SCHEDULE: TD Bank's BlackRock MuniYield Stake Shifts Post-Reorg

Toronto-Dominion entities' beneficial ownership in BlackRock MuniYield New York Quality Fund's preferred shares adjusted to 39.8% following a fund reorganization.

Summary

• This filing is Amendment No. 2 to a Schedule 13D, updating beneficial ownership information for Toronto-Dominion entities.
• The amendment is a result of a reorganization on February 9, 2026, where BlackRock MuniHoldings Quality Fund II, Inc., BlackRock Municipal Income Trust, BlackRock Municipal Income Quality Trust, and BlackRock Municipal Income Trust II were reorganized into BlackRock MuniYield New York Quality Fund, Inc. (the Issuer).
• The reorganization involved the Issuer exchanging variable rate muni fund preferred shares for shares of the merging funds.
• Due to this reorganization, the ownership percentage of the preferred share class held by the Reporting Persons has changed.
• The Reporting Persons include Toronto Dominion Investments, Inc., Toronto Dominion Holdings (U.S.A.), Inc., TD Group US Holdings LLC, and The Toronto-Dominion Bank.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this filing as neutral, as it is a factual disclosure of a change in beneficial ownership percentage resulting from a fund reorganization, rather than an announcement of performance, new strategic initiatives, or significant positive/negative events.

Positives

• The filing confirms that during the last five years, The Toronto-Dominion Bank and its affiliates, and to the best knowledge of The TD Entities, none of their executive officers, directors, or controlling persons, have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or were a party to a civil proceeding subject to a judgment, decree, or final order related to federal or state securities laws.

Future Outlook

The filing does not provide specific forward-looking statements or guidance regarding the future performance of BlackRock MuniYield New York Quality Fund, Inc. or the investment strategy of the Toronto-Dominion entities beyond the disclosure of the reorganization event.

Management Comments

• Christina Petrou, Vice President & Chief Operating Officer of Toronto Dominion Investments, Inc. and Toronto Dominion Holdings USA INC, and Vice President of Toronto Dominion Bank, certified the information as true, complete, and correct to the best of her knowledge and belief.
• Andre Ramos, Executive Vice President and Chief Financial Officer TD AMCB of TD GROUP US HOLDINGS LLC, certified the information as true, complete, and correct to the best of his knowledge and belief.

Industry Context

StockSavvy.ai notes that reorganizations and mergers of closed-end funds, such as those involving BlackRock MuniHoldings Quality Fund II, Inc., BlackRock Municipal Income Trust, BlackRock Municipal Income Quality Trust, and BlackRock Municipal Income Trust II into BlackRock MuniYield New York Quality Fund, Inc., are common strategies within the asset management industry. These actions often aim to achieve economies of scale, streamline operations, reduce expenses, or optimize portfolio management, which can lead to shifts in beneficial ownership percentages for significant holders like Toronto-Dominion entities.

Corporate Governance

Legal Proceedings

• During the last five years, The Toronto-Dominion Bank and its affiliates, and to the best knowledge of The TD Entities, none of their executive officers, directors, or controlling persons, have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or were a party to a civil proceeding subject to a judgment, decree, or final order related to federal or state securities laws.

Stakeholder Impact

• Shareholders of BlackRock MuniHoldings Quality Fund II, Inc., BlackRock Municipal Income Trust, BlackRock Municipal Income Quality Trust, and BlackRock Municipal Income Trust II are impacted by the reorganization of their funds into BlackRock MuniYield New York Quality Fund, Inc., potentially affecting their investment structure and holdings.
• The Toronto-Dominion entities, as significant beneficial owners, have their ownership percentage in the preferred share class adjusted due to the fund reorganization.

Key Dates

Keywords

BlackRock, MuniYield, Preferred Shares, TD Bank, Schedule 13D, Fund Reorganization, Variable Rate Demand Preferred Shares, Beneficial Ownership