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: 08/31/2011

 

Date of reporting period: 11/30/2010

 

Item 1 – Schedule of Investments

 

 

 

 

Schedule of Investments November 30, 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

 

$

2,931,786

 

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

 

 

6,500

 

 

5,574,400

 

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

 

 

5,000

 

 

5,061,800

 

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

 

 

1,850

 

 

1,876,695

 

 

 

 

 

 

 

 

 

 

 

 

15,444,681

 

Arizona — 3.2%

 

 

 

 

 

 

 

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

 

 

4,100

 

 

2,791,772

 

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

 

 

3,400

 

 

3,324,826

 

Phoenix Civic Improvement Corp., RB,
Junior Lien, Series A, 5.00%, 7/01/40

 

 

2,000

 

 

1,939,820

 

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

 

 

2,005

 

 

2,013,261

 

Pima County IDA, Refunding RB:

 

 

 

 

 

 

 

Arizona Charter Schools Project,
Series I, 6.10%, 7/01/13 (a)(b)

 

 

110

 

 

123,443

 

Arizona Charter Schools Project,
Series I, 6.30%, 7/01/13 (a)(b)

 

 

230

 

 

259,274

 

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

 

 

1,470

 

 

1,215,558

 

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

 

 

380

 

 

355,984

 

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

 

 

755

 

 

688,281

 

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

 

 

920

 

 

921,049

 

Salt Verde Financial Corp., RB, Senior,
5.00%, 12/01/37

 

 

5,000

 

 

4,420,450

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Arizona (concluded)

 

 

 

 

 

 

 

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

 

$

650

 

$

661,914

 

 

 

 

 

 

 

 

 

 

 

 

18,715,632

 

California — 10.4%

 

 

 

 

 

 

 

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

 

 

3,730

 

 

3,792,440

 

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

 

 

 

 

 

 

 

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

 

 

1,055

 

 

1,102,401

 

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

 

 

5,000

 

 

5,149,850

 

California State Public Works Board, RB:

 

 

 

 

 

 

 

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

 

 

5,000

 

 

5,122,450

 

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

 

 

6,000

 

 

6,113,640

 

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

 

 

10,435

 

 

9,926,085

 

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

 

 

5,240

 

 

5,468,831

 

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

 

 

10,725

 

 

12,513,608

 

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

 

 

1,200

 

 

1,211,388

 

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

 

 

9,700

 

 

10,702,010

 

 

 

 

 

 

 

 

 

 

 

 

61,102,703

 

Colorado — 1.1%

 

 

 

 

 

 

 

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

 

 

2,500

 

 

2,717,575

 

Colorado Health Facilities Authority,
Refunding RB, Evangelical Lutheran,
Series A, 5.25%, 6/01/34

 

 

3,000

 

 

2,852,430

 

 

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

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.

NOVEMBER 30, 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

 

$

355

 

$

363,162

 

7.50%, 4/01/31

 

 

130

 

 

136,448

 

Regional Transportation District, COP,
Series A, 5.38%, 6/01/31 (c)

 

 

385

 

 

385,708

 

 

 

 

 

 

 

 

 

 

 

 

6,455,323

 

Connecticut — 0.4%

 

 

 

 

 

 

 

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

 

 

2,810

 

 

2,266,321

 

District of Columbia — 0.2%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.00%, 10/01/39

 

 

415

 

 

417,328

 

5.25%, 10/01/44

 

 

650

 

 

663,306

 

 

 

 

 

 

 

 

 

 

 

 

1,080,634

 

Florida — 6.5%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

Series B, 6.38%, 7/01/28

 

 

4,630

 

 

5,196,712

 

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

 

 

5,000

 

 

5,223,900

 

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

 

 

 

 

 

 

 

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

 

 

10,000

 

 

9,297,900

 

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

 

 

10,290

 

 

10,357,194

 

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

 

 

5,500

 

 

5,155,810

 

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

 

 

3,200

 

 

3,200,000

 

 

 

 

 

 

 

 

 

 

 

 

38,431,516

 

Georgia — 2.9%

 

 

 

 

 

 

 

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

 

 

3,570

 

 

3,589,100

 

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

 

 

3,335

 

 

3,387,326

 

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

 

 

4,785

 

 

4,805,336

 

Municipal Electric Authority of Georgia,
RB, Series W:

 

 

 

 

 

 

 

6.60%, 1/01/18

 

 

4,565

 

 

5,310,373

 

6.60%, 1/01/18 (e)

 

 

250

 

 

282,533

 

 

 

 

 

 

 

 

 

 

 

 

17,374,668

 

Hawaii — 0.9%

 

 

 

 

 

 

 

State of Hawaii, Refunding RB, Series A,
5.25%, 7/01/35

 

 

5,000

 

 

5,021,900

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Idaho — 0.00%

 

 

 

 

 

 

 

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

 

$

90

 

$

90,153

 

Illinois — 11.7%

 

 

 

 

 

 

 

Chicago Park District, GO, Harbor
Facilities, Series C, 5.25%, 1/01/40

 

 

4,675

 

 

4,692,952

 

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

 

 

17,080

 

 

17,660,549

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

 

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

 

 

9,700

 

 

10,581,827

 

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

 

 

2,140

 

 

2,062,404

 

Illinois Finance Authority, Refunding RB,
Series A:

 

 

 

 

 

 

 

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

 

 

9,000

 

 

9,667,800

 

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

 

 

5,200

 

 

5,199,844

 

Regional Transportation Authority, RB:

 

 

 

 

 

 

 

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

 

 

3,290

 

 

4,055,089

 

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

 

 

4,000

 

 

5,106,720

 

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

 

 

10,000

 

 

10,004,300

 

 

 

 

 

 

 

 

 

 

 

 

69,031,485

 

Indiana — 5.2%

 

 

 

 

 

 

 

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

 

 

8,980

 

 

8,642,082

 

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

 

 

7,280

 

 

8,226,400

 

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

 

 

12,875

 

 

13,835,604

 

 

 

 

 

 

 

 

 

 

 

 

30,704,086

 

Kansas — 0.3%

 

 

 

 

 

 

 

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

 

 

1,885

 

 

1,966,244

 

Kentucky — 0.5%

 

 

 

 

 

 

 

County of Owen Kentucky, RB, Kentucky
American Water Co., Series B, 5.63%,
9/01/39

 

 

1,000

 

 

1,009,190

 

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

 

 

2,000

 

 

2,037,780

 

 

 

 

 

 

 

 

 

 

 

 

3,046,970

 

Louisiana — 0.5%

 

 

 

 

 

 

 

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

 

 

2,615

 

 

2,662,436

 

 

 

 

2

BLACKROCK MUNIVEST FUND, INC.

NOVEMBER 30, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Maine — 1.2%

 

 

 

 

 

 

 

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

 

$

5,000

 

$

5,006,700

 

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

 

 

 

 

 

 

 

5.70%, 8/01/21

 

 

775

 

 

778,023

 

6.00%, 2/01/34

 

 

1,190

 

 

1,141,091

 

 

 

 

 

 

 

 

 

 

 

 

6,925,814

 

Maryland — 1.5%

 

 

 

 

 

 

 

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

 

 

1,835

 

 

1,821,604

 

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

 

 

3,250

 

 

3,115,060

 

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

 

 

 

 

 

 

 

5.00%, 7/01/34

 

 

2,100

 

 

2,082,675

 

5.13%, 7/01/39

 

 

2,100

 

 

2,110,773

 

 

 

 

 

 

 

 

 

 

 

 

9,130,112

 

Massachusetts — 6.6%

 

 

 

 

 

 

 

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

 

 

985

 

 

992,092

 

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

 

 

3,010

 

 

3,712,925

 

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

 

 

3,000

 

 

2,890,500

 

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

 

 

2,500

 

 

2,412,700

 

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

 

 

3,000

 

 

2,787,480

 

Massachusetts HFA, Refunding RB,
Series C, AMT, 5.35%, 12/01/42

 

 

6,550

 

 

6,288,721

 

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

 

 

16,000

 

 

19,597,760

 

 

 

 

 

 

 

 

 

 

 

 

38,682,178

 

Michigan — 4.9%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

6.25%, 7/01/36

 

 

2,500

 

 

2,688,750

 

7.00%, 7/01/36

 

 

1,250

 

 

1,415,263

 

Michigan State Hospital Finance
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

7,950

 

 

7,072,479

 

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

 

 

1,000

 

 

970,430

 

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

 

 

7,285

 

 

7,480,092

 

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

 

 

4,200

 

 

4,242,672

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Michigan (concluded)

 

 

 

 

 

 

 

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

 

$

4,100

 

$

4,797,697

 

 

 

 

 

 

 

 

 

 

 

 

28,667,383

 

Mississippi — 5.4%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

Series A, 6.80%, 4/01/22

 

 

9,160

 

 

10,016,002

 

Series B, 6.70%, 4/01/22

 

 

4,500

 

 

4,883,265

 

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

 

 

 

 

 

 

 

5.88%, 4/01/22

 

 

15,000

 

 

14,927,550

 

5.90%, 5/01/22

 

 

2,250

 

 

2,239,177

 

 

 

 

 

 

 

 

 

 

 

 

32,065,994

 

Nevada — 0.9%

 

 

 

 

 

 

 

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

 

 

5,000

 

 

5,204,200

 

New Hampshire — 0.4%

 

 

 

 

 

 

 

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

 

 

2,400

 

 

2,453,304

 

New Jersey — 5.8%

 

 

 

 

 

 

 

Delaware River Port Authority, RB,
Series D, 5.00%, 1/01/40

 

 

195

 

 

196,693

 

New Jersey EDA, RB, Cigarette Tax:

 

 

 

 

 

 

 

5.50%, 6/15/24

 

 

9,080

 

 

8,793,526

 

5.75%, 6/15/29

 

 

2,885

 

 

2,752,174

 

5.75%, 6/15/34

 

 

3,695

 

 

3,464,395

 

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

 

 

10,000

 

 

10,469,000

 

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

 

 

1,450

 

 

1,552,979

 

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

 

 

5,980

 

 

6,897,990

 

 

 

 

 

 

 

 

 

 

 

 

34,126,757

 

New York — 3.5%

 

 

 

 

 

 

 

Metropolitan Transportation Authority,
RB, Series 2008C:

 

 

 

 

 

 

 

6.25%, 11/15/23

 

 

3,245

 

 

3,692,648

 

6.50%, 11/15/28

 

 

14,925

 

 

16,860,324

 

 

 

 

 

 

 

 

 

 

 

 

20,552,972

 

North Carolina — 1.4%

 

 

 

 

 

 

 

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

 

 

800

 

 

833,224

 

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

 

 

3,213,435

 

 

 

 

BLACKROCK MUNIVEST FUND, INC.

NOVEMBER 30, 2010

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

North Carolina (concluded)

 

 

 

 

 

 

 

North Carolina Medical Care
Commission, RB, Novant Health
Obligation, Series A, 4.75%,
11/01/43

 

$

5,000

 

$

4,444,700

 

 

 

 

 

 

 

 

 

 

 

 

8,491,359

 

Ohio — 2.0%

 

 

 

 

 

 

 

County of Butler Ohio, RB, UC Health,
5.50%, 11/01/40

 

 

4,000

 

 

3,712,840

 

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

 

 

8,000

 

 

8,120,000

 

 

 

 

 

 

 

 

 

 

 

 

11,832,840

 

Pennsylvania — 2.4%

 

 

 

 

 

 

 

Chester County IDA, RB, Aqua
Pennsylvania Inc. Project, Series A,
AMT (NPFGC), 5.00%, 2/01/40

 

 

530

 

 

510,290

 

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

 

 

3,950

 

 

3,995,109

 

Pennsylvania Economic Development
Financing Authority, Refunding RB,
Aqua Pennsylvania Inc. Project,
Series A, AMT, 5.00%, 12/01/34

 

 

2,780

 

 

2,707,970

 

Pennsylvania Higher Educational
Facilities Authority, Refunding RB,
Saint Joseph’s University, Series A,
5.00%, 11/01/40

 

 

4,500

 

 

4,431,150

 

Philadelphia Authority for Industrial
Development, RB:

 

 

 

 

 

 

 

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

 

 

1,000

 

 

954,040

 

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

 

 

1,355

 

 

1,292,724

 

 

 

 

 

 

 

 

 

 

 

 

13,891,283

 

Puerto Rico — 2.8%

 

 

 

 

 

 

 

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

 

 

13,000

 

 

14,082,250

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.70%, 8/01/41 (f)

 

 

15,000

 

 

2,163,000

 

 

 

 

 

 

 

 

 

 

 

 

16,245,250

 

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

 

 

957,030

 

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

 

 

5,000

 

 

5,062,550

 

 

 

 

 

 

 

 

 

 

 

 

6,019,580

 

Texas — 12.7%

 

 

 

 

 

 

 

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

 

 

3,055

 

 

1,130,350

 

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

 

 

11,460

 

 

11,665,478

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

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

 

$

8,335

 

$

8,739,748

 

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

 

 

4,000

 

 

4,026,000

 

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

 

 

 

 

 

 

 

7.13%, 12/01/31

 

 

3,500

 

 

3,921,925

 

7.25%, 12/01/35

 

 

5,400

 

 

6,034,770

 

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

 

 

1,790

 

 

1,700,321

 

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

 

 

925

 

 

922,438

 

Love Field Airport Modernization Corp.,
RB, Southwest Airlines Co. Project,
5.25%, 11/01/40

 

 

3,600

 

 

3,334,536

 

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

 

 

9,355

 

 

9,063,217

 

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

 

 

3,500

 

 

3,636,885

 

Tarrant County Cultural Education
Facilities Finance Corp., RB, Scott &
White Healthcare, 6.00%, 8/15/45

 

 

5,000

 

 

5,197,050

 

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

 

 

 

 

 

 

 

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

 

 

10,000

 

 

10,325,100

 

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

 

 

4,710

 

 

4,835,898

 

 

 

 

 

 

 

 

 

 

 

 

74,533,716

 

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

 

 

8,065,120

 

Vermont — 0.2%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

960,180

 

Virginia — 3.1%

 

 

 

 

 

 

 

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

 

 

1,425

 

 

1,456,891

 

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

 

 

4,225

 

 

4,065,337

 

City of Portsmouth Virginia, GO,
Refunding, Series D, 5.00%,
7/15/34 (c)

 

 

3,105

 

 

3,190,822

 

County of Spotsylvania Virginia, RB
(AGM), 5.00%, 6/01/37

 

 

75

 

 

76,796

 

 

 

 

4

BLACKROCK MUNIVEST FUND, INC.

NOVEMBER 30, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund, Inc. (MVF)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Virginia (concluded)

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.13%, 10/01/37

 

$

2,000

 

$

1,817,260

 

5.13%, 10/01/42

 

 

7,015

 

 

6,265,237

 

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

 

 

1,325

 

 

1,344,584

 

 

 

 

 

 

 

 

 

 

 

 

18,216,927

 

Washington — 4.7%

 

 

 

 

 

 

 

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

 

 

14,320

 

 

18,102,485

 

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

 

 

2,230

 

 

2,078,672

 

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

 

 

7,000

 

 

7,565,320

 

 

 

 

 

 

 

 

 

 

 

 

27,746,477

 

West Virginia — 0.4%

 

 

 

 

 

 

 

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

 

 

2,500

 

 

2,547,325

 

Wisconsin — 1.8%

 

 

 

 

 

 

 

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

 

 

1,605

 

 

1,537,879

 

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

 

 

4,500

 

 

4,555,620

 

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

 

 

3,040

 

 

3,101,134

 

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

 

 

1,350

 

 

1,350,176

 

 

 

 

 

 

 

 

 

 

 

 

10,544,809

 

Wyoming — 0.8%

 

 

 

 

 

 

 

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

 

 

4,500

 

 

4,721,130

 

Total Municipal Bonds – 111.3%

 

 

 

 

 

655,019,462

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

 

 

 

 

 

 

Arizona — 0.6%

 

 

 

 

 

 

 

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

 

 

3,500

 

 

3,636,010

 

California — 5.3%

 

 

 

 

 

 

 

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

 

 

9,586

 

 

10,478,192

 

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

 

 

20,000

 

 

20,689,400

 

 

 

 

 

 

 

 

 

 

 

 

31,167,592

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

Par
(000)

 

Value

 

Connecticut — 2.1%

 

 

 

 

 

 

 

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

 

$

12,000

 

$

12,518,040

 

District of Columbia — 1.3%

 

 

 

 

 

 

 

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

 

 

7,495

 

 

7,878,645

 

Florida — 4.0%

 

 

 

 

 

 

 

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

 

 

14,747

 

 

14,825,549

 

Miami-Dade County Expressway
Authority, RB, Series A (AGC), 5.00%,
7/01/35

 

 

8,900

 

 

8,751,192

 

 

 

 

 

 

 

 

 

 

 

 

23,576,741

 

Illinois — 3.4%

 

 

 

 

 

 

 

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

 

 

1,330

 

 

1,377,427

 

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

 

 

10,000

 

 

11,305,700

 

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

 

 

6,999

 

 

7,345,566

 

 

 

 

 

 

 

 

 

 

 

 

20,028,693

 

Kentucky — 6.8%

 

 

 

 

 

 

 

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

 

 

8,003

 

 

8,225,050

 

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

 

 

7,220

 

 

7,324,690

 

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

 

 

7,001

 

 

7,334,795

 

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

 

 

9,195

 

 

9,435,817

 

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

 

 

8,003

 

 

7,450,462

 

 

 

 

 

 

 

 

 

 

 

 

39,770,814

 

Maryland — 0.8%

 

 

 

 

 

 

 

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

 

 

4,710

 

 

4,859,778

 

Nevada — 2.9%

 

 

 

 

 

 

 

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

 

 

15,789

 

 

17,100,120

 

New York — 5.0%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Series DD, 5.00%, 6/15/37

 

 

24,199

 

 

24,716,325

 

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

 

 

4,154

 

 

4,451,802

 

 

 

 

 

 

 

 

 

 

 

 

29,168,127

 

 

 

 

BLACKROCK MUNIVEST FUND, INC.

NOVEMBER 30, 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 (g)

 

Par
(000)

 

Value

 

North Carolina — 3.1%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, Refunding RB:

 

 

 

 

 

 

 

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

 

$

12,678

 

$

12,941,050

 

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

 

 

5,000

 

 

5,103,100

 

 

 

 

 

 

 

 

 

 

 

 

18,044,150

 

Ohio — 3.7%

 

 

 

 

 

 

 

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

 

 

2,870

 

 

2,893,505

 

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

 

 

5,470

 

 

5,728,567

 

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

 

 

4,400

 

 

4,512,244

 

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

 

 

8,500

 

 

8,888,705

 

 

 

 

 

 

 

 

 

 

 

 

22,023,021

 

Oregon — 2.2%

 

 

 

 

 

 

 

Oregon State Housing & Community
Services Department, HRB, Series A,
AMT, 4.95%, 7/01/30

 

 

13,000

 

 

12,791,311

 

South Carolina — 0.6%

 

 

 

 

 

 

 

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

 

 

3,259

 

 

3,342,977

 

Texas — 8.2%

 

 

 

 

 

 

 

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

 

 

20,970

 

 

25,091,234

 

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

 

 

10,000

 

 

10,303,783

 

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

 

 

6,999

 

 

7,027,559

 

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

 

 

5,667

 

 

5,787,741

 

 

 

 

 

 

 

 

 

 

 

 

48,210,317

 

Virginia — 1.2%

 

 

 

 

 

 

 

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

 

 

2,099

 

 

2,208,614

 

Virginia Small Business Financing
Authority, Refunding RB, Sentara
Healthcare, 5.00%, 11/01/40

 

 

5,002

 

 

5,080,296

 

 

 

 

 

 

 

 

 

 

 

 

7,288,910

 

Washington — 4.4%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.00%, 11/01/36

 

 

5,500

 

 

5,614,207

 

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

 

 

14,007

 

 

14,436,025

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (g)

 

Par
(000)

 

Value

 

Washington (concluded)

 

 

 

 

 

 

 

Central Puget Sound Regional
Transportation Authority, Washington,
RB, Series A, 5.00%, 11/01/34

 

$

5,500

 

$

5,614,208

 

 

 

 

 

 

 

 

 

 

 

 

25,664,440

 

Wisconsin — 1.0%

 

 

 

 

 

 

 

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

 

 

6,099

 

 

6,163,858

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 56.6%

 

 

 

 

 

333,233,544

 

Total Long-Term Investments
(Cost – $960,601,463) – 167.9%

 

 

 

 

 

988,253,006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

FFI Institutional Tax-Exempt Fund,
0.15% (h)(i)

 

 

12,827,829

 

 

12,827,829

 

Total Short-Term Securities
(Cost – $12,827,829) – 2.2%

 

 

 

 

 

12,827,829

 

Total Investments
(Cost – $973,429,292*) – 170.1%

 

 

 

 

 

1,001,080,835

 

Other Assets Less Liabilities – 1.8%

 

 

 

 

 

10,537,858

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (30.5)%

 

 

 

 

 

(179,197,533

)

Preferred Shares, at Redemption Value – (41.4)%

 

 

 

 

 

(243,850,520

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

588,570,640

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2010, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

796,961,997

 

 

 

Gross unrealized appreciation

 

$

41,896,098

 

Gross unrealized depreciation

 

 

(16,832,058

)

 

 

Net unrealized appreciation

 

$

25,064,040

 

 

 

 

 

(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)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Wells Fargo Bank

 

$

3,190,822

 

$

98,739

 

JPMorgan Securities, Inc.

 

$

2,662,436

 

$

47,436

 

Morgan Stanley & Co.

 

$

385,708

 

$

6,587

 

 

 

(d)

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

 

 

(e)

Security is collateralized by Municipal or US Treasury obligations.

 

 

(f)

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

 

 

(g)

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.

 

 

 

6

BLACKROCK MUNIVEST FUND, INC.

NOVEMBER 30, 2010


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniVest Fund, Inc. (MVF)

 

 

(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
August 31,
2010

 

Net
Activity

 

Shares
Held at
November 30,
2010

 

Income

 

FFI Institutional
Tax-Exempt
Fund

 

 

4,494,923

 

 

8,332,906

 

 

12,827,829

 

$

5,706

 

 

 

 

(i)

Represents the current yield as of report date.

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

 

 

 

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

 

 

The following table summarizes the inputs used as of November 30, 2010 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

988,253,006

 

 

—

 

$

988,253,006

 

Short-Term
Securities

 

$

12,827,829

 

 

—

 

 

—

 

 

12,827,829

 

 

 

Total

 

$

12,827,839

 

$

988,253,006

 

 

—

 

$

1,001,080,835

 

 

 

 

 

1

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

 

 

 

BLACKROCK MUNIVEST FUND, INC.

NOVEMBER 30, 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 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, Inc.
   
  By: /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund, Inc.
   
  Date: January 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/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund, Inc.
   
  Date: January 26, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniVest Fund, Inc.
     
  Date: January 26, 2011