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 811-21318
Name of Fund: Corporate High Yield Fund VI, Inc.
Fund Address: P.O. Box 9011
Princeton, NJ 08543-9011
Name and address of agent for service: Robert C. Doll, Jr., Chief Executive
Officer, Corporate High Yield Fund VI, Inc., 800 Scudders Mill Road,
Plainsboro, NJ 08536. Mailing address: P.O. Box 9011, Princeton, NJ
08543-9011
Registrant's telephone number, including area code: (609) 282-2800
Date of fiscal year end: 08/31/05
Date of reporting period: 03/01/05 - 05/31/05
Item 1 - Schedule of Investments
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
Face
Industry+ Amount Corporate Bonds Value
-------------------------------------------------------------------------------------------------------------------------------
Aerospace & Defense - 5.0% $ 3,901,000 Alliant Techsystems, Inc., 3% due 8/15/2024 (a)(h) $ 4,291,100
3,650,000 DRS Technologies, Inc., 6.875% due 11/01/2013 (a) 3,723,000
1,600,000 Esterline Technologies Corp., 7.75% due 6/15/2013 1,704,000
1,300,000 K&F Acquisition, Inc., 7.75% due 11/15/2014 (a) 1,300,000
2,875,000 Standard Aero Holdings, Inc., 8.25% due 9/01/2014 (a) 3,011,563
3,300,000 Titan Corp., 8% due 5/15/2011 3,531,000
4,050,000 Transdigm, Inc., 8.375% due 7/15/2011 4,212,000
3,825,000 Vought Aircraft Industries, Inc., 8% due 7/15/2011 3,738,938
-------------
25,511,601
-------------------------------------------------------------------------------------------------------------------------------
Airlines - 2.5% 4,325,000 American Airlines, Inc. Series 2001-2, 7.80% due 4/01/2008 3,918,094
Continental Airlines, Inc.:
1,500,000 8% due 12/15/2005 1,468,125
3,454,647 Series 1997-4-B, 6.90% due 1/02/2017 2,694,859
120,151 Series 1998-1-C, 6.541% due 9/15/2009 103,216
1,300,000 Series 1998-3, 7.25% due 11/01/2005 1,247,673
1,773,019 Series 2001-1-C, 7.033% due 6/15/2011 1,459,620
Delta Air Lines, Inc.:
2,150,000 7.90% due 12/15/2009 806,250
3,260,000 2.875% due 2/18/2024 (a)(h) 1,210,275
-------------
12,908,112
-------------------------------------------------------------------------------------------------------------------------------
Automotive - 0.9% 2,475,000 Autocam Corp., 10.875% due 6/15/2014 1,181,812
Metaldyne Corp.:
2,850,000 11% due 6/15/2012 2,023,500
1,924,000 10% due 11/01/2013 (a) 1,616,160
-------------
4,821,472
-------------------------------------------------------------------------------------------------------------------------------
Broadcasting - 5.3% 4,325,000 Granite Broadcasting Corp., 9.75% due 12/01/2010 3,957,375
2,225,000 Nextmedia Operating, Inc., 10.75% due 7/01/2011 2,425,250
Paxson Communications Corp.:
3,425,000 10.75% due 7/15/2008 3,356,500
950,000 12.121%* due 1/15/2009 878,750
2,800,000 Radio One, Inc., 6.375% due 2/15/2013 (a) 2,765,000
5,250,000 Salem Communications Corp., 7.75% due 12/15/2010 5,433,750
Sinclair Broadcast Group, Inc.:
650,000 8% due 3/15/2012 674,375
5,030,000 Class A, 4.875% due 7/15/2018 (h) 4,445,263
3,775,000 Young Broadcasting, Inc., 8.75% due 1/15/2014 3,416,375
-------------
27,352,638
-------------------------------------------------------------------------------------------------------------------------------
Cable - International - 0.7% 3,550,000 NTL Cable Plc, 8.141% due 10/15/2012 (c) 3,621,000
-------------------------------------------------------------------------------------------------------------------------------
Cable - U.S. - 8.3% 1,300,000 Adelphia Communications Corp., 6% due 2/15/2006 (b)(h) 68,250
3,750,000 CSC Holdings, Inc. Series B, 7.625% due 4/01/2011 3,975,000
3,125,000 Century Communications Series B, 9.05% due 1/15/2008 (b) 1,890,625
8,000,000 Charter Communications Holdings LLC, 10% due 4/01/2009 6,160,000
1,625,000 Charter Communications, Inc., 5.875% due 11/16/2009 (a)(h) 999,375
Intelsat Bermuda Ltd. (a):
4,200,000 7.794% due 1/15/2012 (c) 4,263,000
4,575,000 8.625% due 1/15/2015 4,695,094
5,975,000 Loral Cyberstar, Inc., 10% due 7/15/2006 (b) 4,526,062
6,225,000 Mediacom Broadband LLC, 11% due 7/15/2013 6,738,562
700,000 Mediacom LLC, 9.50% due 1/15/2013 694,750
New Skies Satellites BV (a):
1,325,000 8.539% due 11/01/2011 (c) 1,338,250
1,600,000 9.125% due 11/01/2012 1,584,000
2,250,000 Quebecor Media, Inc., 10.533%* due 7/15/2011 2,227,500
3,100,000 Rainbow National Services LLC, 10.375% due 9/01/2014 (a) 3,534,000
-------------
42,694,468
-------------------------------------------------------------------------------------------------------------------------------
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
Face
Industry+ Amount Corporate Bonds Value
-------------------------------------------------------------------------------------------------------------------------------
Chemicals - 8.5% $ 2,434,000 BCP Caylux Holdings Luxembourg SCA, 9.625% due 6/15/2014 (a) $ 2,732,165
Crompton Corp.:
2,800,000 9.164% due 8/01/2010 (c) 3,129,000
2,225,000 9.875% due 8/01/2012 2,530,937
3,355,000 Huntsman International, LLC, 10.125% due 7/01/2009 3,480,812
3,575,000 ISP Holdings, Inc. Series B, 10.625% due 12/15/2009 3,816,313
3,225,000 Innophos, Inc., 8.875% due 8/15/2014 (a) 3,144,375
Millennium America, Inc.:
3,750,000 7% due 11/15/2006 3,825,000
1,600,000 9.25% due 6/15/2008 1,724,000
Nalco Co.:
800,000 7.75% due 11/15/2011 836,000
1,825,000 8.875% due 11/15/2013 1,907,125
2,143,000 Nalco Finance Holdings, Inc., 9.11%* due 2/01/2014 1,521,530
5,100,000 Omnova Solutions, Inc., 11.25% due 6/01/2010 5,304,000
1,200,000 PCI Chemicals Canada, Inc., 10% due 12/31/2008 1,254,000
PolyOne Corp.:
4,475,000 10.625% due 5/15/2010 4,844,188
350,000 8.875% due 5/01/2012 361,813
3,171,000 Terra Capital, Inc., 11.50% due 6/01/2010 3,583,230
-------------
43,994,488
-------------------------------------------------------------------------------------------------------------------------------
Consumer - Durables - 0.7% 2,275,000 Sealy Mattress Co., 8.25% due 6/15/2014 2,303,438
1,300,000 Tempur-Pedic, Inc., 10.25% due 8/15/2010 1,443,000
-------------
3,746,438
-------------------------------------------------------------------------------------------------------------------------------
Consumer - Non-Durables - 2.9% Chattem, Inc.:
2,550,000 6.33% due 3/01/2010 (c) 2,575,500
950,000 7% due 3/01/2014 971,375
1,925,000 Church & Dwight Co., Inc., 6% due 12/15/2012 (a) 1,925,000
5,725,000 Hines Nurseries, Inc., 10.25% due 10/01/2011 5,896,750
3,575,000 Samsonite Corp., 8.875% due 6/01/2011 3,753,750
-------------
15,122,375
-------------------------------------------------------------------------------------------------------------------------------
Diversified Media - 7.8% 3,825,000 CBD Media, Inc., 8.625% due 6/01/2011 3,825,000
3,625,000 CanWest Media, Inc., 8% due 9/15/2012 (a) 3,770,000
2,856,000 Dex Media West LLC, 9.875% due 8/15/2013 3,262,980
Houghton Mifflin Co.:
4,300,000 8.25% due 2/01/2011 4,472,000
2,825,000 10.377%* due 10/15/2013 (a) 1,935,125
9,300,000 Liberty Media Corp., 0.75% due 3/30/2023 (h) 9,974,250
Primedia, Inc.:
679,000 7.625% due 4/01/2008 684,093
2,375,000 8.875% due 5/15/2011 2,493,750
Universal City Florida Holding Co. I:
2,800,000 7.96% due 5/01/2010 (c) 2,912,000
1,675,000 8.375% due 5/01/2010 1,725,250
5,474,000 Yell Finance BV, 9.788%* due 8/01/2011 5,337,150
-------------
40,391,598
-------------------------------------------------------------------------------------------------------------------------------
Energy - Exploration & 3,175,000 Belden & Blake Corp., 8.75% due 7/15/2012 2,873,375
Production - 1.5% 4,250,000 Plains Exploration & Production Co. Series B, 8.75% due 7/01/2012 4,632,500
-------------
7,505,875
-------------------------------------------------------------------------------------------------------------------------------
Energy - Other - 3.7% 1,475,000 Aventine Renewable Energy Holdings, Inc., 9.41%
due 12/15/2011 (a)(c) 1,342,250
3,975,000 Dresser, Inc., 9.375% due 4/15/2011 4,143,937
1,127,000 Energy Corp. of America Series A, 9.50% due 5/15/2007 1,124,182
6,075,000 Ocean Rig Norway AS, 10.25% due 6/01/2008 6,181,313
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
Face
Industry+ Amount Corporate Bonds Value
-------------------------------------------------------------------------------------------------------------------------------
Star Gas Partners LP:
$ 1,750,000 10.25% due 2/15/2013 $ 1,627,500
1,375,000 10.25% due 2/15/2013 (a) 1,278,750
Suburban Propane Partners, LP:
625,000 6.875% due 12/15/2013 587,500
3,175,000 6.875% due 12/15/2013 (a) 2,984,500
-------------
19,269,932
-------------------------------------------------------------------------------------------------------------------------------
Financial - 0.9% 4,625,000 Refco Finance Holdings LLC, 9% due 8/01/2012 4,833,125
-------------------------------------------------------------------------------------------------------------------------------
Food & Tobacco - 5.2% 1,300,000 AmeriQual Group LLC, 9% due 4/01/2012 (a) 1,306,500
Commonwealth Brands, Inc. (a):
1,000,000 9.75% due 4/15/2008 1,047,500
4,750,000 10.625% due 9/01/2008 4,975,625
4,475,000 Cott Beverages USA, Inc., 8% due 12/15/2011 4,743,500
Del Monte Corp.:
1,950,000 8.625% due 12/15/2012 2,125,500
800,000 6.75% due 2/15/2015 (a) 798,000
2,550,000 Doane Pet Care Co., 10.75% due 3/01/2010 2,696,625
2,075,000 Merisant Co., 10.25% due 7/15/2013 (a) 1,514,750
3,475,000 New World Pasta Co., 9.25% due 2/15/2009 (b) 243,250
3,550,000 Smithfield Foods, Inc. Series B, 8% due 10/15/2009 3,834,000
2,150,000 Tabletop Holdings Inc., 12.25%* due 5/15/2014 (a) 774,000
2,625,000 The Wornick Co., 10.875% due 7/15/2011 2,625,000
-------------
26,684,250
-------------------------------------------------------------------------------------------------------------------------------
Gaming - 6.3% 5,275,000 Boyd Gaming Corp., 8.75% due 4/15/2012 5,723,375
2,300,000 Caesars Entertainment, Inc., 7.875% due 3/15/2010 2,541,500
3,100,000 Inn of the Mountain Gods Resort & Casino, 12% due 11/15/2010 3,596,000
2,575,000 MGM Mirage, 9.75% due 6/01/2007 2,784,219
5,925,000 Majestic Star Casino LLC, 9.50% due 10/15/2010 6,147,187
2,425,000 Pinnacle Entertainment, Inc., 8.25% due 3/15/2012 2,437,125
4,350,000 Poster Financial Group, Inc., 8.75% due 12/01/2011 4,382,625
4,400,000 Resorts International Hotel and Casino, Inc., 11.50% due 3/15/2009 4,994,000
-------------
32,606,031
-------------------------------------------------------------------------------------------------------------------------------
Health Care - 7.8% Alpharma, Inc.:
4,775,000 3% due 6/01/2006 (h) 6,064,250
3,500,000 8.625% due 5/01/2011 (a) 3,421,250
4,400,000 DaVita, Inc., 7.25% due 3/15/2015 (a) 4,422,000
3,425,000 Elan Finance Plc, 7.268% due 11/15/2011 (a)(c) 2,962,625
6,150,000 Fresenius Medical Care Capital Trust II, 7.875% due 2/01/2008 6,442,125
4,625,000 Healthsouth Corp., 8.375% due 10/01/2011 4,590,312
2,400,000 Select Medical Corp., 7.625% due 2/01/2015 (a) 2,370,000
4,425,000 US Oncology, Inc., 9% due 8/15/2012 4,734,750
1,575,000 Vanguard Health Holding Co. II LLC, 9% due 10/01/2014 1,701,000
3,200,000 Ventas Realty LP, 6.75% due 6/01/2010 (a) 3,264,000
-------------
39,972,312
-------------------------------------------------------------------------------------------------------------------------------
Housing - 3.3% Building Materials Corp. of America:
2,500,000 8% due 10/15/2007 2,475,000
8,850,000 8% due 12/01/2008 8,772,562
Goodman Global Holding Co., Inc. (a):
775,000 6.621% due 6/15/2012 (c) 740,125
2,175,000 7.875% due 12/15/2012 1,957,500
2,525,000 Texas Industries, Inc., 10.25% due 6/15/2011 2,865,875
-------------
16,811,062
-------------------------------------------------------------------------------------------------------------------------------
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
Face
Industry+ Amount Corporate Bonds Value
-------------------------------------------------------------------------------------------------------------------------------
Information Technology - 5.6% $ 3,100,000 Advanced Micro Devices, Inc., 7.75% due 11/01/2012 $ 3,053,500
Amkor Technology, Inc.:
1,300,000 9.25% due 2/15/2008 1,179,750
3,275,000 7.125% due 3/15/2011 2,669,125
5,590,000 Cypress Semiconductor Corp., 1.25% due 6/15/2008 (h) 5,960,338
3,200,000 Freescale Semiconductor, Inc., 5.891% due 7/15/2009 (c) 3,312,000
MagnaChip SemiConductor SA (a):
1,050,000 6.66% due 12/15/2011 (c) 976,500
1,050,000 8% due 12/15/2014 913,500
3,130,000 Quantum Corp., 4.375% due 8/01/2010 (h) 2,730,925
1,300,000 Telcordia Technologies Inc., 10% due 3/15/2013 (a) 1,137,500
1,925,000 UGS Corp., 10% due 6/01/2012 2,117,500
5,600,000 Viasystems, Inc., 10.50% due 1/15/2011 4,984,000
-------------
29,034,638
-------------------------------------------------------------------------------------------------------------------------------
Leisure - 1.7% Felcor Lodging LP:
4,850,000 7.78% due 6/01/2011 (c) 4,983,375
2,500,000 9% due 6/01/2011 2,662,500
1,300,000 True Temper Sports, Inc., 8.375% due 9/15/2011 1,176,500
-------------
8,822,375
-------------------------------------------------------------------------------------------------------------------------------
Manufacturing - 5.9% 3,500,000 CPI Holdco, Inc., 8.83% due 2/01/2015 (a)(c) 3,395,000
1,275,000 Columbus McKinnon Corp., 8.50% due 4/01/2008 1,262,250
6,050,000 EaglePicher Inc., 9.75% due 9/01/2013 (b) 4,053,500
4,875,000 Invensys Plc, 9.875% due 3/15/2011 (a) 4,594,687
4,175,000 Johnsondiversey, Inc. Series B, 9.625% due 5/15/2012 4,195,875
1,600,000 Mueller Group, Inc., 10% due 5/01/2012 1,680,000
1,500,000 Rexnord Corp., 10.125% due 12/15/2012 1,605,000
1,925,000 Superior Essex Communications LLC, 9% due 4/15/2012 1,934,625
5,750,000 Trimas Corp., 9.875% due 6/15/2012 4,657,500
2,550,000 Tyco International Group SA, 2.75% due 1/15/2018 (h) 3,270,375
-------------
30,648,812
-------------------------------------------------------------------------------------------------------------------------------
Metal - Other - 2.1% 955,000 Asia Aluminum Holdings Ltd., 8% due 12/23/2011 (a) 914,412
3,050,000 Century Aluminum Co., 7.50% due 8/15/2014 2,989,000
3,250,000 Foundation PA Coal Co., 7.25% due 8/01/2014 3,347,500
3,450,000 Novelis, Inc., 7.25% due 2/15/2015 (a) 3,381,000
-------------
10,631,912
-------------------------------------------------------------------------------------------------------------------------------
Packaging - 4.9% 4,300,000 AEP Industries, Inc., 7.875% due 3/15/2013 (a) 4,294,513
2,225,000 Consolidated Container Co. LLC, 10.75%* due 6/15/2009 1,735,500
1,250,000 Crown European Holdings SA, 10.875% due 3/01/2013 1,442,187
4,875,000 Owens-Brockway, 8.875% due 2/15/2009 5,179,688
Pliant Corp.:
3,256,550 11.625% due 6/15/2009 (a)(f) 3,441,568
2,200,000 13% due 6/01/2010 1,760,000
Tekni-Plex, Inc.:
1,275,000 12.75% due 6/15/2010 847,875
650,000 8.75% due 11/15/2013 (a) 559,000
US Can Corp.:
1,625,000 10.875% due 7/15/2010 1,616,875
3,575,000 12.375% due 10/01/2010 3,289,000
1,150,000 Wise Metals Group LLC, 10.25% due 5/15/2012 948,750
-------------
25,114,956
-------------------------------------------------------------------------------------------------------------------------------
Paper - 6.4% 5,900,000 Abitibi-Consolidated, Inc., 6.91% due 6/15/2011 (c) 5,723,000
2,125,000 Ainsworth Lumber Co. Ltd., 6.84% due 10/01/2010 (c) 2,125,000
2,675,000 Boise Cascade LLC, 6.016% due 10/15/2012 (a)(c) 2,675,000
5,425,000 Bowater, Inc., 6.41% due 3/15/2010 (c) 5,343,625
1,850,000 Caraustar Industries, Inc., 9.875% due 4/01/2011 1,762,125
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
Face
Industry+ Amount Corporate Bonds Value
-------------------------------------------------------------------------------------------------------------------------------
Graphic Packaging International Corp.:
$ 1,875,000 8.50% due 8/15/2011 $ 1,865,625
2,050,000 9.50% due 8/15/2013 1,998,750
1,500,000 JSG Funding Plc, 9.625% due 10/01/2012 1,466,250
NewPage Corp. (a):
2,400,000 9.46% due 5/01/2012 (c) 2,352,000
2,400,000 12% due 5/01/2013 2,340,000
3,250,000 Norske Skog Canada Ltd. Series D, 8.625% due 6/15/2011 3,315,000
1,716,000 Western Forest Products, Inc., 15% due 7/28/2009 (a)(f) 1,758,070
-------------
32,724,445
-------------------------------------------------------------------------------------------------------------------------------
Retail - 0.9% 4,625,000 Jean Coutu Group, Inc., 8.50% due 8/01/2014 4,497,812
-------------------------------------------------------------------------------------------------------------------------------
Service - 5.9% 3,600,000 Allied Waste North America, Inc. Series B, 8.875% due 4/01/2008 3,762,000
4,500,000 Corrections Corp. of America, 7.50% due 5/01/2011 4,618,125
1,300,000 Knowledge Learning Corp., Inc., 7.75% due 2/01/2015 (a) 1,222,000
1,550,000 MSW Energy Holdings II LLC, 7.375% due 9/01/2010 1,557,750
2,400,000 MSW Energy Holdings LLC, 8.50% due 9/01/2010 2,484,000
5,125,000 United Rentals North America, Inc., 7.75% due 11/15/2013 5,073,750
5,150,000 Waste Services, Inc., 9.50% due 4/15/2014 (a) 5,098,500
Williams Scotsman, Inc.:
6,100,000 9.875% due 6/01/2007 6,008,500
650,000 10% due 8/15/2008 702,000
-------------
30,526,625
-------------------------------------------------------------------------------------------------------------------------------
Steel - 0.1% 700,000 Ucar Finance, Inc., 10.25% due 2/15/2012 724,500
-------------------------------------------------------------------------------------------------------------------------------
Telecommunications - 5.1% ADC Telecommunications, Inc. (h):
4,000,000 1% due 6/15/2008 3,680,000
1,025,000 3.996% due 6/15/2013 (c) 925,063
2,726,000 Alaska Communications Systems Holdings, Inc., 9.875% due 8/15/2011 2,869,115
3,500,000 Cincinnati Bell, Inc., 8.375% due 1/15/2014 3,465,000
5,100,000 LCI International, Inc., 7.25% due 6/15/2007 4,794,000
600,000 Qwest Capital Funding, Inc., 7.25% due 2/15/2011 (c) 556,500
1,600,000 Terremark Worldwide, Inc., 9% due 6/15/2009 (a)(h) 1,488,000
1,450,000 Time Warner Telecom Holdings, Inc., 7.268% due 2/15/2011 (c) 1,471,750
Time Warner Telecom, Inc.:
650,000 9.75% due 7/15/2008 651,625
6,375,000 10.125% due 2/01/2011 6,183,750
-------------
26,084,803
-------------------------------------------------------------------------------------------------------------------------------
Transportation - 1.3% 3,050,000 Laidlaw International, Inc., 10.75% due 6/15/2011 3,450,312
2,500,000 Teekay Shipping Corp., 8.875% due 7/15/2011 2,825,000
675,000 Titan Petrochemicals Group Ltd., 8.50% due 3/18/2012 603,281
-------------
6,878,593
-------------------------------------------------------------------------------------------------------------------------------
Utility - 10.1% 4,000,000 The AES Corp., 9.375% due 9/15/2010 4,500,000
1,250,000 Aquila, Inc., 7.625% due 11/15/2009 1,256,250
11,675,000 Calpine Canada Energy Finance Ulc, 8.50% due 5/01/2008 6,946,625
Calpine Corp.:
2,375,000 8.25% due 8/15/2005 2,280,000
1,625,000 8.75% due 7/15/2007 1,023,750
5,320,000 Centerpoint Energy, Inc., 3.75% due 5/15/2023 (h) 6,044,850
3,435,000 ESI Tractebel Acquisition Corp. Series B, 7.99% due 12/30/2011 3,654,545
3,125,000 Edison Mission Energy, 9.875% due 4/15/2011 3,609,375
2,525,000 El Paso CGP Co., 7.75% due 6/15/2010 2,525,000
Nevada Power Co.:
1,150,000 9% due 8/15/2013 1,290,875
3,750,000 Series A, 8.25% due 6/01/2011 4,190,625
1,575,000 Series E, 10.875% due 10/15/2009 1,767,937
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
Face
Industry+ Amount Corporate Bonds Value
-------------------------------------------------------------------------------------------------------------------------------
$ 2,750,000 Reliant Energy, Inc., 6.75% due 12/15/2014 $ 2,619,375
3,950,000 Sierra Pacific Power Co. Series A, 8% due 6/01/2008 4,216,625
875,000 Sierra Pacific Resources, 8.625% due 3/15/2014 947,188
1,650,000 Southern Natural Gas Co., 8.875% due 3/15/2010 1,797,198
3,450,000 Texas Genco LLC, 6.875% due 12/15/2014 (a) 3,544,875
-------------
52,215,093
-------------------------------------------------------------------------------------------------------------------------------
Wireless Communications - 3.9% 3,300,000 Centennial Cellular Operating Co. LLC, 10.125% due 6/15/2013 3,683,625
2,875,000 Iwo Escrow Co., 6.891% due 1/15/2012 (a)(c) 2,860,625
Rogers Wireless Communications, Inc.:
1,100,000 6.535% due 12/15/2010 (c) 1,146,750
250,000 8% due 12/15/2012 265,938
5,600,000 6.375% due 3/01/2014 5,572,000
1,075,000 Rural Cellular Corp., 7.91% due 3/15/2010 (c) 1,088,438
2,250,000 SBA Communications Corp., 8.50% due 12/01/2012 (a) 2,385,000
3,450,000 SBA Telecommunications, Inc., 7.43%* due 12/15/2011 3,018,750
-------------
20,021,126
-------------------------------------------------------------------------------------------------------------------------------
Total Corporate Bonds (Cost - $652,114,048) - 125.2% 645,772,467
-------------------------------------------------------------------------------------------------------------------------------
Floating Rate Loan Interests (e)
-------------------------------------------------------------------------------------------------------------------------------
Cable - U.S. - 1.6% 8,400,000 Century Cable Holdings LLC Discretionary Term Loan, due 12/31/2009 8,309,700
-------------------------------------------------------------------------------------------------------------------------------
Chemicals - 1.0% 4,870,000 Wellman, Inc. Second Lien Term Loan, due 2/10/2010 5,046,538
-------------------------------------------------------------------------------------------------------------------------------
Manufacturing - 0.3% 1,571,003 EaglePicher Holdings, Inc. Tranche B Term Loan, due 8/07/2009 1,543,510
-------------------------------------------------------------------------------------------------------------------------------
Total Floating Rate Loan Interests Cost - $14,205,884) - 2.9% 14,899,748
-------------------------------------------------------------------------------------------------------------------------------
Shares
Held Common Stocks
-------------------------------------------------------------------------------------------------------------------------------
Airlines - 0.2% 133,624 ABX Air, Inc. (g) 1,004,852
-------------------------------------------------------------------------------------------------------------------------------
Cable - International - 0.8% 188,753 Telewest Global, Inc. (g) 3,946,825
-------------------------------------------------------------------------------------------------------------------------------
Energy - Other - 0.5% 136,000 Trico Marine Services, Inc. (g) 2,475,200
-------------------------------------------------------------------------------------------------------------------------------
Paper - 0.1% 78,039 Western Forest Products, Inc. (g) 351,569
-------------------------------------------------------------------------------------------------------------------------------
Total Common Stocks (Cost - $5,740,512) - 1.6% 7,778,446
-------------------------------------------------------------------------------------------------------------------------------
Preferred Stocks
-------------------------------------------------------------------------------------------------------------------------------
Automotive - 0.9% 230,000 General Motors Corp. Series C, 6.25% (h) 4,864,500
-------------------------------------------------------------------------------------------------------------------------------
Total Preferred Stocks (Cost - $5,748,900) - 0.9% 4,864,500
-------------------------------------------------------------------------------------------------------------------------------
Warrants (d)
-------------------------------------------------------------------------------------------------------------------------------
Health Care - 0.0% 54,577 HealthSouth Corp. (expires 1/16/2014) 136,443
-------------------------------------------------------------------------------------------------------------------------------
Total Warrants (Cost - $0) - 0.0% 136,443
-------------------------------------------------------------------------------------------------------------------------------
Total Investments (Cost - $677,809,344**) - 130.6% 673,451,604
Liabilities in Excess of Other Assets - (30.6%) (157,854,429)
-------------
Net Assets - 100.0% $ 515,597,175
=============
* Represents a zero coupon or step bond; the interest rate shown reflects
the effective yield at the time of purchase by the Fund.
** The cost and unrealized appreciation (depreciation) of investments as of
May 31, 2005, as computed for federal income tax purposes, were as
follows:
Aggregate cost $ 678,654,289
=============
Gross unrealized appreciation $ 20,199,618
Gross unrealized depreciation (25,402,303)
-------------
Net unrealized depreciation $ (5,202,685)
=============
Corporate High Yield Fund VI, Inc.
Schedule of Investments as of May 31, 2005
+ For Fund compliance purposes, "Industry" means any one or more of the
industry sub-classifications used by one or more widely recognized market
indexes or ratings group indexes, and/or as defined by Fund management.
This definition may not apply for purposes of this report which may
combine such industry sub-classifications for reporting ease.
(a) The security may be offered and sold to "qualified institutional buyers"
under Rule 144A of the Securities Act of 1933.
(b) Non-income producing security; issuer filed for bankruptcy or is in
default of interest payments.
(c) Floating rate note.
(d) Warrants entitle the Fund to purchase a predetermined number of shares of
common stock and are non-income producing. The purchase price and number
of shares are subject to adjustment under certain conditions until the
expiration date.
(e) Floating rate loan interests in which the Fund invests generally pays
interest at rates that are periodically redetermined by reference to a
base lending rate plus a premium. The base lending rates are generally (i)
the lending rate offered by one or more major European banks, such as
LIBOR (London InterBank Offered Rate), (ii) the prime rate offered by one
or more major U.S. banks or (iii) the certificate of deposit rate.
(f) Represents a pay-in-kind security which may pay interest/dividends in
additional face/shares.
(g) Non-income producing security.
(h) Convertible security.
Investments in companies considered to be an affiliate of the Fund (such
companies are defined as "Affiliated Companies" in Section 2(a)(3) of the
Investment Company Act of 1940) were as follows:
--------------------------------------------------------------------------
Net Interest
Affiliate Activity Income
--------------------------------------------------------------------------
Merrill Lynch Liquidity Series, LLC
Cash Sweep Series I $ (6,541,525) $ 6,338
--------------------------------------------------------------------------
Swaps outstanding as of May 31, 2005 were as follows:
----------------------------------------------------------------------------------------
Unrealized
Notional Appreciation
Amount (Depreciation)
----------------------------------------------------------------------------------------
Sold credit default protection on Ford Motor Company
and receive 4.70%
Broker, Morgan Stanley Capital Services, Inc.
Expires June 2007 $675,000 $ 24,900
Sold credit default protection on General Motors Corporation
and receive 4.40%
Broker, Morgan Stanley Capital Services, Inc.
Expires June 2007 $625,000 (12,065)
Sold credit default protection on General Motors Corporation
and receive 5.50%
Broker, Morgan Stanley Capital Services, Inc.
Expires June 2007 $675,000 720
----------------------------------------------------------------------------------------
Total $ 13,555
========
Financial futures contracts sold as of May 31, 2005 were as follows:
---------------------------------------------------------------------------------------
Number of Expiration Unrealized
Contracts Issue Date Face Value Depreciation
---------------------------------------------------------------------------------------
80 10 -Year U.S. Treasury Notes September 2005 $ 9,002,519 $ (58,731)
---------------------------------------------------------------------------------------
Item 2 - Controls and Procedures
2(a) - The registrant's certifying officers have reasonably designed such
disclosure controls and procedures to ensure material information
relating to the registrant is made known to us by others particularly
during the period in which this report is being prepared. The
registrant's certifying officers have determined that the registrant's
disclosure controls and procedures are effective based on our evaluation
of these controls and procedures as of a date within 90 days prior to the
filing date of this report.
2(b) - There were no changes in the registrant's internal control over financial
reporting (as defined in Rule 30a-3(d) under the Act (17 CFR
270.30a-3(d)) that occurred during the last fiscal quarter of the period
covered by this report that has materially affected, or is reasonably
likely to materially affect, the registrant's internal control over
financial reporting.
Item 3 - Exhibits
Certifications - Attached hereto
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.
Corporate High Yield Fund VI, Inc.
By: /s/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
Corporate High Yield Fund VI, Inc.
Date: July 15, 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/ Robert C. Doll, Jr.
---------------------------
Robert C. Doll, Jr.
Chief Executive Officer
Corporate High Yield Fund VI, Inc.
Date: July 15, 2005
By: /s/ Donald C. Burke
---------------------------
Donald C. Burke
Chief Financial Officer
Corporate High Yield Fund VI, Inc.
Date: July 15, 2005