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Fidelity Advisor Series I – ‘NSAR-BT’ for 7/31/08

On:  Friday, 9/26/08, at 4:25pm ET   ·   Effective:  9/26/08   ·   For:  7/31/08   ·   Accession #:  878467-8-70   ·   File #:  811-03785

Previous ‘NSAR-BT’:  ‘NSAR-BT’ on 11/28/06 for 9/30/06   ·   Next & Latest:  ‘NSAR-BT/A’ on 11/29/11 for 9/30/11

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 9/26/08  Fidelity Advisor Series I         NSAR-BT     7/31/08    7:102K                                   Empire Fidelity Invs … AFidelity Advisor Leveraged Co. Stock Fund Class A (FLSAX) — Class B (FLCBX) — Class C (FLSCX) — Class I (FLVIX) — Class M (FLSTX)

Annual-Transition Report by an Investment Company   —   Form N-SAR   —   ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-BT     Answer File                                           20     82K 
 3: EX-99.77B ACCT LTTR  Audit Letter                               HTML      9K 
 4: EX-99.77C VOTES  Voting Results                                 HTML     17K 
 5: EX-99.77Q1 OTHR EXHB  Research Agreement                        HTML     18K 
 6: EX-99.77Q1 OTHR EXHB  Sub Advisor Agreement                     HTML     22K 
 2: EX-99.77Q1 OTHR EXHB  Sub Research Agreement                    HTML     19K 
 7: EX-99.77Q1 OTHR EXHB  Sub Research Agreement                    HTML     19K 


‘NSAR-BT’   —   Answer File




SEC Info rendering:  Data from the Answer File, which may only contain updates to a prior Form N-SAR


Form N-SAR
 
Annual-Transition Report by an Open-End Investment Company
 
Report 
 
      Registrant:   Fidelity Advisor Series IList all N-SARs

Annual Report for the 2nd-half period ended at fiscal year end:  7/31/08
Is this a Transition Report?  Yes

Were there any Answer File errors in the Filing?  None Found
Was the Answer File completed by the Registrant?  Yes

Is this an Amendment to a previous Report?  No
Is this a change to a previous Report?      No
 
Registrant 
 
 1.SEC CIK:      722574
SEC File #:   811-03785

Telephone #:  603-791-7481
 
 2.Address:      82 Devonshire Street
              Boston, MA  02109
 
 3.Is this the first Form N-SAR filed by the Registrant?  No
 
 4.Is this the final Form N-SAR filed by the Registrant?  No
 
 
Funds/Series Top of Form N-SAR 
                                                                                    
 7.Is the Registrant a Funds/Series (multiple portfolios) company?  Yes

The number of separate Funds/Series (portfolios) at period end:  15
The number of separate Funds/Series (portfolios) reported here: 1...

N-SAR S#      Fund/Series — Filings for F/S#… Symbols 
 
Information Common to All 
Series 16:    Fidelity Advisor Leveraged Co. Stock FundS#5113  FLSAX & 4 more
 
Family of Investment Companies 
 
19.Is the Registrant/Series part of a “family” of investment companies?  Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family:  393

The Identification Code of the family for Form N-SAR Filings:  FIDELITYZZ
 
Investment Company Type 
 
27.Is the Registrant an “open-end” investment company?  Yes, Open-End
 
Additional Disclosures 
 
77.Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
Exhibits in this Filing — or separately and incorporated by reference)?  Yes

EX-99.77B:  Accountant’s Report re: Internal ControlsYes

EX-99.77C:  Matters Submitted to a Vote of Security HoldersYes

EX-99.77Q1: Other DisclosureYes
 
Subsidiaries 
 
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?  No
 
 All SeriesList of Funds/Series Reported Here 

Information Common to All Funds/Series
 
 All: Principal Underwriter 
 
11.1Name:         Fidelity Distributors Corp.
SEC File #:   008-08775
Location:     Boston, MA
 
 All: Affiliated Broker/Dealer 
 
14.1Name:         Fidelity Distributors Corp.
SEC File #:   008-08775
 
14.2Name:         Fidelity Brokerage Services LLC
SEC File #:   008-23292
 
14.3Name:         National Financial Services LLC
SEC File #:   008-26740
 
14.4Name:         Fidelity Investments Canada Ltd.
 
14.5Name:         Fidelity Brokerage Services Japan LLC
 
 All: Custodian 
 
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
 
 All: Brokerage Commissions Paid on Portfolio Transactions 
 
20.The brokers who received the largest amount of gross brokerage
commissions during the period:
 
20.1Broker:       Lehman Brothers, Inc.
IRS #:        13-2933198
Commissions paid ($000s)250
 
20.2Broker:       Merrill Lynch & Co., Inc.
IRS #:        13-2740599
Commissions paid ($000s)208
 
20.3Broker:       Goldman Sachs & Co.
IRS #:        13-5108880
Commissions paid ($000s)194
 
20.4Broker:       UBS Securities LLC
IRS #:        13-3873456
Commissions paid ($000s)191
 
20.5Broker:       Credit Suisse First Boston (USA), Inc.
IRS #:        13-5659485
Commissions paid ($000s)183
 
20.6Broker:       JPMorgan Securities, Inc.
IRS #:        13-3224016
Commissions paid ($000s)156
 
20.7Broker:       Morgan Stanley & Co.
IRS #:        13-2655998
Commissions paid ($000s)121
 
20.8Broker:       Deutsche Bank AG
IRS #:        36-6843535
Commissions paid ($000s)119
 
20.9Broker:       Citigroup Global Markets Holdings, Inc.
IRS #:        04-3531811
Commissions paid ($000s)118
 
20.10Broker:       Liquidnet Holdings, Inc.
IRS #:        45-0404698
Commissions paid ($000s)92
 
21.Total brokerage commissions paid by the Registrant during the period:
  Aggregate paid ($000s)2,222
 
 All: Portfolio Transactions with Entities Acting as Principals 
 
22.The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
 
22.1Entity:       Fidelity Cash Central Fund
IRS #:        04-3331103
Registrant’s purchases ($000s)904,927
Registrant’s sales ($000s)759,378
 
22.2Entity:       JPMorgan Chase & Co.
IRS #:        13-3224016
Registrant’s purchases ($000s)83,742
Registrant’s sales ($000s)7,845
 
22.3Entity:       Lehman Brothers Holdings, Inc.
IRS #:        13-2933198
Registrant’s purchases ($000s)58,835
Registrant’s sales ($000s)2,176
 
22.4Entity:       Deutsche Bank AG
IRS #:        36-6843535
Registrant’s purchases ($000s)32,104
Registrant’s sales ($000s)2,105
 
22.5Entity:       Goldman Sachs Group, Inc.
IRS #:        13-5108880
Registrant’s purchases ($000s)18,555
Registrant’s sales ($000s)5,566
 
22.6Entity:       Citigroup, Inc.
IRS #:        04-3531811
Registrant’s purchases ($000s)49,235
 
22.7Entity:       Washington Mutual Inc.
IRS #:        91-1653725
Registrant’s purchases ($000s)30,838
 
22.8Entity:       Merrill Lynch & Co., Inc.
IRS #:        13-2740599
Registrant’s purchases ($000s)24,933
 
22.9Entity:       Wachovia Corp.
IRS #:        56-1433204
Registrant’s purchases ($000s)23,849
 
22.10Entity:       Fidelity Disciplined Equity Fund
IRS #:        04-3032268
Registrant’s purchases ($000s)22,628
 
23.Total purchase/sale transactions by the Registrant during the period:
   Aggregate purchases ($000s)1,745,884
   Aggregate sales ($000s)789,463
 
 All: Considerations which Affected the Participation of Brokers or Dealers 
 
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 ....................  Yes
Receipt of quotations for portfolio valuations .........................  No
Ability to execute portfolio transactions to obtain the best price
  and execution ........................................................  Yes
Receipt of telephone line and wire services ............................  Yes
Broker or Dealer which is an affiliated person .........................  Yes
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 ..................................................  Yes
Other ..................................................................  No
 
 All: Advisory Fee 
 
54.Indicated below are whether services were supplied or paid for wholly or
in substantial part by Investment Adviser(s) or Administrator(s) in
connection with the advisory or administrative contract(s) but for which
the Adviser(s) or Administrator(s) are not reimbursed by the Registrant:

Provided to the Registrant?
Occupancy and office rental ............................................  Yes
Clerical and bookkeeping services ......................................  Yes
Accounting services ....................................................  No
Services of independent auditors .......................................  No
Services of outside counsel ............................................  No
Registration and filing fees ...........................................  No
Stationery, supplies and printing ......................................  Yes
Salaries & compensation of Registrant’s interested Directors ...........  Yes
Salaries & compensation of Registrant’s disinterested Directors ........  No
Salaries & compensation of Registrant’s Officers who aren’t Directors ..  Yes
Reports to current shareholders ........................................  Yes
Determination of offering and redemption prices ........................  No
Trading department .....................................................  Yes
Prospectus preparation and printing for current shareholders ...........  Yes
Other ..................................................................  Yes
 
 All: Fidelity Bond in Effect at Fiscal Year End 
 
80.Insurer:      AMERICAN INT’l SPECIALTY LINES INSURANCE CO.
2nd Insurer:  Federal Insurance Co.

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s)270,000
 
81.Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities?  Yes

How many other investment companies or other entities are covered by the
bond (counting each Fund/Series as a separate investment company):  378
 
82.Does the mandatory coverage of the fidelity bond have a deductible?  Yes

The amount of the deductible ($000s)400
 
83.Were any claims with respect to this Registrant/Series filed under the
bond during the period?  No
 
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
 
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
 
 Series 16Information Common to All Funds/Series  List of Funds/Series 
 
 7.Name:         Fidelity Advisor Leveraged Co. Stock FundS#5113  FLSAX & 4 more

Is this the final Form N-SAR filed for this Fund/Series?  No
 
 S16: Investment Adviser 
 
 8.1Name:         Fidelity Management & Research Co. (FMR)
Role:         Adviser
SEC File #:   801-07884
Location:     Boston, MA
 
 8.2Name:         Fidelity Management & Research (U.K.), Inc.
Role:         Sub-Adviser
SEC File #:   801-28773
Location:     London
              England
 
 8.3Name:         Fidelity Research & Analysis Co. (Frac)
Role:         Sub-Adviser
SEC File #:   801-28774
Location:     Boston, MA
 
 8.4Name:         Fidelity Investments Japan Ltd. (Fij)
Role:         Sub-Adviser
Location:     Tokyo
              Japan
 
 8.5Name:         FMR Co., Inc.
Role:         Sub-Adviser
SEC File #:   801-03447
Location:     Boston, MA
 
 8.6Name:         Fidelity Intl Investment Advisors, Inc. (Fiia)
Role:         Sub-Adviser
Location:     Pembroke
              Bermuda
 
 8.7Name:         Fidelity Intl Investment Advisors (U.K.) Ltd.
Role:         Sub-Adviser
Location:     London
              England
 
 S16: Shareholder Servicing/Transfer Agent 
 
12.1Name:         Fidelity Investments Instit. Operations Co.
SEC File #:   084-01839
Location:     Boston, MA
 
 S16: Independent Public Accountant 
 
13.1Name:         Pricewaterhousecoopers LLP
Location:     Boston, MA
 
 S16: Custodian 
 
15.1Name:         JPMorgan Chase Bank
Role:         Custodian
Location:     New York, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.2Name:         The Bank of New York Co., Inc.
Role:         Custodian
Location:     New York, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.3Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     New York, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.4Name:         HSBC Bank Argentina S.A.
Role:         Sub-Custodian
Location:     Buenos Aires
              Argentina

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.5Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     Sydney
              Australia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.6Name:         Bank Austria Creditanstalt AG
Role:         Sub-Custodian
Location:     Vienna
              Austria

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.7Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Al Seef
              Bahrain

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.8Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Dhaka
              Bangladesh

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.9Name:         Fortis Bank (Nederland) N.V.
Role:         Sub-Custodian
Location:     Amsterdam
              Belgium

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.10Name:         The Bank of Bermuda Ltd.
Role:         Sub-Custodian
Location:     Hamilton
              Bermuda

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.11Name:         Barclays Bank of Botswana Ltd.
Role:         Sub-Custodian
Location:     Gaborone
              Botswana

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.12Name:         HSBC Bank Brasil S.A. Banco Multiplo
Role:         Sub-Custodian
Location:     Sao Paulo
              Brazil

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.13Name:         ING Bank N.V.
Role:         Sub-Custodian
Location:     Sofia
              Bulgaria

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.14Name:         Canadian Imperial Bank of Commerce
Role:         Sub-Custodian
Location:     Toronto
              Canada

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.15Name:         Royal Bank of Canada
Role:         Sub-Custodian
Location:     Toronto
              Canada

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.16Name:         Banco De Chile
Role:         Sub-Custodian
Location:     Santiago
              Chile

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.17Name:         HSBC Bank (China) Co. Ltd.
Role:         Sub-Custodian
Location:     Shanghai
              China

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.18Name:         Santander Investment Trust Colombia S.A.
Role:         Sub-Custodian
Location:     Bogota
              Colombia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.19Name:         Privredna Banka Zagreb D.D.
Role:         Sub-Custodian
Location:     Zagreb
              Croatia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.20Name:         Unicredit Bank Czech Republic A.S.
Role:         Sub-Custodian
Location:     Prague
              Czech Republic

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.21Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Ho Chi Minh City
              Vietnam

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.22Name:         Danske Bank A/S
Role:         Sub-Custodian
Location:     Copenhagen
              Denmark

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.23Name:         Marfin Popular Bank Public Co. Ltd.
Role:         Sub-Custodian
Location:     Nicosia
              Cyprus

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.24Name:         Hansabank
Role:         Sub-Custodian
Location:     Tallinn
              Estonia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.25Name:         Skandinaviska Enskilda Banken AB (Publ)
Role:         Sub-Custodian
Location:     Helsinki
              Finland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.26Name:         BNP Paribas Securities Services S.A.
Role:         Sub-Custodian
Location:     Paris
              France

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.27Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     Caracas
              Venezuela

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.28Name:         Societe Generale
Role:         Sub-Custodian
Location:     Paris
              France

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.29Name:         Deutsche Bank AG
Role:         Sub-Custodian
Location:     Eschborn
              Germany

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.30Name:         Barclays Bank of Ghana Ltd.
Role:         Sub-Custodian
Location:     Accra
              Ghana

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.31Name:         HSBC Bank plc
Role:         Sub-Custodian
Location:     Athens
              Greece

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.32Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Wan Chai
              Hong Kong

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.33Name:         Deutsche Bank Zrt.
Role:         Sub-Custodian
Location:     Budapest
              Hungary

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.34Name:         Glitnir Banki HF
Role:         Sub-Custodian
Location:     Reykjavik
              Iceland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.35Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Mumbai
              India

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.36Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Mumbai
              India

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.37Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Jakarta
              Indonesia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.38Name:         Bank of Ireland
Role:         Sub-Custodian
Location:     Dublin
              Ireland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.39Name:         Barclays Bank of Zambia plc
Role:         Sub-Custodian
Location:     Lusaka
              Zambia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.40Name:         Bank Leumi Le-Israel, B.M.
Role:         Sub-Custodian
Location:     Tel Aviv
              Israel

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.41Name:         Intesa Sanpaolo S.P.A.
Role:         Sub-Custodian
Location:     Milan
              Italy

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.42Name:         Societe Generale De Banques En Cote D’Lviore
Role:         Sub-Custodian
Location:     Abidjan
              Ivory Coast

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.43Name:         First Caribbean International Securities Ltd.
Role:         Sub-Custodian
Location:     Kingston
              Jamaica

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.44Name:         Mizuho Corporate Bank Ltd.
Role:         Sub-Custodian
Location:     Tokyo
              Japan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.45Name:         Bank of Tokyo-Mitsubishi Ufj Ltd.
Role:         Sub-Custodian
Location:     Tokyo
              Japan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.46Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Western Amman
              Jordan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.47Name:         SB HSBC Bank Kazakhstan JSC
Role:         Sub-Custodian
Location:     Almaty
              Kazakhstan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.48Name:         Barclays Bank of Kenya Ltd.
Role:         Sub-Custodian
Location:     Nairobi
              Kenya

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.49Name:         Hansabanka
Role:         Sub-Custodian
Location:     Riga
              Latvia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.50Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Beirut
              Lebanon

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.51Name:         AB Seb Bankas
Role:         Sub-Custodian
Location:     Vilnius
              Lithuania

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.52Name:         Fortis Banque Luxembourg S.A.
Role:         Sub-Custodian
Location:     Luxembourg
              Luxembourg

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.53Name:         HSBC Bank Malaysia Berhad
Role:         Sub-Custodian
Location:     Kuala Lumpur
              Malaysia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.54Name:         Barclays Bank of Zimbabwe Ltd.
Role:         Sub-Custodian
Location:     Harare
              Zimbabwe

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.55Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Port Louis
              Mauritius

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.56Name:         Banco Nacional de Mexico, S.A.
Role:         Sub-Custodian
Location:     Mexico City
              Mexico

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.57Name:         Attijariwafa Bank S.A.
Role:         Sub-Custodian
Location:     Casablanca
              Morocco

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.58Name:         Standard Bank Namibia Ltd.
Role:         Sub-Custodian
Location:     Windhoek
              Namibia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.59Name:         Kas Bank N.V.
Role:         Sub-Custodian
Location:     Amsterdam
              Netherlands

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.60Name:         National Australia Bank Ltd.
Role:         Sub-Custodian
Location:     Auckland
              New Zealand

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.61Name:         Stanbic Ibtc Chartered Bank plc
Role:         Sub-Custodian
Location:     Lagos
              Nigeria

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.62Name:         DNB Nor Bank Asa
Role:         Sub-Custodian
Location:     Oslo
              Norway

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.63Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Ruwi
              Oman

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.64Name:         Standard Chartered Bank
Role:         Sub-Custodian
Location:     Karachi
              Pakistan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.65Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Manila
              Philippines

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.66Name:         Bank Handlowy W. Warszawie S.A.
Role:         Sub-Custodian
Location:     Warsaw
              Poland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.67Name:         Deutsche Bank AG
Role:         Sub-Custodian
Location:     London
              United Kingdom

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.68Name:         Banco Espirito Santo, S.A.
Role:         Sub-Custodian
Location:     Lisbon
              Portugal

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.69Name:         ING Bank N.V.
Role:         Sub-Custodian
Location:     Bucharest
              Romania

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.70Name:         J.P. Morgan Bank International LLC
Role:         Sub-Custodian
Location:     Moscow
              Russia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.71Name:         ING Bank (Eurasia) Zao
Role:         Sub-Custodian
Location:     Moscow
              Russia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.72Name:         HSBC Bank Malta P.L.C.
Role:         Sub-Custodian
Location:     Valletta
              Malta

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.73Name:         DBS Bank Ltd.
Role:         Sub-Custodian
Location:     Singapore
              Singapore

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.74Name:         Unicredit Bank Slovakia A.S.
Role:         Sub-Custodian
Location:     Bratislava
              Slovak Republic

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.75Name:         Citibank, N.A.
Role:         Sub-Custodian
Location:     Cairo
              Egypt

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.76Name:         Unicredit Banka Slovenija D.D.
Role:         Sub-Custodian
Location:     Ljubljana
              Slovenia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.77Name:         Firstrand Bank Ltd.
Role:         Sub-Custodian
Location:     Johannesburg
              South Africa

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.78Name:         Standard Chartered First Bank Korea Ltd.
Role:         Sub-Custodian
Location:     Seoul
              South Korea

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.79Name:         Santander Investment S.A.
Role:         Sub-Custodian
Location:     Madrid
              Spain

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.80Name:         Hongkong & Shanghai Banking Corp.
Role:         Sub-Custodian
Location:     Colombo
              Sri Lanka

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.81Name:         Skandinaviska Enskilda Banken AB (Publ)
Role:         Sub-Custodian
Location:     Stockholm
              Sweden

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.82Name:         UBS AG
Role:         Sub-Custodian
Location:     Zurich
              Switzerland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.83Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     Taipei
              Taiwan

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.84Name:         Standard Chartered Bank (Thai) PCL
Role:         Sub-Custodian
Location:     Bangkok
              Thailand

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.85Name:         Banque Internationale Arabe de Tunisie, S.A.
Role:         Custodian
Location:     Tunis Cedex
              Tunisia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.86Name:         Citibank A.S.
Role:         Sub-Custodian
Location:     Istanbul
              Turkey

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.87Name:         ING Bank Ukraine
Role:         Sub-Custodian
Location:     Kiev
              Ukraine

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.88Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Dubai
              United Arab Emirates

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.89Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     London
              United Kingdom

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.90Name:         Banco Itau Uruguay S.A.
Role:         Sub-Custodian
Location:     Montevideo
              Uruguay

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.91Name:         HSBC Bank (China) Co. Ltd.
Role:         Sub-Custodian
Location:     Shenzhen
              China

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.92Name:         Citibank Del Peru S.A.
Role:         Sub-Custodian
Location:     Lima
              Peru

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.93Name:         J.P. Morgan AG
Role:         Sub-Custodian
Location:     Frankfurt
              Germany

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.94Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Doha
              Qatar

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.95Name:         Unicredit Bank Srbija A.D.
Role:         Sub-Custodian
Location:     Belgrade
              Serbia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.96Name:         HSBC Bank (Panama) S.A.
Role:         Sub-Custodian
Location:     Panama City
              Panama

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.97Name:         HSBC Bank Middle East Ltd.
Role:         Sub-Custodian
Location:     Safat
              Kuwait

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.98Name:         Sabb Securities Ltd.
Role:         Sub-Custodian
Location:     Riyadh
              Saudi Arabia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
 S16: Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers 
 
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?  Yes

25.

The brokers or dealers, or their parents (issuers):
 
25.1Name:         Citigroup, Inc.
IRS #:        04-3531811
Type of security owned:  Equity
Value of securities owned at period end ($000s)11,175
 
25.2Name:         Lehman Brothers Holdings, Inc.
IRS #:        13-2933198
Type of security owned:  Equity
Value of securities owned at period end ($000s)16,094
 
 S16: Sales and Repurchases 
 
28.Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
 
1st Month of period:  ($000s)
    Total NAV of shares sold:
      New sales (including exchanges) ............................
362,159
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 140,107
2nd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
348,596
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 133,216
3rd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
4th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
5th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
6th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..

Total of all months:  ($000s)
    Total NAV of shares sold:
      New sales (including exchanges) ............................
710,755
      Reinvestment of dividends and distributions ................
      Other ......................................................
    Total NAV of shares redeemed & repurchased (inc. exchanges) .. 273,323

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s)8,289
 
 S16: Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance) 
 
29.Was a front-end sales load deducted from any share sales during the
period?  Yes
 
30.Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s)1,457

The maximum sales load rate in effect at period end as a percentage of
the offering price:  5.75%
The minimum sales load rate in effect at period end as a percentage of
the offering price:  0.0%
 
31.Net amount retained by the Registrant’s/Series’ Principal Underwriter or
by any underwriter or dealer which is an affiliated person of the
Principal Underwriter thereof from front-end sales loads collected from
sales of the Registrant’s/Series’ shares during the period ($000s)911

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s)0
 
32.Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s)547
 
33.Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s)0
 
34.Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period?  Yes
 
35.Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s)594
 
36.Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period?  No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s)0
 
37.Did the Registrant/Series impose a redemption fee other than a deferred
or contingent sales load during the period?  No
 
39.Were any account maintenance fees or other administrative fees imposed
directly on shareholders during the period?  No
 
 S16: Payment Plan for the Distribution of Fund Shares 
 
40.During the period, did the Registrant/Series have a plan of distribution
adopted pursuant to Rule 12b-1?  Yes
 
41.During the period, did the Registrant/Series use its assets directly to
make payments under the 12b-1 plan?  Yes
 
42.
For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid  (%)
Advertising ............................................................
Printing & mailing of prospectuses to other than current shareholders ..
Payments to underwriters ............................................... 100
Payments to brokers or dealers .........................................
Direct payments to sales personnel .....................................
Payments to banks and savings & loans ..................................
Other uses, including payments to its Investment Adviser separate
  from the advisory fee ................................................
Unallocated payments made for a combination of such services ...........
 
43.Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s)13,891
 
44.If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s)1,172
 
 S16: Advisory Fee 
 
45.Did the Registrant/Series have an advisory contract during the period?  Yes
 
46.Did the Registrant/Series pay more than one Investment Adviser directly
for investment advice during the period?  No
 
47.Was the Registrant’s/Series’ advisory fee based solely on a percentage
of its assets?  No
 
49.Was the Registrant’s/Series’ advisory fee during the period based solely
on a percentage of its income?  No
 
50.Was the Registrant’s/Series’ advisory fee during the period based on
some combined percentage of its income and assets?  No
 
51.Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on its investment performance?  No
 
52.Was the Registrant’s/Series’ advisory fee during the period based in
whole or in part on the assets, income or performance of other
Registrants?  Yes
 
53.Were the expenses of the Registrant/Series limited or reduced at any
time during the period by some agreement or understanding other than by
Blue Sky Laws?  Yes

Was the limitation that applied during the period based on...
    Assets?   Yes
    Income?   No
 
 S16: Miscellaneous Info 
 
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
 
56.During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies?  Yes
 
57.Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend?  No
 
 S16: Classification and Asset Allocation 
 
58.Is the Registrant/Series a Separate Account of an insurance company?  No
 
59.Is the Registrant/Series a management investment company?  Yes
 
60.Was the Registrant/Series a diversified investment company at any time
during the period?  Yes

Was the Registrant/Series a diversified investment company at the end of
the period?  Yes
 
61.The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity:  $10,000
 
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
 
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?  Yes
    Growth?                           No
    Growth and income?                No
               Income?                No
    Total return?                     No
 
67.Is the Registrant/Series a “balanced” Fund?  No
 
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?  No
 
69.Is the Registrant/Series an index Fund?  No
 
 S16: Investment Practices 
 
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 to both
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?         No        
Investments in restricted securities?                    Yes to both
Investments in shares of other investment companies?     Yes to both
Investments in securities of foreign issuers?            Yes to both
Currency exchange transactions?                          Yes to both
Loaning portfolio securities?                            Yes to both
Borrowing of money?                                      Yes      No
Purchases/sales by certain exempted affiliated persons?  Yes to both
Margin purchases?                                        No        
Short selling?                                           Yes      No
 
 S16: Portfolio Turnover 
 
71.Portfolio turnover rate for the period:
 
Purchases ($000s)1,811,779
Sales ($000s):      659,909

Monthly average Value of portfolio ($000s)4,473,081

Percent turnover (lesser of Purchases or Sales, divided by Value):  15%
 
 S16: Financial Info — Income and Expenses 
 
72.The number of months covered by the values in Items 72 and 73:  8

Income  ($000s)
Net interest income ..............................................
9,286
Net dividend income .............................................. 28,318
Account maintenance fees .........................................
Net other income ................................................. 5,322

Expenses  ($000s)
Advisory fees ....................................................
19,786
Administrator fees ...............................................
Salaries and other compensation ..................................
Shareholder Servicing Agent fees ................................. 6,859
Custodian fees ................................................... 48
Postage ..........................................................
Printing expenses ................................................
Directors’ fees .................................................. 14
Registration fees ................................................ 290
Taxes ............................................................
Interest .........................................................
Bookkeeping fees paid to anyone performing this service .......... 736
Auditing fees .................................................... 57
Legal fees ....................................................... 13
Marketing/distribution payments, incl. Rule 12b-1 plan payments .. 13,891
Amortization of organization expenses ............................
Shareholder meeting expenses .....................................
Other expenses ................................................... 296
Total expenses ................................................... 41,990

Expense reimbursements ($000s):   23

Net investment income ($000s):    959

Realized capital gains ($000s):   0
Realized capital losses ($000s)29,475

Net unrealized appreciation during the period ($000s)0
Net unrealized depreciation during the period ($000s)144,635

Total income dividends for which the record date passed during the
period ($000s)13,956
Dividends for a second class of shares ($000s)5,855

Total capital gains distributions for which the record date passed
during the period ($000s)116,235
 
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:    $0.0000

Distribution of capital gains:  $0.0000
Other distributions:            $0.0000
 
 S16: Financial Info — Condensed Balance Sheet Data 
 
74.Assets  ($000s)
Cash ............................................................. 438
Repurchase agreements ............................................
Short-term debt securities, other than repurchase agreements .....
Long-term debt securities, including convertible debt ............ 98,450
Preferred, conv. preferred and adjustable-rate preferred stock ... 66,635
Common stock ..................................................... 5,018,273
Options on equities ..............................................
Options on all futures ...........................................
Other investments ................................................ 482,546
Receivables from portfolio instruments sold ...................... 7,569
Receivables from affiliated persons .............................. 660
Other receivables ................................................ 36,514
All other assets ................................................. 5
Total assets ..................................................... 5,711,090

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
63,966
Amounts owed to affiliated persons ............................... 5,798
Senior long-term debt ............................................
Other liabilities:
  Reverse repurchase agreements ..................................
  Short sales ....................................................
  Written options ................................................
  All other liabilities .......................................... 140,087

Equity  ($000s)
Senior equity ....................................................
Net assets of common shareholders ................................ 5,501,239

Number of shares outstanding (000s):   125,605
Number of shares outstanding of a second class of shares (000s)26,716

Net Asset Value (NAV) per share (to nearest cent):  $0.00

Total number of shareholder accounts:  281,166

Total value of assets in segregated accounts ($000s)0
 
75.Monthly average net assets during the period ($000s)4,902,922
 
 Signature  Top of Form N-SAR 
                                                                                    
/s/      Kenneth Robins      
Name:   Kenneth Robins
Title:  President & Treasurer

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