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, 2017

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Global Buy-Write Opportunities Fund

September 30, 2017

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.7%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 1.7%

 

Airbus SE

      56,122      $ 5,342,541  

General Dynamics Corp.

      6,866        1,411,512  

L3 Technologies, Inc.

      5,966        1,124,174  

Northrop Grumman Corp.

      13,028        3,748,416  

Raytheon Co.

      33,521        6,254,348  

Rolls-Royce Holdings PLC

      156,584        1,862,452  

Textron, Inc.

      30,061        1,619,687  
     

 

 

  
   $ 21,363,130  
     

 

 

  

Air Freight & Logistics — 0.3%

 

Deutsche Post AG

      61,060      $ 2,721,706  

Expeditors International of Washington, Inc.

      20,310        1,215,756  
     

 

 

  
   $ 3,937,462  
     

 

 

  

Airlines — 0.1%

 

Alaska Air Group, Inc.

      16,774      $ 1,279,353  

International Consolidated Airlines Group SA

      65,562        521,303  
     

 

 

  
   $ 1,800,656  
     

 

 

  

Auto Components — 0.8%

 

Aisin Seiki Co., Ltd.

      10,200      $ 537,772  

BorgWarner, Inc.

      11,315        579,667  

Compagnie Generale des Etablissements Michelin, Class B

      26,277        3,833,854  

Denso Corp.

      60,300        3,051,804  

Toyoda Gosei Co., Ltd.

      12,800        302,494  

Toyota Industries Corp.

      6,400        368,080  

Yokohama Rubber Co., Ltd. (The)

      75,500        1,557,044  
     

 

 

  
   $ 10,230,715  
     

 

 

  

Automobiles — 1.2%

 

Daimler AG(1)

      132,059      $ 10,541,614  

Honda Motor Co., Ltd.

      32,300        954,159  

Isuzu Motors, Ltd.

      99,500        1,319,257  

Mazda Motor Corp.

      49,000        750,676  

Toyota Motor Corp.

      17,100        1,019,646  

Volkswagen AG, PFC Shares

      1,805        294,675  
     

 

 

  
   $ 14,880,027  
     

 

 

  

Banks — 6.9%

 

Banco Bilbao Vizcaya Argentaria SA

      41,559      $ 371,554  

Banco Santander SA(1)

      1,466,812        10,260,125  

Bank of America Corp.

      50,000        1,267,000  

BNP Paribas SA

      100,600        8,115,981  

Citigroup, Inc.

      10,022        729,000  

Credit Agricole SA(1)

      243,088        4,425,201  

Danske Bank A/S

      72,886        2,920,802  

Fifth Third Bancorp

      112,006        3,133,928  

First Horizon National Corp.

      19,470        372,851  

 

1

 

 

                                                 
Security    Shares      Value  

Hiroshima Bank, Ltd. (The)

      43,500      $ 352,693  

HSBC Holdings PLC(1)

      802,083        7,929,254  

Huntington Bancshares, Inc.

      307,053        4,286,460  

ING Groep NV(1)

      426,434        7,860,182  

Intesa Sanpaolo SpA(1)

      2,091,453        7,404,388  

JPMorgan Chase & Co.

      47,825        4,567,766  

KBC Group NV

      22,722        1,927,732  

KeyCorp

      218,919        4,120,056  

Lloyds Banking Group PLC

      927,572        842,937  

PNC Financial Services Group, Inc. (The)

      6,406        863,337  

Shinsei Bank, Ltd.

      33,600        538,494  

Societe Generale SA

      130,261        7,633,477  

SunTrust Banks, Inc.

      19,446        1,162,287  

U.S. Bancorp

      20,850        1,117,351  

Wells Fargo & Co.

      51,808        2,857,211  
     

 

 

  
   $ 85,060,067  
     

 

 

  

Beverages — 1.7%

 

Anheuser-Busch InBev SA/NV

      3,893      $ 465,358  

Coca-Cola Co. (The)

      46,672        2,100,707  

Constellation Brands, Inc., Class A

      29,994        5,982,303  

Heineken Holding NV

      24,773        2,327,442  

Heineken NV

      7,692        761,142  

Kirin Holdings Co., Ltd.

      59,000        1,386,139  

PepsiCo, Inc.

      58,441        6,512,081  

Takara Holdings, Inc.

      84,000        766,629  
     

 

 

  
   $ 20,301,801  
     

 

 

  

Biotechnology — 3.7%

 

AbbVie, Inc.

      47,758      $ 4,243,776  

Amgen, Inc.

      71,478        13,327,073  

BioMarin Pharmaceutical, Inc.(2)

      19,589        1,823,148  

Celgene Corp.(2)

      92,074        13,426,231  

Gilead Sciences, Inc.

      143,508        11,627,018  

Shire PLC(1)

      22,601        1,151,153  
     

 

 

  
   $ 45,598,399  
     

 

 

  

Building Products — 0.5%

 

Daikin Industries, Ltd.(1)

      62,200      $ 6,299,147  
     

 

 

  
   $ 6,299,147  
     

 

 

  

Capital Markets — 1.6%

 

CME Group, Inc.

      4,775      $ 647,872  

GAM Holding AG

      43,549        675,096  

Moody’s Corp.

      18,539        2,580,814  

Morgan Stanley

      65,092        3,135,482  

S&P Global, Inc.

      27,142        4,242,566  

Schroders PLC

      62,659        2,818,821  

St. James’s Place PLC(1)

      209,534        3,220,492  

State Street Corp.

      21,373        2,041,976  
     

 

 

  
   $ 19,363,119  
     

 

 

  

Chemicals — 3.0%

 

AdvanSix, Inc.(2)

      1,261      $ 50,125  

Air Products and Chemicals, Inc.

      32,423        4,903,006  

Akzo Nobel NV

      10,908        1,006,038  

 

2

 

 

                                                 
Security    Shares      Value  

BASF SE(1)

      108,986      $ 11,610,957  

Daicel Corp.

      51,000        614,944  

DowDuPont, Inc.

      14,120        977,528  

Eastman Chemical Co.

      22,750        2,058,647  

Johnson Matthey PLC

      77,449        3,551,439  

Kaneka Corp.

      47,000        365,190  

Linde AG

      16,210        3,370,834  

Mitsubishi Gas Chemical Co., Inc.

      27,500        645,246  

Nitto Denko Corp.

      39,400        3,286,405  

Shin-Etsu Chemical Co., Ltd.

      22,800        2,040,598  

Sumitomo Chemical Co., Ltd.

      25,000        156,401  

Toray Industries, Inc.

      56,000        543,389  

Tosoh Corp.

      86,500        1,952,491  
     

 

 

  
   $ 37,133,238  
     

 

 

  

Commercial Services & Supplies — 0.4%

 

SECOM Co., Ltd.

      42,900      $ 3,124,171  

Waste Management, Inc.

      23,366        1,828,857  
     

 

 

  
   $ 4,953,028  
     

 

 

  

Communications Equipment — 1.1%

 

Cisco Systems, Inc.

      357,128      $ 12,010,215  

Nokia Oyj

      245,912        1,477,563  
     

 

 

  
   $ 13,487,778  
     

 

 

  

Construction & Engineering — 0.2%

 

Ferrovial SA

      81,605      $ 1,798,071  

Quanta Services, Inc.(2)

      10,281        384,201  
     

 

 

  
   $ 2,182,272  
     

 

 

  

Construction Materials — 0.2%

 

CRH PLC

      62,332      $ 2,371,344  

Imerys SA

      4,825        435,965  
     

 

 

  
   $ 2,807,309  
     

 

 

  

Consumer Finance — 0.4%

 

American Express Co.

      42,280      $ 3,824,649  

Navient Corp.

      50,603        760,057  
     

 

 

  
   $ 4,584,706  
     

 

 

  

Containers & Packaging — 0.2%

 

International Paper Co.

      16,999      $ 965,883  

Sealed Air Corp.

      27,433        1,171,938  

Toyo Seikan Kaisha, Ltd.

      15,800        264,034  
     

 

 

  
   $ 2,401,855  
     

 

 

  

Distributors — 0.2%

 

Genuine Parts Co.

      10,531      $ 1,007,290  

LKQ Corp.(2)

      53,930        1,940,941  
     

 

 

  
   $ 2,948,231  
     

 

 

  

Diversified Financial Services — 0.7%

 

Berkshire Hathaway, Inc., Class B(2)

      16,883      $ 3,094,992  

Groupe Bruxelles Lambert SA

      4,239        446,206  

Investor AB, Class B

      56,000        2,770,556  

ORIX Corp.

      41,300        666,756  

Standard Life Aberdeen PLC

      192,564        1,119,354  
     

 

 

  
   $ 8,097,864  
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Diversified Telecommunication Services — 1.4%

 

AT&T, Inc.

      99,124      $ 3,882,687  

BT Group PLC(1)

      454,642        1,729,228  

Deutsche Telekom AG(1)

      220,347        4,114,826  

Orange SA

      56,906        931,776  

Proximus SA

      25,589        882,152  

Verizon Communications, Inc.

      105,653        5,228,767  
     

 

 

  
   $ 16,769,436  
     

 

 

  

Electric Utilities — 0.9%

 

Acciona SA

      8,786      $ 707,345  

Edison International

      51,169        3,948,712  

Iberdrola SA(1)

      800,751        6,226,342  
     

 

 

  
   $ 10,882,399  
     

 

 

  

Electrical Equipment — 0.9%

 

ABB, Ltd.

      258,273      $ 6,386,569  

Fujikura, Ltd.

      69,000        554,543  

Legrand SA

      47,726        3,444,388  

Mabuchi Motor Co., Ltd.

      6,600        330,655  
     

 

 

  
   $ 10,716,155  
     

 

 

  

Electronic Equipment, Instruments & Components — 1.0%

 

Alps Electric Co., Ltd.(1)

      123,800      $ 3,271,874  

Corning, Inc.

      19,975        597,652  

Kyocera Corp.

      45,400        2,817,788  

OMRON Corp.

      16,500        841,374  

Taiyo Yuden Co., Ltd.

      124,900        1,849,675  

TDK Corp.

      40,200        2,731,715  
     

 

 

  
   $ 12,110,078  
     

 

 

  

Energy Equipment & Services — 0.2%

 

Halliburton Co.

      50,055      $ 2,304,032  
     

 

 

  
   $ 2,304,032  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 0.9%

 

American Tower Corp.

      17,793      $ 2,431,947  

AvalonBay Communities, Inc.

      5,904        1,053,392  

British Land Co. PLC (The)

      324,390        2,619,023  

Japan Real Estate Investment Corp.

      67        322,144  

Simon Property Group, Inc.

      26,522        4,270,307  
     

 

 

  
   $ 10,696,813  
     

 

 

  

Food & Staples Retailing — 0.8%

 

CVS Health Corp.

      71,786      $ 5,837,637  

FamilyMart UNY Holdings Co., Ltd.

      8,600        453,064  

Seven & i Holdings Co., Ltd.

      44,200        1,707,643  

Wal-Mart Stores, Inc.

      23,122        1,806,753  
     

 

 

  
   $ 9,805,097  
     

 

 

  

Food Products — 3.0%

 

Kraft Heinz Co. (The)

      26,742      $ 2,073,842  

Mondelez International, Inc., Class A

      224,275        9,119,021  

Nestle SA(1)

      291,170        24,441,172  

Nissin Foods Holdings Co., Ltd.

      11,700        710,897  

Toyo Suisan Kaisha, Ltd.

      5,000        183,693  

Yakult Honsha Co., Ltd.

      8,800        633,276  
     

 

 

  
   $ 37,161,901  
     

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Gas Utilities — 0.0%(3)

 

Italgas SpA

      35,014      $ 196,672  
     

 

 

  
   $ 196,672  
     

 

 

  

Health Care Equipment & Supplies — 1.0%

 

Abbott Laboratories

      113,910      $ 6,078,238  

Analogic Corp.

      10,189        853,329  

Dentsply Sirona, Inc.

      10,000        598,100  

Hologic, Inc.(2)

      17,554        644,056  

Intuitive Surgical, Inc.(2)

      1,000        1,045,880  

Medtronic PLC

      8,000        622,160  

Olympus Corp.

      6,900        233,814  

Terumo Corp.

      60,500        2,379,661  
     

 

 

  
   $ 12,455,238  
     

 

 

  

Health Care Providers & Services — 0.9%

 

DaVita, Inc.(2)

      12,963      $ 769,873  

Fresenius SE & Co. KGaA

      8,764        708,744  

McKesson Corp.

      16,774        2,576,654  

UnitedHealth Group, Inc.

      34,811        6,817,734  
     

 

 

  
   $ 10,873,005  
     

 

 

  

Hotels, Restaurants & Leisure — 0.8%

 

Accor SA

      26,214      $ 1,303,714  

McDonald’s Corp.

      17,186        2,692,702  

Six Flags Entertainment Corp.

      32,001        1,950,141  

Yum! Brands, Inc.

      58,297        4,291,242  
     

 

 

  
   $ 10,237,799  
     

 

 

  

Household Durables — 0.6%

 

Barratt Developments PLC(1)

      337,253      $ 2,778,349  

Casio Computer Co., Ltd.

      63,200        891,470  

PulteGroup, Inc.

      70,920        1,938,244  

Sekisui Chemical Co., Ltd.

      61,000        1,201,797  
     

 

 

  
   $ 6,809,860  
     

 

 

  

Household Products — 1.0%

 

Clorox Co. (The)

      18,837      $ 2,484,789  

Colgate-Palmolive Co.

      5,644        411,165  

Henkel AG & Co. KGaA, PFC Shares

      18,309        2,494,465  

Kimberly-Clark Corp.

      21,147        2,488,579  

Procter & Gamble Co. (The)

      11,603        1,055,641  

Reckitt Benckiser Group PLC

      20,566        1,879,074  

Unicharm Corp.

      37,200        852,080  
     

 

 

  
   $ 11,665,793  
     

 

 

  

Industrial Conglomerates — 2.2%

 

3M Co.

      27,304      $ 5,731,110  

Honeywell International, Inc.

      31,549        4,471,755  

Nisshinbo Holdings, Inc.

      109,000        1,290,157  

Siemens AG(1)

      113,166        15,968,780  
     

 

 

  
   $ 27,461,802  
     

 

 

  

Insurance — 4.4%

 

Ageas

      22,500      $ 1,058,258  

Allianz SE

      66,106        14,846,537  

Allstate Corp. (The)

      14,927        1,371,941  

 

5

 

 

                                                 
Security    Shares      Value  

Brighthouse Financial, Inc.(2)

      4,281      $ 260,285  

Chubb, Ltd.

      7,404        1,055,440  

Cincinnati Financial Corp.

      42,936        3,287,609  

Hartford Financial Services Group, Inc.

      48,969        2,714,352  

Lincoln National Corp.

      22,183        1,630,007  

Marsh & McLennan Cos., Inc.

      55,718        4,669,726  

MetLife, Inc.

      47,093        2,446,481  

MS&AD Insurance Group Holdings, Inc.

      37,200        1,198,821  

Principal Financial Group, Inc.

      36,247        2,332,132  

Prudential Financial, Inc.

      27,177        2,889,459  

Prudential PLC(1)

      349,752        8,369,738  

SCOR SE

      63,370        2,657,671  

Swiss Life Holding AG

      8,264        2,913,405  
     

 

 

  
   $ 53,701,862  
     

 

 

  

Internet & Direct Marketing Retail — 3.5%

 

Amazon.com, Inc.(2)

      32,972      $ 31,697,632  

Netflix, Inc.(2)

      21,000        3,808,350  

Priceline Group, Inc. (The)(2)

      3,947        7,226,247  
     

 

 

  
   $ 42,732,229  
     

 

 

  

Internet Software & Services — 5.9%

 

Alphabet, Inc., Class A(2)

      23,701      $ 23,078,138  

Alphabet, Inc., Class C(2)

      19,187        18,402,443  

Facebook, Inc., Class A(2)

      163,423        27,924,088  

LogMeIn, Inc.

      5,861        645,003  

United Internet AG

      32,975        2,055,426  
     

 

 

  
   $ 72,105,098  
     

 

 

  

IT Services — 2.8%

 

Amadeus IT Group SA

      24,489      $ 1,592,733  

Atos SE

      5,628        872,948  

Capgemini SE(1)

      34,597        4,055,618  

Cognizant Technology Solutions Corp., Class A

      79,444        5,762,868  

DXC Technology Co.

      6,782        582,438  

Fidelity National Information Services, Inc.

      51,873        4,844,419  

Indra Sistemas SA(2)

      58,122        919,079  

International Business Machines Corp.

      10,407        1,509,848  

Mastercard, Inc., Class A

      32,320        4,563,584  

Nomura Research Institute, Ltd.

      8,100        316,330  

NTT Data Corp.

      74,000        791,878  

Obic Co., Ltd.

      7,300        459,604  

Otsuka Corp.

      7,800        500,257  

PayPal Holdings, Inc.(2)

      52,937        3,389,556  

Worldpay Group PLC(4)

      662,238        3,614,576  
     

 

 

  
   $ 33,775,736  
     

 

 

  

Leisure Products — 0.2%

 

Hasbro, Inc.

      21,651      $ 2,114,653  
     

 

 

  
   $ 2,114,653  
     

 

 

  

Life Sciences Tools & Services — 0.3%

 

PerkinElmer, Inc.

      6,547      $ 451,546  

Thermo Fisher Scientific, Inc.

      17,359        3,284,323  
     

 

 

  
   $ 3,735,869  
     

 

 

  

 

6

 

 

                                                 
Security    Shares      Value  

Machinery — 1.6%

 

Dover Corp.

      7,424      $ 678,479  

Ebara Corp.

      45,600        1,514,960  

FANUC Corp.(1)

      43,827        8,886,079  

Kawasaki Heavy Industries, Ltd.

      3,100        102,787  

Komatsu, Ltd.

      34,000        962,778  

Makita Corp.

      13,400        540,834  

MAN SE

      7,139        805,881  

NSK, Ltd.

      6,000        81,006  

Parker-Hannifin Corp.

      7,147        1,250,868  

SMC Corp.

      1,900        671,386  

Snap-on, Inc.

      6,143        915,368  

Stanley Black & Decker, Inc.

      24,657        3,722,467  
     

 

 

  
   $ 20,132,893  
     

 

 

  

Media — 2.9%

 

Charter Communications, Inc.(2)

      10,343      $ 3,758,853  

Comcast Corp., Class A

      429,642        16,532,624  

Dentsu, Inc.

      14,500        636,958  

Hakuhodo DY Holdings, Inc.

      20,900        275,178  

Interpublic Group of Cos., Inc. (The)

      40,333        838,523  

Omnicom Group, Inc.

      9,804        726,182  

ProSiebenSat.1 Media SE

      27,382        934,408  

Sky PLC(1)

      447,757        5,493,021  

Time Warner, Inc.

      10,926        1,119,369  

Walt Disney Co. (The)

      58,917        5,807,449  
     

 

 

  
   $ 36,122,565  
     

 

 

  

Metals & Mining — 1.3%

 

Glencore PLC(1)

      1,472,251      $ 6,757,641  

Mitsubishi Materials Corp.

      8,000        277,097  

Nippon Light Metal Holdings Co., Ltd.

      200,000        569,639  

Nucor Corp.

      23,673        1,326,635  

Rio Tinto PLC(1)

      142,688        6,642,000  
     

 

 

  
   $ 15,573,012  
     

 

 

  

Multi-Utilities — 1.0%

 

CMS Energy Corp.

      126,690      $ 5,868,281  

Consolidated Edison, Inc.

      13,824        1,115,320  

Dominion Energy, Inc.

      27,793        2,138,115  

Engie SA

      62,752        1,065,618  

National Grid PLC

      57,770        715,513  

NiSource, Inc.

      42,420        1,085,528  

Veolia Environnement SA

      37,663        870,316  
     

 

 

  
   $ 12,858,691  
     

 

 

  

Multiline Retail — 0.6%

 

Isetan Mitsukoshi Holdings, Ltd.

      71,332      $ 745,404  

Marks & Spencer Group PLC

      398,770        1,888,047  

Next PLC

      41,584        2,931,357  

Nordstrom, Inc.

      12,439        586,499  

Target Corp.

      16,910        997,859  
     

 

 

  
   $ 7,149,166  
     

 

 

  

Oil, Gas & Consumable Fuels — 4.0%

 

Anadarko Petroleum Corp.

      9,143      $ 446,636  

BP PLC(1)

      1,013,220        6,490,679  

 

7

 

 

                                                 
Security    Shares      Value  

Chevron Corp.

      72,650      $ 8,536,375  

ConocoPhillips

      20,000        1,001,000  

ENI SpA(1)

      351,386        5,819,548  

EOG Resources, Inc.

      5,000        483,700  

Exxon Mobil Corp.

      40,461        3,316,993  

Idemitsu Kosan Co., Ltd.

      10,000        282,619  

Marathon Petroleum Corp.

      27,916        1,565,529  

Newfield Exploration Co.(2)

      11,510        341,502  

Phillips 66

      36,105        3,307,579  

Pioneer Natural Resources Co.

      4,000        590,160  

Royal Dutch Shell PLC, Class A(1)

      189,507        5,727,245  

Royal Dutch Shell PLC, Class B

      30,575        941,285  

Snam SpA

      175,073        843,685  

Total SA(1)

      166,408        8,935,183  
     

 

 

  
   $ 48,629,718  
     

 

 

  

Paper & Forest Products — 0.0%(3)

      

OJI Paper Co., Ltd.

      41,000      $ 221,383  
     

 

 

  
      $ 221,383  
     

 

 

  

Personal Products — 1.5%

      

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

      25,480      $ 2,747,763  

Kao Corp.(1)

      61,054        3,594,451  

Unilever NV(1)

      193,140        11,416,689  

Unilever PLC

      15,759        912,120  
     

 

 

  
      $ 18,671,023  
     

 

 

  

Pharmaceuticals — 7.5%

      

Allergan PLC

      11,024      $ 2,259,369  

Astellas Pharma, Inc.(1)

      269,300        3,427,525  

AstraZeneca PLC(1)

      97,424        6,478,833  

Bayer AG(1)

      31,622        4,319,670  

Chugai Pharmaceutical Co., Ltd.(1)

      99,100        4,118,213  

Eisai Co., Ltd.

      23,146        1,188,613  

Eli Lilly & Co.

      17,949        1,535,357  

Hisamitsu Pharmaceutical Co., Inc.

      3,300        158,588  

Indivior PLC(2)

      25,431        115,836  

Johnson & Johnson

      60,088        7,812,041  

Mallinckrodt PLC(2)

      6,475        241,971  

Merck & Co., Inc.

      103,665        6,637,670  

Mitsubishi Tanabe Pharma Corp.

      10,000        229,570  

Novartis AG(1)

      208,832        17,912,552  

Pfizer, Inc.

      104,651        3,736,041  

Roche Holding AG PC(1)

      71,291        18,223,415  

Sanofi(1)

      124,447        12,388,279  

Takeda Pharmaceutical Co., Ltd.

      14,631        809,034  

UCB SA

      9,177        654,028  
     

 

 

  
      $ 92,246,605  
     

 

 

  

Professional Services — 0.4%

      

Equifax, Inc.

      15,217      $ 1,612,850  

Experian PLC

      85,608        1,719,578  

Robert Half International, Inc.

      30,884        1,554,700  

Wolters Kluwer NV

      961        44,413  
     

 

 

  
      $ 4,931,541  
     

 

 

  

 

8

 

 

                                                 
Security    Shares      Value  

Real Estate Management & Development — 0.4%

      

Capital & Counties Properties PLC

      189,600      $ 672,970  

CBRE Group, Inc., Class A(2)

      41,385        1,567,664  

Daito Trust Construction Co., Ltd.

      6,300        1,147,750  

Heiwa Real Estate Co., Ltd.

      40,500        690,453  

Sumitomo Realty & Development Co., Ltd.

      23,000        695,871  
     

 

 

  
      $ 4,774,708  
     

 

 

  

Road & Rail — 0.8%

      

Central Japan Railway Co.

      5,500      $ 965,193  

CSX Corp.

      115,014        6,240,660  

East Japan Railway Co.

      6,400        590,773  

Kansas City Southern

      15,468        1,681,062  

Keio Corp.

      15,200        626,510  
     

 

 

  
      $ 10,104,198  
     

 

 

  

Semiconductors & Semiconductor Equipment — 3.6%

      

Intel Corp.

      280,224      $ 10,670,930  

Marvell Technology Group, Ltd.

      84,177        1,506,768  

Microchip Technology, Inc.(2)

      4,320        387,850  

NXP Semiconductors NV(2)

      54,841        6,201,969  

QUALCOMM, Inc.

      86,673        4,493,128  

Texas Instruments, Inc.

      134,483        12,055,056  

Tokyo Electron, Ltd.(1)

      54,600        8,405,616  

Versum Materials, Inc.

      16,211        629,311  
     

 

 

  
      $ 44,350,628  
     

 

 

  

Software — 4.7%

      

Citrix Systems, Inc.(2)

      34,110      $ 2,620,330  

Electronic Arts, Inc.(2)

      53,174        6,277,722  

Konami Holdings Corp.

      5,500        264,788  

Micro Focus International PLC ADR(2)

      10,842        345,860  

Microsoft Corp.

      539,189        40,164,189  

Oracle Corp.

      156,176        7,551,110  

Trend Micro, Inc.

      14,097        694,503  
     

 

 

  
      $ 57,918,502  
     

 

 

  

Specialty Retail — 1.9%

      

CarMax, Inc.(2)

      5,464      $ 414,226  

Fast Retailing Co., Ltd.(1)

      34,100        10,057,962  

Fnac Darty SA(2)

      922        88,804  

Home Depot, Inc. (The)

      42,734        6,989,573  

Lowe’s Cos., Inc.

      50,810        4,061,751  

Tiffany & Co.

      19,173        1,759,698  

USS Co., Ltd.

      27,200        548,977  
     

 

 

  
      $ 23,920,991  
     

 

 

  

Technology Hardware, Storage & Peripherals — 4.6%

      

Apple, Inc.

      345,806      $ 53,295,621  

Brother Industries, Ltd.

      18,000        419,684  

Canon, Inc.

      19,100        653,620  

Hewlett Packard Enterprise Co.

      78,955        1,161,428  

HP, Inc.

      58,955        1,176,742  
     

 

 

  
      $ 56,707,095  
     

 

 

  

 

9

 

 

                                                 
Security    Shares      Value  

Textiles, Apparel & Luxury Goods — 1.7%

      

adidas AG

      11,824      $ 2,677,744  

Asics Corp.

      20,000        298,292  

Hanesbrands, Inc.

      32,716        806,122  

Hermes International

      1,733        874,349  

Kering SA

      7,380        2,939,952  

LVMH Moet Hennessy Louis Vuitton SE

      32,072        8,865,895  

NIKE, Inc., Class B

      83,464        4,327,608  
     

 

 

  
      $ 20,789,962  
     

 

 

  

Tobacco — 2.4%

      

British American Tobacco PLC

      211,393      $ 13,233,985  

Imperial Brands PLC(1)

      143,738        6,134,849  

Japan Tobacco, Inc.

      76,500        2,506,977  

Philip Morris International, Inc.

      64,219        7,128,951  
     

 

 

  
      $ 29,004,762  
     

 

 

  

Trading Companies & Distributors — 0.5%

      

Ferguson PLC(1)

      47,906      $ 3,143,074  

Marubeni Corp.

      20,000        136,724  

Mitsubishi Corp.

      37,000        860,835  

Sumitomo Corp.

      96,700        1,392,228  
     

 

 

  
      $ 5,532,861  
     

 

 

  

Transportation Infrastructure — 0.1%

      

Aeroports de Paris

      6,667      $ 1,077,754  
     

 

 

  
      $ 1,077,754  
     

 

 

  

Wireless Telecommunication Services — 1.6%

      

KDDI Corp.(1)

      163,300      $ 4,304,581  

SoftBank Group Corp.(1)

      112,298        9,106,951  

T-Mobile US, Inc.(2)

      7,000        431,620  

Vodafone Group PLC(1)

      2,099,564        5,879,172  
     

 

 

  
      $ 19,722,324  
     

 

 

  

Total Common Stocks — 100.7%
(identified cost $500,754,976)

       $ 1,236,182,713  
     

 

 

  

Total Call Options Written — (1.2)%
(premiums received $8,675,998)

       $ (14,777,133 ) 
     

 

 

  

Other Assets, Less Liabilities — 0.5%

       $ 6,731,970  
     

 

 

  

Net Assets — 100.0%

       $ 1,228,137,550  
     

 

 

  

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 and/or segregated as collateral in connection with open foreign exchange-traded options.

 

(2) Non-income producing security.

 

(3) Amount is less than 0.05%.

 

(4) 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 September 30, 2017, the aggregate value of these securities is $3,614,576 or 0.3% of the Fund’s net assets.

 

10

 

 

Country Concentration of Portfolio

 

                                                 
Country    Percentage of
Total Investments		     Value  

United States

      54.5 %    $ 673,993,020  

Japan

      10.8       133,050,259  

United Kingdom

      9.7       119,708,955  

France

      6.5       80,159,284  

Germany

      6.3       77,466,267  

Switzerland

      5.7       70,552,209  

Netherlands

      2.4       29,617,875  

Spain

      1.8       22,396,552  

Italy

      1.2       14,264,293  

Belgium

      0.4       5,433,734  

Denmark

      0.2       2,920,802  

Sweden

      0.2       2,770,556  

Ireland

      0.2       2,371,344  

Finland

      0.1       1,477,563  
  

 

 

    

 

 

  

Total Investments

      100.0 %    $     1,236,182,713  
  

 

 

    

 

 

  

 

                                                                                                                            

Call Options Written — (1.2)%

 

Exchange-Traded Options — (1.2)%

 

 

Description    Number of
Contracts		      Notional
Amount		      Exercise
Price		      Expiration
Date		      Value  

Dow Jones Euro Stoxx 50 Index

      1,275      EUR 45,834,338      EUR 3,475        10/6/17      $ (1,692,897 ) 

Dow Jones Euro Stoxx 50 Index

      1,265      EUR 45,474,853      EUR 3,525        10/13/17        (1,035,824 ) 

Dow Jones Euro Stoxx 50 Index

      1,250      EUR 44,935,625      EUR 3,575        10/20/17        (513,457 ) 

Dow Jones Euro Stoxx 50 Index

      1,270      EUR 45,654,595      EUR 3,575        10/27/17        (690,605 ) 

FTSE 100 Index

      710      GBP 52,346,596      GBP 7,300        10/20/17        (921,670 ) 

FTSE 100 Index

      715      GBP 52,715,234      GBP 7,400        10/20/17        (370,317 ) 

NASDAQ 100 Index

      105      USD 62,782,629      USD 6,000        10/6/17        (243,075 ) 

NASDAQ 100 Index

      105      USD 62,782,629      USD 5,990        10/13/17        (479,850 ) 

NASDAQ 100 Index

      110      USD 65,772,278      USD 6,000        10/20/17        (598,950 ) 

NASDAQ 100 Index

      110      USD 65,772,278      USD 6,025        10/27/17        (623,700 ) 

Nikkei 225 Index

      170      JPY 3,460,567,600      JPY 19,375        10/6/17        (1,475,134 ) 

Nikkei 225 Index

      170      JPY 3,460,567,600      JPY 19,875        10/13/17        (782,537 ) 

Nikkei 225 Index

      170      JPY 3,460,567,600      JPY 20,375        10/20/17        (275,378 ) 

Nikkei 225 Index

      170      JPY 3,460,567,600      JPY 20,500        10/27/17        (297,397 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,480        10/2/17        (508,950 ) 

S&P 500 Index

      125      USD 31,492,000      USD 2,480        10/4/17        (493,125 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,485        10/6/17        (455,000 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,495        10/9/17        (345,150 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,505        10/11/17        (256,100 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,490        10/13/17        (438,750 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,510        10/16/17        (239,200 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,510        10/18/17        (256,750 ) 

S&P 500 Index

      125      USD 31,492,000      USD 2,505        10/20/17        (310,625 ) 

S&P 500 Index

      125      USD 31,492,000      USD 2,505        10/23/17        (321,250 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,510        10/25/17        (302,250 ) 

S&P 500 Index

      130      USD 32,751,680      USD 2,510        10/27/17        (320,450 ) 

SMI Index

      560      CHF 51,281,776      CHF 9,100        10/20/17        (528,742 ) 
              

 

 

  

Total

 

    $ (14,777,133 ) 
              

 

 

  

 

11

 

 

Abbreviations:

 

ADR

   -   American Depositary Receipt

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

All of the securities of the Fund, unless otherwise pledged and/or segregated, are subject to segregation to satisfy the requirements of the escrow agent with respect to U.S. exchange-traded options. At September 30, 2017, 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, 2017, 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 $14,777,133.

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, 2017, 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

 

Consumer Discretionary

    $ 107,973,445      $ 69,962,753      $ —      $ 177,936,198  

Consumer Staples

      49,749,232        76,861,145        —        126,610,377  

Energy

      21,893,506        29,040,244        —        50,933,750  

Financials

      67,463,087        103,344,531        —        170,807,618  

Health Care

      90,411,588        74,497,528        —        164,909,116  

Industrials

      46,725,623        73,767,276        —        120,492,899  

Information Technology

      251,848,266        38,606,649        —        290,454,915  

Materials

      11,453,762        46,683,035        —        58,136,797  

Real Estate

      9,323,310        6,148,211        —        15,471,521  

Telecommunication Services

      9,543,074        26,948,686        —        36,491,760  

Utilities

      14,155,956        9,781,806        —        23,937,762  

Total Common Stocks

    $     680,540,849      $ 555,641,864 *     $ —      $     1,236,182,713  

Total Investments

    $ 680,540,849      $     555,641,864      $     —      $ 1,236,182,713  
Liability Description                          

Call Options Written

    $ (6,193,175 )     $ (8,583,958 )     $ —      $ (14,777,133 ) 

Total

    $ (6,193,175 )     $ (8,583,958 )     $ —      $ (14,777,133 ) 

 

* 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.

The Fund held no investments or other financial instruments as of December 31, 2016 whose fair value was determined using Level 3 inputs. At September 30, 2017, the value of investments transferred between Level 1 and Level 2 during the fiscal year to date then ended was not significant.

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 27, 2017

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 27, 2017

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   November 27, 2017