NPORT-EX 2 NPORT_LCXB_61082938_0921.htm BlackRock Enhanced Capital and Income Fund

Schedule of Investments  (unaudited)

September 30, 2021

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  

Common Stocks

 

Aerospace & Defense — 1.4%

 

BAE Systems PLC, ADR

     408,780     $     12,496,405  
   

 

 

  
Air Freight & Logistics — 1.0%  

C.H. Robinson Worldwide, Inc.

     106,361       9,253,407  
   

 

 

  
Automobiles — 2.1%            

General Motors Co.(a)

    364,161       19,194,926  
   

 

 

  
Banks — 3.6%            

Bank of America Corp.(b)

    323,163       13,718,269  

JPMorgan Chase & Co.

     117,011       19,153,531  
   

 

 

  
      32,871,800  
Beverages — 0.7%            

Coca-Cola Co.

     126,386       6,631,473  
   

 

 

  
Capital Markets — 3.3%            

Intercontinental Exchange, Inc.

     103,277       11,858,265  

Morgan Stanley

     191,511       18,635,936  
   

 

 

  
      30,494,201  
Chemicals — 3.4%            

Axalta Coating Systems Ltd.(a)

    310,515       9,063,933  

Corteva, Inc.

     523,568       22,031,741  
   

 

 

  
      31,095,674  
Communications Equipment — 3.2%  

Ciena Corp.(a)

    165,852       8,516,500  

Cisco Systems, Inc.

     389,111       21,179,312  
   

 

 

  
      29,695,812  
Construction & Engineering — 1.5%  

Quanta Services, Inc.

     119,358       13,585,328  
   

 

 

  
Consumer Finance — 2.8%            

Ally Financial, Inc.

     252,166       12,873,074  

Capital One Financial Corp.

     78,440       12,704,927  
   

 

 

  
      25,578,001  
Containers & Packaging — 1.2%            

Sealed Air Corp.

     195,860       10,731,169  
   

 

 

  
Diversified Financial Services — 2.4%  

Berkshire Hathaway, Inc., Class B(a)

    80,698       22,025,712  
   

 

 

  
Entertainment — 1.2%            

World Wrestling Entertainment, Inc., Class A

     200,194       11,262,914  
   

 

 

  
Health Care Equipment & Supplies — 0.9%  

Koninklijke Philips NV, NY Shares

     178,389       7,927,607  
   

 

 

  
Health Care Providers & Services — 6.4%  

Anthem, Inc.

     33,285       12,408,648  

Humana, Inc.

     14,908       5,801,448  

Laboratory Corp. of America Holdings(a)

    57,985       16,319,298  

UnitedHealth Group, Inc.

     62,093       24,262,219  
   

 

 

  
      58,791,613  
Health Care Technology — 0.7%  

Veeva Systems, Inc., Class A(a)

    22,256       6,413,512  
   

 

 

  
Hotels, Restaurants & Leisure — 0.7%  

Las Vegas Sands Corp.(a)

    172,808       6,324,773  
   

 

 

  
Insurance — 0.5%            

Fidelity National Financial, Inc.

     111,197       5,041,672  
   

 

 

  
Security   Shares     Value  
Interactive Media & Services(a) — 9.8%  

Alphabet, Inc., Class A(b)

    22,279     $     59,563,352  

Facebook, Inc., Class A

     89,309       30,310,582  
   

 

 

  
      89,873,934  
Internet & Direct Marketing Retail — 5.3%  

Amazon.com, Inc.(a)(c)

    14,914       48,993,087  
   

 

 

  
IT Services — 6.3%            

Fidelity National Information Services, Inc.

     135,181       16,448,824  

FleetCor Technologies, Inc.(a)

    61,822       16,152,234  

Visa, Inc., Class A(b)

    115,840       25,803,360  
   

 

 

  
      58,404,418  
Life Sciences Tools & Services — 0.9%  

Avantor, Inc.(a)

    192,950       7,891,655  
   

 

 

  
Machinery — 2.0%            

Fortive Corp.

     164,923       11,638,616  

Otis Worldwide Corp.

     88,117       7,250,267  
   

 

 

  
      18,888,883  
Media — 3.6%            

Comcast Corp., Class A

     425,002       23,770,362  

Fox Corp., Class A

     236,458       9,484,330  
   

 

 

  
      33,254,692  
Multi-line Retail — 3.1%            

Dollar General Corp.

     71,218       15,108,187  

Dollar Tree, Inc.(a)

    136,892       13,103,302  
   

 

 

  
      28,211,489  
Oil, Gas & Consumable Fuels — 3.5%  

ConocoPhillips

     296,788       20,113,323  

EQT Corp.(a)

    595,527       12,184,482  
   

 

 

  
      32,297,805  
Personal Products — 1.3%            

Unilever PLC, ADR

     224,788       12,188,005  
   

 

 

  
Pharmaceuticals — 2.7%            

Novo Nordisk A/S, ADR

     90,993       8,736,238  

Sanofi, ADR

     338,682       16,327,859  
   

 

 

  
      25,064,097  
Real Estate Management & Development — 1.4%  

CBRE Group, Inc., Class A(a)

    134,584       13,103,098  
   

 

 

  
Road & Rail — 1.2%            

Norfolk Southern Corp.

     47,830       11,443,328  
   

 

 

  
Semiconductors & Semiconductor Equipment — 5.2%  

Analog Devices, Inc.

     76,750       12,854,090  

Applied Materials, Inc.

     131,310       16,903,536  

Taiwan Semiconductor Manufacturing Co. Ltd., ADR

     161,690       18,052,689  
   

 

 

  
      47,810,315  
Software — 8.1%            

CDK Global, Inc.

     288,584       12,279,249  

Microsoft Corp.(b)

    221,941       62,569,607  
   

 

 

  
      74,848,856  
Specialty Retail — 2.6%            

O’Reilly Automotive, Inc.(a)

    15,549       9,501,372  

Ross Stores, Inc.

     132,958       14,472,478  
   

 

 

  
      23,973,850  
Technology Hardware, Storage & Peripherals — 4.5%  

Apple, Inc.(b)

    294,908       41,729,482  
   

 

 

  
 

 

 

1

  

Schedule of Investments  (unaudited) (continued)

September 30, 2021

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Wireless Telecommunication Services — 0.9%  

Vodafone Group PLC, ADR

     559,578     $ 8,645,480  
   

 

 

  

Total Long-Term Investments — 99.4%
(Cost: $567,019,040)

 

     916,038,473  
   

 

 

  
Short-Term Securities            

Money Market Funds — 1.5%

    

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.01%(d)(e)

    13,629,459       13,629,459  
   

 

 

  

Total Short-Term Securities — 1.5%
(Cost: $13,629,459)

 

     13,629,459  
   

 

 

  

Total Investments Before Options Written — 100.9%
(Cost: $580,648,499)

 

     929,667,932  
   

 

 

  

Options Written — (0.8)%
(Premiums Received: $(10,551,442))

 

     (7,488,493 ) 
   

 

 

  

Total Investments, Net of Options Written — 100.1%
(Cost: $570,097,057)

 

     922,179,439  

Liabilities in Excess of Other Assets — (0.1)%

 

     (663,854 ) 
   

 

 

  

Net Assets — 100.0%

 

   $   921,515,585  
   

 

 

  

 

(a) 

Non-income producing security.

(b) 

All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

(c) 

All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives.

(d) 

Affiliate of the Trust.

(e) 

Annualized 7-day yield as of period end.

 

For Trust compliance purposes, the Trust’s sector classifications refer to one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by the investment adviser. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

Affiliates

Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 2021 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliated Issuer   Value at
12/31/20 		    Purchases
at Cost 		    Proceeds
from Sales		     Net
Realized
Gain (Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value at
09/30/21 		    Shares
Held at
09/30/21 		    Income     Capital Gain
Distributions
from
Underlying
Funds 		 

BlackRock Liquidity Funds, T-Fund, Institutional Class

   $   11,614,004     $   2,015,455 (a)    $ —     $ —     $ —     $   13,629,459       13,629,459     $ 1,236     $ —  
       

 

 

    

 

 

    

 

 

      

 

 

    

 

 

  

 

  (a) 

Represents net amount purchased (sold).

 

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

 

Description    Number of
Contracts 		       Expiration
Date 		       Exercise Price        Notional
Amount (000)		        Value  
Call                                                   

Anthem, Inc.

      69          10/01/21        USD     380.00        USD     2,572        $ (6,555 ) 

Applied Materials, Inc.

      192          10/01/21        USD     135.00        USD     2,472          (864 ) 

Bank of America Corp.

      225          10/01/21        USD     43.00        USD     955          (2,475 ) 

C.H. Robinson Worldwide, Inc.

      187          10/01/21        USD     92.90        USD     1,627          —  

General Motors Co.

      374          10/01/21        USD     53.00        USD     1,971          (12,903 ) 

JPMorgan Chase & Co.

      196          10/01/21        USD     165.00        USD     3,208          (12,054 ) 

Norfolk Southern Corp.

      113          10/01/21        USD     275.00        USD     2,704          (11,300 ) 

Taiwan Semiconductor Manufacturing Co. Ltd.

      195          10/01/21        USD     114.00        USD     2,177          (1,853 ) 

Koninklijke Philips NV, NY Shares

      385          10/05/21        USD     45.11        USD     1,711          (12,700 ) 

Amazon.com, Inc.

      9          10/08/21        USD     3,575.00        USD     2,957          (914 ) 

Analog Devices, Inc.

      109          10/08/21        USD     175.00        USD     1,826          (6,268 ) 

Bank of America Corp.

      833          10/08/21        USD     41.43        USD     3,536          (127,017 ) 

Capital One Financial Corp.

      132          10/08/21        USD     180.00        USD     2,138          (1,980 ) 

Cisco Systems, Inc.

      182          10/08/21        USD     60.00        USD     991          (546 ) 

 

 

S C H E D U L E    O F    I N V E S T M E N  T S  

2

Schedule of Investments  (unaudited) (continued)

September 30, 2021

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price        Notional
Amount (000)		        Value  
Call (continued)  

Coca-Cola Co.

      588          10/08/21        USD     56.00        USD     3,085        $ (1,470 ) 

Comcast Corp., Class A

      15          10/08/21        USD     60.00        USD     84          (75 ) 

Comcast Corp., Class A

      219          10/08/21        USD     62.00        USD     1,225          (1,314 ) 

ConocoPhillips

      61          10/08/21        USD     56.96        USD     413          (66,280 ) 

Dollar General Corp.

      44          10/08/21        USD     230.00        USD     933          (440 ) 

Fox Corp., Class A

      171          10/08/21        USD     38.00        USD     686          (40,185 ) 

JPMorgan Chase & Co.

      166          10/08/21        USD     165.00        USD     2,717          (27,307 ) 

Microsoft Corp.

      261          10/08/21        USD     305.00        USD     7,358          (2,480 ) 

Ross Stores, Inc.

      50          10/08/21        USD     125.00        USD     544          (2,000 ) 

Taiwan Semiconductor Manufacturing Co. Ltd.

      240          10/08/21        USD     128.00        USD     2,680          (1,320 ) 

Vodafone Group PLC, ADR

      820          10/08/21        USD     17.50        USD     1,267          (8,200 ) 

Ally Financial, Inc.

      444          10/15/21        USD     55.00        USD     2,267          (8,658 ) 

Alphabet Inc., Class A

      46          10/15/21        USD     2,750.00        USD     12,298          (128,570 ) 

Amazon.com, Inc.

      8          10/15/21        USD     3,600.00        USD     2,628          (1,940 ) 

Analog Devices, Inc.

      37          10/15/21        USD     170.00        USD     620          (8,880 ) 

Anthem, Inc.

      48          10/15/21        USD     390.00        USD     1,789          (11,880 ) 

Apple, Inc.

      205          10/15/21        USD     155.00        USD     2,901          (2,870 ) 

Axalta Coating Systems Ltd.

      441          10/15/21        USD     32.00        USD     1,287          (23,152 ) 

Bank of America Corp.

      430          10/15/21        USD     42.00        USD     1,825          (59,770 ) 

C.H. Robinson Worldwide, Inc.

      185          10/15/21        USD     92.50        USD     1,610          (2,775 ) 

Capital One Financial Corp.

      246          10/15/21        USD     164.40        USD     3,984          (80,565 ) 

CBRE Group, Inc., Class A

      402          10/15/21        USD     95.00        USD     3,914          (148,740 ) 

CDK Global, Inc.

      274          10/15/21        USD     42.03        USD     1,166          (53,731 ) 

Cisco Systems, Inc.

      1,077          10/15/21        USD     60.00        USD     5,862          (3,770 ) 

Comcast Corp., Class A

      220          10/15/21        USD     60.00        USD     1,230          (2,530 ) 

Comcast Corp., Class A

      219          10/15/21        USD     62.50        USD     1,225          (767 ) 

ConocoPhillips

      358          10/15/21        USD     60.00        USD     2,426          (293,560 ) 

Corteva, Inc.

      399          10/15/21        USD     44.00        USD     1,679          (11,970 ) 

Facebook, Inc., Class A

      94          10/15/21        USD     385.00        USD     3,190          (1,457 ) 

Fidelity National Financial, Inc.

      587          10/15/21        USD     50.00        USD     2,661          (29,350 ) 

Fidelity National Information Services, Inc.

      122          10/15/21        USD     135.00        USD     1,484          (3,050 ) 

FleetCor Technologies, Inc.

      111          10/15/21        USD     266.01        USD     2,900          (40,796 ) 

Fortive Corp.

      663          10/15/21        USD     75.00        USD     4,679          (11,603 ) 

General Motors Co.

      45          10/15/21        USD     52.50        USD     237          (8,348 ) 

Humana, Inc.

      26          10/15/21        USD     420.00        USD     1,012          (1,495 ) 

Intercontinental Exchange, Inc.

      307          10/15/21        USD     120.00        USD     3,525          (10,745 ) 

JPMorgan Chase & Co.

      117          10/15/21        USD     165.00        USD     1,915          (32,643 ) 

Koninklijke Philips NV, NY Shares

      414          10/15/21        USD     45.00        USD     1,840          (33,120 ) 

Laboratory Corp. of America Holdings

      103          10/15/21        USD     310.00        USD     2,899          (15,192 ) 

Las Vegas Sands Corp.

      195          10/15/21        USD     44.00        USD     714          (1,463 ) 

Microsoft Corp.

      256          10/15/21        USD     295.00        USD     7,217          (37,248 ) 

Morgan Stanley

      294          10/15/21        USD     105.00        USD     2,861          (15,435 ) 

Norfolk Southern Corp.

      90          10/15/21        USD     270.00        USD     2,153          (2,025 ) 

O’Reilly Automotive, Inc.

      62          10/15/21        USD     620.00        USD     3,789          (44,950 ) 

Sealed Air Corp.

      211          10/15/21        USD     60.00        USD     1,156          (1,055 ) 

UnitedHealth Group, Inc.

      150          10/15/21        USD     430.00        USD     5,861          (8,400 ) 

Veeva Systems, Inc., Class A

      61          10/15/21        USD     330.00        USD     1,758          (1,068 ) 

Visa, Inc., Class A

      59          10/15/21        USD     240.00        USD     1,314          (1,741 ) 

Vodafone Group PLC, ADR

      532          10/15/21        USD     18.00        USD     822          (1,596 ) 

World Wrestling Entertainment, Inc., Class A

      369          10/15/21        USD     50.00        USD     2,076          (249,075 ) 

Amazon.com, Inc.

      1          10/22/21        USD     3,575.00        USD     329          (705 ) 

Apple, Inc.

      334          10/22/21        USD     155.00        USD     4,726          (9,519 ) 

Applied Materials, Inc.

      360          10/22/21        USD     140.00        USD     4,634          (35,460 ) 

Bank of America Corp.

      146          10/22/21        USD     41.00        USD     620          (32,996 ) 

Berkshire Hathaway, Inc., Class B

      340          10/22/21        USD     285.00        USD     9,280          (29,070 ) 

Ciena Corp.

      120          10/22/21        USD     58.00        USD     616          (9,000 ) 

Cisco Systems, Inc.

      182          10/22/21        USD     60.00        USD     991          (910 ) 

Comcast Corp., Class A

      7          10/22/21        USD     61.00        USD     39          (84 ) 

ConocoPhillips

      259          10/22/21        USD     59.00        USD     1,755          (238,927 ) 

Dollar General Corp.

      144          10/22/21        USD     225.00        USD     3,055          (6,840 ) 

Dollar Tree, Inc.

      299          10/22/21        USD     93.35        USD     2,862          (123,056 ) 

General Motors Co.

      379          10/22/21        USD     52.00        USD     1,998          (89,633 ) 

 

 

3        

Schedule of Investments  (unaudited) (continued)

September 30, 2021

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price        Notional
Amount (000)		        Value  
Call (continued)  

JPMorgan Chase & Co.

      266          10/22/21        USD     165.00        USD     4,354        $ (89,110 ) 

Microsoft Corp.

      114          10/22/21        USD     305.00        USD     3,214          (9,975 ) 

UnitedHealth Group, Inc.

      67          10/22/21        USD     415.00        USD     2,618          (21,071 ) 

Visa, Inc., Class A

      154          10/22/21        USD     240.00        USD     3,430          (7,546 ) 

CDK Global, Inc.

      223          10/25/21        USD     42.50        USD     949          (27,191 ) 

Applied Materials, Inc.

      220          10/29/21        USD     145.00        USD     2,832          (15,620 ) 

Ciena Corp.

      118          10/29/21        USD     56.00        USD     606          (3,835 ) 

Ciena Corp.

      107          10/29/21        USD     53.00        USD     549          (7,276 ) 

Coca-Cola Co.

      366          10/29/21        USD     57.00        USD     1,920          (2,562 ) 

ConocoPhillips

      676          10/29/21        USD     59.00        USD     4,581          (659,100 ) 

General Motors Co.

      294          10/29/21        USD     53.00        USD     1,550          (69,237 ) 

Norfolk Southern Corp.

      101          10/29/21        USD     250.00        USD     2,416          (33,330 ) 

Vodafone Group PLC, ADR

      1,000          10/29/21        USD     17.50        USD     1,545          (9,000 ) 

Bank of America Corp.

      256          11/03/21        USD     40.50        USD     1,087          (71,224 ) 

Cisco Systems, Inc.

      94          11/03/21        USD     56.00        USD     512          (6,747 ) 

Alphabet Inc., Class A

      17          11/05/21        USD     2,845.00        USD     4,545          (59,075 ) 

Alphabet Inc., Class A

      37          11/05/21        USD     2,825.00        USD     9,892          (166,342 ) 

Amazon.com, Inc.

      9          11/05/21        USD     3,470.00        USD     2,957          (45,900 ) 

Apple, Inc.

      784          11/05/21        USD     148.00        USD     11,094          (193,648 ) 

Applied Materials, Inc.

      55          11/05/21        USD     150.00        USD     708          (3,493 ) 

Ciena Corp.

      235          11/05/21        USD     53.00        USD     1,207          (21,855 ) 

Cisco Systems, Inc.

      257          11/05/21        USD     57.00        USD     1,399          (11,950 ) 

Comcast Corp., Class A

      440          11/05/21        USD     58.00        USD     2,461          (41,800 ) 

ConocoPhillips

      64          11/05/21        USD     65.00        USD     434          (29,280 ) 

Facebook, Inc., Class A

      289          11/05/21        USD     360.00        USD     9,808          (196,520 ) 

Las Vegas Sands Corp.

      116          11/05/21        USD     41.00        USD     425          (8,932 ) 

Microsoft Corp.

      258          11/05/21        USD     305.00        USD     7,274          (55,470 ) 

Morgan Stanley

      625          11/05/21        USD     104.00        USD     6,082          (91,875 ) 

Ross Stores, Inc.

      171          11/05/21        USD     116.51        USD     1,861          (21,939 ) 

Taiwan Semiconductor Manufacturing Co. Ltd.

      117          11/05/21        USD     117.00        USD     1,306          (22,990 ) 

Visa, Inc., Class A

      38          11/05/21        USD     235.00        USD     846          (9,747 ) 

Vodafone Group PLC, ADR

      531          11/05/21        USD     15.50        USD     820          (24,957 ) 

Fidelity National Information Services, Inc.

      121          11/08/21        USD     134.00        USD     1,472          (13,322 ) 

CDK Global, Inc.

      290          11/10/21        USD     44.25        USD     1,234          (25,069 ) 

Coca-Cola Co.

      215          11/10/21        USD     56.10        USD     1,128          (4,662 ) 

Facebook, Inc., Class A

      103          11/11/21        USD     366.00        USD     3,496          (55,394 ) 

Apple, Inc.

      274          11/12/21        USD     149.50        USD     3,877          (61,450 ) 

CBRE Group, Inc., Class A

      445          11/12/21        USD     98.25        USD     4,333          (152,604 ) 

ConocoPhillips

      358          11/12/21        USD     65.30        USD     2,426          (166,648 ) 

Otis Worldwide Corp.

      126          11/12/21        USD     90.50        USD     1,037          (5,713 ) 

Ross Stores, Inc.

      171          11/12/21        USD     113.00        USD     1,861          (48,735 ) 

Veeva Systems, Inc., Class A

      79          11/12/21        USD     321.00        USD     2,277          (20,951 ) 

EQT Corp.

      1,119          11/15/21        USD     20.01        USD     2,289          (223,416 ) 

Ally Financial, Inc.

      430          11/19/21        USD     55.00        USD     2,195          (43,860 ) 

Alphabet Inc., Class A

      40          11/19/21        USD     2,875.00        USD     10,694          (154,400 ) 

Analog Devices, Inc.

      303          11/19/21        USD     180.00        USD     5,075          (58,327 ) 

Apple, Inc.

      260          11/19/21        USD     155.00        USD     3,679          (35,620 ) 

Avantor, Inc.

      1,068          11/19/21        USD     45.00        USD     4,368          (74,760 ) 

Bank of America Corp.

      145          11/19/21        USD     41.00        USD     616          (40,382 ) 

Berkshire Hathaway, Inc., Class B

      168          11/19/21        USD     290.00        USD     4,585          (24,864 ) 

CDK Global, Inc.

      223          11/19/21        USD     43.50        USD     949          (28,936 ) 

Cisco Systems, Inc.

      659          11/19/21        USD     57.50        USD     3,587          (50,084 ) 

Coca-Cola Co.

      90          11/19/21        USD     57.50        USD     472          (1,305 ) 

Comcast Corp., Class A

      367          11/19/21        USD     57.50        USD     2,053          (51,563 ) 

ConocoPhillips

      93          11/19/21        USD     60.00        USD     630          (82,305 ) 

Corteva, Inc.

      195          11/19/21        USD     46.00        USD     821          (12,675 ) 

Dollar General Corp.

      61          11/19/21        USD     230.00        USD     1,294          (5,795 ) 

EQT Corp.

      965          11/19/21        USD     22.00        USD     1,974          (118,212 ) 

Facebook, Inc., Class A

      76          11/19/21        USD     375.00        USD     2,579          (34,200 ) 

Fidelity National Financial, Inc.

      126          11/19/21        USD     47.00        USD     571          (14,175 ) 

Fortive Corp.

      376          11/19/21        USD     75.00        USD     2,653          (39,480 ) 

Fox Corp., Class A

      242          11/19/21        USD     41.00        USD     971          (38,720 ) 

 

 

  S C H E D U L E    O F    I N V E S T M E  N T S          4

Schedule of Investments  (unaudited) (continued)

September 30, 2021

   

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise Price        Notional
Amount (000)		        Value  
Call (continued)  

General Motors Co.

      182          11/19/21        USD     55.00        USD     959        $ (36,764 ) 

Intercontinental Exchange, Inc.

      343          11/19/21        USD     120.00        USD     3,938          (53,165 ) 

Laboratory Corp. of America Holdings

      106          11/19/21        USD     300.00        USD     2,983          (56,710 ) 

Microsoft Corp.

      251          11/19/21        USD     300.00        USD     7,076          (107,930 ) 

O’Reilly Automotive, Inc.

      35          11/19/21        USD     610.00        USD     2,139          (88,900 ) 

Quanta Services, Inc.

      177          11/19/21        USD     115.00        USD     2,015          (93,810 ) 

Ross Stores, Inc.

      73          11/19/21        USD     120.00        USD     795          (9,855 ) 

Sanofi, ADR

      923          11/19/21        USD     50.00        USD     4,450          (78,455 ) 

Sealed Air Corp.

      183          11/19/21        USD     60.00        USD     1,003          (10,065 ) 

Taiwan Semiconductor Manufacturing Co. Ltd.

      14          11/19/21        USD     120.00        USD     156          (2,226 ) 

Unilever PLC, ADR

      178          11/19/21        USD     55.00        USD     965          (18,690 ) 

Visa, Inc., Class A

      160          11/19/21        USD     240.00        USD     3,564          (35,600 ) 

World Wrestling Entertainment, Inc., Class A

      331          11/19/21        USD     60.00        USD     1,862          (76,130 ) 

Quanta Services, Inc.

      575          11/29/21        USD     116.50        USD     6,545          (302,095 ) 

Microsoft Corp.

      258          12/17/21        USD     305.00        USD     7,274          (125,130 ) 

Sanofi, ADR

      262          12/17/21        USD     50.00        USD     1,263          (28,165 ) 
                          

 

 

  
                           $  (7,170,597 ) 
                          

 

 

  

OTC Options Written

 

Description    Counterparty      Number of
Contracts		        Expiration
Date		        Exercise Price        Notional
Amount (000)		        Value  

Call

                                   

BAE Systems PLC

    JPMorgan Chase Bank N.A.        19,400          10/06/21          USD       31.44          USD          593        $ (402 ) 

BAE Systems PLC

    Bank of America N.A.        38,000          10/12/21          USD       33.08          USD          1,162          (22 ) 

Unilever PLC, ADR

    Citibank N.A.        8,900          10/12/21          USD       58.25          USD          483          (169 ) 

Otis Worldwide Corp.

    UBS AG        46,900          10/13/21          USD       93.03          USD          3,859          (529 ) 

Axalta Coating Systems Ltd.

    Citibank N.A.        64,500          10/19/21          USD       30.03          USD          1,883          (44,267 ) 

Unilever PLC, ADR

    BNP Paribas SA        51,900          10/22/21          USD       58.00          USD          2,814          (5,841 ) 

BAE Systems PLC

    Credit Suisse International        26,000          10/26/21          USD       30.90          USD          795          (8,426 ) 

Ally Financial, Inc.

    JPMorgan Chase Bank N.A.        34,000          10/27/21          USD       51.74          USD          1,736          (55,000 ) 

Corteva, Inc.

    JPMorgan Chase Bank N.A.        123,800          11/02/21          USD       44.15          USD          5,210          (70,587 ) 

BAE Systems PLC

    Citibank N.A.        27,200          11/03/21          USD       30.87          USD          832          (10,751 ) 

Koninklijke Philips NV, NY Shares

    Goldman Sachs International        32,400          11/03/21          USD       47.91          USD          1,440          (17,276 ) 

Novo Nordisk A/S

    Bank of America N.A.        57,300          11/03/21          USD       103.27          USD          5,501          (47,805 ) 

Vodafone Group PLC, ADR

    Citibank N.A.        64,200          11/03/21          USD       16.93          USD          992          (2,406 ) 

BAE Systems PLC

    Credit Suisse International        13,000          11/10/21          USD       31.22          USD          397          (4,135 ) 

BAE Systems PLC

    Royal Bank of Canada        19,400          11/17/21          USD       31.13          USD          593          (7,508 ) 

Sealed Air Corp.

    Royal Bank of Canada        14,600          11/19/21          USD       56.88          USD          800          (22,421 ) 

Sealed Air Corp.

    Royal Bank of Canada        14,600          12/17/21          USD       56.88          USD          800          (20,351 ) 
                                  

 

 

  
                                   $  (317,896 ) 
    

 

 

  

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 – Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access;

 

  •  

Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market–corroborated inputs); and

 

  •  

Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the BlackRock Global Valuation Methodologies Committee’s (the “Global Valuation Committee’s”) assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The

 

 

5        

Schedule of Investments  (unaudited) (continued)

September 30, 2021

  

BlackRock Enhanced Capital and Income Fund, Inc. (CII)

 

Fair Value Hierarchy as of Period End (continued)

inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Global Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy. The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above.

 

      Level 1        Level 2        Level 3        Total  

Assets

                  

Investments

 

Long-Term Investments

 

Common Stocks

    $ 916,038,473        $ —        $ —        $   916,038,473  

Short-Term Securities

                  

Money Market Funds

      13,629,459          —          —          13,629,459  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $   929,667,932        $ —        $             —        $  929,667,932  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

 

Liabilities

 

Equity Contracts

    $ (5,559,656 )       $     (1,928,837 )       $ —        $ (7,488,493 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

Derivative financial instruments are options written. Options written are shown at value.

 

 

Currency Abbreviation

USD    United States Dollar
Portfolio Abbreviation
ADR    American Depositary Receipt

 

 

S C H E D U L E    O F    I N V E S T M E N T  S        6