UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-05189
THE SPAIN FUND, INC.
(Exact name of registrant as specified in charter)
1345 Avenue of the Americas, New York, New York 10105
(Address of principal executive offices) (Zip code)
Joseph J. Mantineo
AllianceBernstein L.P.
1345 Avenue of the Americas
New York, New York 10105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (800) 221-5672
Date of fiscal year end: November 30, 2007
Date of reporting period: August 31, 2007
| ITEM 1. | SCHEDULE OF INVESTMENTS. |
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The Spain Fund
Portfolio of Investments
August 31, 2007 (unaudited)
| Company |
Shares | U.S. $ Value | |||
| COMMON STOCKS - 96.5% |
|||||
| Utilities - 32.7% |
|||||
| Electric & Gas Utility - 16.1% |
|||||
| Enagas |
163,449 | $ | 3,720,600 | ||
| Gas Natural SDG SA |
42,270 | 2,253,581 | |||
| Iberdrola SA |
190,645 | 10,574,689 | |||
| Red Electrica de Espana |
60,804 | 2,738,583 | |||
| 19,287,453 | |||||
| Telephone Utility - 16.6% |
|||||
| Telefonica SA |
803,186 | 19,973,419 | |||
| 39,260,872 | |||||
| Finance - 27.0% |
|||||
| Banking - Money Center - 20.7% |
|||||
| Banco Bilbao Vizcaya Argentaria SA (a) |
719,461 | 16,626,174 | |||
| Banco Santander Central Hispano SA |
449,638 | 8,214,865 | |||
| 24,841,039 | |||||
| Banking - Regional - 4.5% |
|||||
| Banco Pastor SA |
161,349 | 3,000,612 | |||
| Banco Popular Espanol SA |
127,383 | 2,325,338 | |||
| 5,325,950 | |||||
| Insurance - 1.8% |
|||||
| Grupo Catalana Occidente SA |
64,112 | 2,191,048 | |||
| 32,358,037 | |||||
| Consumer Services - 8.7% |
|||||
| Apparel - 4.8% |
|||||
| Inditex SA |
98,703 | 5,794,730 | |||
| Broadcasting & Cable - 1.4% |
|||||
| Sogecable SA (b) |
44,189 | 1,675,460 | |||
| Miscellaneous - 2.5% |
|||||
| Prosegur Cia de Seguridad SA |
83,013 | 2,957,916 | |||
| 10,428,106 | |||||
| Health Care - 8.3% |
|||||
| Medical Services - 6.9% |
|||||
| Clinica Baviera SA (b) |
156,785 | 4,781,915 | |||
| Corp. Dermoestetica (b) |
291,862 | 3,481,170 | |||
| 8,263,085 | |||||
| Miscellaneous - 1.4% |
|||||
| Grifols SA |
83,864 | 1,756,246 | |||
| 10,019,331 | |||||
| Capital Goods - 6.2% |
|||||
| Engineering & Construction - 6.2% |
|||||
| Acciona SA |
9,930 | 2,492,012 | |||
| Fomento de Construcciones y Contratas SA |
17,379 | 1,516,262 | |||
| Obrascon Huarte Lain SA |
8,925 | 351,490 | |||
| Tecnicas Reunidas SA |
23,634 | 1,545,850 | |||
| Uralita SA |
168,178 | 1,510,414 | |||
| 7,416,028 | |||||
| Consumer Staples - 4.9% |
|||||
| Tobacco - 4.9% |
|||||
| Altadis SA |
88,204 | 5,855,654 | |||
| Energy - 4.1% |
|||||
| International - 4.1% |
|||||
| Repsol YPF SA |
138,126 | 4,977,284 | |||
| Technology - 3.8% |
|||||
| Computer Services - 3.8% |
|||||
| Indra Sistemas SA |
173,310 | 4,536,051 | |||
| Basic Industry - 0.5% |
|||||
| Mining & Metals - 0.5% |
|||||
| Tubacex SA |
67,966 | 583,296 | |||
| Aerospace & Defense - 0.3% |
|||||
| Defense Electronics - 0.3% |
|||||
| European Aeronautic Defence & Space Co., NV |
13,454 | 400,836 | |||
| Total Investments - 96.5% |
|||||
| (cost $69,637,779) |
115,835,495 | ||||
| Other assets less liabilities - 3.5% |
4,153,748 | ||||
| Net Assets - 100.0% |
$ | 119,989,243 | |||
| (a) | Security represents investments in an affiliate. |
| (b) | Non-income producing security. |
Please note: The sector classifications presented herein are based on the sector categorizations methodology of the Investment Manager.
| 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) are effective at the reasonable assurance level based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this document.
(b) There were no significant changes in the registrant’s internal control over financial reporting that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.
| ITEM 3. | EXHIBITS. |
The following exhibits are attached to this Form N-Q:
| EXHIBIT NO. |
DESCRIPTION OF EXHIBIT | |
| 11 (a) (1) |
Certification of Principal Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
| 11 (a) (2) |
Certification of Principal Financial Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 | |
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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.
| (Registrant): The Spain Fund, Inc. | ||
| By: | /s/ Marc O. Mayer | |
| Marc O. Mayer | ||
| President | ||
| Date: October 22, 2007 | ||
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/ Marc O. Mayer | |
| Marc O. Mayer | ||
| President | ||
| Date: October 22, 2007 | ||
| By: |
/s/ Joseph J. Mantineo | |
| Joseph J. Mantineo | ||
| Treasurer and Chief Financial Officer | ||
| Date: October 22, 2007 | ||
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