BLACKROCK MUNIHOLDINGS INVESTMENT QUALITY FUND
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: 811-08349
Name of Fund: BlackRock MuniHoldings Investment Quality Fund (MFL)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock
MuniHoldings Investment Quality Fund, 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: 08/31/2018
Date of reporting period:
11/30/2017
Item 1 – Schedule of Investments
|
|
|
| Schedule of Investments (unaudited)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Municipal Bonds — 126.3% |
|
|
| Alabama — 3.4% |
|
| City of Birmingham Alabama Special Care Facilities Financing Authority, RB, Children’s Hospital (AGC)(a): |
|
|
|
|
|
|
|
|
| 6.00%, 06/01/19 |
|
$ |
10,995 |
|
|
$ |
11,708,685 |
|
| 6.13%, 06/01/19 |
|
|
4,980 |
|
|
|
5,312,365 |
|
| City of Selma Alabama IDB, RB, Gulf Opportunity Zone, International Paper Co. Project, Series A,
5.38%, 12/01/35 |
|
|
1,745 |
|
|
|
1,948,537 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,969,587 |
|
| Arizona — 1.5% |
|
|
|
|
|
|
| County of Maricopa Arizona IDA, RB, Banner Health, Series A, 5.00%, 01/01/41 |
|
|
3,750 |
|
|
|
4,348,350 |
|
| Salt River Project Agricultural Improvement & Power District, Refunding RB, Series A,
5.00%, 01/01/38 |
|
|
900 |
|
|
|
1,056,897 |
|
| University of Arizona Board of Regents, Refunding RB, Series A, 5.00%, 06/01/40 |
|
|
2,300 |
|
|
|
2,639,825 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,045,072 |
|
| California — 24.2% |
|
|
|
|
|
|
| California Educational Facilities Authority, RB, University of Southern California, Series A, 5.25%, 10/01/18(a) |
|
|
4,000 |
|
|
|
4,130,840 |
|
| California Health Facilities Financing Authority, RB, Sutter Health, Series B, 6.00%, 08/15/42 |
|
|
5,370 |
|
|
|
6,022,992 |
|
| City & County of San Francisco California Airports Commission, Refunding ARB, AMT, Series
A: |
|
|
|
|
|
|
|
|
| 2nd, 5.50%, 05/01/28 |
|
|
3,330 |
|
|
|
3,896,633 |
|
| 2nd, 5.25%, 05/01/33 |
|
|
2,600 |
|
|
|
2,972,268 |
|
| 5.00%, 05/01/44 |
|
|
3,430 |
|
|
|
3,856,932 |
|
| City of Los Angeles California Department of Airports, ARB: |
|
|
|
|
|
|
|
|
| Sub-Series A, AMT, 5.00%, 05/15/42 |
|
|
4,500 |
|
|
|
5,231,520 |
|
| Sub-Series B, 5.00%, 05/15/42 |
|
|
2,500 |
|
|
|
2,937,850 |
|
| Subordinate, Los Angeles International Airport, Series B, AMT, 5.00%, 05/15/46 |
|
|
4,000 |
|
|
|
4,580,120 |
|
| City of Los Angeles California Department of Water & Power, RB, Power System, Sub-Series A-1, 5.25%, 07/01/38 |
|
|
5,000 |
|
|
|
5,115,650 |
|
| City of Manteca California Financing Authority, RB, Manteca Sewer (AGC): |
|
|
|
|
|
|
|
|
| 5.63%, 12/01/33 |
|
|
2,450 |
|
|
|
2,642,031 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| California (continued) |
|
| City of Manteca California Financing Authority, RB, Manteca Sewer (AGC) (continued): |
|
|
|
|
|
|
|
|
| 5.75%, 12/01/36 |
|
$ |
3,285 |
|
|
$ |
3,547,800 |
|
| City of San Jose California, Refunding ARB, Norman Y Mineta San Jose International Airport SJC, Series A-1, AMT, 5.75%, 03/01/34 |
|
|
4,450 |
|
|
|
4,950,358 |
|
| County of Sacramento California, ARB, Senior Series A (AGC), 5.50%, 07/01/18(a) |
|
|
5,600 |
|
|
|
5,736,528 |
|
| Irvine Ranch Water District, Special Assessment Bonds, 5.25%, 02/01/46 |
|
|
7,000 |
|
|
|
8,399,580 |
|
| Kern Community College District, GO, Safety, Repair & Improvement, Series C,
5.50%, 11/01/33 |
|
|
4,365 |
|
|
|
5,225,734 |
|
| Metropolitan Water District of Southern California, Refunding RB, Series A, 5.00%, 07/01/32 |
|
|
5,625 |
|
|
|
6,710,906 |
|
| Redondo Beach Unified School District, GO, Election of 2008, Series E, 5.50%, 08/01/21(a) |
|
|
3,110 |
|
|
|
3,541,637 |
|
| San Diego Public Facilities Financing Authority Water, Refunding RB, Series B (AGC),
5.38%, 08/01/19(a) |
|
|
2,000 |
|
|
|
2,124,380 |
|
| Santa Clara Unified School District, GO, Refunding, 3.00%, 07/01/36 |
|
|
5,580 |
|
|
|
5,378,953 |
|
| State of California, GO, Various Purposes (AGC), 5.50%, 11/01/39 |
|
|
15,000 |
|
|
|
16,127,400 |
|
| State of California Public Works Board, LRB, Various Capital Projects, Series I: |
|
|
|
|
|
|
|
|
| 5.50%, 11/01/30 |
|
|
4,500 |
|
|
|
5,312,970 |
|
| 5.50%, 11/01/31 |
|
|
2,615 |
|
|
|
3,082,667 |
|
| 5.50%, 11/01/33 |
|
|
2,000 |
|
|
|
2,345,600 |
|
| State of California Public Works Board, RB, Department of Corrections & Rehabilitation,
Series F, 5.25%, 09/01/33 |
|
|
3,240 |
|
|
|
3,741,811 |
|
| Township of Washington California Health Care District, GO, Election of 2004, Series B,
5.50%, 08/01/40 |
|
|
1,685 |
|
|
|
2,005,757 |
|
| University of California, Refunding RB, The Regents of Medical Center,
Series J, 5.25%, 05/15/38 |
|
|
12,250 |
|
|
|
14,217,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
133,836,144 |
|
| Colorado — 2.2% |
|
|
|
|
|
|
| City & County of Denver Colorado Airport System, ARB, Series A, AMT: |
|
|
|
|
|
|
|
|
| 5.50%, 11/15/28 |
|
|
2,700 |
|
|
|
3,132,054 |
|
| 5.50%, 11/15/30 |
|
|
1,040 |
|
|
|
1,198,985 |
|
| 5.50%, 11/15/31 |
|
|
1,250 |
|
|
|
1,437,388 |
|
|
|
|
|
|
| SCHEDULES OF INVESTMENTS |
|
|
1 |
|
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Colorado (continued) |
|
| Colorado Health Facilities Authority, RB, Hospital, NCMC, Inc. Project, Series B (AGM), 6.00%, 05/15/19(a) |
|
$ |
5,925 |
|
|
$ |
6,289,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,057,814 |
|
| District of Columbia — 0.6% |
|
|
|
|
|
|
| District of Columbia Water & Sewer Authority, Refunding RB, Series A, 6.00%, 10/01/18(a) |
|
|
3,000 |
|
|
|
3,115,770 |
|
|
|
|
|
|
|
|
|
|
| Florida — 7.3% |
|
|
|
|
|
|
| City of Jacksonville Florida, Refunding RB, Series A, 5.25%, 10/01/33 |
|
|
1,250 |
|
|
|
1,438,875 |
|
| County of Hillsborough Florida Aviation Authority, Refunding ARB, Tampa International Airport, Series A,
AMT: |
|
|
|
|
|
|
|
|
| 5.50%, 10/01/29 |
|
|
5,360 |
|
|
|
6,201,252 |
|
| 5.25%, 10/01/30 |
|
|
3,255 |
|
|
|
3,710,798 |
|
| County of Lee Florida, Refunding ARB, Series A, AMT, 5.38%, 10/01/32 |
|
|
7,100 |
|
|
|
7,850,754 |
|
| County of Lee Florida HFA, RB, S/F Housing, Multi-County Program, Series
A-2, AMT (Ginnie Mae), 6.00%, 09/01/40 |
|
|
420 |
|
|
|
423,637 |
|
| County of Manatee Florida HFA, RB, S/F Housing, Series A, AMT (Ginnie Mae, Fannie Mae & Freddie
Mac), 5.90%, 09/01/40 |
|
|
220 |
|
|
|
223,247 |
|
| County of Miami-Dade Florida, RB, Seaport Department: |
|
|
|
|
|
|
|
|
| Series A, 5.38%, 10/01/33 |
|
|
3,145 |
|
|
|
3,557,498 |
|
| Series B, AMT, 6.25%, 10/01/38 |
|
|
1,405 |
|
|
|
1,671,276 |
|
| Series B, AMT, 6.00%, 10/01/42 |
|
|
1,885 |
|
|
|
2,189,446 |
|
| County of Miami-Dade Florida, Refunding RB, Water & Sewer System, Series B,
5.25%, 10/01/29 |
|
|
2,870 |
|
|
|
3,335,801 |
|
| County of Miami-Dade Florida Aviation, Refunding ARB, Series A, AMT, 5.00%, 10/01/31 |
|
|
5,465 |
|
|
|
6,063,800 |
|
| Reedy Creek Florida Improvement District, GO, Series A, 5.25%, 06/01/32 |
|
|
3,225 |
|
|
|
3,720,360 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
40,386,744 |
|
| Hawaii — 2.0% |
|
|
|
|
|
|
| State of Hawaii, Department of Transportation, COP, AMT: |
|
|
|
|
|
|
|
|
| 5.25%, 08/01/25 |
|
|
1,350 |
|
|
|
1,520,411 |
|
| 5.25%, 08/01/26 |
|
|
2,500 |
|
|
|
2,803,075 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Hawaii (continued) |
|
| State of Hawaii, Department of Transportation, RB, Series A, AMT, 5.00%, 07/01/45 |
|
$ |
5,985 |
|
|
$ |
6,743,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,066,546 |
|
| Illinois — 18.2% |
|
| City of Chicago Illinois Midway International Airport, Refunding ARB, 2nd Lien,
Series A, AMT: |
|
|
|
|
|
|
|
|
| 5.50%, 01/01/30 |
|
|
6,500 |
|
|
|
7,387,315 |
|
| 5.50%, 01/01/32 |
|
|
6,275 |
|
|
|
7,096,586 |
|
| City of Chicago Illinois Midway International Airport, Refunding GARB, 2nd Lien, Series A, AMT, 5.00%,
01/01/41 |
|
|
8,020 |
|
|
|
8,871,724 |
|
| City of Chicago Illinois O’Hare International Airport, ARB, Senior Lien, Series D, 5.25%,
01/01/42 |
|
|
2,630 |
|
|
|
3,106,188 |
|
| City of Chicago Illinois O’Hare International Airport, GARB, 3rd Lien: |
|
|
|
|
|
|
|
|
| Series A, 5.75%, 01/01/21(a) |
|
|
6,210 |
|
|
|
6,960,292 |
|
| Series A, 5.75%, 01/01/39 |
|
|
1,185 |
|
|
|
1,313,122 |
|
| Series C, 6.50%, 01/01/21(a) |
|
|
16,800 |
|
|
|
19,205,760 |
|
| City of Chicago Illinois O’Hare International Airport, Refunding ARB, Series C,
5.00%,
01/01/37 |
|
|
1,000 |
|
|
|
1,136,320 |
|
| City of Chicago Illinois Transit Authority, RB: |
|
|
|
|
|
|
|
|
| Federal Transit Administration, Section 5309, Series A (AGC), 6.00%, 12/01/18(a) |
|
|
6,000 |
|
|
|
6,278,160 |
|
| Sales Tax Receipts, 5.25%, 12/01/40 |
|
|
10,960 |
|
|
|
11,748,901 |
|
| City of Chicago Illinois Transit Authority, Refunding RB, Federal Transit Administration, Section 5309
(AGM), 5.00%, 06/01/28 |
|
|
7,735 |
|
|
|
8,124,612 |
|
| Illinois Finance Authority, RB, Carle Foundation, Series A, 6.00%, 08/15/41 |
|
|
4,000 |
|
|
|
4,515,800 |
|
| Railsplitter Tobacco Settlement Authority, RB: |
|
|
|
|
|
|
|
|
| 5.50%, 06/01/23 |
|
|
4,365 |
|
|
|
4,924,986 |
|
| 6.00%, 06/01/28 |
|
|
1,245 |
|
|
|
1,399,591 |
|
|
|
|
| 2 |
|
2017 BLACKROCK QUARTERLY REPORT TO SHAREHOLDERS |
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Illinois (continued) |
|
| State of Illinois Finance Authority, RB, University of Chicago, Series B, 5.50%, 07/01/18(a) |
|
$ |
8,000 |
|
|
$ |
8,191,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,260,637 |
|
| Indiana — 4.2% |
|
| Indiana Finance Authority, Refunding RB, Stadium Project, Series A, 5.25%, 02/01/37 |
|
|
3,130 |
|
|
|
3,659,878 |
|
| Indiana Municipal Power Agency, Refunding RB, Series
A(a): |
|
|
|
|
|
|
|
|
| 5.25%, 07/01/23 |
|
|
1,500 |
|
|
|
1,768,080 |
|
| 5.25%, 07/01/23 |
|
|
1,500 |
|
|
|
1,768,080 |
|
| Indianapolis Local Public Improvement Bond Bank, Refunding RB, Waterworks Project, Series A (AGC): |
|
|
|
|
|
|
|
|
| 5.50%, 01/01/19(a) |
|
|
2,760 |
|
|
|
2,876,362 |
|
| 5.50%, 01/01/38 |
|
|
11,345 |
|
|
|
11,802,090 |
|
| State of Indiana Finance Authority, RB, Private Activity Bond, Ohio River Bridges, Series A, AMT, 5.00%,
07/01/40 |
|
|
1,240 |
|
|
|
1,339,299 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
23,213,789 |
|
| Kansas — 0.9% |
|
| County of Wyandotte Kansas Unified School District, GO, Series A, 5.50%, 09/01/47 |
|
|
4,000 |
|
|
|
4,856,320 |
|
|
|
|
|
|
|
|
|
|
| Kentucky — 0.0% |
|
| Kentucky State Property & Building Commission, Refunding RB, Project No. 93 (AGC),
5.25%, 02/01/19(a) |
|
|
45 |
|
|
|
46,861 |
|
|
|
|
|
|
|
|
|
|
| Louisiana — 0.9% |
|
| City of New Orleans Louisiana Aviation Board, Refunding GARB, Restructuring (AGC)(a): |
|
|
|
|
|
|
|
|
| Series A-1, 6.00%, 01/01/19 |
|
|
500 |
|
|
|
523,460 |
|
| Series A-2, 6.00%, 01/01/19 |
|
|
720 |
|
|
|
753,782 |
|
| Tobacco Settlement Financing Corp., Refunding RB, Asset-Backed, Series A, 5.50%, 05/15/29 |
|
|
3,735 |
|
|
|
3,922,161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,199,403 |
|
| Massachusetts — 1.6% |
|
| Massachusetts Bay Transportation Authority, Refunding RB, Sub Series
A-2, 5.00%, 07/01/40 |
|
|
2,000 |
|
|
|
2,348,900 |
|
| Massachusetts Development Finance Agency, Refunding RB, Partners Healthcare System, 5.00%, 07/01/41 |
|
|
4,710 |
|
|
|
5,367,799 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Massachusetts (continued) |
|
| Massachusetts Educational Financing Authority, RB, Education Loan, Issue I, AMT,
5.00%, 01/01/27 |
|
$ |
1,000 |
|
|
$ |
1,114,470 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,831,169 |
|
| Michigan — 3.5% |
|
| City of Detroit Michigan Water Supply System Revenue, RB, 2nd Lien, Series B (AGM): |
|
|
|
|
|
|
|
|
| 6.25%, 07/01/19(a) |
|
|
6,310 |
|
|
|
6,765,456 |
|
| 6.25%, 07/01/36 |
|
|
10 |
|
|
|
10,622 |
|
| Hudsonville Michigan Public Schools, GO, School Building & Site
(Q-SBLF), 5.25%, 05/01/21(a) |
|
|
6,015 |
|
|
|
6,702,153 |
|
| Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, Series V,
8.25%, 09/01/18 (a) |
|
|
5,780 |
|
|
|
6,074,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,552,260 |
|
| Minnesota — 1.6% |
|
| City of Minneapolis Minnesota, Refunding RB, Fairview Health Services, Series B (AGC),
6.50%, 11/15/38 |
|
|
8,375 |
|
|
|
8,763,181 |
|
|
|
|
|
|
|
|
|
|
| Mississippi — 2.8% |
|
| Mississippi Development Bank, RB, Jackson Water & Sewer System Project (AGM): |
|
|
|
|
|
|
|
|
| 6.88%, 12/01/40 |
|
|
6,405 |
|
|
|
7,999,781 |
|
| Special Obligation, 6.75%, 12/01/31 |
|
|
3,775 |
|
|
|
4,688,739 |
|
| Special Obligation, 6.75%, 12/01/33 |
|
|
2,350 |
|
|
|
2,918,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,607,337 |
|
| Nevada — 2.2% |
|
| County of Clark Nevada, ARB, Las Vegas-McCarran International Airport, Series A (AGM), 5.25%,
07/01/39 |
|
|
11,175 |
|
|
|
12,025,529 |
|
|
|
|
|
|
|
|
|
|
| New Jersey — 6.9% |
|
| New Jersey EDA, RB, Goethals Bridge Replacement Project, AMT, Private Activity Bond: |
|
|
|
|
|
|
|
|
| 5.38%, 01/01/43 |
|
|
7,000 |
|
|
|
7,789,390 |
|
| (AGM), 5.00%, 01/01/31 |
|
|
2,425 |
|
|
|
2,728,295 |
|
| New Jersey EDA, Refunding RB, Series B, 5.50%, 06/15/30 |
|
|
2,330 |
|
|
|
2,699,841 |
|
| New Jersey Health Care Facilities Financing Authority, RB, Virtua Health, Series A (AGC), 5.50%,
07/01/38 |
|
|
6,500 |
|
|
|
6,909,630 |
|
|
|
|
|
|
| SCHEDULES OF INVESTMENTS |
|
|
3 |
|
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| New Jersey (continued) |
|
| New Jersey Higher Education Student Assistance Authority, Refunding RB, Series 1, AMT,
5.75%, 12/01/28 |
|
$ |
2,795 |
|
|
$ |
3,040,401 |
|
| New Jersey Transportation Trust Fund Authority, RB, Transportation System: |
|
|
|
|
|
|
|
|
| Series A, 5.50%, 06/15/41 |
|
|
5,410 |
|
|
|
5,803,523 |
|
| Series AA, 5.50%, 06/15/39 |
|
|
8,175 |
|
|
|
8,930,370 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
37,901,450 |
|
| New York — 10.1% |
|
| City of New York New York Municipal Water Finance Authority, Refunding RB, 2nd General Resolution, Series
EE: |
|
|
|
|
|
|
|
|
| Fiscal 2009, 5.25%, 06/15/40 |
|
|
7,500 |
|
|
|
7,900,500 |
|
| Water & Sewer System, 5.38%, 06/15/43 |
|
|
3,475 |
|
|
|
3,831,118 |
|
| City of New York New York Water & Sewer System, Refunding RB, 2nd General Resolution, Series FF-2, 5.50%, 06/15/40 |
|
|
4,000 |
|
|
|
4,233,040 |
|
| Metropolitan Transportation Authority, RB: |
|
|
|
|
|
|
|
|
| Series A, 5.25%, 11/15/21(a) |
|
|
4,000 |
|
|
|
4,538,200 |
|
| Series A-1, 5.25%, 11/15/39 |
|
|
4,490 |
|
|
|
5,238,528 |
|
| Metropolitan Transportation Authority, Refunding RB: |
|
|
|
|
|
|
|
|
| Series B, 5.00%, 11/15/37 |
|
|
6,140 |
|
|
|
7,092,068 |
|
| Series C-1, 5.25%, 11/15/56 |
|
|
4,000 |
|
|
|
4,677,640 |
|
| Port Authority of New York & New Jersey, Refunding ARB, Consolidated: |
|
|
|
|
|
|
|
|
| 166th Series, 5.25%, 07/15/36 |
|
|
10,000 |
|
|
|
11,014,400 |
|
| 206th Series, AMT, 5.00%, 11/15/37 |
|
|
850 |
|
|
|
988,108 |
|
| Port Authority of New York & New Jersey, Refunding RB, Consolidated, 205th Series, 5.25%,
05/15/42 |
|
|
900 |
|
|
|
1,080,747 |
|
| Triborough Bridge & Tunnel Authority, Refunding RB, General, Series B, 5.00%, 11/15/38 |
|
|
4,500 |
|
|
|
5,280,030 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
55,874,379 |
|
| Ohio — 1.5% |
|
| State of Ohio Turnpike Commission, RB, Junior Lien, Infrastructure Projects, Series A-1: |
|
|
|
|
|
|
|
|
| 5.25%, 02/15/31 |
|
|
5,145 |
|
|
|
5,927,915 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Ohio (continued) |
|
| State of Ohio Turnpike Commission, RB, Junior Lien, Infrastructure Projects, Series A-1 (continued): |
|
|
|
|
|
|
|
|
| 5.25%, 02/15/32 |
|
$ |
2,250 |
|
|
$ |
2,587,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,515,505 |
|
| Pennsylvania — 4.6% |
|
| Pennsylvania Turnpike Commission, RB, Sub-Series A, 5.50%,
12/01/46 |
|
|
18,570 |
|
|
|
21,805,080 |
|
| Township of Bristol Pennsylvania School District, GO, 5.25%, 06/01/37 |
|
|
3,000 |
|
|
|
3,386,370 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,191,450 |
|
| South Carolina — 6.8% |
|
| County of Charleston South Carolina, RB, Special Source, 5.25%, 12/01/38 |
|
|
6,735 |
|
|
|
7,832,940 |
|
| County of Charleston South Carolina Airport District, ARB, Series A, AMT: |
|
|
|
|
|
|
|
|
| 5.25%, 07/01/25 |
|
|
4,490 |
|
|
|
5,171,627 |
|
| 5.50%, 07/01/38 |
|
|
3,000 |
|
|
|
3,395,490 |
|
| 6.00%, 07/01/38 |
|
|
5,270 |
|
|
|
6,119,998 |
|
| 5.50%, 07/01/41 |
|
|
4,170 |
|
|
|
4,715,144 |
|
| State of South Carolina Ports Authority, RB, AMT, 5.25%, 07/01/50 |
|
|
3,445 |
|
|
|
3,852,750 |
|
| State of South Carolina Public Service Authority, Refunding RB, Series E, 5.25%, 12/01/55 |
|
|
5,500 |
|
|
|
6,219,125 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
37,307,074 |
|
| Texas — 14.8% |
|
| City of Beaumont Texas, GO, Certificates of Obligation, 5.25%, 03/01/37 |
|
|
4,190 |
|
|
|
4,759,211 |
|
| City of Houston Texas Combined Utility System Revenue, Refunding RB, Combined 1st Lien, Series A
(AGC): |
|
|
|
|
|
|
|
|
| 6.00%, 05/15/19(a) |
|
|
12,030 |
|
|
|
12,778,747 |
|
| 6.00%, 05/15/19(a) |
|
|
8,940 |
|
|
|
9,496,425 |
|
| 6.00%, 11/15/35 |
|
|
670 |
|
|
|
714,093 |
|
| 6.00%, 11/15/36 |
|
|
495 |
|
|
|
527,576 |
|
| 5.38%, 11/15/38 |
|
|
265 |
|
|
|
278,510 |
|
| County of Tarrant Texas Cultural Education Facilities Finance Corp., Refunding RB, Christus Health, Series A
(AGC), 6.50%, 07/01/37 |
|
|
1,450 |
|
|
|
1,519,832 |
|
| Dallas-Fort Worth Texas International Airport, ARB, Joint Improvement, AMT: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 11/01/38 |
|
|
5,580 |
|
|
|
5,983,434 |
|
| Series H, 5.00%, 11/01/37 |
|
|
4,575 |
|
|
|
5,001,802 |
|
| Lower Colorado River Authority, Refunding RB, 5.50%, 05/15/33 |
|
|
3,735 |
|
|
|
4,351,910 |
|
|
|
|
| 4 |
|
2017 BLACKROCK QUARTERLY REPORT TO SHAREHOLDERS |
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Texas (continued) |
|
| North Texas Tollway Authority, Refunding RB, 1st Tier (a): |
|
|
|
|
|
|
|
|
| (AGM), 6.00%, 01/01/21 |
|
$ |
5,555 |
|
|
$ |
6,276,539 |
|
| Series K-1 (AGC), 5.75%, 01/01/19 |
|
|
12,150 |
|
|
|
12,687,759 |
|
| Red River Texas Education Financing Corp., RB, Texas Christian University Project, 5.25%, 03/15/38 |
|
|
7,170 |
|
|
|
8,143,256 |
|
| Texas Water Development Board, RB: |
|
|
|
|
|
|
|
|
| Series A, 5.00%, 10/15/40 |
|
|
3,170 |
|
|
|
3,671,209 |
|
| State Water Implementation Revenue, 5.25%, 10/15/46 |
|
|
4,780 |
|
|
|
5,693,458 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
81,883,761 |
|
| Utah — 1.6% |
|
| County of Utah Utah, RB, IHC Health Services, Inc., Series B, 5.00%, 05/15/46 |
|
|
7,500 |
|
|
|
8,613,450 |
|
|
|
|
|
|
|
|
|
|
| Virginia — 1.2% |
|
| City of Lexington Virginia IDA, RB, Washington & Lee University, 5.00%, 01/01/43 |
|
|
1,750 |
|
|
|
1,923,460 |
|
| State of Virginia Public School Authority, RB, Fluvanna County School Financing, 6.50%, 12/01/18(a) |
|
|
4,300 |
|
|
|
4,518,268 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,441,728 |
|
| Washington — 1.7% |
|
| City of Richland Washington, GO, Refunding, 5.00%, 12/01/45 |
|
|
1,175 |
|
|
|
1,368,910 |
|
| City of Seattle Washington Municipal Light & Power, Refunding RB, Series A, 5.25%, 02/01/21(a) |
|
|
4,200 |
|
|
|
4,655,112 |
|
| State of Washington, GO, Various Purposes, Series B, 5.25%, 02/01/21(a) |
|
|
3,290 |
|
|
|
3,651,900 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,675,922 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds — 126.3%
(Cost — $649,127,851) |
|
|
|
697,238,882 |
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds Transferred to Tender Option Bond Trusts(b) |
|
|
| Alabama — 8.2% |
|
| City of Birmingham Alabama Special Care Facilities Financing Authority, Refunding RB, Senior Credit: |
|
|
|
|
|
|
|
|
| Ascension Health, Series C, 5.00%, 11/15/46 |
|
|
11,920 |
|
|
|
13,563,112 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| Alabama (continued) |
|
| City of Birmingham Alabama Special Care Facilities Financing Authority, Refunding RB, Senior Credit
(continued): |
|
|
|
|
|
|
|
|
| Ascension Group, Series B, 5.00%, 11/15/46 |
|
$ |
27,798 |
|
|
$ |
31,630,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
45,193,343 |
|
| California — 2.6% |
|
| Los Angeles Unified School District California, GO, Series I, 5.00%, 01/01/34 |
|
|
2,400 |
|
|
|
2,522,412 |
|
| University of California, Refunding RB, Series AR, 5.00%, 05/15/38 |
|
|
10,000 |
|
|
|
11,759,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,282,162 |
|
| Florida — 2.0% |
|
| County of Hillsborough Florida Aviation Authority, ARB, Tampa International Airport, Series A, AMT (AGC),
5.50%, 10/01/38 |
|
|
10,657 |
|
|
|
10,937,277 |
|
|
|
|
|
|
|
|
|
|
| Indiana — 1.8% |
|
| Indiana Health & Educational Facilities Financing Authority, Refunding RB, St. Francis, Series E
(AGM), 5.25%, 05/01/18 |
|
|
9,850 |
|
|
|
10,006,319 |
|
|
|
|
|
|
|
|
|
|
| Massachusetts — 2.9% |
|
| Commonwealth of Massachusetts, GO, Series G, 4.00%, 09/01/42 |
|
|
15,000 |
|
|
|
15,860,950 |
|
|
|
|
|
|
|
|
|
|
| Nevada — 2.4% |
|
| County of Clark Nevada Water Reclamation District, GO: |
|
|
|
|
|
|
|
|
| Limited Tax, 6.00%, 07/01/18 |
|
|
8,000 |
|
|
|
8,214,120 |
|
| Series B, 5.50%, 07/01/19 |
|
|
5,008 |
|
|
|
5,309,720 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,523,840 |
|
|
|
|
|
|
| SCHEDULES OF INVESTMENTS |
|
|
5 |
|
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
|
|
|
|
|
|
| Security |
|
Par
(000) |
|
|
Value |
|
| New Jersey — 3.3% |
|
| New Jersey Housing & Mortgage Finance Agency, RB, S/F Housing, Series CC, 5.25%, 10/01/29 |
|
$ |
7,038 |
|
|
$ |
7,228,327 |
|
| New Jersey Transportation Trust Fund Authority, RB, Transportation System: |
|
|
|
|
|
|
|
|
| Series A (AMBAC), 5.00%, 12/15/32 |
|
|
8,000 |
|
|
|
8,017,920 |
|
| Series B, 5.25%, 06/15/36(c) |
|
|
2,961 |
|
|
|
3,158,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
18,404,673 |
|
| New York — 12.0% |
|
| Hudson Yards Infrastructure Corp., RB, Fiscal 2012, Series A, 5.75%, 02/15/47(c) |
|
|
9,249 |
|
|
|
10,353,220 |
|
| New York Liberty Development Corp., RB, 1 World Trade Center Port Authority Consolidated Bonds, 5.25%,
12/15/43(c) |
|
|
13,950 |
|
|
|
15,554,278 |
|
| City of New York New York Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 01/15/39 |
|
|
5,619 |
|
|
|
5,839,235 |
|
| New York City Transitional Finance Authority Future Tax Secured Revenue, RB, Fiscal 2017, Sub-Series B-1, 5.00%, 08/01/40 |
|
|
5,000 |
|
|
|
5,807,000 |
|
| New York State Dormitory Authority, ERB, Personal Income Tax, Series B, 5.25%, 03/15/19 |
|
|
13,500 |
|
|
|
14,124,982 |
|
| New York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51 |
|
|
8,200 |
|
|
|
9,279,772 |
|
| City of New York New York Municipal Water Finance Authority, Refunding RB, Water & Sewer System, 2nd
General Resolution, Series FF-2, 5.50%, 06/15/40 |
|
|
4,995 |
|
|
|
5,280,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
66,238,785 |
|
| Texas — 7.5% |
|
| North Texas Tollway Authority, RB, Special Projects System, Series A, 5.50%, 09/01/21 |
|
|
9,640 |
|
|
|
10,923,277 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Par/Shares
(000) |
|
|
Value |
|
| Texas (continued) |
|
| State of Texas, GO, Texas Transportation Commission, Highway Improvement, 5.00%, 04/01/43 |
|
|
15,550 |
|
|
$ |
18,049,040 |
|
| City of San Antonio Texas Public Service Board, Refunding RB, Series A, 5.25%, 02/01/19(c) |
|
|
12,027 |
|
|
|
12,521,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41,493.334 |
|
| Utah — 1.2% |
|
| City of Riverton Utah, RB, IHC Health Services, Inc., 5.00%, 08/15/41 |
|
|
6,373 |
|
|
|
6,699,077 |
|
|
|
|
|
|
|
|
|
|
| Total Municipal Bonds Transferred to Tender Option Bond Trusts — 43.9%
(Cost —
$237,398,906) |
|
|
|
242,639,760 |
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments — 170.2%
(Cost — $886,526,757) |
|
|
|
939,878,642 |
|
| Other Assets Less Liabilities — 1.8% |
|
|
|
9,699,178 |
|
| Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable —
(22.3)% |
|
|
|
(123,284,499 |
) |
| VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (49.7)% |
|
|
|
(274,200,434 |
) |
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common
Shares — 100.0% |
|
|
$ |
552,092,887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| 6 |
|
2017 BLACKROCK QUARTERLY REPORT TO SHAREHOLDERS |
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
| (a) |
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. |
| (b) |
Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Trust. These bonds serve as collateral in a secured borrowing. |
| (c) |
All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Trust could ultimately be required to pay under the agreement, which expire between September 6, 2018 to
November 15, 2019 is $19,874,974. |
During the period ended November 30, 2017, investments in
issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Affiliate |
|
Shares
Held at
08/31/17 |
|
|
Net
Activity |
|
|
Shares
Held at
11/30/17 |
|
|
Value at
11/30/17 |
|
|
Income |
|
|
Net
Realized
Gain(a) |
|
|
Change in
Unrealized
Appreciation
(Depreciation) |
|
| BlackRock Liquidity Funds, MuniCash, Institutional Class |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
$ |
1,903 |
|
|
$ |
7 |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(a) |
Includes net capital gain distributions, if applicable. |
|
For Trust compliance purposes, the Trust’s sector classifications refer to
one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for
purposes of this report, which may combine such sector sub-classifications for reporting ease
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 5-Year U.S. Treasury Note |
|
|
104 |
|
|
|
03/29/18 |
|
|
$ |
12,100 |
|
|
$ |
45,951 |
|
| 10-Year U.S. Treasury Note |
|
|
66 |
|
|
|
03/20/18 |
|
|
|
8,187 |
|
|
|
58,986 |
|
| Long U.S. Treasury Bond |
|
|
68 |
|
|
|
03/20/18 |
|
|
|
10,317 |
|
|
|
108,184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
213,121 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Portfolio Abbreviations |
|
|
| AGC |
|
Assured Guarantee Corp. |
| AGM |
|
Assured Guaranty Municipal Corp. |
| AMBAC |
|
American Municipal Bond Assurance Corp. |
| AMT |
|
Alternative Minimum Tax (subject to) |
| ARB |
|
Airport Revenue Bonds |
| BARB |
|
Building Aid Revenue Bonds |
| COP |
|
Certificates of Participation |
| EDA |
|
Economic Development Authority |
| ERB |
|
Education Revenue Bonds |
| GARB |
|
General Airport Revenue Bonds |
| GO |
|
General Obligation Bonds |
| HFA |
|
Housing Finance Agency |
|
|
|
|
|
| SCHEDULES OF INVESTMENTS |
|
|
7 |
|
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
|
|
|
| Portfolio Abbreviations (continued) |
|
|
| IDA |
|
Industrial Development Authority |
| IDB |
|
Industrial Development Board |
| LRB |
|
Lease Revenue Bonds |
| RB |
|
Revenue Bonds |
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 the Trust has the ability to access |
| |
• |
|
Level 2 — other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar
assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default
rates) or other market–corroborated inputs) |
| |
• |
|
Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’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 the Trust’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
Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its semi-annual report.
The following tables summarize the Trust’s investments and derivative financial instruments categorized in the
disclosure hierarchy:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
| Assets: |
|
| Investments: |
|
| Long-Term Investments(a) |
|
$ |
— |
|
|
$ |
939,878,642 |
|
|
$ |
— |
|
|
$ |
939,878,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Derivative Financial
Instruments(b) |
|
| Assets: |
|
| Interest rate contracts |
|
$ |
213,121 |
|
|
|
— |
|
|
|
— |
|
|
$ |
213,121 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
(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. |
|
|
|
|
| 8 |
|
2017 BLACKROCK QUARTERLY REPORT TO SHAREHOLDERS |
|
|
|
|
Schedule of Investments (unaudited) (continued)
November 30, 2017 |
|
BlackRock MuniHoldings Investment Quality Fund (MFL)
(Percentages shown are based on Net Assets) |
The Trust 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 |
|
$ |
— |
|
|
$ |
(123,070,585 |
) |
|
$ |
— |
|
|
$ |
(123,070,585 |
) |
| VRDP Shares at Liquidation Value |
|
|
— |
|
|
|
(274,600,000 |
) |
|
|
— |
|
|
|
(274,600,000 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
(397,670,585 |
) |
|
$ |
— |
|
|
$ |
(397,670,585 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
During the period ended November 30, 2017, there were no transfers between levels.
|
|
|
|
|
| SCHEDULES OF INVESTMENTS |
|
|
9 |
|
Item 2 – Controls and Procedures
| 2(a) – |
The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and
procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. |
| 2(b) – |
There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the
registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 3 – Exhibits
| |
Certifications – Attached hereto |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company
Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
|
|
|
BlackRock MuniHoldings Investment Quality Fund |
|
|
|
|
|
|
|
|
By: |
|
/s/ John M. Perlowski |
|
|
|
|
|
|
John M. Perlowski |
|
|
|
|
|
|
Chief Executive Officer (principal executive officer) of |
|
|
|
|
|
|
BlackRock MuniHoldings Investment Quality Fund |
|
|
Date: January 22, 2018
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 Investment Quality Fund |
|
|
Date: January 22, 2018
|
|
|
|
|
|
|
|
|
By: |
|
/s/ Neal J. Andrews |
|
|
|
|
|
|
Neal J. Andrews |
|
|
|
|
|
|
Chief Financial Officer (principal financial officer) of |
|
|
|
|
|
|
BlackRock MuniHoldings Investment Quality Fund |
|
|
Date: January 22, 2018