-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GYCCAdmC+bS+d82GBqvDtpKCMOfNr/rhHUcBGB4RZ/sBuZoCRJFQBeAzYAIGXXWW jjufyX6Hv4Kn6LegfOVGlw== 0001330833-09-000013.txt : 20091019 0001330833-09-000013.hdr.sgml : 20091019 20091019114237 ACCESSION NUMBER: 0001330833-09-000013 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091019 DATE AS OF CHANGE: 20091019 EFFECTIVENESS DATE: 20091019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Small Cap Value Fund, Inc. CENTRAL INDEX KEY: 0001330833 IRS NUMBER: 000000000 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-21782 FILM NUMBER: 091125064 BUSINESS ADDRESS: STREET 1: 8150 N. CENTRAL EXPRESSWAY SUITE 101 CITY: DALLAS STATE: TX ZIP: 75206 BUSINESS PHONE: 214-360-7410 MAIL ADDRESS: STREET 1: 8150 N. CENTRAL EXPRESSWAY SUITE 101 CITY: DALLAS STATE: TX ZIP: 75206 0001330833 S000011866 Small Cap Value Fund, Inc. C000032423 Small Cap Value Fund, Inc. SCAPX N-Q 1 nqsmallcapsep09.txt FORM NQ FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act File Number 811-21782 Exact Name of registrant as Small Cap Value Fund, Inc. Specified in charter Address of principal executive office 8150 N. Central Expwy Suite #M1120 Dallas, Texas 75206 Name and address of agent for service Laura S. Adams 8150 N. Central Expwy Suite #M1120 Dallas, Texas 75206 Registrants telephone number, inc. area code 214-360-7418 Date of fiscal year end: 12/31 Date of reporting period: 09/30/09 Item 1. Schedule of Investments SMALL CAP VALUE FUND, INC. SCHEDULE OF INVESTMENTS (Unaudited) SEPTEMBER 30, 2009 DESCRIPTION SHARES MARKET VALUE - ----------- ------ ------- COMMON STOCKS ? 94.93% Railroad Equipment-10.17% FreightCar America 32400 787,320 Trinity Industries 50000 859,500 ------- 1,646,820 Heavy Construction Equipment Rental and Leasing-3.43% H & E Equipment 49005 555,227 Misc. Fabricated Wire Products-2.55% Insteel Industries 34600 413,470 Sawmills and Planing Mills-6.75% Louisiana-Pacific 51330 342,371 Universal Forest Products 19000 749,740 ------- 1,092,111 Gypsum Products-1.59% USG Corp 15000 257,700 Women?s Clothing Stores-9.47% Bebe stores 101710 748,586 Dress Barn 43700 783,541 ------- 1,532,127 Fabricated Rubber Products-3.96% Cooper Tire Rubber 36500 641,670 Footwear-3.97% Kenneth Cole 44855 449,896 K-Swiss 21935 192,809 ------- 642,705 Industrial Organic Chemicals-7.00% Olin 65000 1,133,600 SMALL CAP VALUE FUND, INC. SCHEDULE OF INVESTMENTS, continued SEPTEMBER 30, 2009 DESCRIPTION SHARES MARKET VALUE - ----------- ------ ------- Natural Gas Distribution-4.52% Nicor 20000 731,800 Drilling Oil and Gas Wells-8.84% Patterson-UTI Energy 53350 805,585 Pioneer Drilling 85030 624,120 -------- 1,429,705 Petroleum Refining-5.26% Western Refining Inc 132000 851,400 Pharmaceutical Preparation-9.54% ViroPharma 160470 1,543,721 Primary Batteries, Dry and Wet-4.35% China BAK Battery 142200 703,890 Computer Integrated Systems Design-2.43% Cogent 39000 393,900 Electronic Computers-5.91% Silicon Graphics 142500 956,175 Services-Offices, Clinics of Doctors of Medicine-5.18% Coventry Health Care 42000 838,320 SMALL CAP VALUE FUND, INC. SCHEDULE OF INVESTMENTS, continued SEPTEMBER 30, 2009 Total common stocks (cost $18,583,266) 15,364,340 SHORT-TERM INVESTMENTS ? 5.03% Schwab Money Fund-Bears interest at approx 0.05% 814,053 -------- Total short-term investments (cost $814,053) 814,053 -------- Total investment securities ? 99.96% (cost $19,397,319) 16,178,393 Other assets less liabilities ? 0.04% 6,401 -------- Net assets ? 100.00% $ 16,184,794 ============ The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157). In accordance with FAS 157, fair value is defined as the price that the Fund would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. FAS 157 also establishes a framework for measuring fair value, and a three-level hierarchy for fair value measurements based upon the transparency of inputs to the valuation of an asset or liability. Inputs may be observable or unobservable and refer broadly to the assumptions that market participants would use in pricing the asset or liability. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability based on market data obtained from sources independent of the Fund. Unobservable inputs reflect the Fund's own assumptions about the assumptions that market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. Each investment is assigned a level based upon the observability of the inputs which are significant to the overall valuation. The three-tier 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 Fund's own assumptions in determining the fair value of investments) The following table summarizes the valuation of the Fund's investments by the above fair value hierarchy levels as of September 30, 2009: Investments Other in Financial Level Securities Instruments * ----- ---------- ----------- Level 1 $15,364,340 $ 0 Level 2 0 0 Level 3 0 0 ----------- ------------ Total $15,364,340 $ 0 =========== ============ * Other financial instruments are derivative instruments not reflected in the Portfolio of Investments, such as futures forwards and swap contracts, which are valued at the unrealized appreciation / depreciation on the instrument. THIS IS AN UNAUDITED STATEMENT See accompanying notes to these financial statements. NOTES TO FINANCIAL STATEMENTS Investment Transactions ? Purchases and Sales of investment securities (excluding money market funds) for the nine months ended September 30, 2009 were $3,265,020 and $9,263,484, respectively. At the end of the period, net unrealized depreciation for Federal Income tax purposes aggregated ($3,218,925), of which $1,527,846 related to unrealized appreciation of securities and ($4,746,771) related to unrealized depreciation of securities. The cost of investments at September 30, 2009 for Federal Income tax purposes was $18,583,266, excluding short term investments. Item 2. Controls and Procedures a) Laura S. Adams is the President and Treasurer of the Fund and has 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 as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rules 15d-15(b) under the Securities Exchange Act of 1934, as amended. b) 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 occurred during the Registrant?s last fiscal half-year that has materially affected, or is reasonably likely to material affect, the Registrant?s internal control over financial reporting. Item 3. Exhibits Separate certifications for each principal executive officer and principal financial officer of the registrant as required by Rule 30a- 2(a) under the Investment Company act of 1940 are filed herewith. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Small Cap Value Fund, Inc. By /s/ Laura S. Adams ------------------------- Laura S. Adams President Date: 10/19/2009 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. Small Cap Value Fund, Inc. By /s/ Laura S. Adams ------------------------- Laura S. Adams Treasurer Date: 10/19/2009 EX-99.CERT 2 certdsmallcapsep09.txt CERTIFICATION CERTIFICATION I, Laura S. Adams, certify that: 1. I have reviewed this report on Form N-Q of Small Cap Value Fund, Inc. 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. I am responsible for establishing and maintaining disclosure controls and procedures(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting(as defined in Rule 30a-(d) under the Investment Company act of 1940) for the registrant and have: a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period which this report is being prepared; b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and resented in this report my conclusion about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing of this report, based on such evaluation; and d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most resent fiscal quarter that has materially affected, or is reasonably likely to material affect, the registrant's internal control over financial reporting; and 5. I have disclosed to the registrant's auditors or persons performingthe equivalent functions: a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) Any fraud, whether or not material, that involves management orother employees who have a significant role in the registrant's internal control of financial reporting. Date: 10/19/09 By: /s/ Laura S. Adams -------------- Laura S. Adams President CERTIFICATION I, Laura S. Adams, certify that: 1. I have reviewed this report on Form N-Q of Small Cap Value Fund, Inc. 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. I am responsible for establishing and maintaining disclosure controls and procedures(as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting(as defined in Rule 30a-(d) under the Investment Company act of 1940) for the registrant and have: e) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under my supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to me by others within those entities, particularly during the period which this report is being prepared; f) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under my supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; g) Evaluated the effectiveness of the registrant's disclosure controls and procedures and resented in this report my conclusion about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing of this report, based on such evaluation; and h) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most resent fiscal quarter that has materially affected, or is reasonably likely to material affect, the registrant's internal control over financial reporting; and 5. I have disclosed to the registrant's auditors or persons performing the equivalent functions: c) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and d) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control of financial reporting. Date: 10/19/09 By: /s/ Laura S. Adams -------------- Laura S. Adams Treasurer -----END PRIVACY-ENHANCED MESSAGE-----