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 811-7478
Name of Fund: MuniVest Fund II, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, MuniVest Fund II, Inc., 800 Scudders Mill Road, Plainsboro, NJ
08536. Mailing address: P.O. Box 9011, Princeton, NJ 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 10/31/2006
Date of reporting period: 05/01/06 - 07/31/06
Item 1 - Schedule of Investments
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
Alabama - 2.7% $ 5,000 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series B, 5.75% due
6/01/2032 $ 5,317
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2,900 Tuscaloosa, Alabama, Special Care Facilities Financing Authority, Residential Care
Facility Revenue Bonds (Capstone Village, Inc. Project) Series A, 5.875% due
8/01/2036 2,917
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Arizona - 3.4% 1,000 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project 1), Series A, 6.75% due 7/01/2029 995
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2,315 Maricopa County, Arizona, Tempe Elementary Unified School District Number 3, GO,
Refunding, 7.50% due 7/01/2010 (d) 2,619
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2,000 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project),
Series C, 6.75% due 7/01/2031 2,081
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960 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter Schools
Project II), Series A, 6.75% due 7/01/2021 1,009
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3,465 Salt River Project, Arizona, Agriculture Improvement and Power District, Electric
System Revenue Bonds, Series A, 5% due 1/01/2037 3,591
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California - 7.2% 6,300 California Health Facilities Financing Authority Revenue Bonds (Kaiser Permanente),
Series A, 5.25% due 4/01/2039 6,498
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315 California State, GO, 5.50% due 4/01/2014 (j) 349
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470 California State, GO, 5.50% due 4/01/2014 (j) 521
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2,985 California State, GO, 5.50% due 4/01/2028 3,227
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3,675 California State, GO, 5.50% due 4/01/2030 3,960
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6,010 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-3, 7.875% due 6/01/2042 7,211
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Colorado - 3.7% 225 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2, 7.50%
due 4/01/2031 232
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3,025 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee),
Series A, 7.35% due 9/01/2031 3,201
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930 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee),
Series B, 7% due 9/01/2031 953
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1,325 North Range, Colorado, Metropolitan District Number 1, GO, 7.25% due 12/15/2031 1,420
------------------------------------------------------------------------------------------------------------
3,300 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public
Improvement Fees), 8% due 12/01/2025 3,624
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820 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds (Public
Improvement Fees), 8.125% due 12/01/2025 822
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1,000 Southlands, Colorado, Medical District, GO (Metropolitan District Number 1), 7% due
12/01/2024 1,095
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Portfolio Abbreviations
To simplify the listings of MuniVest Fund II, Inc.'s portfolio holdings in the
Schedule of Investments, we have abbreviated the names of many of the securities
according to the list below.
AMT Alternative Minimum Tax (subject to)
DRIVERS Derivative Inverse Tax-Exempt Receipts
EDA Economic Development Authority
GO General Obligation Bonds
HDA Housing Development Authority
HFA Housing Finance Agency
IDA Industrial Development Authority
IDB Industrial Development Board
IDR Industrial Development Revenue Bonds
M/F Multi-Family
PCR Pollution Control Revenue Bonds
RIB Residual Interest Bonds
S/F Single-Family
VRDN Variable Rate Demand Notes
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
Connecticut - 1.2% $ 1,165 Connecticut State Development Authority, Airport Facility Revenue Bonds (Learjet Inc.
Project), AMT, 7.95% due 4/01/2026 $ 1,381
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2,000 Mohegan Tribe Indians Gaming Authority, Connecticut, Public Improvement Revenue
Refunding Bonds (Priority Distribution), 6.25% due 1/01/2031 2,125
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Delaware - 0.3% 1,000 New Castle County, Delaware, PCR (General Motors Corporation Project), VRDN, 7.75%
due 10/01/2008 (l) 1,000
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Florida - 8.4% 2,350 Fiddlers Creek, Florida, Community Development District Number 2, Special Assessment
Revenue Bonds, Series A, 6.375% due 5/01/2035 2,487
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1,250 Fiddlers Creek, Florida, Community Development District Number 2, Special Assessment
Revenue Bonds, Series B, 5.75% due 5/01/2013 1,300
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8,000 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), Series C, 5.25% due 11/15/2036 8,263
------------------------------------------------------------------------------------------------------------
4,000 Midtown Miami, Florida, Community Development District, Special Assessment Revenue
Bonds, Series A, 6.25% due 5/01/2037 4,336
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1,280 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), 5.625% due 11/15/2032 1,356
------------------------------------------------------------------------------------------------------------
1,135 Orlando, Florida, Urban Community Development District, Capital Improvement Special
Assessment Bonds, 6.25% due 5/01/2034 1,210
------------------------------------------------------------------------------------------------------------
1,000 Orlando, Florida, Urban Community Development District, Capital Improvement Special
Assessment Bonds, Series A, 6.95% due 5/01/2033 1,077
------------------------------------------------------------------------------------------------------------
1,250 Palm Coast Park Community Development District, Florida, Special Assessment Revenue
Bonds, 5.70% due 5/01/2037 1,256
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900 Park Place Community Development District, Florida, Special Assessment Revenue Bonds,
6.75% due 5/01/2032 955
------------------------------------------------------------------------------------------------------------
935 Preserve at Wilderness Lake, Florida, Community Development District, Capital
Improvement Bonds, Series A, 7.10% due 5/01/2033 1,016
------------------------------------------------------------------------------------------------------------
2,000 West Villages Improvement District, Florida, Special Assessment Revenue Bonds (Unit
of Development Number 3), 5.50% due 5/01/2037 2,009
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Georgia - 5.8% 2,000 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.90% due
12/01/2024 2,210
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1,225 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage Revenue
Bonds (Coastal Community Retirement Corporation Project), Series A, 7.125% due
1/01/2025 1,209
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1,075 Fulton County, Georgia, Development Authority, PCR (General Motors Corporation),
Refunding, VRDN, 8% due 4/01/2010 (l) 1,075
------------------------------------------------------------------------------------------------------------
2,000 Fulton County, Georgia, Residential Care Facilities, Revenue Refunding Bonds
(Canterbury Court Project), Series A, 6.125% due 2/15/2026 2,081
------------------------------------------------------------------------------------------------------------
5,620 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series W, 6.60%
due 1/01/2018 6,483
------------------------------------------------------------------------------------------------------------
380 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series W, 6.60%
due 1/01/2018 (c) 438
------------------------------------------------------------------------------------------------------------
1,250 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series X, 6.50%
due 1/01/2020 1,457
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1,350 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds (Georgia
College and State University Foundation), 5.50% due 9/01/2024 1,404
------------------------------------------------------------------------------------------------------------
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 1,000 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds (Georgia
College and State University Foundation), 5.625% due 9/01/2030 $ 1,050
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Idaho - 0.1% 185 Idaho Housing Agency, S/F Mortgage Revenue Refunding Bonds, AMT, Series E-2, 6.90%
due 1/01/2027 190
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Illinois - 14.1% 3,000 Chicago, Illinois, O'Hare International Airport, Revenue Refunding Bonds, DRIVERS,
AMT, Series 253, 7.505% due 1/01/2020 (i)(m) 3,383
------------------------------------------------------------------------------------------------------------
4,000 Chicago, Illinois, O'Hare International Airport, Special Facility Revenue Refunding
Bonds (American Airlines Inc. Project), 8.20% due 12/01/2024 4,108
------------------------------------------------------------------------------------------------------------
235 Chicago, Illinois, S/F Mortgage Revenue Bonds, AMT, Series C, 7% due 3/01/2032 (f)(g) 241
------------------------------------------------------------------------------------------------------------
800 Chicago, Illinois, Special Assessment Bonds (Lake Shore East), 6.75% due 12/01/2032 860
------------------------------------------------------------------------------------------------------------
1,000 Chicago, Illinois, Tax Allocation Bonds (Kingsbury Redevelopment Project), Series A,
6.57% due 2/15/2013 1,039
------------------------------------------------------------------------------------------------------------
2,800 Hodgkins, Illinois, Environmental Improvement Revenue Bonds (Metro Biosolids
Management LLC Project), AMT, 6% due 11/01/2023 2,925
------------------------------------------------------------------------------------------------------------
1,000 Illinois Development Finance Authority Revenue Bonds (Community Rehabilitation
Providers Facilities), Series A, 6.50% due 7/01/2022 1,075
------------------------------------------------------------------------------------------------------------
2,500 Illinois Development Finance Authority, Revenue Refunding Bonds (Community
Rehabilitation Providers Facilities), Series A, 6% due 7/01/2015 2,551
------------------------------------------------------------------------------------------------------------
415 Illinois HDA, Revenue Refunding Bonds (M/F Program), Series 5, 6.75% due 9/01/2023 416
------------------------------------------------------------------------------------------------------------
500 Illinois State Finance Authority Revenue Bonds (Friendship Village of Schaumburg),
Series A, 5.625% due 2/15/2037 503
------------------------------------------------------------------------------------------------------------
1,035 Illinois State Finance Authority Revenue Bonds (Landing At Plymouth Place Project),
Series A, 6% due 5/15/2037 1,062
------------------------------------------------------------------------------------------------------------
2,600 Kane and De Kalb Counties, Illinois, Community Unit School District Number 302, GO,
DRIVERS, Series 283, 7.535% due 2/01/2018 (d)(m) 3,139
------------------------------------------------------------------------------------------------------------
2,000 McLean and Woodford Counties, Illinois, Community Unit, School District Number 005,
GO, Refunding, 6.375% due 12/01/2016 (h) 2,237
------------------------------------------------------------------------------------------------------------
3,200 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax, Revenue
Refunding Bonds, DRIVERS, Series 269, 7.524% due 6/15/2023 (i)(m) 3,789
------------------------------------------------------------------------------------------------------------
1,500 Regional Transportation Authority, Illinois, Revenue Bonds, Series A, 7.20% due
11/01/2020 (b) 1,833
------------------------------------------------------------------------------------------------------------
7,000 Regional Transportation Authority, Illinois, Revenue Bonds, Series A, 6.70% due
11/01/2021 (d) 8,503
------------------------------------------------------------------------------------------------------------
2,500 Regional Transportation Authority, Illinois, Revenue Bonds, Series C, 7.75% due
6/01/2020 (d) 3,355
------------------------------------------------------------------------------------------------------------
1,580 Village of Wheeling, Illinois, Revenue Bonds (North Milwaukee/Lake-Cook Tax Increment
Financing (TIF) Redevelopment Project), 6% due 1/01/2025 1,532
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Indiana - 10.9% 8,245 Indiana Health and Educational Facilities Financing Authority, Hospital Revenue Bonds
(Clarian Health Obligation), Series A, 5.25% due 2/15/2040 8,488
------------------------------------------------------------------------------------------------------------
2,000 Indiana Health and Educational Facilities Financing Authority, Hospital Revenue Bonds
(Schneck Memorial Hospital Project), Series A, 5.25% due 2/15/2030 2,068
------------------------------------------------------------------------------------------------------------
5,545 Indiana State HFA, S/F Mortgage Revenue Refunding Bonds, Series A, 6.80% due
1/01/2017 (e) 5,678
------------------------------------------------------------------------------------------------------------
2,000 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 7.25%
due 6/01/2015 2,338
------------------------------------------------------------------------------------------------------------
3,775 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 6.80% due
12/01/2016 4,430
------------------------------------------------------------------------------------------------------------
8,750 Indianapolis, Indiana, Local Public Improvement Bond Bank, Revenue Refunding Bonds,
Series D, 6.75% due 2/01/2014 9,942
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MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
Louisiana - 9.3% $ 5,000 Louisiana Local Government, Environmental Facilities, Community Development Authority
Revenue Bonds (Capital Projects and Equipment Acquisition), Series A, 6.30% due
7/01/2030 (b) $ 5,622
------------------------------------------------------------------------------------------------------------
8,260 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan
Missionaries of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 8,502
------------------------------------------------------------------------------------------------------------
10,000 Port New Orleans, Louisiana, IDR, Refunding (Continental Grain Company Project),
6.50% due 1/01/2017 10,182
------------------------------------------------------------------------------------------------------------
3,600 Sabine River Authority, Louisiana, Water Facilities Revenue Refunding Bonds
(International Paper Company), 6.20% due 2/01/2025 3,819
-----------------------------------------------------------------------------------------------------------------------------------
Maryland - 1.6% 2,000 Maryland State Energy Financing Administration, Solid Waste Disposal Revenue Bonds,
Limited Obligation (Wheelabrator Water Projects), AMT, 6.45% due 12/01/2016 2,052
------------------------------------------------------------------------------------------------------------
1,000 Maryland State Health and Higher Educational Facilities Authority Revenue Bonds
(University of Maryland Medical System), Series B, 7% due 7/01/2022 (d) 1,277
------------------------------------------------------------------------------------------------------------
1,230 Montgomery County, Maryland, Special Obligation, GO (West Germantown Development
District), Series A, 6.70% due 7/01/2027 (k) 1,385
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Massachusetts - 4.9% 1,000 Massachusetts State College Building Authority, Project Revenue Refunding Bonds,
Senior-Series A, 7.50% due 5/01/2011 1,152
------------------------------------------------------------------------------------------------------------
1,250 Massachusetts State Development Finance Agency, Revenue Refunding Bonds (Eastern
Nazarene College), 5.625% due 4/01/2029 1,263
------------------------------------------------------------------------------------------------------------
5,000 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds,
DRIVERS, Series 1052, 6.051% due 8/15/2013 (h)(m) 5,360
------------------------------------------------------------------------------------------------------------
6,000 Massachusetts State Water Resource Authority Revenue Bonds, Series A, 6.50% due
7/15/2019 7,023
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Michigan - 4.5% 2,300 Delta County, Michigan, Economic Development Corporation, Environmental Improvement
Revenue Refunding Bonds (Mead Westvaco-Escanaba), Series A, 6.25% due 4/15/2012 (j) 2,579
------------------------------------------------------------------------------------------------------------
3,100 Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley
Medical Center), Series A, 6% due 7/01/2020 (a) 3,322
------------------------------------------------------------------------------------------------------------
4,320 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount
Clemens General Hospital), Series B, 5.875% due 11/15/2034 4,527
------------------------------------------------------------------------------------------------------------
3,000 Pontiac, Michigan, Tax Increment Finance Authority, Revenue Refunding Bonds
(Development Area Number 3), 6.375% due 6/01/2031 3,194
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Mississippi - 5.8% 5,850 Lowndes County, Mississippi, Solid Waste Disposal and PCR, Refunding (Weyerhaeuser
Company Project), Series A, 6.80% due 4/01/2022 6,943
------------------------------------------------------------------------------------------------------------
7,200 Mississippi Business Finance Corporation, Mississippi, PCR, Refunding (System Energy
Resources Inc. Project), 5.875% due 4/01/2022 7,221
------------------------------------------------------------------------------------------------------------
3,465 Mississippi Business Finance Corporation, Mississippi, PCR, Refunding (System Energy
Resources Inc. Project), 5.90% due 5/01/2022 3,476
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Missouri - 0.1% 145 Missouri State Housing Development Commission, S/F Mortgage Revenue Bonds (Homeowner
Loan), AMT, Series A, 7.50% due 3/01/2031 (g) 152
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Nebraska - 0.3% 470 Nebraska Investment Finance Authority, S/F Housing Revenue Bonds, AMT, Series C,
6.30% due 9/01/2028 (f)(g) 471
------------------------------------------------------------------------------------------------------------
540 Nebraska Investment Finance Authority, S/F Housing Revenue Bonds, AMT, Series D,
6.45% due 3/01/2028 (g) 549
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Nevada - 1.1% 620 Clark County, Nevada, Improvement District Number 142, Special Assessment Bonds,
6.375% due 8/01/2023 644
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MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 50 Nevada Housing Division Revenue Bonds (S/F Program), AMT, Senior Series E, 7% due
10/01/2019 (e) $ 50
------------------------------------------------------------------------------------------------------------
2,500 Washoe County, Nevada, Gas Facilities Revenue Bonds (Sierra Pacific Power Company),
AMT, 6.65% due 12/01/2017 (b) 2,506
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New Hampshire - 0.2% 625 New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds
(Catholic Medical Center), 5% due 7/01/2032 628
-----------------------------------------------------------------------------------------------------------------------------------
New Jersey - 9.0% 4,250 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 4,414
------------------------------------------------------------------------------------------------------------
1,335 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc.
Facility), Series A, 7.25% due 11/15/2021 1,449
------------------------------------------------------------------------------------------------------------
1,100 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc.
Facility), Series A, 7.25% due 11/15/2031 1,190
------------------------------------------------------------------------------------------------------------
7,155 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.125% due
3/01/2028 7,398
------------------------------------------------------------------------------------------------------------
1,325 New Jersey EDA, School Facilities Construction Revenue Bonds, Series P, 5.25% due
9/01/2026 1,398
------------------------------------------------------------------------------------------------------------
3,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project),
AMT, 6.25% due 9/15/2029 3,066
------------------------------------------------------------------------------------------------------------
1,680 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack Valley
Hospital Association), 6.625% due 7/01/2036 1,732
------------------------------------------------------------------------------------------------------------
5,785 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds,
7% due 6/01/2041 6,591
-----------------------------------------------------------------------------------------------------------------------------------
New Mexico - 1.1% 3,160 Farmington, New Mexico, PCR, Refunding (Tucson Electric Power Company - San Juan
Project), Series A, 6.95% due 10/01/2020 3,286
-----------------------------------------------------------------------------------------------------------------------------------
New York - 17.5% 4,000 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A,
5.125% due 11/15/2031 4,123
------------------------------------------------------------------------------------------------------------
5,000 Metropolitan Transportation Authority, New York, Transportation Revenue Bonds,
Series A, 5% due 11/15/2031 5,137
------------------------------------------------------------------------------------------------------------
2,000 Metropolitan Transportation Authority, New York, Transportation Revenue Refunding
Bonds, Series F, 5% due 11/15/2030 2,052
------------------------------------------------------------------------------------------------------------
690 New York City, New York, City IDA, Civic Facility Revenue Bonds, Series C, 6.80% due
6/01/2028 741
------------------------------------------------------------------------------------------------------------
890 New York City, New York, City IDA, Civic Facility Revenue Bonds (Special Needs
Facility Pooled Program), Series C-1, 6.50% due 7/01/2017 929
------------------------------------------------------------------------------------------------------------
1,920 New York City, New York, City IDA, Special Facility Revenue Bonds (British Airways
Plc Project), AMT, 7.625% due 12/01/2032 2,156
------------------------------------------------------------------------------------------------------------
9,250 New York City, New York, City Municipal Financing Authority, Water and Sewer Systems
Revenue Bonds, Series B, 5% due 6/15/2036 9,518
------------------------------------------------------------------------------------------------------------
3,375 New York City, New York, City Transitional Finance Authority Revenue Bonds, RIB,
Series 283, 8.56% due 11/15/2015 (m) 4,035
------------------------------------------------------------------------------------------------------------
490 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2010 (d)(j) 540
------------------------------------------------------------------------------------------------------------
40 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2015 (d) 44
------------------------------------------------------------------------------------------------------------
3,500 New York City, New York, GO, Series F, 5.25% due 1/15/2033 3,646
------------------------------------------------------------------------------------------------------------
4,995 New York City, New York, GO, Sub-Series I-1, 5% due 4/01/2025 5,149
------------------------------------------------------------------------------------------------------------
2,500 New York Liberty Development Corporation, Revenue Bonds (Goldman Sachs Headquarters),
5.25% due 10/01/2035 2,738
------------------------------------------------------------------------------------------------------------
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 7,000 New York State Dormitory Authority, Revenue Refunding Bonds, RIB, Series 305, 8.06%
due 5/15/2015 (i)(m) $ 8,198
------------------------------------------------------------------------------------------------------------
1,000 Westchester County, New York, IDA, Civic Facility Revenue Bonds (Special Needs
Facilities Pooled Program), Series E-1, 6.50% due 7/01/2017 1,044
------------------------------------------------------------------------------------------------------------
2,690 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue Bonds
(Kendal on Hudson Project), Series A, 6.50% due 1/01/2034 2,853
-----------------------------------------------------------------------------------------------------------------------------------
North 1,675 Gaston County, North Carolina, Industrial Facilities and Pollution Control Financing
Carolina - 1.6% Authority, Revenue Bonds (National Gypsum Company Project), AMT, 5.75% due 8/01/2035 1,752
------------------------------------------------------------------------------------------------------------
1,400 Haywood County, North Carolina, Industrial Facilities and Pollution Control Financing
Authority Revenue Bonds (Champion International Corporation Project), AMT, 6.25% due
9/01/2025 1,422
------------------------------------------------------------------------------------------------------------
1,500 North Carolina Medical Care Commission, Retirement Facilities, First Mortgage Revenue
Bonds (Givens Estates Project), Series A, 6.375% due 7/01/2023 1,601
-----------------------------------------------------------------------------------------------------------------------------------
Pennsylvania - 5.7% 1,235 Allegheny County, Pennsylvania, IDA, Environmental Improvement Revenue Refunding
Bonds, 5.50% due 11/01/2016 1,282
------------------------------------------------------------------------------------------------------------
880 Bucks County, Pennsylvania, IDA, Retirement Community Revenue Bonds (Ann's Choice
Inc.), Series A, 6.125% due 1/01/2025 915
------------------------------------------------------------------------------------------------------------
2,000 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, RIB,
Series 396, 8.063% due 1/01/2019 (h)(m) 2,263
------------------------------------------------------------------------------------------------------------
470 Montgomery County, Pennsylvania, IDA, Revenue Bonds (Whitemarsh Continuing Care
Project), 6.125% due 2/01/2028 496
------------------------------------------------------------------------------------------------------------
1,090 Montgomery County, Pennsylvania, IDA, Revenue Bonds (Whitemarsh Continuing Care
Project), 6.25% due 2/01/2035 1,147
------------------------------------------------------------------------------------------------------------
2,000 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue
Bonds (National Gypsum Company), AMT, Series B, 6.125% due 11/01/2027 2,090
------------------------------------------------------------------------------------------------------------
1,250 Pennsylvania State Higher Educational Facilities Authority Revenue Bonds (University
of Pennsylvania Medical Center Health System), Series A, 6% due 1/15/2031 1,353
------------------------------------------------------------------------------------------------------------
1,265 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75% due
12/01/2017 1,275
------------------------------------------------------------------------------------------------------------
2,425 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie
Healthcare System), Series B, 5.85% due 12/01/2020 2,587
------------------------------------------------------------------------------------------------------------
3,350 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie
Healthcare System), Series B, 7.125% due 12/01/2031 3,949
-----------------------------------------------------------------------------------------------------------------------------------
Rhode Island - 0.4% 1,140 Rhode Island State Health and Educational Building Corporation, Hospital Financing
Revenue Bonds (Lifespan Obligation Group), 6.50% due 8/15/2012 (j) 1,296
-----------------------------------------------------------------------------------------------------------------------------------
South 1,200 Lexington County, South Carolina, Health Services District Inc., Hospital Revenue
Carolina - 1.5% Bonds (Lexington Medical Center), 5.50% due 5/01/2032 1,247
------------------------------------------------------------------------------------------------------------
1,500 Lexington County, South Carolina, Health Services District Inc., Hospital Revenue
Refunding and Improvement Bonds, 5.50% due 11/01/2032 1,558
------------------------------------------------------------------------------------------------------------
1,230 Medical University Hospital Authority, South Carolina, Hospital Facilities Revenue
Refunding Bonds, 6.50% due 8/15/2012 (j) 1,404
------------------------------------------------------------------------------------------------------------
180 South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds,
AMT, Series A, 6.70% due 7/01/2027 182
-----------------------------------------------------------------------------------------------------------------------------------
Tennessee - 4.1% 1,000 Johnson City, Tennessee, Health and Educational Facilities Board, Retirement
Facility Revenue Bonds (Appalachian Christian Village Project), Series A, 6% due
2/15/2024 1,009
-----------------------------------------------------------------------------------------------------------------------------------
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 4,000 McMinn County, Tennessee, IDB, Solid Waste Revenue Bonds (Recycling Facility-Calhoun
Newsprint), AMT, 7.40% due 12/01/2022 $ 4,057
------------------------------------------------------------------------------------------------------------
1,700 Sevier County, Tennessee, Public Building Authority, Local Government Public
Improvement Revenue Bonds, VRDN, Series VI-F-2, 3.66% due 6/01/2015 (l)(n) 1,700
------------------------------------------------------------------------------------------------------------
1,825 Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (j) 2,085
------------------------------------------------------------------------------------------------------------
3,175 Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (j) 3,627
-----------------------------------------------------------------------------------------------------------------------------------
Texas - 14.8% 1,600 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First
Tier, Series A, 6.70% due 1/01/2028 1,699
------------------------------------------------------------------------------------------------------------
4,510 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First
Tier, Series A, 6.70% due 1/01/2032 4,755
------------------------------------------------------------------------------------------------------------
700 Bell County, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds
(Scott & White Memorial Hospital), VRDN, Series B-1, 3.66% due 8/15/2029 (i)(l) 700
------------------------------------------------------------------------------------------------------------
1,500 Brazos River Authority, Texas, PCR, Refunding (Texas Utility Company), AMT, Series A,
7.70% due 4/01/2033 1,746
------------------------------------------------------------------------------------------------------------
1,810 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc. Project),
Series B, 7.75% due 12/01/2018 1,935
------------------------------------------------------------------------------------------------------------
5,800 Brazos River, Texas, Harbor Navigation District, Brazoria County Environmental
Revenue Refunding Bonds (Dow Chemical Company Project), AMT, Series A-7, 6.625% due
5/15/2033 6,485
------------------------------------------------------------------------------------------------------------
2,500 Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal Facility
Revenue Bonds (E. I. du Pont de Nemours and Company Project), AMT, 6.40% due
4/01/2026 2,554
------------------------------------------------------------------------------------------------------------
5,000 Harris County, Texas, Health Facilities Development Corporation, Revenue Refunding
Bonds, DRIVERS, Series 1018, 7.529% due 7/01/2010 (m) 6,587
------------------------------------------------------------------------------------------------------------
3,440 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds
(Reliant Energy Inc.), Series C, 8% due 5/01/2029 3,674
------------------------------------------------------------------------------------------------------------
3,060 Port Corpus Christi, Texas, Individual Development Corporation, Environmental
Facilities Revenue Bonds (Citgo Petroleum Corporation Project), AMT, 8.25% due
11/01/2031 3,183
------------------------------------------------------------------------------------------------------------
2,500 Port Corpus Christi, Texas, Revenue Refunding Bonds (Celanese Project), AMT,
Series B, 6.70% due 11/01/2030 2,705
------------------------------------------------------------------------------------------------------------
800 Port Corpus Christi, Texas, Revenue Refunding Bonds (Celanese Project), Series A,
6.45% due 11/01/2030 859
------------------------------------------------------------------------------------------------------------
3,670 Sabine River Authority, Texas, PCR, Refunding (TXU Electric Company Project/TXU
Energy Company LLC), Series C, 5.20% due 5/01/2028 3,735
------------------------------------------------------------------------------------------------------------
3,750 San Antonio, Texas, Electric and Gas Revenue Bonds, RIB, Series 469X, 7.59% due
2/01/2014 (m) 4,225
-----------------------------------------------------------------------------------------------------------------------------------
Virginia - 2.9% 1,000 Chesterfield County, Virginia, IDA, PCR, Refunding (Virginia Electric and Power
Company), Series B, 5.875% due 6/01/2017 1,081
------------------------------------------------------------------------------------------------------------
7,215 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior-Series A,
5.50% due 8/15/2008 (j) 7,591
-----------------------------------------------------------------------------------------------------------------------------------
Washington - 7.6% 2,425 Chelan County, Washington, Public Utility District Number 001, Consolidated Revenue
Refunding Bonds (Chelan Hydro System), AMT, Series D, 6.35% due 7/01/2028 (i) 2,524
------------------------------------------------------------------------------------------------------------
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
-----------------------------------------------------------------------------------------------------------------------------------
$ 2,250 Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS, Series 248,
7.535% due 7/01/2018 (i)(m) $ 2,646
------------------------------------------------------------------------------------------------------------
1,125 Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS, Series 255,
8.032% due 7/01/2018 (b)(m) 1,352
------------------------------------------------------------------------------------------------------------
5,000 Washington State, GO, Trust Receipts, Class R, Series 6, 7.962% due 1/01/2014 (h)(m) 5,698
------------------------------------------------------------------------------------------------------------
2,200 Washington State Health Care Facilities Authority Revenue Bonds (Kadlec Medical
Center), 6% due 12/01/2010 (j)(k) 2,358
------------------------------------------------------------------------------------------------------------
5,000 Washington State Public Power Supply System, Revenue Refunding Bonds (Nuclear Project
Number 1), Series B, 7.125% due 7/01/2016 6,118
------------------------------------------------------------------------------------------------------------
1,900 Washington State Public Power Supply System, Revenue Refunding Bonds (Nuclear Project
Number 3), Series B, 7.125% due 7/01/2016 (i) 2,333
-----------------------------------------------------------------------------------------------------------------------------------
Wisconsin - 1.5% 1,945 Badger Tobacco Asset Securitization Corporation, Wisconsin, Asset-Backed Revenue
Bonds, 6.125% due 6/01/2027 2,066
------------------------------------------------------------------------------------------------------------
2,215 Wisconsin State Health and Educational Facilities Authority Revenue Bonds (Synergy
Health Inc.), 6% due 11/15/2032 2,376
-----------------------------------------------------------------------------------------------------------------------------------
Puerto Rico - 0.5% 1,650 Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax Revenue
Bonds, Series B, 5% due 7/01/2041 1,653
-----------------------------------------------------------------------------------------------------------------------------------
U.S. Virgin 6,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds (Hovensa Coker
Islands - 2.2% Project), AMT, 6.50% due 7/01/2021 6,721
-----------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $441,188*) - 156.0% 471,487
Other Assets Less Liabilities - 2.0% 6,081
Preferred Stock, at Redemption Value - (58.0%) (175,249)
----------
Net Assets Applicable to Common Stock - 100.0% $ 302,319
==========
* The cost and unrealized appreciation (depreciation) of investments as of
July 31, 2006, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 441,230
=========
Gross unrealized appreciation $ 30,671
Gross unrealized depreciation (414)
---------
Net unrealized appreciation $ 30,257
=========
(a) ACA Insured.
(b) AMBAC Insured.
(c) Escrowed to maturity.
(d) FGIC Insured.
(e) FHA Insured.
(f) FHLMC Collateralized.
(g) FNMA/GNMA Collateralized.
(h) FSA Insured.
(i) MBIA Insured.
(j) Prerefunded.
(k) Radian Insured.
(l) Security may have a maturity of more than one year at time of issuance,
but has variable rate and demand features that qualify it as a short-term
security. The rate disclosed is that currently in effect. This rate
changes periodically based upon prevailing market rates.
MuniVest Fund II, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
(m) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(n) XL Capital Insured.
o Investments in companies considered to be an affiliate of the Fund, for
purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as
follows:
--------------------------------------------------------------------------
Net Dividend
Affiliate Activity Income
--------------------------------------------------------------------------
Merrill Lynch Institutional
Tax-Exempt Fund -- $ 3
--------------------------------------------------------------------------
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our evaluation
of these controls and procedures as of a date within 90 days prior to the
filing date of this report.
2(b) - There were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the period
covered by this report that has materially affected, or is 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.
MuniVest Fund II, Inc.
By: /s/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniVest Fund II, Inc.
Date: September 20, 2006
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/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniVest Fund II, Inc.
Date: September 20, 2006
By: /s/ Donald C. Burke
---------------------------
Donald C. Burke
Chief Financial Officer
MuniVest Fund II, Inc.
Date: September 20, 2006