N-Q 1 a08-6733_1nq.htm N-Q

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act File Number

 

811-21973

 

 

 

 

 

 

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

(Exact Name of Registrant as Specified in Charter)

 

 

 

The Eaton Vance Building,
255 State Street, Boston, Massachusetts

 

02109

(Address of Principal Executive Offices)

 

(Zip code)

 

 

 

Maureen A. Gemma

Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and Address of Agent for Service)

 

Registrant’s Telephone Number, Including Area Code:

 

(617) 482-8260

 

 

 

Date of Fiscal Year End:

 

October 31

 

 

 

Date of Reporting Period:

 

January 31, 2008

 

 


 

Item 1. Schedule of Investments

 


 

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

as of January 31, 2008

 

PORTFOLIO OF INVESTMENTS (Unaudited)

 

Common Stocks — 95.7%

 

Security

 

Shares

 

Value

 

Aerospace & Defense — 2.9%

 

 

 

 

 

BAE Systems PLC

 

3,561,479

 

$

33,168,418

 

Boeing Co. (The)

 

200,982

 

16,717,683

 

General Dynamics Corp.

 

310,576

 

26,231,249

 

Lockheed Martin Corp.

 

233,038

 

25,149,461

 

Raytheon Co.

 

271,576

 

17,690,461

 

United Technologies Corp.

 

458,365

 

33,648,575

 

 

 

 

 

$

152,605,847

 

Auto Components — 0.3%

 

 

 

 

 

Johnson Controls, Inc.

 

488,853

 

$

17,290,731

 

 

 

 

 

$

17,290,731

 

Automobiles — 0.9%

 

 

 

 

 

DaimlerChrysler AG

 

606,607

 

$

47,241,643

 

 

 

 

 

$

47,241,643

 

Beverages — 1.5%

 

 

 

 

 

Coca-Cola Co. (The)

 

288,214

 

$

17,053,622

 

PepsiCo, Inc.

 

406,068

 

27,689,777

 

Scottish & Newcastle PLC

 

2,327,438

 

36,384,981

 

 

 

 

 

$

81,128,380

 

Biotechnology — 1.3%

 

 

 

 

 

Biogen Idec, Inc. (1)

 

146,563

 

$

8,933,015

 

Genzyme Corp. (1)

 

426,015

 

33,284,552

 

Gilead Sciences, Inc. (1)

 

610,020

 

27,871,814

 

 

 

 

 

$

70,089,381

 

Capital Markets — 0.4%

 

 

 

 

 

Goldman Sachs Group, Inc.

 

94,645

 

$

19,001,877

 

 

 

 

 

$

19,001,877

 

Chemicals — 2.4%

 

 

 

 

 

BASF AG

 

345,635

 

$

44,831,126

 

Bayer AG

 

392,750

 

32,092,629

 

Ecolab, Inc.

 

309,709

 

14,943,459

 

E.I. Du Pont de Nemours & Co.

 

467,261

 

21,110,852

 

Monsanto Co.

 

130,048

 

14,622,597

 

 

 

 

 

$

127,600,663

 

Commercial Banks — 4.5%

 

 

 

 

 

Banco Santander Central Hispano SA

 

3,179,583

 

$

55,691,980

 

BNP Paribas SA

 

547,051

 

54,041,676

 

HSBC Holdings PLC

 

5,784,124

 

86,758,265

 

Lloyds TSB Group PLC

 

5,025,101

 

43,873,856

 

 

 

 

 

$

240,365,777

 

Commercial Services & Supplies — 0.5%

 

 

 

 

 

Pitney Bowes, Inc.

 

717,158

 

$

26,319,699

 

 

 

 

 

$

26,319,699

 

Communications Equipment — 3.6%

 

 

 

 

 

Cisco Systems, Inc. (1)

 

1,757,625

 

$

43,061,812

 

Corning, Inc.

 

493,323

 

11,874,285

 

Nokia Oyj ADR

 

2,844,944

 

105,120,681

 

QUALCOMM, Inc.

 

394,411

 

16,730,915

 

Research In Motion, Ltd. (1)

 

175,933

 

16,516,590

 

 

 

 

 

$

193,304,283

 

 

1


 

Computer Peripherals — 1.9%

 

 

 

 

 

Apple, Inc. (1)

 

219,746

 

$

29,744,819

 

EMC Corp. (1)

 

823,099

 

13,062,581

 

Hewlett-Packard Co.

 

658,351

 

28,802,856

 

International Business Machines Corp.

 

264,794

 

28,422,988

 

 

 

 

 

$

100,033,244

 

Diversified Consumer Services — 0.3%

 

 

 

 

 

Apollo Group, Inc., Class A (1)

 

213,574

 

$

17,030,391

 

 

 

 

 

$

17,030,391

 

Diversified Financial Services — 2.3%

 

 

 

 

 

Bank of America Corp.

 

1,013,187

 

$

44,934,843

 

ING Groep NV

 

1,645,729

 

53,401,044

 

JPMorgan Chase & Co.

 

558,562

 

26,559,623

 

 

 

 

 

$

124,895,510

 

Diversified Telecommunication Services — 5.0%

 

 

 

 

 

AT&T, Inc.

 

974,914

 

$

37,524,440

 

France Telecom SA

 

1,008,438

 

35,419,537

 

Koninklijke KPN NV

 

3,546,961

 

64,110,009

 

Qwest Communications International, Inc.

 

4,707,701

 

27,681,282

 

Telefonica 02 Czech Republic AS

 

2,842,846

 

82,071,143

 

Verizon Communications, Inc.

 

530,357

 

20,599,066

 

 

 

 

 

$

267,405,477

 

Electric Utilities — 4.2%

 

 

 

 

 

Duke Energy Corp.

 

908,315

 

$

16,949,158

 

E. ON AG

 

395,239

 

72,487,334

 

Edison International

 

429,391

 

22,397,035

 

Iberdrola S.A.

 

2,957,579

 

44,892,089

 

Scottish and Southern Energy PLC

 

2,179,516

 

66,394,121

 

 

 

 

 

$

223,119,737

 

Electrical Equipment — 1.6%

 

 

 

 

 

ABB, Ltd.

 

2,276,507

 

$

56,739,194

 

Emerson Electric Co.

 

522,854

 

26,581,897

 

 

 

 

 

$

83,321,091

 

Energy Equipment & Services — 2.8%

 

 

 

 

 

Diamond Offshore Drilling, Inc.

 

181,247

 

$

20,468,224

 

Schlumberger, Ltd.

 

1,328,510

 

100,249,365

 

Transocean, Inc. (1)

 

237,432

 

29,109,163

 

 

 

 

 

$

149,826,752

 

Food & Staples Retailing — 1.7%

 

 

 

 

 

CVS Caremark Corp.

 

429,490

 

$

16,780,174

 

Kroger Co. (The)

 

635,301

 

16,168,410

 

Safeway, Inc.

 

491,960

 

15,245,840

 

Sysco Corp.

 

321,929

 

9,352,037

 

Wal-Mart Stores, Inc.

 

619,096

 

31,499,604

 

 

 

 

 

$

89,046,065

 

Food Products — 3.6%

 

 

 

 

 

Nestle SA

 

242,671

 

$

108,261,964

 

Unilever NV

 

2,517,853

 

81,770,327

 

 

 

 

 

$

190,032,291

 

Health Care Equipment & Supplies — 1.0%

 

 

 

 

 

Baxter International, Inc.

 

138,550

 

$

8,415,527

 

Covidien, Ltd.

 

499,305

 

22,283,982

 

Medtronic, Inc.

 

262,655

 

12,231,843

 

Zimmer Holdings, Inc. (1)

 

129,409

 

10,128,842

 

 

 

 

 

$

53,060,194

 

 

2


 

Health Care Providers & Services — 0.4%

 

 

 

 

 

Aetna, Inc.

 

171,785

 

$

9,149,269

 

UnitedHealth Group, Inc.

 

219,107

 

11,139,400

 

 

 

 

 

$

20,288,669

 

Hotels, Restaurants & Leisure — 1.8%

 

 

 

 

 

Compass Group PLC

 

9,160,504

 

$

58,073,192

 

International Game Technology

 

240,494

 

10,261,879

 

Marriott International, Inc., Class A

 

350,878

 

12,617,573

 

McDonald’s Corp.

 

327,767

 

17,551,923

 

 

 

 

 

$

98,504,567

 

Household Products — 0.4%

 

 

 

 

 

Colgate-Palmolive Co.

 

162,305

 

$

12,497,485

 

Kimberly-Clark Corp.

 

156,721

 

10,288,734

 

 

 

 

 

$

22,786,219

 

Industrial Conglomerates — 2.6%

 

 

 

 

 

General Electric Co.

 

1,571,422

 

$

55,644,053

 

Siemens AG

 

631,053

 

81,009,642

 

 

 

 

 

$

136,653,695

 

Insurance — 6.5%

 

 

 

 

 

Allianz SE

 

208,234

 

$

36,961,812

 

American International Group, Inc.

 

462,736

 

25,524,518

 

AMP Ltd.

 

2,555,240

 

19,491,949

 

Aviva PLC

 

3,084,785

 

38,689,342

 

Berkshire Hathaway, Inc., Class A (1)

 

919

 

124,984,000

 

Friends Provident PLC

 

6,199,983

 

17,243,418

 

Legal & General Group PLC

 

16,227,544

 

42,948,569

 

Resolution PLC

 

1,774,995

 

25,288,947

 

Travelers Cos., Inc. (The)

 

329,610

 

15,854,241

 

 

 

 

 

$

346,986,796

 

Internet Software & Services — 0.8%

 

 

 

 

 

Google, Inc., Class A (1)

 

77,039

 

$

43,473,108

 

 

 

 

 

$

43,473,108

 

IT Services — 0.3%

 

 

 

 

 

Mastercard, Inc., Class A

 

90,505

 

$

18,734,535

 

 

 

 

 

$

18,734,535

 

Life Sciences Tools & Services — 0.2%

 

 

 

 

 

Thermo Fisher Scientific, Inc. (1)

 

234,437

 

$

12,071,161

 

 

 

 

 

$

12,071,161

 

Machinery — 0.8%

 

 

 

 

 

Danaher Corp.

 

277,525

 

$

20,661,736

 

Deere & Co.

 

110,200

 

9,671,152

 

Illinois Tool Works, Inc.

 

197,945

 

9,976,428

 

 

 

 

 

$

40,309,316

 

Media — 0.9%

 

 

 

 

 

Reed Elsevier PLC

 

445,155

 

$

5,375,422

 

Vivendi SA

 

607,613

 

24,383,656

 

Walt Disney Co.

 

569,362

 

17,041,005

 

 

 

 

 

$

46,800,083

 

Metals & Mining — 6.7%

 

 

 

 

 

Anglo American PLC

 

1,110,234

 

$

61,330,007

 

Arcelor Mittal

 

678,907

 

44,869,222

 

Companhia Vale do Rio Doce ADR

 

594,571

 

17,825,239

 

Goldcorp, Inc.

 

730,530

 

27,190,327

 

Rio Tinto PLC

 

939,161

 

94,004,714

 

Southern Copper Corp.

 

430,587

 

40,406,284

 

ThyssenKrupp AG

 

1,495,742

 

72,826,844

 

 

 

 

 

$

358,452,637

 

 

3


 

Multi-Utilities — 2.8%

 

 

 

 

 

Public Service Enterprise Group, Inc.

 

265,103

 

$

25,449,888

 

RWE AG

 

316,181

 

38,653,897

 

Suez SA

 

1,362,390

 

83,109,228

 

 

 

 

 

$

147,213,013

 

Oil, Gas & Consumable Fuels — 11.0%

 

 

 

 

 

Anadarko Petroleum Corp.

 

598,109

 

$

35,043,206

 

BP PLC

 

7,848,055

 

83,621,510

 

ConocoPhillips

 

387,426

 

31,118,056

 

ENI SPA

 

3,246,356

 

104,532,081

 

Exxon Mobil Corp.

 

826,006

 

71,366,918

 

Hess Corp.

 

400,987

 

36,421,649

 

Occidental Petroleum Corp.

 

364,735

 

24,754,564

 

Royal Dutch Shell PLC

 

2,341,793

 

81,357,077

 

Total SA

 

1,439,332

 

104,322,512

 

Williams Cos., Inc.

 

468,970

 

14,992,971

 

 

 

 

 

$

587,530,544

 

Pharmaceuticals — 9.2%

 

 

 

 

 

Abbott Laboratories

 

902,589

 

$

50,815,761

 

Allergan, Inc.

 

154,214

 

10,361,639

 

Eli Lilly & Co.

 

503,223

 

25,926,049

 

GlaxoSmithKline PLC

 

3,602,906

 

85,367,032

 

Johnson & Johnson

 

513,786

 

32,502,102

 

Merck & Co., Inc.

 

615,871

 

28,502,510

 

Novartis AG

 

1,163,748

 

58,752,754

 

Pfizer, Inc.

 

3,361,225

 

78,619,053

 

Roche Holding AG

 

334,892

 

60,593,695

 

Sanofi-Synthelabo SA

 

576,388

 

46,810,435

 

Wyeth

 

250,083

 

9,953,303

 

 

 

 

 

$

488,204,333

 

Semiconductors & Semiconductor Equipment — 0.5%

 

 

 

 

 

Intel Corp.

 

632,392

 

$

13,406,710

 

Texas Instruments, Inc.

 

358,661

 

11,093,385

 

 

 

 

 

$

24,500,095

 

Software — 2.3%

 

 

 

 

 

Microsoft Corp.

 

1,725,066

 

$

56,237,152

 

Oracle Corp. (1)

 

1,059,103

 

21,764,567

 

Sage Group PLC

 

9,767,211

 

43,079,578

 

 

 

 

 

$

121,081,297

 

Specialty Retail — 0.6%

 

 

 

 

 

Best Buy Co., Inc.

 

236,702

 

$

11,553,425

 

Staples, Inc.

 

787,315

 

18,848,321

 

 

 

 

 

$

30,401,746

 

Tobacco — 3.1%

 

 

 

 

 

Altria Group, Inc.

 

520,428

 

$

39,458,851

 

British American Tobacco PLC

 

2,449,860

 

87,736,191

 

Imperial Tobacco Group PLC

 

830,904

 

40,632,513

 

 

 

 

 

$

167,827,555

 

Wireless Telecommunication Services — 2.1%

 

 

 

 

 

Rogers Communications, Inc., Class B

 

252,457

 

$

9,671,628

 

Vodafone Group PLC

 

29,985,039

 

104,866,603

 

 

 

 

 

$

114,538,231

 

Total Common Stocks
(identified cost $5,081,163,039)

 

 

 

$

5,099,076,633

 

 

Short-Term Investments — 3.7%

 

Description

 

Interest
(000’s omitted)

 

Value

 

Investment in Cash Management Portfolio, 4.32% (2)

 

$

195,584

 

$

195,584,310

 

Total Short-Term Investments
(identified cost $195,584,310)

 

 

 

$

195,584,310

 

Total Investments — 99.4%
(identified cost $5,276,747,349)

 

 

 

$

5,294,660,943

 

 

4


 

Covered Call Options Written — (0.5)%

 

 

 

Number of

 

Strike

 

Expiration

 

 

 

Description

 

Contracts

 

Price

 

Date

 

Value

 

EURO STOXX 50 Index

 

63,412

 

$

4,250

 

2/15/08

 

$

(75,111

)

FTSE 100 Index

 

18,733

 

6,150

 

2/15/08

 

(465,515

)

S&P 500 Index

 

1,632

 

1,390

 

2/16/08

 

(3,655,680

)

S&P 500 Index

 

3,074

 

1,395

 

2/16/08

 

(6,670,580

)

S&P 500 Index

 

2,628

 

1,410

 

2/16/08

 

(2,838,240

)

S&P 500 Index

 

2,672

 

1,375

 

2/16/08

 

(7,481,600

)

SMI Index

 

10,562

 

7,950

 

2/15/08

 

(554,152

)

TOP1 Index

 

23,523

 

296

 

2/12/08

 

(464,579

)

Total Covered Call Options Written
(premiums received $64,736,516)

 

 

 

 

 

 

 

$

(22,205,457

)

Other Assets, Less Liabilities — 1.1%

 

 

 

 

 

 

 

$

56,391,832

 

Net Assets — 100.0%

 

 

 

 

 

 

 

$

5,328,847,318

 

 

ADR

—

American Depository Receipt

 

 

 

(1)

 

Non-income producing security.

 

 

 

(2)

 

Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of January 31, 2008. Net income allocated from the Investment in Cash Management Portfolio for the fiscal year to date ended January 31, 2008 was $4,130,907.

 

Country Concentration of Portfolio

 

 

 

 

 

Percentage

 

 

 

Country

 

of Net Assets

 

Value

 

United States

 

43.7

%

$

2,321,380,155

 

United Kingdom

 

21.4

 

1,136,193,755

 

Germany

 

8.0

 

426,104,927

 

France

 

6.5

 

348,087,044

 

Switzerland

 

5.3

 

284,347,607

 

Netherlands

 

3.7

 

199,281,380

 

Finland

 

2.0

 

105,120,681

 

Italy

 

2.0

 

104,532,082

 

Spain

 

1.9

 

100,584,069

 

Czech Republic

 

1.5

 

82,071,143

 

Canada

 

1.0

 

53,378,545

 

Luxembourg

 

0.8

 

44,869,222

 

Cayman Islands

 

0.5

 

29,109,163

 

Bermuda

 

0.4

 

22,283,982

 

Australia

 

0.4

 

19,491,949

 

Brazil

 

0.3

 

17,825,239

 

 

 

99.4

%

$

5,294,660,943

 

 

The cost and unrealized appreciation (depreciation) of investments of the Fund at January 31, 2008, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

 

$

5,264,911,584

 

Gross unrealized appreciation

 

$

216,864,210

 

Gross unrealized depreciation

 

(187,114,851

)

Net unrealized appreciation

 

$

29,749,359

 

 

5


 

Written call option activity for the fiscal year to date ended January 31, 2008 was as follows:

 

 

 

Number of 
Contracts

 

Premiums Received

 

Outstanding, beginning of period

 

124,825

 

$

50,409,979

 

Options written

 

376,893

 

159,962,656

 

Options terminated in closing purchase transactions

 

(309,348

)

(114,563,011

)

Options expired

 

(66,134

)

(31,073,108

)

Outstanding, end of period

 

126,236

 

$

64,736,516

 

 

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent.  At January 31, 2008 the Fund had sufficient cash and/or securities to cover commitments under these contracts.

 

6


 

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.

 


 

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 Diversified Equity Income Fund

 

By:

 

/s/ Duncan W. Richardson

 

 

Duncan W. Richardson

 

 

President

 

 

 

Date:

 

March 12, 2008

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:

 

/s/ Duncan W. Richardson

 

 

Duncan W. Richardson

 

 

President

 

 

 

Date:

 

March 12, 2008

 

 

 

By:

 

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

 

Treasurer

 

 

 

Date:

 

March 12, 2008