- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
November 29 2010 - 2:21PM
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: December 31
Date of reporting period: September 30, 2010
Item 1. Schedule of Investments
Portfolio of Investments
Columbia Seligman Premium Technology Growth Fund
(formerly known as Seligman Premium Technology Growth Fund)
Sept. 30, 2010 (Unaudited)
(Percentages represent value of investments compared to net assets)
Investments in Securities
Common Stocks (100.8%)
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Issuer
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Shares
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Value(a)
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Aerospace & Defense (1.9%)
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General Dynamics Corp.
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86,400
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$
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5,426,784
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Biotechnology (0.6%)
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Gilead Sciences, Inc.
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51,300
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(b)
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1,826,793
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Communications Equipment (8.0%)
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Cisco Systems, Inc.
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519,500
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(b,d)
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11,377,050
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QUALCOMM, Inc.
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252,200
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11,379,264
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Total
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22,756,314
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Computers & Peripherals (9.9%)
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Apple, Inc.
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58,000
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(b)
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16,457,500
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Hewlett-Packard Co.
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279,200
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11,745,944
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Total
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28,203,444
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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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1,274,560
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Electronic Equipment, Instruments & Components (2.4%)
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Agilent Technologies, Inc.
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46,400
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(b)
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1,548,368
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Avnet, Inc.
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116,300
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(b)
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3,141,263
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Elster Group SE, ADR
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46,894
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(b,c)
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647,137
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Jabil Circuit, Inc.
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100,800
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1,452,528
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Total
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6,789,296
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Health Care Equipment & Supplies (2.0%)
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Boston Scientific Corp.
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146,900
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(b)
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900,497
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St. Jude Medical, Inc.
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123,400
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(b)
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4,854,556
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Total
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5,755,053
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Internet Software & Services (6.8%)
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Google, Inc., Class A
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22,100
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(b)
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11,619,959
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IntraLinks Holdings, Inc.
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35,754
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(b)
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604,600
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Open Text Corp.
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90,500
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(b,c)
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4,257,120
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SciQuest, Inc.
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25,565
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(b)
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308,825
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VeriSign, Inc.
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80,700
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(b)
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2,561,418
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Total
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19,351,922
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IT Services (5.9%)
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Amdocs Ltd.
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477,900
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(b,c)
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13,696,614
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Fidelity National Information Services, Inc.
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50,300
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1,364,639
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Lender Processing Services, Inc.
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51,600
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1,714,668
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Total
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16,775,921
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Issuer
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Shares
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Value(a)
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Life Sciences Tools & Services (0.5%)
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Life Technologies Corp.
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16,300
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(b)
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761,047
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Thermo Fisher Scientific, Inc.
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14,800
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(b)
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708,624
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Total
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1,469,671
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Media (0.5%)
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Virgin Media, Inc.
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58,900
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1,355,878
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Office Electronics (2.0%)
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Xerox Corp.
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557,100
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5,765,985
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Semiconductors & Semiconductor Equipment (14.4%)
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Amkor Technology, Inc.
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688,888
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(b)
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4,525,994
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Analog Devices, Inc.
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214,860
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6,742,307
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ASML Holding NV
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53,000
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(c)
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1,575,690
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KLA-Tencor Corp.
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224,100
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7,895,043
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Marvell Technology Group Ltd.
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157,200
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(b,c)
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2,752,572
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National Semiconductor Corp.
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234,537
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2,995,037
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Novellus Systems, Inc.
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311,200
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(b)
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8,271,697
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ON Semiconductor Corp.
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89,200
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(b)
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643,132
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Teradyne, Inc.
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110,600
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(b)
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1,232,084
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Texas Instruments, Inc.
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53,400
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1,449,276
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Verigy Ltd.
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366,503
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(b,c)
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2,979,669
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Total
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41,062,501
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Software (45.0%)
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Adobe Systems, Inc.
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176,700
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(b,d)
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4,620,705
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Aspen Technology, Inc.
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254,196
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(b)
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2,636,013
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BMC Software, Inc.
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458,500
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(b)
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18,560,079
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BroadSoft, Inc.
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24,160
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(b)
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209,226
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Check Point Software Technologies Ltd.
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378,700
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(b,c)
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13,985,391
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ChinaCache International Holdings Ltd., ADR
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3,000
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(b,c)
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41,700
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JDA Software Group, Inc.
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285,400
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(b)
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7,237,744
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Mentor Graphics Corp.
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180,552
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(b)
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1,908,435
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Micro Focus International PLC
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75,600
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(c)
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453,041
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Microsoft Corp.
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589,000
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14,424,610
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Nuance Communications, Inc.
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605,300
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(b)
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9,466,892
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Oracle Corp.
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330,600
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8,876,610
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Parametric Technology Corp.
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545,968
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(b)
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10,668,215
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Symantec Corp.
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961,900
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(b)
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14,592,023
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Synopsys, Inc.
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865,000
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(b)
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21,426,049
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Total
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129,106,733
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Wireless Telecommunication Services (0.5%)
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China Mobile Ltd.
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127,500
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(c)
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1,305,615
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Total Common Stocks
(Cost: $280,590,501)
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$
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288,226,470
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Money Market Fund (0.4%)
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Shares
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Value(a)
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Columbia Short-Term Cash Fund, 0.245%
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1,271,066
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(f)
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$
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1,271,066
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Total Money Market Fund
(Cost: $1,271,066)
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$
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1,271,066
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Total Investments in Securities
(Cost: $281,861,567)(e,g)
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$
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289,497,536
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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 Sept. 30, 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)
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Adobe Systems, Inc.
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Call
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703
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$
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30.00
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$
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60,335
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|
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Jan. 2011
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$
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45,344
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Adobe Systems, Inc.
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Put
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879
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24.00
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|
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97,555
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Jan. 2011
|
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|
98,008
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Cisco Systems, Inc.
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Call
|
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508
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25.00
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45,052
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Jan. 2011
|
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18,288
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Cisco Systems, Inc.
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Put
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336
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20.00
|
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41,222
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Jan. 2011
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24,528
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Cisco Systems, Inc.
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Put
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656
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22.50
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|
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92,717
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Jan. 2011
|
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112,832
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Hewlett-Packard Co.
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Put
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288
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38.00
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50,968
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Jan. 2011
|
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|
35,856
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|
NASDAQ 100 Index
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Call
|
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90
|
|
|
|
2,025.00
|
|
|
|
190,392
|
|
|
Oct. 2010
|
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|
184,050
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|
NASDAQ 100 Index
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Call
|
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|
310
|
|
|
|
1,975.00
|
|
|
|
933,933
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|
Oct. 2010
|
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|
1,501,950
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NASDAQ 100 Index
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Call
|
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|
400
|
|
|
|
1,950.00
|
|
|
|
1,545,325
|
|
|
Oct. 2010
|
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|
2,684,000
|
|
|
Total
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|
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|
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|
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|
|
|
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$
|
4,704,856
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Notes to Portfolio of Investments
ADR American Depositary Receipt
(a)
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Securities are valued by using policies described in Note 2 to the financial statements in the
most recent Semiannual Report dated June 30, 2010.
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(b)
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Non-income producing.
|
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(c)
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Foreign security values are stated in U.S. dollars. At Sept. 30, 2010, the value of foreign
securities, excluding short-term securities, represented 15.02% of net assets.
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(d)
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At Sept. 30, 2010, securities valued at $2,950,865 were held to cover open call options
written.
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(e)
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At Sept. 30, 2010, cash or short-term securities were designated to cover open put and/or call
options written.
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(f)
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|
Affiliated Money Market Fund The Fund may invest its daily cash balance in Columbia
Short-Term Cash Fund, a money market fund established for the exclusive use of funds and other
institutional clients of Columbia Management. The rate shown is the seven-day current annualized
yield at Sept. 30, 2010.
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(g)
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At Sept. 30, 2010, the cost of securities for federal income tax purposes was approximately
$281,862,000 and the approximate aggregate gross unrealized appreciation and depreciation based on
that cost was:
|
|
|
|
|
|
Unrealized appreciation
|
|
$
|
20,728,000
|
|
Unrealized depreciation
|
|
|
(13,092,000
|
)
|
|
Net unrealized appreciation
|
|
$
|
7,636,000
|
|
|
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:
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Level 1 Valuations based on quoted prices for investments in active markets that the Fund has
the ability to access at the measurement date (to include NAV for open-end mutual funds). Valuation adjustments are not
applied to Level 1 investments.
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|
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|
Level 2 Valuations based on other significant observable inputs (including quoted prices for
similar securities, interest rates, prepayment speeds, credit risks, etc.).
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|
|
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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
Semiannual Report dated June 30, 2010.
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 valuations may include,
but are not limited to, financial statement analysis, capital account balances, 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 Sept. 30,
2010:
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|
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|
|
|
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Fair value at Sept. 30, 2010
|
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Level 1
|
|
Level 2
|
|
|
|
|
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quoted prices
|
|
other
|
|
Level 3
|
|
|
|
|
in active
|
|
significant
|
|
significant
|
|
|
|
|
markets for
|
|
observable
|
|
unobservable
|
|
|
Description(a)
|
|
identical assets(b)
|
|
inputs
|
|
inputs
|
|
Total
|
|
Equity Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks
|
|
$
|
288,226,470
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
288,226,470
|
|
|
Total Equity Securities
|
|
|
288,226,470
|
|
|
|
|
|
|
|
|
|
|
|
288,226,470
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Affiliated Money Market Fund(c)
|
|
|
1,271,066
|
|
|
|
|
|
|
|
|
|
|
|
1,271,066
|
|
|
Total Other
|
|
|
1,271,066
|
|
|
|
|
|
|
|
|
|
|
|
1,271,066
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in Securities
|
|
|
289,497,536
|
|
|
|
|
|
|
|
|
|
|
|
289,497,536
|
|
Derivatives
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Contracts Written
|
|
|
(4,704,856
|
)
|
|
|
|
|
|
|
|
|
|
|
(4,704,856
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
284,792,680
|
|
|
$
|
|
|
|
$
|
|
|
|
$
|
284,792,680
|
|
|
(a)
|
|
See the Portfolio of Investments for all investment classifications not indicated in the table.
|
|
(b)
|
|
Includes certain securities trading outside the U.S. whose values were adjusted at Dec. 31,
2009 as a result of significant market movements following the close of local trading, and were
classified as Level 2. These values were not adjusted as of Sept. 30, 2010. Therefore, these
investment securities were classified as Level 1 instead of Level 2 at Sept. 30, 2010. The amount
of securities transferred out of Level 2 into Level 1 during the period was $553,165. Transfers
between Levels 1 and 2 are determined based on the fair value at the beginning of the period for
security positions held throughout the period.
|
|
(c)
|
|
Money market fund that is a sweep investment for cash balances in the Fund at Sept. 30, 2010.
|
Item 2. Control and Procedures.
(a) The registrants principal executive officer and principal financial officer,
based on their evaluation of the registrants disclosure controls and procedures
as of a date within 90 days of the filing of this report, have concluded that such
controls and procedures are adequately designed to ensure that material information
required to be disclosed by the registrant in Form N-Q is accumulated and
communicated to the registrants management, including the principal executive
officer and principal financial officer, or persons performing similar functions, as
appropriate to allow timely decisions regarding required disclosure.
(b) There was no change 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.
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940
(17 CFR 270.30a-2(a)) attached hereto as Exhibit 99.CERT.
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
|
|
November 19, 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
|
|
November 19, 2010
|
|
|
|
|
|
|
|
By
|
|
/s/ Jeffrey P. Fox
|
|
|
|
|
Jeffrey P. Fox
|
|
|
|
|
Treasurer and Principal Financial Officer
|
|
|
|
|
|
|
|
Date
|
|
November 19, 2010
|
|
|
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