N-Q 1 rq170_15567nq.txt RQ170_15567NQ.TXT 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 811-03391 CENTENNIAL GOVERNMENT TRUST (Exact name of registrant as specified in charter) 6803 SOUTH TUCSON WAY, CENTENNIAL, COLORADO 80112-3924 (Address of principal executive offices) (Zip code) ROBERT G. ZACK, ESQ. OPPENHEIMERFUNDS, INC. TWO WORLD FINANCIAL CENTER, NEW YORK, NEW YORK 10281-1008 (Name and address of agent for service) Registrant's telephone number, including area code: (303) 768-3200 Date of fiscal year end: JUNE 30 Date of reporting period: MARCH 31, 2005 ITEM 1. SCHEDULE OF INVESTMENTS. Centennial Government Trust STATEMENT OF INVESTMENTS March 31, 2005/Unaudited --------------------------------------------------------------------------------
PRINCIPAL AMOUNT VALUE ----------------------------------------------------------------------------------------------------------- U.S. GOVERNMENT AGENCIES--81.0% ----------------------------------------------------------------------------------------------------------- Federal Farm Credit Bank, 2.75%, 10/20/05 1 $ 25,000,000 $ 24,995,530 ----------------------------------------------------------------------------------------------------------- Federal Home Loan Bank: 1.40%, 4/1/05-4/15/05 34,000,000 33,991,253 1.55%, 5/4/05 25,000,000 24,975,409 2.08%, 4/15/05 25,080,000 25,075,132 2.52%, 4/8/05 50,000,000 49,975,500 2.57%, 4/28/05 50,000,000 49,903,625 2.60%, 5/4/05-5/6/05 50,000,000 49,875,158 2.72%, 9/16/05 1 47,725,000 47,718,373 2.74%, 5/11/05 19,925,000 19,864,339 2.745%, 5/13/05 20,913,000 20,846,026 2.76%, 7/26/05 1 50,000,000 49,996,632 2.80%, 5/18/05 68,500,000 68,249,594 2.84%, 6/10/05 25,000,000 24,861,944 4.125%, 5/13/05 10,000,000 10,014,640 ----------------------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp.: 2.52%, 4/12/05 50,000,000 49,961,500 2.561%, 4/19/05 25,000,000 24,967,988 2.615%, 4/25/05 50,000,000 49,912,833 2.63%, 5/5/05 17,696,000 17,652,045 2.635%, 5/10/05 100,000,000 99,714,542 2.66%, 5/17/05 75,000,000 74,745,083 2.745%, 5/4/05 10,050,000 10,024,712 2.795%, 5/27/05 29,975,000 29,842,441 2.80%, 5/31/05 83,563,000 83,173,039 2.96%, 6/28/05 50,000,000 49,638,222 ----------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn.: 1.60%, 5/13/05 7,500,000 7,500,000 2.695%, 4/15/05 1 25,000,000 24,999,560 ----------------------------------------------------------------------------------------------------------- Overseas Private Investment Corp.: 3.003%, 7/20/05 1,2 1,000,000 1,001,084 3.028%, 7/20/05 1,2 2,392,407 2,408,768 ----------------------------------------------------------------------------------------------------------- Total U.S. Government Agencies (Cost $1,025,884,972) 1,025,884,972 ----------------------------------------------------------------------------------------------------------- REPURCHASE AGREEMENTS--18.8% 3 ----------------------------------------------------------------------------------------------------------- Repurchase agreement (Principal Amount/Value $100,000,000 with a maturity value of $100,007,972) with Bear Stearns & Co., Inc., 2.87%, dated 3/31/05, to be repurchased at $100,007,972 on 4/1/05, collateralized by Federal National Mortgage Assn., 5.50%, 1/1/35, with a value of $103,545,837 100,000,000 100,000,000 ----------------------------------------------------------------------------------------------------------- Repurchase agreement (Principal Amount/Value $138,250,000, with a maturity value of $138,260,561) with UBS Warburg LLC, 2.75%, dated 3/31/05, to be repurchased at $138,260,561 on 4/1/05, collateralized by Federal National Mortgage Assn., 4.50%, 5/1/19, with a value of $141,360,257 138,250,000 138,250,000 ---------------- Total Repurchase Agreements (Cost $238,250,000) 238,250,000
1 | CENTENNIAL GOVERNMENT TRUST Centennial Government Trust STATEMENT OF INVESTMENTS March 31, 2005/Unaudited --------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------- TOTAL INVESTMENTS, AT VALUE (COST $1,264,134,972) 99.8% 1,264,134,972 ----------------------------------------------------------------------------------------------------------- OTHER ASSETS NET OF LIABILITIES 0.2 2,172,113 -------------------------------------- NET ASSETS 100.0% $ 1,266,307,085 ======================================
FOOTNOTES TO STATEMENT OF INVESTMENTS 1. Represents the current interest rate for a variable or increasing rate security. 2. Illiquid security. The aggregate value of illiquid securities as of March 31, 2005 was $3,409,852, which represents 0.27% of the Trust's net assets. See accompanying Notes to Quarterly Statement of Investments. 3. The Trust may have elements of risk due to concentrated investments. Such concentrations may subject the Trust to additional risks. NOTES TO QUARTERLY STATEMENT OF INVESTMENTS SECURITIES VALUATION. The net asset value of shares of the Trust is normally determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern time on each day The New York Stock Exchange (the Exchange) is open for trading. Portfolio securities are valued on the basis of amortized cost, which approximates market value. REPURCHASE AGREEMENTS. The Trust requires its custodian bank to take possession, to have legally segregated in the Federal Reserve Book Entry System or to have segregated within the custodian's vault, all securities held as collateral for repurchase agreements. The market value of the underlying securities is required to be at least 102% of the resale price at the time of purchase. If the seller of the agreement defaults and the value of the collateral declines, or if the seller enters an insolvency proceeding, realization of the value of the collateral by the Trust may be delayed or limited. ILLIQUID SECURITIES. As of March 31, 2005, investments in securities included issues that are illiquid. A security may be considered illiquid if it lacks a readily available market or if its valuation has not changed for a certain period of time. The Trust will not invest more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid securities. 2 | CENTENNIAL GOVERNMENT TRUST ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of March 31, 2005, registrant's principal executive officer and principal financial officer found registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. (a) Exhibits attached hereto. (Attach certifications as exhibits) 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. Centennial Government Trust By: /s/ John V. Murphy ---------------------------- John V. Murphy Principal Executive Officer Date: May 13, 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. By: /s/ John V. Murphy ---------------------------- John V. Murphy Principal Executive Officer Date: May 13, 2005 By: /s/ Brian W. Wixted ---------------------------- Brian W. Wixted Chief Financial Officer Date: May 13, 2005