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 811-06499 Name of Fund: BlackRock MuniYield California Fund, Inc. (MYC) Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809 Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock MuniYield California Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011 Registrants telephone number, including area code: (800) 882-0052, Option 4 Date of fiscal year end: 07/31/2009 Date of reporting period: 08/01/2008 10/31/2008 Item 1 Schedule of Investments |
BlackRock MuniYield California Fund, Inc. | ||||||||||||
Schedule of Investments October 31, 2008 (Unaudited) | (Percentages shown are based on Net Assets) | |||||||||||
|
| |||||||||||
Par | ||||||||||||
Municipal Bonds | (000) | Value | ||||||||||
|
|
|
|
|
|
| ||||||
California - 124.8% | ABAG Finance Authority for Nonprofit Corporations, | |||||||||||
California, Revenue Refunding Bonds (Redwood Senior | ||||||||||||
Homes and Services), 6%, 11/15/22 | $ 1,730 | $ 1,601,599 | ||||||||||
|
|
| ||||||||||
Anaheim, California, Public Financing Authority, Electric | ||||||||||||
System Distribution Facilities Revenue Bonds, Series A, 5%, | ||||||||||||
10/01/31 (a) | 9,000 | 8,188,470 | ||||||||||
|
|
|
|
| ||||||||
Arcata, California, Joint Powers Financing Authority, Tax | ||||||||||||
Allocation Revenue Refunding Bonds (Community | ||||||||||||
Development Project Loan), Series A, 6%, 8/01/23 (b) | 2,630 | 2,633,813 | ||||||||||
|
|
| ||||||||||
Bay Area Toll Authority, California, Toll Bridge Revenue | ||||||||||||
Refunding Bonds (San Francisco Bay Area), Series F, 5%, | ||||||||||||
4/01/31 | 7,500 | 6,933,300 | ||||||||||
|
|
|
|
| ||||||||
California HFA, Home Mortgage Revenue Bonds, VRDN, | ||||||||||||
AMT, Series P, 8.50%, 2/01/27 (c)(d)(e) | 10,000 | 10,000,000 | ||||||||||
|
|
| ||||||||||
California Health Facilities Financing Authority Revenue | ||||||||||||
Bonds (Kaiser Permanente), Series A, 5.50%, | ||||||||||||
6/01/22 (a)(f) | 10,000 | 10,214,000 | ||||||||||
|
|
|
|
| ||||||||
California Health Facilities Financing Authority Revenue | ||||||||||||
Bonds (Sutter Health), Series A, 5.25%, 11/15/46 | 10,000 | 8,201,300 | ||||||||||
|
|
| ||||||||||
California Infrastructure and Economic Development Bank | ||||||||||||
Revenue Bonds (J. David Gladstone Institute Project), | ||||||||||||
5.50%, 10/01/22 | 4,990 | 4,820,390 | ||||||||||
|
|
|
|
| ||||||||
California Pollution Control Financing Authority, Solid | ||||||||||||
Waste Disposal Revenue Bonds (Republic Services, Inc. | ||||||||||||
Project), AMT, Series B, 5.25%, 6/01/23 | 2,700 | 2,094,552 | ||||||||||
|
|
| ||||||||||
California Pollution Control Financing Authority, Solid | ||||||||||||
Waste Disposal Revenue Bonds (Waste Management, Inc. | ||||||||||||
Project), AMT, Series A-2, 5.40%, 4/01/25 | 3,000 | 2,180,400 | ||||||||||
|
|
| ||||||||||
California Pollution Control Financing Authority, Solid | ||||||||||||
Waste Disposal Revenue Bonds (Waste Management, Inc. | ||||||||||||
Project), AMT, Series C, 5.125%, 11/01/23 | 4,500 | 3,212,325 | ||||||||||
|
|
| ||||||||||
California Pollution Control Financing Authority, Solid | ||||||||||||
Waste Disposal Revenue Refunding Bonds (Republic | ||||||||||||
Services, Inc. Project), AMT, Series C, 5.25%, 6/01/23 | 2,000 | 1,551,520 | ||||||||||
|
|
| ||||||||||
California Rural Home Mortgage Finance Authority, S/F | ||||||||||||
Mortgage Revenue Bonds (Mortgage-Backed Securities | ||||||||||||
Program), AMT, Series A, 5.40%, 12/01/36 (g)(h)(i) | 1,855 | 1,628,634 | ||||||||||
|
|
| ||||||||||
California Rural Home Mortgage Finance Authority, S/F | ||||||||||||
Mortgage Revenue Bonds (Mortgage-Backed Securities | ||||||||||||
Program), AMT, Series B, 6.15%, 6/01/20 (h)(i) | 30 | 30,457 | ||||||||||
|
|
|
|
| ||||||||
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 list below. | ||||||||||||
AMT | Alternative Minimum Tax (subject to) | IDR | Industrial Development Revenue Bonds | |||||||||
COP | Certificates of Participation | M/F | Multi-Family | |||||||||
GO | General Obligation Bonds | S/F | Single-Family | |||||||||
HFA | Housing Finance Agency | VRDN | Variable Rate Demand Notes |
1
BlackRock MuniYield California Fund, Inc. | ||||||
Schedule of Investments October 31, 2008 (Unaudited) | (Percentages shown are based on Net Assets) | |||||
|
| |||||
Par | ||||||
Municipal Bonds | (000) | Value | ||||
|
|
|
| |||
California Rural Home Mortgage Finance Authority, S/F | ||||||
Mortgage Revenue Bonds (Mortgage-Backed Securities | ||||||
Program), AMT, Sub-Series FH-1, 5.50%, 8/01/47 | $ 415 | $ 341,520 | ||||
|
|
| ||||
California State Department of Water Resources, Water | ||||||
System Revenue Refunding Bonds (Central Valley Project), | ||||||
Series AE, 5%, 12/01/28 | 6,000 | 5,736,060 | ||||
|
|
|
| |||
California State Enterprise Authority, Sewer Facility Revenue | ||||||
Bonds (Anheuser-Busch Project), AMT, 5.30%, 9/01/47 | 2,500 | 1,761,250 | ||||
|
|
| ||||
California State, GO, 5.50%, 4/01/30 | 5 | 4,865 | ||||
|
|
|
| |||
California State, GO, Refunding (Veterans), AMT, Series | ||||||
BJ, 5.70%, 12/01/32 | 2,785 | 2,459,573 | ||||
|
|
|
| |||
California State Public Works Board, Lease Revenue Bonds | ||||||
(Department of Corrections), Series C, 5.50%, 6/01/23 | 5,000 | 5,019,500 | ||||
|
|
| ||||
California Statewide Communities Development Authority, | ||||||
COP (John Muir/Mount Diablo Health System), 5.125%, | ||||||
8/15/22 (d) | 5,250 | 5,328,750 | ||||
|
|
|
| |||
California Statewide Communities Development Authority, | ||||||
Health Facility Revenue Bonds (Memorial Health Services), | ||||||
Series A, 6%, 10/01/23 | 3,270 | 3,173,666 | ||||
|
|
|
| |||
California Statewide Communities Development Authority, | ||||||
Health Facility Revenue Bonds (Memorial Health Services), | ||||||
Series A, 5.50%, 10/01/33 | 3,000 | 2,531,520 | ||||
|
|
|
| |||
California Statewide Communities Development Authority | ||||||
Revenue Bonds (Catholic Healthcare West), Series D, | ||||||
5.50%, 7/01/31 | 5,000 | 4,432,350 | ||||
|
|
|
| |||
California Statewide Communities Development Authority | ||||||
Revenue Bonds (Daughters of Charity National Health | ||||||
System), Series A, 5.25%, 7/01/30 | 3,665 | 2,646,790 | ||||
|
|
|
| |||
California Statewide Communities Development Authority, | ||||||
Revenue Refunding Bonds (Kaiser Hospital Asset | ||||||
Management, Inc.), Series C, 5.25%, 8/01/31 | 6,975 | 5,916,683 | ||||
|
|
| ||||
California Statewide Communities Development Authority, | ||||||
Revenue Refunding Bonds (Kaiser Permanente), Series A, | ||||||
5%, 4/01/31 | 3,500 | 2,895,410 | ||||
|
|
|
| |||
California Statewide Communities Development Authority, | ||||||
Water Revenue Bonds (Pooled Financing Program), Series | ||||||
C, 5.25%, 10/01/28 (a) | 2,380 | 2,297,247 | ||||
|
|
|
| |||
Chino Basin, California, Desalter Authority, Revenue | ||||||
Refunding Bonds, Series A, 5%, 6/01/35 (j) | 5,280 | 4,743,658 | ||||
|
|
| ||||
Chino Basin, California, Regional Financing Authority, | ||||||
Revenue Refunding Bonds (Inland Empire Utility Agency), | ||||||
Series A, 5%, 11/01/33 (b) | 2,015 | 1,774,691 | ||||
|
|
|
| |||
Chula Vista, California, IDR (San Diego Gas and Electric | ||||||
Company), AMT, Series D, 5%, 12/01/27 (b) | 1,500 | 1,177,365 | ||||
|
|
| ||||
Cucamonga, California, County Water District, COP, | ||||||
5.125%, 9/01/35 (d)(k) | 3,750 | 3,225,787 | ||||
|
|
|
| |||
Eastern Municipal Water District, California, Water and | ||||||
Sewer, COP, Series H, 5%, 7/01/35 | 7,540 | 6,614,917 | ||||
|
|
|
|
2
BlackRock MuniYield California Fund, Inc. | ||||||
Schedule of Investments October 31, 2008 (Unaudited) | (Percentages shown are based on Net Assets) | |||||
|
| |||||
Par | ||||||
Municipal Bonds | (000) | Value | ||||
|
|
|
| |||
El Monte, California, Unified School District, GO (Election | ||||||
of 2002), Series C, 5.25%, 6/01/32 (a) | $ 10,120 | $ 9,671,684 | ||||
|
|
|
| |||
Fontana Unified School District, California, GO, Series A, | ||||||
5.25%, 8/01/28 (a) | 7,000 | 6,889,540 | ||||
|
|
|
| |||
Grant Joint Union High School District, California, GO | ||||||
(Election of 2006), 5%, 8/01/29 (a) | 9,390 | 8,834,581 | ||||
|
|
|
| |||
La Quinta, California, Financing Authority, Local Agency | ||||||
Revenue Bonds, Series A, 5.125%, 9/01/34 (b) | 6,020 | 5,239,928 | ||||
|
|
| ||||
Long Beach, California, Harbor Revenue Bonds, AMT, | ||||||
Series A, 5.25%, 5/15/23 (k) | 5,195 | 4,668,487 | ||||
|
|
|
| |||
Los Angeles, California, COP (Sonnenblick Del Rio West Los | ||||||
Angeles), 6.20%, 11/01/31 (b) | 2,000 | 2,015,740 | ||||
|
|
|
| |||
Los Angeles, California, Wastewater System Revenue | ||||||
Refunding Bonds, Sub-Series A, 5%, 6/01/27 (d) | 4,500 | 4,239,945 | ||||
|
|
| ||||
Los Angeles County, California, Metropolitan Transportation | ||||||
Authority, Sales Tax Revenue Refunding Bonds, Proposition A, | ||||||
First Tier Senior-Series A, 5%, 7/01/27 (b) | 3,780 | 3,611,828 | ||||
|
|
|
| |||
Los Angeles County, California, Metropolitan Transportation | ||||||
Authority, Sales Tax Revenue Refunding Bonds, Proposition C, | ||||||
VRDN, Second Senior Series A, 8%, 7/01/20 (c)(d)(e) | 10,000 | 10,000,000 | ||||
|
|
| ||||
Los Angeles County, California, Sanitation Districts | ||||||
Financing Authority, Revenue Refunding Bonds (Capital | ||||||
Projects - District Number 14), Sub-Series B, | ||||||
5%, 10/01/30 (d)(k) | 2,550 | 2,221,586 | ||||
|
|
|
| |||
Marin, California, Community College District, GO | ||||||
(Election of 2004), Series A, 5%, 8/01/28 (d) | 5,885 | 5,485,762 | ||||
|
|
| ||||
Metropolitan Water District of Southern California, | ||||||
Waterworks Revenue Bonds, Series A, 5%, 7/01/30 (a) | 1,000 | 950,430 | ||||
|
|
| ||||
Metropolitan Water District of Southern California, | ||||||
Waterworks Revenue Bonds, Series A, 5%, 7/01/32 | 1,240 | 1,159,946 | ||||
|
|
| ||||
Metropolitan Water District of Southern California, | ||||||
Waterworks Revenue Refunding Bonds, Series B, 5%, 7/01/35 | 2,625 | 2,445,791 | ||||
|
|
| ||||
Modesto, California, Irrigation District, COP, Series B, | ||||||
5.50%, 7/01/35 | 3,300 | 3,024,285 | ||||
|
|
|
| |||
Morgan Hill, California, Unified School District, GO, 5%, | ||||||
8/01/26 (f)(k)(l) | 7,570 | 2,781,899 | ||||
|
|
|
| |||
Mount Diablo, California, Unified School District, GO | ||||||
(Election of 2002), 5%, 6/01/28 (d) | 2,000 | 1,885,500 | ||||
|
|
|
| |||
Murrieta Valley, California, Unified School District, Public | ||||||
Financing Authority, Special Tax Revenue Bonds, Series A, | ||||||
5.125%, 9/01/26 (j) | 6,675 | 6,163,895 | ||||
|
|
|
| |||
Oakland, California, Alameda County Unified School | ||||||
District, GO (Election of 2000), 5%, 8/01/27 (d) | 6,240 | 5,601,024 | ||||
|
|
| ||||
Orange County, California, Sanitation District, COP, 5%, | ||||||
2/01/33 (d)(k) | 5,250 | 4,712,663 | ||||
|
|
|
| |||
Oxnard, California, Financing Authority, Wastewater | ||||||
Revenue Bonds (Redwood Trunk Sewer and Headworks | ||||||
Projects), Series A, 5.25%, 6/01/34 (d)(k) | 3,000 | 2,785,020 | ||||
|
|
|
|
3
BlackRock MuniYield California Fund, Inc. | ||||||
Schedule of Investments October 31, 2008 (Unaudited) | (Percentages shown are based on Net Assets) | |||||
|
| |||||
Par | ||||||
Municipal Bonds | (000) | Value | ||||
|
|
|
| |||
Palm Springs, California, Financing Authority, Lease | ||||||
Revenue Refunding Bonds (Convention Center Project), | ||||||
Series A, 5.50%, 11/01/35 (d) | $ 1,000 | $ 959,320 | ||||
|
|
|
| |||
Port of Oakland, California, Revenue Refunding Bonds, | ||||||
AMT, Series L, 5.375%, 11/01/27 (d)(k) | 11,615 | 9,632,203 | ||||
|
|
|
| |||
Rancho Cucamonga, California, Redevelopment Agency, | ||||||
Tax Allocation Refunding Bonds (Rancho Redevelopment | ||||||
Project), 5.25%, 9/01/20 (a) | 4,315 | 4,320,653 | ||||
|
|
|
| |||
Sacramento, California, Municipal Utility District Financing | ||||||
Authority Revenue Bonds (Consumers Project), 5.125%, | ||||||
7/01/29 (d) | 18,500 | 16,140,510 | ||||
|
|
|
| |||
Sacramento County, California, Sanitation District | ||||||
Financing Authority, Revenue Refunding Bonds (County | ||||||
Sanitation District Number 1), 5%, 8/01/35 (d) | 5,375 | 4,820,569 | ||||
|
|
| ||||
San Bernardino, California, Joint Powers Financing | ||||||
Authority, Lease Revenue Bonds (Department of | ||||||
Transportation Lease), Series A, 5.50%, 12/01/20 (d) | 3,000 | 2,941,530 | ||||
|
|
| ||||
San Francisco, California, Bay Area Rapid Transit District, | ||||||
Sales Tax Revenue Refunding Bonds, Series A, | ||||||
5%, 7/01/34 (d) | 5,430 | 4,916,919 | ||||
|
|
|
| |||
San Francisco, California, City and County Airport | ||||||
Commission, International Airport Revenue Refunding | ||||||
Bonds, AMT, 2nd Series, 6.75%, 5/01/19 | 3,475 | 3,518,959 | ||||
|
|
|
| |||
San Jose, California, Airport Revenue Bonds, Series D, 5%, | ||||||
3/01/28 (d) | 4,615 | 4,114,965 | ||||
|
|
|
| |||
San Jose, California, Unified School District, Santa Clara | ||||||
County, GO (Election of 2002), Series B, 5%, 8/01/29 (d)(k) | 1,855 | 1,723,573 | ||||
|
|
| ||||
San Jose-Evergreen, California, Community College | ||||||
District, Capital Appreciation, GO (Election of 2004), | ||||||
Refunding, Series A, 5.12%, 9/01/23 (d)(l) | 10,005 | 4,174,786 | ||||
|
|
|
| |||
San Juan, California, Unified School District, GO (Election | ||||||
of 2002), 5%, 8/01/28 (d) | 5,000 | 4,712,200 | ||||
|
|
|
| |||
San Mateo County, California, Joint Powers Financing | ||||||
Authority, Lease Revenue Refunding Bonds (Youth Services | ||||||
Campus), Series A, 5%, 7/15/33 | 800 | 712,616 | ||||
|
|
|
| |||
Santa Clara County, California, Housing Authority, M/F | ||||||
Housing Revenue Bonds (John Burns Gardens Apartments | ||||||
Project), AMT, Series A, 6%, 8/01/41 | 3,500 | 2,996,875 | ||||
|
|
|
| |||
Santa Clarita, California, Community College District, GO | ||||||
(Election 2001), 5%, 8/01/28 (a) | 2,170 | 2,083,005 | ||||
|
|
|
| |||
Sequoia, California, Union High School District, GO, | ||||||
Refunding, 5%, 7/01/28 (a) | 2,500 | 2,400,050 | ||||
|
|
|
| |||
Shasta-Tehama-Trinity Joint Community College District, | ||||||
California, GO (Election of 2002), Series B, | ||||||
5.25%, 8/01/24 (a) | 1,675 | 1,675,921 | ||||
|
|
|
| |||
South Bayside, California, Waste Management Authority, | ||||||
Waste System Revenue Bonds, 5.75%, 3/01/20 (b) | 2,265 | 2,319,768 | ||||
|
|
| ||||
Southern California HFA, S/F Mortgage Revenue Bonds, | ||||||
AMT, Series A, 5.80%, 12/01/49 (g)(h)(i) | 2,935 | 2,665,978 | ||||
|
|
|
|
4
BlackRock MuniYield California Fund, Inc. | ||||||||
Schedule of Investments October 31, 2008 (Unaudited) | (Percentages shown are based on Net Assets) | |||||||
|
| |||||||
Par | ||||||||
Municipal Bonds | (000) | Value | ||||||
|
|
|
|
| ||||
Stockton, California, Public Financing Authority, Water | ||||||||
Revenue Bonds (Water System Capital Improvement | ||||||||
Projects), Series A, 5%, 10/01/31 (d) | $ 1,600 | $ 1,467,200 | ||||||
|
|
|
| |||||
Taft, California, Public Financing Authority, Lease | ||||||||
Revenue Bonds (Community Correctional Facility), Series | ||||||||
A, 6.05%, 1/01/17 (d) | 3,235 | 3,440,390 | ||||||
|
|
|
| |||||
Torrance, California, Hospital Revenue Refunding Bonds | ||||||||
(Torrance Memorial Medical Center), Series A, 6%, 6/01/22 | 1,310 | 1,276,726 | ||||||
|
|
| ||||||
University of California Revenue Bonds, Series D, 5%, | ||||||||
5/15/32 (d)(k) | 2,500 | 2,218,500 | ||||||
|
|
|
| |||||
University of California Revenue Bonds, Series L, 5%, | ||||||||
5/15/36 | 8,500 | 7,673,630 | ||||||
|
|
|
| |||||
Vacaville, California, Unified School District, GO (Election | ||||||||
of 2001), 5%, 8/01/30 (d) | 4,745 | 4,295,127 | ||||||
|
|
|
| |||||
Ventura, California, Unified School District, GO (Election | ||||||||
of 1997), Series H, 5.125%, 8/01/34 (a) | 1,000 | 930,400 | ||||||
| ||||||||
317,894,269 | ||||||||
|
|
|
|
| ||||
U.S. Virgin Islands - 1.0% | Virgin Islands Government Refinery Facilities, Revenue | |||||||
Refunding Bonds (Hovensa Coker Project), AMT, | ||||||||
6.50%, 7/01/21 | 3,000 | 2,486,820 | ||||||
|
|
|
|
| ||||
Total Municipal Bonds - 125.8% | 320,381,089 | |||||||
|
|
|
|
| ||||
Municipal Bonds Transferred to | ||||||||
Tender Option Bond Trusts (m) | ||||||||
|
|
|
|
| ||||
California - 42.6% | California State University, Systemwide Revenue Bonds, | |||||||
Series A, 5%, 11/01/39 (a) | 4,840 | 4,270,090 | ||||||
|
|
|
| |||||
Contra Costa County, California, Community College | ||||||||
District, GO (Election of 2002), 5%, 8/01/30 (a) | 10,210 | 9,553,803 | ||||||
|
|
| ||||||
Fremont, California, Unified School District, Alameda | ||||||||
County, GO (Election of 2002), Series B, 5%, 8/01/30 (a) | 4,003 | 3,745,597 | ||||||
|
|
| ||||||
Los Angeles, California, Community College District, GO | ||||||||
(Election of 2003), Series E, 5%, 8/01/31 (a) | 10,002 | 9,282,356 | ||||||
|
|
| ||||||
Metropolitan Water District of Southern California, | ||||||||
Waterworks Revenue Bonds, Series A, 5%, 7/01/37 | 20,000 | 18,483,000 | ||||||
|
|
| ||||||
Palomar Pomerado Health Care District, California, GO | ||||||||
(Election of 2004), Series A, 5.125%, 8/01/37 (d) | 18,490 | 17,240,446 | ||||||
|
|
| ||||||
Peralta, California, Community College District, GO | ||||||||
(Election of 2000), Series D, 5%, 8/01/30 (a) | 1,995 | 1,866,781 | ||||||
|
|
| ||||||
San Diego County, California, Water Authority, Water | ||||||||
Revenue Bonds, COP, Series A, 5%, 5/01/31 (a) | 5,010 | 4,580,292 | ||||||
|
|
| ||||||
San Francisco, California, Bay Area Rapid Transit District, | ||||||||
Sales Tax Revenue Refunding Bonds, Series A, | ||||||||
5%, 7/01/30 (d) | 6,000 | 5,565,180 | ||||||
|
|
|
| |||||
Santa Clara County, California, Financing Authority, Lease | ||||||||
Revenue Refunding Bonds, Series L, 5.25%, 5/15/36 | 10,001 | 9,243,472 | ||||||
|
|
| ||||||
Sonoma County, California, Junior College District, GO | ||||||||
(Election 2002), Refunding, Series B, 5%, 8/01/28 (a) | 6,875 | 6,599,580 | ||||||
|
|
| ||||||
University of California, Limited Project Revenue Bonds, | ||||||||
Series B, 5%, 5/15/33 (a) | 8,490 | 7,657,895 | ||||||
|
|
|
|
5
BlackRock MuniYield California Fund, Inc. | ||||||
Schedule of Investments October 31, 2008 (Unaudited) | (Percentages shown are based on Net Assets) | |||||
|
| |||||
Municipal Bonds Transferred to | Par | |||||
Tender Option Bond Trusts (m) | (000) | Value | ||||
|
|
|
| |||
University of California Revenue Bonds, Series L, | ||||||
5%, 5/15/40 | $ 11,600 | $ 10,324,464 | ||||
|
|
|
| |||
Total Municipal Bonds Transferred to Tender | ||||||
Option Bond Trusts - 42.6% | 108,412,956 | |||||
|
|
|
| |||
Total Long-Term Investments | ||||||
(Cost - $476,290,589) - 168.4% | 428,794,045 | |||||
|
|
|
| |||
Short-Term Securities | Shares | |||||
|
|
|
| |||
CMA California Municipal Money Fund, 1.02% (n)(o) | 13,245,205 | 13,245,205 | ||||
|
|
| ||||
Total Short-Term Securities | ||||||
(Cost - $13,245,205) - 5.2% | 13,245,205 | |||||
|
|
|
| |||
Total Investments (Cost - $489,535,794*) - 173.6% | 442,039,250 | |||||
Other Assets Less Liabilities - 1.1% | 2,760,931 | |||||
Liability for Trust Certificates, Including Interest | ||||||
Expense and Fees Payable - (25.0)% | (63,572,051) | |||||
Preferred Shares, at Redemption Value - (49.7)% | (126,560,668) | |||||
|
| |||||
Net Assets Applicable to Common Shares - 100.0% | $ 254,667,462 | |||||
|
* The cost and unrealized appreciation (depreciation) of investments as of October 31, 2008, as computed for federal income tax purposes, were as follows:
Aggregate cost | $ 425,955,506 | |
Gross unrealized appreciation | $ 1,229,845 | |
Gross unrealized depreciation | (48,236,763) | |
Net unrealized depreciation | $ (47,006,918) |
(a) | FSA Insured. |
(b) | AMBAC Insured. |
(c) | Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date. |
(d) | MBIA Insured. |
(e) | Security may have a maturity of more than one year at the time of issuance, but has variable rate and demand features that qualify it as a short-term security. |
(f) | Security is collateralized by Municipal or U.S. Treasury Obligations. |
(g) | FHLMC Collateralized. |
(h) | FNMA Collateralized. |
(i) | GNMA Collateralized. |
(j) | Assured Guaranty Insured. |
(k) | FGIC Insured. |
(l) | Represents a zero-coupon bond. Rate shown is the effective yield at time of purchase. |
(m) | Securities represent bonds transferred to tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction. |
(n) | Represents the current yield as of report date. |
(o) | Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows: |
Net | ||||
Affiliate | Activity | Income | ||
|
|
| ||
CMA California Municipal Money Fund | (1,168,052) | $ 70,528 | ||
|
|
|
6
BlackRock MuniYield California Fund, Inc.
Schedule of Investments October 31, 2008 (Unaudited)
The inputs or methodology 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 October 31, 2008 in determining the fair valuation of the Fund's investments:
Valuation | Investments in | |
Inputs | Securities | |
Level 1 | $ 13,245,205 | |
Level 2 | 428,794,045 | |
Level 3 | - | |
Total | $ 442,039,250 |
7
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 MuniYield California Fund, Inc. By: /s/ Donald C. Burke Donald C. Burke Chief Executive Officer of BlackRock MuniYield California Fund, Inc. Date: December 19, 2008 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/ Donald C. Burke Donald C. Burke Chief Executive Officer (principal executive officer) of BlackRock MuniYield California Fund, Inc. Date: December 19, 2008 By: /s/ Neal J. Andrews Neal J. Andrews Chief Financial Officer (principal financial officer) of BlackRock MuniYield California Fund, Inc. Date: December 19, 2008 |