BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC.
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 811-08573
Name of Fund: BlackRock MuniHoldings California Quality Fund, Inc. (MUC)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniHoldings
California Quality 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: 07/31/2016
Date of reporting period:
10/31/2015
Item 1 – Schedule of Investments
|
|
|
| Schedule of Investments October 31, 2015 (Unaudited) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California —
103.5% |
|
|
|
|
|
|
|
|
| Corporate — 1.0% |
|
| California Pollution Control Financing Authority, Refunding RB, Waste Management, Inc., Series B-1, AMT,
3.00%, 11/01/25
(a) |
|
$ |
4,025 |
|
|
$ |
4,014,656 |
|
| City of Chula Vista California, Refunding RB, San Diego Gas & Electric, Series A, 5.88%, 2/15/34 |
|
|
2,435 |
|
|
|
2,787,904 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
6,802,560 |
|
| County/City/Special District/School District — 28.3% |
|
| Centinela Valley Union High School District, GO, Election of 2010, Series A, 5.75%, 8/01/41 |
|
|
9,120 |
|
|
|
11,020,426 |
|
| City of Garden Grove California, COP, Series A, Financing Project (AMBAC), 5.50%, 3/01/26 |
|
|
4,040 |
|
|
|
4,056,968 |
|
| County of Kern California, COP, Capital Improvements Projects, Series A (AGC), 6.00%, 8/01/35 |
|
|
3,500 |
|
|
|
4,007,360 |
|
| County of Orange California Sanitation District, COP, Series A, 5.00%, 2/01/35 |
|
|
2,500 |
|
|
|
2,780,700 |
|
| County of San Joaquin California Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A, 6.00%,
3/01/36 |
|
|
2,665 |
|
|
|
3,211,671 |
|
| County of Ventura California Community College District, GO, Election of 2002, Series C, 5.50%, 8/01/18 (b) |
|
|
4,000 |
|
|
|
4,514,080 |
|
| Culver City Redevelopment Finance Authority California, Refunding, Tax Allocation Bonds, Series A (AGM), 5.60%,
11/01/25 |
|
|
3,750 |
|
|
|
3,766,088 |
|
| Fremont Union High School District, GO, Refunding, 4.00%, 8/01/40 |
|
|
5,000 |
|
|
|
5,167,800 |
|
| Garden Grove Unified School District, GO, Election of 2010, Series C, 5.25%, 8/01/40 |
|
|
5,500 |
|
|
|
6,248,220 |
|
| Grossmont Healthcare District, GO, Election of 2006, Series B, 6.13%, 7/15/21 (b) |
|
|
2,000 |
|
|
|
2,527,060 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| County/City/Special District/School District (continued) |
|
| Kern Community College District, GO, Safety Repair & Improvements, Series C: |
|
|
|
|
|
|
|
|
| 5.25%, 11/01/32 |
|
$ |
5,715 |
|
|
$ |
6,659,175 |
|
| 5.75%, 11/01/34 |
|
|
12,085 |
|
|
|
14,588,287 |
|
| Los Alamitos Unified School District, GO, Refunding, School Facilities Improvement, Series E,
5.25%, 8/01/39 |
|
|
3,700 |
|
|
|
4,225,141 |
|
| Los Rios Community College District, GO, Election of 2008, Series A, 5.00%, 8/01/35 |
|
|
11,000 |
|
|
|
12,617,440 |
|
| Mount San Jacinto Community College District, GO, Series A, 5.00%, 8/01/35 |
|
|
3,565 |
|
|
|
4,063,494 |
|
| Oxnard Union High School District, GO, Refunding, Election of 2004, Series A (AGM), 5.00%, 8/01/35 |
|
|
10,000 |
|
|
|
10,953,600 |
|
| Redlands Unified School District California, GO, Election of 2008 (AGM), 5.25%, 7/01/33 |
|
|
5,000 |
|
|
|
5,507,450 |
|
| Rio Elementary School District, GO, Series A,
5.25%, 8/01/40 |
|
|
5,865 |
|
|
|
6,743,166 |
|
| Riverside Community College District, GO, Election of 2004, Series C (b): |
|
|
|
|
|
|
|
|
| 5.00%, 8/01/17 |
|
|
8,910 |
|
|
|
9,610,593 |
|
| (AGM), 5.00%, 8/01/17 |
|
|
8,750 |
|
|
|
9,438,013 |
|
| San Bernardino Community College District, GO, Election of 2002, Series C (AGM),
5.00%, 8/01/16 (b) |
|
|
10,750 |
|
|
|
11,134,313 |
|
| San Diego Regional Building Authority, RB, County Operations Center & Annex, Series A,
5.50%, 2/01/29 |
|
|
905 |
|
|
|
1,021,854 |
|
| San Jose California Financing Authority, LRB, Convention Center Expansion & Renovation Project, Series A: |
|
|
|
|
|
|
|
|
| 5.75%, 5/01/36 |
|
|
2,560 |
|
|
|
2,626,099 |
|
| 5.75%, 5/01/42 |
|
|
4,500 |
|
|
|
5,328,855 |
|
| San Jose California Financing Authority, Refunding LRB, Convention Center Expansion & Renovation Project, Series A, 5.00%,
6/01/39 |
|
|
5,800 |
|
|
|
6,506,382 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
1 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| County/City/Special District/School District (continued) |
|
|
|
|
|
| San Marcos Redevelopment Agency Successor Agency, Refunding, Tax Allocation Bonds, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 10/01/32 |
|
$ |
1,700 |
|
|
$ |
1,959,845 |
|
| 5.00%, 10/01/33 |
|
|
1,125 |
|
|
|
1,293,851 |
|
| Snowline Joint Unified School District, COP, Refunding, Refining Project (AGC), 5.75%, 9/01/38 |
|
|
5,635 |
|
|
|
6,456,301 |
|
| Washington Township Health Care District, GO,
Series B, 5.00%, 8/01/45 (a) |
|
|
2,500 |
|
|
|
2,800,350 |
|
| West Contra Costa California Unified School District, GO: |
|
|
|
|
|
|
|
|
| Election of 2010, Series A (AGM),
5.25%, 8/01/41 |
|
|
5,390 |
|
|
|
6,341,227 |
|
| Election of 2010, Series B,
5.50%, 8/01/39 |
|
|
3,195 |
|
|
|
3,681,630 |
|
| Election of 2012, Series A,
5.50%, 8/01/39 |
|
|
2,500 |
|
|
|
2,880,775 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
183,738,214 |
|
| Education — 4.6% |
|
|
|
|
|
|
|
|
| California Educational Facilities Authority, Refunding RB, 5.25%, 4/01/40 |
|
|
5,730 |
|
|
|
7,651,269 |
|
| California Municipal Finance Authority, RB, Emerson College, 6.00%, 1/01/42 |
|
|
2,750 |
|
|
|
3,284,848 |
|
| Gavilan Joint Community College District, GO, Election of 2004, Series D: |
|
|
|
|
|
|
|
|
| 5.50%, 8/01/31 |
|
|
2,170 |
|
|
|
2,553,938 |
|
| 5.75%, 8/01/35 |
|
|
8,400 |
|
|
|
9,974,076 |
|
| University of California, Refunding RB, 5.00%, 5/15/40 |
|
|
5,430 |
|
|
|
6,213,712 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
29,677,843 |
|
| Health — 15.4% |
|
|
|
|
|
|
|
|
| ABAG Finance Authority for Nonprofit Corps., Refunding RB, Sharp Healthcare, Series B,
6.25%, 8/01/39 |
|
|
6,305 |
|
|
|
7,323,510 |
|
| California Health Facilities Financing Authority, RB: |
|
|
|
|
|
|
|
|
| Children’s Hospital, Series A,
5.25%, 11/01/41 |
|
|
8,000 |
|
|
|
8,916,960 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| Health (continued) |
|
|
|
|
|
| California Health Facilities Financing Authority, RB (continued): |
|
|
|
|
|
|
|
|
| Kaiser Permanente, Series A,
5.25%, 4/01/39 |
|
$ |
7,275 |
|
|
$ |
7,370,593 |
|
| Providence Health Services, Series B,
5.50%, 10/01/39 |
|
|
4,130 |
|
|
|
4,693,993 |
|
| Sutter Health, Series A, 5.25%, 11/15/46 |
|
|
7,500 |
|
|
|
7,762,425 |
|
| Sutter Health, Series B, 6.00%, 8/15/42 |
|
|
9,655 |
|
|
|
11,410,955 |
|
| California Health Facilities Financing Authority, Refunding RB, Series A: |
|
|
|
|
|
|
|
|
| Catholic Healthcare West,
6.00%, 7/01/34 |
|
|
3,700 |
|
|
|
4,239,386 |
|
| Providence Health and Services,
5.00%, 10/01/38 |
|
|
10,970 |
|
|
|
12,391,493 |
|
| St. Joseph Health System,
5.00%, 7/01/37 |
|
|
10,000 |
|
|
|
11,390,100 |
|
| California Statewide Communities Development Authority, RB, Kaiser Permanente, Series B, 5.25%, 3/01/45 |
|
|
12,505 |
|
|
|
12,668,565 |
|
| California Statewide Communities Development Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Kaiser Permanente, Series C, 5.25%, 8/01/31 |
|
|
2,500 |
|
|
|
2,578,300 |
|
| Trinity Health Credit Group Composite Issue, 5.00%, 12/01/41 |
|
|
6,235 |
|
|
|
6,890,922 |
|
| Washington Township Health Care District, GO,
Series B, 5.50%, 8/01/38 |
|
|
1,625 |
|
|
|
1,920,522 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
99,557,724 |
|
| State — 10.1% |
|
|
|
|
|
|
|
|
| State of California, GO: |
|
|
|
|
|
|
|
|
| Various Purposes, 6.00%, 3/01/33 |
|
|
5,000 |
|
|
|
5,992,250 |
|
| Various Purposes, 6.00%, 4/01/38 |
|
|
27,765 |
|
|
|
32,328,178 |
|
| Refunding, 4.00%, 12/01/40 |
|
|
5,625 |
|
|
|
5,740,987 |
|
| State of California Public Works Board, LRB: |
|
|
|
|
|
|
|
|
| Department of Education, Riverside Campus Project, Series B, 6.50%, 4/01/34 |
|
|
3,670 |
|
|
|
4,337,720 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 2 |
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| State (continued) |
|
|
|
|
|
|
|
|
| State of California Public Works Board, LRB (continued): |
|
|
|
|
|
|
|
|
| Various Capital Projects, Series I,
5.50%, 11/01/33 |
|
$ |
2,015 |
|
|
$ |
2,428,277 |
|
| State of California Public Works Board, RB, California State Prisons, Series C, 5.75%, 10/01/31 |
|
|
1,205 |
|
|
|
1,466,569 |
|
| University of California, RB, Limited Project, Series D (NPFGC), 5.00%, 5/15/16 (b) |
|
|
13,000 |
|
|
|
13,463,710 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
65,757,691 |
|
| Transportation — 19.4% |
|
|
|
|
|
|
|
|
| City & County of San Francisco California Airports Commission, ARB, Series E, 6.00%, 5/01/39 |
|
|
9,650 |
|
|
|
11,173,156 |
|
| City & County of San Francisco California Airports Commission, Refunding ARB, AMT: |
|
|
|
|
|
|
|
|
| 2nd Series 34E (AGM), 5.75%, 5/01/24 |
|
|
5,000 |
|
|
|
5,518,500 |
|
| Series A, 5.00%, 5/01/29 |
|
|
6,435 |
|
|
|
7,304,175 |
|
| City of Los Angeles California Department of Airports, ARB, Los Angeles International Airport, Senior Series D, 5.25%,
5/15/29 |
|
|
2,590 |
|
|
|
3,022,996 |
|
| City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport, Series A: |
|
|
|
|
|
|
|
|
| Senior, 5.00%, 5/15/40 |
|
|
5,000 |
|
|
|
5,655,000 |
|
| 5.25%, 5/15/39 |
|
|
5,845 |
|
|
|
6,558,382 |
|
| City of Los Angeles Department of Airports, RB, AMT, Series A, 5.00%, 5/15/40 |
|
|
3,830 |
|
|
|
4,269,531 |
|
| City of San Jose California, Refunding ARB,
Series A-1, AMT: |
|
|
|
|
|
|
|
|
| 5.25%, 3/01/23 |
|
|
3,785 |
|
|
|
4,358,428 |
|
| 6.25%, 3/01/34 |
|
|
1,400 |
|
|
|
1,649,592 |
|
| City of San Jose California, Airport Revenue, RB, AMT, Series A (AMBAC), 5.00%, 3/01/37 |
|
|
10,940 |
|
|
|
11,386,680 |
|
| County of Orange California, ARB,
Series B, 5.75%, 7/01/34 |
|
|
6,345 |
|
|
|
6,842,702 |
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| Transportation (continued) |
|
|
|
|
|
|
|
|
| County of Sacramento California, ARB: |
|
|
|
|
|
|
|
|
| Senior Series A (AGC),
5.50%, 7/01/41 |
|
$ |
8,200 |
|
|
$ |
9,060,754 |
|
| Senior Series B,
5.75%, 7/01/39 |
|
|
2,650 |
|
|
|
2,941,739 |
|
| Senior Series B, AMT (AGM),
5.75%, 7/01/28 |
|
|
13,275 |
|
|
|
14,727,683 |
|
| Senior Series B, AMT (AGM),
5.25%, 7/01/33 |
|
|
18,000 |
|
|
|
19,535,040 |
|
| County of San Bernardino California Transportation Authority, RB, Series A, 5.25%, 3/01/40 |
|
|
4,545 |
|
|
|
5,286,835 |
|
| Los Angeles Harbor Department, RB, Series B, 5.25%, 8/01/34 |
|
|
5,530 |
|
|
|
6,251,997 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
125,543,190 |
|
| Utilities — 24.7% |
|
|
|
|
|
|
|
|
| Anaheim Public Financing Authority, RB, Electric System Distribution Facilities, Series A,
5.38%, 10/01/36 |
|
|
2,200 |
|
|
|
2,579,830 |
|
| City of Los Angeles California Department of Water & Power, RB: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 7/01/44 |
|
|
5,000 |
|
|
|
5,700,850 |
|
| Sub-Series A-2 (AGM), 5.00%, 7/01/35 |
|
|
5,000 |
|
|
|
5,150,850 |
|
| City of Los Angeles California Department of Water & Power, Refunding RB, Series A, 5.25%, 7/01/39 |
|
|
16,000 |
|
|
|
18,320,320 |
|
| City of Los Angeles California Wastewater System, Refunding RB, Sub-Series A, 5.00%, 6/01/28 |
|
|
2,000 |
|
|
|
2,314,860 |
|
| City of San Francisco California Public Utilities Commission Water, RB, Series B,
5.00%, 11/01/30 |
|
|
10,000 |
|
|
|
11,374,200 |
|
| City of San Francisco California Public Utilities Commission Water Revenue, RB,
5.00%, 11/01/39 |
|
|
5,245 |
|
|
|
5,958,110 |
|
| County of Riverside California Public Financing Authority, RB, Capital Facility Project,
5.25%, 11/01/45 |
|
|
10,000 |
|
|
|
11,548,400 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
3 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
Par (000) |
|
|
Value |
|
| California (continued) |
|
|
|
|
|
|
|
|
| Utilities (continued) |
|
|
|
|
|
|
|
|
| County of Sacramento California Sanitation Districts Financing Authority, RB, 5.00%, 12/01/36 |
|
$ |
1,010 |
|
|
$ |
1,035,503 |
|
| Dublin-San Ramon Services District, Refunding RB, 6.00%, 8/01/41 |
|
|
4,000 |
|
|
|
4,762,520 |
|
| East Bay California Municipal Utility District Water System Revenue, Refunding RB (b): |
|
|
|
|
|
|
|
|
| Series A (NPFGC), 5.00%, 6/01/17 |
|
|
6,670 |
|
|
|
7,147,039 |
|
| Sub-Series A (AGM), 5.00%, 6/01/17 |
|
|
10,000 |
|
|
|
10,715,200 |
|
| Sub-Series A (AMBAC), 5.00%, 6/01/17 |
|
|
5,000 |
|
|
|
5,359,400 |
|
| Eastern Municipal Water District, COP, Series H, 5.00%, 7/01/33 |
|
|
2,505 |
|
|
|
2,742,875 |
|
| El Dorado Irrigation District / El Dorado County Water Agency, Refunding RB, Series A (AGM),
5.25%, 3/01/39 |
|
|
10,000 |
|
|
|
11,497,000 |
|
| Imperial Irrigation District, Refunding RB, Electric System, 5.13%, 11/01/38 |
|
|
8,000 |
|
|
|
8,784,320 |
|
| Los Angeles Department of Water, RB, Series A, 5.00%, 7/01/39 |
|
|
4,000 |
|
|
|
4,573,720 |
|
| Los Angeles Department of Water & Power, RB, Series A, 5.38%, 7/01/38 |
|
|
9,375 |
|
|
|
10,492,031 |
|
| San Diego Public Facilities Financing Authority Sewer, Refunding RB, Senior Series A: |
|
|
|
|
|
|
|
|
| 5.25%, 5/15/34 |
|
|
1,060 |
|
|
|
1,201,499 |
|
| 5.25%, 5/15/39 |
|
|
10,000 |
|
|
|
11,334,900 |
|
| San Diego Public Facilities Financing Authority Water, Refunding RB, Series B, 5.50%, 8/01/39 |
|
|
8,000 |
|
|
|
9,157,760 |
|
| San Juan Water District, Refunding RB, San Juan & Citrus Heights, 5.25%, 2/01/33 |
|
|
7,325 |
|
|
|
8,507,621 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
160,258,808 |
|
| Total Municipal Bonds — 103.5% |
|
|
|
671,336,030 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to
Tender Option Bond Trusts (c) |
|
Par
(000) |
|
|
Value |
|
| California —
58.9% |
|
| County/City/Special District/School District — 33.6% |
|
|
|
|
|
| California Health Facilities Financing Authority, RB, Sutter Health, Series A, 5.00%, 8/15/52 |
|
$ |
14,520 |
|
|
$ |
15,869,053 |
|
| County of Alameda California Joint Powers Authority, Refunding LRB (AGM), 5.00%, 12/01/34 |
|
|
13,180 |
|
|
|
14,176,013 |
|
| County of San Luis Obispo Community College District, GO, Refunding, Election of 2014, Series A,
4.00%, 8/01/40 |
|
|
6,585 |
|
|
|
6,707,341 |
|
| Desert Community College District California, GO,
Series C (AGM), 5.00%, 8/01/37 |
|
|
16,530 |
|
|
|
17,569,902 |
|
| Foothill-De Anza Community College District, GO,
Series C, 5.00%, 8/01/40 |
|
|
40,000 |
|
|
|
44,531,600 |
|
| Los Angeles Community College District California,
GO (b): |
|
|
|
|
|
|
|
|
| Election of 2001, Series A (NPFGC),
5.00%, 8/01/17 |
|
|
6,647 |
|
|
|
7,170,116 |
|
| Election of 2001, Series E-1, 5.00%, 8/01/18 |
|
|
11,770 |
|
|
|
13,128,964 |
|
| Election of 2003, Series F-1, 5.00%, 8/01/18 |
|
|
10,000 |
|
|
|
11,154,600 |
|
| Los Angeles Community College District California, GO, Refunding, Election of 2008, Series A,
6.00%, 8/01/19 (b) |
|
|
9,596 |
|
|
|
11,384,458 |
|
| Palomar California Community College District, GO, Election of 2006, Series C, 5.00%, 8/01/44 |
|
|
15,140 |
|
|
|
17,270,652 |
|
| Poway Unified School District, GO, Election of 2002, Improvement District 02, Series 1-B (AGM),
5.00%, 8/01/16
(b) |
|
|
10,000 |
|
|
|
10,357,500 |
|
| San Diego County Water Authority Financing Corp., COP, Refunding, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 5/01/18 (b) |
|
|
2,778 |
|
|
|
3,084,277 |
|
| 5.00%, 5/01/33 |
|
|
13,962 |
|
|
|
15,179,231 |
|
| Southwestern Community College District, GO, Series D, 5.00%, 8/01/44 |
|
|
10,820 |
|
|
|
12,227,033 |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 4 |
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to
Tender Option Bond Trusts (c) |
|
Par
(000) |
|
|
Value |
|
| California
(continued) |
|
| County/City/Special District/School District (continued) |
|
|
|
|
|
| West Valley-Mission Community College District, GO, Election of 2012, Series A,
4.00%, 8/01/40 |
|
$ |
17,000 |
|
|
$ |
17,825,520 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
217,636,260 |
|
| Education — 7.0% |
|
|
|
|
|
|
|
|
| University of California, RB: |
|
|
|
|
|
|
|
|
| Limited Project, Series D (AGM),
5.00%, 5/15/16 (b) |
|
|
8,000 |
|
|
|
8,285,360 |
|
| Series AM, 5.25%, 5/15/44 |
|
|
10,210 |
|
|
|
11,804,598 |
|
| Series O, 5.75%, 5/15/19 (b) |
|
|
11,190 |
|
|
|
13,060,222 |
|
| University of California, Refunding RB: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 11/01/43 |
|
|
6,001 |
|
|
|
6,863,619 |
|
| Series AF, 5.00%, 5/15/39 |
|
|
5,000 |
|
|
|
5,645,200 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
45,658,999 |
|
| Health — 6.6% |
|
|
|
|
|
|
|
|
| California Health Facilities Financing Authority, Refunding RB, Sutter Health, Series A,
5.00%, 8/15/43 (a) |
|
|
19,425 |
|
|
|
21,866,279 |
|
| California Statewide Communities Development Authority, RB, Kaiser Permanente, Series A,
5.00%, 4/01/42 |
|
|
19,070 |
|
|
|
21,082,267 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
42,948,546 |
|
| Transportation — 0.9% |
|
|
|
|
|
|
|
|
| City of Los Angeles California Department of Airports, RB, Senior Revenue, Series A,
AMT,
5.00%, 5/15/40 |
|
|
5,500 |
|
|
|
6,131,180 |
|
| Utilities — 10.8% |
|
|
|
|
|
|
|
|
| City of Los Angeles California Wastewater System, RB, Green Bonds, Series A, 5.00%, 6/01/44 |
|
|
13,790 |
|
|
|
15,788,171 |
|
| Country of San Mateo Community College District, GO, Series A, 5.00%, 9/01/45 |
|
|
17,615 |
|
|
|
20,336,089 |
|
|
|
|
|
|
|
|
|
|
Municipal Bonds Transferred to
Tender Option Bond Trusts (c) |
|
Par
(000) |
|
|
Value |
|
| California
(continued) |
|
| Utilities (continued) |
|
|
|
|
|
|
|
|
| East Bay California Utility District,
5.00%, 6/01/44 |
|
$ |
11,000 |
|
|
$ |
12,520,200 |
|
| East Bay Municipal Utility District, Refunding RB, Sub-Series A (AMBAC),
5.00%, 6/01/17 (b) |
|
|
14,510 |
|
|
|
15,552,979 |
|
| Rancho Water District Financing Authority, Refunding RB, Series A (AGM),
5.00%, 8/01/34 |
|
|
5,008 |
|
|
|
5,496,972 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
69,694,411 |
|
| Total Municipal Bonds Transferred to
Tender Option Bond Trusts — 58.9% |
|
|
|
382,069,396 |
|
Total Long-Term Investments
(Cost — $987,980,723) — 162.4% |
|
|
|
1,053,405,426 |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
| Short-Term Securities |
|
Shares |
|
|
|
|
| BIF California Municipal Money Fund,
0.00% (d)(e) |
|
|
22,669,938 |
|
|
|
22,669,938 |
|
Total Short-Term Securities
(Cost — $22,669,938) — 3.5% |
|
|
|
|
|
|
22,669,938 |
|
| Total Investments (Cost — $1,010,650,661) — 165.9% |
|
|
|
1,076,075,364 |
|
| Other Assets Less Liabilities — 0.2% |
|
|
|
764,050 |
|
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable —
(26.9)% |
|
|
|
(174,310,849 |
) |
| VMTP Shares, at Liquidation Value — (39.2)% |
|
|
|
(254,000,000 |
) |
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
648,528,565 |
|
|
|
|
|
|
|
|
|
|
| * |
|
As of October 31, 2015, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows: |
|
|
|
|
|
| Tax cost |
|
$ |
836,915,988 |
|
|
|
|
|
|
| Gross unrealized appreciation |
|
$ |
66,780,511 |
|
| Gross unrealized depreciation |
|
|
(1,908,139 |
) |
|
|
|
|
|
| Net unrealized appreciation |
|
$ |
64,872,372 |
|
|
|
|
|
|
|
| Notes to Schedule of Investments |
| (a) |
|
When-issued security. |
| (b) |
|
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. |
| (c) |
|
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.
|
| (d) |
|
During the period ended October 31, 2015, investments in issuers considered to be an affiliate of the Fund for purposes of Section 2(a)(3) of the Investment
Company Act of 1940, as amended, were as follows: |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
5 |
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliate |
|
Shares Held
at July 31,
2015 |
|
|
Net
Activity |
|
|
Shares Held
at October 31,
2015 |
|
|
Income |
|
| BIF California Municipal Money Fund |
|
|
505,447 |
|
|
|
22,163,891 |
|
|
|
22,669,338 |
|
|
$ |
1 |
|
| (e) |
|
Represents the current yield as of period end. |
|
|
|
| AGC |
|
Assured Guarantee Corp. |
| AGM |
|
Assured Guaranty Municipal Corp. |
| AMBAC |
|
American Municipal Bond Assurance Corp. |
| AMT |
|
Alternative Minimum Tax (subject to) |
| ARB |
|
Airport Revenue Bonds |
| COP |
|
Certificates of Participation BIF California Municipal Money Fund |
| GO |
|
General Obligation Bonds |
| LRB |
|
Lease Revenue Bonds |
| NPFGC |
|
National Public Finance Guarantee Corp. |
| RB |
|
Revenue Bonds |
|
| Derivative Financial Instruments Outstanding as of Period
End |
Financial Futures Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
Contracts
Short |
|
|
Issue |
|
Expiration |
|
Notional
Value |
|
Unrealized
Appreciation
|
|
| |
(51 |
) |
|
10-Year U.S. Treasury Note |
|
December 2015 |
|
$6,512,063 |
|
$ |
86,501 |
|
| |
(23 |
) |
|
Long U.S. Treasury Bond |
|
December 2015 |
|
$3,598,062 |
|
|
61,474 |
|
| |
(7 |
) |
|
U.S. Ultra Bond |
|
December 2015 |
|
$1,118,250 |
|
|
20,042 |
|
| |
(41 |
) |
|
5-Year U.S. Treasury Note |
|
December 2015 |
|
$4,910,711 |
|
|
54,349 |
|
| |
Total |
|
|
|
|
|
|
|
|
$ |
222,366 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 6 |
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
|
|
|
|
| Schedule of Investments (continued) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
|
| Fair Value Hierarchy as of Period End |
Various inputs are used in determining the fair value of investments. 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) |
| |
• |
|
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 and derivative 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. The significant unobservable inputs used by the Global Valuation
Committee in determining the price for Fair Valued Investments are typically categorized as Level 3.
Changes in valuation
techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of
the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investments 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 investments, refer to the Fund’s most recent financial statements as contained in its annual report.
The following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Assets: |
|
| Investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Long-Term Investments1 |
|
|
|
|
|
$ |
1,053,405,426 |
|
|
|
— |
|
|
$ |
1,053,405,426 |
|
| Short-Term Securities |
|
$ |
22,669,938 |
|
|
|
— |
|
|
|
— |
|
|
|
22,669,938 |
|
|
|
|
|
|
| Total |
|
$ |
22,669,938 |
|
|
$ |
1,053,405,426 |
|
|
|
— |
|
|
$ |
1,076,075,364 |
|
|
|
|
|
|
| 1 See above Schedule
of Investments for values in each sector. |
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Derivative Financial Instruments 1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest Rate Contracts |
|
$ |
222,366 |
|
|
|
— |
|
|
|
— |
|
|
$ |
222,366 |
|
|
1 Derivative
financial instruments are financial futures contracts, which are valued at the unrealized appreciation (depreciation) on the instrument. |
|
For Fund compliance purposes, the
Fund’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment advisor. These definitions may not apply
for purposes of this report, which may combine such sector sub-classifications for reporting ease.
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
7 |
|
|
|
| Schedule of Investments (concluded) |
|
BlackRock MuniHoldings California Quality Fund, Inc. (MUC) |
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 |
|
| Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cash pledged for financial futures contracts |
|
$ |
213,500 |
|
|
|
— |
|
|
— |
|
$ |
213,500 |
|
| Liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOB Trust Certificates |
|
|
— |
|
|
$ |
(174,287,004 |
) |
|
— |
|
|
(174,287,004 |
) |
| VMTP Shares |
|
|
— |
|
|
|
(254,000,000 |
) |
|
— |
|
|
(254,000,000 |
) |
|
|
|
|
|
| Total |
|
$ |
213,500 |
|
|
$ |
(428,287,004 |
) |
|
— |
|
$ |
(428,073,504 |
) |
|
|
|
|
|
During the period ended October 31, 2015, there were no transfers between levels.
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
| 8 |
|
BLACKROCK MUNIHOLDINGS CALIFORNIA QUALITY FUND, INC. |
|
OCTOBER 31, 2015 |
|
|
|
|
|
| Item 2 – |
|
Controls and Procedures |
|
|
| 2(a) – |
|
The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and
Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. |
|
|
| 2(b) – |
|
There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected,
or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
|
|
| Item 3 – |
|
Exhibits |
Certifications – Attached hereto
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
| BlackRock MuniHoldings California Quality Fund, Inc. |
|
|
| By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
|
|
Chief Executive Officer (principal executive officer) of
BlackRock MuniHoldings California Quality Fund, Inc. |
|
|
| Date: |
|
December 22, 2015 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has
been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
| By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
|
|
Chief Executive Officer (principal executive officer) of BlackRock MuniHoldings California Quality Fund, Inc. |
|
|
| Date: |
|
December 22, 2015 |
|
|
| By: |
|
/s/ Neal J. Andrews |
|
|
Neal J. Andrews |
|
|
Chief Financial Officer (principal financial officer) of
BlackRock MuniHoldings California Quality Fund, Inc. |
|
|
| Date: |
|
December 22, 2015 |