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:
811-22125
JAVELIN
EXCHANGE-TRADED TRUST
(Exact
name of registrant as specified in charter)
33 Witherspoon Street, Suite
210
Princeton, NJ
04101
(Address
of principal executive offices) (Zip code)
Brinton
W. Frith
President
33 Witherspoon Street, Suite 210
Princeton, NJ 04101
(Name
and address of agent for service)
Registrant’s
telephone number, including area code:
1-609-356-0800
Date of
fiscal year end:
December
31
Date of
reporting period:
September 30,
2009
Form N-Q is to be used by management investment
companies, other than small business investment companies registered on Form N-5
(
§
§
239.24 and 274.5
of this chapter), 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 the 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.
September
30, 2009
(Unaudited)
|
Number
of
shares
|
|
|
|
Value
|
|
|
|
|
Common
Stocks - 99.2%
|
|
|
|
|
Consumer
Discretionary - 3.0%
|
|
|
|
|
Auto
Components - 0.4%
|
|
|
|
688
|
|
Denso
Corp.
|
|
$
|
20,286
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Household
Durables - 0.9%
|
|
|
|
2,770
|
|
Panasonic
Corp., ADR
|
|
|
40,442
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Media
- 0.2%
|
|
|
|
374
|
|
Reed
Elsevier Plc, ADR
|
|
|
11,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Specialty
Retail - 1.1%
|
|
|
|
650
|
|
Hennes
& Mauritz AB
|
|
|
36,391
|
|
|
|
280
|
|
Inditex
S.A.
|
|
|
16,048
|
|
|
|
|
|
|
|
|
52,439
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Textiles,
Apparel & Luxury Goods - 0.4%
|
|
|
|
694
|
|
Compagnie
Financiere Richemont S.A.
|
|
|
19,583
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Consumer Discretionary
|
|
|
144,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer
Staples - 1.9%
|
|
|
|
|
|
Household
Products - 1.2%
|
|
|
|
692
|
|
Kao
Corp.
|
|
|
17,158
|
|
|
|
800
|
|
Reckitt
Benckiser Group Plc
|
|
|
39,127
|
|
|
|
|
|
|
|
|
56,285
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Personal
Products - 0.7%
|
|
|
|
316
|
|
L'Oreal
S.A.
|
|
|
31,386
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Consumer Staples
|
|
|
87,671
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Energy
- 29.7%
|
|
|
|
|
|
Oil,
Gas & Consumable Fuels - 29.7%
|
|
|
|
5,306
|
|
BG
Group Plc
|
|
|
92,244
|
|
|
|
3,867
|
|
BP
Plc, ADR
|
|
|
205,840
|
|
|
|
524
|
|
Cameco
Corp.
|
|
|
14,567
|
|
|
|
704
|
|
Canadian
Natural Resources Ltd.
|
|
|
47,302
|
|
|
|
196
|
|
CNOOC
Ltd., ADR
|
|
|
26,544
|
|
|
|
990
|
|
EnCana
Corp.
|
|
|
57,034
|
|
|
|
1,926
|
|
ENI
SpA, ADR
|
|
|
96,011
|
|
|
|
4,690
|
|
Gazprom
OAO, ADR
|
|
|
109,043
|
|
|
|
344
|
|
Imperial
Oil Ltd.
|
|
|
13,082
|
|
|
|
570
|
|
Lukoil
OAO, ADR
|
|
|
30,894
|
|
|
|
1,168
|
|
Origin
Energy Ltd.
|
|
|
16,823
|
|
|
|
2,355
|
|
Petroleo
Brasileiro S.A., ADR
|
|
|
108,095
|
|
|
|
1,304
|
|
Reliance
Industries Ltd., GDR (a)
|
|
|
120,098
|
|
|
|
3,464
|
|
Rosneft
Oil Co., GDR
|
|
|
26,049
|
|
|
|
570
|
|
Sasol
Ltd., ADR
|
|
|
21,728
|
|
|
|
1,420
|
|
StatoilHydro
ASA, ADR
|
|
|
32,007
|
|
|
|
2,687
|
|
Suncor
Energy Inc.
|
|
|
92,863
|
|
|
|
4,750
|
|
Surgutneftegaz,
ADR
|
|
|
40,660
|
|
|
|
1,336
|
|
Talisman
Energy Inc.
|
|
|
23,166
|
|
|
|
3,075
|
|
Total
S.A., ADR
|
|
|
182,225
|
|
|
|
1,064
|
|
Tullow
Oil Plc
|
|
|
19,195
|
|
|
|
610
|
|
Woodside
Petroleum Ltd.
|
|
|
28,064
|
|
|
|
|
|
|
|
|
1,403,534
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Energy
|
|
|
1,403,534
|
|
|
|
|
Health
Care - 18.0%
|
|
|
|
|
Biotechnology
- 0.5%
|
|
|
|
794
|
|
CSL
Ltd.
|
|
|
23,447
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Health
Care Equipment & Supplies - 0.3%
|
|
|
|
562
|
|
Cie
Generale d'Optique Essilor International S.A.,
ADR
|
|
|
15,944
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pharmaceuticals
- 17.2%
|
|
|
|
610
|
|
Astellas
Pharma Inc.
|
|
|
25,140
|
|
|
|
2,152
|
|
AstraZeneca
Plc, ADR
|
|
|
96,732
|
|
|
|
864
|
|
Daiichi
Sankyo Co. Ltd.
|
|
|
17,881
|
|
|
|
3,680
|
|
GlaxoSmithKline
Plc, ADR
|
|
|
145,397
|
|
|
|
3,470
|
|
Novartis
AG, ADR
|
|
|
174,819
|
|
|
|
620
|
|
Novo
Nordisk A/S, ADR
|
|
|
39,029
|
|
|
|
1,005
|
|
Roche
Holding AG
|
|
|
162,230
|
|
|
|
3,030
|
|
Sanofi-Aventis
S.A., ADR
|
|
|
111,958
|
|
|
|
922
|
|
Takeda
Pharmaceutical Co. Ltd.
|
|
|
38,513
|
|
|
|
|
|
|
|
|
811,699
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Health
Care
|
|
|
851,090
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrials
- 8.2%
|
|
|
|
|
|
Construction
& Engineering - 0.4%
|
|
|
|
548
|
|
Larsen
& Toubro Ltd., GDR
|
|
|
19,125
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Electrical
Equipment - 2.9%
|
|
|
|
3,078
|
|
ABB
Ltd., ADR
|
|
|
61,683
|
|
|
|
270
|
|
Alstom
S.A.
|
|
|
19,682
|
|
|
|
344
|
|
Schneider
Electric S.A.
|
|
|
34,826
|
|
|
|
276
|
|
Vestas
Wind Systems A/S (b)
|
|
|
19,929
|
|
|
|
|
|
|
|
|
136,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial
Conglomerates - 3.3%
|
|
|
|
1,290
|
|
Koninklijke
Philips Electronics NV
|
|
|
31,424
|
|
|
|
1,333
|
|
Siemens
AG, ADR
|
|
|
123,916
|
|
|
|
|
|
|
|
|
155,340
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Machinery
- 1.0%
|
|
|
|
254
|
|
Fanuc
Ltd.
|
|
|
22,837
|
|
|
|
1,316
|
|
Komatsu
Ltd.
|
|
|
24,722
|
|
|
|
|
|
|
|
|
47,559
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Road
& Rail - 0.6%
|
|
|
|
616
|
|
Canadian
National Railway Co.
|
|
|
30,178
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Industrials
|
|
|
388,322
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Information
Technology - 14.7%
|
|
|
|
|
|
Communications
Equipment - 3.8%
|
|
|
|
6,674
|
|
Nokia
OYJ, ADR
|
|
|
97,574
|
|
|
|
630
|
|
Research
In Motion Ltd. (b)
|
|
|
42,556
|
|
|
|
3,984
|
|
Telefonaktiebolaget
LM Ericsson, ADR
|
|
|
39,920
|
|
|
|
|
|
|
|
|
180,050
|
|
|
|
|
Electronic
Equipment, Instruments & Components - 2.1%
|
|
|
|
682
|
|
FUJIFILM
Holdings Corp.
|
|
|
20,490
|
|
|
|
4,880
|
|
HON
HAI Precision Industry Co. Ltd., GDR
|
|
|
40,016
|
|
|
|
246
|
|
Kyocera
Corp., ADR
|
|
|
22,573
|
|
|
|
300
|
|
SECOM
Co. Ltd.
|
|
|
15,145
|
|
|
|
|
|
|
|
|
98,224
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
IT
Services - 0.8%
|
|
|
|
752
|
|
Infosys
Technologies Ltd., ADR
|
|
|
36,464
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Office
Electronics - 1.3%
|
|
|
|
1,540
|
|
Canon
Inc., ADR
|
|
|
61,585
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Semiconductors
& Semiconductor Equipment - 5.5%
|
|
|
|
385
|
|
Samsung
Electronics Co. Ltd., GDR
|
|
|
131,285
|
|
|
|
11,853
|
|
Taiwan
Semiconductor Manufacturing Co. Ltd., ADR
|
|
|
129,909
|
|
|
|
|
|
|
|
|
261,194
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Software
- 1.2%
|
|
|
|
1,162
|
|
SAP
AG, ADR
|
|
|
56,787
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Information Technology
|
|
|
694,304
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Materials
- 17.7%
|
|
|
|
|
|
Chemicals
- 4.5%
|
|
|
|
346
|
|
Air
Liquide S.A.
|
|
|
39,322
|
|
|
|
1,224
|
|
BASF
SE
|
|
|
64,784
|
|
|
|
164
|
|
K&S
AG
|
|
|
8,939
|
|
|
|
390
|
|
Potash
Corp. of Saskatchewan Inc.
|
|
|
35,233
|
|
|
|
542
|
|
Shin-Etsu
Chemical Co. Ltd.
|
|
|
33,415
|
|
|
|
626
|
|
Syngenta
AG, ADR
|
|
|
28,765
|
|
|
|
|
|
|
|
|
210,458
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metals
& Mining - 13.2%
|
|
|
|
212
|
|
Agnico-Eagle
Mines Ltd.
|
|
|
14,384
|
|
|
|
3,598
|
|
Anglo
American Plc, ADR
|
|
|
57,136
|
|
|
|
470
|
|
AngloGold
Ashanti Ltd., ADR
|
|
|
19,157
|
|
|
|
1,224
|
|
ArcelorMittal
|
|
|
45,459
|
|
|
|
1,156
|
|
Barrick
Gold Corp.
|
|
|
43,812
|
|
|
|
2,468
|
|
BHP
Billiton Ltd., ADR
|
|
|
162,913
|
|
|
|
1,707
|
|
BHP
Billiton Plc, ADR
|
|
|
94,056
|
|
|
|
472
|
|
Cia
Siderurgica Nacional S.A., ADR
|
|
|
14,443
|
|
|
|
980
|
|
Goldcorp
Inc.
|
|
|
39,563
|
|
|
|
792
|
|
Impala
Platinum Holdings Ltd.
|
|
|
18,291
|
|
|
|
932
|
|
Kinross
Gold Corp.
|
|
|
20,224
|
|
|
|
638
|
|
Newcrest
Mining Ltd.
|
|
|
17,962
|
|
|
|
370
|
|
POSCO,
ADR
|
|
|
38,458
|
|
|
|
1,668
|
|
Vale
S.A., ADR
|
|
|
38,581
|
|
|
|
|
|
|
|
|
624,439
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Materials
|
|
|
834,897
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telecommunication
Services - 5.1%
|
|
|
|
|
|
Diversified
Telecommunication Services- 0.9%
|
|
|
|
1,660
|
|
China
Unicom Hong Kong Ltd., ADR
|
|
|
23,638
|
|
|
|
9,250
|
|
Singapore
Telecommunications Ltd.
|
|
|
21,335
|
|
|
|
|
|
|
|
|
44,973
|
|
|
|
|
Wireless
Telecommunication Services - 4.2%
|
|
|
|
1,030
|
|
America
Movil S.A.B. de C.V., ADR
|
|
|
45,145
|
|
|
|
1,475
|
|
China
Mobile Ltd., ADR
|
|
|
72,437
|
|
|
|
4
|
|
KDDI
Corp.
|
|
|
22,606
|
|
|
|
1,414
|
|
MTN
Group Ltd.
|
|
|
22,794
|
|
|
|
2,150
|
|
NTT
DoCoMo Inc., ADR
|
|
|
34,099
|
|
|
|
|
|
|
|
|
197,081
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Telecommunication Services
|
|
|
242,054
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utilities
- 0.9%
|
|
|
|
|
|
Electric
Utilities - 0.9%
|
|
|
|
366
|
|
EDF
S.A.
|
|
|
21,688
|
|
|
|
1,216
|
|
Scottish
& Southern Energy Plc
|
|
|
22,813
|
|
|
|
|
|
|
|
|
44,501
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Utilities
|
|
|
44,501
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Common Stocks
|
|
|
|
|
|
|
|
|
(Cost
$4,072,102)
|
|
|
4,690,373
|
|
|
|
|
|
Total
Investments-99.2%
|
|
|
|
|
|
|
|
|
(Cost
$4,072,102) (c)
|
|
$
|
4,690,373
|
|
|
|
|
|
Other
assets, less cash and liabilities-0.8%
|
|
|
36,505
|
|
|
|
|
|
Net
Assets-100.0%
|
|
$
|
4,726,878
|
|
|
|
|
(a)
Security is exempt from
registration under Rule 144A under the Securities Act of 1933. This
security may be resold in transactions that are exempt from registration,
normally to qualified institutional buyers. This security has been
deemed liquid pursuant to guidelines approved by the Board of Trustees, unless
otherwise noted.
(b)
Non-income producing
security.
(c)
At
September 30, 2009, the aggregate cost of investments for Federal income tax
purposes
was $4,072,102. The net
unrealized appreciation was $618,271,
which
consisted of aggregate gross unrealized appreciation of $635,428
and
aggregate
gross unrealized depreciation of $17,157.
|
ADR
|
-
|
American
Depositary Receipt
|
|
GDR
|
-
|
Global
Depositary Receipt
|
The
valuation policy and a listing of other significant accounting policies are
available in the most recent
shareholder
report.
Fair Value of
Financial Instruments
The Fund has adopted Accounting Standards
Codification 820, Fair Value Measurements and Disclosures ("ASC 820"). ASC 820
defines fair value, establishes a framework for measuring fair value in
accordance with GAAP and expands disclosures about fair value measurement. ASC
820 establishes a fair
value
hierarchy that distinguishes between (1) market participant assumptions
developed based on market data obtained from sources independent of the Fund
(observable inputs) and (2) the Fund’s own assumptions about market participant
assumptions developed based on the best information available under the
circumstances (unobservable inputs). The three levels defined by the ASC 820
hierarchy are as follows:
Level I –
Quoted prices (unadjusted) in active markets for identical assets or liabilities
that the reporting entity has the ability to access at the measurement
date.
Level II
– Inputs other than quoted prices included within Level I that are observable
for the asset or liability, either directly or indirectly. Level II assets
include the following: quoted prices for similar assets or liabilities in active
markets, quoted prices for identical or similar assets or liabilities in markets
that are not active, inputs other than quoted prices that are observable for the
asset or liability, and inputs that are derived principally from or corroborated
by observable market data by correlation or other means (market-corroborated
inputs.)
Level III
– Unobservable pricing input at the measurement date for the asset or liability.
Unobservable inputs shall be used to measure fair value to the extent that
observable inputs are not available.
In some
instances, the inputs used to measure fair value might fall in different levels
of the fair value hierarchy. The level in the fair value hierarchy within which
the fair value measurement in its entirety falls shall be determined based on
the lowest input level that is significant to the fair value measurement in it
entirety.
The
following table summarizes the valuation of the Fund’s securities at September
30, 2009 using the fair value hierarchy:
|
|
|
Quoted
Prices
|
|
|
Significant
|
|
|
|
|
|
|
|
|
|
|
in
Active Markets
|
|
|
Other
|
|
|
Significant
|
|
|
|
|
|
|
|
for
Identical
|
|
|
Observable
|
|
|
Unobservable
|
|
|
|
|
|
|
|
Investments
|
|
|
Inputs
|
|
|
Inputs
|
|
|
Value
at
|
|
|
Category
|
|
(Level
1)
|
|
|
(Level
2)
|
|
|
(Level
3)
|
|
|
9/30/2009
|
|
|
Consumer
Discretionary
|
|
$
|
144,000
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
144,000
|
|
|
Consumer
Staples
|
|
|
87,671
|
|
|
|
-
|
|
|
|
-
|
|
|
|
87,671
|
|
|
Energy
|
|
|
1,403,534
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,403,534
|
|
|
Health
Care
|
|
|
851,090
|
|
|
|
-
|
|
|
|
-
|
|
|
|
851,090
|
|
|
Industrials
|
|
|
388,322
|
|
|
|
-
|
|
|
|
-
|
|
|
|
388,322
|
|
|
Information
Technology
|
|
|
694,304
|
|
|
|
-
|
|
|
|
-
|
|
|
|
694,304
|
|
|
Materials
|
|
|
834,897
|
|
|
|
-
|
|
|
|
-
|
|
|
|
834,897
|
|
|
Telecommunication
Services
|
|
|
242,054
|
|
|
|
-
|
|
|
|
-
|
|
|
|
242,054
|
|
|
Utilities
|
|
|
44,501
|
|
|
|
-
|
|
|
|
-
|
|
|
|
44,501
|
|
|
Total
|
|
$
|
4,690,373
|
|
|
$
|
-
|
|
|
$
|
-
|
|
|
$
|
4,690,373
|
|
The Adviser has evaluated events and transactions for potential
recognition or disclosure through November 20, 2009. This evaluation did
not result in any subsequent events that necessitated additional disclosure
and/or adjustments.