TD reports 100% stake in MYI VRDP shares

Toronto-Dominion affiliates amended their Schedule 13D to update their holdings in BlackRock MuniYield Quality Fund III’s Series W-7 Variable Rate Demand Preferred Shares.

Accepted by SEC EDGAR 03/09/2026 - 05:08 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

Toronto-Dominion affiliates amended their Schedule 13D to update their holdings in BlackRock MuniYield Quality Fund III’s Series W-7 Variable Rate Demand Preferred Shares. Toronto Dominion Investments LLC and its parent entities now report beneficial ownership of 5,877 VRDP Shares, representing 100% of this class.

The change results from a February 23, 2026 reorganization in which BlackRock MuniVest Fund and BlackRock MuniVest Fund II were merged into the issuer. TDI’s holdings in term preferred shares of those funds and 3,564 existing VRDP Shares were exchanged on a cashless basis, adding 2,313 additional VRDP Shares. The filing states these were acquired for investment purposes, with voting and consent rights treated consistently with prior disclosures.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ownership position does Toronto-Dominion report in BlackRock MuniYield Quality Fund III (MYI)?

Toronto-Dominion affiliates report beneficial ownership of 5,877 Series W-7 Variable Rate Demand Preferred Shares, representing 100% of that preferred share class. These holdings are reported jointly by Toronto Dominion Investments LLC and its upstream entities as the sole and shared voting and dispositive power holders.

How did Toronto-Dominion acquire the additional VRDP Shares of MYI?

They received 2,313 additional VRDP Shares in a cashless exchange tied to a reorganization. Existing holdings in Variable Rate Muni Term Preferred Shares of BlackRock MuniVest Fund and BlackRock MuniVest Fund II were exchanged one-for-one into Series W-7 VRDP Shares of BlackRock MuniYield Quality Fund III.

What corporate reorganization affected MYI’s preferred shares held by Toronto-Dominion?

On February 23, 2026, BlackRock MuniVest Fund and BlackRock MuniVest Fund II were reorganized into BlackRock MuniYield Quality Fund III. As part of this transaction, preferred shares of those funds were exchanged into Series W-7 VRDP Shares of MYI, adjusting Toronto-Dominion’s reported holdings.

For what purpose did Toronto-Dominion acquire the additional MYI VRDP Shares?

The filing states that Toronto Dominion Investments LLC acquired the Additional VRDP Shares for investment purposes. The shares were obtained directly from the issuer under the reorganization terms, through a cashless exchange of prior preferred holdings in related BlackRock municipal bond funds.

How were Toronto-Dominion’s existing MYI VRDP holdings treated in the reorganization?

TDI’s existing 3,564 Variable Rate Demand Preferred Shares of MYI were exchanged for an equal number of Series W-7 VRDP Shares. Combined with exchanged term preferred shares, this produced a total reported holding of 5,877 VRDP Shares following completion of the February 2026 reorganization.

Did the voting rights of the additional MYI VRDP Shares change after the reorganization?

The filing clarifies that voting and consent rights on the Additional VRDP Shares will be treated in the same manner as previously described for earlier holdings. This means the new VRDP Shares follow the existing contractual and governance arrangements already outlined for this preferred share class.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

BLACKROCK MUNIYIELD QUALITY FUND III, INC.

(Name of Issuer)

VARIABLE RATE DEMAND PREFERRED SHARES

(Title of Class of Securities)

Toronto-Dominion Investments,
1 Vanderbilt Avenue,
New York, NY, 10017
(212) 827-7488

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

02/23/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

TORONTO DOMINION INVESTMENTS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,877.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,877.00

11

Aggregate amount beneficially owned by each reporting person

5,877.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

TORONTO DOMINION HOLDINGS (U.S.A.), INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,877.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,877.00

11

Aggregate amount beneficially owned by each reporting person

5,877.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

TD GROUP US HOLDINGS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,877.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,877.00

11

Aggregate amount beneficially owned by each reporting person

5,877.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s):

1

Name of reporting person

THE TORONTO-DOMINION BANK

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,877.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,877.00

11

Aggregate amount beneficially owned by each reporting person

5,877.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

100 %

14

Type of Reporting Person (See Instructions)

BK

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: VARIABLE RATE DEMAND PREFERRED SHARES
(b)	Name of Issuer: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
(c)	Address of Issuer's Principal Executive Offices: 100 Bellevue Parkway, Wilmington, DELAWARE , 19809.
Item 1 Comment: This Amendment No. 1 (this "Amendment") amends, as set forth below, the statement on Schedule 13D, dated June 22, 2022 and filed with the SEC on July 5, 2022 (as amended to the date hereof, the "Original Schedule 13D"), for Toronto Dominion Investments LLC ("TDI"), Toronto Dominion Holdings (U.S.A.), Inc. ("TDH"), TD Group US Holdings LLC ("TD GUS"), and The Toronto-Dominion Bank ("TD Bank") (collectively, the "Reporting Persons") with respect to Series W-7 Variable Rate Demand Preferred Shares (CUSIP No. 09254E863) of BlackRock MuniYield Quality Fund III, Inc. (the "Issuer"). This Amendment is being filed as a result of the reorganization of BlackRock MuniVest Fund, Inc. ("MVF") and BlackRock MuniVest Fund II, Inc. ("MVT") into the Issuer on February 23, 2026 (the "Reorganization"), pursuant to which the Issuer exchanged variable rate demand muni fund preferred shares of the Issuer for the shares of the MVF and MVT funds, accordingly, due to the Reorganization, TDI's shareholdings of 1,536 Variable Rate Muni Term Preferred Shares (CUSIP No 09253R881) of MVF and 777 Variable Rate Muni Term Preferred Shares of MVT (CUSIP No 09253T705), which were exchanged for an equal number of Series W-7 Variable Rate Demand Preferred Shares of the Issuer (CUSIP No 09254E863) ("VRDP Shares") in a cashless transaction. Additionally, in connection with the Reorganization, TDI's shareholdings of 3,564 Variable Rate Demand Preferred Shares (CUSIP No. 09254E863) were exchanged for an equal number of VRDP Shares (CUSIP 09254E863) resulting a total TDI shareholding of 5,877 VRDP Shares.
Item 2.	Identity and Background
(a)	Item 2 of the Original Schedule 13D is hereby amended by deleting Schedule I and Schedule II referenced therein and replacing them with Schedule I and Schedule II included with this Amendment.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: "The Reporting Persons received an additional 2,313 VRDP Shares (the "Additional VRDP Shares") from the Issuer in connection with the Reorganization. The Additional VRDP Shares were acquired in exchange TDI's shareholdings of 1,536 Variable Rate Muni Term Preferred Shares (CUSIP No 09253R881) of MVF and 777 Variable Rate Muni Term Preferred Shares of MVT (CUSIP No 09253T705), which were exchanged for an equal number of Series W-7 Variable Rate Demand Preferred Shares of the Issuer (CUSIP No 09254E863) ("VRDP Shares") in a cashless transaction.
Item 4.	Purpose of Transaction
	Item 4 of the Original Schedule 13D is hereby amended by adding the following paragraph at the end thereof: "TDI acquired the Additional VRDP Shares for investment purposes. TDI acquired the Additional VRDP Shares directly from the Company pursuant to the terms of the Reorganization in a cashless transaction."
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Original Schedule 13D is hereby amended by adding the following at the end of the first paragraph thereof: "The voting and consent rights on the Additional VRDP Shares will be treated in the same manner as previously described in this Item 6."
Item 7.	Material to be Filed as Exhibits.
	Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Certificate for TD 99.3 Secretary's Certificate for TD GUS

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

TORONTO DOMINION INVESTMENTS LLC

Signature:	/s/ Christina Petrou
Name/Title:	Christina Petrou/Vice President & Chief Operating Officer
Date:	02/27/2026

TORONTO DOMINION HOLDINGS (U.S.A.), INC.

Signature:	/s/ Christina Petrou
Name/Title:	Christina Petrou/Vice President & Chief Operating Officer
Date:	02/27/2026

TD GROUP US HOLDINGS LLC

Signature:	/s/ Andre Ramos
Name/Title:	Andre Ramos/Executive Vice President and Chief Financial Officer TD AMCB
Date:	02/27/2026

THE TORONTO-DOMINION BANK

Signature:	/s/ Christina Petrou
Name/Title:	Christina Petrou/Vice President
Date:	02/27/2026