N-Q 1 figfform.txt United States Securities and Exchange Commission Washington, D.C. 20549 Form N-Q Quarterly Schedule of Portfolio Holdings of Registered Management Investment Companies 811-6307 (Investment Company Act File Number) Federated Intermediate Government Fund, Inc. --------------------------------------------------------------- (Exact Name of Registrant as Specified in Charter) Federated Investors Funds 5800 Corporate Drive Pittsburgh, Pennsylvania 15237-7000 (412) 288-1900 (Registrant's Telephone Number) John W. McGonigle, Esquire Federated Investors Tower 1001 Liberty Avenue Pittsburgh, Pennsylvania 15222-3779 (Name and Address of Agent for Service) (Notices should be sent to the Agent for Service) Date of Fiscal Year End: 2/28/06 ------- Date of Reporting Period: Quarter ended 5/31/05 --------------------- Item 1. Schedule of Investments
Federated Intermediate Government Fund Portfolio of Investments May 31, 2005 (unaudited) Principal Amount Value U.S. Treasury--52.5% $ 8,000,000 United States Treasury Notes, 2.500%, 9/30/2006 $ 7,896,240 6,100,000 United States Treasury Notes, 3.000%, 12/31/2006 6,047,601 20,000,000 (1) United States Treasury Notes, 4.000%, 4/15/2010 20,209,400 Total U.S. TREASURY (IDENTIFIED COST $34,030,901) 34,153,241 Government Agencies--9.2% Federal Home Loan Bank System--9.2% 6,000,000 3.125%, 11/15/2006 (IDENTIFIED COST $5,956,071) 5,952,960 Mortgage Backed Securities--26.1% Federal Home Loan Mortgage Corp--17.2% 5,000,000 4.500%, 6/1/2020 4,976,563 3,999,999 5.000%, 5/1/2020 4,051,250 2,052,277 5.500%, 4/1/2020 2,112,482 47,351 6.500%, 12/1/2015 49,480 Total 11,189,775 Federal National Mortgage Association--8.9% 5,679,073 5.500%, 12/1/2019 - 5/1/2025 5,814,777 Total Mortgage Backed Securities (identified cost $16,920,406) 17,004,552 Adjustable Rate Mortgages--11.5% Federal National Mortgage Association ARMs--11.5% 875,208 3.683%, 6/1/2033 869,489 568,146 3.817%, 10/1/2034 568,221 1,599,270 3.998%, 5/1/2033 1,598,287 4,464,670 4.114%, 1/1/2035 4,475,789 Total adjustable-rate mortgages (identified cost $7,524,858) 7,511,786 Repurchase Agreements--39.9% 431,000 Interest in $3,070,000,000 joint repurchase agreement with Barclays Capital, Inc., 3.080%, dated 5/31/2005 to be repurchased at $431,037 on 6/1/2005, collateralized by U.S. Government Agency Obligations with various maturities to 5/5/2008, collateral market value $3,131,400,678 431,000 5,000,000 (2) Interest in $60,000,000 joint repurchase agreement with UBS Securities LLC, 3.000%, dated 5/17/2005 to be repurchased at $5,012,500 on 6/16/2005, collateralized by U.S. Government Agency Obligations with various maturities to 3/25/2032, collateral market value $61,803,786 5,000,000 10,000,000 Interest in $1,290,000,000 joint repurchase agreement with BNP Paribas Securities Corp., 3.080%, dated 5/31/2005 to be repurchased at $10,000,856 on 6/1/2005, collateralized by U.S. Government Agency Obligations with various maturities to 6/1/2035, collateral market value $1,321,559,572 (held as collateral for securities lending) 10,000,000 10,541,000 Interest in $1,000,000,000 joint repurchase agreement with Goldman Sachs and Co., 3.080%, dated 5/31/2005 to be repurchased at $10,541,902 on 6/1/2005, collateralized by U.S. Government Agency Obligations with various maturities to 4/1/2035, collateral market value $1,029,693,799 (held as collateral for securities lending) 10,541,000 Total repurchase agreements (at amortized cost) 25,972,000 Total Investments - 139.2% (identified cost $90,404,236)(3) 90,594,539 OTHER ASSETS AND LIABILITIES - NET - (39.2)% (25,490,311) TOTAL NET ASSETS - 100% $ 65,104,228 1 All or a portion of these shares are temporarily on loan to unaffiliated broker/dealers. As of May 31, 2005, securities subject to this type of arrangement and related collateral were as follows: Market Value of Securities Loaned Market Value of Collateral $20,209,400 $20,541,000 2 Although final maturity falls beyond seven days at date of purchase, a liquidity feature is included in each transaction to permit termination of the repurchase agreement within seven days. 3 At May 31, 2005, the cost of investments for federal tax purposes was $90,404,236. The net unrealized appreciation of investments for federal tax purposes was $190,303. This consists of net unrealized appreciation from investments for those securities having an excess of value over cost of $218,516 and net unrealized depreciation from investments for those securities having an excess of cost over value of $28,213. Note: The categories of investments are shown as a percentage of total net assets at May 31, 2005. Investment Valuation U.S. government securities are generally valued at the mean of the latest bid and asked price as furnished by an independent pricing service. Mortgage-backed security values furnished by an independent pricing service are based on the aggregate investment value of the projected cash flows to be generated by the security. Short-term securities are valued at the prices provided by an independent pricing service. However, short-term securities with remaining maturities of 60 days or less at the time of purchase may be valued at amortized cost, which approximates fair market value. Securities for which no quotations are readily available are valued at fair value as determined in accordance with procedures established by and under general supervision of the Board of Directors. The following acronyms are used throughout this portfolio: ARMS --Adjustable Rate Mortgages
Item 2. Controls and Procedures (a) The registrant's Principal Executive Officer and Principal Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Act) are effective in design and operation and are sufficient to form the basis of the certifications required by Rule 30a-(2) under the Act, based on their evaluation of these disclosure controls and procedures within 90 days of the filing date of this report on Form N-Q. (b) There were no changes in the registrant's internal control over financial reporting (as defined in rule 30a-3(d) under the Act) during the 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 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 Federated Intermediate Government Fund, Inc. By /S/Richard J. Thomas Richard J. Thomas, Principal Financial Officer (insert name and title) Date July 15, 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/J. Christopher Donahue J. Christopher Donahue, Principal Executive Officer Date July 15, 2005 By /S/Richard J. Thomas Richard J. Thomas, Principal Financial Officer Date July 15, 2005