- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
November 24 2010 - 4:23PM
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:
|
September
30, 2010
|
|
|
|
|
|
|
|
|
Item 1. Schedule of Investments
COHEN & STEERS DIVIDEND MAJORS FUND, INC.
Schedule of Investments
September 30, 2010 (Unaudited)
|
|
Number
of Shares
|
|
Value
|
|
COMMON
STOCK 99.1%
|
|
|
|
|
|
BASIC
MATERIALS 0.3%
|
|
|
|
|
|
Dow
Chemical Co.
|
|
15,200
|
|
$
|
417,392
|
|
CONSUMERCYCLICAL
4.3%
|
|
|
|
|
|
APPAREL
0.7%
|
|
|
|
|
|
NIKE
(a)
|
|
14,000
|
|
1,121,960
|
|
AUTO
PARTS EQUIPMENT 0.5%
|
|
|
|
|
|
Genuine
Parts Co.
|
|
9,500
|
|
423,605
|
|
Johnson
Controls (a)
|
|
14,400
|
|
439,200
|
|
|
|
|
|
862,805
|
|
MEDIA
0.8%
|
|
|
|
|
|
Comcast
Corp.
|
|
22,900
|
|
414,032
|
|
The
Walt Disney Co.
|
|
25,200
|
|
834,372
|
|
|
|
|
|
1,248,404
|
|
RETAIL
2.3%
|
|
|
|
|
|
Nordstrom
|
|
25,500
|
|
948,600
|
|
Ross
Stores
|
|
18,200
|
|
994,084
|
|
Wal-Mart
Stores (a)
|
|
35,700
|
|
1,910,664
|
|
|
|
|
|
3,853,348
|
|
TOTAL
CONSUMERCYCLICAL
|
|
|
|
7,086,517
|
|
CONSUMERNON-CYCLICAL
6.2%
|
|
|
|
|
|
AGRICULTURE
0.3%
|
|
|
|
|
|
Philip
Morris International
|
|
7,700
|
|
431,354
|
|
APPAREL
0.4%
|
|
|
|
|
|
VF
Corp.
|
|
7,900
|
|
640,058
|
|
BEVERAGE
1.0%
|
|
|
|
|
|
PepsiCo
|
|
24,700
|
|
1,641,068
|
|
COSMETICS/PERSONAL
CARE 1.1%
|
|
|
|
|
|
Procter &
Gamble Co.
|
|
30,100
|
|
1,805,097
|
|
FOOD
0.5%
|
|
|
|
|
|
Kraft
Foods-Class A
|
|
27,400
|
|
845,564
|
|
|
|
|
|
|
|
|
1
|
|
Number
of Shares
|
|
Value
|
|
RESTAURANT
1.0%
|
|
|
|
|
|
McDonalds
Corp. (a)
|
|
22,800
|
|
$
|
1,698,828
|
|
RETAIL
1.5%
|
|
|
|
|
|
Costco
Wholesale Corp.
|
|
14,000
|
|
902,860
|
|
CVS
Caremark Corp. (a)
|
|
49,200
|
|
1,548,324
|
|
|
|
|
|
2,451,184
|
|
SPECIALTY
RETAIL 0.4%
|
|
|
|
|
|
Home
Depot
|
|
19,200
|
|
608,256
|
|
TOTAL
CONSUMER NON-CYCLICAL
|
|
|
|
10,121,409
|
|
ENERGY
5.7%
|
|
|
|
|
|
OIL &
GAS 5.1%
|
|
|
|
|
|
Apache
Corp. (a)
|
|
12,400
|
|
1,212,224
|
|
Chevron
Corp. (a)
|
|
26,500
|
|
2,147,825
|
|
ConocoPhillips
|
|
7,500
|
|
430,725
|
|
Devon
Energy Corp. (a)
|
|
9,700
|
|
627,978
|
|
Exxon
Mobil Corp. (a)
|
|
34,600
|
|
2,137,934
|
|
Marathon
Oil Corp.
|
|
23,600
|
|
781,160
|
|
Occidental
Petroleum Corp.
|
|
13,200
|
|
1,033,560
|
|
|
|
|
|
8,371,406
|
|
OIL &
GAS REFINING & MARKETING 0.1%
|
|
|
|
|
|
Valero
Energy Corp. (a)
|
|
9,100
|
|
159,341
|
|
OIL &
GAS SERVICES 0.5%
|
|
|
|
|
|
Schlumberger
Ltd.
|
|
12,900
|
|
794,769
|
|
TOTAL
ENERGY
|
|
|
|
9,325,516
|
|
|
|
|
|
|
|
|
2
|
|
Number
of Shares
|
|
Value
|
|
FINANCIAL
8.9%
|
|
|
|
|
|
BANK
2.9%
|
|
|
|
|
|
Bank
of America Corp. (a)
|
|
101,500
|
|
$
|
1,330,665
|
|
Bank
of New York Mellon Corp. (a)
|
|
24,500
|
|
640,185
|
|
PNC
Financial Services Group (a)
|
|
3,500
|
|
181,685
|
|
Toronto-Dominion
Bank (Canada)
|
|
10,900
|
|
788,711
|
|
US
Bancorp (a)
|
|
45,900
|
|
992,358
|
|
Wells
Fargo & Co. (a)
|
|
28,900
|
|
726,257
|
|
|
|
|
|
4,659,861
|
|
CREDIT
CARD 1.0%
|
|
|
|
|
|
American
Express Co.
|
|
10,200
|
|
428,706
|
|
Visa-Class A
|
|
15,800
|
|
1,173,308
|
|
|
|
|
|
1,602,014
|
|
DIVERSIFIED
FINANCIAL SERVICE 2.9%
|
|
|
|
|
|
BlackRock
(a)
|
|
2,300
|
|
391,575
|
|
Citigroup
(b)
|
|
158,400
|
|
617,760
|
|
Franklin
Resources (a)
|
|
6,100
|
|
652,090
|
|
Goldman
Sachs Group
|
|
6,800
|
|
983,144
|
|
JPMorgan
Chase & Co. (a)
|
|
41,800
|
|
1,591,326
|
|
Morgan
Stanley (a)
|
|
23,500
|
|
579,980
|
|
|
|
|
|
4,815,875
|
|
INSURANCE
2.1%
|
|
|
|
|
|
Aflac(a)
|
|
17,300
|
|
894,583
|
|
HCC
Insurance Holdings
|
|
23,200
|
|
605,288
|
|
MetLife
|
|
32,400
|
|
1,245,780
|
|
Power
Corp., (Canada)
|
|
29,200
|
|
760,580
|
|
|
|
|
|
3,506,231
|
|
TOTAL
FINANCIAL
|
|
|
|
14,583,981
|
|
HEALTH
CARE 5.9%
|
|
|
|
|
|
HEALTH
CARE PROVIDERS & SERVICES 0.5%
|
|
|
|
|
|
UnitedHealth
Group
|
|
25,100
|
|
881,261
|
|
|
|
|
|
|
|
|
3
|
|
Number
of Shares
|
|
Value
|
|
HEALTHCARE
PRODUCTS 3.0%
|
|
|
|
|
|
Baxter
International(a)
|
|
20,300
|
|
$
|
968,513
|
|
Becton
Dickinson & Co.(a)
|
|
8,400
|
|
622,440
|
|
Covidien
Ltd.
|
|
30,900
|
|
1,241,871
|
|
Johnson &
Johnson(a)
|
|
22,700
|
|
1,406,492
|
|
Medtronic
|
|
22,600
|
|
758,908
|
|
|
|
|
|
4,998,224
|
|
PHARMACEUTICAL
2.4%
|
|
|
|
|
|
Abbott
Laboratories
|
|
20,700
|
|
1,081,368
|
|
Merck &
Co.
|
|
33,300
|
|
1,225,773
|
|
Pfizer
(a)
|
|
91,300
|
|
1,567,621
|
|
|
|
|
|
3,874,762
|
|
TOTAL
HEALTH CARE
|
|
|
|
9,754,247
|
|
INDUSTRIAL
5.4%
|
|
|
|
|
|
AEROSPACE &
DEFENSE 2.6%
|
|
|
|
|
|
Boeing
Co. (a)
|
|
6,200
|
|
412,548
|
|
General
Dynamics Corp. (a)
|
|
16,700
|
|
1,048,927
|
|
L-3
Communications Holdings (a)
|
|
12,700
|
|
917,829
|
|
Lockheed
Martin Corp. (a)
|
|
15,500
|
|
1,104,840
|
|
United
Technologies Corp.
|
|
11,500
|
|
819,145
|
|
|
|
|
|
4,303,289
|
|
DIVERSIFIED
MANUFACTURING 1.7%
|
|
|
|
|
|
3M
Co.
|
|
9,800
|
|
849,758
|
|
General
Electric Co.
|
|
119,600
|
|
1,943,500
|
|
|
|
|
|
2,793,258
|
|
ENVIRONMENTAL
CONTROL 0.3%
|
|
|
|
|
|
Waste
Management
|
|
12,100
|
|
432,454
|
|
|
|
|
|
|
|
|
4
|
|
Number
of Shares
|
|
Value
|
|
TRANSPORTATION
0.8%
|
|
|
|
|
|
Norfolk
Southern Corp. (a)
|
|
11,100
|
|
$
|
660,561
|
|
United
Parcel Service
|
|
10,200
|
|
680,238
|
|
|
|
|
|
1,340,799
|
|
TOTAL
INDUSTRIAL
|
|
|
|
8,869,800
|
|
MATERIALS
1.2%
|
|
|
|
|
|
CHEMICALS
0.8%
|
|
|
|
|
|
Ecolab
|
|
16,800
|
|
852,432
|
|
Sigma-Aldrich
Corp.
|
|
7,600
|
|
458,888
|
|
|
|
|
|
1,311,320
|
|
METALS &
MINING 0.4%
|
|
|
|
|
|
Freeport-McMoRan
Copper & Gold
|
|
8,700
|
|
742,893
|
|
TOTAL
MATERIALS
|
|
|
|
2,054,213
|
|
REAL
ESTATE 48.6%
|
|
|
|
|
|
DIVERSIFIED
4.1%
|
|
|
|
|
|
Duke
Realty Corp.
|
|
98,323
|
|
1,139,564
|
|
Forest
City Enterprises (b)
|
|
128,346
|
|
1,646,679
|
|
Lexington
Realty Trust
|
|
171,700
|
|
1,229,372
|
|
Vornado
Realty Trust
|
|
31,151
|
|
2,664,345
|
|
|
|
|
|
6,679,960
|
|
HEALTH
CARE 6.2%
|
|
|
|
|
|
Brookdale
Senior Living (a),(b)
|
|
79,842
|
|
1,302,223
|
|
Cogdell
Spencer
|
|
106,385
|
|
672,353
|
|
Emeritus
Corp. (b)
|
|
38,100
|
|
649,986
|
|
HCP
|
|
45,200
|
|
1,626,296
|
|
Health
Care REIT
|
|
63,700
|
|
3,015,558
|
|
LTC
Properties
|
|
47,000
|
|
1,199,440
|
|
Nationwide
Health Properties
|
|
43,300
|
|
1,674,411
|
|
|
|
|
|
10,140,267
|
|
|
|
|
|
|
|
|
5
|
|
Number
of Shares
|
|
Value
|
|
HOTEL
2.8%
|
|
|
|
|
|
Chesapeake
Lodging Trust
|
|
57,087
|
|
$
|
933,943
|
|
Hersha
Hospitality Trust
|
|
256,491
|
|
1,328,623
|
|
Host
Hotels & Resorts
|
|
106,068
|
|
1,535,865
|
|
Hyatt
Hotels Corp.-Class A (b)
|
|
21,200
|
|
792,668
|
|
|
|
|
|
4,591,099
|
|
INDUSTRIAL
1.5%
|
|
|
|
|
|
EastGroup
Properties
|
|
19,600
|
|
732,648
|
|
First
Industrial Realty Trust (b)
|
|
11,400
|
|
57,798
|
|
ProLogis
|
|
142,152
|
|
1,674,551
|
|
|
|
|
|
2,464,997
|
|
OFFICE
5.2%
|
|
|
|
|
|
Boston
Properties
|
|
49,000
|
|
4,072,880
|
|
Douglas
Emmett
|
|
102,941
|
|
1,802,497
|
|
Hudson
Pacific Properties
|
|
48,028
|
|
786,218
|
|
Liberty
Property Trust
|
|
44,300
|
|
1,413,170
|
|
SL
Green Realty Corp.
|
|
8,100
|
|
512,973
|
|
|
|
|
|
8,587,738
|
|
OFFICE/INDUSTRIAL
1.6%
|
|
|
|
|
|
PS
Business Parks
|
|
46,200
|
|
2,613,534
|
|
RESIDENTIAL
9.8%
|
|
|
|
|
|
APARTMENT
8.5%
|
|
|
|
|
|
Apartment
Investment & Management Co.
|
|
55,700
|
|
1,190,866
|
|
Associated
Estates Realty Corp.
|
|
96,203
|
|
1,344,918
|
|
AvalonBay
Communities
|
|
18,100
|
|
1,881,133
|
|
BRE
Properties
|
|
52,100
|
|
2,162,150
|
|
Colonial
Properties Trust
|
|
52,300
|
|
846,737
|
|
Equity
Residential
|
|
74,100
|
|
3,524,937
|
|
Home
Properties
|
|
16,504
|
|
873,061
|
|
UDR
|
|
100,132
|
|
2,114,788
|
|
|
|
|
|
13,938,590
|
|
|
|
|
|
|
|
|
6
|
|
Number
of Shares
|
|
Value
|
|
MANUFACTURED
HOME 1.3%
|
|
|
|
|
|
Equity
Lifestyle Properties
|
|
40,500
|
|
$
|
2,206,440
|
|
TOTAL
RESIDENTIAL
|
|
|
|
16,145,030
|
|
SELF
STORAGE 2.4%
|
|
|
|
|
|
Public
Storage
|
|
41,400
|
|
4,017,456
|
|
SHOPPING
CENTER 12.6%
|
|
|
|
|
|
COMMUNITY
CENTER 5.8%
|
|
|
|
|
|
Acadia
Realty Trust
|
|
93,698
|
|
1,780,262
|
|
Developers
Diversified Realty Corp.
|
|
148,944
|
|
1,671,152
|
|
Kimco
Realty Corp.
|
|
135,675
|
|
2,136,881
|
|
Regency
Centers Corp.
|
|
20,700
|
|
817,029
|
|
Tanger
Factory Outlet Centers
|
|
19,700
|
|
928,658
|
|
Urstadt
Biddle Properties-Class A
|
|
39,213
|
|
708,971
|
|
Weingarten
Realty Investors
|
|
70,000
|
|
1,527,400
|
|
|
|
|
|
9,570,353
|
|
FREE
STANDING 0.5%
|
|
|
|
|
|
Excel
Trust
|
|
68,400
|
|
770,868
|
|
REGIONAL
MALL 6.3%
|
|
|
|
|
|
Macerich
Co.
|
|
54,106
|
|
2,323,853
|
|
Simon
Property Group
|
|
87,171
|
|
8,084,238
|
|
|
|
|
|
10,408,091
|
|
TOTAL
SHOPPING CENTER
|
|
|
|
20,749,312
|
|
SPECIALTY
2.4%
|
|
|
|
|
|
Digital
Realty Trust
|
|
19,789
|
|
1,220,981
|
|
DuPont
Fabros Technology
|
|
50,449
|
|
1,268,793
|
|
Rayonier
|
|
29,600
|
|
1,483,552
|
|
|
|
|
|
3,973,326
|
|
TOTAL
REAL ESTATE
|
|
|
|
79,962,719
|
|
|
|
|
|
|
|
|
7
|
|
Number
of Shares
|
|
Value
|
|
TECHNOLOGY
9.2%
|
|
|
|
|
|
COMPUTERS
1.5%
|
|
|
|
|
|
Hewlett-Packard
Co.
|
|
25,600
|
|
$
|
1,076,992
|
|
International
Business Machines Corp.
|
|
10,800
|
|
1,448,712
|
|
|
|
|
|
2,525,704
|
|
INTERNET
SERVICE PROVIDER 0.5%
|
|
|
|
|
|
Google
(b)
|
|
1,600
|
|
841,264
|
|
IT
SERVICES 0.5%
|
|
|
|
|
|
Automatic
Data Processing (a)
|
|
19,500
|
|
819,585
|
|
SEMICONDUCTORS
2.0%
|
|
|
|
|
|
Intel
Corp. (a)
|
|
58,600
|
|
1,126,878
|
|
Microchip
Technology (a)
|
|
14,100
|
|
443,445
|
|
Texas
Instruments
|
|
64,800
|
|
1,758,672
|
|
|
|
|
|
3,328,995
|
|
SOFTWARE
2.7%
|
|
|
|
|
|
Microsoft
Corp. (a)
|
|
82,200
|
|
2,013,078
|
|
Oracle
Corp.
|
|
89,100
|
|
2,392,335
|
|
|
|
|
|
4,405,413
|
|
TELECOMMUNICATION
EQUIPMENT 2.0%
|
|
|
|
|
|
Corning
|
|
64,500
|
|
1,179,060
|
|
Harris
Corp.
|
|
18,600
|
|
823,794
|
|
QUALCOMM
|
|
27,300
|
|
1,231,776
|
|
|
|
|
|
3,234,630
|
|
TOTAL
TECHNOLOGY
|
|
|
|
15,155,591
|
|
TELECOMMUNICATION
SERVICES 1.3%
|
|
|
|
|
|
AT&T
(a)
|
|
54,400
|
|
1,555,840
|
|
Verizon
Communications
|
|
20,400
|
|
664,836
|
|
|
|
|
|
2,220,676
|
|
UTILITIES
2.1%
|
|
|
|
|
|
ELECTRIC
UTILITIES 0.5%
|
|
|
|
|
|
NextEra
Energy
|
|
15,500
|
|
843,045
|
|
|
|
|
|
|
|
|
8
|
|
Number
of Shares
|
|
Value
|
|
MULTI
UTILITIES 1.6%
|
|
|
|
|
|
PG&E
Corp.
|
|
17,600
|
|
$
|
799,392
|
|
Sempra
Energy
|
|
15,600
|
|
839,280
|
|
Wisconsin
Energy Corp.
|
|
17,900
|
|
1,034,620
|
|
|
|
|
|
2,673,292
|
|
TOTAL
UTILITIES
|
|
|
|
3,516,337
|
|
TOTAL
COMMON STOCK (Identified cost$140,593,744)
|
|
|
|
163,068,398
|
|
SHORT-TERM
INVESTMENTS 1.4%
|
|
|
|
|
|
MONEY
MARKET FUNDS
|
|
|
|
|
|
Federated
Government Obligations Fund, 0.06%(c)
|
|
1,150,380
|
|
1,150,380
|
|
State
Street Institutional Liquid Reserves Fund, 0.26%(c)
|
|
1,151,543
|
|
1,151,543
|
|
TOTAL SHORT-TERM
INVESTMENTS (Identified cost$2,301,923)
|
|
|
|
2,301,923
|
|
|
|
|
|
|
|
TOTAL
INVESTMENTS (Identified cost$142,895,667)
|
|
100.5
|
%
|
|
|
165,370,321
|
|
|
|
|
|
|
|
|
|
WRITTEN
CALL OPTIONS
|
|
(0.5
|
)
|
|
|
(795,860
|
)
|
|
|
|
|
|
|
|
|
LIABILITIES
IN EXCESS OF OTHER ASSETS
|
|
0.0
|
|
|
|
(43,635
|
)
|
|
|
|
|
|
|
|
|
NET
ASSETS (Equivalent to $13.03 per share based on 12,625,748 shares of common
stock outstanding)
|
|
100.0
|
%
|
|
|
$
|
164,530,826
|
|
9
|
|
Number of
Contracts
|
|
Value
|
|
WRITTEN
CALL OPTIONS
|
|
|
|
|
|
S&P
500 Index, Strike Price 1,135, 10/16/10 (0.5)%
|
|
88
|
|
$
|
(195,360
|
)
|
S&P
500 Index, Strike Price 1,140, 10/16/10
|
|
124
|
|
(223,200
|
)
|
S&P
500 Index, Strike Price 1,130, 10/16/10
|
|
154
|
|
(377,300
|
)
|
TOTAL
WRITTEN CALL OPTIONS
(Premiums Received$644,352)
|
|
|
|
$
|
(795,860
|
)
|
Glossary
of Portfolio Abbreviation
|
|
REIT
|
|
Real Estate Investment
Trust
|
Note:
Percentages indicated are based on the net assets of the Fund.
(a) All
or a portion of the security is pledged
in connection with written option contracts: $ 20,579,252 has been pledged to
brokers.
(b) Non-income
producing security.
(c) Rate
quoted represents the seven day yield of the fund.
10
COHEN & STEERS
DIVIDEND MAJORS FUND, INC.
NOTES TO FINANCIAL
STATEMENTS (Unaudited)
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 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.
If after the close of a foreign market, but prior to the close of business on
the day the securities are being valued, market conditions change
significantly, certain foreign securities may be fair valued pursuant to
procedures established by the Board of Directors.
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, are valued at the official closing prices as reported by
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.
Securities
for which market prices are unavailable, or securities for which the investment
manager determines that the 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, but are not limited to, 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.
11
COHEN & STEERS
DIVIDEND MAJORS FUND, INC.
NOTES TO FINANCIAL
STATEMENTS (Unaudited) (Continued)
Short-term
debt securities with a maturity date of 60 days or less are valued at amortized
cost, which approximates value. Investments in open-end mutual funds are valued
at their closing net asset value.
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. The hierarchy of inputs that are used in
determining the fair value of the Funds investments 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, 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 September 30, 2010 in
valuing the Funds investments carried at value:
|
|
Total
|
|
Quoted Prices In
Active Market for
Identical Assets
(Level 1)
|
|
Significant
Other
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Common Stock
|
|
$
|
163,068,398
|
|
$
|
163,068,398
|
|
$
|
|
|
|
|
Money Market Funds
|
|
2,301,923
|
|
|
|
2,301,923
|
|
|
|
Total Investments
|
|
$
|
165,370,321
|
|
$
|
163,068,398
|
|
$
|
2,301,923
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments*
|
|
$
|
(795,860
|
)
|
$
|
(795,860
|
)
|
|
|
|
|
*
Other financial instruments are written option contracts.
12
COHEN & STEERS
DIVIDEND MAJORS FUND, INC.
NOTES TO FINANCIAL
STATEMENTS (Unaudited) (Continued)
Note 2
.
Derivative Instruments:
The
following is a summary of the market valuations of the Funds derivative
instruments as of September 30, 2010:
Written Option Contracts
|
|
$
|
(795,860
|
)
|
Options:
The Fund may
write put or covered call options on an index or a security with the intention
of earning option premiums. Option premiums may increase the Funds realized
gains and therefore 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
on the option to the extent of the premiums received. Premiums received from
writing options which are exercised or closed, are added to or offset against
the proceeds or amount paid on the transaction to determine the realized gain
or loss. If a put option on a security
is exercised, the premium reduces the cost basis of the securities purchased by
the Fund. 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 September 30,
2010, the federal tax cost and net unrealized appreciation on securities were
as follows:
Gross
unrealized appreciation
|
|
$
|
25,458,051
|
|
Gross
unrealized depreciation
|
|
(2,983,397
|
)
|
Net
unrealized appreciation
|
|
$
|
22,474,654
|
|
|
|
|
|
Cost
for federal income tax purposes
|
|
$
|
142,895,667
|
|
13
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:
November 24, 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/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:
November 24, 2010
|
|
|
|
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