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As Of Filer Filing For·On·As Docs:Size 4/29/21 Volumetric Fund Inc. N-Q 3/31/21 2:438K → Volumetric Fund ⇒ VOLMX |
Document/Exhibit Description Pages Size 1: N-Q 1st Quarter Report HTML 31K 2: EX-99.CERT Certification -- §302 - SOA'02 HTML 12K
| To our shareholders: |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGSOF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act File Number 811-4643
VOLUMETRIC FUND, INC.
(Exact name of registrant as specified in charter)
87 Violet Drive
Pearl River, New York 10965
(Address of principal executive offices)-(Zip code)
Irene Zawitkowski
Chief Executive Officer
VOLUMETRIC FUND, INC.
87 Violet Drive
Pearl River, New York 10965
(Name and address of agent for service)
Registrant's telephone number, including area code: (845) 623-7637
Date of fiscal year end: December 31, 2021
Date of reporting period: March 31, 2021
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5, 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 Secretary, Securities and Exchange Commission, 450 Fifth Street, N.W., Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
ITEM 1. SCHEDULE OF INVESTMENTS
Volumetric Fund, Inc.
A Conservative Equity Growth Fund
First Quarter
Report 2021
IMPORTANT INFORMATION ABOUT ACCESS TO SHAREHOLDER REPORTS
Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of Volumetric Fund’s (the “Fund”) shareholder reports like this one will no longer be sent by mail, unless you specifically request paper copies of the reports from the Fund. Instead, the reports will be made available on our website, and you will be notified by mail each time a report is posted and provided with a website link to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications from the Fund electronically by contacting the Fund at 800-541-3863 or info@volumetric.com.
However, you may elect to receive all future reports in paper free of charge. You can inform the Fund that you wish to continue receiving paper copies of your shareholder reports and other communications by contacting the Fund at 800-541-3863 or info@volumetric.com.
To our Shareholders:
We at Volumetric Fund hope this report finds you and your family in good health as the Covid 19 situation evolves. As you are aware the Fund is operating as usual, just a phone call or email away. You may also visit the Fund’s website at volumetric.com.
Volumetric Fund’s net asset value (“NAV”) per share has advanced 5.27% in the first quarter of 2021. Overall, as of March 31, 2021, the Fund’s NAV has advanced $1.23, from $23.32 on December 31, 2020 to $24.55, as of March 31, 2021. At the end of the first quarter, the cash and money market positions, were 14.8%, equities were 85.3% and net receivables/payables were -0.1%.
The Volumetric Index, which measures the value of a $10,000 hypothetical investment in Volumetric Fund since its inception on January 1, 1979, with all dividends and distributions reinvested, is at $427,105 as of March 31, 2021.
PORTFOLIO REVIEW (Unaudited)
At the end of the first quarter, we had 58 securities in our portfolio. The average security had an unrealized gain of 76.9%. Our portfolio contained 54 gainers and 4 losers. As of March 31, our best percentage gainer was Autodesk Inc. with a 362.2% gain. Our worst performer was Hologic Inc with a 10.3% loss.
Our investment activity during the first quarter, included 5 stock purchases, 4 stock sales and 3 stocks trimmed, as indicated below:
Purchases: American International Group, Hologic Inc., Snap-On Inc., UnitedHealthcare Group Inc., and Whirlpool Corp.
Sales: Atmos Energy Corp., Merck & Co., Metlife Inc., and Take Two Interactive Software Inc. Also, positions in FMC Corp, Autodesk Inc, and Costco Wholesale Corp. were trimmed during the first quarter.
Our most profitable sale of a stock, on a percentage basis, was Autodesk Inc. (half of the position sold), with a 362.15% gain. Conversely, our worst performing sale of a stock, on a percentage basis, was Merck & Co. with a 5.87% loss.
TOP STOCK GAINERS (Unaudited)
As of March 31, 2021, our ten greatest unrealized stock percentage gainers are listed below. See “Statement of Net Assets” on page 3 for details.
Stock Name | Unrealized Gain (%) | % of Fund's Net Assets |
Autodesk Inc | 362.2% | 1.0% |
HP Inc | 341.5% | 1.1% |
Microsoft Corp | 310.5% | 1.5% |
Applied Materials Inc | 241.0% | 3.2% |
Amazon.com Inc | 222.7% | 1.9% |
FMC Corp | 208.2% | 1.0% |
Apple Inc | 180.9% | 2.0% |
Visa Inc Class A | 152.4% | 2.1% |
Ametek Inc | 151.4% | 2.0% |
Expeditors Int'l of Washington Inc | 149.1% | 1.7% |
ANNUAL MEETING
The Fund’s Annual Shareholder Meeting and proxy voting will be held May 14, 2021. Considering shareholder’s health, transportation, and other logistical issues raised by the spread of coronavirus disease (COVID-19), the Annual Shareholder Meeting will be held as a virtual meeting via telephone. The call-in information to attend the meeting virtually, will be provided in your proxy materials. Shareholder’s proxy statements will be mailed to all shareholders in April. As usual, please vote and return the voting proxy to Volumetric Fund, Inc.
At the meeting, as described in the Proxy Statement that you will receive, you will be asked to elect eight directors, ratify the appointment of BBD, LLP, as the independent registered public accounting firm, of the Fund for calendar year 2021, and authorize available shares of the Fund to 4,000,000 common shares. We will also review Volumetric Fund’s year to date performance.
PRIVACY POLICY
Volumetric Fund, Inc. and its affiliate Volumetric Advisers, Inc. have always worked hard to maintain the highest standard of confidentiality and to respect the privacy of its shareholders and clients. The non-public personal information collected about you comes primarily from the account applications or other forms you submit to Volumetric Fund, Inc.
We do not market or disclose information about you to anyone, except as permitted by law. For example, this may include disclosing information according to your express consent to fulfill your instructions, such as in a mortgage application, or to comply with applicable laws and regulations.
We limit information about you to those of our employees who are involved in servicing your account and outside companies that are used to service and maintain your account. We maintain physical, electronic, and procedural safeguards that are designed to comply with federal standards to guard the information. If our relationship ends, we will continue to treat the information as described in this Privacy Policy notice.
This notice complies with Federal law and SEC regulations regarding privacy. If you have any questions or concerns, please contact us at Volumetric Fund, Inc.
UPDATE AND OTHER NEWS
We are pleased to announce that as of this writing, April 15, 2021, Volumetric Fund’s NAV stood at $25.40, up 8.92% since the beginning of the year. This means that the NAV of $25.40, is at a record all-time high, as adjusted for dividends and capital gain distributions.
We are also excited to announce the onboarding of Ultimus Fund Solutions, as Volumetric Fund’s transfer agent and fund accountant and Ultimus Fund Distributors, as the distributor of the Fund. These new enhancements allow for “Online Account Access” for all shareholders. With our new online access, you can view your current and past balances, make electronic investments, select between electronic or mail delivery for statements and trade confirmations, and much more. Please go to volumetric.com and click the “Sign In” button on the home page to setup and access your account.
With the onboarding of Ultimus Fund Solutions, effective February 22, 2021, the First National Bank of Omaha (“FNBO”) acts as the custodian of IRA and various other retirement accounts that invest in the Fund. As in the past, Volumetric
Advisers, Inc. has paid the custodian’s fees on behalf of existing shareholder. Closing account and other possible fees charged by the custodian are generally the responsibility of the shareholder.
Thank you for your continued trust and confidence. If you are interested in obtaining our prospectus and general information about the Fund, please visit our website, www.volumetric.com. Also, do not hesitate to call us at 800-541-FUND, if you have any questions.
April 15, 2021
Chair & CEOPresident
Volumetric Fund, Inc.
87 Violet Drive
845-623-7637
800-541-FUND
Ticker: VOLMX
Investment Adviser
Volumetric Advisers, Inc.
Custodian
U.S. Bank N.A.
Independent Registered Public
Accounting Firm
BBD, LLP
Philadelphia, Pennsylvania 19103
Transfer Agent and Fund Accountant
Ultimus Fund Solutions, LLC
Distributor
Ultimus Fund Distributors, LLC
Board of Directors
Jeffrey M. Gibs
Josef Haupl
Alexandre M. Olbrecht, PhD
Cornelius O’Sullivan
Stephen J. Samitt
Allan A. Samuels
David L. Seidenberg
Raymond W. Sheridan
Irene J. Zawitkowski, Chair
Officers
Gabriel J. Gibs
Chair Emeritus
Irene J. Zawitkowski
Chair, CEO, Senior Portfolio Manager
Jeffrey M. Gibs
President, Portfolio Manager, CCO
Valuation of Securities: Investments in securities traded on a national securities exchange (or reported on the NASDAQ national market) are valued at the closing price on the day of valuation. If a market quote is not available, the Fund will value the security at fair market value as determined in good faith by Volumetric Advisers, Inc., as directed by the Board of Directors.
GAAP establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires certain disclosures about fair value measurements. Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
·Level 1 – quoted prices in active markets for identical securities
·Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.)
·Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining fair value of investments)
The inputs or methodology used for valuing securities are not necessarily indications of the risk associated with investing in those securities.
As of March 31, 2021, all of the securities held by the Fund were valued using Level 1 inputs. See the Fund’s Statement of Net Assets for a listing of securities valued using Level 1 inputs by security type and industry type, as required by GAAP. There were no transfers among Levels 1, 2 and 3 for quarter ending March 31, 2021. Transfers are recognized at the end of the reporting periods.
ITEM 2.CONTROLS AND PROCEDURES.
(a)The registrant’s principal executive officer and principal financial officer 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”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.
(b)There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.
ITEM 3.EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act,
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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.
Volumetric Fund, Inc.
By /s/ Irene Zawitkowski April 30, 2021
------------------------------------------ ----------------------------
Irene Zawitkowski, CEO Date
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 /s/ Irene Zawitkowski April 30, 2021
------------------------------------------ ----------------------------
Irene Zawitkowski, CEO Date
By /s/ Jeffrey Gibs April 30, 2021
------------------------------------------ ----------------------------
Jeffrey Gibs, President Date
| This ‘N-Q’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| 12/31/21 | 24F-2NT, N-CEN, N-CSR, NPORT-P | |||
| 5/14/21 | ||||
| 4/30/21 | 485BPOS, 497K | |||
| Filed on / Effective on: | 4/29/21 | |||
| 4/15/21 | ||||
| For Period end: | 3/31/21 | NPORT-P, NPORT-P/A | ||
| 2/22/21 | ||||
| 1/1/21 | ||||
| 12/31/20 | 24F-2NT, N-CEN, N-CEN/A, N-CSR, NPORT-P, NPORT-P/A | |||
| List all Filings | ||||