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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: |
November 30, 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 November 30, 2008 (Unaudited) |
|
Shares |
|
|
|
|
|
Value |
|
|
COMMON STOCK: 90.7% |
|
|
|||||
|
|
|
|
|
Australia: 6.2% |
|
|
|
|
1,783,707 |
|
|
|
Australia & New Zealand Banking Group Ltd. |
|
$ |
17,472,191 |
|
285,078 |
|
|
|
Crown Ltd. |
|
875,732 |
|
|
1,748,381 |
|
|
|
Foster’s Group Ltd. |
|
6,319,183 |
|
|
4,113,094 |
|
|
|
Insurance Australia Group |
|
9,956,303 |
|
|
1,178,615 |
|
|
|
Lion Nathan Ltd. |
|
6,744,282 |
|
|
7,911,410 |
|
|
|
Macquarie Airports Management Ltd. |
|
10,605,941 |
|
|
2,453,538 |
|
|
|
Suncorp-Metway Ltd. |
|
12,762,798 |
|
|
553,495 |
|
|
|
Wesfarmers Ltd. |
|
6,812,152 |
|
|
|
|
|
|
|
|
71,548,582 |
|
|
|
|
|
|
Canada: 1.6% |
|
|
|
|
304,287 |
|
|
|
Enerplus Resources Fund |
|
7,056,416 |
|
|
413,499 |
|
|
|
TransCanada Corp. |
|
10,902,817 |
|
|
|
|
|
|
|
|
17,959,233 |
|
|
|
|
|
|
Finland: 1.9% |
|
|
|
|
733,591 |
|
|
|
Nokia OYJ |
|
10,393,974 |
|
|
770,052 |
|
|
|
UPM-Kymmene OYJ |
|
11,109,946 |
|
|
|
|
|
|
|
|
21,503,920 |
|
|
|
|
|
|
France: 10.1% |
|
|
|
|
284,935 |
|
|
|
Accor SA |
|
10,998,210 |
|
|
301,214 |
|
|
|
BNP Paribas |
|
16,691,892 |
|
|
285,435 |
|
|
|
Bouygues SA |
|
11,735,763 |
|
|
418,804 |
|
|
|
France Telecom SA |
|
10,773,842 |
|
|
293,727 |
|
|
|
Sanofi-Aventis |
|
16,237,932 |
|
|
406,564 |
|
|
|
Total SA |
|
21,360,005 |
|
|
273,132 |
|
|
|
Vinci SA |
|
11,021,861 |
|
|
600,754 |
|
|
|
Vivendi |
|
17,062,410 |
|
|
|
|
|
|
|
|
115,881,915 |
|
|
|
|
|
|
Germany: 3.0% |
|
|
|
|
102,632 |
|
|
|
Deutsche Boerse AG |
|
7,192,546 |
|
|
465,599 |
|
|
|
E.ON AG |
|
16,314,806 |
|
|
79,838 |
|
|
|
Muenchener Rueckversicherungs AG |
|
10,838,265 |
|
|
|
|
|
|
|
|
34,345,617 |
|
|
|
|
|
|
Hong Kong: 1.6% |
|
|
|
|
897,207 |
|
|
|
Hang Seng Bank Ltd. |
|
11,515,509 |
|
|
1,201,500 |
|
|
|
HongKong Electric Holdings |
|
6,775,135 |
|
|
|
|
|
|
|
|
18,290,644 |
|
|
|
|
|
|
Hungary: 0.5% |
|
|
|
|
409,129 |
|
|
|
Magyar Telekom Telecommunications PLC ADR |
|
6,014,196 |
|
|
|
|
|
|
|
|
6,014,196 |
|
|
|
|
|
|
Ireland: 0.3% |
|
|
|
|
1,146,670 |
|
|
|
Allied Irish Banks PLC |
|
3,949,647 |
|
|
|
|
|
|
|
|
3,949,647 |
|
|
|
|
|
|
Italy: 7.1% |
|
|
|
|
483,335 |
|
|
|
Banche Popolari Unite Scpa |
|
6,969,437 |
|
|
3,415,181 |
|
|
|
Enel S.p.A. |
|
21,360,617 |
|
|
956,347 |
|
|
|
ENI S.p.A. |
|
21,706,789 |
|
|
890,264 |
|
|
|
Italcementi S.p.A. RNC |
|
5,226,936 |
|
|
2,041,971 |
|
|
|
Mediaset S.p.A. |
|
11,056,024 |
|
|
17,967,770 |
|
|
|
Telecom Italia S.p.A. RNC |
|
15,395,751 |
|
|
|
|
|
|
|
|
81,715,554 |
|
|
|
|
|
|
Japan: 1.4% |
|
|
|
|
31,700 |
|
|
|
Nintendo Co., Ltd. |
|
9,855,143 |
|
|
205,300 |
|
|
|
Toyota Motor Corp. |
|
6,580,775 |
|
|
|
|
|
|
|
|
16,435,918 |
|
|
|
|
|
|
Netherlands: 3.6% |
|
|
|
|
417,554 |
|
|
|
Randstad Holdings NV |
|
7,813,882 |
|
|
829,718 |
|
|
|
Royal Dutch Shell PLC |
|
22,115,115 |
|
|
463,596 |
|
|
|
Unilever NV |
|
10,822,653 |
|
|
|
|
|
|
|
|
40,751,650 |
|
|
|
|
|
|
New Zealand: 0.9% |
|
|
|
|
7,787,351 |
|
|
|
Telecom Corp. of New Zealand Ltd. |
|
10,638,135 |
|
|
|
|
|
|
|
|
10,638,135 |
|
|
|
|
|
|
Singapore: 0.6% |
|
|
|
|
1,003,000 |
|
|
|
DBS Group Holdings Ltd. |
|
6,281,763 |
|
|
|
|
|
|
|
|
6,281,763 |
|
|
|
|
|
|
South Korea: 0.6% |
|
|
|
|
154,883 |
|
|
|
S-Oil Corp. |
|
6,962,444 |
|
|
|
|
|
|
|
|
6,962,444 |
|
|
|
|
|
|
Spain: 3.9% |
|
|
|
|
1,019,017 |
|
|
|
Banco Bilbao Vizcaya Argentaria SA |
|
10,576,164 |
|
|
2,172,042 |
|
|
|
Banco Santander Central Hispano SA |
|
17,847,480 |
|
|
826,402 |
|
|
|
Telefonica SA |
|
16,748,277 |
|
|
|
|
|
|
|
|
45,171,921 |
|
|
|
|
|
|
Sweden: 0.9% |
|
|
|
|
2,414,594 |
|
|
|
TeliaSonera AB |
|
10,831,892 |
|
|
|
|
|
|
|
|
10,831,892 |
|
|
|
|
|
|
Switzerland: 1.0% |
|
|
|
|
232,902 |
|
|
|
Novartis AG ADR |
|
10,927,762 |
|
|
|
|
|
|
|
|
10,927,762 |
|
|
|
|
|
|
Taiwan: 1.0% |
|
|
|
|
1,609,756 |
|
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. ADR |
|
11,509,755 |
|
|
|
|
|
|
|
|
11,509,755 |
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
as of November 30, 2008 (Unaudited) (continued) |
|
Shares |
|
|
|
|
|
Value |
|
|
|
|
|
|
Thailand: 0.4% |
|
|
|
|
1,754,100 |
|
|
|
Siam Cement PCL |
|
$ |
4,472,311 |
|
|
|
|
|
|
|
4,472,311 |
|
|
|
|
|
|
United Kingdom: 12.0% |
|
|
|
|
438,647 |
|
|
|
AstraZeneca PLC |
|
16,539,568 |
|
|
2,624,766 |
|
|
|
Aviva PLC |
|
16,295,065 |
|
|
5,420,208 |
|
|
|
BBA Aviation PLC |
|
6,581,999 |
|
|
2,052,717 |
|
|
|
BP PLC |
|
16,637,148 |
|
|
2,116,867 |
|
|
|
Brit Insurance Holdings PLC |
|
6,637,043 |
|
|
426,033 |
|
|
|
British American Tobacco PLC |
|
11,152,685 |
|
|
953,217 |
|
|
|
GlaxoSmithKline PLC |
|
16,486,818 |
|
|
642,388 |
|
|
|
HSBC Holdings PLC |
|
7,008,091 |
|
|
2,074,104 |
|
|
|
Marks & Spencer Group PLC |
|
7,242,235 |
|
|
1,331,901 |
|
|
|
Tate & Lyle PLC |
|
8,038,156 |
|
|
1,475,864 |
|
|
|
United Utilities Group PLC |
|
13,781,431 |
|
|
5,428,742 |
|
|
|
Vodafone Group PLC |
|
10,648,206 |
|
|
|
|
|
|
|
|
137,048,445 |
|
|
|
|
|
|
United States: 32.1% |
|
|
|
|
444,162 |
|
|
|
Altria Group, Inc. |
|
7,142,125 |
|
|
310,603 |
|
|
|
Ameren Corp. |
|
11,051,255 |
|
|
628,376 |
|
|
|
AT&T, Inc. |
|
17,946,419 |
|
|
666,307 |
|
|
|
Bank of America Corp. |
|
10,827,489 |
|
|
792,907 |
|
|
|
Bristol-Myers Squibb Co. |
|
16,413,175 |
|
|
138,980 |
|
|
|
Chevron Corp. |
|
10,885,136 |
|
|
273,157 |
|
|
|
Consolidated Edison, Inc. |
|
11,032,811 |
|
|
741,447 |
|
|
|
Dow Chemical Co. |
|
13,753,842 |
|
|
715,584 |
|
|
|
Duke Energy Corp. |
|
11,134,487 |
|
|
567,591 |
|
|
|
EI Du Pont de Nemours & Co. |
|
14,223,830 |
|
|
205,023 |
|
|
|
Emerson Electric Co. |
|
7,358,275 |
|
|
127,487 |
|
|
|
Exelon Corp. |
|
7,166,044 |
|
|
784,431 |
|
|
|
Foot Locker, Inc. |
|
5,279,221 |
|
|
994,063 |
|
|
|
General Electric Co. |
|
17,068,062 |
|
|
325,474 |
|
|
|
Home Depot, Inc. |
|
7,521,704 |
|
|
855,390 |
|
|
|
Intel Corp. |
|
11,804,382 |
|
|
402,483 |
|
|
|
Kraft Foods, Inc. |
|
10,951,562 |
|
|
750,254 |
|
|
|
Leggett & Platt, Inc. |
|
10,953,708 |
|
|
183,439 |
|
|
|
Lorillard, Inc. |
|
11,085,219 |
|
|
1,005,106 |
|
|
|
Macy’s, Inc. |
|
7,457,887 |
|
|
1,183,981 |
|
|
|
Masco Corp. |
|
11,342,538 |
|
|
571,509 |
|
|
|
MeadWestvaco Corp. |
|
6,663,795 |
|
|
669,771 |
|
|
|
Merck & Co., Inc. |
|
17,896,281 |
|
|
870,038 |
|
|
|
Newell Rubbermaid, Inc. |
|
11,623,708 |
|
|
306,700 |
|
|
|
NYSE Euronext |
|
7,302,527 |
|
|
432,920 |
|
|
|
OGE Energy Corp. |
|
11,468,051 |
|
|
1,079,613 |
|
|
|
Pfizer, Inc. |
|
17,738,042 |
|
|
261,137 |
|
|
|
Philip Morris International, Inc. |
|
11,009,536 |
|
|
1,180,087 |
|
|
|
Sara Lee Corp. |
|
10,833,199 |
|
|
1,251,441 |
|
|
|
Seagate Technology, Inc. |
|
5,268,567 |
|
|
301,214 |
|
|
|
Southern Co. |
|
10,940,092 |
|
|
430,496 |
|
|
|
Spectra Energy Corp. |
|
6,999,865 |
|
|
178,196 |
|
|
|
Sunoco, Inc. |
|
7,081,509 |
|
|
388,162 |
|
|
|
US Bancorp. |
|
10,472,611 |
|
|
|
|
|
|
|
|
367,696,954 |
|
|
|
|
|
|
Total Common
Stock |
|
1,039,938,258 |
|
|
REAL ESTATE INVESTMENT TRUSTS: 1.8% |
|
|
|||||
|
|
|
|
|
Australia: 0.6% |
|
|
|
|
730,902 |
|
|
|
Westfield Group |
|
7,242,903 |
|
|
|
|
|
|
|
|
7,242,903 |
|
|
|
|
|
|
Netherlands: 0.6% |
|
|
|
|
145,008 |
|
|
|
Corio NV |
|
6,624,091 |
|
|
|
|
|
|
|
|
6,624,091 |
|
|
|
|
|
|
United States: 0.6% |
|
|
|
|
215,332 |
|
|
|
Rayonier, Inc. |
|
7,192,089 |
|
|
|
|
|
|
|
|
7,192,089 |
|
|
|
|
|
|
Total Real
Estate Investment Trusts |
|
21,059,083 |
|
|
RIGHTS: 0.1% |
|
|
|||||
|
|
|
|
|
Spain: 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,444,389 |
|
|
|
Banco Santander SA |
|
885,436 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Rights |
|
885,436 |
|
|
# of |
|
Counterparty |
|
|
|
Value |
|
|
PURCHASED PUT OPTIONS: 3.6% |
|
|
|||||
|
|
|
|
|
Australia: 0.5% |
|
|
|
|
7,000 |
|
Deutsche Bank, AG |
|
S&P/ASX 200 Index, Strike Price 4,457.7000 AUD, Expires 12/19/08 |
|
$ |
3,277,925 |
|
7,000 |
|
ABN AMRO |
|
S&P/ASX 200 Index, Strike Price 3,655.0000 AUD, Expires 01/16/09 |
|
899,866 |
|
|
5,200 |
|
BNP Paribas |
|
S&P/ASX 200 Index, Strike Price 2,936.6200 AUD, Expires 02/20/09 |
|
254,592 |
|
|
18,000,000 |
|
Goldman Sachs |
|
Australian Dollar Currency Option (AUD/USD), Strike Price 0.6125, Expires 12/18/08 |
|
372,644 |
|
|
17,000,000 |
|
Citigroup |
|
Australian Dollar Currency Option (AUD/USD), Strike Price 0.6144, Expires 01/20/09 |
|
630,398 |
|
|
14,000,000 |
|
JPMorgan Chase |
|
Australian Dollar Currency Option (AUD/USD), Strike Price 0.5400, Expires 02/20/09 |
|
241,646 |
|
|
|
|
|
|
|
|
5,677,071 |
|
|
|
|
|
|
European Union: 1.8% |
|
|
|
|
23,000 |
|
ABN AMRO |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,882.7000 EUR, Expires 12/19/08 |
|
13,256,490 |
|
|
23,000 |
|
SG Cowen |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,140.0000 EUR, Expires 12/19/08 |
|
881,274 |
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
as of November 30, 2008 (Unaudited) (continued) |
|
# of |
|
Counterparty |
|
|
|
Value |
|||
|
|
|
|
|
European Union (continued) |
|
|
|||
|
22,000 |
|
ABN AMRO |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,024.2500 EUR, Expires 01/16/09 |
|
$ |
1,455,310 |
||
|
23,300 |
|
BNP Paribas |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 1,801.5500 EUR, Expires 02/20/09 |
|
1,454,994 |
|||
|
70,000,000 |
|
UBS AG |
|
European Union Currency Option (EUR/USD), Strike Price 1.2750, Expires 12/18/08 |
|
1,637,910 |
|||
|
65,000,000 |
|
Deutsche Bank |
|
European Union Currency Option (EUR/USD), Strike Price 1.2400, Expires 01/20/09 |
|
1,458,236 |
|||
|
70,000,000 |
|
Citigroup |
|
European Union Currency Option (EUR/USD), Strike Price 1.1435, Expires 02/20/09 |
|
744,874 |
|||
|
|
|
|
|
|
|
20,889,088 |
|||
|
|
|
|
|
United Kingdom : 0.8% |
|
|
|||
|
5,000 |
|
Barclays Bank PLC |
|
FTSE 100 Index, Strike Price 4,755.6000 GBP, Expires 12/19/08 |
|
3,825,806 |
|||
|
5,000 |
|
SG Cowen |
|
FTSE 100 Index, Strike Price 3,450.0000 GBP, Expires 12/19/08 |
|
161,713 |
|||
|
4,500 |
|
ABN AMRO |
|
FTSE 100 Index, Strike Price 3,313.0300 GBP, Expires 01/16/09 |
|
376,034 |
|||
|
3,300 |
|
BNP Paribas |
|
FTSE 100 Index, Strike Price 3,147.8900 GBP, Expires 02/20/09 |
|
408,914 |
|||
|
40,000,000 |
|
UBS AG |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.6150, Expires 12/18/08 |
|
2,132,566 |
|||
|
35,000,000 |
|
Deutsche Bank, AG |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.5900, Expires 01/20/09 |
|
1,781,122 |
|||
|
20,000,000 |
|
Deutsche Bank, AG |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.3315, Expires 02/20/09 |
|
539,993 |
|||
|
|
|
|
|
|
|
9,226,148 |
|||
|
|
|
|
|
United States : 0.5% |
|
|
|||
|
63,000 |
|
ABN AMRO |
|
S&P 500 Index, Strike Price 785.0000 USD, Expires 12/19/08 |
|
818,055 |
|||
|
75,000 |
|
Citigroup |
|
S&P 500 Index, Strike Price 804.1000 USD, Expires 01/16/09 |
|
2,552,311 |
|||
|
140,300 |
|
Barclays Bank PLC |
|
S&P 500 Index, Strike Price 613.2100 USD, Expires 02/20/09 |
|
1,937,127 |
|||
|
|
|
|
|
|
|
5,307,493 |
|||
|
|
|
|
|
Total
Purchased Put Options |
|
41,099,800 |
|||
|
|
|
|
|
Total Investments in Securities |
|
96.2% |
|
$ |
1,102,982,577 |
|
|
|
|
|
Other Assets and Liabilities - Net |
|
3.8 |
|
43,328,342 |
|
|
|
|
|
|
Net Assets |
|
100.0% |
|
$ |
1,146,310,919 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ADR |
|
American Depositary Receipt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
|
Cost for federal income tax purposes is 1,565,226,482. |
|
|
|
|
|
|
|
|
|
|
Net unrealized depreciation consists of: |
|
|
|
|
|
|
|
|
|
|
Gross Unrealized Appreciation |
|
|
|
$ |
38,563,220 |
|
|
|
|
|
Gross Unrealized Depreciation |
|
|
|
(500,807,125) |
|
|
|
|
|
|
Net Unrealized Depreciation |
|
|
|
$ |
(462,243,905) |
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
as of November 30, 2008 (Unaudited) (continued) |
|
|
|
Percentage of |
|
Industry |
|
Net Assets |
|
Aerospace/Defense |
|
0.6% |
|
Agriculture |
|
3.5 |
|
Auto Manufacturers |
|
0.6 |
|
Banks |
|
11.7 |
|
Beverages |
|
1.1 |
|
Building Materials |
|
1.8 |
|
Chemicals |
|
2.4 |
|
Commercial Services |
|
0.7 |
|
Computers |
|
0.5 |
|
Diversified |
|
0.6 |
|
Diversified Financial Services |
|
1.3 |
|
Electric |
|
9.4 |
|
Electrical Components & Equipment |
|
0.6 |
|
Engineering & Construction |
|
2.9 |
|
Food |
|
3.5 |
|
Forest Products & Paper |
|
2.2 |
|
Housewares |
|
1.0 |
|
Insurance |
|
3.8 |
|
Lodging |
|
1.0 |
|
Media |
|
2.5 |
|
Miscellaneous Manufacturing |
|
2.4 |
|
Oil & Gas |
|
9.9 |
|
Pharmaceuticals |
|
9.8 |
|
Pipelines |
|
1.6 |
|
Purchased Option |
|
3.6 |
|
Retail |
|
3.0 |
|
Semiconductors |
|
2.0 |
|
Shopping Centers |
|
0.6 |
|
Telecommunications |
|
9.5 |
|
Toys/Games/Hobbies |
|
0.9 |
|
Water |
|
1.2 |
|
Other Assets and Liabilities - Net |
|
3.8 |
|
Net Assets |
|
100.0% |
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
as of November 30, 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 Fund’s 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 table summarizes the inputs used as of November 30, 2008 in determining the Fund’s investments at fair value for purposes of SFAS 157:
|
|
|
Investments in |
|
Other Financial |
|
|||
|
|
|
Securities |
|
Instruments* |
|
|||
|
Level 1- Quoted Prices |
|
$ |
456,531,042 |
|
$ |
— |
|
|
|
Level 2- Other Significant Observable Inputs |
|
646,451,535 |
|
(28,430,296) |
|
|||
|
Level 3- Significant Unobservable Inputs |
|
— |
|
(177,491) |
|
|||
|
Total |
|
$ |
1,102,982,577 |
|
$ |
(28,607,787) |
|
|
“Fair value” for purposes of SFAS 157 is different from “fair value” as used in the 1940 Act. The former generally implies market value, and can include market quotations as a source of value, and the latter refers to determinations of actual value in absence of available market quotations.
*Other financial instruments may include forward foreign currency contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at period end. Swaps and written options are reported at their market value at period end.
A roll forward of fair value measurements using significant unobservable inputs (Level 3) for the nine months ended November 30, 2008, was as follows:
|
|
|
Investments in |
|
Other Financial |
|
||
|
|
|
Securities |
|
Instruments* |
|
||
|
Balance at 02/29/08 |
|
$ |
— |
|
$ |
(5,820,070) |
|
|
Net purchases/sales |
|
— |
|
10,583,428 |
|
||
|
Total realized and unrealized gain (loss) |
|
— |
|
(4,940,849) |
|
||
|
Amortization of premium/discount |
|
— |
|
— |
|
||
|
Transfers in and/or out of Level 3 |
|
— |
|
— |
|
||
|
Balance at 11/30/08 |
|
$ |
— |
|
$ |
(177,491) |
|
*Other financial instruments may include forward foreign currency contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at period end. Swaps and written options are reported at their market value at period end.
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
as of November 30, 2008 (Unaudited) (continued) |
Written Call Options
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
Premiums |
|
|
||||||||||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
Received |
|
Value |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
8,500 |
|
Goldman Sachs |
|
S&P/ASX 200 Index |
|
01/14/09 |
|
3,446.71000 |
AUD |
|
$ |
1,220,941 |
|
$ |
(2,314,163) |
||||||||
|
110,000 |
|
Merrill Lynch |
|
TransCanada Corp. |
|
01/14/09 |
|
31.96000 |
CAD |
|
181,377 |
|
(158,254) |
||||||||||
|
92,000 |
|
Goldman Sachs |
|
Accor S.A. |
|
01/14/09 |
|
25.25440 |
EUR |
|
310,691 |
|
(696,071) |
||||||||||
|
303,000 |
|
BNP Paribas |
|
Banco Bilbao Vizcaya Argentaria, S.A. |
|
01/14/09 |
|
7.15400 |
EUR |
|
351,504 |
|
(576,101) |
||||||||||
|
82,000 |
|
Barclays Bank PLC |
|
BNP Paribas |
|
01/14/09 |
|
35.80000 |
EUR |
|
554,802 |
|
(1,018,741) |
||||||||||
|
89,000 |
|
BNP Paribas |
|
Bouygues S.A. |
|
01/14/09 |
|
25.10100 |
EUR |
|
326,038 |
|
(895,076) |
||||||||||
|
21,000 |
|
BNP Paribas |
|
Corio N.V. |
|
01/14/09 |
|
34.66000 |
EUR |
|
82,623 |
|
(96,151) |
||||||||||
|
28,000 |
|
Barclays Bank PLC |
|
Deutsche Boerse A.G. |
|
01/14/09 |
|
49.57000 |
EUR |
|
229,401 |
|
(349,069) |
||||||||||
|
30,100 |
|
Morgan Stanley |
|
Dow Jones Euro Stoxx 50 |
|
01/14/09 |
|
2,376.15000 |
EUR |
|
6,452,262 |
|
(7,584,565) |
||||||||||
|
136,000 |
|
ABN AMRO |
|
E.ON AG |
|
01/14/09 |
|
25.40300 |
EUR |
|
464,999 |
|
(651,155) |
||||||||||
|
131,000 |
|
ABN AMRO |
|
France Telecom S.A. |
|
01/14/09 |
|
18.68100 |
EUR |
|
260,310 |
|
(395,678) |
||||||||||
|
24,000 |
|
Barclays Bank PLC |
|
Muenchener Rueckversicherungs-Gesellschaft AG (MunichRe) |
|
01/14/09 |
|
95.88000 |
EUR |
|
327,217 |
|
(490,480) |
||||||||||
|
183,000 |
|
BNP Paribas |
|
Nokia Oyj |
|
01/14/09 |
|
10.22000 |
EUR |
|
276,919 |
|
(373,511) |
||||||||||
|
115,000 |
|
BNP Paribas |
|
Randstad Holding N.V. |
|
01/14/09 |
|
13.08200 |
EUR |
|
212,995 |
|
(346,056) |
||||||||||
|
264,000 |
|
Deutsche Bank, AG |
|
Royal Dutch Shell PLC |
|
01/14/09 |
|
18.46600 |
EUR |
|
608,109 |
|
(1,084,055) |
||||||||||
|
79,000 |
|
BNP Paribas |
|
Sanofi-Aventis |
|
01/14/09 |
|
43.16500 |
EUR |
|
334,341 |
|
(353,882) |
||||||||||
|
257,000 |
|
Deutsche Bank, AG |
|
Telefonica S.A. |
|
01/14/09 |
|
14.42080 |
EUR |
|
342,092 |
|
(626,735) |
||||||||||
|
125,000 |
|
Morgan Stanley |
|
Total S.A. |
|
01/14/09 |
|
37.89000 |
EUR |
|
559,769 |
|
(830,567) |
||||||||||
|
136,000 |
|
BNP Paribas |
|
Unilever N.V. |
|
01/14/09 |
|
17.92500 |
EUR |
|
239,625 |
|
(258,939) |
||||||||||
|
223,000 |
|
Deutsche Bank, AG |
|
UPM-Kymmene Oyj |
|
01/14/09 |
|
9.62540 |
EUR |
|
250,352 |
|
(570,105) |
||||||||||
|
91,000 |
|
Deutsche Bank, AG |
|
Vinci S.A. |
|
01/14/09 |
|
24.86720 |
EUR |
|
365,989 |
|
(830,138) |
||||||||||
|
189,000 |
|
Goldman Sachs |
|
Vivendi |
|
01/14/09 |
|
20.13000 |
EUR |
|
414,792 |
|
(715,120) |
||||||||||
|
113,000 |
|
Deutsche Bank, AG |
|
AstraZeneca PLC |
|
01/14/09 |
|
24.72260 |
GBP |
|
298,808 |
|
(231,661) |
||||||||||
|
126,000 |
|
Barclays Bank PLC |
|
British American Tobacco PLC |
|
01/14/09 |
|
16.60000 |
GBP |
|
285,523 |
|
(239,905) |
||||||||||
|
681,000 |
|
Morgan Stanley |
|
BP PLC |
|
01/14/09 |
|
4.83250 |
GBP |
|
504,448 |
|
(683,363) |
||||||||||
|
5,600 |
|
Morgan Stanley |
|
FTSE 100 Index |
|
01/14/09 |
|
4,122.93000 |
GBP |
|
2,558,385 |
|
(3,355,790) |
||||||||||
|
266,000 |
|
Goldman Sachs |
|
GlaxoSmithKline PLC |
|
01/14/09 |
|
11.45130 |
GBP |
|
297,932 |
|
(227,458) |
||||||||||
|
608,000 |
|
Barclays Bank PLC |
|
Marks & Spencer Group PLC |
|
01/14/09 |
|
2.03000 |
GBP |
|
227,833 |
|
(326,727) |
||||||||||
|
469,000 |
|
Deutsche Bank, AG |
|
United Utilities Group PLC |
|
01/14/09 |
|
6.42140 |
GBP |
|
273,237 |
|
(177,491) |
||||||||||
|
1,723,000 |
|
Goldman Sachs |
|
Vodafone Group PLC |
|
01/14/09 |
|
1.18180 |
GBP |
|
266,141 |
|
(446,544) |
||||||||||
|
125,000 |
|
Goldman Sachs |
|
Altria Group, Inc. |
|
01/14/09 |
|
15.84000 |
USD |
|
168,300 |
|
(135,663) |
||||||||||
|
95,000 |
|
BNP Paribas |
|
Ameren Corp. |
|
01/14/09 |
|
30.05800 |
USD |
|
233,263 |
|
(559,315) |
||||||||||
|
178,000 |
|
BNP Paribas |
|
AT&T Inc. |
|
01/14/09 |
|
25.68800 |
USD |
|
497,492 |
|
(716,898) |
||||||||||
|
187,000 |
|
Goldman Sachs |
|
Bank of America Corp. |
|
01/14/09 |
|
11.83200 |
USD |
|
545,385 |
|
(860,941) |
||||||||||
|
240,000 |
|
Merrill Lynch |
|
Bristol-Myers Squibb Co. |
|
01/14/09 |
|
20.19000 |
USD |
|
438,960 |
|
(318,332) |
||||||||||
|
80,000 |
|
Merrill Lynch |
|
Consolidated Edison, Inc. |
|
01/14/09 |
|
38.60000 |
USD |
|
216,160 |
|
(259,058) |
||||||||||
|
187,000 |
|
Merrill Lynch |
|
Dow Chemical Co. |
|
01/14/09 |
|
18.61000 |
USD |
|
401,863 |
|
(275,634) |
||||||||||
|
142,000 |
|
Morgan Stanley |
|
Du Pont (E.I.) De Nemours and Co. |
|
01/14/09 |
|
23.68000 |
USD |
|
386,652 |
|
(452,666) |
||||||||||
|
198,000 |
|
Citigroup |
|
Duke Energy Corp. |
|
01/14/09 |
|
14.99600 |
USD |
|
237,600 |
|
(261,139) |
||||||||||
|
89,000 |
|
Merrill Lynch |
|
Enerplus Resources Fund |
|
01/14/09 |
|
19.19000 |
USD |
|
178,712 |
|
(392,289) |
||||||||||
|
37,000 |
|
BNP Paribas |
|
Exelon Corp. |
|
01/14/09 |
|
47.18400 |
USD |
|
192,911 |
|
(409,481) |
||||||||||
|
175,000 |
|
Morgan Stanley |
|
Foot Locker, Inc. |
|
01/14/09 |
|
7.92620 |
USD |
|
235,777 |
|
(88,705) |
||||||||||
|
284,000 |
|
Barclays Bank PLC |
|
General Electric Co. |
|
01/14/09 |
|
13.50000 |
USD |
|
608,896 |
|
(1,176,765) |
||||||||||
|
93,000 |
|
ABN AMRO |
|
Home Depot, Inc. |
|
01/14/09 |
|
19.77000 |
USD |
|
245,427 |
|
(394,263) |
||||||||||
|
114,000 |
|
Morgan Stanley |
|
Kraft Foods Inc. |
|
01/14/09 |
|
25.92830 |
USD |
|
238,237 |
|
(268,434) |
||||||||||
|
207,000 |
|
Morgan Stanley |
|
Leggett & Platt, Inc. |
|
01/14/09 |
|
12.70660 |
USD |
|
295,058 |
|
(425,968) |
||||||||||
|
52,000 |
|
Merrill Lynch |
|
Lorillard, Inc. |
|
01/14/09 |
|
58.46000 |
USD |
|
317,720 |
|
(332,300) |
||||||||||
|
248,000 |
|
Morgan Stanley |
|
Macy’s, Inc. |
|
01/14/09 |
|
5.53440 |
USD |
|
325,773 |
|
(615,823) |
||||||||||
|
392,000 |
|
Morgan Stanley |
|
Masco Corp. |
|
01/14/09 |
|
7.96000 |
USD |
|
388,080 |
|
(717,316) |
||||||||||
|
81,000 |
|
Barclays Bank PLC |
|
MeadWestvaco Corp. |
|
01/14/09 |
|
10.27000 |
USD |
|
98,334 |
|
(158,826) |
||||||||||
|
179,000 |
|
Morgan Stanley |
|
Merck & Co. Inc. |
|
01/14/09 |
|
25.18000 |
USD |
|
520,210 |
|
(566,370) |
||||||||||
|
247,000 |
|
Deutsche Bank, AG |
|
Newell Rubbermaid Inc. |
|
01/14/09 |
|
10.72800 |
USD |
|
325,003 |
|
(771,551) |
||||||||||
|
77,000 |
|
Deutsche Bank, AG |
|
NYSE Euronext |
|
01/14/09 |
|
18.65210 |
USD |
|
264,133 |
|
(508,259) |
||||||||||
|
306,000 |
|
Morgan Stanley |
|
Pfizer Inc. |
|
01/14/09 |
|
15.37000 |
USD |
|
444,465 |
|
(586,534) |
||||||||||
|
80,000 |
|
Merrill Lynch |
|
Philip Morris International Inc. |
|
01/14/09 |
|
37.78000 |
USD |
|
304,960 |
|
(470,752) |
||||||||||
|
62,000 |
|
Deutsche Bank, AG |
|
Rayonier Inc. |
|
01/14/09 |
|
28.88690 |
USD |
|
195,133 |
|
(361,628) |
||||||||||
|
122,500 |
|
ABN AMRO |
|
S&P 500® Index |
|
01/14/09 |
|
856.66000 |
USD |
|
8,612,387 |
|
(10,566,188) |
||||||||||
|
315,000 |
|
Morgan Stanley |
|
Sara Lee Corp. |
|
01/14/09 |
|
8.58100 |
USD |
|
284,445 |
|
(392,019) |
||||||||||
|
318,000 |
|
Barclays Bank PLC |
|
Seagate Technology |
|
01/14/09 |
|
3.95000 |
USD |
|
188,892 |
|
(287,644) |
||||||||||
|
91,000 |
|
BNP Paribas |
|
Southern Co. |
|
01/14/09 |
|
34.83000 |
USD |
|
203,167 |
|
(257,649) |
||||||||||
|
118,000 |
|
Goldman Sachs |
|
Spectra Energy Corp. |
|
01/14/09 |
|
14.00000 |
USD |
|
194,110 |
|
(353,592) |
||||||||||
|
58,000 |
|
Deutsche Bank, AG |
|
Sunoco, Inc. |
|
01/14/09 |
|
30.32500 |
USD |
|
288,805 |
|
(631,822) |
||||||||||
|
426,000 |
|
Merrill Lynch |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
|
01/14/09 |
|
6.13000 |
USD |
|
245,802 |
|
(547,805) |
||||||||||
|
117,000 |
|
Barclays Bank PLC |
|
US Bancorp |
|
01/14/09 |
|
23.18000 |
USD |
|
364,572 |
|
(600,112) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
$ |
37,766,139 |
|
$ |
(52,625,292) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
Total Premiums Received: |
|
$ |
37,766,139 |
|
|
|
|
|
|
|
|||||||||
|
|
|
|
|
Total Liabilities for Call Options Written: |
|
$ |
52,625,292 |
|
|
|
|
|
|
|
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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: |
January 29, 2009 |
|
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: |
January 29, 2009 |
|
|
|
|
|
|
By |
/s/ Todd Modic |
|
|
|
Todd Modic |
|
|
|
Senior Vice President and Chief Financial Officer |
|
|
|
|
|
|
Date: |
January 29, 2009 |
|