BLACKROCK MUNIENHANCED FUND, INC.
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: 811-05739
Name of Fund: BlackRock MuniEnhanced Fund, Inc. (MEN)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniEnhanced 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: 04/30/2017
Date of reporting period: 07/31/2016
Item 1 – Schedule of Investments
|
|
|
| Schedule of Investments July 31, 2016 (Unaudited) |
|
BlackRock MuniEnhanced Fund, Inc.
(MEN)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Alabama — 1.3% |
|
|
|
|
|
|
|
|
| County of Jefferson Alabama, RB, Limited Obligation School, Series A: |
|
|
|
|
|
|
|
|
| 5.50%, 1/01/22 |
|
$ |
2,750 |
|
|
$ |
2,766,033 |
|
| 4.75%, 1/01/25 |
|
|
2,200 |
|
|
|
2,212,826 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
4,978,859 |
|
| Alaska — 0.7% |
|
| Alaska Industrial Development & Export Authority, RB, Providence Health Services, Series A, 5.50%, 10/01/41 |
|
|
990 |
|
|
|
1,155,716 |
|
| Borough of Matanuska-Susitna Alaska, RB, Goose Creek Correctional Center (AGC): |
|
|
|
|
|
|
|
|
| 6.00%, 9/01/19 (a) |
|
|
765 |
|
|
|
888,494 |
|
| 6.00%, 9/01/28 |
|
|
435 |
|
|
|
505,222 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
2,549,432 |
|
| Arizona — 1.4% |
|
| Salt River Project Agricultural Improvement & Power District, RB, Series A, 5.00%, 1/01/38 |
|
|
1,500 |
|
|
|
1,589,340 |
|
| State of Arizona, COP, Department of Administration, Series A (AGM): |
|
|
|
|
|
|
|
|
| 5.00%, 10/01/27 |
|
|
2,700 |
|
|
|
3,030,723 |
|
| 5.00%, 10/01/29 |
|
|
400 |
|
|
|
448,464 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
5,068,527 |
|
| California — 19.1% |
|
| Alameda Corridor Transportation Authority, Refunding RB, CAB, Subordinate Lien, Series A (AMBAC) (b): |
|
|
|
|
|
|
|
|
| 5.40%, 10/01/17 |
|
|
10,185 |
|
|
|
10,768,091 |
|
| 5.45%, 10/01/17 |
|
|
3,700 |
|
|
|
3,914,008 |
|
| Anaheim Public Financing Authority California, RB, Senior, Public Improvements Project, Series A (AGM),
6.00%, 9/01/24 |
|
|
5,000 |
|
|
|
6,310,600 |
|
| Cabrillo Community College District, GO, CAB, Election of 2004, Series B (NPFGC), 0.00%, 8/01/37 (c) |
|
|
2,400 |
|
|
|
900,912 |
|
| California Health Facilities Financing Authority, RB: |
|
|
|
|
|
|
|
|
| St. Joseph Health System, Series A, 5.75%, 7/01/39 |
|
|
550 |
|
|
|
625,389 |
|
| Sutter Health, Series B, 5.88%, 8/15/31 |
|
|
1,200 |
|
|
|
1,437,108 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| California Health Facilities Financing Authority, Refunding RB, St. Joseph Health System, Series A,
5.00%, 7/01/37 |
|
$ |
1,090 |
|
|
$ |
1,295,737 |
|
| California State University, Refunding RB, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 5/01/17 (a) |
|
|
850 |
|
|
|
879,002 |
|
| 5.00%, 11/01/37 |
|
|
1,150 |
|
|
|
1,187,248 |
|
| California Statewide Communities Development Authority, RB, Kaiser Permanente, Series A, 5.00%, 4/01/42 |
|
|
1,480 |
|
|
|
1,727,293 |
|
| City of Redding California, COP, Refunding, Series A (AGM), 5.00%, 6/01/30 |
|
|
1,420 |
|
|
|
1,521,629 |
|
| City of San Jose California, Refunding ARB, Series A-1, AMT, 5.75%, 3/01/34 |
|
|
850 |
|
|
|
1,006,434 |
|
| County of Orange California Sanitation District, COP, Series B (AGM), 5.00%, 2/01/17 (a) |
|
|
1,500 |
|
|
|
1,533,960 |
|
| County of San Joaquin California Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A,
6.00%, 3/01/36 |
|
|
2,175 |
|
|
|
2,653,195 |
|
| Los Angeles Community College District California, GO, Election of 2001, Series A (AGM),
5.00%, 8/01/17 (a) |
|
|
1,300 |
|
|
|
1,359,384 |
|
| Mount San Antonio Community College District, GO, Refunding, CAB, Election of 2008, Series A, 0.00%, 8/01/43
(b) |
|
|
2,500 |
|
|
|
2,196,100 |
|
| Poway Unified School District, GO, Refunding, CAB, School Facilities Improvement, Election of 2008, Series B, 0.00%, 8/01/36
(c) |
|
|
3,750 |
|
|
|
2,050,650 |
|
| Rio Hondo Community College District California, GO, CAB, Election of 2004, Series C, 0.00%, 8/01/38 (c) |
|
|
5,000 |
|
|
|
2,579,700 |
|
| San Diego California Unified School District, GO, CAB, Election of 2008 (c): |
|
|
|
|
|
|
|
|
| Series C, 0.00%, 7/01/38 |
|
|
1,600 |
|
|
|
797,760 |
|
| Series G, 0.00%, 7/01/34 |
|
|
650 |
|
|
|
310,278 |
|
| Series G, 0.00%, 7/01/35 |
|
|
690 |
|
|
|
309,741 |
|
| Series G, 0.00%, 7/01/36 |
|
|
1,035 |
|
|
|
436,936 |
|
| Series G, 0.00%, 7/01/37 |
|
|
690 |
|
|
|
274,234 |
|
| San Diego California Unified School District, GO, Refunding, Series R-1 (c): |
|
|
|
|
|
|
|
|
| 0.00%, 7/01/30 |
|
|
5,000 |
|
|
|
3,423,150 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
1 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| San Diego California Unified School District, GO, Refunding, Series R-1 (c) (continued): |
|
|
|
|
|
|
|
|
| 0.00%, 7/01/31 |
|
$ |
1,280 |
|
|
$ |
844,058 |
|
| San Diego Community College District California, GO, CAB, Election of 2006 (c): |
|
|
|
|
|
|
|
|
| 0.00%, 8/01/31 |
|
|
2,145 |
|
|
|
1,174,838 |
|
| 0.00%, 8/01/32 |
|
|
2,680 |
|
|
|
1,377,547 |
|
| San Marcos Unified School District, GO, Election of 2010, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 8/01/34 |
|
|
700 |
|
|
|
820,183 |
|
| 5.00%, 8/01/38 |
|
|
600 |
|
|
|
701,430 |
|
| San Mateo County Community College District, GO, CAB, Election of 2001, Series C (NPFGC),
0.00%, 9/01/30 (c) |
|
|
12,740 |
|
|
|
9,179,552 |
|
| Walnut Valley Unified School District, GO, CAB, Election of 2007, Series B, 0.00%, 8/01/36 (c) |
|
|
5,500 |
|
|
|
2,926,385 |
|
| West Basin Municipal Water District California, COP, Refunding, Series B (AGC), 5.00%, 8/01/30 |
|
|
5,035 |
|
|
|
5,426,522 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
71,949,054 |
|
| Colorado — 0.6% |
|
| Regional Transportation District, COP, Refunding, Series A, 5.38%,
6/01/31 |
|
|
2,000 |
|
|
|
2,295,480 |
|
| District of Columbia — 1.4% |
|
| District of Columbia Ballpark Revenue, RB, Series B-1, 5.00%, 2/01/31 |
|
|
5,360 |
|
|
|
5,371,363 |
|
| Florida — 14.7% |
|
| City of Tallahassee Florida Energy System Revenue, RB, (NPFGC): |
|
|
|
|
|
|
|
|
| 5.00%, 10/01/32 |
|
|
4,000 |
|
|
|
4,198,600 |
|
| 5.00%, 10/01/37 |
|
|
7,500 |
|
|
|
7,861,500 |
|
| County of Brevard Florida Health Facilities Authority, Refunding RB, Health First, Inc. Project, 5.00%, 4/01/39 |
|
|
1,600 |
|
|
|
1,881,296 |
|
| County of Broward Florida Water & Sewer Utility, Refunding RB, Series A, 5.25%, 10/01/18 (a) |
|
|
850 |
|
|
|
934,286 |
|
| County of Duval Florida School Board, COP, Master Lease Program (AGM), 5.00%, 7/01/17 (a) |
|
|
2,625 |
|
|
|
2,733,780 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Florida (continued) |
|
| County of Highlands Florida Health Facilities Authority, RB, Adventist Health System/Sunbelt, Series B,
6.00%, 11/15/37 |
|
$ |
1,450 |
|
|
$ |
1,671,661 |
|
| County of Hillsborough Florida Aviation Authority, RB, Series A, AMT (AGC), 5.38%, 10/01/33 |
|
|
4,050 |
|
|
|
4,395,222 |
|
| County of Lee Florida, Refunding ARB, Series A, AMT: |
|
|
|
|
|
|
|
|
| 5.63%, 10/01/26 |
|
|
960 |
|
|
|
1,128,662 |
|
| 5.38%, 10/01/32 |
|
|
3,160 |
|
|
|
3,668,507 |
|
| County of Miami-Dade Florida, GO, Building Better Communities Program, Series B-1, 5.75%, 7/01/18 (a) |
|
|
1,400 |
|
|
|
1,538,152 |
|
| County of Miami-Dade Florida, RB, Seaport: |
|
|
|
|
|
|
|
|
| Series A, 6.00%, 10/01/38 |
|
|
2,025 |
|
|
|
2,537,487 |
|
| Series B, AMT, 6.00%, 10/01/30 |
|
|
640 |
|
|
|
803,546 |
|
| Series B, AMT, 6.25%, 10/01/38 |
|
|
415 |
|
|
|
528,150 |
|
| Series B, AMT, 6.00%, 10/01/42 |
|
|
660 |
|
|
|
812,249 |
|
| County of Miami-Dade Florida Aviation, Refunding ARB, AMT, 5.00%, 10/01/34 |
|
|
190 |
|
|
|
223,372 |
|
| County of Miami-Dade Florida Educational Facilities Authority, RB, University Miami, Series A, 5.00%, 4/01/40 |
|
|
2,995 |
|
|
|
3,567,704 |
|
| County of Miami-Dade School Board Foundation, Inc., 5.00%, 5/01/18 (a) |
|
|
10,000 |
|
|
|
10,767,800 |
|
| County of Palm Beach Florida Solid Waste Authority, Refunding RB, 5.00%, 10/01/31 |
|
|
2,000 |
|
|
|
2,358,000 |
|
| County of Sarasota Florida Public Hospital District, RB, Sarasota Memorial Hospital Project, Series A,
5.63%, 7/01/39 |
|
|
275 |
|
|
|
306,391 |
|
| Florida Ports Financing Commission, Refunding RB, State Transportation Trust Fund, Series B, AMT: |
|
|
|
|
|
|
|
|
| 5.13%, 6/01/27 |
|
|
2,000 |
|
|
|
2,352,060 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 2 |
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Florida (continued) |
|
| Florida Ports Financing Commission, Refunding RB, State Transportation Trust Fund, Series B, AMT (continued): |
|
|
|
|
|
|
|
|
| 5.38%, 10/01/29 |
|
$ |
1,050 |
|
|
$ |
1,243,830 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
55,512,255 |
|
| Georgia — 3.4% |
|
| County of Burke Georgia Development Authority, Refunding RB, Oglethorpe Power-Vogtle Project, Series C,
5.70%, 1/01/43 |
|
|
1,150 |
|
|
|
1,222,818 |
|
| County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health System, Inc. Project, Series A,
5.50%, 8/15/54 |
|
|
500 |
|
|
|
619,930 |
|
| Municipal Electric Authority of Georgia, Refunding RB, Series EE (AMBAC), 7.00%, 1/01/25 |
|
|
7,475 |
|
|
|
10,535,564 |
|
| Private Colleges & Universities Authority, RB, Savannah College of Art & Design: |
|
|
|
|
|
|
|
|
| 5.00%, 4/01/33 |
|
|
140 |
|
|
|
164,079 |
|
| 5.00%, 4/01/44 |
|
|
380 |
|
|
|
438,763 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
12,981,154 |
|
| Illinois — 16.8% |
|
| City of Chicago Illinois, GARB, O’Hare International Airport, 3rd Lien, Series A, 5.75%, 1/01/39 |
|
|
5,110 |
|
|
|
5,990,351 |
|
| City of Chicago Illinois, GO, Refunding, Series A, Project, 5.25%, 1/01/33 |
|
|
1,185 |
|
|
|
1,229,153 |
|
| City of Chicago Illinois, GO, Series A, 5.25%, 1/01/35 |
|
|
400 |
|
|
|
411,572 |
|
| City of Chicago Illinois, RB, Motor Fuel Tax Project, Series A (AGC), 5.00%, 1/01/38 |
|
|
715 |
|
|
|
746,975 |
|
| City of Chicago Illinois, Refunding RB, Sales Tax Receipts, Series A, 5.00%, 1/01/41 |
|
|
2,220 |
|
|
|
2,360,548 |
|
| City of Chicago Illinois Transit Authority, RB: |
|
|
|
|
|
|
|
|
| 5.25%, 12/01/49 |
|
|
900 |
|
|
|
1,049,823 |
|
| Sales Tax Receipts, 5.25%, 12/01/36 |
|
|
595 |
|
|
|
663,050 |
|
| County of Cook Illinois Forest Preserve District, GO, Refunding, Limited Tax Project, Series B, 5.00%, 12/15/37 |
|
|
45 |
|
|
|
50,382 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| Illinois Finance Authority, RB, Carle Foundation, Series A: |
|
|
|
|
|
|
|
|
| 5.75%, 8/15/34 |
|
$ |
650 |
|
|
$ |
773,968 |
|
| 6.00%, 8/15/41 |
|
|
1,000 |
|
|
|
1,201,120 |
|
| Illinois Finance Authority, Refunding RB, Silver Cross Hospital and Medical Centers: |
|
|
|
|
|
|
|
|
| 4.13%, 8/15/37 |
|
|
700 |
|
|
|
748,790 |
|
| 5.00%, 8/15/44 |
|
|
350 |
|
|
|
404,184 |
|
| Illinois HDA, RB, Liberty Arms Senior Apartments, M/F Housing, Series D, AMT (AMBAC), 4.88%, 7/01/47 |
|
|
2,090 |
|
|
|
2,101,056 |
|
| Illinois Municipal Electric Agency, RB, Series A (NPFGC), 5.25%, 2/01/17 (a) |
|
|
1,000 |
|
|
|
1,024,000 |
|
| Illinois Sports Facilities Authority, RB, State Tax Supported (AMBAC), 5.50%, 6/15/30 (b) |
|
|
12,490 |
|
|
|
12,538,586 |
|
| Kane McHenry Cook & De Kalb Counties Unit School District No. 300, GO, Refunding, 5.25%, 1/01/33 |
|
|
9,145 |
|
|
|
10,861,059 |
|
| Metropolitan Pier & Exposition Authority, RB, CAB, McCormick Place Expansion Project, Series A (NPFGC) (c): |
|
|
|
|
|
|
|
|
| 0.00%, 12/15/26 |
|
|
5,000 |
|
|
|
3,579,050 |
|
| 0.00%, 12/15/33 |
|
|
9,950 |
|
|
|
5,181,661 |
|
| Metropolitan Pier & Exposition Authority, Refunding RB, CAB, McCormick Place Expansion Project, Series B (AGM), 0.00%, 6/15/44
(c) |
|
|
3,450 |
|
|
|
1,149,954 |
|
| Railsplitter Tobacco Settlement Authority, RB, 6.00%, 6/01/28 |
|
|
675 |
|
|
|
809,433 |
|
| Regional Transportation Authority, RB, Series A (AMBAC), 7.20%, 11/01/20 |
|
|
5,555 |
|
|
|
6,316,924 |
|
| State of Illinois, GO: |
|
|
|
|
|
|
|
|
| 5.25%, 2/01/33 |
|
|
830 |
|
|
|
921,674 |
|
| 5.50%, 7/01/33 |
|
|
820 |
|
|
|
922,164 |
|
| 5.25%, 2/01/34 |
|
|
830 |
|
|
|
918,793 |
|
| 5.50%, 7/01/38 |
|
|
445 |
|
|
|
495,806 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
3 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| University of Illinois, RB, Auxiliary Facilities System, Series A, 5.00%, 4/01/39 |
|
$ |
905 |
|
|
$ |
1,044,270 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
63,494,346 |
|
| Indiana — 1.0% |
|
| Indiana Finance Authority, RB, Series A: |
|
|
|
|
|
|
|
|
| CWA Authority Project, 1st Lien, 5.25%, 10/01/38 |
|
|
1,100 |
|
|
|
1,309,968 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 7/01/44 |
|
|
515 |
|
|
|
578,937 |
|
| Private Activity Bond, Ohio River Bridges, AMT, 5.00%, 7/01/40 |
|
|
890 |
|
|
|
1,009,420 |
|
| Indianapolis Local Public Improvement Bond Bank, Refunding RB, Waterworks Project, Series A (AGC), 5.25%, 1/01/29 |
|
|
600 |
|
|
|
664,380 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
3,562,705 |
|
| Iowa — 3.1% |
|
| Iowa Finance Authority, RB, Iowa Health Care Facilities, Series A (AGC), 5.63%, 8/15/19 (a) |
|
|
5,725 |
|
|
|
6,572,414 |
|
| Iowa Student Loan Liquidity Corp., RB, Senior Series A-2, AMT: |
|
|
|
|
|
|
|
|
| 5.60%, 12/01/26 |
|
|
2,270 |
|
|
|
2,453,552 |
|
| 5.70%, 12/01/27 |
|
|
1,025 |
|
|
|
1,101,086 |
|
| 5.80%, 12/01/29 |
|
|
695 |
|
|
|
745,471 |
|
| 5.85%, 12/01/30 |
|
|
730 |
|
|
|
783,604 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
11,656,127 |
|
| Louisiana — 1.2% |
|
| City of New Orleans Louisiana Aviation Board, RB, Series B, AMT, 5.00%, 1/01/40 |
|
|
2,795 |
|
|
|
3,248,880 |
|
| Louisiana Public Facilities Authority, Refunding RB, Christus Health, Series B (AGC), 6.50%, 7/01/30 |
|
|
1,250 |
|
|
|
1,404,475 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
4,653,355 |
|
| Maine — 0.3% |
|
| Maine Health & Higher Educational Facilities Authority, RB, Series A, 5.00%,
7/01/46 |
|
|
1,035 |
|
|
|
1,195,146 |
|
| Massachusetts — 1.5% |
|
| Massachusetts DFA, Refunding RB, Series A, 5.00%, 10/01/43 |
|
|
370 |
|
|
|
433,385 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Massachusetts (continued) |
|
| Massachusetts HFA, Refunding RB, Series C, AMT, 5.35%, 12/01/42 |
|
$ |
950 |
|
|
$ |
1,008,131 |
|
| Massachusetts School Building Authority, RB, Dedicated Sales Tax, Senior Series A, 5.00%, 5/15/43 |
|
|
1,280 |
|
|
|
1,523,686 |
|
| Massachusetts Water Resources Authority, Refunding RB, General, Series A (NPFGC), 5.00%, 8/01/34 |
|
|
2,530 |
|
|
|
2,638,916 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
5,604,118 |
|
| Michigan — 2.5% |
|
| City of Detroit Michigan Sewage Disposal System, Refunding RB, 2nd Lien, Series E (BHAC), 5.75%, 7/01/31 |
|
|
2,500 |
|
|
|
2,703,025 |
|
| City of Detroit Michigan Water Supply System, RB, 2nd Lien, Series B (AGM), 6.25%, 7/01/36 |
|
|
400 |
|
|
|
450,320 |
|
| City of Lansing Michigan, RB, Board of Water & Light Utilities System, Series A, 5.50%, 7/01/41 |
|
|
1,700 |
|
|
|
2,023,255 |
|
| Michigan Finance Authority, Refunding RB, Trinity Health Credit Group, 5.00%, 12/01/21 (a) |
|
|
20 |
|
|
|
24,234 |
|
| Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, Series D,
5.00%, 9/01/39 |
|
|
1,040 |
|
|
|
1,209,323 |
|
| State of Michigan Building Authority, Refunding RB, Facilities Program: |
|
|
|
|
|
|
|
|
| Series I-A, 5.38%, 10/15/36 |
|
|
145 |
|
|
|
169,537 |
|
| Series I-A, 5.38%, 10/15/41 |
|
|
700 |
|
|
|
818,454 |
|
| Series II-A (AGM), 5.25%, 10/15/36 |
|
|
900 |
|
|
|
1,050,048 |
|
| State of Michigan HDA, RB, S/F Housing, Series C, AMT, 5.50%, 12/01/28 |
|
|
580 |
|
|
|
624,648 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 4 |
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Michigan (continued) |
|
| Western Michigan University, Refunding RB, General, University and College Improvements (AGM), 5.00%, 11/15/39 |
|
$ |
380 |
|
|
$ |
446,017 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
9,518,861 |
|
| Minnesota — 0.7% |
|
| City of Minneapolis Minnesota, Refunding RB, Fairview Health Services, Series B (AGC): |
|
|
|
|
|
|
|
|
| 6.50%, 11/15/18 (a) |
|
|
385 |
|
|
|
436,370 |
|
| 6.50%, 11/15/38 |
|
|
2,115 |
|
|
|
2,366,939 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
2,803,309 |
|
| Nebraska — 1.7% |
|
| Central Plains Energy Project Nebraska, RB, Gas Project No. 3, 5.25%, 9/01/37 |
|
|
750 |
|
|
|
860,332 |
|
| Central Plains Nebraska Energy Project, RB, Gas Project No. 3, 5.00%, 9/01/32 |
|
|
5,000 |
|
|
|
5,707,900 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
6,568,232 |
|
| Nevada — 1.6% |
|
| City of Las Vegas Nevada, GO, Limited Tax, Performing Arts Center, 6.00%, 4/01/19 (a) |
|
|
850 |
|
|
|
969,782 |
|
| County of Clark Nevada, ARB, Las Vegas-McCarran International Airport, Series A: |
|
|
|
|
|
|
|
|
| 5.25%, 7/01/42 |
|
|
500 |
|
|
|
561,780 |
|
| (AGM), 5.25%, 7/01/39 |
|
|
3,800 |
|
|
|
4,272,226 |
|
| County of Clark Nevada, RB, Southwest Gas Corp. Project, Series A, AMT (NPFGC), 4.75%, 9/01/36 |
|
|
75 |
|
|
|
75,080 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
5,878,868 |
|
| New Jersey — 8.9% |
|
| New Jersey EDA, RB: |
|
|
|
|
|
|
|
|
| Goethals Bridge Replacement Project, Private Activity Bond, AMT, 5.38%, 1/01/43 |
|
|
895 |
|
|
|
1,041,297 |
|
| Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 7/01/31 |
|
|
3,125 |
|
|
|
3,159,187 |
|
| Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 7/01/33 |
|
|
7,800 |
|
|
|
7,885,332 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| New Jersey (continued) |
|
| New Jersey EDA, RB (continued): |
|
|
|
|
|
|
|
|
| Private Activity Bond, The Goethals Bridge Replacement Project, AMT, 5.13%, 1/01/34 |
|
$ |
685 |
|
|
$ |
798,039 |
|
| School Facilities Construction (AGC), 6.00%, 12/15/18 (a) |
|
|
1,975 |
|
|
|
2,223,514 |
|
| School Facilities Construction (AGC), 6.00%, 12/15/34 |
|
|
25 |
|
|
|
27,983 |
|
| Series WW, 5.25%, 6/15/33 |
|
|
155 |
|
|
|
176,554 |
|
| Series WW, 5.00%, 6/15/34 |
|
|
205 |
|
|
|
228,946 |
|
| Series WW, 5.00%, 6/15/36 |
|
|
925 |
|
|
|
1,030,062 |
|
| Series WW, 5.25%, 6/15/40 |
|
|
265 |
|
|
|
300,764 |
|
| New Jersey Higher Education Student Assistance Authority, Refunding RB, Series 1, AMT: |
|
|
|
|
|
|
|
|
| 5.50%, 12/01/26 |
|
|
480 |
|
|
|
546,216 |
|
| 5.75%, 12/01/27 |
|
|
3,115 |
|
|
|
3,567,049 |
|
| New Jersey Housing & Mortgage Finance Agency, Refunding RB, M/F Housing, Series 2, AMT, 4.35%, 11/01/33 |
|
|
970 |
|
|
|
1,037,861 |
|
| New Jersey Transportation Trust Fund Authority, RB: |
|
|
|
|
|
|
|
|
| Transportation Program, Series AA, 5.25%, 6/15/33 |
|
|
1,460 |
|
|
|
1,635,755 |
|
| Transportation Program, Series AA, 5.00%, 6/15/38 |
|
|
1,760 |
|
|
|
1,953,125 |
|
| Transportation System, Series A, 5.50%, 6/15/41 |
|
|
2,000 |
|
|
|
2,230,040 |
|
| Transportation System, Series AA, 5.50%, 6/15/39 |
|
|
1,150 |
|
|
|
1,301,466 |
|
| Transportation System, Series B, 5.50%, 6/15/31 |
|
|
1,000 |
|
|
|
1,133,980 |
|
| Transportation System, Series B, 5.00%, 6/15/42 |
|
|
2,500 |
|
|
|
2,701,650 |
|
| Transportation System, Series D, 5.00%, 6/15/32 |
|
|
625 |
|
|
|
704,631 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
33,683,451 |
|
| New York — 6.5% |
|
| City of New York New York Municipal Water Finance Authority, Refunding RB, Second General Resolution, Fiscal 2012, Series BB,
5.25%, 6/15/44 |
|
|
1,425 |
|
|
|
1,712,465 |
|
| City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-4, 5.50%, 1/15/33 |
|
|
1,600 |
|
|
|
1,791,520 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
5 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| New York (continued) |
|
| City of New York New York Transitional Finance Authority, RB, Fiscal 2009, Series S-4, 5.50%, 1/15/34 |
|
$ |
2,750 |
|
|
$ |
3,079,175 |
|
| City of New York New York Transitional Finance Authority, Refunding RB, Future Tax Secured, Series B,
5.00%, 11/01/32 |
|
|
1,480 |
|
|
|
1,804,964 |
|
| County of Erie New York Industrial Development Agency, RB, City School District of Buffalo, Series A (AGM), 5.75%, 5/01/17
(a) |
|
|
1,500 |
|
|
|
1,559,070 |
|
| Hudson Yards Infrastructure Corp., RB, Series A, 5.75%, 2/15/47 |
|
|
700 |
|
|
|
827,680 |
|
| Metropolitan Transportation Authority, RB, Series C: |
|
|
|
|
|
|
|
|
| 6.50%, 11/15/18 (a) |
|
|
2,985 |
|
|
|
3,381,109 |
|
| 6.50%, 11/15/28 |
|
|
1,015 |
|
|
|
1,149,843 |
|
| Metropolitan Transportation Authority, Refunding RB, Series C-1, 5.25%, 11/15/56 (d) |
|
|
1,500 |
|
|
|
1,851,814 |
|
| New York Transportation Development Corp., RB, Laguardia Airport Terminal B Redevelopment Project, Series A (AMT), 5.00%,
7/01/46 |
|
|
2,915 |
|
|
|
3,337,908 |
|
| State of New York Dormitory Authority, RB, Series B, 5.75%, 3/15/36 |
|
|
1,200 |
|
|
|
1,359,924 |
|
| State of New York HFA, RB, Affordable Housing, M/F, Series B, AMT, 5.30%, 11/01/37 |
|
|
2,500 |
|
|
|
2,561,175 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
24,416,647 |
|
| Ohio — 1.5% |
|
| County of Lucas Ohio, Refunding RB, Promedica Healthcare, Series A, 6.50%, 11/15/37 |
|
|
530 |
|
|
|
664,069 |
|
| State of Ohio Turnpike Commission, RB, CAB, Junior Lien, Infrastructure Projects, Series A-2,
0.00%, 2/15/37 (c) |
|
|
10,000 |
|
|
|
5,053,300 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
5,717,369 |
|
| Pennsylvania — 6.2% |
|
| Commonwealth Financing Authority, RB, Series B, 5.00%, 6/01/42 |
|
|
1,600 |
|
|
|
1,838,496 |
|
| County of Westmoreland Municipal Authority, RB, (BAM), 5.00%, 8/15/42 (e) |
|
|
900 |
|
|
|
1,064,412 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Pennsylvania (continued) |
|
| Pennsylvania Economic Development Financing
Authority, RB, Pennsylvania Rapid Bridge Finco LP, AMT: |
|
|
|
|
|
|
|
|
| 5.00%, 12/31/34 |
|
$ |
7,290 |
|
|
$ |
8,615,103 |
|
| 5.00%, 12/31/38 |
|
|
1,305 |
|
|
|
1,538,504 |
|
| Pennsylvania Higher Educational Facilities Authority, Refunding RB, Thomas Jefferson University, Series A, 5.25%,
9/01/50 |
|
|
2,480 |
|
|
|
2,966,031 |
|
| Pennsylvania Turnpike Commission, RB: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 12/01/38 |
|
|
620 |
|
|
|
747,391 |
|
| Series A-1, 5.00%, 12/01/46 |
|
|
3,320 |
|
|
|
3,953,655 |
|
| Series C, 5.50%, 12/01/33 |
|
|
555 |
|
|
|
688,672 |
|
| Subordinate, Special Motor License Fund, 6.00%, 12/01/36 |
|
|
575 |
|
|
|
680,605 |
|
| Pennsylvania Turnpike Commission, Refunding RB, Series A-1, 5.00%, 12/01/40 |
|
|
765 |
|
|
|
909,126 |
|
| Philadelphia School District, GO, Series E: |
|
|
|
|
|
|
|
|
| 6.00%, 9/01/18 (a) |
|
|
5 |
|
|
|
5,557 |
|
| 6.00%, 9/01/38 |
|
|
395 |
|
|
|
419,798 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
23,427,350 |
|
| Rhode Island — 1.1% |
|
| Rhode Island Commerce Corp., RB, Airport Corporation, 5.00%, 7/01/41 |
|
|
215 |
|
|
|
255,725 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Series B: |
|
|
|
|
|
|
|
|
| 4.50%, 6/01/45 |
|
|
1,055 |
|
|
|
1,127,943 |
|
| 5.00%, 6/01/50 |
|
|
2,630 |
|
|
|
2,817,992 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
4,201,660 |
|
| South Carolina — 6.0% |
|
| South Carolina Jobs EDA, Refunding RB, Palmetto Health, Series A (AGM), 6.50%, 8/01/39 |
|
|
115 |
|
|
|
141,816 |
|
| South Carolina Ports Authority, RB, AMT, 5.25%, 7/01/50 |
|
|
2,330 |
|
|
|
2,731,692 |
|
| South Carolina Transportation Infrastructure Bank, RB, Series A, 5.25%, 10/01/40 |
|
|
3,000 |
|
|
|
3,363,300 |
|
| State of South Carolina Public Service Authority, RB, Santee Cooper: |
|
|
|
|
|
|
|
|
| Series A, 5.50%, 12/01/54 |
|
|
8,725 |
|
|
|
10,506,296 |
|
| Series E, 5.50%, 12/01/53 |
|
|
745 |
|
|
|
886,341 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 6 |
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| South Carolina (continued) |
|
| State of South Carolina Public Service Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Santee Cooper, Series B, 5.00%, 12/01/38 |
|
$ |
2,080 |
|
|
$ |
2,451,051 |
|
| Series A, 5.50%, 1/01/19 (a)(f) |
|
|
80 |
|
|
|
89,371 |
|
| Series A, 5.50%, 1/01/19 (a) |
|
|
920 |
|
|
|
1,027,769 |
|
| Series E, 5.25%, 12/01/55 |
|
|
1,050 |
|
|
|
1,269,671 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
22,467,307 |
|
| Tennessee — 1.5% |
|
| Metropolitan Government of Nashville & Davidson County Health & Educational
Facilities Board, Refunding RB, Vanderbilt University, Series B, 5.50%, 10/01/19 (a) |
|
|
5,000 |
|
|
|
5,749,000 |
|
| Texas — 13.4% |
|
| Central Texas Turnpike System, Refunding RB, CAB, Series B, 0.00%, 8/15/37 (c) |
|
|
890 |
|
|
|
399,103 |
|
| City of Houston Texas Combined Utility System Revenue, Refunding RB, Combined 1st Lien, Series A (AGC): |
|
|
|
|
|
|
|
|
| 5.38%, 5/15/19 (a) |
|
|
1,280 |
|
|
|
1,446,067 |
|
| 6.00%, 5/15/19 (a) |
|
|
1,990 |
|
|
|
2,282,550 |
|
| 6.00%, 11/15/35 |
|
|
110 |
|
|
|
126,491 |
|
| 5.38%, 11/15/38 |
|
|
70 |
|
|
|
78,205 |
|
| City of San Antonio Texas Public Service Board, RB, Junior Lien, 5.00%, 2/01/38 |
|
|
575 |
|
|
|
682,824 |
|
| County of Midland Texas Fresh Water Supply District No. 1, RB, CAB, City of Midland Project, Series A, 0.00%, 9/15/36
(c) |
|
|
2,130 |
|
|
|
996,542 |
|
| County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Cook Children’s Medical Center, 5.25%,
12/01/39 |
|
|
750 |
|
|
|
899,160 |
|
| Dallas-Fort Worth International Airport, ARB, Joint Improvement, AMT: |
|
|
|
|
|
|
|
|
| Series D, 5.00%, 11/01/38 |
|
|
1,975 |
|
|
|
2,246,918 |
|
| Series D, 5.00%, 11/01/42 |
|
|
1,500 |
|
|
|
1,703,340 |
|
| Series H, 5.00%, 11/01/32 |
|
|
3,000 |
|
|
|
3,451,620 |
|
| Dallas-Fort Worth International Airport, Refunding ARB, Series F, 5.25%, 11/01/33 |
|
|
975 |
|
|
|
1,186,516 |
|
| Leander ISD, GO, Refunding, CAB, Series D, 0.00%, 8/15/38 (c) |
|
|
3,420 |
|
|
|
1,464,136 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| Mansfield Texas ISD, GO, School Building (PSF-GTD), 5.00%, 2/15/17 (a) |
|
$ |
1,725 |
|
|
$ |
1,766,503 |
|
| North Texas Tollway Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| 1st Tier System (NPFGC), 5.75%, 1/01/18 (a) |
|
|
600 |
|
|
|
643,692 |
|
| 1st Tier System (NPFGC), 5.75%, 1/01/40 |
|
|
195 |
|
|
|
207,788 |
|
| 1st Tier System, Series A, 6.00%, 1/01/19 (a) |
|
|
2,270 |
|
|
|
2,560,197 |
|
| 1st Tier System, Series A (NPFGC), 6.00%, 1/01/28 |
|
|
525 |
|
|
|
589,953 |
|
| 1st Tier System, Series K-2 (AGC), 6.00%, 1/01/19 (a) |
|
|
4,015 |
|
|
|
4,528,278 |
|
| 1st Tier System, Series S, 5.75%, 1/01/18 (a) |
|
|
805 |
|
|
|
863,620 |
|
| 1st Tier, Series K-1 (AGC), 5.75%, 1/01/19 (a) |
|
|
3,800 |
|
|
|
4,263,030 |
|
| Series B, 5.00%, 1/01/40 |
|
|
495 |
|
|
|
580,165 |
|
| San Antonio Public Facilities Corp., Refunding RB, Convention Center Refinancing and Expansion Project, CAB (c): |
|
|
|
|
|
|
|
|
| 0.00%, 9/15/35 |
|
|
4,990 |
|
|
|
2,231,179 |
|
| 0.00%, 9/15/36 |
|
|
11,525 |
|
|
|
4,848,222 |
|
| 0.00%, 9/15/37 |
|
|
8,245 |
|
|
|
3,268,730 |
|
| Texas Municipal Gas Acquisition & Supply Corp. III, RB: |
|
|
|
|
|
|
|
|
| 5.00%, 12/15/32 |
|
|
705 |
|
|
|
798,511 |
|
| Natural Gas Utility Improvements, 5.00%, 12/15/31 |
|
|
1,190 |
|
|
|
1,354,565 |
|
| Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien, AMT, Blueridge Transportation Group: |
|
|
|
|
|
|
|
|
| 5.00%, 12/31/45 |
|
|
820 |
|
|
|
954,054 |
|
| 5.00%, 12/31/50 |
|
|
455 |
|
|
|
529,584 |
|
| Texas Transportation Commission, Refunding RB, Central Texas Turnpike System, 1st Tier, Series A,
5.00%, 8/15/41 |
|
|
3,080 |
|
|
|
3,584,504 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
50,536,047 |
|
| Utah — 1.4% |
|
| Utah Transit Authority, RB, Series A, 5.00%, 6/15/18 (a) |
|
|
5,000 |
|
|
|
5,413,450 |
|
| Washington — 1.1% |
|
| Central Puget Sound Regional Transit Authority, RB, Series A, 5.00%, 11/01/17 (a) |
|
|
1,600 |
|
|
|
1,688,672 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
7 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par
(000) |
|
|
Value |
|
| Washington (continued) |
|
| Port of Seattle Washington, RB, Series C, AMT, 5.00%, 4/01/40 |
|
$ |
1,015 |
|
|
$ |
1,192,452 |
|
| Washington Health Care Facilities Authority, RB, Providence Health & Services, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 10/01/39 |
|
|
525 |
|
|
|
582,451 |
|
| 5.25%, 10/01/39 |
|
|
625 |
|
|
|
701,275 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
4,164,850 |
|
| Wisconsin — 0.8% |
|
| Public Finance Authority, RB, KU Campus Development Corp., Central District Development Project, 5.00%, 3/01/46 |
|
|
1,100 |
|
|
|
1,301,234 |
|
| State of Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit Group, Series E, 5.00%,
11/15/33 |
|
|
1,375 |
|
|
|
1,556,019 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
2,857,253 |
|
| Total Municipal Bonds — 121.4% |
|
|
|
|
|
|
458,275,575 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to
Tender Option Bond Trusts (d) |
|
| Arizona — 0.4% |
|
| City of Phoenix Arizona Civic Improvement Corp., Refunding RB, Water System, Junior Lien,
Series A, 5.00%, 7/01/34 |
|
|
1,200 |
|
|
|
1,336,608 |
|
| California — 1.9% |
|
| County of San Diego California Water Authority Financing Corp., COP, Refunding, Series A (AGM) (a): |
|
|
|
|
|
|
|
|
| 5.00%, 5/01/18 |
|
|
466 |
|
|
|
502,424 |
|
| 5.00%, 5/01/18 |
|
|
2,344 |
|
|
|
2,526,053 |
|
| Los Angeles Community College District California, GO, Election of 2001, Series A (AGM),
5.00%, 8/01/17 (a) |
|
|
2,500 |
|
|
|
2,614,200 |
|
| San Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33 |
|
|
404 |
|
|
|
459,122 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (d) |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| University of California, RB, Series O, 5.75%, 5/15/19 (a) |
|
$ |
840 |
|
|
$ |
959,967 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
7,061,766 |
|
| Colorado — 2.3% |
|
| Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A: |
|
|
|
|
|
|
|
|
| 5.50%, 7/01/34 (f) |
|
|
900 |
|
|
|
1,009,260 |
|
| 5.00%, 2/01/41 |
|
|
7,000 |
|
|
|
7,779,170 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
8,788,430 |
|
| Connecticut — 0.4% |
|
| Connecticut State Health & Educational Facility Authority, Refunding RB, Trinity Health
Credit Group, 5.00%, 12/01/45 |
|
|
1,381 |
|
|
|
1,666,537 |
|
| District of Columbia — 1.6% |
|
| District of Columbia, RB, Series A, 5.50%, 12/01/30 (f) |
|
|
1,005 |
|
|
|
1,162,121 |
|
| District of Columbia Water & Sewer Authority, Refunding RB, Senior Lien, Series A, 6.00%, 10/01/18 (a)(f) |
|
|
1,779 |
|
|
|
1,984,537 |
|
| Metropolitan Washington Airports Authority, Refunding ARB, Series A, AMT, 5.00%, 10/01/30 |
|
|
2,530 |
|
|
|
2,946,210 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
6,092,868 |
|
| Florida — 4.2% |
|
| County of Miami-Dade Florida, Refunding RB, Transit System Sales Surtax, 5.00%, 7/01/42 |
|
|
4,480 |
|
|
|
5,262,656 |
|
| County of Miami-Dade Florida Water & Sewer System, (AGC), 5.00%, 10/01/39 |
|
|
4,621 |
|
|
|
5,293,879 |
|
| County of Orange Florida School Board, COP, Series A (AGC), 5.50%, 8/01/19 (a) |
|
|
3,544 |
|
|
|
4,048,900 |
|
| State of Florida Board of Education, GO, Refunding, Series C, 5.00%, 6/01/18 |
|
|
1,349 |
|
|
|
1,413,598 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
16,019,033 |
|
| Illinois — 3.8% |
|
| Metropolitan Pier & Exposition Authority, RB, McCormick Place Expansion Project, Series A, 5.00%,
6/15/42 (f) |
|
|
260 |
|
|
|
282,275 |
|
| State of Illinois, RB, Build Illinois, Series B, 5.25%, 6/15/34 (f) |
|
|
4,399 |
|
|
|
4,877,154 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 8 |
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (d) |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| State of Illinois Toll Highway Authority, RB: |
|
|
|
|
|
|
|
|
| Senior Priority, Series A, 5.00%, 1/01/40 |
|
$ |
2,730 |
|
|
$ |
3,280,513 |
|
| Senior Priority, Series B, 5.50%, 1/01/18 (a) |
|
|
1,880 |
|
|
|
2,011,017 |
|
| Senior, Series B, 5.00%, 1/01/40 |
|
|
1,050 |
|
|
|
1,261,836 |
|
| Series A, 5.00%, 1/01/38 |
|
|
2,138 |
|
|
|
2,478,502 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
14,191,297 |
|
| Massachusetts — 0.5% |
|
| Commonwealth of Massachusetts, GO, Series A, 5.00%, 3/01/46 |
|
|
1,461 |
|
|
|
1,751,398 |
|
| Michigan — 3.2% |
|
| Michigan Finance Authority, RB: |
|
|
|
|
|
|
|
|
| Beaumont Health Credit Group, 5.00%, 11/01/44 |
|
|
1,970 |
|
|
|
2,348,183 |
|
| Hospital, Trinity Health Credit Group, 5.00%, 12/01/39 |
|
|
7,510 |
|
|
|
8,757,035 |
|
| Michigan State Building Authority, Refunding RB, Facilities Program, Series I, 5.00%, 10/15/45 |
|
|
870 |
|
|
|
1,040,024 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
12,145,242 |
|
| Nevada — 4.2% |
|
| City of Las Vegas Nevada, GO, Limited Tax, Performing Arts Center, 6.00%, 4/01/19 (a)(f) |
|
|
3,778 |
|
|
|
4,310,029 |
|
| County of Clark Nevada Water Reclamation District, GO, Series B (a): |
|
|
|
|
|
|
|
|
| Limited Tax, 5.75%, 7/01/19 |
|
|
1,829 |
|
|
|
2,093,530 |
|
| 5.50%, 7/01/19 |
|
|
4,499 |
|
|
|
5,089,864 |
|
| Las Vegas Valley Water District Nevada, GO, Refunding, Water Improvement, Series A, 5.00%, 6/01/46 |
|
|
3,460 |
|
|
|
4,227,117 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
15,720,540 |
|
| New Jersey — 0.8% |
|
| County of Hudson New Jersey Improvement Authority, RB, Hudson County Vocational-Technical Schools Project, 5.25%,
5/01/51 |
|
|
800 |
|
|
|
989,376 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (d) |
|
Par
(000) |
|
|
Value |
|
| New Jersey (continued) |
|
| New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 6/15/36 (f) |
|
$ |
1,840 |
|
|
$ |
2,035,764 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
3,025,140 |
|
| New York — 4.2% |
|
| City of New York New York Municipal Water Finance Authority, RB, Water & Sewer System, Fiscal 2009, Series A: |
|
|
|
|
|
|
|
|
| 5.75%, 6/15/18 (a) |
|
|
290 |
|
|
|
317,862 |
|
| 5.75%, 6/15/40 |
|
|
970 |
|
|
|
1,062,945 |
|
| City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General Resolution, Fiscal
2013, Series CC, 5.00%, 6/15/47 |
|
|
5,680 |
|
|
|
6,782,333 |
|
| City of New York New York Water & Sewer System, Refunding RB, 2nd General Resolution, Fiscal 2014, Series DD, 5.00%,
6/15/35 |
|
|
1,665 |
|
|
|
2,039,592 |
|
| Metropolitan Transportation Authority, RB,
Sub-Series D-1, 5.25%, 11/15/44 |
|
|
3,470 |
|
|
|
4,303,945 |
|
| Triborough Bridge & Tunnel Authority, RB, General, Series A-2, 5.25%, 11/15/34 (f) |
|
|
1,300 |
|
|
|
1,432,548 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
15,939,225 |
|
| Ohio — 0.2% |
|
| State of Ohio, RB, Cleveland Clinic Health Obligated Group, Series B, 5.50%,
1/01/34 |
|
|
580 |
|
|
|
646,300 |
|
| South Carolina — 0.4% |
|
| South Carolina Public Service Authority, Refunding RB, Series A (a): |
|
|
|
|
|
|
|
|
| 5.50%, 1/01/19 |
|
|
102 |
|
|
|
113,468 |
|
| 5.50%, 1/01/19 |
|
|
1,175 |
|
|
|
1,312,006 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
1,425,474 |
|
| Texas — 0.6% |
|
| Clear Creek ISD Texas, GO, Refunding, School Building (PSF-GTD), 5.00%,
2/15/33 |
|
|
2,200 |
|
|
|
2,252,272 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
9 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts (d) |
|
Par
(000) |
|
|
Value |
|
| Virginia — 0.1% |
|
| County of Fairfax Virginia IDA, Refunding RB, Health Care, Inova Health System, Series A,
5.50%, 5/15/35 |
|
$ |
350 |
|
|
$ |
395,301 |
|
| Washington — 2.1% |
|
| Central Puget Sound Regional Transit Authority, RB, Series A (AGM), 5.00%, 11/01/17 (a) |
|
|
4,004 |
|
|
|
4,226,097 |
|
| Washington Health Care Facilities Authority, Refunding RB, Seattle Children’s Hospital, Series B,
5.00%, 10/01/38 |
|
|
2,880 |
|
|
|
3,760,042 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
7,986,139 |
|
| Wisconsin — 1.0% |
|
| Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community Health, Inc., Obligated
Group: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 4/01/42 |
|
|
1,980 |
|
|
|
2,261,417 |
|
| Series C, 5.25%, 4/01/39 (f) |
|
|
1,430 |
|
|
|
1,558,004 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
3,819,421 |
|
| Total Municipal Bonds Transferred to
Tender Option Bond Trusts — 31.9% |
|
|
|
120,262,991 |
|
Total Long-Term Investments
(Cost — $511,594,126) — 153.3% |
|
|
|
578,538,566 |
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
Shares |
|
|
Value |
|
| BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.26% (g)(h) |
|
|
3,192,017 |
|
|
$ |
3,192,017 |
|
Total Short-Term Securities
(Cost — $3,192,017) — 0.8% |
|
|
|
|
|
|
3,192,017 |
|
| Total Investments (Cost — $514,786,143*) — 154.1% |
|
|
|
581,730,583 |
|
| Other Assets Less Liabilities — 0.7% |
|
|
|
2,608,192 |
|
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (16.6)% |
|
|
|
(62,749,216 |
) |
| Loan for TOB Trust Certificates — (0.5)% |
|
|
|
(1,750,000 |
) |
| VRDP Shares, at Liquidation Value Net of Deferred Offering Costs — (37.7)% |
|
|
|
(142,288,394 |
) |
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
377,551,165 |
|
|
|
|
|
|
|
|
|
|
| * |
|
As of July 31, 2016, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: |
|
|
|
|
|
| Tax cost |
|
$ |
451,069,356 |
|
|
|
|
|
|
| Gross unrealized appreciation |
|
$ |
66,948,774 |
|
| Gross unrealized depreciation |
|
|
(722,660 |
) |
|
|
|
|
|
| Net unrealized appreciation |
|
$ |
66,226,114 |
|
|
|
|
|
|
|
| Notes to Schedule of Investments |
| * |
|
Cost for federal income tax purposes. |
| (a) |
|
U.S. 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. |
| (b) |
|
Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.
|
| (d) |
|
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.
|
| (e) |
|
When-issued security. |
| (f) |
|
All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements,
which expire between October 1, 2016 to December 1, 2029, is $12,159,543. |
| (g) |
|
Current yield as of period end. |
| (h) |
|
During the period ended July 31, 2016, investments in issuers considered to be an affiliate of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of
1940, as amended, were as follows: |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 10 |
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliate |
|
Shares Held
at April 30,
2016 |
|
|
Net
Activity |
|
|
Shares Held
at July 31,
2016 |
|
|
Value at
July 31, 2016 |
|
|
Income |
|
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
|
|
2,133,375 |
|
|
|
1,058,642 |
|
|
|
3,192,017 |
|
|
$ |
3,192,017 |
|
|
$ |
1,630 |
|
|
|
|
| AGC |
|
Assured Guarantee Corp. |
| AGM |
|
Assured Guaranty Municipal Corp. |
| AMBAC |
|
American Municipal Bond Assurance Corp. |
| AMT |
|
Alternative Minimum Tax (subject to) |
| ARB |
|
Airport Revenue Bonds |
| BAM |
|
Build America Mutual Assurance Co. |
| BARB |
|
Building Aid Revenue Bonds |
| BHAC |
|
Berkshire Hathaway Assurance Corp. |
| CAB |
|
Capital Appreciation Bonds |
| COP |
|
Certificates of Participation |
| DFA |
|
Development Finance Agency |
| EDA |
|
Economic Development Authority |
| GARB |
|
General Airport Revenue Bonds |
| GO |
|
General Obligation Bonds |
| GTD |
|
Guaranteed |
| HDA |
|
Housing Development Authority |
| HFA |
|
Housing Finance Agency |
| IDA |
|
Industrial Development Authority |
| ISD |
|
Independent School District |
| M/F |
|
Multi-Family |
| NPFGC |
|
National Public Finance Guarantee Corp. |
| PSF |
|
Permanent School Fund |
| RB |
|
Revenue Bonds |
| S/F |
|
Single-Family |
|
|
|
| Derivative Financial Instruments Outstanding as of Period
End |
Futures Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Contracts
Short |
|
|
Issue |
|
Expiration |
|
Notional
Value |
|
|
Unrealized
Appreciation (Depreciation) |
|
| |
(28 |
) |
|
5-Year U.S. Treasury Note |
|
September 2016 |
|
$ |
3,416,437 |
|
|
$ |
3,591 |
|
| |
(52 |
) |
|
10-Year U.S. Treasury Note |
|
September 2016 |
|
$ |
6,918,438 |
|
|
|
(14,752 |
) |
| |
(34 |
) |
|
Long U.S. Treasury Bond |
|
September 2016 |
|
$ |
5,930,875 |
|
|
|
(183,233 |
) |
| |
(5 |
) |
|
Ultra U.S. Treasury Bond |
|
September 2016 |
|
$ |
952,656 |
|
|
|
(21,236 |
) |
| |
Total |
|
|
$ |
(215,630 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
11 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
| Fair Value Hierarchy as of Period End |
Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation
techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
| |
• |
|
Level 1 — unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access
|
| |
• |
|
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 and derivative financial instruments) |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3
measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such
cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The significant unobservable inputs used by the Global Valuation
Committee in determining the price for Fair Valued Investments are typically categorized as Level 3.
Changes in valuation
techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of
the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of
the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to the Fund’s most recent financial statements as contained in
its annual report.
The following tables summarize the Fund’s investments and derivative financial instruments categorized in
the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Long-Term Investments1 |
|
|
— |
|
|
$ |
578,538,566 |
|
|
|
— |
|
|
$ |
578,538,566 |
|
| Short-Term Securities |
|
$ |
3,192,017 |
|
|
|
— |
|
|
|
— |
|
|
|
3,192,017 |
|
|
|
|
|
|
| Total |
|
$ |
3,192,017 |
|
|
$ |
578,538,566 |
|
|
|
— |
|
|
$ |
581,730,583 |
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative Financial Instruments2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
$ |
3,591 |
|
|
|
— |
|
|
|
— |
|
|
$ |
3,591 |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest rate contracts |
|
|
(219,221 |
) |
|
|
— |
|
|
|
— |
|
|
|
(219,221 |
) |
|
|
|
|
|
| Total |
|
$ |
(215,630 |
) |
|
|
— |
|
|
|
— |
|
|
$ |
(215,630 |
) |
|
|
|
|
|
|
1 See above
Schedule of Investments for values in each state. 2 Derivative financial instruments are futures contracts, which are valued at the unrealized appreciation
(depreciation) on the instrument. |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 12 |
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
|
|
|
|
| Schedule of Investments (concluded) |
|
BlackRock MuniEnhanced Fund, Inc. (MEN) |
The Fund may hold assets and/or liabilities in which the fair
value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Total |
|
| Assets: |
|
| Cash |
|
$ |
11,930 |
|
|
|
— |
|
|
— |
|
$ |
11,930 |
|
| Cash pledged for futures contracts |
|
|
246,900 |
|
|
|
— |
|
|
— |
|
|
246,900 |
|
| Liabilities: |
|
| TOB Trust Certificates |
|
|
— |
|
|
$ |
(64,435,113 |
) |
|
— |
|
|
(64,435,113 |
) |
| Loan for TOB Trust Certificates |
|
|
— |
|
|
|
(1,750,000 |
) |
|
— |
|
|
(1,750,000 |
) |
| VRDP Shares at Liquidation Value |
|
|
— |
|
|
|
(142,500,000 |
) |
|
— |
|
|
(142,500,000 |
) |
|
|
|
|
|
| Total |
|
$ |
258,830 |
|
|
$ |
(208,685,113 |
) |
|
— |
|
$ |
(208,426,283 |
) |
|
|
|
|
|
During the period ended July 31, 2016, there were no transfers between levels.
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
|
JULY 31, 2016 |
|
13 |
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 13a-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 MuniEnhanced Fund, Inc.
|
|
|
|
|
| By: |
|
/s/ John M. Perlowski |
|
|
|
|
John M. Perlowski |
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
BlackRock MuniEnhanced Fund, Inc. |
|
|
|
| Date: |
|
September 21, 2016 |
|
|
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/ John M. Perlowski |
|
|
|
|
John M. Perlowski |
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
BlackRock MuniEnhanced Fund, Inc. |
|
|
|
| Date: |
|
September 21, 2016 |
|
|
|
|
|
| By: |
|
/s/ Neal J. Andrews |
|
|
|
|
Neal J. Andrews |
|
|
|
|
Chief Financial Officer (principal financial officer) of |
|
|
BlackRock MuniEnhanced Fund, Inc. |
|
|
|
| Date: |
|
September 21, 2016 |
|
|