NPORT-EX 2 NPORT_LCQH_83944299_0423.htm BlackRock MuniHoldings New Jersey Quality Fund

Schedule of Investments (unaudited) 

April 30, 2023

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Municipal Bonds

 

New Jersey — 132.0%

 

Corporate — 7.5%

 

New Jersey Economic Development Authority, ARB

    

Series A, AMT, 5.63%, 11/15/30

   $      1,730     $ 1,751,556  

Series B, AMT, 5.63%, 11/15/30

     6,900       6,980,406  

New Jersey Economic Development Authority, RB

    

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

    950       996,719  

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

    1,415       1,522,782  

AMT, 4.00%, 08/01/59

     1,000       877,040  

New Jersey Economic Development Authority, Refunding RB

    

3.38%, 04/01/38

     4,040       3,851,748  

3.50%, 04/01/42

     3,030       2,780,576  

AMT, 3.00%, 08/01/41

     21,580       17,299,240  

AMT, 3.00%, 08/01/43

     21,400       16,458,783  
   

 

 

  
          52,518,850  

County/City/Special District/School District — 14.9%

 

City of Bayonne New Jersey, Refunding GO, (BAM SAW), 5.00%, 07/01/26(b)

    2,425       2,593,993  

Clifton Board of Education, GO, (AGM), 2.25%, 08/15/46

     6,150       4,023,601  

Clifton Board Of Education, GO, (AGM), 2.00%, 08/15/41

     6,150       4,329,631  

County of Essex New Jersey, GO, Series B, 3.00%, 09/01/46

     1,700       1,372,373  

County of Middlesex New Jersey, Refunding COP, 5.00%, 10/15/31

     2,840       3,152,727  

Essex County Improvement Authority, Refunding RB

    

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

     250       280,009  

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

     9,380       10,752,425  

(NPFGC GTD), 5.50%, 10/01/29

     8,505       9,957,382  

Ewing Township Board of Education, GO
4.00%, 07/15/38

     2,660       2,710,218  

4.00%, 07/15/39

     2,320       2,357,519  

Hudson County Improvement Authority, RB 5.00%, 05/01/46

     5,655       5,846,948  

Series A-1, (NPFGC GTD), 0.00%, 12/15/32(c)

    1,000       735,004  

Mercer County Improvement Authority, RB, 5.00%, 09/01/40

     2,480       2,565,079  

Middlesex County Improvement Authority, RB, Series B, 6.25%, 01/01/37(d)(e)

    2,350       24,134  

Monroe Township Board of Education/Middlesex County, Refunding GO, 5.00%, 03/01/25(b)

    2,750       2,850,622  

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

    3,065       3,071,372  

Series B, AMT, 6.50%, 04/01/31

     4,010       4,252,621  

New Jersey Economic Development Authority, Refunding SAB, 6.50%, 04/01/28

     3,972       4,167,700  

Newark Board of Education, Refunding GO, Sustainability Bonds, (BAM), 3.00%, 07/15/42

     1,500       1,180,864  

Township of Irvington New Jersey, Refunding GO, Series A, (AGM), 5.00%, 07/15/24(b)

    1,175       1,201,707  

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

     37,810       37,870,345  
   

 

 

  
      105,296,274  

Education — 22.5%

    

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

     2,250       2,160,241  
Security   Par
(000)		     Value  

Education (continued)

    

Camden County Improvement Authority, RB, 6.00%, 06/15/52

   $ 780     $ 819,427  

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

     1,985           2,027,741  

New Jersey Economic Development Authority, RB 6.00%, 10/01/33

         4,520       4,562,935  

Series A, 5.00%, 07/01/27(f)

    330       324,598  

Series A, 5.13%, 11/01/29(f)

    150       146,862  

Series A, 5.00%, 01/01/35

     2,000       1,910,684  

Series A, 5.25%, 07/01/37(f)

    1,030       964,325  

Series A, 5.00%, 07/01/38

     350       354,041  

Series A, 6.25%, 11/01/38(f)

    440       445,428  

Series A, 5.00%, 07/01/47

     1,235       1,153,439  

Series A, 5.38%, 07/01/47(f)

    1,685       1,503,500  

Series A, 5.00%, 12/01/48

     4,475       4,562,298  

Series A, 5.00%, 06/15/49(f)

    970       881,153  

Series A, 5.00%, 07/01/50

     905       892,255  

Series A, 6.50%, 11/01/52(f)

    2,490       2,507,559  

Series A, 5.00%, 06/15/54(f)

    730       652,579  

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

    4,040       3,341,597  

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

    460       482,336  

New Jersey Economic Development Authority, Refunding RB

    

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

     6,270       6,471,286  

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

     810       827,147  

Class I, (SAP), 5.46%, 03/01/28(g)

    4,510       4,498,639  

Series A, 4.25%, 09/01/27(f)

    210       204,710  

Series A, 5.63%, 08/01/34(f)

    630       633,589  

Series A, 5.00%, 09/01/37(f)

    805       762,658  

Series A, 5.88%, 08/01/44(f)

    1,070       1,071,554  

Series A, 6.00%, 08/01/49(f)

    555       555,921  

Series A, 5.13%, 09/01/52(f)

    1,700       1,520,550  

New Jersey Educational Facilities Authority, RB

    

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

     1,060       850,879  

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

     895       818,963  

New Jersey Educational Facilities Authority, Refunding RB

    

Series A, 5.00%, 07/01/39

     15,555       15,904,350  

Series A, 5.00%, 07/01/44

     14,500       14,659,007  

Series A, 4.00%, 07/01/47

     2,100       1,900,630  

Series D, 5.00%, 07/01/38

     1,000       1,002,470  

Series D, 5.00%, 07/01/43

     600       600,680  

New Jersey Higher Education Student Assistance Authority, RB

    

Series 1A, AMT, 4.00%, 12/01/28

     270       270,028  

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

     715       715,238  

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

     185       185,020  

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

     910       910,308  

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

     895       895,359  

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

     290       290,031  

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

     175       175,011  

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

     1,325       1,327,658  

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

     480       482,410  

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

     420       422,344  

Series B, AMT, 4.00%, 12/01/44

     1,575       1,550,777  

Series C, AMT, 5.00%, 12/01/53

     985       969,920  

Sub-Series C, AMT, 4.00%, 12/01/48

     3,210       2,945,191  

New Jersey Higher Education Student Assistance

    

Authority, Refunding RB

    

Series B, AMT, 4.00%, 12/01/41

     3,265       3,247,323  

Series B, Class B, AMT, 3.00%, 12/01/32

     4,635       4,461,600  
 

 

1

  

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Education (continued)

    

New Jersey Higher Education Student Assistance Authority, Refunding RB (continued)

    

Sub-Series C, AMT, 3.63%, 12/01/49

   $ 1,925     $ 1,557,067  

Series C, AMT, Subordinate, 5.00%, 12/01/52

     18,705       19,322,845  

New Jersey Institute of Technology, RB

    

Series A, 5.00%, 07/01/45

     12,000       12,274,596  

Series A, AMT, 5.00%, 07/01/40

     3,000       3,091,641  

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

          21,565       21,565,000  
   

 

 

  
          158,635,398  

Health — 7.8%

    

Camden County Improvement Authority, Refunding RB

    

5.00%, 02/15/33

     2,000       2,024,032  

5.00%, 02/15/34

     590       597,095  

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

     430       430,422  

New Jersey Economic Development Authority, Refunding RB

    

5.00%, 01/01/34

     1,230       1,169,638  

5.00%, 01/01/39

     1,980       1,762,315  

5.00%, 01/01/49

     1,500       1,241,209  

New Jersey Health Care Facilities Financing Authority, RB

    

5.00%, 07/01/42

     2,000       2,051,340  

2.38%, 07/01/46

     3,735       2,573,516  

3.00%, 07/01/51

     14,850       11,163,933  

4.00%, 07/01/51

     4,000       3,761,568  

Series A, 5.50%, 07/01/43

     5,505       5,528,176  

Series B, 2.85%, 07/01/43(g)

    10,450       10,450,000  

New Jersey Health Care Facilities Financing Authority, Refunding RB

    

5.00%, 01/01/24(b)

    180       182,181  

5.00%, 07/01/28

     2,820       2,854,534  

5.00%, 07/01/29

     715       723,855  

5.00%, 07/01/34

     2,190       2,337,919  

4.00%, 07/01/41

     3,000       2,993,463  

Series A, 4.00%, 07/01/43

     3,500       3,444,850  
   

 

 

  
      55,290,046  

Housing — 3.7%

    

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

     1,570       1,570,520  

New Jersey Housing & Mortgage Finance Agency, RB, S/F Housing, Series H, 2.15%, 10/01/41

     2,995       2,237,397  

New Jersey Housing & Mortgage Finance Agency, Refunding RB

    

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

     3,120       3,061,628  

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

     3,795       3,591,626  

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

    

Series A, 2.45%, 11/01/45

     860       586,799  

Series A, 2.65%, 11/01/46

     1,150       803,843  

Series A, 4.00%, 11/01/48

     675       592,040  

Series A, 2.55%, 11/01/50

     780       501,646  

Series A, 2.70%, 11/01/51

     1,150       761,369  

Series A, 4.10%, 11/01/53

     400       370,265  

Series A, 2.63%, 11/01/56

     780       480,892  

Series A, 2.75%, 11/01/56

     1,150       735,914  

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

     1,750       1,668,053  
Security   Par
(000)		     Value  

Housing (continued)

    

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

    

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

   $       1,000     $ 926,040  

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

    

Series A, 3.75%, 10/01/35

     5,295       5,075,284  

Series E, 2.40%, 10/01/45

     1,885       1,338,318  

Newark Housing Authority, RB, M/F Housing, Series A, AMT, 5.00%, 12/01/30

     2,000       2,020,438  
   

 

 

  
          26,322,072  

State — 33.8%

    

Casino Reinvestment Development Authority, Inc., Refunding RB

    

5.25%, 11/01/39

     13,410       13,597,633  

5.25%, 11/01/44

     15,755       15,880,410  

Garden State Preservation Trust, RB(c)

   

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

     17,185       16,918,461  

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

     10,000       9,274,080  

Series B, (AGM), 0.00%, 11/01/26

     6,000       5,403,102  

Series B, (AGM), 0.00%, 11/01/27

     4,000       3,492,608  

Series B, (AGM), 0.00%, 11/01/28

     4,540       3,840,232  

New Jersey Economic Development Authority, RB

    

5.00%, 12/15/28(b)

    6,305       7,126,321  

5.00%, 06/15/43

     10,690       11,264,994  

4.00%, 11/01/44

     4,715       4,561,211  

4.00%, 06/15/49

     5,310       4,940,424  

Class A, 5.25%, 11/01/47

     7,800       8,541,468  

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

     1,785       1,821,992  

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

     7,915       8,238,249  

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

     6,085       6,466,882  

Series A, 5.00%, 06/15/42

     2,000       2,092,092  

Series B, 5.00%, 06/15/35

     3,750       4,054,425  

Series B, 5.00%, 06/15/43

     3,470       3,656,644  

Series WW, 5.00%, 06/15/25(b)

    8,615       8,989,348  

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

    8,295       8,703,740  

New Jersey Economic Development Authority, Refunding RB
4.00%, 07/01/46

     5,025       5,039,527  

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

     1,000       1,096,443  

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

     5,000       5,085,365  

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

     5,050       5,371,003  

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

     8,570       8,675,240  

New Jersey Educational Facilities Authority, RB

    

Series A, 4.00%, 09/01/28

     9,705       9,783,785  

Series A, 5.00%, 09/01/32

     4,000       4,088,140  

Series A, 5.00%, 09/01/33

     5,370       5,489,697  

New Jersey Transportation Trust Fund Authority, RB
5.00%, 06/15/42

     785       853,676  

5.25%, 06/15/46

     790       868,885  

4.50%, 06/15/49

     4,600       4,636,956  

Class BB, 4.00%, 06/15/40

     6,000       5,895,054  

Series BB, 4.00%, 06/15/44

     5,100       4,916,507  

South Jersey Port Corp., ARB

    

Series A, 5.00%, 01/01/49

     4,150       4,238,681  

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

     12,870       13,115,971  

State of New Jersey, GO

    

2.00%, 06/01/37

     5,825       4,706,699  

5.00%, 06/01/40

     5,085       5,538,994  
   

 

 

  
      238,264,939  
 

 

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, 2023

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

Tobacco — 7.8%

    

Tobacco Settlement Financing Corp., Refunding RB

    

Series A, 5.00%, 06/01/46

   $       10,000     $ 10,293,920  

Series A, 5.25%, 06/01/46

     6,500       6,771,810  

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

     38,000       37,699,648  
   

 

 

  
          54,765,378  

Transportation — 28.8%

    

New Jersey Economic Development Authority, RB

    

AMT, (AGM), 5.00%, 01/01/31

     1,000       1,007,088  

AMT, 5.13%, 01/01/34

     2,290       2,299,350  

AMT, 5.38%, 01/01/43

     23,510       23,562,850  

New Jersey Economic Development Authority, Refunding ARB

    

AMT, 5.00%, 10/01/37

     2,750       2,709,655  

AMT, 5.00%, 10/01/47

     1,450       1,367,904  

New Jersey Transportation Trust Fund Authority, RB

    

Class BB, 5.00%, 06/15/36

     3,750       4,158,315  

Class BB, 4.00%, 06/15/37

     1,550       1,556,242  

Class BB, 4.00%, 06/15/50

     8,290       7,664,271  

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

     1,205       1,234,707  

Series A, 5.00%, 06/15/30

     4,250       4,490,860  

Series AA, 5.25%, 06/15/33

     5,690       5,702,057  

Series AA, 5.25%, 06/15/34

     1,305       1,360,427  

Series AA, 4.00%, 06/15/36

     2,565       2,594,977  

Series AA, 5.00%, 06/15/38

     11,830       12,079,956  

Series AA, 5.50%, 06/15/39

     8,205       8,226,005  

Series AA, 5.25%, 06/15/41

     5,000       5,148,945  

Series AA, 4.00%, 06/15/45

     10,980       10,440,333  

Series AA, 5.00%, 06/15/45

     5,000       5,325,825  

Series AA, 4.00%, 06/15/50

     13,535       12,439,667  

Series B, 5.00%, 06/15/33

     2,450       2,679,957  

Series BB, 4.00%, 06/15/50

     10,100       9,377,597  

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

    14,050       10,135,108  

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

    8,300       4,884,376  

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

    7,210       3,977,548  

Series D, 5.00%, 06/15/32

     3,300       3,399,554  

New Jersey Transportation Trust Fund Authority, RB, CAB, Series A, 0.00%, 12/15/35(c)

    6,000       3,530,904  

New Jersey Transportation Trust Fund Authority, Refunding RB

    

4.00%, 12/15/39

     4,795       4,737,589  

Series A, 5.00%, 06/15/31

     12,270       12,972,335  

Series A, 4.00%, 06/15/35

     1,605       1,639,832  

Series A, 5.00%, 12/15/35

     2,000       2,155,664  

Series A, 4.00%, 06/15/36

     3,695       3,739,558  

Series A, 5.00%, 12/15/36

     500       535,866  

New Jersey Turnpike Authority, RB

    

Series A, 4.00%, 01/01/42

     4,000       3,993,192  

Series A1, 5.00%, 01/01/35

     2,500       2,692,840  

Series E, 5.00%, 01/01/45

     8,720       8,907,079  

New Jersey Turnpike Authority, Refunding RB

    

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

     4,000       4,565,524  

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

     500       564,983  

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

     4,000       4,657,488  
   

 

 

  
          202,516,428  

Utilities — 5.2%

    

Passaic Valley Sewerage Commission, Refunding RB

    

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

     2,060       1,764,310  

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

     2,110       1,774,981  

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

     2,155       1,783,334  
Security   Par
(000)		     Value  

Utilities (continued)

    

Passaic Valley Sewerage Commission, Refunding RB (continued)

    

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

   $ 2,205     $ 1,793,629  

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

     2,255       1,800,040  

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

     2,305       1,804,393  

Rahway Valley Sewerage Authority, RB(c)

   

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

     4,100       3,716,047  

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

     6,600       5,644,386  

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

     9,650       8,015,000  

Series A, (NPFGC), 0.00%, 09/01/31

     6,000       4,679,094  

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

           5,000       3,615,590  
   

 

 

  
      36,390,804  
   

 

 

  

Total Municipal Bonds in New Jersey

           930,000,189  

New York — 6.3%

    

Transportation — 6.3%

    

Port Authority of New York & New Jersey, ARB 93rd Series, 6.13%, 06/01/94

     6,000       6,215,310  

AMT, 5.00%, 11/01/30

     2,000       2,222,426  

AMT, 5.00%, 11/01/33

     1,030       1,135,802  

218th Series, AMT, 5.00%, 11/01/32

     3,105       3,432,615  

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

     835       793,072  

221st Series, AMT, 4.00%, 07/15/40

     1,500       1,502,042  

221th Series, AMT, 4.00%, 07/15/50

     4,415       4,131,274  

Port Authority of New York & New Jersey, Refunding ARB

    

AMT, 5.00%, 01/15/47

     7,720       8,230,084  

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

     4,475       4,667,541  

206th Series, AMT, 5.00%, 11/15/47

     5,000       5,164,595  

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

     4,005       4,042,579  

Series 223, AMT, 4.00%, 07/15/41

     2,530       2,479,501  
   

 

 

  

Total Municipal Bonds in New York

       44,016,841  

Pennsylvania — 2.3%

    

Transportation — 2.3%

    

Delaware River Joint Toll Bridge Commission, RB, 5.00%, 07/01/42

     2,460       2,576,083  

Delaware River Port Authority, RB
5.00%, 01/01/24(b)

    2,000       2,023,146  

5.00%, 01/01/37

     7,330       7,447,925  

5.00%, 01/01/40

     4,000       4,064,304  
   

 

 

  

Total Municipal Bonds in Pennsylvania

       16,111,458  

Puerto Rico — 4.8%

    

State — 4.8%

    

Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, Series A1, Restructured, 4.75%, 07/01/53

     2,878       2,701,984  

Puerto Rico Sales Tax Financing Corp Sales Tax Revenue, RB, CAB, Series A1, Restructured, 0.00%, 07/01/46(c)

    11,852       3,222,713  

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

    

Series A1, Restructured, 5.00%, 07/01/58

     12,646       12,161,190  

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

     2,906       2,691,581  

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

     12,863       11,948,312  
 

 

3

  

Schedule of Investments (unaudited) (continued)

April 30, 2023

   

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

(Percentages shown are based on Net Assets)

 

Security   Par
(000)		     Value  

State (continued)

 

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, RB (continued)

    

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

   $     638     $ 596,480  

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

     618       573,511  
   

 

 

  

Total Municipal Bonds in Puerto Rico

 

     33,895,771  
   

 

 

  

Total Municipal Bonds — 145.4%

 

  

(Cost: $1,031,723,811)

       1,024,024,259  
   

 

 

  

Municipal Bonds Transferred to Tender Option Bond Trusts(h)

 

New Jersey — 5.1%

 

County/City/Special District/School District — 1.6%

 

Union County Utilities Authority, Refunding RB, Series A, 5.00%, 06/15/41

     11,685       11,700,463  
   

 

 

  

Health — 0.7%

 

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

     5,555       5,014,806  
   

 

 

  

State — 2.8%

 

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

     17,920       19,556,961  
   

 

 

  

Total Municipal Bonds in New Jersey

 

     36,272,230  
   

 

 

  

Total Municipal Bonds Transferred to Tender Option Bond Trusts — 5.1%

 

  

(Cost: $35,646,440)

       36,272,230  
   

 

 

  

Total Long-Term Investments — 150.5%

 

  

(Cost: $1,067,370,251)

       1,060,296,489  
   

 

 

  

 

Security  

    

Shares

     Value  

Short-Term Securities

 

Money Market Funds — 8.9%

 

BlackRock Liquidity Funds, MuniCash, Institutional Class, 3.27%(i)(j)

    62,687,375      $ 62,681,106  
   

 

 

  

Total Short-Term Securities — 8.9%

    

(Cost: $62,682,898)

       62,681,106  
   

 

 

  

Total Investments — 159.4%

 

  

(Cost: $1,130,053,149)

       1,122,977,595  

Other Assets Less Liabilities — 2.9%

 

     20,104,925  

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable — (3.2)%

 

     (22,351,127 ) 

VRDP Shares at Liquidation Value, Net of Deferred Offering Costs — (59.1)%

 

     (416,346,119 ) 
   

 

 

  

Net Assets Applicable to Common Shares — 100.0%

 

    $ 704,385,274  
   

 

 

  

 

(a) 

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

(b) 

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.

(c) 

Zero-coupon bond.

(d) 

Issuer filed for bankruptcy and/or is in default.

(e) 

Non-income producing security.

(f) 

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.

(g) 

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.

(h) 

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.

(i) 

Affiliate of the Fund.

(j) 

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, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
07/31/22		     

Purchases

at Cost

      Proceeds
from Sales		      Net
Realized
Gain (Loss)		      Change in
Unrealized
Appreciation
(Depreciation)		      Value at
04/30/23		     

Shares

Held at
04/30/23

      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, MuniCash, Institutional Class

    $ 42,316,790      $ 20,380,472 (a)     $ —      $ (4,181 )     $ (11,975 )     $ 62,681,106        62,687,375      $ 699,699      $ —  
        

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

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

 

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, 2023

   

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

 

Fair Value Hierarchy as of Period End (continued)

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the 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 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

    $ —        $ 1,024,024,259        $ —        $ 1,024,024,259  

Municipal Bonds Transferred to Tender Option Bond Trusts

      —          36,272,230          —          36,272,230  

Short-Term Securities

                  

Money Market Funds

      62,681,106          —          —          62,681,106  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $     62,681,106        $   1,060,296,489        $                 —        $ 1,122,977,595  
  

 

 

       

 

 

       

 

 

       

 

 

  

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

    $ —        $ (22,059,998 )       $ —        $ (22,059,998 ) 

VRDP Shares at Liquidation Value

      —          (417,100,000 )         —          (417,100,000 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  
   $                 —        $ (439,159,998 )       $                 —        $ (439,159,998 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

Portfolio Abbreviation
AGM    Assured Guaranty Municipal Corp.
AMBAC    AMBAC Assurance Corp.
AMT    Alternative Minimum Tax
ARB    Airport Revenue Bonds
BAM    Build America Mutual Assurance Co.
BHAC-CR    Berkshire Hathaway Assurance Corp. - Custodian Receipt
CAB    Capital Appreciation Bonds
COP    Certificates of Participation
GO    General Obligation Bonds
GTD    GTD Guaranteed
M/F    Multi-Family
NPFGC    National Public Finance Guarantee Corp.
RB    Revenue Bond
S/F    Single-Family
SAB    Special Assessment Bonds
SAP    Subject to Appropriations
SAW    State Aid Withholding

 

5