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 811-07642
Name of Fund: BlackRock MuniAssets Fund, Inc. (MUA)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock MuniAssets Fund, Inc., 40 East 52nd Street, New York, NY 10022.
Registrant’s telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 04/30/2010
Date of reporting period: 07/31/2009
Item 1 – Schedule of Investments
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Alabama - 0.6% |
|
County of Jefferson Alabama, RB, Series A, 5.00%, 1/01/10 |
|
$ |
685 |
|
$ |
650,223 |
|
|
|
|
Tuscaloosa Special Care Facilities Financing Authority, RB, Capstone Village, Series A, 5.88%, 8/01/36 (a)(b) |
|
|
1,820 |
|
|
775,484 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,425,707 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Alaska - 0.2% |
|
Alaska Industrial Development & Export Authority, RB, Williams Lynxs Alaska Cargoport, AMT, 7.80%, 5/01/14 |
|
|
590 |
|
|
559,408 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona - 7.8% |
|
Coconino County Pollution Control Corp., Arizona, RB, Tucson Electric Power Navajo, Series A, AMT, 7.13%, 10/01/32 |
|
|
3,000 |
|
|
2,879,970 |
|
|
|
|
Coconino County Pollution Control Corp., Arizona, RB, Tucson Electric Power Navajo, Series B, 7.00%, 10/01/32 |
|
|
2,500 |
|
|
2,382,975 |
|
|
|
|
Maricopa County IDA, Arizona, RB, Arizona Charter Schools Project 1, Series A, 6.63%, 7/01/20 |
|
|
1,625 |
|
|
1,225,640 |
|
|
|
|
Maricopa County IDA, Arizona, RB, Sun King Apartments Project, Series A, 6.75%, 5/01/31 |
|
|
1,615 |
|
|
1,246,037 |
|
|
|
|
Phoenix IDA, Arizona, Refunding RB, America West Airlines Inc., AMT, 6.30%, 4/01/23 |
|
|
4,800 |
|
|
2,879,952 |
|
|
|
|
Pima County IDA, RB, Arizona Charter School Project, Series E, 7.25%, 7/01/31 |
|
|
1,375 |
|
|
1,089,151 |
|
|
|
|
Pima County IDA, RB, Arizona Charter Schools Project, Series O, 5.25%, 7/01/31 |
|
|
500 |
|
|
304,590 |
|
|
|
|
Pima County IDA, RB, Charter Schools, II, Series A, 6.75%, 7/01/11 (c) |
|
|
415 |
|
|
461,530 |
|
|
|
|
Pima County IDA, RB, Charter Schools, II, Series A, 6.75%, 7/01/31 |
|
|
675 |
|
|
505,332 |
|
|
|
|
Salt Verde Financial Corp., RB, Senior, 5.00%, 12/01/32 |
|
|
2,840 |
|
|
2,234,796 |
|
|
|
|
Salt Verde Financial Corp., RB, Senior, 5.00%, 12/01/37 |
|
|
1,850 |
|
|
1,407,517 |
|
|
|
|
Show Low Improvement District, Arizona, Special Assessment, No. 5, 6.38%, 1/01/15 |
|
|
865 |
|
|
819,319 |
|
|
|
|
University Medical Center Corp., Arizona, RB, 6.25%, 7/01/29 |
|
|
280 |
|
|
280,185 |
|
|
|
|
University Medical Center Corp., Arizona, RB, 6.50%, 7/01/39 |
|
|
500 |
|
|
502,865 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,219,859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
California - 2.5% |
|
City of Fontana California, Special Tax, Community Facilities District No. 22, Sierra Series H, 6.00%, 9/01/34 |
|
|
1,320 |
|
|
1,000,560 |
|
|
|
|
City of San Jose California, RB, Series A (AMBAC), AMT, 5.50%, 3/01/32 |
|
|
3,290 |
|
|
2,964,027 |
|
|
|
|
|
|
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.
|
|
|
|
ACA |
American Capital Access Corp. |
|
AGC |
Assured Guaranty Corp. |
|
AMBAC |
American Municipal Bond Assurance Corp. |
|
AMT |
Alternative Minimum Tax (subject to) |
|
CAB |
Capital Appreciation Bonds |
|
EDA |
Economic Development Authority |
|
GO |
General Obligation Bonds |
|
HDA |
Housing Development Authority |
|
IDA |
Industrial Development Authority |
|
MBIA |
Municipal Bond Investors Assurance (National Public Finance Guaranty Corp.) |
|
RB |
Revenue Bonds |
|
TAN |
Tax Anticipation Notes |
|
TECP |
Tax-Exempt Commercial Paper |
1
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
Southern California Public Power Authority, RB, Project No. 1, Series A, 5.00%, 11/01/29 |
|
$ |
2,085 |
|
$ |
1,767,371 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,731,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Colorado - 4.5% |
|
City & County of Denver Colorado, RB (AMBAC), AMT, 7.75%, 11/15/13 |
|
|
1,540 |
|
|
1,659,011 |
|
|
|
|
Colorado Health Facilities Authority, RB, Christian Living Community Project, Series A, 5.75%, 1/01/26 |
|
|
650 |
|
|
537,166 |
|
|
|
|
Elk Valley Public Improvement, RB, Public Improvement Fee, Series A, 7.10%, 9/01/14 |
|
|
1,410 |
|
|
1,396,549 |
|
|
|
|
Elk Valley Public Improvement, RB, Public Improvement Fee, Series A, 7.30%, 9/01/22 |
|
|
2,095 |
|
|
1,864,990 |
|
|
|
|
Elk Valley Public Improvement, RB, Public Improvement Fee, Series B, 7.45%, 9/01/31 |
|
|
260 |
|
|
212,043 |
|
|
|
|
North Range Metropolitan District No. 1, Colorado, GO, 7.25%, 12/15/11 (c) |
|
|
1,760 |
|
|
1,984,206 |
|
|
|
|
Plaza Metropolitan District No. 1, Colorado, TAN, Public Improvement Fee, Tax Increment, 8.00%, 12/01/25 |
|
|
2,850 |
|
|
2,481,295 |
|
|
|
|
Plaza Metropolitan District No. 1, Colorado, TAN, Sub Public Improvement Fee, Tax Increment, 8.13%, 12/01/25 |
|
|
525 |
|
|
411,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,546,787 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut - 2.5% |
|
Connecticut State Development Authority, RB, AFCO Cargo BDL, LLC Project, AMT, 8.00%, 4/01/30 |
|
|
3,490 |
|
|
3,050,225 |
|
|
|
|
Connecticut State Development Authority, RB, Learjet Inc. Project, AMT, 7.95%, 4/01/26 |
|
|
680 |
|
|
684,148 |
|
|
|
|
Mashantucket Western Pequot Tribe, RB, 2006 Series A Sub Special, 5.50%, 9/01/36 |
|
|
885 |
|
|
426,358 |
|
|
|
|
Mohegan Tribe of Indians of Connecticut, RB, Public Improvement, Priority Distribution, 6.25%, 1/01/31 |
|
|
2,610 |
|
|
1,752,223 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,912,954 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida - 9.9% |
|
Capital Region Community Development District, Florida, Special Assessment, Capital Improvement, Series A, 7.00%, 5/01/39 |
|
|
945 |
|
|
688,404 |
|
|
|
|
Greater Orlando Aviation Authority, Florida, RB, Special Purpose, JetBlue Airways Corp., AMT, 6.38%, 11/15/26 |
|
|
1,180 |
|
|
798,707 |
|
|
|
|
Halifax Hospital Medical Center, RB, Refunding & Improvement, Series A, 5.00%, 6/01/38 |
|
|
1,160 |
|
|
905,925 |
|
|
|
|
Harbor Bay Community Development District, Florida, Special Assessment, Series A, 7.00%, 5/01/33 |
|
|
455 |
|
|
439,139 |
|
|
|
|
Hillsborough County IDA, RB, National Gypsum, AMT, Series A, 7.13%, 4/01/30 |
|
|
2,000 |
|
|
1,121,340 |
|
|
|
|
Hillsborough County IDA, RB, National Gypsum, AMT, Series B, 7.13%, 4/01/30 |
|
|
1,540 |
|
|
863,432 |
|
|
|
|
Hillsborough County IDA, RB, Tampa General Hospital Project, 5.00%, 10/01/36 |
|
|
4,170 |
|
|
3,236,754 |
|
|
|
|
Jacksonville Economic Development Commission, RB, Gerdau Ameristeel US Inc., AMT, 5.30%, 5/01/37 |
|
|
1,300 |
|
|
776,009 |
|
|
|
|
Jacksonville Economic Development Commission, Refunding RB, Florida Proton Therapy Institute, Series A, 6.00%, 9/01/17 |
|
|
920 |
|
|
824,541 |
|
2
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
Lee County IDA, Florida, RB, Lee Charter Foundation, Series A, 5.38%, 6/15/37 |
|
$ |
2,620 |
|
$ |
1,525,233 |
|
|
|
|
Midtown Miami Community Development District, Special Assessment, Series A, 6.25%, 5/01/37 |
|
|
3,255 |
|
|
2,182,478 |
|
|
|
|
Orlando Urban Community Development District, Florida, Special Assessment, Capital Improvement, Series A, 6.95%, 5/01/11 (c) |
|
|
2,245 |
|
|
2,460,138 |
|
|
|
|
Santa Rosa Bay Bridge Authority, RB, 6.25%, 7/01/28 |
|
|
3,040 |
|
|
1,641,205 |
|
|
|
|
Sarasota County Health Facilities Authority, Refunding RB, Village On The Isle Project, 5.50%, 1/01/27 |
|
|
860 |
|
|
642,755 |
|
|
|
|
Sarasota County Health Facilities Authority, Refunding RB, Village On The Isle Project, 5.50%, 1/01/32 |
|
|
795 |
|
|
559,585 |
|
|
|
|
Sumter Landing Community Development District, Florida, RB, Sub-Series B, 5.70%, 10/01/38 |
|
|
2,405 |
|
|
1,541,028 |
|
|
|
|
Tolomato Community Development District, Special Assessment, 6.65%, 5/01/40 |
|
|
2,680 |
|
|
1,826,340 |
|
|
|
|
Waterchase Community Development District, Florida, RB, Series A, 6.70%, 5/01/11 (c) |
|
|
870 |
|
|
949,570 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
22,982,583 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia - 2.2% |
|
City of Atlanta Georgia, TAN, Princeton Lakes Project, 5.50%, 1/01/31 |
|
|
640 |
|
|
486,266 |
|
|
|
|
County of Clayton Georgia, TAN, Ellenwood Project, 7.50%, 7/01/33 |
|
|
2,375 |
|
|
2,033,238 |
|
|
|
|
Gainesville & Hall County Development Authority, RB, ACTS Retirement, Life Community, Series A-2, 6.38%, 11/15/29 |
|
|
700 |
|
|
705,425 |
|
|
|
|
Gainesville & Hall County Development Authority, RB, ACTS Retirement, Life Community, Series A-2, 6.63%, 11/15/39 |
|
|
235 |
|
|
236,798 |
|
|
|
|
Rockdale County Development Authority, RB, Visy Paper Project, Series A, AMT, 6.13%, 1/01/34 |
|
|
2,435 |
|
|
1,751,252 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,212,979 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Guam - 3.3% |
|
Guam Government Waterworks Authority, RB, Water, 5.88%, 7/01/35 |
|
|
2,305 |
|
|
2,023,950 |
|
|
|
|
Territory of Guam, GO, Series A, 5.75%, 11/15/14 |
|
|
285 |
|
|
283,002 |
|
|
|
|
Territory of Guam, GO, Series A, 6.00%, 11/15/19 |
|
|
365 |
|
|
357,919 |
|
|
|
|
Territory of Guam, GO, Series A, 6.75%, 11/15/29 |
|
|
635 |
|
|
634,771 |
|
|
|
|
Territory of Guam, GO, Series A, 7.00%, 11/15/39 |
|
|
660 |
|
|
657,433 |
|
|
|
|
Territory of Guam, RB, Section 30, Series A, 5.63%, 12/01/29 |
|
|
1,460 |
|
|
1,422,799 |
|
|
|
|
Territory of Guam, RB, Section 30, Series A, 5.75%, 12/01/34 |
|
|
2,250 |
|
|
2,205,698 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,585,572 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois - 3.0% |
|
City of Chicago Illinois, Refunding RB, American Airlines, 5.50%, 12/01/30 |
|
|
4,140 |
|
|
1,533,042 |
|
|
|
|
Illinois Finance Authority, RB, Clare at Water Tower Project, Series A, 6.13%, 5/15/38 |
|
|
2,950 |
|
|
1,481,106 |
|
|
|
|
Illinois Finance Authority, RB, Landing at Plymouth Place Project, Series A, 6.00%, 5/15/37 |
|
|
600 |
|
|
428,316 |
|
|
|
|
Illinois Finance Authority, RB, Monarch Landing Inc. Facilities, Series A, 7.00%, 12/01/37 |
|
|
820 |
|
|
464,145 |
|
|
|
|
Illinois Finance Authority, RB, Primary Health Care Centers Program, 6.60%, 7/01/24 |
|
|
685 |
|
|
534,732 |
|
3
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|||||||||
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
Illinois Finance Authority, RB, Rush University Medical Center Obligation Group, Series B, 7.25%, 11/01/30 |
|
$ |
1,170 |
|
$ |
1,246,869 |
|
|
|
|
Lincolnshire Special Service Area No. 1, Illinois, Special Tax, Sedgebrook Project, 6.25%, 3/01/34 |
|
|
1,070 |
|
|
719,896 |
|
|
|
|
Village of Wheeling Illinois, TAN, North Milwaukee, Lake-Cook TIF Project, 6.00%, 1/01/25 |
|
|
825 |
|
|
660,355 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,068,461 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Indiana - 0.9% |
|
Vanderburgh County Redevelopment Commission, Indiana, TAN, 5.25%, 2/01/31 |
|
|
1,200 |
|
|
1,073,448 |
|
|
|
|
Vigo County Hospital Authority, Indiana, RB, Union Hospital Inc., 5.70%, 9/01/37 |
|
|
615 |
|
|
440,402 |
|
|
|
|
Vigo County Hospital Authority, Indiana, RB, Union Hospital Inc., 5.75%, 9/01/42 |
|
|
765 |
|
|
540,725 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,054,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Iowa - 1.1% |
|
Iowa Finance Authority, Refunding RB, Care Initiatives Project, 9.25%, 7/01/11 (c) |
|
|
2,110 |
|
|
2,454,858 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Louisiana - 2.0% |
|
Louisiana Local Government Environmental Facilities & Community Development Authority, RB, Westlake Chemical Corp. Projects, 6.75%, 11/01/32 |
|
|
3,000 |
|
|
2,495,340 |
|
|
|
|
Parish of Saint John Baptist Louisiana, RB, Marathon Oil Corp., Series A, 5.13%, 6/01/37 |
|
|
2,600 |
|
|
2,222,220 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,717,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland - 1.5% |
|
Maryland Economic Development Corp., RB, Health & Mental Hygiene Program, Series A, 7.75%, 3/01/25 |
|
|
1,765 |
|
|
1,706,137 |
|
|
|
|
Maryland Health & Higher Educational Facilities Authority, RB, Washington Christian Academy, 5.50%, 7/01/38 |
|
|
590 |
|
|
294,245 |
|
|
|
|
Maryland State Energy Financing Administration Industrial Development Revenue, RB, Cogeneration, AES Warrior Run, AMT, 7.40%, 9/01/19 |
|
|
1,500 |
|
|
1,345,665 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,346,047 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts - 2.5% |
|
Massachusetts Development Finance Agency, Refunding RB, Dominion Energy Brayton, Series 1, 5.75%, 12/01/42 |
|
|
1,200 |
|
|
1,235,712 |
|
|
|
|
Massachusetts Health & Educational Facilities Authority, RB, Bay Cove Human Services Issue, Series A, 5.90%, 4/01/28 |
|
|
1,930 |
|
|
1,976,899 |
|
|
|
|
Massachusetts Health & Educational Facilities Authority, RB, Jordan Hospital, Series E, 6.75%, 10/01/33 |
|
|
1,150 |
|
|
886,489 |
|
|
|
|
Massachusetts Port Authority, RB, Delta Air Lines Inc. Project (AMBAC), AMT, Series A, 5.50%, 1/01/19 |
|
|
2,400 |
|
|
1,683,096 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,782,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan - 2.6% |
|
Advanced Technology Academy, RB, 6.00%, 11/01/37 |
|
|
900 |
|
|
639,333 |
|
|
|
|
Monroe County Hospital Finance Authority, Refunding RB, Mercy Memorial Hospital Corp. Obligation, 5.50%, 6/01/35 |
|
|
1,740 |
|
|
1,231,642 |
|
|
|
|
Royal Oak Hospital Finance Authority, Michigan, RB, William Beaumont Hospital, 8.25%, 9/01/39 |
|
|
3,735 |
|
|
4,213,341 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,084,316 |
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|||||||||
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
Minnesota - 0.8% |
|
City of Minneapolis Minnesota, RB, Fairview Health Services, Series A, 6.75%, 11/15/32 |
|
$ |
1,785 |
|
$ |
1,884,264 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Missouri - 0.3% |
|
Kansas City IDA, Missouri, RB, First Mortgage, Bishop Spencer, Series A, 6.50%, 1/01/35 |
|
|
1,000 |
|
|
730,950 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Nevada - 0.7% |
|
Clark County Improvement District, Nevada, Special Assessment, Special Improvement District No. 142, Local Improvement, 6.38%, 8/01/23 |
|
|
615 |
|
|
482,597 |
|
|
|
|
County of Clark Nevada, RB, Nevada Power Co. Project, AMT, Series A, 5.60%, 10/01/30 |
|
|
1,380 |
|
|
1,152,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,634,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Hampshire - 0.4% |
|
New Hampshire Health & Education Facilities Authority, RB, Catholic Medical Center, 5.00%, 7/01/36 |
|
|
1,165 |
|
|
850,089 |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey - 11.3% |
|
Camden County Pollution Control Financing Authority, RB, AMT, Series A, 7.50%, 12/01/10 |
|
|
9,000 |
|
|
8,979,570 |
|
|
|
|
Camden County Pollution Control Financing Authority, RB, AMT, Series B, 7.50%, 12/01/09 |
|
|
125 |
|
|
124,699 |
|
|
|
|
New Jersey EDA, RB, Cedar Crest Village Inc. Facilities, Series A, 7.25%, 11/15/11 (c) |
|
|
1,665 |
|
|
1,885,529 |
|
|
|
|
New Jersey EDA, RB, Cigarette Tax, 5.50%, 6/15/24 |
|
|
3,065 |
|
|
2,621,249 |
|
|
|
|
New Jersey EDA, RB, Continental Airlines Inc. Project, AMT, 6.25%, 9/15/19 |
|
|
2,000 |
|
|
1,541,220 |
|
|
|
|
New Jersey EDA, RB, Continental Airlines Inc. Project, AMT, 6.25%, 9/15/29 |
|
|
3,330 |
|
|
2,280,717 |
|
|
|
|
New Jersey EDA, RB, Continental Airlines Inc. Project, AMT, 9.00%, 6/01/33 |
|
|
1,250 |
|
|
1,149,012 |
|
|
|
|
New Jersey EDA, Refunding RB, Newark Airport Marriott Hotel, 7.00%, 10/01/14 |
|
|
2,500 |
|
|
2,421,225 |
|
|
|
|
New Jersey Educational Facilities Authority, Refunding RB, University Medical & Dentistry, Series B, 7.50%, 12/01/32 |
|
|
2,510 |
|
|
2,652,593 |
|
|
|
|
New Jersey Health Care Facilities Financing Authority, RB, Pascack Valley Hospital Association, 6.63%, 7/01/36 (a)(b) |
|
|
2,000 |
|
|
51,200 |
|
|
|
|
New Jersey Health Care Facilities Financing Authority, RB, Saint Joseph’s Healthcare System, 6.63%, 7/01/38 |
|
|
2,410 |
|
|
2,022,062 |
|
|
|
|
New Jersey Transportation Trust Fund Authority, New Jersey, RB, CAB, Transportation System (AMBAC), Series C, 5.05%, 12/15/35 (d) |
|
|
3,450 |
|
|
594,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,323,580 |
|
|
|
|
|
|
|
|
|
|
|
|
|
New Mexico - 1.1% |
|
Farmington New Mexico, RB, Tucson Electric Power Co., San Juan, Series A, 6.95%, 10/01/20 |
|
|
2,500 |
|
|
2,500,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
New York - 6.0% |
|
Dutchess County Industrial Development Agency, New York, Refunding RB, Saint Francis Hospital, Series A, 7.50%, 3/01/29 |
|
|
1,400 |
|
|
1,306,396 |
|
|
|
|
Metropolitan Transportation Authority, RB, Series 2008-C, 6.50%, 11/15/28 |
|
|
3,685 |
|
|
4,082,722 |
|
|
|
|
New York City Industrial Development Agency, RB, American Airlines, JFK International Airport, AMT, 8.00%, 8/01/28 |
|
|
1,045 |
|
|
832,499 |
|
5
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|||||||||
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
|
|
New York City Industrial Development Agency, RB, British Airways Plc Project, AMT, 7.63%, 12/01/32 |
|
$ |
2,400 |
|
$ |
1,849,824 |
|
|
|
|
New York City Industrial Development Agency, RB, Series C, 6.80%, 6/01/28 |
|
|
510 |
|
|
521,801 |
|
|
|
|
New York City Industrial Development Agency, RB, Special Needs Facilities Pooled Program, Series C-1, 6.63%, 7/01/29 |
|
|
1,515 |
|
|
1,183,715 |
|
|
|
|
New York Liberty Development Corp., RB, National Sports Museum Project, Series A, 6.13%, 2/15/19 (a)(b) |
|
|
870 |
|
|
870 |
|
|
|
|
New York State Dormitory Authority, RB, Mt. Sinai NYU Health, Remarketed, Series C, 5.50%, 7/01/26 |
|
|
1,470 |
|
|
1,469,868 |
|
|
|
|
New York State Dormitory Authority, RB, NYU Hospitals Center, Series A, 5.00%, 7/01/20 |
|
|
2,960 |
|
|
2,618,653 |
|
|
|
|
Westchester County Industrial Development Agency, New York, RB, Mortgage, Kendal On Hudson Project, Series A, 6.50%, 1/01/13 (c) |
|
|
100 |
|
|
116,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,982,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
North Carolina - 1.5% |
|
North Carolina Medical Care Commission, RB, First Mortgage, Deerfield, Series A, 6.13%, 11/01/38 |
|
|
2,335 |
|
|
1,992,619 |
|
|
|
|
North Carolina Medical Care Commission, RB, First Mortgage, Givens Estates Project, Series A, 6.50%, 7/01/13 (c) |
|
|
1,250 |
|
|
1,498,112 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,490,731 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio - 1.9% |
|
Buckeye Tobacco Settlement Financing Authority, RB, Asset-Backed, Senior, Turbo, Series A-2, 5.13%, 6/01/24 |
|
|
2,270 |
|
|
1,862,648 |
|
|
|
|
Buckeye Tobacco Settlement Financing Authority, RB, Asset-Backed, Senior, Turbo, Series A-2, 6.50%, 6/01/47 |
|
|
3,935 |
|
|
2,502,699 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,365,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania - 8.2% |
|
Allegheny County Hospital Development Authority, RB, Health System, West Penn, Series A, 5.38%, 11/15/40 |
|
|
3,015 |
|
|
1,802,307 |
|
|
|
|
Bucks County IDA, RB, Ann’s Choice Inc., Facilities, Series A, 6.13%, 1/01/25 |
|
|
200 |
|
|
163,282 |
|
|
|
|
Bucks County IDA, RB, Ann’s Choice Inc., Facilities, Series A, 6.25%, 1/01/35 |
|
|
1,550 |
|
|
1,162,221 |
|
|
|
|
Lancaster County Hospital Authority, RB, Brethren Village Project, Series A, 6.25%, 7/01/26 |
|
|
685 |
|
|
639,612 |
|
|
|
|
Lancaster County Hospital Authority, RB, Brethren Village Project, Series A, 6.50%, 7/01/40 |
|
|
590 |
|
|
527,737 |
|
|
|
|
Montgomery County IDA, Pennsylvania, RB, Mortgage, Whitemarsh Continuing Care, 6.13%, 2/01/28 |
|
|
2,330 |
|
|
1,565,457 |
|
|
|
|
Pennsylvania Economic Development Financing Authority, RB, National Gypsum Co., Remarketed, AMT, Series A, 6.25%, 11/01/27 |
|
|
3,250 |
|
|
1,823,120 |
|
|
|
|
Pennsylvania Economic Development Financing Authority, RB, Reliant Energy, AMT, Series B, 6.75%, 12/01/36 |
|
|
2,040 |
|
|
1,893,650 |
|
|
|
|
Pennsylvania Higher Educational Facilities Authority, RB, Allegheny Delaware Valley Obligation (MBIA), Series A, 5.88%, 11/15/16 |
|
|
2,410 |
|
|
2,149,238 |
|
6
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State |
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|||||||||
|
|
|
Philadelphia Authority for Industrial Development, RB, Air Cargo, AMT, Sub-Series A, 7.50%, 1/01/25 |
|
$ |
2,270 |
|
$ |
1,915,766 |
|
|
|
|
Philadelphia Authority for Industrial Development, RB, Commercial Development, Remarketed, AMT, 7.75%, 12/01/17 |
|
|
6,440 |
|
|
5,550,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,193,155 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Puerto Rico - 0.7% |
|
Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A, 6.50%, 8/01/44 |
|
|
1,650 |
|
|
1,727,798 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Rhode Island - 0.7% |
|
Central Falls Detention Facility Corp., Rhode Island, Refunding RB, 7.25%, 7/15/35 |
|
|
2,495 |
|
|
1,734,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
South Carolina - 0.4% |
|
Connector 2000 Association Inc., RB, CAB, Senior, Series B, 8.87%, 1/01/14 (d) |
|
|
1,485 |
|
|
835,684 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Tennessee - 1.3% |
|
Knox County Health Educational & Housing Facilities Board, Tennessee, Refunding & Improvement RB, Covenant Health, Series A, 5.06%, 1/01/40 (d) |
|
|
6,785 |
|
|
747,232 |
|
|
|
|
Shelby County Health Educational & Housing Facilities Board, RB, Germantown Village, 6.25%, 12/01/34 |
|
|
355 |
|
|
260,055 |
|
|
|
|
Shelby County Health Educational & Housing Facilities Board, RB, Germantown Village, Series A, 7.25%, 12/01/34 |
|
|
2,500 |
|
|
2,101,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,108,537 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Texas - 5.1% |
|
Brazos River Authority, Refunding RB, TXU Electric Co. Project, AMT, Series C, 5.75%, 5/01/36 |
|
|
2,885 |
|
|
2,236,539 |
|
|
|
|
Brazos River Authority, Refunding RB, Texas Utility Co., Remarketed, AMT, Series A, 7.70%, 4/01/33 |
|
|
2,550 |
|
|
1,198,525 |
|
|
|
|
City of Houston Texas, RB, Special Facilities, Continental, AMT, Series E, 6.75%, 7/01/21 |
|
|
2,685 |
|
|
2,102,838 |
|
|
|
|
Harris County Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System, Series B, 7.13%, 12/01/31 |
|
|
1,500 |
|
|
1,619,100 |
|
|
|
|
Matagorda County Navigation District No. 1, Texas, Refunding RB, Central Power & Light Co. Project, Remarketed, Series A, 6.30%, 11/01/29 |
|
|
1,240 |
|
|
1,286,252 |
|
|
|
|
North Texas Tollway Authority, RB, Toll Second Tier, Refunding, Series F, 6.13%, 1/01/31 |
|
|
2,775 |
|
|
2,796,007 |
|
|
|
|
Texas State Public Finance Authority, RB, Kipp Inc. Education (ACA), Series A, 5.00%, 2/15/28 |
|
|
1,000 |
|
|
706,550 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,945,811 |
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Virgin Islands - 1.3% |
|
United States Virgin Islands, RB, Senior Secured, Hovensa Coker Project, AMT, 6.50%, 7/01/21 |
|
|
3,000 |
|
|
2,965,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Utah - 0.7% |
|
County of Carbon Utah, Refunding RB, Laidlaw Environmental, AMT, Series A, 7.45%, 7/01/17 |
|
|
1,660 |
|
|
1,661,477 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia - 1.3% |
|
Dulles Town Center Community Development Authority, Virginia, Special Assessment, Dulles Town Center Project, 6.25%, 3/01/26 |
|
|
1,435 |
|
|
1,052,113 |
|
|
|
|
Fairfax County EDA, RB, Goodwin House Inc., 5.13%, 10/01/37 |
|
|
750 |
|
|
580,972 |
|
|
|
|
Fairfax County EDA, RB, Goodwin House Inc., 5.13%, 10/01/42 |
|
|
450 |
|
|
340,344 |
|
|
|
|
Lexington IDA, RB, Mortgage, Kendal at Lexington, Series A, 5.38%, 1/01/28 |
|
|
540 |
|
|
395,334 |
|
7
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
State |
|
Municipal Bonds |
|
|
Par |
|
|
Value |
|
|
|
|||||||||
|
|
|
Tobacco Settlement Financing Corp., Virginia, RB, Senior, Series B-1, 5.00%, 6/01/47 |
|
$ |
1,320 |
|
$ |
717,143 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,085,906 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Washington - 0.5% |
|
Washington State Housing Finance Commission, Washington, RB, Skyline at First Hill Project, Series A, 5.63%, 1/01/38 |
|
|
1,750 |
|
|
1,110,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wisconsin - 0.7% |
|
Wisconsin Health & Educational Facilities Authority, RB, New Castle Place Project, Series A, 7.00%, 12/01/31 |
|
|
1,855 |
|
|
1,563,821 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Wyoming - 2.5% |
|
County of Sweetwater Wyoming, Refunding RB, FMC Corp. Project, AMT, 5.60%, 12/01/35 |
|
|
3,600 |
|
|
2,909,448 |
|
|
|
|
Wyoming Municipal Power Agency, Wyoming, RB, Series A, 5.38%, 1/01/42 |
|
|
3,030 |
|
|
2,950,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,859,941 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds - 94.5% |
|
|
|
|
|
220,241,771 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to Tender Option Bond Trusts (e) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
District of Columbia - 1.8% |
|
District of Columbia Water & Sewer Authority, Refunding RB, Series A, 6.00%, 10/01/35 |
|
|
3,951 |
|
|
4,274,191 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida - 3.4% |
|
County of Miami-Dade, Florida, Refunding RB, Miami International Airport (AGC), AMT, Series A, 5.25%, 10/01/33 |
|
|
8,870 |
|
|
7,861,304 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia - 3.7% |
|
Virginia HDA, RB (MBIA), Sub-Series H-1, 5.38%, 7/01/36 |
|
|
8,690 |
|
|
8,724,847 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds Transferred to Tender Option Bond Trusts - 8.9% |
|
|
|
|
|
20,860,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Long-Term Investments |
|
|
|
|
|
241,102,113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California - 0.2% |
|
California State, TECP, 4.00%, 8/05/09 (f) |
|
|
500 |
|
|
500,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money Market Fund - 0.2% |
|
FFI Institutional Tax-Exempt Fund, 0.42% (g)(h) |
|
|
400,000 |
|
|
400,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term
Securities |
|
|
|
|
|
900,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments |
|
|
|
|
|
242,002,113 |
|
|
|
|
Other Assets Less Liabilities - 0.8% |
|
|
|
|
|
1,839,602 |
|
|
|
|
Liability for Trust Certificates, Including Interest Expense and Fees Payable - (4.6)% |
|
|
|
|
|
(10,767,569 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets - 100.0% |
|
|
|
|
$ |
233,074,146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of July 31, 2009, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
266,937,405 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
6,920,868 |
|
|
Gross unrealized depreciation |
|
|
(42,611,806 |
) |
|
|
|
|
|
|
|
Net unrealized depreciation |
|
$ |
(35,690,938 |
) |
|
|
|
|
|
|
|
|
|
|
(a) |
Issuer filed for bankruptcy and/or is in default of interest payments. |
|
|
|
|
(b) |
Non-income producing security. |
|
|
|
|
(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) |
Represents a zero coupon bond. Rate shown reflects the current yield as of report date. |
|
|
|
|
(e) |
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. |
8
|
|
|
|
BlackRock MuniAssets Fund, Inc. |
|
|
|
|
|
Schedule of Investments July 31, 2009 (Unaudited) |
|
|
|
|
|
|
|
|
(f) |
Security may have a maturity of more than one year at the time of issuance, but has variable rate and demand features that qualify it as a short-term security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through demand. |
|
|
|
|
(g) |
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 Activity |
|
Income |
|
||
|
|
|
|
|
|
|
|
|
|
FFI Institutional Tax-Exempt Fund |
|
|
(1,601,534 |
) |
$ |
1,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(h) |
Variable rate security. Rate shown is as of report date. |
|
|
|
|
|
|
• |
Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” clarifies the definition of fair value, establishes a framework for measuring fair values and requires additional disclosures about the use of 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 securities |
|
|
|
|
|
|
• |
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 annual report.
The following table summarizes the inputs used as of July 31, 2009 in determining the fair valuation of the Fund’s investments:
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation |
|
Investments in |
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
Level 1 - Short-Term Securities |
|
$ |
400,000 |
|
|
Level 2 - |
|
|
|
|
|
Long-Term Investments1 |
|
|
241,102,113 |
|
|
Short-Term Securities |
|
|
500,000 |
|
|
|
|
|
|
|
|
Total Level 2 |
|
|
241,602,113 |
|
|
Level 3 |
|
|
— |
|
|
|
|
|
|
|
|
Total |
|
$ |
242,002,113 |
|
|
|
|
|
|
|
1See above Schedule of Investments for values in each state/political classification.
9
|
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 MuniAssets Fund, Inc. |
||
|
By: |
/s/ Anne F. Ackerley | ||
| Anne F. Ackerley | |||
| Chief Executive Officer of | |||
| BlackRock MuniAssets Fund, Inc. | |||
| Date: September 22, 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 MuniAssets Fund, Inc. | |||
| Date: September 22, 2009 | |||
|
By: |
/s/ Neal J. Andrews | ||
| Neal J. Andrews | |||
| Chief Financial Officer (principal financial officer) of | |||
| BlackRock MuniAssets Fund, Inc. | |||
| Date: September 22, 2009 | |||