UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-06499
Name of Fund: BlackRock MuniYield California Fund, Inc. (MYC)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield California Fund, Inc., 55 East 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 07/31/2012
Date of reporting period: 04/30/2012
Item 1 – Schedule of Investments
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|
|
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Schedule of Investments April 30, 2012 (Unaudited) |
BlackRock MuniYield California Fund, Inc. (MYC) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
California — 86.9% |
|
|
|
|
|
|
|
|
Corporate — 0.3% |
|
|
|
|
|
|
|
|
City of Chula Vista California, Refunding |
|
$ |
975 |
|
$ |
1,124,468 |
|
|
County/City/Special District/School District — 30.8% |
|
|
|
|
|
|
|
|
California State Public Works Board, RB, |
|
|
5,525 |
|
|
6,555,468 |
|
|
Campbell Union High School District, |
|
|
4,000 |
|
|
4,658,720 |
|
|
City of Los Angeles California, COP, |
|
|
2,000 |
|
|
2,007,260 |
|
|
City of San Jose California, RB, |
|
|
|
|
|
|
|
|
6.50%, 5/01/36 |
|
|
1,520 |
|
|
1,727,328 |
|
|
6.50%, 5/01/42 |
|
|
1,860 |
|
|
2,103,028 |
|
|
Desert Community College District, GO, |
|
|
5,000 |
|
|
726,900 |
|
|
El Monte Union High School District |
|
|
9,620 |
|
|
10,691,283 |
|
|
Grossmont Healthcare District, GO, |
|
|
2,000 |
|
|
2,375,780 |
|
|
Los Angeles Community College District |
|
|
5,000 |
|
|
5,695,250 |
|
|
Los Angeles Municipal Improvement |
|
|
|
|
|
|
|
|
5.75%, 9/01/34 |
|
|
1,175 |
|
|
1,307,705 |
|
|
6.00%, 9/01/34 |
|
|
2,370 |
|
|
2,675,066 |
|
|
Los Rios Community College District, |
|
|
4,000 |
|
|
4,476,520 |
|
|
Norwalk-La Mirada Unified School |
|
|
7,500 |
|
|
1,772,925 |
|
|
Oak Grove School District California, GO, |
|
|
4,000 |
|
|
4,579,920 |
|
|
Ohlone Community College District, GO, |
|
|
7,135 |
|
|
8,006,326 |
|
|
Pico Rivera Public Financing Authority, |
|
|
6,025 |
|
|
6,644,972 |
|
|
Poway Unified School District, GO, CAB, |
|
|
7,500 |
|
|
1,226,475 |
|
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|
|
|
|
|
|
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|
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Municipal Bonds |
|
Par |
|
Value |
|
||
|
California (continued) |
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|
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|
|
|
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County/City/Special District/School District |
|
|
|
|
|
|
|
|
San Diego Regional Building Authority |
|
$ |
5,100 |
|
$ |
5,654,217 |
|
|
San Marcos Unified School District, GO, |
|
|
4,800 |
|
|
683,520 |
|
|
Santa Ana Unified School District, GO, |
|
|
5,995 |
|
|
6,516,445 |
|
|
Santa Clara County Financing Authority, |
|
|
15,970 |
|
|
17,525,318 |
|
|
Santa Cruz County Redevelopment |
|
|
|
|
|
|
|
|
6.63%, 9/01/29 |
|
|
1,000 |
|
|
1,161,260 |
|
|
7.00%, 9/01/36 |
|
|
510 |
|
|
603,917 |
|
|
Westminster Redevelopment Agency |
|
|
1,250 |
|
|
1,485,725 |
|
|
William S. Hart Union High School |
|
|
|
|
|
|
|
|
6.32%, 8/01/34 |
|
|
10,850 |
|
|
3,343,862 |
|
|
6.36%, 8/01/35 |
|
|
9,700 |
|
|
2,829,005 |
|
|
|
|
|
|
|
|
107,034,195 |
|
|
Education — 3.0% |
|
|
|
|
|
|
|
|
California Educational Facilities |
|
|
2,500 |
|
|
2,887,800 |
|
|
California Educational Facilities |
|
|
1,430 |
|
|
1,711,438 |
|
|
California Municipal Finance Authority, |
|
|
2,500 |
|
|
2,856,550 |
|
|
Foothill-De Anza Community College |
|
|
2,700 |
|
|
3,047,220 |
|
|
|
|
|
|
|
|
10,503,008 |
|
|
Health — 19.0% |
|
|
|
|
|
|
|
|
ABAG Finance Authority for Nonprofit |
|
|
|
|
|
|
|
|
6.38%, 8/01/34 |
|
|
2,000 |
|
|
2,122,040 |
|
|
Series A, 6.00%, 8/01/30 |
|
|
2,250 |
|
|
2,693,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD CALIFORNIA FUND, INC. |
APRIL 30, 2012 |
1 |
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|
|
Schedule of Investments (continued) |
BlackRock MuniYield California Fund, Inc. (MYC) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
California (continued) |
|
|
|
|
|
|
|
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Health (concluded) |
|
|
|
|
|
|
|
|
California Health Facilities Financing |
|
|
|
|
|
|
|
|
Children’s Hospital, Series A, |
|
$ |
5,000 |
|
$ |
5,452,900 |
|
|
Sutter Health, Series B, |
|
|
7,530 |
|
|
8,826,892 |
|
|
California Health Facilities Financing |
|
|
|
|
|
|
|
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Catholic Healthcare West, |
|
|
10,000 |
|
|
11,538,300 |
|
|
Providence Health, 6.50%, |
|
|
3,625 |
|
|
4,258,940 |
|
|
St. Joseph Health System, |
|
|
2,100 |
|
|
2,404,248 |
|
|
California Statewide Communities |
|
|
|
|
|
|
|
|
Kaiser Permanente, Series A, |
|
|
15,000 |
|
|
16,002,450 |
|
|
Health Facility, Memorial |
|
|
3,270 |
|
|
3,441,642 |
|
|
Sutter Health, Series A, 6.00%, |
|
|
7,995 |
|
|
9,371,979 |
|
|
|
|
|
|
|
|
66,112,551 |
|
|
Housing — 1.0% |
|
|
|
|
|
|
|
|
California Rural Home Mortgage |
|
|
|
|
|
|
|
|
Mortgage-Backed Securities |
|
|
5 |
|
|
5,058 |
|
|
Sub-Series FH-1, 5.50%, |
|
|
275 |
|
|
130,014 |
|
|
Santa Clara County Housing Authority |
|
|
3,500 |
|
|
3,514,700 |
|
|
|
|
|
|
|
|
3,649,772 |
|
|
State — 13.6% |
|
|
|
|
|
|
|
|
California State Public Works Board, RB: |
|
|
|
|
|
|
|
|
Department of Developmental |
|
|
1,370 |
|
|
1,571,595 |
|
|
Department of Education, |
|
|
10,000 |
|
|
11,655,400 |
|
|
Trustees of the California |
|
|
215 |
|
|
250,254 |
|
|
Various Capital Projects, Sub- |
|
|
4,400 |
|
|
5,138,320 |
|
|
State of California, GO, Various Purpose: |
|
|
|
|
|
|
|
|
6.00%, 4/01/38 |
|
|
20,000 |
|
|
23,061,800 |
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
California (continued) |
|
|
|
|
|
|
|
|
State (concluded) |
|
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|
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|
|
|
State of California, GO, Various Purpose |
|
|
|
|
|
|
|
|
6.00%, 11/01/39 |
|
$ |
4,835 |
|
$ |
5,616,191 |
|
|
|
|
|
|
|
|
47,293,560 |
|
|
Transportation — 8.3% |
|
|
|
|
|
|
|
|
City of Los Angeles Department of |
|
|
2,775 |
|
|
3,057,523 |
|
|
City of San Jose California, RB, Series A- |
|
|
|
|
|
|
|
|
6.25%, 3/01/34 |
|
|
1,400 |
|
|
1,603,266 |
|
|
(AGM), 5.50%, 3/01/30 |
|
|
1,000 |
|
|
1,104,400 |
|
|
(AGM), 5.75%, 3/01/34 |
|
|
1,000 |
|
|
1,108,700 |
|
|
County of Orange California, RB, Series |
|
|
3,000 |
|
|
3,349,560 |
|
|
County of Sacramento California, RB: |
|
|
|
|
|
|
|
|
Airport System Subordinate, |
|
|
3,000 |
|
|
3,386,130 |
|
|
Senior Series B, 5.75%, |
|
|
900 |
|
|
992,538 |
|
|
San Francisco City & County Airports |
|
|
5,065 |
|
|
5,852,202 |
|
|
San Francisco Port Commission |
|
|
5,010 |
|
|
5,375,229 |
|
|
San Joaquin County Transportation |
|
|
2,400 |
|
|
2,878,776 |
|
|
|
|
|
|
|
|
28,708,324 |
|
|
Utilities — 10.9% |
|
|
|
|
|
|
|
|
City of Chula Vista California, RB, San |
|
|
3,000 |
|
|
3,225,690 |
|
|
City of Chula Vista California, Refunding |
|
|
4,000 |
|
|
4,613,200 |
|
|
City of Los Angeles California, Refunding |
|
|
3,000 |
|
|
3,372,870 |
|
|
City of Petaluma California, Refunding |
|
|
2,645 |
|
|
3,165,430 |
|
|
Dublin-San Ramon Services District, |
|
|
2,420 |
|
|
2,878,614 |
|
|
Eastern Municipal Water District |
|
|
8,400 |
|
|
9,035,376 |
|
|
Los Angeles Department of Water & |
|
|
4,000 |
|
|
4,538,560 |
|
|
San Diego Public Facilities Financing |
|
|
3,910 |
|
|
4,452,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD CALIFORNIA FUND, INC. |
APRIL 30, 2012 |
2 |
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniYield California Fund, Inc. (MYC) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
California (concluded) |
|
|
|
|
|
|
|
|
Utilities (concluded) |
|
|
|
|
|
|
|
|
San Francisco City & County Public |
|
$ |
2,295 |
|
$ |
2,554,266 |
|
|
|
|
|
|
|
|
37,836,910 |
|
|
Total Municipal Bonds in California |
|
|
|
|
|
302,262,788 |
|
|
|
|
|
|
|
|
|
|
|
Puerto Rico — 1.1% |
|
|
|
|
|
|
|
|
County/City/Special District/School District — 1.1% |
|
|
|
|
|
|
|
|
Puerto Rico Sales Tax Financing Corp., |
|
|
|
|
|
|
|
|
CAB, Series C, 5.62%, |
|
|
5,000 |
|
|
1,175,900 |
|
|
CAB, Series C, 6.22%, |
|
|
8,750 |
|
|
1,937,162 |
|
|
Senior Series C, 5.55%, |
|
|
2,500 |
|
|
624,350 |
|
|
Total Municipal Bonds in Puerto Rico |
|
|
|
|
|
3,737,412 |
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds – 88.0% |
|
|
|
|
|
306,000,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (e) |
|
|
|
|
|
|
|
|
California — 75.5% |
|
|
|
|
|
|
|
|
County/City/Special District/School District — 37.4% |
|
|
|
|
|
|
|
|
City of Los Angeles California, Refunding |
|
|
9,870 |
|
|
10,765,900 |
|
|
Contra Costa Community College |
|
|
10,215 |
|
|
10,874,462 |
|
|
El Dorado Union High School District, |
|
|
5,000 |
|
|
5,480,700 |
|
|
Fremont Unified School District |
|
|
4,003 |
|
|
4,418,076 |
|
|
Los Angeles Community College District |
|
|
|
|
|
|
|
|
Election of 2001, Series E-1, |
|
|
14,850 |
|
|
16,353,265 |
|
|
Election of 2003, Series E (AGM), |
|
|
10,002 |
|
|
11,022,525 |
|
|
Election of 2008, Series C, |
|
|
9,680 |
|
|
11,026,004 |
|
|
Series A, 6.00%, 8/01/33 |
|
|
3,828 |
|
|
4,527,870 |
|
|
Orange County Sanitation District, COP |
|
|
9,348 |
|
|
9,893,478 |
|
|
San Diego Community College District |
|
|
7,732 |
|
|
8,874,856 |
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (e) |
|
Par |
|
Value |
|
||
|
California (continued) |
|
|
|
|
|
|
|
|
County/City/Special District/School District |
|
|
|
|
|
|
|
|
San Francisco Bay Area Rapid Transit |
|
$ |
6,000 |
|
$ |
6,577,080 |
|
|
San Francisco Bay Area Transit |
|
|
5,439 |
|
|
5,961,579 |
|
|
San Marcos Unified School District, GO, |
|
|
15,520 |
|
|
16,834,544 |
|
|
Sonoma County Junior College District, |
|
|
6,875 |
|
|
7,541,182 |
|
|
|
|
|
|
|
|
130,151,521 |
|
|
Education — 14.9% |
|
|
|
|
|
|
|
|
California Educational Facilities |
|
|
13,845 |
|
|
15,708,122 |
|
|
Peralta Community College District, GO, |
|
|
1,995 |
|
|
2,103,887 |
|
|
University of California, RB: |
|
|
|
|
|
|
|
|
Limited Project, Series B (AGM), |
|
|
8,488 |
|
|
8,840,098 |
|
|
Series L, 5.00%, 5/15/36 |
|
|
8,500 |
|
|
9,291,775 |
|
|
Series L, 5.00%, 5/15/40 |
|
|
11,597 |
|
|
12,457,547 |
|
|
Series O, 5.75%, 5/15/34 |
|
|
2,805 |
|
|
3,254,641 |
|
|
|
|
|
|
|
|
51,656,070 |
|
|
Health — 3.1% |
|
|
|
|
|
|
|
|
California Health Facilities Financing |
|
|
10,002 |
|
|
10,671,845 |
|
|
Transportation — 1.6% |
|
|
|
|
|
|
|
|
Los Angeles Department of Airports, |
|
|
4,999 |
|
|
5,429,485 |
|
|
Utilities — 18.5% |
|
|
|
|
|
|
|
|
Eastern Municipal Water District, COP, |
|
|
4,748 |
|
|
5,148,216 |
|
|
Los Angeles Department of Water & |
|
|
|
|
|
|
|
|
Sub-Series A-1 (AMBAC), 5.00%, |
|
|
15,098 |
|
|
16,322,594 |
|
|
System, Sub-Series A-2 (AGM), |
|
|
7,250 |
|
|
7,933,168 |
|
|
Metropolitan Water District of Southern |
|
|
|
|
|
|
|
|
Series A, 5.00%, 7/01/37 |
|
|
20,000 |
|
|
21,878,400 |
|
|
Series C, 5.00%, 7/01/35 |
|
|
7,145 |
|
|
7,929,568 |
|
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD CALIFORNIA FUND, INC. |
APRIL 30, 2012 |
3 |
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniYield California Fund, Inc. (MYC) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (e) |
|
Par |
|
Value |
|
||
|
California (concluded) |
|
|
|
|
|
|
|
|
Utilities (concluded) |
|
|
|
|
|
|
|
|
San Diego County Water Authority, COP, |
|
$ |
5,010 |
|
$ |
5,258,897 |
|
|
|
|
|
|
|
|
64,470,843 |
|
|
Total
Municipal Bonds Transferred to Tender Option |
|
|
|
|
|
262,379,764 |
|
|
Total
Long-Term Investments |
|
|
|
|
|
568,379,964 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
Shares |
|
|
|
|
|
|
BIF California Municipal Money |
|
|
3,228,698 |
|
|
3,228,698 |
|
|
Total
Short-Term Securities |
|
|
|
|
|
3,228,698 |
|
|
Total Investments (Cost - $526,552,692*) – 164.4% |
|
|
|
|
|
571,608,662 |
|
|
Other Assets Less Liabilities – 2.5% |
|
|
|
|
|
8,620,989 |
|
|
Liability for TOB Trust Certificates, Including
Interest |
|
|
|
|
|
(126,697,532 |
) |
|
VRDP Shares, at Liquidation Value – (30.5)% |
|
|
|
|
|
(105,900,002 |
) |
|
Net Assets Applicable to Common Shares – 100.0% |
|
|
|
|
$ |
347,632,117 |
|
|
|
|
|
* |
As of April 30, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows: |
|
|
|
|
|
|
|
Tax cost |
|
$ |
399,727,238 |
|
|
Gross unrealized appreciation |
|
$ |
45,418,172 |
|
|
Gross unrealized depreciation |
|
|
(175,506 |
) |
|
Net unrealized appreciation |
|
$ |
45,242,666 |
|
|
|
|
|
(a) |
Represents a zero-coupon bond. Rate shown reflects the current yield as of report date. |
|
|
|
|
(b) |
When-issued security. Unsettled when-issued transactions were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
Counterparty |
|
Value |
|
Unrealized |
|
||
|
|
Stone & Youngberg LLC |
|
$ |
683,520 |
|
$ |
16,272 |
|
|
|
|
|
(c) |
US 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. |
|
|
|
|
(d) |
Variable rate security. Rate shown is as of report date. |
|
|
|
|
(e) |
Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction. |
|
|
|
|
(f) |
Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliate |
|
Shares |
|
Net |
|
Shares |
|
Income |
|
||||
|
BIF California |
|
|
5,041,430 |
|
|
(1,812,732 |
) |
|
3,228,698 |
|
|
— |
|
|
|
|
|
(g) |
Represents the current yield as of report date. |
|
|
|
|
• |
Financial futures contracts sold as of April 30, 2012 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Issue |
|
Exchange |
|
Expiration |
|
Notional |
|
Unrealized |
|
|||||
|
200 |
|
|
10-Year |
|
|
Chicago |
|
|
June |
|
$ |
26,456,250 |
|
$ |
(387,880 |
) |
|
|
|
Portfolio Abbreviations |
To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:
|
|
|
|
|
AGC |
|
Assured Guaranty Corp. |
|
AGM |
|
Assured Guaranty Municipal Corp. |
|
AMBAC |
|
American Municipal Bond Assurance Corp. |
|
AMT |
|
Alternative Minimum Tax (subject to) |
|
BHAC |
|
Berkshire Hathaway Assurance Corp. |
|
CAB |
|
Capital Appreciation Bonds |
|
COP |
|
Certificates of Participation |
|
Ginnie Mae |
|
Government National Mortgage Association |
|
GO |
|
General Obligation Bonds |
|
LRB |
|
Lease Revenue Bonds |
|
MBIA |
|
MBIA Insurance Corp. |
|
NPFGC |
|
National Public Finance Guarantee Corp. |
|
RB |
|
Revenue Bonds |
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD CALIFORNIA FUND, INC. |
APRIL 30, 2012 |
4 |
|
|
|
|
|
|
|
Schedule of Investments (concluded) |
BlackRock MuniYield California Fund, Inc. (MYC) |
|
|
|
|
|
• |
For Fund compliance purposes, the Fund’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes and/or as defined by Fund management. These definitions may not apply for purposes of this report, which may combine such industry sub-classifications for reporting ease. |
|
|
|
|
|
|
• |
Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows: |
|
|
|
|
|
|
|
• |
Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities |
|
|
|
|
|
|
• |
Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
|
|
|
|
|
|
• |
Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments) |
Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative 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 investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.
The following tables summarize the inputs used as of April 30, 2012 in determining the fair valuation of the Fund’s investments and derivative financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long Term |
|
|
— |
|
$ |
568,379,964 |
|
|
— |
|
$ |
568,379,964 |
|
|
Short-Term |
|
$ |
3,228,698 |
|
|
— |
|
|
— |
|
|
3,228,698 |
|
|
Total |
|
$ |
3,228,698 |
|
$ |
568,379,964 |
|
|
— |
|
$ |
571,608,662 |
|
|
|
|
|
1 |
See above Schedule of Investments for values in each sector or political subdivision. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
Derivative Financial Instruments2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest rate |
|
$ |
(387,880 |
) |
|
— |
|
|
— |
|
$ |
(387,880 |
) |
|
|
|
|
2 |
Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
Certain of the Fund’s assets and liabilities are held at carrying amount which approximates fair value. Such assets and liabilities are categorized within the disclosure hierarchy as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash pledged |
|
$ |
264,000 |
|
|
— |
|
|
— |
|
$ |
264,000 |
|
|
Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Overdraft |
|
|
(8,823 |
) |
|
— |
|
|
— |
|
|
(8,823 |
) |
|
TOB trust |
|
|
— |
|
$ |
(126,638,758 |
) |
|
— |
|
|
(126,638,758 |
) |
|
VRDP Shares |
|
|
— |
|
|
(105,900,000 |
) |
|
— |
|
|
(105,900,000 |
) |
|
Total |
|
$ |
255,177 |
|
$ |
(232,538,758 |
) |
|
— |
|
$ |
(232,283,581 |
) |
There were no transfers between levels during the period ended April 30, 2012.
|
|
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIYIELD CALIFORNIA FUND, INC. |
APRIL 30, 2012 |
5 |
|
Item 2 – |
Controls and Procedures |
||
|
|
|
||
|
2(a) – |
The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. |
||
|
|
|
||
|
2(b) – |
There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
||
|
|
|
||
|
Item 3 – |
Exhibits |
||
|
|
|
||
|
|
Certifications – Attached hereto |
||
|
|
|
||
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. |
||
|
|
|
||
|
|
BlackRock MuniYield California Fund, Inc. |
||
|
|
|
||
| By: | /s/ John M. Perlowski | ||
| John M. Perlowski | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock MuniYield California Fund, Inc. | |||
| Date: June 22, 2012 | |||
| Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. | |||
| By: | /s/ John M. Perlowski | ||
| John M. Perlowski | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock MuniYield California Fund, Inc. | |||
| Date: June 22, 2012 | |||
| By: | /s/ Neal J. Andrews | ||
| Neal J. Andrews | |||
| Chief Financial Officer (principal financial officer) of | |||
| BlackRock MuniYield California Fund, Inc. | |||
| Date: June 22, 2012 | |||