- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
May 26 2010 - 7:02AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number
811-22328
SELIGMAN PREMIUM TECHNOLOGY GROWTH FUND, INC.
(Exact name of registrant as specified in charter)
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50606 Ameriprise Financial Center, Minneapolis, Minnesota
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55474
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(Address of principal executive offices)
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(Zip code)
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Scott R. Plummer 5228 Ameriprise Financial Center, Minneapolis, MN 55474
(Name and address of agent for service)
Registrants telephone number, including area code:
(612) 671-1947
Date of fiscal year end:
12/31
Date of reporting period:
3/31
Portfolio of Investments
Seligman Premium Technology Growth Fund
March 31, 2010 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in Securities
Common Stocks (97.3%)
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Issuer
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Shares
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Value(a)
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Aerospace & Defense (2.0%)
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General Dynamics Corp.
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76,300
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$
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5,890,360
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Biotechnology (1.2%)
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Gilead Sciences, Inc.
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77,700
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(b)
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3
,533,796
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Communications Equipment (7.4%)
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Cisco Systems, Inc.
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501,000
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(b)
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13,041,030
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QUALCOMM, Inc.
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208,400
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(e)
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8,750,716
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Total
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2
1,791,746
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Computers & Peripherals (11.7%)
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Apple, Inc.
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62,800
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(b)
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14,753,604
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Hewlett-Packard Co.
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166,200
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8,833,530
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NetApp, Inc.
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270,600
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(b)
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8,810,736
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Netezza Corp.
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138,400
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(b)
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1,770,136
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|
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|
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Total
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3
4,168,006
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Diversified Financial Services (0.5%)
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BM&FBOVESPA SA
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233,300
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(c)
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1,567,146
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Diversified Telecommunication Services (0.9%)
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Deutsche Telekom AG, ADR
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199,432
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(c)
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2,692,332
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Electrical Equipment (0.4%)
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Sensata Technologies Holding NV
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64,502
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(b,c)
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1,158,456
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Electronic Equipment, Instruments & Components (0.4%)
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Corning, Inc.
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56,700
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1,145,907
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Health Care Equipment & Supplies (2.6%)
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St. Jude Medical, Inc.
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188,400
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(b)
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7,733,820
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Internet Software & Services (6.9%)
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eBay, Inc.
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70,500
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(b)
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1,899,975
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Google, Inc., Class A
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10,500
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(b)
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5,953,605
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Open Text Corp.
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209,500
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(b,c)
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9,944,965
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VeriSign, Inc.
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90,000
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(b)
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2,340,900
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Total
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2
0,139,445
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IT Services (6.0%)
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Amdocs Ltd.
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499,800
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(b,c)
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15,048,978
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Genpact Ltd.
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53,411
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(b,c)
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895,702
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Lender Processing Services, Inc.
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39,900
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1,506,225
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Total
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17,450,905
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Issuer
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Shares
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Value(a)
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Life Sciences Tools & Services (1.1%)
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Life Technologies Corp.
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62,400
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(b)
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3,261,648
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Media (0.9%)
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DreamWorks Animation SKG, Inc., Class A
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66,748
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(b)
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2,629,204
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Office Electronics (1.1%)
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Xerox Corp.
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317,100
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3,091,725
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Pharmaceuticals (1.3%)
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Abbott Laboratories
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69,800
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3,677,064
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Semiconductors & Semiconductor Equipment (13.3%)
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Amkor Technology, Inc.
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540,000
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(b)
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3,817,800
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Analog Devices, Inc.
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51,400
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1,481,348
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Avago Technologies Ltd.
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102,200
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(b,c)
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2,101,232
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Broadcom Corp., Class A
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25,800
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856,044
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Intel Corp.
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395,100
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8,794,925
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|
Lam Research Corp.
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79,300
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(b)
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2,959,476
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Marvell Technology Group Ltd.
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132,500
|
(b,c)
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2,700,350
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Micron Technology, Inc.
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138,000
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(b)
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1,433,820
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National Semiconductor Corp.
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234,537
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3,389,060
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Novellus Systems, Inc.
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297,500
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(b)
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7,437,500
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Veeco Instruments, Inc.
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20,300
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(b)
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883,050
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Verigy Ltd.
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276,103
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(b,c)
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3,086,832
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Total
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38,941,437
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Software (39.6%)
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Activision Blizzard, Inc.
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223,100
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2,690,586
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Aspen Technology, Inc.
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189,200
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(b)
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1,939,300
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BMC Software, Inc.
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381,600
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(b)
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14,500,800
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Check Point Software Technologies
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423,900
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(b,c)
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14,861,934
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JDA Software Group, Inc.
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161,700
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(b)
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4,498,494
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|
Mentor Graphics Corp.
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573,200
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(b)
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4,597,064
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Micro Focus International PLC
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85,800
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(c)
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652,960
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Microsoft Corp.
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540,100
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15,808,727
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Nuance Communications, Inc.
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466,700
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(b)
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7,765,888
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Parametric Technology Corp.
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664,800
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(b)
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11,999,640
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SonicWALL, Inc.
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293,980
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(b)
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2,554,686
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SS&C Technologies Holdings, Inc.
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5,559
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(b)
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83,830
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|
Symantec Corp.
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862,500
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(b)
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14,593,500
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Synopsys, Inc.
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865,000
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(b)
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19,350,050
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Total
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115,897,459
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Total Common Stocks
(Cost: $269,723,867)
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$
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284,770,456
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Money Market Fund (1.2%)
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Shares
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Value(a)
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RiverSource Short-Term Cash Fund, 0.18%
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3,647,946
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(f)
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$
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3,647,946
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|
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|
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Total Money Market Fund
(Cost: $3,647,946)
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$
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3,647,946
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|
|
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|
Total Investments in Securities(d)
(Cost: $273,371,813)(g)
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$
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288,418,402
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The industries identified above are based on the Global Industry Classification Standard (GICS),
which was developed by and is the exclusive property of Morgan Stanley Capital International Inc.
and Standard & Poors, a division of The McGraw-Hill Companies, Inc.
Investments in Derivatives
Open Options Contracts Written at March 31, 2010
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Number of
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Exercise
|
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Premium
|
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Expiration
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Issuer
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Puts/Calls
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contracts
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price
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received
|
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date
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Value(a)
|
|
Apple, Inc.
|
|
Put
|
|
|
236
|
|
|
$
|
170
|
|
|
$
|
444,556
|
|
|
Jan. 2011
|
|
$
|
136,880
|
|
Google, Inc., Class
A
|
|
Put
|
|
|
13
|
|
|
|
560
|
|
|
|
20,774
|
|
|
April 2010
|
|
|
15,795
|
|
Google, Inc., Class
A
|
|
Put
|
|
|
14
|
|
|
|
550
|
|
|
|
28,311
|
|
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June 2010
|
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|
26,040
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|
Hewlett-Packard Co.
|
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Put
|
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|
506
|
|
|
|
44
|
|
|
|
43,513
|
|
|
May 2010
|
|
|
6,578
|
|
QUALCOMM, Inc.
|
|
Put
|
|
|
259
|
|
|
|
35
|
|
|
|
26,182
|
|
|
July 2010
|
|
|
13,986
|
|
QUALCOMM, Inc.
|
|
Put
|
|
|
159
|
|
|
|
38
|
|
|
|
30,966
|
|
|
July 2010
|
|
|
16,854
|
|
QUALCOMM, Inc.
|
|
Call
|
|
|
366
|
|
|
|
43
|
|
|
|
39,004
|
|
|
July 2010
|
|
|
68,991
|
|
Research In Motion
Ltd.
|
|
Put
|
|
|
70
|
|
|
|
45
|
|
|
|
19,040
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|
|
Jan. 2011
|
|
|
9,240
|
|
Research In Motion
Ltd.
|
|
Put
|
|
|
63
|
|
|
|
50
|
|
|
|
25,074
|
|
|
Jan. 2011
|
|
|
12,978
|
|
S&P 500 Index
|
|
Call
|
|
|
564
|
|
|
|
1,950
|
|
|
|
1,555,504
|
|
|
April 2010
|
|
|
1,666,620
|
|
|
Total
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,973,962
|
|
|
Notes to Portfolio of Investments
|
|
|
ADR American Depository Receipt
|
|
(a)
|
|
Securities are valued by using policies described in Note 2 to the financial statements in the
most recent Annual Report dated Dec. 31, 2009.
|
|
(b)
|
|
Non-income producing.
|
|
(c)
|
|
Foreign security values are stated in U.S. dollars. At March 31, 2010, the value of foreign
securities, excluding short-term securities, represented 18.70% of net assets.
|
|
(d)
|
|
At March 31, 2010, cash or short-term securities were designated to cover open put and/or call
options written
|
|
(e)
|
|
At March 31, 2010, securities valued at $1,536,834 were held to cover open call options
written.
|
|
(f)
|
|
Affiliated Money Market Fund The Fund may invest its daily cash balance in RiverSource
Short-Term Cash Fund, a money market fund established for the exclusive use of the RiverSource
funds and other institutional clients of RiverSource Investments. The rate shown is the seven-day
current annualized yield at March 31, 2010.
|
|
(g)
|
|
At March 31, 2010, the cost of securities for federal income tax purposes was approximately
$273,372,000 and the approximate aggregate gross unrealized appreciation and depreciation based on
that cost was:
|
|
|
|
|
|
Unrealized appreciation
|
|
$
|
17,786,000
|
|
Unrealized depreciation
|
|
|
(2,740,000
|
)
|
|
Net unrealized appreciation
|
|
$
|
15,046,000
|
|
|
Fair Value Measurements
Generally accepted accounting principles (GAAP) require disclosure regarding the inputs and
valuation techniques used
to measure fair value and any changes in valuation inputs or techniques. In addition, investments
shall be disclosed
by major category.
The Fund categorizes its fair value measurements according to a three-level hierarchy that
maximizes the use of observable inputs and minimizes the use of unobservable inputs by prioritizing
that the most observable input be used when available. Observable inputs are those that market
participants would use in pricing an investment based on market data obtained from sources
independent of the reporting entity. Unobservable inputs are those that reflect the Funds
assumptions about the information market participants would use in pricing an investment. An
investments level within the fair value hierarchy is based on the lowest level of any input that
is deemed significant to the asset or liabilitys fair value measurement. The input levels are not
necessarily an indication of the risk or liquidity associated with investments at that level. For
example, certain U.S. government securities are generally high quality and liquid, however, they
are reflected as Level 2 because the inputs used to determine fair value may not always be quoted
prices in an active market.
Fair value inputs are summarized in the three broad levels listed below:
|
|
|
Level 1 Valuations based on quoted prices for investments in active markets that the Fund has
the ability to access at the measurement date. Valuation adjustments are not applied to Level 1
investments.
|
|
|
|
|
Level 2 Valuations based on other significant observable inputs (including quoted prices for
similar securities, interest rates, prepayment speeds, credit risks, etc.).
|
|
|
|
|
Level 3 Valuations based on significant unobservable inputs (including the Funds own
assumptions and judgment in determining the fair value of investments).
|
Inputs that are used in determining fair value of an investment may include price information,
credit data, volatility statistics, and other factors. These inputs can be either observable or
unobservable. The availability of observable inputs can vary between investments, and is affected
by various factors such as the type of investment, and the volume and level of activity for that
investment or similar investments in the marketplace. The inputs will be considered by the Fund
Administrator, along with any other relevant factors in the calculation of an investments fair
value. The Fund uses prices and inputs that are current as of the measurement date, which may
include periods of market dislocations. During these periods, the availability of prices and inputs
may be reduced for many investments. This condition could cause an investment to be reclassified
between the various levels within the hierarchy.
Non-U.S. equity securities actively traded in foreign markets may be reflected in Level 2 despite
the availability of closing prices, because the Fund evaluates and determines whether those closing
prices reflect fair value at the close of the New York Stock Exchange (NYSE) or require adjustment,
as described in Note 2 to the financial statements Valuation of securities in the most recent
Annual Report dated Dec. 31, 2009.
Investments falling into the Level 3 category are primarily supported by quoted prices from brokers
and dealers participating in the market for those investments. However, these may be classified as
Level 3 investments due to lack of market transparency and corroboration to support these quoted
prices. Additionally, valuation models may be used as the pricing source for any remaining
investments classified as Level 3. These models rely on one or more significant unobservable inputs
and/or significant assumptions by the Fund Administrator. Inputs used in a valuation model may
include, but are not limited to, financial statement analysis, discount rates and estimated cash
flows, and comparable company data.
The following table is a summary of the inputs used to value the Funds investments as of March 31,
2010:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value at March 31, 2010
|
|
|
Level 1
|
|
Level 2
|
|
|
|
|
|
|
quoted prices
|
|
other
|
|
Level 3
|
|
|
|
|
in active
|
|
significant
|
|
significant
|
|
|
|
|
markets for
|
|
observable
|
|
unobservable
|
|
|
Description
|
|
identical assets
|
|
inputs
|
|
inputs
|
|
Total
|
|
Equity Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks(a)
|
|
$
|
284,770,456
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
284,770,456
|
|
|
Total Equity Securities
|
|
|
284,770,456
|
|
|
|
|
|
|
|
|
|
|
|
284,770,456
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliated Money Market Fund(b)
|
|
|
3,647,946
|
|
|
|
|
|
|
|
|
|
|
|
3,647,946
|
|
|
Total Other
|
|
|
3,647,946
|
|
|
|
|
|
|
|
|
|
|
|
3,647,946
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities
|
|
|
288,418,402
|
|
|
|
|
|
|
|
|
|
|
|
288,418,402
|
|
Other Financial Instruments(c)
|
|
|
1,973,962
|
|
|
|
|
|
|
|
|
|
|
|
1,973,962
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
290,392,364
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
290,392,364
|
|
|
|
|
|
(a)
|
|
Industry classifications are identified in the Portfolio of Investments.
|
|
(b)
|
|
Money market fund that is a sweep investment for cash balances in the Fund at March 31, 2010.
|
|
(c)
|
|
Other Financial Instruments are derivative instruments. Derivative descriptions are located in
the Investments in Derivatives section of the Portfolio of Investments.
|
Item 2. Control and Procedures.
(a) Based upon their evaluation of the registrants disclosure controls and
procedures as conducted within 90 days of the filing date of this report, the
registrants principal financial officer and principal executive officer have
concluded that those disclosure controls and procedures provide reasonable
assurance that the material information required to be disclosed by the
registrant on this report is recorded, processed, summarized and reported within
the time periods specified in the Securities and Exchange Commissions rules and
forms.
(b) There were no changes in the registrants internal control over financial
reporting that occurred during the registrants last fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the
registrants internal control over financial reporting.
Item 3. Exhibits.
Separate certification for the Registrants principal executive officer and
principal financial officer as required by Rule 30a-2(a) under the Investment
Company Act of 1940.
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) Seligman Premium Technology Growth Fund, Inc.
|
|
|
|
|
By
|
|
/s/ J. Kevin Connaughton
|
|
|
|
|
J. Kevin Connaughton
|
|
|
|
|
President and Principal Executive Officer
|
|
|
|
Date
|
|
May 26, 2010
|
|
|
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/ J. Kevin Connaughton
|
|
|
|
|
J. Kevin Connaughton
|
|
|
|
|
President and Principal Executive Officer
|
|
|
|
Date
|
|
May 26, 2010
|
|
|
|
|
|
|
|
By
|
|
/s/ Jeffrey P. Fox
|
|
|
|
|
Jeffrey P. Fox
|
|
|
|
|
Treasurer and Principal Financial Officer
|
|
|
|
Date
|
|
May 26, 2010
|
|
|
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