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: 811-07964
ACM MANAGED DOLLAR INCOME FUND, INC.
(Exact name of registrant as specified in charter)
1345 Avenue of the Americas, New York, New York 10105
(Address of principal executive offices) (Zip code)
Mark R. Manley
Alliance Capital Management L.P.
1345 Avenue of the Americas
New York, New York 10105
(Name and address of agent for service)
Registrant's telephone number, including area code: (800) 221-5672
Date of fiscal year end: September 30, 2005
Date of reporting period: December 31, 2004
ITEM 1. SCHEDULE OF INVESTMENTS.
PORTFOLIO OF INVESTMENTS
December 31, 2004 ACM Managed Dollar Income Fund
--------------------------------------------------------------------------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
SOVEREIGN DEBT OBLIGATIONS-61.6%
Argentina-2.2%
Republic of Argentina FRN
2.008%, 8/03/12(a) $ 2,315 $ 1,977,010
11.375%, 3/15/10(b) 190 63,650
11.75%, 6/15/15(b) 350 114,625
12.00%, 6/19/31(b) 1,171 380,672
12.25%, 6/19/18(b) 2,780 914,776
15.50%, 12/19/08(a)(b) 2,083 685,307
---------------
4,136,040
---------------
Brazil-12.5%
Republic of Brazil
9.25%, 10/22/10 200 223,800
10.50%, 7/14/14(C) 1,750 2,076,375
11.00%, 8/17/40(C) 5,108 6,060,642
12.00%, 4/15/10 1,150 1,422,550
12.75%, 1/15/20 1,965 2,658,645
Republic of Brazil-DCB FRN
Series L
3.125%, 4/15/12(a) 84 79,952
3.125%, 4/15/12(a) 1,147 1,094,073
C-Bonds
8.00%, 4/15/14 (c) 9,381 9,604,242
---------------
23,220,279
---------------
Bulgaria-0.5%
Republic of Bulgaria
8.25%, 1/15/15(d) 451 563,750
8.25%, 1/15/15 355 443,750
---------------
1,007,500
---------------
Colombia-2.1%
Republic of Colombia
8.25%, 12/22/14 350 364,875
10.75%, 1/15/13 237 282,978
11.75%, 2/25/20(c) 2,545 3,267,780
---------------
3,915,633
---------------
Ecuador-1.5%
Ecuador Structured Note
6.50%, 10/11/05 591 564,806
Republic of Ecuador
8.00%, 8/15/30(a) 2,610 2,255,040
8.00%, 8/15/30(a)(d) 75 64,800
---------------
2,884,646
---------------
El Salvador-0.3%
Republic of El Salvador
7.625%, 9/21/34(d) 150 154,500
8.50%, 7/25/11(d) 400 451,600
---------------
606,100
---------------
Indonesia-0.5%
Republic of Indonesia
6.75%, 3/10/14(d) 945 947,363
---------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Jamaica-0.4%
Government of Jamaica
11.75%, 5/15/11 $ 565 $ 666,700
12.75%, 9/01/07 65 76,700
---------------
743,400
---------------
Mexico-7.6%
United Mexican States
7.50%, 1/14/12 875 991,375
8.00%, 9/24/22(c) 4,472 5,158,452
8.125%, 12/30/19(c) 5,135 6,041,328
11.375%, 9/15/16(c) 1,296 1,910,952
---------------
14,102,107
---------------
Panama-1.1%
Republic of Panama
2.75%, 7/17/14 (a) 195 190,913
8.875%, 9/30/27 100 110,400
9.375%, 7/23/12 170 201,450
9.375%, 4/01/29 306 359,550
9.625%, 2/08/11 225 264,938
10.75%, 5/15/20 680 884,000
---------------
2,011,251
---------------
Peru-1.3%
Republic of Peru
8.375%, 5/03/16 775 868,000
8.75%, 11/21/33 75 81,563
9.125%, 2/21/12 290 338,575
9.875%, 2/06/15 876 1,081,860
---------------
2,369,998
---------------
Philippines-2.1%
Republic of Philippines
9.00%, 2/15/13 75 76,500
9.875%, 1/15/19(c) 2,600 2,665,000
10.625%, 3/16/25(c) 1,024 1,093,120
---------------
3,834,620
---------------
Russia-20.1%
Ministry Finance of Russia
Series V
3.00%, 5/14/08 2,905 2,707,170
Series VII
3.00%, 5/14/11 1,420 1,194,646
Russian Federation
5.00%, 3/31/30(a)(d) 30,060 30,999,375
5.00%, 3/31/30(a) 2,350 2,423,437
---------------
37,324,628
---------------
Turkey-3.1%
Republic of Turkey
11.00%, 1/14/13 610 776,225
11.50%, 1/23/12(c) 2,625 3,373,125
11.75%, 6/15/10 750 941,250
12.375%, 6/15/09 490 614,950
---------------
5,705,550
---------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Ukraine-2.2%
Ukraine Government
6.875%, 3/04/11(d) $ 750 $ 769,612
6.875%, 3/04/11 175 179,576
7.65%, 6/11/13 1,765 1,878,843
11.00%, 3/15/07 1,097 1,173,138
---------------
4,001,169
---------------
Uruguay-0.7%
Republic of Uruguay
7.875%, 1/15/33 1,483 1,316,462
---------------
Venezuela-3.4%
Republic of Venezuela
3.09%, 4/20/11 (a) 250 226,875
5.375%, 8/07/10 690 647,910
8.50%, 10/08/14 255 270,300
9.25%, 9/15/27 4,975 5,248,625
---------------
6,393,710
---------------
Total Sovereign Debt Securities
(cost $89,037,249) 114,520,456
---------------
U.S. CORPORATE DEBT OBLIGATIONS-43.9%
Aerospace/Defense-0.8%
DRS Technologies, Inc.
6.875%, 11/01/13 325 339,625
L-3 Communications Corp.
5.875%, 1/15/15 (d) 340 339,150
Sequa Corp.
9.00%, 8/01/09 210 237,825
TD Funding Corp.
8.375%, 7/15/11 450 482,625
---------------
1,399,225
---------------
Automotive-1.2%
Cooper Standard Auto
7.00%, 12/15/12 (d) 295 295,737
HLI Operating, Inc.
10.50%, 6/15/10* 471 505,148
Keystone Automotive Operations, Inc.
9.75%, 11/01/13 365 390,550
TRW Automotive, Inc.
9.375, 2/15/13 91 105,560
11.00%, 2/15/13 156 187,980
United Auto Group, Inc.
9.625%, 3/15/12 260 287,300
United Rentals North America, Inc.
6.50%, 2/15/12 494 481,650
---------------
2,253,925
---------------
Broadcasting & Media-1.1%
Albritton Communications Co.
7.75%, 12/15/12 385 398,475
Emmis Operating Co.
6.875%, 5/15/12 335 350,493
PRIMEDIA, Inc.
8.00%, 5/15/13 315 324,056
8.875%, 5/15/11 305 322,538
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Radio One, Inc.
8.875%, 7/01/11 $ 235 $ 255,856
Sinclair Broadcast Group, Inc.
8.00%, 3/15/12 90 95,625
8.75%, 12/15/11 265 288,519
---------------
2,035,562
---------------
Building & Real Estate-2.0%
Associated Materials, Inc
11.25%, 3/01/14(e) 935 673,200
Dayton Superior Corp.
10.75%, 9/15/08 180 192,600
D.R. Horton, Inc.
6.875%, 5/01/13 340 368,050
KB HOME
7.75%, 2/01/10 520 562,900
Meritage Corp.
9.75%, 6/01/11 440 486,200
Nortek, Inc
8.50%, 9/01/14(d) 490 512,050
Schuler Homes, Inc.
10.50%, 7/15/11 360 409,500
William Lyon Homes, Inc.
10.75%, 4/01/13 510 573,113
---------------
3,777,613
---------------
Cable-2.2%
Cablevision Systems Corp.
8.00%, 4/15/12(d) 670 715,225
Charter Communications Operating LLC
8.00%, 4/30/12(d) 1,000 1,040,000
CSC Holdings, Inc.
6.75%, 4/15/12(d) 270 278,100
7.625%, 7/15/18. 405 428,287
DirectTV Holdings LLC
8.375%, 3/15/13 285 319,556
Echostar DBS Corp.
6.375%, 10/01/11 460 470,350
Insight Midwest LP
9.75%, 10/01/09 380 398,050
Rogers Cable, Inc.
6.75%, 3/15/15 (d) 485 495,913
---------------
4,145,481
---------------
Chemicals-0.9%
Equistar Chemical Funding LP
10.125%, 9/01/08 520 599,300
10.625%, 5/01/11 130 150,800
Huntsman Advanced Materials LLC
11.00%, 7/15/10(d) 275 327,250
Huntsman International LLC
9.875%, 3/01/09 325 356,687
Westlake Chemical Corp.
8.75%, 7/15/11 270 305,100
---------------
1,739,137
---------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Communications-Fixed-2.3%
Cincinnati Bell, Inc
8.375%, 1/15/14* $ 635 $ 642,937
Citizens Communications Co.
6.25%, 1/15/13 485 488,637
FairPoint Communications, Inc.
11.875%, 3/01/10 300 351,000
MCI, Inc.
7.688%, 5/01/09 265 274,275
8.735%, 5/01/14 275 295,625
Qwest Communications International, Inc.
7.50%, 2/15/14(d) 205 207,050
Qwest Corp.
9.125%, 3/15/12(d) 1,420 1,640,100
Time Warner Telecom, Inc.
9.25%, 2/15/14* 460 469,200
---------------
4,368,824
---------------
Communications-Mobile-1.7%
Iridium LLC Capital Corp.
Series B
14.00%, 7/15/05(b) 5,000 862,500
Nextel Communications, Inc.
6.875%, 10/31/13 480 520,800
5.95%, 3/15/14 240 248,400
PanAmSat Corp.
9.00%, 8/15/14(d) 690 770,213
Rogers Wireless Communications, Inc.
7.25%, 12/15/12(d) 275 291,500
Rural Cellular Corp.
8.25%, 3/15/12(d) 240 253,800
TeleCorp PCS, Inc.
10.625%, 7/15/10 203 221,281
---------------
3,168,494
---------------
Consumer Manufacturing-1.4%
Broder Brothers Co.
11.25%, 10/15/10(d) 132 137,940
11.25%, 10/15/10 500 522,500
Jostens, Inc.
7.625%, 10/01/12(d) 335 348,400
12.75%, 5/01/10 605 663,231
K2, Inc
7.375%, 7/01/14(d) 355 388,725
Playtex Products, Inc.
8.00%, 3/01/11 315 344,138
St. John Knits International, Inc.
12.50%, 7/01/09 200 213,250
---------------
2,618,184
---------------
Energy-3.5%
Amerada Hess Corp.
7.30%, 8/15/31 435 485,286
Chesapeake Energy Corp.
7.75%, 1/15/15 350 380,625
Grant Prideco, Inc.
9.00%, 12/15/09 360 398,700
Hilcorp Energy
10.50%, 9/01/10(d) 770 870,100
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Northwest Pipelines Corp.
8.125%, 3/01/10 $ 310 $ 342,938
Premco Refining Group, Inc.
9.50%, 2/01/13 250 290,000
Pride International, Inc.
7.375%, 7/15/14 395 431,538
Reliant Energy, Inc.
6.75%, 12/15/14 330 330,000
9.50%, 7/15/13 430 488,588
Southern Natural Gas Co.
7.35%, 2/15/31 365 378,688
8.875%, 3/15/10 290 324,800
Universal Compression, Inc.
7.25%, 5/15/10 220 234,850
Williams Cos, Inc.
7.625%, 7/15/19 1,345 1,479,500
---------------
6,435,613
---------------
Entertainment & Leisure-0.5%
Gaylord Entertainment Co.
8.00%, 11/15/13 315 340,200
Universal City Development Partners
11.75%, 4/01/10 425 502,031
Universal City Florida Holdings
8.375%, 5/01/10 (d) 110 114,125
---------------
956,356
---------------
Financial-2.0%
Crum & Foster Holdings Corp.
10.375%, 6/15/13. 195 217,425
Markel Capital Trust I
Series B
8.71%, 1/01/46(f) 615 645,750
Nationwide CSN Trust
9.875%, 2/15/25(d) 1,000 1,052,884
PXRE Capital Trust I
8.85%, 2/01/27 510 517,650
Western Financial Bank
9.625%, 5/15/12 420 478,800
Williams Scotsman, Inc.
9.875%, 6/01/07 740 740,000
---------------
3,652,509
---------------
Food/Beverage-0.9%
Del Monte Food Co.
8.625%, 12/15/12 145 162,400
9.25%, 5/15/11 255 279,225
DIMON, Inc.
7.75%, 6/01/13 110 115,500
Series B
9.625%, 10/15/11 395 432,525
Dole Food Company, Inc.
8.625%, 5/01/09 240 261,000
8.875%, 3/15/11 145 157,687
Merisant Co.
9.50%, 7/15/13(d) 300 267,000
---------------
1,675,337
---------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Gaming-3.2%
Ameristar Casinos, Inc.
10.75%, 2/15/09 $ 215 $ 239,725
Argosy Gaming Co.
9.00%, 9/01/11 220 245,300
Boyd Gaming Corp.
7.75%, 12/15/12 255 278,268
Harrah's Operating Company, Inc.
7.875%, 12/15/05 215 224,138
MGM Mirage, Inc.
8.375%, 2/01/11* 575 648,313
Mandalay Resort Group
10.25%, 8/01/07 530 598,900
Mohegan Tribal Gaming
6.375%, 7/15/09 140 143,850
7.125%, 8/15/14 695 731,488
Park Place Entertainment
7.00%, 4/15/13 305 336,263
7.875%, 3/15/10 135 152,044
9.375%, 2/15/07 230 254,150
Riviera Holdings Corp.
11.00%, 6/15/10 300 335,250
Seneca Gaming Corp.
7.25%, 5/01/12 765 805,163
Turning Stone Casino Resort Enterprise
9.125%, 12/15/10(d) 270 292,275
Venetian Casino Resort, LLC
11.00%, 6/15/10 570 650,513
---------------
5,935,640
---------------
Healthcare-2.7%
Concentra Operating Corp.
9.125%, 6/01/12(d) 175 197,750
9.50%, 8/15/10 200 226,000
Extendicare Health Services
9.50%, 7/01/10 315 352,800
Genesis HealthCare Corp.
8.00%, 10/15/13 330 358,050
HCA, Inc.
6.375%, 1/15/15 625 627,530
7.875%, 2/01/11 455 501,182
IASIS Healthcare LLC
8.75%, 6/15/14 490 534,100
PacifiCare Health Systems, Inc.
10.75%, 6/01/09 380 438,900
Select Medical Corp.
7.50%, 8/01/13 690 779,700
Triad Hospitals, Inc.
7.00%, 11/15/13 520 531,700
Universal Hospital Services, Inc.
10.125%, 11/01/11 440 457,600
---------------
5,005,312
---------------
Hotels & Lodging-1.1%
Corrections Corp. of America
7.50%, 5/01/11 40 42,750
9.875%, 5/01/09 260 288,600
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Host Marriott LP
9.25%, 10/01/07 $ 100 $ 111,500
9.50%, 1/15/07 310 339,450
La Quinta Corp.
8.875%, 3/15/11 375 418,125
Starwood Hotels & Resorts Worldwide, Inc.
7.875%, 5/01/12 400 457,000
Vail Resorts, Inc.
6.75%, 2/15/14 355 361,213
---------------
2,018,638
---------------
Index-2.5%
Dow Jones CDX HY
7.75%, 12/29/09(d)* 4,500 4,626,563
---------------
Industrial-2.7%
AMSTED Industries, Inc.
10.25%, 10/15/11(d) 465 525,450
Case New Holland, Inc.
9.25%, 8/01/11(d) 645 717,562
FastenTech, Inc.
12.50%, 5/01/11(d) 325 373,750
Flowserve Corp.
12.25%, 8/15/10 370 410,700
Goodman Global Holdings, Inc.
7.875%, 12/15/12 (d) 475 473,218
H & E Equipment/Finance
11.125%, 6/15/12 600 660,000
NMHG Holding Co.
10.00%, 5/15/09 220 243,100
SPX Corp.
7.50%, 1/01/13 205 222,425
Terex Corp.
10.375%, 4/01/11 375 420,000
TriMas Corp.
9.875%, 6/15/12 470 498,200
Trinity Industries, Inc.
6.50%, 3/15/14 530 530,000
---------------
5,074,405
---------------
Metals/Mining-0.7%
AK Steel Corp.
7.875%, 2/15/09 355 361,656
International Steel Group, Inc.
6.50%, 4/15/14 437 468,683
Peabody Energy Corp.
6.875%, 3/15/13 380 411,350
---------------
1,241,689
---------------
Paper & Packaging-2.8%
Ball Corp.
6.875%, 12/15/12 1,000 1,075,000
Berry Plastics Corp.
10.75%, 7/15/12 390 446,550
Crown Paper Co.
11.00%, 9/01/05(b) 5,000 1
Georgia-Pacific Corp.
8.875%, 5/15/31 230 287,500
9.375%, 2/01/13 715 832,975
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Graphic Packaging Int'l Corp.
9.50%, 8/15/13 $ 655 $ 745,063
Greif Bros. Corp.
8.875%, 8/01/12 260 289,250
Owens-Brockway Glass Container, Inc.
8.875%, 2/15/09 735 798,394
Russell-Stanley Holdings, Inc.
9.00%, 11/30/08(d)(g)(h) 874 87,372
Stone Container Corp.
9.25%, 2/01/08 535 593,850
9.75%, 2/01/11 12 13,140
---------------
5,169,095
---------------
Publishing-1.1%
American Media, Inc.
8.875%, 1/15/11 105 111,693
10.25%, 5/01/09 475 500,531
Dex Media East LLC
9.875%, 11/15/09 110 125,262
12.125%, 11/15/12 195 237,656
Dex Media West LLC
8.50%, 8/15/10 160 178,000
9.875%, 8/15/13 571 658,077
PEI Holdings, Inc.
11.00%, 3/15/10 143 166,595
---------------
1,977,814
---------------
Restaurants-0.1%
Domino's, Inc.
8.25%, 7/01/11 237 258,922
---------------
Retail-0.4%
J.C. Penney Corporation, Inc.
8.00%, 3/01/10 455 519,838
Petro Stopping Centers LP
9.00%, 2/15/12 250 264,375
---------------
784,213
---------------
Service-1.0%
Allied Waste North America
6.375%, 4/15/11 400 387,000
8.875%, 4/01/08 305 326,350
National Waterworks, Inc.
10.50%, 12/01/12 235 264,375
Service Corp. International
6.50%, 3/15/08 595 614,338
7.70%, 4/15/09 240 259,200
---------------
1,851,263
---------------
Supermarket & Drugstore-1.1%
Couche-Tard, Inc.
7.50%, 12/15/13 298 319,605
Rite Aid Corp.
9.25%, 6/01/13 75 75,750
9.50%, 2/15/11 615 674,963
Roundy's, Inc.
Series B
8.875%, 6/15/12 250 273,125
Stater Bros. Holdings, Inc.
8.125%, 6/15/12 595 629,213
---------------
1,972,656
---------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Technology-1.8%
Amkor Technologies, Inc.
7.75%, 5/15/13 $ 1,165 $ 1,095,100
Fairchild Semiconductor
10.50%, 2/01/09 470 495,850
MagnaChip Semiconductor, Ltd.
5.76%, 12/15/11 (a)(d) 250 256,875
8.00%, 12/15/14 (d) 215 224,138
Unisys Corp.
6.875%, 3/15/10 1,000 1,070,000
7.875%, 4/01/08 185 189,625
---------------
3,331,588
---------------
Utilities- Electric & Gas-2.2%
AES Corporation
8.75%, 5/15/13(d) 65 73,856
9.00%, 5/15/15(d) 105 120,225
Calpine Corp.
8.50%, 7/15/10(d) 715 613,112
DPL, Inc.
6.875%, 9/01/11 225 245,729
DPL Capital Trust II
8.125%, 9/01/31 320 362,527
Dynegy Holdings, Inc.
10.125%, 7/15/13(d) 610 698,450
NRG Energy, Inc.
8.00%, 12/15/13(d) 490 534,100
Ormat Funding Corp.
8.25%, 12/30/20 (d) 394 393,937
SEMCO Energy, Inc.
7.125%, 5/15/08 125 133,784
7.75%, 5/15/13 235 258,059
Texas Genco LLC
6.875%, 12/15/14 (d) 285 294,619
TXU Corp.
5.55%, 11/15/14 (d) 340 337,759
---------------
4,066,157
---------------
Total U.S. Corporate Debt Obligations
(cost $89,465,639) 81,540,215
---------------
NON-U.S. CORPORATE DEBT OBLIGATIONS-8.1%
Bahamas-0.1%
Sun International Hotels, Ltd.
8.875%, 8/15/11 245 267,663
---------------
Bermuda-0.4%
NCL Corp
10.625%, 7/15/14(d) 685 685,000
---------------
Brazil-0.7%
PF Export Receivables Master Trust
6.436%, 6/01/15(d) 1,271 1,263,170
---------------
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Canada-1.3%
Bombardier, Inc.
6.30%, 5/01/14 (d) $ 400 $ 347,000
Celestica, Inc.
7.875%, 7/01/11 610 654,225
Fairfax Financial Holdings
7.375%, 4/15/18 250 237,500
7.75%, 4/26/12 510 520,200
Intrawest Corp.
7.50%, 10/15/13 195 207,431
Ispat Inland ULC
9.75%, 4/01/14 114 140,790
Russel Metals, Inc.
6.375%, 3/01/14 345 350,175
---------------
2,457,321
---------------
France-0.2%
Crown Euro Holdings S.A.
9.50%, 3/01/11 405 461,700
---------------
Great Britian-0.6%
Inmarsat Finance PLC
7.625%, 6/30/12 560 582,400
Royal & Sun Alliance Insurance Group PLC
8.95%, 10/15/29 420 530,383
---------------
1,112,783
---------------
Ireland-0.5%
Eircom Funding
8.25%, 8/15/13 430 475,150
MDP Acquisitions PLC
9.625%, 10/01/12 390 434,850\
---------------
910,000
---------------
Kazakhstan-0.4%
Hurricane Finance BV
9.625%, 2/12/10(d) 400 440,440
Kazkommerts International BV
8.50%, 4/16/13(d) 350 365,750
---------------
806,190
---------------
Liberia-0.4%
Royal Caribbean Cruises, Ltd.
8.00%, 5/15/10 625 706,250
---------------
Mexico-2.5%
Innova S. de R.L.
9.375%, 9/19/13 2,865 3,258,938
12.875%, 4/01/07 1,003 1,010,724
Vitro Envases Norteamerica
10.75%, 7/23/11(d) 420 435,750
---------------
4,705,412
---------------
Romania-0.3%
Mobifon Holdings BV
12.50%, 7/31/10 425 504,156
---------------
Shares or
Principal
Amount
(000) U.S. $ Value
--------------------------------------------------------------------------------
Russia-0.5%
Gazprom OAO
9.625%, 3/01/13(d) $ 150 $ 177,000
Mobile Telesystems Finance S.A.
9.75%, 1/30/08 525 554,400
9.75%, 1/30/08(d) 100 105,500
Tyumen Oil
11.00%, 11/06/07(d) 70 79,800
---------------
916,700
---------------
Singapore-0.2%
Flextronics International, Ltd.
6.50%, 5/15/13 420 430,500
---------------
Total Non-U.S. Corporate Debt Obligations
(cost $14,073,782) 15,226,845
---------------
NON-CONVERTIBLE PREFERRED STOCK-0.7%
Sovereign Real Estate Investment Trust
12.00%(d) 870 1,318,050
---------------
Total Non-Convertible Preferred Stock
(cost $818,725) 1,318,050
---------------
WARRANTS(i)-0.0%
Central Bank of Nigeria
Warrants, expiring 11/15/20 1,000 0
Republic of Venezuela
Warrants, expiring 4/15/20 7,140 0
---------------
Total Warrants
(cost $0) 0
---------------
SHORT-TERM INVESTMENT - 1.6%
Repurchase Agreement-1.6%
Greenwich Capital Markets Inc.
2.00%, dated 12/31/04, due 1/03/05 in
the amount of $3,000,500 (collaterized
by $3,065,000 FNMA, 2.05 % due 1/10/05,
value - $3,000,000) (cost $3,000,000) $ 3,000 3,000,000
---------------
Total Investments Before Security
Lending Collateral - 115.9%
(cost $196,395,395) 215,605,566
---------------
Investments of Cash Collateral for
Securites Loaned - 1.8%
Short-Term Investment
UBS Private Money Market Fund, LLC
2.16%
(cost $3,391,500) 3,392 3,391,500
---------------
Total Investments - 117.7%
(cost $199,786,895) 218,997,066
Other Assets Less Liabilities - (17.7)% (33,062,097)
---------------
Net Assets-100.0% $ 185,934,969
---------------
CALL OPTIONS WRITTEN
Exercise Expiration
Description Contracts (j) Price Month U.S. $ Value
-----------------------------------------------------------------------------------------------
Federal Republic of Brazil
11.00%, 8/17/40 375,000 $117.65 Jan. '05 $ (6,000)
11.00%, 8/17/40 300,000 118.10 Jan. '05 (4,200)
11.00%, 8/17/40 100,000 118.15 Jan. '05 (1,300)
11.00%, 8/17/40 300,000 118.50 Jan. '05 (3,900)
11.00%, 8/17/40 150,000 118.75 Jan. '05 (1,800)
------------
$ (17,200)
============
(premiums received $17,663)
CREDIT DEFAULT SWAP CONTRACTS
Notional Unrealized
Swap Counterparty & Amount Interest Termination Appreciation/
Reference Obligation (000) Rate Date (Depreciation)
------------------------------------------------------------------------------------------------------------
Buy Contracts:
Citigroup Global Markets, Inc
Federal Republic of Hungary
4.50%, 2/06/13 $ 350 0.5% 11/26/13 $ (6,584)
Citigroup Global Markets, Inc.
Federal Republic of Philippines
10.625%, 3/16/25 510 5.6 3/20/14 (3,012)
Sale Contracts:
Citigroup Global Markets, Inc.
Federal Republic of Brazil
12.25%, 3/06/30 900 4.40 5/20/06 46,520
Citigroup Global Markets, Inc.
Federal Republic of Brazil
12.25%, 3/06/30 1,000 6.35 8/20/05 61,236
Credit Suisse First Boston Int'l.
Federal Republic of Brazil
12.25%, 3/06/30 750 6.90 6/20/07 94,825
Morgan Stanley Dean Witter
Federal Republic of Brazil
12.25%, 3/06/30 680 3.80 8/20/06 40,275
Citigroup Global Markets, Inc.
Federal Republic of Philippines
10.625%, 3/16/25 510 4.95 3/20/09 10,934
REVERSE REPURCHASE AGREEMENTS
Broker Interest Rate Maturity Amount
--------------------------------------------------------------------------------
Barclays Securites 2.15% 12/30/05 $ 9,385,602
Chase Manhattan Bank 0.40 12/30/05 1,435,999
Chase Manhattan Bank 0.75 12/30/05 2,561,150
Chase Manhattan Bank 1.60 12/30/05 1,072,565
Chase Manhattan Bank 2.15 12/30/05 2,563,094
Chase Manhattan Bank 2.25 12/30/05 2,534,073
Citigroup Global Markets, Inc. 1.95 12/30/05 3,574,228
Citigroup Global Markets, Inc. 2.10 12/30/05 8,445,786
Santander Investment Securities 1.60 12/30/05 1,735,862
Santander Investment Securities 1.95 12/30/05 1,146,572
------------
$ 34,454,931
------------
* Represents entire or partial securities out on loan.
(a) Coupon changes periodically based upon a predetermined schedule. Stated
interest rate in effect at December 31, 2004.
(b) Security is in default and is non-income producing.
(c) Positions, or portions thereof, with an aggregate market value of
$33,756,751 have been segregated to collateralize reverse repurchase
agreements.
(d) Security is exempt from registration under Rule 144A of the Securities Act
of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers. At December 31,
2004, the aggregate market value of these securities amounted to
$60,354,733 or 32.5% of net assets.
(e) Indicates a security that has a zero coupon that remains in effect until a
predetermined date at which time the stated coupon rate becomes effective
until final maturity.
(f) Illiquid security, valued at fair market value.
(g) Security exempt from registration under Rule 144A of the Securites Act of
1933. This security, which represents 0.05% of net assets as of December
31, 2004, is considered illiquid and restricted.
Acquisition Acquisition Market Percentage of
Restricted Security Date Cost Value Net Assets
---------------------------------------------------------------------------------------------
Russell-Stanley Holdings, Inc. 2/26/99- $5,082,152 $87,372 0.05%
9.00%; 11/30/08 11/30/04
(h) Payment in kind (PIK) semii-annual coupon payment.
(i) Non-income producing security.
(j) One contract relates to principal amount of $1.00.
Glossary of Terms:
DCB - Debt Conversion Bond
FRN - Floating Rate Note
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive officer and principal financial officer
have concluded that the registrant's disclosure controls and procedures (as
defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended)
are effective at the reasonable assurance level based on their evaluation of
these controls and procedures as of a date within 90 days of the filing date of
this document.
(b) There were no significant changes in the registrant's internal controls 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.
The following exhibits are attached to this Form N-Q:
EXHIBIT NO. DESCRIPTION OF EXHIBIT
----------- ----------------------
11(a)(1) Certification of Principal Executive Officer Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
11(a)(2) Certification of Principal Financial Officer Pursuant to
Section 302 of the Sarbanes-Oxley Act of 2002
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): ACM Managed Dollar Income Fund, Inc.
By: /s/ Marc O. Mayer
-----------------
Marc O. Mayer
President
Date: February 28, 2005
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.
By: /s/ Marc O. Mayer
-----------------
Marc O. Mayer
President
Date: February 28, 2005
By: /s/ Mark D. Gersten
-------------------
Mark D. Gersten
Treasurer and Chief Financial Officer
Date: February 28, 2005