N-Q 1 aam073104nq.txt AMERIPRIME FUNDS JULY 2004 AAM N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-09096 -------------------------------------------- AmeriPrime Funds ------------------------------------------------------------------------------- (Exact name of registrant as specified in charter) Unified Fund Services, Inc. 431 N. Pennsylvania Street Indianapolis, IN 46204 ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Lynn Wood Unified Fund Services, Inc. 431 N. Pennsylvania St. Indianapolis, IN 46204 ------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 317-917-7000 Date of fiscal year end: 10/31 -------------------- Date of reporting period: 07/31/04 ----------- Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. Item 1. Schedule of Investments. AAM Equity Fund Schedule of Investments July 31, 2004 (Unaudited) Common Stocks - 97.82% Shares Value -------- ----------- Aircraft Engines & Engine Parts - 1.60% United Technologies Corp. 2,000 $ 187,000 ----------- Beverages - 1.78% Coca-Cola Co. 4,725 207,239 ----------- Biological Products - 1.95% Amgen, Inc. (a) 4,000 227,520 ----------- Chemical & Allied Products - 2.05% Dow Chemical Co. 6,000 239,340 ----------- Computer Communication Equipment - 2.15% Cisco Systems, Inc. (a) 12,000 250,320 ----------- Crude Petroleum & Natural Gas - 2.72% EOG Resourses, Inc. 5,000 317,750 ----------- Electromedical & Electrotherapeutic Apparatus - 1.91% Medtronic, Inc. 4,500 223,515 ----------- Electronic & Other Electrical Equipment - 2.34% General Electric Co. 8,225 273,481 ----------- Electronic Computers - 2.43% Dell Computer Corp. (a) 8,000 283,760 ----------- Finance Services - 4.24% American Express Co. 5,400 271,350 First Data Corp. 5,000 223,050 ----------- 494,400 ----------- Fire, Marine & Casualty Insurance - 4.90% Berkshire Hathaway, Inc. - Class B (a) 100 289,400 Markel Corp. (a) 1,000 282,500 ----------- 571,900 ----------- Hospital & Medical Service Plans - 2.12% Anthem, Inc. (a) 3,000 247,410 ----------- Industrial Inorganic Chemicals - 2.37% Praxair, Inc. 7,000 276,150 ----------- Life Insurance - 2.23% Jefferson-Pilot Corp. 5,400 260,172 ----------- Malt Beverages - 2.22% Anheuser-Busch Co. 5,000 259,500 ----------- Miscellaneous Manufacturing Industries - 1.94% International Game Technology 7,000 226,380 ----------- Metal Mining - 2.25% Rio Tinto Plc. (b) 2,500 262,175 ----------- National Commercial Banks - 5.97% Bank of America Corp. 3,000 255,030 Citigroup, Inc. 5,000 220,450 Wachovia Corp. 5,000 221,550 ----------- 697,030 ----------- AAM Equity Fund Schedule of Investments - continued July 31, 2004 (Unaudited) Common Stocks - 97.82% - continued Shares Value -------- ----------- Oil & Gas Field Services - 1.65% Schlumberger Ltd. 3,000 $ 192,960 ----------- Orthopedic, Prosthetic & Surgical Appliances & Supplies - 1.96% Zimmer Holdings Inc. (a) 3,000 228,930 ----------- Perfumes, Cosmetics & Other Toilet Preparations - 3.70% Colgate-Palmolive Co. 4,000 212,800 Estee Lauder Companies, Inc. - Class A 5,000 219,500 ----------- 432,300 ----------- Personal Credit Institutions - 2.38% Capital One Financial Corp. 4,000 277,280 ----------- Petroleum Refining - 6.96% BP Plc. (b) 4,000 225,440 Exxon Mobil Corp. 6,000 277,800 Murphy Oil Corp. 4,000 309,360 ----------- 812,600 ----------- Pharmaceutical Preparations - 5.92% Eli Lilly & Co. 3,000 191,160 Johnson & Johnson 5,000 276,350 Pfizer, Inc. 7,000 223,720 ----------- 691,230 ----------- Radio & TV Broadcasting & Communications Equipment - 1.39% Nokia Corp. (b) 14,000 162,680 ----------- Radiotelephone Communications - 2.20% Dominion Resources, Inc. 4,050 257,013 ----------- Retail - Auto Dealers & Gasoline Stations - 1.51% Carmax, Inc. (a) 8,500 176,800 ----------- Retail - Drug Stores & Proprietary Stores - 2.49% Walgreen Co. 8,000 291,200 ----------- Retail - Lumber & Other Building Materials Dealers - 1.67% Lowe's Companies Inc. 4,000 194,880 ----------- Savings Institutions, Not Federally Chartered - 1.99% Washington Mutual, Inc. 6,000 232,800 ----------- Semiconductors & Related Devices - 2.51% Intel Corp. 12,000 292,560 ----------- Services - Miscellaneous Amusement & Recreation - 1.99% Harrahs Entertainment, Inc. 5,000 232,450 ----------- Services - Prepackaged Software - 4.16% Electronic Arts, Inc. (a) 4,000 200,520 Microsoft Corp. 10,000 284,600 ----------- 485,120 ----------- Ship & Boat Building & Preparing - 2.29% General Dynamics Corp. 2,700 266,814 ----------- State Commercial Banks - 1.97% Bank of New York, Inc. 8,000 229,840 ----------- AAM Equity Fund Schedule of Investments - continued July 31, 2004 (Unaudited) Common Stocks - 97.82% - continued Shares Value -------- ----------- Telephone Communications -1.84% America Movil - Series L (b) 6,000 $ 214,380 ----------- Wholesale - Groceries & Related Products - 2.07% Sysco Corp. 7,000 241,150 ----------- TOTAL COMMON STOCKS (Cost $10,028,559) 11,418,029 ----------- Money Market Securities - 2.21% Huntington Money Market Fund - Investment Shares, 0.21% (c) 258,382 258,382 ----------- TOTAL MONEY MARKET SECURITIES (Cost $258,382) 258,382 ----------- TOTAL INVESTMENTS (Cost $10,286,941) - 100.03% 11,676,411 ----------- Liabilities in excess of other assets - (0.03)% (3,923) ----------- TOTAL NET ASSETS - 100.00% $11,672,488 =========== (a) Non-income producing. (b) American Depositary Receipts. (c) Variable rate security; the coupon rate shown represents the rate at July 31, 2004. Tax Related Unrealized appreciation $ 1,604,966 Unrealized depreciation (215,496) ----------- Net unrealized appreciation $ 1,389,470 =========== Aggregate cost of securities for income tax purposes $10,286,941 -----------
Item 2. Controls and Procedures. (a) Based on an evaluation of the registrant's disclosure controls and procedures as of September 22, 2004, the disclosure controls and procedures are reasonably designed to ensure that the information required in filings on Forms N-Q is recorded, processed, summarized, and reported on a timely basis. (b) There were no significant changes in the registrant's internal control over financial reporting 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 by the registrant's principal executive officer and principal financial officer, pursuant to the Sarbanes- Oxley Act of 2002 and required by Rule 30a-2a 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. Registrant AmeriPrime Funds ------------------------------------------- By * /s/ Anthony J. Ghoston, President ----------------------------------------------------- Anthony J. Ghoston, President Date 9/29/04 ------------------------------------------------- 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/ Anthony J. Ghoston, President ---------------------------------------------------- Anthony J. Ghoston, President Date 9/29/04 -------------------------------------------------- By * /s/ Thomas G. Napurano ----------------------------------------------------- Thomas Napurano, Chief Financial Officer and Treasurer Date 9/29/04 --------------------------------------------------