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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, 2010 |
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, 2010 (Unaudited) |
|
Shares |
|
|
|
|
|
Value |
|
|
COMMON STOCK: 91.6% |
|
|
|||||
|
|
|
|
|
Australia: 4.9% |
|
|
|
|
363,178 |
|
|
|
Australia & New Zealand Banking Group Ltd. |
|
$ |
6,873,353 |
|
2,428,937 |
|
|
|
Foster’s Group Ltd. |
|
11,279,809 |
|
|
2,326,620 |
|
|
|
Insurance Australia Group |
|
7,160,644 |
|
|
3,054,724 |
|
|
|
Macquarie Airports Management Ltd. |
|
7,111,332 |
|
|
4,242,817 |
|
|
|
Telstra Corp. Ltd. |
|
10,574,152 |
|
|
284,659 |
|
|
|
Wesfarmers Ltd. |
|
6,925,032 |
|
|
|
|
|
|
|
|
49,924,322 |
|
|
|
|
|
|
Canada: 1.9% |
|
|
|
|
361,805 |
|
|
|
Enerplus Resources Fund |
|
7,974,182 |
|
|
338,676 |
|
|
|
TransCanada Corp. |
|
11,234,492 |
|
|
|
|
|
|
|
|
19,208,674 |
|
|
|
|
|
|
Finland: 1.5% |
|
|
|
|
1,469,239 |
|
|
|
Nokia OYJ |
|
14,759,338 |
|
|
|
|
|
|
|
|
14,759,338 |
|
|
|
|
|
|
France: 8.9% |
|
|
|
|
265,138 |
|
|
|
Bouygues S.A. |
|
11,089,827 |
|
|
242,107 |
|
|
|
Carrefour S.A. |
|
9,923,510 |
|
|
372,676 |
|
|
|
Gaz de France |
|
11,528,390 |
|
|
171,623 |
|
|
|
Lafarge S.A. |
|
9,787,355 |
|
|
155,521 |
|
|
|
Sanofi-Aventis |
|
9,309,501 |
|
|
322,944 |
|
|
|
Total S.A. |
|
14,960,788 |
|
|
234,865 |
|
|
|
Vinci S.A. |
|
10,480,061 |
|
|
628,819 |
|
|
|
Vivendi |
|
13,524,177 |
|
|
|
|
|
|
|
|
90,603,609 |
|
|
|
|
|
|
Germany: 5.4% |
|
|
|
|
151,426 |
|
|
|
Allianz AG |
|
15,127,811 |
|
|
220,376 |
|
|
|
BASF AG |
|
11,596,651 |
|
|
116,058 |
|
|
|
Deutsche Boerse AG |
|
7,101,119 |
|
|
380,397 |
|
|
|
E.ON AG |
|
11,526,556 |
|
|
79,075 |
|
|
|
Muenchener Rueckversicherungs AG |
|
10,026,430 |
|
|
|
|
|
|
|
|
55,378,567 |
|
|
|
|
|
|
Hong Kong: 2.6% |
|
|
|
|
336,384 |
|
|
|
China Mobile Ltd. ADR |
|
15,665,403 |
|
|
810,382 |
|
|
|
Hang Seng Bank Ltd. |
|
10,843,774 |
|
|
|
|
|
|
|
|
26,509,177 |
|
|
|
|
|
|
Ireland: 1.0% |
|
|
|
|
470,562 |
|
|
|
CRH PLC |
|
10,465,350 |
|
|
|
|
|
|
|
|
10,465,350 |
|
|
|
|
|
|
Italy: 3.1% |
|
|
|
|
754,977 |
|
|
|
Banche Popolari Unite Scpa |
|
6,731,693 |
|
|
774,149 |
|
|
|
ENI S.p.A. |
|
14,506,025 |
|
|
4,087,010 |
|
|
|
Intesa Sanpaolo S.p.A. |
|
10,645,480 |
|
|
|
|
|
|
|
|
31,883,198 |
|
|
|
|
|
|
Japan: 5.1% |
|
|
|
|
8,555,500 |
|
|
|
Mizuho Financial Group, Inc. |
|
15,400,480 |
|
|
51,200 |
|
|
|
Nintendo Co., Ltd. |
|
14,886,898 |
|
|
6,982 |
|
|
|
NTT DoCoMo, Inc. |
|
10,441,301 |
|
|
259,100 |
|
|
|
Takeda Pharmaceutical Co., Ltd. |
|
10,643,318 |
|
|
|
|
|
|
|
|
51,371,997 |
|
|
|
|
|
|
Netherlands: 2.4% |
|
|
|
|
556,005 |
|
|
|
Royal Dutch Shell PLC |
|
14,454,450 |
|
|
792,230 |
|
|
|
Royal KPN NV |
|
10,221,659 |
|
|
|
|
|
|
|
|
24,676,109 |
|
|
|
|
|
|
Singapore: 1.1% |
|
|
|
|
1,116,500 |
|
|
|
DBS Group Holdings Ltd. |
|
10,991,356 |
|
|
|
|
|
|
|
|
10,991,356 |
|
|
|
|
|
|
Spain: 2.2% |
|
|
|
|
898,737 |
|
|
|
Banco Bilbao Vizcaya Argentaria S.A. |
|
9,275,147 |
|
|
716,620 |
|
|
|
Telefonica S.A. |
|
13,606,210 |
|
|
|
|
|
|
|
|
22,881,357 |
|
|
|
|
|
|
Switzerland: 2.2% |
|
|
|
|
328,358 |
|
|
|
Credit Suisse Group |
|
12,673,784 |
|
|
210,677 |
|
|
|
Novartis AG ADR |
|
9,482,572 |
|
|
|
|
|
|
|
|
22,156,356 |
|
|
|
|
|
|
Taiwan: 1.5% |
|
|
|
|
1,558,104 |
|
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. ADR |
|
15,191,514 |
|
|
|
|
|
|
|
|
15,191,514 |
|
|
|
|
|
|
United Kingdom: 11.6% |
|
|
|
|
253,179 |
|
|
|
AstraZeneca PLC |
|
10,642,965 |
|
|
1,970,417 |
|
|
|
BP PLC |
|
14,046,256 |
|
|
574,587 |
|
|
|
GlaxoSmithKline PLC |
|
9,556,098 |
|
|
794,457 |
|
|
|
HSBC Holdings PLC |
|
7,161,349 |
|
|
1,690,061 |
|
|
|
Reed Elsevier PLC |
|
11,703,410 |
|
|
6,005,119 |
|
|
|
Royal & Sun Alliance Insurance Group |
|
10,116,345 |
|
|
724,582 |
|
|
|
Scottish & Southern Energy PLC |
|
10,959,874 |
|
|
728,135 |
|
|
|
Smiths Group PLC |
|
10,809,296 |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
|
Shares |
|
|
|
|
|
Value |
|
|
|
|
|
|
United Kingdom (continued) |
|
|
|
|
3,506,756 |
|
|
|
Thomas Cook Group PLC |
|
$ |
10,451,035 |
|
1,589,369 |
|
|
|
United Utilities Group PLC |
|
12,342,680 |
|
|
4,897,682 |
|
|
|
Vodafone Group PLC |
|
9,701,382 |
|
|
|
|
|
|
|
|
117,490,690 |
|
|
|
|
|
|
United States: 36.2% |
|
|
|
|
214,113 |
|
|
|
Abbott Laboratories |
|
10,183,214 |
|
|
405,940 |
|
|
|
Altria Group, Inc. |
|
8,236,523 |
|
|
470,946 |
|
|
|
Ameren Corp. |
|
11,613,528 |
|
|
368,685 |
|
|
|
American Electric Power Co., Inc. |
|
11,783,173 |
|
|
446,012 |
|
|
|
Arthur J. Gallagher & Co. |
|
11,012,036 |
|
|
640,252 |
|
|
|
AT&T, Inc. |
|
15,558,124 |
|
|
276,965 |
|
|
|
Automatic Data Processing, Inc. |
|
11,322,329 |
|
|
654,392 |
|
|
|
Bristol-Myers Squibb Co. |
|
15,188,438 |
|
|
346,459 |
|
|
|
Campbell Soup Co. |
|
12,406,697 |
|
|
152,311 |
|
|
|
Chevron Corp. |
|
11,251,214 |
|
|
218,677 |
|
|
|
ConocoPhillips |
|
11,340,589 |
|
|
280,213 |
|
|
|
Consolidated Edison, Inc. |
|
11,934,272 |
|
|
153,216 |
|
|
|
Cullen/Frost Bankers, Inc. |
|
8,408,494 |
|
|
255,842 |
|
|
|
Diebold, Inc. |
|
7,414,301 |
|
|
314,602 |
|
|
|
EI Du Pont de Nemours & Co. |
|
11,379,154 |
|
|
389,927 |
|
|
|
Exelon Corp. |
|
15,051,182 |
|
|
271,759 |
|
|
|
Kimberly-Clark Corp. |
|
16,495,775 |
|
|
127,858 |
|
@ |
|
Kinder Morgan Energy Partners LP |
|
8,118,983 |
|
|
548,550 |
|
|
|
Kraft Foods, Inc. |
|
15,688,530 |
|
|
381,778 |
|
|
|
Leggett & Platt, Inc. |
|
8,887,792 |
|
|
109,719 |
|
|
|
Lorillard, Inc. |
|
7,843,811 |
|
|
241,560 |
|
|
|
McDonald’s Corp. |
|
16,153,117 |
|
|
315,563 |
|
|
|
Merck & Co., Inc. |
|
10,631,317 |
|
|
267,329 |
|
|
|
NYSE Euronext |
|
7,664,322 |
|
|
1,012,093 |
|
|
|
Pfizer, Inc. |
|
15,414,176 |
|
|
243,122 |
|
|
|
Philip Morris International, Inc. |
|
10,726,543 |
|
|
681,357 |
|
|
|
Pitney Bowes, Inc. |
|
15,425,922 |
|
|
228,337 |
|
|
|
Reynolds American, Inc. |
|
11,905,491 |
|
|
597,237 |
|
|
|
Sara Lee Corp. |
|
8,462,848 |
|
|
365,549 |
|
|
|
Southern Co. |
|
11,953,452 |
|
|
364,634 |
|
|
|
Spectra Energy Corp. |
|
7,296,326 |
|
|
352,774 |
|
|
|
Waste Management, Inc. |
|
11,468,683 |
|
|
|
|
|
|
|
|
368,220,356 |
|
|
|
|
|
|
Total Common Stock |
|
|
|
|
|
|
|
|
(Cost $967,546,488) |
|
931,711,970 |
|
|
REAL ESTATE INVESTMENT TRUSTS: 2.7% |
|
|
|||||
|
|
|
|
|
Australia: 0.8% |
|
|
|
|
755,298 |
|
|
|
Westfield Group |
|
8,121,455 |
|
|
|
|
|
|
|
|
8,121,455 |
|
|
|
|
|
|
Netherlands: 0.5% |
|
|
|
|
113,739 |
|
|
|
Corio NV |
|
5,386,702 |
|
|
|
|
|
|
|
|
5,386,702 |
|
|
|
|
|
|
United Kingdom: 0.7% |
|
|
|
|
822,577 |
|
|
|
Land Securities Group PLC |
|
7,103,878 |
|
|
|
|
|
|
|
|
7,103,878 |
|
|
|
|
|
|
United States: 0.7% |
|
|
|
|
154,669 |
|
|
|
Rayonier, Inc. |
|
6,941,545 |
|
|
|
|
|
|
|
|
6,941,545 |
|
|
|
|
|
|
Total Real Estate Investment Trusts |
|
|
|
|
|
|
|
|
(Cost $28,868,453) |
|
27,553,580 |
|
|
PURCHASED OPTIONS: 1.1% |
|
|
|||||
|
|
|
|
|
European Union: 0.4% |
|
|
|
|
3,500 |
|
@ |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,053.8100 EUR, Expires 08/20/10 |
|
124,940 |
|
|
3,000 |
|
@ |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,563.8500 EUR, Expires 06/18/10 |
|
222,560 |
|
|
4,000 |
|
@ |
|
Dow Jones Euro Stoxx 50 Index, Strike Price 2,621.0900 EUR, Expires 07/16/10 |
|
626,701 |
|
|
25,000,000 |
|
@ |
|
European Union Currency Option (EUR/USD), Strike Price 1.1450, Expires 08/20/10 |
|
240,856 |
|
|
28,500,000 |
|
@ |
|
European Union Currency Option (EUR/USD), Strike Price 1.2850, Expires 07/20/10 |
|
1,475,816 |
|
|
29,500,000 |
|
@ |
|
European Union Currency Option (EUR/USD), Strike Price 1.2880, Expires 06/21/10 |
|
1,471,319 |
|
|
|
|
|
|
|
|
4,162,192 |
|
|
|
|
|
|
Japan: 0.1% |
|
|
|
|
24,000,000 |
|
@ |
|
Japanese Yen Currency Option (USD/JPY), Strike Price 94.5000, Expires 06/21/10 |
|
41,786 |
|
|
20,000,000 |
|
@ |
|
Japanese Yen Currency Option (USD/JPY), Strike Price 96.0000, Expires 08/20/10 |
|
111,887 |
|
|
24,000,000 |
|
@ |
|
Japanese Yen Currency Option (USD/JPY), Strike Price 97.0000, Expires 07/20/10 |
|
42,188 |
|
|
102,000 |
|
@ |
|
Nikkei 225 Index, Strike Price 8,249.7800 JPY, Expires 08/20/10 |
|
155,854 |
|
|
95,000 |
|
@ |
|
Nikkei 225 Index, Strike Price 9,902.2800 JPY, Expires 06/18/10 |
|
357,748 |
|
|
100,000 |
|
@ |
|
Nikkei 225 Index, Strike Price 10,174.8000 JPY, Expires 07/16/10 |
|
680,243 |
|
|
|
|
|
|
|
|
1,389,706 |
|
|
|
|
|
|
United Kingdom: 0.2% |
|
|
|
|
1,300 |
|
@ |
|
FTSE 100 Index, Strike Price 4,232.8500 GBP, Expires 08/20/10 |
|
82,359 |
|
|
1,300 |
|
@ |
|
FTSE 100 Index, Strike Price 5,169.3000 GBP, Expires 06/18/10 |
|
202,254 |
|
|
1,300 |
|
@ |
|
FTSE 100 Index, Strike Price 5,266.9500 GBP, Expires 07/16/10 |
|
418,630 |
|
|
16,000,000 |
|
@ |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.3100, Expires 08/20/10 |
|
97,541 |
|
|
22,500,000 |
|
@ |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.4180, Expires 06/21/10 |
|
181,126 |
|
|
22,500,000 |
|
@ |
|
United Kingdom Currency Option (GBP/USD), Strike Price 1.4450, Expires 07/20/10 |
|
484,351 |
|
|
|
|
|
|
|
|
1,466,261 |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
|
Shares |
|
|
|
|
|
Value |
||
|
|
|
|
|
United States: 0.4% |
|
|
||
|
48,000 |
|
@ |
|
S&P 500® Index, Strike Price 1,068.3800 USD, Expires 06/18/10 |
|
$ |
995,047 |
|
|
47,000 |
|
@ |
|
S&P 500® Index, Strike Price 1,094.9200 USD, Expires 07/16/10 |
|
2,193,177 |
||
|
51,000 |
|
@ |
|
S&P 500® Index, Strike Price 902.2000 USD, Expires 08/20/10 |
|
702,895 |
||
|
|
|
|
|
|
|
3,891,119 |
||
|
|
|
|
|
Total Purchased Options |
|
|
||
|
|
|
|
|
(Cost $6,715,030) |
|
10,909,278 |
||
|
|
|
|
|
Total Investments in Securities |
|
|
||
|
|
|
|
|
(Cost $1,003,129,971)* |
95.4% |
|
$ |
970,174,828 |
|
|
|
|
|
Other Assets and Liabilities - Net |
4.6 |
|
47,078,216 |
|
|
|
|
|
|
Net Assets |
100.0% |
|
$ |
1,017,253,044 |
|
|
|
|
|
|
|
|
||
|
|
|
@ |
|
Non-income producing security |
|
|
||
|
|
|
ADR |
|
American Depositary Receipt |
|
|
||
|
|
|
* |
|
Cost for federal income tax purposes is $1,068,195,098. |
|
|
||
|
|
|
|
|
Net unrealized depreciation consists of: |
|
|
||
|
|
|
|
|
Gross Unrealized Appreciation |
|
$ |
62,140,888 |
|
|
|
|
|
|
Gross Unrealized Depreciation |
|
(160,161,158) |
||
|
|
|
|
|
Net Unrealized Depreciation |
|
$ |
(98,020,270) |
|
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
|
|
|
Percentage of |
|
Industry |
|
Net Assets |
|
Consumer Discretionary |
|
6.0% |
|
Consumer Staples |
|
11.8 |
|
Energy |
|
11.3 |
|
European Union |
|
0.4 |
|
Financials |
|
19.1 |
|
Health Care |
|
9.9 |
|
Industrials |
|
6.5 |
|
Information Technology |
|
6.3 |
|
Japan |
|
0.1 |
|
Materials |
|
4.3 |
|
Telecommunication Services |
|
8.4 |
|
United Kingdom |
|
0.2 |
|
United States |
|
0.4 |
|
Utilities |
|
10.7 |
|
Other Assets and Liabilities - Net |
|
4.6 |
|
Net Assets |
|
100.0% |
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of May 31, 2010 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) |
|
5/31/2010 |
||||
|
Asset Table |
|
|
|
|
|
|
|
|
||||
|
Investments, at value |
|
|
|
|
|
|
|
|
||||
|
Common Stock |
|
|
|
|
|
|
|
|
||||
|
Australia |
|
$ |
— |
|
$ |
49,924,322 |
|
$ |
— |
|
$ |
49,924,322 |
|
Canada |
|
19,208,674 |
|
— |
|
— |
|
19,208,674 |
||||
|
Finland |
|
— |
|
14,759,338 |
|
— |
|
14,759,338 |
||||
|
France |
|
— |
|
90,603,609 |
|
— |
|
90,603,609 |
||||
|
Germany |
|
— |
|
55,378,567 |
|
— |
|
55,378,567 |
||||
|
Hong Kong |
|
15,665,403 |
|
10,843,774 |
|
— |
|
26,509,177 |
||||
|
Ireland |
|
— |
|
10,465,350 |
|
— |
|
10,465,350 |
||||
|
Italy |
|
— |
|
31,883,198 |
|
— |
|
31,883,198 |
||||
|
Japan |
|
— |
|
51,371,997 |
|
— |
|
51,371,997 |
||||
|
Netherlands |
|
— |
|
24,676,109 |
|
— |
|
24,676,109 |
||||
|
Singapore |
|
— |
|
10,991,356 |
|
— |
|
10,991,356 |
||||
|
Spain |
|
— |
|
22,881,357 |
|
— |
|
22,881,357 |
||||
|
Switzerland |
|
9,482,572 |
|
12,673,784 |
|
— |
|
22,156,356 |
||||
|
Taiwan |
|
15,191,514 |
|
— |
|
— |
|
15,191,514 |
||||
|
United Kingdom |
|
— |
|
117,490,690 |
|
— |
|
117,490,690 |
||||
|
United States |
|
368,220,356 |
|
— |
|
— |
|
368,220,356 |
||||
|
Total Common Stock |
|
427,768,519 |
|
503,943,451 |
|
— |
|
931,711,970 |
||||
|
Real Estate Investment Trusts |
|
6,941,545 |
|
20,612,035 |
|
— |
|
27,553,580 |
||||
|
Positions In Purchased Options |
|
— |
|
10,909,278 |
|
— |
|
10,909,278 |
||||
|
Total Investments, at value |
|
$ |
434,710,064 |
|
$ |
535,464,764 |
|
$ |
— |
|
$ |
970,174,828 |
|
|
|
|
|
|
|
|
|
|
||||
|
Liabilities Table |
|
|
|
|
|
|
|
|
||||
|
Other Financial Instruments+: |
|
|
|
|
|
|
|
|
||||
|
Written options |
|
— |
|
(7,447,302) |
|
— |
|
(7,447,302) |
||||
|
Total Liabilities |
|
$ |
— |
|
$ |
(7,447,302) |
|
$ |
— |
|
$ |
(7,447,302) |
+ 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 categorized as Level 2 investments.
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
Written OTC Call Options
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
|
Premiums |
|
|
||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
|
Received |
|
Value |
||
|
Options on Securities |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
85,000 |
|
Morgan Stanley |
|
Australia & New Zealand Banking Group Ltd. |
|
06/02/10 |
|
25.2375 |
|
AUD |
|
$ |
39,448 |
|
$ |
(27) |
|
605,000 |
|
Citigroup |
|
Foster’s Group Ltd. |
|
06/02/10 |
|
5.4828 |
|
AUD |
|
79,227 |
|
(39,075) |
||
|
568,000 |
|
Merrill Lynch |
|
Insurance Australia Group |
|
06/02/10 |
|
3.8350 |
|
AUD |
|
56,868 |
|
(723) |
||
|
1,040,000 |
|
Morgan Stanley |
|
Telstra Corp. Ltd. |
|
06/02/10 |
|
3.1700 |
|
AUD |
|
97,942 |
|
(1,098) |
||
|
68,000 |
|
Citigroup |
|
Wesfarmers Ltd. |
|
06/02/10 |
|
30.6500 |
|
AUD |
|
63,471 |
|
(847) |
||
|
177,000 |
|
BNP Paribas |
|
Westfield Group |
|
06/02/10 |
|
12.3500 |
|
AUD |
|
56,845 |
|
(73,333) |
||
|
33,000 |
|
Societe General |
|
Allianz SE |
|
06/02/10 |
|
86.7920 |
|
EUR |
|
123,781 |
|
(1,493) |
||
|
198,000 |
|
Merrill Lynch |
|
Banco Bilbao Vizcaya Argentaria S.A. |
|
06/02/10 |
|
10.6900 |
|
EUR |
|
124,949 |
|
(67) |
||
|
48,000 |
|
Societe General |
|
BASF SE |
|
06/02/10 |
|
45.4150 |
|
EUR |
|
97,947 |
|
(1,734) |
||
|
56,000 |
|
Nomura |
|
Bouygues S.A. |
|
06/02/10 |
|
37.1728 |
|
EUR |
|
108,374 |
|
(1,786) |
||
|
59,000 |
|
Goldman Sachs & Co. |
|
Carrefour S.A. |
|
06/02/10 |
|
36.9400 |
|
EUR |
|
91,337 |
|
(126) |
||
|
27,000 |
|
BNP Paribas |
|
Deutsche Boerse AG |
|
06/02/10 |
|
53.3700 |
|
EUR |
|
66,281 |
|
(1,417) |
||
|
78,000 |
|
Deutsche Bank |
|
E.ON AG |
|
06/02/10 |
|
26.8853 |
|
EUR |
|
80,189 |
|
(65) |
||
|
172,000 |
|
ABN AMRO Bank, N.V. |
|
ENI S.p.A. |
|
06/02/10 |
|
17.0220 |
|
EUR |
|
104,191 |
|
(3) |
||
|
78,000 |
|
Nomura |
|
GDF Suez |
|
06/02/10 |
|
27.0840 |
|
EUR |
|
81,269 |
|
(891) |
||
|
41,000 |
|
Morgan Stanley |
|
Lafarge S.A. |
|
06/02/10 |
|
56.0400 |
|
EUR |
|
112,445 |
|
— |
||
|
17,000 |
|
Barclays Bank PLC |
|
Muenchener Rueckversicherungs AG |
|
06/02/10 |
|
114.6600 |
|
EUR |
|
68,965 |
|
(5) |
||
|
269,000 |
|
Goldman Sachs & Co. |
|
Nokia OYJ |
|
06/02/10 |
|
10.8400 |
|
EUR |
|
196,435 |
|
— |
||
|
134,000 |
|
Goldman Sachs & Co. |
|
Royal Dutch Shell PLC |
|
06/02/10 |
|
22.8900 |
|
EUR |
|
73,091 |
|
(179) |
||
|
37,000 |
|
BNP Paribas |
|
Sanofi-Aventis |
|
06/02/10 |
|
51.7900 |
|
EUR |
|
68,579 |
|
(708) |
||
|
169,000 |
|
ABN AMRO Bank, N.V. |
|
Telefonica SA |
|
06/02/10 |
|
17.2350 |
|
EUR |
|
44,549 |
|
(224) |
||
|
70,000 |
|
UBS |
|
Total S.A. |
|
06/02/10 |
|
42.1470 |
|
EUR |
|
105,775 |
|
(6) |
||
|
50,000 |
|
Citigroup |
|
Vinci S.A. |
|
06/02/10 |
|
42.5900 |
|
EUR |
|
91,863 |
|
— |
||
|
151,000 |
|
Citigroup |
|
Vivendi |
|
06/02/10 |
|
18.9860 |
|
EUR |
|
114,589 |
|
(291) |
||
|
61,000 |
|
Barclays Bank PLC |
|
AstraZeneca PLC |
|
06/02/10 |
|
29.3249 |
|
GBP |
|
70,183 |
|
(21,284) |
||
|
410,000 |
|
ABN AMRO Bank, N.V. |
|
BP PLC |
|
06/02/10 |
|
6.4580 |
|
GBP |
|
82,638 |
|
— |
||
|
140,000 |
|
Citigroup |
|
GlaxoSmithKline PLC |
|
06/02/10 |
|
12.6060 |
|
GBP |
|
42,866 |
|
(22) |
||
|
188,000 |
|
ABN AMRO Bank, N.V. |
|
HSBC Holdings PLC |
|
06/02/10 |
|
6.8490 |
|
GBP |
|
53,513 |
|
(32) |
||
|
197,000 |
|
Deutsche Bank |
|
Land Securities Group PLC |
|
06/02/10 |
|
6.6454 |
|
GBP |
|
50,558 |
|
(4) |
||
|
370,000 |
|
Goldman Sachs & Co. |
|
Reed Elsevier PLC |
|
06/02/10 |
|
5.2025 |
|
GBP |
|
76,170 |
|
(2) |
||
|
1,167,000 |
|
Deutsche Bank |
|
Vodafone Group PLC |
|
06/02/10 |
|
1.5011 |
|
GBP |
|
33,218 |
|
(3) |
||
|
196,000 |
|
Morgan Stanley |
|
Hang Seng Bank Ltd. |
|
06/02/10 |
|
107.7000 |
|
HKD |
|
35,358 |
|
(571) |
||
|
268,000 |
|
Goldman Sachs & Co. |
|
DBS Group Holdings Ltd |
|
06/02/10 |
|
15.1000 |
|
SGD |
|
79,141 |
|
— |
||
|
53,000 |
|
UBS |
|
Abbott Laboratories |
|
06/02/10 |
|
51.1848 |
|
USD |
|
55,067 |
|
(14) |
||
|
98,000 |
|
Goldman Sachs & Co. |
|
Altria Group, Inc. |
|
06/02/10 |
|
21.2600 |
|
USD |
|
37,916 |
|
(313) |
||
|
114,000 |
|
BNP Paribas |
|
Ameren Corp. |
|
06/02/10 |
|
26.5500 |
|
USD |
|
66,109 |
|
(23) |
||
|
90,000 |
|
Deutsche Bank |
|
American Electric Power Co., Inc. |
|
06/02/10 |
|
33.7500 |
|
USD |
|
41,922 |
|
(250) |
||
|
158,000 |
|
ABN AMRO Bank, N.V. |
|
AT&T, Inc. |
|
06/02/10 |
|
25.9050 |
|
USD |
|
90,850 |
|
(66) |
||
|
68,000 |
|
Deutsche Bank |
|
Automatic Data Processing, Inc. |
|
06/02/10 |
|
44.6840 |
|
USD |
|
63,811 |
|
— |
||
|
163,000 |
|
UBS |
|
Bristol-Myers Squibb Co. |
|
06/02/10 |
|
24.4363 |
|
USD |
|
128,607 |
|
(2,891) |
||
|
84,000 |
|
Morgan Stanley |
|
Campbell Soup Co. |
|
06/02/10 |
|
35.5400 |
|
USD |
|
64,176 |
|
(43,579) |
||
|
37,000 |
|
Merrill Lynch |
|
Chevron Corp. |
|
06/02/10 |
|
81.0000 |
|
USD |
|
56,388 |
|
(10) |
||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
|
Premiums |
|
|
||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
|
Received |
|
Value |
||
|
Options on Securities (continued) |
|
|
|
|
|
|
|
|
|
|
||||||
|
79,000 |
|
Citigroup |
|
China Mobile Ltd. |
|
06/02/10 |
|
49.1600 |
|
USD |
|
127,506 |
|
(2,425) |
||
|
53,000 |
|
Nomura |
|
ConocoPhillips |
|
06/02/10 |
|
55.8137 |
|
USD |
|
90,535 |
|
(204) |
||
|
68,000 |
|
Deutsche Bank |
|
Consolidated Edison, Inc. |
|
06/02/10 |
|
44.2867 |
|
USD |
|
48,817 |
|
(204) |
||
|
77,000 |
|
Morgan Stanley |
|
EI Du Pont de Nemours & Co. |
|
06/02/10 |
|
38.7180 |
|
USD |
|
73,920 |
|
(997) |
||
|
93,000 |
|
Merrill Lynch |
|
Exelon Corp. |
|
06/02/10 |
|
43.3300 |
|
USD |
|
58,962 |
|
(1) |
||
|
67,000 |
|
Merrill Lynch |
|
Kimberly-Clark Corp. |
|
06/02/10 |
|
61.7100 |
|
USD |
|
72,494 |
|
(4,215) |
||
|
31,000 |
|
Citigroup |
|
Kinder Morgan Energy Partners LP |
|
06/02/10 |
|
67.7500 |
|
USD |
|
20,987 |
|
(32) |
||
|
133,000 |
|
Goldman Sachs & Co. |
|
Kraft Foods, Inc. |
|
06/02/10 |
|
30.1100 |
|
USD |
|
87,301 |
|
(796) |
||
|
93,000 |
|
Citigroup |
|
Leggett & Platt, Inc. |
|
06/02/10 |
|
23.9700 |
|
USD |
|
64,635 |
|
(10,598) |
||
|
27,000 |
|
Merrill Lynch |
|
Lorillard, Inc. |
|
06/02/10 |
|
78.9500 |
|
USD |
|
46,386 |
|
(7) |
||
|
60,000 |
|
Barclays Bank PLC |
|
McDonald’s Corp. |
|
06/02/10 |
|
70.5300 |
|
USD |
|
72,792 |
|
(133) |
||
|
76,000 |
|
BNP Paribas |
|
Merck & Co., Inc. |
|
06/02/10 |
|
34.0600 |
|
USD |
|
83,433 |
|
(17,523) |
||
|
51,000 |
|
Goldman Sachs & Co. |
|
Novartis AG ADR |
|
06/02/10 |
|
51.9200 |
|
USD |
|
56,666 |
|
— |
||
|
63,000 |
|
ABN AMRO Bank, N.V. |
|
NYSE Euronext |
|
06/02/10 |
|
32.1750 |
|
USD |
|
77,868 |
|
(36) |
||
|
243,000 |
|
Citigroup |
|
Pfizer, Inc. |
|
06/02/10 |
|
16.4100 |
|
USD |
|
97,686 |
|
(144) |
||
|
59,000 |
|
UBS |
|
Philip Morris International, Inc. |
|
06/02/10 |
|
50.5794 |
|
USD |
|
77,290 |
|
— |
||
|
38,000 |
|
BNP Paribas |
|
Rayonier, Inc. |
|
06/02/10 |
|
48.0600 |
|
USD |
|
49,506 |
|
(465) |
||
|
56,000 |
|
Citigroup |
|
Reynolds American, Inc. |
|
06/02/10 |
|
55.8600 |
|
USD |
|
63,784 |
|
(60) |
||
|
147,000 |
|
Citigroup |
|
Sara Lee Corp. |
|
06/02/10 |
|
14.0500 |
|
USD |
|
51,597 |
|
(41,123) |
||
|
89,000 |
|
Barclays Bank PLC |
|
Southern Co. |
|
06/02/10 |
|
33.7400 |
|
USD |
|
48,683 |
|
(2,398) |
||
|
89,000 |
|
Deutsche Bank |
|
Spectra Energy Corp. |
|
06/02/10 |
|
23.0000 |
|
USD |
|
45,034 |
|
(1) |
||
|
372,000 |
|
Citigroup |
|
Taiwan Semiconductor Manufacturing Co., Ltd. ADR |
|
06/02/10 |
|
10.7300 |
|
USD |
|
132,060 |
|
(244) |
||
|
86,000 |
|
Morgan Stanley |
|
Waste Management, Inc. |
|
06/02/10 |
|
35.0250 |
|
USD |
|
54,524 |
|
(23) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,879,367 |
|
$ |
(274,791) |
|
Options on Indices |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
4,825 |
|
ABN AMRO Bank, N.V. |
|
Dow Jones Euro Stoxx 50 Index |
|
06/04/10 |
|
2,879.7500 |
|
EUR |
|
$ |
522,672 |
|
$ |
(462) |
|
5,500 |
|
Barclays Bank PLC |
|
Dow Jones Euro Stoxx 50 Index |
|
06/18/10 |
|
2,546.7000 |
|
EUR |
|
823,470 |
|
(719,722) |
||
|
4,700 |
|
Morgan Stanley |
|
Dow Jones Euro Stoxx 50 Index |
|
07/02/10 |
|
2,505.5800 |
|
EUR |
|
766,938 |
|
(890,884) |
||
|
1,700 |
|
ABN AMRO Bank, N.V. |
|
FTSE 100 Index |
|
06/04/10 |
|
5,699.6900 |
|
GBP |
|
332,239 |
|
(46) |
||
|
1,700 |
|
Goldman Sachs & Co. |
|
FTSE 100 Index |
|
06/18/10 |
|
5,205.9000 |
|
GBP |
|
462,004 |
|
(234,364) |
||
|
1,700 |
|
Morgan Stanley |
|
FTSE 100 Index |
|
07/02/10 |
|
4,981.2800 |
|
GBP |
|
504,027 |
|
(669,874) |
||
|
133,500 |
|
Merrill Lynch |
|
Nikkei-225 Stock Average |
|
06/04/10 |
|
11,142.2400 |
|
JPY |
|
402,899 |
|
(32) |
||
|
130,000 |
|
Goldman Sachs & Co. |
|
Nikkei-225 Stock Average |
|
06/18/10 |
|
10,442.2800 |
|
JPY |
|
561,020 |
|
(63,378) |
||
|
134,000 |
|
Goldman Sachs & Co. |
|
Nikkei-225 Stock Average |
|
07/02/10 |
|
9,808.1800 |
|
JPY |
|
654,030 |
|
(469,906) |
||
|
63,500 |
|
Barclays Bank PLC |
|
S&P 500® Index |
|
06/04/10 |
|
1,191.2200 |
|
USD |
|
1,675,911 |
|
(1,352) |
||
|
62,400 |
|
RBS LONDON (SP) |
|
S&P 500® Index |
|
06/18/10 |
|
1,133.0100 |
|
USD |
|
2,148,494 |
|
(544,853) |
||
|
65,600 |
|
Goldman Sachs & Co. |
|
S&P 500® Index |
|
07/02/10 |
|
1,080.0700 |
|
USD |
|
2,945,171 |
|
(2,690,188) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,798,875 |
|
$ |
(6,285,061) |
|
Options on Currencies |
|
|
|
|
|
|
|
|
|
|
|
|
||||
|
28,500,000 |
|
Citigroup |
|
European Union Currency Option (EUR/USD) |
|
07/20/10 |
|
1.3965 |
|
USD |
|
$ |
213,750 |
|
$ |
(10,671) |
|
29,500,000 |
|
JP Morgan Securities |
|
European Union Currency Option (EUR/USD) |
|
06/21/10 |
|
1.4022 |
|
USD |
|
221,250 |
|
(821) |
||
|
25,000,000 |
|
JP Morgan Securities |
|
European Union Currency Option (EUR/USD) |
|
08/20/10 |
|
1.2920 |
|
USD |
|
312,500 |
|
(253,667) |
||
|
24,000,000 |
|
Goldman Sachs & Co. |
|
Japanese Yen Currency Option (USD/JPY) |
|
06/21/10 |
|
85.9200 |
|
USD |
|
144,000 |
|
(47,130) |
||
|
24,000,000 |
|
Goldman Sachs & Co. |
|
Japanese Yen Currency Option (USD/JPY) |
|
07/20/10 |
|
87.8900 |
|
USD |
|
150,000 |
|
(232,597) |
||
|
20,000,000 |
|
Barclays Bank PLC |
|
Japanese Yen Currency Option (USD/JPY) |
|
08/20/10 |
|
83.6500 |
|
USD |
|
160,000 |
|
(121,480) |
||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (Unaudited) (continued) |
|
# of |
|
|
|
|
|
Expiration |
|
|
|
|
|
Premiums |
|
|
||
|
Contracts |
|
Counterparty |
|
Description |
|
Date |
|
Strike |
|
|
|
Received |
|
Value |
||
|
Options on Currencies (continued) |
|
|
|
|
|
|
|
|
|
|
||||||
|
22,500,000 |
|
Barclays Bank PLC |
|
United Kingdom Currency Option (GBP/USD) |
|
06/21/10 |
|
1.5660 |
|
USD |
|
202,500 |
|
(3,153) |
||
|
22,500,000 |
|
Barclays Bank PLC |
|
United Kingdom Currency Option (GBP/USD) |
|
07/20/10 |
|
1.5975 |
|
USD |
|
180,000 |
|
(13,100) |
||
|
16,000,000 |
|
JP Morgan Securities |
|
United Kingdom Currency Option (GBP/USD) |
|
08/20/10 |
|
1.4984 |
|
USD |
|
198,400 |
|
(204,831) |
||
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,782,400 |
|
$ |
(887,450) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
|
|
|
|
|
|
Total Written Call Options: |
|
$ |
18,460,642 |
|
$ |
(7,447,302) |
||||
|
|
|
PORTFOLIO OF INVESTMENTS |
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
as of May 31, 2010 (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 May 31, 2010:
|
|
|
Derivatives Fair Value* |
|
|
Equity contracts |
|
$ |
202,556 |
|
Foreign exchange contracts |
|
3,259,420 |
|
|
Total |
|
$ |
3,461,976 |
* 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: |
July 21, 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: |
July 21, 2010 |
|
|
|
|
|
|
By |
/s/ Todd Modic |
|
|
|
Todd Modic |
|
|
|
Senior Vice President and Chief Financial Officer |
|
|
|
|
|
|
Date: |
July 21, 2010 |
|