NPORT-EX 2 NPORT_3239041313795600.htm HTML

Eaton Vance

Enhanced Equity Income Fund

June 30, 2020

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.3%(1)

 

                                                 
Security    Shares      Value  

Banks — 5.7%

 

Bank of America Corp.

      580,746      $ 13,792,718  

JPMorgan Chase & Co.

      150,004        14,109,376  

PNC Financial Services Group, Inc. (The)

      49,543        5,212,419  
     

 

 

  
   $ 33,114,513  
     

 

 

  

Beverages — 1.6%

 

PepsiCo, Inc.(2)

      71,562      $ 9,464,790  
     

 

 

  
   $ 9,464,790  
     

 

 

  

Biotechnology — 2.5%

 

Vertex Pharmaceuticals, Inc.(2)

      50,919      $ 14,782,295  
     

 

 

  
   $ 14,782,295  
     

 

 

  

Capital Markets — 1.5%

 

Goldman Sachs Group, Inc. (The)

      44,038      $ 8,702,790  
     

 

 

  
   $ 8,702,790  
     

 

 

  

Commercial Services & Supplies — 1.4%

 

Waste Management, Inc.

      78,443      $ 8,307,898  
     

 

 

  
   $ 8,307,898  
     

 

 

  

Communications Equipment — 1.6%

 

Cisco Systems, Inc.(2)

      199,546      $ 9,306,825  
     

 

 

  
   $ 9,306,825  
     

 

 

  

Consumer Finance — 1.6%

 

American Express Co.

      94,956      $ 9,039,811  
     

 

 

  
   $ 9,039,811  
     

 

 

  

Diversified Telecommunication Services — 2.3%

 

Verizon Communications, Inc.

      247,712      $ 13,656,363  
     

 

 

  
   $ 13,656,363  
     

 

 

  

Electric Utilities — 1.7%

 

NextEra Energy, Inc.

      41,286      $ 9,915,659  
     

 

 

  
   $ 9,915,659  
     

 

 

  

Electrical Equipment — 1.8%

 

Eaton Corp. PLC

      122,480      $ 10,714,550  
     

 

 

  
   $ 10,714,550  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Entertainment — 1.1%

 

Netflix, Inc.(2)

      13,663      $ 6,217,211  
     

 

 

  
   $ 6,217,211  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 2.1%

 

American Tower Corp.

      28,900      $ 7,471,806  

EastGroup Properties, Inc.

      39,636        4,701,226  
     

 

 

  
   $ 12,173,032  
     

 

 

  

Food & Staples Retailing — 1.9%

 

Walmart, Inc.

      90,828      $ 10,879,378  
     

 

 

  
   $ 10,879,378  
     

 

 

  

Food Products — 1.6%

 

Mondelez International, Inc., Class A(2)

      178,903      $ 9,147,310  
     

 

 

  
   $ 9,147,310  
     

 

 

  

Health Care Equipment & Supplies — 6.0%

 

Abbott Laboratories

      152,752      $ 13,966,115  

Boston Scientific Corp.(2)

      185,783        6,522,841  

Danaher Corp.

      82,571        14,601,030  
     

 

 

  
   $ 35,089,986  
     

 

 

  

Health Care Providers & Services — 2.1%

 

UnitedHealth Group, Inc.

      41,286      $ 12,177,306  
     

 

 

  
   $ 12,177,306  
     

 

 

  

Hotels, Restaurants & Leisure — 1.1%

 

Starbucks Corp.

      89,452      $ 6,582,773  
     

 

 

  
   $ 6,582,773  
     

 

 

  

Household Durables — 1.0%

 

D.R. Horton, Inc.

      105,966      $ 5,875,815  
     

 

 

  
   $ 5,875,815  
     

 

 

  

Household Products — 2.3%

 

Procter & Gamble Co. (The)

      112,847      $ 13,493,116  
     

 

 

  
   $ 13,493,116  
     

 

 

  

Insurance — 1.9%

 

Progressive Corp. (The)

      137,618      $ 11,024,578  
     

 

 

  
   $ 11,024,578  
     

 

 

  

Interactive Media & Services — 4.8%

 

Alphabet, Inc., Class C(2)

      11,008      $ 15,561,019  

Facebook, Inc., Class A(2)

      53,671        12,187,074  
     

 

 

  
   $ 27,748,093  
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Internet & Direct Marketing Retail — 6.5%

 

Amazon.com, Inc.(2)

      13,762      $ 37,966,881  
     

 

 

  
   $ 37,966,881  
     

 

 

  

IT Services — 6.2%

 

Accenture PLC, Class A

      64,678      $ 13,887,660  

GoDaddy, Inc., Class A(2)

      84,705        6,211,418  

Visa, Inc., Class A

      83,947        16,216,042  
     

 

 

  
   $ 36,315,120  
     

 

 

  

Life Sciences Tools & Services — 1.1%

 

Thermo Fisher Scientific, Inc.

      17,735      $ 6,426,100  
     

 

 

  
   $ 6,426,100  
     

 

 

  

Machinery — 2.0%

 

Caterpillar, Inc.

      90,828      $ 11,489,742  
     

 

 

  
   $ 11,489,742  
     

 

 

  

Metals & Mining — 2.5%

 

Franco-Nevada Corp.

      60,552      $ 8,455,481  

Rio Tinto PLC ADR

      114,223        6,417,048  
     

 

 

  
   $ 14,872,529  
     

 

 

  

Multi-Utilities — 1.1%

 

Sempra Energy

      53,671      $ 6,291,851  
     

 

 

  
   $ 6,291,851  
     

 

 

  

Oil, Gas & Consumable Fuels — 2.9%

 

Chevron Corp.

      72,938      $ 6,508,258  

ConocoPhillips

      81,195        3,411,814  

EOG Resources, Inc.

      72,938        3,695,039  

Phillips 66

      44,038        3,166,332  
     

 

 

  
   $ 16,781,443  
     

 

 

  

Pharmaceuticals — 3.3%

 

Sanofi(2)

      92,204      $ 9,403,384  

Zoetis, Inc.

      72,938        9,995,424  
     

 

 

  
   $ 19,398,808  
     

 

 

  

Road & Rail — 1.9%

 

CSX Corp.

      159,637      $ 11,133,084  
     

 

 

  
   $ 11,133,084  
     

 

 

  

Semiconductors & Semiconductor Equipment — 4.7%

 

Intel Corp.

      261,474      $ 15,643,989  

Texas Instruments, Inc.(2)

      93,581        11,881,980  
     

 

 

  
   $ 27,525,969  
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Software — 9.6%

 

Intuit, Inc.

      34,405      $ 10,190,417  

Microsoft Corp.(2)

      225,693        45,930,782  
     

 

 

  
   $ 56,121,199  
     

 

 

  

Specialty Retail — 3.0%

 

Best Buy Co., Inc.

      56,424      $ 4,924,122  

Lowe’s Cos., Inc.

      92,204        12,458,605  
     

 

 

  
   $ 17,382,727  
     

 

 

  

Technology Hardware, Storage & Peripherals — 6.1%

 

Apple, Inc.(2)

      97,709      $ 35,644,243  
     

 

 

  
   $ 35,644,243  
     

 

 

  

Textiles, Apparel & Luxury Goods — 1.8%

 

NIKE, Inc., Class B

      108,718      $ 10,659,800  
     

 

 

  
   $ 10,659,800  
     

 

 

  

Total Common Stocks
(identified cost $392,907,821)

 

    $ 585,423,588  
     

 

 

  

Short-Term Investments — 1.1%

 

Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.35%(3)

      6,109,981      $ 6,109,981  
     

 

 

  

Total Short-Term Investments
(identified cost $6,109,981)

 

    $ 6,109,981  
     

 

 

  

Total Investments — 101.4%
(identified cost $399,017,802)

 

    $ 591,533,569  
     

 

 

  

Total Written Covered Call Options — (1.3)%
(premiums received $7,751,488)

 

    $ (7,495,258 ) 
     

 

 

  

Other Assets, Less Liabilities — (0.1)%

 

    $ (443,190 ) 
     

 

 

  

Net Assets — 100.0%

 

    $ 583,595,121  
     

 

 

  

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, 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 June 30, 2020.

 

4

 

 

Written Covered Call Options — (1.3)%

Exchange-Traded Options — (1.3)%

 

                                                                                                                                                     
Description    Number of
Contracts		      Notional
Amount		      Exercise
Price		      Expiration
Date		      Value  

Abbott Laboratories

      770      $ 7,040,110      $ 95        7/24/20      $ (123,585 ) 

Accenture PLC, Class A

      330        7,085,760        210        7/17/20        (270,600 ) 

Alphabet, Inc., Class C

      55        7,774,855        1,425        7/17/20        (148,500 ) 

Amazon.com, Inc.

      65        17,932,330        2,750        7/24/20        (712,238 ) 

American Express Co.

      475        4,522,000        110        7/24/20        (13,300 ) 

American Tower Corp.

      145        3,748,830        270        7/17/20        (23,925 ) 

Apple, Inc.

      500        18,240,000        325        7/17/20        (2,045,000 ) 

Bank of America Corp.

      3,010        7,148,750        25        7/17/20        (155,015 ) 

Best Buy Co., Inc.

      285        2,487,195        90        8/21/20        (121,125 ) 

Boston Scientific Corp.

      945        3,317,895        39        7/17/20        (9,922 ) 

Caterpillar, Inc.

      470        5,945,500        145        8/21/20        (70,970 ) 

Chevron Corp.

      375        3,346,125        110        8/21/20        (12,562 ) 

Cisco Systems, Inc.

      1,035        4,827,240        46        7/17/20        (142,830 ) 

ConocoPhillips

      405        1,701,810        53        8/21/20        (14,580 ) 

CSX Corp.

      820        5,718,680        75        7/17/20        (32,800 ) 

D.R. Horton, Inc.

      545        3,022,025        55        7/17/20        (135,978 ) 

Danaher Corp.

      425        7,515,275        175        7/17/20        (183,813 ) 

Eaton Corp. PLC

      615        5,380,020        98        8/21/20        (81,488 ) 

EOG Resources, Inc.

      375        1,899,750        50        7/17/20        (104,813 ) 

Facebook, Inc., Class A

      275        6,244,425        240        7/17/20        (62,425 ) 

Franco-Nevada Corp.

      305        4,259,020        140        7/17/20        (149,450 ) 

GoDaddy, Inc., Class A

      420        3,079,860        83        8/21/20        (70,350 ) 

Goldman Sachs Group, Inc. (The)

      225        4,446,450        190        7/17/20        (263,813 ) 

Intel Corp.

      1,330        7,957,390        68        7/24/20        (34,580 ) 

Intuit, Inc.

      170        5,035,230        310        8/21/20        (154,700 ) 

JPMorgan Chase & Co.

      760        7,148,560        115        7/17/20        (10,260 ) 

Lowe’s Cos., Inc.

      470        6,350,640        135        7/17/20        (177,425 ) 

Microsoft Corp.

      1,135        23,098,385        205        7/24/20        (624,250 ) 

Mondelez International, Inc., Class A

      925        4,729,525        53        7/17/20        (34,687 ) 

Netflix, Inc.

      65        2,957,760        450        7/17/20        (159,413 ) 

NextEra Energy, Inc.

      205        4,923,485        260        8/21/20        (60,475 ) 

NIKE, Inc., Class B

      560        5,490,800        105        7/10/20        (5,040 ) 

PepsiCo, Inc.

      360        4,761,360        140        7/17/20        (13,860 ) 

Phillips 66

      225        1,617,750        85        7/2/20        (1,687 ) 

PNC Financial Services Group, Inc. (The)

      255        2,682,855        125        7/17/20        (3,825 ) 

Procter & Gamble Co. (The)

      580        6,935,060        120        7/17/20        (109,330 ) 

Progressive Corp. (The)

      690        5,527,590        85        8/21/20        (110,400 ) 

Rio Tinto PLC ADR

      575        3,230,350        60        8/21/20        (70,437 ) 

Sempra Energy

      275        3,223,825        135        7/17/20        (2,750 ) 

Starbucks Corp.

      450        3,311,550        80        7/24/20        (19,350 ) 

Texas Instruments, Inc.

      480        6,094,560        120        7/17/20        (400,800 ) 

Thermo Fisher Scientific, Inc.

      85        3,079,890        370        7/17/20        (33,150 ) 

UnitedHealth Group, Inc.

      205        6,046,475        300        7/24/20        (177,325 ) 

Verizon Communications, Inc.

      1,245        6,863,685        58        7/24/20        (31,125 ) 

Vertex Pharmaceuticals, Inc.

      255        7,402,905        300        7/17/20        (116,025 ) 

Visa, Inc., Class A

      425        8,209,725        200        7/17/20        (78,200 ) 

Walmart, Inc.

      455        5,449,990        130        8/21/20        (42,770 ) 

Waste Management, Inc.

      395        4,183,445        115        7/17/20        (4,937 ) 

Zoetis, Inc.

      375        5,139,000        140        7/17/20        (69,375 ) 
                 

 

 

  

Total

 

    $ (7,495,258 ) 
  

 

 

  

 

5

 

 

Abbreviations:

 

ADR

   -   American Depositary Receipt

At June 30, 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 June 30, 2020, the value of the Fund’s investment in affiliated funds was $6,109,981, which represents 1.1% of the Fund’s net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended June 30, 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

    $ 8,446,224      $ 126,185,508      $ (128,520,145 )    $ (1,548 )    $ (58 )    $ 6,109,981      $ 76,603        6,109,981  

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.

 

6

 

 

At June 30, 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

 

Communication Services

    $ 47,621,667      $ —      $ —      $ 47,621,667  

Consumer Discretionary

      78,467,996        —        —        78,467,996  

Consumer Staples

      42,984,594        —        —        42,984,594  

Energy

      16,781,443        —        —        16,781,443  

Financials

      61,881,692        —        —        61,881,692  

Health Care

      78,471,111        9,403,384        —        87,874,495  

Industrials

      41,645,274        —        —        41,645,274  

Information Technology

      164,913,356        —        —        164,913,356  

Materials

      14,872,529        —        —        14,872,529  

Real Estate

      12,173,032        —        —        12,173,032  

Utilities

      16,207,510        —        —        16,207,510  

Total Common Stocks

    $ 576,020,204      $ 9,403,384 *     $ —      $ 585,423,588  

Short-Term Investments

    $ —      $ 6,109,981      $ —      $ 6,109,981  

Total Investments

    $     576,020,204      $     15,513,365      $ —      $     591,533,569  
Liability Description                                

Written Covered Call Options

    $ (7,495,258 )     $ —      $ —      $ (7,495,258 ) 

Total

    $ (7,495,258 )     $ —      $ —      $ (7,495,258 ) 

 

*

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.

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.

 

7