UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-02201
Rivus Bond Fund (Formerly 1838 Bond - Debenture Trading Fund)
(Exact name of registrant as specified in charter)
113 King Street
Armonk, NY 10504
(Address of principal executive offices) (Zip code)
Clifford D. Corso
113 King Street
Armonk, NY 10504
(Name and address of agent for service)
Registrant’s telephone number, including area code: 914-273-4545
Date of fiscal year end: March 31
Date of reporting period: June 30, 2006
Item 1. Schedule of Investments.
The Schedule(s) of Investments is attached herewith.
SCHEDULE OF INVESTMENTS
June 30, 2006
|
|
Moody’s/ |
|
Principal |
|
Amortized
Cost |
|
Value |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
LONG TERM DEBT SECURITIES (97.14%) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AUTOMOTIVE (7.66%) |
|
|
|
|
|
|
|
|
|
|
|
|
Auburn Hills Trust, Gtd. Ctfs., 12.375%, 05/01/20 |
|
A3/BBB |
|
$ |
1,000 |
|
$ |
1,000,000 |
|
$ |
1,411,493 |
|
Ford Holdings, LLC, Gtd., 9.30%, 03/01/30 |
|
Ba3/B+ |
|
|
1,000 |
|
|
1,107,152 |
|
|
845,000 |
|
Ford Motor Co., Debs., 8.90%, 01/15/32 |
|
Ba3/B+ |
|
|
1,560 |
|
|
1,544,670 |
|
|
1,244,100 |
|
Ford Motor Credit Co., 7.00%, 10/01/13 |
|
Ba2/B+ |
|
|
2,000 |
|
|
2,049,952 |
|
|
1,721,276 |
|
General Motors Acceptance Corp., Notes, 6.125%, 09/15/06 |
|
Ba1/BB |
|
|
1,000 |
|
|
999,339 |
|
|
998,523 |
|
General Motors Acceptance Corp., Notes, 7.25%, 03/02/11 |
|
Ba1/BB |
|
|
1,000 |
|
|
1,006,010 |
|
|
969,508 |
|
Meritor Automotive, Notes, 6.80%, 02/15/09 |
|
Ba3/BB- |
|
|
87 |
|
|
88,518 |
|
|
84,173 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,795,641 |
|
|
7,274,073 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CHEMICALS (0.52%) |
|
|
|
|
|
|
|
|
|
|
|
|
IMC Global, Inc., Debs., 6.875%, 07/15/07 |
|
B1/B+ |
|
|
500 |
|
|
510,285 |
|
|
498,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COMMERCIAL SERVICES (0.84%) |
|
|
|
|
|
|
|
|
|
|
|
|
Avis Budget Car Rental LLC, Sr. Notes, 7.576%, 05/15/14, 144A (b) |
|
Ba3/BB- |
|
|
250 |
|
|
250,000 |
|
|
249,375 |
|
Cendant Corp., Sr. Notes, 7.375%, 01/15/13 |
|
Baa1/BBB+ |
|
|
500 |
|
|
553,765 |
|
|
547,060 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
803,765 |
|
|
796,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONSUMER PRODUCTS (0.79%) |
|
|
|
|
|
|
|
|
|
|
|
|
Newell Rubbermaid, Inc., 6.00%, 03/15/07 |
|
Baa2/BBB+ |
|
|
750 |
|
|
754,680 |
|
|
750,323 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICES (17.43%) |
|
|
|
|
|
|
|
|
|
|
|
|
Bank of America Corp., Sub. Notes, 7.40%, 01/15/11 |
|
Aa3/A+ |
|
|
1,000 |
|
|
1,039,508 |
|
|
1,064,017 |
|
CIT Group, Inc., Sr. Notes, 7.375%, 04/02/07 |
|
A2/A |
|
|
1,800 |
|
|
1,832,955 |
|
|
1,822,421 |
|
Citicorp Capital II, Gtd., 8.015%, 02/15/27 |
|
Aa2/A |
|
|
2,000 |
|
|
2,010,921 |
|
|
2,100,710 |
|
Credit Suisse FB USA, Inc., Notes, 4.875%, 08/15/10 |
|
Aa3/AA- |
|
|
500 |
|
|
499,968 |
|
|
484,625 |
|
General Electric Capital Corp., Notes, 6.125%, 02/22/11 |
|
Aaa/AAA |
|
|
1,000 |
|
|
1,058,905 |
|
|
1,018,794 |
|
General Electric Capital Corp., 6.00%, 06/15/12 |
|
Aaa/AAA |
|
|
1,725 |
|
|
1,766,812 |
|
|
1,744,815 |
|
Household Finance Corp., Notes, 6.75%, 05/15/11 |
|
Aa3/AA- |
|
|
1,500 |
|
|
1,500,056 |
|
|
1,556,015 |
|
HSBC America Capital Trust II, Gtd., 8.38%, 05/15/27, 144A |
|
NR/A |
|
|
2,500 |
|
|
2,564,458 |
|
|
2,647,620 |
|
Landesbank Baden-Wurtt NY, Sub. Notes, 6.35%, 04/01/12 |
|
Aaa/AA+ |
|
|
500 |
|
|
499,165 |
|
|
525,282 |
|
Residential Capital Corp., 6.375%, 06/30/10 |
|
Baa3/BBB- |
|
|
1,000 |
|
|
997,598 |
|
|
986,391 |
|
Sanwa Bank Ltd., Sub. Notes, 7.40%, 06/15/11 |
|
A2/A- |
|
|
500 |
|
|
490,234 |
|
|
530,632 |
|
UBS PFD Funding Trust I, Gtd., 8.622%, 10/10/49 (b) |
|
A1/AA- |
|
|
1,000 |
|
|
1,007,682 |
|
|
1,093,919 |
|
Wachovia Capital Trust III, Bank Gtd., 5.80%, 03/15/42 (b) |
|
A2/A- |
|
|
1,000 |
|
|
1,000,000 |
|
|
970,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,268,262 |
|
|
16,545,643 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ENERGY (6.75%) |
|
|
|
|
|
|
|
|
|
|
|
|
Apache Corp., Notes, 7.70%, 03/15/26 |
|
A3/A- |
|
|
500 |
|
|
522,311 |
|
|
581,405 |
|
ChevronTexaco, Debs., 7.50%, 03/01/43 |
|
Aa2/AA |
|
|
2,000 |
|
|
1,979,072 |
|
|
2,163,584 |
|
Transocean, Inc., Notes, 7.50%, 04/15/31 |
|
Baa1/A- |
|
|
500 |
|
|
497,920 |
|
|
556,434 |
|
Western Atlas, Inc., Debs., 8.55%, 06/15/24 |
|
A2/A |
|
|
2,539 |
|
|
2,635,191 |
|
|
3,100,820 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,634,494 |
|
|
6,402,243 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAMING, LODGING & LEISURE (4.79%) |
|
|
|
|
|
|
|
|
|
|
|
|
Caesars Entertainment, Sr. Notes, 7.50%, 09/01/09 |
|
Baa3/BBB- |
|
|
1,000 |
|
|
1,055,422 |
|
|
1,038,219 |
|
MGM Mirage, Inc., Co. Gty, 6.00%, 10/01/09 |
|
Ba2/BB |
|
|
1,000 |
|
|
994,365 |
|
|
972,500 |
|
Mohegan Tribal Gaming Authority, Sr. Notes, 6.375%, 07/15/09 |
|
Ba3/B+ |
|
|
500 |
|
|
511,800 |
|
|
486,875 |
|
Royal Caribbean Cruises Ltd., Sr. Notes, 6.75%, 03/15/08 |
|
Ba1/BBB- |
|
|
1,000 |
|
|
958,398 |
|
|
1,004,086 |
|
Starwood Hotels & Resorts Worldwide, Inc., Gtd., 7.875%, 05/01/12 |
|
Ba1/BB+ |
|
|
1,000 |
|
|
996,893 |
|
|
1,043,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,516,878 |
|
|
4,545,430 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HOME BUILDERS (1.00%) |
|
|
|
|
|
|
|
|
|
|
|
|
Centex Corp., Notes, 5.45%, 08/15/12 |
|
Baa2/BBB |
|
|
1,000 |
|
|
995,397 |
|
|
947,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIAL (1.33%) |
|
|
|
|
|
|
|
|
|
|
|
|
Case New Holland, Inc., Sr. Notes, 6.00%, 06/01/09 |
|
Ba3/BB- |
|
|
500 |
|
|
498,286 |
|
|
486,250 |
|
Tyco International Group SA, Co. Gty, 6.75%, 02/15/11 |
|
Baa3/BBB+ |
|
|
750 |
|
|
781,921 |
|
|
773,812 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,280,207 |
|
|
1,260,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INSURANCE (4.47%) |
|
|
|
|
|
|
|
|
|
|
|
|
AIG Sunamerica Global Finance VI, 6.30%, 05/10/11, 144A |
|
Aa2/AA+ |
|
|
1,000 |
|
|
1,078,714 |
|
|
1,021,820 |
|
Berkshire Hathaway Finance Corp., 5.10%, 07/15/14 |
|
Aaa/AAA |
|
|
1,000 |
|
|
1,001,703 |
|
|
952,465 |
|
Penn Central Corp., Sub. Notes, 10.875%, 05/01/11 (c) |
|
WR/NR |
|
|
1,500 |
|
|
1,557,509 |
|
|
1,759,350 |
|
XL Capital Europe PLC, Gtd., 6.50%, 01/15/12 |
|
A3/A- |
|
|
500 |
|
|
498,337 |
|
|
507,423 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,136,263 |
|
|
4,241,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MEDIA (14.54%) |
|
|
|
|
|
|
|
|
|
|
|
|
Clear Channel Communication, Co. Gty, 8.00%, 11/01/08 |
|
Baa3/BBB- |
|
|
1,000 |
|
|
1,051,091 |
|
|
1,039,700 |
|
Comcast Corp., Gtd., 7.05%, 03/15/33 |
|
Baa2/BBB+ |
|
|
2,000 |
|
|
2,189,357 |
|
|
2,028,972 |
|
CSC Holdings, Inc., Sr. Notes, 7.25%, 07/15/08 |
|
B2/B+ |
|
|
500 |
|
|
520,490 |
|
|
500,625 |
|
Dex Media West LLC, Sr. Notes, 8.50%, 08/15/10 |
|
B1/B |
|
|
500 |
|
|
531,223 |
|
|
518,750 |
|
Echostar DBS Corp., Sr. Notes, 5.75%, 10/01/08 |
|
Ba3/BB- |
|
|
500 |
|
|
497,958 |
|
|
488,750 |
|
Harcourt General, Inc., Sr. Debs., 8.875%, 06/01/22 |
|
WR/A- |
|
|
2,000 |
|
|
2,129,770 |
|
|
2,447,912 |
|
News America Holdings, Inc., Gtd., 7.90%, 12/01/95 |
|
Baa2/BBB |
|
|
1,400 |
|
|
1,298,991 |
|
|
1,447,424 |
|
Quebecor World Capital Corp., Gtd., 6.125%, 11/15/13 |
|
Ba3/BB- |
|
|
1,000 |
|
|
1,006,209 |
|
|
817,500 |
|
Time Warner, Inc., Debs., 9.15%, 02/01/23 |
|
Baa2/BBB+ |
|
|
3,000 |
|
|
3,134,971 |
|
|
3,557,619 |
|
Viacom, Inc., Sr. Notes, 5.75%, 04/30/11, 144A |
|
Baa3/BBB |
|
|
700 |
|
|
695,958 |
|
|
687,553 |
|
Viacom, Inc., Sr. Debs., 7.875%, 07/30/30 |
|
Baa3/BBB |
|
|
250 |
|
|
246,444 |
|
|
262,365 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,302,462 |
|
|
13,797,170 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PAPER (4.42%) |
|
|
|
|
|
|
|
|
|
|
|
|
Abitibi-Consolidated, Inc., Debs., 8.85%, 08/01/30 |
|
B1/B+ |
|
|
1,500 |
|
|
1,500,012 |
|
|
1,267,500 |
|
Smurfit Capital Funding PLC, Debs., 7.50%, 11/20/25 |
|
B1/B+ |
|
|
2,000 |
|
|
1,992,382 |
|
|
1,820,000 |
|
Union Camp Corp., Debs., 9.25%, 02/01/11 |
|
Baa3/BBB |
|
|
1,000 |
|
|
996,455 |
|
|
1,111,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,488,849 |
|
|
4,199,218 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PHARMACEUTICALS (1.61%) |
|
|
|
|
|
|
|
|
|
|
|
|
Bristol-Myer Squibb, 5.75%, 10/01/11 |
|
A1/A+ |
|
|
1,000 |
|
|
1,029,979 |
|
|
997,335 |
|
Monsanto Co. (Pharmacia Corp), 6.50%, 12/01/18 |
|
Aaa/AAA |
|
|
500 |
|
|
576,062 |
|
|
527,893 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,606,041 |
|
|
1,525,228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE INVESTMENT TRUST (5.36%) |
|
|
|
|
|
|
|
|
|
|
|
|
CarrAmerica Realty Corp., 5.50%, 12/15/10 |
|
Baa2/BBB |
|
|
500 |
|
|
499,785 |
|
|
503,611 |
|
EOP Operating LP, Sr. Notes, 7.25%, 02/15/18 |
|
Baa2/BBB |
|
|
1,000 |
|
|
994,157 |
|
|
1,070,858 |
|
Host Marriott LP, Sr. Notes, 7.00%, 08/15/12 |
|
Ba2/BB |
|
|
500 |
|
|
523,575 |
|
|
495,625 |
|
i Star Financial, Inc., 6.00%, 12/15/10 |
|
Baa2/BBB |
|
|
1,000 |
|
|
1,016,764 |
|
|
996,351 |
|
Liberty Property LP, Sr. Notes, 7.50%, 01/15/18 |
|
Baa2/BBB |
|
|
1,000 |
|
|
999,397 |
|
|
1,060,377 |
|
Nationwide Health Properties, Inc., Notes, 6.00%, 05/20/15 |
|
Baa3/BBB- |
|
|
500 |
|
|
499,520 |
|
|
478,433 |
|
Prologis, Sr. Notes, 5.50%, 04/01/12 |
|
Baa1/BBB+ |
|
|
500 |
|
|
497,351 |
|
|
486,764 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,030,549 |
|
|
5,092,019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RETAIL & RESTAURANT (0.54%) |
|
|
|
|
|
|
|
|
|
|
|
|
Darden Restaurants, Inc., Debs., 7.125%, 02/01/16 |
|
Baa1/BBB+ |
|
|
500 |
|
|
445,415 |
|
|
516,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATIONS (9.63%) |
|
|
|
|
|
|
|
|
|
|
|
|
Deutsche Telekom International Finance BV, Gtd., 8.25%, 06/15/30 |
|
A3/A- |
|
|
2,000 |
|
|
2,486,380 |
|
|
2,309,100 |
|
France Telecom SA, Notes, 7.75%, 03/01/11 (d) |
|
A3/A- |
|
|
750 |
|
|
817,757 |
|
|
805,654 |
|
GTE Corp., Debs., 6.94%, 04/15/28 |
|
Baa1/A |
|
|
2,000 |
|
|
2,106,371 |
|
|
1,953,896 |
|
SBC Communications, Inc., Notes, 5.875%, 08/15/12 |
|
A2/A |
|
|
500 |
|
|
494,840 |
|
|
494,547 |
|
Sprint Capital Corp., Co. Gty, 6.90%, 05/01/19 |
|
Baa2/A- |
|
|
1,750 |
|
|
1,760,325 |
|
|
1,797,922 |
|
Verizon Global Funding Corp., Notes, 7.75%, 12/01/30 |
|
A3/A |
|
|
1,646 |
|
|
1,674,726 |
|
|
1,775,290 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,340,399 |
|
|
9,136,409 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UTILITIES (5.31%) |
|
|
|
|
|
|
|
|
|
|
|
|
Dominion Resources, Inc., Sr. Notes, 6.75%, 12/15/32 |
|
Baa2/BBB |
|
|
1,000 |
|
|
997,747 |
|
|
993,965 |
|
Hydro-Quebec, Gtd. Debs., 8.25%, 04/15/26 |
|
Aa3/A+ |
|
|
1,550 |
|
|
1,486,750 |
|
|
1,976,121 |
|
Midamerican Funding LLC, 6.927%, 03/01/29 |
|
A3/BBB+ |
|
|
500 |
|
|
500,000 |
|
|
529,991 |
|
NSTAR, Notes, 8.00%, 02/15/10 |
|
A2/A |
|
|
500 |
|
|
499,141 |
|
|
534,301 |
|
Ohio Power Co., Sr. Notes, 6.00%, 06/01/16 |
|
A3/BBB |
|
|
500 |
|
|
499,752 |
|
|
493,045 |
|
Old Dominion Electric Coop., 6.25%, 06/01/11 |
|
Aaa/AAA |
|
|
500 |
|
|
500,378 |
|
|
511,371 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,483,768 |
|
|
5,038,794 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MORTGAGE BACKED SECURITIES (7.91%) |
|
|
|
|
|
|
|
|
|
|
|
|
FHLMC Pool # B11892, 4.50%, 01/01/19 |
|
Aaa/AAA |
|
|
1,797 |
|
|
1,810,706 |
|
|
1,699,562 |
|
FHLMC Pool # A15675, 6.00%, 11/01/33 |
|
Aaa/AAA |
|
|
1,235 |
|
|
1,267,876 |
|
|
1,219,920 |
|
FNMA Pool # 763852, 5.50%, 02/01/34 |
|
Aaa/AAA |
|
|
2,748 |
|
|
2,799,805 |
|
|
2,646,016 |
|
FNMA Pool # 754791, 6.50%, 12/01/33 |
|
Aaa/AAA |
|
|
1,815 |
|
|
1,870,648 |
|
|
1,828,971 |
|
GNSF Pool # 417239, 7.00%, 02/15/26 |
|
Aaa/AAA |
|
|
75 |
|
|
75,577 |
|
|
77,218 |
|
GNSF Pool # 780374, 7.50%, 12/15/23 |
|
Aaa/AAA |
|
|
34 |
|
|
34,247 |
|
|
36,009 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,858,859 |
|
|
7,507,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. GOVERNMENT AGENCY (2.24%) |
|
|
|
|
|
|
|
|
|
|
|
|
FNMA, Notes, 7.125%, 03/15/07 |
|
Aaa/AAA |
|
|
2,100 |
|
|
2,135,842 |
|
|
2,122,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LONG TERM DEBT SECURITIES |
|
|
|
|
|
|
|
91,388,056 |
|
|
92,196,649 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENT COMPANIES (1.20%) |
|
|
|
|
Shares |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
High Yield Plus Fund |
|
|
|
|
33 |
|
|
223,875 |
|
|
106,332 |
|
PNC Bank Money Market Account |
|
|
|
|
1,034 |
|
|
1,034,092 |
|
|
1,034,092 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,257,967 |
|
|
1,140,424 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS (98.34%) |
|
|
|
|
|
|
$ |
92,646,023 |
* |
|
93,337,073 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
OTHER ASSETS AND LIABILITIES (1.66%) |
|
|
|
|
|
|
|
|
|
|
1,573,339 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS (100.00%) |
|
|
|
|
|
|
|
|
|
$ |
94,910,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Ratings for debt securities are unaudited. All ratings are as of June 30, 2006 and may have changed subsequently. |
(b) |
Variable rate security. Rate disclosed is as of June 30, 2006. |
(c) |
Security was valued using fair value procedures as of June 30, 2006. |
(d) |
Multi-Step Coupon. Rate disclosed is as of June 30, 2006. |
144A - |
Securities were purchased pursuant to Rule 144A under the securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. At the end of the period, these securities amounted to 4.85% of net assets. |
* |
Aggregate cost for Federal income tax purposes is $92,646,023 |
Gross unrealized appreciation |
|
$ |
3,829,400 |
|
|
|
|
|
|
|
|
|
|
Gross unrealized depreciation |
|
|
(3,138,350 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized appreciation |
|
$ |
691,050 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legend |
Co. Gty - Company Guaranty |
Ctfs. - Certificates |
Debs. - Debentures |
GNSF - Government National Mortgage Association |
Gtd. - Guranteed |
FHLMC - Federal Home Loan Mortgage Corp. |
FNMA - Federal National Mortgage Association (Single Family) |
NR - Not Rated |
Sr. - Senior |
Sub.- Subordinated |
WR - Withdrawn Rating |
Security Valuation – In valuing the Fund’s net assets, all securities for which representative market quotations are available will be valued at the last quoted sales price on the security’s principal exchange on the day of valuation. If there are no sales of the relevant security on such day, the security will be valued at the bid price at the time of computation. Prices for securities traded in the over-the-counter market, including listed debt and preferred securities, whose primary market is believed to be over-the-counter, normally are supplied by independent pricing services. Securities for which market quotations are not readily available will be valued at their respective fair values as determined in good faith by, or under procedures established by the Board of Directors. At June 30, 2006, Penn Central Corp. was valued using fair value procedures and represented 1.85% of net assets.
For more information with regards to significant accounting policies, see the mose recent annual report filed with the Securities and Exchange Commission.
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 the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (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.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are 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) |
Rivus Bond Fund (Formerly 1838 Bond - Debenture Trading Fund) |
|
|
By (Signature and Title)* |
/s/ Clifford D. Corso |
|
|
|
Clifford D. Corso, President |
Date |
August 21, 2006 |
|
|
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/ Clifford D. Corso |
|
|
|
Clifford D. Corso, President, |
Date |
August 21, 2006 |
|
|
By (Signature and Title)* |
/s/ Marc D. Morris |
|
|
|
Marc D. Morris, Treasurer, |
Date |
August 21, 2006 |
|
|
* Print the name and title of each signing officer under his or her signature.