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 811-6692
Name of Fund: BlackRock MuniYield California Insured Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, BlackRock MuniYield California Insured Fund, Inc., 800 Scudders
Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011,
Princeton, NJ, 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 10/31/2007
Date of reporting period: 11/01/06 - 01/31/07
Item 1 - Schedule of Investments
BlackRock MuniYield California Insured Fund, Inc.
Schedule of Investments as of January 31, 2007 (in Thousands)
Face
Amount Municipal Bonds Value
California - 130.7%
$ 7,000 ABAG Finance Authority for Nonprofit Corporations, California, COP (Children's Hospital
Medical Center), 6% due 12/01/2029 (a) $ 7,447
2,350 Alameda, California, GO, 5% due 8/01/2033 (f) 2,470
5,665 Alhambra, California, Unified School District, GO (Election of 2004), Series A, 5% due 8/01/2029 (b) 5,990
3,580 Anaheim, California, Public Financing Authority, Electric System Distribution Facilities Revenue
Bonds, Series A, 5% due 10/01/2031 (e) 3,732
2,400 Anaheim, California, Union High School District, GO (Election of 2002), 5% due 8/01/2027 (f) 2,508
3,675 Bakersfield, California, COP, Refunding (Convention Center Expansion Project), 5.80% due
4/01/2007 (f)(g) 3,725
255 Bay Area Government Association, California, Tax Allocation Revenue Refunding Bonds (California
Redevelopment Agency Pool), Series A, 6% due 12/15/2024 (e) 257
3,990 Brentwood, California, Infrastructure Refinancing Authority, Infrastructure Revenue Refunding Bonds,
Series A, 5.20% due 9/02/2029 (e) 4,205
3,215 California Community College Financing Authority, Lease Revenue Bonds, Series A, 5.95% due
12/01/2009 (f)(g) 3,473
1,100 California Community College Financing Authority, Lease Revenue Bonds, Series A, 6% due
12/01/2009 (f)(g) 1,190
5,000 California Educational Facilities Authority Revenue Bonds (University of San Diego), Series A, 5.50%
due 10/01/2032 5,332
10,765 California Educational Facilities Authority, Student Loan Revenue Bonds (CalEdge Loan Program), AMT,
5.55% due 4/01/2028 (a) 11,062
20 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT, Series B, 3.70% due 8/01/2033 (e)(n) 20
30 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT, Series R, 3.67% due 8/01/2023 (a)(n) 30
215 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT, Series R, 3.67% due 8/01/2032 (a)(n) 215
6,700 California HFA, Home Mortgage Revenue Bonds, VRDN, Series F, 3.65% due 2/01/2033 (a)(n) 6,700
2,750 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente), Series A,
5.50% due 6/01/2022 (e)(i) 2,865
320 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-Backed
Securities Program), AMT, Series A, 6.35% due 12/01/2029 (c)(d) 323
160 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-Backed
Securities Program), AMT, Series B, 6.25% due 12/01/2031 (d) 163
12,680 California State Department of Veteran Affairs, Home Purchase Revenue Refunding Bonds, Series A,
5.35% due 12/01/2027 (a) 13,482
Portfolio Abbreviations
To simplify the listings of BlackRock MuniYield California Insured Fund, Inc.'s
portfolio holdings in the Schedule of Investments, we have abbreviated the
names of many of the securities according to the list below.
AMT Alternative Minimum Tax (subject to)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
GO General Obligation Bonds
HFA Housing Finance Agency
RIB Residual Interest Bonds
S/F Single-Family
VRDN Variable Rate Demand Notes
BlackRock MuniYield California Insured Fund, Inc.
Schedule of Investments as of January 31, 2007 (concluded) (in Thousands)
Face
Amount Municipal Bonds Value
California (concluded)
$ 860 California State, GO, 6.25% due 10/01/2019 (f) $ 864
3,000 California State, GO, Refunding, 5.25% due 2/01/2029 3,169
3,000 California State, GO, Refunding, Series BX, 5.50% due 12/01/2031 (e) 3,015
4,530 California State Public Works Board, Lease Revenue Bonds (Department of Corrections-Ten
Administrative Segregation Housing Units), Series A, 5.25% due 3/01/2020 (a) 4,799
2,660 California State University, Systemwide Revenue Bonds, Series A, 5.375% due 11/01/2018 (b) 2,882
2,720 California State University, Systemwide Revenue Refunding Bonds, Series A, 5.125% due 11/01/2026 (a) 2,856
5,950 California State, Various Purpose, GO, 5.50% due 11/01/2033 6,462
10,000 California State, Various Purpose, GO, Refunding, 4.75% due 3/01/2035 (f) 10,259
4,100 California Statewide Communities Development Authority, COP (Kaiser Permanente), 5.30% due
12/01/2015 (e)(i) 4,229
3,685 California Statewide Communities Development Authority, Health Facility Revenue Bonds (Memorial
Health Services), Series A, 6% due 10/01/2023 4,065
5,300 California Statewide Communities Development Authority, Revenue Refunding Bonds (Kaiser Permanente),
Series A, 5% due 4/01/2031 5,492
8,155 Calleguas-Las Virgenes, California, Public Financing Authority Revenue Bonds (Calleguas Municipal
Water District Project), Series A, 5% due 7/01/2013 (f)(g) 8,741
7,000 Capistrano, California, Unified School District, Community Facility District, Special Tax Refunding
Bonds, 5% due 9/01/2029 (b) 7,379
5,200 Castaic Lake Water Agency, California, Revenue Bonds, COP, Series C, 5% due 8/01/2030 (f) 5,481
3,900 Castaic Lake Water Agency, California, Revenue Bonds, COP, Series C, 5% due 8/01/2036 (f) 4,108
4,600 Ceres, California, Redevelopment Agency, Tax Allocation Bonds (Ceres Redevelopment Project Area
Number 1), 5.75% due 11/01/2010 (f)(g) 4,962
6,000 Chaffey, California, Union High School District, GO, Series C, 5.375% due 5/01/2023 (e) 6,447
3,000 Chino Valley, California, Unified School District, GO (Election of 2002), Series C, 5.25% due
8/01/2030 (f) 3,241
5,910 Chula Vista, California, Elementary School District, COP, 5% due 9/01/2029 (f) 6,199
6,000 Coachella Valley, California, Unified School District, COP, 5% due 9/01/2031 (a) 6,322
3,275 Coachella Valley, California, Unified School District, GO (Election of 2005), Series A, 5% due
8/01/2025 (b) 3,468
2,540 Coalinga, California, Redevelopment Agency Tax Allocation Bonds, 5.90% due 9/15/2025 (f) 2,772
4,135 Contra Costa, California, Water District, Water Revenue Refunding Bonds, Series L, 5% due
10/01/2032 (e) 4,306
12,180 Contra Costa County, California, COP, Refunding (Merrithew Memorial Hospital Project), 5.375%
due 11/01/2017 (f) 12,557
8,500 Corona, California, COP (Clearwater Cogeneration Project), 5% due 9/01/2028 (f) 8,867
1,100 El Centro, California, Financing Authority, Water Revenue Bonds, Series A, 5.25% due 10/01/2035 (e) 1,190
6,000 Fremont, California, Unified School District, Alameda County, GO (Election of 2002), Series B, 5%
due 8/01/2030 (e) 6,336
10,755 Fremont, California, Unified School District, Alameda County, GO, Series A, 5.50% due 8/01/2026 (b) 11,594
4,295 Fresno, California, Joint Powers Financing Authority, Lease Revenue Bonds, Series A, 5.75% due
6/01/2026 (e) 4,600
6,930 Fullerton, California, Public Financing Authority, Tax Allocation Revenue Bonds, 5% due 9/01/2027 (a) 7,280
4,390 Glendale, California, Electric Revenue Bonds, 5% due 2/01/2032 (f) 4,558
1,350 Glendora, California, Unified School District, GO (Election of 2005), Series A, 5% due 8/01/2027 (f) 1,431
2,700 Glendora, California, Unified School District, GO (Election of 2005), Series A, 5.25% due 8/01/2030 (f) 2,931
5,710 Hanford, California, Joint Unified High School District, GO (Election of 2004), Series A, 4.75% due
8/01/2029 (e) 5,898
2,500 La Quinta, California, Financing Authority, Local Agency Revenue Bonds, Series A, 5.25% due
9/01/2024 (a) 2,684
3,050 Little Lake, California, City School District, GO, Refunding, 5.50% due 7/01/2025 (e) 3,381
10,260 Lodi, California, Unified School District, GO (Election of 2002), 5% due 8/01/2029 (e) 10,723
10,000 Los Angeles, California, Community Redevelopment Agency, Community Redevelopment Financing Authority
Revenue Bonds (Bunker Hill Project), Series A, 5% due 12/01/2027 (e) 10,468
290 Los Angeles, California, Department of Airports, Airport Revenue Bonds (Los Angeles International
Airport), AMT, Series D, 5.625% due 5/15/2012 (b) 291
5,275 Los Angeles, California, Department of Airports, Airport Revenue Bonds, Series A, 5.25% due
5/15/2019 (b) 5,609
6,800 Los Angeles, California, Municipal Improvement Corporation, Lease Revenue Bonds (Police Headquarters
Facility and Public Works Building), Series A, 4.75% due 1/01/2031 (b) 6,989
2,880 Los Angeles, California, Unified School District, GO (Election of 2004), Series C, 5% due 7/01/2027 (b) 3,025
5,000 Los Angeles, California, Unified School District, GO (Election of 2004), Series F, 5% due 7/01/2030 (b) 5,304
6,015 Los Angeles, California, Unified School District, GO, Refunding, Series B, 4.75% due 7/01/2024 (b) 6,241
4,000 Los Angeles, California, Unified School District, GO, Refunding, Series B, 4.75% due 7/01/2025 (b) 4,141
7,000 Los Angeles, California, Unified School District, GO, Series E, 5% due 7/01/2030 (a) 7,388
5,000 Los Angeles, California, Wastewater System Revenue Refunding Bonds, Series A, 4.75% due 6/01/2035 (f) 5,131
5,000 Los Angeles, California, Water and Power Revenue Bonds (Power System), Sub-Series A-1, 5% due
7/01/2031 (e) 5,274
3,165 Los Angeles, California, Water and Power Revenue Refunding Bonds (Power System), Series A-A-2,
5.375% due 7/01/2021 (f) 3,363
5,240 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax Revenue Refunding
Bonds, Proposition A, First Tier Senior-Series A, 5% due 7/01/2027 (a) 5,534
6,500 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax Revenue Refunding
Bonds, Proposition A, First Tier Senior-Series A, 5% due 7/01/2035 (a) 6,865
2,000 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax Revenue Refunding
Bonds, Proposition C, Second Tier Senior-Series A, 5.25% due 7/01/2010 (b)(g) 2,124
8,735 Los Angeles County, California, Public Works Financing Authority, Lease Revenue Refunding Bonds
(Master Refunding Project), Series A, 5% due 12/01/2028 (f) 9,187
3,000 Los Rios, California, Community College District, GO (Election of 2002), Series B, 5% due 8/01/2027 (f) 3,153
2,010 Madera, California, Public Financing Authority, Water and Wastewater Revenue Refunding Bonds, 5% due
3/01/2036 (f) 2,123
6,865 Merced, California, Community College District, GO (School Facilities District Number 1), 5% due
8/01/2031 (f) 7,281
5,370 Metropolitan Water District of Southern California, Waterworks Revenue Bonds, Series B-1, 5% due
10/01/2033 (b) 5,617
8,000 Murrieta Valley, California, Unified School District, Public Financing Authority, Special Tax Revenue
Bonds, Series A, 5.125% due 9/01/2026 (m) 8,559
6,015 Natomas Unified School District, California, GO (Election of 2006), 5% due 8/01/2028 (b) 6,356
4,245 Nevada County, California, COP, Refunding, 5.25% due 10/01/2019 (f) 4,480
2,000 New Haven, California, Unified School District, GO, Refunding, 5.75% due 8/01/2020 (e) 2,190
4,270 Oakland, California, Sewer Revenue Bonds, Series A, 5% due 6/15/2029 (e) 4,487
2,000 Oakland, California, State Building Authority, Lease Revenue Bonds (Elihu M. Harris State Office
Building), Series A, 5.50% due 4/01/2008 (a)(g) 2,063
1,245 Orange County, California, Airport Revenue Refunding Bonds, AMT, 5.625% due 7/01/2012 (f) 1,278
6,360 Orange County, California, Public Financing Authority, Lease Revenue Refunding Bonds (Juvenile
Justice Center Facility), 5.375% due 6/01/2018 (a) 6,875
10,000 Oxnard, California, Financing Authority, Wastewater Revenue Bonds (Redwood Trunk Sewer and Headworks
Projects), Series A, 5.25% due 6/01/2034 (b) 10,708
9,645 Oxnard, California, Unified High School District, GO, Refunding, Series A, 6.20% due 8/01/2030 (f) 11,247
1,275 Palm Springs, California, Financing Authority, Lease Revenue Refunding Bonds (Convention Center
Project), Series A, 5.50% due 11/01/2035 (f) 1,409
4,640 Palmdale, California, Water District Public Facility Corporation, COP, 5% due 10/01/2029 (b) 4,856
5,000 Placentia-Yorba Linda, California, Unified School District, COP, 5% due 10/01/2030 (b) 5,251
5,000 Placentia-Yorba Linda, California, Unified School District, GO (Election of 2002), Series C, 5% due
8/01/2029 (f) 5,287
3 Port of Oakland, California, AMT, RIB, Series 1192, 6.89% due 11/01/2027 (b)(h) 3
7,500 Port of Oakland, California, Revenue Bonds, AMT, Series K, 5.75% due 11/01/2029 (b) 7,908
3,000 Riverside, California, COP, 5% due 9/01/2028 (a) 3,130
6,000 Riverside, California, Unified School District, GO (Election of 2001), Series A, 5.25% due
2/01/2023 (b) 6,403
7,515 Riverside, California, Unified School District, GO (Election of 2001), Series B, 5% due 8/01/2030 (f) 7,976
4,500 Riverside County, California, Asset Leasing Corporation, Leasehold Revenue Refunding Bonds (Riverside
County Hospital Project), Series B, 5.70% due 6/01/2016 (f) 4,959
3,000 Sacramento, California, City Financing Authority, Capital Improvement Revenue Bonds (Community Rein
Capital Program), Series A, 5% due 12/01/2036 (a) 3,169
6,000 Sacramento County, California, Sanitation District Financing Authority, Revenue Bonds, Series A, 5%
due 12/01/2035 (a) 6,317
2,565 Saddleback Valley, California, Unified School District, GO, 5% due 8/01/2029 (e) 2,698
5,000 San Bernardino, California, City Unified School District, GO, Series A, 5% due 8/01/2028 (e) 5,245
385 San Bernardino County, California, S/F Home Mortgage Revenue Refunding Bonds, AMT, Series A-1, 6.25%
due 12/01/2031 (d) 392
2,720 San Diego, California, Redevelopment Agency, Subordinate Tax Allocation Bonds (Centre City
Redevelopment Project), Series A, 5.25% due 9/01/2024 (a) 2,952
2,860 San Diego, California, Redevelopment Agency, Subordinate Tax Allocation Bonds (Centre City
Redevelopment Project), Series A, 5.25% due 9/01/2025 (a) 3,100
5,400 San Diego, California, Unified Port District, Revenue Refunding Bonds, AMT, Series A, 5.25% due
9/01/2019 (f) 5,765
3,570 San Diego County, California, COP (Salk Institute for Bio Studies), 5.75% due 7/01/2022 (f) 3,842
5,200 San Diego County, California, COP (Salk Institute for Bio Studies), 5.75% due 7/01/2031 (f) 5,587
7,350 San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A, 5% due 5/01/2030 (e) 7,714
10,000 San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A, 5% due 5/01/2031 (e) 10,488
9,630 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue Refunding Bonds,
Series A, 5% due 7/01/2030 (f) 10,178
6,455 San Francisco, California, City and County Airport Commission, International Airport Revenue
Refunding Bonds, Second Series 28B, 5.25% due 5/01/2012 (f)(g) 6,931
3,000 San Francisco, California, City and County Airport Commission, International Airport Revenue
Refunding Bonds, Second Series 28B, 5.25% due 5/01/2012 (f)(g) 3,221
5,000 San Francisco, California, City and County Airport Commission, International Airport Revenue
Refunding Bonds, Second Series, Issue 32G, 5% due 5/01/2026 (b) 5,292
1,000 San Francisco, California, City and County Airport Commission, International Airport, Special
Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT, Series A, 6.10% due 1/01/2020 (e) 1,039
985 San Francisco, California, City and County Airport Commission, International Airport, Special
Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT, Series A, 6.125% due 1/01/2027 (e) 1,024
1,735 San Francisco, California, Community College District, GO, Refunding, Series A, 5.375% due 6/15/2019 (b) 1,851
1,730 San Francisco, California, Community College District, GO, Refunding, Series A, 5.375% due 6/15/2020 (b) 1,845
1,925 San Francisco, California, Community College District, GO, Refunding, Series A, 5.375% due 6/15/2021 (b) 2,053
4,135 San Jose, California, Airport Revenue Bonds, Series D, 5% due 3/01/2028 (f) 4,313
1,632 San Jose, California, Financing Authority, Lease Revenue Refunding Bonds, DRIVERS, Series 1280Z,
6.111% due 12/01/2010 (a)(h) 1,745
4,250 San Juan, California, Unified School District, GO (Election of 2002), 5% due 8/01/2028 (f) 4,442
10,000 San Mateo County, California, Community College District, GO (Election of 2005), Series B, 4.50%
due 9/01/2034 (f)(o) 2,799
4,350 San Mateo County, California, Transit District, Sales Tax Revenue Refunding Bonds, Series A, 5%
due 6/01/2029 (f) 4,595
2,595 Santa Clara, California, Redevelopment Agency, Tax Allocation Bonds (Bayshore North Project),
Series A, 5.25% due 6/01/2019 (a) 2,700
5,500 Santa Clara, California, Subordinated Electric Revenue Bonds, Series A, 5% due 7/01/2028 (f) 5,745
1,100 Santa Clara Valley, California, Water District, Water Utility System Revenue, Series A, 5.125%
due 6/01/2010 (b)(g) 1,151
3,000 Santa Rosa, California, High School District, GO, 5.375% due 8/01/2026 (e) 3,193
2,500 Santa Rosa, California, High School District, GO (Election of 2002), 5% due 8/01/2028 (f) 2,613
6,750 Shasta, California, Joint Powers Financing Authority, Lease Revenue Bonds (County Administration
Building Project), Series A, 5% due 4/01/2033 (f) 7,014
1,645 South Tahoe, California, Joint Powers Financing Authority, Revenue Refunding Bonds (South Tahoe
Redevelopment Project Area Number 1), Series A, 5% due 10/01/2029 (e) 1,722
5,000 Southern California Public Power Authority, Power Project Revenue Bonds (Magnolia Power Project),
Series A-1, 5% due 7/01/2033 (a) 5,203
2,600 Stockton, California, Public Financing Authority, Water Revenue Bonds (Water System Capital
Improvement Projects), Series A, 5% due 10/01/2031 (f) 2,746
1,055 Stockton, California, Public Financing Revenue Refunding Bonds, Series A, 5.875% due 9/02/2016 (e) 1,064
1,500 Tehachapi, California, COP, Refunding (Installment Sale), 5.75% due 11/01/2016 (e) 1,639
6,000 Tracy, California, Community Development Agency, Tax Allocation Refunding Bonds, Series A, 5% due
3/01/2034 (a) 6,232
3,000 Turlock, California, Public Finance Authority, Sewer Revenue Bonds, Series A, 5% due 9/15/2033 (b) 3,137
14,830 University of California Revenue Bonds (Multiple Purpose Projects), Series Q, 5% due 9/01/2011 (e)(g) 15,780
4,790 University of California Revenue Bonds, Series O, 5.125% due 9/01/2010 (b)(g) 5,078
3,395 Ventura County, California, Community College District, GO, Refunding, Series A, 5% due 8/01/2027 (f) 3,548
2,550 Vista, California, Unified School District, GO, Series B, 5% due 8/01/2028 (b) 2,665
2,185 Walnut, California, Public Financing Authority, Tax Allocation Revenue Bonds (Walnut Improvement
Project), 5.375% due 9/01/2021 (a) 2,326
6,690 West Contra Costa, California, Unified School District, GO (Election of 2002), Series B, 5% due
8/01/2032 (e) 6,944
Puerto Rico - 8.0%
5,000 Puerto Rico Commonwealth, GO, 4.875% due 7/01/2023 (f) 5,104
4,335 Puerto Rico Commonwealth, Public Improvement, GO, 5.75% due 7/01/2010 (f)(g) 4,609
10,000 Puerto Rico Municipal Finance Agency, GO, RIB, Series 225, 7.62% due 8/01/2012 (e)(h) 11,153
20,000 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E, 5.75%
due 2/01/2007 (g) 20,000
Total Municipal Bonds (Cost - $687,303) - 138.7% 711,233
Municipal Bonds Held in Trust (l)
California - 30.6%
19,870 California State, Veterans, GO, Refunding, AMT, Series B, 5.70% due 12/01/2032 (a) 20,289
10,000 East Bay Municipal Utility District, California, Water System Revenue Bonds, Sub-Series A, 5% due
6/01/2035 (f) 10,557
15,150 Long Beach, California, Harbor Revenue Bonds, AMT, Series A, 5.375% due 5/15/2024 15,875
16,000 Los Angeles, California, Department of Water and Power, Power System Revenue Refunding Bonds,
Series A, Sub-Series A-2, 5% due 7/01/2027 (f) 16,713
9,180 Port of Oakland, California, Port Revenue Bonds, AMT, Series K, 5.75% due 11/01/2012 (b) 9,677
10,820 Port of Oakland, California, Revenue Bonds, AMT, Series K, 5.75% due 11/01/2013 (b) 11,406
19,035 Port of Oakland, California, Revenue Refunding Bonds, AMT, Series L, 5.375% due 11/01/2027 (b) 20,156
24,710 San Diego, California, Certificates of Undivided Interest Revenue Bonds (Water Utility Fund),
5.20% due 8/01/2024 (b) 25,402
10,500 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue Refunding Bonds,
Series A, 5% due 7/01/2034 (f) 11,090
8,137 San Jose, California, Financing Authority, Lease Revenue Refunding Bonds (Civic Center Project),
Series B, 5% due 6/01/2032 (a) 8,417
7,300 San Jose, California, Redevelopment Agency, Tax Allocation Bonds (Housing Set-Aside Merged Area),
AMT, Series E, 5.85% due 8/01/2027 (f) 7,511
Total Municipal Bonds Held in Trust (Cost - $155,083) - 30.6% 157,093
Shares
Held Short-Term Securities
761 CMA California Municipal Money Fund, 2.99% (j)(k) 761
Total Short-Term Securities (Cost - $761) - 0.1% 761
Total Investments (Cost - $843,147*) - 169.4% 869,087
Liabilities in Excess of Other Assets - (0.1%) (644)
Liability for Trust Certificates, Including Interest Expense Payable - (15.7%) (80,345)
Preferred Stock, at Redemption Value - (53.6%) (275,170)
-----------
Net Assets Applicable to Common Stock - 100.0% $ 512,928
===========
* The cost and unrealized appreciation (depreciation) of investments
as of January 31, 2007, as computed for federal income tax purposes,
were as follows:
Aggregate cost $ 763,277
==================
Gross unrealized appreciation $ 26,582
Gross unrealized depreciation (722)
------------------
Net unrealized appreciation $ 25,860
==================
(a) AMBAC Insured.
(b) FGIC Insured.
(c) FHLMC Collateralized.
(d) FNMA/GNMA Collateralized.
(e) FSA Insured.
(f) MBIA Insured.
(g) Prerefunded.
(h) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(i) Escrowed to maturity.
(j) Investments in companies considered to be an affiliate of the Fund,
for purposes of Section 2(a)(3) of the Investment Company Act of 1940,
were as follows:
Net Dividend
Affiliate Activity Income
CMA California Municipal Money Fund (363) $135
(k) Represents the current yield as of January 31, 2007.
(l) Securities represent underlying bonds transferred to a separate
securitization trust established in a tender option bond transaction
in which the Fund may have acquired the residual interest certificates.
These securities serve as collateral in a financing transaction.
(m) Assured Guaranty Insured.
(n) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate
changes periodically based upon prevailing market rates.
(o) Represents a zero coupon bond; the interest rate shown is the effective
yield at the time of purchase.
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our
evaluation of these controls and procedures as of a date within 90
days prior to the filing date of this report.
2(b) - As of September 29, 2006, with the conclusion of the combination of
Merrill Lynch's asset management business with BlackRock, the
registrant was migrated to BlackRock's trading and compliance
monitoring systems, and various personnel changes occurred. In
conjunction with these business improvements, there were no changes in
the registrants internal control over financial reporting (as defined
in Rule 30a-3(d) under Act (17 CFR 270.30a-3(d)) that occurred during
the last fiscal half-year of the period covered by this report that
has materially affected, or is reasonably likely to 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 California Insured Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniYield California Insured Fund, Inc.
Date: March 26, 2007
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/ Robert C. Doll, Jr.
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Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniYield California Insured Fund, Inc.
Date: March 26, 2007
By: /s/ Donald C. Burke
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Donald C. Burke
Chief Financial Officer
BlackRock MuniYield California Insured Fund, Inc.
Date: March 26, 2007