NPORT-EX 2 NPORT_6441425117171313.htm html

Eaton Vance

Enhanced Equity Income Fund II

March 31, 2020

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 99.3%(1)

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 1.1%

 

Boeing Co. (The)

      22,237      $ 3,316,426  

Raytheon Co.

      33,862        4,441,001  
     

 

 

  
   $ 7,757,427  
     

 

 

  

Auto Components — 1.6%

 

Aptiv PLC

      225,294      $ 11,093,477  
     

 

 

  
   $ 11,093,477  
     

 

 

  

Banks — 2.2%

 

Bank of America Corp.

      398,984      $ 8,470,430  

JPMorgan Chase & Co.

      80,853        7,279,196  
     

 

 

  
   $ 15,749,626  
     

 

 

  

Beverages — 1.1%

 

Coca-Cola Co. (The)

      72,818      $ 3,222,196  

PepsiCo, Inc.

      40,858        4,907,046  
     

 

 

  
   $ 8,129,242  
     

 

 

  

Biotechnology — 5.4%

 

Amgen, Inc.

      49,947      $ 10,125,755  

Argenx SE ADR(2)

      36,075        4,752,160  

Blueprint Medicines Corp.(2)

      83,060        4,857,349  

Deciphera Pharmaceuticals, Inc.(2)

      49,023        2,018,277  

Exact Sciences Corp.(2)

      51,310        2,975,980  

Incyte Corp.(2)

      88,068        6,449,220  

Vertex Pharmaceuticals, Inc.(2)

      31,029        7,383,350  
     

 

 

  
   $ 38,562,091  
     

 

 

  

Building Products — 0.7%

 

Fortune Brands Home & Security, Inc.

      112,113      $ 4,848,887  
     

 

 

  
   $ 4,848,887  
     

 

 

  

Capital Markets — 1.2%

 

Charles Schwab Corp. (The)

      244,964      $ 8,235,690  
     

 

 

  
   $ 8,235,690  
     

 

 

  

Commercial Services & Supplies — 1.4%

 

Waste Connections, Inc.

      64,672      $ 5,012,080  

Waste Management, Inc.

      51,956        4,809,047  
     

 

 

  
   $ 9,821,127  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Containers & Packaging — 0.6%

 

Avery Dennison Corp.

      42,111      $ 4,289,848  
     

 

 

  
   $ 4,289,848  
     

 

 

  

Electrical Equipment — 1.2%

 

AMETEK, Inc.

      116,228      $ 8,370,741  
     

 

 

  
   $ 8,370,741  
     

 

 

  

Electronic Equipment, Instruments & Components — 1.6%

 

Zebra Technologies Corp., Class A(2)

      61,539      $ 11,298,560  
     

 

 

  
   $ 11,298,560  
     

 

 

  

Entertainment — 3.2%

 

Netflix, Inc.(2)

      24,636      $ 9,250,818  

Walt Disney Co. (The)

      139,509        13,476,569  
     

 

 

  
   $ 22,727,387  
     

 

 

  

Food Products — 1.2%

 

Mondelez International, Inc., Class A

      172,656      $ 8,646,613  
     

 

 

  
   $ 8,646,613  
     

 

 

  

Health Care Equipment & Supplies — 4.5%

 

Abbott Laboratories

      75,401      $ 5,949,893  

Boston Scientific Corp.(2)

      121,075        3,950,677  

Haemonetics Corp.(2)

      77,381        7,711,791  

Intuitive Surgical, Inc.(2)

      29,602        14,659,206  
     

 

 

  
   $ 32,271,567  
     

 

 

  

Health Care Providers & Services — 3.5%

 

Anthem, Inc.

      27,823      $ 6,316,934  

Centene Corp.(2)

      100,970        5,998,628  

UnitedHealth Group, Inc.

      49,746        12,405,657  
     

 

 

  
   $ 24,721,219  
     

 

 

  

Hotels, Restaurants & Leisure — 1.5%

 

Starbucks Corp.

      161,872      $ 10,641,465  
     

 

 

  
   $ 10,641,465  
     

 

 

  

Interactive Media & Services — 11.0%

 

Alphabet, Inc., Class C(2)

      43,547      $ 50,636,887  

Facebook, Inc., Class A(2)

      137,763        22,978,868  

Twitter, Inc.(2)

      173,450        4,259,932  
     

 

 

  
   $ 77,875,687  
     

 

 

  

Internet & Direct Marketing Retail — 9.1%

 

Amazon.com, Inc.(2)

      33,241      $ 64,810,643  
     

 

 

  
   $ 64,810,643  
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

IT Services — 9.3%

 

GoDaddy, Inc., Class A(2)

      108,205      $ 6,179,587  

PayPal Holdings, Inc.(2)

      217,377        20,811,674  

Visa, Inc., Class A

      240,797        38,797,213  
     

 

 

  
   $ 65,788,474  
     

 

 

  

Life Sciences Tools & Services — 1.3%

 

10X Genomics, Inc., Class A(2)

      72,388      $ 4,511,220  

Illumina, Inc.(2)

      18,648        5,093,142  
     

 

 

  
   $ 9,604,362  
     

 

 

  

Machinery — 1.1%

 

Woodward, Inc.

      130,825      $ 7,776,238  
     

 

 

  
   $ 7,776,238  
     

 

 

  

Pharmaceuticals — 3.0%

 

AstraZeneca PLC ADR

      185,413      $ 8,280,545  

Bristol-Myers Squibb Co.

      159,833        8,909,091  

Eli Lilly & Co.

      27,538        3,820,071  
     

 

 

  
   $ 21,009,707  
     

 

 

  

Road & Rail — 1.5%

 

CSX Corp.

      46,553      $ 2,667,487  

Uber Technologies, Inc.(2)

      177,964        4,968,755  

Union Pacific Corp.

      19,608        2,765,512  
     

 

 

  
   $ 10,401,754  
     

 

 

  

Semiconductors & Semiconductor Equipment — 5.0%

 

Micron Technology, Inc.(2)

      235,349      $ 9,898,779  

QUALCOMM, Inc.

      232,773        15,747,094  

Texas Instruments, Inc.

      95,509        9,544,214  
     

 

 

  
   $ 35,190,087  
     

 

 

  

Software — 18.0%

 

Adobe, Inc.(2)

      83,269      $ 26,499,527  

Intuit, Inc.

      61,263        14,090,490  

Microsoft Corp.

      285,106        44,964,067  

SailPoint Technologies Holding, Inc.(2)

      338,836        5,157,084  

salesforce.com, inc.(2)

      174,381        25,107,376  

Zscaler, Inc.(2)

      193,060        11,749,632  
     

 

 

  
   $ 127,568,176  
     

 

 

  

Specialty Retail — 2.5%

 

Lowe’s Cos., Inc.

      136,396      $ 11,736,876  

TJX Cos., Inc. (The)

      126,543        6,050,021  
     

 

 

  
   $ 17,786,897  
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Technology Hardware, Storage & Peripherals — 4.0%

 

Apple, Inc.

      112,366      $ 28,573,550  
     

 

 

  
   $ 28,573,550  
     

 

 

  

Textiles, Apparel & Luxury Goods — 1.5%

 

NIKE, Inc., Class B

      130,708      $ 10,814,780  
     

 

 

  
   $ 10,814,780  
     

 

 

  

Total Common Stocks
(identified cost $507,663,599)

 

    $ 704,365,322  
     

 

 

  

Short-Term Investments — 1.1%

 

Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.69%(3)

      7,937,634      $ 7,934,459  
     

 

 

  

Total Short-Term Investments
(identified cost $7,933,334)

 

    $ 7,934,459  
     

 

 

  

Total Investments — 100.4%
(identified cost $515,596,933)

 

    $ 712,299,781  
     

 

 

  

Total Written Covered Call Options — (0.9)%
(premiums received $6,763,866)

 

    $ (6,081,813 ) 
     

 

 

  

Other Assets, Less Liabilities — 0.5%

 

    $ 3,472,992  
     

 

 

  

Net Assets — 100.0%

 

    $ 709,690,960  
     

 

 

  

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

 

(1)

All or a portion of each applicable common stock for which a written call option is outstanding at March 31, 2020 has been pledged as collateral for such written option.

 

(2)

Non-income producing security.

 

(3)

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 March 31, 2020.

 

4

 

 

Written Covered Call Options — (0.9)%

Exchange-Traded Options — (0.9)%

 

                                                                                                                            
Description    Number of
Contracts		      Notional
Amount		      Exercise
Price		      Expiration
Date		      Value  

Abbott Laboratories

      375      $ 2,959,125      $ 83        5/15/20      $ (136,875 ) 

Adobe, Inc.

      415        13,206,960        350        4/24/20        (170,358 ) 

Alphabet, Inc., Class C

      240        27,907,440        1,480        4/17/20        (18,000 ) 

Amazon.com, Inc.

      175        34,120,100        2,050        4/24/20        (768,250 ) 

AMETEK, Inc.

      580        4,177,160        85        5/15/20        (89,900 ) 

Amgen, Inc.

      245        4,966,885        235        4/17/20        (51,450 ) 

Anthem, Inc.

      135        3,065,040        250        5/15/20        (133,313 ) 

Apple, Inc.

      560        14,240,240        280        4/24/20        (168,000 ) 

Aptiv PLC

      1,125        5,539,500        65        5/15/20        (115,313 ) 

Argenx SE ADR

      180        2,371,140        160        5/15/20        (63,900 ) 

AstraZeneca PLC ADR

      925        4,131,050        50        4/17/20        (4,625 ) 

Avery Dennison Corp.

      210        2,139,270        125        4/17/20        (53,025 ) 

Bank of America Corp.

      1,990        4,224,770        36        4/17/20        (2,985 ) 

Boeing Co. (The)

      110        1,640,540        190        4/24/20        (38,500 ) 

Boston Scientific Corp.

      605        1,974,115        35        5/15/20        (53,240 ) 

Bristol-Myers Squibb Co.

      795        4,431,330        70        4/17/20        (1,192 ) 

Centene Corp.

      500        2,970,500        65        4/17/20        (62,500 ) 

Charles Schwab Corp. (The)

      855        2,874,510        40        4/17/20        (53,438 ) 

Coca-Cola Co. (The)

      360        1,593,000        50        5/15/20        (21,960 ) 

CSX Corp.

      230        1,317,900        63        5/15/20        (46,920 ) 

Eli Lilly & Co.

      135        1,872,720        140        5/15/20        (92,813 ) 

Exact Sciences Corp.

      255        1,479,000        70        4/24/20        (31,237 ) 

Facebook, Inc., Class A

      685        11,425,800        190        5/15/20        (182,210 ) 

GoDaddy, Inc., Class A

      540        3,083,940        85        5/15/20        (6,750 ) 

Haemonetics Corp.

      385        3,836,910        110        5/15/20        (204,050 ) 

Illumina, Inc.

      90        2,458,080        270        4/24/20        (153,450 ) 

Incyte Corp.

      440        3,222,120        80        5/15/20        (67,100 ) 

Intuit, Inc.

      305        7,015,000        290        4/17/20        (35,838 ) 

Intuitive Surgical, Inc.

      120        5,942,520        600        4/17/20        (14,700 ) 

JPMorgan Chase & Co.

      400        3,601,200        128        4/9/20        (2,400 ) 

Lowe’s Cos., Inc.

      640        5,507,200        120        4/17/20        (7,040 ) 

Micron Technology, Inc.

      895        3,764,370        60        4/17/20        (2,685 ) 

Microsoft Corp.

      1,425        22,473,675        165        4/24/20        (733,875 ) 

Mondelez International, Inc., Class A

      860        4,306,880        53        5/15/20        (108,360 ) 

Netflix, Inc.

      120        4,506,000        420        5/1/20        (85,800 ) 

NIKE, Inc., Class B

      650        5,378,100        100        4/17/20        (8,125 ) 

PayPal Holdings, Inc.

      1,085        10,387,790        105        5/15/20        (342,318 ) 

PepsiCo, Inc.

      140        1,681,400        140        4/17/20        (2,730 ) 

QUALCOMM, Inc.

      1,160        7,847,400        75        4/24/20        (174,580 ) 

SailPoint Technologies Holding, Inc.

      1,690        2,572,180        25        5/15/20        (42,250 ) 

salesforce.com, inc.

      870        12,526,260        160        4/24/20        (196,185 ) 

Starbucks Corp.

      695        4,568,930        73        4/17/20        (79,925 ) 

Texas Instruments, Inc.

      475        4,746,675        140        4/17/20        (3,562 ) 

TJX Cos., Inc. (The)

      325        1,553,825        68        4/17/20        (2,437 ) 

Twitter, Inc.

      865        2,124,440        30        4/24/20        (12,975 ) 

Uber Technologies, Inc.

      740        2,066,080        27        4/17/20        (202,390 ) 

Union Pacific Corp.

      95        1,339,880        140        4/24/20        (88,113 ) 

UnitedHealth Group, Inc.

      245        6,109,810        300        4/17/20        (8,942 ) 

Vertex Pharmaceuticals, Inc.

      155        3,688,225        245        4/24/20        (113,150 ) 

 

5

 

 

                                                                                                                            
Description    Number of
Contracts		      Notional
Amount		      Exercise
Price		      Expiration
Date		      Value  

Visa, Inc., Class A

      1,200      $ 19,334,400      $ 170        4/24/20      $ (600,000 ) 

Walt Disney Co. (The)

      595        5,747,700        130        4/3/20        (892 ) 

Waste Connections, Inc.

      320        2,480,000        90        5/15/20        (19,200 ) 

Waste Management, Inc.

      255        2,360,280        115        5/15/20        (7,012 ) 

Woodward, Inc.

      650        3,863,600        80        5/15/20        (92,625 ) 

Zebra Technologies Corp., Class A

      260        4,773,600        270        5/15/20        (65,000 ) 

Zscaler, Inc.

      940        5,720,840        65        4/24/20        (237,350 ) 
              

 

 

  

Total

 

    $ (6,081,813 ) 
              

 

 

  

 

Abbreviations:

ADR

   -   American Depositary Receipt

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 covered call options on individual stocks above the current value of the stock to generate premium income. In writing call options on individual stocks, the Fund in effect, sells potential appreciation in the value of the applicable stock 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 stock decline.

At March 31, 2020, the value of the Fund’s investment in affiliated funds was $7,934,459, which represents 1.1% of the Fund’s net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended March 31, 2020 were as follows:

 

                                                                                                                                                                                                       

Name of

affiliated fund

    Value,
beginning of
period		      Purchases      Sales
proceeds		     Net
realized
gain (loss)		     Change in
unrealized
appreciation
(depreciation)		      Value, end of
period		      Dividend
income		      Units, end
of period		  

Short-Term Investments

 

Eaton Vance Cash Reserves Fund, LLC

    $ 6,620,637      $ 48,629,122      $ (47,310,984 )    $ (4,837 )    $ 521      $ 7,934,459      $ 23,763        7,937,634  

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

    $     704,365,322 *     $ —      $     —      $     704,365,322  

Short-Term Investments

      —        7,934,459        —        7,934,459  

Total Investments

    $ 704,365,322      $     7,934,459      $ —      $ 712,299,781  
Liability Description                                

Written Covered Call Options

    $ (6,081,813 )     $ —      $ —      $ (6,081,813 ) 

Total

    $ (6,081,813 )     $ —      $ —      $ (6,081,813 ) 

 

*

The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

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.

 

6