Schedule of Investments (unaudited) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Municipal Bonds |
| |||||||
Alabama — 1.2% | ||||||||
County of Jefferson Alabama Sewer Revenue, Refunding RB, Series D, Sub Lien, 6.00%, 10/01/42 | $ | 1,875 | $ | 2,177,850 | ||||
|
| |||||||
Arizona — 1.6% | ||||||||
Industrial Development Authority of the City of Phoenix, RB, Series A, 5.00%, 07/01/46(a) | 890 | 944,219 | ||||||
Maricopa County Industrial Development Authority, Refunding RB, Series A, 4.13%, 09/01/38 | 475 | 551,190 | ||||||
Salt Verde Financial Corp., RB, 5.00%, 12/01/37 | 1,010 | 1,467,944 | ||||||
|
| |||||||
2,963,353 | ||||||||
Arkansas — 0.8% | ||||||||
Arkansas Development Finance Authority, RB, AMT, 4.50 %, 09/01/49(a) | 1,370 | 1,509,644 | ||||||
|
| |||||||
California — 3.8% | ||||||||
California Health Facilities Financing Authority, Refunding RB, Series A, 5.00%, 07/01/33 | 445 | 494,555 | ||||||
California Municipal Finance Authority, RB, S/F Housing | ||||||||
Series A, 5.25%, 08/15/39 | 80 | 88,101 | ||||||
Series A, 5.25%, 08/15/49 | 195 | 209,430 | ||||||
California Municipal Finance Authority, Refunding RB, Series A, 5.00%, 02/01/42 | 120 | 139,553 | ||||||
California Pollution Control Financing Authority, RB, Series A, AMT, 5.00%, 11/21/45(a) | 730 | 779,815 | ||||||
California State Public Works Board, RB, Series I, 5.00%, 11/01/38 | 405 | 456,160 | ||||||
Department of Veterans Affairs Veteran’s Farm & Home Purchase Program RB, Series A, 2.45%, 12/01/45 | 850 | 869,678 | ||||||
Golden State Tobacco Securitization Corp., Refunding RB, Series A-2, 5.00%, 06/01/47 | 1,425 | 1,482,228 | ||||||
San Diego Unified School District, GO, CAB(b) | ||||||||
Series A, 0.00%, 07/01/29 | 2,235 | 2,053,920 | ||||||
Series A, 0.00%, 07/01/29(c) | 290 | 262,641 | ||||||
Stockton Public Financing Authority, RB, Series A, 6.25%, 10/01/23(d) | 185 | 215,107 | ||||||
|
| |||||||
7,051,188 | ||||||||
Colorado — 1.8% | ||||||||
City & County of Denver Colorado, RB, CAB, Series A-2, 0.00%, 08/01/37(b) | 1,490 | 887,429 | ||||||
Colorado Educational & Cultural Facilities Authority, RB, (St Hgr Ed Intercept Prog), 5.50%, 07/01/40 | 1,055 | 1,058,861 | ||||||
Colorado Health Facilities Authority, Refunding RB, Series A, 3.25%, 08/01/49 | 1,415 | 1,478,449 | ||||||
|
| |||||||
3,424,739 | ||||||||
Delaware — 0.9% | ||||||||
Delaware State Health Facilities Authority, RB, 5.00%, 06/01/48 | 1,395 | 1,645,584 | ||||||
|
| |||||||
District of Columbia — 4.2% | ||||||||
Metropolitan Washington Airports Authority | 10,170 | 7,689,232 | ||||||
|
| |||||||
Florida — 4.0% | ||||||||
City of Tampa Florida, RB, CAB(b) | ||||||||
Series A, 0.00%, 09/01/49 | 285 | 101,052 | ||||||
Series A, 0.00%, 09/01/53 | 300 | 88,422 |
Security | Par (000) | Value | ||||||
Florida (continued) | ||||||||
County of Broward Florida Port Facilities Revenue, ARB, Series B, AMT, 4.00%, 09/01/49 | $ | 1,070 | $ | 1,227,226 | ||||
County of Osceola Florida Transportation Revenue, Refunding RB, CAB(b) | ||||||||
Series A-2, 0.00%, 10/01/41 | 275 | 142,588 | ||||||
Series A-2, 0.00%, 10/01/42 | 370 | 184,708 | ||||||
Series A-2, 0.00%, 10/01/43 | 335 | 160,656 | ||||||
Series A-2, 0.00%, 10/01/44 | 345 | 159,328 | ||||||
Series A-2, 0.00%, 10/01/45 | 285 | 126,759 | ||||||
Escambia County Health Facilities Authority, Refunding RB, 4.00%, 08/15/45 | 1,725 | 1,994,807 | ||||||
Florida Housing Finance Corp., RB, S/F Housing, | 340 | 366,194 | ||||||
Mid-Bay Bridge Authority, RB, Series A, 7.25%, 10/01/21(d) | 1,525 | 1,597,315 | ||||||
Palm Beach County Health Facilities Authority, RB, Series B, 5.00%, 11/15/42 | 75 | 88,836 | ||||||
Village Community Development District No.10, SAB, 5.13%, 05/01/43 | 1,060 | 1,106,068 | ||||||
|
| |||||||
7,343,959 | ||||||||
Georgia — 4.6% | ||||||||
Gainesville & Hall County Hospital Authority, Refunding RB, Series A, (GTD), 5.50%, 08/15/54 | 270 | 321,019 | ||||||
Griffin-Spalding County Hospital Authority, RB, 4.00%, 04/01/42 | 2,310 | 2,606,835 | ||||||
Main Street Natural Gas, Inc., RB | ||||||||
Series A, 5.00%, 05/15/36 | 1,500 | 2,115,285 | ||||||
Series A, 5.00%, 05/15/38 | 790 | 1,138,651 | ||||||
Series A, 5.00%, 05/15/49 | 1,070 | 1,662,972 | ||||||
Municipal Electric Authority of Georgia, RB | ||||||||
4.00%, 01/01/49 | 260 | 297,258 | ||||||
5.00%, 01/01/56 | 350 | 422,478 | ||||||
|
| |||||||
8,564,498 | ||||||||
Idaho — 1.1% | ||||||||
Power County Industrial Development Corp., RB, AMT, 6.45%, 08/01/32 | 2,000 | 2,009,460 | ||||||
|
| |||||||
Illinois — 8.8% | ||||||||
Chicago Board of Education, GO | ||||||||
Series C, 5.25%, 12/01/35 | 805 | 900,401 | ||||||
Series D, 5.00%, 12/01/46 | 1,070 | 1,186,309 | ||||||
Series H, 5.00%, 12/01/46 | 240 | 279,770 | ||||||
Chicago Board of Education, Refunding GO | ||||||||
Series C, 5.00%, 12/01/25 | 360 | 426,661 | ||||||
Series C, 5.00%, 12/01/34 | 240 | 286,752 | ||||||
Series D, 5.00%, 12/01/25 | 435 | 515,549 | ||||||
Series F, 5.00%, 12/01/24 | 340 | 390,976 | ||||||
Chicago Transit Authority Sales Tax Receipts Fund, RB, 5.25%, 12/01/21(d) | 530 | 552,546 | ||||||
City of Chicago Illinois Special Assessment Revenue, SAB, 6.75%, 12/01/32 | 575 | 576,662 | ||||||
Cook County Community College District No.508, GO, 5.50%, 12/01/38 | 410 | 458,565 | ||||||
Illinois Finance Authority, Refunding RB, 4.00%, 03/01/35 | 1,290 | 1,460,383 | ||||||
Metropolitan Pier & Exposition Authority, RB, Series A, 5.00%, 06/15/57 | 365 | 425,732 | ||||||
Metropolitan Pier & Exposition Authority, Refunding RB, 4.00%, 06/15/50 | 280 | 309,582 |
S C H E D U L E O F I N V E S T M E N T S | 1 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Illinois (continued) | ||||||||
Metropolitan Pier & Exposition Authority, Refunding RB, CAB, Series B, (AGM), 0.00%, 06/15/47(b) | $ | 9,555 | $ | 4,226,177 | ||||
Railsplitter Tobacco Settlement Authority, RB(d) | ||||||||
5.50%, 06/01/21 | 230 | 234,094 | ||||||
6.00%, 06/01/21 | 500 | 509,800 | ||||||
State of Illinois, GO | ||||||||
5.00%, 02/01/39 | 810 | 893,422 | ||||||
Series A, 5.00%, 04/01/38 | 1,920 | 2,071,046 | ||||||
University of Illinois, RB, Series A, 5.00%, 04/01/44 | 520 | 587,226 | ||||||
|
| |||||||
16,291,653 | ||||||||
Indiana — 2.8% | ||||||||
City of Valparaiso Indiana, RB | ||||||||
AMT, 6.75%, 01/01/34 | 415 | 455,500 | ||||||
AMT, 7.00%, 01/01/44 | 1,000 | 1,092,020 | ||||||
Indiana Finance Authority, RB | ||||||||
Series A, 1st Lien, 5.25%, 10/01/38 | 1,660 | 1,713,801 | ||||||
Series A, AMT, 5.00%, 07/01/44 | 225 | 241,652 | ||||||
Series A, AMT, 5.00%, 07/01/48 | 740 | 794,627 | ||||||
Series A, AMT, 5.25%, 01/01/51 | 210 | 226,609 | ||||||
Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40 | 640 | 697,683 | ||||||
|
| |||||||
5,221,892 | ||||||||
Iowa — 1.8% | ||||||||
Iowa Finance Authority, Refunding RB | ||||||||
5.25%, 12/01/25 | 940 | 1,055,093 | ||||||
5.88%, 12/01/26 | 210 | 217,136 | ||||||
Series B, 5.25%, 12/01/50(e) | 240 | 268,877 | ||||||
Iowa Student Loan Liquidity Corp., Refunding RB, Series B, AMT, 3.00%, 12/01/39 | 1,715 | 1,766,793 | ||||||
|
| |||||||
3,307,899 | ||||||||
Kansas — 0.4% | ||||||||
Kansas City Industrial Development Authority, ARB, AMT, (AGM), 4.00%, 03/01/57 | 615 | 703,535 | ||||||
|
| |||||||
Kentucky — 0.7% | ||||||||
Kentucky Economic Development Finance Authority, RB, Series A, 5.25%, 01/01/23(d) | 525 | 575,978 | ||||||
Kentucky Public Transportation Infrastructure Authority, RB, CAB, Series C, Convertible, 6.75%, 07/01/43(f) | 635 | 749,681 | ||||||
|
| |||||||
1,325,659 | ||||||||
Louisiana — 2.3% | ||||||||
Louisiana Public Facilities Authority, Refunding RB, 5.00%, 05/15/47 | 1,635 | 1,928,254 | ||||||
Tobacco Settlement Financing Corp., Refunding RB | ||||||||
Series A, 5.50%, 05/15/30 | 405 | 405,826 | ||||||
Series A, 5.25%, 05/15/31 | 435 | 440,077 | ||||||
Series A, 5.25%, 05/15/32 | 555 | 583,893 | ||||||
Series A, 5.25%, 05/15/33 | 600 | 631,206 | ||||||
Series A, 5.25%, 05/15/35 | 255 | 278,136 | ||||||
|
| |||||||
4,267,392 | ||||||||
Maine — 0.2% | ||||||||
Maine State Housing Authority, RB, S/F Housing, Series C, 3.95%, 11/15/43 | 335 | 375,927 | ||||||
|
|
Security | Par (000) | Value | ||||||
Maryland — 1.1% | ||||||||
Maryland Health & Higher Educational Facilities Authority, RB, Series A, 5.00%, 05/15/42 | $ | 1,760 | $ | 2,130,691 | ||||
|
| |||||||
Massachusetts — 3.9% | ||||||||
Massachusetts Development Finance Agency, Refunding RB | ||||||||
4.00%, 07/01/39 | 1,140 | 1,227,598 | ||||||
Series A, 4.00%, 06/01/49 | 150 | 170,886 | ||||||
Series P, 5.45%, 05/15/59 | 845 | 1,111,623 | ||||||
Massachusetts Educational Financing Authority, RB Series B, AMT, 2.63%, 07/01/36 | 475 | 498,698 | ||||||
AMT, Subordinate, 3.75%, 07/01/47 | 1,865 | 1,886,186 | ||||||
Massachusetts Educational Financing Authority, Refunding RB | ||||||||
Series A, AMT, 3.63%, 07/01/32 | 1,250 | 1,288,025 | ||||||
Series B, AMT, 3.63%, 07/01/34 | 815 | 841,756 | ||||||
Massachusetts Housing Finance Agency RB, Series D-1, 2.55%, 12/01/50 | 265 | 268,721 | ||||||
|
| |||||||
7,293,493 | ||||||||
Michigan — 3.8% | ||||||||
City of Detroit Michigan Sewage Disposal System Revenue, Refunding RB, Series A, Senior Lien, 5.25%, 07/01/22(d) | 2,235 | 2,396,859 | ||||||
Eastern Michigan University, RB, Series A, 4.00%, 03/01/47 | 1,170 | 1,320,626 | ||||||
Michigan Finance Authority, RB, Series C-1, Senior Lien, 5.00%, 07/01/22(d) | 455 | 486,345 | ||||||
Michigan Finance Authority, Refunding RB, 4.00%, 11/15/46 | 570 | 632,124 | ||||||
Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.15%, 10/01/53 | 940 | 1,027,599 | ||||||
Michigan State Housing Development Authority, RB, S/F Housing | ||||||||
Series A, 4.00%, 06/01/49 | 265 | 294,465 | ||||||
Series C, 4.13%, 12/01/38 | 185 | 194,174 | ||||||
Michigan Strategic Fund, RB, AMT, 5.00%, 06/30/48 | 490 | 590,656 | ||||||
|
| |||||||
6,942,848 | ||||||||
Missouri — 0.1% | ||||||||
Health & Educational Facilities Authority of the State of Missouri, Refunding RB, 5.50%, 05/01/43 | 130 | 137,937 | ||||||
|
| |||||||
New Hampshire — 1.1% | ||||||||
New Hampshire Business Finance Authority, Refunding RB(a) | ||||||||
Series B, 4.63%, 11/01/42 | 735 | 770,052 | ||||||
Series C, AMT, 4.88%, 11/01/42 | 420 | 442,516 | ||||||
New Hampshire Housing Finance Authority, RB, M/F Housing, (FHA), 4.00%, 07/01/52 | 800 | 873,672 | ||||||
|
| |||||||
2,086,240 | ||||||||
New Jersey — 10.8% | ||||||||
Casino Reinvestment Development Authority, Inc., Refunding RB | ||||||||
5.25%, 11/01/39 | 530 | 568,637 | ||||||
5.25%, 11/01/44 | 790 | 843,491 | ||||||
New Jersey Economic Development Authority, RB | ||||||||
Series B, 4.50%, 06/15/40 | 1,270 | 1,497,736 | ||||||
Series WW, 5.00%, 06/15/36 | 210 | 242,613 |
2 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
New Jersey (continued) | ||||||||
New Jersey Economic Development Authority, | $ | 805 | $ | 851,827 | ||||
New Jersey Economic Development Authority, Refunding SAB, 5.75%, 04/01/31 | 1,125 | 1,187,055 | ||||||
New Jersey Educational Facilities Authority, Refunding RB, Series A, 5.00%, 07/01/42 | 1,450 | 1,704,214 | ||||||
New Jersey Higher Education Student Assistance Authority, RB, Series B, AMT, 3.50%, 12/01/39 | 680 | 724,458 | ||||||
New Jersey Transportation Trust Fund Authority, RB | 1,025 | 1,045,305 | ||||||
Series AA, 4.13%, 06/15/39 | 1,040 | 1,203,810 | ||||||
Series AA, 5.00%, 06/15/44 | 940 | 1,039,607 | ||||||
Series AA, 5.00%, 06/15/45 | 425 | 532,347 | ||||||
Series AA, 3.00%, 06/15/50 | 130 | 135,066 | ||||||
New Jersey Transportation Trust Fund Authority, RB, CAB, Series B, 5.25%, 06/15/36 | 1,235 | 1,257,638 | ||||||
New Jersey Transportation Trust Fund Authority, Refunding RB | 510 | 588,061 | ||||||
Series A, 5.00%, 12/15/36 | 580 | 714,664 | ||||||
New Jersey Turnpike Authority, RB | 320 | 384,650 | ||||||
Series E, 5.00%, 01/01/45 | 715 | 829,414 | ||||||
South Jersey Transportation Authority, RB, | 275 | 318,799 | ||||||
Tobacco Settlement Financing Corp., Refunding RB Series A, 4.00%, 06/01/37 | 500 | 579,535 | ||||||
Sub-Series B, 5.00%, 06/01/46 | 3,105 | 3,696,161 | ||||||
|
| |||||||
19,945,088 | ||||||||
New York — 9.5% | ||||||||
Erie Tobacco Asset Securitization Corp., Refunding RB, Series A, 5.00%, 06/01/45 | 1,020 | 1,029,231 | ||||||
Metropolitan Transportation Authority, RB, Series B, 5.25%, 11/15/38 | 1,255 | 1,412,628 | ||||||
Metropolitan Transportation Authority, Refunding RB, Series C-1, 5.00%, 11/15/56 | 2,350 | 2,700,197 | ||||||
New York City Housing Development Corp. RB (FHA 542 (C)), 2.70%, 11/01/55 | 950 | 964,848 | ||||||
Series I-1, (FHA), 2.55%, 11/01/45 | 1,200 | 1,225,560 | ||||||
New York City Housing Development Corp., RB, M/F Housing, Series A, 3.00%, 11/01/55 | 740 | 766,758 | ||||||
New York City Transitional Finance Authority Future Tax Secured Revenue, RB | 835 | 996,205 | ||||||
Sub-Series E-1, 5.00%, 02/01/42 | 740 | 775,061 | ||||||
New York Counties Tobacco Trust IV, Refunding RB, Series A, 6.25%, 06/01/41(a) | 1,000 | 1,016,160 | ||||||
New York Liberty Development Corp., Refunding RB(a) | 1,495 | 1,622,374 | ||||||
Series 2, Class 2, 5.15%, 11/15/34 | 175 | 191,963 | ||||||
Series 2, Class 2, 5.38%, 11/15/40 | 440 | 484,088 | ||||||
New York Power Authority, Refunding RB, | 210 | 247,836 | ||||||
New York State Housing Finance Agency RB, Series L-1, (SONYMA), 2.50%, 11/01/45 | 1,605 | 1,639,700 |
Security | Par (000) | Value | ||||||
New York (continued) | ||||||||
New York State Thruway Authority, Refunding RB, Series B, Subordinate, 3.00%, 01/01/46 | $ | 900 | $ | 955,233 | ||||
Port Authority of New York & New Jersey Refunding RB, AMT, 4.00%, 07/15/41(g) | 1,075 | 1,279,648 | ||||||
Westchester County Healthcare Corp., RB, Series A, Senior Lien, 5.00%, 11/01/44 | 247 | 272,362 | ||||||
|
| |||||||
17,579,852 | ||||||||
North Carolina — 0.4% | ||||||||
North Carolina Medical Care Commission, RB, 4.00%, 11/01/52 | 400 | 467,124 | ||||||
North Carolina Medical Care Commission, Refunding RB, Series A, 7.75%, 03/01/21(d) | 305 | 306,854 | ||||||
|
| |||||||
773,978 | ||||||||
Ohio — 3.6% | ||||||||
Buckeye Tobacco Settlement Financing Authority, Refunding RB, Series B-2, Class 2, 5.00%, 06/01/55 | 2,065 | 2,407,026 | ||||||
County of Franklin Ohio, RB | ||||||||
Series A, 6.13%, 07/01/22(d) | 20 | 21,706 | ||||||
Series A, 6.13%, 07/01/40 | 330 | 352,156 | ||||||
County of Montgomery Ohio, Refunding RB, 4.00%, 11/15/42 | 655 | 728,609 | ||||||
Montgomery County Refunding RB, | 810 | 949,263 | ||||||
Ohio Air Quality Development Authority, RB, AMT, 5.00%, 07/01/49(a) | 405 | 453,794 | ||||||
Ohio Housing Finance Agency, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 4.00%, 09/01/48 | 110 | 120,001 | ||||||
State of Ohio, RB, AMT, 5.00%, 06/30/53 | 420 | 469,426 | ||||||
State of Ohio, Refunding RB, Series A, 4.00%, 01/15/50 | 945 | 1,104,724 | ||||||
|
| |||||||
6,606,705 | ||||||||
Oklahoma — 0.6% | ||||||||
Oklahoma Development Finance Authority, RB, Series B, 5.50%, 08/15/57 | 625 | 743,719 | ||||||
Oklahoma Turnpike Authority, RB, Series A, 4.00%, 01/01/48 | 280 | 319,152 | ||||||
|
| |||||||
1,062,871 | ||||||||
Oregon — 0.8% | ||||||||
Salem-Keizer School District No.24J, GO, CAB, Series A, (GTD), 0.00%, 06/15/40(b) | 1,980 | 1,265,240 | ||||||
State of Oregon Housing & Community Services Department, RB, S/F Housing, Series C, 3.95%, 07/01/43 | 180 | 202,041 | ||||||
|
| |||||||
1,467,281 | ||||||||
Pennsylvania — 5.3% | ||||||||
Bucks County Industrial Development Authority, RB, 4.00%, 08/15/50 | 1,305 | 1,467,316 | ||||||
Hospitals & Higher Education Facilities Authority of Philadelphia, RB, Series A, 5.63%, 07/01/42 | 335 | 348,068 | ||||||
Montgomery County Higher Education and Health Authority, Refunding RB, Series A, 4.00%, 09/01/49 | 470 | 519,167 | ||||||
Pennsylvania Economic Development Financing Authority, RB | 470 | 548,880 | ||||||
AMT, 5.00%, 12/31/38 | 390 | 453,437 | ||||||
AMT, 5.00%, 06/30/42 | 440 | 506,396 | ||||||
Pennsylvania Economic Development Financing Authority, Refunding RB, AMT, 5.50%, 11/01/44 | 800 | 850,168 |
S C H E D U L E O F I N V E S T M E N T S | 3 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Pennsylvania (continued) | ||||||||
Pennsylvania Higher Education Assistance Agency, RB, Series B, AMT, Subordinate, 3.00%, 06/01/47 | $ | 100 | $ | 98,879 | ||||
Pennsylvania Housing Finance Agency, RB, S/F Housing, Series 128B, 3.85%, 04/01/38 | 965 | 1,075,830 | ||||||
Pennsylvania Housing Finance Agency, Refunding RB, S/F Housing, Series 119, 3.50%, 10/01/36 | 1,250 | 1,347,413 | ||||||
Pennsylvania Turnpike Commission RB, 4.00%, 12/01/50 | 610 | 713,792 | ||||||
Pennsylvania Turnpike Commission, RB | 585 | 683,227 | ||||||
Series A, Subordinate, 4.00%, 12/01/49 | 1,075 | 1,240,679 | ||||||
|
| |||||||
9,853,252 | ||||||||
Puerto Rico — 5.8% | ||||||||
Children’s Trust Fund, Refunding RB | ||||||||
5.50%, 05/15/39 | 325 | 333,505 | ||||||
5.63%, 05/15/43 | 355 | 359,313 | ||||||
Puerto Rico Commonwealth Aqueduct & Sewer Authority, RB | 1,355 | 1,428,075 | ||||||
Series A, Senior Lien, 5.13%, 07/01/37 | 385 | 407,342 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB | 865 | 968,099 | ||||||
Series A-1, Restructured, 5.00%, 07/01/58 | 3,838 | 4,358,663 | ||||||
Series A-2, Restructured, 4.33%, 07/01/40 | 565 | 624,534 | ||||||
Series A-2, Restructured, 4.78%, 07/01/58 | 925 | 1,036,611 | ||||||
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured, 0.00%, 07/01/46(b) | 3,780 | 1,195,425 | ||||||
|
| |||||||
10,711,567 | ||||||||
Rhode Island — 2.7% | ||||||||
Rhode Island Student Loan Authority, RB, Series A, AMT, 3.63%, 12/01/37 | 945 | 1,009,307 | ||||||
Tobacco Settlement Financing Corp., Refunding RB Series A, 5.00%, 06/01/35 | 420 | 487,813 | ||||||
Series B, 4.50%, 06/01/45 | 1,375 | 1,461,240 | ||||||
Series B, 5.00%, 06/01/50 | 1,895 | 2,048,912 | ||||||
|
| |||||||
5,007,272 | ||||||||
South Carolina — 4.5% | ||||||||
South Carolina Jobs-Economic Development Authority, RB | 100 | 111,394 | ||||||
4.00%, 04/01/49 | 100 | 104,896 | ||||||
5.00%, 04/01/49 | 135 | 149,961 | ||||||
4.00%, 04/01/54 | 105 | 110,112 | ||||||
5.00%, 04/01/54 | 245 | 272,104 | ||||||
South Carolina Jobs-Economic Development Authority, Refunding RB, Series A, 4.25%, 05/01/48 | 1,445 | 1,626,073 | ||||||
South Carolina Ports Authority, ARB | 555 | 672,100 | ||||||
AMT, 5.00%, 07/01/55 | 710 | 863,921 | ||||||
South Carolina Public Service Authority, RB, | 2,040 | 2,369,276 | ||||||
South Carolina Public Service Authority, Refunding RB, Series E, 5.25%, 12/01/55 | 1,635 | 1,963,292 | ||||||
|
| |||||||
8,243,129 |
Security | Par (000) | Value | ||||||
Tennessee — 0.9% | ||||||||
Chattanooga Health Educational & Housing Facility Board, RB, Series A, 5.25%, 01/01/23(d) | $ | 720 | $ | 789,977 | ||||
Greeneville Health & Educational Facilities Board, Refunding RB, Series A, 4.00%, 07/01/40 | 375 | 422,655 | ||||||
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, RB, Series A, 5.00%, 07/01/40 | 360 | 421,088 | ||||||
|
| |||||||
1,633,720 | ||||||||
Texas — 4.5% | ||||||||
Brazos Higher Education Authority, Inc., RB, | 65 | 62,559 | ||||||
Central Texas Regional Mobility Authority, Refunding RB, Sub Lien, 5.00%, 01/01/23(d) | 180 | 196,675 | ||||||
City of Houston Texas Airport System Revenue, Refunding RB, Sub-Series A, AMT, 4.00%, 07/01/47 | 690 | 788,642 | ||||||
Harris County Cultural Education Facilities Finance Corp., RB, Series B, 7.00%, 01/01/23(d) | 240 | 271,210 | ||||||
Midland County Fresh Water Supply District No.1, RB, CAB(b) | 2,525 | 1,176,574 | ||||||
Series A, 0.00%, 09/15/41 | 1,395 | 616,478 | ||||||
New Hope Cultural Education Facilities Finance Corp., RB, Series A, 5.00%, 04/01/25(d) | 145 | 173,548 | ||||||
North Texas Tollway Authority, RB, CAB, Series B, 0.00%, 09/01/31(b)(d) | 1,015 | 557,154 | ||||||
North Texas Tollway Authority, Refunding RB, 4.25%, 01/01/49 | 610 | 709,296 | ||||||
Texas Department of Housing & Community Affairs, RB, S/F Housing, Series A, (GNMA), 4.25%, 09/01/43 | 195 | 213,839 | ||||||
Texas Municipal Gas Acquisition & Supply Corp. III Refunding RB, 5.00%, 12/15/32(g) | 1,070 | 1,470,073 | ||||||
Texas Private Activity Bond Surface Transportation Corp., RB, AMT, 5.00%, 06/30/58 | 710 | 860,265 | ||||||
Texas Transportation Commission, RB, CAB(b) 0.00%, 08/01/35 | 270 | 166,868 | ||||||
0.00%, 08/01/36 | 145 | 84,993 | ||||||
0.00%, 08/01/37 | 195 | 108,176 | ||||||
0.00%, 08/01/38 | 200 | 105,120 | ||||||
0.00%, 08/01/44 | 870 | 329,347 | ||||||
0.00%, 08/01/45 | 1,135 | 407,567 | ||||||
|
| |||||||
8,298,384 | ||||||||
Utah — 0.1% | ||||||||
Utah Charter School Finance Authority, Refunding RB, 5.00%, 06/15/55(a) | 190 | 199,859 | ||||||
|
| |||||||
Virginia — 1.9% | ||||||||
Virginia Housing Development Authority, RB, M/F Housing, Series D, 3.90%, 10/01/48 | 1,430 | 1,590,675 | ||||||
Virginia Small Business Financing Authority, RB | 400 | 426,724 | ||||||
AMT, Senior Lien, 6.00%, 01/01/37 | 1,345 | 1,447,838 | ||||||
|
| |||||||
3,465,237 | ||||||||
Washington — 1.4% | ||||||||
King County Housing Authority, Refunding RB, 3.00%, 06/01/40 | 440 | 473,326 | ||||||
Port of Seattle Washington, ARB, Series C, AMT, 5.00%, 04/01/40 | 390 | 448,387 |
4 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) (Percentages shown are based on Net Assets) |
Security | Par (000) | Value | ||||||
Washington (continued) | ||||||||
Washington Health Care Facilities Authority, RB, Series A, 5.75%, 01/01/23(d) | $ | 1,195 | $ | 1,323,104 | ||||
Washington Health Care Facilities Authority, Refunding RB, 5.00%, 09/01/55 | 285 | 362,691 | ||||||
|
| |||||||
2,607,508 | ||||||||
West Virginia — 1.0% | ||||||||
West Virginia Hospital Finance Authority, RB, Series A, 4.00%, 06/01/51 | 1,605 | 1,801,179 | ||||||
|
| |||||||
Wisconsin — 1.8% | ||||||||
Public Finance Authority, Refunding RB, | 2,000 | 2,250,660 | ||||||
Wisconsin Housing & Economic Development Authority, RB, M/F Housing | ||||||||
Series A, 3.15%, 11/01/44 | 480 | 512,222 | ||||||
Series A, 4.45%, 05/01/57 | 575 | 639,797 | ||||||
|
| |||||||
3,402,679 | ||||||||
|
| |||||||
Total Municipal Bonds — 106.6% | 197,124,234 | |||||||
|
| |||||||
Municipal Bonds Transferred to Tender Option Bond Trusts(h) |
| |||||||
Arizona — 0.6% | ||||||||
Maricopa County Industrial Development Authority, RB, Series A, 4.00%, 01/01/41 | 915 | 1,057,099 | ||||||
|
| |||||||
California �� 2.1% | ||||||||
Bay Area Toll Authority, Refunding RB, | 1,638 | 1,905,961 | ||||||
Sacramento Area Flood Control Agency, Refunding SAB, 5.00%, 10/01/47 | 1,635 | 1,991,345 | ||||||
|
| |||||||
3,897,306 | ||||||||
Colorado — 1.2% | ||||||||
County of Adams Colorado, Refunding COP, 4.00%, 12/01/45 | 1,950 | 2,184,429 | ||||||
|
| |||||||
District of Columbia — 0.3% | ||||||||
District of Columbia Housing Finance Agency, RB, M/F Housing, Series B-2, (FHA), 4.10%, 09/01/39 | 510 | 579,023 | ||||||
|
| |||||||
Florida — 5.7% | ||||||||
City Of South Miami Health Facilities Authority, Inc., Refunding RB, 5.00%, 08/15/47 | 1,290 | 1,576,173 | ||||||
City of Tampa Florida, RB, Series A, 4.00%, 11/15/46 | 1,932 | 2,166,263 | ||||||
County of Broward Florida Port Facilities Revenue, ARB, Series B, AMT, 4.00%, 09/01/49 | 2,350 | 2,695,309 | ||||||
Greater Orlando Aviation Authority, ARB, | 3,543 | 4,075,436 | ||||||
|
| |||||||
10,513,181 | ||||||||
Georgia — 0.6% | ||||||||
Georgia Housing & Finance Authority, Refunding RB, Series A, 3.70%, 06/01/49 | 1,061 | 1,182,020 | ||||||
|
| |||||||
Illinois — 0.6% | ||||||||
Illinois Finance Authority, Refunding RB | ||||||||
Series C, 4.00%, 02/15/27(d) | 2 | 2,837 | ||||||
Series C, 4.00%, 02/15/41 | 1,002 | 1,130,931 | ||||||
|
| |||||||
1,133,768 |
Security | Par (000) | Value | ||||||
Louisiana — 0.8% | ||||||||
State of Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, Series A, 1st Lien, 4.00%, 05/01/41 | $ | 1,245 | $ | 1,404,572 | ||||
|
| |||||||
Maryland — 4.1% | ||||||||
City of Baltimore Maryland, RB | ||||||||
Series A, 5.00%, 07/01/46 | 1,515 | 1,828,212 | ||||||
Series A, 4.00%, 07/01/49 | 3,123 | 3,701,232 | ||||||
Maryland Stadium Authority, RB, (ST INTERCEPT), 5.00%, 05/01/42 | 1,740 | 2,095,534 | ||||||
|
| |||||||
7,624,978 | ||||||||
Massachusetts — 3.8% | ||||||||
Commonwealth of Massachusetts, GO, Series A, 5.00%, 01/01/46 | 1,982 | 2,493,373 | ||||||
Massachusetts Housing Finance Agency, RB, | 1,111 | 1,158,044 | ||||||
Massachusetts School Building Authority, RB, | 3,211 | 3,321,653 | ||||||
|
| |||||||
6,973,070 | ||||||||
Michigan — 2.5% | ||||||||
Michigan Finance Authority, RB, 4.00%, 02/15/47 | 1,724 | 1,984,741 | ||||||
Michigan State Housing Development Authority, RB, M/F Housing, Series A, 4.05%, 10/01/48 | 2,337 | 2,588,978 | ||||||
|
| |||||||
4,573,719 | ||||||||
Nebraska — 0.3% | ||||||||
Nebraska Investment Finance Authority, RB, S/F Housing, Series A, (FHLMC, FNMA, GNMA), 3.70%, 03/01/47 | 553 | 635,831 | ||||||
|
| |||||||
Nevada — 1.5% | ||||||||
County of Clark Nevada, GO, Series A, | 2,260 | 2,810,317 | ||||||
|
| |||||||
New York — 7.9% | ||||||||
Hudson Yards Infrastructure Corp., RB(i) | ||||||||
5.75%, 02/15/21(d) | 188 | 188,233 | ||||||
5.75%, 02/15/47 | 115 | 115,795 | ||||||
New York City Housing Development Corp., Refunding RB, Series A, 4.15%, 11/01/38 | 1,080 | 1,217,970 | ||||||
New York City Transitional Finance Authority Building Aid Revenue, RB, Series S-1, (SAW), 4.00%, 07/15/42(i) | 1,395 | 1,467,819 | ||||||
New York Liberty Development Corp., ARB, 5.25%, 12/15/43 | 5,400 | 5,633,608 | ||||||
New York Liberty Development Corp., Refunding RB, 5.75%, 11/15/51(i) | 3,250 | 3,381,581 | ||||||
Port Authority of New York & New Jersey, ARB, Series 221, AMT, 4.00%, 07/15/60 | 854 | 974,088 | ||||||
Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 | 1,350 | 1,612,372 | ||||||
|
| |||||||
14,591,466 | ||||||||
North Carolina — 0.9% | ||||||||
North Carolina Capital Facilities Finance Agency, Refunding RB, Series B, 5.00%, 10/01/25(d) | 1,320 | 1,603,589 | ||||||
|
| |||||||
Pennsylvania — 1.8% | ||||||||
Commonwealth of Pennsylvania, GO, 1st Series, 4.00%, 03/01/36(i) | 1,559 | 1,842,078 | ||||||
Pennsylvania Turnpike Commission, RB, | 1,230 | 1,531,766 | ||||||
|
| |||||||
3,373,844 |
S C H E D U L E O F I N V E S T M E N T S | 5 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) (Percentages shown are based on Net Assets) |
Security |
Par | Value | ||||||
Rhode Island — 0.8% | ||||||||
Rhode Island Housing and Mortgage Finance Corp., Refunding RB, S/F Housing, Series 69-B, (FHLMC, FNMA, GNMA), 3.55%, 10/01/33 | $ | 1,280 | $ | 1,420,288 | ||||
|
| |||||||
South Carolina — 1.0% | ||||||||
South Carolina Ports Authority, ARB, Series B, AMT, 4.00%, 07/01/49(i) | 1,665 | 1,915,582 | ||||||
|
| |||||||
Texas — 9.3% | ||||||||
Board of Regents of the University of Texas System, Refunding RB, Series B, 5.00%, 08/15/43 | 1,801 | 1,930,450 | ||||||
City of San Antonio Texas Electric & Gas Systems Revenue, RB, Junior Lien, 5.00%, 02/01/23(d) | 1,260 | 1,381,729 | ||||||
County of Hidalgo Texas, GO, Series A, 4.00%, 08/15/43 | 2,297 | 2,675,915 | ||||||
Harris County Toll Road Authority, Refunding RB, Series A, Senior Lien, 5.00%, 08/15/43 | 1,859 | 2,341,323 | ||||||
Houston Community College System, GO, 4.00%, 02/15/23(d) | 1,395 | 1,504,019 | ||||||
Howe Independent School District, GO, (PSF-GTD), 4.00%, 08/15/43 | 1,095 | 1,269,543 | ||||||
Metropolitan Transit Authority of Harris County Sales & Use Tax Revenue, Refunding RB, Series A, 5.00%, 11/01/21(d) | 1,710 | 1,772,364 | ||||||
San Antonio Public Facilities Corp., Refunding RB, 4.00%, 09/15/42 | 1,499 | 1,576,268 | ||||||
Texas Department of Housing & Community Affairs, RB, S/F Housing | ||||||||
Series A, (GNMA), 3.63%, 09/01/44 | 437 | 479,261 | ||||||
Series A, (GNMA), 3.00%, 09/01/45 | 625 | 665,012 | ||||||
Series A, (GNMA), 3.75%, 09/01/49 | 239 | 262,757 | ||||||
Series A, (GNMA), 3.00%, 03/01/50 | 1,185 | 1,260,047 | ||||||
|
| |||||||
17,118,688 | ||||||||
Washington — 0.9% | ||||||||
Washington Health Care Facilities Authority, Refunding RB, Series B, 4.13%, 08/15/43 | 1,445 | 1,623,505 | ||||||
|
| |||||||
Wisconsin — 0.8% | ||||||||
Wisconsin Housing & Economic Development Authority, RB, M/F Housing, Series A, 4.30%, 11/01/53 | 1,395 | 1,548,366 | ||||||
|
| |||||||
Total Municipal Bonds Transferred to Tender Option Bond Trusts — 47.5% |
| 87,764,641 | ||||||
|
| |||||||
Total Long-Term Investments — 154.1% |
| 284,888,875 | ||||||
|
|
Security |
Shares | Value | ||||||
Short-Term Securities | ||||||||
Money Market Funds — 3.6% | ||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(j)(k) | 6,706,906 | $ | 6,708,247 | |||||
|
| |||||||
Total Short-Term Securities — 3.6% |
| 6,708,247 | ||||||
|
| |||||||
Total Investments — 157.7% |
| 291,597,122 | ||||||
Liabilities in Excess of Other Assets — (1.3)% |
| (2,218,531 | ) | |||||
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (26.7)% |
| (49,429,502 | ) | |||||
VMTP Shares at Liquidation Value — (29.7)% |
| (55,000,000 | ) | |||||
|
| |||||||
Net Assets Applicable to Common Shares — 100.0% |
| $ | 184,949,089 | |||||
|
|
(a) | Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. |
(b) | Zero-coupon bond. |
(c) | Security is collateralized by municipal bonds or U.S. Treasury obligations. |
(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) | 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. |
(f) | Step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate as of period end. |
(g) | When-issued security. |
(h) | Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing. |
(i) | All or a portion of the security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between May 15, 2021 to February 15, 2047, is $8,763,177. |
(j) | Affiliate of the Fund. |
(k) | Annualized 7-day yield as of period end. |
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
Affiliated Issuer | Value at 04/30/20 | Purchases at Cost | Proceeds from Sales | Net Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value at 01/31/21 | Shares Held at 01/31/21 | Income | Capital Gain Distributions from Underlying Funds | |||||||||||||||||||||||||||
BlackRock Liquidity Funds, MuniCash, Institutional Class | $ | 1,196,701 | $ | 5,511,628 | (a) | $ | — | $ | (157 | ) | $ | 75 | $ | 6,708,247 | 6,706,906 | $ | 192 | $ | — | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
(a) | Represents net amount purchased (sold). |
6 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) |
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 | 23 | 03/22/21 | $ | 3,152 | $ | 8,375 | ||||||||||
Long U.S. Treasury Bond | 13 | 03/22/21 | 2,193 | 36,797 | ||||||||||||
|
| |||||||||||||||
$ | 45,172 | |||||||||||||||
|
|
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
• | Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access; |
• | Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and |
• | Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments). |
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy. The breakdown of the Fund’s investments into major categories is disclosed in the Schedule of Investments above.
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets | ||||||||||||||||
Investments | ||||||||||||||||
Long-Term Investments | ||||||||||||||||
Municipal Bonds | $ | — | $ | 197,124,234 | $ | — | $ | 197,124,234 | ||||||||
Municipal Bonds Transferred to Tender Option Bond Trusts | — | 87,764,641 | — | 87,764,641 | ||||||||||||
Short-Term Securities | ||||||||||||||||
Money Market Funds | 6,708,247 | — | — | 6,708,247 | ||||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | 6,708,247 | $ | 284,888,875 | $ | — | $ | 291,597,122 | |||||||||
|
|
|
|
|
|
|
| |||||||||
Derivative Financial Instruments(a) | ||||||||||||||||
Assets | ||||||||||||||||
Interest Rate Contracts | $ | 45,172 | $ | — | $ | — | $ | 45,172 | ||||||||
|
|
|
|
|
|
|
|
(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 disclosure hierarchy as follows:
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Liabilities |
| |||||||||||||||
TOB Trust Certificates | $ | — | $ | (49,409,143 | ) | $ | — | $ | (49,409,143 | ) | ||||||
VMTP Shares at Liquidation Value | — | (55,000,000 | ) | — | (55,000,000 | ) | ||||||||||
|
|
|
|
|
|
|
| |||||||||
$ | — | $ | (104,409,143 | ) | $ | — | $ | (104,409,143 | ) | |||||||
|
|
|
|
|
|
|
|
S C H E D U L E O F I N V E S T M E N T S | 7 |
Schedule of Investments (unaudited) (continued) January 31, 2021 | BlackRock MuniHoldings Fund II, Inc. (MUH) |
Portfolio Abbreviation | ||
AGC | Assured Guaranty Corp. | |
AGM | Assured Guaranty Municipal Corp. | |
AMT | Alternative Minimum Tax | |
ARB | Airport Revenue Bonds | |
CAB | Capital Appreciation Bonds | |
COP | Certificates of Participation | |
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 | |
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 |
8 |