SEC Info  
    Home      Search      My Interests      Help      Sign In      Please Sign In

Virtus Opportunities Trust – ‘N-Q’ for 12/31/07

On:  Friday, 2/29/08, at 2:31pm ET   ·   Effective:  2/29/08   ·   For:  12/31/07   ·   Accession #:  935069-8-494   ·   File #:  811-07455

Previous ‘N-Q’:  ‘N-Q’ on 8/29/07 for 6/30/07   ·   Next:  ‘N-Q’ on 8/28/08 for 6/30/08   ·   Latest:  ‘N-Q’ on 3/1/19 for 12/31/18

Find Words in Filings emoji
 
  in    Show  and   Hints

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

 2/29/08  Virtus Opportunities Trust        N-Q        12/31/07    2:288K                                   Bowne - BGM/FAPhoenix Emerging Markets Bond Fund Class A (PEMAX) — Class B (PEMBX) — Class C (PGMCX)Phoenix Growth Opportunities Fund Class A (TLCGX) — Class C (TGOCX)Phoenix International Strategies Fund Class A (PHITX) — Class B (PINBX) — Class C (PAICX)Virtus Alphasector Allocation Fund Class A (PSWAX) — Class C (PSWCX)Virtus Core Bond Fund Class A (PHGBX) — Class B (PUSBX) — Class C (PUSCX)Virtus Duff & Phelps Global Infrastructure Fund Class A (PGUAX) — Class C (PGUCX)Virtus Duff & Phelps International Real Estate Securities Fund Class A (PXRAX) — Class C (PXRCX) — Class I (PXRIX)Virtus Duff & Phelps Real Asset Fund Class A (PDPAX) — Class C (PDPCX)Virtus Duff & Phelps Real Estate Securities Fund Class A (PHRAX) — Class B (PHRBX) — Class C (PHRCX) — Class I (PHRIX)Virtus Dynamic Trend Fund Class A (EMNAX) — Class B (EMNBX) — Class C (EMNCX)Virtus Money Market Fund Class A (PMMXX)Virtus Newfleet CA Tax-Exempt Bond Fund Class A (CTESX) — Class I (CTXEX)Virtus Newfleet Core Plus Bond Fund Class A (SAVAX) — Class B (SAVBX) — Class C (SAVCX) — Class I (SAVYX)Virtus Newfleet High Yield Fund Class A (PHCHX) — Class B (PHCCX) — Class C (PGHCX)Virtus Newfleet Multi-Sector Intermediate Bond Fund Class A (NAMFX) — Class B (NBMFX) — Class C (NCMFX)Virtus Newfleet Multi-Sector Short Term Bond Fund Class A (NARAX) — Class B (PBARX) — Class C (PSTCX) — Class C1 (PMSTX)Virtus Rampart Sector Trend Fund Class A (PWBAX) — Class C (PWBCX)Virtus Vontobel Foreign Opportunities Fund Class A (JVIAX) — Class C (JVICX) — Class I (JVXIX)Virtus Vontobel Global Opportunities Fund Class A (NWWOX) — Class B (WWOBX) — Class C (WWOCX)Virtus Wealth Accumulator Fund Class A (PWAAX) — Class C (PWACX)

Quarterly Schedule of Portfolio Holdings of a Management Investment Company   —   Form N-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-Q         Phoenix Opportunities Trust Nq                       205±   729K 
 2: EX-99.CERT  Certification 302                                      2     15K 


N-Q   —   Phoenix Opportunities Trust Nq
Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
2Item 1. SCHEDULE OF INVESTMENTS. The Schedules of Investments are attached herewith
100Item 2. Controls and Procedures
"Item 3. Exhibits
N-Q1st “Page” of 101TOCTopPreviousNextBottomJust 1st
 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-07455 --------- Phoenix Opportunities Trust --------------------------------------------------- (Exact name of registrant as specified in charter) 101 Munson Street Greenfield, MA 01301-9668 --------------------------------------------------- (Address of principal executive offices) (Zip code) Kevin J. Carr, Esq. Vice President, Chief Legal Officer, John H. Beers, Esq. Counsel and Secretary for Registrant Vice President and Counsel Phoenix Life Insurance Company Phoenix Life Insurance Company One American Row One American Row Hartford, CT 06103-2899 Hartford, CT 06103-2899 ------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: (800) 243-1574 -------------- Date of fiscal year end: September 30 ------------ Date of reporting period: December 31, 2007 ----------------- Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.
N-Q2nd “Page” of 101TOC1stPreviousNextBottomJust 2nd
ITEM 1. SCHEDULE OF INVESTMENTS. The Schedules of Investments are attached herewith. PHOENIX OPPORTUNITIES TRUST GLOSSARY DECEMBER 31, 2007 (UNAUDITED) ADR (AMERICAN DEPOSITARY RECEIPT) Represents shares of foreign companies traded in U.S. dollars on U.S. exchanges that are held by a bank or a trust. Foreign companies use ADRs in order to make it easier for Americans to buy their shares. AMBAC American Municipal Bond Assurance Corporation CONSUMER PRICE INDEX (CPI) Measures the change in consumer prices of goods and services, including housing, electricity, food and transportation as determined by a monthly survey of the U.S. Bureau of Labor Statistics. Also called the cost-of-living index. DEBT INDEX SECURITIES Securities comprised of a basket of credit default swaps referencing a diversified pool of high yield or emerging markets debt instruments. FFCB Federal Farm Credits Bank Funding Corporation FGIC Financial Guaranty Insurance Company FHA Federal Housing Authority FHLB Federal Home Loan Bank FHLMC Federal Home Loan Mortgage Corporation FNMA or ("Fannie Mae") Federal National Mortgage Association FSA Financial Security Assurance, Inc. GNMA ("Ginnie Mae") Government National Mortgage Association IBC Insured Bond Certificate MBIA Municipal Bond Insurance Association PIK (PAYMENT-IN-KIND SECURITY) A bond which pays interest in the form of additional bonds, or preferred stock which pays dividends in the form of additional preferred stock. REIT (REAL ESTATE INVESTMENT TRUST) Real estate investment trusts are typically publicly traded companies that own, develop and operate income-producing real estate such as apartments, office buildings, hotels, shopping centers and other commercial properties. REPURCHASE AGREEMENT A repurchase agreement is a transaction where a Fund acquires a security for cash and obtains a simultaneous commitment from the seller to repurchase the security at an agreed upon price and date. SPONSORED ADR An ADR which is issued with the cooperation of the company whose stock will underlie the ADR. These shares carry all the rights of the common share such as voting rights. ADRs must be sponsored to be able to trade on the NYSE. TREASURY-INFLATION PROTECTED SECURITIES (TIPS) U.S. Treasury bonds and notes whose value is adjusted according to the changes in inflation rate every six months, as measured by the consumer price index. As inflation occurs the value of TIPS increases. VA Department of Veterans Affairs WHEN-ISSUED AND DELAYED DELIVERY TRANSACTIONS (W.I. AND TBA) Securities purchased on a when-issued or forward commitment basis are also known as delayed-delivery transactions. Delayed delivery transactions involve a commitment by a Fund to purchase or sell a security at a future date ordinarily up to 90 days later. When-issued or forward commitments enable a Fund to lock in what is believed to be an attractive price or yield on a particular security for a period of time, regardless of future changes in interest rates.
N-Q3rd “Page” of 101TOC1stPreviousNextBottomJust 3rd
Phoenix Global Utilities Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) ------- ------- DOMESTIC COMMON STOCKS--62.1% ELECTRIC UTILITIES--35.4% Duke Energy Corp. 118,080 $ 2,382 Edison International 27,630 1,474 Entergy Corp. 21,310 2,547 Exelon Corp. 63,850 5,213 FirstEnergy Corp. 32,010 2,315 FPL Group, Inc. 42,910 2,908 Northeast Utilities 23,320 730 Pepco Holdings, Inc. 34,560 1,014 PPL Corp. 38,360 1,998 Progress Energy, Inc. 22,070 1,069 Southern Co. (The) 73,410 2,845 ------- 24,495 ------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--2.4% Constellation Energy Group, Inc. 16,430 1,685 ------- INTEGRATED TELECOMMUNICATION SERVICES--7.6% AT&T, Inc. 73,440 3,052 Verizon Communications, Inc. 37,910 1,656 Windstream Corp. 44,240 576 ------- 5,284 ------- MULTI-UTILITIES--15.7% Alliant Energy Corp. 10,830 441 CenterPoint Energy, Inc. 27,060 463 Dominion Resources, Inc. 65,460 3,106 NSTAR 16,210 587 PG&E Corp. 36,880 1,589 Public Service Enterprise Group, Inc. 29,080 2,857 Sempra Energy 29,550 1,829 ------- 10,872 ------- OIL & GAS STORAGE & TRANSPORTATION--1.0% Spectra Energy Corp. 25,430 657 ------- ------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $38,278) 42,993 ------------------------------------------------------------------------- FOREIGN COMMON STOCKS(b)--34.6% ELECTRIC UTILITIES--13.8% E.ON AG (Germany) 12,220 2,598 Electricidade de Portugal SA (Portugal) 148,200 971 VALUE SHARES (000) ------- ------- ELECTRIC UTILITIES--(CONTINUED) Enel S.p.A. (Italy) 88,720 $ 1,055 Fortum Oyj (Finland) 25,055 1,126 Iberdrola S.A. (Spain) 102,510 1,553 Red Electrica de Espana (Spain) 14,770 933 Scottish and Southern Energy plc (United Kingdom) 39,450 1,286 ------- 9,522 ------- INTEGRATED TELECOMMUNICATION SERVICES--17.1% BT Group plc Sponsored ADR (United Kingdom) 15,810 852 Chunghwa Telecom Co. Ltd. (Taiwan) 57,171 1,207 France Telecom SA Sponsored ADR (France) 38,830 1,384 Koninklijke (Royal) KPN N.V. Sponsored ADR (Netherlands) 80,970 1,470 Neuf Cegetel (France) 23,010 1,164 Singapore Telecommunications Ltd. (Singapore) 318,400 876 Swisscom AG (Switzerland) (Switzerland) 2,680 1,046 Telecom Corporation of New Zealand Ltd. Sponsored ADR (New Zealand) 55,030 914 Telefonica S.A. Sponsored ADR (Spain) 17,230 1,681 TeliaSonera AB (Sweden) 128,230 1,198 ------- 11,792 ------- MULTI-UTILITIES--0.8% National Grid plc (United Kingdom) 34,510 572 ------- WIRELESS TELECOMMUNICATION SERVICES--2.9% Vodafone Group plc Sponsored ADR (United Kingdom) 54,450 2,032 ------- ------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $19,163) 23,918 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--96.7% (IDENTIFIED COST $57,441) 66,911 ------- PAR VALUE VALUE (000) (000) --------- ------- SHORT-TERM INVESTMENTS--2.2% FEDERAL AGENCY SECURITIES(c)--2.2% FHLB 3.200% due 1/2/08 $ 1,535 1,535 1
N-Q4th “Page” of 101TOC1stPreviousNextBottomJust 4th
Phoenix Global Utilities Fund ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $1,535) 1,535 ------------------------------------------------------------------------- TOTAL INVESTMENTS--98.9% (IDENTIFIED COST $58,976) 68,446(a) Other assets and liabilities, net--1.1% 748 ------- NET ASSETS--100.0% $69,194 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $9,634 and gross depreciation of $205 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $59,017. (b) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (c) The rate shown is the discount rate. 2
N-Q5th “Page” of 101TOC1stPreviousNextBottomJust 5th
International Real Estate Securities Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) ------- ------- FOREIGN COMMON STOCKS(c)--97.1% AUSTRALIA--23.6% CFs Retail Property Trust (Retail REITs) 102,452 $ 210 Commonwealth Property Office Fund (Office REITs) 108,923 147 DB Rreef Trust (Diversified REITs) 148,987 260 Goodman Group (Industrial REITs) 95,640 407 GPT Group (Diversified REITs) 88,972 313 Westfield Group (Retail REITs) 77,946 1,425 ------- 2,762 ------- CANADA--7.4% Allied Properties Real Estate Investment Trust (Office REITs) 5,900 124 Boardwalk Real Estate Investment Trust (Residential REITs) 4,960 224 Brookfield Properties Corp (Real Estate Management & Development) 9,300 181 Cominar Real Estate Investment Trust (Diversified REITs) 5,750 119 RioCan Real Estate Investment Trust (Retail REITs) 10,200 225 ------- 873 ------- FRANCE--11.0% Fonciere Des Regions (Real Estate Management & Development) 897 114 Gecina SA (Diversified REITs) 735 116 Klepierre (Retail REITs) 3,996 204 Societe Immobiliere de Location Pour L'industrie Et Le Commerce (Real Estate Management & Development) 792 116 Unibail-Rodamco (Retail REITs) 3,405 746 ------- 1,296 ------- GERMANY--3.6% Alstria Office Reit-AG (Specialized REITs)(b) 5,232 79 Deutsche Euroshop AG (Real Estate Management & Development) 2,418 82 DIC Asset AG (Real Estate Management & Development) 3,801 121 VALUE SHARES (000) ------- ------- GERMANY--(CONTINUED) IVG Immobilien AG (Real Estate Management & Development) 4,232 $ 145 ------- 427 ------- HONG KONG--6.6% Champion REIT (Specialized REITs) 162,000 94 Hongkong Land Holdings Ltd. (Real Estate Management & Development) 89,000 440 Link (The) (Retail REITs) 111,000 239 ------- 773 ------- JAPAN--11.1% Japan Prime Realty Investment Corp. (Office REITs) 41 164 Japan Real Estate Investment Corp. (Office REITs) 24 298 Japan Retail Fund Investment Corp. (Retail REITs) 14 99 Mori Hills REIT Investment Corp. (Specialized REITs) 9 62 Nippon Accomodations Fund, Inc. (Specialized REITS) 16 83 Nippon Building Fund, Inc. (Office REITs) 27 377 Nippon Residential Investment Corp. (Specialized REITs) 13 58 Nomura Real Estate Office Fund, Inc. (Office REITs) 17 160 ------- 1,301 ------- LUXEMBOURG--1.1% GAGFAH S.A. (Real Estate Management & Development) 7,151 124 NETHERLANDS--3.1% Corio N.V. (Retail REITs) 2,481 201 Eurocommercial Properties N.V. (Specialized REITs) 3,212 166 ------- 367 ------- SINGAPORE--6.2% Ascendas Real Estate Investment Trust (Industrial REITs) 107,000 181 CapitaCommercial Trust (Office REITs) 105,000 176 Capitamall Trust (Retail REITs) 104,000 247 CDL Hospitality Trusts (Specialized REITS) 78,000 126 ------- 730 ------- 1
N-Q6th “Page” of 101TOC1stPreviousNextBottomJust 6th
International Real Estate Securities Fund VALUE SHARES (000) ------- ------- SWEDEN--2.3% Castellum AB (Real Estate Management & Development) 12,466 $ 129 Fabege AB (Real Estate Management & Development) 13,509 137 ------- 266 ------- SWITZERLAND--1.2% PSP Swiss Property AG (Real Estate Management & Development)(b) 2,846 143 UNITED KINGDOM--19.9% Big Yellow Group plc (Real Estate Management & Development) 6,846 59 British Land Co. plc (Diversified REITs) 19,173 360 Brixton plc (Industrial REITs) 17,904 104 Derwent London plc (Real Estate Management & Development) 6,846 190 Great Portland Estates plc (Office REITs) 14,353 134 Hammerson plc (Retail REITs) 13,309 271 Land Securities Group plc (Retail REITs) 17,453 523 Liberty International plc (Retail REITs) 16,065 343 Safestore Holdings Ltd. (Specialized REITs) 35,819 127 Segro plc (Industrial REITs) 23,428 218 ------- 2,329 ------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $12,676) 11,391 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--97.1% (IDENTIFIED COST $12,676) 11,391 ------- PAR VALUE VALUE (000) (000) --------- ------- SHORT-TERM INVESTMENTS--2.3% FEDERAL AGENCY SECURITIES(d)--2.3% FHLB 3.200% due 1/2/08 $265 265 ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $265) 265 ------------------------------------------------------------------------- TOTAL INVESTMENTS--99.4% (IDENTIFIED COST $12,941) 11,656(a) Other assets and liabilities, net--0.6% 71 ------- NET ASSETS--100.0% $11,727 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized depreciation of investment securities is comprised of gross appreciation of $14 and gross depreciation of $1,299 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $12,941. (b) Non-income producing. (c) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (d) The rate shown is the discount rate. 2
N-Q7th “Page” of 101TOC1stPreviousNextBottomJust 7th
Phoenix Market Neutral Fund SCHEDULE OF INVESTMENTS AND SECURITIES SOLD SHORT DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) ------- ------- DOMESTIC COMMON STOCKS--82.8% AEROSPACE & DEFENSE--1.3% Cubic Corp. 9,300 $ 365 Teledyne Technologies, Inc.(b) 10,000 533 ------- 898 ------- AGRICULTURAL PRODUCTS--0.6% Corn Products International, Inc. 11,200 412 ------- AIRLINES--0.9% Continental Airlines, Inc. Class B(b) 14,000 312 UAL Corp(b) 8,200 292 ------- 604 ------- ALTERNATIVE CARRIERS--0.7% Premiere Global Services, Inc. 33,400 496 ------- APPAREL RETAIL--2.4% Aeropostale, Inc.(b) 18,900 501 AnnTaylor Stores Corp.(b) 16,400 419 Jos. A. Bank Clothiers, Inc.(b) 7,700 219 Ross Stores, Inc. 19,700 504 ------- 1,643 ------- APPAREL, ACCESSORIES & LUXURY GOODS--1.4% Columbia Sportswear Co. 7,800 344 Movado Group, Inc. 13,400 339 Warnaco Group, Inc. (The) 8,400 292 ------- 975 ------- APPLICATION SOFTWARE--1.8% Actuate Corp.(b) 62,700 487 Cadence Design Systems, Inc. 12,500 213 Synopsys, Inc.(b) 18,800 487 ------- 1,187 ------- AUTO PARTS & EQUIPMENT--0.6% Aftermarket Technology Corp.(b) 10,400 283 American Axle & Manufacturing Holdings, Inc. 8,300 155 ------- 438 ------- AUTOMOTIVE RETAIL--0.7% AutoZone, Inc.(b) 4,100 492 ------- VALUE SHARES (000) ------- ------- BROADCASTING & CABLE TV--0.4% Sinclair Broadcast Group, Inc. Class A 35,900 $ 295 ------- BUILDING PRODUCTS--1.1% Aaon, Inc. 4,300 85 Apogee Enterprises, Inc. 23,300 399 Lennox International, Inc. 6,700 277 ------- 761 ------- COAL & CONSUMABLE FUELS--0.7% USEC, Inc. 53,800 484 ------- COMMERCIAL PRINTING--0.1% Consolidated Graphics, Inc.(b) 1,700 81 ------- COMMODITY CHEMICALS--0.8% Koppers Holdings, Inc. 12,300 532 ------- COMMUNICATIONS EQUIPMENT--1.9% Dycom Industries, Inc.(b) 18,200 485 Harris Corp. 8,200 514 QUALCOMM, Inc. 6,500 256 ------- 1,255 ------- COMPUTER & ELECTRONICS RETAIL--0.6% Rex Stores Corp.(b) 25,800 407 ------- COMPUTER HARDWARE--0.7% Hewlett-Packard Co. 10,000 505 ------- COMPUTER STORAGE & PERIPHERALS--0.7% Western Digital Corp. 16,400 495 ------- CONSTRUCTION & ENGINEERING--1.0% Foster Wheeler Ltd.(b) 3,200 496 Perini Corp.(b) 5,100 211 ------- 707 ------- CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS--2.0% Caterpillar, Inc. 7,300 530 Deere & Co. 5,600 521 Terex Corp.(b) 3,500 229 Wabtec Corp. 1,300 45 ------- 1,325 ------- 1
N-Q8th “Page” of 101TOC1stPreviousNextBottomJust 8th
Phoenix Market Neutral Fund VALUE SHARES (000) ------- ------- DATA PROCESSING & OUTSOURCED SERVICES--0.3% Computer Sciences Corp.(b) 3,500 $ 173 ------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.6% ICF International, Inc. 15,200 384 ------- DIVERSIFIED METALS & MINING--1.3% AMCOL International Corp. 13,200 476 Freeport-McMoRan Copper & Gold, Inc. (Indonesia)(c) 3,700 379 ------- 855 ------- DIVERSIFIED REITS--0.3% Investors Real Estate Trust 21,000 188 ------- ELECTRIC UTILITIES--0.4% FirstEnergy Corp. 4,100 297 ------- ENVIRONMENTAL & FACILITIES SERVICES--0.7% Republic Services, Inc. 15,000 470 ------- FERTILIZERS & AGRICULTURAL CHEMICALS--0.8% CF Industries Holdings, Inc. 5,200 572 ------- GAS UTILITIES--1.3% Energen Corp. 6,200 398 WGL Holdings, Inc. 15,500 508 ------- 906 ------- GENERAL MERCHANDISE STORES--0.6% Dollar Tree Stores, Inc.(b) 14,900 386 ------- HEALTH CARE EQUIPMENT--1.7% CONMED Corp.(b) 13,600 314 Greatbatch, Inc.(b) 18,500 370 Kinetic Concepts, Inc. 8,400 450 ------- 1,134 ------- HEALTH CARE SERVICES--1.4% Apria Healthcare Group, Inc.(b) 5,700 123 Chemed Corp. 9,400 525 RehabCare Group, Inc. 400 9 Res-Care, Inc.(b) 10,700 269 ------- 926 ------- HEALTH CARE TECHNOLOGY--1.5% Eclipsys Corp.(b) 20,800 527 HLTH Corp.(b) 38,300 513 ------- 1,040 ------- VALUE SHARES (000) ------- ------- HOME FURNISHINGS--0.2% Mohawk Industries, Inc.(b) 1,500 $ 112 ------- HOME IMPROVEMENT RETAIL--0.7% Sherwin-Williams Co. (The) 7,600 441 ------- HOMEBUILDING--0.4% Avatar Holdings, Inc.(b) 5,800 243 ------- HOUSEHOLD APPLIANCES--1.1% Snap-On, Inc. 10,400 502 Stanley Works (The) 4,500 218 ------- 720 ------- HOUSEWARES & SPECIALTIES--1.1% CSS Industries, Inc. 1,800 66 Jarden Corp.(b) 7,400 175 Tupperware Brands Corp. 15,600 515 ------- 756 ------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.7% Mirant Corp.(b) 12,700 495 ------- INDUSTRIAL CONGLOMERATES--0.2% Textron, Inc. 1,700 121 ------- INDUSTRIAL MACHINERY--3.3% Actuant Corp. Class A 15,000 510 EnPro Industries, Inc.(b) 11,900 365 Harsco Corp. 8,600 551 Illinois Tool Works, Inc. 6,900 369 Parker Hannifin Corp. 6,000 452 ------- 2,247 ------- INSURANCE BROKERS--0.7% AON Corp. 10,200 486 ------- INTEGRATED OIL & GAS--0.8% Hess Corp. 5,400 545 ------- INTEGRATED TELECOMMUNICATION SERVICES--0.6% Atlantic Tele-Network, Inc. 11,800 399 ------- INTERNET RETAIL--0.4% priceline.com, Inc.(b) 2,400 276 ------- INTERNET SOFTWARE & SERVICES--4.2% CMGI, Inc.(b) 31,100 407 eBay, Inc.(b) 14,000 465 Perficient, Inc.(b) 18,200 286 SonicWALL, Inc.(b) 12,400 133 2
N-Q9th “Page” of 101TOC1stPreviousNextBottomJust 9th
Phoenix Market Neutral Fund VALUE SHARES (000) ------- ------- INTERNET SOFTWARE & SERVICES--(CONTINUED) Travelzoo, Inc.(b) 7,300 $ 100 United Online, Inc. 35,900 424 Vignette Corp.(b) 29,500 431 WebSense, Inc.(b) 18,300 311 Website Pros, Inc.(b) 24,400 283 ------- 2,840 ------- INVESTMENT BANKING & BROKERAGE--0.4% Goldman Sachs Group, Inc. (The) 1,400 301 ------- IT CONSULTING & OTHER SERVICES--0.5% CIBER, Inc.(b) 37,900 232 SRA International, Inc. Class A(b) 4,600 135 ------- 367 ------- LEISURE PRODUCTS--2.0% Hasbro, Inc. 15,600 399 JAKKS Pacific, Inc.(b) 20,700 489 Sturm, Ruger & Co. Inc.(b) 59,900 496 ------- 1,384 ------- LIFE & HEALTH INSURANCE--0.7% Nationwide Financial Services, Inc. Class A 10,300 464 ------- MANAGED HEALTH CARE--1.1% Magellan Health Services, Inc. 10,900 509 Molina Healthcare, Inc.(b) 1,400 54 WellCare Health Plans, Inc.(b) 4,600 195 ------- 758 ------- MORTGAGE REITS--1.9% Annaly Capital Management, Inc. 29,300 533 Arbor Realty Trust, Inc. 14,300 230 iStar Financial, Inc. 19,300 503 ------- 1,266 ------- MULTI-UTILITIES--1.5% PG&E Corp. 10,500 452 Public Service Enterprise Group, Inc. 5,800 570 ------- 1,022 ------- OFFICE ELECTRONICS--0.7% Xerox Corp. 29,600 479 ------- OFFICE SERVICES & SUPPLIES--0.7% United Stationers, Inc.(b) 10,000 462 ------- OIL & GAS EQUIPMENT & SERVICES--0.7% Trico Marine Services, Inc. 12,600 466 ------- VALUE SHARES (000) ------- ------- OIL & GAS EXPLORATION & PRODUCTION--0.8% Comstock Resources, Inc.(b) 15,100 $ 513 ------- OIL & GAS REFINING & MARKETING--1.9% Alon USA Energy, Inc. 11,400 310 Frontier Oil Corp. 10,600 430 Holly Corp. 11,000 560 ------- 1,300 ------- PACKAGED FOODS & MEATS--0.9% Flowers Foods, Inc. 19,400 454 Ralcorp Holdings, Inc.(b) 2,700 164 ------- 618 ------- PAPER PACKAGING--1.2% Packaging Corp. of America 16,700 471 Rock-Tenn Co. Class A 13,400 340 ------- 811 ------- PAPER PRODUCTS--0.8% Buckeye Technologies, Inc.(b) 32,000 400 Mercer International, Inc.(b) 15,800 124 ------- 524 ------- PERSONAL PRODUCTS--0.3% Elizabeth Arden, Inc.(b) 8,500 173 ------- PHARMACEUTICALS--0.5% Sciele Pharma, Inc.(b) 18,000 368 ------- PROPERTY & CASUALTY INSURANCE--2.2% CNA Financial Corp. 14,400 486 Darwin Professional Underwriters, Inc.(b) 21,600 522 RLI Corp. 8,600 488 ------- 1,496 ------- PUBLISHING--0.8% Meredith Corp. 1,600 88 Valassis Communications, Inc.(b) 40,200 470 ------- 558 ------- REAL ESTATE MANAGEMENT & DEVELOPMENT--0.7% Jones Lang LaSalle, Inc. 6,800 484 ------- REGIONAL BANKS--3.0% Bank of Hawaii Corp. 9,500 486 Bank of The Ozarks, Inc. 12,700 333 S&T Bancorp, Inc. 9,300 257 SVB Financial Group(b) 5,800 292 Texas Capital Bancshares, Inc.(b) 24,800 453 3
N-Q10th “Page” of 101TOC1stPreviousNextBottomJust 10th
Phoenix Market Neutral Fund VALUE SHARES (000) ------- ------- REGIONAL BANKS--(CONTINUED) Wilshire Bancorp, Inc. 23,700 $ 186 ------- 2,007 ------- RESTAURANTS--0.3% Darden Restaurants, Inc. 6,100 169 Morton's Restaurant Group, Inc.(b) 6,900 64 ------- 233 ------- RETAIL REITS--0.3% Ramco-Gershenson Properties Trust 8,400 180 ------- SEMICONDUCTOR EQUIPMENT--2.1% Applied Materials, Inc. 24,000 426 KLA-Tencor Corp. 9,500 458 Mattson Technology, Inc.(b) 33,000 283 Varian Semiconductor Equipment Associates, Inc.(b) 6,900 255 ------- 1,422 ------- SEMICONDUCTORS--2.6% Amkor Technology, Inc.(b) 42,700 364 Integrated Silicon Solution, Inc.(b) 10,800 72 IXYS Corp.(b) 13,300 107 ON Semiconductor Corp.(b) 45,100 400 Pericom Semiconductor Corp.(b) 23,200 434 Skyworks Solutions, Inc.(b) 45,700 388 ------- 1,765 ------- SOFT DRINKS--0.8% PepsiAmericas, Inc. 15,900 530 ------- SPECIALIZED CONSUMER SERVICES--0.7% Weight Watchers International, Inc. 10,400 470 ------- SPECIALIZED FINANCE--0.5% Encore Capital Group, Inc.(b) 12,100 117 Nasdaq Stock Market, Inc. (The)(b) 3,800 188 ------- 305 ------- SPECIALIZED REITS--1.4% Host Hotels & Resorts, Inc. 22,700 387 Potlatch Corp. 12,300 546 ------- 933 ------- SPECIALTY CHEMICALS--1.3% H.B. Fuller Co. 15,600 350 PolyOne Corp.(b) 75,300 496 ------- 846 ------- VALUE SHARES (000) ------- ------- STEEL--1.0% AK Steel Holding Corp.(b) 2,800 $ 129 Schnitzer Steel Industries, Inc. Class A 8,200 567 ------- 696 ------- SYSTEMS SOFTWARE--0.7% McAfee, Inc.(b) 13,100 491 ------- THRIFTS & MORTGAGE FINANCE--0.4% FirstFed Financial Corp.(b) 6,000 215 Ocwen Financial Corp.(b) 6,400 35 ------- 250 ------- TRADING COMPANIES & DISTRIBUTORS--0.9% Applied Industrial Technologies, Inc. 10,400 302 MSC Industrial Direct Co., Inc. Class A 6,900 279 ------- 581 ------- WIRELESS TELECOMMUNICATION SERVICES--0.8% Syniverse Holdings, Inc.(b) 33,800 527 ------- ------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $58,479) 56,054 ------------------------------------------------------------------------- FOREIGN COMMON STOCKS(c)--0.3% INTEGRATED TELECOMMUNICATION SERVICES--0.0% Telefonica Data Argentina S.A. (Argentina)(e) 1,400 0 Telefonica Moviles S.A. (Argentina)(e) 1,400 0 ------- 0 ------- PROPERTY & CASUALTY INSURANCE--0.3% ACE Ltd. (United States) 3,700 228 ------- ------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $217) 228 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--83.1% (IDENTIFIED COST $58,696) 56,282 ------- PAR VALUE VALUE (000) (000) --------- ------- SHORT-TERM INVESTMENTS--16.0% COMMERCIAL PAPER(d)--11.9% Danaher Corp. 4.300% due 1/3/08 $4,035 4,035 Sysco Corp. 3.550% due 1/2/08 4,000 4,000 ------- 8,035 ------- FEDERAL AGENCY SECURITIES(d)--4.1% FHLB 4.050% due 1/9/08 2,780 2,778 ------- 4
N-Q11th “Page” of 101TOC1stPreviousNextBottomJust 11th
Phoenix Market Neutral Fund ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $10,813) 10,813 ------------------------------------------------------------------------- TOTAL INVESTMENTS--99.1% (IDENTIFIED COST $69,509) 67,095(a) SECURITIES SOLD SHORT--(83.4)% (PROCEEDS $64,082) (56,421) Other assets and liabilities, net--84.3% 57,013 ------- NET ASSETS--100.0% $67,687 ======= VALUE SHARES (000) ------- ------- SECURITIES SOLD SHORT--83.4% DOMESTIC COMMON STOCKS SOLD SHORT--83.4% AEROSPACE & DEFENSE--1.3% Argon ST, Inc. 27,800 $ 516 Hexcel Corp. 13,800 335 ------- 851 ------- AIRLINES--0.8% JetBlue Airways Corp. 43,100 254 Northwest Airlines Corp. 21,600 314 ------- 568 ------- ALUMINUM--0.6% Kaiser Aluminum Corp. 5,200 413 ------- APPAREL RETAIL--2.0% Cache, Inc. 15,000 140 Casual Male Retail Group, Inc. 69,600 361 Limited Brands, Inc. 21,300 403 Zumiez, Inc. 17,200 419 ------- 1,323 ------- APPAREL, ACCESSORIES & LUXURY GOODS--1.0% Cherokee, Inc. 9,100 294 Quiksilver, Inc. 43,600 374 ------- 668 ------- APPLICATION SOFTWARE--1.7% ACI Worldwide, Inc. 23,200 442 MSC.Software Corp. 19,900 258 Net 1 UEPS Technologies, Inc. 15,300 449 ------- 1,149 ------- ASSET MANAGEMENT & CUSTODY BANKS--0.3% Ares Capital Corp. 16,000 234 ------- AUTO PARTS & EQUIPMENT--0.5% Sauer-Danfoss, Inc. 6,400 160 VALUE SHARES (000) ------- ------- AUTO PARTS & EQUIPMENT--(CONTINUED) Spartan Motors, Inc. 26,400 $ 202 ------- 362 ------- AUTOMOTIVE RETAIL--0.6% Lithia Motors, Inc. Class A 28,700 394 ------- BROADCASTING & CABLE TV--1.2% Entravision Communications Corp. Class A 64,600 506 Hearst-Argyle Television, Inc. 14,800 327 ------- 833 ------- BUILDING PRODUCTS--1.1% American Woodmark Corp. 12,300 223 Griffon Corp. 39,100 487 Owens Corning, Inc. 3,200 65 ------- 775 ------- COMMUNICATIONS EQUIPMENT--1.8% Juniper Networks, Inc. 14,800 491 Sonus Networks, Inc. 44,900 262 Tellabs, Inc. 71,900 470 ------- 1,223 ------- COMPUTER HARDWARE--0.6% Diebold, Inc. 13,200 383 ------- COMPUTER STORAGE & PERIPHERALS--0.7% Intermec, Inc. 24,400 496 ------- CONSTRUCTION & ENGINEERING--1.1% Insituform Technologies, Inc. Class A 35,400 524 Integrated Electrical Services, Inc. 12,900 242 ------- 766 ------- CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS--2.3% Bucyrus International, Inc. Class A 2,200 218 Gehl Co. 29,300 470 Twin Disc, Inc. 7,500 531 Wabash National Corp. 44,300 341 ------- 1,560 ------- DISTILLERS & VINTNERS--0.8% Brown-Forman Corp. Class B 7,400 548 ------- DIVERSIFIED CHEMICALS--0.7% Cabot Corp. 14,800 493 ------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.7% LECG Corp. 5,800 87 5
N-Q12th “Page” of 101TOC1stPreviousNextBottomJust 12th
Phoenix Market Neutral Fund VALUE SHARES (000) ------- ------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--(CONTINUED) Mobile Mini, Inc. 20,700 $ 384 ------- 471 ------- DIVERSIFIED METALS & MINING--1.4% Compass Minerals International, Inc. 12,300 504 Titanium Metals Corp. 16,900 447 ------- 951 ------- ELECTRIC UTILITIES--0.4% Pinnacle West Capital Corp. 6,800 288 ------- ENVIRONMENTAL & FACILITIES SERVICES--0.7% Covanta Holding Corp. 16,400 454 ------- FOOTWEAR--0.6% K-Swiss, Inc. Class A 21,200 384 ------- FOREST PRODUCTS--0.2% Deltic Timber Corp. 2,600 134 ------- GAS UTILITIES--1.2% Chesapeake Utilities Corp. 11,200 357 Equitable Resources, Inc. 9,100 485 ------- 842 ------- GENERAL MERCHANDISE STORES--0.6% 99 Cents Only Stores 51,000 406 ------- HEALTH CARE EQUIPMENT--2.4% Advanced Medical Optics, Inc. 17,800 437 Boston Scientific Corp. 30,700 357 CryoLife, Inc. 50,900 405 ResMed, Inc. 8,000 420 ------- 1,619 ------- HEALTH CARE FACILITIES--1.2% Assisted Living Concepts, Inc. 75,300 565 Capital Senior Living Corp. 6,700 66 Five Star Quality Care, Inc. 20,200 168 ------- 799 ------- HEALTH CARE SERVICES--1.3% Inventiv Health, Inc. 16,600 514 Omnicare, Inc. 5,800 132 Visicu, Inc. 22,100 263 ------- 909 ------- HEALTH CARE TECHNOLOGY--1.5% Allscripts Healthcare Solutions, Inc. 27,400 532 VALUE SHARES (000) ------- ------- HEALTH CARE TECHNOLOGY--(CONTINUED) Vital Images, Inc. 27,700 $ 501 ------- 1,033 ------- HOME FURNISHINGS--0.3% Furniture Brands International, Inc. 21,200 213 ------- HOMEBUILDING--2.2% Horton (D.R.), Inc. 36,700 483 KB Home 6,900 149 Meritage Homes Corp. 6,700 98 Pulte Homes, Inc. 49,100 517 Standard-Pacific Corp. 11,100 37 Toll Brothers, Inc. 9,900 199 ------- 1,483 ------- HOMEFURNISHING RETAIL--0.7% Haverty Furniture Cos., Inc. 52,800 475 ------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.7% AES Corp. (The) 22,700 486 ------- INDUSTRIAL CONGLOMERATES--0.2% Raven Industries, Inc. 3,000 115 ------- INDUSTRIAL MACHINERY--2.9% ESCO Technologies, Inc. 9,100 363 Flow International Corp. 55,500 517 Kaydon Corp. 10,000 545 Met-Pro Corp. 4,266 52 Watts Water Technologies, Inc. Class A 16,600 495 ------- 1,972 ------- INDUSTRIAL REITS--0.7% First Potomac Realty Trust 27,200 470 ------- INSURANCE BROKERS--0.8% Marsh & McLennan Cos., Inc. 19,400 514 ------- INTEGRATED TELECOMMUNICATION SERVICES--1.2% Fairpoint Communications, Inc. 28,900 376 Iowa Telecommunications Services, Inc. 28,300 460 ------- 836 ------- INTERNET RETAIL--0.4% US Auto Parts Network, Inc. 36,000 292 ------- INTERNET SOFTWARE & SERVICES--4.8% CNET Networks, Inc. 14,200 130 comScore, Inc. 7,600 248 Equinix, Inc. 2,600 263 6
N-Q13th “Page” of 101TOC1stPreviousNextBottomJust 13th
Phoenix Market Neutral Fund VALUE SHARES (000) ------- ------- INTERNET SOFTWARE & SERVICES--(CONTINUED) Internap Network Services Corp. 40,000 $ 333 Internet Capital Group, Inc. 40,200 472 Interwoven, Inc. 24,600 350 Knot, Inc. (The) 32,200 513 Liquidity Services, Inc. 34,200 441 Move, Inc. 157,700 386 TechTarget, Inc. 9,200 136 ------- 3,272 ------- IT CONSULTING & OTHER SERVICES--0.9% Lionbridge Technologies, Inc. 44,200 157 Ness Technologies, Inc. 19,100 176 Sapient Corp. 28,300 250 ------- 583 ------- LEISURE PRODUCTS--2.0% MarineMax, Inc. 31,600 490 Nautilus Group, Inc. (The) 86,800 421 Steinway Musical Instruments, Inc. 15,100 416 ------- 1,327 ------- LIFE & HEALTH INSURANCE--0.7% Conseco, Inc. 37,000 465 ------- MORTGAGE REITS--0.3% Redwood Trust, Inc. 6,500 223 ------- MOVIES & ENTERTAINMENT--0.1% Lakes Entertainment, Inc. 5,900 41 ------- MULTI-SECTOR HOLDINGS--0.2% Resource America, Inc. 9,400 138 ------- MULTI-UTILITIES--1.5% Avista Corp. 24,400 525 Integrys Energy Group, Inc. 9,400 486 ------- 1,011 ------- OFFICE ELECTRONICS--0.7% Zebra Technologies Corp. Class A 13,000 451 ------- OFFICE REITS--1.4% Franklin Street Properties Corp. Class C 26,700 395 Maguire Properties, Inc. 17,700 522 ------- 917 ------- OFFICE SERVICES & SUPPLIES--0.8% Pitney Bowes, Inc. 13,300 506 ------- VALUE SHARES (000) ------- ------- OIL & GAS EQUIPMENT & SERVICES--0.7% ION Geophysical Corp. 28,900 $ 456 ------- OIL & GAS EXPLORATION & PRODUCTION--4.3% CNX Gas Corp. 16,400 524 EXCO Resources, Inc. 34,800 539 Newfield Exploration Co. 8,600 453 Parallel Petroleum Corp. 21,400 377 Southwestern Energy Co. 9,200 513 TXCO Resources, Inc. 43,700 527 ------- 2,933 ------- PACKAGED FOODS & MEATS--1.6% Lancaster Colony Corp. 11,100 440 Maui Land & Pineapple Co., Inc. 5,600 163 Tootsie Roll Industries, Inc. 16,400 450 ------- 1,053 ------- PAPER PACKAGING--1.0% Bemis Co., Inc. 17,100 468 Temple-Inland, Inc. 10,400 217 ------- 685 ------- PAPER PRODUCTS--0.5% AbitibiBowater, Inc. 17,472 360 ------- PERSONAL PRODUCTS--0.3% Bare Escentuals, Inc. 7,200 175 ------- PHARMACEUTICALS--0.6% Medicines Co. (The) 20,900 400 ------- PROPERTY & CASUALTY INSURANCE--2.3% Fidelity National Financial, Inc. Class A 30,300 443 PMA Capital Corp. Class A 26,300 216 Stewart Information Services Corp. 16,500 431 Wesco Financial Corp. 1,200 488 ------- 1,578 ------- PUBLISHING--0.1% McClatchy Co. (The) Class A 3,300 41 ------- REAL ESTATE MANAGEMENT & DEVELOPMENT--0.8% Forest City Enterprises, Inc. Class A 10,500 466 Forestar Real Estate Group, Inc. 3,466 82 ------- 548 ------- REGIONAL BANKS--2.9% Capital Corp of the West 17,300 336 Fifth Third Bancorp 6,700 168 7
N-Q14th “Page” of 101TOC1stPreviousNextBottomJust 14th
Phoenix Market Neutral Fund VALUE SHARES (000) ------- ------- REGIONAL BANKS--(CONTINUED) FNB Corp. 22,900 $ 337 Investors Bancorp, Inc. 35,100 496 Irwin Financial Corp. 51,700 380 National City Corp. 16,200 267 ------- 1,984 ------- RESIDENTIAL REITS--0.3% Equity Residential 6,000 219 RESTAURANTS--0.5% Panera Bread Co. Class A 5,400 194 Peet's Coffee & Tea, Inc. 4,100 119 ------- 313 ------- SEMICONDUCTOR EQUIPMENT--1.4% Axcelis Technologies, Inc. 67,800 312 Semitool, Inc. 32,300 280 Veeco Instruments, Inc. 20,300 339 ------- 931 ------- SEMICONDUCTORS--3.3% Cirrus Logic, Inc. 63,700 336 Integrated Device Technology, Inc. 5,500 62 LSI Corp. 69,100 367 PLX Technology, Inc. 15,100 141 Rambus, Inc. 22,700 475 SiRF Technology Holdings, Inc. 19,700 495 Volterra Semiconductor Corp. 31,600 349 ------- 2,225 ------- SPECIALIZED CONSUMER SERVICES--0.7% Block (H&R), Inc. 26,200 487 ------- SPECIALIZED FINANCE--0.2% Nymex Holdings, Inc. 1,000 134 ------- SPECIALIZED REITS--1.2% Healthcare Realty Trust, Inc. 20,400 518 VALUE SHARES (000) ------- ------- SPECIALIZED REITS--(CONTINUED) Public Storage, Inc. 3,600 $ 264 ------- 782 ------- SPECIALTY CHEMICALS--2.0% Ferro Corp. 23,700 491 Flotek Industries, Inc. 13,100 472 Symyx Technologies, Inc. 49,400 380 ------- 1,343 ------- SPECIALTY STORES--0.7% Zale Corp. 28,700 461 ------- STEEL--0.2% Universal Stainless & Alloy 3,900 139 ------- SYSTEMS SOFTWARE--0.6% Quality Systems, Inc. 14,300 436 ------- THRIFTS & MORTGAGE FINANCE--0.8% BankFinancial Corp. 13,200 209 Berkshire Hills Bancorp, Inc. 1,400 36 Guaranty Financial Group, Inc. 3,467 55 NewAlliance Bancshares, Inc. 18,200 210 ------- 510 ------- TRADING COMPANIES & DISTRIBUTORS--0.9% Electro Rent Corp. 23,900 355 NuCo2, Inc. 10,300 256 ------- 611 ------- WIRELESS TELECOMMUNICATION SERVICES--0.7% American Tower Corp. Class A 11,700 498 ------- ------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS SOLD SHORT (PROCEEDS $64,082) 56,421 ------------------------------------------------------------------------- TOTAL SECURITIES SOLD SHORT (PROCEEDS $64,082) 56,421(f) ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized depreciation of investment securities is comprised of gross appreciation of $3,542 and gross depreciation of $5,969 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $69,522. (b) Non-income producing. (c) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (d) The rate shown is the discount rate. (e) Illiquid and restricted security. At December 31, 2007, this security amounted to a value of $0 or 0% of net assets. For acquisition information, see Note 2 "Illiquid and Restricted Securities" in the Notes to Schedules of Investments. (f) Federal Tax Information (reported in 000's): Net unrealized appreciation of securities sold short is comprised of gross appreciation of $8,684, and gross depreciation of $1,744 for federal income tax purposes. At December 31, 2007, the aggregate proceeds of securities sold short for federal income tax purposes was $63,361. 8
N-Q15th “Page” of 101TOC1stPreviousNextBottomJust 15th
Phoenix Real Estate Securities Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) --------- ---------- DOMESTIC COMMON STOCKS--97.7% REAL ESTATE INVESTMENT TRUSTS--97.7% DIVERSIFIED--4.7% Vornado Realty Trust 563,557 $ 49,565 ---------- HEALTH CARE--12.0% Health Care Property Investors, Inc. 972,400 33,820 Health Care REIT, Inc. 730,290 32,637 Nationwide Health Properties, Inc. 436,860 13,704 Ventas, Inc. 1,028,669 46,547 ------------------------------------------------------------------------- TOTAL HEALTH CARE 126,708 ------------------------------------------------------------------------- INDUSTRIAL/OFFICE--26.8% INDUSTRIAL--9.8% AMB Property Corp. 452,549 26,049 DCT Industrial Trust, Inc. 476,054 4,432 Prologis 1,155,947 73,264 ---------- 103,745 ---------- MIXED--1.6% Duke Realty Corp. 553,780 14,442 PS Business Parks, Inc. 48,613 2,555 ---------- 16,997 ---------- OFFICE--15.4% Alexandria Real Estate Equities, Inc. 474,899 48,283 Boston Properties, Inc. 413,483 37,962 Corporate Office Properties Trust 1,006,284 31,698 Douglas Emmett, Inc. 143,840 3,252 Kilroy Realty Corp. 112,957 6,208 SL Green Realty Corp. 376,608 35,198 ---------- 162,601 ------------------------------------------------------------------------- TOTAL INDUSTRIAL/OFFICE 283,343 ------------------------------------------------------------------------- LODGING/RESORTS--7.0% DiamondRock Hospitality Co. 863,795 12,940 Host Hotels & Resorts, Inc. 2,284,355 38,925 LaSalle Hotel Properties 385,346 12,293 VALUE SHARES (000) --------- ---------- REAL ESTATE INVESTMENT TRUSTS--(CONTINUED) Sunstone Hotel Investors, Inc. 532,117 $ 9,732 ------------------------------------------------------------------------- TOTAL LODGING/RESORTS 73,890 ------------------------------------------------------------------------- RESIDENTIAL--10.0% APARTMENTS--10.0% AvalonBay Communities, Inc. 279,316 26,295 BRE Properties, Inc. 283,060 11,472 Equity Residential 736,649 26,866 Essex Property Trust, Inc. 288,822 28,157 United Dominion Realty Trust, Inc. 689,509 13,687 ---------- 106,477 ------------------------------------------------------------------------- TOTAL RESIDENTIAL 106,477 ------------------------------------------------------------------------- RETAIL--28.4% REGIONAL MALLS--16.0% General Growth Properties, Inc. 1,059,029 43,611 Macerich Co. (The) 496,475 35,279 Simon Property Group, Inc. 1,038,275 90,185 ---------- 169,075 ---------- SHOPPING CENTERS--12.4% Developers Diversified Realty Corp. 634,180 24,283 Federal Realty Investment Trust 280,070 23,008 Kimco Realty Corp. 1,048,682 38,172 Regency Centers Corp. 400,431 25,824 Tanger Factory Outlet Centers, Inc. 521,730 19,674 ---------- 130,961 ------------------------------------------------------------------------- TOTAL RETAIL 300,036 ------------------------------------------------------------------------- SELF STORAGE--4.6% Extra Space Storage, Inc. 1,190,293 17,009 Public Storage, Inc. 431,633 31,686 ------------------------------------------------------------------------- TOTAL SELF STORAGE 48,695 ------------------------------------------------------------------------- SPECIALTY--4.2% Digital Realty Trust, Inc. 1,150,183 44,133 ---------- 1
N-Q16th “Page” of 101TOC1stPreviousNextBottomJust 16th
------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $803,306) 1,032,847 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--97.7% (IDENTIFIED COST $803,306) 1,032,847 PAR VALUE VALUE (000) (000) --------- ---------- SHORT-TERM INVESTMENTS--2.5% FEDERAL AGENCY SECURITIES(b)--2.5% FFCB 3.500% due 1/9/08 $ 5,000 $ 4,996 FHLB 4.170% due 1/2/08 2,415 2,415 4.240% due 1/2/08 4,355 4,354 4.260% due 1/4/08 3,115 3,114 4.350% due 1/7/08 5,000 4,996 FNMA 4.292% due 1/14/08 2,000 1,997 4.100% due 1/15/08 5,065 5,057 ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $26,929) 26,929 ------------------------------------------------------------------------- TOTAL INVESTMENTS--100.2% (IDENTIFIED COST $830,235) 1,059,776(a) Other assets and liabilities, net--(0.2)% (2,256) ---------- NET ASSETS--100.0% $1,057,520 ========== (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $232,439 and gross depreciation of $19,786 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $847,123. (b) The rate shown is the discount rate. 2
N-Q17th “Page” of 101TOC1stPreviousNextBottomJust 17th
Phoenix Diversifier PHOLIO SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) --------- ---------- MUTUAL FUNDS--55.2% DOMESTIC EQUITY FUNDS(c)--34.6% Phoenix Market Neutral Fund Class A 3,144,195 $ 32,542 Phoenix Real Estate Securities Fund Class A 1,350,845 38,972 -------- 71,514 -------- FOREIGN EQUITY FUND(c)--20.6% Phoenix Global Utilities Fund Class A 3,013,249 42,638 ------------------------------------------------------------------------- TOTAL MUTUAL FUNDS (IDENTIFIED COST $118,337) 114,152 ------------------------------------------------------------------------- EXCHANGE TRADED FUNDS--44.2% iShares S&P GSSI Natural Resources Index Fund 163,135 21,922 PowerShares DB Commodity Index Tracking Fund(b) 991,150 31,280 PowerShares DB G10 Currency Harvest Fund(b) 531,190 14,592 SPDR DJ Wilshire International Real Estate Exchange Tracking Fund 413,870 23,570 ------------------------------------------------------------------------- TOTAL EXCHANGE TRADED FUNDS (IDENTIFIED COST $81,296) 91,364 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--99.4% (IDENTIFIED COST $199,633) 205,516 PAR VALUE (000) --------- SHORT-TERM INVESTMENTS--0.6% COMMERCIAL PAPER(d)--0.6% Northern Illinois Gas Co. 4.000% due 1/2/08 $1,175 1,175 ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $1,175) 1,175 ------------------------------------------------------------------------- TOTAL INVESTMENTS--100.0% (IDENTIFIED COST $200,808) 206,691(a) Other assets and liabilities, net--0.0% (55) -------- NET ASSETS--100.0% $206,636 ======== (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $14,199 and gross depreciation of $9,990 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $202,482. (b) Non-income producing. (c) Affiliated Fund. (d) The rate shown is the discount rate. 1
N-Q18th “Page” of 101TOC1stPreviousNextBottomJust 18th
Phoenix Wealth Accumulator PHOLIO SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) --------- ------- MUTUAL FUNDS--99.5% DOMESTIC EQUITY FUNDS(c)--70.5% Phoenix Capital Growth Fund Class A(b) 63,261 $ 1,096 Phoenix Growth & Income Fund Class A 112,150 2,054 Phoenix Growth Opportunities Fund Class A(b) 63,286 1,049 Phoenix Market Neutral Fund Class A 89,928 931 Phoenix Mid-Cap Value Fund Class A 27,136 636 Phoenix Quality Small-Cap Fund Class A 29,667 332 Phoenix Real Estate Securities Fund Class A 19,593 565 Phoenix Small-Cap Growth Fund Class A(b) 9,247 344 Phoenix Small-Cap Sustainable Growth Fund Class A(b) 33,282 337 Phoenix Small-Cap Value Fund Class A(b) 25,424 329 Phoenix Value Opportunities Fund Class A 160,172 2,000 ------- 9,673 ------- FOREIGN EQUITY FUNDS(c)--29.0% Phoenix Foreign Opportunities Fund Class A 41,369 1,199 Phoenix Global Utilities Fund Class A 38,106 539 Phoenix International Real Estate Securities Fund Class A 67,554 593 Phoenix International Strategies Fund Class A 109,752 1,657 ------- 3,988 ------- ------------------------------------------------------------------------- TOTAL MUTUAL FUNDS (IDENTIFIED COST $12,795) 13,661 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--99.5% (IDENTIFIED COST $12,795) 13,661 TOTAL INVESTMENTS--99.5% (IDENTIFIED COST $12,795) 13,661(a) Other assets and liabilities, net--0.5% 69 ------- NET ASSETS--100.0% $13,730 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $1,099 and gross depreciation of $288 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $12,850. (b) Non-income producing. (c) Affiliated Fund. 1
N-Q19th “Page” of 101TOC1stPreviousNextBottomJust 19th
Phoenix Wealth Builder PHOLIO SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) --------- -------- MUTUAL FUNDS--99.5% DOMESTIC EQUITY FUNDS(c)--55.5% Phoenix Capital Growth Fund Class A(b) 426,256 $ 7,383 Phoenix Growth & Income Fund Class A 774,913 14,196 Phoenix Growth Opportunities Fund Class A(b) 450,011 7,457 Phoenix Market Neutral Fund Class A 843,329 8,728 Phoenix Mid-Cap Value Fund Class A 200,243 4,694 Phoenix Quality Small-Cap Fund Class A 210,355 2,352 Phoenix Real Estate Securities Fund Class A 170,573 4,921 Phoenix Small-Cap Growth Fund Class A(b) 70,648 2,632 Phoenix Small-Cap Sustainable Growth Fund Class A(b) 236,744 2,396 Phoenix Small-Cap Value Fund Class A(b) 198,882 2,573 Phoenix Value Opportunities Fund Class A 1,091,339 13,631 -------- 70,963 -------- FOREIGN EQUITY FUNDS(c)--23.7% Phoenix Foreign Opportunities Fund Class A 267,844 7,762 Phoenix Global Utilities Fund Class A 357,894 5,064 Phoenix International Real Estate Securities Fund Class A 570,864 5,007 Phoenix International Strategies Fund Class A 830,979 12,548 -------- 30,381 -------- DOMESTIC FIXED INCOME FUNDS(c)--20.3% Phoenix Bond Fund Class A 1,004,211 10,383 Phoenix Insight High Yield Bond Fund Class A 205,558 2,438 Phoenix Institutional Bond Fund Class Y 340,053 10,518 Phoenix Multi-Sector Short Term Bond Fund Class A 576,494 2,681 -------- 26,020 -------- ------------------------------------------------------------------------- TOTAL MUTUAL FUNDS (IDENTIFIED COST $113,546) 127,364 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--99.5% (IDENTIFIED COST $113,546) 127,364 -------- PAR VALUE VALUE (000) (000) --------- -------- SHORT-TERM INVESTMENTS--0.2% COMMERCIAL PAPER(d)--0.2% Northern Illinois Gas Co. 4.000% due 1/2/08 $220 $ 220 ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $220) 220 -------- TOTAL INVESTMENTS--99.7% (IDENTIFIED COST $113,766) 127,584(a) Other assets and liabilities, net--0.3% 371 -------- NET ASSETS--100.0% $127,955 ======== (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $15,770 and gross depreciation of $2,569 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $114,383. (b) Non-income producing. (c) Affiliated Funds. (d) The rate shown is the discount rate. 1
N-Q20th “Page” of 101TOC1stPreviousNextBottomJust 20th
Phoenix Wealth Guardian PHOLIO SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) --------- ------- MUTUAL FUNDS--99.6% DOMESTIC EQUITY FUNDS(c)--44.1% Phoenix Capital Growth Fund Class A(b) 161,363 $ 2,795 Phoenix Growth & Income Fund Class A 283,097 5,186 Phoenix Growth Opportunities Fund Class A(b) 160,493 2,659 Phoenix Market Neutral Fund Class A 350,465 3,627 Phoenix Mid-Cap Value Fund Class A 72,192 1,692 Phoenix Quality Small-Cap Fund Class A 76,693 858 Phoenix Real Estate Securities Fund Class A 51,285 1,480 Phoenix Small-Cap Growth Fund Class A(b) 24,669 919 Phoenix Small-Cap Sustainable Growth Fund Class A(b) 86,296 873 Phoenix Small-Cap Value Fund Class A(b) 66,443 860 Phoenix Value Opportunities Fund Class A 433,932 5,420 ------- 26,369 ------- FOREIGN EQUITY FUNDS(c)--16.0% Phoenix Foreign Opportunities Fund Class A 82,940 2,403 Phoenix Global Utilities Fund Class A 85,484 1,210 Phoenix International Real Estate Securities Fund Class A 161,810 1,419 Phoenix International Strategies Fund Class A 301,385 4,551 ------- 9,583 ------- DOMESTIC FIXED INCOME FUNDS(c)--39.5% Phoenix Bond Fund Class A 938,031 9,699 Phoenix Insight High Yield Bond Fund Class A 194,982 2,313 Phoenix Institutional Bond Fund Class Y 301,452 9,324 Phoenix Multi-Sector Short Term Bond Fund Class A 494,857 2,301 ------- 23,637 ------- ------------------------------------------------------------------------- TOTAL MUTUAL FUNDS (IDENTIFIED COST $55,161) 59,589 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--99.6% (IDENTIFIED COST $55,161) 59,589 ------- TOTAL INVESTMENTS--99.6% (IDENTIFIED COST $55,161) 59,589(a) Other assets and liabilities, net--0.4% 244 ------- NET ASSETS--100.0% $59,833 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $5,101 and gross depreciation of $1,093 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $55,581. (b) Non-income producing. (c) Affiliated Fund. 1
N-Q21st “Page” of 101TOC1stPreviousNextBottomJust 21st
Phoenix Bond Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) PAR VALUE VALUE (000) (000) --------- -------- U.S. GOVERNMENT SECURITIES--14.3% U.S. TREASURY BONDS--1.1% U.S. Treasury Bond 6.250% due 8/15/23 $ 775 $ 928 ------- U.S. TREASURY NOTES--13.2% U.S. Treasury Note 4.875% due 5/15/09 5,375 5,502 4.875% due 6/30/12 2,950 3,129 4.750% due 8/15/17 2,165 2,286 ------- 10,917 ------------------------------------------------------------------------- TOTAL U.S. GOVERNMENT SECURITIES (IDENTIFIED COST $11,367) 11,845 ------------------------------------------------------------------------- AGENCY MORTGAGE-BACKED SECURITIES--36.3% FHLMC 7.500% due 7/1/09 7 7 7.500% due 4/1/14 46 50 7.000% due 4/1/16 32 33 7.000% due 1/1/33 281 295 5.525% due 2/1/34(c) 148 150 FHLMC 2503 B 5.500% due 9/15/17 295 300 FHLMC 2764 HW 5.000% due 3/15/19 455 450 FNMA 7.000% due 5/1/14 34 36 8.000% due 1/1/15 6 6 5.000% due 12/1/22 2,745 2,748 5.000% due 12/1/22 2,755 2,758 7.154% due 7/1/33(c) 90 90 6.906% due 9/1/33(c) 70 71 6.729% due 11/1/33(c) 145 148 6.363% due 12/1/33(c) 71 72 5.562% due 3/1/34(c) 125 127 5.536% due 4/1/34(c) 132 134 4.500% due 1/1/35 461 436 5.269% due 5/1/35(c) 3,366 3,400 5.000% due 2/1/37 6,022 5,878 5.500% due 2/1/37 7,491 7,481 PAR VALUE VALUE (000) (000) --------- ------ 5.000% due 3/1/37 $5,597 $5,461 ------------------------------------------------------------------------- TOTAL AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $30,006) 30,131 ------------------------------------------------------------------------- DOMESTIC CORPORATE BONDS--26.7% AEROSPACE & DEFENSE--0.6% Honeywell International, Inc. 5.625% due 8/1/12 225 233 L-3 Communications Corp. 5.875% due 1/15/15 60 58 United Technologies Corp. 4.875% due 5/1/15 215 212 ------- 503 ------- APPAREL, ACCESSORIES & LUXURY GOODS--0.1% Levi Strauss & Co. 9.750% due 1/15/15 60 60 ------- APPLICATION SOFTWARE--0.2% Intuit, Inc. 5.750% due 3/15/17 155 153 ------- ASSET MANAGEMENT & CUSTODY BANKS--0.1% Janus Capital Group, Inc. 6.250% due 6/15/12 120 123 ------- AUTOMOBILE MANUFACTURERS--0.3% DaimlerChrysler NA Holding Corp. 5.750% due 9/8/11 225 228 ------- AUTOMOTIVE RETAIL--0.1% Hertz Corp.(The) 8.875% due 1/1/14 85 87 ------- BROADCASTING & CABLE TV--0.3% Clear Channel Communications, Inc. 7.650% due 9/15/10 155 159 EchoStar DBS Corp. 7.125% due 2/1/16 40 41 United Artists Theatre Circuit, Inc. Series BD-1 9.300% due 7/1/15(e) 10 10 ------- 210 ------- 1
N-Q22nd “Page” of 101TOC1stPreviousNextBottomJust 22nd
Phoenix Bond Fund PAR VALUE VALUE (000) (000) --------- ------- BUILDING PRODUCTS--0.1% Gibraltar Industries, Inc. Series B 8.000% due 12/1/15 $ 10 $ 9 Goodman Global Holdings, Inc. 7.875% due 12/15/12 85 88 ------- 97 ------- CASINOS & GAMING--0.2% American Real Estate Partners LP/American Real Estate Finance Corp. 7.125% due 2/15/13 85 80 MGM MIRAGE 6.750% due 9/1/12 50 49 6.625% due 7/15/15 20 19 7.625% due 1/15/17 15 15 OED Corp./Diamond JO LLC 8.750% due 4/15/12 30 30 ------- 193 ------- COAL & CONSUMABLE FUELS--0.1% Arch Western Finance LLC 6.750% due 7/1/13 65 63 ------- COMMERCIAL PRINTING--0.3% Donnelley (R.R.) & Sons Co. 5.625% due 1/15/12 105 105 6.125% due 1/15/17 105 104 ------- 209 ------- COMMUNICATIONS EQUIPMENT--0.8% Cisco Systems, Inc. 5.500% due 2/22/16 640 651 Dycom Industries, Inc. 8.125% due 10/15/15 40 40 ------- 691 ------- CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS--0.1% Ahern Rentals, Inc. 9.250% due 8/15/13 85 72 ------- CONSUMER FINANCE--1.7% American Express Co. 6.150% due 8/28/17 145 149 American General Finance Corp. 4.000% due 3/15/11 450 437 5.750% due 9/15/16 180 169 Capital One Financial Corp. PAR VALUE VALUE (000) (000) --------- ------- CONSUMER FINANCE--(CONTINUED) 5.700% due 9/15/11 $ 215 $ 208 6.150% due 9/1/16 260 231 Ford Motor Credit Co. LLC 7.000% due 10/1/13 40 33 GMAC LLC 6.750% due 12/1/14 205 165 ------- 1,392 ------- DATA PROCESSING & OUTSOURCED SERVICES--0.5% First Data Corp. 144A 9.875% due 9/24/15(b) 90 84 Fiserv, Inc. 6.125% due 11/20/12 345 351 ------- 435 ------- DIVERSIFIED BANKS--0.3% Wells Fargo & Co. 5.125% due 9/15/16 275 267 ------- DIVERSIFIED CAPITAL MARKETS--0.3% UBS Preferred Funding Trust V 6.243% due 5/29/49(c) 260 250 ------- DIVERSIFIED CHEMICALS--0.0% Huntsman International LLC 7.875% due 11/15/14 15 16 7.375% due 1/1/15 20 21 ------- 37 ------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.3% FTI Consulting, Inc. 7.750% due 10/1/16 55 58 Harland Clarke Holdings Corp. 9.500% due 5/15/15 45 39 9.619% due 5/15/15(c) 40 34 International Lease Finance Corp. 5.625% due 9/20/13 130 130 ------- 261 ------- DIVERSIFIED METALS & MINING--0.2% Freeport-McMoRan Copper & Gold, Inc. (Indonesia) 8.375% due 4/1/17(d) 185 199 ------- ELECTRIC UTILITIES--1.2% Appalachian Power Co. 5.550% due 4/1/11 285 289 2
N-Q23rd “Page” of 101TOC1stPreviousNextBottomJust 23rd
Phoenix Bond Fund PAR VALUE VALUE (000) (000) --------- ------- ELECTRIC UTILITIES--(CONTINUED) Commonwealth Edison Co. 6.150% due 9/15/17 $ 105 $ 108 Florida Power Corp. 6.650% due 7/15/11 320 340 Nevada Power Co. Series R 6.750% due 7/1/37 110 114 Reliant Energy, Inc. 6.750% due 12/15/14 125 126 ------- 977 ------- FERTILIZERS & AGRICULTURAL CHEMICALS--0.2% Tronox Worldwide LLC/Tronox Finance Corp. 9.500% due 12/1/12 135 131 ------- FOOD RETAIL--0.5% Safeway, Inc. 6.500% due 3/1/11 425 445 Stater Brothers Holdings, Inc. 8.125% due 6/15/12 10 10 ------- 455 ------- GAS UTILITIES--0.2% Atmos Energy Corp. 6.350% due 6/15/17 190 193 ------- HEALTH CARE DISTRIBUTORS--0.1% McKesson Corp. 5.250% due 3/1/13 100 100 ------- HEALTH CARE EQUIPMENT--0.1% HCA, Inc. 9.250% due 11/15/16 110 116 ------- HEALTH CARE SERVICES--0.4% Fresenius Medical Care Capital Trust II 7.875% due 2/1/08 155 156 Omnicare, Inc. 6.875% due 12/15/15 60 56 Quest Diagnostics, Inc. 6.400% due 7/1/17 150 155 ------- 367 ------- HOME FURNISHINGS--0.6% Mohawk Industries, Inc. 5.750% due 1/15/11 150 154 6.125% due 1/15/16 355 355 ------- 509 ------- PAR VALUE VALUE (000) (000) --------- ------- HYPERMARKETS & SUPER CENTERS--0.2% Costco Wholesale Corp. 5.500% due 3/15/17 $ 165 $ 166 ------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.5% MidAmerican Energy Co. 5.650% due 7/15/12 145 150 5.800% due 10/15/36 245 238 ------- 388 ------- INTEGRATED OIL & GAS--1.6% Conoco Funding Co. 6.350% due 10/15/11 1,000 1,062 ConocoPhillips Canada Funding Co. 5.625% due 10/15/16 230 237 ------- 1,299 ------- INTEGRATED TELECOMMUNICATION SERVICES--1.0% AT&T, Inc. 6.250% due 3/15/11 420 437 Hughes Network Systems LLC/Hughes Network Systems Finance Corp. 9.500% due 4/15/14 100 102 Qwest Corp. 8.875% due 3/15/12 85 91 6.500% due 6/1/17 95 91 Telcordia Technologies, Inc. 144A(b) 8.008% due 7/15/12(c) 60 54 10.000% due 3/15/13 50 40 ------- 815 ------- INVESTMENT BANKING & BROKERAGE--0.6% Lehman Brothers Holdings, Inc. 5.750% due 1/3/17 240 230 Merrill Lynch & Co. 6.400% due 8/28/17 240 244 ------- 474 ------- LIFE & HEALTH INSURANCE--0.9% Lincoln National Corp. 5.650% due 8/27/12 415 426 6.050% due 4/20/17(c) 50 47 Protective Life Secured Trust 4.000% due 4/1/11 300 300 ------- 773 ------- 3
N-Q24th “Page” of 101TOC1stPreviousNextBottomJust 24th
Phoenix Bond Fund PAR VALUE VALUE (000) (000) --------- ------- LIFE SCIENCES TOOLS & SERVICES--0.0% Fisher Scientific International, Inc. 6.125% due 7/1/15 $ 10 $ 10 ------- MANAGED HEALTH CARE--0.5% Wellpoint, Inc. 5.000% due 1/15/11 400 401 ------- METAL & GLASS CONTAINERS--0.0% AEP Industries, Inc. 7.875% due 3/15/13 25 24 ------- MOVIES & ENTERTAINMENT--0.3% Viacom, Inc. 5.750% due 4/30/11 225 228 ------- MULTI-LINE INSURANCE--0.8% American International Group, Inc. 5.850% due 1/16/18 240 241 Genworth Financial, Inc. 6.150% due 11/15/49(c) 135 123 Genworth Global Funding Trusts 5.125% due 3/15/11 160 162 Loews Corp. 5.250% due 3/15/16 170 170 ------- 696 ------- OFFICE REITS--0.1% Duke Realty LP 5.625% due 8/15/11 75 75 ------- OFFICE SERVICES & SUPPLIES--0.3% IKON Office Solutions, Inc. 7.750% due 9/15/15 235 246 ------- OIL & GAS EQUIPMENT & SERVICES--0.0% Seitel, Inc. 9.750% due 2/15/14 40 34 ------- OIL & GAS EXPLORATION & PRODUCTION--1.1% Chesapeake Energy Corp. 6.625% due 1/15/16 100 98 EOG Resources, Inc. 5.875% due 9/15/17 380 390 Pioneer Natural Resources Co. 6.650% due 3/15/17 50 48 6.875% due 5/1/18 50 49 PAR VALUE VALUE (000) (000) --------- ------- OIL & GAS EXPLORATION & PRODUCTION--(CONTINUED) Plains Exploration & Production Co. 7.000% due 3/15/17 $ 40 $ 38 XTO Energy, Inc. 5.900% due 8/1/12 295 306 ------- 929 ------- OIL & GAS STORAGE & TRANSPORTATION--0.4% Enbridge Energy Partners LP 5.875% due 12/15/16 120 119 Kinder Morgan Energy Partners LP 5.850% due 9/15/12 145 150 Pacific Energy Partners LP/Pacific Energy Finance Corp. 6.250% due 9/15/15 75 75 ------- 344 ------- OTHER DIVERSIFIED FINANCIAL SERVICES--2.8% Bank of America Corp. 5.750% due 8/15/16 395 396 Citigroup, Inc. 5.000% due 9/15/14 330 314 8.300% due 12/21/49(c) 260 272 ERAC USA Finance Co. 144A 6.375% due 10/15/17(b) 200 193 General Electric Capital Corp. 4.875% due 10/21/10 265 269 5.625% due 9/15/17 240 246 6.375% due 11/15/47(c) 260 268 JPMorgan Chase & Co. 5.750% due 1/2/13 350 357 ------- 2,315 ------- PACKAGED FOODS & MEATS--0.5% General Mills, Inc. 5.650% due 9/10/12 130 132 Kraft Foods, Inc. 6.500% due 8/11/17 245 254 Pilgrim's Pride Corp. 8.375% due 5/1/17 60 59 ------- 445 ------- PAPER PRODUCTS--0.2% Exopac Holding Corp. 11.250% due 2/1/14 45 44 4
N-Q25th “Page” of 101TOC1stPreviousNextBottomJust 25th
Phoenix Bond Fund PAR VALUE VALUE (000) (000) --------- ------- PAPER PRODUCTS--(CONTINUED) Mercer International, Inc. 9.250% due 2/15/13 $ 130 $ 120 ------- 164 ------- PHARMACEUTICALS--1.0% Johnson & Johnson 5.150% due 8/15/12 305 321 Wyeth 5.500% due 3/15/13 525 540 ------- 861 ------- PRECIOUS METALS & MINERALS--0.1% PNA Group, Inc. 10.750% due 9/1/16 55 52 PROPERTY & CASUALTY INSURANCE--0.8% Chubb Corp. 6.375% due 3/29/37(c) 165 161 CNA Financial Corp. 6.500% due 8/15/16 480 490 ------- 651 ------- PUBLISHING--0.1% Idearc, Inc. 8.000% due 11/15/16 85 78 ------- REGIONAL BANKS--0.3% SunTrust Banks, Inc. 6.000% due 9/11/17 240 241 ------- RESIDENTIAL REITS--0.7% AvalonBay Communities, Inc. 5.750% due 9/15/16 145 140 ERP Operating LP 5.375% due 8/1/16 270 255 5.750% due 6/15/17 165 157 ------- 552 ------- RESTAURANTS--0.6% Starbucks Corp. 6.250% due 8/15/17 480 498 ------- RETAIL REITS--0.3% Simon Property Group LP 5.600% due 9/1/11 235 236 ------- SEMICONDUCTORS--0.2% Amkor Technology, Inc. PAR VALUE VALUE (000) (000) --------- ------- SEMICONDUCTORS--(CONTINUED) 7.750% due 5/15/13 $ 105 $ 100 9.250% due 6/1/16 40 40 ------- 140 ------- SPECIALIZED REITS--0.2% Felcor Lodging LP 8.500% due 6/1/11 30 32 6.788% due 12/1/11(c) 95 93 Ventas Realty LP/Ventas Capital Corp. 6.750% due 4/1/17 20 20 ------- 145 ------- SPECIALTY STORES--0.1% Morris Publishing Group LLC 7.000% due 8/1/13 115 84 ------- TOBACCO--0.3% Alliance One International, Inc. 11.000% due 5/15/12 80 84 Reynolds American, Inc. 7.300% due 7/15/15 40 42 7.750% due 6/1/18 90 96 ------- 222 ------- TRUCKING--0.1% Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 7.750% due 5/15/16 90 85 ------- WIRELESS TELECOMMUNICATION SERVICES--0.2% Sprint Nextel Corp. 6.000% due 12/1/16 145 139 ------- ------------------------------------------------------------------------- TOTAL DOMESTIC CORPORATE BONDS (IDENTIFIED COST $22,136) 22,188 ------------------------------------------------------------------------- NON-AGENCY MORTGAGE-BACKED SECURITIES--10.2% Banc of America Commercial Mortgage, Inc. 00-1, A1A 7.109% due 11/15/31 55 55 Banc of America Funding Corp. 07-E, 6A1 6.203% due 7/1/47(c) 685 679 Banc of America Funding Corp. 07-E, 9A1 6.310% due 8/25/47(c) 1,369 1,360 Citigroup Mortgage Loan Trust, Inc. 04-NCM2, 2CB3 8.000% due 8/25/34 69 73 5
N-Q26th “Page” of 101TOC1stPreviousNextBottomJust 26th
Phoenix Bond Fund PAR VALUE VALUE (000) (000) --------- ------- HSBC Asset Loan Obligation 07-AR2, 4A1 6.123% due 9/25/37(c) $ 894 $ 878 Master Asset Securitization Trust Alternative Loans Trust 03-7, 5A1 6.250% due 11/25/33 172 171 Master Asset Securitization Trust Alternative Loans Trust 04-1, 3A1 7.000% due 1/25/34 125 128 Master Asset Securitization Trust Alternative Loans Trust 04-5, 6A1 7.000% due 6/25/34 84 85 Master Asset Securitization Trust Alternative Loans Trust 04-6, 6A1 6.500% due 7/25/34 528 539 Merrill Lynch Mortgage Trust 05-MCP1, A2 4.556% due 6/12/43 725 717 Morgan Stanley Mortgage Loan Trust 04-3, 3A 6.000% due 4/25/34 651 657 Residential Asset Mortgage Products, Inc. 04-SL3, A4 8.500% due 12/25/31 304 317 Washington Mutual Mortgage Pass-Through Certificates 07-HY3, 3A3 5.858% due 3/25/37(c) 2,879 2,829 ------------------------------------------------------------------------- TOTAL NON-AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $8,563) 8,488 ------------------------------------------------------------------------- FOREIGN CORPORATE BONDS(d)--7.6% CANADA--2.1% Canadian Natural Resources Ltd. 6.500% due 2/15/37 310 311 CHC Helicopter Corp. 7.375% due 5/1/14 60 57 Husky Energy, Inc. 6.200% due 9/15/17 275 282 Norampac Industries, Inc. 6.750% due 6/1/13 85 78 Russel Metals, Inc. 6.375% due 3/1/14 125 116 Suncor Energy, Inc. 6.500% due 6/15/38 205 219 TransCanada Pipelines Ltd. 6.350% due 5/15/49(c) 105 98 Xstrata Finance (Canada) Ltd. 144A 5.800% due 11/15/16(b) 370 363 PAR VALUE VALUE (000) (000) --------- ------- CANADA--(CONTINUED) Xstrata Finance (Canada) Ltd. 144A 6.900% due 11/15/37(b) $ 255 $ 254 ------- 1,778 ------- CHILE--0.3% Celulosa Arauco y Constitucion S.A. 5.625% due 4/20/15 235 230 ------- CHINA--0.1% NXP BV/NXP Funding LLC 7.875% due 10/15/14 20 19 9.500% due 10/15/15 50 46 ------- 65 ------- ITALY--0.2% Telecom Italia Capital S.A. 5.250% due 10/1/15 155 151 ------- JAPAN--0.7% MUFG Capital Finance 1 Ltd. 6.346% due 7/25/36(c) 290 274 Resona Bank Ltd. 144A 5.850% due 9/29/49(b) (c) 345 321 ------- 595 ------- LUXEMBOURG--0.4% Tyco Electronic Group SA 144A 6.000% due 10/1/12(b) 285 292 ------- NETHERLANDS--0.6% ING Groep N.V. 5.775% due 12/8/49(c) 535 495 ------- SINGAPORE--0.1% Avago Technologies Finance Pte/Avago Technologies US/Avago Technologies Wireless 10.125% due 12/1/13 55 58 ------- SPAIN--1.0% Santander Issuances S.A. 144A 5.911% due 6/20/16(b) 410 418 Telefonica Emisiones S.A. 5.984% due 6/20/11 435 447 ------- 865 ------- SWITZERLAND--0.3% Credit Suisse Guernsey Ltd. 5.860% due 11/15/49(c) 275 246 ------- 6
N-Q27th “Page” of 101TOC1stPreviousNextBottomJust 27th
Phoenix Bond Fund PAR VALUE VALUE (000) (000) --------- ------- UNITED KINGDOM--1.0% Diageo Capital plc 5.750% due 10/23/17 $ 145 $ 146 HBOS plc 144A 6.657% due 11/21/49(b) (c) 400 331 Ineos Group Holdings plc 144A 8.500% due 2/15/16(b) 60 54 Royal Bank of Scotland 144A 6.990% due 10/29/49(b) (c) 335 334 ------- 865 ------- UNITED STATES--0.8% Shell International Finance BV 5.625% due 6/27/11 190 198 Stratos Global Corp. 9.875% due 2/15/13 75 80 WEA Finance LLC/WCI Finance LLC 144A 5.700% due 10/1/16(b) 375 359 ------- 637 ------- ------------------------------------------------------------------------- TOTAL FOREIGN CORPORATE BONDS (IDENTIFIED COST $6,448) 6,277 ------------------------------------------------------------------------- DOMESTIC CONVERTIBLE PREFERRED STOCKS--0.6% SHARES ------ DIVERSIFIED BANKS--0.3% Bank of America Corp. Cv. Pfd 6.625% 10,000 237 ------- THRIFTS & MORTGAGE FINANCE--0.3% Freddie Mac Cv. Pfd 6.55% 10,400 242 ------- ------------------------------------------------------------------------- TOTAL DOMESTIC CONVERTIBLE PREFERRED STOCKS (IDENTIFIED COST $510) 479 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--95.7% (IDENTIFIED COST $79,030) 79,408 ------- SHORT-TERM INVESTMENTS--3.5% PAR VALUE (000) --------- FEDERAL AGENCY SECURITIES(f)--3.5% FHLB 3.150% due 1/2/08 $2,000 2,000 2.500% due 1/3/08 900 900 ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $2,900) 2,900 ------------------------------------------------------------------------- TOTAL INVESTMENTS--99.2% (IDENTIFIED COST $81,930) 82,308(a) Other assets and liabilities, net--0.8% 675 ------- NET ASSETS--100.0% $82,983 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $978 and gross depreciation of $666 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $81,996. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $3,097 (reported in 000's) or 3.7% of net assets. (c) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (d) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (e) Illiquid Security. (f) The rate shown is the discount rate. 7
N-Q28th “Page” of 101TOC1stPreviousNextBottomJust 28th
Phoenix CA Tax-Exempt Bond Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) PAR VALUE VALUE (000) (000) --------- ------- MUNICIPAL TAX-EXEMPT BONDS(d)--98.4% DEVELOPMENT REVENUE--5.7% Hercules Redevelopment Agency Tax-Allocation (AMBAC Insured) 5.000% due 8/1/29 $ 500 $ 512 Los Angeles Community Redevelopment Agency, Series A (AMBAC/FHA Insured) 6.550% due 1/1/27 100 100 Ontario Redevelopment Financing Authority, Project No. 1(MBIA Insured) 6.900% due 8/1/10 70 77 5.250% due 8/1/13 500 536 San Diego Redevelopment Agency, Center City Series A (AMBAC Insured) 4.750% due 9/1/30 500 500 San Diego Redevelopment Agency, Center City Series B (AMBAC Insured) 5.350% due 9/1/24 1,000 1,055 Santa Clara Redevelopment Agency Tax Allocation (MBIA Insured) 5.000% due 6/1/22 1,000 1,041 ------- 3,821 ------- EDUCATION REVENUE--3.2% North City West School Facilities Financing Authority, Series B (AMBAC Insured) 5.250% due 9/1/19 1,000 1,115 Sweetwater Unified High School District, Public Financing Authority, Series A (FSA Insured) 5.000% due 9/1/29 1,000 1,036 ------- 2,151 ------- GENERAL OBLIGATION--18.5% Antelope Valley Union High School District, Series A (MBIA Insured) 5.000% due 2/1/27 1,000 1,038 Brea & Olinda Unified School District, Series A (FGIC Insured) 6.000% due 8/1/15 150 174 PAR VALUE VALUE (000) (000) --------- ------- GENERAL OBLIGATION--(CONTINUED) Butte-Glenn Community College District, Series A (MBIA Insured) 5.500% due 8/1/19 $1,000 $ 1,098 California State 6.250% due 4/1/08 825 831 5.250% due 6/1/16 65 66 5.000% due 2/1/20 750 780 5.000% due 11/1/32 700 708 5.000% due 12/1/37 250 252 California State Veterans Bonds, Series BG 5.150% due 12/1/14 895 912 California State Veterans Bonds, Series CC 4.500% due 12/1/37 330 300 Desert Community College District (MBIA Insured) 5.000% due 8/1/18 990 1,067 Gilroy Unified School District (FGIC Insured) 5.000% due 8/1/27 500 516 Grossmont-Cuyamaca Community College, District Election of 2002, Series A (MBIA Insured) 5.000% due 8/1/19 250 265 Los Angeles Unified School District (MBIA Insured) 4.500% due 1/1/28 500 493 Metropolitan Water District Southern California, Series A 5.250% due 3/1/11 180 182 Santa Ana Unified School District (FGIC Insured) 5.700% due 8/1/22 400 427 Santa Clara Unified School District (FGIC Insured) 5.500% due 7/1/20 1,000 1,061 Walnut Valley Unified School District, Series A (MBIA Insured) 0% due 8/1/19 3,095 1,567 Wiseburn School District, Series A (MBIA Insured) 5.000% due 8/1/17 580 628 ------- 12,365 ------- GENERAL REVENUE--15.8% Anaheim Public Financing Authority, Series C (FSA Insured) 6.000% due 9/1/16 1,600 1,860 1
N-Q29th “Page” of 101TOC1stPreviousNextBottomJust 29th
Phoenix CA Tax-Exempt Bond Fund PAR VALUE VALUE (000) (000) --------- ------- GENERAL REVENUE--(CONTINUED) Beverly Hills Public Financing Authority 4.500% due 6/1/28 $ 500 $ 491 California State Public Works Board, Department of Health Services, Richmond Lab Series B (XLCA Insured) 5.000% due 11/1/17 460 493 California State Public Works Board, Highway Patrol Series C 5.250% due 11/1/20 500 520 Golden State Tobacco Securitization Corp. Series A-1 5.125% due 6/1/47 1,500 1,260 5.750% due 6/1/47 250 233 Los Angeles County Public Works Financing Authority, Series A (FSA Insured) 5.500% due 10/1/18 450 493 Pomona Certificates of Participation (AMBAC Insured) 5.500% due 6/1/28 1,365 1,484 San Diego County Certificates of Participation (AMBAC Insured) 5.250% due 11/1/15 960 1,024 San Jose Financing Authority, Series F (MBIA Insured) 5.000% due 9/1/15 1,000 1,057 South Bay Regional Public Communications Authority (ACA Insured) 4.750% due 1/1/31 635 531 South Coast Air Quality Management Corp. (AMBAC Insured) 6.000% due 8/1/11 1,000 1,084 ------- 10,530 ------- HIGHER EDUCATION REVENUE--3.1% California Educational Facilities Authority, Chapman University (Connie Lee Insured) 5.375% due 10/1/16 60 61 California State Public Works Board, University of California Series D 5.000% due 5/1/30 1,000 1,022 University of California Series B 4.750% due 5/15/38 500 501 PAR VALUE VALUE (000) (000) --------- ------- HIGHER EDUCATION REVENUE--(CONTINUED) University of California Series G (FGIC Insured) 4.750% due 5/15/35 $ 525 $ 522 ------- 2,106 ------- MEDICAL REVENUE--4.9% California Health Facilities Financing Authority, Cedars-Sinai Medical Center 5.000% due 11/15/34 500 492 California Health Facilities Financing Authority, Stanford Hospital and Clinics Series A 5.000% due 11/15/14 250 263 California Health Facilities Financing Authority, Sutter Health Series A 5.000% due 11/15/42 870 857 California State Public Works Board, Department of Mental Health Series A 5.500% due 6/1/16 1,000 1,093 San Joaquin General Hospital Project, Certificates of Participation (MBIA Insured) 5.250% due 9/1/12 100 104 Santa Clara County Financing Authority, Series A (AMBAC Insured) 7.750% due 11/15/11 400 463 ------- 3,272 ------- MUNICIPAL UTILITY DISTRICT REVENUE--2.1% Sacramento Municipal Utilities District, Financing Authority (MBIA Insured) 4.750% due 7/1/26 500 510 Sacramento Municipal Utility District, Series O (MBIA Insured) 5.250% due 8/15/15 310 330 Sacramento Municipal Utility District, Series P (FSA Insured) 5.250% due 8/15/17 500 531 ------- 1,371 ------- NATURAL GAS REVENUE--0.7% Roseville Natural Gas Financing Authority 5.000% due 2/15/24 500 487 ------- POWER REVENUE--5.5% Los Angeles Water and Power Series A -A-2, (MBIA insured) 5.000% due 7/1/19 760 808 2
N-Q30th “Page” of 101TOC1stPreviousNextBottomJust 30th
Phoenix CA Tax-Exempt Bond Fund PAR VALUE VALUE (000) (000) --------- ------- POWER REVENUE--(CONTINUED) Northern California Power Agency, Hydroelectric Project Series A (MBIA Insured) 5.000% due 7/1/15 $1,000 $ 1,017 5.200% due 7/1/32 1,120 1,139 Southern California Public Power Authority, Series B (FSA Insured) 5.000% due 7/1/12 635 683 ------- 3,647 ------- PRE-REFUNDED--28.4% Contra Costa County Home Mortgage (GNMA Collateralized) 7.500% due 5/1/14 (b) 500 610 Covina Community Redevelopment Agency 8.800% due 1/1/08(b) 60 60 Cypress Single Family Residential Mortgage, Series B (Private Mortgage Insurance) 7.250% due 1/1/12 (b) 200 230 Duarte Redevelopment Agency Single Family Mortgage, Series A (FNMA Collateralized) 6.875% due 11/1/11 (b) 300 341 Huntington Park Redevelopment Agency Single Family Residential Mortgage, Series A (FHA/VA/PRIV MTGS Insured) 8.000% due 12/1/19 (b) 2,400 3,352 Los Angeles Harbor Department 7.600% due 10/1/18(b) 895 1,096 Lucia Mar Unified School District, Election of 2004 Series A, Prerefunded 8/1/14 @ 100 (FGIC Insured) 5.000% due 8/1/27 1,000 1,099 M-S-R Public Power Agency San Juan Project Series D (MBIA Insured) 6.750% due 7/1/20 (b) 1,835 2,160 Modesto Wastewater Treatment Facility (MBIA Insured) 6.000% due 11/1/12 (b) 735 828 Northern California Power Agency Prerefunded 7/1/21 @ 100 (AMBAC Insured) 7.500% due 7/1/23 195 261 Pomona Unified School District Series C (MBIA Insured) 5.600% due 8/1/12 (b) 1,500 1,655 PAR VALUE VALUE (000) (000) --------- ------- PRE-REFUNDED--(CONTINUED) Riverside County Redevelopment Agency, Jurup Valley Project Area Tax-Allocation Prerefunded 10/01/11 @102 (AMBAC Insured) 5.250% due 10/1/17 $ 250 $ 273 Riverside County Single Family Series A (GNMA Collateralized) 7.800% due 5/1/21 (b) 4,000 5,463 Riverside County Single Family Series B (GNMA Collateralized) 8.625% due 5/1/16 (b) 1,000 1,335 Stockton Housing Facility, O'Connor Woods Project Series A, Prerefunded 9/20/17 @ 100 (GNMA Collateralized) 5.600% due 3/20/28 200 201 ------- 18,964 ------- TRANSPORTATION REVENUE--1.4% Alameda Corridor Transportation Authority, Series A(MBIA Insured) 5.125% due 10/1/16 150 156 5.125% due 10/1/17 125 130 Los Angeles Harbor Department Revenue (MBIA Insured) 4.500% due 8/1/27 500 476 San Francisco Bay Area Rapid Transit District 5.250% due 7/1/17 180 183 ------- 945 ------- WATER & SEWER REVENUE--9.1% California Statewide Communities Development Authority, Anheuser-Bush Project 4.800% due 9/1/46 1,000 891 Delta Diablo Sanitation District, Certificates of Participation (MBIA Insured) 0% due 12/1/16 1,070 740 El Dorado Irrigation District, Certificates of Participation Series A (FGIC Insured) 5.250% due 3/1/16 365 392 Metropolitan Water District of Southern California Waterworks Series B-3 (MBIA Insured) 5.000% due 10/1/29 1,000 1,044 Modesto Wastewater, Series A (FSA Insured) 5.000% due 11/1/19 245 263 3
N-Q31st “Page” of 101TOC1stPreviousNextBottomJust 31st
Phoenix CA Tax-Exempt Bond Fund PAR VALUE VALUE (000) (000) --------- ------- WATER & SEWER REVENUE--(CONTINUED) Mountain View Shoreline Regional Park Community, Series A (MBIA Insured) 5.500% due 8/1/21 $1,000 $ 1,012 Redlands Financing Authority, Series A (FSA Insured) 5.000% due 9/1/17 1,000 1,044 Sweetwater Water Authority (AMBAC Insured) 5.250% due 4/1/10 125 128 Westlands Water District, Certificates of Participation (MBIA Insured) 5.250% due 9/1/14 500 544 ------- 6,058 ------------------------------------------------------------------------- TOTAL MUNICIPAL TAX-EXEMPT BONDS (IDENTIFIED COST $63,263) 65,717 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--98.4% (IDENTIFIED COST $63,263) 65,717 ------- SHORT-TERM INVESTMENTS--0.5% COMMERCIAL PAPER(c)--0.5% Eaton Corp. 4.250% due 1/2/08 335 335 ------- ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $335) 335 ------------------------------------------------------------------------- TOTAL INVESTMENTS--98.9% (IDENTIFIED COST $63,598) 66,052(a) Other assets and liabilities, net--1.1% 762 ------- NET ASSETS--100.0% $66,814 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $3,042 and gross depreciation of $588 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $63,598. (b) Escrowed to maturity. (c) The rate shown is the discount rate. (d) At December 31, 2007, the concentration of the Fund's investments by state or territory determined as a percentage of net assets is as follows: California 99.5%. At December 31, 2007, 78.2% of the securities in the portfolio are backed by insurance of financial institutions and financial guaranty assurance agencies. Insurers with a concentration greater than 10% of net assets are as follows: MBIA 32.2%, AMBAC 12.0%, and GNMA 11.4%. 4
N-Q32nd “Page” of 101TOC1stPreviousNextBottomJust 32nd
Phoenix Core Bond Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) PAR VALUE VALUE (000) (000) --------- ------- U.S. GOVERNMENT SECURITIES--1.8% U.S. TREASURY BONDS--1.8% U.S. Treasury Bond 5.000% due 5/15/37(g) $1,065 $ 1,161 ------- U.S. TREASURY NOTES--0.0% U.S. Treasury Note 4.875% due 8/15/16(g) 25 26 ------- ------------------------------------------------------------------------- TOTAL U.S. GOVERNMENT SECURITIES (IDENTIFIED COST $1,154) 1,187 ------------------------------------------------------------------------- AGENCY MORTGAGE-BACKED SECURITIES--25.0% FHLMC 6.000% due 10/1/34 635 646 FNMA 6.000% due 10/1/14 434 444 6.500% due 6/1/16 293 303 6.000% due 7/1/17 125 128 5.500% due 9/1/17 325 330 5.000% due 4/1/20 430 431 4.500% due 5/1/20 813 799 5.000% due 8/1/21 321 321 6.000% due 5/1/29 269 275 6.500% due 7/1/29 407 422 6.500% due 5/1/30 9 10 7.500% due 3/1/31 170 181 7.000% due 7/1/31 123 129 7.000% due 9/1/31 200 211 6.500% due 2/1/32 421 435 6.500% due 3/1/32 211 218 5.500% due 4/1/33 257 257 5.500% due 6/1/33 1,511 1,512 5.500% due 7/1/33 3,206 3,208 5.000% due 9/1/33 369 360 5.000% due 7/1/35 303 296 5.500% due 12/1/35 334 334 6.000% due 6/1/36 444 451 6.500% due 8/1/36 608 625 6.000% due 9/1/36 624 634 5.500% due 4/1/37 258 258 PAR VALUE VALUE (000) (000) --------- ------- FNMA 04-W6, 1A4 5.500% due 7/25/34 $ 263 $ 263 GNMA 8.500% due 11/15/22 1 1 6.500% due 9/15/28 239 248 7.500% due 9/15/29 164 175 5.000% due 7/15/33 2,019 1,990 6.000% due 6/15/34 400 410 ------------------------------------------------------------------------- TOTAL AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $16,072) 16,305 ------------------------------------------------------------------------- AGENCY NON-MORTGAGE-BACKED SECURITIES--0.6% FHLB 6.000% due 6/29/22 200 207 FHLMC 5.200% due 3/5/19 200 200 ------------------------------------------------------------------------- TOTAL AGENCY NON-MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $394) 407 ------------------------------------------------------------------------- MUNICIPAL BONDS--7.1% FLORIDA--2.2% Broward County Series A 5.000% due 1/1/21 600 658 Miami-Dade County Educational Facilities Authority Taxable Series C 5.480% due 4/1/16 110 111 Orange County Tourist Development Taxable (MBIA Insured) 5.000% due 10/1/17 640 698 ------- 1,467 ------- ILLINOIS--1.0% Illinois State 5.000% due 1/1/19 580 636 ------- MASSACHUSETTS--0.9% Massachusetts State Series D 5.500% due 10/1/16 520 590 ------- MICHIGAN--0.4% Flat Rock Finance Authority Taxable Series A 6.750% due 10/1/16 95 101 1
N-Q33rd “Page” of 101TOC1stPreviousNextBottomJust 33rd
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- MICHIGAN--(CONTINUED) Michigan Tobacco Settlement Finance Authority Taxable Series A 7.309% due 6/1/34 $ 185 $ 174 ------- 275 ------- PENNSYLVANIA--0.9% City of Pittsburgh Pension Obligation Taxable Series C (FGIC Insured) 6.500% due 3/1/17 340 370 City of Reading Taxable (FSA Insured) 5.100% due 11/15/15 190 191 ------- 561 ------- RHODE ISLAND--1.6% Woonsocket Pension Funding Taxable (FSA Insured) 5.660% due 7/15/13 1,000 1,044 ------- VIRGINIA--0.1% Tobacco Settlement Financing Corp. Taxable Series A-1 6.706% due 6/1/46 90 78 ------- ------------------------------------------------------------------------- TOTAL MUNICIPAL BONDS (IDENTIFIED COST $4,615) 4,651 ------------------------------------------------------------------------- ASSET-BACKED SECURITIES--8.8% AmeriCredit Automobile Receivables Trust 05-AX, A4 3.930% due 10/6/11 2,000 1,990 AmeriCredit Automobile Receivables Trust 06-BG, A3 5.210% due 10/6/11 180 180 Capital One Auto Finance Trust 07-B, A3A 5.030% due 4/15/12 500 503 Carmax Auto Owner Trust 07-2, A3 5.230% due 12/15/11 442 447 Ford Credit Auto Owner Trust 07-A, A3B 5.058% due 8/15/11(c) 295 292 Greenwich Structured ARM Products 05-5A, N2 144A 8.240% due 9/27/45(b) (c) 315 299 Nomura Asset Acceptance Corp. 07-1, 1A2 5.669% due 3/25/47(c) 515 463 PAR VALUE VALUE (000) (000) --------- ------- Paine Webber Mortgage Acceptance Corp. 99-C1, D 7.150% due 6/15/32(c) $ 190 $ 197 Renaissance Home Equity Loan Trust 06-2, AF4 6.115% due 8/25/36(c) 730 721 Residential Funding Mortgage Securities II, Inc. 06-HSA1, A2 5.190% due 2/25/36(c) 400 359 Saxon Asset Securities Trust 05-3, A2C 5.145% due 11/25/35(c) 265 260 ------------------------------------------------------------------------- TOTAL ASSET-BACKED SECURITIES (IDENTIFIED COST $5,834) 5,711 ------------------------------------------------------------------------- DOMESTIC CORPORATE BONDS--19.6% AIRLINES--1.2% American Airlines, Inc. 99-1 7.024% due 4/15/11 365 366 Continental Airlines, Inc. 98-1A 6.648% due 3/15/19 398 401 ------- 767 ------- APPLICATION SOFTWARE--0.1% Intuit, Inc. 5.750% due 3/15/17 45 44 ------- ASSET MANAGEMENT & CUSTODY BANKS--0.8% Allied Capital Corp. 6.000% due 4/1/12 100 100 Bank of New York Mellon Corp. (The) 4.950% due 11/1/12 115 115 Janus Capital Group, Inc. 6.250% due 6/15/12 125 128 Nuveen Investments, Inc. 5.000% due 9/15/10 230 211 ------- 554 ------- AUTOMOBILE MANUFACTURERS--0.2% DaimlerChrysler NA Holding Corp. 6.500% due 11/15/13 95 99 ------- BROADCASTING & CABLE TV--0.4% Comcast Corp. 5.300% due 1/15/14 105 103 5.875% due 2/15/18 65 65 Time Warner Cable, Inc. 5.850% due 5/1/17 70 70 ------- 238 ------- 2
N-Q34th “Page” of 101TOC1stPreviousNextBottomJust 34th
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- BUILDING PRODUCTS--0.3% CRH America, Inc. (Ireland) 6.000% due 9/30/16(d) $ 135 $ 132 Masco Corp. 5.850% due 3/15/17 45 44 Owens Corning, Inc. 6.500% due 12/1/16 35 32 ------- 208 ------- CONSTRUCTION MATERIALS--0.1% Vulcan Materials Co. 5.600% due 11/30/12 80 80 ------- CONSUMER FINANCE--1.6% Capital One Financial Corp. 5.250% due 2/21/17 70 61 GMAC LLC 6.875% due 8/28/12 180 151 HSBC Finance Corp. 8.000% due 7/15/10 300 320 Residential Capital LLC 7.500% due 2/22/11 80 50 SLM Corp. 4.035% due 2/1/10(c) 500 454 ------- 1,036 ------- DATA PROCESSING & OUTSOURCED SERVICES--0.4% Broadridge Financial Solutions, Inc. 6.125% due 6/1/17 110 109 Fiserv, Inc. 6.125% due 11/20/12 125 127 ------- 236 ------- DIVERSIFIED BANKS--0.9% Bank of America Corp. 5.750% due 12/1/17 100 100 5.490% due 3/15/19 300 287 Wachovia Corp. 4.875% due 2/15/14 200 192 ------- 579 ------- DIVERSIFIED CAPITAL MARKETS--0.2% Credit Suisse USA, Inc. 5.850% due 8/16/16 135 138 ------- PAR VALUE VALUE (000) (000) --------- ------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.7% Cintas Corp. 6.125% due 12/1/17 $ 105 $ 104 Equifax, Inc. 6.300% due 7/1/17 130 132 International Lease Finance Corp. 4.750% due 1/13/12 225 222 ------- 458 ------- DRUG RETAIL--0.1% CVS Caremark Corp. 5.750% due 6/1/17 70 70 ------- ELECTRIC UTILITIES--1.0% Florida Power Corp. Series A 5.800% due 9/15/17 135 140 Great River Energy 144A 5.829% due 7/1/17(b) 140 145 PPL Capital Funding Trust I Series A 4.330% due 3/1/09 190 189 Southern Power Co. Series D 4.875% due 7/15/15 165 156 ------- 630 ------- FOOD RETAIL--0.1% Kroger Co. (The) 6.800% due 12/15/18 70 74 ------- GENERAL MERCHANDISE STORES--0.2% Target Corp. 5.375% due 5/1/17 140 137 ------- HEALTH CARE DISTRIBUTORS--0.2% Cardinal Health, Inc. 144A 6.000% due 6/15/17(b) 125 127 ------- HEALTH CARE SERVICES--0.1% Quest Diagnostics, Inc. 6.400% due 7/1/17 65 67 ------- HOME FURNISHINGS--0.2% Mohawk Industries, Inc. 6.125% due 1/15/16 160 160 ------- HOTELS, RESORTS & CRUISE LINES--0.2% Starwood Hotels & Resort Worldwide, Inc. 6.250% due 2/15/13 110 110 ------- 3
N-Q35th “Page” of 101TOC1stPreviousNextBottomJust 35th
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- HOUSEHOLD APPLIANCES--0.2% Black & Decker Corp. (The) 5.750% due 11/15/16 $ 115 $ 115 ------- INTEGRATED OIL & GAS--0.2% ConocoPhillips Canada Funding Co. 5.625% due 10/15/16 110 113 ------- INTEGRATED TELECOMMUNICATION SERVICES--0.9% AT&T, Inc. 5.875% due 2/1/12 130 134 5.625% due 6/15/16 130 132 Embarq Corp. 6.738% due 6/1/13 65 67 Qwest Corp. 7.875% due 9/1/11 65 68 Verizon Communications, Inc. 4.900% due 9/15/15 130 126 5.500% due 4/1/17 70 70 ------- 597 ------- INVESTMENT BANKING & BROKERAGE--1.1% Goldman Sachs Group, Inc. (The) 5.125% due 1/15/15 160 157 Lehman Brothers Holdings, Inc. 6.000% due 7/19/12 55 56 5.750% due 1/3/17 145 139 Merrill Lynch & Co., Inc. 6.110% due 1/29/37 150 133 Morgan Stanley 5.375% due 10/15/15 250 243 ------- 728 ------- LEISURE PRODUCTS--0.2% Hasbro, Inc. 6.300% due 9/15/17 135 138 ------- MANAGED HEALTH CARE--0.2% WellPoint, Inc. 5.250% due 1/15/16 125 121 ------- MORTGAGE REITS--0.3% iStar Financial, Inc. 6.050% due 4/15/15 200 169 ------- MOVIES & ENTERTAINMENT--0.3% Time Warner, Inc. 5.875% due 11/15/16 130 129 ------- PAR VALUE VALUE (000) (000) --------- ------- MOVIES & ENTERTAINMENT--(CONTINUED) Viacom, Inc. 6.250% due 4/30/16 $ 70 $ 71 ------- 200 ------- MULTI-LINE INSURANCE--0.1% Assurant, Inc. 5.625% due 2/15/14 70 69 ------- MULTI-UTILITIES--0.3% Dominion Resources, Inc. Series D 5.000% due 3/15/13 90 88 NiSource Finance Corp. 6.400% due 3/15/18 130 130 ------- 218 ------- OFFICE ELECTRONICS--0.3% Xerox Corp. 6.750% due 2/1/17 170 177 ------- OIL & GAS EXPLORATION & PRODUCTION--0.3% Apache Corp. 5.625% due 1/15/17 70 71 XTO Energy, Inc. 6.250% due 8/1/17 105 110 ------- 181 ------- OIL & GAS REFINING & MARKETING--0.2% Valero Energy Corp. 4.750% due 6/15/13 140 136 ------- OIL & GAS STORAGE & TRANSPORTATION--1.0% Buckeye Partners LP 5.125% due 7/1/17 200 192 Energy Transfer Partners LP 5.950% due 2/1/15 135 132 Enterprise Products Partners L.P. 6.300% due 9/15/17 100 102 Kinder Morgan Management Co. ULC 6.000% due 2/1/17 135 135 NGPL PipeCo. LLC 144A 6.514% due 12/15/12(b) 100 102 ------- 663 ------- OTHER DIVERSIFIED FINANCIAL SERVICES--1.5% Citigroup, Inc. 5.500% due 8/27/12 90 92 5.500% due 2/15/17 95 92 4
N-Q36th “Page” of 101TOC1stPreviousNextBottomJust 36th
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- OTHER DIVERSIFIED FINANCIAL SERVICES--(CONTINUED) General Electric Capital Corp. 6.750% due 3/15/32 $ 500 $ 568 JPMorgan Chase & Co. 5.125% due 9/15/14 155 152 5.250% due 5/1/15 85 83 ------- 987 ------- PACKAGED FOODS & MEATS--0.1% Kraft Foods, Inc. 6.125% due 2/1/18 80 81 ------- PROPERTY & CASUALTY INSURANCE--0.1% Travelers Cos., Inc. 5.750% due 12/15/17 100 98 ------- REGIONAL BANKS--0.5% SunTrust Banks, Inc. 5.250% due 11/5/12 135 136 Zions Bancorp. 5.500% due 11/16/15 200 188 ------- 324 ------- RESIDENTIAL REITS--0.2% UDR, Inc. 5.250% due 1/15/15 150 139 ------- RESTAURANTS--0.4% Starbucks Corp. 6.250% due 8/15/17 135 140 Yum! Brands, Inc. 6.250% due 4/15/16 140 142 ------- 282 ------- RETAIL REITS--0.3% Tanger Factory Outlet Centers 6.150% due 11/15/15 190 193 ------- SPECIALIZED FINANCE--0.4% Caterpillar Financial Services Corp. 5.850% due 9/1/17 65 67 CIT Group, Inc. 5.125% due 9/30/14 200 176 ------- 243 ------- SPECIALIZED REITS--0.8% Health Care REIT, Inc. 5.875% due 5/15/15 225 215 PAR VALUE VALUE (000) (000) --------- ------- SPECIALIZED REITS--(CONTINUED) Nationwide Health Properties, Inc. 6.250% due 2/1/13 $ 130 $ 135 Realty Income Corp. 6.750% due 8/15/19 110 113 Simon Property Group LP 5.100% due 6/15/15 70 66 ------- 529 ------- STEEL--0.2% Commercial Metals Co. 6.500% due 7/15/17 100 105 ------- THRIFTS & MORTGAGE FINANCE--0.2% Countrywide Financial Corp. 6.250% due 5/15/16 65 38 Washington Mutual, Inc. 4.625% due 4/1/14 155 121 ------- 159 ------- TOBACCO--0.1% Reynolds American, Inc. 6.750% due 6/15/17 95 97 ------- WIRELESS TELECOMMUNICATION SERVICES--0.2% Nextel Communications, Inc. Series D 7.375% due 8/1/15 70 69 Sprint Nextel Corp. 6.000% due 12/1/16 65 62 ------- 131 ------------------------------------------------------------------------- TOTAL DOMESTIC CORPORATE BONDS (IDENTIFIED COST $12,960) 12,805 ------------------------------------------------------------------------- NON-AGENCY MORTGAGE-BACKED SECURITIES--31.2% Banc of America Alternative Loan Trust 06-9, A1 6.000% due 1/25/37 609 601 Bear Stearns Adjustable Rate Mortgage Trust 05-12, 13A1 5.444% due 2/25/36(c) 169 166 Bear Stearns Commercial Mortgage Securities 06-PW12, A4 5.711% due 9/11/38(c) 370 382 Citigroup Mortgage Loan Trust, Inc. 05-5, 2A3 5.000% due 8/25/35 80 80 Citigroup/Deutsche Bank Commercial Mortgage Trust 05-CD1, AM 5.225% due 7/15/44(c) 650 633 5
N-Q37th “Page” of 101TOC1stPreviousNextBottomJust 37th
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- Citigroup/Deutsche Bank Commercial Mortgage Trust 06-CD2, A4 5.362% due 1/15/46(c) $ 655 $ 658 Citigroup/Deutsche Bank Commercial Mortgage Trust 07-CD4, A4 5.322% due 12/11/49 700 698 Countrywide Home Loan Mortgage Pass-Through Trust 04-13, 1A1 5.500% due 8/25/34 182 182 Countrywide Home Loan Mortgage Pass-Through Trust 07-1, A2 6.000% due 3/25/37 662 667 Credit Suisse Mortgage Capital Certificates 06-C1, A4 5.555% due 2/15/39(c) 935 949 Crown Castle Towers LLC 05-1A, AFX 144A 4.643% due 6/15/35(b) 450 450 First Horizon Asset Securities, Inc. 03-2, 1A12 5.750% due 4/25/33 445 440 First Union - Lehman Brothers - Bank of America 98-C2, A2 6.560% due 11/18/35 730 730 GE Capital Commercial Mortgage Corp. 04-C3, A4 5.189% due 7/10/39(c) 1,000 1,010 GMAC Mortgage Corp. Loan Trust 05-AR2, 2A 4.862% due 5/25/35(c) 273 270 Greenwich Capital Commercial Funding Corp. 04-GG1, A7 5.317% due 6/10/36(c) 1,000 1,018 JPMorgan Mortgage Trust 05-S3, 2A2 5.500% due 1/25/21 301 303 Lehman Brothers - UBS Commercial Mortgage Trust 04-C7, A6 4.786% due 10/15/29(c) 1,000 989 Lehman Brothers - UBS Commercial Mortgage Trust 06-C6, A4 5.372% due 9/15/39 710 712 Lehman Brothers - UBS Commercial Mortgage Trust 07-C2, A2 5.303% due 2/15/40 225 226 Lehman Brothers - UBS Commercial Mortgage Trust 07-C6, A2 5.845% due 7/15/40 360 367 PAR VALUE VALUE (000) (000) --------- ------- Lehman Brothers Commercial Conduit Mortgage Trust 07-C3, A4 5.935% due 7/15/44(c) $ 170 $ 173 MASTR Asset Securitization Trust 03-10, 3A1 5.500% due 11/25/33 318 315 MASTR Resecuritzation Trust 05-4CI, N2 144A 7.865% due 4/26/45(b) (c) (h) 170 83 Merrill Lynch Mortgage Trust 04-KEY2, A4 4.864% due 8/12/39(c) 1,000 991 Merrill Lynch Mortgage Trust 06-C1, AM 5.659% due 5/12/39(c) 320 322 Merrill Lynch/Countrywide Commercial Mortgage Trust 06-3, A4 5.414% due 7/12/46(c) 445 448 Morgan Stanley Capital I 06-T23, A4 5.811% due 8/12/41(c) 360 375 Morgan Stanley Capital I 07-IQ14, A2 5.610% due 4/15/49 350 354 Morgan Stanley Mortgage Loan Trust 05-5AR, 4A1 5.528% due 9/25/35(c) 299 302 Prudential Securities Secured Financing Corp. 98-C1, C 6.742% due 5/15/10 750 753 Residential Accredit Loans, Inc. 06-QA1, A21 5.966% due 1/25/36(c) 581 579 Residential Funding Mortgage Securities I, Inc. 05-SA1, 2A 4.856% due 3/25/35(c) 304 300 SBA Commercial Mortgage Backed Securities Trust 06-1A, B 144A 5.451% due 11/15/36(b) 140 138 Structured Asset Securities Corp. 03-32, 1A1 5.210% due 11/25/33(c) 464 455 Wachovia Mortgage Loan Trust LLC 06-A, B1 5.416% due 5/20/36(c) 259 246 Washington Mutual Mortgage Pass-Through- Certificates, Inc. 05-AR3, A2 4.636% due 3/25/35(c) 592 590 Wells Fargo Mortgage Backed Securities Trust 04-BB, A1 4.558% due 1/25/35(c) 254 254 Wells Fargo Mortgage Backed Securities Trust 05-14, 2A1 5.500% due 12/25/35 729 714 6
N-Q38th “Page” of 101TOC1stPreviousNextBottomJust 38th
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- Wells Fargo Mortgage Backed Securities Trust 05-5, 1A1 5.000% due 5/25/20 $ 323 $ 318 Wells Fargo Mortgage Backed Securities Trust 05-AR16, 6A3 5.000% due 10/25/35(c) 585 583 Wells Fargo Mortgage Backed Securities Trust 05-AR4, 2A1 4.524% due 4/25/35(c) 269 267 Wells Fargo Mortgage Backed Securities Trust 05-AR4, 2A2 4.524% due 4/25/35(c) 225 223 ------------------------------------------------------------------------- TOTAL NON-AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $20,494) 20,314 ------------------------------------------------------------------------- FOREIGN GOVERNMENT SECURITIES--0.5% RUSSIA--0.5% Russian Federation RegS 7.500% due 3/31/30(c) (e) 302 345 ------- ------------------------------------------------------------------------- TOTAL FOREIGN GOVERNMENT SECURITIES (IDENTIFIED COST $309) 345 ------------------------------------------------------------------------- FOREIGN CORPORATE BONDS(d)--4.2% ARUBA--0.2% UFJ Finance AEC 6.750% due 7/15/13 100 109 ------- AUSTRALIA--0.2% Westfield Capital Corp. Ltd./Westfield Finance Authority 144A 5.125% due 11/15/14(b) 150 140 ------- BRAZIL--0.2% Vale Overseas Ltd. 6.250% due 1/23/17 130 130 ------- CANADA--0.2% EnCana Corp. 5.900% due 12/1/17 80 82 Xstrata Finance (Canada) Ltd. 144A 5.800% due 11/15/16(b) 70 68 ------- 150 ------- CAYMAN ISLANDS--0.2% Petrobras International Finance Co. 6.125% due 10/6/16 135 138 ------- PAR VALUE VALUE (000) (000) --------- ------- CHILE--0.2% Petropower I Funding Trust 144A 7.360% due 2/15/14(b) $ 123 $ 123 ------- GERMANY--0.7% Deutsche Bank AG NY Series GS 4.079% due 3/22/12(c) 485 484 ------- LUXEMBOURG--0.1% Covidien International Series 144A 6.000% due 10/15/17(b) 55 57 ------- NETHERLANDS--0.2% Deutsche Telekom International Finance BV 5.750% due 3/23/16 100 100 ------- QATAR--0.4% Ras Laffan Liquefied Natural Gas Co. Ltd. RegS 5.298% due 9/30/20(e) 250 241 ------- RUSSIA--0.6% Gazprom OAO (Gaz Capital SA) 144A 6.212% due 11/22/16(b) 130 124 OJSC AK Transneft (TransCapitalInvest Ltd.) 144A 5.670% due 3/5/14(b) 170 163 TNK-BP Finance SA RegS 6.125% due 3/20/12(e) 105 101 ------- 388 ------- SINGAPORE--0.2% ICICI Bank Ltd. RegS 5.750% due 11/16/10(e) 105 107 ------- SOUTH KOREA--0.2% Export-Import Bank of Korea 5.500% due 10/17/12 135 136 ------- SPAIN--0.1% Telefonica Emisiones SAU 6.421% due 6/20/16 75 79 ------- UNITED KINGDOM--0.3% Diageo Capital plc 5.500% due 9/30/16 70 70 Vodafone Group plc 5.000% due 9/15/15 80 77 6.150% due 2/27/37 70 69 ------- 216 ------- 7
N-Q39th “Page” of 101TOC1stPreviousNextBottomJust 39th
Phoenix Core Bond Fund PAR VALUE VALUE (000) (000) --------- ------- UNITED STATES--0.2% Transocean, Inc. 6.000% due 3/15/18 $ 135 $ 135 ------- ------------------------------------------------------------------------- TOTAL FOREIGN CORPORATE BONDS (IDENTIFIED COST $2,734) 2,733 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--98.8% (IDENTIFIED COST $64,566) 64,458 ------- SHORT-TERM INVESTMENTS--2.6% COMMERCIAL PAPER(i)--0.8% Eaton Corp. 4.250% due 1/2/08 510 510 ------- VALUE SHARES (000) --------- ------- MONEY MARKET MUTUAL FUNDS--1.8% State Street Navigator Prime Plus (4.201% seven-day effective yield)(f) 1,193,508 1,194 ------- ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $1,704) 1,704 ------------------------------------------------------------------------- TOTAL INVESTMENTS--101.4% (IDENTIFIED COST $66,270) 66,162(a) Other assets and liabilities, net--(1.4)% (940) ------- NET ASSETS--100.0% $65,222 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized depreciation of investment securities is comprised of gross appreciation of $308 and gross depreciation of $821 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $66,675. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $2,019 (reported in 000's) or 3.1% of net assets. (c) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (d) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, or parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (e) Regulation S security. Security is offered and sold outside of the United States, therefore, it is exempt from registration with the SEC under rules 903 and 904 of the Securities Act of 1933. (f) Represents security purchased with cash collateral received for securities on loan. (g) All or a portion of security is on loan. (h) Illiquid and restricted security. Security valued at fair value as determined in good faith by or under the direction of the Trustees. At December 31, 2007, this security amounted to a value of $382 (reported in 000's) or 0.6% of net assets. For acquisition information, see Note 2 "Illiquid and Restricted Securities" in the Notes to Schedules of Investments. (i) The rate shown is the discount rate. 8
N-Q40th “Page” of 101TOC1stPreviousNextBottomJust 40th
Phoenix Emerging Markets Bond Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) PAR VALUE VALUE (000) (000) --------- ------- DOMESTIC CORPORATE BONDS--0.9% RAILROADS--0.9% Panama Canal Railway Co. 144A 7.000% due 11/1/26(c) $ 250 $ 244 ------- ------------------------------------------------------------------------- TOTAL DOMESTIC CORPORATE BONDS (IDENTIFIED COST $250) 244 ------------------------------------------------------------------------- FOREIGN GOVERNMENT SECURITIES--43.0% ARGENTINA--4.8% Province of Buenos Aires Series RegS 9.625% due 4/18/28(f) 500 417 Republic of Argentina 1.330% due 12/31/38(e) 200 85 Republic of Argentina PIK Interest Capitalization 3.970% due 12/31/33 882 849 Republic of Argentina Series PGDP 1.383% due 12/15/35(e) 97(g) 3 ------- 1,354 ------- BRAZIL--5.1% Federative Republic of Brazil 7.875% due 3/7/15 500 566 8.875% due 10/14/19 700 868 ------- 1,434 ------- COLOMBIA--1.7% Republic of Colombia 8.125% due 5/21/24 400 479 ------- COSTA RICA--1.3% Republic of Costa Rica RegS 6.548% due 3/20/14(f) 350 362 ------- DOMINICAN REPUBLIC--2.1% Dominican Republic RegS(f) 9.500% due 9/27/11 97 103 9.040% due 1/23/18 437 498 ------- 601 ------- ECUADOR--1.0% Republic of Ecuador 144A 9.375% due 12/15/15(c) 100 101 PAR VALUE VALUE (000) (000) --------- ------- ECUADOR--(CONTINUED) Republic of Ecuador RegS 12.000% due 11/15/12(f) $ 163 $ 166 ------- 267 ------- EL SALVADOR--2.1% Republic of El Salvador 144A 7.625% due 9/21/34(c) 250 290 Republic of El Salvador RegS 7.650% due 6/15/35(f) 250 290 ------- 580 ------- MEXICO--0.9% Mexican Fixed Rate Bonds Series M 9.000% due 6/20/13 2,500(j) 240 ------- PANAMA--1.9% Republic of Panama 6.700% due 1/26/36 500 530 ------- PHILIPPINES--1.0% Republic of Philippines 8.250% due 1/15/14 250 281 ------- RUSSIA--2.0% Russian Federation RegS 7.500% due 3/31/30(f) 495 567 ------- SERBIA--0.8% Republic of Serbia RegS 3.750% due 11/1/24(f) 250 233 ------- TURKEY--9.5% Republic of Turkey 11.000% due 1/14/13 1,000 1,226 8.000% due 2/14/34 400 444 6.875% due 3/17/36 1,000 987 ------- 2,657 ------- UKRAINE--2.5% Republic of Ukraine 144A 6.580% due 11/21/16(c) 400 393 1
N-Q41st “Page” of 101TOC1stPreviousNextBottomJust 41st
Phoenix Emerging Markets Bond Fund PAR VALUE VALUE (000) (000) --------- ------- UKRAINE--(CONTINUED) Republic of Ukraine RegS 8.775% due 8/5/09(f) $ 300 $ 309 ------- 702 ------- VENEZUELA--6.3% Republic of Venezuela 10.750% due 9/19/13 300 322 5.750% due 2/26/16 750 605 9.250% due 9/15/27 400 400 Republic of Venezuela RegS 7.000% due 12/1/18(f) 500 429 ------- 1,756 ------------------------------------------------------------------------- TOTAL FOREIGN GOVERNMENT SECURITIES (IDENTIFIED COST $11,793) 12,043 ------------------------------------------------------------------------- FOREIGN CORPORATE BONDS(d)--47.6% BAHAMAS--1.7% Ultrapetrol Ltd. 9.000% due 11/24/14 (Marine) 500 477 ------- BRAZIL--8.6% CSN Islands VIII Corp. 144A 9.750% due 12/16/13 (Steel)(c) 500 563 CSN Islands VIII Corp. RegS 9.750% due 12/16/13 (Steel)(f) 500 561 Marfrig Overseas Ltd. RegS 9.625% due 11/16/16 (Food Distributors)(f) 250 248 Morgan Stanley 144A 10.090% due 5/3/17 (Investment Banking & Brokerage)(c) 2,000(h) 1,023 ------- 2,395 ------- COLOMBIA--1.7% BanColombia S.A. 6.875% due 5/25/17 (Regional Banks) 500 465 ------- CYPRUS--0.9% Ritzio International Ltd. (Royal Bank of Scotland plc) 10.000% due 7/27/10 (Diversified Banks) 250 238 ------- GERMANY--2.5% Kreditanstalt fuer Wiederaufbau (KFW) 17.000% due 2/5/10 (Investment Banking & Brokerage) 800(k) 700 ------- PAR VALUE VALUE (000) (000) --------- ------- LUXEMBOURG--3.6% Gazprom OAO (Gaz Capital SA) RegS 7.288% due 8/16/37 (Integrated Oil & Gas)(f) $1,000 $ 1,015 ------- MEXICO--5.4% America Movil S.A. de C.V. 144A 8.460% due 12/18/36 (Wireless Telecommunication Services)(c) 3,000(j) 259 Pemex Project Funding Master Trust 8.625% due 12/1/23 (Oil & Gas Exploration & Production) 1,000 1,255 ------- 1,514 ------- NETHERLANDS--7.8% GTB Finance B.V. 8.500% due 1/29/12 (Specialized Finance) 400 386 ING Bank NV 7.500% due 3/7/08 (Other Diversified Financial Services) 200 199 Intergas Finance BV 144A 6.375% due 5/14/17 (Oil & Gas Storage & Transportation)(c) 350 314 Kazkommerts International B.V. RegS 7.500% due 11/29/16 (Diversified Banks)(f) 250 192 Majapahit Holding BV 144A (Electric Utilities)(c) 7.750% due 10/17/16 850 857 7.875% due 6/29/37 250 239 ------- 2,187 ------- RUSSIA--9.6% Gazprom OAO (Gaz Capital SA) 144A 7.288% due 8/16/37 (Oil & Gas Exploration & Production)(c) 750 757 Gazprom OAO (Gazstream SA) RegS 5.625% due 7/22/13 (Integrated Oil & Gas)(f) 6 6 OJSC Russian Agricultural Bank (RSHB Capital SA) 144A 7.175% due 5/16/13 (Regional Banks)(c) 200 204 TNK-BP Finance SA 144A (Integrated Oil & Gas)(c) 6.875% due 7/18/11 200 198 7.500% due 7/18/16 400 389 6.625% due 3/20/17 250 228 TNK-BP Finance SA RegS 7.500% due 7/18/16 (Integrated Oil & Gas)(f) 400 387 2
N-Q42nd “Page” of 101TOC1stPreviousNextBottomJust 42nd
Phoenix Emerging Markets Bond Fund PAR VALUE VALUE (000) (000) --------- ------- RUSSIA--(CONTINUED) Vimpelcom (UBS Luxembourg SA) RegS 8.250% due 5/23/16 (Wireless Telecommunication Services)(f) $ 500 $ 503 ------- 2,672 ------- TURKEY--1.9% Bosphorus Financial Services Ltd. RegS 6.669% due 2/15/12 (Other Diversified Financial Services)(f) 550 544 ------- UKRAINE--1.4% Kyivstar GSM (Dresdner Bank AG) 144A 7.750% due 4/27/12 (Integrated Telecommunication Services)(c) 250 250 The Export-Import Bank of Ukraine (Dresdner Bank AG) 7.750% due 9/23/09 (Diversified Banks) 150 153 ------- 403 ------- UNITED STATES--2.5% General Electric Capital Corp. 9.500% due 8/4/10 (Consumer Finance) 4,000(j) 373 JPMorgan Chase & Co. 144A 8.000% due 7/9/12 (Other Diversified Financial Services)(c) 12,000(i) 329 ------- 702 ------- ------------------------------------------------------------------------- TOTAL FOREIGN CORPORATE BONDS (IDENTIFIED COST $13,160) 13,312 ------------------------------------------------------------------------- VALUE SHARES (000) ------- ------- FOREIGN COMMON STOCKS(d)--2.2% BRAZIL--0.6% Unibanco-Uniao de Bancos Brasileiros SA GDR (Diversified Banks) 1,250 175 ------- GREECE--0.9% Navios Maritime Holdings, Inc. (Marine) 8,000 98 Paragon Shipping, Inc. (Marine) 8,800 160 ------- 258 ------- RUSSIA--0.1% Gazprom OAO (Gazstream SA) Sponsored ADR (Integrated Oil & Gas) 200 11 ------- VALUE SHARES (000) ------- ------- VIETNAM--0.6% Indochina Capital Vietnam Holdings Ltd. (Other Diversified Financial Services)(b) 17,600 $ 163 ------- ------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $672) 607 ------------------------------------------------------------------------- EXCHANGE TRADED FUNDS--0.3% iShares MSCI Taiwan Index Fund 5,250 79 ------------------------------------------------------------------------- TOTAL EXCHANGE TRADED FUNDS (IDENTIFIED COST $89) 79 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--94.0% (IDENTIFIED COST $25,964) 26,285 PAR VALUE VALUE (000) (000) --------- ------- SHORT-TERM INVESTMENTS--4.9% COMMERCIAL PAPER(l)--4.9% Nicor, Inc. 4.000% due 1/2/08 $1,375 1,375 ------- ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $1,375) 1,375 ------------------------------------------------------------------------- TOTAL INVESTMENTS--98.9% (IDENTIFIED COST $27,339) 27,660(a) Other assets and liabilities, net--1.1% 306 ------- NET ASSETS--100.0% $27,966 ======= 3
N-Q43rd “Page” of 101TOC1stPreviousNextBottomJust 43rd
Phoenix Emerging Markets Bond Fund (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $934 and gross depreciation of $783 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $27,509. (b) Non-income producing. (c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $6,638 (reported in 000's) or 23.7% of net assets. (d) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (e) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (f) Regulation S security. Security is offered and sold outside of the United States, therefore, it is exempt from registration with the SEC under rules 903 and 904 of the Securities Act of 1933. (g) Par value represents Argentina Peso. (h) Par value represents Brazilian Real. (i) Par value represents Indian Rupee. (j) Par value represents Mexican Peso. (k) Par value represents Turkish Lira. (l) The rate shown is the discount rate. Note: Fund Liquidated on January 18, 2008. 4
N-Q44th “Page” of 101TOC1stPreviousNextBottomJust 44th
Phoenix High Yield Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) PAR VALUE VALUE (000) (000) --------- -------- DOMESTIC CORPORATE BONDS--86.1% ADVERTISING--1.8% Affinion Group, Inc. 10.125% due 10/15/13 $ 645 $ 655 11.500% due 10/15/15 1,555 1,534 -------- 2,189 -------- AEROSPACE & DEFENSE--1.0% L-3 Communications Corp. 7.625% due 6/15/12 635 653 5.875% due 1/15/15 550 534 -------- 1,187 -------- APPAREL, ACCESSORIES & LUXURY GOODS--1.5% Levi Strauss & Co. 9.750% due 1/15/15 250 251 8.875% due 4/1/16(h) 1,635 1,590 -------- 1,841 -------- ASSET MANAGEMENT & CUSTODY BANKS--1.3% Nuveen Investment, Inc. 144A 10.500% due 11/15/15(b) 1,520 1,522 -------- AUTO PARTS & EQUIPMENT--0.0% CB Cambridge Industries Liquidating Trust Interests 0.000% due 12/24/08(j) (f) 5,164 6 -------- AUTOMOTIVE RETAIL--1.9% AutoNation, Inc. 7.000% due 4/15/14 1,080 1,029 Hertz Corp.(The) 8.875% due 1/1/14 1,025 1,044 10.500% due 1/1/16(h) 145 151 -------- 2,224 -------- BROADCASTING & CABLE TV--4.1% Clear Channel Communications, Inc. 7.650% due 9/15/10 3,085 3,171 EchoStar DBS Corp. 7.125% due 2/1/16 960 984 United Artists Theatre Circuit, Inc. Series 95-A 9.300% due 7/1/15(j) 364 364 PAR VALUE VALUE (000) (000) --------- ------- BROADCASTING & CABLE TV--(CONTINUED) United Artists Theatre Circuit, Inc. Series AW-0 9.300% due 7/1/15(j) $ 2 $ 2 United Artists Theatre Circuit, Inc. Series BD-1 9.300% due 7/1/15(j) 393 393 United Artists Theatre Circuit, Inc. Series BE-9 9.300% due 7/1/15(j) 14 14 -------- 4,928 -------- BUILDING PRODUCTS--3.4% Gibraltar Industries, Inc. Series B 8.000% due 12/1/15 2,045 1,851 Goodman Global Holdings, Inc. 7.875% due 12/15/12 2,090 2,163 -------- 4,014 -------- CASINOS & GAMING--8.5% American Casino & Entertainment Properties LLC 7.850% due 2/1/12 395 407 American Real Estate Partners LP/American Real Estate Finance Corp. 8.125% due 6/1/12 1,515 1,475 7.125% due 2/15/13 705 666 Indianapolis Downs LLC & Capital Corp. 144A 11.000% due 11/1/12(b) 1,250 1,213 MGM MIRAGE 7.625% due 1/15/17(h) 1,705 1,692 MGM MIRAGE, Inc. 7.500% due 6/1/16 615 612 OED Corp./Diamond JO LLC 8.750% due 4/15/12 1,050 1,055 Penn National Gaming, Inc. 6.750% due 3/1/15 985 1,004 Pinnacle Entertainment, Inc. 8.750% due 10/1/13(h) 580 593 Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp. 144A 6.625% due 12/1/14(b) 1,530 1,511 -------- 10,228 -------- CATALOG RETAIL--1.5% Harry & David Holdings, Inc. 1
N-Q45th “Page” of 101TOC1stPreviousNextBottomJust 45th
Phoenix High Yield Fund PAR VALUE VALUE (000) (000) --------- ------- CATALOG RETAIL--(CONTINUED) 10.124% due 3/1/12(c) $1,390 $ 1,314 9.000% due 3/1/13 580 536 -------- 1,850 -------- COMMUNICATIONS EQUIPMENT--0.9% Dycom Industries, Inc. 8.125% due 10/15/15 1,140 1,134 -------- CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS--1.7% Ahern Rentals, Inc. 9.250% due 8/15/13 1,610 1,364 Trinity Industries, Inc. 6.500% due 3/15/14 725 716 -------- 2,080 -------- CONSUMER FINANCE--6.2% Ford Motor Credit Co. LLC 7.375% due 2/1/11 765 685 9.875% due 8/10/11 360 341 7.000% due 10/1/13(h) 1,200 1,004 8.000% due 12/15/16(h) 1,565 1,331 GMAC LLC 7.250% due 3/2/11 1,000 877 6.000% due 12/15/11 2,730 2,291 6.750% due 12/1/14 1,130 913 -------- 7,442 -------- DATA PROCESSING & OUTSOURCED SERVICES--1.4% First Data Corp. 144A 9.875% due 9/24/15(b) 1,745 1,625 -------- DISTRIBUTORS--0.4% Susser Holdings Corp. 144A 10.625% due 12/15/13(b) 440 458 -------- DIVERSIFIED CHEMICALS--2.0% Huntsman International LLC 7.875% due 11/15/14 1,070 1,140 7.375% due 1/1/15 1,165 1,229 -------- 2,369 -------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--1.9% FTI Consulting, Inc. 7.750% due 10/1/16 565 590 Harland Clarke Holdings Corp. 9.500% due 5/15/15(h) 1,150 1,001 PAR VALUE VALUE (000) (000) --------- ------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--(CONTINUED) 9.619% due 5/15/15(c) $ 800 $ 674 -------- 2,265 -------- DIVERSIFIED METALS & MINING--2.7% Freeport-McMoRan Copper & Gold, Inc. (Indonesia)(d) 8.375% due 4/1/17 3,045 3,273 -------- ELECTRIC UTILITIES--1.8% Reliant Energy, Inc. 6.750% due 12/15/14 2,125 2,141 -------- FERTILIZERS & AGRICULTURAL CHEMICALS--1.6% Tronox Worldwide LLC/Tronox Finance Corp. 9.500% due 12/1/12 2,022 1,961 -------- FOOD RETAIL--0.5% Stater Brothers Holdings, Inc. 8.125% due 6/15/12(h) 640 635 -------- HEALTH CARE EQUIPMENT--1.7% HCA, Inc. 9.250% due 11/15/16 1,965 2,068 -------- HEALTH CARE SERVICES--0.8% Omnicare, Inc. 6.875% due 12/15/15 1,049 981 -------- HOUSEWARES & SPECIALTIES--0.3% American Greeetings Corp. 7.375% due 6/1/16 380 371 -------- INTEGRATED TELECOMMUNICATION SERVICES--4.0% Hughes Network Systems LLC/Hughes Network Systems Finance Corp. 9.500% due 4/15/14 1,960 1,994 Qwest Corp. 8.875% due 3/15/12 345 371 6.500% due 6/1/17(h) 735 704 Telcordia Technologies, Inc. 144A 10.000% due 3/15/13(b) (h) 2,215 1,772 -------- 4,841 -------- IT CONSULTING & OTHER SERVICES--0.5% Unisys Corp. 12.500% due 1/15/16 575 585 -------- 2
N-Q46th “Page” of 101TOC1stPreviousNextBottomJust 46th
Phoenix High Yield Fund PAR VALUE VALUE (000) (000) --------- ------- METAL & GLASS CONTAINERS--0.5% AEP Industries, Inc. 7.875% due 3/15/13(h) $ 590 $ 565 -------- MOVIES & ENTERTAINMENT--0.7% WMG Acquisition Corp. 7.375% due 4/15/14 240 186 WMG Holdings Corp. 0% due 12/15/14(c) 935 603 -------- 789 -------- OFFICE SERVICES & SUPPLIES--2.5% IKON Office Solutions, Inc. 7.750% due 9/15/15 2,865 2,998 -------- OIL & GAS EQUIPMENT & SERVICES--1.4% Seitel, Inc. 9.750% due 2/15/14 1,890 1,621 -------- OIL & GAS EXPLORATION & PRODUCTION--4.5% Chesapeake Energy Corp. 6.625% due 1/15/16 1,815 1,783 Pioneer Natural Resources Co. 6.650% due 3/15/17 415 402 6.875% due 5/1/18 2,475 2,406 Plains Exploration & Production Co. 7.000% due 3/15/17(h) 815 784 -------- 5,375 -------- OIL & GAS STORAGE & TRANSPORTATION--1.8% SemGroup LP 144A 8.750% due 11/15/15(b) 2,205 2,106 -------- PACKAGED FOODS & MEATS--0.8% Pilgrim's Pride Corp. 8.375% due 5/1/17(h) 1,015 1,000 -------- PAPER PRODUCTS--3.1% Exopac Holding Corp. 11.250% due 2/1/14 1,910 1,881 Mercer International, Inc. 9.250% due 2/15/13(h) 1,780 1,638 NewPage Corp. 144A 10.000% due 5/1/12(b) 145 146 -------- 3,665 -------- PAR VALUE VALUE (000) (000) --------- ------- PRECIOUS METALS & MINERALS--1.0% PNA Group, Inc. 11.869% due 9/1/16 $1,225 $ 1,158 -------- PUBLISHING--3.2% Dex Media, Inc. 8.000% due 11/15/13 575 543 Donnelley (RH) Corp. 144A 8.875% due 10/15/17(b) 1,615 1,502 Idearc, Inc. 8.000% due 11/15/16 1,925 1,776 -------- 3,821 -------- SEMICONDUCTORS--2.5% Amkor Technology, Inc.(h) 7.750% due 5/15/13 1,170 1,107 9.250% due 6/1/16 465 469 Freescale Semiconductor, Inc.(h) 8.875% due 12/15/14 790 709 10.125% due 12/15/16 900 747 -------- 3,032 -------- SPECIALIZED FINANCE--0.8% PNA Intermediate Holding Corp. (PIK Interest Capitalization) 144A 11.869% due 2/15/13(b) 1,025 933 -------- SPECIALIZED REITS--3.1% Felcor Lodging LP 8.500% due 6/1/11 1,030 1,079 Host Hotels & Resorts LP Series O 6.375% due 3/15/15(h) 1,295 1,269 Ventas Realty LP/Ventas Capital Corp. 6.750% due 4/1/17 1,400 1,393 -------- 3,741 -------- SPECIALTY STORES--1.4% Morris Publishing Group LLC 7.000% due 8/1/13 2,296 1,679 -------- TOBACCO--3.0% Alliance One International, Inc. 11.000% due 5/15/12 1,525 1,601 Reynolds American, Inc. 7.300% due 7/15/15 455 473 7.625% due 6/1/16 985 1,052 3
N-Q47th “Page” of 101TOC1stPreviousNextBottomJust 47th
Phoenix High Yield Fund PAR VALUE VALUE (000) (000) --------- ------- TOBACCO--(CONTINUED) 7.750% due 6/1/18 $ 485 $ 520 -------- 3,646 -------- TRADING COMPANIES & DISTRIBUTORS--0.7% Ashtead Capital, Inc. 144A 9.000% due 8/15/16(b) 960 854 -------- TRUCKING--1.7% Avis Budget Car Rental LLC/Avis Budget Finance, Inc. 7.750% due 5/15/16 2,100 1,984 -------- ------------------------------------------------------------------------- TOTAL DOMESTIC CORPORATE BONDS (IDENTIFIED COST $106,401) 103,185 ------------------------------------------------------------------------- FOREIGN CORPORATE BONDS(d)--8.3% CANADA--4.0% Cascades, Inc. 7.250% due 2/15/13 1,900 1,791 CHC Helicopter Corp. 7.375% due 5/1/14 455 432 Dollarama Group LP 144A 10.599% due 8/15/12(b) (c) 1,160 1,166 Russel Metals, Inc. 6.375% due 3/1/14 1,505 1,401 -------- 4,790 -------- CHINA--1.1% NXP BV/NXP Funding LLC 7.875% due 10/15/14 730 697 9.500% due 10/15/15(h) 650 597 -------- 1,294 -------- LUXEMBOURG--1.0% Basell AF SCA 144A 8.375% due 8/15/15(b) (h) 1,510 1,227 -------- POLAND--0.1% Poland Telecom Finance BV Series B 14.000% due 12/1/08(e) (j) (f) 4,942 62 -------- SINGAPORE--0.3% Avago Technologies Finance Pte/Avago Technologies US/Avago Technologies Wireless 10.125% due 12/1/13 430 452 -------- PAR VALUE VALUE (000) (000) --------- ------- UNITED KINGDOM--0.6% Ineos Group Holdings plc 144A 8.500% due 2/15/16(b) (h) $ 800 $ 716 -------- UNITED STATES--1.2% Stratos Global Corp. 9.875% due 2/15/13(h) 1,346 1,427 -------- ------------------------------------------------------------------------- TOTAL FOREIGN CORPORATE BONDS (IDENTIFIED COST $15,222) 9,968 ------------------------------------------------------------------------- VALUE SHARES (000) ------- ------- DOMESTIC COMMON STOCKS--0.0% COMMERCIAL PRINTING--0.0% ACG Holdings, Inc.(j) (k) 76 0 -------- ------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $358) 0 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--94.4% (IDENTIFIED COST $121,981) 113,153 -------- SHORT-TERM INVESTMENTS--19.1% SHARES ---------- MONEY MARKET MUTUAL FUNDS--15.7% State Street Navigator Prime Plus (4.201% seven-day effective yield)(g) 18,863,225 18,863 -------- PAR VALUE VALUE (000) (000) --------- ------- FEDERAL AGENCY SECURITIES(i)--3.4% FHLB 3.150% due 1/2/08 $2,000 2,000 2.500% due 1/3/08 2,015 2,015 -------- 4,015 -------- ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $22,878) 22,878 ------------------------------------------------------------------------- TOTAL INVESTMENTS--113.5% (IDENTIFIED COST $144,859) 136,031(a) Other assets and liabilities, net--(13.5)% (16,209) -------- NET ASSETS--100.0% $119,822 ======== 4
N-Q48th “Page” of 101TOC1stPreviousNextBottomJust 48th
Phoenix High Yield Fund (a) Federal Income Tax Information (reported in 000's): Net unrealized depreciation of investment securities is comprised of gross appreciation of $735 and gross depreciation of $9,726 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $145,022. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $16,751 (reported in 000's) or 14.0% of net assets. (c) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (d) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (e) Security in default. (f) Illiquid and restricted security. Security valued at fair value as determined in good faith by or under the direction of the Trustees. At December 31, 2007, this security amounted to a value of $68 (reported in 000's) or 0.0% of net assets. For acquisition information, see Note 2 "Illiquid and Restricted Securities" in the Notes to Schedules of Investments. (g) Represents security purchased with cash collateral received for securities on loan. (h) All or a portion of security is on loan. (i) The rate shown is the discount rate. (j) Illiquid security. 5
N-Q49th “Page” of 101TOC1stPreviousNextBottomJust 49th
Phoenix Money Market Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) FACE VALUE VALUE (000) (000) ---------- ------- FEDERAL AGENCY SECURITIES--20.5% FHLB 4.350% due 1/7/08 $2,035 $ 2,033 4.300% due 1/9/08 2,245 2,243 3.760% due 2/15/08(d) 500 500 3.790% due 4/29/08(d) 1,500 1,498 3.000% due 7/11/08(d) 1,000 993 4.700% due 10/9/08(d) 2,000 2,000 4.782% due 11/21/08(c) (d) 2,000 2,000 4.600% due 11/28/08(d) 1,500 1,500 4.500% due 12/11/08 1,500 1,500 FHLMC(d) 3.060% due 1/15/08 500 499 5.000% due 2/8/08 1,640 1,641 3.250% due 2/25/08 250 249 5.750% due 4/15/08 1,560 1,566 3.000% due 7/22/08 800 794 ------------------------------------------------------------------------- TOTAL FEDERAL AGENCY SECURITIES (IDENTIFIED COST $19,016) 19,016 ------------------------------------------------------------------------- FEDERAL AGENCY SECURITIES--VARIABLE(c)--1.8% SBA (Final Maturity 2/25/23) 5.250% due 1/1/08(g) 253 253 SBA (Final Maturity 1/25/21) 5.000% due 1/1/08(g) 27 27 SBA (Final Maturity 10/25/22) 5.250% due 1/1/08(g) 424 424 SBA (Final Maturity 11/25/21) 5.375% due 1/1/08(g) 293 293 SBA (Final Maturity 2/25/23) 5.250% due 1/1/08(g) 196 196 SBA (Final Maturity 3/25/24) 4.875% due 1/1/08(g) 137 128 SBA (Final Maturity 5/25/21) 5.250% due 1/1/08(g) 114 114 FACE VALUE VALUE (000) (000) ---------- ------- SBA (Final Maturity 9/25/23) 5.125% due 1/1/08(g) $ 227 $ 227 ------------------------------------------------------------------------- TOTAL FEDERAL AGENCY SECURITIES--VARIABLE (IDENTIFIED COST $1,662) 1,662 ------------------------------------------------------------------------- COMMERCIAL PAPER(f)--56.7% ABN-AMRO N.A. Finance, Inc. 5.000% due 1/15/08 1,100 1,098 5.020% due 1/15/08 1,500 1,497 5.250% due 1/15/08 1,360 1,357 5.000% due 3/10/08 900 891 Air Products & Chemicals, Inc. 4.480% due 1/11/08 1,695 1,693 Archer-Daniels-Midland Co. 4.500% due 1/8/08 2,000 1,998 4.460% due 1/10/08 900 899 4.380% due 1/31/08 1,900 1,893 Bank of America Corp. 4.820% due 1/24/08 1,700 1,695 4.810% due 2/22/08 1,460 1,450 Cargill, Inc. 4.700% due 2/13/08 2,500 2,486 4.720% due 2/26/08 1,750 1,737 Danaher Corp. 4.350% due 1/23/08 1,460 1,456 5.350% due 1/29/08 1,825 1,817 Danske Corp. 4.670% due 2/1/08 1,605 1,599 Eaton Corp. 4.250% due 1/2/08 1,665 1,665 General Electric Capital Corp. 4.740% due 1/23/08 690 688 4.570% due 2/4/08 2,040 2,031 4.620% due 2/20/08 1,400 1,391 Govco, Inc. 5.100% due 1/16/08 1,900 1,896 4.700% due 1/30/08 1,400 1,395 4.430% due 2/15/08 1,300 1,293 Harley-Davidson Funding Corp. 4.480% due 2/21/08 2,325 2,310 International Lease Finance Corp. 4.750% due 1/28/08 2,300 2,292 1
N-Q50th “Page” of 101TOC1stPreviousNextBottomJust 50th
Phoenix Money Market Fund FACE VALUE VALUE (000) (000) ---------- ------- 4.670% due 1/30/08 $2,500 $ 2,491 Praxair, Inc. 4.500% due 1/4/08 2,160 2,159 Private Export Funding Corp. 4.760% due 1/31/08 2,100 2,092 Toyota Motor Credit Corp. 4.440% due 3/27/08 2,500 2,474 UBS Finance Delaware LLC 4.960% due 1/14/08 1,451 1,448 4.860% due 1/25/08 1,735 1,729 4.770% due 2/25/08 1,600 1,588 ------------------------------------------------------------------------- TOTAL COMMERCIAL PAPER (IDENTIFIED COST $52,508) 52,508 ------------------------------------------------------------------------- MEDIUM TERM NOTES--20.8% Citigroup Global Markets Holdings, Inc. 6.500% due 2/15/08 1,500 1,502 Danske Bank A/S 144A (Denmark) 4.919% due 1/22/08(b) (c) (e) (g) 2,000 2,000 FleetBoston Financial Corp. 3.850% due 2/15/08 1,500 1,498 HSBC Finance Corp. 5.836% due 2/15/08 3,325 3,327 HSH Nordbank AG NY 144A (Germany) 4.956% due 1/23/08(b) (c) (e) (g) 5,000 5,000 National Australia Bank Ltd. 144A (Australia) 5.240% due 1/7/08(b) (c) (e) (g) 2,000 2,000 Nordea Bank AB 144A (Sweden) 5.233% due 1/9/08(b) (c) (e) (g) 2,000 2,000 FACE VALUE VALUE (000) (000) ---------- ------- Wells Fargo & Co. 5.076% due 1/18/08(c) (g) $2,000 $ 2,000 ------------------------------------------------------------------------- TOTAL MEDIUM TERM NOTES (IDENTIFIED COST $19,327) 19,327 ------------------------------------------------------------------------- TOTAL INVESTMENTS--99.8% (IDENTIFIED COST $92,513) 92,513(a) Other assets and liabilities, net--0.2% 160 ------- NET ASSETS--100.0% $92,673 ======= (a) Federal Income Tax Information: At December 31, 2007, the aggregate cost of securities for federal income tax purposes was the same for book and tax purposes. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $11,000 (reported in 000's) or 11.87% of net assets. (c) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (d) The interest rate shown is the coupon rate. (e) The country of risk, noted parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (f) The rate shown is the discount rate. (g) The maturity date shown is the interest reset date. 2
N-Q51st “Page” of 101TOC1stPreviousNextBottomJust 51st
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- U.S. GOVERNMENT SECURITIES--3.6% U.S. TREASURY BONDS--1.1% U.S. Treasury Bond 5.000% due 5/15/37 $1,400 $ 1,526 -------- U.S. TREASURY NOTES--2.5% U.S. Treasury Note 4.250% due 11/15/17 3,550 3,613 -------- ------------------------------------------------------------------------- TOTAL U.S. GOVERNMENT SECURITIES (IDENTIFIED COST $5,092) 5,139 ------------------------------------------------------------------------- AGENCY MORTGAGE-BACKED SECURITIES--3.1% FNMA 5.500% due 6/1/34 1,160 1,161 6.000% due 3/1/36 737 749 6.500% due 8/1/36 405 416 6.000% due 10/1/36 186 189 FNMA 04-W6, 1A4 5.500% due 7/25/34 1,017 1,018 FNMA 05-57, CK 5.000% due 7/25/35 537 536 FNMA 05-74, AG 5.000% due 9/25/35 351 351 ------------------------------------------------------------------------- TOTAL AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $4,384) 4,420 ------------------------------------------------------------------------- AGENCY NON-MORTGAGE-BACKED SECURITIES--1.3% FHLMC 5.200% due 3/5/19 1,900 1,902 ------------------------------------------------------------------------- TOTAL AGENCY NON-MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $1,865) 1,902 ------------------------------------------------------------------------- MUNICIPAL BONDS--2.6% MASSACHUSETTS--0.2% Commonwealth of Massachusetts General Obligation Series C (FSA Insured) 5.500% due 12/1/17 270 309 -------- MINNESOTA--1.1% State of Minnesota 5.000% due 8/1/19 1,500 1,650 -------- PAR VALUE VALUE (000) (000) --------- -------- SOUTH DAKOTA--0.2% South Dakota State Educational Enhancement Funding Corp. Taxable Series A 6.720% due 6/1/25 $ 287 $ 285 -------- TEXAS--1.1% City of Dallas 5.000% due 2/15/17 1,400 1,532 -------- ------------------------------------------------------------------------- TOTAL MUNICIPAL BONDS (IDENTIFIED COST $3,763) 3,776 ------------------------------------------------------------------------- ASSET-BACKED SECURITIES--2.3% Bombardier Capital Mortgage Securitization Corp. 99-A, A3 5.980% due 1/15/18(d) 935 912 Conseco Finance Securitizations Corp. 01-3, A4 6.910% due 5/1/33(d) 924 929 Dunkin Securitization 06-1, M1 144A 8.285% due 6/20/31(b) 690 697 Green Tree Financial Corp. 99-2, M2 7.210% due 12/1/30(d) 576 97 IndyMac Manufactured Housing Contract 98-1, A3 6.370% due 9/25/28 746 725 MASTR Alternative Net Interest Margin 06-6, N1 144A 4.285% due 9/26/46(b) (d) (g) 89 6 ------------------------------------------------------------------------- TOTAL ASSET-BACKED SECURITIES (IDENTIFIED COST $3,478) 3,366 ------------------------------------------------------------------------- DOMESTIC CORPORATE BONDS--27.8% AEROSPACE & DEFENSE--1.2% DRS Technologies, Inc. 6.625% due 2/1/16 500 496 L-3 Communications Corp. 7.625% due 6/15/12 425 437 6.125% due 1/15/14 550 542 L-3 Communications Corp. Series B 6.375% due 10/15/15 250 248 -------- 1,723 -------- 1
N-Q52nd “Page” of 101TOC1stPreviousNextBottomJust 52nd
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- AIRLINES--2.7% American Airlines, Inc. 01-1 6.977% due 5/23/21 $1,653 $ 1,529 Continental Airlines, Inc. 98-1A 6.648% due 3/15/19 499 501 Delta Air Lines, Inc. 00-1 7.379% due 5/18/10 619 622 United Airlines, Inc. 00-2 7.032% due 10/1/10 779 779 United Airlines, Inc. 01-1 6.071% due 3/1/13 470 468 -------- 3,899 -------- APPLICATION SOFTWARE--0.2% Intuit, Inc. 5.750% due 3/15/17 265 261 -------- ASSET MANAGEMENT & CUSTODY BANKS--0.3% Janus Capital Group, Inc. 6.250% due 6/15/12 375 384 -------- AUTOMOBILE MANUFACTURERS--0.2% Ford Motor Co. 7.450% due 7/16/31 375 280 -------- AUTOMOTIVE RETAIL--0.3% Hertz Corp.(The) 8.875% due 1/1/14 350 357 10.500% due 1/1/16 100 104 -------- 461 -------- BROADCASTING & CABLE TV--2.2% Charter Communications Holdings I LLC 11.750% due 5/15/14(d) 175 112 Charter Communications Holdings I LLC/Charter Communications Holdings I Capital Corp. 11.000% due 10/1/15 375 306 Comcast Cable Holdings LLC 7.875% due 8/1/13 500 549 COX Communications, Inc. 5.450% due 12/15/14 375 368 DIRECTV Holdings LLC/DIRECTV Financing Co., Inc. 6.375% due 6/15/15 1,000 965 EchoStar DBS Corp. 6.625% due 10/1/14 600 598 PAR VALUE VALUE (000) (000) --------- -------- BROADCASTING & CABLE TV--(CONTINUED) Intelsat Corp. 9.000% due 6/15/16 $ 200 $ 202 -------- 3,100 -------- BUILDING PRODUCTS--1.3% Building Materials Corp. of America 7.750% due 8/1/14 390 300 Esco Corp. 144A 8.625% due 12/15/13(b) 600 603 Masco Corp. 5.850% due 3/15/17 540 525 Owens Corning, Inc. 6.500% due 12/1/16 495 454 -------- 1,882 -------- CASINOS & GAMING--0.9% MGM Mirage 8.500% due 9/15/10 300 313 Pokagon Gaming Authority 144A 10.375% due 6/15/14(b) 125 135 River Rock Entertainment Authority (The) 9.750% due 11/1/11 250 262 Seminole Hard Rock Entertainment, Inc./Seminole Hard Rock International LLC 144A 7.491% due 3/15/14(b) (d) 75 72 Station Casinos, Inc. 6.875% due 3/1/16 750 551 -------- 1,333 -------- CONSUMER FINANCE--2.9% Ford Motor Credit Co. LLC 7.875% due 6/15/10 385 355 8.625% due 11/1/10 395 367 9.875% due 8/10/11 345 327 9.693% due 4/15/12(d) 55 54 7.800% due 6/1/12 340 298 GMAC LLC 7.250% due 3/2/11 1,000 877 6.875% due 9/15/11 400 343 6.000% due 12/15/11 1,000 839 Residential Capital LLC 7.625% due 11/21/08 275 220 8.375% due 6/30/15 305 186 2
N-Q53rd “Page” of 101TOC1stPreviousNextBottomJust 53rd
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- CONSUMER FINANCE--(CONTINUED) SLM Corp. 5.450% due 4/25/11 $ 300 $ 276 -------- 4,142 -------- DATA PROCESSING & OUTSOURCED SERVICES--1.0% Broadridge Financial Solutions, Inc. 6.125% due 6/1/17 525 520 First Data Corp. 144A 9.875% due 9/24/15(b) 325 302 Western Union Co. (The) 5.930% due 10/1/16 560 560 -------- 1,382 -------- DISTILLERS & VINTNERS--0.3% Constellation Brands, Inc. 8.375% due 12/15/14 165 166 7.250% due 9/1/16 220 207 Constellation Brands, Inc. 144A 7.250% due 5/15/17(b) 120 112 -------- 485 -------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.9% Equifax, Inc. 6.300% due 7/1/17 1,000 1,017 Mobile Mini, Inc. 144A 6.875% due 5/1/15(b) 250 230 -------- 1,247 -------- DIVERSIFIED METALS & MINING--1.2% Freeport-McMoRan Copper & Gold, Inc. (Indonesia) 6.875% due 2/1/14(e) 320 325 Glencore Funding LLC 144A 6.000% due 4/15/14(b) 1,000 1,007 Neenah Foundry Co. 9.500% due 1/1/17 500 405 -------- 1,737 -------- ELECTRICAL COMPONENTS & EQUIPMENT--0.3% General Cable Corp. 7.125% due 4/1/17 500 493 -------- ENVIRONMENTAL & FACILITIES SERVICES--0.1% Allied Waste North America, Inc. Series B 5.750% due 2/15/11 150 148 -------- PAR VALUE VALUE (000) (000) --------- -------- GAS UTILITIES--0.3% AmeriGas Partners LP 7.250% due 5/20/15 $ 500 $ 493 -------- HEALTH CARE FACILITIES--0.3% Psychiatric Solutions, Inc. 7.750% due 7/15/15 375 376 -------- HEALTH CARE SERVICES--0.3% Quest Diagnostics, Inc. 6.400% due 7/1/17 450 466 -------- HEALTH CARE SUPPLIES--0.3% Bausch & Lomb, Inc. 144A 9.875% due 11/1/15(b) 125 127 Viant Holdings, Inc. 144A 10.125% due 7/15/17(b) 295 272 -------- 399 -------- HOTELS, RESORTS & CRUISE LINES--0.8% Royal Caribbean Cruises Ltd. 6.875% due 12/1/13 1,250 1,220 -------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.2% AES Corp. (The) 144A 7.750% due 10/15/15(b) 100 102 Texas Competitive Electric Holdings Co. LLC 144A 10.250% due 11/1/15(b) 200 199 -------- 301 -------- INTEGRATED TELECOMMUNICATION SERVICES--0.7% Qwest Corp. 6.500% due 6/1/17 215 207 Windstream Corp. 8.625% due 8/1/16 500 528 7.000% due 3/15/19 250 239 -------- 974 -------- INVESTMENT BANKING & BROKERAGE--0.5% BlackRock, Inc. 6.250% due 9/15/17 225 232 Merrill Lynch & Co., Inc. 6.110% due 1/29/37 500 443 -------- 675 -------- LEISURE PRODUCTS--0.2% Hasbro, Inc. 6.300% due 9/15/17 275 282 -------- 3
N-Q54th “Page” of 101TOC1stPreviousNextBottomJust 54th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- LIFE SCIENCES TOOLS & SERVICES--0.4% Fisher Scientific International, Inc. 6.750% due 8/15/14 $ 600 $ 616 -------- METAL & GLASS CONTAINERS--0.4% Plastipak Holdings, Inc. 144A 8.500% due 12/15/15(b) 500 502 -------- MORTGAGE REITS--0.6% iStar Financial, Inc. Series B 5.950% due 10/15/13 1,000 872 -------- MOVIES & ENTERTAINMENT--0.5% Time Warner, Inc. 6.875% due 5/1/12 370 390 Viacom, Inc. 6.250% due 4/30/16 375 378 -------- 768 -------- OFFICE ELECTRONICS--0.3% Xerox Corp. 6.750% due 2/1/17 350 365 -------- OIL & GAS EQUIPMENT & SERVICES--0.1% Helix Energy Solutions Group, Inc. 144A 9.500% due 1/15/16(b) 200 205 -------- OIL & GAS EXPLORATION & PRODUCTION--1.1% Forest Oil Corp. 144A 7.250% due 6/15/19(b) 700 707 Plains Exploration & Production Co. 7.750% due 6/15/15 400 402 Swift Energy Co. 7.625% due 7/15/11 500 505 -------- 1,614 -------- OIL & GAS REFINING & MARKETING--0.3% Tesoro Corp. 6.500% due 6/1/17 480 478 -------- OIL & GAS STORAGE & TRANSPORTATION--0.3% Kinder Morgan Management Co. 5.700% due 1/5/16 400 364 -------- PACKAGED FOODS & MEATS--0.3% Tyson Foods, Inc. 6.850% due 4/1/16 400 412 -------- PAR VALUE VALUE (000) (000) --------- -------- PAPER PACKAGING--0.1% Jefferson Smurfit Corp. 8.250% due 10/1/12 $ 135 $ 134 -------- PAPER PRODUCTS--0.3% Verso Paper Holdings LLC & Verso Paper, Inc. Series B 11.375% due 8/1/16 375 383 -------- PUBLISHING--0.8% Donnelley (RH) Corp. 144A 8.875% due 10/15/17(b) 275 256 Idearc, Inc. 8.000% due 11/15/16 500 461 Reader's Digest Association, Inc. (The) 144A 9.000% due 2/15/17(b) 500 421 -------- 1,138 -------- RESTAURANTS--0.0% Outback Steakhouse, Inc. 144A 10.000% due 6/15/15(b) 50 37 -------- SPECIALIZED FINANCE--0.3% Yankee Acquisition Corp. Series B 9.750% due 2/15/17 535 492 -------- SPECIALIZED REITS--1.2% Health Care REIT, Inc. 5.875% due 5/15/15 1,000 958 Host Hotels & Resorts LP 6.875% due 11/1/14 400 400 Realty Income Corp. 6.750% due 8/15/19 425 439 -------- 1,797 -------- STEEL--0.2% Steel Dynamics, Inc. 144A 7.375% due 11/1/12(b) 225 227 TOBACCO--0.6% Reynolds American, Inc. 7.300% due 7/15/15 500 522 7.625% due 6/1/16 375 400 -------- 922 -------- WIRELESS TELECOMMUNICATION SERVICES--0.4% Nextel Communications, Inc. Series D 7.375% due 8/1/15 650 640 -------- 4
N-Q55th “Page” of 101TOC1stPreviousNextBottomJust 55th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- ------------------------------------------------------------------------- TOTAL DOMESTIC CORPORATE BONDS (IDENTIFIED COST $41,605) 40,109 ------------------------------------------------------------------------- NON-AGENCY MORTGAGE-BACKED SECURITIES--9.2% Adjustable Rate Mortgage Trust 05-3, 2A1 4.695% due 7/25/35(d) $ 904 $ 895 American Home Mortgage Assets 07-2, M4 5.395% due 3/25/47(d) (h) 644 448 American Tower Trust L 07-1A, C 144A 5.615% due 4/15/37(b) 750 704 Bear Stearns Commercial Mortgage Securities 07-PW18, AM 6.084% due 6/11/49(d) 725 729 Bear Stearns Structured Products, Inc. 04-15, A2 144A 0% due 11/27/34(b) 146 139 Bear Stearns Structured Products, Inc. 05-10 144A 7.365% due 4/26/35(b) (d) 390 367 Bear Stearns Structured Products, Inc. 05-20N, B 144A 8.289% due 10/25/45(b) (d) 750 603 Chase Mortgage Finance Corp. 06-A1, 4A1 6.044% due 9/25/36(d) 1,223 1,236 Citicorp Mortgage Securities, Inc. 06-7, 1A1 6.000% due 12/25/36 976 982 First Horizon Asset Securities, Inc. 05-AR1, 2A1 5.012% due 4/25/35(d) 646 650 Franchise Mortgage Acceptance Co. Loan Receivables Trust 98-CA, A2 144A 6.660% due 1/15/12(b) 200 192 Harborview Net Interest Margin Corp. 06-12, N1 144A 6.409% due 12/19/36(b) 74 73 IndyMac Index Mortgage Loan Trust 06-AR25, 3A1 6.368% due 9/25/36(d) 1,020 1,022 Lehman Brothers-UBS Commercial Mortgage Trust 07-C2, H 144A 6.180% due 2/15/40(b) (d) 850 577 Lehman XS Net Interest Margin 06-GPM5, A1 144A 6.250% due 10/28/46(b) 134 133 Lehman XS Net Interest Margin 06-GPM7, A1 144A 6.250% due 12/28/46(b) 119 118 PAR VALUE VALUE (000) (000) --------- -------- MASTR Resecuritization Trust 05-1 144A 5.000% due 10/28/34(b) $ 334 $ 317 Residential Accredit Loans, Inc. 02-QS12, B1 6.250% due 9/25/32 402 334 Residential Accredit Loans, Inc. 05-QA4, A5 5.450% due 4/25/35(d) 840 825 Structured Asset Securities Corp. 03-32, 1A1 5.210% due 11/25/33(d) 544 534 Structured Asset Securities Corp. 05-1, 6A1 6.000% due 2/25/35 895 888 Timberstar Trust 06-1, C 144A 5.884% due 10/15/36(b) 1,000 922 Wells Fargo Mortgage Backed Securities Trust 05-5, 1A1 5.000% due 5/25/20 566 558 ------------------------------------------------------------------------- TOTAL NON-AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $14,018) 13,246 ------------------------------------------------------------------------- FOREIGN GOVERNMENT SECURITIES--18.8% ARGENTINA--1.7% Republic of Argentina PIK Interest Capitalization 8.280% due 12/31/33 1,141 1,098 Republic of Argentina Series GDP 0% due 12/15/35(d) 12,493 1,443 -------- 2,541 -------- AUSTRALIA--2.1% Commonwealth of Australia Series 909 7.500% due 9/15/09 3,375(j) 2,995 -------- BRAZIL--3.0% Federative Republic of Brazil 12.500% due 1/5/16 2,309(k) 1,412 12.500% due 1/5/22 1,125(k) 708 10.250% due 1/10/28 2,050(k) 1,107 11.000% due 8/17/40 840 1,123 -------- 4,350 -------- CANADA--1.0% Commonwealth of Canada 4.250% due 9/1/09 1,400(l) 1,429 -------- GERMANY--0.3% Federal Republic of Germany 144A 3.250% due 4/17/09(b) 265(m) 383 -------- 5
N-Q56th “Page” of 101TOC1stPreviousNextBottomJust 56th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- HUNGARY--0.5% Republic of Hungary 6.250% due 4/24/09 125,000(n) $ 711 -------- INDONESIA--0.2% Republic of Indonesia 144A 7.250% due 4/20/15(b) $ 350 371 -------- NEW ZEALAND--1.1% Commonwealth of New Zealand Series 708 6.000% due 7/15/08 2,110(o) 1,611 -------- NORWAY--1.4% Kingdom of Norway 5.500% due 5/15/09 10,575(p) 1,969 -------- PHILIPPINES--0.7% Republic of Philippines 7.750% due 1/14/31 850 985 -------- RUSSIA--0.1% Russian Federation RegS 7.500% due 3/31/30(d) (f) 149 170 -------- SINGAPORE--0.3% Singapore Government 2.500% due 10/1/12 550(r) 386 -------- SOUTH AFRICA--0.5% Republic of South Africa Series R153 13.000% due 8/31/10 4,600(s) 729 -------- SWEDEN--0.3% Kingdom of Sweden Series 1043 5.000% due 1/28/09 3,125(t) 487 -------- TRINIDAD AND TOBAGO--0.1% Republic of Trinidad and Tobago RegS 9.875% due 10/1/09(f) 135 148 -------- TURKEY--2.0% Republic of Turkey 0% due 5/6/09 2,150(u) 1,491 9.000% due 6/30/11 500 559 11.500% due 1/23/12 450 547 7.250% due 3/15/15 250 269 -------- 2,866 -------- PAR VALUE VALUE (000) (000) --------- -------- UKRAINE--0.2% Republic of Ukraine 144A 6.580% due 11/21/16(b) $ 250 $ 246 -------- VENEZUELA--3.3% Republic of Venezuela 7.650% due 4/21/25 750 643 9.250% due 9/15/27 1,975 1,975 Republic of Venezuela RegS 5.375% due 8/7/10(f) 2,260 2,130 -------- 4,748 -------- ------------------------------------------------------------------------- TOTAL FOREIGN GOVERNMENT SECURITIES (IDENTIFIED COST $25,689) 27,125 ------------------------------------------------------------------------- FOREIGN CORPORATE BONDS(e)--14.1% BRAZIL--1.2% GTL Trade Finance, Inc. 144A 7.250% due 10/20/17(b) 545 554 Morgan Stanley 144A 10.090% due 5/3/17(b) 1,000(k) 511 Vale Overseas Ltd. 6.250% due 1/11/16 500 504 6.250% due 1/23/17(i) 140 141 -------- 1,710 -------- CANADA--1.0% Catalyst Paper Corp. 7.375% due 3/1/14 375 285 EnCana Corp. 5.900% due 12/1/17 240 246 European Investment Bank 144A 4.600% due 1/30/37(b) 375(l) 372 Rogers Wireless Communications, Inc. 6.375% due 3/1/14 575 593 -------- 1,496 -------- CHILE--0.8% Empresa Nacional de Electricidad SA 8.350% due 8/1/13 350 397 Petropower I Funding Trust 144A 7.360% due 2/15/14(b) 712 712 -------- 1,109 -------- CYPRUS--0.1% ABH Financial Ltd. (Alfa Markets Ltd.) 144A 8.200% due 6/25/12(b) 150 141 -------- 6
N-Q57th “Page” of 101TOC1stPreviousNextBottomJust 57th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- EGYPT--0.2% Orascom Telecom Finance SCA 144A 7.875% due 2/8/14(b) $ 300 $ 285 -------- GERMANY--0.3% Aries Vermoegensverwaltung GmbH 144A 7.750% due 10/25/09(b) 250(m) 397 -------- HONG KONG--0.3% China Properties Group Ltd. 144A 9.125% due 5/4/14(b) 500 411 -------- INDIA--0.2% ICICI Bank Ltd. 144A 6.375% due 4/30/22(b) (d) 375 340 -------- JAPAN--0.5% Resona Bank Ltd. 144A 5.850% due 9/29/49(b) (d) 750 698 -------- KAZAKHSTAN--0.8% Kazkommerts International BV RegS 8.000% due 11/3/15(f) 250 206 TengizChevroil Finance Co. S.A.R.L. 144A 6.124% due 11/15/14(b) 1,000 948 -------- 1,154 -------- LUXEMBOURG--0.3% TNK-BP Finance SA 144A 7.500% due 3/13/13(b) 325 326 Tyco Electronic Group SA 144A 6.000% due 10/1/12(b) 125 128 -------- 454 -------- MALAYSIA--0.5% Malaysia International Shipping Corp. Capital Ltd. 144A 6.125% due 7/1/14(b) 750 775 -------- MEXICO--0.2% Vitro S.A. de C.V. 8.625% due 2/1/12 370 350 -------- NETHERLANDS--0.6% Majapahit Holding BV 144A 7.250% due 6/28/17(b) 825 794 -------- PAR VALUE VALUE (000) (000) --------- -------- RUSSIA--3.1% European Bank for Reconstruction & Development 6.000% due 2/14/12 28,400(q) $ 1,124 Gazprom International SA 144A 7.201% due 2/1/20(b) $ 906 921 Gazprom OAO (Gaz Capital SA) 144A(b) 6.212% due 11/22/16 935 900 6.510% due 3/7/22 315 300 OJSC AK Transneft (TransCapitalInvest Ltd.) 144A 5.670% due 3/5/14(b) 390 374 OJSC Vimpel Communications (UBS Luxembourg SA) 144A 8.375% due 10/22/11(b) 500 513 Russian Agricultural Bank OJSC (RSHB Capital SA) 144A 6.299% due 5/15/17(b) 380 361 -------- 4,493 -------- SINGAPORE--0.4% UOB Cayman Ltd. 144A 5.796% due 12/29/49(b) (d) 500 498 -------- SOUTH KOREA--1.1% Hynix Semiconductor, Inc. 144A 7.875% due 6/27/17(b) 700 635 Woori Bank 144A 6.125% due 5/3/16(b) (d) 1,000 1,006 -------- 1,641 -------- SWITZERLAND--0.2% Petroplus Finance Ltd. 144A 6.750% due 5/1/14(b) 375 351 -------- UNITED ARAB EMIRATES--0.6% Abu Dhabi National Energy Co. 144A 5.875% due 10/27/16(b) 825 809 -------- UNITED KINGDOM--0.6% Ineos Group Holdings plc 144A 8.500% due 2/15/16(b) 500 447 Vodafone Group plc 6.150% due 2/27/37 375 372 -------- 819 -------- UNITED STATES--0.6% Nova Chemicals Corp. 7.863% due 11/15/13(d) 975 916 -------- 7
N-Q58th “Page” of 101TOC1stPreviousNextBottomJust 58th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- VENEZUELA--0.5% Petroleos de Venezuela S.A. 5.250% due 4/12/17 $ 950 $ 677 -------- ------------------------------------------------------------------------- TOTAL FOREIGN CORPORATE BONDS (IDENTIFIED COST $20,956) 20,318 ------------------------------------------------------------------------- DOMESTIC CONVERTIBLE BONDS--0.2% PHARMACEUTICALS--0.2% Par Pharmaceutical Cos., Inc. 2.875% due 9/30/10 300 278 -------- ------------------------------------------------------------------------- TOTAL DOMESTIC CONVERTIBLE BONDS (IDENTIFIED COST $264) 278 ------------------------------------------------------------------------- DOMESTIC LOAN AGREEMENTS--12.4% ADVERTISING--0.1% Lamar Media Corp. Tranche F 6.875% due 3/31/14(d) 125 125 -------- ALTERNATIVE CARRIERS--0.6% Level 3 Communications, Inc. Tranche B 7.605% due 3/13/14(d) 90 86 Time Warner Telecom Holdings Tranche B 8.471% due 1/7/13(d) 750 725 -------- 811 -------- APPAREL RETAIL--0.6% Hanesbrands, Inc. Tranche B 6.711% due 9/5/13(d) 157 153 HBI Branded Apparel Ltd., Inc. Tranche 2 9.110% due 3/15/14(d) 200 200 Totes Isotoner Corp. Tranche 2 11.360% due 1/16/14(d) 500 470 -------- 823 -------- APPLICATION SOFTWARE--0.2% Reynolds & Reynolds Co. (The) Tranche 7.198% due 10/24/12(d) 304 293 -------- ASSET MANAGEMENT & CUSTODY BANKS--0.0% Nuveen Investments, Inc. Tranche B 7.841% due 11/13/14(d) 64 63 -------- AUTO PARTS & EQUIPMENT--0.5% Mark IV Industries, Inc. Tranche 2 11.100% due 12/19/11(d) 175 158 PAR VALUE VALUE (000) (000) --------- -------- AUTO PARTS & EQUIPMENT--(CONTINUED) Mark IV Industries, Inc. Tranche B 7.862% due 6/21/11(d) $ 595 $ 558 -------- 716 -------- AUTOMOBILE MANUFACTURERS--0.5% Ford Motor Co. Tranche B 8.700% due 12/15/13(d) 374 347 General Motors Corp. Tranche B 7.615% due 11/29/13(d) 471 444 -------- 791 -------- AUTOMOTIVE RETAIL--0.2% Hertz Corp. Letter of Credit 7.110% due 12/21/12(d) 50 49 Hertz Corp. Tranche B 7.100% due 12/21/12(d) 237 232 -------- 281 -------- BROADCASTING & CABLE TV--0.5% Charter Communications Operating LLC Tranche 6.990% due 3/6/14(d) 744 697 -------- CASINOS & GAMING--0.1% Wimar Operating Co. LLC Tranche B 7.610% due 1/3/12(d) 83 82 -------- DATA PROCESSING & OUTSOURCED SERVICES--0.3% First Data Corp. Tranche B3 7.710% due 9/24/14(d) 500 476 -------- DEPARTMENT STORES--0.8% Neiman-Marcus Group, Inc. (The) Tranche 7.346% due 4/6/13(d) 1,213 1,167 -------- DIVERSIFIED CHEMICALS--0.5% Celanese Holdings LLC Tranche B 8.141% due 3/30/14(d) 750 718 -------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.1% ARAMARK Corp. Letter of Credit 7.360% due 1/26/14(d) 11 11 ARAMARK Corp. Tranche B 7.470% due 1/26/14(d) 158 149 -------- 160 -------- ELECTRIC UTILITIES--0.2% Energy Future Holdings Tranche B2 8.645% due 10/10/14(d) 265 260 -------- 8
N-Q59th “Page” of 101TOC1stPreviousNextBottomJust 59th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- ELECTRICAL COMPONENTS & EQUIPMENT--0.2% Baldor Electric Co. Tranche 6.859% due 1/31/14(d) $ 373 $ 368 -------- ELECTRONIC EQUIPMENT MANUFACTURERS--0.2% Metrologic Instruments, Inc. Tranche 8.070% due 12/21/13(d) 248 240 -------- ENVIRONMENTAL & FACILITIES SERVICES--0.2% Allied Waste North America, Inc. Letter of Credit A 7.071% due 3/28/14(d) 122 117 Allied Waste North America, Inc. Tranche B 7.170% due 3/28/14(d) 230 221 -------- 338 -------- HEALTH CARE FACILITIES--0.5% HCA, Inc. Tranche B 7.610% due 11/16/13(d) 263 254 Health Management Associates, Inc. Tranche B 7.110% due 2/28/14(d) 199 186 LifePoint Hospitals, Inc. Tranche B 7.165% due 4/15/12(d) 227 218 -------- 658 -------- HOUSEWARES & SPECIALTIES--0.1% Yankee Candle Co., Inc. Tranche B 8.891% due 2/6/14(d) 150 141 -------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.6% NRG Energy, Inc. Letter of Credit L 7.110% due 2/1/13(d) 669 668 NRG Energy, Inc. Tranche B1 7.110% due 2/1/13(d) 275 262 -------- 930 -------- INTEGRATED TELECOMMUNICATION SERVICES--0.3% NTELOS, Inc. Tranche B1 7.570% due 8/24/11(d) 460 456 -------- LEISURE FACILITIES--0.3% AMF Bowling Worldwide, Inc. Tranche B 8.208% due 5/17/13(d) 524 495 -------- OIL & GAS DRILLING--0.2% Hercules Offshore, Inc. Tranche 7.110% due 7/11/13(d) 249 243 -------- PAR VALUE VALUE (000) (000) --------- -------- OIL & GAS EQUIPMENT & SERVICES--0.3% Helix Energy Solutions Group, Inc. Tranche 6.847% due 7/1/13(d) $ 386 $ 372 -------- PAPER PRODUCTS--1.3% Georgia-Pacific Corp. Tranche A 7.109% due 12/20/10(d) 394 383 Georgia-Pacific Corp. Tranche B1 7.110% due 12/20/12(d) 663 634 NewPage Corp. Tranche B(d) 7.625% due 5/2/11 800 800 9.891% due 12/20/14 125 121 -------- 1,938 -------- PUBLISHING--0.8% Idearc, Inc. Tranche B 7.200% due 11/17/14(d) 993 948 Tribune Co. Tranche B 8.360% due 5/17/14(d) 214 183 -------- 1,131 -------- RESTAURANTS--0.3% Burger King Corp. Tranche B1 6.875% due 6/30/12(d) 375 369 -------- SPECIALIZED FINANCE--0.9% Solar Capital Corp. Tranche 7.937% due 2/28/14(d) 1,422 1,376 -------- SPECIALTY CHEMICALS--0.1% JohnsonDiversey, Inc. Tranche B 7.860% due 12/16/11(d) 124 121 -------- TRADING COMPANIES & DISTRIBUTORS--0.2% United Rentals, Inc. Letter of Credit 7.320% due 2/14/11 70 69 United Rentals, Inc. Tranche B 7.720% due 2/14/11(d) 166 162 -------- 231 -------- WIRELESS TELECOMMUNICATION SERVICES--0.7% ALLTEL Communications, Inc. Tranche B3 9.029% due 5/15/15(d) 375 360 9
N-Q60th “Page” of 101TOC1stPreviousNextBottomJust 60th
Phoenix Multi-Sector Fixed Income Fund PAR VALUE VALUE (000) (000) --------- -------- WIRELESS TELECOMMUNICATION SERVICES--(CONTINUED) Cricket Communications, Inc. Tranche B1 8.117% due 6/16/13(d) $ 617 $ 610 -------- 970 -------- ------------------------------------------------------------------------- TOTAL DOMESTIC LOAN AGREEMENTS (IDENTIFIED COST $18,381) 17,840 ------------------------------------------------------------------------- FOREIGN LOAN AGREEMENTS--0.6% GERMANY--0.5% Fresenius Medical Care AG & Co. KGaA Tranche B 6.700% due 3/31/13(d) 676 658 -------- UNITED STATES--0.1% Bausch & Lomb, Inc. Tranche 8.127% due 4/11/15(d) 153(m) 222 -------- ------------------------------------------------------------------------- TOTAL FOREIGN LOAN AGREEMENTS (IDENTIFIED COST $891) 880 ------------------------------------------------------------------------- FOREIGN CREDIT LINKED NOTES--0.2% INDONESIA--0.2% Republic of Indonesia (Citigroup, Inc.) 11.867% due 6/15/09 380 335 -------- ------------------------------------------------------------------------- TOTAL FOREIGN CREDIT LINKED NOTES (IDENTIFIED COST $350) 335 ------------------------------------------------------------------------- SHARES ------- DOMESTIC CONVERTIBLE PREFERRED STOCKS--0.2% DIVERSIFIED METALS & MINING--0.2% Vale Capital Ltd. 5.500% 4,000 259 -------- ------------------------------------------------------------------------- TOTAL DOMESTIC CONVERTIBLE PREFERRED STOCKS (IDENTIFIED COST $200) 259 ------------------------------------------------------------------------- DOMESTIC COMMON STOCKS--0.0% INTEGRATED TELECOMMUNICATION SERVICES--0.0% AT&T Latin America Corp. Class A(c) 137,550 1 -------- PAPER PRODUCTS--0.0% Northampton Pulp LLC(c) (g) (h) 3,650 0 -------- ------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $605) 1 ------------------------------------------------------------------------- EXCHANGE TRADED FUNDS--1.9% DIAMONDS(R) Trust Series I 7,811 1,035 VALUE SHARES (000) ------- ------- iShares MSCI EAFE(R) Index Fund 13,460 $ 1,057 iShares Russell 2000(R) Index Fund 4,769 363 PowerShares QQQ 7,000 359 ------------------------------------------------------------------------- TOTAL EXCHANGE TRADED FUNDS (IDENTIFIED COST $2,890) 2,814 ------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--98.3% (IDENTIFIED COST $144,431) 141,808 -------- PAR VALUE VALUE (000) (000) --------- ------- SHORT-TERM INVESTMENTS--1.9% COMMERCIAL PAPER(v)--1.9% Eaton Corp. 4.250% due 1/2/08 $2,710 2,710 -------- ------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $2,710) 2,710 ------------------------------------------------------------------------- TOTAL INVESTMENTS--100.2% (IDENTIFIED COST $147,141) 144,518(a) Other assets and liabilities, net--(0.2)% (317) -------- NET ASSETS--100.0% $144,201 ======== At December 31, 2007, the Fund had entered into forward currency contracts as follows (reported in 000's): Net Unrealized Contract to Settlement Appreciation Receive In Exchange for Date Value (Depreciation) ------------------------------------------------------------------------------ JPY 158,046 USD 1,483 2/29/08 $ 1,424 $ (59) ---------- USD United States Dollar JPY Japanese Yen 10
N-Q61st “Page” of 101TOC1stPreviousNextBottomJust 61st
Phoenix Multi-Sector Fixed Income Fund (a) Federal Income Tax Information (reported in 000's): Net unrealized depreciation of investment securities is comprised of gross appreciation of $1,034 and gross depreciation of $4,125 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $147,609. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $25,571 (reported in 000's) or 17.7% of net assets. (c) Non-income producing. (d) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (e) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, or parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (f) Regulation S security. Security is offered and sold outside of the United States, therefore, it is exempt from registration with the SEC under rules 903 and 904 of the Securities Act of 1933. (g) Illiquid and restricted security. Security valued at fair value as determined in good faith by or under the direction of the Trustees. At December 31, 2007, this security amounted to a value of $6 (reported in 000's) or 0% of net assets. For acquisition information, see Note 2 "Illiquid and Restricted Securities" in the Notes to Schedules of Investments. (h) Illiquid Security. (i) All or a portion segregated as collateral for forward currency contracts. (j) Par value represents Australian Dollar. (k) Par value represents Brazilian Real. (l) Par value represents Canadian Dollar. (m) Par value represents Euro. (n) Par value represents Hungarian Forint. (o) Par value represents New Zealand Dollar. (p) Par value represents Norwegian Krone. (q) Par value represents Russian Ruble. (r) Par value represents Singapore Dollar. (s) Par value represents South African Rand. (t) Par value represents Swedish Krona. (u) Par value represents Turkish Lira. (v) The rate shown is the discount rate. 11
N-Q62nd “Page” of 101TOC1stPreviousNextBottomJust 62nd
Phoenix Multi-Sector Short Term Bond Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) PAR VALUE VALUE (000) (000) ----------- ------------ U.S. GOVERNMENT SECURITIES--2.8% U.S. TREASURY NOTES--2.8% U.S. Treasury Note 3.125% due 11/30/09 $ 38,000 $ 38,042 4.125% due 8/31/12 2,000 2,059 3.375% due 11/30/12 10,500 10,465 ---------------------------------------------------------------------------- TOTAL U.S. GOVERNMENT SECURITIES (IDENTIFIED COST $50,409) 50,566 ---------------------------------------------------------------------------- AGENCY MORTGAGE-BACKED SECURITIES--7.3% FHLMC 4.650% due 10/10/13 4,785 4,760 6.000% due 8/1/34 2,453 2,493 FNMA 5.500% due 1/1/17 902 915 6.000% due 5/1/17 266 272 5.500% due 8/1/17 147 149 4.500% due 4/1/18 1,824 1,795 5.000% due 4/1/18 1,737 1,741 5.000% due 10/1/19 3,177 3,183 5.500% due 2/1/20 1,075 1,089 5.500% due 3/1/20 5,289 5,359 5.500% due 4/1/20 1,868 1,893 5.000% due 6/1/20 5,141 5,146 5.000% due 8/1/20 6,397 6,404 6.000% due 12/1/32 340 347 5.500% due 2/1/33 850 851 5.500% due 5/1/34 2,872 2,873 6.000% due 8/1/34 4,127 4,199 5.500% due 10/1/34 2,692 2,692 6.000% due 10/1/34 3,976 4,043 5.500% due 11/1/34 5,739 5,739 6.000% due 11/1/34 2,885 2,933 5.500% due 12/1/34 1,754 1,752 5.500% due 1/1/35 6,693 6,693 5.500% due 2/1/35 3,261 3,261 5.500% due 3/1/35 3,284 3,282 5.500% due 4/1/35 3,760 3,760 6.500% due 8/1/36 11,434 11,755 6.000% due 10/1/36 6,482 6,584 6.000% due 1/1/37 7,022 7,132 PAR VALUE VALUE (000) (000) ----------- ------------ FNMA 04-W6, 1A4 5.500% due 7/25/34 $ 10,280 $ 10,281 FNMA 05-57, CK 5.000% due 7/25/35 4,073 4,068 FNMA 05-65, DK 5.000% due 8/25/35 3,023 3,018 FNMA 05-65, PJ 5.000% due 8/25/35 5,101 5,092 FNMA 05-74, AG 5.000% due 9/25/35 2,564 2,561 FNMA 05-80, AD 5.500% due 9/25/35 4,645 4,616 GNMA 6.500% due 7/15/31 57 59 6.500% due 8/15/31 144 149 6.500% due 11/15/31 105 109 6.500% due 2/15/32 72 74 6.500% due 4/15/32 350 362 ---------------------------------------------------------------------------- TOTAL AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $132,664) 133,484 ---------------------------------------------------------------------------- AGENCY NON-MORTGAGE-BACKED SECURITIES--2.3% FHLB 6.000% due 6/29/22 8,995 9,299 FHLMC 5.375% due 1/9/14 12,495 12,591 5.200% due 3/5/19 20,010 20,028 ---------------------------------------------------------------------------- TOTAL AGENCY NON-MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $40,971) 41,918 ---------------------------------------------------------------------------- MUNICIPAL BONDS--3.9% CALIFORNIA--0.1% Fresno County Pension Obligation Taxable (FGIC Insured) 6.060% due 8/15/09 1,915 1,963 ---------- COLORADO--0.6% Colorado Department of Transportation (AMBAC Insured) 6.000% due 6/15/11 9,675 10,381 ---------- 1
N-Q63rd “Page” of 101TOC1stPreviousNextBottomJust 63rd
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ CONNECTICUT--0.2% Mashantucket Western Pequot Tribe Taxable Series A 144A (MBIA Insured) 6.910% due 9/1/12 (b) $ 3,000 $ 3,172 ---------- GEORGIA--0.7% State of Georgia Series C 5.250% due 7/1/16 4,845 5,095 5.250% due 7/1/18 6,940 7,299 ---------- 12,394 ---------- MARYLAND--0.4% State of Maryland 5.000% due 8/1/10 7,385 7,737 ---------- MASSACHUSETTS--0.4% Commonwealth of Massachusetts General Obligation Series C (FSA Insured) 5.500% due 12/1/17 6,540 7,491 ---------- NEW YORK--0.4% New York State Dormitory Authority Higher Education Taxable Series B 3.350% due 12/15/09 2,500 2,453 Sales Tax Asset Receivable Corp. Taxable Series B (FGIC Insured) 3.830% due 10/15/09 5,000 4,937 ---------- 7,390 ---------- PENNSYLVANIA--0.4% Philadelphia School District Taxable Series C (FSA Insured) 4.110% due 7/1/08 2,470 2,465 4.200% due 7/1/09 2,570 2,558 4.290% due 7/1/10 2,255 2,240 4.430% due 7/1/11 1,015 1,007 ---------- 8,270 ---------- SOUTH DAKOTA--0.0% South Dakota State Educational Enhancement Funding Corp. Taxable Series A 6.720% due 6/1/25 146 145 ---------- TEXAS--0.6% Houston Independent School District (FSA Insured) 5.500% due 7/15/18 9,675 10,426 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ WASHINGTON--0.1% Washington State Housing Trust Fund Taxable Series T 5.000% due 7/1/08 $ 1,000 $ 1,003 ---------- ---------------------------------------------------------------------------- TOTAL MUNICIPAL BONDS (IDENTIFIED COST $70,233) 70,372 ---------------------------------------------------------------------------- ASSET-BACKED SECURITIES--8.0% AmeriCredit Automobile Receivables Trust 06-1, E 144A 6.620% due 5/6/13(b) 2,397 2,388 Amerifirst Home Improvement Finance Trust 06-1 9.753% due 7/17/17(c) 4,536 4,536 Bayview Financial Acquisition Trust 06-B, 1A2 5.800% due 4/28/36(c) 4,000 3,956 Bombardier Capital Mortgage Securitization Corp. 99-A, A3 5.980% due 1/15/18(c) 3,165 3,086 Capital Auto Receivables Asset Trust 06-1, D 144A 7.160% due 1/15/13(b) 2,000 2,052 Capital One Auto Finance Trust 06-A, A3 5.330% due 11/15/10 3,734 3,735 Carmax Auto Owner Trust 05-1, C 4.820% due 10/15/11 4,135 4,107 Chase Funding Mortgage Loan Asset-Backed Certificates 04-1, 1A4 4.111% due 8/25/30 4,232 4,168 Citicorp Residential Mortgage Securities, Inc. 07-2, A4 6.538% due 6/25/37(c) 5,000 4,850 Conseco Finance Securitizations Corp. 01-3, A4 6.910% due 5/1/33(c) 13,841 13,917 Conseco Finance Securitizations Corp. 02-2, A2 6.030% due 3/1/33(c) 2,308 2,268 Credit Based Asset Servicing and Securitization LLC 07-CB1, AF2 5.721% due 1/25/37(c) 5,000 4,596 Dunkin Securitization 06-1, M1 144A 8.285% due 6/20/31(b) 6,345 6,414 Great America Leasing Receivables 05-1, A4 144A 4.970% due 8/20/10(b) 6,700 6,710 Green Tree Financial Corp. 99-2, M2 7.210% due 12/1/30(c) 2,814 471 GSAMP Trust 05-S1, B3 7.250% due 12/25/34(c) (t) 986 10 2
N-Q64th “Page” of 101TOC1stPreviousNextBottomJust 64th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ GSAMP Trust 06-S4, M6 6.065% due 5/25/36(c) $ 10,026 $ 100 Home Equity Asset Trust 06-7, A 144A 6.000% due 2/25/37(b) (s) 2,119 127 Hyundai Auto Receivables Trust 06-A, D 5.520% due 11/15/12 3,819 3,777 IndyMac Manufactured Housing Contract 98-1, A3 6.370% due 9/25/28 2,575 2,502 Long Beach Auto Receivables Trust 04-A, A2 2.841% due 7/15/10(c) 1,109 1,098 Long Grove Collateral Loan Obligation Ltd. 04-1A, C 144A 7.430% due 5/25/16(b) (c) 1,600 1,508 Long Grove Collateral Loan Obligation Ltd. 04-1A, D 144A 11.780% due 5/25/16(b) (c) 500 487 MASTR Alternative Net Interest Margin 06-6, N1 144A 5.865% due 9/26/46(b) (c) (s) 1,396 98 Merrill Auto Trust Securitization 07-1, B 5.790% due 12/15/13 7,000 6,856 Nomura Asset Acceptance Corp. 07-1, 1A2 5.669% due 3/25/47(c) 9,100 8,190 Renaissance Home Equity Loan Trust 05-3, AF4 5.140% due 11/25/35(c) 5,380 4,944 Renaissance Home Equity Loan Trust 06-2, AF4 6.115% due 8/25/36(c) 5,640 5,572 Renaissance Net Interest Margin Trust 07-2, N 144A 8.353% due 6/25/37(b) 2,534 2,154 Residential Funding Mortgage Securities 06-HI2, A3 5.790% due 2/25/36 1,510 1,347 Residential Funding Mortgage Securities II, Inc. 04-HI3, A4 4.630% due 1/25/20 4,238 4,200 Residential Funding Mortgage Securities II, Inc. 05-HI2, A3 4.460% due 5/25/35 2,847 2,827 Residential Funding Mortgage Securities II, Inc. 07-HI1, A2 5.640% due 3/25/37 10,000 9,836 Residential Funding Mortgage Securities II, Inc. 07-HSA3, AI2 5.890% due 5/25/37(c) 7,340 7,161 PAR VALUE VALUE (000) (000) ----------- ------------ Soundview Home Equity Loan Trust 05-CTX1, A3 5.322% due 11/25/35(c) $ 3,900 $ 3,879 Structured Asset Securities Corp. 05-7XS, 1A2B 5.270% due 4/25/35(c) 7,161 7,096 Taganka Car Loan Finance plc 06-1A, A 144A 6.800% due 11/14/13(b) (c) 329 328 Vanderbuilt Acquisition Loan Trust 02-1, A3 5.700% due 9/7/23(c) 202 203 Wachovia Auto Loan Owner Trust 06-2A E 144A 7.050% due 5/20/14(b) 4,999 4,442 ---------------------------------------------------------------------------- TOTAL ASSET-BACKED SECURITIES (IDENTIFIED COST $164,025) 145,996 ---------------------------------------------------------------------------- DOMESTIC CORPORATE BONDS--18.8% AEROSPACE & DEFENSE--0.3% L-3 Communications Corp. 7.625% due 6/15/12 4,445 4,573 L-3 Communications Corp. Series B 6.375% due 10/15/15 1,500 1,485 ---------- 6,058 ---------- AGRICULTURAL PRODUCTS--0.3% Cargill, Inc. 144A 5.600% due 9/15/12(b) 4,845 4,924 ---------- AIRLINES--2.9% American Airlines, Inc. 01-1 6.977% due 11/23/22 17,415 16,109 Continental Airlines, Inc. 98-1A 6.648% due 3/15/19 2,816 2,830 Delta Air Lines, Inc. 00-1 7.379% due 11/18/11 12,605 12,668 JetBlue Airways Corp. 04-1 9.240% due 3/17/08(c) 3,729 3,711 JetBlue Airways Corp. 04-2 7.969% due 5/15/10(c) 2,258 2,247 PBG Aircraft Trust 144A 6.765% due 10/1/12(b) 4,993 5,193 United Airlines, Inc. 00-2 7.032% due 4/1/12 4,097 4,097 United Airlines, Inc. 01-1 6.071% due 9/1/14 6,119 6,081 ---------- 52,936 ---------- 3
N-Q65th “Page” of 101TOC1stPreviousNextBottomJust 65th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ APPLICATION SOFTWARE--0.1% Intuit, Inc. 5.750% due 3/15/17 $ 1,393 $ 1,370 ---------- ASSET MANAGEMENT & CUSTODY BANKS--0.3% Janus Capital Group, Inc. 6.250% due 6/15/12 2,663 2,727 Nuveen Investment, Inc. 144A 10.500% due 11/15/15(b) 800 801 Nuveen Investments, Inc. 5.000% due 9/15/10 2,370 2,174 ---------- 5,702 ---------- AUTOMOBILE MANUFACTURERS--0.2% DaimlerChrysler NA Holding Corp. 6.500% due 11/15/13 3,390 3,543 ---------- AUTOMOTIVE RETAIL--0.1% Hertz Corp.(The) 8.875% due 1/1/14 2,595 2,644 ---------- BROADCASTING & CABLE TV--0.6% Comcast Cable Holdings LLC 7.875% due 8/1/13 3,800 4,164 COX Communications, Inc. 3.875% due 10/1/08 1,000 989 4.625% due 6/1/13 5,620 5,377 ---------- 10,530 ---------- BUILDING PRODUCTS--0.1% Esco Corp. 144A 8.625% due 12/15/13(b) 1,725 1,734 ---------- CASINOS & GAMING--0.3% Harrah's Operating Co., Inc. 5.500% due 7/1/10 1,500 1,396 MGM Mirage 8.500% due 9/15/10 2,835 2,956 Seminole Hard Rock Entertainment, Inc./ Seminole Hard Rock International LLC 144A 7.490% due 3/15/14(b) (c) 767 736 ---------- 5,088 ---------- CONSUMER FINANCE--2.6% Ford Motor Credit Co. LLC 6.625% due 6/16/08 1,100 1,084 5.625% due 10/1/08 12,490 12,129 PAR VALUE VALUE (000) (000) ----------- ------------ CONSUMER FINANCE--(CONTINUED) 9.875% due 8/10/11 $ 3,480 $ 3,294 7.992% due 1/13/12(c) 2,000 1,681 9.810% due 4/15/12(c) 3,389 3,321 GMAC LLC 6.034% due 9/23/08(c) 2,000 1,933 6.119% due 5/15/09(c) 4,815 4,486 6.875% due 9/15/11 4,205 3,600 6.750% due 12/1/14 900 727 HSBC Finance Corp. 4.125% due 11/16/09 2,000 1,977 MBNA Corp. 4.625% due 9/15/08 2,300 2,294 Residential Capital LLC 7.625% due 11/21/08 1,920 1,536 7.500% due 2/22/11 4,555 2,858 SLM Corp. 4.035% due 2/1/10(c) 8,000 7,269 ---------- 48,189 ---------- DATA PROCESSING & OUTSOURCED SERVICES--0.3% Convergys Corp. 4.875% due 12/15/09 3,000 3,039 First Data Corp. 144A 9.875% due 9/24/15(b) 3,000 2,794 ---------- 5,833 ---------- DISTILLERS & VINTNERS--0.1% Constellation Brands, Inc. 8.375% due 12/15/14 1,749 1,762 ---------- DIVERSIFIED BANKS--0.2% KeyBank NA 5.700% due 8/15/12 1,800 1,864 Wells Fargo & Co. 3.125% due 4/1/09 1,500 1,471 ---------- 3,335 ---------- DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.1% International Lease Finance Corp. 4.750% due 1/13/12 1,120 1,105 ---------- DIVERSIFIED METALS & MINING--0.1% Freeport-McMoRan Copper & Gold, Inc. (Indonesia) 6.875% due 2/1/14(d) 2,170 2,192 ---------- 4
N-Q66th “Page” of 101TOC1stPreviousNextBottomJust 66th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ ELECTRIC UTILITIES--0.5% Consumers Energy Co. Series H 4.800% due 2/17/09 $ 2,000 $ 1,995 Entergy Gulf States, Inc. 3.600% due 6/1/08 3,500 3,474 PPL Capital Funding Trust I Series A 4.330% due 3/1/09 4,250 4,219 ---------- 9,688 ---------- ELECTRICAL COMPONENTS & EQUIPMENT--0.2% General Cable Corp. 7.605% due 4/1/15(c) 3,375 3,223 ---------- ENVIRONMENTAL & FACILITIES SERVICES--0.1% Allied Waste North America, Inc. Series B 5.750% due 2/15/11 2,200 2,167 ---------- FOOD RETAIL--0.2% Kroger Co. (The) 8.050% due 2/1/10 1,000 1,065 Safeway, Inc. 4.125% due 11/1/08 2,000 1,978 6.500% due 11/15/08 1,000 1,007 ---------- 4,050 ---------- HEALTH CARE FACILITIES--0.1% HCA, Inc. 9.125% due 11/15/14 1,739 1,813 ---------- HEALTH CARE SERVICES--0.1% Medco Health Solutions, Inc. 7.250% due 8/15/13 1,000 1,095 ---------- HOMEBUILDING--0.1% Horton (D.R.), Inc. 4.875% due 1/15/10 2,500 2,291 ---------- HOTELS, RESORTS & CRUISE LINES--0.2% Starwood Hotels & Resort Worldwide, Inc. 6.250% due 2/15/13 2,815 2,817 ---------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.1% Texas Competitive Electric Holdings Co. LLC 144A 10.250% due 11/1/15(b) 1,390 1,383 ---------- INDUSTRIAL CONGLOMERATES--0.2% Textron Financial Corp. 5.125% due 11/1/10 3,865 3,942 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ INDUSTRIAL MACHINERY--0.0% SPX Corp. 144A 7.625% due 12/15/14(b) $ 250 $ 255 ---------- INTEGRATED OIL & GAS--0.1% Texaco Capital, Inc. 5.500% due 1/15/09 1,035 1,040 ---------- INTEGRATED TELECOMMUNICATION SERVICES--0.8% AT&T Corp. 7.300% due 11/15/11 2,200 2,384 Embarq Corp. 6.738% due 6/1/13 4,300 4,448 Qwest Capital Funding, Inc. 7.250% due 2/15/11 4,000 3,940 Qwest Corp. 7.875% due 9/1/11 4,315 4,487 ---------- 15,259 ---------- INVESTMENT BANKING & BROKERAGE--0.6% Goldman Sachs Group, Inc. (The) 4.750% due 7/15/13 3,225 3,159 Lehman Brothers Holdings, Inc. 6.000% due 7/19/12 5,485 5,585 Piper Jaffray Equipment Trust Securities 144A 6.000% due 9/10/11(b) 3,038 2,886 ---------- 11,630 ---------- LIFE & HEALTH INSURANCE--0.1% Principal Life Global Funding I 144A 4.400% due 10/1/10(b) 1,500 1,510 ---------- LIFE SCIENCES TOOLS & SERVICES--0.2% Fisher Scientific International, Inc. 6.750% due 8/15/14 985 1,009 6.125% due 7/1/15 2,125 2,111 ---------- 3,120 ---------- MORTGAGE REITS--0.3% iStar Financial, Inc. Series B 5.950% due 10/15/13 5,725 4,989 ---------- MOVIES & ENTERTAINMENT--0.2% Time Warner, Inc. 6.875% due 5/1/12 1,500 1,579 Viacom, Inc. 5.750% due 4/30/11 1,800 1,823 ---------- 3,402 ---------- 5
N-Q67th “Page” of 101TOC1stPreviousNextBottomJust 67th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ MULTI-LINE INSURANCE--0.1% ASIF Global Financing XXIII 144A 3.900% due 10/22/08(b) $ 2,000 $ 1,977 ---------- MULTI-UTILITIES--0.1% Pacific Gas & Electric Co. 3.600% due 3/1/09 2,000 1,978 ---------- OFFICE SERVICES & SUPPLIES--0.2% Steelcase, Inc. 6.500% due 8/15/11 2,825 2,961 ---------- OIL & GAS EQUIPMENT & SERVICES--0.1% Halliburton Co. 5.500% due 10/15/10(r) 1,225 1,259 Helix Energy Solutions Group, Inc. 144A 9.500% due 1/15/16(b) 692 708 ---------- 1,967 ---------- OIL & GAS EXPLORATION & PRODUCTION--0.4% Denbury Resources, Inc. 7.500% due 4/1/13 1,000 1,015 Swift Energy Co. 7.625% due 7/15/11 4,875 4,924 XTO Energy, Inc. 5.900% due 8/1/12 1,980 2,051 ---------- 7,990 ---------- OIL & GAS REFINING & MARKETING--0.5% Tesoro Corp. 6.250% due 11/1/12 4,340 4,362 Valero Energy Corp. 4.750% due 6/15/13 4,200 4,072 ---------- 8,434 ---------- OIL & GAS STORAGE & TRANSPORTATION--0.8% Knight, Inc. 6.500% due 9/1/12 4,350 4,346 ONEOK Partners LP 5.900% due 4/1/12 980 1,008 Pacific Energy Partners LP/ Pacific Energy Finance Corp. 7.125% due 6/15/14 2,900 3,018 Transcontinental Gas Pipe Line Corp. Series B 7.000% due 8/15/11 3,865 4,053 PAR VALUE VALUE (000) (000) ----------- ------------ OIL & GAS STORAGE & TRANSPORTATION--(CONTINUED) Williams Cos., Inc. (The) 7.125% due 9/1/11 $ 2,500 $ 2,653 ---------- 15,078 ---------- OTHER DIVERSIFIED FINANCIAL SERVICES--0.8% Bank of America Corp. 7.400% due 1/15/11 3,000 3,224 ERAC USA Finance Co. 144A 5.300% due 11/15/08(b) 2,385 2,369 General Electric Capital Corp. 6.125% due 2/22/11 3,000 3,136 JP Morgan & Co., Inc. 6.250% due 1/15/09 4,900 4,959 MassMutual Global Funding II 144A 3.500% due 3/15/10(b) 1,750 1,733 ---------- 15,421 ---------- PAPER PACKAGING--0.3% Jefferson Smurfit Corp. 8.250% due 10/1/12 1,595 1,579 Packaging Corp. of America 4.375% due 8/1/08 3,000 2,972 ---------- 4,551 ---------- PAPER PRODUCTS--0.5% AbitibiBowater, Inc. 7.990% due 3/15/10(c) 4,850 4,250 Georgia Pacific Corp. 7.700% due 6/15/15 2,820 2,792 Verso Paper Holdings LLC and Verso Paper, Inc. Series B 8.662% due 8/1/14(c) 2,570 2,518 ---------- 9,560 ---------- PROPERTY & CASUALTY INSURANCE--0.1% Berkley (WR) Corp. 5.125% due 9/30/10 2,000 1,995 ---------- REAL ESTATE MANAGEMENT & DEVELOPMENT--0.3% Colonial Realty LP 4.800% due 4/1/11 5,000 4,878 ---------- RETAIL REITS--0.4% Kimco Realty Corp. 4.820% due 8/15/11 1,100 1,068 Simon Property Group LP 6
N-Q68th “Page” of 101TOC1stPreviousNextBottomJust 68th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ RETAIL REITS--(CONTINUED) 4.600% due 6/15/10 $ 3,825 $ 3,802 5.600% due 9/1/11 1,925 1,931 ---------- 6,801 ---------- SPECIALIZED FINANCE--0.4% CIT Group, Inc. 4.750% due 12/15/10 3,500 3,320 Yankee Acquisition Corp. Series B 8.500% due 2/15/15 3,740 3,464 ---------- 6,784 ---------- SPECIALIZED REITS--0.6% Host Hotels & Resorts LP 6.875% due 11/1/14 4,245 4,245 Nationwide Health Properties, Inc. 6.250% due 2/1/13 4,825 5,007 Ventas Realty LP/Ventas Capital Corp. 6.750% due 6/1/10 2,180 2,207 ---------- 11,459 ---------- SPECIALTY CHEMICALS--0.0% Lubrizol Corp. 4.625% due 10/1/09 875 879 ---------- STEEL--0.1% Steel Dynamics, Inc. 144A 7.375% due 11/1/12(b) 1,630 1,646 ---------- THRIFTS & MORTGAGE FINANCE--0.1% Countrywide Home Loans, Inc. 5.625% due 7/15/09 2,750 2,098 ---------- TOBACCO--0.2% Philip Morris Capital Corp. 7.500% due 7/16/09 3,500 3,570 ---------- WIRELESS TELECOMMUNICATION SERVICES--0.1% Nextel Communications, Inc. Series D 7.375% due 8/1/15 2,095 2,063 ---------- ---------------------------------------------------------------------------- TOTAL DOMESTIC CORPORATE BONDS (IDENTIFIED COST $349,135) 342,709 ---------------------------------------------------------------------------- NON-AGENCY MORTGAGE-BACKED SECURITIES--21.0% Adjustable Rate Mortgage Trust 05-3, 2A1 4.695% due 7/25/35(c) 3,320 3,283 PAR VALUE VALUE (000) (000) ----------- ------------ American General Mortgage Loan Trust 06-1, A2 144A 5.750% due 12/25/35(b) (c) $ 8,392 $ 8,330 American Home Mortgage Assets 07-2, M4 5.395% due 3/25/47(c) (t) 5,974 4,141 American Tower Trust L 07-1A, C 144A 5.615% due 4/15/37(b) 3,685 3,458 Asset Securitization Corp. 96-D3, A1C 7.400% due 10/13/26 211 216 Banc of America Alternative Loan Trust 06-9, A1 6.000% due 1/25/37 12,677 12,507 Bear Stearns Commercial Mortgage Securities 04-ESA, J 144A 5.817% due 5/14/16(b) 8,510 8,723 Bear Stearns Structured Products, Inc. 04-15, A2 144A 0% due 11/27/34(b) 2,392 2,278 Bear Stearns Structured Products, Inc. 04-5, A 144A 0% due 2/25/34(b) 146 145 Bear Stearns Structured Products, Inc. 05-10 144A 7.365% due 4/26/35(b) (c) 3,641 3,428 Bear Stearns Structured Products, Inc. 05-20N, A 144A 6.877% due 10/25/45(b) (c) 2,738 2,723 Bear Stearns Structured Products, Inc. 05-20N, B 144A 6.877% due 10/25/45(b) (c) 5,000 4,023 Bear Stearns Structured Products, Inc. 06-2, 2A1 144A 7.865% due 3/27/46(b) (c) 2,021 1,910 Chase Mortgage Finance Corp. 04-S1, M 5.098% due 2/25/19(c) 1,974 1,898 Chase Mortgage Finance Corp. 04-S3, 3A1 6.000% due 3/25/34 3,975 4,010 Chase Mortgage Finance Corp. 06-A1, 4A1 6.044% due 9/25/36(c) 11,860 11,979 Citicorp Mortgage Securities, Inc. 06-7, 1A1 6.000% due 12/25/36 10,625 10,674 Citigroup Mortgage Loan Trust, Inc. 06-FX1, A4 6.081% due 10/25/36(c) 7,000 6,618 Citigroup Mortgage Loan Trust, Inc. 06-WF1, A2B 5.536% due 3/25/36(c) 2,000 1,999 7
N-Q69th “Page” of 101TOC1stPreviousNextBottomJust 69th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ Countrywide Home Loan Mortgage Pass-Through Trust 02-34, B2 5.750% due 1/25/33 $ 1,661 $ 1,565 Countrywide Home Loan Mortgage Pass-Through Trust 02-36, B2 6.000% due 1/25/33 1,661 1,578 Countrywide Home Loan Mortgage Pass-Through Trust 04-13, 1A1 5.500% due 8/25/34 5,677 5,701 Countrywide Home Loan Mortgage Pass-Through Trust 07-1, A2 6.000% due 3/25/37 14,647 14,750 Credit Suisse First Boston Mortgage Securities Corp. 01-CK1, A2 6.250% due 12/18/35 293 293 Credit Suisse First Boston Mortgage Securities Corp. 04-1, 1A1 5.750% due 2/25/34 1,556 1,529 Credit Suisse First Boston Mortgage Securities Corp. 05-12, 6A1 6.000% due 1/25/36 4,779 4,734 Credit Suisse First Boston Mortgage Securities Corp. 97-C2, B 6.720% due 1/17/35 644 644 Credit Suisse First Boston Mortgage Securities Corp. 98-C1, B 6.590% due 5/17/40 1,200 1,204 Credit-Based Asset Servicing and Securitization LLC 05-CB6, A3 5.120% due 7/25/35(c) 6,000 5,967 Crown Castle Towers LLC 05-1A, AFX 144A 4.643% due 6/15/35(b) 6,000 5,999 Crown Castle Towers LLC 06-1A, C 144A 5.470% due 11/15/36(b) 5,000 4,868 DLJ Commercial Mortgage Corp. 98-CF2, A1B 6.240% due 11/12/31 130 130 First Horizon Asset Securities, Inc. 03-2, 1A12 5.750% due 4/25/33 3,920 3,878 First Horizon Asset Securities, Inc. 05-AR1, 2A1 5.011% due 4/25/35(c) 3,493 3,516 First Plus Home Loan Trust 97-3, M2 7.520% due 11/10/23 40 39 First Union - Lehman Brothers - Bank of America 98-C2, A2 6.560% due 11/18/35 6,507 6,502 PAR VALUE VALUE (000) (000) ----------- ------------ Franchise Mortgage Acceptance Co. Loan Receivables Trust 98-CA, A2 144A 6.660% due 9/15/20(b) $ 5,528 $ 5,307 Global Signal Trust 06-1, A2 144A 5.450% due 2/15/36(b) 6,000 5,973 GMAC Mortgage Corp. Loan Trust 05-HE2, A3 4.622% due 11/25/35(c) 1,894 1,874 GMAC Mortgage Corp. Loan Trust 06-HE2, A3 6.320% due 5/25/36 11,335 11,068 Greenwich Structured Adjustable Rate Mortgage Products 05-4A, N1 144A 7.855% due 7/27/45(b) (c) 481 481 GS Mortgage Securities Corp. II 07-EOP, G 144A 5.642% due 3/6/20(b) (c) 5,840 5,504 GS Mortgage Securities Corp. II 07-EOP, H 144A 5.772% due 3/6/20(b) (c) 1,850 1,762 GS Mortgage Securities Corp. II 99-C1, A2 6.110% due 11/18/30(c) 122 122 GSR Mortgage Loan Trust 05-AR6, 3A1 4.560% due 9/25/35(c) 6,068 6,014 Harborview Mortgage Loan Trust 05-15, B8 7.288% due 10/20/45(c) 4,634 3,238 Harborview Mortgage Loan Trust 05-9, B10 7.288% due 6/20/35(c) 4,977 4,079 Harborview Net Interest Margin Corp. 06-12, N1 144A 6.409% due 12/19/36(b) 1,622 1,610 IndyMac Index Mortgage Loan Trust 06-AR25, 3A1 6.368% due 9/25/36(c) 4,948 4,956 Indymac Index Mortgage Loan Trust 07-AR2, B1 5.867% due 6/25/37(c) 4,738 4,075 JPMorgan Chase Commercial Mortgage Securities Corp. 01-CIBC, A3 6.260% due 3/15/33 484 502 JPMorgan Mortgage Trust 05-S3, 2A2 5.500% due 1/25/21 1,185 1,193 JPMorgan Mortgage Trust 06-A1, B1 5.398% due 2/25/36(c) 7,691 7,528 Lehman Brothers - UBS Commercial Mortgage Trust 07-C2, A2 5.303% due 2/15/40 1,477 1,481 Lehman Brothers - UBS Commercial Mortgage Trust 07-C6, A2 5.845% due 7/15/40 6,275 6,401 8
N-Q70th “Page” of 101TOC1stPreviousNextBottomJust 70th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ Lehman XS Net Interest Margin 06-GPM4, A1 144A 6.250% due 9/28/46(b) $ 417 $ 414 Lehman XS Net Interest Margin 06-GPM5, A1 144A 6.250% due 10/28/46(b) 1,352 1,341 Lehman XS Net Interest Margin 06-GPM7, A1 144A 6.250% due 12/28/46(b) 1,325 1,308 MASTR Alternative Net Interest Margin Trust 05-CW1A, N1 144A 6.750% due 12/26/35(b) (s) 679 577 MASTR Resecuritization Trust 04-2 144A 5.250% due 3/28/34(b) 3,759 3,399 MASTR Resecuritization Trust 04-3 144A 5.000% due 3/28/34(b) 2,043 1,828 MASTR Resecuritization Trust 05-1 144A 5.000% due 10/28/34(b) 2,007 1,900 MASTR Resecuritization Trust 05-2 144A 4.750% due 3/28/34(b) 1,971 1,824 MASTR Resecuritzation Trust 05-4CI, N2 144A 7.865% due 4/26/45(b) (c) (s) 3,250 1,593 Merril Lynch Mortgage Trust 04-KEY2, A3 4.615% due 8/12/39 4,000 3,962 Merrill Lynch/Countrywide Commercial Mortgage Investors, Inc. 06-3, 2A1 6.091% due 10/25/36(c) 6,672 6,761 Morgan Stanley Mortgage Loan Trust 05-5AR, 4A1 5.529% due 9/25/35(c) 2,337 2,359 PNC Mortgage Acceptance Corp. 00-C2, A2 7.300% due 10/12/33(c) 234 246 Prudential Securities Secured Financing Corp. 144A 6.074% due 11/1/31(b) 5,000 5,160 Residential Accredit Loans, Inc. 05-QA4, A5 5.450% due 4/25/35(c) 7,724 7,586 Residential Funding Mortgage Securities I, Inc. 05-SA1, 2A 4.856% due 3/25/35(c) 3,091 3,056 Residential Funding Mortgage Securities I, Inc. 06-S4, A2 6.000% due 4/25/36 8,303 8,390 SBA Commercial Mortgage Backed Securities Trust 06-1A, B 144A 5.451% due 11/15/36(b) 2,875 2,838 PAR VALUE VALUE (000) (000) ----------- ------------ Structured Asset Securities Corp. 03-32, 1A1 5.209% due 11/25/33(c) $ 4,582 $ 4,489 Structured Asset Securities Corp. 05-1, 6A1 6.000% due 2/25/35 4,474 4,432 Wachovia Bank Commercial Mortgage Trust 2004-C12, A2 5.001% due 7/15/41 9,200 9,262 Wachovia Mortgage Loan Trust LLC 06-A, B1 5.416% due 5/20/36(c) 3,443 3,276 Washington Mutual Mortgage Pass Through Certificates 00-1, M3 6.375% due 1/25/40(c) 85 85 Washington Mutual Mortgage Pass Through Certificates 06-AR16, 1A1 5.607% due 12/25/36(c) 7,028 7,005 Wells Fargo Mortgage Backed Securities Trust 04-R, 2A1 4.360% due 9/25/34(c) 5,246 5,230 Wells Fargo Mortgage Backed Securities Trust 05-14, 2A1 5.500% due 12/25/35 10,986 10,749 Wells Fargo Mortgage Backed Securities Trust 05-5, 1A1 5.000% due 5/25/20 7,137 7,032 Wells Fargo Mortgage Backed Securities Trust 05-AR10, 2A16 4.110% due 6/25/35(c) 7,542 7,316 Wells Fargo Mortgage Backed Securities Trust 05-AR16, 6A3 5.000% due 10/25/35(c) 8,117 8,093 Wells Fargo Mortgage Backed Securities Trust 06-11, A8 6.000% due 9/25/36 5,739 5,714 Wells Fargo Mortgage Backed Securities Trust 06-AR2, B1 5.123% due 3/25/36(c) 13,953 13,512 9
N-Q71st “Page” of 101TOC1stPreviousNextBottomJust 71st
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ Wells Fargo Mortgage Backed Securities Trust 07-AR3, A4 6.067% due 4/25/37(c) $ 15,658 $ 15,477 ---------------------------------------------------------------------------- TOTAL NON-AGENCY MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $394,747) 384,622 ---------------------------------------------------------------------------- FOREIGN GOVERNMENT SECURITIES--16.4% ARGENTINA--0.5% Republic of Argentina 5.389% due 8/3/12(c) 11,009 9,709 ---------- AUSTRALIA--1.2% Commonwealth of Australia Series 909 7.500% due 9/15/09 25,021(f) 22,198 ---------- BRAZIL--2.9% Federative Republic of Brazil 9.250% due 10/22/10 5,023 5,588 10.500% due 7/14/14 13,135 16,747 7.875% due 3/7/15 1,850 2,093 12.500% due 1/5/16 39,141(g) 23,935 12.500% due 1/5/22 8,000(g) 5,032 ---------- 53,395 ---------- CANADA--0.4% Commonwealth of Canada 3.750% due 6/1/08 7,716(h) 7,809 ---------- CHILE--0.4% Republic of Chile 5.410% due 1/28/08(c) 4,000 3,995 7.125% due 1/11/12 3,000 3,303 ---------- 7,298 ---------- COLOMBIA--0.4% Republic of Colombia 9.750% due 4/23/09 3,500 3,724 10.000% due 1/23/12 3,000 3,502 ---------- 7,226 ---------- COSTA RICA--0.2% Republic of Costa Rica 144A 9.000% due 3/1/11(b) 4,000 4,380 ---------- GERMANY--0.3% Federal Republic of Germany 144A 3.250% due 4/17/09(b) 4,020(i) 5,815 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ HUNGARY--0.2% Republic of Hungary 6.250% due 4/24/09 750,000(j) $ 4,261 ---------- INDONESIA--0.2% Republic of Indonesia 144A 7.250% due 4/20/15(b) $ 4,160 4,410 ---------- MEXICO--0.7% United Mexican States 8.375% due 1/14/11 5,050 5,588 6.625% due 3/3/15 5,815 6,302 ---------- 11,890 ---------- NEW ZEALAND--0.5% Commonwealth of New Zealand Series 708 6.000% due 7/15/08 12,294(k) 9,385 ---------- NORWAY--1.2% Kingdom of Norway 5.500% due 5/15/09 113,835(l) 21,185 ---------- PHILIPPINES--0.9% Republic of Philippines 8.375% due 3/12/09 8,610 8,954 8.375% due 2/15/11 6,135 6,626 ---------- 15,580 ---------- RUSSIA--0.0% Russian Federation RegS 8.250% due 3/31/10(e) 675 700 ---------- SINGAPORE--0.3% Singapore Government 2.500% due 10/1/12 6,800(n) 4,769 ---------- SWEDEN--0.2% Kingdom of Sweden Series 1043 5.000% due 1/28/09 26,705(o) 4,165 ---------- TRINIDAD AND TOBAGO--0.2% Republic of Trinidad and Tobago RegS 9.875% due 10/1/09(e) 3,000 3,278 ---------- TURKEY--2.0% Republic of Turkey 10.500% due 1/13/08 8,600 8,614 0.000% due 5/6/09 16,725(p) 11,604 11.750% due 6/15/10 7,570 8,791 10
N-Q72nd “Page” of 101TOC1stPreviousNextBottomJust 72nd
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ TURKEY--(CONTINUED) 11.500% due 1/23/12 $ 5,680 $ 6,901 ---------- 35,910 ---------- VENEZUELA--3.7% Republic of Venezuela 8.500% due 10/8/14 31,490 30,466 5.750% due 2/26/16 11,210 9,054 9.250% due 9/15/27 2,000 2,000 Republic of Venezuela RegS 5.375% due 8/7/10(e) 26,572 25,044 ---------- 66,564 ---------- ---------------------------------------------------------------------------- TOTAL FOREIGN GOVERNMENT SECURITIES (IDENTIFIED COST $292,750) 299,927 ---------------------------------------------------------------------------- FOREIGN CORPORATE BONDS(d)--8.3% BERMUDA--0.0% Intelsat Bermuda Ltd. 8.886% due 1/15/15(c) 250 252 ---------- BRAZIL--0.5% Merrill Lynch & Co., Inc. 10.710% due 3/8/17 8,200(g) 4,238 Morgan Stanley 144A 10.090% due 5/3/17(b) 10,525(g) 5,381 ---------- 9,619 ---------- CANADA--0.5% Catalyst Paper Corp. Series D 8.625% due 6/15/11 4,000 3,320 European Investment Bank 144A 4.600% due 1/30/37(b) 3,645(h) 3,615 Rogers Wireless Communications, Inc. 8.000% due 12/15/12 700 731 Thomson Corp. (The) 4.250% due 8/15/09 1,000 999 ---------- 8,665 ---------- CHILE--0.5% Celulosa Arauco y Constitucion SA 7.750% due 9/13/11 4,780 5,161 Empresa Nacional de Electricidad SA 7.750% due 7/15/08 3,449 3,488 ---------- 8,649 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ EGYPT--0.1% Orascom Telecom Finance SCA 144A 7.875% due 2/8/14(b) $ 1,400 $ 1,330 ---------- GERMANY--0.8% Aries Vermoegensverwaltung GmbH 144A 7.750% due 10/25/09(b) 1,500(i) 2,379 Aries Vermoegensverwaltung GmbH RegS 9.600% due 10/25/14(e) 5,000 6,445 Deutsche Bank AG NY Series GS 3.987% due 3/22/12(c) 5,000 4,995 Deutsche Telekom International Finance BV 8.000% due 6/15/10 1,000 1,068 ---------- 14,887 ---------- HONG KONG--0.1% Hutchison Whampoa International Ltd. 144A 5.450% due 11/24/10(b) 2,000 2,020 ---------- INDIA--0.3% ICICI Bank Ltd. 144A 5.750% due 11/16/10(b) 4,775 4,737 ---------- KAZAKHSTAN--0.0% Kazkommerts International BV RegS 8.000% due 11/3/15(e) 1,000 825 ---------- LUXEMBOURG--0.4% Evraz Securities SA 10.875% due 8/3/09 4,000 4,208 TNK-BP Finance SA 144A 7.500% due 3/13/13(b) 1,750 1,754 Tyco Electronic Group SA 144A 6.000% due 10/1/12(b) 1,515 1,553 ---------- 7,515 ---------- MALAYSIA--0.2% Malaysia International Shipping Corporation Capital Ltd. 144A 5.000% due 7/1/09(b) 2,800 2,810 ---------- MEXICO--0.5% Fideicomiso Petacalco Trust 144A 10.160% due 12/23/09(b) 3,620 3,747 Pemex Project Funding Master Trust 6.291% due 8/15/08 34 34 Pemex Project Funding Master Trust 144A 6.660% due 6/15/10(b) (c) 1,500 1,521 11
N-Q73rd “Page” of 101TOC1stPreviousNextBottomJust 73rd
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ MEXICO--(CONTINUED) Vitro S.A. de C.V. 8.625% due 2/1/12 $ 3,925 $ 3,709 ---------- 9,011 ---------- NETHERLANDS--0.4% Majapahit Holding BV 144A 7.250% due 6/28/17(b) 2,250 2,165 NXP BV/NXP Funding LLC 7.008% due 10/15/13(c) 5,040 4,656 ---------- 6,821 ---------- POLAND--0.1% Telekomunikacja Polska SA Finance BV 144A 7.750% due 12/10/08(b) 2,700 2,769 ---------- QATAR--0.1% Ras Laffan Liquefied Natural Gas Co. Ltd. 144A 3.437% due 9/15/09(b) 1,928 1,925 ---------- RUSSIA--1.9% European Bank for Reconstruction & Development 6.000% due 2/14/12 193,000(m) 7,613 Gazprom International SA 144A 7.201% due 2/1/20(b) 2,719 2,757 Gazprom OAO (Gaz Capital SA) 144A(b) 6.212% due 11/22/16 10,405 9,983 6.510% due 3/7/22 3,235 3,075 OJSC AK Transneft (TransCapitalInvest Ltd.) 144A 5.670% due 3/5/14(b) 5,715 5,476 Russian Agricultural Bank OJSC (RSHB Capital SA) 144A 6.299% due 5/15/17(b) 2,905 2,752 TNK-BP Finance SA RegS 6.125% due 3/20/12(e) 4,210 4,039 ---------- 35,695 ---------- SOUTH AFRICA--0.3% Sappi Pappier Holding AG 144A 6.750% due 6/15/12(b) 5,000 4,913 ---------- SOUTH KOREA--0.3% Export-Import Bank of Korea 4.500% due 8/12/09 1,355 1,341 Hynix Semiconductor, Inc. 144A 7.875% due 6/27/17(b) 400 363 PAR VALUE VALUE (000) (000) ----------- ------------ SOUTH KOREA--(CONTINUED) Korea Development Bank 3.875% due 3/2/09 $ 3,000 $ 2,953 ---------- 4,657 ---------- SWITZERLAND--0.1% Petroplus Finance Ltd. 144A 6.750% due 5/1/14(b) 2,715 2,542 ---------- TURKEY--0.1% Bosphorus Financial Services Ltd. 144A 6.669% due 2/15/12(b) (c) 2,000 1,980 ---------- UKRAINE--0.1% NAK Naftogaz Ukrainy (Standard Bank London Holdings plc) 8.125% due 9/30/09 2,900 2,755 ---------- UNITED ARAB EMIRATES--0.4% Abu Dhabi National Energy Co. 144A 5.620% due 10/25/12(b) 6,730 6,831 ---------- UNITED KINGDOM--0.1% British Telecommunications plc 8.625% due 12/15/10 1,500 1,646 ---------- UNITED STATES--0.4% Invesco plc 4.500% due 12/15/09 2,750 2,714 Nova Chemicals Corp. 7.863% due 11/15/13(c) 5,409 5,084 ---------- 7,798 ---------- VENEZUELA--0.1% Corporacion Andina de Fomento 5.200% due 5/21/13 1,000 999 ---------- ---------------------------------------------------------------------------- TOTAL FOREIGN CORPORATE BONDS (IDENTIFIED COST $154,025) 151,651 ---------------------------------------------------------------------------- DOMESTIC CONVERTIBLE BONDS--0.1% PHARMACEUTICALS--0.1% Par Pharmaceutical Cos., Inc. 2.875% due 9/30/10 1,195 1,106 ---------- 12
N-Q74th “Page” of 101TOC1stPreviousNextBottomJust 74th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ ---------------------------------------------------------------------------- TOTAL DOMESTIC CONVERTIBLE BONDS (IDENTIFIED COST $1,053) 1,106 ---------------------------------------------------------------------------- FOREIGN CREDIT LINKED NOTES--0.2% INDONESIA--0.2% Republic of Indonesia (Citigroup, Inc.) 11.867% due 6/15/09 $ 4,025 $ 3,553 ---------- ---------------------------------------------------------------------------- TOTAL FOREIGN CREDIT LINKED NOTES (IDENTIFIED COST $3,709) 3,553 ---------------------------------------------------------------------------- DOMESTIC LOAN AGREEMENTS--8.1% ADVERTISING--0.1% Lamar Media Corp. Tranche F 6.281% due 3/31/14(c) 925 923 ---------- ALTERNATIVE CARRIERS--0.3% Level 3 Communications, Inc. Tranche B 7.493% due 3/13/14(c) 667 641 Time Warner Telecom Holdings Tranche B 8.471% due 1/7/13(c) 4,835 4,672 ---------- 5,313 ---------- APPAREL RETAIL--0.2% Hanesbrands, Inc. Tranche B 6.658% due 9/5/13(c) 1,478 1,439 HBI Branded Apparel Ltd., Inc. Tranche 2 9.110% due 3/5/14(c) 1,885 1,887 Totes Isotoner Corp. Tranche B 7.733% due 1/16/13(c) 474 456 ---------- 3,782 ---------- APPLICATION SOFTWARE--0.1% Reynolds & Reynolds Co. (The) Tranche 7.198% due 10/24/12(c) 2,806 2,701 ---------- ASSET MANAGEMENT & CUSTODY BANKS--0.0% Nuveen Investments, Inc. Tranche B 7.841% due 11/13/14(c) 803 792 ---------- AUTOMOBILE MANUFACTURERS--0.4% Ford Motor Co. Tranche B 8.700% due 12/15/13(c) 4,369 4,052 General Motors Corp. Tranche B 7.615% due 11/29/13(c) 2,779 2,616 ---------- 6,668 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ AUTOMOTIVE RETAIL--0.1% Hertz Corp. Letter of Credit 5.350% due 12/21/12(c) $ 285 $ 278 Hertz Corp. Tranche B 7.070% due 12/21/12(c) 1,363 1,333 ---------- 1,611 ---------- BROADCASTING & CABLE TV--0.7% Charter Communications Operating LLC Tranche 7.360% due 3/6/14(c) 4,941 4,626 DIRECTV Holdings LLC Tranche B 6.820% due 4/13/13(c) 558 553 Intelsat Corp. Tranche B2 7.360% due 1/3/14(c) 2,925 2,889 Mediacom LLC Tranche C 7.100% due 1/31/15(c) 4,403 4,089 ---------- 12,157 ---------- CASINOS & GAMING--0.0% Wimar Operating Co. LLC Tranche B 7.448% due 1/3/12(c) 450 441 ---------- DATA PROCESSING & OUTSOURCED SERVICES--0.4% First Data Corp. Tranche B2 8.040% due 9/24/14(c) 500 476 First Data Corp. Tranche B3 7.710% due 9/24/14(c) 6,210 5,915 ---------- 6,391 ---------- DEPARTMENT STORES--0.3% Neiman-Marcus Group, Inc. (The) Tranche 7.090% due 4/6/13(c) 5,468 5,263 ---------- DISTRIBUTORS--0.2% Building Materials Holding Corp. Tranche B 7.850% due 11/10/13(c) 3,960 3,406 ---------- DIVERSIFIED CHEMICALS--0.5% Celanese Holdings LLC Tranche B 8.181% due 3/30/14(c) 4,835 4,630 Huntsman Corp. Tranche B 6.643% due 8/16/12(c) 2,489 2,446 Ineos Group Holdings plc Tranche B2 7.190% due 12/16/13(c) 1,442 1,451 Ineos Group Holdings plc Tranche C2 7.690% due 12/16/14(c) 1,441 1,450 ---------- 9,977 ---------- 13
N-Q75th “Page” of 101TOC1stPreviousNextBottomJust 75th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ DIVERSIFIED COMMERCIAL & PROFESSIONAL SERVICES--0.1% ARAMARK Corp. Letter of Credit 7.445% due 1/26/14(c) $ 85 $ 80 ARAMARK Corp. Tranche B 7.198% due 1/26/14(c) 1,184 1,125 ---------- 1,205 ---------- DIVERSIFIED METALS & MINING--0.0% Compass Minerals Group, Inc. Tranche B 6.653% due 12/22/12(c) 472 462 ---------- ELECTRIC UTILITIES--0.1% Energy Future Holdings Tranche B2 8.645% due 10/10/14(c) 2,302 2,262 ---------- ELECTRICAL COMPONENTS & EQUIPMENT--0.1% Baldor Electric Co. Tranche 6.859% due 1/31/14(c) 2,657 2,617 ---------- ENVIRONMENTAL & FACILITIES SERVICES--0.3% Allied Waste North America, Inc. Letter of Credit A 7.070% due 3/28/14(c) 1,359 1,305 Allied Waste North America, Inc. Tranche B 7.170% due 3/28/14(c) 2,527 2,426 Duratek, Inc. Tranche B 7.630% due 6/30/16(c) 426 414 EnergySolutions Inc. Tranche B 7.630% due 6/7/13(c) 888 862 EnviroCare Tranche C 7.570% due 6/30/16(c) 45 44 ---------- 5,051 ---------- FERTILIZERS & AGRICULTURAL CHEMICALS--0.0% Mosaic Co. (The) Tranche B 6.625% due 12/1/13(c) 629 629 ---------- HEALTH CARE FACILITIES--0.3% HCA, Inc. Tranche B 7.448% due 11/16/13(c) 1,325 1,281 Health Management Associates, Inc. Tranche B 7.110% due 2/28/14(c) 1,247 1,164 LifePoint Hospitals, Inc. Tranche B 6.945% due 4/15/12(c) 2,700 2,589 ---------- 5,034 ---------- HEALTH CARE SERVICES--0.2% Davita Inc. Tranche B1 6.778% due 10/5/12(c) 3,557 3,432 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ HOUSEWARES & SPECIALTIES--0.1% Yankee Candle Co., Inc. Tranche B 7.200% due 2/6/14(c) $ 2,313 $ 2,175 ---------- INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.4% Mirant North America LLC Tranche B 6.503% due 1/3/13(c) 1,014 976 NRG Energy, Inc. Letter of Credit L 6.848% due 2/1/13(c) 1,234 1,232 NRG Energy, Inc. Tranche B1 6.948% due 2/1/13(c) 5,267 5,017 ---------- 7,225 ---------- INTEGRATED TELECOMMUNICATION SERVICES--0.3% NTELOS, Inc. Tranche B1 7.488% due 8/24/11(c) 5,230 5,191 ---------- LEISURE FACILITIES--0.1% AMF Bowling Worldwide, Inc. Tranche B 8.170% due 5/17/13(c) 2,014 1,903 ---------- OIL & GAS DRILLING--0.1% Hercules Offshore, Inc. Tranche 6.990% due 7/11/13(c) 1,863 1,812 ---------- OIL & GAS EQUIPMENT & SERVICES--0.3% Helix Energy Solutions Group, Inc. Tranche 6.847% due 7/1/13(c) 6,587 6,348 ---------- PAPER PRODUCTS--0.6% Georgia-Pacific Corp. Tranche A 7.110% due 12/20/10(c) 1,575 1,532 Georgia-Pacific Corp. Tranche B1 7.110% due 12/20/12(c) 4,691 4,483 NewPage Corp. Tranche B(c) 7.218% due 5/2/11 3,752 3,752 9.891% due 12/21/14 687 666 ---------- 10,433 ---------- PUBLISHING--0.3% Idearc, Inc. Tranche B 7.200% due 11/17/14(c) 3,375 3,222 Tribune Co. Tranche B 8.375% due 6/4/14(c) 2,354 2,007 ---------- 5,229 ---------- 14
N-Q76th “Page” of 101TOC1stPreviousNextBottomJust 76th
Phoenix Multi-Sector Short Term Bond Fund PAR VALUE VALUE (000) (000) ----------- ------------ RESTAURANTS--0.2% Burger King Corp. Tranche B1 6.875% due 6/30/12(c) $ 4,627 $ 4,558 ---------- SEMICONDUCTORS--0.1% Freescale Semiconductor, Inc. Tranche 7.244% due 12/1/13(c) 2,814 2,617 ---------- SPECIALIZED FINANCE--0.4% Solar Capital Corp. Tranche 6.898% due 2/28/14(c) 7,462 7,219 ---------- SPECIALTY CHEMICALS--0.1% JohnsonDiversey, Inc. Tranche B 6.878% due 12/16/11(c) 1,059 1,039 ---------- TRADING COMPANIES & DISTRIBUTORS--0.1% United Rentals, Inc. Letter of Credit 7.130% due 2/14/11 280 273 United Rentals, Inc. Tranche B 7.320% due 2/14/11(c) 665 649 ---------- 922 ---------- WIRELESS TELECOMMUNICATION SERVICES--0.6% ALLTEL Communications, Inc. Tranche B3 9.029% due 5/15/15(c) 4,860 4,672 Cricket Communications, Inc. Tranche B1 7.448% due 6/16/13(c) 3,555 3,513 MetroPCS Wireless, Inc. Tranche B 7.750% due 11/3/13(c) 3,807 3,649 ---------- 11,834 ---------- ---------------------------------------------------------------------------- TOTAL DOMESTIC LOAN AGREEMENTS (IDENTIFIED COST $153,008) 148,622 ---------------------------------------------------------------------------- FOREIGN LOAN AGREEMENTS(c)(d)--0.4% GERMANY--0.2% Fresenius Medical Care AG & Co. KGaA Tranche B 6.700% due 3/31/13 3,652 3,552 ---------- UNITED KINGDOM--0.1% Yell Group plc Tranche B1 6.753% due 10/27/12 1,925 1,853 ---------- UNITED STATES--0.1% Bausch & Lomb, Inc. Tranche 8.127% due 10/26/15 1,393(i) 2,027 ---------- ---------------------------------------------------------------------------- TOTAL FOREIGN LOAN AGREEMENTS (IDENTIFIED COST $7,533) 7,432 ---------------------------------------------------------------------------- VALUE SHARES (000) ----------- ------------ DOMESTIC COMMON STOCKS--0.0% INDEPENDENT POWER PRODUCERS & ENERGY TRADERS--0.0% Dynegy, Inc. Class A(u) 131 $ 1 ---------- ---------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $1) 1 ---------------------------------------------------------------------------- EXCHANGE TRADED FUNDS--0.8% DIAMONDS(R) Trust Series I 57,916 7,677 iShares MSCI EAFE(R) Index Fund 37,435 2,940 iShares Russell 2000(R) Index Fund 29,621 2,253 PowerShares QQQ 42,650 2,185 ---------------------------------------------------------------------------- TOTAL EXCHANGE TRADED FUNDS (IDENTIFIED COST $15,325) 15,055 ---------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--98.4% (IDENTIFIED COST $1,829,588) 1,797,014 ---------- PAR VALUE VALUE (000) (000) ----------- ------------ SHORT-TERM INVESTMENTS--1.7% COMMERCIAL PAPER(q)--1.7% AT&T, Inc. 4.100% due 1/2/08 $ 11,280 11,279 Govco, Inc. 3.900% due 1/2/08 10,000 9,999 Northern Illinois Gas Co. 4.000% due 1/2/08 10,000 9,999 Bank of America Corp. 4.810% due 2/22/08 340 337 ---------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $31,614) 31,614 ---------------------------------------------------------------------------- TOTAL INVESTMENTS--100.1% (IDENTIFIED COST $1,861,202) 1,828,628(a) Other assets and liabilities, net--(0.1)% (1,414) ---------- NET ASSETS--100.0% $1,827,214 ========== 15
N-Q77th “Page” of 101TOC1stPreviousNextBottomJust 77th
Phoenix Multi-Sector Short Term Bond Fund At December 31, 2007, the Fund had entered into forward currency contracts as follows (reported in 000's): Net Unrealized Contract to Settlement Appreciation Receive In Exchange for Date Value (Depreciation) ------------------------------------------------------------------------------ JPY 1,919,130 USD 18,003 2/29/08 $ 17,290 $ (713) ---------- USD United States Dollar JPY Japanese Yen (a) Federal Income Tax Information (reported in 000's): Net unrealized depreciation of investment securities is comprised of gross appreciation of $8,932 and gross depreciation of $44,650 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $1,864,346. (b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $242,216 (reported in 000's) or 13.3% of net assets. (c) Variable or step coupon security; interest rate shown reflects the rate currently in effect. (d) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, or parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (e) Regulation S security. Security is offered and sold outside of the United States, therefore, it is exempt from registration with the SEC under rules 903 and 904 of the Securities Act of 1933. (f) Par value represents Australian Dollar. (g) Par value represents Brazilian Real. (h) Par value represents Canadian Dollar. (i) Par value represents Euro. (j) Par value represents Hungarian Forint. (k) Par value represents New Zealand Dollar. (l) Par value represents Norwegian Krone. (m) Par value represents Russian Ruble. (n) Par value represents Singapore Dollar. (o) Par value represents Swedish Krona. (p) Par value represents Turkish Lira. (q) The rate shown is the discount rate. (r) All or a portion segregated as collateral for forward currency contracts. (s) Illiquid and restricted security. Security valued at fair value as determined in good faith by or under the direction of the Trustees. At December 31, 2007, these securities amounted to a value of $2,395 (reported in 000's) or 0.1% of net assets. For acquisition information, see Note 2 "Illiquid and Restricted Securities" in the Notes to Schedules of Investments. (t) Illiquid security. (u) Non-income producing. 16
N-Q78th “Page” of 101TOC1stPreviousNextBottomJust 78th
Phoenix Foreign Opportunities Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) ------------- ------------ FOREIGN COMMON STOCKS(c)--94.5% AUSTRALIA--3.7% Aristocrat Leisure Ltd. (Casinos & Gaming)(f) 1,322,315 $ 12,956 BHP Billiton Ltd. (Diversified Metals & Mining)(f) 559,200 19,548 Rio Tinto Ltd. (Diversified Metals & Mining) 780 91 Woolworths Ltd. (Food Retail) 1 --(e) WorleyParsons Ltd. (Oil & Gas Equipment & Services)(f) 374,721 16,881 ---------- 49,476 ---------- BELGIUM--2.8% InBev N.V. (Brewers) 455,845 37,895 BRAZIL--3.7% Companhia Vale do Rio Doce ADR (Diversified Metals & Mining) 341,300 11,150 Petroleo Brasileiro SA ADR (Integrated Oil & Gas) 328,361 37,841 ---------- 48,991 ---------- CANADA--2.6% Canadian Natural Resources Ltd. (Oil & Gas Exploration & Production) 470,320 34,587 CHINA--0.8% Soho China Ltd. (Real Estate Management & Development)(b) 10,872,500 10,709 DENMARK--1.0% Novo Nordisk A/S Class B (Pharmaceuticals) 205,900 13,441 FINLAND--1.2% Nokia Oyj (Communications Equipment) 427,700 16,431 FRANCE--2.2% Air Liquide (Industrial Gases)(f) 89,500 13,315 Bureau Veritas SA (Diversified Commercial & Professional Services)(b) 263,700 15,615 ---------- 28,930 ---------- GERMANY--7.2% Deutsche Boerse AG (Specialized Finance)(f) 304,400 60,078 Siemens AG Registered Shares (Industrial Conglomerates)(f) 180,000 28,620 Wacker Chemie AG (Specialty Chemicals) 28,100 8,106 ---------- 96,804 ---------- VALUE SHARES (000) ------------- ------------ HONG KONG--4.0% China Mobile Ltd. (Wireless Telecommunication Services) 526,600 $ 9,171 China Mobile Sponsored ADR Ltd. (Wireless Telecommunication Services)(f) 88,700 7,705 CNOOC Ltd. (Oil & Gas Exploration & Production) 10,476,000 17,593 Jardine Matheson Holdings Ltd. (Multi-Sector Holdings)(f) 670,284 18,567 ---------- 53,036 ---------- INDIA--11.1% Bharti Airtel Ltd. (Integrated Telecommunication Services)(b) 1,730,711 43,290 DLF Ltd. (Real Estate Management & Development) 359,000 9,691 HDFC Bank Ltd. (Diversified Banks) 405,985 17,542 HDFC Bank Ltd. ADR (Diversified Banks)(f) 304,902 39,774 Housing Development Finance Corp. (Consumer Finance) 371,990 26,863 India Infoline Ltd. (Investment Banking & Brokerage) 56,429 2,716 United Spirits Ltd. (Brewers) 162,800 8,157 ---------- 148,033 ---------- IRELAND--0.0% Anglo Irish Bank Corp. plc (Diversified Banks) 2 --(e) ITALY--0.9% Maire Tecnimont S.p.A. (Construction & Engineering)(b) 2,448,400 12,779 JAPAN--5.7% Japan Tobacco, Inc. (Tobacco) 4,442 26,264 Millea Holdings, Inc. (Property & Casualty Insurance) 979,900 32,898 Secom Co., Ltd. (Diversified Commercial & Professional Services) 324,200 17,699 ---------- 76,861 ---------- MEXICO--2.1% America Movil S.A. de C.V. ADR Series L (Wireless Telecommunication Services) 250,753 15,394 America Movil S.A. de C.V. Series L (Wireless Telecommunication Services)(f) 623,700 1,914 1
N-Q79th “Page” of 101TOC1stPreviousNextBottomJust 79th
Phoenix Foreign Opportunities Fund VALUE SHARES (000) ------------- ------------ MEXICO--(CONTINUED) Urbi Desarrollos Urbanos S.A. de C.V. (Homebuilding)(b) 2,677,200 $ 9,248 Wal-Mart de Mexico S.A. de C.V. (General Merchandise Stores)(f) 525,600 1,832 ---------- 28,388 ---------- NETHERLANDS--4.7% Schlumberger Ltd. (Oil & Gas Equipment & Services)(h) 20,000 1,942 Schlumberger Ltd. (Oil & Gas Equipment & Services)(i) 442,300 43,509 Unilever N.V. - CVA (Packaged Foods & Meats) 474,100 17,419 ---------- 62,870 ---------- NORWAY--2.9% Orkla ASA (Industrial Conglomerates) 2,022,575 38,726 SINGAPORE--1.2% Keppel Corp. Ltd. (Industrial Conglomerates) 1,786,500 15,919 SPAIN--2.3% Enagas S.A. (Gas Utilities)(f) 1,040,101 30,378 SWITZERLAND--15.7% ABB Ltd. Registered Shares (Heavy Electrical Equipment) 871,700 25,133 Compagnie Financiere Richemont AG Class A (Apparel, Accessories & Luxury Goods) 279,600 19,103 EFG International (Asset Management & Custody Banks) 88,779 3,577 Kuehne & Nagel International AG (Marine) 261,686 25,127 Lindt & Spruengli AG (Packaged Foods & Meats) 2,912 10,034 Meyer Burger Technology AG (Industrial Machinery)(b) 18,707 6,887 Nestle S.A. Registered Shares (Packaged Foods & Meats) 92,098 42,291 Novartis AG Registered Shares (Pharmaceuticals) 396,600 21,689 Roche Holding AG Registered Shares (Pharmaceuticals) 195,204 33,744 Sika AG (Specialty Chemicals) 6,490 12,177 Sulzer AG (Industrial Machinery) 7,200 10,588 ---------- 210,350 ---------- UNITED KINGDOM--16.5% British American Tobacco plc (Tobacco) 1,812,826 70,869 Diageo plc (Distillers & Vintners) 817,364 17,091 Imperial Tobacco Group plc (Tobacco) 658,672 35,626 VALUE SHARES (000) ------------- ------------ UNITED KINGDOM--(CONTINUED) Reckitt Benckiser Group plc (Household Products) 457,701 $ 26,597 SABMiller plc (Brewers) 950,345 26,672 Tesco plc (Food Retail) 4,687,887 44,312 ---------- 221,167 ---------- UNITED STATES--2.2% Core Laboratories N.V. (Oil & Gas Equipment & Services)(b)(f) 231,700 28,898 ---------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $1,049,367) 1,264,669 ---------------------------------------------------------------------------- FOREIGN WARRANTS--0.6% TAIWAN--0.6% Citigroup Global Markets Holdings, Inc. - High Tech Computer Corp. Strike price 0.00001 Taiwan Dollars expiration 1/20/10 (Computer Hardware) 431,000 7,961 ---------------------------------------------------------------------------- TOTAL FOREIGN WARRANTS (IDENTIFIED COST $7,925) 7,961 ---------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--95.1% (IDENTIFIED COST $1,057,292) 1,272,630 SHORT-TERM INVESTMENTS--11.2% MONEY MARKET MUTUAL FUNDS--6.4% State Street Navigator Prime Plus (4.201% seven-day effective yield)(g) 85,235,925 85,236 PAR VALUE VALUE (000) (000) ------------ ------------ FEDERAL AGENCY SECURITIES(d)--4.8% FFCB 3.700% due 1/2/08 $11,270 11,269 FHLB 3.150% due 1/2/08 20,000 19,998 FHLMC 4.000% due 1/3/08 17,980 17,976 2
N-Q80th “Page” of 101TOC1stPreviousNextBottomJust 80th
Phoenix Foreign Opportunities Fund PAR VALUE VALUE (000) (000) ------------ ------------ FEDERAL AGENCY SECURITIES--(CONTINUED) FHLB 3.500% due 1/7/08 $15,945 $ 15,936 ---------- 65,179 ---------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $150,415) 150,415 ---------------------------------------------------------------------------- TOTAL INVESTMENTS--106.3% (IDENTIFIED COST $1,207,707) 1,423,045(a) Other assets and liabilities, net--(6.3)% (83,990) ---------- NET ASSETS--100.0% $1,339,055 ========== At December 31, 2007, the Fund had entered into forward currency contracts as follows (reported in 000's): Net Unrealized Contract to Settlement Appreciation Sell In Exchange for Date Value (Depreciation) ------------------------------------------------------------------------------ AUD 38,350 USD 33,137 6/13/08 $ (33,264) $ (127) EUR 84,595 USD 124,004 6/13/08 $ (123,724) $ 279 EUR 19,550 USD 28,553 6/13/08 $ (28,593) $ (40) CHF 132,360 USD 116,988 6/13/08 $ (117,873) $ (885) GBP 15,840 USD 32,078 6/13/08 $ (31,374) $ 704 GBP 55,110 USD 111,419 6/13/08 $ (109,155) $ 2,264 ----------- $ 2,195 =========== USD United States Dollar AUD Australian Dollar EUR Euro CHF Swiss Franc GBP UK Pound (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $227,788 and gross depreciation of $15,290 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $1,210,547. (b) Non-income producing. (c) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (d) The rate shown is the discount rate. (e) Amount is less than $1,000. (f) All or a portion of security is on loan. (g) Represents security purchased with cash collateral received for securities on loan. (h) Shares traded on Alt-X Exchange. (i) Shares traded on NYSE. 3
N-Q81st “Page” of 101TOC1stPreviousNextBottomJust 81st
Phoenix International Strategies Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) SHARES VALUE ---------- --------- FOREIGN COMMON STOCKS(c)--98.5% AUSTRALIA--8.5% Admiralty Resources NL (Gold)(b) 26,154 $ 10 Ausenco Ltd. (Construction & Engineering) 1,620 21 AXA Asia Pacific Holdings Ltd. (Life & Health Insurance) 69,764 449 BHP Billiton Ltd. (Diversified Metals & Mining) 42,094 1,472 BlueScope Steel Ltd. (Steel) 3,450 29 Bradken Ltd. (Construction & Farm Machinery & Heavy Trucks) 3,751 26 Caltex Australia Ltd. (Oil & Gas Refining & Marketing) 3,279 55 Commonwealth Bank of Australia (Diversified Banks) 5,174 267 Leighton Holdings Ltd. (Construction & Engineering) 15,144 801 McPherson's Ltd. (Personal Products) 10,878 30 Orica Ltd. (Diversified Chemicals) 19,820 548 Qantas Airways Ltd. (Airlines) 274,065 1,302 QBE Insurance Group Ltd. (Property & Casualty Insurance) 19,500 566 Rio Tinto Ltd. (Diversified Metals & Mining) 10,259 1,193 Santos Ltd. (Oil & Gas Exploration & Production) 58,111 714 Westpac Banking Corp. (Diversified Banks) 20,092 489 Woodside Petroleum Ltd. (Oil & Gas Exploration & Production) 8,254 362 ------- 8,334 ------- AUSTRIA--0.3% Voestalpine AG (Steel) 3,919 281 BELGIUM--2.2% Belgacom SA (Integrated Telecommunication Services) 5,000 246 Delhaize Group (Food Retail) 10,552 926 Dexia SA (Diversified Banks) 37,588 944 ------- 2,116 ------- CANADA--0.6% Canadian Imperial Bank of Commerce (Diversified Banks) 2,000 143 CGI Group, Inc. Class A (IT Consulting & Other Services)(b) 4,700 55 SHARES VALUE ---------- --------- CANADA--(CONTINUED) Churchill Corp. (The) Class A (Construction & Engineering)(b) 600 $ 13 Hammond Power Solutions, Inc. (Electrical Components & Equipment)(b) 2,200 36 Jean Coutu Group, Inc. (The) Class A (Drug Retail) 6,600 75 Magna International, Inc. Class A (Auto Parts & Equipment) 1,000 80 Petro-Canada (Integrated Oil & Gas) 1,700 91 Sherritt International Corp. (Diversified Metals & Mining) 7,500 101 ------- 594 ------- CHINA--0.4% C&G Industrial Holdings Ltd. (Commodity Chemicals) 58,500 19 Esprit Holdings Ltd. (Apparel Retail) 17,500 258 Kazakhmys plc (Diversified Metals & Mining) 4,773 129 Truly International Holdings Ltd. (Electronic Equipment Manufacturers) 10,000 23 ------- 429 ------- DENMARK--0.8% D/S Norden (Marine) 6,780 753 FINLAND--1.2% Fortum Oyj (Electric Utilities) 10,600 476 Nokia Oyj (Communications Equipment) 19,422 746 ------- 1,222 ------- FRANCE--9.9% Alstom SA (Heavy Electrical Equipment) 2,151 462 BNP Paribas SA (Diversified Banks) 10,839 1,176 Bouygues SA (Wireless Telecommunication Services) 3,600 299 Cap Gemini SA (IT Consulting & Other Services) 7,624 479 Carrefour SA (Hypermarkets & Super Centers) 5,757 448 Compagnie Generale des Etablissements Michelin Class B (Tires & Rubber) 5,156 589 Credit Agricole SA (Diversified Banks) 1,652 56 France Telecom SA (Integrated Telecommunication Services) 7,693 276 LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) 4,174 504 Nexans SA (Electrical Components & Equipment) 751 94 1
N-Q82nd “Page” of 101TOC1stPreviousNextBottomJust 82nd
Phoenix International Strategies Fund SHARES VALUE ---------- --------- FRANCE--(CONTINUED) PPR (Department Stores) 3,448 $ 554 Publicis Groupe (Advertising) 11,738 459 Rallye SA (Specialty Stores) 919 65 Recylex SA (Diversified Metals & Mining)(b) 2,607 59 Sanofi-Aventis SA (Pharmaceuticals) 5,800 531 Societe Generale (Diversified Banks) 9,196 1,330 Technip SA (Oil & Gas Equipment & Services) 6,075 483 Total SA (Integrated Oil & Gas) 10,900 903 Ubi Soft Entertainment (Home Entertainment Software)(b) 934 95 Vallourec SA (Industrial Machinery) 1,200 325 Vivendi Universal SA (Movies & Entertainment) 10,683 491 ------- 9,678 ------- GERMANY--10.7% Allianz AG Registered Shares (Multi-line Insurance) 2,800 603 Arcandor AG (Department Stores)(b) 11,100 265 DaimlerChrysler AG (Automobile Manufacturers) 5,500 533 Deutsche Bank AG Registered Shares (Diversified Capital Markets) 3,700 483 Deutsche Lufthansa AG Registered Shares (Airlines) 36,239 966 Deutsche Telekom AG Registered Shares (Integrated Telecommunication Services) 11,543 254 E.ON AG (Electric Utilities) 8,752 1,861 GEA Group AG (Industrial Machinery)(b) 9,217 321 MAN AG (Industrial Machinery) 9,292 1,542 MTU Aero Engines Holding AG (Aerospace & Defense) 1,138 67 Muenchener Rueckversicherungs-Gesellschaft AG Registered Shares (Reinsurance) 3,704 719 Salzgitter AG (Steel) 5,479 819 Siemens AG Registered Shares (Industrial Conglomerates) 3,600 572 Symrise AG (Fertilizers & Agricultural Chemicals)(b) 7,828 221 ThyssenKrupp AG (Steel) 17,313 975 United Internet AG Registered Shares (Internet Software & Services) 4,498 110 Volkswagen AG (Automobile Manufacturers) 267 61 Wincor Nixdorf AG (Computer Hardware) 832 79 ------- 10,451 ------- GREECE--0.6% Alpha Bank AE (Diversified Banks) 15,400 558 SHARES VALUE ---------- --------- HONG KONG--5.0% Bank of East Asia Ltd. (Diversified Banks) 57,000 $ 386 Cheung Kong Holdings Ltd. (Real Estate Management & Development) 28,000 512 China Mobile Ltd. (Wireless Telecommunication Services) 28,000 488 Chun Wo Development Holdings Ltd. (Construction & Engineering) 94,000 17 Enerchina Holdings Ltd. (Multi-Sector Holdings)(b) 169,000 8 Guangdong Investments Ltd. (Industrial Conglomerates) 303,000 170 Hang Lung Properties Ltd. (Real Estate Management & Development) 143,000 639 Hong Kong Exchanges & Clearing Ltd. (Specialized Finance) 55,000 1,542 Sinolink Worldwide Holdings Ltd. (Real Estate Management & Development) 260,000 57 Sun Hung Kai Properties Ltd. (Real Estate Management & Development) 25,000 525 Television Broadcasts Ltd. (Broadcasting & Cable TV) 57,000 341 VTech Holdings Ltd. (Communications Equipment) 29,998 213 ------- 4,898 ------- IRELAND--0.2% Experian Group Ltd. (Diversified Commercial & Professional Services) 30,270 239 ISRAEL--0.1% Partner Communications Co., Ltd. ADR (Wireless Telecommunication Services) 5,300 117 ITALY--1.5% Banca Popolare dell'Emilia Romagna Scrl (Regional Banks) 2,095 49 ENI S.p.A. (Integrated Oil & Gas) 15,200 555 Fiat S.p.A. (Automobile Manufacturers) 14,327 369 Indesit Co. S.p.A. (Household Appliances) 3,705 57 UniCredito Italiano S.p.A. (Diversified Banks) 51,700 425 ------- 1,455 ------- JAPAN--17.3% Asahi Kasei Corp. (Commodity Chemicals) 20,000 132 Asahi Pretec Corp. (Environmental & Facilities Services) 700 19 Aucnet, Inc. (Education Services) 1,000 17 Bank of Yokohama Ltd. (The) (Regional Banks) 31,000 216 Brother Industries Ltd. (Office Electronics) 19,000 245 2
N-Q83rd “Page” of 101TOC1stPreviousNextBottomJust 83rd
Phoenix International Strategies Fund SHARES VALUE ---------- --------- JAPAN--(CONTINUED) Chiba Bank Ltd. (The) (Regional Banks) 3,000 $ 24 Chugoku Bank Ltd. (The) (Regional Banks) 2,000 28 Chuo Denki Kogyo Co. Ltd. (Diversified Metals & Mining) 3,000 27 Cosmos Initia Co., Ltd. (Real Estate Management & Development) 2,000 6 Create SD Co., Ltd. (Drug Retail) 1,500 34 Dena Co., Ltd. (Internet Retail) 16 76 East Japan Railway Co. (Railroads) 46 378 FamilyMart Co. Ltd. (Food Retail) 1,400 44 FANUC Ltd. (Industrial Machinery) 5,400 523 Fuji Machine Manufacturing Co. Ltd. (Industrial Machinery) 400 9 FUJIFILM Holdings Corp. (Electronic Equipment Manufacturers) 6,100 255 Fujitsu Ltd. (Computer Hardware) 41,000 274 Geo Corp. (Computer & Electronics Retail) 23 41 Hitachi Construction Machinery Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 14,900 442 Hitachi Ltd. (Electronic Equipment Manufacturers) 49,000 364 Hudson Soft Co. Ltd. (Leisure Products)(b) 900 15 Hyakujushi Bank Ltd. (The) (Regional Banks) 2,000 10 Inpex Holdings, Inc. (Oil & Gas Exploration & Production) 42 456 Isetan Co., Ltd. (Department Stores) 27,200 366 Iyo Bank Ltd. (The) (Regional Banks) 9,000 88 JFE Shoji Holdings, Inc. (Trading Companies & Distributors) 9,000 57 Juki Corp. (Household Appliances) 8,000 48 Kao Corp. (Household Products) 14,000 421 Komatsu Ltd. (Construction & Farm Machinery & Heavy Trucks) 15,600 418 Kosaido Co., Ltd. (Commercial Printing) 2,000 13 Kyoei Steel Ltd. (Steel) 900 17 Leopalace21 Corp. (Real Estate Management & Development) 9,500 255 Makita Corp. (Household Appliances) 13,600 569 Marubeni Corp. (Trading Companies & Distributors) 85,000 596 Mitsubishi Corp. (Trading Companies & Distributors) 22,700 614 Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) 34,000 321 SHARES VALUE ---------- --------- JAPAN--(CONTINUED) Mitsui Fudosan Co., Ltd. (Real Estate Management & Development) 25,000 $ 539 Mitsumi Electric Co., Ltd. (Computer Storage & Peripherals) 13,100 438 Mizuho Trust & Banking Co., Ltd. (Diversified Banks) 119,000 219 Murata Manufacturing Co., Ltd. (Electronic Equipment Manufacturers) 8,300 477 Nihon M&A Center, Inc. (Diversified Commercial & Professional Services) 7 35 Nikon Corp. (Photographic Products) 26,000 884 Nintendo Co., Ltd. (Home Entertainment Software) 3,600 2,114 Nippon Electric Glass Co., Ltd. (Electronic Equipment Manufacturers) 31,000 504 Nippon Game Card Corp. (Leisure Products) 9 12 Nippon Mining Holdings, Inc. (Oil & Gas Refining & Marketing) 11,000 70 Nippon Oil Corp. (Oil & Gas Refining & Marketing) 69,000 558 Nisshin Steel Co. Ltd. (Steel) 37,000 128 Nomura Holdings, Inc. (Investment Banking & Brokerage) 24,900 417 Nomura Research Institute Ltd. (IT Consulting & Other Services) 8,600 281 Ogaki Kyoritsu Bank Ltd. (The) (Regional Banks) 3,000 17 Sekisui House Ltd. (Homebuilding) 41,000 438 Shin-Etsu Chemical Co., Ltd. (Specialty Chemicals) 8,900 553 Sojitz Corp. (Trading Companies & Distributors) 62,000 221 Sumikin Bussan Corp. (Trading Companies & Distributors) 5,000 18 Sumitomo Metal Industries Ltd. (Steel) 83,000 380 Sumitomo Metal Mining Co., Ltd. (Diversified Metals & Mining) 3,000 51 Tabuchi Electric Co., Ltd. (Electrical Components & Equipment)(b) 4,000 13 Tohto Suisan Co. Ltd. (Food Distributors) 2,000 4 Tokyo Dome Corp. (Leisure Facilities) 5,000 26 Tokyo Star Bank Ltd. (The) (Regional Banks) 8 25 Toshiba Plant Systems & Services Corp. (Construction & Engineering) 5,000 46 Toyo Kohan Co., Ltd. (Steel) 3,000 14 Toyota Motor Corp. (Automobile Manufacturers) 11,900 634 TS Tech Co., Ltd. (Tires & Rubber) 300 14 3
N-Q84th “Page” of 101TOC1stPreviousNextBottomJust 84th
Phoenix International Strategies Fund SHARES VALUE ---------- --------- JAPAN--(CONTINUED) Yamaguchi Financial Group, Inc. (Regional Banks) 40 $ --(g) Yamaha Motor Co., Ltd. (Motorcycle Manufacturers) 9,800 235 Yamato Kogyo Co., Ltd. (Steel) 3,100 125 ------- 16,908 ------- LUXEMBOURG--0.8% ArcelorMittal (Steel) 9,706 754 MEXICO--0.6% Grupo Mexico S.A. de C.V. Series B (Diversified Metals & Mining) 34,860 219 Mexichem S.A. de C.V. (Fertilizers & Agricultural Chemicals) 1,314 5 Telefonos de Mexico S.A. de C.V. Series L (Integrated Telecommunication Services) 175,100 324 ------- 548 ------- NETHERLANDS--4.7% ASML Holding N.V. (Semiconductor Equipment)(b) 15,200 480 Draka Holding N.V. (Electrical Components & Equipment) 2,305 77 Heineken N.V. (Brewers) 14,778 954 Hunter Douglas N.V. (Home Furnishings) 1,638 121 ING Groep N.V. (Other Diversified Financial Services) 58,352 2,274 Koninklijke Ahold N.V. (Food Retail)(b) 10,070 139 OCE N.V. (Office Electronics)(d) 103 2 OCE N.V. (Office Electronics)(e) 2,300 42 Wolters Kluwer N.V. (Publishing) 15,800 520 ------- 4,609 ------- NEW ZEALAND--0.0% Fletcher Building Ltd. (Construction Materials) 5,455 48 NORWAY--0.0% Acta Holding ASA (Multi-Sector Holdings) 4,400 18 Belships ASA (Marine) 1,000 5 ------- 23 ------- RUSSIA--3.7% LUKOIL Sponsored ADR (Integrated Oil & Gas) 18,757 1,619 Mobile TeleSystems OJSC Sponsored ADR (Wireless Telecommunication Services) 15,400 1,567 Novolipetsk Steel GDR Registered Shares (Steel) 2,282 91 SHARES VALUE ---------- --------- RUSSIA--(CONTINUED) VTB Bank OJSC Sponsored GDR 144A (Regional Banks)(b) 29,239 $ 297 ------- 3,574 ------- SINGAPORE--0.7% CapitaLand Ltd. (Real Estate Management & Development) 67,000 288 Jardine Cycle & Carriage Ltd. (Distributors) 17,000 254 Neptune Orient Lines Ltd. (Marine) 15,000 40 Rotary Engineering Ltd. (Construction & Engineering) 20,000 18 Singapore Petroleum Co. Ltd. (Oil & Gas Refining & Marketing) 8,000 42 Swiber Holdings Ltd. (Oil & Gas Equipment & Services)(b) 12,000 28 ------- 670 ------- SOUTH KOREA--1.1% Hanwha Chemical Corp. (Diversified Chemicals)(b) 2,230 43 Honam Petrochemical Corp. (Fertilizers & Agricultural Chemicals)(b) 711 79 KT Corp. (Integrated Telecommunication Services) 12,630 660 Mirae Asset Securities Co., Ltd. (Investment Banking & Brokerage) 1,459 264 ------- 1,046 ------- SPAIN--1.3% Banco Santander SA (Diversified Banks) 17,951 388 Telefonica SA (Integrated Telecommunication Services) 27,700 898 ------- 1,286 ------- SWEDEN--2.5% Atlas Copco AB Class A (Industrial Machinery) 10,000 149 Electrolux AB Series B (Household Appliances) 9,766 162 JM AB (Construction & Engineering) 5,068 104 NCC AB Class B (Construction & Engineering) 1,600 34 Skanska AB Class B (Construction & Engineering) 18,300 342 Telefonaktiebolaget LM Ericsson Class B (Communications Equipment) 122,900 288 Volvo AB Class B (Construction & Farm Machinery & Heavy Trucks) 80,754 1,351 ------- 2,430 ------- SWITZERLAND--5.4% Credit Suisse Group Registered Shares (Diversified Capital Markets) 11,900 716 4
N-Q85th “Page” of 101TOC1stPreviousNextBottomJust 85th
Phoenix International Strategies Fund SHARES VALUE ---------- --------- SWITZERLAND--(CONTINUED) Geberit AG (Building Products) 117 $ 16 Georg Fisher AG Registered Shares (Industrial Machinery)(b) 212 130 Holcim Ltd. Registered Shares (Construction Materials) 4,500 480 Novartis AG Registered Shares (Pharmaceuticals) 13,200 722 Roche Holding AG Registered Shares (Pharmaceuticals) 5,446 941 Swatch Group AG (The) (Apparel, Accessories & Luxury Goods) 394 119 Zurich Financial Services AG Registered Shares (Multi-line Insurance) 7,223 2,120 ------- 5,244 ------- TAIWAN--0.2% Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (Semiconductors) 23,140 230 Taiwan Surface Mounting Technology Co. Ltd. (Electronic Equipment Manufacturers) 8,050 14 ------- 244 ------- THAILAND--0.1% CalComp Electronics Thailand PCL (Electronic Equipment Manufacturers) 308,000 80 TURKEY--0.3% Dogan Sirketler Grubu Holdings A.S. (Industrial Machinery)(b) 74,488 140 Sekerbank T.A.S. (Regional Banks)(b) 10,346 46 Tupras-Turkiye Petro Rafinerileri A.S. (Oil & Gas Refining & Marketing) 2,910 85 ------- 271 ------- UNITED KINGDOM--14.2% 3i Group plc (Asset Management & Custody Banks) 9,546 189 Amec plc (Construction & Engineering) 4,171 70 Antofagasta plc (Diversified Metals & Mining) 131,621 1,866 AstraZeneca plc (Pharmaceuticals) 30,856 1,328 Aviva plc (Multi-line Insurance) 27,200 363 BAE Systems plc (Aerospace & Defense) 57,000 566 Barclays plc (Diversified Banks) 41,600 420 BP plc (Integrated Oil & Gas) 39,113 478 British Airways plc (Airlines)(b) 57,202 350 British Sky Broadcasting Group plc (Broadcasting & Cable TV) 44,000 541 BT Group plc (Integrated Telecommunication Services) 282,723 1,527 SHARES VALUE ---------- --------- UNITED KINGDOM--(CONTINUED) Catlin Group Ltd. (Property & Casualty Insurance) 1,256 $ 9 Centrica plc (Multi-Utilities) 27,133 193 easyJet plc (Airlines)(b) 22,200 270 GlaxoSmithKline plc (Pharmaceuticals) 33,400 848 Imperial Tobacco Group plc (Tobacco) 1,514 82 J Sainsbury plc (Food Retail) 12,408 105 Johnson Matthey plc (Specialty Chemicals) 7,354 274 KCOM Group plc (Integrated Telecommunication Services) 11,083 12 Legal & General Group plc (Life & Health Insurance) 187,220 486 Micro Focus International plc (Application Software) 8,900 45 National Grid plc (Multi-Utilities) 30,185 501 NETeller plc (Education Services)(b) 14,300 15 Next plc (Department Stores) 8,018 258 Petrofac Ltd. (Oil & Gas Equipment & Services) 4,762 52 Rio Tinto plc (Diversified Metals & Mining) 5,551 584 Rolls-Royce Group plc (Aerospace & Defense)(b) 48,290 524 Royal Bank of Scotland Group plc (Diversified Banks) 12,892 114 Scottish & Newcastle plc (Brewers) 31,500 462 Shire plc (Pharmaceuticals) 4,461 103 Smiths Group plc (Industrial Conglomerates) 17,267 346 Sportingbet plc (Casinos & Gaming)(b) 16,121 17 SVG Capital plc (Asset Management & Custody Banks) 933 14 Tanfield Group plc (Construction & Farm Machinery & Heavy Trucks)(b) 13,132 36 THUS Group plc (Alternative Carriers)(b) 16,468 43 Vodafone Group plc (Wireless Telecommunication Services) 190,979 717 Wolseley plc (Trading Companies & Distributors) 9,097 134 ------- 13,942 ------- UNITED STATES--3.6% Royal Dutch Shell plc Class A (Integrated Oil & Gas)(d) 70,999 2,993 Royal Dutch Shell plc Class A (Integrated Oil & Gas)(f) 13,100 553 ------- 3,546 ---------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $79,828) 96,348 ---------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--98.5% (IDENTIFIED COST $79,828) 96,348 ------- 5
N-Q86th “Page” of 101TOC1stPreviousNextBottomJust 86th
Phoenix International Strategies Fund TOTAL INVESTMENTS--98.5% (IDENTIFIED COST $79,828) 96,348(a) Other assets and liabilities, net--1.5% 1,500 ------- NET ASSETS--100.0% $97,848 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $20,634 and gross depreciation of $4,180 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $79,894. (b) Non-income producing. (c) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (d) Shares traded on Amsterdam Exchange. (e) Shares traded on China exchange. (f) Shares traded on London Exchange. (g) Amount is less than $1,000. 6
N-Q87th “Page” of 101TOC1stPreviousNextBottomJust 87th
Phoenix Worldwide Strategies Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) ------------ ---------- DOMESTIC COMMON STOCKS--28.8% UNITED STATES--28.8% Abbott Laboratories (Pharmaceuticals) 1,520 $ 85 Aeropostale, Inc. (Apparel Retail)(b)(d) 1,450 38 Aetna, Inc. (Managed Health Care) 3,980 230 AFLAC, Inc. (Life & Health Insurance) 2,600 163 AGCO Corp. (Construction & Farm Machinery & Heavy Trucks)(b)(d) 1,560 106 Agilent Technologies, Inc. (Electronic Equipment Manufacturers)(b)(d) 3,960 145 AK Steel Holding Corp. (Steel)(b) 2,390 111 Altria Group, Inc. (Tobacco) 3,290 249 American Axle & Manufacturing Holdings, Inc. (Auto Parts & Equipment)(d) 1,150 21 American Greetings Corp. Class A (Housewares & Specialties)(d) 1,300 26 American International Group, Inc. (Multi-line Insurance) 9,920 578 Ameriprise Financial, Inc. (Asset Management & Custody Banks) 870 48 Amkor Technology, Inc. (Semiconductors)(b)(d) 3,340 28 AMR Corp. (Airlines)(b)(d) 2,310 32 Anheuser-Busch Cos., Inc. (Brewers) 4,390 230 Annaly Capital Management, Inc. (Mortgage REITs)(d) 8,670 158 AON Corp. (Insurance Brokers)(d) 2,460 117 Applied Materials, Inc. (Semiconductor Equipment)(d) 9,410 167 Arrow Electronics, Inc. (Technology Distributors)(b)(d) 480 19 Aspen Technology, Inc. (Application Software)(b) 3,690 60 AT&T, Inc. (Integrated Telecommunication Services) 21,789 906 Automatic Data Processing, Inc. (Data Processing & Outsourced Services) 3,300 147 Ball Corp. (Metal & Glass Containers) 680 31 Bank of America Corp. (Other Diversified Financial Services) 20,380 841 Bank of Hawaii Corp. (Regional Banks) 390 20 Bank of New York Mellon Corp. (The) (Asset Management & Custody Banks) 5,473 267 VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) Baxter International, Inc. (Health Care Equipment) 3,320 $ 193 Big Lots, Inc. (General Merchandise Stores)(b)(d) 2,360 38 BJ's Wholesale Club, Inc. (Hypermarkets & Super Centers)(b)(d) 1,790 61 BMC Software, Inc. (Systems Software)(b)(d) 1,940 69 Boeing Co. (The) (Aerospace & Defense) 4,340 380 Bristol-Myers Squibb Co. (Pharmaceuticals) 2,880 76 CapitalSource, Inc. (Mortgage REITs)(d) 1,120 20 Cardinal Health, Inc. (Health Care Distributors) 2,610 151 CBS Corp. Class B (Broadcasting & Cable TV) 7,640 208 Cephalon, Inc. (Biotechnology)(b)(d) 380 27 Charles Schwab Corp. (The) (Investment Banking & Brokerage) 3,360 86 Chevron Corp. (Integrated Oil & Gas) 3,080 287 Chubb Corp. (The) (Property & Casualty Insurance) 1,270 69 CIGNA Corp. (Managed Health Care) 2,590 139 Cincinnati Financial Corp. (Property & Casualty Insurance) 1,170 46 Cisco Systems, Inc. (Communications Equipment)(b) 22,160 600 Citigroup, Inc. (Other Diversified Financial Services) 2,080 61 Clorox Co. (The) (Household Products) 3,090 201 Coca-Cola Co. (The) (Soft Drinks) 4,850 298 Comerica, Inc. (Diversified Banks)(d) 1,320 57 Computer Sciences Corp. (Data Processing & Outsourced Services)(b)(d) 1,770 88 ConocoPhillips (Integrated Oil & Gas) 4,130 365 Continental Airlines, Inc. Class B (Airlines)(b)(d) 750 17 Coventry Health Care, Inc. (Managed Health Care)(b)(d) 590 35 Cummins, Inc. (Construction & Farm Machinery & Heavy Trucks) 260 33 Devon Energy Corp. (Oil & Gas Exploration & Production)(d) 330 29 Donnelley (R.R.) & Sons Co. (Commercial Printing) 2,710 102 Dover Corp. (Industrial Machinery) 800 37 Dow Chemical Co. (The) (Diversified Chemicals)(d) 2,770 109 1
N-Q88th “Page” of 101TOC1stPreviousNextBottomJust 88th
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) Dresser-Rand Group, Inc. (Oil & Gas Equipment & Services)(b) 1,470 $ 57 Du Pont (E.I.) de Nemours & Co. (Diversified Chemicals)(d) 4,380 193 Dun & Bradstreet Corp. (Diversified Commercial & Professional Services)(d) 920 82 Eastman Kodak Co. (Photographic Products)(d) 2,100 46 Eaton Corp. (Industrial Machinery) 2,910 282 eBay, Inc. (Internet Software & Services)(b) 6,560 218 Electronic Data Systems Corp. (Data Processing & Outsourced Services)(d) 5,070 105 Emerson Electric Co. (Electrical Components & Equipment) 6,120 347 Emulex Corp. (Computer Storage & Peripherals)(b)(d) 3,980 65 Endo Pharmaceuticals Holdings, Inc. (Pharmaceuticals)(b) 1,800 48 ENSCO International, Inc. (Oil & Gas Drilling)(d) 580 35 Expedia, Inc. (Internet Retail)(b)(d) 1,000 32 Exxon Mobil Corp. (Integrated Oil & Gas) 16,270 1,524 Family Dollar Stores, Inc. (General Merchandise Stores)(d) 2,280 44 Federated Investors, Inc. Class B (Asset Management & Custody Banks)(d) 1,870 77 FelCor Lodging Trust, Inc. (Specialized REITs)(d) 3,180 50 FirstEnergy Corp. (Electric Utilities) 5,710 413 Fiserv, Inc. (Data Processing & Outsourced Services)(b)(d) 2,840 158 Forest Laboratories, Inc. (Pharmaceuticals)(b) 2,860 104 Franklin Resources, Inc. (Asset Management & Custody Banks) 1,070 122 Freeport-McMoRan Copper & Gold, Inc. (Indonesia) (Diversified Metals & Mining)(c) 610 62 Gap, Inc. (The) (Apparel Retail)(d) 5,110 109 Gardner Denver, Inc. (Industrial Machinery)(b) 1,060 35 General Dynamics Corp. (Aerospace & Defense) 1,000 89 General Mills, Inc. (Packaged Foods & Meats) 2,090 119 Goldman Sachs Group, Inc. (The) (Investment Banking & Brokerage) 1,220 262 GrafTech International Ltd. (Electrical Components & Equipment)(b)(d) 1,300 23 H.B. Fuller Co. (Specialty Chemicals)(d) 1,750 39 Hartford Financial Services Group, Inc. (The) (Multi-line Insurance) 390 34 Hasbro, Inc. (Leisure Products)(d) 1,090 28 VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) Hewlett-Packard Co. (Computer Hardware) 11,610 $ 586 Holly Corp. (Oil & Gas Refining & Marketing) 710 36 Honeywell International, Inc. (Aerospace & Defense) 3,640 224 Host Hotels & Resorts, Inc. (Specialized REITs)(d) 2,670 45 IAC/InterActiveCorp. (Internet Retail)(b)(d) 2,130 57 Integrated Device Technology, Inc. (Semiconductors)(b)(d) 4,710 53 Intel Corp. (Semiconductors) 10,400 277 International Business Machines Corp. (Computer Hardware) 7,180 776 Invitrogen Corp. (Life Sciences Tools & Services)(b) 780 73 Johnson & Johnson (Pharmaceuticals) 11,420 762 Jones Lang LaSalle, Inc. (Real Estate Management & Development)(d) 220 16 JPMorgan Chase & Co. (Other Diversified Financial Services) 18,410 804 KeyCorp (Regional Banks)(d) 2,640 62 Kimberly-Clark Corp. (Household Products)(d) 1,200 83 Kroger Co. (The) (Food Retail) 3,840 103 Lam Research Corp. (Semiconductor Equipment)(d) 1,000 43 Lear Corp. (Auto Parts & Equipment)(b) 3,750 104 Legg Mason, Inc. (Asset Management & Custody Banks)(d) 1,380 101 Lincoln National Corp. (Life & Health Insurance) 3,320 193 Lockheed Martin Corp. (Aerospace & Defense) 2,800 295 Loews Corp. - Carolina Group (Tobacco)(d) 3,120 266 Marathon Oil Corp. (Integrated Oil & Gas) 1,850 113 Masco Corp. (Building Products)(d) 3,470 75 Massey Energy Co. (Coal & Consumable Fuels) 3,990 143 McAfee, Inc. (Systems Software)(b)(d) 830 31 McDonald's Corp. (Restaurants) 7,840 462 McKesson Corp. (Health Care Distributors) 3,390 222 Medco Health Solutions, Inc. (Health Care Services)(b) 830 84 MEMC Electronic Materials, Inc. (Semiconductor Equipment)(b) 730 65 Men's Wearhouse, Inc. (The) (Apparel Retail) 910 25 Merck & Co., Inc. (Pharmaceuticals) 11,350 660 MetLife, Inc. (Life & Health Insurance)(d) 7,240 446 Microsoft Corp. (Systems Software) 32,040 1,141 National Oilwell Varco, Inc. (Oil & Gas Equipment & Services)(b) 3,400 250 2
N-Q89th “Page” of 101TOC1stPreviousNextBottomJust 89th
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) NBTY, Inc. (Personal Products)(b) 3,820 $ 105 NCR Corp. (Computer Hardware)(b)(d) 670 17 Network Appliance, Inc. (Computer Storage & Peripherals)(b) 2,190 55 Newell Rubbermaid, Inc. (Housewares & Specialties) 2,730 71 NIKE, Inc. Class B (Footwear) 3,180 204 Noble Energy, Inc. (Oil & Gas Exploration & Production) 380 30 Norfolk Southern Corp. (Railroads)(d) 1,510 76 Northern Trust Corp. (Asset Management & Custody Banks) 2,310 177 Northrop Grumman Corp. (Aerospace & Defense) 1,740 137 Novellus Systems, Inc. (Semiconductor Equipment)(b)(d) 2,800 77 NVIDIA Corp. (Semiconductors)(b)(d) 3,750 128 Occidental Petroleum Corp. (Integrated Oil & Gas) 10,770 829 Oracle Corp. (Systems Software)(b) 16,520 373 OSI Pharmaceuticals, Inc. (Biotechnology)(b)(d) 3,900 189 Owens-Illinois, Inc. (Metal & Glass Containers)(b)(d) 970 48 Packaging Corp. of America (Paper Packaging)(d) 2,840 80 Parker Hannifin Corp. (Industrial Machinery) 1,945 146 Pepsi Bottling Group, Inc. (The) (Soft Drinks)(d) 6,259 247 Perini Corp. (Construction & Engineering)(b)(d) 380 16 Pfizer, Inc. (Pharmaceuticals) 25,170 572 Philadelphia Consolidated Holding Co. (Property & Casualty Insurance)(b) 520 20 Principal Financial Group, Inc. (The) (Life & Health Insurance)(d) 2,900 200 Procter & Gamble Co. (The) (Household Products) 1,910 140 Prudential Financial, Inc. (Life & Health Insurance)(d) 3,330 310 Public Service Enterprise Group, Inc. (Multi-Utilities) 2,930 288 QLogic Corp. (Computer Storage & Peripherals)(b) 2,200 31 Qwest Communications International, Inc. (Integrated Telecommunication Services)(d) 8,580 60 RadioShack Corp. (Computer & Electronics Retail)(d) 2,590 44 Raytheon Co. (Aerospace & Defense) 1,940 118 Regions Financial Corp. (Regional Banks) 3,150 74 Reynolds American, Inc. (Tobacco)(d) 520 34 VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) SEI Investments Co. (Asset Management & Custody Banks)(d) 2,720 $ 88 Sherwin-Williams Co. (The) (Home Improvement Retail)(d) 3,710 215 Southern Copper Corp. (Diversified Metals & Mining)(d) 930 98 Sprint Nextel Corp. (Wireless Telecommunication Services)(d) 8,900 117 StanCorp Financial Group, Inc. (Life & Health Insurance)(d) 460 23 Stanley Works (The) (Household Appliances)(d) 1,200 58 State Street Corp. (Asset Management & Custody Banks)(d) 3,290 267 SunTrust Banks, Inc. (Regional Banks) 520 32 SUPERVALU, Inc. (Food Retail)(d) 1,400 53 Symantec Corp. (Systems Software)(b)(d) 8,550 138 TD Ameritrade Holding Corp. (Investment Banking & Brokerage)(b)(d) 3,630 73 Teleflex, Inc. (Industrial Conglomerates) 740 47 Terra Industries, Inc. (Fertilizers & Agricultural Chemicals)(b)(d) 520 25 Texas Instruments, Inc. (Semiconductors)(d) 6,440 215 Thor Industries, Inc. (Automobile Manufacturers)(d) 1,030 39 Tidewater, Inc. (Oil & Gas Equipment & Services)(d) 1,510 83 Time Warner, Inc. (Movies & Entertainment)(d) 16,580 274 Toro Co. (The) (Construction & Farm Machinery & Heavy Trucks)(d) 1,450 79 Transocean, Inc. (Oil & Gas Drilling)(b) 1,630 233 Travelers Cos., Inc. (The) (Property & Casualty Insurance) 6,040 325 Tyco Electronics Ltd. (Electronic Manufacturing Services) 3,350 124 Tyco International Ltd. (Industrial Conglomerates) 6,062 240 United Parcel Service, Inc. Class B (Air Freight & Logistics)(d) 1,110 78 United Technologies Corp. (Aerospace & Defense) 6,710 514 UnitedHealth Group, Inc. (Managed Health Care) 6,450 375 Universal Corp. (Tobacco)(d) 1,010 52 Unum Group (Life & Health Insurance)(d) 1,040 25 Valero Energy Corp. (Oil & Gas Refining & Marketing) 1,810 127 3
N-Q90th “Page” of 101TOC1stPreviousNextBottomJust 90th
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) Verizon Communications, Inc. (Integrated Telecommunication Services) 4,550 $ 199 VF Corp. (Apparel, Accessories & Luxury Goods)(d) 1,070 73 Viacom, Inc. Class B (Movies & Entertainment)(b)(d) 7,460 328 W&T Offshore, Inc. (Oil & Gas Exploration & Production)(d) 2,310 69 Wal-Mart Stores, Inc. (Hypermarkets & Super Centers)(d) 3,900 185 Walt Disney Co. (The) (Movies & Entertainment)(d) 11,310 365 WellPoint, Inc. (Managed Health Care)(b) 2,600 228 Wells Fargo & Co. (Diversified Banks) 12,100 365 Whirlpool Corp. (Household Appliances)(d) 520 42 Windstream Corp. (Integrated Telecommunication Services)(d) 10,310 134 Wyeth (Pharmaceuticals) 1,760 78 Xerox Corp. (Office Electronics)(d) 1,620 26 Yum! Brands, Inc. (Restaurants)(d) 5,040 193 ---------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $27,925) 33,381 ---------------------------------------------------------------------------- FOREIGN COMMON STOCKS(c)--69.6% AUSTRALIA--4.8% Admiralty Resources NL (Gold)(b) 25,671 10 Ausenco Ltd. (Construction & Engineering) 1,109 15 AXA Asia Pacific Holdings Ltd. (Life & Health Insurance)(d) 61,771 397 BHP Billiton Ltd. (Diversified Metals & Mining)(d) 17,701 619 Caltex Australia Ltd. (Oil & Gas Refining & Marketing) 10,704 181 Leighton Holdings Ltd. (Construction & Engineering)(d) 11,593 613 Orica Ltd. (Diversified Chemicals) 16,961 469 Qantas Airways Ltd. (Airlines) 219,344 1,042 QBE Insurance Group Ltd. (Property & Casualty Insurance) 17,900 520 Rio Tinto Ltd. (Diversified Metals & Mining)(d) 8,468 985 Santos Ltd. (Oil & Gas Exploration & Production) 33,799 415 Woodside Petroleum Ltd. (Oil & Gas Exploration & Production) 7,293 320 -------- 5,586 -------- AUSTRIA--0.4% Voestalpine AG (Steel) 6,214 445 VALUE SHARES (000) ------------ ---------- BELGIUM--1.7% Belgacom SA (Integrated Telecommunication Services)(d) 4,000 $ 197 Colruyt SA (Food Retail) 187 44 Delhaize Group (Food Retail) 8,012 704 Dexia SA (Diversified Banks) 41,946 1,053 -------- 1,998 -------- CANADA--0.6% Allen-Vanguard Corp. (Aerospace & Defense)(b) 4,500 24 Canadian Imperial Bank of Commerce (Diversified Banks) 2,635 188 Churchill Corp. (The) Class A (Construction & Engineering)(b) 3,100 71 Empire Co., Ltd. Class A (Food Retail)(b) 600 26 Jean Coutu Group, Inc. (The) Class A (Drug Retail) 3,200 36 Petro-Canada (Integrated Oil & Gas) 4,100 220 Sherritt International Corp. (Diversified Metals & Mining) 4,500 61 Taseko Mines Ltd. (Gold)(b)(d) 11,100 57 -------- 683 -------- CHINA--0.2% Kazakhmys plc (Diversified Metals & Mining) 8,386 227 DENMARK--0.5% D/S Norden (Marine) 5,375 597 FINLAND--0.9% Fortum Oyj (Electric Utilities) 8,000 359 Nokia Oyj (Communications Equipment) 16,800 645 Ramirent Oyj (Consumer Finance) 1,192 20 -------- 1,024 -------- FRANCE--7.1% Alstom (Heavy Electrical Equipment) 1,963 422 BNP Paribas SA (Diversified Banks)(d) 11,350 1,231 Bouygues SA (Wireless Telecommunication Services)(d) 3,200 266 Cap Gemini SA (IT Consulting & Other Services) 352 22 Carrefour SA (Hypermarkets & Super Centers)(d) 4,749 370 Compagnie Generale des Etablissements Michelin Class B (Tires & Rubber) 4,369 499 Credit Agricole SA (Diversified Banks)(d) 7,388 249 France Telecom SA (Integrated Telecommunication Services) 7,467 268 LVMH Moet Hennessy Louis Vuitton SA (Apparel, Accessories & Luxury Goods) 3,204 387 4
N-Q91st “Page” of 101TOC1stPreviousNextBottomJust 91st
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- FRANCE--(CONTINUED) PPR (Department Stores) 2,933 $ 471 Publicis Groupe (Advertising) 10,064 394 Rallye SA (Specialty Stores) 921 65 Recylex SA (Diversified Metals & Mining)(b) 2,228 51 Sanofi-Aventis SA (Pharmaceuticals)(d) 5,100 467 Societe Generale (Diversified Banks)(d) 6,907 999 Technip SA (Oil & Gas Equipment & Services)(d) 5,895 469 Total SA (Integrated Oil & Gas)(d) 9,000 745 Ubi Soft Entertainment (Home Entertainment Software)(b) 917 93 Vallourec SA (Industrial Machinery) 1,100 298 Vivendi Universal SA (Movies & Entertainment) 10,677 490 -------- 8,256 -------- GERMANY--7.8% Allianz AG Registered Shares (Multi-line Insurance) 2,400 517 Arcandor AG (Department Stores)(b)(d) 8,200 196 Bechtle AG (IT Consulting & Other Services) 546 22 Beiersdorf AG (Personal Products) 2,136 165 Continental AG (Tires & Rubber) 1,152 151 DaimlerChrysler AG (Automobile Manufacturers) 4,657 451 Deutsche Bank AG Registered Shares (Diversified Capital Markets) 3,200 418 Deutsche Lufthansa AG Registered Shares (Airlines) 41,132 1,096 Deutsche Telekom AG Registered Shares (Integrated Telecommunication Services) 9,794 216 E.ON AG (Electric Utilities) 7,986 1,698 GEA Group AG (Industrial Machinery)(b) 6,832 238 MAN AG (Industrial Machinery) 3,161 525 MTU Aero Engines Holding AG (Aerospace & Defense) 909 53 Salzgitter AG (Steel) 4,873 728 Siemens AG Registered Shares (Industrial Conglomerates) 3,100 493 Symrise AG (Fertilizers & Agricultural Chemicals)(b) 6,689 189 ThyssenKrupp AG (Steel) 17,845 1,004 Volkswagen AG (Automobile Manufacturers)(d) 3,888 894 -------- 9,054 -------- GREECE--0.4% Alpha Bank AE (Diversified Banks) 12,852 465 VALUE SHARES (000) ------------ ---------- HONG KONG--3.5% Bank of East Asia Ltd. (Diversified Banks) 49,000 $ 332 Cheung Kong Holdings Ltd. (Real Estate Management & Development) 24,000 438 China Mobile Ltd. (Wireless Telecommunication Services) 24,000 418 Chun Wo Development Holdings Ltd. (Construction & Engineering) 44,000 8 Enerchina Holdings Ltd. (Multi-Sector Holdings)(b) 170,300 8 Guangdong Investments Ltd. (Industrial Conglomerates) 296,000 166 Hang Lung Properties Ltd. (Real Estate Management & Development) 110,000 492 Hong Kong Exchanges & Clearing Ltd. (Specialized Finance) 40,500 1,135 Mirabell International Holdings Ltd. (Apparel Retail) 20,000 14 Sinolink Worldwide Holdings Ltd. (Real Estate Management & Development) 262,000 58 Sun Hung Kai Properties Ltd. (Real Estate Management & Development) 22,000 462 Television Broadcasts Ltd. (Broadcasting & Cable TV) 52,000 311 VTech Holdings Ltd. (Communications Equipment) 34,907 248 -------- 4,090 -------- IRELAND--0.2% Experian Group Ltd. (Diversified Commercial & Professional Services) 26,620 210 ISRAEL--0.1% Cellcom Israel Ltd. (Wireless Telecommunication Services) 2,108 67 Partner Communications Co., Ltd. ADR (Wireless Telecommunication Services) 1,900 42 -------- 109 -------- ITALY--1.8% Banca Popolare dell'Emilia Romagna Scrl (Regional Banks) 1,113 26 Enel S.p.A. (Electric Utilities) 76,808 913 ENI S.p.A. (Integrated Oil & Gas) 12,984 474 Fiat S.p.A. (Automobile Manufacturers) 14,716 379 Indesit Co. S.p.A. (Household Appliances) 3,033 47 UniCredito Italiano S.p.A. (Diversified Banks) 34,900 287 -------- 2,126 -------- 5
N-Q92nd “Page” of 101TOC1stPreviousNextBottomJust 92nd
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- JAPAN--12.1% Aucnet, Inc. (Education Services) 600 $ 10 Bank of Yokohama Ltd. (The) (Regional Banks) 27,000 188 Brother Industries Ltd. (Office Electronics)(d) 9,000 116 Canon Marketing Japan, Inc. (Distributors) 20 --(i) Cosmos Initia Co.,Ltd. (Real Estate Management & Development) 3,000 9 Create SD Co., Ltd. (Drug Retail) 1,600 37 Dena Co., Ltd. (Internet Retail)(d) 25 119 East Japan Railway Co. (Railroads) 35 288 FANUC Ltd. (Industrial Machinery) 4,600 446 FUJIFILM Holdings Corp. (Electronic Equipment Manufacturers) 500 21 Fujitsu Ltd. (Computer Hardware) 36,000 241 Geo Corp. (Computer & Electronics Retail) 23 41 Hitachi Construction Machinery Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 12,700 377 IB Daiwa Corp. (Industrial Machinery)(b) 43,000 16 Imagineer Co., Ltd. (Electronic Equipment Manufacturers) 800 8 Infocom Corp. (IT Consulting & Other Services) 17 8 Inpex Holdings, Inc. (Oil & Gas Exploration & Production) 35 380 Isetan Co., Ltd. (Department Stores)(d) 19,800 267 Iyo Bank Ltd. (The) (Regional Banks) 5,000 49 Juki Corp. (Household Appliances) 6,000 36 Kanto Auto Works Ltd. (Auto Parts & Equipment) 1,700 22 Kao Corp. (Household Products) 12,000 361 Kohnan Shoji Co., Ltd. (General Merchandise Stores)(d) 2,500 43 Komatsu Ltd. (Construction & Farm Machinery & Heavy Trucks)(d) 13,500 362 Kosaido Co., Ltd. (Commercial Printing) 9,300 63 Leopalace21 Corp. (Real Estate Management & Development) 10,400 279 Makita Corp. (Household Appliances) 3,500 146 Marubeni Corp. (Trading Companies & Distributors) 147,000 1,030 Matsuda Sangyo Co., Ltd. (Environmental & Facilities Services)(d) 1,100 25 Mikuni Corp. (Auto Parts & Equipment) 5,000 17 Mitsubishi Corp. (Trading Companies & Distributors) 19,400 525 Mitsubishi Electric Corp. (Heavy Electrical Equipment) 43,000 445 VALUE SHARES (000) ------------ ---------- JAPAN--(CONTINUED) Mitsubishi UFJ Financial Group, Inc. (Diversified Banks) 29,000 $ 273 Mitsui Fudosan Co., Ltd. (Real Estate Management & Development) 20,000 431 Mitsui O.S.K. Lines Ltd. (Marine) 16,000 202 Mitsumi Electric Co., Ltd. (Computer Storage & Peripherals)(d) 8,800 294 Mizuho Trust & Banking Co., Ltd. (Diversified Banks) 24,000 44 Murata Manufacturing Co., Ltd. (Electronic Equipment Manufacturers) 7,000 402 Nihon M&A Center, Inc. (Diversified Commercial & Professional Services)(d) 7 35 Nikon Corp. (Photographic Products)(d) 20,000 680 Nintendo Co., Ltd. (Home Entertainment Software) 2,700 1,585 Nippon Electric Glass Co., Ltd. (Electronic Equipment Manufacturers) 27,000 439 Nippon Mining Holdings, Inc. (Oil & Gas Refining & Marketing) 7,500 48 Nippon Oil Corp. (Oil & Gas Refining & Marketing) 49,000 396 Nomura Holdings, Inc. (Investment Banking & Brokerage)(d) 22,000 369 Nomura Research Institute Ltd. (IT Consulting & Other Services) 7,400 242 Ogaki Kyoritsu Bank Ltd. (The) (Regional Banks) 3,000 17 Proto Corp. (Advertising) 500 14 Riso Kagaku Corp. (Office Electronics) 2,500 44 Sekisui House Ltd. (Homebuilding)(d) 35,000 374 Shin-Etsu Chemical Co., Ltd. (Specialty Chemicals) 7,600 473 Sinko Industries Ltd. (Building Products) 7,000 59 Sumitomo Metal Industries Ltd. (Steel) 70,000 320 Sumitomo Metal Mining Co., Ltd. (Diversified Metals & Mining) 4,000 68 Tabuchi Electric Co., Ltd. (Electrical Components & Equipment)(b) 4,000 13 Taihei Kogyo Co., Ltd. (Construction & Engineering) 10,000 50 Tokyo Tekko Co., Ltd. (Steel)(d) 3,000 11 Toshiba Plant Systems & Services Corp. (Construction & Engineering) 13,000 120 Toyo Kohan Co., Ltd. (Steel)(d) 3,000 14 6
N-Q93rd “Page” of 101TOC1stPreviousNextBottomJust 93rd
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- JAPAN--(CONTINUED) Toyo Suisan Kaisha Ltd. (Packaged Foods & Meats) 1,000 $ 18 Toyota Motor Corp. (Automobile Manufacturers) 10,200 543 TS Tech Co., Ltd. (Tires & Rubber) 500 23 Yamaha Motor Co., Ltd. (Motorcycle Manufacturers)(d) 8,200 196 Yamato Kogyo Co., Ltd. (Steel) 5,500 223 -------- 13,995 -------- LUXEMBOURG--0.4% ArcelorMittal (Steel) 5,879 457 MEXICO--0.5% Grupo Mexico S.A. de C.V. Series B (Diversified Metals & Mining) 31,600 199 Mexichem S.A. de C.V. (Fertilizers & Agricultural Chemicals) 15,869 63 Telefonos de Mexico S.A. de C.V. Series L (Integrated Telecommunication Services) 192,200 356 -------- 618 -------- NETHERLANDS--3.1% ASML Holding N.V. (Semiconductor Equipment)(b) 14,756 466 Draka Holding N.V. (Electrical Components & Equipment) 3,751 126 Heineken N.V. (Brewers) 5,311 343 Hunter Douglas N.V. (Home Furnishings) 2,485 183 ING Groep N.V. (Other Diversified Financial Services) 49,575 1,932 OCE N.V. (Office Electronics)(d) 4,164 75 Randstad Holding N.V. (Human Resources & Employment Services)(d) 1,912 75 Unilever N.V. - CVA (Packaged Foods & Meats)(d) 249 9 Wolters Kluwer N.V. (Publishing) 13,471 443 -------- 3,652 -------- NEW ZEALAND--0.1% Fletcher Building Ltd. (Construction Materials)(d) 14,766 130 NORWAY--0.1% Acta Holding ASA (Multi-Sector Holdings)(d) 4,400 18 Cermaq ASA (Agricultural Products) 1,500 21 Petroleum Geo-Services ASA (Oil & Gas Equipment & Services)(b) 2,750 79 -------- 118 -------- RUSSIA--2.6% LUKOIL Sponsored ADR (Integrated Oil & Gas) 8,995 776 VALUE SHARES (000) ------------ ---------- RUSSIA--(CONTINUED) Mobile TeleSystems OJSC Sponsored ADR (Wireless Telecommunication Services) 17,800 $ 1,812 Novolipetsk Steel GDR Registered Shares (Steel) 3,828 153 VTB Bank OJSC Sponsored GDR 144A (Regional Banks)(b)(g) 23,595 240 -------- 2,981 -------- SINGAPORE--0.7% CapitaLand Ltd. (Real Estate Management & Development) 50,000 215 Jardine Cycle & Carriage Ltd. (Distributors) 26,000 388 L.C. Development Ltd. (Real Estate Management & Development) 29,000 8 Rotary Engineering Ltd. (Construction & Engineering) 44,000 39 Seagate Technology (Computer Storage & Peripherals)(d) 3,260 83 Swiber Holdings Ltd. (Oil & Gas Equipment & Services)(b) 20,000 47 -------- 780 -------- SOUTH KOREA--0.6% Hyundai Heavy Industries Co., Ltd. (Construction & Farm Machinery & Heavy Trucks) 137 64 KT Corp. (Integrated Telecommunication Services) 9,890 517 Mirae Asset Securities Co., Ltd. (Investment Banking & Brokerage) 727 131 -------- 712 -------- SPAIN--1.0% Banco Santander SA (Diversified Banks) 15,548 336 Telefonica SA (Integrated Telecommunication Services) 23,700 768 -------- 1,104 -------- SWEDEN--1.5% JM AB (Construction & Engineering) 3,200 66 Scania AB Class A (Construction & Farm Machinery & Heavy Trucks)(d) 5,300 138 Skanska AB Class B (Construction & Engineering) 14,175 265 Telefonaktiebolaget LM Ericsson Class B (Communications Equipment) 105,717 247 Volvo AB Class B (Construction & Farm Machinery & Heavy Trucks) 64,167 1,074 -------- 1,790 -------- 7
N-Q94th “Page” of 101TOC1stPreviousNextBottomJust 94th
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- SWITZERLAND--3.7% Credit Suisse Group Registered Shares (Diversified Capital Markets) 10,217 $ 615 Forbo Holding AG Registered Shares (Home Furnishings)(b) 30 19 Galenica AG Registered Shares (Health Care Distributors) 127 55 Holcim Ltd. Registered Shares (Construction Materials) 3,300 352 Meyer Burger Technology AG (Industrial Machinery)(b) 274 101 Nestle S.A. Registered Shares (Packaged Foods & Meats) 44 20 Novartis AG Registered Shares (Pharmaceuticals) 11,210 613 Roche Holding AG Registered Shares (Pharmaceuticals) 4,537 784 Swatch Group AG (The) (Apparel, Accessories & Luxury Goods) 898 270 Zurich Financial Services AG Registered Shares (Multi-line Insurance) 4,867 1,428 -------- 4,257 -------- TAIWAN--0.2% Chunghwa Telecom Co., Ltd. (Integrated Telecommunication Services)(h) 1,675 4 Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (Semiconductors) 26,130 260 -------- 264 -------- THAILAND--0.0% IRPC PCL (Fertilizers & Agricultural Chemicals) 196,600 37 TURKEY--0.2% Sekerbank T.A.S. (Regional Banks)(b) 6,629 29 Tupras-Turkiye Petro Rafinerileri A.S. (Oil & Gas Refining & Marketing) 6,335 185 -------- 214 -------- UNITED KINGDOM--10.1% 3i Group plc (Asset Management & Custody Banks) 12,779 253 Antofagasta plc (Diversified Metals & Mining) 107,797 1,528 AstraZeneca plc (Pharmaceuticals) 27,426 1,181 Aviva plc (Multi-line Insurance) 24,270 323 BAE Systems plc (Aerospace & Defense) 29,710 295 Barclays plc (Diversified Banks) 36,550 369 BP plc (Integrated Oil & Gas) 33,345 408 British American Tobacco plc (Tobacco) 17,393 680 VALUE SHARES (000) ------------ ---------- UNITED KINGDOM--(CONTINUED) British Sky Broadcasting Group plc (Broadcasting & Cable TV) 38,700 $ 476 BT Group plc (Integrated Telecommunication Services) 196,291 1,060 Character Group plc (The) (Leisure Products) 2,889 5 CSR plc (Semiconductors)(b) 751 9 easyJet plc (Airlines)(b) 19,400 236 GlaxoSmithKline plc (Pharmaceuticals) 29,400 747 Johnson Matthey plc (Specialty Chemicals) 6,326 236 KCOM Group plc (Integrated Telecommunication Services) 9,976 11 Keller Group plc (Construction & Engineering) 759 10 Legal & General Group plc (Life & Health Insurance) 172,300 448 Michael Page International plc (Human Resources & Employment Services) 23,656 135 Micro Focus International plc (Application Software) 3,289 17 National Grid plc (Multi-Utilities) 28,212 468 NETeller plc (Education Services)(b) 15,300 17 Next plc (Department Stores) 912 29 Petrofac Ltd. (Oil & Gas Equipment & Services) 7,392 81 Reckitt Benckiser Group plc (Household Products) 715 42 Rio Tinto plc (Diversified Metals & Mining) 4,746 499 Rolls-Royce Group plc (Aerospace & Defense)(b) 42,477 461 Royal Bank of Scotland Group plc (Diversified Banks) 19,584 173 Scottish & Newcastle plc (Brewers) 27,640 405 Smiths Group plc (Industrial Conglomerates) 13,980 280 Tanfield Group plc (Construction & Farm Machinery & Heavy Trucks)(b)(d) 11,893 32 THUS Group plc (Alternative Carriers)(b) 11,186 29 Vodafone Group plc (Wireless Telecommunication Services) 167,925 630 Wolseley plc (Trading Companies & Distributors) 9,874 145 -------- 11,718 -------- UNITED STATES--2.7% Accenture Ltd. Class A (IT Consulting & Other Services)(d) 5,050 182 Ingersoll-Rand Co., Ltd. Class A (Industrial Machinery) 750 35 Nova Chemicals Corp. (Commodity Chemicals) 900 29 8
N-Q95th “Page” of 101TOC1stPreviousNextBottomJust 95th
Phoenix Worldwide Strategies Fund VALUE SHARES (000) ------------ ---------- UNITED STATES--(CONTINUED) Royal Dutch Shell plc Class A (Integrated Oil & Gas)(d) 11,460 $ 484 Royal Dutch Shell plc Class A (Integrated Oil & Gas)(d) 55,892 2,356 XL Capital Ltd. Class A (Property & Casualty Insurance)(d) 1,420 72 -------- 3,158 ---------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $68,183) 80,855 ---------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--98.4% (IDENTIFIED COST $96,108) 114,236 SHORT-TERM INVESTMENTS--15.0% MONEY MARKET MUTUAL FUNDS(e)--14.3% State Street Navigator Prime Plus (4.201% seven-day effective yield) 16,620,134 16,620 PAR VALUE VALUE (000) (000) ------------ ---------- COMMERCIAL PAPER(f)--0.7% Praxair. Inc. 3.600% due 1/2/08 $830 830 ---------------------------------------------------------------------------- TOTAL SHORT-TERM INVESTMENTS (IDENTIFIED COST $17,450) 17,450 ---------------------------------------------------------------------------- TOTAL INVESTMENTS--113.4% (IDENTIFIED COST $113,558) 131,686(a) Other assets and liabilities, net--(13.4)% (15,549) -------- NET ASSETS--100.0% $116,137 ======== (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $23,097 and gross depreciation of $5,203 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $113,792. (b) Non-income producing. (c) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted in the header, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. (d) All or a portion of security is on loan. (e) Represents security purchased with cash collateral received for securities on loan. (f) The rate shown is the discount rate. (g) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2007, these securities amounted to a value of $240 (reported in 000's) or 0.2% of net assets. (h) Illiquid. Security valued at fair value as determined in good faith by or under the direction of the Trustees. At December 31, 2007, this security amounted to a value of $4 (reported in 000's) or 0.0% of net assets. (i) Amount is less than $1,000. 9
N-Q96th “Page” of 101TOC1stPreviousNextBottomJust 96th
Phoenix Growth Opportunities Fund SCHEDULE OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) VALUE SHARES (000) ------------ --------- DOMESTIC COMMON STOCKS--89.8% AGRICULTURAL PRODUCTS--1.0% Bunge Ltd. 4,420 $ 515 ------- APPAREL RETAIL--1.0% Guess?, Inc. 13,830 524 ------- APPAREL, ACCESSORIES & LUXURY GOODS--1.1% Under Armour, Inc. Class A 13,050 570 ------- APPLICATION SOFTWARE--2.0% Citrix Systems, Inc.(b) 13,450 511 Salesforce.com, Inc.(b) 8,020 503 ------- 1,014 ------- AUTO PARTS & EQUIPMENT--1.1% Johnson Controls, Inc. 15,180 547 ------- BIOTECHNOLOGY--4.9% BioMarin Pharmaceutical, Inc.(b) 17,180 608 Genzyme Corp.(b) 8,270 616 Gilead Sciences, Inc.(b) 28,510 1,312 ------- 2,536 ------- CASINOS & GAMING--1.3% Las Vegas Sands Corp.(b) 6,455 665 ------- COMMUNICATIONS EQUIPMENT--5.2% Cisco Systems, Inc.(b) 64,460 1,745 Juniper Networks, Inc.(b) 29,250 971 ------- 2,716 ------- COMPUTER & ELECTRONICS RETAIL--1.0% GameStop Corp. Class A(b) 8,670 539 ------- COMPUTER HARDWARE--4.6% Apple, Inc.(b) 12,100 2,397 ------- CONSTRUCTION & ENGINEERING--1.0% Chicago Bridge & Iron Co. N.V. NY Registered Shares 8,670 524 ------- CONSTRUCTION & FARM MACHINERY & HEAVY TRUCKS--1.7% Deere & Co. 9,350 871 ------- DATA PROCESSING & OUTSOURCED SERVICES--1.1% MasterCard, Inc. Class A 2,745 591 ------- VALUE SHARES (000) ------------ --------- EDUCATION SERVICES--0.9% Apollo Group, Inc. Class A(b) 6,860 $ 481 ------- ELECTRICAL COMPONENTS & EQUIPMENT--5.3% Ametek, Inc. 14,840 695 First Solar, Inc.(b) 3,100 828 Roper Industries, Inc. 7,130 446 SunPower Corp. Class A(b) 5,960 777 ------- 2,746 ------- ENVIRONMENTAL & FACILITIES SERVICES--0.9% Stericycle, Inc.(b) 7,750 460 ------- FERTILIZERS & AGRICULTURAL CHEMICALS--3.8% Monsanto Co. 9,010 1,007 Mosaic Co. (The)(b) 10,050 948 ------- 1,955 ------- HEALTH CARE EQUIPMENT--3.6% Baxter International, Inc. 18,420 1,069 Intuitive Surgical, Inc.(b) 2,530 821 ------- 1,890 ------- HEALTH CARE SERVICES--3.4% Express Scripts, Inc.(b) 11,370 830 Medco Health Solutions, Inc.(b) 9,300 943 ------- 1,773 ------- HOME ENTERTAINMENT SOFTWARE--3.3% Activision, Inc.(b) 15,420 458 Electronic Arts, Inc.(b) 12,410 725 Nintendo Co., Ltd. (Japan)(c) 7,500 555 ------- 1,738 ------- INDUSTRIAL CONGLOMERATES--1.9% Textron, Inc. 13,830 986 ------- INDUSTRIAL MACHINERY--0.9% Flowserve Corp. 4,650 447 ------- INSURANCE BROKERS--1.6% AON Corp. 17,800 849 ------- INTERNET RETAIL--2.1% Amazon.com, Inc.(b) 11,720 1,086 ------- 1
N-Q97th “Page” of 101TOC1stPreviousNextBottomJust 97th
Phoenix Growth Opportunities Fund VALUE SHARES (000) ------------ --------- INTERNET SOFTWARE & SERVICES--5.4% Google, Inc. Class A(b) 3,315 $ 2,292 VeriSign, Inc.(b) 14,330 539 ------- 2,831 ------- INVESTMENT BANKING & BROKERAGE--1.7% Goldman Sachs Group, Inc. (The) 4,170 897 ------- LIFE SCIENCES TOOLS & SERVICES--4.1% Charles River Laboratories International, Inc.(b) 10,700 704 Thermo Fisher Scientific, Inc.(b) 16,900 975 Waters Corp.(b) 6,000 474 ------- 2,153 ------- OIL & GAS EQUIPMENT & SERVICES--0.9% Acergy SA (United Kingdom)(c) 21,500 472 ------- PHARMACEUTICALS--1.5% Allergan, Inc. 11,830 760 ------- RESTAURANTS--0.9% Yum! Brands, Inc. 11,650 446 ------- SEMICONDUCTOR EQUIPMENT--3.4% Applied Materials, Inc. 36,420 647 MEMC Electronic Materials, Inc.(b) 6,490 574 Varian Semiconductor Equipment Associates, Inc.(b) 14,430 534 ------- 1,755 ------- SEMICONDUCTORS--5.0% Intel Corp. 97,150 2,590 ------- SOFT DRINKS--2.4% Coca-Cola Co. (The) 20,730 1,272 ------- SPECIALIZED FINANCE--3.5% CME Group, Inc. 1,400 960 IntercontinentalExchange, Inc.(b) 4,530 872 ------- 1,832 ------- SYSTEMS SOFTWARE--6.3% Microsoft Corp. 82,640 2,942 VALUE SHARES (000) ------------ --------- SYSTEMS SOFTWARE--(CONTINUED) VMware, Inc. Class A(b) 4,050 $ 344 ------- 3,286 ------- ---------------------------------------------------------------------------- TOTAL DOMESTIC COMMON STOCKS (IDENTIFIED COST $39,551) 46,714 ---------------------------------------------------------------------------- FOREIGN COMMON STOCKS(c)--7.9% COMMUNICATIONS EQUIPMENT--1.4% Nokia Oyj Sponsored ADR (Finland) 19,570 751 ------- COMPUTER STORAGE & PERIPHERALS--1.1% Seagate Technology (Singapore) 22,020 562 ------- HEAVY ELECTRICAL EQUIPMENT--1.6% ABB Ltd. Sponsored ADR (Switzerland) 29,940 862 ------- INTEGRATED OIL & GAS--1.3% Petroleo Brasileiro SA ADR (Brazil) 5,700 657 ------- PHARMACEUTICALS--1.2% Shire Pharmaceuticals Group plc ADR (United Kingdom) 9,140 630 ------- WIRELESS TELECOMMUNICATION SERVICES--1.3% Vimpel-Communications Sponsored ADR (Russia) 15,860 660 ------- ---------------------------------------------------------------------------- TOTAL FOREIGN COMMON STOCKS (IDENTIFIED COST $3,561) 4,122 ---------------------------------------------------------------------------- TOTAL LONG TERM INVESTMENTS--97.7% (IDENTIFIED COST $43,112) 50,836 ------- TOTAL INVESTMENTS--97.7% (IDENTIFIED COST $43,112) 50,836(a) Other assets and liabilities, net--2.3% 1,221 ------- NET ASSETS--100.0% $52,057 ======= (a) Federal Income Tax Information (reported in 000's): Net unrealized appreciation of investment securities is comprised of gross appreciation of $8,059 and gross depreciation of $570 for federal income tax purposes. At December 31, 2007, the aggregate cost of securities for federal income tax purposes was $43,347. (b) Non-income producing. (c) A security is considered to be foreign if the security is issued in a foreign country. The country of risk, noted parenthetically, is determined based on criteria described in Note 1B "Foreign Security Country Determination" in the Notes to Schedules of Investments. 2
N-Q98th “Page” of 101TOC1stPreviousNextBottomJust 98th
PHOENIX OPPORTUNITIES TRUST NOTES TO SCHEDULES OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) NOTE 1--SIGNIFICANT ACCOUNTING POLICIES: The following is a summary of significant accounting policies consistently followed by the Phoenix Opportunities Trust in the preparation of the Schedules of Investments. The preparation of the Schedules of Investments in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and contingent assets and liabilities at the date of the Schedules of Investments. Actual results could differ from those estimates. A. SECURITY VALUATION: Equity securities are valued at the official closing price (typically last sale) on the exchange on which the securities are primarily traded, or if no closing price is available, at the last bid price. Debt securities are valued on the basis of broker quotations or valuations provided by a pricing service, which utilizes information with respect to recent sales, market transactions in comparable securities, quotations from dealers, and various relationships between securities in determining value. As required, some securities and assets may be valued at fair value as determined in good faith by or under the direction of the Trustees. Certain foreign common stocks may be fair valued in cases where closing prices are not readily available or are deemed not reflective of readily available market prices. For example, significant events (such as movement in the U.S. securities market, or other regional and local developments) may occur between the time that foreign markets close (where the security is principally traded) and the time that the Fund calculates its net asset value (generally, the close of the NYSE) that may impact the value of securities traded in these foreign markets. In these cases, information from an external vendor may be utilized to adjust closing market prices of certain foreign common stocks to reflect their fair value. Because the frequency of significant events is not predictable, fair valuation of certain foreign common stocks may occur on a frequent basis. Certain securities held by the Funds were valued on the basis of a price provided by a principal market maker. The prices provided by the principal market maker may differ from the value that would be realized if the securities were sold. At December 31, 2007, the total value of these securities represented approximately 5.1% and 3.5%, respectively, of the net assets of the Multi-Sector Fixed Income Fund and the Multi-Sector Short Term Bond Fund. Short-term investments having a remaining maturity of 60 days or less are valued at amortized cost, which approximates market. In September 2006, Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("SFAS 157"), was issued and is effective for fiscal years beginning after November 15, 2007. SFAS 157 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. Management is currently evaluating the impact the adoption of SFAS 157 will have on the Funds' financial statement disclosures. B. FOREIGN SECURITY COUNTRY DETERMINATION A combination of the following criteria is used to assign the countries of risk listed in the schedules of investments: country of incorporation, actual building address, primary exchange on which the security is traded and country in which the greatest percentage of company revenue is generated.
N-Q99th “Page” of 101TOC1stPreviousNextBottomJust 99th
PHOENIX OPPORTUNITIES TRUST NOTES TO SCHEDULES OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) NOTE 2--ILLIQUID AND RESTRICTED SECURITIES Investments shall be considered illiquid if they cannot be disposed of within seven days in the ordinary course of business at the approximate amount at which such securities have been valued by the Fund. Additionally, the following information is also considered in determining liquidity: the frequency of trades and quotes for the investment, whether the investment is listed for trading on a recognized domestic exchange and/or whether two or more brokers are willing to purchase or sell the security at a comparable price, the extent of market making activity in the investment and the nature of the market for investment. Illiquid securities are footnoted as such at the end of each Fund's Schedule of Investments where applicable. Restricted securities are illiquid securities, as defined above, not registered under the Securities Act of 1933. Generally, 144A securities are excluded from this category, except where defined as illiquid. At December 31, 2007, the Funds held the following restricted securities (reported in 000's): [Enlarge/Download Table] Market % of Acquisition Acquisition Value at Net Assets Date Cost 12/31/07 at 12/31/07 --------------------------------------------------------------- Market Neutral Fund Telefonica Moviles S.A. 12/20/01 $0 $0 0.0% Telefonica Data Argentina S.A. 12/20/01 0 0 0.0% Core Bond Fund Greenwich Structured ARM Products 05-5A, N2 144A 8.240%, 9/27/45 2/28/06 $314 $299 0.5% MASTR Resecuritization Trust 03-10, 3A1 144A 7.865%, 4/26/45 1/12/06 170 83 0.1% High Yield Fund CB Cambridge Industries Liquidating Trust Interests 0%, 12/24/05 12/24/01 $ 369 $ 6 0.0% Poland Telecom Finance BV Series B 14%, 12/1/07 11/24/97 5,000 62 0.1% ACG Holdings, Inc. 12/4/93 358 0 0.0%
N-Q100th “Page” of 101TOC1stPreviousNextBottomJust 100th
PHOENIX OPPORTUNITIES TRUST NOTES TO SCHEDULES OF INVESTMENTS DECEMBER 31, 2007 (UNAUDITED) [Download Table] Multi-Sector Fixed Income Fund MASTR Alternative Net Interest Margin Trust 06-6, N1 144A 5.865%, 9/26/46 8/3/06 $ 296 $ 6 0.0% Northampton Pulp LLC 12/30/99 349 0 0.0% Multi-Sector Short Term Bond Fund Home Equity Asset Trust 06-7, A 144A 6.000%, 2/25/37 10/11/06 $4,538 $ 127 0.0% MASTR Alternative Net Interest Margin Trust 06-6, N1 144A 5.865%, 9/26/46 8/3/06 4,024 98 0.0% MASTR Alternative Net Interest Margin Trust 05-CW1A, N1 144A 6.750%, 12/26/35 11/18/05 671 577 0.0% MASTR Resecuritization Trust 05-4CI, N2 144A 7.865%, 4/26/45 1/12/06 3,250 1,593 0.1% The Funds will bear any costs, including those involved in registration under the Securities Act of 1933, in connection with the disposition of such securities. NOTE 3--SUBSEQUENT EVENTS On January 10, 2008, the Phoenix Market Neutral Fund replaced its current subadviser with The Boston Company Asset Management, LLC. On February 7, 2008, Phoenix Companies, Inc. ("PNX") announced that it intends to spin off its asset management subsidiary, Phoenix Investment Partners, Ltd., to PNX's shareholders. Phoenix Investment Counsel, Inc., the adviser to the Phoenix Funds and Phoenix Equity Planning Corporation, the Phoenix Funds' administrator, distributor and transfer agent are also intended to be a part of the spin-off. Goodwin Capital Advisers, Inc., subadviser to certain Funds in the Trust, is not a part of the spin-off and will remain a subsidiary of PNX and is expected to continue as subadviser to the Funds. On November 15, 2007, the Board of Trustees of the Trust approved the reorganization of Phoenix Growth Opportunities Fund (the "Predecessor Fund"), into a newly created fund named Phoenix Growth Opportunities Fund (the "Successor Fund"), a series of Phoenix Equity Trust. The reorganization is expected to be complete on or about March 10, 2008. The Successor Fund's principal investment strategies, risks, fees and expenses, and portfolio team will be the same as those of the Predecessor Fund. The reorganization is a result of an effort to consolidate the number of trusts operating within the Phoenix Funds family. Other information regarding the Funds is available in the Funds' most recent Report to Shareholders. ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) 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. Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.
N-QLast “Page” of 101TOC1stPreviousNextBottomJust 101st
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) Phoenix Opportunities Trust ------------------------------------------------------------------- By (Signature and Title)* /s/ George R. Aylward ------------------------------------------------------- George R. Aylward, President (principal executive officer) Date February 27, 2008 ---------------------------------------------------------------------------- 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. By (Signature and Title)* /s/ George R. Aylward ------------------------------------------------------- George R. Aylward, President (principal executive officer) Date February 27, 2008 ---------------------------------------------------------------------------- By (Signature and Title)* /s/ W. Patrick Bradley ------------------------------------------------------- W. Patrick Bradley, Chief Financial Officer and Treasurer (principal financial officer) Date February 27, 2008 ---------------------------------------------------------------------------- * Print the name and title of each signing officer under his or her signature.

Dates Referenced Herein   and   Documents Incorporated by Reference

Referenced-On Page
This ‘N-Q’ Filing    Date First  Last      Other Filings
3/10/08100497
Filed on / Effective on:2/29/08
2/27/08101
2/7/08100
1/18/0843
1/10/08100497
For Period End:12/31/071100
11/15/0798100
 List all Filings 
Top
Filing Submission 0000935069-08-000494   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Copyright © 2024 Fran Finnegan & Company LLC – All Rights Reserved.
AboutPrivacyRedactionsHelp — Thu., Mar. 28, 1:43:58.3pm ET