Company: MYI
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230138
Chunk: 21

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-10-03
Form: N-CSR
Chunk 21
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 (MQY)

Fair Value Hierarchy as of Period End (continued)

|                       |     Level 1 |        Level 2 | Level 3 |          Total |
| Short-Term Securities |             |                |         |                |
| Money Market Funds    | $26,665,508 |             $— | $—      |    $26,665,508 |
|                       | $26,665,508 | $1,394,262,711 | $—      | $1,420,928,219 |

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial statement 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           | $—      | $(136,211,748) | $—      | $(136,211,748) |
| VRDP Shares at Liquidation Value | —       |   -450,300,000 | —       |   -450,300,000 |
|                                  | $—      | $(586,511,748) | $—      | $(586,511,748) |

See notes to financial statements.

54 2025 BlackRock Annual Report to Shareholders

Schedule of Investments July 31, 2025 BlackRock MuniYield Quality Fund III, Inc. (MYI) (Percentages shown are based on Net Assets)

| Security                                                                                                                               
 Municipal Bonds                                                                                                                        
 Alabama — 6.7%                                                                                                                         
 Black Belt Energy Gas District, RB(a)                                                                                                  |   | Par(000) |      Value |
|:---------------------------------------------------------------------------------------------------------------------------------------|:--|---------:|-----------:|
| Series A, 5.25%, 05/01/56                                                                                                              | $ |    3,540 | $3,603,066 |
| Series D, 5.00%, 03/01/55                                                                                                              |   |   15,340 | 16,117,733 |
| County of Jefferson Alabama Sewer Revenue,Refunding RB, 5.25%, 10/01/49                                                                |   |    6,955 |  6,982,021 |
| Energy Southeast A Cooperative District, RB,Series B-1, 5.75