MuniHoldings NJ Insured (MUJ) -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 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: 08/01/2008 – 10/31/2008

Item 1 – Schedule of Investments


BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
    Municipal Bonds        (000)    Value 

 
 
 
 
New Jersey - 145.5%    Atlantic Highlands, New Jersey, Highland Regional Sewer Authority, Sewer         
    Revenue Refunding Bonds, 5.50%, 1/01/20 (a)(b)        $ 1,875     $ 1,887,319 

 
 
 
 
    Camden County, New Jersey, Improvement Authority, Lease Revenue Bonds,         
    5.50%, 9/01/10 (c)(d)        1,540    1,625,809 

 
 
 
 
    Carteret, New Jersey, Board of Education, COP, 6%, 1/15/10 (b)(c)    430    453,358 

 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue         
    Bonds, 5.50%, 1/01/12 (d)        5,000    5,118,850 

 
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue         
    Bonds, 5.625%, 1/01/13 (d)        6,000    6,165,000 

 
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue         
    Bonds, 5.75%, 1/01/15 (d)        500    513,590 

 
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue         
    Bonds, 6%, 1/01/18 (d)        4,865    4,975,630 

 
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue         
    Bonds, 6%, 1/01/19 (d)        5,525    5,650,639 

 
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue         
    Bonds (Port District Project), Series B, 5.625%, 1/01/26 (d)    2,425    2,424,927 

 
 
 
    East Orange, New Jersey, Board of Education, COP, 5.50%, 8/01/12 (d)    7,895    8,270,565 

 
 
 
    Essex County, New Jersey, Improvement Authority, Lease Revenue Bonds         
    (Correctional Facility Project), 6%, 10/01/10 (a)(c)        4,000    4,259,560 

 
 
 
 
    Essex County, New Jersey, Improvement Authority Revenue Bonds,         
    Series A, 5%, 10/01/13 (a)(c)        4,400    4,740,956 

 
 
 
 
    Garden State Preservation Trust of New Jersey, Capital Appreciation         
    Revenue Bonds, Series B, 5.12%, 11/01/23 (d)(e)        9,000    3,879,270 

 
 
 
 
    Garden State Preservation Trust of New Jersey, Capital Appreciation         
    Revenue Bonds, Series B, 5.20%, 11/01/25 (d)(e)        10,000    3,777,100 

 
 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation Revenue Bonds, Series A, 5.80%, 11/01/21 (d)    1,960    2,056,883 

 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation Revenue Bonds, Series A, 5.80%, 11/01/23 (d)    2,730    2,844,578 

 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation, Revenue Refunding Bonds, Series C, 5.25%, 11/01/20 (d)    5,000    5,266,450 

 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation, Revenue Refunding Bonds, Series C, 5.25%,         
    11/01/21 (d)        7,705    8,085,396 

 
 
 
 
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 
DRIVERS    Derivative Inverse Tax-Exempt Receipts         

1


BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Schedule of Investments October 31, 2008 (Unaudited)       (Percentages shown are based on Net Assets)

    Par     
Municipal Bonds    (000)           Value 

 
 
Hopatcong, New Jersey, GO, Sewer Refunding Bonds, 4.50%, 8/01/33 (f)    $ 2,690    $ 2,288,733 

 
 
Jersey City, New Jersey, GO, Series B, 5.25%, 9/01/11 (c)(d)    2,230    2,418,703 

 
 
Lafayette Yard, New Jersey, Community Development Revenue Bonds         
(Hotel/Conference Center Project-Trenton), 6%, 4/01/10 (b)(c)    5,250    5,542,635 

 
 
Middlesex County, New Jersey, COP, 5.25%, 6/15/23 (b)    1,550    1,505,251 

 
 
Middlesex County, New Jersey, COP, Refunding, 5.50%, 8/01/16 (b)    1,375    1,433,465 

 
 
Middlesex County, New Jersey, Improvement Authority Revenue Bonds         
(Senior Citizens Housing Project), AMT, 5.50%, 9/01/30 (f)    500    497,445 

 
 
Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
Revenue Refunding Bonds, 5.35%, 12/01/10 (c)(f)    695    735,908 

 
 
Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
Revenue Refunding Bonds, 5.375%, 12/01/10 (c)(f)    535    566,763 

 
 
Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
Revenue Refunding Bonds, 5.35%, 12/01/17 (f)    845    849,918 

 
 
Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
Revenue Refunding Bonds, 5.375%, 12/01/18 (f)    935    937,235 

 
 
Morristown, New Jersey, Parking Authority Revenue Bonds,         
5%, 8/01/30 (b)    1,830    1,703,620 

 
 
Morristown, New Jersey, Parking Authority Revenue Bonds,         
5%, 8/01/33 (b)    3,000    2,734,080 

 
 
New Jersey EDA, Cigarette Tax Revenue Bonds, 5.625%, 6/15/19    2,700    2,305,233 

 
 
New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/29 (h)    2,000    1,552,200 

 
 
New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50%, 6/15/31 (h)    585    431,192 

 
 
New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/34 (h)    1,180    881,283 

 
 
New Jersey EDA, Lease Revenue Bonds (University of Medicine and Dentistry-         
International Center for Public Health Project), 6%, 6/01/32 (f)    5,000    4,658,050 

 
 
New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25%,         
7/01/26 (b)    7,500    7,372,350 

 
 
New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25%,         
7/01/33 (b)    11,105    10,404,719 

 
 
New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A,         
5%, 7/01/34 (b)    2,000    1,807,300 

 
 
New Jersey EDA, School Facilities Construction Revenue Bonds, Series L, 5%,         
3/01/30 (d)    9,000    8,470,530 

 
 
New Jersey EDA, School Facilities Construction Revenue Bonds, Series O,         
5.25%, 3/01/23    4,420    4,438,564 

 
 
New Jersey EDA, School Facilities Construction Revenue Bonds, Series U, 5%,         
9/01/37 (f)    2,500    2,260,050 

 
 
New Jersey EDA, School Facilities Construction, Revenue Refunding Bonds,         
Series N-1, 5.50%, 9/01/27 (a)(b)    1,000    1,009,290 

 
 
New Jersey EDA, Solid Waste Disposal Facilities Revenue Bonds (Waste         
Management Inc.), AMT, Series A, 5.30%, 6/01/15    2,500    2,142,675 

 
 
New Jersey EDA, State Lease Revenue Bonds (Liberty State Park Project),         
Series C, 5%, 3/01/22 (d)    2,670    2,649,307 

 
 
New Jersey EDA, State Lease Revenue Bonds (State Office Buildings         
Projects), 6%, 6/15/10 (c)(f)    3,000    3,175,110 

 
 
 
 
                                                                                                   2         


BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
        Par     
                                                           Municipal Bonds        (000)    Value 
                                                           New Jersey EDA, State Lease Revenue Bonds (State Office Buildings         
                                                           Projects), 6.25%, 6/15/10 (c)(f)        $ 4,620    $ 4,907,965 

 
 
 
                                                           New Jersey EDA, Water Facilities Revenue Bonds (New Jersey-American         
                                                           Water Company, Inc. Project), AMT, Series A, 5.25%, 11/01/32 (f)    3,000    2,344,800 

 
 
                                                           New Jersey Health Care Facilities Financing Authority, Department of         
                                                           Human Services Revenue Bonds (Greystone Park Psychiatric Hospital         
                                                           Project), 5%, 9/15/23 (f)        10,775    10,221,380 

 
 
 
                                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds         
                                                           (Society of the Valley Hospital), 5.375%, 7/01/25 (f)        2,820    2,328,361 

 
 
 
                                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds         
                                                           (Somerset Medical Center), 5.50%, 7/01/33        2,135    1,230,550 

 
 
 
                                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds         
                                                           (South Jersey Hospital System), 6%, 7/01/12 (c)        5,440    5,948,966 

 
 
 
                                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                                           Bonds (AHS Hospital Corporation), Series A, 6%, 7/01/13 (f)(i)    4,000    4,423,240 

 
 
                                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                                           Bonds (Atlantic City Medical Center), 5.75%, 7/01/12 (c)    1,525    1,637,148 

 
 
                                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                                           Bonds (Atlantic City Medical Center), 6.25%, 7/01/12 (c)    530    578,002 

 
 
                                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                                           Bonds (Atlantic City Medical Center), 6.25%, 7/01/17        925    941,224 

 
 
 
                                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                                           Bonds (Atlantic City Medical Center), 5.75%, 7/01/25        1,975    1,832,958 

 
 
 
                                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                                           Bonds (Meridian Health System Obligation Group), 5.375%,         
                                                           7/01/24 (d)        1,000    971,580 

 
 
 
                                                           New Jersey Sports and Exposition Authority, Luxury Tax Revenue Refunding         
                                                           Bonds (Convention Center), 5.50%, 3/01/21 (b)        5,890    5,762,717 

 
 
 
                                                           New Jersey Sports and Exposition Authority, Luxury Tax Revenue Refunding         
                                                           Bonds (Convention Center), 5.50%, 3/01/22 (b)        3,000    2,911,560 

 
 
 
                                                           New Jersey Sports and Exposition Authority, State Contract Revenue Bonds,         
                                                           Series A, 6%, 3/01/13 (b)        2,400    2,482,488 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Higher Education, Capital         
                                                           Improvement Revenue Bonds, Series A, 5.125%, 9/01/12 (c)(f)    7,500    8,046,600 

 
 
                                                           New Jersey State Educational Facilities Authority Revenue Bonds (Capital         
                                                           Improvement Fund), Series A, 5.75%, 9/01/10 (c)(d)        9,420    9,986,896 

 
 
 
                                                           New Jersey State Educational Facilities Authority Revenue Bonds (Montclair         
                                                           State University), Series A, 5%, 7/01/21 (f)        1,200    1,133,124 

 
 
 
                                                           New Jersey State Educational Facilities Authority Revenue Bonds (Montclair         
                                                           State University), Series A, 5%, 7/01/22 (f)        2,880    2,695,363 

 
 
 
                                                           New Jersey State Educational Facilities Authority Revenue Bonds (Rowan         
                                                           University), Series C, 5%, 7/01/14 (b)(c)        3,260    3,504,011 

 
 
 
                                                           New Jersey State Educational Facilities Authority Revenue Bonds (Rowan         
                                                           University), Series C, 5.125%, 7/01/14 (b)(c)        3,615    3,908,610 

 
 
 

3


BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
        Par     
                                                           Municipal Bonds        (000)    Value 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (College of New Jersey), Series D, 5%, 7/01/35 (d)        $ 9,540    $ 8,677,966 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Montclair State University), Series J, 4.25%, 7/01/30 (b)    3,775    2,836,195 

 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Montclair State University), Series L, 5%, 7/01/14 (b)(c)    7,510    8,072,123 

 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Ramapo College), Series I, 4.25%, 7/01/31 (f)        1,250    936,750 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Ramapo College), Series I, 4.25%, 7/01/36 (f)        900    646,056 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Rowan University), Series C, 5.25%, 7/01/11 (a)(c)        790    847,338 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Rowan University), Series C, 5.25%, 7/01/17 (a)        2,135    2,163,502 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Rowan University), Series C, 5.25%, 7/01/18 (a)        2,535    2,541,414 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Rowan University), Series C, 5.25%, 7/01/19 (a)        2,370    2,380,001 

 
 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Stevens Institute of Technology), Series A, 5%, 7/01/27    2,800    2,191,896 

 
 
                                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                                           (Stevens Institute of Technology), Series A, 5%, 7/01/34    900    659,727 

 
 
                                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer         
                                                           Revenue Bonds, AMT, Series U, 5.60%, 10/01/12 (b)        700    702,408 

 
 
 
                                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer         
                                                           Revenue Bonds, AMT, Series U, 5.65%, 10/01/13 (b)        2,075    2,079,150 

 
 
 
                                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer         
                                                           Revenue Bonds, AMT, Series U, 5.75%, 4/01/18 (b)        2,325    2,270,130 

 
 
 
                                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer         
                                                           Revenue Bonds, AMT, Series U, 5.85%, 4/01/29 (b)        610    538,673 

 
 
 
                                                           New Jersey State Housing and Mortgage Finance Agency Revenue Bonds,         
                                                           DRIVERS, Series 2619, 5.856%, 11/01/13 (d)(g)        4    2,659 

 
 
 
                                                           New Jersey State Housing and Mortgage Finance Agency Revenue Bonds,         
                                                           Series AA, 6.50%, 10/01/38        3,370    3,401,611 

 
 
 
                                                           New Jersey State Housing and Mortgage Finance Agency, S/F Housing         
                                                           Revenue Refunding Bonds, AMT, Series T, 4.70%, 10/01/37    800    542,360 

 
 
                                                           New Jersey State Transit Corporation, COP (Federal Transit Administration         
                                                           Grants), Series A, 6.125%, 9/15/09 (c)(f)        2,500    2,585,675 

 
 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Bonds, Series A, 6%, 6/15/10 (c)        7,500    7,937,775 

 
 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Bonds, Series A, 5%, 12/15/32 (f)        1,425    1,293,629 

 
 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Bonds, Series C, 5.50%, 6/15/13 (c)        1,030    1,128,447 

 
 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Bonds, Series C, 4.70%, 12/15/32 (d)(e)    4,050    951,871 

 
 

4


BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments October 31, 2008 (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 C, 5.05%, 12/15/35 (e)(f)    $ 1,400     $ 266,406 

 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Bonds, Series C, 5.05%, 12/15/36 (e)(f)    5,500    979,165 

 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Bonds, Series D, 5%, 6/15/19 (d)        7,800    7,806,942 

 
 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Refunding Bonds, Series A, 5.25%, 12/15/20 (d)    10,750    10,972,847 

 
 
                                                           New Jersey State Transportation Trust Fund Authority, Transportation         
                                                           System Revenue Refunding Bonds, Series B, 5.50%, 12/15/21 (b)    9,165    9,345,734 

 
 
                                                           New Jersey State Turnpike Authority, Turnpike Revenue Bonds, Series B,         
                                                           5.15%, 1/01/35 (e)(f)        7,615    4,642,865 

 
 
 
                                                           New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds,         
                                                           Series C, 6.50%, 1/01/16 (b)        910    1,031,085 

 
 
 
                                                           New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds,         
                                                           Series C, 6.50%, 1/01/16 (b)(i)        4,610    5,149,076 

 
 
 
                                                           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 (b)        620    496,322 

 
 
 
                                                           North Bergen Township, New Jersey, Board of Education, COP, 6%,         
                                                           12/15/10 (c)(d)        1,000    1,082,640 

 
 
 
                                                           North Bergen Township, New Jersey, Board of Education, COP, 6.25%,         
                                                           12/15/10 (c)(d)        3,260    3,546,162 

 
 
 
                                                           North Hudson Sewage Authority, New Jersey, Sewer Revenue Refunding         
                                                           Bonds, 5.125%, 8/01/20 (b)        4,335    4,383,119 

 
 
 
                                                           Orange Township, New Jersey, Municipal Utility and Lease, GO, Refunding,         
                                                           Series C, 5.10%, 12/01/08 (b)(c)        1,035    1,047,658 

 
 
 
                                                           Paterson, New Jersey, Public School District, COP,             
                                                           6.125%, 11/01/09 (b)(c)        1,980    2,085,692 

 
 
 
                                                           Paterson, New Jersey, Public School District, COP, 6.25%, 11/01/09 (b)(c)    2,000    2,109,220 

 
 
                                                           Perth Amboy, New Jersey, GO (Convertible CABS), Refunding,         
                                                           4.50%, 7/01/32 (d)(j)        4,605    3,268,905 

 
 
 
                                                           Perth Amboy, New Jersey, GO (Convertible CABS), Refunding,         
                                                           4.50%, 7/01/33 (d)(j)        1,395    983,782 

 
 
 
                                                           Perth Amboy, New Jersey, GO (Convertible CABS), Refunding,         
                                                           4.50%, 7/01/37 (d)(j)        1,470    1,010,596 

 
 
 
                                                           Port Authority of New York and New Jersey, Consolidated Revenue         
                                                           Refunding Bonds, AMT, 152nd Series, 5.25%, 11/01/35        6,000    5,229,240 

 
 
 
                                                           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 (b)        13,500    13,252,815 

 
 
 
                                                           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 (b)        1,500    1,413,015 

 
 
 

5


BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
    Municipal Bonds        (000)    Value 
    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 (b)        $ 3,000    $ 2,581,350 
   
 
 
 
    Rahway Valley Sewerage Authority, New Jersey, Sewer Revenue Bonds,         
    CABS, Series A, 4.79%, 9/01/28 (b)(e)        6,600    1,906,608 
   
 
 
 
    Salem County, New Jersey, Improvement Authority Revenue Bonds (Finlaw         
    State Office Building Project), 5.375%, 8/15/28 (d)        500    503,265 
   
 
 
 
    South Jersey Port Corporation of New Jersey, Revenue Refunding Bonds,         
    4.50%, 1/01/15        3,750    3,755,438 
   
 
 
 
    South Jersey Port Corporation of New Jersey, Revenue Refunding Bonds,         
    4.50%, 1/01/16        1,920    1,900,205 
   
 
 
 
    Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed         
    Revenue Bonds, 7%, 6/01/13 (c)        4,755    5,482,182 
   
 
 
 
    Trenton, New Jersey, Parking Authority, Parking Revenue Bonds,         
    6.10%, 4/01/10 (a)(c)        8,650    9,109,142 
   
 
 
 
    University of Medicine and Dentistry of New Jersey, COP,         
    5%, 6/15/29 (b)        2,000    1,675,660 
   
 
 
 
    University of Medicine and Dentistry of New Jersey, Revenue Bonds,         
    Series A, 5.50%, 12/01/27 (f)        4,740    4,312,310 
   
 
 
 
    West Deptford Township, New Jersey, GO, 5.625%, 9/01/10 (a)(c)    8,580    9,077,212 
           
                400,359,046 

 
 
 
 
Puerto Rico - 10.2%    Puerto Rico Commonwealth Aqueduct and Sewer Authority, Senior Lien         
    Revenue Bonds, Series A, 5.125%, 7/01/47 (k)        6,870    5,742,977 
   
 
 
 
    Puerto Rico Commonwealth Highway and Transportation Authority, Highway         
    Revenue Refunding Bonds, Series CC, 5.50%, 7/01/31 (k)    5,000    4,680,250 
   
 
 
    Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax         
    and Capital Appreciation Revenue Bonds, Series A, 4.34%,         
    7/01/37 (e)(f)        4,000    554,840 
   
 
 
 
    Puerto Rico Electric Power Authority, Power Revenue Bonds, Series HH,         
    5.25%, 7/01/10 (c)(d)        2,000    2,111,740 
   
 
 
 
    Puerto Rico Electric Power Authority, Power Revenue Bonds, Series RR, 5%,         
    7/01/28 (l)        4,100    3,515,791 
   
 
 
 
    Puerto Rico Housing Financing Authority, Capital Funding Program,         
    Subordinate Revenue Refunding Bonds, 5.125%, 12/01/27    6,285    5,875,218 
   
 
 
    Puerto Rico Industrial, Tourist, Educational, Medical and Environmental         
    Control Facilities Revenue Bonds (Hospital Auxilio Mutuo Obligation Group),         
    Series A, 6.25%, 7/01/24 (b)        1,780    1,726,280 
   
 
 
 
    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    1,786,575 
   
 
 
 
    Puerto Rico Public Buildings Authority, Government Facilities Revenue         
    Refunding Bonds, Series M-3, 6%, 7/01/27        2,125    2,071,301 
               
                28,064,972 

 
 
 
 
    Total Municipal Bonds - 155.7%            428,424,018 

6


BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments October 31, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 

 
            Par     
    Municipal Bonds Transferred to Tender Option Bond Trusts (m)    (000)    Value 
New Jersey - 10.6%    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation Revenue Bonds, Series A, 5.75%, 11/01/28 (d)    $ 9,160    $ 9,937,226 
   
 
 
    New Jersey State Housing and Mortgage Finance Agency, Capital Fund         
    Program Revenue Bonds, Series A, 4.70%, 11/01/25 (d)        11,225    9,635,323 
   
 
 
 
    New Jersey State Housing and Mortgage Finance Agency, Capital Fund         
    Program Revenue Bonds, Series A, 5%, 5/01/27 (d)        4,790    4,610,950 
   
 
 
 
    Port Authority of New York and New Jersey, Consolidated Revenue         
    Refunding Bonds, AMT, 152nd Series, 5.75%, 11/01/30        5,175    4,933,172 

 
 
 
 
    Total Municipal Bonds Transferred to Tender Option             
    Bond Trusts - 10.6%            29,116,671 
    Total Long-Term Investments (Cost - $478,051,091) - 166.3%    457,540,689 

 
 
    Short-Term Securities        Shares     
    CMA New Jersey Municipal Money Fund, 1.61% (n)(o)        9,768,988    9,768,988 
    Total Short-Term Securities (Cost - $9,768,988) - 3.6%        9,768,988 
    Total Investments (Cost - $487,820,079*) - 169.9%            467,309,677 
    Other Assets Less Liabilities - 1.1%            3,092,383 
    Liability for Trust Certificates, Including Interest Expense         
    and Fees Payable - (6.7)%            (18,530,644) 
    Preferred Shares, at Redemption Value - (64.3)%        (176,793,889) 
    Net Assets Applicable to Common Shares - 100.0%        $ 275,077,527 
           

*      The cost and unrealized appreciation (depreciation) of investments as of October 31, 2008, as computed for federal income tax purposes, were as follows:
 
Aggregate cost    $ 470,176,639 
   
Gross unrealized appreciation    $ 8,093,219 
Gross unrealized depreciation    (29,235,181) 
   
Net unrealized depreciation    $ (21,141,962) 
   

(a)      FGIC Insured.
 
(b)      MBIA Insured.
 
(c)      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.
 
(d)      FSA Insured.
 
(e)      Represents a zero-coupon bond. Rate shown reflects the effective yield at the time of purchase.
 
(f)      AMBAC Insured.
 
(g)      Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.
 
(h)      Radian Insured.
 
(i)      Security is collateralized by Municipal or U.S. Treasury Obligations.
 
(j)      Represents a step bond. Rate shown reflects the effective yield at the time of purchase.
 
(k)      Assured Guaranty Insured.
 
(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.
 

7


BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Schedule of Investments October 31, 2008 (Unaudited)

(n)      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    18,082    $48,709 
   
 
 
(o)    Represents the current yield as of report date.         

8


BlackRock MuniHoldings New Jersey Insured Fund, Inc.

Schedule of Investments October 31, 2008 (Unaudited)

Level 1 - price quotations in active markets/exchanges for identical securities

Level 2 - other observable inputs (including, but not limited to: quoted prices for 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 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 annual report.

The following table summarizes the inputs used as of October 31, 2008 in determining the fair valuation of the Fund's investments:

Valuation    Investments in 
Inputs    Securities 

 
Level 1    $ 9,768,988 
Level 2    457,540,689 
Level 3    - 
Total    $ 467,309,677 
   

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 Insured Fund, Inc.

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

Date: December 19, 2008

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: December 19, 2008

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

Date: December 19, 2008