NPORT-EX 2 NPORT_LCQH_7224988699.htm BlackRock MuniHoldings New Jersey Quality Fund

Schedule of Investments  (unaudited)

April 30, 2021

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds

 

Guam — 0.2%  

Utilities — 0.2%

 

Guam Government Waterworks Authority, RB, Series A, 5.00%, 01/01/50

   $     1,015     $       1,232,474  
   

 

 

  

New Jersey — 119.1%

 

Corporate — 1.5%  

New Jersey Economic Development Authority, RB(a)

   

Series A, (NPFGC), 5.25%, 07/01/25

     535       638,426  

Series A, (NPFGC), 5.25%, 07/01/26

     1,415       1,744,596  

New Jersey Economic Development Authority, Refunding RB

    

3.38%, 04/01/38

     2,230       2,341,165  

3.50%, 04/01/42

     1,675       1,740,878  

Series A, AMT, 2.20%, 10/01/39(b)

    850       900,065  
   

 

 

  
      7,365,130  
County/City/Special District/School District — 9.0%  

Casino Reinvestment Development Authority, Inc., Refunding RB

    

5.25%, 11/01/39

     11,130       11,917,559  

5.25%, 11/01/44

     3,755       3,995,846  

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

     3,340       3,888,628  

County of Essex New Jersey, GO, Series B, (SCH BD RES FD), 3.00%, 09/01/46

     1,700       1,755,233  

Essex County Improvement Authority, RB, (GTD), 4.00%, 11/01/49

     575       633,506  

Essex County Improvement Authority, Refunding RB

    

(NPFGC GTD), 5.50%, 10/01/27

     250       326,118  

(GTD, NPFGC), 5.50%, 10/01/28

     4,840       6,484,777  

Ewing Township Board of Education, GO

    

(SCH BD RES FD), 4.00%, 07/15/38

     1,470       1,694,322  

(SCH BD RES FD), 4.00%, 07/15/39

     1,330       1,528,383  

Hudson County Improvement Authority, RB, 4.00%, 10/01/51

     2,800       3,268,972  

Hudson County Improvement Authority, RB, CAB, Series A-1, (NPFGC GTD), 0.00%, 12/15/32(c)

    1,000       795,710  

New Jersey Economic Development Authority, RB 5.00%, 06/15/23(d)

    3,065       3,376,312  

Series KK, 5.00%, 09/01/22(d)

    325       345,833  

Series QQQ, 4.00%, 06/15/50

     1,290       1,460,860  

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

     1,175       1,326,551  

Union County Utilities Authority, Refunding RB, Series A, AMT, (GTD), 5.25%, 12/01/31

     650       667,979  
   

 

 

  
      43,466,589  
Education — 16.4%        

Atlantic County Improvement Authority, RB, Series A, (AGM), 4.00%, 07/01/46

     1,300       1,394,835  

Gloucester County Improvement Authority, RB 5.00%, 07/01/44

     1,985       2,286,105  

(BAM), 4.00%, 07/01/46

     465       541,148  

(BAM), 4.00%, 07/01/51

     645       746,575  

Series A, 5.00%, 07/01/31

     1,950       2,283,703  

Series A, 5.00%, 07/01/32

     1,775       2,077,016  

Series A, 5.00%, 07/01/33

     2,250       2,630,655  

Series A, 5.00%, 07/01/34

     1,200       1,401,828  

New Jersey Economic Development Authority, RB Series A, 5.00%, 01/01/35

     2,000       2,102,060  
Security   Par
(000)		     Value  
Education (continued)  

New Jersey Economic Development Authority, RB (continued)

    

Series A, 5.00%, 07/01/38

   $ 190     $ 219,161  

Series A, 5.00%, 07/01/47

     795       833,542  

Series A, 5.00%, 01/01/48

         2,000           2,074,620  

Series A, 5.00%, 07/01/50

     495       554,628  

Series A, 5.25%, 11/01/54(e)

    2,235       2,275,029  

Series WW, 5.25%, 06/15/25(d)

    460       551,365  

New Jersey Economic Development Authority, Refunding RB

    

(AGM), 5.00%, 06/01/37

     3,990       4,735,691  

(AGM), 5.00%, 06/01/42

     810       953,937  

New Jersey Educational Facilities Authority, RB

    

Series A, 5.00%, 07/01/45

     1,345       1,632,131  

Series C, (AGM), 3.25%, 07/01/49

     585       621,609  

Series C, (AGM), 4.00%, 07/01/50

     495       559,355  

New Jersey Educational Facilities Authority, Refunding RB

    

Series A, 5.00%, 07/01/28

     1,135       1,343,159  

Series A, 5.00%, 07/01/39

     15,555       17,550,240  

Series A, 5.00%, 07/01/44

     3,540       3,980,341  

Series A, 4.00%, 07/01/47

     1,145       1,242,417  

Series D, 5.00%, 07/01/38

     500       531,095  

Series D, 5.00%, 07/01/43

     600       630,390  

New Jersey Higher Education Student Assistance Authority, RB

    

Series 1A, AMT, 4.00%, 12/01/28

     470       489,392  

Series 1A, AMT, 4.50%, 12/01/28

     1,125       1,180,159  

Series 1A, AMT, 4.00%, 12/01/29

     310       322,725  

Series 1A, AMT, 4.50%, 12/01/29

     1,410       1,478,822  

Series 1A, AMT, 4.63%, 12/01/30

     1,385       1,454,984  

Series 1A, AMT, 4.00%, 12/01/31

     505       525,498  

Series 1A, AMT, 4.13%, 12/01/35

     305       317,151  

Series 1A-1, AMT, 4.00%, 12/01/29

     2,645       2,813,804  

Series 1A-1, AMT, 4.25%, 12/01/32

     950       1,013,574  

Series 1A-1, AMT, 4.50%, 12/01/36

     835       889,442  

Sub-Series C, AMT, 4.00%, 12/01/48

     1,760       1,867,043  

New Jersey Higher Education Student Assistance Authority, Refunding RB

    

1st Series, AMT, 5.50%, 12/01/26

     640       654,650  

Series 1, AMT, 5.38%, 12/01/24

     530       541,792  

New Jersey Institute of Technology, RB, Series A, 5.00%, 07/01/45

     7,500       8,646,150  

Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 05/01/23(d)

    1,565       1,715,412  
   

 

 

  
      79,663,233  
Health — 12.2%  

Camden County Improvement Authority, Refunding RB, 5.00%, 02/15/33

     2,000       2,211,920  

Middlesex County Improvement Authority, RB, AMT, (AMBAC), 5.50%, 09/01/30

     490       491,715  

New Jersey Economic Development Authority, Refunding RB

    

5.00%, 01/01/34

     675       783,567  

5.00%, 01/01/39

     675       776,318  

New Jersey Health Care Facilities Financing Authority, RB

    

5.00%, 07/01/42

     2,270       2,730,197  

4.00%, 07/01/44

     2,175       2,525,197  
 

 

1

 

Schedule of Investments  (unaudited) (continued)

April 30, 2021

   

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

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  

Health (continued)

 

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

    

Series A, 5.50%, 07/01/43

   $     7,105     $       7,839,373  

New Jersey Health Care Facilities Financing Authority, Refunding RB

    

5.50%, 07/01/21(d)

    4,055       4,089,467  

6.00%, 07/01/21(d)

    4,180       4,218,832  

5.00%, 07/01/25

     1,000       1,053,870  

5.00%, 07/01/26

     3,720       3,920,210  

5.00%, 07/01/28

     3,000       3,364,500  

5.00%, 07/01/29

     715       801,329  

5.00%, 07/01/34

     1,330       1,610,298  

5.00%, 07/01/39

     1,825       2,176,513  

4.00%, 07/01/41

     1,600       1,799,632  

Series A, 5.00%, 07/01/21(d)

    3,640       3,668,101  

Series A, 5.63%, 07/01/21(d)

    9,310       9,391,090  

Series A, 4.00%, 07/01/43

     1,865       2,081,377  

Series A, 5.00%, 07/01/43

     3,080       3,687,438  
   

 

 

  
      59,220,944  
Housing — 6.1%  

New Jersey Housing & Mortgage Finance Agency Refunding RB

    

Series A, (FHLMC), 2.45%, 11/01/45

     475       459,615  

Series A, (FHLMC), 2.55%, 11/01/50

     430       416,429  

Series A, (FHLMC), 2.63%, 11/01/56

     430       419,074  

New Jersey Housing & Mortgage Finance Agency, RB, Series A, (AGM), 5.00%, 05/01/27

     2,260       2,265,515  

New Jersey Housing & Mortgage Finance Agency, RB, M/F Housing, Series A, 4.55%, 11/01/43

     4,710       4,760,915  

New Jersey Housing & Mortgage Finance Agency, RB, S/F Housing, Series B, 4.50%, 10/01/21(d)

    4,855       4,941,516  

New Jersey Housing & Mortgage Finance Agency, Refunding RB

    

Series 2, AMT, 4.60%, 11/01/38

     3,120       3,244,613  

Series 2, AMT, 4.75%, 11/01/46

     3,795       3,912,379  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, M/F Housing

    

Series A, 4.00%, 11/01/48

     370       399,896  

Series A, 4.10%, 11/01/53

     220       237,219  

Series D, AMT, 4.25%, 11/01/37

     490       529,906  

Series D, AMT, 4.35%, 11/01/42

     1,000       1,073,700  

New Jersey Housing & Mortgage Finance Agency, Refunding RB, S/F Housing

    

Series A, 3.75%, 10/01/35

     3,575       3,897,644  

Series E, 2.25%, 10/01/40

     1,615       1,628,582  

Series E, 2.40%, 10/01/45

     1,245       1,256,043  
   

 

 

  
      29,443,046  
State — 45.6%  

Garden State Preservation Trust, RB, CAB(c)

   

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

     15,725       15,539,445  

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

     10,000       9,576,500  

Garden State Preservation Trust, Refunding RB, Series C, (AGM), 5.25%, 11/01/21

     7,705       7,894,235  

New Jersey Economic Development Authority, RB 4.00%, 06/15/49

     2,930       3,272,693  

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

     1,785       2,029,920  

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

     4,465       5,218,826  

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

     6,085       7,294,637  

Series B, 5.00%, 06/15/43

     1,235       1,484,001  
Security  

Par

(000)

     Value  
State (continued)            

New Jersey Economic Development Authority, RB (continued)

    

Series EEE, 5.00%, 06/15/43

   $       5,395     $ 6,491,696  

Series WW, 5.25%, 06/15/33

     380       446,401  

Series WW, 5.00%, 06/15/34

     5,500       6,398,260  

Series WW, 5.00%, 06/15/36

     3,115       3,615,674  

Series WW, 5.25%, 06/15/40

     7,915       9,081,434  

New Jersey Economic Development Authority, RB, CAB, Series A, (NPFGC), 0.00%, 07/01/21(c)

    2,325       2,323,442  

New Jersey Economic Development Authority, Refunding RB

    

5.00%, 06/15/24

     5,000       5,230,550  

5.00%, 06/15/26

     1,250       1,307,200  

5.00%, 06/15/28

     2,430       2,519,983  

5.00%, 06/15/29

     3,195       3,338,487  

4.00%, 07/01/46

     2,770       3,130,931  

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

     1,000       1,269,700  

Series NN, 5.00%, 03/01/29

     5,000       5,415,800  

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

     5,000       5,553,950  

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

     3,875       4,534,951  

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

     7,300       8,064,529  

New Jersey Educational Facilities Authority, RB

    

Series A, 4.00%, 09/01/28

     9,705       10,778,470  

Series A, 5.00%, 09/01/33

     5,370       6,110,845  

New Jersey Sports & Exposition Authority, Refunding RB, (NPFGC), 5.50%, 03/01/22(a)

    4,200       4,383,708  

New Jersey Transportation Trust Fund Authority, RB

    

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

     1,205       1,401,632  

Series A, 5.00%, 06/15/42

     5,000       5,233,050  

Series AA, 5.00%, 06/15/33

     3,000       3,151,830  

Series AA, 5.25%, 06/15/33

     5,690       6,246,710  

Series AA, 5.25%, 06/15/34

     1,305       1,531,261  

Series AA, 5.00%, 06/15/38

     2,340       2,611,744  

Series AA, 4.00%, 06/15/50

     5,000       5,641,400  

Series B, 5.00%, 06/15/33

     1,340       1,644,930  

Series B, 5.25%, 06/15/36

     5,160       5,188,535  

Series BB, 4.00%, 06/15/50

     3,325       3,671,598  

Series D, 5.00%, 06/15/32

     3,300       3,792,723  

New Jersey Transportation Trust Fund Authority, RB, CAB(c)

    

Series A, 0.00%, 12/15/35

     6,000       4,203,960  

Series C, (AGM), 0.00%, 12/15/32

     8,800       7,152,112  

Series C, (AMBAC), 0.00%, 12/15/35

     4,160       2,978,310  

Series C, (AMBAC), 0.00%, 12/15/36

     7,210       5,014,195  

New Jersey Transportation Trust Fund Authority, Refunding RB

    

4.00%, 12/15/39

     165       188,892  

Series A, 5.00%, 12/15/32

     4,285       5,268,279  

Series A, 5.00%, 12/15/35

     1,095       1,338,528  

South Jersey Port Corp., ARB

    

Series B, AMT, 5.00%, 01/01/42

     3,000       3,458,850  

Series B, AMT, 5.00%, 01/01/48

     1,500       1,713,780  

State of New Jersey, GO, Series A, 4.00%, 06/01/32

     5,570       7,006,781  
   

 

 

  
      220,745,368  
Tobacco — 5.4%  

Tobacco Settlement Financing Corp., Refunding RB Series A, 5.00%, 06/01/46

     3,000       3,542,100  
 

 

 

S C H E D U L E  O F  I N V E S T M E N T S   2

Schedule of Investments  (unaudited) (continued)

April 30, 2021

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  
Tobacco (continued)  

Tobacco Settlement Financing Corp., Refunding RB (continued)

    

Series A, 5.25%, 06/01/46

   $       1,960     $       2,356,626  

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

     17,315       20,293,872  
   

 

 

  
      26,192,598  
Transportation — 16.6%  

New Brunswick Parking Authority, Refunding RB, Series B, (AGM, GTD), 3.00%, 09/01/39

     2,500       2,627,100  

New Jersey Economic Development Authority, RB

    

AMT, 5.13%, 01/01/34

     2,290       2,568,624  

AMT, 5.38%, 01/01/43

     7,730       8,657,677  

New Jersey Transportation Trust Fund Authority, RB

    

Series A, 6.00%, 06/15/21(d)

    6,365       6,407,518  

Series A, 5.00%, 06/15/30

     2,250       2,669,895  

New Jersey Transportation Trust Fund Authority, Refunding RB, Series A, 5.00%, 06/15/31

     6,730       7,965,292  

New Jersey Turnpike Authority, RB

    

Series A, 5.00%, 01/01/35

     1,440       1,750,046  

Series E, 5.00%, 01/01/45

     8,000       9,180,800  

New Jersey Turnpike Authority, Refunding RB

    

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

     4,000       5,261,560  

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

     500       657,695  

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

     4,000       5,364,200  

Series B, 5.00%, 01/01/34

     2,300       2,847,078  

Series B, 5.00%, 01/01/40

     5,740       7,032,763  

Series G, 5.00%, 01/01/36

     5,000       6,162,500  

Series G, 4.00%, 01/01/43

     3,320       3,767,868  

Port Authority of New York & New Jersey, Refunding ARB, Consolidated, 206th Series, AMT, 5.00%, 11/15/47

     3,475       4,149,150  

South Jersey Transportation Authority, RB, Series A, 5.00%, 11/01/45

     2,865       3,566,639  
   

 

 

  
      80,636,405  
Utilities — 6.3%            

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

     2,000       2,004,560  

Passaic Valley Sewerage Commission, Refunding RB

    

Series J, (AGM), 3.00%, 12/01/40

     1,140       1,222,160  

Series J, (AGM), 3.00%, 12/01/41

     1,170       1,251,069  

Series J, (AGM), 3.00%, 12/01/42

     1,190       1,269,266  

Series J, (AGM), 3.00%, 12/01/43

     1,220       1,298,104  

Series J, (AGM), 3.00%, 12/01/44

     1,250       1,327,500  

Series J, (AGM), 3.00%, 12/01/45

     1,275       1,351,742  

Rahway Valley Sewerage Authority, RB, CAB(c)

   

Series A, (NPFGC), 0.00%, 09/01/26

     4,100       3,932,392  

Series A, (NPFGC), 0.00%, 09/01/28

     6,600       6,086,784  

Series A, (NPFGC), 0.00%, 09/01/29

     9,650       8,671,683  

Series A, (NPFGC), 0.00%, 09/01/33

     2,350       1,900,046  
   

 

 

  
      30,315,306  
   

 

 

  

Total Municipal Bonds in New Jersey

 

     577,048,619  

New York — 5.6%

 

Transportation — 5.6%

 

Port Authority of New York & New Jersey, ARB

    

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

     1,000       1,173,710  

Consolidated, 218th Series, AMT, 4.00%, 11/01/34

     1,640       1,943,826  

Consolidated, 218th Series, AMT, 4.00%, 11/01/47

     2,485       2,829,371  

Consolidated, 221st Series, AMT, 4.00%, 07/15/45

     2,165       2,496,050  
Security   Par
(000)		     Value  
Transportation (continued)            

Port Authority of New York & New Jersey,
Refunding ARB

 

  

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

   $     3,110     $     3,749,478  

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

     4,005       4,456,484  

Series 223, AMT, 4.00%, 07/15/51

     2,960       3,434,607  

Port Authority of New York & New Jersey, Refunding RB

    

Consolidated, 200th Series, 5.00%, 09/01/36

     3,090       3,964,995  

Consolidated, 212th Series, 4.00%, 09/01/37

     2,460       2,926,613  
   

 

 

  

Total Municipal Bonds in New York

 

     26,975,134  
Pennsylvania — 2.5%  
Transportation — 2.5%  

Delaware River Port Authority, RB
5.00%, 01/01/29

     2,000       2,242,380  

5.00%, 01/01/37

     8,830       9,852,161  
   

 

 

  

Total Municipal Bonds in Pennsylvania

 

     12,094,541  
Puerto Rico — 4.6%  
State — 4.6%  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB

    

Series A-1, Restructured, 4.75%, 07/01/53

     583       647,229  

Series A-1, Restructured, 5.00%, 07/01/58

     3,462       3,889,245  

Series A-2, Restructured, 4.33%, 07/01/40

     11,732       12,823,311  

Series A-2, Restructured, 4.78%, 07/01/58

     878       977,434  

Series B-1, Restructured, 4.75%, 07/01/53

     638       706,489  

Series B-2, Restructured, 4.78%, 07/01/58

     618       685,807  

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB, CAB, Series A-1, Restructured,
0.00%, 07/01/46(c)

    7,564       2,385,005  
   

 

 

  

Total Municipal Bonds in Puerto Rico

 

     22,114,520  
   

 

 

  

Total Municipal Bonds — 132.0%
(Cost: $577,637,316)

 

     639,465,288  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(f)

 

New Jersey — 21.3%  
County/City/Special District/School District — 6.0%  

Hudson County Improvement Authority, RB, 5.25%, 05/01/51

     3,120       3,718,822  

Union County Utilities Authority, Refunding RB

    

Series A, 5.00%, 06/15/41

     7,573       7,613,225  

Series A, AMT, 5.25%, 12/01/31

     17,300       17,778,518  
   

 

 

  
      29,110,565  
Education — 7.2%            

New Jersey Economic Development Authority, Refunding RB(g)

   

AMT, 3.00%, 08/01/41

     9,749       9,889,313  

AMT, 3.00%, 08/01/43

     14,021       14,222,832  

Rutgers The State University of New Jersey, Refunding RB, Series L, 5.00%, 05/01/23(d)

    10,000       10,961,100  
   

 

 

  
      35,073,245  
Health — 1.4%            

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

     6,133       6,793,339  
   

 

 

  
 

 

 

3

  

Schedule of Investments  (unaudited) (continued)

April 30, 2021

   

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

(Percentages shown are based on Net Assets)

 

Security  

Par

(000)

     Value  
State — 4.7%  

Garden State Preservation Trust, RB, Series A, 5.75%, 11/01/28

   $ 12,460     $ 15,364,176  

New Jersey Economic Development Authority, Refunding RB, Series NN, 5.00%, 03/01/29(g)

    6,698       7,255,192  
   

 

 

  
      22,619,368  
Transportation — 2.0%  

New Jersey Turnpike Authority, RB,
Series A, 5.00%, 07/01/22(d)(g)

    9,300       9,821,637  
   

 

 

  

Total Municipal Bonds in New Jersey

 

     103,418,154  
   

 

 

  
New York — 2.1%  

Transportation — 2.1%

 

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

     10,000       10,200,200  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 23.4%
(Cost: $107,776,928)

 

     113,618,354  
   

 

 

  

Total Long-Term Investments — 155.4%
(Cost: $685,414,244)

 

     753,083,642  
   

 

 

  
     Shares         

Short-Term Securities

 

Money Market Funds — 4.5%  

BlackRock Liquidity Funds, MuniCash, Institutional Class, 0.01%(h)(i)

    21,515,519       21,519,822  
   

 

 

  

Total Short-Term Securities — 4.5%
(Cost: $21,519,822)

 

     21,519,822  
   

 

 

  

Total Investments — 159.9%
(Cost: $706,934,066)

 

     774,603,464  

Other Assets Less Liabilities — 1.6%

 

     8,168,519  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (12.7)%.

 

     (61,563,212 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (48.8)%.

 

     (236,681,118 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

   $ 484,527,653  
   

 

 

  
(a)

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

(b) 

Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available.

(c) 

Zero-coupon bond.

(d) 

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.

(e) 

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

(f) 

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.

(g) 

All or a portion of the 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 January 1, 2022 to February 1, 2037, is $24,100,690.

(h) 

Affiliate of the Fund.

(i) 

Annualized 7-day yield as of period end.

 

 

 

For Fund compliance purposes, the Fund’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
07/31/20		     

Purchases

at Cost

      Proceeds
from Sales		      Net
Realized
Gain (Loss)		      Change in
Unrealized
Appreciation
(Depreciation)		      Value at
04/30/21		     

Shares

Held at
04/30/21

      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

    $  871,428      $  20,648,134 (a)     $  —      $  625      $  (365)      $  21,519,822        21,515,519      $  140      $  —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

 

 

 

S C H E D U L E  O F  I N V E S T M E N T S  

4

Schedule of Investments  (unaudited) (continued)

April 30, 2021

   

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

 

Derivative Financial Instruments Outstanding as of Period End

Futures Contracts

 

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

Short Contracts
10-Year U.S. Treasury Note.

      175          06/21/21        $  23,122        $  (26,222 ) 

U.S. Long Treasury Bond

      53          06/21/21          8,338          (35,241 ) 
                 

 

 

  
                  $  (61,463 ) 
                 

 

 

  

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of 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 the 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); and

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the 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 financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund’s financial instruments categorized in the fair value hierarchy. The breakdown of the Fund’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

      Level 1        Level 2        Level 3        Total  

Assets

                  

Investments

                  

Long-Term Investments

                  

Municipal Bonds

    $ —        $  639,465,288        $              —        $  639,465,288  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          113,618,354          —          113,618,354  

Short-Term Securities

                  

Money Market Funds

      21,519,822          —          —          21,519,822  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $   21,519,822        $    753,083,642        $ —        $ 774,603,464  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                 

Liabilities

                  

Interest Rate Contracts

    $ (61,463 )       $ —        $  —        $   (61,463) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

Derivative financial instruments are futures contracts and options written. Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value.

 

 

 

5

  

Schedule of Investments  (unaudited) (continued)

April 30, 2021

   

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 fair value hierarchy as follows:

 

      Level 1        Level 2        Level 3        Total  

Liabilities

                  

TOB Trust Certificates

    $ —          $     (61,534,134 )       $             —        $ (61,534,134 ) 

VRDP Shares at Liquidation Value

      —          (237,100,000 )         —          (237,100,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ —          $   (298,634,134 )       $ —        $  (298,634,134 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGC    Assured Guaranty Corp.
AGM    Assured Guaranty Municipal Corp.
AMBAC    AMBAC Assurance Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
BHAC    Berkshire Hathaway Assurance Corp.
CAB    Capital Appreciation Bonds
FHLMC    Federal Home Loan Mortgage Corp.
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
RB    Revenue Bond
S/F    Single-Family
SAW    State Aid Withholding

 

 

S C H E D U L E  O F  I N V E S T M E N T S

  

6