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 811-06540

 

Name of Fund: BlackRock MuniYield Insured Fund, Inc. (MYI)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock MuniYield Insured Fund, Inc., 55 East 52nd Street, New York, NY 10055.

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 07/31/2010

 

Date of reporting period: 04/30/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments April 30, 2010 (Unaudited)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 0.4%

 

 

 

 

 

 

 

Birmingham Special Care Facilities
Financing Authority, RB, Children’s
Hospital (AGC), 6.00%, 6/01/39

 

$

3,605

 

$

3,913,732

 

Alaska — 1.3%

 

 

 

 

 

 

 

Borough of Matanuska-Susitna Alaska,
RB, Goose Creek Correctional Center
(AGC), 6.00%, 9/01/28

 

 

10,150

 

 

11,666,816

 

Arizona — 2.8%

 

 

 

 

 

 

 

Downtown Phoenix Hotel Corp., RB,
Senior Series A (FGIC), 5.00%,
7/01/36

 

 

21,355

 

 

17,235,193

 

Maricopa County & Phoenix Industrial
Development Authorities, Refunding
RB, S/F, Series A-2, AMT (GNMA),
5.80%, 7/01/40

 

 

2,705

 

 

2,754,015

 

State of Arizona, COP, Department of
Administration, Series A (AGM):

 

 

 

 

 

 

 

5.00%, 10/01/27

 

 

3,725

 

 

3,817,678

 

5.25%, 10/01/28

 

 

1,600

 

 

1,660,128

 

 

 

 

 

 

 

 

 

 

 

 

25,467,014

 

California — 14.3%

 

 

 

 

 

 

 

Alameda Corridor Transportation
Authority, Refunding RB, CAB,
Subordinate Lien, Series A (AMBAC),
5.47%, 10/01/24 (a)

 

 

10,000

 

 

8,078,000

 

Antioch Public Financing Authority
California, Refunding RB, Municipal
Facilities Project, Series A (NPFGC),
5.50%, 1/01/32

 

 

5,000

 

 

5,082,000

 

California HFA, RB, Home Mortgage,
Series K, AMT, 5.50%, 2/01/42

 

 

6,520

 

 

6,900,638

 

California Health Facilities Financing
Authority, Refunding RB, St. Joseph
Health System, Series A, 5.75%,
7/01/39

 

 

1,550

 

 

1,611,427

 

California State University, RB,
Systemwide, Series A (NPFGC), 5.00%,
11/01/32

 

 

9,865

 

 

9,952,503

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (continued)

 

 

 

 

 

 

 

California Statewide Communities
Development Authority, RB (AGM):

 

 

 

 

 

 

 

St. Joseph Health System, Series E,
5.25%, 7/01/47

 

$

10,000

 

$

10,133,800

 

Sutter Health, Series D, 5.05%,
8/15/38

 

 

5,750

 

 

5,799,967

 

City of Redding California, COP,
Refunding, Series A (AGM), 5.00%,
6/01/30

 

 

1,900

 

 

1,937,905

 

City of San Jose California, Refunding
RB, Series A, AMT (AMBAC), 5.50%,
3/01/32

 

 

11,965

 

 

12,086,086

 

County of Sacramento California, RB,
Senior Series A (AGM), 5.00%,
7/01/41

 

 

15,000

 

 

15,028,950

 

Fairfield-Suisun Unified School District
California, GO, Election of 2002
(NPFGC), 5.50%, 8/01/28

 

 

5,800

 

 

6,115,462

 

Los Angeles Municipal Improvement
Corp., RB, Series B1 (NPFGC), 4.75%,
8/01/37

 

 

15,000

 

 

14,104,350

 

Mendocino-Lake Community College
District, GO, Election of 2006, Series A
(NPFGC), 5.00%, 8/01/31

 

 

1,485

 

 

1,490,257

 

Norwalk-La Mirada Unified School
District California, GO, Refunding,
CAB, Election of 2002, Series E (AGC),
6.47%, 8/01/38 (b)

 

 

7,620

 

 

1,383,868

 

Oceanside Unified School District
California, GO, Series A (AGC), 5.25%,
8/01/33

 

 

2,500

 

 

2,574,000

 

Port of Oakland, RB, Series K, AMT
(NPFGC), 5.75%, 11/01/29

 

 

3,645

 

 

3,644,781

 

Port of Oakland, Refunding RB,
Series M, AMT (NPFGC), 5.38%,
11/01/27

 

 

7,530

 

 

7,375,409

 

Riverside County Public Financing
Authority, Tax Allocation Bonds,
Redevelopment Projects (Syncora),
5.00%, 10/01/35

 

 

10,000

 

 

8,692,000

 

State of California, GO, Series 2007-2
(NPFGC), 5.50%, 4/01/30

 

 

10

 

 

10,129

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

ARB

Airport Revenue Bonds

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

EDA

Economic Development Authority

FGIC

Financial Guaranty Insurance Co.

FSA

Financial Security Assurance Inc.

GAN

Grant Anticipation Notes

GNMA

Government National Mortgage Association

GO

General Obligation Bonds

HFA

Housing Finance Agency

HRB

Housing Revenue Bonds

ISD

Independent School District

MRB

Mortgage Revenue Bonds

NPFGC

National Public Finance Guarantee Corp.

PSF-GTD

Permanent School Fund Guaranteed

RB

Revenue Bonds

S/F

Single-Family

 

 

 

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

Stockton Public Financing Authority
California, RB, Parking & Capital
Projects (NPFGC), 5.25%, 9/01/34

 

$

5,000

 

$

4,852,600

 

West Valley-Mission Community College
District, GO, Election of 2004, Series A
(AGM), 5.00%, 8/01/30

 

 

3,600

 

 

3,702,852

 

 

 

 

 

 

 

 

 

 

 

 

130,556,984

 

District of Columbia — 1.1%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB, Series B, AMT (AMBAC),
5.00%, 10/01/32

 

 

10,000

 

 

9,919,700

 

Florida — 16.7%

 

 

 

 

 

 

 

Broward County School Board Florida,
COP, Series A (AGM), 5.25%, 7/01/33

 

 

15,000

 

 

15,481,350

 

City of Orlando Florida, RB, Senior, 6th
Cent Contract Payments, Series A
(AGC), 5.25%, 11/01/38

 

 

14,250

 

 

14,320,110

 

City of Tallahassee Florida, RB (NPFGC),
5.00%, 10/01/32

 

 

3,300

 

 

3,365,439

 

Collier County School Board, COP (AGM),
5.00%, 2/15/23

 

 

5,000

 

 

5,158,800

 

County of Broward Florida, RB, Series A,
5.25%, 10/01/34

 

 

2,250

 

 

2,347,852

 

County of Miami-Dade Florida, GO,
Building Better Communities Program:

 

 

 

 

 

 

 

Series B, 6.38%, 7/01/28

 

 

6,000

 

 

6,847,380

 

Series B-1, 5.75%, 7/01/33

 

 

3,700

 

 

3,992,004

 

County of Miami-Dade Florida, RB:

 

 

 

 

 

 

 

Jackson Health System (AGC),
5.75%, 6/01/39

 

 

5,200

 

 

5,472,428

 

Miami International Airport, AMT
(NPFGC), 5.38%, 10/01/25

 

 

10,650

 

 

10,696,114

 

Miami International Airport, AMT
(NPFGC), 5.38%, 10/01/27

 

 

1,000

 

 

1,002,530

 

Miami International Airport, Series
A, AMT (AGM), 5.50%, 10/01/41

 

 

14,900

 

 

15,069,264

 

Water & Sewer System (AGM),
5.00%, 10/01/39

 

 

11,700

 

 

11,986,065

 

County of Miami-Dade Florida,
Refunding RB:

 

 

 

 

 

 

 

(AGM), 5.00%, 7/01/35

 

 

2,800

 

 

2,856,252

 

Miami International Airport, AMT
(AGC), 5.00%, 10/01/40

 

 

15,000

 

 

14,279,700

 

Miami International Airport, Series
A, AMT (AGC), 5.00%, 10/01/35

 

 

6,600

 

 

6,351,708

 

Series C, (BHAC), 6.00%, 10/01/23

 

 

20,095

 

 

23,328,085

 

Miami-Dade County School Board, COP,
Refunding, Series B (AGC), 5.25%,
5/01/31

 

 

4,125

 

 

4,260,960

 

Sarasota County Public Hospital District,
RB, Sarasota Memorial Hospital
Project, Series A, 5.63%, 7/01/39

 

 

5,135

 

 

5,322,479

 

 

 

 

 

 

 

 

 

 

 

 

152,138,520

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Georgia — 1.7%

 

 

 

 

 

 

 

City of Atlanta Georgia, RB, General,
Series B (AGM), 5.25%, 1/01/33

 

$

12,500

 

$

12,804,250

 

Gwinnett County Hospital Authority,
Refunding RB, Gwinnett Hospital
System, Series D (AGM), 5.50%, 7/01/41

 

 

2,275

 

 

2,312,492

 

 

 

 

 

 

 

 

 

 

 

 

15,116,742

 

Illinois — 14.6%

 

 

 

 

 

 

 

Chicago Board of Education Illinois, GO,
Refunding, CAB, School Reform,
Series A (NPFGC), 5.38%,
12/01/22 (b)

 

 

10,515

 

 

5,768,214

 

City of Chicago Illinois, ARB, General,
Third Lien, Series B-2, AMT (NPFGC):

 

 

 

 

 

 

 

5.25%, 1/01/27

 

 

16,685

 

 

16,772,096

 

6.00%, 1/01/27

 

 

26,230

 

 

27,364,972

 

City of Chicago Illinois, GO, CAB, City
Colleges (NPFGC), 5.53%,
1/01/29 (b)

 

 

5,000

 

 

1,879,550

 

City of Chicago Illinois, GO, Refunding,
Series B (AGM), 5.00%, 1/01/24

 

 

12,950

 

 

13,697,344

 

City of Chicago Illinois, Refunding ARB,
General, Third Lien, Series C-2, AMT
(AGM), 5.25%, 1/01/30

 

 

16,400

 

 

16,358,836

 

Illinois Finance Authority, Refunding RB,
Northwestern Memorial Hospital,
Series A, 6.00%, 8/15/39

 

 

5,250

 

 

5,725,597

 

Illinois Municipal Electric Agency, RB,
Series A (NPFGC):

 

 

 

 

 

 

 

5.00%, 2/01/35

 

 

21,200

 

 

21,331,228

 

5.25%, 2/01/35

 

 

15,000

 

 

15,306,150

 

Kane, Kendall, Etc. Counties Community
College District No. 516 Illinois, GO,
CAB, Series E (NPFGC), 5.20%,
12/15/25 (b)

 

 

8,750

 

 

3,923,325

 

Regional Transportation Authority, RB,
Series C (NPFGC), 7.75%, 6/01/20

 

 

1,000

 

 

1,283,380

 

State of Illinois, RB, Build Illinois, Series
B, 5.25%, 6/15/34

 

 

3,500

 

 

3,646,580

 

 

 

 

 

 

 

 

 

 

 

 

133,057,272

 

Indiana — 2.0%

 

 

 

 

 

 

 

City of Indianapolis Indiana, Refunding
RB, Second Lien, Series B (AGC),
5.25%, 8/15/27

 

 

5,000

 

 

5,338,800

 

Indiana Health Facility Financing
Authority, RB, Deaconess Hospital
Obligation, Series A (AMBAC), 5.38%,
3/01/34

 

 

2,150

 

 

2,150,193

 

Indiana Municipal Power Agency, RB:

 

 

 

 

 

 

 

Indiana Municipal Power Agency,
Series B, 5.75%, 1/01/34

 

 

1,050

 

 

1,108,832

 

Series A (NPFGC), 5.00%, 1/01/37

 

 

9,200

 

 

9,251,152

 

 

 

 

 

 

 

 

 

 

 

 

17,848,977

 

 

 

 

2

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Iowa — 1.7%

 

 

 

 

 

 

 

Iowa Finance Authority, RB, Series A
(AGC), 5.63%, 8/15/37

 

$

12,650

 

$

13,502,104

 

Iowa Finance Authority, Refunding RB,
Iowa Health System (AGC), 5.25%,
2/15/29

 

 

1,600

 

 

1,649,872

 

 

 

 

 

 

 

 

 

 

 

 

15,151,976

 

Kentucky — 1.6%

 

 

 

 

 

 

 

Kentucky State Property & Buildings
Commission, Refunding RB, Project
No. 93 (AGC), 5.25%, 2/01/28

 

 

4,000

 

 

4,326,000

 

Louisville & Jefferson County
Metropolitan Sewer District Kentucky,
RB, Series A (NPFGC), 5.25%,
5/15/37

 

 

10,000

 

 

10,413,800

 

 

 

 

 

 

 

 

 

 

 

 

14,739,800

 

Louisiana — 1.5%

 

 

 

 

 

 

 

New Orleans Aviation Board Louisiana,
RB, New Orleans Aviation , Series A,
AMT (AGM), 5.25%, 1/01/32

 

 

13,335

 

 

13,197,783

 

Maryland — 0.5%

 

 

 

 

 

 

 

Maryland Community Development
Administration, Refunding RB,
Residential, Series A, AMT, 5.75%,
9/01/39

 

 

4,735

 

 

4,923,832

 

Massachusetts — 5.9%

 

 

 

 

 

 

 

Massachusetts HFA, RB:

 

 

 

 

 

 

 

S/F Housing, Series 128, AMT
(AGM), 4.88%, 12/01/38

 

 

12,405

 

 

11,790,208

 

Series B, 7.00%, 12/01/38

 

 

3,440

 

 

3,839,006

 

Massachusetts HFA, Refunding RB:

 

 

 

 

 

 

 

Housing Development, Series B,
(NPFGC), 5.40%, 12/01/28

 

 

1,835

 

 

1,776,390

 

Rental Housing, Series A, AMT
(AGM), 5.15%, 7/01/26

 

 

19,055

 

 

19,337,205

 

Massachusetts Port Authority, Refunding
RB, BOSFUEL Project, AMT (NPFGC),
5.00%, 7/01/38

 

 

18,415

 

 

17,252,645

 

 

 

 

 

 

 

 

 

 

 

 

53,995,454

 

Michigan — 7.6%

 

 

 

 

 

 

 

City of Detroit Michigan, RB, Second
Lien, (AGM), Series B:

 

 

 

 

 

 

 

7.50%, 7/01/33

 

 

1,800

 

 

2,161,368

 

6.25%, 7/01/36

 

 

1,075

 

 

1,173,610

 

7.00%, 7/01/36

 

 

500

 

 

575,965

 

City of Detroit Michigan, Refunding RB:

 

 

 

 

 

 

 

Senior Lien, Series C-1 (AGM),
7.00%, 7/01/27

 

 

1,500

 

 

1,747,185

 

Senior Lien, Series D (AGM), 5.00%,
7/01/23

 

 

9,085

 

 

9,263,066

 

Series C (NPFGC), 5.00%, 7/01/22

 

 

5,540

 

 

5,645,703

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Michigan (concluded)

 

 

 

 

 

 

 

Michigan Higher Education Student
Loan Authority, RB, Student Loan,
Series XVII-Q, AMT (AMBAC), 5.00%,
3/01/31

 

$

4,325

 

$

4,053,347

 

Michigan State Building Authority,
Refunding RB, Facilities Program,
Series I:

 

 

 

 

 

 

 

6.25%, 10/15/38

 

 

3,125

 

 

3,439,188

 

(AGC), 5.25%, 10/15/24

 

 

1,750

 

 

1,867,390

 

(AGC), 5.25%, 10/15/25

 

 

3,250

 

 

3,443,732

 

Michigan Strategic Fund, Refunding RB,
AMT, Detroit Edison Co. (Syncora):

 

 

 

 

 

 

 

Pollution, Series C, 5.65%, 9/01/29

 

 

2,935

 

 

2,931,331

 

Project, Series A, 5.50%, 6/01/30

 

 

8,000

 

 

7,680,320

 

State of Michigan, RB, GAN (AGM):

 

 

 

 

 

 

 

5.25%, 9/15/21

 

 

2,485

 

 

2,685,863

 

5.25%, 9/15/22

 

 

10,000

 

 

10,737,600

 

5.25%, 9/15/26

 

 

6,650

 

 

6,989,549

 

Wayne County Airport Authority,
Refunding RB, AMT (AGC), 5.38%,
12/01/32

 

 

5,000

 

 

4,645,050

 

 

 

 

 

 

 

 

 

 

 

 

69,040,267

 

Minnesota — 0.7%

 

 

 

 

 

 

 

City of Minneapolis Minnesota,
Refunding RB, Fairview Health
Services, Series B (AGC), 6.50%,
11/15/38

 

 

5,500

 

 

6,169,240

 

Missouri — 0.00%

 

 

 

 

 

 

 

Missouri Housing Development
Commission, RB, S/F Homeowner
Loan, Series C-1, AMT (GNMA), 7.15%,
3/01/32

 

 

75

 

 

80,175

 

Nevada — 5.5%

 

 

 

 

 

 

 

City of Las Vegas Nevada, GO, Limited
Tax, Performing Arts Center, 6.00%,
4/01/34

 

 

2,250

 

 

2,485,170

 

County of Clark Nevada, RB:

 

 

 

 

 

 

 

Las Vegas-McCarran International
Airport, Series A, (AGC), 5.25%,
7/01/39

 

 

5,170

 

 

5,263,784

 

Southwest Gas Corp. Project,
Series A, AMT (AMBAC), 5.25%,
7/01/34

 

 

12,675

 

 

11,529,180

 

Subordinate Lien, Series A-2
(NPFGC), 5.00%, 7/01/30

 

 

20,000

 

 

20,043,400

 

Subordinate Lien, Series A-2
(BHAC), 5.00%, 7/01/30

 

 

750

 

 

765,780

 

Las Vegas Convention & Visitors
Authority, RB (AMBAC), 5.00%,
7/01/37

 

 

10,000

 

 

9,838,700

 

 

 

 

 

 

 

 

 

 

 

 

49,926,014

 

 

 

 

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey — 3.4%

 

 

 

 

 

 

 

New Jersey EDA, RB, Cigarette Tax,
5.75%, 6/15/34

 

$

5,000

 

$

4,841,300

 

New Jersey EDA, Refunding RB, School
Facilities Construction, Series N-1:

 

 

 

 

 

 

 

(AMBAC), 5.50%, 9/01/24

 

 

10,000

 

 

11,239,300

 

(NPFGC), 5.50%, 9/01/28

 

 

2,165

 

 

2,390,247

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System:

 

 

 

 

 

 

 

CAB, Series C, (AGC), 5.70%,
12/15/25 (b)

 

 

15,735

 

 

7,285,777

 

Series A (NPFGC), 5.75%, 6/15/25

 

 

4,400

 

 

5,093,176

 

 

 

 

 

 

 

 

 

 

 

 

30,849,800

 

New York — 2.6%

 

 

 

 

 

 

 

City of New York New York, GO:

 

 

 

 

 

 

 

Series J, 5.25%, 5/15/24

 

 

10,000

 

 

10,828,500

 

Series M (AGC), 5.00%, 4/01/30

 

 

5,000

 

 

5,232,150

 

New York City Transitional Finance
Authority, RB, Fiscal 2009, Series S-4,
5.50%, 1/15/34

 

 

7,250

 

 

7,930,993

 

 

 

 

 

 

 

 

 

 

 

 

23,991,643

 

Ohio — 0.4%

 

 

 

 

 

 

 

Ohio Higher Educational Facility
Commission, Refunding RB, Summa
Health System, 2010 Project (AGC),
5.25%, 11/15/40 (c)

 

 

3,400

 

 

3,329,484

 

Pennsylvania — 3.0%

 

 

 

 

 

 

 

Pennsylvania HFA, RB, S/F Mortgage,
Series 70A, AMT, 5.80%, 4/01/27

 

 

4,740

 

 

4,746,494

 

Pennsylvania Turnpike Commission, RB:

 

 

 

 

 

 

 

Series A (AMBAC), 5.50%,
12/01/31

 

 

15,600

 

 

16,431,168

 

Sub-Series C (AGC), 6.25%,
6/01/38

 

 

5,695

 

 

6,572,656

 

 

 

 

 

 

 

 

 

 

 

 

27,750,318

 

Puerto Rico — 2.8%

 

 

 

 

 

 

 

Puerto Rico Public Buildings Authority,
Refunding RB, Government Facilities,
Series M-3 (NPFGC):

 

 

 

 

 

 

 

6.00%, 7/01/26

 

 

4,740

 

 

5,021,746

 

6.00%, 7/01/27

 

 

4,235

 

 

4,475,124

 

6.00%, 7/01/28

 

 

2,750

 

 

2,892,807

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.38%,
8/01/39

 

 

10,195

 

 

11,447,252

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, Series A (NPFGC),
5.71%, 8/01/41 (b)

 

 

7,500

 

 

1,184,625

 

 

 

 

 

 

 

 

 

 

 

 

25,021,554

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

South Carolina — 1.0%

 

 

 

 

 

 

 

Charleston Educational Excellence
Finance Corp., RB, Charleston County
School (AGC):

 

 

 

 

 

 

 

5.25%, 12/01/28

 

$

3,895

 

$

4,045,503

 

5.25%, 12/01/29

 

 

3,215

 

 

3,324,792

 

5.25%, 12/01/30

 

 

1,160

 

 

1,196,145

 

South Carolina State Housing Finance &
Development Authority, Refunding RB,
Series A-2, AMT (AGM), 6.35%,
7/01/19

 

 

515

 

 

522,643

 

 

 

 

 

 

 

 

 

 

 

 

9,089,083

 

Tennessee — 0.2%

 

 

 

 

 

 

 

Tennessee Housing Development
Agency, Refunding RB,
Homeownership Program, Series A,
AMT (AGM), 5.35%, 1/01/26

 

 

1,700

 

 

1,709,622

 

Texas — 16.5%

 

 

 

 

 

 

 

City of Houston Texas, RB, Combined,
First Lien, Series A (AGM), 5.00%,
11/15/36

 

 

10,000

 

 

10,400,900

 

City of Houston Texas, Refunding RB,
Combined, First Lien, Series A (AGC):

 

 

 

 

 

 

 

6.00%, 11/15/35

 

 

5,700

 

 

6,539,040

 

5.38%, 11/15/38

 

 

3,650

 

 

3,955,542

 

Dallas ISD, GO, School Building
(PSF-GTD), 6.38%, 2/15/34

 

 

10,000

 

 

11,946,900

 

Dallas-Fort Worth International Airport

 

 

 

 

 

 

 

Facilities Improvement Corp.,
Refunding RB, Joint Series A, AMT
(NPFGC), 5.63%, 11/01/26

 

 

15,000

 

 

15,160,050

 

Grand Prairie ISD Texas, GO, Refunding,
CAB, 6.58%, 8/15/28 (b)

 

 

10,000

 

 

3,310,900

 

Harris County Hospital District, RB,
Senior Lien, Series A (NPFGC), 5.25%,
2/15/37

 

 

9,650

 

 

9,365,711

 

Harris County-Houston Sports Authority,
Refunding RB, Senior Lien, Series G
(NPFGC):

 

 

 

 

 

 

 

5.75%, 11/15/19

 

 

265

 

 

269,608

 

5.75%, 11/15/20

 

 

3,500

 

 

3,552,185

 

5.25%, 11/15/30

 

 

9,800

 

 

9,168,684

 

Judson ISD Texas, GO, School Building
(AGC), 5.00%, 2/01/37

 

 

10,000

 

 

10,240,900

 

Leander ISD Texas, GO, Refunding, CAB,
School Building (PSF-GTD), 5.51%,
8/15/36 (b)

 

 

15,000

 

 

3,602,550

 

Matagorda County Navigation District
No. 1 Texas, Refunding RB, Central
Power & Light Co. Project, AMT
(NPFGC), 5.20%, 5/01/30

 

 

6,150

 

 

5,971,404

 

North Texas Tollway Authority, Refunding
RB, First Tier:

 

 

 

 

 

 

 

Series A, 6.00%, 1/01/28

 

 

6,275

 

 

6,840,566

 

System, Series A (NPFGC), 5.13%,
1/01/28

 

 

21,750

 

 

22,309,845

 

 

 

 

4

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

North Texas Tollway Authority, Refunding
RB, First Tier (concluded):

 

 

 

 

 

 

 

System, Series B (NPFGC), 5.75%,
1/01/40

 

$

10,000

 

$

10,465,700

 

Texas Department of Housing &
Community Affairs, MRB, Series A,
AMT (NPFGC), 5.45%, 9/01/23

 

 

4,060

 

 

4,113,389

 

Texas State Turnpike Authority, RB, First
Tier, Series A (AMBAC):

 

 

 

 

 

 

 

5.50%, 8/15/39

 

 

5,500

 

 

5,550,105

 

5.00%, 8/15/42

 

 

8,000

 

 

7,677,920

 

 

 

 

 

 

 

 

 

 

 

 

150,441,899

 

Utah — 1.9%

 

 

 

 

 

 

 

Utah Transit Authority, Refunding RB,
CAB, Sub-Series A (b):

 

 

 

 

 

 

 

(AGC), 5.37%, 6/15/20

 

 

15,930

 

 

10,160,632

 

(NPFGC), 5.21%, 6/15/24

 

 

13,930

 

 

6,904,683

 

 

 

 

 

 

 

 

 

 

 

 

17,065,315

 

Vermont — 0.3%

 

 

 

 

 

 

 

Vermont HFA, HRB, Series 12B, AMT
(AGM), 6.30%, 11/01/19

 

 

305

 

 

311,173

 

Vermont HFA, Refunding RB, Multiple
Purpose, Series C, AMT (AGM), 5.50%,
11/01/38

 

 

2,695

 

 

2,749,870

 

 

 

 

 

 

 

 

 

 

 

 

3,061,043

 

Washington — 4.1%

 

 

 

 

 

 

 

Chelan County Public Utility District No.
1, RB, Chelan Hydro System, Series A,
AMT (AMBAC), 5.45%, 7/01/37

 

 

3,030

 

 

2,995,882

 

Chelan County Public Utility District No.
1, Refunding RB, Chelan Hydro
System, Series C, AMT (NPFGC),
5.65%, 7/01/32

 

 

6,000

 

 

6,039,540

 

Radford Court Properties Washington,
RB (NPFGC), 5.75%, 6/01/32

 

 

10,000

 

 

10,121,100

 

Seattle Housing Authority Washington,
RB, Capital Fund Program, High Rise
Rehabilitation, Series III, AMT (AGM),
5.15%, 11/01/27

 

 

6,255

 

 

6,356,081

 

Washington Health Care Facilities
Authority, RB, Providence Health
System, Series A (NPFGC), 5.25%,
10/01/21

 

 

5,575

 

 

5,694,918

 

Washington Health Care Facilities
Authority, Refunding RB, Catholic
Health Initiatives, Series D, 6.38%,
10/01/36

 

 

5,400

 

 

5,951,664

 

 

 

 

 

 

 

 

 

 

 

 

37,159,185

 

Wisconsin — 0.8%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

 

Ascension Health Senior Credit
Group, 5.00%, 11/15/33

 

 

3,745

 

 

3,816,080

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Wisconsin (concluded)

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, RB (concluded):

 

 

 

 

 

 

 

SynergyHealth Inc., 6.00%,
11/15/32

 

$

3,395

 

$

3,493,387

 

 

 

 

 

 

 

 

 

 

 

 

7,309,467

 

Total Municipal Bonds – 116.9%

 

 

 

 

 

1,063,688,711

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (d)

 

 

 

 

 

 

 

California — 12.4%

 

 

 

 

 

 

 

Alameda County Joint Powers Authority,
Refunding RB, Lease (AGM), 5.00%,
12/01/34

 

 

6,990

 

 

7,167,057

 

California State University, RB,
Systemwide, Series A (AGM), 5.00%,
11/01/33

 

 

7,996

 

 

8,096,484

 

California State University, Refunding
RB, Systemwide, Series A (AGM),
5.00%, 11/01/37

 

 

18,435

 

 

18,695,919

 

City of Riverside California, RB, Issue D
(AGM), 5.00%, 10/01/38

 

 

20,000

 

 

20,094,800

 

Foothill-De Anza Community College
District, GO, Series 3183X (NPFGC),
5.00%, 5/07/10

 

 

7,500

 

 

7,650,600

 

Las Virgenes Unified School District
California, GO, Series A (AGM), 5.00%,
8/01/31

 

 

10,000

 

 

10,236,416

 

Los Angeles Community College District
California, GO, 2008 Election, Series
A, 6.00%, 8/01/33

 

 

5,248

 

 

5,884,287

 

Orange County Sanitation District, COP,
Series B (AGM), 5.00%, 2/01/37

 

 

10,780

 

 

11,198,264

 

San Diego Community College District
California, GO, Election of 2002,
5.25%, 8/01/33

 

 

1,047

 

 

1,099,414

 

San Diego County Water Authority, COP,
Refunding, Series 2008-A (AGM),
5.00%, 5/01/33

 

 

9,370

 

 

9,662,906

 

San Francisco Bay Area Rapid Transit
District, RB (AGM), 5.00%, 7/01/36

 

 

10,000

 

 

10,187,591

 

University of California, RB, Series O,
5.75%, 5/15/34

 

 

2,205

 

 

2,475,752

 

 

 

 

 

 

 

 

 

 

 

 

112,449,490

 

Colorado — 0.3%

 

 

 

 

 

 

 

Colorado Health Facilities Authority,
Refunding RB, Catholic Healthcare,
Series A, 5.50%, 7/01/34

 

 

2,469

 

 

2,618,779

 

 

 

 

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010

5


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (d)

 

Par
(000)

 

Value

 

Connecticut — 0.6%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University,
Series T-1, 4.70%, 7/01/29

 

$

5,010

 

$

5,255,791

 

District of Columbia — 0.9%

 

 

 

 

 

 

 

District of Columbia, RB, Series A,
5.50%, 12/01/30

 

 

2,595

 

 

2,913,303

 

District of Columbia Water & Sewer
Authority, RB, Series A, 6.00%,
10/01/35

 

 

4,281

 

 

4,822,162

 

 

 

 

 

 

 

 

 

 

 

 

7,735,465

 

Florida — 0.4%

 

 

 

 

 

 

 

Florida State Board of Education, GO,
Series D, 5.00%, 6/01/37

 

 

3,299

 

 

3,441,025

 

Georgia — 1.1%

 

 

 

 

 

 

 

Metropolitan Atlanta Rapid Transit
Authority, RB, Third Indenture, Series
B (AGM), 5.00%, 7/01/37

 

 

10,000

 

 

10,433,814

 

Hawaii — 1.1%

 

 

 

 

 

 

 

Honolulu City & County Board of Water
Supply, RB, Series A (NPFGC), 5.00%,
7/01/33

 

 

9,830

 

 

10,044,294

 

Illinois — 2.6%

 

 

 

 

 

 

 

City of Chicago Illinois, GO, Refunding,
Series A (AGC), 5.25%, 1/01/24

 

 

11,000

 

 

12,021,350

 

Illinois Finance Authority, RB, University
of Chicago, Series B, 6.25%, 7/01/38

 

 

10,000

 

 

11,546,700

 

 

 

 

 

 

 

 

 

 

 

 

23,568,050

 

Kentucky — 0.7%

 

 

 

 

 

 

 

Kentucky State Property & Building
Commission, Refunding RB, Project
No. 93 (AGC), 5.25%, 2/01/27

 

 

5,985

 

 

6,464,916

 

Louisiana — 1.1%

 

 

 

 

 

 

 

State of Louisiana, RB, Series A (AGM),
5.00%, 5/01/36

 

 

10,000

 

 

10,260,500

 

Nevada — 0.6%

 

 

 

 

 

 

 

Clark County Water Reclamation District,
GO, Series B:

 

 

 

 

 

 

 

5.50%, 7/01/29

 

 

510

 

 

559,427

 

5.75%, 7/01/34

 

 

4,813

 

 

5,337,469

 

 

 

 

 

 

 

 

 

 

 

 

5,896,896

 

New Jersey — 1.4%

 

 

 

 

 

 

 

Garden State Preservation Trust, RB,
Election of 2005, Series A (AGM),
5.75%, 11/01/28

 

 

10,000

 

 

12,317,200

 

New York — 4.7%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB, Series DD, 5.00%,
6/15/37

 

 

17,567

 

 

18,377,790

 

Port Authority of New York & New Jersey,
RB, Consolidated, 155th Series, AMT
(AGM), 5.13%, 7/15/30

 

 

19,500

 

 

19,793,475

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (d)

 

Par
(000)

 

Value

 

New York (concluded)

 

 

 

 

 

 

 

Triborough Bridge & Tunnel Authority,
RB, General, Series A-2, 5.25%,
11/15/34

 

$

4,500

 

$

4,839,480

 

 

 

 

 

 

 

 

 

 

 

 

43,010,745

 

Ohio — 0.7%

 

 

 

 

 

 

 

County of Montgomery Ohio, RB,
Catholic Health, Series C-1 (FSA),
5.00%, 10/01/41 (e)

 

 

4,990

 

 

4,989,801

 

State of Ohio, RB, Cleveland Clinic
Health, Series B, 5.50%, 1/01/34

 

 

1,520

 

 

1,602,338

 

 

 

 

 

 

 

 

 

 

 

 

6,592,139

 

South Carolina — 0.6%

 

 

 

 

 

 

 

South Carolina State Housing Finance &
Development Authority, Refunding RB,
Series B-1, 5.55%, 7/01/39

 

 

4,968

 

 

5,120,954

 

Texas — 3.8%

 

 

 

 

 

 

 

Friendswood ISD Texas, GO,
Schoolhouse (PSF-GTD), 5.00%,
2/15/37

 

 

12,955

 

 

13,593,148

 

Houston ISD, GO, Schoolhouse (PSF-
GTD), 5.00%, 2/15/33

 

 

10,000

 

 

10,522,200

 

Texas State University Systems,
Refunding RB, 5.25%, 3/15/26

 

 

10,000

 

 

10,879,100

 

 

 

 

 

 

 

 

 

 

 

 

34,994,448

 

Virginia — 0.5%

 

 

 

 

 

 

 

University of Virginia, Refunding RB,
General, 5.00%, 6/01/40

 

 

3,950

 

 

4,181,272

 

Washington — 6.0%

 

 

 

 

 

 

 

Central Puget Sound Regional Transit
Authority, RB, Series A (AGM), 5.00%,
11/01/34

 

 

16,770

 

 

17,811,669

 

County of King Washington, RB (AGM),
5.00%, 1/01/37

 

 

15,785

 

 

16,459,859

 

Port of Seattle Washington, Refunding
RB, Series B, AMT (NPFGC), 5.20%,
7/01/29

 

 

20,565

 

 

20,440,131

 

 

 

 

 

 

 

 

 

 

 

 

 

54,711,659

 

Wisconsin — 0.4%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, Refunding RB,
Froedtert & Community Health Inc.,
5.25%, 4/01/39

 

 

3,959

 

 

4,055,238

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 39.5%

 

 

 

 

 

363,152,675

 

Total Long-Term Investments
(Cost – $1,388,848,080) – 156.8%

 

 

 

 

 

1,426,841,386

 

 

 

 

 

 

 

 

 

 

 

 

6

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

FFI Institutional Tax-Exempt Fund,
0.25% (f)(g)

 

 

15,833,610

 

$

15,833,610

 

Total Short-Term Securities
(Cost – $15,833,610) – 1.7%

 

 

 

 

 

15,833,610

 

Total Investments
(Cost – $1,404,681,690*) – 158.5%

 

 

 

 

 

1,442,674,996

 

Other Assets Less Liabilities – 0.7%

 

 

 

 

 

6,063,627

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (20.0)%

 

 

 

 

 

(182,089,453

)

Preferred Shares, at Redemption Value – (39.2)%

 

 

 

 

 

(356,518,455

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

910,130,715

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of April 30, 2010, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

1,222,805,875

 

 

 

Gross unrealized appreciation

 

$

47,739,698

 

Gross unrealized depreciation

 

 

(13,557,823

)

 

 

Net unrealized appreciation

 

$

34,181,875

 

 

 

 

 

(a)

Represents a step-up bond that pays an initial coupon rate for the first period and then a lower coupon rate for the following periods. Rate shown reflects the current yield.

 

 

(b)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(c)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

JPMorgan Securities

 

$

3,329,484

 

$

15,300

 

 

 

(d)

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.

 

 

(e)

Variable rate security. Rate shown is as of report date.

 

 

(f)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
July 31,
2009

 

Net Activity

 

Shares
Held at
April 30,
2010

 

Income

 

FFI Institutional
Tax-Exempt
Fund

 

 

33,611,786

 

 

(17,778,176

)

 

15,833,610

 

$

33,859

 

 

 

 

(g)

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 methodologies 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 April 30, 2010 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

1,426,841,386

 

 

—

 

$

1,426,841,386

 

Short-Term
Securities

 

$

15,833,610

 

 

—

 

 

—

 

 

15,833,610

 

Total

 

$

15,833,610

 

$

1,426,841,386

 

 

—

 

$

1,442,674,996

 

 

 

 

 

 

 

1

See above Schedule of Investments for values in each state or political subdivision.

 

 

 

BLACKROCK MUNIYIELD INSURED FUND, INC.

APRIL 30, 2010

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 Insured Fund, Inc.
   
 

By:

 /s/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock MuniYield Insured Fund, Inc.
   
  Date: June 28, 2010
   
  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 Insured Fund, Inc.
   
  Date: June 28, 2010
   
 

By:

 /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniYield Insured Fund, Inc.
   
  Date: June 28, 2010