October 31, 2024 
2024 Quarterly Report
(Unaudited)
 
BlackRock MuniHoldings Fund, Inc. (MHD)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)

 
Security
 
Par
(000)
Value
Municipal Bonds
Alabama — 4.9%
Black Belt Energy Gas District, RB(a)
 
Series A, 5.25%, 01/01/54
$
2,450
$ 2,615,195
Series A, 5.25%, 05/01/55
 
1,275
1,380,572
Series F, 5.50%, 11/01/53
 
1,115
1,182,526
Black Belt Energy Gas District, Refunding RB, 4.00%,
06/01/51(a)
 
9,590
9,683,095
County of Jefferson Alabama Sewer Revenue,
Refunding RB, 5.50%, 10/01/53
 
4,715
5,103,873
Energy Southeast A Cooperative District, RB, Series B,
5.25%, 07/01/54(a)
 
2,825
3,044,401
Southeast Energy Authority A Cooperative District, RB(a)
 
Series A-1, 5.50%, 01/01/53
 
1,890
2,023,555
Series B, 5.00%, 01/01/54
 
4,595
4,864,077
Series B-1, 5.00%, 05/01/53
 
4,510
4,703,879
 
 
34,601,173
Arizona — 2.5%
Arizona Industrial Development Authority, RB(b)
 
4.38%, 07/01/39
 
575
527,986
Series A, 5.00%, 07/01/49
 
550
516,364
Series A, 5.00%, 07/01/54
 
425
394,012
Arizona Industrial Development Authority, Refunding
RB(b)
 
Series A, 5.50%, 07/01/52
 
130
127,343
Series G, 5.00%, 07/01/47
 
435
411,718
City of Phoenix Civic Improvement Corp., RB, Junior
Lien, 5.25%, 07/01/47
 
2,425
2,666,659
Glendale Industrial Development Authority, RB, 5.00%,
05/15/56
 
65
61,081
Industrial Development Authority of the City of Phoenix
Arizona, RB, Series A, 5.00%, 07/01/46(b)
 
2,120
2,123,082
Industrial Development Authority of the County of Pima,
RB, 5.00%, 07/01/34(b)
 
400
401,076
Industrial Development Authority of the County of Pima,
Refunding RB, 5.00%, 06/15/49(b)
 
300
295,647
Maricopa County Industrial Development Authority,
Refunding RB, Series A, 4.13%, 09/01/38
 
775
777,797
Salt Verde Financial Corp., RB
 
5.00%, 12/01/32
 
3,500
3,720,596
5.00%, 12/01/37
 
5,235
5,682,810
 
 
17,706,171
Arkansas — 1.3%
Arkansas Development Finance Authority, RB
 
AMT, 4.75%, 09/01/49(b)
 
4,235
4,153,092
AMT, Sustainability Bonds, 5.70%, 05/01/53
 
1,170
1,215,902
City of Benton Arkansas Sales & Use Tax, RB, (AGM),
4.00%, 06/01/39
 
505
503,207
City of Springdale Arkansas Sales & Use Tax Revenue,
RB, Series B, (BAM), 4.13%, 08/01/47
 
3,085
3,089,135
 
 
8,961,336
California — 5.2%
California Community Choice Financing Authority, RB,
Series B, Sustainability Bonds, 5.00%, 01/01/55(a)
 
6,370
6,829,676
California Enterprise Development Authority, RB, 8.00%,
11/15/62(b)
 
1,025
1,061,449
California Infrastructure & Economic Development Bank,
RB, Series A-4, AMT, 8.00%, 01/01/50(a)(b)
 
825
849,884
California Municipal Finance Authority, ARB, AMT,
Senior Lien, 5.00%, 12/31/43
 
800
806,692
Security
 
Par
(000)
Value
California (continued)
California Pollution Control Financing Authority, RB,
AMT, 5.00%, 11/21/45(b)
$
1,755
$ 1,754,995
City of Los Angeles Department of Airports, Refunding
ARB, AMT, Subordinate, 5.00%, 05/15/46
 
830
871,826
Hartnell Community College District, GO, Series D,
7.00%, 08/01/34(c)
 
1,650
1,818,053
Norwalk-La Mirada Unified School District, Refunding
GO, Series E, Election 2002, (AGC), 0.00%,
08/01/38(d)
 
8,000
4,690,998
Palomar Community College District, GO
 
Series B, Convertible, 6.20%, 08/01/39(c)
 
2,605
3,182,351
Series B, Election 2006, 0.00%, 08/01/30(d)
 
1,500
1,249,199
San Diego Community College District, GO, Election
2002, 6.00%, 08/01/27(c)(e)
 
2,800
3,054,607
San Diego County Regional Airport Authority, ARB
 
Series B, AMT, 5.00%, 07/01/47
 
1,515
1,534,128
Series B, AMT, Subordinate, 5.00%, 07/01/56
 
2,150
2,205,933
San Diego Unified School District, GO(d)(f)
 
Class A, 0.00%, 07/01/29
 
5,315
4,641,765
Series A, 0.00%, 07/01/29
 
685
598,233
Washington Township Health Care District, GO,
Series B, Election 2004, 5.50%, 08/01/40
 
920
922,064
 
 
36,071,853
Colorado — 2.3%
City & County of Denver Colorado Airport System
Revenue, Refunding ARB, Series D, AMT, 5.75%,
11/15/45
 
1,160
1,283,335
City & County of Denver Colorado Pledged Excise Tax
Revenue, RB, CAB(d)
 
Series A-2, 0.00%, 08/01/37
 
1,490
847,725
Series A-2, 0.00%, 08/01/38
 
915
493,962
Colorado Educational & Cultural Facilities Authority, RB,
5.50%, 07/01/40
 
2,510
2,512,936
Colorado Health Facilities Authority, RB
 
5.50%, 11/01/47
 
480
526,814
5.25%, 11/01/52
 
1,000
1,063,653
Colorado Health Facilities Authority, Refunding RB
 
Series A, 5.00%, 08/01/44
 
4,415
4,548,469
Series A, 4.00%, 11/15/46
 
1,610
1,529,650
Series A, 4.00%, 08/01/49
 
1,950
1,788,890
Series A, 4.00%, 11/15/50
 
1,480
1,401,740
 
 
15,997,174
Connecticut — 0.1%
Connecticut State Health & Educational Facilities
Authority, RB
 
5.25%, 07/15/48
 
390
418,838
4.25%, 07/15/53
 
525
510,598
 
 
929,436
Delaware — 0.5%
County of Kent Delaware, RB
 
Series A, 5.00%, 07/01/40
 
330
333,793
Series A, 5.00%, 07/01/53
 
775
775,043
Delaware State Health Facilities Authority, RB, 5.00%,
06/01/48
 
2,180
2,200,096
 
 
3,308,932
District of Columbia — 5.6%
District of Columbia Income Tax Revenue, RB, Series A,
5.25%, 05/01/48
 
3,490
3,792,104
District of Columbia, Refunding RB, 5.00%, 10/01/48
 
1,695
1,708,978
District of Columbia, TA, 5.13%, 06/01/41
 
1,195
1,196,207
1
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
District of Columbia (continued)
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB
 
Series A, AMT, 4.00%, 10/01/39
$
1,060
$ 1,041,534
Series A, AMT, 5.25%, 10/01/48
 
1,395
1,474,905
Metropolitan Washington Airports Authority Dulles Toll
Road Revenue, Refunding RB
 
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/34(d)
 
10,170
6,966,933
Series B, 2nd Senior Lien, (AGC), 0.00%, 10/01/35(d)
 
13,485
8,811,193
Series B, Subordinate, 4.00%, 10/01/49
 
2,000
1,850,610
Washington Metropolitan Area Transit Authority
Dedicated Revenue, RB
 
Series A, 2nd Lien, Sustainability Bonds, 4.38%,
07/15/56
 
4,780
4,558,932
Series A, 2nd Lien, Sustainability Bonds, 4.38%,
07/15/59
 
6,720
6,669,196
Series A, Sustainability Bonds, 4.00%, 07/15/46
 
875
852,349
 
 
38,922,941
Florida — 7.5%
Broward County Florida Water & Sewer Utility Revenue,
RB, Series A, 4.00%, 10/01/45
 
585
572,154
Capital Trust Agency, Inc., RB(b)
 
5.00%, 01/01/55
 
305
290,557
Series A, 5.00%, 06/01/45
 
480
436,998
Series A, 5.50%, 06/01/57
 
170
159,175
City of Gainesville Florida Utilities System Revenue,
Refunding RB
 
Series A, 5.00%, 10/01/29(e)
 
20
21,914
Series A, 5.00%, 10/01/47
 
4,095
4,278,061
City of South Miami Health Facilities Authority, Inc.,
Refunding RB, 5.00%, 08/15/42
 
1,290
1,323,015
City of Tampa Florida, RB, Series B, 5.00%, 07/01/50
 
2,685
2,774,261
Collier County Industrial Development Authority, RB,
Series A, (AGM), 5.00%, 10/01/49
 
2,500
2,653,745
County of Broward Florida Airport System Revenue,
ARB, Series A, AMT, 5.00%, 10/01/49
 
1,000
1,032,652
County of Lee Florida Airport Revenue, ARB, AMT,
5.25%, 10/01/49
 
1,025
1,096,082
County of Miami-Dade Florida Aviation Revenue,
Refunding ARB, Series A, AMT, 5.00%, 10/01/44
 
4,695
4,790,119
County of Miami-Dade Florida, RB, 5.00%, 04/01/48
 
1,930
2,048,432
County of Miami-Dade Seaport Department, Refunding
RB, Series A-1, AMT, (AGM), 4.00%, 10/01/45
 
2,180
2,019,384
County of Osceola Florida Transportation Revenue,
Refunding RB, CAB(d)
 
Series A-2, 0.00%, 10/01/46
 
885
306,367
Series A-2, 0.00%, 10/01/47
 
1,040
342,135
County of Pasco Florida, RB, (AGM), 5.75%, 09/01/54
 
500
553,206
Cypress Bluff Community Development District, SAB,
Series A, 3.80%, 05/01/50(b)
 
430
348,216
Florida Development Finance Corp., RB
 
6.50%, 06/30/57(b)(g)(h)
 
612
431,937
Series A, 5.00%, 06/15/56
 
75
74,987
AMT, 5.00%, 05/01/29(b)
 
270
274,357
Florida Development Finance Corp., Refunding RB
 
5.00%, 09/15/50(b)
 
270
248,273
AMT, (AGM), 5.25%, 07/01/53
 
8,095
8,404,046
Hillsborough County Aviation Authority, ARB, Class A,
AMT, 5.00%, 10/01/48
 
1,730
1,756,875
Hillsborough County Industrial Development Authority,
Refunding RB
 
Series C, 5.25%, 11/15/49
 
825
907,702
Security
 
Par
(000)
Value
Florida (continued)
Hillsborough County Industrial Development Authority,
Refunding RB (continued)
 
Series C, 4.13%, 11/15/51
$
6,370
$ 6,173,167
Series C, 5.50%, 11/15/54
 
1,325
1,483,295
Lakewood Ranch Stewardship District, SAB, 6.30%,
05/01/54
 
570
599,271
Orange County Health Facilities Authority, RB
 
5.00%, 10/01/47
 
1,500
1,553,520
Series A, 5.00%, 10/01/53
 
1,075
1,120,754
Palm Beach County Health Facilities Authority,
Refunding RB, 4.00%, 08/15/49
 
1,185
1,123,348
Southern Groves Community Development District No.
5, Refunding SAB, 4.00%, 05/01/43
 
220
188,954
Stevens Plantation Community Development District,
SAB, Series A, 7.10%, 05/01/35(g)(h)
 
800
536,091
Trout Creek Community Development District, SAB
 
4.00%, 05/01/40
 
630
573,699
4.00%, 05/01/51
 
1,050
873,565
Village Community Development District No. 15, SAB,
5.25%, 05/01/54(b)
 
595
613,932
Westside Community Development District, SAB,
4.00%, 05/01/50
 
815
623,734
 
 
52,607,980
Georgia — 2.1%
City of Atlanta Georgia Department of Aviation,
Refunding ARB, Series B, AMT, 5.00%, 07/01/52
 
1,520
1,559,919
Dalton Whitfield County Joint Development Authority,
RB, 4.00%, 08/15/48
 
2,615
2,441,687
East Point Business & Industrial Development Authority,
RB, Series A, 5.25%, 06/15/62(b)
 
535
528,871
Gainesville & Hall County Hospital Authority, RB,
Series A, 4.00%, 02/15/51
 
1,460
1,358,083
Main Street Natural Gas, Inc., RB, Series A, 5.00%,
06/01/53(a)
 
7,815
8,263,832
Municipal Electric Authority of Georgia, RB, Series A,
5.00%, 01/01/59
 
480
486,445
 
 
14,638,837
Hawaii — 0.1%
State of Hawaii Airports System Revenue, COP
 
AMT, 5.25%, 08/01/25
 
425
425,215
AMT, 5.25%, 08/01/26
 
460
460,232
 
 
885,447
Idaho — 0.4%
Idaho Housing & Finance Association, RB, S/F Housing,
Series A, (FHLMC, FNMA, GNMA), 4.60%, 01/01/49
 
855
850,333
Power County Industrial Development Corp., RB,
6.45%, 08/01/32
 
2,000
2,004,438
 
 
2,854,771
Illinois — 7.9%
Chicago Board of Education, GO
 
Series A, 5.00%, 12/01/34
 
1,760
1,808,920
Series A, 5.00%, 12/01/40
 
1,410
1,423,100
Series A, 5.00%, 12/01/42
 
1,480
1,451,851
Series C, 5.25%, 12/01/35
 
2,655
2,656,415
Series D, 5.00%, 12/01/46
 
3,480
3,447,802
Series H, 5.00%, 12/01/36
 
585
588,490
Chicago Board of Education, Refunding GO
 
Series C, 5.00%, 12/01/27
 
500
513,440
Series C, 5.00%, 12/01/34
 
475
482,158
Schedule of Investments
2
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Illinois (continued)
Chicago Board of Education, Refunding GO (continued)
 
Series G, 5.00%, 12/01/34
$
315
$ 319,240
Chicago Midway International Airport, Refunding ARB,
Series B, 5.00%, 01/01/46
 
2,240
2,253,040
Chicago O’Hare International Airport, ARB, Series D,
AMT, Senior Lien, 5.00%, 01/01/47
 
2,480
2,487,282
Chicago O’Hare International Airport, Refunding ARB,
Series A, AMT, Senior Lien, 4.38%, 01/01/53
 
1,390
1,344,082
City of Chicago Illinois Wastewater Transmission
Revenue, RB, Series A, 2nd Lien, (AGM), 5.25%,
01/01/58
 
885
945,331
City of Chicago Illinois Waterworks Revenue, RB,
Series A, 2nd Lien, (AGM), 5.25%, 11/01/53
 
1,445
1,548,328
Illinois Finance Authority, RB, Series A, 5.00%, 02/15/37
 
820
826,915
Illinois Finance Authority, Refunding RB
 
4.00%, 02/15/27(e)
 
60
61,542
4.00%, 02/15/41
 
1,885
1,821,754
Series A, 4.00%, 07/15/47
 
1,485
1,406,283
Illinois State Toll Highway Authority, RB
 
Series A, 5.00%, 01/01/40
 
5,625
5,655,316
Series B, 5.00%, 01/01/40
 
2,250
2,273,163
Metropolitan Pier & Exposition Authority, RB, 5.00%,
06/15/57
 
2,370
2,413,983
Metropolitan Pier & Exposition Authority, Refunding
RB(d)
 
Series B, (AGM), 0.00%, 06/15/44
 
3,765
1,611,876
Series B, (AGM), 0.00%, 06/15/47
 
22,775
8,340,898
State of Illinois, GO
 
5.25%, 02/01/31
 
1,485
1,489,169
5.25%, 02/01/32
 
2,365
2,371,639
5.50%, 05/01/39
 
795
858,717
Series B, 5.25%, 05/01/41
 
1,770
1,913,322
Series B, 5.25%, 05/01/49
 
1,875
2,000,498
Series D, 5.00%, 11/01/28
 
900
941,512
 
 
55,256,066
Indiana — 1.0%
City of Valparaiso Indiana, Refunding RB, AMT, 4.50%,
01/01/34(b)
 
425
436,673
Indiana Housing & Community Development Authority,
RB, S/F Housing, Series A-1, Sustainability Bonds,
(FHLMC, FNMA, GNMA), 4.65%, 07/01/49
 
2,475
2,462,540
Indianapolis Local Public Improvement Bond Bank, RB,
Series F1, Subordinate, (BAM), 5.00%, 03/01/53
 
3,950
4,176,949
 
 
7,076,162
Kentucky — 1.0%
Fayette County School District Finance Corp., RB
 
5.00%, 06/01/44
 
860
921,447
(BAM), 5.00%, 06/01/46
 
760
809,020
(BAM), 5.00%, 06/01/47
 
1,155
1,225,443
Kentucky Economic Development Finance Authority,
Refunding RB, Series A, 5.00%, 08/01/44
 
735
753,251
Kentucky Public Transportation Infrastructure Authority,
RB, CAB(c)
 
Convertible, 6.45%, 07/01/34
 
500
583,810
Convertible, 6.60%, 07/01/39
 
830
970,209
Convertible, 6.75%, 07/01/43
 
1,770
2,068,161
 
 
7,331,341
Louisiana — 2.3%
Lake Charles Harbor & Terminal District, ARB, Series B,
AMT, (AGM), 5.50%, 01/01/29
 
1,500
1,501,616
Security
 
Par
(000)
Value
Louisiana (continued)
Louisiana Public Facilities Authority, RB
 
5.25%, 10/01/48
$
1,330
$ 1,387,874
5.25%, 10/01/53
 
2,810
2,908,187
AMT, 5.75%, 09/01/64
 
3,235
3,489,300
Louisiana Public Facilities Authority, Refunding RB,
5.00%, 05/15/47
 
1,635
1,642,540
Louisiana Stadium & Exposition District, Refunding RB,
Series A, 5.00%, 07/01/48
 
2,990
3,152,381
New Orleans Aviation Board, ARB, Series B, AMT,
5.00%, 01/01/45
 
2,200
2,199,700
 
 
16,281,598
Maryland — 0.6%
Anne Arundel County Consolidated Special Taxing
District, ST
 
5.13%, 07/01/36
 
170
170,104
5.25%, 07/01/44
 
170
170,057
Maryland Health & Higher Educational Facilities
Authority, RB
 
Series B, 4.00%, 04/15/50
 
1,645
1,510,515
Series C, 5.00%, 05/15/45
 
2,125
2,164,756
 
 
4,015,432
Massachusetts — 2.6%
Commonwealth of Massachusetts, GO
 
Series C, 5.00%, 10/01/47
 
1,195
1,280,763
Series C, 5.00%, 10/01/52
 
1,240
1,318,415
Massachusetts Development Finance Agency, RB
 
5.00%, 10/01/48
 
830
830,354
Series A, 5.25%, 01/01/42
 
1,110
1,117,862
Series A, 5.00%, 01/01/47
 
5,005
5,026,290
Massachusetts Development Finance Agency,
Refunding RB
 
4.00%, 07/01/39
 
1,140
1,031,999
5.00%, 04/15/40
 
400
391,731
Series A, 5.00%, 10/01/35
 
500
503,048
Series P, 5.45%, 05/15/59
 
2,010
2,201,860
Massachusetts Educational Financing Authority,
Refunding RB, Series B, AMT, 3.63%, 07/01/34
 
30
29,377
Massachusetts Port Authority, ARB, Series E, AMT,
5.00%, 07/01/46
 
3,100
3,220,145
Massachusetts Port Authority, Refunding ARB, Series A,
AMT, 5.00%, 07/01/47
 
1,500
1,507,331
 
 
18,459,175
Michigan — 4.5%
City of Detroit Michigan Water Supply System Revenue,
RB, Series B, 2nd Lien, (AGM), 6.25%, 07/01/36
 
5
5,010
City of Lansing Michigan, Refunding GO, Series B,
(AGM), 4.13%, 06/01/48
 
1,360
1,302,484
Eastern Michigan University, RB, Series A, 4.00%,
03/01/28(e)
 
45
46,656
Great Lakes Water Authority Sewage Disposal System
Revenue, RB
 
Series B, 2nd Lien, 5.25%, 07/01/47
 
1,490
1,601,048
Series B, 2nd Lien, 5.50%, 07/01/52
 
3,525
3,826,007
Series A, Senior Lien, 5.25%, 07/01/52
 
3,525
3,762,172
Great Lakes Water Authority Water Supply System
Revenue, RB
 
Series A, Senior Lien, 5.25%, 07/01/52
 
3,525
3,762,172
Series B, Senior Lien, 5.50%, 07/01/52
 
3,525
3,826,029
Michigan Finance Authority, RB
 
4.00%, 02/15/47
 
4,815
4,399,989
4.00%, 02/15/50
 
3,140
2,840,714
3
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Michigan (continued)
Michigan Finance Authority, RB (continued)
 
Sustainability Bonds, 5.50%, 02/28/57
$
355
$ 387,924
Michigan State Building Authority, Refunding RB,
Series I, 4.00%, 10/15/52
 
710
667,232
Michigan State Housing Development Authority, RB, S/F
Housing, Series D, Sustainability Bonds, 4.45%,
12/01/49
 
1,085
1,063,325
Michigan Strategic Fund, RB, AMT, 5.00%, 12/31/43
 
1,795
1,823,158
State of Michigan Trunk Line Revenue, RB, 5.00%,
11/15/46
 
1,980
2,147,861
 
 
31,461,781
Minnesota — 1.0%
City of Spring Lake Park Minnesota, RB, 5.00%,
06/15/39
 
1,080
1,062,480
Duluth Economic Development Authority, Refunding RB
 
Series A, 4.25%, 02/15/48
 
3,800
3,673,722
Series A, 5.25%, 02/15/53
 
415
423,723
Series A, 5.25%, 02/15/58
 
1,605
1,637,605
 
 
6,797,530
Mississippi — 0.9%
Mississippi Development Bank, RB, (AGM), 6.88%,
12/01/40
 
3,595
3,603,671
Mississippi Home Corp., RB, S/F Housing, Series C,
(FHLMC, FNMA, GNMA), 4.80%, 12/01/49
 
2,970
2,990,456
 
 
6,594,127
Missouri — 1.0%
Health & Educational Facilities Authority of the State of
Missouri, Refunding RB, Series A, 4.00%, 02/15/49
 
1,910
1,783,260
Kansas City Industrial Development Authority, ARB,
Class B, AMT, 5.00%, 03/01/54
 
3,530
3,598,192
Missouri Housing Development Commission, RB, S/F
Housing, Series C, (FHLMC, FNMA, GNMA), 4.55%,
11/01/44
 
1,335
1,344,489
 
 
6,725,941
Montana — 0.0%
Montana Board of Housing, RB, S/F Housing
 
Series B-2, 3.50%, 12/01/42
 
60
59,758
Series B-2, 3.60%, 12/01/47
 
100
86,017
 
 
145,775
Nebraska — 0.1%
Douglas County Hospital Authority No. 3, Refunding RB,
5.00%, 11/01/45
 
400
402,477
Nevada — 0.5%
Las Vegas Valley Water District, GOL, Series A, 4.00%,
06/01/51
 
2,690
2,584,535
State of Nevada Department of Business & Industry, RB,
Series A4, AMT, 8.13%, 01/01/50(a)
 
100
103,016
Tahoe-Douglas Visitors Authority, RB
 
5.00%, 07/01/40
 
595
613,716
5.00%, 07/01/45
 
420
427,187
 
 
3,728,454
New Hampshire — 0.1%
New Hampshire Business Finance Authority, RB, M/F
Housing, Series 2, Sustainability Bonds, 4.25%,
07/20/41
 
969
947,832
Security
 
Par
(000)
Value
New Jersey — 7.4%
Casino Reinvestment Development Authority, Inc.,
Refunding RB
 
5.25%, 11/01/39
$
1,265
$ 1,265,000
5.25%, 11/01/44
 
1,885
1,885,000
New Jersey Economic Development Authority, ARB,
Series B, AMT, 5.63%, 11/15/30
 
660
662,116
New Jersey Economic Development Authority, RB
 
5.00%, 12/15/28(e)
 
60
64,940
5.00%, 06/15/34
 
365
390,703
5.00%, 06/15/36
 
460
489,777
5.00%, 06/15/43
 
100
103,575
Class A, 5.25%, 11/01/47
 
4,795
5,183,100
Series B, 4.50%, 06/15/40
 
1,270
1,290,559
Series EEE, 5.00%, 06/15/48
 
4,275
4,404,830
AMT, (AGM), 5.00%, 01/01/31
 
790
790,778
AMT, (AGM), 5.13%, 07/01/42
 
200
200,288
AMT, 5.38%, 01/01/43
 
3,000
3,005,855
New Jersey Economic Development Authority,
Refunding SAB
 
6.50%, 04/01/28
 
3,038
3,124,971
5.75%, 04/01/31
 
2,675
2,755,774
New Jersey Health Care Facilities Financing Authority,
Refunding RB, Series A, 5.00%, 07/01/43
 
2,965
3,002,920
New Jersey Higher Education Student Assistance
Authority, Refunding RB
 
Series B, AMT, 4.00%, 12/01/41
 
3,000
2,928,445
Series C, AMT, Subordinate, 5.00%, 12/01/52
 
3,425
3,470,452
New Jersey Housing & Mortgage Finance Agency, RB,
S/F Housing, Series K, Sustainability Bonds, 4.55%,
10/01/44
 
810
815,372
New Jersey Transportation Trust Fund Authority, RB
 
5.00%, 12/15/32(e)
 
4,075
4,625,812
Series AA, 5.00%, 06/15/45
 
900
907,291
Series AA, 5.00%, 06/15/46
 
400
402,610
Series S, 4.13%, 06/15/39
 
1,040
1,040,059
Series S, 5.25%, 06/15/43
 
2,810
2,946,899
Series S, 5.00%, 06/15/46
 
2,070
2,135,871
New Jersey Transportation Trust Fund Authority, RB,
CAB, Series A, 0.00%, 12/15/35(d)
 
1,000
654,133
New Jersey Transportation Trust Fund Authority,
Refunding RB
 
Series A, 5.00%, 06/15/37
 
1,440
1,583,041
Series A, 5.25%, 06/15/42
 
575
633,046
Tobacco Settlement Financing Corp., Refunding RB,
Series A, 5.00%, 06/01/46
 
650
660,937
 
 
51,424,154
New Mexico — 0.0%
City of Santa Fe New Mexico, RB, Series A, 5.00%,
05/15/44
 
200
197,910
New York — 15.3%
City of New York, GO
 
Series A, 5.00%, 08/01/46
 
2,265
2,434,478
Series A, 5.00%, 08/01/48
 
4,750
5,079,235
Series A-1, 4.00%, 09/01/46
 
2,175
2,120,163
Empire State Development Corp., RB
 
Series A, 4.00%, 03/15/49
 
1,600
1,539,158
Series A, 5.00%, 03/15/54
 
5,950
6,356,532
Erie Tobacco Asset Securitization Corp., Refunding RB,
Series A, 5.00%, 06/01/45
 
3,585
3,271,972
Schedule of Investments
4
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
New York (continued)
Metropolitan Transportation Authority Dedicated Tax
Fund, Refunding RB, Sub-Series B-1, Sustainability
Bonds, 5.00%, 11/15/51
$
2,550
$ 2,586,129
Metropolitan Transportation Authority, Refunding RB
 
Series C-1, 5.00%, 11/15/56
 
2,670
2,688,530
Series C-1, 5.25%, 11/15/56
 
10
10,128
Series A, Sustainability Bonds, (BAM), 4.00%,
11/15/48
 
2,770
2,622,923
Series C-1, Sustainability Bonds, 4.75%, 11/15/45
 
1,950
1,998,922
Series C-1, Sustainability Bonds, 5.00%, 11/15/50
 
370
383,112
Series C-1, Sustainability Bonds, 5.25%, 11/15/55
 
1,040
1,085,891
New York City Housing Development Corp., RB, M/F
Housing
 
Series A, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.70%, 08/01/54
 
2,565
2,567,463
Series E-1, Sustainability Bonds, 4.85%, 11/01/53
 
2,165
2,190,522
New York City Housing Development Corp., Refunding
RB, Series A, Sustainability Bonds, 4.15%, 11/01/38
 
2,425
2,396,423
New York City Municipal Water Finance Authority, RB
 
Sub-Series CC-1, 5.25%, 06/15/54
 
700
763,654
Series AA, Class 1, Subordinate, 5.00%, 06/15/51
 
5,955
6,409,356
New York City Transitional Finance Authority Future Tax
Secured Revenue, RB, Series F-1, Subordinate,
4.00%, 02/01/51
 
5,500
5,341,397
New York Counties Tobacco Trust IV, Refunding RB
 
Series A, 5.00%, 06/01/38
 
1,360
1,312,760
Series A, 6.25%, 06/01/41(b)
 
2,900
2,900,886
New York Counties Tobacco Trust VI, Refunding RB
 
Series A-2B, 5.00%, 06/01/45
 
255
249,080
Series A-2B, 5.00%, 06/01/51
 
245
228,634
New York Liberty Development Corp., Refunding RB
 
Class 1, 5.00%, 11/15/44(b)
 
3,920
3,901,277
Class 2, 5.38%, 11/15/40(b)
 
1,450
1,450,205
Series A, Sustainability Bonds, (BAM-TCRS), 3.00%,
11/15/51
 
4,565
3,346,589
Series A, Sustainability Bonds, 3.00%, 11/15/51
 
1,685
1,239,794
New York Power Authority, RB, Series A, Sustainability
Bonds, (AGM), 5.13%, 11/15/58
 
1,305
1,405,616
New York Power Authority, Refunding RB, Series A,
Sustainability Bonds, 4.00%, 11/15/55
 
1,160
1,119,287
New York State Dormitory Authority, Refunding RB,
Series A, 4.00%, 03/15/54
 
1,895
1,830,799
New York State Urban Development Corp., RB,
Series A, 4.00%, 03/15/45
 
3,000
2,940,980
New York State Urban Development Corp., Refunding
RB, 4.00%, 03/15/49
 
1,850
1,750,505
New York Transportation Development Corp., ARB,
AMT, 5.63%, 04/01/40
 
1,265
1,356,033
New York Transportation Development Corp., RB
 
AMT, 5.00%, 10/01/35
 
1,910
1,986,380
AMT, Sustainability Bonds, 6.00%, 06/30/54
 
1,935
2,082,766
AMT, Sustainability Bonds, (AGM), 5.25%, 06/30/60
 
3,880
4,040,054
AMT, Sustainability Bonds, 5.50%, 06/30/60
 
5,045
5,311,826
New York Transportation Development Corp., Refunding
RB, Series A, AMT, Sustainability Bonds, 12/31/54(i)
 
3,275
3,488,050
Port Authority of New York & New Jersey, Refunding
ARB
 
Series 198, 5.25%, 11/15/56
 
715
736,135
AMT, 5.00%, 01/15/47
 
4,860
5,111,337
Security
 
Par
(000)
Value
New York (continued)
Triborough Bridge & Tunnel Authority Sales Tax
Revenue, RB, Series A, 4.13%, 05/15/53
$
6,415
$ 6,300,258
TSASC, Inc., Refunding RB, Series A, 5.00%, 06/01/41
 
535
540,844
Westchester Tobacco Asset Securitization Corp.,
Refunding RB, Sub-Series C, 4.00%, 06/01/42
 
290
270,750
 
 
106,746,833
North Carolina — 1.2%
City of Charlotte North Carolina Airport Revenue,
Refunding ARB, Series B, AMT, 4.50%, 07/01/47
 
4,455
4,464,864
North Carolina Housing Finance Agency, RB, S/F
Housing, Series 54-A, (FHLMC, FNMA, GNMA),
4.70%, 07/01/50
 
1,445
1,449,757
North Carolina Turnpike Authority, RB, Senior Lien,
(AGM), 5.00%, 01/01/49
 
1,825
1,894,577
University of North Carolina at Chapel Hill, RB, 5.00%,
02/01/49
 
460
511,395
 
 
8,320,593
North Dakota — 0.4%
North Dakota Housing Finance Agency, RB, S/F
Housing, Series C, Sustainability Bonds, 4.75%,
07/01/49
 
2,585
2,556,947
Ohio — 1.5%
Buckeye Tobacco Settlement Financing Authority,
Refunding RB
 
Series A-2, Class 1, 4.00%, 06/01/48
 
610
550,493
Series B-2, Class 2, 5.00%, 06/01/55
 
3,680
3,318,720
County of Franklin Ohio, RB
 
Series A, 4.00%, 12/01/44
 
365
348,187
Series A, 5.00%, 12/01/47
 
290
295,827
County of Hamilton Ohio, RB, Series CC, 5.00%,
11/15/49
 
550
613,754
Ohio Housing Finance Agency, RB, S/F Housing,
Series B, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.65%, 09/01/49
 
3,205
3,210,935
State of Ohio, Refunding RB, Series A, 4.00%, 01/15/50
 
2,250
2,027,974
 
 
10,365,890
Oklahoma — 0.9%
Creek County Educational Facilities Authority, RB,
(BAM), 4.13%, 09/01/48
 
890
887,524
Oklahoma Development Finance Authority, RB,
Series B, 5.50%, 08/15/52
 
1,080
1,105,589
Oklahoma Turnpike Authority, RB, Series A, 4.00%,
01/01/48
 
640
611,909
Oklahoma Water Resources Board, RB, 4.00%,
04/01/48
 
950
930,963
University of Oklahoma, RB, Series A, (BAM), 5.00%,
07/01/54
 
2,660
2,834,613
 
 
6,370,598
Oregon — 0.0%
Clackamas County School District No. 12 North
Clackamas, GO, CAB, Series A, (GTD), 0.00%,
06/15/38(d)
 
510
276,802
Pennsylvania — 6.1%
Allegheny County Airport Authority, ARB, Series A, AMT,
(AGM-CR), 4.00%, 01/01/56
 
1,670
1,514,409
Allegheny County Hospital Development Authority,
Refunding RB, Series A, 5.00%, 04/01/47
 
2,130
2,151,914
5
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Pennsylvania (continued)
Lancaster Industrial Development Authority, RB, 5.00%,
12/01/44
$
780
$ 790,460
Montgomery County Higher Education and Health
Authority, Refunding RB, 4.00%, 09/01/51
 
1,430
1,318,360
Montgomery County Industrial Development Authority,
RB, Series C, 5.00%, 11/15/45
 
605
618,815
Pennsylvania Economic Development Financing
Authority, RB
 
5.00%, 06/30/42
 
390
393,799
AMT, 5.50%, 06/30/40
 
2,000
2,138,275
AMT, 5.75%, 06/30/48
 
3,150
3,369,239
Pennsylvania Economic Development Financing
Authority, Refunding RB, AMT, 5.50%, 11/01/44
 
1,905
1,905,668
Pennsylvania Higher Educational Facilities Authority,
Refunding RB
 
Series A, 5.25%, 09/01/50
 
3,765
3,768,238
Series B2, 11/01/54(i)
 
2,280
2,483,923
Pennsylvania Housing Finance Agency, RB, S/F
Housing, Series 145A, Sustainability Bonds, 4.75%,
10/01/49
 
5,595
5,647,053
Pennsylvania Housing Finance Agency, Refunding RB,
S/F Housing, Series 142-A, Sustainability Bonds,
5.00%, 10/01/50
 
1,130
1,160,523
Pennsylvania Turnpike Commission Oil Franchise Tax
Revenue, Refunding RB
 
Series A, 4.00%, 12/01/51
 
9,445
8,918,610
Series B, 4.00%, 12/01/53
 
1,435
1,346,339
Pennsylvania Turnpike Commission, RB
 
Series A, 5.00%, 12/01/44
 
1,380
1,381,789
Series A, Subordinate, 4.00%, 12/01/50
 
1,075
1,009,766
Series A, Subordinate, (BAM-TCRS), 4.00%,
12/01/50
 
535
517,413
Series B, Subordinate, 4.00%, 12/01/51
 
610
574,440
Pennsylvania Turnpike Commission, Refunding RB,
Series C, 4.00%, 12/01/51
 
1,555
1,473,825
 
 
42,482,858
Puerto Rico — 5.3%
Commonwealth of Puerto Rico, GO
 
Series A-1, Restructured, 5.63%, 07/01/29
 
3,910
4,206,288
Series A-1, Restructured, 5.75%, 07/01/31
 
3,524
3,874,494
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB
 
Series A-1, Restructured, 4.75%, 07/01/53
 
9,243
9,119,476
Series A-1, Restructured, 5.00%, 07/01/58
 
11,438
11,451,780
Series A-2, Restructured, 4.78%, 07/01/58
 
2,097
2,074,346
Series B-2, Restructured, 4.78%, 07/01/58
 
412
405,544
Puerto Rico Sales Tax Financing Corp. Sales Tax
Revenue, RB, CAB, Series A-1, Restructured, 0.00%,
07/01/46(d)
 
18,719
6,001,736
 
 
37,133,664
Rhode Island — 0.7%
Rhode Island Housing & Mortgage Finance Corp., RB,
S/F Housing
 
Sustainability Bonds, (GNMA), 4.60%, 10/01/44
 
2,970
3,013,472
Series A, Sustainability Bonds, (GNMA), 4.45%,
10/01/44
 
1,550
1,553,037
 
 
4,566,509
South Carolina — 2.2%
County of Berkeley South Carolina, SAB
 
4.25%, 11/01/40
 
315
294,759
4.38%, 11/01/49
 
470
421,149
Security
 
Par
(000)
Value
South Carolina (continued)
Patriots Energy Group Financing Agency, RB, Series A1,
5.25%, 10/01/54(a)
$
1,575
$ 1,701,685
South Carolina Jobs-Economic Development Authority,
RB
 
5.00%, 01/01/55(b)
 
845
730,197
Series A, 5.50%, 11/01/50
 
2,755
3,046,458
Series A, 5.50%, 11/01/54
 
980
1,077,229
South Carolina Jobs-Economic Development Authority,
Refunding RB
 
4.00%, 12/01/44
 
2,015
1,948,671
Series A, 5.00%, 05/01/43
 
1,680
1,717,657
Series A, 4.25%, 05/01/48
 
1,385
1,362,515
South Carolina Ports Authority, ARB, Series B, AMT,
4.00%, 07/01/49
 
1,745
1,599,901
South Carolina Public Service Authority, RB, Series A,
5.50%, 12/01/54
 
965
1,060,631
South Carolina Public Service Authority, Refunding RB,
Series A, 5.00%, 12/01/36
 
175
177,903
South Carolina State Housing Finance & Development
Authority, Refunding RB, S/F Housing, Series A,
4.95%, 07/01/53
 
205
212,148
 
 
15,350,903
South Dakota — 0.9%
City of Rapid City South Dakota Sales Tax Revenue,
RB, 4.00%, 12/01/26(e)
 
740
757,313
South Dakota Health & Educational Facilities Authority,
Refunding RB, 5.00%, 07/01/46
 
5,205
5,254,264
 
 
6,011,577
Tennessee — 2.8%
Knox County Health Educational & Housing Facility
Board, RB, Series A-1, (BAM), 5.50%, 07/01/59
 
430
461,100
Memphis-Shelby County Airport Authority, ARB
 
Series A, AMT, 5.00%, 07/01/45
 
3,515
3,625,122
Series A, AMT, 5.00%, 07/01/49
 
11,275
11,610,365
Metropolitan Government Nashville & Davidson County
Health & Educational Facilities Board, RB, 5.25%,
05/01/48
 
555
594,864
Metropolitan Government Nashville & Davidson County
Health & Educational Facilities Board, Refunding RB
 
4.00%, 10/01/49
 
230
189,677
5.25%, 10/01/58
 
2,930
2,949,980
Tennessee Housing Development Agency, RB, S/F
Housing
 
Series 2-A, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.45%, 07/01/44
 
165
166,229
Series 2-A, Sustainability Bonds, (FHLMC, FNMA,
GNMA), 4.60%, 07/01/49
 
200
201,062
 
 
19,798,399
Texas — 10.2%
Arlington Higher Education Finance Corp., RB(b)
 
7.50%, 04/01/62
 
1,165
1,187,069
7.88%, 11/01/62
 
1,005
1,051,563
City of Austin Texas Airport System Revenue, ARB
 
AMT, 5.25%, 11/15/47
 
2,500
2,660,773
Series B, AMT, 5.00%, 11/15/44
 
1,290
1,331,571
City of Galveston Texas Wharves & Terminal Revenue,
ARB
 
Series A, AMT, 1st Lien, 5.50%, 08/01/43
 
100
108,832
Series A, AMT, 1st Lien, 5.50%, 08/01/44
 
100
108,547
City of Garland Texas Electric Utility System Revenue,
Refunding RB, (AGM), 4.25%, 03/01/48
 
275
276,037
Schedule of Investments
6
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Texas (continued)
City of Houston Texas Airport System Revenue,
Refunding RB
 
Sub-Series A, AMT, 4.00%, 07/01/40
$
1,525
$ 1,473,208
Sub-Series A, AMT, 4.00%, 07/01/46
 
1,390
1,284,421
Sub-Series A, AMT, 4.00%, 07/01/48
 
3,420
3,142,527
County of Harris Texas Toll Road Revenue, Refunding
RB, Series A, 1st Lien, 4.00%, 08/15/49
 
7,370
7,151,856
Dallas Fort Worth International Airport, Refunding RB,
Series B, 4.00%, 11/01/45
 
5,000
4,850,445
Fort Bend Independent School District, Refunding GO,
Series A, (PSF-GTD), 4.00%, 08/15/49
 
990
942,879
Gunter Independent School District, GO, (PSF-GTD),
4.00%, 02/15/53
 
470
439,237
Harris County Cultural Education Facilities Finance
Corp., Refunding RB, 4.00%, 10/01/47
 
655
621,764
Harris County Flood Control District, Refunding GOL,
Series A, Sustainability Bonds, 4.00%, 09/15/48
 
1,340
1,273,329
Harris County-Houston Sports Authority, Refunding RB,
Series G, Senior Lien, (NPFGC), 0.00%, 11/15/41(d)
 
10,690
4,103,291
Hutto Independent School District, GO, (PSF-GTD),
5.00%, 08/01/48
 
155
166,192
Midland County Fresh Water Supply District No. 1, RB,
CAB, Series A, 0.00%, 09/15/27(d)(e)
 
14,680
7,527,240
New Braunfels Independent School District, GO, (PSF-
GTD), 4.00%, 02/01/52
 
970
915,643
New Caney Independent School District, GO, (PSF-
GTD), 4.00%, 02/15/49
 
2,470
2,386,286
New Hope Cultural Education Facilities Finance Corp.,
RB, Series A, 5.00%, 08/15/50(b)
 
455
432,696
North Texas Tollway Authority, RB, Series B, 0.00%,
09/01/31(d)(e)
 
2,415
1,209,583
North Texas Tollway Authority, Refunding RB
 
4.25%, 01/01/49
 
2,335
2,325,635
Series B, Refunding RB, 5.00%, 01/01/48
 
1,605
1,630,666
Port Authority of Houston of Harris County Texas, ARB
 
5.00%, 10/01/51
 
1,640
1,736,496
1st Lien, 5.00%, 10/01/53
 
1,375
1,470,679
Spring Branch Independent School District, GO, (PSF-
GTD), 4.00%, 02/01/48
 
1,275
1,236,752
Tarrant County Cultural Education Facilities Finance
Corp., RB
 
Series A, 4.00%, 07/01/53
 
6,695
6,198,527
Series B, 5.00%, 07/01/48
 
2,000
2,058,353
Tarrant County Cultural Education Facilities Finance
Corp., Refunding RB, 5.00%, 10/01/49
 
285
293,895
Texas City Industrial Development Corp., RB,
Series 2012, 4.13%, 12/01/45
 
255
241,969
Texas Transportation Commission State Highway
249 System, RB, CAB(d)
 
0.00%, 08/01/35
 
270
170,604
0.00%, 08/01/36
 
145
87,224
0.00%, 08/01/37
 
195
111,204
0.00%, 08/01/38
 
200
108,085
0.00%, 08/01/39
 
1,000
512,307
0.00%, 08/01/43
 
795
325,493
0.00%, 08/01/44
 
605
233,697
0.00%, 08/01/45
 
1,135
414,801
Security
 
Par
(000)
Value
Texas (continued)
Texas Water Development Board, RB, 4.80%, 10/15/52
$
5,965
$ 6,213,955
Waxahachie Independent School District, GO, (PSF-
GTD), 4.00%, 02/15/49
 
1,100
1,052,895
 
 
71,068,226
Utah — 1.2%
Black Desert Public Infrastructure District, SAB, 5.63%,
12/01/53(b)
 
375
382,097
City of Salt Lake City Utah Airport Revenue, ARB
 
Series A, AMT, 5.00%, 07/01/48
 
3,410
3,454,213
Series A, AMT, 5.00%, 07/01/51
 
1,340
1,373,436
Utah Charter School Finance Authority, RB, 5.00%,
06/15/39(b)
 
200
200,252
Utah Charter School Finance Authority, Refunding RB
 
5.00%, 06/15/40(b)
 
150
148,794
4.00%, 04/15/42
 
400
374,029
5.00%, 06/15/55(b)
 
385
361,836
Utah Housing Corp., RB, S/F Housing, Series E,
(FHLMC, FNMA, GNMA), 4.70%, 01/01/50
 
1,850
1,857,399
 
 
8,152,056
Vermont — 0.0%
Vermont Student Assistance Corp., RB, Series A, AMT,
4.13%, 06/15/30
 
275
275,059
Virginia — 0.7%
Ballston Quarter Community Development Authority, TA,
Series A-1, 5.50%, 03/01/46
 
185
163,878
Ballston Quarter Community Development Authority, TA,
CAB, Series A-2, 7.13%, 03/01/59(c)
 
444
326,338
Isle Wight County Industrial Development Authority, RB,
(AGM), 5.25%, 07/01/53
 
1,260
1,362,066
Virginia Housing Development Authority, RB, S/F
Housing, Series E-2, 4.40%, 10/01/44
 
365
363,730
Virginia Small Business Financing Authority, RB, AMT,
5.00%, 12/31/52
 
2,330
2,340,688
 
 
4,556,700
Washington — 1.4%
Port of Seattle Washington, ARB, Series A, AMT, 5.00%,
05/01/43
 
3,120
3,147,886
Port of Seattle Washington, Refunding ARB, Series C,
AMT, Intermediate Lien, 5.00%, 08/01/46
 
5,645
5,891,414
Washington State Housing Finance Commission,
Refunding RB, 5.00%, 01/01/43(b)
 
900
845,612
 
 
9,884,912
Wisconsin — 0.4%
Public Finance Authority, RB
 
Class A, 6.00%, 06/15/52
 
385
361,111
Class A, 6.13%, 06/15/57
 
435
411,616
Series A, 5.00%, 07/01/55(b)
 
300
273,144
Series A-1, 4.50%, 01/01/35(b)
 
215
211,750
Public Finance Authority, Refunding RB, 5.00%,
09/01/49(b)
 
305
286,292
Wisconsin Health & Educational Facilities Authority,
Refunding RB, 5.00%, 04/01/44
 
1,505
1,561,802
 
 
3,105,715
Total Municipal Bonds — 114.6%
(Cost: $778,337,715)
801,356,047
7
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
(Percentages shown are based on Net Assets)
Security
 
Par
(000)
Value
Municipal Bonds Transferred to Tender Option Bond Trusts(j)
Alabama(a) — 5.8%
Black Belt Energy Gas District, RB
 
Series C, 5.50%, 10/01/54
$
10,407
$ 11,436,464
Series C-1, 5.25%, 02/01/53
 
14,173
15,017,560
Energy Southeast A Cooperative District, RB,
Series B-1, 5.75%, 04/01/54
 
12,450
13,891,539
 
 
40,345,563
Arizona — 1.8%
Salt River Project Agricultural Improvement & Power
District, RB, Series B, 5.00%, 01/01/48
 
11,390
12,276,528
Colorado — 1.5%
City & County of Denver Colorado Airport System
Revenue, Refunding ARB, Series A, AMT, 5.50%,
11/15/53
 
10,098
10,793,695
District of Columbia — 1.8%
District of Columbia Housing Finance Agency, RB, M/F
Housing, Series B-2, 4.10%, 09/01/39
 
1,300
1,282,594
Metropolitan Washington Airports Authority Aviation
Revenue, Refunding ARB, Series A, AMT, 5.00%,
10/01/49
 
11,194
11,445,896
 
 
12,728,490
Florida — 1.4%
City of Fort Lauderdale Florida Water & Sewer Revenue,
RB, Series B, 5.50%, 09/01/53
 
9,060
10,036,239
Georgia — 1.4%
Main Street Natural Gas, Inc., RB, Series C, 5.00%,
09/01/53(a)
 
9,240
9,802,378
Massachusetts — 1.2%
Commonwealth of Massachusetts, GOL, Series D,
5.00%, 10/01/52
 
7,706
8,244,804
Michigan — 0.3%
Michigan State Housing Development Authority, RB, M/F
Housing, Series A, 4.05%, 10/01/48
 
2,339
2,210,881
Missouri — 0.9%
Missouri Housing Development Commission, RB, S/F
Housing, Series E, (FHLMC, FNMA, GNMA), 4.60%,
11/01/49
 
6,360
6,346,499
Nebraska — 0.8%
Nebraska Investment Finance Authority, RB, S/F
Housing, Series E, Sustainability Bonds, (FHLMC,
FNMA, GNMA), 4.80%, 09/01/54
 
5,922
5,925,723
New York — 3.3%
New York City Municipal Water Finance Authority, RB,
Series AA-1, 5.25%, 06/15/52
 
10,980
11,902,377
New York City Transitional Finance Authority, RB,
Series C, 5.25%, 05/01/48
 
10,076
10,989,215
 
 
22,891,592
Oklahoma — 1.3%
Oklahoma Turnpike Authority, RB, 5.50%, 01/01/53
 
8,126
8,900,842
Oregon — 0.9%
Port of Portland Oregon Airport Revenue, Refunding
ARB, Series 29, AMT, Sustainability Bonds, 5.50%,
07/01/48
 
5,620
6,060,974
Security
 
Par
(000)
Value
Pennsylvania — 1.3%
Pennsylvania Turnpike Commission, Refunding RB,
Series B, 5.25%, 12/01/52
$
8,295
$ 8,957,262
Rhode Island — 1.5%
Rhode Island Housing & Mortgage Finance Corp., RB,
S/F Housing, Series 82-A, Sustainability Bonds,
(GNMA), 4.60%, 10/01/49
 
10,234
10,237,152
South Carolina — 1.9%
Patriots Energy Group Financing Agency, Refunding RB,
Series B-1, 5.25%, 02/01/54(a)
 
12,597
13,577,031
Tennessee — 1.8%
Tennessee Energy Acquisition Corp., RB, Series A,
5.00%, 05/01/52(a)
 
11,655
12,372,289
Texas — 6.1%
City of Houston Texas Airport System Revenue,
Refunding ARB, Series A, AMT, Subordinate Lien,
(AGM), 5.25%, 07/01/48
 
13,869
14,709,842
City of San Antonio Texas Electric & Gas Systems
Revenue, Refunding RB, Series A, 5.50%, 02/01/50
 
4,400
4,864,052
Denton Independent School District, GO, (PSF-GTD),
5.00%, 08/15/48
 
9,840
10,554,345
Tarrant County Cultural Education Facilities Finance
Corp., RB, 5.00%, 11/15/51
 
4,041
4,278,301
Texas Water Development Board, RB, 4.80%, 10/15/52
 
7,785
8,109,914
 
 
42,516,454
Wisconsin — 0.4%
Wisconsin Housing & Economic Development Authority
Housing Revenue, RB, M/F Housing
 
Series A, 4.10%, 11/01/43
 
1,342
1,257,408
Series A, 4.45%, 05/01/57
 
1,678
1,571,760
 
 
2,829,168
Total Municipal Bonds Transferred to Tender Option Bond
Trusts — 35.4%
(Cost: $239,621,335)
247,053,564
Total Long-Term Investments — 150.0%
(Cost: $1,017,959,050)
1,048,409,611
 
 
 
 
Shares
 
Short-Term Securities
Money Market Funds — 1.0%
BlackRock Liquidity Funds, MuniCash, Institutional
Shares, 3.19%(k)(l)
 
7,240,624
7,241,348
Total Short-Term Securities — 1.0%
(Cost: $7,241,348)
7,241,348
Total Investments — 151.0%
(Cost: $1,025,200,398)
1,055,650,959
Other Assets Less Liabilities — 0.6%
4,314,343
Liability for TOB Trust Certificates, Including Interest Expense and
Fees Payable — (21.0)%
(146,918,212
)
VMTP Shares at Liquidation Value, Net of Deferred Offering Costs —
(30.6)%
(214,000,000
)
Net Assets Applicable to Common Shares — 100.0%
$   699,047,090
Schedule of Investments
8
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
 
 
(a)
Variable rate security. Interest rate resets periodically. The rate shown is the effective
interest rate as of period end. Security description also includes the reference rate and
spread if published and available.
(b)
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.
(c)
Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-
down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently
in effect.
(d)
Zero-coupon bond.
(e)
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.
(f)
Security is collateralized by municipal bonds or U.S. Treasury obligations.
(g)
Issuer filed for bankruptcy and/or is in default.
(h)
Non-income producing security.
(i)
When-issued security.
(j)
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates
received by the Fund. These bonds serve as collateral in a secured borrowing.
(k)
Affiliate of the Fund.
(l)
Annualized 7-day yield as of period end.
Affiliates
Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2024 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
07/31/24
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
10/31/24
Shares
Held at
10/31/24
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Liquidity Funds, MuniCash, Institutional Shares
$ 3,674,238
$ 3,567,110
(a)
$ —
$ —
$ —
$ 7,241,348
7,240,624
$ 75,258
$ —
 
(a)
Represents net amount purchased (sold).
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. 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 that the Fund has the ability to access for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices included within level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments 
Long-Term Investments 
Municipal Bonds
$ —
$ 801,356,047
$ —
$ 801,356,047
Municipal Bonds Transferred to Tender Option Bond Trusts
—
247,053,564
—
247,053,564
Short-Term Securities 
Money Market Funds
7,241,348
—
—
7,241,348
 
$7,241,348
$1,048,409,611
$—
$1,055,650,959
9
Schedule of Investments (unaudited)(continued)
October 31, 2024
BlackRock MuniHoldings Fund, Inc. (MHD)
 
The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the fair value hierarchy as follows: 
 
Level 1
Level 2
Level 3
Total
Liabilities
TOB Trust Certificates
$—
$(145,992,060
)
$—
$(145,992,060
)
VMTP Shares at Liquidation Value
—
(214,000,000
)
—
(214,000,000
)
 
$—
$(359,992,060
)
$—
$(359,992,060
)
 
Portfolio Abbreviation 
AGC
 Assured Guaranty Corp.
AGM
 Assured Guaranty Municipal Corp.
AGM-CR
 AGM Insured Custodial Receipt
AMT
 Alternative Minimum Tax
ARB
 Airport Revenue Bonds
BAM
 Build America Mutual Assurance Co.
BAM-TCRS
 Build America Mutual Assurance Co. - Transferable
Custodial Receipts
CAB
 Capital Appreciation Bonds
COP
 Certificates of Participation
CR
 Custodian Receipt
FHLMC
 Federal Home Loan Mortgage Corp.
FNMA
 Federal National Mortgage Association
GNMA
 Government National Mortgage Association
GO
 General Obligation Bonds
GOL
 General Obligation Ltd.
GTD
 GTD Guaranteed
M/F
 Multi-Family
NPFGC
 National Public Finance Guarantee Corp.
PSF-GTD
 Permanent School Fund Guaranteed
RB
 Revenue Bond
S/F
 Single-Family
SAB
 Special Assessment Bonds
ST
 Special Tax
TA
 Tax Allocation
Schedule of Investments
10
BlackRock MuniHoldings (NYSE:MHD)
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