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 811-09261
----------------------------------------------
Foxby Corp.
--------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
11 Hanover Square, 12th Floor, New York, NY 10005
--------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Thomas B. Winmill, President
Foxby Corp.
11 Hanover Square, 12th Floor
New York, NY 10005
--------------------------------------------------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code: 1-212-344-6310
----------------
Date of fiscal year end: 12/31
------------
Date of reporting period: 09/30/04
---------------------
Item 1. Schedule of Investments
September 30, 2004 (Unaudited)
Common Stocks - Long - 43.86% Shares Value
----------- --------------
Electronic Components - 1.88%
Bonso Electronics International, Inc. 22,282 $ 121,660
---------------
Fats & Oils - 3.03%
Darling International, Inc. (a) 45,600 196,536
---------------
Finance Lessors - 1.40%
Eplus, Inc. (a) 8,673 90,728
---------------
Gaskets, Packaging & Sealing Devices & Rubber & Plastics - 3.20%
Enpro Industries, Inc. (a) 8,600 207,604
---------------
Gold & Silver Ores - 1.66%
Guinor Gold Corp. (a) 127,500 107,795
---------------
Insurance Agents, Brokers & Services - 0.95%
National Medical Health Card (a) 2,937 61,383
---------------
Jewelry, Precious Metal - 2.97%
Dundee Precious Metals, Inc. (a) 29,000 153,524
LJ International, Inc. (a) 17,400 39,150
--------------
192,674
--------------
Meat Packing Plants - 1.81%
Seaboard Corp. 200 117,190
--------------
Mineral & Ores - 2.21%
Peru Copper, Inc. (a) 110,000 143,410
--------------
Miscellaneous Business Services - 3.28%
Safety Intelligence Systems Corp. (a) (b) 75,000 212,145
--------------
Motor Vehicle Parts & Accessories - 0.55%
Intier Automotive, Inc. 1,700 35,275
--------------
Natural Gas Distribution - 3.02%
Metrogas, Inc. (c) 43,900 195,794
--------------
Retail - Auto Dealers & Gasoline Stations - 3.87%
United Auto Group, Inc. 10,000 250,900
--------------
Retail - Shoe Stores - 2.10%
The Finish Line - Class A 4,400 136,048
--------------
Security Brokers, Dealers & Flotation Companies - 0.51%
Maxcor Financial Group, Inc. 3,702 33,129
--------------
State Commercial Banks - 1.01%
Crescent Banking Co. 2,600 65,520
--------------
-1-
Schedule of Investments - continued
September 30, 2004 (Unaudited)
Common Stocks - Long - 43.86% - continued Shares Value
----------- --------------
Telephone Communications - 3.05%
France Telecom (c) 5,500 $137,500
IDT Corp. (a) 4,100 59,778
--------------
197,278
--------------
Unsupported Plastics Film & Sheet - 1.23%
Atlantis Plastics, Inc. (a) 5,300 79,606
--------------
Wholesale - Beer, Wine & Distilled Alcoholic Beverages - 1.91%
Central European Distribution Corp. (a) 5,550 123,987
--------------
Wholesale - Groceries & Related Products - 4.22%
Nash Finch Co. 8,700 273,615
--------------
TOTAL COMMON STOCKS - LONG (Cost $2,893,963) 2,842,277
--------------
Common Stocks - Short - (40.37)%
Biological Products - (2.54)%
Gilead Sciences, Inc. (a) (4,400) (164,472)
--------------
Communications Services - (4.86)%
Spectrasite, Inc. (a) (3,500) (162,750)
XM Satellite Radio Holdings, Inc. - Class A (a) (4,900) (151,998)
--------------
(314,748)
--------------
Computer Communications Equipment - (3.13)%
Juniper Networks, Inc. (a) (8,600) (202,960)
--------------
Crude Petroleum & Natural Gas - (2.23)%
FX Energy, Inc. (a) (16,000) (144,640)
--------------
Life Insurance - (2.36)%
China Life Insurance Co. (a) (6,000) (153,120)
--------------
Pharmaceutical Preparations - (2.91)%
Genentech, Inc. (a) (3,600) (188,712)
--------------
Radio Bradcasting Stations - (2.32)%
Sirius Satellite Radio, Inc. (a) (47,000) (150,400)
--------------
Semiconductors & Related Devices - (6.47)%
Linear Technology Corp. (5,100) (184,824)
Maxim Integrated Products, Inc. (2,900) (122,641)
Rambus, Inc. (a) (7,100) (111,399)
--------------
(418,864)
--------------
Services - Business Services - (4.38)%
Ask Jeeves, Inc. (3,900) (127,569)
eBay, Inc. (a) (1,700) (156,298)
--------------
(283,867)
--------------
-2-
Schedule of Investments - continued
September 30, 2004 (Unaudited)
Common Stocks - Short - (40.37)% - continued Shares Value
----------- -------------
Services - Computer Integrated Systems Design - (2.51)%
Yahoo, Inc. (4,800) $ (162,768)
--------------
Services - Computer Programming Services - (2.62)%
Infosys Technologies, Ltd. (3,000) (169,800)
--------------
Services - Miscellaneous Amusement & Recreation - (4.04)%
Lakes Entertainment, Inc. (a) (25,000) (262,000)
--------------
TOTAL COMMON STOCKS - SHORT (Cost $2,389,002) (2,616,351)
--------------
Short Term Investments - 61.72% Par Value
--------------
State Street Bank & Trust, Repurchase Agreement, 0.35%, Due 10/01/04
(collateralized by U.S. Treasury Notes) 2,003,355 2,003,355
U.S. Treasury Bill, Due 11/18/04 2,000,000 1,996,054
--------------
TOTAL SHORT TERM INVESTMENTS (Cost $3,999,409) 3,999,409 %
--------------
Warrants - 0.00% Shares
------------
Peru Copper Inc., 3/18/06 55,000 -
--------------
TOTAL WARRANTS (Cost $0) -
--------------
TOTAL INVESTMENTS (Cost $4,504,370) - 65.21% $ 4,225,335
--------------
Cash and other assets less liabilities - 34.79% 2,254,758
--------------
TOTAL NET ASSETS - 100.00% $ 6,480,093
==============
(a) Non-income producing. (b) Security is not publicly traded. (c) American
Depositary Receipts.
Tax Related
Unrealized appreciation $ 200,515
Unrealized depreciation (479,550)
-------------
Net unrealized depreciation $ (279,035)
=============
Aggregate cost of securities for income tax purposes $ 4,504,370
=============
-3-
Item 2. Controls and Procedures
(a) The 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 Investment Company Act) provide
reasonable assurances that material information relating to the registrant
is made known to them by the appropriate persons, based on their evaluation
of these controls and procedures as of a date within 90 days of the filing
date of this report.
(b) There were no significant 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 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) Certifications of principal executive and principal financial officers as
required by Rule 30a-2(a) under the Investment Company Act of 1940.
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.
FOXBY CORP.
By: /s/ Thomas B. Winmill
-----------------------------
Thomas B. Winmill, President
Date: November 29, 2004
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/ Thomas B. Winmill
-----------------------------
Thomas B. Winmill, President
Date: November 29, 2004
By: /s/ William G. Vohrer
-----------------------------
William G. Vohrer, Treasurer
Date: November 29, 2004
EXHIBIT INDEX
(a) Certifications of principal executive and principal financial officers as
required by Rule 30a-2(a) under the Investment Company Act of 1940.
(EX-99.CERT)