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 811-6414
Name of Fund: MuniYield Fund, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, MuniYield Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ
08536. Mailing address: P.O. Box 9011, Princeton, NJ 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 10/31/2006
Date of reporting period: 11/01/05 - 01/31/06
Item 1 - Schedule of Investments
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
Alabama - 1.6% $ 2,500 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series B, 5.75%
due 6/01/2032 $ 2,647
---------------------------------------------------------------------------------------------------------
5,250 Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 5.50%
due 1/01/2022 5,669
---------------------------------------------------------------------------------------------------------
2,200 Tuscaloosa, Alabama, Special Care Facilities Financing Authority, Residential
Care Facility Revenue Bonds (Capstone Village, Inc. Project) Series A, 5.625%
due 8/01/2025 2,207
--------------------------------------------------------------------------------------------------------------------------------
Arizona - 9.3% 5,825 Arizona State Transportation Board, Highway Revenue Bonds, Sub-Series A, 5%
due 7/01/2021 (r) 6,174
---------------------------------------------------------------------------------------------------------
7,030 Arizona State Transportation Board, Highway Revenue Bonds, Sub-Series A, 5%
due 7/01/2022 7,425
---------------------------------------------------------------------------------------------------------
5,240 Arizona State Transportation Board, Highway Revenue Bonds, Sub-Series A, 5%
due 7/01/2023 5,523
---------------------------------------------------------------------------------------------------------
3,400 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project 1), Series A, 6.75% due 7/01/2029 3,414
---------------------------------------------------------------------------------------------------------
5,000 Maricopa County, Arizona, IDA, M/F Housing Revenue Refunding Bonds (CRS Pine
Ridge Housing Corporation), Series A-1, 6% due 10/20/2031 (e)(i) 5,304
---------------------------------------------------------------------------------------------------------
5,000 Maricopa County, Arizona, IDA, M/F Housing Revenue Refunding Bonds (CRS Pine
Ridge Housing Corporation), Series A-1, 6.05% due 10/20/2036 (e)(i) 5,256
---------------------------------------------------------------------------------------------------------
5,800 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West
Airlines Inc. Project), AMT, 6.25% due 6/01/2019 4,818
---------------------------------------------------------------------------------------------------------
6,900 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West
Airlines Inc. Project), AMT, 6.30% due 4/01/2023 5,605
---------------------------------------------------------------------------------------------------------
1,610 Phoenix, Arizona, IDA, M/F Housing Revenue Bonds (Summit Apartments LLC Project),
6.25% due 7/20/2022 (i) 1,743
---------------------------------------------------------------------------------------------------------
1,425 Phoenix, Arizona, IDA, M/F Housing Revenue Bonds (Summit Apartments LLC Project),
6.45% due 7/20/2032 (i) 1,537
--------------------------------------------------------------------------------------------------------------------------------
Portfolio Abbreviations
To simplify the listings of MuniYield Fund Inc.'s portfolio holdings in the
Schedule of Investments, we have abbreviated the names of many of the securities
according to the list below.
AMT Alternative Minimum Tax (subject to)
COP Certificates of Participation
DRIVERS Derivative Inverse Tax-Exempt Receipts
EDA Economic Development Authority
GO General Obligation Bonds
HFA Housing Finance Agency
IDA Industrial Development Authority
IDB Industrial Development Board
IDR Industrial Development Revenue Bonds
M/F Multi-Family
PCR Pollution Control Revenue Bonds
RITR Residual Interest Trust Receipts
ROLS Reset Option Long Securities
S/F Single-Family
VRDN Variable Rate Demand Notes
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 1,305 Phoenix, Arizona, IDA, M/F Housing Revenue Bonds (Summit Apartments LLC Project),
6.55% due 7/20/2037 (i) $ 1,411
---------------------------------------------------------------------------------------------------------
1,400 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project II), Series A, 6.75% due 7/01/2031 1,466
---------------------------------------------------------------------------------------------------------
3,000 Vistancia Community Facilities District, Arizona, GO, 5.50% due 7/15/2020 3,017
---------------------------------------------------------------------------------------------------------
2,125 Vistancia Community Facilities District, Arizona, GO, 5.75% due 7/15/2024 2,151
---------------------------------------------------------------------------------------------------------
5,900 Yavapai County, Arizona, IDA, Hospital Facility Revenue Bonds (Yavapai Regional
Medical Center), Series A, 6% due 8/01/2033 6,288
--------------------------------------------------------------------------------------------------------------------------------
Arkansas - 0.9% 2,000 University of Arkansas, University Construction Revenue Bonds (UAMS Campus),
Series B, 5% due 11/01/2020 (k) 2,121
---------------------------------------------------------------------------------------------------------
1,600 University of Arkansas, University Construction Revenue Bonds (UAMS Campus),
Series B, 5% due 11/01/2027 (k) 1,673
---------------------------------------------------------------------------------------------------------
1,000 University of Arkansas, University Revenue Refunding Bonds (UAMS Campus),
Series A, 5% due 11/01/2014 (k) 1,081
---------------------------------------------------------------------------------------------------------
1,000 Washington County, Arkansas, Hospital Construction Revenue Refunding Bonds
(Regional Medical Center), Series A, 5% due 2/01/2035 1,001
--------------------------------------------------------------------------------------------------------------------------------
California - 13.4% 8,760 California State, GO, 5% due 2/01/2033 8,992
---------------------------------------------------------------------------------------------------------
2,000 California State Public Works Board, Lease Revenue Bonds (Department of
Corrections), Series C, 5% due 6/01/2025 2,067
---------------------------------------------------------------------------------------------------------
4,500 California State Public Works Board, Lease Revenue Bonds (Department of Mental
Health - Coalinga State Hospital), Series A, 5.125% due 6/01/2029 4,662
---------------------------------------------------------------------------------------------------------
6,800 California State, Various Purpose, GO, 5.25% due 11/01/2025 7,291
---------------------------------------------------------------------------------------------------------
10,000 California State, Various Purpose, GO, 5% due 4/01/2031 (a) 10,352
---------------------------------------------------------------------------------------------------------
5,550 California State, Various Purpose, GO, 5.50% due 11/01/2033 6,052
---------------------------------------------------------------------------------------------------------
5,500 Golden State Tobacco Securitization Corporation of California, Tobacco
Settlement Revenue Bonds, Series A-3, 7.875% due 6/01/2042 6,610
---------------------------------------------------------------------------------------------------------
7,500 Golden State Tobacco Securitization Corporation of California, Tobacco
Settlement Revenue Bonds, Series A-4, 7.80% due 6/01/2042 8,979
---------------------------------------------------------------------------------------------------------
18,400 Los Angeles, California, Unified School District, GO, Series A, 5%
due 7/01/2023 (h) 19,317
---------------------------------------------------------------------------------------------------------
5,145 Santa Clara, California, Subordinated Electric Revenue Bonds, Series A, 5%
due 7/01/2022 (k) 5,411
---------------------------------------------------------------------------------------------------------
7,465 University of California Revenue Bonds (Multiple Purpose Projects), Series Q,
5% due 9/01/2021 (h) 7,845
--------------------------------------------------------------------------------------------------------------------------------
Colorado - 5.4% 3,245 Colorado Educational and Cultural Facilities Authority, Revenue Refunding Bonds
(University of Denver Project), Series B, 5.25% due 3/01/2035 (d) 3,481
---------------------------------------------------------------------------------------------------------
400 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Series D-2, 6.90%
due 4/01/2029 412
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 8,000 Denver, Colorado, City and County Airport Revenue Bonds, AMT, Series D, 7.75%
due 11/15/2013 (a)(p) $ 9,317
---------------------------------------------------------------------------------------------------------
5,050 Denver, Colorado, Urban Renewal Authority, Tax Increment Revenue Bonds
(Pavilions), AMT, 7.75% due 9/01/2016 5,236
---------------------------------------------------------------------------------------------------------
1,735 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee),
Series A, 7.10% due 9/01/2014 1,856
---------------------------------------------------------------------------------------------------------
5,065 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee),
Series A, 7.35% due 9/01/2031 5,365
---------------------------------------------------------------------------------------------------------
6,850 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds
(Public Improvement Fees), 8% due 12/01/2025 7,524
---------------------------------------------------------------------------------------------------------
1,885 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds
(Public Improvement Fees), 8.125% due 12/01/2025 1,876
--------------------------------------------------------------------------------------------------------------------------------
Connecticut - 0.7% 5,000 Bridgeport, Connecticut, Senior Living Facilities Revenue Bonds (3030 Park
Retirement Community Project), 7.25% due 4/01/2035 4,233
---------------------------------------------------------------------------------------------------------
525 Connecticut State Development Authority, IDR (AFCO Cargo BDL-LLC Project), AMT,
7.35% due 4/01/2010 533
--------------------------------------------------------------------------------------------------------------------------------
Delaware - 0.3% 2,000 New Castle County, Delaware, PCR (General Motors Corporation Project), VRDN, 8%
due 10/01/2008 (n) 2,000
--------------------------------------------------------------------------------------------------------------------------------
Florida - 5.5% 11,500 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds
(National Gypsum), AMT, Series A, 7.125% due 4/01/2030 12,768
---------------------------------------------------------------------------------------------------------
5,000 Hillsborough County, Florida, IDA, Exempt Facilities Revenue Bonds (National
Gypsum), AMT, Series B, 7.125% due 4/01/2030 5,551
---------------------------------------------------------------------------------------------------------
4,705 Lee County, Florida, Revenue Bonds, 5% due 10/01/2022 (a) 4,979
---------------------------------------------------------------------------------------------------------
5,450 Midtown Miami, Florida, Community Development District, Special Assessment
Revenue Bonds, Series B, 6.50% due 5/01/2037 5,889
---------------------------------------------------------------------------------------------------------
1,100 Orange County, Florida, Health Facilities Authority, Health Care Revenue
Refunding Bonds (Orlando Lutheran Towers), 5.375% due 7/01/2020 1,098
---------------------------------------------------------------------------------------------------------
2,500 Orlando, Florida, Greater Orlando Aviation Authority, Airport Facilities Revenue
Bonds (JetBlue Airways Corp.), AMT, 6.50% due 11/15/2036 2,501
---------------------------------------------------------------------------------------------------------
3,000 Santa Rosa Bay Bridge Authority, Florida, Revenue Bonds, 6.25% due 7/01/2028 3,016
--------------------------------------------------------------------------------------------------------------------------------
Georgia - 1.7% 4,600 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.90%
due 12/01/2024 4,975
---------------------------------------------------------------------------------------------------------
2,285 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage Revenue
Bonds (Coastal Community Retirement Corporation Project), Series A, 7.125%
due 1/01/2025 2,318
---------------------------------------------------------------------------------------------------------
3,595 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage Revenue
Bonds (Coastal Community Retirement Corporation Project), Series A, 7.25%
due 1/01/2035 3,644
--------------------------------------------------------------------------------------------------------------------------------
Idaho - 1.6% 290 Idaho Housing Agency, S/F Mortgage Revenue Refunding Bonds, AMT, Senior Series
C-2, 7.15% due 7/01/2023 293
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$10,000 Power County, Idaho, Industrial Development Corporation, Solid Waste Disposal
Revenue Bonds (FMC Corporation Project), AMT, 6.45% due 8/01/2032 $ 10,486
--------------------------------------------------------------------------------------------------------------------------------
Illinois - 6.3% 725 Beardstown, Illinois, IDR (Jefferson Smurfit Corp. Project), 8% due 10/01/2016 749
---------------------------------------------------------------------------------------------------------
1,000 Bolingbrook, Illinois, Special Services Area Number 1, Special Tax Bonds (Forest
City Project), 5.90%* due 9/01/2007 917
---------------------------------------------------------------------------------------------------------
9,300 Chicago, Illinois, O'Hare International Airport, General Revenue Bonds, 3rd
Lien, Series A, 5% due 1/01/2029 (k) 9,668
---------------------------------------------------------------------------------------------------------
13,200 Chicago, Illinois, O'Hare International Airport Revenue Bonds, 3rd Lien, AMT,
Series B-2, 6% due 1/01/2029 (q) 14,654
---------------------------------------------------------------------------------------------------------
3,915 Chicago, Illinois, O'Hare International Airport, Special Facility Revenue
Refunding Bonds (American Airlines Inc. Project), 8.20% due 12/01/2024 3,784
---------------------------------------------------------------------------------------------------------
45 Chicago, Illinois, S/F Mortgage Revenue Bonds, AMT, Series B, 7.625%
due 9/01/2027 (f)(g)(i) 45
---------------------------------------------------------------------------------------------------------
3,285 Illinois Development Finance Authority Revenue Bonds (Presbyterian Home Lake
Project), Series B, 6.30% due 9/01/2022 (h) 3,401
---------------------------------------------------------------------------------------------------------
1,750 Illinois State Finance Authority Revenue Bonds (Friendship Village of
Schaumburg), Series A, 5.625% due 2/15/2037 1,759
---------------------------------------------------------------------------------------------------------
2,155 Illinois State Finance Authority Revenue Bonds (Landing At Plymouth Place
Project), Series A, 6% due 5/15/2037 2,159
---------------------------------------------------------------------------------------------------------
4,000 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax
Revenue Bonds (McCormick Place Expansion), Series A, 5.50% due 6/15/2023 (k) 4,359
--------------------------------------------------------------------------------------------------------------------------------
Indiana - 0.5% 2,850 Indiana Municipal Power Agency, Power Supply System Revenue Bonds, Series A, 5%
due 1/01/2029 (d) 2,958
--------------------------------------------------------------------------------------------------------------------------------
Kansas - 0.2% 1,250 Lenexa, Kansas, Health Care Facility Revenue Bonds (Lakeview Village Inc.),
Series C, 6.875% due 5/15/2032 1,345
--------------------------------------------------------------------------------------------------------------------------------
Kentucky - 0.5% 3,000 Kentucky Economic Development Finance Authority, Health System Revenue Refunding
Bonds (Norton Healthcare Inc.), Series A, 6.625% due 10/01/2028 3,263
--------------------------------------------------------------------------------------------------------------------------------
Louisiana - 4.0% 6,750 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan
Missionaries of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 6,907
---------------------------------------------------------------------------------------------------------
19,000 Port New Orleans, Louisiana, IDR, Refunding (Continental Grain Company Project),
6.50% due 1/01/2017 19,430
--------------------------------------------------------------------------------------------------------------------------------
Maryland - 3.7% 5,615 Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Senior Series A,
5.25% due 9/01/2039 (q) 6,001
---------------------------------------------------------------------------------------------------------
1,920 Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Sub-Series B, 5.875%
due 9/01/2039 1,994
---------------------------------------------------------------------------------------------------------
3,000 Maryland State Energy Financing Administration, Limited Obligation Revenue Bonds
(Cogeneration-AES Warrior Run), AMT, 7.40% due 9/01/2019 3,041
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 6,375 Maryland State Health and Higher Educational Facilities Authority, Revenue
Refunding Bonds (Peninsula Regional Medical Center), 5% due 7/01/2036 $ 6,520
---------------------------------------------------------------------------------------------------------
4,000 Maryland State Health and Higher Educational Facilities Authority, Revenue
Refunding Bonds (University of Maryland Medical System), 6% due 7/01/2032 4,340
---------------------------------------------------------------------------------------------------------
500 Maryland State Industrial Development Financing Authority, Economic Development
Revenue Bonds (Our Lady of Good Counsel School), Series A, 6% due 5/01/2035 520
---------------------------------------------------------------------------------------------------------
1,500 Prince Georges County, Maryland, Special Obligation Bonds (National Harbor
Project), 5.20% due 7/01/2034 1,510
--------------------------------------------------------------------------------------------------------------------------------
Massachusetts - 9.6% 6,640 Massachusetts Bay Transportation Authority, Sales Tax Revenue Refunding Bonds,
Senior Series A, 5% due 7/01/2032 6,838
---------------------------------------------------------------------------------------------------------
10,000 Massachusetts State, Consolidated Loan, GO, Series C, 5% due 9/01/2022 10,585
---------------------------------------------------------------------------------------------------------
3,500 Massachusetts State Development Finance Agency, Human Service Provider Revenue
Bonds (Seven Hills Foundation & Affiliates), 5% due 9/01/2035 (m) 3,564
---------------------------------------------------------------------------------------------------------
1,700 Massachusetts State Development Finance Agency Revenue Bonds (WGBH Educational
Foundation), Series A, 5.375% due 1/01/2042 (a) 1,822
---------------------------------------------------------------------------------------------------------
2,750 Massachusetts State Development Finance Agency, Revenue Refunding Bonds (Western
New England College), Series A, 5% due 9/01/2033 (b) 2,832
---------------------------------------------------------------------------------------------------------
6,250 Massachusetts State Health and Educational Facilities Authority, Revenue Bonds
(University of Massachusetts Memorial Healthcare), Series D, 5% due 7/01/2033 6,176
---------------------------------------------------------------------------------------------------------
19,330 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds,
Series A, 5% due 8/15/2030 (h) 20,225
---------------------------------------------------------------------------------------------------------
10,000 Massachusetts State Special Obligation Dedicated Tax Revenue Bonds, 5.25%
due 1/01/2014 (d)(l) 10,954
--------------------------------------------------------------------------------------------------------------------------------
Michigan - 1.3% 6,060 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds
(Mount Clemens General Hospital), Series B, 5.875% due 11/15/2034 6,139
---------------------------------------------------------------------------------------------------------
2,500 Michigan State Strategic Fund, PCR, Refunding (General Motors Corp.), 6.20%
due 9/01/2020 2,100
--------------------------------------------------------------------------------------------------------------------------------
Minnesota - 0.9% 420 Eden Prairie, Minnesota, M/F Housing Revenue Bonds (Rolling Hills Project),
Series A, 6% due 8/20/2021 (i) 459
---------------------------------------------------------------------------------------------------------
2,000 Eden Prairie, Minnesota, M/F Housing Revenue Bonds (Rolling Hills Project),
Series A, 6.20% due 2/20/2043 (i) 2,159
---------------------------------------------------------------------------------------------------------
960 Minneapolis, Minnesota, M/F Housing Revenue Bonds (Gaar Scott Loft Project),
AMT, 5.95% due 5/01/2030 1,003
---------------------------------------------------------------------------------------------------------
1,000 Minnesota State Municipal Power Agency, Electric Revenue Bonds, 5%
due 10/01/2030 1,022
---------------------------------------------------------------------------------------------------------
1,500 Minnesota State Municipal Power Agency, Electric Revenue Bonds, 5%
due 10/01/2035 1,530
--------------------------------------------------------------------------------------------------------------------------------
Missouri - 0.5% 230 Fenton, Missouri, Tax Increment Revenue Refunding and Improvement Bonds
(Gravois Bluffs), 6.75% due 10/01/2015 231
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 2,800 Fenton, Missouri, Tax Increment Revenue Refunding and Improvement Bonds
(Gravois Bluffs), 7% due 10/01/2021 $ 2,994
---------------------------------------------------------------------------------------------------------
160 Missouri State Housing Development Commission, S/F Mortgage Revenue Bonds,
Homeownership, AMT, Series B, 7.55% due 9/01/2027 (g)(i) 160
--------------------------------------------------------------------------------------------------------------------------------
Nebraska - 0.3% 865 Lincoln, Nebraska, Sanitation and Sewer Revenue Bonds, 4.25% due 6/15/2024 847
---------------------------------------------------------------------------------------------------------
905 Lincoln, Nebraska, Sanitation and Sewer Revenue Bonds, 4.25% due 6/15/2025 882
--------------------------------------------------------------------------------------------------------------------------------
New Hampshire - 0.6% 3,425 New Hampshire Health and Education Facilities Authority, Revenue Refunding Bonds
(Elliot Hospital), Series B, 5.60% due 10/01/2022 3,621
--------------------------------------------------------------------------------------------------------------------------------
New Jersey - 18.5% 11,435 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 11,914
---------------------------------------------------------------------------------------------------------
710 New Jersey EDA, First Mortgage Revenue Bonds (Lions Gate Project), Series A,
5.75% due 1/01/2025 723
---------------------------------------------------------------------------------------------------------
230 New Jersey EDA, First Mortgage Revenue Bonds (Lions Gate Project), Series A,
5.875% due 1/01/2037 235
---------------------------------------------------------------------------------------------------------
3,000 New Jersey EDA, First Mortgage Revenue Bonds (The Presbyterian Home), Series A,
6.375% due 11/01/2031 3,126
---------------------------------------------------------------------------------------------------------
20,000 New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5%
due 7/01/2029 (k) 20,821
---------------------------------------------------------------------------------------------------------
4,400 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc.
Facility), Series A, 7.25% due 11/15/2031 4,765
---------------------------------------------------------------------------------------------------------
8,825 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.25%
due 3/01/2023 9,436
---------------------------------------------------------------------------------------------------------
1,585 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.25%
due 3/01/2026 1,684
---------------------------------------------------------------------------------------------------------
3,905 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc.
Project), AMT, 6.25% due 9/15/2019 3,679
---------------------------------------------------------------------------------------------------------
14,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc.
Project), AMT, 6.25% due 9/15/2029 12,948
---------------------------------------------------------------------------------------------------------
3,680 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack
Valley Hospital Association), 6.625% due 7/01/2036 3,674
---------------------------------------------------------------------------------------------------------
1,400 New Jersey Health Care Facilities Financing Authority, Revenue Refunding Bonds
(Pascack Valley Hospital Association), 5.125% due 7/01/2028 1,163
---------------------------------------------------------------------------------------------------------
9,715 New Jersey State Transportation Trust Fund Authority, Transportation System
Revenue Bonds, Series D, 5% due 6/15/2019 (h) 10,350
---------------------------------------------------------------------------------------------------------
9,410 New Jersey State Transportation Trust Fund Authority, Transportation System
Revenue Bonds, Series D, 5% due 6/15/2020 9,928
---------------------------------------------------------------------------------------------------------
4,360 Port Authority of New York and New Jersey, Revenue Refunding Bonds, DRIVERS,
AMT, Series 177, 8.63% due 10/15/2032 (k)(o) 4,778
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$20,575 Port Authority of New York and New Jersey, Special Obligation Revenue Bonds,
DRIVERS, AMT, Series 192, 8.13% due 12/01/2025 (k)(o) $ 22,011
--------------------------------------------------------------------------------------------------------------------------------
New York - 18.1% 2,200 Dutchess County, New York, IDA, Civic Facility Revenue Refunding Bonds (Saint
Francis Hospital), Series A, 7.50% due 3/01/2029 2,399
---------------------------------------------------------------------------------------------------------
5,595 Metropolitan Transportation Authority, New York, Commuter Facilities Revenue
Bonds, RITR, Series 9, 8.82% due 7/01/2006 (d)(l)(o) 5,949
---------------------------------------------------------------------------------------------------------
11,000 Metropolitan Transportation Authority, New York, Transportation Revenue
Refunding Bonds, Series F, 5% due 11/15/2035 11,317
---------------------------------------------------------------------------------------------------------
1,250 New York City, New York, City IDA, Special Facility Revenue Bonds (British
Airways PLC Project), AMT, 7.625% due 12/01/2032 1,362
---------------------------------------------------------------------------------------------------------
14,000 New York City, New York, City Municipal Water Finance Authority, Water and Sewer
System, Revenue Refunding Bonds, 5.50% due 6/15/2010 (l) 15,296
---------------------------------------------------------------------------------------------------------
10,000 New York City, New York, GO, Refunding, Trust Receipts, Series R, 9.402%
due 5/15/2014 (d)(o) 12,322
---------------------------------------------------------------------------------------------------------
10,000 New York City, New York, GO, Series M, 5% due 4/01/2021 10,487
---------------------------------------------------------------------------------------------------------
2,500 New York City, New York, GO, Series O, 5% due 6/01/2033 2,569
---------------------------------------------------------------------------------------------------------
6,500 New York Liberty Development Corporation, Revenue Bonds (Goldman Sachs
Headquarters), 5.25% due 10/01/2035 7,202
---------------------------------------------------------------------------------------------------------
5,000 New York State Dormitory Authority, Revenue Refunding Bonds (Mount Sinai Health),
Series A, 6.75% due 7/01/2020 5,408
---------------------------------------------------------------------------------------------------------
315 New York State Dormitory Authority, Revenue Refunding Bonds (Mount Sinai Health),
Series A, 6.50% due 7/01/2025 334
---------------------------------------------------------------------------------------------------------
5,000 New York State Dormitory Authority, State Personal Income Tax Revenue Bonds
(Education), Series F, 5% due 3/15/2035 5,166
---------------------------------------------------------------------------------------------------------
8,360 New York State Dormitory Authority, Supported Debt Revenue Refunding Bonds
(Department of Health), Series A, 5% due 7/01/2023 (c) 8,789
---------------------------------------------------------------------------------------------------------
2,500 Suffolk County, New York, IDA, IDR, Refunding (Nissequogue Cogeneration Partners
Facility), AMT, 5.50% due 1/01/2023 2,319
---------------------------------------------------------------------------------------------------------
9,400 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series C-1,
5.50% due 6/01/2021 10,307
---------------------------------------------------------------------------------------------------------
10,000 Triborough Bridge and Tunnel Authority, New York, Subordinate Revenue Bonds,
5.25% due 11/15/2030 10,575
---------------------------------------------------------------------------------------------------------
3,450 Westchester County, New York, IDA, Continuing Care Retirement Mortgage Revenue
Bonds (Kendal on Hudson Project), Series A, 6.375% due 1/01/2024 3,667
---------------------------------------------------------------------------------------------------------
2,895 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue
Bonds (Kendal on Hudson Project), Series A, 6.50% due 1/01/2034 3,087
--------------------------------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
North Carolina - 1.9% $ 2,710 Charlotte, North Carolina, Airport Revenue Bonds, Series A, 5% due 7/01/2029 (k) $ 2,810
---------------------------------------------------------------------------------------------------------
4,750 North Carolina Eastern Municipal Power Agency, Power System Revenue Bonds,
Series D, 6.75% due 1/01/2026 5,218
---------------------------------------------------------------------------------------------------------
285 North Carolina HFA, Home Ownership Revenue Bonds, AMT, Series 8-A, 6.20%
due 7/01/2016 295
---------------------------------------------------------------------------------------------------------
865 North Carolina, HFA, S/F Revenue Bonds, Series II, 6.20% due 3/01/2016 (e) 891
---------------------------------------------------------------------------------------------------------
1,000 North Carolina Medical Care Commission, Health Care Facilities, First Mortgage
Revenue Bonds (Arbor Acres Community Project), 6.375% due 3/01/2032 1,047
---------------------------------------------------------------------------------------------------------
2,000 North Carolina Medical Care Commission, Health Care Housing Revenue Bonds
(The ARC of North Carolina Projects), Series A, 5.80% due 10/01/2034 2,058
--------------------------------------------------------------------------------------------------------------------------------
Ohio - 3.6% 1,410 Cuyahoga County, Ohio, Mortgage Revenue Bonds (West Tech Apartments Project),
AMT, 5.75% due 9/20/2020 (i) 1,478
---------------------------------------------------------------------------------------------------------
2,250 Cuyahoga County, Ohio, Mortgage Revenue Bonds (West Tech Apartments Project),
AMT, 5.85% due 9/20/2030 (i) 2,351
---------------------------------------------------------------------------------------------------------
5,065 Hamilton County, Ohio, Sewer System Improvement Revenue Bonds (The Metropolitan
Sewer District of Greater Cincinnati), Series B, 5% due 12/01/2028 (k) 5,318
---------------------------------------------------------------------------------------------------------
2,175 Lucas County, Ohio, Health Care Facility Revenue Refunding and Improvement Bonds
(Sunset Retirement Communities), Series A, 6.625% due 8/15/2030 2,327
---------------------------------------------------------------------------------------------------------
5,000 Mason, Ohio, City School District, GO (School Improvement), 5% due 12/01/2031 (h) 5,193
---------------------------------------------------------------------------------------------------------
2,495 Mason, Ohio, Sewer System Revenue Refunding and Improvement Bonds, 5%
due 12/01/2028 (k) 2,604
---------------------------------------------------------------------------------------------------------
970 Port of Greater Cincinnati Development Authority, Ohio, Special Assessment
Revenue Bonds (Cooperative Public Parking Infrastructure Project), 6.30%
due 2/15/2024 1,029
---------------------------------------------------------------------------------------------------------
750 Toledo-Lucas County, Ohio, Port Authority Revenue Bonds (Saint Mary Woods
Project), Series A, 6% due 5/15/2024 762
---------------------------------------------------------------------------------------------------------
2,250 Toledo-Lucas County, Ohio, Port Authority Revenue Bonds (Saint Mary Woods
Project), Series A, 6% due 5/15/2034 2,266
--------------------------------------------------------------------------------------------------------------------------------
Oklahoma - 0.6% 4,080 Norman, Oklahoma, Regional Hospital Authority, Hospital Revenue Bonds, 5.375%
due 9/01/2036 4,088
--------------------------------------------------------------------------------------------------------------------------------
Oregon - 1.5% 4,405 Oregon State Department of Administrative Services, COP, Series A, 6%
due 5/01/2010 (a)(l) 4,880
---------------------------------------------------------------------------------------------------------
3,085 Oregon State, GO, Refunding (Veterans Welfare), Series 80A, 5.70% due 10/01/2032 3,093
---------------------------------------------------------------------------------------------------------
1,830 Portland, Oregon, Housing Authority, Housing Revenue Bonds (Pine Square and
University Place), Series A, 5.875% due 1/01/2022 1,832
--------------------------------------------------------------------------------------------------------------------------------
Pennsylvania - 6.9% 2,570 Allegheny County, Pennsylvania, IDA, Environmental Improvement Revenue Refunding
Bonds, 5.50% due 11/01/2016 2,630
---------------------------------------------------------------------------------------------------------
5,000 Lehigh County, Pennsylvania, IDA, PCR, Refunding (Pennsylvania Power and Light
Utilities Corporation Project), 4.75% due 2/15/2027 (d) 5,073
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 5,270 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue
Bonds (National Gypsum Company), AMT, Series A, 6.25% due 11/01/2027 $ 5,617
---------------------------------------------------------------------------------------------------------
16,270 Pennsylvania State Higher Educational Facilities Authority, Health Services
Revenue Refunding Bonds (Allegheny Delaware Valley Obligation), Series C, 5.875%
due 11/15/2016 (k) 16,886
---------------------------------------------------------------------------------------------------------
1,265 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75%
due 12/01/2017 1,280
---------------------------------------------------------------------------------------------------------
3,650 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development
(Days Inn), Refunding, Series B, 6.50% due 10/01/2027 3,771
---------------------------------------------------------------------------------------------------------
4,000 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development
(Doubletree), Refunding, Series A, 6.50% due 10/01/2027 4,133
---------------------------------------------------------------------------------------------------------
5,000 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie
Healthcare System), Series B, 7.125% due 12/01/2031 5,917
--------------------------------------------------------------------------------------------------------------------------------
Rhode Island -1.1% 4,240 Central Falls, Rhode Island, Detention Facility Corporation, Detention
Facility, Revenue Refunding Bonds, 7.25% due 7/15/2035 4,560
---------------------------------------------------------------------------------------------------------
1,225 Woonsocket, Rhode Island, GO, 6% due 10/01/2017 (d) 1,362
---------------------------------------------------------------------------------------------------------
1,195 Woonsocket, Rhode Island, GO, 6% due 10/01/2018 (d) 1,326
--------------------------------------------------------------------------------------------------------------------------------
South Carolina - 1.5% 3,898 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue
Bonds, ROLS, Series II-R-481X-1, 7.366% due 12/01/2028 (b)(o) 4,428
---------------------------------------------------------------------------------------------------------
3,460 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue
Bonds, ROLS, Series II-R-481X-2, 7.366% due 12/01/2029 (b)(o) 3,914
---------------------------------------------------------------------------------------------------------
1,255 Charleston Educational Excellence Financing Corporation, South Carolina, Revenue
Bonds, ROLS, Series II-R-481X-3, 7.366% due 12/01/2030 (b)(o) 1,418
--------------------------------------------------------------------------------------------------------------------------------
Tennessee - 2.3% 4,610 Hardeman County, Tennessee, Correctional Facilities Corporation Revenue Bonds,
7.75% due 8/01/2017 4,774
---------------------------------------------------------------------------------------------------------
10,000 McMinn County, Tennessee, IDB, Solid Waste Revenue Bonds (Recycling
Facility-Calhoun Newsprint), AMT, 7.40% due 12/01/2022 10,085
--------------------------------------------------------------------------------------------------------------------------------
Texas - 12.6% 5,000 Alliance Airport Authority, Inc., Texas, Special Facilities Revenue Bonds
(American Airlines Inc. Project), AMT, 7.50% due 12/01/2029 4,296
---------------------------------------------------------------------------------------------------------
5,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.),
First Tier, Series A, 6.70% due 1/01/2028 5,339
---------------------------------------------------------------------------------------------------------
5,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.),
First Tier, Series A, 6.70% due 1/01/2032 5,277
---------------------------------------------------------------------------------------------------------
1,300 Bexar County, Texas, Housing Finance Corporation, M/F Housing Revenue Bonds
(Water at Northern Hills Apartments), Series A, 5.80% due 8/01/2021 (k) 1,335
---------------------------------------------------------------------------------------------------------
2,460 Bexar County, Texas, Housing Finance Corporation, M/F Housing Revenue Bonds
(Water at Northern Hills Apartments), Series A, 6% due 8/01/2031 (k) 2,526
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 1,000 Bexar County, Texas, Housing Finance Corporation, M/F Housing Revenue Bonds
(Water at Northern Hills Apartments), Series A, 6.05% due 8/01/2036 (k) $ 1,027
---------------------------------------------------------------------------------------------------------
6,650 Brazos River Authority, Texas, PCR, Refunding (Utilities Electric Company), AMT,
Series B, 5.05% due 6/01/2030 6,683
---------------------------------------------------------------------------------------------------------
3,755 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc.
Project), Series B, 7.75% due 12/01/2018 4,106
---------------------------------------------------------------------------------------------------------
3,000 Gregg County, Texas, Health Facilities Development Corporation, Hospital Revenue
Bonds (Good Shepherd Medical Center Project), 6.875% due 10/01/2020 (m) 3,370
---------------------------------------------------------------------------------------------------------
2,000 Gregg County, Texas, Health Facilities Development Corporation, Hospital Revenue
Bonds (Good Shepherd Medical Center Project), 6.375% due 10/01/2025 (m) 2,204
---------------------------------------------------------------------------------------------------------
5,000 Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal
Facility Revenue Bonds (E. I. du Pont de Nemours and Company Project), AMT,
6.40% due 4/01/2026 5,118
---------------------------------------------------------------------------------------------------------
3,900 Gulf Coast, Texas, IDA, Solid Waste Disposal Revenue Bonds (Citgo Petroleum
Corporation Project), AMT, 7.50% due 5/01/2025 4,406
---------------------------------------------------------------------------------------------------------
1,600 Houston, Texas, Industrial Development Corporation Revenue Bonds (Air Cargo),
AMT, 6.375% due 1/01/2023 1,680
---------------------------------------------------------------------------------------------------------
4,830 Lower Colorado River Authority, Texas, PCR (Samsung Austin Semiconductor), AMT,
6.375% due 4/01/2027 5,067
---------------------------------------------------------------------------------------------------------
3,330 Lower Colorado River Authority, Texas, PCR (Samsung Austin Semiconductor), AMT,
6.95% due 4/01/2030 3,719
---------------------------------------------------------------------------------------------------------
7,030 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds
(Reliant Energy Inc.), Series C, 8% due 5/01/2029 7,615
---------------------------------------------------------------------------------------------------------
3,900 Port Corpus Christi, Texas, Individual Development Corporation, Environmental
Facilities Revenue Bonds (Citgo Petroleum Corporation Project), AMT, 8.25%
due 11/01/2031 4,109
---------------------------------------------------------------------------------------------------------
6,500 Texas State Turnpike Authority, Central Texas Turnpike System Revenue Bonds,
1st Tier, Series A, 5.50% due 8/15/2039 (a) 7,037
---------------------------------------------------------------------------------------------------------
7,020 Tyler, Texas, Waterworks and Sewer Revenue Bonds, 5.70% due 9/01/2010 (d)(l) 7,666
--------------------------------------------------------------------------------------------------------------------------------
Utah - 0.3% 1,545 Utah State Board of Regents, Revenue Refunding Bonds (University of Utah
Research Facilities), Series A, 5.50% due 4/01/2010 (k)(l) 1,680
--------------------------------------------------------------------------------------------------------------------------------
Virginia - 2.7% 1,500 James City County, Virginia, EDA, Residential Care Facility, First Mortgage
Revenue Refunding Bonds (Williamsburg Landing, Inc.), Series A, 5.35%
due 9/01/2026 1,513
---------------------------------------------------------------------------------------------------------
2,000 James City County, Virginia, EDA, Residential Care Facility, First Mortgage
Revenue Refunding Bonds (Williamsburg Landing, Inc.), Series A, 5.50%
due 9/01/2034 2,010
---------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Face
State Amount Municipal Bonds Value
--------------------------------------------------------------------------------------------------------------------------------
$ 6,750 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds,
Senior-Series A, 5.50% due 8/15/2028 $ 6,942
---------------------------------------------------------------------------------------------------------
24,800 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds,
Senior-Series B, 6.67%* due 8/15/2029 6,448
---------------------------------------------------------------------------------------------------------
1,000 Winchester, Virginia, IDA, Residential Care Facilities, Revenue Bonds
(Westminster-Canterbury), Series A, 5.20% due 1/01/2027 1,005
--------------------------------------------------------------------------------------------------------------------------------
Washington - 0.3% 945 Vancouver, Washington, Housing Authority, Housing Revenue Bonds (Teal Pointe
Apartments Project), AMT, 6% due 9/01/2022 953
---------------------------------------------------------------------------------------------------------
1,250 Vancouver, Washington, Housing Authority, Housing Revenue Bonds (Teal Pointe
Apartments Project), AMT, 6.20% due 9/01/2032 1,261
--------------------------------------------------------------------------------------------------------------------------------
West Virginia - 0.2% 1,000 Princeton, West Virginia, Hospital Revenue Refunding Bonds (Community Hospital
Association Inc. Project), 6% due 5/01/2019 980
--------------------------------------------------------------------------------------------------------------------------------
Wisconsin - 0.7% 695 Milwaukee, Wisconsin, Revenue Bonds (Air Cargo), AMT, 6.50% due 1/01/2025 730
---------------------------------------------------------------------------------------------------------
1,000 Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds
(Eastcastle Place Inc. Project), 6% due 12/01/2024 1,024
---------------------------------------------------------------------------------------------------------
1,800 Wisconsin Health and Educational Facilities Authority, Revenue Refunding Bonds
(Eastcastle Place Inc. Project), 6.125% due 12/01/2034 1,833
---------------------------------------------------------------------------------------------------------
700 Wisconsin State, GO, AMT, Series B, 6.20% due 11/01/2026 (k) 701
--------------------------------------------------------------------------------------------------------------------------------
Wyoming - 0.4% 2,500 Wyoming Student Loan Corporation, Student Loan Revenue Refunding Bonds,
Series A, 6.20% due 6/01/2024 2,667
--------------------------------------------------------------------------------------------------------------------------------
Puerto Rico - 5.8% 15,000 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation
Revenue Bonds, Trust Receipts, Class R, Series B, 8.433% due 7/01/2035 (k)(o) 18,202
---------------------------------------------------------------------------------------------------------
7,500 Puerto Rico Commonwealth Highway and Transportation Authority, Transportation
Revenue Refunding Bonds, Series K, 5% due 7/01/2040 7,578
---------------------------------------------------------------------------------------------------------
2,500 Puerto Rico Electric Power Authority, Power Revenue Bonds, Trust Receipts,
Class R, Series 16 HH, 8.183% due 7/01/2013 (h)(o) 3,004
---------------------------------------------------------------------------------------------------------
8,700 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue
Bonds, Series E, 5.75% due 2/01/2007 (l) 8,915
--------------------------------------------------------------------------------------------------------------------------------
U.S. Virgin 6,250 Virgin Islands Public Finance Authority, Refinery Facilities Revenue Bonds
Islands - 1.0% (Hovensa Refinery), AMT, 6.125% due 7/01/2022 6,850
--------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds (Cost - $925,423) - 148.8% 973,307
--------------------------------------------------------------------------------------------------------------------------------
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
Shares
Held Short-Term Securities Value
--------------------------------------------------------------------------------------------------------------------------------
26,100 Merrill Lynch Institutional Tax-Exempt Fund (j) $ 26,100
--------------------------------------------------------------------------------------------------------------------------------
Total Short-Term Securities (Cost - $26,100) - 4.0% 26,100
--------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $951,523**) - 152.8% 999,407
Liabilities in Excess of Other Assets - (0.3%) (1,996)
Preferred Stock, at Redemption Value - (52.5%) (343,169)
---------
Net Assets Applicable to Common Stock - 100.0% $ 654,242
=========
* Represents a zero coupon bond; the interest rate shown reflects the
effective yield at the time of purchase.
** The cost and unrealized appreciation (depreciation) of investments as of
January 31, 2006, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 951,650
=========
Gross unrealized appreciation $ 51,908
Gross unrealized depreciation (4,151)
---------
Net unrealized appreciation $ 47,757
=========
(a) AMBAC Insured.
(b) Assured Guaranty Insured.
(c) CIFG Insured.
(d) FGIC Insured.
(e) FHA Insured.
(f) FHLMC Collateralized.
(g) FNMA Collateralized.
(h) FSA Insured.
(i) GNMA Collateralized.
(j) 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:
--------------------------------------------------------------------------
Net Dividend
Affiliate Activity Income
--------------------------------------------------------------------------
Merrill Lynch Institutional
Tax-Exempt Fund 23,600 $ 80
--------------------------------------------------------------------------
(k) MBIA Insured.
(l) Prerefunded.
(m) Radian Insured.
(n) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate
changes periodically based upon prevailing market rates.
(o) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(p) Tradable Custodial Receipts (TRACERS).
(q) XL Capital Insured.
MuniYield Fund, Inc.
Schedule of Investments as of January 31, 2006 (In Thousands)
(r) All or portion of security held as collateral in connection with open
financial futures contracts.
o Financial futures contracts sold as of January 31, 2006 were as follows:
-------------------------------------------------------------------------------------------------
Number
of Expiration Face Unrealized
Contracts Issue Date Value Appreciation
-------------------------------------------------------------------------------------------------
1,000 10-Year U.S. Treasury Bond March 2006 $109,201 $763
-------------------------------------------------------------------------------------------------
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our evaluation
of these controls and procedures as of a date within 90 days prior to the
filing date of this report.
2(b) - There were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the period
covered by this report that has materially affected, or is 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.
MuniYield Fund, Inc.
By: /s/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniYield Fund, Inc.
Date: March 20, 2006
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/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniYield Fund, Inc.
Date: March 20, 2006
By: /s/ Donald C. Burke
---------------------------
Donald C. Burke
Chief Financial Officer
MuniYield Fund, Inc.
Date: March 20, 2006