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: Anne F. Ackerley, 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: 08/31/2010

 

Date of reporting period: 05/31/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments May 31, 2010 (Unaudited)

BlackRock MuniVest Fund, Inc. (MVF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Alabama — 2.6%

 

 

 

 

 

 

 

Camden IDB Alabama, RB,
Weyerhaeuser Co. Project, Series A,
6.13%, 12/01/13 (a)

 

$

2,550

 

$

2,976,360

 

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

 

 

6,500

 

 

5,562,310

 

Selma IDB Alabama, RB, Gulf
Opportunity Zone, International
Paper, 5.80%, 5/01/34

 

 

1,850

 

 

1,870,350

 

Selma IDB Alabama, Refunding RB,
International Paper Co. Project,
Series B, 5.50%, 5/01/20

 

 

5,000

 

 

5,071,900

 

 

 

 

 

 

 

 

 

 

 

 

 

15,480,920

 

 

Arizona — 2.1%

 

 

 

 

 

 

 

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

 

 

4,100

 

 

2,830,107

 

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

 

 

3,400

 

 

3,415,946

 

Pima County IDA, RB, Arizona Charter
Schools Project, Series E, 7.25%,
7/01/31

 

 

2,025

 

 

2,033,525

 

Pima County IDA, Refunding RB:

 

 

 

 

 

 

 

Arizona Charter Schools Project,
Series I, 6.10%, 7/01/24 (b)

 

 

490

 

 

460,869

 

Arizona Charter Schools Project,
Series I, 6.30%, 7/01/31 (b)

 

 

985

 

 

902,014

 

Arizona Charter Schools Project,
Series O, 5.00%, 7/01/26

 

 

1,545

 

 

1,260,983

 

Charter Schools II, Series A, 6.75%,
7/01/21

 

 

925

 

 

926,702

 

State of Arizona, COP, Department of
Administration, Series A (AGM),
5.25%, 10/01/28

 

 

750

 

 

794,820

 

 

 

 

 

 

 

 

 

 

 

 

 

12,624,966

 

 

California — 10.4%

 

 

 

 

 

 

 

California HFA, RB, Home Mortgage,
Series K, AMT, 5.50%, 2/01/42

 

 

4,115

 

 

4,192,568

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

California (concluded)

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB, Series A:

 

 

 

 

 

 

 

Catholic Healthcare West, 6.00%,
7/01/34

 

$

1,055

 

$

1,138,461

 

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

 

 

5,000

 

 

5,215,350

 

California State Public Works Board, RB:

 

 

 

 

 

 

 

Department of Corrections,
Series C, 5.50%, 6/01/22

 

 

5,000

 

 

5,127,950

 

Department of Corrections,
Series C, 5.50%, 6/01/23

 

 

6,000

 

 

6,135,660

 

Department of Mental Health,
Coalinga, Series A, 5.13%, 6/01/29

 

 

10,460

 

 

10,132,811

 

California Statewide Communities
Development Authority, RB, Health
Facility, Memorial Health Services,
Series A, 6.00%, 10/01/23

 

 

5,240

 

 

5,470,560

 

Golden State Tobacco Securitization
Corp. California, RB, ARS, Asset-
Backed, Series A-3, 7.88%,
6/01/13 (a)

 

 

10,725

 

 

12,768,970

 

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

 

 

1,200

 

 

1,252,272

 

State of California, GO, Various Purpose,
6.50%, 4/01/33

 

 

9,700

 

 

10,959,545

 

 

 

 

 

 

 

 

 

 

 

 

 

62,394,147

 

 

Colorado — 3.1%

 

 

 

 

 

 

 

City of Aurora Colorado, RB, Children’s
Hospital Association, 5.00%,
12/01/40

 

 

4,000

 

 

3,975,200

 

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

 

 

2,500

 

 

2,768,300

 

Colorado Health Facilities Authority,
Refunding RB, Series A:

 

 

 

 

 

 

 

Evangelical Lutheran, 5.25%,
6/01/34

 

 

3,000

 

 

2,850,900

 

Sisters of Leavenworth, 5.00%,
1/01/40

 

 

8,705

 

 

8,711,181

 

 

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)

ARB

Airport Revenue Bonds

ARS

Auction Rate Securities

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

EDA

Economic Development Authority

FHA

Federal Housing Administration

GNMA

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, 2010

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets)


 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Colorado (concluded)

 

 

 

 

 

 

 

Colorado Housing & Finance Authority,
Refunding RB, S/F Program, Senior
Series A-2, AMT:

 

 

 

 

 

 

 

6.60%, 5/01/28

 

$

375

 

$

386,805

 

7.50%, 4/01/31

 

 

140

 

 

148,862

 

 

 

 

 

 

 

 

 

 

 

 

 

18,841,248

 

 

Connecticut — 0.4%

 

 

 

 

 

 

 

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

 

 

2,810

 

 

2,266,855

 

 

District of Columbia — 0.2%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB, First Senior Lien,
Series A:

 

 

 

 

 

 

 

5.00%, 10/01/39

 

 

415

 

 

430,658

 

5.25%, 10/01/44

 

 

650

 

 

684,372

 

 

 

 

 

 

 

 

 

 

 

 

 

1,115,030

 

 

Florida — 6.7%

 

 

 

 

 

 

 

County of Miami-Dade Florida, GO,
Building Better Communities Program:

 

 

 

 

 

 

 

Series B, 6.38%, 7/01/28

 

 

4,630

 

 

5,326,584

 

Series B-1, 5.63%, 7/01/38

 

 

5,000

 

 

5,335,800

 

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

 

 

 

 

 

 

 

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

 

 

10,000

 

 

9,563,500

 

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

 

 

10,290

 

 

10,481,394

 

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

 

 

6,500

 

 

6,193,070

 

Miami-Dade County IDA, RB, Waste
Management Inc. Project, Series 1,
Mandatory Put Bonds, AMT, 7.00%,
12/01/18

 

 

3,200

 

 

3,251,552

 

 

 

 

 

 

 

 

 

 

 

 

 

40,151,900

 

 

Georgia — 3.0%

 

 

 

 

 

 

 

De Kalb County Hospital Authority
Georgia, RB, DeKalb Medical Center
Inc. Project, 6.13%, 9/01/40

 

 

3,570

 

 

3,584,423

 

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

 

 

3,335

 

 

3,453,126

 

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

 

 

1,100

 

 

712,635

 

Monroe County Development Authority
Georgia, Refunding RB, Oglethorpe
Power Corp.-Scherer, Series A, 6.80%,
1/01/11

 

 

4,785

 

 

4,925,009

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Georgia (concluded)

 

 

 

 

 

 

 

Municipal Electric Authority of Georgia,
RB, Series W:

 

 

 

 

 

 

 

6.60%, 1/01/18

 

$

4,565

 

$

5,340,365

 

6.60%, 1/01/18 (c)

 

 

250

 

 

285,577

 

 

 

 

 

 

 

 

 

 

 

 

 

18,301,135

 

 

Idaho — 0.0%

 

 

 

 

 

 

 

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

 

 

135

 

 

135,244

 

 

Illinois — 10.0%

 

 

 

 

 

 

 

City of Chicago Illinois, ARB, General,
Third Lien, Series B-2, AMT (NPFGC),
6.00%, 1/01/27

 

 

17,080

 

 

17,782,159

 

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

 

 

60

 

 

61,668

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

 

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

 

 

9,700

 

 

10,788,631

 

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

 

 

2,140

 

 

2,155,836

 

Illinois Finance Authority, Refunding RB,

 

 

 

 

 

 

 

Northwestern Memorial Hospital,
Series A, 6.00%, 8/15/39

 

 

9,000

 

 

9,823,860

 

Regional Transportation Authority, RB:

 

 

 

 

 

 

 

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

 

 

3,500

 

 

4,301,570

 

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

 

 

4,000

 

 

5,145,560

 

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

 

 

10,000

 

 

10,006,100

 

 

 

 

 

 

 

 

 

 

 

 

 

60,065,384

 

 

Indiana — 5.7%

 

 

 

 

 

 

 

Indiana Finance Authority, Refunding
RB, Duke Energy Indiana Inc.,
Series C, 4.95%, 10/01/40

 

 

2,380

 

 

2,374,645

 

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

 

 

8,980

 

 

8,729,279

 

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

 

 

8,195

 

 

9,332,220

 

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

 

 

12,875

 

 

14,096,580

 

 

 

 

 

 

 

 

 

 

 

 

 

34,532,724

 

 

Kansas — 0.4%

 

 

 

 

 

 

 

Sedgwick & Shawnee Counties Kansas,
RB, Mortgage-Backed Securities
Program, Series A-4, AMT (GNMA),
5.95%, 12/01/33

 

 

2,145

 

 

2,233,503

 

 

 

 

 

2

BLACKROCK MUNIVEST FUND, INC.

MAY 31, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Kentucky — 1.9%

 

 

 

 

 

 

 

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

 

$

2,000

 

$

2,049,760

 

Kentucky Housing Corp., Refunding RB,
Series L, AMT, 5.25%, 1/01/38

 

 

7,235

 

 

7,429,115

 

Louisville & Jefferson County
Metropolitian Sewer District, RB,
Series A (AGC), 4.25%, 5/15/38

 

 

1,940

 

 

1,887,329

 

 

 

 

 

 

 

 

 

 

 

 

 

11,366,204

 

 

Maine — 1.2%

 

 

 

 

 

 

 

Maine Health & Higher Educational
Facilities Authority, RB, Series A,
5.00%, 7/01/39

 

 

5,000

 

 

5,139,550

 

Portland New Public Housing Authority
Maine, Refunding RB, Senior Living,
Series A:

 

 

 

 

 

 

 

5.70%, 8/01/21

 

 

775

 

 

782,401

 

6.00%, 2/01/34

 

 

1,190

 

 

1,151,932

 

 

 

 

 

 

 

 

 

 

 

 

 

7,073,883

 

 

Maryland — 1.5%

 

 

 

 

 

 

 

Maryland Community Development
Administration, RB, AMT, 5.10%,
9/01/37

 

 

1,835

 

 

1,848,414

 

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

 

 

3,250

 

 

3,152,402

 

Maryland Health & Higher Educational
Facilities Authority, Refunding RB,
University of Maryland Medical
System:

 

 

 

 

 

 

 

5.00%, 7/01/34

 

 

2,100

 

 

2,115,162

 

5.13%, 7/01/39

 

 

2,100

 

 

2,129,610

 

 

 

 

 

 

 

 

 

 

 

 

 

9,245,588

 

 

Massachusetts — 7.2%

 

 

 

 

 

 

 

Boston Water & Sewer Commission, RB,
9.25%, 1/01/11 (c)

 

 

985

 

 

1,033,137

 

Massachusetts Bay Transportation
Authority, Refunding RB, General
Transportation System, Series A,
7.00%, 3/01/19

 

 

3,010

 

 

3,701,818

 

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

 

 

3,000

 

 

3,021,000

 

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

 

 

2,500

 

 

2,499,975

 

Massachusetts HFA, Refunding HRB,
Series D, AMT, 4.85%, 6/01/40

 

 

3,000

 

 

2,847,420

 

Massachusetts School Building
Authority, RB, Series A (AGM), 5.00%,
8/15/37

 

 

10,000

 

 

10,454,800

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Massachusetts (concluded)

 

 

 

 

 

 

 

Massachusetts Water Resources
Authority, RB, Series A, 6.50%,
7/15/19 (c)

 

$

16,000

 

$

19,531,840

 

 

 

 

 

 

 

 

 

 

 

 

 

43,089,990

 

 

Michigan — 5.3%

 

 

 

 

 

 

 

City of Detroit Michigan, RB, Second
Lien, Series B (AGM):

 

 

 

 

 

 

 

6.25%, 7/01/36

 

 

2,500

 

 

2,739,325

 

7.00%, 7/01/36

 

 

1,250

 

 

1,444,625

 

Michigan State Hospital Finance
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

7,950

 

 

7,341,428

 

Hospital, Crittenton, Series A,
5.63%, 3/01/27

 

 

1,900

 

 

1,892,685

 

Hospital, Oakwood Obligation
Group, Series A, 5.00%, 7/15/25

 

 

905

 

 

892,574

 

Hospital, Sinai Hospital, 6.70%,
1/01/26

 

 

1,000

 

 

957,390

 

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

 

 

7,285

 

 

7,481,258

 

Trinity Health, Series A, 6.00%,
12/01/20

 

 

4,200

 

 

4,283,832

 

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

 

 

4,100

 

 

4,893,924

 

 

 

 

 

 

 

 

 

 

 

 

 

31,927,041

 

 

Mississippi — 5.3%

 

 

 

 

 

 

 

County of Lowndes Mississippi,
Refunding RB, Weyerhaeuser Co.
Project:

 

 

 

 

 

 

 

Series A, 6.80%, 4/01/22

 

 

9,160

 

 

9,846,359

 

Series B, 6.70%, 4/01/22

 

 

4,500

 

 

4,799,250

 

Mississippi Business Finance Corp.,
Refunding RB, System Energy
Resource Inc. Project:

 

 

 

 

 

 

 

5.88%, 4/01/22

 

 

15,000

 

 

15,038,100

 

5.90%, 5/01/22

 

 

2,250

 

 

2,255,715

 

 

 

 

 

 

 

 

 

 

 

 

 

31,939,424

 

 

Nevada — 0.9%

 

 

 

 

 

 

 

County of Clark Nevada, RB, Series B,
5.75%, 7/01/42

 

 

5,000

 

 

5,317,950

 

 

New Hampshire — 0.4%

 

 

 

 

 

 

 

New Hampshire Health & Education
Facilities Authority, Refunding RB,
Elliot Hospital, Series B, 5.60%,
10/01/22

 

 

2,525

 

 

2,534,696

 

 

New Jersey — 5.8%

 

 

 

 

 

 

 

New Jersey EDA, RB, Cigarette Tax:

 

 

 

 

 

 

 

5.50%, 6/15/24

 

 

9,080

 

 

9,006,997

 

5.75%, 6/15/29

 

 

2,885

 

 

2,878,278

 

5.75%, 6/15/34

 

 

3,695

 

 

3,642,790

 

 

 

 

BLACKROCK MUNIVEST FUND, INC.

MAY 31, 2010

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

New Jersey (concluded)

 

 

 

 

 

 

 

New Jersey EDA, Refunding RB, School
Facilities Construction, Series AA,
5.25%, 12/15/33

 

$

10,000

 

$

10,728,900

 

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

 

 

1,520

 

 

1,684,510

 

Tobacco Settlement Financing Corp.
New Jersey, RB, 7.00%, 6/01/13 (a)

 

 

5,980

 

 

7,024,526

 

 

 

 

 

 

 

 

 

 

 

 

 

34,966,001

 

 

New York — 3.5%

 

 

 

 

 

 

 

Metropolitan Transportation Authority,
RB, Series 2008-C:

 

 

 

 

 

 

 

6.25%, 11/15/23

 

 

3,245

 

 

3,828,127

 

6.50%, 11/15/28

 

 

14,925

 

 

17,476,279

 

 

 

 

 

 

 

 

 

 

 

 

 

21,304,406

 

 

North Carolina — 0.7%

 

 

 

 

 

 

 

City of Charlotte North Carolina,
Refunding RB, Series A, 5.50%,
7/01/34

 

 

800

 

 

854,904

 

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

 

 

4,105

 

 

3,137,082

 

 

 

 

 

 

 

 

 

 

 

 

 

3,991,986

 

 

Ohio — 3.5%

 

 

 

 

 

 

 

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

 

 

15,970

 

 

12,573,500

 

Ohio Higher Educational Facility
Commission, Refunding RB, Kenyon
College Project, 5.25%, 7/01/44

 

 

8,000

 

 

8,310,880

 

 

 

 

 

 

 

 

 

 

 

 

 

20,884,380

 

 

Pennsylvania — 1.0%

 

 

 

 

 

 

 

Lycoming County Authority, Refunding
RB, Susquehanna Health System
Project, Series A, 5.75%, 7/01/39

 

 

3,950

 

 

4,011,225

 

Philadelphia Authority for Industrial
Development, RB:

 

 

 

 

 

 

 

Arbor House Inc. Project, Series E,
6.10%, 7/01/33

 

 

1,000

 

 

960,510

 

Rieder House Project, Series A,
6.10%, 7/01/33

 

 

1,355

 

 

1,301,491

 

 

 

 

 

 

 

 

 

 

 

 

 

6,273,226

 

 

Puerto Rico — 2.8%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.38%,
8/01/39

 

 

13,000

 

 

14,596,400

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.71%, 8/01/41 (d)

 

 

15,000

 

 

2,358,600

 

 

 

 

 

 

 

 

 

 

 

 

 

16,955,000

 

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

South Carolina — 1.0%

 

 

 

 

 

 

 

County of Georgetown South Carolina,
Refunding RB, International Paper Co.
Project, Series A, AMT, 5.55%,
12/01/29

 

$

1,000

 

$

956,410

 

County of Richland South Carolina,
Refunding RB, International Paper Co.
Project, AMT, 6.10%, 4/01/23

 

 

5,000

 

 

5,061,150

 

 

 

 

 

 

 

 

 

 

 

 

 

6,017,560

 

 

Texas — 12.1%

 

 

 

 

 

 

 

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

 

 

3,055

 

 

1,784,670

 

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

 

 

11,460

 

 

11,659,862

 

City of Houston Texas, RB, Senior Lien,
Series A, 5.50%, 7/01/34

 

 

8,335

 

 

8,982,546

 

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

 

 

10,250

 

 

10,258,815

 

Gulf Coast Waste Disposal Authority,
Refunding RB, Series A, AMT, 6.10%,
8/01/24

 

 

4,000

 

 

4,009,080

 

Harris County Health Facilities
Development Corp., Refunding RB,
Memorial Hermann Healthcare
System, Series B:

 

 

 

 

 

 

 

7.13%, 12/01/31

 

 

3,500

 

 

3,945,655

 

7.25%, 12/01/35

 

 

5,400

 

 

6,101,838

 

Harris County-Houston Sports Authority,
Refunding RB, Senior Lien, Series G
(NPFGC), 5.75%, 11/15/20

 

 

5,130

 

 

5,214,389

 

Houston Industrial Development Corp.,
RB, Senior, Air Cargo, AMT, 6.38%,
1/01/23

 

 

1,790

 

 

1,748,311

 

La Vernia Higher Education Finance
Corp., RB, KIPP Inc., 6.25%, 8/15/39

 

 

925

 

 

956,959

 

Matagorda County Navigation District
No. 1 Texas, Refunding RB,
CenterPoint Energy Project, 5.60%,
3/01/27

 

 

9,355

 

 

9,333,951

 

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

 

 

3,500

 

 

3,856,265

 

Texas Private Activity Bond Surface
Transportation Corp., RB, Senior Lien,
Note Mobility, 6.88%, 12/31/39

 

 

4,710

 

 

4,950,775

 

 

 

 

 

 

 

 

 

 

 

 

 

72,803,116

 

 

U.S. Virgin Islands — 1.4%

 

 

 

 

 

 

 

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

 

 

8,000

 

 

8,118,960

 

 

 

 

 

4

BLACKROCK MUNIVEST FUND, INC.

MAY 31, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Vermont — 0.2%

 

 

 

 

 

 

 

Vermont Educational & Health Buildings
Financing Agency, RB, Developmental
& Mental Health, Series A, 6.38%,
6/15/22

 

$

1,000

 

$

979,830

 

 

Virginia — 4.3%

 

 

 

 

 

 

 

Chesterfield County IDA, Refunding RB,
Virginia Electric & Power Co., Series A,
5.88%, 6/01/17

 

 

1,425

 

 

1,469,132

 

City of Norfolk Virginia, Refunding RB,
Series B (AMBAC), 5.50%, 2/01/31

 

 

4,225

 

 

4,214,311

 

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

 

 

 

 

 

 

 

5.13%, 10/01/37

 

 

2,000

 

 

1,941,180

 

5.13%, 10/01/42

 

 

7,015

 

 

6,814,932

 

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

 

 

15,000

 

 

9,958,050

 

Virginia HDA, Refunding RB,
Sub-Series A3, AMT, 5.05%, 7/01/26

 

 

1,325

 

 

1,355,846

 

 

 

 

 

 

 

 

 

 

 

 

 

25,753,451

 

 

Washington — 4.6%

 

 

 

 

 

 

 

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

 

 

14,320

 

 

18,040,336

 

Seattle Housing Authority Washington,
HRB, Replacement Housing Projects,
6.13%, 12/01/32

 

 

2,265

 

 

2,124,683

 

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

 

 

7,000

 

 

7,719,600

 

 

 

 

 

 

 

 

 

 

 

 

 

27,884,619

 

 

West Virginia — 0.4%

 

 

 

 

 

 

 

West Virginia Hospital Finance
Authority, Refunding RB, Charleston,
Series A, 5.63%, 9/01/32

 

 

2,500

 

 

2,565,975

 

 

Wisconsin — 2.1%

 

 

 

 

 

 

 

City of Milwaukee Wisconsin, RB,
Senior, Air Cargo, AMT, 6.50%,
1/01/25

 

 

1,605

 

 

1,572,354

 

Wisconsin Health & Educational
Facilities Authority, MRB, Hudson
Memorial Hospital (FHA), 5.70%,
1/15/29

 

 

4,500

 

 

4,568,040

 

Wisconsin Health & Educational
Facilities Authority, RB, SynergyHealth
Inc., 6.00%, 11/15/32

 

 

3,040

 

 

3,127,978

 

Wisconsin Housing & EDA, Refunding
RB, Series A, AMT, 5.63%, 3/01/31

 

 

3,390

 

 

3,523,634

 

 

 

 

 

 

 

 

 

 

 

 

 

12,792,006

 

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

Wyoming — 0.8%

 

 

 

 

 

 

 

County of Sweetwater Wyoming,
Refunding RB, Idaho Power Co.
Project, 5.25%, 7/15/26

 

$

4,500

 

$

4,776,750

 

 

Total Municipal Bonds – 112.5%

 

 

 

 

 

676,705,098

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

 

 

 

 

 

 

 

Arizona — 0.6%

 

 

 

 

 

 

 

Phoenix Civic Improvement Corp., RB,
Junior Lien, Series A, 5.00%, 7/01/34

 

 

3,500

 

 

3,674,545

 

 

California — 5.4%

 

 

 

 

 

 

 

Los Angeles Community College District
California, GO, Election of 2008,
Series A, 6.00%, 8/01/33

 

 

9,586

 

 

10,802,526

 

University of California, RB, Series O,
5.25%, 5/15/39

 

 

20,000

 

 

21,477,600

 

 

 

 

 

 

 

 

 

 

 

 

 

32,280,126

 

 

Connecticut — 2.1%

 

 

 

 

 

 

 

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

 

 

12,000

 

 

12,664,680

 

 

District of Columbia — 1.4%

 

 

 

 

 

 

 

District of Columbia Water & Sewer
Authority, RB, Series A, 5.50%,
10/01/39

 

 

7,495

 

 

8,119,470

 

 

Florida — 2.5%

 

 

 

 

 

 

 

County of Miami-Dade Florida, RB,
Water & Sewer System (AGM), 5.00%,
10/01/39

 

 

14,747

 

 

15,276,236

 

 

Illinois — 3.4%

 

 

 

 

 

 

 

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

 

 

1,330

 

 

1,415,133

 

Illinois Finance Authority, RB, University
of Chicago, Series B, 6.25%, 7/01/38

 

 

10,000

 

 

11,564,300

 

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

 

 

6,999

 

 

7,627,525

 

 

 

 

 

 

 

 

 

 

 

 

 

20,606,958

 

 

Kentucky — 4.2%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, Refunding RB, St.
Elizabeth, Series A, 5.50%, 5/01/39

 

 

8,003

 

 

8,352,409

 

Lexington-Fayette Urban County Airport
Board, Refunding RB, Series A,
5.00%, 7/01/27

 

 

7,001

 

 

7,497,662

 

 

 

 

BLACKROCK MUNIVEST FUND, INC.

MAY 31, 2010

5


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)
 (Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

Par
(000)

 

Value

 

 

Kentucky (concluded)

 

 

 

 

 

 

 

Louisville & Jefferson County
Metropolitan Government Parking
Authority, RB, Series A, 5.38%,
12/01/39

 

$

9,195

 

$

9,652,083

 

 

 

 

 

 

 

 

 

 

 

 

 

25,502,154

 

 

Maryland — 0.8%

 

 

 

 

 

 

 

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

 

 

4,710

 

 

4,982,615

 

 

Nevada — 2.9%

 

 

 

 

 

 

 

Clark County Water Reclamation
District, GO, Series B, 5.75%,
7/01/34

 

 

15,789

 

 

17,597,820

 

 

New York — 5.0%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Series DD, 5.00%, 6/15/37

 

 

24,199

 

 

25,323,503

 

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

 

 

4,154

 

 

4,633,002

 

 

 

 

 

 

 

 

 

 

 

 

 

29,956,505

 

 

North Carolina — 3.1%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, Refunding RB:

 

 

 

 

 

 

 

Duke University Project, Series A,
5.00%, 10/01/41

 

 

12,678

 

 

13,201,370

 

Wake Forest University, 5.00%,
1/01/38

 

 

5,000

 

 

5,296,900

 

 

 

 

 

 

 

 

 

 

 

 

 

18,498,270

 

 

Ohio — 3.7%

 

 

 

 

 

 

 

County of Allen Ohio, Refunding RB,
Catholic Healthcare, Series A, 5.25%,
6/01/38

 

 

2,870

 

 

2,939,569

 

County of Montgomery Ohio, Refunding
RB, Catholic Healthcare, Series A,
5.50%, 5/01/34

 

 

5,470

 

 

5,859,901

 

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

 

 

4,400

 

 

4,575,604

 

State of Ohio, RB, Cleveland Clinic
Health, Series B, 5.50%, 1/01/34

 

 

8,500

 

 

8,969,625

 

 

 

 

 

 

 

 

 

 

 

 

 

22,344,699

 

 

South Carolina — 0.6%

 

 

 

 

 

 

 

South Carolina State Housing Finance &
Development Authority, Refunding
RB, Series B-1, 5.55%, 7/01/39

 

 

3,269

 

 

3,381,059

 

 

Texas — 8.3%

 

 

 

 

 

 

 

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

 

 

20,970

 

 

25,783,034

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

Par
(000)

 

Value

 

 

Texas (concluded)

 

 

 

 

 

 

 

Houston Higher Education Finance
Corp., RB, Rice University Project,
Series A, 5.00%, 5/15/40

 

$

10,000

 

$

10,612,604

 

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

 

 

7,453

 

 

7,557,884

 

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

 

 

5,667

 

 

5,885,719

 

 

 

 

 

 

 

 

 

 

 

 

 

49,839,241

 

 

Virginia — 0.4%

 

 

 

 

 

 

 

Fairfax County IDA Virginia, Refunding
RB, Health Care, Inova Health
System, Series A, 5.50%, 5/15/35

 

 

2,099

 

 

2,224,952

 

 

Washington — 4.4%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.00%, 11/01/34

 

 

5,500

 

 

5,770,875

 

5.00%, 11/01/36

 

 

5,500

 

 

5,770,875

 

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

 

 

14,007

 

 

14,806,870

 

 

 

 

 

 

 

 

 

 

 

 

 

26,348,620

 

 

Wisconsin — 1.0%

 

 

 

 

 

 

 

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

 

 

6,099

 

 

6,254,269

 

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 49.8%

 

 

 

 

 

299,552,219

 

 

Total Long-Term Investments
(Cost – $934,831,747) – 162.3%

 

 

 

 

 

976,257,317

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.25% (f)(g)

 

 

13,511,328

 

 

13,511,328

 

 

Total Short-Term Securities
(Cost – $13,511,328) – 2.2%

 

 

 

 

 

13,511,328

 

 

Total Investments

 

 

 

 

 

 

 

(Cost – $948,343,075*) – 164.5%

 

 

 

 

 

989,768,645

 

Other Assets Less Liabilities – 1.7%

 

 

 

 

 

10,368,234

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (25.7)%

 

 

 

 

 

(154,732,820

)

Preferred Shares, at Redemption Value – (40.5)%

 

 

 

 

 

(243,862,908

)

 

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

601,541,151

 

 

 

 

 

 

 

 

 

 

6

BLACKROCK MUNIVEST FUND, INC.

MAY 31, 2010


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniVest Fund, Inc. (MVF)

 

 

*

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

 

 

 

 

 

Aggregate cost

 

$

794,200,972

 

 

 

 

Gross unrealized appreciation

 

$

53,712,803

 

Gross unrealized depreciation

 

 

(12,772,665

)

 

 

 

Net unrealized appreciation

 

$

40,940,138

 

 

 

 

 

 

(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 under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

 

(c)

Security is collateralized by Municipal or US Treasury obligations.

 

 

(d)

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

 

 

(e)

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.

 

 

(f)

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


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares Held
at August
31, 2009

 

Net Activity

 

Shares Held
at May 31,
2010

 

Income

 

FFI Institutional
Tax-Exempt Fund

 

 

4,104,364

 

 

9,406,964

 

 

13,511,328

 

$

16,669

 

 

 

 

(g)

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 semi-annual report.

The following table summarizes the inputs used as of May 31, 2010 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

976,257,317

 

 

—

 

$

976,257,317

 

Short-Term
Securities

 

$

13,511,328

 

 

—

 

 

—

 

 

13,511,328

 

Total

 

$

13,511,328

 

$

976,257,317

 

 

—

 

$

989,768,645

 

 

 

 

 

1

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

 

 

 

BLACKROCK MUNIVEST FUND, INC.

MAY 31, 2010

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 13(a)-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, Inc.
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley  
    Chief Executive Officer of
    BlackRock MuniVest Fund, Inc.
   
  Date: July 23, 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, Inc.
   
  Date: July 23, 2010
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews  
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniVest Fund, Inc.
   
  Date: July 23, 2010