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 811-05611
Name of Fund: BlackRock MuniVest Fund, Inc. (MVF)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniVest Fund, Inc., 55 East 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 08/31/2012
Date of reporting period: 05/31/2012
Item 1 – Schedule of Investments
|
|
|
|
Schedule of Investments May 31, 2012 (Unaudited) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Alabama 3.0% |
|
|
|
|
|
|
|
Alabama State Docks Department, |
|
$ |
7,610 |
|
$ |
8,673,345 |
|
Camden IDB Alabama, RB, |
|
|
2,550 |
|
|
2,772,946 |
|
Selma IDB Alabama, RB: |
|
|
|
|
|
|
|
Gulf Opportunity Zone, |
|
|
1,850 |
|
|
2,007,972 |
|
International Paper Co., |
|
|
1,000 |
|
|
1,072,230 |
|
Selma IDB Alabama, Refunding RB, |
|
|
5,000 |
|
|
5,208,600 |
|
|
|
|
|
|
|
19,735,093 |
|
Alaska 0.1% |
|
|
|
|
|
|
|
Northern Tobacco Securitization Corp., |
|
|
1,250 |
|
|
938,788 |
|
Arizona 4.0% |
|
|
|
|
|
|
|
Maricopa County IDA, RB, Arizona |
|
|
4,100 |
|
|
2,853,149 |
|
Maricopa County Pollution Control Corp., |
|
|
3,300 |
|
|
3,621,090 |
|
Phoenix Civic Improvement Corp., RB, |
|
|
2,000 |
|
|
2,158,400 |
|
Pima County IDA, RB: |
|
|
|
|
|
|
|
Arizona Charter School Project, |
|
|
1,995 |
|
|
1,996,257 |
|
Charter Schools, Series I, |
|
|
645 |
|
|
645,425 |
|
Pima County IDA, Refunding RB: |
|
|
|
|
|
|
|
Arizona Charter, Series I, |
|
|
110 |
|
|
116,436 |
|
Arizona Charter, Series I, |
|
|
230 |
|
|
243,952 |
|
Arizona Charter, Series I, |
|
|
370 |
|
|
390,354 |
|
Arizona Charter, Series I, |
|
|
740 |
|
|
782,550 |
|
Charter Schools, 6.75%, |
|
|
255 |
|
|
256,395 |
|
Salt River Project Agricultural |
|
|
7,000 |
|
|
8,288,140 |
|
Salt Verde Financial Corp., RB, Senior, |
|
|
5,000 |
|
|
5,109,050 |
|
|
|
|
|
|
|
26,461,198 |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
California 11.5% |
|
|
|
|
|
|
|
California Health Facilities Financing |
|
|
|
|
|
|
|
Scripps Health, Series A, |
|
$ |
2,800 |
|
$ |
3,046,204 |
|
Stanford Hospital and Clinics, |
|
|
3,750 |
|
|
4,064,737 |
|
Sutter Health, Series B, |
|
|
5,600 |
|
|
6,621,384 |
|
California Health Facilities Financing |
|
|
|
|
|
|
|
Catholic Healthcare West, |
|
|
1,055 |
|
|
1,232,135 |
|
State Joseph Health System, |
|
|
5,000 |
|
|
5,696,850 |
|
California HFA, RB, Home Mortgage, |
|
|
2,515 |
|
|
2,606,144 |
|
California State Public Works Board, RB, |
|
|
|
|
|
|
|
5.50%, 12/01/13 (a) |
|
|
6,000 |
|
|
6,465,000 |
|
5.13%, 6/01/29 |
|
|
10,435 |
|
|
10,763,911 |
|
California Statewide Communities |
|
|
|
|
|
|
|
Health Facility, Memorial |
|
|
4,240 |
|
|
4,443,902 |
|
Kaiser Permanente, Series A, |
|
|
4,170 |
|
|
4,506,060 |
|
Golden State Tobacco Securitization |
|
|
10,725 |
|
|
11,528,195 |
|
Los Angeles Department of Airports, RB, |
|
|
1,200 |
|
|
1,335,684 |
|
Poway Unified School District, GO, CAB, |
|
|
15,000 |
|
|
2,549,250 |
|
State of California, GO, Various Purpose, |
|
|
9,700 |
|
|
11,796,364 |
|
|
|
|
|
|
|
76,655,820 |
|
Colorado 1.0% |
|
|
|
|
|
|
|
Colorado Health Facilities Authority, RB, |
|
|
2,500 |
|
|
2,935,425 |
|
Colorado Health Facilities Authority, |
|
|
3,000 |
|
|
3,052,920 |
|
Colorado Housing & Finance Authority, |
|
|
|
|
|
|
|
6.60%, 5/01/28 |
|
|
205 |
|
|
210,353 |
|
7.50%, 4/01/31 |
|
|
120 |
|
|
120,346 |
|
Regional Transportation District, COP, |
|
|
385 |
|
|
432,705 |
|
|
|
|
|
|
|
6,751,749 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
1 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Connecticut 0.3% |
|
|
|
|
|
|
|
Mohegan Tribe of Indians of |
|
$ |
1,885 |
|
$ |
1,752,051 |
|
Delaware 0.3% |
|
|
|
|
|
|
|
County of Sussex Delaware, RB, NRG |
|
|
1,500 |
|
|
1,665,000 |
|
District of Columbia 0.2% |
|
|
|
|
|
|
|
Metropolitan Washington Airports |
|
|
|
|
|
|
|
5.00%, 10/01/39 |
|
|
415 |
|
|
449,354 |
|
5.25%, 10/01/44 |
|
|
650 |
|
|
709,793 |
|
|
|
|
|
|
|
1,159,147 |
|
Florida 5.0% |
|
|
|
|
|
|
|
County of Miami-Dade Florida, GO, |
|
|
|
|
|
|
|
Series B, 6.38%, 7/01/28 |
|
|
4,630 |
|
|
5,549,796 |
|
Series B-1, 5.63%, 7/01/38 |
|
|
5,000 |
|
|
5,609,500 |
|
County of Miami-Dade Florida, |
|
|
|
|
|
|
|
(AGC) AMT, 5.00%, 10/01/40 |
|
|
10,000 |
|
|
10,329,900 |
|
Series A-1, 5.38%, 10/01/41 |
|
|
10,290 |
|
|
11,484,463 |
|
|
|
|
|
|
|
32,973,659 |
|
Georgia 2.1% |
|
|
|
|
|
|
|
City of Atlanta Georgia, Refunding RB, |
|
|
1,070 |
|
|
1,158,371 |
|
DeKalb County Hospital Authority |
|
|
3,570 |
|
|
3,947,706 |
|
DeKalb Private Hospital Authority, |
|
|
3,335 |
|
|
3,632,782 |
|
Municipal Electric Authority of Georgia, |
|
|
|
|
|
|
|
6.60%, 1/01/18 |
|
|
4,530 |
|
|
5,092,264 |
|
6.60%, 1/01/18 (d) |
|
|
250 |
|
|
266,130 |
|
|
|
|
|
|
|
14,097,253 |
|
Hawaii 0.9% |
|
|
|
|
|
|
|
Hawaii State Harbor, RB, Series A, |
|
|
5,000 |
|
|
5,605,150 |
|
Illinois 12.0% |
|
|
|
|
|
|
|
Chicago Board of Education Illinois, GO, |
|
|
6,670 |
|
|
7,624,343 |
|
Chicago Transit Authority, RB, Sales Tax |
|
|
2,110 |
|
|
2,375,375 |
|
City of Chicago Illinois, RB, General, |
|
|
17,080 |
|
|
18,164,067 |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Illinois (concluded) |
|
|
|
|
|
|
|
Illinois Finance Authority, RB: |
|
|
|
|
|
|
|
Advocate Health Care |
|
$ |
9,700 |
|
$ |
11,304,574 |
|
Community, 6.50%, 7/01/22 |
|
|
1,060 |
|
|
966,296 |
|
Community Rehabilitation, |
|
|
1,080 |
|
|
1,096,492 |
|
Northwestern Memorial |
|
|
9,000 |
|
|
10,440,180 |
|
Illinois Finance Authority, Refunding RB, |
|
|
5,060 |
|
|
5,725,238 |
|
Railsplitter Tobacco Settlement |
|
|
2,645 |
|
|
3,035,085 |
|
Regional Transportation Authority, RB: |
|
|
|
|
|
|
|
Series A (AMBAC), 7.20%, |
|
|
3,040 |
|
|
3,686,578 |
|
Series C (NPFGC), 7.75%, |
|
|
4,000 |
|
|
5,006,720 |
|
Village of Hodgkins Illinois, RB, MBM |
|
|
10,000 |
|
|
10,011,500 |
|
|
|
|
|
|
|
79,436,448 |
|
Indiana 2.5% |
|
|
|
|
|
|
|
Indiana Health & Educational Facilities |
|
|
8,980 |
|
|
9,365,601 |
|
Indianapolis Local Public Improvement |
|
|
7,120 |
|
|
7,511,031 |
|
|
|
|
|
|
|
16,876,632 |
|
Iowa 0.1% |
|
|
|
|
|
|
|
Iowa Tobacco Settlement Authority, RB, |
|
|
1,000 |
|
|
808,420 |
|
Kansas 0.2% |
|
|
|
|
|
|
|
Sedgwick & Shawnee Counties Kansas, |
|
|
1,370 |
|
|
1,418,950 |
|
Kentucky 1.2% |
|
|
|
|
|
|
|
County of Owen Kentucky, RB, Kentucky |
|
|
1,000 |
|
|
1,063,770 |
|
Kentucky Economic Development |
|
|
|
|
|
|
|
6.38%, 6/01/40 |
|
|
2,000 |
|
|
2,307,680 |
|
6.50%, 3/01/45 |
|
|
4,000 |
|
|
4,640,280 |
|
|
|
|
|
|
|
8,011,730 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
2 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Louisiana 0.8% |
|
|
|
|
|
|
|
Louisiana Local Government |
|
$ |
2,615 |
|
$ |
2,976,968 |
|
Parish of St. Charles Louisiana Gulf |
|
|
2,210 |
|
|
2,261,228 |
|
|
|
|
|
|
|
5,238,196 |
|
Maine 1.0% |
|
|
|
|
|
|
|
Maine Health & Higher Educational |
|
|
5,000 |
|
|
5,343,750 |
|
Portland New Public Housing Authority |
|
|
1,190 |
|
|
1,218,917 |
|
|
|
|
|
|
|
6,562,667 |
|
Maryland 1.8% |
|
|
|
|
|
|
|
Maryland Community Development |
|
|
1,835 |
|
|
1,899,739 |
|
Maryland Community Development |
|
|
3,250 |
|
|
3,317,372 |
|
Maryland Health & Higher Educational |
|
|
|
|
|
|
|
Charlestown Community, |
|
|
2,000 |
|
|
2,243,800 |
|
University of Maryland Medical |
|
|
2,100 |
|
|
2,243,052 |
|
University of Maryland Medical |
|
|
2,100 |
|
|
2,259,159 |
|
|
|
|
|
|
|
11,963,122 |
|
Massachusetts 5.8% |
|
|
|
|
|
|
|
Massachusetts Bay Transportation |
|
|
3,010 |
|
|
3,635,117 |
|
Massachusetts Development Finance |
|
|
2,800 |
|
|
3,213,168 |
|
Massachusetts HFA, RB: |
|
|
|
|
|
|
|
S/F, Series 130, AMT, 5.00%, |
|
|
2,500 |
|
|
2,579,175 |
|
Series A, AMT, 5.20%, |
|
|
2,865 |
|
|
2,966,879 |
|
Massachusetts HFA, Refunding RB, |
|
|
6,550 |
|
|
7,000,902 |
|
Massachusetts Water Resources |
|
|
16,000 |
|
|
19,401,920 |
|
|
|
|
|
|
|
38,797,161 |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Michigan 3.9% |
|
|
|
|
|
|
|
City of Detroit Michigan, RB, Second |
|
|
|
|
|
|
|
6.25%, 7/01/36 |
|
$ |
2,500 |
|
$ |
2,888,900 |
|
7.00%, 7/01/36 |
|
|
1,250 |
|
|
1,504,925 |
|
Michigan State Hospital Finance |
|
|
|
|
|
|
|
Henry Ford Health System, |
|
|
7,950 |
|
|
8,265,536 |
|
McLaren Health Care, 5.75%, |
|
|
7,285 |
|
|
8,056,044 |
|
Royal Oak Hospital Finance Authority |
|
|
4,100 |
|
|
5,240,087 |
|
|
|
|
|
|
|
25,955,492 |
|
Minnesota 0.5% |
|
|
|
|
|
|
|
Tobacco Securitization Authority |
|
|
3,000 |
|
|
3,341,130 |
|
Mississippi 4.9% |
|
|
|
|
|
|
|
County of Lowndes Mississippi, |
|
|
|
|
|
|
|
Series A, 6.80%, 4/01/22 |
|
|
9,160 |
|
|
10,430,767 |
|
Series B, 6.70%, 4/01/22 |
|
|
4,500 |
|
|
5,073,615 |
|
Mississippi Business Finance Corp., |
|
|
|
|
|
|
|
5.88%, 4/01/22 |
|
|
15,000 |
|
|
15,039,900 |
|
5.90%, 5/01/22 |
|
|
2,250 |
|
|
2,256,007 |
|
|
|
|
|
|
|
32,800,289 |
|
Nebraska 1.6% |
|
|
|
|
|
|
|
Central Plains Energy Project Nebraska, |
|
|
6,200 |
|
|
6,334,354 |
|
Omaha Nebraska Public Power District, |
|
|
4,000 |
|
|
4,554,000 |
|
|
|
|
|
|
|
10,888,354 |
|
Nevada 0.9% |
|
|
|
|
|
|
|
County of Clark Nevada, RB, Series B, |
|
|
5,000 |
|
|
5,661,600 |
|
New Hampshire 0.4% |
|
|
|
|
|
|
|
New Hampshire Health & Education |
|
|
2,300 |
|
|
2,465,991 |
|
New Jersey 6.1% |
|
|
|
|
|
|
|
New Jersey EDA, RB, Cigarette Tax (a): |
|
|
|
|
|
|
|
5.50%, 6/15/12 |
|
|
7,080 |
|
|
7,094,585 |
|
5.75%, 6/15/14 |
|
|
3,695 |
|
|
4,092,323 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
3 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
New Jersey (concluded) |
|
|
|
|
|
|
|
New Jersey EDA, Refunding RB: |
|
|
|
|
|
|
|
Cigarette Tax, Series 2012, |
|
$ |
990 |
|
$ |
1,095,079 |
|
School Facilities Construction, |
|
|
10,000 |
|
|
11,155,900 |
|
New Jersey State Housing & Mortgage |
|
|
1,300 |
|
|
1,424,865 |
|
New Jersey Transportation Trust Fund |
|
|
8,000 |
|
|
9,345,280 |
|
Tobacco Settlement Financing Corp. |
|
|
5,980 |
|
|
6,381,617 |
|
|
|
|
|
|
|
40,589,649 |
|
New York 4.0% |
|
|
|
|
|
|
|
Metropolitan Transportation Authority, |
|
|
|
|
|
|
|
6.25%, 11/15/23 |
|
|
3,245 |
|
|
4,131,534 |
|
6.50%, 11/15/28 |
|
|
14,925 |
|
|
19,119,074 |
|
Port Authority of New York & New |
|
|
3,165 |
|
|
3,548,313 |
|
|
|
|
|
|
|
26,798,921 |
|
North Carolina 0.6% |
|
|
|
|
|
|
|
Gaston County Industrial Facilities & |
|
|
4,105 |
|
|
3,605,339 |
|
Ohio 0.5% |
|
|
|
|
|
|
|
Buckeye Tobacco Settlement Financing |
|
|
1,125 |
|
|
939,330 |
|
County of Lucas Ohio, Refunding RB, |
|
|
1,915 |
|
|
2,354,971 |
|
|
|
|
|
|
|
3,294,301 |
|
Oregon 0.7% |
|
|
|
|
|
|
|
City of Tigard Washington County |
|
|
|
|
|
|
|
5.00%, 8/01/37 |
|
|
2,000 |
|
|
2,265,680 |
|
5.00%, 8/01/42 |
|
|
2,335 |
|
|
2,636,612 |
|
|
|
|
|
|
|
4,902,292 |
|
Pennsylvania 0.9% |
|
|
|
|
|
|
|
Chester County IDA, RB, Aqua |
|
|
540 |
|
|
563,684 |
|
Delaware River Port Authority |
|
|
195 |
|
|
211,220 |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Pennsylvania (concluded) |
|
|
|
|
|
|
|
Pennsylvania Economic Development |
|
$ |
2,780 |
|
$ |
3,020,387 |
|
Philadelphia Authority for Industrial |
|
|
|
|
|
|
|
Arbor House, Inc. Project, |
|
|
1,000 |
|
|
1,017,880 |
|
Rieder House Project, Series A, |
|
|
1,355 |
|
|
1,379,228 |
|
|
|
|
|
|
|
6,192,399 |
|
Puerto Rico 2.7% |
|
|
|
|
|
|
|
Puerto Rico Electric Power Authority, |
|
|
925 |
|
|
934,453 |
|
Puerto Rico Sales Tax Financing Corp., |
|
|
13,000 |
|
|
15,206,490 |
|
Puerto Rico Sales Tax Financing Corp., |
|
|
10,000 |
|
|
1,979,600 |
|
|
|
|
|
|
|
18,120,543 |
|
South Carolina 0.9% |
|
|
|
|
|
|
|
County of Georgetown South Carolina, |
|
|
1,000 |
|
|
1,026,000 |
|
County of Richland South Carolina, |
|
|
5,000 |
|
|
5,212,900 |
|
|
|
|
|
|
|
6,238,900 |
|
Texas 13.0% |
|
|
|
|
|
|
|
Brazos River Authority, Refunding RB, |
|
|
3,055 |
|
|
434,604 |
|
Brazos River Harbor Navigation District, |
|
|
11,460 |
|
|
11,596,260 |
|
Central Texas Regional Mobility |
|
|
|
|
|
|
|
5.75%, 1/01/31 |
|
|
1,000 |
|
|
1,117,570 |
|
6.00%, 1/01/41 |
|
|
4,300 |
|
|
4,816,602 |
|
City of Houston Texas, RB, Senior Lien, |
|
|
8,335 |
|
|
9,337,951 |
|
Gulf Coast Waste Disposal Authority, |
|
|
4,000 |
|
|
4,025,880 |
|
Harris County Health Facilities |
|
|
|
|
|
|
|
7.13%, 12/01/31 |
|
|
3,500 |
|
|
4,218,375 |
|
7.25%, 12/01/35 |
|
|
5,400 |
|
|
6,484,752 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
4 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Texas (concluded) |
|
|
|
|
|
|
|
Houston Industrial Development Corp., |
|
$ |
1,690 |
|
$ |
1,690,270 |
|
La Vernia Higher Education Finance |
|
|
925 |
|
|
1,042,392 |
|
Love Field Airport Modernization Corp., |
|
|
3,600 |
|
|
3,753,972 |
|
Matagorda County Navigation District |
|
|
9,355 |
|
|
9,862,041 |
|
North Texas Education Finance |
|
|
1,000 |
|
|
1,036,830 |
|
North Texas Tollway Authority, |
|
|
3,500 |
|
|
3,988,635 |
|
Tarrant County Cultural Education |
|
|
5,000 |
|
|
5,811,000 |
|
Texas Private Activity Bond Surface |
|
|
|
|
|
|
|
LBJ Infrastructure Group LLC, |
|
|
10,000 |
|
|
11,894,400 |
|
NTE Mobility Partners LLC, |
|
|
4,710 |
|
|
5,517,435 |
|
|
|
|
|
|
|
86,628,969 |
|
Vermont 0.1% |
|
|
|
|
|
|
|
Vermont Educational & Health Buildings |
|
|
420 |
|
|
425,246 |
|
Virginia 2.9% |
|
|
|
|
|
|
|
City of Norfolk Virginia, Refunding RB, |
|
|
3,550 |
|
|
3,553,124 |
|
City of Portsmouth Virginia, GO, |
|
|
3,105 |
|
|
3,530,416 |
|
Fairfax County EDA, Refunding RB, |
|
|
|
|
|
|
|
5.13%, 10/01/37 |
|
|
2,000 |
|
|
2,039,560 |
|
5.13%, 10/01/42 |
|
|
6,015 |
|
|
6,114,127 |
|
Virginia HDA, Refunding RB, |
|
|
1,325 |
|
|
1,404,328 |
|
Virginia Small Business Financing |
|
|
2,620 |
|
|
2,877,677 |
|
|
|
|
|
|
|
19,519,232 |
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
Washington 4.3% |
|
|
|
|
|
|
|
Energy Northwest, Refunding RB, |
|
$ |
14,320 |
|
$ |
17,921,909 |
|
Seattle Housing Authority Washington, |
|
|
2,175 |
|
|
2,179,807 |
|
Washington Health Care Facilities |
|
|
7,000 |
|
|
8,310,960 |
|
|
|
|
|
|
|
28,412,676 |
|
West Virginia 0.4% |
|
|
|
|
|
|
|
West Virginia Hospital Finance Authority, |
|
|
2,500 |
|
|
2,705,900 |
|
Wisconsin 1.4% |
|
|
|
|
|
|
|
City of Milwaukee Wisconsin, RB, |
|
|
1,475 |
|
|
1,475,295 |
|
Wisconsin Health & Educational |
|
|
|
|
|
|
|
Hudson Memorial Hospital (FHA), |
|
|
4,500 |
|
|
4,521,105 |
|
SynergyHealth, Inc., 6.00%, |
|
|
3,040 |
|
|
3,123,509 |
|
|
|
|
|
|
|
9,119,909 |
|
Wyoming 0.8% |
|
|
|
|
|
|
|
County of Sweetwater Wyoming, |
|
|
4,500 |
|
|
5,095,080 |
|
Total Municipal Bonds 105.3% |
|
|
|
|
|
699,670,446 |
|
|
|
|
|
|
|
|
|
|
|||||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
|
|
|
|
|
|
|
Arizona 0.6% |
|
|
|
|
|
|
|
Phoenix Arizona Civic Improvement |
|
|
3,500 |
|
|
4,054,995 |
|
California 5.1% |
|
|
|
|
|
|
|
Los Angeles Community College District |
|
|
9,586 |
|
|
11,447,837 |
|
University of California, RB, Series O, |
|
|
20,000 |
|
|
22,525,000 |
|
|
|
|
|
|
|
33,972,837 |
|
Connecticut 2.1% |
|
|
|
|
|
|
|
Connecticut State Health & Educational |
|
|
12,000 |
|
|
13,704,360 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
5 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
|
Par |
|
Value |
|
||
District of Columbia 1.3% |
|
|
|
|
|
|
|
District of Columbia Water & Sewer |
|
$ |
7,495 |
|
$ |
8,499,120 |
|
Florida 3.9% |
|
|
|
|
|
|
|
County of Miami-Dade Florida, RB, |
|
|
14,747 |
|
|
16,198,775 |
|
Miami-Dade County Expressway |
|
|
8,900 |
|
|
9,734,197 |
|
|
|
|
|
|
|
25,932,972 |
|
Illinois 4.0% |
|
|
|
|
|
|
|
City of Chicago Illinois, RB, Sales Tax |
|
|
4,640 |
|
|
5,118,894 |
|
City of Chicago Illinois, Refunding RB, |
|
|
1,330 |
|
|
1,475,980 |
|
Illinois Finance Authority, RB, University |
|
|
10,000 |
|
|
12,306,800 |
|
Illinois State Toll Highway Authority, RB, |
|
|
6,999 |
|
|
7,680,726 |
|
|
|
|
|
|
|
26,582,400 |
|
Kentucky 5.1% |
|
|
|
|
|
|
|
Kentucky Economic Development |
|
|
8,003 |
|
|
8,869,080 |
|
Kentucky Housing Corp., Refunding RB, |
|
|
6,460 |
|
|
6,699,020 |
|
Lexington-Fayette Urban County Airport |
|
|
7,001 |
|
|
7,874,461 |
|
Louisville & Jefferson County |
|
|
9,195 |
|
|
10,633,098 |
|
|
|
|
|
|
|
34,075,659 |
|
Maryland 0.8% |
|
|
|
|
|
|
|
Maryland State Transportation Authority, |
|
|
4,710 |
|
|
5,169,696 |
|
Nevada 2.9% |
|
|
|
|
|
|
|
Clark County Water Reclamation |
|
|
15,789 |
|
|
19,341,904 |
|
New York 7.9% |
|
|
|
|
|
|
|
New York City Municipal Water Finance |
|
|
24,199 |
|
|
26,309,895 |
|
New York City Municipal Water Finance |
|
|
4,154 |
|
|
4,785,740 |
|
New York City Transitional Finance |
|
|
8,898 |
|
|
10,031,085 |
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
|
Par |
|
Value |
|
||
New York (concluded) |
|
|
|
|
|
|
|
New York State Liberty
Development |
|
$ |
10,000 |
|
$ |
11,502,300 |
|
|
|
|
|
|
|
52,629,020 |
|
North Carolina 2.9% |
|
|
|
|
|
|
|
North Carolina Capital Facilities Finance |
|
|
|
|
|
|
|
Duke University Project, |
|
|
12,678 |
|
|
13,857,814 |
|
Wake Forest University, |
|
|
5,000 |
|
|
5,505,350 |
|
|
|
|
|
|
|
19,363,164 |
|
Ohio 3.6% |
|
|
|
|
|
|
|
County of Allen Ohio, Refunding RB, |
|
|
2,870 |
|
|
3,127,898 |
|
County of Montgomery Ohio, Refunding |
|
|
5,470 |
|
|
6,151,015 |
|
Ohio Higher Educational Facility |
|
|
4,400 |
|
|
4,822,356 |
|
State of Ohio, RB, Cleveland Clinic |
|
|
8,500 |
|
|
9,550,090 |
|
|
|
|
|
|
|
23,651,359 |
|
Oregon 2.0% |
|
|
|
|
|
|
|
Oregon State Housing & Community |
|
|
13,000 |
|
|
13,635,682 |
|
South Carolina 0.5% |
|
|
|
|
|
|
|
South Carolina State Housing Finance & |
|
|
3,069 |
|
|
3,271,524 |
|
Texas 7.8% |
|
|
|
|
|
|
|
Harris County Health Facilities |
|
|
20,970 |
|
|
27,618,748 |
|
Houston Higher Education Finance |
|
|
10,000 |
|
|
11,421,174 |
|
Texas Department of Housing & |
|
|
6,276 |
|
|
6,559,662 |
|
Texas State University Systems, |
|
|
5,667 |
|
|
6,336,994 |
|
|
|
|
|
|
|
51,936,578 |
|
Virginia 2.6% |
|
|
|
|
|
|
|
Fairfax County IDA Virginia, Refunding |
|
|
2,099 |
|
|
2,365,442 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
6 |
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniVest Fund, Inc. (MVF) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
|
Par |
|
Value |
|
||
Virginia (concluded) |
|
|
|
|
|
|
|
Virginia Small Business Financing |
|
$ |
5,002 |
|
$ |
5,429,856 |
|
Virginia State Commonwealth |
|
|
8,001 |
|
|
9,283,892 |
|
|
|
|
|
|
|
17,079,190 |
|
Washington 4.2% |
|
|
|
|
|
|
|
Central Puget Sound Regional Transit |
|
|
|
|
|
|
|
5.00%, 11/01/34 |
|
|
5,000 |
|
|
5,563,525 |
|
5.00%, 11/01/36 |
|
|
6,000 |
|
|
6,676,230 |
|
(AGM), 5.00%, 11/01/32 |
|
|
14,007 |
|
|
15,822,595 |
|
|
|
|
|
|
|
28,062,350 |
|
Wisconsin 1.0% |
|
|
|
|
|
|
|
Wisconsin Health & Educational |
|
|
6,099 |
|
|
6,672,232 |
|
Total
Municipal Bonds Transferred to Tender Option |
|
|
|
|
|
387,635,042 |
|
Total
Long-Term Investments |
|
|
|
|
|
1,087,305,488 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
Shares |
|
|
|
|
|
FFI Institutional Tax-Exempt Fund, |
|
|
142,624 |
|
|
142,624 |
|
Total
Short-Term Securities |
|
|
|
|
|
142,624 |
|
Total Investments (Cost - $984,812,108*) 163.6% |
|
|
|
|
|
1,087,448,112 |
|
Other Assets Less Liabilities 2.0% |
|
|
|
|
|
13,412,822 |
|
Liability
for TOB Trust Certificates, Including Interest |
|
|
|
|
|
(192,302,440 |
) |
VMTP Shares, at Liquidation Value (36.7)% |
|
|
|
|
|
(243,800,000 |
) |
Net Assets Applicable to Common Shares 100.0% |
|
|
|
|
$ |
664,758,494 |
|
|
|
|
|
* |
As of May 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows: |
|
|
|
|
|
|
|
|
Tax cost |
|
|
|
|
$ |
794,889,145 |
|
Gross unrealized appreciation |
|
|
|
|
$ |
107,279,303 |
|
Gross unrealized depreciation |
|
|
|
|
|
(6,930,508 |
) |
Net unrealized appreciation |
|
|
|
|
$ |
100,348,795 |
|
|
|
(a) |
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. |
|
|
(b) |
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
|
|
(c) |
Represents a zero-coupon bond. Rate shown reflects the current yield as of report date. |
|
|
(d) |
Security is collateralized by Municipal or US Treasury obligations. |
|
|
(e) |
Variable rate security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through demand. |
|
|
(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 |
|
Net |
|
Shares |
|
Income |
|
||||
FFI Institutional |
|
|
44,571,921 |
|
|
(44,429,297 |
) |
|
142,624 |
|
$ |
715 |
|
|
|
(i) |
Represents the current yield as of report date. |
|
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:
|
|
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 |
COP |
Certificates of Participation |
EDA |
Economic Development Authority |
ERB |
Education Revenue Bonds |
FHA |
Federal Housing Administration |
Ginnie Mae |
Government National Mortgage Association |
GO |
General Obligation Bonds |
HDA |
Housing Development Authority |
HFA |
Housing Finance Agency |
HRB |
Housing Revenue Bonds |
IDA |
Industrial Development Authority |
IDB |
Industrial Development Board |
MRB |
Mortgage Revenue Bonds |
NPFGC |
National Public Finance Guarantee Corp. |
RB |
Revenue Bonds |
S/F |
Single-Family |
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
7 |
|
|
|
|
Schedule of Investments (concluded) |
BlackRock MuniVest Fund, Inc. (MVF) |
|
|
|
|
Financial futures contracts sold as of May 31, 2012 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Issue |
|
Exchange |
|
Expiration |
|
Notional |
|
Unrealized |
|
|||||
233 |
|
|
10-Year |
|
|
Chicago |
|
|
September |
|
$ |
31,207,438 |
|
$ |
(273,490 |
) |
|
|
|
|
Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows: |
|
|
|
|
|
|
Level 1 unadjusted 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 Funds own assumptions used in determining the fair value of investments and derivative financial instruments) |
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Funds policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Funds policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Funds most recent financial statements as contained in its semi-annual report.
The following tables summarize the inputs used as of May 31, 2012 in determining the fair valuation of the Funds investments and derivative financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Long Term |
|
|
|
|
$ |
1,087,305,488 |
|
|
|
|
$ |
1,087,305,488 |
|
Short-Term |
|
$ |
142,624 |
|
|
|
|
|
|
|
|
142,624 |
|
Total |
|
$ |
142,624 |
|
$ |
1,087,305,488 |
|
|
|
|
$ |
1,087,448,112 |
|
|
|
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 |
|
$ |
(273,490 |
) |
|
|
|
|
|
|
$ |
(273,490 |
) |
|
|
2 |
Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
Certain of the Funds assets and liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of May 31, 2012, such assets and liabilities are categorized within the disclosure hierarchy as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash pledged |
|
$ |
513,000 |
|
|
|
|
|
|
|
$ |
513,000 |
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Overdraft |
|
|
(2 |
) |
|
|
|
|
|
|
|
(2 |
) |
TOB trust |
|
|
|
|
$ |
(192,210,172 |
) |
|
|
|
|
(192,210,172 |
) |
VMTP Shares |
|
|
|
|
|
(243,800,000 |
) |
|
|
|
|
(243,800,000 |
) |
Total |
|
$ |
512,998 |
|
$ |
(436,010,172 |
) |
|
|
|
$ |
(435,497,174 |
) |
There were no transfers between levels during the period ended May 31, 2012.
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|
BLACKROCK MUNIVEST FUND, INC. |
MAY 31, 2012 |
8 |
Item 2 – |
Controls and Procedures |
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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. |
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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. |
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Item 3 – |
Exhibits |
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Certifications – Attached hereto |
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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. |
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BlackRock MuniVest Fund, Inc. |
||
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||
By: | /s/ John M. Perlowski | ||
John M. Perlowski | |||
Chief Executive Officer (principal executive officer) of | |||
BlackRock MuniVest Fund, Inc. | |||
Date: July 25, 2012 | |||
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, Inc. | |||
Date: July 25, 2012 | |||
By: | /s/ Neal J. Andrews | ||
Neal J. Andrews | |||
Chief Financial Officer (principal financial officer) of | |||
BlackRock MuniVest Fund, Inc. | |||
Date: July 25, 2012 |