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
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 04/30/2014
Date of reporting period: 01/31/2014
Item 1 Schedule of Investments
Schedule of Investments January 31, 2014 (Unaudited) | BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Alabama 2.6% |
||||||||
County of Jefferson Alabama, RB, Limited Obligation School, Series A, 5.25%, 1/01/19 |
$ | 1,490 | $ | 1,495,677 | ||||
County of Jefferson Alabama Sewer, Refunding RB: |
||||||||
Convertible CAB, Senior Lien, Series C (AGM), 0.00%, 10/01/38 (a) |
585 | 329,074 | ||||||
Convertible CAB, Senior Lien, Series C (AGM), 0.00%, 10/01/42 (a) |
510 | 283,177 | ||||||
Senior Lien, Series A (AGM), 5.00%, 10/01/44 |
805 | 784,006 | ||||||
Senior Lien, Series A (AGM), 5.25%, 10/01/48 |
1,530 | 1,505,872 | ||||||
Sub-Lien, Series D, 6.00%, 10/01/42 |
3,575 | 3,526,487 | ||||||
|
|
|||||||
7,924,293 | ||||||||
Alaska 1.0% |
||||||||
Northern Tobacco Securitization Corp., Refunding RB, Tobacco Settlement, Asset-Backed, Series A: |
||||||||
4.63%, 6/01/23 |
1,570 | 1,475,565 | ||||||
5.00%, 6/01/46 |
2,250 | 1,551,037 | ||||||
|
|
|||||||
3,026,602 | ||||||||
Arizona 0.3% |
||||||||
County of Maricopa Arizona IDA, RB, Arizona Charter Schools Project, Series A, 6.75%, 7/01/29 |
900 | 806,373 | ||||||
County of Pima Arizona IDA, RB, Arizona Charter Schools Project, Series C, 6.75%, 7/01/31 |
45 | 45,005 | ||||||
|
|
|||||||
851,378 | ||||||||
California 14.9% |
||||||||
California Health Facilities Financing Authority, RB: |
||||||||
St. Joseph Health System, Series A, 5.75%, 7/01/39 |
2,200 | 2,465,320 | ||||||
Sutter Health, Series B, 6.00%, 8/15/42 |
3,170 | 3,643,725 | ||||||
California Health Facilities Financing Authority, |
1,265 | 1,330,932 | ||||||
Municipal Bonds | Par (000) |
Value | ||||||
California (concluded) |
||||||||
California Pollution Control Financing Authority, RB: |
||||||||
County of San Diego California Water Authority Desalination Project Pipeline, 5.00%, 11/21/45 |
$ | 1,230 | $ | 1,144,958 | ||||
Poseidon Resources (Channel Side) LP Desalination Project, AMT, 5.00%, 7/01/37 (b) |
1,025 | 930,372 | ||||||
Poseidon Resources (Channel Side) LP Desalination Project, AMT, 5.00%, 11/21/45 (b) |
2,560 | 2,247,245 | ||||||
California State Public Works Board, RB, Various Capital Projects: |
||||||||
Series I, 5.00%, 11/01/38 |
775 | 805,256 | ||||||
Sub-Series I-1, 6.38%, 11/01/34 |
1,185 | 1,372,100 | ||||||
City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport Series A: |
||||||||
Senior, 5.00%, 5/15/40 |
5,930 | 6,219,503 | ||||||
5.25%, 5/15/39 |
800 | 862,160 | ||||||
City of Stockton California Public Financing Authority, RB, Delta Water Supply Project, Series A, |
360 | 390,254 | ||||||
San Diego Community College District California, GO, Election of 2006, 5.00%, 8/01/43 |
1,085 | 1,154,169 | ||||||
San Marcos Unified School District, GO, CAB, Election of 2010, Series B (c): |
||||||||
0.00%, 8/01/41 |
5,000 | 1,170,600 | ||||||
0.00%, 8/01/42 |
2,000 | 442,940 | ||||||
State of California, GO, Various Purposes: |
||||||||
6.00%, 3/01/33 |
2,525 | 2,953,997 | ||||||
6.50%, 4/01/33 |
14,925 | 17,913,283 | ||||||
Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement, Asset-Backed, |
1,075 | 1,027,764 | ||||||
|
|
|||||||
46,074,578 |
BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 | 1 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Colorado 2.5% |
||||||||
Colorado Health Facilities Authority, RB, Catholic Health Initiatives, Series D, 6.25%, 10/01/33 |
$ | 1,060 | $ | 1,192,330 | ||||
Colorado Health Facilities Authority, Refunding RB, Evangelical Lutheran Good Samaritan Society Project, |
1,000 | 955,850 | ||||||
Colorado State Board of Governors, Refunding RB, State University System Enterprise, Series A, |
1,180 | 1,301,682 | ||||||
Plaza Metropolitan District No. 1, Tax Allocation Bonds, Public Improvement Fee, Tax Increment, |
3,300 | 3,419,229 | ||||||
University of Colorado, RB, |
750 | 883,207 | ||||||
|
|
|||||||
7,752,298 | ||||||||
Connecticut 1.9% |
||||||||
Connecticut State Health & Educational Facility Authority, RB, Ascension Health Senior Credit, |
1,375 | 1,432,351 | ||||||
Connecticut State Health & Educational Facility Authority, Refunding RB, Wesleyan University, |
3,385 | 3,618,261 | ||||||
Mohegan Tribe of Indians of Connecticut, Refunding RB, Public Improvement, Priority Distribution, |
950 | 949,924 | ||||||
|
|
|||||||
6,000,536 | ||||||||
Delaware 1.7% |
||||||||
County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project, |
1,125 | 1,180,440 | ||||||
Delaware State EDA, RB, Exempt Facilities, Indian River Power LLC Project, |
4,065 | 3,988,863 | ||||||
|
|
|||||||
5,169,303 | ||||||||
District of Columbia 2.4% |
||||||||
District of Columbia, Refunding RB, Kipp Charter School, |
240 | 253,409 | ||||||
Municipal Bonds | Par (000) |
Value | ||||||
District of Columbia (concluded) |
||||||||
Metropolitan Washington Airports Authority, Refunding RB: |
||||||||
1st Senior Lien, Series A, |
$ | 1,500 | $ | 1,540,530 | ||||
CAB, 2nd Senior Lien, Series B (AGC), |
6,590 | 2,219,841 | ||||||
CAB, 2nd Senior Lien, Series B (AGC), |
4,830 | 1,508,795 | ||||||
CAB, 2nd Senior Lien, Series B (AGC), |
6,515 | 1,879,708 | ||||||
|
|
|||||||
7,402,283 | ||||||||
Florida 4.9% |
||||||||
County of Hillsborough Florida IDA, RB, National Gypsum Co., Series B, AMT, 7.13%, 4/01/30 |
2,720 | 2,720,408 | ||||||
County of Miami-Dade Florida Aviation, Refunding ARB, Miami International Airport, |
1,165 | 1,216,260 | ||||||
County of Tampa-Hillsborough Florida Expressway Authority, Refunding RB: |
||||||||
Series A, 5.00%, 7/01/37 |
1,515 | 1,577,221 | ||||||
Series B, 5.00%, 7/01/42 |
1,255 | 1,289,663 | ||||||
Fiddlers Creek Community Development District No. 2, Special Assessment Bonds, Series A, |
2,350 | 1,222,611 | ||||||
Mid-Bay Bridge Authority, RB, Springing Lien, |
3,015 | 3,339,143 | ||||||
Midtown Miami Community Development District, Special Assessment Bonds, Series A, |
915 | 915,211 | ||||||
Palm Coast Park Community Development District, Special Assessment Bonds, 5.70%, 5/01/37 |
1,155 | 733,390 | ||||||
Village Community Development District No. 10, Special Assessment Bonds, 5.13%, 5/01/43 |
2,480 | 2,321,379 | ||||||
|
|
|||||||
15,335,286 | ||||||||
Georgia 3.2% |
||||||||
DeKalb Private Hospital Authority, Refunding RB, Childrens Healthcare, 5.25%, 11/15/39 |
130 | 134,911 |
2 | BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Georgia (concluded) |
||||||||
Fulton County Residential Care Facilities for the Elderly Authority, Refunding RB, Canterbury Court Project, Series A, 6.13%, 2/15/26 |
$ | 2,000 | $ | 2,012,460 | ||||
Metropolitan Atlanta Rapid Transit Authority, RB, Sales Tax, 3rd Indenture, Series A, 5.00%, 7/01/39 |
3,465 | 3,628,687 | ||||||
Municipal Electric Authority of Georgia, Refunding RB: |
||||||||
Series W, 6.60%, 1/01/18 |
3,120 | 3,453,715 | ||||||
Series X, 6.50%, 1/01/20 |
730 | 845,545 | ||||||
|
|
|||||||
10,075,318 | ||||||||
Hawaii 0.5% |
||||||||
State of Hawaii Harbor System, RB, Series A, 5.25%, 7/01/30 |
1,355 | 1,473,942 | ||||||
Illinois 19.4% |
||||||||
City of Chicago Illinois, GARB, OHare International Airport, 3rd Lien, Series C, 6.50%, 1/01/41 |
5,865 | 6,682,288 | ||||||
City of Chicago Illinois, GO, Project, Series A, 5.00%, 1/01/34 |
4,535 | 4,534,819 | ||||||
City of Chicago Illinois, Refunding RB, Sales Tax, Series A, 5.25%, 1/01/38 |
820 | 850,594 | ||||||
City of Chicago Illinois, Special Assessment Bonds, Lake Shore East, 6.75%, 12/01/32 |
800 | 810,928 | ||||||
City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/40 |
1,050 | 1,081,164 | ||||||
City of Chicago Illinois Waterworks, Refunding RB, 2nd Lien: |
||||||||
Project, 5.00%, 11/01/42 |
3,780 | 3,801,017 | ||||||
Water Project (AGM), 5.25%, 11/01/33 |
1,325 | 1,373,283 | ||||||
County of Cook Illinois Community College District No. 508, GO, City College of Chicago, 5.50%, 12/01/38 |
805 | 864,377 | ||||||
Illinois Finance Authority, RB: |
||||||||
Advocate Health Care Network, Series D, 6.50%, 11/01/38 |
5,000 | 5,673,850 | ||||||
Community Rehabilitation Providers Facilities, Series A, 6.50%, 7/01/22 |
285 | 277,086 | ||||||
Municipal Bonds | Par (000) |
Value | ||||||
Illinois (concluded) |
||||||||
Illinois Finance Authority, Refunding RB, Central Dupage Health, Series B, 5.50%, 11/01/39 |
$ | 1,610 | $ | 1,733,052 | ||||
Illinois State Toll Highway Authority, RB, Series A, 5.00%, 1/01/38 |
2,315 | 2,382,019 | ||||||
Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project: |
||||||||
Series B (AGM), 5.00%, 6/15/50 |
3,080 | 3,080,585 | ||||||
Series B-2, 5.00%, 6/15/50 |
2,500 | 2,450,575 | ||||||
Railsplitter Tobacco Settlement Authority, RB: |
||||||||
5.50%, 6/01/23 |
440 | 492,417 | ||||||
6.00%, 6/01/28 |
1,140 | 1,264,488 | ||||||
Regional Transportation Authority, RB: |
||||||||
Series A (AMBAC), 7.20%, 11/01/20 |
1,065 | 1,253,846 | ||||||
Series A (NPFGC), 6.70%, 11/01/21 |
5,920 | 6,950,790 | ||||||
Series C (NPFGC), 7.75%, 6/01/20 |
2,500 | 3,056,975 | ||||||
State of Illinois, GO, Series A: |
||||||||
5.00%, 4/01/35 |
3,000 | 3,037,230 | ||||||
5.00%, 4/01/38 |
3,640 | 3,655,688 | ||||||
State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/34 |
630 | 658,407 | ||||||
Village of Hodgkins Illinois, RB, Metropolitan Biosolids Management LLC Project, AMT, 6.00%, 11/01/23 |
2,800 | 2,802,100 | ||||||
Village of Wheeling Illinois, Tax Allocation Bonds, North Milwaukee/Lake-Cook TIF Project, 6.00%, 1/01/25 |
1,320 | 1,284,941 | ||||||
|
|
|||||||
60,052,519 | ||||||||
Indiana 5.1% |
||||||||
Carmel Redevelopment Authority, Refunding RB, Multipurpose, Series A: |
||||||||
4.00%, 8/01/35 |
375 | 363,934 | ||||||
4.00%, 2/01/38 |
1,810 | 1,711,047 | ||||||
City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT: |
||||||||
6.75%, 1/01/34 |
790 | 819,996 | ||||||
7.00%, 1/01/44 |
1,905 | 1,990,668 |
BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 | 3 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Indiana (concluded) |
||||||||
Indiana Finance Authority, RB, Series A: |
||||||||
CWA Authority Project, 1st Lien, 5.25%, 10/01/38 |
$ | 3,280 | $ | 3,494,709 | ||||
Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/44 |
450 | 423,877 | ||||||
Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/48 |
1,430 | 1,332,503 | ||||||
Sisters of St. Francis Health Services, 5.25%, 11/01/39 |
840 | 868,963 | ||||||
Indiana Finance Authority, Refunding RB, Parkview Health System, Series A, 5.75%, 5/01/31 |
2,795 | 2,986,150 | ||||||
Indianapolis Local Public Improvement Bond Bank, RB, Series A: |
||||||||
5.00%, 1/15/36 |
395 | 419,589 | ||||||
5.00%, 1/15/40 |
1,270 | 1,335,481 | ||||||
|
|
|||||||
15,746,917 | ||||||||
Iowa 1.7% |
||||||||
Iowa Finance Authority, Refunding RB, Midwestern Disaster Area, Iowa Fertilizer Co. Project: |
||||||||
5.00%, 12/01/19 |
960 | 948,480 | ||||||
5.50%, 12/01/22 |
2,340 | 2,255,807 | ||||||
5.25%, 12/01/25 |
460 | 426,976 | ||||||
Iowa Student Loan Liquidity Corp., Refunding RB, Student Loan, Senior Series A-1, AMT, 5.15%, 12/01/22 |
1,595 | 1,676,680 | ||||||
|
|
|||||||
5,307,943 | ||||||||
Kentucky 0.5% |
||||||||
Kentucky Economic Development Finance Authority, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/45 |
995 | 1,016,990 | ||||||
Kentucky Public Transportation Infrastructure Authority, RB, Downtown Crosing Project, Convertible CAB, 1st Tier, Series C, 0.00%, 7/01/43 (a) |
1,200 | 675,336 | ||||||
|
|
|||||||
1,692,326 | ||||||||
Municipal Bonds | Par (000) |
Value | ||||||
Louisiana 3.9% |
||||||||
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Project, Series A-1, 6.50%, 11/01/35 |
$ | 3,320 | $ | 3,605,985 | ||||
Sabine River Authority Louisiana, Refunding RB, International Paper Co. Project, 6.20%, 2/01/25 |
3,600 | 3,605,580 | ||||||
Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A: |
||||||||
5.50%, 5/15/30 |
1,020 | 1,042,460 | ||||||
5.25%, 5/15/31 |
870 | 873,323 | ||||||
5.25%, 5/15/32 |
1,110 | 1,111,754 | ||||||
5.25%, 5/15/33 |
1,205 | 1,204,181 | ||||||
5.25%, 5/15/35 |
505 | 502,717 | ||||||
|
|
|||||||
11,946,000 | ||||||||
Maryland 1.7% |
||||||||
County of Montgomery Maryland, GO, West Germantown Development District, Series A (Radian), |
1,100 | 1,102,563 | ||||||
Maryland Community Development Administration, Refunding, HRB, Residential, Series D, AMT, |
1,500 | 1,501,635 | ||||||
Maryland EDC, RB, Transportation Facilities Project, |
435 | 444,044 | ||||||
Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 9/01/25 |
1,160 | 1,216,190 | ||||||
Maryland Health & Higher Educational Facilities Authority, RB, University of Maryland Medical System, |
890 | 1,085,444 | ||||||
|
|
|||||||
5,349,876 | ||||||||
Massachusetts 3.4% |
||||||||
Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare System, |
990 | 1,020,245 | ||||||
Massachusetts HFA, RB, AMT: |
||||||||
M/F Housing, Series A, 5.20%, 12/01/37 |
2,830 | 2,847,829 | ||||||
S/F Housing, Series 130, 5.00%, 12/01/32 |
2,720 | 2,746,982 |
4 | BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Massachusetts (concluded) |
||||||||
Massachusetts HFA, Refunding RB, Series F, AMT, |
$ | 2,035 | $ | 2,097,983 | ||||
Massachusetts School Building Authority, RB, Series A: |
||||||||
Dedicated Sales Tax, Senior, 5.00%, 5/15/43 |
1,420 | 1,517,810 | ||||||
(AGM), 5.00%, 8/15/30 |
415 | 438,634 | ||||||
|
|
|||||||
10,669,483 | ||||||||
Michigan 7.7% |
||||||||
City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien: |
||||||||
Series A, 5.00%, 7/01/32 |
1,565 | 1,429,330 | ||||||
Series A, 5.25%, 7/01/39 |
4,425 | 4,083,434 | ||||||
Series B (AGM), 7.50%, 7/01/33 |
910 | 969,887 | ||||||
Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital, 5.50%, 5/15/36 |
1,380 | 1,428,010 | ||||||
Michigan State Hospital Finance Authority, Refunding RB, Series A: |
||||||||
Henry Ford Health System, 5.25%, 11/15/46 |
5,080 | 4,992,015 | ||||||
McLaren Health Care, 5.75%, 5/15/38 |
8,560 | 9,410,436 | ||||||
Royal Oak Hospital Finance Authority, Refunding RB, William Beaumont Hospital, 8.25%, 9/01/39 |
1,400 | 1,700,888 | ||||||
|
|
|||||||
24,014,000 | ||||||||
Mississippi 1.5% |
||||||||
County of Lowndes Mississippi, Refunding RB, Solid Waste Disposal & Pollution Control, Weyerhaeuser Co. Project, Series A, 6.80%, 4/01/22 |
3,000 | 3,449,280 | ||||||
University of Southern Mississippi, RB, Campus Facilities Improvements Project, 5.38%, 9/01/36 |
1,065 | 1,135,396 | ||||||
|
|
|||||||
4,584,676 | ||||||||
Municipal Bonds | Par (000) |
Value | ||||||
Missouri 0.2% |
||||||||
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Refunding RB, Combined Lien, |
$ | 255 | $ | 267,974 | ||||
State of Missouri Health & Educational Facilities Authority, Refunding RB, St. Louis College of Pharmacy Project, |
245 | 252,500 | ||||||
|
|
|||||||
520,474 | ||||||||
Nebraska 0.7% |
||||||||
Central Plains Energy Project Nebraska, RB, Gas Project No. 3, 5.00%, 9/01/42 |
1,445 | 1,446,936 | ||||||
Central Plains Nebraska Energy Project, RB, Gas Project No. 3, 5.25%, 9/01/37 |
825 | 843,835 | ||||||
|
|
|||||||
2,290,771 | ||||||||
New Jersey 4.4% |
||||||||
New Jersey EDA, RB, Continental Airlines, Inc. Project, AMT, 5.25%, 9/15/29 |
1,955 | 1,881,688 | ||||||
New Jersey EDA, Refunding, Special Assessment Bonds, Kapkowski Road Landfill Project, 5.75%, 4/01/31 |
2,240 | 2,319,184 | ||||||
New Jersey Housing & Mortgage Finance Agency, RB, S/F Housing, Series AA, 6.38%, 10/01/28 |
715 | 750,450 | ||||||
New Jersey State Turnpike Authority, RB, Series A, |
1,985 | 2,060,867 | ||||||
New Jersey Transportation Trust Fund Authority, RB, Transportation System: |
||||||||
Series A, 5.50%, 6/15/41 |
1,635 | 1,738,626 | ||||||
Series B, 5.25%, 6/15/36 |
2,460 | 2,615,767 | ||||||
Rutgers The State University of New Jersey, Refunding RB, Series L: |
||||||||
5.00%, 5/01/38 |
505 | 545,723 | ||||||
5.00%, 5/01/43 |
525 | 561,036 | ||||||
Tobacco Settlement Financing Corp. New Jersey, Refunding RB, Series 1A, 4.50%, 6/01/23 |
1,335 | 1,252,390 | ||||||
|
|
|||||||
13,725,731 |
BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 | 5 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
New York 13.8% |
||||||||
City of New York New York Industrial Development Agency, RB: |
||||||||
British Airways PLC Project, AMT, 7.63%, 12/01/32 |
$ | 1,920 | $ | 1,929,274 | ||||
Special Needs Facilities Pooled Program, Series C-1, 6.50%, 7/01/17 |
595 | 593,001 | ||||||
City of New York New York Transitional Finance Authority, RB: |
||||||||
Fiscal 2009, Series S-3, 5.25%, 1/15/39 |
6,700 | 7,217,307 | ||||||
Future Tax Secured Bonds, Fiscal 2012, Sub-Series E-1, 5.00%, 2/01/42 |
2,460 | 2,590,847 | ||||||
Metropolitan Transportation Authority, RB, Series C, 6.50%, 11/15/28 |
9,405 | 11,043,821 | ||||||
New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.25%, 12/15/43 |
10,735 | 11,416,780 | ||||||
New York Liberty Development Corp., Refunding RB, 2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 7/15/49 |
1,220 | 1,304,802 | ||||||
New York State Dormitory Authority, Refunding RB, General Purpose, Series A, 5.00%, 6/15/31 |
1,790 | 1,964,561 | ||||||
Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC Project, Series 8: |
||||||||
6.00%, 12/01/36 |
1,165 | 1,263,174 | ||||||
6.00%, 12/01/42 |
1,250 | 1,353,050 | ||||||
Utility Debt Securitization Authority, Refunding RB, Restructuring, Series E, 5.00%, 12/15/41 |
1,065 | 1,147,506 | ||||||
Westchester County Industrial Development Agency, RB, Special Needs Facilities Pooled Program, Series E-1, 6.50%, 7/01/17 |
850 | 847,399 | ||||||
|
|
|||||||
42,671,522 | ||||||||
Municipal Bonds | Par (000) |
Value | ||||||
North Carolina 1.8% |
||||||||
County of Gaston Industrial Facilities & Pollution Control Financing Authority, RB, Exempt Facilities, National Gypsum Co. Project, AMT, 5.75%, 8/01/35 |
$ | 1,675 | $ | 1,495,088 | ||||
North Carolina Medical Care Commission, RB, Health Care Facilities, Duke University Health System, Series A, 5.00%, 6/01/42 |
1,400 | 1,490,398 | ||||||
North Carolina Medical Care Commission, Refunding RB: |
||||||||
Carolina Village Project, 6.00%, 4/01/38 |
2,000 | 2,004,900 | ||||||
Retirement Facilities, 1st Mortgage, Whitestone Project, Series A, 7.75%, 3/01/41 |
595 | 631,105 | ||||||
|
|
|||||||
5,621,491 | ||||||||
Ohio 0.2% |
||||||||
County of Franklin Ohio, RB, Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A, 6.13%, 7/01/40 |
660 | 665,240 | ||||||
Pennsylvania 1.0% |
||||||||
City of Philadelphia Pennsylvania Industrial Development, RB, Commercial Development, AMT, 7.75%, 12/01/17 |
1,265 | 1,268,150 | ||||||
Pennsylvania Economic Development Financing Authority, RB, Aqua Pennsylvania, Inc. Project, Series B, |
1,890 | 1,941,446 | ||||||
|
|
|||||||
3,209,596 | ||||||||
South Carolina 1.1% |
||||||||
South Carolina State Ports Authority, RB, 5.25%, 7/01/40 |
3,280 | 3,439,867 | ||||||
Tennessee 0.5% |
||||||||
City of Chattanooga Tennessee Health Educational & Housing Facility Board, RB, Catholic Health Initiatives, Series A, 5.25%, 1/01/45 |
1,380 | 1,410,498 | ||||||
Texas 9.5% |
||||||||
Brazos River Authority, Refunding RB, Texas Utility Co., Series A, AMT, 7.70%, 4/01/33 (e)(f) |
1,500 | 41,250 |
6 | BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds | Par (000) |
Value | ||||||
Texas (continued) |
||||||||
Central Texas Regional Mobility Authority, |
||||||||
Senior Lien, 6.25%, 1/01/46 |
$ | 2,140 | $ | 2,239,317 | ||||
Sub-Lien, 5.00%, 1/01/33 |
355 | 333,004 | ||||||
Sub-Lien, 5.00%, 1/01/42 |
315 | 282,741 | ||||||
City of Dallas Texas Waterworks & Sewer System, Refunding RB, 5.00%, 10/01/35 |
510 | 553,926 | ||||||
City of Houston Texas, RB, Special Facilities, Continental Airlines, Inc., Series E, AMT, 6.75%, 7/01/21 |
4,820 | 4,820,048 | ||||||
Clifton Higher Education Finance Corp., RB, Idea Public Schools, 6.00%, 8/15/43 |
745 | 784,776 | ||||||
County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian Homes, Inc. Project, Series B, 7.00%, 1/01/48 |
455 | 459,764 | ||||||
County of Harris Texas Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System, Series B, 7.25%, 12/01/18 (d) |
2,000 | 2,575,700 | ||||||
County of Matagorda Texas Navigation District No. 1, Refunding RB, AEP Texas Central Co. Project, |
1,080 | 981,752 | ||||||
Dallas-Fort Worth International Airport, Refunding ARB, Joint Improvement, Series E, AMT, 5.00%, 11/01/35 |
1,800 | 1,813,194 | ||||||
Fort Bend County Industrial Development Corp., RB, NRG Energy Project, Series B, 4.75%, 11/01/42 |
1,475 | 1,310,184 | ||||||
North Texas Tollway Authority, Refunding RB, 1st Tier, Series A, 6.25%, 1/01/39 |
7,000 | 7,805,420 | ||||||
Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: |
||||||||
LBJ Infrastructure Group LLC, LBJ Freeway Managed Lanes Project, 7.00%, 6/30/40 |
2,000 | 2,209,640 | ||||||
Municipal Bonds | Par (000) |
Value | ||||||
Texas (concluded) |
||||||||
Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien (concluded): |
||||||||
NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project, 6.88%, 12/31/39 |
$ | 3,000 | $ | 3,274,470 | ||||
|
|
|||||||
29,485,186 | ||||||||
Utah 0.9% |
||||||||
City of Riverton Utah, RB, IHC Health Services, Inc., |
2,780 | 2,869,433 | ||||||
Virginia 2.8% |
||||||||
County of Fairfax Virginia EDA, Refunding RB, Goodwin House, Inc.: |
||||||||
5.13%, 10/01/37 |
500 | 504,700 | ||||||
5.13%, 10/01/42 |
3,440 | 3,463,151 | ||||||
Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings LLC Project, AMT: |
||||||||
5.25%, 1/01/32 |
1,615 | 1,614,919 | ||||||
6.00%, 1/01/37 |
2,915 | 3,045,913 | ||||||
|
|
|||||||
8,628,683 | ||||||||
Washington 2.1% |
||||||||
Washington Health Care Facilities Authority, RB, Catholic Health Initiatives, Series A, 5.75%, 1/01/45 |
2,290 | 2,439,354 | ||||||
Washington Health Care Facilities Authority, Refunding RB, Catholic Health Initiatives, Series D, |
3,700 | 4,183,442 | ||||||
|
|
|||||||
6,622,796 | ||||||||
Wisconsin 3.4% |
||||||||
State of Wisconsin, Refunding RB, Series A, |
7,100 | 7,982,885 | ||||||
State of Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, |
2,465 | 2,597,617 | ||||||
|
|
|||||||
10,580,502 | ||||||||
Total Municipal Bonds 123.2% | 382,191,347 |
BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 | 7 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
Par (000) |
Value | ||||||
California 6.5% |
||||||||
Bay Area Toll Authority, Refunding RB, San Francisco Bay Area, Series F-1, 5.63%, 4/01/44 |
$ | 3,271 | $ | 3,539,997 | ||||
California Educational Facilities Authority, RB, University of Southern California, Series B, |
2,610 | 2,855,523 | ||||||
City & County of San Francisco California Public Utilities Commission, RB, Water Revenue, Series B, |
9,480 | 10,092,692 | ||||||
Los Angeles Community College District California, GO, Election of 2001, Series A (AGM), 5.00%, 8/01/32 |
2,290 | 2,453,643 | ||||||
San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33 |
1,077 | 1,208,824 | ||||||
|
|
|||||||
20,150,679 | ||||||||
Colorado 0.8% |
||||||||
Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series
A, |
2,129 | 2,362,329 | ||||||
Connecticut 2.1% |
||||||||
Connecticut State Health & Educational Facility Authority, RB, Yale University,
Series Z-3, |
6,000 | 6,488,820 | ||||||
Florida 1.9% |
||||||||
County of Miami-Dade Florida, RB, Water & Sewer System, 5.00%, 10/01/34 |
5,679 | 5,998,142 | ||||||
Illinois 1.0% |
||||||||
State of Illinois Toll Highway Authority, RB, Senior Priority, Series B, 5.50%, 1/01/33 |
2,999 | 3,257,269 | ||||||
Maryland 0.8% |
||||||||
Maryland State Transportation Authority, RB, Transportation Facilities Project
(AGM), |
2,290 | 2,435,507 | ||||||
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
Par (000) |
Value | ||||||
Massachusetts 0.8% |
||||||||
Massachusetts School Building Authority, RB, Senior, |
$ | 2,266 | $ | 2,406,868 | ||||
New Hampshire 0.7% |
||||||||
New Hampshire Health & Education Facilities Authority, RB, Dartmouth
College, |
2,009 | 2,231,100 | ||||||
New York 5.5% |
||||||||
City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System 2nd General Resolution: |
||||||||
Series DD, 5.00%, 6/15/37 |
6,299 | 6,623,981 | ||||||
Series FF-2, 5.50%, 6/15/40 |
1,575 | 1,695,760 | ||||||
Hudson Yards Infrastructure Corp., RB, Fiscal 2012, |
1,610 | 1,739,608 | ||||||
New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, |
6,440 | 6,945,926 | ||||||
|
|
|||||||
17,005,275 | ||||||||
North Carolina 2.1% |
||||||||
North Carolina Capital Facilities Finance Agency, Refunding RB, Duke University Project,
Series A, |
6,239 | 6,536,821 | ||||||
Ohio 5.7% |
||||||||
Ohio Higher Educational Facility Commission, RB, |
2,400 | 2,576,640 | ||||||
State of Ohio, Refunding RB, Cleveland Clinic Health |
13,843 | 15,280,302 | ||||||
|
|
|||||||
17,856,942 | ||||||||
South Carolina 1.8% |
||||||||
State of South Carolina Public Service Authority, Refunding RB, Santee Cooper, Series
A, |
4,995 | 5,501,743 | ||||||
Texas 4.3% |
||||||||
City of San Antonio Texas Public Service Board, RB, Electric & Gas Systems, Junior Lien, 5.00%, 2/01/43 |
3,150 | 2,642,825 |
8 | BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) (Percentages shown are based on Net Assets) |
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g) |
Par (000) |
Value | ||||||
Texas (concluded) |
||||||||
County of Harris Texas Metropolitan Transit Authority, Refunding RB, Series A, 5.00%, 11/01/41 |
$ | 3,400 | $ | 3,605,836 | ||||
Texas Department of Housing & Community Affairs, RB, S/F Mortgage, Series B, AMT (Ginnie Mae), 5.25%, 9/01/32 |
2,131 | 2,172,538 | ||||||
Texas State University, Refunding RB, (AGM), 5.00%, 3/15/30 |
2,743 | 2,905,324 | ||||||
University of Texas, Refunding RB, Financing System, Series B, 5.00%, 8/15/43 |
1,830 | 1,960,274 | ||||||
|
|
|||||||
13,286,797 | ||||||||
Washington 5.8% |
||||||||
Central Puget Sound Regional Transit Authority, RB, Series A: |
||||||||
5.00%, 11/01/34 |
5,000 | 5,364,900 | ||||||
5.00%, 11/01/36 |
4,000 | 4,291,920 | ||||||
(AGM), 5.00%, 11/01/32 |
7,693 | 8,227,330 | ||||||
|
|
|||||||
17,884,150 | ||||||||
Wisconsin 0.8% |
||||||||
Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., Obligated Group, Series C, 5.25%, 4/01/39 (h) |
2,499 | 2,590,420 | ||||||
Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts 40.6% |
125,992,862 | |||||||
Total Long-Term Investments (Cost $481,576,159) 163.8% |
508,184,209 | |||||||
Short-Term Securities |
Par (000) |
Value | ||||||
Tennessee 0.1% |
||||||||
Shelby County Health Educational & Housing Facilities Board, Refunding RB, VRDN, Methodist Le Bonheur Healthcare, Series B (US Bank NA SBPA), 0.10%, 2/03/14 (i) |
$ | 300 | $ | 300,000 | ||||
Shares | ||||||||
Money Market Funds 1.5% |
||||||||
FFI Institutional Tax-Exempt Fund, 0.03% (j)(k) |
4,629,351 | 4,629,351 | ||||||
Total Short-Term Securities (Cost $4,929,351) 1.6% |
|
4,929,351 | ||||||
Total Investments (Cost $486,505,510*) 165.4% | 513,113,560 | |||||||
Other Assets Less Liabilities 1.8% | 5,788,967 | |||||||
Liability for TOB Trust Certificates, Including Interest |
|
(68,649,656 | ) | |||||
VMTP Shares, at Liquidation Value (45.1%) | (140,000,000 | ) | ||||||
|
|
|||||||
Net Assets Applicable to Common Shares 100.0% | $ | 310,252,871 | ||||||
|
|
* | As of January 31, 2014, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: |
Tax cost |
$ | 418,181,575 | ||
|
|
|||
Gross unrealized appreciation |
$ | 33,873,783 | ||
Gross unrealized depreciation |
(7,579,985 | ) | ||
|
|
|||
Net unrealized appreciation |
$ | 26,293,798 | ||
|
|
Notes to Schedule of Investments |
(a) | Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date. |
(b) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(c) | Zero-coupon bond. |
(d) | 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. |
(e) | Non-income producing security. |
(f) | Issuer filed for bankruptcy and/or is in default of principal and/or interest payments. |
(g) | Represent bonds transferred to a TOB. In exchange for which the Fund acquired residual interest certificates. These bonds serve as collateral in a financing transaction. |
(h) | All or a portion of security is subject to a recourse agreement, which may require the Fund to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire from October 1, 2016 to November 15, 2019, is $13,378,781. |
(i) | Variable rate security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through demand. |
BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 | 9 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) |
(j) | Investments in issuers considered to be an affiliate of the Fund during the period ended January 31, 2014, for purposes of Section 2(a)(3) of the 1940 Act, were as follows: |
Affiliate | Shares Held at April 30, 2013 |
Net Activity |
Shares Held at January 31, 2014 |
Income | ||||||||||||
FFI Institutional Tax-Exempt Fund |
5,335,715 | (706,364 | ) | 4,629,351 | $ | 1,191 |
(k) | Represents the current yield as of report date. |
Portfolio Abbreviations |
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list: | AGC | Assured Guarantee Corp. | HFA | Housing Finance Agency | ||||
AGM | Assured Guaranty Municipal Corp. | HRB | Housing Revenue Bonds | |||||
AMBAC | American Municipal Bond Assurance Corp. | IDA | Industrial Development Authority | |||||
AMT | Alternative Minimum Tax (subject to) | NPFGC | National Public Finance Guarantee Corp. | |||||
ARB | Airport Revenue Bonds | Radian | Radian Guaranty, Inc. | |||||
CAB | Capital Appreciation Bonds | RB | Revenue Bonds | |||||
EDA | Economic Development Authority | SBPA | Stand-by Bond Purchase Agreements | |||||
EDC | Economic Development Corp. | S/F | Single-Family | |||||
GARB | General Airport Revenue Bonds | VRDN | Variable Rate Demand Notes | |||||
GO | General Obligation Bonds |
10 | BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 |
Schedule of Investments (continued) |
BlackRock MuniVest Fund II, Inc. (MVT) |
| Financial futures contracts outstanding as of January 31, 2014 were as follows: |
Contracts Sold |
Issue | Exchange | Expiration |
Notional Value |
Unrealized Depreciation |
|||||||||||
(288 | ) | 10-Year US Treasury Note | Chicago Board of Trade | March 2014 | $ | 36,216,000 | $ | (381,191 | ) |
| Fair Value Measurements Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows: |
| Level 1 unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access |
| Level 2 other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
| Level 3 unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Funds own assumptions used in determining the fair value of investments and derivative financial instruments) |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Funds policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Funds policy regarding valuation of investments and derivative financial instruments, please refer to the Funds most recent financial statements as contained in its semi-annual report.
The following tables summarize the Funds investments and derivative financial instruments categorized in the disclosure hierarchy as of January 31, 2014:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: |
| |||||||||||||||
Investments: | ||||||||||||||||
Long-Term Investments 1 |
| $ | 508,184,209 | | $ | 508,184,209 | ||||||||||
Short-Term Securities |
$ | 4,629,351 | 300,000 | | 4,929,351 | |||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 4,629,351 | $ | 508,484,209 | | $ | 513,113,560 | |||||||||
|
|
|
|
|
|
|
|
|||||||||
1 See above Schedule of Investments for values in each state or political subdivision. |
| |||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Derivative Financial Instruments 2 | ||||||||||||||||
Liabilities: |
||||||||||||||||
Interest rate contracts |
$ | (381,191 | ) | | | $ | (381,191 | ) | ||||||||
2 Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
|
BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 | 11 |
Schedule of Investments (concluded) | BlackRock MuniVest Fund II, Inc. (MVT) |
The carrying amount for certain of the Funds assets and/or liabilities approximates fair value for financial reporting purposes. As of January 31, 2014, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: |
||||||||||||||||
Cash pledged for financial futures contracts |
$ | 465,000 | | | $ | 465,000 | ||||||||||
Liabilities: |
||||||||||||||||
TOB trust certificate |
| $ | (68,638,187 | ) | | (68,638,187 | ) | |||||||||
VMTP Shares |
| (140,000,000 | ) | | (140,000,000 | ) | ||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total |
$ | 465,000 | $ | (208,638,187 | ) | | $ | (208,173,187 | ) | |||||||
|
|
|
|
|
|
|
|
There were no transfers between levels during the period ended January 31, 2014.
12 | BLACKROCK MUNIVEST FUND II, INC. | JANUARY 31, 2014 |
Item 2 | Controls and Procedures | |
2(a) |
The registrants principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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, 2014
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, 2014 |
||||
By: |
/s/ NEAL J. ANDREWS |
|||
Neal J. Andrews | ||||
Chief Financial Officer (principal financial officer) of BlackRock MuniVest Fund II, Inc. |
Date: March 25, 2014