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 811-8081
Name of Fund: MuniHoldings Fund, 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, MuniHoldings Fund, 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: 04/30/2007
Date of reporting period: 05/01/06 - 07/31/06
Item 1 - Schedule of Investments
MuniHoldings Fund, Inc.
Schedule of Investments as of July 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
Alabama - 2.9% $ 1,750 Camden, Alabama, IDB, Exempt Facilities Revenue Bonds (Weyerhaeuser Company),
Series A, 6.125% due 12/01/2024 $ 1,895
4,550 Jefferson County, Alabama, Limited Obligation School Warrants, Series A, 5%
due 1/01/2024 4,657
Arizona - 3.3% 900 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter
Schools Project 1), Series A, 6.50% due 7/01/2012 907
2,200 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter
Schools Project 1), Series A, 6.75% due 7/01/2029 2,190
2,745 Phoenix, Arizona, IDA, Airport Facility, Revenue Refunding Bonds (America West
Airlines Inc. Project), AMT, 6.30% due 4/01/2023 2,708
1,000 Pinal County, Arizona, COP, 5% due 12/01/2029 1,015
610 Show Low, Arizona, Improvement District Number 5, Special Assessment Bonds,
6.375% due 1/01/2015 629
Arkansas - 0.9% 2,000 University of Arkansas, University Construction Revenue Bonds (UAMS Campus),
Series B, 5% due 11/01/2023 (h) 2,075
California - 19.5% 875 Agua Caliente Band of Cahuilla Indians, California, Casino Revenue Bonds, 5.60%
due 7/01/2013 905
2,965 California Infrastructure and Economic Development Bank, Insured Revenue Bonds
(Rand Corporation), Series A, 5.50% due 4/01/2032 (b) 3,152
3,405 California Pollution Control Financing Authority, PCR, Refunding, DRIVERS, AMT,
Series 878Z, 6.719% due 12/01/2009 (g)(h) 3,803
300 California State, GO, 5.50% due 4/01/2014 (i) 333
2,200 California State, GO, 5.50% due 4/01/2028 2,378
6,800 California State Public Works Board, Lease Revenue Bonds (Department of
Corrections), Series C, 5.25% due 6/01/2028 7,059
3,870 California Statewide Communities Development Authority, Health Facility Revenue
Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 4,215
2,000 East Side Union High School District, California, Santa Clara County, GO (Election
of 2002), Series D, 5% due 8/01/2021 (k) 2,099
1,165 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-3, 7.875% due 6/01/2042 1,398
Portfolio Abbreviations
To simplify the listings of MuniHoldings Fund, 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)
COP Certificates of Participation
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
PCR Pollution Control Revenue Bonds
RIB Residual Interest Bonds
VRDN Variable Rate Demand Notes
MuniHoldings Fund, Inc.
Schedule of Investments as of July 31, 2006 (concluded) (in Thousands)
Face
State Amount Municipal Bonds Value
California $ 6,000 Los Angeles, California, Unified School District, GO, Series A, 5% due
(concluded) 1/01/2028 (h) $ 6,192
2,405 Montebello, California, Unified School District, GO, 5.61% due 8/01/2022 (c)(m) 1,133
2,455 Montebello, California, Unified School District, GO, 5.61% due 8/01/2023 (c)(m) 1,098
2,095 Oceanside, California, Unified School District, GO (Election of 2000), Series C,
5.25% due 8/01/2032 (h) 2,196
3,490 Sequoia, California, Unified High School District, GO, Refunding, Series B, 5.50%
due 7/01/2035 (e) 3,813
1,000 Sunnyvale, California, School District, GO (Election of 2004), Series A, 5% due
9/01/2026 (e) 1,041
2,915 Tustin, California, Unified School District, Senior Lien Special Tax Bonds
(Community Facilities District Number 97-1), Series A, 5% due 9/01/2032 (e) 2,972
Colorado - 1.7% 2,645 Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee),
Series A, 7.35% due 9/01/2031 2,799
1,000 Plaza Metropolitan District Number 1, Colorado, Tax Allocation Revenue Bonds
(Public Improvement Fees), 8.125% due 12/01/2025 1,002
Connecticut - 3.2% 2,285 Bridgeport, Connecticut, Senior Living Facilities Revenue Bonds (3030 Park
Retirement Community Project), 7.25% due 4/01/2035 1,721
2,165 Connecticut State Development Authority, Airport Facility Revenue Bonds (Learjet
Inc. Project), AMT, 7.95% due 4/01/2026 2,566
2,735 Connecticut State Development Authority, IDR (AFCO Cargo BDL-LLC Project), AMT,
8% due 4/01/2030 2,952
Florida - 8.1% 2,340 Miami-Dade County, Florida, Subordinate Special Obligation Revenue Bonds, Series A,
5.24% due 10/01/2037 (h)(m) 456
2,250 Midtown Miami, Florida, Community Development District, Special Assessment Revenue
Bonds, Series A, 6.25% due 5/01/2037 2,439
2,550 Midtown Miami, Florida, Community Development District, Special Assessment Revenue
Bonds, Series B, 6.50% due 5/01/2037 2,805
3,225 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Orlando
Regional Healthcare), 6% due 12/01/2012 (i) 3,586
2,095 Orlando, Florida, Greater Orlando Aviation Authority, Airport Facilities Revenue
Bonds (JetBlue Airways Corp.), AMT, 6.50% due 11/15/2036 2,185
800 Orlando, Florida, Urban Community Development District, Capital Improvement Special
Assessment Bonds, Series A, 6.95% due 5/01/2033 862
725 Palm Coast Park Community Development District, Florida, Special Assessment Revenue
Bonds, 5.70% due 5/01/2037 728
1,645 Preserve at Wilderness Lake, Florida, Community Development District, Capital
Improvement Bonds, Series A, 5.90% due 5/01/2034 1,692
1,000 Tern Bay Community Development District, Florida, Capital Improvement Revenue
Refunding Bonds, Series A, 5.375% due 5/01/2037 995
2,300 West Villages Improvement District, Florida, Special Assessment Revenue Refunding
Bonds (Unit of Development Number 2), 5.80% due 5/01/2036 2,357
Georgia - 0.9% 1,750 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.90% due
12/01/2024 1,934
Illinois - 3.8% 730 Beardstown, Illinois, IDR (Jefferson Smurfit Corp. Project), 8% due 10/01/2016 747
1,000 Chicago, Illinois, O'Hare International Airport, Special Facility Revenue Refunding
Bonds (American Airlines Inc. Project), 8.20% due 12/01/2024 1,027
1,200 Chicago, Illinois, Special Assessment Bonds (Lake Shore East), 6.75% due 12/01/2032 1,289
4,000 Illinois HDA, Homeowner Mortgage Revenue Bonds, AMT, Sub-Series C-2, 5.35% due
2/01/2027 4,076
700 Illinois State Finance Authority Revenue Bonds (Landing At Plymouth Place Project),
Series A, 6% due 5/15/2025 724
625 Naperville, Illinois, IDR (General Motors Corporation), Refunding, VRDN, 8% due
12/01/2012 (f) 625
Indiana - 2.7% 8,985 Allen County, Indiana, Redevelopment District Tax Increment Revenue Bonds (General
Motors Development Area), 7% due 5/15/2008 (i)(m) 5,955
Kentucky - 1.0% 2,000 Louisville and Jefferson Counties, Kentucky, Metropolitan Sewer District, Sewer and
Drain System Revenue Bonds, Series A, 5.50% due 5/15/2034 (h) 2,136
Louisiana - 4.8% 4,115 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan Missionaries
of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 4,235
1,050 Louisiana State, Gas and Fuels Tax Revenue Bonds, Series A, 5% due 5/01/2030 (c) 1,080
1,750 New Orleans, Louisiana, Financing Authority Revenue Bonds (Xavier University of
Louisiana Project), 5.30% due 6/01/2026 (h) 1,820
3,540 New Orleans, Louisiana, GO (Public Improvements), 5% due 10/01/2033 (h) 3,592
Maryland - 5.7% 1,875 Anne Arundel County, Maryland, Special Obligation Revenue Bonds (Arundel Mills
Project), 7.10% due 7/01/2009 (i) 2,077
5,417 Baltimore, Maryland, Convention Center Hotel Revenue Bonds, RIB, Series 1252X,
6.60% due 9/01/2039 (g)(k) 6,007
1,760 Maryland State Economic Development Corporation, Student Housing Revenue Bonds
(University of Maryland College Park Project), 6% due 6/01/2013 (i) 1,966
2,750 Maryland State Energy Financing Administration, Limited Obligation Revenue Bonds
(Cogeneration-AES Warrior Run), AMT, 7.40% due 9/01/2019 2,774
Massachusetts - 4.4% 2,900 Massachusetts State, HFA, Housing Revenue Bonds, AMT, Series A, 5.25% due 12/01/2048 2,923
6,695 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds,
Series A, 5% due 8/15/2030 (e) 6,936
Michigan - 2.6% 1,400 Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley Medical
Center), Series A, 6% due 7/01/2020 (a) 1,500
3,000 Michigan State Strategic Fund, Limited Obligation Revenue Refunding Bonds (Detroit
Edison Company Pollution Control Project), AMT, Series B, 5.65% due 9/01/2029 3,138
1,300 Michigan State Strategic Fund, PCR (General Motors Corporation Project), VRDN,
7.75% due 12/01/2008 (f) 1,300
Minnesota - 1.7% 3,500 Minneapolis, Minnesota, Community Development Agency, Supported Development Revenue
Refunding Bonds, Series G-3, 5.45% due 12/01/2011 (i) 3,765
Mississippi - 5.4% 7,675 Claiborne County, Mississippi, PCR, Refunding (System Energy Resources Inc. Project),
6.20% due 2/01/2026 7,712
2,500 Mississippi Business Finance Corporation, Mississippi, PCR, Refunding (System Energy
Resources Inc. Project), 5.90% due 5/01/2022 2,508
1,000 Mississippi Development Bank, Special Obligation Revenue Refunding Bonds (Gulfport
Water and Sewer System Project), 5.25% due 7/01/2017 (e) 1,085
810 Mississippi Development Bank, Special Obligation Revenue Refunding Bonds (Gulfport
Water and Sewer System Project), 5.25% due 7/01/2019 (e) 873
Missouri - 1.4% 1,915 Fenton, Missouri, Tax Increment Revenue Refunding and Improvement Bonds (Gravois
Bluffs), 7% due 10/01/2011 (i) 2,205
1,000 Missouri State Development Finance Board, Infrastructure Facilities Revenue
Refunding Bonds (Branson), Series A, 5.50% due 12/01/2032 1,030
New Jersey - 12.7% 5,385 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2029 5,703
2,280 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2034 2,399
1,475 New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc.
Facility), Series A, 7.25% due 11/15/2031 1,595
2,600 New Jersey EDA, Retirement Community Revenue Bonds (Seabrook Village Inc.),
Series A, 8.25% due 11/15/2030 2,896
1,965 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O, 5.125%
due 3/01/2030 2,029
1,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project),
AMT, 6.625% due 9/15/2012 1,053
2,950 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project),
AMT, 6.25% due 9/15/2029 3,015
3,325 New Jersey Health Care Facilities Financing Authority Revenue Bonds (South Jersey
Hospital), 6% due 7/01/2026 3,521
3,500 New Jersey State Turnpike Authority, Turnpike Revenue Bonds, Series C, 5% due
1/01/2030 (e) 3,616
2,315 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue Bonds,
7% due 6/01/2041 2,637
New Mexico - 2.7% 2,000 Farmington, New Mexico, PCR, Refunding (Public Service Company of New Mexico -
San Juan Project), Series A, 6.30% due 12/01/2016 2,053
3,720 New Mexico Finance Authority, Senior Lien State Transportation Revenue Bonds,
Series A, 5.125% due 6/15/2018 (h) 3,961
New York - 15.3% 1,185 Dutchess County, New York, IDA, Civic Facility Revenue Refunding Bonds (Saint
Francis Hospital), Series A, 7.50% due 3/01/2029 1,286
535 New York City, New York, City IDA, Civic Facility Revenue Bonds, Series C, 6.80%
due 6/01/2028 575
725 New York City, New York, City IDA, Special Facility Revenue Bonds (Continental
Airlines Inc. Project), AMT, 8% due 11/01/2012 790
725 New York City, New York, City IDA, Special Facility Revenue Bonds (Continental
Airlines Inc. Project), AMT, 8.375% due 11/01/2016 801
2,120 New York City, New York, Sales Tax Asset Receivable Corporation Revenue Bonds,
DRIVERS, Series 1133Z, 6.621% due 10/15/2012 (b)(g) 2,396
9,115 New York City, New York, Sales Tax Asset Receivable Corporation Revenue Bonds,
Series A, 5% due 10/15/2020 (h) 9,590
3,680 New York State Dormitory Authority Revenue Bonds (School Districts Financing
Program), Series D, 5.25% due 10/01/2023 (h) 3,915
3,150 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series A-1,
5.50% due 6/01/2018 3,366
3,500 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series C-1,
5.50% due 6/01/2017 3,717
3,800 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series C-1,
5.50% due 6/01/2020 (c) 4,088
1,400 Tobacco Settlement Financing Corporation of New York Revenue Bonds, Series C-1,
5.50% due 6/01/2022 1,492
2,080 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue
Bonds (Kendal on Hudson Project), Series A, 6.50% due 1/01/2034 2,206
Oklahoma - 0.7% 200 Oklahoma State Industries Authority, Revenue Refunding Bonds (Integris Baptist),
VRDN, Series B, 3.66% due 8/15/2029 (f)(h) 200
1,425 Tulsa, Oklahoma, Municipal Airport Trust Revenue Refunding Bonds (AMR Corporation),
AMT, Series A, 5.375% due 12/01/2035 1,425
Oregon - 0.9% 2,050 Western Generation Agency, Oregon, Cogeneration Project Revenue Bonds (Wauna
Cogeneration Project), AMT, Series B, 7.40% due 1/01/2016 2,058
Pennsylvania - 6.8% 1,700 Bucks County, Pennsylvania, IDA, Retirement Community Revenue Bonds (Ann's
Choice Inc.), Series A, 6.25% due 1/01/2035 1,775
3,500 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue
Bonds (National Gypsum Company), AMT, Series B, 6.125% due 11/01/2027 3,658
725 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75%
due 12/01/2017 731
2,500 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development (Days Inn),
Refunding, Series B, 6.50% due 2/01/2007 (i) 2,579
1,105 Philadelphia, Pennsylvania, Authority for Industrial Development, Senior Living
Revenue Bonds (Arbor House Inc. Project), Series E, 6.10% due 7/01/2033 1,144
1,245 Philadelphia, Pennsylvania, Authority for Industrial Development, Senior Living
Revenue Bonds (Saligman House Project), Series C, 6.10% due 7/01/2033 1,289
3,500 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie
Healthcare System), Series B, 7.125% due 12/01/2031 4,126
Rhode Island - 1.4% 2,820 Rhode Island State Health and Educational Building Corporation, Hospital Financing
Revenue Bonds (Lifespan Obligation Group), 6.50% due 8/15/2012 (i) 3,206
South Carolina - 4.3% 3,020 Medical University Hospital Authority, South Carolina, Hospital Facilities Revenue
Refunding Bonds, Series A, 6.375% due 8/15/2012 (i) 3,427
5,800 South Carolina State Ports Authority, Ports Revenue Bonds, RIB, AMT, Series 1390X,
6.67% due 7/01/2026 (e)(g) 6,094
Tennessee - 8.3% 4,280 Hardeman County, Tennessee, Correctional Facilities Corporation Revenue Bonds,
7.75% due 8/01/2017 4,424
1,845 Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (i) 2,108
2,730 Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (i) 3,119
3,400 Tennessee Educational Loan Revenue Bonds (Educational Funding South Inc.), AMT,
Senior Series B, 6.20% due 12/01/2021 3,412
5,200 Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series A, 5.25% due
9/01/2026 5,640
Texas - 15.0% 4,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First
Tier, Series A, 6.70% due 1/01/2028 4,247
1,000 Brazos River Authority, Texas, PCR, Refunding (TXU Energy Company LLC Project),
Series B, 4.75% due 5/01/2029 1,002
2,340 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc. Project),
Series B, 7.75% due 12/01/2018 2,501
3,655 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 4,087
3,450 Harris County, Texas, Revenue Refunding Bonds, DRIVERS, Series 1111, 6.53% due
8/15/2009 (e)(g) 3,713
2,430 Harris County, Texas, Revenue Refunding Bonds, DRIVERS, Series 1172-Z, 6.541%
due 8/15/2009 (e)(g) 2,607
1,800 Houston, Texas, Health Facilities Development Corporation, Retirement Facility
Revenue Bonds (Buckingham Senior Living Community), Series A, 7.125% due 2/15/2034 1,985
3,000 Lower Colorado River Authority, Texas, PCR (Samsung Austin Semiconductor), AMT,
6.375% due 4/01/2027 3,110
1,485 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds
(Reliant Energy Inc.), Series C, 8% due 5/01/2029 1,586
1,425 Port Corpus Christi, Texas, Individual Development Corporation, Environmental
Facilities Revenue Bonds (Citgo Petroleum Corporation Project), AMT, 8.25% due
11/01/2031 1,482
4,455 Texas State Department of Housing and Community Affairs, Residential Mortgage
Revenue Bonds, AMT, Series A, 5.70% due 1/01/2033 (d) 4,526
2,785 Texas State Department of Housing and Community Affairs, Residential Mortgage
Revenue Refunding Bonds, AMT, Series B, 5.25% due 7/01/2022 (d) 2,858
Vermont - 1.1% 2,370 Vermont Educational and Health Buildings Financing Agency, Revenue Bonds
(Developmental and Mental Health), Series A, 6% due 6/15/2017 2,454
Virginia - 5.4% 1,150 Chesterfield County, Virginia, IDA, PCR (Virginia Electric and Power Company),
Series A, 5.875% due 6/01/2017 1,237
3,000 Fairfax County, Virginia, EDA, Resource Recovery Revenue Refunding Bonds, AMT,
Series A, 6.10% due 2/01/2011 (b) 3,239
3,825 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior-Series A,
5.50% due 8/15/2008 (i) 4,025
1,500 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior-Series B,
8.40% due 8/15/2008 (i)(m) 416
300 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior-Series B,
8.80% due 8/15/2008 (i)(m) 79
3,035 Tobacco Settlement Financing Corporation of Virginia, Asset-Backed Revenue Bonds,
5.625% due 6/01/2037 3,149
Washington - 0.6% 1,365 Seattle, Washington, Housing Authority Revenue Bonds (Replacement Housing Project),
6.125% due 12/01/2032 1,385
Wisconsin - 1.2% 825 Wisconsin State Health and Educational Facilities Authority Revenue Bonds (New
Castle Place Project), Series A, 7% due 12/01/2031 850
1,755 Wisconsin State Health and Educational Facilities Authority Revenue Bonds
(Synergyhealth Inc.), 6% due 11/15/2032 1,882
Puerto Rico - 0.9% 2,060 Puerto Rico Industrial, Medical and Environmental Pollution Control Facilities
Financing Authority, Special Facilities Revenue Bonds (American Airlines Inc.),
Series A, 6.45% due 12/01/2025 2,061
U.S. Virgin 3,460 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds
Islands - 1.7% (Hovensa Coker Project), AMT, 6.50% due 7/01/2021 3,876
Total Municipal Bonds (Cost - $326,989) - 153.0% 343,519
Shares
Held Short-Term Securities
9 Merrill Lynch Institutional Tax-Exempt Fund, 3.45% (j)(l) 9
Total Short-Term Securities (Cost - $9) - 0.0% 9
Total Investments (Cost - $326,998*) - 153.0% 343,528
Other Assets Less Liabilities - 2.7% 6,079
Preferred Stock, at Redemption Value - (55.7%) (125,064)
-----------
Net Assets Applicable to Common Stock - 100.0% $ 224,543
===========
* 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 $ 326,998
===================
Gross unrealized appreciation $ 17,801
Gross unrealized depreciation (1,271)
-------------------
Net unrealized appreciation $ 16,530
===================
(a) ACA Insured.
(b) AMBAC Insured.
(c) FGIC Insured.
(d) FNMA/GNMA Collateralized.
(e) FSA Insured.
(f) 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.
(g) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(h) MBIA Insured.
(i) Prerefunded.
(j) Represents the current yield as of July 31, 2006.
(k) XL Capital Insured.
(l) 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 -- --*
* Amount is less than $1,000.
(m) Represents a zero coupon bond, the interest rate shown reflects the
effective yield at the time of purchase.
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.
MuniHoldings Fund, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniHoldings Fund, 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
MuniHoldings Fund, Inc.
Date: September 20, 2006
By: /s/ Donald C. Burke
-----------------------
Donald C. Burke
Chief Financial Officer
MuniHoldings Fund, Inc.
Date: September 20, 2006