Regulatory Filings • Nov 24, 2015
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Download Source FileN-Q 1 d80843dnq.htm BLACKROCK ENHANCED CAPITAL & INCOME FUND, INC. BLACKROCK ENHANCED CAPITAL & INCOME FUND, INC.
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: 811-21506
Name of Fund: BlackRock Enhanced Capital and Income Fund, Inc. (CII)
Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809
Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Enhanced Capital and Income Fund, Inc., 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: 12/31/2015
Date of reporting period: 09/30/2015
Item 1 Schedule of Investments
| Schedule of Investments September 30, 2015 (Unaudited) |
|---|
| (Percentages shown are based on Net Assets) |
| Common Stocks | Value | |
|---|---|---|
| Aerospace & Defense 1.1% | ||
| Raytheon Co. (a) | 66,761 | $ 7,294,307 |
| Air Freight & Logistics 1.2% | ||
| FedEx Corp. (a) | 55,251 | 7,955,039 |
| Airlines 2.2% | ||
| Southwest Airlines Co. (a) | 268,545 | 10,215,452 |
| United Continental Holdings, Inc. (a)(b) | 72,635 | 3,853,287 |
| 14,068,739 | ||
| Auto Components 2.0% | ||
| Goodyear Tire & Rubber Co. (a) | 99,400 | 2,915,402 |
| Lear Corp. (a) | 89,000 | 9,681,420 |
| 12,596,822 | ||
| Banks 11.7% | ||
| Bank of America Corp. (a) | 914,788 | 14,252,397 |
| Citigroup, Inc. (a) | 313,187 | 15,537,207 |
| JPMorgan Chase & Co. (a) | 340,165 | 20,739,860 |
| SunTrust Banks, Inc. (a) | 225,820 | 8,635,357 |
| U.S. Bancorp. (a) | 383,915 | 15,744,354 |
| 74,909,175 | ||
| Beverages 2.1% | ||
| Dr. Pepper Snapple Group, Inc. (a) | 101,200 | 7,999,860 |
| Molson Coors Brewing Co., Class B (a) | 62,570 | 5,194,561 |
| 13,194,421 | ||
| Biotechnology 2.3% | ||
| Amgen, Inc. (a) | 78,610 | 10,873,335 |
| Gilead Sciences, Inc. (a) | 40,900 | 4,015,971 |
| 14,889,306 | ||
| Building Products 0.5% | ||
| Owens Corning (a) | 76,400 | 3,201,924 |
| Capital Markets 1.7% | ||
| Goldman Sachs Group, Inc. (a) | 64,223 | 11,159,389 |
| Chemicals 0.7% | ||
| Dow Chemical Co. (a) | 110,102 | 4,668,325 |
| Communications Equipment 2.9% | ||
| Brocade Communications Systems, Inc. (a) | 489,101 | 5,076,868 |
| Cisco Systems, Inc. (a) | 519,422 | 13,634,828 |
| 18,711,696 | ||
| Construction & Engineering 1.0% | ||
| AECOM (a)(b) | 230,700 | 6,346,557 |
| Consumer Finance 0.9% | ||
| Discover Financial Services (a) | 25,523 | 1,326,941 |
| SLM Corp. (b) | 619,946 | 4,587,600 |
| 5,914,541 | ||
| Containers & Packaging 0.5% | ||
| Packaging Corp. of America (a) | 54,243 | 3,263,259 |
| Electronic Equipment, Instruments & Components 0.4% | ||
| CDW Corp. (a) | 39,000 | 1,593,540 |
| Common Stocks | Value | |
|---|---|---|
| Electronic Equipment, Instruments & Components (continued) | ||
| Zebra Technologies Corp., Class A (a)(b) | 15,221 | $ 1,165,168 |
| 2,758,708 | ||
| Energy Equipment & Services 2.3% | ||
| Atwood Oceanics, Inc. (a) | 168,235 | 2,491,560 |
| Schlumberger Ltd. (a) | 158,799 | 10,952,367 |
| Weatherford International PLC (a)(b) | 175,445 | 1,487,774 |
| 14,931,701 | ||
| Food & Staples Retailing 3.2% | ||
| CVS Health Corp. (a) | 208,487 | 20,114,826 |
| Kroger Co. (a) | 20,288 | 731,788 |
| 20,846,614 | ||
| Food Products 0.7% | ||
| Pilgrims Pride Corp. (a) | 55,078 | 1,144,521 |
| Tyson Foods, Inc., Class A (a) | 77,426 | 3,337,061 |
| 4,481,582 | ||
| Health Care Equipment & Supplies 0.1% | ||
| Medtronic PLC (a) | 9,440 | 631,914 |
| Health Care Providers & Services 12.5% | ||
| Aetna, Inc. (a) | 141,108 | 15,438,626 |
| Centene Corp. (a)(b) | 110,000 | 5,965,300 |
| Cigna Corp. (a) | 103,000 | 13,907,060 |
| Express Scripts Holding Co. (a)(b) | 24,200 | 1,959,232 |
| Humana, Inc. (a) | 37,018 | 6,626,222 |
| Laboratory Corp. of America Holdings (a)(b) | 66,089 | 7,168,674 |
| McKesson Corp. (a) | 36,011 | 6,663,115 |
| UnitedHealth Group, Inc. (a) | 117,120 | 13,587,091 |
| Universal Health Services, Inc., Class B (a) | 73,090 | 9,122,363 |
| 80,437,683 | ||
| Hotels, Restaurants & Leisure 2.4% | ||
| Carnival Corp. (a) | 270,868 | 13,462,140 |
| Las Vegas Sands Corp. (a) | 48,560 | 1,843,823 |
| 15,305,963 | ||
| Household Durables 1.1% | ||
| DR Horton, Inc. (a) | 73,298 | 2,152,029 |
| Lennar Corp., Class A (a) | 46,720 | 2,248,634 |
| NVR, Inc. (b) | 890 | 1,357,446 |
| Toll Brothers, Inc. (a)(b) | 38,777 | 1,327,724 |
| 7,085,833 | ||
| Industrial Conglomerates 0.6% | ||
| 3M Co. (a) | 25,149 | 3,565,374 |
| Insurance 3.6% | ||
| American International Group, Inc. (a) | 289,695 | 16,460,470 |
| Travelers Cos., Inc. (a) | 67,248 | 6,693,193 |
| 23,153,663 | ||
| Internet & Catalog Retail 1.0% | ||
| Priceline Group, Inc. (a)(b) | 5,344 | 6,609,780 |
| Portfolio Abbreviations — ADR | American Depositary Receipt | SPDR | Standard & Poors Depositary Receipt | USD | U.S. Dollar |
|---|---|---|---|---|---|
SEPTEMBER 30, 2015 1
Schedule of Investments (continued) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
| Common Stocks | Value | |
|---|---|---|
| Internet Software & Services 4.4% | ||
| Facebook, Inc., Class A (a)(b) | 94,311 | $ 8,478,559 |
| Google, Inc., Class A (a)(b) | 15,622 | 9,972,616 |
| Google, Inc., Class C (a)(b) | 15,656 | 9,525,424 |
| 27,976,599 | ||
| IT Services 4.4% | ||
| Amdocs Ltd. (a) | 100,591 | 5,721,616 |
| Cognizant Technology Solutions Corp., Class A (a)(b) | 173,734 | 10,877,486 |
| DST Systems, Inc. (a) | 33,036 | 3,473,405 |
| MasterCard, Inc., Class A (a) | 40,453 | 3,645,624 |
| Total System Services, Inc. | 103,151 | 4,686,150 |
| 28,404,281 | ||
| Media 3.7% | ||
| Comcast Corp., Class A (a) | 312,005 | 17,746,844 |
| Omnicom Group, Inc. (a) | 38,563 | 2,541,302 |
| Viacom, Inc., Class B (a) | 80,600 | 3,477,890 |
| 23,766,036 | ||
| Multi-Utilities 0.7% | ||
| Public Service Enterprise Group, Inc. (a) | 103,211 | 4,351,376 |
| Oil, Gas & Consumable Fuels 3.2% | ||
| BP PLC ADR (a) | 200,430 | 6,125,141 |
| Exxon Mobil Corp. (a)(c) | 26,826 | 1,994,513 |
| Hess Corp. (a) | 19,409 | 971,615 |
| PBF Energy, Inc., Class A | 52,486 | 1,481,680 |
| Suncor Energy, Inc. (a) | 247,445 | 6,611,730 |
| Tesoro Corp. (a) | 21,244 | 2,065,767 |
| Valero Energy Corp. (a) | 22,400 | 1,346,240 |
| 20,596,686 | ||
| Paper & Forest Products 0.6% | ||
| Domtar Corp. | 98,685 | 3,527,989 |
| Pharmaceuticals 2.6% | ||
| AstraZeneca PLC ADR (a) | 82,236 | 2,616,750 |
| Johnson & Johnson (a) | 23,783 | 2,220,143 |
| Merck & Co., Inc. (a) | 4,075 | 201,264 |
| Pfizer, Inc. (a) | 21,481 | 674,718 |
| Teva Pharmaceutical Industries Ltd. ADR (a) | 199,510 | 11,264,335 |
| 16,977,210 | ||
| Semiconductors & Semiconductor Equipment 2.1% | ||
| Intel Corp. (a) | 124,655 | 3,757,102 |
| Micron Technology, Inc. (a)(b) | 355,100 | 5,319,398 |
| NVIDIA Corp. (a) | 171,400 | 4,225,010 |
| 13,301,510 | ||
| Software 3.0% | ||
| Activision Blizzard, Inc. (a) | 196,100 | 6,057,529 |
| Microsoft Corp. (a)(c) | 191,005 | 8,453,881 |
| Common Stocks | Value | ||
|---|---|---|---|
| Software (continued) | |||
| Oracle Corp. (a) | 138,025 | $ 4,985,463 | |
| 19,496,873 | |||
| Specialty Retail 5.5% | |||
| Home Depot, Inc. (a) | 114,649 | 13,240,813 | |
| Lowes Cos., Inc. (a) | 248,449 | 17,123,105 | |
| Ross Stores, Inc. (a) | 109,090 | 5,287,592 | |
| 35,651,510 | |||
| Technology Hardware, Storage & Peripherals 4.5% | |||
| Apple, Inc. (a) | 158,627 | 17,496,554 | |
| EMC Corp. | 94,672 | 2,287,276 | |
| Western Digital Corp. (a) | 117,110 | 9,303,218 | |
| 29,087,048 | |||
| Textiles, Apparel & Luxury Goods 0.3% | |||
| Fossil Group, Inc. (a)(b) | 31,095 | 1,737,589 | |
| Tobacco 2.0% | |||
| Altria Group, Inc. (a) | 230,285 | 12,527,504 | |
| Total Common Stocks 95.7% | 615,384,526 | ||
| Investment Companies | |||
| Investment Companies 0.4% | |||
| Utilities Select Sector SPDR Fund | 56,000 | 2,424,240 | |
| Total Long-Term | |||
| Investments (Cost $649,518,102) 96.1% | 617,808,766 | ||
| Short-Term Securities | |||
| BlackRock Liquidity Funds, TempFund, Institutional Class, 0.10% (d)(e) | 28,229,516 | 28,229,516 | |
| Total Short-Term Securities (Cost $28,229,516) 4.4% | 28,229,516 | ||
| Total Investments Before Options | |||
| Written (Cost $677,747,618*) 100.5% | 646,038,282 | ||
| Options Written | |||
| (Premiums Received $6,787,790) (0.6)% | (3,527,255 | ) | |
| Total Investments Net of Options Written 99.9% | 642,511,027 | ||
| Other Assets Less Liabilities 0.1% | 444,143 | ||
| Net Assets 100.0% | $ 642,955,170 |
| Notes to Schedule of Investments | ||
|---|---|---|
| * As of period end, gross unrealized appreciation and depreciation based on cost for federal income tax | ||
| purposes were as follows: | ||
| Tax cost | $ 699,493,502 | |
| Gross unrealized appreciation | $ 20,666,242 | |
| Gross unrealized depreciation | (74,121,462 | ) |
| Net unrealized depreciation | $ (53,455,220 | ) |
(a) All or a portion of security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.
(b) Non-income producing security.
(c) All or a portion of security has been pledged as collateral in connection with outstanding OTC derivatives.
(d) Represents the current yield as of report date.
2 SEPTEMBER 30, 2015
Schedule of Investments (continued) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
(e) During the period ended September 30, 2015, 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 Liquidity Funds, TempFund, Institutional Class | 1,879,452 | Net Activity — 26,350,064 | 28,229,516 | Income — $ 19,133 | ||
|---|---|---|---|---|---|---|
| BlackRock Liquidity Series, LLC Money Market Series | $673,750 | $ (673,750 | ) | | $ 9,555 | 1 |
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.
For Trust compliance purposes, the Trusts industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by the investment advisor. These definitions may not apply for purposes of this report, which may combine industry sub-classifications for reporting ease.
Derivative Financial Instruments Outstanding as of Period End
| Exchange-Traded Options Written — Description | Put/ Call | Expiration Date | Strike Price | Contracts | Value | ||
|---|---|---|---|---|---|---|---|
| Aetna, Inc. | Call | 10/02/15 | USD | 119.00 | 150 | $ (525 | ) |
| Aetna, Inc. | Call | 10/02/15 | USD | 120.00 | 146 | (365 | ) |
| Aetna, Inc. | Call | 10/02/15 | USD | 121.00 | 120 | (1,560 | ) |
| American International Group, Inc. | Call | 10/02/15 | USD | 62.00 | 650 | (7,150 | ) |
| Amgen, Inc. | Call | 10/02/15 | USD | 162.50 | 61 | (305 | ) |
| Apple, Inc. | Call | 10/02/15 | USD | 117.00 | 60 | (90 | ) |
| Apple, Inc. | Call | 10/02/15 | USD | 118.00 | 60 | (90 | ) |
| Apple, Inc. | Call | 10/02/15 | USD | 120.00 | 32 | (32 | ) |
| Bank of America Corp. | Call | 10/02/15 | USD | 17.50 | 1,383 | (1,383 | ) |
| Cisco Systems, Inc. | Call | 10/02/15 | USD | 27.00 | 287 | (287 | ) |
| Citigroup, Inc. | Call | 10/02/15 | USD | 57.50 | 190 | (1,330 | ) |
| Cognizant Technology Solutions Corp., Class A | Call | 10/02/15 | USD | 67.50 | 524 | (13,100 | ) |
| CVS Health Corp. | Call | 10/02/15 | USD | 106.00 | 550 | (13,750 | ) |
| Discover Financial Services | Call | 10/02/15 | USD | 53.00 | 128 | (1,280 | ) |
| Dow Chemical Co. | Call | 10/02/15 | USD | 46.00 | 245 | (735 | ) |
| DR Horton, Inc. | Call | 10/02/15 | USD | 31.50 | 92 | (736 | ) |
| Exxon Mobil Corp. | Call | 10/02/15 | USD | 75.50 | 34 | (476 | ) |
| Facebook, Inc., Class A | Call | 10/02/15 | USD | 94.50 | 40 | (80 | ) |
| Gilead Sciences, Inc. | Call | 10/02/15 | USD | 112.00 | 60 | (390 | ) |
| Goldman Sachs Group, Inc. | Call | 10/02/15 | USD | 205.00 | 237 | (11,850 | ) |
| Goodyear Tire & Rubber Co. | Call | 10/02/15 | USD | 31.50 | 100 | (500 | ) |
| Google, Inc., Class C | Call | 10/02/15 | USD | 665.00 | 20 | (300 | ) |
| Home Depot, Inc. | Call | 10/02/15 | USD | 119.00 | 50 | (150 | ) |
| JPMorgan Chase & Co. | Call | 10/02/15 | USD | 69.50 | 452 | (904 | ) |
| Las Vegas Sands Corp. | Call | 10/02/15 | USD | 55.00 | 67 | (670 | ) |
| MasterCard, Inc., Class A | Call | 10/02/15 | USD | 95.00 | 152 | (2,280 | ) |
| Medtronic PLC | Call | 10/02/15 | USD | 77.50 | 2 | (8 | ) |
| Microsoft Corp. | Call | 10/02/15 | USD | 45.00 | 9 | (58 | ) |
| Microsoft Corp. | Call | 10/02/15 | USD | 47.50 | 187 | (187 | ) |
| NVIDIA Corp. | Call | 10/02/15 | USD | 23.50 | 75 | (8,700 | ) |
| Oracle Corp. | Call | 10/02/15 | USD | 38.50 | 344 | (344 | ) |
| Oracle Corp. | Call | 10/02/15 | USD | 40.50 | 249 | (2,739 | ) |
| Southwest Airlines Co. | Call | 10/02/15 | USD | 39.00 | 100 | (750 | ) |
| Southwest Airlines Co. | Call | 10/02/15 | USD | 40.00 | 100 | (500 | ) |
| Suncor Energy, Inc. | Call | 10/02/15 | USD | 28.00 | 275 | (825 | ) |
| Teva Pharmaceutical Industries Ltd. ADR | Call | 10/02/15 | USD | 70.00 | 164 | (492 | ) |
| Toll Brothers, Inc. | Call | 10/02/15 | USD | 38.50 | 105 | (1,050 | ) |
| United Continental Holdings, Inc. | Call | 10/02/15 | USD | 60.00 | 117 | (1,170 | ) |
| UnitedHealth Group, Inc. | Call | 10/02/15 | USD | 119.00 | 110 | (3,575 | ) |
| Western Digital Corp. | Call | 10/02/15 | USD | 84.00 | 65 | (1,040 | ) |
| Western Digital Corp. | Call | 10/02/15 | USD | 85.00 | 65 | (520 | ) |
| SunTrust Banks, Inc. | Call | 10/05/15 | USD | 42.40 | 941 | (36 | ) |
SEPTEMBER 30, 2015 3
Schedule of Investments (continued) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
| Description — Raytheon Co. | Put/ Call — Call | Expiration Date — 10/06/15 | USD | 107.01 | 82 | Value — $ (18,671 | ) |
|---|---|---|---|---|---|---|---|
| Aetna, Inc. | Call | 10/09/15 | USD | 123.00 | 120 | (2,700 | ) |
| Altria Group, Inc. | Call | 10/09/15 | USD | 55.50 | 250 | (8,000 | ) |
| American International Group, Inc. | Call | 10/09/15 | USD | 60.50 | 150 | (1,275 | ) |
| Amgen, Inc. | Call | 10/09/15 | USD | 157.50 | 97 | (1,358 | ) |
| Apple, Inc. | Call | 10/09/15 | USD | 117.00 | 194 | (2,619 | ) |
| Bank of America Corp. | Call | 10/09/15 | USD | 17.00 | 925 | (1,388 | ) |
| Cisco Systems, Inc. | Call | 10/09/15 | USD | 26.50 | 745 | (15,272 | ) |
| Citigroup, Inc. | Call | 10/09/15 | USD | 55.00 | 151 | (604 | ) |
| Cognizant Technology Solutions Corp., Class A | Call | 10/09/15 | USD | 64.00 | 126 | (6,615 | ) |
| Comcast Corp., Class A | Call | 10/09/15 | USD | 58.50 | 842 | (23,576 | ) |
| Dow Chemical Co. | Call | 10/09/15 | USD | 47.50 | 74 | (444 | ) |
| Facebook, Inc., Class A | Call | 10/09/15 | USD | 92.00 | 210 | (20,370 | ) |
| Goldman Sachs Group, Inc. | Call | 10/09/15 | USD | 185.00 | 84 | (2,016 | ) |
| Goodyear Tire & Rubber Co. | Call | 10/09/15 | USD | 30.50 | 230 | (4,600 | ) |
| Google, Inc., Class A | Call | 10/09/15 | USD | 665.00 | 19 | (3,088 | ) |
| Google, Inc., Class A | Call | 10/09/15 | USD | 675.00 | 25 | (1,562 | ) |
| Google, Inc., Class C | Call | 10/09/15 | USD | 622.50 | 20 | (7,800 | ) |
| Google, Inc., Class C | Call | 10/09/15 | USD | 645.00 | 15 | (788 | ) |
| Hess Corp. | Call | 10/09/15 | USD | 60.00 | 170 | (2,210 | ) |
| Home Depot, Inc. | Call | 10/09/15 | USD | 118.00 | 136 | (8,092 | ) |
| Intel Corp. | Call | 10/09/15 | USD | 30.00 | 86 | (5,461 | ) |
| Las Vegas Sands Corp. | Call | 10/09/15 | USD | 47.50 | 140 | (700 | ) |
| Medtronic PLC | Call | 10/09/15 | USD | 72.00 | 21 | (284 | ) |
| Merck & Co., Inc. | Call | 10/09/15 | USD | 57.00 | 10 | (50 | ) |
| Microsoft Corp. | Call | 10/09/15 | USD | 44.00 | 180 | (14,760 | ) |
| Microsoft Corp. | Call | 10/09/15 | USD | 45.50 | 100 | (1,750 | ) |
| Pfizer, Inc. | Call | 10/09/15 | USD | 34.00 | 29 | (174 | ) |
| Schlumberger Ltd. | Call | 10/09/15 | USD | 77.50 | 247 | (4,940 | ) |
| Schlumberger Ltd. | Call | 10/09/15 | USD | 80.00 | 90 | (720 | ) |
| Southwest Airlines Co. | Call | 10/09/15 | USD | 39.00 | 190 | (6,650 | ) |
| Tesoro Corp. | Call | 10/09/15 | USD | 98.00 | 52 | (22,360 | ) |
| Teva Pharmaceutical Industries Ltd. ADR | Call | 10/09/15 | USD | 64.50 | 272 | (3,808 | ) |
| U.S. Bancorp. | Call | 10/09/15 | USD | 42.50 | 243 | (2,794 | ) |
| UnitedHealth Group, Inc. | Call | 10/09/15 | USD | 116.00 | 83 | (21,206 | ) |
| Valero Energy Corp. | Call | 10/09/15 | USD | 62.00 | 110 | (10,450 | ) |
| Weatherford International PLC | Call | 10/09/15 | USD | 11.00 | 292 | (2,044 | ) |
| Dr. Pepper Snapple Group, Inc. | Call | 10/15/15 | USD | 78.51 | 267 | (43,649 | ) |
| AECOM | Call | 10/16/15 | USD | 27.50 | 523 | (39,225 | ) |
| AECOM | Call | 10/16/15 | USD | 30.00 | 130 | (1,950 | ) |
| Altria Group, Inc. | Call | 10/16/15 | USD | 55.00 | 316 | (23,700 | ) |
| Amdocs Ltd. | Call | 10/16/15 | USD | 60.00 | 50 | (2,500 | ) |
| Amgen, Inc. | Call | 10/16/15 | USD | 160.00 | 97 | (388 | ) |
| Apple, Inc. | Call | 10/16/15 | USD | 120.00 | 178 | (2,492 | ) |
| Atwood Oceanics, Inc. | Call | 10/16/15 | USD | 20.00 | 210 | (3,150 | ) |
| Bank of America Corp. | Call | 10/16/15 | USD | 17.00 | 446 | (1,561 | ) |
| Brocade Communications Systems, Inc. | Call | 10/16/15 | USD | 11.00 | 1,150 | (10,350 | ) |
| Centene Corp. | Call | 10/16/15 | USD | 65.00 | 325 | (9,750 | ) |
| Cigna Corp. | Call | 10/16/15 | USD | 145.00 | 275 | (5,500 | ) |
| Cisco Systems, Inc. | Call | 10/16/15 | USD | 27.00 | 620 | (9,610 | ) |
| Citigroup, Inc. | Call | 10/16/15 | USD | 55.00 | 245 | (2,695 | ) |
| Cognizant Technology Solutions Corp., Class A | Call | 10/16/15 | USD | 65.00 | 102 | (5,100 | ) |
| Dr. Pepper Snapple Group, Inc. | Call | 10/16/15 | USD | 80.00 | 93 | (9,068 | ) |
| DST Systems, Inc. | Call | 10/16/15 | USD | 110.00 | 110 | (15,675 | ) |
| Express Scripts Holding Co. | Call | 10/16/15 | USD | 87.50 | 61 | (1,068 | ) |
| Facebook, Inc., Class A | Call | 10/16/15 | USD | 94.50 | 135 | (10,665 | ) |
| Facebook, Inc., Class A | Call | 10/16/15 | USD | 95.00 | 31 | (2,046 | ) |
| FedEx Corp. | Call | 10/16/15 | USD | 165.00 | 134 | (737 | ) |
| Goodyear Tire & Rubber Co. | Call | 10/16/15 | USD | 32.00 | 150 | (1,500 | ) |
| Google, Inc., Class A | Call | 10/16/15 | USD | 675.00 | 20 | (12,900 | ) |
| Google, Inc., Class C | Call | 10/16/15 | USD | 635.00 | 9 | (7,335 | ) |
| Home Depot, Inc. | Call | 10/16/15 | USD | 115.00 | 56 | (14,000 | ) |
4 SEPTEMBER 30, 2015
Schedule of Investments (continued) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
| Description — Kroger Co. | Put/ Call — Call | Expiration Date — 10/16/15 | USD | 36.25 | 26 | Value — $ (1,885 | ) |
|---|---|---|---|---|---|---|---|
| Laboratory Corp. of America Holdings | Call | 10/16/15 | USD | 125.00 | 165 | (8,250 | ) |
| Las Vegas Sands Corp. | Call | 10/16/15 | USD | 50.00 | 73 | (110 | ) |
| Lear Corp. | Call | 10/16/15 | USD | 110.00 | 124 | (28,520 | ) |
| Lear Corp. | Call | 10/16/15 | USD | 115.00 | 124 | (7,440 | ) |
| Lennar Corp., Class A | Call | 10/16/15 | USD | 52.50 | 27 | (405 | ) |
| Lennar Corp., Class A | Call | 10/16/15 | USD | 55.00 | 137 | (411 | ) |
| Lowes Cos., Inc. | Call | 10/16/15 | USD | 70.00 | 500 | (41,750 | ) |
| Lowes Cos., Inc. | Call | 10/16/15 | USD | 72.50 | 162 | (3,078 | ) |
| McKesson Corp. | Call | 10/16/15 | USD | 210.00 | 115 | (2,875 | ) |
| Micron Technology, Inc. | Call | 10/16/15 | USD | 18.00 | 900 | (13,950 | ) |
| Microsoft Corp. | Call | 10/16/15 | USD | 45.00 | 54 | (2,808 | ) |
| Microsoft Corp. | Call | 10/16/15 | USD | 46.00 | 188 | (3,760 | ) |
| Molson Coors Brewing Co., Class B | Call | 10/16/15 | USD | 77.50 | 200 | (138,000 | ) |
| NVIDIA Corp. | Call | 10/16/15 | USD | 22.00 | 200 | (55,400 | ) |
| Omnicom Group, Inc. | Call | 10/16/15 | USD | 70.00 | 96 | (3,360 | ) |
| Oracle Corp. | Call | 10/16/15 | USD | 40.00 | 249 | (249 | ) |
| Owens Corning | Call | 10/16/15 | USD | 46.00 | 75 | (938 | ) |
| Owens Corning | Call | 10/16/15 | USD | 47.00 | 116 | (1,450 | ) |
| Packaging Corp. of America | Call | 10/16/15 | USD | 70.00 | 170 | (3,825 | ) |
| Pilgrims Pride Corp. | Call | 10/16/15 | USD | 22.00 | 140 | (2,800 | ) |
| Priceline Group, Inc. | Call | 10/16/15 | USD | 1,240.00 | 7 | (20,580 | ) |
| Raytheon Co. | Call | 10/16/15 | USD | 110.00 | 40 | (5,320 | ) |
| Ross Stores, Inc. | Call | 10/16/15 | USD | 50.00 | 100 | (5,000 | ) |
| Ross Stores, Inc. | Call | 10/16/15 | USD | 52.50 | 380 | (3,800 | ) |
| Southwest Airlines Co. | Call | 10/16/15 | USD | 40.00 | 665 | (16,625 | ) |
| Tesoro Corp. | Call | 10/16/15 | USD | 100.00 | 30 | (11,400 | ) |
| Tesoro Corp. | Call | 10/16/15 | USD | 105.00 | 25 | (5,538 | ) |
| Toll Brothers, Inc. | Call | 10/16/15 | USD | 37.00 | 88 | (1,760 | ) |
| Tyson Foods, Inc., Class A | Call | 10/16/15 | USD | 43.00 | 100 | (10,250 | ) |
| Tyson Foods, Inc., Class A | Call | 10/16/15 | USD | 44.00 | 95 | (5,462 | ) |
| U.S. Bancorp. | Call | 10/16/15 | USD | 43.00 | 176 | (2,552 | ) |
| U.S. Bancorp. | Call | 10/16/15 | USD | 45.00 | 310 | (310 | ) |
| Universal Health Services, Inc., Class B | Call | 10/16/15 | USD | 140.00 | 166 | (7,470 | ) |
| Universal Health Services, Inc., Class B | Call | 10/16/15 | USD | 145.00 | 200 | (10,000 | ) |
| Viacom, Inc., Class B | Call | 10/16/15 | USD | 45.00 | 56 | (5,040 | ) |
| Western Digital Corp. | Call | 10/16/15 | USD | 87.50 | 207 | (9,418 | ) |
| Zebra Technologies Corp., Class A | Call | 10/16/15 | USD | 90.00 | 152 | (7,600 | ) |
| 3M Co. | Call | 10/23/15 | USD | 143.00 | 126 | (35,595 | ) |
| Activision Blizzard, Inc. | Call | 10/23/15 | USD | 31.50 | 229 | (16,488 | ) |
| Altria Group, Inc. | Call | 10/23/15 | USD | 56.00 | 250 | (13,875 | ) |
| Amgen, Inc. | Call | 10/23/15 | USD | 155.00 | 69 | (2,794 | ) |
| Apple, Inc. | Call | 10/23/15 | USD | 115.00 | 120 | (15,420 | ) |
| Bank of America Corp. | Call | 10/23/15 | USD | 16.50 | 440 | (5,940 | ) |
| BP PLC ADR | Call | 10/23/15 | USD | 31.00 | 250 | (18,625 | ) |
| Cisco Systems, Inc. | Call | 10/23/15 | USD | 26.50 | 125 | (5,250 | ) |
| Citigroup, Inc. | Call | 10/23/15 | USD | 52.50 | 187 | (9,911 | ) |
| Comcast Corp., Class A | Call | 10/23/15 | USD | 58.50 | 360 | (24,480 | ) |
| Dow Chemical Co. | Call | 10/23/15 | USD | 46.50 | 72 | (1,944 | ) |
| DR Horton, Inc. | Call | 10/23/15 | USD | 32.50 | 210 | (3,150 | ) |
| Express Scripts Holding Co. | Call | 10/23/15 | USD | 85.50 | 66 | (3,960 | ) |
| Exxon Mobil Corp. | Call | 10/23/15 | USD | 74.00 | 33 | (6,386 | ) |
| Exxon Mobil Corp. | Call | 10/23/15 | USD | 76.00 | 33 | (3,102 | ) |
| Facebook, Inc., Class A | Call | 10/23/15 | USD | 95.00 | 37 | (4,625 | ) |
| FedEx Corp. | Call | 10/23/15 | USD | 155.00 | 143 | (8,080 | ) |
| Gilead Sciences, Inc. | Call | 10/23/15 | USD | 110.00 | 160 | (5,040 | ) |
| Goodyear Tire & Rubber Co. | Call | 10/23/15 | USD | 31.00 | 100 | (3,500 | ) |
| Google, Inc., Class C | Call | 10/23/15 | USD | 642.50 | 15 | (14,550 | ) |
| Home Depot, Inc. | Call | 10/23/15 | USD | 118.00 | 136 | (19,448 | ) |
| Home Depot, Inc. | Call | 10/23/15 | USD | 119.00 | 106 | (11,342 | ) |
| Humana, Inc. | Call | 10/23/15 | USD | 190.00 | 93 | (18,368 | ) |
| Intel Corp. | Call | 10/23/15 | USD | 31.50 | 135 | (5,670 | ) |
| JPMorgan Chase & Co. | Call | 10/23/15 | USD | 64.00 | 400 | (17,400 | ) |
| MasterCard, Inc., Class A | Call | 10/23/15 | USD | 91.50 | 25 | (3,900 | ) |
| Merck & Co., Inc. | Call | 10/23/15 | USD | 54.50 | 10 | (105 | ) |
SEPTEMBER 30, 2015 5
Schedule of Investments (continued) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
| Description — Microsoft Corp. | Put/ Call — Call | Expiration Date — 10/23/15 | USD | 45.50 | 92 | Value — $ (7,084 | ) |
|---|---|---|---|---|---|---|---|
| NVIDIA Corp. | Call | 10/23/15 | USD | 24.00 | 285 | (37,050 | ) |
| Pfizer, Inc. | Call | 10/23/15 | USD | 33.50 | 40 | (760 | ) |
| Schlumberger Ltd. | Call | 10/23/15 | USD | 76.50 | 303 | (8,787 | ) |
| Teva Pharmaceutical Industries Ltd. ADR | Call | 10/23/15 | USD | 63.00 | 246 | (5,535 | ) |
| Teva Pharmaceutical Industries Ltd. ADR | Call | 10/23/15 | USD | 66.00 | 169 | (1,098 | ) |
| United Continental Holdings, Inc. | Call | 10/23/15 | USD | 63.50 | 124 | (1,488 | ) |
| Western Digital Corp. | Call | 10/23/15 | USD | 85.50 | 248 | (27,404 | ) |
| Exxon Mobil Corp. | Call | 10/28/15 | USD | 74.00 | 34 | (6,969 | ) |
| Activision Blizzard, Inc. | Call | 10/30/15 | USD | 31.00 | 320 | (35,200 | ) |
| American International Group, Inc. | Call | 10/30/15 | USD | 61.50 | 500 | (11,000 | ) |
| Amgen, Inc. | Call | 10/30/15 | USD | 150.00 | 71 | (11,254 | ) |
| Apple, Inc. | Call | 10/30/15 | USD | 121.00 | 149 | (15,124 | ) |
| AstraZeneca PLC ADR | Call | 10/30/15 | USD | 35.00 | 205 | (3,075 | ) |
| Cisco Systems, Inc. | Call | 10/30/15 | USD | 26.50 | 695 | (34,402 | ) |
| Citigroup, Inc. | Call | 10/30/15 | USD | 52.00 | 501 | (40,330 | ) |
| Cognizant Technology Solutions Corp., Class A | Call | 10/30/15 | USD | 64.50 | 100 | (11,250 | ) |
| CVS Health Corp. | Call | 10/30/15 | USD | 102.00 | 489 | (36,186 | ) |
| Facebook, Inc., Class A | Call | 10/30/15 | USD | 97.50 | 64 | (9,280 | ) |
| Google, Inc., Class A | Call | 10/30/15 | USD | 670.00 | 20 | (25,700 | ) |
| Humana, Inc. | Call | 10/30/15 | USD | 187.50 | 92 | (25,760 | ) |
| Intel Corp. | Call | 10/30/15 | USD | 30.00 | 67 | (7,973 | ) |
| Johnson & Johnson | Call | 10/30/15 | USD | 98.00 | 59 | (3,894 | ) |
| JPMorgan Chase & Co. | Call | 10/30/15 | USD | 62.50 | 96 | (10,368 | ) |
| JPMorgan Chase & Co. | Call | 10/30/15 | USD | 64.50 | 466 | (22,601 | ) |
| Microsoft Corp. | Call | 10/30/15 | USD | 45.50 | 92 | (7,912 | ) |
| Microsoft Corp. | Call | 10/30/15 | USD | 46.00 | 54 | (3,672 | ) |
| Pfizer, Inc. | Call | 10/30/15 | USD | 33.50 | 19 | (560 | ) |
| Priceline Group, Inc. | Call | 10/30/15 | USD | 1,350.00 | 12 | (8,280 | ) |
| Southwest Airlines Co. | Call | 10/30/15 | USD | 40.00 | 200 | (13,000 | ) |
| UnitedHealth Group, Inc. | Call | 10/30/15 | USD | 124.00 | 391 | (54,345 | ) |
| Utilities Select Sector SPDR Fund | Call | 10/30/15 | USD | 43.50 | 280 | (20,440 | ) |
| Public Service Enterprise Group, Inc. | Call | 11/03/15 | USD | 40.65 | 50 | (10,357 | ) |
| CDW Corp. | Call | 11/05/15 | USD | 41.01 | 195 | (27,171 | ) |
| Aetna, Inc. | Call | 11/06/15 | USD | 119.00 | 170 | (31,450 | ) |
| Altria Group, Inc. | Call | 11/06/15 | USD | 56.50 | 455 | (32,760 | ) |
| American International Group, Inc. | Call | 11/06/15 | USD | 58.00 | 148 | (20,276 | ) |
| Bank of America Corp. | Call | 11/06/15 | USD | 16.50 | 1,379 | (32,406 | ) |
| Cisco Systems, Inc. | Call | 11/06/15 | USD | 27.00 | 125 | (4,625 | ) |
| Citigroup, Inc. | Call | 11/06/15 | USD | 52.00 | 291 | (26,772 | ) |
| Comcast Corp., Class A | Call | 11/06/15 | USD | 58.00 | 360 | (52,380 | ) |
| Dow Chemical Co. | Call | 11/06/15 | USD | 43.50 | 160 | (24,000 | ) |
| DR Horton, Inc. | Call | 11/06/15 | USD | 32.00 | 65 | (2,178 | ) |
| Fossil Group, Inc. | Call | 11/06/15 | USD | 61.50 | 155 | (6,588 | ) |
| Home Depot, Inc. | Call | 11/06/15 | USD | 120.00 | 90 | (12,150 | ) |
| Intel Corp. | Call | 11/06/15 | USD | 30.00 | 167 | (20,458 | ) |
| JPMorgan Chase & Co. | Call | 11/06/15 | USD | 63.00 | 143 | (15,158 | ) |
| MasterCard, Inc., Class A | Call | 11/06/15 | USD | 92.00 | 25 | (5,600 | ) |
| Medtronic PLC | Call | 11/06/15 | USD | 70.50 | 12 | (966 | ) |
| NVIDIA Corp. | Call | 11/06/15 | USD | 24.00 | 150 | (23,400 | ) |
| Schlumberger Ltd. | Call | 11/06/15 | USD | 76.50 | 154 | (6,622 | ) |
| Southwest Airlines Co. | Call | 11/06/15 | USD | 39.50 | 200 | (19,500 | ) |
| Teva Pharmaceutical Industries Ltd. ADR | Call | 11/06/15 | USD | 62.00 | 146 | (8,979 | ) |
| U.S. Bancorp. | Call | 11/06/15 | USD | 43.00 | 420 | (18,690 | ) |
| United Continental Holdings, Inc. | Call | 11/06/15 | USD | 57.50 | 121 | (12,221 | ) |
| Viacom, Inc., Class B | Call | 11/10/15 | USD | 45.75 | 347 | (50,267 | ) |
| Travelers Cos., Inc. | Call | 11/17/15 | USD | 101.75 | 84 | (17,280 | ) |
| Activision Blizzard, Inc. | Call | 11/20/15 | USD | 31.00 | 320 | (52,000 | ) |
| Activision Blizzard, Inc. | Call | 11/20/15 | USD | 33.00 | 110 | (8,965 | ) |
| Amdocs Ltd. | Call | 11/20/15 | USD | 57.50 | 260 | (45,500 | ) |
| AstraZeneca PLC ADR | Call | 11/20/15 | USD | 35.00 | 205 | (7,175 | ) |
| Carnival Corp. | Call | 11/20/15 | USD | 50.00 | 285 | (57,712 | ) |
6 SEPTEMBER 30, 2015
Schedule of Investments (continued) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
| Description — Cognizant Technology Solutions Corp., Class A | Call | Expiration Date — 11/20/15 | USD | 65.00 | 17 | Value — $ (3,188 | ) |
|---|---|---|---|---|---|---|---|
| Intel Corp. | Call | 11/20/15 | USD | 30.00 | 167 | (22,211 | ) |
| Johnson & Johnson | Call | 11/20/15 | USD | 95.50 | 60 | (10,773 | ) |
| JPMorgan Chase & Co. | Call | 11/20/15 | USD | 65.00 | 143 | (9,581 | ) |
| Laboratory Corp. of America Holdings | Call | 11/20/15 | USD | 125.00 | 165 | (6,600 | ) |
| Lennar Corp., Class A | Call | 11/20/15 | USD | 50.00 | 70 | (11,375 | ) |
| Lowes Cos., Inc. | Call | 11/20/15 | USD | 70.00 | 545 | (109,000 | ) |
| McKesson Corp. | Call | 11/20/15 | USD | 220.00 | 115 | (3,162 | ) |
| NVIDIA Corp. | Call | 11/20/15 | USD | 25.00 | 150 | (19,500 | ) |
| Owens Corning | Call | 11/20/15 | USD | 47.00 | 191 | (11,460 | ) |
| Pfizer, Inc. | Call | 11/20/15 | USD | 34.00 | 20 | (630 | ) |
| Pilgrims Pride Corp. | Call | 11/20/15 | USD | 22.00 | 135 | (10,125 | ) |
| Priceline Group, Inc. | Call | 11/20/15 | USD | 1,285.00 | 7 | (30,275 | ) |
| Raytheon Co. | Call | 11/20/15 | USD | 110.00 | 170 | (51,850 | ) |
| SunTrust Banks, Inc. | Call | 11/20/15 | USD | 40.00 | 188 | (15,134 | ) |
| Tyson Foods, Inc., Class A | Call | 11/20/15 | USD | 44.00 | 219 | (29,565 | ) |
| Total | $ (2,784,278 | ) |
OTC Options Written
| Description — Domtar Corp. | Put/ Call — Call | Counterparty — Citibank N.A. | Expiration Date — 10/02/15 | USD | 41.96 | 25,000 | Value — $ | |
|---|---|---|---|---|---|---|---|---|
| U.S. Bancorp. | Call | Morgan Stanley & Co. International PLC | 10/05/15 | USD | 42.60 | 38,500 | (2,084 | ) |
| Public Service Enterprise Group, Inc. | Call | Goldman Sachs International | 10/06/15 | USD | 41.49 | 7,400 | (7,003 | ) |
| Centene Corp. | Call | Citibank N.A. | 10/12/15 | USD | 65.01 | 27,500 | (591 | ) |
| Packaging Corp. of America | Call | Deutsche Bank AG | 10/12/15 | USD | 72.00 | 16,000 | (16 | ) |
| SLM Corp. | Call | Morgan Stanley & Co. International PLC | 10/12/15 | USD | 8.30 | 77,500 | (1,207 | ) |
| Amdocs Ltd. | Call | Deutsche Bank AG | 10/15/15 | USD | 58.89 | 25,000 | (8,361 | ) |
| Carnival Corp. | Call | Morgan Stanley & Co. International PLC | 10/15/15 | USD | 49.49 | 47,000 | (63,824 | ) |
| Domtar Corp. | Call | Citibank N.A. | 10/15/15 | USD | 38.78 | 24,400 | (4,567 | ) |
| Total System Services, Inc. | Call | Citibank N.A. | 10/15/15 | USD | 48.00 | 30,000 | (7,683 | ) |
| Travelers Cos., Inc. | Call | Morgan Stanley & Co. International PLC | 10/15/15 | USD | 106.95 | 25,300 | (805 | ) |
| PBF Energy, Inc., Class A | Call | Citibank N.A. | 10/19/15 | USD | 30.12 | 26,000 | (17,241 | ) |
| Public Service Enterprise Group, Inc. | Call | Morgan Stanley & Co. International PLC | 10/21/15 | USD | 40.13 | 30,200 | (70,342 | ) |
| Total System Services, Inc. | Call | Morgan Stanley & Co. International PLC | 10/22/15 | USD | 47.07 | 26,000 | (14,231 | ) |
| Carnival Corp. | Call | Morgan Stanley & Co. International PLC | 10/29/15 | USD | 49.49 | 47,000 | (86,629 | ) |
| U.S. Bancorp. | Call | Morgan Stanley & Co. International PLC | 10/29/15 | USD | 42.60 | 38,500 | (20,983 | ) |
| Carnival Corp. | Call | Credit Suisse International | 10/30/15 | USD | 52.30 | 13,000 | (10,102 | ) |
| Cigna Corp. | Call | Citibank N.A. | 10/30/15 | USD | 146.78 | 27,500 | (12,938 | ) |
| Dr. Pepper Snapple Group, Inc. | Call | Credit Suisse International | 10/30/15 | USD | 79.91 | 19,000 | (28,976 | ) |
| DST Systems, Inc. | Call | Citibank N.A. | 10/30/15 | USD | 107.12 | 6,500 | (23,075 | ) |
| Lear Corp. | Call | Morgan Stanley & Co. International PLC | 10/30/15 | USD | 101.75 | 19,700 | (187,117 | ) |
| Lowes Cos., Inc. | Call | Citibank N.A. | 10/30/15 | USD | 71.13 | 16,200 | (13,561 | ) |
| Raytheon Co. | Call | Credit Suisse International | 10/30/15 | USD | 106.21 | 4,200 | (15,005 | ) |
| Ross Stores, Inc. | Call | Morgan Stanley & Co. International PLC | 10/30/15 | USD | 50.82 | 13,000 | (8,069 | ) |
| Brocade Communications Systems, Inc. | Call | Morgan Stanley & Co. International PLC | 11/02/15 | USD | 10.49 | 89,000 | (34,964 | ) |
| Kroger Co. | Call | Morgan Stanley & Co. International PLC | 11/02/15 | USD | 38.42 | 2,500 | (916 | ) |
| Molson Coors Brewing Co., Class B | Call | Morgan Stanley & Co. International PLC | 11/02/15 | USD | 82.60 | 20,000 | (84,488 | ) |
| Brocade Communications Systems, Inc. | Call | Citibank N.A. | 11/12/15 | USD | 10.72 | 40,000 | (14,562 | ) |
| Kroger Co. | Call | Morgan Stanley & Co. International PLC | 11/13/15 | USD | 37.09 | 5,000 | (3,637 | ) |
| Total | $ (742,977 | ) |
SEPTEMBER 30, 2015 7
Schedule of Investments (concluded) BlackRock Enhanced Capital and Income Fund, Inc. (CII)
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 market-corroborated 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.
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:
| Assets: | |||||||
| Investments: | |||||||
| Long-Term Investments: | |||||||
| Common Stocks 1 | $ 615,384,526 | | | $ 615,384,526 | |||
| Investment Companies | 2,424,240 | | | 2,424,240 | |||
| Short-Term Securities | 28,229,516 | | | 28,229,516 | |||
| Total | $ 646,038,282 | | | $ 646,038,282 | |||
| 1 See above Schedule of Investments for values in each industry. | |||||||
| Level 1 | Level 2 | Level 3 | Total | ||||
| Derivative Financial Instruments 2 | |||||||
| Liabilities: | |||||||
| Equity contracts | $ (2,599,108 | ) | $ (928,147 | ) | | $ (3,527,255 | ) |
| 2 Derivative financial instruments are options written, which are shown at value. | |||||||
| The Trust may hold assets in which the fair value approximates the carrying amount for financial reporting purposes. As of period end, such assets are categorized | |||||||
| within the disclosure hierarchy as follows: | |||||||
| Level 1 | Level 2 | Level 3 | Total | ||||
| Assets: | |||||||
| Cash | $ 620,557 | | | $ 620,557 | |||
| Foreign currency at value | 3,004 | | | 3,004 | |||
| Cash pledged as collateral for OTC derivatives | 420,000 | | | 420,000 | |||
| Total | $ 1,043,561 | | | $ 1,043,561 | |||
| During the | |||||||
| period ended September 30, 2015, there were no transfers between levels. |
8 SEPTEMBER 30, 2015
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 Capital and Income Fund, Inc.
| By: |
|---|
| John M. Perlowski |
| Chief Executive Officer (principal executive officer) of BlackRock Enhanced Capital and Income Fund, Inc. |
| Date: November 23, 2015 |
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 Capital and Income Fund, Inc. | |
| Date: November 23, 2015 | |
| By: | /s/ Neal J. Andrews |
| Neal J. Andrews | |
| Chief Financial Officer (principal financial officer) of BlackRock Enhanced Capital and Income Fund, Inc. | |
| Date: November 23, 2015 |
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