Regulatory Filings • Nov 22, 2017
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Download Source FileN-Q 1 d433572dnq.htm BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST BlackRock Enhanced Global Dividend Trust
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: 811-21729
Name of Fund: BlackRock Enhanced Global Dividend Trust (Formerly BlackRock Global Opportunities
Equity Trust) (BOE)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Enhanced
Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust), 55 East 52 nd Street,
New York, NY 10055
Registrants telephone number, including area code: (800) 882-0052, Option 4
Date of fiscal year end: 12/31/2017
Date of reporting period: 09/30/2017
Item 1 Schedule of Investments
Schedule of Investments September 30, 2017 (Unaudited) BlackRock Enhanced Global Dividend Trust (BOE) (Percentages shown are based on Net Assets)
| Common Stocks | Value | |
|---|---|---|
| Australia 2.9% | ||
| Amcor Ltd. (a) | 597,893 | $ 7,151,014 |
| Ansell Ltd. (a) | 567,983 | 9,953,205 |
| Ensogo, Ltd. (a)(b)(c) | 418,198 | |
| Sonic Healthcare Ltd. (a) | 735,839 | 12,091,910 |
| 29,196,129 | ||
| Belgium 2.2% | ||
| Anheuser-Busch InBev SA (a) | 93,835 | 11,216,775 |
| bpost SA (a) | 368,579 | 10,961,873 |
| 22,178,648 | ||
| Canada 5.6% | ||
| Rogers Communications, Inc., Class B (a) | 549,686 | 28,344,458 |
| TELUS Corp. (a) | 756,418 | 27,207,405 |
| 55,551,863 | ||
| China 1.0% | ||
| ANTA Sports Products Ltd. (a) | 2,405,000 | 10,113,709 |
| Denmark 1.2% | ||
| Novo Nordisk A/S, Class B (a) | 254,434 | 12,232,863 |
| Finland 2.0% | ||
| Kone OYJ, Class B (a) | 376,923 | 19,980,419 |
| France 3.3% | ||
| Sanofi (a) | 324,066 | 32,259,678 |
| Germany 2.7% | ||
| Deutsche Post AG, Registered Shares (a) | 596,618 | 26,593,819 |
| Hong Kong 1.2% | ||
| Sands China Ltd. (a) | 2,282,000 | 11,935,087 |
| Japan 2.4% | ||
| Japan Tobacco, Inc. (a) | 713,300 | 23,375,512 |
| Netherlands 1.2% | ||
| Heineken NV (a) | 120,022 | 11,876,474 |
| Sweden 1.4% | ||
| Svenska Handelsbanken AB, Class A (a) | 937,035 | 14,157,006 |
| Switzerland 10.3% | ||
| Givaudan SA, Registered Shares (a) | 7,300 | 15,892,003 |
| Nestle SA, Registered Shares (a) | 302,545 | 25,396,003 |
| Novartis AG, Registered Shares (a) | 358,963 | 30,790,030 |
| Roche Holding AG (a) | 70,063 | 17,909,514 |
| SGS SA, Registered Shares (a) | 5,070 | 12,174,462 |
| 102,162,012 | ||
| Taiwan 2.6% | ||
| Far EasTone Telecommunications Co. Ltd. (a) | 3,304,000 | 7,860,743 |
| Common Stocks | Value | |
|---|---|---|
| Taiwan (continued) | ||
| Taiwan Semiconductor Manufacturing Co. Ltd. (a) | 2,493,000 | $ 17,856,003 |
| 25,716,746 | ||
| United Kingdom 16.2% | ||
| AstraZeneca PLC (a) | 374,819 | 24,925,993 |
| British American Tobacco PLC (a) | 638,859 | 39,994,941 |
| Diageo PLC (a) | 461,355 | 15,171,890 |
| GlaxoSmithKline PLC (a) | 872,498 | 17,441,766 |
| Imperial Brands PLC (a) | 818,036 | 34,914,406 |
| Lloyds Banking Group PLC (a) | 9,630,811 | 8,752,065 |
| Unilever PLC (a) | 350,723 | 20,299,608 |
| 161,500,669 | ||
| United States 42.1% | ||
| 3M Co. (a)(d) | 88,255 | 18,524,724 |
| AbbVie, Inc. (a) | 208,912 | 18,563,920 |
| Altria Group, Inc. (a) | 637,734 | 40,445,090 |
| Cisco Systems, Inc. (a) | 829,702 | 27,902,878 |
| Citizens Financial Group, Inc. (a) | 297,440 | 11,264,053 |
| Coca-Cola Co. (a) | 525,688 | 23,661,217 |
| Genuine Parts Co. (a) | 287,055 | 27,456,811 |
| H&R Block, Inc. (a) | 682,719 | 18,078,399 |
| International Paper Co. (a) | 430,158 | 24,441,577 |
| Johnson & Johnson (a) | 265,397 | 34,504,264 |
| M&T Bank Corp. (a) | 96,920 | 15,607,997 |
| Microsoft Corp. (a)(d) | 249,977 | 18,620,787 |
| PepsiCo, Inc. (a) | 149,949 | 16,708,817 |
| Pfizer, Inc. (a)(d) | 277,058 | 9,890,971 |
| Philip Morris International, Inc. (a) | 256,801 | 28,507,479 |
| Procter & Gamble Co. (a) | 198,745 | 18,081,820 |
| Strategic Growth Bancorp, (Acquired 3/10/14, cost $5,461,692) (b)(c)(e) | 120,312 | 3,955,884 |
| U.S. Bancorp (a) | 282,060 | 15,115,595 |
| United Parcel Service, Inc., Class B (a) | 103,122 | 12,383,921 |
| United Technologies Corp. (a) | 168,496 | 19,559,016 |
| Wells Fargo & Co. (a) | 282,799 | 15,596,365 |
| 418,871,585 | ||
| Total Common Stocks 98.3% | 977,702,219 | |
| Preferred Stocks | ||
| India 0.1% | ||
| Jasper Infotech Private Ltd., Series F, (Acquired 5/7/14, cost $1,888,464), 0.00% (b)(c)(e) | 266 | 745,228 |
BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017 1
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
| Preferred Stocks | Value | |
|---|---|---|
| India (continued) | ||
| Jasper Infotech Private Ltd., Series G, (Acquired 10/29/14, cost $741,913), 0.00% (b)(c)(e) | 88 | $ 301,377 |
| 1,046,605 | ||
| United States 1.5% | ||
| Palantir Technologies, Inc., Series I (Acquired 2/7/14, cost $3,118,944), 0.00% (b)(c)(e) | 508,800 | 2,884,896 |
| Uber Technologies, Inc., Series D (Acquired 6/06/14, cost $3,845,800), 0.00% (b)(c)(e) | 247,908 | 12,246,655 |
| 15,131,551 | ||
| Total Preferred Stocks 1.6% | 16,178,156 | |
| Total Long-Term Investments (Cost $965,693,724) 99.9% | 993,880,375 |
| Short-Term Securities — BlackRock Liquidity Funds, T-Fund, Institutional
Class, 0.91% (f)(g) | Value — $ 6,787,805 | |
| --- | --- | --- |
| Total Short-Term Securities (Cost $6,787,805) 0.7% | 6,787,805 | |
| Total Investments Before Options Written (Cost $972,481,529) 100.6% | 1,000,668,180 | |
| Options Written (Premiums Received $6,911,049) (1.0)% | (9,893,608 | ) |
| Total Investments, Net of Options Written (Cost $965,570,480) 99.6% | 990,774,572 | |
| Other Assets Less Liabilities 0.4% | 3,903,068 | |
| Net Assets 100.0% | $ 994,677,640 | |
Notes to Schedule of Investments
(a) All or a portion of security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.
(b) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.
(c) Non-income producing security.
(d) All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives.
(e) Restricted security as to resale, excluding 144A securities. As of period end, the Trust held restricted securities with a current value of $20,134,014 and an original cost of $15,056,813, which was 2.0% of its net assets.
(f) Annualized 7-day yield as of period end.
(g) During the period ended September 30, 2017, investments in issuers considered to be affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:
| Affiliate — BlackRock T-Fund, Institutional Class | 11,863,116 | (5,075,311 | 6,787,805 | Value at September 30, 2017 — $ 6,787,805 | Income — $ 106,472 | | | |
|---|---|---|---|---|---|---|---|---|
| SL Liquidity Series, LLC, Money Market Series | | | | | 32,561 | 1 | | |
| Total | $ 6,787,805 | $ 139,033 | | | ||||
| 1 Represents | ||||||||
| securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities. |
2 BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
Portfolio Abbreviations
| ADR | American Depositary Receipts |
|---|---|
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| EUR | Euro |
| GBP | British Pound |
| HKD | Hong Kong Dollar |
| JPY | Japanese Yen |
| SEK | Swedish Krona |
| OTC | Over-the-Counter |
| USD | U.S. Dollar |
Derivative Financial Instruments Outstanding as of Period End
| Exchange-Traded Options Written — Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||
|---|---|---|---|---|---|---|---|---|---|
| Call | |||||||||
| Pfizer, Inc. | 96 | 10/05/17 | USD | 33.55 | USD | (343 | ) | $ (20,703 | ) |
| Cisco Systems, Inc. | 553 | 10/06/17 | USD | 32.00 | USD | (1,860 | ) | (90,416 | ) |
| Johnson & Johnson | 165 | 10/06/17 | USD | 133.00 | USD | (2,145 | ) | (1,650 | ) |
| Pepsico, Inc. | 171 | 10/06/17 | USD | 117.00 | USD | (1,905 | ) | (855 | ) |
| Pfizer, Inc. | 63 | 10/06/17 | USD | 34.00 | USD | (225 | ) | (11,025 | ) |
| Procter & Gamble Co. | 113 | 10/06/17 | USD | 92.50 | USD | (1,028 | ) | (734 | ) |
| Pfizer, Inc. | 170 | 10/12/17 | USD | 33.75 | USD | (607 | ) | (33,558 | ) |
| Altria Group, Inc. | 303 | 10/13/17 | USD | 65.25 | USD | (1,922 | ) | (6,636 | ) |
| Cisco Systems, Inc. | 822 | 10/13/17 | USD | 32.00 | USD | (2,764 | ) | (136,041 | ) |
| International Paper Co. | 572 | 10/13/17 | USD | 56.00 | USD | (3,250 | ) | (71,786 | ) |
| Johnson & Johnson | 164 | 10/13/17 | USD | 133.00 | USD | (2,132 | ) | (3,280 | ) |
| Microsoft Corp. | 226 | 10/13/17 | USD | 75.50 | USD | (1,683 | ) | (8,136 | ) |
| Procter & Gamble Co. | 228 | 10/13/17 | USD | 93.00 | USD | (2,074 | ) | (2,736 | ) |
| United Technologies Corp. | 245 | 10/13/17 | USD | 122.00 | USD | (2,844 | ) | (3,430 | ) |
| AbbVie, Inc. | 438 | 10/20/17 | USD | 75.45 | USD | (3,892 | ) | (566,978 | ) |
| Altria Group, Inc. | 1,326 | 10/20/17 | USD | 65.00 | USD | (8,409 | ) | (55,692 | ) |
| Cisco Systems, Inc. | 692 | 10/20/17 | USD | 31.00 | USD | (2,327 | ) | (181,650 | ) |
| Coca-Cola Co. | 174 | 10/20/17 | USD | 45.60 | USD | (783 | ) | (3,805 | ) |
| Genuine Parts Co. | 633 | 10/20/17 | USD | 87.50 | USD | (6,055 | ) | (525,390 | ) |
| H&R Black, Inc. | 1,738 | 10/20/17 | USD | 27.00 | USD | (4,602 | ) | (60,830 | ) |
| International Paper Co. | 190 | 10/20/17 | USD | 57.50 | USD | (1,080 | ) | (11,495 | ) |
| M&T Bank Corp. | 226 | 10/20/17 | USD | 165.00 | USD | (3,640 | ) | (31,075 | ) |
| M&T Bank Corp. | 200 | 10/20/17 | USD | 155.00 | USD | (3,221 | ) | (144,000 | ) |
| Microsoft Corp. | 333 | 10/20/17 | USD | 72.50 | USD | (2,481 | ) | (78,921 | ) |
| Pepsico, Inc. | 317 | 10/20/17 | USD | 113.00 | USD | (3,532 | ) | (25,677 | ) |
| Pfizer, Inc. | 479 | 10/20/17 | USD | 34.00 | USD | (1,710 | ) | (84,783 | ) |
| Philip Morris International, Inc. | 480 | 10/20/17 | USD | 115.75 | USD | (5,328 | ) | (13,729 | ) |
| Procter & Gamble Co. | 114 | 10/20/17 | USD | 92.50 | USD | (1,037 | ) | (4,560 | ) |
| Wells Fargo & Co. | 85 | 10/20/17 | USD | 50.00 | USD | (469 | ) | (44,838 | ) |
| 3M Co. | 88 | 10/27/17 | USD | 215.00 | USD | (1,847 | ) | (14,828 | ) |
| 3M Co. | 88 | 10/27/17 | USD | 217.50 | USD | (1,847 | ) | (9,020 | ) |
| AbbVie, Inc. | 81 | 10/27/17 | USD | 87.00 | USD | (720 | ) | (26,001 | ) |
| Altria Group, Inc. | 714 | 10/27/17 | USD | 64.50 | USD | (4,528 | ) | (54,621 | ) |
| Cisco Systems, Inc. | 492 | 10/27/17 | USD | 32.50 | USD | (1,655 | ) | (56,826 | ) |
| International Paper Co. | 574 | 10/27/17 | USD | 55.00 | USD | (3,261 | ) | (142,065 | ) |
| Microsoft Corp. | 217 | 10/27/17 | USD | 74.00 | USD | (1,616 | ) | (43,509 | ) |
BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017 3
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
| Exchange-Traded Options Written (continued) — Description | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||
|---|---|---|---|---|---|---|---|---|---|
| Pfizer, Inc. | 364 | 10/27/17 | USD | 35.50 | USD | (1,299 | ) | $ (22,750 | ) |
| Procter & Gamble Co. | 79 | 10/27/17 | USD | 95.00 | USD | (719 | ) | (1,106 | ) |
| U.S. Bancorp | 74 | 10/27/17 | USD | 52.00 | USD | (397 | ) | (15,429 | ) |
| United Parcel Service, Class B | 206 | 10/27/17 | USD | 118.00 | USD | (2,474 | ) | (70,040 | ) |
| United Parcel Service, Inc., Class BL | 247 | 10/27/17 | USD | 119.00 | USD | (2,966 | ) | (65,579 | ) |
| United Technologies Corp. | 245 | 10/27/17 | USD | 117.00 | USD | (2,844 | ) | (44,468 | ) |
| Johnson & Johnson | 425 | 11/01/17 | USD | 134.75 | USD | (5,525 | ) | (27,755 | ) |
| 3M Co. | 212 | 11/03/17 | USD | 212.50 | USD | (4,450 | ) | (62,116 | ) |
| AbbVie, Inc. | 200 | 11/03/17 | USD | 87.50 | USD | (1,777 | ) | (63,300 | ) |
| Cisco Systems, Inc. | 79 | 11/03/17 | USD | 33.00 | USD | (266 | ) | (6,478 | ) |
| Cisco Systems, Inc. | 321 | 11/03/17 | USD | 33.50 | USD | (1,080 | ) | (16,852 | ) |
| Coca-Cola Co. | 589 | 11/03/17 | USD | 46.00 | USD | (2,651 | ) | (16,786 | ) |
| U.S. Bancorp | 616 | 11/03/17 | USD | 54.00 | USD | (3,301 | ) | (57,288 | ) |
| International Paper Co. | 382 | 11/10/17 | USD | 58.00 | USD | (2,171 | ) | (37,818 | ) |
| Microsoft Corp. | 216 | 11/10/17 | USD | 74.50 | USD | (1,609 | ) | (43,848 | ) |
| United Technologies Corp. | 251 | 11/10/17 | USD | 120.00 | USD | (2,914 | ) | (29,116 | ) |
| Wells Fargo & Co. | 533 | 11/10/17 | USD | 54.50 | USD | (2,939 | ) | (85,280 | ) |
| Pfizer, Inc. | 525 | 11/13/17 | USD | 35.40 | USD | (1,874 | ) | (38,326 | ) |
| AT&T, Inc. | 1,422 | 11/17/17 | CAD | 45.00 | CAD | (6,382 | ) | (72,368 | ) |
| AbbVie, Inc. | 200 | 11/17/17 | USD | 87.50 | USD | (1,777 | ) | (72,500 | ) |
| Altria Group, Inc. | 316 | 11/17/17 | USD | 64.01 | USD | (2,004 | ) | (44,672 | ) |
| Cisco Systems, Inc. | 691 | 11/17/17 | USD | 34.00 | USD | (2,324 | ) | (43,188 | ) |
| Coca-Cola Co. | 175 | 11/17/17 | USD | 46.00 | USD | (788 | ) | (6,737 | ) |
| Coca-Cola Co. | 196 | 11/17/17 | USD | 47.00 | USD | (882 | ) | (2,744 | ) |
| Genuine Parts Co. | 630 | 11/17/17 | USD | 87.50 | USD | (6,026 | ) | (548,100 | ) |
| International Paper Co. | 174 | 11/17/17 | USD | 57.50 | USD | (989 | ) | (22,359 | ) |
| Johnson & Johnson | 290 | 11/17/17 | USD | 135.00 | USD | (3,770 | ) | (22,185 | ) |
| Microsoft Corp. | 107 | 11/17/17 | USD | 77.50 | USD | (797 | ) | (8,988 | ) |
| Pepsico, Inc. | 171 | 11/17/17 | USD | 115.00 | USD | (1,905 | ) | (14,877 | ) |
| Philip Morris International, Inc. | 573 | 11/17/17 | USD | 115.00 | USD | (6,361 | ) | (63,030 | ) |
| Procter & Gamble Co. | 340 | 11/17/17 | USD | 92.50 | USD | (3,093 | ) | (28,220 | ) |
| U.S. Bancorp | 232 | 11/17/17 | USD | 52.50 | USD | (1,243 | ) | (45,704 | ) |
| U.S. Bancorp | 319 | 11/17/17 | USD | 55.00 | USD | (1,710 | ) | (21,852 | ) |
| Wells Fargo & Co. | 93 | 11/17/17 | USD | 52.50 | USD | (513 | ) | (29,295 | ) |
| Wells Fargo & Co. | 533 | 12/15/17 | USD | 55.00 | USD | (2,939)73 | (95,940 | ) | |
| Total | $ (4,418,373 | ) |
| OTC Options Written — Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Call | ||||||||||
| Ansell Ltd. | Citibank N.A. | 54,000 | 10/04/17 | AUD | 22.74 | AUD | (1,206 | ) | $ (4,920 | ) |
| bpost SA | Morgan Stanley & Co. International PLC | 36,700 | 10/04/17 | EUR | 23.64 | EUR | 923 | (66,141 | ) | |
| Sonic Healthcare Ltd. | UBS AG | 114,800 | 10/04/17 | AUD | 22.52 | AUD | (2,405 | ) | | |
| Rogers Communications, Inc., Class B | Deutsche Bank AG | 104,000 | 10/05/17 | CAD | 64.80 | CAD | (6,691 | ) | (27,191 | ) |
| AMC Entertainment Holdings, Inc. | Citibank N.A. | 85,500 | 10/11/17 | AUD | 16.18 | AUD | 1,304 | (602 | ) | |
| ANTA Sports Products Ltd. | UBS AG | 577,000 | 10/11/17 | HKD | 32.60 | HKD | 18,954 | (84,683 | ) | |
| Ansell Ltd. | UBS AG | 71,000 | 10/11/17 | AUD | 21.64 | AUD | 1,586 | (43,369 | ) | |
| Japan Tobacco, Inc. | JPMorgan Chase Bank N.A. | 71,700 | 10/11/17 | JPY | 3,760.43 | JPY | 264,397 | (9,689 | ) |
4 BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
| OTC Options Written (continued) — Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||
|---|---|---|---|---|---|---|---|---|---|
| Call | |||||||||
| Sands China Ltd. | Goldman Sachs International | 547,600 | 10/11/17 | HKD | 35.31 | HKD | 22,375 | $ (389,583 | ) |
| bpost SA | Goldman Sachs International | 25,800 | 10/11/17 | EUR | 24.13 | EUR | 649 | (32,473 | ) |
| Svenska Handelsbanken AB, Class A | Goldman Sachs International | 225,200 | 10/17/17 | SEK | 116.62 | SEK | 27,713 | (188,977 | ) |
| Heico Corp. | Goldman Sachs International | 32,100 | 10/18/17 | EUR | 87.70 | EUR | 2,687 | (3,081 | ) |
| KONE Oyj | Morgan Stanley & Co. International PLC | 50,300 | 10/18/17 | EUR | 45.71 | EUR | 2,256 | (21,664 | ) |
| Llyods Banking Group PLC | Goldman Sachs International | 2,312,500 | 10/18/17 | GBP | 0.63 | GBP | 1,573 | (142,307 | ) |
| Nestle SA | Bank of America N.A. | 73,100 | 10/18/17 | CHF | 81.10 | CHF | 5,942 | (96,585 | ) |
| Novan, Inc. | Goldman Sachs International | 157,900 | 10/18/17 | CHF | 80.52 | CHF | 13,115 | (464,274 | ) |
| Novo Nordisk A/S | Goldman Sachs International | 61,400 | 10/18/17 | DKK | 303.49 | DKK | 18,587 | (52,430 | ) |
| Taiwan Semiconductor Manufacturing Co. Ltd. | Deutsche Bank AG | 1,097,000 | 10/18/17 | USD | 218.09 | USD | 238,257 | (64,778 | ) |
| Unilever PLC | Goldman Sachs International | 139,300 | 10/18/17 | GBP | 45.19 | GBP | 6,016 | (16,743 | ) |
| Unilever PLC | Goldman Sachs International | 15,000 | 10/18/17 | GBP | 45.52 | GBP | 648 | (1,196 | ) |
| bpost SA | Goldman Sachs International | 20,800 | 10/18/17 | EUR | 23.75 | EUR | 523 | (36,009 | ) |
| AT&T | UBS AG | 109,300 | 10/19/17 | CAD | 45.38 | CAD | 4,905 | (21,118 | ) |
| GlaxoSmithKline PLC | Goldman Sachs International | 383,800 | 10/19/17 | GBP | 15.15 | GBP | 5,726 | (56,512 | ) |
| Heico Corp. | Goldman Sachs International | 20,670 | 10/19/17 | EUR | 84.71 | EUR | 1,730 | (14,016 | ) |
| KONE Oyj | Goldman Sachs International | 40,000 | 10/19/17 | EUR | 47.03 | EUR | 1,794 | (3,895 | ) |
| Llyods Banking Group PLC | Goldman Sachs International | 1,925,000 | 10/19/17 | GBP | 0.66 | GBP | 1,309 | (48,322 | ) |
| AstraZeneca PLC | Goldman Sachs International | 120,000 | 10/24/17 | GBP | 48.56 | GBP | 5,956 | (264,355 | ) |
| Banco Santander SA | Goldman Sachs International | 36,800 | 10/25/17 | EUR | 84.33 | EUR | 3,100 | (51,679 | ) |
| Far Eastone Telecommunications Co. Ltd. | Goldman Sachs International | 330,000 | 10/25/17 | USD | 74.32 | USD | 23,810 | (2,808 | ) |
| Imperial Brands PLC | Goldman Sachs International | 101,300 | 10/25/17 | GBP | 33.37 | GBP | 3,226 | (40,593 | ) |
| Rogers Corp. | Goldman Sachs International | 10,800 | 10/25/17 | CHF | 244.03 | CHF | 2,673 | (66,119 | ) |
| Novo Nordisk A/S | Goldman Sachs International | 50,500 | 10/26/17 | DKK | 306.12 | DKK | 15,287 | (33,137 | ) |
| Rogers Communication, Inc. | Deutsche Bank AG | 57,800 | 10/30/17 | CAD | 65.34 | CAD | 3,719 | (34,424 | ) |
| Banco Santander SA | Goldman Sachs International | 53,000 | 10/31/17 | EUR | 82.77 | EUR | 4,464 | (143,478 | ) |
| Imperial Brands PLC | Credit Suisse International | 129,300 | 10/31/17 | GBP | 33.53 | GBP | 4,118 | (56,459 | ) |
| Japan Tobacco, Inc. | Morgan Stanley & Co. International PLC | 130,000 | 10/31/17 | JPY | 3,767.35 | JPY | 479,382 | (39,377 | ) |
| KONE Oyj | Morgan Stanley & Co. International PLC | 35,500 | 10/31/17 | EUR | 48.53 | EUR | 1,592 | (1,660 | ) |
| SGS SA, Registered Shares | Morgan Stanley & Co. International PLC | 1,200 | 10/31/17 | CHF | 2,305.20 | CHF | 2,790 | (67,359 | ) |
| bpost SA | Morgan Stanley & Co. International PLC | 20,800 | 10/31/17 | EUR | 24.67 | EUR | 523 | (16,437 | ) |
| Digital Power Corp. | Goldman Sachs International | 115,300 | 11/01/17 | EUR | 37.04 | EUR | 4,348 | (156,409 | ) |
| Citizens Financial Group, Inc. | Barclays Bank PLC | 71,300 | 11/02/17 | USD | 33.89 | USD | 2,700 | (288,327 | ) |
| Digital Power Corp. | Goldman Sachs International | 147,200 | 11/02/17 | EUR | 36.81 | EUR | 5,551 | (237,688 | ) |
| bpost SA | Goldman Sachs International | 16,000 | 11/07/17 | EUR | 24.78 | EUR | 403 | (12,149 | ) |
| AT&T | Citibank N.A. | 81,300 | 11/08/17 | CAD | 45.26 | CAD | 3,649 | (32,330 | ) |
| Givaudan SA | Credit Suisse International | 1,700 | 11/08/17 | CHF | 2,046.25 | CHF | 3,584 | (140,997 | ) |
| Imperial Brands PLC | Bank of America N.A. | 129,300 | 11/08/17 | GBP | 33.01 | GBP | 4,118 | (88,214 | ) |
| Nestle SA | Goldman Sachs International | 60,000 | 11/08/17 | CHF | 81.93 | CHF | 4,877 | (70,509 | ) |
| Sonic Healthcare Ltd. | UBS AG | 71,200 | 11/08/17 | AUD | 22.10 | AUD | 1,492 | (6,615 | ) |
| AMC Entertainment Holdings, Inc. | Deutsche Bank AG | 240,000 | 11/09/17 | AUD | 15.52 | AUD | 3,660 | (51,233 | ) |
| ANTA Sports Products Ltd. | Morgan Stanley & Co. International PLC | 482,000 | 11/09/17 | HKD | 34.55 | HKD | 15,834 | (65,106 | ) |
BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017 5
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
| OTC Options Written (continued) — Description | Counterparty | Number of Contracts | Expiration Date | Exercise Price | Notional Amount (000) | Value | |||
|---|---|---|---|---|---|---|---|---|---|
| Call | |||||||||
| British American Tobacco PLC | UBS AG | 135,800 | 11/09/17 | GBP | 47.74 | GBP | 6,345 | $ (139,074 | ) |
| Diageo PLC | Goldman Sachs International | 103,600 | 11/09/17 | GBP | 26.19 | GBP | 2,542 | (10,285 | ) |
| Givaudan SA | Goldman Sachs International | 1,500 | 11/09/17 | CHF | 2,071.31 | CHF | 3,162 | (95,557 | ) |
| KONE Oyj | UBS AG | 40,000 | 11/09/17 | EUR | 46.78 | EUR | 1,794 | (24,657 | ) |
| SGS SA, Registered Shares | Goldman Sachs International | 1,000 | 11/09/17 | CHF | 2,273.31 | CHF | 2,325 | (78,921 | ) |
| Svenska Handelsbanken AB, Class A | Goldman Sachs International | 187,000 | 11/09/17 | SEK | 117.50 | SEK | 23,012 | (144,570 | ) |
| bpost SA | Goldman Sachs International | 16,000 | 11/09/17 | EUR | 24.78 | EUR | 403 | (12,339 | ) |
| Anheuser-Busch InBev SA | Credit Suisse International | 33,300 | 11/10/17 | EUR | 99.92 | EUR | 3,368 | (136,913 | ) |
| Citizens Financial Group, Inc. | Barclays Bank PLC | 59,500 | 11/10/17 | USD | 38.05 | USD | 2,253 | (60,284 | ) |
| AstraZeneca PLC | Goldman Sachs International | 90,100 | 11/15/17 | GBP | 49.78 | GBP | 4,472 | (171,669 | ) |
| British American Tobacco PLC | UBS AG | 135,800 | 11/15/17 | GBP | 47.74 | GBP | 6,345 | (149,334 | ) |
| Diageo PLC | Morgan Stanley & Co. International PLC | 99,300 | 11/15/17 | GBP | 24.51 | GBP | 2,437 | (81,047 | ) |
| bpost SA | HSBC Bank PLC | 26,000 | 11/15/17 | EUR | 25.65 | EUR | 654 | (7,728 | ) |
| Ansell Ltd. | Deutsche Bank AG | 62,500 | 11/16/17 | AUD | 22.66 | AUD | 1,396 | (30,685 | ) |
| Banco Santander SA | Goldman Sachs International | 52,800 | 11/16/17 | EUR | 84.86 | EUR | 4,447 | (93,656 | ) |
| Far Eastone Telecommunications Co. Ltd. | JPMorgan Chase Bank N.A. | 374,000 | 11/16/17 | USD | 73.18 | USD | 26,984 | (9,859 | ) |
| Japan Tobacco, Inc. | Morgan Stanley & Co. International PLC | 100,900 | 11/16/17 | JPY | 3,773.54 | JPY | 372,074 | (41,350 | ) |
| Japan Tobacco, Inc. | UBS AG | 11,300 | 11/16/17 | JPY | 3,729.45 | JPY | 41,669 | (6,208 | ) |
| Rogers Corp. | Morgan Stanley & Co. International PLC | 20,000 | 11/16/17 | CHF | 251.74 | CHF | 4,951 | (67,521 | ) |
| Sands China Ltd. | JPMorgan Chase Bank N.A. | 456,400 | 11/16/17 | HKD | 40.21 | HKD | 18,649 | (111,485 | ) |
| Sonic Healthcare Ltd. | Deutsche Bank AG | 137,600 | 11/16/17 | AUD | 21.85 | AUD | 2,883 | (22,622 | ) |
| Rogers Communication, Inc. | Morgan Stanley & Co. International PLC | 80,000 | 11/20/17 | CAD | 64.86 | CAD | 5,147 | (79,739 | ) |
| Ansell Ltd. | Deutsche Bank AG | 62,500 | 11/30/17 | AUD | 22.96 | AUD | 1,396 | (26,773 | ) |
| Anheuser-Busch InBev SA | Goldman Sachs International | 7,900 | 12/01/17 | EUR | 104.22 | EUR | 799 | (14,939 | ) |
| Total | $ (5,475,235 | ) |
6 BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:
Level 1 Unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access
Level 2 Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other marketcorroborated inputs)
Level 3 Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trusts own assumptions used in determining the fair value of investments and derivative financial instruments)
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the Global Valuation Committee) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.
Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trusts policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trusts policy regarding valuation of investments and derivative financial instruments, refer to the Trusts most recent financial statements as contained in its semi-annual report.
The following tables summarize the Trusts investments and derivative financial instruments categorized in the disclosure hierarchy:
| Level 1 | Total | ||||||
|---|---|---|---|---|---|---|---|
| Assets: | |||||||
| Investments: | |||||||
| Common Stocks: | |||||||
| Australia | | $ | 29,196,129 | | $ 29,196,129 | ||
| Belgium | | 22,178,648 | | 22,178,648 | |||
| Canada | $ 55,551,863 | | | 55,551,863 | |||
| China | 10,113,709 | | | 10,113,709 | |||
| Denmark | | 12,232,863 | | 12,232,863 | |||
| Finland | | 19,980,419 | | 19,980,419 | |||
| France | | 32,259,678 | | 32,259,678 | |||
| Germany | | 26,593,819 | | 26,593,819 | |||
| Hong Kong | | 11,935,087 | | 11,935,087 | |||
| Japan | | 23,375,512 | | 23,375,512 | |||
| Netherlands | | 11,876,474 | | 11,876,474 | |||
| Sweden | | 14,157,006 | | 14,157,006 | |||
| Switzerland | | 102,162,012 | | 102,162,012 | |||
| Taiwan | | 25,716,746 | | 25,716,746 | |||
| United Kingdom | | 161,500,669 | | 161,500,669 | |||
| United States | 414,915,701 | | $ | 3,955,884 | 418,871,585 | ||
| Preferred Stocks | | | 16,178,156 | 16,178,156 | |||
| Short-Term Securities | 6,787,805 | | | 6,787,805 | |||
| Total | $ 487,369,078 | $ | 493,165,062 | $ | 20,134,040 | $ 1,000,668,180 | |
| Derivative Financial Instruments 1 | |||||||
| Liabilities: | |||||||
| Equity contracts | (3,661,355 | ) | (6,232,253 | ) | | (9,893,608 | ) |
| 1 Derivative | |||||||
| financial instruments are options written, which are shown at value. |
BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017 7
Schedule of Investments (continued) BlackRock Enhanced Global Dividend Trust (BOE)
Transfers between Level 1 and Level 2 were as follow:
| Transfers out of Level 1 1 | Transfers into Level 2 1 | ||||
|---|---|---|---|---|---|
| Assets: | |||||
| Long-Term Investments: | |||||
| Common Stocks | | $ (16,689,746 | ) | $ 16,689,746 | |
| 1 External pricing | |||||
| service used to reflect any significant market movements between the time the Trust valued such foreign securities and the earlier closing of foreign markets. |
A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:
| Common Stocks | Preferred Stocks | Total | ||||
|---|---|---|---|---|---|---|
| Assets: | ||||||
| Opening Balance, as of December 31, 2016 | $ 4,421,995 | $ 24,994,450 | $ 29,416,445 | |||
| Transfers into Level 3 | | | | |||
| Transfers out of Level 3 | | | | |||
| Accrued discounts/premiums | | | | |||
| Net realized gain (loss) | | | | |||
| Net change in unrealized appreciation | ||||||
| (depreciation) 1 | (466,111 | ) | (8,816,294 | ) | (9,282,405 | ) |
| Purchases | | | | |||
| Sales | | | | |||
| Closing Balance, as of September 30, 2017 | $ 3,955,884 | $ 16,178,156 | $ 20,134,040 | |||
| Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2017 1 | $ (466,111 | ) | $ (8,816,294 | ) | $ (9,282,405 | ) |
| 1 Any difference | ||||||
| between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on derivative financial instruments still held at September 30, 2017 is generally due to derivative financial instruments no | ||||||
| longer held or categorized as Level 3 at period end. |
8 BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017
Schedule of Investments (concluded) BlackRock Enhanced Global Dividend Trust (BOE)
The following table summarizes the valuation approaches used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the Global Valuation Committee) to determine the value of certain of the Trusts Level 3 investments as of period end.
| Value | Valuation Approaches | Unobservable Inputs | Range of unobservable Inputs Utilized | Weighted Average of Unobservable Inputs | |
|---|---|---|---|---|---|
| Assets: | |||||
| Common Stocks | $ 3,955,884 | Market | Tangible Book Value Multiple 1 | 1.75x | |
| Preferred Stocks | 16,178,156 | Market | Revenue Multiple 1 | 11.50x 12.25x | 12.10x |
| Revenue Growth Rate 1 | 39% | | |||
| Time to Exit 2 | 1 year | | |||
| Volatility 1 | 30% | | |||
| Total | $ 20,134,040 | ||||
| 1 Increase in | |||||
| unobservable input may result in a significant increase to value, while a decrease in the unobservable input may result in a significant decrease to value. | |||||
| 2 Decrease in | |||||
| unobservable input may result in a significant increase to value, while an increase in the unobservable input may result in a significant decrease to value. |
BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST SEPTEMBER 30, 2017 9
| Item 2 Controls and Procedures | |
|---|---|
| 2(a) | The registrants principal executive and principal financial officers, or persons performing similar functions, |
| have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) are effective as of a | |
| date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended. | |
| 2(b) | There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrants internal control over |
| financial reporting. | |
| Item 3 Exhibits | |
| Certifications Attached hereto |
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.
BlackRock Enhanced Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust)
| By: |
|---|
| John M. Perlowski |
| Chief Executive Officer (principal executive officer) of |
| BlackRock Enhanced Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust) |
| Date: November 20, 2017 |
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/ John M. Perlowski |
|---|---|
| John M. Perlowski | |
| Chief Executive Officer (principal executive officer) of | |
| BlackRock Enhanced Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust) | |
| Date: November 20, 2017 | |
| By: | /s/ Neal J. Andrews |
| Neal J. Andrews | |
| Chief Financial Officer (principal financial officer) of | |
| BlackRock Enhanced Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust) | |
| Date: November 20, 2017 |
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