Eaton Vance TA Global Dividend Opportunities Fund
Table of Contents

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-21519
Investment Company Act File Number
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number, Including Area Code)
October 31
Date of Fiscal Year End
January 31, 2009
Date of Reporting Period
 
 

 

TABLE OF CONTENTS

Item 1. Schedule of Investments
Item 2. Controls and Procedures
Signatures
EX-99.CERT Section 302 Certifications

Table of Contents

Item 1. Schedule of Investments

 

Table of Contents

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund   as of January 31, 2009
PORTFOLIO OF INVESTMENTS (Unaudited)
Common Stocks — 122.2%(1)
                 
Security   Shares     Value  
 
Aerospace & Defense — 4.9%
                
Lockheed Martin Corp.
     79,000     $ 6,481,160  
Raytheon Co.
     85,000       4,302,700  
 
              
 
           $ 10,783,860  
 
              
Auto Components — 1.2%
                
Johnson Controls, Inc.
     205,000     $ 2,564,550  
 
              
 
           $ 2,564,550  
 
              
Chemicals — 2.7%
                
Potash Corp. of Saskatchewan, Inc.
     80,000     $ 5,988,800  
 
              
 
           $ 5,988,800  
 
              
Commercial Banks — 0.9%
                
Wells Fargo & Co.
     107,000     $ 2,022,300  
 
              
 
           $ 2,022,300  
 
              
Commercial Services & Supplies — 2.0%
                
Waste Management, Inc.
     138,000     $ 4,304,220  
 
              
 
           $ 4,304,220  
 
              
Computers & Peripherals — 4.2%
                
International Business Machines Corp.
     100,000     $ 9,165,000  
 
              
 
           $ 9,165,000  
 
              
Diversified Telecommunication Services — 8.4%
                
AT&T, Inc.
     350,000     $ 8,617,000  
Koninklijke (Royal) KPN NV
     470,726       6,265,618  
Telefonos de Mexico SA de CV ADR
     200,000       3,542,000  
 
              
 
           $ 18,424,618  
 
              
Electric Utilities — 8.3%
                
Endesa SA
     90,502     $ 2,787,371  
Entergy Corp.
     75,000       5,727,000  
Exelon Corp.
     130,000       7,048,600  
Iberdrola SA
     350,000       2,724,691  
 
              
 
           $ 18,287,662  
 
              
Energy Equipment & Services — 2.3%
                
Halliburton Co.
     300,000     $ 5,175,000  
 
              
 
           $ 5,175,000  
 
              
Food & Staples Retailing — 1.9%
                
Tesco PLC
     800,000     $ 4,134,454  
 
              
 
           $ 4,134,454  
 
              
Food Products — 3.9%
                
Nestle SA ADR
     250,000     $ 8,612,500  
 
              
 
           $ 8,612,500  
 
              

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Table of Contents

                 
Security   Shares     Value  
 
Gas Utilities — 1.3%
                
GDF Suez
     75,000     $ 2,869,444  
 
              
 
           $ 2,869,444  
 
              
Health Care Equipment & Supplies — 1.2%
                
Covidien, Ltd.
     70,000     $ 2,683,800  
 
              
 
           $ 2,683,800  
 
              
Household Products — 2.0%
                
Kimberly-Clark de Mexico SA de CV
     1,375,000     $ 4,488,491  
 
              
 
           $ 4,488,491  
 
              
Industrial Conglomerates — 2.4%
                
Siemens AG
     95,000     $ 5,349,639  
 
              
 
           $ 5,349,639  
 
              
Insurance — 5.1%
                
ACE, Ltd.
     100,000     $ 4,366,000  
Allianz SE ADR
     385,000       3,207,050  
Travelers Companies Inc. (The)
     92,000       3,554,880  
 
              
 
           $ 11,127,930  
 
              
Machinery — 2.7%
                
Caterpillar, Inc.
     100,000     $ 3,085,000  
Deere & Co.
     75,000       2,605,500  
Kubota Corp.
     43,000       233,871  
 
              
 
           $ 5,924,371  
 
              
Media — 6.1%
                
Comcast Corp., Class A
     431,747     $ 6,325,094  
Vivendi
     275,000       7,084,180  
 
              
 
           $ 13,409,274  
 
              
Metals & Mining — 8.5%
                
Anglo American PLC ADR
     227,500     $ 2,054,325  
BHP Billiton, Ltd. ADR
     130,000       4,880,200  
Companhia Vale do Rio Doce ADR
     470,000       6,631,700  
ThyssenKrupp AG
     249,421       5,061,690  
 
              
 
           $ 18,627,915  
 
              
Oil, Gas & Consumable Fuels — 22.4%
                
Chevron Corp.
     140,000     $ 9,872,800  
Enbridge, Inc.
     300,000       9,840,000  
Exxon Mobil Corp.
     112,000       8,565,760  
Occidental Petroleum Corp.
     105,000       5,727,750  
StatoilHydro ASA
     425,000       7,322,550  
Total SA ADR
     160,000       7,964,800  
 
              
 
           $ 49,293,660  
 
              
Pharmaceuticals — 12.5%
                
AstraZeneca PLC ADR
     140,000     $ 5,394,200  
Bristol-Myers Squibb Co.
     450,000       9,634,500  
Novartis AG ADR
     82,538       3,405,518  
Pfizer, Inc.
     340,000       4,957,200  
Roche Holding AG
     30,000       4,211,541  
 
              
 
           $ 27,602,959  
 
              
Real Estate Investment Trusts (REITs) — 6.9%
                
AvalonBay Communities, Inc.
     41,264     $ 2,137,911  
Boston Properties, Inc.
     40,000       1,732,000  
Federal Realty Investment Trust
     50,000       2,531,500  
Plum Creek Timber Co., Inc.
     175,000       5,384,750  
Rayonier, Inc.
     112,500       3,312,000  
 
              
 
           $ 15,098,161  
 
              

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Table of Contents

                 
Security   Shares     Value  
 
Textiles, Apparel & Luxury Goods — 2.5%
                
VF Corp.
     100,000     $ 5,602,000  
 
              
 
           $ 5,602,000  
 
              
Tobacco — 5.7%
                
Imperial Tobacco Group PLC
     120,000     $ 3,281,343  
Philip Morris International, Inc.
     250,000       9,287,500  
 
              
 
           $ 12,568,843  
 
              
Wireless Telecommunication Services — 2.2%
                
Rogers Communications, Inc., Class B
     171,326     $ 4,831,358  
 
              
 
           $ 4,831,358  
 
              
Total Common Stocks
(identified cost $263,229,259)
           $ 268,940,809  
 
              
Preferred Stocks — 19.8%
                 
Security   Shares     Value  
 
Commercial Banks — 10.1%
                
Abbey National Capital Trust I, 8.963%(2)
     1,500     $ 987,397  
ABN AMRO North America Capital Funding Trust, 6.968%(2)(3)
     950       411,766  
Barclays Bank PLC, 8.55%(2)(3)
     3,500       1,614,410  
BBVA International Preferred SA Unipersonal, 5.919%(1)(2)
     1,000       339,842  
BNP Paribas, 7.195%(2)(3)
     25       1,394,285  
BNP Paribas Capital Trust, 9.003%(2)(3)
     4,000       2,273,352  
Citigroup Inc., Series AA, 8.125%(1)
     66,000       613,800  
Credit Agricole SA/London, 6.637%(2)(3)
     1,100       556,128  
DB Contingent Capital Trust II, 6.55%(1)
     25,000       335,250  
Den Norske Bank, 7.729%(2)(3)
     3,600       2,325,280  
HSBC Capital Funding LP, 9.547%(2)(3)
     7,000       5,447,673  
JPMorgan Chase & Co., 7.90%(2)
     2,500       1,955,170  
Landsbanki Islands HF, 7.431%(2)(3)(4)
     2,150       1,290  
Lloyds Banking Group PLC, 6.657%(2)(3)
     1,900       383,988  
PNC Financial Services Group, Inc., 9.875%(2)
     90,000       1,885,50  
Royal Bank of Scotland Group PLC, 7.25%(1)
     26,852       153,056  
Royal Bank of Scotland Group PLC, 7.64%(2)
     9       162,788  
Santander Finance Unipersonal, 6.50%(1)
     58,500       1,003,275  
Standard Chartered PLC, 6.409%(2)(3)
     11       362,730  
 
              
 
           $ 22,206,980  
 
              
Diversified Financial Services — 0.9%
                
Bank of America Corp., 6.625%
     46,000     $ 484,380  
Bank of America Corp., 6.70%
     58,000       582,900  
CoBank, 11.00%
     20,000       914,870  
 
              
 
           $ 1,982,150  
 
              
Food Products — 0.5%
                
Dairy Farmers of America, 7.875%(3)
     18,500     $ 1,023,860  
 
              
 
           $ 1,023,860  
 
              
Insurance — 5.8%
                
Aegon NV, 6.375%(1)
     95,000     $ 1,139,050  
Arch Capital Group, Ltd., Series B, 7.875%(1)
     15,000       312,450  
AXA SA, 6.379%(2)(3)
     500       220,663  
AXA SA, 6.463%(2)(3)
     4,400       1,969,062  
Endurance Specialty Holdings, Ltd., 7.75%(1)
     14,750       239,245  
ING Capital Funding Trust III, 8.439%(2)
     1,200       549,539  
ING Groep NV, 8.50%(1)
     100,000       1,475,000  
MetLife, Inc., 6.50%(1)
     100,000       1,720,000  

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Security   Shares     Value  
 
PartnerRe, Ltd., 6.50%(1)
     20,000     $ 377,600  
Prudential PLC, 6.50%
     2,600       1,268,631  
RenaissanceRe Holdings, Ltd., 6.08%(1)
     113,000       1,761,670  
Zurich Regcaps Fund Trust VI, 1.8694%(2)(3)
     2,500       1,854,688  
 
              
 
           $ 12,887,598  
 
              
Oil, Gas & Consumable Fuels — 2.5%
                
Kinder Morgan GP, Inc., 8.33%(2)(3)
     5,000     $ 5,548,750  
 
              
 
           $ 5,548,750  
 
              
Thrifts & Mortgage Finance — 0.0%
                
Indymac Bank FSB, 8.50%(3)(4)
     75,000     $ 750  
 
              
 
           $ 750  
 
              
Total Preferred Stocks
(identified cost $72,791,283)
           $ 43,650,088  
 
              
Short-Term Investments — 5.7%
                 
    Interest        
Description   (000’s omitted)     Value  
 
Cash Management Portfolio, 0.23%(5)
   $ 12,552     $ 12,552,388  
 
              
 
                
 
                
 
                
 
                
 
Total Short-Term Investments
(identified cost $12,552,388)
           $ 12,552,388  
 
              
 
                
 
                
 
                
 
                
 
Total Investments — 147.7%
(identified cost $348,572,930)
           $ 325,143,285  
 
              
 
                
 
                
 
                
 
Other Assets, Less Liabilities — (47.7)%
           $ (105,027,205 )
 
              
 
                
 
                
 
                
 
                
 
Net Assets — 100.0%
           $ 220,116,080  
 
              
     
ADR
  - American Depository Receipt  
 
 
    
(1)
  Security has been segregated as collateral with the custodian for borrowings under the Committed Facility Agreement.
 
    
(2)
  Variable rate security. The stated interest rate represents the rate in effect at January 31, 2009.
 
    
(3)
  Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At January 31, 2009, the aggregate value of the securities is $25,388,675 or 11.5% of the Fund’s net assets.
 
    
(4)
  Defaulted security.
 
    
(5)
  Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of January 31, 2009. Net income allocated from the investment in Cash Management Portfolio for the fiscal year to date ended January 31, 2009 was $18,418.

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Table of Contents

Country Concentration of Portfolio
                 
    Percentage    
Country   of Total Investments   Value
 
United States
     56.8 %   $ 184,580,315  
France
     6.8       22,058,562  
Canada
     6.3       20,660,158  
Switzerland
     6.3       20,595,559  
United Kingdom
     5.8       18,809,925  
Germany
     4.2       13,618,379  
Norway
     3.0       9,647,830  
Netherlands
     2.7       8,879,668  
Mexico
     2.5       8,030,491  
Brazil
     2.0       6,631,700  
Spain
     2.0       6,515,337  
Australia
     1.5       4,880,200  
Japan
     0.1       233,871  
Iceland
     0.0       1,290  
 
              
Total
     100.0 %   $ 325,143,285  
 
              

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Table of Contents

The Fund did not have any open financial instruments at January 31, 2009.
The cost and unrealized appreciation (depreciation) of investments of the Fund at January 31, 2009, as determined on a federal income tax basis, were as follows:
         
Aggregate cost
   $ 349,183,754  
 
      
Gross unrealized appreciation
   $ 31,207,361  
Gross unrealized depreciation
     (55,247,830 )
 
      
Net unrealized depreciation
   $ (24,040,469 )
 
      
The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157 (FAS 157), “Fair Value Measurements”, effective November 1, 2008. FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
  •   Level 1 – quoted prices in active markets for identical investments
  •   Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
  •   Level 3 – significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At January 31, 2009, the inputs used in valuing the Fund’s investments, which are carried at value, were as follows:
             
        Investments in  
    Valuation Inputs   Securities  
Level 1
   Quoted Prices   $ 260,080,285  
Level 2
   Other Significant Observable Inputs     65,063,000  
Level 3
   Significant Unobservable Inputs     —  
 
          
Total
       $ 325,143,285  
 
          
The Fund held no investments or other financial instruments at October 31, 2008 whose fair value was determined using Level 3 inputs.
For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

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Table of Contents

Item 2. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

 

Table of Contents

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.
Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund
         
 
       
By:
  /s/ Duncan W. Richardson    
 
       
 
  Duncan W. Richardson    
 
  President    
 
        
Date:
  March 25, 2009    
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
         
 
       
By:
  /s/ Duncan W. Richardson    
 
       
 
  Duncan W. Richardson    
 
  President    
 
        
Date:
  March 25, 2009    
 
        
By:
  /s/ Barbara E. Campbell    
 
       
 
  Barbara E. Campbell    
 
  Treasurer    
 
        
Date:
  March 25, 2009