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 811-5611
Name of Fund: MuniVest 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, MuniVest 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: 08/31/2006
Date of reporting period: 03/01/06 - 05/31/06
Item 1 - Schedule of Investments
MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
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Alabama - 2.8% $ 2,550 Camden, Alabama, IDB, Exempt Facilities Revenue Bonds (Weyerhaeuser Company),
Series A, 6.125% due 12/01/2024 $ 2,765
3,500 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series A, 5.75%
due 6/01/2031 3,666
5,000 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series B, 5.75%
due 6/01/2032 5,295
5,000 Selma, Alabama, IDB, Environmental Improvement Revenue Refunding Bonds
(International Paper Company Project), Series B, 5.50% due 5/01/2020 5,221
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Alaska - 1.4% 3,575 Anchorage, Alaska, Lease Revenue Bonds (Correctional Facility), 6% due 2/01/2010
(a)(i) 3,850
3,830 Anchorage, Alaska, Lease Revenue Bonds (Correctional Facility), 6% due 2/01/2010
(a)(i) 4,125
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Arizona - 1.6% 4,100 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project 1), Series A, 6.75% due 7/01/2029 4,085
2,100 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project), Series E, 7.25% due 7/01/2031 2,255
500 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project), Series I, 6.10% due 7/01/2024 514
1,000 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project), Series I, 6.30% due 7/01/2031 1,029
1,610 Pima County, Arizona, IDA, Education Revenue Refunding Bonds (Arizona Charter
Schools Project II), Series A, 6.75% due 7/01/2021 1,696
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California - 17.0% 5,000 California Health Facilities Financing Authority Revenue Bonds (Kaiser
Permanente), Series A, 5.25% due 4/01/2039 5,170
1,360 California State, GO, 5.50% due 4/01/2014 (a) 1,507
12,210 California State, GO, 5.50% due 4/01/2030 13,209
5,000 California State Public Works Board, Lease Revenue Bonds (Department of
Corrections), Series C, 5.50% due 6/01/2022 5,378
6,000 California State Public Works Board, Lease Revenue Bonds (Department of
Corrections), Series C, 5.50% due 6/01/2023 6,446
11,075 California State Public Works Board, Lease Revenue Bonds (Department of Mental
Health - Coalinga State Hospital), Series A, 5.125% due 6/01/2029 11,371
11,250 California State, Various Purpose, GO, 5.50% due 11/01/2033 12,147
5,240 California Statewide Communities Development Authority, Health Facility Revenue
Bonds (Memorial Health Services), Series A, 6% due 10/01/2023 5,686
1,250 Chula Vista, California, IDR (San Diego Gas and Electric Company), AMT, Series B,
5% due 12/01/2027 1,260
10,725 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-3, 7.875% due 6/01/2042 12,807
3,750 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-4, 7.80% due 6/01/2042 4,461
1,425 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series A-5, 7.875% due 6/01/2042 1,702
13,900 Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds, Series B, 5.375% due 6/01/2010 (a) 14,771
6,000 Sacramento, California, Municipal Utility District, Electric Revenue Refunding
Bonds, Series T, 5% due 5/15/2030 (f) 6,182
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Portfolio Abbreviations
To simplify the listings of MuniVest 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)
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, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
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Colorado - 0.7% $ 695 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2,
6.60% due 5/01/2028 $ 716
250 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2,
7.50% due 4/01/2031 259
3,000 Colorado Health Facilities Authority Revenue Bonds (Lutheran Medical Center),
Series A, 5.25% due 6/01/2034 3,060
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Connecticut - 0.5% 2,810 Mohegan Tribe Indians Gaming Authority, Connecticut, Public Improvement Revenue
Refunding Bonds (Priority Distribution), 6.25% due 1/01/2031 2,992
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Florida - 3.9% 6,000 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), Series C, 5.25% due 11/15/2036 6,205
6,000 Highlands County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), Series D, 5.375% due 11/15/2035 6,205
10,320 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds
(Adventist Health System), 5.625% due 11/15/2032 10,899
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Georgia - 3.2% 250 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series W,
6.60% due 1/01/2018 (e) 289
4,600 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series W,
6.60% due 1/01/2018 5,297
250 Georgia Municipal Electric Authority, Power Revenue Refunding Bonds, Series Y,
10% due 1/01/2010 (e) 301
4,390 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds
(Georgia College and State University Foundation), 5.50% due 9/01/2024 4,562
3,500 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds
(Georgia College and State University Foundation), 5.625% due 9/01/2030 3,653
4,785 Monroe County, Georgia, Development Authority, PCR, Refunding (Oglethorpe Power
Corporation-Scherer), Series A, 6.80% due 1/01/2011 5,318
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Idaho - 0.1% 675 Idaho Housing Agency, S/F Mortgage Revenue Refunding Bonds, AMT, Series E-2,
6.90% due 1/01/2027 676
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Illinois - 16.6% 5,000 Chicago, Illinois, O'Hare International Airport, General Airport Revenue
Refunding Bonds, Third Lien, AMT, Series A, 5.75% due 1/01/2019 (c) 5,338
8,540 Chicago, Illinois, O'Hare International Airport Revenue Bonds, DRIVERS, AMT,
Series 368, 8.17% due 7/01/2011 (c)(m) 10,262
11,200 Chicago, Illinois, O'Hare International Airport Revenue Bonds, Third Lien, AMT,
Series B-2, 6% due 1/01/2029 (n) 12,299
7,000 Chicago, Illinois, O'Hare International Airport, Revenue Refunding Bonds,
DRIVERS, AMT, Series 253, 7.676% due 1/01/2020 (c)(m) 7,948
80 Chicago, Illinois, S/F Mortgage Revenue Bonds, AMT, Series C, 7%
due 3/01/2032 (d)(k) 82
10,000 Hodgkins, Illinois, Environmental Improvement Revenue Bonds (Metro Biosolids
Management LLC Project), AMT, 6% due 11/01/2023 10,478
2,140 Illinois Development Finance Authority Revenue Bonds (Community Rehabilitation
Providers Facilities), Series A, 6.50% due 7/01/2022 2,298
1,365 Illinois Development Finance Authority, Revenue Refunding Bonds (Community
Rehabilitation Providers Facilities), Series A, 6% due 7/01/2015 1,394
455 Illinois HDA, Revenue Refunding Bonds (M/F Program), Series 5, 6.75% due 9/01/2023 457
5,245 Kane and De Kalb Counties, Illinois, Community Unit School District Number 302,
GO, DRIVERS, Series 283, 7.706% due 2/01/2018 (f)(m) 6,323
5,000 McLean and Woodford Counties, Illinois, Community Unit, School District
Number 005, GO, Refunding, 6.25% due 12/01/2014 (i) 5,585
4,000 McLean and Woodford Counties, Illinois, Community Unit, School District
Number 005, GO, Refunding, 6.375% due 12/01/2016 (i) 4,497
18,550 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue
Refunding Bonds (McCormick Place Expansion Project), Series B, 5.75%
due 6/15/2023 (c) 20,307
3,500 Regional Transportation Authority, Illinois, Revenue Bonds, Series A, 7.20%
due 11/01/2020 (h) 4,285
4,000 Regional Transportation Authority, Illinois, Revenue Bonds, Series C, 7.75%
due 6/01/2020 (f) 5,364
55 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2010 (a)(i) 61
375 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2010 (a)(i) 417
440 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2010 (a)(i) 489
605 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2010 (a)(i) 672
505 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2013 (i) 557
395 Will County, Illinois, School District Number 122 (New Lenox Elementary), GO,
Series A, 6.50% due 11/01/2015 (i) 436
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MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
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Indiana - 7.8% $ 5,000 Delaware County, Indiana, Hospital Authority, Hospital Revenue Bonds (Cardinal
Health System Obligated Group), 5.125% due 8/01/2029 $ 4,963
8,350 Indiana Health and Educational Facilities Financing Authority, Hospital Revenue
Bonds (Clarian Health Obligation), Series A, 5.25% due 2/15/2040 8,558
4,290 Indiana State HFA, S/F Mortgage Revenue Refunding Bonds, Series A, 6.80%
due 1/01/2017 (j) 4,299
8,195 Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A, 6.80%
due 12/01/2016 9,608
15,335 Indianapolis, Indiana, Local Public Improvement Bond Bank Revenue Refunding Bonds,
Series D, 6.75% due 2/01/2014 17,487
1,870 Vanderburgh County, Indiana, Redevelopment Commission, Redevelopment District Tax
Allocation Bonds, 5% due 2/01/2026 1,876
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Kansas - 0.7% 3,805 Sedgwick and Shawnee Counties, Kansas, S/F Mortgage Revenue Bonds (Mortgage
Backed Securities Program), AMT, Series A-4, 5.95% due 12/01/2033 (d) 3,900
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Louisiana - 5.0% 10,575 Louisiana Local Government, Environmental Facilities, Community Development
Authority Revenue Bonds (Capital Projects and Equipment Acquisition), Series A,
6.30% due 7/01/2030 (h) 11,726
6,220 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan
Missionaries of Our Lady Health System, Inc.), Series A, 5% due 8/15/2033 6,238
11,660 Louisiana Public Facilities Authority, Hospital Revenue Bonds (Franciscan
Missionaries of Our Lady Health System, Inc.), Series A, 5.25% due 8/15/2036 11,924
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Maine - 0.3% 775 Portland, Maine, Housing Development Corporation, Senior Living Revenue Bonds
(Avesta Housing Development Corporation Project), Series A, 5.70% due 8/01/2021 795
1,190 Portland, Maine, Housing Development Corporation, Senior Living Revenue Bonds
(Avesta Housing Development Corporation Project), Series A, 6% due 2/01/2034 1,227
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Massachusetts - 9.3% 2,035 Boston, Massachusetts, Water and Sewer Commission Revenue Bonds, 9.25%
due 1/01/2011 (e) 2,447
3,010 Massachusetts Bay Transportation Authority, Revenue Refunding Bonds (General
Transportation System), Series A, 7% due 3/01/2019 3,663
10,000 Massachusetts State School Building Authority, Dedicated Sales Tax Revenue Bonds,
DRIVERS, VRDN, Series 1052, 6.323% due 8/15/2013 (i)(m) 10,669
30,000 Massachusetts State Water Resource Authority, Revenue Bonds, Series A, 6.50%
due 7/15/2019 35,132
1,000 Massachusetts State Water Resource Authority, Revenue Refunding Bonds, Series A,
6% due 8/01/2010 (a)(f) 1,092
2,480 Massachusetts State Water Resource Authority, Revenue Refunding Bonds, Series A,
6% due 8/01/2010 (a)(f) 2,708
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Michigan - 3.3% 7,695 Delta County, Michigan, Economic Development Corporation, Environmental
Improvement Revenue Refunding Bonds (Mead Westvaco-Escanaba), Series A, 6.25%
due 4/15/2012 (a) 8,656
3,715 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds
(Mount Clemens General Hospital), Series B, 5.75% due 11/15/2025 3,864
4,250 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds
(Mount Clemens General Hospital), Series B, 5.875% due 11/15/2034 4,487
1,900 Michigan State Hospital Finance Authority, Hospital Revenue Refunding Bonds
(Crittenton Hospital), Series A, 5.625% due 3/01/2027 1,999
1,000 Michigan State Hospital Finance Authority, Revenue Refunding Bonds
(Sinai Hospital), 6.70% due 1/01/2026 1,017
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Minnesota - 1.5% 7,235 Minneapolis, Minnesota, Health Care System Revenue Bonds (Allina Health System),
Series A, 5.75% due 11/15/2032 7,641
1,405 Saint Cloud, Minnesota, Health Care Revenue Refunding Bonds (Saint Cloud Hospital
Obligation Group), Series A, 6.25% due 5/01/2017 (i) 1,537
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Mississippi - 6.2% 9,160 Lowndes County, Mississippi, Solid Waste Disposal and PCR, Refunding
(Weyerhaeuser Company Project), Series A, 6.80% due 4/01/2022 10,878
4,500 Lowndes County, Mississippi, Solid Waste Disposal and PCR, Refunding
(Weyerhaeuser Company Project), Series B, 6.70% due 4/01/2022 5,297
20,705 Mississippi Business Finance Corporation, Mississippi, PCR, Refunding (System
Energy Resources Inc. Project), 5.875% due 4/01/2022 20,840
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Missouri - 0.5% 2,600 Missouri State Development Finance Board, Infrastructure Facilities Revenue
Refunding Bonds (Branson), Series A, 5.50% due 12/01/2032 2,674
250 Missouri State Housing Development Commission, S/F Mortgage Revenue Bonds
(Homeowner Loan), AMT, Series A, 7.50% due 3/01/2031 (d) 262
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Montana - 1.0% 6,000 Forsyth, Montana, PCR, Refunding (Portland General Electric Company), Series A,
5.20% due 5/01/2033 6,175
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Nebraska - 0.1% 490 Nebraska Investment Finance Authority, S/F Housing Revenue Bonds, AMT, Series C,
6.30% due 9/01/2028 (d)(k) 492
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MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
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Nevada - 0.8% $ 3,475 Nevada Housing Division, Multi-Unit Housing Revenue Bonds (Arville Electric
Project), AMT, 6.60% due 10/01/2023 (b) $ 3,548
1,200 Nevada Housing Division Revenue Bonds (Multi-Unit Housing), AMT, Issue B, 7.45%
due 10/01/2017 (b) 1,207
75 Nevada Housing Division Revenue Bonds (S/F Program), AMT, Senior Series E, 7%
due 10/01/2019 (j) 75
20 Nevada Housing Division Revenue Bonds (S/F Program), AMT, Series A, 6.55%
due 10/01/2012 (j) 20
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New Hampshire - 0.7% 1,275 New Hampshire Health and Education Facilities Authority, Hospital Revenue Bonds
(Catholic Medical Center), 5% due 7/01/2032 1,277
2,675 New Hampshire Health and Education Facilities Authority, Revenue Refunding Bonds
(Elliot Hospital), Series B, 5.60% due 10/01/2022 2,813
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New Jersey - 7.5% 9,080 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 9,448
2,885 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2029 3,062
2,855 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2031 2,964
6,695 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75% due 6/15/2034 7,060
9,705 New Jersey EDA, School Facilities Construction Revenue Bonds, Series O,
5.125% due 3/01/2028 10,047
2,675 New Jersey EDA, School Facilities Construction Revenue Bonds, Series P,
5.25% due 9/01/2026 2,834
8,480 Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed Revenue
Bonds, 7% due 6/01/2041 9,605
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New Mexico - 0.6% 3,300 Farmington, New Mexico, PCR, Refunding (Public Service Company of New Mexico -
San Juan Project), Series A, 5.80% due 4/01/2022 3,344
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New York - 17.8% 400 Metropolitan Transportation Authority, New York, Dedicated Tax Fund, Revenue
Refunding Bonds, VRDN, Series B, 3.40% due 11/01/2022 (i)(l) 400
9,925 Metropolitan Transportation Authority, New York, Revenue Bonds, Series B, 5%
due 11/15/2035 (c) 10,242
6,000 Metropolitan Transportation Authority, New York, Revenue Refunding Bonds,
Series A, 5.125% due 11/15/2031 6,204
6,750 Metropolitan Transportation Authority, New York, Transportation Revenue Refunding
Bonds, Series F, 5% due 11/15/2030 6,883
16,700 New York City, New York, City Municipal Financing Authority, Water and Sewer
Systems Revenue Bonds, Series B, 5% due 6/15/2036 17,178
7,500 New York City, New York, City Municipal Water Finance Authority, Water and Sewer
System, Revenue Refunding Bonds, Series C, 5% due 6/15/2031 7,714
7,875 New York City, New York, City Transitional Finance Authority Revenue Bonds, RIB,
Series 283, 8.74% due 11/15/2015 (m) 9,489
965 New York City, New York, GO, Refunding, Series A, 6.375% due 5/15/2014 (f) 1,064
7,150 New York City, New York, GO, Series F, 5.25% due 1/15/2033 7,437
360 New York City, New York, GO, Series I, 6.25% due 4/15/2007 (a)(n) 372
20 New York City, New York, GO, Series I, 6.25% due 4/15/2017 (n) 21
6,000 New York City, New York, GO, Sub-Series I-1, 5% due 4/01/2024 6,188
4,250 New York City, New York, GO, Sub-Series I-1, 5% due 4/01/2025 4,376
11,600 New York Liberty Development Corporation, Revenue Bonds (Goldman Sachs
Headquarters), 5.25% due 10/01/2035 12,570
1,000 New York State Dormitory Authority, Revenue Refunding Bonds (Mount Sinai Health),
Series A, 6.50% due 7/01/2025 1,070
11,875 New York State Dormitory Authority, Revenue Refunding Bonds, RIB, Series 305,
8.24% due 5/15/2015 (c)(m) 14,031
400 New York State Local Government Assistance Corporation, Revenue Refunding Bonds,
Sub-Lien, VRDN, Series 4V, 3.47% due 4/01/2022 (i)(l) 400
1,200 Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue
Refunding Bonds, VRDN, Series C, 3.41% due 1/01/2032 (h)(l) 1,200
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North Carolina - 0.7% 4,105 Gaston County, North Carolina, Industrial Facilities and Pollution Control
Financing Authority, Revenue Bonds (National Gypsum Company Project), AMT,
5.75% due 8/01/2035 4,293
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Oregon - 0.6% 3,305 Portland, Oregon, Sewer System Revenue Bonds, RIB, Series 386, 7.72%
due 8/01/2020 (f)(m) 3,815
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Pennsylvania - 4.1% 2,440 Pennsylvania State Higher Education Assistance Agency Revenue Bonds, Capital
Acquisition, 6.125% due 12/15/2010 (a)(c) 2,679
6,250 Pennsylvania State Higher Educational Facilities Authority Revenue Bonds
(University of Pennsylvania Medical Center Health System), Series A,
6% due 1/15/2031 6,764
1,000 Philadelphia, Pennsylvania, Authority for Industrial Development, Senior Living
Revenue Bonds (Arbor House Inc. Project), Series E, 6.10% due 7/01/2033 1,037
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MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 1,355 Philadelphia, Pennsylvania, Authority for Industrial Development, Senior Living
Revenue Bonds (Rieder House Project), Series A, 6.10% due 7/01/2033 $ 1,405
9,280 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Bonds (Guthrie
Healthcare System), Series B, 7.125% due 12/01/2031 10,901
1,750 Sayre, Pennsylvania, Health Care Facilities Authority, Revenue Refunding Bonds
(Guthrie Healthcare System), Series A, 6.25% due 12/01/2018 1,905
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South Carolina - 2.1% 1,000 Georgetown County, South Carolina, Environmental Improvement Revenue Refunding
Bonds (International Paper Company Project), AMT, Series A, 5.55% due 12/01/2029 1,032
3,500 Lexington County, South Carolina, Health Services District Inc., Hospital Revenue
Refunding and Improvement Bonds, 5.50% due 11/01/2032 3,625
2,450 Medical University Hospital Authority, South Carolina, Hospital Facilities
Revenue Refunding Bonds, 6.50% due 8/15/2012 (a) 2,803
5,000 Richland County, South Carolina, Environmental Improvement Revenue Refunding
Bonds (International Paper), AMT, 6.10% due 4/01/2023 5,382
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Tennessee - 1.6% 2,000 McMinn County, Tennessee, IDB, Solid Waste Revenue Bonds (Recycling
Facility-Calhoun Newsprint), AMT, 7.40% due 12/01/2022 2,000
2,380 Shelby County, Tennessee, Health, Educational and Housing Facility Board,
Hospital Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (a) 2,725
4,120 Shelby County, Tennessee, Health, Educational and Housing Facility Board,
Hospital Revenue Refunding Bonds (Methodist Healthcare), 6.50% due 9/01/2012 (a) 4,717
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Texas - 19.7% 6,000 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.),
First Tier, Series A, 6.70% due 1/01/2028 6,377
1,290 Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.),
First Tier, Series A, 6.70% due 1/01/2032 1,361
3,055 Brazos River Authority, Texas, PCR, Refunding (Texas Utility Company), AMT,
Series A, 7.70% due 4/01/2033 3,564
11,870 Brazos River Authority, Texas, PCR, Refunding (Utilities Electric Company), AMT,
Series B, 5.05% due 6/01/2030 11,874
11,460 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 12,757
3,000 Gregg County, Texas, Health Facilities Development Corporation, Hospital Revenue
Bonds (Good Shepherd Medical Center Project), 6.875% due 10/01/2020 (g) 3,332
10,250 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 10,470
6,000 Gulf Coast, Texas, Waste Disposal Authority Revenue Refunding Bonds
(International Paper Company), AMT, Series A, 6.10% due 8/01/2024 6,422
10,485 Harris County, Texas, Health Facilities Development Corporation, Revenue
Refunding Bonds, DRIVERS, Series 1018, 7.70% due 7/01/2010 (m) 13,919
5,500 Harris County-Houston Sports Authority, Texas, Revenue Refunding Bonds, Senior
Lien, Series G, 5.75% due 11/15/2020 (c) 5,951
1,795 Houston, Texas, Industrial Development Corporation Revenue Bonds (Air Cargo),
AMT, 6.375% due 1/01/2023 1,913
2,030 Mansfield, Texas, Independent School District, GO, Refunding, 6.625% due 2/15/2015 2,226
9,355 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds
(Centerpoint Energy Project), 5.60% due 3/01/2027 9,760
5,225 Midway, Texas, Independent School District, GO, Refunding, 6.125% due 8/15/2014 5,680
2,700 Port Corpus Christi, Texas, Revenue Refunding Bonds (Celanese Project), Series A,
6.45% due 11/01/2030 2,863
5,000 Red River Authority, Texas, PCR, Refunding (Celanese Project), AMT, Series B,
6.70% due 11/01/2030 5,362
7,280 Sabine River Authority, Texas, PCR, Refunding (TXU Electric Company Project/TXU
Energy Company LLC), Series C, 5.20% due 5/01/2028 7,410
6,250 San Antonio, Texas, Electric and Gas Revenue Bonds, RIB, Series 469x, 7.77%
due 2/01/2014 (m) 7,112
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Vermont - 0.2% 1,000 Vermont Educational and Health Buildings Financing Agency, Developmental and
Mental Health Revenue Bonds (Howard Center for Human Services), Series A,
6.375% due 6/15/2022 1,048
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Virginia - 0.3% 1,425 Chesterfield County, Virginia, IDA, PCR (Virginia Electric and Power Company),
Series A, 5.875% due 6/01/2017 1,532
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Washington - 8.1% 5,330 Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS,
Series 248, 7.706% due 7/01/2018 (c)(m) 6,316
3,510 Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS,
Series 255, 8.203% due 7/01/2018 (h)(m) 4,261
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MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
Face
State Amount Municipal Bonds Value
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$ 7,350 Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS,
Series 256, 8.206% due 7/01/2017 (c)(m) $ 8,965
2,400 Seattle, Washington, Housing Authority Revenue Bonds (Replacement Housing
Project), 6.125% due 12/01/2032 2,368
8,100 Washington State, GO, Trust Receipts, Class R, Series 6, 8.197%
due 1/01/2014 (i)(m) 9,322
14,320 Washington State Public Power Supply System, Revenue Refunding Bonds (Nuclear
Project Number 1), Series B, 7.125% due 7/01/2016 17,509
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Wisconsin - 2.4% 4,015 Badger Tobacco Asset Securitization Corporation, Wisconsin, Asset-Backed Revenue
Bonds, 6.125% due 6/01/2027 4,240
1,765 Milwaukee, Wisconsin, Revenue Bonds (Air Cargo), AMT, 6.50% due 1/01/2025 1,894
5,000 Wisconsin State Health and Educational Facilities Authority, Mortgage Revenue
Bonds (Hudson Memorial Hospital), 5.70% due 1/15/2029 (j) 5,237
3,040 Wisconsin State Health and Educational Facilities Authority Revenue Bonds
(Synergyhealth Inc.), 6% due 11/15/2032 3,257
---------------------------------------------------------------------------------------------------------------------------------
U.S. Virgin Islands - 8,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds (Hovensa
1.5% Coker Project), AMT, 6.50% due 7/01/2021 8,980
---------------------------------------------------------------------------------------------------------------------------------
Total Municipal Bonds (Cost - $860,989) - 152.2% 913,218
---------------------------------------------------------------------------------------------------------------------------------
Shares
Held Short-Term Securities
---------------------------------------------------------------------------------------------------------------------------------
18,600 Merrill Lynch Institutional Tax-Exempt Fund, 3.31% (o)(p) 18,600
---------------------------------------------------------------------------------------------------------------------------------
Total Short-Term Securities (Cost - $18,600) - 3.1% 18,600
---------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $879,589*) - 155.3% 931,818
Other Assets Less Liabilities - 0.4% 2,389
Preferred Stock, at Redemption Value - (55.7%) (334,313)
---------
Net Assets Applicable to Common Stock - 100.0% $ 599,894
=========
* The cost and unrealized appreciation (depreciation) of investments as of
May 31, 2006, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 879,662
=========
Gross unrealized appreciation $ 53,416
Gross unrealized depreciation (1,260)
---------
Net unrealized appreciation $ 52,156
=========
(a) Prerefunded.
(b) FNMA Collateralized.
(c) MBIA Insured.
(d) FNMA/GNMA Collateralized.
(e) Escrowed to maturity.
(f) FGIC Insured.
(g) Radian Insured.
(h) AMBAC Insured.
(i) FSA Insured.
(j) FHA Insured.
(k) FHLMC Collateralized.
(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.
(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) Represents the current yield as of 5/31/2006.
MuniVest Fund, Inc.
Schedule of Investments as of May 31, 2006 (in Thousands)
(p) 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:
Affiliate Net Activity Dividend Income
--------------------------------------------------------------------------------------------
Merrill Lynch Institutional
Tax-Exempt Fund 18,600 $ 48
--------------------------------------------------------------------------------------------
o Forward interest rate swaps outstanding as of May 31, 2006 were as
follows:
--------------------------------------------------------------------------------------------
Notional Unrealized
Amount Appreciation
--------------------------------------------------------------------------------------------
Receive a variable rate equal to 7-Day Bond
Market Association Municipal Swap
Index Rate and pay a fixed rate of 4.168%
Broker, JPMorgan Chase Bank
Expires June 2026 $ 25,000 $ 609
Receive a variable rate equal to 7-Day Bond
Market Association Municipal Swap
Index Rate and pay a fixed rate of 4.231%
Broker, JPMorgan Chase Bank
Expires June 2026 $ 12,500 204
--------------------------------------------------------------------------------------------
Total $ 813
========
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, Inc.
By: /s/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
MuniVest Fund, Inc.
Date: August 1, 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, Inc.
Date: August 1, 2006
By: /s/ Donald C. Burke
---------------------------
Donald C. Burke
Chief Financial Officer
MuniVest Fund, Inc.
Date: August 1, 2006