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: Anne F. Ackerley, 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: 04/30/2011
Date of reporting period: 07/31/2010
Item 1 – Schedule of Investments
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Schedule of Investments July 31, 2010 (Unaudited) |
BlackRock MuniEnhanced Fund, Inc. (MEN) |
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(Percentages shown are based on Net Assets) |
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Municipal Bonds |
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Par |
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Value |
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Alabama — 1.3% |
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County of Jefferson Alabama, RB, |
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5.50%, 1/01/22 |
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$ |
2,750 |
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$ |
2,382,490 |
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4.75%, 1/01/25 |
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2,200 |
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1,727,066 |
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4,109,556 |
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Alaska — 0.4% |
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Borough of Matanuska-Susitna Alaska, |
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1,200 |
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1,390,200 |
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Arizona — 1.5% |
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State of Arizona, COP, Department of |
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5.00%, 10/01/27 |
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3,250 |
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3,346,168 |
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5.25%, 10/01/28 |
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1,000 |
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1,039,770 |
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5.00%, 10/01/29 |
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400 |
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406,148 |
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4,792,086 |
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California — 21.2% |
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Alameda Corridor Transportation |
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5.65%, 10/01/24 |
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10,185 |
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8,384,699 |
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5.57%, 10/01/25 |
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6,000 |
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4,890,900 |
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Anaheim Public Financing Authority |
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5,000 |
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5,806,150 |
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Antelope Valley Community College |
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600 |
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617,334 |
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Arcadia Unified School District |
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1,600 |
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239,344 |
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Cabrillo Community College District |
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2,400 |
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420,456 |
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California Health Facilities Financing |
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550 |
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575,339 |
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Municipal Bonds |
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Par |
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Value |
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California (continued) |
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California State University, RB, |
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$ |
1,600 |
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$ |
1,615,024 |
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California State University, Refunding |
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2,000 |
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2,019,240 |
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Chino Valley Unified School District, GO, |
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850 |
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868,352 |
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City of Redding California, COP, |
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1,420 |
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1,457,871 |
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Fresno Unified School District California, |
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900 |
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922,968 |
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Los Angeles Department of Water & |
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5,160 |
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5,371,921 |
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Metropolitan Water District of Southern |
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5.00%, 10/01/29 |
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2,965 |
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3,075,535 |
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5.00%, 10/01/36 |
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1,655 |
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1,701,241 |
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Norco Redevelopment Agency |
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5,000 |
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4,657,550 |
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Orange County Sanitation District, COP, |
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5.00%, 2/01/30 |
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1,500 |
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1,585,140 |
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5.00%, 2/01/31 |
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900 |
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946,872 |
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Poway Redevelopment Agency |
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1,750 |
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1,586,900 |
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Sacramento Unified School District |
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4,150 |
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4,238,686 |
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San Mateo County Community College |
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12,740 |
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4,145,851 |
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State of California, GO: |
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5.13%, 6/01/27 |
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20 |
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20,063 |
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5.13%, 6/01/31 |
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60 |
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60,022 |
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Portfolio Abbreviations |
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To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:
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AGC |
Assured Guaranty Corp. |
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AGM |
Assured Guaranty Municipal Corp. |
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AMBAC |
American Municipal Bond Assurance Corp. |
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AMT |
Alternative Minimum Tax (subject to) |
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ARB |
Airport Revenue Bonds |
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BHAC |
Berkshire Hathaway Assurance Corp. |
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CAB |
Capital Appreciation Bonds |
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COP |
Certificates of Participation |
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EDA |
Economic Development Authority |
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ERB |
Education Revenue Bonds |
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FGIC |
Financial Guaranty Insurance Co. |
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GO |
General Obligation Bonds |
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HDA |
Housing Development Authority |
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HFA |
Housing Finance Agency |
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IDA |
Industrial Development Authority |
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ISD |
Independent School District |
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NPFGC |
National Public Finance Guarantee Corp. |
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PSF-GTD |
Permanent School Fund Guaranteed |
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RB |
Revenue Bonds |
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S/F |
Single Family |
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BLACKROCK MUNIENHANCED FUND, INC. |
JULY 31, 2010 |
1 |
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Schedule of Investments (continued) |
BlackRock MuniEnhanced Fund, Inc. (MEN) |
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(Percentages shown are based on Net Assets) |
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Municipal Bonds |
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Par |
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Value |
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California (concluded) |
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Stockton Public Financing Authority |
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$ |
6,145 |
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$ |
6,186,356 |
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Ventura County Community College |
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2,325 |
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2,394,401 |
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West Basin Municipal Water District |
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5,035 |
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5,185,546 |
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68,973,761 |
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Colorado — 0.7% |
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Colorado Health Facilities Authority, RB, |
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5.50%, 12/01/27 |
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1,200 |
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1,129,620 |
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5.50%, 12/01/33 |
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675 |
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616,288 |
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Colorado Housing & Finance Authority, |
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375 |
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398,678 |
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2,144,586 |
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District of Columbia — 1.7% |
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District of Columbia, RB, Series B-1 |
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5,530 |
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5,508,931 |
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Florida — 13.4% |
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Broward County School Board Florida, |
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1,600 |
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1,652,224 |
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City of Tallahassee Florida, RB (NPFGC), |
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4,000 |
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4,103,880 |
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Collier County School Board, COP |
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3,000 |
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3,129,270 |
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County of Broward Florida, RB, Series A, |
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850 |
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889,576 |
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County of Duval Florida, COP, Master |
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3,000 |
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3,017,310 |
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County of Miami-Dade Florida, GO, |
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1,400 |
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1,513,512 |
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County of Miami-Dade Florida, RB, |
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4,950 |
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5,092,857 |
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County of Miami-Dade Florida, |
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9,900 |
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9,643,590 |
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County of Orange Florida, Refunding RB, |
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4,200 |
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4,255,524 |
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Hillsborough County Aviation Authority |
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1,750 |
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1,772,365 |
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Miami-Dade County School Board, COP, |
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5.25%, 5/01/31 |
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1,800 |
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1,869,498 |
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5.00%, 5/01/33 |
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2,000 |
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2,003,660 |
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Orange County School Board, COP, |
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2,000 |
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2,016,500 |
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Sarasota County Public Hospital District, |
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275 |
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286,231 |
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Municipal Bonds |
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Par |
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Value |
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Florida (concluded) |
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South Florida Water Management |
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$ |
2,000 |
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$ |
2,121,740 |
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43,367,737 |
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Georgia — 3.9% |
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Augusta-Richmond County Georgia, RB |
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2,300 |
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2,394,921 |
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Gwinnett County Hospital Authority, |
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825 |
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844,223 |
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Municipal Electric Authority of Georgia, |
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7,475 |
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9,607,991 |
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12,847,135 |
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Illinois — 20.8% |
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Chicago Board of Education Illinois, GO, |
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(AGM), 5.50%, 12/01/31 |
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3,000 |
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3,435,390 |
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Chicago School Reform Board, |
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1,000 |
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1,139,980 |
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City of Chicago Illinois, ARB, General, |
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(AGM), 5.75%, 1/01/23 |
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5,670 |
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5,937,794 |
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(Syncora), 6.00%, 1/01/29 |
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|
2,500 |
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2,587,075 |
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City of Chicago Illinois, RB, Series A |
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2,000 |
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2,044,680 |
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City of Chicago Illinois, Refunding RB, |
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9,000 |
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9,251,280 |
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County of Cook Illinois, GO, Capital |
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2,460 |
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2,735,397 |
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County of Cook Illinois, GO, Refunding, |
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1,350 |
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1,422,333 |
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Illinois Municipal Electric Agency, RB, |
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1,000 |
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1,027,130 |
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Illinois Sports Facilities Authority, RB, |
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20,120 |
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21,020,772 |
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Regional Transportation Authority, RB, |
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10,115 |
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12,539,667 |
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State of Illinois, RB, Build Illinois, |
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4,275 |
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4,418,683 |
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67,560,181 |
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Indiana — 0.1% |
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Indiana Municipal Power Agency, RB, |
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|
400 |
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426,756 |
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Iowa — 1.9% |
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Iowa Finance Authority, RB, Series A |
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5,725 |
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6,055,103 |
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Louisiana — 1.7% |
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Louisiana Public Facilities Authority, |
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1,250 |
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1,414,187 |
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Louisiana State Transportation |
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|
1,085 |
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|
437,776 |
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2 |
BLACKROCK MUNIENHANCED FUND, INC. |
JULY 31, 2010 |
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Schedule of Investments (continued) |
BlackRock MuniEnhanced Fund, Inc. (MEN) |
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(Percentages shown are based on Net Assets) |
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Municipal Bonds |
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Par |
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Value |
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Louisiana (concluded) |
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Rapides Finance Authority Louisiana, |
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$ |
2,250 |
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$ |
1,981,462 |
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State of Louisiana, RB, Series A |
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1,740 |
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1,777,480 |
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5,610,905 |
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Maryland — 0.4% |
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|
|
|
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Maryland Community Development |
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1,200 |
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|
1,273,884 |
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Massachusetts — 3.9% |
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Massachusetts HFA, RB, AMT (AGM): |
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Rental Mortgage, Series F, 5.25%, |
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5,300 |
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|
5,307,420 |
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S/F Housing, Series 128, 4.80%, |
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|
1,600 |
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|
1,583,200 |
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|
Massachusetts HFA, Refunding RB, |
|
|
2,870 |
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|
2,916,465 |
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Massachusetts Water Resources |
|
|
2,700 |
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|
2,841,588 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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12,648,673 |
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Michigan — 4.9% |
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|
|
|
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|
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City of Detroit Michigan, RB, Series B: |
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|
|
|
|
|
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Second Lien (AGM), 6.25%, |
|
|
400 |
|
|
438,624 |
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|
Second Lien (AGM), 7.00%, |
|
|
200 |
|
|
231,140 |
|
|
Senior Lien (AGM), 7.50%, 7/01/33 |
|
|
700 |
|
|
842,849 |
|
|
System, Second Lien (NPFGC), |
|
|
3,600 |
|
|
3,548,412 |
|
|
City of Detroit Michigan, Refunding RB, |
|
|
2,500 |
|
|
2,671,800 |
|
|
Michigan Higher Education Student |
|
|
1,500 |
|
|
1,517,640 |
|
|
Michigan Strategic Fund, RB, Detroit |
|
|
4,300 |
|
|
4,133,203 |
|
|
Michigan Strategic Fund, Refunding RB, |
|
|
|
|
|
|
|
|
Pollution, Series C, 5.65%, 9/01/29 |
|
|
1,410 |
|
|
1,412,129 |
|
|
Project, Series A, 5.50%, 6/01/30 |
|
|
1,300 |
|
|
1,267,734 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,063,531 |
|
|
|
|
|
|
|
|
|
|
|
Minnesota — 0.9% |
|
|
|
|
|
|
|
|
City of Minneapolis Minnesota, |
|
|
2,500 |
|
|
2,811,325 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Mississippi — 0.9% |
|
|
|
|
|
|
|
|
Mississippi Development Bank Special |
|
$ |
2,800 |
|
$ |
2,850,568 |
|
|
|
|
|
|
|
|
|
|
|
Nevada — 5.2% |
|
|
|
|
|
|
|
|
City of Carson City Nevada, RB, Carson- |
|
|
3,100 |
|
|
2,900,143 |
|
|
City of Las Vegas Nevada, GO, Limited |
|
|
850 |
|
|
941,273 |
|
|
County of Clark Nevada, RB: |
|
|
|
|
|
|
|
|
Las Vegas-McCarran International |
|
|
3,800 |
|
|
3,876,228 |
|
|
Southwest Gas Corp. Project, Series |
|
|
75 |
|
|
62,499 |
|
|
Southwest Gas Corp. Project, Series |
|
|
1,300 |
|
|
1,176,513 |
|
|
Subordinate Lien, Series A-2 |
|
|
1,500 |
|
|
1,510,005 |
|
|
Subordinate Lien, Series A-2 |
|
|
3,200 |
|
|
3,204,384 |
|
|
System, Subordinate Lien, Series C |
|
|
1,475 |
|
|
1,545,195 |
|
|
Las Vegas Valley Water District, GO, |
|
|
1,600 |
|
|
1,681,120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,897,360 |
|
|
|
|
|
|
|
|
|
|
|
New Jersey — 9.1% |
|
|
|
|
|
|
|
|
New Jersey EDA, RB: |
|
|
|
|
|
|
|
|
Cigarette Tax (Radian), 5.50%, |
|
|
600 |
|
|
584,988 |
|
|
Cigarette Tax (Radian), 5.75%, |
|
|
305 |
|
|
301,852 |
|
|
Motor Vehicle Surcharge, Series A |
|
|
9,325 |
|
|
9,469,631 |
|
|
Motor Vehicle Surcharge, Series A |
|
|
7,800 |
|
|
7,948,824 |
|
|
School Facilities Construction, |
|
|
2,250 |
|
|
2,360,723 |
|
|
School Facilities Construction, |
|
|
2,000 |
|
|
2,274,860 |
|
|
New Jersey EDA, Refunding RB, School |
|
|
|
|
|
|
|
|
(AGM), 5.50%, 9/01/25 |
|
|
5,000 |
|
|
5,868,100 |
|
|
(NPFGC), 5.50%, 9/01/28 |
|
|
815 |
|
|
912,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,721,908 |
|
|
|
|
|
|
|
|
|
|
|
New York — 3.3% |
|
|
|
|
|
|
|
|
Erie County Industrial Development |
|
|
1,500 |
|
|
1,646,445 |
|
|
Metropolitan Transportation Authority, |
|
|
4,000 |
|
|
4,668,760 |
|
|
New York City Transitional Finance |
|
|
2,750 |
|
|
3,018,675 |
|
|
|
|
|
|
|
|
|
|
BLACKROCK MUNIENHANCED FUND, INC. |
JULY 31, 2010 |
3 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
New York (concluded) |
|
|
|
|
|
|
|
|
New York State Dormitory Authority, |
|
$ |
1,200 |
|
$ |
1,365,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,699,804 |
|
|
|
|
|
|
|
|
|
|
|
Ohio — 0.3% |
|
|
|
|
|
|
|
|
Ohio Higher Educational Facility |
|
|
1,025 |
|
|
1,034,533 |
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania — 1.3% |
|
|
|
|
|
|
|
|
Pennsylvania HFA, Refunding RB, Series |
|
|
1,500 |
|
|
1,520,385 |
|
|
Pennsylvania Turnpike Commission, RB, |
|
|
3,000 |
|
|
2,161,710 |
|
|
Philadelphia School District, GO, |
|
|
400 |
|
|
432,948 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,115,043 |
|
|
|
|
|
|
|
|
|
|
|
Puerto Rico — 1.9% |
|
|
|
|
|
|
|
|
Puerto Rico Sales Tax Financing Corp., |
|
|
3,200 |
|
|
3,532,928 |
|
|
Puerto Rico Sales Tax Financing Corp., |
|
|
|
|
|
|
|
|
CAB, Series A (NPFGC), 5.70%, |
|
|
8,500 |
|
|
1,279,165 |
|
|
First Sub-Series C, 6.00%, 8/01/39 |
|
|
1,180 |
|
|
1,273,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,086,009 |
|
|
|
|
|
|
|
|
|
|
|
Rhode Island — 2.2% |
|
|
|
|
|
|
|
|
Providence Public Building Authority |
|
|
4,345 |
|
|
4,486,560 |
|
|
Rhode Island Health & Educational |
|
|
2,375 |
|
|
2,631,144 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,117,704 |
|
|
|
|
|
|
|
|
|
|
|
Tennessee — 1.8% |
|
|
|
|
|
|
|
|
Knox County Health Educational & |
|
|
600 |
|
|
114,162 |
|
|
Metropolitan Government of Nashville & |
|
|
5,000 |
|
|
5,698,350 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,812,512 |
|
|
|
|
|
|
|
|
|
|
|
Texas — 13.0% |
|
|
|
|
|
|
|
|
City of Houston Texas, Refunding RB, |
|
|
|
|
|
|
|
|
6.00%, 11/15/35 |
|
|
2,100 |
|
|
2,416,995 |
|
|
5.38%, 11/15/38 |
|
|
1,350 |
|
|
1,469,664 |
|
|
Dallas-Fort Worth International Airport |
|
|
13,000 |
|
|
13,106,470 |
|
|
Lewisville ISD Texas, GO, Refunding, |
|
|
4,475 |
|
|
2,283,906 |
|
|
|
|
|
|
|
|
|
|
|
Municipal Bonds |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Texas (concluded) |
|
|
|
|
|
|
|
|
Mansfield ISD Texas, GO, School |
|
$ |
1,725 |
|
$ |
1,823,394 |
|
|
Matagorda County Navigation District |
|
|
2,400 |
|
|
2,364,840 |
|
|
North Harris County Regional Water |
|
|
255 |
|
|
260,845 |
|
|
North Texas Tollway Authority, RB (AGC), |
|
|
|
|
|
|
|
|
Series K-1, 5.75%, 1/01/38 |
|
|
3,800 |
|
|
4,138,010 |
|
|
Series K-2, 6.00%, 1/01/38 |
|
|
4,015 |
|
|
4,471,706 |
|
|
North Texas Tollway Authority, |
|
|
|
|
|
|
|
|
Series A, 6.00%, 1/01/28 |
|
|
2,795 |
|
|
3,055,298 |
|
|
System, (NPFGC), 5.75%, 1/01/40 |
|
|
1,600 |
|
|
1,665,504 |
|
|
Texas State Turnpike Authority, RB, First |
|
|
5,150 |
|
|
5,202,221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
42,258,853 |
|
|
|
|
|
|
|
|
|
|
|
Utah — 1.6% |
|
|
|
|
|
|
|
|
Utah Transit Authority, RB, Series A |
|
|
5,000 |
|
|
5,289,650 |
|
|
|
|
|
|
|
|
|
|
|
Virginia — 0.6% |
|
|
|
|
|
|
|
|
Virginia HDA, RB, Sub-Series H-1 |
|
|
1,955 |
|
|
1,970,953 |
|
|
|
|
|
|
|
|
|
|
|
Washington — 1.4% |
|
|
|
|
|
|
|
|
Washington Health Care Facilities |
|
|
|
|
|
|
|
|
5.00%, 10/01/39 |
|
|
900 |
|
|
907,497 |
|
|
5.25%, 10/01/39 |
|
|
625 |
|
|
642,125 |
|
|
Washington Health Care Facilities |
|
|
2,800 |
|
|
2,938,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,487,998 |
|
|
|
|
|
|
|
|
|
|
|
Wisconsin — 1.1% |
|
|
|
|
|
|
|
|
Wisconsin Health & Educational |
|
|
1,375 |
|
|
1,398,526 |
|
|
Wisconsin Housing & EDA, Refunding |
|
|
1,910 |
|
|
2,064,175 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,462,701 |
|
|
|
|
|
|
|
|
|
|
|
Total Municipal Bonds – 122.4% |
|
|
|
|
|
397,389,946 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||
|
|
|
|
|
|
|
|
|
|
Municipal
Bonds Transferred to Tender |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arizona — 0.4% |
|
|
|
|
|
|
|
|
Phoenix Civic Improvement Corp., RB, |
|
|
1,200 |
|
|
1,264,368 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4 |
BLACKROCK MUNIENHANCED FUND, INC. |
JULY 31, 2010 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (continued) |
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Municipal
Bonds Transferred to Tender |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
California — 5.3% |
|
|
|
|
|
|
|
|
Anaheim Public Financing Authority |
|
$ |
959 |
|
$ |
964,136 |
|
|
Los Angeles Community College District |
|
|
2,500 |
|
|
2,565,300 |
|
|
Orange County Sanitation District, COP |
|
|
7,458 |
|
|
7,610,215 |
|
|
San Diego Community College District |
|
|
404 |
|
|
430,414 |
|
|
San Diego County Water Authority, COP, |
|
|
2,810 |
|
|
2,917,679 |
|
|
Tamalpais Union High School District |
|
|
1,605 |
|
|
1,665,428 |
|
|
University of California, RB, Series O, |
|
|
840 |
|
|
948,663 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17,101,835 |
|
|
|
|
|
|
|
|
|
|
|
Colorado — 0.3% |
|
|
|
|
|
|
|
|
Colorado Health Facilities Authority, |
|
|
900 |
|
|
959,800 |
|
|
|
|
|
|
|
|
|
|
|
District of Columbia — 1.0% |
|
|
|
|
|
|
|
|
District of Columbia, RB, Series A, |
|
|
1,005 |
|
|
1,138,173 |
|
|
District of Columbia Water & Sewer |
|
|
1,770 |
|
|
2,000,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,138,509 |
|
|
|
|
|
|
|
|
|
|
|
Florida — 5.9% |
|
|
|
|
|
|
|
|
City of Tallahassee Florida, RB (NPFGC), |
|
|
7,500 |
|
|
7,644,300 |
|
|
Florida State Board of Education, GO, |
|
|
1,349 |
|
|
1,407,058 |
|
|
Miami-Dade County School Board, COP, |
|
|
10,000 |
|
|
10,018,300 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,069,658 |
|
|
|
|
|
|
|
|
|
|
|
Georgia — 5.5% |
|
|
|
|
|
|
|
|
City of Atlanta Georgia, RB, General, |
|
|
17,356 |
|
|
17,837,331 |
|
|
|
|
|
|
|
|
|
|
|
Illinois — 0.6% |
|
|
|
|
|
|
|
|
Illinois State Toll Highway Authority, RB, |
|
|
1,880 |
|
|
2,052,803 |
|
|
|
|
|
|
|
|
|
|
|
Louisiana — 1.7% |
|
|
|
|
|
|
|
|
State of Louisiana, RB, Series A (AGM), |
|
|
5,400 |
|
|
5,576,580 |
|
|
|
|
|
|
|
|
|
|
|
Massachusetts — 3.4% |
|
|
|
|
|
|
|
|
Massachusetts School Building |
|
|
10,600 |
|
|
11,118,613 |
|
|
|
|
|
|
|
|
|
|
|
Nevada — 3.4% |
|
|
|
|
|
|
|
|
City of Las Vegas Nevada, GO, Limited |
|
|
3,778 |
|
|
4,169,287 |
|
|
|
|
|
|
|
|
|
|
|
Municipal
Bonds Transferred to Tender |
|
Par |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
Nevada (concluded) |
|
|
|
|
|
|
|
|
Clark County Water Reclamation |
|
|
|
|
|
|
|
|
5.50%, 7/01/29 |
|
$ |
4,499 |
|
$ |
4,979,269 |
|
|
5.75%, 7/01/34 |
|
|
1,829 |
|
|
2,041,381 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,189,937 |
|
|
|
|
|
|
|
|
|
|
|
New Hampshire — 2.4% |
|
|
|
|
|
|
|
|
New Hampshire Health & Education |
|
|
7,390 |
|
|
7,709,470 |
|
|
|
|
|
|
|
|
|
|
|
New York — 1.9% |
|
|
|
|
|
|
|
|
New York City Municipal Water Finance |
|
|
1,260 |
|
|
1,426,407 |
|
|
New York State Thruway Authority, RB, |
|
|
3,100 |
|
|
3,210,484 |
|
|
Triborough Bridge & Tunnel Authority, |
|
|
1,300 |
|
|
1,404,104 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,040,995 |
|
|
|
|
|
|
|
|
|
|
|
Ohio — 0.2% |
|
|
|
|
|
|
|
|
State of Ohio, RB, Cleveland Clinic |
|
|
580 |
|
|
618,993 |
|
|
|
|
|
|
|
|
|
|
|
South Carolina — 2.7% |
|
|
|
|
|
|
|
|
Charleston Educational Excellence |
|
|
|
|
|
|
|
|
5.25%, 12/01/28 |
|
|
3,120 |
|
|
3,282,583 |
|
|
5.25%, 12/01/29 |
|
|
2,765 |
|
|
2,894,264 |
|
|
5.25%, 12/01/30 |
|
|
1,010 |
|
|
1,053,299 |
|
|
South Carolina State Public Service |
|
|
1,275 |
|
|
1,394,314 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,624,460 |
|
|
|
|
|
|
|
|
|
|
|
Texas — 0.7% |
|
|
|
|
|
|
|
|
Clear Creek ISD Texas, GO, Refunding, |
|
|
2,200 |
|
|
2,388,232 |
|
|
|
|
|
|
|
|
|
|
|
Virginia — 0.1% |
|
|
|
|
|
|
|
|
Fairfax County IDA Virginia, Refunding |
|
|
350 |
|
|
372,554 |
|
|
|
|
|
|
|
|
|
|
|
Washington — 1.3% |
|
|
|
|
|
|
|
|
Central Puget Sound Regional Transit |
|
|
4,004 |
|
|
4,241,009 |
|
|
|
|
|
|
|
|
|
|
|
Wisconsin — 0.4% |
|
|
|
|
|
|
|
|
Wisconsin Health & Educational |
|
|
1,430 |
|
|
1,470,683 |
|
|
|
|
|
|
|
|
|
|
|
Total
Municipal Bonds Transferred to |
|
|
|
|
|
120,775,830 |
|
|
|
|
|
|
|
|
|
|
|
Total
Long-Term Investments |
|
|
|
|
|
518,165,776 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
BLACKROCK MUNIENHANCED FUND, INC. |
JULY 31, 2010 |
5 |
|
|
|
|
|
|
|
|
|
|
Schedule of Investments (concluded) |
BlackRock MuniEnhanced Fund, Inc. (MEN) |
|
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
|
Short-Term Securities |
|
Shares |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
|
FFI Institutional Tax-Exempt Fund, |
|
|
6,347,074 |
|
$ |
6,347,074 |
|
|
|
|
|
|
|
|
|
|
|
Total
Short-Term Securities |
|
|
|
|
|
6,347,074 |
|
|
|
|
|
|
|
|
|
|
|
Total
Investments |
|
|
|
|
|
524,512,850 |
|
|
Other Assets Less Liabilities – 1.3% |
|
|
|
|
|
4,282,235 |
|
|
Liability
for Trust Certificates, Including Interest |
|
|
|
|
|
(61,660,473 |
) |
|
Preferred Shares, at Redemption Value – (43.9)% |
|
|
|
|
|
(142,594,210 |
) |
|
|
|
|
|
|
|
|
|
|
Net Assets Applicable to Common Shares – 100.0% |
|
|
|
|
$ |
324,540,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
The cost and unrealized appreciation (depreciation) of investments as of July 31, 2010, as computed for federal income tax purposes, were as follows: |
|
|
|
|
|
|
|
Aggregate cost |
|
$ |
449,979,277 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
18,816,958 |
|
|
Gross unrealized depreciation |
|
|
(5,866,273 |
) |
|
|
|
|
|
|
|
Net unrealized appreciation |
|
$ |
12,950,685 |
|
|
|
|
|
|
|
|
|
|
|
(a) |
Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown reflects the current yield as of report date. |
|
|
|
|
(b) |
Represents a zero-coupon bond. Rate shown reflects the current yield as of report date. |
|
|
|
|
(c) |
US government securities, held in escrow, are used to pay interest on this security as well as to retire the bond in full at the date indicated, typically at a premium to par. |
|
|
|
|
(d) |
Variable rate security. Rate shown is as of report date. |
|
|
|
|
(e) |
Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction. |
|
|
|
|
(f) |
Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, are as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliate |
|
Shares Held |
|
Net Activity |
|
Shares Held at |
|
Income |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
FFI Institutional |
|
|
7,207,423 |
|
|
(860,349 |
) |
|
6,347,074 |
|
$ |
3,116 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(g) |
Represents the current yield as of report date. |
|
|
|
|
• |
Financial futures contracts sold as of July 31, 2010 were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts |
|
Issue |
|
Expiration |
|
Notional |
|
Unrealized |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
65 |
|
10-Year
U.S. |
|
September |
|
$ |
(7,907,514 |
) |
$ |
(140,299 |
) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
• |
Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivatives, which are as follows: |
|
|
|
|
|
|
|
• |
Level 1 — price quotations in active markets/exchanges for identical assets and liabilities |
|
|
|
|
|
|
• |
Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs) |
|
|
|
|
|
|
• |
Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments and derivatives) |
|
|
|
|
|
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report. |
||
|
|
|
|
|
The following tables summarize the inputs used as of July 31, 2010 in determining the fair valuation of the Fund’s investments and derivatives: |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Valuation Inputs |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-Term |
|
|
— |
|
$ |
518,165,776 |
|
|
— |
|
$ |
518,165,776 |
|
|
Short-Term |
|
$ |
6,347,074 |
|
|
— |
|
|
— |
|
|
6,347,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total |
|
$ |
6,347,074 |
|
$ |
518,165,776 |
|
|
— |
|
$ |
524,512,850 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 |
See above Schedule of Investments for values in each state or political subdivision. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Derivative Financial Instruments2 |
|||||||||||||
|
|
|||||||||||||
|
Valuation |
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
|
||||
|
|
|
|
|
|
|
|
|
|
|
||||
|
Liabilities: |
|
$ |
(140,299 |
) |
|
— |
|
|
— |
|
$ |
(140,299 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2 |
Derivative financial instruments are financial futures contracts which are shown at the unrealized appreciation/depreciation on the instrument. |
|
|
|
|
|
|
||
|
6 |
BLACKROCK MUNIENHANCED FUND, INC. |
JULY 31, 2010 |
|
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/ Anne F. Ackerley | ||
| Anne F. Ackerley | |||
| Chief Executive Officer of | |||
| BlackRock MuniEnhanced Fund, Inc. | |||
| Date: September 27, 2010 | |||
| Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. | |||
| By: | /s/ Anne F. Ackerley | ||
| Anne F. Ackerley | |||
| Chief Executive Officer (principal executive officer) of | |||
| BlackRock MuniEnhanced Fund, Inc. | |||
| Date: September 27, 2010 | |||
| By: | /s/ Neal J. Andrews | ||
| Neal J. Andrews | |||
| Chief Financial Officer (principal financial officer) of | |||
| BlackRock MuniEnhanced Fund, Inc. | |||
| Date: September 27, 2010 | |||