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 811-5611
Name of Fund: BlackRock MuniVest Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, BlackRock MuniVest Fund, Inc., 800 Scudders Mill Road,
Plainsboro, NJ 08536. Mailing address: P.O. Box 9011, Princeton, NJ
08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 08/31/2007
Date of reporting period: 03/01/07 - 05/31/07
Item 1 - Schedule of Investments
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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Alabama - 3.9% $ 2,550 Camden, Alabama, IDB, Exempt Facilities Revenue Bonds (Weyerhaeuser Company),
Series A, 6.125% due 12/01/2024 $ 2,777
3,500 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series A, 5.75% due
6/01/2011 (a) 3,764
5,000 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series B, 5.75% due
6/01/2012 (a) 5,443
6,500 Prattville, Alabama, IDB, Environmental Improvement Revenue Bonds (International
Paper Company Projects), AMT, Series A, 4.75% due 12/01/2030 6,273
5,000 Selma, Alabama, IDB, Environmental Improvement Revenue Refunding Bonds (International
Paper Company Project), Series B, 5.50% due 5/01/2020 5,264
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Arizona - 1.9% 4,100 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project 1), Series A, 6.75% due 7/01/2029 4,172
2,100 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project),
Series E, 7.25% due 7/01/2031 2,324
500 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project),
Series I, 6.10% due 7/01/2024 531
1,000 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project),
Series I, 6.30% due 7/01/2031 1,071
560 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools
Project II), Series A, 6.75% due 7/01/2011 (a) 617
1,005 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools
Project II), Series A, 6.75% due 7/01/2021 1,076
1,545 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools
Project), Series O, 5% due 7/01/2026 1,541
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California - 22.4% 9,290 California HFA, Home Mortgage Revenue Bonds, AMT, Series E, 4.75% due 2/01/2030 9,150
18,850 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente),
Series A, 5.25% due 4/01/2039 19,495
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Portfolio Abbreviations
To simplify the listings of BlackRock MuniVest Fund, Inc.'s portfolio holdings
in the Schedule of Investments, we have abbreviated the names of many of the
securities according to the list below.
AMT Alternative Minimum Tax (subject to)
DRIVERS Derivative Inverse Tax-Exempt Receipts
EDA Economic Development Authority
GO General Obligation Bonds
HDA Housing Development Authority
HFA Housing Finance Agency
IDA Industrial Development Authority
IDB Industrial Development Board
IDR Industrial Development Revenue Bonds
M/F Multi-Family
PCR Pollution Control Revenue Bonds
RIB Residual Interest Bonds
S/F Single-Family
VRDN Variable Rate Demand Notes
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 10,665 California State, GO, 5.50% due 4/01/2014 (a) $ 11,699
10 California State, GO, 5.50% due 4/01/2030 11
5,000 California State Public Works Board, Lease Revenue Bonds (Department of Corrections),
Series C, 5.50% due 6/01/2022 5,420
6,000 California State Public Works Board, Lease Revenue Bonds (Department of Corrections),
Series C, 5.50% due 6/01/2023 6,507
11,075 California State Public Works Board, Lease Revenue Bonds (Department of Mental Health
- Coalinga State Hospital), Series A, 5.125% due 6/01/2029 11,527
11,250 California State, Various Purpose, GO, 5.50% due 11/01/2033 12,111
5,240 California Statewide Communities Development Authority, Health Facility Revenue Bonds
(Memorial Health Services), Series A, 6% due 10/01/2023 5,667
1,250 Chula Vista, California, IDR (San Diego Gas and Electric Company), AMT, Series B, 5%
due 12/01/2027 1,291
10,725 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-3, 7.875% due 6/01/2013 (a) 12,942
3,750 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-4, 7.80% due 6/01/2013 (a) 4,511
1,425 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-5, 7.875% due 6/01/2013 (a) 1,719
13,900 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series B, 5.375% due 6/01/2010 (a) 14,507
14,800 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Refunding Bonds, Senior Series A-1, 5.125% due 6/01/2047 14,676
3,300 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Refunding Bonds, Senior Series A-1, 5.75% due 6/01/2047 3,492
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Colorado - 1.1% 2,500 Colorado HFA, Revenue Refunding Bonds (Adventist Health System/Sunbelt Obligor Group),
Series D, 5.125% due 11/15/2029 2,584
560 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2, 6.60%
due 5/01/2028 575
200 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2, 7.50%
due 4/01/2031 201
3,000 Colorado Health Facilities Authority Revenue Bonds (Lutheran Medical Center),
Series A, 5.25% due 6/01/2034 3,074
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Connecticut - 0.5% 2,810 Mohegan Tribe Indians Gaming Authority, Connecticut, Public Improvement Revenue
Refunding Bonds (Priority Distribution), 6.25% due 1/01/2031 2,974
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Florida - 4.8% 6,000 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), Series C, 5.25% due 11/15/2036 6,212
11,460 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Refunding
Bonds (Adventist Health System), Series G, 5.125% due 11/15/2032 11,740
10,320 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), 5.625% due 11/15/2012 (a) 11,239
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BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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Georgia - 3.4% $ 1,100 Gainesville, Georgia, Redevelopment Authority, Educational Facilities Revenue
Refunding Bonds (Riverside Military Academy), 5.125% due 3/01/2037 $ 1,115
250 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series W, 6.60%
due 1/01/2018 (e) 284
4,600 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series W, 6.60%
due 1/01/2018 5,261
250 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series Y, 10%
due 1/01/2010 (e) 287
4,390 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds (Georgia
College and State University Foundation), 5.50% due 9/01/2014 (a) 4,671
3,500 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds (Georgia
College and State University Foundation), 5.625% due 9/01/2014 (a) 3,748
4,785 Monroe County, Georgia, Development Authority, PCR, Refunding (Oglethorpe Power
Corporation-Scherer), Series A, 6.80% due 1/01/2011 5,221
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Idaho - 0.1% 330 Idaho Housing Agency, S/F Mortgage Revenue Refunding Bonds, AMT, Series E-2, 6.90%
due 1/01/2027 338
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Illinois - 11.5% 5,000 Chicago, Illinois, O'Hare International Airport, General Airport Revenue Refunding
Bonds, Third Lien, AMT, Series A, 5.75% due 1/01/2019 (c) 5,318
11,200 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT,
Series B-2, 6% due 1/01/2029 (n) 12,444
75 Chicago, Illinois, S/F Mortgage Revenue Bonds, AMT, Series C, 7% due 3/01/2032 (d)(k) 77
10,000 Hodgkins, Illinois, Environmental Improvement Revenue Bonds (Metro Biosolids
Management LLC Project), AMT, 6% due 11/01/2023 10,312
2,140 Illinois Development Finance Authority Revenue Bonds (Community Rehabilitation
Providers Facilities), Series A, 6.50% due 7/01/2022 2,299
1,365 Illinois Development Finance Authority, Revenue Refunding Bonds (Community
Rehabilitation Providers Facilities), Series A, 6% due 7/01/2015 1,380
455 Illinois HDA, Revenue Refunding Bonds (M/F Program), Series 5, 6.75% due 9/01/2023 460
2,695 Illinois State Finance Authority, Revenue Bonds (Community Rehabilitation Providers
Facilities), 4.625% due 7/01/2027 2,631
13 Kane and De Kalb Counties, Illinois, Community Unit School District Number 302, GO,
DRIVERS, Series 283, 7.313% due 2/01/2018 (f)(m) 15
1,005 McLean and Woodford Counties, Illinois, Community Unit School District Number 005,
GO, Refunding, 6.25% due 12/01/2014 (i) 1,101
845 McLean and Woodford Counties, Illinois, Community Unit School District Number 005,
GO, Refunding, 6.375% due 12/01/2016 (i) 931
18,550 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue
Refunding Bonds (McCormick Place Expansion Project), Series B, 5.75% due 6/15/2023 (c) 20,099
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 3,500 Regional Transportation Authority, Illinois, Revenue Bonds, Series A, 7.20% due
11/01/2020 (h) $ 4,267
4,000 Regional Transportation Authority, Illinois, Revenue Bonds, Series C, 7.75% due
6/01/2020 (f) 5,368
1,870 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2010 (a)(i) 2,026
505 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2013 (i) 545
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Indiana - 9.0% 16,350 Indiana Health and Educational Facilities Financing Authority, Hospital Revenue Bonds
(Clarian Health Obligation), Series A, 5.25% due 2/15/2040 16,820
6,500 Indiana Health and Educational Facilities Financing Authority, Hospital Revenue
Refunding Bonds (Clarian Health Obligation), Series B, 5% due 2/15/2033 6,563
4,290 Indiana State, HFA, S/F Mortgage Revenue Refunding Bonds, Series A, 6.80% due
1/01/2017 (j) 4,390
8,195 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 6.80% due
12/01/2016 9,521
15,335 Indianapolis, Indiana, Local Public Improvement Bond Bank, Revenue Refunding Bonds,
Series D, 6.75% due 2/01/2014 17,144
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Kansas - 0.6% 3,805 Sedgwick and Shawnee Counties, Kansas, S/F Mortgage Revenue Bonds (Mortgage-Backed
Securities Program), AMT, Series A-4, 5.95% due 12/01/2033 (d) 3,857
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Kentucky - 3.5% 20,100 Louisville and Jefferson County, Kentucky, Metropolitan Government Health System,
Revenue Refunding Bonds (Norton Healthcare, Inc.), 5.25% due 10/01/2036 20,788
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Louisiana - 3.1% 6,220 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan
Missionaries of Our Lady Health System, Inc.), Series A, 5% due 8/15/2033 6,328
11,660 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan
Missionaries of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 12,076
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Maine - 0.3% 775 Portland, Maine, Housing Development Corporation, Senior Living Revenue Bonds (Avesta
Housing Development Corporation Project), Series A, 5.70% due 8/01/2021 808
1,190 Portland, Maine, Housing Development Corporation, Senior Living Revenue Bonds (Avesta
Housing Development Corporation Project), Series A, 6% due 2/01/2034 1,251
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Maryland - 2.0% 9,030 Maryland State Community Development Administration, Department of Housing and
Community Development, Residential Revenue Refunding Bonds, AMT, Series D, 4.85%
due 9/01/2037 8,930
3,250 Maryland State Community Development Administration, Department of Housing and
Community Development, Residential Revenue Refunding Bonds, AMT, Series D, 4.90%
due 9/01/2042 3,212
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Massachusetts - 8.1% 2,035 Boston, Massachusetts, Water and Sewer Commission Revenue Bonds, 9.25% due 1/01/2011 (e) 2,344
3,010 Massachusetts Bay Transportation Authority, Revenue Refunding Bonds (General
Transportation System), Series A, 7% due 3/01/2019 3,648
3,955 Massachusetts State, HFA, Housing Revenue Refunding Bonds, AMT, Series D, 4.85% due
6/01/2040 3,885
30,000 Massachusetts State Water Resource Authority Revenue Bonds, Series A, 6.50% due
7/15/2019 (e) 35,312
3,480 Massachusetts State Water Resource Authority, Revenue Refunding Bonds, Series A, 6%
due 8/01/2010 (a)(f) 3,728
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BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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Michigan - 8.6% $ 2,500 Delta County, Michigan, Economic Development Corporation, Environmental Improvement
Revenue Refunding Bonds (Mead Westvaco-Escanaba), Series A, 6.25% due 4/15/2012 (a) $ 2,754
3,715 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount
Clemens General Hospital), Series B, 5.75% due 11/15/2025 3,879
4,250 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount
Clemens General Hospital), Series B, 5.875% due 11/15/2034 4,491
1,900 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds
(Crittenton Hospital), Series A, 5.625% due 3/01/2027 2,017
3,125 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Oakwood
Obligated Group), Series A, 5% due 7/15/2025 3,182
2,000 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Oakwood
Obligated Group), Series A, 5% due 7/15/2037 2,020
5,500 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds (Sparrow
Obligated Group), 5% due 11/15/2031 5,598
3,650 Michigan State Hospital Finance Authority Revenue Bonds (Mid-Michigan Obligor Group),
Series A, 5% due 4/15/2036 3,697
9,000 Michigan State Hospital Finance Authority Revenue Bonds (Trinity Health Credit
Group), Series A, 5% due 12/01/2031 9,233
3,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health
System), Series A, 5.25% due 11/15/2032 3,122
10,600 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Henry Ford Health
System), Series A, 5% due 11/15/2038 10,751
1,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds (Sinai Hospital),
6.70% due 1/01/2026 1,008
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Minnesota - 1.5% 7,235 Minneapolis, Minnesota, Health Care System Revenue Bonds (Allina Health System),
Series A, 5.75% due 11/15/2032 7,690
1,405 Saint Cloud, Minnesota, Health Care Revenue Refunding Bonds (Saint Cloud Hospital
Obligation Group), Series A, 6.25% due 5/01/2017 (i) 1,503
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Mississippi - 6.2% 9,160 Lowndes County, Mississippi, Solid Waste Disposal and PCR, Refunding (Weyerhaeuser
Company Project), Series A, 6.80% due 4/01/2022 11,095
4,500 Lowndes County, Mississippi, Solid Waste Disposal and PCR, Refunding (Weyerhaeuser
Company Project), Series B, 6.70% due 4/01/2022 5,405
20,705 Mississippi Business Finance Corporation, Mississippi, PCR, Refunding (System Energy
Resources Inc. Project), 5.875% due 4/01/2022 20,917
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Missouri - 0.5% 2,600 Missouri State Development Finance Board, Infrastructure Facilities Revenue Refunding
Bonds (Branson), Series A, 5.50% due 12/01/2032 2,716
220 Missouri State Housing Development Commission, S/F Mortgage Revenue Bonds (Homeowner
Loan), AMT, Series A, 7.50% due 3/01/2031 (d) 230
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BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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Montana - 1.0% $ 6,000 Forsyth, Montana, PCR, Refunding (Portland General Electric Company), Series A, 5.20%
due 5/01/2033 $ 6,118
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Nebraska - 0.1% 285 Nebraska Investment Finance Authority, S/F Housing Revenue Bonds, AMT, Series C, 6.30%
due 9/01/2028 (d)(k) 287
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Nevada - 0.2% 1,140 Nevada Housing Division Revenue Bonds (Multi-Unit Housing), AMT, Issue B, 7.45% due
10/01/2017 (b) 1,142
5 Nevada Housing Division Revenue Bonds (S/F Program), AMT, Series A, 6.55% due
10/01/2012 (j) 5
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New Hampshire - 0.5% 2,675 New Hampshire Health and Education Facilities Authority, Revenue Refunding Bonds
(Elliot Hospital), Series B, 5.60% due 10/01/2022 2,817
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New Jersey - 6.1% 9,080 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 9,498
2,885 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2029 3,099
2,855 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 3,008
6,695 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2034 7,155
5,980 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds,
7% due 6/01/2013 (a) 6,953
7,500 Tobacco Settlement Financing Corporation of New Jersey, Revenue Refunding Bonds,
Series 1A, 5% due 6/01/2041 7,312
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New Mexico - 0.6% 3,300 Farmington, New Mexico, PCR, Refunding (Public Service Company of New Mexico - San
Juan Project), Series A, 5.80% due 4/01/2022 3,331
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New York - 1.9% 400 Metropolitan Transportation Authority, New York, Dedicated Tax Fund, Revenue
Refunding Bonds, VRDN, Series B, 3.82% due 11/01/2022 (i)(l) 400
1,125 New York City, New York, City Transitional Finance Authority Revenue Bonds, RIB,
Series 283, 8.40% due 11/15/2015 (m) 1,298
965 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2014 (f) 1,040
6,480 New York City, New York, GO, Series F, 5.25% due 1/15/2033 6,791
20 New York City, New York, GO, Series I, 6.25% due 4/15/2017 (n) 20
400 New York State Local Government Assistance Corporation, Revenue Refunding Bonds,
Sub-Lien, VRDN, Series 4V, 3.73% due 4/01/2022 (i)(l) 400
1,200 Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Refunding
Bonds, VRDN, Series C, 3.70% due 1/01/2032 (h)(l) 1,200
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North Carolina - 0.7% 4,105 Gaston County, North Carolina, Industrial Facilities and Pollution Control Financing
Authority, Revenue Bonds (National Gypsum Company Project), AMT, 5.75% due 8/01/2035 4,305
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Ohio - 0.6% 2,500 Ohio HFA, Mortgage Revenue Refunding Bonds, AMT, Series A, 4.90% due 9/01/2036 (o) 2,488
1,000 Richland County, Ohio, Hospital Facilities Revenue Refunding Bonds (MedCentral Health
System), 5.25% due 11/15/2036 1,035
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Oklahoma - 1.0% 5,750 Oklahoma Development Finance Authority, Revenue Refunding Bonds (St. John Health
System), 5% due 2/15/2038 5,865
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Pennsylvania - 4.1% 2,440 Pennsylvania State Higher Education Assistance Agency Revenue Bonds, Capital
Acquisition, 6.125% due 12/15/2010 (a)(c) 2,623
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 6,250 Pennsylvania State Higher Educational Facilities Authority Revenue Bonds (University
of Pennsylvania Medical Center Health System), Series A, 6% due 1/15/2031 $ 6,704
1,000 Philadelphia, Pennsylvania, Authority for Industrial Development, Senior Living
Revenue Bonds (Arbor House Inc. Project), Series E, 6.10% due 7/01/2033 1,057
1,355 Philadelphia, Pennsylvania, Authority for Industrial Development, Senior Living
Revenue Bonds (Rieder House Project), Series A, 6.10% due 7/01/2033 1,432
9,280 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie
Healthcare System), Series B, 7.125% due 12/01/2011 (a) 11,062
1,340 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Refunding Bonds
(Guthrie Healthcare System), Series A, 6.25% due 12/01/2011 (a) 1,478
410 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Refunding Bonds
(Guthrie Healthcare System), Series A, 6.25% due 12/01/2018 445
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South Carolina - 2.1% 1,000 Georgetown County, South Carolina, Environmental Improvement Revenue Refunding Bonds
(International Paper Company Project), AMT, Series A, 5.55% due 12/01/2029 1,050
3,500 Lexington County, South Carolina, Health Services District Inc., Hospital Revenue
Refunding and Improvement Bonds, 5.50% due 11/01/2032 3,669
2,450 Medical University Hospital Authority, South Carolina, Hospital Facilities Revenue
Refunding Bonds, 6.50% due 8/15/2012 (a) 2,749
5,000 Richland County, South Carolina, Environmental Improvement Revenue Refunding Bonds
(International Paper), AMT, 6.10% due 4/01/2023 5,398
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South Dakota - 0.4% 2,605 South Dakota State Health and Educational Facilities Authority Revenue Bonds
(Sanford Health), 5% due 11/01/2040 2,659
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Tennessee - 1.6% 2,000 McMinn County, Tennessee, IDB, Solid Waste Revenue Bonds (Recycling Facility-Calhoun
Newsprint), AMT, 7.40% due 12/01/2022 2,027
6,500 Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (a) 7,298
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Texas - 14.1% 7,290 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises, Inc.), First
Tier, Series A, 6.70% due 1/01/2011 (a) 7,963
3,055 Brazos River Authority, Texas, PCR, Refunding (TXU Energy Company LLC Project), AMT,
Series A, 7.70% due 4/01/2033 3,437
3,345 Brazos River, Texas, Harbor Navigation District, Brazoria County Environmental (Dow
Chemical Company Project), Series B-2, 4.95% due 5/15/2033 3,366
11,460 Brazos River, Texas, Harbor Navigation District, Brazoria County Environmental
Revenue Refunding Bonds (Dow Chemical Company Project), AMT, Series A-7, 6.625% due
5/15/2033 12,521
3,000 Gregg County, Texas, Health Facilities Development Corporation, Hospital Revenue
Bonds (Good Shepherd Medical Center Project), 6.875% due 10/01/2010 (a)(g) 3,302
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 10,250 Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal Facility
Revenue Bonds (E. I. du Pont de Nemours and Company Project), AMT, 6.40% due
4/01/2026 $ 10,367
6,000 Gulf Coast Waste Disposal Authority, Texas, Revenue Refunding Bonds (International
Paper Company), AMT, Series A, 6.10% due 8/01/2024 6,367
5,500 Harris County-Houston Sports Authority, Texas, Revenue Refunding Bonds, Senior Lien,
Series G, 5.75% due 11/15/2020 (c) 5,866
1,790 Houston, Texas, Industrial Development Corporation Revenue Bonds (Air Cargo), AMT,
6.375% due 1/01/2023 1,909
1,875 Mansfield, Texas, Independent School District, GO, Refunding, 6.625% due 2/15/2010 (a) 2,007
155 Mansfield, Texas, Independent School District, GO, Refunding, 6.625% due 2/15/2015 166
9,355 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds
(Centerpoint Energy Project), 5.60% due 3/01/2027 9,891
5,225 Midway, Texas, Independent School District, GO, Refunding, 6.125% due 8/15/2014 5,563
2,700 Port Corpus Christi, Texas, Revenue Refunding Bonds (Celanese Project), Series A,
6.45% due 11/01/2030 2,884
5,000 Red River Authority, Texas, PCR, Refunding (Celanese Project), AMT, Series B, 6.70%
due 11/01/2030 5,430
3,930 Sabine River Authority, Texas, PCR, Refunding (TXU Electric Company Project/TXU
Energy Company LLC), Series C, 5.20% due 5/01/2028 3,954
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Vermont - 0.2% 1,000 Vermont Educational and Health Buildings Financing Agency, Developmental and Mental
Health Revenue Bonds (Howard Center for Human Services), Series A, 6.375% due
6/15/2022 1,052
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Virginia - 0.6% 1,425 Chesterfield County, Virginia, IDA, PCR (Virginia Electric and Power Company),
Series A, 5.875% due 6/01/2017 1,519
2,250 Fairfax County, Virginia, EDA, Residential Care Facilities, Mortgage Revenue
Refunding Bonds (Goodwin House, Inc.), 5.125% due 10/01/2042 2,274
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Washington - 4.6% 3 Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS, Series 255,
7.811% due 7/01/2018 (h)(m) 3
2,370 Seattle, Washington, Housing Authority Revenue Bonds (Replacement Housing Project),
6.125% due 12/01/2032 2,426
407 Washington State, GO, Trust Receipts, Class R, Series 6, 7.84% due 1/01/2014 (i)(m) 450
7,800 Washington State Housing Financing Commission, S/F Program Revenue Bonds, AMT,
Series 2A, 4.70% due 12/01/2038 (d)(k) 7,488
14,320 Washington State Public Power Supply System, Revenue Refunding Bonds (Nuclear Project
Number 1), Series B, 7.125% due 7/01/2016 17,577
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Wisconsin - 1.7% 1,765 Milwaukee, Wisconsin, Revenue Bonds (Air Cargo), AMT, 6.50% due 1/01/2025 1,893
5,000 Wisconsin State Health and Educational Facilities Authority, Mortgage Revenue Bonds
(Hudson Memorial Hospital), 5.70% due 1/15/2029 (j) 5,297
3,040 Wisconsin State Health and Educational Facilities Authority Revenue Bonds
(SynergyHealth Inc.), 6% due 11/15/2032 3,281
-----------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
U.S. Virgin $ 8,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds (Hovensa Coker
Islands - 1.5% Project), AMT, 6.50% due 7/01/2021 $ 8,960
-----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds (Cost - $778,208) - 136.6% 822,719
-----------------------------------------------------------------------------------------------------------------------------------
Municipal Bonds Held in Trust (r)
-----------------------------------------------------------------------------------------------------------------------------------
Illinois - 7.5% 14,000 Chicago, Illinois, O'Hare International Airport, General Airport Revenue Refunding
Bonds, Third Lien, AMT, Series A, 5.75% due 1/01/2020 (c) 14,889
17,080 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT,
Series B-2, 6% due 1/01/2027 (c) 18,966
2,975 Kane and De Kalb Counties, Illinois, Community Unity School District Number 302, GO,
5.75% due 2/01/2018 (f) 3,288
2,710 Kane and De Kalb Counties, Illinois, Community Unity School District Number 302, GO,
5.75% due 2/01/2019 (f) 2,995
4,780 Kane and De Kalb Counties, Illinois, Community Unity School District Number 302, GO,
5.75% due 2/01/2021 (f) 5,283
-----------------------------------------------------------------------------------------------------------------------------------
Massachusetts - 3.4% 20,000 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds,
Series A, 5% due 8/15/2030 (i) 20,930
-----------------------------------------------------------------------------------------------------------------------------------
New York - 7.2% 13,500 New York City, New York, City Transitional Finance Authority Revenue Bonds, Future
Tax Secured, Series B, 6.25% due 11/15/2018 14,541
26,750 New York State Dormitory Authority, State University Educational Facilities Revenue
Refunding Bonds, Series 1989, 6% due 5/15/2010 (a)(c) 28,627
-----------------------------------------------------------------------------------------------------------------------------------
Oregon - 1.2% 6,610 Portland, Oregon, Sewer System Revenue Bonds, Series A, 5.75% due 8/01/2010 (a)(f) 6,989
-----------------------------------------------------------------------------------------------------------------------------------
Texas - 6.3% 20,970 Harris County, Texas, Health Facilities Development Corporation, Revenue Refunding
Bonds (School Health Care System), Series B24,680% due 7/01/2027 (e) 24,680
12,500 San Antonio, Texas, Electric and Gas Revenue Bonds, Series A, 5.75% due 2/01/2010 (a) 13,102
-----------------------------------------------------------------------------------------------------------------------------------
Washington - 8.7% 11,660 Energy Northwest, Washington, Electric Revenue Refunding Bonds (Columbia Generating
Station), Series A, 5.75% due 7/01/2018 (c) 12,601
7,015 Energy Northwest, Washington, Electric Revenue Refunding Bonds (Columbia Generating
Station), Series B, 6% due 7/01/2018 (h) 7,661
14,700 Energy Northwest, Washington, Electric Revenue Refunding Bonds (Project Number 1),
Series B, 6% due 7/01/2017 (c) 16,029
15,385 Washington State, Various Purpose, GO, Series B, 6% due 1/01/2010 (a)(i) 16,195
-----------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds Held in Trust (Cost - $199,204) - 34.3% 206,776
-----------------------------------------------------------------------------------------------------------------------------------
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
Shares
Held Short-Term Securities Value
-----------------------------------------------------------------------------------------------------------------------------------
8,700 Merrill Lynch Institutional Tax-Exempt Fund, 3.60% (p)(q) $ 8,700
-----------------------------------------------------------------------------------------------------------------------------------
Total Short-Term Securities (Cost - $8,700) - 1.4% 8,700
-----------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $986,112*) - 172.3% 1,038,195
Liabilities in Excess of Other Assets - (0.4%) (2,636)
Liability for Trust Certificates, Including Interest Expense Payable - (16.4%)
(98,708)
Preferred Stock, at Redemption Value - (55.5%) (334,318)
----------
----------
Net Assets Applicable to Common Stock - 100.0% $ 602,533
==========
* The cost and unrealized appreciation (depreciation) of investments as of
May 31, 2007, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 892,469
=========
Gross unrealized appreciation $ 50,603
Gross unrealized depreciation (2,485)
---------
Net unrealized appreciation $ 48,118
=========
(a) Prerefunded.
(b) FNMA Collateralized.
(c) MBIA Insured.
(d) FNMA/GNMA Collateralized.
(e) Escrowed to maturity.
(f) FGIC Insured.
(g) Radian Insured.
(h) AMBAC Insured.
(i) FSA Insured.
(j) FHA Insured.
(k) FHLMC Collateralized.
(l) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate
changes periodically based upon prevailing market rates.
(m) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(n) XL Capital Insured.
(o) GNMA Collateralized.
BlackRock MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2007 (Unaudited) (in Thousands)
(p) 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:
--------------------------------------------------------------------------
Affiliate Net Dividend
Activity Income
--------------------------------------------------------------------------
Merrill Lynch Institutional
Tax-Exempt Fund 8,278 $259
--------------------------------------------------------------------------
(q) Represents the current yield as of May 31, 2007.
(r) Securities represent underlying bonds transferred to a separate
securitization trust established in a tender option bond transaction in
which the Fund may have acquired the residual interest certificates. These
securities serve as collateral in a financing transaction.
o Forward interest rate swaps outstanding as of May 31, 2007 were as
follows:
--------------------------------------------------------------------------
Notional Unrealized
Amount Appreciation
--------------------------------------------------------------------------
Pay a fixed rate of 3.595% and receive
a floating rate based on 1-Week Bond
Market Association Rate
Broker, JPMorgan Chase
Expires June 2017 $ 17,250 $ 307
Pay a fixed rate of 3.7575% and receive
a floating rate based on 1-Week Bond
Market Association Rate
Broker, JPMorgan Chase
Expires July 2017 $ 25,000 141
Pay a fixed rate of 3.769% and receive
a floating rate based on 1-Week Bond
Market Association Rate
Broker, Goldman Sachs, Inc.
Expires August 2017 $ 18,000 92
Pay a fixed rate of 3.662% and receive
a floating rate based on 1-Week Bond
Market Association Rate
Broker, JPMorgan Chase
Expires August 2017 $ 25,000 331
--------------------------------------------------------------------------
Total $ 871
=========
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our
evaluation of these controls and procedures as of a date within 90 days
prior to the filing date of this report.
2(b) - There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the
period covered by this report that has materially affected, or is
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 MuniVest Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniVest Fund, Inc.
Date: July 24, 2007
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/ Robert C. Doll, Jr.
-----------------------------
Robert C. Doll, Jr.
Chief Executive Officer
BlackRock MuniVest Fund, Inc.
Date: July 24, 2007
By: /s/ Donald C. Burke
-----------------------------
Donald C. Burke
Chief Financial Officer
BlackRock MuniVest Fund, Inc.
Date: July 24, 2007