- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
26 May 2012 - 4:04AM
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
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Investment Company Act file number
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811-21633
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Cohen & Steers Dividend Majors Fund, Inc.
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(Exact name of registrant as specified in charter)
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280 Park Avenue
New York, NY
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10017
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(Address of principal executive offices)
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(Zip code)
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Tina M. Payne
280 Park Avenue
New York, NY 10017
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(Name and address of agent for service)
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Registrant’s telephone number, including area code:
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(212) 832-3232
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Date of fiscal year end:
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December 31
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Date of reporting period:
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March 31, 2012
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Item 1. Schedule of Investments
Cohen & Steers Dividend Majors Fund, Inc.
SCHEDULE OF INVESTMENTS
March 31, 2012 (Unaudited)
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Number
of Shares
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Value
|
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COMMON STOCK 99.7%
|
|
|
|
|
|
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CONSUMER—CYCLICAL 5.9%
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|
|
|
|
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APPAREL 0.3%
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|
|
|
|
|
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NIKE
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5,500
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$
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596,420
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AUTO PARTS EQUIPMENT 0.5%
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|
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Johnson Controls
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|
29,900
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|
971,152
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|
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LEISURE TIME 0.2%
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|
|
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Carnival Corp.
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11,500
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368,920
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MEDIA 1.8%
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|
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News Corp., Class A
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12,000
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236,280
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The Walt Disney Co. (a)
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49,200
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2,153,976
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Time Warner Cable
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12,100
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986,150
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3,376,406
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RESTAURANT 1.6%
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McDonald’s Corp. (a)
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20,400
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2,001,240
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Tim Hortons (Canada)
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19,800
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1,059,229
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3,060,469
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RETAIL 1.1%
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|
|
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Nordstrom
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17,700
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986,244
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Ross Stores
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16,800
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976,080
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1,962,324
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SPECIALTY RETAIL 0.4%
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PetSmart
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5,300
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303,266
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Tiffany & Co.
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6,500
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449,345
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752,611
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TOTAL CONSUMER—CYCLICAL
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11,088,302
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CONSUMER—NON-CYCLICAL 4.5%
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AGRICULTURE 1.2%
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Philip Morris International (a)
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25,000
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2,215,250
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1
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Number
of Shares
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Value
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BEVERAGE 0.6%
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|
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PepsiCo
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16,300
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$
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1,081,505
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COSMETICS/PERSONAL CARE 0.7%
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Procter & Gamble Co. (a)
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21,300
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1,431,573
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RETAIL 2.0%
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Costco Wholesale Corp.
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14,100
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1,280,280
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CVS Caremark Corp. (a)
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42,200
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1,890,560
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Wal-Mart Stores
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9,200
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563,040
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3,733,880
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TOTAL CONSUMER— NON-CYCLICAL
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8,462,208
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ENERGY 6.2%
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OIL & GAS 5.7%
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Apache Corp. (a)
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11,600
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1,165,104
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Chevron Corp. (a)
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25,200
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2,702,448
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Devon Energy Corp. (a)
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19,900
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1,415,288
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Exxon Mobil Corp. (a)
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31,600
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2,740,668
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Marathon Petroleum Corp.
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21,500
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932,240
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Occidental Petroleum Corp.
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18,200
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1,733,186
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10,688,934
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OIL & GAS SERVICES 0.5%
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Schlumberger Ltd.
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14,400
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1,006,992
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TOTAL ENERGY
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11,695,926
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FINANCIAL 7.8%
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BANK 2.6%
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Bank of America Corp.
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56,300
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538,791
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Bank of New York Mellon Corp. (a)
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17,500
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422,275
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Comerica
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25,500
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825,180
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Toronto-Dominion Bank (Canada)
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6,900
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585,647
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US Bancorp
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38,400
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1,216,512
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Wells Fargo & Co.
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39,000
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1,331,460
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4,919,865
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2
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Number
of Shares
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Value
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CREDIT CARD 0.8%
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American Express Co. (a)
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24,900
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$
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1,440,714
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DIVERSIFIED FINANCIAL SERVICES 2.5%
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Citigroup (a)
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22,700
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829,685
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Franklin Resources
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7,300
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905,419
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Goldman Sachs Group
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3,400
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422,858
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JPMorgan Chase & Co. (a)
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57,400
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2,639,252
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4,797,214
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INSURANCE 1.9%
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Aflac(a)
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10,100
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464,499
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Chubb Corp.(a)
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10,300
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711,833
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Power Corp. (Canada)
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32,600
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864,148
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Prudential Financial
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23,600
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1,496,004
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3,536,484
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TOTAL FINANCIAL
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14,694,277
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HEALTH CARE 5.5%
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BIOTECHNOLOGY 0.3%
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Amgen (a)
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7,000
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475,930
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HEALTH CARE PROVIDERS & SERVICES 1.2%
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UnitedHealth Group (a)
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38,100
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2,245,614
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HEALTHCARE PRODUCTS 2.1%
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Becton Dickinson & Co.(a)
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10,600
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823,090
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Covidien PLC
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30,900
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1,689,612
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Johnson & Johnson(a)
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15,000
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989,400
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Patterson Cos.
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15,100
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504,340
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4,006,442
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3
|
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Number
of Shares
|
|
Value
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PHARMACEUTICAL 1.9%
|
|
|
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Abbott Laboratories (a)
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23,800
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$
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1,458,702
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Merck & Co. (a)
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33,900
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1,301,760
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Pfizer
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39,400
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892,804
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3,653,266
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TOTAL HEALTH CARE
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10,381,252
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INDUSTRIAL 4.9%
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AEROSPACE & DEFENSE 1.5%
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|
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General Dynamics Corp.
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3,200
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234,816
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L-3 Communications Holdings (a)
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13,100
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927,087
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Lockheed Martin Corp. (a)
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8,000
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718,880
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United Technologies Corp.
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12,100
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1,003,574
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2,884,357
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DIVERSIFIED MANUFACTURING 1.2%
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|
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Eaton Corp.
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15,300
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762,399
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General Electric Co.
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74,800
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1,501,236
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2,263,635
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ELECTRICAL EQUIPMENT 0.7%
|
|
|
|
|
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Emerson Electric Co.
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24,100
|
|
1,257,538
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|
MACHINERY 0.2%
|
|
|
|
|
|
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Finning International (Canada)
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16,200
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|
446,152
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TRANSPORTATION 1.3%
|
|
|
|
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Norfolk Southern Corp.
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13,800
|
|
908,454
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United Parcel Service
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|
19,400
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|
1,565,968
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2,474,422
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TOTAL INDUSTRIAL
|
|
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9,326,104
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4
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Number
of Shares
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Value
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MATERIALS 1.4%
|
|
|
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CHEMICALS 0.8%
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|
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Dow Chemical Co.
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23,700
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$
|
820,968
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|
|
Potash Corp. of Saskatchewan (Canada)
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|
16,000
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|
730,503
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|
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|
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1,551,471
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METALS & MINING 0.6%
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|
|
|
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Freeport-McMoRan Copper & Gold
|
|
12,300
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|
467,892
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|
|
Newmont Mining Corp.
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|
13,700
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|
702,399
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1,170,291
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TOTAL MATERIALS
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2,721,762
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REAL ESTATE 50.4%
|
|
|
|
|
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DIVERSIFIED 2.1%
|
|
|
|
|
|
|
American Assets Trust
|
|
33,262
|
|
758,374
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|
|
Select Income REIT (b)
|
|
21,800
|
|
492,244
|
|
|
Vornado Realty Trust
|
|
33,251
|
|
2,799,734
|
|
|
|
|
|
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4,050,352
|
|
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HEALTH CARE 4.7%
|
|
|
|
|
|
|
Brookdale Senior Living (b)
|
|
25,900
|
|
484,848
|
|
|
HCP
|
|
112,863
|
|
4,453,574
|
|
|
Healthcare Realty Trust
|
|
73,900
|
|
1,625,800
|
|
|
Senior Housing Properties Trust
|
|
43,400
|
|
956,970
|
|
|
Ventas
|
|
22,700
|
|
1,296,170
|
|
|
|
|
|
|
8,817,362
|
|
|
HOTEL 3.9%
|
|
|
|
|
|
|
Hersha Hospitality Trust
|
|
275,539
|
|
1,504,443
|
|
|
Host Hotels & Resorts
|
|
143,468
|
|
2,355,744
|
|
|
Hyatt Hotels Corp., Class A (b)
|
|
34,512
|
|
1,474,353
|
|
|
Starwood Hotels & Resorts Worldwide
|
|
17,600
|
|
992,816
|
|
|
Strategic Hotels & Resorts (b)
|
|
144,600
|
|
951,468
|
|
|
|
|
|
|
7,278,824
|
|
|
|
|
|
|
|
|
|
5
|
|
|
Number
of Shares
|
|
Value
|
|
|
INDUSTRIAL 3.5%
|
|
|
|
|
|
|
DCT Industrial Trust
|
|
191,900
|
|
$
|
1,132,210
|
|
|
First Industrial Realty Trust (b)
|
|
54,200
|
|
669,370
|
|
|
ProLogis
|
|
135,389
|
|
4,876,712
|
|
|
|
|
|
|
6,678,292
|
|
|
OFFICE 8.8%
|
|
|
|
|
|
|
Alexandria Real Estate Equities
|
|
25,300
|
|
1,850,189
|
|
|
BioMed Realty Trust
|
|
32,600
|
|
618,748
|
|
|
Boston Properties
|
|
36,400
|
|
3,821,636
|
|
|
Brandywine Realty Trust
|
|
85,100
|
|
976,948
|
|
|
Brookfield Office Properties (Canada)(USD)
|
|
30,200
|
|
526,990
|
|
|
Douglas Emmett
|
|
42,800
|
|
976,268
|
|
|
Hudson Pacific Properties
|
|
73,276
|
|
1,108,666
|
|
|
Kilroy Realty Corp.
|
|
55,263
|
|
2,575,808
|
|
|
Liberty Property Trust
|
|
27,700
|
|
989,444
|
|
|
SL Green Realty Corp.
|
|
42,091
|
|
3,264,157
|
|
|
|
|
|
|
16,708,854
|
|
|
OFFICE/INDUSTRIAL 0.5%
|
|
|
|
|
|
|
PS Business Parks
|
|
14,800
|
|
969,992
|
|
|
RESIDENTIAL 9.8%
|
|
|
|
|
|
|
APARTMENT 9.1%
|
|
|
|
|
|
|
American Campus Communities
|
|
33,685
|
|
1,506,393
|
|
|
Apartment Investment & Management Co.
|
|
55,700
|
|
1,471,037
|
|
|
AvalonBay Communities
|
|
15,500
|
|
2,190,925
|
|
|
Colonial Properties Trust
|
|
70,900
|
|
1,540,657
|
|
|
Education Realty Trust
|
|
135,739
|
|
1,471,411
|
|
|
Equity Residential
|
|
90,971
|
|
5,696,604
|
|
|
Essex Property Trust
|
|
12,800
|
|
1,939,328
|
|
|
Mid-America Apartment Communities
|
|
20,800
|
|
1,394,224
|
|
|
|
|
|
|
17,210,579
|
|
|
MANUFACTURED HOME 0.7%
|
|
|
|
|
|
|
Equity Lifestyle Properties
|
|
18,831
|
|
1,313,274
|
|
|
|
|
|
|
|
|
|
6
|
|
|
Number
of Shares
|
|
Value
|
|
|
TOTAL RESIDENTIAL
|
|
|
|
$
|
18,523,853
|
|
|
SELF STORAGE 4.0%
|
|
|
|
|
|
|
CubeSmart
|
|
178,200
|
|
2,120,580
|
|
|
Extra Space Storage
|
|
53,900
|
|
1,551,781
|
|
|
Public Storage
|
|
18,400
|
|
2,542,328
|
|
|
Sovran Self Storage
|
|
25,400
|
|
1,265,682
|
|
|
|
|
|
|
7,480,371
|
|
|
SHOPPING CENTER 12.6%
|
|
|
|
|
|
|
COMMUNITY CENTER 4.4%
|
|
|
|
|
|
|
Acadia Realty Trust
|
|
41,998
|
|
946,635
|
|
|
Federal Realty Investment Trust
|
|
15,394
|
|
1,489,985
|
|
|
Regency Centers Corp.
|
|
55,310
|
|
2,460,189
|
|
|
Tanger Factory Outlet Centers
|
|
63,900
|
|
1,899,747
|
|
|
Weingarten Realty Investors
|
|
59,966
|
|
1,584,901
|
|
|
|
|
|
|
8,381,457
|
|
|
REGIONAL MALL 8.2%
|
|
|
|
|
|
|
General Growth Properties
|
|
114,099
|
|
1,938,542
|
|
|
Simon Property Group
|
|
82,871
|
|
12,072,647
|
|
|
Taubman Centers
|
|
19,300
|
|
1,407,935
|
|
|
|
|
|
|
15,419,124
|
|
|
TOTAL SHOPPING CENTER
|
|
|
|
23,800,581
|
|
|
SPECIALTY 0.5%
|
|
|
|
|
|
|
Digital Realty Trust
|
|
13,100
|
|
969,007
|
|
|
TOTAL REAL ESTATE
|
|
|
|
95,277,488
|
|
|
TECHNOLOGY 10.2%
|
|
|
|
|
|
|
COMPUTERS 2.6%
|
|
|
|
|
|
|
Apple (a),(b)
|
|
6,100
|
|
3,656,767
|
|
|
International Business Machines Corp.
|
|
5,900
|
|
1,231,035
|
|
|
|
|
|
|
4,887,802
|
|
|
|
|
|
|
|
|
|
7
|
|
|
Number
of Shares
|
|
Value
|
|
|
INTERNET SERVICE PROVIDER 1.0%
|
|
|
|
|
|
|
Google (b)
|
|
2,900
|
|
$
|
1,859,596
|
|
|
SEMICONDUCTORS 0.7%
|
|
|
|
|
|
|
Avago Technologies Ltd. (Singapore)(USD)
|
|
14,200
|
|
553,374
|
|
|
Intel Corp.
|
|
26,500
|
|
744,915
|
|
|
|
|
|
|
1,298,289
|
|
|
SERVICES 1.1%
|
|
|
|
|
|
|
Visa, Class A (a)
|
|
18,100
|
|
2,135,800
|
|
|
SOFTWARE 2.7%
|
|
|
|
|
|
|
Microsoft Corp.
|
|
33,800
|
|
1,090,050
|
|
|
Oracle Corp. (a)
|
|
88,200
|
|
2,571,912
|
|
|
Symantec Corp. (b)
|
|
78,200
|
|
1,462,340
|
|
|
|
|
|
|
5,124,302
|
|
|
TELECOMMUNICATION EQUIPMENT 2.1%
|
|
|
|
|
|
|
Cisco Systems
|
|
35,200
|
|
744,480
|
|
|
Harris Corp.
|
|
10,200
|
|
459,816
|
|
|
QUALCOMM (a)
|
|
39,500
|
|
2,686,790
|
|
|
|
|
|
|
3,891,086
|
|
|
TOTAL TECHNOLOGY
|
|
|
|
19,196,875
|
|
|
TELECOMMUNICATION SERVICES 1.3%
|
|
|
|
|
|
|
AT&T
|
|
39,400
|
|
1,230,462
|
|
|
Rogers Communications (Canada)
|
|
30,100
|
|
1,195,007
|
|
|
|
|
|
|
2,425,469
|
|
|
UTILITIES 1.6%
|
|
|
|
|
|
|
ELECTRIC UTILITIES 0.5%
|
|
|
|
|
|
|
NextEra Energy
|
|
16,700
|
|
1,020,036
|
|
|
|
|
|
|
|
|
|
8
|
|
|
|
|
Number
of Shares
|
|
Value
|
|
|
MULTI UTILITIES 1.1%
|
|
|
|
|
|
|
|
|
PG&E Corp.
|
|
|
|
10,600
|
|
$
|
460,146
|
|
|
Wisconsin Energy Corp.
|
|
|
|
44,100
|
|
1,551,438
|
|
|
|
|
|
|
|
|
2,011,584
|
|
|
TOTAL UTILITIES
|
|
|
|
|
|
3,031,620
|
|
|
TOTAL COMMON STOCK (Identified cost—$141,512,713)
|
|
|
|
|
|
188,301,283
|
|
|
SHORT-TERM INVESTMENTS 1.1%
|
|
|
|
|
|
|
|
|
MONEY MARKET FUNDS
|
|
|
|
|
|
|
|
|
BlackRock Liquidity Funds: FedFund, 0.01%(c)
|
|
|
|
1,050,067
|
|
1,050,067
|
|
|
Federated Government Obligations Fund, 0.01%(c)
|
|
|
|
1,000,049
|
|
1,000,049
|
|
|
TOTAL SHORT-TERM INVESTMENTS (Identified cost—$2,050,116)
|
|
|
|
|
|
2,050,116
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS (Identified cost—$143,562,829)
|
|
100.8
|
%
|
|
|
190,351,399
|
|
|
|
|
|
|
|
|
|
|
|
WRITTEN CALL OPTIONS
|
|
(0.4
|
)
|
|
|
(789,426
|
)
|
|
|
|
|
|
|
|
|
|
|
9
|
|
|
|
|
|
|
Value
|
|
|
LIABILITIES IN EXCESS OF OTHER ASSETS
|
|
(0.4
|
)%
|
|
|
$
|
(697,609
|
)
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS (Equivalent to $14.96 per share based on 12,621,954 shares of common stock outstanding)
|
|
100.0
|
%
|
|
|
$
|
188,864,364
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Contracts
|
|
|
|
|
WRITTEN CALL OPTIONS (0.4)%
|
|
|
|
|
|
|
S&P 500 Index, USD Strike Price 1,380, 4/21/12
|
|
72
|
|
$
|
(257,976
|
)
|
|
S&P 500 Index, USD Strike Price 1,385, 4/21/12
|
|
50
|
|
(161,850
|
)
|
|
S&P 500 Index, USD Strike Price 1,400, 4/21/12
|
|
48
|
|
(100,800
|
)
|
|
S&P 500 Index, USD Strike Price 1,405, 4/21/12
|
|
96
|
|
(172,800
|
)
|
|
S&P 500 Index, USD Strike Price 1,410, 4/21/12
|
|
64
|
|
(96,000
|
)
|
|
TOTAL WRITTEN CALL OPTIONS
(Premiums Received—$654,178)
|
|
|
|
$
|
(789,426
|
)
|
Glossary of Portfolio Abbreviations
|
|
REIT
|
Real Estate Investment Trust
|
|
|
USD
|
United States Dollar
|
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: $16,868,331 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 on such 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 when such prices are believed by Cohen & Steers Capital Management, Inc. (the investment manager), pursuant to delegation by the Board of Directors, to reflect the fair market value.
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 as reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. 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 the investment manager to be over-the-counter, are valued at the last sale price as reported by sources deemed appropriate by the Board of Directors 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 on such day or, if no asked price is available, at the bid price.
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.
Under procedures approved by the Fund’s Board of Directors, the investment manager has formed a Valuation Committee. The Valuation Committee provides administration and oversight of the Fund’s valuation policies and procedures which are approved annually by the Fund’s Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or asked price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s 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
Cohen & Steers Dividend Majors Fund, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
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 Fund’s 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.
Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to 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 Fund’s 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 Fund’s 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.
For movements between the levels within the fair value hierarchy, the Fund has adopted a policy of recognizing the transfer at the beginning of the period in which the underlying event causing the movement occurred. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. There were no transfers between Level 1 and Level 2 securities during the period ended March 31, 2012.
The following is a summary of the inputs used as of March 31, 2012 in valuing the Fund’s investments carried at value:
|
|
|
Total
|
|
Quoted Prices
In Active
Markets for
Identical
Investments
(Level 1)
|
|
Other
Significant
Observable
Inputs
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
|
Common Stock
|
|
$
|
188,301,283
|
|
$
|
188,301,283
|
|
$
|
—
|
|
$
|
—
|
|
|
Money Market Funds
|
|
2,050,116
|
|
—
|
|
2,050,116
|
|
—
|
|
|
Total Investments
(a)
|
|
$
|
190,351,399
|
|
$
|
188,301,283
|
|
$
|
2,050,116
|
|
—
|
|
|
Depreciation in Other Financial Instruments
|
|
|
|
|
|
|
|
|
|
|
Written call options
|
|
(789,426
|
)
|
(789,426
|
)
|
—
|
|
—
|
|
|
Total Depreciation in Other Financial Instruments (a)
|
|
$
|
(789,426
|
)
|
$
|
(789,426
|
)
|
$
|
—
|
|
$
|
—
|
|
Cohen & Steers Dividend Majors Fund, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
(a) Portfolio holdings are disclosed individually on the Schedule of Investments.
Note 2.
Derivative Instruments
:
The following is a summary of the Fund’s derivative instruments as of March 31, 2012:
|
Written call options
|
|
$
|
(789,426
|
)
|
Options:
The Fund writes call options on an index and may write put options on an index and put and covered call options on a security with the intention of earning option premiums. Option premiums may increase the Fund’s realized gains and therefore may help increase distributable income. When the 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 premium 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 security purchased by the Fund. If a call option is exercised, the call premium is added to the proceeds of the security sold 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 contracts.
Transactions in options written during the three months ended March 31, 2012 were as follows:
|
|
|
Number
of Contracts
|
|
Premium
|
|
|
Options outstanding at December 31, 2011
|
|
336
|
|
$
|
687,168
|
|
|
Options written
|
|
986
|
|
1,945,598
|
|
|
Options terminated in closing transactions
|
|
(992
|
)
|
(1,978,588
|
)
|
|
Options outstanding at March 31, 2012
|
|
330
|
|
$
|
654,178
|
|
Note 3.
Income Tax Information
As of March 31, 2012, the federal tax cost and net unrealized appreciation on securities were as follows:
|
Cost for federal income tax purposes
|
|
$
|
143,562,829
|
|
|
Gross unrealized appreciation
|
|
$
|
47,541,230
|
|
|
Gross unrealized depreciation
|
|
(752,660
|
)
|
|
Net unrealized appreciation
|
|
$
|
46,788,570
|
|
Item 2. Controls and Procedures
(a)
The registrant’s principal executive officer and principal 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) 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 registrant’s 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 registrant’s 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 25, 2012
|
|
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
|
|
|
Title:
|
Treasurer and Principal
|
|
|
|
Executive Officer
|
|
|
|
Financial Officer
|
|
|
|
|
|
|
|
Date: May 25, 2012
|
|
|
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