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: 07/31/2018

Date of reporting period: 04/30/2018


Item 1 – Schedule of Investments


Schedule of Investments  (unaudited)

April 30, 2018

  

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  

Municipal Bonds — 137.6%

 

New Jersey — 137.6%  
Corporate — 4.4%  

New Jersey EDA, RB, Provident Group-Kean Properties, Series A, 5.00%, 07/01/47

  $ 795     $ 842,525  

New Jersey EDA, Refunding RB:

   

Duke Farms Foundation Project, 4.00%, 07/01/46

    2,770       2,866,341  

New Jersey American Water Co., Inc. Project, AMT,

Series A, 5.70%, 10/01/39

    7,500       7,825,875  

Series B, 5.60%, 11/01/34

    3,150       3,323,313  

Provident Group-Montclair Properties LLC (AGM), 5.00%, 06/01/42

    4,790       5,258,653  
   

 

 

 
      20,116,707  
County/City/Special District/School District — 16.6%  

Borough of Edgewater New Jersey Board of Education, GO, Refunding (AGM)(a):

   

4.25%, 03/01/20

    1,535       1,599,286  

4.25%, 03/01/20

    1,600       1,667,008  

4.30%, 03/01/20

    1,670       1,741,426  

Casino Reinvestment Development Authority, Refunding RB:

   

5.25%, 11/01/39

    11,130       11,792,569  

5.25%, 11/01/44

    3,755       3,979,361  

City of Bayonne New Jersey, GO, Refunding, Qualified General Improvement (BAM), 5.00%, 07/01/39

    3,340       3,665,583  

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

   

5.00%, 07/01/32

    2,210       2,213,138  

5.00%, 07/01/33

    670       670,938  

5.00%, 07/01/35

    595       595,845  

5.00%, 07/01/37

    705       705,945  

County of Essex New Jersey, GO, Vocational School, Series B, 3.00%, 09/01/46

    2,700       2,339,874  

County of Essex New Jersey Improvement Authority, Refunding RB, Project Consolidation (NPFGC):

   

5.50%, 10/01/27

    250       306,675  

5.50%, 10/01/28

    4,840       5,983,644  

County of Hudson New Jersey Improvement Authority, RB:

   

CAB, Series A-1 (NPFGC), 0.00%, 12/15/32(b)

    1,000       580,080  
Security   Par
(000)
    Value  
County/City/Special District/School District (continued)  

County of Hudson New Jersey Improvement Authority, RB (continued):

   

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

  $ 3,000     $ 3,063,510  

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

    5,000       5,108,900  

County of Middlesex New Jersey Improvement Authority, RB, Senior Citizens Housing Project, AMT (AMBAC), 5.50%, 09/01/30

    500       501,400  

County of Monmouth New Jersey Improvement Authority, Refunding RB, Governmental Loan (AMBAC):

   

5.00%, 12/01/18

    5       5,013  

5.38%, 12/01/18

    5       5,015  

5.00%, 12/01/19

    5       5,012  

County of Union New Jersey, GO, Refunding(a):

   

4.00%, 03/01/21

    75       78,852  

4.00%, 03/01/21

    70       73,595  

4.00%, 03/01/21

    80       84,109  

4.00%, 03/01/21

    3,575       3,768,693  

4.00%, 03/01/21

    3,580       3,773,964  

4.00%, 03/01/21

    4,045       4,264,158  

County of Union New Jersey Utilities Authority, Refunding RB, Resources Recovery Facility, Covanta Union, Inc., AMT, Series A, 5.25%, 12/01/31

    650       710,379  

New Jersey EDA, RB, Motor Vehicle Surcharge, Series A(c):

   

5.25%, 07/01/26

    1,415       1,699,542  

(NPFGC), 5.25%, 07/01/25

    535       632,857  

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

   

5.50%, 03/01/21

    7,430       8,116,160  

5.50%, 03/01/22

    4,200       4,701,438  

Township of Irvington New Jersey, GO, Refunding Series A (AGM), 5.00%, 07/15/33

    1,175       1,290,303  
   

 

 

 
      75,724,272  
Education — 23.5%            

County of Gloucester New Jersey Improvement Authority, RB, Rowan University General Capital Improvement Projects:

   

5.00%, 07/01/44

    1,985       2,153,804  

Series A, 5.00%, 07/01/31

    1,950       2,158,572  
 

 

 

     1  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Education (continued)            

County of Gloucester New Jersey Improvement Authority, RB, Rowan University General Capital Improvement Projects (continued):

   

Series A, 5.00%, 07/01/32

  $ 1,775     $ 1,960,079  

Series A, 5.00%, 07/01/33

    2,250       2,478,600  

Series A, 5.00%, 07/01/34

    1,200       1,318,716  

New Jersey EDA, LRB, Rutgers — The State University of New Jersey, College Avenue Redevelopment Project, 5.00%, 06/15/33

    3,065       3,382,902  

New Jersey EDA, RB, Provident Group — Rowan Properties LLC, Series A:

   

5.00%, 01/01/35

    2,000       2,117,080  

5.00%, 01/01/48

    2,000       2,101,540  

New Jersey Educational Facilities Authority, RB:

   

Higher Educational Capital Improvement Fund, Series A, 5.00%, 09/01/33

    5,370       5,664,330  

Rider University Issue, Series F, 4.00%, 07/01/42

    2,365       2,208,295  

Rider University Issue, Series F, 5.00%, 07/01/47

    2,185       2,311,599  

New Jersey Educational Facilities Authority, Refunding RB:

   

College of New Jersey, Series F, 4.00%, 07/01/35

    1,280       1,309,517  

Montclair State University, Series A, 5.00%, 07/01/39

    15,555       17,201,030  

Montclair State University, Series A, 5.00%, 07/01/44

    3,540       3,899,983  

New Jersey Institute of Technology, Series H, 5.00%, 07/01/31

    4,000       4,227,440  

Princeton University, Series C, 5.00%, 07/01/29

    3,730       4,469,099  

Seton Hall University, Series D, 5.00%, 07/01/38

    500       549,500  

Seton Hall University, Series D, 5.00%, 07/01/43

    600       655,488  

Stevens Institute of Technology, Series A, 5.00%, 07/01/42

    1,150       1,273,729  

Stevens Institute of Technology, Series A, 4.00%, 07/01/47

    1,145       1,154,584  

Stockton University, Series A, 5.00%, 07/01/41

    2,370       2,536,966  

William Paterson University (AGC), 5.00%, 07/01/18(a)

    230       231,237  
Security   Par
(000)
    Value  
Education (continued)            

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

   

William Paterson University (AGC), 5.00%, 07/01/28

  $ 20     $ 20,095  

William Paterson University (AGC), 4.75%, 07/01/34

    380       381,391  

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

   

4.00%, 12/01/28

    1,130       1,155,617  

4.50%, 12/01/28

    2,300       2,387,630  

4.00%, 12/01/29

    5,475       5,579,134  

4.00%, 12/01/29

    750       761,910  

4.50%, 12/01/29

    2,880       2,986,013  

4.63%, 12/01/30

    2,815       2,932,132  

4.00%, 12/01/31

    1,220       1,235,775  

4.25%, 12/01/32

    1,965       2,014,007  

4.13%, 12/01/35

    750       753,870  

4.50%, 12/01/36

    1,730       1,778,924  

New Jersey Higher Education Student Assistance Authority, Refunding RB, Series 1, AMT:

   

5.38%, 12/01/24

    905       966,323  

5.50%, 12/01/26

    1,085       1,151,771  

New Jersey Institute of Technology, RB, Series A:

   

5.00%, 07/01/22(a)

    2,120       2,360,260  

5.00%, 07/01/42

    4,825       5,201,881  

5.00%, 07/01/45

    7,500       8,302,200  

Rutgers — The State University of New Jersey, Refunding RB, Series L, 5.00%, 05/01/30

    1,565       1,732,220  
   

 

 

 
      107,065,243  
Health — 17.9%            

County of Camden New Jersey Improvement Authority, Refunding RB, Cooper Healthcare System, Series A, 5.00%, 02/15/33

    2,000       2,142,820  

New Jersey Health Care Facilities Financing Authority, RB:

   

Inspira Health Obligated Group, 5.00%, 07/01/42

    2,270       2,514,229  

Meridian Health System Obligated Group, (AGC), Series I, 5.00%, 07/01/18(a)

    1,390       1,397,478  

Meridian Health System Obligated Group, (AGC), Series II, 5.00%, 07/01/18(a)

    6,865       6,901,934  
 

 

 

2   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
     Value  
Health (continued)             

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

    

Meridian Health System Obligated Group, Series V (AGC), 5.00%, 07/01/18(a)

  $ 4,625      $ 4,649,883  

Robert Wood Johnson University Hospital, Series A, 5.50%, 07/01/43

    7,105        7,973,871  

Virtua Health, Series A (AGC), 5.50%, 07/01/38

    4,035        4,194,181  

New Jersey Health Care Facilities Financing Authority, Refunding RB:

    

AHS Hospital Corp., 5.50%, 07/01/21(a)

    4,055        4,483,978  

AHS Hospital Corp., 6.00%, 07/01/21(a)

    4,180        4,685,905  

Catholic Health East Issue, 5.00%, 11/15/33

    1,925        2,052,801  

Hackensack University Medical Center (AGM), 4.63%, 01/01/20(a)

    7,795        8,128,002  

Meridian Health System Obligated Group, 5.00%, 07/01/25

    1,000        1,100,740  

Meridian Health System Obligated Group, 5.00%, 07/01/26

    3,720        4,080,840  

Princeton Healthcare System, 5.00%, 07/01/34

    1,330        1,468,559  

Princeton Healthcare System, 5.00%, 07/01/39

    1,825        1,989,433  

RWJ Barnabas Health Obligated Group, Series A, 4.00%, 07/01/43

    1,865        1,894,821  

RWJ Barnabas Health Obligated Group, Series A, 5.00%, 07/01/43

    3,080        3,384,797  

St. Barnabas Health Care System, Series A, 5.00%, 07/01/21(a)

    3,640        3,946,270  

St. Barnabas Health Care System, Series A, 5.00%, 5.63%, 07/01/21(a)

    4,450        4,908,884  

St. Barnabas Health Care System, Series A, 5.00%, 5.63%, 07/01/21(a)

    4,860        5,361,163  

Virtua Health, 5.00%, 07/01/28

    3,000        3,313,560  

Virtua Health, 5.00%, 07/01/29

    715        786,214  
    

 

 

 
       81,360,363  
Housing — 6.4%             

County of Atlantic New Jersey Improvement Authority, RB, Stockton University Atlantic City, Series A (AGM), 4.00%, 07/01/46

    1,300        1,321,710  
Security   Par
(000)
     Value  
Housing (continued)             

New Jersey Housing & Mortgage Finance Agency, RB:

    

Capital Fund Program, Series A (AGM), 5.00%, 05/01/27

  $ 4,940      $ 4,950,325  

M/F Housing, Series A, 4.55%, 11/01/43

    4,710        4,823,134  

S/F Housing, Series B, 4.50%, 10/01/30

    8,630        8,955,869  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, AMT:

    

M/F Housing, Series 2, 4.60%, 11/01/38

    3,120        3,213,195  

M/F Housing, Series 2, 4.75%, 11/01/46

    3,795        3,906,383  

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

    525        525,420  

Series D, 4.25%, 11/01/37

    490        490,328  

Series D, 4.35%, 11/01/42

    1,000        1,001,340  
    

 

 

 
       29,187,704  
State — 24.9%             

Garden State Preservation Trust, RB, CAB, Series B (AGM)(b):

    

0.00%, 11/01/23

    15,725        13,364,992  

0.00%, 11/01/25

    10,000        7,899,400  

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

    

5.25%, 11/01/20

    5,000        5,362,250  

5.25%, 11/01/21

    7,705        8,426,573  

New Jersey EDA, RB:

    

CAB, Motor Vehicle Surcharge, Series A (NPFGC), 0.00%, 07/01/21(b)

    2,325        2,123,237  

Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 07/01/25

    4,465        5,055,809  

Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 07/01/24

    1,785        1,996,630  

Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 07/01/26

    6,085        6,812,279  

School Facilities Construction (AGC), 6.00%, 12/15/18(a)

    3,960        4,062,168  

School Facilities Construction (AGC), 6.00%, 12/15/18(a)

    40        41,044  

School Facilities Construction, Series KK, 5.00%, 03/01/38

    325        337,789  

Series Y, 5.00%, 09/01/18(a)

    1,000        1,010,470  

Series WW, 5.25%, 06/15/33

    380        408,914  

Series WW, 5.00%, 06/15/34

    5,500        5,799,255  

Series WW, 5.00%, 06/15/36

    3,115        3,280,562  
 

 

 

     3  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
State (continued)            

New Jersey EDA, RB (continued):

   

Series WW, 5.25%, 06/15/40

  $ 8,375     $ 8,932,105  

New Jersey EDA, Refunding RB:

   

Cigarette Tax, 5.00%, 06/15/24

    5,000       5,370,600  

Cigarette Tax, 5.00%, 06/15/26

    1,250       1,338,150  

Cigarette Tax, 5.00%, 06/15/28

    2,430       2,592,640  

Cigarette Tax, 5.00%, 06/15/29

    3,195       3,403,761  

School Facilities Construction, Series N-1 (NPFGC), 5.50%, 09/01/27

    1,000       1,179,800  

School Facilities Construction, Series NN, 5.00%, 03/01/29

    5,000       5,269,050  

Sub Series A, 5.00%, 07/01/33

    3,875       4,169,655  

Sub Series A, 4.00%, 07/01/34

    8,800       8,594,608  

Sub-Series A, 4.00%, 07/01/32

    5,000       4,962,400  

State of New Jersey, COP, Equipment Lease Purchase, Series A, 5.25%, 06/15/19(a)

    1,580       1,638,144  
   

 

 

 
      113,432,285  
Tobacco — 4.0%            

Tobacco Settlement Financing Corp., Refunding RB:

   

Series A, 5.25%, 06/01/46

    1,560       1,732,583  

Sub-Series B, 5.00%, 06/01/46

    15,515       16,278,648  
   

 

 

 
      18,011,231  
Transportation — 34.5%            

Delaware River Port Authority, RB:

   

5.00%, 01/01/29

    2,000       2,220,060  

5.00%, 01/01/37

    8,830       9,661,345  

Series D, 5.05%, 01/01/35

    1,430       1,493,792  

Series D (AGM), 5.00%, 01/01/40

    5,200       5,437,328  

New Brunswick Parking Authority, Refunding RB, City Guaranteed, Series B (AGM):

   

3.00%, 09/01/39

    2,500       2,203,350  

4.00%, 09/01/40

    2,000       2,036,840  

New Jersey EDA, RB, Goethals Bridge Replacement Project, AMT, Private Activity Bond:

   

5.38%, 01/01/43

    7,730       8,422,840  

5.13%, 01/01/34

    2,290       2,491,864  

New Jersey State Turnpike Authority, RB:

   

Series A, 5.00%, 01/01/35

    1,440       1,634,717  

Series E, 5.00%, 01/01/45

    8,000       8,772,160  
Security   Par
(000)
    Value  
Transportation (continued)            

New Jersey State Turnpike Authority, Refunding RB:

   

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

  $ 4,000     $ 4,860,880  

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

    4,000       4,906,640  

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

    500       607,610  

Series E, 5.00%, 01/01/32

    1,850       2,148,220  

Series G, 4.00%, 01/01/43

    3,320       3,408,345  

New Jersey Transportation Trust Fund Authority, RB:

   

CAB, Transportation System, Series A, 0.00%, 12/15/35(b)

    6,000       2,579,040  

CAB, Transportation System, Series C (AMBAC), 0.00%, 12/15/36(b)

    7,210       2,970,304  

CAB, Transportation System, Series C (AGM), 0.00%, 12/15/32(b)

    8,800       4,820,200  

CAB, Transportation System, Series C (AMBAC), 0.00%, 12/15/35(b)

    4,160       1,806,688  

Federal Highway Reimbursement Revenue Notes, Series A, 5.00%, 06/15/29

    1,300       1,303,965  

Federal Highway Reimbursement Revenue Notes, Series A, 5.00%, 06/15/30

    2,250       2,458,395  

Federal Highway Reimbursement Revenue Notes, Series A, 5.00%, 06/15/31

    1,000       1,003,010  

Federal Highway Reimbursement Revenue Notes, Series A-2, 5.00%, 06/15/30

    10,520       10,551,770  

Transportation Program, Series AA, 5.00%, 06/15/33

    3,000       3,132,480  

Transportation Program, Series AA, 5.25%, 06/15/33

    5,690       6,032,254  

Transportation Program, Series AA, 5.25%, 06/15/34

    1,305       1,399,286  

Transportation Program, Series AA, 5.00%, 06/15/38

    2,340       2,446,423  

Transportation System, Series A, 6.00%, 06/15/35

    6,365       6,939,250  

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

    2,780       2,843,745  

Transportation System, Series A (NPFGC), 5.75%, 06/15/24

    1,205       1,380,978  

Transportation System, Series B, 5.25%, 06/15/36

    2,500       2,599,600  
 

 

 

4   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Transportation (continued)            

New Jersey Transportation Trust Fund Authority, RB (continued):

   

Transportation System, Series D, 5.00%, 06/15/32

  $ 3,300     $ 3,501,927  

New Jersey Turnpike Authority, Refunding RB, Series B, 5.00%, 01/01/40

    11,000       12,467,950  

Port Authority of New York & New Jersey, ARB:

   

Consolidated, 93rd Series, 6.13%, 06/01/94

    1,000       1,188,380  

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

    3,000       3,149,700  

Special Project, JFK International Air Terminal LLC Project, Series 8, 6.00%, 12/01/42

    4,000       4,373,920  

Port Authority of New York & New Jersey, Refunding ARB, AMT:

   

178th Series, 5.00%, 12/01/33

    4,005       4,400,734  

Consolidated, 152nd Series, 5.75%, 11/01/30

    6,000       6,000,000  

Consolidated, 206th Series, 5.00%, 11/15/42

    3,110       3,472,066  

Consolidated, 206th Series, 5.00%, 11/15/47

    3,475       3,864,687  
   

 

 

 
      156,992,743  
Utilities — 5.4%  

County of Essex New Jersey Utilities Authority, Refunding RB, (AGC), 4.13%, 04/01/22

    2,000       2,033,340  

North Hudson New Jersey Sewerage Authority, Refunding RB, Series A (NPFGC), 5.13%, 08/01/20(c)

    6,045       6,452,373  

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

   

0.00%, 09/01/26

    4,100       3,144,659  

0.00%, 09/01/28

    6,600       4,706,526  

0.00%, 09/01/29

    9,650       6,600,793  

0.00%, 09/01/33

    2,350       1,355,832  
   

 

 

 
      24,293,523  
   

 

 

 

Total Municipal Bonds — 137.6%
(Cost — $600,102,749)

 

    626,184,071  
   

 

 

 
Security   Par
(000)
    Value  

Municipal Bonds Transferred to Tender Option Bond Trusts(d)

 

New Jersey — 26.9%  
County/City/Special District/School District — 5.9%  

County of Union New Jersey Utilities Authority, Refunding RB, Series A, AMT:

   

County Deficiency Agreement, 5.00%, 06/15/41

  $ 7,573     $ 8,162,829  

Resource Recovery Facility, Covanta Union, Inc., 5.25%, 12/01/31

    17,300       18,888,832  
   

 

 

 
      27,051,661  
Education — 3.6%  

Rutgers — The State University of New Jersey, Refunding RB:

   

Series F, 5.00%, 05/01/19(a)

    4,998       5,152,974  

Series L, 5.00%, 05/01/43

    10,000       11,014,400  
   

 

 

 
      16,167,374  
Health — 1.3%  

New Jersey Health Care Facilities Financing Authority, RB, Inspira Health Obligated Group, 4.00%, 07/01/47

    6,133       6,121,965  
   

 

 

 
State — 4.8%  

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

    12,460       14,662,803  

New Jersey EDA, Refunding RB, School Facilities Construction, Series NN, 5.00%, 03/01/29(e)

    6,698       7,058,566  
   

 

 

 
      21,721,369  
Transportation — 11.3%  

County of Hudson New Jersey Improvement Authority, RB, Hudson County Vocational-Technical Schools Project, 5.25%, 05/01/51

    3,120       3,516,544  

New Jersey State Turnpike Authority, RB, Series A, 5.00%, 07/01/22(a)(e)

    9,300       10,320,489  

New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 06/15/36(e)

    2,661       2,766,621  

Port Authority of New York & New Jersey, Refunding ARB, Consolidated, AMT:

   

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

    7,827       7,827,299  

163rd Series, 5.00%, 07/15/39

    15,545       16,481,492  
 

 

 

     5  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)
    Value  
Transportation (continued)            

Port Authority of New York & New Jersey, Refunding ARB, Consolidated, AMT (continued):

   

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

  $ 10,000     $ 10,663,150  
   

 

 

 
      51,575,595  
   

 

 

 

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 26.9%
(Cost — $116,405,203)

      122,637,964  
   

 

 

 

Total Long-Term Investments — 164.5%
(Cost — $716,507,952)

      748,822,035  
   

 

 

 
Security   Shares     Value  
Short-Term Securities — 0.5%            

BlackRock Liquidity Funds, MuniCash, Institutional Class,
1.48%(f)(g)

    2,163,472     $ 2,163,472  
   

 

 

 

Total Short-Term Securities
(Cost — $2,163,472) — 0.5%

      2,163,472  
   

 

 

 

Total Investments — 165.0%
(Cost — $718,671,424)

      750,985,507  

Other Assets Less Liabilities — 2.0%

      9,119,891  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (15.0)%

      (68,305,628

VRDP Shares at Liquidation Value, Net of Deferred
Costs — (52.0)%

      (236,623,062
   

 

 

 

Net Assets Applicable to Common Shares — 100.0%

    $ 455,176,708  
   

 

 

 
 
(a)  U.S. 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.
(b)  Zero-coupon bond.
(c)  Security is collateralized by municipal bonds or U.S. Treasury obligations.
(d)  Represent bonds transferred to a TOB Trust in exchange of cash and residual certificates received by the Fund. These bonds serve as collateral in a secured borrowing.
(e)  All or a portion of security is subject to a recourse agreement. The aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire between June 15, 2019 to September 1, 2020, is $13,907,845.
(f)  Annualized 7-day yield as of period end.
(g)  During the period ended April 30, 2018, investments in issuers considered to be an affiliate of the Fund for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated    Shares
Held at
07/31/17
     Net
Activity
     Shares
Held at
04/30/18
     Value at
04/30/18
     Income      Net
Realized
Gain (Loss) 
(a)
     Change in
Unrealized
Appreciation
(Depreciation)
 

BlackRock Liquidity Funds, MuniCash, Institutional Class

     20,456,541        (18,293,069      2,163,472      $ 2,163,472      $ 28,996      $ 748      $ (1,296
           

 

 

    

 

 

    

 

 

    

 

 

 

 

  (a)  Includes net capital gain distributions, if applicable.  

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

 

 

6   


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Description    Number of
Contracts
       Expiration
Date
       Notional
Amount (000)
       Value /
Unrealized
Appreciation
(Depreciation)
 

Short Contracts:

                 

10-Year U.S. Treasury Note

     120          06/20/18        $ 14,355        $ 98,257  

Long U.S. Treasury Bond

     98          06/20/18          14,097          41,969  

5-Year U.S. Treasury Note

     35          06/29/18          3,973          22,663  
                 

 

 

 
                  $ 162,889  
                 

 

 

 

Portfolio Abbreviations

AGC — Assured Guarantee Corp.

AGM — Assured Guaranty Municipal Corp.

AMBAC — American Municipal Bond Assurance Corp.

AMT — Alternative Minimum Tax (subject to)

ARB — Airport Revenue Bonds

BAM — Build America Mutual Assurance Co.

BHAC — Berkshire Hathaway Assurance Corp.

CAB — Capital Appreciation Bonds

COP — Certificates of Participation

EDA — Economic Development Authority

GO — General Obligation Bonds

LRB — Lease Revenue Bonds

M/F — Multi-Family

NPFGC — National Public Finance Guarantee Corp.

RB — Revenue Bonds

S/F — Single-Family

 

 

     7  


Schedule of Investments  (unaudited) (continued)

April 30, 2018

  

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

 

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

    Level 1 — Unadjusted quotations prices in active markets/exchanges for identical assets or liabilities that 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 Fund’s own assumptions used in determining the fair value of investments and derivative financial instruments)

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 fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value 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 investments 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, refer to the Fund’s most recent financial statements as contained in its semi-annual report.

The following table summarizes the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Investments:

                 

Long-Term Investments(a)

   $        $ 748,822,035        $        $ 748,822,035  

Short-Term Securities

     2,163,472                            2,163,472  
  

 

 

      

 

 

      

 

 

      

 

 

 

Total

   $ 2,163,472        $ 748,822,035        $        $ 750,985,507  
  

 

 

      

 

 

      

 

 

      

 

 

 

Derivative Financial Instruments(b)

                 

Assets:

                 

Interest rate contracts

   $ 162,889        $        $        $ 162,889  
  

 

 

      

 

 

      

 

 

      

 

 

 

 

  (a)  See above Schedule of Investments for values in each sector.  
  (b)  Derivative financial instruments are futures contracts which are valued at the unrealized appreciation (depreciation) on the instrument.  

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Liabilities:

                 

TOB Trust Certificates

   $        $ (67,964,668      $        $ (67,964,668

VRDP Shares at Liquidation Value

              (237,100,000                 (237,100,000
  

 

 

      

 

 

      

 

 

      

 

 

 
   $        $ (305,064,668      $        $ (305,064,668
  

 

 

      

 

 

      

 

 

      

 

 

 

During the period ended April 30, 2018, there were no transfers between levels.

 

 

8   


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 18, 2018  

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 18, 2018
By:  

/s/ Neal J. Andrews

 
  Neal J. Andrews  
  Chief Financial Officer (principal financial officer) of
  BlackRock MuniHoldings New Jersey Quality Fund, Inc.
Date: June 18, 2018