UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number 811-08081

 

Name of Fund: BlackRock MuniHoldings Fund, Inc. (MHD)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniHoldings Fund, Inc., 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 04/30/2011

 

Date of reporting period: 01/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments January 31, 2011 (Unaudited)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 2.0%

 

 

 

 

 

 

 

County of Jefferson Alabama, RB, Series
A, 5.00%, 1/01/24

 

$

4,550

 

$

3,959,319

 

Arizona — 5.2%

 

 

 

 

 

 

 

Maricopa County IDA Arizona, RB,
Arizona Charter Schools Project,
Series A, 6.75%, 7/01/29

 

 

2,200

 

 

1,452,990

 

Maricopa County Pollution Control Corp.,
Refunding RB, Southern California
Edison Co., Series A, 5.00%, 6/01/35

 

 

1,185

 

 

1,115,026

 

Phoenix IDA Arizona, Refunding RB,
America West Airlines Inc. Project,
AMT, 6.30%, 4/01/23

 

 

2,215

 

 

1,817,562

 

Pima County IDA, Refunding IDRB,
Tucson Electric Power, 5.75%,
9/01/29

 

 

770

 

 

751,512

 

Salt River Project Agricultural
Improvement & Power District, RB,
Series A, 5.00%, 1/01/38

 

 

1,370

 

 

1,342,148

 

Salt Verde Financial Corp., RB, Senior:

 

 

 

 

 

 

 

5.00%, 12/01/32

 

 

2,000

 

 

1,721,200

 

5.00%, 12/01/37

 

 

2,360

 

 

1,999,911

 

Show Low Improvement District, Special
Assessment Bonds, District No. 5,
6.38%, 1/01/15

 

 

260

 

 

260,575

 

 

 

 

 

 

 

 

 

 

 

 

10,460,924

 

Arkansas — 0.5%

 

 

 

 

 

 

 

County of Little River Arkansas,
Refunding RB, Georgia-Pacific Corp.
Project, AMT, 5.60%, 10/01/26

 

 

1,155

 

 

1,056,848

 

California — 16.4%

 

 

 

 

 

 

 

Agua Caliente Band of Cahuilla Indians,
RB, 5.60%, 7/01/13 (a)

 

 

255

 

 

248,021

 

California Health Facilities Financing
Authority, Refunding RB:

 

 

 

 

 

 

 

St. Joseph Health System, Series A,
5.75%, 7/01/39

 

 

1,530

 

 

1,502,598

 

Sutter Health, Series B, 6.00%,
8/15/42 (b)

 

 

2,200

 

 

2,160,224

 

California State Public Works Board, RB,
Various Capital Projects,
Sub-Series I-1, 6.38%, 11/01/34

 

 

820

 

 

834,186

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

California Statewide Communities
Development Authority, RB:

 

 

 

 

 

 

 

Health Facility, Memorial Health
Services, Series A, 6.00%,
10/01/23

 

$

3,870

 

$

3,985,868

 

John Muir Health, 5.13%, 7/01/39

 

 

1,510

 

 

1,328,890

 

Los Angeles Department of Airports, RB,
Series A, 5.25%, 5/15/39

 

 

555

 

 

531,329

 

Los Angeles Department of Airports,
Refunding RB, Senior, Los Angeles
International Airport, Series A, 5.00%,
5/15/40

 

 

4,115

 

 

3,783,372

 

Montebello Unified School District
California, GO, CAB (NPFGC) (c):

 

 

 

 

 

 

 

5.63%, 8/01/22

 

 

2,405

 

 

1,162,697

 

5.62%, 8/01/23

 

 

2,455

 

 

1,089,627

 

San Diego Unified School District
California, GO, CAB, Election of 2008,
Series A, 6.06%, 7/01/29 (c)

 

 

3,475

 

 

1,058,485

 

San Francisco City & County Public
Utilities Commission, RB, Series B,
5.00%, 11/01/39

 

 

6,600

 

 

6,308,940

 

State of California, GO, Various Purpose,
6.50%, 4/01/33

 

 

8,370

 

 

8,851,861

 

 

 

 

 

 

 

 

 

 

 

 

32,846,098

 

Colorado — 2.7%

 

 

 

 

 

 

 

Colorado Educational & Cultural
Facilities Authority, RB, Charter
School, Colorado Springs, 5.50%,
7/01/40

 

 

1,455

 

 

1,230,188

 

Colorado Health Facilities Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 5.00%, 1/01/40

 

 

1,525

 

 

1,345,172

 

Plaza Metropolitan District No. 1
Colorado, Tax Allocation Bonds,
Subordinate Public Improvement Fee,
Tax Increment, 8.13%, 12/01/25

 

 

1,000

 

 

885,740

 

Regional Transportation District, COP,
Series A, 5.38%, 6/01/31

 

 

710

 

 

692,378

 

University of Colorado, RB, Series A,
5.38%, 6/01/38

 

 

1,250

 

 

1,259,500

 

 

 

 

 

 

 

 

 

 

 

 

5,412,978

 

 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

ACA

ACA Financial Guaranty Corp.

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

EDA

Economic Development Authority

EDC

Economic Development Corp.

ERB

Education Revenue Bonds

FHA

Federal Housing Administration

GO

General Obligation Bonds

HDA

Housing Development Authority

HFA

Housing Finance Agency

HRB

Housing Revenue Bonds

HUD

U.S. Department of Housing and Urban Development

IDA

Industrial Development Authority

IDRB

Industrial Development Revenue Bonds

M/F

Multi-Family

NPFGC

National Public Finance Guarantee Corp.

RB

Revenue Bonds

 

 

 

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011

1


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Connecticut — 2.9%

 

 

 

 

 

 

 

Connecticut State Development
Authority, RB, AFCO Cargo BDL LLC
Project, AMT, 8.00%, 4/01/30

 

$

2,735

 

$

2,471,893

 

Connecticut State Health & Educational
Facility Authority, RB:

 

 

 

 

 

 

 

Ascension Health Senior Credit,
5.00%, 11/15/40

 

 

955

 

 

860,885

 

Wesleyan University, 5.00%,
7/01/35

 

 

2,515

 

 

2,490,403

 

 

 

 

 

 

 

 

 

 

 

 

5,823,181

 

Delaware — 1.6%

 

 

 

 

 

 

 

County of Sussex Delaware, RB, NRG
Energy, Inc., Indian River Project,
6.00%, 10/01/40

 

 

790

 

 

758,273

 

Delaware State EDA, RB, Exempt
Facilities, Indian River Power, 5.38%,
10/01/45

 

 

2,830

 

 

2,494,532

 

 

 

 

 

 

 

 

 

 

 

 

3,252,805

 

District of Columbia — 2.2%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB:

 

 

 

 

 

 

 

CAB, Second Senior Lien, Series B
(AGC), 7.10%, 10/01/35 (c)

 

 

13,485

 

 

2,482,318

 

First Senior Lien, Series A, 5.00%,
10/01/39

 

 

505

 

 

473,579

 

First Senior Lien, Series A, 5.25%,
10/01/44

 

 

1,470

 

 

1,420,373

 

 

 

 

 

 

 

 

 

 

 

 

4,376,270

 

Florida — 8.6%

 

 

 

 

 

 

 

City of Clearwater Florida, RB, Series A,
5.25%, 12/01/39

 

 

1,195

 

 

1,174,004

 

County of Broward Florida, RB, Series A,
5.25%, 10/01/34

 

 

750

 

 

742,920

 

County of Miami-Dade Florida, RB:

 

 

 

 

 

 

 

CAB, Sub-Series A (NPFGC), 5.24%,
10/01/37 (c)

 

 

2,340

 

 

340,353

 

Water & Sewer System, 5.00%,
10/01/34

 

 

3,935

 

 

3,676,038

 

County of Miami-Dade Florida,
Refunding RB, Miami International
Airport, Series A-1, 5.38%, 10/01/41

 

 

2,620

 

 

2,430,024

 

Greater Orlando Aviation Authority
Florida, RB, Special Purpose, JetBlue
Airways Corp., AMT, 6.50%, 11/15/36

 

 

2,095

 

 

1,868,049

 

Hillsborough County IDA, RB, National
Gypsum Co., Series B, AMT, 7.13%,
4/01/30

 

 

1,900

 

 

1,688,967

 

Mid-Bay Bridge Authority, RB, Series A,
7.25%, 10/01/40 (b)

 

 

1,570

 

 

1,542,556

 

Midtown Miami Community
Development District, Special
Assessment Bonds, Series B, 6.50%,
5/01/37

 

 

2,450

 

 

2,216,760

 

Palm Coast Park Community
Development District, Special
Assessment Bonds, 5.70%, 5/01/37

 

 

675

 

 

386,201

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

Preserve at Wilderness Lake Community
Development District, Special
Assessment Bonds, Series A, 5.90%,
5/01/34

 

$

1,535

 

$

1,236,488

 

 

 

 

 

 

 

 

 

 

 

 

17,302,360

 

Georgia — 1.9%

 

 

 

 

 

 

 

De Kalb Private Hospital Authority,
Refunding RB, Children’s Healthcare,
5.25%, 11/15/39

 

 

585

 

 

543,249

 

Metropolitan Atlanta Rapid Transit
Authority, RB, Third Series, 5.00%,
7/01/39

 

 

2,410

 

 

2,338,760

 

Private Colleges & Universities Authority,
Refunding RB, Emory University,
Series C, 5.00%, 9/01/38

 

 

1,045

 

 

1,023,515

 

 

 

 

 

 

 

 

 

 

 

 

3,905,524

 

Guam — 0.8%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A:

 

 

 

 

 

 

 

6.00%, 11/15/19

 

 

440

 

 

448,070

 

6.75%, 11/15/29

 

 

630

 

 

664,914

 

7.00%, 11/15/39

 

 

430

 

 

459,107

 

 

 

 

 

 

 

 

 

 

 

 

1,572,091

 

Hawaii — 0.4%

 

 

 

 

 

 

 

State of Hawaii, Refunding RB, Series A,
5.25%, 7/01/30

 

 

945

 

 

908,258

 

Illinois — 6.1%

 

 

 

 

 

 

 

City of Chicago Illinois, Special
Assessment Bonds, Lake Shore East,
6.75%, 12/01/32

 

 

1,200

 

 

1,072,128

 

Illinois Finance Authority, RB, Navistar
International, Recovery Zone, 6.50%,
10/15/40

 

 

1,070

 

 

1,064,703

 

Illinois Finance Authority, Refunding RB,
Central DuPage Health, Series B,
5.50%, 11/01/39

 

 

1,115

 

 

1,049,104

 

Illinois HDA, RB, Homeowner Mortgage,
Sub-Series C2, AMT, 5.35%, 2/01/27

 

 

2,635

 

 

2,618,215

 

Metropolitan Pier & Exposition Authority,
Refunding RB, McCormick Place
Expansion Project (AGM):

 

 

 

 

 

 

 

CAB, Series B, 6.25%, 6/15/47 (c)

 

 

13,220

 

 

1,074,918

 

Series B, 5.00%, 6/15/50

 

 

2,190

 

 

1,857,558

 

Series B-2, 5.00%, 6/15/50

 

 

1,740

 

 

1,429,184

 

Railsplitter Tobacco Settlement
Authority, RB:

 

 

 

 

 

 

 

5.50%, 6/01/23

 

 

930

 

 

880,496

 

6.00%, 6/01/28

 

 

800

 

 

763,472

 

State of Illinois, RB, Build Illinois, Series
B, 5.25%, 6/15/34

 

 

440

 

 

411,880

 

 

 

 

 

 

 

 

 

 

 

 

12,221,658

 

Indiana — 1.8%

 

 

 

 

 

 

 

Indiana Finance Authority, RB, Sisters of
St. Francis Health, 5.25%, 11/01/39

 

 

585

 

 

530,361

 

Indiana Finance Authority, Refunding
RB, Parkview Health System, Series A,
5.75%, 5/01/31

 

 

2,300

 

 

2,267,317

 

 

 

 

2

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Indiana (concluded)

 

 

 

 

 

 

 

Indiana Municipal Power Agency, RB,
Series B, 6.00%, 1/01/39

 

$

775

 

$

798,552

 

 

 

 

 

 

 

 

 

 

 

 

3,596,230

 

Kansas — 1.8%

 

 

 

 

 

 

 

Kansas Development Finance Authority,
Refunding RB:

 

 

 

 

 

 

 

Adventist Health, 5.75%, 11/15/38

 

 

2,465

 

 

2,473,184

 

Sisters of Leavenworth, Series A,
5.00%, 1/01/40

 

 

1,155

 

 

1,063,986

 

 

 

 

 

 

 

 

 

 

 

 

3,537,170

 

Kentucky — 0.7%

 

 

 

 

 

 

 

Kentucky Economic Development
Finance Authority, Refunding RB,
Owensboro Medical Health System,
Series A, 6.38%, 6/01/40

 

 

700

 

 

657,272

 

Louisville & Jefferson County
Metropolitan Sewer District Kentucky,
RB, Series A (NPFGC), 5.50%,
5/15/34

 

 

700

 

 

704,242

 

 

 

 

 

 

 

 

 

 

 

 

1,361,514

 

Louisiana — 2.2%

 

 

 

 

 

 

 

East Baton Rouge Sewerage
Commission, RB, Series A, 5.25%,
2/01/39

 

 

570

 

 

564,226

 

Louisiana Local Government
Environmental Facilities & Community
Development Authority, RB, Westlake
Chemical Corp. Projects, 6.75%,
11/01/32

 

 

3,500

 

 

3,526,250

 

New Orleans Aviation Board, Refunding
RB, Passenger Facility Charge,
Series A, 5.25%, 1/01/41

 

 

430

 

 

390,367

 

 

 

 

 

 

 

 

 

 

 

 

4,480,843

 

Maine — 0.1%

 

 

 

 

 

 

 

Maine Health & Higher Educational
Facilities Authority, RB, Series A,
5.00%, 7/01/39

 

 

210

 

 

195,554

 

Maryland — 2.1%

 

 

 

 

 

 

 

Maryland EDC, RB, Transportation
Facilities Project, Series A, 5.75%,
6/01/35

 

 

300

 

 

273,333

 

Maryland EDC, Refunding RB, CNX
Marine Terminals, Inc., 5.75%,
9/01/25

 

 

580

 

 

539,887

 

Maryland Health & Higher Educational
Facilities Authority, Refunding RB,
Charlestown Community, 6.25%,
1/01/41

 

 

1,520

 

 

1,443,271

 

Maryland State Energy Financing
Administration, RB, Cogeneration, AES
Warrior Run, AMT, 7.40%, 9/01/19

 

 

1,970

 

 

1,964,267

 

 

 

 

 

 

 

 

 

 

 

 

4,220,758

 

Massachusetts — 2.4%

 

 

 

 

 

 

 

Massachusetts Development Finance
Agency, Refunding RB, Boston
University, Series P, 5.45%, 5/15/59

 

 

1,165

 

 

1,101,181

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Massachusetts (concluded)

 

 

 

 

 

 

 

Massachusetts HFA, RB, M/F Housing,
Series A, AMT, 5.25%, 12/01/48

 

$

2,900

 

$

2,507,340

 

Massachusetts Health & Educational
Facilities Authority, Refunding RB,
Partners Healthcare, Series J1,
5.00%, 7/01/39

 

 

1,255

 

 

1,123,928

 

 

 

 

 

 

 

 

 

 

 

 

4,732,449

 

Michigan — 3.8%

 

 

 

 

 

 

 

City of Detroit Michigan, RB, Senior Lien,
Series B (AGM), 7.50%, 7/01/33

 

 

635

 

 

735,374

 

Flint Hospital Building Authority
Michigan, Refunding RB, Hurley
Medical Center (ACA), 6.00%,
7/01/20

 

 

1,245

 

 

1,166,615

 

Kalamazoo Hospital Finance Authority,
Refunding RB, Bronson Methodist
Hospital, 5.50%, 5/15/36

 

 

955

 

 

884,989

 

Michigan State Hospital Finance
Authority, Refunding RB, Hospital,
Henry Ford Health, 5.75%, 11/15/39

 

 

2,105

 

 

1,933,569

 

Michigan Strategic Fund, Refunding RB,
Detroit Edison Co., Pollution, Series B,
AMT, 5.65%, 9/01/29

 

 

3,000

 

 

2,932,380

 

 

 

 

 

 

 

 

 

 

 

 

7,652,927

 

Minnesota — 1.1%

 

 

 

 

 

 

 

City of Minneapolis Minnesota,
Refunding RB, Fairview Health
Services, Series A, 6.75%, 11/15/32

 

 

2,135

 

 

2,270,039

 

Mississippi — 0.8%

 

 

 

 

 

 

 

Mississippi Development Bank Special
Obligation, Refunding RB, Gulfport
Water & Sewer System Project (AGM):

 

 

 

 

 

 

 

5.25%, 7/01/17

 

 

350

 

 

385,347

 

5.25%, 7/01/19

 

 

435

 

 

466,872

 

University of Southern Mississippi, RB,
Campus Facilities Improvements
Project, 5.38%, 9/01/36

 

 

675

 

 

675,196

 

 

 

 

 

 

 

 

 

 

 

 

1,527,415

 

Montana — 0.7%

 

 

 

 

 

 

 

Montana Facility Finance Authority,
Refunding RB, Sisters of Leavenworth,
Series A, 4.75%, 1/01/40

 

 

1,575

 

 

1,394,521

 

New Hampshire — 1.6%

 

 

 

 

 

 

 

New Hampshire Health & Education
Facilities Authority, Refunding RB,
Dartmouth-Hitchcock, 6.00%,
8/01/38

 

 

3,035

 

 

3,130,694

 

New Jersey — 6.7%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.75%, 6/15/29

 

 

5,385

 

 

4,827,545

 

Continental Airlines Inc. Project,
AMT, 6.63%, 9/15/12

 

 

1,000

 

 

1,005,760

 

Continental Airlines Inc. Project,
AMT, 6.25%, 9/15/29

 

 

2,950

 

 

2,670,311

 

New Jersey State Turnpike Authority, RB,
Series C (AGM), 5.00%, 1/01/30

 

 

3,500

 

 

3,530,800

 

 

 

 

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011

3


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

Tobacco Settlement Financing Corp.
New Jersey, Refunding RB, Series 1A,
4.50%, 6/01/23

 

$

1,770

 

$

1,477,985

 

 

 

 

 

 

 

 

 

 

 

 

13,512,401

 

New York — 4.5%

 

 

 

 

 

 

 

Dutchess County Industrial
Development Agency New York,
Refunding RB, St. Francis Hospital,
Series A, 7.50%, 3/01/29

 

 

1,100

 

 

1,036,794

 

Long Island Power Authority, Refunding
RB, Series A, 5.75%, 4/01/39

 

 

1,450

 

 

1,480,160

 

Metropolitan Transportation Authority,
Refunding RB:

 

 

 

 

 

 

 

Series B, 5.00%, 11/15/34

 

 

1,740

 

 

1,662,953

 

Transportation, Series D, 5.25%,
11/15/40

 

 

840

 

 

768,130

 

New York City Industrial Development
Agency, RB:

 

 

 

 

 

 

 

Continental Airlines Inc. Project,
AMT, 8.00%, 11/01/12

 

 

300

 

 

306,717

 

Continental Airlines Inc. Project,
Mandatory Put Bonds, AMT, 8.38%,
11/01/16

 

 

725

 

 

739,442

 

Series C, 6.80%, 6/01/28

 

 

535

 

 

550,253

 

New York Liberty Development Corp.,
Refunding RB, Second Priority, Bank
of America Tower at One Bryant Park
Project, 6.38%, 7/15/49

 

 

850

 

 

854,275

 

Port Authority of New York & New
Jersey, RB, JFK International Air
Terminal:

 

 

 

 

 

 

 

6.00%, 12/01/36

 

 

900

 

 

863,253

 

6.00%, 12/01/42

 

 

875

 

 

825,886

 

 

 

 

 

 

 

 

 

 

 

 

9,087,863

 

North Carolina — 1.8%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, RB, Duke Energy Carolinas,
Series B, 4.38%, 10/01/31

 

 

1,120

 

 

998,525

 

North Carolina Capital Facilities Finance
Agency, Refunding RB, Duke Energy
Carolinas, Series A, 4.63%, 11/01/40

 

 

1,875

 

 

1,654,613

 

North Carolina Medical Care
Commission, RB, Duke University
Health System, Series A, 5.00%,
6/01/42

 

 

970

 

 

888,413

 

 

 

 

 

 

 

 

 

 

 

 

3,541,551

 

Pennsylvania — 7.4%

 

 

 

 

 

 

 

Allegheny County Hospital Development
Authority, Refunding RB, Health
System, West Penn, Series A, 5.38%,
11/15/40

 

 

1,510

 

 

1,003,486

 

Bucks County IDA, RB, Ann’s Choice Inc.
Facility, Series A, 6.25%, 1/01/35

 

 

1,700

 

 

1,506,506

 

Montgomery County Higher Education &
Health Authority, Refunding RB,
Abington Memorial Hospital, Series A,
5.13%, 6/01/33

 

 

645

 

 

589,311

 

Pennsylvania Economic Development
Financing Authority, RB:

 

 

 

 

 

 

 

American Water Co. Project, 6.20%,
4/01/39

 

 

2,520

 

 

2,587,889

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Pennsylvania (concluded)

 

 

 

 

 

 

 

Pennsylvania Economic Development
Financing Authority, RB (concluded):

 

 

 

 

 

 

 

National Gypsum Co., Series B,
AMT, 6.13%, 11/01/27

 

$

3,500

 

$

2,787,785

 

Pennsylvania Turnpike Commission, RB,
Sub-Series B, 5.25%, 6/01/39

 

 

3,775

 

 

3,572,735

 

Philadelphia Authority for Industrial
Development, RB:

 

 

 

 

 

 

 

Arbor House Inc. Project, Series E,
6.10%, 7/01/33

 

 

1,105

 

 

1,001,318

 

Commercial Development, AMT,
7.75%, 12/01/17

 

 

725

 

 

725,333

 

Saligman House Project, Series C
(HUD), 6.10%, 7/01/33

 

 

1,245

 

 

1,128,182

 

 

 

 

 

 

 

 

 

 

 

 

14,902,545

 

Puerto Rico — 3.8%

 

 

 

 

 

 

 

Commonwealth of Puerto Rico, GO,
Refunding, Public Improvement,
Series C, 6.00%, 7/01/39

 

 

2,070

 

 

2,020,279

 

Puerto Rico Industrial Medical &
Environmental Pollution Control
Facilities Financing Authority, RB,
Special Facilities, American Airlines,
Series A, 6.45%, 12/01/25

 

 

1,205

 

 

1,044,289

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A, 6.50%,
8/01/44

 

 

3,860

 

 

3,994,830

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, CAB, First
Sub-Series C, 6.52%, 8/01/38 (c)

 

 

2,975

 

 

470,496

 

 

 

 

 

 

 

 

 

 

 

 

7,529,894

 

South Carolina — 1.1%

 

 

 

 

 

 

 

South Carolina State Ports Authority, RB,
5.25%, 7/01/40

 

 

2,285

 

 

2,192,435

 

Tennessee — 3.1%

 

 

 

 

 

 

 

Educational Funding of the South Inc.,
RB, Senior, Sub-Series B, AMT, 6.20%,
12/01/21

 

 

2,685

 

 

2,686,557

 

Hardeman County Correctional Facilities
Corp. Tennessee, RB, 7.75%,
8/01/17

 

 

3,025

 

 

2,895,379

 

Rutherford County Health & Educational
Facilities Board, RB, Ascension Health
Senior Credit Group, 5.00%,
11/15/40

 

 

710

 

 

638,155

 

 

 

 

 

 

 

 

 

 

 

 

6,220,091

 

Texas — 13.4%

 

 

 

 

 

 

 

Brazos River Authority, Refunding RB,
TXU Electric Co. Project, Series C,
Mandatory Put Bonds, AMT, 5.75%,
5/01/36 (d)

 

 

2,570

 

 

2,418,961

 

Brazos River Harbor Navigation District,
Refunding RB, Dow Chemical Co.
Project, Series A7, AMT, 6.63%,
5/15/33

 

 

3,655

 

 

3,659,971

 

City of Dallas Texas, Refunding RB,
5.00%, 10/01/35

 

 

1,050

 

 

1,048,446

 

City of Houston Texas, RB, Senior Lien,
Series A, 5.50%, 7/01/39

 

 

1,070

 

 

1,072,525

 

 

 

 

4

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Texas (concluded)

 

 

 

 

 

 

 

Harris County Health Facilities
Development Corp., Refunding RB,
Memorial Hermann Healthcare
System, Series B, 7.25%, 12/01/35

 

$

1,910

 

$

2,051,092

 

La Vernia Higher Education Finance
Corp., RB, KIPP Inc., 6.38%, 8/15/44

 

 

820

 

 

801,673

 

Matagorda County Hospital District
Texas, RB (FHA), 5.00%, 2/15/35

 

 

3,500

 

 

3,106,145

 

North Texas Tollway Authority, RB, Toll,
Second Tier, Series F, 6.13%,
1/01/31

 

 

4,190

 

 

4,195,866

 

San Antonio Energy Acquisition Public
Facility Corp., RB, Gas Supply:

 

 

 

 

 

 

 

5.50%, 8/01/24

 

 

1,100

 

 

1,086,602

 

5.50%, 8/01/25

 

 

1,120

 

 

1,100,266

 

Texas Private Activity Bond Surface
Transportation Corp., RB, Senior Lien:

 

 

 

 

 

 

 

LBJ Infrastructure Group LLC, LBJ
Freeway Managed Lanes Project,
7.00%, 6/30/40

 

 

2,990

 

 

3,010,212

 

NTE Mobility Partners LLC, North
Tarrant Express Managed Lanes
Project, 6.88%, 12/31/39

 

 

2,695

 

 

2,686,403

 

Texas State Public Finance Authority,
Refunding ERB, KIPP Inc., Series A
(ACA), 5.00%, 2/15/36

 

 

875

 

 

714,682

 

 

 

 

 

 

 

 

 

 

 

 

26,952,844

 

U.S. Virgin Islands — 1.7%

 

 

 

 

 

 

 

United States Virgin Islands, Refunding
RB, Senior Secured, Hovensa Coker
Project, AMT, 6.50%, 7/01/21

 

 

3,460

 

 

3,434,742

 

Utah — 1.1%

 

 

 

 

 

 

 

City of Riverton Utah, RB, IHC Health
Services Inc., 5.00%, 8/15/41

 

 

2,525

 

 

2,311,360

 

Vermont — 1.2%

 

 

 

 

 

 

 

Vermont Educational & Health Buildings
Financing Agency, RB, Developmental
& Mental Health, Series A, 6.00%,
6/15/17

 

 

2,370

 

 

2,320,822

 

Virginia — 0.8%

 

 

 

 

 

 

 

Virginia HDA, RB, Sub-Series H-1
(NPFGC), 5.35%, 7/01/31

 

 

1,565

 

 

1,566,502

 

Washington — 0.6%

 

 

 

 

 

 

 

Seattle Housing Authority Washington,
HRB, Replacement Housing Projects,
6.13%, 12/01/32

 

 

1,255

 

 

1,112,482

 

Wisconsin — 4.6%

 

 

 

 

 

 

 

State of Wisconsin, Refunding RB,
Series A, 6.00%, 5/01/36

 

 

4,980

 

 

5,281,738

 

Wisconsin Health & Educational
Facilities Authority, RB:

 

 

 

 

 

 

 

Ascension Health Senior Credit
Group, 5.00%, 11/15/33

 

 

1,710

 

 

1,532,109

 

New Castle Place Project, Series A,
7.00%, 12/01/31

 

 

825

 

 

652,154

 

SynergyHealth Inc., 6.00%,
11/15/32

 

 

1,755

 

 

1,757,808

 

 

 

 

 

 

 

 

 

 

 

 

9,223,809

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Wyoming — 0.1%

 

 

 

 

 

 

 

Wyoming Municipal Power Agency, RB,
Series A, 5.00%, 1/01/42

 

$

210

 

$

189,019

 

Total Municipal Bonds – 122.3%

 

 

 

 

 

245,296,788

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

 

 

 

 

 

 

California — 5.0%

 

 

 

 

 

 

 

Bay Area Toll Authority, Refunding RB,
San Francisco Bay Area, Series F-1,
5.63%, 4/01/44

 

 

2,270

 

 

2,302,093

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/39

 

 

1,845

 

 

1,858,745

 

Los Angeles Community College District
California, GO, Election of 2001,
Series A (AGM), 5.00%, 8/01/32

 

 

1,620

 

 

1,526,380

 

San Diego Community College District
California, GO, Election of 2002,
5.25%, 8/01/33

 

 

748

 

 

751,871

 

Sequoia Union High School District
California, GO, Refunding, Election of
2004, Series B (AGM), 5.50%,
7/01/35

 

 

3,494

 

 

3,457,116

 

 

 

 

 

 

 

 

 

 

 

 

9,896,205

 

Colorado — 2.7%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB
(AGM), Catholic Health:

 

 

 

 

 

 

 

Series C-3, 5.10%, 10/01/41

 

 

2,580

 

 

2,360,158

 

Series C-7, 5.00%, 9/01/36

 

 

1,650

 

 

1,516,168

 

Colorado Health Facilities Authority,
Refunding RB, Catholic Healthcare,
Series A, 5.50%, 7/01/34

 

 

1,490

 

 

1,455,022

 

 

 

 

 

 

 

 

 

 

 

 

5,331,348

 

Connecticut — 3.2%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University:

 

 

 

 

 

 

 

Series T-1, 4.70%, 7/01/29

 

 

3,180

 

 

3,201,942

 

Series X-3, 4.85%, 7/01/37

 

 

3,270

 

 

3,273,074

 

 

 

 

 

 

 

 

 

 

 

 

6,475,016

 

Georgia — 1.1%

 

 

 

 

 

 

 

Private Colleges & Universities Authority,
Refunding RB, Emory University,
Series C, 5.00%, 9/01/38

 

 

2,259

 

 

2,212,778

 

Massachusetts — 2.5%

 

 

 

 

 

 

 

Massachusetts School Building
Authority, RB, Series A (AGM), 5.00%,
8/15/30

 

 

4,994

 

 

4,997,889

 

New Hampshire — 0.7%

 

 

 

 

 

 

 

New Hampshire Health & Education
Facilities Authority, Refunding RB,
Dartmouth College, 5.25%, 6/01/39

 

 

1,409

 

 

1,437,791

 

 

 

 

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011

5


 

 

 

 

Schedule of Investments (continued)

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

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

Par
(000)

 

Value

 

New York — 4.7%

 

 

 

 

 

 

 

New York City Municipal Water Finance
Authority, RB, Series FF-2, 5.50%,
6/15/40

 

$

1,110

 

$

1,134,256

 

New York State Dormitory Authority,
ERB, Series F, 5.00%, 3/15/35

 

 

4,035

 

 

3,935,049

 

Sales Tax Asset Receivable Corp., RB,
Series A (AMBAC), 5.25%, 10/15/27

 

 

4,240

 

 

4,403,075

 

 

 

 

 

 

 

 

 

 

 

 

9,472,380

 

North Carolina — 0.6%

 

 

 

 

 

 

 

North Carolina Capital Facilities Finance
Agency, Refunding RB, Wake Forest
University, 5.00%, 1/01/38

 

 

1,080

 

 

1,072,051

 

Ohio — 4.7%

 

 

 

 

 

 

 

State of Ohio, Refunding RB, Cleveland
Clinic Health, Series A, 5.50%,
1/01/39

 

 

9,650

 

 

9,447,350

 

Tennessee — 1.1%

 

 

 

 

 

 

 

Shelby County Health Educational &
Housing Facilities Board, Refunding
RB, St. Jude’s Children’s Research
Hospital, 5.00%, 7/01/31

 

 

2,250

 

 

2,204,797

 

Texas — 2.2%

 

 

 

 

 

 

 

County of Harris Texas, RB, Senior Lien,
Toll Road, Series A, 5.00%, 8/15/38

 

 

4,620

 

 

4,446,196

 

Virginia — 8.3%

 

 

 

 

 

 

 

University of Virginia, Refunding RB,
General, 5.00%, 6/01/40

 

 

3,750

 

 

3,788,738

 

Virginia HDA, RB, Sub-Series H-1
(NPFGC), 5.38%, 7/01/36

 

 

10,940

 

 

10,943,610

 

Virginia Small Business Financing
Authority, Refunding RB, Sentara
Healthcare, 5.00%, 11/01/40

 

 

2,094

 

 

1,959,167

 

 

 

 

 

 

 

 

 

 

 

 

16,691,515

 

Washington — 0.9%

 

 

 

 

 

 

 

Central Puget Sound Regional Transit
Authority, RB, Series A (AGM), 5.00%,
11/01/32

 

 

1,860

 

 

1,847,294

 

Wisconsin — 1.8%

 

 

 

 

 

 

 

Wisconsin Health & Educational
Facilities Authority, Refunding RB,
Froedtert & Community Health Inc.,
5.25%, 4/01/39

 

 

3,959

 

 

3,642,996

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 39.5%

 

 

 

 

 

79,175,606

 

Total Long-Term Investments
(Cost – $336,084,573) – 161.8%

 

 

 

 

 

324,472,394

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

FFI Institutional Tax-Exempt Fund,
0.15% (f)(g)

 

 

4,009,514

 

$

4,009,514

 

Total Short-Term Securities
(Cost – $4,009,514) – 2.0%

 

 

 

 

 

4,009,514

 

Total Investments
(Cost – $340,094,087*) – 163.8%

 

 

 

 

 

328,481,908

 

Liabilities in Excess of Other Assets – (0.4)%

 

 

 

 

 

(713,734

)

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (21.7)%

 

 

 

 

 

(43,517,298

)

Preferred Shares, at Redemption Value – (41.7)%

 

 

 

 

 

(83,707,300

)

 

 

 

 

 

Net Assets Applicable to Common Shares– 100.0%

 

 

 

 

$

200,543,576

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of January 31, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

296,254,157

 

 

 

Gross unrealized appreciation

 

$

4,362,019

 

Gross unrealized depreciation

 

 

(15,621,890

)

 

 

Net unrealized depreciation

 

$

(11,259,871

)

 

 

 

 

(a)

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

 

 

(b)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

Morgan Stanley Co., Inc.

 

$

2,160,224

 

$

20,878

 

Goldman Sachs & Co.

 

$

1,542,556

 

$

19,217

 

 

 

(c)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(d)

Variable rate security. Rate shown is as of report date.

 

 

(e)

Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(f)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
at
April 30,
2010

 

Net
Activity

 

Shares
at
January 31,
2011

 

Income

 

 

FFI Institutional Tax-Exempt Fund

 

 

3,354,654

 

 

654,860

 

 

4,009,514

 

$

4,240

 

 

 

 

(g)

Represents the current yield as of report date.

 

 

 

6

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011


 

 

 

Schedule of Investments (concluded)

BlackRock MuniHoldings Fund, Inc. (MHD)

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments, which are as follows:

 

 

 

•

Level 1 — price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

Level 2 — other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.

The following table summarizes the inputs used as of January 31, 2011 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments in Securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term Investments1

 

 

—

 

 

$324,472,394

 

 

—

 

 

$324,472,394

 

Short-Term Securities

 

$

4,009,514

 

 

—

 

 

—

 

 

4,009,514

 

Total

 

$

4,009,514

 

 

$324,472,394

 

 

—

 

 

$328,481,908

 

 

 

 

 

1

See above Schedule of Investments for values in each state or political subdivision.

 

 

 

BLACKROCK MUNIHOLDINGS FUND, INC.

JANUARY 31, 2011

7

Item 2 –

Controls and Procedures

 

 

2(a) –

The registrant's principal executive and principal financial officers or persons performing similar functions have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the ″1940 Act″)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

 

2(b) –

There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

 

 

Item 3 –

Exhibits

 

 

 

Certifications – Attached hereto

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

BlackRock MuniHoldings Fund, Inc.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniHoldings Fund, Inc.
   
  Date: March 25, 2011
   
  Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
   
  By: /s/ John M. Perlowski  
    John M. Perlowski
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniHoldings Fund, Inc.
   
  Date: March 25, 2011
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniHoldings Fund, Inc.
     
  Date: March 25, 2011