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 811-06692
Name of Fund: BlackRock MuniYield California Insured Fund, Inc. (MCA)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock MuniYield California Insured Fund, Inc., 55 East 52nd Street, New York, NY 10055.
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 07/31/2010
Date of reporting period: 10/31/2009
Item 1 Schedule of Investments
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
||
California - 112.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate - 0.5% |
|
City of Chula Vista
California, RB, San Diego Gas, Series A, |
|
$ |
2,435 |
|
$ |
2,626,367 |
|
|
|
|
|
|
|
|
|
|
|
County/City/Special |
|
Arcadia Unified School
District California, GO, Election of |
|
|
9,000 |
|
|
9,135,990 |
|
|
|
Banning Unified School
District, California, GO, Election of |
|
|
4,300 |
|
|
4,378,174 |
|
|
|
Bay Area Government
Association, RB, Tax Allocation, California |
|
|
255 |
|
|
256,351 |
|
|
|
Brentwood Infrastructure
Financing Authority, California, Special |
|
|
3,980 |
|
|
4,017,293 |
|
|
|
Central Unified School
District, GO, Election of 2008, Series A (AGC), |
|
|
2,000 |
|
|
2,157,980 |
|
|
|
Chabot-Las Positas
Community College District, California, GO, CAB, |
|
|
6,705 |
|
|
2,501,032 |
|
|
|
Chino Basin Desalter
Authority, Refunding RB, Series A (AGC), 5.00%, |
|
|
1,170 |
|
|
1,177,254 |
|
|
|
Chino Valley Unified
School District COP, GO, Election of 2002, |
|
|
3,000 |
|
|
3,027,900 |
|
|
|
Chula Vista Elementary
School District, California, COP (MBIA), |
|
|
3,910 |
|
|
3,707,071 |
|
|
|
City of Corona California,
COP, Clearwater Cogeneration Project |
|
|
6,000 |
|
|
5,603,700 |
|
|
|
City of Riverside California, COP (AMBAC), 5.00%, 9/01/28 |
|
|
3,000 |
|
|
2,978,100 |
|
|
|
City of San Jose
California, GO, Libraries, Parks, Public Safety |
|
|
7,910 |
|
|
8,131,638 |
|
|
|
County of Kern California,
COP, Capital Improvement |
|
|
2,000 |
|
|
2,193,100 |
|
|
|
Desert, California,
Community College District, GO, Series C, 5.00%, |
|
|
10,000 |
|
|
10,166,300 |
|
|
|
Fontana Unified School
District, California, GO, Series A (FSA), |
|
|
3,000 |
|
|
3,069,330 |
|
|
|
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) |
ARB |
Airport Revenue Bond |
CAB |
Capital Appreciation Bonds |
COP |
Certificates of Participation |
FGIC |
Financial Guaranty Insurance Co. |
FSA |
Financial Security Assurance Inc. |
GNMA |
Government National Mortgage Association |
GO |
General Obligation Bonds |
MBIA |
Municipal Bond Investors Assurance (National Public Finance Guaranty Corp.) |
RB |
Revenue Bonds |
TAN |
Tax Anticipation Notes |
1
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
||
|
|
Fremont Unified School
District, Alameda County California, |
|
$ |
10,755 |
|
$ |
11,315,120 |
|
|
|
Fresno Joint Powers Financing
Authority, California, RB, Series |
|
|
3,295 |
|
|
3,400,078 |
|
|
|
Glendora Unified School
District, California, GO, Election of |
|
|
1,350 |
|
|
1,410,426 |
|
|
|
Glendora Unified School
District, California, GO, Election of |
|
|
2,700 |
|
|
2,826,198 |
|
|
|
Hemet Unified School
District, California, GO, Election of |
|
|
4,500 |
|
|
4,523,265 |
|
|
|
Imperial Community College
District, California, GO, Election |
|
|
3,090 |
|
|
3,091,298 |
|
|
|
Lodi Unified School
District, California, GO, Election of 2002 (FSA), |
|
|
10,260 |
|
|
10,332,436 |
|
|
|
Los Angeles Community
College District, California, GO, |
|
|
2,475 |
|
|
2,571,500 |
|
|
|
Los Angeles Community
College District California, GO, |
|
|
20,000 |
|
|
20,489,200 |
|
|
|
Los Angeles Community
Redevelopment Agency, California, |
|
|
10,000 |
|
|
10,097,900 |
|
|
|
Los Angeles County
Metropolitan Transportation Authority, RB, |
|
|
5,240 |
|
|
5,462,648 |
|
|
|
Los Angeles County
Metropolitan Transportation Authority, RB, |
|
|
6,500 |
|
|
6,628,050 |
|
|
|
Los Angeles County Public
Works Financing Authority, Refunding RB, |
|
|
4,190 |
|
|
4,035,138 |
|
|
|
Los Angeles Unified School
District, California, GO, Election of |
|
|
10,000 |
|
|
10,152,000 |
|
|
|
Los Angeles Unified School
District, California, GO, Election of |
|
|
5,000 |
|
|
5,101,900 |
|
|
|
Merced Community College
District, California, GO, School Facilities |
|
|
6,865 |
|
|
6,748,295 |
|
|
|
Murrieta Valley Unified
School District Public Financing |
|
|
8,000 |
|
|
8,329,120 |
|
|
|
Natomas Unified School
District, California, GO, Election of |
|
|
6,015 |
|
|
6,035,391 |
|
|
|
Orange County Water District, COP, Refunding, 5.25%, 8/15/34 |
|
|
9,045 |
|
|
9,452,839 |
|
|
|
Orchard School District,
California, GO, Election of 2001, Series A |
|
|
9,490 |
|
|
9,369,857 |
|
|
|
Oxnard Union High School
District, California, GO, Refunding, |
|
|
9,645 |
|
|
10,374,741 |
|
|
|
Peralta Community College
District, California, GO, Peralta |
|
|
6,195 |
|
|
6,298,023 |
|
|
|
Pittsburg Unified School
District, GO, Election of 2006, Series B |
|
|
2,000 |
|
|
2,113,580 |
|
2
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
||
|
|
Pittsburg Unified School
District, GO, Election of 2006, Series B |
|
$ |
4,500 |
|
$ |
4,788,900 |
|
|
|
Redlands Unified School
District, California, GO, Election of 2008 |
|
|
5,000 |
|
|
5,190,050 |
|
|
|
Riverside Unified School
District, California, GO, Election, |
|
|
6,000 |
|
|
6,220,260 |
|
|
|
Riverside Unified School
District, California, GO, Series C |
|
|
5,010 |
|
|
5,037,856 |
|
|
|
Sacramento City Financing
Authority, California, RB, Capital |
|
|
3,000 |
|
|
2,862,930 |
|
|
|
Sacramento City Financing
Authority, California, TAN, CAB, |
|
|
6,590 |
|
|
1,304,688 |
|
|
|
Saddleback Valley Unified
School District, California, GO |
|
|
2,565 |
|
|
2,629,074 |
|
|
|
San Bernardino City
Unified School District, California, GO, |
|
|
5,000 |
|
|
5,069,250 |
|
|
|
San Bernardino Community
College District, California, GO, |
|
|
8,000 |
|
|
8,206,720 |
|
|
|
San Francisco Bay Area Transit
Financing Authority, Refunding |
|
|
10,500 |
|
|
10,628,415 |
|
|
|
San Jose Financing
Authority, RB, Civic Center Project, Series B |
|
|
11,400 |
|
|
11,498,496 |
|
|
|
San Jose Redevelopment
Agency, California, TAN, Housing Set, |
|
|
7,300 |
|
|
7,302,920 |
|
|
|
San Juan Unified School
District, California, GO, Election of 2002 |
|
|
4,250 |
|
|
4,259,775 |
|
|
|
San Mateo County
Transportation District, California, |
|
|
4,350 |
|
|
4,506,165 |
|
|
|
Santa Rosa High School
District, California, GO, Election of 2002 |
|
|
2,500 |
|
|
2,505,750 |
|
|
|
Snowline Joint Unified
School District, COP, Refinancing |
|
|
5,600 |
|
|
6,118,448 |
|
|
|
South Tahoe Joint Powers
Financing Authority, Refunding RB, South |
|
|
1,645 |
|
|
1,656,334 |
|
|
|
Ventura County Community
College District, GO, Series A |
|
|
3,395 |
|
|
3,524,791 |
|
|
|
Vista Unified School
District, California, GO, Series B (MBIA), |
|
|
2,550 |
|
|
2,555,865 |
|
|
|
West Contra Costa Unified
School District, California, GO, |
|
|
6,690 |
|
|
6,662,437 |
|
|
|
Westminster Redevelopment
Agency, California, TAN, Sub- |
|
|
4,300 |
|
|
4,903,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
330,092,716 |
|
|
|
|
|
|
|
|
|
|
|
3
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
||
Education - 4.0% |
|
California Educational
Facilities Authority, RB, Student Loan, |
|
$ |
6,370 |
|
$ |
6,372,484 |
|
|
|
County of San Diego California, COP (MBIA), 5.75%, 7/01/31 |
|
|
5,200 |
|
|
5,277,740 |
|
|
|
University of California,
RB, Limited Project, Series D (FSA), |
|
|
8,000 |
|
|
8,009,760 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,659,984 |
|
|
|
|
|
|
|
|
|
|
|
Health - 3.6% |
|
California Health
Facilities Financing Authority, California, RB, |
|
|
2,130 |
|
|
2,238,204 |
|
|
|
California Health
Facilities Financing Authority, California, RB, |
|
|
5,500 |
|
|
5,749,755 |
|
|
|
California Statewide
Communities Development Authority, RB, |
|
|
5,850 |
|
|
5,679,882 |
|
|
|
California Statewide
Communities Development Authority, RB, |
|
|
3,685 |
|
|
3,819,244 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,487,085 |
|
|
|
|
|
|
|
|
|
|
|
Housing - 0.1% |
|
California Rural Home
Mortgage Finance Authority, California, RB, |
|
|
200 |
|
|
211,566 |
|
|
|
California Rural Home
Mortgage Finance Authority, California, RB, |
|
|
90 |
|
|
90,954 |
|
|
|
San Bernardino County
Housing Authority, California, RB, |
|
|
155 |
|
|
157,066 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
459,586 |
|
|
|
|
|
|
|
|
|
|
|
State - 3.2% |
|
California State Public
Works Board, RB, Department Education, |
|
|
3,500 |
|
|
3,818,955 |
|
|
|
State of California, GO (MBIA), 6.25%, 10/01/19 |
|
|
860 |
|
|
867,413 |
|
|
|
State of California, GO, Various Purpose, 6.50%, 4/01/33 |
|
|
9,875 |
|
|
10,913,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,600,317 |
|
|
|
|
|
|
|
|
|
|
|
Transportation - 12.2% |
|
City of San Jose California, RB, Series D (MBIA), 5.00%, 3/01/28 |
|
|
4,075 |
|
|
3,998,023 |
|
|
|
County of Orange California, RB, Series B, 5.75%, 7/01/34 |
|
|
5,000 |
|
|
5,379,400 |
|
|
|
Port of Oakland, RB, Series K, AMT (MBIA), 5.88%, 5/01/10 (b) |
|
|
20 |
|
|
20,477 |
|
|
|
Port of Oakland, RB, Series K, AMT (MBIA), 5.88%, 11/01/17 |
|
|
2,725 |
|
|
2,763,259 |
|
|
|
Port of Oakland, RB, Series K, AMT (MBIA), 5.75%, 11/01/29 |
|
|
7,445 |
|
|
7,451,924 |
|
|
|
Port of Oakland, RB, Series L, AMT (MBIA), 5.38%, 11/01/27 |
|
|
19,040 |
|
|
18,684,904 |
|
|
|
Sacramento County, ARB,
California Airport Systems Revenue, |
|
|
4,880 |
|
|
5,224,918 |
|
|
|
San Diego Port District,
RB, Series A, AMT (MBIA), 5.25%, |
|
|
5,400 |
|
|
5,456,268 |
|
|
|
San Francisco City &
County Airports Commission, RB, Special |
|
|
1,000 |
|
|
1,001,910 |
|
|
|
San Francisco City &
County Airports Commission, RB, Special |
|
|
985 |
|
|
986,221 |
|
4
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
||
|
|
San Francisco City &
County Airports Commission, Refunding RB, |
|
$ |
5,000 |
|
$ |
5,218,450 |
|
|
|
San Francisco City &
County Airports Commission, Refunding RB, |
|
|
3,500 |
|
|
3,628,485 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
59,814,239 |
|
|
|
|
|
|
|
|
|
|
|
Utilities - 21.0% |
|
City of Glendale California, RB (MBIA), 5.00%, 2/01/32 |
|
|
4,390 |
|
|
4,286,001 |
|
|
|
City of Napa California, RB (AMBAC), 5.00%, 5/01/35 |
|
|
9,070 |
|
|
9,234,620 |
|
|
|
City of Oakland California, RB, Series A (FSA), 5.00%, 6/15/29 |
|
|
4,270 |
|
|
4,297,755 |
|
|
|
City of Santa Clara
California, RB, Sub-Series A (MBIA), 5.00%, |
|
|
5,500 |
|
|
5,506,930 |
|
|
|
Contra Costa Water District, RB, Series L (FSA), 5.00%, 10/01/32 |
|
|
4,135 |
|
|
4,187,432 |
|
|
|
Contra Costa Water
District, Refunding RB, Series O (AMBAC), |
|
|
1,735 |
|
|
1,833,010 |
|
|
|
East Bay Municipal Utility
District, RB, Sub-Series A (MBIA), |
|
|
15,000 |
|
|
15,418,500 |
|
|
|
East Bay Municipal Utility
District, Refunding RB, Series A |
|
|
6,500 |
|
|
6,723,535 |
|
|
|
East Bay Municipal Utility
District, Refunding RB, Sub-Series A |
|
|
4,000 |
|
|
4,111,640 |
|
|
|
East Bay Municipal Utility
District, Refunding RB, Sub-Series A |
|
|
7,985 |
|
|
8,166,739 |
|
|
|
El Centro Financing
Authority, California, RB, Series A (FSA), |
|
|
1,100 |
|
|
1,106,281 |
|
|
|
Los Angeles Department of
Water & Power, RB, Power System, |
|
|
5,000 |
|
|
5,085,650 |
|
|
|
Los Angeles Department of
Water & Power, RB, System, |
|
|
7,500 |
|
|
7,622,775 |
|
|
|
Metropolitan Water
District of Southern California, RB, |
|
|
7,175 |
|
|
7,286,858 |
|
|
|
Oxnard Financing
Authority, RB, Redwood Trunk Sewer & |
|
|
13,000 |
|
|
12,999,350 |
|
|
|
Turlock Public Financing
Authority, California, RB, Series A |
|
|
3,000 |
|
|
3,019,770 |
|
|
|
Vallecitos Water District,
California, COP, Series A (FSA), |
|
|
2,000 |
|
|
2,052,380 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
102,939,226 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds - 112.1% |
|
|
|
|
|
548,679,520 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal
Bonds Transferred to |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California - 38.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
County/City/Special |
|
Fremont Unified School
District Alameda County, California, GO, |
|
|
5,997 |
|
|
6,153,300 |
|
|
|
Los Angeles Community
College District, California, GO, |
|
|
12,000 |
|
|
12,317,040 |
|
5
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal
Bonds Transferred to |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
||
|
|
Los Angeles Community
College District, California, GO, |
|
$ |
7,497 |
|
$ |
7,695,613 |
|
|
|
Los Angeles Community
College District, California, GO, |
|
|
9,596 |
|
|
10,842,974 |
|
|
|
Los Angeles Unified School
District, California, GO, Series I, |
|
|
5,000 |
|
|
5,057,000 |
|
|
|
Poway Unified School
District, GO, Election of 2002, Improvement |
|
|
10,000 |
|
|
10,113,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
52,179,427 |
|
|
|
|
|
|
|
|
|
|
|
Education - 5.1% |
|
California State
University, RB, Systemwide, Series A (FSA), |
|
|
4,860 |
|
|
4,813,733 |
|
|
|
University of California, RB, Series L, 5.00%, 5/15/40 |
|
|
7,398 |
|
|
7,509,346 |
|
|
|
University of California, RB, Series O, 5.75%, 5/15/34 |
|
|
11,190 |
|
|
12,374,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24,697,988 |
|
|
|
|
|
|
|
|
|
|
|
Transportation - 7.2% |
|
City of Long Beach, California, RB, Series A, AMT, 5.38%, 5/15/24 |
|
|
15,150 |
|
|
15,337,708 |
|
|
|
San Francisco Bay Area
Transit Financing Authority, Refunding RB, |
|
|
19,630 |
|
|
20,095,427 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35,433,135 |
|
|
|
|
|
|
|
|
|
|
|
Utilities - 15.5% |
|
Anaheim Public Financing
Authority, California, RB, Electric System |
|
|
3,568 |
|
|
3,603,695 |
|
|
|
Los Angeles Department of
Water & Power, RB, Power System, |
|
|
5,007 |
|
|
5,148,977 |
|
|
|
Los Angeles Department of
Water & Power, Refunding RB, Power |
|
|
16,000 |
|
|
16,332,000 |
|
|
|
Metropolitan Water
District of Southern California, RB, Series A, |
|
|
15,000 |
|
|
15,373,350 |
|
|
|
Rancho Water District
Financing Authority, California, Refunding |
|
|
9,277 |
|
|
9,440,637 |
|
|
|
San Diego County Water
Authority, COP, Refunding, |
|
|
8,510 |
|
|
8,527,531 |
|
|
|
San Diego County Water
Authority, COP, Series A (FSA), |
|
|
7,350 |
|
|
7,427,396 |
|
|
|
San Diego County Water
Authority, COP, Series A (FSA), |
|
|
10,000 |
|
|
10,066,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,920,486 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds Transferred to |
|
|
|
|
|
188,231,036 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Long-Term Investments |
|
|
|
|
|
736,910,556 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CMA California Municipal Money Fund, 0.04% (d)(e) |
|
|
2,742,880 |
|
|
2,742,880 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Short-Term Securities |
|
|
|
|
|
2,742,880 |
|
|
|
|
|
|
|
|
|
|
|
6
|
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
|
|
Schedule of Investments October 31, 2009 (Unaudited) |
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Investments (Cost - $736,225,806*) - 151.2% |
|
|
|
|
$ |
739,653,436 |
|
|
|
Other Assets Less Liabilities - 2.9% |
|
|
|
|
|
14,397,781 |
|
|
|
Liability for Trust Certificates, Including Interest |
|
|
|
|
|
(98,390,642 |
) |
|
|
Preferred Shares, at Redemption Value - (34.0)% |
|
|
|
|
|
(166,551,511 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets Applicable to Common Shares - 100.0% |
|
|
|
|
$ |
489,109,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
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 |
|
$ |
637,813,712 |
|
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
15,449,168 |
|
|
|
Gross unrealized depreciation |
|
|
(11,884,913 |
) |
|
|
|
|
|
|
|
|
|
Net unrealized appreciation |
|
$ |
3,564,255 |
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Represents a zero-coupon bond. Rate shown reflects the current yield as of report date. |
|
|
|
|
(b) |
US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. |
|
|
|
|
(c) |
Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction. |
|
|
|
|
(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 |
|
Income |
|
||
|
|
|
|
|
|
|
|
||
|
|
CMA California Municipal Money Fund |
|
$ |
(19,199,064 |
) |
$ |
1,182 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(e) |
Represents the current yield as of report date. |
|
|
|
|
|
|
|
Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows: |
||
|
|
|
|
|
|
|
|
|
Level 1 - price quotations in active markets/exchanges for identical assets and liabilities |
|
|
|
|
|
|
|
|
|
Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
|
|
|
|
|
|
|
|
|
Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Funds 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 Funds policy regarding valuation of investments and other significant accounting policies, please refer to the Funds most recent financial statements as contained in its annual report. |
7
|
BlackRock MuniYield California Insured Fund, Inc. (MCA) |
|
Schedule of Investments October 31, 2009 (Unaudited) |
|
|
|
|
The following tables summarize the inputs used as of October 31, 2009 in determining the fair valuation of the Funds investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Investments in |
|
|
|
|
|
|
|
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
|
Level 1 - Short-Term Securities |
|
$ |
2,742,880 |
|
|
Level 2 - Long-Term Investments1 |
|
|
736,910,556 |
|
|
Level 3 |
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
739,653,436 |
|
|
|
|
|
|
|
|
|
|
|
1 |
See above Schedule of Investments for values in each sector. |
8
|
|
Item 2 Controls and Procedures |
|
|
|
2(a) |
The registrants principal executive and principal financial officers or persons performing similar functions have concluded that the registrants 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 registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants 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 California Insured Fund, Inc. |
|
|
|
|
|
By: |
/s/ Anne F. Ackerley |
|
|
|
|
|
Anne F. Ackerley |
|
|
Chief Executive Officer of |
|
|
BlackRock MuniYield California 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 California Insured Fund, Inc. |
|
|
|
|
Date: December 18, 2009 |
|
|
|
|
|
By: |
/s/ Neal J. Andrews |
|
|
|
|
|
Neal J. Andrews |
|
|
Chief Financial Officer (principal financial officer) of |
|
|
BlackRock MuniYield California Insured Fund, Inc. |
|
|
|
|
Date: December 18, 2009 |