0000950123-11-100653.txt : 20111128 0000950123-11-100653.hdr.sgml : 20111128 20111128144650 ACCESSION NUMBER: 0000950123-11-100653 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111128 DATE AS OF CHANGE: 20111128 EFFECTIVENESS DATE: 20111128 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SMALL-CAP PORTFOLIO CENTRAL INDEX KEY: 0001105226 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-09915 FILM NUMBER: 111228054 BUSINESS ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 800-225-6265 MAIL ADDRESS: STREET 1: TWO INTERNATIONAL PLACE CITY: BOSTON STATE: MA ZIP: 02110 FORMER COMPANY: FORMER CONFORMED NAME: SMALL-CAP GROWTH PORTFOLIO DATE OF NAME CHANGE: 20020502 FORMER COMPANY: FORMER CONFORMED NAME: SMALL CO GROWTH PORTFOLIO DATE OF NAME CHANGE: 20000426 FORMER COMPANY: FORMER CONFORMED NAME: EMERGING GROWTH PORTFOLIO /MA DATE OF NAME CHANGE: 20000203 0001105226 S000005244 SMALL-CAP PORTFOLIO C000014296 SMALL-CAP PORTFOLIO N-Q 1 b88906a1nvq.htm SMALL-CAP PORTFOLIO Small-Cap Portfolio
 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-09915
Investment Company Act File Number
Small-Cap Portfolio
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number, Including Area Code)
December 31
Date of Fiscal Year End
September 30, 2011
Date of Reporting Period
 
 

 

 

Item 1. Schedule of Investments

 

 

Small-Cap Portfolio
September 30, 2011
 
PORTFOLIO OF INVESTMENTS (Unaudited)
 
Common Stocks — 93.8%
 
                 
Security   Shares     Value  
Aerospace & Defense — 1.8%
               
Aerovironment, Inc.(1)
    105,700     $ 2,975,455  
                 
            $ 2,975,455  
                 
Building Products — 2.3%
               
Armstrong World Industries, Inc. 
    37,520     $ 1,292,189  
Trex Co., Inc.(1)
    155,890       2,498,916  
                 
            $ 3,791,105  
                 
Capital Markets — 4.0%
               
Lazard, Ltd., Class A
    105,450     $ 2,224,995  
MF Global Holdings, Ltd.(1)
    445,920       1,841,650  
Walter Investment Management Corp. 
    105,510       2,419,344  
                 
            $ 6,485,989  
                 
Chemicals — 1.3%
               
LSB Industries, Inc.(1)
    75,720     $ 2,170,892  
                 
            $ 2,170,892  
                 
Commercial Banks — 0.5%
               
Texas Capital Bancshares, Inc.(1)
    38,280     $ 874,698  
                 
            $ 874,698  
                 
Commercial Services & Supplies — 2.2%
               
Team, Inc.(1)
    169,251     $ 3,550,886  
                 
            $ 3,550,886  
                 
Communications Equipment — 1.6%
               
Sycamore Networks, Inc. 
    146,590     $ 2,645,950  
                 
            $ 2,645,950  
                 
Computers & Peripherals — 1.4%
               
Quantum Corp.(1)
    1,264,110     $ 2,288,039  
                 
            $ 2,288,039  
                 
Construction & Engineering — 1.6%
               
MYR Group, Inc./Delaware(1)
    148,470     $ 2,619,011  
                 
            $ 2,619,011  
                 
Distributors — 2.3%
               
LKQ Corp.(1)
    155,400     $ 3,754,464  
                 
            $ 3,754,464  
                 
Diversified Consumer Services — 0.9%
               
American Public Education, Inc.(1)
    40,160     $ 1,365,440  
                 
            $ 1,365,440  
                 
Electronic Equipment, Instruments & Components — 3.5%
               
Elster Group SE ADR(1)
    164,010     $ 2,451,950  
FEI Co.(1)
    14,040       420,638  
National Instruments Corp. 
    118,545       2,709,939  
                 
            $ 5,582,527  
                 
Energy Equipment & Services — 3.2%
               
Dresser-Rand Group, Inc.(1)
    65,720     $ 2,663,632  
Tidewater, Inc. 
    59,680       2,509,544  
                 
            $ 5,173,176  
                 
 
1

 

                 
Security   Shares     Value  
Food Products — 3.1%
               
Corn Products International, Inc. 
    66,910     $ 2,625,548  
Mead Johnson Nutrition Co., Class A
    34,254       2,357,703  
                 
            $ 4,983,251  
                 
Gas Utilities — 2.0%
               
New Jersey Resources Corp. 
    76,240     $ 3,245,537  
                 
            $ 3,245,537  
                 
Health Care Equipment & Supplies — 5.5%
               
Analogic Corp. 
    64,070     $ 2,909,419  
Orthofix International NV(1)
    89,370       3,084,159  
West Pharmaceutical Services, Inc. 
    80,165       2,974,121  
                 
            $ 8,967,699  
                 
Health Care Providers & Services — 5.6%
               
Catalyst Health Solutions, Inc.(1)
    63,947     $ 3,689,102  
MEDNAX, Inc.(1)
    54,050       3,385,692  
Team Health Holdings, Inc.(1)
    124,500       2,044,290  
                 
            $ 9,119,084  
                 
Hotels, Restaurants & Leisure — 3.2%
               
Six Flags Entertainment Corp. 
    105,380     $ 2,921,134  
WMS Industries, Inc.(1)
    130,460       2,294,791  
                 
            $ 5,215,925  
                 
Household Products — 2.5%
               
Church & Dwight Co., Inc. 
    91,690     $ 4,052,698  
                 
            $ 4,052,698  
                 
Insurance — 4.0%
               
Allied World Assurance Co. Holdings, Ltd. 
    56,590     $ 3,039,449  
Hanover Insurance Group, Inc. (The)
    62,560       2,220,880  
HCC Insurance Holdings, Inc. 
    45,920       1,242,136  
                 
            $ 6,502,465  
                 
Life Sciences Tools & Services — 1.7%
               
Bruker Corp.(1)
    200,280     $ 2,709,788  
                 
            $ 2,709,788  
                 
Machinery — 7.5%
               
Astec Industries, Inc.(1)
    97,114     $ 2,843,498  
RBC Bearings, Inc.(1)
    98,720       3,355,493  
Tennant Co. 
    89,400       3,162,078  
Valmont Industries, Inc. 
    34,870       2,717,768  
                 
            $ 12,078,837  
                 
Marine — 1.7%
               
Kirby Corp.(1)
    52,030     $ 2,738,859  
                 
            $ 2,738,859  
                 
Media — 2.0%
               
John Wiley & Sons, Inc., Class A
    71,800     $ 3,189,356  
                 
            $ 3,189,356  
                 
Metals & Mining — 1.3%
               
Compass Minerals International, Inc. 
    30,210     $ 2,017,424  
                 
            $ 2,017,424  
                 
Multiline Retail — 3.4%
               
Big Lots, Inc.(1)
    80,970     $ 2,820,185  
Fred’s, Inc. 
    254,220       2,709,985  
                 
            $ 5,530,170  
                 
 
2

 

                 
Security   Shares     Value  
Oil, Gas & Consumable Fuels — 6.1%
               
Brigham Exploration Co.(1)
    123,260     $ 3,113,548  
Cabot Oil & Gas Corp. 
    71,520       4,427,803  
Rosetta Resources, Inc.(1)
    31,370       1,073,481  
SM Energy Co. 
    19,460       1,180,249  
                 
            $ 9,795,081  
                 
Professional Services — 2.4%
               
FTI Consulting, Inc.(1)
    56,920     $ 2,095,225  
Kelly Services, Inc., Class A
    149,542       1,704,779  
                 
            $ 3,800,004  
                 
Real Estate Investment Trusts (REITs) — 4.2%
               
American Campus Communities, Inc. 
    100,880     $ 3,753,745  
PS Business Parks, Inc. 
    59,729       2,958,974  
                 
            $ 6,712,719  
                 
Real Estate Management & Development — 1.5%
               
Forestar Real Estate Group, Inc.(1)
    226,449     $ 2,470,559  
                 
            $ 2,470,559  
                 
Semiconductors & Semiconductor Equipment — 4.0%
               
Cirrus Logic, Inc.(1)
    191,850     $ 2,827,869  
Cypress Semiconductor Corp.(1)
    164,320       2,459,870  
Integrated Device Technology, Inc.(1)
    214,190       1,103,079  
                 
            $ 6,390,818  
                 
Software — 3.2%
               
Mentor Graphics Corp.(1)
    284,680     $ 2,738,622  
Parametric Technology Corp.(1)
    160,440       2,467,567  
                 
            $ 5,206,189  
                 
Specialty Retail — 1.5%
               
Monro Muffler Brake, Inc. 
    73,330     $ 2,417,690  
                 
            $ 2,417,690  
                 
Thrifts & Mortgage Finance — 0.8%
               
BankUnited, Inc. 
    58,590     $ 1,216,328  
                 
            $ 1,216,328  
                 
                 
Total Common Stocks
(identified cost $156,043,959)
          $ 151,638,113  
                 
 
Short-Term Investments — 7.2%
 
                 
    Interest
 		       
Description   (000’s omitted)     Value  
Eaton Vance Cash Reserves Fund, LLC, 0.08%(2)
  $ 11,696     $ 11,696,140  
                 
                 
Total Short-Term Investments
(identified cost $11,696,140)
          $ 11,696,140  
                 
                 
Total Investments — 101.0%
(identified cost $167,740,099)
          $ 163,334,253  
                 
                 
Other Assets, Less Liabilities — (1.0)%
          $ (1,561,824 )
                 
                 
Net Assets — 100.0%
          $ 161,772,429  
                 
 
3

 

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
 
             
         
ADR
  -   American Depositary Receipt
         
(1)
      Non-income producing security.
         
(2)
      Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of September 30, 2011. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended September 30, 2011 was $9,276.
 
The Portfolio did not have any open financial instruments at September 30, 2011.
 
The cost and unrealized appreciation (depreciation) of investments of the Portfolio at September 30, 2011, as determined on a federal income tax basis, were as follows:
 
         
Aggregate cost
  $ 167,763,427  
         
Gross unrealized appreciation
  $ 15,809,380  
Gross unrealized depreciation
    (20,238,554 )
         
Net unrealized depreciation
  $ (4,429,174 )
         
 
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
 
  •   Level 1 — quoted prices in active markets for identical investments
 
  •   Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
 
  •   Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)
 
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
 
At September 30, 2011, the hierarchy of inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:
 
                                 
Asset Description   Level 1     Level 2     Level 3     Total  
   
Common Stocks
  $ 151,638,113     $ —     $ —     $ 151,638,113  
Short-Term Investments
    —       11,696,140       —       11,696,140  
 
 
Total Investments
  $ 151,638,113     $ 11,696,140     $ —     $ 163,334,253  
 
 
 
The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.
 
The Portfolio held no investments or other financial instruments as of December 31, 2010 whose fair value was determined using Level 3 inputs. At September 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the fiscal year to date then ended was not significant.
 
For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.
 
4

 

Item 2. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

 

 

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.
Small-Cap Portfolio
         
By:
  /s/ Nancy B. Tooke
 
Nancy B. Tooke
President 		   
 
Date:
  November 23, 2011    
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/ Nancy B. Tooke
 
Nancy B. Tooke
President 		   
 
        
Date:
  November 23, 2011    
 
        
By:
  /s/ Barbara E. Campbell
 
Barbara E. Campbell
Treasurer 		   
 
        
Date:
  November 23, 2011    

 

EX-99.CERT 2 b88906a1exv99wcert.htm EX-99.CERT SECTION 302 CERTIFICATION EX-99.CERT Section 302 Certification
Small-Cap Portfolio
Certification
Pursuant to Rule 302 of the Sarbanes-Oxley Act of 2003
I, Nancy B. Tooke, certify that:
1. I have reviewed this report on Form N-Q of Small-Cap Portfolio;
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 being 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 officers 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.
         
By:
  /s/ Nancy B. Tooke
 
Nancy B. Tooke
President 		   
 
        
Date:
  November 23, 2011    

 

 

Small-Cap Portfolio
Certification
Pursuant to Rule 302 of the Sarbanes-Oxley Act of 2003
I, Barbara E. Campbell, certify that:
1. I have reviewed this report on Form N-Q of Small-Cap Portfolio;
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 being 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 officers 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.
         
By:
  /s/ Barbara E. Campbell
 
Barbara E. Campbell
Treasurer 		   
 
        
Date:
  November 23, 2011