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: Anne F. Ackerley, 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: 04/30/2010

 

Date of reporting period: 01/31/2010

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments January 31, 2010 (Unaudited)

BlackRock MuniHoldings Fund, Inc. (MHD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Alabama — 2.7%

 

 

 

 

 

 

 

Camden IDB Alabama, RB,
Weyerhaeuser Co. Project, Series A,
6.13%, 12/01/13 (a)

 

$

1,750

 

$

2,041,025

 

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

 

 

4,550

 

 

3,686,364

 

 

 

 

 

 

 

 

 

 

 

 

5,727,389

 

Arizona — 5.4%

 

 

 

 

 

 

 

County of Pinal Arizona, COP, 5.00%,
12/01/29

 

 

975

 

 

956,894

 

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

 

 

2,200

 

 

1,504,162

 

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

 

 

2,215

 

 

1,478,756

 

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

 

 

770

 

 

777,892

 

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

 

 

1,370

 

 

1,409,661

 

Salt Verde Financial Corp., RB, Senior,
5.00%, 12/01/32

 

 

3,505

 

 

3,079,879

 

Salt Verde Financial Corp., RB, Senior,
5.00%, 12/01/37

 

 

2,360

 

 

2,008,549

 

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

 

 

305

 

 

305,458

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

11,521,251

 

California — 16.4%

 

 

 

 

 

 

 

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

 

 

580

 

 

568,406

 

California Health Facilities Financing
Authority, RB, Cedars-Sinai Medical
Center, 5.00%, 8/15/39

 

 

1,020

 

 

941,725

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (continued)

 

 

 

 

 

 

 

California Health Facilities Financing
Authority, Refunding RB, St. Joseph
Health System, Series A, 5.75%,
7/01/39

 

$

1,530

 

$

1,575,900

 

California State Public Works Board, RB,
Department of Corrections, Series C,
5.25%, 6/01/28

 

 

2,420

 

 

2,281,164

 

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

 

 

820

 

 

833,587

 

California Statewide Communities
Development Authority, RB, Health
Facility, Memorial Health Services,
Series A, 6.00%, 10/01/23

 

 

3,870

 

 

4,011,758

 

California Statewide Communities
Development Authority, RB, John Muir
Health, 5.13%, 7/01/39

 

 

1,510

 

 

1,434,153

 

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

 

 

555

 

 

556,332

 

Montebello Unified School District
California, GO, CAB (NPFGC) 5.62%,
8/01/22 (b)

 

 

2,405

 

 

1,152,885

 

Montebello Unified School District
California, GO, CAB (NPFGC) 5.61%,
8/01/23 (b)

 

 

2,455

 

 

1,093,040

 

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

 

 

3,475

 

 

1,154,464

 

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

 

 

6,600

 

 

6,732,330

 

State of California, GO, Various Purpose,
5.00%, 6/01/32

 

 

1,755

 

 

1,598,682

 

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

 

 

8,370

 

 

8,940,918

 

 

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

American Capital Access 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

CIFG

CDC IXIS Financial Guaranty

COP

Certificates of Participation

EDA

Economic Development Authority

EDC

Economic Development Corp.

FHA

Federal Housing Administration

GNMA

Government National Mortgage Association

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

IDB

Industrial Development Board

IDRB

Industrial Development Revenue Bonds

NPFGC

National Public Finance Guaranty Corp.

M/F

Multi-Family

RB

Revenue Bonds

 

 

 

BlackRock MuniHoldings Fund, Inc.

January 31, 2010

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings Fund, Inc. (MHD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

California (concluded)

 

 

 

 

 

 

 

Tustin Unified School District California,
Special Tax Bonds, Senior Lien,
Community Facilities District 97-1,
Series A (AGM) 5.00%, 9/01/32

 

$

1,985

 

$

1,963,721

 

 

 

 

 

 

 

 

 

 

 

 

34,839,065

 

Colorado — 2.8%

 

 

 

 

 

 

 

Elk Valley Public Improvement Corp.,
RB, Public Improvement Fee, Series A,
7.35%, 9/01/31

 

 

2,645

 

 

2,413,695

 

Platte River Power Authority Colorado,
RB, Series HH, 5.00%, 6/01/27

 

 

870

 

 

931,596

 

Platte River Power Authority Colorado,
RB, Series HH, 5.00%, 6/01/28

 

 

395

 

 

420,754

 

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

 

 

1,000

 

 

937,870

 

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

 

 

1,250

 

 

1,316,000

 

 

 

 

 

 

 

 

 

 

 

 

6,019,915

 

Connecticut — 1.2%

 

 

 

 

 

 

 

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

 

 

2,735

 

 

2,498,505

 

District of Columbia — 2.2%

 

 

 

 

 

 

 

Metropolitan Washington Airports
Authority, RB, CAB, Second Senior
Lien, Series B (AGC) 7.10%,
10/01/35 (b)

 

 

13,485

 

 

2,629,710

 

Metropolitan Washington Airports
Authority, RB, First Senior Lien,
Series A, 5.00%, 10/01/39

 

 

505

 

 

510,368

 

Metropolitan Washington Airports
Authority, RB, First Senior Lien,
Series A, 5.25%, 10/01/44

 

 

1,470

 

 

1,513

 

 

 

 

 

 

 

 

 

 

 

 

4,653,796

 

Florida — 7.1%

 

 

 

 

 

 

 

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

 

 

1,195

 

 

1,224,445

 

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

 

 

750

 

 

773,662

 

County of Miami-Dade Florida, RB, CAB,
Sub-Series A (NPFGC) 5.24%,
10/01/37 (b)

 

 

2,340

 

 

342,787

 

County of Miami-Dade Florida, RB,
Miami International Airport, Series A,
AMT (AGC), 5.25%, 10/01/38

 

 

1,795

 

 

1,768,685

 

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

 

 

810

 

 

802,021

 

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

 

 

2,095

 

 

1,817,643

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Florida (concluded)

 

 

 

 

 

 

 

Hillsborough County IDA, RB, H. Lee
Moffitt Cancer Center Project,
Series A, 5.25%, 7/01/37

 

$

3,190

 

$

2,938,118

 

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

 

 

1,900

 

 

1,463,057

 

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

 

 

2,495

 

 

2,189,787

 

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

 

 

695

 

 

405,386

 

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

 

 

1,560

 

 

1,285,331

 

 

 

 

 

 

 

 

 

 

 

 

15,010,922

 

Georgia — 3.0%

 

 

 

 

 

 

 

City of Atlanta Georgia, Tax Allocation
Bonds, Refunding, Atlantic Station
Project, (AGC) 5.25%, 12/01/20

 

 

625

 

 

665,962

 

City of Atlanta Georgia, Tax Allocation
Bonds, Refunding, Atlantic Station
Project, (AGC) 5.25%, 12/01/21

 

 

1,950

 

 

2,065,674

 

City of Atlanta Georgia, Tax Allocation
Bonds, Refunding, Atlantic Station
Project, (AGC) 5.25%, 12/01/22

 

 

450

 

 

472,392

 

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

 

 

585

 

 

587,621

 

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

 

 

2,410

 

 

2,494,133

 

 

 

 

 

 

 

 

 

 

 

 

6,285,782

 

Guam — 1.0%

 

 

 

 

 

 

 

Territory of Guam, GO, Series A, 6.00%,
11/15/19

 

 

440

 

 

446,855

 

Territory of Guam, GO, Series A, 6.75%,
11/15/29

 

 

770

 

 

797,451

 

Territory of Guam, GO, Series A, 7.00%,
11/15/39

 

 

800

 

 

820,968

 

 

 

 

 

 

 

 

 

 

 

 

2,065,274

 

Illinois — 3.1%

 

 

 

 

 

 

 

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

 

 

1,200

 

 

1,100,952

 

Illinois Finance Authority, RB, Monarch
Landing Inc. Facility, Series A, 7.00%,
12/01/37 (c) (d)

 

 

1,010

 

 

323,200

 

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

 

 

1,115

 

 

1,151,449

 

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

 

 

3,555

 

 

3,578,392

 

 

 

 

2

BlackRock MuniHoldings Fund, Inc.

January 31, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings Fund, Inc. (MHD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Illinois (concluded)

 

 

 

 

 

 

 

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

 

$

440

 

$

453,447

 

 

 

 

 

 

 

 

 

 

 

 

6,607,440

 

Indiana — 3.6%

 

 

 

 

 

 

 

County of St. Joseph Indiana, Refunding
RB, Notre Dame du Lac Project,
5.00%, 3/01/36

 

 

1,570

 

 

1,650,934

 

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

 

 

585

 

 

591,628

 

Indiana Finance Authority, Refunding
RB, Duke Energy Indiana Inc.,
Series C, 4.95%, 10/01/40

 

 

2,335

 

 

2,264,623

 

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

 

 

2,300

 

 

2,352,762

 

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

 

 

775

 

 

826,181

 

 

 

 

 

 

 

 

 

 

 

 

7,686,128

 

Kansas — 1.2%

 

 

 

 

 

 

 

Kansas Development Finance Authority,
Refunding RB, Adventist Health,
5.75%, 11/15/38

 

 

2,465

 

 

2,606,590

 

Kentucky — 1.0%

 

 

 

 

 

 

 

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

 

 

2,000

 

 

2,095,520

 

Louisiana — 3.4%

 

 

 

 

 

 

 

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

 

 

570

 

 

586,057

 

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

 

 

3,500

 

 

3,609,270

 

Louisiana Public Facilities Authority, RB,
Black & Gold Facilities Project,
Series A (CIFG), 5.00%, 7/01/39

 

 

3,635

 

 

3,078,154

 

 

 

 

 

 

 

 

 

 

 

 

7,273,481

 

Maine — 0.5%

 

 

 

 

 

 

 

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

 

 

1,080

 

 

1,083,985

 

Maryland — 1.1%

 

 

 

 

 

 

 

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

 

 

300

 

 

303,000

 

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

 

 

1,970

 

 

1,970,453

 

 

 

 

 

 

 

 

 

 

 

 

2,273,453

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Massachusetts — 2.5%

 

 

 

 

 

 

 

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

 

$

1,165

 

$

1,188,300

 

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

 

 

2,900

 

 

2,806,997

 

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

 

 

1,255

 

 

1,259,631

 

 

 

 

 

 

 

 

 

 

 

 

5,254,928

 

Michigan — 3.3%

 

 

 

 

 

 

 

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

 

 

635

 

 

753,618

 

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

 

 

1,310

 

 

1,219,623

 

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

 

 

2,105

 

 

2,054,964

 

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

 

 

3,000

 

 

3,002,070

 

 

 

 

 

 

 

 

 

 

 

 

7,030,275

 

Minnesota — 1.1%

 

 

 

 

 

 

 

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

 

 

2,135

 

 

2,369,167

 

Mississippi — 1.3%

 

 

 

 

 

 

 

Mississippi Development Bank Special
Obligation, Refunding RB, Gulfport
Water & Sewer System Project, (AGM)
5.25%, 7/01/17

 

 

1,000

 

 

1,122,700

 

Mississippi Development Bank Special
Obligation, Refunding RB, Gulfport
Water & Sewer System Project, (AGM)
5.25%, 7/01/19

 

 

785

 

 

862,628

 

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

 

 

675

 

 

713,023

 

 

 

 

 

 

 

 

 

 

 

 

2,698,351

 

New Hampshire — 1.5%

 

 

 

 

 

 

 

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

 

 

3,035

 

 

3,171,302

 

New Jersey — 5.9%

 

 

 

 

 

 

 

New Jersey EDA, RB, Cigarette Tax,
5.75%, 6/15/29

 

 

5,385

 

 

5,285,970

 

New Jersey EDA, RB, Continental
Airlines Inc. Project, AMT 6.63%,
9/15/12

 

 

1,000

 

 

984,240

 

New Jersey EDA, RB, Continental
Airlines Inc. Project, AMT 6.25%,
9/15/29

 

 

2,950

 

 

2,576,618

 

 

 

 

BlackRock MuniHoldings Fund, Inc.

January 31, 2010

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)

 

 

 

 

 

 

 

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

 

$

3,500

 

$

3,634,260

 

 

 

 

 

 

 

 

 

 

 

 

12,481,088

 

New York — 5.2%

 

 

 

 

 

 

 

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

 

 

1,100

 

 

1,081,300

 

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

 

 

1,450

 

 

1,569,016

 

Metropolitan Transportation Authority,
Refunding RB, Series B, 5.00%,
11/15/34

 

 

1,740

 

 

1,799,821

 

New York City Industrial Development
Agency, RB, Continental Airlines Inc.
Project, AMT, 8.00%, 11/01/12

 

 

420

 

 

362,368

 

New York City Industrial Development
Agency, RB, Continental Airlines Inc.
Project, AMT, 8.38%, 11/01/16

 

 

725

 

 

545,004

 

New York City Industrial Development
Agency, RB, Series C, 6.80%,
6/01/28

 

 

535

 

 

563,633

 

Tobacco Settlement Financing Corp.
New York, RB, Asset-Backed,
Series B-1C, 5.50%, 6/01/17

 

 

3,500

 

 

3,656,555

 

Tobacco Settlement Financing Corp.
New York, RB, Asset-Backed,
Series B-1C, 5.50%, 6/01/22

 

 

1,400

 

 

1,483,174

 

 

 

 

 

 

 

 

 

 

 

 

11,060,871

 

North Carolina — 2.3%

 

 

 

 

 

 

 

City of Charlotte North Carolina, RB,
Series B, 5.00%, 7/01/38

 

 

660

 

 

703,600

 

City of Charlotte North Carolina, RB,
Series B, 4.50%, 7/01/39

 

 

640

 

 

637,907

 

North Carolina Eastern Municipal Power
Agency, Refunding RB, Series B,
5.00%, 1/01/26

 

 

1,300

 

 

1,337,661

 

North Carolina Medical Care
Commission, RB, Duke University
Health System, Series A, 5.00%,
6/01/39

 

 

440

 

 

441,602

 

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

 

 

970

 

 

965,305

 

North Carolina Municipal Power Agency
No. 1 Catawba, Refunding RB,
Series A, 5.00%, 1/01/30

 

 

740

 

 

754,378

 

 

 

 

 

 

 

 

 

 

 

 

4,840,453

 

Ohio — 0.9%

 

 

 

 

 

 

 

Buckeye Tobacco Settlement Financing
Authority, RB, Asset-Backed, Senior
Series A-2, 6.50%, 6/01/47

 

 

2,160

 

 

1,811,419

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Pennsylvania — 9.7%

 

 

 

 

 

 

 

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

 

$

1,700

 

$

1,518,542

 

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

 

 

820

 

 

807,323

 

Pennsylvania Economic Development
Financing Authority, RB, American
Water Co. Project, 6.20%, 4/01/39

 

 

2,520

 

 

2,703,658

 

Pennsylvania Economic Development
Financing Authority, RB, Aqua
Pennsylvania Inc. Project, 5.00%,
11/15/40

 

 

1,315

 

 

1,314,908

 

Pennsylvania Economic Development
Financing Authority, RB, National
Gypsum Co., Series B, AMT, 6.13%,
11/01/27

 

 

3,500

 

 

2,438,135

 

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

 

 

4,775

 

 

4,816,733

 

Philadelphia Authority for Industrial
Development, RB, Arbor House Inc.
Project, Series E, 6.10%, 7/01/33

 

 

1,105

 

 

1,013,727

 

Philadelphia Authority for Industrial
Development, RB, Commercial
Development, AMT, 7.75%, 12/01/17

 

 

725

 

 

724,884

 

Philadelphia Authority for Industrial
Development, RB, Saligman House
Project, Series C (HUD), 6.10%,
7/01/33

 

 

1,245

 

 

1,142,163

 

Sayre Health Care Facilities Authority,
RB, Guthrie Health Issue, Series B,
7.13%, 12/01/11 (a)

 

 

3,500

 

 

4,170,565

 

 

 

 

 

 

 

 

 

 

 

 

20,650,638

 

Puerto Rico — 3.7%

 

 

 

 

 

 

 

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

 

 

2,070

 

 

2,104,114

 

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

 

 

2,060

 

 

1,565,456

 

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

 

 

3,860

 

 

4,119,237

 

 

 

 

 

 

 

 

 

 

 

 

7,788,807

 

South Dakota — 0.8%

 

 

 

 

 

 

 

South Dakota Health & Educational
Facilities Authority, RB, Sanford
Health, 5.00%, 11/01/40

 

 

1,710

 

 

1,647,500

 

Tennessee — 3.8%

 

 

 

 

 

 

 

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

 

 

2,685

 

 

2,686,853

 

 

 

 

4

BlackRock MuniHoldings Fund, Inc.

January 31, 2010


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings Fund, Inc. (MHD)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Tennessee (concluded)

 

 

 

 

 

 

 

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

 

$

3,410

 

$

3,192,374

 

Shelby County Health Educational &
Housing Facilities Board, Refunding
RB, Methodist Healthcare, 6.50%,
9/01/12 (a)

 

 

1,845

 

 

2,105,200

 

 

 

 

 

 

 

 

 

 

 

 

7,984,427

 

Texas — 12.9%

 

 

 

 

 

 

 

Brazos River Authority, Refunding RB,
TXU Electric Co. Project,
Series C, AMT, 5.75%, 5/01/36

 

 

2,660

 

 

2,500,879

 

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

 

 

3,655

 

 

3,708,546

 

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

 

 

1,070

 

 

1,136,575

 

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

 

 

1,910

 

 

2,139,888

 

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

 

 

820

 

 

835,506

 

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

 

 

4,500

 

 

4,242,555

 

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

 

 

4,190

 

 

4,380,854

 

San Antonio Energy Acquisition Public
Facility Corp., RB, Gas Supply, 5.50%,
8/01/23

 

 

2,425

 

 

2,509,245

 

San Antonio Energy Acquisition Public
Facility Corp., RB, Gas Supply, 5.50%,
8/01/24

 

 

1,100

 

 

1,150,468

 

San Antonio Energy Acquisition Public
Facility Corp., RB, Gas Supply, 5.50%,
8/01/25

 

 

1,120

 

 

1,170,053

 

Texas Department of Housing &
Community Affairs, RB, Series A, AMT
(GNMA), 5.70%, 1/01/33

 

 

705

 

 

737,578

 

Texas Private Activity Bond Surface
Transportation Corp., RB, Senior Lien,
Note Mobility, 6.88%, 12/31/39

 

 

2,695

 

 

2,805,414

 

 

 

 

 

 

 

 

 

 

 

 

27,317,561

 

Utah — 1.2%

 

 

 

 

 

 

 

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

 

 

2,525

 

 

2,520,960

 

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

 

 

3,499,063

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Vermont — 1.1%

 

 

 

 

 

 

 

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

 

$

2,370

 

$

2,390,856

 

Virginia — 0.9%

 

 

 

 

 

 

 

Chesterfield County IDA, Refunding RB,
Virginia Electric & Power Co., Series A,
5.88%, 6/01/17

 

 

1,150

 

 

1,192,757

 

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

 

 

670

 

 

667,863

 

 

 

 

 

 

 

 

 

 

 

 

1,860,620

 

Washington — 0.6%

 

 

 

 

 

 

 

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

 

 

1,305

 

 

1,170,167

 

Wisconsin — 3.8%

 

 

 

 

 

 

 

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

 

 

4,980

 

 

5,547,969

 

Wisconsin Health & Educational
Facilities Authority, RB, New Castle
Place Project, Series A, 7.00%,
12/01/31

 

 

825

 

 

782,595

 

Wisconsin Health & Educational
Facilities Authority, RB, SynergyHealth
Inc., 6.00%, 11/15/32

 

 

1,755

 

 

1,803,982

 

 

 

 

 

 

 

 

 

 

 

 

8,134,546

 

Wyoming — 0.1%

 

 

 

 

 

 

 

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

 

 

210

 

 

203,167

 

Total Municipal Bonds – 120.0%

 

 

 

 

 

254,134,662

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

 

 

 

 

 

 

California — 4.9%

 

 

 

 

 

 

 

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

 

 

2,270

 

 

2,407,875

 

California Educational Facilities
Authority, RB, University of Southern
California, Series A, 5.25%, 10/01/18

 

 

1,845

 

 

1,947,397

 

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

 

 

1,620

 

 

1,637,156

 

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

 

 

748

 

 

764,693

 

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

 

 

3,494

 

 

3,606,597

 

 

 

 

 

 

 

 

 

 

 

 

10,363,718

 

 

 

 

BlackRock MuniHoldings Fund, Inc.

January 31, 2010

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

 

Colorado — 2.7%

 

 

 

 

 

 

 

Colorado Health Facilities Authority, RB,
Catholic Health, Series C7 (AGM),
5.00%, 9/01/36

 

$

1,650

 

$

1,623,682

 

Colorado Health Facilities Authority, RB,
Catholic Health, Series C3 (AGM),
5.10%, 10/01/41

 

 

2,580

 

 

2,543,906

 

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

 

 

1,490

 

 

1,570,169

 

 

 

 

 

 

 

 

 

 

 

 

5,737,757

 

Connecticut — 3.2%

 

 

 

 

 

 

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University,
Series T1, 4.70%, 7/01/29

 

 

3,180

 

 

3,360,115

 

Connecticut State Health & Educational
Facility Authority, RB, Yale University,
Series X3, 4.85%, 7/01/37

 

 

3,270

 

 

3,408,452

 

 

 

 

 

 

 

 

 

 

 

 

6,768,567

 

Georgia — 1.1%

 

 

 

 

 

 

 

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

 

 

2,259

 

 

2,342,186

 

Massachusetts — 2.5%

 

 

 

 

 

 

 

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

 

 

4,994

 

 

5,237,549

 

New Hampshire — 0.7%

 

 

 

 

 

 

 

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

 

 

1,409

 

 

1,513,593

 

New York — 2.8%

 

 

 

 

 

 

 

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

 

 

1,110

 

 

1,214,232

 

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

 

 

4,240

 

 

4,673,459

 

 

 

 

 

 

 

 

 

 

 

 

5,887,691

 

North Carolina — 0.5%

 

 

 

 

 

 

 

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

 

 

1,080

 

 

1,128,978

 

Ohio — 4.7%

 

 

 

 

 

 

 

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

 

 

9,650

 

 

9,993,444

 

Tennessee — 1.1%

 

 

 

 

 

 

 

Shelby County Health Educational &
Housing Facilities Board, RB, Saint
Judes Children’s Research Hospital,
5.00%, 7/01/31

 

 

2,250

 

 

2,284,470

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond Trusts (e)

 

Par
(000)

 

Value

 

Texas — 2.2%

 

 

 

 

 

 

 

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

 

$

4,620

 

$

4,732,636

 

Virginia — 8.2%

 

 

 

 

 

 

 

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

 

 

3,750

 

 

3,956,325

 

Virginia HDA, RB, Series H, Sub-Series
H1, (NPFGC) 5.35%, 7/01/31

 

 

2,370

 

 

2,392,159

 

Virginia HDA, RB, Sub-Series H1,
(NPFGC) 5.38%, 7/01/36

 

 

10,940

 

 

11,023,582

 

 

 

 

 

 

 

 

 

 

 

 

17,372,066

 

Washington — 0.9%

 

 

 

 

 

 

 

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

 

 

1,860

 

 

1,937,132

 

Wisconsin — 1.9%

 

 

 

 

 

 

 

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

 

 

3,959

 

 

3,958,772

 

Total Municipal Bonds Transferred to
Tender Option Bond Trusts – 37.4%

 

 

 

 

 

79,258,559

 

Total Long-Term Investments
(Cost – $332,652,612) – 157.4%

 

 

 

 

 

333,393,221

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

FFI Institutional Tax-Exempt Fund,
0.16% (f)(g)

 

 

216,807

 

 

216,807

 

Total Short-Term Securities
(Cost – $216,807) – 0.1%

 

 

 

 

 

216,807

 

Total Investments
(Cost – $332,869,419*) – 157.5%

 

 

 

 

 

333,610,028

 

Other Assets Less Liabilities – 1.5%

 

 

 

 

 

3,178,351

 

Liability for Trust Certificates, Including Interest
Expense and Fees Payable – (19.5)%

 

 

 

 

 

(41,309,316

)

Preferred Shares, at Redemption Value – (39.5)%

 

 

 

 

 

(83,707,421

)

 

 

 

 

 

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

211,771,642

 

 

 

 

 

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of January 31, 2010, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

291,580,953

 

 

 

Gross unrealized appreciation

 

$

10,650,687

 

Gross unrealized depreciation

 

 

(9,910,078

)

 

 

Net unrealized appreciation

 

$

740,609

 

 

 

 

 

(a)

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.

 

 

 

6

BlackRock MuniHoldings Fund, Inc.

January 31, 2010


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniHoldings Fund, Inc. (MHD)

 

 

(b)

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

 

 

(c)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

 

(d)

Non-income producing security.

 

 

(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, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:

 

 

 

 

 

 

 

 

Affiliate

 

Net
Activity

 

Income

 

FFI Institutional Tax Exempt Fund

 

$

(1,693,530

)

$

11,193

 

 

 

 

(g)

Represents the current yield as of report date.

 

 

•

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 Fund’s most recent financial statements as contained in its semi-annual report.

 

 

 

The following table summarizes the inputs used as of January 31, 2010 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

Valuation Inputs

 

Investments in
Securities

 

 

 

Assets

 

 

 

Level 1 - Short-Term Securities

 

$

216,807

 

Level 2 - Long-Term Investments1

 

 

333,393,221

 

Level 3

 

 

—

 

 

 

Total

 

$

333,610,028

 

 

 

 

 

 

1See above Schedule of Investments for values in each state or political subdivision..

 

 

 

BlackRock MuniHoldings Fund, Inc.

January 31, 2010

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 13(a)-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/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer of
    BlackRock MuniHoldings Fund, Inc.
   
  Date: March 19, 2010
   
  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/ Anne F. Ackerley  
    Anne F. Ackerley
    Chief Executive Officer (principal executive officer) of
    BlackRock MuniHoldings Fund, Inc.
   
  Date: March 19, 2010
   
 

By:

 /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniHoldings Fund, Inc.
   
  Date: March 19, 2010