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UNITEDSTATES
SECURITIESANDEXCHANGECOMMISSION
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 Insured Fund, Inc. (MUJ)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock
MuniHoldings New Jersey Insured 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: 07/31/2010

Date of reporting period: 10/31/2009

Item 1 – Schedule of Investments

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)       Value 
New Jersey - 140.5%         
Corporate - 1.6%  New Jersey EDA, RB, Disposal, Waste Management New     
  Jersey, Series A, AMT, 5.30%, 6/01/15    $ 2,500  $ 2,613,550 
New Jersey EDA, Refunding RB, New Jersey American Water          
  Co., Series A, AMT, 5.70%, 10/01/39    2,500  2,444,750 
        5,058,300 
County/City/Special  Camden County Improvement Authority, RB (FSA),     
District/School District -  5.50%, 9/01/10(a)    1,540  1,606,374 
24.2%  City of Perth Amboy New Jersey, GO, CAB (FSA),     
  5.56%, 7/01/32 (b)    4,605  4,090,161 
  City of Perth Amboy New Jersey, GO, CAB (FSA),     
  5.55%, 7/01/33 (b)    1,395  1,233,850 
  City of Perth Amboy New Jersey, GO, CAB (FSA),     
  5.05%, 7/01/37 (b)    1,470  1,291,145 
  County of Middlesex New Jersey, COP (MBIA),     
  5.50%, 8/01/16    1,375  1,474,674 
  County of Middlesex New Jersey, COP (MBIA),     
  5.25%, 6/15/23    1,550  1,554,061 
  East Orange Board Of Education, COP (FSA), 5.50%, 8/01/12  7,895  8,354,331 
Essex County Improvement Authority, RB, Guaranteed, County      
  Correctional Facilities Project (FGIC),       
  6.00%, 10/01/10 (a)    4,000  4,203,440 
Essex County Improvement Authority, RB, Guaranteed Lease,        
  County Correctional, Series A (FGIC),       
  5.00%, 10/01/13 (a)    4,400  4,984,012 
  Essex County Improvement Authority, Refunding RB, County     
  Project (MBIA), 5.50%, 10/01/27    250  281,177 
Hopatcong Boro New Jersey, GO, Refunding, Sewer (AMBAC),        
  4.50%, 8/01/33    2,690  2,699,173 
  Hudson County Improvement Authority, RB, County,     
  Guaranteed, Harrison Parking Facilities Project, Series C     
  (AGC), 5.38%, 1/01/44    3,600  3,798,288 
Lafayette Yard Community Development Corp., New Jersey,          
  RB, Hotel, Conference Center Project, Trenton Guaranteed     
  (MBIA), 6.00%, 4/01/10 (a)    5,250  5,418,420 
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.  GO  General Obligations Bonds 
AMBAC  American Municipal Bond Assurance Corp.  HFA  Housing Finance Agency 
AMT  Alternative Minimum Tax (subject to)  MBIA  Municipal Bond Investors Assurance 
CAB  Capital Appreciation Bonds    (National Public Finance Guaranty Corp.) 
CIFG  CDC IXIS Financial Guaranty  RB  Revenue Bonds 
COP  Certificates of Participation  S/F  Single-Family 
EDA  Economic Development Authority     
FGIC  Financial Guaranty Insurance Co.     
FSA  Financial Security Assurance Inc.     

1

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)       Value 
  Middlesex County Improvement Authority, RB, Guaranteed,     
  Senior Citizens Housing Project, AMT (AMBAC),     
  5.50%, 9/01/30    $ 500  $ 500,040 
Monmouth County Improvement Authority, RB, Governmental                     
  Loan (AMBAC), 5.35%, 12/01/10 (a)    695  732,349 
Monmouth County Improvement Authority, RB, Governmental                      
  Loan (AMBAC), 5.38%, 12/01/10 (a)    535  563,895 
Monmouth County Improvement Authority, RB, Governmental                     
  Loan (AMBAC), 5.35%, 12/01/17    845  857,514 
Monmouth County Improvement Authority, RB, Governmental                     
  Loan (AMBAC), 5.38%, 12/01/18    935  947,267 
  Morristown Parking Authority, RB, Guaranteed (MBIA),     
  5.00%, 8/01/30    1,830  1,908,672 
  Morristown Parking Authority, RB, Guaranteed (MBIA),     
  5.00%, 8/01/33    3,000  3,095,070 
  New Jersey State Transit Corp., COP, Subordinate, Federal     
  Transit Administration Grants, Series A-FS (FSA), 5.00%,     
  9/15/21    2,000  2,099,540 
Newark Housing Authority, Refunding RB, Additional, Newark                      
  Redevelopment Project (MBIA), 4.38%, 1/01/37  620  574,697 
  North Bergen Township Board Of Education, COP (FSA),     
  6.00%, 12/15/10 (a)    1,000  1,072,770 
  North Bergen Township Board Of Education, COP (FSA),     
  6.25%, 12/15/10 (a)    3,260  3,506,359 
  Paterson Public School District, New Jersey, COP (MBIA),     
  6.13%, 11/01/10 (a)    1,980  2,000,117 
  Paterson Public School District, New Jersey, COP (MBIA),     
  6.25%, 11/01/10 (a)    2,000  2,020,340 
Salem County Improvement Authority, RB, Finlaw State Office                    
  Building (FSA), 5.38%, 8/15/28    500  539,700 
  South Jersey Port Corp., Refunding RB, 4.50%, 1/01/15  3,750  3,946,575 
  South Jersey Port Corp., Refunding RB, 4.50%, 1/01/16  1,920  2,002,829 
  Township of West Deptford New Jersey, GO (FGIC),     
  5.63%, 9/01/10 (a)    8,580  8,958,721 
        76,315,561 
Education - 16.2%  New Jersey EDA, RB, International Center For Public Health     
  Project, University of Medicine & Dentistry (AMBAC),     
  6.00%, 6/01/32    5,000  4,926,750 
  New Jersey Educational Facilities Authority, RB, Montclair     
  State University, Series A (AMBAC), 5.00%, 7/01/21  1,200  1,254,204 
  New Jersey Educational Facilities Authority, RB, Montclair     
  State University, Series A (AMBAC), 5.00%, 7/01/22  2,880  2,992,262 
  New Jersey Educational Facilities Authority, RB, Rowan     
  University, Series C (FGIC), 5.25%, 7/01/11 (a)  790  857,632 
  New Jersey Educational Facilities Authority, RB, Rowan     
  University, Series C (MBIA), 5.00%, 7/01/14 (a)  6,875  7,866,092 
  New Jersey Educational Facilities Authority, RB, Rowan     
  University, Series C (MBIA), 5.25%, 7/01/17    2,135  2,281,589 

2

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)       Value 
  New Jersey Educational Facilities Authority, RB, Rowan     
  University, Series C (MBIA), 5.25%, 7/01/18    $ 2,535  $ 2,704,693 
  New Jersey Educational Facilities Authority, RB, Rowan     
  University, Series C (MBIA), 5.25%, 7/01/19    2,370  2,495,563 
  New Jersey Educational Facilities Authority, Refunding RB,     
  College of New Jersey, Series D (FSA), 5.00%, 7/01/35  9,540  9,802,827 
  New Jersey Educational Facilities Authority, Refunding RB,     
  Montclair State University, Series J (MBIA), 4.25%, 7/01/30  3,775  3,471,943 
  New Jersey Educational Facilities Authority, Refunding RB,     
  Ramapo College, Series I (AMBAC), 4.25%, 7/01/31  1,250  1,143,913 
  New Jersey Educational Facilities Authority, Refunding RB,     
  Ramapo College, Series I (AMBAC), 4.25%, 7/01/36  900  801,477 
  New Jersey Educational Facilities Authority, Refunding RB,     
  Stevens Institute Technology, Series A, 5.00%, 7/01/27  2,800  2,845,276 
  New Jersey Educational Facilities Authority, Refunding RB,     
  Stevens Institute Technology, Series A, 5.00%, 7/01/34  900  883,665 
University of Medicine & Dentistry of New Jersey, New Jersey,
  COP (MBIA), 5.00%, 6/15/29    2,000  1,906,120 
University of Medicine & Dentistry of New Jersey, New Jersey,
  RB, Series A (AMBAC), 5.50%, 12/01/27    4,740  4,757,064 
        50,991,070 
Health - 12.8%  New Jersey Health Care Facilities Financing Authority, RB,     
  Greystone Park Psychiatric Hospital (AMBAC),     
  5.00%, 9/15/23    10,775  10,861,631 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Atlantic City Medical, 5.75%, 7/01/12 (a)    1,525  1,694,793 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Atlantic City Medical, 6.25%, 7/01/12 (a)    530  595,916 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Atlantic City Medical, 6.25%, 7/01/17    925  974,025 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Atlantic City Medical, 5.75%, 7/01/25    1,975  2,020,840 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Meridian Health, Series II (AGC), 5.00%, 7/01/38  7,400  7,321,634 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Meridian Health System Obligation Group (FSA),     
  5.38%, 7/01/24    1,000  1,002,950 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Society of The Valley Hospital (AMBAC), 5.38%, 7/01/25  2,820  2,645,047 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Somerset Medical Center, 5.50%, 7/01/33    2,135  1,489,525 
  New Jersey Health Care Facilities Financing Authority, RB,     
  South Jersey Hospital, 6.00%, 7/01/12 (a)    5,440  6,134,634 
  New Jersey Health Care Facilities Financing Authority, RB,     
  Virtua Health (AGC), 5.50%, 7/01/38    1,000  1,032,470 

3

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)       Value 
  New Jersey Health Care Facilities Financing Authority,     
  Refunding RB, Series AHS Hospital Corp., Series A (AMBAC),     
  6.00%, 7/01/13 (c)    $ 4,000  $ 4,607,680 
        40,381,145 
Housing - 6.9%  New Jersey State Housing & Mortgage Finance Agency, RB,     
  Capital Fund Program, Series A (FSA), 4.70%, 11/01/25  10,840  10,897,344 
  New Jersey State Housing & Mortgage Finance Agency, RB,     
  Home Buyer, Series U, AMT (MBIA), 5.60%, 10/01/12  700  701,064 
  New Jersey State Housing & Mortgage Finance Agency, RB,     
  Home Buyer, Series U, AMT (MBIA), 5.65%, 10/01/13  2,075  2,078,112 
  New Jersey State Housing & Mortgage Finance Agency, RB,     
  Home Buyer, Series U, AMT (MBIA), 5.75%, 4/01/18  2,325  2,326,511 
  New Jersey State Housing & Mortgage Finance Agency, RB,     
  S/F Housing, Series T, AMT, 4.70%, 10/01/37  800  726,208 
  New Jersey State Housing & Mortgage Finance Agency, RB,     
  Series AA, 6.50%, 10/01/38    3,115  3,382,392 
  Newark Housing Authority, RB, South Ward Police Facility     
  (AGC), 5.75%, 12/01/30    850  899,283 
  Newark Housing Authority, RB, South Ward Police Facility     
  (AGC), 6.75%, 12/01/38    500  560,205 
        21,571,119 
State - 50.3%  Garden State Preservation Trust, RB, 2005 Series A (FSA),     
  5.80%, 11/01/21    1,960  2,267,328 
  Garden State Preservation Trust, RB, 2005 Series A (FSA),     
  5.80%, 11/01/23    2,730  3,157,436 
  Garden State Preservation Trust, RB, CAB, Series B (FSA),     
  5.12%, 11/01/23 (d)    9,000  4,836,240 
  Garden State Preservation Trust, RB, CAB, Series B (FSA),     
  5.20%, 11/01/25 (d)    10,000  4,819,200 
  Garden State Preservation Trust, Refunding RB, Series C     
  (FSA), 5.25%, 11/01/20    5,000  5,864,750 
  Garden State Preservation Trust, Refunding RB, Series C     
  (FSA), 5.25%, 11/01/21    7,705  9,035,422 
  New Jersey EDA, RB, Cigarette Tax, 5.63%, 6/15/19  2,700  2,684,961 
  New Jersey EDA, RB, Cigarette Tax (Radian),     
  5.75%, 6/15/29    2,000  1,931,460 
  New Jersey EDA, RB, Cigarette Tax (Radian),     
  5.50%, 6/15/31    585  542,441 
  New Jersey EDA, RB, Cigarette Tax (Radian),     
  5.75%, 6/15/34    1,180  1,121,861 
  New Jersey EDA, RB, Liberty State Park Project, Series C     
  (FSA), 5.00%, 3/01/22    2,670  2,844,698 
  New Jersey EDA, RB, Motor Vehicle Surcharge, Series A     
  (MBIA), 5.25%, 7/01/26    7,500  7,990,500 
  New Jersey EDA, RB, Motor Vehicle Surcharge, Series A     
  (MBIA), 5.25%, 7/01/33    11,105  11,204,723 

4

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
    Par   
                                                                               Municipal Bonds    (000)       Value 
                                                                             New Jersey EDA, RB, Motor Vehicle Surcharge, Series A     
                                                                             (MBIA), 5.00%, 7/01/34    $ 2,000  $ 2,008,960 
                                                                             New Jersey EDA, RB, School Facilities Construction, Series L     
                                                                             (FSA), 5.00%, 3/01/30    9,000  9,271,080 
                 New Jersey EDA, RB, School Facilities Construction, Series O,
                                                                             5.25%, 3/01/23    4,420  4,645,995 
               New Jersey EDA, RB, School Facilities Construction, Series Z
                                                                             (AGC), 6.00%, 12/15/34    2,800  3,127,964 
                                                                             New Jersey EDA, RB, School Facilities, Series U (AMBAC),     
                                                                             5.00%, 9/01/37    2,500  2,532,175 
                  New Jersey EDA, RB, State Office Buildings Projects (AMBAC),
                                                                             6.00%, 6/15/10 (a)    3,000  3,105,030 
                  New Jersey EDA, RB, State Office Buildings Projects (AMBAC),
                                                                             6.25%, 6/15/10 (a)    4,620  4,788,907 
                  New Jersey EDA, Refunding RB, School Facilities Construction,
                                                                             Series N-1 (MBIA), 5.50%, 9/01/27    1,000  1,108,650 
                                                                             New Jersey Educational Facilities Authority, RB, Capital     
                                                                             Improvement Fund, Series A (FSA), 5.75%, 9/01/10 (a)  9,420  9,845,690 
                                                                             New Jersey Educational Facilities Authority, RB, Higher     
                                                                             Education Capital Improvement, Series A (AMBAC),     
                                                                             5.13%, 9/01/12 (a)    5,500  6,120,180 
                                                                             New Jersey Sports & Exposition Authority, RB, Series A     
                                                                             (MBIA), 6.00%, 3/01/13    2,400  2,441,784 
                                                                             New Jersey Sports & Exposition Authority, Refunding RB     
                                                                             (MBIA), 5.50%, 3/01/21    5,890  6,540,374 
                                                                             New Jersey Sports & Exposition Authority, Refunding RB     
                                                                             (MBIA), 5.50%, 3/01/22    3,000  3,320,430 
                                                                             New Jersey Transportation Trust Fund Authority, New     
                                                                             Jersey, RB, CAB, Transportation System, Series C (AMBAC),     
                                                                             5.05%, 12/15/35 (d)    1,400  273,168 
                                                                             New Jersey Transportation Trust Fund Authority, New     
                                                                             Jersey, RB, CAB, Transportation System, Series C (AMBAC),     
                                                                             5.05%, 12/15/36 (d)    5,500  1,005,400 
                                                                             New Jersey Transportation Trust Fund Authority, New     
                                                                             Jersey, RB, CAB, Transportation System, Series C (FSA),     
                                                                             4.72%, 12/15/32 (d)    4,050  1,058,670 
                                                                             New Jersey Transportation Trust Fund Authority, New     
                                                                             Jersey, RB, Transportation System, Series A,     
                                                                             6.00%, 6/15/10 (a)    5,000  5,177,300 
                                                                             New Jersey Transportation Trust Fund Authority, New     
                                                                             Jersey, RB, Transportation System, Series A (AGC),     
                                                                             5.63%, 12/15/28    2,000  2,239,840 
                                                                             New Jersey Transportation Trust Fund Authority, New     
                                                                             Jersey, RB, Transportation System, Series A (FSA),     
                                                                             5.25%, 12/15/20    10,750  11,909,925 

5

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
New Jersey Transportation Trust Fund Authority, New Jersey,
  RB, Transportation System, Series B (MBIA),       
  5.50%, 12/15/21    $ 9,165  $ 10,336,837 
New Jersey Transportation Trust Fund Authority, New Jersey,
  RB, Transportation System, Series D (FSA),       
  5.00%, 6/15/19    7,800  8,224,866 
  State of New Jersey, COP, Equipment Lease Purchase,     
  Series A, 5.25%, 6/15/27    1,080  1,121,267 
        158,505,512 
Tobacco - 1.8%  Tobacco Settlement Financing Corp., New Jersey, RB, 7.00%,     
  6/01/13 (a)    4,755  5,639,002 
Transportation - 22.4%  Delaware River Port Authority Pennsylvania & New Jersey, RB     
  (FSA), 5.50%, 1/01/12    5,000  5,036,250 
Delaware River Port Authority Pennsylvania & New Jersey, RB
  (FSA), 5.63%, 1/01/13    6,000  6,045,300 
Delaware River Port Authority Pennsylvania & New Jersey, RB
  (FSA), 5.75%, 1/01/15    500  503,895 
Delaware River Port Authority Pennsylvania & New Jersey, RB
  (FSA), 6.00%, 1/01/18    4,865  4,906,498 
Delaware River Port Authority Pennsylvania & New Jersey, RB
  (FSA), 6.00%, 1/01/19    5,525  5,545,221 
  Delaware River Port Authority, RB, Port District Project,     
  Series B (FSA), 5.63%, 1/01/26    2,425  2,428,783 
  New Jersey State Turnpike Authority, RB, C-2005 (MBIA),     
  6.50%, 1/01/16    910  1,075,747 
  New Jersey State Turnpike Authority, RB, C-2005 (MBIA),     
  6.50%, 1/01/16 (c)    255  313,461 
  New Jersey State Turnpike Authority, RB, Growth & Income     
  Securities, Series B (AMBAC), 6.20%, 1/01/35 (d)  7,615  5,879,161 
  New Jersey State Turnpike Authority, RB, Series C (MBIA),     
  6.50%, 1/01/16 (c)    4,355  5,060,510 
New Jersey State Turnpike Authority, Refunding RB, Series A
  (FSA), 5.25%, 1/01/29    2,500  2,828,490 
  New Jersey State Turnpike Authority, Series A, 5.25%,     
  1/01/30    4,000  4,462,680 
  New Jersey Transportation Trust Fund Authority, New     
  Jersey, RB, Transportation System, Series A (AMBAC),     
  5.00%, 12/15/32    1,425  1,441,045 
New Jersey Transportation Trust Fund Authority, New Jersey,
  RB, Transportation System, Series C, 5.50%,       
  6/15/13 (a)    780  891,298 
Port Authority of New York & New Jersey, RB, Consolidated,
  152nd Series, Second, AMT, 5.75%, 11/01/30  5,175  5,500,094 
  Port Authority of New York & New Jersey, RB, Special     
  Project, JFK International Air Terminal, Series 6, AMT     
  (MBIA), 6.25%, 12/01/11    13,500  14,038,380 

6

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)       Value 
  Port Authority of New York & New Jersey, RB, Special     
  Project, JFK International Air Terminal, Series 6, AMT     
  (MBIA), 6.25%, 12/01/15    $ 1,500  $ 1,570,050 
  Port Authority of New York & New Jersey, RB, Special     
  Project, JFK International Air Terminal, Series 6, AMT     
  (MBIA), 5.75%, 12/01/25    3,000  3,003,390 
        70,530,253 
Utilities - 4.3%  Atlantic Highlands Highland Regional Sewage Authority,     
  Refunding RB (MBIA), 5.50%, 1/01/20    1,875  1,956,900 
Essex County Utilities Authority, Refunding RB (AGC), 4.13%,
  4/01/22    2,000  2,004,600 
New Jersey EDA, RB, Series A, New Jersey, American Water,
  AMT (AMBAC), 5.25%, 11/01/32    3,000  2,835,510 
  North Hudson Sewerage Authority, Refunding RB, Series A     
  (MBIA), 5.13%, 8/01/20    4,335  4,382,555 
Rahway Valley Sewerage Authority, RB, CAB, Series A (MBIA),
  4.79%, 9/01/28 (d)    6,600  2,316,270 
        13,495,835 
  Total Municipal Bonds in New Jersey      442,487,797 
Puerto Rico - 9.1%         
Health - 1.1%  Puerto Rico Industrial Tourist Educational Medical &     
  Environmental Control Facilities Financing Authority, RB,     
  Hospital Auxilio Mutuo Obligation Group, Series A (MBIA),     
  6.25%, 7/01/24    1,780  1,781,157 
  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  1,806,770 
        3,587,927 
Housing - 2.0%  Puerto Rico HFA, RB, Subordinated, Capital       
  Fund Modernization, 5.13%, 12/01/27    6,285  6,273,687 
State - 0.9%  Puerto Rico Infrastructure Financing Authority, RB, CAB,     
  Series A (AMBAC), 4.36%, 7/01/37 (d)    4,000  539,680 
  Puerto Rico Public Buildings Authority, Refunding RB,     
  Government Facilities, Series M-3 (MBIA), 6.00%, 7/01/27  2,125  2,189,919 
        2,729,599 
Transportation - 1.8%  Puerto Rico Highway & Transportation Authority, Refunding     
  RB, Series CC (AGC), 5.50%, 7/01/31    5,000  5,482,200 
Utilities - 3.3%  Puerto Rico Aqueduct & Sewer Authority, RB, Senior Lien,     
  Series A (AGC), 5.13%, 7/01/47    6,870  6,479,372 
  Puerto Rico Electric Power Authority, RB, Series RR (CIFG),     
  5.00%, 7/01/28    4,100  4,036,163 
        10,515,535 
  Total Municipal Bonds in Puerto Rico      28,588,948 
  Total Municipal Bonds - 149.6%      471,076,745 

7

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)     
Schedule of Investments October 31, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
  Municipal Bonds Transferred to         Par   
  Tender Option Bond Trusts (e)    (000)         Value 
New Jersey - 5.3%         
Housing - 1.6%  New Jersey State Housing & Mortgage Finance Agency, RB,     
  Capital Fund Program, Series A (FSA), 5.00%, 5/01/27  $ 4,790  $ 5,105,134 
State - 3.7%  Garden State Preservation Trust, RB, 2005 Series A (FSA),     
  5.75%, 11/01/28    9,160  11,461,908 
        16,567,042 
New York - 1.9%         
Transportation - 1.9%  Port Authority of New York & New Jersey, Refunding RB,     
  Consolidated 152nd Series, AMT, 5.25%, 11/01/35  5,998  6,113,250 
  Total Municipal Bonds Transferred to       
  Tender Option Bond Trusts - 7.2%      22,680,292 
  Total Long-Term Investments       
  (Cost - $481,040,918) - 156.8%      493,757,037 
  Short-Term Securities    Shares   
  CMA New Jersey Municipal Money Fund, 0.04% (f)(g)  512,124  512,124 
  Total Short-Term Securities (Cost - $512,124) - 0.1%    512,124 
  Total Investments (Cost - $481,553,042*) - 156.9%    494,269,161 
  Other Assets Less Liabilities - 2.1%      6,650,952 
Liability for Trust Certificates, Including Interest Expense
  and Fees Payable - (4.2)%      (13,286,018) 
  Preferred Shares, at Redemption Value - (54.8)%    (172,712,158) 
  Net Assets Applicable to Common Shares - 100.0%  $ 314,921,937 

* The cost and unrealized appreciation (depreciation) of investments as of October 31, 2009, as computed for
federal income tax purposes, were as follows:

Aggregate cost  $ 468,999,869 
Gross unrealized appreciation  $ 20,112,685 
Gross unrealized depreciation  (8,106,323) 
Net unrealized appreciation  $ 12,006,362 

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

(c) Security is collateralized by Municipal or US Treasury Obligations.
(d) Represents a zero-coupon bond. Rate shown is as of report date.
(e) Securities represent bonds transferred to a tender option bond trust in exchange for which the Fund acquired residual
interest certificates. These securities serve as collateral in a financing transaction.

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

Affiliate  Net Activity  Income 
CMA New Jersey Municipal Money Fund  $ (2,799,819)  $ 157 

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

8

BlackRock MuniHoldings New Jersey Insured Fund, Inc. (MUJ)
Schedule of Investments October 31, 2009 (Unaudited)

• Fair Value Measurements – Various inputs are used in determining the fair value of
investments, which are as follows:
• Level 1 - price quotations in active markets/exchanges for identical assets and liabilities
• Level 2 - other observable inputs (including, but not limited to: quoted prices for similar assets or liabilities in
markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active,
inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield
curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-
corroborated inputs)

• Level 3 - unobservable inputs based on the best information available in the circumstances, to the extent
observable inputs are not available (including the Fund's own assumptions used in determining the fair value
of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk 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 inputs used as of October 31, 2009 in determining the fair valuation of the Fund's
investments:

  Investments in 
Valuation Inputs  Securities 
  Assets 
Level 1 - Short-Term Securities  $ 512,124 
Level 2 - Long-Term Investments1  493,757,037 
Level 3  - 
Total  $ 494,269,161 
1 See above Schedule of Investments for values in each sector.   

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 13(a)-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 Insured Fund, Inc.

By: /s/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer of
BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Date: December 18, 2009

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/ Anne F. Ackerley
Anne F. Ackerley
Chief Executive Officer (principal executive officer) of
BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Date: December 18, 2009

By: /s/ Neal J. Andrews
Neal J. Andrews
Chief Financial Officer (principal financial officer) of
BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Date: December 18, 2009