Company: MYI
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230138
Chunk: 18

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-10-03
Form: N-CSR
Chunk 18
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) | Rounds to less than 1,000.                                                                                                                                                                                                                    |
| (k) | Represent bonds transferred to a TOB Trust in exchange of cash and residual certificatesreceived by the Fund. These bonds serve as collateral in a secured borrowing. SeeNote 4 of the Notes to Financial Statements for details.             |
| (l) | All or a portion of the security is subject to a recourse agreement. The aggregatemaximum potential amount the Fund could ultimately be required to pay under theagreement, which expires on March 15, 2033, is $3,550,052. See Note 4 of the 
 Notes toFinancial Statements for details.                                                                                                                                                                                                     |
| (m) | Affiliate of the Fund.                                                                                                                                                                                                                        |
| (n) | Annualized 7-day yield as of period end.                                                                                                                                                                                                      |

36 2025 BlackRock Annual Report to Shareholders

Schedule of Investments (continued) July 31, 2025 BlackRock MuniAssets Fund, Inc. (MUA)

Affiliates Investments in issuers considered to be affiliate(s) of the Fund during the year ended July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

| Affiliated Issuer                                         | Value at07/31/24 | Purchasesat Cost | Proceedsfrom Sales | NetRealizedGain (Loss) | Change inUnrealizedAppreciation(Depreciation) | Value at07/31/25 | SharesHeld at07/31/25 |   Income | Capital GainDistributionsfromUnderlyingFunds |
| BlackRock Liquidity Funds, MuniCash, Institutional Shares |      $12,746,476 | $—               | $(10,286,629)(a)   |                 $1,104 | $(1,104)                                      |       $2,459,847 |             2,459,601 | $163,009 | $—                                           |

| (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. For a description of the input levels and information about the Fund’s policy regarding valuation of financial instruments, refer to the Notes to 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