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 811-21619
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Nuveen Equity Premium Income Fund |
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(Exact name of registrant as specified in charter) | ||||||||||
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333 West Wacker Drive, Chicago, Illinois 60606 |
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(Address of principal executive offices) (Zip code) |
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Kevin J. McCarthy—Vice President and Secretary |
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(Name and address of agent for service) |
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Registrant’s telephone number, including area code: |
312-917-7700 |
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Date of fiscal year end: |
12/31 |
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Date of reporting period: |
3/31/2012 |
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Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 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. § 3507.
Item 1. Schedule of Investments
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Portfolio of Investments (Unaudited) |
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Nuveen Equity Premium Income Fund (JPZ) |
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March 31, 2012 |
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Shares |
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Description (1) |
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Value |
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Common Stocks – 101.6% (5) |
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|
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Aerospace & Defense – 2.6% |
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|
|
44,366 |
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Boeing Company |
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$ 3,299,499 |
|
65,577 |
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Honeywell International Inc. |
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4,003,476 |
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32,905 |
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Raytheon Company |
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1,736,726 |
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51,543 |
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United Technologies Corporation |
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4,274,976 |
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Total Aerospace & Defense |
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13,314,677 |
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Air Freight & Logistics – 0.9% |
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|
58,393 |
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United Parcel Service, Inc., Class B |
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4,713,483 |
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Airlines – 0.0% |
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3,957 |
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United Continental Holdings Inc., (2) |
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85,076 |
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Auto Components – 0.1% |
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30,296 |
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Cooper Tire & Rubber |
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461,105 |
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Automobiles – 0.8% |
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|
195,811 |
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Ford Motor Company |
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2,445,679 |
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32,461 |
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Harley-Davidson, Inc. |
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1,593,186 |
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Total Automobiles |
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4,038,865 |
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Beverages – 2.4% |
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|
105,041 |
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Coca-Cola Company |
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7,774,084 |
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70,806 |
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PepsiCo, Inc. |
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4,697,978 |
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|
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Total Beverages |
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12,472,062 |
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|
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Biotechnology – 1.0% |
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|
|
41,504 |
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Amgen Inc. |
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2,821,857 |
|
18,099 |
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Celgene Corporation, (2) |
|
1,403,034 |
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23,687 |
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Gilead Sciences, Inc., (2) |
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1,157,110 |
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Total Biotechnology |
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5,382,001 |
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Building Products – 0.1% |
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42,748 |
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Masco Corporation |
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571,541 |
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Capital Markets – 1.8% |
|
|
|
109,476 |
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Charles Schwab Corporation |
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1,573,170 |
|
18,872 |
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Goldman Sachs Group, Inc. |
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2,347,111 |
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48,534 |
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Jefferies Group, Inc. |
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914,381 |
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40,593 |
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Legg Mason, Inc. |
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1,133,762 |
|
107,319 |
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Morgan Stanley |
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2,107,745 |
|
38,635 |
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Waddell & Reed Financial, Inc., Class A |
|
1,252,160 |
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|
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Total Capital Markets |
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9,328,329 |
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Chemicals – 2.2% |
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|
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53,348 |
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Dow Chemical Company |
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1,847,975 |
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54,215 |
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E.I. Du Pont de Nemours and Company |
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2,867,974 |
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34,457 |
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Eastman Chemical Company |
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1,781,082 |
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25,853 |
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Monsanto Company |
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2,062,035 |
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53,293 |
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Olin Corporation |
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1,159,123 |
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60,403 |
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RPM International, Inc. |
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1,581,955 |
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Total Chemicals |
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11,300,144 |
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Commercial Banks – 3.1% |
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33,724 |
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Comerica Incorporated |
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1,091,309 |
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19,256 |
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HSBC Holdings PLC, Sponsored ADR |
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854,774 |
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10,984 |
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PNC Financial Services Group, Inc. |
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708,358 |
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2,869 |
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Toronto-Dominion Bank |
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243,722 |
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148,597 |
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U.S. Bancorp |
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4,707,553 |
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246,827 |
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Wells Fargo & Company |
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8,426,674 |
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Total Commercial Banks |
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16,032,390 |
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Commercial Services & Supplies – 0.7% |
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3,177 |
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Avery Dennison Corporation |
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95,723 |
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56,149 |
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Deluxe Corporation |
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1,315,010 |
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40,642 |
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Pitney Bowes Inc. |
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714,486 |
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16,031 |
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R.R. Donnelley & Sons Company |
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198,624 |
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35,497 |
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Waste Management, Inc. |
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1,240,975 |
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Total Commercial Services & Supplies |
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3,564,818 |
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Communications Equipment – 2.4% |
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14,156 |
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ADTRAN, Inc. |
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441,526 |
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3,408 |
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Ciena Corporation, (2) |
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55,176 |
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230,385 |
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Cisco Systems, Inc. |
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4,872,643 |
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11,034 |
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JDS Uniphase Corporation, (2) |
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159,883 |
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15,048 |
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Motorola Mobility Holdings Inc., (2) |
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590,484 |
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25,703 |
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Motorola Solutions Inc. |
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1,306,483 |
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71,809 |
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QUALCOMM, Inc. |
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4,884,448 |
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Total Communications Equipment |
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12,310,643 |
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Computers & Peripherals – 5.4% |
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37,824 |
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Apple, Inc., (2) |
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22,674,353 |
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67,332 |
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Dell Inc., (2) |
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1,117,711 |
|
112,953 |
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EMC Corporation, (2) |
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3,375,036 |
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29,315 |
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Hewlett-Packard Company |
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698,576 |
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Total Computers & Peripherals |
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27,865,676 |
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Consumer Finance – 0.4% |
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|
17,046 |
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American Express Company |
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986,282 |
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32,690 |
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Discover Financial Services |
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1,089,885 |
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Total Consumer Finance |
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2,076,167 |
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Containers & Packaging – 0.3% |
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43,759 |
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Packaging Corp. of America |
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1,294,829 |
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5,718 |
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Sonoco Products Company |
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189,838 |
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Total Containers & Packaging |
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1,484,667 |
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Distributors – 0.4% |
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34,770 |
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Genuine Parts Company |
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2,181,818 |
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Diversified Consumer Services – 0.1% |
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7,623 |
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Apollo Group, Inc., (2) |
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294,553 |
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Diversified Financial Services – 3.8% |
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|
414,679 |
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Bank of America Corporation |
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3,968,478 |
|
80,886 |
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Citigroup Inc. |
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2,956,383 |
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6,790 |
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CME Group, Inc. |
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1,964,551 |
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198,535 |
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JP Morgan Chase & Co. |
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9,128,639 |
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47,644 |
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New York Stock Exchange Euronext |
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1,429,796 |
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Total Diversified Financial Services |
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19,447,847 |
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Diversified Telecommunication Services – 3.4% |
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306,134 |
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AT&T Inc. |
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9,560,565 |
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29,237 |
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CenturyLink Inc. |
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1,130,010 |
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250,097 |
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Frontier Communications Corporation |
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1,042,904 |
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141,690 |
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Verizon Communications Inc. |
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5,416,809 |
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18,198 |
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Windstream Corporation |
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213,099 |
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Total Diversified Telecommunication Services |
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17,363,387 |
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Electric Utilities – 1.4% |
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101,943 |
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Duke Energy Corporation |
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2,141,822 |
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6,959 |
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Exelon Corporation |
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272,862 |
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27,323 |
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Great Plains Energy Incorporated |
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553,837 |
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80,800 |
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Pepco Holdings, Inc. |
|
1,526,312 |
|
29,370 |
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Progress Energy, Inc. |
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1,559,841 |
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27,732 |
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Southern Company |
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1,245,999 |
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Total Electric Utilities |
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7,300,673 |
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Electrical Equipment – 0.7% |
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|
|
49,909 |
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Emerson Electric Company |
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2,604,252 |
|
14,553 |
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Rockwell Automation, Inc. |
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1,159,874 |
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|
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Total Electrical Equipment |
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3,764,126 |
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Electronic Equipment & Instruments – 0.3% |
|
|
|
118,215 |
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Corning Incorporated |
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1,664,467 |
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Energy Equipment & Services – 2.1% |
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|
|
6,964 |
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Diamond Offshore Drilling, Inc. |
|
464,847 |
|
18,452 |
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Ensco PLC |
|
976,664 |
|
83,720 |
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Halliburton Company |
|
2,778,667 |
|
16,059 |
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Patterson-UTI Energy, Inc. |
|
277,660 |
|
73,781 |
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Schlumberger Limited |
|
5,159,505 |
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16,157 |
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Tidewater Inc. |
|
872,801 |
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Total Energy Equipment & Services |
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10,530,144 |
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Food & Staples Retailing – 1.6% |
|
|
|
74,719 |
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CVS Caremark Corporation |
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3,347,411 |
|
38,696 |
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SUPERVALU INC. |
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220,954 |
|
76,068 |
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Wal-Mart Stores, Inc. |
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4,655,362 |
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|
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Total Food & Staples Retailing |
|
8,223,727 |
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|
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Food Products – 1.1% |
|
|
|
116,351 |
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Kraft Foods Inc. |
|
4,422,502 |
|
57,000 |
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Sara Lee Corporation |
|
1,227,210 |
|
|
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Total Food Products |
|
5,649,712 |
|
|
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Gas Utilities – 1.0% |
|
|
|
36,141 |
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AGL Resources Inc. |
|
1,417,450 |
|
28,666 |
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Atmos Energy Corporation |
|
901,832 |
|
22,995 |
|
National Fuel Gas Company |
|
1,106,519 |
|
21,483 |
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ONEOK, Inc. |
|
1,754,302 |
|
|
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Total Gas Utilities |
|
5,180,103 |
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|
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Health Care Equipment & Supplies – 1.0% |
|
|
|
4,460 |
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Hologic Inc., (2) |
|
96,113 |
|
3,518 |
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Intuitive Surgical, Inc., (2) |
|
1,905,877 |
|
78,706 |
|
Medtronic, Inc. |
|
3,084,488 |
|
|
|
Total Health Care Equipment & Supplies |
|
5,086,478 |
|
|
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Health Care Providers & Services – 2.3% |
|
|
|
6,901 |
|
Brookdale Senior Living Inc., (2) |
|
129,187 |
|
15,450 |
|
Coventry Health Care, Inc., (2) |
|
549,557 |
|
35,037 |
|
Express Scripts, Holding Company, (2) |
|
1,898,305 |
|
17,609 |
|
HCA Holdings Inc., (2) |
|
435,647 |
|
1,116 |
|
Henry Schein Inc., (2) |
|
84,459 |
|
39,267 |
|
Kindred Healthcare Inc., (2) |
|
339,267 |
|
30,795 |
|
Medco Health Solutions Inc., (2) |
|
2,164,889 |
|
73,429 |
|
UnitedHealth Group Incorporated |
|
4,327,905 |
|
25,221 |
|
Wellpoint Inc. |
|
1,861,310 |
|
|
|
Total Health Care Providers & Services |
|
11,790,526 |
|
|
|
Health Care Technology – 0.0% |
|
|
|
114 |
|
Cerner Corporation, (2) |
|
8,682 |
|
|
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Hotels, Restaurants & Leisure – 1.4% |
|
|
|
22,200 |
|
Carnival Corporation |
|
712,176 |
|
42,761 |
|
International Game Technology |
|
717,957 |
|
2,272 |
|
Interval Leisure Group Inc., (2) |
|
39,533 |
|
60,499 |
|
McDonald’s Corporation |
|
5,934,952 |
|
|
|
Total Hotels, Restaurants & Leisure |
|
7,404,618 |
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Household Durables – 0.8% |
|
|
|
9,688 |
|
Garmin Limited |
|
454,852 |
|
64,653 |
|
Newell Rubbermaid Inc. |
|
1,151,470 |
|
22,404 |
|
Tupperware Corporation |
|
1,422,654 |
|
11,356 |
|
Whirlpool Corporation |
|
872,822 |
|
|
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Total Household Durables |
|
3,901,798 |
|
|
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Household Products – 2.0% |
|
|
|
15,477 |
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Colgate-Palmolive Company |
|
1,513,341 |
|
12,645 |
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Kimberly-Clark Corporation |
|
934,339 |
|
112,990 |
|
Procter & Gamble Company |
|
7,594,058 |
|
|
|
Total Household Products |
|
10,041,738 |
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Industrial Conglomerates – 2.5% |
|
|
|
28,842 |
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3M Co. |
|
2,572,995 |
|
505,901 |
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General Electric Company |
|
10,153,433 |
|
57 |
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Siemens AG, Sponsored ADR |
|
5,748 |
|
|
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Total Industrial Conglomerates |
|
12,732,176 |
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Insurance – 2.1% |
|
|
|
47,749 |
|
Allstate Corporation |
|
1,571,897 |
|
8,871 |
|
Arthur J. Gallagher & Co. |
|
317,050 |
|
46,985 |
|
Fidelity National Title Group Inc., Class A |
|
847,140 |
|
26,683 |
|
Hartford Financial Services Group, Inc. |
|
562,478 |
|
52,700 |
|
Kemper Corporation |
|
1,595,756 |
|
63,881 |
|
Lincoln National Corporation |
|
1,683,903 |
|
63,867 |
|
Marsh & McLennan Companies, Inc. |
|
2,094,199 |
|
35,702 |
|
Travelers Companies, Inc. |
|
2,113,558 |
|
|
|
Total Insurance |
|
10,785,981 |
|
|
|
Internet & Catalog Retail – 1.0% |
|
|
|
15,029 |
|
Amazon.com, Inc., (2) |
|
3,043,523 |
|
3,103 |
|
Hosting Site Network, Inc. |
|
118,007 |
|
2,786 |
|
priceline.com Incorporated, (2) |
|
1,998,955 |
|
|
|
Total Internet & Catalog Retail |
|
5,160,485 |
|
|
|
Internet Software & Services – 2.1% |
|
|
|
10,937 |
|
Akamai Technologies, Inc., (2) |
|
401,388 |
|
52,022 |
|
eBay Inc., (2) |
|
1,919,092 |
|
10,446 |
|
Google Inc., Class A, (2) |
|
6,698,393 |
|
44,605 |
|
United Online, Inc. |
|
218,118 |
|
5,616 |
|
ValueClick, Inc., (2) |
|
110,860 |
|
10,122 |
|
VeriSign, Inc., (2) |
|
388,077 |
|
72,091 |
|
Yahoo! Inc., (2) |
|
1,097,225 |
|
|
|
Total Internet Software & Services |
|
10,833,153 |
|
|
|
IT Services – 4.0% |
|
|
|
34,496 |
|
Automatic Data Processing, Inc. |
|
1,903,834 |
|
17,199 |
|
Cognizant Technology Solutions Corporation, Class A, (2) |
|
1,323,463 |
|
32,696 |
|
Fidelity National Information Services |
|
1,082,892 |
|
51,648 |
|
International Business Machines Corporation (IBM) |
|
10,776,355 |
|
3,197 |
|
Lender Processing Services Inc. |
|
83,122 |
|
5,940 |
|
MasterCard, Inc. |
|
2,498,008 |
|
42,671 |
|
Paychex, Inc. |
|
1,322,374 |
|
13,859 |
|
Visa Inc. |
|
1,635,362 |
|
|
|
Total IT Services |
|
20,625,410 |
|
|
|
Leisure Equipment & Products – 0.3% |
|
|
|
22,544 |
|
Polaris Industries Inc. |
|
1,626,550 |
|
|
|
Machinery – 2.9% |
|
|
|
28,606 |
|
Caterpillar Inc. |
|
3,047,111 |
|
17,395 |
|
Cummins Inc. |
|
2,088,096 |
|
20,434 |
|
Deere & Company |
|
1,653,111 |
|
13,600 |
|
Graco Inc. |
|
721,616 |
|
13,107 |
|
Ingersoll Rand Company Limited, Class A |
|
541,974 |
|
16,893 |
|
Parker Hannifin Corporation |
|
1,428,303 |
|
11,767 |
|
Snap-on Incorporated |
|
717,434 |
|
24,465 |
|
SPX Corporation |
|
1,896,771 |
|
27,348 |
|
Stanley Black & Decker Inc. |
|
2,104,702 |
|
12,000 |
|
Timken Company |
|
608,880 |
|
|
|
Total Machinery |
|
14,807,998 |
|
|
|
Media – 2.7% |
|
|
|
56,665 |
|
CBS Corporation, Class B |
|
1,921,510 |
|
117,549 |
|
Comcast Corporation, Class A |
|
3,527,645 |
|
39,613 |
|
New York Times, Class A, (2) |
|
268,972 |
|
35,396 |
|
Omnicom Group, Inc. |
|
1,792,807 |
|
114,479 |
|
Regal Entertainment Group, Class A |
|
1,556,914 |
|
103,897 |
|
Walt Disney Company |
|
4,548,611 |
|
|
|
Total Media |
|
13,616,459 |
|
|
|
Metals & Mining – 1.0% |
|
|
|
88,284 |
|
Alcoa Inc. |
|
884,606 |
|
44,474 |
|
Freeport-McMoRan Copper & Gold, Inc. |
|
1,691,791 |
|
6,726 |
|
Newmont Mining Corporation |
|
344,842 |
|
28,148 |
|
Nucor Corporation |
|
1,208,957 |
|
32,749 |
|
Southern Copper Corporation |
|
1,038,471 |
|
|
|
Total Metals & Mining |
|
5,168,667 |
|
|
|
Multiline Retail – 1.2% |
|
|
|
10 |
|
Dollar Tree Stores Inc., (2) |
|
945 |
|
4,000 |
|
Family Dollar Stores, Inc. |
|
253,120 |
|
36,680 |
|
Macy’s, Inc. |
|
1,457,296 |
|
36,926 |
|
Nordstrom, Inc. |
|
2,057,517 |
|
8,076 |
|
Sears Holding Corporation, (2) |
|
535,035 |
|
34,401 |
|
Target Corporation |
|
2,004,546 |
|
|
|
Total Multiline Retail |
|
6,308,459 |
|
|
|
Multi-Utilities – 2.1% |
|
|
|
40,360 |
|
Ameren Corporation |
|
1,314,929 |
|
25,585 |
|
Consolidated Edison, Inc. |
|
1,494,676 |
|
71,595 |
|
Integrys Energy Group, Inc. |
|
3,793,819 |
|
15,861 |
|
Northwestern Corporation |
|
562,431 |
|
29,588 |
|
OGE Energy Corp. |
|
1,582,958 |
|
60,504 |
|
Public Service Enterprise Group Incorporated |
|
1,852,027 |
|
|
|
Total Multi-Utilities |
|
10,600,840 |
|
|
|
Oil, Gas & Consumable Fuels – 9.6% |
|
|
|
9,051 |
|
Cenovus Energy Inc. |
|
325,293 |
|
94,802 |
|
Chevron Corporation |
|
10,166,566 |
|
77,146 |
|
ConocoPhillips |
|
5,863,867 |
|
39,168 |
|
CONSOL Energy Inc. |
|
1,335,629 |
|
26,351 |
|
Continental Resources Inc., (2) |
|
2,261,443 |
|
16,151 |
|
EnCana Corporation |
|
317,367 |
|
28,911 |
|
EOG Resources, Inc. |
|
3,212,012 |
|
220,293 |
|
Exxon Mobil Corporation |
|
19,106,012 |
|
48,380 |
|
Occidental Petroleum Corporation |
|
4,607,227 |
|
4,626 |
|
Total SA, Sponsored ADR |
|
236,481 |
|
76,829 |
|
Valero Energy Corporation |
|
1,979,883 |
|
|
|
Total Oil, Gas & Consumable Fuels |
|
49,411,780 |
|
|
|
Pharmaceuticals – 7.1% |
|
|
|
91,791 |
|
Abbott Laboratories |
|
5,625,870 |
|
120,797 |
|
Bristol-Myers Squibb Company |
|
4,076,899 |
|
57,664 |
|
Eli Lilly and Company |
|
2,322,129 |
|
129,934 |
|
Johnson & Johnson |
|
8,570,447 |
|
165,408 |
|
Merck & Company Inc. |
|
6,351,667 |
|
384,228 |
|
Pfizer Inc. |
|
8,706,606 |
|
14,222 |
|
Sanofi-Aventis, Sponsored ADR |
|
551,103 |
|
|
|
Total Pharmaceuticals |
|
36,204,721 |
|
|
|
Professional Services – 0.1% |
|
|
|
3,665 |
|
Manpower Inc. |
|
173,611 |
|
20,209 |
|
Resources Connection, Inc. |
|
283,936 |
|
|
|
Total Professional Services |
|
457,547 |
|
|
|
Real Estate Investment Trust – 2.5% |
|
|
|
111,810 |
|
Annaly Capital Management Inc. |
|
1,768,834 |
|
39,521 |
|
Brandywine Realty Trust |
|
453,701 |
|
44,183 |
|
CapLease Inc. |
|
178,057 |
|
25,456 |
|
CommonWealth REIT |
|
473,991 |
|
55,131 |
|
CubeSmart |
|
656,059 |
|
15,432 |
|
Health Care REIT, Inc. |
|
848,143 |
|
49,625 |
|
Healthcare Realty Trust, Inc. |
|
1,091,750 |
|
45,684 |
|
Hospitality Properties Trust |
|
1,209,255 |
|
88,469 |
|
Lexington Corporate Properties Trust |
|
795,336 |
|
27,077 |
|
Liberty Property Trust |
|
967,190 |
|
17,263 |
|
Medical Properties Trust Inc. |
|
160,201 |
|
28,311 |
|
MFA Mortgage Investments, Inc. |
|
211,483 |
|
26,716 |
|
Senior Housing Properties Trust |
|
589,088 |
|
11,215 |
|
Sun Communities Inc. |
|
485,946 |
|
25,359 |
|
Ventas Inc. |
|
1,447,999 |
|
54,475 |
|
Weyerhaeuser Company |
|
1,194,092 |
|
|
|
Total Real Estate Investment Trust |
|
12,531,125 |
|
|
|
Road & Rail – 0.8% |
|
|
|
17,765 |
|
Norfolk Southern Corporation |
|
1,169,470 |
|
25,475 |
|
Union Pacific Corporation |
|
2,738,053 |
|
|
|
Total Road & Rail |
|
3,907,523 |
|
|
|
Semiconductors & Equipment – 2.6% |
|
|
|
25,275 |
|
Analog Devices, Inc. |
|
1,021,110 |
|
96,369 |
|
Applied Materials, Inc. |
|
1,198,830 |
|
21,444 |
|
Broadcom Corporation, Class A |
|
842,749 |
|
252,373 |
|
Intel Corporation |
|
7,094,205 |
|
12,846 |
|
Intersil Holding Corporation, Class A |
|
143,875 |
|
3,087 |
|
Lam Research Corporation, (2) |
|
137,742 |
|
24,776 |
|
Microchip Technology Incorporated |
|
921,667 |
|
27,856 |
|
NVIDIA Corporation, (2) |
|
428,704 |
|
51,579 |
|
Texas Instruments Incorporated |
|
1,733,570 |
|
|
|
Total Semiconductors & Equipment |
|
13,522,452 |
|
|
|
Software – 3.8% |
|
|
|
23,572 |
|
Adobe Systems Incorporated, (2) |
|
808,755 |
|
18,599 |
|
Autodesk, Inc., (2) |
|
787,110 |
|
349,236 |
|
Microsoft Corporation |
|
11,262,861 |
|
181,902 |
|
Oracle Corporation |
|
5,304,262 |
|
9,475 |
|
Salesforce.com, Inc., (2) |
|
1,463,982 |
|
|
|
Total Software |
|
19,626,970 |
|
|
|
Specialty Retail – 2.6% |
|
|
|
23,495 |
|
Abercrombie & Fitch Co., Class A |
|
1,165,587 |
|
41,497 |
|
American Eagle Outfitters, Inc. |
|
713,333 |
|
21,475 |
|
Best Buy Co., Inc. |
|
508,528 |
|
86,692 |
|
Home Depot, Inc. |
|
4,361,475 |
|
36,817 |
|
Limited Brands, Inc. |
|
1,767,216 |
|
74,638 |
|
Lowe’s Companies, Inc. |
|
2,342,140 |
|
364 |
|
Orchard Supply Hardware Stores Corporation, (2) |
|
7,517 |
|
472 |
|
Ross Stores, Inc. |
|
27,423 |
|
13,465 |
|
Tiffany & Co. |
|
930,835 |
|
36,102 |
|
TJX Companies, Inc. |
|
1,433,610 |
|
|
|
Total Specialty Retail |
|
13,257,664 |
|
|
|
Textiles, Apparel & Luxury Goods – 0.4% |
|
|
|
7,159 |
|
Cherokee Inc. |
|
81,541 |
|
15,061 |
|
VF Corporation |
|
2,198,605 |
|
|
|
Total Textiles, Apparel & Luxury Goods |
|
2,280,146 |
|
|
|
Thrifts & Mortgage Finance – 0.3% |
|
|
|
36,703 |
|
Hudson City Bancorp, Inc. |
|
268,299 |
|
60,610 |
|
New York Community Bancorp Inc. |
|
843,085 |
|
38,788 |
|
TrustCo Bank Corporation NY |
|
221,479 |
|
|
|
Total Thrifts & Mortgage Finance |
|
1,332,863 |
|
|
|
Tobacco – 2.3% |
|
|
|
110,378 |
|
Altria Group, Inc. |
|
3,407,369 |
|
81,518 |
|
Philip Morris International |
|
7,223,310 |
|
21,468 |
|
Reynolds American Inc. |
|
889,634 |
|
4,866 |
|
Vector Group Ltd. |
|
86,226 |
|
|
|
Total Tobacco |
|
11,606,539 |
|
|
|
Wireless Telecommunication Services – 0.0% |
|
|
|
5,500 |
|
USA Mobility Inc. |
|
76,616 |
|
|
|
Total Common Stocks (cost $395,989,458) |
|
521,318,165 |
|
Principal |
|
|
|
|
|
|
|
|
|
|
|
Amount (000) |
|
Description (1) |
|
Coupon |
|
Maturity |
|
|
|
Value |
|
|
|
Short-Term Investments – 4.3% |
|
|
|
|
|
|
|
|
|
$ 21,799 |
|
Repurchase Agreement with Fixed Income Clearing Corporation, dated 3/30/12, repurchase price $21,799,242, collateralized by $20,685,000 U.S. Treasury Notes, 2.375%, due 3/31/16, value $22,236,375 |
|
0.010% |
|
4/02/12 |
|
|
|
$ 21,799,224 |
|
|
|
Total Short-Term Investments (cost $21,799,224) |
|
|
|
|
|
|
|
21,799,224 |
|
|
|
Total Investments (cost $417,788,682) - 105.9% |
|
|
|
|
|
|
|
543,117,389 |
|
|
|
Other Assets Less Liabilities - (5.9)% (3) |
|
|
|
|
|
|
|
(30,348,061 |
) |
|
|
Net Assets - 100% |
|
|
|
|
|
|
|
$ 512,769,328 |
|
Investments in Derivatives at March 31, 2012
Call Options Written outstanding:
Number of |
|
|
|
Notional |
|
Expiration |
|
Strike |
|
|
| ||
Contracts |
|
Type |
|
Amount (4) |
|
Date |
|
Price |
|
Value |
| ||
|
|
Call Options Written - (4.1)% |
|
|
|
|
|
|
|
|
| ||
(459 |
) |
S&P 500 Index |
|
$ (63,112,500 |
) |
4/21/12 |
|
$1,375.0 |
|
$ |
(1,836,000 |
) | |
(468 |
) |
S&P 500 Index |
|
(65,520,000 |
) |
4/21/12 |
|
1,400.0 |
|
(1,001,520 |
) | ||
(429 |
) |
S&P 500 Index |
|
(56,842,500 |
) |
4/21/12 |
|
1,325.0 |
|
(3,642,210 |
) | ||
(429 |
) |
S&P 500 Index |
|
(57,915,000 |
) |
4/21/12 |
|
1,350.0 |
|
(2,642,640 |
) | ||
(500 |
) |
S&P 500 Index |
|
(66,250,000 |
) |
5/19/12 |
|
1,325.0 |
|
(4,470,000 |
) | ||
(449 |
) |
S&P 500 Index |
|
(60,615,000 |
) |
5/19/12 |
|
1,350.0 |
|
(3,066,670 |
) | ||
(452 |
) |
S&P 500 Index |
|
(62,150,000 |
) |
5/19/12 |
|
1,375.0 |
|
(2,205,760 |
) | ||
(488 |
) |
S&P 500 Index |
|
(68,320,000 |
) |
6/16/12 |
|
1,400.0 |
|
(1,991,040 |
) | ||
(3,674 |
) |
Total Call Options Written (premiums received $14,529,755) |
|
$(500,725,000 |
) |
|
|
|
|
$ |
(20,855,840 |
) | |
|
|
Fair Value Measurements |
| ||||||||||||||||||||||||
|
|
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. 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 management’s assumptions in determining the fair value of investments). |
| ||||||||||||||||||||||||
|
|
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of March 31, 2012: |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
| ||||||||||||||||
|
|
Long-Term Investments: |
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
Common Stocks |
|
$521,318,165 |
|
$ – |
|
$ – |
|
$521,318,165 |
| ||||||||||||||||
|
|
Short-Term Investments: |
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
Repurchase Agreements |
|
– |
|
21,799,224 |
|
– |
|
21,799,224 |
| ||||||||||||||||
|
|
Derivatives: |
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
Call Options Written |
|
(20,855,840 |
) |
– |
|
– |
|
(20,855,840 |
) | ||||||||||||||||
|
|
Total |
|
$500,462,325 |
|
$21,799,224 |
|
$ – |
|
$522,261,549 |
| ||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
The following is a reconciliation of the Fund’s Level 3 investments held at the beginning and end of the measurement period: | |||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
|
|
|
|
Level 3 |
|
Level 3 |
|
Level 3 |
| ||||||||||||||||
|
|
|
|
|
|
Common Stocks |
|
Preferred Stocks |
|
Total |
| ||||||||||||||||
|
|
Balance at the beginning of period |
|
|
|
$ 881 |
|
$ 881 |
|
$ 1,762 |
| ||||||||||||||||
|
|
Gains (losses): |
|
|
|
|
|
|
|
|
| ||||||||||||||||
|
|
Net realized gains (losses) |
|
|
|
(55 |
) |
(2 |
) |
(57 |
) | ||||||||||||||||
|
|
Net change in unrealized appreciation (depreciation) |
|
6,702 |
|
91 |
|
6,793 |
| ||||||||||||||||||
|
|
Purchases at cost |
|
|
|
– |
|
– |
|
– |
| ||||||||||||||||
|
|
Sales at proceeds |
|
|
|
(11 |
) |
(970 |
) |
(981 |
) | ||||||||||||||||
|
|
Net discounts (premiums) |
|
|
|
– |
|
– |
|
– |
| ||||||||||||||||
|
|
Transfers in to |
|
|
|
– |
|
– |
|
– |
| ||||||||||||||||
|
|
Transfers out of |
|
|
|
(7,517 |
) |
– |
|
(7,517 |
) | ||||||||||||||||
|
|
Balance at the end of period |
|
|
|
$ – |
|
$ – |
|
$ – |
| ||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
During the period ended March 31, 2012, the Fund recognized no transfers to or from Level 1 or Level 2. Transfers in and/or out of Level 3 are shown using end of period values. |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
Derivative Instruments and Hedging Activities |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
The Fund records derivative instruments at fair value, with changes in fair value recognized on the Statement of Operations, when applicable. Even though the Fund’s investments in derivatives may represent economic hedges, they are not considered to be hedge transactions for financial reporting purposes. |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
The following table presents the fair value of all derivative instruments held by the Fund as of March 31, 2012, the location of these instruments on the Statement of Assets and Liablilities, and the primary underlying risk exposure. |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
|
|
|
|
Location on the Statements of Assets and Liabilities |
| ||||||||||||||||||||
|
|
Underlying |
|
Derivative |
|
Asset Derivatives |
|
Liability Derivatives |
| ||||||||||||||||||
|
|
Risk Exposure |
|
Instrument |
|
Location |
|
Value |
|
Location |
|
Value |
| ||||||||||||||
|
|
Equity Price |
|
Options |
|
— |
|
$ |
— |
|
Call options written, at value |
|
$ 20,855,840 |
| |||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
Income Tax Information |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recording income, timing differences in recognizing certain gains and losses on investment transactions and the recognition of unrealized gain or loss for tax (mark-to-market) on option contracts. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund. |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
At March 31, 2012, the cost of investments (excluding investments in derivatives) was $418,200,927. |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in derivatives) at March 31, 2012, were as follows: |
| ||||||||||||||||||||||||
|
|
|
| ||||||||||||||||||||||||
|
|
|
|
|
|
|
| ||||||||||||||||||||
|
|
Gross unrealized: |
|
|
|
|
| ||||||||||||||||||||
|
|
Appreciation |
|
|
|
$ 173,661,089 |
| ||||||||||||||||||||
|
|
Depreciation |
|
|
|
(48,744,627 |
) | ||||||||||||||||||||
|
|
|
|
|
|
|
| ||||||||||||||||||||
|
|
Net unrealized appreciation (depreciation) of investments |
|
|
|
$ 124,916,462 |
| ||||||||||||||||||||
|
|
|
|
|
|
|
| ||||||||||||||||||||
|
|
|
|
|
| ||||||||||||||||||||||
|
|
For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease. |
| ||||||||||||||||||||||||
|
|
|
|
|
| ||||||||||||||||||||||
|
|
(1) |
|
All percentages in the Portfolio of Investments are based on net assets. |
| ||||||||||||||||||||||
|
|
(2) |
|
Non-income producing; issuer has not declared a dividend within the past twelve months. |
| ||||||||||||||||||||||
|
|
(3) |
|
Other Assets Less Liabilities includes the Value of derivative instruments as noted in Investments in Derivatives at March 31, 2012. |
| ||||||||||||||||||||||
|
|
(4) |
|
For disclosure purposes, Notional Amount is calculated by multiplying the Number of Contracts by the Strike Price by 100. |
| ||||||||||||||||||||||
|
|
(5) |
|
The Fund may designate up to 100% of its Common Stock investments to cover outstanding Call Options Written. |
| ||||||||||||||||||||||
|
|
ADR |
|
American Depositary Receipt. |
| ||||||||||||||||||||||
Item 2. Controls and Procedures.
a. The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) 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 their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
b. There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) 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.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: EX-99 CERT 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) |
Nuveen Equity Premium Income Fund |
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By (Signature and Title) |
/s/ Kevin J. McCarthy |
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Kevin J. McCarthy |
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Vice President and Secretary |
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Date May 30, 2012
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 (Signature and Title) |
/s/ Gifford R. Zimmerman |
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Gifford R. Zimmerman |
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Chief Administrative Officer (principal executive officer) |
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Date May 30, 2012
By (Signature and Title) |
/s/ Stephen D. Foy |
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Stephen D. Foy |
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Vice President and Controller (principal financial officer) |
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Date May 30, 2012