NPORT-EX 1 NPORT_8669973051842615.htm HTML

Eaton Vance

Enhanced Equity Income Fund

June 30, 2019

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 99.2%(1)

 

                                                 
Security    Shares      Value  

Auto Components — 1.5%

      

Aptiv PLC

      108,923      $ 8,804,246  
     

 

 

  
      $ 8,804,246  
     

 

 

  

Banks — 7.6%

      

Bank of America Corp.

      590,837      $ 17,134,273  

JPMorgan Chase & Co.

      186,191        20,816,154  

PNC Financial Services Group, Inc. (The)

      54,766        7,518,276  
     

 

 

  
      $ 45,468,703  
     

 

 

  

Beverages — 2.9%

      

Constellation Brands, Inc., Class A

      43,507      $ 8,568,269  

PepsiCo, Inc.

      67,441        8,843,538  
     

 

 

  
      $ 17,411,807  
     

 

 

  

Biotechnology — 3.0%

      

Gilead Sciences, Inc.

      123,167      $ 8,321,162  

Vertex Pharmaceuticals, Inc.(2)

     51,228        9,394,191  
     

 

 

  
      $ 17,715,353  
     

 

 

  

Capital Markets — 1.4%

      

Charles Schwab Corp. (The)

      206,200      $ 8,287,178  
     

 

 

  
      $ 8,287,178  
     

 

 

  

Chemicals — 0.7%

      

DuPont de Nemours, Inc.

      56,052      $ 4,207,824  
     

 

 

  
      $ 4,207,824  
     

 

 

  

Commercial Services & Supplies — 0.9%

      

Waste Management, Inc.

      48,167      $ 5,557,027  
     

 

 

  
      $ 5,557,027  
     

 

 

  

Consumer Finance — 2.3%

      

American Express Co.

      110,148      $ 13,596,669  
     

 

 

  
      $ 13,596,669  
     

 

 

  

Containers & Packaging — 1.7%

      

Ball Corp.

      143,685      $ 10,056,513  
     

 

 

  
      $ 10,056,513  
     

 

 

  

Diversified Telecommunication Services — 3.0%

      

Verizon Communications, Inc.

      318,110      $ 18,173,624  
     

 

 

  
      $ 18,173,624  
     

 

 

  

Electric Utilities — 1.6%

      

NextEra Energy, Inc.

      47,481      $ 9,726,958  
     

 

 

  
      $ 9,726,958  
     

 

 

  

Electrical Equipment — 1.2%

      

Eaton Corp. PLC

      83,317      $ 6,938,640  
     

 

 

  
      $ 6,938,640  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Entertainment — 5.7%

      

Live Nation Entertainment, Inc.(2)

     162,120      $ 10,740,450  

Spotify Technology SA(2)

     63,822        9,332,053  

Walt Disney Co. (The)

      98,652        13,775,765  
     

 

 

  
      $ 33,848,268  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 2.5%

      

American Tower Corp.

      49,873      $ 10,196,535  

CubeSmart

      132,167        4,419,664  
     

 

 

  
      $ 14,616,199  
     

 

 

  

Food Products — 1.5%

      

Mondelez International, Inc., Class A

      170,347      $ 9,181,703  
     

 

 

  
      $ 9,181,703  
     

 

 

  

Health Care Equipment & Supplies — 4.9%

      

Abbott Laboratories

      172,810      $ 14,533,321  

Danaher Corp.

      103,529        14,796,365  
     

 

 

  
      $ 29,329,686  
     

 

 

  

Household Products — 2.4%

      

Procter & Gamble Co. (The)

      128,486      $ 14,088,490  
     

 

 

  
      $ 14,088,490  
     

 

 

  

Insurance — 1.8%

      

Progressive Corp. (The)

      131,336      $ 10,497,686  
     

 

 

  
      $ 10,497,686  
     

 

 

  

Interactive Media & Services — 1.4%

      

Alphabet, Inc., Class C(2)

     7,500      $ 8,106,825  
     

 

 

  
      $ 8,106,825  
     

 

 

  

Internet & Direct Marketing Retail — 3.9%

      

Amazon.com, Inc.(2)

     12,192      $ 23,087,137  
     

 

 

  
      $ 23,087,137  
     

 

 

  

IT Services — 9.2%

      

Accenture PLC, Class A

      63,795      $ 11,787,402  

Akamai Technologies, Inc.(2)

     104,169        8,348,104  

Cognizant Technology Solutions Corp., Class A

      107,985        6,845,169  

GoDaddy, Inc., Class A(2)

     114,750        8,049,713  

Visa, Inc., Class A

      113,804        19,750,684  
     

 

 

  
      $ 54,781,072  
     

 

 

  

Life Sciences Tools & Services — 1.2%

      

Agilent Technologies, Inc.

      99,526      $ 7,431,606  
     

 

 

  
      $ 7,431,606  
     

 

 

  

Machinery — 4.6%

      

Caterpillar, Inc.

      106,633      $ 14,533,012  

Fortive Corp.

      160,951        13,120,725  
     

 

 

  
      $ 27,653,737  
     

 

 

  

Multi-Utilities — 1.4%

      

Sempra Energy

      60,333      $ 8,292,168  
     

 

 

  
      $ 8,292,168  
     

 

 

  

Oil, Gas & Consumable Fuels — 5.1%

      

ConocoPhillips

      103,032      $ 6,284,952  

EOG Resources, Inc.

      66,300        6,176,508  

Exxon Mobil Corp.

      163,132        12,500,805  

 

2

 

 

                                                 
Security    Shares      Value  

Phillips 66

      56,854      $ 5,318,123  
     

 

 

  
      $ 30,280,388  
     

 

 

  

Pharmaceuticals — 5.6%

      

Bristol-Myers Squibb Co.

      139,524      $ 6,327,413  

Johnson & Johnson

      108,955        15,175,253  

Zoetis, Inc.

      106,890        12,130,946  
     

 

 

  
      $ 33,633,612  
     

 

 

  

Road & Rail — 2.2%

      

CSX Corp.

      173,160      $ 13,397,389  
     

 

 

  
      $ 13,397,389  
     

 

 

  

Semiconductors & Semiconductor Equipment — 2.0%

      

Texas Instruments, Inc.

      102,938      $ 11,813,165  
     

 

 

  
      $ 11,813,165  
     

 

 

  

Software — 7.2%

      

Intuit, Inc.

     38,700      $ 10,113,471  

Microsoft Corp.

      245,866        32,936,209  
     

 

 

  
      $ 43,049,680  
     

 

 

  

Specialty Retail — 4.1%

      

Best Buy Co., Inc.

      106,230      $ 7,407,418  

Home Depot, Inc. (The)

     43,000        8,942,710  

Tractor Supply Co.

      74,532        8,109,082  
     

 

 

  
      $ 24,459,210  
     

 

 

  

Technology Hardware, Storage & Peripherals — 3.3%

      

Apple, Inc.

      99,580      $ 19,708,874  
     

 

 

  
      $ 19,708,874  
     

 

 

  

Textiles, Apparel & Luxury Goods — 1.4%

      

NIKE, Inc., Class B

      96,888      $ 8,133,747  
     

 

 

  
      $ 8,133,747  
     

 

 

  

Total Common Stocks
(identified cost $403,938,550)

       $ 591,335,184  
     

 

 

  

Short-Term Investments — 1.5%

      
Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 2.40%(3)

     8,876,999      $ 8,876,999  
     

 

 

  

Total Short-Term Investments
(identified cost $8,876,999)

       $ 8,876,999  
     

 

 

  

Total Investments — 100.7%
(identified cost $412,815,549)

       $ 600,212,183  
     

 

 

  

Total Written Covered Call Options — (0.6)%
(premiums received $3,827,532)

       $ (3,665,568 ) 
     

 

 

  

Other Assets, Less Liabilities — (0.1)%

       $ (326,451 ) 
     

 

 

  

Net Assets — 100.0%

       $ 596,220,164  
     

 

 

  

 

3

 

 

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 June 30, 2019 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 June 30, 2019. Net income from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended June 30, 2019 was $97,411.

Written Covered Call Options — (0.6)%

Exchange-Traded Options — (0.6)%

 

                                                                                                                            
Description    Number of
Contracts		      Notional
Amount		      Exercise
Price		      Expiration
Date		      Value  

Abbott Laboratories

      865      $ 7,274,650      $ 85        7/19/19      $ (95,583 ) 

Accenture PLC, Class A

      320        5,912,640        190        8/19/19        (68,000 ) 

Agilent Technologies, Inc.

      500        3,733,500        75        7/19/19        (63,750 ) 

Akamai Technologies, Inc.

      520        4,167,280        85        8/19/19        (90,220 ) 

Alphabet, Inc., Class C

      35        3,783,185        1,160        7/19/19        (25,725 ) 

Amazon.com, Inc.

      60        11,361,780        2,000        7/19/19        (46,800 ) 

American Express Co.

      550        6,789,200        125        7/19/19        (46,200 ) 

American Tower Corp.

      250        5,111,250        220        7/19/19        (1,875 ) 

Apple, Inc.

      500        9,896,000        210        7/19/19        (53,000 ) 

Aptiv PLC

      545        4,405,235        78        7/19/19        (250,700 ) 

Ball Corp.

      720        5,039,280        68        8/19/19        (295,200 ) 

Bank of America Corp.

      2,970        8,613,000        30        7/19/19        (93,555 ) 

Best Buy Co., Inc.

      530        3,695,690        73        7/19/19        (36,570 ) 

Bristol-Myers Squibb Co.

      510        2,312,850        50        7/19/19        (2,040 ) 

Caterpillar, Inc.

      530        7,223,370        140        8/19/19        (194,775 ) 

Cognizant Technology Solutions Corp., Class A

      540        3,423,060        65        7/19/19        (45,900 ) 

Constellation Brands, Inc., Class A

      215        4,234,210        205        8/19/19        (56,438 ) 

CSX Corp.

      870        6,731,190        83        8/19/19        (67,425 ) 

Danaher Corp.

      520        7,431,840        145        7/19/19        (104,000 ) 

DuPont de Nemours, Inc.

      280        2,101,960        80        7/19/19        (6,020 ) 

Eaton Corp. PLC

      415        3,456,120        85        8/19/19        (67,438 ) 

EOG Resources, Inc.

      330        3,074,280        95        7/19/19        (77,055 ) 

Exxon Mobil Corp.

      815        6,245,345        80        8/19/19        (54,197 ) 

Fortive Corp.

      805        6,562,360        80        7/19/19        (207,690 ) 

Gilead Sciences, Inc.

      615        4,154,940        72        7/19/19        (34,747 ) 

GoDaddy, Inc., Class A

      575        4,033,625        78        8/19/19        (51,750 ) 

Home Depot, Inc. (The)

      215        4,471,355        210        8/19/19        (102,125 ) 

Intuit, Inc.

      190        4,965,270        260        7/19/19        (120,650 ) 

Johnson & Johnson

      545        7,590,760        145        8/19/19        (74,120 ) 

JPMorgan Chase & Co.

      935        10,453,300        115        7/19/19        (65,450 ) 

Live Nation Entertainment, Inc.

      810        5,366,250        73        8/19/19        (64,800 ) 

Microsoft Corp.

      1,225        16,410,100        140        8/19/19        (246,225 ) 

Mondelez International, Inc., Class A

      855        4,608,450        55        7/19/19        (27,360 ) 

NextEra Energy, Inc.

      235        4,814,210        210        7/19/19        (23,500 ) 

NIKE, Inc., Class B

      485        4,071,575        90        7/19/19        (5,820 ) 

PepsiCo, Inc.

      335        4,392,855        137        7/19/19        (10,553 ) 

Phillips 66

      285        2,665,890        90        7/19/19        (128,250 ) 

 

4

 

 

                                                                                                                            
Description    Number of
Contracts		      Notional
Amount		      Exercise
Price		      Expiration
Date		      Value  

PNC Financial Services Group, Inc. (The)

      270      $ 3,706,560      $ 140        8/19/19      $ (70,605 ) 

Procter & Gamble Co. (The)

      640        7,017,600        113        7/19/19        (24,960 ) 

Progressive Corp. (The)

      660        5,275,380        88        7/19/19        (6,600 ) 

Sempra Energy

      300        4,123,200        145        8/19/19        (20,250 ) 

Spotify Technology SA

      325        4,752,150        160        7/19/19        (26,000 ) 

Tractor Supply Co.

      370        4,025,600        110        7/19/19        (67,525 ) 

Verizon Communications, Inc.

      1,590        9,083,670        60        8/19/19        (62,010 ) 

Vertex Pharmaceuticals, Inc.

      255        4,676,190        190        7/19/19        (61,200 ) 

Visa, Inc., Class A

      575        9,979,125        175        7/19/19        (171,350 ) 

Walt Disney Co. (The)

      495        6,912,180        145        7/19/19        (35,887 ) 

Waste Management, Inc.

      240        2,768,880        115        7/19/19        (46,800 ) 

Zoetis, Inc.

      535        6,071,715        120        8/19/19        (66,875 ) 
              

 

 

  

Total

                $ (3,665,568 ) 
              

 

 

  

At June 30, 2019, 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 June 30, 2019, 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 $3,665,568.

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.

 

5

 

 

At June 30, 2019, 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

    $  591,335,184 *     $ —      $ —      $ 591,335,184  

Short-Term Investments

      —        8,876,999        —        8,876,999  

Total Investments

    $      591,335,184      $     8,876,999      $     —      $     600,212,183  
Liability Description                                

Written Covered Call Options

    $ (3,665,568 )     $ —      $ —      $ (3,665,568 ) 

Total

    $ (3,665,568 )     $ —      $ —      $ (3,665,568 ) 

 

*

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