UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
Washington,D.C.20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-06502
Name of Fund: BlackRock MuniYield Investment Fund (MYF)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock
MuniYield Investment Fund, 55 East 52nd Street, New York, NY 10055.
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 07/31/2010
Date of reporting period: 10/31/2009
Item 1 Schedule of Investments
BlackRock MuniYield Investment Fund (MYF) | ||||
Schedule of Investments October 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
State | Municipal Bonds | (000) | Value | |
California - 10.4% | California Health Facilities Financing Authority, California, RB, Catholic | |||
Healthcare West, Series A, 6.00%, 7/01/39 | $ 710 $ | 742,241 | ||
California Health Facilities Financing Authority, RB, Cedars-Sinai Medical | ||||
Center, 5.00%, 8/15/39 | 1,590 | 1,478,414 | ||
California Health Facilities Financing Authority, RB, Saint Joseph Health | ||||
System, Series A, 5.75%, 7/01/39 | 2,700 | 2,799,063 | ||
California State Public Works Board, RB, Department General Services, | ||||
Buildings 8 & 9, Series A, 6.25%, 4/01/34 | 4,525 | 4,694,190 | ||
Los Angeles Department of Water & Power, RB, Power System, Sub-Series | ||||
A 1, 5.25%, 7/01/38 | 3,300 | 3,471,006 | ||
San Diego Regional Building Authority, California, RB, County Operations | ||||
Center & Annex, Series A, 5.38%, 2/01/36 | 3,310 | 3,410,657 | ||
San Francisco City & County Airports Commission, Refunding RB, | ||||
2nd Series A-3, AMT, 6.75%, 5/01/34 | 2,500 | 2,648,900 | ||
19,244,471 | ||||
Colorado - 3.4% | City & County of Denver, Colorado, Refunding RB, Series A, | |||
5.25%, 11/15/36 | 4,050 | 4,026,712 | ||
Colorado Health Facilities Authority, Refunding RB, Catholic Healthcare, | ||||
Series A, 5.50%, 7/01/34 (a) | 2,150 | 2,190,183 | ||
6,216,895 | ||||
District of Columbia - | District of Columbia Water & Sewer Authority, RB, Series A, | |||
1.2% | 5.25%, 10/01/29 | 2,000 | 2,119,680 | |
Florida - 35.1% | Broward County Educational Facilities Authority, RB, Educational | |||
Facilities, Nova Southeastern (AGC), 5.00%, 4/01/31 | 2,210 | 2,215,923 | ||
City of Jacksonville, Florida, RB, Series B (MBIA), 5.13%, 10/01/32 | 1,500 | 1,494,930 | ||
City of Jacksonville, Florida, Refunding RB & Improvement (MBIA), 5.25%, | ||||
10/01/32 | 2,315 | 2,337,942 | ||
City of Miami Beach, Florida, RB, Water and Sewer (AMBAC), 5.75%, | ||||
9/01/25 | 3,000 | 3,089,400 | ||
City of Port Saint Lucie, Florida, RB (MBIA), 5.25%, 9/01/25 | 1,215 | 1,236,165 | ||
County of Broward, Florida, RB, Series I, AMT (AMBAC), | ||||
5.75%, 10/01/18 | 2,870 | 2,947,490 | ||
County of Hillsborough, Florida, RB (AMBAC), 5.40%, 11/01/12 (b) | 1,055 | 1,189,502 |
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. | GO | General Obligation Bonds |
AMBAC | American Municipal Bond Assurance Corp. | HFA | Housing Finance Agency |
AMT | Alternative Minimum Tax (subject to) | IDA | Industrial Development Authority |
ARB | Airport Revenue Bond | ISD | Independent School District |
CIFG | CDC IXIS Financial Guaranty | MBIA | Municipal Bond Investors Assurance |
COP | Certificates of Participation | (National Public Finance Guaranty Corp.) | |
EDA | Economic Development Authority | RB | Revenue Bonds |
FSA | Financial Security Assurance Inc. | S/F | Single-Family |
GNMA | Government National Mortgage Association |
1
BlackRock MuniYield Investment Fund (MYF) | ||||
Schedule of Investments October 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
State | Municipal Bonds | (000) | Value | |
County of Miami-Dade, Florida, RB, Miami International Airport, Series A, | ||||
AMT (FSA), 5.25%, 10/01/41 | $ 1,800 | $ 1,748,646 | ||
County of Miami-Dade, Florida, RB, Miami International Airport, Series A, | ||||
AMT (FSA), 5.50%, 10/01/41 | 2,930 | 2,942,365 | ||
County of Miami-Dade, Florida, RB, Miami International Airport, Series A, | ||||
AMT (MBIA), 6.00%, 10/01/29 | 3,275 | 3,315,807 | ||
County of Miami-Dade, Florida, RB, Series A, AMT (FSA), | ||||
5.00%, 10/01/33 | 2,625 | 2,471,359 | ||
County of Orange, Florida, Refunding RB (AMBAC), 5.00%, 10/01/29 | 1,750 | 1,782,217 | ||
County of Osceola, Florida, RB, Series A (MBIA), 5.50%, 10/01/27 | 1,760 | 1,794,074 | ||
County of Palm Beach, Florida, RB (MBIA), 7.20%, 6/01/15 | 3,340 | 3,989,463 | ||
County of Sumter, Florida, RB (AMBAC), 5.00%, 6/01/26 | 2,190 | 2,229,245 | ||
County of Sumter, Florida, RB (AMBAC), 5.00%, 6/01/30 | 2,475 | 2,488,687 | ||
Duval County HFA, RB, AMT (GNMA), 5.40%, 10/01/21 | 645 | 634,190 | ||
Florida Housing Finance Corp., RB, Homeowner Mortgage, Series 4, AMT | ||||
(FSA), 6.25%, 7/01/22 | 355 | 362,441 | ||
Florida Municipal Loan Council, RB, Series A-1 (MBIA), | ||||
5.13%, 7/01/34 | 1,580 | 1,544,197 | ||
Florida Municipal Loan Council, RB, Series B (MBIA), 5.38%, 11/01/30 | 4,250 | 4,269,592 | ||
Hillsborough County Aviation Authority, Florida, RB, Series C, AMT (AGC), | ||||
5.75%, 10/01/26 | 1,000 | 1,033,760 | ||
Hillsborough County IDA, RB, National Gypsum, Series A, AMT, 7.13%, | ||||
4/01/30 | 2,500 | 1,723,925 | ||
Hillsborough County IDA, RB, National Gypsum, Series B, AMT, 7.13%, | ||||
4/01/30 | 3,750 | 2,585,888 | ||
Lee County HFA, RB, Multi-County Program, Series A-1, AMT (GNMA), | ||||
7.13%, 3/01/28 | 30 | 30,459 | ||
Manatee County HFA, Refunding RB, S/F, Sub-Series 1, AMT (GNMA), | ||||
6.25%, 11/01/28 | 100 | 102,003 | ||
Martin County Health Facilities Authority, RB, Martin Memorial Medical | ||||
Center, Series A, 5.75%, 11/15/12 (b) | 1,350 | 1,542,874 | ||
Martin County Health Facilities Authority, RB, Martin Memorial Medical | ||||
Center, Series A, 5.88%, 11/15/12 (b) | 1,535 | 1,760,016 | ||
Miami-Dade County HFA, Florida, RB, Home Ownership Mortgage, | ||||
Series A-1, AMT (GNMA), 6.30%, 10/01/20 | 365 | 372,424 | ||
Orlando & Orange County Expressway Authority, RB, Series B (AMBAC), | ||||
5.00%, 7/01/30 | 250 | 251,982 | ||
Pinellas County HFA, RB, Multi-County Program, Series A-1, AMT (GNMA), | ||||
6.30%, 9/01/20 | 240 | 244,882 | ||
Pinellas County HFA, RB, Multi-County Program, Series A-1, AMT (GNMA), | ||||
6.35%, 9/01/25 | 340 | 347,021 | ||
Santa Rosa County School Board, COP, Series 2 (MBIA), 5.25%, 2/01/26 | 1,180 | 1,223,778 | ||
South Lake County Hospital District, RB, South Lake Hospital Inc., 6.38%, | ||||
10/01/34 | 1,150 | 1,151,300 | ||
Village Center Community Development District Recreational Revenue, | ||||
RB, Series A (MBIA), 5.38%, 11/01/34 | 1,995 | 1,827,360 |
2
BlackRock MuniYield Investment Fund (MYF) | ||||
Schedule of Investments October 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
State | Municipal Bonds | (000) | Value | |
Village Center Community Development District Recreational Revenue, | ||||
RB, Series A (MBIA), 5.13%, 11/01/36 | $ 1,000 $ | 871,710 | ||
Village Center Community Development District Utility Revenue, RB | ||||
(MBIA), 5.13%, 10/01/28 | 5,040 | 4,876,754 | ||
Volusia County IDA, RB, Student Housing, Stetson University Project, | ||||
Series A (CIFG), 5.00%, 6/01/35 | 1,000 | 861,840 | ||
64,891,611 | ||||
Georgia - 8.4% | City of Atlanta, Georgia, RB, General, Subordinate Lien, Series C (FSA), | |||
5.00%, 1/01/33 | 3,270 | 3,303,648 | ||
County of Fulton, Georgia, RB (MBIA), 5.25%, 1/01/35 | 1,000 | 1,021,680 | ||
Metropolitan Atlanta Rapid Transit Authority, RB, 3rd Series, | ||||
5.00%, 7/01/39 | 4,815 | 4,918,378 | ||
Municipal Electric Authority of Georgia, RB, General Resolution Projects, | ||||
Sub-Series D, 6.00%, 1/01/23 | 5,600 | 6,308,400 | ||
15,552,106 | ||||
Illinois - 2.4% | Illinois Finance Authority, RB, Northwestern Memorial Hospital, Series A, | |||
6.00%, 8/15/39 | 4,160 | 4,478,614 | ||
Indiana - 2.6% | Indiana Municipal Power Agency, Indiana, RB, Indiana Muni Power Agency, | |||
Series B, 6.00%, 1/01/39 | 4,525 | 4,854,194 | ||
Kansas - 1.8% | Kansas Development Finance Authority, RB, Adventist Health, 5.50%, | |||
11/15/29 | 3,250 | 3,335,670 | ||
Kentucky - 3.6% | Louisville & Jefferson County Metropolitan Government Parking Authority, | |||
RB, Series A, 5.75%, 12/01/34 | 3,200 | 3,467,008 | ||
Louisville & Jefferson County Metropolitan Government, RB, Jewish | ||||
Hospital Saint Mary's Healthcare, 6.13%, 2/01/37 | 2,955 | 3,087,857 | ||
6,554,865 | ||||
Maine - 1.2% | Maine State Housing Authority, Maine, RB, Series C, AMT, | |||
5.45%, 11/15/23 | 2,285 | 2,286,531 | ||
Massachusetts - 2.6% | Massachusetts HFA, Massachusetts, RB, Housing, Series F, AMT, 5.70%, | |||
6/01/40 | 2,125 | 2,129,356 | ||
Massachusetts Health & Educational Facilities Authority, RB, Tufts | ||||
University, 5.38%, 8/15/38 | 1,500 | 1,606,710 | ||
Massachusetts State College Building Authority, RB, Series A, | ||||
5.50%, 5/01/39 | 1,000 | 1,047,470 | ||
4,783,536 | ||||
Michigan - 3.4% | Michigan State Building Authority, Refunding RB, Facilities Program, | |||
Series I, 6.00%, 10/15/38 | 1,250 | 1,325,450 | ||
Michigan State Hospital Finance Authority, Refunding RB, Hospital, Henry | ||||
Ford Health, 5.75%, 11/15/39 (a) | 2,785 | 2,669,840 | ||
Royal Oak Hospital Finance Authority, Michigan, RB, William Beaumont | ||||
Hospital, 8.25%, 9/01/39 | 1,970 | 2,287,938 | ||
6,283,228 | ||||
Nevada - 1.7% | City of Las Vegas, Nevada, GO, Limited Tax, Performing Arts Center, | |||
6.00%, 4/01/34 | 2,850 | 3,108,837 |
3
BlackRock MuniYield Investment Fund (MYF) | ||||
Schedule of Investments October 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
State | Municipal Bonds | (000) | Value | |
New Jersey - 4.0% | New Jersey EDA, Refunding RB, New Jersey American Water Co., Series A, | |||
AMT, 5.70%, 10/01/39 | $ 2,250 $ | 2,200,275 | ||
New Jersey State Housing & Mortgage Finance Agency, RB, S/F Housing, | ||||
Series CC, 5.25%, 10/01/29 (a) | 2,290 | 2,355,013 | ||
New Jersey Transportation Trust Fund Authority, New Jersey, RB, | ||||
Transportation System, Series A, 5.88%, 12/15/38 | 2,670 | 2,888,112 | ||
7,443,400 | ||||
New York - 7.3% | Long Island Power Authority, RB, Series A, 5.50%, 4/01/24 | 1,600 | 1,725,504 | |
New York City Transitional Finance Authority, RB, Fiscal 2009, Series S-3, | ||||
5.25%, 1/15/39 | 2,500 | 2,595,950 | ||
New York State Dormitory Authority, RB, Education, Series B, | ||||
5.25%, 3/15/38 | 5,700 | 5,966,019 | ||
Triborough Bridge & Tunnel Authority, New York, RB, General, Series A-2, | ||||
5.38%, 11/15/38 | 3,030 | 3,227,405 | ||
13,514,878 | ||||
North Carolina - 2.2% | North Carolina Eastern Municipal Power Agency, North Carolina, RB, | |||
Series B, 5.00%, 1/01/26 | 885 | 901,231 | ||
North Carolina Medical Care Commission, RB, Duke University Health | ||||
System, Series A, 5.00%, 6/01/42 (a) | 2,660 | 2,609,540 | ||
North Carolina Municipal Power Agency, RB, No. 1 Catawba, North | ||||
Carolina, Series A, 5.00%, 1/01/30 | 630 | 635,494 | ||
4,146,265 | ||||
Ohio - 1.0% | Ohio Air Quality Development Authority, RB, Ohio Valley Electric Corp., | |||
5.63%, 10/01/19 | 1,910 | 1,904,308 | ||
Pennsylvania - 3.7% | Pennsylvania Economic Development Financing Authority, RB, | |||
Pennsylvania, American Water Co. Project, 6.20%, 4/01/39 | 1,075 | 1,145,961 | ||
Pennsylvania Turnpike Commission, RB, Sub-Series B, | ||||
5.25%, 6/01/39 | 5,650 | 5,621,128 | ||
6,767,089 | ||||
Puerto Rico - 4.0% | Puerto Rico HFA, RB, Sub-Capital Fund Modernization, | |||
5.13%, 12/01/27 | 3,000 | 2,994,600 | ||
Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A, 5.75%, | ||||
8/01/37 | 4,200 | 4,345,320 | ||
7,339,920 | ||||
Texas - 4.1% | Conroe ISD, Texas, GO, School Building, Series A, 5.75%, 2/15/35 | 1,800 | 1,937,376 | |
Harris County Health Facilities Development Corp., Refunding RB, | ||||
Memorial Hermann Healthcare System, Series B, 7.25%, 12/01/35 | 800 | 894,160 | ||
Houston Texas Airport Systems Revenue, Refunding ARB, Senior Lien, | ||||
Series A, 5.50%, 7/01/39 | 1,170 | 1,213,571 | ||
Lower Colorado River Authority, Refunding RB, 5.75%, 5/15/28 | 1,620 | 1,699,688 | ||
North Texas Tollway Authority, Refunding RB, System, First Tier, Series K- | ||||
1 (AGC), 5.75%, 1/01/38 | 1,750 | 1,853,372 | ||
7,598,167 | ||||
Utah - 1.2% | City of Riverton, Utah, RB, IHC Health Services Inc., 5.00%, 8/15/41 (a) | 2,370 | 2,296,483 | |
Virginia - 1.1% | Virginia Public School Authority, Virginia, RB, School Financing, 6.50%, | |||
12/01/35 | 1,700 | 1,953,929 |
4
BlackRock MuniYield Investment Fund (MYF) | ||||
Schedule of Investments October 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
State | Municipal Bonds | (000) | Value | |
Wyoming - 1.4% | County of Sweetwater, Wyoming, Refunding RB, Idaho Power Co. Project, | |||
5.25%, 7/15/26 | $ 2,430 $ | 2,514,807 | ||
Total Municipal Bonds - 107.8% | 199,189,484 | |||
Municipal Bonds Transferred to | ||||
Tender Option Bond Trusts (c) | ||||
California - 15.7% | Bay Area Toll Authority, Refunding RB, San Francisco Bay Area, Series F1, | |||
5.63%, 4/01/44 | 2,680 | 2,886,730 | ||
California Educational Facilities Authority, RB, University of Southern | ||||
California, Series A, 5.25%, 10/01/39 | 4,200 | 4,426,002 | ||
Los Angeles Community College District, California, GO, Election of 2008, | ||||
Series A, 6.00%, 8/01/33 | 7,697 | 8,696,969 | ||
Los Angeles Unified School District, California, GO, Series I, | ||||
5.00%, 1/01/34 | 790 | 799,006 | ||
San Diego Public Facilities Financing Authority, Refunding RB, Series B, | ||||
5.50%, 8/01/39 | 8,415 | 8,942,957 | ||
University of California, RB, Series O, 5.75%, 5/15/34 | 3,000 | 3,317,670 | ||
29,069,334 | ||||
District of Columbia - | District of Columbia, RB, Series A, 5.50%, 12/01/30 | 2,805 | 3,087,660 | |
3.7% | District of Columbia, Water & Sewer Authority, RB, Series A, 5.50%, | |||
10/01/39 | 3,507 | 3,744,279 | ||
6,831,939 | ||||
Florida - 14.2% | City of Jacksonville, Florida, RB, Better Jacksonville (MBIA), 5.00%, | |||
10/01/27 | 2,700 | 2,757,645 | ||
Hillsborough County Aviation Authority, Florida, RB, Series A, AMT (AGC), | ||||
5.50%, 10/01/38 | 3,869 | 3,890,360 | ||
Jacksonville Electric Authority, RB, River Power Park, Issue Three Series | ||||
Two, 5.00%, 10/01/37 | 2,100 | 2,102,625 | ||
Lee County HFA, RB, Multi-County Program, Series A-2, AMT (GNMA), | ||||
6.00%, 9/01/40 | 2,250 | 2,413,890 | ||
Manatee County HFA, RB, Series A, AMT (GNMA), 5.90%, 9/01/40 | 1,141 | 1,161,883 | ||
Polk County School Board, COP, Master Lease, Series A (FSA), 5.50%, | ||||
1/01/25 | 4,380 | 4,510,130 | ||
South Broward Hospital District, Florida, RB (MBIA), 5.63%, 5/01/12 (c) | 8,500 | 9,468,320 | ||
26,304,853 | ||||
Illinois - 4.3% | Illinois Finance Authority, RB, University of Chicago, Series B, 6.25%, | |||
7/01/38 | 5,300 | 5,995,890 | ||
Illinois State Toll Highway Authority, RB, Series B, 5.50%, 1/01/33 | 1,750 | 1,870,568 | ||
7,866,458 | ||||
Nevada - 6.3% | Clark County Water Reclamation District, GO, Limited Tax, 6.00%, | |||
7/01/38 | 5,000 | 5,487,950 | ||
Clark County Water Reclamation District, GO, Series B, 5.50%, | ||||
7/01/29 | 5,668 | 6,159,402 | ||
11,647,352 | ||||
New Hampshire - 1.3% | New Hampshire Health & Education Facilities Authority, Refunding RB, | |||
Dartmouth College, 5.25%, 6/01/39 | 2,159 | 2,309,904 | ||
New York - 1.5% | New York City Municipal Water Finance Authority, RB, Series FF-2, 5.50%, | |||
6/15/40 | 2,504 | 2,714,600 |
5
BlackRock MuniYield Investment Fund (MYF) | ||||
Schedule of Investments October 31, 2009 (Unaudited) | (Percentages shown are based on Net Assets) | |||
Par | ||||
State | Municipal Bonds Transferred to Tender Option Bond Trusts (c) | (000) | Value | |
South Carolina - 1.9% | South Carolina State Public Service Authority, RB, Santee Cooper, Series | |||
A, 5.50%, 1/01/38 | $ 3,240 $ | 3,460,935 | ||
Texas - 5.3% | City of San Antonio, Texas, Refunding RB, Series A, 5.25%, 2/01/31 | 3,989 | 4,210,139 | |
Harris County Cultural Education Facilities Finance Corp., RB, Hospital, | ||||
Texas Children's Hospital Project, 5.50%, 10/01/39 | 5,400 | 5,562,054 | ||
9,772,193 | ||||
Virginia - 1.0% | Fairfax County IDA, Virginia, Refunding RB, Health Care, Inova Health | |||
System, Series A, 5.50%, 5/15/35 | 1,749 | 1,836,154 | ||
Wisconsin - 1.7% | Wisconsin Health & Educational Facilities Authority, Refunding RB, | |||
Froedtert & Community Health Inc., 5.25%, 4/01/39 | 3,290 | 3,231,387 | ||
Total Municipal Bonds Transferred to | ||||
Tender Option Bond Trusts - 56.9% | 105,045,109 | |||
Total Long-Term Investments | ||||
(Cost - $294,445,739) - 164.7% | 304,234,593 | |||
Short-Term Securities | Shares | |||
FFI Institutional Tax-Exempt Fund, 0.32% (d)(e) | 2,600,000 | 2,600,000 | ||
Total Short-Term Securities | ||||
(Cost - $2,600,000) - 1.4% | 2,600,000 | |||
Total Investments (Cost - $297,045,739*) - 166.1% | 306,834,593 | |||
Liabilities in Excess of Other Assets - (3.6)% | (6,634,762) | |||
Liability for Trust Certificates, Including | ||||
Interest Expense and Fees Payable - (30.3)% | (56,038,947) | |||
Preferred Shares, at Redemption Value - (32.2)% | (59,480,541) | |||
Net Assets Applicable to Common Shares - 100.0% | $ 184,680,343 |
* The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009,
as computed for federal income tax purposes, were as follows: | |||
Aggregate cost | $ 242,144,800 | ||
Gross unrealized appreciation | $ 13,452,100 | ||
Gross unrealized depreciation | (4,754,951) | ||
Net unrealized appreciation | $ 8,697,149 | ||
(a) | When-issued security. | ||
Unrealized | |||
Appreciation | |||
Counterparty | Market Value | (Depreciation) | |
Citigroup NA | $ 5,279,380 $ | (35,339) | |
JPMorgan Chase Bank NA | $ 2,296,483 | (36,238) | |
Merrill Lynch & Co. | $ 2,355,013 | 1,214 | |
Morgan Stanley Capital | |||
Securities Inc. | $ 2,190,183 | (16,276) |
(b) 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.
(c) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund
acquired residual interest certificates. These securities serve as collateral in a financing transaction.
6
BlackRock MuniYield Investment Fund (MYF)
Schedule of Investments October 31, 2009 (Unaudited)
(d) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, were as follows:
Net | |||
Affiliate | Activity | Income | |
FFI Institutional Tax-Exempt | |||
Fund | $ 1,199,949 | $ 4,490 |
(e) Represents the current yield as of report date.
Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:
Level 1 - 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)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with
investing in those securities. For information about the Fund's policy regarding valuation of investments and other
significant accounting policies, please refer to the Fund's most recent financial statements as contained in its semi-
annual report.
The following table summarizes the inputs used as of October 31, 2009 in determining the fair valuation of the Fund's
investments:
Investments in | |
Valuation Inputs | Securities |
Assets | |
Level 1 - Short-Term Securities | $ 2,600,000 |
Level 2 - Long-Term Investments1 | 304,234,593 |
Level 3 | - |
Total | $ 306,834,593 |
1 See above Schedule of Investments for values in each state or political subdivision.
7
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 13(a)-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 Investment Fund
By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer of
BlackRock MuniYield Investment Fund
Date: December 18, 2009
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/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
BlackRock MuniYield Investment Fund
Date: December 18, 2009
By: /s/ Neal J.
Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniYield Investment Fund
Date: December 18, 2009