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: 04/30/2012

 

Item 1 – Schedule of Investments

 

 

 

 

 

Schedule of Investments April 30, 2012 (Unaudited)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey — 121.7%

 

 

 

 

 

 

 

Corporate — 4.6%

 

 

 

 

 

 

 

New Jersey EDA, Refunding RB, AMT:

 

 

 

 

 

 

 

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

 

$

2,925

 

$

3,212,264

 

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

 

 

2,430

 

 

2,709,863

 

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

 

 

4,550

 

 

4,911,498

 

 

 

 

 

 

 

10,833,625

 

County/City/Special District/School District — 19.0%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.00%, 1/15/26

 

 

1,200

 

 

1,371,708

 

5.00%, 1/15/27

 

 

845

 

 

957,022

 

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

 

 

 

 

 

 

 

0.00%, 7/01/33

 

 

1,575

 

 

1,638,409

 

0.00%, 7/01/34

 

 

1,925

 

 

1,996,995

 

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

 

 

1,500

 

 

1,740,495

 

Essex County Improvement Authority,
RB, Newark Project, Series A (AGM),
6.00%, 11/01/30

 

 

545

 

 

618,706

 

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

 

 

 

 

 

 

 

5.50%, 10/01/28

 

 

2,700

 

 

3,397,140

 

5.50%, 10/01/29

 

 

5,085

 

 

6,410,507

 

Garden State Preservation Trust, RB,
Capital Appreciation, Series A (AGM),
5.25%, 11/01/28 (b)

 

 

4,540

 

 

2,443,246

 

Gloucester County Improvement
Authority, RB, Cnty Gtd Ln Cnty Cap
Prog, 5.00%, 4/01/38

 

 

1,000

 

 

1,081,210

 

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

 

 

4,800

 

 

5,291,952

 

Middlesex County Improvement
Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,455

 

 

1,580,916

 

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

 

 

655

 

 

402,537

 

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

 

 

 

 

 

 

 

5.00%, 12/01/15

 

 

5

 

 

5,011

 

5.00%, 12/01/16

 

 

5

 

 

5,011

 

New Jersey Economic Development
Authority, Refunding RB:

 

 

 

 

 

 

 

5.25%, 9/01/26

 

 

7,000

 

 

8,009,680

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

New Jersey Economic Development
Authority, Refunding RB (concluded):

 

 

 

 

 

 

 

5.00%, 6/15/28

 

$

720

 

$

773,842

 

5.00%, 6/15/29

 

 

1,760

 

 

1,882,566

 

Newark Housing Authority, RB, South
Ward Police Facility (AGC), 6.75%,
12/01/38

 

 

1,750

 

 

2,170,105

 

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

 

 

2,875

 

 

2,565,592

 

 

 

 

 

 

 

44,342,650

 

Education — 18.9%

 

 

 

 

 

 

 

New Jersey EDA, RB, School Facilities
Construction, Series CC-2:

 

 

 

 

 

 

 

5.00%, 12/15/31

 

 

1,700

 

 

1,876,392

 

5.00%, 12/15/32

 

 

1,300

 

 

1,429,090

 

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

 

 

3,000

 

 

3,432,720

 

New Jersey Educational Facilities
Authority, RB:

 

 

 

 

 

 

 

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

 

 

1,000

 

 

1,042,140

 

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

 

 

4,500

 

 

4,991,625

 

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

 

 

1,140

 

 

1,233,993

 

Rider Univ Series A, 5.00%,
7/01/32

 

 

1,000

 

 

1,062,650

 

Rider University, Series A,
(Radian), 5.25%,
7/01/14 (c)

 

 

1,450

 

 

1,601,743

 

Rider University, Series C,
(Radian), 5.00%,
7/01/12 (c)

 

 

1,750

 

 

1,751,768

 

New Jersey Educational Facilities
Authority, Refunding RB:

 

 

 

 

 

 

 

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

 

 

6,115

 

 

6,588,056

 

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

 

 

1,250

 

 

1,363,600

 

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

 

 

1,800

 

 

2,007,216

 

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

 

 

1,300

 

 

1,602,055

 

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

 

 

1,625

 

 

1,970,621

 

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

 

 

4,045

 

 

4,468,188

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

APRIL 30, 2012

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 Student
Assistance Authority, Refunding RB,
Series 1A:

 

 

 

 

 

 

 

5.00%, 12/01/25

 

$

1,035

 

$

1,118,494

 

5.00%, 12/01/26

 

 

645

 

 

693,510

 

5.25%, 12/01/32

 

 

900

 

 

972,954

 

New Jersey Institute of Technology NJ,
GO, Series A, 5.00%, 7/01/42

 

 

4,320

 

 

4,765,176

 

 

 

 

 

 

 

43,971,991

 

Health — 15.0%

 

 

 

 

 

 

 

New Jersey EDA, RB, Masonic Charity
Foundation of New Jersey:

 

 

 

 

 

 

 

5.25%, 6/01/24

 

 

1,425

 

 

1,471,612

 

5.25%, 6/01/32

 

 

685

 

 

703,392

 

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

 

 

 

 

 

 

 

5.75%, 11/01/24

 

 

2,500

 

 

2,564,575

 

5.80%, 11/01/31

 

 

1,000

 

 

1,021,050

 

New Jersey Health Care Facilities
Financing Authority, RB:

 

 

 

 

 

 

 

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

 

 

2,435

 

 

2,850,460

 

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

 

 

1,540

 

 

1,563,100

 

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

 

 

2,300

 

 

2,459,942

 

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

 

 

1,950

 

 

1,994,246

 

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

 

 

985

 

 

1,033,935

 

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

 

 

1,845

 

 

18

 

Refunding Meridian Health
System Obligation, 5.00%,
7/01/23

 

 

500

 

 

569,890

 

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

 

 

385

 

 

393,836

 

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

 

 

2,500

 

 

2,721,850

 

New Jersey Health Care Facilities
Financing Authority, Refunding RB:

 

 

 

 

 

 

 

Atlantic City Medical Center,
6.25%, 7/01/17

 

 

520

 

 

545,397

 

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

 

 

520

 

 

522,392

 

Barnabas Health, Series A,
5.63%, 7/01/32

 

 

1,090

 

 

1,167,684

 

Barnabas Health, Series A,
5.63%, 7/01/37

 

 

3,030

 

 

3,201,922

 

Meridian Health System,
5.00%, 7/01/27

 

 

1,000

 

 

1,100,390

 

Meridian Health System
Obligation, 5.00%, 7/01/25

 

 

1,000

 

 

1,107,950

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (continued)

 

 

 

 

 

 

 

Health (concluded)

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

Meridian Health System
Obligation, 5.00%, 7/01/26

 

$

830

 

$

908,916

 

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

 

 

1,000

 

 

1,077,070

 

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

 

 

1,650

 

 

1,680,888

 

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

 

 

4,155

 

 

4,213,419

 

 

 

 

 

 

 

34,873,934

 

Housing — 8.1%

 

 

 

 

 

 

 

New Jersey State Housing & Mortgage
Finance Agency, RB:

 

 

 

 

 

 

 

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

 

 

3,385

 

 

3,548,123

 

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

 

 

695

 

 

713,946

 

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

 

 

995

 

 

1,017,139

 

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

 

 

2,700

 

 

2,793,420

 

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

 

 

550

 

 

594,555

 

Series A, 4.75%, 11/01/29

 

 

2,305

 

 

2,425,252

 

Series A, 6.50%, 10/01/38

 

 

1,250

 

 

1,341,150

 

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

 

 

1,365

 

 

1,367,061

 

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

 

 

4,945

 

 

5,027,878

 

 

 

 

 

 

 

18,828,524

 

State — 22.6%

 

 

 

 

 

 

 

Garden State Preservation Trust, RB
(AGM):

 

 

 

 

 

 

 

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

 

 

1,860

 

 

1,309,682

 

Election of 2005, Series A,
5.80%, 11/01/15 (c)

 

 

4,300

 

 

5,059,638

 

New Jersey EDA, RB:

 

 

 

 

 

 

 

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

 

 

202

 

 

203,247

 

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

 

 

1,415

 

 

1,683,383

 

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

 

 

2,000

 

 

2,378,340

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

APRIL 30, 2012

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)

 

 

 

 

 

 

 

State (concluded)

 

 

 

 

 

 

 

New Jersey EDA, RB (concluded):

 

 

 

 

 

 

 

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

 

$

12,500

 

$

13,431,250

 

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

 

 

5,800

 

 

6,071,034

 

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

 

 

3,000

 

 

3,393,030

 

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

 

 

2,710

 

 

3,074,495

 

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

 

 

3,665

 

 

4,085,742

 

School Facilities Construction,
Series Y, 5.00%, 9/01/33

 

 

880

 

 

947,135

 

New Jersey EDA, Refunding RB:

 

 

 

 

 

 

 

5.00%, 6/15/26

 

 

440

 

 

475,631

 

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

 

 

3,300

 

 

3,710,652

 

School Facilities Construction,
Series AA, 5.25%, 12/15/33

 

 

1,000

 

 

1,107,480

 

State of New Jersey, COP, Equipment
Lease Purchase, Series A:

 

 

 

 

 

 

 

5.25%, 6/15/27

 

 

4,200

 

 

4,676,868

 

5.25%, 6/15/28

 

 

1,100

 

 

1,216,765

 

 

 

 

 

 

 

52,824,372

 

Transportation — 28.4%

 

 

 

 

 

 

 

Delaware River Port Authority, RB,
Series D, 5.00%, 1/01/40

 

 

1,535

 

 

1,648,022

 

New Jersey State Turnpike Authority, RB:

 

 

 

 

 

 

 

Growth & Income Securities,
Series B (AMBAC), 0.00%,
1/01/15 (a)

 

 

4,870

 

 

4,421,229

 

Series E, 5.25%, 1/01/40

 

 

2,525

 

 

2,784,116

 

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

 

 

 

 

 

 

 

CAB, Series A (AGC), 5.63%,
12/15/28

 

 

1,250

 

 

1,445,775

 

CAB, Series C (AMBAC), 5.05%,
12/15/35 (b)

 

 

4,140

 

 

1,199,731

 

Series A, 6.00%, 6/15/35

 

 

6,030

 

 

7,261,386

 

Series A, 5.88%, 12/15/38

 

 

3,650

 

 

4,160,781

 

Series A, 6.00%, 12/15/38

 

 

1,950

 

 

2,239,673

 

Series A, 5.50%, 6/15/41

 

 

5,000

 

 

5,699,700

 

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

 

 

1,000

 

 

1,116,680

 

Series B, 5.25%, 6/15/36

 

 

5,000

 

 

5,587,100

 

Series B, Series B, 5.00%,
6/15/42

 

 

4,860

 

 

5,263,088

 

Port Authority of New York & New
Jersey, RB:

 

 

 

 

 

 

 

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

 

 

5,000

 

 

6,074,600

 

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

 

 

2,700

 

 

2,992,572

 

 

 

 

 

 

 

 

 

Municipal Bonds

 

Par
(000)

 

Value

 

New Jersey (concluded)

 

 

 

 

 

 

 

Transportation (concluded)

 

 

 

 

 

 

 

Port Authority of New York & New
Jersey, RB, Consolidated:

 

 

 

 

 

 

 

152nd Series, 5.75%, 11/01/30

 

$

3,300

 

$

3,809,784

 

172nd Series, 5.00%, 10/01/34

 

 

1,500

 

 

1,626,900

 

South Jersey Port Corp., RB:

 

 

 

 

 

 

 

4.75%, 1/01/18

 

 

4,280

 

 

4,354,044

 

4.85%, 1/01/19

 

 

2,485

 

 

2,526,947

 

5.00%, 1/01/20

 

 

2,000

 

 

2,032,520

 

 

 

 

 

 

 

66,244,648

 

Utilities — 5.1%

 

 

 

 

 

 

 

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

 

 

4,500

 

 

4,842,450

 

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

 

 

6,000

 

 

2,397,000

 

Union County Utilities Authority,
Refunding RB, County Deficiency
Agreement, Series A, 5.00%, 6/15/41

 

 

4,115

 

 

4,593,451

 

 

 

 

 

 

 

11,832,901

 

Total Municipal Bonds in New Jersey

 

 

 

 

 

283,752,645

 

 

 

 

 

 

 

 

 

Puerto Rico — 8.6%

 

 

 

 

 

 

 

County/City/Special District/School District — 6.4%

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

5.75%, 8/01/37

 

 

6,000

 

 

6,635,100

 

6.00%, 8/01/42

 

 

4,000

 

 

4,512,480

 

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

 

 

3,320

 

 

3,795,125

 

 

 

 

 

 

 

14,942,705

 

Transportation — 1.7%

 

 

 

 

 

 

 

Puerto Rico Highway & Transportation
Authority, Refunding RB:

 

 

 

 

 

 

 

Series AA, 4.95%, 7/01/26

 

 

590

 

 

629,548

 

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

 

 

895

 

 

1,036,768

 

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

 

 

2,000

 

 

2,322,460

 

 

 

 

 

 

 

3,988,776

 

Utilities — 0.5%

 

 

 

 

 

 

 

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

 

 

1,000

 

 

1,028,320

 

Total Municipal Bonds in Puerto Rico

 

 

 

 

 

19,959,801

 

 

Total Municipal Bonds – 130.3%

 

 

 

 

 

303,712,446

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

APRIL 30, 2012

3


 

 

 

 

Schedule of Investments (continued)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)
(Percentages shown are based on Net Assets)

 

 

 

 

 

 

 

 

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

 

Par
(000)

 

Value

 

New Jersey — 20.6%

 

 

 

 

 

 

 

Education — 2.7%

 

 

 

 

 

 

 

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

 

$

3,600

 

$

4,127,904

 

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

 

 

2,009

 

 

2,194,725

 

 

 

 

 

 

 

6,322,629

 

State — 3.1%

 

 

 

 

 

 

 

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

 

 

5,460

 

 

7,134,964

 

Transportation — 8.9%

 

 

 

 

 

 

 

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

 

 

4,100

 

 

4,542,185

 

Port Authority of New York & New
Jersey, Refunding RB, AMT:

 

 

 

 

 

 

 

Consolidated, 152nd Series,
5.25%, 11/01/35

 

 

3,764

 

 

4,073,146

 

Consolidated, 169th Series,
5.00%, 10/15/41

 

 

11,250

 

 

11,975,288

 

 

 

 

 

 

 

20,590,619

 

Utilities — 5.9%

 

 

 

 

 

 

 

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

 

 

12,820

 

 

13,830,729

 

 

 

 

 

 

 

47,878,941

 

 

 

 

 

 

 

 

 

Puerto Rico — 1.0%

 

 

 

 

 

 

 

State — 1.0%

 

 

 

 

 

 

 

Puerto Rico Sales Tax Financing Corp.,
Refunding RB, Series C, 5.25%,
8/01/40

 

 

2,220

 

 

2,429,124

 

 

Total Municipal Bonds Transferred to Tender Option
Bond (TOB) Trusts – 21.6%

 

 

 

 

 

50,308,065

 

Total Long-Term Investments
(Cost – $329,215,094) – 151.9%

 

 

 

 

 

354,020,511

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-Term Securities

 

Shares

 

Value

 

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

 

 

3,611,507

 

$

3,611,507

 

Total Short-Term Securities
(Cost – $3,611,507) – 1.5%

 

 

 

 

 

3,611,507

 

Total Investments (Cost - $332,826,601*) – 153.4%

 

 

 

 

 

357,632,018

 

Other Assets Less Liabilities – 1.9%

 

 

 

 

 

4,461,660

 

Liability for TOB Trust Certificates, Including Interest
Expense and Fees Payable – (11.5)%

 

 

 

 

 

(26,826,318

)

VRDP Shares, at Liquidation Value – (43.8)%

 

 

 

 

 

(102,200,000

)

Net Assets Applicable to Common Shares – 100.0%

 

 

 

 

$

233,067,360

 

 

 

*

As of April 30, 2012, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:


 

 

 

 

 

Tax cost

 

$

306,152,834

 

Gross unrealized appreciation

 

$

26,079,389

 

Gross unrealized depreciation

 

 

(1,412,901

)

Net unrealized appreciation

 

$

24,666,488

 

 

 

(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)

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.

 

 

(d)

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

 

 

(e)

Non-income producing security.

 

 

(f)

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.

 

 

(g)

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
April 30, 2012

 

Income

 

 

BIF New Jersey
Municipal
Money Fund

 

 

13,176,800

 

 

(9,565,293

)

 

3,611,507

 

 

—

 

 

 

(h)

Represents the current yield as of report date.


 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

APRIL 30, 2012

4


 

 

 

 

Schedule of Investments (concluded)

BlackRock MuniYield New Jersey Fund, Inc. (MYJ)

 

 

•

Financial futures contracts sold as of April 30, 2012 were as follows:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contracts

 

Issue

 

Exchange

 

Expiration

 

Notional
Value

 

Unrealized
Depreciation

 

240

 

10-Year
US
Treasury
Note

 

Chicago
Board
of Trade

 

June
2012

 

$

31,747,500

 

$

(356,706

)

 

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 Financial Guaranty

RB

Revenue Bonds

S/F

Single-Family

 

 

 

•

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 Trust 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 and derivative financial instruments. 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 and derivative financial instruments)

 

 

 

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Fund’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments and other significant accounting policies, please refer to the Fund’s most recent financial statements as contained in its semi-annual report.

 

 

 

The following tables summarize the inputs used as of April 30, 2012 in determining the fair valuation of the Fund’s investments and derivative financial instruments:


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term
Investments1

 

 

—

 

$

354,020,511

 

 

—

 

$

354,020,511

 

Short-Term
Securities

 

$

3,611,507

 

 

—

 

 

—

 

 

3,611,507

 

Total

 

$

3,611,507

 

$

354,020,511

 

 

—

 

$

357,632,018

 

 

 

1

See above Schedule of Investments for values in each sector or political subdivision.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Derivative Financial Instruments2

 

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest rate
contracts

 

$

(356,706

)

 

—

 

 

—

 

$

(356,706

)

 

 

2

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

Certain of the Fund’s assets and liabilities are held at carrying amount which approximates fair value. Such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation Inputs

 

Level 1

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash pledged
as collateral
for financial
futures
contracts

 

$

317,000

 

 

—

 

 

—

 

$

317,000

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

Bank overdraft

 

 

(8,517

)

 

—

 

 

—

 

 

(8,517

)

TOB trust
certificates

 

 

—

 

$

(26,812,696

)

 

—

 

 

(26,812,696

)

VRDP Shares

 

 

—

 

 

(102,200,000

)

 

—

 

 

(102,200,000

)

Total

 

$

308,483

 

$

(129,012,696

)

 

—

 

$

(128,704,213

)

There were no transfers between levels during the period ended April 30, 2012.

 

 

 

 

 

 

 

 

 

BLACKROCK MUNIYIELD NEW JERSEY FUND, INC.

APRIL 30, 2012

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: June 22, 2012
   
  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: June 22, 2012
   
  By: /s/ Neal J. Andrews  
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
    BlackRock MuniYield New Jersey Fund, Inc.
     
  Date: June 22, 2012