N-Q 1 nq013105bcf.txt N-Q FILING 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 811-5357 Scudder Blue Chip Fund (Exact name of registrant as specified in charter) 222 South Riverside Plaza Chicago, IL 60606 (Address of principal executive offices) (Zip code) Salvatore Schiavone Two International Place Boston, Massachusetts 02110 (Name and address of agent for service) Registrant's telephone number, including area code: (617) 295-2663 -------------- Date of fiscal year end: 10/31 ----- Date of reporting period: 1/31/05 --------- Form N-Q is to be used by registered 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 270.30b1-4). 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
Scudder Blue Chip Fund Investment Portfolio as of January 31, 2005 (Unaudited) ------------------------------------------------------------------------------------------------------------------------ Shares Value ($) ---------------------------------------------------------- Common Stocks 96.7% Consumer Discretionary 12.5% Auto Components 1.2% American Axle & Manufacturing Holdings, Inc. 213,700 5,737,845 Autoliv, Inc. 46,400 2,187,760 ---------- 7,925,605 Automobiles 0.4% Ford Motor Co. 180,000 2,370,600 ---------- Hotels Restaurants & Leisure 0.7% McDonald's Corp. 146,900 4,758,091 ---------- Household Durables 0.6% Black & Decker Corp. 17,600 1,450,240 Ryland Group, Inc. 27,300 1,770,951 The Stanley Works 21,500 1,022,540 ---------- 4,243,731 Internet & Catalog Retail 0.4% eBay, Inc.* 33,600 2,738,400 ---------- Leisure Equipment & Products 0.1% Polaris Industries, Inc. 10,800 729,000 Media 3.4% Getty Images, Inc.* 1,500 104,550 McGraw-Hill Companies, Inc. 114,100 10,326,050 Walt Disney Co. 403,300 11,546,479 ---------- 21,977,079 Multiline Retail 1.5% Target Corp. 192,100 9,752,917 ---------- Specialty Retail 3.2% American Eagle Outfitters, Inc. 116,200 5,902,960 Barnes & Noble, Inc.* 48,000 1,569,600 Home Depot, Inc. 269,000 11,098,940 Michaels Stores, Inc. 52,300 1,608,225 PETCO Animal Supplies, Inc.* 25,600 972,032 ---------- 21,151,757 Textiles, Apparel & Luxury Goods 1.0% NIKE, Inc. "B" 54,900 4,755,987 V.F. Corp. 30,600 1,626,390 ---------- 6,382,377 Consumer Staples 8.8% Beverages 0.5% Adolph Coors Co. "B" (c) 30,200 2,252,920 Anheuser-Busch Companies, Inc. 15,300 752,454 ---------- 3,005,374 Food & Staples Retailing 1.3% 7-Eleven, Inc.* 43,200 1,030,320 BJ's Wholesale Club, Inc.* 13,700 391,957 Costco Wholesale Corp. 148,800 7,033,776 ---------- 8,456,053 Food Products 3.2% Kellogg Co. 29,700 1,325,808 Pilgrim's Pride Corp. 153,000 5,348,880 Tyson Foods, Inc. "A" 362,900 6,230,993 William Wrigley Jr. Co. 118,800 8,362,332 ---------- 21,268,013 Household Products 0.5% Procter & Gamble Co. 60,500 3,220,415 ---------- Personal Products 2.0% Gillette Co. 260,600 13,217,632 ---------- Tobacco 1.3% Altria Group, Inc. 30,800 1,965,964 Loews Corp. - Carolina Group 45,100 1,415,689 Reynolds American, Inc. 20,100 1,616,442 UST, Inc. 70,900 3,591,794 ---------- 8,589,889 Energy 8.2% Oil & Gas 8.2% Anadarko Petroleum Corp. 136,300 9,024,423 Apache Corp. 188,100 10,236,402 Chesapeake Energy Corp. 94,400 1,658,608 Devon Energy Corp. 199,000 8,093,330 El Paso Corp. 380,800 4,139,296 ExxonMobil Corp. 171,386 8,843,517 Noble Energy Inc 44,900 2,656,733 Valero Energy Corp. (c) 158,800 8,262,364 XTO Energy, Inc. 10,500 377,055 ---------- 53,291,728 Financials 18.1% Banks 6.5% Bank of America Corp. 429,200 19,902,004 Golden West Financial Corp. 43,500 2,810,970 Regions Financial Corp. 26,900 860,800 US Bancorp. 286,200 8,600,310 Wachovia Corp. 65,700 3,603,645 Wells Fargo & Co. 110,500 6,773,650 ---------- 42,551,379 Capital Markets 0.3% Bear Stearns Companies, Inc. 21,100 2,132,366 ---------- Consumer Finance 2.0% American Express Co. 206,700 11,027,445 Providian Financial Corp.* 136,200 2,271,816 ---------- 13,299,261 Diversified Financial Services 4.5% Citigroup, Inc. 120,366 5,903,952 Countrywide Financial Corp. 61,900 2,290,300 Freddie Mac 171,100 11,171,119 JPMorgan Chase & Co. 263,100 9,821,523 ---------- 29,186,894 Insurance 3.7% American International Group, Inc. 7,100 470,659 Assurant, Inc. 28,000 910,840 Chubb Corp. 76,900 5,727,512 Loews Corp. 26,400 1,795,200 MetLife, Inc. 123,200 4,897,200 Odyssey Re Holdings Corp. (c) 15,000 370,500 W.R. Berkley Corp. 202,575 9,662,828 ---------- 23,834,739 Real Estate 1.1% Apartment Investment & Management Co. "A", (REIT) 26,300 944,170 Avalonbay Communities, Inc. (REIT) 12,400 829,808 Boston Properties, Inc. (REIT) 14,800 855,144 Equity Office Properties Trust (REIT) 61,800 1,729,164 Equity Residential (REIT) 52,400 1,652,696 Hospitality Properties Trust (REIT) 20,100 857,265 Liberty Property Trust (REIT) 13,200 515,460 ---------- 7,383,707 Health Care 13.5% Biotechnology 2.1% Charles River Laboratories International, Inc.* 137,700 6,524,226 Genentech, Inc.* 95,900 4,575,389 Genzyme Corp.* 49,700 2,893,037 ---------- 13,992,652 Health Care Equipment & Supplies 2.9% Baxter International, Inc. 120,800 4,078,208 Becton, Dickinson & Co. 173,500 9,828,775 Dade Behring Holdings, Inc.* 30,200 1,725,930 Edwards Lifesciences Corp.* 38,400 1,562,880 Respironics, Inc.* 27,300 1,580,670 ---------- 18,776,463 Health Care Providers & Services 3.1% AmerisourceBergen Corp. 116,100 6,766,308 Covance, Inc.* 86,900 3,693,250 Coventry Health Care, Inc.* 69,600 3,960,240 Lincare Holdings, Inc.* 76,400 3,170,600 Quest Diagnostics, Inc. 13,700 1,305,610 UnitedHealth Group, Inc. 11,800 1,049,020 ---------- 19,945,028 Pharmaceuticals 5.4% Andrx Corp.* 152,300 3,326,232 Barr Laboratories, Inc.* 70,800 3,366,540 Johnson & Johnson 291,550 18,863,285 Merck & Co., Inc. 129,600 3,635,280 Pfizer, Inc. 260,100 6,284,016 ---------- 35,475,353 Industrials 11.6% Aerospace & Defense 3.7% Boeing Co. 72,700 3,678,620 General Dynamics Corp. 63,200 6,525,400 Lockheed Martin Corp. 131,800 7,619,358 Raytheon Co. 154,000 5,759,600 United Defense Industries, Inc.* 16,500 790,845 ---------- 24,373,823 Air Freight & Logistics 2.9% FedEx Corp. 112,900 10,798,885 Ryder System, Inc. 181,900 8,285,545 ---------- 19,084,430 Commercial Services & Supplies 1.7% Cendant Corp. 377,800 8,897,190 Corporate Executive Board Co. 26,700 1,706,130 Republic Services, Inc. 21,500 708,855 ---------- 11,312,175 Electrical Equipment 0.3% Rockwell Automation, Inc. 30,400 1,722,160 ---------- Industrial Conglomerates 1.7% General Electric Co. 314,900 11,377,337 ---------- Machinery 1.1% Cummins, Inc. 90,400 7,021,368 ---------- Trading Companies & Distributors 0.2% W.W. Grainger, Inc. 17,700 1,083,417 ---------- Information Technology 13.5% Communications Equipment 3.4% Cisco Systems, Inc.* 616,600 11,123,464 Motorola, Inc. 403,200 6,346,368 QUALCOMM, Inc. 123,700 4,606,588 ---------- 22,076,420 Computers & Peripherals 3.2% International Business Machines Corp. 155,900 14,564,178 Storage Technology Corp.* 72,900 2,295,621 Sun Microsystems, Inc.* 913,300 3,981,988 ---------- 20,841,787 Internet Software & Services 0.3% Ingram Micro, Inc. "A"* 50,600 935,088 Yahoo!, Inc.* 41,900 1,475,299 ---------- 2,410,387 IT Consulting & Services 2.2% Acxiom Corp. 138,300 3,191,964 Alliance Data Systems Corp.* 17,400 755,508 Computer Sciences Corp.* 119,900 6,177,248 Electronic Data Systems Corp. 6,100 130,662 Unisys Corp.* 504,000 3,956,400 ---------- 14,211,782 Semiconductors & Semiconductor Equipment 3.1% Cree, Inc.* (c) 45,400 1,090,962 Intel Corp. 573,200 12,868,340 MEMC Electronic Materials, Inc.* 146,600 1,803,180 Micron Technology, Inc.* 385,400 4,012,014 National Semiconductor Corp. 37,200 629,796 ---------- 20,404,292 Software 1.3% Microsoft Corp. 242,600 6,375,528 Symantec Corp.* 86,400 2,017,440 ---------- 8,392,968 Materials 4.3% Chemicals 1.3% Monsanto Co. 153,800 8,325,194 ---------- Containers & Packaging 0.1% Owens-Illinois, Inc.* 26,300 597,536 ---------- Metals & Mining 2.4% Nucor Corp. 41,600 2,336,256 Phelps Dodge Corp. 75,500 7,270,650 United States Steel Corp. (c) 116,400 6,029,520 ---------- 15,636,426 Paper & Forest Products 0.5% Louisiana-Pacific Corp. 138,900 3,555,840 ---------- Telecommunication Services 4.1% Diversified Telecommunication Services 2.8% Sprint Corp. 282,800 6,739,124 Verizon Communications, Inc. 319,500 11,371,005 ---------- 18,110,129 Wireless Telecommunication Services 1.3% Nextel Communications, Inc. "A"* 174,700 5,012,143 Nextel Partners, Inc. "A"* 197,600 3,930,264 ---------- 8,942,407 Utilities 2.1% Electric Utilities 1.7% American Electric Power Co. 33,900 1,194,975 Exelon Corp. 97,500 4,314,375 PG&E Corp.* 148,600 5,201,000 ---------- 10,710,350 Multi-Utilities 0.4% Duke Energy Corp. 106,200 2,845,098 ---------- Total Common Stocks (Cost $560,363,878) 632,691,829 ----------- Principal Amount ($) Value ($) ---------- --------- US Government Backed 0.2% US Treasury Bills, 2.356%**, 4/21/2005 (b) (Cost $1,379,969) 1,387,000 1,379,969 ---------- Shares Value ($) ------ --------- Securities Lending Collateral 2.3% Daily Assets Fund Institutional, 2.35% (d)(e) (Cost $15,396,418) 15,396,418 15,396,418 ---------- Cash Equivalents 3.4% Scudder Cash Management QP Trust, 2.30% (a) (Cost $21,977,230) 21,977,230 21,977,230 ---------- % of Net Assets Value ($) ---------- --------- Total Investment Portfolio (Cost $599,117,495) 102.6 671,445,446 Other Assets and Liabilities, Net -2.6 -16,958,683 ----------- Net Assets 100.0 654,486,763 ===========
For information on the Fund's policies regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual financial statements. * Non-income producing security. ** Annualized yield at time of purchase; not a coupon rate. (a) Scudder Cash Management QP Trust is managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end. (b) At January 31, 2005, this security has been pledged, in whole or in part, to cover initial margin requirements for open futures contracts. (c) All or a portion of these securities were on loan. The value of all securities loaned at January 31, 2005 amounted to $14,979,858, which is 2.3% of net assets. (d) Represents collateral held in connection with securities lending. (e) Daily Assets Fund Institutional, an affiliated fund, is managed by Deutsche Asset Management, Inc. The rate shown is the annualized seven-day yield at period end. REIT: Real Estate Investment Trust At January 31, 2005, open futures contracts sold were as follows:
Expiration Aggregate Unrealized Futures Date Contracts Face Value ($) Value($) Depreciation ($) -------------------------------------------------------------------------------------------------- S&P 500 Index 3/17/2005 76 22,600,352 22,452,300 (148,052) --------------------------------------------------------------------------------------------------
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: Scudder Blue Chip Fund By: /s/Julian Sluyters -------------------------------------------- Julian Sluyters Chief Executive Officer Date: March 11, 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. Registrant: Scudder Blue Chip Fund By: /s/Julian Sluyters -------------------------------------------- Julian Sluyters Chief Executive Officer Date: March 11, 2005 By: /s/Paul Schubert -------------------------------------------- Paul Schubert Chief Financial Officer Date: March 11, 2005