Principal | ||||||||
Amount or | ||||||||
No. Shares | Fair Value | |||||||
Common and Preferred Stocks 37.0% |
||||||||
Financial Services 20.7% |
||||||||
F H L M C Pfd Series L |
73,647 | 209,894 | ||||||
F H L M C Pfd Series M |
625 | 631 | ||||||
F H L M C Pfd |
5,000 | 7,500 | ||||||
Diversified 79.3% |
||||||||
Ravensource Fund |
74,000 | 832,999 | ||||||
Total Common and Preferred Stocks |
1,051,024 | |||||||
Fixed Income Securities 63.0% |
||||||||
US Treasury Note 4.50% due 2011 |
$ | 1,751,000 | 1,788,489 | |||||
Total Fixed Income Securities |
l,788,489 | |||||||
Total Investments in Securities |
$ | 2,839,513 | ||||||
(a) | The Registrants principal executive officer, or persons performing similar functions, have concluded that the Registrants 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 to the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting. |
FIRST CAROLINA INVESTORS, INC. | ||||
By: | /s/ Brent D. Baird | |||
Brent D. Baird President |
||||
Date: | May 26, 2011 |
By: | /s/ Brent D. Baird | |||
Brent D. Baird Chief Executive Officer |
||||
Date: | May 26, 2011 |
1. | I have reviewed this report on Form N-Q of First Carolina Investors, Inc. (the Registrant); | |
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 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 my supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to me 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 my 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 Registrants disclosure controls and procedures and presented in this report my 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 Registrants internal control over financial reporting that occurred during the Registrants most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Registrants internal control over financial reporting; and |
5. | The Registrant and I have disclosed to the Registrants auditors and the audit committee of the Registrants 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 Registrants 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 Registrants internal control over financial reporting. |
Date:
|
May 26, 2011 | |||
By:
|
/s/ Brent D. Baird Brent D. Baird Chief Executive Officer / President |