X0201 3 2003-10-15 0 0001210679 ADVISORY HEDGED OPPORTUNITY FUND none 0001266410 KREKELBERG JOSEPH 813 AXP FINANCIAL CENTER MINNEAPOLIS MN 55474 0 1 0 0 Treasurer Shares of Beneficial Interest 0 D /s/ Kimberly Dopkin Rasevic, by power of attorney 2003-10-15