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 811-6692
Name of Fund: MuniYield California Insured 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 California Insured 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: 05/01/06 - 07/31/06
Item 1 - Schedule of Investments
MuniYield California Insured Fund, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
Amount Municipal Bonds Value
California - 143.0% $ 7,000 ABAG Finance Authority for Nonprofit Corporations, California, COP (Children's
Hospital Medical Center), 6% due 12/01/2029 (a) $ 7,489
2,350 Alameda, California, GO, 5% due 8/01/2033 (f) 2,427
5,665 Alhambra, California, Unified School District, GO (Election of 2004), Series A,
5% due 8/01/2029 (b) 5,873
3,580 Anaheim, California, Public Financing Authority, Electric System Distribution
Facilities Revenue Bonds, Series A, 5% due 10/01/2031 (e) 3,684
2,400 Anaheim, California, Union High School District, GO (Election of 2002), 5% due
8/01/2027 (f) 2,474
3,675 Bakersfield, California, COP, Refunding (Convention Center Expansion Project), 5.80%
due 4/01/2007 (f)(g) 3,764
255 Bay Area Government Association, California, Tax Allocation Revenue Refunding Bonds
(California Redevelopment Agency Pool), Series A, 6% due 12/15/2024 (e) 257
2,700 Bay Area Toll Authority, California, Toll Bridge Revenue Refunding Bonds (San Francisco
Bay Area), Series F, 5% due 4/01/2031 2,800
3,990 Brentwood, California, Infrastructure Refinancing Authority, Infrastructure Revenue
Refunding Bonds, Series A, 5.20% due 9/02/2029 (e) 4,153
3,215 California Community College Financing Authority, Lease Revenue Bonds, Series A,
5.95% due 12/01/2009 (f)(g) 3,497
1,100 California Community College Financing Authority, Lease Revenue Bonds, Series A, 6%
due 12/01/2009 (f)(g) 1,198
5,000 California Educational Facilities Authority Revenue Bonds (University of San Diego),
Series A, 5.50% due 10/01/2032 5,281
11,565 California Educational Facilities Authority, Student Loan Revenue Bonds (CalEdge
Loan Program), AMT, 5.55% due 4/01/2028 (a) 11,951
2,140 California HFA, Home Mortgage Revenue Bonds, AMT, Series E, 5% due 2/01/2024 (b) 2,164
2,500 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT, Series N, 3.65% due
8/01/2021 (e)(i) 2,500
75 California HFA, Home Mortgage Revenue Bonds, VRDN, AMT, Series R, 3.64% due
8/01/2023 (a)(i) 75
14,600 California HFA, Home Mortgage Revenue Bonds, VRDN, Series F, 3.65% due
2/01/2033 (a)(i) 14,600
2,750 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente),
Series A, 5.50% due 6/01/2022 (e)(j) 2,881
440 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-
Backed Securities Program), AMT, Series A, 6.35% due 12/01/2029 (c)(d) 444
210 California Rural Home Mortgage Finance Authority, S/F Mortgage Revenue Bonds (Mortgage-
Backed Securities Program), AMT, Series B, 6.25% due 12/01/2031 (d) 214
Portfolio Abbreviations
To simplify the listings of MuniYield California Insured 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
GO General Obligation Bonds
HFA Housing Finance Agency
RIB Residual Interest Bonds
RITR Residual Interest Trust Receipts
ROLS Reset Option Long Securities
S/F Single-Family
VRDN Variable Rate Demand Notes
MuniYield California Insured Fund, Inc.
Schedule of Investments as of July 31, 2006 (concluded) (in Thousands)
Face
Amount Municipal Bonds Value
California $ 12,680 California State Department of Veteran Affairs, Home Purpose Revenue Refunding
(concluded) Bonds, Series A, 5.35% due 12/01/2027 (a) $ 13,373
860 California State, GO, 6.25% due 10/01/2019 (f) 863
9,935 California State, GO, Refunding, DRIVERS, AMT, Series 239, 7.424% due 12/01/2032 (a)(h) 10,403
3,000 California State, GO, Refunding, Series BX, 5.50% due 12/01/2031 (e) 3,033
4,530 California State Public Works Board, Lease Revenue Bonds (Department of Corrections-Ten
Administrative Segregation Housing Units), Series A, 5.25% due 3/01/2020 (a) 4,781
16,675 California State Public Works Board, Lease Revenue Refunding Bonds (Department of
Corrections), Series B, 5.625% due 11/01/2016 (f) 17,081
2,660 California State University, Systemwide Revenue Bonds, Series A, 5.375% due
11/01/2018 (b) 2,865
2,720 California State University, Systemwide Revenue Refunding Bonds, Series A, 5.125%
due 11/01/2026 (a) 2,822
5,950 California State, Various Purpose, GO, 5.50% due 11/01/2033 6,396
4,100 California Statewide Communities Development Authority, COP (Kaiser Permanente),
5.30% due 12/01/2015 (e)(j) 4,240
3,685 California Statewide Communities Development Authority, Health Facility Revenue
Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 4,014
8,155 Calleguas-Las Virgenes, California, Public Financing Authority Revenue Bonds
(Calleguas Municipal Water District Project), Series A, 5% due 7/01/2033 (f) 8,365
7,000 Capistrano, California, Unified School District, Community Facility District,
Special Tax Refunding Bonds, 5% due 9/01/2029 (b) 7,237
4,600 Ceres, California, Redevelopment Agency, Tax Allocation Bonds (Ceres Redevelopment
Project Area Number 1), 5.75% due 11/01/2030 (f) 4,972
6,000 Chaffey, California, Union High School District, GO, Series C, 5.375% due 5/01/2023 (e) 6,417
3,000 Chino Valley, California, Unified School District, GO (Election of 2002), Series C,
5.25% due 8/01/2030 (f) 3,186
5,910 Chula Vista, California, Elementary School District, COP, 5% due 9/01/2029 (f) 6,080
3,275 Coachella Valley, California, Unified School District, GO (Election of 2005),
Series A, 5% due 8/01/2025 (b) 3,415
2,540 Coalinga, California, Redevelopment Agency Tax Allocation Bonds, 5.90% due 9/15/2025 (f) 2,790
4,135 Contra Costa, California, Water District, Water Revenue Refunding Bonds, Series L, 5%
due 10/01/2032 (e) 4,239
12,180 Contra Costa County, California, COP, Refunding (Merrithew Memorial Hospital Project),
5.375% due 11/01/2017 (f) 12,633
8,500 Corona, California, COP (Clearwater Cogeneration Project), 5% due 9/01/2028 (f) 8,724
5,000 East Bay Municipal Utility District, California, Water System Revenue Bonds, RIB,
Series 1317-X, 6.14% due 6/01/2035 (f)(h) 5,346
1,100 El Centro, California, Financing Authority, Water Revenue Bonds, Series A, 5.25% due
10/01/2035 (e) 1,164
2,500 Fontana, California, Public Financing Authority, Subordinate Lien Tax Allocation
Revenue Bonds (North Fontana Redevelopment Project), Series A, 5% due 10/01/2022 (a) 2,608
6,000 Fremont, California, Unified School District, Alameda County, GO (Election of 2002),
Series B, 5% due 8/01/2030 (e) 6,211
10,755 Fremont, California, Unified School District, Alameda County, GO, Series A, 5.50%
due 8/01/2026 (b) 11,560
4,295 Fresno, California, Joint Powers Financing Authority, Lease Revenue Bonds, Series A,
5.75% due 6/01/2026 (e) 4,601
6,930 Fullerton, California, Public Financing Authority, Tax Allocation Revenue Bonds, 5%
due 9/01/2027 (a) 7,154
4,390 Glendale, California, Electric Revenue Bonds, 5% due 2/01/2032 (f) 4,500
1,350 Glendora, California, Unified School District, GO (Election of 2005), Series A, 5%
due 8/01/2027 (f) 1,404
2,700 Glendora, California, Unified School District, GO (Election of 2005), Series A, 5.25%
due 8/01/2030 (f) 2,877
5,000 Hesperia, California, Community Redevelopment Agency, Tax Allocation Bonds, Series A,
5% due 9/01/2025 (k) 5,173
2,500 La Quinta, California, Financing Authority, Local Agency Revenue Bonds, Series A,
5.25% due 9/01/2024 (a) 2,659
3,050 Little Lake, California, City School District, GO, Refunding, 5.50% due 7/01/2025 (e) 3,349
10,260 Lodi, California, Unified School District, GO (Election of 2002), 5% due 8/01/2029 (e) 10,565
7,575 Long Beach, California, Harbor Revenue Bonds, RIB, AMT, Series 786-X, 6.84% due
5/15/2024 (h) 8,142
2,735 Long Beach, California, Harbor Revenue Refunding Bonds, AMT, Series A, 5% due
5/15/2022 (f) 2,827
10,000 Los Angeles, California, Community Redevelopment Agency, Community Redevelopment
Financing Authority Revenue Bonds (Bunker Hill Project), Series A, 5% due 12/01/2027 (e) 10,302
290 Los Angeles, California, Department of Airports, Airport Revenue Bonds (Los Angeles
International Airport), AMT, Series D, 5.625% due 5/15/2012 (b) 292
2,500 Los Angeles, California, Department of Airports, Airport Revenue Bonds (Ontario
International Airport), AMT, Series A, 6% due 5/15/2017 (b) 2,529
5,275 Los Angeles, California, Department of Airports, Airport Revenue Bonds, Series A,
5.25% due 5/15/2019 (b) 5,587
2,435 Los Angeles, California, Department of Water and Power, Waterworks Revenue Bonds,
Series C, 5% due 7/01/2034 (f) 2,510
7,365 Los Angeles, California, Harbor Department Revenue Bonds, RIB, AMT, Series 349,
8.53% due 11/01/2026 (f)(h) 7,595
7,000 Los Angeles, California, Harbor Department Revenue Bonds, Trust Receipts, AMT,
Class R, Series 7, 8.482% due 11/01/2026 (f)(h) 7,219
2,880 Los Angeles, California, Unified School District, GO (Election of 2004), Series C,
5% due 7/01/2027 (b) 2,979
5,000 Los Angeles, California, Unified School District, GO (Election of 2004), Series F,
5% due 7/01/2030 (b) 5,190
7,000 Los Angeles, California, Unified School District, GO, Series E, 5% due 7/01/2030 (a) 7,244
5,000 Los Angeles, California, Water and Power Revenue Bonds (Power System), Sub-Series A-1,
5% due 7/01/2031 (e) 5,174
8,000 Los Angeles, California, Water and Power Revenue Refunding Bonds, DRIVERS, Series 1302Z,
6.051% due 1/01/2012 (f)(h) 8,490
3,165 Los Angeles, California, Water and Power Revenue Refunding Bonds (Power System),
Series A-A-2, 5.375% due 7/01/2021 (f) 3,354
5,240 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax
Revenue Refunding Bonds, Proposition A, First Tier Senior-Series A, 5% due
7/01/2027 (a) 5,438
6,500 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax
Revenue Refunding Bonds, Proposition A, First Tier Senior-Series A, 5% due
7/01/2035 (a) 6,727
2,000 Los Angeles County, California, Metropolitan Transportation Authority, Sales Tax
Revenue Refunding Bonds, Proposition C, Second Tier Senior-Series A, 5.25% due
7/01/2030 (b) 2,084
5,000 Los Angeles County, California, Public Works Financing Authority, Lease Revenue
Refunding Bonds (Master Refunding Project), Series A, 5% due 12/01/2028 (f) 5,165
3,000 Los Rios, California, Community College District, GO (Election of 2002), Series B,
5% due 8/01/2027 (f) 3,100
2,010 Madera, California, Public Financing Authority, Water and Wastewater Revenue
Refunding Bonds, 5% due 3/01/2036 (f) 2,081
6,865 Merced, California, Community College District, GO (School Facilities District
Number 1), 5% due 8/01/2031 (f) 7,128
5,370 Metropolitan Water District of Southern California, Waterworks Revenue Bonds,
Series B-1, 5% due 10/01/2033 (b) 5,523
1,090 Metropolitan Water District of Southern California, Waterworks Revenue Bonds,
Series B-3, 5% due 10/01/2029 (f) 1,127
4,245 Nevada County, California, COP, Refunding, 5.25% due 10/01/2019 (f) 4,475
2,000 New Haven, California, Unified School District, GO, Refunding, 5.75% due 8/01/2020 (e) 2,186
2,720 Oakland, California, GO (Measure DD), Series A, 5% due 1/15/2026 (f) 2,803
4,270 Oakland, California, Sewer Revenue Bonds, Series A, 5% due 6/15/2029 (e) 4,410
2,000 Oakland, California, State Building Authority, Lease Revenue Bonds (Elihu M. Harris
State Office Building), Series A, 5.50% due 4/01/2008 (a)(g) 2,079
1,245 Orange County, California, Airport Revenue Refunding Bonds, AMT, 5.625% due 7/01/2012 (f) 1,286
6,360 Orange County, California, Public Financing Authority, Lease Revenue Refunding Bonds
(Juvenile Justice Center Facility), 5.375% due 6/01/2018 (a) 6,846
10,000 Oxnard, California, Financing Authority, Wastewater Revenue Bonds (Redwood Trunk Sewer
and Headworks Projects), Series A, 5.25% due 6/01/2034 (b) 10,528
9,645 Oxnard, California, Unified High School District, GO, Refunding, Series A, 6.20% due
8/01/2030 (f) 11,327
1,275 Palm Springs, California, Financing Authority, Lease Revenue Refunding Bonds
(Convention Center Project), Series A, 5.50% due 11/01/2035 (f) 1,385
4,640 Palmdale, California, Water District Public Facility Corporation, COP, 5% due
10/01/2029 (b) 4,768
1,600 Pittsburg, California, Redevelopment Agency, Subordinate Tax Allocation Bonds (Los
Medanos Community Development Project), VRDN, Series A, 3.62% due 9/01/2035 (a)(i) 1,600
5,000 Placentia-Yorba Linda, California, Unified School District, COP, 5% due 10/01/2030 (b) 5,140
5,000 Placentia-Yorba Linda, California, Unified School District, GO (Election of 2002),
Series C, 5% due 8/01/2029 (f) 5,183
9,520 Port of Oakland, California, RIB, AMT, Series 1192, 6.84% due 11/01/2027 (b)(h) 10,549
10,000 Port of Oakland, California, RITR, AMT, Class R, Series 5, 7.517% due 11/01/2012 (b)(h) 11,181
7,500 Port of Oakland, California, Revenue Bonds, AMT, Series K, 5.75% due 11/01/2029 (b) 7,888
3,000 Riverside, California, COP, 5% due 9/01/2028 (a) 3,079
6,000 Riverside, California, Unified School District, GO (Election of 2001), Series A,
5.25% due 2/01/2023 (b) 6,376
7,515 Riverside, California, Unified School District, GO (Election of 2001), Series B, 5%
due 8/01/2030 (f) 7,803
4,500 Riverside County, California, Asset Leasing Corporation, Leasehold Revenue Refunding
Bonds (Riverside County Hospital Project), Series B, 5.70% due 6/01/2016 (f) 4,977
3,100 Roseville, California, Financing Authority, Senior Lien Revenue Refunding Bonds,
Series A, 5% due 9/01/2025 (a) 3,217
3,000 Sacramento, California, City Financing Authority, Capital Improvement Revenue Bonds
(Community Rein Capital Program), Series A, 5% due 12/01/2036 (a) 3,095
2,565 Saddleback Valley, California, Unified School District, GO, 5% due 8/01/2029 (e) 2,650
5,000 San Bernardino, California, City Unified School District, GO, Series A, 5% due
8/01/2028 (e) 5,163
385 San Bernardino County, California, S/F Home Mortgage Revenue Refunding Bonds, AMT,
Series A-1, 6.25% due 12/01/2031 (d) 393
8,000 San Diego, California, Certificates of Undivided Interest, Revenue Bonds, ROLS,
Series II-R-551X, 6.654% due 8/01/2024 (b)(h) 8,501
2,665 San Diego, California, Community College District, GO (Election of 2002), 5%
due 5/01/2030 (e) 2,756
2,720 San Diego, California, Redevelopment Agency, Subordinate Tax Allocation Bonds
(Centre City Redevelopment Project), Series A, 5.25% due 9/01/2024 (a) 2,907
2,860 San Diego, California, Redevelopment Agency, Subordinate Tax Allocation Bonds
(Centre City Redevelopment Project), Series A, 5.25% due 9/01/2025 (a) 3,051
5,400 San Diego, California, Unified Port District, Revenue Refunding Bonds, AMT,
Series A, 5.25% due 9/01/2019 (f) 5,713
3,570 San Diego County, California, COP (Salk Institute for Bio Studies), 5.75% due
7/01/2022 (f) 3,862
5,200 San Diego County, California, COP (Salk Institute for Bio Studies), 5.75% due
7/01/2031 (f) 5,602
7,350 San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A,
5% due 5/01/2030 (e) 7,565
10,000 San Diego County, California, Water Authority, Water Revenue Bonds, COP, Series A,
5% due 5/01/2031 (e) 10,292
5,250 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue
Refunding Bonds, RIB, Series 1318-X, 6.14% due 7/01/2034 (f)(h) 5,620
9,630 San Francisco, California, Bay Area Rapid Transit District, Sales Tax Revenue
Refunding Bonds, Series A, 5% due 7/01/2030 (f) 9,966
3,000 San Francisco, California, City and County Airport Commission, International
Airport Revenue Refunding Bonds, Second Series 28B, 5.25% due 5/01/2023 (f) 3,167
6,455 San Francisco, California, City and County Airport Commission, International
Airport Revenue Refunding Bonds, Second Series 28B, 5.25% due 5/01/2024 (f) 6,814
1,000 San Francisco, California, City and County Airport Commission, International Airport,
Special Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT, Series A,
6.10% due 1/01/2020 (e) 1,049
985 San Francisco, California, City and County Airport Commission, International Airport,
Special Facilities Lease Revenue Bonds (SFO Fuel Company LLC), AMT, Series A, 6.125%
due 1/01/2027 (e) 1,034
1,735 San Francisco, California, Community College District, GO, Refunding, Series A,
5.375% due 6/15/2019 (b) 1,856
1,730 San Francisco, California, Community College District, GO, Refunding, Series A,
5.375% due 6/15/2020 (b) 1,851
1,925 San Francisco, California, Community College District, GO, Refunding, Series A,
5.375% due 6/15/2021 (b) 2,054
4,135 San Jose, California, Airport Revenue Bonds, Series D, 5% due 3/01/2028 (f) 4,248
5,700 San Jose, California, Financing Authority, Lease Revenue Refunding Bonds, DRIVERS,
Series 1280Z, 6.051% due 12/01/2010 (a)(h) 5,957
3,650 San Jose, California, Redevelopment Agency, Tax Allocation Bonds, RIB, AMT, Series 149,
7.74% due 8/01/2027 (f)(h) 3,927
4,250 San Juan, California, Unified School District, GO (Election of 2002), 5% due 8/01/2028 (f) 4,379
4,350 San Mateo County, California, Transit District, Sales Tax Revenue Refunding Bonds,
Series A, 5% due 6/01/2029 (f) 4,507
2,595 Santa Clara, California, Redevelopment Agency, Tax Allocation Bonds (Bayshore North
Project), Series A, 5.25% due 6/01/2019 (a) 2,711
5,500 Santa Clara, California, Subordinated Electric Revenue Bonds, Series A, 5% due
7/01/2028 (f) 5,665
1,100 Santa Clara Valley, California, Water District, Water Utility System Revenue,
Series A, 5.125% due 6/01/2031 (b) 1,131
3,000 Santa Rosa, California, High School District, GO, 5.375% due 8/01/2026 (e) 3,174
2,500 Santa Rosa, California, High School District, GO (Election of 2002), 5% due
8/01/2028 (f) 2,576
6,750 Shasta, California, Joint Powers Financing Authority, Lease Revenue Bonds (County
Administration Building Project), Series A, 5% due 4/01/2033 (f) 6,919
1,645 South Tahoe, California, Joint Powers Financing Authority, Revenue Refunding Bonds
(South Tahoe Redevelopment Project Area Number 1), Series A, 5% due 10/01/2029 (e) 1,690
5,000 Southern California Public Power Authority, Power Project Revenue Bonds (Magnolia
Power Project), Series A-1, 5% due 7/01/2033 (a) 5,129
2,600 Stockton, California, Public Financing Authority, Water Revenue Bonds (Water System
Capital Improvement Projects), Series A, 5% due 10/01/2031 (f) 2,693
1,055 Stockton, California, Public Financing Revenue Refunding Bonds, Series A, 5.875%
due 9/02/2016 (e) 1,057
2,315 Sweetwater, California, Union High School District, Public Financing Authority,
Special Tax Revenue Bonds, Series A, 5% due 9/01/2029 (e) 2,381
1,500 Tehachapi, California, COP, Refunding (Installment Sale), 5.75% due 11/01/2016 (e) 1,651
6,000 Tracy, California, Community Development Agency, Tax Allocation Refunding Bonds,
Series A, 5% due 3/01/2034 (a) 6,124
3,000 Turlock, California, Public Finance Authority, Sewer Revenue Bonds, Series A, 5%
due 9/15/2033 (b) 3,085
8,720 University of California Revenue Bonds (Multiple Purpose Projects), Series Q, 5%
due 9/01/2024 (e) 9,034
6,110 University of California Revenue Bonds (Multiple Purpose Projects), Series Q, 5%
due 9/01/2033 (e) 6,290
4,790 University of California Revenue Bonds, Series O, 5.125% due 9/01/2031 (b) 4,946
3,395 Ventura County, California, Community College District, GO, Refunding, Series A,
5% due 8/01/2027 (f) 3,500
2,550 Vista, California, Unified School District, GO, Series B, 5% due 8/01/2028 (b) 2,627
2,185 Walnut, California, Public Financing Authority, Tax Allocation Revenue Bonds (Walnut
Improvement Project), 5.375% due 9/01/2021 (a) 2,326
6,690 West Contra Costa, California, Unified School District, GO (Election of 2002), Series
B, 5% due 8/01/2032 (e) 6,855
Puerto Rico - 8.5% 20,000 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and Capital
Appreciation Revenue Bonds, Series A, 4.56% due 7/01/2029 (a)(n) 6,758
4,335 Puerto Rico Commonwealth, Public Improvement, GO, 5.75% due 7/01/2010 (f)(g) 4,645
10,000 Puerto Rico Municipal Finance Agency, GO, RIB, Series 225, 7.58% due 8/01/2012 (e)(h) 11,310
20,000 Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue
Bonds, Series E, 5.75% due 2/01/2007 (g) 20,211
Total Municipal Bonds (Cost - $746,348) - 151.5% 764,186
Shares
Held Short-Term Securities
13,254 CMA California Municipal Money Fund, 3.07% (l)(m) 13,254
Total Short-Term Securities (Cost - $13,254) - 2.6% 13,254
Total Investments (Cost - $759,602*) - 154.1% 777,440
Other Assets Less Liabilities - 0.5% 2,204
Preferred Stock, at Redemption Value - (54.6%) (275,250)
-----------
Net Assets Applicable to Common Stock - 100.0% $ 504,394
===========
* The cost and unrealized appreciation (depreciation) of investments
as of July 31, 2006, as computed for federal income tax purposes,
were as follows:
Aggregate cost $ 759,602
==================
Gross unrealized appreciation $ 20,229
Gross unrealized depreciation (2,391)
------------------
Net unrealized appreciation $ 17,838
==================
(a) AMBAC Insured.
(b) FGIC Insured.
(c) FHLMC Collateralized.
(d) FNMA/GNMA Collateralized.
(e) FSA Insured.
(f) MBIA Insured.
(g) Prerefunded.
(h) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(i) 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.
(j) Escrowed to maturity.
(k) XL Capital Insured.
(l) 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
CMA California Municipal Money Fund 13,247 $96
(m) Represents the current yield as of July 31, 2006.
(n) Represents a zero coupon bond; the interest rate shown is the effective
yield at the time of purchase.
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 California Insured Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniYield California Insured Fund, Inc.
Date: September 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 California Insured Fund, Inc.
Date: September 20, 2006
By: /s/ Donald C. Burke
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Donald C. Burke
Chief Financial Officer
MuniYield California Insured Fund, Inc.
Date: September 20, 2006