- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
May 28 2009 - 10:21AM
Edgar (US Regulatory)
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
|
811-21633
|
|
|
Cohen
& Steers Dividend Majors Fund, Inc.
|
(Exact name of registrant as specified in charter)
|
|
280 Park Avenue
New York, NY
|
|
10017
|
(Address of principal executive offices)
|
|
(Zip code)
|
|
Francis C. Poli
280 Park Avenue
New York, NY 10017
|
(Name and address of agent for service)
|
|
Registrants
telephone number, including area code:
|
(212)
832-3232
|
|
|
Date of
fiscal year end:
|
December 31
|
|
|
|
|
Date of
reporting period:
|
March 31,
2009
|
|
|
|
|
|
|
|
|
Item 1. Schedule of Investments
COHEN & STEERS DIVIDEND MAJORS FUND, INC.
SCHEDULE OF INVESTMENTS
March 31, 2009 (Unaudited)
|
|
Number
|
|
|
|
|
|
of Shares
|
|
Value
|
|
COMMON STOCK 97.2%
|
|
|
|
|
|
BASIC MATERIALS 1.1%
|
|
|
|
|
|
Alcoa
|
|
26,400
|
|
$
|
193,776
|
|
Archer-Daniels-Midland Co.
|
|
14,600
|
|
405,588
|
|
Dow Chemical Co.
|
|
22,900
|
|
193,047
|
|
Praxair
|
|
6,100
|
|
410,469
|
|
|
|
|
|
1,202,880
|
|
CONSUMERCYCLICAL 3.8%
|
|
|
|
|
|
APPAREL 0.7%
|
|
|
|
|
|
NIKE
|
|
17,300
|
|
811,197
|
|
|
|
|
|
|
|
AUTO PARTS EQUIPMENT 0.2%
|
|
|
|
|
|
Johnson Controls
|
|
16,200
|
|
194,400
|
|
|
|
|
|
|
|
MEDIA 0.7%
|
|
|
|
|
|
The Walt Disney Co.
|
|
44,400
|
|
806,304
|
|
|
|
|
|
|
|
RETAIL 2.0%
|
|
|
|
|
|
Nordstrom
|
|
11,900
|
|
199,325
|
|
Wal-Mart Stores
|
|
38,900
|
|
2,026,690
|
|
|
|
|
|
2,226,015
|
|
TOYS/GAMES/HOBBIES 0.2%
|
|
|
|
|
|
Mattel
|
|
17,000
|
|
196,010
|
|
TOTAL CONSUMERCYCLICAL
|
|
|
|
4,233,926
|
|
CONSUMERNON-CYCLICAL 12.0%
|
|
|
|
|
|
AGRICULTURE 3.0%
|
|
|
|
|
|
Altria Group
|
|
132,300
|
|
2,119,446
|
|
Monsanto Co.
|
|
14,500
|
|
1,204,950
|
|
|
|
|
|
3,324,396
|
|
BEVERAGE 1.8%
|
|
|
|
|
|
PepsiCo
|
|
39,000
|
|
2,007,720
|
|
|
|
|
|
|
|
COSMETICS/PERSONAL CARE 2.8%
|
|
|
|
|
|
Colgate-Palmolive Co.
|
|
13,700
|
|
808,026
|
|
|
|
|
|
|
|
|
1
|
|
Number
|
|
|
|
|
|
of Shares
|
|
Value
|
|
Procter & Gamble Co.
|
|
46,800
|
|
$
|
2,203,812
|
|
|
|
|
|
3,011,838
|
|
FOOD 0.7%
|
|
|
|
|
|
Kraft Foods
|
|
36,200
|
|
806,898
|
|
|
|
|
|
|
|
RESTAURANT 2.2%
|
|
|
|
|
|
McDonalds Corp.
|
|
44,300
|
|
2,417,451
|
|
|
|
|
|
|
|
RETAIL 1.5%
|
|
|
|
|
|
Costco Wholesale Corp.
|
|
8,700
|
|
402,984
|
|
Shoppers Drug Mart Corp. (Canada)
|
|
34,300
|
|
1,179,062
|
|
|
|
|
|
1,582,046
|
|
TOTAL CONSUMERNON-CYCLICAL
|
|
|
|
13,150,349
|
|
ENERGY 10.1%
|
|
|
|
|
|
OIL & GAS 7.5%
|
|
|
|
|
|
Apache Corp.
|
|
12,100
|
|
775,489
|
|
Chevron Corp.
|
|
32,700
|
|
2,198,748
|
|
Devon Energy Corp.
|
|
34,301
|
|
1,532,912
|
|
Exxon Mobil Corp.
|
|
35,300
|
|
2,403,930
|
|
Marathon Oil Corp.
|
|
52,900
|
|
1,390,741
|
|
|
|
|
|
8,301,820
|
|
OIL & GAS REFINING & MARKETING 0.4%
|
|
|
|
|
|
Valero Energy Corp.
|
|
21,600
|
|
386,640
|
|
|
|
|
|
|
|
OIL & GAS SERVICES 2.2%
|
|
|
|
|
|
Schlumberger Ltd.
|
|
40,900
|
|
1,661,358
|
|
Transocean Ltd.(a)
|
|
12,900
|
|
759,036
|
|
|
|
|
|
2,420,394
|
|
TOTAL ENERGY
|
|
|
|
11,108,854
|
|
FINANCIAL 8.2%
|
|
|
|
|
|
BANK 3.0%
|
|
|
|
|
|
Bank of America Corp.
|
|
55,600
|
|
379,192
|
|
Bank of New York Mellon Corp.
|
|
21,800
|
|
615,850
|
|
Toronto-Dominion Bank (Canada)
|
|
23,100
|
|
796,261
|
|
|
|
|
|
|
|
|
2
|
|
Number
|
|
|
|
|
|
of Shares
|
|
Value
|
|
US Bancorp
|
|
53,700
|
|
$
|
784,557
|
|
Wells Fargo & Co.
|
|
51,800
|
|
737,632
|
|
|
|
|
|
3,313,492
|
|
DIVERSIFIED FINANCIAL SERVICES 2.9%
|
|
|
|
|
|
BlackRock
|
|
7,800
|
|
1,014,312
|
|
Goldman Sachs Group
|
|
7,400
|
|
784,548
|
|
JPMorgan Chase & Co.
|
|
51,500
|
|
1,368,870
|
|
|
|
|
|
3,167,730
|
|
INSURANCE 2.3%
|
|
|
|
|
|
HCC Insurance Holdings
|
|
48,800
|
|
1,229,272
|
|
MetLife
|
|
41,800
|
|
951,786
|
|
Power Corp. (Canada)
|
|
26,100
|
|
406,778
|
|
|
|
|
|
2,587,836
|
|
TOTAL FINANCIAL
|
|
|
|
9,069,058
|
|
HEALTH CARE 11.0%
|
|
|
|
|
|
HEALTHCARE PRODUCTS 7.8%
|
|
|
|
|
|
Becton Dickinson & Co.
|
|
36,100
|
|
2,427,364
|
|
Covidien Ltd.
|
|
37,400
|
|
1,243,176
|
|
Johnson & Johnson
|
|
46,100
|
|
2,424,860
|
|
Medtronic
|
|
82,700
|
|
2,437,169
|
|
|
|
|
|
8,532,569
|
|
PHARMACEUTICAL 3.2%
|
|
|
|
|
|
Abbott Laboratories
|
|
50,395
|
|
2,403,842
|
|
Pfizer
|
|
86,300
|
|
1,175,406
|
|
|
|
|
|
3,579,248
|
|
TOTAL HEALTH CARE
|
|
|
|
12,111,817
|
|
INDUSTRIAL 7.1%
|
|
|
|
|
|
AEROSPACE & DEFENSE 4.9%
|
|
|
|
|
|
Boeing Co.
|
|
22,000
|
|
782,760
|
|
General Dynamics Corp.
|
|
33,700
|
|
1,401,583
|
|
L-3 Communications Holdings
|
|
11,900
|
|
806,820
|
|
Lockheed Martin Corp.
|
|
20,700
|
|
1,428,921
|
|
|
|
|
|
|
|
|
3
|
|
Number
|
|
|
|
|
|
of Shares
|
|
Value
|
|
United Technologies Corp.
|
|
23,500
|
|
$
|
1,010,030
|
|
|
|
|
|
5,430,114
|
|
DIVERSIFIED MANUFACTURING 1.1%
|
|
|
|
|
|
General Electric Co.
|
|
116,300
|
|
1,175,793
|
|
|
|
|
|
|
|
ENVIRONMENTAL CONTROL 0.2%
|
|
|
|
|
|
Waste Management
|
|
8,000
|
|
204,800
|
|
|
|
|
|
|
|
TRANSPORTATION 0.9%
|
|
|
|
|
|
Norfolk Southern Corp.
|
|
12,200
|
|
411,750
|
|
United Parcel Service
|
|
12,300
|
|
605,406
|
|
|
|
|
|
1,017,156
|
|
TOTAL INDUSTRIAL
|
|
|
|
7,827,863
|
|
MATERIALSMETALS & MINING 0.4%
|
|
|
|
|
|
Cameco Corp.
|
|
22,900
|
|
391,414
|
|
|
|
|
|
|
|
REAL ESTATE 24.7%
|
|
|
|
|
|
DIVERSIFIED 1.7%
|
|
|
|
|
|
Brookfield Properties Corp.
|
|
192,750
|
|
1,106,385
|
|
Douglas Emmett
|
|
95,000
|
|
702,050
|
|
|
|
|
|
1,808,435
|
|
HEALTH CARE 2.7%
|
|
|
|
|
|
HCP
|
|
75,092
|
|
1,340,392
|
|
Ventas
|
|
70,399
|
|
1,591,721
|
|
|
|
|
|
2,932,113
|
|
INDUSTRIAL 2.9%
|
|
|
|
|
|
AMB Property Corp.
|
|
140,589
|
|
2,024,482
|
|
EastGroup Properties
|
|
42,300
|
|
1,187,361
|
|
|
|
|
|
3,211,843
|
|
OFFICE 3.9%
|
|
|
|
|
|
Boston Properties
|
|
70,000
|
|
2,452,100
|
|
Mack-Cali Realty Corp.
|
|
92,600
|
|
1,834,406
|
|
|
|
|
|
4,286,506
|
|
|
|
|
|
|
|
|
4
|
|
Number
|
|
|
|
|
|
of Shares
|
|
Value
|
|
RESIDENTIALAPARTMENT 4.6%
|
|
|
American Campus Communities
|
|
88,900
|
|
$
|
1,543,304
|
|
AvalonBay Communities
|
|
35,703
|
|
1,680,183
|
|
Essex Property Trust
|
|
32,300
|
|
1,852,082
|
|
|
|
|
|
5,075,569
|
|
SELF STORAGE 3.1%
|
|
|
Public Storage
|
|
62,300
|
|
3,442,075
|
|
|
|
|
|
|
|
SHOPPING CENTER 4.2%
|
|
|
COMMUNITY CENTER 1.5%
|
|
|
Federal Realty Investment Trust
|
|
18,700
|
|
860,200
|
|
Regency Centers Corp.
|
|
31,200
|
|
828,984
|
|
|
|
|
|
1,689,184
|
|
REGIONAL MALL 2.7%
|
|
|
Simon Property Group
|
|
84,247
|
|
2,918,316
|
|
TOTAL SHOPPING CENTER
|
|
|
|
4,607,500
|
|
SPECIALTY 1.6%
|
|
|
Digital Realty Trust
|
|
53,100
|
|
1,761,858
|
|
TOTAL REAL ESTATE
|
|
|
|
27,125,899
|
|
TECHNOLOGY 13.3%
|
|
|
COMPUTERS 2.8%
|
|
|
Hewlett-Packard Co.
|
|
25,200
|
|
807,912
|
|
International Business Machines Corp.
|
|
22,800
|
|
2,209,092
|
|
|
|
|
|
3,017,004
|
|
INTERNET SERVICE PROVIDER 0.5%
|
|
|
Google(a)
|
|
1,700
|
|
591,702
|
|
|
|
|
|
|
|
IT SERVICES 0.7%
|
|
|
Automatic Data Processing
|
|
22,800
|
|
801,648
|
|
|
|
|
|
|
|
SEMICONDUCTORS 2.6%
|
|
|
Intel Corp.
|
|
66,900
|
|
1,006,845
|
|
|
|
|
|
|
|
|
5
|
|
Number
|
|
|
|
|
|
of Shares
|
|
Value
|
|
Microchip Technology
|
|
57,600
|
|
$
|
1,220,544
|
|
Texas Instruments
|
|
36,400
|
|
600,964
|
|
|
|
|
|
2,828,353
|
|
SOFTWARE 2.9%
|
|
|
Microsoft Corp.
|
|
109,200
|
|
2,006,004
|
|
Oracle Corp.(a)
|
|
67,200
|
|
1,214,304
|
|
|
|
|
|
3,220,308
|
|
TELECOMMUNICATION EQUIPMENT 3.8%
|
|
|
Corning
|
|
103,400
|
|
1,372,118
|
|
Harris Corp.
|
|
48,900
|
|
1,415,166
|
|
QUALCOMM
|
|
36,300
|
|
1,412,433
|
|
|
|
|
|
4,199,717
|
|
TOTAL TECHNOLOGY
|
|
|
|
14,658,732
|
|
TELECOMMUNICATIONS 2.6%
|
|
|
AT&T
|
|
80,000
|
|
2,016,000
|
|
Verizon Communications
|
|
26,700
|
|
806,340
|
|
|
|
|
|
2,822,340
|
|
UTILITIES 2.9%
|
|
|
ELECTRICINTEGRATED 2.2%
|
|
|
Exelon Corp.
|
|
18,400
|
|
835,176
|
|
FPL Group
|
|
31,400
|
|
1,592,922
|
|
|
|
|
|
2,428,098
|
|
MULTI UTILITIES 0.7%
|
|
|
Sempra Energy
|
|
17,500
|
|
809,200
|
|
TOTAL UTILITIES
|
|
|
|
3,237,298
|
|
TOTAL COMMON STOCK
(Identified cost$121,877,013)
|
|
|
|
106,940,430
|
|
|
|
|
|
|
|
|
6
|
|
|
|
Number
of Shares
|
|
Value
|
|
SHORT-TERM INVESTMENTS 4.1%
|
|
|
|
|
|
|
|
MONEY MARKET FUNDS
|
|
|
|
|
|
|
|
Dreyfus Treasury Cash Management Fund, 0.09%(b)
|
|
|
|
560,093
|
|
$
|
560,093
|
|
Federated U.S. Treasury Cash Reserves Fund, 0.01%(b)
|
|
|
|
3,340,007
|
|
3,340,007
|
|
Fidelity Institutional Money Market Treasury Only Fund, 0.26%(b)
|
|
|
|
560,249
|
|
560,249
|
|
|
|
|
|
|
|
|
|
TOTAL SHORT-TERM INVESTMENTS
(Identified cost$4,460,349)
|
|
|
|
|
|
4,460,349
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS (Identified cost$126,337,362)
|
|
101.3
|
%
|
|
|
111,400,779
|
|
|
|
|
|
|
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS
|
|
(1.3
|
)%
|
|
|
(1,380,880
|
)
|
|
|
|
|
|
|
|
|
NET ASSETS (Equivalent to $8.65 per share based on 12,721,550 shares
of common stock outstanding)
|
|
100.0
|
%
|
|
|
$
|
110,019,899
|
|
Note:
Percentages indicated are based on the net assets of the Fund.
(a)
Non-income
producing security.
(b)
Rate quoted
represents the seven day yield of the fund.
7
Note 1.
Portfolio
Valuation:
Investments in securities that are listed on the
New York Stock Exchange are valued, except as indicated below, at the last sale
price reflected at the close of the New York Stock Exchange on the business day
as of which such value is being determined. If there has been no sale on such
day, the securities are valued at the mean of the closing bid and asked prices
for the day or, if no asked price is available, at the bid price. Exchange
traded options are valued at their last sale price as of the close of options
trading on applicable exchanges. In the absence of a last sale, options are
valued at the average of the quoted bid and asked prices as of the close of
business. Over-the-counter options quotations are provided by the respective
counterparty.
Securities
not listed on the New York Stock Exchange but listed on other domestic or
foreign securities exchanges or admitted to trading on the National Association
of Securities Dealers Automated Quotations, Inc. (Nasdaq) national market
system are valued in a similar manner. Securities traded on more than one
securities exchange are valued at the last sale price on the business day as of
which such value is being determined as reflected on the tape at the close of
the exchange representing the principal market for such securities.
Readily
marketable securities traded in the over-the-counter market, including listed
securities whose primary market is believed by Cohen & Steers Capital
Management, Inc. (the investment manager) to be over-the-counter, but
excluding securities admitted to trading on the Nasdaq National List, are
valued at the official closing prices as reported by Nasdaq, the Pink Sheets,
or such other comparable sources as the Board of Directors deem appropriate to
reflect their fair market value. If there has been no sale on such day, the
securities are valued at the mean of the closing bid and asked prices for the
day, or if no asked price is available, at the bid price. However, certain
fixed-income securities may be valued on the basis of prices provided by a
pricing service when such prices are believed by the Board of Directors to
reflect the fair market value of such securities. Where securities are traded
on more than one exchange and also over-the-counter, the securities will
generally be valued using the quotations the Board of Directors believes most
closely reflect the value of such securities.
Securities
for which market prices are unavailable, or securities for which the investment
manager determines that bid and/or asked price does not reflect market value,
will be valued at fair value pursuant to procedures approved by the Funds
Board of Directors. Circumstances in which market prices may be unavailable
include, but are not limited to, when trading in a security is suspended, the
exchange on which the security is traded is subject to an unscheduled close or
disruption or material events occur after the close of the exchange on which
the security is principally traded. In these circumstances, the Fund determines
fair value in a manner that fairly reflects the market value of the security on
the valuation date based on consideration of any information or factors it
deems appropriate. These may include recent transactions in comparable
securities, information relating to the specific security and developments in the
markets.
The
Funds use of fair value pricing may cause the net asset value of Fund shares
to differ from the net asset value that would be calculated using market
quotations. Fair value pricing involves subjective judgments and it is possible
that the fair value determined for a security may be materially different than
the value that could be realized upon the sale of that security.
Short-term
debt securities, which have a maturity date of 60 days or less, are valued at
amortized cost, which approximates value.
The
Fund adopted Financial Accounting Standards Board Statement of Financial
Accounting Standards No. 157, Fair Value Measurements (FAS 157),
effective January 1, 2008. In accordance with FAS 157, fair value is
defined as the price that the Fund would receive to sell an investment or pay
to transfer a liability in an orderly transaction with an independent buyer in
the principal market, or in the absence of a principal market the most
advantageous market for the investment or liability. FAS 157 establishes a
single definition of fair value, creates a three-tier hierarchy as a framework
for measuring fair value based on inputs used to value the Funds investments,
and requires additional disclosure about fair value. The hierarchy of inputs is
summarized below.
·
Level 1
quoted prices in active markets for identical investments
·
Level 2 other
significant observable inputs (including quoted prices for similar investments,
interest rates, prepayment speeds, credit risk, etc.)
·
Level 3 significant
unobservable inputs (including the Funds own assumptions in determining the
fair value of investments)
The inputs or methodology used for valuing
securities are not necessarily an indication of the risk associated with
investing in those securities.
The
following is a summary of the inputs used as of March 31, 2009 in valuing
the Funds investments carried at value:
|
|
|
|
Fair Value Measurements at March 31, 2009 Using
|
|
|
|
|
|
Quoted Prices In
|
|
Significant
|
|
Significant
|
|
|
|
|
|
Active Market for
|
|
Other Observable
|
|
Unobservable
|
|
|
|
|
|
Identical Assets
|
|
Inputs
|
|
Inputs
|
|
|
|
Total
|
|
(Level 1)
|
|
(Level 2)
|
|
(Level 3)
|
|
Investments in Securities
|
|
$
|
111,400,779
|
|
$
|
106,940,430
|
|
$
|
4,460,349
|
|
$
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note 2.
Derivative
Investments:
The Fund has adopted the provisions of Statement of
Financial Accounting Standards No. 161,
Disclosures
about Derivative Instruments and Hedging Activities
(FAS 161). This
new standard requires funds to disclose information intended to enable
financial statement users to understand how and why the fund uses derivative
instruments, how derivative instruments are accounted for under FAS 133 and how
derivative instruments affect the
companys
financial position, results of operations, and cash flows. All changes to the
disclosures required in this report have been made in accordance with FAS 161.
Options:
The Fund may write covered
call options on an index or a security with the intention of earning option
premiums. Option premiums generate current income and may help increase
distributable income. When a Fund writes (sells) an option, an amount equal to
the premium received by the Fund is recorded in the Statement of Assets and
Liabilities as a liability. The amount of the liability is subsequently
marked-to-market to reflect the current market value of the option written.
When an option expires, the Fund realizes a gain or loss on the option to the
extent of the premiums received. Premiums received from writing options which
are exercised or are closed, are added to or offset against the proceeds or
amount paid on the transaction to determine the realized gain or loss. The
Fund, as writer of an option, bears the market risk of an unfavorable change in
the price of the underlying index or security. Other risks include the
possibility of an illiquid options market or the inability of the
counterparties to fulfill their obligations under the contract.
Note 3.
Income Tax Information
As of March 31,
2009, the federal tax cost and net unrealized depreciation were as follows:
Gross unrealized appreciation
|
|
$
|
2,247,117
|
|
Gross unrealized depreciation
|
|
(17,183,700
|
)
|
Net unrealized depreciation
|
|
$
|
(14,936,583
|
)
|
|
|
|
|
Cost for federal income tax purposes
|
|
$
|
126,337,362
|
|
Item 2.
Controls and Procedures
(a)
The registrants principal executive officer and
principal financial officer have concluded that the registrants disclosure
controls and procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940) are effective based on their evaluation of
these disclosure controls and procedures required by Rule 30a-3(b) under
the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under
the Securities Exchange Act as of a date within 90 days of the filing of this
report.
(b)
During the last fiscal quarter, there were no
changes in the registrants internal control over financial reporting (as
defined in Rule 30a-3(d) under the Investment Company Act of 1940)
that has materially affected, or is reasonably likely to materially affect, the
registrants internal control over financial reporting.
Item 3. Exhibits.
(a)
Certifications of 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.
COHEN &
STEERS DIVIDEND MAJORS FUND, INC.
By:
|
/s/
Adam M. Derechin
|
|
|
|
|
Name:
|
Adam M. Derechin
|
|
|
|
|
|
Title:
|
President
|
|
|
|
|
|
|
|
|
|
|
|
|
Date:
|
May 28,
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:
|
/s/
Adam M. Derechin
|
|
By:
|
/s/
James Giallanza
|
|
Name:
|
Adam M. Derechin
|
|
|
Name:
|
James
Giallanza
|
|
Title:
|
President
and principal executive officer
|
|
|
Title:
|
Treasurer
and principal financial officer
|
|
|
|
|
|
|
|
|
Date:
|
May 28,
2009
|
|
|
|
|
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