NPORT-EX 2 NPORT_6448007097311418.htm html

Eaton Vance

Tax-Managed Global Buy-Write Opportunities Fund

March 31, 2020

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 101.2%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 1.5%

 

Airbus SE(1)

      56,122      $ 3,618,850  

General Dynamics Corp.

      6,866        908,440  

L3Harris Technologies, Inc.

      7,755        1,396,831  

Northrop Grumman Corp.(1)

      12,228        3,699,581  

Raytheon Co.(1)

      20,521        2,691,329  

Rolls-Royce Holdings PLC

      74,914        316,620  

Textron, Inc.

      30,061        801,727  
     

 

 

  
   $ 13,433,378  
  

 

 

  

Air Freight & Logistics — 0.5%

 

Deutsche Post AG(1)

      123,359      $ 3,307,080  

Expeditors International of Washington, Inc.

      16,714        1,115,158  
     

 

 

  
   $ 4,422,238  
  

 

 

  

Auto Components — 0.5%

 

Aisin Seiki Co., Ltd.

      10,200      $ 249,810  

Cie Generale des Etablissements Michelin SCA(1)

      15,277        1,338,032  

Denso Corp.

      55,400        1,770,276  

Toyota Industries Corp.

      6,400        305,150  

Yokohama Rubber Co., Ltd. (The)

      75,500        935,981  
     

 

 

  
   $ 4,599,249  
  

 

 

  

Automobiles — 0.6%

 

Daimler AG(1)

      13,299      $ 397,163  

Honda Motor Co., Ltd.

      24,800        554,935  

Isuzu Motors, Ltd.

      58,000        383,837  

Mazda Motor Corp.

      26,000        137,302  

Mitsubishi Motors Corp.

      70,000        197,229  

Toyota Motor Corp.

      12,900        777,417  

Volkswagen AG, PFC Shares

      24,779        2,854,455  
     

 

 

  
   $ 5,302,338  
  

 

 

  

Banks — 3.6%

 

Banco Santander SA

      731,493      $ 1,740,090  

Bank of America Corp.

      50,000        1,061,500  

BNP Paribas SA(1)

      75,132        2,193,495  

Credit Agricole SA(1)

      243,088        1,720,064  

Danske Bank A/S(1)

      72,886        811,177  

Fifth Third Bancorp

      47,006        698,039  

HSBC Holdings PLC(1)

      551,173        3,094,158  

Huntington Bancshares, Inc.(1)

      217,053        1,782,005  

ING Groep NV(1)

      68,782        352,445  

Intesa Sanpaolo SpA

      2,079,278        3,364,395  

 

1

 

 

                                                 
Security    Shares      Value  

JPMorgan Chase & Co.(1)

      47,825      $ 4,305,685  

KBC Group NV

      22,722        1,031,014  

KeyCorp

      163,919        1,699,840  

Lloyds Banking Group PLC

      3,756,790        1,468,721  

PNC Financial Services Group, Inc. (The)

      6,406        613,182  

Royal Bank of Scotland Group PLC

      500,000        689,437  

Shinsei Bank, Ltd.(2)

      31,400        415,886  

Societe Generale SA

      147,934        2,423,475  

Standard Chartered PLC

      43,591        241,006  

Truist Financial Corp.

      25,182        776,613  

Wells Fargo & Co.

      48,698        1,397,633  
     

 

 

  
   $ 31,879,860  
  

 

 

  

Beverages — 1.5%

 

Coca-Cola Co. (The)(1)

      24,571      $ 1,087,267  

Constellation Brands, Inc., Class A(1)

      29,994        4,299,940  

Heineken Holding NV

      24,773        1,930,522  

Heineken NV

      7,692        652,773  

Kirin Holdings Co., Ltd.

      59,000        1,165,264  

PepsiCo, Inc.(1)

      32,854        3,945,765  

Takara Holdings, Inc.

      20,500        153,111  
     

 

 

  
   $ 13,234,642  
  

 

 

  

Biotechnology — 2.5%

 

AbbVie, Inc.(1)

      26,528      $ 2,021,168  

Amgen, Inc.(1)

      38,804        7,866,735  

BioMarin Pharmaceutical, Inc.(2)

      19,589        1,655,271  

Gilead Sciences, Inc.(1)

      138,508        10,354,858  
     

 

 

  
   $ 21,898,032  
  

 

 

  

Building Products — 0.6%

 

Daikin Industries, Ltd.

      47,700      $ 5,758,058  
     

 

 

  
   $ 5,758,058  
  

 

 

  

Capital Markets — 1.3%

 

CME Group, Inc.

      2,281      $ 394,408  

London Stock Exchange Group PLC

      14,000        1,252,381  

Moody’s Corp.(1)

      12,481        2,639,731  

Morgan Stanley

      35,092        1,193,128  

S&P Global, Inc.(1)

      13,142        3,220,447  

Schroders PLC(1)

      42,659        1,304,172  

St. James’s Place PLC(1)

      209,534        1,956,613  
     

 

 

  
   $ 11,960,880  
  

 

 

  

Chemicals — 3.4%

 

Air Liquide SA

      38,480      $ 4,911,872  

Air Products and Chemicals, Inc.(1)

      29,132        5,815,038  

Akzo Nobel NV

      2,842        186,914  

BASF SE(1)

      57,072        2,667,655  

Corteva, Inc.

      4,706        110,591  

Daicel Corp.(1)

      51,000        371,028  

Dow, Inc.

      4,706        137,603  

DuPont de Nemours, Inc.

      4,706        160,475  

 

2

 

 

                                                 
Security    Shares      Value  

Eastman Chemical Co.

      20,943      $ 975,525  

Johnson Matthey PLC(1)

      77,449        1,706,516  

Linde PLC(1)

      47,250        8,194,941  

Mitsubishi Gas Chemical Co., Inc.

      18,200        196,393  

Nitto Denko Corp.

      34,900        1,550,223  

Shin-Etsu Chemical Co., Ltd.

      22,800        2,240,948  

Sumitomo Chemical Co., Ltd.

      35,700        105,474  

Toray Industries, Inc.

      56,000        242,398  

Tosoh Corp.

      86,500        977,545  
     

 

 

  
   $ 30,551,139  
  

 

 

  

Commercial Services & Supplies — 0.5%

 

Rentokil Initial PLC

      97,214      $ 464,293  

SECOM Co., Ltd.

      31,800        2,630,120  

Waste Management, Inc.(1)

      10,662        986,875  
     

 

 

  
   $ 4,081,288  
  

 

 

  

Communications Equipment — 1.3%

 

Cisco Systems, Inc.(1)

      290,093      $ 11,403,556  
     

 

 

  
   $ 11,403,556  
  

 

 

  

Construction & Engineering — 0.2%

 

Ferrovial SA

      82,504      $ 1,958,375  
     

 

 

  
   $ 1,958,375  
  

 

 

  

Construction Materials — 0.2%

 

CRH PLC

      62,332      $ 1,685,641  
     

 

 

  
   $ 1,685,641  
  

 

 

  

Consumer Finance — 0.3%

 

American Express Co.(1)

      31,280      $ 2,677,881  

Navient Corp.

      50,603        383,570  
     

 

 

  
   $ 3,061,451  
  

 

 

  

Containers & Packaging — 0.2%

 

Smurfit Kappa Group PLC

      61,889      $ 1,748,126  
     

 

 

  
   $ 1,748,126  
  

 

 

  

Distributors — 0.1%

 

LKQ Corp.(2)

      53,930      $ 1,106,104  
     

 

 

  
   $ 1,106,104  
  

 

 

  

Diversified Financial Services — 0.5%

 

Berkshire Hathaway, Inc., Class B(1)(2)

      16,654      $ 3,044,851  

Groupe Bruxelles Lambert SA

      4,239        333,529  

M&G PLC(2)

      286,752        398,874  

ORIX Corp.

      41,300        492,736  
     

 

 

  
   $ 4,269,990  
  

 

 

  

Diversified Telecommunication Services — 1.2%

 

AT&T, Inc.

      14,413      $ 420,139  

BT Group PLC

      196,925        286,440  

Deutsche Telekom AG(1)

      403,141        5,206,736  

 

3

 

 

                                                 
Security    Shares      Value  

Orange SA

      260,144      $ 3,149,682  

United Internet AG

      52,975        1,540,401  

Verizon Communications, Inc.

      5,212        280,041  
     

 

 

  
   $ 10,883,439  
  

 

 

  

Electric Utilities — 1.4%

 

Acciona SA

      8,786      $ 929,297  

Edison International

      19,359        1,060,679  

Enel SpA

      226,448        1,562,002  

Iberdrola SA(1)

      877,463        8,582,470  

NextEra Energy, Inc.

      2,000        481,240  
     

 

 

  
   $ 12,615,688  
  

 

 

  

Electrical Equipment — 0.6%

 

ABB, Ltd.(1)

      107,459      $ 1,867,749  

Fujikura, Ltd.

      69,000        197,885  

Legrand SA(1)

      47,726        3,044,054  
     

 

 

  
   $ 5,109,688  
  

 

 

  

Electronic Equipment, Instruments & Components — 1.2%

 

Alps Alpine Co., Ltd.

      113,800      $ 1,096,535  

Corning, Inc.

      19,975        410,286  

Halma PLC

      82,563        1,939,080  

Kyocera Corp.

      33,800        1,994,563  

Taiyo Yuden Co., Ltd.

      89,800        2,344,856  

TDK Corp.

      40,200        3,090,944  
     

 

 

  
   $ 10,876,264  
  

 

 

  

Entertainment — 2.4%

 

Electronic Arts, Inc.(1)(2)

      53,174      $ 5,326,440  

Konami Holdings Corp.

      2,800        85,883  

Netflix, Inc.(1)(2)

      21,000        7,885,500  

Vivendi SA

      131,584        2,782,130  

Walt Disney Co. (The)(1)

      53,917        5,208,382  
     

 

 

  
   $ 21,288,335  
  

 

 

  

Equity Real Estate Investment Trusts (REITs) — 0.6%

 

American Tower Corp.(1)

      17,793      $ 3,874,426  

British Land Co. PLC (The)

      30,062        125,364  

Capital & Counties Properties PLC

      189,600        385,963  

Simon Property Group, Inc.

      13,042        715,484  
     

 

 

  
   $ 5,101,237  
  

 

 

  

Food & Staples Retailing — 0.6%

 

FamilyMart Co., Ltd.

      34,400      $ 617,683  

Seven & i Holdings Co., Ltd.

      44,200        1,459,700  

Tesco PLC

      890,919        2,515,979  

Walmart, Inc.

      5,517        626,842  
     

 

 

  
   $ 5,220,204  
  

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Food Products — 3.5%

 

Mondelez International, Inc., Class A(1)

      186,792      $ 9,354,543  

Nestle SA(1)

      203,470        20,828,773  

Nissin Foods Holdings Co., Ltd.

      11,700        970,946  

Toyo Suisan Kaisha, Ltd.

      5,000        241,663  
     

 

 

  
   $ 31,395,925  
  

 

 

  

Gas Utilities — 0.1%

 

Italgas SpA

      35,014      $ 191,575  

Snam SpA

      175,073        800,135  
     

 

 

  
   $ 991,710  
  

 

 

  

Health Care Equipment & Supplies — 1.4%

 

Abbott Laboratories(1)

      97,371      $ 7,683,546  

Olympus Corp.

      27,600        397,862  

Smith & Nephew PLC

      40,000        704,660  

Terumo Corp.

      112,600        3,857,830  
     

 

 

  
   $ 12,643,898  
  

 

 

  

Health Care Providers & Services — 1.7%

 

CVS Health Corp.(1)

      71,786      $ 4,259,064  

McKesson Corp.(1)

      16,774        2,268,851  

UnitedHealth Group, Inc.(1)

      34,811        8,681,167  
     

 

 

  
   $ 15,209,082  
  

 

 

  

Hotels, Restaurants & Leisure — 0.5%

 

Accor SA

      26,214      $ 704,266  

Six Flags Entertainment Corp.

      29,121        365,177  

Yum! Brands, Inc.(1)

      42,716        2,927,328  
     

 

 

  
   $ 3,996,771  
  

 

 

  

Household Durables — 0.6%

 

Barratt Developments PLC(1)

      263,198      $ 1,422,667  

Casio Computer Co., Ltd.

      63,200        884,247  

Nikon Corp.

      44,000        403,843  

PulteGroup, Inc.

      70,920        1,582,935  

Sekisui Chemical Co., Ltd.

      61,000        803,619  
     

 

 

  
   $ 5,097,311  
  

 

 

  

Household Products — 1.0%

 

Clorox Co. (The)(1)

      13,090      $ 2,267,843  

Henkel AG & Co. KGaA, PFC Shares

      18,309        1,464,383  

Kimberly-Clark Corp.

      6,527        834,607  

Procter & Gamble Co. (The)

      4,074        448,140  

Reckitt Benckiser Group PLC

      28,566        2,176,032  

Unicharm Corp.

      35,200        1,317,671  
     

 

 

  
   $ 8,508,676  
  

 

 

  

Industrial Conglomerates — 1.9%

 

3M Co.(1)

      18,736      $ 2,557,651  

Honeywell International, Inc.(1)

      31,549        4,220,941  

Nisshinbo Holdings, Inc.

      109,000        721,581  

Siemens AG(1)

      113,166        9,475,956  
     

 

 

  
   $ 16,976,129  
  

 

 

  

 

5

 

 

                                                 
Security    Shares      Value  

Insurance — 3.3%

 

Ageas

      22,500      $ 937,619  

Allianz SE(1)

      61,906        10,542,431  

Allstate Corp. (The)

      14,927        1,369,254  

Chubb, Ltd.

      7,404        826,953  

Cincinnati Financial Corp.

      23,801        1,795,785  

Hannover Rueck SE

      7,000        988,439  

Hartford Financial Services Group, Inc. (The)(1)

      20,077        707,513  

Legal & General Group PLC

      250,000        590,675  

Lincoln National Corp.

      17,183        452,257  

Marsh & McLennan Cos., Inc.(1)

      31,342        2,709,829  

MetLife, Inc.

      27,893        852,689  

MS&AD Insurance Group Holdings, Inc.

      37,200        1,037,922  

Principal Financial Group, Inc.

      17,247        540,521  

Prudential Financial, Inc.

      13,233        689,969  

Prudential PLC(1)

      286,752        3,592,956  

SCOR SE(1)

      61,069        1,343,593  
     

 

 

  
   $ 28,978,405  
  

 

 

  

Interactive Media & Services — 5.5%

 

Alphabet, Inc., Class A(1)(2)

      14,602      $ 16,966,794  

Alphabet, Inc., Class C(1)(2)

      12,338        14,346,750  

Facebook, Inc., Class A(1)(2)

      106,202        17,714,493  
     

 

 

  
   $ 49,028,037  
  

 

 

  

Internet & Direct Marketing Retail — 4.9%

 

Amazon.com, Inc.(1)(2)

      19,135      $ 37,307,892  

Booking Holdings, Inc.(1)(2)

      3,947        5,309,978  

Ocado Group PLC(1)(2)

      44,101        661,527  
     

 

 

  
   $ 43,279,397  
  

 

 

  

IT Services — 3.0%

 

Amadeus IT Group SA

      51,489      $ 2,423,528  

Atos SE

      13,728        914,631  

Capgemini SE(1)

      34,597        2,891,004  

Cognizant Technology Solutions Corp., Class A(1)

      59,444        2,762,363  

Fidelity National Information Services, Inc.(1)

      44,273        5,385,368  

Indra Sistemas SA(2)

      58,122        473,280  

Mastercard, Inc., Class A(1)

      16,997        4,105,795  

Nomura Research Institute, Ltd.

      24,300        513,282  

NTT Data Corp.

      62,200        595,413  

Obic Co., Ltd.

      7,300        951,114  

Otsuka Corp.

      15,600        665,036  

PayPal Holdings, Inc.(1)(2)

      52,937        5,068,188  

Perspecta, Inc.

      2,147        39,161  

Worldline SA(2)(3)

      2,251        132,857  
     

 

 

  
   $ 26,921,020  
  

 

 

  

Leisure Products — 0.2%

 

Hasbro, Inc.

      20,651      $ 1,477,579  

Yamaha Corp.

      6,800        263,537  
     

 

 

  
   $ 1,741,116  
  

 

 

  

Life Sciences Tools & Services — 0.6%

 

PerkinElmer, Inc.

      6,547      $ 492,858  

 

6

 

 

                                                 
Security    Shares      Value  

Thermo Fisher Scientific, Inc.(1)

      17,359      $ 4,923,013  
     

 

 

  
   $ 5,415,871  
  

 

 

  

Machinery — 1.1%

 

Dover Corp.

      7,424      $ 623,171  

Ebara Corp.

      25,500        479,645  

FANUC Corp.

      23,827        3,183,902  

Kawasaki Heavy Industries, Ltd.

      3,100        44,602  

Komatsu, Ltd.

      29,200        472,556  

Makita Corp.

      7,700        234,879  

NSK, Ltd.

      6,000        38,191  

Parker-Hannifin Corp.

      7,147        927,180  

SMC Corp.

      1,900        796,563  

Snap-on, Inc.

      6,143        668,481  

Stanley Black & Decker, Inc.(1)

      24,657        2,465,700  
     

 

 

  
   $ 9,934,870  
  

 

 

  

Media — 1.7%

 

Charter Communications, Inc., Class A(1)(2)

      9,419      $ 4,109,604  

Comcast Corp., Class A(1)

      306,953        10,553,044  

Hakuhodo DY Holdings, Inc.

      20,900        210,880  
     

 

 

  
   $ 14,873,528  
  

 

 

  

Metals & Mining — 0.9%

 

Glencore PLC

      1,472,251      $ 2,228,322  

Mitsubishi Materials Corp.

      5,100        104,260  

Rio Tinto PLC(1)

      127,078        5,825,541  
     

 

 

  
   $ 8,158,123  
  

 

 

  

Multi-Utilities — 1.2%

 

CMS Energy Corp.(1)

      108,509      $ 6,374,904  

Engie SA

      212,752        2,178,675  

NiSource, Inc.

      42,420        1,059,228  

Veolia Environnement SA

      37,663        795,475  
     

 

 

  
   $ 10,408,282  
  

 

 

  

Multiline Retail — 0.4%

 

Next PLC(1)

      41,584      $ 2,086,219  

Target Corp.

      15,229        1,415,840  
     

 

 

  
   $ 3,502,059  
  

 

 

  

Oil, Gas & Consumable Fuels — 2.4%

 

BP PLC(1)

      343,796      $ 1,409,888  

Chevron Corp.(1)

      32,468        2,352,631  

Eni SpA

      26,016        258,533  

Exxon Mobil Corp.

      5,272        200,178  

Idemitsu Kosan Co., Ltd.

      16,200        369,744  

Marathon Petroleum Corp.

      27,916        659,376  

Phillips 66(1)

      36,105        1,937,033  

Royal Dutch Shell PLC, Class A(1)

      189,507        3,292,433  

Royal Dutch Shell PLC, Class B

      283,587        4,756,906  

Total SA(1)

      155,146        5,845,711  
     

 

 

  
   $ 21,082,433  
  

 

 

  

 

7

 

 

                                                 
Security    Shares      Value  

Paper & Forest Products — 0.1%

 

Mondi PLC

      38,326      $ 646,775  

Oji Holdings Corp.

      13,000        69,110  
     

 

 

  
   $ 715,885  
  

 

 

  

Personal Products — 2.1%

 

Estee Lauder Cos., Inc. (The), Class A(1)

      25,480      $ 4,059,983  

Kao Corp.(1)

      49,454        4,028,930  

Unilever NV(1)

      193,140        9,493,069  

Unilever PLC

      25,759        1,299,032  
     

 

 

  
   $ 18,881,014  
  

 

 

  

Pharmaceuticals — 8.4%

 

Astellas Pharma, Inc.

      205,900      $ 3,172,375  

AstraZeneca PLC(1)

      97,424        8,680,371  

Bayer AG(1)

      32,735        1,875,664  

Bristol-Myers Squibb Co.

      37,686        2,100,618  

Chugai Pharmaceutical Co., Ltd.

      61,300        7,092,151  

Eisai Co., Ltd.

      13,646        998,169  

Eli Lilly & Co.

      13,232        1,835,543  

Johnson & Johnson(1)

      15,601        2,045,759  

Merck & Co., Inc.(1)

      103,665        7,975,985  

Novartis AG(1)

      154,782        12,769,326  

Pfizer, Inc.

      14,458        471,909  

Roche Holding AG PC

      50,591        16,277,242  

Sanofi(1)

      103,989        9,002,826  

UCB SA

      9,177        785,204  
     

 

 

  
   $ 75,083,142  
  

 

 

  

Professional Services — 0.6%

 

Equifax, Inc.

      15,217      $ 1,817,671  

Experian PLC

      85,608        2,379,160  

Recruit Holdings Co., Ltd.

      12,500        322,891  

Robert Half International, Inc.

      30,884        1,165,871  

Wolters Kluwer NV

      961        68,145  
     

 

 

  
   $ 5,753,738  
  

 

 

  

Real Estate Management & Development — 0.4%

 

CBRE Group, Inc., Class A(2)

      37,761      $ 1,423,967  

Daito Trust Construction Co., Ltd.

      6,300        585,040  

Heiwa Real Estate Co., Ltd.

      34,400        888,701  

Sumitomo Realty & Development Co., Ltd.

      23,000        561,610  
     

 

 

  
   $ 3,459,318  
  

 

 

  

Road & Rail — 1.1%

 

Central Japan Railway Co.

      3,400      $ 544,922  

CSX Corp.(1)

      101,314        5,805,292  

East Japan Railway Co.

      2,900        219,444  

Kansas City Southern

      15,468        1,967,220  

Keio Corp.

      15,200        897,308  
     

 

 

  
   $ 9,434,186  
  

 

 

  

Semiconductors & Semiconductor Equipment — 5.2%

 

ASML Holding NV

      28,290      $ 7,457,656  

Infineon Technologies AG

      90,000        1,299,217  

 

8

 

 

                                                 
Security    Shares      Value  

Intel Corp.(1)

      280,224      $ 15,165,723  

Marvell Technology Group, Ltd.

      84,177        1,904,926  

Maxim Integrated Products, Inc.

      18,000        874,980  

NXP Semiconductors NV(1)

      40,985        3,398,886  

STMicroelectronics NV

      35,000        752,380  

Texas Instruments, Inc.(1)

      89,785        8,972,215  

Tokyo Electron, Ltd.

      36,500        6,802,630  
     

 

 

  
   $ 46,628,613  
  

 

 

  

Software — 7.2%

 

Adobe, Inc.(1)(2)

      13,000      $ 4,137,120  

Citrix Systems, Inc.(1)

      33,243        4,705,547  

Dassault Systemes SE

      6,700        978,140  

Microsoft Corp.(1)

      298,327        47,049,151  

Oracle Corp.(1)

      74,688        3,609,671  

Sage Group PLC (The)

      313,890        2,282,465  

salesforce.com, inc.(2)

      4,000        575,920  

Trend Micro, Inc.

      14,097        696,141  
     

 

 

  
   $ 64,034,155  
  

 

 

  

Specialty Retail — 2.3%

 

Fast Retailing Co., Ltd.

      23,400      $ 9,548,180  

Fnac Darty SA(2)

      922        24,371  

Home Depot, Inc. (The)(1)

      21,311        3,978,977  

Lowe’s Cos., Inc.(1)

      44,810        3,855,900  

Tiffany & Co.(1)

      19,173        2,482,904  

USS Co., Ltd.

      27,200        372,979  
     

 

 

  
   $ 20,263,311  
  

 

 

  

Technology Hardware, Storage & Peripherals — 5.0%

 

Apple, Inc.(1)

      170,296      $ 43,304,570  

Canon, Inc.

      4,600        99,962  

Hewlett Packard Enterprise Co.

      78,955        766,653  

HP, Inc.

      39,615        687,716  
     

 

 

  
   $ 44,858,901  
  

 

 

  

Textiles, Apparel & Luxury Goods — 2.7%

 

adidas AG

      17,523      $ 3,890,584  

Kering(1)

      8,281        4,317,817  

LVMH Moet Hennessy Louis Vuitton SE(1)

      32,072        11,762,440  

NIKE, Inc., Class B(1)

      52,928        4,379,263  
     

 

 

  
   $ 24,350,104  
  

 

 

  

Tobacco — 1.2%

 

British American Tobacco PLC(1)

      211,393      $ 7,201,158  

Japan Tobacco, Inc.

      76,500        1,414,997  

Philip Morris International, Inc.(1)

      31,523        2,299,918  
     

 

 

  
   $ 10,916,073  
  

 

 

  

Trading Companies & Distributors — 0.5%

 

Ferguson PLC

      45,384      $ 2,806,204  

Marubeni Corp.

      20,000        99,261  

Mitsubishi Corp.

      29,500        623,991  

Sumitomo Corp.

      96,700        1,102,790  
     

 

 

  
   $ 4,632,246  
  

 

 

  

 

9

 

 

                                                 
Security    Shares      Value  

Transportation Infrastructure — 0.1%

 

Aeroports de Paris

      6,667      $ 644,072  
     

 

 

  
   $ 644,072  
  

 

 

  

Wireless Telecommunication Services — 1.1%

 

KDDI Corp.

      137,900      $ 4,073,371  

SoftBank Group Corp.

      158,196        5,600,515  

Vodafone Group PLC

      100,000        138,344  
     

 

 

  
   $ 9,812,230  
  

 

 

  

Total Common Stocks — 101.2%
(identified cost $389,477,449)

 

    $ 901,058,831  
     

 

 

  

Total Investments — 101.2%
(identified cost $389,477,449)

       $ 901,058,831  
     

 

 

  

Total Written Call Options — (2.3)%
(premiums received $19,372,775)

 

    $ (20,441,117 ) 
  

 

 

  

Other Assets, Less Liabilities — 1.1%

 

    $ 9,846,564  
  

 

 

  

Net Assets — 100.0%

 

    $ 890,464,278  
  

 

 

  

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

 

(1)

Security (or a portion thereof) has been pledged as collateral for written options.

 

(2)

Non-income producing security.

 

(3)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At March 31, 2020, the aggregate value of these securities is $132,857 or less than 0.05% of the Fund’s net assets.

Country Concentration of Portfolio

 

                                                 
Country    Percentage of
Total Investments		     Value  

United States

      55.6 %    $ 500,781,946  

Japan

      11.3       101,875,426  

United Kingdom

      8.0       72,326,952  

France

      7.4       66,717,532  

Switzerland

      5.7       51,743,090  

Germany

      5.1       45,510,164  

Netherlands

      2.6       23,540,410  

Spain

      1.8       16,107,040  

Ireland

      1.3       11,628,708  

Italy

      0.8       6,929,020  

Belgium

      0.3       3,087,366  

Denmark

      0.1       811,177  
  

 

 

    

 

 

  

Total Investments

      100.0 %    $ 901,058,831  
  

 

 

    

 

 

  

 

10

 

 

Written Call Options — (2.3)%

Exchange-Traded Options — (2.3)%

Description    Number of
Contracts		    

Notional
Amount

     Exercise
Price		    Expiration
Date		      Value  

Dow Jones Euro Stoxx 50 Index

      1,320       EUR        36,787,080       EUR      3,450      4/3/20      $ (32 ) 

Dow Jones Euro Stoxx 50 Index

      1,440       EUR        40,131,360       EUR      2,900      4/9/20        (454,898 ) 

Dow Jones Euro Stoxx 50 Index

      1,430       EUR        39,852,670       EUR      2,750      4/17/20        (1,948,158 ) 

Dow Jones Euro Stoxx 50 Index

      1,380       EUR        38,459,220       EUR      2,900      4/24/20        (957,340 ) 

FTSE 100 Index

      620       GBP        35,166,400       GBP      5,500      4/17/20        (2,341,608 ) 

FTSE 100 Index

      600       GBP        34,032,000       GBP      5,700      4/17/20        (1,369,910 ) 

NASDAQ 100 Index

      21       USD        16,408,350       USD      9,000      4/3/20        (1,995 ) 

NASDAQ 100 Index

      22       USD        17,189,700       USD      8,800      4/6/20        (4,620 ) 

NASDAQ 100 Index

      21       USD        16,408,350       USD      8,750      4/8/20        (10,658 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      8,100      4/9/20        (225,400 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      7,800      4/13/20        (559,500 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      7,900      4/15/20        (483,000 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      7,800      4/17/20        (629,900 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      7,600      4/20/20        (924,000 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      7,900      4/22/20        (591,900 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      8,000      4/24/20        (521,200 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      8,100      4/27/20        (433,300 ) 

NASDAQ 100 Index

      20       USD        15,627,000       USD      8,300      4/29/20        (304,300 ) 

Nikkei 225 Index

      140       JPY        2,648,381,400       JPY      21,625      4/3/20        (4,599 ) 

Nikkei 225 Index

      135       JPY        2,553,796,350       JPY      20,000      4/10/20        (288,452 ) 

Nikkei 225 Index

      140       JPY        2,648,381,400       JPY      18,500      4/17/20        (1,452,522 ) 

Nikkei 225 Index

      130       JPY        2,459,211,300       JPY      20,000      4/24/20        (498,857 ) 

S&P 500 Index

      96       USD        24,812,064       USD      3,025      4/6/20        (1,920 ) 

S&P 500 Index

      91       USD        23,519,769       USD      3,000      4/8/20        (3,185 ) 

S&P 500 Index

      86       USD        22,227,474       USD      2,850      4/9/20        (21,930 ) 

S&P 500 Index

      94       USD        24,295,146       USD      2,700      4/13/20        (291,400 ) 

S&P 500 Index

      93       USD        24,036,687       USD      2,600      4/15/20        (793,755 ) 

S&P 500 Index

      89       USD        23,002,851       USD      2,600      4/17/20        (825,920 ) 

S&P 500 Index

      91       USD        23,519,769       USD      2,525      4/20/20        (1,310,400 ) 

S&P 500 Index

      92       USD        23,778,228       USD      2,525      4/22/20        (1,387,360 ) 

S&P 500 Index

      89       USD        23,002,851       USD      2,700      4/24/20        (507,300 ) 

S&P 500 Index

      91       USD        23,519,769       USD      2,700      4/27/20        (549,640 ) 

S&P 500 Index

      90       USD        23,261,310       USD      2,750      4/29/20        (377,550 ) 

SMI Index

      370       CHF        34,454,104       CHF      9,800      4/17/20        (364,608 ) 
                  

 

 

  

Total

 

    $   (20,441,117 ) 
  

 

 

  

Abbreviations:

 

PC

   -   Participation Certificate

PFC Shares

   -   Preference Shares

Currency Abbreviations:

 

CHF

   -   Swiss Franc

EUR

   -   Euro

GBP

   -   British Pound Sterling

JPY

   -   Japanese Yen

USD

   -   United States Dollar

 

11

 

 

At March 31, 2020, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.

The Fund is subject to equity price risk in the normal course of pursuing its investment objectives. The Fund writes index call options above the current value of the index to generate premium income. In writing index call options, the Fund in effect, sells potential appreciation in the value of the applicable index above the exercise price in exchange for the option premium received. The Fund retains the risk of loss, minus the premium received, should the value of the underlying index decline.

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

 

•  

Level 1 — quoted prices in active markets for identical investments

 

•  

Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

 

•  

Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At March 31, 2020, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:

 

Asset Description    Level 1      Level 2      Level 3      Total  
Common Stocks

 

Communication Services

    $ 82,811,187      $ 23,074,382      $ —      $ 105,885,569  

Consumer Discretionary

      66,189,877        47,047,883        —        113,237,760  

Consumer Staples

      29,224,848        58,931,686        —        88,156,534  

Energy

      5,149,218        15,933,215        —        21,082,433  

Financials

      35,833,283        44,317,303        —        80,150,586  

Health Care

      64,636,345        65,613,680        —        130,250,025  

Industrials

      33,819,119        48,319,147        —        82,138,266  

Information Technology

      164,327,795        40,394,714        —        204,722,509  

Materials

      7,199,232        35,659,682        —        42,858,914  

Real Estate

      6,013,877        2,546,678        —        8,560,555  

Utilities

      8,976,051        15,039,629        —        24,015,680  

Total Common Stocks

    $     504,180,832      $ 396,877,999 *     $ —      $ 901,058,831  

Total Investments

    $ 504,180,832      $     396,877,999      $     —      $     901,058,831  
Liability Description                          

Written Call Options

    $ (10,760,133 )     $ (9,680,984 )     $ —      $ (20,441,117 ) 

Total

    $ (10,760,133 )     $ (9,680,984 )     $ —      $ (20,441,117 ) 

 

*

Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

 

12