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| Report |
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| | | Registrant: Millennium Investment & Acquisition Co. Inc. — List all N-SARs |
| | | Annual Report for the 2nd-half period ended at fiscal year end: 12/31/18 |
| | | Were there any Answer File errors in the Filing? None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info |
| | | Is this an Amendment to a previous Report? No |
| | | Is this a change to a previous Report? No |
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| Registrant |
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| 1. | | SEC CIK: 1358656 |
| | | SEC File #: 811-22156 |
| | | Telephone #: 212-750-0371 |
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| 2. | | Address: 301 Winding Road |
| | | Old Bethpage, NY 11804 |
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| 3. | | Is this the first Form N-SAR filed by the Registrant? No |
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| 4. | | Is this the final Form N-SAR filed by the Registrant? No |
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| 7. | | Is the Registrant a Funds/Series (multiple portfolios) company? No |
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| Principal Underwriter |
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| 11.1 | | Name: Ladenburg, Thalman & Co. |
| | | SEC File #: 008-17230 |
| | | Location: New York, NY |
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| Shareholder Servicing/Transfer Agent |
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| 12.1 | | Name: American Stock Transfer & Trust Co. |
| | | SEC File #: 084-00416 |
| | | Location: New York, NY |
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| Independent Public Accountant |
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| 13.1 | | Name: Tait Weller |
| | | Location: Philadelphia, PA |
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| Custodian |
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| 15.1 | | Name: First National Bank of Omaha |
| | | Role: Custodian |
| | | Location: Omaha, NE |
| | | Type of custody: Section 17(f)(1) — Bank |
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| 18. | | Does the Registrant’s/Series’ Custodian(s) maintain some or all of the Registrant’s/Series’ securities in a central depository or book-entry system pursuant to Rule 17f-4? Yes |
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| Family of Investment Companies |
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| 19. | | Is the Registrant/Series part of a “family” of investment companies? No |
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| Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers |
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| 24. | | At period end, did the Registrant/Series hold any securities of the Registrant’s/Series’ regular brokers or dealers, or of the parents of such brokers or dealers, that derive more than 15% of gross revenue from securities-related activities? No |
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| Considerations which Affected the Participation of Brokers or Dealers |
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| 26. | | Considerations which affected the participation of brokers or dealers or other entities in commissions or other compensation paid on portfolio transactions of the Registrant:
Consideration? |
| | | Sales of the Registrant’s/Series’ shares ............................... No |
| | | Receipt of investment research and statistical info .................... No |
| | | Receipt of quotations for portfolio valuations ......................... No |
| | | Ability to execute portfolio transactions to obtain the best price and execution ........................................................ No |
| | | Receipt of telephone line and wire services ............................ No |
| | | Broker or Dealer which is an affiliated person ......................... No |
| | | An arrangement to return or credit part or all of commissions or profits thereon... To an Investment Adviser or Principal Underwriter, or to an affiliated person of either ...................................... No |
| | | To the Registrant .................................................. No |
| | | Other .................................................................. No |
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| Investment Company Type |
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| 27. | | Is the Registrant an “open-end” investment company? No, Closed-End |
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| Advisory Fee |
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| 45. | | Did the Registrant/Series have an advisory contract during the period? No |
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| Miscellaneous Info |
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| 55. | | Did the Registrant/Series have any of the following outstanding at any time during the period which exceeded 1% of aggregate net assets: |
| | | Overdrafts? No |
| | | Bank loans? No |
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| 56. | | During the period, did the Registrant’s/Series’ Investment Adviser(s) have advisory clients other than investment companies? No |
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| 57. | | Did the Registrant/Series adjust the number of its shares outstanding by means of a stock split or stock dividend? No |
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| Classification and Asset Allocation |
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| 58. | | Is the Registrant/Series a Separate Account of an insurance company? No |
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| 59. | | Is the Registrant/Series a management investment company? Yes |
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| 60. | | Was the Registrant/Series a diversified investment company at any time during the period? No |
| | | Was the Registrant/Series a diversified investment company at the end of the period? No |
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| 62. | | Does the Registrant/Series invest primarily in debt securities, including convertible debt securities, options & futures on debt securities or indices of debt securities? No |
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| 66. | | Is the Registrant/Series a Fund that usually invests in equity securities, options & futures on equity securities, indices of equity securities or securities convertible into equity securities? Yes |
| | | Which best describes its primary investment objective:
Aggressive capital appreciation? No |
| | | Capital appreciation? No |
| | | Growth? No |
| | | Growth and income? No |
| | | Income? No |
| | | Total return? Yes |
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| 67. | | Is the Registrant/Series a “balanced” Fund? No |
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| 68. | | Does the Registrant/Series have more than 50% of its net assets at period end invested in the securities of issuers... Engaged primarily in production or distribution of precious metals? No |
| | | Located primarily in countries other than the United States? Yes |
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| 69. | | Is the Registrant/Series an index Fund? No |
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| Investment Practices |
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| 70. | | Activities that are permitted by the Registrant’s/Series’ investment policies, and which were engaged in during the period:
Activity Permitted Engaged In |
| | | Writing or investing in repurchase agreements? Yes No |
| | | Writing or investing in options on equities? Yes No |
| | | Writing or investing in options on debt securities? Yes No |
| | | Writing or investing in options on stock indices? Yes No |
| | | Writing or investing in interest rate futures? Yes No |
| | | Writing or investing in stock index futures? Yes No |
| | | Writing or investing in options on futures? Yes No |
| | | Writing or investing in options on stock index futures? Yes No |
| | | Writing or investing in other commodity futures? Yes No |
| | | Investments in restricted securities? Yes No |
| | | Investments in shares of other investment companies? Yes No |
| | | Investments in securities of foreign issuers? Yes No |
| | | Currency exchange transactions? Yes No |
| | | Loaning portfolio securities? Yes No |
| | | Borrowing of money? Yes No |
| | | Purchases/sales by certain exempted affiliated persons? Yes No |
| | | Margin purchases? Yes No |
| | | Short selling? Yes No |
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| Portfolio Turnover |
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| 71. | | Portfolio turnover rate for the period: |
| | | Purchases ($000s): 0 |
| | | Sales ($000s): 0 |
| | | Monthly average Value of portfolio ($000s): 0 |
| | | Percent turnover (lesser of Purchases or Sales, divided by Value): 0% |
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| Financial Info — Income and Expenses |
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| 72. | | The number of months covered by the values in Items 72 and 73: 12 |
| | | Income ($000s) Net interest income .............................................. | – |
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| | | Net dividend income .............................................. | 159 |
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| | | Account maintenance fees ......................................... | – |
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| | | Net other income ................................................. | 12 |
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| | | Expenses ($000s) Advisory fees .................................................... | – |
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| | | Administrator fees ............................................... | – |
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| | | Salaries and other compensation .................................. | 120 |
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| | | Shareholder Servicing Agent fees ................................. | 83 |
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| | | Custodian fees ................................................... | – |
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| | | Postage .......................................................... | – |
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| | | Printing expenses ................................................ | – |
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| | | Directors’ fees .................................................. | 8 |
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| | | Registration fees ................................................ | – |
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| | | Taxes ............................................................ | 30 |
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| | | Interest ......................................................... | – |
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| | | Bookkeeping fees paid to anyone performing this service .......... | – |
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| | | Auditing fees .................................................... | – |
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| | | Legal fees ....................................................... | – |
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| | | Marketing/distribution payments, incl. Rule 12b-1 plan payments .. | – |
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| | | Amortization of organization expenses ............................ | – |
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| | | Shareholder meeting expenses ..................................... | – |
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| | | Other expenses ................................................... | 63 |
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| | | Total expenses ................................................... | 304 |
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| | | Expense reimbursements ($000s): 0 |
| | | Net investment income ($000s): -133 |
| | | Realized capital gains ($000s): 0 |
| | | Realized capital losses ($000s): 0 |
| | | Net unrealized appreciation during the period ($000s): 0 |
| | | Net unrealized depreciation during the period ($000s): 2,110 |
| | | Total income dividends for which the record date passed during the period ($000s): 0 |
| | | Total capital gains distributions for which the record date passed during the period ($000s): 0 |
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| 73. | | Distributions per share for which the record date passed during the period, shown in fractions of a cent, if so declared:
Dividends from net investment income: $0 |
| | | Distribution of capital gains: $0 |
| | | Other distributions: $0 |
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| Financial Info — Condensed Balance Sheet Data |
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| 74. | | Assets ($000s) |
| | | Cash ............................................................. | 528 |
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| | | Repurchase agreements ............................................ | – |
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| | | Short-term debt securities, other than repurchase agreements ..... | – |
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| | | Long-term debt securities, including convertible debt ............ | – |
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| | | Preferred, conv. preferred and adjustable-rate preferred stock ... | – |
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| | | Common stock ..................................................... | 14,151 |
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| | | Options on equities .............................................. | – |
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| | | Options on all futures ........................................... | – |
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| | | Other investments ................................................ | – |
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| | | Receivables from portfolio instruments sold ...................... | – |
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| | | Receivables from affiliated persons .............................. | – |
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| | | Other receivables ................................................ | – |
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| | | All other assets ................................................. | 17,715 |
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| | | Total assets ..................................................... | 32,394 |
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| | | Liabilities ($000s) Payables for portfolio instruments purchased ..................... | – |
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| | | Amounts owed to affiliated persons ............................... | – |
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| | | Senior long-term debt ............................................ | – |
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| | | Other liabilities: Reverse repurchase agreements .................................. | – |
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| | | Short sales .................................................... | – |
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| | | Written options ................................................ | – |
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| | | All other liabilities .......................................... | – |
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| | | Equity ($000s) Senior equity .................................................... | – |
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| | | Net assets of common shareholders ................................ | – |
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| | | Number of shares outstanding (000s): 10,960 |
| | | Net Asset Value (NAV) per share (to nearest cent): $2.88 |
| | | Total number of shareholder accounts: 0 |
| | | Total value of assets in segregated accounts ($000s): 0 |
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| 75. | | Monthly average net assets during the period ($000s): 33,670 |
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| 76. | | Market price per share at period end: $0.70 |
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| Subsidiaries |
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| 78. | | Does the Registrant have any wholly-owned investment company subsidiaries whose operating and financial data are consolidated with that of the Registrant in this Report? Yes |
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| Fidelity Bond in Effect at Fiscal Year End |
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| 80. | | Insurer: Great American Insurance Co. |
| | | Aggregate face amount of coverage for the Registrant/Series on all bonds on which it is named as an insured ($000s): 400 |
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| 81. | | Is the bond part of a joint fidelity bond(s) shared with other investment companies or other entities? No |
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| 82. | | Does the mandatory coverage of the fidelity bond have a deductible? No |
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| 83. | | Were any claims with respect to this Registrant/Series filed under the bond during the period? No |
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| 84. | | Were any losses incurred with respect to this Registrant/Series that could have been filed as a claim under the fidelity bond but were not? No |
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| 85. | | Are the Registrant’s/Series’ Officers and Directors covered as Officers and Directors of the Registrant/Series under any errors and omissions insurance policy owned by the Registrant/Series or anyone else? Yes |
| | | Were any claims filed under such policy during the period with respect to the Registrant/Series? No |
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| Sales, Repurchases and Redemptions |
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| 86. | | Sales, repurchases and redemptions of the Registrant’s securities: |
| | | Common Stock Sales: Number of shares (000s): 0 |
| | | Net consideration received ($000s): 0 |
| | | Repurchases: Number of shares (000s): 0 |
| | | Net consideration paid ($000s): 0 |
| | | Preferred Stock Sales: Number of shares (000s): 0 |
| | | Net consideration received ($000s): 0 |
| | | Repurchases and redemptions: Number of shares (000s): 0 |
| | | Net consideration paid ($000s): 0 |
| | | Debt Securities Sales: Principal amount ($000s): 0 |
| | | Net consideration received ($000s): 0 |
| | | Repurchases and redemptions: Principal amount ($000s): 0 |
| | | Net consideration paid ($000s): 0 |
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| Securities Outstanding |
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| 87. | | Securities of the Registrant that are registered on a national securities exchange or listed on Nasdaq: |
| | | Title of class: Millennium Investment & Acquisition Co. |
| | | CUSIP/CINS: 60039Q·10·1 |
| | | Symbol: MILC |
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| 88. | | A3? ........ No |
| | | B3? ........ No |
| | | C3? ........ No |
| | | D3? ........ No |
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Series 1 | ↑List of Funds/Series Reported Here |
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| 7. | | Is this the final Form N-SAR filed for this Fund/Series? No |
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Signature | | ↑Top of Form N-SAR |
| | | |
| | | /s/ David H. Lesser |
| | | Name: David H. Lesser |
| | | Title: Chairman, CEO |