2012 PUF Detailed Schedule of Investments
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PERMANENT UNIVERSITY FUND DETAIL SCHEDULES OF INVESTMENT SECURITIES AND INDEPENDENT AUDITORS’ REPORT August 31, 2012 INDEPENDENT AUDITORS’ REPORT The Board of Regents of The University of Texas System The Board of Directors of The University of Texas Investment Management Company We have audited, in accordance with auditing standards generally accepted in the United States of America, the financial statements of the Permanent University Fund (the “PUF”), as of and for the year ended August 31, 2012, and have issued our unqualified report thereon dated October 31, 2012. We have also audited the accompanying schedule of PUF’s equity securities (Schedule A), preferred stocks and convertible securities (Schedule B), purchased options (Schedule C), debt securities (Schedule D), investment funds (Schedule E), physical commodities (Schedule F), cash and cash equivalents (Schedule G), hedge fund investment funds (Schedule H), and the private investment funds (Schedule I), as of August 31, 2012. These schedules are the responsibility of the PUF’s management. Our responsibility is to express an opinion on these Schedules based on our audit. In our opinion, the Schedules referred to above, when read in conjunction with the financial statements of the PUF referred to above, present fairly, in all material respects, the information set forth therein. October 31, 2012 PERMANENT UNIVERSITY FUND SCHEDULE A EQUITY SECURITIES August 31, 2012 SECURITY SHARES VALUE COST ($) ($) DOMESTIC COMMON STOCKS ABBOTT LABS........................................................................................42,031 2,754,717 2,558,697 ACCESS MIDSTREAM PARTNERS LP..................................................21,077 635,050 600,054 ADOBE SYSTEMS INC...........................................................................104,170 3,257,398 3,148,645 ALCOA INC.............................................................................................116,943 1,001,032 1,428,405 ALEXANDERS INC..................................................................................690 310,252 205,199 ALEXANDRIA REAL ESTATE.................................................................17,473 1,291,255 1,189,251 ALPHA NATURAL RESOURCES INC.....................................................140,812 836,423 5,379,686 ALTERA CORP.......................................................................................40,957 1,528,918 1,479,863 AMAZON COM INC.................................................................................7,518 1,866,218 1,426,966 AMERICAN ASSETS TRUST INC...........................................................28,720 782,908 599,103 AMERICAN CAMPUS COMMUNITIES INC.............................................32,909 1,534,218 1,436,878 AMERICAN INTERNATIONAL GROUP INC............................................56,109 1,926,217 1,837,127 AMERICAN TOWER CORP....................................................................9,100 640,640 607,863 ANADARKO PETROLEUM......................................................................33,575 2,325,724 2,908,317 ANALOG DEVICES INC..........................................................................105,253 4,182,770 3,608,034 ANNALY MORTGAGE MANAGEMENT INC............................................1,941 33,604 30,731 AON CORP.............................................................................................12,714 660,612 623,106 APACHE CORP.......................................................................................37,421 3,208,834 3,931,257 APARTMENT INVESTMENT & MANAGEMENT......................................182,756 4,839,379 4,184,404 APPLIED MATERIALS INC.....................................................................371,225 4,339,625 4,829,265 APPROACH RESOURCES INC..............................................................64,967 1,867,142 2,060,821 ARCH COAL INC.....................................................................................169,400 1,035,034 5,661,464 ASCENA RETAIL GROUP INC................................................................254,880 5,046,626 3,835,207 ASPEN TECHNOLOGY INC....................................................................187,773 4,577,902 2,818,609 ASSISTED LIVING CONCEPTS INC.......................................................35,220 274,364 577,403 ATP OIL & GAS CORP............................................................................26,900 5,380 974,293 AUTOMATIC DATA PROCESSING INC..................................................4,265 247,693 190,075 AVALONBAY COMMUNITIES INC..........................................................23,784 3,365,911 2,999,520 AVON PRODUCTS INC...........................................................................10,673 164,903 244,080 BAKER HUGHES INC.............................................................................77,707 3,543,460 4,174,362 BASIC ENERGY SERVICES INC............................................................48,580 539,238 981,888 BERKSHIRE HATHAWAY INC................................................................9,145 2,403,446 2,230,735 BIOMED REALTY TRUST INC................................................................53,400 989,502 1,024,597 BOARDWALK PIPELINE PARTNERS.....................................................44,725 1,208,917 1,147,308 BONANZA CREEK ENERGY INC...........................................................11,600 233,392 196,248 BOSTON PROPERTIES INC...................................................................35,746 4,008,199 3,388,860 BPZ RESOURCES INC...........................................................................14,800 33,892 78,497 BROOKDALE SR LIVING INC.................................................................8,154 177,186 133,922 BUCKEYE PARTNERS...........................................................................38,381 1,896,789 2,236,897 CABOT OIL & GAS..................................................................................84,684 3,506,753 2,832,972 CAMERON INTERNATIONAL CORP......................................................95,241 5,210,614 4,208,499 CARBO CERAMICS INC.........................................................................15,232 1,071,994 1,489,759 CAREFUSION CORP..............................................................................105,692 2,776,532 2,577,048 CARRIZO OIL & GAS INC.......................................................................27,900 704,196 713,717 CHENIERE ENERGY INC.......................................................................47,800 705,528 467,211 CHESAPEAKE ENERGY CORP.............................................................156,300 3,024,405 2,760,342 CIMAREX ENERGY CO..........................................................................33,211 1,899,973 2,174,766 CLAYTON WILLIAMS ENERGY INC.......................................................65,864 3,164,765 3,588,999 CME GROUP INC....................................................................................103,653 5,690,572 5,351,565 COBALT INTERNATIONAL ENERGY..................................................... 51,100 1,160,481 1,363,736 2 PERMANENT UNIVERSITY FUND SCHEDULE A EQUITY SECURITIES (CONTINUED) August 31, 2012 SECURITY SHARES VALUE COST ($) ($) COCA COLA CO.....................................................................................122,197 4,570,175 3,570,263 COLGATE-PALMOLIVE CO....................................................................34,424 3,438,683 2,588,456 COLONIAL PROPERTIES.......................................................................78,999 1,731,658 1,676,755 COMFORT SYSTEMS USA INC..............................................................203,476 2,099,869 2,234,174 COMSTOCK RESOURCES INC..............................................................3,700 61,013 281,983 CONSOL ENERGY INC...........................................................................104,300 3,149,860 4,440,768 CONTANGO OIL & GAS CO...................................................................543 30,159 27,607 CONTANGO ORE INC............................................................................1,868 13,075 9,637 COPANO ENERGY LLC..........................................................................40,173 1,232,909 1,328,521 CORPORATE OFFICE PROPERTIES TRUST INC.................................57,259 1,280,311 1,336,250 COUSINS PROPERTIES INC..................................................................96,005 767,080 668,767 CREDIT ACCEPTANCE CORP...............................................................5,169 508,937 436,841 CROSSTEX ENERGY LP........................................................................20,421 303,864 329,538 CUBESMART..........................................................................................124,159 1,601,651 1,334,729 CULP INC................................................................................................19,122 203,456 205,285 CVS CORP..............................................................................................8,837 402,519 320,064 DCP MIDSTREAM PARTNERS LP.........................................................20,193 871,126 736,186 DDR CORP.............................................................................................100,700 1,532,654 1,491,859 DELL INC................................................................................................75,817 802,907 1,039,686 DEVON ENERGY CORP.........................................................................102,976