-----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, LEi4B3Vp+42dl5sblb4s+bEuoL2eThIBih4MRMz2BwaoDxqsMA5lF7o6ughr0Dda aAqLHBMJbXokk9ryesW/fA== 0000950123-09-065689.txt : 20091124 0000950123-09-065689.hdr.sgml : 20091124 20091124163258 ACCESSION NUMBER: 0000950123-09-065689 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091124 DATE AS OF CHANGE: 20091124 EFFECTIVENESS DATE: 20091124 FILER: COMPANY DATA: COMPANY CONFORMED NAME: UBS EQUITY OPPORTUNITY FUND LLC CENTRAL INDEX KEY: 0001131682 IRS NUMBER: 134151331 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-10269 FILM NUMBER: 091205210 BUSINESS ADDRESS: STREET 1: 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2127132000 MAIL ADDRESS: STREET 1: 1285 AVENUE OF THE AMERICAS STREET 2: 1285 AVENUE OF THE AMERICAS CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: PW EQUITY OPPORTUNITY FUND LLC DATE OF NAME CHANGE: 20010108 N-Q 1 b55765equityopp_nq.txt UBS EQUITY OPP NQ 9-09 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 811-10269 --------- UBS Equity Opportunity Fund, L.L.C. --------------------------------------------------- (Exact name of registrant as specified in charter) 1285 Avenue of the Americas, 11th Floor New York, NY 10019 --------------------------------------------------- (Address of principal executive offices) (Zip code) Steven S. Drachman c/o UBS Financial Services Inc. 1285 Avenue of the Americas, 11th Floor New York, NY 10019 --------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 212-882-5819 ------------ Date of fiscal year end: December 31 ----------- Date of reporting period: September 30, 2009 ------------------ Form N-Q is to be used by 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 270.30b1-5). 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, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ITEM 1. SCHEDULE OF INVESTMENTS. The Schedule(s) of Investments is attached herewith. UBS EQUITY OPPORTUNITY FUND, L.L.C. SCHEDULE OF PORTFOLIO INVESTMENTS (UNAUDITED) - -------------------------------------------------------------------------------- SEPTEMBER 30, 2009 - --------------------------------------------------------------------------------
REALIZED AND DOLLAR AMOUNT OF UNREALIZED FIRST FAIR VALUE FOR % OF GAIN/(LOSS) INITIAL AVAILABLE FIRST MEMBERS' FROM ACQUISITION LIQUIDITY REDEMPTION AVAILABLE INVESTMENT FUND COST FAIR VALUE CAPITAL INVESTMENTS DATE (a) (b) REDEMPTION (b) - --------------------- ----------- ----------- -------- ----------- ----------- --------- ---------- ---------------- LONG/SHORT EQUITY Alydar QP Fund, L.P. $ 6,000,000 $ 6,068,089 7.25% $ 299,175 9/1/2008 Quarterly Alysheba QP Fund, L.P. 2,000,000 1,915,808 2.29 282,719 9/1/2008 Quarterly Artis Aggressive Growth (Institutional), L.P. 1,500,000 2,316,106 2.77 1,226,250 9/1/2008 Quarterly Axial Capital Institutional, L.P. 3,500,000 3,017,293 3.61 (389,431) 12/1/2008 Semi-Annually 12/31/2010 3,017,293 Bonanza Liquidating Trust, Class A (c) 687,230 398,097 0.48 (168,046) 4/1/2004 N/A Bonanza Partners, L.P. (c) 547,095 395,359 0.47 66,588 4/1/2004 N/A D. Jabro Partners, L.P. 5,380,283 7,476,471 8.94 488,662 1/1/2006 Annually Eminence Partners, L.P. 3,995,682 8,059,384 9.63 622,024 3/1/2001 Quarterly GCore Capital Partners, L.P. 3,500,000 3,717,128 4.44 217,128 3/1/2009 Quarterly 3/31/2010 3,717,128 MSG Partners, L.P. 5,850,561 6,221,406 7.44 (27,446) 1/1/2008 Annually 12/31/2009 6,221,406 North Run Qualified Partners, L.P. 4,376,364 4,404,339 5.26 1,291,504 1/1/2008 Annually 6/30/2010 4,404,339 Pennant Onshore Qualified, L.P. 1,262,927 4,060,399 4.85 746,189 1/1/2003 Quarterly Pennant Winward Fund, L.P. 3,012,518 6,055,342 7.24 779,289 10/1/2004 Quarterly Pershing Square, L.P. 835,575 1,868,203 2.23 372,370 1/1/2005 Annually Seneca Capital, L.P. (c) 1,716,269 1,631,565 1.95 (106,149) 7/1/2004 N/A Seneca Capital, L.P. (d) 1,060,631 192,904 0.23 (88,249) 7/1/2004 N/A Seneca Capital, L.P. (d) 976,905 64,341 0.08 (171,886) 7/1/2004 N/A Tiedemann Falconer Partners, L.P. 4,500,000 4,386,598 5.24 (113,402) 1/1/2009 Quarterly Wesley Capital QP, L.P. 2,930,694 2,974,658 3.55 308,557 8/1/2005 Quarterly ----------- ----------- ----- ---------- LONG/SHORT EQUITY SUBTOTAL $53,632,734 $65,223,490 77.95% $5,635,846 Redeemed Investment Funds (e) -- -- -- (333,956) ----------- ----------- ----- ---------- TOTAL $53,632,734 $65,223,490 77.95% $5,301,890 =========== =========== ===== ==========
(a) Available frequency of redemptions after the initial lock-up period, if any. Different tranches may have varying liquidity terms. (b) Investment Funds with no dates or amounts can be redeemed in full. (c) The Investment Fund is in liquidation. In addition to any redemption proceeds that may have already been received, the Fund will continue to receive proceeds periodically as the Investment Fund liquidates its underlying investments. (d) A portion or all of the Funds' interests in the Investment Fund are held in side pockets which have restricted liquidity. (e) Realized gain/(loss) from redeemed Investment Funds includes both gain/(loss) recognized from the sale of investments plus any gain/(loss) recognized from adjustments to hold-back amounts from prior year sales of investments received in the current year. UBS EQUITY OPPORTUNITY FUND, L.L.C. SCHEDULE OF PORTFOLIO INVESTMENTS (UNAUDITED) - -------------------------------------------------------------------------------- SEPTEMBER 30, 2009 - -------------------------------------------------------------------------------- The following is a summary of the inputs used in valuing the Fund's investments at fair value. The inputs or methodology used for valuing the Fund's investments are not necessarily an indication of the risk associated with investing in those investments. ASSETS TABLE - -------------------------------------------------------------------------------- LEVEL 2 LEVEL 3 TOTAL FAIR SIGNIFICANT SIGNIFICANT VALUE AT LEVEL 1 OBSERVABLE UNOBSERVABLE DESCRIPTION 09/30/2009 QUOTED PRICES INPUTS INPUTS - -------------------------------------------------------------------------------- Long/Short Equity $65,223,490 $ -- $ -- $65,223,490 TOTAL ASSETS $65,223,490 $ -- $ -- $65,223,490 --------------------------------------------------------- The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:
- --------------------------------------------------------------------------------------------------------------------------------- CHANGE IN TRANSFERS BALANCE AS OF ACCRUED UNREALIZED NET IN AND/OR BALANCE AS OF DECEMBER 31, DISCOUNTS/ REALIZED APPRECIATION/ PURCHASES/ OUT OF SEPTEMBER 30, DESCRIPTION 2008 PREMIUMS GAIN/(LOSS) DEPRECIATION (SALES) LEVEL 3 2009 - --------------------------------------------------------------------------------------------------------------------------------- INVESTMENTS IN INVESTMENT STRATEGIES - --------------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------------- Long/Short Equity 53,166,541 -- (515,142) 6,027,927 6,544,164 -- 65,223,490 - --------------------------------------------------------------------------------------------------------------------------------- TOTAL 53,166,541 -- (515,142) 6,027,927 6,544,164 -- 65,223,490 - --------------------------------------------------------------------------------------------------------------------------------- - ---------------------------------------------------------------------------------------------------------------------------------
Net change in unrealized appreciation/(depreciation) on Level 3 assets and liabilities still held as of September 30, 2009 is $6,027,927. The FASB issued in September 2009 Accounting Standards Update No. 2009-12, "Fair Value Measurements and Disclosures (Topic 820), Investments in Certain Entities That Calculate Net Asset Value per Share (or Its Equivalent)". The provisions contained within Accounting Standards Update 2009-12 are effective for interim and annual periods ending after December 15, 2009. At this time, management is evaluating the implications of Accounting Standards Update 2009-12 and its impact on future financial statements and accompanying notes has not yet been determined. ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive and principal financial officers, or persons performing similar functions, 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 (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's 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. Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. 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) UBS Equity Opportunity Fund, L.L.C. ------------------------------------------------------------------- By (Signature and Title)* /s/ Craig Goos ------------------------------------------------------- Craig Goos, Principal Executive Officer Date November 24, 2009 ---------------------------------------------------------------------------- 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 (Signature and Title)* /s/ Craig Goos ------------------------------------------------------- Craig Goos, Principal Executive Officer Date November 24, 2009 ---------------------------------------------------------------------------- By (Signature and Title)* /s/ Robert Aufenanger ------------------------------------------------------- Robert Aufenanger, Principal Financial Officer Date November 24, 2009 ---------------------------------------------------------------------------- * Print the name and title of each signing officer under his or her signature. EX-99.CERT 2 b55765equityopp_cert.txt UBS EQUITY OPP CERTIFICATION 302 CERTIFICATION PURSUANT TO RULE 30A-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT I, Craig Goos, certify that: 1. I have reviewed this report on Form N-Q of UBS Equity Opportunity Fund, L.L.C.; 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 schedules 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 our 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 registrant's 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: November 24, 2009 /s/ Craig Goos ---------------------------- --------------------------------------- Craig Goos, Principal Executive Officer CERTIFICATION PURSUANT TO RULE 30A-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT I, Robert Aufenanger, certify that: 1. I have reviewed this report on Form N-Q of UBS Equity Opportunity Fund, L.L.C.; 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 schedules 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 our 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 registrant's 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: November 24, 2009 /s/ Robert Aufenanger -------------------------- ---------------------------------------------- Robert Aufenanger, Principal Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----