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: 10/31/2009

Item 1 – Schedule of Investments

 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama - 0.7%

 

Alabama Public School & College Authority, Refunding RB, Series A,
5.00%, 5/01/29

 

$

2,500

 

$

2,564,650

 

 

 

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

 

 

3,605

 

 

3,824,833

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,389,483

 

Alaska - 1.3%

 

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

 

 

10,150

 

 

11,670,876

 

Arizona - 2.4%

 

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

 

 

21,355

 

 

17,069,692

 

 

 

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

 

 

3,905

 

 

4,023,595

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

21,093,287

 

California - 14.1%

 

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

 

 

10,000

 

 

7,633,400

 

 

 

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

 

 

5,000

 

 

5,100,650

 

 

 

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

 

 

7,220

 

 

7,121,086

 

 

 

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

 

 

1,550

 

 

1,606,869

 

 

 

California State Public Works Board, RB, Department Corrections,
Series C, 5.25%, 6/01/28

 

 

3,400

 

 

3,214,666

 

 

 

California Statewide Communities Development Authority, RB, Saint
Joseph, Series E (FSA), 5.25%, 7/01/47

 

 

10,000

 

 

10,120,800

 

 

 

California Statewide Communities Development Authority, RB, Sutter
Health, Series D (FSA), 5.05%, 8/15/38

 

 

5,750

 

 

5,714,982

 

 

 

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

 

 

1,900

 

 

1,929,070

 

 

 

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

 

 

11,965

 

 

11,918,337

 

 

 

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

 

 

15,000

 

 

14,741,400

 

 

 

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

 

 

5,800

 

 

6,135,240

 

 

 

 

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.

 

AMBAC

American Municipal Bond Assurance Corp.

 

AMT

Alternative Minimum Tax (subject to)

 

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

 

ISD

Independent School District

 

MBIA

Municipal Bond Investors Assurance (National Public Finance Guaranty Corp.)

 

PSF

Permanent School Fund Guaranteed

 

RB

Revenue Bonds

 

S/F

Single-Family

 

TAN

Tax Anticipation Notes

1


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

Los Angeles Municipal Improvement Corp., RB, Series B-1 (MBIA),
4.75%, 8/01/37

 

$

15,000

 

$

13,584,750

 

 

 

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

 

 

1,485

 

 

1,459,755

 

 

 

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

 

 

7,620

 

 

1,284,122

 

 

 

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

 

 

2,500

 

 

2,545,450

 

 

 

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

 

 

3,645

 

 

3,648,390

 

 

 

Port of Oakland, RB, Series L, AMT (MBIA), 5.38%, 11/01/27

 

 

8,465

 

 

8,307,128

 

 

 

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

 

 

10,000

 

 

8,405,200

 

 

 

San Mateo Union High School District, California, COP, Convertible
CAB, Phase I Projects, Series B (AMBAC), 4.86%, 12/15/43 (a)

 

 

3,250

 

 

1,518,238

 

 

 

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

 

 

10

 

 

10,144

 

 

 

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

 

 

5,000

 

 

4,696,300

 

 

 

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

 

 

3,600

 

 

3,709,908

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

124,405,885

 

Colorado - 0.4%

 

Colorado Health Facilities Authority, RB, Series C (FSA), 5.25%,
3/01/40

 

 

1,350

 

 

1,346,233

 

 

 

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

 

 

2,475

 

 

2,521,258

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,867,491

 

District of Columbia -
1.1%

 

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

 

 

10,000

 

 

9,892,000

 

Florida - 15.7%

 

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

 

 

15,000

 

 

15,323,700

 

 

 

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

 

 

14,250

 

 

14,305,433

 

 

 

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

 

 

5,000

 

 

5,109,200

 

 

 

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

 

 

2,250

 

 

2,322,675

 

 

 

County of Miami-Dade Florida, GO, Building Better Community
Program, Series B, 6.38%, 7/01/28

 

 

6,000

 

 

6,760,740

 

 

 

County of Miami-Dade Florida, GO, Building Better Community
Program, Series B-1, 5.75%, 7/01/33

 

 

3,700

 

 

3,943,904

 

 

 

County of Miami-Dade Florida, RB, (FSA), 5.00%, 7/01/35

 

 

2,800

 

 

2,820,384

 

 

 

County of Miami Dade Florida, RB, Jackson Health System (AGC),
5.75%, 6/01/39

 

 

5,300

 

 

5,511,894

 

 

 

County of Miami-Dade Florida, RB, Miami International Airport, AMT
(MBIA), 5.38%, 10/01/25

 

 

10,650

 

 

10,699,416

 

 

 

County of Miami-Dade Florida, RB, Miami International Airport, AMT
(MBIA), 5.38%, 10/01/27

 

 

1,000

 

 

1,001,960

 

 

 

County of Miami-Dade Florida, RB, Miami International Airport, AMT
(Syncora), 5.00%, 10/01/40

 

 

15,000

 

 

14,029,650

 

2


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

County of Miami-Dade Florida, RB, Miami International Airport, Series
A, AMT (FSA), 5.50%, 10/01/41

 

$

14,900

 

$

14,962,878

 

 

 

County of Miami-Dade Florida, RB, Miami International Airport, Series
A, AMT (Syncora), 5.00%, 10/01/35

 

 

9,600

 

 

9,092,736

 

 

 

County of Miami-Dade Florida, Refunding RB, Series C, 6.00%,
10/01/23

 

 

20,095

 

 

23,003,349

 

 

 

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

 

 

4,125

 

 

4,235,963

 

 

 

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

 

 

5,135

 

 

5,209,149

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

138,333,031

 

Georgia - 1.4%

 

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

 

 

12,500

 

 

12,737,125

 

Hawaii - 0.2%

 

State of Hawaii, GO, Series CX (FSA), 5.50%, 2/01/21

 

 

2,000

 

 

2,146,500

 

Illinois - 15.5%

 

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

 

 

10,515

 

 

5,462,963

 

 

 

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

 

 

5,000

 

 

1,760,550

 

 

 

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

 

 

12,950

 

 

13,587,010

 

 

 

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

 

 

11,000

 

 

11,933,570

 

 

 

City of Chicago Illinois, RB, General, Airport, 3rd Lien, Series B-2,
AMT (MBIA), 5.25%, 1/01/27

 

 

16,685

 

 

15,956,199

 

 

 

City of Chicago Illinois, RB, General, Airport, 3rd Lien, Series B-2,
AMT (MBIA), 6.00%, 1/01/27

 

 

26,230

 

 

26,564,432

 

 

 

City of Chicago Illinois, Refunding RB, General, Airport, 3rd Lien,
Series C-2, AMT (FSA), 5.25%, 1/01/30

 

 

16,400

 

 

16,257,812

 

 

 

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

 

 

5,250

 

 

5,652,097

 

 

 

Illinois Municipal Electric Agency, RB, Series A (MBIA), 5.00%,
2/01/35

 

 

22,700

 

 

22,766,738

 

 

 

Illinois Municipal Electric Agency, RB, Series A (MBIA), 5.25%,
2/01/35

 

 

15,000

 

 

15,270,300

 

 

 

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

 

 

1,000

 

 

1,268,450

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

136,480,121

 

Indiana - 2.0%

 

City of Indianapolis Indiana, RB, 2nd Lien, Series B (AGC), 5.25%,
8/15/27

 

 

5,000

 

 

5,306,750

 

 

 

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

 

 

2,150

 

 

2,094,315

 

 

 

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

 

 

1,050

 

 

1,078,035

 

 

 

Indiana Municipal Power Agency, Indiana, RB, Series A (MBIA), 5.00%,
1/01/37

 

 

9,200

 

 

9,131,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

17,610,836

 

Iowa - 1.5%

 

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

 

 

12,650

 

 

13,018,241

 

3


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

Kentucky - 1.6%

 

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

 

$

4,000

 

$

4,303,120

 

 

 

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

 

 

10,000

 

 

10,221,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

14,524,820

 

Louisiana - 1.5%

 

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

 

 

13,335

 

 

13,094,170

 

Maryland - 0.6%

 

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

 

 

5,000

 

 

5,137,450

 

Massachusetts - 6.0%

 

Massachusetts HFA, Massachusetts, RB, Housing Development,
Series B (MBIA), 5.40%, 12/01/28

 

 

1,835

 

 

1,750,847

 

 

 

Massachusetts HFA, Massachusetts, RB, Rental Housing, Series A, AMT
(FSA), 5.15%, 7/01/26

 

 

19,055

 

 

19,224,589

 

 

 

Massachusetts HFA, Massachusetts, RB, Series B, 7.00%, 12/01/38

 

 

3,440

 

 

3,810,110

 

 

 

Massachusetts Housing Finance Agency, Massachusetts, RB, S/F
Housing, Series 128, AMT (FSA), 4.88%, 12/01/38

 

 

12,570

 

 

11,746,288

 

 

 

Massachusetts Port Authority, RB, Bosfuel Project, AMT (MBIA),
5.00%, 7/01/38

 

 

18,415

 

 

16,723,951

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

53,255,785

 

Michigan - 7.6%

 

City of Detroit Michigan, RB, Second Lien, Series B (FSA), 6.25%,
7/01/36

 

 

1,075

 

 

1,156,453

 

 

 

City of Detroit Michigan, RB, Second Lien, Series B (FSA), 7.00%,
7/01/36

 

 

500

 

 

586,795

 

 

 

City of Detroit Michigan, RB, Senior Lien, Series B (FSA), 7.50%,
7/01/33

 

 

1,800

 

 

2,222,640

 

 

 

City of Detroit Michigan, Refunding RB, Senior Lien, Series D (FSA),
5.00%, 7/01/23

 

 

9,085

 

 

9,312,125

 

 

 

City of Detroit Michigan, Refunding RB, Series C (MBIA), 5.00%,
7/01/22

 

 

5,540

 

 

5,616,009

 

 

 

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

 

 

4,325

 

 

3,923,900

 

 

 

Michigan State Building Authority, RB Refunding, Facilities Program,
Series I (AGC), 5.25%, 10/15/25

 

 

3,250

 

 

3,407,138

 

 

 

Michigan State Building Authority, RB Refunding, Facilities Program,
Series I (AGC), 5.25%, 10/15/24

 

 

1,750

 

 

1,846,320

 

 

 

Michigan State Building Authority, RB Refunding, Facilities Program,
Series I, 6.25%, 10/15/38

 

 

3,125

 

 

3,369,125

 

 

 

Michigan Strategic Fund, Refunding RB, Detroit Edison Co. Project,
Series A, AMT (Syncora), 5.50%, 6/01/30

 

 

8,000

 

 

7,494,400

 

 

 

Michigan Strategic Fund, Refunding RB, Detroit Edison Pollution,
Series C, AMT (Syncora), 5.65%, 9/01/29

 

 

2,935

 

 

2,869,726

 

 

 

State of Michigan, RB, GAN (FSA), 5.25%, 9/15/21

 

 

2,485

 

 

2,665,361

 

4


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

State of Michigan, RB, GAN (FSA), 5.25%, 9/15/22

 

$

10,000

 

$

10,654,600

 

 

 

State of Michigan, RB, GAN (FSA), 5.25%, 9/15/26

 

 

6,650

 

 

6,954,836

 

 

 

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

 

 

5,000

 

 

4,677,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

66,756,428

 

Minnesota - 0.7%

 

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

 

 

5,500

 

 

6,192,065

 

Missouri - 0.0%

 

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

 

 

80

 

 

85,766

 

Nevada - 5.4%

 

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

 

 

2,250

 

 

2,454,345

 

 

 

County of Clark Nevada, RB, Southwest Gas Corp. Project, Series A,
AMT (AMBAC), 5.25%, 7/01/34

 

 

12,675

 

 

11,397,994

 

 

 

County of Clark Nevada, RB, Subordinate Lien, Series A-2 (MBIA),
5.00%, 7/01/30

 

 

22,250

 

 

22,404,517

 

 

 

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

 

 

11,850

 

 

11,436,079

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

47,692,935

 

New Jersey - 3.7%

 

New Jersey EDA, RB, Cigarette Tax, 5.75%, 6/15/29

 

 

2,060

 

 

1,982,544

 

 

 

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

 

 

5,000

 

 

4,735,450

 

 

 

New Jersey EDA, Refunding RB, School Facilities Construction, Series
N-1 (MBIA), 5.50%, 9/01/28

 

 

2,165

 

 

2,388,363

 

 

 

New Jersey Economic Development Authority, Refunding RB, School
Facilities Construction, Series N-1 (AMBAC), 5.50%, 9/01/24

 

 

10,000

 

 

11,211,900

 

 

 

New Jersey State Transportation Transit Fund Authority, RB (AGC),
5.70%, 12/15/25 (b)

 

 

15,735

 

 

6,925,288

 

 

 

New Jersey Transportation Trust Fund Authority, New Jersey, RB,
Transportation System, Series A (FGIC), 5.75%, 6/15/25

 

 

4,400

 

 

5,049,660

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

32,293,205

 

New Mexico - 0.0%

 

New Mexico Mortgage Finance Authority, RB, S/F Mortgage, Series C-
2, AMT (GNMA), 6.95%, 9/01/31

 

 

260

 

 

274,292

 

New York - 4.2%

 

City of New York New York, GO, Series J, 5.25%, 5/15/24

 

 

10,000

 

 

10,400,500

 

 

 

City of New York New York, GO, Series M (AGC), 5.00%, 4/01/30

 

 

5,000

 

 

5,138,200

 

 

 

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

 

 

7,250

 

 

7,746,045

 

 

 

New York State Dormitory Authority, RB, State University Educational
Facilities, 3rd Generation, Series A (MBIA), 5.50%, 5/15/24

 

 

7,790

 

 

8,597,044

 

 

 

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

 

 

4,500

 

 

4,755,195

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

36,636,984

 

5


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

Ohio - 0.2%

 

County of Montgomery Ohio, Refunding RB, Catholic Healthcare,
Series A, 5.00%, 5/01/39

 

$

1,575

 

$

1,489,210

 

Pennsylvania - 3.1%

 

Pennsylvania Housing Finance Agency, RB, S/F Mortgage Revenue,
Series 70A, AMT, 5.80%, 4/01/27

 

 

4,740

 

 

4,746,446

 

 

 

Pennsylvania Turnpike Commission, RB, Series A (AMBAC), 5.50%,
12/01/31

 

 

15,600

 

 

15,987,972

 

 

 

Pennsylvania Turnpike Commission, RB, Sub-Series C (AGC), 6.25%,
6/01/38

 

 

5,695

 

 

6,264,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

26,998,918

 

Puerto Rico - 2.8%

 

Puerto Rico Public Buildings Authority, Refunding RB, Government
Facilities, Series M-3 (MBIA), 6.00%, 7/01/26

 

 

4,840

 

 

4,994,541

 

 

 

Puerto Rico Public Buildings Authority, Refunding RB, Government
Facilities, Series M-3 (MBIA), 6.00%, 7/01/27

 

 

4,235

 

 

4,364,379

 

 

 

Puerto Rico Public Buildings Authority, Refunding RB, Government
Facilities, Series M-3 (MBIA), 6.00%, 7/01/28

 

 

2,750

 

 

2,835,910

 

 

 

Puerto Rico Sales Tax Financing Corp., RB, CAB, Series A (MBIA),
5.72%, 8/01/41 (b)

 

 

7,500

 

 

1,149,075

 

 

 

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

 

 

10,195

 

 

10,996,123

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

24,340,028

 

South Carolina - 1.0%

 

Charleston Educational Excellence Finance Corp., RB, Charleston
County School (AGC), 5.25%, 12/01/28

 

 

3,895

 

 

4,032,104

 

 

 

Charleston Educational Excellence Finance Corp., RB, Charleston
County School (AGC), 5.25%, 12/01/29

 

 

3,215

 

 

3,314,375

 

 

 

Charleston Educational Excellence Finance Corp., RB, Charleston
County School (AGC), 5.25%, 12/01/30

 

 

1,160

 

 

1,189,058

 

 

 

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

 

 

585

 

 

593,793

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9,129,330

 

Tennessee - 0.2%

 

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

 

 

1,740

 

 

1,747,760

 

Texas - 17.4%

 

City of Houston Texas, Refunding RB, Combined, First Lien, Series A
(AGC), 6.00%, 11/15/35

 

 

5,700

 

 

6,479,532

 

 

 

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

 

 

10,000

 

 

10,185,300

 

 

 

City of Houston Texas, Refunding RB, First Lien, Series A (AGC),
5.38%, 11/15/38

 

 

3,650

 

 

3,857,758

 

 

 

Dallas ISD, GO, School Building, 6.38%, 2/15/34

 

 

10,000

 

 

11,588,600

 

 

 

Dallas-Fort Worth International Airport Facilities Improvement
Corp., Refunding RB & Improvement, Series A, AMT (MBIA),
5.63%, 11/01/26

 

 

15,000

 

 

15,136,800

 

 

 

Grand Prairie ISD, Texas, GO, CAB, Refunding, 6.56%, 8/15/28 (b)

 

 

10,000

 

 

3,129,400

 

6


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

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

 

$

9,650

 

$

9,064,341

 

 

 

Harris County-Houston Sports Authority, RB, Senior Lien, Series G
(MBIA), 5.75%, 11/15/19

 

 

265

 

 

269,685

 

 

 

Harris County-Houston Sports Authority, RB, Senior Lien, Series G
(MBIA), 5.75%, 11/15/20

 

 

3,500

 

 

3,549,525

 

 

 

Harris County-Houston Sports Authority, RB, Senior Lien, Series G
(MBIA), 5.25%, 11/15/30

 

 

10,000

 

 

9,110,000

 

 

 

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

 

 

10,000

 

 

10,151,100

 

 

 

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

 

 

15,000

 

 

3,441,000

 

 

 

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

 

 

6,250

 

 

5,874,938

 

 

 

North Texas Tollway Authority, Refunding RB, First Tier, Series A,
6.00%, 1/01/28

 

 

6,275

 

 

6,604,187

 

 

 

North Texas Tollway Authority, Refunding RB, System, First Tier,
Series A (MBIA), 5.13%, 1/01/28

 

 

21,750

 

 

21,382,425

 

 

 

North Texas Tollway Authority, Refunding RB, System, First Tier,
Series B (MBIA), 5.75%, 1/01/40

 

 

10,000

 

 

10,089,900

 

 

 

Texas Department of Housing & Community Affairs, RB, Mortgage,
Series A, AMT (MBIA), 5.45%, 9/01/23

 

 

4,490

 

 

4,547,517

 

 

 

Texas State Turnpike Authority, RB, First Tier, Series A (AMBAC),
5.50%, 8/15/39

 

 

10,000

 

 

9,846,400

 

 

 

Texas State Turnpike Authority, RB, First Tier, Series A (AMBAC),
5.00%, 8/15/42

 

 

10,000

 

 

9,061,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

153,369,708

 

Utah - 1.8%

 

Utah Transit Authority, Refunding RB, CAB, Sub-Series A (AGC),
5.35%, 6/15/20 (b)

 

 

15,930

 

 

9,657,722

 

 

 

Utah Transit Authority, Refunding RB, CAB, Sub-Series A (MBIA),
5.21%, 6/15/24 (b)

 

 

13,930

 

 

6,469,928

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,127,650

 

Vermont - 0.4%

 

Vermont HFA, Vermont, RB, Housing, Series 12B, AMT (FSA), 6.30%,
11/01/19

 

 

340

 

 

346,916

 

 

 

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

 

 

2,730

 

 

2,753,342

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,100,258

 

Washington - 5.3%

 

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

 

 

3,030

 

 

2,908,648

 

 

 

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

 

 

6,000

 

 

6,017,100

 

 

 

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

 

 

10,000

 

 

10,126,100

 

 

 

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

 

 

6,255

 

 

6,279,395

 

 

 

Skagit County Public Hospital District No. 1, Washington, GO,
Series A (MBIA), 5.25%, 12/01/25

 

 

4,745

 

 

4,818,737

 

7


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds

 

Par
(000)

 

Value

 

 

 

Skagit County Public Hospital District No. 1, Washington, GO,
Series A (MBIA), 5.25%, 12/01/26

 

$

5,450

 

$

5,517,580

 

 

 

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

 

 

5,400

 

 

5,828,004

 

 

 

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

 

 

5,575

 

 

5,622,277

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

47,117,841

 

Wisconsin - 0.4%

 

Wisconsin Health & Educational Facilities Authority, RB,
SynergyHealth Inc., 6.00%, 11/15/32

 

 

3,395

 

 

3,472,168

 

 

 

Total Municipal Bonds - 120.2%

 

 

 

 

 

1,060,481,647

 

 

 

Municipal Bonds Transferred to
Tender Option Bond Trusts (c)

 

 

 

 

 

 

 

California - 10.8%

 

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

 

 

6,990

 

 

7,068,498

 

 

 

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

 

 

18,435

 

 

18,297,616

 

 

 

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

 

 

20,000

 

 

19,818,000

 

 

 

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

 

 

10,000

 

 

10,252,724

 

 

 

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

 

 

5,248

 

 

5,929,752

 

 

 

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

 

 

10,780

 

 

10,982,664

 

 

 

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

 

 

1,047

 

 

1,099,141

 

 

 

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

 

 

9,370

 

 

9,389,302

 

 

 

San Francisco Bay Area Transit Financing Authority, RB (FSA), 5.00%,
7/01/36

 

 

10,000

 

 

10,161,579

 

 

 

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

 

 

2,205

 

 

2,438,487

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

95,437,763

 

District of Columbia -
0.9%

 

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

 

 

2,595

 

 

2,856,498

 

 

 

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

 

 

4,281

 

 

4,784,584

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

7,641,082

 

Connecticut - 0.6%

 

Connecticut State Health & Educational Facility Authority, RB, Yale
University, Series T1, 4.70%, 7/01/29

 

 

5,010

 

 

5,280,039

 

Florida - 0.4%

 

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

 

 

3,299

 

 

3,379,382

 

Georgia - 1.2%

 

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

 

 

10,000

 

 

10,340,468

 

Illinois - 1.9%

 

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

 

 

10,000

 

 

11,313,000

 

 

 

Metropolitan Pier & Exposition Authority, Illinois, Refunding RB,
McCormick Place Expansion, Series B (MBIA), 5.75%, 6/15/23

 

 

4,798

 

 

5,183,488

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,496,488

 

8


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

State

 

Municipal Bonds Transferred to
Tender Option Bond Trusts (c)

 

Par
(000)

 

Value

 

Kentucky - 0.7%

 

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

 

$

5,985

 

$

6,411,216

 

Louisiana - 1.1%

 

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

 

 

10,000

 

 

10,093,900

 

Nevada - 0.6%

 

Clark County Water Reclamation District, GO, Series B, 5.50%,
7/01/29

 

 

510

 

 

554,020

 

 

 

Clark County Water Reclamation District, GO, Series B, 5.75%,
7/01/34

 

 

4,813

 

 

5,233,417

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

5,787,437

 

New Jersey - 1.4%

 

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

 

 

10,000

 

 

12,513,000

 

New York - 4.3%

 

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

 

 

17,567

 

 

17,986,681

 

 

 

Port Authority of New York & New Jersey, RB, Consolidated 37th
Series, AMT (FSA), 5.13%, 7/15/30

 

 

19,500

 

 

19,769,100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

37,755,781

 

Ohio - 0.7%

 

County of Montgomery, Ohio, RB, Catholic Health, Series C1 (FSA),
5.00%, 10/01/41

 

 

4,990

 

 

4,958,263

 

 

 

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

 

 

1,520

 

 

1,575,237

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6,533,500

 

South Carolina - 0.6%

 

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

 

 

4,998

 

 

5,102,965

 

Texas - 3.9%

 

Friendswood Independent School District TX, GO, Schoolhouse,
5.00%, 2/15/37

 

 

12,955

 

 

13,407,560

 

 

 

Houston Independent School District, GO, Schoolhouse, 5.00%,
2/15/33

 

 

10,000

 

 

10,395,500

 

 

 

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

 

 

10,000

 

 

10,763,700

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

34,566,760

 

Virginia - 0.5%

 

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

 

 

3,950

 

 

4,166,934

 

Washington - 6.1%

 

Central Puget Sound Regional Transportation Authority, Washington,
RB, Series A (FSA), 5.00%, 11/01/34

 

 

17,000

 

 

17,451,030

 

 

 

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

 

 

15,785

 

 

16,147,376

 

 

 

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

 

 

20,565

 

 

19,947,480

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

53,545,886

 

Wisconsin - 0.4%

 

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

 

 

3,960

 

 

3,889,451

 

 

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts - 36.1%

 

 

 

 

 

318,942,052

 

 

 

Total Long-Term Investments
(Cost - $1,368,834,173) - 156.3%

 

 

 

 

 

1,379,423,699

 

9


 

 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

 

 

Schedule of Investments October 31, 2009 (Unaudited)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

 

 

FFI Institutional Tax-Exempt Fund, 0.23% (d)(e)

 

 

13,000,000

 

$

13,000,000

 

 

 

Total Short-Term Securities
(Cost - $13,000,000) - 1.5%

 

 

 

 

 

13,000,000

 

 

 

Total Investments (Cost - $1,381,834,173*) - 157.8%

 

 

 

 

 

1,392,423,699

 

 

 

Other Assets Less Liabilities - 1.6%

 

 

 

 

 

14,113,277

 

 

 

Liability for Trust Certificates, Including
Interest Expense & Fees Payable - (19.0)%

 

 

 

 

 

(167,835,209

)

 

 

Preferred Shares, at Redemption Value - (40.4)%

 

 

 

 

 

(356,509,103

)

 

 

 

 

 

 

 

 

 

Net Assets Applicable to Common Shares - 100.0%

 

 

 

 

$

882,192,664

 

 

 

 

 

 

 

 

 

 

 

 

  *

The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

1,201,430,443

 

 

 

Gross unrealized appreciation

 

$

47,194,910

 

Gross unrealized depreciation

 

 

(23,856,812

)

 

 

Net unrealized appreciation

 

$

23,338,098

 

 

 

 

 

 

 

(a)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.

 

 

 

 

(b)

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

 

 

 

 

(c)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

 

 

(d)

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

 

 

 

 

 

 

 

 

Affiliate

 

Net Activity

 

Income

 

FFI Institutional Tax-Exempt Fund

 

$

(20,611,786

)

$

19,410

 

 

 

 

 

(e)

Represents the current yield as of report date.

10


 

BlackRock MuniYield Insured Fund, Inc. (MYI)

 

Schedule of Investments October 31, 2009 (Unaudited)

 

 

 

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

 

 

 

 

 

•

Level 1 - price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

 

 

 

 

•

Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

 

 

 

 

•

Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

 

 

 

 

 

 

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

 

 

 

 

 

 

 

The following table summarizes the inputs used as of October 31, 2009 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

Valuation
Inputs

 

Investments in
Securities

 

 

 

Assets

 

 

 

Level 1 - Short-Term Securities

 

$

13,000,000

 

Level 2 - Long-Term Investments1

 

 

1,379,423,699

 

Level 3

 

 

—

 

Total

 

$

1,392,423,699

 

 

 

 

 

 

 

1

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

11

 

 

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: December 18, 2009

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

 

 

By:

/s/ Anne F. Ackerley

 

 

 

 

Anne F. Ackerley

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniYield Insured Fund, Inc.

 

 

 

 

Date: December 18, 2009

 

 

 

 

By:

/s/ Neal J. Andrews

 

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock MuniYield Insured Fund, Inc.

 

 

 

 

Date: December 18, 2009