mujfinal.htm - Generated by SEC Publisher for SEC Filing

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: Donald C. Burke, Chief Executive Officer, BlackRock
MuniHoldings New Jersey Insured Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ,
08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2009

Date of reporting period: 04/30/2009

Item 1 – Schedule of Investments

BlackRock MuniHoldings New Jersey Insured Fund, Inc.       
Schedule of Investments April 30, 2009 (Unaudited)    (Percentages shown are based on Net Assets) 
            Par   
    Municipal Bonds        (000)  Value 
New Jersey - 144.8%             
Corporate - 0.8%  New Jersey EDA, Solid Waste Disposal Facilities Revenue Bonds       
    (Waste Management Inc.), AMT, Series A, 5.30%, 6/01/15  $  2,500  $ 2,367,525 
County/City/Special  Camden County, New Jersey, Improvement Authority, Lease       
District/School  Revenue Bonds, 5.50%, 9/01/10 (a)(b)      1,540  1,639,961 
District - 27.4%  East Orange, New Jersey, Board of Education, COP, 5.50%,       
    8/01/12 (b)        7,895  8,404,543 
    Essex County, New Jersey, Improvement Authority, Lease Revenue       
    Bonds (Correctional Facility Project), 6%,         
    10/01/10 (a)(c)        4,000  4,295,320 
    Essex County, New Jersey, Improvement Authority Revenue Bonds,       
    Series A, 5%, 10/01/13 (a)(c)        4,400  5,039,848 
    Hopatcong, New Jersey, GO, Sewer Refunding Bonds, 4.50%,       
    8/01/33 (d)        2,690  2,595,097 
    Hudson County, New Jersey, Improvement Authority, Parking       
Revenue Bonds (Harrison Parking Facility Project), Series C, 5.375%,
    1/01/44 (e)        3,600  3,700,584 
    Lafayette Yard, New Jersey, Community Development Revenue       
    Bonds (Hotel/Conference Center Project-Trenton), 6%,       
    4/01/10 (a)(f)        5,250  5,544,630 
    Middlesex County, New Jersey, COP, 5.25%, 6/15/23 (f)    1,550  1,552,247 
    Middlesex County, New Jersey, COP, Refunding, 5.50%,       
    8/01/16 (f)        1,375  1,479,335 
    Middlesex County, New Jersey, Improvement Authority Revenue       
    Bonds (Senior Citizens Housing Project), AMT, 5.50%, 9/01/30 (d)    500  463,860 
    Monmouth County, New Jersey, Improvement Authority,       
    Governmental Loan Revenue Refunding Bonds, 5.35%,    695  745,916 
    12/01/10 (a)(d)           
    Monmouth County, New Jersey, Improvement Authority,       
    Governmental Loan Revenue Refunding Bonds, 5.375%,       
    12/01/10 (a)(d)        535  574,408 
    Monmouth County, New Jersey, Improvement Authority,       
    Governmental Loan Revenue Refunding Bonds, 5.35%,       
    12/01/17 (d)        845  882,636 
    Monmouth County, New Jersey, Improvement Authority,       
    Governmental Loan Revenue Refunding Bonds, 5.375%,       
    12/01/18 (d)        935  977,000 
    Morristown, New Jersey, Parking Authority Revenue Bonds, 5%,       
    8/01/30 (f)        1,830  1,862,062 
    Morristown, New Jersey, Parking Authority Revenue Bonds, 5%,       
    8/01/33 (f)        3,000  3,036,180 
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 list below.         
AMT  Alternative Minimum Tax (subject to)  EDA  Economic Development Authority   
CABS  Capital Appreciation Bonds  GO  General Obligation Bonds     
COP  Certificates of Participation  S/F  Single-Family       

1

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
Newark, New Jersey, Housing Authority, Port Authority-Port Newark
  Marine Terminal, Additional Rent-Backed Revenue Refunding Bonds     
  (City of Newark Redevelopment Projects), 4.375%, 1/01/37 (f)  $ 620 $  536,877 
  North Bergen Township, New Jersey, Board of Education, COP, 6%,     
  12/15/10 (a)(b)    1,000  1,095,230 
  North Bergen Township, New Jersey, Board of Education, COP,     
  6.25%, 12/15/10 (a)(b)    3,260  3,583,588 
  Paterson, New Jersey, Public School District, COP, 6.125%,     
  11/01/09 (a)(f)    1,980  2,056,131 
  Paterson, New Jersey, Public School District, COP, 6.25%,     
  11/01/09 (a)(f)    2,000  2,078,140 
  Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 5%,     
  7/01/32 (b)(g)    4,605  3,811,006 
  Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 5%,     
  7/01/33 (b)(g)    1,395  1,148,141 
  Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 5%,     
  7/01/37 (b)(g)    1,470  1,196,021 
  Salem County, New Jersey, Improvement Authority Revenue Bonds     
  (Finlaw State Office Building Project), 5.375%, 8/15/28 (b)  500  522,570 
  South Jersey Port Corporation of New Jersey, Revenue Refunding     
  Bonds, 4.50%, 1/01/15    3,750  3,947,925 
  South Jersey Port Corporation of New Jersey, Revenue Refunding     
  Bonds, 4.50%, 1/01/16    1,920  2,008,397 
  Trenton, New Jersey, Parking Authority, Parking Revenue Bonds,     
  6.10%, 4/01/10 (a)(c)    8,650  9,091,323 
  West Deptford Township, New Jersey, GO, 5.625%, 9/01/10 (a)(c)  8,580  9,151,171 
        83,020,147 
Education - 19.0%  New Jersey EDA, Lease Revenue Bonds (University of Medicine and     
  Dentistry-International Center for Public Health Project), 6%,     
  6/01/32 (d)    5,000  4,504,900 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Montclair State University), Series A, 5%, 7/01/21 (d)  1,200  1,278,708 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Montclair State University), Series A, 5%, 7/01/22 (d)  2,880  3,045,859 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Rowan University), Series C, 5%, 7/01/14 (a)(f)    3,260  3,734,493 
  New Jersey State Educational Facilities Authority Revenue Bonds     
  (Rowan University), Series C, 5.125%, 7/01/14 (a)(f)  3,615  4,163,251 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (College of New Jersey), Series D, 5%,     
  7/01/35 (b)    9,540  9,757,703 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Montclair State University), Series J, 4.25%,     
  7/01/30 (f)    3,775  3,317,734 

2

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Montclair State University), Series L, 5%,     
  7/01/14 (a)(f)    $ 7,510  $ 8,603,080 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Ramapo College), Series I, 4.25%,     
  7/01/31 (d)    1,250  1,093,538 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Ramapo College), Series I, 4.25%,     
  7/01/36 (d)    900  764,802 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Rowan University), Series C, 5.25%,     
  7/01/11 (a)(c)    790  868,874 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Rowan University), Series C, 5.25%,     
  7/01/17 (c)(f)    2,135  2,286,841 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Rowan University), Series C, 5.25%,     
  7/01/18 (c)(f)    2,535  2,709,712 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Rowan University), Series C, 5.25%,     
  7/01/19 (c)(f)    2,370  2,474,256 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Stevens Institute of Technology), Series A, 5%,     
  7/01/27    2,800  2,390,276 
  New Jersey State Educational Facilities Authority, Revenue     
  Refunding Bonds (Stevens Institute of Technology), Series A, 5%,     
  7/01/34    900  706,842 
  University of Medicine and Dentistry of New Jersey, COP, 5%,     
  6/15/29 (f)    2,000  1,761,580 
University of Medicine and Dentistry of New Jersey, Revenue Bonds,
  Series A, 5.50%, 12/01/27 (d)    4,740  4,094,981 
        57,557,430 
Health - 10.7%  New Jersey Health Care Facilities Financing Authority, Department     
  of Human Services Revenue Bonds (Greystone Park Psychiatric     
  Hospital Project), 5%, 9/15/23 (d)    10,775  10,780,172 
  New Jersey Health Care Facilities Financing Authority Revenue     
  Bonds (Society of the Valley Hospital), 5.375%, 7/01/25 (d)  2,820  2,439,131 
  New Jersey Health Care Facilities Financing Authority Revenue     
  Bonds (Somerset Medical Center), 5.50%, 7/01/33  2,135  1,107,488 
  New Jersey Health Care Facilities Financing Authority Revenue     
  Bonds (South Jersey Hospital System), 6%, 7/01/12 (a)  5,440  6,220,314 
  New Jersey Health Care Facilities Financing Authority Revenue     
  Bonds (Virtua Health), 5.50%, 7/01/38 (e)    1,000  981,400 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (AHS Hospital Corporation), Series A,     
  6%, 7/01/13 (d)(h)    4,000  4,673,560 
3

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 5.75%, 7/01/12 (a)  $ 1,525  $ 1,709,723 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 6.25%, 7/01/12 (a)  530  602,329 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 6.25%, 7/01/17  925  968,355 
  New Jersey Health Care Facilities Financing Authority, Revenue     
  Refunding Bonds (Atlantic City Medical Center), 5.75%, 7/01/25  1,975  1,980,490 
  New Jersey Health Care Facilities Financing Authority, Revenue     
Refunding Bonds (Meridian Health System Obligation Group), 5.375%,
  7/01/24 (b)    1,000  1,000,310 
        32,463,272 
Housing - 6.8%  New Jersey State Housing and Mortgage Finance Agency, Capital     
  Fund Program Revenue Bonds, Series A, 4.70%, 11/01/25 (b)  10,840  10,527,266 
  New Jersey State Housing and Mortgage Finance Agency, Home     
  Buyer Revenue Bonds, AMT, Series U, 5.60%, 10/01/12 (f)  700  704,354 
  New Jersey State Housing and Mortgage Finance Agency, Home     
  Buyer Revenue Bonds, AMT, Series U, 5.65%, 10/01/13 (f)  2,075  2,088,197 
  New Jersey State Housing and Mortgage Finance Agency, Home     
  Buyer Revenue Bonds, AMT, Series U, 5.75%, 4/01/18 (f)  2,325  2,333,393 
  New Jersey State Housing and Mortgage Finance Agency, Home     
  Buyer Revenue Bonds, AMT, Series U, 5.85%, 4/01/29 (f)  610  610,506 
  New Jersey State Housing and Mortgage Finance Agency Revenue     
  Bonds, Series AA, 6.50%, 10/01/38    3,370  3,581,872 
  New Jersey State Housing and Mortgage Finance Agency, S/F     
  Housing Revenue Refunding Bonds, AMT, Series T, 4.70%, 10/01/37  800  675,192 
        20,520,780 
State - 52.1%  Garden State Preservation Trust of New Jersey, Capital     
  Appreciation Revenue Bonds, Series B, 5.116%, 11/01/23 (b)(i)  9,000  4,597,920 
  Garden State Preservation Trust of New Jersey, Capital     
  Appreciation Revenue Bonds, Series B, 5.196%, 11/01/25 (b)(i)  10,000  4,483,800 
  Garden State Preservation Trust of New Jersey, Open Space and     
  Farmland Preservation Revenue Bonds, Series A, 5.80%,     
  11/01/21 (b)    1,960  2,227,795 
  Garden State Preservation Trust of New Jersey, Open Space and     
  Farmland Preservation Revenue Bonds, Series A, 5.80%, 11/01/23  2,730  3,064,671 
  Garden State Preservation Trust of New Jersey, Open Space and     
  Farmland Preservation, Revenue Refunding Bonds, Series C, 5.25%,     
  11/01/20 (b)    5,000  5,804,700 
  Garden State Preservation Trust of New Jersey, Open Space and     
  Farmland Preservation, Revenue Refunding Bonds, Series C, 5.25%,     
  11/01/21 (b)    7,705  8,901,818 
 
 
 
 
4

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
    Par   
                                                                     Municipal Bonds    (000)  Value 
                                                                     New Jersey EDA, Cigarette Tax Revenue Bonds, 5.625%, 6/15/19  $ 2,700  $ 2,371,194 
                                                                     New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/29 (j)  2,000  1,476,940 
                                                                     New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50%, 6/15/31 (j)  585  409,430 
                                                                     New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/34 (j)  1,180  839,664 
                                                                     New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A,     
                                                                     5.25%, 7/01/26 (f)    7,500  7,679,025 
                                                                     New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A,     
                                                                     5.25%, 7/01/33 (f)    11,105  11,074,017 
                                                                     New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A,     
                                                                     5%, 7/01/34 (f)    2,000  1,922,360 
                                                                     New Jersey EDA, School Facilities Construction Revenue Bonds,     
                                                                     Series L, 5%, 3/01/30 (b)    9,000  9,108,360 
                                                                     New Jersey EDA, School Facilities Construction Revenue Bonds,     
                                                                     Series O, 5.25%, 3/01/23    4,420  4,563,031 
                                                                     New Jersey EDA, School Facilities Construction Revenue Bonds,     
                                                                     Series U, 5%, 9/01/37 (d)    2,500  2,458,900 
                                                                     New Jersey EDA, School Facilities Construction Revenue Bonds,     
                                                                     Series Z, 6%, 12/15/34 (e)    2,800  3,088,400 
                                                                     New Jersey EDA, School Facilities Construction, Revenue Refunding     
                                                                     Bonds, Series N-1, 5.50%, 9/01/27 (c)(f)    1,000  1,069,460 
                                                                     New Jersey EDA, State Lease Revenue Bonds (Liberty State Park     
                                                                     Project), Series C, 5%, 3/01/22 (b)    2,670  2,812,258 
                                                                     New Jersey EDA, State Lease Revenue Bonds (State Office Buildings     
                                                                     Projects), 6%, 6/15/10 (a)(d)    3,000  3,183,510 
                                                                     New Jersey EDA, State Lease Revenue Bonds (State Office Buildings     
                                                                     Projects), 6.25%, 6/15/10 (a)(d)    4,620  4,915,541 
                                                                     New Jersey Sports and Exposition Authority, Luxury Tax Revenue     
                                                                     Refunding Bonds (Convention Center), 5.50%, 3/01/21 (f)  5,890  6,423,870 
                                                                     New Jersey Sports and Exposition Authority, Luxury Tax Revenue     
                                                                     Refunding Bonds (Convention Center), 5.50%, 3/01/22 (f)  3,000  3,246,930 
New Jersey Sports and Exposition Authority, State Contract Revenue
                                                                     Bonds, Series A, 6%, 3/01/13 (f)    2,400  2,488,248 
                                                                     New Jersey State, COP (Equipment Lease Purchase Agreement),     
                                                                     Series A, 5.25%, 6/15/27    1,080  1,082,452 
New Jersey State Educational Facilities Authority, Higher Education,
                                                                     Capital Improvement Revenue Bonds, Series A,       
                                                                     5.125%, 9/01/12 (a)(d)    5,500  6,173,035 
                                                                     New Jersey State Educational Facilities Authority Revenue Bonds     
                                                                     (Capital Improvement Fund), Series A, 5.75%, 9/01/10 (a)(b)  9,420  10,048,314 
                                                                     New Jersey State Transportation Trust Fund Authority,     
                                                                     Transportation System Revenue Bonds, CABS, Series C, 5.05%,     
                                                                     12/15/35 (d)(i)    1,400  268,464 
                                                                     New Jersey State Transportation Trust Fund Authority,     
                                                                     Transportation System Revenue Bonds, Series A, 6%,     
                                                                     6/15/10 (a)    7,500  7,958,775 

5

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series A, 5.625%,     
  12/15/28 (e)    $ 2,000  $ 2,111,660 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series C, 4.715%,     
  12/15/32 (b)(i)    4,050  948,875 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series C, 5.05%,     
  12/15/36 (d)(i)    5,500  983,345 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series D, 5%, 6/15/19 (b)  7,800  8,265,348 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Refunding Bonds, Series A, 5.25%,     
  12/15/20 (b)    10,750  11,762,650 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Refunding Bonds, Series B, 5.50%,     
  12/15/21 (f)    9,165  10,006,622 
        157,821,382 
Tobacco - 1.9%  Tobacco Settlement Financing Corporation of New Jersey, Asset-     
  Backed Revenue Bonds, 7%, 6/01/13 (a)    4,755  5,757,592 
Transportation - 22.4%  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds, 5.50%, 1/01/12 (b)    5,000  5,117,700 
  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds, 5.625%, 1/01/13 (b)    6,000  6,145,740 
  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds, 5.75%, 1/01/15 (b)    500  512,800 
  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds, 6%, 1/01/18 (b)    4,865  5,004,188 
  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds, 6%, 1/01/19 (b)    5,525  5,596,162 
  Delaware River Port Authority of Pennsylvania and New Jersey     
  Revenue Bonds (Port District Project), Series B, 5.625%,     
  1/01/26 (b)    2,425  2,429,122 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series A, 5%, 12/15/32 (d)  1,425  1,429,874 
  New Jersey State Transportation Trust Fund Authority,     
  Transportation System Revenue Bonds, Series C, 5.50%,     
  6/15/13 (a)    1,030  1,191,679 
  New Jersey State Turnpike Authority, Turnpike Revenue Bonds,     
  Series B, 5.15%, 1/01/35 (d)(i)    7,615  5,439,318 
  New Jersey State Turnpike Authority, Turnpike Revenue Refunding     
  Bonds, Series C, 6.50%, 1/01/16 (f)    910  1,099,953 
  New Jersey State Turnpike Authority, Turnpike Revenue Refunding     
  Bonds, Series C, 6.50%, 1/01/16 (f)(h)    4,610  5,402,769 

6

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)  Value 
  Port Authority of New York and New Jersey, Consolidated Revenue     
  Refunding Bonds, AMT, 152nd Series, 5.75%, 11/01/30  $ 5,175  $ 5,212,208 
  Port Authority of New York and New Jersey, Consolidated Revenue     
  Refunding Bonds, AMT, 152nd Series, 5.25%, 11/01/35  6,000  5,609,820 
  Port Authority of New York and New Jersey, Special Obligation     
  Revenue Bonds (JFK International Air Terminal LLC), AMT, Series 6,     
  6.25%, 12/01/11 (f)    13,500  13,715,190 
  Port Authority of New York and New Jersey, Special Obligation     
  Revenue Bonds (JFK International Air Terminal LLC), AMT, Series 6,     
  6.25%, 12/01/15 (f)    1,500  1,476,135 
  Port Authority of New York and New Jersey, Special Obligation     
  Revenue Bonds (JFK International Air Terminal LLC), AMT, Series 6,     
  5.75%, 12/01/25 (f)    3,000  2,383,380 
        67,766,038 
Utilities - 3.7%  Atlantic Highlands, New Jersey, Highland Regional Sewer Authority,     
  Sewer Revenue Refunding Bonds, 5.50%, 1/01/20 (c)(f)  1,875  1,951,031 
  New Jersey EDA, Water Facilities Revenue Bonds (New Jersey-     
  American Water Company, Inc. Project), AMT,       
  Series A, 5.25%, 11/01/32 (d)    3,000  2,422,350 
  North Hudson Sewage Authority, New Jersey, Sewer Revenue     
  Refunding Bonds, 5.125%, 8/01/20 (f)    4,335  4,616,428 
  Rahway Valley Sewerage Authority, New Jersey, Sewer Revenue     
  Bonds, CABS, Series A, 4.79%, 9/01/28 (f)(i)    6,600  2,201,298 
        11,191,107 
  Total Municipal Bonds in New Jersey      438,465,273 
Puerto Rico - 9.2%         
Health - 1.2%  Puerto Rico Industrial, Tourist, Educational, Medical and     
  Environmental Control Facilities Revenue Bonds (Hospital Auxilio     
  Mutuo Obligation Group), Series A, 6.25%, 7/01/24 (f)  1,780  1,765,190 
  Puerto Rico Industrial, Tourist, Educational, Medical and     
  Environmental Control Facilities Revenue Bonds (Hospital de la     
  Concepcion), Series A, 6.50%, 11/15/20    1,750  1,792,560 
        3,557,750 
Housing - 2.1%  Puerto Rico Housing Financing Authority, Capital Funding Program,     
  Subordinate Revenue Refunding Bonds, 5.125%,       
  12/01/27    6,285  6,334,463 
State - 0.9%  Puerto Rico Commonwealth Infrastructure Financing Authority,     
  Special Tax and Capital Appreciation Revenue Bonds, Series A,     
  4.355%, 7/01/37 (d)(i)    4,000  488,560 
  Puerto Rico Public Buildings Authority, Government Facilities     
  Revenue Refunding Bonds, Series M-3, 6%, 7/01/27 (f)(k)  2,125  2,099,351 
        2,587,911 

7

BlackRock MuniHoldings New Jersey Insured Fund, Inc.     
Schedule of Investments April 30, 2009 (Unaudited)  (Percentages shown are based on Net Assets) 
      Par   
  Municipal Bonds    (000)     Value 
Transportation - 1.7%  Puerto Rico Commonwealth Highway and Transportation Authority,     
  Highway Revenue Refunding Bonds, Series CC, 5.50%,     
  7/01/31 (e)    $ 5,000 $  5,202,350 
Utilities - 3.3%  Puerto Rico Commonwealth Aqueduct and Sewer Authority, Senior     
  Lien Revenue Bonds, Series A, 5.125%, 7/01/47 (e)  6,870  6,365,605 
  Puerto Rico Electric Power Authority, Power Revenue Bonds,     
  Series RR, 5%, 7/01/28 (l)    4,100  3,714,354 
        10,079,959 
  Total Municipal Bonds in Puerto Rico      27,762,433 
  Total Municipal Bonds - 154.0%      466,227,706 
  Municipal Bonds Transferred to       
New Jersey - 5.2%  Tender Option Bond Trusts (m)       
Housing - 1.7%  New Jersey State Housing and Mortgage Finance Agency, Capital     
  Fund Program Revenue Bonds, Series A, 5%, 8/15/07 (c)  4,790  4,961,099 
State - 3.5%  Garden State Preservation Trust of New Jersey, Open Space and     
  Farmland Preservation Revenue Bonds, Series A, 5.75%, 11/01/28 (c)  9,160  10,649,233 
  Total Municipal Bonds Transferred to       
  Tender Option Bond Trusts - 5.2%      15,610,332 
  Total Long-Term Investments       
  (Cost - $477,166,095) - 159.2%      481,838,038 
  Short-Term Securities    Shares   
Money Market Fund -  CMA New Jersey Municipal Money Fund, 0.33% (n)(o)  1,610,909  1,610,909 
0.5%         
  Total Short-Term Securities       
  (Cost - $1,610,909) - 0.5%      1,610,909 
  Total Investments (Cost - $478,777,004*) - 159.7%    483,448,947 
  Other Assets Less Liabilities - 1.8%      5,299,695 
  Liability for Trust Certificates,       
  Including Interest Expense and Fees Payable - (3.1)%    (9,304,285) 
  Preferred Shares, at Redemption Value - (58.4)%  (176,718,022) 
  Net Assets Applicable to Common Shares - 100.0%  $  302,726,335 

* The cost and unrealized appreciation (depreciation) of investments as of April 30, 2009, as
computed for federal income tax purposes, were as follows:

Aggregate cost  $  471,163,404 
Gross unrealized appreciation  $  18,439,414 
Gross unrealized depreciation    (15,418,871) 
Net unrealized appreciation  $  3,020,543 

(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) FSA Insured.

(c) FGIC Insured.

(d) AMBAC Insured.

(e) Assured Guaranty Insured.

(f) NPFGC Insured.

8

BlackRock MuniHoldings New Jersey Insured Fund, Inc.
Schedule of Investments April 30, 2009 (Unaudited)

(g) Represents a step-down bond that pays an initial coupon rate for the period and then a lower coupon rate for the
following periods. Rate shown reflects the effective yield as of report date.

(h) Security is collateralized by Municipal or US Treasury Obligations.

(i) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

(j) Radian Insured.

(k) Commonwealth Guaranteed.

(l) CIFG Insured.

(m) 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.

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

(o) 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  (8,139,997)  $                 60,603 

Ÿ Effective August 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting
Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 clarifies the definition of fair value, establishes a
framework for measuring fair values and requires additional disclosures about the use of fair value measurements.
Various inputs are used in determining the fair value of investments, which are as follows:

Ÿ Level 1 - price quotations in active markets/exchanges for identical securities
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 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 circumstance, to the extent
observable inputs are not available (including the Fund's own assumption 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 semi-
annual report.

The following table summarizes the inputs used as of April 30, 2009 in determining the fair valuation of the Fund's
investments:

Valuation    Investments in 
Inputs    Securities 
    Assets 
Level 1  $  1,610,909 
Level 2    481,838,038 
Level 3    - 
Total  $  483,448,947 

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/ Donald C. Burke
Donald C. Burke
Chief Executive Officer of
BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Date: June 19, 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/ Donald C. Burke
Donald C. Burke
Chief Executive Officer (principal executive officer) of
BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Date: June 19, 2009

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

Date: June 19, 2009