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 811-06570

 

Name of Fund: BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

 

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

 

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock MuniYield New Jersey Fund, Inc., 55 East 52nd Street, New York, NY 10055

 

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

 

Date of fiscal year end: 07/31/2012

 

Date of reporting period: 10/31/2011

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments October 31, 2011 (Unaudited)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey — 128.7%

 

 

 

 

 

 

 

Corporate — 3.5%

 

 

 

 

 

 

 

New Jersey EDA, Refunding RB, New
Jersey American Water Co. Inc.
Project, Series A, AMT, 5.70%,
10/01/39

 

$

2,925

 

$

3,061,656

 

Salem County Utilities Authority,
Refunding RB, Atlantic City Electric,
Series A, 4.88%, 6/01/29

 

 

4,550

 

 

4,705,928

 

 

 

 

 

 

 

7,767,584

 

County/City/Special District/School District — 14.2%

 

 

 

 

 

 

 

City of Margate City New Jersey, New
Jersey, GO, Improvement:

 

 

 

 

 

 

 

5.00%, 1/15/26

 

 

1,200

 

 

1,306,044

 

5.00%, 1/15/27

 

 

845

 

 

914,222

 

City of Perth Amboy New Jersey, GO, CAB
(AGM) (a):

 

 

 

 

 

 

 

5.00%, 7/01/33

 

 

1,575

 

 

1,573,929

 

5.00%, 7/01/34

 

 

1,925

 

 

1,920,784

 

County of Hudson New Jersey, COP,
Refunding (NPFGC), 6.25%, 12/01/16

 

 

1,500

 

 

1,704,645

 

Essex County Improvement Authority, RB,
Newark Project, Series A (AGM):

 

 

 

 

 

 

 

5.00%, 11/01/20

 

 

375

 

 

395,078

 

6.00%, 11/01/30

 

 

545

 

 

589,036

 

Essex County Improvement Authority,
Refunding RB, Project Consolidation
(NPFGC):

 

 

 

 

 

 

 

5.50%, 10/01/28

 

 

2,700

 

 

3,154,221

 

5.50%, 10/01/29

 

 

5,085

 

 

5,904,295

 

Garden State Preservation Trust, RB,
Capital Appreciation, Series A (AGM),
5.11%, 11/01/28 (b)

 

 

4,540

 

 

2,040,503

 

Hudson County Improvement Authority,
RB, Harrison Parking Facility Project,
Series C (AGC), 5.38%, 1/01/44

 

 

4,800

 

 

5,145,648

 

Middlesex County Improvement Authority,
RB:

 

 

 

 

 

 

 

Golf Course Projects, 5.25%,
6/01/22

 

 

1,455

 

 

1,590,519

 

Senior Heldrich Center Hotel,
Series A, 5.00%, 1/01/20

 

 

655

 

 

395,371

 

Monmouth County Improvement Authority,
RB, Government Loan (AMBAC):

 

 

 

 

 

 

 

5.00%, 12/01/15

 

 

5

 

 

5,009

 

5.00%, 12/01/16

 

 

5

 

 

5,008

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

County/City/Special District/School District (concluded)

 

 

 

 

 

 

 

Newark Housing Authority, RB, South
Ward Police Facility (AGC):

 

 

 

 

 

 

 

5.75%, 12/01/30

 

$

1,115

 

$

1,211,593

 

6.75%, 12/01/38

 

 

2,670

 

 

3,112,553

 

 

 

 

 

 

 

30,968,458

 

Education — 18.3%

 

 

 

 

 

 

 

New Jersey EDA, RB, School Facilities
Construction:

 

 

 

 

 

 

 

Series CC-2, 5.00%,
12/15/31

 

 

1,700

 

 

1,767,507

 

Series CC-2, 5.00%,
12/15/32

 

 

1,300

 

 

1,346,904

 

Series Y, 5.00%, 9/01/33

 

 

880

 

 

903,496

 

New Jersey EDA, Refunding RB, Series
GG, 5.25%, 9/01/27

 

 

3,000

 

 

3,226,590

 

New Jersey Educational Facilities
Authority, RB:

 

 

 

 

 

 

 

Georgian Court University,
Series D, 5.25%, 7/01/37

 

 

1,000

 

 

1,005,760

 

Kean University, Series A,
5.50%, 9/01/36

 

 

4,060

 

 

4,369,656

 

Montclair State University,
Series J, 5.25%, 7/01/38

 

 

1,140

 

 

1,196,738

 

Rider University, Series A
(Radian), 5.00%, 7/01/17

 

 

1,000

 

 

1,012,960

 

Rider University, Series A
(Radian), 5.25%, 7/01/34

 

 

1,450

 

 

1,449,884

 

Rider University, Series C
(Radian), 5.00%, 7/01/37

 

 

1,750

 

 

1,717,607

 

New Jersey Educational Facilities
Authority, Refunding RB:

 

 

 

 

 

 

 

College of New Jersey, Series D
(AGM), 5.00%, 7/01/35

 

 

6,115

 

 

6,364,064

 

New Jersey Institute of
Technology, Series H, 5.00%,
7/01/31

 

 

1,250

 

 

1,300,288

 

Rowan University, Series B (AGC),
5.00%, 7/01/24

 

 

1,800

 

 

1,958,112

 

University of Medicine &
Dentistry, Series B, 7.13%,
12/01/23

 

 

1,300

 

 

1,548,898

 

University of Medicine &
Dentistry, Series B, 7.50%,
12/01/32

 

 

1,625

 

 

1,888,721

 

 

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 following list:

 

 

AGC

Assured Guaranty Corp.

AGM

Assured Guaranty Municipal Corp.

AMBAC

American Municipal Bond Assurance Corp.

AMT

Alternative Minimum Tax (subject to)

CAB

Capital Appreciation Bonds

COP

Certificates of Participation

EDA

Economic Development Authority

FGIC

Financial Guaranty Insurance Co.

GO

General Obligation Bonds

NPFGC

National Public Finance Guarantee Corp.

Radian

Radian Group, Inc.

RB

Revenue Bonds

S/F

Single-Family

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

OCTOBER 31, 2011

1


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Education (concluded)

 

 

 

 

 

 

 

New Jersey Higher Education
Assistance Authority, Refunding RB,
Series 1A:

 

 

 

 

 

 

 

5.00%, 12/01/25

 

$

1,035

 

$

1,068,286

 

5.00%, 12/01/26

 

 

645

 

 

663,982

 

5.25%, 12/01/32

 

 

900

 

 

929,880

 

New Jersey Higher Education Student
Assistance Authority, RB, Series A,
AMT, 5.75%, 12/01/29

 

 

4,045

 

 

4,150,615

 

Rutgers-State University of New Jersey,
Refunding RB, Series F, 5.00%,
5/01/39

 

 

2,000

 

 

2,120,520

 

 

 

 

 

 

 

39,990,468

 

Health — 19.6%

 

 

 

 

 

 

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

CAB, Barnabas, Series A (NPFGC),
6.27%, 7/01/24 (b)

 

 

3,850

 

 

1,849,655

 

Masonic Charity Foundation of
New Jersey, 5.25%, 6/01/24

 

 

1,425

 

 

1,452,859

 

Masonic Charity Foundation of
New Jersey, 5.25%, 6/01/32

 

 

685

 

 

688,521

 

New Jersey EDA, Refunding RB, First
Mortgage, Winchester, Series A:

 

 

 

 

 

 

 

5.75%, 11/01/24

 

 

2,500

 

 

2,486,000

 

5.80%, 11/01/31

 

 

1,000

 

 

985,350

 

New Jersey Health Care Facilities
Financing Authority, RB:

 

 

 

 

 

 

 

AHS Hospital Corp., 6.00%,
7/01/41

 

 

2,435

 

 

2,658,703

 

Childrens Specialized
Hospital, Series A, 5.50%,
7/01/36

 

 

1,540

 

 

1,473,811

 

Hospital Asset Transformation
Program, Series A, 5.25%,
10/01/38

 

 

2,300

 

 

2,335,857

 

Hunterdon Medical Center,
Series A, 5.13%, 7/01/35

 

 

1,950

 

 

1,901,562

 

Meridian Health, Series I (AGC),
5.00%, 7/01/38

 

 

985

 

 

998,869

 

Meridian Health System Obligation
Group (AGM), 5.25%, 7/01/29

 

 

2,195

 

 

2,196,097

 

Pascack Valley Hospital
Association, 6.63%,
7/01/36 (c)(d)

 

 

1,845

 

 

18

 

South Jersey Hospital, 5.00%,
7/01/36

 

 

385

 

 

378,544

 

Southern Ocean County
Hospital (Radian), 5.13%,
7/01/31

 

 

2,000

 

 

1,882,920

 

Virtua Health (AGC), 5.50%,
7/01/38

 

 

2,500

 

 

2,619,125

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB:

 

 

 

 

 

 

 

Atlantic City Medical Center,
6.25%, 7/01/17 (e)

 

 

520

 

 

537,883

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB
(concluded):

 

 

 

 

 

 

 

Atlantic City Medical System,
5.75%, 7/01/25

 

$

520

 

$

525,845

 

Barnabas Health, Series A,
5.63%, 7/01/32 (f)

 

 

1,090

 

 

1,086,610

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB:

 

 

 

 

 

 

 

Barnabas Health, Series A,
5.63%, 7/01/37 (f)

 

 

3,030

 

 

3,007,366

 

CAB, St. Barnabas Health,
Series B, 5.89%, 7/01/30 (b)

 

 

2,000

 

 

610,280

 

CAB, St. Barnabas Health,
Series B, 5.67%, 7/01/36 (b)

 

 

500

 

 

99,435

 

CAB, St. Barnabas Health,
Series B, 5.17%, 7/01/37 (b)

 

 

13,250

 

 

2,462,512

 

Capital Health System
Obligation Group, Series A,
5.75%, 7/01/23

 

 

1,650

 

 

1,782,347

 

Meridian Health System Obligation
Group (AGM), 5.38%, 7/01/24

 

 

2,250

 

 

2,252,475

 

Robert Wood Johnson, 5.00%,
7/01/31

 

 

1,000

 

 

1,024,180

 

South Jersey Hospital, 5.00%,
7/01/46

 

 

1,650

 

 

1,604,609

 

St. Barnabas Health Care
System, Series A, 5.00%,
7/01/29

 

 

4,155

 

 

3,962,416

 

 

 

 

 

 

 

42,863,849

 

Housing — 13.4%

 

 

 

 

 

 

 

New Jersey State Housing & Mortgage
Finance Agency, RB:

 

 

 

 

 

 

 

Capital Fund Program, Series A
(AGM), 4.70%, 11/01/25

 

 

5,105

 

 

5,235,382

 

Home Buyer, Series CC, AMT
(NPFGC), 5.80%, 10/01/20

 

 

4,515

 

 

4,649,276

 

S/F Housing Series CC,
5.00%, 10/01/34

 

 

3,455

 

 

3,519,125

 

S/F Housing, Series U, AMT,
4.95%, 10/01/32

 

 

700

 

 

703,339

 

S/F Housing, Series U, AMT,
5.00%, 10/01/37

 

 

1,000

 

 

1,003,160

 

S/F Housing, Series X, AMT,
4.85%, 4/01/16

 

 

3,605

 

 

3,690,366

 

S/F Housing, Series X, AMT,
5.05%, 4/01/18

 

 

600

 

 

629,916

 

Series A, 4.75%, 11/01/29

 

 

2,305

 

 

2,333,628

 

Series A, 6.50%, 10/01/38

 

 

1,365

 

 

1,481,011

 

Series A, AMT (FGIC), 4.90%,
11/01/35

 

 

1,365

 

 

1,340,430

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

OCTOBER 31, 2011

2


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Housing (concluded)

 

 

 

 

 

 

 

New Jersey State Housing & Mortgage
Finance Agency, Refunding RB, S/F
Housing, Series T, AMT, 4.65%,
10/01/32

 

$

4,945

 

$

4,855,248

 

 

 

 

 

 

 

29,440,881

 

Other — 1.3%

 

 

 

 

 

 

 

Newark Housing Authority, Refunding
RB, Redevelopment Project (NPFGC),
4.38%, 1/01/37

 

 

2,875

 

 

2,829,977

 

State — 27.6%

 

 

 

 

 

 

 

Garden State Preservation Trust, RB
(AGM):

 

 

 

 

 

 

 

CAB, Series B, 5.12%,
11/01/23 (b)

 

 

6,860

 

 

4,166,833

 

Election of 2005, Series A,
5.80%, 11/01/22

 

 

4,300

 

 

4,966,715

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

Department Of Human
Services Pooled, 5.00%,
7/01/12

 

 

220

 

 

225,059

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/24

 

 

1,415

 

 

1,558,976

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/25

 

 

2,000

 

 

2,183,860

 

Motor Vehicle Surcharge, Series A
(NPFGC), 5.25%, 7/01/33

 

 

14,000

 

 

14,496,580

 

School Facilities Construction,
Series L (AGM), 5.00%, 3/01/30

 

 

5,800

 

 

5,914,028

 

School Facilities Construction,
Series P, 5.00%, 9/01/15

 

 

3,000

 

 

3,331,620

 

School Facilities Construction,
Series P, 5.25%, 9/01/16

 

 

2,710

 

 

3,059,048

 

School Facilities Construction,
Series Z (AGC), 5.50%, 12/15/34

 

 

3,665

 

 

3,920,560

 

New Jersey EDA, Refunding RB:

 

 

 

 

 

 

 

New Jersey American Water
Co. Inc. Project, Series B, AMT,
5.60%, 11/01/34

 

 

2,430

 

 

2,571,329

 

School Facilities Construction,
Series AA, 5.50%, 12/15/29

 

 

3,300

 

 

3,557,103

 

New Jersey Transportation Trust Fund
Authority, RB, CAB, Series C (AMBAC),
5.05%, 12/15/35 (b)

 

 

4,140

 

 

959,900

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
CAB, Series A (AGC), 5.63%,
12/15/28

 

 

1,250

 

 

1,369,888

 

New Jersey Transportation Trust Fund
Authority, Refunding RB,
Transportation System, Series B
(NPFGC), 5.50%, 12/15/21

 

 

5,865

 

 

6,805,746

 

State of New Jersey, COP, Equipment
Lease Purchase, Series A, 5.25%,
6/15/28

 

 

1,100

 

 

1,147,630

 

 

 

 

 

 

 

60,234,875

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Tobacco — 1.0%

 

 

 

 

 

 

 

Tobacco Settlement Financing
Corporation of New Jersey, Asset-
Backed Revenue Refunding Bonds,
Series 1A, 5.00%, 6/01/29

 

$

2,900

 

$

2,174,971

 

Transportation — 25.5%

 

 

 

 

 

 

 

Delaware River Port Authority, RB:

 

 

 

 

 

 

 

Port District Project, Series B (AGM),
5.70%, 1/01/22

 

 

1,000

 

 

1,001,850

 

Series D, 5.00%, 1/01/40

 

 

1,535

 

 

1,580,528

 

New Jersey State Turnpike Authority,
RB:

 

 

 

 

 

 

 

Growth & Income Securities, Series
B (AMBAC), 5.15%, 1/01/15 (a)

 

 

4,870

 

 

4,224,725

 

Series E, 5.25%, 1/01/40

 

 

5,475

 

 

5,764,956

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
Series A:

 

 

 

 

 

 

 

6.00%, 6/15/35

 

 

5,455

 

 

6,262,613

 

5.88%, 12/15/38

 

 

3,650

 

 

4,025,147

 

6.00%, 12/15/38

 

 

1,950

 

 

2,167,835

 

5.50%, 6/15/41

 

 

2,390

 

 

2,580,674

 

(AGC), 5.50%, 12/15/38

 

 

1,000

 

 

1,068,470

 

New Jersey Transportation Trust Fund
Authority, Refunding RB,
Transportation System, Series B
(AMBAC), 5.25%, 12/15/23

 

 

5,000

 

 

5,674,850

 

Port Authority of New York & New
Jersey, RB:

 

 

 

 

 

 

 

Consolidated, 93rd Series,
6.13%, 6/01/94

 

 

5,000

 

 

5,874,100

 

JFK International Air Terminal,
6.00%, 12/01/42

 

 

2,700

 

 

2,823,444

 

Port Authority of New York & New
Jersey, Refunding RB, Consolidated
152nd Series, AMT, 5.75%,
11/01/30

 

 

3,300

 

 

3,631,320

 

South Jersey Port Corp., RB:

 

 

 

 

 

 

 

4.75%, 1/01/18

 

 

4,280

 

 

4,372,020

 

4.85%, 1/01/19

 

 

2,485

 

 

2,534,352

 

5.00%, 1/01/20

 

 

2,000

 

 

2,036,900

 

 

 

 

 

 

 

55,623,784

 

Utilities — 4.3%

 

 

 

 

 

 

 

New Jersey EDA, Refunding RB, United
Water of New Jersey Inc., Series B
(AMBAC), 4.50%, 11/01/25

 

 

4,500

 

 

4,630,275

 

Rahway Valley Sewerage Authority, RB,
CAB, Series A (NPFGC), 4.87%,
9/01/31 (b)

 

 

6,000

 

 

1,926,060

 

Union County Utilities Authority,
Refunding RB, Senior Lease, Ogden
Martin, Series A, AMT (AMBAC):

 

 

 

 

 

 

 

5.38%, 6/01/17

 

 

1,585

 

 

1,587,235

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

OCTOBER 31, 2011

3


 

 

Schedule of Investments (continued)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

 

(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

Utilities (concluded)

 

 

 

 

 

 

 

Union County Utilities Authority,
Refunding RB, Senior Lease, Ogden
Martin, Series A, AMT (AMBAC)
(concluded):

 

 

 

 

 

 

 

5.38%, 6/01/18

 

$

1,175

 

$

1,176,375

 

 

 

 

 

 

 

9,319,945

 

Total Municipal Bonds in New Jersey

 

 

 

 

 

281,214,792

 

 

 

 

 

 

 

 

 

Puerto Rico — 8.9%

 

 

 

 

 

 

 

County/City/Special District/School District — 6.5%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
RB, First Sub-Series A:

 

 

 

 

 

 

 

5.75%, 8/01/37

 

 

6,000

 

 

6,289,620

 

6.00%, 8/01/42

 

 

4,000

 

 

4,312,640

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, First Sub-Series C,
6.00%, 8/01/39

 

 

3,320

 

 

3,606,582

 

 

 

 

 

 

 

14,208,842

 

Transportation — 1.9%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB:

 

 

 

 

 

 

 

Series AA1, 4.95%, 7/01/26

 

 

1,000

 

 

1,024,511

 

Series CC (AGM), 5.50%, 7/01/30

 

 

2,000

 

 

2,173,780

 

Series CC (AGC), 5.50%, 7/01/31

 

 

895

 

 

965,768

 

 

 

 

 

 

 

4,164,059

 

Utilities — 0.5%

 

 

 

 

 

 

 

Puerto Rico Electric Power Authority,
RB, Series WW, 5.50%, 7/01/38

 

 

1,000

 

 

1,020,590

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

19,393,491

 

 

 

 

 

 

 

 

 

US Virgin Islands — 1.5%

 

 

 

 

 

 

 

Corporate — 1.5%

 

 

 

 

 

 

 

United States Virgin Islands,
Government Refinery Facility, RB,
Senior Secured, Hovensa Coker
Project, 6.50%, 7/01/21

 

 

3,500

 

 

3,341,555

 

Total Municipal Bonds in the US Virgin Islands

 

 

 

 

 

3,341,555

 

Total Municipal Bonds – 139.1%

 

 

 

 

 

303,949,838

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (g)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

New Jersey — 8.7%

 

 

 

 

 

 

 

Education — 1.8%

 

 

 

 

 

 

 

New Jersey EDA, RB, School Facilities
Construction, Series Z (AGC), 6.00%,
12/15/34

 

 

3,600

 

 

3,964,896

 

 

 

 

 

 

 

 

 

Municipal Bonds Transferred to Tender
Option Bond (TOB) Trusts (g)

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

State — 3.1%

 

 

 

 

 

 

 

Garden State Preservation Trust, RB,
Election of 2005, Series A (AGM),
5.75%, 11/01/28

 

$

5,460

 

$

6,782,685

 

Transportation — 3.8%

 

 

 

 

 

 

 

New Jersey Transportation Trust Fund
Authority, RB, Transportation System,
Series A (AGM), 5.00%, 12/15/32

 

 

4,100

 

 

4,270,765

 

Port Authority of New York & New
Jersey, Refunding RB, Consolidated,
152nd Series, AMT, 5.25%,
11/01/35

 

 

3,764

 

 

3,949,429

 

 

 

 

 

 

 

8,220,194

 

Total Municipal Bonds Transferred to
Tender Option Bond (TOB) Trusts –
8.7%

 

 

 

 

 

18,967,775

 

Total Long-Term Investments
(Cost – $311,970,388) – 147.8%

 

 

 

 

 

322,917,613

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

 

 

 

BIF New Jersey Municipal Money
Fund, 0.00% (h)(i)

 

 

8,099,091

 

 

8,099,091

 

Total Short-Term Investments
(Cost - $8,099,091) – 3.7%

 

 

 

 

 

8,099,091

 

 

 

 

 

 

Total Investments
(Cost - $320,069,479*) – 151.5%

 

 

331,016,704

 

Other Assets Less Liabilities – 0.1%

 

 

74,060

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (4.8)%

 

 

(10,462,586

)

VRDP Shares, at Liquidation Value – (46.8)%

 

 

(102,200,000

)

Net Assets Applicable to Common Shares – 100.0%

 

$

218,428,178

 

 

 

*

The cost and unrealized appreciation (depreciation) of investments as of October 31, 2011, as computed for federal income tax purposes, were as follows:

 

 

 

 

 

Aggregate cost

 

$

309,754,706

 

Gross unrealized appreciation

 

$

14,612,899

 

Gross unrealized depreciation

 

 

(3,804,602

)

Net unrealized appreciation

 

$

10,808,297

 

 

 

(a)

Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following periods. Rate shown is as of report date.

 

(b)

Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

(c)

Issuer filed for bankruptcy and/or is in default of interest payments.

 

(d)

Non-income producing security.

 

(e)

US 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.


 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

OCTOBER 31, 2011

4


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)


 

 

(f)

When-issued security. Unsettled when-issued transactions were as follows:

 

 

 

 

 

 

 

 

 

 

Counterparty

 

 

Value

 

 

Unrealized
Appreciation

 

 

JPMorgan Chase

 

$

4,093,976

 

$

34,639

 

 

 

(g)

Securities represent bonds transferred to a TOB in exchange for which the Fund acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

(h)

Investments in companies considered to be an affiliate of the Fund during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:


 

 

 

 

 

 

 

 

 

 

 

Affiliate

 

Shares
Held at
July 31,
2011

 

Net
Activity

 

Shares
Held at
October 31,
2011

 

Income

 

BIF New Jersey
Municipal
Money Fund

 

13,176,800

 

(5,077,709)

 

8,099,091

 

$

62

 

 

 

(i)

Represents the current yield as of report date.


 

 

 

•

For Fund compliance purposes, the Fund’s sector classifications refer to any 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 Fund management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

 

 

•

Fair Value Measurements - Various inputs are used in determining the fair value of investments. These inputs are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

 

 

 

•

Level 1 — unadjusted price quotations in active markets/exchanges for identical assets and liabilities

 

 

 

 

•

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)

 

 

 

 

•

Level 3 — unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments)

Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The categorization of a value determined for investments is based on the pricing transparency of the investment and does not necessarily correspond to the Fund’s perceived risk of 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, 2011 in determining the fair valuation of the Fund’s investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-Term
Investments1

 

 

—

 

$

322,917,613

 

 

—

 

$

322,917,613

 

Short-Term
Securities

 

$

8,099,091

 

 

—

 

 

—

 

 

8,099,091

 

Total

 

$

8,099,091

 

$

322,917,613

 

 

—

 

$

331,016,704

 

 

 

1

See above Schedule of Investments for values in each sector.


 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

OCTOBER 31, 2011

5

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 MuniYield New Jersey Fund, Inc.

 

 

 

 By: /s/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniYield New Jersey Fund, Inc.

 

 

 

Date: December 21, 2011

 

 

 

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/ John M. Perlowski

 

 

 

John M. Perlowski

 

 

Chief Executive Officer (principal executive officer) of

 

 

BlackRock MuniYield New Jersey Fund, Inc.

 

 

 

Date: December 21, 2011

 

 

 

 By: /s/ Neal J. Andrews

 

 

 

Neal J. Andrews

 

 

Chief Financial Officer (principal financial officer) of

 

 

BlackRock MuniYield New Jersey Fund, Inc.

 

 

 

 

Date: December 21, 2011