HSF Hartford Income Shares Fund, Inc.

 

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811–02281

THE HARTFORD INCOME SHARES FUND, INC.

(Exact name of registrant as specified in charter)

P. O. Box 2999, Hartford, Connecticut 06104-2999
(Address of Principal Executive Offices)

Edward P. Macdonald, Esquire
Life Law Unit
The Hartford Financial Services Group, Inc.
200 Hopmeadow Street
Simsbury, Connecticut 06089
(Name and Address of Agent for Service)

Registrant’s telephone number, including area code: (860) 843-9934

Date of fiscal year end: July 31 ^st

Date of reporting period: April 30, 2008

Form N-Q is to be used by management investment companies to file reports with the Commission not later than 60 days after the close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

TABLE OF CONTENTS

Item 1. Schedule of Investments.

The Hartford Income Shares Fund, Inc.
Schedule of Investments
April 30, 2008 (Unaudited)
(000’s Omitted)

Principal						Market
Amount						Value +
ASSET & COMMERCIAL MORTGAGE BACKED SECURITIES — 3.0%
				Finance — 3.0%
				Bayview Commercial Asset Trust
$	4,792			7.00%, 07/25/2037 ⌂ ►		$	537
	7,585			7.18%, 01/25/2037 ⌂ ►			705
				Bayview Financial Acquisition Trust
	500			5.04%, 05/28/2037 ⌂ Δ			175
				CBA Commercial Small Balance Commercial Mortgage
	4,900			7.25%, 07/25/2039 ⌂ ►			470
	4,369			9.75%, 01/25/2039 ⌂ ►			426
				Credit-Based Asset Servicing and Securitization
	93			3.17%, 05/25/2036 ⌂ Δ			73
				Option One Mortgage Loan Trust
	1,000			6.99%, 03/25/2037 ⌂			140
				Renaissance Home Equity Loan Trust
	2,500			7.50%, 04/25/2037 - 06/25/2037 ⌂			245
				Total asset & commercial mortgage backed securities (Cost $5,938)		$	2,771
CORPORATE BONDS: INVESTMENT GRADE — 70.2%
				Basic Materials — 4.2%
				Newmont Mining Corp.
$	500			8.63%, 05/15/2011		$	560
				Olin Corp.
	234			6.75%, 06/15/2016			232
				Phelps Dodge Corp.
	250			9.50%, 06/01/2031			329
				Union Carbide Corp.
	2,000			7.75%, 10/01/2096			1,842
				Westvaco Corp.
	1,000			8.20%, 01/15/2030			953
							3,916
				Capital Goods — 1.3%
				Northrop Grumman Space & Mission Systems Corp.
	1,000			7.75%, 06/01/2029			1,185
				Consumer Cyclical — 1.8%
				Delhaize America, Inc.
	500			9.00%, 04/15/2031			619
				Federated Department Stores, Inc.
	1,000			8.50%, 06/01/2010			1,036
							1,655
				Energy — 4.8%
				Anadarko Petroleum Corp.
	235			6.45%, 09/15/2036			241
				Burlington Resources Finance Co.
	850			9.13%, 10/01/2021			1,166
				ConocoPhillips Holding Co.
	1,000			6.95%, 04/15/2029			1,145
				Halliburton Co.
	750			5.63%, 12/01/2008			757
				Valero Energy Corp.
	1,000			8.75%, 06/15/2030			1,154
							4,463
				Finance — 20.5%
				American Express Credit Corp.
	358			6.80%, 09/01/2066			344
				Ameriprise Financial, Inc.
	885			7.52%, 06/01/2066			817
				Bank of America Corp.
	450			8.00%, 12/29/2049 Δ			458
				CIT Group, Inc.
	250			3.19%, 08/17/2009 Δ			217
	2,000			6.10%, 03/15/2067 Δ			1,045
				Citigroup, Inc.
	829			8.30%, 12/21/2057 Δ			846
				CNA Financial Corp.
	1,000			7.25%, 11/15/2023			962
				Comerica Capital Trust II
	937			6.58%, 02/20/2037 Δ			641
				Countrywide Financial Corp.
	10			4.50%, 06/15/2010			9
	16			5.80%, 06/07/2012			15
				Countrywide Home Loans, Inc.
	107			4.00%, 03/22/2011			98
	606			4.13%, 09/15/2009			566
				ERAC USA Finance Co.
	1,000			8.00%, 01/15/2011 ■			1,036
				Farmers Exchange Capital
	3,000			7.20%, 07/15/2048 ■			2,716
				Financial Security Assurance Holdings
	333			6.40%, 12/15/2066 ■ Δ			241
				Goldman Sachs Capital Trust II
	600			5.79%, 12/29/2049 Δ			453
				HSBC Finance Corp.
	500			7.00%, 05/15/2012			528
				ILFC E-Capital Trust II
	2,585			6.25%, 12/21/2065 ■ Δ			2,295
				JP Morgan Chase Capital XX
	2,535			6.55%, 09/29/2036			2,300
				Liberty Mutual Group, Inc.
	250			7.00%, 03/15/2034 ■			240
				Mony Group, Inc.
	1,000			8.35%, 03/15/2010			1,054
				State Street Capital Trust III
	163			8.25%, 12/29/2049 Δ			166
				State Street Capital Trust IV
	360			3.80%, 06/15/2037 Δ			273
				Travelers Property Casualty Corp.
	1,000			7.75%, 04/15/2026			1,079
				Wachovia Corp.
	420			7.98%, 02/28/2049 Δ			413
				Western Financial Bank
	115			9.63%, 05/15/2012			121
							18,933
				Services — 12.1%
				Clear Channel Communications, Inc.
	750			7.65%, 09/15/2010			780
				COX Communications, Inc.
	1,500			6.80%, 08/01/2028			1,531
				Electronic Data Systems Corp.
	750			7.45%, 10/15/2029			691
				FedEx Corp.
	1,000			7.84%, 01/30/2018			1,221
				Hearst-Argyle Television, Inc.
	1,000			7.00%, 01/15/2018			982

The Hartford Income Shares Fund, Inc.
Schedule of Investments
April 30, 2008 (Unaudited)
(000’s Omitted)

Principal						Market
Amount						Value +
CORPORATE BONDS: INVESTMENT GRADE (continued)
				Services (continued)
				News America Holdings, Inc.
$	1,500			8.88%, 04/26/2023		$	1,750
				Time Warner Entertainment Co., L.P.
	2,550			8.38%, 07/15/2033			2,968
				Time Warner, Inc.
	700			6.63%, 05/15/2029			677
				Waste Management, Inc.
	500			7.13%, 12/15/2017			542
							11,142
				Technology — 13.9%
				AT&T Corp.
	1,750			8.00%, 11/15/2031			2,105
				Cingular Wireless Services, Inc.
	1,500			8.75%, 03/01/2031			1,846
				Comcast Cable Communications, Inc.
	1,000			8.50%, 05/01/2027			1,182
				Embarq Corp.
	2,000			8.00%, 06/01/2036			1,970
				Qwest Corp.
	100			6.88%, 09/15/2033			85
				Raytheon Co.
	1,000			7.20%, 08/15/2027			1,107
				Sprint Capital Corp.
	1,500			6.88%, 11/15/2028			1,166
				Tele-Communications, Inc.
	1,500			9.80%, 02/01/2012			1,691
				Telus Corp.
	400			8.00%, 06/01/2011			432
				Tyco International Group S.A.
	1,250			7.00%, 06/15/2028			1,199
							12,783
				Transportation — 9.7%
				American Airlines, Inc.
	2,500			7.86%, 10/01/2011			2,500
				Continental Airlines, Inc.
	974			6.80%, 08/02/2018			876
	1,387			7.71%, 04/02/2021			1,387
	1,000			7.92%, 05/01/2010			990
	2,073			8.05%, 11/01/2020			2,073
				Norfolk Southern Corp.
	1,000			8.63%, 05/15/2010			1,085
							8,911
				Utilities — 1.9%
				CMS Panhandle Holding Co.
	1,000			7.00%, 07/15/2029			986
				FirstEnergy Corp.
	750			6.45%, 11/15/2011			779
							1,765
				Total corporate bonds: investment grade (Cost $61,687)		$	64,753
CORPORATE BONDS: NON-INVESTMENT GRADE — 21.8%
				Basic Materials — 0.1%
				Olin Corp.
$	66			9.13%, 12/15/2011		$	72
				Capital Goods — 0.2%
				Briggs & Stratton Corp.
	170			8.88%, 03/15/2011			176
				Consumer Cyclical — 0.2%
				Dillard’s, Inc.
	120			6.63%, 01/15/2018			91
	85			7.13%, 08/01/2018			66
							157
				Finance — 5.6%
				Countrywide Financial Corp.
	483			6.25%, 05/15/2016			425
				Countrywide Home Loans, Inc.
	29			6.25%, 04/15/2009			28
				Ford Motor Credit Co.
	150			7.16%, 04/15/2012 Δ			147
	1,000			9.75%, 09/15/2010			972
				General Motors Acceptance Corp.
	2,500			6.88%, 09/15/2011			2,083
				Qwest Capital Funding, Inc.
	750			6.50%, 11/15/2018			626
				Residential Capital Corp.
	550			8.38%, 06/30/2010 Δ			298
				Washington Mutual Preferred Funding
	1,000			6.53%, 12/29/2049 ■			575
							5,154
				Health Care — 0.6%
				Rite Aid Corp.
	750			9.50%, 06/15/2017			613
				Services — 6.3%
				Belo Corp.
	1,500			7.25%, 09/15/2027			1,297
				Dex Media West LLC, Inc.
	750			9.88%, 08/15/2013			707
				Harrah’s Operating Co., Inc.
	1,000			10.75%, 02/01/2016 ■			860
				Idearc, Inc.
	500			8.00%, 11/15/2016			325
				Liberty Media Corp.
	1,000			8.50%, 07/15/2029			898
				Mandalay Resort Group
	250			7.63%, 07/15/2013			225
				MGM Mirage, Inc.
	1,000			8.50%, 09/15/2010			1,025
				TL Acquisitions, Inc.
	500			10.50%, 01/15/2015 ■			453
							5,790
				Technology — 6.5%
				CCH I Holdings LLC
	3,000			9.92%, 04/01/2014			1,530
				Citizens Communications Co.
	500			9.00%, 08/15/2031			461
				Intelsat Bermuda Ltd.
	920			11.25%, 06/15/2016			933
				Lucent Technologies, Inc.
	1,500			6.45%, 03/15/2029			1,125
				Mediacom LLC
	1,500			7.88%, 02/15/2011			1,417

The Hartford Income Shares Fund, Inc.
Schedule of Investments
April 30, 2008 (Unaudited)
(000’s Omitted)

Principal						Market
Amount						Value +
CORPORATE BONDS: NON-INVESTMENT GRADE (continued)
				Technology (continued)
				Nortel Networks Corp.
$	650			6.88%, 09/01/2023		$	449
				PanAmSat Corp.
	100			6.88%, 01/15/2028			81
							5,996
				Transportation — 0.6%
				Delta Air Lines, Inc.
	617			10.50%, 04/30/2016 ● ⌂			293
				Royal Caribbean Cruises Ltd.
	250			7.00%, 06/15/2013			237
							530
				Utilities — 1.7%
				El Paso Corp.
	1,000			8.05%, 10/15/2030			1,073
				Texas Competitive Electric Co.
	500			10.25%, 11/01/2015 ■			521
							1,594
				Total corporate bonds: non-investment grade (Cost $21,495)		$	20,082
U.S. GOVERNMENT AGENCIES — 0.6%
				Federal Home Loan Mortgage Corporation — 0.1%
				Mortgage Backed Securities:
$	10			9.00%, 2022		$	10
	16			10.50%, 2017			18
	1			11.25%, 2010			1
	6			11.50%, 2015			7
	7			11.75%, 2010			7
							43
				Federal National Mortgage Association — 0.1%
				Mortgage Backed Securities:
	57			8.00%, 2024 — 2025			62
	15			10.50%, 2017			18
	25			11.00%, 2011 — 2018			28
	10			12.00%, 2014			11
	12			12.50%, 2015			13
							132
				Government National Mortgage Association — 0.2%
				Mortgage Backed Securities:
	55			9.00%, 2021			60
	65			9.50%, 2020			73
							133
				Other Government Agencies — 0.2%
				Small Business Administration Participation Certificates:
	210			5.54%, 2026			215
				Total U.S. government agencies (Cost $496)		$	523
U.S. GOVERNMENT SECURITIES — 0.6%
				U.S. Treasury Securities — 0.6%
				U.S. Treasury Bonds:
$	215			4.75%, 2037		$	224
				U.S. Treasury Notes:
	319			4.63%, 2012			340
				Total U.S. government securities (Cost $549)		$	564

						Market
Shares						Value +
COMMON STOCK — 0.2%
				Consumer Cyclical — 0.0%
	1			Hosiery Corp. of America, Inc
				Class A † ● ⌂		$	—
				Technology — 0.1%
	—			AboveNet, Inc. ●			12
	2			Global Crossing Ltd. ●			25
	—			XO Holdings, Inc. ●			—
							37
				Transportation — 0.1%
	12			Delta Air Lines, Inc. ●			104
				Total common stock (Cost $75)		$	141
WARRANTS — 0.0%
				Technology — 0.0%
	—			AboveNet, Inc. ● ⌂		$	6
	—			XO Holdings, Inc. ● ⌂			—
				Total warrants (Cost $- )		$	6
PREFERRED STOCK — 1.5%
				Finance — 1.5%
	55			Federal Home Loan Mortgage Corp.		$	1,418
				Total preferred stock (Cost $1,388)		$	1,418
				Total long-term investments (Cost $91,628)		$	90,258

Principal
Amount
SHORT-TERM INVESTMENTS — 0.4%
				U.S. Treasury Bills — 0.4%
$	400			1.43%, 06/12/2008 ○ o						$	400
				Total short-term investments (Cost $399)						$	400
				Total investments (Cost $92,027) ▲			98.3	%		$	90,658
				Other assets and liabilities			1.7	%			1,564
				Total net assets			100.0	%		$	92,222

Unrealized Appreciation		$	5,804
Unrealized Depreciation			(7,231	)
Net Unrealized Depreciation		$	(1,427	)

The Hartford Income Shares Fund, Inc.
Schedule of Investments
April 30, 2008 (Unaudited)
(000’s Omitted)

Period

Shares/

Cost

Acquired

Par

Security

Basis

10/2007

—

AboveNet, Inc.

$

—

05/2007

4,792

Bayview Commercial Asset Trust,

7.00%, 07/25/2037 - 144A

680

12/2006

7,585

Bayview Commercial Asset Trust,

7.18%, 01/25/2037 - 144A

826

04/2007

500

Bayview Financial Acquisition Trust,

5.04%, 05/28/2037

500

05/2007

4,900

CBA Commercial Small Balance

Commercial Mortgage, 7.25%, 07/25/2039 - 144A

431

11/2006

4,369

CBA Commercial Small Balance

Commercial Mortgage, 9.75%, 01/25/2039 - 144A

415

07/2007

93

Credit-Based Asset Servicing and Securitization, 3.17%,

05/25/2036 - 144A 91

10/1996

617

Delta Air Lines, Inc., 10.50%,

04/30/2016

654

10/1994

1

Hosiery Corp. of America, Inc. Class

A - 144A

8

03/2007

1,000

Option One Mortgage Loan Trust,

6.99%, 03/25/2037

874

05/2007

2,500

Renaissance Home Equity Loan

Trust, 7.50%, 04/25/2037 - 06/25/2037

2,122

05/2006

—

XO Holdings, Inc.

—

Unrealized

Number of

Expiration

Appreciation/

Description

Contracts*

Position

Month

(Depreciation)

10 Year U.S. Treasury Note

110

Short

Jun 2008

$

114

Distribution by Credit Quality
as of April 30, 2008

		Percentage of
		Long-Term
Rating		Holdings
AAA			3.6
AA			5.1
A			19.9
BBB			48.6
BB			9.6
B			8.1
CCC			4.3
CC			0.3
NR			0.5
Total			100.0	%

Item 2. Controls and Procedures.

(a) Based on an evaluation of the Registrant’s Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report, the Disclosure Controls and Procedures are effectively designed to ensure that information required to be disclosed by the Registrant is recorded, processed, summarized and reported by the date of this report, including ensuring that information required to be disclosed in the report is accumulated and communicated to the Registrant’s management, including the Registrant’s officers, as appropriate, to allow timely decisions regarding required disclosure.

(b) There were no significant changes in the Registrant’s internal controls or in other factors 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.

(a)

Section 302 certifications of the principal executive officer and principal financial officer of Registrant.

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.

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.

EXHIBIT LIST

99.CERT		Certifications
		(i) Section 302 certification of principal executive officer
		(ii) Section 302 certification of principal financial officer

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