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October 31, 2025 
2025 Quarterly Report
(Unaudited)
 
BlackRock MuniVest Fund, Inc. (MVF)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets)
 
Security
 
Par
(000)
Value
Municipal Bonds
Alabama — 7.3%
Black Belt Energy Gas District, RB(a)
 
Series A, 5.25%, 01/01/54
$
4,765
$ 5,132,336
Series A, 5.25%, 05/01/56
 
1,925
2,005,808
Series F, 5.50%, 11/01/53
 
1,590
1,680,409
County of Jefferson Alabama Sewer Revenue,
Refunding RB, 5.50%, 10/01/53
 
1,060
1,116,878
Lower Alabama Gas District, RB, Series A, 5.00%,
09/01/46
 
1,145
1,237,617
Mobile County Industrial Development Authority, RB
 
Series A, AMT, 5.00%, 06/01/54
 
5,325
5,165,872
Series B, AMT, 4.75%, 12/01/54
 
2,140
1,997,370
Southeast Alabama Gas Supply District, Refunding RB,
Series B, 5.00%, 06/01/49(a)
 
945
1,023,549
Southeast Energy Authority A Cooperative District, RB,
Series A-2, 5.31%, 01/01/53(a)
 
9,645
10,121,758
Tuscaloosa County Industrial Development Authority,
Refunding RB, Series A, 5.25%, 05/01/44(b)
 
1,610
1,620,428
 
 
31,102,025
Arizona — 1.1%
Arizona Industrial Development Authority, Refunding
RB(b)
 
Series A, 5.38%, 07/01/50
 
2,500
2,471,985
Series G, 5.00%, 07/01/47
 
715
681,137
City of Mesa Arizona Utility System Revenue, RB,
(AGM), 4.50%, 07/01/49
 
830
832,005
Industrial Development Authority of the City of Phoenix
Arizona, Refunding RB, 5.00%, 07/01/45(b)
 
700
681,724
 
 
4,666,851
Arkansas — 0.2%
Arkansas Development Finance Authority, RB, AMT,
Sustainability Bonds, 5.70%, 05/01/53
 
810
826,739
California — 4.3%
California Community Choice Financing Authority, RB,
Series B-2, Sustainability Bonds, 3.67%, 02/01/52(a)
 
3,500
3,296,946
California Enterprise Development Authority, RB,
8.00%, 11/15/62(b)
 
715
709,454
California Health Facilities Financing Authority,
Refunding RB, Series A, 3.00%, 08/15/51
 
4,395
3,284,620
California Infrastructure & Economic Development
Bank, Refunding RB, Series A, Class B, AMT,
Sustainability Bonds, 9.50%, 01/01/65(a)(b)
 
2,170
1,736,000
California Public Finance Authority, RB, Series A,
6.38%, 06/01/59(b)
 
2,735
2,570,954
Poway Unified School District, Refunding GO, 0.00%,
08/01/46(c)
 
10,000
3,947,976
San Diego County Regional Airport Authority, ARB,
Series B, AMT, Subordinate, 4.00%, 07/01/51
 
2,880
2,595,809
 
 
18,141,759
Colorado — 1.2%
Centerra Metropolitan District No. 1, TA, 5.00%,
12/01/47(b)
 
1,025
1,016,195
City & County of Denver Colorado Airport System
Revenue, Refunding ARB, Series A, AMT, 5.00%,
12/01/48
 
1,800
1,813,490
Security
 
Par
(000)
Value
Colorado (continued)
Colorado Health Facilities Authority, RB, 5.50%,
11/01/47
$
395
$ 416,311
Denver Convention Center Hotel Authority, Refunding
RB, 5.00%, 12/01/40
 
2,000
2,007,738
 
 
5,253,734
District of Columbia — 1.2%
Washington Metropolitan Area Transit Authority
Dedicated Revenue, RB, Series A, 2nd Lien,
Sustainability Bonds, 4.38%, 07/15/59
 
5,195
5,120,242
Florida — 8.7%
Celebration Pointe Community Development District
No. 1, SAB(d)(e)
 
5.00%, 05/01/32
 
720
576,000
5.00%, 05/01/48
 
2,160
1,728,000
City of Fort Lauderdale Florida Water & Sewer
Revenue, RB, Series B, 5.50%, 09/01/53
 
3,370
3,655,909
Collier County Health Facilities Authority, RB, 4.00%,
05/01/52
 
2,115
1,790,896
County of Broward Florida Tourist Development Tax
Revenue, Refunding RB, Convertible, 4.00%,
09/01/51
 
3,300
2,941,215
County of Miami-Dade Seaport Department, Refunding
RB, Series A, AMT, 5.00%, 10/01/38
 
1,800
1,927,755
Florida Development Finance Corp., Refunding RB
 
AMT, (AGM), 5.00%, 07/01/44
 
3,560
3,544,289
AMT, (AGM), 5.25%, 07/01/47
 
800
795,879
Florida Housing Finance Corp., RB, S/F Housing
 
Series 5, (FHLMC, FNMA, GNMA), 5.00%, 07/01/50
 
2,585
2,633,125
Series 5, (FHLMC, FNMA, GNMA), 5.05%, 01/01/56
 
1,665
1,683,407
Lakewood Ranch Stewardship District, SAB
 
4.63%, 05/01/27
 
100
100,981
5.25%, 05/01/37
 
470
477,580
5.38%, 05/01/47
 
770
774,129
6.30%, 05/01/54
 
405
427,332
Lee County Industrial Development Authority, RB
 
Series B-2, 4.38%, 11/15/29
 
1,020
1,025,260
Series B-3, 4.13%, 11/15/29
 
1,060
1,065,478
Miami-Dade County Expressway Authority, Refunding
RB, Series A, (AGM), 5.00%, 07/01/35
 
8,900
8,907,326
Orange County Health Facilities Authority, RB, 4.00%,
10/01/52
 
2,000
1,758,721
Sarasota County Health Facilities Authority, RB, 5.00%,
05/15/48
 
605
569,820
University of Florida Department of Housing &
Residence Education Hsg Sys Rev, RB, Series A,
(BAM-TCRS), 3.00%, 07/01/51
 
1,000
726,591
 
 
37,109,693
Georgia — 2.9%
DeKalb County Housing Authority, Refunding RB,
4.13%, 12/01/34
 
1,820
1,829,809
East Point Business & Industrial Development Authority,
RB, Series A, 5.25%, 06/15/62(b)
 
375
246,037
Main Street Natural Gas, Inc., RB, Series A, 5.00%,
06/01/53(a)
 
4,130
4,378,402
Main Street Natural Gas, Inc., Refunding RB,
Series E-2, 4.56%, 12/01/53(a)
 
5,565
5,763,747
 
 
12,217,995
Illinois — 13.1%
Chicago Board of Education, GO
 
Series A, 6.25%, 12/01/50
 
1,890
1,975,719
2
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Illinois (continued)
Chicago Board of Education, GO (continued)
 
Series C, 5.25%, 12/01/35
$
945
$ 944,983
Series D, 5.00%, 12/01/46
 
3,570
3,239,349
Series H, 5.00%, 12/01/36
 
865
860,309
Chicago Board of Education, Refunding GO
 
Series B, 12/01/43(f)
 
550
573,328
Series G, 5.00%, 12/01/34
 
865
865,021
Chicago O’Hare International Airport, ARB
 
Class A, AMT, Senior Lien, 4.50%, 01/01/48
 
7,000
6,813,660
Class A, AMT, Senior Lien, 4.63%, 01/01/53
 
3,300
3,220,919
Class A, AMT, Senior Lien, (AGM), 5.50%, 01/01/53
 
6,900
7,168,110
Series B, Senior Lien, 4.50%, 01/01/56
 
4,760
4,575,292
Illinois Finance Authority, Refunding RB
 
Series C, 4.00%, 02/15/27(g)
 
1,495
1,521,121
Series C, 4.00%, 02/15/41
 
5
4,869
Illinois Housing Development Authority, RB, S/F
Housing, Series G, Sustainability Bonds, (FHLMC,
FNMA, GNMA), 4.85%, 10/01/42
 
985
1,022,517
Illinois State Toll Highway Authority, RB
 
Series A, 5.00%, 01/01/40
 
8,710
8,717,781
Series A, 5.00%, 01/01/45
 
1,000
1,035,100
Series A, 4.00%, 01/01/46
 
1,500
1,389,238
Metropolitan Pier & Exposition Authority, RB, CAB,
(BAM-TCRS), 0.00%, 12/15/56(c)
 
8,755
1,946,222
Metropolitan Pier & Exposition Authority, Refunding RB,
Series B, (AGM), 0.00%, 06/15/47(c)
 
8,000
2,908,202
State of Illinois, GO, Series D, 5.00%, 11/01/27
 
6,965
7,244,077
 
 
56,025,817
Indiana — 0.4%
Indiana Finance Authority, Refunding RB
 
Series C, 5.25%, 10/01/46
 
1,160
1,251,494
Series C, 5.25%, 10/01/47
 
400
430,376
 
 
1,681,870
Iowa — 0.2%
Iowa Finance Authority, Refunding RB, Series A, 5.13%,
05/15/59
 
850
796,224
Kansas — 0.4%
City of Lenexa Kansas, Refunding RB, Series A, 5.00%,
05/15/43
 
1,530
1,507,626
Kentucky — 0.5%
Kentucky Public Energy Authority, Refunding RB,
Series B, 5.00%, 01/01/55(a)
 
1,965
2,134,449
Maryland — 0.9%
City of Baltimore Maryland, Refunding RB, Series A,
4.50%, 09/01/33
 
545
548,335
Maryland Community Development Administration,
Refunding RB, S/F Housing, Series C, Sustainability
Bonds, (FHLMC, FNMA, GNMA), 4.50%, 09/01/49
 
2,155
2,146,617
Maryland Stadium Authority, RB, 5.00%, 06/01/54
 
1,050
1,092,394
 
 
3,787,346
Massachusetts — 1.1%
Commonwealth of Massachusetts, GOL, Series E,
5.00%, 11/01/49
 
3,790
3,953,850
Massachusetts Development Finance Agency, RB,
Series A, 5.00%, 01/01/47
 
815
792,915
 
 
4,746,765
Security
 
Par
(000)
Value
Michigan — 1.6%
Michigan Finance Authority, RB, Sustainability Bonds,
5.50%, 02/28/57
$
1,420
$ 1,488,032
Michigan Finance Authority, Refunding RB
 
4.00%, 09/01/46
 
1,200
1,064,244
4.00%, 11/15/46
 
2,640
2,429,593
Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43
 
1,775
1,776,924
 
 
6,758,793
Minnesota — 0.9%
Housing & Redevelopment Authority of The City of St.
Paul Minnesota, RB, Series A, 5.50%, 07/01/52(b)
 
695
655,808
Minnesota Housing Finance Agency, RB, S/F Housing,
Series M, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 5.10%, 07/01/42
 
2,880
3,065,936
 
 
3,721,744
Missouri — 0.7%
Health & Educational Facilities Authority of the State of
Missouri, Refunding RB
 
Series A, 4.00%, 04/01/45
 
2,625
2,465,497
Series A, 5.25%, 02/01/54
 
665
659,619
 
 
3,125,116
Montana — 0.1%
Montana Board of Housing, RB, S/F Housing,
Series B-2, 3.60%, 12/01/47
 
305
270,054
Nebraska — 0.3%
Nebraska Investment Finance Authority, RB, S/F
Housing, Series G, Sustainability Bonds, (FHLMC,
FNMA, GNMA), 4.70%, 09/01/51
 
1,450
1,453,836
New Hampshire — 3.1%
National Finance Authority Affordable Housing
Certificates, RB, Series 2024-1, Class A, 4.15%,
10/20/40
 
4,635
4,624,325
New Hampshire Business Finance Authority, RB
 
Series 2025-1, Class A1, 4.09%, 01/20/41(a)
 
677
674,022
Series A, Sustainability Bonds, 5.50%, 06/01/55
 
4,130
4,344,633
New Hampshire Business Finance Authority, RB, M/F
Housing
 
1st Series, Class B, 5.75%, 04/28/42
 
1,015
1,059,619
Series 2025, Subordinate, 5.15%, 09/28/37
 
1,545
1,562,803
Series 2, Sustainability Bonds, 4.25%, 07/20/41
 
1,099
1,096,016
 
 
13,361,418
New Jersey — 7.6%
New Jersey Economic Development Authority, ARB,
Series A, AMT, 5.63%, 11/15/30
 
1,530
1,530,009
New Jersey Economic Development Authority, RB
 
AMT, 5.13%, 01/01/34
 
1,050
1,051,788
AMT, 5.38%, 01/01/43
 
10,000
10,008,947
New Jersey Health Care Facilities Financing Authority,
RB, 4.00%, 07/01/51
 
2,500
2,304,281
New Jersey Higher Education Student Assistance
Authority, RB, Series B, AMT, 4.25%, 12/01/45
 
470
467,292
New Jersey Higher Education Student Assistance
Authority, Refunding RB
 
Series B, AMT, 4.00%, 12/01/41
 
1,600
1,589,224
Series C, AMT, Subordinate, 5.00%, 12/01/52
 
2,615
2,594,425
New Jersey Housing & Mortgage Finance Agency, RB,
S/F Housing, Series M, Sustainability Bonds, 5.10%,
10/01/50
 
2,245
2,314,733
New Jersey Transportation Trust Fund Authority, RB,
Series AA, 5.25%, 06/15/41
 
780
780,586
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
New Jersey (continued)
New Jersey Transportation Trust Fund Authority, RB,
CAB, Series A, 0.00%, 12/15/38(c)
$
7,260
$ 4,392,161
New Jersey Turnpike Authority, RB, Series A, 5.25%,
01/01/55
 
1,960
2,107,663
Tobacco Settlement Financing Corp., Refunding RB
 
Series A, 5.00%, 06/01/46
 
3,000
2,967,682
Sub-Series B, 5.00%, 06/01/46
 
450
438,137
 
 
32,546,928
New York — 10.7%
Build NYC Resource Corp., Refunding RB, AMT,
5.00%, 01/01/35(b)
 
2,060
2,061,864
City of New York, GO
 
Series D, 4.00%, 04/01/50
 
2,525
2,330,947
Series G-1, 5.25%, 02/01/53
 
370
394,283
Erie Tobacco Asset Securitization Corp., Refunding RB,
Series A, 5.00%, 06/01/45
 
4,435
3,662,787
New York City Transitional Finance Authority Future Tax
Secured Revenue, RB, Series A-1, Subordinate,
5.25%, 05/01/52
 
1,460
1,561,660
New York Counties Tobacco Trust IV, Refunding RB
 
Series A, 5.00%, 06/01/38
 
3,500
3,257,590
Series A, 6.25%, 06/01/41(b)
 
3,045
2,930,025
New York Liberty Development Corp., Refunding RB
 
Class 2, 5.38%, 11/15/40(b)
 
1,145
1,145,211
Series A, Sustainability Bonds, 3.00%, 11/15/51
 
415
299,885
New York State Thruway Authority, RB, Sustainability
Bonds, 4.13%, 03/15/56
 
3,325
3,118,518
New York Transportation Development Corp., ARB,
AMT, 5.63%, 04/01/40
 
905
950,290
New York Transportation Development Corp., RB
 
5.38%, 06/30/60
 
9,950
10,148,999
AMT, 5.00%, 10/01/35
 
1,975
2,065,995
AMT, 4.00%, 04/30/53
 
1,175
1,004,352
AMT, Sustainability Bonds, (AGM), 5.25%, 06/30/60
 
4,080
4,153,365
Triborough Bridge & Tunnel Authority Sales Tax
Revenue, RB, Series A, 4.13%, 05/15/53
 
2,770
2,628,893
TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41
 
1,785
1,789,971
Westchester Tobacco Asset Securitization Corp.,
Refunding RB, Sub-Series C, 5.13%, 06/01/51
 
2,740
2,314,639
 
 
45,819,274
North Dakota — 0.4%
City of Grand Forks North Dakota, RB
 
Series A, (AGM), 5.00%, 12/01/48
 
640
658,648
Series A, (AGM), 5.00%, 12/01/53
 
1,125
1,150,178
 
 
1,808,826
Ohio — 1.6%
Buckeye Tobacco Settlement Financing Authority,
Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55
 
3,605
3,021,131
State of Ohio, Refunding RB, Series A, (BAM-TCRS),
4.00%, 01/15/50
 
4,420
3,889,561
 
 
6,910,692
Oklahoma — 1.6%
Oklahoma Development Finance Authority, RB,
Series B, 5.50%, 08/15/52
 
1,625
1,631,345
Oklahoma Turnpike Authority, RB, 5.50%, 01/01/53
 
4,070
4,340,601
Tulsa Municipal Airport Trust Trustees, Refunding ARB,
AMT, 6.25%, 12/01/35
 
885
1,020,581
 
 
6,992,527
Security
 
Par
(000)
Value
Pennsylvania — 13.3%
Allegheny County Airport Authority, ARB, Series A, AMT,
(AGM), 5.50%, 01/01/53
$
1,330
$ 1,396,189
Allentown Neighborhood Improvement Zone
Development Authority, RB, 5.00%, 05/01/42(b)
 
4,120
4,207,819
City of Philadelphia Pennsylvania Water & Wastewater
Revenue, RB, Series C, (AGM), 5.25%, 09/01/54
 
5,540
5,927,642
City of Philadelphia Pennsylvania Water & Wastewater
Revenue, Refunding RB, Series B, (AGM), 4.50%,
09/01/48
 
2,785
2,814,612
Geisinger Authority, Refunding RB
 
4.00%, 04/01/50
 
5,000
4,518,730
Series A-1, 4.00%, 02/15/47
 
5,670
5,183,097
Lancaster Industrial Development Authority, RB, 5.00%,
12/01/44
 
1,000
991,791
Montgomery County Higher Education and Health
Authority, Refunding RB
 
4.00%, 09/01/51
 
4,000
3,534,005
Class B, 5.00%, 05/01/57
 
5,000
5,034,759
Series B, (BAM-TCRS), 4.00%, 05/01/52
 
4,585
4,048,276
Montgomery County Industrial Development Authority,
RB, Series C, 5.00%, 11/15/45
 
1,095
1,095,416
Montgomery County Industrial Development Authority,
Refunding RB, 5.25%, 01/01/40
 
4,170
4,170,010
Pennsylvania Economic Development Financing
Authority, RB
 
5.00%, 06/30/42
 
2,565
2,571,290
AMT, 5.50%, 06/30/43
 
985
1,028,266
Pennsylvania Housing Finance Agency, RB, S/F
Housing, Series 143A, Sustainability Bonds, 5.45%,
04/01/51
 
6,555
6,871,350
Philadelphia Authority for Industrial Development, RB,
5.25%, 11/01/52
 
2,440
2,524,070
School District of Philadelphia, GOL, Series A, (SAW),
5.50%, 09/01/48
 
710
757,041
 
 
56,674,363
Puerto Rico — 5.0%
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB
 
Series A-1, Restructured, 4.75%, 07/01/53
 
2,038
1,926,933
Series A-1, Restructured, 5.00%, 07/01/58
 
11,530
11,198,405
Series A-2, Restructured, 4.78%, 07/01/58
 
3,133
2,946,262
Series A-2, Restructured, 4.33%, 07/01/40
 
3,729
3,615,246
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB, CAB, Series A-1, Restructured,
0.00%, 07/01/46(c)
 
5,265
1,832,391
 
 
21,519,237
South Carolina — 1.8%
Patriots Energy Group Financing Agency, RB,
Series A1, 5.25%, 10/01/54(a)
 
3,235
3,529,025
South Carolina Public Service Authority, Refunding RB,
Series B, 5.00%, 12/01/46
 
3,810
3,969,131
 
 
7,498,156
Tennessee — 1.9%
Metropolitan Government Nashville & Davidson County
Health & Educational Fcilities Board, Refunding RB,
4.00%, 10/01/54
 
5,365
4,979,987
4
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Tennessee (continued)
Metropolitan Government Nashville & Davidson County
Sports Authority, RB, Series A, Senior Lien, (AGM),
5.25%, 07/01/48
$
2,010
$ 2,125,945
Metropolitan Government of Nashville & Davidson
County TN Water & Sewer Revenue, Refunding RB,
5.25%, 07/01/55
 
1,125
1,198,390
 
 
8,304,322
Texas — 11.0%
Alamo Heights Independent School District, GO, (PSF),
4.00%, 02/01/51
 
2,415
2,265,388
Arlington Higher Education Finance Corp., RB(b)
 
7.50%, 04/01/62
 
790
395,000
7.88%, 11/01/62
 
685
411,000
Aubrey Independent School District, GO, (PSF), 4.00%,
02/15/52
 
1,500
1,404,814
City of Austin Texas Airport System Revenue, ARB,
AMT, 5.00%, 11/15/34
 
2,080
2,081,967
City of Austin Texas Water & Wastewater System
Revenue, Refunding RB, 5.00%, 11/15/53
 
1,170
1,233,718
City of Houston Texas Airport System Revenue, ARB,
Series B, AMT, 5.50%, 07/15/39
 
600
646,744
City of Houston Texas Airport System Revenue,
Refunding ARB, Series A, AMT, Subordinate Lien,
5.50%, 07/01/55
 
2,615
2,789,835
City of Houston Texas Airport System Revenue,
Refunding RB, AMT, 5.00%, 07/01/29
 
1,750
1,750,011
Conroe Independent School District, GO, (PSF), 4.00%,
02/15/50
 
2,000
1,873,814
County of Harris Texas, GOL, 4.00%, 09/15/49
 
3,480
3,308,965
Dallas Independent School District, Refunding GO,
(PSF), 4.00%, 02/15/53
 
1,600
1,494,035
Del Valle Independent School District Texas, GO,
(PSF), 4.00%, 06/15/47
 
2,795
2,672,682
Eagle Mountain & Saginaw Independent School District,
GO, (PSF), 4.00%, 08/15/54
 
850
787,604
EP Royal Estates PFC, RB, M/F Housing, 4.25%,
10/01/39
 
665
669,619
Northwest Independent School District, GO, (PSF),
5.25%, 02/15/55
 
1,245
1,330,078
Tarrant County Cultural Education Facilities Finance
Corp., RB, 5.00%, 11/15/51
 
3,070
3,164,341
Tarrant County Cultural Education Facilities Finance
Corp., Refunding RB, 5.00%, 11/15/40
 
3,250
3,250,339
Texas Municipal Gas Acquisition & Supply Corp. III,
Refunding RB, 5.00%, 12/15/32
 
5,740
6,267,460
Waller Consolidated Independent School District, GO,
Series A, (PSF), 4.00%, 02/15/53
 
3,300
3,091,391
Ysleta Independent School District, GO, (PSF), 4.25%,
08/15/56
 
6,420
6,188,192
 
 
47,076,997
Utah — 1.1%
Black Desert Public Infrastructure District, SAB, 5.63%,
12/01/53(b)
 
270
272,736
County of Utah, RB, Series B, 4.00%, 05/15/47
 
2,650
2,484,642
Downtown Revitalization Public Infrastructure District,
RB
 
Series A, 1st Lien, (AGM), 5.50%, 06/01/55
 
1,175
1,265,702
Series B, 2nd Lien, (AGM), 5.50%, 06/01/55
 
415
446,700
 
 
4,469,780
Security
 
Par
(000)
Value
Virginia — 2.3%
Ballston Quarter Community Development Authority,
TA, Series A-1, 5.50%, 03/01/46
$
724
$ 723,060
Ballston Quarter Community Development Authority,
TA, CAB, Series A-2, 7.13%, 03/01/59(h)
 
1,739
1,534,349
Tobacco Settlement Financing Corp., Refunding RB,
Series B-1, 5.00%, 06/01/47
 
3,290
2,757,036
Virginia Small Business Financing Authority, RB
 
AMT, 5.00%, 12/31/52
 
2,420
2,380,233
AMT, 5.00%, 12/31/56
 
2,555
2,487,211
 
 
9,881,889
Washington — 2.3%
County of King Washington Sewer Revenue, Refunding
RB, Series A, Junior Lien, 3.45%, 01/01/40(a)
 
1,325
1,312,412
Washington Health Care Facilities Authority, Refunding
RB
 
4.00%, 09/01/50
 
2,000
1,812,790
Series A, 5.00%, 08/01/44
 
1,750
1,773,574
Series A, 5.50%, 09/01/55
 
335
355,773
Washington State Housing Finance Commission, RB,
M/F Housing(a)
 
Series A-1, 0.00%, 11/20/41
 
2,032
1,955,184
Series 2, Class 1, Sustainability Bonds, 4.08%,
03/01/50
 
1,768
1,729,481
Washington State Housing Finance Commission,
Refunding RB
 
Series A, 5.00%, 07/01/43
 
425
430,399
Series A, 5.00%, 07/01/48
 
400
397,591
 
 
9,767,204
Wisconsin — 2.7%
Public Finance Authority, RB
 
Series A, 5.00%, 06/01/36(b)
 
200
184,759
Series A, 5.00%, 06/01/51(b)
 
680
520,599
Series A, 5.00%, 06/01/61(b)
 
870
640,610
AMT, 5.75%, 06/30/60
 
205
211,701
AMT, 5.75%, 12/31/65
 
6,470
6,701,273
AMT, 6.50%, 12/31/65
 
1,360
1,493,672
Public Finance Authority, Refunding RB
 
5.25%, 11/15/55
 
925
937,449
Series B, AMT, 5.00%, 07/01/42
 
1,000
1,000,180
 
 
11,690,243
Wyoming — 0.5%
University of Wyoming, RB, Series C, (AGM), 4.00%,
06/01/51
 
1,690
1,561,311
Wyoming Community Development Authority,
Refunding RB, S/F Housing, Series 1, 4.40%,
12/01/43
 
500
506,326
 
 
2,067,637
Total Municipal Bonds — 114.0%
(Cost: $478,586,463)
486,838,171
Municipal Bonds Transferred to Tender Option Bond Trusts(i)
Colorado — 2.2%
City & County of Denver Colorado Airport System
Revenue, Refunding ARB, Series A, AMT, 4.13%,
11/15/47
 
10,300
9,534,711
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
District of Columbia — 5.0%
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB
 
Series A, AMT, 5.00%, 10/01/50
$
12,097
$ 12,474,986
Series A, AMT, 5.50%, 10/01/55
 
8,340
8,984,818
 
 
21,459,804
Florida — 2.4%
JEA Water & Sewer System Revenue, Refunding RB,
Series A, 5.25%, 10/01/49
 
9,830
10,469,783
Massachusetts — 5.6%
Commonwealth of Massachusetts, GO, Series 2024,
5.00%, 12/01/51
 
16,200
17,054,124
Commonwealth of Massachusetts, GOL, Series A,
5.00%, 04/01/55
 
6,620
6,963,855
 
 
24,017,979
Minnesota — 2.0%
Minneapolis-St. Paul Metropolitan Airports Commission,
ARB, AMT, 5.25%, 01/01/49
 
8,110
8,492,893
Missouri — 2.1%
Health & Educational Facilities Authority of the State of
Missouri, RB, 4.00%, 06/01/53(j)
 
10,000
8,811,516
New Jersey — 1.8%
New Jersey Transportation Trust Fund Authority, RB,
Series AA, 5.00%, 06/15/55
 
7,380
7,649,706
New York — 17.1%
New York City Municipal Water Finance Authority, RB,
Series AA, Subordinate, 5.00%, 06/15/51(j)
 
6,135
6,445,644
New York City Ny Hsg Dev Corp, 5.00%, 11/01/55
 
4,200
4,261,484
New York City Transitional Finance Authority Future Tax
Secured Revenue, RB
 
Series B, 5.25%, 05/01/55
 
7,173
7,654,411
Series H-1, Subordinate, 5.00%, 11/01/50
 
6,060
6,333,967
New York Power Authority, RB, Series A, Sustainability
Bonds, (AGM), 5.13%, 11/15/63
 
6,627
6,951,149
New York Transportation Development Corp., RB, AMT,
Sustainability Bonds, (AGM), 5.13%, 06/30/60
 
10,000
10,048,629
Triborough Bridge & Tunnel Authority Sales Tax
Revenue, RB
 
Series A, 4.13%, 05/15/53
 
10,572
10,033,226
Series A, 4.50%, 05/15/63
 
16,736
16,580,857
Series A-1, 4.13%, 05/15/64
 
5,150
4,726,023
 
 
73,035,390
Oregon — 2.8%
Port of Portland Oregon Airport Revenue, Refunding
ARB, Series 30A, AMT, Sustainability Bonds, 5.25%,
07/01/45
 
10,560
11,146,069
State of Oregon Housing & Community Services
Department, RB, M/F Housing, Series A, 4.95%,
07/01/30
 
600
605,546
 
 
11,751,615
Pennsylvania — 4.5%
Pennsylvania Housing Finance Agency, RB, S/F
Housing, Series 143A, Sustainability Bonds, 5.38%,
10/01/46
 
8,052
8,441,689
Pennsylvania Turnpike Commission, Refunding RB,
Series B, 5.25%, 12/01/52
 
10,005
10,598,370
 
 
19,040,059
Security
 
Par
(000)
Value
South Carolina — 5.1%
Patriots Energy Group Financing Agency, Refunding
RB, Series B-1, 5.25%, 02/01/54(a)
$
19,995
$ 21,746,973
Texas — 2.1%
Harris County Health Facilities Development Corp.,
Refunding RB, Series B, 5.75%, 07/01/27
 
8,925
9,172,467
Total Municipal Bonds Transferred to Tender Option Bond
Trusts — 52.7%
(Cost: $219,681,054)
225,182,896
Total Long-Term Investments — 166.7%
(Cost: $698,267,517)
712,021,067
 
 
 
 
Shares
 
Short-Term Securities
Money Market Funds — 2.9%
BlackRock Liquidity Funds, MuniCash, Institutional
Shares, 3.01%(k)(l)
 
12,081,056
12,082,264
Total Short-Term Securities — 2.9%
(Cost: $12,082,264)
12,082,264
Total Investments — 169.6%
(Cost: $710,349,781)
724,103,331
Other Assets Less Liabilities — 2.0%
8,400,482
Liability for TOB Trust Certificates, Including Interest Expense and
Fees Payable — (35.6)%
(151,838,739
)
VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —
(36.0)%
(153,600,000
)
Net Assets Applicable to Common Shares — 100.0%
$  427,065,074
 
(a)
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate and
spread if published and available.
(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)
Issuer filed for bankruptcy and/or is in default.
(e)
Non-income producing security.
(f)
When-issued security.
(g)
U.S. 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.
(h)
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-
down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently
in effect.
(i)
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates
received by the Fund. These bonds serve as collateral in a secured borrowing.
(j)
All or a portion of the security is subject to a recourse agreement. The aggregate
maximum potential amount the Fund could ultimately be required to pay under the
agreements, which expire between December 15, 2032 to June 1, 2046, is $9,963,489.
(k)
Affiliate of the Fund.
(l)
Annualized 7-day yield as of period end.
6
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
07/31/25
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
10/31/25
Shares
Held at
10/31/25
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, MuniCash, Institutional Shares
$ 7,829,086
$ 4,253,178
(a)
$ —
$ —
$ —
$ 12,082,264
12,081,056
$ 36,047
$ —
 
(a)
Represents net amount purchased (sold).
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 
• Level 1 – Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of 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. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments 
Long-Term Investments 
Municipal Bonds
$ —
$ 486,838,171
$ —
$ 486,838,171
Municipal Bonds Transferred to Tender Option Bond Trusts
—
225,182,896
—
225,182,896
Short-Term Securities 
Money Market Funds
12,082,264
—
—
12,082,264
 
$12,082,264
$712,021,067
$—
$724,103,331
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows: 
 
Level 1
Level 2
Level 3
Total
Liabilities
TOB Trust Certificates
$—
$(151,126,558
)
$—
$(151,126,558
)
VMTP Shares at Liquidation Value
—
(153,600,000
)
—
(153,600,000
)
 
$—
$(304,726,558
)
$—
$(304,726,558
)
Schedule of Investments
7
Schedule of Investments (unaudited)(continued)
October 31, 2025
BlackRock MuniVest Fund, Inc. (MVF)
 
 
Portfolio Abbreviation 
AGM
 Assured Guaranty Municipal Corp.
AMT
 Alternative Minimum Tax
ARB
 Airport Revenue Bonds
BAM-TCRS
 Build America Mutual Assurance Co. - Transferable
Custodial Receipts
CAB
 Capital Appreciation Bonds
FHLMC
 Federal Home Loan Mortgage Corp.
FNMA
 Federal National Mortgage Association
GNMA
 Government National Mortgage Association
GO
 General Obligation Bonds
GOL
 General Obligation Ltd.
M/F
 Multi-Family
PSF
 Permanent School Fund
RB
 Revenue Bonds
S/F
 Single-Family
SAB
 Special Assessment Bonds
SAW
 State Aid Withholding
TA
 Tax Allocation
8