-----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, BPzen0B99C987tC6QsnncFaSu76/O5M26NqgCUU700c3D942S+nSQJOFx6FpsswC owGBJ3jL3/oZVqKWNrRDFw== 0001040674-08-000049.txt : 20080826 0001040674-08-000049.hdr.sgml : 20080826 20080826144720 ACCESSION NUMBER: 0001040674-08-000049 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20080731 FILED AS OF DATE: 20080826 DATE AS OF CHANGE: 20080826 EFFECTIVENESS DATE: 20080826 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Diamond Portfolio Investment Trust CENTRAL INDEX KEY: 0001413542 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-22129 FILM NUMBER: 081039050 BUSINESS ADDRESS: STREET 1: 8730 STONY POINT PARKWAY SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 BUSINESS PHONE: (804) 267-7400 MAIL ADDRESS: STREET 1: 8730 STONY POINT PARKWAY SUITE 205 CITY: RICHMOND STATE: VA ZIP: 23235 0001413542 S000020015 Diamond Portfolio Large Cap Quality Growth Fund C000056126 Institutional Shares Class C000056127 Class A Shares C000056128 Class C Shares C000056129 Class R-3 Shares N-Q 1 diamond073108_nq.txt DIAMOND 073108 NQ QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES 811-22129 ------------------------------------------------- Investment Company Act file number The Diamond Portfolio Investment Trust -------------------------------------------------- (Exact name of registrant as specified in charter) 8730 Stony Point Parkway, Suite 205, Richmond, Virginia 23235 -------------------------------------------------------------------- (Address of principal executive offices) (Zip code) The Corporation Trust Company 1209 Orange Street, Wilmington, New Castle County, DE 19801 --------------------------------------------------------------------- (Name and address of agent for service) With copies to: John H. Lively Husch Blackwell Sanders, LLP 4801 Main Street, Suite 1000 Kansas City, MO 64112 P.O. Box 219777 Kansas City, MO 64112-6777 ###-##-#### ------------------------------------------------------------------- Registrant's telephone number, including area code: Date of fiscal year end: 10/31 ------------------------------- Date of reporting period: 07/31/2008 ------------------------------------ ITEM 1. SCHEDULE OF INVESTMENTS. Diamond Portfolio Large Cap Quality Growth Fund QUARTERLY STATEMENTS OF INVESTMENTS JULY 31, 2008 (UNAUDITED) - ----------------------------------------------------------------------- DIAMOND PORTFOLIO LARGE CAP QUALITY GROWTH FUND SCHEDULE OF INVESTMENTS July 31, 2008 [unaudited]
Number % of Market of Shares Security Description Total Investments Value COMMON STOCKS: 98.42% ADVERTISING: 3.47% 1,020 Omnicom Group Inc. $ 43,544 ------------------- ------------------- AEROSPACE: 6.72% 700 Boeing Inc. 42,777 650 United Technologies 41,587 ------------------- ------------------- 84,364 ------------------- ------------------- BEVERAGES: 3.45% 650 Pepsico Inc. 43,264 ------------------- ------------------- COMPUTERS: 8.97% 1,650 Cisco Sysytems, Inc. 36,283 2,000 EMC Corp. 30,020 2,150 Oracle Corp. 46,289 ------------------- ------------------- 112,592 ------------------- ------------------- COSMETICS & TOILETRIES: 3.75% 720 Proctor & Gamble Co. 47,146 ------------------- ------------------- DRUG & MEDICAL: 19.10% 720 Genzyme Corp. 55,188 850 Johnson & Johnson 58,199 500 Novartis AG ADR 29,675 850 Stryker Corp. 54,562 1,500 UnitedHealth Group Inc. 42,120 ------------------- ------------------- 239,744 ------------------- ------------------- FINANCIAL: 9.52% 860 American Express Co. 31,923 740 American International Group Inc. 19,277 960 Bank of America Corp. 31,584 200 Goldman Sachs Group, Inc. 36,808 ------------------- ------------------- 119,592 ------------------- ------------------- FOOTWEAR: 3.50% 750 Nike, Inc. 44,010 ------------------- ------------------- INTERNET: 3.61% 1,800 Ebay, Inc. 45,306 ------------------- ------------------- MANUFACTURING: 12.91% 500 3M Co. 35,195 1,350 Coach Inc. 34,439 700 Danaher Corp. 55,755 1,300 General Electric Co. 36,777 ------------------- ------------------- 162,166 ------------------- ------------------- RETAIL: 16.56% 1,080 Best Buy Co., Inc. 42,898 1,890 Staples Inc. 42,525 2,800 Starbuck Corp. 41,132 700 Target Corp. 31,661 1,450 Walgreen Co. 49,793 ------------------- ------------------- 208,009 ------------------- ------------------- TELECOMMUNICATIONS: 6.86% 1,290 AT&T Inc. 39,745 1,700 Nokia Corp. ADR 46,444 ------------------- ------------------- 86,189 ------------------- ------------------- TOTAL SECURITIES 98.42% 1,235,926 CASH AND CASH EQUIVALENTS 1.58% 19,826 ------------- ------------------- ------------- ------------------- TOTAL INVESTMENTS 100.00% 1,255,752 ============= =================== ============= =================== FAS 157 Footnote Disclosure: The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, Fair Value Measurements ("FAS 157"), effective January 1, 2008. In accordance with FAS 157, "fair value" is defined as the price that a Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. Various inputs are used in determining the value of a Fund's investments. FAS 157 established a three-tier hierarchy of inputs to establish a classification of fair value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below: Level 1 - quoted prices in active markets for identical securities Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments) The following is a summary of the inputs used to value the Fund's investments as of July 31, 2008: Valuation Inputs: Investment in Securities: Level 1 - Quoted Prices $ 1,235,926 Level 2 - Other Significant Observable Inputs - Level 3 - Significant Unobservable Inputs - ----------------------------- ----------------------------- Total: $ 1,235,926 ----------------------------- -----------------------------
For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual shareholder report. ITEM 2. CONTROLS AND PROCEDURES. (a) EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES. The Registrant maintains disclosure controls and procedures that are designed to ensure that information required to be disclosed in the Registrant's filings under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 is recorded, processed, summarized and reported within the periods specified in the rules and forms of the Securities and Exchange Commission. Such information is accumulated and communicated to the Registrant's management, including its principal executive officer and principal financial officer, as appropriate, to allow timely decisions regarding required disclosure. The Registrant's management, including the principal executive officer and the principal financial officer, recognizes that any set of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Within 90 days prior to the filing date of this Quarterly Schedule of Portfolio Holdings on Form N-Q, the Registrant had carried out an evaluation, under the supervision and with the participation of the Registrant's management, including the Registrant's principal executive officer and the Registrant's principal financial officer, of the effectiveness of the design and operation of the Registrant's disclosure controls and procedures. Based on such evaluation, the Registrant's principal executive officer and principal financial officer concluded that the Registrant's disclosure controls and procedures are effective. (b) CHANGES IN INTERNAL CONTROLS. There have been no significant changes in the Registrant's internal controls or in other factors that could significantly affect the internal controls subsequent to the date of their evaluation in connection with the preparation of this Quarterly Schedule of Portfolio Holdings on Form N-Q. ITEM 3. EXHIBITS. A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act (17 CFR 270.30a-2(a), exactly as set forth below: Attached hereto. 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. (Registrant) The Diamond Portfolio Investment Trust ----------------------------- By: /s/ Thomas M. Weary ------------------------------------- Thomas M. Weary Principal Executive Officer Date: 08-26-2008 ------------------------------------ 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/ Thomas M. Weary ------------------------------------- Thomas M. Weary Principal Executive Officer Date: 08-26-2008 ------------------------------------ By: /s/ Karen Shupe ------------------------------------- Karen Shupe Principal Financial Officer Date: 08-26-2008 ------------------------------------ EX-99.CERT 2 diamond073108nq_officerscert.txt DIAMOND 073108 NQ OFFICERS CERT I, Thomas M. Weary, certify that: 1. I have reviewed this report on Form N-Q of The Diamond Portfolio Investment Trust; 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. The registrant's other certifying officer(s)and I are 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-3(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 our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in 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 our 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 presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date 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 recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the 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 or other employees who have a significant role in the registrant's internal control over financial reporting. Date: 08-26-2008 /s/ Thomas M. Weary - --------------------- Thomas M. Weary Principal Executive Officer I, Karen Shupe, certify that: 1. I have reviewed this report on Form N-Q of The Diamond Portfolio Investment Trust; 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. The registrant's other certifying officer(s)and I are 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-3(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 our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in 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 our 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 presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date 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 recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the 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 or other employees who have a significant role in the registrant's internal control over financial reporting. Date: 08-26-2008 /s/ Karen Shupe - ---------------------- Karen Shupe Principal Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----