N-Q 1 nq.htm CREDIT SUISSE Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-5041         

        Credit Suisse Capital Appreciation Fund        
(Exact name of registrant as specified in charter)

c/o Credit Suisse Asset Management, LLC
        466 Lexington Avenue, New York, New York 10017       
(Address of principal executive offices) (Zip code)


J. Kevin Gao
        466 Lexington Avenue, New York, New York 10017          
(Name and address of agent for service)

Registrant's telephone number, including area code:         212-875-3500        

Date of fiscal year-end:            October 31st          

Date of reporting period:          November 1, 2005 to January 31, 2006         

 

Item 1. Schedule of Investments

  Credit Suisse Capital Appreciation Fund
Schedule of Investments
January 31, 2006 (unaudited)
    Number of       
    Shares       Value 
COMMON STOCKS (97.9%)           
Aerospace & Defense (7.0%)           
     Boeing Co.    91,800    $  6,270,858 
     L-3 Communications Holdings, Inc.    27,000      2,187,540 
     Precision Castparts Corp.    126,600      6,323,670 
     United Technologies Corp.    104,900      6,123,013 
          20,905,081 
Banks (2.2%)           
     Hudson City Bancorp, Inc.    239,900      2,979,558 
     Northern Trust Corp.    66,900      3,492,849 
          6,472,407 
Beverages (1.5%)           
     Coca-Cola Co.    110,200      4,560,076 
Biotechnology (2.9%)           
     Genentech, Inc.*    61,900      5,318,448 
     Genzyme Corp.*    46,800      3,319,992 
          8,638,440 
Chemicals (3.3%)           
     Chemtura Corp.    208,100      2,615,817 
     Monsanto Co.    83,500      7,064,935 
          9,680,752 
Communications Equipment (6.1%)           
     Avaya, Inc.*§    133,600      1,409,480 
     Comverse Technology, Inc.*    172,800      4,732,992 
     Corning, Inc.*    416,000      10,129,600 
     Motorola, Inc.    77,900      1,769,109 
          18,041,181 
Computers & Peripherals (2.1%)           
     Apple Computer, Inc.*    82,400      6,222,024 
Diversified Financials (4.9%)           
     American Express Co.    86,600      4,542,170 
     Capital One Financial Corp.    63,200      5,264,560 
     SLM Corp.    82,000      4,588,720 
          14,395,450 
Electronic Equipment & Instruments (2.7%)           
     Broadcom Corp. Class A*    66,900      4,562,580 
     Roper Industries, Inc.    84,400      3,405,540 
          7,968,120 
Energy Equipment & Services (4.9%)           
     Bonneville Pacific Corp.*^    16,883      127 
     Grant Prideco, Inc.*    102,300      5,124,207 
     Halliburton Co.    43,200      3,436,560 
     Smith International, Inc.    83,900      3,775,500 
     Weatherford International, Ltd.*    51,000      2,283,780 
          14,620,174 

    Number of       
    Shares       Value 
Food & Drug Retailing (1.6%)           
     CVS Corp.    166,000    $  4,608,160 
Food Products (1.0%)           
     Wm. Wrigley Jr. Co.    45,000      2,878,200 
Healthcare Equipment & Supplies (4.3%)           
     Dade Behring Holdings, Inc.    177,700      6,953,401 
     St. Jude Medical, Inc.*    121,200      5,954,556 
          12,907,957 
Healthcare Providers & Services (5.4%)           
     Aetna, Inc.    35,400      3,426,720 
     Omnicare, Inc.    38,100      1,893,570 
     UnitedHealth Group, Inc.    68,700      4,082,154 
     WellPoint, Inc.*    87,900      6,750,720 
          16,153,164 
Hotels, Restaurants & Leisure (4.0%)           
     Carnival Corp.    54,200      2,805,392 
     Cheesecake Factory, Inc.*§    42,000      1,547,700 
     Penn National Gaming, Inc.*    91,700      2,943,570 
     Starbucks Corp.*    147,600      4,678,920 
          11,975,582 
Household Products (2.1%)           
     Procter & Gamble Co.    104,400      6,183,612 
Insurance (2.9%)           
     American International Group, Inc.    56,500      3,698,490 
     Genworth Financial, Inc. Class A    145,600      4,769,856 
          8,468,346 
Internet & Catalog Retail (1.6%)           
     eBay, Inc.*    107,600      4,637,560 
Internet Software & Services (3.4%)           
     Google, Inc. Class A*    9,200      3,985,900 
     VeriSign, Inc.*    141,000      3,348,750 
     Yahoo!, Inc.*    81,100      2,784,974 
          10,119,624 
IT Consulting & Services (2.8%)           
     CACI International, Inc. Class A*    59,200      3,380,320 
     NAVTEQ Corp.*    108,800      4,886,208 
          8,266,528 
Machinery (1.0%)           
     Deere & Co.    39,900      2,863,224 
Media (2.9%)           
     E.W. Scripps Co. Class A    44,400      2,146,296 
     Getty Images, Inc.*§    39,700      3,241,505 
     Univision Communications, Inc. Class A*§    104,500      3,327,280 
          8,715,081 
Multiline Retail (1.3%)           
     Kohl’s Corp.*    88,500      3,928,515 

    Number of       
    Shares           Value  
Oil & Gas (3.2%)           
     Newfield Exploration Co.*    50,200    $  2,630,480  
     XTO Energy, Inc.    141,866      6,962,783  
          9,593,263  
Pharmaceuticals (7.7%)           
     Barr Pharmaceuticals, Inc.*    64,600      4,236,468  
     Forest Laboratories, Inc.*    119,900      5,548,972  
     Johnson & Johnson    94,000      5,408,760  
     Medco Health Solutions, Inc.*    56,200      3,040,420  
     Wyeth    97,000      4,486,250  
          22,720,870  
Semiconductor Equipment & Products (1.7%)           
     Applied Materials, Inc.    77,200      1,470,660  
     Maxim Integrated Products, Inc.    90,000      3,693,600  
          5,164,260  
Software (9.3%)           
     Adobe Systems, Inc.*    165,782      6,584,861  
     Electronic Arts, Inc.*    61,100      3,334,838  
     Microsoft Corp.    469,100      13,205,165  
     Salesforce.com, Inc.*§    109,500      4,494,975  
          27,619,839  
Specialty Retail (2.3%)           
     Best Buy Company, Inc.    38,400      1,945,344  
     Home Depot, Inc.    123,500      5,007,925  
          6,953,269  
Tobacco (1.0%)           
     Altria Group, Inc.    39,000      2,821,260  
Wireless Telecommunication Services (0.8%)           
     American Tower Corp. Class A*    81,400      2,518,516  
TOTAL COMMON STOCKS (Cost $226,732,897)          290,600,535  
SHORT TERM INVESTMENTS (6.4%)       
 
     State Street Navigator Prime Fund§§    12,669,720      12,669,720  
Par
(000)
     State Street Bank and Trust Co. Euro Time Deposit, 3.350%, 2/01/06        $   6,337      6,337,000  
TOTAL SHORT TERM INVESTMENTS (Cost $19,006,720)          19,006,720  
TOTAL INVESTMENTS AT VALUE (104.3%) (Cost $245,739,617)          309,607,255  
LIABILITIES IN EXCESS OF OTHER ASSETS (-4.3%)          (12,717,966 ) 
NET ASSETS (100.0%)        $  296,889,289  

*    Non-income producing security. 
^    Not readily marketable security; security is valued at fair value as determined in good faith by, or under the direction of, the Board of Trustees.  
§    Security or portion thereof is out on loan. 
§§    Represents security purchased with cash collateral received for securities on loan. 

Security Valuation – The net asset value of the Fund is determined daily as of the close of regular trading on the New York Stock Exchange, Inc. (the "Exchange") on each day the Exchange is open for business. The Fund's equity investments are valued at market value, which is generally determined using the closing price on the exchange or market on which the security is primarily traded at the time of valuation (the "Valuation Time").  If no sales are reported, equity investments are generally valued at the most recent bid quotation as of the Valuation Time or at the lowest asked quotation in the case of a short sale of securities. Debt securities with a remaining maturity greater than 60 days are valued in accordance with the price supplied by a pricing service, which may use a matrix, formula or other objective method that takes into consideration market indices, yield curves and other specific adjustments. Debt obligations that will mature in 60 days or less are valued on the basis of amortized cost, which approximates market value, unless it is determined that using this method would not represent fair value. Investments in mutual funds are valued at the mutual fund’s closing net asset value per share on the day of valuation. Securities and other assets for which market quotations are not readily available, or whose values have been materially affected by events occurring before the Fund’s Valuation Time but after the close of the securities’ primary markets, are valued at fair value as determined in good faith by, or under the direction of, the Board of Trustees under procedures established by the Board of Trustees. The Fund may utilize a service provided by an independent third party which has been approved by the Board of Trustees to fair value certain securities. When fair-value pricing is employed, the price of securities used by a fund to calculate its net asset value may differ from quoted or published prices for the same securities.

Federal Income Tax Cost – At January 31, 2006, the identified cost for federal income tax purposes, as well as the gross unrealized appreciation from investments for those securities having an excess of value over cost, gross unrealized depreciation from investments for those securities having an excess of cost over value and the net unrealized appreciation from investments were $245,739,617, $68,153,670, $(4,286,032) and $63,867,638, respectively.

Other information regarding the Fund is available in the Fund’s most recent Report to Shareholders. This information is also available on the Fund’s website at www.credit-suisse.com/us as well as on the website of the Securities and Exchange Commission – http://www.sec.gov.

Item 2. Controls and Procedures.

    (a)  As of a date within 90 days from the filing date of this report, the principal executive officer and principal financial officer concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")), were effective based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities and Exchange Act of 1934.

    (b)  There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

  1. The certifications of the registrant as required by Rule 30a-2(a) under the Act are exhibits to this report.


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)         Credit Suisse Capital Appreciation Fund        

/s/ Steven Plump
Name: Steven Plump
Title: Chief Executive Officer 
Date:  March 31, 2006

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.

/s/ Steven Plump
Name: Steven Plump
Title: Chief Executive Officer 
Date:  March 31, 2006 

/s/ Michael A. Pignataro
Name: Michael A. Pignataro
Title: Chief Financial Officer 
Date:  March 31, 2006