Company: MYI
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074486
Chunk: 22

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 22
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| (c) | Zero-coupon bond.                                                                                                                                                                                                                 |
| (d) | 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                                                     
 currentlyin effect.                                                                                                                                                                                                               |
| (e) | Issuer filed for bankruptcy and/or is in default.                                                                                                                                                                                 |
| (f) | Non-income producing security.                                                                                                                                                                                                    |
| (g) | U.S. Government securities held in escrow, are used to pay interest on this security aswell as to retire the bond in full at the date indicated, typically at a premium to par.                                                   |
| (h) | When-issued security.                                                                                                                                                                                                             |
| (i) | 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. See Note 4of the Notes to Financial Statements for details. |
| (j) | Affiliate of the Fund.                                                                                                                                                                                                            |
| (k) | Annualized 7-day yield as of period end.                                                                                                                                                                                          |

Schedule of Investments 63

Schedule of Investments (unaudited) (continued) January 31, 2025 BlackRock MuniYield Quality Fund III, Inc. (MYI)

Affiliates Investments in issuers considered to be affiliate(s) of the Fund during the six months ended January 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 at01/31/25 | SharesHeld at01/31/25 |   Income | Capital GainDistributionsfromUnderlyingFunds |
| BlackRock Liquidity Funds, MuniCash, InstitutionalShares |      $10,785,305 | $22,695,624(a)   | $—                 |                   $422 | $(422)                                        |      $33,480,929 |            33,477,581 | $247,900 | $—                                           |

| (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