UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
_______________________________
Investment Company Act file number 811-4632
European Equity Fund, Inc.
(Exact name of registrant as specified in charter)
Two International Place
Boston, MA 02110
(Address of principal executive offices) (Zip code)
Paul Schubert
345 Park Avenue
New York, NY 10154
(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 454-7190
Date of fiscal year end: 12/31
Date of reporting period: 09/30/06
Form N-Q is to be used by registered management investment companies, other than small business investment companies registered on Form N-5 (§§ 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. § 3507.
ITEM 1. SCHEDULE OF INVESTMENTS
Document: 06-20694-1.da
Page: 6
THE EUROPEAN EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS — SEPTEMBER 30, 2006 (unaudited)
|
Shares |
Description |
Value |
|
INVESTMENTS IN GERMAN SECURITIES – 22.4% |
|
|
COMMON STOCKS – 21.4% |
|
|
AUTOMOBILES – 2.1% |
|
59,000 |
DaimlerChrysler AG |
$2,947,178 |
|
|
CHEMICALS – 1.0% |
|
17,200 |
K + S |
1,377,823 |
|
|
CONSTRUCTION MATERIALS – 1.0% |
|
40,000 |
Demag Crones AG |
1,368,900 |
|
|
ELECTRIC UTILITIES – 1.9% |
|
22,000 |
E.ON AG |
2,606,690 |
|
|
ELECTRONIC EQUIPMENT & INSTRUMENTS – 1.8% |
|
17,000 |
Wincor Nixdorf |
2,470,421 |
|
|
INDUSTRIAL CONGLOMERATES – 1.8% |
|
28,100 |
Siemens AG |
2,450,432 |
|
|
INDUSTRIAL GASES – 2.0% |
|
29,000 |
Linde AG |
2,730,715 |
|
|
PHARMACEUTICALS – 1.7% |
|
22,000 |
Merck KGAA |
2,331,744 |
|
|
REAL ESTATE – 2.8% |
|
62,500 |
Hypo Real Estate Holding |
3,897,563 |
|
|
SOFTWARE – 2.8% |
|
20,000 |
SAP AG |
3,964,740 |
|
|
TEXTILES, APPAREL & LUXURY GOODS – 2.5% |
|
73,400 |
Adidas Salomon AG |
3,451,580 |
|
|
Total Common Stocks (cost $18,183,411) |
29,597,786 |
|
|
PREFERRED STOCKS – 1.0% |
|
|
HEALTHCARE PROVIDERS & SERVICES – 1.0% |
|
8,000 |
Fresenius AG (Cost $783,785) |
1,427,002 |
Total Investments in German Securities (cost $18,967,196) 31,024,788
|
Shares |
Description |
Value |
|
INVESTMENTS IN AUSTRIAN COMMON STOCKS – 3.1% |
|
|
COMMERCIAL BANKS — 1.0% |
|
21,750 |
Wiener Staedt Vers. |
$1,364,622 |
|
|
CONSTRUCTION MATERIALS – 1.0% |
|
28,300 |
Wienerberger AG |
1,334,732 |
|
|
INSURANCE – 1.1% |
|
50,000 |
Uniqa Versicherungen AG† |
1,584,375 |
Total Investments in Austrian Common Stocks (cost $3,789,263) 4,283,729
|
INVESTMENTS IN DUTCH COMMON STOCKS – 1.0% |
|
|
FOOD & STAPLES RETAILING – 1.0% |
|
30,169 |
Koninklijke Numico NV* (Cost $1,266,180) |
|
|
1,357,492 |
|
INVESTMENTS IN FRENCH COMMON STOCKS – 31.8% |
|
|
AIRLINES – 1.7% |
|
40,000 |
Zodiac SA* |
2,371,746 |
|
|
BEVERAGES – 2.4% |
|
15,800 |
Pernod-Ricard |
3,286,349 |
|
|
CONSTRUCTION MATERIALS – 2.6% |
|
50,000 |
Compagnie De Saint-Gobain |
3,625,050 |
|
|
ENERGY EQUIPMENT & SERVICES – 1.0% |
|
8,000 |
Cie Fen de Geophysiq† |
1,229,982 |
|
|
INDUSTRIAL CONGLOMERATES – 1.7% |
|
20,000 |
Neopost SA |
2,385,435 |
|
|
INSURANCE – 4.5% |
|
138,100 |
Axa |
5,090,214 |
|
12,000 |
CNP Assurances |
1,163,565 |
|
|
6,253,779 |
Page: 7
THE EUROPEAN EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS — SEPTEMBER 30, 2006 (unaudited) (continued)
|
Shares |
Description |
Value |
|
|
METALS & MINING – 2.3% |
|
13,500 |
Vallourec |
$3,146,759 |
|
|
NATIONAL COMMERCIAL BANKS – 4.6% |
|
40,000 |
Societe Generale |
6,362,850 |
|
|
OIL, GAS & CONSUMABLE FUELS – 4.2% |
|
89,600 |
Total SA |
5,877,144 |
|
|
PHARMACEUTICALS – 3.7% |
|
58,000 |
Sanofi-Aventis |
5,160,753 |
|
|
SPECIALTY RETAIL – 1.5% |
|
20,700 |
Essilor International |
2,118,658 |
|
|
TEXTILES, APPAREL & LUXURY GOODS – 1.6% |
|
22,000 |
LVMH Moet Hennessy Loui V Sa |
2,265,656 |
Total Investments in French Common Stocks (cost $38,592,527) 44,084,161
|
INVESTMENTS IN SWEDISH COMMON STOCKS – 1.9% |
|
|
COMMUNICATIONS EQUIPMENT – 1.9% |
|
740,000 |
Ericsson (Cost $2,455,165) |
2,566,883 |
|
INVESTMENTS IN ITALIAN COMMON STOCKS – 11.5% |
|
|
COMMERCIAL BANKS – 7.9% |
|
630,000 |
Banca Intesa SPA |
4,144,345 |
|
60,000 |
Banca Italease |
2,958,345 |
|
468,000 |
Capitalia SPA |
3,876,497 |
|
|
10,979,187 |
|
|
DIVERSIFIED FINANCIAL SERVICES – 1.0% |
|
190,000 |
Mediolanum SPA† |
1,411,235 |
|
|
ENERGY EQUIPMENT & SERVICES – 1.0% |
|
59,000 |
Saipem |
1,281,024 |
|
|
HEALTHCARE PROVIDERS & SERVICES – 1.0% |
|
170,000 |
Amplifon SPA |
1,335,945 |
|
Shares |
Description |
Value |
|
|
INSURANCE – 0.6% |
|
150,000 |
Ergo Previdenza SPA† |
$880,279 |
Total Investments in Italian Common Stocks (cost $10,870,261) 15,887,670
|
INVESTMENTS IN SWISS COMMON STOCKS – 4.2% |
|
|
DIVERSIFIED CONSUMER SERVICES – 1.7% |
|
2,400 |
SGS SA |
2,411,492 |
|
|
NATIONAL COMMERCIAL BANKS – 1.4% |
|
34,000 |
Credit Suisse Group |
1,963,208 |
|
|
TEXTILES, APPAREL & LUXURY GOODS – 1.1% |
|
30,000 |
Cie Finance Richemont |
1,441,341 |
Total Investments in Swiss Common Stocks (cost $5,259,844) 5,816,041
|
INVESTMENTS IN FINNISH COMMON STOCKS – 4.1% |
|
|
ELECTRIC UTILITIES – 1.3% |
|
66,000 |
Fortum OYJ |
1,757,592 |
|
|
MACHINERY – 1.5% |
|
57,000 |
METSO OYJ |
2,096,622 |
|
|
PAPER MILLS – 1.3% |
|
75,000 |
UPM-Kymene OYJ |
1,781,471 |
Total Investments in Finnish Common Stocks (Cost $5,430,313) 5,635,685
Page: 8
THE EUROPEAN EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS — SEPTEMBER 30, 2006 (unaudited) (continued)
|
Shares |
Description |
Value |
|
INVESTMENTS IN SPANISH COMMON STOCKS — 4.5% |
|
|
COMMUNICATIONS EQUIPMENT – 1.4% |
|
90,000 |
Indra Sistemas SA |
$1,957,527 |
|
|
DIVERSIFIED TELECOMMUNICATIONS – 3.1% |
|
250,000 |
Telefonica S.A. |
4,331,681 |
Total Investments in Spanish Common Stocks (cost $5,872,126) 6,289,208
|
INVESTMENTS IN NORWEGIAN COMMON STOCKS – 1.9% |
|
|
OIL, GAS & CONSUMABLE FUELS – 1.9% |
|
114,000 |
Statoil ASA (cost $4,950,095) |
2,698,955 |
|
INVESTMENTS IN LUXEMBOURG COMMON STOCKS – 0.9% |
|
|
ENERGY EQUIPMENT & SERVICES – 0.9% |
|
71,000 |
Acergy SA (Cost $733,396) |
1,215,063 |
|
INVESTMENTS IN BELGIAN COMMON STOCKS – 1.6% |
|
|
METALS & MINING – 1.6% |
|
15,000 |
Umicore (Cost $1,828,962) |
2,218,759 |
|
INVESTMENTS IN GREEK COMMON STOCKS – 4.1% |
|
|
COMMERCIAL BANKS – 1.2% |
|
51,600 |
EFG Eurobank |
1,580,136 |
|
|
DIVERSIFIED FINANCIAL SERVICES – 1.0% |
|
85,000 |
Hellenic Exchanges SA |
1,346,718 |
|
Shares |
Description |
Value |
|
|
DIVERSIFIED TELECOMMUNICATION SERVICES – 1.9% |
110,000 Hellenic Telecommunications Organization SA*$2,696,480
Total Investments in Greek Common Stocks (cost $5,022,010) 5,623,334
|
INVESTMENTS IN IRISH COMMON STOCKS – 2.1% |
|
|
COMMERCIAL BANKS – 2.1% |
178,000 Anglo Irish Bank Corp PLC (Cost $2,488,406)2,923,970
|
INVESTMENTS IN UNITED KINGDOM COMMON STOCKS – 2.0% |
|
|
DIVERSIFIED FINANCIAL SERVICES – 0.9% |
|
100,000 |
Barclays PLC |
1,259,302 |
|
|
INSURANCE – 1.1% |
|
120,000 |
Prudential PLC |
1,487,620 |
Total Investments in United Kingdom Common Stocks – (cost $2,555,841)2,746,922
Total Investments in Common Stocks – (cost $110,081,585) 134,372,660
|
SECURITIES LENDING COLLATERAL – 3.6% |
15,637,163 Daily Assets Fund Institutional, 5.31%†† (cost $5,057,055)5,057,055
Total Investments – 101% (cost $115,138,640) 139,429,715
Liabilities in excess of cash and other assets – (0.01)% (849,797)
|
|
NET ASSETS–100.0% |
$138,579,918 |
|
* |
Non-income producing security. |
† All or a portion of these securities were on loan. The value of all securities loaned at September 30, 2006 amounted to $4,845,893 which is 3.5% of the net assets.
†† Represents collateral held in connection with securities lending Daily Assets Fund Institutional, an affiliated fund, is managed by Deutsche Asset Management, Inc. The rate shown is the annualized seven-day yield at period end.
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: |
European Equity Fund, Inc. |
|
By: |
/s/Michael G. Clark |
|
|
Michael G. Clark |
President
|
Date: |
November 21, 2006 |
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: |
European Equity Fund, Inc. |
|
By: |
/s/Michael G. Clark |
|
|
Michael G. Clark |
President
|
Date: |
November 21, 2006 |
|
By: |
/s/Paul Schubert |
|
|
Paul Schubert |
Chief Financial Officer and Treasurer
Date: November 21, 2006