UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number 811-4632
Germany Fund, Inc.
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(Exact name of registrant as specified in charter)
Two International Place
Boston, MA 02110
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(Address of principal executive offices) (Zip code)
Salvatore Schiavone
Two International Place
Boston, Massachusetts 02110
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(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 295-2663
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Date of fiscal year end: 12/31
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Date of reporting period: 9/30/04
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Form N-Q is to be used by registered 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 270.30b1-4). 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, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS
THE GERMANY FUND, INC.
SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2004 (unaudited)
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Shares Description Value
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INVESTMENTS IN GERMAN SECURITIES--93.4%
COMMON STOCKS--91.8%
ACCIDENT & HEALTH
INSURANCE--4.8%
57,000 Allianz . . . . . . . . . . . . . . . . . . . . . $ 5,735,601
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AIR TRANSPORTATION,
SCHEDULED--2.0%
200,000 Deutsche Lufthansa* . . . . . . . . . . . . . . . 2,325,446
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COURIER SERVICES EXCEPT BY
AIR--1.6%
100,000 Deutsche Post . . . . . . . . . . . . . . . . . . 1,939,527
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ELECTRIC & OTHER SERVICES
COMBINED--13.8%
163,000 E.ON . . . . . . . . . . . . . . . . . . . . . . 12,014,642
90,000 RWE . . . . . . . . . . . . . . . . . . . . . . . 4,297,485
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16,312,127
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FIRE, MARINE & CASUALTY
INSURANCE--2.0%
25,000 Munchener Ruckversicherungs . . . . . . . . . . . 2,406,105
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FOOTWEAR, EXCEPT
RUBBER--2.3%
20,000 Adidas Salomon . . . . . . . . . . . . . . . . . 2,788,302
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INDUSTRIAL GASES--1.0%
20,000 Linde* . . . . . . . . . . . . . . . . . . . . . 1,151,555
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MORTGAGE BANKERS--0.9%
30,000 Hypo Real Estate Holding . . . . . . . . . . . . 1,027,465
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MOTOR VEHICLES & CAR
BODIES--9.0%
75,000 Bayerische Motoren Werke . . . . . . . . . . . . 3,080,534
130,000 DaimlerChrysler . . . . . . . . . . . . . . . . . 5,355,725
30,000 MAN . . . . . . . . . . . . . . . . . . . . . . . 1,024,859
30,000 Volkswagen . . . . . . . . . . . . . . . . . . . 1,153,665
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10,614,783
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NATIONAL COMMERCIAL
BANKS--3.6%
70,000 Bayerische Hypothekenbank
Und Vereinsbank* . . . . . . . . . . . . 1,342,902
160,000 Commerzbank* . . . . . . . . . . . . . . . . . . 2,972,204
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4,315,106
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PHARMACEUTICAL
PREPARATIONS--4.1%
20,000 Altana . . . . . . . . . . . . . . . . . . . . . $ 1,162,723
20,000 Merck KGaA . . . . . . . . . . . . . . . . . . . 1,142,621
40,000 Schering . . . . . . . . . . . . . . . . . . . . 2,523,991
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4,829,335
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PLASTICS MATERIAL, SYNTHETIC
RESINS & NONVULCAN
ELASTOMERS--9.4%
190,000 BASF . . . . . . . . . . . . . . . . . . . . . . 11,187,334
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PLASTICS PRODUCTS--3.5%
150,000 Bayer . . . . . . . . . . . . . . . . . . . . . . 4,098,693
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SECURITY & COMMODITY
EXCHANGES--1.0%
24,000 Deutsche Boerse . . . . . . . . . . . . . . . . . 1,212,707
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SEMICONDUCTORS & RELATED
DEVICES--1.3%
150,000 Infineon Technologies* . . . . . . . . . . . . . 1,530,030
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SERVICES-MISC HEALTH & ALLIED
SERVICES--1.0%
15,000 Fresenius Medical Care . . . . . . . . . . . . . 1,147,708
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SERVICES-PREPACKAGED
SOFTWARE--6.1%
47,000 SAP . . . . . . . . . . . . . . . . . . . . . . . 7,296,120
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STEEL WORKS--1.6%
100,000 Thyssen Krupp . . . . . . . . . . . . . . . . . . 1,946,972
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TELEPHONE & TELEGRAPH
APPARATUS--12.4%
200,000 Siemens . . . . . . . . . . . . . . . . . . . . . 14,694,738
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TELEPHONE COMMUNICATIONS
(NO RADIOTELEPHONE)--6.3%
400,000 Deutsche Telekom* . . . . . . . . . . . . . . . . 7,415,618
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TIRES & INNER TUBES--2.1%
45,000 Continental . . . . . . . . . . . . . . . . . . . 2,444,139
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TOUR OPERATORS--0.5%
30,000 TUI . . . . . . . . . . . . . . . . . . . . . . . 561,755
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WHOLESALE-GROCERIES AND
RELATED PRODUCTS--1.5%
40,000 Metro . . . . . . . . . . . . . . . . . . . . . . 1,783,421
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Total Common Stocks
(cost $88,205,918) . . . . . . . . . . . . . . . 108,764,587
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PREFERRED STOCKS--1.6%
MOTOR VEHICLES & CAR
BODIES--1.6%
20,000 Bayerische Motoren Werke* . . . . . . . . . . . . $ 580,493
2,000 Porsche Pref . . . . . . . . . . . . . . . . . . 1,298,403
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1,878,896
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Total Preferred Stocks
(cost $1,706,556) . . . . . . . . . . . . 1,878,896
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Total Investments in
German Securities
(cost $89,912,474) . . . . . . . . . . . 110,643,483
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INVESTMENTS IN DUTCH COMMON
STOCK--1.1%
INSURANCE AGENTS, BROKERS &
SERVICES--1.1%
50,000 ING Groep
(Cost $1,155,163) . . . . . . . . . . . . 1,260,754
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INVESTMENTS IN FRENCH COMMON
STOCKS--1.6%
COMBINATION UTILITIES--0.7%
40,000 Suez SA . . . . . . . . . . . . . . . . . . . . . 856,717
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PETROLEUM REFINING--0.9%
5,000 Total SA . . . . . . . . . . . . . . . . . . . . 1,017,538
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Total Investments in French
Common Stocks
(cost $1,886,752) . . . . . . . . . . . . 1,874,255
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INVESTMENTS IN SWISS COMMON STOCKS--
2.3%
ELECTRICAL DISTRIBUTION--1.3%
250,000 Abb Ltd* . . . . . . . . . . . . . . . . . . . . 1,524,976
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NATIONAL COMMERCIAL BANKS--
1.0%
18,000 United Bank of Switzerland . . . . . . . . . . . 1,266,571
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Total Investments in Swiss Common Stocks
(cost $2,645,352) . . . . . . . . . . . . 2,791,547
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INVESTMENTS IN SPANISH COMMON
STOCK--0.8%
TELEPHONE COMMUNICATIONS
(NO RADIOTELEPHONE)--0.8%
60,000 Telefonica
(Cost $911,965) . . . . . . . . . . . . . $ 897,171
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Total Investments--99.2%
(cost $96,511,706) . . . . . . . . . . . $117,467,210
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Cash and other assets in
excess of liabilities--0.8% . . . . . . . 1,000,119
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NET ASSETS--100.0% . . . . . . . . . . . . . . . $118,467,329
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NUMBER OF SHARES
OUTSTANDING . . . . . . . . . . . . . . . 15,060,392
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NET ASSET VALUE
PER SHARE . . . . . . . . . . . . . . . . $ 7.87
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For information on the Fund's policies regarding the valuation of investments
and other significant accounting policies, please refer to the Fund's most
recent semi-annual or annual financial statements.
*Non-income producing security.
The accompanying notes are an integral part of the financial statements.
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: The Germany Fund
By: /s/Julian Sluyters
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Julian Sluyters
Chief Executive Officer
Date: November 19, 2004
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.
Registrant: The Germany Fund
By: /s/Julian Sluyters
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Julian Sluyters
Chief Executive Officer
Date: November 19, 2004
By: /s/Paul Schubert
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Paul Schubert
Chief Financial Officer
Date: November 19, 2004