NPORT-EX 2 NPORT_LCQD_75939016_1022.htm

BlackRock MuniHoldings Fund

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

Security		Par (000)				Value
Municipal Bonds
Alabama — 1.7%
Black Belt Energy Gas District, RB, Series F, 5.50%, 11/01/53(a)		$	1,115			$	1,127,515
County of Jefferson Alabama Sewer Revenue, Refunding RB
Series A, Senior Lien, (AGM), 5.00%, 10/01/44			570				574,548
Series A, Senior Lien, (AGM), 5.25%, 10/01/48			1,090				1,103,883
Series D, Sub Lien, 6.00%, 10/01/42			2,875				2,993,697
Series D, Sub Lien, 7.00%, 10/01/51			1,545				1,642,877
Health Care Authority of the City of Huntsville, RB
Series B1, 4.00%, 06/01/45			315				259,198
Series B1, (AGM), 3.00%, 06/01/50			865				569,263
Opelika Utilities Board, Refunding RB, 4.00%, 06/01/41			960				846,464
Southeast Energy Authority A Cooperative District, RB, Series A-1, 5.50%, 01/01/53(a)(b)			1,890				1,926,513
							11,043,958
Alaska — 0.2%
Northern Tobacco Securitization Corp., Refunding RB, Series A, Class 1, 4.00%, 06/01/50			1,890				1,478,137
Arizona — 2.8%
Arizona Industrial Development Authority, RB
4.38%, 07/01/39(c)			575				496,181
Series A, 5.00%, 07/01/39(c)			480				441,334
Series A, (BAM), 4.00%, 06/01/44			425				368,513
Series A, 5.00%, 07/01/49(c)			550				473,784
Series A, 5.00%, 07/01/54(c)			425				357,226
Arizona Industrial Development Authority, Refunding RB(c)
Series A, 5.50%, 07/01/52			130				120,868
Series G, 5.00%, 07/01/47			435				379,737
Glendale Industrial Development Authority, RB 5.00%, 05/15/41			65				57,642
5.00%, 05/15/56			575				473,322
Industrial Development Authority of the City of Phoenix, RB, Series A, 5.00%, 07/01/46(c)			2,120				1,858,950
Industrial Development Authority of the County of Pima, RB, 5.00%, 07/01/34(c)			400				380,196
Industrial Development Authority of the County of Pima, Refunding RB, 5.00%, 06/15/52(c)			260				207,651
Maricopa County Industrial Development Authority, Refunding RB 5.00%, 07/01/39(c)			215				196,639
5.00%, 07/01/54(c)			490				415,282
Series A, 4.13%, 09/01/38			775				692,621
Maricopa County Pollution Control Corp., Refunding RB, Series B, 3.60%, 04/01/40			1,400				1,117,424
Salt Verde Financial Corp., RB 5.00%, 12/01/32			3,500				3,450,961
5.00%, 12/01/37			6,845				6,726,205
							18,214,536
Arkansas — 1.1%
Arkansas Development Finance Authority, RB(c)
Series A, AMT, 4.50%, 09/01/49			3,095				2,427,721
Series A, AMT, 4.75%, 09/01/49			1,520				1,234,407
City of Benton Arkansas, RB, (AGM), 4.00%, 06/01/39			505				473,301

Security		Par (000)				Value
Arkansas (continued)
City of Fort Smith Arkansas Water & Sewer Revenue, Refunding RB, Subordinate, 4.00%, 10/01/40		$	840			$	713,604
City of Little Rock Arkansas, RB, 4.00%, 07/01/41			1,835				1,596,744
Pulaski County Public Facilities Board, RB, 5.00%, 12/01/42			465				463,882
							6,909,659
California — 10.4%
California Health Facilities Financing Authority, Refunding RB
Series A, 5.00%, 07/01/23(d)			1,320				1,336,377
Series A, 4.00%, 04/01/45			1,030				840,299
Series A, 4.00%, 08/15/48			6,335				5,452,718
California Municipal Finance Authority, ARB, AMT, Senior Lien, 5.00%, 12/31/43			800				758,189
California Municipal Finance Authority, RB, S/F Housing
Series A, 5.25%, 08/15/39			185				185,340
Series A, 5.25%, 08/15/49			460				460,523
California Pollution Control Financing Authority, RB, Series A, AMT, 5.00%, 11/21/45(c)			1,755				1,659,933
California State Public Works Board, RB
Series F, 5.25%, 09/01/33			1,230				1,248,680
Series I, 5.50%, 11/01/30			2,500				2,554,985
Series I, 5.00%, 11/01/38			955				966,503
California Statewide Communities Development Authority, Refunding RB
4.00%, 03/01/42			1,000				845,854
4.00%, 03/01/48			1,345				1,071,973
Carlsbad Unified School District, Refunding GO, Series B, 6.00%, 05/01/34(e)			1,000				1,038,023
City of Los Angeles Department of Airports, ARB, Series A, AMT, 4.00%, 05/15/49			5,750				4,432,594
City of Los Angeles Department of Airports, Refunding ARB, Series D, AMT, Subordinate, 5.00%, 05/15/46			830				811,144
CMFA Special Finance Agency XII, RB, M/F Housing, Series A, 3.25%, 02/01/57(c)			655				404,411
CSCDA Community Improvement Authority, RB, M/F Housing(c)
4.00%, 10/01/56			305				223,245
4.00%, 12/01/56			440				281,461
Series A, 4.00%, 06/01/58			1,860				1,359,362
Senior Lien, 3.13%, 06/01/57			1,595				964,241
Series A, Senior Lien, 4.00%, 12/01/58			945				641,736
Hartnell Community College District, GO, CAB, Series D, 7.00%, 08/01/34(e)			1,650				1,904,265
Kern Community College District, GO, Series C, 5.50%, 11/01/23(d)			2,445				2,500,709
Los Angeles Unified School District, GO, Election of 2008, 5.25%, 07/01/42			1,180				1,237,851
Norwalk-La Mirada Unified School District, Refunding GO, Series E, Election 2002, (AGC), 0.00%, 08/01/38(f)			8,000				3,756,792
Palomar Community College District, GO
Series B, Convertible, 6.20%, 08/01/39(e)			2,605				2,566,165
Series B, Election 2006, 0.00%, 08/01/30(f)			1,500				1,135,776
Regents of the University of California Medical Center Pooled Revenue, Refunding RB
Series J, 5.25%, 05/15/23(d)			5,005				5,062,262
Series J, 5.25%, 05/15/38			1,420				1,431,201

1

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

Security		Par (000)				Value
California (continued)
Riverside County Redevelopment Successor Agency, Refunding TA, Series A, (BAM), 4.00%, 10/01/39		$	1,550			$	1,417,224
San Diego Community College District, GO, CAB, Election 2002, 6.00%, 08/01/27(d)(e)			2,800				3,131,111
San Diego County Regional Airport Authority, ARB
Series B, AMT, 5.00%, 07/01/42			1,515				1,477,314
Series B, AMT, Subordinate, 4.00%, 07/01/56			1,595				1,223,590
San Diego Unified School District, GO(f)
Class A, 0.00%, 07/01/29			2,930				2,307,270
Class A, 0.00%, 07/01/29(g)			2,385				1,858,695
Series A, 0.00%, 07/01/29(g)			685				533,839
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding ARB
Series A, AMT, 5.50%, 05/01/28			1,085				1,094,544
Series A, AMT, 5.25%, 05/01/33			850				852,024
Series A, AMT, 5.00%, 05/01/44			1,090				1,055,803
San Francisco City & County Airport Comm-San Francisco International Airport, Refunding RB, Series A, AMT, 4.00%, 05/01/52			1,705				1,360,957
State of California, Refunding GO, 5.00%, 02/01/38			3,000				3,011,331
Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23(d)			440				452,318
Washington Township Health Care District, GO, Series B, Election 2004, 5.50%, 08/01/40			920				932,327
							67,840,959
Colorado — 4.5%
Arapahoe County School District No.6 Littleton, GO, Series A, (SAW), 5.50%, 12/01/43			1,260				1,347,870
Board of Governors of Colorado State University System, Refunding RB, Series C, (ST HGR ED INTERCEPT PROG), 4.00%, 03/01/47			5,650				4,734,576
City & County of Denver Colorado Airport System Revenue, ARB
Series B, 5.25%, 11/15/32			3,250				3,308,172
Series A, AMT, 5.50%, 11/15/28			1,000				1,015,501
Series A, AMT, 5.50%, 11/15/30			340				345,136
Series A, AMT, 5.50%, 11/15/31			405				411,066
City & County of Denver Colorado Airport System Revenue, Refunding ARB, Series A, AMT, 5.50%, 11/15/53			4,755				4,826,615
City & County of Denver Colorado Dedicated Excise Tax Revenue, RB, CAB(f)
Series A-2, 0.00%, 08/01/37			1,490				743,644
Series A-2, 0.00%, 08/01/38			915				451,480
Colorado Educational & Cultural Facilities Authority, RB
(ST HGR ED INTERCEPT PROG), 5.50%, 07/01/40			2,510				2,511,009
5.00%, 03/01/50(c)			360				305,360
Colorado Educational & Cultural Facilities Authority, Refunding RB, Class A, 5.00%, 10/01/59(c)			1,690				1,356,428
Colorado Health Facilities Authority, RB 5.50%, 11/01/47			480				485,321
5.25%, 11/01/52			1,000				981,742
Colorado Health Facilities Authority, Refunding RB
Series A, 4.00%, 08/01/44			1,285				1,036,069
Series A, 5.00%, 08/01/44			1,950				1,869,972
Series A, 3.25%, 08/01/49			1,415				945,412

Security		Par (000)				Value
Colorado (continued)
Colorado Health Facilities Authority, Refunding RB (continued)
Series A, 4.00%, 08/01/49(b)		$	1,485			$	1,150,630
Denver International Business Center Metropolitan District No.1, GO, Series A, 4.00%, 12/01/48			555				448,252
State of Colorado, COP, BAB, Series O, 4.00%, 03/15/44			930				824,017
							29,098,272
Connecticut — 1.4%
Connecticut Housing Finance Authority, Refunding RB, M/F Housing, Series A-1, 3.50%, 11/15/51			1,260				1,178,966
Connecticut State Health & Educational Facilities Authority, Refunding RB 5.00%, 12/01/45(b)			5,685				5,449,277
Series I-1, 5.00%, 07/01/42			590				591,804
State of Connecticut, GO, Series A, 4.00%, 01/15/37			1,985				1,857,372
							9,077,419
Delaware — 0.7%
County of Kent Delaware, RB
Series A, 5.00%, 07/01/40			330				292,630
Series A, 5.00%, 07/01/48			900				747,236
Delaware State Health Facilities Authority, RB
5.00%, 06/01/43			820				795,929
5.00%, 06/01/48			1,395				1,319,512
Delaware Transportation Authority, RB, 5.00%, 06/01/55			1,790				1,736,590
							4,891,897
District of Columbia — 3.8%
District of Columbia, Refunding RB 5.00%, 04/01/35			315				318,359
Catholic Health Services, 5.00%, 10/01/48			1,695				1,671,300
District of Columbia, TA, 5.13%, 06/01/41			1,520				1,520,295
Metropolitan Washington Airports Authority Aviation Revenue, Refunding ARB
Series A, AMT, 4.00%, 10/01/40			1,150				995,649
Series A, AMT, 4.00%, 10/01/41			2,470				2,113,194
Metropolitan Washington Airports Authority Dulles Toll Road Revenue, Refunding RB
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/34(f)			10,170				5,743,487
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/35(f)			13,485				7,143,490
Class B, Subordinate, (AGM), 4.00%, 10/01/53			1,300				1,027,783
Series B, Subordinate, 4.00%, 10/01/49			1,255				999,009
Washington Metropolitan Area Transit Authority, RB, Series B, 5.00%, 07/01/42			3,000				3,064,434
							24,597,000
Florida — 6.7%
Broward County Florida Water & Sewer Utility Revenue, RB, Series A, 4.00%, 10/01/47			585				518,290
Capital Projects Finance Authority, Refunding RB
Series A-1, 5.00%, 10/01/32			140				136,978
Series A-1, 5.00%, 10/01/33			155				150,073
Series A-1, 5.00%, 10/01/34			155				148,625
Series A-1, 5.00%, 10/01/35			50				47,445
Capital Trust Agency, Inc., RB 5.00%, 01/01/55(c)			305				240,254

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) October 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%, 06/01/45(c)		$	480			$	385,992
Series A, 5.00%, 12/15/49			160				144,235
Series A, 5.00%, 12/15/54			140				121,885
Series A, 5.50%, 06/01/57(c)			170				138,530
Central Florida Expressway Authority, Refunding RB, Senior Lien, 5.00%, 07/01/48			2,760				2,791,006
City of Tampa Florida, RB, CAB(f)
Series A, 0.00%, 09/01/49			285				60,601
Series A, 0.00%, 09/01/53			300				50,927
Collier County Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45			1,755				1,756,952
County of Broward Florida Airport System Revenue, ARB, Series A, AMT, 5.00%, 10/01/45			2,845				2,699,427
County of Miami-Dade Seaport Department, ARB(d)
Series A, 5.38%, 10/01/23			1,015				1,034,406
Series A, 6.00%, 10/01/23			5,215				5,343,805
Series B, AMT, 6.00%, 10/01/23			4,750				4,849,246
Series B, AMT, 6.25%, 10/01/23			460				471,100
County of Osceola Florida Transportation Revenue, Refunding RB(f)
Series A-2, 0.00%, 10/01/41			275				90,148
Series A-2, 0.00%, 10/01/42			370				114,060
Series A-2, 0.00%, 10/01/43			335				96,825
Series A-2, 0.00%, 10/01/44			345				93,174
Series A-2, 0.00%, 10/01/45			285				71,937
Series A-2, 0.00%, 10/01/46			625				148,176
Series A-2, 0.00%, 10/01/47			605				134,431
Series A-2, 0.00%, 10/01/48			430				89,422
Series A-2, 0.00%, 10/01/49			355				61,643
Cypress Bluff Community Development District, SAB, Series A, 3.80%, 05/01/50(c)			430				287,260
Esplanade Lake Club Community Development District, SAB, Series A-1, 4.13%, 11/01/50			615				471,276
Florida Development Finance Corp., RB 6.50%, 06/30/57(c)			925				846,089
Series A, 5.00%, 06/15/40			155				145,711
Series A, 5.00%, 06/15/50			520				464,720
Series A, 5.00%, 06/15/55			310				272,334
AMT, 5.00%, 05/01/29(c)			270				252,895
Florida Development Finance Corp., Refunding RB, Series C, 5.00%, 09/15/50(c)			270				225,347
Florida Housing Finance Corp., RB, S/F Housing, Series 1, (FHLMC, FNMA, GNMA), 3.50%, 07/01/52			3,515				3,345,535
Hillsborough County Aviation Authority, Refunding RB, Sub-Series A, AMT, 5.50%, 10/01/23(d)			1,735				1,763,038
Lee County Housing Finance Authority, RB, S/F Housing, Series A-2, AMT, (FHLMC, FNMA, GNMA), 6.00%, 09/01/40			25				25,010
Miami-Dade County Educational Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/40			3,465				3,481,902
Miami-Dade County Seaport Department, Refunding RB, Series A-1, AMT, (AGM), 4.00%, 10/01/45			2,180				1,823,829
Orange County Health Facilities Authority, Refunding RB, 5.00%, 08/01/41			1,305				1,360,289
Palm Beach County Health Facilities Authority, RB, Series B, 5.00%, 11/15/42			210				197,309

Security		Par (000)				Value
Florida (continued)
Palm Beach County Health Facilities Authority, Refunding RB, 4.00%, 08/15/49		$	1,185			$	921,750
Reedy Creek Improvement District, GO, Series A, 5.25%, 06/01/23(d)			1,785				1,806,174
Southern Groves Community Development District No.5, Refunding SAB, 4.00%, 05/01/43			220				172,517
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			630				490,786
4.00%, 05/01/51			1,050				722,709
Volusia County Educational Facility Authority, Refunding RB, 5.00%, 10/15/49			1,265				1,274,751
Westside Community Development District, SAB, 4.00%, 05/01/50			815				601,172
							43,448,889
Georgia — 3.6%
Dalton Whitfield County Joint Development Authority, 4.00%, 08/15/48			3,640				2,993,460
Development Authority for Fulton County, RB, 4.00%, 06/15/49			470				411,794
East Point Business & Industrial Development Authority, RB, Series A, 5.25%, 06/15/62(c)			535				446,446
Georgia Housing & Finance Authority, RB, S/F Housing
3.60%, 12/01/44			1,045				827,754
Series A, 3.95%, 12/01/43			120				120,266
Series A, 4.00%, 12/01/48			170				170,382
Series B, 2.50%, 06/01/50			520				303,906
Georgia Housing & Finance Authority, Refunding RB, S/F Housing, Series A, 4.00%, 06/01/49			1,645				1,642,990
Georgia Ports Authority, RB, 4.00%, 07/01/52			1,915				1,595,712
Griffin-Spalding County Hospital Authority, RB, 4.00%, 04/01/42			2,310				1,965,805
Main Street Natural Gas Inc., RB
Series A, 5.00%, 05/15/35			360				350,202
Series A, 5.00%, 05/15/36			1,860				1,799,271
Series A, 5.00%, 05/15/37			400				383,154
Series A, 5.00%, 05/15/38			1,265				1,202,138
Series A, 5.00%, 05/15/43			330				305,428
Series A, 5.00%, 05/15/49			4,575				4,152,842
Municipal Electric Authority of Georgia, RB 5.00%, 01/01/48			835				765,615
4.00%, 01/01/49			2,105				1,662,374
5.00%, 01/01/56			350				323,267
4.00%, 01/01/59			1,335				1,021,441
Municipal Electric Authority of Georgia, Refunding RB
Sub-Series A, 4.00%, 01/01/49			700				562,395
Series A, Subordinate, 4.00%, 01/01/51			615				489,327
							23,495,969
Hawaii — 0.4%
State of Hawaii Airports System Revenue, ARB, Series A, AMT, 5.00%, 07/01/45			1,500				1,400,678
State of Hawaii Airports System Revenue, COP AMT, 5.25%, 08/01/25			425				430,052

3

Schedule of Investments (unaudited) (continued) October 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, COP (continued)
AMT, 5.25%, 08/01/26		$	460			$	465,387
State of Hawaii Department of Budget & Finance, Refunding RB, 5.25%, 11/15/37			400				400,166
							2,696,283
Idaho — 0.5%
Idaho Health Facilities Authority, RB 4.00%, 12/01/43			670				559,917
Series 2017, 5.00%, 12/01/46			540				518,777
Series A, 5.00%, 03/01/39			500				497,274
Power County Industrial Development Corp., RB, AMT, 6.45%, 08/01/32			2,000				2,002,538
							3,578,506
Illinois — 10.0%
Chicago Board of Education, GO
Series A, 5.00%, 12/01/34			1,760				1,673,295
Series A, 5.00%, 12/01/40			1,410				1,280,016
Series A, 5.00%, 12/01/42			1,480				1,306,522
Series A, 5.00%, 12/01/47			480				413,738
Series C, 5.25%, 12/01/35			2,655				2,531,906
Series D, 5.00%, 12/01/46			3,480				3,019,251
Series H, 5.00%, 12/01/36			585				538,802
Series H, 5.00%, 12/01/46			240				209,296
Chicago Board of Education, Refunding GO
Series C, 5.00%, 12/01/25			1,120				1,117,272
Series C, 5.00%, 12/01/27			500				494,846
Series C, 5.00%, 12/01/30			605				590,029
Series C, 5.00%, 12/01/34			475				448,281
Series D, 5.00%, 12/01/25			435				433,857
Series F, 5.00%, 12/01/23			310				311,976
Series F, 5.00%, 12/01/24			340				340,165
Series G, 5.00%, 12/01/34			315				299,090
Chicago Midway International Airport, Refunding ARB, Series A, AMT, 2nd Lien, 5.00%, 01/01/41			1,870				1,783,275
Chicago Midway International Airport, Refunding RB, Series B, 5.00%, 01/01/46			1,670				1,625,930
Chicago O’Hare International Airport, ARB
Series D, AMT, Senior Lien, 5.00%, 01/01/42			430				417,330
Series A, AMT,Senior Lien, 4.38%, 01/01/53			1,390				1,185,078
Chicago O’Hare International Airport, Refunding RB, Series A, Senior Lien, 4.00%, 01/01/36			675				623,206
Cook County Community College District No.508, GO 5.50%, 12/01/38			3,075				3,103,090
5.25%, 12/01/43			2,935				2,946,259
Illinois Finance Authority, RB
Series A, 5.00%, 02/15/37			820				740,218
Series A, 5.00%, 02/15/47			240				199,881
Series A, 5.00%, 02/15/50			130				106,402
Illinois Finance Authority, Refunding RB 4.00%, 03/01/35			1,290				1,147,095
Series A, 5.00%, 11/15/45			1,205				1,147,997
Series C, 5.00%, 02/15/41			555				559,372
Illinois State Toll Highway Authority, RB
Series A, 5.00%, 01/01/40			2,980				3,035,359
Series A, 4.00%, 01/01/42			2,535				2,217,846
Series A, 4.00%, 01/01/46			1,585				1,331,497
Series C, 5.00%, 01/01/37			2,000				2,036,340

Security		Par (000)				Value
Illinois (continued)
Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57		$	2,370			$	2,139,344
Metropolitan Pier & Exposition Authority, Refunding RB(f)
Series B, (AGM), 0.00%, 06/15/44			3,765				1,155,046
Series B, (AGM), 0.00%, 06/15/47			22,775				5,886,723
State of Illinois, GO 5.25%, 02/01/31			1,485				1,488,487
5.25%, 02/01/32			2,365				2,369,082
5.50%, 07/01/33			3,000				3,008,322
5.50%, 07/01/38			695				695,630
5.00%, 02/01/39			1,910				1,810,733
5.50%, 05/01/39			795				799,112
Series A, 5.00%, 04/01/38			4,545				4,322,977
Series D, 5.00%, 11/01/28			900				901,147
State of Illinois, Refunding GO, Series B, 5.00%, 10/01/27			90				90,440
University of Illinois, RB, Series A, 5.00%, 04/01/44			1,225				1,230,270
Upper Illinois River Valley Development Authority, Refunding RB, 5.00%, 01/01/55(c)			390				302,804
							65,414,634
Indiana — 1.4%
City of Valparaiso Indiana, RB
AMT, 6.75%, 01/01/34			975				989,837
AMT, 7.00%, 01/01/44			2,355				2,391,698
Indiana Finance Authority, RB(d)
Series A, AMT, 5.00%, 07/01/23			2,870				2,892,143
Series A, AMT, 5.25%, 07/01/23			500				504,755
Indiana Housing & Community Development Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 3.00%, 07/01/52			780				724,444
Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40			1,520				1,523,914
							9,026,791
Iowa — 0.3%
Iowa Finance Authority, RB, Series A, 5.00%, 05/15/48			1,900				1,586,040
Iowa Student Loan Liquidity Corp., Refunding RB, Series B, AMT, 3.00%, 12/01/39			310				243,439
							1,829,479
Kansas — 0.1%
Ellis County Unified School District No.489 Hays, Refunding GO, Series B, (AGM), 4.00%, 09/01/52			705				583,161
Kentucky — 0.9%
County of Boyle Kentucky, Refunding RB, 5.00%, 06/01/37			2,500				2,520,960
Kentucky Public Transportation Infrastructure Authority, RB, CAB(e)
Series C, Convertible, 6.45%, 07/01/34			500				535,069
Series C, Convertible, 6.60%, 07/01/39			830				869,950
Series C, Convertible, 6.75%, 07/01/43			1,770				1,846,862
							5,772,841
Louisiana — 1.5%
City of Alexandria Louisiana Utilities Revenue, RB, 5.00%, 05/01/24(d)			860				882,038

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) October 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Louisiana (continued)
City of Shreveport Louisiana Water & Sewer Revenue, RB(b)
Series B, Junior Lien, (AGM), 4.00%, 12/01/44		$	2,050			$	1,746,598
Series B, Junior Lien, (AGM), 4.00%, 12/01/49			4,100				3,362,320
Lake Charles Harbor & Terminal District, ARB, Series B, AMT, (AGM), 5.50%, 01/01/29			1,500				1,527,383
Louisiana Public Facilities Authority, Refunding RB, 5.00%, 05/15/47			1,635				1,587,580
Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.25%, 05/15/35			605				607,984
							9,713,903
Maryland — 3.0%
Anne Arundel County Consolidated Special Taxing District, ST
5.13%, 07/01/36			170				166,548
5.25%, 07/01/44			170				159,541
City of Baltimore Maryland, RB
Series A, 5.00%, 07/01/46			1,500				1,503,798
Series A, 4.00%, 07/01/49(b)			3,120				2,691,680
Howard County Housing Commission, RB, M/F Housing, 5.00%, 12/01/42			1,430				1,440,884
Maryland Health & Higher Educational Facilities Authority, RB
Series 2017, 5.00%, 12/01/46			305				303,034
Series A, 5.00%, 05/15/42			1,760				1,724,350
Series B, 4.00%, 04/15/45			795				652,135
Maryland Stadium Authority, RB 5.00%, 05/01/28(b)(d)			1,670				1,810,649
5.00%, 05/01/34			2,700				2,847,026
5.00%, 05/01/47(b)			3,225				3,288,352
Maryland State Transportation Authority, Refunding RB, Series A, 2.50%, 07/01/47			4,915				2,906,824
							19,494,821
Massachusetts — 3.0%
Commonwealth of Massachusetts, GO, Series A, 0.00%,			1,975				2,029,311
Massachusetts Development Finance Agency, RB 5.00%, 01/01/48			1,115				1,043,573
5.00%, 10/01/48			830				677,304
Series A, 5.25%, 01/01/42			1,110				1,103,026
Series A, 5.00%, 01/01/47			1,570				1,474,310
Massachusetts Development Finance Agency, Refunding RB
4.00%, 07/01/39			1,140				983,050
5.00%, 04/15/40			400				380,287
5.00%, 09/01/43			750				720,609
Series A, 5.00%, 10/01/35			500				496,062
Series A, 5.00%, 01/01/40			435				424,190
Series A, 5.00%, 10/01/43			750				705,284
Series P, 5.45%, 05/15/59			2,010				2,189,796
Massachusetts Educational Financing Authority, RB Series B, AMT, 2.63%, 07/01/36			90				71,862
AMT, Subordinate, 3.75%, 07/01/47			1,865				1,382,868
Massachusetts Educational Financing Authority, Refunding RB
Series A, AMT, 3.63%, 07/01/32			405				384,002
Series B, AMT, 3.63%, 07/01/34			90				81,524
Massachusetts Housing Finance Agency, RB, M/F Housing
Series A, 3.80%, 12/01/43			160				129,010

Security		Par (000)				Value
Massachusetts (continued)
Massachusetts Housing Finance Agency, RB, M/F Housing (continued)
Series A, 3.85%, 06/01/46		$	205			$	160,805
Series A-1, (FHA 542(C)), 3.10%, 06/01/60			1,110				670,221
Series C-1, 3.15%, 12/01/49			400				266,940
Series C-1, 3.25%, 12/01/54			1,475				955,328
Series D-1, 2.55%, 12/01/50			420				259,831
Massachusetts Port Authority, ARB, Series E, AMT, 5.00%, 07/01/51			3,100				2,984,947
							19,574,140
Michigan — 5.9%
City of Detroit Michigan Water Supply System Revenue, RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36			5				5,011
Eastern Michigan University, RB, Series A, 4.00%, 03/01/47			1,170				957,660
Great Lakes Water Authority Sewage Disposal System Revenue, RB
Series B, 2nd Lien, 5.25%, 07/01/47			1,490				1,519,220
Series B, 2nd Lien, 5.50%, 07/01/52			3,525				3,670,678
Series A, Senior Lien, 5.25%, 07/01/52			3,525				3,606,727
Great Lakes Water Authority Water Supply System Revenue, RB
Series A, Senior Lien, 5.25%, 07/01/52			3,525				3,563,779
Series B, Senior Lien, 5.50%, 07/01/52			3,525				3,675,264
Michigan Finance Authority, RB 4.00%, 02/15/47(b)			7,080				5,686,861
4.00%, 02/15/44			2,500				2,104,270
Series S, 5.00%, 11/01/44			1,555				1,522,600
Michigan Finance Authority, Refunding RB 5.00%, 11/15/41			5,560				5,464,385
4.00%, 11/15/46			570				462,851
Michigan State Hospital Finance Authority, Refunding RB, 5.00%, 11/15/47			215				208,010
Michigan State Housing Development Authority, RB, M/F Housing
Series A, 3.80%, 10/01/38			1,690				1,514,115
Series A, 4.15%, 10/01/53			940				772,908
Series A, 2.70%, 10/01/56			2,655				1,552,777
Michigan State University, Refunding RB, Series B, 5.00%, 02/15/48			730				745,139
Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43			1,795				1,587,765
							38,620,020
Minnesota — 2.4%
City of Maple Grove Minnesota, Refunding RB, 4.00%, 05/01/37			880				743,505
City of Minneapolis Minnesota, Refunding RB, Series A, 5.00%, 11/15/49			560				542,719
City of Otsego Minnesota, Refunding RB, Series A, 5.00%, 09/01/44			425				358,667
City of Spring Lake Park Minnesota, RB, 5.00%, 06/15/39			1,080				947,910
Duluth Economic Development Authority, Refunding RB
Series A, 4.25%, 02/15/48			3,800				3,217,346
Series A, 5.25%, 02/15/53			415				415,084
Series A, 5.25%, 02/15/58			1,605				1,605,531
Housing & Redevelopment Authority of The City of St. Paul Minnesota, Refunding RB, Series A, 4.00%, 11/15/43			575				469,680

5

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

Security		Par (000)				Value
Minnesota (continued)
Minneapolis-St. Paul Metropolitan Airports Commission, Refunding RB, Sub Series D, AMT, 5.00%, 01/01/41		$	290			$	281,306
Minnesota Higher Education Facilities Authority, RB, Series 8-K, 4.00%, 03/01/43			385				313,660
Minnesota Housing Finance Agency, RB, Series H, (FHLMC, FNMA, GNMA), 3.00%, 07/01/52			1,740				1,622,251
Minnesota Housing Finance Agency, RB, S/F Housing
Series A, (FHLMC, FNMA, GNMA), 2.75%, 07/01/42			935				663,559
Series C, (FHLMC, FNMA, GNMA), 3.50%, 07/01/52			4,830				4,593,064
							15,774,282
Mississippi — 1.1%
Mississippi Development Bank, RB, (AGM), 6.88%, 12/01/40			3,595				3,709,342
Mississippi State University Educational Building Corp., Refunding RB, 5.25%, 08/01/23(d)			2,000				2,030,952
State of Mississippi Gaming Tax Revenue, RB
Series A, 5.00%, 10/15/37			330				334,770
Series A, 4.00%, 10/15/38			1,650				1,446,004
							7,521,068
Missouri — 2.6%
Health & Educational Facilities Authority of the State of Missouri, RB 4.13%, 02/15/43			300				261,512
4.00%, 06/01/53			2,075				1,669,425
Series A, 5.00%, 10/01/23(d)			500				507,559
Series A, 5.00%, 06/01/42			540				552,498
Series C-2, 5.00%, 10/01/34			1,000				1,015,592
Health & Educational Facilities Authority of the State of Missouri, Refunding RB 5.50%, 05/01/43			305				308,401
Series A, 4.00%, 07/01/46			1,670				1,440,961
Kansas City Industrial Development Authority, ARB
AMT, (AGM), 4.00%, 03/01/57			615				465,783
Class B, AMT, 5.00%, 03/01/54			3,530				3,281,096
Missouri Housing Development Commission, RB, S/F Housing
(FHLMC, FNMA, GNMA), 2.35%, 11/01/46			1,060				783,842
(FHLMC, FNMA, GNMA), 2.40%, 11/01/51			1,110				805,396
Series A, (FHLMC, FNMA, GNMA), 3.50%, 05/01/52			6,310				6,019,374
							17,111,439
Montana — 0.0%
Montana Board of Housing, RB, S/F Housing
Series B-2, 3.50%, 12/01/42			65				57,877
Series B-2, 3.60%, 12/01/47			105				104,895
							162,772
Nebraska — 0.1%
Douglas County Hospital Authority No.3, Refunding RB, 5.00%, 11/01/45			400				387,025
Nevada — 0.8%
City of Carson City Nevada, Refunding RB, 5.00%, 09/01/42			650				614,932
City of Las Vegas Nevada Special Improvement District No.809, SAB, 5.65%, 06/01/23			80				80,178

Security		Par (000)				Value
Nevada (continued)
City of Reno Nevada, Refunding RB
Series A-1, (AGM), 4.00%, 06/01/43		$	1,570			$	1,361,314
Series A-1, (AGM), 4.00%, 06/01/46			1,250				1,050,297
County of Clark Department of Aviation, Refunding RB, Series A-2, Sub Lien, 4.25%, 07/01/36			1,000				963,407
Tahoe-Douglas Visitors Authority, RB 5.00%, 07/01/40			285				269,794
5.00%, 07/01/45			730				668,283
							5,008,205
New Hampshire — 0.6%
New Hampshire Business Finance Authority, Refunding RB(c)
Series A, 3.63%, 07/01/43(a)			130				100,894
Series B, 4.63%, 11/01/42			2,095				1,749,065
Series B, AMT, 3.75%, 07/01/45(a)			395				301,033
Series C, AMT, 4.88%, 11/01/42			1,140				959,506
New Hampshire Housing Finance Authority, RB, M/F Housing, Series 1, (FHA), 4.00%, 07/01/52			800				625,268
							3,735,766
New Jersey — 11.6%
Casino Reinvestment Development Authority, Inc., Refunding RB
Class D, 5.25%, 11/01/39			1,265				1,270,240
Class D, 5.25%, 11/01/44			1,885				1,885,775
Hudson County Improvement Authority, RB, 4.00%, 10/01/46			1,195				1,047,640
New Jersey Economic Development Authority, ARB
AMT, 5.13%, 09/15/23			670				670,466
Series B, AMT, 5.63%, 11/15/30			660				644,897
New Jersey Economic Development Authority, RB 5.00%, 06/15/36			460				459,679
4.00%, 11/01/38			370				321,620
4.00%, 11/01/39			295				253,278
5.00%, 06/15/49			1,670				1,581,101
Class A, 5.25%, 11/01/47			4,795				4,727,678
Series A, 5.00%, 06/15/47			2,500				2,378,558
Series B, 4.50%, 06/15/40			1,270				1,155,169
Series EEE, 5.00%, 06/15/43			160				154,012
Series EEE, 5.00%, 06/15/48			2,705				2,565,273
Series LLL, 5.00%, 06/15/34			365				368,804
Series UU, 5.00%, 06/15/24(d)			80				82,252
Series UU, 5.00%, 06/15/40			345				337,273
Series WW, 5.00%, 06/15/36			210				209,853
AMT, (AGM), 5.00%, 01/01/31			790				789,516
AMT, (AGM), 5.13%, 07/01/42			200				200,349
AMT, 5.38%, 01/01/43			3,000				2,837,943
New Jersey Economic Development Authority, Refunding RB, AMT, 5.00%, 10/01/47			1,060				985,432
New Jersey Economic Development Authority, Refunding SAB
6.50%, 04/01/28			4,388				4,484,511
5.75%, 04/01/31			2,675				2,379,410
New Jersey Health Care Facilities Financing Authority, RB, 4.00%, 07/01/51			12,565				10,261,157
New Jersey Health Care Facilities Financing Authority, Refunding RB, 5.00%, 10/01/37			685				677,644
New Jersey Higher Education Student Assistance Authority, RB, Series B, AMT, 3.50%, 12/01/39			680				578,824

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) October 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
New Jersey (continued)
New Jersey Higher Education Student Assistance Authority, Refunding RB
Series B, AMT, 4.00%, 12/01/41		$	3,390			$	3,051,803
Series C, AMT, Subordinate, 5.00%, 12/01/52			3,425				3,142,420
New Jersey Housing & Mortgage Finance Agency, Refunding RB, S/F Housing, Series A, AMT, 3.80%, 10/01/32			1,100				1,006,033
New Jersey Transportation Trust Fund Authority, RB
Series AA, 4.13%, 06/15/39			1,040				911,358
Series AA, 5.50%, 06/15/39			3,510				3,518,070
Series AA, 5.00%, 06/15/45			900				859,935
Series AA, 5.00%, 06/15/46			400				381,382
Series AA, 3.00%, 06/15/50			130				81,136
Series S, 5.25%, 06/15/43			2,810				2,795,975
Series S, 5.00%, 06/15/46			2,070				1,971,901
New Jersey Transportation Trust Fund Authority, RB, CAB, Series A, 0.00%, 12/15/35(f)			1,000				494,862
New Jersey Transportation Trust Fund Authority, Refunding RB, 4.00%, 12/15/39			510				437,267
New Jersey Turnpike Authority, RB
Series A, 4.00%, 01/01/48			270				230,579
Series E, 5.00%, 01/01/45			4,450				4,481,715
South Jersey Port Corp., ARB, Series B, AMT, 5.00%, 01/01/35			625				609,718
South Jersey Transportation Authority, RB, Series A, 4.00%, 11/01/50			275				214,419
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.00%, 06/01/35			1,340				1,340,880
Series A, 4.00%, 06/01/37			500				443,504
Series A, 5.25%, 06/01/46			4,955				4,752,108
Sub-Series B, 5.00%, 06/01/46			2,100				1,923,900
							75,957,319
New Mexico — 0.8%
City of Santa Fe New Mexico, RB, Series A, 5.00%, 05/15/44			200				165,924
New Mexico Mortgage Finance Authority, RB, S/F Housing
Class A, (FHLMC, FNMA, GNMA), 3.00%, 03/01/53			3,030				2,832,123
Series C, (FHLMC, FNMA, GNMA), 4.25%, 03/01/53			2,110				2,096,618
							5,094,665
New York — 12.9%
City of New York, GO
Series A -1, 4.00%, 08/01/50			10,000				8,514,880
Series A-1, 4.00%, 09/01/46			2,175				1,839,861
Series C, 5.00%, 08/01/43			805				823,036
Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45			3,585				3,278,705
Metropolitan Transportation Authority, RB
Series A-1, 5.25%, 11/15/39			1,000				995,850
Series B, 5.25%, 11/15/38			2,970				2,956,103
Metropolitan Transportation Authority, Refunding RB
Series C-1, 4.75%, 11/15/45			1,950				1,722,809
Series C-1, 5.00%, 11/15/50			370				335,288
Series C-1, 5.25%, 11/15/55			1,040				976,633
Series C-1, 5.00%, 11/15/56			2,670				2,407,817

Security		Par (000)				Value
New York (continued)
Metropolitan Transportation Authority, Refunding RB (continued)
Series C-1, 5.25%, 11/15/56		$	10			$	9,489
Monroe County Industrial Development Corp., Refunding RB
4.00%, 12/01/46			1,000				763,559
Series A, 4.00%, 07/01/50			770				641,757
New York City Housing Development Corp., RB, M/F Housing
Series A, 3.00%, 11/01/55			1,505				909,655
Series F-1, (FHA), 2.40%, 11/01/46			7,050				4,124,624
Series F-1, (FHA), 2.50%, 11/01/51			4,860				2,901,055
Series I-1, (FHA), 2.55%, 11/01/45			1,200				780,102
Series I-1, (FHA), 2.65%, 11/01/50			3,205				1,870,175
Series I-1, (FHA), 2.70%, 11/01/55			950				572,406
New York City Industrial Development Agency, Refunding RB
3.00%, 03/01/49			605				382,261
Series A, (AGM), 3.00%, 01/01/36			65				52,045
Series A, (AGM), 3.00%, 01/01/40			235				169,804
New York City Municipal Water Finance Authority, Refunding RB
Series BB-1, 4.00%, 06/15/45			855				737,136
Series CC, 5.00%, 06/15/47			1,000				1,001,896
New York City Transitional Finance Authority Future Tax Secured Revenue, RB
Series C, Subordinate, 4.00%, 05/01/45			1,615				1,394,662
Series F-1, Subordinate, 4.00%, 02/01/51			1,105				929,023
New York Counties Tobacco Trust IV, Refunding RB
Series A, 5.00%, 06/01/38			1,400				1,256,763
Series A, 6.25%, 06/01/41(c)			3,100				3,082,581
New York Counties Tobacco Trust VI, Refunding RB, Series A-2-B, 5.00%, 06/01/45			500				428,164
New York Liberty Development Corp., Refunding RB 3.13%, 09/15/50			5,005				3,425,292
Series 1, 5.00%, 11/15/44(c)			4,920				4,305,930
Series 2, 5.15%, 11/15/34(c)			420				404,618
Series 2, 5.38%, 11/15/40(c)			1,450				1,397,205
Series A, 2.88%, 11/15/46			9,305				5,837,883
New York Power Authority, Refunding RB, Series A, 4.00%, 11/15/60			1,620				1,338,311
New York State Dormitory Authority, Refunding RB, Series D, 4.00%, 02/15/47			4,320				3,701,074
New York State Environmental Facilities Corp., RB, Series B, Subordinate, 5.00%, 06/15/48			1,305				1,336,752
New York State Housing Finance Agency, RB, M/F Housing, Series L-1, (SONYMA), 2.50%, 11/01/45			1,605				991,903
New York State Thruway Authority, Series B, Subordinate, 4.00%, 01/01/50			2,090				1,688,981
New York State Thruway Authority, Refunding RB, Series B, Subordinate, 3.00%, 01/01/46			900				613,729
New York State Urban Development Corp., RB, Series A, 4.00%, 03/15/49			5,700				4,832,585
New York Transportation Development Corp., RB, AMT, 5.00%, 10/01/35			1,910				1,850,037
Port Authority of New York & New Jersey, ARB, 221st Series, AMT, 4.00%, 07/15/60			850				666,922

7

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

Security		Par (000)				Value
New York (continued)
State of New York Mortgage Agency, Refunding RB, S/F Housing, Series 211, 3.75%, 10/01/43		$	1,190			$	958,108
Triborough Bridge & Tunnel Authority, RB
Series A, 5.00%, 11/15/49			620				627,192
Series A, 4.00%, 11/15/54			710				590,746
Series A, 5.00%, 11/15/54			2,310				2,329,122
TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41			535				509,336
Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44			445				415,044
Westchester Tobacco Asset Securitization Corp., Refunding RB, Sub-Series C, 4.00%, 06/01/42			320				303,355
							83,982,264
North Carolina — 0.4%
North Carolina Housing Finance Agency, RB, S/F Housing
(FHLMC, FNMA, GNMA), 3.75%, 07/01/52			1,735				1,673,826
Series 39-B, (FHLMC, FNMA, GNMA), 4.00%, 01/01/48			180				176,619
North Carolina Medical Care Commission, RB
4.00%, 11/01/52			400				332,976
Series A, 4.00%, 10/01/50			115				86,915
Series A, 5.00%, 10/01/50			305				272,565
							2,542,901
North Dakota — 0.4%
County of Cass North Dakota, Refunding RB, Series B, 5.25%, 02/15/58			695				680,128
North Dakota Housing Finance Agency, RB, S/F Housing, Series B, 3.00%, 07/01/52			1,760				1,631,390
							2,311,518
Ohio — 3.9%
Buckeye Tobacco Settlement Financing Authority, Refunding RB
Series A-2, 3.00%, 06/01/48			1,505				977,534
Series A-2, Class 1, 4.00%, 06/01/48			1,160				923,715
Series B-2, Class 2, 5.00%, 06/01/55			10,040				8,427,948
City of Dayton Ohio Airport Revenue, Refunding RB, Series A, AMT, (AGM), 4.00%, 12/01/32			2,000				1,823,338
County of Franklin Ohio, RB
Series 2017, 5.00%, 12/01/46			290				280,947
Series A, 4.00%, 12/01/44			365				305,322
County of Hamilton Ohio, RB, Series CC, 5.00%, 11/15/49			550				519,396
County of Hamilton Ohio, Refunding RB
4.00%, 08/15/50			1,085				852,720
Series A, 3.75%, 08/15/50			755				562,366
County of Montgomery Ohio, Refunding RB
4.00%, 11/15/42			655				535,138
4.00%, 08/01/46			2,525				2,077,605
Northwest Local School District/Hamilton & Butler Counties, GO, 4.00%, 12/01/50			1,135				975,742
Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(c)			1,135				952,140
Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48			55				52,155
Ohio Turnpike & Infrastructure Commission, RB, Series A-1, Junior Lien, 5.25%, 02/15/31			2,470				2,485,055
State of Ohio, RB, AMT, 5.00%, 06/30/53			1,000				902,568

Security		Par (000)				Value
Ohio (continued)
State of Ohio, Refunding RB, Series A, 4.00%, 01/15/50		$	2,250			$	1,747,080
The Ohio State University, Series A, 4.00%, 12/01/48			965				833,457
							25,234,226
Oklahoma — 0.8%
Oklahoma City Public Property Authority, Refunding RB, 5.00%, 10/01/39			720				740,104
Oklahoma Development Finance Authority, RB
Series B, 5.50%, 08/15/52			1,460				1,192,562
Series B, 5.50%, 08/15/57			625				500,441
Oklahoma Turnpike Authority, RB
Series A, 4.00%, 01/01/48			1,780				1,628,253
Series C, 4.00%, 01/01/42			1,420				1,320,672
							5,382,032
Oregon — 1.3%
Clackamas County School District No.12 North Clackamas, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(f)			510				240,510
Medford Hospital Facilities Authority, Refunding RB, Series A, 4.00%, 08/15/50			1,210				959,548
Multnomah & Clackamas Counties School District No.10JT Gresham-Barlow, GO, CAB, Series A, (GTD), 0.00%, 06/15/38(f)			530				239,934
Oregon Health & Science University, RB
Series A, 4.00%, 07/01/37			675				631,649
Series A, 5.00%, 07/01/42			600				611,928
Oregon State Facilities Authority, Refunding RB, Series A, 5.00%, 04/01/45			1,475				1,456,046
Port of Portland Oregon Airport Revenue, Refunding ARB, Series 27-A, AMT, 5.00%, 07/01/45			1,290				1,251,234
Salem-Keizer School District No.24J, GO, CAB, Series A, (GTD), 0.00%, 06/15/40(f)			1,980				804,840
State of Oregon Housing & Community Services Department, RB, S/F Housing, Series C, 3.95%, 07/01/43			115				93,726
State of Oregon, GO, 3.00%, 12/01/51			1,325				1,297,600
Warm Springs Reservation Confederated Tribe, Refunding RB, Series B, 5.00%, 11/01/39(c)			650				673,156
							8,260,171
Pennsylvania — 6.6%
Bristol Township School District, GO, (SAW), 5.25%, 06/01/23(d)			2,500				2,530,030
Bucks County Industrial Development Authority, RB, 4.00%, 08/15/50			1,305				1,057,967
Commonwealth Financing Authority, RB
5.00%, 06/01/34			750				767,944
(AGM), 4.00%, 06/01/39			1,365				1,241,766
County of Lehigh Pennsylvania, Refunding RB, Series A, 4.00%, 07/01/49			870				688,741
Delaware River Port Authority, RB, 4.50%, 01/01/24(d)			1,500				1,521,282
Lancaster Industrial Development Authority, RB, 5.00%, 12/01/49			950				902,390
Montgomery County Higher Education and Health Authority, Refunding RB
4.00%, 09/01/49			715				578,579
Class B, 4.00%, 05/01/52			5,860				4,687,982
Series A, 5.00%, 09/01/43			905				892,540
Series A, 5.00%, 09/01/48			720				696,424
Series A, 4.00%, 09/01/49			1,380				1,116,699

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) October 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Pennsylvania (continued)
Pennsylvania Economic Development Financing Authority, RB
Series A-1, 4.00%, 04/15/50		$	470			$	380,772
AMT, 5.00%, 12/31/38			390				371,081
AMT, 5.00%, 06/30/42			2,455				2,291,701
Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44			1,905				1,816,677
Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47			100				64,955
Pennsylvania Higher Educational Facilities Authority, RB, 4.00%, 08/15/49			1,680				1,412,220
Pennsylvania Housing Finance Agency, RB, S/F Housing, Series 125B, AMT, 3.65%, 10/01/42			1,000				809,721
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing
Series 2022, 4.25%, 10/01/52			3,125				3,085,428
Series 119, AMT, 3.50%, 10/01/36			1,015				890,558
Pennsylvania Turnpike Commission, RB
Series A, 5.00%, 12/01/44			1,380				1,340,119
Sub-Series B-1, 5.25%, 06/01/47			1,170				1,170,796
Series A, Subordinate, 5.00%, 12/01/44			2,080				2,038,699
Series A, Subordinate, 4.00%, 12/01/49			1,075				859,581
Series B, Subordinate, 4.00%, 12/01/51			610				485,372
Pennsylvania Turnpike Commission, Refunding RB, Series B-2, (AGM), 5.00%, 06/01/35			1,640				1,697,105
Pottsville Hospital Authority, Refunding RB, Series B, 5.00%, 07/01/45			1,250				1,199,114
School District of Philadelphia, GO, Series A, (SAW), 4.00%, 09/01/46			1,870				1,551,010
Springfield School District/Delaware County, GO
(SAW), 5.00%, 03/01/40			865				887,708
(SAW), 5.00%, 03/01/43			590				602,648
Swarthmore Borough Authority, RB, 5.00%, 09/15/48			1,900				1,963,886
Westmoreland County Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/36			1,290				1,327,620
							42,929,115
Puerto Rico — 4.2%
Children’s Trust Fund, Refunding RB, 5.63%, 05/15/43			1,200				1,199,938
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB
Series A-1, Restructured, 4.75%, 07/01/53			9,061				7,579,889
Series A-1, Restructured, 5.00%, 07/01/58			11,305				9,671,665
Series A-2, Restructured, 4.78%, 07/01/58			2,097				1,738,941
Series A-2, Restructured, 4.33%, 07/01/40			2,508				2,128,113
Series B-1, Restructured, 4.75%, 07/01/53			425				353,754
Series B-2, Restructured, 4.78%, 07/01/58			412				339,860
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(f)			19,562				4,245,384
							27,257,544
Rhode Island — 2.6%
Rhode Island Health and Educational Building Corp., Refunding RB, Series A, (AGM GTD), 3.75%, 05/15/32			1,155				1,124,961
Rhode Island Housing and Mortgage Finance Corp., RB, M/F Housing Series 3-B, (FHA), 4.13%, 10/01/49			295				231,775

Security		Par (000)				Value
Rhode Island (continued)
Rhode Island Housing and Mortgage Finance Corp., RB, M/F Housing (continued)
Series 76-A, 3.00%, 10/01/51		$	3,265			$	3,016,285
Rhode Island Student Loan Authority, RB, Series A, AMT, 3.63%, 12/01/37			760				661,960
Tobacco Settlement Financing Corp., Refunding RB
Series A, 5.00%, 06/01/35			1,000				993,836
Series A, 5.00%, 06/01/40			2,050				2,018,557
Series B, 4.50%, 06/01/45			5,215				4,815,891
Series B, 5.00%, 06/01/50			4,500				4,378,086
							17,241,351
South Carolina — 4.6%
Charleston County Airport District, ARB(d)
Series A, AMT, 5.50%, 07/01/23			2,000				2,025,711
Series A, AMT, 6.00%, 07/01/23			1,695				1,721,468
County of Berkeley South Carolina, SAB
4.25%, 11/01/40			315				246,286
4.38%, 11/01/49			470				344,965
South Carolina Jobs-Economic Development Authority, RB
5.00%, 01/01/40(c)			485				418,611
5.00%, 04/01/44			200				173,993
4.00%, 04/01/49			200				143,199
5.00%, 04/01/49			270				228,188
4.00%, 04/01/54			210				145,450
5.00%, 04/01/54			490				406,479
5.00%, 01/01/55(c)			845				661,299
South Carolina Jobs-Economic Development Authority, Refunding RB
5.00%, 02/01/38			2,875				2,897,287
Series A, 5.00%, 05/01/43			1,680				1,629,472
Series A, 4.25%, 05/01/48			1,445				1,204,033
South Carolina Ports Authority, ARB
AMT, 5.25%, 07/01/25(d)			555				576,341
AMT, 5.00%, 07/01/55			710				673,746
South Carolina Public Service Authority, RB
Series A, 5.50%, 12/01/54			4,450				4,459,011
Series E, 5.00%, 12/01/48			440				423,378
Series E, 5.50%, 12/01/53			2,500				2,500,558
South Carolina Public Service Authority, Refunding RB
Series A, 5.00%, 12/01/36			175				174,606
Series A, 5.00%, 12/01/50			1,035				965,098
Series E, 5.25%, 12/01/55			4,685				4,512,779
South Carolina State Housing Finance & Development Authority, RB, S/F Housing
Series A, 3.00%, 01/01/52			1,130				1,066,147
Series A, 4.00%, 01/01/52			2,400				2,347,433
							29,945,538
South Dakota — 0.2%
City of Rapid City South Dakota Sales Tax Revenue, RB, 4.00%, 12/01/26(d)			740				759,297
South Dakota Health & Educational Facilities Authority, Refunding RB, Series A, 4.00%, 09/01/50			705				572,788
							1,332,085

9

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

Security		Par (000)				Value
Tennessee — 1.7%
Chattanooga Health Educational & Housing Facility Board, Refunding RB, Series A, 4.00%, 08/01/44		$	115			$	92,612
Chattanooga-Hamilton County Hospital Authority, Refunding RB, Series A, 5.00%, 10/01/44			875				830,411
Greeneville Health & Educational Facilities Board, Refunding RB, Series A, 4.00%, 07/01/40			375				315,685
Memphis-Shelby County Airport Authority, ARB, Series A, AMT, 5.00%, 07/01/45			3,515				3,325,011
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Refunding RB
Series A, 4.00%, 10/01/49			230				169,842
Series A, 5.25%, 10/01/58			2,860				2,692,247
Metropolitan Nashville Airport Authority, ARB, Series B, AMT, 5.00%, 07/01/40			2,500				2,460,505
Tennessee Housing Development Agency, Refunding RB, S/F Housing, Series 1, 3.75%, 07/01/52			1,310				1,262,222
							11,148,535
Texas — 8.9%
Brazos Higher Education Authority, Inc., RB, Series 1B, AMT, Subordinate, 3.00%, 04/01/40			65				44,401
City of Austin Texas Airport System Revenue, ARB, AMT, 5.00%, 11/15/39			440				441,397
City of Beaumont Texas, GO, 5.25%, 03/01/23(d)			2,340				2,356,190
City of Houston Texas Airport System Revenue, ARB, Series A, AMT, 6.63%, 07/15/38			225				225,021
City of Houston Texas Airport System Revenue, Refunding ARB, AMT, 5.00%, 07/15/27			130				127,915
City of Houston Texas Airport System Revenue, Refunding RB
Sub-Series D, 5.00%, 07/01/37			1,175				1,195,631
Series A, AMT, 5.00%, 07/01/27			125				123,568
Series A, AMT, 4.00%, 07/01/46			1,390				1,141,405
Series A, AMT, 4.00%, 07/01/48			3,420				2,766,807
Sub-Series A, AMT, 4.00%, 07/01/47			690				562,868
City of San Antonio Texas Electric & Gas Systems Revenue, Refunding RB, Series A, 5.00%, 02/01/48			850				858,387
El Paso Independent School District, GO
(PSF-GTD), 4.00%, 08/15/43			890				807,878
(PSF), 4.00%, 08/15/48			3,000				2,611,449
Harris County Cultural Education Facilities Finance Corp., RB, Series B, 7.00%, 01/01/23(d)			565				568,540
Harris County Toll Road Authority Refunding RB, Series A, Senior Lien, 5.00%, 08/15/43(b)			1,860				1,923,190
Harris County-Houston Sports Authority, Refunding RB, Series G, Senior Lien, (NPFGC), 0.00%, 11/15/41(f)			11,690				3,726,772
Leander Independent School District, Refunding GO, CAB, Series D, (PSF), 0.00%, 08/15/24(d)(f)			370				209,184
Lower Colorado River Authority, Refunding RB, 5.50%, 05/15/33			2,240				2,263,699
Midland County Fresh Water Supply District No.1, RB, CAB, Series A, 0.00%, 09/15/27(d)(f)			14,680				6,887,190
New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 08/15/50(c)			455				389,025
North Texas Tollway Authority, RB, Series B, 0.00%, 09/01/31(d)(f)			2,415				1,092,807

Security		Par (000)				Value
Texas (continued)
North Texas Tollway Authority, Refunding RB 4.25%, 01/01/49		$	3,165			$	2,718,602
Series A, 5.00%, 01/01/48			1,060				1,053,794
Red River Education Finance Corp., RB, 5.25%, 03/15/23(d)			1,820				1,834,196
San Antonio Public Facilities Corp., RB, Convertible, 4.00%, 09/15/42			5,150				4,327,221
San Antonio Water System, Refunding RB
Series A, Junior Lien, 5.00%, 05/15/48			945				958,827
Series C, Junior Lien, 5.00%, 05/15/46			1,515				1,539,485
Tarrant County Cultural Education Facilities Finance Corp., RB
Series A, 4.00%, 07/01/53			1,690				1,317,206
Series A, 5.00%, 07/01/53			2,080				1,957,010
Series B, 5.00%, 07/01/36			1,500				1,526,506
Series B, 5.00%, 07/01/48			3,330				3,179,471
Texas City Industrial Development Corp., RB, Series 2012, 4.13%, 12/01/45			255				212,461
Texas Department of Housing & Community Affairs, RB, S/F Housing
Series A, (GNMA), 4.25%, 09/01/43			135				131,420
Series A, (GNMA), 3.63%, 09/01/44			385				323,223
Series A, (GNMA), 3.75%, 09/01/49			210				172,795
Texas Transportation Commission State Highway 249 System, RB, CAB, Series A, 5.00%, 08/01/57			1,085				994,356
Texas Transportation Commission, RB, CAB(f)
0.00%, 08/01/35			270				129,608
0.00%, 08/01/36			145				64,935
0.00%, 08/01/37			195				81,239
0.00%, 08/01/38			200				77,716
0.00%, 08/01/39			1,000				363,169
0.00%, 08/01/43			795				219,297
0.00%, 08/01/44			870				223,312
0.00%, 08/01/45			1,135				271,192
Texas Water Development Board, RB, Series A, 4.00%, 10/15/49			5,020				4,292,793
							58,293,158
Utah — 0.6%
City of Salt Lake City Utah Airport Revenue, ARB
Series A, AMT, 5.00%, 07/01/43			530				513,377
Series A, AMT, 5.00%, 07/01/47			665				635,690
Series A, AMT, 5.00%, 07/01/48			640				607,708
County of Utah, RB
Series A, 4.00%, 05/15/43			155				142,523
Series A, 3.00%, 05/15/50			710				473,459
Utah Charter School Finance Authority, RB
(UT CSCE), 5.00%, 10/15/48			360				360,894
Series A, 5.00%, 06/15/39(c)			200				180,034
Utah Charter School Finance Authority, Refunding RB 5.00%, 06/15/40(c)			150				131,019
(UT), 4.00%, 04/15/42			400				346,922
5.00%, 06/15/55(c)			385				309,021
							3,700,647
Vermont — 0.3%
University of Vermont and State Agricultural College, Refunding RB
4.00%, 10/01/37			500				475,828

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) October 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Vermont (continued)
University of Vermont and State Agricultural College, Refunding RB (continued)
5.00%, 10/01/43		$	1,470			$	1,506,619
Vermont Student Assistance Corp., RB, Series A, AMT, 4.13%, 06/15/30			285				285,352
							2,267,799
Virginia — 2.2%
Ballston Quarter Community Development Authority, TA, Series A, 5.38%, 03/01/36			490				371,271
Hampton Roads Transportation Accountability Commission, RB
Series A, 4.00%, 07/01/52			4,055				3,488,435
Series A, Senior Lien, 4.00%, 07/01/55			5,405				4,573,273
Series A, Senior Lien, 4.00%, 07/01/60			1,505				1,232,730
Virginia Beach Development Authority, Refunding RB
5.00%, 09/01/44			585				505,924
4.00%, 09/01/48			375				266,919
Virginia Housing Development Authority, RB, M/F Housing
Series 1, (FHLMC, FNMA, GNMA), 2.55%, 11/01/50			840				505,260
Series B, 4.00%, 06/01/53			385				304,865
Series D, 3.90%, 10/01/48			1,430				1,167,821
Virginia Small Business Financing Authority, RB, AMT, 5.00%, 12/31/52			2,330				2,130,755
							14,547,253
Washington — 2.6%
King County Housing Authority, Refunding RB, 3.00%, 06/01/40			440				326,655
Port of Seattle Washington, ARB
Series A, AMT, 5.00%, 05/01/43			1,470				1,417,348
Series C, AMT, 5.00%, 04/01/40			930				918,315
Series C, AMT, Intermediate Lien, 5.00%, 05/01/37			1,450				1,440,724
Port of Seattle Washington, Refunding ARB, AMT, Intermediate Lien, 5.50%, 08/01/47			1,760				1,772,091
State of Washington, COP
Series B, 5.00%, 07/01/37			3,910				4,061,180
Series B, 5.00%, 07/01/38			650				673,256
Washington Health Care Facilities Authority, RB, Series A, Catholic Health Services, 5.75%, 01/01/23(d)			2,820				2,832,180
Washington Health Care Facilities Authority, Refunding RB, Series A, 4.00%, 08/01/44			250				201,331
Washington State Convention Center Public Facilities District RB, 3.00%, 07/01/58			3,715				2,062,657
Washington State Housing Finance Commission, Refunding RB(c)
5.00%, 01/01/38			600				569,813
5.00%, 01/01/43			900				830,300
							17,105,850
West Virginia — 0.3%
West Virginia Hospital Finance Authority, RB, Series A, 4.00%, 06/01/51			2,910				2,248,871
Wisconsin — 1.6%
Public Finance Authority, RB
Class A, 6.00%, 06/15/52			385				339,118
Class A, 6.13%, 06/15/57			435				383,458
Series A, 4.00%, 11/15/37			100				83,049

Security		Par (000)				Value
Wisconsin (continued)
Public Finance Authority, RB (continued)
Series A, 5.00%, 07/15/39(c)		$	100			$	85,985
Series A, 5.00%, 10/15/40(c)			425				368,654
Series A, 5.00%, 11/15/41			270				255,300
Series A, 5.00%, 07/15/49(c)			245				194,419
Series A, 5.00%, 10/15/50(c)			540				439,554
Series A, 5.00%, 07/15/54(c)			115				88,703
Series A, 5.00%, 07/01/55(c)			300				239,914
Series A, 5.00%, 10/15/55(c)			560				446,857
Series A-1, 4.50%, 01/01/35(c)			230				202,258
Public Finance Authority, Refunding RB
5.00%, 09/01/49(c)			165				130,104
5.00%, 09/01/54(c)			130				99,929
Series A, 4.00%, 10/01/49			2,000				1,561,940
Series A, 5.00%, 11/15/49			335				297,841
AMT, 4.00%, 08/01/35			280				233,714
Wisconsin Health & Educational Facilities Authority, Refunding RB
5.00%, 04/01/44			2,005				2,043,047
4.00%, 12/15/49			2,135				1,685,207
Wisconsin Housing & Economic Development Authority, RB, M/F Housing
Series A, 3.15%, 11/01/44			480				337,462
Series A, 4.45%, 05/01/57			575				484,788
WPPI Energy, Refunding RB, Series A, 5.00%, 07/01/37			665				671,627
							10,672,928
Wyoming — 0.7%
Wyoming Community Development Authority, RB, S/F Housing, Series 1, (FHLMC, FNMA, GNMA), 3.50%, 06/01/52			2,405				2,295,628
Wyoming Community Development Authority, Refunding RB, Series 3, (GNMA/FHLMC/FNMA COLL), 3.00%, 06/01/50			2,120				2,012,622
							4,308,250
Total Municipal Bonds — 140.7% (Cost: $1,026,410,554)							917,865,851
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				822,508
California — 2.3%
Bay Area Toll Authority, Refunding RB, 4.00%, 04/01/42(k)			3,890				3,563,417
Sacramento Area Flood Control Agency, Refunding SAB
5.00%, 10/01/47			8,384				8,482,775
Series A, 5.00%, 10/01/43			2,775				2,821,733
							14,867,925
Colorado — 1.2%
City & County of Denver Colorado Airport System Revenue, Refunding ARB(k)
Series A, AMT, 5.25%, 12/01/43			1,901				1,904,137

11

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

Security		Par (000)				Value
Colorado (continued)
City & County of Denver Colorado Airport System Revenue, Refunding ARB(k) (continued)
Series A, AMT, 5.25%, 12/01/48		$	1,664			$	1,612,161
County of Adams Colorado, Refunding COP, 4.00%, 12/01/45			4,650				4,041,499
							7,557,797
District of Columbia — 0.2%
District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, (FHA), 4.10%, 09/01/39			1,300				1,156,576
Florida — 0.6%
City of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/47			1,290				1,229,289
City of Tampa Florida, RB, Series A, 4.00%, 11/15/46			1,930				1,597,914
Escambia County Health Facilities Authority, Refunding RB, 4.00%, 08/15/45(k)			1,771				1,381,620
							4,208,823
Georgia — 1.9%
Georgia Housing & Finance Authority, Refunding RB, Series A, 3.70%, 06/01/49			996				809,651
Main Street Natural Gas Inc., RB, Series B, 5.00%, 12/01/52(a)			11,928				11,776,307
							12,585,958
Illinois — 1.3%
City of Chicago IIllinois Waterworks Revenue, Refunding RB, 2nd Lien, (AGM), 5.25%, 11/01/33			480				480,405
Illinois Finance Authority, Refunding RB
Series C, 4.00%, 02/15/27			5				4,554
Series C, 4.00%, 02/15/41			2,033				1,815,335
Illinois State Toll Highway Authority, RB
Series A, 5.00%, 01/01/40			825				840,463
Series B, 5.00%, 01/01/40			3,329				3,376,932
Series C, 5.00%, 01/01/38			2,252				2,275,484
							8,793,173
Iowa — 0.2%
Iowa Finance Authority, Refunding RB, Series E, 4.00%, 08/15/46			1,450				1,151,141
Louisiana — 0.2%
State of Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, Series A, 1st Lien, 4.00%, 05/01/25			1,245				1,265,706
Maryland — 0.5%
City of Baltimore Maryland, RB, Series A, 5.00%, 07/01/46			1,499				1,503,059
Maryland Stadium Authority, RB, 5.00%, 05/01/42			1,740				1,781,197
							3,284,256
Massachusetts — 0.7%
Commonwealth of Massachusetts Transportation Fund Revenue, RB, BAB, Series A, 4.00%, 06/01/45			1,502				1,340,275
Massachusetts Development Finance Agency, Refunding RB, 5.00%, 07/01/47			3,359				3,226,173
							4,566,448

Security		Par (000)				Value
Michigan — 1.2%
Michigan State Building Authority, Refunding RB, Series I, 5.00%, 10/15/45		$	5,670			$	5,731,758
Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.05%, 10/01/48			2,338				1,938,311
							7,670,069
Nebraska — 0.9%
Central Plains Energy Project, RB, Series 1, 5.00%, 05/01/53(a)			5,714				5,596,924
Nevada — 0.3%
County of Clark Nevada, GO, Series A, 5.00%, 05/01/48			2,260				2,300,998
New York — 4.1%
City of New York, GO, Series D, 5.00%, 12/01/43(k)			2,620				2,670,827
City of New York, Refunding GO, Series B, 4.00%, 08/01/32			3,990				4,008,430
New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38			2,907				2,638,538
New York City Municipal Water Finance Authority, Refunding RB
Series BB, 4.00%, 06/15/47			3,660				3,132,228
Series CC, 5.00%, 06/15/23			2,820				2,837,919
Series CC, 5.00%, 06/15/47			3,180				3,200,473
New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-1, Subordinate, (SAW), 4.00%, 07/15/42(k)			1,018				886,301
New York State Urban Development Corp., Refunding RB, Series A, 4.00%, 03/15/46			4,850				3,816,205
Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55			3,210				3,253,127
							26,444,048
North Carolina — 0.9%
Township of North Bergen New Jersey, Refunding GO, Series B, 5.00%, 10/01/25			5,550				5,834,832
Pennsylvania — 2.1%
Commonwealth of Pennsylvania, GO(k)
1st Series, 4.00%, 03/01/36			1,559				1,479,031
1st Series, 4.00%, 03/01/38			3,650				3,443,198
Northampton County General Purpose Authority, Refunding RB, 4.00%, 11/01/38(k)			2,597				2,390,813
Pennsylvania Turnpike Commission, RB, Series A, 5.50%, 12/01/42			4,017				4,087,377
Westmoreland County Municipal Authority, Refunding RB, (BAM), 5.00%, 08/15/38			2,533				2,568,763
							13,969,182
Rhode Island — 0.3%
Rhode Island Health and Educational Building Corp., RB, Series A, 4.00%, 09/15/47			1,980				1,680,916
Texas — 2.7%
City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/23			4,560				4,581,519
County of Hidalgo Texas, GO, Series A, 4.00%, 08/15/43			2,297				2,068,621
Houston Community College System, GO, 4.00%, 02/15/23			4,395				4,406,528
Howe Independent School District, GO, (PSF-GTD), 4.00%, 08/15/43			1,095				1,017,020

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) October 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD) (Percentages shown are based on Net Assets)

Security		Par (000)				Value
Texas (continued)
Tarrant County Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 05/15/23		$	4,456			$	4,510,346
Texas Department of Housing & Community Affairs, RB, S/F Housing
Series A, (GNMA), 3.63%, 09/01/44			952				789,858
Series A, (GNMA), 3.75%, 09/01/49			678				562,175
							17,936,067
Virginia — 1.7%
Fairfax County Economic Development Authority, RB, 5.00%, 04/01/47(k)			2,320				2,394,267
Fairfax County Industrial Development Authority, Refunding RB, 4.00%, 05/15/42			4,868				4,390,605
Virginia Small Business Financing Authority, Refunding RB, Series A, 4.00%, 12/01/49			5,321				4,344,007
							11,128,879
West Virginia — 0.2%
Morgantown Utility Board, Inc., RB, Series B, 4.00%, 12/01/48(k)			1,511				1,235,006
Wisconsin — 0.8%
Wisconsin Health & Educational Facilities Authority, Refunding RB, 4.00%, 12/01/46			2,058				1,725,433
Wisconsin Housing & Economic Development Authority, RB, M/F Housing
Series A, 4.10%, 11/01/43			1,342				1,128,514
Series A, 4.30%, 11/01/53			1,395				1,164,973
Series A, 4.45%, 05/01/57			1,678				1,410,643
							5,429,563
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 24.4% (Cost: $173,472,959)							159,486,795
Total Long-Term Investments — 165.1% (Cost: $1,199,883,513)							1,077,352,646
		Shares
Short-Term Securities
Money Market Funds — 1.7%
BlackRock Liquidity Funds, MuniCash, Institutional Class, 1.83%(l)(m)			11,004,322				11,003,221
Total Short-Term Securities — 1.7% (Cost: $11,003,221)							11,003,221
Total Investments — 166.8% (Cost: $1,210,886,734)							1,088,355,867
Other Assets Less Liabilities — 1.9%							12,418,141
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (15.4)%							(100,648,164	)
VMTP Shares at Liquidation Value, Net of Deferred Offering Costs — (53.3)%							(347,800,000	)
Net Assets Applicable to Common Shares — 100.0%						$	652,325,844

^(a)  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.

^(b)  When-issued security.

^(c)  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.

^(d)  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.

^(e)  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.

^(f)  Zero-coupon bond.

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

^(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 October 1, 2024 to July 15, 2042, is $13,942,211.

^(l)  Affiliate of the Fund.

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

For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

13

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

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 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 07/31/22				Purchases at Cost				Proceeds from Sales				Net Realized Gain (Loss)				Change in Unrealized Appreciation (Depreciation)				Value at 10/31/22				Shares Held at 10/31/22				Income				Capital Gain Distributions from Underlying Funds
BlackRock Liquidity Funds, MuniCash, Institutional Class		$	2,928,146			$	8,076,943	(a)		$	—			$	(1,030	)		$	(838	)		$	11,003,221				11,004,322			$	23,830			$	—

^(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			384				12/20/22			$	42,504			$	1,118,623
U.S. Long Bond			677				12/20/22				81,832				5,914,239
5-Year U.S. Treasury Note			346				12/30/22				36,898				575,761
														$	7,608,623

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 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 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		$	—			$	917,865,851			$	—			$	917,865,851
Municipal Bonds Transferred to Tender Option Bond Trusts			—				159,486,795				—				159,486,795
Short-Term Securities
Money Market Funds			11,003,221				—				—				11,003,221
		$	11,003,221			$	1,077,352,646			$	—			$	1,088,355,867

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) October 31, 2022 BlackRock MuniHoldings Fund, Inc. (MHD)

Fair Value Hierarchy as of Period End (continued)

		Level 1				Level 2				Level 3				Total
Derivative Financial Instruments(a)
Assets
Interest Rate Contracts		$	7,608,623			$	—			$	—			$	7,608,623

^(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		$	—			$	(100,229,739	)		$	—			$	(100,229,739	)
VMTP Shares at Liquidation Value			—				(347,800,000	)			—				(347,800,000	)
		$	—			$	(448,029,739	)		$	—			$	(448,029,739	)

Portfolio Abbreviation
AGC		Assured Guaranty Corp.
AGM		Assured Guaranty Municipal Corp.
AMT		Alternative Minimum Tax
ARB		Airport Revenue Bonds
BAB		Build America Bond
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

15