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: Anne F. Ackerley, 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: 04/30/2010

 

Date of reporting period: 01/31/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments January 31, 2010 (Unaudited)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 2.7%

 

 

 

 

 

 

 

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

 

$

3,500

 

$

2,768,850

 

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

 

 

5,000

 

 

3,953,550

 

Tuscaloosa Special Care Facilities
Financing Authority, RB, Capstone
Village, Series A, 5.88%,
8/01/36 (a)(b)

 

 

2,900

 

 

894,476

 

 

 

 

 

 

 

 

 

 

 

 

 

7,616,876

 

Arizona — 2.1%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

683,710

 

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

 

 

1,940

 

 

1,781,095

 

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

 

 

1,110

 

 

1,121,377

 

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

 

 

485

 

 

467,981

 

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

 

 

1,980

 

 

2,037,321

 

 

 

 

 

 

 

 

 

 

 

 

6,091,484

 

California — 11.3%

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB, St. Joseph
Health System, Series A, 5.75%,
7/01/39

 

 

2,200

 

 

2,266,000

 

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

 

 

1,185

 

 

1,204,635

 

City of Chula Vista California, RB, San
Diego Gas & Electric, Series B, AMT,
5.00%, 12/01/27

 

 

2,500

 

 

2,361,600

 

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

 

 

800

 

 

801,920

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

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

 

$

9,475

 

$

9,664,974

 

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

 

 

14,925

 

 

15,943,034

 

 

 

 

 

 

 

 

 

 

 

 

32,242,163

 

Colorado — 3.2%

 

 

 

 

 

 

 

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

 

 

1,060

 

 

1,167,898

 

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

 

 

120

 

 

128,424

 

Elk Valley Public Improvement Corp.,
RB, Public Improvement Fee, Series A,
7.35%, 9/01/31

 

 

3,025

 

 

2,760,464

 

Elk Valley Public Improvement Corp.,
RB, Public Improvement Fee,
Series B, 7.45%, 9/01/31

 

 

400

 

 

368,804

 

Plaza Metropolitan District No. 1
Colorado, Tax Allocation Bonds, Public
Improvement Fee, Tax Increment,
8.00%, 12/01/25

 

 

3,300

 

 

3,252,942

 

Plaza Metropolitan District No. 1
Colorado, Tax Allocation Bonds,
Subordinate Public Improvement Fee,
Tax Increment, 8.13%, 12/01/25

 

 

820

 

 

769,053

 

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

 

 

750

 

 

845,790

 

 

 

 

 

 

 

 

 

 

 

 

9,293,375

 

Connecticut — 1.4%

 

 

 

 

 

 

 

Connecticut Housing Finance Authority,
RB, Sub-Series C-1, 4.85%, 11/15/34

 

 

2,430

 

 

2,427,035

 

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

 

 

2,000

 

 

1,601,980

 

 

 

 

 

 

 

 

 

 

 

 

4,029,015

 

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

American Capital Access 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.

GNMA

Government National Mortgage Association

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

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010

1


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

District of Columbia — 1.9%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB, CAB, Second Senior
Lien, Series B (AGC), 7.05%,
10/01/33 (c)

 

$

6,590

 

$

1,469,768

 

Metropolitan Washington Airports
Authority, RB, CAB, Second Senior
Lien, Series B (AGC), 7.08%,
10/01/34 (c)

 

 

4,830

 

 

1,008,649

 

Metropolitan Washington Airports
Authority, RB, CAB, Second Senior
Lien, Series B (AGC), 7.10%,
10/01/35 (c)

 

 

6,515

 

 

1,270,490

 

Metropolitan Washington Airports
Authority, RB, First Senior Lien,
Series A, 5.25%, 10/01/44

 

 

1,500

 

 

1,544,610

 

 

 

 

 

 

 

 

 

 

 

 

5,293,517

 

Florida — 6.7%

 

 

 

 

 

 

 

County of Miami-Dade Florida,
Refunding RB, Miami International
Airport, AMT (AGC), 5.00%, 10/01/40

 

 

9,820

 

 

9,304,057

 

County of Miami-Dade, Florida,
Refunding RB, Miami International
Airport, Series A-1, 5.38%, 10/01/41

 

 

1,165

 

 

1,153,525

 

Fiddlers Creek Community Development
District No. 2, Special Assessment
Bonds, Series A, 6.38%,
5/01/35 (a)(b)

 

 

2,350

 

 

935,511

 

Fiddlers Creek Community Development
District No. 2, Special Assessment
Bonds, Series B, 5.75%,
5/01/13 (a)(b)

 

 

400

 

 

159,680

 

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

 

 

3,500

 

 

3,223,640

 

Hillsborough County IDA, RB, National
Gypsum Co., Series B, AMT, 7.13%,
4/01/30

 

 

2,720

 

 

2,094,482

 

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

 

 

915

 

 

776,835

 

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

 

 

1,230

 

 

717,447

 

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

 

 

890

 

 

873,980

 

 

 

 

 

 

 

 

 

 

 

 

19,239,157

 

Georgia — 5.3%

 

 

 

 

 

 

 

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

 

 

845

 

 

848,786

 

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

 

 

2,000

 

 

1,844,020

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Georgia (concluded)

 

 

 

 

 

 

 

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

 

$

600

 

$

369,516

 

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

 

 

3,465

 

 

3,585,963

 

Municipal Electric Authority of Georgia,
RB, Series W, 6.60%, 1/01/18

 

 

5,560

 

 

6,562,857

 

Municipal Electric Authority of Georgia,
RB, Series W, 6.60%, 1/01/18 (d)

 

 

380

 

 

439,003

 

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

 

 

1,250

 

 

1,484,787

 

 

 

 

 

 

 

 

 

 

 

 

15,134,932

 

Guam — 1.0%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A, 6.00%,
11/15/19

 

 

630

 

 

639,815

 

Territory of Guam, GO, Series A, 6.75%,
11/15/29

 

 

1,100

 

 

1,139,215

 

Territory of Guam, GO, Series A, 7.00%,
11/15/39

 

 

1,140

 

 

1,169,880

 

 

 

 

 

 

 

 

 

 

 

 

2,948,910

 

Idaho — 0.0%

 

 

 

 

 

 

 

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

 

 

45

 

 

45,075

 

Illinois — 10.0%

 

 

 

 

 

 

 

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

 

 

145

 

 

149,183

 

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

 

 

800

 

 

733,968

 

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

 

 

1,000

 

 

999,100

 

Illinois Finance Authority, RB, Advocate
Health Care Network, Series D,
6.50%, 11/01/38

 

 

5,000

 

 

5,537,300

 

Illinois Finance Authority, RB,
Community Rehabilitation Providers
Facilities, Series A, 6.50%, 7/01/22

 

 

1,000

 

 

1,001,070

 

Illinois Finance Authority, Refunding RB,
Central DuPage Health, Series B,
5.50%, 11/01/39

 

 

1,610

 

 

1,662,631

 

Illinois Finance Authority, Refunding RB,
Friendship Village Schaumburg,
Series A, 5.63%, 2/15/37

 

 

250

 

 

196,427

 

Regional Transportation Authority, RB,
Series A (AMBAC), 7.20%, 11/01/20

 

 

1,500

 

 

1,844,610

 

Regional Transportation Authority, RB,
Series A (NPFGC), 6.70%, 11/01/21

 

 

7,000

 

 

8,460,480

 

Regional Transportation Authority, RB,
Series C (NPFGC), 7.75%, 6/01/20

 

 

2,500

 

 

3,200,075

 

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

 

 

630

 

 

649,253

 

 

 

 

2

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

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

 

$

2,800

 

$

2,801,260

 

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

 

 

1,550

 

 

1,377,578

 

 

 

 

 

 

 

 

 

 

 

 

28,612,935

 

Indiana — 7.3%

 

 

 

 

 

 

 

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

 

 

840

 

 

849,517

 

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

 

 

3,280

 

 

3,181,141

 

Indiana Finance Authority, Refunding
RB, Parkview Health System, Series A,
5.75%, 5/01/31

 

 

3,295

 

 

3,370,587

 

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

 

 

500

 

 

467,125

 

Indiana Transportation Finance
Authority, RB, Series A, 7.25%,
6/01/15

 

 

320

 

 

336,871

 

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

 

 

3,775

 

 

4,357,709

 

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

 

 

7,450

 

 

8,236,720

 

 

 

 

 

 

 

 

 

 

 

 

20,799,670

 

Louisiana — 4.2%

 

 

 

 

 

 

 

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

 

 

8,500

 

 

8,420,355

 

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

 

 

3,600

 

 

3,640,176

 

 

 

 

 

 

 

 

 

 

 

 

12,060,531

 

Maryland — 1.8%

 

 

 

 

 

 

 

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

 

 

1,190

 

 

1,215,323

 

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

 

 

1,500

 

 

1,400,055

 

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

 

 

435

 

 

439,350

 

Maryland Health & Higher Educational
Facilities Authority, RB, King Farm
Presbyterian Community, Series B,
5.00%, 1/01/17

 

 

1,055

 

 

965,093

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Maryland (concluded)

 

 

 

 

 

 

 

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

 

$

1,000

 

$

1,160,540

 

 

 

 

 

 

 

 

 

 

 

 

5,180,361

 

Massachusetts — 4.3%

 

 

 

 

 

 

 

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

 

 

3,000

 

 

2,947,800

 

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

 

 

2,720

 

 

2,644,030

 

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

 

 

2,770

 

 

2,535,990

 

Massachusetts HFA, Refunding HRB,
Series F, AMT, 5.70%, 6/01/40

 

 

2,230

 

 

2,237,471

 

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

 

 

1,805

 

 

1,811,661

 

 

 

 

 

 

 

 

 

 

 

 

12,176,952

 

Michigan — 6.5%

 

 

 

 

 

 

 

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

 

 

910

 

 

1,079,988

 

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

 

 

2,890

 

 

2,690,619

 

Michigan State Hospital Finance
Authority, Refunding RB, Henry Ford
Health System, Series A, 5.25%,
11/15/46

 

 

7,050

 

 

6,161,700

 

Michigan State Hospital Finance
Authority, Refunding RB, McLaren
Health Care, 5.75%, 5/15/38

 

 

8,560

 

 

8,694,477

 

 

 

 

 

 

 

 

 

 

 

 

18,626,784

 

Mississippi — 5.2%

 

 

 

 

 

 

 

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

 

 

5,850

 

 

6,155,897

 

Mississippi Business Finance Corp.,
Refunding RB, System Energy
Resource Inc. Project, 5.88%,
4/01/22

 

 

2,500

 

 

2,499,700

 

Mississippi Business Finance Corp.,
Refunding RB, System Energy
Resource Inc. Project, 5.90%,
5/01/22

 

 

5,000

 

 

4,999,450

 

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

 

 

1,065

 

 

1,124,991

 

 

 

 

 

 

 

 

 

 

 

 

14,780,038

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010

3


 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Nevada — 0.2%

 

 

 

 

 

 

 

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

 

$

580

 

$

542,422

 

New Jersey — 2.8%

 

 

 

 

 

 

 

New Jersey EDA, RB, Cigarette Tax,
5.50%, 6/15/24

 

 

4,150

 

 

4,072,976

 

New Jersey EDA, RB, Continental
Airlines Inc. Project, AMT, 6.25%,
9/15/29

 

 

3,000

 

 

2,620,290

 

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

 

 

1,680

 

 

17

 

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

 

 

1,285

 

 

1,416,263

 

 

 

 

 

 

 

 

 

 

 

 

8,109,546

 

New York — 8.2%

 

 

 

 

 

 

 

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

 

 

9,405

 

 

10,735,901

 

New York City Industrial Development
Agency, RB, British Airways Plc
Project, AMT, 7.63%, 12/01/32

 

 

1,920

 

 

1,753,344

 

New York City Industrial Development
Agency, RB, Series C, 6.80%,
6/01/28

 

 

690

 

 

726,929

 

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

 

 

890

 

 

861,520

 

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

 

 

6,700

 

 

6,986,760

 

New York Liberty Development Corp.,
RB, Goldman Sachs Headquarters,
5.25%, 10/01/35

 

 

1,440

 

 

1,447,387

 

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

 

 

1,000

 

 

968,000

 

 

 

 

 

 

 

 

 

 

 

 

23,479,841

 

North Carolina — 3.1%

 

 

 

 

 

 

 

City of Charlotte North Carolina, RB,
Series B, 5.00%, 7/01/38

 

 

950

 

 

1,012,757

 

City of Charlotte North Carolina, RB,
Series B, 4.50%, 7/01/39

 

 

925

 

 

921,975

 

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

 

 

1,075,786

 

North Carolina Eastern Municipal Power
Agency, Refunding RB, Series B,
5.00%, 1/01/26

 

 

2,225

 

 

2,289,458

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

 

Par
(000)

 

 

Value

 

North Carolina (concluded)

 

 

 

 

 

 

 

North Carolina Medical Care
Commission, RB, Duke University
Health System, Series A, 5.00%,
6/01/39

 

$

630

 

$

632,293

 

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

 

 

1,400

 

 

1,393,224

 

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

 

 

2,000

 

 

1,563,720

 

 

 

 

 

 

 

 

 

 

 

 

8,889,213

 

Ohio — 3.7%

 

 

 

 

 

 

 

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

 

 

12,500

 

 

10,482,750

 

Pennsylvania — 4.5%

 

 

 

 

 

 

 

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

 

 

880

 

 

824,014

 

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

 

 

2,000

 

 

1,874,620

 

Montgomery County IDA Pennsylvania,
MRB, Whitemarsh Continuing Care,
6.13%, 2/01/28

 

 

470

 

 

355,715

 

Montgomery County IDA Pennsylvania,
MRB, Whitemarsh Continuing Care,
6.25%, 2/01/35

 

 

1,090

 

 

797,989

 

Pennsylvania Economic Development
Financing Authority, RB, Aqua

 

 

 

 

 

 

 

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

 

 

1,890

 

 

1,889,868

 

Pennsylvania Economic Development
Financing Authority, RB, National
Gypsum Co., Series B, AMT, 6.13%,
11/01/27

 

 

2,000

 

 

1,393,220

 

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

 

 

4,415

 

 

4,453,587

 

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

 

 

1,265

 

 

1,264,798

 

 

 

 

 

 

 

 

 

 

 

 

 

12,853,811

 

Puerto Rico — 2.7%

 

 

 

 

 

 

 

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

 

 

2,990

 

 

3,039,275

 

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

 

 

4,255

 

 

4,540,766

 

 

 

 

 

 

 

 

 

 

 

 

7,580,041

 

Tennessee — 0.3%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

954,360

 

 

 

 

4

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010


 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas — 10.8%

 

 

 

 

 

 

 

Brazos River Authority, Refunding RB,
TXU Electric Co. Project, Series C,
AMT, 5.75%, 5/01/36

 

$

2,740

 

$

2,576,093

 

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

 

 

1,500

 

 

975,270

 

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

 

 

5,800

 

 

5,884,970

 

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

 

 

4,820

 

 

4,602,232

 

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

 

 

2,250

 

 

2,251,328

 

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

 

 

2,000

 

 

2,240,720

 

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

 

 

7,000

 

 

7,401,310

 

Port of Corpus Christi Authority of
Nueces County Texas, Refunding RB,
Celanese Project, Series A, 6.45%,
11/01/30

 

 

800

 

 

792,856

 

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

 

 

3,875

 

 

4,033,759

 

 

 

 

 

 

 

 

 

 

 

 

30,758,538

 

Utah — 1.0%

 

 

 

 

 

 

 

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

 

 

2,780

 

 

2,775,552

 

U.S. Virgin Islands — 2.1%

 

 

 

 

 

 

 

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

 

 

6,000

 

 

6,067,740

 

Virginia — 1.7%

 

 

 

 

 

 

 

Fairfax County EDA, Refunding RB,
Goodwin House Inc., 5.13%,
10/01/37

 

 

1,000

 

 

912,580

 

Fairfax County EDA, Refunding RB,
Goodwin House, Inc., 5.13%,
10/01/42

 

 

3,440

 

 

3,096,585

 

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

 

 

965

 

 

961,921

 

 

 

 

 

 

 

 

 

 

 

 

4,971,086

 

Washington — 3.6%

 

 

 

 

 

 

 

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

 

 

5,000

 

 

6,279,600

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Washington (concluded)

 

 

 

 

 

 

 

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

 

$

3,700

 

$

4,035,109

 

 

 

 

 

 

 

 

 

 

 

 

10,314,709

 

Wisconsin — 5.4%

 

 

 

 

 

 

 

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

 

 

7,100

 

 

7,909,755

 

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

 

 

2,215

 

 

2,276,821

 

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

 

 

2,605

 

 

2,675,205

 

Wisconsin Housing & EDA, Refunding
RB, Series C, AMT, 4.88%, 3/01/36

 

 

2,885

 

 

2,659,104

 

 

 

 

 

 

 

 

 

 

 

 

15,520,885

 

Total Municipal Bonds – 125.0%

 

 

 

 

 

357,472,269

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

 

 

 

 

 

 

California — 3.4%

 

 

 

 

 

 

 

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

 

 

3,271

 

 

3,468,613

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/18

 

 

2,610

 

 

2,754,855

 

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

 

 

2,290

 

 

2,314,251

 

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

 

 

1,077

 

 

1,101,159

 

 

 

 

 

 

 

 

 

 

 

 

9,638,878

 

Colorado — 0.8%

 

 

 

 

 

 

 

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

 

 

2,129

 

 

2,244,603

 

Connecticut — 2.2%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University,
Series Z3, 5.05%, 7/01/42

 

 

6,000

 

 

6,314,340

 

Illinois — 4.0%

 

 

 

 

 

 

 

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

 

 

1,320

 

 

1,382,686

 

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

 

 

2,999

 

 

3,205,670

 

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010

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 (e)

 

 

Par
(000)

 

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

Metropolitan Pier & Exposition Authority,
Illinois, Refunding RB, Mccormick
Place Expansion, Series B (NPFGC),
5.75%, 6/15/23

 

$

6,400

 

$

6,922,688

 

 

 

 

 

 

 

 

 

 

 

 

11,511,044

 

Maryland — 0.8%

 

 

 

 

 

 

 

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

 

 

2,290

 

 

2,392,317

 

Massachusetts — 3.7%

 

 

 

 

 

 

 

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

 

 

10,000

 

 

10,487,600

 

New Hampshire — 0.7%

 

 

 

 

 

 

 

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

 

 

2,009

 

 

2,157,675

 

New York — 2.9%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB, Series DD, 5.00%,
6/15/37

 

 

6,299

 

 

6,481,096

 

New York City Municipal Water Finance
Authority, RB, Series FF-2, 5.50%,
6/15/40

 

 

1,575

 

 

1,722,897

 

 

 

 

 

 

 

 

 

 

 

 

8,203,993

 

North Carolina — 2.3%

 

 

 

 

 

 

 

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

 

 

6,239

 

 

6,449,586

 

Ohio — 5.9%

 

 

 

 

 

 

 

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

 

 

2,400

 

 

2,460,840

 

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

 

 

13,840

 

 

14,332,566

 

 

 

 

 

 

 

 

 

 

 

 

16,793,406

 

South Carolina — 1.9%

 

 

 

 

 

 

 

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

 

 

4,995

 

 

5,373,771

 

Texas — 6.9%

 

 

 

 

 

 

 

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

 

 

10,000

 

 

12,230,400

 

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

 

 

4,822

 

 

4,832,874

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

 

Par
(000)

 

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

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

 

$

2,743

 

$

2,826,405

 

 

 

 

 

 

 

 

 

 

 

 

19,889,679

 

Washington — 6.0%

 

 

 

 

 

 

 

Central Puget Sound Regional
Transportation Authority, Washington,
RB, Series A, 5.00%, 11/01/36

 

 

9,000

 

 

9,282,330

 

Central Puget Sound Regional
Transportation Authority, Washington,
RB, Series A (AGM), 5.00%, 11/01/32

 

 

7,693

 

 

8,014,101

 

 

 

 

 

 

 

 

 

 

 

 

17,296,431

 

Wisconsin — 0.9%

 

 

 

 

 

 

 

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

 

 

2,499

 

 

2,499,225

 

 

 

 

 

 

 

 

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 42.4%

 

 

 

 

 

121,252,548

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Long-Term Investments
(Cost – $471,684,605) – 167.4%

 

 

 

 

 

478,724,817

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

 

Shares

 

 

 

 

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

 

 

3,685,527

 

 

3,685,527

 

Total Short-Term Securities
(Cost – $3,685,527) – 1.3%

 

 

 

 

 

3,685,527

 

Total Investments
(Cost – $475,370,132*) – 168.7%

 

 

 

 

 

482,410,344

 

Other Assets Less Liabilities – 2.0%

 

 

 

 

 

5,577,831

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (21.7)%

 

 

 

 

 

(62,065,307

)

Preferred Shares, at Redemption Value – (49.0)%

 

 

 

 

 

(140,016,782

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

285,906,086

 

 

 

 

 

 

 

 

*

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

 

 

 

 

 

 

 

Aggregate cost

 

$

413,440,140

 

 

 

 

 

Gross unrealized appreciation

 

 

23,858,632

 

 

Gross unrealized depreciation

 

 

(16,919,117

)

 

 

 

 

Net unrealized appreciation

 

$

6,939,515

 

 

 

 

 

 

(a)

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

 

(b)

Non-income producing security.

 

(c)

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

 

(d)

Security is collateralized by Municipal or U.S. Treasury obligations.

 

 

 

6

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniVest Fund II, Inc. (MVT)


 

 

(e)

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

 

 

(f)

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

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

 

Net
Activity

 

 

Income

 

 

 

 

 

 

 

 

 

 

 

 

FFI Institutional Tax-Exempt Fund

 

$

3,685,527

 

$

6,396

 

 

 

 

(g)

Represents the current yield as of report date.

 

 

 

•

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

 

 

 

 

•

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

 

 

 

 

•

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

 

 

 

 

 

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

 

 

 

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

 

 

 

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

 

 

 

 

 

 

 

 

Valuation Inputs

 

Investments in
Securities

 

 

 

 

 

 

Assets

 

 

 

 

 

Level 1 - Short-Term Securities

 

$

3,685,527

 

 

Level 2 - Long-Term Investments1

 

 

478,724,817

 

 

Level 3

 

 

—

 

 

 

 

 

Total

 

$

482,410,344

 

 

 

 

 

 

 

1See above Schedule of Investments for values in each state or political subdivision.

 

 

 

BLACKROCK MUNIVEST FUND II, INC.

JANUARY 31, 2010

7

Item 2 –

Controls and Procedures
   

2(a) –

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

2(b) –

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

Item 3 –

Exhibits
   

 

Certifications – Attached hereto
   

 

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

 

BlackRock MuniVest Fund II, Inc.
       
 

By:

 /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock MuniVest Fund II, Inc.
   
  Date: March 19, 2010
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
 

By:

 /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: March 19, 2010
   
 

By:

 /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniVest Fund II, Inc.
   
  Date: March 19, 2010