Jonjo Shelvey netted his third goal of the season against the R's when he rifled in with only 38 seconds on the clock.
Conor Washington levelled just before half-time, but Matt Ritchie headed home before the hosts missed an array of chances to put the game to bed.
Ciaran Clark’s late own goal handed the QPR a point from the game, but the QPR boss thinks his team could have won the game with better finishing on the night.
R’s deserved at least a point
Holloway, whose side were in 19th place going into the game, stated that he would have taken a point prior to the game against the promotion-chasing Magpies.
“Truthfully, (we deserved) three (points) if we could finish,” he said.
“Would I have taken this before we started, would I have taken this after 45 seconds? Probably, yeah.
“When you look at earlier on in the season and how good this team (Newcastle) is, I just thought we played really well.”
Holloway said his side took an early “punch on the chin”, but they shook themselves down and “managed to go” and find an equaliser through Washington on 44 minutes.
Holloway hoping QPR will get stronger
Matt Ritchie headed the hosts ahead just after the break before Clark’s header at the end, and the former Blackpool boss is hoping the result can help his side progress.
“I’d like to think we are going to get stronger, he added. “Stronger together, standing together no matter what.
“To me, losing a game is just a drop-stitch in the rich tapestry of football. That is what you have got to learn up here, you can’t win every week.”
Holloway referred to the game at St James’ Park as a game of chess, and he was “really proud” of what his side achieved in front of a 47,000-strong crowd.
He added: “I know you want to, but no matter what you spend, it doesn’t make you win every week and you have got to do your part.
“I felt even if we had lost they would have still been pleased with what my team tried to give them, that’s all you can do.”
New additions can only help team
Holloway was able to introduce new signings Luke Freeman and Sean Goss in the second-half, and he now believes that the dressing room is stronger now than when he first took over – also with the additions of Ravel Morrison and Matt Smith.
“I have got some choices in there,” he stated. “When I dismantled the team, I left myself really short to try and bring in people.
“Big Matt Smith is vital, Ravel Morrison I am taking under my wing and (I will) see if I can help him because he’s got that maverick about him."
QPR’s boss continued by claiming that back when he started siamantling the side, he would have only had a seven-iron and a putter if he were a golfer, but now he has an array of clubs.
Holloway said: “Now I feel like I have got a whole bag of clubs that I can choose for different shapes and different things and the boys have got to learn different shapes.
“I want to affect people, to care like I do about this badge," he banged on his chest, "I know your man is exactly the same with his badge.”