-----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, FhD3M8GoaLKPhD7l92J3ix+3RmgiuncRywtjZl0pEwsMV1zKe8qdvnl0PRgDK7hf J3oQcGzVMNtDthrWZHMfDw== 0000948221-05-000118.txt : 20050628 0000948221-05-000118.hdr.sgml : 20050628 20050628145704 ACCESSION NUMBER: 0000948221-05-000118 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050430 FILED AS OF DATE: 20050628 DATE AS OF CHANGE: 20050628 EFFECTIVENESS DATE: 20050628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GREEN CENTURY FUNDS CENTRAL INDEX KEY: 0000877232 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06351 FILM NUMBER: 05920118 BUSINESS ADDRESS: STREET 1: 29 TEMPLE PLACE STREET 2: SUITE 200 CITY: BOSTON STATE: MA ZIP: 02111 BUSINESS PHONE: 617-482-0800 MAIL ADDRESS: STREET 1: C/O UMB FUND SERVICES STREET 2: 803 WEST MICHIGAN STREET SUITE A CITY: MILWAUKEE STATE: WI ZIP: 53233 N-Q 1 gr20587.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act File Number: 811-06351 Name and Address of Registrant: Green Century Funds 29 Temple Place Suite 200 Boston, Massachusetts 02111 Name and address of agent for service: Green Century Capital Management, Inc. 29 Temple Place Suite 200 Boston, Massachusetts 02111 Registrant's telephone number: (617) 482-0800 Date of fiscal year end: July 31 Date of reporting period: April 30, 2005 Item 1. Schedule of Investments The Schedule of Investments for the Green Century Balanced Fund is set forth below. The Green Century Equity Fund is a "feeder fund" and invests its assets in the Domini Social Index Portfolio. The Schedule of Investments of the Domini Social Index Portfolio is set forth below. GREEN CENTURY BALANCED FUND SCHEDULE OF INVESTMENTS April 30, 2005 (Unaudited)
SHARES VALUE ----------- ----------- COMMON STOCKS 63.4% MEDICAL PRODUCTS - 15.4% Amgen, Inc. (b) 15,000 $ 873,150 Durect Corp. (b) 800,000 2,208,000 Intermagnetics General Corp. (b) 50,000 1,228,000 Isis Pharmaceuticals, Inc. (b) 250,000 725,000 Novozymes A/S (c) 40,000 1,948,784 SurModics, Inc. (b) 45,000 1,623,150 ----------- 8,606,084 ----------- INTERNET PRODUCTS AND SERVICES - 8.5% Adobe Systems, Inc. 23,000 1,367,810 Aptimus, Inc. (b) 100,000 1,451,000 aQuantive, Inc. (b) 100,000 1,110,000 Audible, Inc. (b) 40,000 512,800 Intraware, Inc. (b) 725,000 319,000 ----------- 4,760,610 ----------- TECHNOLOGY - 7.0% Apple Computer, Inc. (b) 30,000 1,081,800 Avid Technology, Inc. (b) 25,000 1,237,750 Catapult Communications Corp. (b) 20,000 295,600 Redback Networks, Inc. (b) 100,000 536,000 ThermoGenesis Corp. (b) 225,000 771,750 ----------- 3,922,900 ----------- ALTERNATIVE/RENEWABLE ENERGY - 6.1% Fuel-Tech N.V. (b) 250,000 1,347,500 Gamesa Corp. Tecnologica, S.A. (c) 100,000 1,289,659 Quantum Fuel Systems Technologies Worldwide, Inc. (b) 225,000 796,500 ----------- 3,433,659 ----------- HEALTHY LIVING - 4.9% Martek Biosciences Corp. (b) 25,000 956,750 Whole Foods Market, Inc. 18,000 1,794,960 ----------- 2,751,710 ----------- FOOD AND BEVERAGE - 3.6% Green Mountain Coffee Roasters, Inc. (b) 30,000 775,200 Starbucks Corp. (b) 25,000 1,238,000 ----------- 2,013,200 ----------- AUTO MANUFACTURING - 3.3% Toyota Motor Corp. American Depository Receipt (c) 25,000 1,817,750 -----------
GREEN CENTURY BALANCED FUND SCHEDULE OF INVESTMENTS April 30, 2005 (Unaudited)
SHARES VALUE ---------- ---------- ADVERTISING - 3.2% Getty Images, Inc. (b) 25,000 $1,788,750 ---------- TRANSPORTATION - 2.8% East Japan Railway Co. (c) 300 1,561,264 ---------- APPAREL - 2.7% The Timberland Co. (b) 22,000 1,519,100 ---------- ENTERTAINMENT - 2.6% Lions Gate Entertainment Corp. (b) 150,000 1,449,000 ---------- DIVERSIFIED MANUFACTURING - 2.1% NAM TAI Electronics, Inc. (c) 50,000 1,157,500 ---------- BANKS - 1.2% Wainwright Bank & Trust Co. 55,000 643,500 ---------- Total Common Stocks (Cost $36,463,240) 35,425,027 ---------- CORPORATE BONDS & NOTES 32.7% PRINCIPAL AMOUNT ---------- 5.9% FOOD AND BEVERAGE - Chiquita Brands International, Inc. 7.50%, due 11/1/14 $1,000,000 920,000 Dean Foods Co. 8.15%, due 8/1/07 1,300,000 1,374,750 Dean Foods Co. 6.90%, due 10/15/17 1,000,000 1,015,000 ---------- 3,309,750 ---------- TELECOMMUNICATIONS - 5.9% AT&T Corp. 9.05%, due 11/15/11 1,000,000 1,146,250 Nextel Communications, Inc. 7.375%, due 8/1/15 2,000,000 2,140,000 ---------- 3,286,250 ---------- FINANCIALS - 4.0% SLM Corp. 4%, due 7/25/14 (d) 2,235,000 2,202,280 ----------
GREEN CENTURY BALANCED FUND SCHEDULE OF INVESTMENTS April 30, 2005 (Unaudited)
PRINCIPAL AMOUNT VALUE ----------- ----------- OFFICE EQUIPMENT - 3.8% Xerox Corp. 7.625%, due 6/15/13 $2,000,000 $2,145,000 ----------- FOREST PRODUCTS AND PAPER - 3.7% Mercer International, Inc. 9.25%, due 2/15/13 2,250,000 2,081,250 ----------- INTERNET PRODUCTS AND SERVICES - 3.6% Akamai Technologies, Inc. 5.50%, due 7/1/07 2,000,000 2,027,500 ---------- HEALTHCARE - 1.8% HCA, Inc. 6.30%, due 10/1/12 1,000,000 1,010,620 ----------- CONSUMER GOODS AND SERVICES - 1.7% Nebraska Book Co. 8.625%, due 3/15/12 1,000,000 955,000 ----------- HEALTHY LIVING - 1.4% NBTY, Inc. 8.625%, due 9/15/07 750,000 755,625 ----------- AUTO MANUFACTURING - 0.9% Toyota Motor Credit Corp. 4.125%, due 7/25/17 (c)(e) 500,000 495,352 ----------- Total Corporate Bonds and Notes (Cost $18,128,104) 18,268,627 ----------- REPURCHASE AGREEMENT - 1.0% Investors Bank & Trust Repurchase Agreement, dated 4/29/05, due 5/2/05, proceeds $575,049 (collateralized by U.S. Treasury Bond, 6.125%, due 8/15/29, value $586,474) (Cost $574,970) 574,970 ----------- TOTAL INVESTMENTS (a) 97.1% (Cost $55,166,314) 54,268,624 Other Assets less Liabilities 2.9% 1,632,072 ----------- NET ASSETS 100.0% $55,900,696 ===========
SCHEDULE OF INVESTMENTS April 30, 2005 (Unaudited) (a) The cost of investments for federal income tax purposes is $55,169,415 resulting in gross unrealized appreciation and depreciation of $3,675,376 and $4,576,167, respectively, or net unrealized depreciation of $900,971. (b) Non-income producing security. (c) Securities whose values are determined or significantly influenced by trading on exchanges not in the United States or Canada. (d) Floating rate bond. Rate shown is currently in effect at April 30, 2005. (e) Step rate bond. Rate shown is currently in effect at April 30, 2005. See Notes to Schedule of Investments GREEN CENTURY BALANCED FUND GREEN CENTURY EQUITY FUND NOTES TO SCHEDULE OF INVESMENTS (UNAUDITED) Green Century Funds (the "Trust") is a Massachusetts business trust which offers two separate series, the Green Century Balanced Fund (the "Balanced Fund") and the Green Century Equity Fund (the "Equity Fund"). The Trust is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. The Trust accounts separately for the assets, liabilities and operations of each series. The Balanced Fund commenced operations on March 18, 1992 and the Equity Fund commenced operations on September 13, 1995. The Equity Fund invests substantially all of its assets in the Domini Social Index Portfolio (the "Index Portfolio"), an open-end, diversified management investment company having the same investment objective as the Fund. The Equity Fund accounts for its investment in the Index Portfolio as a partnership investment and records its share of the Index Portfolio's income, expenses and realized and unrealized gains and losses daily. The value of such investment reflects the Fund's proportionate interest in the net assets of the Index Portfolio (2.18% at April 30, 2005). The Portfolio of Investments of the Index Portfolio is included elsewhere in this report. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates. The following is a summary of the Trust's significant accounting policies: (A) BALANCED FUND INVESTMENT VALUATION: Equity securities listed on national securities exchanges other than NASDAQ are valued at last sale price. If a last sale price is not available, securities listed on national exchanges other than NASDAQ are valued at the mean between the closing bid and closing ask prices. NASDAQ National Market(R) and SmallCapSM securities are valued at the NASDAQ Official Closing Price ("NOCP"). The NOCP is based on the last traded price if it falls within the concurrent best bid and ask prices and is normalized pursuant to NASDAQ's published procedures if it falls outside this range. If an NOCP is not available for any such security, the security is valued at the last sale price, or, if there have been no sales that day, at the mean between the closing bid and closing ask prices. Unlisted equity securities are valued at last sale price, or when last sale prices are not available, at the last quoted bid price. Debt securities (other than short-term obligations maturing in sixty days or less) are valued on the basis of valuations furnished by a pricing service which takes into account appropriate factors such as institution-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, and other market data, without exclusive reliance on quoted prices or exchange or over-the-counter prices, since such valuations are believed to reflect more accurately the fair value of the securities. Securities, if any, for which there are no such valuations or quotations available, or for which the market quotation is not reliable, are valued at fair value by management as determined in good faith under guidelines established by the Trustees. Short-term obligations maturing in sixty days or less are valued at amortized cost, which approximates market value. EQUITY FUND INVESTMENT VALUATION: The Equity Fund records its investment in the Index Portfolio at fair value. (B) BALANCED FUND SECURITIES TRANSACTIONS AND INVESTMENT INCOME: Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are determined using the identified cost basis. Interest income, GREEN CENTURY BALANCED FUND GREEN CENTURY EQUITY FUND NOTES TO SCHEDULE OF INVESMENTS (UNAUDITED) including amortization of premiums and accretion of discounts on bonds, is recognized on the accrual basis and dividend income is recorded on the ex-dividend date. EQUITY FUND SECURITIES TRANSACTIONS, INVESTMENT INCOME AND EXPENSES: The Equity Fund records daily its proportionate share of the Index Portfolio's income, expenses and realized and unrealized gains and losses. In addition, the Fund accrues its own expenses. (C) OPTIONS TRANSACTIONS: The Balanced Fund may utilize options to hedge or protect from adverse movements in the market values of its portfolio securities and to enhance return. The use of options may involve risks such as the possibility of illiquid markets or imperfect correlation between the value of the option and the underlying securities. The Balanced Fund may write put or call options. Premiums received upon writing put or call options are recorded as an asset with a corresponding liability which is subsequently adjusted to the current market value of the option. Changes between the initial premiums received and the current market value of the options are recorded as unrealized gains or losses. When an option is closed, expired or exercised, a gain or loss is realized and the liability is eliminated. The Balanced Fund continues to the bear the risk of adverse movements in the price of the underlying assets during the period of the option, although any potential loss during the period would be reduced by the amount of the option premium received. As required by the Act, liquid securities are designated as collateral in an amount equal to the market value of open options contracts. (D) REPURCHASE AGREEMENTS: The Balanced Fund may enter into repurchase agreements with selected banks or broker-dealers that are deemed by the Balanced Fund's adviser to be creditworthy pursuant to guidelines established by the Board of Trustees. Each repurchase agreement is recorded at cost, which approximates fair value. The Balanced Fund requires that the market value of collateral, represented by securities (primarily U.S. Government securities), be sufficient to cover payments of interest and principal and that the collateral be maintained in a segregated account with a custodian bank in a manner sufficient to enable the Balanced Fund to obtain those securities in the event of a default of the counterparty. In the event of default or bankruptcy by the counterparty to the repurchase agreement, retention of the collateral may be subject to legal proceedings. DOMINI SOCIAL INDEX PORTFOLIO PORTFOLIO OF INVESTMENTS APRIL 30, 2005 (UNAUDITED) SECURITY SHARES VALUE - -------- --------- -------------- CONSUMER DISCRETIONARY - 14.8% American Greetings Corporation, Class A 19,100 432,615 AutoZone, Inc. (a) 18,631 1,546,373 Bandag, Inc. 4,900 212,856 Bed Bath & Beyond Inc. (a) 81,900 3,047,499 Best Buy Co., Inc. 81,800 4,117,812 Black & Decker Corp. 21,500 1,798,045 Centex Corporation 33,900 1,956,708 Champion Enterprises, Inc. (a) 23,300 219,952 Charming Shoppes, Inc. (a) 29,400 218,736 Circuit City Stores, Inc. 50,300 794,740 Claire's Stores, Inc. 27,000 589,140 Comcast Corporation, Class A (a) 602,758 19,354,559 Cooper Tire and Rubber Company 17,400 303,630 Dana Corporation 39,500 451,090 Darden Restaurants, Inc. 39,500 1,185,000 Delphi Automotive Systems Corporation 152,500 503,250 Disney (Walt) Company (The) 557,600 14,720,640 Dollar General Corporation 82,951 1,688,053 Dow Jones & Company 20,200 675,488 eBay Inc. (a) 329,372 10,450,974 Emmis Communications Corporation, Class A (a) 15,200 234,536 Family Dollar Stores Inc. 47,000 1,268,060 Foot Locker, Inc. 44,000 1,173,040 Gaiam, Inc. (a) 2,200 12,320 Gap Inc. 214,287 4,575,028 Genuine Parts Company 47,300 2,029,170 Harley-Davidson, Inc. 78,800 3,705,176 Harman International Industries, Inc. 17,820 1,400,296 Hartmarx Corporation (a) 8,500 73,355 Home Depot, Inc. (The) 598,506 21,169,157 Horton (D.R.), Inc. 79,433 2,422,707 Interface, Inc., Class A (a) 11,400 68,400 Johnson Controls, Inc. 52,700 2,891,649 KB Home 22,400 1,276,800 Lee Enterprises, Inc. 12,500 518,875 Leggett & Platt, Incorporated 51,300 1,383,048 Limited Brands 103,530 2,245,566 Liz Claiborne, Inc. 30,000 1,062,900 Lowe's Companies, Inc. 209,700 10,927,467 Mattel, Inc. 114,385 2,064,649 May Department Stores Company 78,600 2,757,288 Maytag Corporation 22,600 218,994 McDonald's Corporation 346,200 10,147,122 McGraw-Hill Companies 52,300 4,554,284 Media General, Inc., Class A 6,800 416,704 Men's Wearhouse, Inc. (a) 8,700 359,049 Meredith Corporation 11,700 549,900 Modine Manufacturing Company 8,700 235,596 New York Times Company, Class A 38,900 1,297,704 Newell Rubbermaid, Inc. 73,378 1,594,504 Nordstrom, Inc. 34,700 1,763,801 Office Depot (a) 84,000 1,644,720 Omnicom Group, Inc. 51,200 4,244,480 Oshkosh B'Gosh, Inc., Class A 2,700 71,145 Penney (J.C.) Company, Inc. 74,300 3,522,563 Pep Boys -- Manny, Moe & Jack 14,000 198,520 Phillips-Van Heusen Corporation 7,200 186,336 Pixar (a) 23,400 1,070,316 Pulte Homes, Inc. 32,600 2,329,270 Radio One, Inc. (a) 5,800 75,516 RadioShack Corporation 44,300 1,106,171 Reebok International Ltd. 15,800 641,638 Ruby Tuesday, Inc. 15,800 355,500 Russell Corporation 8,300 145,333 Scholastic Corporation (a) 9,700 338,045 Scripps (E.W.) Company (The), Class A 26,100 1,329,273 Snap-On Incorporated 15,050 499,209 Spartan Motors, Inc. 3,100 31,093 Stanley Works 19,900 856,297 Staples, Inc. 203,884 3,888,068 Starbucks Corporation (a) 108,800 5,387,776 Stride Rite Corporation 10,800 131,760 Target Corporation 243,700 11,307,680 Tiffany & Co. 39,900 1,202,985 Timberland Company (The) (a) 9,000 621,450 Time Warner, Inc. (a) 1,252,500 21,054,525 TJX Companies, Inc. 131,000 2,967,150 Toys 'R' Us, Inc. (a) 57,320 1,453,062 Tribune Company 82,056 3,167,362 Tupperware Corporation 15,000 316,500 Univision Communications, Inc., Class A (a) 80,300 2,111,087 Valassis Communications Inc. (a) 13,600 479,400 Value Line, Inc. 2,600 102,440 Visteon Corporation 34,000 119,000 Washington Post Company, Class B 1,900 1,642,074 Wendy's International, Inc. 32,100 1,378,052 Whirlpool Corporation 18,500 1,148,109 -------------- 225,788,210 -------------- CONSUMER STAPLES - 12.9% Alberto-Culver Company, Class B 22,450 999,025 Albertson's, Inc. 98,800 1,955,252 Avon Products, Inc. 129,400 5,186,352 Campbell Soup Company 89,600 2,664,704 Church & Dwight Co., Inc. 17,700 637,554 Clorox Company 42,200 2,671,260 Coca-Cola Company 615,700 26,746,008 Colgate-Palmolive Company 143,400 7,139,886 Costco Wholesale Corporation 127,830 5,187,341 CVS Corporation 108,600 5,601,588 Estee Lauder Companies, Inc. (The), Class A 46,400 1,782,224 General Mills Incorporated 98,700 4,875,780 Gillette Company 269,938 13,939,598 Green Mountain Coffee, Inc. (a) 1,800 46,512 Hain Celestial Group, Inc. (The) (a) 8,700 154,425 Heinz (H.J.) Company 94,700 3,489,695 Hershey Foods Corporation 60,200 3,846,780 Kellogg Company 94,800 4,261,260 Kimberly-Clark Corporation 131,464 8,209,927 Kroger Company (a) 198,700 3,133,499 Longs Drug Stores Corporation 9,900 359,865 McCormick & Company, Inc. 37,400 1,293,666 Nature's Sunshine Products, Inc. 4,200 62,958 PepsiAmericas, Inc. 29,200 720,948 PepsiCo, Inc. 456,070 25,375,735 Procter & Gamble Company 685,800 37,136,070 Safeway Inc. (a) 123,000 2,618,670 Smucker (J.M.) Company 16,805 833,864 SUPERVALU, Inc. 36,900 1,164,564 Sysco Corporation 172,400 5,965,040 Tootsie Roll Industries, Inc. 9,938 306,885 United Natural Foods, Inc. (a) 10,000 268,000 Walgreen Company 278,000 11,970,680 Whole Foods Market, Inc. 17,200 1,715,184 Wild Oats Markets, Inc. (a) 6,550 66,155 Wrigley (Wm.) Jr. Company 53,800 3,719,195 -------------- 196,106,149 -------------- ENERGY - 2.2% Anadarko Petroleum Corporation 63,985 4,673,464 Apache Corporation 89,124 5,016,790 Cooper Cameron Corp. (a) 14,200 780,148 Devon Energy Corporation 130,144 5,878,604 EOG Resources, Inc. 65,400 3,109,770 Helmerich & Payne, Inc. 13,000 499,720 Kinder Morgan, Inc. 30,200 2,309,092 Noble Energy, Inc. 16,300 1,045,156 Pioneer Natural Resources Company 40,100 1,630,466 Rowan Companies, Inc. 29,200 774,676 Sunoco, Inc. 19,100 1,895,866 Williams Companies, Inc. 157,000 2,672,140 XTO Energy Inc. 94,200 2,842,015 -------------- 33,127,907 -------------- FINANCIALS - 22.2% AFLAC, Inc. 136,100 5,532,465 Allied Capital Corporation 36,100 992,750 AMBAC Financial Group, Inc. 29,900 1,998,815 American Express Company 319,600 16,842,920 American International Group, Inc. 708,076 36,005,665 AmSouth Bancorporation 97,800 2,574,096 BB&T Corp. 149,500 5,861,895 Capital One Financial Corporation 66,800 4,735,452 Cathay General Bancorp 12,990 426,981 Chittenden Corporation 13,220 331,954 Chubb Corporation 52,200 4,268,916 Cincinnati Financial Corporation 45,017 1,811,484 Comerica Incorporated 46,600 2,668,316 Edwards (A.G.), Inc. 20,887 829,423 Fannie Mae 263,565 14,219,332 Fifth Third Bancorp 141,211 6,142,679 First Horizon National Corporation 34,400 1,428,632 FirstFed Financial Corp. (a) 4,500 227,835 Franklin Resources, Inc. 54,400 3,736,192 Freddie Mac 187,300 11,522,696 General Growth Properties Inc. 59,200 2,315,312 Golden West Financial 76,400 4,762,012 Hartford Financial Services Group (The) 80,200 5,804,074 Heartland Financial USA, Inc. 4,200 84,000 Janus Capital Group Inc. 62,026 805,718 Jefferson-Pilot Corporation 36,925 1,854,004 KeyCorp 110,300 3,657,548 Lincoln National Corporation 47,600 2,140,572 Marsh & McLennan Companies, Inc. 143,300 4,016,699 MBIA, Inc. 38,900 2,037,582 MBNA Corporation 346,075 6,834,981 Medallion Financial Corp. 4,300 41,839 Mellon Financial Corporation 115,400 3,195,426 Merrill Lynch & Co., Inc. 253,460 13,669,098 MGIC Investment Corporation 26,000 1,534,000 Moody's Corporation 37,800 3,104,892 Morgan (J.P.) Chase & Co. 966,112 34,287,315 National City Corporation 160,800 5,460,768 Northern Trust Corporation 56,000 2,521,680 PNC Financial Services Group 76,900 4,093,387 Progressive Corporation (The) 54,700 4,992,469 Providian Financial Corporation (a) 82,200 1,370,274 SAFECO Corporation 34,300 1,806,581 Schwab (Charles) Corporation 316,000 3,270,600 SLM Corporation 117,200 5,583,408 Sovereign Bancorp Inc. 103,200 2,122,824 St. Paul Travelers Companies, Inc. (The) 183,264 6,560,851 State Street Corporation 90,100 4,165,323 SunTrust Banks, Inc. 92,100 6,707,643 Synovus Financial Corporation 83,850 2,350,316 U.S. Bancorp 504,721 14,081,716 UnumProvident Corporation 80,900 1,352,648 Wachovia Corporation 432,143 22,117,079 Wainwright Bank & Trust Co. 2,500 29,250 Washington Mutual, Inc. 236,904 9,788,873 Wells Fargo & Company 460,906 27,626,705 Wesco Financial Corporation 1,200 453,600 -------------- 338,759,565 -------------- HEALTH CARE - 13.5% Affymetrix Inc. (a) 16,700 770,037 Allergan, Inc. 36,105 2,541,431 Amgen, Inc. (a) 341,400 19,872,894 Bard (C.R.), Inc. 28,400 2,021,228 Bausch & Lomb Incorporated 14,000 1,050,000 Baxter International, Inc. 168,200 6,240,220 Becton Dickinson and Company 68,500 4,008,620 Biogen Idec Inc. (a) 91,950 3,332,268 Biomet, Inc. 68,900 2,665,741 Boston Scientific Corporation (a) 206,400 6,105,312 CIGNA Corporation 35,700 3,283,686 Cross Country Healthcare, Inc. (a) 8,600 138,546 Forest Laboratories, Inc. (a) 96,700 3,450,256 Genzyme Corporation (a) 68,200 3,997,202 Guidant Corporation 87,638 6,492,223 Hillenbrand Industries, Inc. 15,500 855,910 Humana, Inc. (a) 42,900 1,486,485 IMS Health, Inc. 62,813 1,506,256 Invacare Corporation 7,700 315,392 Invitrogen Corporation (a) 14,500 1,062,415 Johnson & Johnson 808,670 55,499,022 King Pharmaceuticals Inc. (a) 66,200 529,600 Manor Care, Inc. 24,700 823,745 McKesson HBOC, Inc. 79,720 2,949,640 MedImmune, Inc. (a) 66,500 1,687,105 Medtronic, Inc. 329,500 17,364,650 Merck & Co., Inc. 601,700 20,397,630 Millipore Corporation (a) 13,700 660,614 Mylan Laboratories, Inc. 75,475 1,245,338 St. Jude Medical, Inc. (a) 98,400 3,840,552 Stryker Corporation 101,300 4,918,115 Synovis Life Technologies, Inc. (a) 2,600 22,672 Thermo Electron Corporation (a) 43,700 1,091,626 UnitedHealth Group Incorporated 174,730 16,513,732 Waters Corporation (a) 33,400 1,323,642 Watson Pharmaceuticals (a) 29,200 876,000 Zimmer Holdings, Inc. (a) 66,900 5,446,998 -------------- 206,386,803 -------------- INDUSTRIALS - 6.6% 3M Company 210,400 16,089,288 Alaska Air Group, Inc. (a) 6,900 184,023 American Power Conversion 48,000 1,164,480 AMR Corporation (a) 44,400 464,868 Apogee Enterprises, Inc. 7,400 95,312 Ault, Inc. (a) 1,200 2,772 Avery Dennison Corporation 27,400 1,434,390 Baldor Electric Company 8,800 219,120 Banta Corporation 6,550 272,742 Brady Corporation, Class A 13,500 400,275 Bright Horizons Family Solutions, Inc. (a) 6,400 216,896 CLARCOR, Inc. 6,450 326,435 Cooper Industries, Inc., Class A 24,800 1,578,768 Cross (A.T.) Company (a) 3,800 21,280 Cummins, Inc. 12,100 822,800 Deere & Company 67,900 4,246,466 Delta Air Lines, Inc. (a) 32,000 105,280 Deluxe Corporation 13,100 523,083 DeVry, Inc. (a) 18,100 412,680 Donaldson Company, Inc. 21,900 651,525 Donnelley (R.R.) & Sons Company 58,900 1,938,399 Emerson Electric Company 114,000 7,144,380 Fastenal Company 18,200 974,792 FedEx Corporation 81,900 6,957,405 GATX Corporation 12,600 412,272 Graco, Inc. 18,552 626,501 Grainger (W.W.), Inc. 22,400 1,238,496 Granite Construction Incorporated 10,625 239,913 Harland (John H.) Company 7,600 273,600 Herman Miller, Inc. 19,300 551,980 HNI Corporation 15,000 759,900 Hubbell Incorporated, Class B 16,960 736,912 Ikon Office Solutions 38,800 335,620 Illinois Tool Works, Inc. 74,600 6,252,972 JetBlue Airways Corporation (a) 27,300 547,365 Kadant Inc. (a) 3,700 63,640 Kansas City Southern Industries, Inc. (a) 24,000 454,080 Kelly Services, Inc. 8,475 222,554 Lawson Products, Inc. 2,500 96,325 Lincoln Electric Holdings, Inc. 11,000 336,050 Masco Corporation 121,400 3,822,886 Milacron, Inc. (a) 12,633 26,529 Monster Worldwide Inc.(a) 34,300 789,243 Nordson Corporation 8,000 257,760 Norfolk Southern Corporation 109,200 3,428,880 Pall Corp. 34,200 917,586 Pitney Bowes, Inc. 62,800 2,808,416 Robert Half International, Inc. 43,100 1,069,742 Ryder System, Inc. 18,000 664,740 Smith (A.O.) Corporation 5,200 148,200 Southwest Airlines Co. 200,062 2,976,923 SPX Corporation 20,830 805,913 Standard Register Company 6,000 74,820 Steelcase, Inc. 8,900 116,946 Tennant Company 2,300 81,742 Thomas & Betts Corporation (a) 15,100 469,912 Thomas Industries, Inc. 4,000 157,880 Toro Company 12,800 528,896 Trex Company, Inc. (a) 3,700 148,666 United Parcel Service, Inc., Class B 305,033 21,751,901 Yellow Roadway Corporation (a) 12,580 616,420 -------------- 101,059,640 -------------- INFORMATION TECHNOLOGY - 19.9% 3Com Corporation (a) 103,000 324,450 Adaptec, Inc. (a) 27,400 100,284 ADC Telecommunications, Inc. (a) 234,000 531,180 Advanced Micro Devices, Inc. (a) 108,400 1,542,532 Advent Software, Inc. (a) 8,500 151,640 Analog Devices, Inc. 102,000 3,479,220 Andrew Corporation (a) 43,800 537,426 Apple Computer, Inc. (a) 222,200 8,012,532 Applied Materials, Inc. (a) 455,800 6,777,746 Arrow Electronics, Inc. (a) 31,600 769,144 Autodesk, Inc. 61,500 1,957,545 Automatic Data Processing, Inc. 159,074 6,910,175 BMC Software, Inc. (a) 60,800 984,960 Borland Software Corporation (a) 21,100 122,591 CDW Corporation 20,400 1,115,676 Ceridian Corporation (a) 39,700 669,739 Cisco Systems, Inc. (a) 1,757,030 30,361,478 Coherent, Inc. (a) 7,700 247,016 Compuware Corporation (a) 109,800 653,310 Convergys Corp. (a) 42,000 544,320 Dell Inc. (a) 670,200 23,343,066 Dionex Corporation (a) 5,600 240,520 Electronic Arts Inc. (a) 83,200 4,442,048 Electronic Data Systems Corporation 139,800 2,705,130 EMC Corporation (a) 654,200 8,583,104 Entegris, Inc. (a) 19,000 163,590 Gerber Scientific, Inc. (a) 5,700 40,356 Hewlett-Packard Company 788,710 16,144,894 Hutchinson Technology Incorporated (a) 6,500 240,760 Imation Corporation 9,100 317,317 Intel Corporation 1,693,000 39,819,360 Lexmark International Group, Inc. (a) 34,300 2,382,135 LSI Logic Corporation (a) 104,200 558,512 Lucent Technologies, Inc. (a) 1,219,692 2,963,852 Merix Corporation (a) 3,750 29,475 Micron Technology, Inc. (a) 169,400 1,644,874 Microsoft Corporation 2,752,000 69,625,600 Molex Incorporated 46,146 1,172,570 National Semiconductor Corporation 95,100 1,814,508 Novell, Inc. (a) 108,100 638,871 Novellus Systems, Inc. (a) 38,300 897,369 palmOne, Inc. (a) 13,904 297,962 Paychex, Inc. 97,900 2,995,740 Plantronics Inc. 13,400 421,966 Polycom Inc. (a) 29,400 448,644 Qualcomm, Inc. 448,200 15,637,698 Red Hat, Inc. (a) 43,700 469,775 Sapient Corporation (a) 32,800 234,520 Scientific-Atlanta, Inc. 40,400 1,235,432 Solectron Corporation (a) 262,000 864,600 Sun Microsystems, Inc. (a) 913,300 3,315,279 Symantec Corporation (a) 192,600 3,617,028 Tektronix, Inc. 23,000 498,180 Tellabs, Inc. (a) 121,800 945,168 Texas Instruments, Inc. 468,500 11,693,760 Xerox Corporation (a) 259,800 3,442,350 Xilinx, Inc. 94,400 2,543,136 Yahoo! Inc. (a) 354,960 12,249,669 -------------- 304,471,782 -------------- MATERIALS - 1.7% Air Products & Chemicals, Inc. 61,400 3,606,022 Airgas, Inc. 17,800 390,176 Aleris International Inc. (a) 6,100 130,906 Bemis Company, Inc. 30,400 837,824 Cabot Corporation 17,900 546,845 Calgon Carbon Corporation 10,100 87,163 Caraustar Industries, Inc. (a) 7,200 64,368 Crown Holdings, Inc. (a) 43,200 650,160 Ecolab, Inc. 60,800 1,988,768 Engelhard Corporation 33,500 1,026,105 Fuller (H.B.) Company 7,300 221,336 Lubrizol Corporation 18,100 701,737 MeadWestvaco Corp. 56,712 1,670,168 Minerals Technologies, Inc. 5,300 346,196 Nucor Corporation 43,100 2,202,410 Praxair, Inc. 88,200 4,130,407 Rock-Tenn Company, Class A 9,000 91,350 Rohm & Haas Company 53,487 2,335,242 Schnitzer Steel Industries Inc., Class A 5,800 142,854 Sealed Air Corporation (a) 23,000 1,114,120 Sigma-Aldrich Corporation 18,400 1,075,112 Sonoco Products Company 25,645 694,723 Valspar Corporation 15,000 619,950 Wausau-Mosinee Paper Corporation 15,700 208,339 Wellman, Inc. 8,200 88,232 Worthington Industries, Inc. 22,200 360,972 -------------- 25,331,485 -------------- TELECOMMUNICATION SERVICES - 5.0% AT&T Corporation 216,816 4,147,690 BellSouth Corporation 497,200 13,170,828 Citizens Communications Company 92,367 1,177,679 SBC Communications, Inc. 900,228 21,425,426 Sprint Corp. - FON Group 402,000 8,948,520 Telephone and Data Systems, Inc. 15,400 1,188,726 Verizon Communications 752,822 26,951,028 -------------- 77,009,897 -------------- UTILITIES - 0.8% AGL Resources, Inc. 21,600 747,360 Cascade Natural Gas Corporation 2,900 54,317 Cleco Corporation 12,200 249,124 Energen Corporation 9,700 600,915 Equitable Resources, Inc. 16,400 945,296 IDACORP, Inc. 9,700 261,706 KeySpan Corporation 44,800 1,699,264 MGE Energy, Inc. 4,400 146,608 National Fuel Gas Company 21,800 593,614 NICOR, Inc. 11,400 421,458 NiSource, Inc. 73,647 1,711,556 Northwest Natural Gas Company 6,500 230,750 OGE Energy Corporation 22,900 632,040 Peoples Energy Corporation 10,900 431,640 Pepco Holdings, Inc. 52,600 1,139,842 Questar Corporation 23,100 1,349,040 Southern Union Company (a) 27,706 663,282 WGL Holdings 12,600 381,906 -------------- 12,259,718 -------------- TOTAL INVESTMENTS - 99.6% $1,520,301,156 (Cost $1,415,051,549)(b) OTHER ASSETS, LESS LIABILITIES - 0.4% $6,585,669 NET ASSETS - 100.0% $1,526,886,825 ============== - --------------------------------------------------- (a) Non-income producing security. (b) The aggregate cost for federal income tax purposes is $1,513,292,383. The aggregate gross unrealized appreciation is $253,271,563, and the aggregate gross unrealized depreciation is $246,262,790, resulting in net unrealized appreciation of $7,008,773. Copyright in the Domini 400 Social Index(SM) is owned by KLD Research & Analytics, Inc., and the Index is reproduced here by permission. No portion of the Index may be reproduced or distributed by any means or in any medium without the express written consent of the copyright owner. SEE NOTES TO PORTFOLIO OF INVESTMENTS DOMINI SOCIAL INDEX PORTFOLIO NOTES TO PORTFOLIO OF INVESTMENTS APRIL 30, 2005 (UNAUDITED) ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES Domini Social Index Portfolio is registered under the Investment Company Act of 1940 as a diversified, open-end management investment company that was organized as a trust under the laws of the State of New York on June 7, 1989. The Portfolio intends to correlate its investment portfolio as closely as practicable with the Domini 400 Social IndexSM, which is a common stock index developed and maintained by KLD Research & Analytics, Inc. The Declaration of Trust permits the Trustees to issue an unlimited number of beneficial interests in the Portfolio. The Portfolio commenced operations effective on August 10, 1990, and began investment operations on June 3, 1991. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The following is a summary of the Portfolio's significant accounting policies. (A) VALUATION OF INVESTMENTS. The Portfolio values securities listed or traded on national securities exchanges at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price which represents the current value of the security. Securities listed on the NASDAQ National Market System are valued using the NASDAQ Official Closing Price (NOCP). If an NOCP is not available for a security listed on the NASDAQ National Market System, the security will be valued at the last sale price or, if there have been no sales that day, at the mean of the current bid and ask price. Portfolio securities for which there are no such quotations or valuations are valued at fair value as determined in good faith by or at the direction of the Portfolio's Board of Trustees. (B) DIVIDEND INCOME. Dividend Income is recorded on the ex-dividend date. (C) FEDERAL TAXES. The Portfolio will be treated as a partnership for U.S. federal income tax purposes and is therefore not subject to U.S. federal income tax. As such, each investor in the Portfolio will be taxed on its share of the Portfolio's ordinary income and capital gains. It is intended that the Portfolio will be managed in such a way that an investor will be able to satisfy the requirements of the Internal Revenue Code applicable to regulated investment companies. (D) OTHER. Investment transactions are accounted for on the trade date. Gains and losses are determined on the basis of identified cost. The Portfolio's Portfolio of Investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the Portfolio's investors. For more information regarding the Portfolio and its holdings, please see the Portfolio's most recent Registration Statement and Semi-Annual Report. Item 2. Controls and Procedures (a) Based on an evaluation of the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended, the "Disclosure Controls") as of a date within 90 days of the filing date (the "Filing Date") of this Form N-Q (the "Report"), the registrant's principal executive officer and principal financial officer has concluded that the Disclosure Controls are effectively designed to ensure that information that is required to be disclosed by the registrant in the Report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, including ensuring that information required to be disclosed in the Report is accumulated and communicated to the registrant's management, including the registrant's principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosures. (b) There were no changes in the registrant's internal controls 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 quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3. Exhibits Certifications for each principal executive and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940, as amended, (17 CFR 270.30a-2(a)) 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. Green Century Funds /s/ Kristina A. Curtis - ---------------------- Kristina A. Curtis President and Principal Executive Officer June 28, 2005 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. /s/ Kristina A. Curtis - ---------------------- Kristina A. Curtis President and Principal Executive Officer June 28, 2005 /s/ Ethan Berkwits - ---------------------- Ethan Berkwits Treasurer and Principal Financial Officer June 28, 2005 EX-99.CERT 2 cert99.txt GREEN CENTURY FUNDS EXHIBIT TO FORM N-Q I, Kristina A. Curtis, certify that: 1. I have reviewed this report on Form N-Q of Green Century Funds; 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 schedules 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 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 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. /s/ Kristina A. Curtis - ---------------------- Kristina A. Curtis President and Principal Executive Officer June 28, 2005 I, Ethan Berkwits, certify that: 1. I have reviewed this report on Form N-Q of Green Century Funds; 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 schedules 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 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 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. /s/ Ethan Berkwits - ---------------------- Ethan Berkwits Treasurer and Principal Financial Officer June 28, 2005 -----END PRIVACY-ENHANCED MESSAGE-----