-----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, H/TTso1AV4RPPK1SDQRDoisGdvFJxGkAHBnpnmoX19a7GhkVOyAwmCTdMwoxDdgr UiECB7frHFM8EdbEwJsqWQ== 0001108086-09-000048.txt : 20091120 0001108086-09-000048.hdr.sgml : 20091120 20091120122444 ACCESSION NUMBER: 0001108086-09-000048 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091120 DATE AS OF CHANGE: 20091120 EFFECTIVENESS DATE: 20091120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Z SEVEN FUND INC CENTRAL INDEX KEY: 0000730476 IRS NUMBER: 112651096 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03877 FILM NUMBER: 091197867 BUSINESS ADDRESS: STREET 1: 1819 S DOBSON RD STREET 2: STE 207 CITY: MESA STATE: AZ ZIP: 85202 BUSINESS PHONE: 4808976214 MAIL ADDRESS: STREET 1: 1819 S DOBSON RD STREET 2: STE 207 CITY: MESA STATE: AZ ZIP: 85202 0000730476 S000017645 Z-SEVEN FUND, INC. C000048766 Z-SEVEN FUND, INC. N-Q 1 zseven093009nq.txt Z SEVEN 093009 NQ QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES 811-03877 ------------------------------------------------- Investment Company Act file number Z Seven Fund, Inc. -------------------------------------------------- (Exact name of registrant as specified in charter) 1819 S. Dobson Road Suite 207 Mesa, Arizona 85202-5656 Attention: Barry Ziskin -------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Thomas R. Westle, Esq. Blank Rome LLP The Chrysler Building 405 Lexington Avenue New York, New York 10174 --------------------------------------------------------------------- (Name and address of agent for service) 480-820-7482 ------------------------------------------------------------------- Registrant's telephone number, including area code: Date of fiscal year end: 12/31 ------------------------------- Date of reporting period: 09/30/09 ----------------------------------- ITEM 1. SCHEDULE OF INVESTMENTS. Z-SEVEN FUND, INC. SCHEDULE OF INVESTMENTS September 30, 2009 (unaudited) - --------------------------------------------------- - --------------------------------------------------- Number Security Description % of Market of Net Assets Value Shares - --------------------------------------------------- - --------------------------------------------------- COMMON STOCKS 100.00% BIOTECHNOLOGY: 5.03% 4,200 Techne Corp. $ 262,710 --------------- --------------- COMPUTER SERVICES: 9.85% 13,300 Cognizant Techology Solutions Cor514,178 --------------- --------------- CONFECTION: 13.49% 290 Lindt & Sprungli AG 704,082 --------------- --------------- INFORMATION & RESEA14.39%RVICES: 3,500 FactSet Research, Inc. 231,840 9,100 Forrester Research , Inc.* 242,424 77,000 RPS Group PLC 276,881 --------------- --------------- 751,145 --------------- --------------- INVESTMENT MANAGERS12.29% 46,143 Rathbone Brothers PLC 641,571 --------------- --------------- MISCELLANEOUS: 5.08% 12,600 Sun Hydraulics Corp. 265,356 --------------- --------------- PHARMACEUTICALS: 12.21% 2,697 Novartis AG 134,941 11,900 UCB SA 502,218 --------------- --------------- 637,159 --------------- --------------- SPECIALTY CHEMICALS:8.49% 9,345 Balchem Corporation 245,774 21,000 United Guardian, Inc. 197,610 --------------- --------------- 443,384 --------------- --------------- VETERINARY PRODUCTS10.11% 28,000 PetMed Express, Inc.* 527,800 --------------- --------------- TOTAL COMMON STOCKS 4,747,385 --------------- --------------- OPTIONS: 9.06% Contracts - ---------- - ---------- 280 Mini Nasdaq 100 Index Puts @$175. 135,800 exires October 2009 140 Mini Nasdaq 100 Index Puts @$177. 591,000 exires October 2009 98 Mini Russell 2000 Index Puts @$60. 11,760 expires October 2009 392 Mini Russell 2000 Index Puts @$62 101,920 expires October 2009 294 Mini Russell 2000 Index Puts @$65 132,300 expires October 2009 --------------- --------------- TOTAL OPTIONS 472,780 --------------- --------------- Total Securities 100.00% $ 5,220,165 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 September 30, 2009: Valuation Inputs: Investment in Securities: Level 1 - Quoted Prices $ 5,220,165 Level 2 - Other Significant Observable Inputs -- Level 3 - Significant Unobservable Inputs -- --------- --------- Total: $ 5,220,165 --------- --------- 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 U.S. 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) Z Seven Fund, Inc. ----------------------------- By: /s/ Barry Ziskin ------------------------------------- Barry Ziskin Principal Executive Officer Date: November 20, 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/ Barry Ziskin ------------------------------------- Barry Ziskin Principal Executive Officer Date: November 20, 2009 ------------------------------------ By: /s/ Barry Ziskin ------------------------------------- Barry Ziskin Principal Financial Officer Date: November 20, 2009 ------------------------------------ EX-99.CERT 2 zseven093009_nqofficerscert.txt Z SEVEN 093009 NQ OFFICERS CERT I, Barry Ziskin , certify that: 1. I have reviewed this report on Form N-Q of Z Seven 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. 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: November 20, 2009 /s/ Barry Ziskin - --------------------- Barry Ziskin Principal Executive Officer I, Barry Ziskin, certify that: 1. I have reviewed this report on Form N-Q of Z Seven 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. 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: November 20, 2009 /s/ Barry Ziskin - --------------------- Barry Ziskin Principal Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----