BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.

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: 07/31/2013

Date of reporting period: 10/31/2012

Item 1 – Schedule of Investments

 

 

Schedule of Investments October 31, 2012 (Unaudited)

  

 

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

(Percentages shown are based on Net Assets)

 

     Par
(000)		      Value  

Municipal Bonds

      

    

                  

New Jersey — 128.4%

                  

Corporate — 3.1%

      

New Jersey EDA, RB, AMT:

      

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

    $     3,000       $ 3,054,420   

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

      2,500         2,672,525   

New Jersey EDA, Refunding RB, New Jersey American Water Co., Inc. Project, AMT:

      

Series A, 5.70%, 10/01/39

      2,500         2,801,300   

Series B, 5.60%, 11/01/34

      2,150         2,451,667   
                10,979,912   

County/City/Special District/School District — 17.5%

  

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

      2,690         2,862,483   

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

      

5.00%, 7/01/32

      4,605         5,024,055   

5.00%, 7/01/33

      1,395         1,518,764   

5.00%, 7/01/37

      1,470         1,575,223   

County of Union New Jersey, GO:

      

4.00%, 3/01/29

      2,590         2,849,829   

4.00%, 3/01/30

      2,590         2,841,696   

4.00%, 3/01/31

      2,925         3,195,562   

Edgewater Borough Board of Education, GO (AGM):

      

4.25%, 3/01/34

      1,235         1,386,880   

4.25%, 3/01/35

      1,300         1,457,092   

4.30%, 3/01/36

      1,370         1,537,277   

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

      4,400         4,592,060   

Essex County Improvement Authority, Refunding RB, Project Consolidation:

      

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

      1,000         1,216,940   

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

      250         328,965   

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

      4,840         6,413,145   

Hudson County Improvement Authority, RB:

  

   

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

      750         816,135   

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

      2,000         2,237,200   

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

      3,600         4,045,608   
     Par
(000)		      Value  

Municipal Bonds

      

    

                  

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       $ 500,790   

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

      

5.35%, 12/01/17

      5         5,018   

5.38%, 12/01/18

      5         5,018   

Morristown Parking Authority, RB (NPFGC):

      

5.00%, 8/01/30

      1,830         1,995,908   

5.00%, 8/01/33

      3,000         3,249,810   

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

      2,000         2,121,520   

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

      620         621,488   

South Jersey Port Corp., Refunding RB, 4.50%, 1/01/13 (c)

      5,670         5,709,746   

Union County Improvement Authority, RB, Family Court Building Project, 4.00%, 5/01/37

      3,575         3,695,013   
                61,803,225   

Education — 21.1%

      

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

      5,000         5,008,250   

New Jersey Educational Facilities Authority, RB:

      

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

      1,200         1,368,276   

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

      2,880         3,276,058   

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

      2,625         2,790,874   

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

      3,260         3,513,400   

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

      3,615         3,903,477   

New Jersey Educational Facilities Authority, Refunding RB:

      

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

      9,740         10,689,260   

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

      3,775         3,905,690   
 

 

                 
      BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.       OCTOBER 31, 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):

      

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

    $ 3,000       $ 3,390,540   

Ramapo College, Series B, 5.00%, 7/01/37

      845         956,303   

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

      1,250         1,302,575   

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

      900         930,285   

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

      2,800         3,000,452   

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

      900         952,056   

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

      250         277,243   

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

      4,000         4,353,440   

New Jersey Higher Education Student Assistance Authority, RB, Senior Student Loan, Series 1A, AMT:

      

4.50%, 12/01/28

      3,380         3,533,283   

4.50%, 12/01/29

      4,150         4,306,704   

4.63%, 12/01/30

      4,080         4,265,640   

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

      5,045         5,763,156   

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

      2,000         2,047,160   

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

      4,740         4,756,211   

Health — 15.1%

               74,290,333   

New Jersey Health Care Facilities Financing Authority, RB:

      

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

      10,775         11,664,692   

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

      755         810,712   

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

      6,260         6,721,925   

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

      3,870         4,155,567   

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

      3,035         3,387,242   

New Jersey Health Care Facilities Financing Authority, Refunding RB:

      

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

      3,080         3,814,919   
Municipal Bonds   

Par

(000)

      Value  
     

New Jersey (continued)

  

Health (concluded)

      

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

      

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

    $ 4,000       $ 4,148,400   

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

      1,820         1,974,300   

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

      1,100         1,246,993   

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

      3,060         3,437,665   

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

      1,500         1,657,500   

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

      5,480         5,910,783   

Kennedy Health System, 5.00%, 7/01/31

      540         595,204   

Kennedy Health System, 5.00%, 7/01/37

      520         567,424   

Kennedy Health System, 5.00%, 7/01/42

      360         393,440   

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

      700         805,910   

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

      1,590         1,814,921   
                53,107,597   

Housing — 7.0%

      

New Jersey State Housing & Mortgage Finance Agency, RB:

      

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

      9,245         9,662,874   

M/F, 4.55%, 11/01/43

      3,575         3,689,615   

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

      935         944,808   

Series AA, 6.50%, 10/01/38

      1,645         1,741,249   

Series B, 4.50%, 10/01/30

      7,115         7,735,286   

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

      745         765,517   
                24,539,349   

State — 33.0%

      

Garden State Preservation Trust, RB (AGM):

      

CAB, Series B, 2.86%,
11/01/23 (e)

      9,000         6,586,470   

CAB, Series B, 3.06%,
11/01/25 (e)

      10,000         6,742,500   

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

      4,690         5,436,835   

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

      

5.25%, 11/01/20

      5,000         6,406,200   
 

 

 

                 
      BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.       OCTOBER 31, 2012    2

 

 

Schedule of Investments (continued)

  

 

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

(Percentages shown are based on Net Assets)

 

     Par
(000)		      Value  

Municipal Bonds

      

    

                  

New Jersey (continued)

                  

State (continued)

      

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

      

5.25%, 11/01/21

    $ 7,705       $ 9,969,885   

New Jersey EDA, RB:

      

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

      585         633,725   

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

      3,180         3,457,709   

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

      2,670         2,905,441   

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

      1,785         2,195,639   

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

      4,000         4,944,880   

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

      7,500         9,313,500   

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

      11,105         11,825,715   

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

      2,000         2,110,000   

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

      9,000         9,689,310   

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

      1,420         1,550,597   

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

      3,000         3,305,280   

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

      2,800         3,295,628   

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

      5,000         5,404,500   

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

      2,000         2,161,800   

New Jersey EDA, Refunding RB:

      

Cigarette Tax, 5.00%, 6/15/26

      895         1,007,877   

Cigarette Tax, 5.00%, 6/15/28

      1,520         1,702,202   

Cigarette Tax, 5.00%, 6/15/29

      2,000         2,225,940   

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

      1,000         1,314,430   

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

      

5.50%, 3/01/21

      5,890         7,068,000   

5.50%, 3/01/22

      3,150         3,791,183   
     Par
(000)		      Value  

Municipal Bonds

      

    

                  

New Jersey (continued)

                  

State (concluded)

      

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

    $ 1,080       $ 1,224,990   
                116,270,236   

Tobacco — 1.4%

      

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

      4,755         4,942,727   

Transportation — 24.2%

      

Delaware River Port Authority, RB, Port District Project (AGM):

      

Series B, 5.63%, 1/01/26

      2,425         2,430,650   

Series D, 5.00%, 1/01/40

      3,700         4,138,450   

New Jersey State Turnpike Authority, RB:

      

Growth & Income Securities, Series B (AMBAC), 5.15%, 1/01/15 (b)

      7,615         7,186,352   

Series A, 5.00%, 1/01/31

      1,500         1,754,535   

Series A, 5.00%, 1/01/35

      760         879,024   

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

      

CAB, Series C (AGM), 4.40%, 12/15/32 (e)

      4,050         1,688,040   

CAB, Series C (AMBAC), 4.69%, 12/15/35 (e)

      1,400         479,724   

CAB, Series C (AMBAC), 4.74%, 12/15/36 (e)

      7,210         2,331,137   

Series A, 4.61%, 12/15/35 (e)

      6,000         2,090,460   

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

      10,750         13,481,683   

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

      4,900         6,152,636   

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

      2,000         2,579,000   

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

      4,000         5,206,760   

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

      500         650,765   

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

      2,000         2,408,080   

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

      1,205         1,569,741   

Series A, 6.00%, 6/15/35

      4,365         5,386,847   

Series B, 5.25%, 6/15/36

      1,900         2,196,039   

Series B, 5.50%, 6/15/31

      1,425         1,711,824   

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

      910         1,062,188   

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

      3,385         3,676,584   

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

      255         303,629   

Port Authority of New York & New Jersey, RB, JFK International Air Terminal:

      

6.00%, 12/01/42

      2,500         2,917,475   

Special Project, Series 6, AMT (NPFGC), 6.25%, 12/01/15

      1,500         1,648,455   
 

 

                 
      BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.       OCTOBER 31, 2012    3

 

 

Schedule of Investments (continued)

  

 

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

(Percentages shown are based on Net Assets)

 

   

Par

(000)

      Value  

Municipal Bonds

     

    

                 

New Jersey (concluded)

                 

Transportation (concluded)

     

Port Authority of New York & New Jersey, RB, JFK International Air Terminal (concluded):

     

Special Project, Series 6, AMT (NPFGC), 5.75%, 12/01/25

   $     3,000       $ 3,000,690   

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

     5,175         6,104,171   

South Jersey Transportation Authority, Refunding RB, Series A:

     

5.00%, 11/01/28

     1,025         1,184,674   

5.00%, 11/01/29

     1,025         1,182,778   
               85,402,391   

Utilities — 6.0%

     

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

     2,000         2,162,580   

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

     4,335         5,455,901   

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

     

4.19%, 9/01/28

     6,600         3,421,044   

4.26%, 9/01/29

     6,900         3,394,455   

Union County Utilities Authority, Refunding RB:

     

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

     450         502,641   

New Jersey Solid Waste System, County Deficiency Agreement, Series A, 5.00%, 6/15/41

     5,415         6,227,792   
               21,164,413   

Total Municipal Bonds in New Jersey

              452,500,183   

    

                 

Guam — 1.4%

                 

State — 1.0%

     

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

     2,500         2,780,850   

Territory of Guam, RB, Series B-1, 5.00%, 1/01/37

     700         773,031   
               3,553,881   

Utilities — 0.4%

     

Guam Power Authority, Refunding RB, Series A:

     

5.00%, 10/01/34

     325         351,461   

(AGM), 5.00%, 10/01/26

     580         660,168   

(AGM), 5.00%, 10/01/27

     380         430,635   
               1,442,264   

Total Municipal Bonds in Guam

              4,996,145   
   

Par

(000)

      Value  

Municipal Bonds

     

    

                 

Puerto Rico — 7.0%

                 

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       $ 1,758,785   

State — 4.8%

     

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

     2,080         2,191,717   

Puerto Rico Commonwealth Infrastructure Financing Authority, RB, CAB, Series A (AMBAC), 6.58%, 7/01/37 (e)

     4,000         809,680   

Puerto Rico Sales Tax Financing Corp., RB:

     

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

     1,300         1,387,022   

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

     2,500         2,765,025   

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

     2,130         2,256,991   

Puerto Rico Sales Tax Financing Corp., Refunding RB:

     

CAB, Series A (NPFGC), 5.60%, 8/01/42 (e)

     5,500         1,064,690   

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

     6,120         6,642,464   
               17,117,589   

Transportation — 1.3%

     

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

     3,750         4,446,262   

Utilities — 0.4%

     

Puerto Rico Electric Power Authority, Refunding RB, Series VV (NPFGC), 5.25%, 7/01/26

     1,325         1,464,827   

Total Municipal Bonds in Puerto Rico

              24,787,463   

Total Municipal Bonds – 136.8%

              482,283,791   

    

  

    

  

Municipal Bonds Transferred to Tender Option Bond

(TOB) Trusts (f)

  

  

New Jersey — 16.6%

                 

Education — 0.3%

     

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

     990         1,104,969   
 

 

 

                 
      BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.       OCTOBER 31, 2012    4

 

 

Schedule of Investments (continued)

  

 

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

(Percentages shown are based on Net Assets)

 

 

    

Par

(000)

      Value  

Municipal Bonds Transferred to Tender Option Bond

(TOB) Trusts (f)

  

  

New Jersey (concluded)

                  

Housing — 1.5%

      

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

    $ 4,790       $ 5,291,082   

State — 3.5%

      

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

      9,160         12,229,516   

Transportation — 7.3%

      

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

      

163rd Series, 5.00%, 7/15/39

      11,456         13,063,919   

169th Series, AMT, 5.00%, 10/15/41

      5,500         6,091,250   

Port Authority of New York & New Jersey, Refunding RB, 152nd Series, AMT, 5.25%, 11/01/35

      5,998         6,629,430   
                25,784,599   

Utilities — 4.0%

      

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

      12,370         13,817,042   

Total Municipal Bonds in New Jersey

               58,227,208   

    

                  

Puerto Rico — 0.7%

                  

State — 0.7%

      

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

      2,270         2,491,691   

Total Municipal Bonds Transferred to Tender Option

Bond (TOB) Trusts – 17.3%

  

  

      60,718,899   

Total Long-Term Investments

(Cost – $493,129,340) – 154.1%

  

  

      543,002,690   
     
         Shares      Value  

Short-Term Securities

      

    

                  

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

      6,430,592       $ 6,430,592   

Total Short-Term Securities

(Cost – $6,430,592) – 1.8%

  

  

      6,430,592   

Total Investments

(Cost - $499,559,932*) – 155.9%

  

  

      549,433,282   

Other Assets Less Liabilities – 1.6%

         5,494,665   

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable – (8.5)%

         (29,742,344 ) 

VRDP Shares, at Liquidation Value – (49.0)%

  

      (172,700,000 ) 

Net Assets Applicable to Common Shares – 100.0%

  

    $ 352,485,603   

*

   As of October 31, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:     
 

Tax cost

       $ 470,110,921   
 

Gross unrealized appreciation

       $ 50,436,819   
 

Gross unrealized depreciation

         (833,203 ) 
 

Net unrealized appreciation

       $ 49,603,616   

(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)

   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.     

(g)

   Investments in issuers considered to be an affiliate of the Fund during the period ended October 31, 2012, 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,
2012		     Net
Activity		      Shares
Held at
October 31,
2012		      Income  
   

BIF New Jersey Municipal Money Fund

     4,620,110        1,810,482         6,430,592         —     

 

(h)

    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.
 

 

                 
      BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.       OCTOBER 31, 2012    5

 

 

Schedule of Investments (concluded)

  

 

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

 

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

COP

    Certificates of Participation

EDA

    Economic Development Authority

GO

    General Obligation Bonds

M/F

    Multi-family

NPFGC

    National Public Finance Guarantee Corp.

Radian

    Radian Financial Guaranty

RB

    Revenue Bonds

S/F

    Single-family

 

• Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs to valuation techniques 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 that the Fund has the ability to access

 

  • 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)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

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 is based on the pricing transparency of the investment 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 other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its annual report.

The following table summarizes the Fund’s investments categorized in the disclosure hierarchy as of October 31, 2012:

 

     Level 1     Level 2     Level 3     Total  

Assets:

        

Long-Term Investments1

     —        $ 543,002,690        —        $ 543,002,690   

Short-Term Securities

   $ 6,430,592        —          —          6,430,592   

Total

   $ 6,430,592      $ 543,002,690        —        $ 549,433,282   
1 

See above Schedule of Investments for values in each sector.

Certain of the Fund’s liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of October 31, 2012, such liabilities are categorized within the disclosure hierarchy as follows:

     Level 1     Level 2     Level 3     Total  

Liabilities:

        

TOB trust certificates

     —        $ (29,718,745 )      —        $ (29,718,745 ) 

VRDP Shares

     —          (172,700,000 )      —          (172,700,000 ) 

Total

     —        $ (202,418,745 )      —        $ (202,418,745 ) 

There were no transfers between levels during the period ended October 31, 2012.

 

 

                 
      BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.       OCTOBER 31, 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:

   December 21, 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:

   December 21, 2012

By:

  

/s/ Neal J. Andrews

  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of BlackRock MuniHoldings New Jersey Quality Fund, Inc.

Date:

   December 21, 2012