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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Rmr Div Cptre FD Common Shrs | AMEX:RCR | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
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 |
811-22079 |
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RMR DIVIDEND CAPTURE FUND |
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(Exact name of registrant as specified in charter) |
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400 CENTRE STREET NEWTON, MASSACHUSETTS |
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02458 |
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(Address of principal executive offices) |
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(Zip code) |
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Adam D. Portnoy, President
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(Name and address of agent for service) |
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Copy to:
Brian D. OSullivan State Street Bank and Trust Company 801 Pennsylvania Avenue, Tower II, 4 th Floor Kansas City, Missouri 64102
Julie A Tedesco, Esq. State Street Bank and Trust Company 4 Copley Place, 5 th Floor Boston, MA 02116 |
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Registrants telephone number, including area code: |
(617) 332-9530 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
March 31, 2009 |
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RMR Dividend Capture Fund
Portfolio of Investments March 31, 2009 (unaudited)
Company |
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Shares |
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Value |
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Common Stocks 80.8% |
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Real Estate Investment Trusts 80.8% |
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Apartments 9.0% |
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Apartment Investment & Management Co. |
|
100 |
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$ |
548 |
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Associated Estates Realty Corp. |
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5,000 |
|
28,400 |
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AvalonBay Communities, Inc. |
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103 |
|
4,847 |
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Home Properties, Inc. |
|
100 |
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3,065 |
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Mid-America Apartment Communities, Inc. |
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3,000 |
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92,490 |
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UDR, Inc. |
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3,000 |
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25,830 |
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|
|
|
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155,180 |
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Diversified 13.8% |
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Colonial Properties Trust |
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8,800 |
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33,528 |
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Cousins Properties, Inc. |
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5,000 |
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32,200 |
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Duke Realty Corp. |
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16,100 |
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88,550 |
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Lexington Corporate Properties Trust |
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33,883 |
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80,642 |
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Vornado Realty Trust |
|
101 |
|
3,357 |
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|
|
|
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238,277 |
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Health Care 8.2% |
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Cogdell Spencer, Inc. |
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6,700 |
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34,170 |
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Health Care REIT, Inc. |
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200 |
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6,118 |
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Medical Properties Trust, Inc. |
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27,000 |
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98,550 |
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Nationwide Health Properties, Inc. |
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100 |
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2,219 |
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OMEGA Healthcare Investors, Inc. |
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100 |
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1,408 |
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|
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142,465 |
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Hospitality 12.6% |
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DiamondRock Hospitality Co. |
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20,000 |
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80,200 |
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Entertainment Properties Trust |
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1,500 |
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23,640 |
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Hersha Hospitality Trust |
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60,490 |
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114,931 |
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218,771 |
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Industrial 0.2% |
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EastGroup Properties, Inc. |
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100 |
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2,807 |
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Office 12.4% |
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BioMed Realty Trust, Inc. |
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4,000 |
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27,080 |
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Brandywine Realty Trust |
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23,000 |
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65,550 |
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Corporate Office Properties Trust |
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100 |
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2,483 |
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Highwoods Properties, Inc. |
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2,500 |
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53,550 |
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Kilroy Realty Corp. |
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2,500 |
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42,975 |
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Mack-Cali Realty Corp. |
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100 |
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1,981 |
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SL Green Realty Corp. |
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1,900 |
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20,520 |
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214,139 |
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Retail 20.2% |
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CBL & Associates Properties, Inc. |
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17,200 |
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40,592 |
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Equity One, Inc. |
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100 |
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1,219 |
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Kimco Realty Corp. |
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7,500 |
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57,150 |
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Realty Income Corp. |
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2,800 |
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52,696 |
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Regency Centers Corp. |
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2,000 |
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53,140 |
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Simon Property Group, Inc. |
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1,535 |
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53,172 |
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Tanger Factory Outlet Centers, Inc. |
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100 |
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3,086 |
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The Macerich Co. |
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8,000 |
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50,080 |
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Weingarten Realty Investors |
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4,000 |
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38,080 |
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349,215 |
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See notes to portfolio of investments.
Company |
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Shares |
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Value |
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Common Stocks continued |
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Real Estate Investment Trusts continued |
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Storage 4.4% |
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Extra Space Storage, Inc. |
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8,000 |
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$ |
44,080 |
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Public Storage, Inc. |
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100 |
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5,525 |
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Sovran Self Storage, Inc. |
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100 |
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2,008 |
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Sun Communities, Inc. |
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100 |
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1,183 |
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U-Store-It Trust |
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12,000 |
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24,240 |
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77,036 |
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Total Real Estate Investment Trusts (Cost $3,775,514) |
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1,397,890 |
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Total Common Stocks (Cost $3,775,514) |
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1,397,890 |
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Other Investment Companies 49.5% |
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Blackrock Preferred and Equity Advantage Trust |
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19,336 |
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122,397 |
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Cohen & Steers Advantage Income Realty Fund, Inc. |
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52,500 |
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104,475 |
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Cohen & Steers Premium Income Realty Fund, Inc. |
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7,177 |
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13,493 |
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Cohen & Steers REIT and Utility Income Fund, Inc. |
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24,384 |
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105,095 |
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DWS RREEF Real Estate Fund II, Inc. |
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94,150 |
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40,484 |
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Eaton Vance Enhanced Equity Income Fund II |
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12,100 |
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118,338 |
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Neuberger Berman Real Estate Securities Income Fund, Inc. |
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30,000 |
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37,800 |
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Nicholas-Applegate Convertible & Income Fund II |
|
504 |
|
2,092 |
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Nuveen Floating Rate Income Fund |
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20,185 |
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118,486 |
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Nuveen Real Estate Income Fund |
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3,700 |
|
13,283 |
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Ultra Real Estate ProShares |
|
7,900 |
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19,355 |
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UltraShort Real Estate ProShares |
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750 |
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39,548 |
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Western Asset Emerging Markets Debt Fund, Inc. |
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10,293 |
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121,457 |
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Total Other Investment Companies (Cost $3,489,968) |
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856,303 |
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Short-Term Investments 11.6% |
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Other Investment Companies 11.6% |
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Dreyfus Cash Management, Institutional Shares, 0.74% (a) (Cost $201,083) |
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201,083 |
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201,083 |
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Total Investments 141.9% (Cost $7,466,565) (b) |
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2,455,276 |
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Other assets less liabilities (2.9)% |
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(50,288 |
) |
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Preferred Shares, at liquidation preference (39.0)% |
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(675,000 |
) |
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Net Assets applicable to common shareholders 100% |
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$ |
1,729,988 |
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Notes to Portfolio of Investments |
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(a) |
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Rate reflects 7 day yield as of March 31, 2009. |
(b) |
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Although subject to adjustments to the extent 2009 distributions by the issuers of the Funds investments are characterized as return of capital, the cost, gross unrealized appreciation and gross unrealized depreciation of the Funds investments for federal income tax purposes, as of March 31, 2009, are as follows: |
Cost |
|
$ |
7,466,565 |
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|
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Gross unrealized appreciation |
|
$ |
10,135 |
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|
|
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Gross unrealized depreciation |
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(5,021,424 |
) |
|
|
|
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Net unrealized depreciation |
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$ |
(5,011,289 |
) |
Reference should be made to the Funds financial statements for the year ended December 31, 2008, for further information concerning the income tax characterization of the Funds investment income and distributions.
Fair Value Measurements
Under Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements, or FAS 157, fair value is defined as the price that the Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. FAS 157 established a three tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entitys own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
The following is a summary of the inputs used as of March 31, 2009, in valuing the Funds investments carried at value:
Valuation Inputs |
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Investments in
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Level 1 Quoted prices |
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$ |
2,455,276 |
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Level 2 Other significant observable inputs |
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Level 3 Significant unobservable inputs |
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Total |
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$ |
2,455,276 |
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There were no investments in securities characterized as Level 2 or Level 3 on December 31, 2008, or March 31, 2009.
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, as amended (the 1940 Act)), are effective, as of a date within 90 days of the filing date of this report, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.
(b) There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 3. Exhibits.
(a)(1) Certification of Principal Executive Officer, as required by Rule 30a-2(a) under the 1940 Act.
(a)(2) Certification of Principal Financial Officer, as required by Rule 30a-2(a) under the 1940 Act.
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.
RMR DIVIDEND CAPTURE FUND
By: |
/s/ Adam D. Portnoy |
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Adam D. Portnoy |
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President |
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Date: |
May 22, 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 D. Portnoy |
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Adam D. Portnoy |
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President |
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Date: |
May 22, 2009 |
By: |
/s/ Mark L. Kleifges |
|
|
Mark L. Kleifges |
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Treasurer |
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Date: |
May 22, 2009 |
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