MUC - BlackRock MuniHoldings California Quality Fund

What this means for you

Karpus owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.

Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.

Email me if this changes

What happened, and when

1. Sept 10, 2026

   The fund said it will repay some borrowed money on Oct 2, 2026.

   Original document →

2. March 6, 2026

   Karpus sold down below 5% and stopped reporting.

   Original document →

3. Feb 27, 2026

   The fund said it will repay some borrowed money on April 1, 2026.

   Original document →

4. Nov 14, 2025

   Karpus raised its stake to 5.1% (from 5%), as a passive investor.

   Original document →

5. Oct 14, 2025

   The fund said it may sell new shares.

   Original document →

About this fund

• Run by BlackRock Advisors, LLC. Part of the BlackRock-advised Funds fund family. As of July 31, 2025, from the fund's yearly report. Original document →
• Size: about $1.46 billion of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 41% on top of its own money, as of April 30, 2026. Borrowed money makes gains and losses bigger. About 68% of that is money the fund has borrowed by selling preferred shares. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.2% a year in management fees; 3.2% a year in total, including interest on borrowed money. Fiscal year ended July 31, 2025. As of July 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended July 31, 2025) the fund paid $0.63 a share. $0.43 of that was income; $0.20 was your own money back, not income. As of July 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (July 31, 2025): $11.36. The shares traded at $10.44, about 8.1% below that. As of July 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 0.2% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +6.7%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended July 31, 2025): the value of the holdings returned -6%. How the share price did: the shares returned -4.4% over the same year, counting payouts and the change in the market price. As of July 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 1997.

What the fund holds

Mostly tax-free municipal bonds (94%), the rest cash and short-term holdings. About 100% issued in the U.S.

1. Cash and short-term - 9.7%
2. California Community Choice Financing Authority, California Cmnty Choice Fing Auth Clean Energy Proj Revenue - 18.7%
3. University of California, Univ of California CA Revenues - 4%
4. Golden State Tobacco Securitization, Golden St Tobacco Securitization Corp CA Tobacco Settlement - 2.7%
5. San Francisco City & County Airport Comm-San Francisco International Airport, San Francisco Calif City &Cnty Arpts Commn Intl Arpt Rev - 3.6%
6. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, Puerto Rico Sales Tax Fing Corp Sales Tax Revenue - 2%
7. Los Angeles Unified School District/CA, Los Angeles CA Unif Sch Dist - 1.8%
8. City of Los Angeles Department of Airports, Los Angeles CA Dept of Arpts Arpt Revenue - 3.2%
9. San Francisco City & County Airport Comm-San Francisco International Airport, San Francisco CA City &Cnty Arpts Commn Intl Arpt Rev - 1.7%
10. California Infrastructure & Economic Development Bank, California St Infrastructure & Econ Dev Bank Revenue - 1.7%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →