N-Q 1 nq0305.txt QUARTERLY PORTFOLIO REPORT 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 811-6027 KAVILCO INCORPORATED (Exact name of registrant as specified in charter) 600 UNIVERSITY STREET, SUITE 3010 SEATTLE, WASHINGTON 98101-1129 (Address of Principal executive offices) (Zip Code) Registrant's telephone number, including area code: (206) 624-6166 Date of fiscal year end: December 31 Date of reporting period: March 31, 2005 ITEM 1. SCHEDULE OF INVESTMENTS SCHEDULE OF INVESTMENTS For period ended March 31, 2005 (Unaudited) PRINCIPAL AMOUNT/SHARES VALUE U.S. GOVERNMENT SECURITIES - 14.9% U.S. Treasury Notes, 1.500% due March 31, 2006 1,000,000 980,937 Federal National Mortgage Association, 6.210% due November 7, 2007 1,000,000 1,049,906 Federal National Mortgage Association, 6.150% due December 10, 2007 1,000,000 1,049,518 U.S. Treasury Note, 4.250% due November 15, 2014 2,000,000 1,983,787 ----------- Total U.S. Government Securities (adjusted cost $4,978,762) 5,064,148 ----------- COMMERCIAL PAPER - 5.9% American Honda Finance, 2.600% due April 18, 2005 1,000,000 998,775 Walt Disney, 2.660%, due April 6, 2005 1,000,000 999,630 ----------- Total Commercial Paper 1,998,405 ----------- CORPORATE BONDS - 29.3% Banking - 3.1% J.P. Morgan Chase & Co., 7.875% due July 15, 2006 1,000,000 1,044,944 Beverage (soft drink) -2.5% Coca-Cola Enterprises, 8.500% due February 1, 2012 700,000 842,444 Diversified financial services - 3.3% General Electric Capital Corp., 8.500% due July 24, 2008 1,000,000 1,116,731 Electric utility - 0.6% Potomac Electric Power, 6.50% due March 15, 2008 190,000 200,198 Entertainment -0.9% Walt Disney Co., 5.800% due October 27, 2008 290,000 299,990 Finance - auto loans -2.4% General Motors Acceptance Corp., 6.625% due October 15, 2005 827,000 833,206 Food Processing - 0.7% Heinz Corp., 6.000% due March 15, 2008 229,000 238,314 Petroleum (integrated) - 2.9% Texaco Capital Inc., 5.700% due December 1, 2008 975,000 982,553 Retail store -3.6% Dayton Hudson, 8.600% due January 15, 2012 100,000 120,894 Wal-Mart Stores, 6.875% due August 10, 2009 1,000,000 1,089,404 Securities brokerage - 6.4% Bear Stearns Co. Inc., 7.625% due December 7, 2009 1,000,000 1,118,469 Merrill Lynch & Co., 6.375% due October 15, 2008 1,000,000 1,056,094 Telecommunication services - 3.1% Pacific Bell, 6.125% due February 15, 2008 1,000,000 1,040,896 Total Corporate Bonds ----------- (adjusted cost $9,271,764) 9,984,137 ----------- COMMON STOCK - 0.4% Computer Software & Services - 0.3% Microsoft Corp. 3,640 87,979 Gold/Silver Mining - 0.1% Barrick Gold 1,200 28,752 Coeur d' Alene Mines Corp 3,000 11,010 Freeport-McMoRan Copper & Gold Inc 600 23,766 Newmont Mining 500 21,125 ----------- Total Common Stock (adjusted cost $133,715) 172,632 ----------- SHORT-TERM INVESTMENTS - 14.6% U.S. Treasury Bills U.S. Treasury Bill, 2.510%, due May 5, 2005 5,000,000 4,987,500 ----------- Total U.S. Treasury Bills (cost $4,988,361) 4,987,500 ----------- CASH & EQUIVALENTS - 34.9% Money Market 11,884,223 ----------- 11,884,223 ----------- Total investments in securities (identified cost $33,255,230) TOTAL PORTFOLIO VALUE $34,091,045 ===========
ITEM 2. CONTROLS AND PROCEDURES (a) The registrant's President/Chief Executive Officer and Chief Financial Officer 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) are effective at the reasonable assurance level based on their evaluation of these disclosure controls and procedures as of a date within 90 days of the filing date of this document. (b) There were no significant changes in the registrant's internal control over financial reporting that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses. ITEM 3. - EXHIBITS The following exhibits are attached to this Form N-Q: (a) Certification of President/Chief Executive Officer (b) Certification of Chief Financial Officer SIGNATURES 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 Kavilco Incorporated and in the capacities and on the dates indicated. By /s/Louis A. Thompson Louis A. Thompson Chief Executive Officer May 13, 2005 By /s/Scott Burns Scott Burns Chief Financial Officer May 13, 2005