NPORT-EX 2 NPORT_FH9K_96388005_1221.htm html

Eaton Vance

Enhanced Equity Income Fund

December 31, 2021

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 99.7%(1)

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 0.6%

 

Huntington Ingalls Industries, Inc.

      25,761      $ 4,810,609  
     

 

 

  
   $ 4,810,609  
     

 

 

  

Automobiles — 2.4%

 

General Motors Co.(2)

      176,283      $ 10,335,472  

Tesla, Inc.(2)

      8,377        8,852,646  
     

 

 

  
   $ 19,188,118  
     

 

 

  

Banks — 7.0%

 

Bank of America Corp.

      351,323      $ 15,630,360  

JPMorgan Chase & Co.

      130,034        20,590,884  

M&T Bank Corp.

      38,764        5,953,375  

Wells Fargo & Co.

      269,883        12,948,987  
     

 

 

  
   $ 55,123,606  
     

 

 

  

Beverages — 1.7%

 

PepsiCo, Inc.

      75,239      $ 13,069,767  
     

 

 

  
   $ 13,069,767  
     

 

 

  

Building Products — 1.3%

 

Johnson Controls International PLC

      125,127      $ 10,174,076  
     

 

 

  
   $ 10,174,076  
     

 

 

  

Capital Markets — 2.8%

 

Charles Schwab Corp. (The)

      136,167      $ 11,451,645  

Goldman Sachs Group, Inc. (The)

      26,988        10,324,259  
     

 

 

  
   $ 21,775,904  
     

 

 

  

Chemicals — 1.1%

 

FMC Corp.

      76,220      $ 8,375,816  
     

 

 

  
   $ 8,375,816  
     

 

 

  

Containers & Packaging — 0.8%

 

Packaging Corp. of America

      44,625      $ 6,075,694  
     

 

 

  
   $ 6,075,694  
     

 

 

  

Electric Utilities — 1.3%

 

NextEra Energy, Inc.

      108,034      $ 10,086,054  
     

 

 

  
   $ 10,086,054  
     

 

 

  

Electrical Equipment — 2.5%

 

AMETEK, Inc.

      45,693      $ 6,718,699  

Eaton Corp. PLC

      76,976        13,302,992  
     

 

 

  
   $ 20,021,691  
     

 

 

  

Entertainment — 3.8%

 

Live Nation Entertainment, Inc.(2)

      73,604      $ 8,809,663  

Netflix, Inc.(2)

      18,587        11,197,552  

 

1

 

 

                                                 
Security    Shares      Value  

Walt Disney Co. (The)(2)

      61,780      $ 9,569,104  
     

 

 

  
   $ 29,576,319  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 3.1%

 

EastGroup Properties, Inc.

      63,728      $ 14,520,425  

Mid-America Apartment Communities, Inc.

      41,709        9,569,713  
     

 

 

  
   $ 24,090,138  
     

 

 

  

Food Products — 1.3%

 

Mondelez International, Inc., Class A

      151,614      $ 10,053,524  
     

 

 

  
   $ 10,053,524  
     

 

 

  

Health Care Equipment & Supplies — 1.4%

 

Intuitive Surgical, Inc.(2)

      29,847      $ 10,724,027  
     

 

 

  
   $ 10,724,027  
     

 

 

  

Health Care Providers & Services — 2.4%

 

UnitedHealth Group, Inc.

      37,805      $ 18,983,403  
     

 

 

  
   $ 18,983,403  
     

 

 

  

Hotels, Restaurants & Leisure — 2.5%

 

Hilton Worldwide Holdings, Inc.(2)

      54,082      $ 8,436,251  

Starbucks Corp.

      94,362        11,037,523  
     

 

 

  
   $ 19,473,774  
     

 

 

  

Household Products — 2.1%

 

Procter & Gamble Co. (The)

      101,444      $ 16,594,210  
     

 

 

  
   $ 16,594,210  
     

 

 

  

Insurance — 0.9%

 

American International Group, Inc.

      123,617      $ 7,028,863  
     

 

 

  
   $ 7,028,863  
     

 

 

  

Interactive Media & Services — 5.3%

 

Alphabet, Inc., Class C(2)

      14,244      $ 41,216,296  
     

 

 

  
   $ 41,216,296  
     

 

 

  

Internet & Direct Marketing Retail — 5.1%

 

Amazon.com, Inc.(2)

      11,870      $ 39,578,616  
     

 

 

  
   $ 39,578,616  
     

 

 

  

IT Services — 3.4%

 

Accenture PLC, Class A

      46,155      $ 19,133,555  

Amadeus IT Group S.A.(2)

      60,236        4,075,823  

Visa, Inc., Class A

      14,178        3,072,514  
     

 

 

  
   $ 26,281,892  
     

 

 

  

Life Sciences Tools & Services — 5.6%

 

Charles River Laboratories International, Inc.(2)

      16,317      $ 6,147,919  

Danaher Corp.

      49,062        16,141,889  

Thermo Fisher Scientific, Inc.

      19,486        13,001,839  

Waters Corp.(2)

      22,480        8,376,048  
     

 

 

  
   $ 43,667,695  
     

 

 

  

Machinery — 1.4%

 

Caterpillar, Inc.

      25,831      $ 5,340,301  

PACCAR, Inc.

      65,581        5,788,179  
     

 

 

  
   $ 11,128,480  
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Oil, Gas & Consumable Fuels — 3.5%

 

Chevron Corp.

      96,704      $ 11,348,214  

EOG Resources, Inc.

      113,899        10,117,648  

Pioneer Natural Resources Co.

      31,968        5,814,340  
     

 

 

  
   $ 27,280,202  
     

 

 

  

Pharmaceuticals — 3.9%

 

Eli Lilly & Co.

      58,196      $ 16,074,899  

Pfizer, Inc.

      105,443        6,226,409  

Zoetis, Inc.

      34,562        8,434,165  
     

 

 

  
   $ 30,735,473  
     

 

 

  

Road & Rail — 2.1%

 

CSX Corp.

      431,811      $ 16,236,094  
     

 

 

  
   $ 16,236,094  
     

 

 

  

Semiconductors & Semiconductor Equipment — 6.1%

 

Micron Technology, Inc.

      100,015      $ 9,316,397  

NVIDIA Corp.

      38,763        11,400,586  

QUALCOMM, Inc.

      64,506        11,796,212  

Texas Instruments, Inc.

      81,557        15,371,048  
     

 

 

  
   $ 47,884,243  
     

 

 

  

Software — 10.9%

 

Adobe, Inc.(2)

      9,078      $ 5,147,771  

Intuit, Inc.

      24,286        15,621,241  

Microsoft Corp.

      192,598        64,774,559  
     

 

 

  
   $ 85,543,571  
     

 

 

  

Specialty Retail — 2.1%

 

Best Buy Co., Inc.

      33,264      $ 3,379,622  

Lowe’s Cos., Inc.

      49,753        12,860,156  
     

 

 

  
   $ 16,239,778  
     

 

 

  

Technology Hardware, Storage & Peripherals — 7.5%

 

Apple, Inc.

      328,765      $ 58,378,801  
     

 

 

  
   $ 58,378,801  
     

 

 

  

Textiles, Apparel & Luxury Goods — 2.7%

 

Capri Holdings, Ltd.(2)

      112,270      $ 7,287,446  

NIKE, Inc., Class B

      81,147        13,524,770  
     

 

 

  
   $ 20,812,216  
     

 

 

  

Tobacco — 1.1%

 

Philip Morris International, Inc.

      91,878      $ 8,728,410  
     

 

 

  
   $ 8,728,410  
     

 

 

  

Total Common Stocks
(identified cost $412,166,033)

 

    $ 778,937,360  
     

 

 

  

Short-Term Investments — 0.8%

 

Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.08%(3)

      6,321,757      $ 6,321,125  
     

 

 

  

Total Short-Term Investments
(identified cost $6,321,125)

 

    $ 6,321,125  
     

 

 

  

 

3

 

 

                                                 
Description          Value  

Total Investments — 100.5%
(identified cost $418,487,158)

    $ 785,258,485  
     

 

 

  

Total Written Covered Call Options — (0.5)%
(premiums received $4,965,848)

    $ (3,760,193 ) 
     

 

 

  

Other Assets, Less Liabilities — (0.0)%(4)

    $ (91,108 ) 
     

 

 

  

Net Assets — 100.0%

    $ 781,407,184  
     

 

 

  

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, 2021 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, 2021.

 

(4)

Amount is less than (0.05)%.

Written Covered Call Options — (0.5)%

Exchange-Traded Options — (0.5)%

 

                                                                                                                            
Description   

Number of

Contracts

     

Notional

Amount

     

Exercise

Price

     

Expiration

Date

      Value  
                                    

Accenture PLC, Class A

      230      $ 9,534,650      $ 425        1/21/22      $ (73,600 ) 

Adobe, Inc.

      45        2,551,770        590        1/21/22        (25,875 ) 

Alphabet, Inc., Class C

      70        20,255,130        3,050        1/28/22        (99,750 ) 

Amazon.com, Inc.

      55        18,338,870        3,550        1/14/22        (46,750 ) 

American International Group, Inc.

      615        3,496,890        57        1/21/22        (74,415 ) 

AMETEK, Inc.

      225        3,308,400        150        1/21/22        (31,500 ) 

Apple, Inc.

      1,640        29,121,480        185        1/14/22        (173,020 ) 

Bank of America Corp.

      1,755        7,807,995        47        1/21/22        (64,935 ) 

Best Buy Co., Inc.

      165        1,676,400        104        1/21/22        (28,215 ) 

Capri Holdings, Ltd.

      510        3,310,410        71        1/14/22        (26,520 ) 

Caterpillar, Inc.

      125        2,584,250        210        1/14/22        (27,250 ) 

Charles River Laboratories International, Inc.

      80        3,014,240        380        1/21/22        (69,200 ) 

Charles Schwab Corp. (The)

      680        5,718,800        84        1/14/22        (118,660 ) 

Chevron Corp.

      480        5,632,800        120        1/21/22        (54,480 ) 

CSX Corp.

      2,155        8,102,800        38        1/7/22        (53,875 ) 

Danaher Corp.

      245        8,060,745        330        1/21/22        (180,075 ) 

Eaton Corp. PLC

      380        6,567,160        180        1/7/22        (14,250 ) 

EOG Resources, Inc.

      565        5,018,895        93        1/28/22        (98,310 ) 

General Motors Co.

      880        5,159,440        63        1/14/22        (27,720 ) 

Goldman Sachs Group, Inc. (The)

      130        4,973,150        400        1/21/22        (39,975 ) 

Hilton Worldwide Holdings, Inc.

      270        4,211,730        155        1/21/22        (129,600 ) 

Huntington Ingalls Industries, Inc.

      125        2,334,250        195        1/21/22        (21,250 ) 

Intuit, Inc.

      120        7,718,640        660        1/21/22        (102,600 ) 

 

4

 

 

                                                                                                                            
Description   

Number of

Contracts

     

Notional

Amount

     

Exercise

Price

     

Expiration

Date

      Value  
                                    

Intuitive Surgical, Inc.

      145      $ 5,209,850      $ 390        1/28/22      $ (76,488 ) 

Johnson Controls International PLC

      625        5,081,875        83        1/28/22        (67,188 ) 

JPMorgan Chase & Co.

      650        10,292,750        165        1/28/22        (71,500 ) 

Live Nation Entertainment, Inc.

      365        4,368,685        120        1/21/22        (171,550 ) 

Lowe’s Cos., Inc.

      245        6,332,760        260        1/21/22        (97,388 ) 

M&T Bank Corp.

      190        2,918,020        155        1/21/22        (62,700 ) 

Micron Technology, Inc.

      500        4,657,500        100        1/28/22        (69,000 ) 

Microsoft Corp.

      960        32,286,720        340        1/14/22        (345,600 ) 

Mid-America Apartment Communities, Inc.

      205        4,703,520        230        1/21/22        (70,725 ) 

Mondelez International, Inc., Class A

      755        5,006,405        68        1/21/22        (26,425 ) 

Netflix, Inc.

      90        5,421,960        650        1/7/22        (4,500 ) 

NextEra Energy, Inc.

      540        5,041,440        95        1/21/22        (48,600 ) 

NIKE, Inc., Class B

      405        6,750,135        175        1/28/22        (42,322 ) 

NVIDIA Corp.

      190        5,588,090        325        1/7/22        (9,500 ) 

PACCAR, Inc.

      325        2,868,450        89        1/21/22        (47,937 ) 

Packaging Corp. of America

      220        2,995,300        140        1/21/22        (18,700 ) 

PepsiCo, Inc.

      375        6,514,125        175        1/21/22        (59,437 ) 

Pfizer, Inc.

      525        3,100,125        65        1/21/22        (19,162 ) 

Philip Morris International, Inc.

      455        4,322,500        95        1/21/22        (67,113 ) 

Pioneer Natural Resources Co.

      155        2,819,140        195        1/28/22        (39,912 ) 

Procter & Gamble Co. (The)

      505        8,260,790        170        2/4/22        (42,925 ) 

QUALCOMM, Inc.

      320        5,851,840        190        1/21/22        (70,880 ) 

Starbucks Corp.

      470        5,497,590        121        1/14/22        (21,620 ) 

Tesla, Inc.

      40        4,227,120        1,060        1/14/22        (189,000 ) 

Texas Instruments, Inc.

      405        7,633,035        205        1/7/22        (2,835 ) 

Thermo Fisher Scientific, Inc.

      95        6,338,780        690        1/21/22        (59,850 ) 

UnitedHealth Group, Inc.

      185        9,289,590        525        2/4/22        (95,738 ) 

Visa, Inc., Class A

      70        1,516,970        220        1/14/22        (14,770 ) 

Walt Disney Co. (The)

      305        4,724,145        160        1/7/22        (13,115 ) 

Waters Corp.

      75        2,794,500        370        1/21/22        (81,750 ) 

Wells Fargo & Co.

      1,345        6,453,310        51        1/28/22        (63,888 ) 

Zoetis, Inc.

      170        4,148,510        240        1/21/22        (106,250 ) 
              

 

 

  

Total

 

    $ (3,760,193 ) 
              

 

 

  

Abbreviations:

 

ADR

   -   American Depositary Receipt

At December 31, 2021, 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 December 31, 2021, the value of the Fund’s investment in affiliated funds was $6,321,125, which represents 0.8% of the Fund’s net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended December 31, 2021 were as follows:

 

                                                                                                                                                                                                       

Name

    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

    $ 5,695,787      $ 37,661,656      $ (37,035,903 )    $ (415 )    $ —        $ 6,321,125      $ 758        6,321,757  

 

5

 

 

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 December 31, 2021, the hierarchy of inputs used in valuing the Fund’s investments and open derivatives, which are carried at value, were as follows:

 

Asset Description    Level 1      Level 2      Level 3      Total  

Common Stocks

            

Communication Services

    $ 70,792,615      $ —      $ —      $ 70,792,615  

Consumer Discretionary

      115,292,502        —        —        115,292,502  

Consumer Staples

      48,445,911        —        —        48,445,911  

Energy

      27,280,202        —        —        27,280,202  

Financials

      83,928,373        —        —        83,928,373  

Health Care

      104,110,598        —        —        104,110,598  

Industrials

      62,370,950        —        —        62,370,950  

Information Technology

      214,012,684        4,075,823        —        218,088,507  

Materials

      14,451,510        —        —        14,451,510  

Real Estate

      24,090,138        —        —        24,090,138  

Utilities

      10,086,054        —        —        10,086,054  

Total Common Stocks

    $ 774,861,537      $ 4,075,823 *     $ —      $ 778,937,360  

Short-Term Investments

    $ —      $ 6,321,125      $ —      $ 6,321,125  

Total Investments

    $     774,861,537      $     10,396,948      $ —      $     785,258,485  
Liability Description                  

Written Covered Call Options

    $ (3,760,193 )     $ —      $ —      $ (3,760,193 ) 

Total

    $ (3,760,193 )     $ —      $ —      $ (3,760,193 ) 

 

*

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.

 

6