UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-07478

 

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

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniVest Fund II, Inc., 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 04/30/2011

 

Date of reporting period: 01/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments January 31, 2011 (Unaudited)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 1.1%

 

 

 

 

 

 

 

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

 

$

3,500

 

$

2,822,365

 

Arizona — 2.8%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

660,450

 

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

 

 

1,705

 

 

1,604,320

 

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

 

 

1,915

 

 

1,759,387

 

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

 

 

1,110

 

 

1,083,349

 

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

 

 

475

 

 

465,766

 

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

 

 

1,980

 

 

1,939,746

 

 

 

 

 

 

 

 

 

 

 

 

7,513,018

 

Arkansas — 0.6%

 

 

 

 

 

 

 

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

 

 

1,660

 

 

1,518,933

 

California — 14.9%

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

2,200

 

 

2,160,598

 

Sutter Health, Series B, 6.00%,
8/15/42 (a)

 

 

3,170

 

 

3,112,686

 

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

 

 

1,185

 

 

1,205,501

 

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

 

 

800

 

 

765,880

 

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

 

 

5,930

 

 

5,452,101

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

$

9,475

 

$

9,057,153

 

State of California, GO, Various Purpose:

 

 

 

 

 

 

 

6.00%, 3/01/33

 

 

2,525

 

 

2,569,036

 

6.50%, 4/01/33

 

 

14,925

 

 

15,784,232

 

 

 

 

 

 

 

 

 

 

 

 

40,107,187

 

Colorado — 2.9%

 

 

 

 

 

 

 

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

 

 

1,060

 

 

1,099,697

 

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

 

 

2,190

 

 

1,931,755

 

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

 

 

95

 

 

99,277

 

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

 

 

 

 

 

 

 

8.00%, 12/01/25

 

 

3,300

 

 

3,200,010

 

Subordinate, 8.13%, 12/01/25

 

 

820

 

 

726,307

 

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

 

 

750

 

 

797,347

 

 

 

 

 

 

 

 

 

 

 

 

7,854,393

 

Connecticut — 2.3%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,375

 

 

1,239,494

 

Wesleyan University, 5.00%,
7/01/35

 

 

3,385

 

 

3,351,894

 

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

 

 

2,000

 

 

1,523,780

 

 

 

 

 

 

 

 

 

 

 

 

6,115,168

 

Delaware — 1.7%

 

 

 

 

 

 

 

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

 

 

1,125

 

 

1,079,820

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

ACA

ACA Financial Guaranty Corp.

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

CAB

Capital Appreciation Bonds

EDA

Economic Development Authority

EDC

Economic Development Corp.

ERB

Education Revenue Bonds

GO

General Obligation Bonds

HFA

Housing Finance Agency

HRB

Housing Revenue Bonds

IDA

Industrial Development Authority

IDB

Industrial Development Board

IDRB

Industrial Development Revenue Bonds

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

S/F

Single-Family

TIF

Tax Increment Financing

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Delaware (concluded)

 

 

 

 

 

 

 

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

 

$

4,065

 

$

3,583,135

 

 

 

 

 

 

 

 

 

 

 

 

4,662,955

 

District of Columbia — 1.9%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB:

 

 

 

 

 

 

 

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

 

 

6,590

 

 

1,431,744

 

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

 

 

4,830

 

 

976,529

 

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

 

 

6,515

 

 

1,199,281

 

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

 

 

1,500

 

 

1,449,360

 

 

 

 

 

 

 

 

 

 

 

 

5,056,914

 

Florida — 7.2%

 

 

 

 

 

 

 

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

 

 

5,680

 

 

5,306,199

 

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

 

 

 

 

 

 

 

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

 

 

4,940

 

 

4,258,774

 

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

 

 

1,165

 

 

1,080,526

 

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

 

 

 

 

 

 

 

Series A, 6.38%, 5/01/35

 

 

2,350

 

 

750,120

 

Series B, 5.75%, 5/01/13

 

 

400

 

 

127,680

 

Hillsborough County IDA, RB:

 

 

 

 

 

 

 

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

 

 

1,050

 

 

921,123

 

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

 

 

2,720

 

 

2,417,889

 

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

 

 

2,265

 

 

2,225,408

 

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

 

 

915

 

 

801,384

 

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

 

 

1,225

 

 

700,884

 

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

 

 

875

 

 

830,034

 

 

 

 

 

 

 

 

 

 

 

 

19,420,021

 

Georgia — 5.8%

 

 

 

 

 

 

 

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

 

 

845

 

 

784,692

 

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

 

 

2,000

 

 

1,759,660

 

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

 

 

3,465

 

 

3,362,575

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Georgia (concluded)

 

 

 

 

 

 

 

Municipal Electric Authority of Georgia,
RB, Series W:

 

 

 

 

 

 

 

6.60%, 1/01/18

 

$

5,540

 

$

6,355,765

 

6.60%, 1/01/18 (e)

 

 

380

 

 

425,281

 

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

 

 

1,205

 

 

1,401,535

 

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

 

 

1,525

 

 

1,493,646

 

 

 

 

 

 

 

 

 

 

 

 

15,583,154

 

Guam — 0.8%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A:

 

 

 

 

 

 

 

6.00%, 11/15/19

 

 

630

 

 

641,554

 

6.75%, 11/15/29

 

 

895

 

 

944,601

 

7.00%, 11/15/39

 

 

615

 

 

656,629

 

 

 

 

 

 

 

 

 

 

 

 

2,242,784

 

Hawaii — 0.5%

 

 

 

 

 

 

 

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

 

 

1,355

 

 

1,302,318

 

Idaho — 0.0%

 

 

 

 

 

 

 

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

 

 

5

 

 

5,006

 

Illinois — 13.8%

 

 

 

 

 

 

 

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

 

 

800

 

 

714,752

 

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

 

 

700

 

 

697,228

 

Illinois Finance Authority, RB:

 

 

 

 

 

 

 

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

 

 

5,000

 

 

5,224,950

 

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

 

 

1,000

 

 

927,000

 

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

 

 

1,540

 

 

1,532,377

 

Illinois Finance Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

1,610

 

 

1,514,849

 

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

 

 

250

 

 

190,007

 

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

 

 

 

 

 

 

 

CAB,Series B, 6.25%,
6/15/45 (b)

 

 

12,580

 

 

1,185,917

 

CAB, Series B, 6.25%,
6/15/46 (b)

 

 

6,400

 

 

559,424

 

Series B, 5.00%, 6/15/50

 

 

3,150

 

 

2,671,830

 

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

 

 

2,500

 

 

2,053,425

 

Railsplitter Tobacco Settlement
Authority, RB:

 

 

 

 

 

 

 

5.50%, 6/01/23

 

 

1,335

 

 

1,263,938

 

6.00%, 6/01/28

 

 

1,140

 

 

1,087,948

 

 

 

 

2

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Regional Transportation Authority, RB:

 

 

 

 

 

 

 

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

 

$

1,380

 

$

1,628,566

 

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

 

 

7,000

 

 

8,066,450

 

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

 

 

2,500

 

 

2,981,425

 

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

 

 

630

 

 

589,737

 

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

 

 

2,800

 

 

2,799,776

 

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

 

 

1,550

 

 

1,362,093

 

 

 

 

 

 

 

 

 

 

 

 

37,051,692

 

Indiana — 5.9%

 

 

 

 

 

 

 

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

 

 

840

 

 

761,544

 

Indiana Finance Authority, Refunding
RB:

 

 

 

 

 

 

 

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

 

 

1,500

 

 

1,333,005

 

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

 

 

3,295

 

 

3,248,178

 

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

 

 

500

 

 

441,250

 

Indiana Transportation Finance
Authority, RB, Series A:

 

 

 

 

 

 

 

7.25%, 6/01/15

 

 

160

 

 

163,296

 

6.80%, 12/01/16

 

 

3,290

 

 

3,708,620

 

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

 

 

5,890

 

 

6,282,215

 

 

 

 

 

 

 

 

 

 

 

 

15,938,108

 

Kansas — 0.6%

 

 

 

 

 

 

 

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

 

 

1,660

 

 

1,529,192

 

Kentucky — 0.4%

 

 

 

 

 

 

 

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

 

 

1,010

 

 

948,350

 

Louisiana — 5.3%

 

 

 

 

 

 

 

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

 

 

3,320

 

 

3,286,933

 

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

 

 

7,500

 

 

7,227,375

 

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

 

 

3,600

 

 

3,617,424

 

 

 

 

 

 

 

 

 

 

 

 

14,131,732

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Maryland — 1.8%

 

 

 

 

 

 

 

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

 

$

1,175

 

$

1,209,510

 

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

 

 

1,500

 

 

1,323,495

 

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

 

 

435

 

 

396,333

 

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

 

 

830

 

 

772,597

 

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

 

 

1,000

 

 

1,130,420

 

 

 

 

 

 

 

 

 

 

 

 

4,832,355

 

Massachusetts — 4.2%

 

 

 

 

 

 

 

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

 

 

3,000

 

 

2,714,850

 

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

 

 

2,720

 

 

2,490,024

 

Massachusetts HFA, Refunding HRB,
AMT:

 

 

 

 

 

 

 

Series D, 4.85%, 6/01/40

 

 

2,770

 

 

2,398,432

 

Series F, 5.70%, 6/01/40

 

 

2,185

 

 

2,074,658

 

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

 

 

1,805

 

 

1,616,486

 

 

 

 

 

 

 

 

 

 

 

 

11,294,450

 

Michigan — 7.7%

 

 

 

 

 

 

 

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

 

 

910

 

 

1,053,844

 

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

 

 

2,695

 

 

2,525,323

 

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

 

 

1,380

 

 

1,278,832

 

Michigan State Hospital Finance
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

7,050

 

 

5,862,780

 

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

 

 

8,560

 

 

8,386,061

 

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

 

 

1,400

 

 

1,558,914

 

 

 

 

 

 

 

 

 

 

 

 

20,665,754

 

Mississippi — 1.5%

 

 

 

 

 

 

 

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

 

 

3,000

 

 

3,081,330

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Mississippi (concluded)

 

 

 

 

 

 

 

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

 

$

1,065

 

$

1,065,309

 

 

 

 

 

 

 

 

 

 

 

 

4,146,639

 

Montana — 0.7%

 

 

 

 

 

 

 

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

 

 

2,265

 

 

2,005,454

 

Nevada — 0.2%

 

 

 

 

 

 

 

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

 

 

565

 

 

508,935

 

New Jersey — 2.9%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.50%, 6/15/24

 

 

2,420

 

 

2,224,004

 

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

 

 

3,000

 

 

2,715,570

 

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

 

 

1,680

 

 

17

 

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

 

 

1,215

 

 

1,286,697

 

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

 

 

1,910

 

 

1,594,888

 

 

 

 

 

 

 

 

 

 

 

 

7,821,176

 

New York — 9.7%

 

 

 

 

 

 

 

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

 

 

9,405

 

 

10,285,966

 

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

 

 

1,205

 

 

1,101,900

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

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

 

 

1,920

 

 

1,923,802

 

Series C, 6.80%, 6/01/28

 

 

690

 

 

709,672

 

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

 

 

890

 

 

850,938

 

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

 

 

6,700

 

 

6,690,084

 

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

 

 

1,220

 

 

1,226,137

 

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

 

 

 

 

 

 

 

6.00%, 12/01/36

 

 

1,165

 

 

1,117,433

 

6.00%, 12/01/42

 

 

1,250

 

 

1,179,837

 

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

 

 

1,000

 

 

956,110

 

 

 

 

 

 

 

 

 

 

 

 

26,041,879

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

North Carolina — 3.0%

 

 

 

 

 

 

 

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

 

$

1,675

 

$

1,248,059

 

North Carolina Capital Facilities Finance
Agency, RB, Duke Energy Carolinas,
Series B, 4.38%, 10/01/31

 

 

1,610

 

 

1,435,379

 

North Carolina Capital Facilities Finance
Agency, Refunding RB, Duke Energy
Carolinas, Series A, 4.63%, 11/01/40

 

 

2,695

 

 

2,378,230

 

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

 

 

1,400

 

 

1,282,246

 

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

 

 

2,000

 

 

1,642,020

 

 

 

 

 

 

 

 

 

 

 

 

7,985,934

 

Pennsylvania — 5.6%

 

 

 

 

 

 

 

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

 

 

4,250

 

 

2,824,380

 

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

 

 

880

 

 

833,835

 

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

 

 

2,000

 

 

1,783,100

 

Montgomery County IDA Pennsylvania,
MRB, Whitemarsh Continuing Care:

 

 

 

 

 

 

 

6.13%, 2/01/28

 

 

470

 

 

399,688

 

6.25%, 2/01/35

 

 

1,090

 

 

903,850

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,890

 

 

1,805,385

 

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

 

 

2,000

 

 

1,593,020

 

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

 

 

3,915

 

 

3,705,234

 

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

 

 

1,265

 

 

1,265,582

 

 

 

 

 

 

 

 

 

 

 

 

15,114,074

 

Puerto Rico — 2.7%

 

 

 

 

 

 

 

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

 

 

2,990

 

 

2,918,180

 

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

 

 

4,255

 

 

4,403,627

 

 

 

 

 

 

 

 

 

 

 

 

7,321,807

 

South Carolina — 1.2%

 

 

 

 

 

 

 

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

 

 

3,280

 

 

3,147,127

 

 

 

 

4

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Tennessee — 0.7%

 

 

 

 

 

 

 

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

 

$

1,000

 

$

893,350

 

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

 

 

1,025

 

 

921,280

 

 

 

 

 

 

 

 

 

 

 

 

1,814,630

 

Texas — 10.1%

 

 

 

 

 

 

 

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

 

 

1,500

 

 

521,580

 

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

 

 

3,000

 

 

3,004,080

 

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

 

 

1,510

 

 

1,507,765

 

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

 

 

4,820

 

 

4,696,897

 

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

 

 

2,000

 

 

2,147,740

 

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

 

 

7,000

 

 

7,025,480

 

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

 

 

 

 

 

 

 

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

 

 

4,310

 

 

4,339,136

 

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

 

 

3,875

 

 

3,862,639

 

 

 

 

 

 

 

 

 

 

 

 

27,105,317

 

U.S. Virgin Islands — 2.2%

 

 

 

 

 

 

 

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

 

 

6,000

 

 

5,956,200

 

Utah — 0.9%

 

 

 

 

 

 

 

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

 

 

2,780

 

 

2,544,784

 

Virginia — 1.4%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.13%, 10/01/37

 

 

1,000

 

 

852,500

 

5.13%, 10/01/42

 

 

3,440

 

 

2,871,781

 

 

 

 

 

 

 

 

 

 

 

 

3,724,281

 

Washington — 1.4%

 

 

 

 

 

 

 

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

 

 

3,700

 

 

3,853,032

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Wisconsin — 4.4%

 

 

 

 

 

 

 

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

 

$

7,100

 

$

7,530,189

 

Wisconsin Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

 

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

 

 

2,465

 

 

2,208,566

 

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

 

 

2,215

 

 

2,218,544

 

 

 

 

 

 

 

 

 

 

 

 

11,957,299

 

Total Municipal Bonds – 130.8%

 

 

 

 

 

351,644,417

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (f)

 

 

 

 

 

 

 

California — 3.4%

 

 

 

 

 

 

 

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

 

 

3,271

 

 

3,316,231

 

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

 

 

2,610

 

 

2,629,445

 

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

 

 

2,290

 

 

2,157,661

 

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

 

 

1,077

 

 

1,082,694

 

 

 

 

 

 

 

 

 

 

 

 

9,186,031

 

Colorado — 0.8%

 

 

 

 

 

 

 

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

 

 

2,129

 

 

2,079,997

 

Connecticut — 2.2%

 

 

 

 

 

 

 

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

 

 

6,000

 

 

6,058,680

 

Illinois — 1.6%

 

 

 

 

 

 

 

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

 

 

1,320

 

 

1,271,951

 

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

 

 

2,999

 

 

2,939,480

 

 

 

 

 

 

 

 

 

 

 

 

4,211,431

 

Maryland — 0.8%

 

 

 

 

 

 

 

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

 

 

2,290

 

 

2,289,908

 

Massachusetts — 3.7%

 

 

 

 

 

 

 

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

 

 

10,000

 

 

10,007,800

 

New Hampshire — 0.8%

 

 

 

 

 

 

 

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

 

 

2,009

 

 

2,049,617

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011

5


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniVest Fund II, Inc. (MVT)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (f)

 

Par
(000)

 

Value

 

New York — 5.0%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB:

 

 

 

 

 

 

 

Series DD, 5.00%, 6/15/37

 

$

6,299

 

$

6,075,125

 

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

 

 

1,575

 

 

1,609,418

 

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

 

 

5,790

 

 

5,646,576

 

 

 

 

 

 

 

 

 

 

 

 

13,331,119

 

North Carolina — 2.3%

 

 

 

 

 

 

 

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

 

 

6,239

 

 

6,161,548

 

Ohio — 5.9%

 

 

 

 

 

 

 

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

 

 

2,400

 

 

2,274,312

 

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

 

 

13,840

 

 

13,549,360

 

 

 

 

 

 

 

 

 

 

 

 

15,823,672

 

South Carolina — 1.9%

 

 

 

 

 

 

 

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

 

 

4,995

 

 

5,159,685

 

Texas — 6.6%

 

 

 

 

 

 

 

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

 

 

10,000

 

 

11,345,600

 

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

 

 

3,801

 

 

3,622,126

 

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

 

 

2,743

 

 

2,703,346

 

 

 

 

 

 

 

 

 

 

 

 

17,671,072

 

Washington — 6.1%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.00%, 11/01/36

 

 

4,500

 

 

4,430,610

 

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

 

 

7,693

 

 

7,642,433

 

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

 

 

4,500

 

 

4,430,610

 

 

 

 

 

 

 

 

 

 

 

 

16,503,653

 

Wisconsin — 0.9%

 

 

 

 

 

 

 

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

 

 

2,499

 

 

2,299,871

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 42.0%

 

 

 

 

 

112,834,084

 

Total Long-Term Investments
(Cost – $475,008,343) – 172.8%

 

 

 

 

 

464,478,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

FFI Institutional Tax-Exempt Fund,
0.16% (g)(h)

 

 

6,329,242

 

$

6,329,242

 

Total Short-Term Securities
(Cost – $6,329,242) – 2.3%

 

 

 

 

 

6,329,242

 

Total Investments
(Cost – $481,337,585*) – 175.1%

 

 

 

 

 

470,807,743

 

Other Assets Less Liabilities – 0.1%

 

 

 

 

 

328,201

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (23.1)%

 

 

 

 

 

(62,220,305

)

Preferred Shares, at Redemption Value – (52.1)%

 

 

 

 

 

(140,022,949

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

268,892,690

 

 

 

 

 

 

 

 

*

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

 

 

 

 

 

Aggregate cost

 

$

419,029,846

 

 

 

Gross unrealized appreciation

 

$

11,894,218

 

Gross unrealized depreciation

 

 

(22,296,197

)

 

 

Net unrealized depreciation

 

$

(10,401,979

)

 

 

 

 

(a)

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

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Morgan Stanley & Co. Inc.

 

$

3,112,686

 

$

30,083

 

Goldman Sachs & Co.

 

$

2,225,408

 

$

27,724

 

 

 

(b)

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

 

 

(c)

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

 

 

(d)

Non-income producing security.

 

 

(e)

Security is collateralized by Municipal or US Treasury obligations.

 

 

(f)

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

 

 

(g)

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
April 30,
2010

 

Net
Activity

 

Shares
Held at
January 31,
2011

 

Income

 

FFI Institutional
Tax-Exempt
Fund

 

 

552,231

 

 

5,777,011

 

 

6,329,242

 

$

5,763

 

 

 

(h)

Represents the current yield as of report date.


 

 

 

6

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniVest Fund II, Inc. (MVT)

 

 

 

 

•

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 January 31, 2011 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

 

 

—

 

$

464,478,501

 

 

—

 

$

464,478,501

 

Short-Term Securities

 

$

6,329,242

 

 

—

 

 

—

 

 

6,329,242

 

 

 

Total

 

$

6,329,242

 

$

464,478,501

 

 

—

 

$

470,807,743

 

 

 

 

 

 

 

1

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

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2011

7

Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock MuniVest Fund II, Inc.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: March 25, 2011
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: March 25, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniVest Fund II, Inc.
     
  Date: March 25, 2011