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 811-09261
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Foxby Corp.
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(Exact name of registrant as specified in charter)
11 Hanover Square, 12th Floor, New York, NY 10005
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(Address of principal executive offices) (Zip code)
Thomas B. Winmill, President
Foxby Corp.
11 Hanover Square, 12th Floor
New York, NY 10005
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(Name and address of agent for service)
Registrant's telephone number, including area code: 1-212-344-6310
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Date of fiscal year end: 12/31
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Date of reporting period: 03/31/05
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Item 1. Schedule of Investments
March 31, 2005 (Unaudited)
Common Stocks - 110.90% Shares Value
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Cable & other Pay Television Services - 3.85%
Comcast Corp. (a) 7,600 $ 256,728
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Converted Paper & Paperboard Products - 3.60%
3M Co. 2,800 239,932
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Crude Petroleum & Natural Gas - 4.06%
Burlington Resources, Inc. 5,400 270,378
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Fire, Marine & Casualty Insurance - 3.36%
PMA Capital Corp. - Class A (a) 28,000 224,000
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Gold & Silver Ores - 1.74%
Guinor Gold Corp. (a) 127,500 115,919
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Industrial & Commercial Fans & Blowers & Air Purifing Equipment - 3.58%
Donaldson Co., Inc. 7,400 238,872
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Insurance Agents, Brokers & Services - 3.67%
Brown & Brown, Inc. 5,300 244,277
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In Vitro & In Vivo Diagnostic Substances - 3.57%
IDEXX Laboratories, Inc. (a) 4,400 238,304
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Jewelry, Precious Metal - 2.88%
Dundee Precious Metals, Inc. (a) 29,000 191,751
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Malt Beverages - 3.82%
Molson Coors Brewing Comp. 3,300 254,661
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Mineral & Ores - 2.05%
Peru Copper, Inc. (a) 110,000 136,375
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Mining - 7.86%
Bolivar Gold Corp. (a) 40,000 85,131
Desert Sun Mining Corp. (a) 37,500 61,500
Gammon Lake Resources, Inc. (a) 35,000 205,800
Jaguar Mining, Inc. (a) 50,000 171,502
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523,933
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Miscellaneous Business Services - 3.18%
Safety Intelligence Systems Corp. (a) (b) 75,000 212,145
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National Commercial Banks - 9.82%
MBNA Corp. 8,600 211,130
U.S. Bancorp 7,700 221,914
Wells Fargo & Co. 3,700 221,260
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654,304
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Natural Gas Distribution - 1.97%
Metrogas, Inc. (c) 29,000 131,080
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Paints, Varnishes, Lacquers, Enamels & Allied Products - 3.28%
The Valspar Corp. 4,700 218,738
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Patent Owners & Lessors - 3.93%
SurModics, Inc. (a) 8,200 261,662
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Perfumes, Cosmetics & Other Toilet Preparations - 3.74%
Avon Products, Inc. 5,800 249,052
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Schedule of Investments - continued
March 31, 2005 (Unaudited)
Common Stocks - 110.90% - continued Shares Value
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Radio & TV Broadcasting & communications Equipment - 3.22%
NTT DoCoMo, Inc. (c) 12,800 $ 214,400
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Real Estate Investment Trusts - 3.76%
Prime Group Realty Trust (a) 35,000 250,600
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Retail - Department Stores - 4.94%
The Neiman Marcus Group, Inc. - Class A 3,600 329,436
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Retail - Drug Stores & Proprietary Stores - 4.07%
Walgreen Co. 6,100 270,962
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Retail - Jewelry Stores - 3.43%
Zale Corp. (a) 7,700 228,844
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Retail - Variety Stores - 3.30%
Target Corp. 4,400 220,088
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Semiconductors & Related Devices - 3.45%
Intel Corp. 9,900 229,977
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Soap, Detergents, Cleaning Preparations, Perfumes, Cosmetics - 3.50%
Procter & Gamble Co. 4,400 233,200
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State Commercial Banks - 3.21%
State Street Corp. 4,900 214,228
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Wholesale - Farm Product Raw Materials - 3.56%
Dimon Inc. 38,000 237,500
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Wholesale - Medical, Dental & Hospital Equipment & Supplies - 4.50%
Patterson Co. (a) 6,000 299,700
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TOTAL COMMON STOCKS (Cost $6,844,233) 7,391,046
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Schedule of Investments - continued
March 31, 2005 (Unaudited)
Warrants - 0.73%
Bolivar Gold Corp., 12/22/2009 20,000 14,216
Desert Sun Mining Corp., 11/20/2008 9,375 5,269
Jaguar Mining, 12/31/2007 25,000 16,530
Peru Copper Inc., 3/18/06 55,000 12,274
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TOTAL WARRANTS (Cost $0) 48,289
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TOTAL INVESTMENTS (Cost $6,844,233) - 111.63% $ 7,439,335
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Cash and other assets less liabilities - (11.63)% (774,901)
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TOTAL NET ASSETS - 100.00% $ 6,664,434
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(a) Non-income producing. (b) Security is not publicly traded. (c) American
Depositary Receipts.
Tax Related
Unrealized appreciation $ 673,227
Unrealized depreciation (78,125)
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Net unrealized depreciation $ 595,102
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Aggregate cost of securities for income tax purposes $ 6,844,232
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This schedule of investments provides information about the Fund's portfolio
holdings as of the date on the schedule. It is unaudited, and the Fund assumes
no obligation to update or supplement the schedule to reflect subsequent
changes. More information is available in the Fund's most recent annual or
semiannual shareholder report.
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Item 2. Controls and Procedures
(a) The 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) provide
reasonable assurances that material information relating to the registrant
is made known to them by the appropriate persons, based on their evaluation
of these controls and procedures as of a date within 90 days of the filing
date of this report.
(b) There were no significant changes in the registrant's internal control over
financial reporting (as defined in Rule 30a- 3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the registrant's last fiscal quarter
that has materially affected, or is reasonably likely to materially affect,
the registrant's internal control over financial reporting.
Item 3. Exhibits
(a) Certifications of principal executive and principal financial officers as
required by Rule 30a-2(a) under the Investment Company Act of 1940.
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.
FOXBY CORP.
By: /s/ Thomas B. Winmill
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Thomas B. Winmill, President
Date: May 31, 2005
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/ Thomas B. Winmill
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Thomas B. Winmill, President
Date: May 31, 2005
By: /s/ William G. Vohrer
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William G. Vohrer, Treasurer
Date: May 31, 2005
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EXHIBIT INDEX
(a) Certifications of principal executive and principal financial officers as
required by Rule 30a-2(a) under the Investment Company Act of 1940.
(EX-99.CERT)