UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number

 

811-21229

Eaton Vance Insured New Jersey
Municipal Bond Fund

(Exact Name of Registrant as Specified in Charter)

The Eaton Vance Building,
255 State Street, Boston, Massachusetts

 

02109

(Address of Principal Executive Offices)

 

(Zip code)

Alan R. Dynner, Esq.
Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and Address of Agent for Services)

Registrant’s Telephone Number, Including Area Code:

 

(617) 482-8260

Date of Fiscal Year End:

 

September 30

Date of Reporting Period:

 

June 30, 2006

 

 



Item 1. Schedule of Investments



Eaton Vance Insured New Jersey Municipal Bond Fund                                                                as of June 30, 2006

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 158.7%

Principal

 

 

 

 

 

Amount

 

 

 

 

 

(000’s omitted)

 

Security

 

Value

 

Hospital — 8.6%

 

 

 

$

100

 

Camden County Improvement Authority, (Cooper Health), 5.00%, 2/15/25

 

$

99,085

 

180

 

Camden County Improvement Authority, (Cooper Health), 5.00%, 2/15/35

 

176,074

 

150

 

Camden County Improvement Authority, (Cooper Health), 5.25%, 2/15/27

 

152,224

 

1,300

 

Camden County Improvement Authority, (Cooper Health), 5.75%, 2/15/34

 

1,355,029

 

610

 

New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.375%, 7/1/33

 

620,132

 

575

 

New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.75%, 7/1/23

 

602,634

 

250

 

New Jersey Health Care Facilities Financing Authority, (Hunterdon Medical Center), 5.125%, 7/1/35

 

249,437

 

 

 

 

 

$

3,254,615

 

Insured-Escrowed / Prerefunded — 4.8%

 

 

 

1,550

 

Puerto Rico, (FGIC), Prerefunded to 7/1/12, Variable Rate, 6.613%, 7/1/32 (1)(2)

 

1,812,493

 

 

 

 

 

$

1,812,493

 

Insured-General Obligations — 26.6%

 

 

 

2,260

 

Bayonne, (FSA), 0.00%, 7/1/22

 

1,046,086

 

2,415

 

Bayonne, (FSA), 0.00%, 7/1/23

 

1,065,643

 

1,500

 

Bordentown Regional School District Board of Education, (FGIC), 5.00%, 1/15/30 (3)

 

1,533,525

 

5,500

 

Irvington Township, (FSA), 0.00%, 7/15/26

 

2,076,415

 

3,060

 

Jackson Township School District, (MBIA), 2.50%, 6/15/27

 

2,173,518

 

1,250

 

Jersey City, (FSA), 5.25%, 9/1/23

 

1,318,263

 

530

 

Madison Boro Board of Education, (MBIA), 4.75%, 7/15/35

 

524,631

 

350

 

Monroe Township Board of Education Middlesex County, (MBIA), 4.50%, 4/1/33

 

335,013

 

 

 

 

 

$

10,073,094

 

Insured-Hospital — 9.8%

 

 

 

2,750

 

New Jersey Health Care Facilities, (Englewood Hospital), (MBIA), 5.00%, 8/1/31

 

2,790,948

 

900

 

New Jersey Health Care Facilities, (Jersey City Medical Center), (AMBAC), 5.00%, 8/1/41

 

907,920

 

 

 

 

 

$

3,698,868

 

1



 

 

 

Insured-Lease Revenue / Certificates of Participation — 14.9%

 

 

 

$

530

 

Gloucester County Improvements Authority, (MBIA), 4.75%, 9/1/30

 

$

528,834

 

2,670

 

Lafayette Yard, Community Development Corporation, (Hotel and Conference Center), (FGIC), 5.00%, 4/1/35

 

2,698,462

 

1,250

 

Middlesex County, (MBIA), 5.00%, 8/1/31

 

1,264,763

 

1,000

 

Puerto Rico Public Building Authority, (CIFG), Variable Rate, 7.365%, 7/1/36 (1)(2)

 

1,174,740

 

 

 

 

 

$

5,666,799

 

Insured-Pooled Loans — 2.7%

 

 

 

950

 

Puerto Rico Municipal Finance Agency, (FSA), Variable Rate, 6.615%, 8/1/27 (1)(2)

 

1,008,292

 

 

 

 

 

$

1,008,292

 

Insured-Private Education — 4.6%

 

 

 

1,000

 

New Jersey Educational Facilities Authority, (Kean University), (FGIC), 5.00%, 7/1/28

 

1,022,210

 

750

 

New Jersey Educational Facilities Authority, (Kean University), (MBIA), 4.50%, 7/1/37

 

707,550

 

 

 

 

 

$

1,729,760

 

Insured-Public Education — 20.6%

 

 

 

1,200

 

New Jersey EDA, (School Facilities), (FGIC), 5.00%, 7/1/33

 

1,220,208

 

1,500

 

New Jersey Educational Facilities Authority, (Rowan University), (FGIC), 5.125%, 7/1/30

 

1,544,430

 

4,490

 

University of New Jersey Medicine and Dentistry, (AMBAC), 5.00%, 4/15/32

 

4,577,420

 

475

 

University of New Jersey Medicine and Dentistry, Certificates of Participation, (MBIA), 5.00%, 6/15/36

 

482,310

 

 

 

 

 

$

7,824,368

 

Insured-Sewer Revenue — 4.3%

 

 

 

1,150

 

Passaic Valley Sewer Commissioners, (FGIC), 2.50%, 12/1/32

 

766,395

 

2,500

 

Rahway Valley, Sewerage Authority, (MBIA), 0.00%, 9/1/27

 

874,300

 

 

 

 

 

$

1,640,695

 

Insured-Special Tax Revenue — 13.4%

 

 

 

10,000

 

Garden State New Jersey Preservation Trust, (FSA), 0.00%, 11/1/28

 

3,354,900

 

1,555

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/28

 

531,390

 

890

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/37

 

189,730

 

6,500

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/43

 

1,023,360

 

 

 

 

 

$

5,099,380

 

2



 

 

 

Insured-Transportation — 25.1%

 

 

 

$

6,155

 

New Jersey Transportation Trust Fund Authority, (AMBAC), 0.00%, 12/15/36

 

$

1,344,252

 

600

 

New Jersey Turnpike Authority, (FSA), 5.25%, 1/1/30

 

653,394

 

800

 

Newark Housing Authority, (Newark Marine Terminal), (MBIA), 5.00%, 1/1/23

 

819,856

 

1,500

 

Newark Housing Authority, (Newark Marine Terminal), (MBIA), 5.00%, 1/1/37

 

1,525,800

 

1,290

 

Port Authority of New York and New Jersey, (FSA), Variable Rate, 6.57%, 11/1/27 (1)(2)

 

1,391,923

 

1,000

 

Puerto Rico Highway and Transportation Authority, (MBIA), 5.00%, 7/1/33

 

1,021,010

 

770

 

South Jersey Transportation Authority, (FGIC), 4.50%, 11/1/35

 

734,380

 

2,000

 

South Jersey Transportation Authority, (FGIC), 5.00%, 11/1/33

 

2,044,320

 

 

 

 

 

$

9,534,935

 

Insured-Water and Sewer — 4.9%

 

 

 

4,500

 

Middlesex County Improvements Authority Utilities System, (Perth Amboy), (AMBAC), 0.00%, 9/1/24

 

1,877,265

 

 

 

 

 

$

1,877,265

 

Private Education — 3.4%

 

 

 

1,250

 

New Jersey Educational Facilities Authority, (Stevens Institute of Technology), 5.25%, 7/1/32

 

1,271,588

 

 

 

 

 

$

1,271,588

 

Senior Living / Life Care — 1.6%

 

 

 

600

 

New Jersey EDA, (Fellowship Village), 5.50%, 1/1/25

 

601,794

 

 

 

 

 

$

601,794

 

Special Tax Revenue — 5.2%

 

 

 

150

 

New Jersey EDA, (Cigarette Tax), 5.50%, 6/15/24

 

155,193

 

500

 

New Jersey EDA, (Cigarette Tax), 5.50%, 6/15/31

 

515,440

 

500

 

New Jersey EDA, (Cigarette Tax), 5.75%, 6/15/29

 

526,910

 

750

 

New Jersey EDA, (Cigarette Tax), 5.75%, 6/15/34

 

785,340

 

 

 

 

 

$

1,982,883

 

Transportation — 8.2%

 

 

 

1,250

 

Port Authority of New York and New Jersey, 5.00%, 9/1/38

 

1,265,975

 

1,825

 

South Jersey Port Authority, (Marine Terminal), 5.10%, 1/1/33

 

1,853,744

 

 

 

 

 

$

3,119,719

 

Total Tax-Exempt Investments — 158.7%
(identified cost $58,731,889)

 

$

60,196,548

 

Other Assets, Less Liabilities — 0.7%

 

$

248,786

 

Auction Preferred Shares Plus Cumulative Unpaid Dividends — (59.4)%

 

$

(22,510,789

)

Net Assets Applicable to Common Shares — 100.0%

 

$

37,934,545

 

 

3



 

 

 

AMBAC

—

AMBAC Financial Group, Inc.

CIFG

—

CDC IXIS Financial Guaranty North America, Inc.

FGIC

—

Financial Guaranty Insurance Company

FSA

—

Financial Security Assurance, Inc.

MBIA

—

Municipal Bond Insurance Association

 

The Fund invests primarily in debt securities issued by New Jersey municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at June 30, 2006, 83.0% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 2.0% to 22.2% of total investments.

(1)

Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At June 30, 2006, the aggregate value of the securities is $5,387,448 or 14.2% of the Fund’s net assets applicable to common shares.

(2)

Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at June 30, 2006.

(3)

Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

 

A summary of financial instruments at June 30, 2006 is as follows:

Futures Contracts

Expiration

 

 

 

 

 

Aggregate

 

 

 

Net
Unrealized

 

Date(s)

 

Contracts

 

Position

 

Cost

 

Value

 

Depreciation

 

9/06

 

100 U.S. Treasury Bond

 

 

Short

 

 

$

(10,654,263

)

$

(10,665,625

)

 

$

(11,362

)

 

 

At June 30, 2006, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

The cost and unrealized appreciation (depreciation) in value of the investments owned at June 30, 2006, as computed on a federal income tax basis, were as follows:

Aggregate cost

 

$

58,731,049

 

Gross unrealized appreciation

 

$

1,803,835

 

Gross unrealized depreciation

 

(338,336

)

Net unrealized appreciation

 

$

1,465,499

 

 

4



Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.



Signatures

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.

Eaton Vance Insured New Jersey Municipal Bond Fund

By:

 

/s/ Robert B. MacIntosh

 

 

Robert B. MacIntosh

 

 

President and Principal Executive Officer

Date:

 

August 28, 2006

 

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/ Robert B. MacIntosh

 

 

Robert B. MacIntosh

 

 

President and Principal Executive Officer

Date:

 

August 28, 2006

By:

 

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

 

Treasurer and Principal Financial Officer

Date:

 

August 28, 2006