NPORT-EX 2 NPORT_8299714384594587.htm html

Eaton Vance

Enhanced Equity Income Fund

December 31, 2020

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 99.8%(1)

 

                                                 
Security    Shares      Value  

Automobiles — 1.2%

 

General Motors Co.

      193,019      $ 8,037,311  
     

 

 

  
   $ 8,037,311  
     

 

 

  

Banks — 6.1%

 

Bank of America Corp.

      546,668      $ 16,569,507  

JPMorgan Chase & Co.

      141,202        17,942,538  

Wells Fargo & Co.

      199,496        6,020,790  
     

 

 

  
   $ 40,532,835  
     

 

 

  

Beverages — 2.2%

 

Constellation Brands, Inc., Class A

      20,727      $ 4,540,249  

PepsiCo, Inc.

      67,363        9,989,933  
     

 

 

  
   $ 14,530,182  
     

 

 

  

Biotechnology — 1.5%

 

Vertex Pharmaceuticals, Inc.(2)

      41,454      $ 9,797,238  
     

 

 

  
   $ 9,797,238  
     

 

 

  

Building Products — 0.6%

 

Johnson Controls International PLC

      86,794      $ 4,043,732  
     

 

 

  
   $ 4,043,732  
     

 

 

  

Capital Markets — 1.6%

 

Goldman Sachs Group, Inc. (The)

      41,454      $ 10,931,834  
     

 

 

  
   $ 10,931,834  
     

 

 

  

Communications Equipment — 0.9%

 

Cisco Systems, Inc.

      130,839      $ 5,855,045  
     

 

 

  
   $ 5,855,045  
     

 

 

  

Consumer Finance — 0.7%

 

American Express Co.

      41,316      $ 4,995,518  
     

 

 

  
   $ 4,995,518  
     

 

 

  

Diversified Telecommunication Services — 2.2%

 

Verizon Communications, Inc.

      248,723      $ 14,612,476  
     

 

 

  
   $ 14,612,476  
     

 

 

  

Electric Utilities — 1.8%

 

NextEra Energy, Inc.

      155,452      $ 11,993,122  
     

 

 

  
   $ 11,993,122  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Electrical Equipment — 2.1%

 

Eaton Corp. PLC

      115,294      $ 13,851,421  
     

 

 

  
   $ 13,851,421  
     

 

 

  

Entertainment — 3.2%

 

Live Nation Entertainment, Inc.(2)

      138,611      $ 10,185,136  

Netflix, Inc.(2)

      12,955        7,005,157  

Walt Disney Co. (The)(2)

      24,177        4,380,389  
     

 

 

  
   $ 21,570,682  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 2.2%

 

American Tower Corp.

      27,203      $ 6,105,985  

AvalonBay Communities, Inc.

      22,023        3,533,150  

EastGroup Properties, Inc.

      37,568        5,186,638  
     

 

 

  
   $ 14,825,773  
     

 

 

  

Food & Staples Retailing — 1.8%

 

Walmart, Inc.

      82,908      $ 11,951,188  
     

 

 

  
   $ 11,951,188  
     

 

 

  

Food Products — 1.5%

 

Mondelez International, Inc., Class A

      168,406      $ 9,846,699  
     

 

 

  
   $ 9,846,699  
     

 

 

  

Health Care Equipment & Supplies — 4.2%

 

Abbott Laboratories

      124,359      $ 13,616,067  

Danaher Corp.

      63,476        14,100,559  
     

 

 

  
   $ 27,716,626  
     

 

 

  

Health Care Providers & Services — 2.3%

 

UnitedHealth Group, Inc.

      43,938      $ 15,408,178  
     

 

 

  
   $ 15,408,178  
     

 

 

  

Hotels, Restaurants & Leisure — 1.4%

 

Starbucks Corp.

      84,203      $ 9,008,037  
     

 

 

  
   $ 9,008,037  
     

 

 

  

Household Durables — 0.5%

 

D.R. Horton, Inc.

      47,931      $ 3,303,405  
     

 

 

  
   $ 3,303,405  
     

 

 

  

Household Products — 2.2%

 

Procter & Gamble Co. (The)

      106,226      $ 14,780,286  
     

 

 

  
   $ 14,780,286  
     

 

 

  

Insurance — 2.6%

 

MetLife, Inc.

      126,952      $ 5,960,397  

Progressive Corp. (The)

      111,407        11,015,924  
     

 

 

  
   $ 16,976,321  
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Interactive Media & Services — 5.5%

 

Alphabet, Inc., Class C(2)

      10,362      $ 18,152,981  

Facebook, Inc., Class A(2)

      50,522        13,800,589  

Twitter, Inc.(2)

      79,022        4,279,041  
     

 

 

  
   $ 36,232,611  
     

 

 

  

Internet & Direct Marketing Retail — 5.7%

 

Amazon.com, Inc.(2)

      11,659      $ 37,972,547  
     

 

 

  
   $ 37,972,547  
     

 

 

  

IT Services — 6.9%

 

Accenture PLC, Class A

      54,405      $ 14,211,130  

Fidelity National Information Services, Inc.

      55,704        7,879,888  

GoDaddy, Inc., Class A(2)

      80,317        6,662,295  

Visa, Inc., Class A

      79,022        17,284,482  
     

 

 

  
   $ 46,037,795  
     

 

 

  

Life Sciences Tools & Services — 1.7%

 

Thermo Fisher Scientific, Inc.

      24,614      $ 11,464,709  
     

 

 

  
   $ 11,464,709  
     

 

 

  

Machinery — 2.0%

 

Caterpillar, Inc.

      33,682      $ 6,130,798  

PACCAR, Inc.

      81,612        7,041,483  
     

 

 

  
   $ 13,172,281  
     

 

 

  

Metals & Mining — 2.3%

 

Franco-Nevada Corp.

      56,999      $ 7,143,685  

Rio Tinto PLC ADR

      107,521        8,087,729  
     

 

 

  
   $ 15,231,414  
     

 

 

  

Multi-Utilities — 1.5%

 

CMS Energy Corp.

      55,704      $ 3,398,501  

Sempra Energy

      50,522        6,437,008  
     

 

 

  
   $ 9,835,509  
     

 

 

  

Oil, Gas & Consumable Fuels — 2.3%

 

Chevron Corp.

      68,658      $ 5,798,168  

ConocoPhillips

      76,431        3,056,476  

EOG Resources, Inc.

      68,658        3,423,974  

Phillips 66

      41,454        2,899,293  
     

 

 

  
   $ 15,177,911  
     

 

 

  

Pharmaceuticals — 3.0%

 

Sanofi

      86,794      $ 8,412,336  

Zoetis, Inc.

      68,658        11,362,899  
     

 

 

  
   $ 19,775,235  
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Road & Rail — 2.1%

 

CSX Corp.

      150,270      $ 13,637,003  
     

 

 

  
   $ 13,637,003  
     

 

 

  

Semiconductors & Semiconductor Equipment — 3.1%

 

Micron Technology, Inc.(2)

      82,908      $ 6,233,023  

Texas Instruments, Inc.

      88,090        14,458,212  
     

 

 

  
   $ 20,691,235  
     

 

 

  

Software — 9.3%

 

Intuit, Inc.

      32,386      $ 12,301,822  

Microsoft Corp.

      200,792        44,660,157  

Palantir Technologies, Inc., Class A(2)

      208,564        4,911,682  
     

 

 

  
   $ 61,873,661  
     

 

 

  

Specialty Retail — 2.3%

 

Best Buy Co., Inc.

      53,113      $ 5,300,146  

Lowe’s Cos., Inc.

      60,886        9,772,812  
     

 

 

  
   $ 15,072,958  
     

 

 

  

Technology Hardware, Storage & Peripherals — 6.9%

 

Apple, Inc.

      343,288      $ 45,550,885  
     

 

 

  
   $ 45,550,885  
     

 

 

  

Textiles, Apparel & Luxury Goods — 2.4%

 

NIKE, Inc., Class B

      85,499      $ 12,095,543  

PVH Corp.

      37,485        3,519,467  
     

 

 

  
   $ 15,615,010  
     

 

 

  

Total Common Stocks
(identified cost $382,824,666)

 

    $ 661,908,673  
     

 

 

  

 

4

 

 

                                                 

Short-Term Investments — 0.9%

 

Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.11%(3)

      5,777,197      $ 5,777,197  
     

 

 

  

Total Short-Term Investments
(identified cost $5,777,197)

 

    $ 5,777,197  
     

 

 

  

Total Investments — 100.7%
(identified cost $388,601,863)

       $ 667,685,870  
     

 

 

  

Total Written Covered Call Options — (0.6)%
(premiums received $5,785,277)

       $ (4,210,020 ) 
     

 

 

  

Other Assets, Less Liabilities — (0.1)%

       $ (355,636 ) 
     

 

 

  

Net Assets — 100.0%

       $ 663,120,214  
     

 

 

  

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 December 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 December 31, 2020.

 

5

 

 

Written Covered Call Options — (0.6)%

Exchange-Traded Options — (0.6)%

 

                                                                                                                            
Description   

Number of

Contracts

     

Notional

Amount

     

Exercise

Price

     

Expiration

Date

      Value  

Abbott Laboratories

      630      $ 6,897,870      $ 115        2/19/21      $ (121,275 ) 

Accenture PLC, Class A

      275        7,183,275        275        2/19/21        (82,500 ) 

Alphabet, Inc., Class C

      50        8,759,400        1,820        1/15/21        (56,000 ) 

Amazon.com, Inc.

      55        17,913,115        3,600        1/29/21        (162,800 ) 

American Express Co.

      205        2,478,655        130        1/15/21        (7,687 ) 

American Tower Corp.

      135        3,030,210        250        1/15/21        (1,012 ) 

Apple, Inc.

      1,725        22,889,025        135        1/15/21        (447,638 ) 

AvalonBay Communities, Inc.

      110        1,764,730        180        1/15/21        (1,100 ) 

Bank of America Corp.

      2,745        8,320,095        30        1/15/21        (255,285 ) 

Best Buy Co., Inc.

      265        2,644,435        135        1/15/21        (1,192 ) 

Caterpillar, Inc.

      165        3,003,330        185        1/15/21        (45,870 ) 

Chevron Corp.

      345        2,913,525        100        2/19/21        (22,253 ) 

Cisco Systems, Inc.

      660        2,953,500        45        1/15/21        (33,990 ) 

ConocoPhillips

      380        1,519,620        45        1/15/21        (8,550 ) 

Constellation Brands, Inc., Class A

      105        2,300,025        215        1/15/21        (92,400 ) 

CSX Corp.

      760        6,897,000        98        2/19/21        (112,480 ) 

D.R. Horton, Inc.

      240        1,654,080        83        1/15/21        (2,640 ) 

Danaher Corp.

      320        7,108,480        240        1/15/21        (17,600 ) 

Eaton Corp. PLC

      585        7,028,190        120        1/15/21        (149,175 ) 

EOG Resources, Inc.

      350        1,745,450        55        1/15/21        (16,275 ) 

Facebook, Inc., Class A

      255        6,965,580        300        1/15/21        (21,165 ) 

Fidelity National Information Services, Inc.

      275        3,890,150        155        1/15/21        (4,812 ) 

Franco-Nevada Corp.

      290        3,634,570        160        2/19/21        (8,700 ) 

General Motors Co.

      965        4,018,260        48        1/15/21        (10,132 ) 

GoDaddy, Inc., Class A

      405        3,359,475        88        1/15/21        (26,325 ) 

Goldman Sachs Group, Inc. (The)

      210        5,537,910        275        2/19/21        (159,600 ) 

Intuit, Inc.

      165        6,267,525        380        1/15/21        (126,225 ) 

Johnson Controls International PLC

      440        2,049,960        49        1/29/21        (18,700 ) 

JPMorgan Chase & Co.

      720        9,149,040        125        1/15/21        (273,600 ) 

Live Nation Entertainment, Inc.

      695        5,106,860        80        1/15/21        (33,013 ) 

Lowe’s Cos., Inc.

      310        4,975,810        165        1/15/21        (46,035 ) 

MetLife, Inc.

      635        2,981,325        53        1/15/21        (3,175 ) 

Micron Technology, Inc.

      415        3,119,970        68        1/15/21        (351,713 ) 

Microsoft Corp.

      1,020        22,686,840        240        1/29/21        (155,550 ) 

Mondelez International, Inc., Class A

      850        4,969,950        60        2/19/21        (100,725 ) 

Netflix, Inc.

      65        3,514,745        625        2/19/21        (63,538 ) 

NextEra Energy, Inc.

      785        6,056,275        80        1/15/21        (41,213 ) 

NIKE, Inc., Class B

      430        6,083,210        150        2/19/21        (89,440 ) 

PACCAR, Inc.

      410        3,537,480        94        1/15/21        (7,175 ) 

Palantir Technologies, Inc., Class A

      1,055        2,484,525        35        1/15/21        (15,297 ) 

PepsiCo, Inc.

      340        5,042,200        150        1/15/21        (43,690 ) 

Phillips 66

      210        1,468,740        68        1/15/21        (80,850 ) 

Procter & Gamble Co. (The)

      530        7,374,420        145        2/19/21        (87,980 ) 

Progressive Corp. (The)

      555        5,487,840        100        1/15/21        (30,525 ) 

PVH Corp.

      185        1,736,965        105        1/15/21        (13,412 ) 

Rio Tinto PLC ADR

      545        4,099,490        78        1/15/21        (43,600 ) 

Sempra Energy

      250        3,185,250        140        1/15/21        (3,750 ) 

 

6

 

 

                                                                                                                            
Description   

Number of

Contracts

     

Notional

Amount

     

Exercise

Price

     

Expiration

Date

      Value  

Starbucks Corp.

      425      $ 4,546,650      $ 105        1/15/21      $ (138,125 ) 

Texas Instruments, Inc.

      445        7,303,785        170        1/15/21        (44,945 ) 

Thermo Fisher Scientific, Inc.

      125        5,822,250        500        1/15/21        (11,875 ) 

Twitter, Inc.

      400        2,166,000        60        1/29/21        (32,800 ) 

UnitedHealth Group, Inc.

      215        7,539,620        370        1/15/21        (44,935 ) 

Verizon Communications, Inc.

      1,245        7,314,375        63        2/19/21        (34,860 ) 

Vertex Pharmaceuticals, Inc.

      205        4,844,970        250        1/15/21        (50,225 ) 

Visa, Inc., Class A

      400        8,749,200        220        1/22/21        (185,000 ) 

Walmart, Inc.

      415        5,982,225        160        1/15/21        (2,905 ) 

Walt Disney Co. (The)

      120        2,174,160        180        2/19/21        (118,800 ) 

Wells Fargo & Co.

      1,000        3,018,000        33        1/15/21        (31,500 ) 

Zoetis, Inc.

      345        5,709,750        175        1/15/21        (16,388 ) 
              

 

 

  

Total

 

    $ (4,210,020 ) 
              

 

 

  

Abbreviations:

 

ADR

   -   American Depositary Receipt

 

7

 

 

At December 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.

 

8

 

 

At December 31, 2020, the value of the Fund’s investment in affiliated funds was $5,777,197, which represents 0.9% of the Fund’s net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended December 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

    $ 4,588,342      $ 27,287,978      $ (26,099,123 )    $ —      $ —      $ 5,777,197      $ 1,475        5,777,197  

 

9

 

 

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.

 

10

 

 

At December 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            

Communication Services

    $ 72,415,769      $ —      $ —      $ 72,415,769  

Consumer Discretionary

      89,009,268        —        —        89,009,268  

Consumer Staples

      51,108,355        —        —        51,108,355  

Energy

      15,177,911        —        —        15,177,911  

Financials

      73,436,508        —        —        73,436,508  

Health Care

      75,749,650        8,412,336        —        84,161,986  

Industrials

      44,704,437        —        —        44,704,437  

Information Technology

      180,008,621        —        —        180,008,621  

Materials

      15,231,414        —        —        15,231,414  

Real Estate

      14,825,773        —        —        14,825,773  

Utilities

      21,828,631        —        —        21,828,631  

Total Common Stocks

    $ 653,496,337      $ 8,412,336 *     $ —      $ 661,908,673  

Short-Term Investments

    $ —      $ 5,777,197      $ —      $ 5,777,197  

Total Investments

    $       653,496,337      $       14,189,533      $         —      $       667,685,870  
Liability Description                                

Written Covered Call Options

    $ (4,210,020 )     $ —      $ —      $ (4,210,020 ) 

Total

    $ (4,210,020 )     $ —      $ —      $ (4,210,020 ) 

 

*

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.

 

11

 

 

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.

 

12