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: 07/31/2015

Date of reporting period: 04/30/2015


Item 1 – Schedule of Investments


Schedule of Investments April 30, 2015 (Unaudited)

  

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

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

    Value  

New Jersey — 134.2%

                

Corporate — 2.8%

  

New Jersey EDA, Refunding RB:

    

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

   $ 7,500      $ 8,597,175   

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

     3,150        3,557,516   

United Water of New Jersey, Inc., Series B (AMBAC), 4.50%, 11/01/25

     1,000        1,090,740   
    

 

 

 
               13,245,431   

County/City/Special District/School District — 19.7%

  

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

     3,440        3,502,402   

Casino Reinvestment Development Authority, Refunding RB, 5.25%, 11/01/39

     11,130        11,813,827   

City of Perth Amboy, GO, Refunding (AGM):

    

5.00%, 7/01/17 (a)

     4,540        4,961,631   

5.00%, 7/01/32

     2,210        2,300,654   

5.00%, 7/01/33

     670        697,631   

5.00%, 7/01/35

     595        618,264   

5.00%, 7/01/37

     705        730,013   

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

    

AMT, 4.75%, 11/01/32

     1,000        1,032,130   

Project Consolidation, 5.50%, 10/01/28

     4,840        6,180,825   

Project Consolidation, 5.50%, 10/01/27

     250        318,427   

County of Hudson New Jersey, COP, Refunding, (NPFGC), 6.25%, 12/01/16

     1,000        1,076,200   

County of Hudson New Jersey Improvement Authority, RB:

    

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

     1,000        512,400   

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

     1,000        1,063,890   

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

     3,000        3,340,980   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

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

  

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

    

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

   $ 5,000      $ 5,552,800   

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

     500        501,885   

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

    

5.35%, 12/01/17

     5        5,021   

5.38%, 12/01/18

     5        5,021   

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

    

5.25%, 12/01/15

     5        5,019   

5.00%, 12/01/17

     5        5,014   

5.00%, 12/01/18

     5        5,013   

5.00%, 12/01/19

     5        5,012   

County of Union New Jersey, GO, Refunding:

    

4.00%, 3/01/21 (a)

     225        255,874   

4.00%, 3/01/29

     3,575        3,786,604   

4.00%, 3/01/30

     3,580        3,778,117   

4.00%, 3/01/31

     4,045        4,257,727   

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

    

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

     650        709,579   

Solid Waste System, County Deficiency Agreement, 5.00%, 6/15/41

     7,570        8,438,052   

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

    

4.25%, 3/01/34

     1,535        1,650,079   

4.25%, 3/01/35

     1,600        1,719,200   

4.30%, 3/01/36

     1,670        1,798,339   

Morristown Parking Authority, RB, (NPFGC):

    

5.00%, 8/01/30

     1,830        1,975,668   

5.00%, 8/01/33

     3,000        3,228,900   

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015    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)

                

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

  

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

    

5.50%, 3/01/21

   $ 7,430      $ 9,037,035   

5.50%, 3/01/22

     4,200        5,204,094   

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

     1,720        1,734,328   

Township of Irvington, GO, Refunding Series A (AGM), 5.00%, 7/15/33

     1,700        1,930,690   
    

 

 

 
               93,738,345   

Education — 34.1%

  

Gloucester County Improvement Authority, RB, Rowan University General Capital Improvement Projects, Series A:

    

5.00%, 7/01/31

     1,950        2,200,166   

5.00%, 7/01/32

     1,775        1,991,390   

5.00%, 7/01/33

     2,250        2,522,273   

5.00%, 7/01/34

     1,200        1,338,696   

New Jersey EDA, LRB, Rutgers—The State University of New Jersey, College Avenue Redevelopment Project, 5.00%, 6/15/33

     3,065        3,494,498   

New Jersey EDA, RB:

    

Rowan Properties LLC, Series A, 5.00%, 1/01/35

     2,000        2,142,400   

Rowan Properties LLC, Series A, 5.00%, 1/01/48

     2,000        2,114,560   

New Jersey Educational Facilities Authority, RB:

    

Higher Educational Capital Improvement Fund, Series A, 5.00%, 9/01/26

     3,300        3,627,690   

Higher Educational Capital Improvement Fund, Series A, 5.00%, 9/01/33

     6,370        6,739,715   

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

     2,880        3,033,331   

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

     2,625        2,741,865   

New Jersey Educational Facilities Authority, Refunding RB:

    

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

     13,545        14,880,943   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

Education (continued)

  

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

    

Montclair State University, Series A, 5.00%, 7/01/39

   $ 15,555      $ 17,539,974   

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

     6,540        6,628,486   

Montclaire State University, Series A, 5.00%, 7/01/44

     3,540        3,976,907   

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

     4,000        4,498,520   

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

     2,500        2,542,400   

Rowan University, Series B (AGC), 5.00%, 7/01/26

     2,575        2,852,559   

Seton Hall University, Series D, 5.00%, 7/01/38

     500        551,185   

Seton Hall University, Series D, 5.00%, 7/01/43

     600        661,200   

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

     2,800        2,971,808   

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

     2,400        2,552,064   

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

     250        276,130   

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

     5,115        5,562,102   

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

    

4.00%, 12/01/28

     1,500        1,515,135   

4.50%, 12/01/28

     4,550        4,775,134   

4.00%, 12/01/29

     5,715        5,717,800   

4.00%, 12/01/29

     1,000        1,011,680   

4.50%, 12/01/29

     5,700        5,995,203   

4.63%, 12/01/30

     5,555        5,845,082   

4.00%, 12/01/31

     1,625        1,622,449   

4.25%, 12/01/32

     2,050        2,069,393   

4.13%, 12/01/35

     1,000        996,260   

4.50%, 12/01/36

     1,805        1,858,067   

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

    

5.38%, 12/01/24

     1,500        1,670,625   

5.50%, 12/01/26

     1,800        1,992,492   

 

                
2    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015   


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 Institute of Technology, RB, Series A:

    

5.00%, 7/01/42

   $ 6,945      $ 7,716,451   

5.00%, 7/01/45

     7,500        8,366,850   

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

    

5.00%, 5/01/30

     1,565        1,800,626   

5.00%, 5/01/43

     10,000        11,239,500   
    

 

 

 
               161,633,609   

Health — 16.0%

  

County of Camden Improvement Authority, Refunding RB, The Cooper Health Systen, Series A, 5.00%, 2/15/33

     2,000        2,182,520   

New Jersey Health Care Facilities Financing Authority, RB:

    

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

     1,420        1,515,396   

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

     7,025        7,496,939   

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

     4,740        5,058,433   

Robert Wood Johnson University Hospital, Series A, 5.50%, 7/01/43

     7,105        8,210,467   

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

     4,035        4,499,469   

New Jersey Health Care Facilities Financing Authority, Refunding RB:

    

5.00%, 7/01/28

     3,000        3,456,150   

5.00%, 7/01/29

     715        819,311   

5.50%, 7/01/31

     4,055        4,784,454   

AHS Hospital Corp., 6.00%, 7/01/41

     4,180        5,000,910   

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

     1,925        2,158,811   

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

     1,500        1,607,850   

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

     7,795        8,231,364   

Meridian Health System Obligated Group, 5.00%, 7/01/25

     1,000        1,140,940   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

Health (concluded)

  

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

    

Meridian Health System Obligated Group, 5.00%, 7/01/26

     3,720        4,218,443   

St. Barnabas Health Care System, Series A, 5.00%, 7/01/24

     3,640        4,114,947   

St. Barnabas Health Care System, Series A, 5.63%, 7/01/32

     4,450        5,108,645   

St. Barnabas Health Care System, Series A, 5.63%, 7/01/37

     4,860        5,520,668   

St. Luke’s Warren Hospital Obligated Group, 4.00%, 8/15/37

     620        613,651   
    

 

 

 
               75,739,368   

Housing — 7.0%

  

New Jersey Housing & Mortgage Finance Agency, RB:

    

Capital Fund Program, Series A (AGM), 5.00%, 5/01/27

     6,770        7,272,876   

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

     5,000        5,133,050   

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

     1,335        1,338,257   

S/F Housing, Series AA, 6.50%, 10/01/38

     560        581,426   

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

     9,455        9,949,686   

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

    

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

     3,470        3,590,131   

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

     4,220        4,350,060   

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

     885        895,328   
    

 

 

 
               33,110,814   

State — 25.6%

  

Garden State Preservation Trust, RB:

    

CAB, Series B (AGM), 0.00%, 11/01/23 (b)

     15,725        12,794,646   

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015    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 (continued)

               

State (continued)

  

Garden State Preservation Trust, RB (concluded):

   

CAB, Series B (AGM), 0.00%, 11/01/25 (b)

  $ 10,000      $ 7,471,200   

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

    1,960        2,015,292   

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

    2,730        2,807,013   

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

    2,605        2,678,487   

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

   

5.25%, 11/01/20

    5,000        5,930,050   

5.25%, 11/01/21

    7,705        9,270,656   

New Jersey EDA, RB:

   

CAB, Motor Vehicle Surcharge, Series A (NPFGC), 0.00%, 7/01/21 (b)

    2,325        1,970,484   

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

    2,670        2,680,520   

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

    1,785        2,110,316   

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

    5,000        5,936,200   

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

    7,500        8,926,425   

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

    18,105        18,438,132   

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

    3,960        4,639,853   

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

    40        46,061   

School Facilities Construction, Series KK, 5.00%, 3/01/38

    325        337,093   

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

    2,810        3,004,059   

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

    1,070        1,149,747   

School Facilities Construction, Series UU, 5.00%, 6/15/30

    5,000        5,343,400   

School Facilities Construction, Series UU, 5.00%, 6/15/34

    1,390        1,468,104   

School Facilities Construction, Series UU, 5.00%, 6/15/40

    3,440        3,580,455   

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

    3,000        3,209,070   
Municipal Bonds  

Par  

(000)

    Value  

New Jersey (continued)

               

State (concluded)

  

New Jersey EDA, Refunding RB:

   

Cigarette Tax, 5.00%, 6/15/26

  $ 1,250      $ 1,387,488   

Cigarette Tax, 5.00%, 6/15/28

    2,430        2,657,715   

Cigarette Tax, 5.00%, 6/15/29

    3,195        3,477,981   

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

    1,000        1,167,550   

School Facilities Construction, Series NN, 5.00%, 3/01/29

    5,000        5,315,950   

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

    1,580        1,758,477   
   

 

 

 
              121,572,424   

Transportation — 24.1%

  

Delaware River Port Authority, RB:

   

5.00%, 1/01/29

    2,000        2,285,220   

5.00%, 1/01/37

    8,830        9,939,225   

Series D, 5.05%, 1/01/35

    1,430        1,599,083   

Series D (AGM), 5.00%, 1/01/40

    5,200        5,766,696   

New Jersey EDA, RB, The Goethals Bridge Replacement Project, AMT:

   

Private Activity Bond, 5.13%, 1/01/34

    2,290        2,521,977   

5.38%, 1/01/43

    7,730        8,548,916   

New Jersey State Turnpike Authority, RB, Growth & Income Securities, Series B (AMBAC), 5.15%, 1/01/35

    10,620        11,251,040   

New Jersey State Turnpike Authority, Refunding RB:

   

Series A (AGM), 5.25%, 1/01/26

    1,000        1,225,620   

Series A (AGM), 5.25%, 1/01/29

    4,000        4,897,000   

Series A (AGM), 5.25%, 1/01/30

    4,000        4,916,840   

Series A (BHAC), 5.25%, 1/01/29

    500        617,130   

Series C (NPFGC), 6.50%, 1/01/16 (c)

    255        265,651   

Series C (NPFGC), 6.50%, 1/01/16 (c)

    210        218,772   

Series C (NPFGC), 6.50%, 1/01/16 (c)

    305        317,740   

 

                
4    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015   


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)

                

Transportation (continued)

    

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

    

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

   $ 605      $ 629,835   

New Jersey Transportation Trust Fund Authority, RB:

    

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

     7,210        2,331,930   

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

     6,000        2,140,680   

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

     8,800        3,873,848   

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

     4,160        1,426,131   

Transportation Program, Series AA, 5.00%, 6/15/33

     3,000        3,138,810   

Transportation Program, Series AA, 5.25%, 6/15/33

     5,690        6,089,324   

Transportation Program, Series AA, 5.00%, 6/15/38

     2,340        2,440,901   

Transportation System, Series A, 6.00%, 6/15/35

     6,365        7,654,040   

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

     1,205        1,428,154   

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

     2,780        3,201,170   

Transportation System, Series B, 5.25%, 6/15/36

     2,500        2,634,825   

Port Authority of New York & New Jersey, ARB:

    

Consolidated, 93rd Series, 6.13%, 6/01/94

     1,000        1,201,900   

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

     3,000        3,008,910   

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

     1,500        1,530,690   

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

    

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

     4,005        4,440,824   

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

     7,175        8,042,458   
Municipal Bonds    Par  
(000)
    Value  

New Jersey (concluded)

                

Transportation (concluded)

    

Port Authority of New York & New Jersey, JFK International Air Terminal LLC Project, ARB, Special Project, Series 8, 6.00%, 12/01/42

   $ 4,000      $ 4,705,040   
    

 

 

 
        114,290,380   

Utilities — 4.9%

    

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

     2,000        2,162,400   

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

     6,045        7,182,790   

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

    

0.00%, 9/01/26

     4,100        2,799,767   

0.00%, 9/01/28

     6,600        4,095,696   

0.00%, 9/01/29

     9,650        5,713,186   

0.00%, 9/01/33

     2,350        1,167,879   
    

 

 

 
    23,121,718   
    

 

 

 
Total Municipal Bonds in New Jersey        636,452,089   
    

Guam — 1.8%

                

State — 1.8%

    

Territory of Guam, RB, Business Privilege Tax Bonds:

    

Series A, 5.25%, 1/01/36

     425        470,475   

Series A, 5.13%, 1/01/42

     6,600        7,203,966   

Series B-1, 5.00%, 1/01/37

     550        599,693   
Total Municipal Bonds in Guam        8,274,134   
    

Puerto Rico — 1.3%

                

Health — 1.3%

    

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        1,790,197   

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015    5


Schedule of Investments (continued)

  

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

(Percentages shown are based on Net Assets)

 

 

Municipal Bonds    Par  
(000)
    Value  

Puerto Rico (concluded)

                

Health (concluded)

    

Puerto Rico Industrial Tourist Educational Medical & Environmental Control Facilities Financing Authority, RB, Hospital De La Concepcion, Series A (concluded):

    

6.13%, 11/15/30

   $ 4,220      $ 4,325,036   
Total Municipal Bonds in Puerto Rico        6,115,233   
    

U.S. Virgin Islands — 1.1%

                

State — 1.1%

    

Virgin Islands Public Finance Authority, Refunding RB, Series C, 5.00%, 10/01/39

     4,735        5,122,749   
Total Municipal Bonds138.4%        655,964,205   
    
                  

Municipal Bonds Transferred to

Tender Option Bond Trusts (d)

            

New Jersey — 20.4%

                

County/City/Special District/School District — 4.0%

  

 

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

     17,300        18,885,718   

Education — 1.2%

    

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

     4,993        5,589,804   

State — 4.7%

    

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

     12,460        15,458,499   

New Jersey EDA, Refunding RB, 5.00%, 3/01/29 (e)

     6,698        7,121,414   
    

 

 

 
        22,579,913   

Transportation — 10.5%

    

New Jersey State Turnpike Authority, RB, Series A, 5.00%, 1/01/38 (e)

     9,300        10,264,131   

Municipal Bonds Transferred to

Tender Option Bond Trusts (d)

   Par  
(000)
    Value  

New Jersey (concluded)

                

Transportation (concluded)

    

New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series B, 5.25%, 6/15/36 (e)

   $ 2,661      $ 2,804,068   

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

     15,545        17,422,500   

Port Authority of New York & New Jersey, RB, Consolidated, 169th Series, AMT, 5.00%, 10/15/41

     10,000        10,752,500   

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

     7,827        8,569,243   
    

 

 

 
        49,812,442   

Total Municipal Bonds Transferred to

Tender Option Bond Trusts20.4%

  

  

    96,867,877   
Total Long-Term Investments
(Cost — $697,209,159) — 158.8%
        752,832,082   
    
                  
Short-Term Securities    Shares         

BIF New Jersey Municipal Money Fund, 0.01% (f)(g)

     3,972,699        3,972,699   
Total Short-Term Securities
(Cost — $3,972,699) — 0.8%
        3,972,699   
Total Investments
(Cost — $701,181,858
*) — 159.6%
        756,804,781   
Other Assets Less Liabilities1.5%        7,219,593   
Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable(11.1%)         (52,758,379
VRDP Shares, at Liquidation Value(50.0%)        (237,100,000
    

 

 

 
Net Assets Applicable to Common Shares100.0%      $ 474,165,995   
    

 

 

 

 

  *   As of April 30, 2015, gross unrealized appreciation and depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

  $ 648,742,507   
 

 

 

 

Gross unrealized appreciation

  $ 57,634,044   

Gross unrealized depreciation

    (2,315,350
 

 

 

 

Net unrealized appreciation

  $ 55,318,694   
 

 

 

 

 

                
6    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015   


Schedule of Investments (continued)

  

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

 

Notes to Schedule of Investments
* Cost for federal income tax purposes.

 

(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 or U.S. Treasury obligations.

 

(d)   Represent bonds transferred to a TOB Trust in exchange of cash and residual interest 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, which may require the Fund to pay the liquidity provider in the event there is a shortfall between the TOB Trust Certificates and proceeds received from the sale of the security contributed to the TOB Trust or in the event of a default on the security. In the case of a shortfall or default, the aggregate maximum potential amount the Fund could ultimately be required to pay under the agreements, which expire from June 15, 2019 to September 1, 2020, is $13,907,845.

 

(f)   During the period ended April 30, 2015, 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:

 

Affiliate     

Shares Held

at July 31,
2014

       Net
Activity
       Shares Held
at April 30,
2015
       Income  

BIF New Jersey Municipal Money Fund

       4,710,150           (737,451        3,972,699         $ 121   

 

(g)   Represents the current yield as of report date.

 

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
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

 

Ÿ  

As of April 30, 2015, financial futures contracts outstanding were as follows:

 

Contracts
Short
    Issue   Exchange   Expiration   Notional
Value
    Unrealized
Depreciation
 
  (130   5-Year U.S. Treasury Note   Chicago Board of Trade   June 2015   $ 15,617,266      $ (141,360
  (330   10-Year U.S. Treasury Note   Chicago Board of Trade   June 2015     42,363,750        (372,961
  Total              $ (514,321
         

 

 

 

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015    7


Schedule of Investments (continued)

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

 

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 the investment advisor. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

Ÿ  

Fair Value Measurements — Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial statement purposes. 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 itsentirety. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. The three levels of the fair value hierarchy are as follows:

 

  Ÿ  

Level 1 — unadjusted quoted prices in active markets/exchanges for identical assets or liabilities that the Fund has the ability to access

 

  Ÿ  

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)

 

  Ÿ  

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. 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.

As of April 30, 2015, the following tables summarize the Fund’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

     Level 1        Level 2        Level 3        Total  

Assets:

                
Investments:                 

Long-Term Investments1

            $ 752,832,082                   $ 756,804,781   

Short-Term Securities

  $ 3,972,699                     3,972,699   
 

 

 

      

 

 

      

 

 

      

 

 

 

Total

  $ 3,972,699         $ 752,832,082                   $ 756,804,781   
 

 

 

      

 

 

      

 

 

      

 

 

 

1    See above Schedule of Investments for values in each sector.

 

       

     Level 1        Level 2        Level 3        Total  
Derivative Financial Instruments2             

Liabilities:

                

Interest rate contracts

  $ (514,321                          $ (514,321

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

       

 

                
8    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015   


Schedule of Investments (concluded)

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

 

The Fund may hold assets and/or liabilities in which the fair value approximates the carrying amount for financial reporting purposes. As of April 30, 2015, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1        Level 2        Level 3        Total  

Assets:

                

Cash pledged for financial futures contracts

  $ 631,000                             $ 631,000   

Liabilities:

                

TOB Trust Certificates

            $ (52,743,580                  (52,743,580

VRDP Shares

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

 

 

      

 

 

      

 

 

      

 

 

 

Total

  $ 631,000         $ (289,843,580                $ (289,212,580
 

 

 

      

 

 

      

 

 

      

 

 

 

During the period ended April 30, 2015, there were no transfers between levels.

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2015    9


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, 2015

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, 2015
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, 2015