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: 07/31/2016

Date of reporting period: 04/30/2016


Item 1 – Schedule of Investments


Schedule of Investments April 30, 2016 (Unaudited)

  

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

(Percentages shown are based on Net Assets)

 

Municipal Bonds   

Par  

(000)

    Value  

New Jersey — 136.7%

                

Corporate — 2.7%

    

New Jersey EDA, Refunding RB:

    

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

   $ 7,500      $ 8,502,000   

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

     3,150        3,564,446   

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

     1,000        1,062,440   
    

 

 

 
               13,128,886   

County/City/Special District/School District — 21.4%

  

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

    

4.25%, 3/01/34

     1,535        1,654,300   

4.25%, 3/01/35

     1,600        1,721,904   

4.30%, 3/01/36

     1,670        1,797,488   

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

     3,440        3,469,343   

Casino Reinvestment Development Authority, Refunding RB:

    

5.25%, 11/01/39

     11,130        11,531,459   

5.25%, 11/01/44

     3,755        3,869,227   

City of Bayonne New Jersey, GO, Refunding, Qualified General Improvement (BAM), 5.00%, 7/01/39

     3,340        3,908,969   

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

    

5.00%, 7/01/17 (a)

     4,540        4,770,223   

5.00%, 7/01/32

     2,210        2,281,670   

5.00%, 7/01/33

     670        691,809   

5.00%, 7/01/35

     595        613,314   

5.00%, 7/01/37

     705        725,297   

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

    

AMT, 4.75%, 11/01/32

     1,000        1,029,750   

Project Consolidation, 5.50%, 10/01/27

     250        332,995   

Project Consolidation, 5.50%, 10/01/28

     4,840        6,502,008   

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

     1,000        1,028,950   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

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

  

County of Hudson New Jersey Improvement Authority, RB:

    

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

   $ 1,000      $ 600,570   

County Secured, County Services Building Project (AGM), 5.00%, 4/01/17 (a)

     1,000        1,040,020   

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

     3,000        3,305,160   

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

     5,000        5,486,200   

Hudson County Vocational-Technical Schools Project, 5.25%, 5/01/51 (c)

     3,105        3,699,421   

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

     500        501,880   

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

    

5.00%, 12/01/17

     5        5,015   

5.35%, 12/01/17

     5        5,020   

5.00%, 12/01/18

     5        5,015   

5.38%, 12/01/18

     5        5,020   

5.00%, 12/01/19

     5        5,014   

County of Union New Jersey, GO, Refunding:

    

4.00%, 3/01/21 (a)

     225        255,668   

4.00%, 3/01/29

     3,575        3,868,222   

4.00%, 3/01/30

     3,580        3,865,648   

4.00%, 3/01/31

     4,045        4,356,182   

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

    

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

     650        725,075   

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

     7,570        8,506,333   

Morristown New Jersey Parking Authority, RB (NPFGC):

    

5.00%, 8/01/30

     1,830        1,919,560   

5.00%, 8/01/33

     3,000        3,145,020   
 

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016    1


Schedule of Investments (continued)

  

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

 

Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

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

  

 

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

    

5.50%, 3/01/21

   $ 7,430      $ 8,974,326   

5.50%, 3/01/22

     4,200        5,237,022   

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

     1,720        1,732,298   

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

     1,175        1,369,968   
    

 

 

 
               104,542,363   

Education — 33.2%

    

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

    

5.00%, 7/01/44

     1,985        2,236,698   

Series A, 5.00%, 7/01/31

     1,950        2,300,025   

Series A, 5.00%, 7/01/32

     1,775        2,084,187   

Series A, 5.00%, 7/01/33

     2,250        2,630,025   

Series A, 5.00%, 7/01/34

     1,200        1,396,380   

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

     3,065        3,634,875   

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

    

5.00%, 1/01/35

     2,000        2,205,320   

5.00%, 1/01/48

     2,000        2,165,040   

New Jersey Educational Facilities Authority, RB:

    

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

     6,370        6,859,726   

Montclair State University, Series A (AMBAC), 5.00%, 7/01/16 (a)

     2,880        2,902,147   

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

     2,625        2,643,165   

New Jersey Educational Facilities Authority, Refunding RB:

    

College of New Jersey, Series D (AGM), 5.00%, 7/01/18 (a)

     3,285        3,582,227   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

Education (continued)

  

 

New Jersey Educational Facilities Authority, Refunding RB

    

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

   $ 10,260      $ 11,093,317   

Montclair State University Issue, Series B, 5.00%, 7/01/34 (c)

     1,075        1,294,408   

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

     15,555        17,964,936   

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

     3,540        4,063,424   

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

     6,540        6,582,379   

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

     4,000        4,513,040   

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

     2,500        2,546,675   

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

     2,575        2,787,618   

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

     500        572,760   

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

     600        681,456   

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

     2,800        2,900,268   

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

     2,400        2,495,616   

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

     250        270,110   

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

     5,115        5,484,815   

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

    

4.00%, 12/01/28

     1,500        1,582,290   

4.50%, 12/01/28

     4,080        4,434,838   

4.00%, 12/01/29

     6,715        7,041,351   

4.50%, 12/01/29

     5,110        5,559,731   

4.63%, 12/01/30

     4,980        5,418,987   

4.00%, 12/01/31

     1,625        1,693,786   

4.25%, 12/01/32

     2,050        2,153,033   

4.13%, 12/01/35

     1,000        1,036,170   
 

 

                
2    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016   


Schedule of Investments (continued)

  

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

 

Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

  

Education (continued)

    

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

    

4.50%, 12/01/36

   $ 1,805      $ 1,910,755   

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

    

5.38%, 12/01/24

     1,365        1,553,957   

5.50%, 12/01/26

     1,635        1,847,730   

New Jersey Institute of Technology, RB, Series A:

    

5.00%, 7/01/42

     6,945        8,009,391   

5.00%, 7/01/45

     7,500        8,533,500   

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

    

5.00%, 5/01/30

     1,565        1,868,234   

5.00%, 5/01/43

     10,000        11,548,800   
    

 

 

 
               162,083,190   

Health — 16.3%

  

County of Camden New Jersey Improvement Authority, Refunding RB, Cooper Healthcare System, Series A, 5.00%, 2/15/33

     2,000        2,277,580   

New Jersey Health Care Facilities Financing Authority, RB:

    

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

     1,405        1,501,875   

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

     6,950        7,460,060   

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

     4,685        5,028,832   

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

     7,105        8,383,900   

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

     4,035        4,531,749   

New Jersey Health Care Facilities Financing Authority, Refunding RB:

    

AHS Hospital Corp., 5.50%, 7/01/31

     4,055        4,807,040   

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

     4,180        5,024,903   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

  

Health (continued)

    

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

    

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

   $ 1,925      $ 2,190,592   

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

     1,500        1,594,830   

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

     7,795        8,378,144   

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

     1,000        1,188,710   

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

     3,720        4,390,976   

Princeton Healthcare System, 5.00%, 7/01/34

     1,330        1,578,338   

Princeton Healthcare System, 5.00%, 7/01/39

     1,825        2,137,641   

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

     3,640        4,197,175   

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

     4,450        5,241,166   

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

     4,860        5,648,729   

Virtua Health, 5.00%, 7/01/28

     3,000        3,544,650   

Virtua Health, 5.00%, 7/01/29

     715        840,154   
    

 

 

 
               79,947,044   

Housing — 6.7%

    

New Jersey Housing & Mortgage Finance Agency, RB:

    

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

     6,770        7,100,850   

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

     4,710        4,946,065   

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

     1,335        1,339,552   

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

     310        320,583   

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

     9,455        10,214,993   
 

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016    3


Schedule of Investments (continued)

  

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

 

Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

Housing (continued)

    

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

    

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

   $ 3,470      $ 3,684,134   

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

     4,220        4,456,616   

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

     655        661,995   
    

 

 

 
               32,724,788   

State — 25.3%

  

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

    

0.00%, 11/01/23

     15,725        13,364,835   

0.00%, 11/01/25

     10,000        7,968,400   

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

    

5.25%, 11/01/20

     5,000        5,814,600   

5.25%, 11/01/21

     7,705        9,138,130   

New Jersey EDA, RB:

    

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

     2,325        2,070,389   

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

     1,785        2,091,056   

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

     5,000        5,896,150   

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

     7,500        8,872,275   

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

     18,105        18,291,844   

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

     3,960        4,494,758   

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

     40        45,054   

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

     325        340,795   

School Facilities Construction, Series U, 5.00%, 9/01/17 (a)

     2,810        2,971,856   

School Facilities Construction, Series U (AMBAC), 5.00%, 9/01/17 (a)

     1,070        1,131,632   

School Facilities Construction, Series Y, 5.00%, 9/01/18 (a)

     1,000        1,097,770   
Municipal Bonds   

Par  

(000)

    Value  

New Jersey (continued)

                

State (continued)

    

New Jersey EDA, RB (continued):

    

Series WW, 5.25%, 6/15/33

   $ 380      $ 419,064   

Series WW, 5.00%, 6/15/34

     5,500        5,895,120   

Series WW, 5.00%, 6/15/36

     3,115        3,316,759   

Series WW, 5.25%, 6/15/40

     8,375        9,161,831   

New Jersey EDA, Refunding RB:

    

Cigarette Tax, 5.00%, 6/15/24

     5,000        5,530,850   

Cigarette Tax, 5.00%, 6/15/26

     1,250        1,356,800   

Cigarette Tax, 5.00%, 6/15/28

     2,430        2,618,762   

Cigarette Tax, 5.00%, 6/15/29

     3,195        3,430,120   

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

     1,000        1,207,340   

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

     5,000        5,387,300   

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

     1,580        1,729,863   
    

 

 

 
               123,643,353   

Transportation — 26.0%

    

Delaware River Port Authority, RB:

    

5.00%, 1/01/29

     2,000        2,404,240   

5.00%, 1/01/37

     8,830        10,348,672   

Series D, 5.05%, 1/01/35

     1,430        1,612,325   

Series D (AGM), 5.00%, 1/01/40

     5,200        5,857,748   

New Brunswick Parking Authority, Refunding RB, Series A (BAM), 5.00%, 9/01/39 (c)

     1,520        1,803,495   

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

    

5.13%, 1/01/34

     2,290        2,589,349   

5.38%, 1/01/43

     7,730        8,702,975   

New Jersey State Turnpike Authority, RB:

    

Growth & Income Securities, Series B (AMBAC), 5.15%, 1/01/17 (a)

     8,620        8,884,462   

Series E, 5.00%, 1/01/45

     8,000        9,239,920   

New Jersey State Turnpike Authority, Refunding RB:

    

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

     4,000        5,280,280   
 

 

                
4    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016   


Schedule of Investments (continued)

  

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

 

Municipal Bonds    Par  
(000)
    Value  

New Jersey (continued)

                

Transportation (continued)

  

 

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

   

 

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

   $   4,000      $   5,321,920   

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

     500        663,270   

New Jersey Transportation Trust Fund Authority, RB:

    

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

     6,000        2,306,760   

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

     7,210        2,955,740   

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

     8,800        4,481,312   

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

     4,160        1,801,363   

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

     3,000        3,188,280   

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

     5,690        6,219,227   

Transportation Program, Series AA, 5.25%, 6/15/34

     1,305        1,435,996   

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

     2,340        2,489,198   

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

     6,365        7,288,816   

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

     2,780        3,121,245   

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

     1,205        1,454,507   

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

     2,500        2,691,475   

Transportation System, Series D, 5.00%, 6/15/32

     3,300        3,581,259   

Port Authority of New York & New Jersey, ARB:

    

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

     1,000        1,272,370   

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

     3,000        3,077,820   

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

     4,000        4,694,680   
Municipal Bonds    Par  
(000)
    Value  

New Jersey (continued)

                

Transportation (continued)

    

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

    

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

   $   4,005      $ 4,645,079   

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

     7,175        7,833,019   
    

 

 

 
               127,246,802   

Utilities — 5.1%

    

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

     2,000        2,154,920   

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

     6,045        7,083,531   

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

    

0.00%, 9/01/26

     4,100        3,108,169   

0.00%, 9/01/28

     6,600        4,619,010   

0.00%, 9/01/29

     9,650        6,478,238   

0.00%, 9/01/33

     2,350        1,378,557   
    

 

 

 
        24,822,425   
Total Municipal Bonds in New Jersey        668,138,851   
    

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        1,784,405   

6.13%, 11/15/30

     4,220        4,458,599   
Total Municipal Bonds in Puerto Rico              6,243,004   
Total Municipal Bonds 138.0%              674,381,855   
 

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016    5


Schedule of Investments (continued)

  

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

 

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

  

Par  

(000)

    Value  

New Jersey — 20.2%

                

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      $   19,298,150   

Education — 1.1%

  

 

Rutgers — The State University of New Jersey, RB, Series F, 5.00%, 5/01/19 (a)

     4,998        5,608,084   

State — 4.7%

  

 

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

     12,460        15,981,445   

New Jersey EDA, Refunding RB, Series NN, School Facilities Construction, 5.00%, 3/01/29 (f)

     6,698        7,217,005   
    

 

 

 
               23,198,450   

Transportation — 10.4%

    

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

     9,300        10,765,866   

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

     2,661        2,864,390   

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

     15,545        17,688,327   

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

     10,000        11,069,400   

Municipal Bonds Transferred to

Tender Option Bond Trusts (e)

  

Par  

(000)

    Value  

New Jersey (continued)

                

Transportation (continued)

    

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

   $   7,827      $   8,424,493   
    

 

 

 
               50,812,476   

Total Municipal Bonds Transferred to

Tender Option Bond Trusts 20.2%

  

  

    98,917,160   

Total Long-Term Investments

(Cost — $704,876,854) — 158.2%

  

  

    773,299,015   
    
                  
Short-Term Securities    Shares         

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

     2,791,279        2,791,279   

Total Short-Term Securities

(Cost — $2,791,279) — 0.6%

  

  

    2,791,279   
Total Investments (Cost — $707,668,133*) — 158.8%        776,090,294   
Other Assets Less Liabilities 0.5%        2,565,129   

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable
(10.8)%

   

    (52,787,515
VRDP Shares, at Liquidation Value (48.5)%        (237,100,000
    

 

 

 
Net Assets Applicable to Common Shares 100.0%      $ 488,767,908   
    

 

 

 

 

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

 

Tax cost

  $ 655,734,390   
 

 

 

 

Gross unrealized appreciation

  $ 69,228,406   

Gross unrealized depreciation

    (1,621,208
 

 

 

 

Net unrealized appreciation

  $ 67,607,198   
 

 

 

 
 
Notes to Schedule of Investments

 

(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)   When-issued security.

 

(d)   Security is collateralized by municipal bonds or U.S. Treasury obligations.

 

(e)   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.

 

(f)   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.

 

                
6    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016   


Schedule of Investments (continued)

  

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

 

(g)   During the period ended April 30, 2016, 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,
2015
      

Net

Activity

       Shares Held
at April 30,
2016
       Income  

BIF New Jersey Municipal Money Fund

       11,186,598           (8,395,319        2,791,279         $ 608   

 

(h)   Current yield as of period end.

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.

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

Contracts
Short
    Issue   Expiration   Notional
Value
   

Unrealized

Appreciation

 
  (14   5-Year U.S. Treasury Note   June 2016   $ 1,692,797      $ 4,876   
  (168   10-Year U.S. Treasury Note   June 2016   $ 21,850,500        96,562   
  (46   Long U.S. Treasury Bond   June 2016   $ 7,512,375        101,929   
  (4   Ultra U.S. Treasury Bond   June 2016   $ 685,375        10,400   
  Total            $   213,767   
       

 

 

 

 

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

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016    7


Schedule of Investments (continued)

  

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 price quotations 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. The significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments are typically categorized as level 3.

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, refer to the Fund’s most recent financial statements as contained in its semi-annual report.

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

            $ 773,299,015              $ 773,299,015   

Short-Term Securities

  $ 2,791,279                     2,791,279   
 

 

 

 

Total Investments

  $ 2,791,279         $ 773,299,015              $ 776,090,294   
 

 

 

 
                
     Level 1        Level 2        Level 3      Total  
Derivative Financial Instruments2                 

Assets:

                

Interest rate contracts

  $ 213,767                        $ 213,767   

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

 

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

      

       

 

                
8    BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016   


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 period end, such assets and/or liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1        Level 2        Level 3      Total  

Assets:

                

Cash pledged for futures contracts

  $ 407,000                        $ 407,000   

Liabilities:

                

Bank overdraft

            $ (257,311             (257,311

TOB Trust Certificates

              (52,748,706             (52,748,706

VRDP Shares

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

 

 

 

Total

  $ 407,000         $ (290,106,017           $ (289,699,017
 

 

 

 

During the period ended April 30, 2016, there were no transfers between levels.

 

                
   BLACKROCK MUNIHOLDINGS NEW JERSEY QUALITY FUND, INC.    APRIL 30, 2016    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, 2016

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, 2016
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, 2016