NPORT-EX 2 NPORT_LCQD_94664536_0122.htm

BlackRock MuniHoldings Fund

Schedule of Investments (unaudited)  January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Municipal Bonds
Alabama — 1.0%
County of Jefferson Alabama Sewer Revenue, Refunding RB
Series A, Senior Lien, (AGM), 5.00%, 10/01/44		$	570			$	611,096
Series A, Senior Lien, (AGM), 5.25%, 10/01/48			1,090				1,171,436
Series D, Sub Lien, 6.00%, 10/01/42			2,875				3,195,775
Series D, Sub Lien, 7.00%, 10/01/51			1,545				1,746,450
Health Care Authority of the City of Huntsville, RB
Series B1, 4.00%, 06/01/45			315				349,286
Series B1, (AGM), 3.00%, 06/01/50			865				869,353
Opelika Utilities Board, Refunding RB, 4.00%, 06/01/41			960				1,050,033
							8,993,429
Alaska — 0.2%
Northern Tobacco Securitization Corp., Refunding RB, Series A, Class 1, 4.00%, 06/01/50			1,890				2,109,164
Arizona — 3.0%
Arizona Health Facilities Authority, Refunding RB, Series A, 5.00%, 02/01/42			2,200				2,200,000
Arizona Industrial Development Authority, RB
4.38%, 07/01/39(a)			575				612,051
Series A, 5.00%, 07/01/39(a)			480				499,616
Series A, (BAM), 4.00%, 06/01/44			425				470,756
Series A, 5.00%, 07/01/49(a)			550				568,746
Series A, 5.00%, 07/01/54(a)			425				438,923
Arizona Industrial Development Authority, Refunding RB(a)
Series A, 5.50%, 07/01/52			130				138,710
Series G, 5.00%, 07/01/47			435				485,157
Glendale Industrial Development Authority, RB
5.00%, 05/15/41			65				73,300
5.00%, 05/15/56			575				638,428
Industrial Development Authority of the City of Phoenix, RB, Series A, 5.00%, 07/01/46(a)			2,120				2,274,620
Industrial Development Authority of the County of Pima, RB(a)
5.00%, 07/01/34			400				420,919
5.00%, 06/15/47			840				851,330
Industrial Development Authority of the County of Pima, Refunding RB, 5.00%, 06/15/52(a)			260				270,977
Maricopa County Industrial Development Authority, Refunding RB
5.00%, 07/01/39(a)			215				243,764
5.00%, 07/01/54(a)			490				543,015
Series A, 4.13%, 09/01/38			775				854,742
Maricopa County Pollution Control Corp., Refunding RB, Series B, 3.60%, 04/01/40			1,400				1,499,649
Salt Verde Financial Corp., RB
5.00%, 12/01/32			3,500				4,304,972
5.00%, 12/01/37			6,845				8,861,352
							26,251,027
Arkansas — 1.1%
Arkansas Development Finance Authority, RB
5.00%, 12/01/47			385				446,750
Series A, AMT, 4.50%, 09/01/49(a)			4,925				5,305,259
City of Benton Arkansas, RB, (AGM), 4.00%, 06/01/39			505				529,652

Security		Par (000)				Value
Arkansas (continued)
City of Fort Smith Arkansas Water & Sewer Revenue, Refunding RB, Subordinate, 4.00%, 10/01/40		$	840			$	897,638
City of Little Rock Arkansas, RB, 4.00%, 07/01/41			1,835				1,916,812
Pulaski County Public Facilities Board, RB, 5.00%, 12/01/42			465				504,082
							9,600,193
California — 10.6%
California Educational Facilities Authority, RB, Series V-1, 5.00%, 05/01/49			1,545				2,243,723
California Health Facilities Financing Authority, Refunding RB
Series A, 5.00%, 07/01/23(b)			1,320				1,396,872
Series A, 4.00%, 04/01/45			1,030				1,131,902
California Municipal Finance Authority, ARB, AMT, Senior Lien, 5.00%, 12/31/43			800				920,281
California Municipal Finance Authority, RB, S/F Housing
Series A, 5.25%, 08/15/39			185				193,864
Series A, 5.25%, 08/15/49			460				480,962
California Municipal Finance Authority, Refunding RB, Series A, 5.00%, 02/01/42			285				325,821
California Pollution Control Financing Authority, RB, Series A, AMT, 5.00%, 11/21/45(a)			1,755				1,802,968
California State Public Works Board, RB
4.00%, 11/01/41			1,230				1,409,114
5.00%, 11/01/46			450				555,458
Series F, 5.25%, 09/01/33			1,230				1,309,056
Series I, 5.50%, 11/01/30			2,500				2,691,570
Series I, 5.50%, 11/01/31			3,965				4,267,034
Series I, 5.00%, 11/01/38			955				1,016,683
California Statewide Communities Development Authority, Refunding RB
4.00%, 03/01/42			1,000				1,090,071
4.00%, 03/01/48			1,345				1,454,358
Carlsbad Unified School District, GO, Series B, 6.00%, 05/01/34			1,000				1,103,863
City of Los Angeles Department of Airports, Refunding ARB
Series A, 4.00%, 05/15/49			5,750				6,436,113
Series A, AMT, 5.00%, 05/15/31			245				304,968
Series A, AMT, 5.00%, 05/15/32			295				364,681
Series A, AMT, 5.00%, 05/15/33			290				358,414
Series A, AMT, 5.00%, 05/15/38			210				258,494
Series A, AMT, 5.00%, 05/15/39			225				275,495
CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(a)			655				546,975
CSCDA Community Improvement Authority, RB, M/F Housing(a)
3.13%, 06/01/57			2,070				1,649,937
4.00%, 06/01/58			2,165				2,041,015
4.00%, 12/01/58			945				885,756
Golden State Tobacco Securitization Corp., Refunding RB(b)
Series A-1, 5.00%, 06/01/22			2,335				2,370,025
Series A-2, 5.00%, 06/01/22			4,350				4,415,089
Hartnell Community College District, GO, CAB, Series D, 7.00%, 08/01/34(c)			1,650				2,080,853
Kern Community College District, GO, Series C, 5.50%, 11/01/23(b)			2,445				2,640,167

1

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
California (continued)
Montebello Unified School District, GO, CAB, (NPFGC), 0.00%, 08/01/22(d)		$	2,405			$	2,395,948
Norwalk-La Mirada Unified School District, Refunding GO, CAB, Series E, (AGC), 0.00%, 08/01/38(d)			8,000				4,814,288
Palomar Community College District, GO, CAB
Series B, 0.00%, 08/01/30(d)			1,500				1,285,452
Series B, Convertible, 6.20%, 08/01/39(c)			2,605				3,152,318
Regents of the University of California Medical Center Pooled Revenue, Refunding RB
Series J, 5.25%, 05/15/23(b)			5,005				5,291,576
Series J, 5.25%, 05/15/38			1,420				1,490,526
Riverside County Public Financing Authority, RB, 5.25%, 11/01/25(b)			2,500				2,865,998
Riverside County Redevelopment Successor Agency, Refunding TA, Series A, (BAM), 4.00%, 10/01/39			1,550				1,707,145
San Diego Community College District, GO, CAB, 6.00%, 08/01/27(b)			2,800				3,481,114
San Diego County Regional Airport Authority, ARB, Series B, AMT, 5.00%, 07/01/47			1,405				1,602,435
San Diego Unified School District, GO, CAB(d)
Series A, 0.00%, 07/01/29			5,315				4,624,661
Series A, 0.00%, 07/01/29(e)			685				587,296
San Francisco City & County Airport Comm-San Francisco International Airport, 4.00%, 05/01/52(f)			1,705				1,886,093
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB
Series A, AMT, 5.50%, 05/01/28			1,085				1,142,938
Series A, AMT, 5.25%, 05/01/33			850				891,449
Series A, AMT, 5.00%, 05/01/44			1,090				1,164,927
State of California, Refunding GO
5.00%, 02/01/38			3,000				3,111,876
3.00%, 12/01/46			1,395				1,438,292
Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23(b)			440				478,695
Washington Township Health Care District, GO, Series B, Election 2004, 5.50%, 08/01/40			920				1,011,636
							92,446,245
Colorado — 2.2%
Arapahoe County School District No.6 Littleton, GO, Series A, (SAW), 5.50%, 12/01/43			1,260				1,572,426
City & County of Denver Colorado Airport System Revenue, ARB
Series B, 5.25%, 11/15/32			3,250				3,477,104
Series A, AMT, 5.50%, 11/15/28			1,000				1,074,799
Series A, AMT, 5.50%, 11/15/30			340				365,084
Series A, AMT, 5.50%, 11/15/31			405				434,667
City & County of Denver Colorado, RB, CAB(d)
Series A-2, 0.00%, 08/01/37			1,490				878,668
Series A-2, 0.00%, 08/01/38			915				512,235
Colorado Educational & Cultural Facilities Authority, RB
5.50%, 07/01/40			2,510				2,518,963
5.00%, 03/01/50(a)			360				387,775
Colorado Educational & Cultural Facilities Authority, Refunding RB, Class A, 5.00%, 10/01/59(a)			1,690				1,823,681
Colorado Health Facilities Authority, Refunding RB
Series A, 4.00%, 08/01/44			1,285				1,404,075
Series A, 3.25%, 08/01/49			1,415				1,460,897

Security		Par (000)				Value
Colorado (continued)
Colorado Housing and Finance Authority, RB, 3.25%, 05/01/52(f)		$	1,605			$	1,708,959
Denver International Business Center Metropolitan District No.1, GO, Series A, 4.00%, 12/01/48			555				567,239
State of Colorado, COP, Series O, 4.00%, 03/15/44			930				1,032,136
							19,218,708
Connecticut — 0.7%
Connecticut State Health & Educational Facilities Authority, Refunding RB, Series I-1, 5.00%, 07/01/42			590				676,952
State of Connecticut Special Tax Revenue, RB
Series A, 4.00%, 05/01/36			240				276,352
Series A, 4.00%, 05/01/39			150				169,992
State of Connecticut, GO
Series A, 4.00%, 01/15/38			2,260				2,572,976
Series A, 5.00%, 04/15/38			985				1,162,002
State of Connecticut, Refunding GO, Series E, 5.00%, 09/15/37			970				1,154,126
							6,012,400
Delaware — 0.7%
County of Kent Delaware, RB
Series A, 5.00%, 07/01/40			330				368,089
Series A, 5.00%, 07/01/48			900				990,782
Delaware State Health Facilities Authority, RB
5.00%, 06/01/43			820				954,323
5.00%, 06/01/48			1,395				1,609,262
Delaware Transportation Authority, RB, 5.00%, 06/01/55			1,790				1,969,367
							5,891,823
District of Columbia — 3.4%
District of Columbia, Refunding RB
5.00%, 04/01/35			315				363,120
5.00%, 10/01/48			1,695				1,983,585
District of Columbia, TA, 5.13%, 06/01/41			1,520				1,525,141
Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB
Series A, AMT, 4.00%, 10/01/37			955				1,085,592
Series A, AMT, 4.00%, 10/01/38			955				1,085,860
Series A, AMT, 4.00%, 10/01/39			1,410				1,600,243
Series A, AMT, 4.00%, 10/01/40			1,150				1,300,341
Series A, AMT, 4.00%, 10/01/41			1,060				1,195,433
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB
Series A, 5.00%, 10/01/53			1,475				1,483,297
Series B, Subordinate, 4.00%, 10/01/49			1,255				1,379,448
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, CAB(d)
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/34			10,170				7,308,030
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/35			13,485				9,304,947
							29,615,037
Florida — 6.8%
Capital Projects Finance Authority, Refunding RB
Series A-1, 5.00%, 10/01/32			140				168,597
Series A-1, 5.00%, 10/01/33			155				186,285
Series A-1, 5.00%, 10/01/34			155				185,840
Series A-1, 5.00%, 10/01/35			50				59,806
Capital Trust Agency, Inc., RB
Series A, 5.00%, 06/01/45(a)			480				495,491

S C H E D U L E O F I N V E S T M E N T S 2

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Florida (continued)
Capital Trust Agency, Inc., RB (continued)
Series A, 5.00%, 12/15/49		$	160			$	170,009
Series A, 5.00%, 12/15/54			140				148,042
Central Florida Expressway Authority, Refunding RB, Senior Lien, 5.00%, 07/01/48			2,760				3,247,910
City of Tampa Florida, RB, CAB(d)
Series A, 0.00%, 09/01/49			285				99,305
Series A, 0.00%, 09/01/53			300				87,558
Collier County Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45			1,755				1,914,501
County of Broward Florida Airport System Revenue, ARB, Series A, AMT, 5.00%, 10/01/45			2,845				3,142,584
County of Broward Florida Port Facilities Revenue, ARB, Series B, AMT, 4.00%, 09/01/49			1,070				1,167,689
County of Lee FL Airport Revenue, ARB, Series B, AMT, 5.00%, 10/01/46			3,515				4,244,756
County of Miami-Dade Florida Aviation Revenue, Refunding RB
Series A, 4.00%, 10/01/37			235				269,237
Series A, 4.00%, 10/01/38			235				268,664
Series A, 4.00%, 10/01/39			175				199,574
Series A, AMT, 5.00%, 10/01/22(b)			2,900				2,984,900
County of Miami-Dade Seaport Department, ARB(b)
Series A, 5.38%, 10/01/23			1,015				1,090,440
Series A, 6.00%, 10/01/23			5,215				5,656,158
Series B, AMT, 6.00%, 10/01/23			4,750				5,146,069
Series B, AMT, 6.25%, 10/01/23			460				500,167
County of Osceola Florida Transportation Revenue, Refunding RB, CAB(d)
Series A-2, 0.00%, 10/01/41			275				144,695
Series A-2, 0.00%, 10/01/42			370				187,175
Series A-2, 0.00%, 10/01/43			335				162,752
Series A-2, 0.00%, 10/01/44			345				161,338
Series A-2, 0.00%, 10/01/45			285				128,397
Series A-2, 0.00%, 10/01/46			625				271,226
Series A-2, 0.00%, 10/01/47			605				252,745
Series A-2, 0.00%, 10/01/48			430				172,944
Series A-2, 0.00%, 10/01/49			355				137,554
Cypress Bluff Community Development District, SAB, Series A, 3.80%, 05/01/50(a)			430				430,271
Escambia County Health Facilities Authority, Refunding RB, 4.00%, 08/15/45			1,725				1,862,843
Esplanade Lake Club Community Development District, SAB, Series A-1, 4.13%, 11/01/50			615				625,711
Florida Development Finance Corp., RB
Series A, 5.00%, 06/15/40			155				174,902
Series A, 5.00%, 06/15/50			520				578,285
Series A, 5.00%, 06/15/55			310				343,559
AMT, 5.00%, 05/01/29(a)			270				285,060
Series A, AMT, 5.00%, 08/01/29(a)(g)			105				106,946
Florida Development Finance Corp., Refunding RB, Series C, 5.00%, 09/15/50(a)			270				288,975
Florida Housing Finance Corp., RB, S/F Housing, 1st Series, (FHLMC, FNMA, GNMA), 3.75%, 07/01/42			135				141,204
Hillsborough County Aviation Authority, Refunding RB, Sub-Series A, AMT, 5.50%, 10/01/29			1,735				1,857,998
Lee County Housing Finance Authority, RB, S/F Housing, Series A-2, AMT, (FHLMC, FNMA, GNMA), 6.00%, 09/01/40			60				60,231

Security		Par (000)				Value
Florida (continued)
Miami-Dade County Educational Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/40		$	3,465			$	3,836,108
Miami-Dade County Seaport Department, Refunding RB, Series A-1, AMT, (AGM), 4.00%, 10/01/45			2,180				2,441,365
Orange County Health Facilities Authority, Refunding RB, 5.00%, 08/01/41			1,305				1,417,281
Palm Beach County Health Facilities Authority, RB, Series B, 5.00%, 11/15/42			210				248,661
Palm Beach County Health Facilities Authority, Refunding RB, 4.00%, 08/15/49			1,185				1,316,556
Reedy Creek Improvement District, GO, Series A, 5.25%, 06/01/23(b)			1,785				1,890,460
Sarasota County Florida Utility System Revenue, RB
Series A, 5.00%, 10/01/45			310				382,892
Series A, 5.00%, 10/01/50			465				573,187
Southern Groves Community Development District No.5, Refunding SAB, 4.00%, 05/01/43			220				226,571
Stevens Plantation Community Development District, SAB, Series A, 7.10%, 05/01/35(h)(i)			800				506,893
Trout Creek Community Development District, SAB
4.00%, 05/01/40			635				655,590
4.00%, 05/01/51			1,055				1,069,564
Village Community Development District No.10, SAB, 5.13%, 05/01/43			2,320				2,362,969
Volusia County Educational Facility Authority, Refunding RB, 5.00%, 10/15/49			1,265				1,498,896
Westside Community Development District, SAB, 4.00%, 05/01/50			815				845,701
							59,081,087
Georgia — 2.6%
Development Authority for Fulton County, RB, 4.00%, 06/15/49			470				520,983
Gainesville & Hall County Hospital Authority, Refunding RB, Series A, (GTD), 5.50%, 02/15/25(b)			640				718,743
Georgia Housing & Finance Authority, RB, S/F Housing
Series A, 3.95%, 12/01/43.			120				124,125
Series A, 4.00%, 12/01/48			170				175,400
Series B, 2.50%, 06/01/50			520				488,091
Griffin-Spalding County Hospital Authority, RB, 4.00%, 04/01/42			2,310				2,539,334
Main Street Natural Gas, Inc., RB
Series A, 5.00%, 05/15/35			360				466,610
Series A, 5.00%, 05/15/36			1,860				2,437,779
Series A, 5.00%, 05/15/37			400				529,361
Series A, 5.00%, 05/15/38			1,265				1,689,655
Series A, 5.00%, 05/15/43			330				383,238
Series A, 5.00%, 05/15/49			4,575				6,493,508
Municipal Electric Authority of Georgia, RB
5.00%, 01/01/48			835				957,806
4.00%, 01/01/49			2,105				2,283,775
5.00%, 01/01/56			350				403,577
4.00%, 01/01/59			1,335				1,447,540
Municipal Electric Authority of Georgia, Refunding RB
Series A, 4.00%, 01/01/51			615				692,135
Sub-Series A, 4.00%, 01/01/49			700				764,273
							23,115,933
Hawaii — 0.3%
State of Hawaii Airports System Revenue, ARB, Series A, AMT, 5.00%, 07/01/45			1,500				1,645,989

3

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Hawaii (continued)
State of Hawaii Airports System Revenue, ARB COP
AMT, 5.25%, 08/01/25		$	425			$	449,598
AMT, 5.25%, 08/01/26			460				486,392
State of Hawaii Department of Budget & Finance, Refunding RB, 5.25%, 11/15/37			400				411,514
							2,993,493
Idaho — 0.5%
Idaho Health Facilities Authority, RB
4.00%, 12/01/43			670				751,845
Series 2017, 5.00%, 12/01/46			540				633,151
Series A, 5.00%, 03/01/39			500				535,445
Power County Industrial Development Corp., RB, AMT, 6.45%, 08/01/32			2,000				2,008,654
							3,929,095
Illinois — 10.0%
Chicago Board of Education, GO
Series A, 5.00%, 12/01/36			985				1,150,036
Series A, 5.00%, 12/01/38			610				711,119
Series A, 5.00%, 12/01/40			730				847,764
Series A, 5.00%, 12/01/41			480				558,407
Series C, 5.25%, 12/01/35			2,655				2,859,592
Series D, 5.00%, 12/01/46			3,480				3,726,996
Series H, 5.00%, 12/01/36			585				662,427
Series H, 5.00%, 12/01/46			240				268,953
Chicago Board of Education, Refunding GO
Series C, 5.00%, 12/01/25			1,120				1,260,322
Series C, 5.00%, 12/01/27			500				580,358
Series C, 5.00%, 12/01/30			605				692,798
Series C, 5.00%, 12/01/34			475				534,450
Series D, 5.00%, 12/01/25			435				489,500
Series F, 5.00%, 12/01/22			455				470,883
Series F, 5.00%, 12/01/23			310				331,839
Series F, 5.00%, 12/01/24			340				374,377
Series G, 5.00%, 12/01/34			315				357,097
Chicago Midway International Airport, Refunding ARB, Series A, 2nd Lien, AMT, 5.00%, 01/01/41			1,870				1,984,509
Chicago O’Hare International Airport, ARB, Series D, AMT, Senior Lien, 5.00%, 01/01/42			430				488,815
Chicago O’Hare International Airport, Refunding RB
Series B, AMT, 4.00%, 01/01/29			1,600				1,604,141
Series A, Senior Lien, 4.00%, 01/01/37			675				770,242
City of Chicago Illinois Special Assessment Revenue, SAB, 6.75%, 12/01/32			1,429				1,432,778
City of Chicago Illinois Wastewater Transmission Revenue, RB, 2nd Lien, 5.00%, 01/01/42			2,530				2,537,160
City of Chicago Illinois Waterworks Revenue, Refunding RB, 2nd Lien, 5.00%, 11/01/42			1,000				1,027,590
Cook County Community College District No. 508, GO
5.50%, 12/01/38			3,075				3,266,342
5.25%, 12/01/43			2,935				3,081,172
County of Will Illinois, GO, 5.00%, 11/15/25(b)			600				682,871
Illinois Finance Authority, RB
Series A, 5.00%, 02/15/37			820				925,569
Series A, 5.00%, 02/15/47			240				267,658
Series A, 5.00%, 02/15/50			130				143,687
Illinois Finance Authority, Refunding RB
4.00%, 03/01/35			1,290				1,401,959
Series A, 5.00%, 11/15/45			1,205				1,333,051

Security		Par (000)				Value
Illinois (continued)
Illinois Finance Authority, Refunding RB (continued)
Series C, 5.00%, 02/15/41		$	555			$	643,299
Illinois State Toll Highway Authority, RB
Series A, 5.00%, 01/01/40			2,980				3,305,383
Series A, 5.00%, 01/01/45			930				1,133,215
Series A, 4.00%, 01/01/46			1,585				1,792,457
Series A, 5.00%, 01/01/46			4,125				5,094,783
Series C, 5.00%, 01/01/37			2,000				2,199,554
Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57			2,370				2,677,870
Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 06/15/50			2,550				2,703,745
Metropolitan Pier & Exposition Authority, Refunding RB, CAB(d)
Series B, (AGM), 0.00%, 06/15/43			3,765				1,955,884
Series B, (AGM), 0.00%, 06/15/47			22,775				10,271,776
State of Illinois, GO
5.25%, 02/01/31			1,485				1,589,926
5.25%, 02/01/32			2,365				2,532,104
5.50%, 07/01/33			3,000				3,167,415
5.50%, 07/01/38			695				733,784
5.00%, 02/01/39			1,910				2,035,609
5.50%, 05/01/39			795				962,826
Series A, 5.00%, 04/01/38			4,545				4,732,440
Series D, 5.00%, 11/01/28			900				1,041,798
State of Illinois, Refunding GO, Series B, 5.00%, 10/01/27			90				103,949
University of Illinois, RB, Series A, 5.00%, 04/01/44			1,225				1,317,196
Upper Illinois River Valley Development Authority, Refunding RB, 5.00%, 01/01/55(a)			390				406,674
							87,226,149
Indiana — 1.5%
City of Valparaiso Indiana, RB
AMT, 6.75%, 01/01/34			975				1,068,138
AMT, 7.00%, 01/01/44			2,355				2,577,357
Indiana Finance Authority, RB(b)
Series A, AMT, 5.00%, 07/01/23			2,870				3,030,146
Series A, AMT, 5.25%, 07/01/23			500				529,615
Indiana Housing & Community Development Authority, RB, 3.00%, 07/01/52(f)			780				830,841
Indianapolis Local Public Improvement Bond Bank, RB
Series A, 5.00%, 01/15/40			1,520				1,575,193
Series F, 5.25%, 02/01/36			3,055				3,065,790
							12,677,080
Iowa — 0.9%
Iowa Finance Authority, RB, Series A, 5.00%, 05/15/48			1,900				2,063,396
Iowa Finance Authority, Refunding RB
5.25%, 12/01/25			1,260				1,342,618
Series B, 5.25%, 12/01/50(g)			2,445				2,622,299
Iowa Student Loan Liquidity Corp., 3.00%, 12/01/39			1,715				1,744,716
							7,773,029
Kansas — 0.1%
Seward County Unified School District No.480 Liberal, Refunding GO, 5.00%, 09/01/39			720				737,727

S C H E D U L E O F I N V E S T M E N T S 4

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Kentucky — 1.1%
County of Boyle Kentucky, Refunding RB, 5.00%, 06/01/37		$	2,500			$	2,906,225
Kentucky Economic Development Finance Authority, RB(b)
Series A, 5.25%, 01/01/23			1,230				1,279,424
Series A, 5.38%, 01/01/23			1,830				1,905,612
Kentucky Public Transportation Infrastructure Authority, RB, CAB(c)
Series C, Convertible, 6.45%, 07/01/34			500				597,267
Series C, Convertible, 6.60%, 07/01/39			830				988,813
Series C, Convertible, 6.75%, 07/01/43			1,770				2,114,702
							9,792,043
Louisiana — 0.9%
City of Alexandria Louisiana Utilities Revenue, RB, 5.00%, 05/01/24(b)			860				935,847
Lake Charles Harbor & Terminal District, ARB, Series B, AMT, (AGM), 5.50%, 01/01/29			1,500				1,624,707
Louisiana Public Facilities Authority, Refunding RB, 5.00%, 05/15/47			1,635				1,828,139
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.25%, 05/15/31			375				375,868
Series A, 5.25%, 05/15/32			1,320				1,335,324
Series A, 5.25%, 05/15/33			1,430				1,446,467
Series A, 5.25%, 05/15/35			605				635,064
							8,181,416
Maine — 0.0%
Maine State Housing Authority, RB, S/F Housing, Series C, 3.95%, 11/15/43			335				335,635
Maryland — 1.5%
Anne Arundel County Consolidated Special Taxing District, ST
5.13%, 07/01/36			170				177,243
5.25%, 07/01/44			170				177,169
Howard County Housing Commission, RB, M/F Housing, 5.00%, 12/01/42			1,430				1,629,767
Maryland Health & Higher Educational Facilities Authority, RB
Series 2017, 5.00%, 12/01/46			305				359,731
Series A, 5.00%, 05/15/42			1,760				2,028,214
Series B, 4.00%, 04/15/45			795				882,088
Maryland Stadium Authority, RB, (NPFGC), 5.00%, 05/01/34			2,700				3,208,146
Maryland State Transportation Authority, Refunding RB, Series A, 2.50%, 07/01/47			4,915				4,436,903
							12,899,261
Massachusetts — 2.5%
Massachusetts Development Finance Agency, RB
5.00%, 01/01/48			1,115				1,264,407
5.00%, 10/01/48			830				929,627
Series A, 5.25%, 01/01/42			1,110				1,261,477
Series A, 5.00%, 01/01/47			1,570				1,755,254
Massachusetts Development Finance Agency, Refunding RB
4.00%, 07/01/39			1,140				1,226,427
5.00%, 04/15/40			400				430,118
5.00%, 09/01/43			750				863,298
Series A, 5.00%, 10/01/35			500				563,138
Series A, 5.00%, 01/01/40			435				497,763
Series A, 5.00%, 10/01/43			750				836,724

Security		Par (000)				Value
Massachusetts (continued)
Massachusetts Development Finance Agency, Refunding RB (continued)
Series A, 4.00%, 06/01/49		$	225			$	249,342
Series P, 5.45%, 05/15/59			2,010				2,548,262
Massachusetts Educational Financing Authority, RB
Series B, AMT, 2.63%, 07/01/36			265				257,792
AMT, Subordinate, 3.75%, 07/01/47			1,865				1,888,148
Massachusetts Educational Financing Authority, Refunding RB
Series A, AMT, 3.63%, 07/01/32			765				793,485
Series B, AMT, 3.63%, 07/01/34			270				279,898
Massachusetts Housing Finance Agency, RB, M/F Housing
Series A, 3.80%, 12/01/43			160				168,334
Series A, 3.85%, 06/01/46			205				213,059
Series C-1, 3.15%, 12/01/49			400				399,748
Series C-1, 3.25%, 12/01/54			1,475				1,476,914
Series D-1, 2.55%, 12/01/50			420				391,166
Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/51			3,100				3,775,623
							22,070,004
Michigan — 3.1%
City of Detroit Michigan Sewage Disposal System Revenue, Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22(b)			5,320				5,424,868
City of Detroit Michigan Water Supply System Revenue, RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36			5				5,022
Eastern Michigan University, RB, Series A, 4.00%, 03/01/47			1,170				1,298,989
Michigan Finance Authority, RB
Series S, 5.00%, 11/01/44			1,555				1,728,907
Series C-2, AMT, Senior Lien, 5.00%, 07/01/22(b)			240				244,402
Series C-1, Senior Lien, 5.00%, 07/01/22(b)			455				463,499
Michigan Finance Authority, Refunding RB
5.00%, 11/15/41			5,560				6,354,185
4.00%, 11/15/46			570				607,073
Series A, 4.00%, 12/01/49			590				654,346
Michigan State Hospital Finance Authority, Refunding RB
5.00%, 11/15/47			215				259,595
Series C, 4.00%, 06/01/22(b)			2,100				2,124,450
Michigan State Housing Development Authority, RB, M/F Housing
Series A, 3.80%, 10/01/38.			1,690				1,800,886
Series A, 4.15%, 10/01/53			940				992,616
Series A, 2.70%, 10/01/56			2,655				2,453,886
Michigan State Housing Development Authority, RB, S/F Housing, Series A, 4.00%, 06/01/49			80				81,332
Michigan State University, Refunding RB, Series B, 5.00%, 02/15/48			730				876,483
Michigan Strategic Fund, RB, AMT, 5.00%, 06/30/48			1,795				2,056,887
							27,427,426
Minnesota — 1.3%
City of Maple Grove Minnesota, Refunding RB, 4.00%, 05/01/37			880				952,776
City of Minneapolis Minnesota, Refunding RB, Series A, 5.00%, 11/15/49			560				657,728

5

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Minnesota (continued)
City of Otsego MN, Refunding RB, COP, Series A, 5.00%, 09/01/44		$	425			$	441,935
City of Spring Lake Park Minnesota, RB, 5.00%, 06/15/39			1,080				1,164,751
Duluth Economic Development Authority, Refunding RB
Series A, 4.25%, 02/15/48			3,800				4,137,797
Series A, 5.25%, 02/15/53			1,500				1,751,750
Series A, 5.25%, 02/15/58			520				607,195
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Refunding RB, Series A, 4.00%, 11/15/43			575				626,668
Minneapolis-St. Paul Metropolitan Airports Commission, Refunding RB, Sub Series D, AMT, 5.00%, 01/01/41			290				332,718
Minnesota Higher Education Facilities Authority, RB, Series 8-K, 4.00%, 03/01/43			385				403,301
							11,076,619
Mississippi — 1.0%
Mississippi Development Bank, RB, (AGM), 6.88%, 12/01/40			3,595				3,926,912
Mississippi State University Educational Building Corp., Refunding RB, 5.25%, 08/01/23(b)			2,000				2,132,144
State of Mississippi, RB
Series A, 5.00%, 10/15/37			330				394,305
Series A, 4.00%, 10/15/38			1,650				1,849,901
							8,303,262
Missouri — 1.1%
Health & Educational Facilities Authority of the State of Missouri, RB
4.13%, 02/15/43			300				300,718
4.00%, 06/01/53			2,075				2,315,870
Series A, 5.00%, 10/01/23(b)			500				533,191
Series A, 5.00%, 06/01/42			540				625,134
Series C-2, 5.00%, 10/01/34			1,000				1,060,564
Health & Educational Facilities Authority of the State of Missouri, Refunding RB
5.50%, 05/01/43			305				318,242
Series A, 4.00%, 07/01/46			1,670				1,887,666
Kansas City Industrial Development Authority, ARB, AMT, (AGM), 4.00%, 03/01/57			615				676,468
Missouri Housing Development Commission, RB, S/F Housing
(FHLMC, FNMA, GNMA), 2.35%, 11/01/46			1,110				1,059,563
(FHLMC, FNMA, GNMA), 2.40%, 11/01/51			1,160				1,044,307
							9,821,723
Montana — 0.0%
Montana Board of Housing, RB, S/F Housing
Series B-2, 3.50%, 12/01/42			75				76,650
Series B-2, 3.60%, 12/01/47			120				123,956
							200,606
Nebraska — 0.4%
Central Plains Energy Project, RB 5.25%, 09/01/37			575				588,897

Security		Par (000)				Value
Nebraska (continued)
Central Plains Energy Project, RB (continued)
5.00%, 09/01/42		$	600			$	613,635
Douglas County Hospital Authority No.3, Refunding RB, 5.00%, 11/01/45			400				439,750
Nebraska Investment Finance Authority, RB, 3.00%, 03/01/52(f)			1,755				1,857,855
							3,500,137
Nevada — 1.3%
City of Carson City Nevada, Refunding RB, 5.00%, 09/01/42			650				741,493
City of Las Vegas Nevada Special Improvement District No.809, SAB, 5.65%, 06/01/23			195				197,912
City of Reno Nevada, Refunding RB
Series A-1, (AGM), 4.00%, 06/01/43			1,570				1,682,147
Series A-1, (AGM), 4.00%, 06/01/46			1,250				1,337,425
County of Clark Department of Aviation, Refunding RB, Series A-2, Sub Lien, 4.25%, 07/01/36			1,000				1,063,192
County of Clark Nevada, GO
Series A, 5.00%, 06/01/36			1,205				1,432,800
Series A, 5.00%, 06/01/37			3,000				3,567,177
Tahoe-Douglas Visitors Authority, RB
5.00%, 07/01/40			285				325,011
5.00%, 07/01/45			350				393,607
5.00%, 07/01/51			380				422,747
							11,163,511
New Hampshire — 0.6%
New Hampshire Business Finance Authority, Refunding RB(a)
Series A, 3.63%, 07/01/43(g)			430				443,285
Series B, 4.63%, 11/01/42			2,095				2,163,536
Series B, AMT, 3.75%, 07/01/45(g)			395				405,552
Series C, AMT, 4.88%, 11/01/42			1,140				1,181,220
New Hampshire Housing Finance Authority, RB, M/F Housing, Series 1, (FHA), 4.00%, 07/01/52			800				831,512
							5,025,105
New Jersey — 10.7%
Casino Reinvestment Development Authority, Inc., Refunding RB
5.25%, 11/01/39			1,265				1,359,335
5.25%, 11/01/44			1,885				2,010,975
Hudson County Improvement Authority, RB, 4.00%, 10/01/46			1,195				1,341,690
New Jersey Economic Development Authority, RB
5.00%, 06/15/36			460				546,853
4.00%, 11/01/38			370				407,928
4.00%, 11/01/39			295				324,543
5.00%, 06/15/49			1,670				1,950,540
Series A, 5.00%, 06/15/47			2,500				2,854,100
Series B, 4.50%, 06/15/40			1,270				1,438,258
Series EEE, 5.00%, 06/15/43			160				186,138
Series EEE, 5.00%, 06/15/48			2,705				3,122,744
Series LLL, 5.00%, 06/15/34			365				435,095
Series UU, 5.00%, 06/15/24(b)			80				87,156
Series UU, 5.00%, 06/15/40			345				367,805
Series WW, 5.00%, 06/15/36			210				232,530

S C H E D U L E O F I N V E S T M E N T S 6

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
New Jersey (continued)
New Jersey Economic Development Authority, RB (continued)
AMT, 5.13%, 09/15/23		$	1,300			$	1,337,934
AMT, (AGM), 5.00%, 01/01/31			790				845,776
AMT, (AGM), 5.13%, 07/01/42			200				212,296
AMT, 5.38%, 01/01/43			3,000				3,202,491
Series B, AMT, 5.63%, 11/15/30			660				712,654
New Jersey Economic Development Authority, Refunding ARB, AMT, 5.00%, 10/01/47			1,060				1,199,502
New Jersey Economic Development Authority, Refunding SAB
6.50%, 04/01/28			5,000				5,427,235
5.75%, 04/01/31			2,675				2,800,677
New Jersey Educational Facilities Authority, Refunding RB, Series A, 5.00%, 07/01/42			1,450				1,645,283
New Jersey Health Care Facilities Financing Authority, RB, 4.00%, 07/01/47			300				321,467
New Jersey Health Care Facilities Financing Authority, Refunding RB
5.00%, 10/01/37			685				789,990
Series A, 5.00%, 07/01/22(b)			500				508,941
New Jersey Higher Education Student Assistance Authority, RB, Series B, AMT, 3.50%, 12/01/39			680				721,877
New Jersey Housing & Mortgage Finance Agency, Refunding RB, Series A, AMT, 3.80%, 10/01/32			1,200				1,277,370
New Jersey Transportation Trust Fund Authority, RB
Series AA, 4.13%, 06/15/39			1,040				1,151,307
Series AA, 5.50%, 06/15/39			3,510				3,699,800
Series AA, 5.00%, 06/15/44			1,835				1,925,370
Series AA, 5.00%, 06/15/45			1,325				1,487,098
Series AA, 5.00%, 06/15/46			400				434,596
Series AA, 3.00%, 06/15/50			130				128,298
Series BB, 4.00%, 06/15/50			1,980				2,145,055
Series BB, 5.00%, 06/15/50			3,720				4,291,548
Series S, 5.25%, 06/15/43			2,810				3,320,453
Series S, 5.00%, 06/15/46			2,070				2,396,733
New Jersey Transportation Trust Fund Authority, RB, CAB, Series A, 0.00%, 12/15/35(d)			1,000				660,232
New Jersey Transportation Trust Fund Authority, Refunding RB
4.00%, 12/15/39			510				562,308
Series A, 5.00%, 12/15/32			1,600				1,883,176
Series A, 5.00%, 12/15/36			720				841,804
New Jersey Turnpike Authority, RB
Series A, 5.00%, 07/01/22(b)			715				727,787
Series A, 5.00%, 01/01/38			1,120				1,140,030
Series A, 4.00%, 01/01/42			845				966,626
Series A, 4.00%, 01/01/48			270				299,041
Series E, 5.00%, 01/01/45			4,450				4,865,617
South Jersey Port Corp., ARB, Series B, AMT, 5.00%, 01/01/35			625				717,052
South Jersey Transportation Authority, RB, Series A, 4.00%, 11/01/50			275				303,666
State of New Jersey, GO
Series A, 4.00%, 06/01/31			925				1,074,015
Series A, 3.00%, 06/01/32			935				1,007,867
Tobacco Settlement Financing Corp., Refunding RB Series A, 5.00%, 06/01/35			1,340				1,575,490

Security		Par (000)				Value
New Jersey (continued)
Tobacco Settlement Financing Corp., Refunding RB (continued)
Series A, 4.00%, 06/01/37		$	500			$	552,690
Series A, 5.25%, 06/01/46			4,955				5,707,744
Sub-Series B, 5.00%, 06/01/46			10,110				11,380,332
							92,914,918
New Mexico — 0.2%
City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/44			200				219,469
New Mexico Hospital Equipment Loan Council, Refunding RB, Series VIC, 5.00%, 08/01/44			450				498,769
New Mexico Mortgage Finance Authority, RB, 3.00%, 03/01/53(f)			1,315				1,386,648
							2,104,886
New York — 11.3%
City of New York, GO
Series A -1, 4.00%, 08/01/50			10,000				11,257,910
Series C, 5.00%, 08/01/42			805				979,614
Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45			3,585				3,606,729
Metropolitan Transportation Authority, RB
Series A-1, 5.25%, 11/15/39			1,000				1,054,759
Series B, 5.25%, 11/15/38			2,970				3,205,473
Metropolitan Transportation Authority, Refunding RB
Series C-1, 4.75%, 11/15/45			1,950				2,228,121
Series C-1, 5.00%, 11/15/50			370				425,172
Series C-1, 5.25%, 11/15/55			1,040				1,214,292
Series C-1, 5.00%, 11/15/56			2,670				2,913,966
Series C-1, 5.25%, 11/15/56			10				11,373
Monroe County Industrial Development Corp., Refunding RB
4.00%, 12/01/46			1,000				1,114,020
Series A, 4.00%, 07/01/50			770				853,221
New York City Housing Development Corp., RB, M/F Housing
Series A, 3.00%, 11/01/55			1,505				1,447,170
Series F-1, (FHA), 2.40%, 11/01/46			7,050				6,458,026
Series F-1, (FHA), 2.50%, 11/01/51			4,860				4,435,975
Series I-1, (FHA), 2.55%, 11/01/45			1,200				1,124,080
Series I-1, (FHA), 2.65%, 11/01/50			3,205				2,992,217
Series I-1, (FHA), 2.70%, 11/01/55			950				889,851
New York City Industrial Development Agency, Refunding RB
(AGM), 3.00%, 03/01/49			775				785,200
3.00%, 03/01/49			605				605,785
Series A, Class A, (AGM), 3.00%, 01/01/37			155				160,435
Series A, Class A, (AGM), 3.00%, 01/01/39			155				159,891
Series A, Class A, (AGM), 3.00%, 01/01/40			110				113,006
New York City Transitional Finance Authority Future Tax Secured Revenue, RB
Sub-Series E-1, 5.00%, 02/01/42			1,050				1,053,490
Series C, Subordinate, 4.00%, 05/01/45			1,615				1,819,267
Sub-Series C-1, Subordinate, 4.00%, 05/01/40			310				350,370
New York City Water & Sewer System, Refunding RB, Series CC, 5.00%, 06/15/47			1,000				1,049,104
New York Counties Tobacco Trust IV, Refunding RB Series A, 5.00%, 06/01/38			1,410				1,411,373

7

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
New York (continued)
New York Counties Tobacco Trust IV, Refunding RB (continued)
Series A, 6.25%, 06/01/41(a)		$	3,200			$	3,247,536
New York Counties Tobacco Trust VI, Refunding RB, Series A-2-B, 5.00%, 06/01/45			500				545,250
New York Liberty Development Corp., Refunding RB
Series 1, Class 1, 5.00%, 11/15/44(a)			6,005				6,460,323
Series 2, Class 2, 5.15%, 11/15/34(a)			420				461,029
Series 2, Class 2, 5.38%, 11/15/40(a)			1,450				1,595,239
Series A, 2.88%, 11/15/46			9,305				8,869,191
New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60			670				744,231
New York State Environmental Facilities Corp., RB, Series B, Subordinate, 5.00%, 06/15/48			1,305				1,554,885
New York State Housing Finance Agency, RB, M/F Housing, Series L-1, (SONYMA), 2.50%, 11/01/45			1,605				1,471,994
New York State Thruway Authority, Refunding RB, Series B, Subordinate, 3.00%, 01/01/46			900				907,441
New York State Urban Development Corp., RB
Series A, 4.00%, 03/15/49			5,700				6,341,136
Series A, 3.00%, 03/15/50			930				934,862
New York Transportation Development Corp., RB
AMT, 5.00%, 10/01/35			640				765,597
AMT, 5.00%, 10/01/40			1,825				2,158,334
Port Authority of New York & New Jersey, Refunding ARB, Series 223, AMT, 4.00%, 07/15/41			1,075				1,202,757
State of New York Mortgage Agency, Refunding RB, S/F Housing, Series 211, 3.75%, 10/01/43			1,190				1,240,203
Triborough Bridge & Tunnel Authority, RB
Series A, 4.00%, 11/15/54			710				799,966
Series A, 5.00%, 11/15/54			610				739,770
Series A, 5.00%, 11/15/56			2,480				3,039,481
TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41			535				600,119
Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44			456				488,719
Westchester Tobacco Asset Securitization Corp., Refunding RB, Sub-Series C, 4.00%, 06/01/42			365				385,730
							98,273,683
North Carolina — 0.9%
County of Union North Carolina Enterprise System Revenue, RB, 3.00%, 06/01/51			5,740				5,947,306
North Carolina Medical Care Commission, RB
4.00%, 11/01/52			400				446,637
Series A, 4.00%, 10/01/50			115				124,556
Series A, 5.00%, 10/01/50			305				349,177
University of North Carolina at Chapel Hill, RB, 5.00%, 02/01/49			550				757,615
							7,625,291
North Dakota — 0.1%
County of Cass North Dakota, Refunding RB, Series B, 5.25%, 02/15/58			695				809,461
Ohio — 4.4%
Buckeye Tobacco Settlement Financing Authority, Refunding RB
Series A-2, Class 1, 4.00%, 06/01/37			210				234,864
Series A-2, Class 1, 4.00%, 06/01/38			210				234,152
Series A-2, Class 1, 4.00%, 06/01/39			210				233,757
Series A-2, Class 1, 3.00%, 06/01/48			1,505				1,445,408

Security		Par (000)				Value
Ohio (continued)
Buckeye Tobacco Settlement Financing Authority, Refunding RB (continued)
Series A-2, Class 1, 4.00%, 06/01/48		$	550			$	594,881
Series B-2, Class 2, 5.00%, 06/01/55			10,715				11,736,889
City of Dayton Ohio Airport Revenue, Refunding RB, Series A, AMT, (AGM), 4.00%, 12/01/32			2,000				2,020,316
County of Franklin Ohio, RB
Series 2017, 5.00%, 12/01/46			290				338,756
Series A, 6.13%, 07/01/22(b)			820				839,593
Series A, 4.00%, 12/01/49			365				408,912
County of Hamilton Ohio, Refunding RB
4.00%, 08/15/50			1,085				1,204,124
Series A, 3.75%, 08/15/50			755				811,448
County of Montgomery Ohio, Refunding RB
4.00%, 11/15/42			655				713,019
4.00%, 08/01/46			2,525				2,832,737
4.00%, 08/01/51			810				902,426
Northwest Local School District/Hamilton & Butler Counties, GO, 4.00%, 12/01/50			1,135				1,176,595
Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(a)			1,235				1,372,510
Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48			65				67,883
Ohio Housing Finance Agency, Refunding RB, 3.25%, 09/01/52(f)			4,565				4,879,702
Ohio Turnpike & Infrastructure Commission, RB, Series A-1, Junior Lien, 5.25%, 02/15/31			2,470				2,571,364
State of Ohio, RB, AMT, 5.00%, 06/30/53			1,000				1,080,591
State of Ohio, Refunding RB, Series A, 4.00%, 01/15/50			2,250				2,424,251
							38,124,178
Oklahoma — 0.8%
Oklahoma City Public Property Authority, Refunding RB, 5.00%, 10/01/39			720				810,988
Oklahoma Development Finance Authority, RB
Series B, 5.25%, 08/15/48			1,460				1,721,197
Series B, 5.50%, 08/15/57			625				745,198
Oklahoma State University, RB, Series A, 4.00%, 09/01/46			500				572,440
Oklahoma Turnpike Authority, RB
Series A, 4.00%, 01/01/48			1,780				1,984,182
Series C, 4.00%, 01/01/42			1,420				1,578,909
							7,412,914
Oregon — 1.0%
Clackamas County School District No.12 North Clackamas, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(d)			510				280,758
Medford Hospital Facilities Authority, Refunding RB, Series A, 4.00%, 08/15/50			1,210				1,335,345
Multnomah & Clackamas Counties School District No.10JT Gresham-Barlow, GO, CAB, Series A, (GTY), 0.00%, 06/15/38(d)			530				319,161
Oregon Health & Science University, RB
Series A, 4.00%, 07/01/37			675				750,045
Series A, 5.00%, 07/01/42			600				699,638
Oregon State Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/45			1,475				1,618,490

S C H E D U L E O F I N V E S T M E N T S 8

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Oregon (continued)
Port of Portland Oregon Airport Revenue, Refunding ARB, Series 27-A, AMT, 5.00%, 07/01/45		$	1,290			$	1,536,098
Salem-Keizer School District No.24J, GO, CAB, Series A, (GTY), 0.00%, 06/15/40(d)			1,980				1,180,888
State of Oregon Housing & Community Services Department, RB, S/F Housing, Series C, 3.95%, 07/01/43			140				144,000
Warm Springs Reservation Confederated Tribe, Refunding RB, Series B, 5.00%, 11/01/39(a)			650				755,314
							8,619,737
Pennsylvania — 6.0%
Altoona Area School District, GO, (BAM, SAW), 5.00%, 12/01/25(b)			110				125,297
Bristol Township School District, GO, (SAW), 5.25%, 06/01/23(b)			2,500				2,645,260
Bucks County Industrial Development Authority, RB, 4.00%, 08/15/50			1,305				1,409,900
Commonwealth Financing Authority, RB
5.00%, 06/01/33			335				395,559
5.00%, 06/01/34			750				885,022
(AGM), 4.00%, 06/01/39			1,365				1,519,162
County of Lehigh Pennsylvania, Refunding RB, Series A, 4.00%, 07/01/49			420				459,063
Delaware River Port Authority, RB, 4.50%, 01/01/32			1,500				1,595,080
Hospitals & Higher Education Facilities Authority of Philadelphia, RB, Series A, 5.63%, 07/01/42			795				810,995
Lancaster Industrial Development Authority, RB, 5.00%, 12/01/49			950				1,067,121
Montgomery County Higher Education and Health Authority, Refunding RB
4.00%, 09/01/49			715				767,920
Series A, 5.00%, 09/01/43			905				1,046,215
Series A, 5.00%, 09/01/48			980				1,116,460
Series A, 4.00%, 09/01/49			1,380				1,462,579
Montgomery County, Refunding RB, 4.00%, 05/01/52(f)			5,860				6,377,901
Pennsylvania Economic Development Financing Authority, RB
Series A-1, 4.00%, 04/15/50			470				522,390
AMT, 5.00%, 12/31/38			390				437,300
AMT, 5.00%, 06/30/42			2,455				2,730,353
Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44			1,905				1,994,223
Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47			100				91,283
Pennsylvania Higher Educational Facilities Authority, RB, 4.00%, 08/15/49			1,680				1,859,446
Pennsylvania Housing Finance Agency, RB, S/F Housing
Series 125B, AMT, 3.65%, 10/01/42			1,000				1,039,338
Series 128B, AMT, 3.85%, 04/01/38			965				1,024,370
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 119, AMT, 3.50%, 10/01/36			1,075				1,081,482
Pennsylvania Turnpike Commission, RB
Series A, 5.00%, 12/01/44			1,380				1,511,910
Series C, 5.00%, 12/01/23(b)			1,305				1,399,781
Series C, 5.00%, 12/01/43			415				442,209
Sub-Series B-1, 5.25%, 06/01/47			1,170				1,356,382
Series A, Subordinate, 5.00%, 12/01/44			2,080				2,464,161

Security		Par (000)				Value
Pennsylvania (continued)
Pennsylvania Turnpike Commission, RB (continued)
Series A, Subordinate, 4.00%, 12/01/49		$	1,075			$	1,186,617
Series A, Subordinate, 4.00%, 12/01/50			610				674,646
Pennsylvania Turnpike Commission, Refunding RB, 2nd Series, 5.00%, 12/01/41			1,250				1,458,911
Pottsville Hospital Authority, Refunding RB, Series B, 5.00%, 07/01/45			1,250				1,424,910
School District of Philadelphia, GO, Series A, (SAW), 4.00%, 09/01/46			1,870				2,087,143
Springfield School District/Delaware County, GO
(SAW), 5.00%, 03/01/40			865				1,016,233
(SAW), 5.00%, 03/01/43			590				691,351
Swarthmore Borough Authority, RB, 5.00%, 09/15/48			1,900				2,273,097
Westmoreland County Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/36			1,290				1,496,756
							51,947,826
Puerto Rico — 5.7%
Children’s Trust Fund, Refunding RB
5.50%, 05/15/39			1,115				1,145,936
5.63%, 05/15/43			1,200				1,224,293
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Refunding RB
Series A, Senior Lien, 5.00%, 07/01/33			4,505				4,586,788
Series A, Senior Lien, 5.13%, 07/01/37			1,270				1,293,454
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53			9,061				9,914,211
Series A-1, Restructured, 5.00%, 07/01/58			17,440				19,404,093
Series A-2, Restructured, 4.33%, 07/01/40			2,508				2,722,434
Series A-2, Restructured, 4.78%, 07/01/58			2,097				2,302,590
Series B-1, Restructured, 4.75%, 07/01/53			425				466,036
Series B-2, Restructured, 4.78%, 07/01/58			412				452,701
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB(d)
Series A-1, Restructured, 0.00%, 07/01/46			18,474				5,974,879
Series A-1, Restructured, 0.00%, 07/01/51			1,442				336,394
							49,823,809
Rhode Island — 2.2%
Rhode Island Health and Educational Building Corp., Refunding RB, Series A, (AGM, GTD), 3.75%, 05/15/32			1,155				1,261,693
Rhode Island Housing and Mortgage Finance Corp., 3.00%, 10/01/51(f)			1,570				1,650,645
Rhode Island Housing and Mortgage Finance Corp., RB, M/F Housing, Series 3-B, (FHA), 4.13%, 10/01/49			480				487,594
Rhode Island Student Loan Authority, RB, Series A, AMT, 3.63%, 12/01/37			880				888,695
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.00%, 06/01/35			1,000				1,094,258
Series A, 5.00%, 06/01/40			2,050				2,226,493
Series B, 4.50%, 06/01/45			6,005				6,370,692
Series B, 5.00%, 06/01/50			4,500				4,888,458
							18,868,528
South Carolina — 4.5%
Charleston County Airport District, ARB
Series A, AMT, 5.50%, 07/01/38			1,000				1,057,164
Series A, AMT, 6.00%, 07/01/38			1,695				1,803,714
Series A, AMT, 5.50%, 07/01/41			1,000				1,056,119

9

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
South Carolina (continued)
County of Berkeley South Carolina, SAB
4.25%, 11/01/40		$	315			$	338,448
4.38%, 11/01/49			470				500,578
County of Charleston South Carolina, ARB, 5.25%, 12/01/23(b)			3,705				3,996,891
South Carolina Jobs-Economic Development Authority, RB(a)
5.00%, 01/01/40			485				507,229
5.00%, 01/01/55			845				863,800
South Carolina Jobs-Economic Development Authority, RB, COP
5.00%, 04/01/44			200				224,494
4.00%, 04/01/49			200				213,267
5.00%, 04/01/49			270				300,095
4.00%, 04/01/54			210				223,754
5.00%, 04/01/54			490				543,337
South Carolina Jobs-Economic Development Authority, Refunding RB
5.00%, 02/01/38			2,875				3,236,557
Series A, 5.00%, 05/01/43			1,680				1,956,987
Series A, 4.25%, 05/01/48			1,445				1,582,739
Series A, 5.00%, 05/01/48			3,030				3,511,064
South Carolina Ports Authority, ARB
AMT, 5.25%, 07/01/25(b)			1,650				1,871,924
AMT, 5.00%, 07/01/55			710				812,819
South Carolina Public Service Authority, RB
Series A, 5.50%, 12/01/54			4,450				4,842,908
Series E, 5.00%, 12/01/48			440				469,091
Series E, 5.50%, 12/01/53			2,500				2,678,308
South Carolina Public Service Authority, Refunding RB
Series A, 5.00%, 12/01/36			175				200,078
Series A, 5.00%, 12/01/50			1,035				1,138,487
Series E, 5.25%, 12/01/55			4,685				5,267,064
							39,196,916
South Dakota — 0.2%
City of Rapid City South Dakota Sales Tax Revenue, RB, 4.00%, 12/01/26(b)			740				829,060
South Dakota Health & Educational Facilities Authority, Refunding RB, Series A, 4.00%, 09/01/50			705				780,028
							1,609,088
Tennessee — 1.6%
Chattanooga Health Educational & Housing Facility Board, RB, Series A, 5.25%, 01/01/23(b)			3,650				3,804,494
Chattanooga Health Educational & Housing Facility Board, Refunding RB, Series A, 4.00%, 08/01/44			115				125,394
Chattanooga-Hamilton County Hospital Authority, Refunding RB, Series A, 5.00%, 10/01/44			875				937,919
Greeneville Health & Educational Facilities Board, Refunding RB, Series A, 4.00%, 07/01/40			375				414,235
Johnson City Health & Educational Facilities Board, RB, Series A, 5.00%, 08/15/42			800				814,778
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40			1,530				1,725,834

Security		Par (000)				Value
Tennessee (continued)
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB
Series A, 4.00%, 10/01/49		$	230			$	242,492
Series A, 5.25%, 10/01/58			2,860				3,268,986
Metropolitan Nashville Airport Authority, ARB, Series B, AMT, 5.00%, 07/01/40			2,500				2,797,452
							14,131,584
Texas — 6.1%
Brazos Higher Education Authority, Inc., RB, Series 1B, AMT, Subordinate, 3.00%, 04/01/40			65				57,889
Central Texas Regional Mobility Authority, RB, Series E, Senior Lien, 4.00%, 01/01/50			1,555				1,723,043
Central Texas Regional Mobility Authority, Refunding RB, Sub Lien, 5.00%, 01/01/23(b)			430				446,600
City of Austin Texas Airport System Revenue, ARB, AMT, 5.00%, 11/15/39			440				480,810
City of Austin Texas Electric Utility Revenue, Refunding RB, Series A, 5.00%, 11/15/37			1,500				1,545,364
City of Beaumont Texas, GO, 5.25%, 03/01/23(b)			2,340				2,453,392
City of Houston Texas Airport System Revenue, RB, Series A, AMT, 6.63%, 07/15/38			225				225,882
City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27			130				148,532
City of Houston Texas Airport System Revenue, Refunding RB
Sub-Series D, 5.00%, 07/01/37			1,175				1,400,777
Series A, AMT, 5.00%, 07/01/27			125				142,650
Sub-Series A, AMT, 4.00%, 07/01/47			690				751,489
City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, Series A, 5.00%, 02/01/48			850				1,016,029
El Paso Independent School District, GO, (PSF), 4.00%, 08/15/43			890				990,010
Harris County Cultural Education Facilities Finance Corp., RB, Series B, 7.00%, 01/01/23(b)			565				597,498
Harris County-Houston Sports Authority, Refunding RB, Series G, Senior Lien, (NPFGC), 0.00%, 11/15/41(d)			11,690				4,350,328
Leander Independent School District, Refunding GO, CAB(d)
Series D, (PSF), 0.00%, 08/15/24(b)			370				214,728
Series D, (PSF), 0.00%, 08/15/35			3,630				2,090,985
Lower Colorado River Authority, Refunding RB, 5.50%, 05/15/33			2,240				2,356,955
Midland County Fresh Water Supply District No.1, RB, CAB(d)
Series A, 0.00%, 09/15/38			10,760				5,470,083
Series A, 0.00%, 09/15/40			2,525				1,145,913
Series A, 0.00%, 09/15/41			1,395				600,690
New Hope Cultural Education Facilities Finance Corp., RB
Series A, 5.00%, 04/01/25(b)			145				161,863
Series A, 5.00%, 08/15/50(a)			455				479,630
North Texas Tollway Authority, RB, CAB, Series B, 0.00%, 09/01/31(b)(d)			2,415				1,239,970
North Texas Tollway Authority, Refunding RB 4.25%, 01/01/49			3,165				3,479,440

S C H E D U L E O F I N V E S T M E N T S 10

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Texas (continued)
North Texas Tollway Authority, Refunding RB (continued)
Series A, 5.00%, 01/01/48		$	1,060			$	1,237,361
Port Authority of Houston of Harris County Texas, ARB, 4.00%, 10/01/46			2,635				3,054,508
Red River Education Finance Corp., RB, 5.25%, 03/15/23(b)			1,820				1,909,520
San Antonio Public Facilities Corp., Refunding RB, 4.00%, 09/15/42			1,355				1,373,771
San Antonio Water System, Refunding RB, Series A, Junior Lien, 5.00%, 05/15/48			945				1,119,628
Tarrant County Cultural Education Facilities Finance Corp., RB
Series B, 5.00%, 07/01/35			1,500				1,800,060
Series B, 5.00%, 07/01/48			3,330				3,921,185
Texas City Industrial Development Corp., RB, Series 2012, 4.13%, 12/01/45			255				267,080
Texas Department of Housing & Community Affairs, RB, S/F Housing, Series A, (GNMA), 4.25%, 09/01/43			155				162,697
Texas Private Activity Bond Surface Transportation Corp., RB, AMT, 5.00%, 06/30/58			1,095				1,270,939
Texas Transportation Commission, RB, Series A, 5.00%, 08/01/57			1,085				1,229,918
Texas Transportation Commission, RB, CAB(d)
0.00%, 08/01/35			270				166,834
0.00%, 08/01/36			145				84,964
0.00%, 08/01/37			195				107,928
0.00%, 08/01/38			200				104,799
0.00%, 08/01/39			1,000				496,954
0.00%, 08/01/43			795				318,203
0.00%, 08/01/44			870				329,330
0.00%, 08/01/45			1,135				407,614
							52,933,843
Utah — 0.5%
City of Salt Lake City Utah Airport Revenue, ARB, Series A, AMT, 5.00%, 07/01/43			530				615,634
County of Utah, RB
Series A, 4.00%, 05/15/43			155				175,929
Series A, 3.00%, 05/15/50			710				725,121
Salt Lake City Corp. Airport Revenue, ARB
Series A, AMT, 5.00%, 07/01/47			665				758,590
Series A, AMT, 5.00%, 07/01/48			640				740,789
Utah Charter School Finance Authority, RB
(UT), 5.00%, 10/15/48			360				413,947
Series A, 5.00%, 06/15/39(a)			200				210,574
Utah Charter School Finance Authority, Refunding RB
5.00%, 06/15/40(a)			150				168,523
(UT), 4.00%, 04/15/42			400				415,980
5.00%, 06/15/55(a)			385				424,190
							4,649,277
Vermont — 0.3%
University of Vermont and State Agricultural College, Refunding RB 4.00%, 10/01/37			500				530,878

Security		Par (000)				Value
Vermont (continued)
University of Vermont and State Agricultural College, Refunding RB (continued)
5.00%, 10/01/43		$	1,470			$	1,721,649
Vermont Student Assistance Corp., RB, Series A, AMT, 4.13%, 06/15/30			295				304,226
							2,556,753
Virginia — 1.5%
Ballston Quarter Community Development Authority, TA, Series A, 5.38%, 03/01/36			490				489,189
Hanover County Economic Development Authority, Refunding RB, Series A, 5.00%, 07/01/47			970				978,748
Henrico County Economic Development Authority, Refunding RB, 4.00%, 10/01/45			160				172,970
Virginia Beach Development Authority, Refunding RB
5.00%, 09/01/44			585				650,600
4.00%, 09/01/48			375				399,530
Virginia Housing Development Authority, RB, M/F Housing
Series 1, (FHLMC, FNMA, GNMA), 2.55%, 11/01/50			840				754,910
Series B, 4.00%, 06/01/53			385				400,853
Series D, 3.90%, 10/01/48			1,430				1,493,009
Virginia Small Business Financing Authority, RB
AMT, 5.00%, 01/01/48(a)(g)			470				487,485
AMT, 5.00%, 12/31/52			2,330				2,699,167
Virginia Small Business Financing Authority, Refunding RB
AMT, Senior Lien, 5.25%, 01/01/32			950				968,264
AMT, Senior Lien, 6.00%, 01/01/37			3,900				3,976,732
							13,471,457
Washington — 2.3%
Grant County Public Utility District No.2 Priest Rapids Hydroelectric Project, Refunding RB, Series A, 5.00%, 01/01/26(b)			1,555				1,779,862
King County Housing Authority, Refunding RB, 3.00%, 06/01/40			440				448,883
Port of Seattle Washington, ARB
Series A, AMT, 5.00%, 05/01/43			1,470				1,680,200
Series C, AMT, 5.00%, 04/01/40			930				1,012,602
Series C, AMT, Intermediate Lien, 5.00%, 05/01/37			1,450				1,674,750
State of Washington, COP
Series B, 5.00%, 07/01/36			1,000				1,193,998
Series B, 5.00%, 07/01/37			3,910				4,664,403
Series B, 5.00%, 07/01/38			650				775,026
State of Washington, GO, Series C, 5.00%, 02/01/36			1,300				1,544,587
Washington Health Care Facilities Authority, RB, Series A, 5.75%, 01/01/23(b)			2,820				2,953,296
Washington Health Care Facilities Authority, Refunding RB
5.00%, 09/01/55			285				337,363
Series A, 4.00%, 08/01/44			250				273,332
Washington State Housing Finance Commission, Refunding RB(a)
5.00%, 01/01/38			600				674,546
5.00%, 01/01/43			900				1,007,011
							20,019,859

11

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
West Virginia — 0.9%
West Virginia Hospital Finance Authority, RB, Series A, 4.00%, 06/01/51		$	2,910			$	3,139,043
West Virginia Parkways Authority, RB, Senior Lien, 4.00%, 06/01/51			4,055				4,574,502
							7,713,545
Wisconsin — 1.2%
Public Finance Authority, RB
Series A, 4.00%, 11/15/37			100				112,764
Series A, 5.00%, 07/15/39(a)			100				109,732
Series A, 5.00%, 10/15/40(a)			425				458,091
Series A, 5.00%, 11/15/41			270				319,430
Series A, 5.00%, 07/15/49(a)			245				264,806
Series A, 5.00%, 10/15/50(a)			540				575,799
Series A, 5.00%, 07/15/54(a)			115				123,867
Series A, 5.00%, 07/01/55(a)			300				318,044
Series A, 5.00%, 10/15/55(a)			560				595,746
Series A-1, 4.50%, 01/01/35(a)			230				244,364
Series A-1, 5.00%, 01/01/55(a)			305				327,613
Public Finance Authority, Refunding RB
5.00%, 09/01/49(a)			165				174,125
5.00%, 09/01/54(a)			130				137,191
Series A, 4.00%, 10/01/49			2,000				2,197,120
Series A, 5.00%, 11/15/49			335				374,404
AMT, 4.00%, 08/01/35			280				279,108
Wisconsin Health & Educational Facilities Authority, Refunding RB, 5.00%, 04/01/44			2,005				2,406,589
Wisconsin Housing & Economic Development Authority, RB, M/F Housing
Series A, 3.15%, 11/01/44			480				488,640
Series A, 4.45%, 05/01/57			575				613,114
WPPI Energy, Refunding RB, Series A, 5.00%, 07/01/37			665				721,157
							10,841,704
Wyoming — 0.0%
Wyoming Municipal Power Agency, Inc., Refunding RB, Series A, (BAM), 5.00%, 01/01/27(b)			330				387,138
Total Municipal Bonds — 122.8% (Cost: $994,990,041)							1,071,504,762
Municipal Bonds Transferred to Tender Option Bond Trusts(j)
Arizona — 0.1%
Maricopa County Industrial Development Authority, RB, Series A, 4.00%, 01/01/41			915				1,011,317
California — 3.3%
Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/42(k)			3,896				4,228,847
California Health Facilities Financing Authority, Refunding RB, 4.00%, 08/15/48			3,675				4,160,125
Los Angeles Unified School District, GO, Series B-1, 5.25%, 07/01/42(k)			1,451				1,731,770
Sacramento Area Flood Control Agency, Refunding SAB
5.00%, 10/01/47			8,384				9,642,334
Series A, 5.00%, 10/01/43			2,775				3,192,617

Security		Par (000)				Value
California (continued)
San Diego County Regional Airport Authority, ARB(k)
Series B, AMT, Subordinate, 4.00%, 07/01/56		$	1,592			$	1,734,263
Series B, AMT, Subordinate, 5.00%, 07/01/56			3,526				4,151,259
							28,841,215
Colorado — 1.6%
City & County of Denver Colorado Airport System Revenue, Refunding ARB(k)
Series A, AMT, 5.25%, 12/01/43			1,901				2,285,811
Series A, AMT, 5.25%, 12/01/48			1,664				1,977,775
Colorado Health Facilities Authority, Refunding RB(k)
Series A, 5.00%, 08/01/44			1,950				2,302,724
Series A, 4.00%, 08/01/49			2,490				2,714,660
County of Adams Colorado, Refunding COP, 4.00%, 12/01/45			4,650				4,962,272
							14,243,242
Connecticut — 0.7%
Connecticut State Health & Educational Facilities Authority, Refunding RB, 5.00%, 12/01/45			5,687				6,427,903
District of Columbia — 0.7%
District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, (FHA), 4.10%, 09/01/39			1,300				1,391,007
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB, Series B, Subordinate, (AGM), 4.00%, 10/01/53			1,299				1,418,733
Washington Metropolitan Area Transit Authority, RB, Series B, 5.00%, 07/01/42			2,992				3,497,636
							6,307,376
Florida — 1.4%
City of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/47			1,290				1,497,324
City of Tampa Florida, RB, Series A, 4.00%, 11/15/46			1,932				2,075,690
County of Broward Florida Port Facilities Revenue, ARB, Series B, AMT, 4.00%, 09/01/49			2,350				2,564,549
Escambia County Health Facilities Authority, Refunding RB, 4.00%, 08/15/45(k)			1,771				1,912,184
Greater Orlando Aviation Authority, ARB, Series A, AMT, 4.00%, 10/01/49(k)			3,543				3,903,116
							11,952,863
Georgia — 0.7%
Dalton Whitfield County Joint Development Authority, RB, 4.00%, 08/15/48			3,647				3,956,277
Georgia Housing & Finance Authority, Refunding RB
Series A, 3.60%, 12/01/44			1,042				1,082,840
Series A, 3.70%, 06/01/49			1,022				1,084,171
							6,123,288
Idaho — 0.2%
Idaho State Building Authority, RB, Series A, 4.00%, 09/01/48			1,700				1,897,371
Illinois — 1.1%
City of Chicago IIllinois Waterworks Revenue, Refunding RB, 2nd Lien, (AGM), 5.25%, 11/01/33			480				481,679
Illinois Finance Authority, Refunding RB
Series C, 4.00%, 02/15/27(b)			5				5,585
Series C, 4.00%, 02/15/41			2,033				2,226,402
Illinois State Toll Highway Authority, RB Series A, 5.00%, 01/01/40			825				915,230

S C H E D U L E O F I N V E S T M E N T S 12

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Illinois (continued)
Illinois State Toll Highway Authority, RB (continued)
Series B, 5.00%, 01/01/40		$	3,329			$	3,730,681
Series C, 5.00%, 01/01/38			2,252				2,475,594
							9,835,171
Iowa — 0.2%
Iowa Finance Authority, Refunding RB, Series E, 4.00%, 08/15/46			1,455				1,536,436
Louisiana — 0.9%
City of Shreveport Louisiana Water & Sewer Revenue, RB
Series B, Junior Lien, (AGM), 4.00%, 12/01/44			2,043				2,230,346
Series B, Junior Lien, (AGM), 4.00%, 12/01/49			4,105				4,480,680
State of Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, Series A, 1st Lien, 4.00%, 05/01/25(b)			1,245				1,356,503
							8,067,529
Maryland — 1.7%
City of Baltimore Maryland, RB
Series A, 5.00%, 07/01/46			3,014				3,467,145
Series A, 4.00%, 07/01/49			3,122				3,487,151
Maryland Stadium Authority, RB
5.00%, 05/01/42			1,740				2,038,418
5.00%, 05/01/47			4,894				5,807,173
							14,799,887
Massachusetts — 1.0%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, Series A, 4.00%, 06/01/45			1,502				1,603,013
Commonwealth of Massachusetts, GO, Series A, 5.00%, 01/01/46			1,982				2,334,737
Massachusetts Development Finance Agency, Refunding RB, 5.00%, 07/01/47			3,359				3,806,848
Massachusetts Housing Finance Agency, RB, M/F Housing, Series A-1, (FHA), 3.10%, 06/01/60			1,111				1,068,322
							8,812,920
Michigan — 2.0%
Michigan Finance Authority, RB
4.00%, 02/15/47			5,486				6,069,637
Series A, 4.00%, 02/15/44(k)			1,912				2,114,154
Michigan State Building Authority, Refunding RB, Series I, 5.00%, 10/15/45			5,670				6,357,700
Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.05%, 10/01/48			2,337				2,474,821
Michigan State Housing Development Authority, RB, S/F Housing, Series C, 3.90%, 12/01/33			210				210,168
							17,226,480
Nevada — 0.3%
County of Clark Nevada, GO, Series A, 5.00%, 05/01/48			2,260				2,649,287
New Jersey — 2.2%
New Jersey Health Care Facilities Financing Authority, RB, 4.00%, 07/01/51			17,235				19,432,807
New York — 4.9%
City of New York, GO, Sub-Series-D1, Series D, 5.00%, 12/01/43(k)			2,620				3,118,165
City of New York, Refunding GO, Series B, 4.00%, 08/01/32			3,990				4,238,320

Security		Par (000)				Value
New York (continued)
New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38		$	2,970			$	3,169,144
New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-1, (SAW), 4.00%, 07/15/42(k)			1,395				1,412,401
New York City Water & Sewer System, Refunding RB
Series BB, 4.00%, 06/15/47			3,660				3,731,331
Series CC, 5.00%, 06/15/23(b)			2,820				2,967,369
Series CC, 5.00%, 06/15/47			3,181				3,346,590
Series FF, 5.00%, 06/15/45			3,019				3,061,211
New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60			947				1,052,316
New York State Dormitory Authority, Refunding RB, Series D, 4.00%, 02/15/47			4,317				4,768,151
New York State Thruway Authority, Refunding RB, Series B, Subordinate, 4.00%, 01/01/50			2,083				2,283,816
New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/46			4,846				5,321,194
Port Authority of New York & New Jersey, ARB, Series 221, AMT, 4.00%, 07/15/60			854				927,706
Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55			3,210				3,622,441
							43,020,155
North Carolina — 0.8%
North Carolina Capital Facilities Finance Agency, Refunding RB, Series B, 5.00%, 10/01/25(b)			5,550				6,295,010
North Carolina Housing Finance Agency, RB, S/F Housing, Series 39-B, (FHLMC, FNMA, GNMA), 4.00%, 01/01/48			446				481,060
							6,776,070
Ohio — 0.8%
Ohio State University, RB, 4.00%, 12/01/48			5,700				6,596,177
Pennsylvania — 2.5%
Commonwealth of Pennsylvania, GO(k)
1st Series, 4.00%, 03/01/36			1,559				1,751,994
1st Series, 4.00%, 03/01/38			3,650				4,092,185
County of Lehigh Pennsylvania, Refunding RB, Series A, 4.00%, 07/01/49(k)			2,996				3,274,344
Northampton County General Purpose Authority, Refunding RB, 4.00%, 11/01/38(k)			2,596				2,929,076
Pennsylvania Turnpike Commission, RB, Sub- Series A, 5.50%, 12/01/42			4,019				4,701,025
Pennsylvania Turnpike Commission, Refunding RB, Sub-Series B-2, (AGM), 5.00%, 06/01/35			1,640				1,926,095
Westmoreland County Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/38			2,533				2,809,889
							21,484,608
Rhode Island — 0.4%
Narragansett Bay Commission, Refunding RB, Series A, 4.00%, 09/01/22(b)			1,140				1,163,348
Rhode Island Health and Educational Building Corp., RB, Series A, 4.00%, 09/15/47			1,982				2,193,671
							3,357,019
South Carolina — 0.2%
South Carolina Ports Authority, ARB, Series B, AMT, 4.00%, 07/01/49(k)			1,665				1,816,612

13

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Texas — 5.1%
Board of Regents of the University of Texas System, Refunding RB, Series B, 5.00%, 08/15/43		$	3,842			$	3,918,404
City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/23(b)			4,560				4,750,100
County of Hidalgo Texas, GO, Series A, 4.00%, 08/15/43			2,297				2,534,302
El Paso Independent School District, GO, (PSF-GTD), 4.00%, 08/15/48			2,999				3,357,053
Harris County Toll Road Authority, Refunding RB, Series A, Senior Lien, 5.00%, 08/15/43			1,858				2,211,735
Houston Community College System, GO, 4.00%, 02/15/23(b)			4,394				4,538,035
Howe Independent School District, GO, (PSF-GTD), 4.00%, 08/15/43			1,095				1,189,816
Lower Colorado River Authority, Refunding, RB, 4.00%, 05/15/43			1,504				1,515,175
San Antonio Public Facilities Corp., Refunding RB, 4.00%, 09/15/42			3,794				3,846,728
San Antonio Water System, Refunding RB, Series C, Junior Lien, 5.00%, 05/15/46			1,515				1,744,679
Tarrant County Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 05/15/23(b)			4,456				4,691,088
Texas Department of Housing & Community Affairs, RB, S/F Housing
Series A, (GNMA), 3.63%, 09/01/44			1,389				1,445,247
Series A, (GNMA), 3.00%, 09/01/45			905				899,430
Series A, (GNMA), 3.75%, 09/01/49			1,191				1,239,911
Series A, (GNMA), 3.00%, 03/01/50			905				899,430
Texas Water Development Board, RB, Series A, 4.00%, 10/15/49			5,020				5,685,268
							44,466,401
Virginia — 1.7%
Fairfax County Economic Development Authority, RB, 5.00%, 04/01/47(k)			2,320				2,683,150
Hampton Roads Transportation Accountability Commission, RB
Series A, Senior Lien, 5.00%, 07/01/48			1,996				2,336,879
Series A, Senior Lien, 5.50%, 07/01/57(k)			1,338				1,607,088
Series A, Senior Lien, 4.00%, 07/01/60(k)			2,175				2,441,745
Virginia Small Business Financing Authority, Refunding RB, Series A, 4.00%, 12/01/49			5,320				5,910,237
							14,979,099
Washington — 0.6%
Washington Health Care Facilities Authority, Refunding RB, Series B, 4.13%, 08/15/43			1,446				1,530,238
Washington State Convention Center Public Facilities District RB, 3.00%, 07/01/58			3,717				3,426,648
							4,956,886
West Virginia — 0.2%
Morgantown Utility Board, Inc., RB, Series B, 4.00%, 12/01/48(k)			1,511				1,651,898
Wisconsin — 1.1%
Wisconsin Health & Educational Facilities Authority, Refunding RB
4.00%, 12/01/46			2,059				2,196,198

Security		Par (000)				Value
Wisconsin (continued)
Wisconsin Health & Educational Facilities Authority, Refunding RB (continued)
4.00%, 12/15/49(k)		$	2,140			$	2,363,153
Wisconsin Housing & Economic Development Authority, RB, M/F Housing
Series A, 4.10%, 11/01/43			1,342				1,432,335
Series A, 4.30%, 11/01/53			1,395				1,483,743
Series A, 4.45%, 05/01/57			1,678				1,790,419
							9,265,848
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 36.4% (Cost: $304,948,411)							317,535,865
Total Long-Term Investments — 159.2% (Cost: $1,299,938,452)							1,389,040,627

		Shares
Short-Term Securities
Money Market Funds — 3.2%
BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(l)(m)			27,957,983				27,957,983
Total Short-Term Securities — 3.2% (Cost: $27,960,750)							27,957,983
Total Investments — 162.4% (Cost: $1,327,899,202)							1,416,998,610
Liabilities in Excess of Other Assets — (1.4)%							(12,340,591	)
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (21.1)%							(184,450,013	)
VMTP Shares at Liquidation Value — (39.9)%							(347,800,000	)
Net Assets Applicable to Common Shares — 100.0%						$	872,408,006

^(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)  Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect.

^(d) Zero-coupon bond.

^(e) Security is collateralized by municipal bonds or U.S. Treasury obligations.

^(f)  When-issued security.

^(g) Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

^(h) Issuer filed for bankruptcy and/or is in default.

⁽ⁱ⁾ Non-income producing security.

^(j)  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.

^(k)  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 2, 2022 to July 1, 2029, is $33,650,516.

^(l)  Affiliate of the Fund.

^(m) Annualized 7-day yield as of period end.

S C H E D U L E O F I N V E S T M E N T S 14

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD)

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

				Affiliated Issuer		Value at 04/30/21				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 01/31/22				Shares Held at 01/31/22				Income				Capital Gain Distributions from Underlying Funds
				BlackRock Liquidity Funds, MuniCash, Institutional Class		$	7,843,901			$	20,118,066	(a)		$	—			$	(1,217	)		$	(2,767	)		$	27,957,983				27,957,983			$	1,779			$	—

^(a)  Represents net amount purchased (sold).

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

		Description		Number of Contracts				Expiration Date				Notional Amount (000)				Value/ Unrealized Appreciation (Depreciation)
		Short Contracts
		10-Year U.S. Treasury Note			115				03/22/22			$	14,716			$	370,755
		U.S. Long Bond			77				03/22/22				11,976				636,492
		5-Year U.S. Treasury Note			85				03/31/22				10,134				192,827
																$	1,200,074

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. 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); and

• 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 financial instruments).

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 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 financial instruments is based on the pricing transparency of the financial instruments 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 financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments 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		$	—			$	1,071,504,762			$	—			$	1,071,504,762
Municipal Bonds Transferred to Tender Option Bond Trusts			—				317,535,865				—				317,535,865

15

Schedule of Investments (unaudited) (continued) January 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD)     

Fair Value Hierarchy as of Period End (continued)

		Level 1				Level 2				Level 3				Total
Short-Term Securities
Money Market Funds		$	27,957,983			$	—			$	—			$	27,957,983
		$	27,957,983			$	1,389,040,627			$	—			$	1,416,998,610
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts		$	1,200,074			$	—			$	—			$	1,200,074

^(a)  Derivative financial instruments are futures contracts. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument.

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 fair value hierarchy as follows:

		Level 1				Level 2				Level 3				Total
Liabilities
TOB Trust Certificates		$	—			$	(184,403,923	)		$	—			$	(184,403,923	)
VMTP Shares at Liquidation Value			—				(347,800,000	)			—				(347,800,000	)
		$	—			$	(532,203,923	)		$	—			$	(532,203,923	)

Portfolio Abbreviation
AGC		Assured Guaranty Corp.
AGM		Assured Guaranty Municipal Corp.
AMT		Alternative Minimum Tax
ARB		Airport Revenue Bonds
BAM		Build America Mutual Assurance Co.
CAB		Capital Appreciation Bonds
COP		Certificates of Participation
FHA		Federal Housing Administration
FHLMC		Federal Home Loan Mortgage Corp.
FNMA		Federal National Mortgage Association
GNMA		Government National Mortgage Association
GO		General Obligation Bonds
GTD		GTD Guaranteed
M/F		Multi-Family
NPFGC		National Public Finance Guarantee Corp.
PSF		Permanent School Fund
PSF-GTD		Permanent School Fund Guaranteed
RB		Revenue Bond
S/F		Single-Family
SAB		Special Assessment Bonds
SAW		State Aid Withholding
SONYMA		State of New York Mortgage Agency
ST		Special Tax
TA		Tax Allocation

S C H E D U L E O F I N V E S T M E N T S 16