-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, K3rAK6DDg9PcWfDsDdmOaSkxj/FAUyB7sebRXLmT+ZVSuXw0bhTjVQnogpsigK73 nGvXORkUhMDYV1+ykB2GJg== 0001193805-05-002121.txt : 20051024 0001193805-05-002121.hdr.sgml : 20051024 20051024135517 ACCESSION NUMBER: 0001193805-05-002121 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050831 FILED AS OF DATE: 20051024 DATE AS OF CHANGE: 20051024 EFFECTIVENESS DATE: 20051024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MERRILL LYNCH UTILITIES & TELECOMMUNICATIONS FUND INC CENTRAL INDEX KEY: 0000868452 IRS NUMBER: 223072498 STATE OF INCORPORATION: MA FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06180 FILM NUMBER: 051151576 BUSINESS ADDRESS: STREET 1: P O BOX 9011 CITY: PRINCETON STATE: NJ ZIP: 08543-9011 BUSINESS PHONE: 6092823319 MAIL ADDRESS: STREET 1: P O BOX 9066 CITY: PRINCETON STATE: NJ ZIP: 08543-9011 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH UTILITIES & COMMUNICATIONS FUND INC DATE OF NAME CHANGE: 20020307 FORMER COMPANY: FORMER CONFORMED NAME: MERRILL LYNCH GLOBAL UTILITY FUND INC DATE OF NAME CHANGE: 19920703 N-Q 1 e501062_nq-mlutilandtelecom.txt QUARTERLY SCHEDULE 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 811-6180 Name of Fund: Merrill Lynch Utilities and Telecommunications Fund, Inc. Fund Address: P.O. Box 9011 Princeton, NJ 08543-9011 Name and address of agent for service: Robert C. Doll, Chief Executive Officer, Merrill Lynch Utilities and Telecommunications Fund, Inc., 800 Scudders Mill Road, Plainsboro, NJ 08536. Mailing address: P.O. Box 9011, Princeton, NJ 08543-9011 Registrant's telephone number, including area code: (609) 282-2800 Date of fiscal year end: 11/30/05 Date of reporting period: 06/01/05 - 08/31/05 Item 1 - Schedule of Investments Merrill Lynch Utilities and Telecommunications Fund, Inc. Schedule of Investments as of August 31, 2005 (in U.S. dollars)
Shares Country Industry Held Common Stocks Value - ------------------------------------------------------------------------------------------------------------------------------------ Brazil - 2.0% Diversified Telecommunication Services - 0.4% 18,000 Brasil Telecom Participacoes SA (b) $ 656,100 -------------------------------------------------------------------------------------------------------------------- Electric Utilities - 1.6% 50,700 CPFL Energia SA (b) 1,499,706 88,400 EDP - Energias do Brasil SA (a) 923,052 ------------ 2,422,758 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in Brazil 3,078,858 - ------------------------------------------------------------------------------------------------------------------------------------ Canada - 8.3% Diversified Telecommunication Services - 5.2% 156,900 BCE, Inc. 4,110,780 50,500 Telus Corp. 1,912,718 56,224 Telus Corp. (Non-Voting Shares) 2,070,364 ------------ 8,093,862 -------------------------------------------------------------------------------------------------------------------- Media - 0.6% 23,300 Rogers Communications, Inc. Class B 865,129 -------------------------------------------------------------------------------------------------------------------- Oil, Gas & Consumable Fuels - 2.5% 35,800 EnCana Corp. 1,753,992 45,500 Talisman Energy, Inc. 2,228,135 ------------ 3,982,127 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in Canada 12,941,118 - ------------------------------------------------------------------------------------------------------------------------------------ France - 1.6% Diversified Telecommunication Services - 0.5% 24,700 France Telecom SA 744,450 -------------------------------------------------------------------------------------------------------------------- Gas Utilities - 0.2% 10,200 Gaz de France 339,954 -------------------------------------------------------------------------------------------------------------------- Multi-Utilities - 0.9% 31,000 Suez SA 904,345 14,200 Veolia Environnement SA 579,981 ------------ 1,484,326 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in France 2,568,730 - ------------------------------------------------------------------------------------------------------------------------------------ Germany - 2.8% Diversified Telecommunication Services - 0.6% 46,300 Deutsche Telekom AG 881,284 -------------------------------------------------------------------------------------------------------------------- Electric Utilities - 1.8% 29,700 E.ON AG 2,833,406 -------------------------------------------------------------------------------------------------------------------- Multi-Utilities - 0.4% 9,000 RWE AG 602,693 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in Germany 4,317,383 - ------------------------------------------------------------------------------------------------------------------------------------ Italy - 1.5% Diversified Telecommunication Services - 1.2% 171,776 Telecom Italia SpA 541,437 494,800 Telecom Italia SpA (RNC) 1,299,889 ------------ 1,841,326 -------------------------------------------------------------------------------------------------------------------- Gas Utilities - 0.3% 100,700 Snam Rete Gas SpA 555,648 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in Italy 2,396,974 - ------------------------------------------------------------------------------------------------------------------------------------ Mexico - 1.1% Diversified Telecommunication Services - 0.4% 32,600 Telefonos de Mexico SA de CV (b) 625,920 -------------------------------------------------------------------------------------------------------------------- Wireless Telecommunication Services - 0.7% 53,100 America Movil SA de CV (b) 1,168,200 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in Mexico 1,794,120 - ------------------------------------------------------------------------------------------------------------------------------------ Spain - 3.3% Diversified Telecommunication Services - 1.7% 159,888 Telefonica SA 2,644,395 -------------------------------------------------------------------------------------------------------------------- Electric Utilities - 1.6% 33,600 Endesa SA 757,714 72,200 Iberdrola SA 1,858,733 ------------ 2,616,447 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in Spain 5,260,842 - ------------------------------------------------------------------------------------------------------------------------------------
Merrill Lynch Utilities and Telecommunications Fund, Inc. Schedule of Investments as of August 31, 2005 (in U.S. dollars)
Shares Country Industry Held Common Stocks Value - ------------------------------------------------------------------------------------------------------------------------------------ United Electric Utilities - 1.7% 41,400 Scottish & Southern Energy Plc $ 736,013 Kingdom - 4.7% 208,900 Scottish Power Plc 1,891,035 ------------ 2,627,048 -------------------------------------------------------------------------------------------------------------------- Independent Power Producers & 311,500 International Power Plc 1,306,625 Energy Traders - 0.8% -------------------------------------------------------------------------------------------------------------------- Multi-Utilities - 0.7% 81,000 Centrica Plc 364,669 69,919 National Grid Plc 662,501 ------------ 1,027,170 -------------------------------------------------------------------------------------------------------------------- Wireless Telecommunication Services - 1.5% 86,900 Vodafone Group Plc (b) 2,368,025 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in the United Kingdom 7,328,868 - ------------------------------------------------------------------------------------------------------------------------------------ United Commercial Services & Supplies - 0.4% 126,000 Synagro Technologies, Inc. 655,200 States - 71.1% -------------------------------------------------------------------------------------------------------------------- Diversified Telecommunication Services - 7.6% 108,600 BellSouth Corp. 2,855,094 50,900 Citizens Communications Co. 694,276 103,800 SBC Communications, Inc. 2,499,504 134,525 Sprint Corp. 3,488,235 71,700 Verizon Communications, Inc. 2,345,307 ------------ 11,882,416 -------------------------------------------------------------------------------------------------------------------- Electric Utilities - 20.4% 52,700 American Electric Power Co., Inc. 1,959,386 50,662 Cinergy Corp. 2,231,154 37,800 Cleco Corp. 869,400 23,200 DPL, Inc. 626,168 67,100 Edison International 3,021,513 49,900 Entergy Corp. 3,738,009 100,000 Exelon Corp. 5,389,000 44,600 FPL Group, Inc. 1,921,814 54,300 FirstEnergy Corp. 2,770,929 17,100 ITC Holdings Corp. 466,146 137,200 PPL Corp. 4,384,912 31,800 Pinnacle West Capital Corp. 1,428,774 59,100 Reliant Energy, Inc. (a) 738,750 72,000 The Southern Co. 2,476,800 ------------ 32,022,755 -------------------------------------------------------------------------------------------------------------------- Energy Equipment & Services - 1.1% 14,000 Halliburton Co. 867,580 11,800 Noble Corp. 841,340 ------------ 1,708,920 -------------------------------------------------------------------------------------------------------------------- Gas Utilities - 6.2% 33,100 AGL Resources, Inc. 1,236,285 17,200 Energen Corp. 659,104 17,100 Equitable Resources, Inc. 1,289,340 27,100 National Fuel Gas Co. 815,981 47,300 New Jersey Resources Corp. 2,222,154
Merrill Lynch Utilities and Telecommunications Fund, Inc. Schedule of Investments as of August 31, 2005 (in U.S. dollars)
Shares Country Industry Held Common Stocks Value - ------------------------------------------------------------------------------------------------------------------------------------ 18,600 Oneok, Inc. $ 632,400 21,500 Questar Corp. 1,677,430 42,000 UGI Corp. 1,161,300 ------------ 9,693,994 -------------------------------------------------------------------------------------------------------------------- Independent Power Producers & 59,300 Constellation Energy Group, Inc. 3,483,875 Energy Traders - 9.9% 38,300 Duke Energy Corp. 1,110,317 21,200 NRG Energy, Inc. (a) 848,424 31,000 Ormat Technologies, Inc. 682,000 97,500 TXU Corp. 9,459,450 ------------ 15,584,066 -------------------------------------------------------------------------------------------------------------------- Media - 0.9% 19,700 Cablevision Systems Corp. Class A (a) 614,640 25,500 Comcast Corp. Special Class A (a) 769,590 ------------ 1,384,230 -------------------------------------------------------------------------------------------------------------------- Multi-Utilities - 15.3% 16,000 Alliant Energy Corp. 480,800 26,700 Ameren Corp. 1,466,631 39,000 CMS Energy Corp. (a) 627,900 8,000 Consolidated Edison, Inc. 375,280 16,700 DTE Energy Co. 764,359 66,837 Dominion Resources, Inc. 5,111,694 15,800 Energy East Corp. 414,276 38,000 KeySpan Corp. 1,450,460 113,400 NSTAR 3,352,104 19,900 NiSource, Inc. 480,386 12,100 OGE Energy Corp. 351,263 63,500 PG&E Corp. 2,382,520 42,900 Public Service Enterprise Group, Inc. 2,769,195 41,400 SCANA Corp. 1,754,946 26,300 Sempra Energy 1,178,766 28,600 Wisconsin Energy Corp. 1,120,262 ------------ 24,080,842 -------------------------------------------------------------------------------------------------------------------- Oil, Gas & Consumable Fuels - 6.7% 20,500 Chesapeake Energy Corp. 648,005 11,000 ConocoPhillips 725,340 9,400 Consol Energy, Inc. 655,180 9,600 Devon Energy Corp. 583,392 31,900 EOG Resources, Inc. 2,036,177 15,800 James River Coal Co. (a) 783,206 11,000 Kinder Morgan, Inc. 1,050,170 33,200 Peabody Energy Corp. 2,379,444 71,800 Williams Cos., Inc. 1,611,192 ------------ 10,472,106 --------------------------------------------------------------------------------------------------------------------
Merrill Lynch Utilities and Telecommunications Fund, Inc. Schedule of Investments as of August 31, 2005 (in U.S. dollars)
Shares Country Industry Held Common Stocks Value - ------------------------------------------------------------------------------------------------------------------------------------ Wireless Telecommunication Services - 2.6% 52,945 Alltel Corp. $ 3,282,061 28,400 Nextel Partners, Inc. Class A (a) 745,216 ------------ 4,027,277 -------------------------------------------------------------------------------------------------------------------- Total Common Stocks in the United States 111,511,806 - ------------------------------------------------------------------------------------------------------------------------------------ Total Common Stocks (Cost - $94,146,989) - 96.4% 151,198,699 - ------------------------------------------------------------------------------------------------------------------------------------ Face Amount Trust Preferred - ------------------------------------------------------------------------------------------------------------------------------------ United Independent Power Producers & $1,092,450 AES Trust III, 6.75% due 10/15/2029 1,049,658 States - 0.7% Energy Traders - 0.7% -------------------------------------------------------------------------------------------------------------------- Total Trust Preferred (Cost - $661,484) - 0.7% 1,049,658 - ------------------------------------------------------------------------------------------------------------------------------------ Beneficial Interest Short-Term Securities - ------------------------------------------------------------------------------------------------------------------------------------ $ 2,742,031 Merrill Lynch Liquidity Series, LLC Cash Sweep Series I (c) 2,742,031 - ------------------------------------------------------------------------------------------------------------------------------------ Total Short-Term Securities (Cost - $2,742,031) - 1.7% 2,742,031 - ------------------------------------------------------------------------------------------------------------------------------------ Total Investments (Cost - $97,550,504*) - 98.8% 154,990,388 Other Assets Less Liabilities - 1.2% 1,838,564 ------------ Net Assets - 100.0% $156,828,952 ============
* The cost and unrealized appreciation (depreciation) of investments as of August 31, 2005, as computed for federal income tax purposes, were as follows: Aggregate cost $ 97,662,092 ============ Gross unrealized appreciation $ 57,363,599 Gross unrealized depreciation (35,303) ------------ Net unrealized appreciation $ 57,328,296 ============ (a) Non-income producing security. (b) Depositary receipts. (c) Investments in companies considered to be an affiliate of the Fund, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
----------------------------------------------------------------------------------------- Affiliate Net Activity Interest Income ----------------------------------------------------------------------------------------- Merrill Lynch Liquidity Series, LLC Cash Sweep Series I $ (1,804,921) $ 71,738 -----------------------------------------------------------------------------------------
For Fund 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 the purposes of this report, which may combine industry sub-classifications for reporting ease. Industries shown as a percent of net assets. Item 2 - Controls and Procedures 2(a) - The registrant's certifying officers have reasonably designed such disclosure controls and procedures to ensure material information relating to the registrant is made known to us by others particularly during the period in which this report is being prepared. The registrant's certifying officers have determined that the registrant's disclosure controls and procedures are effective based on our evaluation of these controls and procedures as of a date within 90 days prior to the filing date of this report. 2(b) - There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that occurred during the last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3 - Exhibits Certifications - Attached hereto 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. Merrill Lynch Utilities and Telecommunications Fund, Inc. By: /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer Merrill Lynch Utilities and Telecommunications Fund, Inc. Date: October 19, 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/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer Merrill Lynch Utilities and Telecommunications Fund, Inc. Date: October 19, 2005 By: /s/ Donald C. Burke ----------------------- Donald C. Burke Chief Financial Officer Merrill Lynch Utilities and Telecommunications Fund, Inc. Date: October 19, 2005 EX-99.CERT 2 e501062_ex99-cert.txt CERTIFICATION PURSUANT TO SECTION 302 EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - -------------------------------------------------------------------------------- I, Robert C. Doll, Jr., Chief Executive Officer of Merrill Lynch Utilities and Telecommunications Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of Merrill Lynch Utilities and Telecommunications Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under out supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: October 19, 2005 /s/ Robert C. Doll, Jr. ----------------------- Robert C. Doll, Jr. Chief Executive Officer Merrill Lynch Utilities and Telecommunications Fund, Inc. EX-99. CERT CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002 - -------------------------------------------------------------------------------- I, Donald C. Burke, Chief Financial Officer of Merrill Lynch Utilities and Telecommunications Fund, Inc., certify that: 1. I have reviewed this report on Form N-Q of Merrill Lynch Utilities and Telecommunications Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedule of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under out supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and d) disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: October 19, 2005 /s/ Donald C. Burke ----------------------- Donald C. Burke Chief Financial Officer Merrill Lynch Utilities and Telecommunications Fund, Inc. -----END PRIVACY-ENHANCED MESSAGE-----