UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-7478
Name of Fund: MuniVest Fund II, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., President, MuniVest
Fund II, Inc., 800 Scudders Mill Road, Plainsboro, NJ 08536. Mailing
address: P.O. Box 9011, Princeton, NJ 08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 10/31/05
Date of reporting period: 11/01/04 - 1/31/05
Item 1 - Schedule of Investments
MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (in Thousands)
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Face
State Amount Municipal Bonds Value
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Alabama - 1.9% $ 5,500 Huntsville, Alabama, Health Care Authority Revenue Bonds, Series B, 5.75%
due 6/01/2032 $ 5,838
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Arizona - 2.3% 1,000 Maricopa County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools
Project 1), Series A, 6.75% due 7/01/2029 994
1,200 Maricopa County, Arizona, Pollution Control Corporation, PCR, Refunding (El Paso
Electric Company Project), Series A, 6.25% due 5/01/2037 1,220
2,315 Maricopa County, Arizona, Tempe Elementary Unified School District Number 3, GO,
Refunding, 7.50% due 7/01/2010 (c) 2,823
2,000 Pima County, Arizona, IDA, Education Revenue Bonds (Arizona Charter Schools Project),
Series C, 6.75% due 7/01/2031 2,071
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California - 12.8% 5,000 California State, GO, Refunding, 5% due 3/01/2034 (a) 5,228
California State, Various Purpose, GO:
3,300 5.50% due 4/01/2028 3,601
4,145 5.50% due 4/01/2030 4,509
5,000 5.50% due 11/01/2033 5,414
4,965 California State, Various Purpose, GO, Refunding, 5% due 6/01/2031 (a) 5,196
Golden State Tobacco Securitization Corporation of California, Tobacco Settlement
Revenue Bonds:
4,310 Series A-3, 7.875% due 6/01/2042 4,812
3,750 Series B, 5.375% due 6/01/2028 3,933
6,200 Series B, 5.50% due 6/01/2033 6,653
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Colorado - 3.4% 335 Colorado HFA, Revenue Refunding Bonds (S/F Program), AMT, Senior Series A-2, 7.50%
due 4/01/2031 343
Elk Valley, Colorado, Public Improvement Revenue Bonds (Public Improvement Fee):
3,025 Series A, 7.35% due 9/01/2031 3,237
1,000 Series B, 7% due 9/01/2031 1,030
1,325 North Range, Colorado, Metropolitan District Number 1, GO, 7.25% due 12/15/2031 1,337
3,300 Plaza Metropolitan District No. 1, Colorado, Tax Allocation Revenue Bonds (Public
Improvement Fees), 8% due 12/01/2025 3,455
1,000 Southlands, Colorado, Medical District, GO (Metropolitan District # 1), 7%
due 12/01/2024 1,030
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Connecticut - 1.1% 1,165 Connecticut State Development Authority, Airport Facility Revenue Bonds (LearJet Inc.
Project), AMT, 7.95% due 4/01/2026 1,359
2,000 Mohegan Tribe Indians Gaming Authority, Connecticut, Public Improvement Revenue
Refunding Bonds (Priority Distribution), 6.25% due 1/01/2031 2,124
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Florida - 4.8% Fiddlers Creek, Florida, Community Development District Number 2, Special Assessment
Revenue Bonds:
2,350 Series A, 6.375% due 5/01/2035 2,428
1,250 Series B, 5.75% due 5/01/2013 1,276
4,000 Midtown Miami, Florida, Community Development District, Special Assessment Revenue
Bonds, Series A, 6.25% due 5/01/2037 4,155
1,280 Orange County, Florida, Health Facilities Authority, Hospital Revenue Bonds (Adventist
Health System), 5.625% due 11/15/2032 1,365
Portfolio Abbreviations
To simplify the listings of MuniVest Fund II, Inc.'s portfolio holdings in the
Schedule of Investments, we have abbreviated the names of many of the securities
according to the list at right.
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
RITR Residual Interest Trust Receipts
S/F Single-Family
VRDN Variable Rate Demand Notes
MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (continued) (in Thousands)
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Face
State Amount Municipal Bonds Value
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Florida (concluded) Orlando, Florida, Urban Community Development District, Capital Improvement Special
Assessment Bonds:
$ 1,135 6.25% due 5/01/2034 $ 1,172
1,000 Series A, 6.95% due 5/01/2033 1,069
90 Panther Trace, Florida, Community Development District, Special Assessment Revenue
Bonds, Series B, 6.50% due 5/01/2009 91
970 Park Place Community Development District, Florida, Special Assessment Revenue Bonds,
6.75% due 5/01/2032 1,025
975 Preserve at Wilderness Lake, Florida, Community Development District, Capital
Improvement Bonds, Series A, 7.10% due 5/01/2033 1,039
985 Vista Lakes Community, Florida, Development District, Capital Improvement Revenue
Bonds, Series B, 5.80% due 5/01/2008 993
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Georgia - 5.7% 1,655 Atlanta, Georgia, Tax Allocation Bonds (Atlantic Station Project), 7.25%
due 12/01/2005 1,677
2,000 Atlanta, Georgia, Tax Allocation Revenue Bonds (Atlantic Station Project), 7.90%
due 12/01/2024 2,183
1,225 Brunswick & Glynn County, Georgia, Development Authority, First Mortgage Revenue Bonds
(Coastal Community Retirement Corporation Project), Series A, 7.125% due 1/01/2025 1,220
2,000 Fulton County, Georgia, Residential Care Facilities, Revenue Refunding Bonds
(Canterbury Court Project), Series A, 6.125% due 2/15/2026 2,021
Georgia Municipal Electric Authority, Power Revenue Refunding Bonds:
5,620 Series W, 6.60% due 1/01/2018 6,840
380 Series W, 6.60% due 1/01/2018 (b) 463
1,250 Series X, 6.50% due 1/01/2020 1,535
1,350 Milledgeville-Baldwin County, Georgia, Development Authority Revenue Bonds (Georgia
College and State University Foundation), 5.50% due 9/01/2024 1,436
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Idaho - 0.1% 405 Idaho Housing Agency, S/F Mortgage Revenue Refunding Bonds, AMT, Series E-2, 6.90%
due 1/01/2027 410
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Illinois - 17.4% 5,570 Chicago, Illinois, O'Hare International Airport, General Revenue Refunding Bonds,
Third Lien, Series A, 5% due 1/01/2030 (h) 5,782
3,000 Chicago, Illinois, O'Hare International Airport, Revenue Refunding Bonds, DRIVERS,
AMT, Series 253, 9.319% due 1/01/2020 (h)(l) 3,679
4,000 Chicago, Illinois, O'Hare International Airport, Special Facility Revenue Refunding
Bonds (American Airlines Inc. Project), 8.20% due 12/01/2024 3,417
385 Chicago, Illinois, S/F Mortgage Revenue Bonds, AMT, Series C, 7% due 3/01/2032 (e)(f) 386
800 Chicago, Illinois, Special Assessment Bonds (Lake Shore East), 6.75% due 12/01/2032 830
1,000 Chicago, Illinois, Tax Allocation Bonds (Kingsbury Redevelopment Project), Series A,
6.57% due 2/15/2013 1,048
2,800 Hodgkins, Illinois, Environmental Improvement Revenue Bonds (Metro Biosolids Management
LLC Project), AMT, 6% due 11/01/2023 2,935
1,000 Illinois Development Finance Authority Revenue Bonds (Community Rehabilitation
Providers Facility), Series A, 6.50% due 7/01/2022 1,070
2,500 Illinois Development Finance Authority, Revenue Refunding Bonds (Community
Rehabilitation Providers), Series A, 6% due 7/01/2015 2,606
3,325 Illinois Educational Facilities Authority Revenue Bonds (University of Chicago),
Series A, 5% due 7/01/2033 3,445
3,505 Illinois HDA, Revenue Refunding Bonds (M/F Program), Series 5, 6.75% due 9/01/2023 3,582
2,600 Kane and DeKalb Counties, Illinois, Community Unit School District Number 302, GO,
DRIVERS, Series 283, 9.35% due 2/01/2018 (c)(l) 3,431
2,000 McLean and Woodford Counties, Illinois, Community Unit, School District Number 005,
GO, Refunding, 6.375% due 12/01/2016 (g) 2,375
3,200 Metropolitan Pier and Exposition Authority, Illinois, Dedicated State Tax Revenue
Refunding Bonds, DRIVERS, Series 269, 9.224% due 6/15/2023 (h)(l) 4,187
MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (continued) (in Thousands)
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Face
State Amount Municipal Bonds Value
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Illinois (concluded) Regional Transportation Authority, Illinois, Revenue Bonds:
$ 1,500 Series A, 7.20% due 11/01/2020 (a) $ 1,976
7,000 Series A, 6.70% due 11/01/2021 (c) 8,959
2,500 Series C, 7.75% due 6/01/2020 (c) 3,559
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Indiana - 7.6% 5,545 Indiana State HFA, S/F Mortgage Revenue Refunding Bonds, Series A, 6.80%
due 1/01/2017 (d) 5,555
Indiana Transportation Finance Authority, Highway Revenue Bonds, Series A:
470 7.25% due 6/01/2015 (i) 565
1,530 7.25% due 6/01/2015 1,927
3,775 6.80% due 12/01/2016 4,690
8,750 Indianapolis, Indiana, Local Public Improvement Bond Bank, Revenue Refunding Bonds,
Series D, 6.75% due 2/01/2014 10,518
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Louisiana - 6.4% 5,000 Louisiana Local Government, Environmental Facilities, Community Development Authority
Revenue Bonds (Capital Projects and Equipment Acquisition), Series A, 6.30%
due 7/01/2030 (a) 5,484
10,000 Port New Orleans, Louisiana, IDR, Refunding (Continental Grain Company Project),
6.50% due 1/01/2017 10,271
3,600 Sabine River Authority, Louisiana, Water Facilities Revenue Refunding Bonds
(International Paper Company), 6.20% due 2/01/2025 3,826
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Maryland - 1.5% 2,000 Maryland State Energy Financing Administration, Solid Waste Disposal Revenue Bonds,
Limited Obligation (Wheelabrator Water Projects), AMT, 6.45% due 12/01/2016 2,101
1,000 Maryland State Health and Higher Educational Facilities Authority Revenue Bonds
(University of Maryland Medical System), Series B, 7% due 7/01/2022 (c) 1,337
1,245 Montgomery County, Maryland, Special Obligation, GO (West Germantown Development
District), Series A, 6.70% due 7/01/2027 (k) 1,419
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Massachusetts - 4.3% 1,000 Massachusetts State College Building Authority, Project Revenue Refunding Bonds,
Senior-Series A, 7.50% due 5/01/2011 1,238
1,250 Massachusetts State Development Finance Agency, Revenue Refunding Bonds (Eastern
Nazarene College), 5.625% due 4/01/2029 1,127
6,000 Massachusetts State Water Resource Authority Revenue Bonds, Series A, 6.50%
due 7/15/2019 7,383
3,000 Massachusetts State Water Resource Authority, Revenue Refunding Bonds, Series A, 6%
due 8/01/2016 (c) 3,456
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Michigan - 6.7% 1,750 Delta County, Michigan, Economic Development Corporation, Environmental Improvement
Revenue Refunding Bonds (Mead Westvaco-Escanaba), Series A, 6.25% due 4/15/2027 1,997
700 Detroit, Michigan, Sewer Disposal Revenue Bonds, Senior Lien, VRDN, Series A, 1.84%
due 7/01/2033 (g)(j) 700
3,100 Flint, Michigan, Hospital Building Authority, Revenue Refunding Bonds (Hurley Medical
Center), Series A, 6% due 7/01/2020 (m) 3,409
5,320 Macomb County, Michigan, Hospital Finance Authority, Hospital Revenue Bonds (Mount
Clemens General Hospital), Series B, 5.875% due 11/15/2034 5,100
Michigan State Hospital Finance Authority, Revenue Refunding Bonds, Series A:
3,425 (Ascension Health Credit), 6.125% due 11/15/2009 (i) 3,936
2,340 (Detroit Medical Center Obligation Group), 6.50% due 8/15/2018 2,340
3,000 Pontiac, Michigan, Tax Increment Finance Authority, Revenue Refunding Bonds
(Development Area Number 3), 6.375% due 6/01/2031 3,024
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Mississippi - 3.5% Mississippi Business Finance Corporation, Mississippi, PCR, Refunding (System Energy
Resources Inc. Project):
7,200 5.875% due 4/01/2022 7,221
3,465 5.90% due 5/01/2022 3,499
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Missouri - 0.1% 300 Missouri State Housing Development Commission, S/F Mortgage Revenue Bonds
(Homeowner Loan), AMT, Series A, 7.50% due 3/01/2031 (f) 307
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MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (continued) (in Thousands)
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Face
State Amount Municipal Bonds Value
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Nebraska - 0.8% Nebraska Investment Finance Authority, S/F Housing Revenue Bonds, AMT (f):
$ 995 Series C, 6.30% due 9/01/2028 (e) $ 1,021
1,295 Series D, 6.45% due 3/01/2028 1,339
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Nevada - 3.4% 3,500 Clark County, Nevada, Airport System Subordinate Lien Revenue Bonds, Series A-2, 5%
due 7/01/2036 (c) 3,625
3,300 Clark County, Nevada, IDR (Power Company Project), AMT, Series A, 6.70%
due 6/01/2022 (c) 3,371
620 Clark County, Nevada, Improvement District No. 142 Special Assessment, 6.375%
due 8/01/2023 640
110 Nevada Housing Division Revenue Bonds (S/F Program), AMT, Senior Series E, 7%
due 10/01/2019 (d) 112
2,500 Washoe County, Nevada, Gas Facilities Revenue Bonds (Sierra Pacific Power Company),
AMT, 6.65% due 12/01/2017 (a) 2,533
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New Jersey - 5.5% 4,250 New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50% due 6/15/2024 4,454
New Jersey EDA, Retirement Community Revenue Bonds (Cedar Crest Village Inc. Facility),
Series A:
1,335 7.25% due 11/15/2021 1,420
1,100 7.25% due 11/15/2031 1,159
3,000 New Jersey EDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project),
AMT, 6.25% due 9/15/2029 2,387
1,680 New Jersey Health Care Facilities Financing Authority Revenue Bonds (Pascack Valley
Hospital Association), 6.625% due 7/01/2036 1,653
5,580 Tobacco Settlement Financing Corporation of New Jersey Revenue Bonds, 7% due 6/01/2041 5,768
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New Mexico - 1.1% 3,160 Farmington, New Mexico, PCR, Refunding (Tucson Electric Power Co.-San Juan Project),
Series A, 6.95% due 10/01/2020 3,317
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New York - 15.0% New York City, New York, City IDA, Civic Facility Revenue Bonds:
690 Series C, 6.80% due 6/01/2028 716
890 (Special Needs Facility Pooled Program), Series C-1, 6.50% due 7/01/2017 927
1,920 New York City, New York, City IDA, Special Facility Revenue Bonds (British Airways Plc
Project), AMT, 7.625% due 12/01/2032 2,019
7,500 New York City, New York, City Municipal Water Finance Authority, Water and Sewer
System Revenue Refunding Bonds, Series B, 5% due 6/15/2036 7,809
3,375 New York City, New York, City Transitional Finance Authority Revenue Bonds, RIB,
Series 283, 10.36% due 5/15/2010 (l) 4,473
New York City, New York, GO:
6,350 Series D, 5% due 11/01/2034 6,552
3,500 Series F, 5.25% due 1/15/2033 3,695
New York City, New York, GO, Refunding:
2,725 Series A, 6.375% due 5/15/2010 (c)(i) 3,204
530 Series A, 6.375% due 5/15/2015 (c) 619
2,000 Series G, 5% due 12/01/2033 2,064
7,000 New York State Dormitory Authority, Revenue Refunding Bonds, RIB, Series 305, 9.86%
due 5/15/2015 (h)(l) 9,107
1,000 Port Authority of New York and New Jersey, Consolidated Revenue Refunding Bonds, AMT,
136th Series, 5.125% due 5/01/2034 (h) 1,048
1,000 Westchester County, New York, IDA, Civic Facility Revenue Bonds (Special Needs
Facilities Pooled Program), Series E-1, 6.50% due 7/01/2017 1,024
2,690 Westchester County, New York, IDA, Continuing Care Retirement, Mortgage Revenue Bonds
(Kendal on Hudson Project), Series A, 6.50% due 1/01/2034 2,747
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North Carolina - 1.6% 1,400 Haywood County, North Carolina, Industrial Facilities and Pollution Control Financing
Authority Revenue Bonds (Champion International Corporation Project), AMT, 6.25%
due 9/01/2025 1,440
2,000 North Carolina Medical Care Commission, Health Care Housing Revenue Bonds (The ARC of
North Carolina Projects), Series A, 5.80% due 10/01/2034 2,031
MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (continued) (in Thousands)
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Face
State Amount Municipal Bonds Value
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North Carolina $ 1,500 North Carolina Medical Care Commission, Retirement Facilities, First Mortgage
(concluded) Revenue Bonds (Givens Estates Project), Series A, 6.375% due 7/01/2023 $ 1,529
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Pennsylvania - 4.8% 2,000 Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds, RIB,
Series 396, 9.853% due 1/01/2019 (g)(l) 2,521
Montgomery County, Pennsylvania, IDA, Revenue Bonds (Whitemarsh Continuing Care
Project):
470 6.125% due 2/01/2028 473
340 6.25% due 2/01/2035 344
2,000 Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds
(National Gypsum Company), AMT, Series B, 6.125% due 11/01/2027 2,102
1,250 Pennsylvania State Higher Educational Facilities Authority Revenue Bonds (University of
Pennsylvania Medical Center Health System), Series A, 6% due 1/15/2031 1,388
1,265 Philadelphia, Pennsylvania, Authority for IDR, Commercial Development, 7.75%
due 12/01/2017 1,292
Sayre, Pennsylvania, Health Care Facilities Authority Revenue Bonds (Guthrie Health
Issue), Series B:
2,425 5.85% due 12/01/2020 2,638
3,350 7.125% due 12/01/2031 3,975
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Rhode Island - 0.4% 1,140 Rhode Island State Health and Educational Building Corporation, Hospital Financing
Revenue Bonds (Lifespan Obligation Group), 6.50% due 8/15/2032 1,241
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South Carolina - 1.5% 1,200 Lexington County, South Carolina, Health Services District Inc., Hospital Revenue
Bonds (Lexington Medical Center), 5.50% due 5/01/2032 1,264
1,500 Lexington County, South Carolina, Health Services District Inc., Hospital Revenue
Refunding and Improvement Bonds, 5.50% due 11/01/2032 1,575
1,230 Medical University Hospital Authority, South Carolina, Hospital Facilities Revenue
Refunding Bonds, 6.50% due 8/15/2012 (i) 1,490
365 South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds,
AMT, Series A, 6.70% due 7/01/2027 374
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Tennessee - 3.7% 1,000 Johnson City, Tennessee, Health and Educational Facilities Board, Retirement Facility
Revenue Bonds (Appalachian Christian Village Project), Series A, 6% due 2/15/2024 985
4,000 McMinn County, Tennessee, IDB, Solid Waste Revenue Bonds (Recycling Facility-Calhoun
Newsprint), AMT, 7.40% due 12/01/2022 4,018
260 Sevier County, Tennessee, Public Building Authority Revenue Bonds, Local Government
Public Improvement IV, VRDN, Series E-5, 1.84% due 6/01/2020 (a)(j) 260
Shelby County, Tennessee, Health, Educational and Housing Facility Board, Hospital
Revenue Refunding Bonds (Methodist Healthcare):
3,175 6.50% due 9/01/2012 (i) 3,834
1,825 6.50% due 9/01/2026 (b) 2,206
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Texas - 18.6% Austin, Texas, Convention Center Revenue Bonds (Convention Enterprises Inc.), First
Tier, Series A:
1,600 6.70% due 1/01/2028 1,714
4,510 6.70% due 1/01/2032 4,829
1,200 Bell County, Texas, Health Facilities Development Corporation, Hospital Revenue Bonds
(Scott & White Memorial Hospital), VRDN, Series B-2, 1.84% due 8/15/2029 (h)(j) 1,200
Brazos River Authority, Texas, PCR, Refunding AMT:
1,500 (Texas Utility Company), Series A, 7.70% due 4/01/2033 1,784
6,805 (Utilities Electric Company), Series B, 5.05% due 6/01/2030 6,993
1,810 Brazos River Authority, Texas, Revenue Refunding Bonds (Reliant Energy Inc. Project),
Series B, 7.75% due 12/01/2018 2,009
MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (continued) (in Thousands)
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Face
State Amount Municipal Bonds Value
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Texas (concluded) $ 5,800 Brazos River, Texas, Harbor Navigation District, Brazoria County Environmental Revenue
Refunding Bonds (Dow Chemical Company Project), AMT, Series A-7, 6.625% due 5/15/2033 $ 6,411
2,500 Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal Facility
Revenue Bonds (E. I. du Pont de Nemours and Company Project), AMT, 6.40% due 4/01/2026 2,640
5,000 Harris County, Texas, Health Facilities Development Corporation, Revenue Refunding
Bonds, RITR, Series 6, 9.005% due 12/01/2027 (b)(l) 6,964
1,150 Lufkin, Texas, Health Facilities Development Corporation, Health System Revenue Bonds
(Memorial Health System of East Texas), 5.70% due 2/15/2028 1,181
3,440 Matagorda County, Texas, Navigation District Number 1, Revenue Refunding Bonds (Reliant
Energy Inc.), Series C, 8% due 5/01/2029 3,811
3,060 Port Corpus Christi, Texas, Individual Development Corporation, Environmental
Facilities Revenue Bonds (Citgo Petroleum Corporation Project), AMT, 8.25%
due 11/01/2031 3,300
Port Corpus Christi, Texas, Revenue Refunding Bonds (Celanese Project):
2,500 AMT, Series B, 6.70% due 11/01/2030 2,595
1,600 Series A, 6.45% due 11/01/2030 1,627
3,750 San Antonio, Texas, Electric and Gas Revenue Bonds, RIB, Series 469x, 9.39%
due 2/01/2014 (l) 4,729
5,000 University of Texas, Financing System Revenue Refunding Bonds, Series D, 5%
due 8/15/2034 5,212
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Virginia - 3.7% 1,000 Chesterfield County, Virginia, IDA, PCR, Refunding (Virginia Electric and Power
Company), Series B, 5.875% due 6/01/2017 1,110
3,115 Isle of Wight County, Virginia, IDA, Solid Waste Disposal Facilities Revenue Bonds
(Union Camp Corporation Project), AMT, 6.55% due 4/01/2024 3,186
7,415 Pocahontas Parkway Association, Virginia, Toll Road Revenue Bonds, Senior Series A,
5.50% due 8/15/2028 7,103
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Washington - 8.1% 2,425 Chelan County, Washington, Public Utility District Number 001, Consolidated Revenue
Refunding Bonds (Chelan Hydro System), AMT, Series D, 6.35% due 7/01/2028 (h) 2,667
Energy Northwest, Washington, Electric Revenue Refunding Bonds, DRIVERS (l):
2,250 Series 248, 9.35% due 7/01/2018 (h) 2,897
1,125 Series 255, 9.845% due 7/01/2018 (a) 1,485
5,000 Washington State, GO, Trust Receipts, Class R, Series 6, 9.764% due 1/01/2014 (g)(l) 6,294
2,200 Washington State Health Care Facilities Authority Revenue Bonds (Kadlec Medical
Center), 6% due 12/01/2030 (k) 2,469
Washington State Public Power Supply System, Revenue Refunding Bonds, Series B:
1,900 (Nuclear Project No. 3), 7.125% due 7/01/2016 (h) 2,467
5,000 (Nuclear Project Number 1), 7.125% due 7/01/2016 6,461
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Wisconsin - 1.6% 2,045 Badger Tobacco Asset Securitization Corporation, Wisconsin, Asset-Backed Revenue
Bonds, 6.125% due 6/01/2027 2,051
2,715 Wisconsin State Health and Educational Facilities Authority Revenue Bonds
(Synergyhealth Inc.), 6% due 11/15/2032 2,857
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Wyoming - 2.0% Sweetwater County, Wyoming, Solid Waste Disposal Revenue Bonds (FMC
Corporation Project), AMT:
1,000 Series A, 7% due 6/01/2024 1,017
5,000 Series B, 6.90% due 9/01/2024 5,074
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U.S. Virgin 6,000 Virgin Islands Government Refinery Facilities, Revenue Refunding Bonds
Islands - 2.2% (Hovensa Coker Project), AMT, 6.50% due 7/01/2021 6,580
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Total Investments (Cost - $431,497*) - 153.6% 470,802
Other Assets Less Liabilities - 3.5% 10,817
Preferred Stock, at Redemption Value - (57.1%) (175,013)
---------
Net Assets Applicable to Common Stock - 100.0% $ 306,606
=========
MuniVest Fund II, Inc.
Schedule of Investments as of January 31, 2005 (concluded)
* The cost and unrealized appreciation (depreciation) of investments as of
January 31, 2005, as computed for federal income tax purposes, were as
follows:
(in Thousands)
--------------------------------------------------------------------------
Aggregate cost $ 431,519
=========
Gross unrealized appreciation $ 40,193
Gross unrealized depreciation (910)
---------
Net unrealized appreciation $ 39,283
=========
(a) AMBAC Insured.
(b) Escrowed to maturity.
(c) FGIC Insured.
(d) FHA Insured.
(e) FHLMC Collateralized.
(f) FNMA/GNMA Collateralized.
(g) FSA Insured.
(h) MBIA Insured.
(i) Prerefunded.
(j) Security has a maturity of more than one year, but has variable rate and
demand features, which qualify it as a short-term security. The rate
disclosed is that currently in effect. This rate changes periodically
based upon prevailing market rates.
(k) Radian Insured.
(l) The rate disclosed is that currently in effect. This rate changes
periodically and inversely based upon prevailing market rates.
(m) ACA Insured.
Investments in companies considered to be an affiliate of the Fund (such
companies are defined as "Affiliated Companies" in Section 2(a)(3) of the
Investment Company Act of 1940) were as follows:
(in Thousands)
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Net Dividend
Affiliate Activity Income
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Merrill Lynch Institutional Tax-Exempt Fund (3,092) $15
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Forward interest rate swaps outstanding as of January 31, 2005 were as
follows:
(in Thousands)
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Notional Unrealized
Amount Depreciation
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Receive a variable rate equal to
7-Day Bond Market Association
Municipal Swap Index Rate
and pay a fixed rate equal to 3.619%
Broker, JPMorgan Chase Bank
Expires February 2015 $ 10,500 $ (110)
Receive a variable rate equal to
7-Day Bond Market Association
Municipal Swap Index Rate
and pay a fixed rate equal to 3.63%
Broker, JPMorgan Chase Bank
Expires March 2015 $ 11,000 (105)
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Total $ (215)
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Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our evaluation
of these controls and procedures as of a date within 90 days prior to the
filing date of this report.
2(b) - There were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the period
covered by this report that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting.
Item 3 - Exhibits
Certifications - Attached hereto
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
MuniVest Fund II, Inc.
By: /s/ Robert C. Doll, Jr.
-----------------------
Robert C. Doll, Jr.,
President
MuniVest Fund II, Inc.
Date: March 21, 2005
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.,
President
MuniVest Fund II, Inc.
Date: March 21, 2005
By: /s/ Donald C. Burke
-----------------------
Donald C. Burke,
Chief Financial Officer
MuniVest Fund II, Inc.
Date: March 21, 2005