N-Q 1 dnq.htm JENNISON BLEND FUND, INC. Jennison Blend Fund, Inc.

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:

 

 

 

811-03336

 

 

Exact name of registrant as specified in charter:

 

 

 

Jennison Blend Fund, Inc.

 

 

Address of principal executive offices:   Gateway Center 3,
  100 Mulberry Street,
 

Newark, New Jersey 07102

 

 

Name and address of agent for service:   Deborah A. Docs
  Gateway Center 3,
  100 Mulberry Street,
 

Newark, New Jersey 07102

 

 

Registrant’s telephone number, including area code:

 

 

 

800-225-1852

 

 

Date of fiscal year end:

 

 

 

8/31/2009

 

 

Date of reporting period:   5/31/2009


Item 1. Schedule of Investments


Jennison Blend Fund, Inc.

Schedule of Investments

as of May 31, 2009 (Unaudited)

 

Shares

  

Description

   Value

LONG-TERM INVESTMENTS 98.8%

  

COMMON STOCKS

  

Aerospace & Defense 0.3%

  
  24,400   

AAR Corp.(a)(b)

   $ 358,680
  104,100   

Moog, Inc. “Class A”(a)

     2,487,990
  13,900   

Triumph Group, Inc.

     547,799
           
          3,394,469
           

Air Freight & Logistics 0.7%

  
  182,200   

Expeditors International of Washington, Inc.

     5,977,982
  64,000   

UTi Worldwide, Inc.(a)

     839,040
           
          6,817,022
           

Auto Components 0.4%

  
  25,100   

Fuel Systems Solutions, Inc.(a)(b)

     530,614
  291,100   

Goodyear Tire & Rubber Co. (The)(a)

     3,333,095
           
          3,863,709
           

Beverages 0.8%

  
  149,400   

PepsiCo, Inc.

     7,776,270
           

Biotechnology 2.5%

  
  72,700   

Alkermes, Inc.(a)

     591,778
  156,100   

Celgene Corp.(a)

     6,593,664
  22,100   

Cubist Pharmaceuticals, Inc.(a)(b)

     377,026
  295,298   

Gilead Sciences, Inc.(a)

     12,727,344
  134,800   

Maxygen, Inc.(a)

     955,732
  32,100   

OSI Pharmaceuticals, Inc.(a)(b)

     1,084,980
  34,400   

Seattle Genetics, Inc.(a)

     316,136
  51,400   

Vertex Pharmaceuticals, Inc.(a)(b)

     1,532,234
           
          24,178,894
           

Building Products 0.1%

  
  44,300   

Apogee Enterprises, Inc.

     545,776
           

Capital Markets 6.0%

  
  147,200   

Apollo Investment Corp.(b)

     811,072
  200,698   

Bank of New York Mellon Corp. (The)

     5,575,390
  315,700   

Charles Schwab Corp. (The)

     5,556,320
  373,200   

E*Trade Financial Corp.(a)(b)

     537,408
  152,200   

Eaton Vance Corp.

     4,124,620
  64,900   

Federated Investors, Inc.

     1,624,447
  158,900   

Goldman Sachs Group, Inc. (The)

     22,972,173
  10,700   

Investment Technology Group, Inc.(a)

     222,560
  40,700   

Knight Capital Group, Inc. “Class A”(a)

     700,447
  236,800   

Morgan Stanley(b)

     7,179,776
  52,200   

optionsXpress Holdings, Inc.

     892,098


  63,000   

Raymond James Financial, Inc.(b)

   1,001,700
  318,900   

TD Ameritrade Holding Corp.(a)

   5,434,056
  77,400   

Thomas Weisel Partners Group, Inc.(a)

   388,548
  122,100   

TradeStation Group, Inc.(a)

   1,001,220
         
        58,021,835
         

Chemicals 1.6%

  
  367,500   

Dow Chemical Co. (The)

   6,497,400
  23,300   

FMC Corp.

   1,266,355
  51,200   

International Flavors & Fragrances, Inc.

   1,633,280
  71,800   

Monsanto Co.

   5,898,370
         
        15,295,405
         

Commercial Banks 0.2%

  
  13,300   

Bank of the Ozarks, Inc.(b)

   336,357
  50,100   

Prosperity Bancshares, Inc.(b)

   1,405,806
         
        1,742,163
         

Commercial Services & Supplies 1.3%

  
  58,300   

Corrections Corp. of America(a)

   894,905
  182,400   

Knoll, Inc.

   1,264,032
  43,500   

Mobile Mini, Inc.(a)(b)

   548,535
  20,400   

Viad Corp.

   299,676
  112,200   

Waste Connections, Inc.(a)

   2,849,880
  228,000   

Waste Management, Inc.

   6,290,520
         
        12,147,548
         

Communications Equipment 5.6%

  
  195,700   

Adtran, Inc.

   4,066,646
  416,800   

Cisco Systems, Inc.(a)

   7,710,800
  233,500   

CommScope, Inc.(a)(b)

   6,127,040
  14,900   

Comtech Telecommunications Corp.(a)(b)

   434,186
  105,200   

F5 Networks, Inc.(a)(b)

   3,341,152
  76,500   

Harmonic, Inc.(a)

   442,170
  49,500   

Infinera Corp.(a)(b)

   423,720
  18,700   

Loral Space & Communications, Inc.(a)

   576,708
  448,600   

QUALCOMM, Inc.

   19,554,474
  137,300   

Research In Motion Ltd.(a)

   10,797,272
         
        53,474,168
         

Computers & Peripherals 2.6%

  
  82,316   

Apple, Inc.(a)

   11,179,336
  182,700   

Hewlett-Packard Co.

   6,275,745
  72,900   

International Business Machines Corp.

   7,747,812
         
        25,202,893
         

Construction & Engineering 0.8%

  
  202,900   

Chicago Bridge & Iron Co. NV

   2,619,439
  21,900   

EMCOR Group, Inc.(a)

   492,093
  443,200   

Great Lakes Dredge & Dock Corp.

   2,309,072
  56,300   

URS Corp.(a)

   2,706,904
         


        8,127,508
         

Consumer Finance 0.8%

  
  54,000   

Alliance Data Systems Corp.(a)(b)

   2,187,000
  878,400   

SLM Corp.(a)(b)

   5,806,224
         
        7,993,224
         

Containers & Packaging

  
  31,100   

Packaging Corp. of America

   501,332
         

Diversified Consumer Services 1.8%

  
  56,700   

Bridgepoint Education, Inc.(a)

   711,585
  299,700   

Career Education Corp.(a)

   6,017,976
  449,800   

H&R Block, Inc.

   6,567,080
  29,000   

Hillenbrand, Inc.

   497,640
  13,800   

Pre-Paid Legal Services, Inc.(a)(b)

   584,568
  167,200   

School Specialty, Inc.(a)

   3,180,144
         
        17,558,993
         

Diversified Financial Services 0.4%

  
  349,100   

Bank of America Corp.

   3,934,357
         

Diversified Telecommunication Services 0.8%

  
  20,000   

Atlantic Tele-Network, Inc.

   455,400
  259,600   

NTELOS Holdings Corp.

   4,639,052
  182,900   

tw telecom, inc.(a)

   2,169,194
         
        7,263,646
         

Electric Utilities 0.3%

  
  70,900   

American Electric Power Co., Inc.

   1,867,506
  97,700   

El Paso Electric Co.(a)

   1,293,548
         
        3,161,054
         

Electrical Equipment 0.3%

  
  46,100   

EnerSys(a)

   746,820
  126,800   

GrafTech International Ltd.(a)

   1,289,556
  27,500   

Hubbell, Inc. “Class B”

   913,275
  6,600   

Roper Industries, Inc.

   283,668
         
        3,233,319
         

Electronic Equipment & Instruments 0.8%

  
  118,700   

Anixter International, Inc.(a)(b)

   4,869,074
  28,600   

Plexus Corp.(a)(b)

   522,236
  33,800   

SYNNEX Corp.(a)

   874,744
  30,800   

Tech Data Corp.(a)

   986,216
         
        7,252,270
         

Energy Equipment & Services 2.4%

  
  12,200   

Core Laboratories NV(b)

   1,158,268
  37,400   

Dresser-Rand Group, Inc.(a)

   1,047,200


  35,600   

First Solar, Inc.(a)(b)

   6,764,000
  31,500   

Helmerich & Payne, Inc.(b)

   1,101,555
  16,200   

Lufkin Industries, Inc.

   735,156
  142,400   

National Oilwell Varco, Inc.(a)

   5,499,488
  85,200   

Newpark Resources (a)

   245,376
  45,400   

Oceaneering International, Inc.(a)

   2,334,468
  66,800   

Patterson-UTI Energy, Inc.

   957,912
  32,200   

Pride International, Inc.(a)(b)

   779,884
  13,600   

SEACOR Holdings, Inc.(a)(b)

   1,039,176
  25,500   

Tidewater, Inc.

   1,215,585
         
        22,878,068
         

Food & Staples Retailing 3.8%

  
  102,000   

Costco Wholesale Corp.(b)

   4,949,040
  286,600   

CVS Caremark Corp.

   8,540,680
  350,700   

Kroger Co. (The)

   7,995,960
  52,200   

Pricesmart, Inc.

   873,306
  30,900   

Ruddick Corp.

   777,444
  307,100   

United Natural Foods, Inc.(a)(b)

   6,980,383
  124,100   

Wal-Mart Stores, Inc.

   6,172,734
         
        36,289,547
         

Food Products 3.2%

  
  272,365   

Cadbury PLC, ADR (United Kingdom)

   9,560,012
  391,800   

ConAgra Foods, Inc.

   7,283,562
  12,300   

Corn Products International, Inc.

   324,843
  140,200   

Cosan Ltd. “Class A”(a)

   716,422
  230,500   

Dean Foods Co.(a)

   4,333,400
  23,800   

Ralcorp Holdings, Inc.(a)

   1,363,026
  5,900   

Sanderson Farms, Inc.

   257,299
  54,900   

TreeHouse Foods, Inc.(a)

   1,467,477
  425,200   

Tyson Foods, Inc. “Class A”(b)

   5,663,664
         
        30,969,705
         

Gas Utilities 0.1%

  
  17,100   

New Jersey Resources Corp.

   568,917
  21,300   

Oneok, Inc.

   624,090
         
        1,193,007
         

Healthcare Equipment & Supplies 2.5%

  
  83,300   

Alcon, Inc.

   9,038,050
  54,500   

Align Technology, Inc.(a)(b)

   644,735
  152,500   

Baxter International, Inc.

   7,806,475
  63,700   

Beckman Coulter, Inc.

   3,452,540
  22,800   

CONMED Corp.(a)

   359,100
  60,600   

CryoLife, Inc.(a)

   284,214
  76,800   

DexCom, Inc.(a)

   427,008
  17,300   

IDEXX Laboratories, Inc.(a)(b)

   724,005
  106,200   

Immucor, Inc.(a)

   1,598,310
         
        24,334,437
         


Healthcare Providers & Services 5.8%

  
  239,500   

Aetna, Inc.

   6,413,810
  120,400   

Air Methods Corp.(a)

   3,177,356
  14,800   

Amedisys, Inc.(a)(b)

   450,216
  9,300   

AMERIGROUP Corp.(a)

   268,398
  21,500   

Bio-Reference Labs, Inc.(a)(b)

   585,015
  116,700   

Centene Corp.(a)(b)

   2,121,606
  29,200   

Community Health Systems, Inc.(a)(b)

   770,588
  26,600   

Gentiva Health Services, Inc.(a)(b)

   423,738
  58,900   

Healthsouth Corp.(a)(b)

   697,376
  80,300   

Henry Schein, Inc.(a)(b)

   3,656,862
  39,400   

Kindred Healthcare, Inc.(a)

   517,322
  15,500   

LHC Group, Inc.(a)

   357,585
  31,800   

Lincare Holdings, Inc.(a)(b)

   692,604
  172,200   

Medco Health Solutions, Inc.(a)

   7,902,258
  114,600   

MWI Veterinary Supply, Inc.(a)(b)

   3,349,758
  249,400   

Omnicare, Inc.(b)

   6,741,282
  122,100   

Patterson Cos., Inc.(a)(b)

   2,514,039
  291,200   

PSS World Medical, Inc.(a)(b)

   4,679,584
  38,200   

Sun Healthcare Group, Inc.(a)

   354,114
  206,200   

Tenet Healthcare Corp.(a)

   748,506
  46,200   

Universal American Corp.(a)

   415,338
  73,800   

Universal Health Services, Inc. “Class B”

   4,053,834
  100,300   

WellPoint, Inc.(a)

   4,670,971
         
        55,562,160
         

Healthcare Technology 0.1%

  
  59,600   

HLTH Corp.(a)(b)

   702,684
         

Hotels, Restaurants & Leisure 0.8%

  
  31,000   

Bally Technologies, Inc.(a)

   868,000
  125,100   

Cheesecake Factory (The)(a)(b)

   2,140,461
  134,600   

Jack in the Box, Inc.(a)

   3,539,980
  28,700   

Red Robin Gourmet Burgers, Inc.(a)(b)

   496,510
  30,800   

Vail Resorts, Inc.(a)(b)

   846,692
         
        7,891,643
         

Household Durables 0.1%

  
  16,600   

Black & Decker Corp. (The)

   532,362
  21,700   

Centex Corp.(b)

   182,931
  17,700   

Snap-On, Inc.

   551,355
         
        1,266,648
         

Household Products 1.3%

  
  81,100   

Colgate-Palmolive Co.

   5,348,545
  141,115   

Kimberly-Clark Corp.

   7,322,457
         
        12,671,002
         

Independent Power Producers & Energy Traders 0.8%

  
  361,800   

NRG Energy, Inc.(a)

   8,140,500
         

Insurance 3.0%

  
  98,300   

Aspen Insurance Holdings Ltd.

   2,269,747
  21,900   

Axis Capital Holdings Ltd.

   522,972


  1,348   

Berkshire Hathaway, Inc. “Class B”(a)

   4,006,256
  33,200   

Citizens, Inc. (The)(a)(b)

   218,788
  24,900   

CNA Surety Corp.(a)

   377,733
  12,000   

FPIC Insurance Group, Inc.(a)

   356,880
  14,000   

HCC Insurance Holdings, Inc.

   345,660
  29,000   

Hilltop Holdings, Inc.(a)(b)

   344,810
  38,400   

Odyssey Re Holdings Corp.

   1,544,064
  46,900   

Platinum Underwriters Holdings, Ltd.

   1,352,127
  10,600   

ProAssurance Corp.(a)

   479,226
  113,900   

Protective Life Corp.

   1,407,804
  43,700   

Reinsurance Group of America, Inc.

   1,607,286
  6,800   

RLI Corp.

   318,648
  20,800   

Safety Insurance Group, Inc.

   649,168
  200,100   

StanCorp Financial Group, Inc.(b)

   6,207,102
  78,000   

The Travelers Cos., Inc.

   3,171,480
  403,300   

XL Capital Ltd. “Class A”(b)

   4,081,396
         
        29,261,147
         

Internet & Catalog Retail 1.3%

  
  161,400   

Amazon.com, Inc.(a)

   12,587,586
         

Internet Software & Services 4.2%

  
  12,600   

Baidu.com, ADR (China)(a)

   3,325,770
  102,000   

Digital River, Inc.(a)(b)

   3,889,260
  43,000   

Google, Inc. “Class A”(a)

   17,940,890
  190,200   

GSI Commerce, Inc.(a)(b)

   2,445,972
  450,400   

IAC/InterActiveCorp.(a)

   7,278,464
  177,500   

SAVVIS, Inc.(a)

   2,089,175
  267,000   

Switch & Data Facilities Co., Inc.(a)(b)

   3,511,050
         
        40,480,581
         

IT Services 2.4%

  
  32,200   

CSG Systems International, Inc.(a)

   443,394
  20,700   

DST Systems, Inc.(a)

   792,810
  37,400   

Mastercard, Inc. “Class A”(b)

   6,594,742
  19,600   

SAIC, Inc.(a)

   342,412
  57,700   

Sapient Corp.(a)

   306,387
  183,600   

Visa, Inc. “Class A”

   12,431,556
  86,400   

Wright Express Corp.(a)

   2,148,768
         
        23,060,069
         

Leisure Equipment & Products 0.1%

  
  18,600   

Polaris Industries, Inc.(b)

   590,922
         

Life Sciences Tools & Services 0.2%

  
  151,100   

Kendle International, Inc.(a)

   1,571,440
         

Machinery 1.4%

  
  68,200   

Actuant Corp.

   837,496
  77,700   

AGCO Corp.(a)

   2,242,422
  47,700   

China Fire & Security Group, Inc.(a)(b)

   581,940
  27,600   

EnPro Industries, Inc.(a)

   486,036
  134,400   

IDEX Corp.

   3,138,240
  26,400   

Nordson Corp.

   1,013,760


104,800

  

Pentair, Inc.

   2,623,144
  101,700   

RBC Bearings, Inc.(a)

   1,876,365
  25,900   

Robbins & Myers, Inc.(b)

   495,726
         
        13,295,129
         

Marine 0.1%

  
  21,300   

Kirby Corp.(a)

   716,106
         

Media 3.7%

  
  385,400   

Comcast Corp. “Class A”

   5,306,958
  330,500   

Discovery Communications, Inc. “Class A”(a)

   7,419,725
  132,900   

Interpublic Group of Cos., Inc. (The)(a)(b)

   696,396
  151,000   

John Wiley & Sons, Inc. “Class A”

   4,773,110
  379,499   

Liberty Global, Inc. “Series C”(a)(b)

   5,191,546
  410,400   

Regal Entertainment Group “Class A”(b)

   5,236,704
  274,600   

Walt Disney Co. (The)(b)

   6,650,812
         
        35,275,251
         

Metals & Mining 2.5%

  
  60,500   

Agnico-Eagle Mines Ltd.(b)

   3,742,530
  12,900   

Compass Minerals International

   691,827
  189,200   

Freeport-McMoRan Copper & Gold, Inc.

   10,298,156
  456,000   

Kinross Gold Corp.(b)

   9,220,320
         
        23,952,833
         

Multiline Retail 0.4%

  
  97,900   

Kohl’s Corp.(a)(b)

   4,157,813
         

Multi-Utilities 1.1%

  
  89,700   

Centerpoint Energy, Inc.

   907,764
  151,700   

CMS Energy Corp.

   1,720,278
  155,400   

Sempra Energy

   7,098,672
  53,600   

TECO Energy, Inc.

   601,392
         
        10,328,106
         

Oil, Gas & Consumable Fuels 12.8%

  
  53,400   

Apache Corp.

   4,499,484
  65,300   

Bill Barrett Corp.(a)

   2,222,159
  29,500   

Cabot Oil & Gas Corp.

   1,036,335
  115,900   

Canadian Natural Resources Ltd.

   6,926,184
  105,400   

Chesapeake Energy Corp.(b)

   2,388,364
  12,600   

Clayton Williams Energy, Inc.(a)

   308,952
  110,100   

Concho Resources, Inc.(a)

   3,528,705
  186,300   

Denbury Resources, Inc.(a)

   3,202,497
  130,900   

Encore Acquisition Co.(a)(b)

   4,645,641
  304,000   

Endeavour International Corp.(a)

   522,880
  84,600   

EOG Resources, Inc.(b)

   6,191,874
  22,300   

Goodrich Petroleum Corp.(a)(b)

   595,856
  55,800   

Hess Corp.

   3,715,722
  40,500   

Noble Energy, Inc.

   2,408,940
  11,700   

Nordic American Tanker Shipping(b)

   392,418
  264,900   

Occidental Petroleum Corp.

   17,777,439
  428,800   

Petroleo Brasileiro SA, ADR (Brazil)

   18,880,064


  166,800   

Southwestern Energy Co.(a)

   7,250,796
  191,400   

Suncor Energy, Inc.

   6,777,474
  281,051   

Suncor Energy, Inc. (Canada)

   9,846,760
  427,200   

Williams Cos., Inc.

   7,168,416
  301,500   

XTO Energy, Inc.

   12,895,155
         
        123,182,115
         

Paper & Forest Products 0.1%

  
  67,000   

Glatfelter(b)

   686,750
         

Personal Products

  
  51,300   

Prestige Brands Holdings, Inc.(a)

   319,599
         

Pharmaceuticals 2.9%

  
  196,500   

Abbott Laboratories

   8,854,290
  47,400   

Perrigo Co.

   1,273,164
  181,500   

Shire PLC, ADR (United Kingdom)

   7,568,550
  199,400   

Teva Pharmaceutical Industries Ltd. ADR (Israel)(b)

   9,244,184
  65,200   

Vivus, Inc.(a)

   337,084
  22,900   

Watson Pharmaceuticals, Inc.(a)(b)

   692,725
         
        27,969,997
         

Professional Services 0.7%

  
  112,400   

Administaff, Inc.

   2,416,600
  47,200   

Huron Consulting Group, Inc.(a)(b)

   2,163,176
  118,700   

Resources Connection, Inc.(a)

   2,199,511
         
        6,779,287
         

Real Estate Investment Trusts 1.1%

  
  174,800   

Ashford Hospitality Trust, Inc.

   707,940
  41,600   

Capstead Mortgage Corp.(b)

   496,288
  654,300   

Chimera Investment Corp.

   2,283,507
  23,100   

Corporate Office Properties Trust SBI(b)

   685,608
  101,000   

DiamondRock Hospitality Co.

   656,500
  10,600   

Health Care REIT, Inc.(b)

   363,050
  24,500   

Liberty Property Trust(b)

   570,360
  354,000   

MFA Financial, Inc.

   2,216,040
  21,400   

National Health Investors, Inc.

   565,602
  21,600   

National Retail Properties, Inc.

   369,576
  19,600   

Nationwide Health Properties, Inc.(b)

   520,772
  19,400   

Potlatch Corp.

   507,892
  10,300   

Rayonier, Inc.

   412,000
  15,900   

Realty Income Corp.(b)

   341,373
         
        10,696,508
         

Road & Rail 0.3%

  
  31,400   

Knight Transportation, Inc.

   557,036
  51,700   

Landstar System, Inc.

   1,964,600
         
        2,521,636
         

Semiconductors & Semiconductor Equipment 2.7%

  
  117,900   

Advanced Micro Devices, Inc.(a)(b)

   535,266


  380,600   

Applied Materials, Inc.

   4,285,556
  76,800   

Applied Micro Circuits Corp.(a)

   600,576
  76,800   

ATMI, Inc.(a)

   1,246,464
  201,300   

Cavium Networks, Inc.(a)(b)

   2,906,772
  95,100   

Cypress Semiconductor Corp.(a)

   817,860
  430,000   

Intel Corp.

   6,759,600
  122,900   

LSI Corp.(a)

   549,363
  649,000   

PMC - Sierra, Inc.(a)(b)

   4,925,910
  99,100   

Power Integrations, Inc.

   2,186,146
  29,900   

Semtech Corp.(a)

   481,091
  38,500   

Skyworks Solutions, Inc.(a)

   366,905
  574,100   

Spansion, Inc. “Class A”(a)(b)

   45,928
         
        25,707,437
         

Software 4.4%

  
  285,500   

Adobe Systems, Inc.(a)

   8,045,390
  482,100   

CA, Inc.

   8,412,645
  185,100   

Check Point Software Technologies(a)

   4,322,085
  290,300   

CommVault Systems, Inc.(a)

   3,585,205
  15,900   

Informatica Corp.(a)

   259,647
  207,000   

Oracle Corp.

   4,055,130
  180,400   

Quest Software, Inc.(a)

   2,330,768
  32,600   

Red Hat, Inc.(a)

   650,370
  572,800   

Symantec Corp.(a)(b)

   8,929,952
  48,700   

TeleCommunications Systems, Inc.(a)

   363,789
  182,000   

TiVo, Inc.(a)(b)

   1,274,000
         
        42,228,981
         

Specialty Retail 0.4%

  
  9,200   

Children’s Place Retail Stores, Inc. (The)(a)

   330,372
  36,600   

Guess?, Inc.

   945,012
  38,500   

RadioShack Corp.

   517,440
  28,500   

Ross Stores, Inc.

   1,116,060
  16,600   

Systemax, Inc.(a)(b)

   203,682
  15,500   

Tiffany & Co.(b)

   439,735
  141,100   

Wet Seal, Inc. (The)(a)

   444,465
         
        3,996,766
         

Textiles, Apparel & Luxury Goods 1.4%

  
  38,700   

Maidenform Brands, Inc.(a)

   500,004
  118,290   

Nike, Inc. “Class B”(b)

   6,748,445
  101,200   

Phillips-Van Heusen Corp.

   2,982,364
  11,600   

Unifirst Corp.

   396,140
  78,600   

Warnaco Group, Inc. (The)(a)(b)

   2,483,760
         
        13,110,713
         

Trading Companies & Distributors

  
  13,100   

GATX Corp.(b)

   329,858
         

Water Utilites 0.1%

  
  86,700   

Aqua America, Inc.(b)

   1,429,683
         


Wireless Telecommunication Services 2.5%

  
  327,400   

Centennial Communications Corp.(a)(b)

   2,753,434
  164,300   

Clearwire Corp. “Class A”(a)(b)

   731,135
  572,700   

NII Holdings, Inc.(a)

   11,717,442
  334,400   

SBA Communications Corp. “Class A”(a)(b)

   8,550,608
  37,700   

USA Mobility, Inc.

   421,486
         
        24,174,105
         
    

Total long-term investments
(cost $838,077,240)

   951,795,674
         

 

Shares

           

SHORT-TERM INVESTMENT 19.3%

  

Affiliated Money Market Mutual Fund

  
  185,669,126   

Dryden Core Investment Fund - Taxable Money Market Series
(cost $185,669,126; includes $172,628,168 of cash collateral received from securities on loan)(c)(d)

     185,669,126   
             
    

Total Investments 118.1%
(cost $1,023,746,366)(e)

     1,137,464,800   
    

Liabilities in excess of other assets (18.1%)

     (174,456,984
             
    

Net Assets 100.0%

   $ 963,007,816   
             

 

The following abbreviation is used in portfolio descriptions:

       ADR – American Depositary Receipt

(a) Non-income producing security.
(b) All or portion of securities on loan. The aggregate market value of such securities is $169,440,462; cash collateral of $172,628,168 (included in liabilities) was received with which the Fund purchased highly liquid short-term investments.
(c) Represents security, or a portion thereof, purchased with cash collateral received for securities on loan.
(d) Prudential Investments LLC, the manager of the Fund, also serves as the manager of the Dryden Core Investment Fund – Taxable Money Market Series.
(e) The United States Federal income tax basis of the Fund’s investments and the net unrealized appreciation as of May 31, 2009 were as follows:

 

Tax Basis of Investments

   Gross
Appreciation
   Gross
Depreciation
    Net Unrealized
Appreciation

$ 1,043,350,649

   $ 147,957,533    $ (53,843,382   $ 94,114,151

The difference between book and tax basis was primarily attributable to deferred losses on wash sales.

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 - quoted prices in active markets for identical securities

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 - significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)


The following is a summary of the inputs used as of May 31, 2009 in valuing the Fund’s assets carried at fair value:

 

Valuation inputs    Investments
in Securities
   Other Financial
Instruments*

Level 1 - Quoted Prices - Long

   $ 1,137,464,800    $ —  

Level 2 - Other Significant Observable Inputs

     —        —  

Level 3 - Significant Unobservable Inputs

     —        —  
             

Total

   $ 1,137,464,800    $ —  
             

 

* Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures, forwards and swap contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

 

     Instruments
in Securities
    Other Financial
Instruments

Balance as of 8/31/08

   $ 730,000     

$

—  

Realized gain (loss)

     (1,408,100     —  

Change in unrealized appreciation (depreciation)

     (81,300     —  

Net purchases (sales)

     759,400        —  

Transfers in and/or out of Level 3

     —          —  
              

Balance as of 5/31/09

   $ —        $ —  
              


Notes to Schedule of Investments

(Unaudited)

Securities Valuation: Securities listed on a securities exchange (other than options on securities and indices) are valued at the last sale price on such exchange on the day of valuation or, if there was no sale on such day, at the mean between the last reported bid and asked prices, or at the last bid price on such day in the absence of an asked price. Securities traded via Nasdaq are valued at the Nasdaq official closing price (“NOCP”) on the day of valuation, or if there was no NOCP, at the last sale price. Securities that are actively traded in the over-the-counter market, including listed securities for which the primary market is believed by Prudential Investments LLC (“PI” or “Manager”), in consultation with the subadvisers; to be over-the-counter, are valued at market value using prices provided by an independent pricing agent or principal market maker.

Securities for which market quotations are not readily available, or whose values have been affected by events occurring after the close of the security’s foreign market and before the Fund’s normal pricing time, are valued at fair value in accordance with the Board of Directors’ approved fair valuation procedures. When determining the fair valuation of securities some of the factors influencing the valuation include, the nature of any restrictions on disposition of the securities; assessment of the general liquidity of the securities; the issuer’s financial condition and the markets in which it does business; the cost of the investment; the size of the holding and the capitalization of issuer; the prices of any recent transactions or bids/offers for such securities or any comparable securities; any available analyst media or other reports or information deemed reliable by the investment adviser regarding the issuer or the markets or industry in which it operates. Using fair value to price securities may result in a value that is different from a security’s most recent closing price and from the price used by other mutual funds to calculate their net asset values. Market value of investments traded in a foreign currency are translated into U.S. dollars at the current rates of exchange.

Short-term debt securities which mature in sixty days or less are valued at amortized cost, which approximates fair value. The amortized cost method includes valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and cost. Short-term debt securities which mature in more than sixty days are valued at current market quotations.

Options on securities and indices traded on an exchange are valued on their last sales price as of the close of trading on the applicable exchange or, if there was no sale, at the mean between the most recently quoted bid and asked prices on such exchange.

Investments in mutual funds are valued at the net asset value as of the close of the New York Stock Exchange on the date of valuation.

The Fund invests in the Taxable Money Market Series (the “Portfolio”), a portfolio of Dryden Core Investment Fund. The Portfolio is a money market mutual fund registered under the Investment Company Act of 1940, as amended, and managed by PI.

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).


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 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 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 significant changes in the registrant’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

 

Item 3. Exhibits

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 – Attached hereto.


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.

(Registrant) Jennison Blend Fund, Inc.

 

By (Signature and Title)*   

/s/    Deborah A. Docs

   Deborah A. Docs
   Secretary of the Fund                                

Date July 22, 2009

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 (Signature and Title)*   

/s/    Judy A. Rice

   Judy A. Rice
   President and Principal Executive Officer

Date July 22, 2009

 

By (Signature and Title)*   

/s/    Grace C. Torres

   Grace C. Torres
   Treasurer and Principal Financial Officer

Date July 22, 2009

 

* Print the name and title of each signing officer under his or her signature.