Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

811-21745

Investment Company Act File Number

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number, Including Area Code)

December 31

Date of Fiscal Year End

September 30, 2018

Date of Reporting Period

 

 

 


Item 1. Schedule of Investments


Eaton Vance

Tax-Managed Global Buy-Write Opportunities Fund

September 30, 2018

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.6%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 2.1%

     

Airbus SE(1)

     56,122      $ 7,045,705  

General Dynamics Corp.(1)

     6,866        1,405,608  

L3 Technologies, Inc.(1)

     5,966        1,268,491  

Northrop Grumman Corp.(1)

     13,028        4,134,696  

Raytheon Co.(1)

     33,521        6,927,450  

Rolls-Royce Holdings PLC

     156,584        2,014,515  

Textron, Inc.(1)

     30,061        2,148,460  
     

 

 

 
      $ 24,944,925  
     

 

 

 

Air Freight & Logistics — 0.3%

     

Deutsche Post AG(1)

     61,060      $ 2,170,949  

Expeditors International of Washington, Inc.(1)

     16,714        1,228,980  
     

 

 

 
      $ 3,399,929  
     

 

 

 

Airlines — 0.0%(2)

     

International Consolidated Airlines Group SA

     65,562      $ 563,625  
     

 

 

 
      $ 563,625  
     

 

 

 

Auto Components — 0.8%

     

Aisin Seiki Co., Ltd.

     10,200      $ 496,937  

Cie Generale des Etablissements Michelin SCA(1)

     26,277        3,136,311  

Denso Corp.

     60,300        3,185,526  

Toyoda Gosei Co., Ltd.

     12,800        316,112  

Toyota Industries Corp.

     6,400        378,798  

Yokohama Rubber Co., Ltd. (The)

     75,500        1,627,332  
     

 

 

 
      $ 9,141,016  
     

 

 

 

Automobiles — 1.0%

     

Daimler AG(1)

     132,059      $ 8,322,656  

Honda Motor Co., Ltd.

     29,800        897,464  

Isuzu Motors, Ltd.

     99,500        1,568,571  

Mazda Motor Corp.

     46,900        563,738  

Toyota Motor Corp.

     14,400        897,160  

Volkswagen AG, PFC Shares

     1,805        316,981  
     

 

 

 
      $ 12,566,570  
     

 

 

 

Banks — 5.9%

     

Banco Bilbao Vizcaya Argentaria SA

     41,559      $ 263,494  

Banco Santander SA(1)

     1,466,812        7,343,825  

Bank of America Corp.(1)

     50,000        1,473,000  

BNP Paribas SA(1)

     100,600        6,160,403  

Citigroup, Inc.

     10,022        718,978  

Credit Agricole SA(1)

     243,088        3,494,387  

Danske Bank A/S(1)

     72,886        1,910,526  

Fifth Third Bancorp(1)

     112,006        3,127,208  

First Horizon National Corp.

     9,470        163,452  

Hiroshima Bank, Ltd. (The)

     43,500        294,358  

 

1

 

 


                                                 
Security    Shares      Value  

HSBC Holdings PLC(1)

     802,083      $ 6,998,480  

Huntington Bancshares, Inc.(1)

     307,053        4,581,231  

ING Groep NV(1)

     426,434        5,534,729  

Intesa Sanpaolo SpA(1)

     2,091,453        5,328,883  

JPMorgan Chase & Co.(1)

     47,825        5,396,573  

KBC Group NV

     22,722        1,689,572  

KeyCorp(1)

     218,919        4,354,299  

Lloyds Banking Group PLC

     927,572        713,384  

PNC Financial Services Group, Inc. (The)

     6,406        872,433  

Shinsei Bank, Ltd.

     31,400        512,986  

Societe Generale SA(1)

     130,261        5,593,458  

SunTrust Banks, Inc.(1)

     19,446        1,298,798  

Wells Fargo & Co.(1)

     51,808        2,723,029  
     

 

 

 
      $ 70,547,486  
     

 

 

 

Beverages — 1.3%

     

Coca-Cola Co. (The)(1)

     24,571      $ 1,134,934  

Constellation Brands, Inc., Class A(1)

     29,994        6,467,306  

Heineken Holding NV

     24,773        2,246,329  

Heineken NV

     7,692        721,899  

Kirin Holdings Co., Ltd.

     59,000        1,513,228  

PepsiCo, Inc.(1)

     24,854        2,778,677  

Takara Holdings, Inc.

     20,500        301,426  
     

 

 

 
      $ 15,163,799  
     

 

 

 

Biotechnology — 3.4%

     

AbbVie, Inc.(1)

     47,758      $ 4,516,952  

Amgen, Inc.(1)

     64,759        13,423,893  

BioMarin Pharmaceutical, Inc.(1)(3)

     19,589        1,899,545  

Celgene Corp.(1)(3)

     92,074        8,239,702  

Gilead Sciences, Inc.(1)

     143,508        11,080,253  

Shire PLC(1)

     22,601        1,365,460  
     

 

 

 
      $ 40,525,805  
     

 

 

 

Building Products — 0.6%

     

Daikin Industries, Ltd.

     53,200      $ 7,081,111  
     

 

 

 
      $ 7,081,111  
     

 

 

 

Capital Markets — 1.6%

     

CME Group, Inc.

     2,281      $ 388,249  

GAM Holding AG

     23,549        167,449  

Moody’s Corp.(1)

     18,539        3,099,721  

Morgan Stanley(1)

     65,092        3,031,334  

S&P Global, Inc.(1)

     27,142        5,303,275  

Schroders PLC(1)

     62,659        2,523,802  

St. James’s Place PLC(1)

     209,534        3,123,231  

State Street Corp.(1)

     17,058        1,429,119  
     

 

 

 
      $ 19,066,180  
     

 

 

 

Chemicals — 2.8%

     

AdvanSix, Inc.(3)

     1,261      $ 42,811  

Air Products and Chemicals, Inc.(1)

     31,040        5,185,232  

Akzo Nobel NV

     10,908        1,020,371  

BASF SE(1)

     108,986        9,670,675  

Daicel Corp.(1)

     51,000        592,418  

DowDuPont, Inc.(1)

     14,120        908,057  

 

2

 

 


                                                 
Security    Shares      Value  

Eastman Chemical Co.(1)

     20,943      $ 2,004,664  

Johnson Matthey PLC(1)

     77,449        3,593,882  

Linde AG(1)

     16,210        3,347,920  

Mitsubishi Gas Chemical Co., Inc.

     23,700        504,526  

Nitto Denko Corp.

     35,200        2,639,111  

Shin-Etsu Chemical Co., Ltd.

     22,800        2,015,707  

Sumitomo Chemical Co., Ltd.

     25,000        146,309  

Toray Industries, Inc.

     56,000        420,170  

Tosoh Corp.

     86,500        1,332,267  
     

 

 

 
      $ 33,424,120  
     

 

 

 

Commercial Services & Supplies — 0.3%

     

SECOM Co., Ltd.

     36,900      $ 3,007,042  

Waste Management, Inc.(1)

     10,662        963,419  
     

 

 

 
      $ 3,970,461  
     

 

 

 

Communications Equipment — 1.5%

     

Cisco Systems, Inc.(1)

     333,665      $ 16,232,802  

Nokia Oyj

     245,912        1,367,213  
     

 

 

 
      $ 17,600,015  
     

 

 

 

Construction & Engineering — 0.1%

     

Ferrovial SA

     84,907      $ 1,756,994  
     

 

 

 
      $ 1,756,994  
     

 

 

 

Construction Materials — 0.2%

     

CRH PLC

     62,332      $ 2,039,153  

Imerys SA

     4,825        356,300  
     

 

 

 
      $ 2,395,453  
     

 

 

 

Consumer Finance — 0.4%

     

American Express Co.(1)

     42,280      $ 4,502,397  

Navient Corp.

     50,603        682,129  
     

 

 

 
      $ 5,184,526  
     

 

 

 

Containers & Packaging — 0.1%

     

International Paper Co.

     16,999      $ 835,501  

Sealed Air Corp.

     20,464        821,630  

Toyo Seikan Kaisha, Ltd.

     1,600        33,201  
     

 

 

 
      $ 1,690,332  
     

 

 

 

Distributors — 0.1%

     

LKQ Corp.(1)(3)

     53,930      $ 1,707,963  
     

 

 

 
      $ 1,707,963  
     

 

 

 

Diversified Financial Services — 0.7%

     

Berkshire Hathaway, Inc., Class B(1)(3)

     16,654      $ 3,565,788  

Groupe Bruxelles Lambert SA

     4,239        444,346  

Investor AB, Class B

     56,000        2,580,569  

ORIX Corp.

     41,300        668,714  

Standard Life Aberdeen PLC

     192,564        767,295  
     

 

 

 
      $ 8,026,712  
     

 

 

 

Diversified Telecommunication Services — 1.3%

     

AT&T, Inc.

     14,413      $ 483,989  

BT Group PLC(1)

     454,642        1,334,531  

Deutsche Telekom AG(1)

     220,347        3,547,285  

 

3

 

 


                                                 
Security    Shares      Value  

Orange SA

     96,906      $ 1,541,932  

Telefonica SA

     150,000        1,183,250  

United Internet AG

     32,975        1,559,054  

Verizon Communications, Inc.(1)

     101,639        5,426,506  
     

 

 

 
      $ 15,076,547  
     

 

 

 

Electric Utilities — 0.7%

     

Acciona SA

     8,786      $ 794,399  

Edison International

     19,359        1,310,217  

Iberdrola SA(1)

     823,629        6,049,433  
     

 

 

 
      $ 8,154,049  
     

 

 

 

Electrical Equipment — 0.8%

     

ABB, Ltd.(1)

     258,273      $ 6,109,388  

Fujikura, Ltd.

     69,000        325,959  

Legrand SA(1)

     47,726        3,479,998  

Mabuchi Motor Co., Ltd.

     3,600        145,220  
     

 

 

 
      $ 10,060,565  
     

 

 

 

Electronic Equipment, Instruments & Components — 1.0%

     

Alps Electric Co., Ltd.

     113,800      $ 2,893,095  

Corning, Inc.

     19,975        705,117  

Kyocera Corp.

     38,900        2,334,840  

Taiyo Yuden Co., Ltd.

     100,500        2,258,889  

TDK Corp.

     40,200        4,380,158  
     

 

 

 
      $ 12,572,099  
     

 

 

 

Energy Equipment & Services — 0.1%

     

Apergy Corp.(3)

     3,712      $ 161,695  

Halliburton Co.(1)

     10,216        414,054  
     

 

 

 
      $ 575,749  
     

 

 

 

Entertainment — 1.8%

     

Electronic Arts, Inc.(1)(3)

     53,174      $ 6,406,935  

Konami Holdings Corp.

     5,500        215,359  

Netflix, Inc.(1)(3)

     21,000        7,856,730  

Walt Disney Co. (The)(1)

     58,917        6,889,754  
     

 

 

 
      $ 21,368,778  
     

 

 

 

Equity Real Estate Investment Trusts (REITs) — 0.7%

     

American Tower Corp.(1)

     17,793      $ 2,585,323  

British Land Co. PLC (The)

     249,761        2,008,870  

Simon Property Group, Inc.(1)

     19,951        3,526,339  
     

 

 

 
      $ 8,120,532  
     

 

 

 

Food & Staples Retailing — 0.4%

     

FamilyMart UNY Holdings Co., Ltd.

     8,600      $ 896,144  

Kroger Co. (The)

     20,000        582,200  

Seven & i Holdings Co., Ltd.

     44,200        1,970,653  

Walmart, Inc.

     8,421        790,816  
     

 

 

 
      $ 4,239,813  
     

 

 

 

Food Products — 2.5%

     

Maruha Nichiro Corp.

     9,700      $ 358,057  

Mondelez International, Inc., Class A(1)

     224,275        9,634,854  

Nestle SA

     225,170        18,742,374  

 

4

 

 


                                                 
Security    Shares      Value  

Nissin Foods Holdings Co., Ltd.

     11,700      $ 804,808  

Toyo Suisan Kaisha, Ltd.

     5,000        194,112  

Yakult Honsha Co., Ltd.

     5,700        467,460  
     

 

 

 
      $ 30,201,665  
     

 

 

 

Gas Utilities — 0.0%(2)

     

Italgas SpA

     35,014      $ 189,942  
     

 

 

 
      $ 189,942  
     

 

 

 

Health Care Equipment & Supplies — 1.2%

     

Abbott Laboratories(1)

     113,910      $ 8,356,438  

EssilorLuxottica SA

     14,000        2,072,276  

Olympus Corp.

     6,900        269,244  

Terumo Corp.

     56,300        3,332,060  
     

 

 

 
      $ 14,030,018  
     

 

 

 

Health Care Providers & Services — 1.6%

     

CVS Health Corp.(1)

     71,786      $ 5,650,994  

DaVita, Inc.(1)(3)

     12,963        928,540  

Fresenius SE & Co. KGaA

     8,764        642,666  

McKesson Corp.(1)

     16,774        2,225,071  

UnitedHealth Group, Inc.(1)

     34,811        9,261,119  
     

 

 

 
      $ 18,708,390  
     

 

 

 

Hotels, Restaurants & Leisure — 0.6%

     

Accor SA

     26,214      $ 1,346,663  

Six Flags Entertainment Corp.(1)

     29,121        2,033,228  

Yum! Brands, Inc.(1)

     42,716        3,883,312  
     

 

 

 
      $ 7,263,203  
     

 

 

 

Household Durables — 0.5%

     

Barratt Developments PLC(1)

     337,253      $ 2,490,597  

Casio Computer Co., Ltd.

     63,200        1,033,022  

PulteGroup, Inc.(1)

     70,920        1,756,688  

Sekisui Chemical Co., Ltd.

     61,000        1,124,903  
     

 

 

 
      $ 6,405,210  
     

 

 

 

Household Products — 0.7%

     

Clorox Co. (The)(1)

     13,090      $ 1,968,867  

Henkel AG & Co. KGaA, PFC Shares

     18,309        2,146,743  

Kimberly-Clark Corp.

     6,527        741,728  

Procter & Gamble Co. (The)

     2,074        172,619  

Reckitt Benckiser Group PLC

     20,566        1,878,704  

Unicharm Corp.

     37,200        1,230,786  
     

 

 

 
      $ 8,139,447  
     

 

 

 

Industrial Conglomerates — 2.2%

     

3M Co.(1)

     27,304      $ 5,753,226  

Honeywell International, Inc.(1)

     31,549        5,249,754  

Nisshinbo Holdings, Inc.

     109,000        1,297,853  

Siemens AG(1)

     113,166        14,469,808  
     

 

 

 
      $ 26,770,641  
     

 

 

 

Insurance — 4.0%

     

Ageas

     22,500      $ 1,209,570  

Allianz SE(1)

     66,106        14,713,001  

Allstate Corp. (The)(1)

     14,927        1,473,295  

 

5

 

 


                                                 
Security    Shares      Value  

Chubb, Ltd.(1)

     7,404      $ 989,471  

Cincinnati Financial Corp.(1)

     23,801        1,828,155  

Hartford Financial Services Group, Inc.(1)

     40,077        2,002,247  

Lincoln National Corp.(1)

     22,183        1,500,902  

Marsh & McLennan Cos., Inc.(1)

     33,742        2,791,138  

MetLife, Inc.(1)

     47,093        2,200,185  

MS&AD Insurance Group Holdings, Inc.

     37,200        1,242,627  

Principal Financial Group, Inc.(1)

     36,247        2,123,712  

Prudential Financial, Inc.(1)

     25,233        2,556,607  

Prudential PLC(1)

     349,752        8,019,133  

SCOR SE(1)

     63,370        2,937,930  

Swiss Life Holding AG(1)

     8,264        3,133,471  
     

 

 

 
      $ 48,721,444  
     

 

 

 

Interactive Media & Services — 5.6%

     

Alphabet, Inc., Class A(1)(3)

     19,798      $ 23,897,770  

Alphabet, Inc., Class C(1)(3)

     15,787        18,841,311  

Facebook, Inc., Class A(1)(3)

     151,584        24,929,504  
     

 

 

 
      $ 67,668,585  
     

 

 

 

Internet & Direct Marketing Retail — 4.9%

     

Amazon.com, Inc.(1)(3)

     25,275      $ 50,625,825  

Booking Holdings, Inc.(1)(3)

     3,947        7,830,848  
     

 

 

 
      $ 58,456,673  
     

 

 

 

IT Services — 2.8%

     

Amadeus IT Group SA

     24,489      $ 2,269,859  

Atos SE

     5,628        669,659  

Capgemini SE(1)

     34,597        4,355,685  

Cognizant Technology Solutions Corp., Class A(1)

     79,444        6,129,104  

DXC Technology Co.

     4,294        401,575  

Fidelity National Information Services, Inc.(1)

     44,273        4,828,856  

Indra Sistemas SA(3)

     58,122        665,783  

Mastercard, Inc., Class A(1)

     32,320        7,194,755  

Nomura Research Institute, Ltd.

     8,100        409,034  

NTT Data Corp.

     74,000        1,024,398  

Obic Co., Ltd.

     7,300        690,446  

Otsuka Corp.

     15,600        581,881  

PayPal Holdings, Inc.(1)(3)

     52,937        4,649,986  

Perspecta, Inc.

     2,147        55,221  
     

 

 

 
      $ 33,926,242  
     

 

 

 

Leisure Products — 0.2%

     

Hasbro, Inc.(1)

     21,651      $ 2,275,953  

Yamaha Corp.

     6,800        360,318  
     

 

 

 
      $ 2,636,271  
     

 

 

 

Life Sciences Tools & Services — 0.4%

     

PerkinElmer, Inc.

     6,547      $ 636,826  

Thermo Fisher Scientific, Inc.(1)

     17,359        4,236,985  
     

 

 

 
      $ 4,873,811  
     

 

 

 

Machinery — 1.5%

     

Dover Corp.

     7,424      $ 657,247  

Ebara Corp.

     30,600        1,055,749  

FANUC Corp.

     37,427        7,041,243  

 

6

 

 


                                                 
Security    Shares      Value  

Kawasaki Heavy Industries, Ltd.

     3,100      $ 87,429  

Komatsu, Ltd.

     29,200        888,582  

Makita Corp.

     13,400        671,020  

MAN SE

     7,139        776,073  

NSK, Ltd.

     6,000        68,774  

Parker-Hannifin Corp.(1)

     7,147        1,314,548  

SMC Corp.

     1,900        608,135  

Snap-on, Inc.

     6,143        1,127,855  

Stanley Black & Decker, Inc.(1)

     24,657        3,610,771  
     

 

 

 
      $ 17,907,426  
     

 

 

 

Marine — 0.0%(2)

     

Mitsui O.S.K. Lines, Ltd.

     11,100      $ 323,905  
     

 

 

 
      $ 323,905  
     

 

 

 

Media — 2.4%

     

Charter Communications, Inc., Class A(1)(3)

     9,419      $ 3,069,464  

Comcast Corp., Class A(1)

     396,882        14,053,592  

Dentsu, Inc.

     11,400        529,441  

Hakuhodo DY Holdings, Inc.

     20,900        367,074  

ProSiebenSat.1 Media SE

     27,382        709,413  

Sky PLC(1)

     447,757        10,089,529  
     

 

 

 
      $ 28,818,513  
     

 

 

 

Metals & Mining — 1.3%

     

Glencore PLC(1)

     1,472,251      $ 6,346,402  

Mitsubishi Materials Corp.

     8,000        239,017  

Nippon Light Metal Holdings Co., Ltd.

     200,000        446,929  

Nucor Corp.(1)

     23,673        1,502,052  

Rio Tinto PLC(1)

     142,688        7,197,405  
     

 

 

 
      $ 15,731,805  
     

 

 

 

Multi-Utilities — 0.8%

     

CMS Energy Corp.(1)

     118,010      $ 5,782,490  

Engie SA

     142,752        2,101,630  

NiSource, Inc.(1)

     42,420        1,057,107  

Veolia Environnement SA

     37,663        751,551  
     

 

 

 
      $ 9,692,778  
     

 

 

 

Multiline Retail — 0.5%

     

Isetan Mitsukoshi Holdings, Ltd.

     62,132      $ 762,794  

Marks & Spencer Group PLC

     398,770        1,500,348  

Next PLC(1)

     41,584        2,976,003  

Target Corp.(1)

     15,229        1,343,350  
     

 

 

 
      $ 6,582,495  
     

 

 

 

Oil, Gas & Consumable Fuels — 4.4%

     

BP PLC(1)

     1,013,220      $ 7,766,066  

Chevron Corp.(1)

     65,240        7,977,547  

ConocoPhillips(1)

     20,000        1,548,000  

ENI SpA(1)

     351,386        6,623,475  

EOG Resources, Inc.

     361        46,053  

Exxon Mobil Corp.(1)

     27,918        2,373,588  

Hess Corp.

     6,659        476,651  

Idemitsu Kosan Co., Ltd.

     6,200        328,256  

Marathon Petroleum Corp.(1)

     27,916        2,232,442  

 

7

 

 


                                                 
Security    Shares      Value  

Phillips 66(1)

     36,105      $ 4,069,756  

Pioneer Natural Resources Co.

     4,000        696,760  

Royal Dutch Shell PLC, Class A(1)

     189,507        6,497,900  

Royal Dutch Shell PLC, Class B

     30,575        1,070,325  

Snam SpA

     175,073        728,038  

Total SA(1)

     166,408        10,819,973  
     

 

 

 
      $ 53,254,830  
     

 

 

 

Paper & Forest Products — 0.0%(2)

     

OJI Paper Co., Ltd.

     13,000      $ 94,405  
     

 

 

 
      $ 94,405  
     

 

 

 

Personal Products — 1.7%

     

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

     25,480      $ 3,702,754  

Kao Corp.(1)

     61,054        4,931,807  

Unilever NV(1)

     193,140        10,743,384  

Unilever PLC

     15,759        865,706  
     

 

 

 
      $ 20,243,651  
     

 

 

 

Pharmaceuticals — 6.5%

     

Astellas Pharma, Inc.

     215,900      $ 3,770,255  

AstraZeneca PLC(1)

     97,424        7,593,621  

Bayer AG(1)

     31,622        2,804,893  

Chugai Pharmaceutical Co., Ltd.

     92,300        5,933,349  

Eisai Co., Ltd.

     13,646        1,329,355  

Eli Lilly & Co.(1)

     13,232        1,419,926  

Hisamitsu Pharmaceutical Co., Inc.

     1,400        107,369  

Indivior PLC(3)

     25,431        60,992  

Johnson & Johnson(1)

     39,859        5,507,318  

Merck & Co., Inc.(1)

     103,665        7,353,995  

Mitsubishi Tanabe Pharma Corp.

     10,000        167,367  

Novartis AG

     177,832        15,307,503  

Pfizer, Inc.

     14,458        637,164  

Roche Holding AG PC

     59,291        14,337,471  

Sanofi(1)

     124,447        11,118,989  

UCB SA

     9,177        824,682  
     

 

 

 
      $ 78,274,249  
     

 

 

 

Professional Services — 0.6%

     

Equifax, Inc.(1)

     15,217      $ 1,986,884  

Experian PLC

     85,608        2,196,706  

Recruit Holdings Co., Ltd.

     12,500        417,518  

Robert Half International, Inc.(1)

     30,884        2,173,616  

Wolters Kluwer NV

     961        59,908  
     

 

 

 
      $ 6,834,632  
     

 

 

 

Real Estate Management & Development — 0.4%

     

Capital & Counties Properties PLC

     189,600      $ 657,844  

CBRE Group, Inc., Class A(1)(3)

     37,761        1,665,260  

Daito Trust Construction Co., Ltd.

     6,300        811,855  

Heiwa Real Estate Co., Ltd.

     34,400        608,113  

Sumitomo Realty & Development Co., Ltd.

     23,000        825,112  
     

 

 

 
      $ 4,568,184  
     

 

 

 

 

8

 

 


                                                 
Security    Shares      Value  

Road & Rail — 1.0%

     

Central Japan Railway Co.

     3,400      $ 707,873  

CSX Corp.(1)

     115,014        8,516,787  

East Japan Railway Co.

     6,400        594,490  

Kansas City Southern(1)

     15,468        1,752,215  

Keio Corp.

     15,200        831,952  
     

 

 

 
      $ 12,403,317  
     

 

 

 

Semiconductors & Semiconductor Equipment — 3.3%

     

ASML Holding NV

     17,000      $ 3,191,827  

Intel Corp.(1)

     280,224        13,251,793  

Marvell Technology Group, Ltd.(1)

     84,177        1,624,616  

NXP Semiconductors NV(1)

     49,589        4,239,860  

Texas Instruments, Inc.(1)

     108,065        11,594,294  

Tokyo Electron, Ltd.

     42,200        5,816,022  

Versum Materials, Inc.

     16,211        583,758  
     

 

 

 
      $ 40,302,170  
     

 

 

 

Software — 5.1%

     

Citrix Systems, Inc.(1)(3)

     33,243      $ 3,695,292  

LogMeIn, Inc.

     5,861        522,215  

Microsoft Corp.(1)

     426,140        48,737,632  

Oracle Corp.(1)

     141,311        7,285,995  

Trend Micro, Inc.

     14,097        906,772  
     

 

 

 
      $ 61,147,906  
     

 

 

 

Specialty Retail — 2.5%

     

Fast Retailing Co., Ltd.

     26,300      $ 13,323,544  

Fnac Darty SA(3)

     922        72,705  

Home Depot, Inc. (The)(1)

     38,610        7,998,062  

Lowe’s Cos., Inc.(1)

     50,810        5,834,004  

Tiffany & Co.(1)

     19,173        2,472,742  

USS Co., Ltd.

     27,200        504,935  
     

 

 

 
      $ 30,205,992  
     

 

 

 

Technology Hardware, Storage & Peripherals — 5.3%

     

Apple, Inc.(1)

     265,420      $ 59,915,911  

Canon, Inc.

     19,100        605,652  

Hewlett Packard Enterprise Co.

     78,955        1,287,756  

HP, Inc.(1)

     54,791        1,411,964  
     

 

 

 
      $ 63,221,283  
     

 

 

 

Textiles, Apparel & Luxury Goods — 2.2%

     

adidas AG

     11,824      $ 2,891,671  

Asics Corp.

     20,000        298,275  

Hermes International

     1,733        1,148,154  

Kering SA(1)

     7,380        3,958,300  

LVMH Moet Hennessy Louis Vuitton SE(1)

     32,072        11,333,312  

NIKE, Inc., Class B(1)

     83,464        7,071,070  

Puma SE

     615        303,444  
     

 

 

 
      $ 27,004,226  
     

 

 

 

Tobacco — 1.8%

     

British American Tobacco PLC(1)

     211,393      $ 9,855,247  

Imperial Brands PLC(1)

     143,738        5,001,787  

 

9

 

 


                                                 
Security    Shares      Value  

Japan Tobacco, Inc.

     76,500      $ 1,997,668  

Philip Morris International, Inc.(1)

     64,219        5,236,417  
     

 

 

 
      $ 22,091,119  
     

 

 

 

Trading Companies & Distributors — 0.6%

     

Ferguson PLC

     45,384      $ 3,849,555  

Marubeni Corp.

     20,000        182,912  

Mitsubishi Corp.

     32,700        1,007,249  

Sumitomo Corp.

     96,700        1,611,528  
     

 

 

 
      $ 6,651,244  
     

 

 

 

Transportation Infrastructure — 0.1%

     

Aeroports de Paris

     6,667      $ 1,501,082  
     

 

 

 
      $ 1,501,082  
     

 

 

 

Wireless Telecommunication Services — 1.4%

     

KDDI Corp.

     151,600      $ 4,182,149  

SoftBank Group Corp.

     91,098        9,100,648  

Vodafone Group PLC

     1,847,125        3,957,691  
     

 

 

 
      $ 17,240,488  
     

 

 

 

Total Common Stocks — 100.6%
(identified cost $446,442,151)

      $ 1,211,012,396  
     

 

 

 

Total Written Call Options — (1.3)%
(premiums received $10,613,119)

      $ (15,365,126
     

 

 

 

Other Assets, Less Liabilities — 0.7%

      $ 8,707,728  
     

 

 

 

Net Assets — 100.0%

      $ 1,204,354,998  
     

 

 

 

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)

Amount is less than 0.05%.

 

(3)

Non-income producing security.

 

10

 

 


Country Concentration of Portfolio

 

                                                 
Country    Percentage of
Total Investments
    Value  

United States

     55.9   $ 677,003,096  

Japan

     11.1       134,922,060  

United Kingdom

     9.4       114,315,011  

France

     7.0       84,996,403  

Germany

     5.7       68,393,232  

Switzerland

     4.8       57,797,656  

Netherlands

     2.3       27,758,307  

Spain

     1.7       20,890,662  

Italy

     1.1       12,870,338  

Belgium

     0.3       4,168,170  

Sweden

     0.2       2,580,569  

Ireland

     0.2       2,039,153  

Denmark

     0.2       1,910,526  

Finland

     0.1       1,367,213  
  

 

 

   

 

 

 

Total Investments

     100.0   $     1,211,012,396  
  

 

 

   

 

 

 

Written Call Options — (1.3)%

Exchange-Traded Options — (1.3)%

 

                                                                                                                            
Description    Number of
Contracts
     Notional
Amount
    Exercise
Price
     Expiration
Date
     Value  

Dow Jones Euro Stoxx 50 Index

     1,490      EUR 50,648,080     EUR 3,325        10/5/18      $ (1,397,138

Dow Jones Euro Stoxx 50 Index

     1,490      EUR 50,648,080     EUR 3,375        10/12/18        (814,157

Dow Jones Euro Stoxx 50 Index

     1,465      EUR 49,798,280     EUR 3,450        10/19/18        (265,963

Dow Jones Euro Stoxx 50 Index

     1,445      EUR 49,118,440     EUR 3,425        10/26/18        (431,845

FTSE 100 Index

     550      GBP 41,306,100     GBP 7,500        10/19/18        (527,254

FTSE 100 Index

     550      GBP 41,306,100     GBP 7,525        10/19/18        (435,592

NASDAQ 100 Index

     85      USD 64,835,025     USD 7,625        10/5/18        (481,100

NASDAQ 100 Index

     85      USD 64,835,025     USD 7,600        10/12/18        (839,800

NASDAQ 100 Index

     85      USD 64,835,025     USD 7,625        10/19/18        (867,000

NASDAQ 100 Index

     40      USD 30,510,600     USD 7,700        10/24/18        (295,600

NASDAQ 100 Index

     40      USD 30,510,600     USD 7,700        10/26/18        (344,000

Nikkei 225 Index

     155      JPY     3,738,606,200     JPY 22,500        10/5/18        (2,212,916

Nikkei 225 Index

     155      JPY 3,738,606,200     JPY 22,875        10/12/18        (1,739,314

Nikkei 225 Index

     150      JPY 3,618,006,000     JPY 23,875        10/19/18        (631,530

Nikkei 225 Index

     150      JPY 3,618,006,000     JPY 24,000        10/26/18        (510,603

S&P 500 Index

     110      USD 32,053,780     USD 2,900        10/1/18        (188,650

S&P 500 Index

     110      USD 32,053,780     USD 2,900        10/3/18        (229,900

S&P 500 Index

     110      USD 32,053,780     USD 2,885        10/5/18        (399,300

S&P 500 Index

     110      USD 32,053,780     USD 2,885        10/8/18        (413,600

S&P 500 Index

     110      USD 32,053,780     USD 2,880        10/10/18        (478,500

S&P 500 Index

     110      USD 32,053,780     USD 2,915        10/12/18        (212,850

S&P 500 Index

     110      USD 32,053,780     USD 2,900        10/15/18        (339,350

S&P 500 Index

     110      USD 32,053,780     USD 2,920        10/17/18        (215,600

S&P 500 Index

     105      USD 30,596,790     USD 2,940        10/19/18        (122,850

S&P 500 Index

     110      USD 32,053,780     USD 2,925        10/22/18        (217,800

S&P 500 Index

     110      USD 32,053,780     USD 2,950        10/24/18        (110,000

S&P 500 Index

     110      USD 32,053,780     USD 2,925        10/26/18        (253,550

SMI Index

     530      CHF 48,166,347     CHF 9,100        10/19/18        (389,364
             

 

 

 

Total

 

   $ (15,365,126
             

 

 

 

 

11

 

 


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

At September 30, 2018, 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 price of the underlying index decline.

At September 30, 2018, the aggregate fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in a liability position and whose primary underlying risk exposure is equity price risk was $15,365,126.

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.

 

12

 

 


At September 30, 2018, 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

   $ 111,855,555      $ 38,317,356      $      $ 150,172,911  

Consumer Discretionary

     94,833,045        67,136,574               161,969,619  

Consumer Staples

     33,211,172        66,868,322               100,079,494  

Energy

     19,996,546        33,834,033               53,830,579  

Financials

     64,176,725        87,369,623               151,546,348  

Health Care

     85,374,721        71,037,552               156,412,273  

Industrials

     50,220,007        73,949,850               124,169,857  

Information Technology

     194,348,502        34,421,213               228,769,715  

Materials

     11,299,947        42,036,168               53,336,115  

Real Estate

     7,776,922        4,911,794               12,688,716  

Utilities

     8,149,814        9,886,955               18,036,769  

Total Common Stocks

   $     681,242,956      $     529,769,440    $     —      $     1,211,012,396  

Total Investments

   $ 681,242,956      $ 529,769,440      $      $ 1,211,012,396  
Liability Description                                

Written Call Options

   $ (6,009,450    $ (9,355,676    $      $ (15,365,126

Total

   $ (6,009,450    $ (9,355,676    $      $ (15,365,126

 

*

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.

 

13

 

 


Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

Item 3. Exhibits

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act is attached hereto.


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.

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

 

By:   /s/ Edward J. Perkin
  Edward J. Perkin
  President
Date:   November 26, 2018

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/ Edward J. Perkin
  Edward J. Perkin
  President
Date:   November 26, 2018

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   November 26, 2018