0001193125-12-248888.txt : 20120525 0001193125-12-248888.hdr.sgml : 20120525 20120525142025 ACCESSION NUMBER: 0001193125-12-248888 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20120331 FILED AS OF DATE: 20120525 DATE AS OF CHANGE: 20120525 EFFECTIVENESS DATE: 20120525 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: 12870671 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 d351345dnq.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

March 31, 2012

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Small-Cap Portfolio

March 31, 2012

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 96.4%

 

N(000.000.000 N(000.000.000
Security    Shares      Value  

Aerospace & Defense — 1.5%

      

Aerovironment, Inc.(1)

      121,050       $ 3,245,351   
     

 

 

  
      $ 3,245,351   
     

 

 

  

Building Products — 3.0%

      

Armstrong World Industries, Inc.

      66,180       $ 3,227,598   

Trex Co., Inc.(1)

      98,670         3,165,334   
     

 

 

  
      $ 6,392,932   
     

 

 

  

Capital Markets — 4.0%

      

HFF, Inc., Class A(1)

      99,100       $ 1,632,177   

Lazard, Ltd., Class A

      133,920         3,824,755   

Walter Investment Management Corp.

      143,905         3,245,058   
     

 

 

  
      $ 8,701,990   
     

 

 

  

Chemicals — 3.4%

      

Balchem Corp.

      110,310       $ 3,336,878   

LSB Industries, Inc.(1)

      103,360         4,022,771   
     

 

 

  
      $ 7,359,649   
     

 

 

  

Commercial Banks — 2.1%

      

Signature Bank(1)

      33,840       $ 2,133,274   

Texas Capital Bancshares, Inc.(1)

      71,550         2,477,061   
     

 

 

  
      $ 4,610,335   
     

 

 

  

Commercial Services & Supplies — 2.1%

      

Team, Inc.(1)

      145,391       $ 4,499,851   
     

 

 

  
      $ 4,499,851   
     

 

 

  

Communications Equipment — 1.5%

      

Sycamore Networks, Inc.(1)

      177,100       $ 3,141,754   
     

 

 

  
      $ 3,141,754   
     

 

 

  

Computers & Peripherals — 1.7%

      

Quantum Corp.(1)

      1,400,940       $ 3,670,463   
     

 

 

  
      $ 3,670,463   
     

 

 

  

Construction & Engineering — 1.5%

      

MYR Group, Inc.(1)

      187,250       $ 3,344,285   
     

 

 

  
      $ 3,344,285   
     

 

 

  

 

1

 

 

N(000.000.000 N(000.000.000
Security    Shares      Value  

Distributors — 1.9%

      

LKQ Corp.(1)

      132,730       $ 4,137,194   
     

 

 

  
      $ 4,137,194   
     

 

 

  

Electronic Equipment, Instruments & Components — 4.9%

      

Elster Group SE ADR(1)

      214,400       $ 3,389,664   

FEI Co.(1)

      74,150         3,641,507   

National Instruments Corp.

      125,795         3,587,673   
     

 

 

  
      $ 10,618,844   
     

 

 

  

Energy Equipment & Services — 2.2%

      

Hornbeck Offshore Services, Inc.(1)

      88,210       $ 3,707,466   

Poseidon Concepts Corp.

      72,510         1,019,189   
     

 

 

  
      $ 4,726,655   
     

 

 

  

Food Products — 1.8%

      

Corn Products International, Inc.

      65,650       $ 3,784,722   
     

 

 

  
      $ 3,784,722   
     

 

 

  

Health Care Equipment & Supplies — 3.5%

      

Analogic Corp.

      64,070       $ 4,327,288   

Orthofix International NV(1)

      83,240         3,128,159   
     

 

 

  
      $ 7,455,447   
     

 

 

  

Health Care Providers & Services — 4.8%

      

Catalyst Health Solutions, Inc.(1)

      51,027       $ 3,251,951   

ExamWorks Group, Inc.(1)

      231,688         2,877,565   

MEDNAX, Inc.(1)

      57,890         4,305,279   
     

 

 

  
      $ 10,434,795   
     

 

 

  

Household Products — 2.1%

      

Church & Dwight Co., Inc.

      91,690       $ 4,510,231   
     

 

 

  
      $ 4,510,231   
     

 

 

  

Insurance — 5.1%

      

Allied World Assurance Co. Holdings, Ltd.

      56,590       $ 3,886,035   

Hanover Insurance Group, Inc. (The)

      88,880         3,654,746   

HCC Insurance Holdings, Inc.

      113,520         3,538,418   
     

 

 

  
      $ 11,079,199   
     

 

 

  

IT Services — 1.7%

      

Euronet Worldwide, Inc.(1)

      176,310       $ 3,683,116   
     

 

 

  
      $ 3,683,116   
     

 

 

  
     

Life Sciences Tools & Services — 1.8%

      

Bruker Corp.(1)

      250,270       $ 3,831,634   
     

 

 

  
      $ 3,831,634   
     

 

 

  

 

2

 

 

N(000.000.000 N(000.000.000
Security    Shares      Value  

Machinery — 7.3%

      

Astec Industries, Inc.(1)

      94,314       $ 3,440,575   

Colfax Corp.(1)

      104,980         3,699,495   

RBC Bearings, Inc.(1)

      89,760         4,140,629   

Valmont Industries, Inc.

      38,620         4,534,374   
     

 

 

  
      $ 15,815,073   
     

 

 

  

Marine — 2.0%

      

Kirby Corp.(1)

      65,040       $ 4,278,982   
     

 

 

  
      $ 4,278,982   
     

 

 

  

Media — 1.8%

      

John Wiley & Sons, Inc., Class A

      81,380       $ 3,872,874   
     

 

 

  
      $ 3,872,874   
     

 

 

  

Metals & Mining — 3.2%

      

Compass Minerals International, Inc.

      44,870       $ 3,218,974   

Molycorp, Inc.(1)

      108,950         3,685,778   
     

 

 

  
      $ 6,904,752   
     

 

 

  

Multiline Retail — 3.8%

      

Big Lots, Inc.(1)

      88,650       $ 3,813,723   

Fred’s, Inc., Class A

      302,070         4,413,243   
     

 

 

  
      $ 8,226,966   
     

 

 

  

Oil, Gas & Consumable Fuels — 6.3%

      

Goodrich Petroleum Corp.(1)

      217,060       $ 4,128,481   

Kodiak Oil & Gas Corp.(1)

      339,160         3,378,034   

Petroleum Development Corp.(1)

      84,090         3,118,898   

SM Energy Co.

      43,530         3,080,618   
     

 

 

  
      $ 13,706,031   
     

 

 

  

Pharmaceuticals — 0.5%

      

Questcor Pharmaceuticals, Inc.(1)

      28,400       $ 1,068,408   
     

 

 

  
      $ 1,068,408   
     

 

 

  
     

Professional Services — 1.5%

      

FTI Consulting, Inc.(1)

      84,420       $ 3,167,438   
     

 

 

  
      $ 3,167,438   
     

 

 

  

Real Estate Investment Trusts (REITs) — 4.3%

      

American Campus Communities, Inc.

      77,740       $ 3,476,533   

Mid-America Apartment Communities, Inc.

      33,080         2,217,352   

PS Business Parks, Inc.

      55,199         3,617,743   
     

 

 

  
      $ 9,311,628   
     

 

 

  

 

3

 

 

N(000.000.000 N(000.000.000
Security    Shares      Value  

Real Estate Management & Development — 1.9%

      

Forestar Real Estate Group, Inc.(1)

      263,189       $ 4,050,479   
     

 

 

  
      $ 4,050,479   
     

 

 

  
     

Semiconductors & Semiconductor Equipment — 4.0%

      

Cirrus Logic, Inc.(1)

      225,250       $ 5,360,950   

Cypress Semiconductor Corp.(1)

      212,400         3,319,812   
     

 

 

  
      $ 8,680,762   
     

 

 

  

Software — 3.9%

      

Mentor Graphics Corp.(1)

      269,900       $ 4,010,714   

Parametric Technology Corp.(1)

      160,230         4,476,826   
     

 

 

  
      $ 8,487,540   
     

 

 

  

Specialty Retail — 5.3%

      

GNC Holdings, Inc., Class A

      143,090       $ 4,992,410   

Monro Muffler Brake, Inc.

      91,000         3,775,590   

Select Comfort Corp.(1)

      83,680         2,710,395   
     

 

 

  
      $ 11,478,395   
     

 

 

  

Total Common Stocks
(identified cost $175,018,239)

       $ 208,277,775   
     

 

 

  

Short-Term Investments — 2.7%

      
Description    Interest
(000’s omitted)		      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.09%(2)

    $ 5,762       $ 5,762,434   
     

 

 

  

Total Short-Term Investments
(identified cost $5,762,434)

       $ 5,762,434   
     

 

 

  

Total Investments — 99.1%
(identified cost $180,780,673)

       $ 214,040,209   
     

 

 

  

Other Assets, Less Liabilities — 0.9%

       $ 2,012,179   
     

 

 

  

Net Assets — 100.0%

       $ 216,052,388   
     

 

 

  

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 March 31, 2012. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended March 31, 2012 was $1,972.

 

4

 

 

The Portfolio did not have any open financial instruments at March 31, 2012.

The cost and unrealized appreciation (depreciation) of investments of the Portfolio at March 31, 2012, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $     180,917,147   
  

 

 

  

Gross unrealized appreciation

    $ 37,162,306   

Gross unrealized depreciation

      (4,039,244 ) 
  

 

 

  

Net unrealized appreciation

    $ 33,123,062   
  

 

 

  

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 March 31, 2012, 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

    $ 208,277,775 *    $ —       $ —       $ 208,277,775   

Short-Term Investments

      —        5,762,434         —         5,762,434   

Total Investments

    $     208,277,775      $     5,762,434       $ —       $     214,040,209   

 

* 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, 2011 whose fair value was determined using Level 3 inputs. At March 31, 2012, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.

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.

Subsequent Events

As of the close of business on April 30, 2012, the Eaton Vance Small-Cap Fund withdrew its entire interest in the Portfolio in cash and securities. On May 1, 2012, the Portfolio terminated.

 

5

 

 

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:   May 25, 2012

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:   May 25, 2012

 

By:   /s/ Barbara E. Campbell
  Barbara E. Campbell
  Treasurer
Date:   May 25, 2012

 

 EX-99.CERT 2 d351345dex99cert.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:   May 25, 2012

 

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:   May 25, 2012