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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
Quarterly Schedule of Portfolio Holdings of Registered
Management Investment Company
Investment Company Act file number: 811-21553
ING Global Equity Dividend and Premium Opportunity Fund
(Exact name of registrant as specified in charter)
|
7337 East Doubletree Ranch Rd., Scottsdale, AZ 85258 |
|
(Address of principal executive offices) (Zip code) |
Huey P. Falgout, Jr., 7337 East Doubletree Ranch Road, Scottsdale, AZ 85258
(Name and address of agent for service)
Registrant’s telephone number, including area code: 1-800-992-0180
|
Date of fiscal year end: |
February 28 |
|
|
|
|
Date of reporting period: |
May 31, 2008 |
Item 1. Schedule of Investments
The schedules of investments as of the close of the reporting period are set forth below for:
|
|
The schedules are not audited.
|
|
|
PORTFOLIO OF INVESTMENTS |
|
|
as of May 31, 2008 (Unaudited) |
|
Shares |
|
|
|
|
|
Value |
|
|
COMMON STOCK: 92.0% |
|
|
|||||
|
|
|
|
|
Australia: 6.6% |
|
|
|
|
1,202,344 |
|
|
|
Australia & New Zealand Banking Group Ltd. |
|
$ |
24,952,731 |
|
974,207 |
|
|
|
Crown Ltd. |
|
9,808,905 |
|
|
1,968,982 |
|
|
|
Foster’s Group Ltd. |
|
10,353,544 |
|
|
4,285,045 |
|
|
|
Insurance Australia Group |
|
16,485,538 |
|
|
1,112,625 |
|
|
|
Lion Nathan Ltd. |
|
10,277,164 |
|
|
4,412,214 |
|
|
|
Macquarie Airports Management Ltd. |
|
12,424,949 |
|
|
1,174,267 |
|
|
|
Suncorp-Metway Ltd. |
|
16,217,045 |
|
|
306,763 |
|
|
|
Wesfarmers Ltd. |
|
11,129,099 |
|
|
|
|
|
|
|
|
111,648,975 |
|
|
|
|
|
|
Austria: 0.6% |
|
|
|
|
410,974 |
|
|
|
Telekom Austria AG |
|
9,800,591 |
|
|
|
|
|
|
|
|
9,800,591 |
|
|
|
|
|
|
Belgium: 1.9% |
|
|
|
|
1,339,177 |
|
|
|
Fortis |
|
32,759,320 |
|
|
|
|
|
|
|
|
32,759,320 |
|
|
|
|
|
|
Bermuda: 0.6% |
|
|
|
|
2,138,893 |
|
|
|
Hiscox Ltd. |
|
10,069,253 |
|
|
|
|
|
|
|
|
10,069,253 |
|
|
|
|
|
|
Brazil: 0.6% |
|
|
|
|
400,669 |
|
|
|
Tele Norte Leste Participacoes SA ADR |
|
10,369,314 |
|
|
|
|
|
|
|
|
10,369,314 |
|
|
|
|
|
|
Canada: 1.6% |
|
|
|
|
214,783 |
|
|
|
Enerplus Resources Fund |
|
10,060,436 |
|
|
413,665 |
|
|
|
TransCanada Corp. |
|
16,303,464 |
|
|
|
|
|
|
|
|
26,363,900 |
|
|
|
|
|
|
Denmark: 1.6% |
|
|
|
|
771,931 |
|
|
|
Danske Bank A/S |
|
26,467,795 |
|
|
|
|
|
|
|
|
26,467,795 |
|
|
|
|
|
|
France: 8.1% |
|
|
|
|
237,530 |
|
|
|
BNP Paribas |
|
24,497,832 |
|
|
549,560 |
|
|
|
France Telecom SA |
|
16,293,868 |
|
|
335,655 |
|
|
|
Sanofi-Aventis |
|
25,025,569 |
|
|
384,529 |
|
|
|
Total SA |
|
33,171,806 |
|
|
166,508 |
|
|
|
Vinci SA |
|
12,545,914 |
|
|
607,184 |
|
|
|
Vivendi |
|
25,539,289 |
|
|
|
|
|
|
|
|
137,074,278 |
|
|
|
|
|
|
Greece: 1.0% |
|
|
|
|
407,359 |
|
|
|
OPAP SA |
|
17,616,481 |
|
|
|
|
|
|
|
|
17,616,481 |
|
|
|
|
|
|
Hong Kong: 1.6% |
|
|
|
|
1,202,222 |
|
|
|
CLP Holdings Ltd. |
|
10,861,909 |
|
|
830,546 |
|
|
|
Hang Seng Bank Ltd. |
|
16,850,820 |
|
|
|
|
|
|
|
|
27,712,729 |
|
|
|
|
|
|
Hungary: 0.7% |
|
|
|
|
484,661 |
|
|
|
Magyar Telekom Telecommunications PLC ADR |
|
11,975,973 |
|
|
|
|
|
|
|
|
11,975,973 |
|
|
|
|
|
|
Ireland: 0.9% |
|
|
|
|
822,353 |
|
|
|
Allied Irish Banks PLC |
|
16,149,427 |
|
|
|
|
|
|
|
|
16,149,427 |
|
|
|
|
|
|
Israel: 1.0% |
|
|
|
|
3,453,316 |
|
|
|
Bank Hapoalim BM |
|
17,674,704 |
|
|
|
|
|
|
|
|
17,674,704 |
|
|
|
|
|
|
Italy: 11.4% |
|
|
|
|
2,981,574 |
|
|
|
Enel S.p.A. |
|
33,238,168 |
|
|
825,720 |
|
|
|
ENI S.p.A. |
|
33,281,024 |
|
|
4,005,496 |
|
|
|
Intesa Sanpaolo S.p.A. |
|
26,282,704 |
|
|
670,854 |
|
|
|
Italcementi S.p.A. RNC |
|
9,692,978 |
|
|
2,518,222 |
|
|
|
Mediaset S.p.A. |
|
20,538,455 |
|
|
379,489 |
|
|
|
Pirelli & C Real Estate S.p.A. |
|
9,617,361 |
|
|
18,935,239 |
|
|
|
Telecom Italia S.p.A. RNC |
|
33,122,829 |
|
|
3,824,470 |
|
|
|
UniCredito Italiano S.p.A. |
|
26,754,660 |
|
|
|
|
|
|
|
|
192,528,179 |
|
|
|
|
|
|
Netherlands: 2.3% |
|
|
|
|
144,417 |
|
|
|
Randstad Holdings NV |
|
6,295,027 |
|
|
769,614 |
|
|
|
Royal Dutch Shell PLC |
|
32,858,953 |
|
|
|
|
|
|
|
|
39,153,980 |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2008 (Unaudited) (continued) |
|
Shares |
|
|
|
|
|
Value |
|
|
|
|
|
|
New Zealand: 1.0% |
|
|
|
|
5,347,972 |
|
|
|
Telecom Corp. of New Zealand Ltd. |
|
$ |
16,897,097 |
|
|
|
|
|
|
|
16,897,097 |
|
|
|
|
|
|
Singapore: 0.6% |
|
|
|
|
695,000 |
|
|
|
DBS Group Holdings Ltd. |
|
9,948,794 |
|
|
|
|
|
|
|
|
9,948,794 |
|
|
|
|
|
|
South Korea: 0.6% |
|
|
|
|
146,318 |
|
|
|
S-Oil Corp. |
|
10,506,643 |
|
|
|
|
|
|
|
|
10,506,643 |
|
|
|
|
|
|
Spain: 2.0% |
|
|
|
|
807,226 |
|
|
|
Banco Santander Central Hispano SA |
|
16,838,769 |
|
|
571,421 |
|
|
|
Telefonica SA |
|
16,385,218 |
|
|
|
|
|
|
|
|
33,223,987 |
|
|
|
|
|
|
Sweden: 2.0% |
|
|
|
|
487,822 |
|
|
|
Holmen AB |
|
16,642,488 |
|
|
1,814,515 |
|
|
|
TeliaSonera AB |
|
16,493,553 |
|
|
|
|
|
|
|
|
33,136,041 |
|
|
|
|
|
|
Taiwan: 1.0% |
|
|
|
|
1,491,582 |
|
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. ADR |
|
17,078,614 |
|
|
|
|
|
|
|
|
17,078,614 |
|
|
|
|
|
|
Thailand: 0.6% |
|
|
|
|
1,512,900 |
|
|
|
Siam Cement PCL |
|
9,591,928 |
|
|
|
|
|
|
|
|
9,591,928 |
|
|
|
|
|
|
United Kingdom: 15.8% |
|
|
|
|
572,392 |
|
|
|
AstraZeneca PLC |
|
24,985,900 |
|
|
2,721,760 |
|
|
|
Aviva PLC |
|
34,013,996 |
|
|
4,556,135 |
|
|
|
BBA Aviation PLC |
|
12,945,842 |
|
|
2,074,885 |
|
|
|
BP PLC |
|
24,551,555 |
|
|
2,265,138 |
|
|
|
Brit Insurance Holdings PLC |
|
9,727,759 |
|
|
437,399 |
|
|
|
British American Tobacco PLC |
|
16,368,844 |
|
|
660,316 |
|
|
|
DSG International PLC |
|
7,348,080 |
|
|
1,126,686 |
|
|
|
GlaxoSmithKline PLC |
|
24,952,345 |
|
|
600,076 |
|
|
|
HSBC Holdings PLC |
|
10,124,050 |
|
|
3,380,918 |
|
|
|
Lloyds TSB Group PLC |
|
25,744,892 |
|
|
1,322,688 |
|
|
|
Marks & Spencer Group PLC |
|
9,799,416 |
|
|
3,547,386 |
|
|
|
Royal Bank of Scotland Group PLC |
|
16,078,108 |
|
|
2,639,665 |
|
|
|
Tate & Lyle PLC |
|
24,256,410 |
|
|
1,854,204 |
|
|
|
United Utilities PLC |
|
27,520,388 |
|
|
|
|
|
|
|
|
268,417,585 |
|
|
|
|
|
|
United States: 27.9% |
|
|
|
|
444,444 |
|
|
|
Altria Group, Inc. |
|
9,893,323 |
|
|
362,888 |
|
|
|
Ameren Corp. |
|
16,493,260 |
|
|
681,158 |
|
|
|
AT&T, Inc. |
|
27,178,204 |
|
|
482,855 |
|
|
|
Bank of America Corp. |
|
16,421,899 |
|
|
1,130,505 |
|
|
|
Bristol-Myers Squibb Co. |
|
25,764,209 |
|
|
321,735 |
|
|
|
Carnival Corp. |
|
12,888,704 |
|
|
1,157,625 |
|
|
|
Citigroup, Inc. |
|
25,340,411 |
|
|
909,532 |
|
|
|
Citizens Communications Co. |
|
10,605,143 |
|
|
399,304 |
|
|
|
Consolidated Edison, Inc. |
|
16,491,255 |
|
|
650,926 |
|
|
|
Dow Chemical Co. |
|
26,297,410 |
|
|
901,506 |
|
|
|
Duke Energy Corp. |
|
16,659,831 |
|
|
675,636 |
|
|
|
Foot Locker, Inc. |
|
9,871,042 |
|
|
540,784 |
|
|
|
General Electric Co. |
|
16,612,884 |
|
|
511,931 |
|
|
|
Kraft Foods, Inc. |
|
16,627,519 |
|
|
885,451 |
|
|
|
Leggett & Platt, Inc. |
|
16,912,114 |
|
|
918,667 |
|
|
|
Masco Corp. |
|
17,032,086 |
|
|
388,647 |
|
|
|
MeadWestvaco Corp. |
|
9,999,887 |
|
|
637,670 |
|
|
|
Merck & Co., Inc. |
|
24,843,623 |
|
|
502,780 |
|
|
|
Newell Rubbermaid, Inc. |
|
10,095,822 |
|
|
489,773 |
|
|
|
OGE Energy Corp. |
|
16,431,884 |
|
|
1,344,869 |
|
|
|
Pfizer, Inc. |
|
26,036,664 |
|
|
318,343 |
|
@ |
|
Philip Morris International, Inc. |
|
16,763,942 |
|
|
459,078 |
|
|
|
Southern Co. |
|
16,618,624 |
|
|
362,996 |
|
|
|
Spectra Energy Corp. |
|
9,808,152 |
|
|
749,881 |
|
|
|
US Bancorp. |
|
24,888,550 |
|
|
302,496 |
|
|
|
UST, Inc. |
|
16,706,854 |
|
|
827,653 |
|
|
|
Wachovia Corp. |
|
19,698,141 |
|
|
|
|
|
|
|
|
472,981,437 |
|
|
|
|
|
|
Total Common Stock |
|
|
|
|
|
|
|
|
(Cost $1,604,417,948) |
|
1,559,147,025 |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2008 (Unaudited) (continued) |
|
Shares |
|
|
|
|
|
Value |
|
|
REAL ESTATE INVESTMENT TRUSTS: 2.4% |
|
|
|||||
|
|
|
|
|
Australia: 0.6% |
|
|
|
|
599,386 |
|
|
|
Westfield Group |
|
$ |
9,785,642 |
|
|
|
|
|
|
|
9,785,642 |
|
|
|
|
|
|
Netherlands: 0.6% |
|
|
|
|
113,952 |
|
|
|
Corio NV |
|
9,990,516 |
|
|
|
|
|
|
|
|
9,990,516 |
|
|
|
|
|
|
United States: 1.2% |
|
|
|
|
318,181 |
|
|
|
Hospitality Properties Trust |
|
9,863,611 |
|
|
231,935 |
|
|
|
Rayonier, Inc. |
|
11,007,635 |
|
|
|
|
|
|
|
|
20,871,246 |
|
|
|
|
|
|
Total Real Estate Investment Trusts |
|
|
|
|
|
|
|
|
(Cost $40,384,346) |
|
40,647,404 |
|
|
RIGHTS: 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
United Kingdom: 0.1% |
|
|
|
|
2,167,847 |
|
|
|
Royal Bank of Scotland Group PLC |
|
1,202,403 |
|
|
|
|
|
|
Total Rights |
|
|
|
|
|
|
|
|
(Cost $-) |
|
1,202,403 |
|
|
# of |
|
Counterparty |
|
|
|
Value |
||
|
PURCHASED PUT OPTIONS: 0.5% |
|
|
||||||
|
|
|
|
|
Australia: 0.1% |
|
|
||
|
6,000 |
|
Morgan Stanley |
|
S&P/ASX 200 Index, Strike Price 4,586.625 AUD, Expires 06/20/08 |
|
$ |
16,441 |
|
|
3,400 |
|
Morgan Stanley |
|
S&P/ASX 200 Index, Strike Price 5,114.200 AUD, Expires 07/18/08 |
|
169,437 |
||
|
4,100 |
|
Goldman Sachs |
|
S&P/ASX 200 Index, Strike Price 5,388.040 AUD, Expires 08/15/08 |
|
586,113 |
||
|
21,000,000 |
|
Goldman Sachs |
|
Australian Dollar Currency Option (AUD/USD), Strike Price .8571, Expires 06/18/08 |
|
— |
||
|
23,000,000 |
|
CitiGroup |
|
Australian Dollar Currency Option (AUD/USD), Strike Price .8902, Expires 07/23/08 |
|
11,002 |
||
|
25,000,000 |
|
Citibank |
|
Australian Dollar Currency Option (AUD/USD), Strike Price .9040, Expires 08/20/08 |
|
85,644 |
||
|
|
|
|
|
|
|
868,637 |
||
|
|
|
|
|
European Union: 0.2% |
|
|
||
|
17,000 |
|
Goldman Sachs |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 3,255.300 EUR, Expires 06/20/08 |
|
38,391 |
||
|
17,800 |
|
Morgan Stanley |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 3,419.180 EUR, Expires 07/18/08 |
|
578,169 |
||
|
17,400 |
|
ABN AMRO |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 3,576.780 EUR, Expires 08/15/08 |
|
2,375,935 |
||
|
95,000,000 |
|
Deutsche Bank |
|
European Union Currency Option (EUR/USD), Strike Price 1.4932, Expires 06/18/08 |
|
14,343 |
||
|
100,000,000 |
|
UBS |
|
European Union Currency Option (EUR/USD), Strike Price 1.5155, Expires 07/23/08 |
|
431,179 |
||
|
95,000,000 |
|
Goldman Sachs |
|
European Union Currency Option (EUR/USD), Strike Price 1.5066, Expires 08/20/08 |
|
575,733 |
||
|
|
|
|
|
|
|
4,013,750 |
||
|
|
|
|
|
United Kingdom: 0.1% |
|
|
||
|
4,500 |
|
Morgan Stanley |
|
FTSE 100 Index, Strike Price 5,135.850 GBP, Expires 06/20/08 |
|
14,911 |
||
|
3,700 |
|
JPMorgan Chase, London |
|
FTSE 100 Index, Strike Price 5,574.058 GBP, Expires 07/18/08 |
|
451,463 |
||
|
5,500 |
|
Goldman Sachs |
|
FTSE 100 Index, Strike Price 5,821.760 GBP, Expires 08/15/08 |
|
1,613,437 |
||
|
52,500,000 |
|
Goldman Sachs |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.9091, Expires 06/18/08 |
|
2,609 |
||
|
62,500,000 |
|
Goldman Sachs |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.8902, Expires 07/23/08 |
|
33,344 |
||
|
55,000,000 |
|
UBS |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.8925, Expires 08/20/08 |
|
104,170 |
||
|
|
|
|
|
|
|
2,219,934 |
||
|
|
|
|
|
United States: 0.1% |
|
|
||
|
70,000 |
|
Goldman Sachs |
|
S&P 500 Index, Strike Price 1,165.730 USD, Expires 06/20/08 |
|
16,471 |
||
|
67,600 |
|
Morgan Stanley |
|
S&P 500 Index, Strike Price 1,274.890 USD, Expires 07/18/08 |
|
510,158 |
||
|
72,000 |
|
Societe Generale |
|
S&P 500 Index, Strike Price 1,306.310 USD, Expires 08/15/08 |
|
1,432,842 |
||
|
|
|
|
|
|
|
1,959,471 |
||
|
|
|
|
|
Total Purchased Put Options |
|
|
||
|
|
|
|
|
(Cost $19,593,392) |
|
9,061,792 |
||
|
|
|
|
|
Total Investments in Securities |
|
|
||
|
|
|
|
|
(Cost $1,664,395,686)* |
95.0% |
|
$ |
1,610,058,624 |
|
|
|
|
|
Other Assets and Liabilities — Net |
5.0 |
|
84,142,830 |
|
|
|
|
|
|
Net Assets |
100.0% |
|
$ |
1,694,201,454 |
|
|
|
|
|
|
|
|
||
|
|
|
@ |
|
Non-income producing security |
|
|
||
|
|
|
ADR |
|
American Depositary Receipt |
|
|
||
|
|
|
* |
|
Cost for federal income tax purposes is $1,681,965,145. |
|
|
||
|
|
|
|
|
Net unrealized depreciation consists of: |
|
|
||
|
|
|
|
|
Gross Unrealized Appreciation |
|
$ |
95,994,757 |
|
|
|
|
|
|
Gross Unrealized Depreciation |
|
(167,901,278) |
||
|
|
|
|
|
Net Unrealized Depreciation |
|
$ |
(71,906,521) |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2008 (Unaudited) (continued) |
|
|
|
Percentage of |
|
Industry |
|
Net Assets |
|
Aerospace/Defense |
|
0.8% |
|
Agriculture |
|
3.5 |
|
Banks |
|
21.8 |
|
Beverages |
|
1.2 |
|
Building Materials |
|
2.1 |
|
Chemicals |
|
1.6 |
|
Commercial Services |
|
0.4 |
|
Diversified |
|
0.6 |
|
Diversified Financial Services |
|
1.5 |
|
Electric |
|
7.5 |
|
Engineering & Construction |
|
1.5 |
|
Entertainment |
|
1.0 |
|
Food |
|
2.4 |
|
Forest Products & Paper |
|
2.2 |
|
Hotels |
|
0.6 |
|
Housewares |
|
0.6 |
|
Insurance |
|
4.2 |
|
Leisure Time |
|
0.8 |
|
Lodging |
|
0.6 |
|
Media |
|
2.7 |
|
Miscellaneous Manufacturing |
|
2.6 |
|
Oil & Gas |
|
8.5 |
|
Pharmaceuticals |
|
8.9 |
|
Pipelines |
|
1.5 |
|
Purchased Put Options |
|
0.5 |
|
Real Estate |
|
0.6 |
|
Retail |
|
1.6 |
|
Semiconductors |
|
1.0 |
|
Shopping Centers |
|
0.6 |
|
Telecommunications |
|
10.0 |
|
Water |
|
1.6 |
|
Other Assets and Liabilities - Net |
|
5.0 |
|
Net Assets |
|
100.0% |
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2008 (Unaudited) (continued) |
ING Global Equity Dividend and Premium Opportunity Fund May 31, 2008
Written Call Options
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
Premiums |
|
|
|||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
Received |
|
Value |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
581,000 |
|
Morgan Stanley |
|
Foster’s Group Ltd. |
|
07/09/08 |
|
5.2840 |
AUD |
|
$ |
146,785 |
|
$ |
(224,427) |
|
|
349,000 |
|
Goldman Sachs |
|
Suncorp-Metway Ltd. |
|
07/09/08 |
|
14.3000 |
AUD |
|
235,782 |
|
(260,781) |
|||
|
162,000 |
|
Morgan Stanley |
|
Wesfarmers Ltd. |
|
07/09/08 |
|
37.9000 |
AUD |
|
244,762 |
|
(253,043) |
|||
|
351,000 |
|
Goldman Sachs |
|
Westfield Group |
|
07/09/08 |
|
17.2500 |
AUD |
|
273,282 |
|
(243,551) |
|||
|
229,000 |
|
UBS AG, London |
|
Danske Bank A/S |
|
07/09/08 |
|
164.5250 |
DKK |
|
285,848 |
|
(307,710) |
|||
|
465,000 |
|
Goldman Sachs |
|
Banco Santander S.A. |
|
07/09/08 |
|
13.3301 |
EUR |
|
367,126 |
|
(368,366) |
|||
|
137,000 |
|
ABN AMRO |
|
BNP Paribas |
|
07/09/08 |
|
65.7600 |
EUR |
|
582,667 |
|
(601,566) |
|||
|
32,000 |
|
Deutsche Bank, AG |
|
Corio NV |
|
07/09/08 |
|
56.5770 |
EUR |
|
98,250 |
|
(107,547) |
|||
|
1,730,000 |
|
Goldman Sachs |
|
Enel S.p.A. |
|
07/09/08 |
|
6.8841 |
EUR |
|
532,989 |
|
(607,798) |
|||
|
470,000 |
|
Citibank, N.A., London |
|
ENI S.p.A. |
|
07/09/08 |
|
26.2000 |
EUR |
|
637,719 |
|
(631,364) |
|||
|
781,000 |
|
ABN AMRO |
|
Fortis |
|
07/09/08 |
|
15.6710 |
EUR |
|
752,434 |
|
(720,966) |
|||
|
309,000 |
|
JPMorgan Chase, London |
|
France Telecom S.A. |
|
07/09/08 |
|
19.5100 |
EUR |
|
343,999 |
|
(351,193) |
|||
|
2,381,000 |
|
UBS AG, London |
|
Intesa Sanpaolo |
|
07/09/08 |
|
4.1219 |
EUR |
|
492,850 |
|
(702,130) |
|||
|
742,000 |
|
BNP Paribas |
|
Mediaset S.p.A. |
|
07/09/08 |
|
5.1736 |
EUR |
|
235,157 |
|
(234,797) |
|||
|
67,000 |
|
BNP Paribas |
|
Randstad Holding N.V. |
|
07/09/08 |
|
27.3835 |
EUR |
|
125,170 |
|
(156,267) |
|||
|
456,000 |
|
UBS AG, London |
|
Royal Dutch Shell PLC |
|
07/09/08 |
|
27.8610 |
EUR |
|
685,538 |
|
(524,674) |
|||
|
200,000 |
|
Deutsche Bank, AG |
|
Sanofi-Aventis |
|
07/09/08 |
|
47.0328 |
EUR |
|
497,341 |
|
(699,771) |
|||
|
5,481,000 |
|
UBS AG, London |
|
Telecom Italia S.p.A. |
|
07/09/08 |
|
1.1160 |
EUR |
|
403,671 |
|
(537,840) |
|||
|
338,000 |
|
Morgan Stanley |
|
Telefonica S.A. |
|
07/09/08 |
|
18.3190 |
EUR |
|
308,679 |
|
(343,719) |
|||
|
114,000 |
|
JPMorgan Chase, London |
|
Telekom Austria AG |
|
07/09/08 |
|
15.6400 |
EUR |
|
121,645 |
|
(104,297) |
|||
|
219,000 |
|
Morgan Stanley |
|
Total S.A. |
|
07/09/08 |
|
56.3970 |
EUR |
|
649,388 |
|
(586,312) |
|||
|
2,283,000 |
|
Goldman Sachs |
|
UniCredit S.p.A. |
|
07/09/08 |
|
4.3220 |
EUR |
|
607,431 |
|
(985,734) |
|||
|
98,000 |
|
Societe Generale |
|
Vinci S.A. |
|
07/09/08 |
|
48.1099 |
EUR |
|
296,074 |
|
(341,111) |
|||
|
358,000 |
|
Morgan Stanley |
|
Vivendi |
|
07/09/08 |
|
26.3130 |
EUR |
|
449,616 |
|
(707,635) |
|||
|
340,000 |
|
Merrill Lynch |
|
AstraZeneca PLC |
|
07/09/08 |
|
21.8300 |
GBP |
|
557,509 |
|
(655,866) |
|||
|
1,175,000 |
|
Goldman Sachs |
|
BP PLC |
|
07/09/08 |
|
6.1748 |
GBP |
|
546,204 |
|
(487,858) |
|||
|
258,000 |
|
Deutsche Bank, AG |
|
British American Tobacco PLC |
|
07/09/08 |
|
19.2677 |
GBP |
|
361,428 |
|
(279,678) |
|||
|
661,000 |
|
Merrill Lynch |
|
GlaxoSmithKline PLC |
|
07/09/08 |
|
11.1000 |
GBP |
|
522,344 |
|
(544,997) |
|||
|
349,000 |
|
ABN AMRO |
|
HSBC Holdings PLC |
|
07/09/08 |
|
8.5220 |
GBP |
|
206,299 |
|
(196,914) |
|||
|
2,000,000 |
|
Goldman Sachs |
|
Lloyds TSB Group PLC |
|
07/09/08 |
|
3.7735 |
GBP |
|
761,784 |
|
(627,508) |
|||
|
753,000 |
|
BNP Paribas |
|
Marks & Spencer Group PLC |
|
07/09/08 |
|
3.7581 |
GBP |
|
293,506 |
|
(330,062) |
|||
|
3,201,000 |
|
Goldman Sachs |
|
Royal Bank of Scotland Group PLC |
|
07/09/08 |
|
2.3474 |
GBP |
|
1,051,022 |
|
(934,874) |
|||
|
1,590,000 |
|
Goldman Sachs |
|
Telecom Corp. of New Zealand Ltd. |
|
07/09/08 |
|
3.9600 |
NZD |
|
166,016 |
|
(216,972) |
|||
|
1,086,000 |
|
Morgan Stanley |
|
TeliaSonera AB |
|
07/09/08 |
|
52.1070 |
SEK |
|
488,581 |
|
(779,777) |
|||
|
409,000 |
|
JPMorgan Chase, London |
|
DBS Group Holdings Ltd. |
|
07/09/08 |
|
19.4281 |
SGD |
|
212,027 |
|
(232,494) |
|||
|
264,000 |
|
Goldman Sachs |
|
Altria Group, Inc. |
|
07/09/08 |
|
22.2100 |
USD |
|
176,431 |
|
(224,057) |
|||
|
109,000 |
|
Citibank, N.A., London |
|
Ameren Corp. |
|
07/09/08 |
|
45.2150 |
USD |
|
122,941 |
|
(102,927) |
|||
|
407,000 |
|
ABN AMRO |
|
AT&T Inc. |
|
07/09/08 |
|
39.7697 |
USD |
|
501,831 |
|
(544,781) |
|||
|
289,000 |
|
UBS AG, London |
|
Bank of America Corp. |
|
07/09/08 |
|
33.8128 |
USD |
|
479,740 |
|
(385,917) |
|||
|
677,000 |
|
Morgan Stanley |
|
Bristol-Myers Squibb Co. |
|
07/09/08 |
|
22.3900 |
USD |
|
519,936 |
|
(594,001) |
|||
|
695,000 |
|
Morgan Stanley |
|
Citigroup Inc. |
|
07/09/08 |
|
22.0100 |
USD |
|
868,541 |
|
(822,025) |
|||
|
267,000 |
|
Morgan Stanley |
|
Citizens Communications Co. |
|
07/09/08 |
|
11.2900 |
USD |
|
114,810 |
|
(135,356) |
|||
|
388,000 |
|
ABN AMRO |
|
Dow Chemical Co. |
|
07/09/08 |
|
40.3320 |
USD |
|
521,860 |
|
(462,945) |
|||
|
538,000 |
|
JPMorgan Chase, London |
|
Duke Energy Corp. |
|
07/09/08 |
|
18.4100 |
USD |
|
255,550 |
|
(301,970) |
|||
|
61,000 |
|
Goldman Sachs |
|
Enerplus Resources Fund |
|
07/09/08 |
|
46.9500 |
USD |
|
90,213 |
|
(74,548) |
|||
|
217,000 |
|
UBS AG, London |
|
Foot Locker, Inc. |
|
07/09/08 |
|
14.8500 |
USD |
|
171,430 |
|
(146,156) |
|||
|
322,000 |
|
Goldman Sachs |
|
General Electric Co. |
|
07/09/08 |
|
30.4374 |
USD |
|
322,451 |
|
(359,771) |
|||
|
92,000 |
|
Deutsche Bank, AG |
|
Hospitality Properties Trust |
|
07/09/08 |
|
31.0727 |
USD |
|
102,626 |
|
(107,658) |
|||
|
306,000 |
|
Deutsche Bank, AG |
|
Kraft Foods Inc. |
|
07/09/08 |
|
32.7600 |
USD |
|
255,632 |
|
(201,107) |
|||
|
264,000 |
|
Goldman Sachs |
|
Leggett & Platt, Inc. |
|
07/09/08 |
|
19.1001 |
USD |
|
213,022 |
|
(163,865) |
|||
|
274,000 |
|
UBS AG, London |
|
Masco Corporation |
|
07/09/08 |
|
18.3638 |
USD |
|
263,040 |
|
(253,885) |
|||
|
116,000 |
|
Goldman Sachs |
|
MeadWestvaco Corp. |
|
07/09/08 |
|
25.9522 |
USD |
|
115,002 |
|
(130,686) |
|||
|
379,000 |
|
Morgan Stanley |
|
Merck & Co. Inc. |
|
07/09/08 |
|
38.7600 |
USD |
|
464,313 |
|
(459,398) |
|||
|
150,000 |
|
Merrill Lynch |
|
Newell Rubbermaid Inc. |
|
07/09/08 |
|
19.9500 |
USD |
|
102,000 |
|
(119,971) |
|||
|
802,000 |
|
Deutsche Bank, AG |
|
Pfizer Inc. |
|
07/09/08 |
|
19.4375 |
USD |
|
438,052 |
|
(431,721) |
|||
|
189,000 |
|
Goldman Sachs |
|
Philip Morris International Inc. |
|
07/09/08 |
|
51.6600 |
USD |
|
264,600 |
|
(297,051) |
|||
|
67,000 |
|
Citibank, N.A., London |
|
Rayonier Inc. |
|
07/09/08 |
|
44.7600 |
USD |
|
99,770 |
|
(181,853) |
|||
|
272,000 |
|
JPMorgan Chase, London |
|
Southern Co. |
|
07/09/08 |
|
36.2250 |
USD |
|
227,610 |
|
(238,722) |
|||
|
219,000 |
|
Merrill Lynch |
|
Spectra Energy Corp. |
|
07/09/08 |
|
26.9100 |
USD |
|
174,543 |
|
(190,052) |
|||
|
899,000 |
|
Morgan Stanley |
|
Taiwan Semiconductor Manufacturing Co. Ltd. ADR |
|
07/09/08 |
|
11.4900 |
USD |
|
485,460 |
|
(520,082) |
|||
|
120,000 |
|
UBS AG, London |
|
Tele Norte Leste Participacoes S.A. ADR |
|
07/09/08 |
|
25.9476 |
USD |
|
169,200 |
|
(136,816) |
|||
|
449,000 |
|
BNP Paribas |
|
US Bancorp |
|
07/09/08 |
|
33.2155 |
USD |
|
516,036 |
|
(488,141) |
|||
|
91,000 |
|
BNP Paribas |
|
UST Inc. |
|
07/09/08 |
|
55.1200 |
USD |
|
154,700 |
|
(119,758) |
|||
|
494,000 |
|
Morgan Stanley |
|
Wachovia Corp. |
|
07/09/08 |
|
24.0200 |
USD |
|
800,922 |
|
(734,423) |
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
23,533,185 |
|
$ |
(24,819,242) |
|
|
|
|
|
|
Total Premiums Received: |
|
$ |
23,533,185 |
|
|
|
|
|
|
|
||
|
|
|
Total Liabilities for Call Options Written: |
|
$ |
24,819,242 |
|
|
|
|
|
|
|
||||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2008 (Unaudited) (continued) |
Fair Value Measurements - Effective March 1, 2008, the Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157 (“SFAS 157”), “Fair Value Measurements.” This new accounting statement defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles (“GAAP”), and expands disclosures about fair value measurements. The three levels of the fair value hierarchy are as follows:
· 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 the Funds own assumption in determining the fair value of investments)
The inputs or methodology used in valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of May 31, 2008 in valuing the Fund’s investments at fair value:
|
|
|
Investments in |
|
Other Financial |
|
||
|
|
|
Securities |
|
Instruments* |
|
||
|
Level 1- Quoted Prices |
|
$ |
578,517,591 |
|
$ |
— |
|
|
Level 2- Other Significant Observable Inputs |
|
1,023,737,265 |
|
— |
|
||
|
Level 3- Significant Unobservable Inputs |
|
— |
|
(17,015,475 |
) |
||
|
Total |
|
$ |
1,602,254,856 |
|
$ |
(17,015,475 |
) |
* Other financial instruments may include forward foreign currency contracts, futures, swaps, and written options , which are valued at the unrealized appreciation/depreciation of the instrument.
A roll forward of fair value measurements using significant unobservable inputs (Level 3) as of May 31, 2008, were as follows:
|
|
|
Investments in |
|
Other Financial |
|
||
|
|
|
Securities |
|
Instruments* |
|
||
|
Balance at 02/29/08 |
|
$ |
— |
|
$ |
(5,820,070 |
) |
|
Net purchases (sales) |
|
— |
|
910,427 |
|
||
|
Total realized and unrealized gain (loss) |
|
— |
|
(12,105,832 |
) |
||
|
Transfers in and/or out of Level 3 |
|
— |
|
— |
|
||
|
Balance at 05/31/08 |
|
$ |
— |
|
$ |
(17,015,475 |
) |
* Other financial instruments may include forward foreign currency contracts, futures, swaps, and written options , which are valued at the unrealized appreciation/depreciation of the instrument.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
(Registrant): |
ING Global Equity Dividend and Premium Opportunity Fund |
|
By |
/s/ Shaun P. Mathews |
|
|
|
Shaun P. Mathews |
|
|
|
President and Chief Executive Officer |
|
|
|
|
|
|
Date: |
July 30, 2008 |
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By |
/s/ Shaun P. Mathews |
|
|
|
Shaun P. Mathews |
|
|
|
President and Chief Executive Officer |
|
|
|
|
|
|
Date: |
July 30, 2008 |
|
|
|
|
|
|
By |
/s/ Todd Modic |
|
|
|
Todd Modic |
|
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Senior Vice President and Chief Financial Officer |
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Date: |
July 30, 2008 |
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