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: John M. Perlowski, 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: 04/30/2012

 

Date of reporting period: 07/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

 

Schedule of Investments July 31, 2011 (Unaudited)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 0.9%

 

 

 

 

 

 

 

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

 

$

3,025

 

$

2,642,791

 

Alaska — 0.5%

 

 

 

 

 

 

 

Northern Tobacco Securitization Corp.,
RB, Asset-Backed, Series A, 5.00%,
6/01/46

 

 

2,250

 

 

1,484,978

 

Arizona — 2.1%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

667,930

 

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

 

 

1,900

 

 

1,842,297

 

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

 

 

1,110

 

 

1,123,442

 

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

 

 

465

 

 

465,642

 

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

 

 

1,980

 

 

2,024,649

 

 

 

 

 

 

 

6,123,960

 

Arkansas — 0.5%

 

 

 

 

 

 

 

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

 

 

1,660

 

 

1,607,146

 

California — 14.6%

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

2,200

 

 

2,224,970

 

Sutter Health, Series B,
6.00%, 8/15/42

 

 

3,170

 

 

3,376,937

 

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

 

 

1,185

 

 

1,258,186

 

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

 

 

800

 

 

823,648

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

$

5,930

 

$

6,013,850

 

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

 

 

9,475

 

 

9,595,806

 

State of California, GO, Various
Purposes:

 

 

 

 

 

 

 

6.00%, 3/01/33

 

 

2,525

 

 

2,758,386

 

6.50%, 4/01/33

 

 

14,925

 

 

16,708,836

 

 

 

 

 

 

 

42,760,619

 

Colorado — 2.8%

 

 

 

 

 

 

 

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

 

 

1,060

 

 

1,150,248

 

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

 

 

2,190

 

 

2,118,934

 

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

 

 

85

 

 

87,714

 

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

 

 

 

 

 

 

 

8.00%, 12/01/25

 

 

3,300

 

 

3,305,016

 

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

 

 

820

 

 

752,170

 

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

 

 

750

 

 

841,283

 

 

 

 

 

 

 

8,255,365

 

Connecticut — 2.2%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,375

 

 

1,387,911

 

Wesleyan University, 5.00%,
7/01/35

 

 

3,385

 

 

3,513,156

 

 

 

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

American Capital Access 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

TIF

Tax Increment Financing

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

1


 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Connecticut (concluded)

 

 

 

 

 

 

 

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

 

$

2,000

 

$

1,604,400

 

 

 

 

 

 

 

6,505,467

 

Delaware — 1.6%

 

 

 

 

 

 

 

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

 

 

1,125

 

 

1,133,719

 

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

 

 

4,065

 

 

3,666,508

 

 

 

 

 

 

 

4,800,227

 

District Of Columbia — 2.0%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB:

 

 

 

 

 

 

 

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

 

 

6,590

 

 

1,651,454

 

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

 

 

4,830

 

 

1,129,544

 

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

 

 

6,515

 

 

1,420,921

 

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

 

 

1,500

 

 

1,507,800

 

 

 

 

 

 

 

5,709,719

 

Florida — 7.0%

 

 

 

 

 

 

 

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

 

 

5,680

 

 

5,775,765

 

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

 

 

1,165

 

 

1,172,037

 

County of Miami-Dade Florida,
Refunding RB, Miami International
Airport, AMT (AGC), 5.00%, 10/01/40

 

 

4,940

 

 

4,450,693

 

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

 

 

 

 

 

 

 

Series A, 6.38%, 5/01/35

 

 

2,350

 

 

846,940

 

Series B, 5.75%, 5/01/13

 

 

400

 

 

144,160

 

Hillsborough County IDA, RB:

 

 

 

 

 

 

 

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

 

 

1,050

 

 

970,357

 

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

 

 

2,720

 

 

2,473,514

 

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

 

 

2,265

 

 

2,306,381

 

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

 

 

915

 

 

877,659

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

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

 

$

1,200

 

$

716,184

 

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

 

 

860

 

 

860,774

 

 

 

 

 

 

 

20,594,464

 

Georgia — 5.5%

 

 

 

 

 

 

 

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

 

 

845

 

 

857,413

 

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

 

 

2,000

 

 

1,840,460

 

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

 

 

3,465

 

 

3,459,664

 

Municipal Electric Authority of Georgia,
RB, Series W:

 

 

 

 

 

 

 

6.60%, 1/01/18 (d)

 

 

380

 

 

420,250

 

6.60%, 1/01/18

 

 

5,540

 

 

6,378,313

 

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

 

 

1,205

 

 

1,428,045

 

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

 

 

1,525

 

 

1,566,129

 

 

 

 

 

 

 

15,950,274

 

Guam — 0.7%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A:

 

 

 

 

 

 

 

6.00%, 11/15/19

 

 

630

 

 

625,754

 

6.75%, 11/15/29

 

 

895

 

 

910,779

 

7.00%, 11/15/39

 

 

615

 

 

634,477

 

 

 

 

 

 

 

2,171,010

 

Hawaii — 0.5%

 

 

 

 

 

 

 

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

 

 

1,355

 

 

1,401,761

 

Illinois — 14.8%

 

 

 

 

 

 

 

City of Chicago Illinois, Refunding RB,
General, Third Lien, Series C, 6.50%,
1/01/41

 

 

5,865

 

 

6,454,491

 

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

 

 

800

 

 

795,968

 

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

 

 

700

 

 

699,874

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

 

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

 

 

5,000

 

 

5,425,900

 

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

 

 

530

 

 

565,727

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

2


 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Illinois Finance Authority, RB (concluded):

 

 

 

 

 

 

 

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

 

$

470

 

$

430,755

 

Navistar International,
Recovery Zone, 6.50%,
10/15/40

 

 

1,540

 

 

1,582,735

 

Illinois Finance Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

1,610

 

 

1,633,313

 

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

 

 

250

 

 

198,440

 

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

 

 

 

 

 

 

 

Series B, 5.00%, 6/15/50

 

 

3,150

 

 

2,893,464

 

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

 

 

2,500

 

 

2,296,400

 

Railsplitter Tobacco Settlement Authority,
RB:

 

 

 

 

 

 

 

5.50%, 6/01/23

 

 

1,335

 

 

1,383,127

 

6.00%, 6/01/28

 

 

1,140

 

 

1,174,029

 

Regional Transportation Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,380

 

 

1,658,167

 

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

 

 

7,000

 

 

8,315,790

 

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

 

 

2,500

 

 

3,073,550

 

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

 

 

630

 

 

639,293

 

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

 

 

2,800

 

 

2,800,784

 

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

 

 

1,550

 

 

1,416,405

 

 

 

 

 

 

 

43,438,212

 

Indiana — 5.5%

 

 

 

 

 

 

 

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

 

 

840

 

 

843,839

 

Indiana Finance Authority, Refunding
RB:

 

 

 

 

 

 

 

Ascension Health Senior
Credit, Series B-5, 5.00%,
11/15/36

 

 

1,500

 

 

1,504,035

 

Parkview Health System,
Series A, 5.75%, 5/01/31

 

 

3,295

 

 

3,413,422

 

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

 

 

500

 

 

480,700

 

Indiana Transportation Finance
Authority, RB, Series A, 6.80%,
12/01/16

 

 

3,290

 

 

3,715,693

 

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

 

 

5,890

 

 

6,282,569

 

 

 

 

 

 

 

16,240,258

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Kansas — 0.6%

 

 

 

 

 

 

 

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

 

$

1,660

 

$

1,674,691

 

Kentucky — 0.4%

 

 

 

 

 

 

 

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

 

 

1,010

 

 

1,029,352

 

Louisiana — 5.0%

 

 

 

 

 

 

 

Louisiana Local Government
Environmental Facilities & Community
Development Authority, RB, Westlake
Chemical Corp., Series A-1, 6.50%,
11/01/35

 

 

3,320

 

 

3,435,968

 

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

 

 

7,500

 

 

7,500,825

 

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

 

 

3,600

 

 

3,638,592

 

 

 

 

 

 

 

14,575,385

 

Maryland — 1.7%

 

 

 

 

 

 

 

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

 

 

1,155

 

 

1,188,090

 

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

 

 

1,500

 

 

1,404,660

 

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

 

 

435

 

 

426,287

 

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

 

 

830

 

 

818,928

 

Maryland Health & Higher Educational
Facilities Authority, RB, University of
Maryland Medical System, Series B
(NPFGC), 7.00%, 7/01/22

 

 

1,000

 

 

1,174,800

 

 

 

 

 

 

 

5,012,765

 

Massachusetts — 4.0%

 

 

 

 

 

 

 

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

 

 

3,000

 

 

2,961,630

 

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

 

 

2,720

 

 

2,643,350

 

Massachusetts HFA, Refunding HRB,
AMT:

 

 

 

 

 

 

 

Series D, 4.85%, 6/01/40

 

 

2,270

 

 

2,142,131

 

Series F, 5.70%, 6/01/40

 

 

2,155

 

 

2,185,752

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

3


 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Massachusetts (concluded)

 

 

 

 

 

 

 

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

 

$

1,805

 

$

1,810,776

 

 

 

 

 

 

 

11,743,639

 

Michigan — 8.5%

 

 

 

 

 

 

 

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

 

 

910

 

 

1,072,917

 

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

 

 

2,465

 

 

2,451,418

 

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

 

 

1,380

 

 

1,376,177

 

Michigan Finance Authority, RB, State
Aid Notes, Detroit School, Series A-1,
6.45%, 2/02/12

 

 

3,255

 

 

3,310,823

 

Michigan State Hospital Finance
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

7,050

 

 

6,322,793

 

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

 

 

8,560

 

 

8,766,810

 

Royal Oak Hospital Finance Authority
Michigan, Refunding RB, William
Beaumont Hospital, 8.25%, 9/01/39

 

 

1,400

 

 

1,616,286

 

 

 

 

 

 

 

24,917,224

 

Mississippi — 1.5%

 

 

 

 

 

 

 

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

 

 

3,000

 

 

3,176,130

 

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

 

 

1,065

 

 

1,108,505

 

 

 

 

 

 

 

4,284,635

 

Nevada — 0.2%

 

 

 

 

 

 

 

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

 

 

555

 

 

563,403

 

New Jersey — 3.4%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.50%,
6/15/24

 

 

2,420

 

 

2,380,409

 

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

 

 

3,000

 

 

2,863,770

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

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

 

 

1,210

 

 

1,299,213

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
Series A, 5.50%, 6/15/41

 

 

1,635

 

 

1,707,087

 

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

 

 

1,860

 

 

1,686,016

 

 

 

 

 

 

 

9,936,512

 

New York — 9.3%

 

 

 

 

 

 

 

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

 

 

9,405

 

 

10,879,140

 

Metropolitan Transportation Authority,
Refunding RB, Transportation,
Series D, 5.25%, 11/15/40

 

 

1,205

 

 

1,219,930

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

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

 

 

1,920

 

 

1,943,194

 

Series C, 6.80%, 6/01/28

 

 

690

 

 

713,108

 

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

 

 

890

 

 

868,070

 

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

 

 

6,700

 

 

6,959,424

 

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

 

 

1,254,855

 

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

 

 

 

 

 

 

 

6.00%, 12/01/36

 

 

1,165

 

 

1,183,698

 

6.00%, 12/01/42

 

 

1,250

 

 

1,264,575

 

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

 

 

1,000

 

 

975,360

 

 

 

 

 

 

 

27,261,354

 

North Carolina — 1.5%

 

 

 

 

 

 

 

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

 

 

1,277,003

 

North Carolina Medical Care
Commission, RB, Duke University
Health System, Series A, 5.00%,
6/01/42

 

 

1,400

 

 

1,411,648

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

4


 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

North Carolina (concluded)

 

 

 

 

 

 

 

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

 

$

2,000

 

$

1,761,820

 

 

 

 

 

 

 

4,450,471

 

Pennsylvania — 4.0%

 

 

 

 

 

 

 

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

 

 

4,250

 

 

3,573,655

 

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

 

 

880

 

 

834,856

 

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

 

 

2,000

 

 

1,956,520

 

Montgomery County IDA Pennsylvania,
MRB, Whitemarsh Continuing Care,
6.13%, 2/01/28

 

 

470

 

 

406,597

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,890

 

 

1,919,351

 

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

 

 

2,000

 

 

1,650,880

 

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

 

 

1,265

 

 

1,265,949

 

 

 

 

 

 

 

11,607,808

 

Puerto Rico — 1.6%

 

 

 

 

 

 

 

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

 

 

4,255

 

 

4,599,017

 

South Carolina — 1.1%

 

 

 

 

 

 

 

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

 

 

3,280

 

 

3,338,318

 

Tennessee — 0.3%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

933,160

 

Texas — 10.8%

 

 

 

 

 

 

 

Brazos River Authority, Refunding RB,
Texas Utility Co., Series A, 7.70%,
4/01/33

 

 

1,500

 

 

547,785

 

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

 

 

3,000

 

 

3,055,350

 

Central Texas Regional Mobility
Authority, RB, Senior Lien, 6.25%,
1/01/46

 

 

2,140

 

 

2,132,360

 

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

 

 

1,510

 

 

1,589,335

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

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

 

$

4,820

 

$

4,821,976

 

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

 

 

2,000

 

 

2,215,160

 

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

 

 

7,000

 

 

7,281,470

 

Sabine River Authority Texas, Refunding
RB, TXU Electric Co. Project, Series B,
Mandatory Put Bonds, AMT, 5.75%,
5/01/30 (f)

 

 

2,250

 

 

2,209,208

 

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

 

 

 

 

 

 

 

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

 

 

3,950

 

 

4,199,877

 

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

 

 

3,375

 

 

3,556,373

 

 

 

 

 

 

 

31,608,894

 

US Virgin Islands — 2.0%

 

 

 

 

 

 

 

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

 

 

6,000

 

 

5,930,280

 

Utah — 1.0%

 

 

 

 

 

 

 

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

 

 

2,780

 

 

2,781,751

 

Virginia — 1.4%

 

 

 

 

 

 

 

Fairfax County EDA, Refunding RB,
Goodwin House Inc:

 

 

 

 

 

 

 

5.13%, 10/01/37

 

 

1,000

 

 

910,850

 

5.13%, 10/01/42

 

 

3,440

 

 

3,079,522

 

 

 

 

 

 

 

3,990,372

 

Washington — 2.1%

 

 

 

 

 

 

 

Washington Health Care Facilities
Authority, RB, Swedish Health
Services, Series A, 6.75%, 11/15/41

 

 

1,980

 

 

2,118,838

 

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

 

 

3,700

 

 

3,998,516

 

 

 

 

 

 

 

6,117,354

 

Wisconsin — 4.3%

 

 

 

 

 

 

 

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

 

 

7,100

 

 

7,731,971

 

Wisconsin Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

 

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

 

 

2,465

 

 

2,488,146

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

5


 

 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Wisconsin (concluded)

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, RB (concluded):

 

 

 

 

 

 

 

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

 

$

2,215

 

$

2,250,440

 

 

 

 

 

 

 

12,470,557

 

Total Municipal Bonds – 125.9%

 

 

 

 

 

368,513,193

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (g)

 

 

 

 

 

 

 

California — 3.3%

 

 

 

 

 

 

 

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

 

 

3,271

 

 

3,446,083

 

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

 

 

2,610

 

 

2,733,584

 

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

 

 

2,290

 

 

2,347,250

 

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

 

 

1,077

 

 

1,134,321

 

 

 

 

 

 

 

9,661,238

 

Colorado — 0.8%

 

 

 

 

 

 

 

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

 

 

2,129

 

 

2,196,891

 

Connecticut — 2.1%

 

 

 

 

 

 

 

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

 

 

6,000

 

 

6,201,180

 

Illinois — 1.5%

 

 

 

 

 

 

 

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

 

 

1,320

 

 

1,353,065

 

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

 

 

2,999

 

 

3,097,520

 

 

 

 

 

 

 

4,450,585

 

Maryland — 0.8%

 

 

 

 

 

 

 

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

 

 

2,290

 

 

2,355,998

 

Massachusetts — 3.6%

 

 

 

 

 

 

 

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

 

 

10,000

 

 

10,392,500

 

New Hampshire — 0.7%

 

 

 

 

 

 

 

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

 

 

2,009

 

 

2,127,947

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (g)

 

Par
(000)

 

Value

 

New York — 4.8%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Series DD, 5.00%, 6/15/37

 

$

6,299

 

$

6,438,383

 

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

 

 

1,575

 

 

1,684,435

 

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

 

 

5,789

 

 

5,900,263

 

 

 

 

 

 

 

14,023,081

 

North Carolina — 2.2%

 

 

 

 

 

 

 

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

 

 

6,239

 

 

6,389,994

 

Ohio — 5.7%

 

 

 

 

 

 

 

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

 

 

2,400

 

 

2,451,000

 

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

 

 

13,840

 

 

14,324,815

 

 

 

 

 

 

 

16,775,815

 

South Carolina — 1.8%

 

 

 

 

 

 

 

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

 

 

4,995

 

 

5,320,025

 

Texas — 6.3%

 

 

 

 

 

 

 

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

 

 

10,000

 

 

12,248,500

 

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

 

 

3,491

 

 

3,504,522

 

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

 

 

2,743

 

 

2,825,416

 

 

 

 

 

 

 

18,578,438

 

Washington — 5.9%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.00%, 11/01/34

 

 

4,500

 

 

4,616,258

 

5.00%, 11/01/36

 

 

4,500

 

 

4,616,257

 

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

 

 

7,693

 

 

7,964,315

 

 

 

 

 

 

 

17,196,830

 

Wisconsin — 0.9%

 

 

 

 

 

 

 

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

 

 

2,499

 

 

2,508,646

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

6


 

 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

Value

 

 

 

 

Total Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts – 40.4%

 

 

 

 

$

118,179,168

 

Total Long-Term Investments
(Cost – $471,890,401) – 166.3%

 

 

 

 

 

486,692,361

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.01% (h)(i)

 

 

3,476,906

 

 

3,477,002

 

Total Short-Term Securities
(Cost – $3,477,002) – 1.2%

 

 

 

 

 

3,477,002

 

Total Investments
(Cost – $475,367,403*) – 167.5%

 

 

 

 

 

490,169,363

 

Other Assets Less Liabilities– 1.5%

 

 

 

 

 

4,541,331

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (21.2)%

 

 

 

 

 

(62,045,144

)

AMPS, at Redemption Value – (47.8)%

 

 

 

 

 

(140,000,000

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

292,665,550

 

 

 

 

*

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


 

 

 

 

 

Aggregate cost

 

$

413,389,250

 

Gross unrealized appreciation

 

$

24,051,008

 

Gross unrealized depreciation

 

 

(9,295,297

)

Net unrealized appreciation

 

$

14,755,711

 

 

 

(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)

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

 

 

(f)

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

 

 

(g)

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

 

 

(h)

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


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares Held at
April 30,
2011

 

Net
Activity

 

Shares Held at
July 31,
2011

 

Income

 

FFI Institutional Tax-Exempt Fund

 

 

5,653,323

 

 

(2,176,321

)

 

3,477,002

 

$

491

 

 

 

(i)

Represents the current yield as of report date.

 

 

•

Financial futures contracts sold as of July 31, 2011 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

139

 

 

10-Year US Treasury Note

 

 

Chicago Board of Trade

 

 

September 2011

 

$

17,043,525

 

$

(427,038

)

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized in three broad levels for financial reporting purposes 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 and derivative financial instruments)

The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and does not necessarily correspond to the Fund’s perceived risk of investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

The following tables summarize the inputs used as of July 31, 2011 in determining the fair valuation of the Fund’s investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments1

 

 

—

 

$

486,692,361

 

 

—

 

$

486,692,361

 

Short-Term Securities

 

$

3,477,002

 

 

—

 

 

—

 

 

3,477,002

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

3,477,002

 

$

486,692,361

 

 

—

 

$

490,169,363

 

 

 

1

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


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate contracts

 

$

(427,038

)

 

—

 

 

—

 

$

(427,038

)

 

 

2

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.


 

 

 

 

 

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JULY 31, 2011

7

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/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: September 26, 2011
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: September 26, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniVest Fund II, Inc.
     
  Date: September 26, 2011