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 811-02851
Van Kampen High Yield Fund
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(Exact name of registrant as specified in charter)
1221 Avenue of the Americas, New York, New York 10020
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(Address of principal executive offices) (Zip code)
Ronald Robison
1221 Avenue of the Americas, New York, New York 10020
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(Name and address of agent for service)
Registrant's telephone number, including area code: 212-762-4000
Date of fiscal year end: 8/31
Date of reporting period: 5/31/06
Item 1. Schedule of Investments.
The Fund's schedule of investments as of the close of the reporting period
prepared pursuant to Rule 12-12 of Regulation S-X is as follows:
VAN KAMPEN HIGH YIELD FUND
PORTFOLIO OF INVESTMENTS MAY 31, 2006 (UNAUDITED)
PAR
AMOUNT
(000) DESCRIPTION COUPON MATURITY VALUE
Corporate Bonds 95.7%
AEROSPACE 1.7%
$ 4,645 Hexcel Corp. 6.750% 02/01/15 $ 4,505,650
6,440 K & F Acquisition, Inc. 7.750 11/15/14 6,568,800
----------------
11,074,450
----------------
BROADCASTING 1.0%
3,740 Lin Television Corp. 6.500 05/15/13 3,487,550
1,645 Lin Television Corp., Ser B 6.500 05/15/13 1,533,962
1,185 Salem Communications Corp. 7.750 12/15/10 1,190,925
----------------
6,212,437
----------------
CABLE 6.4%
4,815 Cablecom Luxembourg SCA, 144A - Private
Placement (Euro) (Luxembourg) (a) 9.375 04/15/14 6,964,325
6,005 Cablevision Systems Corp. (Floating Rate Coupon) 9.620 04/01/09 6,410,337
1,839 CCH I, LLC 11.000 10/01/15 1,590,735
7,820 Echostar DBS Corp. 6.375 10/01/11 7,526,750
1,290 Echostar DBS Corp. 6.625 10/01/14 1,222,275
3,255 Intelsat Subsidiary Holding Co. Ltd. (Floating Rate
Coupon) (Bermuda) 9.614 01/15/12 3,316,031
460 Intelsat Subsidiary Holding Co. Ltd. (Bermuda) 8.250 01/15/13 464,025
4,315 Intelsat Subsidiary Holding Co. Ltd. (Bermuda) 8.625 01/15/15 4,390,512
655 NTL Cable Plc (United Kingdom) 8.750 04/15/14 661,550
898 PanAmSat Corp. 9.000 08/15/14 936,165
7,205 PanAmSat Holding Corp. (b) 0/10.375 11/01/14 5,277,662
2,295 Renaissance Media Group 10.000 04/15/08 2,300,737
----------------
41,061,104
----------------
CHEMICALS 6.4%
2,855 Cognis Deutschland GmbH & Co., 144A - Private
Placement (Euro) (Floating Rate Coupon) (Germany)(a) 7.816 11/15/13 3,768,151
4,950 Equistar Chemicals LP 10.125 09/01/08 5,296,500
620 Equistar Chemicals LP 10.625 05/01/11 674,250
952 Huntsman International LLC 10.125 07/01/09 973,420
4,000 Huntsman International LLC (Euro) 10.125 07/01/09 5,279,371
3,238 Innophos Investments Holdings, Inc. (Floating Rate Coupon) (c) 13.170 02/15/15 3,262,430
3,245 Innophos, Inc. 8.875 08/15/14 3,318,012
1,730 Koppers, Inc. 9.875 10/15/13 1,911,650
1,930 Millennium America, Inc. 9.250 06/15/08 2,009,612
2,775 Nalco Co. 7.750 11/15/11 2,795,812
3,960 Nalco Co. 8.875 11/15/13 4,093,650
2,268 Rockwood Specialties Group, Inc. 10.625 05/15/11 2,460,780
1,390 Rockwood Specialties Group, Inc., 144A - Private
Placement (Euro) (United Kingdom) (a) 7.625 11/15/14 1,830,129
2,940 Westlake Chemical Corp. 6.625 01/15/16 2,844,450
----------------
40,518,217
----------------
CONSUMER PRODUCTS 2.1%
8,210 Levi Strauss & Co. (Floating Rate Coupon) 9.740 04/01/12 8,528,137
2,295 Oxford Industrials, Inc. 8.875 06/01/11 2,363,850
2,632 Tempur Pedic, Inc. 10.250 08/15/10 2,803,080
----------------
13,695,067
----------------
DIVERSIFIED MEDIA 4.7%
1,155 Advanstar Communications, Inc. 10.750 08/15/10 1,253,175
2,840 AMC Entertainment, Inc. (Floating Rate Coupon) 9.420 08/15/10 2,946,500
6,187 CanWest Media, Inc. (Canada) 8.000 09/15/12 6,264,184
2,282 Dex Media East/Finance Corp., LLC 12.125 11/15/12 2,584,365
3,587 Dex Media West/Finance Corp., LLC, Ser B 9.875 08/15/13 3,927,765
3,290 Houghton Mifflin Co. 8.250 02/01/11 3,388,700
3,985 Houghton Mifflin Co. 9.875 02/01/13 4,224,100
1,525 Nebraska Book Co., Inc. 8.625 03/15/12 1,410,625
4,290 Quebecor World Cap Corp., 144A - Private Placement
(Canada) (a) 8.750 03/15/16 4,065,603
----------------
30,065,017
----------------
ENERGY 8.9%
4,925 Chaparral Energy, Inc., 144A - Private Placement (a) 8.500 12/01/15 5,011,187
6,870 CHC Helicopter Corp. (Canada) 7.375 05/01/14 6,766,950
2,325 Chesapeake Energy Corp. 6.375 06/15/15 2,202,937
3,200 Chesapeake Energy Corp. 6.625 01/15/16 3,080,000
5,320 Chesapeake Energy Corp. 7.500 09/15/13 5,466,300
1,645 Compagnie Generale de Geophysique SA (France) 7.500 05/15/15 1,661,450
5,120 El Paso Production Holding Co. 7.750 06/01/13 5,248,000
1,800 Hanover Compressor Co. 8.625 12/15/10 1,863,000
890 Hanover Compressor Co. 9.000 06/01/14 950,075
109 Hanover Equipment Trust, Ser A 8.500 09/01/08 111,452
3,042 Hanover Equipment Trust, Ser B 8.750 09/01/11 3,178,890
5,460 Hilcorp Energy/Finance Corp., 144A - Private Placement (a) 7.750 11/01/15 5,405,400
2,731 Hilcorp Energy/Finance Corp., 144A - Private Placement (a) 10.500 09/01/10 2,983,617
3,460 Husky Oil Ltd. (Variable Rate Coupon) (Canada) 8.900 08/15/28 3,671,569
1,863 Magnum Hunter Resources, Inc. 9.600 03/15/12 1,981,766
3,450 Pacific Energy Partners 7.125 06/15/14 3,458,625
4,020 Pogo Producing Co. 6.875 10/01/17 3,819,000
----------------
56,860,218
----------------
FINANCIAL 0.5%
3,395 Residential Capital Corp. 6.375 06/30/10 3,354,270
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FOOD & DRUG 2.9%
3,750 Albertson's, Inc. 7.250 05/01/13 3,660,019
1,450 Albertson's, Inc. 7.500 02/15/11 1,455,145
2,625 Delhaize America, Inc. 8.125 04/15/11 2,808,004
3,195 Jean Coutu Group (PJC), Inc. (Canada) 7.625 08/01/12 3,123,112
1,700 Jitney-Jungle Stores America, Inc. (d) (e) (f) 12.000 03/01/06 0
3,765 Kroger Co., 144A - Private Placement (a) 8.500 07/15/17 4,022,701
3,130 Rite Aid Corp. 8.125 05/01/10 3,169,125
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18,238,106
----------------
FOOD & TOBACCO 4.7%
3,125 Michael Foods, Inc. 8.000 11/15/13 3,132,812
4,720 Pilgrim's Pride Corp. 9.250 11/15/13 4,790,800
7,095 Pilgrim's Pride Corp. 9.625 09/15/11 7,467,487
7,685 RJ Reynolds Tobacco Holdings, Inc. 6.500 07/15/10 7,588,937
5,545 Smithfield Foods, Inc. 7.000 08/01/11 5,461,825
450 Smithfield Foods, Inc., Ser B 7.750 05/15/13 454,500
1,080 Smithfield Foods, Inc., Ser B 8.000 10/15/09 1,117,800
----------------
30,014,161
----------------
FOREST PRODUCTS 5.5%
2,575 Abitibi-Consolidated, Inc. (Canada) 6.000 06/20/13 2,188,750
3,815 Covalence Specialty Materials Corp., 144A - Private
Placement (a) 10.250 03/01/16 3,872,225
2,015 Crown Americas, 144A - Private Placement (a) 7.625 11/15/13 2,035,150
1,975 Crown European Holdings SA (Euro) (France) 6.250 09/01/11 2,695,266
3,840 Graham Packaging Co., Inc. 8.500 10/15/12 3,897,600
3,965 Graham Packaging Co., Inc. 9.875 10/15/14 4,064,125
4,870 Graphic Packaging International, Inc. 9.500 08/15/13 4,918,700
1,535 JSG Funding Plc (Euro) (Ireland) 10.125 10/01/12 2,183,315
130 Owens-Brockway Glass Containers, Inc. 8.875 02/15/09 134,875
2,100 Owens-Illinois, Inc. 7.350 05/15/08 2,105,250
5,540 Owens-Illinois, Inc. 7.500 05/15/10 5,540,000
1,085 P.H. Glatfelter, 144A - Private Placement (a) 7.125 05/01/16 1,085,000
----------------
34,720,256
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GAMING & LEISURE 6.4%
475 Ceasars Entertainment 7.000 04/15/13 490,011
993 Ceasars Entertainment 8.875 09/15/08 1,052,580
5,365 Host Marriott LP 6.375 03/15/15 5,136,988
4,240 Host Marriott LP 7.125 11/01/13 4,282,400
6,935 Isle of Capri Casinos, Inc. 7.000 03/01/14 6,761,625
5,440 Las Vegas Sands Corp. 6.375 02/15/15 5,140,800
9,470 MGM Mirage, Inc. 6.000 10/01/09 9,387,138
1,835 Starwood Hotels & Resorts Worldwide, Inc. 7.875 05/01/12 1,949,688
3,005 Station Casinos, Inc. 6.000 04/01/12 2,892,313
3,795 Station Casinos, Inc. 6.875 03/01/16 3,685,894
----------------
40,779,437
----------------
HEALTHCARE 7.6%
4,145 AmerisourceBergen Corp., 144A - Private Placement (a) 5.625 09/15/12 4,059,435
5,310 Community Health Systems, Inc. 6.500 12/15/12 5,117,513
3,275 DaVita, Inc. 6.625 03/15/13 3,164,469
3,375 Fisher Scientific International, Inc. 6.125 07/01/15 3,299,063
6,805 Fresenius Medical Care Capital Trust IV 7.875 06/15/11 7,094,213
3,750 HCA, Inc. 6.300 10/01/12 3,599,940
2,085 HCA, Inc. 8.700 02/10/10 2,216,491
940 HCA, Inc. 8.750 09/01/10 1,009,923
3,980 Medcath Holdings Corp. 9.875 07/15/12 4,069,550
3,680 Omnicare, Inc. 6.750 12/15/13 3,588,000
1,480 Tenet Healthcare Corp. 7.375 02/01/13 1,376,400
900 Tenet Healthcare Corp. 9.875 07/01/14 920,250
4,900 VWR International, Inc. 6.875 04/15/12 4,826,500
3,975 Warner Chilcott Corp. 8.750 02/01/15 3,984,938
----------------
48,326,685
----------------
HOUSING 2.7%
968 Goodman Global Holdings, Inc., Ser B (Floating Rate Coupon) 7.491 06/15/12 982,520
1,180 Interface, Inc. 7.300 04/01/08 1,209,500
4,465 Interface, Inc. 9.500 02/01/14 4,654,763
1,435 Interface, Inc. 10.375 02/01/10 1,583,881
5,130 Nortek, Inc. 8.500 09/01/14 5,181,300
1,870 Technical Olympic USA, Inc. 9.000 07/01/10 1,893,375
1,612 Technical Olympic USA, Inc. 10.375 07/01/12 1,644,240
----------------
17,149,579
----------------
INFORMATION TECHNOLOGY 1.9%
525 Iron Mountain, Inc. 6.625 01/01/16 490,875
2,300 Iron Mountain, Inc. 7.750 01/15/15 2,305,750
5,045 Iron Mountain, Inc. 8.625 04/01/13 5,208,963
3,540 Sungard Data Systems, Inc., 144A - Private
Placement (a) 9.125 08/15/13 3,730,275
320 Sungard Data Systems, Inc., 144A - Private
Placement (Floating Rate Coupon)(a) 9.431 08/15/13 338,400
----------------
12,074,263
----------------
MANUFACTURING 2.3%
2,185 General Cable Corp. 9.500 11/15/10 2,367,994
1,959 JohnsonDiversey, Inc. (Euro) (Luxembourg) 9.625 05/15/12 2,648,329
4,463 JohnsonDiversey, Inc., Ser B 9.625 05/15/12 4,529,945
2,574 Manitowoc Co., Inc. 10.500 08/01/12 2,818,530
2,100 Propex Fabrics, Inc. 10.000 12/01/12 1,984,500
----------------
14,349,298
----------------
METALS 4.0%
1,340 Foundation PA Coal Co. 7.250 08/01/14 1,353,400
6,170 Massey Energy Co., 144A - Private Placement (a) 6.875 12/15/13 5,954,050
8,550 Novelis, Inc., 144A - Private Placement (Canada) (a) 8.000 02/15/15 8,208,000
2,445 SGL Carbon Luxembourg SA, 144A - Private
Placement (Euro) (Luxembourg)(a) 8.500 02/01/12 3,422,830
5,992 UCAR Finance, Inc. 10.250 02/15/12 6,411,440
----------------
25,349,720
----------------
RETAIL 1.6%
3,110 Brown Shoe Co., Inc. 8.750 05/01/12 3,265,500
5,005 Linens 'n Things, Inc., 144A - Private Placement
(Floating Rate Coupon)(a) 10.702 01/15/14 4,854,850
2,020 Phillips Van-Heusen Corp. 7.250 02/15/11 2,030,100
----------------
10,150,450
----------------
SERVICES 3.1%
5,715 Allied Waste North America, Inc. 6.375 04/15/11 5,536,406
1,850 Allied Waste North America, Inc. 7.875 04/15/13 1,891,625
1,437 Allied Waste North America, Inc., Ser B 9.250 09/01/12 1,539,386
1,590 Buhrmann US, Inc. 7.875 03/01/15 1,597,950
3,580 Buhrmann US, Inc. 8.250 07/01/14 3,642,650
4,245 MSW Energy Holdings LLC, Ser B 7.375 09/01/10 4,287,450
985 MSW Energy Holdings/Finance 8.500 09/01/10 1,026,863
----------------
19,522,330
----------------
TELECOMMUNICATIONS 2.8%
4,186 Axtel SA (Mexico) 11.000 12/15/13 4,688,320
6,030 Exodus Communications, Inc. (d)(e)(f) 11.250 07/01/08 0
770 Exodus Communications, Inc. (d)(e)(f) 11.625 07/15/10 0
4,000 Exodus Communications, Inc. (Euro) (d)(e)(f) 11.375 07/15/08 0
8,250 GST Network Funding, Inc. (d) (e) (f) 10.500 05/01/08 825
1,320 Nordic Tel Co. Holdings, 144A - Private Placement
(Denmark) (a) 8.875 05/01/16 1,369,500
4,000 Park N View, Inc., Ser B (d)(e)(f) 13.000 05/15/08 0
4,405 Qwest Communications International, Inc. (Floating
Rate Coupon) 8.670 02/15/09 4,504,113
990 Qwest Corp. 5.625 11/15/08 977,625
1,100 TDC A S (Euro) (Denmark) 6.500 04/19/12 1,459,272
4,480 Wind Acquisition Finance SA, 144A - Private
Placement (Luxembourg)(a) 10.750 12/01/15 4,849,600
----------------
17,849,255
----------------
TRANSPORTATION 8.5%
6,725 Amsted Industries, Inc., 144A - Private Placement (a) 10.250 10/15/11 7,296,625
1,765 Arvinmeritor, Inc. 8.750 03/01/12 1,782,650
4,800 Ford Motor Co. 7.450 07/16/31 3,504,000
3,935 Ford Motor Credit Co. 5.625 10/01/08 3,609,804
4,450 General Motors Acceptance Corp. 4.375 12/10/07 4,216,237
6,220 General Motors Acceptance Corp. 6.875 09/15/11 5,849,493
1,690 General Motors Corp. 7.125 07/15/13 1,330,875
8,435 General Motors Corp. 8.375 07/15/33 6,442,231
5,720 Petro Stopping Centers, LP 9.000 02/15/12 5,777,200
8,425 Sonic Automotive, Inc., Ser B 8.625 08/15/13 8,551,375
5,471 TRW Automotive, Inc. 9.375 02/15/13 5,922,358
----------------
54,282,848
----------------
UTILITY 7.7%
925 AES Corp. 7.750 03/01/14 952,750
528 AES Corp. 8.875 02/15/11 564,300
740 AES Corp. 9.375 09/15/10 804,750
3,035 AES Corp., 144A - Private Placement (a) 9.000 05/15/15 3,300,563
5,930 CMS Energy Corp. 7.500 01/15/09 6,033,775
2,825 Colorado Interstate Gas Co., 144A - Private
Placement (a) 6.800 11/15/15 2,801,349
2,585 IPALCO Enterprises, Inc. 8.375 11/14/08 2,701,325
1,355 IPALCO Enterprises, Inc. 8.625 11/14/11 1,460,013
4,645 Monongahela Power Co. 5.000 10/01/06 4,634,530
2,945 Nevada Power Co., Ser A 8.250 06/01/11 3,194,209
2,515 Nevada Power Co., Ser G 9.000 08/15/13 2,761,510
995 Northwest Pipeline Corp. 8.125 03/01/10 1,049,725
5,695 Ormat Funding Corp. 8.250 12/30/20 5,894,339
4,030 PSEG Energy Holdings 8.625 02/15/08 4,171,050
1,955 Southern Natural Gas Co. 8.875 03/15/10 2,079,318
6,210 Williams Cos., Inc. 7.875 09/01/21 6,473,925
----------------
48,877,431
----------------
WIRELESS COMMUNICATIONS 2.3%
3,090 American Tower Corp. 7.125 10/15/12 3,174,975
3,085 American Tower Corp. 7.500 05/01/12 3,162,125
3,865 Rural Cellular Corp. (Floating Rate Coupon) 9.410 03/15/10 3,961,625
4,040 UbiquiTel Operating Co. 9.875 03/01/11 4,433,900
----------------
14,732,625
----------------
TOTAL CORPORATE BONDS 95.7% 609,257,224
----------------
FOREIGN CONVERTIBLE CORPORATE OBLIGATION 0.6%
3,980 Nortel Networks Corp. (Canada) 4.250 09/01/08 3,785,975
----------------
FOREIGN GOVERNMENT OBLIGATION 0.5%
32,575 Mexico (United Mexican States) (Peso) (Mexico) 10.000 12/05/24 3,018,852
----------------
DESCRIPTION VALUE
EQUITIES 0.2%
DecisionOne Corp. (10,890 Common Stock Warrants
Class A) (f)(g) 0
DecisionOne Corp. (18,765 Common Stock Warrants
Class B) (f)(g) 0
DecisionOne Corp. (11,130 Common Stock Warrants
Class C) (f)(g) 0
DecisionOne Corp. (19,895 Common Shares) (f)(g) 0
Doe Run Resources Corp. (29 Common Stock
Warrants) (f)(g) 146,515
HCI Direct, Inc. (106,250 Common Shares Class A) (f)(g) 1,275,000
HF Holdings, Inc. (36,820 Common Stock Warrants) (f)(g) 0
Hosiery Corp. of America, Inc., 144A - Private
Placement (1,000 Common Shares Class A) (a)(f)(g) 0
Jazztel, Plc, 144A - Private Placement (5,000
Common Stock Warrants) (Euro) (United Kingdom) (a)
(f)(g) 0
OpTel, Inc., 144A- Private Placement (3,275 Common
Shares) (a)(f)(g) 0
Park N View, Inc., 144A - Private Placement (4,000
Common Stock Warrants) (a)(f)(g) 0
Reunion Industries, Inc. (107,947 Common Stock
Warrants) (f)(g) 0
Ventelo, Inc., 144A - Private Placement (73,021
Common Shares) (Euro) (United Kingdom) (a)(f)(g) 0
Viatel Holding Bermuda Ltd. (7,852 Common Shares)
(Bermuda)(g) 550
VS Holdings, Inc. (946,962 Common Shares) (f) (g) 0
XO Holdings, Inc. (3,469 Common Shares) (g) 18,143
XO Holdings, Inc., Ser A (6,941 Common Stock Warrants) (g) 6,733
XO Holdings, Inc., Ser B (5,205 Common Stock Warrants) (g) 3,383
XO Holdings, Inc., Ser C (5,205 Common Stock Warrants) (g) 1,978
----------------
TOTAL EQUITIES 1,452,302
----------------
TOTAL LONG-TERM INVESTMENTS 97.0%
(Cost $653,224,404) 617,514,353
REPURCHASE AGREEMENT 2.3%
State Street Bank & Trust Co. ($14,935,000 par
collateralized by U.S. Government obligations
in a pooled cash account, interest rate of 4.89%,
dated 05/31/06, to be sold on 06/01/06 at $14,937,029)
(Cost $14,935,000) 14,935,000
----------------
TOTAL INVESTMENTS 99.3%
(Cost $668,159,404) 632,449,353
FOREIGN CURRENCY 0.0%
(Cost $74,386) 74,134
OTHER ASSETS IN EXCESS OF LIABILITIES 0.7% 4,394,882
----------------
NET ASSETS 100.0% $ 636,918,369
================
Percentages are calculated as a percentage of net assets.
(a) 144A securities are those which are exempt from
registration under Rule 144A of the Securities Act of
1933, as amended. These securities may only be
resold in transactions exempt from registration which
are normally those transactions with qualified
institutional buyers.
(b) Security is a "step-up" bond where the coupon
increases or steps up at a predetermined date.
(c) Payment-in-kind security.
(d) Non-income producing as security is in default.
(e) This borrower has filed for protection in federal
bankruptcy court.
(f) Market value is determined in accordance with
procedures established in good faith by the Board of
Trustees.
(g) Non-income producing security as this stock currently
does not declare dividends.
(Euro) Eurodollar
(Peso) Mexican Peso
FORWARD FOREIGN CURRENCY CONTRACTS OUTSTANDING AS OF MAY 31, 2006:
IN UNREALIZED
EXCHANGE CURRENT APPRECIATION/
FORWARD CONTRACTS FOR VALUE DEPRECIATION
--------------------------------------------------------------------------------------------------------------------------------
Short Contracts:
Euro Currency
11,073,000 expiring 6/27/06 US $ $ 14,214,358 $ (869,178)
11,420,000 expiring 6/27/06 US $ 14,659,800 (896,359)
1,126,000 expiring 6/27/06 US $ 1,445,441 (26,230)
-------------- --------------
$ 30,319,599 $ (1,791,767)
-------------- --------------
Item 2. Controls and Procedures.
(a) The Fund's principal executive officer and principal financial officer have
concluded that the Fund's disclosure controls and procedures are sufficient to
ensure that information required to be disclosed by the Fund in this Form N-Q
was recorded, processed, summarized and reported within the time periods
specified in the Securities and Exchange Commission's rules and forms, based
upon such officers' evaluation of these controls and procedures as of a date
within 90 days of the filing date of the report.
(b) There were no changes in the Fund's internal control over financial
reporting that occurred during the registrant's fiscal quarter that has
materially affected, or is reasonably likely to materially affect, the Fund's
internal control over financial reporting.
Item 3. Exhibits.
(a) A certification for the Principal Executive Officer of the registrant is
attached hereto as part of EX-99.cert.
(b) A certification for the Principal Financial Officer of the registrant is
attached hereto as part of EX-99.cert.
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) Van Kampen High Yield Fund
By: /s/ Ronald E. Robison
--------------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: July 20, 2006
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed by the following
persons on behalf of the registrant and in the capacities and on the dates
indicated.
By: /s/ Ronald E. Robison
--------------------------
Name: Ronald E. Robison
Title: Principal Executive Officer
Date: July 20, 2006
By: /s/ Phillip G. Goff
--------------------------
Name: Phillip G.Goff
Title: Principal Financial Officer
Date: July 20, 2006