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.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer (principal executive officer), BlackRock MuniYield 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: (800) 882-0052
Date of fiscal year end: 10/31/2007
Date of reporting period: 05/01/2007 - 07/31/2007
Item 1 - Schedule of Investments
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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Alabama - 3.4% $ 4,540 Birmingham, Alabama, Special Care Facilities Financing Authority,
Revenue Refunding Bonds (Ascension Health Credit), Series C-2, 5% due 11/15/2036 $ 4,560
3,300 Birmingham, Alabama, Special Care Facilities Financing Authority,
Revenue Refunding Bonds (Ascension Health Credit), Series C-2, 5% due 11/15/2039 3,309
5,250 Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 5.50% due
1/01/2022 5,618
2,200 Tuscaloosa, Alabama, Special Care Facilities Financing Authority, Residential Care
Facility Revenue Bonds (Capstone Village, Inc. Project), Series A, 5.625% due 8/01/2025 2,169
6,425 Tuscaloosa, Alabama, Special Care Facilities Financing Authority, Residential Care
Facility Revenue Bonds (Capstone Village, Inc. Project), Series A, 5.875% due 8/01/2036 6,452
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Arizona - 9.0% 5,825 Arizona State Transportation Board, Highway Revenue Bonds, Sub-Series A, 5% due 7/01/2021 6,091
7,030 Arizona State Transportation Board, Highway Revenue Bonds, Sub-Series A, 5% due 7/01/2022 7,351
5,240 Arizona State Transportation Board, Highway Revenue Bonds, Sub-Series A, 5% due 7/01/2023 5,464
3,300 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project 1), Series A, 6.75% due 7/01/2029 3,270
5,000 Maricopa County, Arizona, IDA, M/F Housing Revenue Refunding Bonds (CRS Pine Ridge
Housing Corporation), Series A-1, 6% due 10/20/2031 (e)(h) 5,256
5,000 Maricopa County, Arizona, IDA, M/F Housing Revenue Refunding Bonds (CRS Pine Ridge
Housing Corporation), Series A-1, 6.05% due 10/20/2036 (e)(h) 5,212
3,000 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West Airlines
Inc. Project), AMT, 6.25% due 6/01/2019 3,052
5,090 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West Airlines
Inc. Project), AMT, 6.30% due 4/01/2023 5,142
1,610 Phoenix, Arizona, IDA, M/F Housing Revenue Bonds (Summit Apartments LLC Project), 6.25%
due 7/20/2022 (h) 1,709
1,425 Phoenix, Arizona, IDA, M/F Housing Revenue Bonds (Summit Apartments LLC Project), 6.45%
due 7/20/2032 (h) 1,521
1,305 Phoenix, Arizona, IDA, M/F Housing Revenue Bonds (Summit Apartments LLC Project), 6.55%
due 7/20/2037 (h) 1,398
570 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools
Project II), Series A, 6.75% due 7/01/2011 (j) 627
810 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools
Project II), Series A, 6.75% due 7/01/2031 851
Portfolio Abbreviations
To simplify the listings of BlackRock MuniYield 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
EDA Economic Development Authority
EDR Economic Development Revenue Bonds
GO General Obligation Bonds
HFA Housing Finance Agency
IDA Industrial Development Authority
IDB Industrial Development Board
IDR Industrial Development Revenue Bonds
M/F Multi-Family
PCR Pollution Control Revenue Bonds
PILOT Payment in Lieu of Taxes
S/F Single-Family
VRDN Variable Rate Demand Notes
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 3,000 Vistancia Community Facilities District, Arizona, GO, 5.50% due 7/15/2020 $ 3,174
2,125 Vistancia Community Facilities District, Arizona, GO, 5.75% due 7/15/2024 2,270
5,900 Yavapai County, Arizona, IDA, Hospital Facility Revenue Bonds (Yavapai Regional Medical
Center), Series A, 6% due 8/01/2033 6,243
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Arkansas - 0.7% 2,000 University of Arkansas, University Construction Revenue Bonds (UAMS Campus), Series B,
5% due 11/01/2020 (i) 2,095
1,600 University of Arkansas, University Construction Revenue Bonds (UAMS Campus), Series B,
5% due 11/01/2027 (i) 1,658
1,000 University of Arkansas, University Revenue Refunding Bonds (UAMS Campus), Series A, 5%
due 11/01/2014 (i) 1,066
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California - 14.4% 8,760 California State, GO, 5% due 2/01/2014 (j) 9,350
9,990 California State, GO, 5% due 4/01/2014 (a)(j) 10,678
10 California State, GO, 5% due 4/01/2031 (a) 10
11,335 California State, GO, Refunding, 5% due 6/01/2032 11,677
2,000 California State Public Works Board, Lease Revenue Bonds (Department of Corrections),
Series C, 5% due 6/01/2025 2,051
4,500 California State Public Works Board, Lease Revenue Bonds (Department of Mental Health -
Coalinga State Hospital), Series A, 5.125% due 6/01/2029 4,637
6,800 California State, Various Purpose, GO, 5.25% due 11/01/2025 7,154
5,550 California State, Various Purpose, GO, 5.50% due 11/01/2033 5,933
5,500 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue
Bonds, Series A-3, 7.875% due 6/01/2013 (j) 6,618
7,500 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue
Bonds, Series A-4, 7.80% due 6/01/2013 (j) 8,998
5,965 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement Revenue
Refunding Bonds, Senior Series A-1, 5.125% due 6/01/2047 5,559
7,570 Los Angeles, California, Unified School District, GO, Series A, 5% due 7/01/2013 (g)(j) 8,051
5,145 Santa Clara, California, Subordinated Electric Revenue Bonds, Series A, 5% due 7/01/2022
(i) 5,331
7,465 University of California Revenue Bonds (Multiple Purpose Projects), Series Q, 5% due
9/01/2021 (g) 7,781
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Colorado - 4.5% 3,245 Colorado Educational and Cultural Facilities Authority, Revenue Refunding Bonds
(University of Denver Project), Series B, 5.25% due 3/01/2016 (d)(j) 3,527
280 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Series D-2, 6.90% due 4/01/2029 289
8,000 Denver, Colorado, City and County Airport Revenue Bonds, AMT, Series D, 7.75% due
11/15/2013 (a) 8,863
1,615 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series
A, 7.10% due 9/01/2014 1,707
5,065 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee), Series
A, 7.35% due 9/01/2031 5,314
6,850 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public
Improvement Fees), 8% due 12/01/2025 7,493
1,885 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public
Improvement Fees), 8.125% due 12/01/2025 1,891
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Connecticut - 0.1% 350 Connecticut State Development Authority, IDR (AFCO Cargo BDL-LLC Project), AMT, 7.35%
due 4/01/2010 362
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Delaware - 0.3% 2,000 New Castle County, Delaware, PCR (General Motors Corporation Project), VRDN, 7% due
10/01/2008 (n) 2,000
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Florida - 6.7% 4,240 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist
Health System), Series C, 5.25% due 11/15/2036 4,286
11,500 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National Gypsum
Company), AMT, Series A, 7.125% due 4/01/2030 12,247
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 5,000 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National Gypsum
Company), AMT, Series B, 7.125% due 4/01/2030 $ 5,325
2,870 Hillsborough County, Florida, IDA, Hospital Revenue Bonds (Tampa General Hospital
Project), 5% due 10/01/2036 2,809
4,705 Lee County, Florida, Revenue Bonds, 5% due 10/01/2022 (a) 4,888
5,450 Midtown Miami, Florida, Community Development District, Special Assessment Revenue Bonds,
Series B, 6.50% due 5/01/2037 5,623
1,100 Orange County, Florida, Health Facilities Authority, Health Care Revenue Refunding Bonds
(Orlando Lutheran Towers), 5.375% due 7/01/2020 1,086
2,500 Orlando, Florida, Greater Orlando Aviation Authority, Airport Facilities Revenue Bonds
(JetBlue Airways Corp.), AMT, 6.50% due 11/15/2036 2,606
4,620 Santa Rosa Bay Bridge Authority, Florida, Revenue Bonds, 6.25% due 7/01/2028 4,637
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Georgia - 1.5% 4,600 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.90% due 12/01/2024 5,024
2,285 Brunswick and Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds
(Coastal Community Retirement Corporation Project), Series A, 7.125% due 1/01/2025 1,810
3,595 Brunswick and Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds
(Coastal Community Retirement Corporation Project), Series A, 7.25% due 1/01/2035 2,837
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Idaho - 1.6% 110 Idaho Housing Agency, S/F Mortgage Revenue Refunding Bonds, AMT, Senior Series C-2,
7.15% due 7/01/2023 113
10,000 Power County, Idaho, Industrial Development Corporation, Solid Waste Disposal Revenue
Bonds (FMC Corporation Project), AMT, 6.45% due 8/01/2032 10,500
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Illinois - 3.7% 1,000 Bolingbrook, Illinois, Special Services Area Number 1, Special Tax Bonds (Forest City
Project), 5.90% due 9/01/2008 (m) 1,030
13,200 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT,
Series B-2, 6% due 1/01/2029 (p) 14,532
1,750 Illinois State Finance Authority Revenue Bonds (Friendship Village of Schaumburg),
Series A, 5.625% due 2/15/2037 1,772
2,155 Illinois State Finance Authority Revenue Bonds (Landing At Plymouth Place Project),
Series A, 6% due 5/15/2037 2,257
4,000 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue Bonds
(McCormick Place Expansion), Series A, 5.50% due 6/15/2023 (i) 4,252
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Indiana - 1.1% 2,850 Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series A, 5% due
1/01/2029 (d) 2,946
4,300 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 5% due
6/01/2013 (g)(j) 4,549
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Kansas - 0.2% 1,250 Lenexa, Kansas, Health Care Facility Revenue Bonds (Lakeview Village Inc.), Series C,
6.875% due 5/15/2012 (j) 1,415
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Kentucky - 0.5% 2,350 Kentucky Economic Development Finance Authority, Health System Revenue Refunding Bonds
(Norton Healthcare, Inc.), Series A, 6.625% due 10/01/2010 (j) 2,561
650 Kentucky Economic Development Finance Authority, Health System Revenue Refunding Bonds
(Norton Healthcare, Inc.), Series A, 6.625% due 10/01/2028 697
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Louisiana - 5.7% 6,750 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan Missionaries of
Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 6,838
1,000 Louisiana Public Facilities Authority, Revenue Refunding Bonds (Pennington Medical
Foundation Project), 5% due 7/01/2031 999
10,000 Louisiana State Citizens Property Insurance Corporation, Assessment Revenue Bonds,
Series B, 5% due 6/01/2020 (a) 10,465
19,000 Port New Orleans, Louisiana, IDR, Refunding (Continental Grain Company Project), 6.50%
due 1/01/2017 19,208
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Maryland - 4.5% 5,615 Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Senior Series A, 5.25% due
9/01/2039 (p) 5,913
1,920 Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Sub-Series B, 5.875% due
9/01/2039 2,007
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 3,150 Baltimore, Maryland, Wastewater Project Revenue Bonds, Series D, 5% due 7/01/2037 (a) $ 3,285
2,580 Maryland State Community Development Administration, Department of Housing and Community
Development, Residential Revenue Refunding Bonds, AMT, Series A, 4.65% due 9/01/2032 2,433
3,000 Maryland State Energy Financing Administration, Limited Obligation Revenue Bonds
(Cogeneration-AES Warrior Run), AMT, 7.40% due 9/01/2019 3,008
6,375 Maryland State Health and Higher Educational Facilities Authority, Revenue Refunding
Bonds (Peninsula Regional Medical Center), 5% due 7/01/2036 6,375
4,000 Maryland State Health and Higher Educational Facilities Authority, Revenue Refunding
Bonds (University of Maryland Medical System), 6% due 7/01/2032 4,217
500 Maryland State Industrial Development Financing Authority, EDR (Our Lady of Good Counsel
School), Series A, 6% due 5/01/2035 530
1,500 Prince Georges County, Maryland, Special Obligation Bonds (National Harbor Project),
5.20% due 7/01/2034 1,483
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Massachusetts - 1,410 Massachusetts State College Building Authority, Project Revenue Bonds, Series A, 5% due
2.8% 5/01/2031 (a) 1,468
3,500 Massachusetts State Development Finance Agency, Human Service Provider Revenue Bonds
(Seven Hills Foundation & Affiliates), 5% due 9/01/2035 (k) 3,484
2,750 Massachusetts State Development Finance Agency, Revenue Refunding Bonds (Western New
England College), Series A, 5% due 9/01/2033 (b) 2,833
10,000 Massachusetts State Special Obligation Dedicated Tax Revenue Bonds, 5.25% due 1/01/2014
(d)(j) 10,736
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Michigan - 1.5% 6,060 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount
Clemens General Hospital), Series B, 5.875% due 11/15/2034 6,286
1,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health
System), Series A, 5.25% due 11/15/2032 1,022
2,500 Michigan State Strategic Fund, PCR, Refunding (General Motors Corp.), 6.20% due 9/01/2020 2,505
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Minnesota - 1.3% 420 Eden Prairie, Minnesota, M/F Housing Revenue Bonds (Rolling Hills Project), Series A,
6% due 8/20/2021 (h) 455
2,000 Eden Prairie, Minnesota, M/F Housing Revenue Bonds (Rolling Hills Project), Series A,
6.20% due 2/20/2043 (h) 2,157
935 Minneapolis, Minnesota, M/F Housing Revenue Bonds (Gaar Scott Loft Project), AMT, 5.95%
due 5/01/2030 961
4,500 Minnesota State Municipal Power Agency, Electric Revenue Bonds, 5% due 10/01/2030 4,606
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Mississippi - 0.9% 6,405 Mississippi Business Finance Corporation Revenue Bonds (Northrop Grumman Ship System),
4.55% due 12/01/2028 5,977
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Missouri - 3.7% 2,690 Fenton, Missouri, Tax Increment Revenue Refunding and Improvement Bonds (Gravois Bluffs),
7% due 10/01/2011 (j) 3,034
5,000 Missouri State Highways and Transportation Commission, First Lien State Road Revenue
Bonds, Series A, 5% due 5/01/2020 5,298
15,000 Missouri State Highways and Transportation Commission, First Lien State Road Revenue
Bonds, Series A, 5% due 5/01/2021 15,859
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Nebraska - 0.3% 865 Lincoln, Nebraska, Sanitation and Sewer Revenue Bonds, 4.25% due 6/15/2024 843
905 Lincoln, Nebraska, Sanitation and Sewer Revenue Bonds, 4.25% due 6/15/2025 876
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New Hampshire - 3,425 New Hampshire Health and Education Facilities Authority, Revenue Refunding Bonds (Elliot
0.5% Hospital), Series B, 5.60% due 10/01/2022 3,580
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New Jersey - 11,435 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 11,874
16.8% 710 New Jersey EDA, First Mortgage Revenue Bonds (Lions Gate Project), Series A, 5.75% due
1/01/2025 721
230 New Jersey EDA, First Mortgage Revenue Bonds (Lions Gate Project), Series A, 5.875% due
1/01/2037 234
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 3,000 New Jersey EDA, First Mortgage Revenue Bonds (The Presbyterian Home), Series A, 6.375%
due 11/01/2031 $ 3,147
20,000 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5% due 7/01/2029 (i) 20,696
4,400 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc. Facility),
Series A, 7.25% due 11/15/2011 (j) 4,995
8,825 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.25% due
3/01/2023 9,380
3,905 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT,
6.25% due 9/15/2019 4,017
14,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project), AMT,
6.25% due 9/15/2029 14,401
1,335 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack Valley
Hospital Association), 6% due 7/01/2013 1,069
1,835 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack Valley
Hospital Association), 6.625% due 7/01/2036 1,468
3,975 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue
Bonds, Series A, 5.50% due 12/15/2021 4,423
6,600 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue
Bonds, Series A, 5.50% due 12/15/2022 7,350
13,110 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue
Bonds, Series C, 5.05% due 12/15/2035 (a)(m) 3,394
5,425 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue
Bonds, Series D, 5% due 6/15/2019 (g) 5,711
9,410 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue
Bonds, Series D, 5% due 6/15/2020 9,814
7,000 New Jersey State Transportation Trust Fund Authority, Transportation System Revenue
Bonds, Series D, 5% due 6/15/2020 (g) 7,348
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New York - 13.9% 2,200 Dutchess County, New York, IDA, Civic Facility Revenue Refunding Bonds (Saint Francis
Hospital), Series A, 7.50% due 3/01/2029 2,410
2,400 Erie County, New York, IDA, Revenue Bonds (Orchard Park CCRC, Inc. Project), Series A, 6%
due 11/15/2026 2,518
11,000 Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,
Series F, 5% due 11/15/2035 11,307
2,000 New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),
5% due 1/01/2022 (a) 2,114
2,175 New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),
5% due 1/01/2023 (a) 2,294
1,250 New York City, New York, City IDA, Special Facility Revenue Bonds (British Airways Plc
Project), AMT, 7.625% due 12/01/2032 1,367
10,000 New York City, New York, GO, Series M, 5% due 4/01/2021 10,419
2,500 New York City, New York, GO, Series O, 5% due 6/01/2033 2,577
6,500 New York Liberty Development Corporation, Revenue Bonds (Goldman Sachs Headquarters),
5.25% due 10/01/2035 6,897
3,145 New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds
(Mount Sinai Health), Series A, 6.75% due 7/01/2010 (j) 3,431
1,855 New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds
(Mount Sinai-NYU Medical Center Health System), Series A, 6.75% due 7/01/2020 1,982
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 5,000 New York State Dormitory Authority, State Personal Income Tax Revenue Bonds (Education),
Series F, 5% due 3/15/2035 $ 5,166
8,360 New York State Dormitory Authority, Supported Debt Revenue Refunding Bonds (Department
of Health), Series A, 5% due 7/01/2023 (c) 8,709
2,500 Suffolk County, New York, IDA, IDR, Refunding (Nissequogue Cogeneration Partners
Facility), AMT, 5.50% due 1/01/2023 2,426
9,400 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series C-1, 5.50%
due 6/01/2021 10,021
10,000 Triborough Bridge and Tunnel Authority, New York, Subordinate Revenue Bonds, 5.25% due
11/15/2030 10,496
3,450 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue Bonds
(Kendal on Hudson Project), Series A, 6.375% due 1/01/2024 3,627
2,895 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue Bonds
(Kendal on Hudson Project), Series A, 6.50% due 1/01/2034 3,038
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North Carolina - 4,750 North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds, Series D,
1.8% 6.75% due 1/01/2026 5,042
150 North Carolina HFA, Home Ownership Revenue Bonds, AMT, Series 8-A, 6.20% due 7/01/2016 153
675 North Carolina, HFA, S/F Revenue Bonds, Series II, 6.20% due 3/01/2016 (e) 697
1,000 North Carolina Medical Care Commission, Health Care Facilities, First Mortgage Revenue
Bonds (Arbor Acres Community Project), 6.375% due 3/01/2012 (j) 1,098
5,000 North Carolina Medical Care Commission, Health Care Facilities, First Mortgage Revenue
Bonds (Presbyterian Homes Project), 5.40% due 10/01/2027 5,027
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Ohio - 3.1% 3,000 Cincinnati, Ohio, City School District, GO (Classroom Construction and Improvement),
Refunding, 5.25% due 12/01/2020 (d) 3,312
5,065 Hamilton County, Ohio, Sewer System Improvement Revenue Bonds (The Metropolitan Sewer
District of Greater Cincinnati), Series B, 5% due 12/01/2028 (i) 5,268
2,175 Lucas County, Ohio, Health Care Facility Revenue Refunding and Improvement Bonds (Sunset
Retirement Communities), Series A, 6.625% due 8/15/2030 2,300
5,000 Mason, Ohio, City School District, GO (School Improvement), 5% due 6/01/2014 (g)(j) 5,327
970 Port of Greater Cincinnati Development Authority, Ohio, Special Assessment Revenue Bonds
(Cooperative Public Parking Infrastructure Project), 6.30% due 2/15/2024 1,033
750 Toledo-Lucas County, Ohio, Port Authority Revenue Bonds (Saint Mary Woods Project),
Series A, 6% due 5/15/2024 755
2,250 Toledo-Lucas County, Ohio, Port Authority Revenue Bonds (Saint Mary Woods Project),
Series A, 6% due 5/15/2034 2,250
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Oklahoma - 0.8% 5,210 Oklahoma State Development Finance Authority, Revenue Refunding Bonds (Saint John Health
System), 5% due 2/15/2042 5,210
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Oregon - 1.4% 4,405 Oregon State Department of Administrative Services, COP, Series A, 6% due 5/01/2010
(a)(j) 4,697
2,720 Oregon State, GO, Refunding (Veterans Welfare), Series 80A, 5.70% due 10/01/2032 2,736
1,830 Portland, Oregon, Housing Authority, Housing Revenue Bonds (Pine Square and University
Place), Series A, 5.875% due 1/01/2022 1,853
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Pennsylvania - 5,270 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds
4.8% (National Gypsum Company), AMT, Series A, 6.25% due 11/01/2027 5,475
2,450 Pennsylvania HFA, S/F Mortgage Revenue Refunding Bonds, AMT, Series 97A, 4.60% due
10/01/2027 2,321
16,270 Pennsylvania State Higher Educational Facilities Authority, Health Services Revenue
Refunding Bonds (Allegheny Delaware Valley Obligation), Series C, 5.875% due 11/15/2016
(i) 16,617
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 1,265 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75% due
12/01/2017 $ 1,268
5,000 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie Healthcare
System), Series B, 7.125% due 12/01/2011 (j) 5,951
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Rhode Island - 4,240 Central Falls, Rhode Island, Detention Facility Corporation, Detention Facility, Revenue
1.1% Refunding Bonds, 7.25% due 7/15/2035 4,695
1,225 Woonsocket, Rhode Island, GO, 6% due 10/01/2017 (d) 1,313
1,195 Woonsocket, Rhode Island, GO, 6% due 10/01/2018 (d) 1,277
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South Dakota - 5,210 South Dakota State Health and Educational Facilities Authority Revenue Bonds (Sanford
0.8% Health), 5% due 11/01/2040 5,216
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Tennessee - 3.9% 4,065 Hardeman County, Tennessee, Correctional Facilities Corporation Revenue Bonds, 7.75%
due 8/01/2017 4,150
10,000 McMinn County, Tennessee, IDB, Solid Waste Revenue Bonds (Recycling Facility-Calhoun
Newsprint), AMT, 7.40% due 12/01/2022 10,128
11,250 Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Saint Jude Children's Research Hospital), 5% due 7/01/2031 11,330
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Texas - 16.4% 16,000 Alliance Airport Authority, Inc., Texas, Special Facilities Revenue Refunding Bonds
(American Airlines Inc. Project), AMT, 5.75% due 12/01/2029 15,732
10,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First Tier,
Series A, 6.70% due 1/01/2011 (j) 10,898
1,300 Bexar County, Texas, Housing Finance Corporation, M/F Housing Revenue Bonds (Water at
Northern Hills Apartments), Series A, 5.80% due 8/01/2021 (i) 1,321
2,460 Bexar County, Texas, Housing Finance Corporation, M/F Housing Revenue Bonds (Water at
Northern Hills Apartments), Series A, 6% due 8/01/2031 (i) 2,503
1,000 Bexar County, Texas, Housing Finance Corporation, M/F Housing Revenue Bonds (Water at
Northern Hills Apartments), Series A, 6.05% due 8/01/2036 (i) 1,018
3,755 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc. Project),
Series B, 7.75% due 12/01/2018 3,918
2,000 Gregg County, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds
(Good Shepherd Medical Center Project), 6.375% due 10/01/2010 (j)(k) 2,166
3,000 Gregg County, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds
(Good Shepherd Medical Center Project), 6.875% due 10/01/2010 (j)(k) 3,293
5,000 Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal Facility Revenue
Bonds (E. I. du Pont de Nemours and Company Project), AMT, 6.40% due 4/01/2026 5,056
3,900 Gulf Coast, Texas, IDA, Solid Waste Disposal Revenue Bonds (Citgo Petroleum Corporation
Project), AMT, 7.50% due 5/01/2025 4,293
3,500 Houston, Texas, Airport System, Special Facilities Revenue Bonds (Continental Airlines),
AMT, Series E, 7.375% due 7/01/2022 3,797
3,000 Houston, Texas, Airport System, Special Facilities Revenue Bonds (Continental Airlines),
AMT, Series E, 7% due 7/01/2029 3,213
1,600 Houston, Texas, Industrial Development Corporation Revenue Bonds (Air Cargo), AMT, 6.375%
due 1/01/2023 1,689
4,830 Lower Colorado River Authority, Texas, PCR (Samsung Austin Semiconductor), AMT, 6.375%
due 4/01/2027 4,933
3,330 Lower Colorado River Authority, Texas, PCR (Samsung Austin Semiconductor), AMT, 6.95%
due 4/01/2030 3,532
7,030 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds (Reliant
Energy Inc.), Series C, 8% due 5/01/2029 7,309
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 3,900 Port Corpus Christi, Texas, Individual Development Corporation, Environmental Facilities
Revenue Bonds (Citgo Petroleum Corporation Project), AMT, 8.25% due 11/01/2031 $ 3,987
6,955 SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds,
5.50% due 8/01/2023 7,414
6,365 SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds,
5.50% due 8/01/2025 6,803
6,500 Texas State Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier,
Series A, 5.50% due 8/15/2039 (a) 6,877
7,020 Tyler, Texas, Waterworks and Sewer Revenue Bonds, 5.70% due 9/01/2010 (d)(j) 7,401
-----------------------------------------------------------------------------------------------------------------------------------
Virginia - 1.8% 1,500 James City County, Virginia, EDA, Residential Care Facility, First Mortgage Revenue
Refunding Bonds (Williamsburg Landing, Inc.), Series A, 5.35% due 9/01/2026 1,507
2,000 James City County, Virginia, EDA, Residential Care Facility, First Mortgage Revenue
Refunding Bonds (Williamsburg Landing, Inc.), Series A, 5.50% due 9/01/2034 2,016
24,800 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior-Series B,
6.67% due 8/15/2008 (j)(m) 7,171
1,000 Winchester, Virginia, IDA, Residential Care Facilities, Revenue Bonds
(Westminster-Canterbury), Series A, 5.20% due 1/01/2027 986
-----------------------------------------------------------------------------------------------------------------------------------
Washington - 0.4% 945 Vancouver, Washington, Housing Authority, Housing Revenue Bonds (Teal Pointe Apartments
Project), AMT, 6% due 9/01/2022 963
1,250 Vancouver, Washington, Housing Authority, Housing Revenue Bonds (Teal Pointe Apartments
Project), AMT, 6.20% due 9/01/2032 1,276
-----------------------------------------------------------------------------------------------------------------------------------
Wisconsin - 1.9% 690 Milwaukee, Wisconsin, Revenue Bonds (Air Cargo), AMT, 6.50% due 1/01/2025 732
1,000 Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds
(Eastcastle Place Inc. Project), 6% due 12/01/2024 1,022
1,800 Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds
(Eastcastle Place Inc. Project), 6.125% due 12/01/2034 1,834
700 Wisconsin State, GO, AMT, Series B, 6.20% due 11/01/2026 (i) 707
7,925 Wisconsin State Health and Educational Facilities Authority, Revenue Refunding Bonds
(Franciscan Sisters Healthcare), 5% due 9/01/2026 7,876
-----------------------------------------------------------------------------------------------------------------------------------
Wyoming - 0.8% 5,315 Wyoming Community Development Authority, Housing Revenue Bonds, AMT, Series 3, 4.75% due
12/01/2037 5,037
-----------------------------------------------------------------------------------------------------------------------------------
Puerto Rico - 7,755 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue
3.6% Refunding Bonds, Series N, 5.25% due 7/01/2034 (b) 8,567
7,100 Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds, Series UU, 5% due
7/01/2023 (g) 7,533
55,160 Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Refunding Bonds, Series
A, 5.06% due 8/01/2047 (a)(m) 7,636
-----------------------------------------------------------------------------------------------------------------------------------
U.S. Virgin 6,250 Virgin Islands Public Finance Authority, Refinery Facilities Revenue Bonds (Hovensa
Islands - 1.0% Refinery), AMT, 6.125% due 7/01/2022 6,745
-----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds (Cost - $899,852) - 143.2% 935,476
-----------------------------------------------------------------------------------------------------------------------------------
Municipal Bonds Held in Trust (o)
-----------------------------------------------------------------------------------------------------------------------------------
New York - 3.3% 10,000 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2014 (d) 10,732
10,000 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2015 (d) 10,732
-----------------------------------------------------------------------------------------------------------------------------------
South Carolina - 7,795 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds
2.8% (Charleston County
School District), 5.25% due 12/01/2028 (b) 8,241
6,920 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds
(Charleston County School District), 5.25% due 12/01/2029 (b)
7,307
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 2,510 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue Bonds
(Charleston County School District), 5.25% due 12/01/2030 (b) $ 2,648
-----------------------------------------------------------------------------------------------------------------------------------
Puerto Rico - 30,000 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue
5.7% Bonds, Series B, 5.875% due 7/01/2035 (i) 32,023
5,000 Puerto Rico Electric Power Authority, Power Revenue Bonds, Series HH, 5.75% due 7/01/2010
(g)(j) 5,314
-----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds Held in Trust (Cost - $75,321) - 11.8% 76,997
-----------------------------------------------------------------------------------------------------------------------------------
Shares
Held Short-Term Securities
-----------------------------------------------------------------------------------------------------------------------------------
11,700 Merrill Lynch Institutional Tax-Exempt Fund, 3.47% (f)(l) 11,700
-----------------------------------------------------------------------------------------------------------------------------------
Total Short-Term Securities (Cost - $11,700) - 1.8% 11,700
-----------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $986,873*) - 156.8% 1,024,173
Other Assets Less Liabilities - 1.4% 8,704
Liability for Trust Certificates, Including Interest Expense Payable - (5.6%) (36,300)
Preferred Stock, at Redemption Value - (52.6%) (343,390)
----------
Net Assets Applicable to Common Stock - 100.0% $ 653,187
==========
* The cost and unrealized appreciation (depreciation) of investments as of
July 31, 2007, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 952,225
=========
Gross unrealized appreciation $ 42,290
Gross unrealized depreciation (6,455)
---------
Net unrealized appreciation $ 35,835
=========
(a) AMBAC Insured.
(b) Assured Guaranty Insured.
(c) CIFG Insured.
(d) FGIC Insured.
(e) FHA Insured.
(f) Represents the current yield as of July 31, 2007.
(g) FSA Insured.
(h) GNMA Collateralized.
(i) MBIA Insured.
(j) Prerefunded.
(k) Radian Insured.
(l) 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
-------------------------------------------------------------------------
Merrill Lynch Institutional Tax-Exempt Fund 4,776 $198
-------------------------------------------------------------------------
BlackRock MuniYield Fund, Inc.
Schedule of Investments as of July 31, 2007 (Unaudited) (in Thousands)
(m) Represents a zero coupon bond; the interest rate shown reflects the
effective yield at the time of purchase.
(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) 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.
(p) XL Capital Insured.
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 and 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
(17 CFR 270.30a-3(d)) 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/ Robert C. Doll, Jr.
-----------------------------------
Robert C. Doll, Jr.,
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield Fund, Inc.
Date: September 20, 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.
-----------------------------------
Robert C. Doll, Jr.,
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield Fund, Inc.
Date: September 20, 2007
By: /s/ Donald C. Burke
-----------------------------------
Donald C. Burke,
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield Fund, Inc.
Date: September 20, 2007