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 811-07478

 

Name of Fund: BlackRock MuniVest Fund II, Inc. (MVT)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock MuniVest Fund II, 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: 07/31/2010

 

Item 1 – Schedule of Investments

 

 

 

Schedule of Investments July 31, 2010 (Unaudited)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

 

Value

 

Alabama — 1.0%

 

 

 

 

 

 

 

Prattville IDB Alabama, RB, International
Paper Co. Project, Series A, AMT,
4.75%, 12/01/30

 

$

3,500

 

$

3,064,215

 

Arizona — 2.7%

 

 

 

 

 

 

 

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

 

1,000

 

 

691,190

 

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

 

1,705

 

 

1,715,417

 

Pima County IDA, RB, Arizona Charter
Schools Project, Series C, 6.75%,
7/01/31

 

1,920

 

 

1,870,618

 

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

 

1,110

 

 

1,133,943

 

Pima County IDA, Refunding RB, Charter
Schools II, Series A, 6.75%, 7/01/21

 

475

 

 

475,736

 

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

 

1,980

 

 

2,074,862

 

 

 

 

 

 

 

 

 

 

 

 

 

7,961,766

 

California — 13.3%

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB, St. Joseph
Health System, Series A, 5.75%,
7/01/39

 

2,200

 

 

2,301,354

 

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

 

1,185

 

 

1,264,596

 

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

 

800

 

 

836,024

 

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

 

5,930

 

 

6,030,632

 

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

 

9,475

 

 

9,954,151

 

State of California, GO, Various Purpose:

 

 

 

 

 

 

6.00%, 3/01/33

 

 

2,525

 

 

2,733,313

 

6.50%, 4/01/33

 

 

14,925

 

 

16,784,804

 

 

 

 

 

 

 

 

 

 

 

 

 

39,904,874

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Colorado — 3.9%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB,
Catholic Health Initiatives, Series D,
6.25%, 10/01/33

 

$

1,060

 

$

1,176,610

 

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

 

2,190

 

 

2,191,533

 

Colorado Housing & Finance Authority,
Refunding RB, S/F Program, Senior
Series A-2, AMT, 7.50%, 4/01/31

 

105

 

 

111,630

 

Elk Valley Public Improvement Corp.,
RB, Public Improvement Fee:

 

 

 

 

 

 

Series A, 7.35%, 9/01/31

 

3,025

 

 

2,837,299

 

Series B, 7.45%, 9/01/31

 

 

400

 

 

379,000

 

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

 

 

 

 

 

 

8.00%, 12/01/25

 

 

3,300

 

 

3,432,924

 

Subordinate, 8.13%, 12/01/25

 

 

820

 

 

750,579

 

University of Colorado, RB, Series A,
5.75%, 6/01/28

 

750

 

 

859,462

 

 

 

 

 

 

 

 

 

 

 

 

 

11,739,037

 

Connecticut — 2.2%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB:

 

 

 

 

 

 

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

 

1,375

 

 

1,415,068

 

Wesleyan University, 5.00%,
7/01/35

 

3,385

 

 

3,622,593

 

Mohegan Tribe of Indians of
Connecticut, RB, Public Improvement,
Priority Distribution, 6.25%, 1/01/31

 

2,000

 

 

1,644,460

 

 

 

 

 

 

 

 

 

 

 

 

 

6,682,121

 

District of Columbia — 1.9%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB:

 

 

 

 

 

 

CAB, Second Senior Lien, Series B
(AGC), 7.05%, 10/01/33 (a)

 

6,590

 

 

1,648,884

 

CAB, Second Senior Lien, Series B
(AGC), 7.08%, 10/01/34 (a)

 

4,830

 

 

1,133,021

 

 

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

GO

General Obligation Bonds

HFA

Housing Finance Agency

HRB

Housing Revenue Bonds

IDA

Industrial Development Authority

IDB

Industrial Development Board

IDRB

Industrial Development Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

S/F

Single Family

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2010

1

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

District of Columbia (concluded)

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB: (concluded)

 

 

 

 

 

 

 

CAB, Second Senior Lien, Series B
(AGC), 7.10%, 10/01/35 (a)

 

$

6,515

 

$

1,428,805

 

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

 

 

1,500

 

 

1,567,605

 

 

 

 

 

 

 

 

 

 

 

 

 

5,778,315

 

Florida — 7.2%

 

 

 

 

 

 

 

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

 

5,680

 

 

5,830,009

 

County of Miami-Dade Florida,
Refunding RB, Miami International
Airport:

 

 

 

 

 

 

AMT (AGC), 5.00%, 10/01/40

 

 

5,795

 

 

5,644,910

 

Series A-1, 5.38%, 10/01/41

 

 

1,165

 

 

1,185,457

 

Fiddlers Creek Community Development
District No. 2, Special Assessment
Bonds (b)(c):

 

 

 

 

 

 

Series A, 6.38%, 5/01/35

 

 

2,350

 

 

915,795

 

Series B, 5.75%, 5/01/13

 

 

400

 

 

155,880

 

Hillsborough County IDA, RB:

 

 

 

 

 

 

 

H. Lee Moffitt Cancer Center
Project, Series A, 5.25%, 7/01/37

 

2,900

 

 

2,786,842

 

National Gypsum Co., Series B,
AMT, 7.13%, 4/01/30

 

2,720

 

 

2,568,986

 

Midtown Miami Community
Development District, Special
Assessment Bonds, Series A, 6.25%,
5/01/37

 

915

 

 

878,226

 

Palm Coast Park Community
Development District, Special
Assessment Bonds, 5.70%, 5/01/37

 

1,225

 

 

740,500

 

Preserve at Wilderness Lake Community
Development District, RB, Series A,
7.10%, 5/01/33

 

875

 

 

879,191

 

 

 

 

 

 

 

 

 

 

 

 

 

21,585,796

 

Georgia — 5.1%

 

 

 

 

 

 

 

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

 

845

 

 

874,457

 

Fulton County Residential Care Facilities
for the Elderly Authority, Refunding
RB, Canterbury Court Project,
Series A, 6.13%, 2/15/26

 

2,000

 

 

1,875,620

 

Gainesville Redevelopment Authority,
Refunding RB, Riverside Military
Academy, 5.13%, 3/01/37

 

600

 

 

406,278

 

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

 

3,465

 

 

3,645,630

 

Municipal Electric Authority of Georgia,
RB, Series W:

 

 

 

 

 

 

6.60%, 1/01/18

 

 

5,560

 

 

6,551,570

 

6.60%, 1/01/18 (d)

 

 

380

 

 

433,002

 

Municipal Electric Authority of Georgia,
Refunding RB, Series X, 6.50%,
1/01/20

 

1,250

 

 

1,506,588

 

 

 

 

 

 

 

 

 

 

 

 

 

15,293,145

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Guam — 0.8%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A:

 

 

 

 

 

 

 

6.00%, 11/15/19

 

$

630

 

$

654,243

 

6.75%, 11/15/29

 

 

895

 

 

959,628

 

7.00%, 11/15/39

 

 

615

 

 

665,073

 

 

 

 

 

 

 

 

 

 

 

 

 

2,278,944

 

Idaho — 0.00%

 

 

 

 

 

 

 

Idaho Housing & Finance Association,
Refunding RB, S/F Mortgage, Senior
Series E-2, AMT, 6.90%, 1/01/27

 

15

 

 

15,027

 

Illinois — 10.1%

 

 

 

 

 

 

 

City of Chicago Illinois, RB, Series C,
AMT (Ginnie Mae), 7.00%, 3/01/32

 

145

 

 

149,167

 

City of Chicago Illinois, Special
Assessment Bonds, Lake Shore East,
6.75%, 12/01/32

 

800

 

 

768,760

 

City of Chicago Illinois, Tax Allocation
Bonds, Kingsbury Redevelopment
Project, Series A, 6.57%, 2/15/13

 

900

 

 

900,486

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

Advocate Health Care Network,
Series D, 6.50%, 11/01/38

 

5,000

 

 

5,569,550

 

Community Rehabilitation Providers
Facilities, Series A, 6.50%, 7/01/22

 

1,000

 

 

1,009,200

 

Illinois Finance Authority, Refunding RB:

 

 

 

 

 

 

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

 

1,610

 

 

1,679,826

 

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

 

250

 

 

202,593

 

OSF Healthcare System, Series A,
6.00%, 5/15/39

 

1,310

 

 

1,322,406

 

Regional Transportation Authority, RB:

 

 

 

 

 

 

Series A (AMBAC), 7.20%,
11/01/20

 

1,500

 

 

1,859,565

 

Series A (NPFGC), 6.70%,
11/01/21

 

7,000

 

 

8,619,940

 

Series C (NPFGC), 7.75%, 6/01/20

 

 

2,500

 

 

3,252,450

 

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

 

630

 

 

651,174

 

Village of Hodgkins Illinois, RB, MBM
Project, AMT, 6.00%, 11/01/23

 

2,800

 

 

2,801,848

 

Village of Wheeling Illinois, Tax
Allocation Bonds, North
Milwaukee/Lake-Cook TIF Project,
6.00%, 1/01/25

 

1,550

 

 

1,438,415

 

 

 

 

 

 

 

 

 

 

 

 

 

30,225,380

 

Indiana — 5.8%

 

 

 

 

 

 

 

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

 

840

 

 

859,085

 

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

 

3,295

 

 

3,413,818

 

Indiana Health & Educational Facilities
Financing Authority, RB, Clarian
Health Obligation, Series A, 5.25%,
2/15/40

 

500

 

 

489,700

 

Indiana Transportation Finance
Authority, RB, Series A:

 

 

 

 

 

 

7.25%, 6/01/15

 

 

160

 

 

168,307

 

6.80%, 12/01/16

 

 

3,775

 

 

4,320,752

 

 

 

 

2

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2010

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Indiana (concluded)

 

 

 

 

 

 

 

Indianapolis Local Public Improvement
Bond Bank, Refunding RB, Series D,
6.75%, 2/01/14

 

$

7,450

 

$

8,126,534

 

 

 

 

 

 

 

 

 

 

 

 

 

17,378,196

 

Kansas — 0.6%

 

 

 

 

 

 

 

Kansas Development Finance Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 5.00%, 1/01/40

 

1,660

 

 

1,679,837

 

Kentucky — 0.4%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, Refunding RB,
Owensboro Medical Health System,
Series A, 6.38%, 6/01/40

 

1,010

 

 

1,052,198

 

Louisiana — 4.1%

 

 

 

 

 

 

 

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

 

8,500

 

 

8,502,465

 

Sabine River Authority Louisiana,
Refunding RB, International Paper Co.
Project, 6.20%, 2/01/25

 

3,600

 

 

3,650,940

 

 

 

 

 

 

 

 

 

 

 

 

 

12,153,405

 

Maryland — 1.7%

 

 

 

 

 

 

 

County of Montgomery Maryland, GO,
West Germantown Development
District, Senior Series A (Radian),
6.70%, 7/01/27

 

1,175

 

 

1,209,498

 

Maryland Community Development
Administration, Refunding RB,
Residential, Series D, AMT, 4.90%,
9/01/42

 

1,500

 

 

1,462,050

 

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

 

435

 

 

444,796

 

Maryland Health & Higher Educational
Facilities Authority, RB:

 

 

 

 

 

 

King Farm Presbyterian Community,
Series B, 5.00%, 1/01/17

 

875

 

 

837,428

 

University of Maryland Medical
System, Series B (NPFGC), 7.00%,
7/01/22

 

1,000

 

 

1,189,250

 

 

 

 

 

 

 

 

 

 

 

 

 

5,143,022

 

Massachusetts — 4.2%

 

 

 

 

 

 

 

Massachusetts HFA, HRB, Series A,
AMT, 5.20%, 12/01/37

 

3,000

 

 

3,023,790

 

Massachusetts HFA, RB, S/F,
Series 130, AMT, 5.00%, 12/01/32

 

 

2,720

 

 

2,687,360

 

Massachusetts HFA, Refunding HRB,
AMT:

 

 

 

 

 

 

Series D, 4.85%, 6/01/40

 

 

2,770

 

 

2,618,453

 

Series F, 5.70%, 6/01/40

 

 

2,210

 

 

2,255,327

 

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

 

1,805

 

 

1,847,977

 

 

 

 

 

 

 

 

 

 

 

 

 

12,432,907

 

Michigan — 6.4%

 

 

 

 

 

 

 

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

 

910

 

 

1,095,704

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Michigan (concluded)

 

 

 

 

 

 

 

Flint Hospital Building Authority
Michigan, Refunding RB, Hurley
Medical Center (ACA), 6.00%,
7/01/20

 

$

2,695

 

$

2,673,036

 

Michigan State Hospital Finance
Authority, Refunding RB:

 

 

 

 

 

 

Henry Ford Health System, Series A,
5.25%, 11/15/46

 

7,050

 

 

6,480,642

 

McLaren Health Care, 5.75%,
5/15/38

 

8,560

 

 

8,885,451

 

 

 

 

 

 

 

 

 

 

 

 

 

19,134,833

 

Mississippi — 3.1%

 

 

 

 

 

 

 

County of Lowndes Mississippi,
Refunding RB, Weyerhaeuser Co.
Project, Series A, 6.80%, 4/01/22

 

3,000

 

 

3,221,190

 

Mississippi Business Finance Corp.,
Refunding RB, System Energy
Resource Inc. Project, 5.90%,
5/01/22

 

5,000

 

 

4,994,000

 

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

 

1,065

 

 

1,145,343

 

 

 

 

 

 

 

 

 

 

 

 

 

9,360,533

 

Montana — 0.8%

 

 

 

 

 

 

 

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

 

2,265

 

 

2,271,750

 

Nevada — 0.2%

 

 

 

 

 

 

 

County of Clark Nevada, Special
Assessment Bonds, Special
Improvement District No. 142, Local
Improvement, 6.38%, 8/01/23

 

570

 

 

547,411

 

New Jersey — 3.1%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.50%, 6/15/24

 

 

2,795

 

 

2,764,646

 

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

 

3,000

 

 

2,856,900

 

New Jersey Health Care Facilities
Financing Authority, RB, Pascack
Valley Hospital Association, 6.63%,
7/01/36 (b)(c)

 

1,680

 

 

17

 

New Jersey State Housing & Mortgage
Finance Agency, RB, Series AA,
6.38%, 10/01/28

 

1,245

 

 

1,382,797

 

Tobacco Settlement Financing Corp.
New Jersey, Refunding RB, Series 1A,
4.50%, 6/01/23

 

2,410

 

 

2,206,668

 

 

 

 

 

 

 

 

 

 

 

 

 

9,211,028

 

New York — 8.0%

 

 

 

 

 

 

 

Metropolitan Transportation Authority,
RB, Series 2008C, 6.50%, 11/15/28

 

9,405

 

 

10,977,422

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

British Airways Plc Project, AMT,
7.63%, 12/01/32

 

1,920

 

 

1,941,005

 

Series C, 6.80%, 6/01/28

 

 

690

 

 

725,017

 

Special Needs Facilities Pooled
Program, Series C-1, 6.50%,
7/01/17

 

890

 

 

879,774

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2010

3

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

New York City Transitional Finance
Authority, RB, Fiscal 2009, Series S-3,
5.25%, 1/15/39

 

$

6,700

 

$

7,166,856

 

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

 

1,220

 

 

1,274,998

 

Westchester County Industrial
Development Agency New York, RB,
Special Needs Facilities Pooled
Program, Series E-1, 6.50%, 7/01/17

 

1,000

 

 

988,510

 

 

 

 

 

 

 

 

 

 

 

 

 

23,953,582

 

North Carolina — 1.7%

 

 

 

 

 

 

 

Gaston County Industrial Facilities &
Pollution Control Financing Authority
North Carolina, RB, Exempt Facilities,
National Gypsum Co. Project, AMT,
5.75%, 8/01/35

 

 

1,675

 

 

1,318,945

 

North Carolina Medical Care
Commission, RB, Duke University
Health System, Series A:

 

 

 

 

 

 

5.00%, 6/01/39

 

 

630

 

 

647,168

 

5.00%, 6/01/42

 

 

1,400

 

 

1,433,054

 

North Carolina Medical Care
Commission, Refunding RB, Carolina
Village Project, 6.00%, 4/01/38

 

2,000

 

 

1,719,880

 

 

 

 

 

 

 

 

 

 

 

 

 

5,119,047

 

Ohio — 3.2%

 

 

 

 

 

 

 

Buckeye Tobacco Settlement Financing
Authority, RB, Asset-Backed, Senior
Series A-2, 6.50%, 6/01/47

 

12,500

 

 

9,694,000

 

Pennsylvania — 4.4%

 

 

 

 

 

 

 

Bucks County IDA, RB, Ann’s Choice Inc.
Facility, Series A, 6.13%, 1/01/25

 

880

 

 

863,861

 

Lancaster County Hospital Authority, RB,
Brethren Village Project, Series A,
6.50%, 7/01/40

 

2,000

 

 

1,953,520

 

Montgomery County IDA Pennsylvania,
MRB, Whitemarsh Continuing Care:

 

 

 

 

 

 

6.13%, 2/01/28

 

 

470

 

 

399,481

 

6.25%, 2/01/35

 

 

1,090

 

 

881,516

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

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

 

1,890

 

 

1,942,183

 

National Gypsum Co., Series B,
AMT, 6.13%, 11/01/27

 

2,000

 

 

1,705,940

 

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

 

3,915

 

 

4,031,863

 

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

 

1,265

 

 

1,266,492

 

 

 

 

 

 

 

 

 

 

 

 

 

13,044,856

 

Puerto Rico — 2.6%

 

 

 

 

 

 

 

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

 

2,990

 

 

3,169,789

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico (concluded)

 

 

 

 

 

 

 

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

 

$

4,255

 

$

4,716,412

 

 

 

 

 

 

 

 

 

 

 

 

 

7,886,201

 

Tennessee — 0.7%

 

 

 

 

 

 

 

Johnson City Health & Educational
Facilities Board, RB, Appalachian
Christian Village Project, Series A,
6.00%, 2/15/24

 

1,000

 

 

976,460

 

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

 

1,025

 

 

1,050,973

 

 

 

 

 

 

 

 

 

 

 

 

 

2,027,433

 

Texas — 10.7%

 

 

 

 

 

 

 

Brazos River Authority, Refunding RB,
AMT:

 

 

 

 

 

 

TXU Electric Co. Project, Series C,
Mandatory Put Bonds, 5.75%,
5/01/36 (e)

 

1,200

 

 

1,143,348

 

Texas Utility Co., 7.70%, 4/01/33

 

 

1,500

 

 

798,795

 

Brazos River Harbor Navigation District,
Refunding RB, Dow Chemical Co.
Project, Series A7, AMT, 6.63%,
5/15/33

 

3,000

 

 

3,052,740

 

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

 

1,510

 

 

1,610,355

 

City of Houston Texas, RB, Special
Facilities, Continental Airlines,
Series E, AMT, 6.75%, 7/01/21

 

4,820

 

 

4,795,755

 

Guadalupe-Blanco River Authority, RB,
E.I. du Pont de Nemours & Co. Project,
AMT, 6.40%, 4/01/26

 

2,250

 

 

2,251,935

 

Harris County Health Facilities
Development Corp., Refunding RB,
Memorial Hermann Healthcare
System, Series B, 7.25%, 12/01/35

 

2,000

 

 

2,275,740

 

North Texas Tollway Authority,
Refunding RB, First Tier, Series A,
6.25%, 1/01/39

 

7,000

 

 

7,635,110

 

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

 

 

 

 

 

 

LBJ Infrastructure, 7.00%, 6/30/40

 

4,310

 

 

4,483,908

 

Note Mobility, 6.88%, 12/31/39

 

 

3,875

 

 

4,021,708

 

 

 

 

 

 

 

 

 

 

 

 

 

32,069,394

 

U.S. Virgin Islands — 2.0%

 

 

 

 

 

 

 

United States Virgin Islands, Refunding
RB, Senior Secured, Hovensa Coker
Project, AMT, 6.50%, 7/01/21

 

6,000

 

 

6,092,520

 

Utah — 1.0%

 

 

 

 

 

 

 

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

 

2,780

 

 

2,844,913

 

Virginia — 2.1%

 

 

 

 

 

 

 

Fairfax County EDA, Refunding RB,
Goodwin House Inc.:

 

 

 

 

 

 

5.13%, 10/01/37

 

 

1,000

 

 

979,110

 

5.13%, 10/01/42

 

 

3,440

 

 

3,347,257

 

 

 

 

4

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2010

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Virginia (concluded)

 

 

 

 

 

 

 

Tobacco Settlement Financing Corp.
Virginia, Refunding RB, Senior
Series B1, 5.00%, 6/01/47

 

$

2,905

 

$

1,880,610

 

 

 

 

 

 

 

 

 

 

 

 

 

6,206,977

 

Washington — 3.5%

 

 

 

 

 

 

 

Energy Northwest, Refunding RB,
Series B, 7.13%, 7/01/16

 

5,000

 

 

6,381,950

 

Washington Health Care Facilities
Authority, Refunding RB, Catholic
Health Initiatives, Series D, 6.38%,
10/01/36

 

3,700

 

 

4,089,721

 

 

 

 

 

 

 

 

 

 

 

 

 

10,471,671

 

Wisconsin — 5.6%

 

 

 

 

 

 

 

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

 

7,100

 

 

7,890,088

 

Wisconsin Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

Ascension Health Senior Credit
Group, 5.00%, 11/15/33

 

2,465

 

 

2,507,176

 

SynergyHealth Inc., 6.00%,
11/15/32

 

2,215

 

 

2,280,409

 

Wisconsin Housing & EDA, Refunding
RB, AMT:

 

 

 

 

 

 

Series A, 5.63%, 3/01/31

 

 

1,745

 

 

1,812,479

 

Series C, 4.88%, 3/01/36

 

 

2,420

 

 

2,356,064

 

 

 

 

 

 

 

 

 

 

 

 

 

16,846,216

 

Total Municipal Bonds – 124.1%

 

 

 

 

 

371,150,550

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (f)

 

 

 

 

 

 

 

California — 3.3%

 

 

 

 

 

 

 

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

 

3,271

 

 

3,576,229

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/18

 

2,610

 

 

2,805,176

 

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

 

2,290

 

 

2,349,815

 

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

 

1,077

 

 

1,147,771

 

 

 

 

 

 

 

 

 

 

 

 

 

9,878,991

 

Colorado — 0.8%

 

 

 

 

 

 

 

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

 

2,129

 

 

2,271,527

 

Connecticut — 2.1%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University,
Series Z-3, 5.05%, 7/01/42

 

6,000

 

 

6,384,780

 

Illinois — 1.6%

 

 

 

 

 

 

 

City of Chicago Illinois, Refunding RB,
Second Lien (AGM), 5.25%, 11/01/33

 

1,320

 

 

1,406,776

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (f)

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Illinois State Toll Highway Authority, RB,
Series B, 5.50%, 1/01/33

 

$

2,999

 

$

3,275,750

 

 

 

 

 

 

 

 

 

 

 

 

 

4,682,526

 

Maryland — 0.8%

 

 

 

 

 

 

 

Maryland State Transportation Authority,
RB, Transportation Facility Project
(AGM), 5.00%, 7/01/41

 

2,290

 

 

2,429,690

 

Massachusetts — 3.5%

 

 

 

 

 

 

 

Massachusetts School Building
Authority, RB, Series A (AGM), 5.00%,
8/15/30

 

10,000

 

 

10,489,600

 

New Hampshire — 0.7%

 

 

 

 

 

 

 

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

 

2,009

 

 

2,189,674

 

New York — 4.8%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

Series DD, 5.00%, 6/15/37

 

 

6,299

 

 

6,595,001

 

Series FF-2, 5.50%, 6/15/40

 

 

1,575

 

 

1,758,255

 

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

 

5,790

 

 

5,982,087

 

 

 

 

 

 

 

 

 

 

 

 

 

14,335,343

 

North Carolina — 2.2%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, Refunding RB, Duke
University Project, Series A, 5.00%,
10/01/41

 

6,239

 

 

6,517,976

 

Ohio — 5.7%

 

 

 

 

 

 

 

Ohio Higher Educational Facility
Commission, Refunding RB, Hospital,
Cleveland Clinic Health, Series A,
5.25%, 1/01/33

 

2,400

 

 

2,503,152

 

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

 

13,840

 

 

14,681,057

 

 

 

 

 

 

 

 

 

 

 

 

 

17,184,209

 

South Carolina — 1.8%

 

 

 

 

 

 

 

South Carolina State Public Service
Authority, RB, Santee Cooper,
Series A, 5.50%, 1/01/38

 

4,995

 

 

5,462,432

 

Texas — 6.5%

 

 

 

 

 

 

 

Harris County Health Facilities
Development Corp., Refunding RB,
School Health Care System, Series B,
5.75%, 7/01/27 (d)

 

10,000

 

 

12,377,400

 

Texas Department of Housing &
Community Affairs, MRB, Series B,
AMT (Ginnie Mae), 5.25%, 9/01/32

 

4,001

 

 

4,059,084

 

Texas State University Systems,
Refunding RB (AGM), 5.00%, 3/15/30

 

2,743

 

 

2,855,035

 

 

 

 

 

 

 

 

 

 

 

 

 

19,291,519

 

Washington — 7.4%

 

 

 

 

 

 

 

Central Puget Sound Regional Transit
Authority, RB, Series A:

 

 

 

 

 

 

5.00%, 11/01/34

 

 

6,750

 

 

6,985,710

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2010

5

 

 

 

Schedule of Investments (concluded)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (f)

 

Par
(000)

 

Value

 

Washington (concluded)

 

 

 

 

 

 

 

Central Puget Sound Regional Transit
Authority, RB, Series A: (concluded)

 

 

 

 

 

 

 

5.00%, 11/01/36

 

$

6,750

 

$

6,985,710

 

(AGM), 5.00%, 11/01/32

 

 

7,693

 

 

8,148,456

 

 

 

 

 

 

 

 

 

 

 

 

 

22,119,876

 

Wisconsin — 0.9%

 

 

 

 

 

 

 

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

 

2,499

 

 

2,571,125

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 42.1%

 

 

 

 

 

125,809,268

 

Total Long-Term Investments
(Cost – $476,420,220) – 166.2%

 

 

 

 

 

496,959,818

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.21% (g)(h)

 

 

4,612,254

 

 

4,612,254

 

Total Short-Term Securities
(Cost – $4,612,254) – 1.5%

 

 

 

 

 

4,612,254

 

Total Investments
(Cost – $481,032,474*) – 167.7%

 

 

 

 

 

501,572,072

 

Other Assets Less Liabilities – 1.4%

 

 

 

 

 

4,282,884

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (22.3)%

 

 

 

 

 

(66,840,551

)

Preferred Shares, at Redemption Value – (46.8)%

 

 

 

 

 

(140,020,657

)

 

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

298,993,748

 

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of July 31, 2010, as computed for federal income tax purposes, were as follows:


 

 

 

 

 

Aggregate cost

 

$

414,285,127

 

 

 

 

Gross unrealized appreciation

 

$

31,253,943

 

Gross unrealized depreciation

 

 

(10,746,914

)

 

 

 

Net unrealized appreciation

 

$

20,507,029

 

 

 

 

 

 

(a)

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

 

 

(b)

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

 

 

(c)

Non-income producing security.

 

 

(d)

Security is collateralized by Municipal or US Treasury obligations.

 

 

(e)

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

 

 

(f)

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.

 

 

(g)

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, are as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares Held
at April 30,
2010

 

Net Activity

 

Shares Held
at July 31,
2010

 

Income

 

FFI

 

 

 

 

 

 

 

 

 

 

 

 

 

Institutional
Tax-Exempt
Fund

 

 

552,231

 

 

4,060,023

 

 

4,612,254

 

$

1,599

 

 

 

(h)

Represents the current yield as of report date.


 

 

 

•

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 annual report.

The following table summarizes the inputs used as of July 31, 2010 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

 

 

—

 

$

496,959,818

 

 

—

 

$

496,959,818

 

Short-Term
Securities

 

$

4,612,254

 

 

—

 

 

—

 

 

4,612,254

 

Total

 

$

4,612,254

 

$

496,959,818

 

 

—

 

$

501,572,072

 

 

 

 

 

1

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


 

 

 

6

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2010

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 MuniVest Fund II, Inc.

 

 
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock MuniVest Fund II, Inc.
   
  Date: September 27, 2010
   
  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/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: September 27, 2010
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniVest Fund II, Inc.
     
  Date: September 27, 2010