Unassociated Document
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 811-21936
SPECIAL
VALUE CONTINUATION FUND, LLC
(Exact
Name of Registrant as Specified in Charter)
2951
28TH
STREET, SUITE 1000
SANTA
MONICA, CALIFORNIA 90405
(Address
of Principal Executive Offices) (Zip Code)
ELIZABETH
GREENWOOD, SECRETARY
SPECIAL
VALUE CONTINUATION FUND, LLC
2951
28TH
STREET, SUITE 1000
SANTA
MONICA, CALIFORNIA 90405
(Name
and
Address of Agent for Service)
Registrant's
telephone number, including area code: (310) 566-1000
Copies
to:
RICHARD
T. PRINS, ESQ.
SKADDEN,
ARPS, SLATE, MEAGHER & FLOM LLP
FOUR
TIMES SQUARE
NEW
YORK,
NEW YORK 10036
Date
of
fiscal year end: DECEMBER 31, 2008
Date
of
reporting period: SEPTEMBER 30, 2008
ITEM
1. |
SCHEDULE
OF INVESTMENTS.
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(A
Delaware Limited Liability Company)
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Statement
of Investments (Unaudited)
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September
30, 2008
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Amount
of
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Equity
in Net
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Fair
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Security
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Shares
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Profit
and Loss
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Value
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Equity
and Equity Related Securities
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Other
Investment Pools and Funds
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Special
Value Continuation Partners, LP
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Common
Limited Partner Interest (1),
(2)
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(Acquired
7/31/06, Cost $418,955,776)
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1
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100
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%
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Notes
to Statement of Investments
(2) |
For
information regarding the portfolio holdings of Special Value Continuation
Partners, LP, including applicable FAS 157 disclosures, please
see the Statement of Investments included in Special Value Continuation
Partners, LP's Form N-Q.
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Changes
in Special Value Continuation Fund, LLC’s 100% limited partnership interest in
Special Value Continuation Partners, LP during the nine months ended September
30, 2008 were as follows:
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Beginning
Balance
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$
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392,503,508
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Losses
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(51,771,135
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)
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Distribution
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(4,000,000
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)
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Ending
Balance
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$
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336,732,373
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ITEM
2. |
CONTROLS
AND PROCEDURES.
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(a) The
Registrant's Chief Executive Officer and Chief Financial Officer have evaluated
the Registrant's disclosure controls and procedures within 90 days of this
filing and have concluded that the Registrant's disclosure controls and
procedures were effective, as of that date, in ensuring that information
required to be disclosed by the Registrant in this Form N-Q was recorded,
processed, summarized, and reported in a timely manner.
(b) Not
applicable.
Certification
pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR
270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
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.
Special
Value Continuation Fund, LLC
By:
/s/ Hugh Steven
Wilson
Name:
Hugh Steven Wilson
Title:
Chief Executive Officer
Date:
December 1, 2008
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/ Hugh Steven
Wilson
Name:
Hugh Steven Wilson
Title:
Chief Executive Officer
Date:
December 1, 2008
By:
/s/ Paul L.
Davis
Name:
Paul L. Davis
Title:
Chief Financial Officer
Date:
December 1, 2008