UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


 
FORM N-Q
 
 
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 




Investment Company Act file number [ 811-00515]



The Wall Street Fund, Inc.
(Exact name of registrant as specified in charter)



55 E. 52 nd Street, 23rd Floor
New York, NY  10055
 (Address of principal executive offices) (Zip code)



Robert P. Morse, President
The Wall Street Fund, Inc.
55 E. 52 nd Street, 23rd Floor
New York, NY  10055
 (Name and address of agent for service)



(212) 497-0845  
Registrant's telephone number, including area code



Date of fiscal year end: December 31, 2013



Date of reporting period:   March 31, 2013

 
 
 
 
 
 
Item 1. Schedule of Investments.
 
The Wall Street Fund, Inc.
         
Schedule of Investments
           
March 31, 2013 (Unaudited)
           
             
   
Shares
   
Value
 
COMMON STOCKS - 99.3%
           
Aerospace - 0.4%
           
United Technologies Corp.
    2,500     $ 233,575  
                 
Beverages - 2.5%
               
Beam, Inc.
    25,000       1,588,500  
                 
Biotechnology - 5.0%
               
Alexion Pharmaceuticals, Inc. (a)
    9,000       829,260  
Celgene Corp. (a)
    10,000       1,159,100  
Gilead Sciences, Inc. (a)
    25,000       1,223,250  
              3,211,610  
Building & Construction - 2.9%
               
D.R. Horton, Inc.
    77,000       1,871,100  
                 
Chemicals - 2.4%
               
Celanese Corp.
    35,000       1,541,750  
                 
Containers & Packaging - 1.8%
               
Rock-Tenn Co.
    12,500       1,159,875  
                 
Diversified - 1.2%
               
3M Co.
    7,000       744,170  
                 
Drugs - 1.9%
               
Actavis, Inc. (a)
    11,000       1,013,210  
Allergan, Inc.
    2,000       223,260  
              1,236,470  
Electrical Equipment - 1.3%
               
Roper Industries, Inc.
    6,500       827,515  
                 
Energy - 6.7%
               
Chevron Corp.
    12,000       1,425,840  
Marathon Oil Corp.
    46,000       1,551,120  
Whiting Petroleum Corp. (a)
    7,500       381,300  
Williams Companies, Inc.
    26,000       973,960  
              4,332,220  
Energy Equipment & Services - 5.3%
               
Noble Corp. (b)
    37,000       1,411,550  
Oil States International, Inc. (a)
    11,000       897,270  
Schlumberger Ltd. (b)
    14,500       1,085,905  
              3,394,725  
Financial Services - 8.2%
               
American Express Co.
    26,000       1,753,960  
Mastercard, Inc.
    3,400       1,839,842  
The Blackstone Group LP
    85,000       1,681,300  
              5,275,102  
Food Services - 1.8%
               
Yum Brands, Inc.
    16,000       1,151,040  
                 
Forest Products - 2.4%
               
Weyerhaeuser Co. - REIT
    50,000       1,569,000  
                 
Health Care Services - 2.5%
               
UnitedHealth Group, Inc.
    28,000       1,601,880  
                 
Insurance - 2.3%
               
ACE Ltd. (b)
    17,000       1,512,490  
                 
Leisure - 0.3%
               
Las Vegas Sands Corp.
    4,000       225,400  
                 
Machinery - 2.1%
               
Caterpillar, Inc.
    5,000       434,850  
Cummins, Inc.
    8,000       926,480  
              1,361,330  
Media - 5.4%
               
DIRECTV (a)
    33,000       1,868,130  
Walt Disney Co.
    28,000       1,590,400  
              3,458,530  
Office Equipment - 5.3%
               
Apple, Inc.
    2,050       907,391  
EMC Corp. (a)
    28,000       668,920  
Western Digital Corp.
    37,000       1,860,360  
              3,436,671  
Retail - 2.5%
               
TJX Companies, Inc.
    34,000       1,589,500  
                 
Semiconductors - 4.5%
               
Intel Corp.
    35,000       764,750  
KLA-Tencor Corp.
    3,000       158,220  
NXP Semiconductors NV (a)(b)
    65,000       1,966,900  
              2,889,870  
Services - 9.8%
               
Accenture PLC - Class A (b)
    22,000       1,671,340  
Amazon.com, Inc. (a)
    5,700       1,518,993  
Demand Media, Inc. (a)
    60,000       517,800  
Google, Inc. - Class A (a)
    2,500       1,985,075  
Rackspace Hosting, Inc. (a)
    12,000       605,760  
              6,298,968  
Software - 4.8%
               
Ansys, Inc. (a)
    9,000       732,780  
Microsoft Corp.
    32,000       915,520  
Oracle Corp.
    45,000       1,455,300  
              3,103,600  
Specialty Retail - 8.9%
               
AutoZone, Inc. (a)
    4,500       1,785,465  
Home Depot, Inc.
    25,000       1,744,500  
Michael Kors Holdings Ltd. (a)(b)
    25,000       1,419,750  
VF Corp.
    4,500       754,875  
              5,704,590  
Telecommunications - 2.9%
               
American Tower Corp. - REIT
    11,000       846,120  
QUALCOMM, Inc.
    15,000       1,004,250  
              1,850,370  
Transportation - 4.2%
               
J.B. Hunt Transport Services, Inc.
    13,500       1,005,480  
Union Pacific Corp.
    12,000       1,708,920  
              2,714,400  
TOTAL COMMON STOCKS (Cost $49,879,416)
          $ 63,884,251  
 
               
SHORT TERM INVESTMENT - 0.7%
               
Money Market Fund - 0.7%
               
First American Prime Obligations Fund, Class Z, 0.018% (c)
    469,684       469,684  
TOTAL SHORT TERM INVESTMENTS (Cost $469,684)
          $ 469,684  
                 
Total Investments (Cost $50,349,100) - 100.0%
          $ 64,353,935  
Liabilities in Excess of Other Assets - 0.0%
            (7,171 )
TOTAL NET ASSETS - 100.0%
          $ 64,346,764  
                 
                 
Percentages are stated as a percent of net assets.
               
                 
(a) Non-income producing security
               
(b) Foreign Domiciled
               
(c) Variable Rate Security - the rate shown is the annualized seven-day effective yield as of March 31, 2013.
 
               
REIT - Real Estate Investment Trust
               
 

 
 
 
 
 
On March 31, 2013, the cost of investments for federal income tax purposes was approximately $50,349,100. The aggregate gross unrealized appreciation and depreciation of investments, based on this cost, was as follows*:
 
Unrealized appreciation
  $ 14,212,989  
Unrealized depreciation
    (208,154 )
Net unrealized appreciation
  $ 14,004,835  
 
*Because tax adjustments are calculated annually, the above table does not reflect tax adjustments. For the previous fiscal year's federal income tax information, please refer to the Notes to Financial Statements section in the Fund's most recent semi-annual or annual report.
 
Generally accepted accounting principles require disclosures regarding the valuation inputs and techniques used to measure fair value and any changes in such valuation inputs and techniques. The various inputs used in determining the value of each of the Fund's investments are summarized in the following three broad categories:
 
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 valuation levels are not necessarily an indication of the risk associated with investing in these investments. As of March 31, 2013, the Fund's investments were classified as follows:
 
   
Level 1
   
Level 2
   
Level 3
   
Total
Fair Value
 
                           
Common Stocks
  $ 63,884,251     $ -     $ -     $ 63,884,251  
Short-Term Investments
    469,684       -       -       469,684  
Total Investments
  $ 64,353,935     $ -     $ -     $ 64,353,935  
 
Please see above for further industry breakout. The Fund did not hold any Level 3 assets during the period. Transfers between levels are recognized at the end of the reporting period. During the period ended March 31, 2013, the Fund did not recognize any transfers between valuation levels.


 
 
 
 
 
Item 2. Controls and Procedures.
 
(a)  
The Registrant’s President/Chief Executive Officer and Treasurer/Chief Financial Officer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) (17 CFR 270.30a-3(c)) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(d)) .

(b)  
There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) (17 CFR 270.30a-3(d)) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.
 
Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)).   Filed herewith.
 
 
 
 
 
 
 
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) The Wall Street Fund, Inc.                                   
 

By (Signature and Title)* /s/ Robert P. Morse                      
   Robert P. Morse President

Date ________________________________________


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/ Robert P. Morse                      
   Robert P. Morse, President

Date ________________________________________
 
 
By (Signature and Title)* /s/ John J. Rendinaro                   
   John J. Rendinaro, Treasurer

Date ________________________________________                                                                                          

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