|
The
Mexico Equity and Income Fund, Inc.
|
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|
Schedule
of Investments
|
October
31, 2006 (Unaudited)
|
||
|
MEXICO
- 100.07%
|
Shares
|
Value
|
|
|
COMMON
STOCKS - 99.17%
|
|||
|
Airlines
- 1.70%
|
|||
|
Grupo
Aeroportuario del Pacifico, S.A. de C.V. - Class B (a)
|
275,500
|
$
|
1,040,531
|
|
Grupo
Aeroportuario del Sureste, S.A. de C.V. - Class B
|
189,400
|
719,392
|
|
|
1,759,923
|
|||
|
Cement
- 7.41%
|
|||
|
Cemex,
S.A. de C.V. CPO
|
1,270,718
|
3,916,754
|
|
|
Corporacion
Moctezuma, S.A. de C.V.
|
500,000
|
1,162,261
|
|
|
Grupo
Cementos de Chihuahua, S.A. de C.V.
|
650,000
|
2,598,815
|
|
|
7,677,830
|
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|
Communications
- 15.72%
|
|||
|
America
Movil, S.A. de C.V. - Class L
|
860,600
|
1,845,246
|
|
|
America
Movil, S.A. de C.V. - Class L - ADR
|
60,070
|
2,575,201
|
|
|
America
Telecom, S.A. de C.V. - Class A1 (a)
|
1,370,000
|
10,419,995
|
|
|
Axtel,
S.A. de C.V. CPO (a)
|
675,003
|
1,443,534
|
|
|
16,283,976
|
|||
|
Financial
Groups - 4.73%
|
|||
|
Grupo
Financiero Banorte, S.A. de C.V. - Class O
|
1,360,400
|
4,900,268
|
|
|
Food,
Beverage & Tobacco - 7.15%
|
|||
|
Alsea,
S.A. de C.V. - Class A
|
858,190
|
4,117,435
|
|
|
Gruma,
S.A. de C.V.
|
266,800
|
875,450
|
|
|
Grupo
Bimbo, S.A. de C.V. - Class A
|
66,000
|
264,309
|
|
|
Grupo
Continental, S.A.
|
1,050,700
|
2,149,290
|
|
|
7,406,484
|
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|
Housing
- 13.09%
|
|||
|
Consorcio
ARA, S.A. de C.V.
|
155,300
|
879,969
|
|
|
Corporacion
GEO, S.A. de C.V. (a)
|
1,084,900
|
5,016,511
|
|
|
SARE
Holding, S.A. de C.V. (a)
|
2,524,106
|
3,022,853
|
|
|
Urbi,
Desarrollos Urbanos, S.A. de C.V. (a)
|
1,512,400
|
4,634,976
|
|
|
13,554,309
|
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|
Industrial
Conglomerates - 14.07%
|
|||
|
Alfa,
S.A. - Class A
|
286,800
|
1,597,082
|
|
|
Grupe,
S.A. de C.V. (a)
|
456,500
|
585,752
|
|
|
Grupo
IMSA, S.A. de C.V. UBC (a)
|
633,200
|
2,731,823
|
|
|
Grupo
Carso, S.A. - Class A1
|
189,000
|
633,521
|
|
|
Industrias
CH, S.A. - Class B (a)
|
1,340,100
|
5,204,695
|
|
|
Mexichem,
S.A. de C.V.
|
2,634,200
|
3,823,361
|
|
|
14,576,234
|
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|
Infrastructure
- 19.76%
|
|
||
|
Carso
Infraestructura y Construccion, S.A. (a)
|
3,440,100
|
2,594,093
|
|
|
Empresas
ICA Sociedad Conroladora, S.A. de C.V. (a)
|
1,687,950
|
5,791,347
|
|
|
Impulosra
del Desarrollo y el Empleo en America Latina, S.A. de C.V.
(a)
|
1,246,400
|
1,240,038
|
|
|
Grupo
Mexicano de Desarrollo, S.A. (a)
|
978,200
|
2,392,087
|
|
|
Promotora
y Operadora de Infraestructura, S.A. de C.V. (a)
|
5,346,000
|
8,450,288
|
|
|
20,467,853
|
|||
|
Insrance
- 0.03%
|
|||
|
Qualitas
Compania de Seguros, S.A. de C.V. (a)
|
107,700
|
30,042
|
|
|
Media
- 5.41%
|
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|
Grupo
Televisa, S.A. CPO
|
716,200
|
3,542,076
|
|
|
Grupo
Televisa, S.A. - GDR
|
83,400
|
2,058,312
|
|
|
5,600,388
|
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|
Schedule
of Investments (continued)
|
October
31, 2006 (Unaudited)
|
||
|
COMMON
STOCKS - 99.17%
|
Shares
|
Value
|
|
|
Retailing
- 10.10%
|
|||
|
Grupo
Elektra, S.A. de C.V.
|
252,900
|
2,682,811
|
|
|
Wal-Mart
de Mexico, S.A. de C.V. - Class V (a)
|
2,231,454
|
7,774,371
|
|
|
10,457,182
|
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TOTAL
COMMON STOCKS (Cost $71,473,150)
|
102,714,489
|
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|
CORPORATE
BONDS - 0.61%
|
Titles
|
||
|
TVACB-04,
10.0100%, 12/15/2011 (b)
|
11,265,000
|
633,249
|
|
|
|
|||
|
TOTAL
CORPORATE BONDS (Cost $1,000,000)
|
633,249
|
||
|
INVESTMENT
COMPANIES - 0.29%
|
Shares
|
||
|
GBM
Fondo de Mercado de Dinero, S.A. de C.V., SIID para Personas
Fisicas
(a)
|
128,047
|
299,296
|
|
|
TOTAL
INVESTMENT COMPANIES (Cost $297,878)
|
299,296
|
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|
TOTAL
MEXICO (Cost $71,771,028)
|
103,647,034
|
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|
UNITED
STATES - 0.07%
|
|||
|
INVESTMENT
COMPANIES - 0.07%
|
|||
|
First
American Treasury Obligations Fund - Class A, 4.5672%
|
73,297
|
73,297
|
|
|
TOTAL
INVESTMENT COMPANIES (Cost $73,297)
|
73,297
|
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|
TOTAL
UNITED STATES (Cost $73,297)
|
73,297
|
||
|
Total
Investments (Cost $72,844,325) - 100.14%
|
103,720,331
|
||
|
Liabilities
in Excess of Other Assets - (0.14)%
|
(150,078)
|
||
|
TOTAL
NET ASSETS - 100.00%
|
$
|
103,570,253
|
|
|
ADR
- American Depository Receipts.
|
||||||
|
GDR
- Global Depository Receipts.
|
||||||
|
(a)
Non-income producing security.
|
||||||
|
(b)
Fair valued security.
|
||||||
| The cost basis of investments for federal income tax purposes at October 31, 2006 was as follows: | ||||||
|
Cost
of investments*
|
$72,959,227
|
|||||
|
Gross
unrealized appreciation
|
31,349,034
|
|||||
|
Gross
unrealized depreciation
|
(515,879)
|
|||||
|
Net
unrealized appreciation
|
$30,833,155
|
|||||
|
*Because
tax adjustments are calculated annually, the above table reflects
the tax
adjustments outstanding at the Fund's previous
|
||||||
|
fiscal
year end. For the previous fiscal year's federal income tax information,
please refer to the Notes to Financial Statements
|
||||||
|
section
in the Fund's most recent semi-annual or annual report.
|
| (a) |
The
Registrant’s President/Chief Executive Officer and Treasurer/Chief
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 (the “1940 Act”)) are effective as of a date within 90
days of the filing date of the report that includes the disclosure
required by this paragraph, based on the evaluation of these controls
and
procedures required by Rule 30a-3(b) under the 1940 Act and
Rules 15d-15(b) under the Securities Exchange Act of 1934, as
amended.
|
| (b) |
There
were no changes in the Registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act) 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.
|