Company: MYI
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074486
Chunk: 21

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 21
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,872 |
|                                                          | $29,836,872 | $1,425,823,442 | $—      | $1,455,660,314 |

56 2025 BlackRock Semi-Annual Report to Shareholders

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

Fair Value Hierarchy as of Period End (continued)

|                                     | Level 1    | Level 2 | Level 3 | Total      |
| Derivative Financial Instruments(a) |            |         |         |            |
| Liabilities                         |            |         |         |            |
| Interest Rate Contracts             | $(501,068) | $—      | $—      | $(501,068) |

| (a) | Derivative financial instruments are futures contracts. Futures contracts are valued at the 
 unrealized appreciation (depreciation) on the instrument.                                   |

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           | $—      |  $(95,444,602) | $—      |  $(95,444,602) |
| VRDP Shares at Liquidation Value | —       |   -450,300,000 | —       |   -450,300,000 |
|                                  | $—      | $(545,744,602) | $—      | $(545,744,602) |

See notes to financial statements.

Schedule of Investments 57

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

| Security                                                                                                                
 Municipal Bonds                                                                                                         
 Alabama — 5.6%                                                                                                          |   | Par(000) |      Value |
|:------------------------------------------------------------------------------------------------------------------------|:--|---------:|-----------:|
| Black Belt Energy Gas District, RB, Series D, 5.00%,03/01/55(a)                                                         | $ |    6,320 | $6,742,751 |
| County of Jefferson Alabama Sew