MuniHoldings New Jersey Insured -- 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: 07/31/2008

Date of reporting period: 02/01/2008 – 04/30/2008

Item 1 – Schedule of Investments

BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments as of April 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
            Par     
    Municipal Bonds        (000)             Value 
 
 
 
 
New Jersey -    Atlantic Highlands, New Jersey, Highland Regional Sewer Authority, Sewer         
147.7%    Revenue Refunding Bonds, 5.50%, 1/01/20 (a)        $ 1,875    $ 1,968,131 
   
 
 
 
    Camden County, New Jersey, Improvement Authority, Lease Revenue         
    Bonds, 5.50%, 9/01/10 (b)(c)        1,540    1,645,706 
   
 
 
 
    Carteret, New Jersey, Board of Education, COP, 6%, 1/15/10 (c)(d)    430    460,207 
   
 
 
    Delaware River and Bay Authority Revenue Bonds, 5%, 1/01/33 (d)    2,500    2,514,300 
   
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds,         
    5.50%, 1/01/12 (b)        5,000    5,213,500 
   
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds,         
    5.625%, 1/01/13 (b)        6,000    6,274,320 
   
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds,         
    5.75%, 1/01/15 (b)        500    523,540 
   
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds,         
    6%, 1/01/18 (b)        4,865    5,080,422 
   
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds,         
    6%, 1/01/19 (b)        5,525    5,769,647 
   
 
 
 
    Delaware River Port Authority of Pennsylvania and New Jersey Revenue Bonds         
    (Port District Project), Series B, 5.625%, 1/01/26 (b)        2,425    2,495,786 
   
 
 
 
    East Orange, New Jersey, Board of Education, COP, 5.50%, 8/01/12 (b)    7,895    8,437,939 
   
 
 
    Essex County, New Jersey, Improvement Authority, Lease Revenue Bonds         
    (Correctional Facility Project), 6%, 10/01/10 (a)(c)        4,000    4,318,760 
   
 
 
 
    Essex County, New Jersey, Improvement Authority Revenue Bonds,         
    Series A, 5%, 10/01/13 (a)(c)        4,400    4,824,336 
   
 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation Revenue Bonds, Series A, 5.80%, 11/01/21 (b)        1,960    2,200,923 
   
 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation Revenue Bonds, Series A, 5.80%, 11/01/23 (b)        2,730    3,048,373 
   
 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation Revenue Bonds, Series A, 5.75%, 11/01/28 (b)        9,160    10,344,631 
   
 
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation, Revenue Refunding Bonds, Series C, 5.25%, 11/01/20 (b)    5,000    5,653,400 
   
 
 
    Garden State Preservation Trust of New Jersey, Open Space and Farmland         
    Preservation, Revenue Refunding Bonds, Series C, 5.25%, 11/01/21 (b)    7,705    8,686,848 
   
 
 
    Garden State Preservation Trust of New Jersey Revenue Bonds, CABS,         
    Series B, 5.12%, 11/01/23 (b)(e)        9,000    4,275,090 
   
 
 
 
    Garden State Preservation Trust of New Jersey Revenue Bonds, CABS,         
    Series B, 5.20%, 11/01/25 (b)(e)        10,000    4,227,500 
   
 
 
 
    Hopatcong, New Jersey, GO, Sewer Refunding Bonds, 4.50%, 8/01/33 (f)    2,690    2,649,892 
   
 
 
    Jersey City, New Jersey, GO, Series B, 5.25%, 9/01/11 (b)(c)        2,230    2,450,413 
 
 
 
 
Portfolio Abbreviations             
 
 
 

To simplify the listings of BlackRock MuniHoldings New Jersey Insured Fund, Inc.'s portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below.

AMT    Alternative Minimum Tax (subject to)    GO    General Obligation Bonds 
CABS    Capital Appreciation Bonds    S/F    Single-Family 
COP    Certificates of Participation    VRDN    Variable Rate Demand Notes 
EDA    Economic Development Authority         

1

BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments as of April 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                           Municipal Bonds        (000)             Value 
 
 
 
                                           Lafayette Yard, New Jersey, Community Development Revenue Bonds         
                                           (Hotel/Conference Center Project-Trenton), 6%, 4/01/10 (c)(d)    $ 5,250    $ 5,616,555 
 
 
                                           Middlesex County, New Jersey, COP, 5.25%, 6/15/23 (d)        1,550    1,583,573 
 
 
 
                                           Middlesex County, New Jersey, COP, Refunding, 5.50%, 8/01/16 (d)    1,375    1,463,605 
 
 
                                           Middlesex County, New Jersey, Improvement Authority, Lease Revenue Bonds         
                                           (Educational Services Commission Projects), 6%, 7/15/10 (c)        5,270    5,722,956 
 
 
 
                                           Middlesex County, New Jersey, Improvement Authority Revenue Bonds (Senior         
                                           Citizens Housing Project), AMT, 5.50%, 9/01/30 (f)        500    509,715 
 
 
 
                                           Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
                                           Revenue Refunding Bonds, 5.35%, 12/01/10 (c)(f)        695    743,928 
 
 
 
                                           Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
                                           Revenue Refunding Bonds, 5.375%, 12/01/10 (c)(f)        535    572,996 
 
 
 
                                           Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
                                           Revenue Refunding Bonds, 5.35%, 12/01/17 (f)        845    888,906 
 
 
 
                                           Monmouth County, New Jersey, Improvement Authority, Governmental Loan         
                                           Revenue Refunding Bonds, 5.375%, 12/01/18 (f)        935    984,256 
 
 
 
                                           Morristown, New Jersey, Parking Authority Revenue Bonds, 5%, 8/01/30 (d)    1,830    1,862,428 
 
 
                                           Morristown, New Jersey, Parking Authority Revenue Bonds, 5%, 8/01/33 (d)    3,000    3,044,190 
 
 
                                           New Jersey EDA, Cigarette Tax Revenue Bonds, 5.625%, 6/15/19    2,700    2,698,704 
 
 
                                           New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/29    2,000    1,954,440 
 
 
                                           New Jersey EDA, Cigarette Tax Revenue Bonds, 5.50%, 6/15/31    585    550,017 
 
 
                                           New Jersey EDA, Cigarette Tax Revenue Bonds, 5.75%, 6/15/34    1,180    1,129,248 
 
 
                                           New Jersey EDA, Lease Revenue Bonds (University of Medicine and Dentistry-         
                                           International Center for Public Health Project), 6%, 6/01/32 (f)    5,000    5,086,750 
 
 
                                           New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25%,         
                                           7/01/26 (d)        7,500    7,952,550 
 
 
 
                                           New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5.25%,         
                                           7/01/33 (d)        11,105    11,392,693 
 
 
 
                                           New Jersey EDA, Motor Vehicle Surcharge Revenue Bonds, Series A, 5%, 7/01/34         
                                           (d)        2,000    2,013,580 
 
 
 
                                           New Jersey EDA, School Facilities Construction Revenue Bonds, Series L, 5%,         
                                           3/01/30 (b)        9,000    9,166,230 
 
 
 
                                           New Jersey EDA, School Facilities Construction Revenue Bonds,         
                                           Series O, 5.25%, 3/01/23        4,420    4,647,453 
 
 
 
                                           New Jersey EDA, School Facilities Construction Revenue Bonds, Series U, 5%,         
                                           9/01/37 (f)        2,500    2,548,425 
 
 
 
                                           New Jersey EDA, School Facilities Construction, Revenue Refunding Bonds,         
                                           Series N-1, 5.50%, 9/01/27 (a)        1,000    1,107,570 
 
 
 
                                           New Jersey EDA, Solid Waste Disposal Facilities Revenue Bonds (Waste         
                                           Management Inc.), AMT, Series A, 5.30%, 6/01/15        2,500    2,498,600 
 
 
 
                                           New Jersey EDA, State Lease Revenue Bonds (Liberty State Park Project), Series         
                                           C, 5%, 3/01/22 (b)        2,670    2,779,523 
 
 
 
                                           New Jersey EDA, State Lease Revenue Bonds (State Office Buildings Projects),         
                                           6%, 6/15/10 (c)(f)        3,000    3,222,030 
 
 
 
                                           New Jersey EDA, State Lease Revenue Bonds (State Office Buildings Projects),         
                                           6.25%, 6/15/10 (c)(f)        4,620    4,985,719 
 
 
 

2

BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments as of April 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                           Municipal Bonds        (000)    Value 
 
 
 
                                           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    $ 2,907,570 
 
 
 
                                           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    10,994,164 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds (Meridian         
                                           Health), Series V, 5%, 7/01/38        2,000    2,014,140 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds (Society         
                                           of the Valley Hospital), 5.375%, 7/01/25 (f)        2,820    2,899,637 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds (Somerset         
                                           Medical Center), 5.50%, 7/01/33        2,135    1,773,523 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority Revenue Bonds (South         
                                           Jersey Hospital), 6%, 7/01/12 (c)        5,440    6,061,357 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (AHS Hospital Corporation), Series A, 6%, 7/01/13 (f)(g)    4,000    4,547,880 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (Atlantic City Medical Center), 5.75%, 7/01/12 (c)        1,525    1,684,362 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (Atlantic City Medical Center), 6.25%, 7/01/12 (c)        530    597,898 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (Atlantic City Medical Center), 6.25%, 7/01/17        925    1,000,813 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (Atlantic City Medical Center), 5.75%, 7/01/25        1,975    2,026,231 
 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (Hackensack University Medical Center), 5.25%, 1/01/36 (h)    1,250    1,286,200 
 
 
                                           New Jersey Health Care Facilities Financing Authority, Revenue Refunding         
                                           Bonds (Meridian Health System Obligation Group), 5.375%, 7/01/24 (b)    1,000    1,028,870 
 
 
                                           New Jersey Sports and Exposition Authority, Luxury Tax Revenue Refunding         
                                           Bonds (Convention Center), 5.50%, 3/01/21 (d)        5,890    6,623,482 
 
 
 
                                           New Jersey Sports and Exposition Authority, Luxury Tax Revenue Refunding         
                                           Bonds (Convention Center), 5.50%, 3/01/22 (d)        3,000    3,365,640 
 
 
 
                                           New Jersey Sports and Exposition Authority, State Contract Revenue Bonds,         
                                           Series A, 6%, 3/01/13 (d)        2,400    2,524,896 
 
 
 
                                           New Jersey State Educational Facilities Authority, Higher Education, Capital         
                                           Improvement Revenue Bonds, Series A, 5.125%, 9/01/12 (c)(f)    7,500    8,171,850 
 
 
                                           New Jersey State Educational Facilities Authority Revenue Bonds (Capital         
                                           Improvement Fund), Series A, 5.75%, 9/01/10 (b)(c)        9,420    10,120,236 
 
 
 
                                           New Jersey State Educational Facilities Authority Revenue Bonds (Montclair         
                                           State University), Series A, 5%, 7/01/21 (f)        1,200    1,260,240 
 
 
 
                                           New Jersey State Educational Facilities Authority Revenue Bonds (Montclair         
                                           State University), Series A, 5%, 7/01/22 (f)        2,880    3,011,414 
 
 
 
                                           New Jersey State Educational Facilities Authority Revenue Bonds (Rowan         
                                           University), Series C, 5%, 7/01/14 (c)(d)        3,260    3,586,033 
 
 
 
                                           New Jersey State Educational Facilities Authority Revenue Bonds (Rowan         
                                           University), Series C, 5.125%, 7/01/14 (c)(d)        3,615    4,001,660 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (College of New Jersey), Series D, 5%, 7/01/35 (b)        9,540    9,784,737 
 
 
 

3

BlackRock MuniHoldings New Jersey Insured Fund, Inc.             
Schedule of Investments as of April 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
        Par     
                                           Municipal Bonds        (000)    Value 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Montclair State University), Series J, 4.25%, 7/01/30 (d)    $ 3,775     $3,456,692 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Montclair State University), Series L, 5%, 7/01/14 (c)(d)        7,510    8,261,075 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Ramapo College), Series I, 4.25%, 7/01/31 (f)        1,250    1,134,900 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Ramapo College), Series I, 4.25%, 7/01/36 (f)        900    803,520 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series B, 5%, 7/01/25        4,300    4,513,022 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5.25%, 7/01/11 (a)(c)        265    287,989 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5.25%, 7/01/11 (a)(c)        240    260,820 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5.25%, 7/01/11 (a)(c)        285    309,724 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5.25%, 7/01/17 (a)        2,135    2,238,526 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5.25%, 7/01/18 (a)        2,535    2,634,879 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5.25%, 7/01/19 (a)        2,370    2,466,886 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Rowan University), Series C, 5%, 7/01/31 (a)        850    846,473 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Stevens Institute of Technology), Series A, 5%, 7/01/27        2,800    2,678,340 
 
 
 
                                           New Jersey State Educational Facilities Authority, Revenue Refunding Bonds         
                                           (Stevens Institute of Technology), Series A, 5%, 7/01/34        900    798,075 
 
 
 
                                           New Jersey State Housing and Mortgage Finance Agency, Capital Fund Program         
                                           Revenue Bonds, Series A, 5%, 5/01/27 (b)        4,800    4,950,192 
 
 
 
                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue         
                                           Bonds, AMT, Series U, 5.60%, 10/01/12 (d)        725    736,680 
 
 
 
                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue         
                                           Bonds, AMT, Series U, 5.65%, 10/01/13 (d)        2,090    2,123,189 
 
 
 
                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue         
                                           Bonds, AMT, Series U, 5.75%, 4/01/18 (d)        2,345    2,372,061 
 
 
 
                                           New Jersey State Housing and Mortgage Finance Agency, Home Buyer Revenue         
                                           Bonds, AMT, Series U, 5.85%, 4/01/29 (d)        615    617,884 
 
 
 
                                           New Jersey State Housing and Mortgage Finance Agency, S/F Housing Revenue         
                                           Refunding Bonds, AMT, Series T, 4.70%, 10/01/37        800    704,016 
 
 
 
                                           New Jersey State Transit Corporation, COP (Federal Transit Administration         
                                           Grants), Series A, 6.125%, 9/15/09 (c)(f)        2,500    2,622,950 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Bonds, CABS, Series C, 4.70%, 12/15/32 (b)(e)        4,050    1,118,529 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Bonds, CABS, Series C, 5.05%, 12/15/35 (e)(f)        1,400    324,212 
 
 
 

4

BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments as of April 30, 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, CABS, Series C, 5.05%, 12/15/36 (e)(f)        $ 5,500    $ 1,203,290 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Bonds, Series A, 6%, 6/15/10 (c)        7,500    8,055,075 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Bonds, Series A, 5%, 12/15/32 (f)        1,425    1,453,400 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Bonds, Series D, 5%, 6/15/19 (b)        7,800    8,279,076 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Refunding Bonds, Series A, 5.25%, 12/15/20 (b)        10,750    12,026,543 
 
 
 
                                           New Jersey State Transportation Trust Fund Authority, Transportation System         
                                           Revenue Refunding Bonds, Series B, 5.50%, 12/15/21 (d)        9,165    10,350,401 
 
 
 
                                           New Jersey State Turnpike Authority, Turnpike Revenue Bonds,         
                                           Series B, 5.15%, 1/01/35 (e)(f)        7,615    5,475,109 
 
 
 
                                           New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds,         
                                           Series C, 6.50%, 1/01/16 (d)        910    1,045,818 
 
 
 
                                           New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds,         
                                           Series C, 6.50%, 1/01/16 (d)(g)        4,355    4,997,188 
 
 
 
                                           New Jersey State Turnpike Authority, Turnpike Revenue Refunding Bonds,         
                                           Series C, 6.50%, 1/01/16 (d)(g)        255    292,602 
 
 
 
                                           New Jersey State Turnpike Authority, Turnpike Revenue Bonds, VRDN,         
                                           Series C-1, 2.10%, 1/01/24 (b)(i)        8,100    8,100,000 
 
 
 
                                           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 (d)        620    578,522 
 
 
 
                                           North Bergen Township, New Jersey, Board of Education, COP, 6%,         
                                           12/15/10 (b)(c)        1,000    1,096,950 
 
 
 
                                           North Bergen Township, New Jersey, Board of Education, COP, 6.25%,         
                                           12/15/10 (b)(c)        3,260    3,596,628 
 
 
 
                                           North Hudson Sewage Authority, New Jersey, Sewer Revenue Refunding Bonds,         
                                           5.125%, 8/01/20 (d)        4,335    4,734,860 
 
 
 
                                           Orange Township, New Jersey, Municipal Utility and Lease, GO, Refunding,         
                                           Series C, 5.10%, 12/01/17 (d)        1,035    1,058,536 
 
 
 
                                           Paterson, New Jersey, Public School District, COP, 6.125%, 11/01/09 (c)(d)    1,980    2,110,858 
 
 
                                           Paterson, New Jersey, Public School District, COP, 6.25%, 11/01/09 (c)(d)    2,000    2,135,860 
 
 
                                           Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 4.50%,         
                                           7/01/32 (b)(e)        4,605    3,776,653 
 
 
 
                                           Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 4.50%,         
                                           7/01/33 (b)(e)        1,395    1,143,105 
 
 
 
                                           Perth Amboy, New Jersey, GO (Convertible CABS), Refunding, 4.55%,         
                                           7/01/37 (b)(e)        1,470    1,200,490 
 
 
 
                                           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 (d)    13,500    14,480,213 
 
 

5

BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments as of April 30, 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, 6.25%,12/01/15 (d)    $ 1,500    $ 1,649,265 
   
 
 
    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 (d)    3,000    2,999,760 
   
 
 
    Rahway Valley Sewerage Authority, New Jersey, Sewer Revenue Bonds, CABS,         
    Series A, 4.79%, 9/01/28 (d)(e)        6,600    2,312,574 
   
 
 
 
    Salem County, New Jersey, Improvement Authority Revenue Bonds (Finlaw         
    State Office Building Project), 5.375%, 8/15/28 (b)        500    533,280 
   
 
 
 
    South Jersey Port Corporation of New Jersey, Revenue Refunding         
    Bonds, 4.50%, 1/01/15        3,750    3,874,163 
   
 
 
 
    South Jersey Port Corporation of New Jersey, Revenue Refunding         
    Bonds, 4.50%, 1/01/16        1,920    1,970,304 
   
 
 
 
    Tobacco Settlement Financing Corporation of New Jersey, Asset-Backed         
    Revenue Bonds, 7%, 6/01/13 (c)        4,755    5,585,746 
   
 
 
 
    Trenton, New Jersey, Parking Authority, Parking Revenue Bonds, 6.10%,         
    4/01/10 (a)(c)        8,650    9,250,569 
   
 
 
 
    University of Medicine and Dentistry of New Jersey, COP, 5%, 6/15/29 (d)    2,000    2,001,980 
   
 
 
    University of Medicine and Dentistry of New Jersey, Revenue Bonds,         
    Series A, 5.50%, 12/01/27 (f)        4,740    4,831,956 
   
 
 
 
    West Deptford Township, New Jersey, GO, 5.625%, 9/01/10 (a)(c)    8,580    9,193,127 
           
                458,717,672 
 
 
 
 
Puerto Rico -    Puerto Rico Commonwealth Aqueduct and Sewer Authority, Senior Lien         
12.4%    Revenue Bonds, Series A, 5.125%, 7/01/47 (h)        6,870    7,018,667 
   
 
 
 
    Puerto Rico Commonwealth Highway and Transportation Authority,         
    Transportation Revenue Refunding Bonds, Series N, 5.25%, 7/01/39 (a)    15,100    14,972,858 
   
 
 
    Puerto Rico Commonwealth Infrastructure Financing Authority, Special Tax and         
    Capital Appreciation Revenue Bonds, Series A, 4.34%, 7/01/37 (e)(f)    4,000    781,240 
   
 
 
    Puerto Rico Electric Power Authority, Power Revenue Bonds,             
    Series HH, 5.25%, 7/01/10 (b)(c)        6,830    7,306,734 
   
 
 
 
    Puerto Rico Electric Power Authority, Power Revenue Bonds, Series RR, 5%,         
    7/01/28 (j)        5,100    4,923,693 
   
 
 
 
    Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control         
    Facilities Revenue Bonds (Hospital Auxilio Mutuo Obligation Group), Series A,         
    6.25%, 7/01/24 (d)        1,780    1,794,400 
   
 
 
 
    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     1,877,558 
               
                38,675,150 
 
 
 
 
    Total Municipal Bonds             
    (Cost - $484,936,820) - 160.1%            497,392,822 
 
 
 
 

6

BlackRock MuniHoldings New Jersey Insured Fund, Inc.         
Schedule of Investments as of April 30, 2008 (Unaudited)    (Percentages shown are based on Net Assets) 
 
            Par     
    Municipal Bonds Transferred to Tender Option Bond Trusts (k)    (000)           Value 
 
 
 
New Jersey -    New Jersey State Housing and Mortgage Finance Agency, Capital Fund Program         
3.6%    Revenue Bonds, Series A, 4.70%, 11/01/25 (h)        $ 11,225    $ 11,109,763 
 
 
 
 
    Total Municipal Bonds Transferred to Tender Option Bond Trusts         
    (Cost - $11,082,979) - 3.6%            11,109,763 
 
 
 
 
    Short-Term Securities        Shares     
 
 
 
 
    CMA New Jersey Municipal Money Fund, 2.12% (l)(m)        4,868,220    4,868,220 
 
 
 
 
    Total Short-Term Securities             
    (Cost - $4,868,220) - 1.6%            4,868,220 
 
 
 
 
    Total Investments             
    (Cost - $500,888,019*) - 165.3%            513,370,805 
    Other Assets Less Liabilities - 1.9%            5,950,258 
    Liabilities for Trust Certificates, Including Interest Expense and Fees         
    Payable - (1.8%)            (5,580,163) 
    Preferred Stock, at Redemption Value - (65.4%)            (203,111,964) 
           
 
    Net Assets Applicable to Common Stock - 100.0%        $ 310,628,936 
           

*      The cost and unrealized appreciation (depreciation) of investments as of April 30, 2008, as computed for federal income tax purposes, were as follows:
 
Aggregate cost    $ 495,403,807 
   
Gross unrealized appreciation    $ 17,022,175 
Gross unrealized depreciation    (4,615,177) 
   
Net unrealized appreciation    $ 12,406,998 
   

(a)      FGIC Insured.
 
(b)      FSA Insured.
 
(c)      U.S. government securities, held in escrow, are used to pay interest on this security, as well as, retire the bond in full at the date indicated, typically at a premium to par.
 
(d)      MBIA Insured.
 
(e)      Represents a zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase.
 
(f)      AMBAC Insured.
 
(g)      Security is collateralized by municipal or U.S. Treasury obligations.
 
(h)      Assured Guaranty Insured.
 
(i)      Variable rate security. Rate shown is as of report date. Maturity shown is the final maturity date.
 
(j)      CIFG Insured.
 
(k)      Security represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund may have acquired the residual interest certificates. These securities serve as collateral in a financing transaction.
 
(l)      Represents the current yield as of report date.
 
(m)      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    Dividend Income 
 
 
CMA New Jersey Municipal Money Fund    (3,509,300)    $90,409 
 
 

7

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: June 23, 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: June 23, 2008

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

Date: June 23, 2008