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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, 2009 |
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, 2009 (Unaudited) |
|
Shares |
|
|
|
|
|
Value |
|
|
COMMON STOCK: 90.8% |
|
|
|||||
|
|
|
|
|
Australia: 6.3% |
|
|
|
|
812,448 |
|
|
|
Australia & New Zealand Banking Group Ltd. |
|
$ |
16,468,618 |
|
1,505,123 |
|
|
|
Foster’s Group Ltd. |
|
7,745,344 |
|
|
3,296,509 |
|
|
|
Insurance Australia Group |
|
11,832,623 |
|
|
2,818,275 |
|
|
|
Macquarie Airports Management Ltd. |
|
6,853,407 |
|
|
1,465,565 |
|
|
|
Suncorp-Metway Ltd. |
|
11,780,261 |
|
|
3,798,152 |
|
|
|
Telstra Corp. Ltd. |
|
11,847,297 |
|
|
274,457 |
|
|
|
Wesfarmers Ltd. |
|
7,477,812 |
|
|
|
|
|
|
|
|
74,005,362 |
|
|
|
|
|
|
Canada: 1.7% |
|
|
|
|
336,784 |
|
|
|
Enerplus Resources Fund |
|
7,715,721 |
|
|
359,693 |
|
|
|
TransCanada Corp. |
|
11,631,914 |
|
|
|
|
|
|
|
|
19,347,635 |
|
|
|
|
|
|
Finland: 1.0% |
|
|
|
|
861,781 |
|
|
|
Nokia OYJ |
|
11,418,461 |
|
|
|
|
|
|
|
|
11,418,461 |
|
|
|
|
|
|
France: 6.5% |
|
|
|
|
256,097 |
|
|
|
Carrefour SA |
|
12,444,129 |
|
|
230,359 |
|
|
|
Sanofi-Aventis |
|
17,423,414 |
|
|
277,851 |
|
|
|
Total SA |
|
17,232,387 |
|
|
211,279 |
|
|
|
Vinci SA |
|
11,695,125 |
|
|
597,311 |
|
|
|
Vivendi |
|
17,222,820 |
|
|
|
|
|
|
|
|
76,017,875 |
|
|
|
|
|
|
Germany: 4.2% |
|
|
|
|
89,121 |
|
|
|
Allianz AG |
|
10,990,445 |
|
|
120,588 |
|
|
|
BASF AG |
|
7,289,074 |
|
|
88,842 |
|
|
|
Deutsche Boerse AG |
|
7,418,919 |
|
|
290,860 |
|
|
|
E.ON AG |
|
11,507,168 |
|
|
72,109 |
|
|
|
Muenchener Rueckversicherungs AG |
|
11,313,772 |
|
|
|
|
|
|
|
|
48,519,378 |
|
|
|
|
|
|
Hong Kong: 2.4% |
|
|
|
|
347,447 |
|
|
|
China Mobile Ltd. ADR |
|
16,284,841 |
|
|
768,382 |
|
|
|
Hang Seng Bank Ltd. |
|
11,233,848 |
|
|
|
|
|
|
|
|
27,518,689 |
|
|
|
|
|
|
Ireland: 0.6% |
|
|
|
|
288,962 |
|
|
|
CRH PLC |
|
7,354,453 |
|
|
|
|
|
|
|
|
7,354,453 |
|
|
|
|
|
|
Italy: 3.0% |
|
|
|
|
497,840 |
|
|
|
Banche Popolari Unite Scpa |
|
6,859,163 |
|
|
651,572 |
|
|
|
ENI S.p.A. |
|
16,163,777 |
|
|
2,347,785 |
|
|
|
Snam Rete Gas S.p.A. |
|
11,785,304 |
|
|
|
|
|
|
|
|
34,808,244 |
|
|
|
|
|
|
Japan: 4.4% |
|
|
|
|
6,477,600 |
|
|
|
Mizuho Financial Group, Inc. |
|
12,016,070 |
|
|
68,300 |
|
|
|
Nintendo Co. Ltd. |
|
16,705,049 |
|
|
7,561 |
|
|
|
NTT DoCoMo, Inc. |
|
11,431,124 |
|
|
273,700 |
|
|
|
Takeda Pharmaceutical Co. Ltd. |
|
11,365,235 |
|
|
|
|
|
|
|
|
51,517,478 |
|
|
|
|
|
|
Netherlands: 3.3% |
|
|
|
|
555,943 |
|
|
|
Royal Dutch Shell PLC |
|
16,582,147 |
|
|
605,416 |
|
|
|
Royal KPN NV |
|
10,733,303 |
|
|
352,980 |
|
|
|
Unilever NV |
|
10,799,689 |
|
|
|
|
|
|
|
|
38,115,139 |
|
|
|
|
|
|
Singapore: 0.6% |
|
|
|
|
684,500 |
|
|
|
DBS Group Holdings Ltd. |
|
7,092,773 |
|
|
|
|
|
|
|
|
7,092,773 |
|
|
|
|
|
|
South Korea: 1.5% |
|
|
|
|
671,097 |
|
|
|
KT Corp. ADR |
|
11,146,921 |
|
|
146,928 |
|
|
|
S-Oil Corp. |
|
6,900,624 |
|
|
|
|
|
|
|
|
18,047,545 |
|
|
|
|
|
|
Spain: 3.1% |
|
|
|
|
609,129 |
|
|
|
Banco Bilbao Vizcaya Argentaria SA |
|
11,523,426 |
|
|
976,249 |
|
|
|
Banco Santander Central Hispano SA |
|
16,805,570 |
|
|
255,458 |
|
|
|
Telefonica SA |
|
7,343,700 |
|
|
|
|
|
|
|
|
35,672,696 |
|
|
|
|
|
|
Switzerland: 1.0% |
|
|
|
|
210,677 |
|
|
|
Novartis AG ADR |
|
11,713,641 |
|
|
|
|
|
|
|
|
11,713,641 |
|
|
|
|
|
|
Taiwan: 1.0% |
|
|
|
|
1,143,923 |
|
|
|
Taiwan Semiconductor Manufacturing Co. Ltd. ADR |
|
11,885,360 |
|
|
|
|
|
|
|
|
11,885,360 |
|
|
|
|
|
|
United Kingdom: 9.9% |
|
|
|
|
250,760 |
|
|
|
AstraZeneca PLC |
|
11,242,109 |
|
|
1,726,557 |
|
|
|
BP PLC |
|
16,393,822 |
|
|
824,123 |
|
|
|
GlaxoSmithKline PLC |
|
17,062,604 |
|
|
638,379 |
|
|
|
HSBC Holdings PLC |
|
7,477,634 |
|
|
1,512,453 |
|
|
|
Reed Elsevier PLC |
|
11,333,430 |
|
|
748,478 |
|
|
|
Smiths Group PLC |
|
11,781,078 |
|
|
3,104,929 |
|
|
|
Thomas Cook Group PLC |
|
10,866,945 |
|
|
1,561,511 |
|
|
|
United Utilities Group PLC |
|
12,260,750 |
|
|
7,488,282 |
|
|
|
Vodafone Group PLC |
|
16,892,890 |
|
|
|
|
|
|
|
|
115,311,262 |
|
|
|
|
|
|
United States: 40.3% |
|
|
|
|
322,741 |
|
|
|
Abbott Laboratories |
|
17,586,159 |
|
|
389,071 |
|
|
|
Altria Group, Inc. |
|
7,318,426 |
|
|
454,883 |
|
|
|
Ameren Corp. |
|
11,822,409 |
|
|
361,671 |
|
|
|
American Electric Power Co., Inc. |
|
11,642,189 |
|
|
513,920 |
|
|
|
Arthur J. Gallagher & Co. |
|
11,511,808 |
|
|
645,071 |
|
|
|
AT&T, Inc. |
|
17,378,213 |
|
|
256,021 |
|
|
|
Automatic Data Processing, Inc. |
|
11,124,112 |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
|
Shares |
|
|
|
|
|
Value |
||||
|
|
|
|
|
United States (continued) |
|
|
||||
|
242,825 |
|
|
|
Bank of Hawaii Corp. |
|
$ |
11,097,103 |
|||
|
692,482 |
|
|
|
Bristol-Myers Squibb Co. |
|
17,526,719 |
||||
|
352,191 |
|
|
|
Campbell Soup Co. |
|
12,316,119 |
||||
|
143,851 |
|
|
|
Chevron Corp. |
|
11,226,132 |
||||
|
305,859 |
|
|
|
Coca-Cola Co. |
|
17,495,135 |
||||
|
220,583 |
|
|
|
ConocoPhillips |
|
11,419,582 |
||||
|
265,999 |
|
|
|
Consolidated Edison, Inc. |
|
11,414,017 |
||||
|
152,007 |
|
|
|
Cullen/Frost Bankers, Inc. |
|
7,299,376 |
||||
|
121,000 |
|
|
|
Dow Chemical Co. |
|
3,361,380 |
||||
|
342,077 |
|
|
|
EI Du Pont de Nemours & Co. |
|
11,829,023 |
||||
|
287,304 |
|
|
|
Emerson Electric Co. |
|
11,897,259 |
||||
|
304,556 |
|
|
|
Exelon Corp. |
|
14,673,508 |
||||
|
492,053 |
|
|
|
General Electric Co. |
|
7,882,689 |
||||
|
554,076 |
|
|
|
H&R Block, Inc. |
|
11,247,743 |
||||
|
284,118 |
|
|
|
Home Depot, Inc. |
|
7,773,468 |
||||
|
302,676 |
|
|
|
Honeywell International, Inc. |
|
11,643,946 |
||||
|
218,239 |
|
|
|
Kimberly-Clark Corp. |
|
14,397,227 |
||||
|
138,070 |
|
|
|
Kinder Morgan Energy Partners LP |
|
8,043,958 |
||||
|
598,302 |
|
|
|
Kraft Foods, Inc. |
|
15,902,867 |
||||
|
381,269 |
|
|
|
Leggett & Platt, Inc. |
|
7,419,495 |
||||
|
70,644 |
|
|
|
Lorillard, Inc. |
|
5,503,874 |
||||
|
231,445 |
|
|
|
McDonald’s Corp. |
|
14,638,896 |
||||
|
464,567 |
|
|
|
Merck & Co., Inc. |
|
16,821,971 |
||||
|
275,329 |
|
|
|
NYSE Euronext |
|
6,960,317 |
||||
|
975,639 |
|
|
|
Pfizer, Inc. |
|
17,727,361 |
||||
|
226,986 |
|
|
|
Philip Morris International, Inc. |
|
10,915,757 |
||||
|
454,399 |
|
|
|
Pitney Bowes, Inc. |
|
10,469,353 |
||||
|
185,816 |
|
|
|
Procter & Gamble Co. |
|
11,585,628 |
||||
|
148,120 |
|
|
|
Reynolds American, Inc. |
|
7,400,075 |
||||
|
969,632 |
|
|
|
Sara Lee Corp. |
|
11,771,332 |
||||
|
205,344 |
|
|
|
Snap-On, Inc. |
|
7,423,186 |
||||
|
450,113 |
|
|
|
Southern Co. |
|
14,444,126 |
||||
|
373,427 |
|
|
|
Spectra Energy Corp. |
|
7,248,218 |
||||
|
359,228 |
|
|
|
Waste Management, Inc. |
|
11,797,048 |
||||
|
|
|
|
|
|
|
468,957,204 |
||||
|
|
|
|
|
Total Common Stock |
|
|
||||
|
|
|
|
|
(Cost $922,836,849) |
|
1,057,303,195 |
||||
|
REAL ESTATE INVESTMENT TRUSTS: 3.1% |
|
|
||||||||
|
|
|
|
|
Australia: 0.6% |
|
|
||||
|
655,902 |
|
|
|
Westfield Group |
|
7,308,892 |
||||
|
|
|
|
|
|
|
7,308,892 |
||||
|
|
|
|
|
Netherlands: 0.6% |
|
|
||||
|
105,923 |
|
|
|
Corio NV |
|
7,236,635 |
||||
|
|
|
|
|
|
|
7,236,635 |
||||
|
|
|
|
|
United Kingdom: 0.6% |
|
|
||||
|
637,009 |
|
|
|
Land Securities Group PLC |
|
6,922,470 |
||||
|
|
|
|
|
|
|
6,922,470 |
||||
|
|
|
|
|
United States: 1.3% |
|
|
||||
|
116,740 |
|
|
|
Boston Properties, Inc. |
|
7,819,245 |
||||
|
179,990 |
|
|
|
Rayonier, Inc. |
|
7,152,803 |
||||
|
|
|
|
|
|
|
14,972,048 |
||||
|
|
|
|
|
Total Real Estate Investment Trusts |
|
|
||||
|
|
|
|
|
(Cost $31,342,578) |
|
36,440,045 |
||||
|
|
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
||||
|
# of |
|
|
|
|
|
|
||||
|
Contracts |
|
Counterparty |
|
|
|
Value |
||||
|
PURCHASED OPTIONS: 0.6% |
|
|
||||||||
|
|
|
|
|
European Union: 0.1% |
|
|
||||
|
7,000 |
|
ABN AMRO |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,524.9300 EUR, Expires 12/18/09 |
|
$ |
110,548 |
|||
|
7,000 |
|
Morgan Stanley |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,526.7100 EUR, Expires 02/19/10 |
|
590,390 |
||||
|
4,000 |
|
Deutsche Bank |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,590.3360 EUR, Expires 01/15/10 |
|
241,631 |
||||
|
20,000,000 |
|
Goldman Sachs |
|
European Union Currency Option (EUR/USD), Strike Price 1.3900, Expires 12/15/09 |
|
1,950 |
||||
|
30,000,000 |
|
Citigroup |
|
European Union Currency Option (EUR/USD), Strike Price 1.4050, Expires 02/22/10 |
|
211,097 |
||||
|
25,500,000 |
|
JP Morgan Securities |
|
European Union Currency Option (EUR/USD), Strike Price 1.4200, Expires 01/20/10 |
|
99,400 |
||||
|
|
|
|
|
|
|
1,255,016 |
||||
|
|
|
|
|
Japan: 0.1% |
|
|
||||
|
23,000,000 |
|
Citigroup |
|
Japanese Yen Currency Option (USD/JPY), Strike Price 93.5000, Expires 02/22/10 |
|
75,874 |
||||
|
23,000,000 |
|
Barclays Bank PLC |
|
Japanese Yen Currency Option (USD/JPY), Strike Price 95.7500, Expires 01/20/10 |
|
9,469 |
||||
|
27,500,000 |
|
Barclays Bank PLC |
|
Japanese Yen Currency Option (USD/JPY), Strike Price 97.0000, Expires 12/15/09 |
|
142 |
||||
|
108,000 |
|
Goldman Sachs |
|
Nikkei 225 Index, Strike Price 8,448.3000 JPY, Expires 02/19/10 |
|
224,535 |
||||
|
102,000 |
|
BARCLAYS |
|
Nikkei 225 Index, Strike Price 8,457.2400 JPY, Expires 02/19/10 |
|
214,156 |
||||
|
240,000 |
|
UBS Warburg |
|
Nikkei 225 Index, Strike Price 9,030.9600 JPY, Expires 12/18/09 |
|
339,473 |
||||
|
215,000 |
|
BNP Paribas |
|
Nikkei 225 Index, Strike Price 9,209.5500 JPY, Expires 01/15/10 |
|
708,652 |
||||
|
|
|
|
|
|
|
1,572,301 |
||||
|
|
|
|
|
United Kingdom: 0.1% |
|
|
||||
|
2,800 |
|
Goldman Sachs |
|
FTSE 100 Index, Strike Price 4,535.4878 GBP, Expires 12/18/10 |
|
41,509 |
||||
|
2,900 |
|
Goldman Sachs |
|
FTSE 100 Index, Strike Price 4,698.9000 GBP, Expires 01/15/10 |
|
229,372 |
||||
|
2,900 |
|
Barclays Bank PLC |
|
FTSE 100 Index, Strike Price 4,728.1900 GBP, Expires 02/19/10 |
|
474,722 |
||||
|
25,000,000 |
|
Goldman Sachs |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.5500, Expires 01/20/10 |
|
110,311 |
||||
|
25,000,000 |
|
Barclays Bank PLC |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.5600, Expires 02/22/10 |
|
267,785 |
||||
|
25,000,000 |
|
Goldman Sachs |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.5615, Expires 12/15/09 |
|
13,458 |
||||
|
|
|
|
|
|
|
1,137,157 |
||||
|
|
|
|
|
United States: 0.3% |
|
|
||||
|
110,000 |
|
Goldman Sachs |
|
S&P 500® Index, Strike Price 944.0000 USD, Expires 12/18/09 |
|
118,930 |
||||
|
105,000 |
|
Morgan Stanley |
|
S&P 500® Index, Strike Price 978.3050 USD, Expires 01/15/10 |
|
798,100 |
||||
|
108,000 |
|
Barclays Bank PLC |
|
S&P 500® Index, Strike Price 983.2700 USD, Expires 02/19/10 |
|
1,820,374 |
||||
|
|
|
|
|
|
|
2,737,404 |
||||
|
|
|
|
|
Total Purchased Options |
|
|
||||
|
|
|
|
|
(Cost $11,876,021) |
|
6,701,878 |
||||
|
|
|
|
|
Total Investments in Securities |
|
|
||||
|
|
|
|
|
(Cost $966,055,448)* |
94.5% |
|
$ |
1,100,445,118 |
||
|
|
|
|
|
Other Assets and Liabilities - Net |
5.5 |
|
63,897,360 |
|||
|
|
|
|
|
Net Assets |
100.0% |
|
$ |
1,164,342,478 |
||
|
|
|
|
|
|
|
|
||||
|
|
|
ADR |
|
American Depositary Receipt |
|
|
||||
|
|
|
* |
|
Cost for federal income tax purposes is $1,067,190,770. |
|
|
||||
|
|
|
|
|
Net unrealized appreciation consists of: |
|
|
||||
|
|
|
|
|
Gross Unrealized Appreciation |
|
$ |
163,289,058 |
|||
|
|
|
|
|
Gross Unrealized Depreciation |
|
(130,034,710) |
||||
|
|
|
|
|
Net Unrealized Appreciation |
|
$ |
33,254,348 |
|||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
|
|
|
Percentage of |
|
Industry |
|
Net Assets |
|
Agriculture |
|
2.7% |
|
Banks |
|
10.3 |
|
Beverages |
|
2.2 |
|
Building Materials |
|
0.6 |
|
Chemicals |
|
1.9 |
|
Commercial Services |
|
1.9 |
|
Cosmetics/Personal Care |
|
1.0 |
|
Diversified |
|
1.2 |
|
Diversified Financial Services |
|
1.2 |
|
Electric |
|
6.5 |
|
Electrical Components & Equipment |
|
1.0 |
|
Engineering & Construction |
|
1.6 |
|
Environmental Control |
|
1.0 |
|
Food |
|
5.4 |
|
Forest Products & Paper |
|
0.6 |
|
Gas |
|
1.0 |
|
Hand/Machine Tools |
|
0.7 |
|
Household Products/Wares |
|
1.3 |
|
Insurance |
|
3.9 |
|
Leisure Time |
|
0.9 |
|
Media |
|
2.5 |
|
Miscellaneous Manufacturing |
|
3.3 |
|
Office Property |
|
0.7 |
|
Office/Business Equipment |
|
0.9 |
|
Oil & Gas |
|
8.9 |
|
Pharmaceuticals |
|
11.9 |
|
Pipelines |
|
2.3 |
|
Purchased Options |
|
0.6 |
|
Retail |
|
2.6 |
|
Semiconductors |
|
1.0 |
|
Shopping Centers |
|
0.6 |
|
Telecommunications |
|
9.8 |
|
Toys/Games/Hobbies |
|
1.4 |
|
Water |
|
1.1 |
|
Other Assets and Liabilities - Net |
|
5.5 |
|
Net Assets |
|
100.0% |
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of November 30, 2009 in valuing the Fund’s assets and liabilities:
|
|
|
Quoted Prices |
|
Significant Other |
|
Significant |
|
|
|
||||
|
|
|
in Active Markets |
|
Observable |
|
Unobservable |
|
Fair Value |
|
||||
|
|
|
for Identical Investments |
|
Inputs# |
|
Inputs |
|
at |
|
||||
|
|
|
(Level 1) |
|
(Level 2) |
|
(Level 3) |
|
11/30/2009 |
|
||||
|
Asset Table |
|
|
|
|
|
|
|
|
|
||||
|
Investments, at value |
|
|
|
|
|
|
|
|
|
||||
|
Common Stock |
|
|
|
|
|
|
|
|
|
||||
|
Australia |
|
$ |
— |
|
$ |
74,005,362 |
|
$ |
— |
|
$ |
74,005,362 |
|
|
Canada |
|
19,347,635 |
|
— |
|
— |
|
19,347,635 |
|
||||
|
Finland |
|
— |
|
11,418,461 |
|
— |
|
11,418,461 |
|
||||
|
France |
|
— |
|
76,017,875 |
|
— |
|
76,017,875 |
|
||||
|
Germany |
|
— |
|
48,519,378 |
|
— |
|
48,519,378 |
|
||||
|
Hong Kong |
|
16,284,841 |
|
11,233,848 |
|
— |
|
27,518,689 |
|
||||
|
Ireland |
|
— |
|
7,354,453 |
|
— |
|
7,354,453 |
|
||||
|
Italy |
|
— |
|
34,808,244 |
|
— |
|
34,808,244 |
|
||||
|
Japan |
|
— |
|
51,517,478 |
|
— |
|
51,517,478 |
|
||||
|
Netherlands |
|
— |
|
38,115,139 |
|
— |
|
38,115,139 |
|
||||
|
Singapore |
|
— |
|
7,092,773 |
|
— |
|
7,092,773 |
|
||||
|
South Korea |
|
11,146,921 |
|
6,900,624 |
|
— |
|
18,047,545 |
|
||||
|
Spain |
|
— |
|
35,672,696 |
|
— |
|
35,672,696 |
|
||||
|
Switzerland |
|
11,713,641 |
|
— |
|
— |
|
11,713,641 |
|
||||
|
Taiwan |
|
11,885,360 |
|
— |
|
— |
|
11,885,360 |
|
||||
|
United Kingdom |
|
— |
|
115,311,262 |
|
— |
|
115,311,262 |
|
||||
|
United States |
|
468,957,204 |
|
— |
|
— |
|
468,957,204 |
|
||||
|
Total Common Stock |
|
539,335,602 |
|
517,967,593 |
|
— |
|
1,057,303,195 |
|
||||
|
Real Estate Investment Trusts |
|
14,972,048 |
|
21,467,997 |
|
— |
|
36,440,045 |
|
||||
|
Positions In Purchased Options |
|
— |
|
6,701,878 |
|
— |
|
6,701,878 |
|
||||
|
Total Investments, at value |
|
$ |
554,307,650 |
|
$ |
546,137,468 |
|
$ |
— |
|
$ |
1,100,445,118 |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Liabilities Table |
|
|
|
|
|
|
|
|
|
||||
|
Other Financial Instruments+: |
|
|
|
|
|
|
|
|
|
||||
|
Written options |
|
— |
|
(22,580,673) |
|
— |
|
(22,580,673) |
|
||||
|
Total Liabilities |
|
$ |
— |
|
$ |
(22,580,673) |
|
$ |
— |
|
$ |
(22,580,673) |
|
+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, futures, swaps, and written options. Forward foreign currency contracts and futures are reported at their unrealized gain/loss at measurement date which represents the amount due to/from the Fund. Swaps and written options are reported at their market value at measurement date.
# The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are catagorized as Level 2 investments.
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
Written OTC Call Options
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
|
Premiums |
|
|
||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
|
Received |
|
Value |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Options on Securities |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
99,000 |
|
Deutsche Bank |
|
Hang Seng Bank Ltd. |
|
12/16/09 |
|
111.3580 |
|
HKD |
|
$ |
31,437 |
|
$ |
(38,308) |
|
84,000 |
|
Morgan Stanley |
|
Abbott Laboratories |
|
12/16/09 |
|
51.7084 |
|
USD |
|
126,395 |
|
(247,445) |
||
|
71,000 |
|
UBS Warburg |
|
Automatic Data Processing |
|
12/16/09 |
|
41.8166 |
|
USD |
|
71,213 |
|
(114,166) |
||
|
94,000 |
|
Morgan Stanley |
|
American Electric Power Company, Inc. |
|
12/16/09 |
|
30.7238 |
|
USD |
|
83,481 |
|
(150,059) |
||
|
25,000 |
|
Morgan Stanley |
|
Allianz SE |
|
12/16/09 |
|
78.1300 |
|
EUR |
|
142,810 |
|
(172,646) |
||
|
204,000 |
|
Merrill Lynch |
|
Australia and New Zealand Banking Group Ltd. |
|
12/16/09 |
|
22.1400 |
|
AUD |
|
173,473 |
|
(102,491) |
||
|
63,000 |
|
UBS Warburg |
|
AstraZeneca PLC |
|
12/16/09 |
|
26.9200 |
|
GBP |
|
88,610 |
|
(63,831) |
||
|
34,000 |
|
Morgan Stanley |
|
BASF SE |
|
12/16/09 |
|
36.8600 |
|
EUR |
|
91,547 |
|
(179,760) |
||
|
157,000 |
|
ABN AMRO |
|
Banco Bilbao Vizcaya Argentaria, S.A. |
|
12/16/09 |
|
11.8510 |
|
EUR |
|
121,682 |
|
(186,172) |
||
|
195,000 |
|
UBS Warburg |
|
Bristol-Myers Squibb Co. |
|
12/16/09 |
|
22.7081 |
|
USD |
|
134,940 |
|
(517,754) |
||
|
454,000 |
|
Goldman Sachs |
|
BP PLC |
|
12/16/09 |
|
5.7027 |
|
GBP |
|
159,039 |
|
(100,657) |
||
|
30,000 |
|
SG Cowen |
|
Boston Properties, Inc. |
|
12/16/09 |
|
62.0100 |
|
USD |
|
109,758 |
|
(164,489) |
||
|
66,000 |
|
Goldman Sachs |
|
Carrefour S.A. |
|
12/16/09 |
|
30.7460 |
|
EUR |
|
117,730 |
|
(180,110) |
||
|
46,000 |
|
SG Cowen |
|
China Mobile Ltd. |
|
12/16/09 |
|
47.9917 |
|
USD |
|
88,748 |
|
(31,113) |
||
|
57,000 |
|
UBS Warburg |
|
ConocoPhillips |
|
12/16/09 |
|
51.9313 |
|
USD |
|
123,405 |
|
(56,643) |
||
|
75,000 |
|
UBS Warburg |
|
CRH PLC |
|
12/16/09 |
|
17.7973 |
|
EUR |
|
114,572 |
|
(32,399) |
||
|
37,000 |
|
Morgan Stanley |
|
Chevron Corp. |
|
12/16/09 |
|
76.8124 |
|
USD |
|
98,942 |
|
(83,938) |
||
|
23,000 |
|
BNP Paribas |
|
Deutsche Boerse A.G. |
|
12/16/09 |
|
54.7602 |
|
EUR |
|
104,547 |
|
(70,157) |
||
|
198,000 |
|
Merrill Lynch |
|
DBS Group Hldgs. Ltd. |
|
12/16/09 |
|
12.9600 |
|
SGD |
|
45,132 |
|
(195,307) |
||
|
89,000 |
|
Morgan Stanley |
|
E.I. du Pont de Nemours and Co. |
|
12/16/09 |
|
32.7654 |
|
USD |
|
146,254 |
|
(189,802) |
||
|
54,000 |
|
UBS Warburg |
|
Vinci S.A. |
|
12/16/09 |
|
35.7841 |
|
EUR |
|
156,131 |
|
(95,068) |
||
|
121,000 |
|
Merrill Lynch |
|
Dow Chemical Co. |
|
12/16/09 |
|
24.4000 |
|
USD |
|
195,536 |
|
(430,032) |
||
|
70,000 |
|
Deutsche Bank |
|
Cons Edison Inc. |
|
12/16/09 |
|
40.6510 |
|
USD |
|
65,002 |
|
(163,640) |
||
|
75,000 |
|
Morgan Stanley |
|
Emerson Electric Co. |
|
12/16/09 |
|
40.8782 |
|
USD |
|
103,628 |
|
(94,014) |
||
|
171,000 |
|
BNP Paribas |
|
Eni S.p.A |
|
12/16/09 |
|
16.8958 |
|
EUR |
|
152,578 |
|
(57,098) |
||
|
74,000 |
|
Deutsche Bank |
|
E.on AG |
|
12/16/09 |
|
25.9000 |
|
EUR |
|
113,474 |
|
(91,977) |
||
|
60,000 |
|
Deutsche Bank |
|
Exelon Corp. |
|
12/16/09 |
|
46.9182 |
|
USD |
|
92,508 |
|
(107,935) |
||
|
371,000 |
|
Goldman Sachs |
|
Foster’s Group Ltd. |
|
12/16/09 |
|
5.3700 |
|
AUD |
|
59,685 |
|
(93,438) |
||
|
71,000 |
|
ABN AMRO |
|
Total S.A. |
|
12/16/09 |
|
39.9710 |
|
EUR |
|
151,987 |
|
(176,520) |
||
|
129,000 |
|
UBS Warburg |
|
General Electric Co. |
|
12/16/09 |
|
14.3905 |
|
USD |
|
92,364 |
|
(218,797) |
||
|
208,000 |
|
Barclays Bank PLC |
|
GlaxoSmithKline PLC |
|
12/16/09 |
|
12.1115 |
|
GBP |
|
132,031 |
|
(179,417) |
||
|
74,000 |
|
SG Cowen |
|
Home Depot, Inc. |
|
12/16/09 |
|
25.7744 |
|
USD |
|
78,773 |
|
(113,736) |
||
|
79,000 |
|
UBS Warburg |
|
Honeywell International Inc. |
|
12/16/09 |
|
36.9917 |
|
USD |
|
119,843 |
|
(146,101) |
||
|
167,000 |
|
Goldman Sachs |
|
HSBC Holdings PLC |
|
12/16/09 |
|
6.6660 |
|
GBP |
|
80,328 |
|
(135,780) |
||
|
155,000 |
|
Goldman Sachs |
|
Kraft Foods, Inc. |
|
12/16/09 |
|
26.7300 |
|
USD |
|
115,180 |
|
(61,078) |
||
|
58,000 |
|
Citigroup |
|
Kimberly-Clark Corp. |
|
12/16/09 |
|
63.2100 |
|
USD |
|
71,340 |
|
(144,679) |
||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
|
Premiums |
|
|
||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
|
Received |
|
Value |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Options on Securities (continued) |
|
|
|
|
|
|
|
|
|
|
||||||
|
80,000 |
|
UBS Warburg |
|
Coca-Cola Co. |
|
12/16/09 |
|
53.8404 |
|
USD |
|
$ |
106,800 |
|
$ |
(277,506) |
|
156,000 |
|
Citigroup |
|
Koninklijke KPN NV |
|
12/16/09 |
|
12.2500 |
|
EUR |
|
90,506 |
|
(26,296) |
||
|
96,000 |
|
Morgan Stanley |
|
Leggett and Platt, Inc. |
|
12/16/09 |
|
19.5054 |
|
USD |
|
77,712 |
|
(32,330) |
||
|
18,000 |
|
Morgan Stanley |
|
Lorillard, Inc. |
|
12/16/09 |
|
78.3670 |
|
USD |
|
35,964 |
|
(25,125) |
||
|
61,000 |
|
Deutsche Bank |
|
McDonald’s Corp. |
|
12/16/09 |
|
60.6393 |
|
USD |
|
95,178 |
|
(174,149) |
||
|
102,000 |
|
Deutsche Bank |
|
Altria Group Inc |
|
12/16/09 |
|
18.6800 |
|
USD |
|
48,583 |
|
(34,192) |
||
|
138,000 |
|
Deutsche Bank |
|
Merck & Co. Inc. |
|
12/16/09 |
|
33.0800 |
|
USD |
|
135,350 |
|
(401,067) |
||
|
18,000 |
|
Goldman Sachs |
|
Muenchener Rueckver Ag-Reg |
|
12/16/09 |
|
106.1150 |
|
EUR |
|
103,145 |
|
(32,108) |
||
|
223,000 |
|
Citigroup |
|
Nokia OYJ |
|
12/16/09 |
|
8.7400 |
|
EUR |
|
136,012 |
|
(89,004) |
||
|
71,000 |
|
Deutsche Bank |
|
NYSE Euronext |
|
12/16/09 |
|
25.6485 |
|
USD |
|
99,258 |
|
(31,072) |
||
|
250,000 |
|
Morgan Stanley |
|
Pfizer Inc |
|
12/16/09 |
|
17.1856 |
|
USD |
|
160,250 |
|
(279,443) |
||
|
49,000 |
|
UBS Warburg |
|
Procter & Gamble Co. |
|
12/16/09 |
|
59.9564 |
|
USD |
|
73,402 |
|
(128,722) |
||
|
60,000 |
|
SG Cowen |
|
Philip Morris International, Inc. |
|
12/16/09 |
|
48.3648 |
|
USD |
|
85,608 |
|
(48,513) |
||
|
38,000 |
|
Merrill Lynch |
|
Reynolds American Inc. |
|
12/16/09 |
|
47.7900 |
|
USD |
|
70,034 |
|
(63,127) |
||
|
143,000 |
|
Goldman Sachs |
|
Royal Dutch Shell PLC |
|
12/16/09 |
|
19.8975 |
|
EUR |
|
139,677 |
|
(80,149) |
||
|
375,000 |
|
Barclays Bank PLC |
|
Reed Elsevier PLC |
|
12/16/09 |
|
4.7440 |
|
GBP |
|
109,471 |
|
(18,769) |
||
|
24,000 |
|
UBS Warburg |
|
Rayonier, Inc. |
|
12/16/09 |
|
38.8579 |
|
USD |
|
43,200 |
|
(30,737) |
||
|
58,000 |
|
Citigroup |
|
Sanofi-Aventis |
|
12/16/09 |
|
49.2300 |
|
EUR |
|
144,953 |
|
(141,635) |
||
|
97,000 |
|
Deutsche Bank |
|
Spectra Energy Corp. |
|
12/16/09 |
|
19.1281 |
|
USD |
|
69,559 |
|
(56,314) |
||
|
252,000 |
|
Morgan Stanley |
|
Sara Lee Corp. |
|
12/16/09 |
|
11.7126 |
|
USD |
|
133,258 |
|
(137,462) |
||
|
262,000 |
|
BNP Paribas |
|
Banco Santander S.A. |
|
12/16/09 |
|
10.8087 |
|
EUR |
|
185,367 |
|
(280,194) |
||
|
91,000 |
|
Morgan Stanley |
|
Southern Co. |
|
12/16/09 |
|
31.4500 |
|
USD |
|
77,559 |
|
(78,019) |
||
|
177,000 |
|
ABN AMRO |
|
Suncorp-Metway Ltd. |
|
12/16/09 |
|
8.3910 |
|
AUD |
|
69,617 |
|
(78,565) |
||
|
166,000 |
|
Citigroup |
|
AT&T, Inc. |
|
12/16/09 |
|
25.8600 |
|
USD |
|
124,500 |
|
(201,406) |
||
|
101,000 |
|
Citigroup |
|
Telefonica SA |
|
12/16/09 |
|
18.4000 |
|
EUR |
|
88,647 |
|
(123,968) |
||
|
944,000 |
|
Merrill Lynch |
|
Telstra Corp Ltd. |
|
12/16/09 |
|
3.2200 |
|
AUD |
|
93,681 |
|
(174,878) |
||
|
298,000 |
|
SG Cowen |
|
Taiwan Semiconductor Manufacturing Co. Ltd. |
|
12/16/09 |
|
9.7200 |
|
USD |
|
128,885 |
|
(220,090) |
||
|
92,000 |
|
Citigroup |
|
Unilever NV |
|
12/16/09 |
|
20.2100 |
|
EUR |
|
78,010 |
|
(73,441) |
||
|
152,000 |
|
Citigroup |
|
Vivendi |
|
12/16/09 |
|
19.0200 |
|
EUR |
|
162,804 |
|
(106,399) |
||
|
1,932,000 |
|
Citigroup |
|
Vodafone Group PLC |
|
12/16/09 |
|
1.3800 |
|
GBP |
|
128,180 |
|
(66,177) |
||
|
166,000 |
|
Merrill Lynch |
|
Westfield Group |
|
12/16/09 |
|
11.9300 |
|
AUD |
|
87,658 |
|
(77,684) |
||
|
73,000 |
|
ABN AMRO |
|
Wesfarmers Ltd. |
|
12/16/09 |
|
26.7050 |
|
AUD |
|
67,460 |
|
(210,884) |
||
|
95,000 |
|
Morgan Stanley |
|
Waste Management, Inc. |
|
12/16/09 |
|
31.3347 |
|
USD |
|
100,016 |
|
(164,791) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,304,407 |
|
$ |
(9,150,773) |
|
Options on Indices |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
5,150 |
|
Morgan Stanley |
|
Dow Jones Euro Stoxx 50 Index |
|
12/11/09 |
|
2,791.1200 |
|
EUR |
|
$ |
699,511 |
|
$ |
(383,202) |
|
4,900 |
|
Goldman Sachs |
|
Dow Jones Euro Stoxx 50 Index |
|
12/18/09 |
|
2,883.7600 |
|
EUR |
|
568,128 |
|
(149,906) |
||
|
5,400 |
|
ABN AMRO |
|
Dow Jones Euro Stoxx 50 Index |
|
01/15/10 |
|
2,840.5000 |
|
EUR |
|
761,863 |
|
(586,193) |
||
|
2,400 |
|
ABN AMRO |
|
FTSE 100 Index |
|
12/11/09 |
|
5,104.9600 |
|
GBP |
|
550,233 |
|
(527,688) |
||
|
2,300 |
|
Goldman Sachs |
|
FTSE 100 Index |
|
12/18/09 |
|
5,285.7800 |
|
GBP |
|
474,436 |
|
(201,246) |
||
|
2,400 |
|
Goldman Sachs |
|
FTSE 100 Index |
|
01/15/10 |
|
5,260.6992 |
|
GBP |
|
628,991 |
|
(473,145) |
||
|
177,500 |
|
ABN AMRO |
|
Nikkei-225 Stock Average |
|
12/11/09 |
|
10,009.9400 |
|
JPY |
|
594,321 |
|
(11,669) |
||
|
178,000 |
|
Morgan Stanley |
|
Nikkei-225 Stock Average |
|
12/18/09 |
|
9,779.2500 |
|
JPY |
|
510,953 |
|
(106,073) |
||
|
158,000 |
|
UBS Warburg |
|
Nikkei-225 Stock Average |
|
01/15/10 |
|
9,135.1610 |
|
JPY |
|
589,719 |
|
(849,519) |
||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
|
Premiums |
|
|
||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
|
Received |
|
Value |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
Options on Indices (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
89,000 |
|
Morgan Stanley |
|
S&P 500® Index |
|
12/11/09 |
|
1,056.2900 |
|
USD |
|
$ |
2,746,273 |
|
$ |
(3,936,338) |
|
86,000 |
|
Goldman Sachs |
|
S&P 500® Index |
|
12/18/09 |
|
1,093.1800 |
|
USD |
|
2,345,650 |
|
(1,888,392) |
||
|
87,500 |
|
Merrill Lynch |
|
S&P 500® Index |
|
01/15/10 |
|
1,096.1880 |
|
USD |
|
2,709,017 |
|
(2,725,818) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
13,179,095 |
|
$ |
(11,839,189) |
|
Options on Currencies |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
27,500,000 |
|
Barclays Bank PLC |
|
Japanese Yen Currency Option (USD/JPY) |
|
12/15/09 |
|
82.6500 |
|
USD |
|
$ |
159,500 |
|
$ |
(57,683) |
|
23,000,000 |
|
Barclays Bank PLC |
|
Japanese Yen Currency Option (USD/JPY) |
|
01/20/10 |
|
83.7000 |
|
USD |
|
167,900 |
|
(244,293) |
||
|
23,000,000 |
|
Citigroup |
|
Japanese Yen Currency Option (USD/JPY) |
|
02/22/10 |
|
83.8000 |
|
USD |
|
170,200 |
|
(384,886) |
||
|
20,000,000 |
|
Goldman Sachs |
|
European Union Currency Option (EUR/USD) |
|
12/15/09 |
|
15,308.0000 |
|
USD |
|
152,700 |
|
(45,641) |
||
|
25,500,000 |
|
JP Morgan Securities |
|
European Union Currency Option (EUR/USD) |
|
01/20/10 |
|
15,715.0000 |
|
USD |
|
191,250 |
|
(85,721) |
||
|
30,000,000 |
|
Citigroup |
|
European Union Currency Option (EUR/USD) |
|
02/22/10 |
|
1.5400 |
|
USD |
|
306,000 |
|
(403,078) |
||
|
25,000,000 |
|
Goldman Sachs |
|
United Kingdom Currency Option (GBP/USD) |
|
12/15/09 |
|
17,247.0000 |
|
USD |
|
201,750 |
|
(6,832) |
||
|
25,000,000 |
|
Goldman Sachs |
|
United Kingdom Currency Option (GBP/USD) |
|
01/20/10 |
|
17,141.0000 |
|
USD |
|
240,000 |
|
(126,965) |
||
|
25,000,000 |
|
Barclays Bank PLC |
|
United Kingdom Currency Option (GBP/USD) |
|
02/22/10 |
|
1.7225 |
|
USD |
|
271,250 |
|
(235,612) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,860,550 |
|
$ |
(1,590,711) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
22,344,052 |
|
$ |
(22,580,673) |
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of November 30, 2009 (Unaudited) (continued) |
On March 19, 2008, the FASB issued Statement of Financial Accounting Standards No. 161 (“SFAS No. 161”), “Disclosure about Derivative Instruments and Hedging Activities.” This new accounting statement requires enhanced disclosures about an entity’s derivative and hedging activities. Entities are required to provide enhanced disclosures about (a) how and why an entity invests in derivatives, (b) how derivatives are accounted for under SFAS No. 133, and ( c ) how derivatives affect an entity’s financial position, financial performance, and cash flows. SFAS No. 161 also requires enhanced disclosures regarding credit-risk related contingent features of derivative instruments.
The following is a summary of the fair valuations of the Fund’s derivative instruments categorized by risk exposure as of November 30, 2009:
|
|
|
Derivatives Fair Value* |
|
|
Equity contracts |
|
$ |
(15,077,570) |
|
Foreign exchange contracts |
|
(801,225) |
|
|
Total |
|
$ |
(15,878,795) |
* Forward foreign currency contracts and futures are reported at their unrealized gain/loss at measurement date which represents the amount due to/from the Fund. Swaps, purchased options and written options are reported at their market value at measurement date.
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 27, 2010 |
|
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 27, 2010 |
|
|
|
|
|
|
By |
/s/ Todd Modic |
|
|
|
Todd Modic |
|
|
|
Senior Vice President and Chief Financial Officer |
|
|
|
|
|
|
Date: |
January 27, 2010 |
|