N-Q 1 c09798nvq.txt QUARTERLY REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-02611 Van Kampen Exchange Fund (Exact name of registrant as specified in charter) 1221 Avenue of the Americas, New York, New York 10020 (Address of principal executive offices) (Zip code) Ronald Robison 1221 Avenue of the Americas, New York, New York 10020 (Name and address of agent for service) Registrant's telephone number, including area code: 212-762-4000 Date of fiscal year end: 12/31 Date of reporting period: 9/30/06 Item 1. Schedule of Investments. The Fund's schedule of investments as of the close of the reporting period prepared pursuant to Rule 12-12 of Regulation S-X is as follows: VAN KAMPEN EXCHANGE FUND PORTFOLIO OF INVESTMENTS SEPTEMBER 30, 2006 (UNAUDITED)
NUMBER OF DESCRIPTION SHARES VALUE COMMON STOCKS 94.0% AEROSPACE & DEFENSE 0.7% Honeywell International, Inc. 12,528 $ 512,395 ------------ ALUMINUM 0.7% Alcan, Inc. (Canada) 10,774 429,559 Novelis, Inc. (Canada) 2,154 55,121 ------------ 484,680 ------------ AUTO PARTS & EQUIPMENT 0.0% Dana Corp. (a) 13,677 14,224 ------------ COAL & CONSUMABLE FUELS 0.4% Massey Energy Corp. 12,831 268,681 ------------ COMMODITY CHEMICALS 0.0% Tronox, Inc., Class B 2,197 28,056 ------------ COMPUTER HARDWARE 1.8% International Business Machines Corp. 15,016 1,230,411 ------------ CONSTRUCTION & ENGINEERING 1.4% Fluor Corp. 12,831 986,576 ------------ DIVERSIFIED BANKS 1.5% HSBC Holdings PLC - ADR (United Kingdom) 11,434 1,046,554 ------------ FOREST PRODUCTS 0.7% Louisiana-Pacific Corp. 25,970 487,457 ------------ HEALTH CARE DISTRIBUTORS 0.2% Cardinal Health, Inc. 1,867 122,737 ------------ HEALTH CARE EQUIPMENT 0.7% Baxter International, Inc. 10,000 454,600 Edwards Lifesciences Corp. (a) 1,000 46,590 ------------ 501,190 ------------ HEALTH CARE SERVICES 0.5% Medco Health Solutions, Inc. (a) 6,075 365,168 ------------
INDUSTRIAL GASES 7.2% Air Products & Chemicals, Inc. 75,539 5,013,523 ------------ INDUSTRIAL MACHINERY 1.1% SPX Corp. 13,648 729,349 ------------ INTEGRATED OIL & GAS 15.0% BP PLC - ADR (United Kingdom) 33,876 2,221,588 Exxon Mobil Corp. 82,523 5,537,293 Hess Corp. 63,600 2,634,312 ------------ 10,393,193 ------------ MULTI-LINE INSURANCE 4.0% American International Group, Inc. 41,688 2,762,247 ------------ OFFICE SERVICES & SUPPLIES 1.7% IKON Office Solutions, Inc. 86,993 1,169,186 ------------ OIL & GAS DRILLING 0.3% Transocean, Inc. (Cayman Islands) (a) 3,113 227,965 ------------ OIL & GAS EQUIPMENT & SERVICES 7.9% Baker Hughes, Inc. 25,634 1,748,239 Halliburton Co. 60,640 1,725,208 Schlumberger, Ltd. (Netherlands Antilles) 32,160 1,994,885 ------------ 5,468,332 ------------ OIL & GAS EXPLORATION & PRODUCTION 2.4% Apache Corp. 26,346 1,665,067 ------------ PACKAGED FOODS & MEATS 5.3% McCormick & Co., Inc. 96,518 3,665,754 ------------ PHARMACEUTICALS 27.1% Johnson & Johnson 78,636 5,106,622 Merck & Co., Inc. 50,376 2,110,754 Pfizer, Inc. 184,471 5,231,598 Schering-Plough Corp. 156,022 3,446,526 Wyeth 56,000 2,847,040 ------------ 18,742,540 ------------ RESTAURANTS 0.2% Luby's Cafeterias, Inc. (a) 13,367 131,932 ------------ SEMICONDUCTORS 6.6% Intel Corp. 221,896 4,564,401 ------------ SPECIALIZED REIT'S 1.3% Plum Creek Timber Co., Inc. - REIT 25,602 871,492 ------------
SPECIALTY CHEMICALS 5.3% International Flavors & Fragrances, Inc. 49,712 1,965,612 Lubrizol Corp. 37,620 1,720,363 ------------ 3,685,975 ------------ TOTAL LONG-TERM INVESTMENTS 94.0% (Cost $6,059,832) 65,139,085 REPURCHASE AGREEMENT 6.1% State Street Bank & Trust Co. ($4,226,000 par collateralized by U.S. Government obligations in a pooled cash account, interest rate of 5.15%, dated 09/29/06, to be sold on 10/02/06 at $4,227,814) (Cost $4,226,000) 4,226,000 ------------ TOTAL INVESTMENTS 100.1% (Cost $10,285,832) 69,365,085 LIABILITIES IN EXCESS OF OTHER ASSETS (0.1%) (57,208) ------------ NET ASSETS 100.0% $ 69,307,877 ------------ Percentages are calculated as a percentage of net assets (a) Non-income producing security as this stock currently does not declare dividends ADR - American Depositary Receipt REIT - Real Estate Investment Trust
Item 2. Controls and Procedures. (a) The Fund's principal executive officer and principal financial officer have concluded that the Fund's disclosure controls and procedures are sufficient to ensure that information required to be disclosed by the Fund in this Form N-Q was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms, based upon such officers' evaluation of these controls and procedures as of a date within 90 days of the filing date of the report. (b) There were no changes in the Fund's internal control over financial reporting that occurred during the registrant's fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund's internal control over financial reporting. Item 3. Exhibits. (a) A certification for the Principal Executive Officer of the registrant is attached hereto as part of EX-99.cert. (b) A certification for the Principal Financial Officer of the registrant is attached hereto as part of EX-99.cert. 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) Van Kampen Exchange Fund By: /s/ Ronald E. Robison --------------------------------- Name: Ronald E. Robison Title: Principal Executive Officer Date: November 21, 2006 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ Ronald E. Robison --------------------------------- Name: Ronald E. Robison Title: Principal Executive Officer Date: November 21, 2006 By: /s/ James W. Garrett --------------------------------- Name: James W. Garrett Title: Principal Financial Officer Date: November 21, 2006