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 811-08621

 

Name of Fund: BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniHoldings New Jersey Quality Fund, Inc., 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: 07/31/2012

 

Date of reporting period: 04/30/2012

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments April 30, 2012 (Unaudited)

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey — 126.8%

 

 

 

 

 

 

 

Corporate — 3.2%

 

 

 

 

 

 

 

New Jersey EDA, RB, AMT:

 

 

 

 

 

 

 

New Jersey American Water Co., Inc.
Project, Series A (AMBAC), 5.25%,
11/01/32

 

$

3,000

 

$

3,050,910

 

Waste Management of New Jersey,
Mandatory Put Bonds, Series A,
5.30%, 6/01/15 (a)

 

 

2,500

 

 

2,682,575

 

New Jersey EDA, Refunding RB:

 

 

 

 

 

 

 

New Jersey American Water
Co., Inc. Project, Series A,
5.70%, 10/01/39

 

 

2,500

 

 

2,745,525

 

New Jersey American Water
Co., Inc. Project, Series B,
AMT, 5.60%, 11/01/34

 

 

2,150

 

 

2,397,615

 

 

 

 

 

 

 

10,876,625

 

County/City/Special District/School District — 17.0%

 

 

 

 

 

 

 

Borough of Hopatcong New Jersey, GO,
Refunding, Sewer (AMBAC), 4.50%,
8/01/33

 

 

2,690

 

 

2,824,608

 

City of Perth Amboy New Jersey, GO,
CAB (AGM) (b):

 

 

 

 

 

 

 

4.60%, 7/01/32

 

 

4,605

 

 

4,807,988

 

4.64%, 7/01/33

 

 

1,395

 

 

1,451,163

 

4.75%, 7/01/37

 

 

1,470

 

 

1,512,468

 

County of Middlesex New Jersey, COP,
Refunding (NPFGC), 5.50%, 8/01/16

 

 

1,375

 

 

1,380,692

 

County of Union New Jersey, GO:

 

 

 

 

 

 

 

4.00%, 3/01/29

 

 

2,590

 

 

2,773,009

 

4.00%, 3/01/30

 

 

2,590

 

 

2,750,347

 

4.00%, 3/01/31

 

 

2,925

 

 

3,087,601

 

Edgewater Borough Board of Education,
GO (AGM):

 

 

 

 

 

 

 

4.25%, 3/01/34

 

 

1,235

 

 

1,354,709

 

4.25%, 3/01/35

 

 

1,300

 

 

1,421,238

 

4.30%, 3/01/36

 

 

1,370

 

 

1,498,616

 

Essex County Improvement Authority,
RB, County Correctional Facility
Project, Series A (NPFGC), 5.00%,
10/01/13 (c)

 

 

4,400

 

 

4,693,348

 

Essex County Improvement Authority,
Refunding RB, Project Consolidation:

 

 

 

 

 

 

 

(AMBAC), 5.25%, 12/15/18

 

 

1,000

 

 

1,206,620

 

(NPFGC), 5.50%, 10/01/27

 

 

250

 

 

315,003

 

(NPFGC), 5.50%, 10/01/28

 

 

4,840

 

 

6,089,688

 

Hudson County Improvement Authority,
RB:

 

 

 

 

 

 

 

County Secured, County Services
Building Project (AGM), 5.00%,
4/01/27

 

 

750

 

 

808,147

 

Harrison Parking Facility Project,
Series C (AGC), 5.25%, 1/01/39

 

 

2,000

 

 

2,192,780

 

Harrison Parking Facility Project,
Series C (AGC), 5.38%, 1/01/44

 

 

3,600

 

 

3,968,964

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

County/City/Special District/School District
(concluded)

 

 

 

 

 

 

 

Middlesex County Improvement
Authority, RB, Senior Citizens Housing
Project, AMT (AMBAC), 5.50%,
9/01/30

 

$

500

 

$

500,535

 

Monmouth County Improvement
Authority, RB, Governmental Loan
(AMBAC):

 

 

 

 

 

 

 

5.35%, 12/01/17

 

 

5

 

 

5,016

 

5.38%, 12/01/18

 

 

5

 

 

5,016

 

Morristown Parking Authority, RB
(NPFGC):

 

 

 

 

 

 

 

5.00%, 8/01/30

 

 

1,830

 

 

1,966,939

 

5.00%, 8/01/33

 

 

3,000

 

 

3,200,700

 

New Jersey State Transit Corp., COP,
Subordinate, Federal Transit
Administration Grants, Series A (AGM),
5.00%, 9/15/21

 

 

2,000

 

 

2,122,460

 

Newark Housing Authority, Refunding
RB, Newark Redevelopment Project
(NPFGC), 4.38%, 1/01/37

 

 

620

 

 

553,276

 

South Jersey Port Corp., Refunding RB:

 

 

 

 

 

 

 

4.50%, 1/01/15

 

 

3,750

 

 

3,826,875

 

4.50%, 1/01/16

 

 

1,920

 

 

1,955,846

 

 

 

 

 

 

 

58,273,652

 

Education — 19.4%

 

 

 

 

 

 

 

New Jersey EDA, RB, International
Center For Public Health Project,
University of Medicine and Dentistry
(AMBAC), 6.00%, 6/01/32

 

 

5,000

 

 

5,006,100

 

New Jersey Educational Facilities
Authority, RB:

 

 

 

 

 

 

 

Higher Education Capital
Improvement, Series A (AMBAC),
5.13%, 9/01/12 (c)

 

 

5,500

 

 

5,591,025

 

Montclair State University, Series A
(AMBAC), 5.00%, 7/01/21

 

 

1,200

 

 

1,371,576

 

Montclair State University, Series A
(AMBAC), 5.00%, 7/01/22

 

 

2,880

 

 

3,282,998

 

Richard Stockton College, Series F
(NPFGC), 5.00%, 7/01/31

 

 

2,625

 

 

2,744,228

 

Rowan University, Series C (NPFGC),
5.00%, 7/01/14 (c)

 

 

3,260

 

 

3,583,588

 

Rowan University, Series C (NPFGC),
5.13%, 7/01/14 (c)

 

 

3,615

 

 

3,983,585

 

New Jersey Educational Facilities
Authority, Refunding RB:

 

 

 

 

 

 

 

College of New Jersey, Series D
(AGM), 5.00%, 7/01/35

 

 

9,740

 

 

10,493,486

 

Montclair State University, Series J
(NPFGC), 4.25%, 7/01/30

 

 

3,775

 

 

3,844,158

 

New Jersey Institute of
Technology, Series H,
5.00%, 7/01/31

 

 

3,000

 

 

3,272,640

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

APRIL 30, 2012

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Education (concluded)

 

 

 

 

 

 

 

New Jersey Educational Facilities
Authority, Refunding RB (concluded):

 

 

 

 

 

 

 

Ramapo College, Series I (AMBAC),
4.25%, 7/01/31

 

$

1,250

 

$

1,274,938

 

Ramapo College, Series I (AMBAC),
4.25%, 7/01/36

 

 

900

 

 

911,754

 

Stevens Institute of
Technology, Series A, 5.00%,
7/01/27

 

 

2,800

 

 

2,924,124

 

Stevens Institute of
Technology, Series A, 5.00%,
7/01/34

 

 

900

 

 

922,158

 

William Paterson University, Series
C (AGC), 5.00%, 7/01/28

 

 

250

 

 

272,808

 

William Paterson University, Series
C (AGC), 4.75%, 7/01/34

 

 

4,000

 

 

4,259,120

 

New Jersey Institute of Technology,
Series A, 5.00%, 7/01/42

 

 

5,045

 

 

5,564,887

 

University of Medicine & Dentistry of
New Jersey, COP (NPFGC), 5.00%,
6/15/29

 

 

2,000

 

 

2,039,860

 

University of Medicine & Dentistry of
New Jersey, RB, Series A (AMBAC),
5.50%, 12/01/27

 

 

4,740

 

 

4,834,231

 

 

 

 

 

 

 

66,177,264

 

Health — 17.6%

 

 

 

 

 

 

 

New Jersey Health Care Facilities
Financing Authority, RB:

 

 

 

 

 

 

 

AHS Hospital Corp., 6.00%,
7/01/41

 

 

3,080

 

 

3,605,510

 

Greystone Park Psychiatric Hospital
(AMBAC), 5.00%, 9/15/23

 

 

10,775

 

 

11,460,721

 

Meridian Health, Series I (AGC),
5.00%, 7/01/38

 

 

765

 

 

803,005

 

Meridian Health, Series II (AGC),
5.00%, 7/01/38

 

 

6,360

 

 

6,675,965

 

Meridian Health, Series V (AGC),
5.00%, 7/01/38

 

 

3,950

 

 

4,146,236

 

South Jersey Hospital, 6.00%,
7/01/12 (c)

 

 

5,440

 

 

5,493,040

 

Virtua Health (AGC), 5.50%,
7/01/38

 

 

3,035

 

 

3,304,326

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB:

 

 

 

 

 

 

 

AHS Hospital Corp., Series A
(AMBAC), 6.00%, 7/01/13 (d)

 

 

4,000

 

 

4,257,640

 

Atlantic City Medical Center,
5.75%, 7/01/12 (c)

 

 

1,050

 

 

1,059,881

 

Atlantic City Medical Center,
6.25%, 7/01/17

 

 

925

 

 

970,177

 

Atlantic City Medical Center,
5.75%, 7/01/25

 

 

1,975

 

 

1,984,085

 

Barnabas Health, Series A,
5.00%, 7/01/24

 

 

1,820

 

 

1,903,647

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB
(concluded):

 

 

 

 

 

 

 

Barnabas Health, Series A,
5.63%, 7/01/32

 

$

1,100

 

$

1,178,397

 

Barnabas Health, Series A,
5.63%, 7/01/37

 

 

3,060

 

 

3,233,624

 

Hackensack University Medical
(AGC), 5.13%, 1/01/27

 

 

1,500

 

 

1,635,570

 

Hackensack University Medical
(AGM), 4.63%, 1/01/30

 

 

5,480

 

 

5,770,604

 

Meridian Health System
Obligation, 5.00%, 7/01/25

 

 

700

 

 

775,565

 

Meridian Health System
Obligation, 5.00%, 7/01/26

 

 

1,590

 

 

1,741,177

 

 

 

 

 

 

 

59,999,170

 

Housing — 6.1%

 

 

 

 

 

 

 

New Jersey State Housing & Mortgage
Finance Agency, RB:

 

 

 

 

 

 

 

Capital Fund Program, Series A
(AGM), 4.70%, 11/01/25

 

 

9,245

 

 

9,620,162

 

Series A, AMT (NPFGC), 4.85%,
11/01/39

 

 

935

 

 

930,774

 

Series AA, 6.50%, 10/01/38

 

 

1,895

 

 

2,033,183

 

Series B, 4.50%, 10/01/30

 

 

7,150

 

 

7,450,872

 

S/F Housing, Series T, AMT,
4.70%, 10/01/37

 

 

745

 

 

751,809

 

 

 

 

 

 

 

20,786,800

 

State — 33.4%

 

 

 

 

 

 

 

Garden State Preservation Trust, RB
(AGM):

 

 

 

 

 

 

 

CAB, Series B, 5.12%,
11/01/23 (e)

 

 

9,000

 

 

6,337,170

 

CAB, Series B, 5.20%,
11/01/25 (e)

 

 

10,000

 

 

6,347,200

 

Election of 2005, Series A,
5.80%, 11/01/15 (c)

 

 

4,690

 

 

5,518,536

 

Garden State Preservation Trust,
Refunding RB, Series C (AGM):

 

 

 

 

 

 

 

5.25%, 11/01/20

 

 

5,000

 

 

6,338,600

 

5.25%, 11/01/21

 

 

7,705

 

 

9,851,613

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Cigarette Tax (Radian), 5.50%,
6/15/14 (c)

 

 

585

 

 

648,116

 

Cigarette Tax (Radian), 5.75%,
6/15/14 (c)

 

 

3,180

 

 

3,539,912

 

Liberty State Park Project, Series C
(AGM), 5.00%, 3/01/22

 

 

2,670

 

 

2,940,551

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/24

 

 

1,785

 

 

2,123,561

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

APRIL 30, 2012

2


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

State (concluded)

 

 

 

 

 

 

 

New Jersey EDA, RB (concluded):

 

 

 

 

 

 

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/25

 

$

4,000

 

$

4,756,680

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/26

 

 

7,500

 

 

8,886,675

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/33

 

 

11,105

 

 

11,932,322

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.00%, 7/01/34

 

 

2,000

 

 

2,127,580

 

School Facilities Construction,
Series L (AGM), 5.00%, 3/01/30

 

 

9,000

 

 

9,420,570

 

School Facilities Construction,
Series O, 5.25%, 3/01/23

 

 

1,420

 

 

1,570,378

 

School Facilities Construction,
Series Y, 5.00%, 9/01/33

 

 

3,000

 

 

3,228,870

 

School Facilities Construction,
Series Z (AGC), 6.00%, 12/15/34

 

 

2,800

 

 

3,210,592

 

School Facilities, Series U,
5.00%, 9/01/37

 

 

5,000

 

 

5,311,900

 

School Facilities, Series U (AMBAC),
5.00%, 9/01/37

 

 

2,000

 

 

2,124,760

 

New Jersey EDA, Refunding RB:

 

 

 

 

 

 

 

Cigarette Tax, 5.00%,
6/15/26

 

 

895

 

 

967,477

 

Cigarette Tax, 5.00%,
6/15/28

 

 

1,520

 

 

1,633,666

 

Cigarette Tax, 5.00%,
6/15/29

 

 

2,000

 

 

2,139,280

 

School Facilities Construction,
Series N-1 (NPFGC), 5.50%,
9/01/27

 

 

1,000

 

 

1,239,790

 

New Jersey Sports & Exposition
Authority, Refunding RB (NPFGC):

 

 

 

 

 

 

 

5.50%, 3/01/21

 

 

5,890

 

 

6,980,533

 

5.50%, 3/01/22

 

 

3,150

 

 

3,738,074

 

State of New Jersey, COP, Equipment
Lease Purchase, Series A, 5.25%,
6/15/27

 

 

1,080

 

 

1,202,623

 

 

 

 

 

 

 

114,117,029

 

Tobacco — 1.5%

 

 

 

 

 

 

 

Tobacco Settlement Financing Corp.
New Jersey, RB, 7.00%, 6/01/13 (c)

 

 

4,755

 

 

5,096,552

 

Transportation — 22.8%

 

 

 

 

 

 

 

Delaware River Port Authority, RB
(AGM):

 

 

 

 

 

 

 

Port District Project, Series B,
5.63%, 1/01/26

 

 

2,425

 

 

2,429,777

 

Series D, 5.00%, 1/01/40

 

 

3,700

 

 

3,977,500

 

New Jersey State Turnpike Authority, RB,
Growth & Income Securities, Series B
(AMBAC), 4.89% 1/01/15 (b)

 

 

7,615

 

 

6,913,278

 

New Jersey State Turnpike Authority,
Refunding RB:

 

 

 

 

 

 

 

Series A (AGM), 5.25%, 1/01/26

 

 

4,900

 

 

5,980,548

 

Series A (AGM), 5.25%, 1/01/29

 

 

2,000

 

 

2,470,660

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Transportation (concluded)

 

 

 

 

 

 

 

New Jersey State Turnpike Authority,
Refunding RB (concluded):

 

 

 

 

 

 

 

Series A (AGM), 5.25%, 1/01/30

 

$

4,000

 

$

4,976,680

 

Series A (BHAC), 5.25%, 1/01/29

 

 

500

 

 

624,215

 

Series C (NPFGC), 6.50%, 1/01/16

 

 

910

 

 

1,078,641

 

Series C (NPFGC), 6.50%, 1/01/16
(d)

 

 

3,385

 

 

3,761,852

 

Series C-2005 (NPFGC), 6.50%,
1/01/16 (d)

 

 

255

 

 

309,519

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System:

 

 

 

 

 

 

 

CAB, Series C (AGM), 4.74%,
12/15/32 (e)

 

 

4,050

 

 

1,475,213

 

CAB, Series C (AMBAC), 5.05%,
12/15/35 (e)

 

 

1,400

 

 

405,706

 

CAB, Series C (AMBAC), 5.13%,
12/15/36 (e)

 

 

7,210

 

 

1,973,233

 

Series A, 6.00%, 6/15/35

 

 

4,365

 

 

5,256,377

 

Series A, 5.77%, 12/15/35 (e)

 

 

6,000

 

 

1,769,880

 

Series A (AGC), 5.63%, 12/15/28

 

 

2,000

 

 

2,313,240

 

Series A (AGM), 5.25%, 12/15/20

 

 

10,750

 

 

13,139,725

 

Series A (AGM), 5.50%, 12/15/22

 

 

150

 

 

187,998

 

Series A (NPFGC), 5.75%, 6/15/24

 

 

1,205

 

 

1,533,073

 

Series B, 5.50%, 6/15/31

 

 

1,425

 

 

1,648,340

 

Series B, 5.25%, 6/15/36

 

 

1,900

 

 

2,123,098

 

Port Authority of New York & New Jersey,
RB:

 

 

 

 

 

 

 

JFK International Air Terminal,
6.00%, 12/01/42

 

 

2,500

 

 

2,770,900

 

Special Project, JFK International Air
Terminal, Series 6, AMT (NPFGC),
6.25%, 12/01/15

 

 

1,500

 

 

1,659,315

 

Special Project, JFK International Air
Terminal, Series 6, AMT (NPFGC),
5.75%, 12/01/25

 

 

3,000

 

 

3,000,150

 

Port Authority of New York & New Jersey,
Refunding RB, Consolidated, 152nd
Series, AMT, 5.75%, 11/01/30

 

 

5,175

 

 

5,974,434

 

 

 

 

 

 

 

77,753,352

 

Utilities — 5.8%

 

 

 

 

 

 

 

Essex County Utilities Authority,
Refunding RB (AGC), 4.13%, 4/01/22

 

 

2,000

 

 

2,134,200

 

North Hudson Sewerage Authority,
Refunding RB, Series A (NPFGC),
5.13%, 8/01/20 (d)

 

 

4,335

 

 

4,999,382

 

Rahway Valley Sewerage Authority, RB,
CAB, Series A (NPFGC) (e):

 

 

 

 

 

 

 

4.79%, 9/01/28

 

 

6,600

 

 

3,156,252

 

4.70%, 9/01/29

 

 

6,900

 

 

3,094,719

 

Union County Utilities Authority,
Refunding RB:

 

 

 

 

 

 

 

County Deficiency Agreement,
Series A, 5.00%, 6/15/41

 

 

5,415

 

 

6,044,602

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

APRIL 30, 2012

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

Utilities (concluded)

 

 

 

 

 

 

 

Union County Utilities Authority,
Refunding RB (concluded):

 

 

 

 

 

 

 

Covanta Union, Series A, AMT,
5.25%, 12/01/31

 

$

450

 

$

485,478

 

 

 

 

 

 

 

19,914,633

 

Total Municipal Bonds in New Jersey

 

 

 

 

 

432,995,077

 

 

 

 

 

 

 

 

 

Guam — 1.4%

 

 

 

 

 

 

 

State — 0.8%

 

 

 

 

 

 

 

Government of Guam Business
Privilege, RB, Series A, 5.13%,
1/01/42

 

 

2,500

 

 

2,713,125

 

Utilities — 0.6%

 

 

 

 

 

 

 

Guam Power Authority, Refunding RB,
Series A (AGM), 5.00%, 10/01/37

 

 

1,860

 

 

2,006,959

 

Total Municipal Bonds in Guam

 

 

 

 

 

4,720,084

 

 

 

 

 

 

 

 

 

Puerto Rico — 11.0%

 

 

 

 

 

 

 

Health — 0.5%

 

 

 

 

 

 

 

Puerto Rico Industrial Tourist
Educational Medical & Environmental
Control Facilities Financing Authority,
RB, Hospital De La Concepcion, Series
A, 6.50%, 11/15/20

 

 

1,750

 

 

1,757,175

 

State — 5.4%

 

 

 

 

 

 

 

Commonwealth of Puerto Rico, GO,
Refunding, Public Improvement,
Series C, 6.00%, 7/01/39

 

 

2,080

 

 

2,218,050

 

Puerto Rico Commonwealth
Infrastructure Financing Authority, RB,
CAB, Series A (AMBAC), 4.38%,
7/01/37 (e)

 

 

4,000

 

 

851,480

 

Puerto Rico Public Buildings Authority,
Refunding RB, Government Facilities,
Series M-3 (NPFGC), 6.00%, 7/01/27

 

 

2,125

 

 

2,353,969

 

Puerto Rico Sales Tax Financing Corp.,
RB:

 

 

 

 

 

 

 

First Sub-Series A, 5.50%,
8/01/42

 

 

1,300

 

 

1,402,726

 

First Sub-Series A, 6.00%,
8/01/42

 

 

2,500

 

 

2,820,300

 

First Sub-Series A-1, 5.25%,
8/01/43

 

 

2,130

 

 

2,276,267

 

First Sub-Series C (AGM), 5.13%,
8/01/42

 

 

6,120

 

 

6,502,194

 

 

 

 

 

 

 

18,424,986

 

Transportation — 1.3%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB, Series CC
(AGC), 5.50%, 7/01/31

 

 

3,750

 

 

4,344,000

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

Puerto Rico (concluded)

 

 

 

 

 

 

 

Utilities — 3.8%

 

 

 

 

 

 

 

Puerto Rico Aqueduct & Sewer Authority,
RB, Senior Lien, Series A (AGC),
5.13%, 7/01/47

 

$

3,250

 

$

3,337,035

 

Puerto Rico Electric Power Authority, RB,
Series RR (CIFG), 5.00%, 7/01/28

 

 

4,100

 

 

4,282,778

 

Puerto Rico Electric Power Authority,
Refunding RB:

 

 

 

 

 

 

 

Series A, 5.00%, 7/01/42 (f)

 

 

3,900

 

 

3,893,682

 

Series VV (NPFGC), 5.25%,
7/01/26

 

 

1,325

 

 

1,464,880

 

 

 

 

 

 

 

12,978,375

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

37,504,536

 

 

 

 

 

 

 

 

 

Total Municipal Bonds – 139.2%

 

 

 

 

 

475,219,697

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g)

 

 

 

 

 

 

 

New Jersey — 16.6%

 

 

 

 

 

 

 

Education — 0.3%

 

 

 

 

 

 

 

Rutgers State University of New Jersey,
Refunding RB, Series F, 5.00%,
5/01/39

 

 

990

 

 

1,080,984

 

Housing — 1.6%

 

 

 

 

 

 

 

New Jersey State Housing & Mortgage
Finance Agency, RB, Capital Fund
Program, Series A (AGM), 5.00%,
5/01/27

 

 

4,790

 

 

5,295,632

 

State — 3.5%

 

 

 

 

 

 

 

Garden State Preservation Trust, RB,
Election of 2005, Series A (AGM),
5.75%, 11/01/28

 

 

9,160

 

 

11,970,013

 

Transportation — 7.3%

 

 

 

 

 

 

 

Port Authority of New York & New Jersey,
RB, Consolidated, 163rd Series,
5.00%, 7/15/39

 

 

11,456

 

 

12,724,359

 

Port Authority of New York & New Jersey,
Refunding RB, Consolidated:

 

 

 

 

 

 

 

106th Series, 5.00%,
10/15/41

 

 

5,500

 

 

5,854,585

 

152nd Series, 5.25%,
11/01/35

 

 

5,998

 

 

6,491,070

 

 

 

 

 

 

 

25,070,014

 

Utilities — 3.9%

 

 

 

 

 

 

 

Union County Utilities Authority,
Refunding RB, Covanta Union, Series
A, AMT, 5.25%, 12/01/31

 

 

12,370

 

 

13,345,251

 

Total Municipal Bonds in New Jersey

 

 

 

 

 

56,761,894

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

APRIL 30, 2012

4


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts (g)

 

Par
(000)

 

Value

 

Puerto Rico — 0.7%

 

 

 

 

 

 

 

State — 0.7%

 

 

 

 

 

 

 

Puerto Rico Sales Tax
Financing Corp., Refunding
RB, Series C, 5.25%,
8/01/40

 

$

2,270

 

$

2,483,834

 

 

 

 

 

 

 

 

 

Total Municipal Bonds Transferred to Tender Option
Bond (TOB) Trusts – 17.3%

 

 

 

 

 

59,245,728

 

Total Long-Term Investments
(Cost – $495,746,727) – 156.5%

 

 

 

 

 

534,465,425

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

BIF New Jersey Municipal Money
Fund, 0.00% (h)(i)

 

 

6,463,680

 

 

6,463,680

 

Total Short-Term Securities
(Cost – $6,463,680) – 1.9%

 

 

 

 

 

6,463,680

 

Total Investments (Cost - $502,210,407*) – 158.4%

 

 

 

 

 

540,929,105

 

Other Assets Less Liabilities – 0.9%

 

 

 

 

 

3,025,345

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (8.7)%

 

 

 

 

 

(29,739,068

)

VRDP Shares, at Liquidation Value – (50.6)%

 

 

 

 

 

(172,700,000

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

341,515,382

 

 

 

*

As of April 30, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:


 

 

 

 

 

Tax cost

 

$

472,714,868

 

Gross unrealized appreciation

 

$

39,461,909

 

Gross unrealized depreciation

 

 

(966,417

)

Net unrealized appreciation

 

$

38,495,492

 

 

 

(a)

Variable rate security. Rate shown is as of report date.

 

 

(b)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.

 

 

(c)

US 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.

 

 

(d)

Security is collateralized by Municipal or US Treasury obligations.

 

 

(e)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

 

(f)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

 

 

Counterparty

 

Value

 

Unrealized
Appreciation

 

 

Morgan Stanley & Co., Inc.

 

$

3,893,682

 

$

41,886

 

 

 

(g)

Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

 

(h)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
July 31, 2011

 

Net
Activity

 

Shares
Held at
April 30, 2012

 

Income

 

 

BIF New Jersey
Municipal
Money Fund

 

 

9,941,803

 

 

(3,478,123

)

 

6,463,680

 

$

411

 

 

 

(i)

Represents the current yield as of report date.

 

 

•

For Fund compliance purposes, the Fund’s sector classifications refer to any 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 Fund management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.


 

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

BHAC

Berkshire Hathaway Assurance Corp.

CAB

Capital Appreciation Bonds

CIFG

CDC IXIS Financial Guaranty

COP

Certificates of Participation

EDA

Economic Development Authority

GO

General Obligation Bonds

NPFGC

National Public Finance Guarantee Corp.

Radian

Radian Financial Guaranty

RB

Revenue Bonds

S/F

Single-Family

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

APRIL 30, 2012

5


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniHoldings New Jersey Quality Fund, Inc. (MUJ)

 

 

•

Financial futures contracts sold as of April 30, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

200

 

10-Year US Treasury Note

 

Chicago Board of Trade

 

June 2012

 

$

26,456,250

 

$

(316,943

)

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

•

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

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 Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure 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 investment and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the inputs used as of April 30, 2012 in determining the fair valuation of the Fund’s investments and derivative financial instruments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

534,465,425

 

 

—

 

$

534,465,425

 

Short-Term
Securities

 

$

6,463,680

 

 

—

 

 

—

 

 

6,463,680

 

Total

 

$

6,463,680

 

$

534,465,425

 

 

—

 

$

540,929,105

 

 

 

 

 

1

See above Schedule of Investments for values in each sector.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate
contracts

 

$

(316,943

)

 

—

 

 

—

 

$

(316,943

)

 

 

 

 

2

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

Certain of the Fund’s assets and liabilities are held at carrying amount which approximates fair value. Such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash pledged as
collateral for
financial
futures
contracts

 

$

264,000

 

 

—

 

 

—

 

$

264,000

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

TOB Trust
Certificates

 

 

—

 

$

(29,718,745

)

 

—

 

 

(29,718,745

)

VRDP Shares

 

 

—

 

 

(172,700,000

)

 

—

 

 

(172,700,000

)

Total

 

$

264,000

 

$

(202,418,745

)

 

—

 

$

(202,154,745

)

There were no transfers between levels during the period ended April 30, 2012.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

APRIL 30, 2012

6

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 New Jersey Quality Fund, Inc.

 

 

 

 By: /s/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniHoldings New Jersey Quality Fund, Inc.

 

 

 

Date: June 22, 2012

 

 

 

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 New Jersey Quality Fund, Inc.

 

 

 

Date: June 22, 2012

 

 

 

 By: /s/ Neal J. Andrews

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock MuniHoldings New Jersey Quality Fund, Inc.

 

 

 

 

Date: June 22, 2012