NPORT-EX 2 NPORT_LCXB_22473467_0922.htm BlackRock Enhanced Capital and Income Fund

Schedule of Investments (unaudited) 

September 30, 2022

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Air Freight & Logistics — 1.3%  

CH Robinson Worldwide, Inc.(a)

    101,761     $     9,800,602  
   

 

 

  
Auto Components — 1.1%  

Aptiv PLC(b)

    103,770       8,115,852  
   

 

 

  
Automobiles — 1.6%  

General Motors Co.(a)

    375,971       12,064,909  
   

 

 

  
Banks — 3.2%  

First Citizens BancShares, Inc., Class A

     16,120       12,854,572  

JPMorgan Chase & Co.(a)

    111,091       11,609,009  
   

 

 

  
      24,463,581  
Beverages — 1.5%  

Monster Beverage Corp.(b)

    135,460       11,779,602  
   

 

 

  
Capital Markets — 2.8%  

Intercontinental Exchange, Inc.(a)

    128,297       11,591,634  

Morgan Stanley

     124,431       9,831,293  
   

 

 

  
      21,422,927  
Chemicals — 4.1%  

Axalta Coating Systems Ltd.(b)

    365,575       7,699,009  

Corteva, Inc.(a)

    411,838       23,536,542  
   

 

 

  
      31,235,551  
Communications Equipment — 1.7%  

Ciena Corp.(b)

    312,682       12,641,733  
   

 

 

  
Consumer Finance — 1.1%  

Capital One Financial Corp.(a)

    89,930       8,288,848  
   

 

 

  
Containers & Packaging — 1.1%  

Sealed Air Corp.(a)

    192,720       8,577,967  
   

 

 

  
Diversified Financial Services — 3.0%  

Berkshire Hathaway, Inc., Class B(a)(b)

    75,768       20,231,571  

Voya Financial, Inc.

     45,640       2,761,220  
   

 

 

  
      22,992,791  
Entertainment — 0.8%  

World Wrestling Entertainment, Inc., Class A(a)

    88,544       6,213,132  
   

 

 

  
Food Products — 1.6%  

Mondelez International, Inc., Class A(a)

    221,850       12,164,035  
   

 

 

  
Health Care Providers & Services — 8.5%  

Elevance Health, Inc.

     24,555       11,153,863  

Humana, Inc.(a)

    32,558       15,796,816  

Laboratory Corp. of America Holdings(a)

    70,445       14,427,841  

UnitedHealth Group, Inc.(a)

    47,073       23,773,748  
   

 

 

  
      65,152,268  
Health Care Technology — 0.6%  

Veeva Systems, Inc., Class A(a)(b)

    28,136       4,639,064  
   

 

 

  
Hotels, Restaurants & Leisure — 0.8%  

Las Vegas Sands Corp.(a)(b)

    170,038       6,379,826  
   

 

 

  
Insurance — 3.7%  

Progressive Corp.

     124,320       14,447,227  

Reinsurance Group of America, Inc.(a)

    111,170       13,986,298  
   

 

 

  
      28,433,525  
Interactive Media & Services(a)(b) — 6.2%  

Alphabet, Inc., Class A

     373,760       35,750,144  

Meta Platforms, Inc., Class A

     84,339       11,443,115  
   

 

 

  
      47,193,259  
Security   Shares     Value  
Internet & Direct Marketing Retail — 5.0%  

Amazon.com, Inc.(a)(b)

    336,910     $   38,070,830  
   

 

 

  
IT Services — 5.6%  

Cognizant Technology Solutions Corp., Class A

     33,290       1,912,178  

Fidelity National Information Services, Inc.(a)

    127,381       9,626,182  

FleetCor Technologies, Inc.(a)(b)

    64,452       11,354,509  

Visa, Inc., Class A(a)

    110,000       19,541,500  
   

 

 

  
      42,434,369  
Life Sciences Tools & Services — 1.1%  

Avantor, Inc.(a)(b)

    432,530       8,477,588  
   

 

 

  
Machinery(a) — 5.2%  

Caterpillar, Inc.

     80,640       13,231,411  

Fortive Corp.

     259,063       15,103,373  

Otis Worldwide Corp.

     174,347       11,123,339  
   

 

 

  
      39,458,123  
Media(a) — 3.4%  

Comcast Corp., Class A

     663,432       19,458,461  

Fox Corp., Class A

     217,668       6,678,054  
   

 

 

  
      26,136,515  
Multiline Retail(a) — 3.6%  

Dollar General Corp.

     63,188       15,156,274  

Dollar Tree, Inc.(b)

    89,752       12,215,247  
   

 

 

  
      27,371,521  
Oil, Gas & Consumable Fuels — 4.8%  

BP PLC, ADR

     295,820       8,445,661  

ConocoPhillips(a)

    140,958       14,425,642  

EQT Corp.(a)

    339,947       13,852,840  
   

 

 

  
      36,724,143  
Personal Products — 1.2%  

Unilever PLC, ADR(a)

    215,578       9,450,940  
   

 

 

  
Pharmaceuticals(a) — 3.3%  

Novo Nordisk A/S, ADR

     97,113       9,675,368  

Sanofi, ADR

     407,302       15,485,622  
   

 

 

  
      25,160,990  
Professional Services — 0.7%  

Dun & Bradstreet Holdings, Inc.

     450,410       5,580,580  
   

 

 

  
Real Estate Management & Development — 1.2%  

CBRE Group, Inc., Class A(a)(b)

    139,814       9,438,843  
   

 

 

  
Road & Rail — 1.7%  

Norfolk Southern Corp.(a)

    63,570       13,327,450  
   

 

 

  
Semiconductors & Semiconductor Equipment(a) — 3.7%  

Analog Devices, Inc.

     94,330       13,143,942  

Applied Materials, Inc.

     116,800       9,569,424  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     78,500       5,381,960  
   

 

 

  
      28,095,326  
Software — 6.4%  

Microsoft Corp.(a)

    208,581       48,578,515  
   

 

 

  
Specialty Retail(a) — 2.9%  

Bath & Body Works, Inc.

     184,660       6,019,916  

Ross Stores, Inc.

     192,718       16,240,346  
   

 

 

  
      22,260,262  
 

 

 

1

  

Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Technology Hardware, Storage & Peripherals — 4.6%  

Apple, Inc.(a)

    255,158     $ 35,262,836  
   

 

 

  

Total Long-Term Investments — 99.1%
(Cost: $633,203,195)

 

     757,388,303  
   

 

 

  

Short-Term Securities

 

Money Market Funds — 1.4%  

BlackRock Liquidity Funds, T-Fund, Institutional Class, 2.79%(c)(d)

    10,839,238       10,839,238  
   

 

 

  

Total Short-Term Securities — 1.4%
(Cost: $10,839,238)

 

     10,839,238  
   

 

 

  

Total Investments Before Options Written — 100.5%
(Cost: $644,042,433)

 

     768,227,541  
   

 

 

  

Options Written — (0.5)%
(Premiums Received: $(11,902,313))

 

     (3,622,883 ) 
   

 

 

  

Total Investments, Net of Options Written — 100.0%
(Cost: $632,140,120)

 

     764,604,658  

Other Assets Less Liabilities — 0.0%

 

     26,615  
   

 

 

  

Net Assets — 100.0%

 

   $ 764,631,273  
   

 

 

  
(a) 

All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

(b) 

Non-income producing security.

(c) 

Affiliate of the Trust.

(d) 

Annualized 7-day yield as of period end.

 

For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2022 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer    Value at
12/31/21		      Purchases
at Cost		      Proceeds
from Sales		      Net
Realized
Gain (Loss)		      Change in
Unrealized
Appreciation
(Depreciation)		      Value at
09/30/22		      Shares
Held at
09/30/22		      Income      Capital Gain
Distributions
from
Underlying
Funds		  

BlackRock Liquidity Funds, T-Fund, Institutional Class

    $  10,297,753      $  541,485 (a)     $  —      $  —      $  —      $  10,839,238        10,839,238      $  77,782      $  —  
           

 

 

     

 

 

     

 

 

        

 

 

     

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  

Call

                           

Alphabet, Inc., Class A

      967          10/07/22        USD     115.00        USD     9,249        $       (1,451 ) 

Amazon.com, Inc.

      234          10/07/22        USD     133.00        USD     2,644          (702 ) 

Analog Devices, Inc.

      100          10/07/22        USD     160.00        USD     1,393          (500 ) 

Apple, Inc.

      110          10/07/22        USD     173.35        USD     1,520          —  

Apple, Inc.

      109          10/07/22        USD     172.87        USD     1,506          —  

Applied Materials, Inc.

      180          10/07/22        USD     98.00        USD     1,475          (540 ) 

Bath & Body Works, Inc.

      191          10/07/22        USD     40.00        USD     623          (1,910 ) 

Berkshire Hathaway, Inc., Class B

      293          10/07/22        USD     285.00        USD     7,824          (5,128 ) 

Capital One Financial Corp.

      169          10/07/22        USD     111.00        USD     1,558          (2,535 ) 

Caterpillar, Inc.

      162          10/07/22        USD     190.00        USD     2,658          (1,053 ) 

Comcast Corp., Class A

      659          10/07/22        USD     38.00        USD     1,933          (659 ) 

ConocoPhillips

      364          10/07/22        USD     114.00        USD     3,766          (4,732 ) 

Dollar Tree, Inc.

      107          10/07/22        USD     155.00        USD     1,456          (1,712 ) 

Dollar Tree, Inc.

      105          10/07/22        USD     160.00        USD     1,429          (1,575 ) 

Elevance Health, Inc.

      25          10/07/22        USD     495.00        USD     1,136          (1,875 ) 

 

 

S C H E D U L E    O F    I N V E S T M E N T S

  

2

Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Exchange-Traded Options Written (continued)

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  

Call (continued)

                           

EQT Corp.

      766          10/07/22        USD     50.00        USD     3,121        $     (11,490 ) 

General Motors Co.

      322          10/07/22        USD     43.00        USD     1,033          (322 ) 

JPMorgan Chase & Co.

      121          10/07/22        USD     120.00        USD     1,264          (182 ) 

Las Vegas Sands Corp.

      406          10/07/22        USD     41.00        USD     1,523          (7,714 ) 

Microsoft Corp.

      182          10/07/22        USD     265.00        USD     4,239          (819 ) 

Mondelez International, Inc., Class A

      200          10/07/22        USD     64.00        USD     1,097          (4,000 ) 

Monster Beverage Corp.

      216          10/07/22        USD     93.00        USD     1,878          (2,700 ) 

Morgan Stanley

      139          10/07/22        USD     86.00        USD     1,098          (1,182 ) 

Ross Stores, Inc.

      187          10/07/22        USD     88.00        USD     1,576          (14,025 ) 

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

      10          10/07/22        USD     87.00        USD     69          (10 ) 

UnitedHealth Group, Inc.

      112          10/07/22        USD     540.00        USD     5,656          (4,200 ) 

Visa, Inc., Class A

      54          10/07/22        USD     215.00        USD     959          (540 ) 

Amazon.com, Inc.

      19          10/14/22        USD     135.00        USD     215          (171 ) 

Apple, Inc.

      396          10/14/22        USD     165.00        USD     5,473          (2,178 ) 

Applied Materials, Inc.

      388          10/14/22        USD     100.00        USD     3,179          (1,940 ) 

BP PLC, ADR

      820          10/14/22        USD     33.00        USD     2,341          (3,690 ) 

Caterpillar, Inc.

      162          10/14/22        USD     190.00        USD     2,658          (5,103 ) 

Comcast Corp., Class A

      625          10/14/22        USD     36.00        USD     1,833          (1,250 ) 

ConocoPhillips

      559          10/14/22        USD     107.00        USD     1,893          (113,197 ) 

Dollar General Corp.

      23          10/14/22        USD     255.00        USD     552          (2,070 ) 

Elevance Health, Inc.

      72          10/14/22        USD     490.00        USD     3,271          (25,920 ) 

EQT Corp.

      693          10/14/22        USD     48.00        USD     2,824          (19,057 ) 

Fox Corp., Class A

      642          10/14/22        USD     35.00        USD     1,970          (12,840 ) 

General Motors Co.

      294          10/14/22        USD     43.00        USD     943          (588 ) 

JPMorgan Chase & Co.

      353          10/14/22        USD     118.00        USD     3,689          (5,119 ) 

Mondelez International, Inc., Class A

      294          10/14/22        USD     62.00        USD     1,612          (22,050 ) 

Norfolk Southern Corp.

      153          10/14/22        USD     255.00        USD     3,208          (11,475 ) 

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

      235          10/14/22        USD     84.00        USD     1,611          (1,175 ) 

Visa, Inc., Class A

      76          10/14/22        USD     213.00        USD     1,350          (96 ) 

Analog Devices, Inc.

      151          10/21/22        USD     160.00        USD     2,104          (3,398 ) 

Apple, Inc.

      103          10/21/22        USD     170.00        USD     1,423          (721 ) 

Apple, Inc.

      317          10/21/22        USD     165.00        USD     4,381          (3,804 ) 

Apple, Inc.

      109          10/21/22        USD     148.00        USD     1,506          (18,857 ) 

Avantor, Inc.

      1,101          10/21/22        USD     27.50        USD     2,158          (11,010 ) 

Axalta Coating Systems Ltd.

      608          10/21/22        USD     26.00        USD     1,280          (24,320 ) 

Capital One Financial Corp.

      169          10/21/22        USD     115.00        USD     1,558          (2,535 ) 

CBRE Group, Inc., Class A

      480          10/21/22        USD     80.00        USD     3,240          (36,000 ) 

CH Robinson Worldwide, Inc.

      206          10/21/22        USD     120.00        USD     1,984          (4,120 ) 

Ciena Corp.

      294          10/21/22        USD     55.00        USD     1,189          (1,470 ) 

Comcast Corp., Class A

      484          10/21/22        USD     37.50        USD     1,420          (1,694 ) 

Corteva, Inc.

      263          10/21/22        USD     65.00        USD     1,503          (4,603 ) 

Delphi Automotive PLC

      188          10/21/22        USD     105.00        USD     1,470          (4,700 ) 

Dollar Tree, Inc.

      113          10/21/22        USD     145.00        USD     1,538          (18,588 ) 

Dun & Bradstreet Holdings, Inc.

      440          10/21/22        USD     15.45        USD     545          (30 ) 

Elevance Health, Inc.

      25          10/21/22        USD     510.00        USD     1,136          (2,125 ) 

EQT Corp.

      805          10/21/22        USD     55.00        USD     3,280          (6,038 ) 

EQT Corp.

      148          10/21/22        USD     50.00        USD     603          (4,070 ) 

Fidelity National Information Services, Inc.

      423          10/21/22        USD     105.00        USD     3,197          (10,575 ) 

First Citizens BancShares, Inc., Class A

      37          10/21/22        USD     830.00        USD     2,950          (48,655 ) 

First Citizens BancShares, Inc., Class A

      28          10/21/22        USD     847.00        USD     2,233          (24,397 ) 

FleetCor Technologies, Inc.

      422          10/21/22        USD     240.00        USD     7,434          (202,560 ) 

Fortive Corp.

      676          10/21/22        USD     68.75        USD     3,941          (2,451 ) 

Fox Corp., Class A

      638          10/21/22        USD     37.00        USD     1,957          (3,190 ) 

Fox Corp., Class A

      146          10/21/22        USD     38.00        USD     448          (1,460 ) 

General Motors Co.

      348          10/21/22        USD     39.00        USD     1,117          (2,610 ) 

Humana, Inc.

      104          10/21/22        USD     510.00        USD     5,046          (58,240 ) 

Intercontinental Exchange, Inc.

      477          10/21/22        USD     112.62        USD     4,310          (42 ) 

Meta Platforms, Inc., Class A

      231          10/21/22        USD     180.00        USD     3,134          (2,657 ) 

Monster Beverage Corp.

      217          10/21/22        USD     91.00        USD     1,887          (24,955 ) 

Novo Nordisk A/S, ADR

      318          10/21/22        USD     107.88        USD     3,168          (18,994 ) 

Otis Worldwide Corp.

      164          10/21/22        USD     81.75        USD     1,046          (30 ) 

Progressive Corp.

      600          10/21/22        USD     130.00        USD     6,973          (16,500 ) 

 

 

3

  

Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Exchange-Traded Options Written (continued)

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  

Call (continued)

                           

Reinsurance Group of America, Inc.

      227          10/21/22        USD     135.00        USD     2,856        $     (51,075 ) 

Sanofi, ADR

      752          10/21/22        USD     43.00        USD     2,859          (11,280 ) 

Sanofi, ADR

      890          10/21/22        USD     42.00        USD     3,384          (15,575 ) 

Sealed Air Corp.

      786          10/21/22        USD     60.00        USD     3,498          (31,440 ) 

Unilever PLC, ADR

      218          10/21/22        USD     49.35        USD     956          (801 ) 

UnitedHealth Group, Inc.

      165          10/21/22        USD     540.00        USD     8,333          (59,812 ) 

Veeva Systems, Inc., Class A

      62          10/21/22        USD     185.00        USD     1,022          (5,270 ) 

Visa, Inc., Class A

      44          10/21/22        USD     210.00        USD     782          (352 ) 

World Wrestling Entertainment, Inc., Class A

      243          10/21/22        USD     75.00        USD     1,705          (17,617 ) 

Amazon.com, Inc.

      420          10/28/22        USD     134.00        USD     4,746          (31,710 ) 

Analog Devices, Inc.

      99          10/28/22        USD     155.00        USD     1,379          (9,900 ) 

Apple, Inc.

      28          10/28/22        USD     160.00        USD     387          (1,834 ) 

Apple, Inc.

      377          10/28/22        USD     157.50        USD     5,210          (35,249 ) 

Applied Materials, Inc.

      191          10/28/22        USD     97.00        USD     1,565          (9,073 ) 

Bath & Body Works, Inc.

      208          10/28/22        USD     44.00        USD     678          (3,120 ) 

Berkshire Hathaway, Inc., Class B

      199          10/28/22        USD     285.00        USD     5,314          (62,088 ) 

BP PLC, ADR

      485          10/28/22        USD     33.00        USD     1,385          (7,033 ) 

Comcast Corp., Class A

      468          10/28/22        USD     35.00        USD     1,373          (5,616 ) 

Dollar General Corp.

      172          10/28/22        USD     250.00        USD     4,126          (64,500 ) 

General Motors Co.

      349          10/28/22        USD     40.00        USD     1,120          (4,363 ) 

Humana, Inc.

      107          10/28/22        USD     505.00        USD     5,192          (104,860 ) 

JPMorgan Chase & Co.

      166          10/28/22        USD     117.00        USD     1,735          (9,379 ) 

Microsoft Corp.

      440          10/28/22        USD     255.00        USD     10,248          (130,460 ) 

Morgan Stanley

      456          10/28/22        USD     90.00        USD     3,603          (18,696 ) 

Ross Stores, Inc.

      69          10/28/22        USD     88.00        USD     581          (16,042 ) 

Visa, Inc., Class A

      76          10/28/22        USD     205.00        USD     1,350          (3,268 ) 

Alphabet, Inc., Class A

      415          11/04/22        USD     104.00        USD     3,969          (82,585 ) 

Analog Devices, Inc.

      14          11/04/22        USD     150.00        USD     195          (3,612 ) 

Apple, Inc.

      109          11/04/22        USD     162.50        USD     1,506          (7,358 ) 

BP PLC, ADR

      139          11/04/22        USD     30.00        USD     397          (12,441 ) 

Capital One Financial Corp.

      246          11/04/22        USD     101.00        USD     2,267          (54,120 ) 

Comcast Corp., Class A

      417          11/04/22        USD     33.00        USD     1,223          (14,804 ) 

Dollar General Corp.

      57          11/04/22        USD     250.00        USD     1,367          (26,505 ) 

Dollar Tree, Inc.

      105          11/04/22        USD     150.00        USD     1,429          (17,272 ) 

Elevance Health, Inc.

      12          11/04/22        USD     490.00        USD     545          (7,380 ) 

Fortive Corp.

      1,004          11/04/22        USD     66.50        USD     5,853          (32,753 ) 

JPMorgan Chase & Co.

      82          11/04/22        USD     113.00        USD     857          (12,587 ) 

Meta Platforms, Inc., Class A

      231          11/04/22        USD     155.00        USD     3,134          (79,117 ) 

Microsoft Corp.

      367          11/04/22        USD     250.00        USD     8,547          (172,490 ) 

Mondelez International, Inc., Class A

      393          11/04/22        USD     58.00        USD     2,155          (30,654 ) 

Monster Beverage Corp.

      108          11/04/22        USD     92.00        USD     939          (16,740 ) 

Morgan Stanley

      213          11/04/22        USD     85.00        USD     1,683          (29,820 ) 

Otis Worldwide Corp.

      430          11/04/22        USD     67.75        USD     2,743          (49,306 ) 

UnitedHealth Group, Inc.

      31          11/04/22        USD     545.00        USD     1,566          (20,460 ) 

Visa, Inc., Class A

      149          11/04/22        USD     190.00        USD     2,647          (47,978 ) 

Veeva Systems, Inc., Class A

      122          11/10/22        USD     185.00        USD     2,012          (33,999 ) 

Alphabet, Inc., Class A

      415          11/11/22        USD     105.00        USD     3,969          (85,905 ) 

General Motors Co.

      191          11/11/22        USD     36.00        USD     613          (17,572 ) 

Microsoft Corp.

      367          11/11/22        USD     250.00        USD     8,547          (200,932 ) 

World Wrestling Entertainment, Inc., Class A

      182          11/11/22        USD     70.10        USD     1,277          (69,594 ) 

Avantor, Inc.

      643          11/18/22        USD     30.00        USD     1,260          (9,645 ) 

Axalta Coating Systems Ltd.

      143          11/18/22        USD     27.00        USD     301          (16,445 ) 

BP PLC, ADR

      478          11/18/22        USD     31.00        USD     1,365          (36,567 ) 

CBRE Group, Inc., Class A

      428          11/18/22        USD     85.00        USD     2,889          (6,420 ) 

Ciena Corp.

      450          11/18/22        USD     44.60        USD     1,819          (43,300 ) 

Corteva, Inc.

      1,401          11/18/22        USD     62.55        USD     8,007          (144,426 ) 

Delphi Automotive PLC

      188          11/18/22        USD     110.00        USD     1,470          (6,580 ) 

Elevance Health, Inc.

      25          11/18/22        USD     510.00        USD     1,136          (11,000 ) 

Fidelity National Information Services, Inc.

      411          11/18/22        USD     95.00        USD     3,106          (10,275 ) 

Intercontinental Exchange, Inc.

      363          11/18/22        USD     105.50        USD     3,280          (13,659 ) 

Laboratory Corp. of America Holdings

      251          11/18/22        USD     250.00        USD     5,141          (32,630 ) 

Laboratory Corp. of America Holdings

      171          11/18/22        USD     220.00        USD     3,502          (64,125 ) 

 

 

S C H E D U L E    O F    I N V E S T M E N T S

  

4

Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Exchange-Traded Options Written (continued)

Description    Number of
Contracts		        Expiration
Date		        Exercise Price       

Notional

Amount (000)

        Value  

Call (continued)

                           

Las Vegas Sands Corp.

      397          11/18/22        USD     41.00        USD     1,490        $ (74,040 ) 

Meta Platforms, Inc., Class A

      86          11/18/22        USD     165.00        USD     1,167          (22,274 ) 

Norfolk Southern Corp.

      150          11/18/22        USD     240.00        USD     3,145          (21,375 ) 

Novo Nordisk A/S, ADR

      313          11/18/22        USD     110.00        USD     3,118          (50,080 ) 

Otis Worldwide Corp.

      539          11/18/22        USD     72.50        USD     3,439          (28,297 ) 

Progressive Corp.

      208          11/18/22        USD     130.00        USD     2,417          (23,920 ) 

Ross Stores, Inc.

      129          11/18/22        USD     95.00        USD     1,087          (23,542 ) 

Sealed Air Corp.

      477          11/18/22        USD     54.50        USD     2,123          (12,455 ) 

Unilever PLC, ADR

      651          11/18/22        USD     49.00        USD     2,854          (14,648 ) 

Visa, Inc., Class A

      41          11/18/22        USD     205.00        USD     728          (4,756 ) 

Voya Financial, Inc.

      148          11/18/22        USD     65.00        USD     895          (20,350 ) 

Voya Financial, Inc.

      148          11/18/22        USD     62.50        USD     895          (34,040 ) 

World Wrestling Entertainment, Inc., Class A

      150          11/18/22        USD     75.00        USD     1,053          (34,875 ) 

Laboratory Corp. of America Holdings

      37          12/16/22        USD     220.00        USD     758          (23,680 ) 
                          

 

 

  
                           $   (3,484,675 ) 
                          

 

 

  

OTC Options Written

 

Description    Counterparty    Number of
Contracts		      Expiration
Date		      Exercise Price     

Notional

Amount (000)

      Value  

Call

                      

Axalta Coating Systems Ltd.

    Goldman Sachs International      71,100        10/14/22        USD       27.16        USD       1,497      $ (27 ) 

Ciena Corp.

    JPMorgan Chase Bank N.A.      53,000        11/08/22        USD       42.23        USD       2,143        (79,305 ) 

Delphi Automotive PLC

    Goldman Sachs International      29,800        11/09/22        USD       89.81        USD       2,331        (58,876 ) 
                     

 

 

  
                      $   (138,208 ) 
                     

 

 

  

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access;

 

  •  

Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, 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 assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

 

 

5

  

Schedule of Investments (unaudited) (continued)

September 30, 2022

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Fair Value Hierarchy as of Period End (continued)

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

      Level 1        Level 2        Level 3        Total  

Assets

                  

Investments

                  

Long-Term Investments

                  

Common Stocks

    $ 757,388,303        $ —        $  —        $ 757,388,303  

Short-Term Securities

                  

Money Market Funds

      10,839,238          —          —          10,839,238  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $  768,227,541        $ —        $ —        $  768,227,541  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                 

Liabilities

                  

Equity Contracts

    $ (3,038,342 )       $     (584,541 )       $              —        $ (3,622,883 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

Derivative financial instruments are options written. Options written are shown at value.

 

 

Currency Abbreviation
USD    United States Dollar
  
Portfolio Abbreviation
ADR    American Depositary Receipt

 

 

S C H E D U L E    O F    I N V E S T M E N T S

  

6