NPORT-EX 2 NPORT_894535617112684.htm BlackRock MuniHoldings Fund

Schedule of Investments  (unaudited)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

(Percentages shown are based on Net Assets)

 

    
Security		   Par
(000)		     Value  

Municipal Bonds

 

Alabama — 2.0%  

County of Jefferson Alabama Sewer Revenue Refunding RB Series D, Lien,

    

7.00%, 10/01/51

   $  1,545     $ 1,842,459  

Series A, Senior Lien, (AGM), 5.00%, 10/01/44

     570       639,015  

Series A, Senior Lien, (AGM), 5.25%, 10/01/48

     1,090       1,227,667  

Series D, Sub-Lien, 6.00%, 10/01/42

     1,000       1,162,010  
   

 

 

  
      4,871,151  
Arizona — 3.0%        

Industrial Development Authority of the City of Phoenix RB, Series A, 5.00%, 07/01/46(a)

    1,230       1,290,282  

Salt Verde Financial Corp. RB

    

5.00%, 12/01/32

     2,000       2,687,760  

5.00%, 12/01/37

     2,360       3,283,869  
   

 

 

  
      7,261,911  
Arkansas — 1.0%        

Arkansas Development Finance Authority RB
5.00%, 12/01/47

     385       476,253  

AMT, 4.50%, 09/01/49(a)

    1,810       1,831,484  
   

 

 

  
      2,307,737  
California — 6.6%        

California Educational Facilities Authority RB, Series V-1, 5.00%, 05/01/49

     1,545       2,667,458  

California Health Facilities Financing Authority RB, Series B, 6.00%, 08/15/20(b)

    2,200       2,203,938  

California Health Facilities Financing Authority Refunding RB, Series A, 5.00%, 07/01/33

     875       983,447  

California Municipal Finance Authority RB, S/F Housing

    

Series A, Senior, 5.25%, 08/15/39

     105       116,652  

Series A, Senior, 5.25%, 08/15/49

     265       287,236  

California Municipal Finance Authority Refunding RB, Series A, 5.00%, 02/01/42

     165       191,672  

California Pollution Control Financing Authority RB, AMT, 5.00%, 11/21/45(a)

    1,025       1,058,446  

California State Public Works Board RB, Series I,
5.00%, 11/01/38

     550       622,985  

Golden State Tobacco Securitization Corp. Refunding RB, Series A-2, 5.00%, 06/01/47

     1,950       1,993,270  

Montebello Unified School District GO, CAB, (NPFGC), 0.00%, 08/01/22(c)

    2,405       2,382,489  

San Diego Unified School District GO, CAB(c)

   

Series A, 0.00%, 07/01/29

     3,080       2,788,386  

Series A, 0.00%, 07/01/29(d)

    395       354,967  

Stockton Public Financing Authority RB, Series A,
6.25%, 10/01/23(b)

    255       303,983  
   

 

 

  
      15,954,929  
Colorado — 2.9%        

Arapahoe County School District No. 6 Littleton GO, Series A, 5.50%, 12/01/43

     1,260       1,666,236  

Colorado Educational & Cultural Facilities Authority RB, 5.50%, 07/01/40

     1,455       1,458,900  

Colorado Health Facilities Authority Refunding RB, Series A, 4.00%, 08/01/44

     1,285       1,414,001  

Regional Transportation District RB,
6.00%, 01/15/34

     1,425       1,427,651  

State of Colorado COP, Series O, 4.00%, 03/15/44

     930       1,064,831  
   

 

 

  
      7,031,619  
    
Security		   Par
(000)		     Value  
Connecticut — 1.3%        

State of Connecticut GO, Series A,
4.00%, 01/15/38

   $ 2,260     $ 2,681,965  

State of Connecticut Special Tax Revenue RB

    

Series A, 4.00%, 05/01/36

     240       286,402  

Series A, 4.00%, 05/01/39

     150       176,620  
   

 

 

  
      3,144,987  
Delaware — 1.7%        

County of Sussex Delaware RB, 6.00%, 10/01/40

     790       801,850  

Delaware State Economic Development Authority RB, 5.38%, 10/01/45

     2,430       2,442,782  

Delaware Transportation Authority RB,
5.00%, 06/01/55

     840       956,550  
   

 

 

  
      4,201,182  
District of Columbia — 6.2%        

District of Columbia Refunding RB
5.00%, 04/01/35

     315       369,807  

5.00%, 10/01/48

     1,695       1,999,015  

District of Columbia TA, 5.13%, 06/01/41

     1,520       1,576,240  

Metropolitan Washington Airports Authority Dulles Toll Road Revenue Refunding RB

    

Series A, 5.00%, 10/01/53

     1,475       1,536,670  

Series B, 4.00%, 10/01/49

     555       614,923  

Metropolitan Washington Airports Authority Dulles Toll Road Revenue Refunding RB, CAB, Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/35(c)

    13,485       9,005,822  
   

 

 

  
      15,102,477  
Florida — 3.7%        

Collier County Health Facilities Authority Refunding RB, Series A, 5.00%, 05/01/45

     960       1,075,392  

County of Miami-Dade Florida Aviation Revenue Refunding ARB, Series A, 5.38%, 10/01/20(b)

    2,620       2,641,956  

Mid-Bay Bridge Authority RB, Series A,
7.25%, 10/01/21(b)

    2,095       2,266,727  

Village Community Development District No. 10 SAB, 5.13%, 05/01/43

     1,360       1,399,535  

Volusia County Educational Facility Authority Refunding RB, 5.00%, 10/15/49

     1,265       1,528,601  
   

 

 

  
      8,912,211  
Georgia — 2.1%        

Gainesville & Hall County Hospital Authority Refunding RB, Series A, (GTD), 5.50%, 08/15/54

     370       435,090  

Main Street Natural Gas, Inc. RB

    

Series A, 5.00%, 05/15/35

     360       482,663  

Series A, 5.00%, 05/15/36

     360       486,479  

Series A, 5.00%, 05/15/37

     400       545,380  

Series A, 5.00%, 05/15/38

     220       303,334  

Series A, 5.00%, 05/15/49

     725       1,076,117  

Municipal Electric Authority of Georgia RB,
4.00%, 01/01/49

     1,135       1,266,581  

Municipal Electric Authority of Georgia Refunding RB, Series A, 4.00%, 01/01/49

     440       479,142  
   

 

 

  
      5,074,786  
Hawaii — 0.4%        

State of Hawaii Harbor System Revenue RB, Series A, 5.25%, 07/01/30

     945       948,118  
Idaho — 0.3%        

Idaho Health Facilities Authority RB,
5.00%, 12/01/46

     540       643,459  
 

 

 

    

   1

Schedule of Investments  (unaudited) (continued)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

(Percentages shown are based on Net Assets)

 

    
Security		   Par
(000)		     Value  
Illinois — 12.9%        

Chicago Board of Education GO

    

Series C, 5.25%, 12/01/35

   $ 1,075     $ 1,143,166  

Series D, 5.00%, 12/01/46

     1,405       1,467,082  

Series H, 5.00%, 12/01/36

     350       379,008  

Chicago Board of Education Refunding GO

    

Series C, 5.00%, 12/01/27

     500       565,250  

Series C, 5.00%, 12/01/30

     605       673,752  

Series F, 5.00%, 12/01/22

     455       478,574  

Series G, 5.00%, 12/01/34

     315       343,041  

Chicago O’Hare International Airport ARB

    

Series A, 3rd Lien, 5.75%, 01/01/21(b)

    1,680       1,718,405  

Series A, 3rd Lien, 5.75%, 01/01/39

     320       325,926  

Series C, 3rd Lien, 6.50%, 01/01/21(b)

    4,055       4,161,403  

Chicago Transit Authority RB, 5.25%, 12/01/40

     730       764,938  

City of Chicago Illinois Special Assessment Revenue SAB, 6.75%, 12/01/32

     867       868,933  

City of Chicago Illinois Waterworks Revenue Refunding RB, 2nd Lien, 5.00%, 11/01/42

     1,000       1,084,360  

Cook County Community College District No 508 GO, 5.50%, 12/01/38

     560       615,294  

Illinois State Toll Highway Authority RB, Series C, 5.00%, 01/01/37

     2,000       2,320,740  

Metropolitan Pier & Exposition Authority RB, Series A, 5.00%, 06/15/57

     630       674,598  

Metropolitan Pier & Exposition Authority Refunding RB
4.00%, 06/15/50

     970       969,593  

Series B, (AGM), 0.00%, 06/15/43(c)

    3,765       1,764,015  

Series B, (AGM), 0.00%, 06/15/47(c)

    13,220       5,280,068  

Railsplitter Tobacco Settlement Authority RB, 6.00%, 06/01/28(b)

    800       838,560  

State of Illinois GO

    

5.00%, 02/01/39

     1,100       1,167,078  

Series A, 5.00%, 04/01/38

     2,625       2,762,708  

University of Illinois RB, Series A,
5.00%, 04/01/44

     705       777,594  
   

 

 

  
      31,144,086  
Indiana — 3.0%        

City of Valparaiso Indiana RB

    

AMT, 6.75%, 01/01/34

     560       612,085  

AMT, 7.00%, 01/01/44

     1,355       1,506,977  

Indiana Finance Authority RB

    

Series A, 1st Lien, 5.25%, 10/01/38

     2,275       2,393,323  

Series A, AMT, 5.00%, 07/01/44

     310       330,386  

Series A, AMT, 5.00%, 07/01/48

     1,030       1,097,619  

Series A, AMT, 5.25%, 01/01/51

     290       310,361  

Indianapolis Local Public Improvement Bond Bank RB, Series A, 5.00%, 01/15/40

     880       969,443  
   

 

 

  
      7,220,194  
Iowa — 1.5%        

Iowa Finance Authority Refunding RB

    

5.25%, 12/01/25

     320       336,455  

5.88%, 12/01/26(a)

    285       295,405  
Security   Par
(000)		     Value  
Iowa (continued)            

Series B, 5.25%, 12/01/50(e)

  $  1,955     $     2,068,116  

Iowa Tobacco Settlement Authority Refunding RB,

    

Series C, 5.63%, 06/01/46

     980       980,010  
   

 

 

  
      3,679,986  
Kentucky — 0.7%        

Kentucky Economic Development Finance Authority RB, Series A, 5.25%, 01/01/23(b)

    705       791,095  

Kentucky Public Transportation Infrastructure Authority RB, CAB, Series C, 6.75%, 07/01/43(f)

    865       848,020  
   

 

 

  
      1,639,115  
Louisiana — 1.3%        

Tobacco Settlement Financing Corp. Refunding RB

    

Series A, 5.50%, 05/15/30

     555       555,932  

Series A, 5.25%, 05/15/31

     600       615,168  

Series A, 5.25%, 05/15/32

     765       806,914  

Series A, 5.25%, 05/15/33

     830       874,679  

Series A, 5.25%, 05/15/35

     350       376,443  
   

 

 

  
      3,229,136  
Maryland — 1.0%        

Maryland Economic Development Corp. Refunding RB, 5.75%, 09/01/25

     445       445,797  

Maryland Health & Higher Educational Facilities Authority RB, 5.00%, 12/01/46

     305       363,435  

Maryland Health & Higher Educational Facilities Authority Refunding RB, 6.25%, 01/01/21(b)

    1,520       1,558,091  
   

 

 

  
      2,367,323  
Massachusetts — 1.4%        

Massachusetts Development Finance Agency Refunding RB, Series P, 5.45%, 05/15/59

     1,165       1,537,404  

Massachusetts Housing Finance Agency RB, M/F

    

Housing

    

Series C-1, 3.15%, 12/01/49

     400       417,364  

Series C-1, 3.25%, 12/01/54

     1,475       1,539,369  
   

 

 

  
      3,494,137  
Michigan — 2.7%        

City of Detroit Michigan Sewage Disposal System Revenue Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22(b)

    3,085       3,386,620  

Michigan Finance Authority RB, Series C-1, Senior Lien, 5.00%, 07/01/22(b)

    630       688,319  

Michigan Finance Authority Refunding RB,
Series A, 4.00%, 12/01/49

     590       676,370  

Michigan State University Refunding RB, Series B, 5.00%, 02/15/48

     730       916,471  

Michigan Strategic Fund RB, AMT,
5.00%, 06/30/48

     785       877,866  
   

 

 

  
      6,545,646  
Minnesota — 1.1%        

Duluth Economic Development Authority Refunding RB

    

Series A, 4.25%, 02/15/48

     750       838,800  

Series A, 5.25%, 02/15/53

     1,500       1,794,135  
   

 

 

  
      2,632,935  
 

 

 

2  

    

Schedule of Investments  (unaudited) (continued)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

(Percentages shown are based on Net Assets)

 

    
Security		   Par
(000)		     Value  
Missouri — 0.1%        

Health & Educational Facilities Authority of the State of Missouri Refunding RB,
5.50%, 05/01/43

   $          175     $ 186,984  
   

 

 

  
Nebraska — 0.3%        

Central Plains Energy Project RB,
5.25%, 09/01/37

     575       625,985  
   

 

 

  
   
New Hampshire(a) — 0.7%        

New Hampshire Business Finance Authority Refunding RB

    

Series B, 4.63%, 11/01/42

     1,105       1,116,625  

Series C, AMT, 4.88%, 11/01/42

     575       581,106  
   

 

 

  
      1,697,731  
New Jersey — 13.0%        

Casino Reinvestment Development Authority, Inc. Refunding RB

    

5.25%, 11/01/39

     735       760,688  

5.25%, 11/01/44

     1,095       1,125,945  

Essex County Improvement Authority RB, AMT, 5.25%, 07/01/45(a)

    775       775,690  

New Jersey Economic Development

Authority RB

    

4.00%, 11/01/38

     370       400,455  

4.00%, 11/01/39

     295       318,025  

5.00%, 06/15/49

     1,670       1,932,858  

Series EEE, 5.00%, 06/15/48

     2,705       3,090,787  

AMT, 5.13%, 09/15/23

     1,410       1,444,587  

New Jersey Economic Development Authority Refunding ARB, AMT, 5.00%, 10/01/47

     1,060       1,161,855  

New Jersey Economic Development Authority Refunding SAB, 5.75%, 04/01/31

     1,550       1,612,357  

New Jersey Transportation Trust Fund Authority RB

    

Series A, 5.50%, 06/15/41(b)

    1,575       1,647,718  

Series AA, 5.00%, 06/15/44

     895       956,570  

Series B, 5.25%, 06/15/36

     1,705       1,754,206  

Series BB, 4.00%, 06/15/50

     1,085       1,146,780  

Series BB, 5.00%, 06/15/50

     3,720       4,251,886  

New Jersey Turnpike Authority RB

    

Series A, 5.00%, 01/01/43

     715       764,135  

Series E, 5.00%, 01/01/45

     1,875       2,123,175  

Tobacco Settlement Financing Corp.

Refunding RB

    

Series A, 5.25%, 06/01/46

     390       460,703  

Sub-Series B, 5.00%, 06/01/46

     5,150       5,793,801  
   

 

 

  
      31,522,221  
New York — 11.3%        

Erie Tobacco Asset Securitization Corp. Refunding RB, Series A, 5.00%, 06/01/45

     1,405       1,404,761  

Metropolitan Transportation Authority RB, Series B, 5.25%, 11/15/38

     1,715       1,833,386  

Metropolitan Transportation Authority Refunding RB

    

Series C-1, 4.75%, 11/15/45

     1,145       1,279,572  

Series C-1, 5.00%, 11/15/50

     370       424,309  

Series C-1, 5.25%, 11/15/55

     550       629,233  

Monroe County Industrial Development Corp. Refunding RB, Series A, 4.00%, 07/01/50(g)

    770       903,002  

New York City Housing Development Corp. RB, M/F Housing, Series A, 3.00%, 11/01/55

     765       796,633  

New York City Transitional Finance Authority Future Tax Secured Revenue RB

    

4.00%, 05/01/40

     310       375,497  

Series C, 4.00%, 05/01/45

     780       929,815  

Sub-Series E-1, 5.00%, 02/01/42

     310       328,991  
    
Security		   Par
(000)		     Value  
New York (continued)        

New York Counties Tobacco Trust IV Refunding RB

    

Series A, 5.00%, 06/01/38

   $          1,415     $     1,415,198  

Series A, 6.25%, 06/01/41(a)

    1,300       1,300,650  

New York Liberty Development Corp. Refunding RB(a)

   

Class 1, 5.00%, 11/15/44

     2,275       2,418,029  

Class 2, 5.15%, 11/15/34

     245       259,751  

Class 2, 5.38%, 11/15/40

     605       646,019  

New York State Environmental Facilities Corp. RB, Series B, 5.00%, 06/15/48

     1,305       1,644,966  

New York State Urban Development Corp. RB

    

Series A, 4.00%, 03/15/49

     5,700       6,690,831  

Series A, 3.00%, 03/15/50

     930       987,576  

Port Authority of New York & New Jersey RB

    

Series 8, 6.00%, 12/01/36

     900       913,392  

Series 8, 6.00%, 12/01/42

     875       887,381  

Triborough Bridge & Tunnel Authority RB

    

Series A, 4.00%, 11/15/54

     190       222,315  

Series A, 5.00%, 11/15/54

     610       780,806  

Westchester County Healthcare Corp. RB, Series A, Senior Lien, 5.00%, 11/01/44

     225       246,038  
   

 

 

  
      27,318,151  
North Carolina — 0.4%        

North Carolina Medical Care Commission Refunding RB, Series A, 7.75%, 03/01/21(b)

    415       433,285  

University of North Carolina at Chapel Hill RB,
5.00%, 02/01/49

     390       622,842  
   

 

 

  
      1,056,127  
North Dakota — 0.3%        

County of Cass North Dakota Refunding RB, Series B, 5.25%, 02/15/58

     695       829,218  
   

 

 

  
Ohio — 3.1%        

Buckeye Tobacco Settlement Financing Authority Refunding RB

    

Series A-2, Class 1, 4.00%, 06/01/37

     210       246,943  

Series A-2, Class 1, 4.00%, 06/01/38

     210       245,513  

Series A-2, Class 1, 4.00%, 06/01/39

     210       244,915  

Series A-2, Class 1, 4.00%, 06/01/48

     550       614,746  

Series B-2, Class 2, 5.00%, 06/01/55

     2,150       2,370,009  

County of Franklin Ohio RB

    

5.00%, 12/01/46

     290       343,810  

Series A, 6.13%, 07/01/22(b)

    30       33,420  

Series A, 6.13%, 07/01/40

     440       462,893  

Series A, 4.00%, 12/01/49

     365       418,159  

County of Hamilton Ohio Refunding RB

    

4.00%, 08/15/50

     430       493,055  

Series A, 3.75%, 08/15/50

     755       838,518  

Ohio Air Quality Development Authority RB, AMT, 5.00%, 07/01/49(a)

    535       544,625  

State of Ohio RB, AMT, 5.00%, 06/30/53

     580       643,429  
   

 

 

  
      7,500,035  
Oklahoma — 1.8%        

Oklahoma Development Finance Authority RB, Series B, 5.25%, 08/15/48

     855       1,001,179  

Oklahoma Turnpike Authority RB

    

Series A, 4.00%, 01/01/48

     1,500       1,685,925  

Series C, 4.00%, 01/01/42

     1,420       1,614,242  
   

 

 

  
      4,301,346  
 

 

 

    

   3

Schedule of Investments  (unaudited) (continued)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

(Percentages shown are based on Net Assets)

 

Security

  

Par

(000)

    

Value

  
Oregon — 0.9%            

Medford Hospital Facilities Authority Refunding RB, Series A, 4.00%, 08/15/50

   $     1,210     $ 1,387,083  

Warm Springs Reservation Confederated Tribe
Refunding RB, Series B, 5.00%, 11/01/39(a)

    650       773,188  
   

 

 

  
      2,160,271  
Pennsylvania — 3.8%            

Hospitals & Higher Education Facilities Authority of Philadelphia RB, Series A, 5.63%, 07/01/42

     460       481,776  

Lancaster Industrial Development Authority RB,
5.00%, 12/01/49

     950       1,060,485  

Montgomery County Higher Education and Health Authority Refunding RB

    

Series A, 5.00%, 09/01/43

     905       1,081,973  

Series A, 4.00%, 09/01/49

     415       455,533  

Pennsylvania Economic Development Financing
Authority RB, AMT, 5.00%, 06/30/42

     2,015       2,202,032  

Pennsylvania Economic Development Financing Authority Refunding RB, AMT, 5.50%, 11/01/44

     1,105       1,134,238  

Pennsylvania Higher Educational Facilities Authority RB, 4.00%, 08/15/49

     1,680       1,917,334  

Pennsylvania Turnpike Commission RB, Series A, 5.00%, 12/01/44

     795       921,413  
   

 

 

  
      9,254,784  
Puerto Rico — 6.2%            

Children’s Trust Fund Refunding RB

    

5.50%, 05/15/39

     475       475,142  

5.63%, 05/15/43

     500       500,100  

Puerto Rico Commonwealth Aqueduct & Sewer Authority RB

    

Series A, Senior Lien, 5.00%, 07/01/33

     1,845       1,894,022  

Series A, Senior Lien, 5.13%, 07/01/37

     510       524,662  

Puerto Rico Commonwealth Aqueduct & Sewer Authority Refunding RB

    

Series A, Senior Lien, 6.00%, 07/01/38

     530       534,701  

Series A, Senior Lien, 6.00%, 07/01/44

     960       968,410  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB, CAB, Series A-1, Restructured, 0.00%, 07/01/51(c)

    1,442       304,190  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB, CAB, Restructured, Series A-1, 0.00%, 07/01/46(c)

    4,955       1,444,234  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue RB, Restructured

    

Series A-1, 4.75%, 07/01/53

     3,308       3,512,434  

Series A-1, 5.00%, 07/01/58

     4,386       4,723,810  

Series A-2, 4.33%, 07/01/40

     62       64,487  
   

 

 

  
      14,946,192  
Rhode Island — 2.3%            

Tobacco Settlement Financing Corp. Refunding RB

    

Series A, 5.00%, 06/01/35

     580       655,330  

Series B, 4.50%, 06/01/45

     1,900       2,008,110  

Series B, 5.00%, 06/01/50

     2,605       2,815,797  
   

 

 

  
      5,479,237  
South Carolina — 3.3%            

South Carolina Jobs-Economic Development Authority Refunding RB, Series A, 5.00%, 05/01/48

     2,245       2,560,490  

Security

  

Par

(000)

    

Value

  
South Carolina (continued)            

South Carolina Public Service Authority RB, Series A, 5.50%, 12/01/54

   $     2,410     $ 2,730,217  

South Carolina Public Service Authority Refunding RB

    

Series A, 5.00%, 12/01/50

     1,035       1,180,863  

Series E, 5.25%, 12/01/55

     1,225       1,435,724  
   

 

 

  
      7,907,294  
Tennessee — 1.1%            

Chattanooga Health Educational & Housing Facility Board RB, Series A, 5.25%, 01/01/23(b)

    980       1,096,317  

Chattanooga Health Educational & Housing Facility Board Refunding RB, Series A, 4.00%, 08/01/44

     115       126,545  

Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd RB, Series A, 5.00%, 07/01/40

     495       566,250  

Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd Refunding RB, Series A, 5.25%, 10/01/58

     705       823,306  
   

 

 

  
      2,612,418  
Texas — 6.4%            

Central Texas Regional Mobility Authority Refunding RB

    

Senior Lien, 6.25%, 01/01/21(b)

    1,480       1,516,719  

Sub-Lien, 5.00%, 01/01/33

     250       272,353  

City of Austin Texas Airport System Revenue ARB, AMT, 5.00%, 11/15/39

     440       499,017  

City of Austin Texas Electric Utility Revenue Refunding RB, Series A, 5.00%, 11/15/37

     1,500       1,643,145  

City of San Antonio Texas Electric & Gas Systems Revenue Refunding RB, Series A, 5.00%, 02/01/48

     850       1,083,878  

Harris County Cultural Education Facilities Finance Corp. RB, Series B, 7.00%, 01/01/23(b)

    325       378,095  

North Texas Tollway Authority RB, CAB, Series B,
0.00%, 09/01/31(b)(c)

    1,400       763,308  

San Antonio Water System Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48

     1,825       2,280,757  

Tarrant County Cultural Education Facilities Finance Corp. RB, Series B, 5.00%, 07/01/48

     3,330       4,073,056  

Texas Private Activity Bond Surface Transportation Corp. RB, Senior Lien, 7.00%, 06/30/40

     2,000       2,008,120  

Texas Transportation Commission RB, 5.00%, 08/01/57

     845       990,120  
   

 

 

  
      15,508,568  
Utah — 1.0%            

County of Utah RB

    

Series A, 4.00%, 05/15/43

     155       183,483  

Series A, 3.00%, 05/15/50

     710       754,545  

Salt Lake City Corp. Airport Revenue ARB

    

Series A, AMT, 5.00%, 07/01/47

     665       780,311  

Series A, AMT, 5.00%, 07/01/48

     640       765,703  
   

 

 

  
      2,484,042  
Virginia — 1.5%            

Hanover County Economic Development Authority Refunding RB, Series A, 5.00%, 07/01/47

     970       974,724  

Virginia Small Business Financing Authority RB

    

Senior Lien, AMT, 5.25%, 01/01/32

     550       585,222  

Senior Lien, AMT, 6.00%, 01/01/37

     1,830       1,966,701  
   

 

 

  
      3,526,647  
 

 

 

4  

    

Schedule of Investments  (unaudited) (continued)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

(Percentages shown are based on Net Assets)

 

Security

  

Par

(000)

    

Value

  
Washington — 2.5%            

Grant County Public Utility District No. 2 Priest Rapids Hydroelectric Project Refunding RB, Series A, 5.00%, 01/01/26(b)

  $     1,555     $ 1,947,155  

Port of Seattle Washington ARB

    

Series A, AMT, 5.00%, 05/01/43

     1,085       1,265,620  

Series C, AMT, 5.00%, 04/01/40

     540       610,497  

Washington Health Care Facilities Authority RB, Series A, 5.75%, 01/01/45

     1,625       1,832,236  

Washington Health Care Facilities Authority Refunding RB, Series A, 4.00%, 08/01/44

     250       271,723  
   

 

 

  
      5,927,231  
Wisconsin — 0.3%            

Public Finance Authority RB

    

Series A, 5.00%, 07/15/39(a)

    100       104,759  

Series A, 5.00%, 07/15/49(a)

    245       251,706  

Series A, 5.00%, 07/15/54(a)

    115       117,743  

Series B, 5.00%, 06/01/49

     320       325,427  
   

 

 

  
      799,635  
Total Municipal Bonds — 117.1%            

(Cost: $254,716,401)

       283,051,242  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(h)

 

California — 2.9%

    

Bay Area Toll Authority Refunding RB,
4.00%, 04/01/42(i) .

     2,257       2,599,959  

City of Los Angeles Department of Airports Refunding RB, Series A, 5.00%, 05/15/40

     1,614       1,618,728  

Sacramento Area Flood Control Agency Refunding SAB, 5.00%, 10/01/47

     2,250       2,721,395  
   

 

 

  
      6,940,082  
Colorado — 2.1%            

City & County of Denver Colorado Airport System Revenue Refunding ARB, Series A, AMT, 5.25%, 12/01/48(i)

    1,664       2,026,170  

County of Adams Colorado Refunding COP, 4.00%, 12/01/45

     2,700       2,976,021  
   

 

 

  
      5,002,191  
District of Columbia — 0.6%            

Metropolitan Washington Airports Authority Dulles Toll Road Revenue Refunding RB, Series B, (AGM), 4.00%, 10/01/53

     1,299       1,455,632  
   

 

 

  
Georgia — 1.7%            

Dalton Whitfield County Joint Development Authority RB, 4.00%, 08/15/48

     2,622       2,952,366  

Georgia Housing & Finance Authority Refunding RB, Series A, 3.60%, 12/01/44

     1,042       1,147,502  
   

 

 

  
      4,099,868  
Illinois — 0.5%            

Illinois Finance Authority Refunding RB

    

Series C, 4.00%, 02/15/27(b)

    3       2,896  

Series C, 4.00%, 02/15/41

     1,031       1,154,624  
   

 

 

  
      1,157,520  

Security

  

Par

(000)

    

Value

  
Massachusetts — 4.3%            

Commonwealth of Massachusetts Transportation Fund Revenue RB, Series A, 4.00%, 06/01/45

   $ 1,502     $ 1,676,022  

Massachusetts Development Finance Agency Refunding RB, 5.00%, 07/01/47

     3,359       3,979,519  

Massachusetts School Building Authority RB, Series B, 5.00%, 10/15/21(b)

    4,502       4,763,211  
   

 

 

  
      10,418,752  
New York — 12.4%            

Hudson Yards Infrastructure Corp. RB(i)

   

5.75%, 02/15/21(b)

    687       706,430  

5.75%, 02/15/47

     423       434,574  

New York Liberty Development Corp. ARB,
5.25%, 12/15/43

     7,440       7,861,999  

New York Liberty Development Corp. Refunding RB,
5.75%, 11/15/51(i)

    4,460       4,746,502  

New York Power Authority Refunding RB, Series A, 4.00%, 11/15/60

     947       1,125,346  

New York State Dormitory Authority Refunding RB,
Series D, 4.00%, 02/15/47

     4,317       5,039,992  

New York State Thruway Authority Refunding RB,
Series B, 4.00%, 01/01/50

     2,083       2,384,804  

New York State Urban Development Corp. RB, Series A, 4.00%, 03/15/46

     4,846       5,554,679  

Port Authority of New York & New Jersey Refunding RB, 194th Series, 5.25%, 10/15/55

     1,860       2,195,488  
   

 

 

  
      30,049,814  
North Carolina — 0.9%            

North Carolina Capital Facilities Finance Agency
Refunding RB, Series B, 5.00%, 10/01/25(b)

    1,830       2,270,188  
   

 

 

  
Pennsylvania — 0.8%            

Pennsylvania Turnpike Commission RB, Series A,
5.50%, 12/01/42

     1,695       2,032,661  
   

 

 

  
Rhode Island — 0.5%            

Narragansett Bay Commission Refunding RB, Series A, 4.00%, 09/01/22(b)

    1,140       1,230,892  
   

 

 

  
Texas — 6.9%            

City of San Antonio Texas Electric & Gas Systems
Revenue RB, Junior Lien, 5.00%, 02/01/43

     1,720       1,895,922  

Lower Colorado River Authority Refunding RB, 4.00%, 05/15/43

     1,504       1,573,135  

Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue Refunding RB, Series A, 5.00%, 11/01/21(b)

    2,350       2,492,316  

San Antonio Public Facilities Corp. Refunding RB,
4.00%, 09/15/42

     2,295       2,429,625  

Texas Water Development Board RB, Series A, 4.00%, 10/15/49

     5,020       6,075,455  

University of Texas System Refunding RB, Series B,
5.00%, 08/15/43

     2,041       2,216,538  
   

 

 

  
      16,682,991  
Virginia — 1.7%            

Virginia Small Business Financing Authority Refunding RB, Series A, 4.00%, 12/01/49

     3,460       3,971,526  
 

 

 

    

   5

Schedule of Investments  (unaudited) (continued)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

(Percentages shown are based on Net Assets)

 

Security

  

Par

(000)

    

Value

  
Wisconsin — 2.0%            

Wisconsin Health & Educational Facilities Authority Refunding RB

    

4.00%, 12/01/46

   $ 2,059     $ 2,292,295  

4.00%, 12/15/49(i)

    2,140       2,433,458  
   

 

 

  
      4,725,753  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 37.3%

    

(Cost: $83,728,862)

       90,037,870  
   

 

 

  
Total Long-Term Investments — 154.4%            

(Cost: $338,445,263)

       373,089,112  
   

 

 

  
     Shares         
Short-Term Securities            
Money Market Funds — 1.2%            

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.04%(j)(k)

    2,924,178       2,924,763  
   

 

 

  
Total Short-Term Securities — 1.2%        

(Cost: $2,924,371)

       2,924,763  
   

 

 

  
Total Investments — 155.6%        

(Cost: $341,369,634)

       376,013,875  
Other Assets Less Liabilities — 0.8%     2,079,098  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (21.8)%

 

     (52,693,982 ) 

VMTP Shares at Liquidation Value — (34.6)%

 

     (83,700,000 ) 
   

 

 

  
Net Assets Applicable to Common Shares — 100.0%     $241,698,991  
   

 

 

  
(a)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(b)

U.S. 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.

(c)

Zero-coupon bond.

(d)

Security is collateralized by municipal bonds or U.S. Treasury obligations.

(e)

Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end.

(f)

Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end.

(g)

When-issued security.

(h)

Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.

(i) 

All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between May 15, 2021 to February 15, 2047, is $6,959,766.

(j) 

Affiliate of the Fund.

(k)

Annualized 7-day yield as of period end.

 

 

Affiliates

Investments in issuers considered to be an affiliate/affiliates of the Fund during the period ended July 31, 2020, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer

   

Shares

Held at

04/30/20

     

Shares

Purchased

     

Shares

Sold

     

Shares

Held at

07/31/20

     

Value at

07/31/20

     

Income

     

Net Realized

Gain (Loss)(a)

     

Change in

Unrealized

Appreciation

(Depreciation)

  

BlackRock Liquidity Funds, MuniCash, Institutional Class

      5,684,531        —        (2,760,353 )(b)       2,924,178      $ 2,924,763      $ 114      $ 1,979      $ (1,352 ) 
              

 

 

     

 

 

     

 

 

     

 

 

  

 

  (a) 

Includes net capital gain distributions, if applicable.

 
  (b) 

Represents net shares purchased (sold).

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

 

  •  

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 BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of investments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The

 

 

6       

Schedule of Investments  (unaudited) (continued)

July 31, 2020

   

BlackRock MuniHoldings Fund, Inc. (MHD)

 

Fair Value Hierarchy as of Period End (continued)

inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for investments is based on the pricing transparency of the investments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments, refer to its most recent financial statements.

The following table summarizes the Fund’s investments categorized in the disclosure hierarchy. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.

 

        Level 1        Level 2        Level 3        Total  

Assets

                    

Investments

                    

Long-Term Investments

                    

Municipal Bonds

      $ —        $  283,051,242        $              —        $  283,051,242  

Municipal Bonds Transferred to Tender Option Bond Trusts

        —          90,037,870          —          90,037,870  

Short-Term Securities

                    

Money Market Funds

        2,924,763          —          —          2,924,763  
    

 

 

       

 

 

       

 

 

       

 

 

  
     $ 2,924,763        $ 373,089,112        $ —        $ 376,013,875  
    

 

 

       

 

 

       

 

 

       

 

 

  

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

        Level 1        Level 2        Level 3        Total  

Liabilities

                    

TOB Trust Certificates

      $             —        $ (52,673,132 )       $             —        $ (52,673,132 ) 

VMTP Shares at Liquidation Value

        —          (83,700,000 )         —          (83,700,000 ) 
    

 

 

       

 

 

       

 

 

       

 

 

  
     $ —        $ (136,373,132 )       $ —        $ (136,373,132 ) 
    

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGC    Assured Guaranty Corp.
AGM    Assured Guaranty Municipal Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
RB    Revenue Bond
S/F    Single-Family
SAB    Special Assessment Bonds
TA    Tax Allocation

 

 

  7