BLACKROCK MUNIHOLDINGS FUND II, 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: 811-08215
Name of Fund: BlackRock MuniHoldings Fund II, Inc. (MUH)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniHoldings Fund II, Inc., 55
East 52nd Street, New York, NY 10055
Registrant’s telephone number, including area code: (800) 882-0052,
Option 4
Date of fiscal year end: 04/30/2019
Date of
reporting period: 07/31/2018
Item 1 – Schedule of Investments
|
|
|
| Schedule of Investments (unaudited)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds — 108.8% |
|
|
| Alabama — 1.3% |
|
| County of Jefferson Alabama Sewer, Refunding RB, Sub-Lien, Series D,
6.00%, 10/01/42 |
|
$ |
1,875 |
|
|
$ |
2,151,562 |
|
|
|
|
|
|
|
|
|
|
| Arizona — 1.1% |
|
| City of Phoenix Arizona IDA, RB, Legacy Traditional Schools Projects, Series A, 5.00%, 07/01/46(a) |
|
|
890 |
|
|
|
913,354 |
|
| Salt Verde Financial Corp., RB, Senior, 5.00%, 12/01/37 |
|
|
810 |
|
|
|
960,660 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,874,014 |
|
| California — 13.7% |
|
| Benicia Unified School District, GO, CAB, Series A (NPFGC), 0.00%, 08/01/20(b) |
|
|
2,000 |
|
|
|
1,935,820 |
|
| California Health Facilities Financing Authority, RB: |
|
|
|
|
|
|
|
|
| St. Joseph Health System, Series A, 5.75%, 07/01/39 |
|
|
1,110 |
|
|
|
1,153,268 |
|
| Sutter Health, Series B,
6.00%, 08/15/20(c) |
|
|
1,585 |
|
|
|
1,728,839 |
|
| California Health Facilities Financing Authority, Refunding RB, St. Joseph Health System, Series A,
5.00%, 07/01/33 |
|
|
445 |
|
|
|
496,789 |
|
| California Municipal Finance Authority, RB, Senior, Caritas Affordable Housing, Inc. Projects, S/F Housing,
Series A: |
|
|
|
|
|
|
|
|
| 5.25%, 08/15/39 |
|
|
80 |
|
|
|
87,557 |
|
| 5.25%, 08/15/49 |
|
|
195 |
|
|
|
211,983 |
|
| California Municipal Finance Authority, Refunding RB, Community Medical Centers, Series A,
5.00%, 02/01/42 |
|
|
120 |
|
|
|
132,853 |
|
| California Pollution Control Financing Authority, RB, Poseidon Resources (Channel Side) LP Desalination
Project, AMT, 5.00%, 11/21/45(a) |
|
|
730 |
|
|
|
773,267 |
|
| California Statewide Communities Development Authority, RB, Series A: |
|
|
|
|
|
|
|
|
| John Muir Health, 5.13%, 07/01/19(c) |
|
|
1,090 |
|
|
|
1,126,733 |
|
| Loma Linda University Medical Center,
5.00%, 12/01/46(a) |
|
|
235 |
|
|
|
248,386 |
|
| City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport,
Series A, 5.25%, 05/15/39 |
|
|
400 |
|
|
|
411,160 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| City of Stockton California Public Financing Authority, RB, Delta Water Supply Project, Series A,
6.25%, 10/01/38 |
|
$ |
185 |
|
|
$ |
218,700 |
|
| Golden State Tobacco Securitization Corp., Refunding RB, Tobacco Settlement Asset-Backed Bonds, Series A-1, 5.25%, 06/01/47 |
|
|
540 |
|
|
|
561,389 |
|
| San Diego Unified School District California, GO, CAB, Election of 2008, Series A, 0.00%, 07/01/29(b) |
|
|
2,525 |
|
|
|
1,799,088 |
|
| San Marino Unified School District, GO, Series A (NPFGC), 0.00%, 07/01/19(b) |
|
|
2,070 |
|
|
|
2,043,400 |
|
| State of California, GO, Various Purposes: |
|
|
|
|
|
|
|
|
| 6.50%, 04/01/19(c) |
|
|
3,965 |
|
|
|
4,103,180 |
|
| 6.00%, 03/01/33 |
|
|
1,265 |
|
|
|
1,352,120 |
|
| 6.50%, 04/01/33 |
|
|
3,360 |
|
|
|
3,469,805 |
|
| State of California Public Works Board, LRB, Various Capital Projects: |
|
|
|
|
|
|
|
|
| Series I, 5.00%, 11/01/38 |
|
|
405 |
|
|
|
454,276 |
|
| Sub-Series I-1,
6.38%, 11/01/19(c) |
|
|
600 |
|
|
|
637,224 |
|
| Tobacco Securitization Authority of Southern California, Refunding RB, Tobacco Settlement, Asset-Backed,
Senior Series A-1, 4.75%, 06/01/25 |
|
|
670 |
|
|
|
673,605 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,619,442 |
|
| Colorado — 1.5% |
|
| Colorado Educational & Cultural Facilities Authority, RB, Charter School, Colorado Springs,
5.50%, 07/01/40 |
|
|
1,055 |
|
|
|
1,089,351 |
|
| Regional Transportation District, COP, Refunding, Series A, 5.38%, 06/01/31 |
|
|
510 |
|
|
|
540,013 |
|
| University of Colorado, RB, Series A,
5.38%, 06/01/19(c) |
|
|
920 |
|
|
|
949,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,578,657 |
|
| Connecticut — 0.2% |
|
| Connecticut Housing Finance Authority, Refunding RB, S/F Housing,
Sub-Series B-1, 4.00%, 05/15/45 |
|
|
265 |
|
|
|
267,730 |
|
|
|
|
|
|
|
|
|
|
| Delaware — 1.6% |
|
| County of Sussex Delaware, RB, NRG Energy, Inc., Indian River Power LLC Project,
6.00%, 10/01/40 |
|
|
570 |
|
|
|
605,511 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Delaware (continued) |
|
| State of Delaware EDA, RB, Exempt Facilities, Indian River Power LLC Project, 5.38%, 10/01/45 |
|
$ |
2,050 |
|
|
$ |
2,136,735 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,742,246 |
|
| District of Columbia — 3.9% |
|
| Metropolitan Washington Airports Authority, Refunding RB, Dulles Toll Road: |
|
|
|
|
|
|
|
|
| 1st Senior Lien, Series A, 5.00%, 10/01/39 |
|
|
255 |
|
|
|
263,303 |
|
| 1st Senior Lien, Series A, 5.25%, 10/01/44 |
|
|
1,000 |
|
|
|
1,035,060 |
|
| CAB, 2nd Senior Lien, Series B (AGC),
0.00%, 10/01/34(b) |
|
|
10,170 |
|
|
|
5,336,199 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,634,562 |
|
| Florida — 4.4% |
|
| City of Clearwater Florida Water & Sewer Revenue, RB, Series A, 5.25%, 12/01/19(c) |
|
|
1,725 |
|
|
|
1,808,455 |
|
| City of Tampa Florida, RB, Baycare Health System, Series A, 4.00%, 11/15/46 |
|
|
1,930 |
|
|
|
1,958,313 |
|
| County of Collier Florida Health Facilities Authority, Refunding RB, Series A, 5.00%, 05/01/45 |
|
|
700 |
|
|
|
762,139 |
|
| Mid-Bay Florida Bridge Authority, RB, Springing Lien, Series A,
7.25%, 10/01/21(c) |
|
|
1,525 |
|
|
|
1,769,214 |
|
| Village Community Development District No.10, Special Assessment Bonds, 5.13%, 05/01/43 |
|
|
1,130 |
|
|
|
1,243,090 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,541,211 |
|
| Georgia — 1.9% |
|
| County of Gainesville Georgia & Hall Hospital Authority, Refunding RB, Northeast Georgia Health
System, Inc. Project, Series A (GTD), 5.50%, 08/15/54 |
|
|
270 |
|
|
|
309,101 |
|
| County of Georgia Housing & Finance Authority, RB, S/F Housing, Series A,
4.00%, 12/01/48 |
|
|
240 |
|
|
|
240,166 |
|
| County of Griffin-Spalding Hospital Authority, RB, Revenue Anticipation Certificates,
4.00%, 04/01/42 |
|
|
2,310 |
|
|
|
2,330,143 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Georgia (continued) |
|
| DeKalb Georgia Private Hospital Authority, Refunding RB, Children’s Healthcare,
5.25%, 11/15/39 |
|
$ |
420 |
|
|
$ |
437,178 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,316,588 |
|
| Hawaii — 0.4% |
|
| State of Hawaii Harbor System, RB, Series A, 5.25%, 07/01/30 |
|
|
680 |
|
|
|
721,412 |
|
|
|
|
|
|
|
|
|
|
| Idaho — 1.4% |
|
| County of Power Idaho Industrial Development Corp., RB, FMC Corp. Project, AMT, 6.45%, 08/01/32 |
|
|
2,000 |
|
|
|
2,008,120 |
|
| Idaho Health Facilities Authority, RB, Trinity Health Credit Group, Series A, 5.00%, 12/01/46 |
|
|
390 |
|
|
|
438,504 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,446,624 |
|
| Illinois — 15.5% |
|
| Chicago Board of Education, GO, Series C: |
|
|
|
|
|
|
|
|
| Series H, 5.00%, 12/01/46 |
|
|
240 |
|
|
|
245,374 |
|
| Project, 5.25%, 12/01/35 |
|
|
805 |
|
|
|
837,884 |
|
| Chicago Board of Education, GO, Refunding, Dedicated Revenues: |
|
|
|
|
|
|
|
|
| 5.00%, 12/01/34 |
|
|
240 |
|
|
|
248,861 |
|
| Series D, 5.00%, 12/01/25 |
|
|
435 |
|
|
|
457,859 |
|
| Chicago Board of Education, GO, Refunding Series F, 5.00%, 12/01/24 |
|
|
340 |
|
|
|
357,666 |
|
| City of Chicago Illinois, GO, Project, Series A, 5.00%, 01/01/34 |
|
|
885 |
|
|
|
906,417 |
|
| City of Chicago Illinois, GO, Refunding, Project,
Series A, 5.25%, 01/01/32 |
|
|
2,290 |
|
|
|
2,413,202 |
|
| City of Chicago Illinois, Special Assessment Bonds, Lake Shore East Project, 6.75%, 12/01/32 |
|
|
587 |
|
|
|
590,234 |
|
| City of Chicago Illinois O’Hare International Airport, GARB, 3rd Lien: |
|
|
|
|
|
|
|
|
| Series A, 5.75%, 01/01/21(c) |
|
|
2,100 |
|
|
|
2,293,998 |
|
| Series A, 5.75%, 01/01/39 |
|
|
400 |
|
|
|
433,196 |
|
| Series C, 6.50%, 01/01/21(c) |
|
|
2,935 |
|
|
|
3,257,879 |
|
| City of Chicago Illinois Transit Authority, RB, Sales Tax Receipts, 5.25%, 12/01/40 |
|
|
530 |
|
|
|
565,250 |
|
| County of Cook Illinois Community College District No. 508, GO, City College of Chicago,
5.50%, 12/01/38 |
|
|
410 |
|
|
|
432,792 |
|
| Illinois Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Central Dupage Health, Series B,
5.50%, 11/01/19(c) |
|
|
800 |
|
|
|
838,048 |
|
| Presence Health Network, Series C, 4.00%, 02/15/41 |
|
|
745 |
|
|
|
765,070 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| Illinois Finance Authority, Refunding RB (continued): |
|
|
|
|
|
|
|
|
| Southern Illinois Healthcare Enterprises, Inc., 4.00%, 03/01/35 |
|
$ |
1,290 |
|
|
$ |
1,299,301 |
|
| Metropolitan Pier & Exposition Authority, Refunding RB, McCormick Place Expansion Project: |
|
|
|
|
|
|
|
|
| CAB, Series B (AGM), 0.00%, 06/15/47(b) |
|
|
9,555 |
|
|
|
2,636,702 |
|
| Series B (AGM), 5.00%, 06/15/50 |
|
|
2,230 |
|
|
|
2,311,663 |
|
| Series B-2, 5.00%, 06/15/50 |
|
|
1,260 |
|
|
|
1,283,562 |
|
| Railsplitter Tobacco Settlement Authority,
RB(c): |
|
|
|
|
|
|
|
|
| 5.50%, 06/01/21 |
|
|
230 |
|
|
|
253,175 |
|
| 6.00%, 06/01/21 |
|
|
500 |
|
|
|
557,245 |
|
| State of Illinois, GO: |
|
|
|
|
|
|
|
|
| 5.00%, 02/01/39 |
|
|
810 |
|
|
|
836,698 |
|
| Series A, 5.00%, 04/01/38 |
|
|
1,920 |
|
|
|
1,976,141 |
|
| State of Illinois, RB, Build Illinois, Series B, 5.25%, 06/15/19(c) |
|
|
315 |
|
|
|
325,159 |
|
| University of Illinois, RB, Auxiliary Facilities System, Series A, 5.00%, 04/01/44 |
|
|
520 |
|
|
|
563,347 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
26,686,723 |
|
| Indiana — 4.7% |
|
| City of Valparaiso Indiana, RB, Exempt Facilities, Pratt Paper LLC Project, AMT: |
|
|
|
|
|
|
|
|
| 6.75%, 01/01/34 |
|
|
415 |
|
|
|
483,649 |
|
| 7.00%, 01/01/44 |
|
|
1,000 |
|
|
|
1,172,830 |
|
| Indiana Finance Authority, RB, Series A: |
|
|
|
|
|
|
|
|
| CWA Authority Project, 1st Lien, 5.25%, 10/01/38 |
|
|
1,660 |
|
|
|
1,813,334 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 07/01/44 |
|
|
225 |
|
|
|
239,481 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.00%, 07/01/48 |
|
|
740 |
|
|
|
785,569 |
|
| Private Activity Bond, Ohio River Bridges East End Crossing Project, AMT, 5.25%, 01/01/51 |
|
|
210 |
|
|
|
224,885 |
|
| Sisters of St. Francis Health Services,
5.25%, 11/01/19(c) |
|
|
420 |
|
|
|
439,219 |
|
| Indiana Finance Authority, Refunding RB, Parkview Health System, Series A: |
|
|
|
|
|
|
|
|
| 5.75%, 05/01/19(c) |
|
|
1,360 |
|
|
|
1,402,963 |
|
| 5.75%, 05/01/31 |
|
|
300 |
|
|
|
309,567 |
|
| Indiana Municipal Power Agency, RB, Series B, 6.00%, 01/01/19(c) |
|
|
565 |
|
|
|
575,842 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Indiana (continued) |
|
| Indianapolis Local Public Improvement Bond Bank, RB, Series A, 5.00%, 01/15/40 |
|
$ |
640 |
|
|
$ |
707,872 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,155,211 |
|
| Iowa — 1.1% |
|
| Iowa Finance Authority, Refunding RB, Iowa Fertilizer Co. Project: |
|
|
|
|
|
|
|
|
| Series B, 5.25%, 12/01/50(d) |
|
|
240 |
|
|
|
255,015 |
|
| Midwestern Disaster Area, 5.25%, 12/01/25 |
|
|
940 |
|
|
|
1,003,760 |
|
| Midwestern Disaster Area,
5.88%, 12/01/26(a) |
|
|
210 |
|
|
|
220,691 |
|
| Iowa Student Loan Liquidity Corp., Refunding RB, Student Loan, Senior Series
A-1, AMT, 5.15%, 12/01/22 |
|
|
415 |
|
|
|
432,712 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,912,178 |
|
| Kansas — 0.7% |
|
| Kansas Development Finance Authority, Refunding RB, Adventist Health System/Sunbelt Obligated Group, Series C(c): |
|
|
|
|
|
|
|
|
| 5.75%, 11/15/19 |
|
|
25 |
|
|
|
26,256 |
|
| 5.75%, 11/15/19 |
|
|
1,080 |
|
|
|
1,137,089 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,163,345 |
|
| Kentucky — 0.7% |
|
| Kentucky Economic Development Finance Authority, RB, Catholic Health Initiatives, Series A,
5.25%, 01/01/45 |
|
|
525 |
|
|
|
560,705 |
|
| Kentucky Public Transportation Infrastructure Authority, RB, Downtown Crossing Project, Convertible CAB, 1st
Tier, Series C, 0.00%, 07/01/43(e) |
|
|
635 |
|
|
|
595,237 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,155,942 |
|
| Louisiana — 1.9% |
|
| East Baton Rouge Sewerage Commission, RB, Series A, 5.25%, 02/01/19(c) |
|
|
420 |
|
|
|
428,089 |
|
| New Orleans Aviation Board, RB, Passenger Facility Charge,
Series A, 5.25%, 01/01/41 |
|
|
310 |
|
|
|
322,998 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A: |
|
|
|
|
|
|
|
|
| 5.50%, 05/15/30 |
|
|
510 |
|
|
|
535,995 |
|
| 5.25%, 05/15/31 |
|
|
435 |
|
|
|
464,441 |
|
| 5.25%, 05/15/32 |
|
|
555 |
|
|
|
601,215 |
|
| 5.25%, 05/15/33 |
|
|
600 |
|
|
|
645,276 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Louisiana (continued) |
|
| Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A (continued): |
|
|
|
|
|
|
|
|
| 5.25%, 05/15/35 |
|
$ |
255 |
|
|
$ |
274,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,272,659 |
|
| Maine — 0.1% |
|
| Maine Health & Higher Educational Facilities Authority, RB, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 07/01/19(c) |
|
|
45 |
|
|
|
46,386 |
|
| 5.00%, 07/01/39 |
|
|
105 |
|
|
|
107,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
154,078 |
|
| Maryland — 1.1% |
|
| Maryland EDC, RB, Transportation Facilities Project, Series A, 5.75%, 06/01/20(c) |
|
|
220 |
|
|
|
236,317 |
|
| Maryland EDC, Refunding RB, CNX Marine Terminals, Inc., 5.75%, 09/01/25 |
|
|
390 |
|
|
|
406,251 |
|
| Maryland Health & Higher Educational Facilities Authority, RB, Trinity Health Credit Group, Series
2017, 5.00%, 12/01/46 |
|
|
20 |
|
|
|
22,618 |
|
| Maryland Health & Higher Educational Facilities Authority, Refunding RB, Charlestown Community
Project, 6.25%, 01/01/21(c) |
|
|
1,095 |
|
|
|
1,206,296 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,871,482 |
|
| Massachusetts — 1.9% |
|
| Massachusetts Development Finance Agency, Refunding RB: |
|
|
|
|
|
|
|
|
| Boston University, Series P, 5.45%, 05/15/59 |
|
|
845 |
|
|
|
998,883 |
|
| Covanta Energy Project, Series C, AMT,
5.25%, 11/01/42(a) |
|
|
1,155 |
|
|
|
1,164,240 |
|
| Massachusetts Health & Educational Facilities Authority, Refunding RB, Partners Healthcare System,
Series J1, 5.00%, 07/01/19(c) |
|
|
360 |
|
|
|
371,423 |
|
| Massachusetts HFA, Refunding RB, Series F, AMT, 5.70%, 06/01/40 |
|
|
805 |
|
|
|
811,448 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,345,994 |
|
| Michigan — 5.7% |
|
| City of Detroit Michigan Sewage Disposal System, Refunding RB, Senior Lien, Series A,
5.25%, 07/01/39 |
|
|
2,235 |
|
|
|
2,428,819 |
|
| Eastern Michigan University, RB, Series A, 4.00%, 03/01/47 |
|
|
2,040 |
|
|
|
2,043,162 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Michigan (continued) |
|
| Kalamazoo Hospital Finance Authority, Refunding RB, Bronson Methodist Hospital: |
|
|
|
|
|
|
|
|
| 5.50%, 05/15/20(c) |
|
$ |
380 |
|
|
$ |
404,871 |
|
| 5.50%, 05/15/36 |
|
|
310 |
|
|
|
326,690 |
|
| Michigan Finance Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Detroit Water & Sewage Department Project, Senior Lien, Series
C-1, 5.00%, 07/01/44 |
|
|
455 |
|
|
|
489,403 |
|
| Trinity Health Credit Group, Series A, 4.00%, 12/01/40 |
|
|
1,835 |
|
|
|
1,878,031 |
|
| Michigan State Hospital Finance Authority, Refunding RB, Henry Ford Health System, 5.75%, 11/15/19(c) |
|
|
1,520 |
|
|
|
1,599,344 |
|
| State of Michigan Housing Development Authority, RB, M/F Housing, Series A, 4.05%, 10/01/48 |
|
|
725 |
|
|
|
723,709 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,894,029 |
|
| Minnesota — 0.9% |
|
| City of Minneapolis Minnesota, Refunding RB, Fairview Health Services, Series A, 6.75%, 11/15/18(c) |
|
|
1,540 |
|
|
|
1,563,978 |
|
|
|
|
|
|
|
|
|
|
| Missouri — 0.2% |
|
| Bi-State Development Agency of the Missouri-Illinois Metropolitan
District, Refunding RB, Combined Lien, Series A, 5.00%, 10/01/44 |
|
|
125 |
|
|
|
137,906 |
|
| State of Missouri Health & Educational Facilities Authority, Refunding RB, St. Louis College of
Pharmacy Project, 5.50%, 05/01/43 |
|
|
130 |
|
|
|
139,217 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
277,123 |
|
| New Hampshire — 1.4% |
|
| New Hampshire Health & Education Facilities Authority, Refunding RB, Dartmouth-Hitchcock,
6.00%, 08/01/19(c) |
|
|
1,530 |
|
|
|
1,596,341 |
|
| New Hampshire Housing Finance Authority, RB, Cimarron, Whittier Falls & Marshall (FHA),
4.00%, 07/01/52 |
|
|
800 |
|
|
|
802,816 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,399,157 |
|
| New Jersey — 7.2% |
|
| Casino Reinvestment Development Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| 5.25%, 11/01/39 |
|
|
530 |
|
|
|
568,086 |
|
| 5.25%, 11/01/44 |
|
|
790 |
|
|
|
845,411 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| New Jersey (continued) |
|
| County of Essex New Jersey Improvement Authority, RB, AMT, 5.25%, 07/01/45(a) |
|
$ |
560 |
|
|
$ |
565,650 |
|
| New Jersey EDA, ARB, Continental Airlines, Inc. Project, 5.13%, 09/15/23 |
|
|
1,040 |
|
|
|
1,126,226 |
|
| New Jersey EDA, RB: |
|
|
|
|
|
|
|
|
| Continental Airlines, Inc. Project, AMT,
5.25%, 09/15/29 |
|
|
990 |
|
|
|
1,075,991 |
|
| Series WW, 5.00%, 06/15/36 |
|
|
210 |
|
|
|
224,708 |
|
| New Jersey EDA, Refunding, Special Assessment Bonds, Kapkowski Road Landfill
Project,
5.75%, 04/01/31 |
|
|
1,125 |
|
|
|
1,248,626 |
|
| New Jersey State Turnpike Authority, RB, Series E,
5.00%, 01/01/45 |
|
|
1,355 |
|
|
|
1,501,177 |
|
| New Jersey Transportation Trust Fund Authority, RB: |
|
|
|
|
|
|
|
|
| Transportation Program, Series AA,
5.00%, 06/15/44 |
|
|
610 |
|
|
|
638,920 |
|
| Transportation Program, Series AA,
5.00%, 06/15/44 |
|
|
330 |
|
|
|
348,332 |
|
| Transportation System, Series A,
5.50%, 06/15/41 |
|
|
1,025 |
|
|
|
1,071,894 |
|
| Transportation System, Series B,
5.25%, 06/15/36 |
|
|
1,235 |
|
|
|
1,287,636 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Series A, 5.00%, 06/01/46 |
|
|
770 |
|
|
|
845,830 |
|
| Tobacco Settlement Financing Corp. New Jersey, Refunding RB: |
|
|
|
|
|
|
|
|
| Series A, 5.25%, 06/01/46 |
|
|
200 |
|
|
|
223,942 |
|
| Sub-Series B, 5.00%, 06/01/46 |
|
|
775 |
|
|
|
830,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,402,702 |
|
| New Mexico — 0.6% |
|
| New Mexico Mortgage Finance Authority, RB, S/F Housing, Mortgage Program, Class I, Series B (Ginnie Mae,
Fannie Mae & Freddie Mac), 3.90%, 07/01/48 |
|
|
1,105 |
|
|
|
1,093,409 |
|
|
|
|
|
|
|
|
|
|
| New York — 6.8% |
|
| City of New York Transitional Finance Authority Future Tax Secured, RB, Fiscal 2012, Sub-Series E-1, 5.00%, 02/01/42 |
|
|
740 |
|
|
|
802,101 |
|
| Counties of New York Tobacco Trust IV, Refunding RB, Settlement Pass-Through Turbo, Series A,
6.25%, 06/01/41(a) |
|
|
1,000 |
|
|
|
1,038,010 |
|
| County of Dutchess New York Industrial Development Agency, Refunding RB, Bard College Civic Facility, Series A-1, 5.00%, 08/01/46 |
|
|
555 |
|
|
|
539,804 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| New York (continued) |
|
| County of Westchester New York Healthcare Corp., RB, Senior Lien, Series A, 5.00%, 11/01/44 |
|
$ |
262 |
|
|
$ |
278,633 |
|
| Erie Tobacco Asset Securitization Corp., Refunding RB, Asset-Backed, Series A, 5.00%, 06/01/45 |
|
|
1,020 |
|
|
|
1,011,248 |
|
| Long Island Power Authority, Refunding RB, Electric System, Series A, 5.75%, 04/01/19(c) |
|
|
1,050 |
|
|
|
1,080,482 |
|
| Metropolitan Transportation Authority, RB, Series B, 5.25%, 11/15/38 |
|
|
1,255 |
|
|
|
1,417,422 |
|
| Metropolitan Transportation Authority, Refunding RB, Dedicated Tax Fund, Series B, 5.00%, 11/15/19(c) |
|
|
1,270 |
|
|
|
1,326,883 |
|
| New York Liberty Development Corp., Refunding RB: |
|
|
|
|
|
|
|
|
| 2nd Priority, Bank of America Tower at One Bryant Park Project, Class 3, 6.38%, 07/15/49 |
|
|
615 |
|
|
|
648,062 |
|
| 3 World Trade Center Project, Class 1,
5.00%, 11/15/44(a) |
|
|
1,495 |
|
|
|
1,577,285 |
|
| 3 World Trade Center Project, Class 2,
5.15%, 11/15/34(a) |
|
|
175 |
|
|
|
191,928 |
|
| 3 World Trade Center Project, Class 2,
5.38%, 11/15/40(a) |
|
|
440 |
|
|
|
483,842 |
|
| Port Authority of New York & New Jersey, ARB, Special Project, JFK International Air Terminal LLC
Project, Series 8: |
|
|
|
|
|
|
|
|
| 6.00%, 12/01/36 |
|
|
650 |
|
|
|
709,209 |
|
| 6.00%, 12/01/42 |
|
|
630 |
|
|
|
687,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,791,993 |
|
| North Carolina — 0.2% |
|
| North Carolina Medical Care Commission, Refunding RB, 1st Mortgage, Retirement Facilities Whitestone Project,
Series A, 7.75%, 03/01/21(c) |
|
|
305 |
|
|
|
349,387 |
|
|
|
|
|
|
|
|
|
|
| Ohio — 1.6% |
|
| Buckeye Tobacco Settlement Financing Authority, RB, Asset-Backed, Senior Turbo Term, Series A-2, 5.88%, 06/01/47 |
|
|
1,855 |
|
|
|
1,870,953 |
|
| County of Franklin Ohio, RB, Health Care Facilities Improvement, OPRS Communities Obligation Group, Series A,
6.13%, 07/01/40 |
|
|
350 |
|
|
|
380,782 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Ohio (continued) |
|
| State of Ohio, RB, Portsmouth Bypass Project, AMT, 5.00%, 06/30/53 |
|
$ |
420 |
|
|
$ |
457,288 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,709,023 |
|
| Oklahoma — 0.9% |
|
| Oklahoma Development Finance Authority, RB, OU Medicine Project, Series B, 5.50%, 08/15/57 |
|
|
625 |
|
|
|
710,169 |
|
| Oklahoma Turnpike Authority, RB, 2nd Series C, 4.00%, 01/01/42 |
|
|
885 |
|
|
|
916,984 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,627,153 |
|
| Pennsylvania — 4.5% |
|
| City of Philadelphia Pennsylvania Hospitals & Higher Education Facilities Authority, RB, Temple
University Health System, Series A,
5.63%, 07/01/42 |
|
|
335 |
|
|
|
361,706 |
|
| Commonwealth Financing Authority, RB, Tobacco Master Settlement Payment: |
|
|
|
|
|
|
|
|
| 5.00%, 06/01/33 |
|
|
110 |
|
|
|
123,522 |
|
| 5.00%, 06/01/34 |
|
|
195 |
|
|
|
218,283 |
|
| 5.00%, 06/01/35 |
|
|
365 |
|
|
|
406,975 |
|
| County of Montgomery Higher Education & Health Authority, Refunding RB, Thomas Jefferson University,
Series A: |
|
|
|
|
|
|
|
|
| 4.00%, 09/01/49 |
|
|
470 |
|
|
|
469,986 |
|
| 4.00%, 09/01/38 |
|
|
1,600 |
|
|
|
1,617,184 |
|
| Pennsylvania Economic Development Financing Authority, RB: |
|
|
|
|
|
|
|
|
| American Water Co. Project, 6.20%, 04/01/39 |
|
|
1,830 |
|
|
|
1,881,606 |
|
| AMT, 5.00%, 06/30/42 |
|
|
440 |
|
|
|
477,963 |
|
| Pennsylvania Economic Development Financing Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| National Gypsum Co., AMT, 5.50%, 11/01/44 |
|
|
800 |
|
|
|
843,536 |
|
| Series A, 4.00%, 11/15/42 |
|
|
130 |
|
|
|
131,301 |
|
| Pennsylvania Turnpike Commission, RB, Series A, 5.00%, 12/01/44 |
|
|
585 |
|
|
|
641,371 |
|
| State Public School Building Authority, Refunding RB, The School District of Philadelphia Project, Series A,
5.00%, 06/01/34 |
|
|
550 |
|
|
|
610,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,784,258 |
|
| Puerto Rico — 1.1% |
|
| Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds: |
|
|
|
|
|
|
|
|
| 5.50%, 05/15/39 |
|
|
975 |
|
|
|
981,357 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Puerto Rico (continued) |
|
| Children’s Trust Fund, Refunding RB, Tobacco Settlement Asset-Backed Bonds (continued): |
|
|
|
|
|
|
|
|
| 5.63%, 05/15/43 |
|
$ |
925 |
|
|
$ |
933,066 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,914,423 |
|
| Rhode Island — 2.2% |
|
| Tobacco Settlement Financing Corp., Refunding RB: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 06/01/35 |
|
|
420 |
|
|
|
452,143 |
|
| Series B, 4.50%, 06/01/45 |
|
|
1,375 |
|
|
|
1,400,025 |
|
| Series B, 5.00%, 06/01/50 |
|
|
1,895 |
|
|
|
1,977,243 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,829,411 |
|
| South Carolina — 3.9% |
|
| South Carolina Ports Authority, ARB, AMT,
5.00%, 07/01/48 |
|
|
230 |
|
|
|
258,683 |
|
| State of South Carolina Ports Authority, ARB: |
|
|
|
|
|
|
|
|
| 5.25%, 07/01/20(c) |
|
|
1,650 |
|
|
|
1,760,137 |
|
| AMT, 5.25%, 07/01/55 |
|
|
670 |
|
|
|
743,164 |
|
| State of South Carolina Public Service Authority, RB, Santee Cooper, Series A, 5.50%, 12/01/54 |
|
|
2,040 |
|
|
|
2,221,948 |
|
| State of South Carolina Public Service Authority, Refunding RB, Series E, 5.25%, 12/01/55 |
|
|
1,635 |
|
|
|
1,767,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,751,907 |
|
| Tennessee — 0.7% |
|
| City of Chattanooga Health Educational & Housing Facility Board, RB, Catholic Health Initiatives,
Series A, 5.25%, 01/01/45 |
|
|
720 |
|
|
|
768,967 |
|
| County of Nashville & Davidson Metropolitan Government Health & Educational Facilities
Board, RB, Vanderbilt University Medical Center, Series A, 5.00%, 07/01/40 |
|
|
360 |
|
|
|
397,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,166,526 |
|
| Texas — 6.0% |
|
| Central Texas Regional Mobility Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Senior Lien, 6.25%, 01/01/21(c) |
|
|
1,070 |
|
|
|
1,178,755 |
|
| Sub-Lien, 5.00%, 01/01/33 |
|
|
180 |
|
|
|
193,617 |
|
| City of Austin Texas Airport System, ARB, AMT, 5.00%, 11/15/39 |
|
|
320 |
|
|
|
350,640 |
|
| City of Houston Texas Airport System, Refunding ARB, Senior Lien, Series A, 5.50%, 07/01/39 |
|
|
535 |
|
|
|
536,129 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| County of Harris Texas Cultural Education Facilities Finance Corp., RB, 1st Mortgage, Brazos Presbyterian
Homes, Inc. Project, Series B, 7.00%, 01/01/23(c) |
|
$ |
240 |
|
|
$ |
289,210 |
|
| County of Harris Texas Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System,
Series B,
7.25%, 12/01/18(c) |
|
|
1,380 |
|
|
|
1,406,910 |
|
| County of Midland Texas Fresh Water Supply District No. 1, RB, CAB, City of Midland Project, Series A(b): |
|
|
|
|
|
|
|
|
| 0.00%, 09/15/40 |
|
|
2,525 |
|
|
|
960,838 |
|
| 0.00%, 09/15/41 |
|
|
1,395 |
|
|
|
502,577 |
|
| Howe Independent School District, GO, School Building (PSF-GTD),
4.00%, 08/15/43 |
|
|
1,090 |
|
|
|
1,113,271 |
|
| La Vernia Higher Education Finance Corp., RB, Kipp, Inc., Series A, 6.38%, 08/15/19(c) |
|
|
320 |
|
|
|
335,466 |
|
| New Hope Cultural Education Facilities Corp., RB, Collegiate Housing Tarleton State University Project,
5.00%, 04/01/35 |
|
|
145 |
|
|
|
156,925 |
|
| North Texas Tollway Authority, RB, CAB, Special Project System, Series B, 0.00%, 09/01/31(b)(c) |
|
|
1,015 |
|
|
|
435,110 |
|
| Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien: |
|
|
|
|
|
|
|
|
| LBJ Infrastructure Group LLC, 7.00%, 06/30/40 |
|
|
1,165 |
|
|
|
1,262,207 |
|
| NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project,
6.88%, 12/31/39 |
|
|
1,300 |
|
|
|
1,380,171 |
|
| Texas Water Development Board, RB, State Water Implementation Fund, Series A, 4.00%, 10/15/45 |
|
|
245 |
|
|
|
251,786 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,353,612 |
|
| Virginia — 1.1% |
|
| Virginia Small Business Financing Authority, RB, Senior Lien, Elizabeth River Crossings OpCo LLC Project,
AMT: |
|
|
|
|
|
|
|
|
| 5.25%, 01/01/32 |
|
|
400 |
|
|
|
430,844 |
|
| 6.00%, 01/01/37 |
|
|
1,345 |
|
|
|
1,487,678 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,918,522 |
|
| Washington — 1.0% |
|
| Port of Seattle Washington, RB, Intermediate Lien, Series C, AMT, 5.00%, 04/01/40 |
|
|
390 |
|
|
|
426,687 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Washington (continued) |
|
| Washington Health Care Facilities Authority, RB, Catholic Health Initiatives, Series
A,
5.75%, 01/01/45 |
|
$ |
1,195 |
|
|
$ |
1,307,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,733,802 |
|
| West Virginia — 0.8% |
|
| West Virginia Hospital Finance Authority, RB, Improvement West Virginia University Health System Obligated
Group, Series A,
4.00%, 06/01/51 |
|
|
1,450 |
|
|
|
1,440,488 |
|
|
|
|
|
|
|
|
|
|
| Wisconsin — 2.9% |
|
| State of Wisconsin, Refunding RB, Series A,
6.00%, 05/01/19(c) |
|
|
3,620 |
|
|
|
3,742,428 |
|
| State of Wisconsin Health & Educational Facilities Authority, RB, Ascension Health Senior Credit
Group, Series E, 5.00%, 11/15/33 |
|
|
1,235 |
|
|
|
1,282,091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,024,519 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds — 108.8%
(Cost — $174,462,155) |
|
|
|
187,637,082 |
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts(f) |
|
|
| Arizona — 0.5% |
|
| County of Maricopa Industrial Development Authority, RB, Banner Health, Series A,
4.00%, 01/01/41 |
|
|
915 |
|
|
|
943,476 |
|
|
|
|
|
|
|
|
|
|
| California — 8.9% |
|
| Bay Area Toll Authority, Refunding RB, San Francisco Bay Area: |
|
|
|
|
|
|
|
|
| Toll Bridge, 4.00%, 04/01/42(g) |
|
|
1,638 |
|
|
|
1,717,152 |
|
| Series F-1, 5.63%, 04/01/19(c) |
|
|
1,640 |
|
|
|
1,687,663 |
|
| California Educational Facilities Authority, RB, University of Southern California, Series B, 5.25%, 10/01/18(c)(g) |
|
|
1,335 |
|
|
|
1,343,200 |
|
| City & County of San Francisco California Public Utilities Commission, RB, Water Revenue,
Series B, 5.00%, 11/01/19(c) |
|
|
4,770 |
|
|
|
4,981,231 |
|
| City of Los Angeles California Department of Airports, Refunding ARB, Los Angeles International Airport,
Senior Series A,
5.00%, 05/15/40 |
|
|
2,967 |
|
|
|
3,129,854 |
|
| Sacramento Area Flood Control Agency, Refunding, Consolidated Capital Assessment District No. 2 Bonds,
5.00%, 10/01/47 |
|
|
1,635 |
|
|
|
1,856,981 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| San Diego California Community College District, GO, Election of 2002, 5.25%, 08/01/19(c) |
|
$ |
553 |
|
|
$ |
574,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,290,516 |
|
| Colorado — 1.8% |
|
| Colorado Health Facilities Authority, Refunding RB, Catholic Health Initiatives, Series A,
5.50%, 07/01/34(g) |
|
|
1,080 |
|
|
|
1,107,621 |
|
| County of Adams Colorado, COP, Refunding, 4.00%, 12/01/45 |
|
|
1,950 |
|
|
|
1,989,507 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,097,128 |
|
| Florida — 2.6% |
|
| County of Miami-Dade Florida, RB, Water & Sewer System, 5.00%, 10/01/20(c) |
|
|
2,840 |
|
|
|
3,038,326 |
|
| South Miami Health Facilities Authority, Refunding RB, Baptist Health South Florida,
5.00%, 08/15/47 |
|
|
1,290 |
|
|
|
1,448,291 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,486,617 |
|
| Georgia — 1.0% |
|
| Private Colleges & Universities Authority, Refunding RB, Emory University, Series C,
5.00%, 09/01/18(c) |
|
|
1,649 |
|
|
|
1,654,340 |
|
|
|
|
|
|
|
|
|
|
| Louisiana — 0.7% |
|
| County of St. Louisiana Gasoline & Fuels Tax Revenue, Refunding RB, First Lien, Series A,
4.00%, 05/01/41 |
|
|
1,245 |
|
|
|
1,279,051 |
|
|
|
|
|
|
|
|
|
|
| Maryland — 2.2% |
|
| City of Baltimore Maryland Water Utility Fund, RB, Wastewater Project, Series A, 5.00%, 07/01/46 |
|
|
1,515 |
|
|
|
1,715,877 |
|
| State of Maryland Stadium Authority Revenue, RB, Construction and Revitalization
Program,
5.00%, 05/01/42 |
|
|
1,740 |
|
|
|
1,993,883 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,709,760 |
|
| Massachusetts — 3.3% |
|
| Commonwealth of Massachusetts, GO, Series A, 5.00%, 01/01/46 |
|
|
1,982 |
|
|
|
2,261,287 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Massachusetts (continued) |
|
| Massachusetts School Building Authority, RB, Senior, Series B, 5.00%, 10/15/41 |
|
$ |
3,211 |
|
|
$ |
3,457,474 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,718,761 |
|
| Nevada — 1.5% |
|
| County of Clark Nevada, GO, Stadium Improvement, Series A, 5.00%, 05/01/48 |
|
|
2,260 |
|
|
|
2,579,364 |
|
|
|
|
|
|
|
|
|
|
| New Hampshire — 0.6% |
|
| New Hampshire Health & Education Facilities Authority, RB, Dartmouth College, 5.25%, 06/01/19(c)(g) |
|
|
1,020 |
|
|
|
1,050,962 |
|
|
|
|
|
|
|
|
|
|
| New York — 11.7% |
|
| City of New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd General
Resolution, Series FF-2, 5.50%, 06/15/40 |
|
|
810 |
|
|
|
836,409 |
|
| City of New York Transitional Finance Authority, BARB: |
|
|
|
|
|
|
|
|
| Fiscal 2009, Series S-3, 5.25%, 01/15/39 |
|
|
3,299 |
|
|
|
3,352,486 |
|
| Series S-1, 4.00%, 07/15/42(g) |
|
|
1,395 |
|
|
|
1,422,072 |
|
| Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 02/15/47(g) |
|
|
810 |
|
|
|
885,757 |
|
| Metropolitan Transportation Authority, Refunding RB, Series C-1,
5.25%, 11/15/56 |
|
|
2,337 |
|
|
|
2,636,137 |
|
| New York Liberty Development Corp., ARB, 1 World Trade Center Port Authority Consolidated Bonds,
5.25%, 12/15/43 |
|
|
5,400 |
|
|
|
5,911,931 |
|
| New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51(g) |
|
|
3,250 |
|
|
|
3,610,894 |
|
| Port Authority of New York & New Jersey, Refunding ARB, 194th Series, 5.25%, 10/15/55 |
|
|
1,350 |
|
|
|
1,537,740 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,193,426 |
|
| North Carolina — 1.3% |
|
| North Carolina Capital Facilities Finance Agency, Refunding RB: |
|
|
|
|
|
|
|
|
| Duke University Project, Series B, 5.00%, 10/01/55 |
|
|
1,320 |
|
|
|
1,481,231 |
|
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| North Carolina (continued) |
|
| North Carolina Capital Facilities Finance Agency, Refunding RB (continued): |
|
|
|
|
|
|
|
|
| Wake Forest University, 5.00%, 01/01/19(c) |
|
$ |
800 |
|
|
$ |
811,916 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,293,147 |
|
| Ohio — 4.1% |
|
| State of Ohio, Refunding RB, Cleveland Clinic Health System Obligated Group, Series A, 5.50%, 01/01/19(c) |
|
|
6,974 |
|
|
|
7,092,454 |
|
|
|
|
|
|
|
|
|
|
| Pennsylvania — 1.7% |
|
| Commonwealth of Pennsylvania, GO, 1st Series, 4.00%, 03/01/36(g) |
|
|
1,559 |
|
|
|
1,606,649 |
|
| Pennsylvania Turnpike Commission, RB, Sub-Series A,
5.50%, 12/01/42 |
|
|
1,229 |
|
|
|
1,403,928 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,010,577 |
|
| Texas — 8.0% |
|
| City of Houston Texas Community College, GO, Limited Tax, 4.00%, 02/15/43 |
|
|
1,395 |
|
|
|
1,420,487 |
|
| City of San Antonio Texas Electric and Gas Systems, RB, Junior Lien, 5.00%, 02/01/43 |
|
|
1,260 |
|
|
|
1,375,655 |
|
| County of Harris Texas, RB, Toll Road, Senior Lien, Series A: |
|
|
|
|
|
|
|
|
| 5.00%, 08/15/19(c)(g) |
|
|
1,905 |
|
|
|
1,963,515 |
|
| 5.00%, 08/15/38 |
|
|
1,457 |
|
|
|
1,501,919 |
|
| County of Harris Texas Metropolitan Transit Authority, Refunding RB, Series
A,
5.00%, 11/01/41 |
|
|
1,710 |
|
|
|
1,851,212 |
|
| County of Harris Texas Toll Road Authority, Refunding RB, Senior Lien, Series
A,
5.00%, 08/15/43 |
|
|
1,859 |
|
|
|
2,121,026 |
|
| San Antonio Public Facilities Corp., Refunding RB, Convention Center Refinancing And Expansion Project,
4.00%, 09/15/42 |
|
|
1,499 |
|
|
|
1,522,147 |
|
| University of Texas, Refunding RB, Financing System, Series B, 5.00%, 08/15/43 |
|
|
1,801 |
|
|
|
1,971,923 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,727,884 |
|
| Utah — 0.8% |
|
| City of Riverton Utah, RB, IHC Health Services, Inc., 5.00%, 08/15/19(c) |
|
|
1,395 |
|
|
|
1,443,740 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Virginia — 1.0% |
|
| Virginia Small Business Financing Authority, Refunding RB, Sentara
Healthcare,
5.00%, 11/01/40 |
|
$ |
1,553 |
|
|
$ |
1,633,795 |
|
|
|
|
|
|
|
|
|
|
| Washington — 0.9% |
|
| Washington Health Care Facilities Authority, Refunding RB, Multicare Health System, Series B,
4.13%, 08/15/43 |
|
|
1,445 |
|
|
|
1,481,099 |
|
|
|
|
|
|
|
|
|
|
| Wisconsin — 1.7% |
|
| Wisconsin Health & Educational Facilities Authority, Refunding RB, Froedtert & Community
Health, Inc., Obligated Group, Series C, 5.25%, 04/01/19(c)(g) |
|
|
2,859 |
|
|
|
2,930,651 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds Transferred to Tender Option Bond Trusts — 54.3%
(Cost —
$91,138,451) |
|
|
|
93,616,748 |
|
|
|
|
|
|
|
|
|
|
| Total Long-Term Investments — 163.1%
(Cost — $265,600,606) |
|
|
|
281,253,830 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Shares |
|
|
|
|
| Short-Term Securities — 0.2% |
|
| BlackRock Liquidity Funds, MuniCash, Institutional Class,
0.85%(h)(i) |
|
|
410,167 |
|
|
|
410,249 |
|
|
|
|
|
|
|
|
|
|
| Total Short-Term Securities — 0.2%
(Cost — $410,210) |
|
|
|
410,249 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments — 163.3%
(Cost — $266,010,816) |
|
|
|
281,664,079 |
|
| Other Assets Less Liabilities — 1.2% |
|
|
|
1,956,141 |
|
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable —
(32.6)% |
|
|
|
(56,188,228 |
) |
| VMTP Shares at Liquidation Value — (31.9)% |
|
|
|
(55,000,000 |
) |
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
172,431,992 |
|
|
|
|
|
|
|
|
|
|
| (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. |
| (c) |
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. |
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH) |
| (d) |
Variable or floating rate security, which interest rate adjusts periodically based on changes in current interest rates
and prepayments on the underlying pool of assets. Rate shown is the rate in effect as of period end. |
| (e) |
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. |
| (f) |
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. |
| (g) |
All or a portion of 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 October 1, 2018 to February 15, 2031, is $11,751,942. |
| (h) |
Annualized 7-day yield as of period end. |
| (i) |
During the period ended July 31, 2018, investments in issuers considered to be affiliate of the Fund for purposes of
Section 2(a)(3) of the Investment Company Act of 1940, as amended, and/or related parties of the Fund were as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliate |
|
Shares
Held at
04/30/18 |
|
|
Net
Activity |
|
|
Shares
Held at
07/31/18 |
|
|
Value at
07/31/18 |
|
|
Income |
|
|
Net
Realized
Gain (Loss) (a) |
|
|
Change in
Unrealized
Appreciation
(Depreciation) |
|
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
|
|
978,065 |
|
|
|
(567,898 |
) |
|
|
410,167 |
|
|
$ |
410,249 |
|
|
$ |
1,921 |
|
|
$ |
220 |
|
|
$ |
39 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(a) |
Includes net capital gain distributions, if applicable. |
|
Portfolio Abbreviations
|
|
|
| AGC |
|
Assured Guarantee Corp. |
| AGM |
|
Assured Guaranty Municipal Corp. |
| AMT |
|
Alternative Minimum Tax (subject to) |
| ARB |
|
Airport Revenue Bonds |
| BARB |
|
Building Aid Revenue Bonds |
| CAB |
|
Capital Appreciation Bonds |
| COP |
|
Certificates of Participation |
| EDA |
|
Economic Development Authority |
| EDC |
|
Economic Development Corp. |
| FHA |
|
Federal Housing Administration |
| GARB |
|
General Airport Revenue Bonds |
| GO |
|
General Obligation Bonds |
| GTD |
|
Guaranteed |
| HFA |
|
Housing Finance Agency |
| IDA |
|
Industrial Development Authority |
| LRB |
|
Lease Revenue Bonds |
| M/F |
|
Multi-Family |
| NPFGC |
|
National Public Finance Guarantee Corp. |
| PSF |
|
Permanent School Fund |
| RB |
|
Revenue Bonds |
| S/F |
|
Single-Family |
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
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 |
|
|
9 |
|
|
|
09/19/18 |
|
|
$ |
1,075 |
|
|
$ |
7,363 |
|
| Long U.S. Treasury Bond |
|
|
54 |
|
|
|
09/19/18 |
|
|
|
7,720 |
|
|
|
26,204 |
|
| 5-Year U.S. Treasury Note |
|
|
13 |
|
|
|
09/28/18 |
|
|
|
1,471 |
|
|
|
3,120 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
36,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value Hierarchy as of Period End
Various
inputs are used in determining the fair value of investments and derivative 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 each
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 each 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. Investments classified within
Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (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. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.
Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with each 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 and derivative financial instruments is based on the pricing
transparency of the investments and derivative 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 investments and
derivative financial instruments, refer to the Fund’s most recent financial statements as contained in its annual report.
|
|
|
| Schedule of Investments (unaudited) (continued)
July 31, 2018 |
|
BlackRock MuniHoldings Fund II, Inc. (MUH) |
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 Investments(a) |
|
$ |
— |
|
|
$ |
281,253,830 |
|
|
$ |
— |
|
|
$ |
281,253,830 |
|
| Short-Term Securities |
|
|
410,249 |
|
|
|
— |
|
|
|
— |
|
|
|
410,249 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
410,249 |
|
|
$ |
281,253,830 |
|
|
$ |
— |
|
|
$ |
281,664,079 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative Financial
Instruments(b) |
|
| Assets: |
|
| Interest rate contracts |
|
$ |
36,687 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
36,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(a) |
See above Schedule of Investments for values in each state or political subdivision. |
|
| |
(b) |
Derivative financial instruments are futures contracts which 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 |
|
$ |
— |
|
|
$ |
(56,052,444 |
) |
|
$ |
— |
|
|
$ |
(56,052,444 |
) |
| VMTP Shares at Liquidation Value |
|
|
— |
|
|
|
(55,000,000 |
) |
|
|
— |
|
|
|
(55,000,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
(111,052,444 |
) |
|
$ |
— |
|
|
$ |
(111,052,444 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the period ended July 31, 2018, there were no transfers between levels.
| 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. |
| |
Certifications – Attached hereto |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
| BlackRock MuniHoldings Fund II, Inc. |
|
|
| By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
Chief Executive Officer (principal
executive officer) of
BlackRock MuniHoldings Fund II, Inc.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has
been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
|
|
| By: |
|
/s/ John M. Perlowski |
|
|
John M. Perlowski |
Chief Executive Officer (principal
executive officer) of
BlackRock MuniHoldings Fund II, Inc.
|
|
|
|
|
| By: |
|
/s/ Neal J. Andrews |
|
|
Neal J. Andrews |
Chief Financial Officer (principal financial
officer) of
BlackRock MuniHoldings Fund II, Inc.