TAIWAN
GREATER CHINA FUND
|
||||||||
Schedule
of Investments (Unaudited) / September 30, 2005
|
||||||||
COMMON
STOCKS —
99.05%
|
%
of
|
U.S.
Dollar
|
||||||
Automobile
— 1.48%
|
Net
Assets
|
Value
|
||||||
399,030
|
shs.
|
China
Motor Corp.
|
0.33
|
$
339,094
|
||||
101,000
|
Hotai
Motor Co., Ltd.
|
0.25
|
264,792
|
|||||
169,528
|
Tong
Yang Industry Co., Ltd.
|
0.20
|
203,324
|
|||||
316,960
|
TYC
Brother Industrial Co., Ltd.
|
0.18
|
192,462
|
|||||
18,073
|
Yulon
Motor Co., Ltd.
|
0.02
|
18,081
|
|||||
135,000
|
Yulon
Nissan Motor Co., Ltd.
|
0.50
|
524,793
|
|||||
1,542,546
|
||||||||
Cement
— 2.00%
|
||||||||
1,511,297
|
Asia
Cement Corporation
|
0.81
|
842,532
|
|||||
1,977,454
|
Taiwan
Cement Corp.
|
1.19
|
1,248,404
|
|||||
2,090,936
|
||||||||
Chemicals
— 0.49%
|
||||||||
869,000
|
Eternal
Chemical Co., Ltd.
|
0.49
|
510,645
|
|||||
Communications
Equipment — 2.09%
|
||||||||
976,522
|
D-Link
Corp.
|
0.97
|
1,012,291
|
|||||
563,673
|
Zyxel
Communications Corp.
|
1.12
|
1,172,036
|
|||||
2,184,327
|
||||||||
Computer
Peripherals/ODM — 9.27%
|
||||||||
2,955,337
|
BenQ
Corp.
|
2.46
|
2,564,863
|
|||||
74,400
|
High
Tech Computer Corp.
|
0.87
|
906,893
|
|||||
3,198,006
|
Lite-on
Technology Corp.
|
3.42
|
3,570,526
|
|||||
1,175,000
|
Mitac
International Corp.
|
1.71
|
1,784,568
|
|||||
575,976
|
Premier
Image Technology Corp.
|
0.81
|
845,275
|
|||||
9,672,125
|
||||||||
Computer
Systems & Hardware —
20.00%
|
||||||||
775,162
|
Acer
Inc.
|
1.48
|
1,541,705
|
|||||
114,578
|
Advantech
Co., Ltd..
|
0.27
|
286,579
|
|||||
2,173,600
|
Asustek
Computer Inc.
|
5.59
|
5,829,541
|
|||||
1,048,364
|
Compal
Electronics Inc.
|
0.99
|
1,034,637
|
|||||
9,447
|
Giga-Byte
Technology Co., Ltd.
|
0.01
|
8,839
|
|||||
2,346,602
|
Hon
Hai Precision Industry Co., Ltd.
|
10.47
|
10,925,282
|
|||||
23,000
|
Inventec
Corp.
|
0.01
|
11,159
|
|||||
748,380
|
Quanta
Computer Inc.
|
1.18
|
1,226,834
|
|||||
20,864,576
|
||||||||
Electrical
& Machinery — 1.46%
|
||||||||
5,115,837
|
Walsin
Lihwa Corp.
|
1.46
|
1,518,510
|
|||||
Electronic
Components — 8.99%
|
||||||||
221,363
|
Career
Technology (MFG.) Co., Ltd.
|
0.26
|
265,493
|
|||||
148,725
|
Catcher
Technology Co., Ltd.
|
1.03
|
1,077,864
|
|||||
439,368
|
Delta
Electronics Inc.
|
0.72
|
750,717
|
|||||
589,600
|
Foxconn
Technology Co., Ltd.
|
2.37
|
2,469,659
|
|||||
106,470
|
Largan
Precision Co., Ltd.
|
0.91
|
952,902
|
|||||
101,909
|
Merry
Electronics Co., Ltd.
|
0.24
|
248,750
|
|||||
259,616
|
Tripod
Technology Corp.
|
0.52
|
544,510
|
|||||
1,239,000
|
Wintek
Corp.
|
1.91
|
1,993,780
|
|||||
21,209
|
Wus
Printed Circuit Co., Ltd.
|
0.01
|
7,254
|
|||||
3,141,000
|
*
|
Yageo
Corp.
|
1.02
|
1,064,842
|
||||
9,375,771
|
||||||||
TAIWAN
GREATER CHINA FUND
|
||||||||
Schedule
of Investments (Unaudited) / September 30, 2005
|
||||||||
Electronics
— 0.04%
|
||||||||
33,000
|
shs.
|
Synnex
Technology International Corp.
|
0.04
|
$
42,612
|
||||
Flat-Panel
Displays — 9.18%
|
||||||||
5,008,260
|
AU
Optronics Corp.
|
6.22
|
6,489,632
|
|||||
1,469,322
|
Chi
Mei Optoelectronics Corp.
|
1.55
|
1,622,765
|
|||||
3,944,951
|
Chunghwa
Picture Tubes, Ltd.
|
1.09
|
1,135,298
|
|||||
906,795
|
Quanta
Display Inc.
|
0.32
|
329,277
|
|||||
9,576,972
|
||||||||
Food
— 1.48%
|
||||||||
3,829,000
|
Uni-President
Enterprise Corp.
|
1.48
|
1,540,392
|
|||||
Glass,
Paper & Pulp — 0.48%
|
||||||||
421,476
|
Taiwan
Glass Ind. Corporation
|
0.30
|
312,444
|
|||||
522,225
|
Yuen
Foong Yu Paper Manufacturing Co., Ltd.
|
0.18
|
184,123
|
|||||
496,567
|
||||||||
Plastics
— 9.94%
|
||||||||
3,002,252
|
Formosa
Chemicals & Fiber Corp.
|
4.34
|
4,532,623
|
|||||
1,916,198
|
Formosa
Plastics Corp.
|
2.69
|
2,806,347
|
|||||
2,306,475
|
Nan
Ya Plastics Corp.
|
2.66
|
2,776,708
|
|||||
543,420
|
Taiwan
Styrene Monomer Corp.
|
0.25
|
257,099
|
|||||
10,372,777
|
||||||||
Retailing
— 0.41%
|
||||||||
227,512
|
President
Chain Store Corp.
|
0.41
|
425,070
|
|||||
Rubber
— 1.31%
|
||||||||
1,669,608
|
Cheng
Shin Rubber Ind. Co., Ltd.
|
1.31
|
1,360,964
|
|||||
Semiconductors
—
16.79%
|
||||||||
1,443,304
|
Advanced
Semiconductor Engineering, Inc.
|
0.93
|
974,250
|
|||||
208,000
|
MediaTek
Inc.
|
1.88
|
1,961,880
|
|||||
106,007
|
Novatek
Microelectronics Corp.
|
0.44
|
463,199
|
|||||
845,000
|
Powerchip
Semiconductor Corp.
|
0.45
|
471,078
|
|||||
714,959
|
Siliconware
Precision Industries Co., Ltd.
|
0.69
|
721,756
|
|||||
179,069
|
Sunplus
Technology Co., Ltd.
|
0.16
|
164,043
|
|||||
4,856,832
|
Taiwan
Semiconductor Manufacturing Co., Ltd.
|
7.48
|
7,800,905
|
|||||
7,730,011
|
United
Microelectronics Corp.
|
4.76
|
4,961,631
|
|||||
17,518,742
|
||||||||
Steel
& Other Metals — 5.81%
|
||||||||
6,085,323
|
China
Steel Corp.
|
5.20
|
5,428,003
|
|||||
1,521,550
|
Yieh
Phui Enterprise Co., Ltd.
|
0.61
|
630,454
|
|||||
6,058,457
|
||||||||
Textiles
— 0.51%
|
||||||||
873,996
|
Far
Eastern Textile Ltd.
|
0.51
|
528,066
|
|||||
Transportation
— 2.72%
|
||||||||
813,947
|
China
Airlines Ltd.
|
0.36
|
375,277
|
|||||
688,287
|
Eva
Airways Corp.
|
0.26
|
272,747
|
|||||
1,284,380
|
Evergreen
Marine Corp. (Taiwan) Ltd.
|
0.80
|
830,205
|
|||||
475,248
|
Wan
Hai Lines Ltd.
|
0.33
|
348,010
|
|||||
1,604,227
|
Yang
Ming Marine Transport Corp.
|
0.97
|
1,015,196
|
|||||
2,841,435
|
||||||||
TAIWAN
GREATER CHINA FUND
|
||||||||
Schedule
of Investments (Unaudited) / September 30, 2005
|
||||||||
Other
— 4.60%
|
||||||||
963,000
|
shs.
|
Giant
Manufacturing Co., Ltd.
|
1.55
|
$
1,619,292
|
||||
602,000
|
Great
China Metal Industry Co., Ltd.
|
0.24
|
248,532
|
|||||
84,000
|
Johnson
Health Tech Co., Ltd.
|
0.30
|
308,819
|
|||||
372,000
|
Merida
Industry Co., Ltd.
|
0.24
|
250,545
|
|||||
226,864
|
Nien
Made Enterprise Co., Ltd.
|
0.24
|
251,923
|
|||||
2,573,193
|
Pou
Chen Corp.
|
1.60
|
1,667,153
|
|||||
282,800
|
Taiwan
Fu Hsing Industrial Co., Ltd.
|
0.30
|
312,333
|
|||||
262,533
|
Taiwan
Hon Chuan Enterprise Co., Ltd.
|
0.13
|
138,448
|
|||||
4,797,045
|
||||||||
TOTAL
COMMON STOCK (COST $104,081,068)
|
103,318,535
|
|||||||
SHORT-TERM
SECURITIES —
0.10%
|
||||||||
Time
Deposit —
0.10%
|
||||||||
Citibank,
3.3100%, Due 10/03/05
|
0.10
|
110,097
|
||||||
TOTAL
INVESTMENTS IN SECURITIES AT MARKET VALUE
|
99.15
|
103,428,632
|
||||||
(COST
$104,191,165)
|
||||||||
OTHER
ASSETS (LESS LIABILITIES)
|
0.85
|
882,698
|
||||||
NET
ASSETS
|
100.00
|
$
104,311,330
|
||||||
At
September 30, 2005, the cost of investments, excluding short-term
investments, for U.S. federal income tax purposes was approximately
equal
to the cost of such investments for financial reporting purposes.
At
September 30, 2005, the unrealized depreciation of $762,533 for financial
reporting purposes consisted of $10,818,940 of gross unrealized
appreciation and $11,581,473 of gross unrealized
depreciation.
|
||||||||
*
Non-income producing: This stock did not pay a cash dividend over
the past
year.
|