Eaton Vance
Enhanced Equity Income Fund II
September 30, 2022
Portfolio of Investments (Unaudited)
Common Stocks — 99.3%(1) |
Security | Shares | Value | |
Aerospace & Defense — 1.0% | |||
Raytheon Technologies Corp. | 97,082 | $ 7,947,133 | |
$ 7,947,133 | |||
Auto Components — 0.9% | |||
Aptiv PLC(2) | 93,535 | $ 7,315,372 | |
$ 7,315,372 | |||
Automobiles — 1.3% | |||
Tesla, Inc.(2) | 39,612 | $ 10,507,083 | |
$ 10,507,083 | |||
Beverages — 2.2% | |||
Coca-Cola Co. (The) | 318,591 | $ 17,847,468 | |
$ 17,847,468 | |||
Biotechnology — 3.3% | |||
AbbVie, Inc. | 153,874 | $ 20,651,430 | |
argenx SE ADR(2) | 17,568 | 6,202,382 | |
$ 26,853,812 | |||
Building Products — 0.8% | |||
Trane Technologies PLC | 42,541 | $ 6,160,362 | |
$ 6,160,362 | |||
Capital Markets — 3.2% | |||
Charles Schwab Corp. (The) | 169,117 | $ 12,154,439 | |
Goldman Sachs Group, Inc. (The) | 26,857 | 7,870,444 | |
Intercontinental Exchange, Inc. | 58,768 | 5,309,689 | |
$ 25,334,572 | |||
Chemicals — 0.2% | |||
Ecolab, Inc. | 13,701 | $ 1,978,698 | |
$ 1,978,698 | |||
Commercial Services & Supplies — 2.4% | |||
Copart, Inc.(2) | 74,514 | $ 7,928,290 | |
Waste Connections, Inc. | 81,556 | 11,020,662 | |
$ 18,948,952 |
Security | Shares | Value | |
Electrical Equipment — 1.6% | |||
AMETEK, Inc. | 110,279 | $ 12,506,741 | |
$ 12,506,741 | |||
Electronic Equipment, Instruments & Components — 0.8% | |||
Zebra Technologies Corp., Class A(2) | 25,406 | $ 6,656,626 | |
$ 6,656,626 | |||
Entertainment — 1.7% | |||
Netflix, Inc.(2) | 30,833 | $ 7,259,322 | |
Walt Disney Co. (The)(2) | 63,847 | 6,022,687 | |
$ 13,282,009 | |||
Food & Staples Retailing — 1.3% | |||
Sysco Corp. | 150,615 | $ 10,649,987 | |
$ 10,649,987 | |||
Food Products — 1.0% | |||
Mondelez International, Inc., Class A | 153,625 | $ 8,423,259 | |
$ 8,423,259 | |||
Health Care Equipment & Supplies — 2.6% | |||
Abbott Laboratories | 102,141 | $ 9,883,163 | |
Intuitive Surgical, Inc.(2) | 58,020 | 10,875,269 | |
$ 20,758,432 | |||
Health Care Providers & Services — 2.2% | |||
UnitedHealth Group, Inc. | 35,746 | $ 18,053,160 | |
$ 18,053,160 | |||
Health Care Technology — 0.5% | |||
Veeva Systems, Inc., Class A(2) | 22,801 | $ 3,759,429 | |
$ 3,759,429 | |||
Hotels, Restaurants & Leisure — 1.4% | |||
Starbucks Corp. | 132,809 | $ 11,190,486 | |
$ 11,190,486 | |||
Interactive Media & Services — 8.1% | |||
Alphabet, Inc., Class C(2) | 643,060 | $ 61,830,219 | |
Twitter, Inc.(2) | 75,248 | 3,298,872 | |
$ 65,129,091 | |||
Internet & Direct Marketing Retail — 8.4% | |||
Amazon.com, Inc.(2) | 594,080 | $ 67,131,040 | |
$ 67,131,040 |
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Eaton Vance
Enhanced Equity Income Fund II
September 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
IT Services — 7.7% | |||
Accenture PLC, Class A | 45,451 | $ 11,694,542 | |
PayPal Holdings, Inc.(2) | 92,112 | 7,928,080 | |
Visa, Inc., Class A | 238,921 | 42,444,316 | |
$ 62,066,938 | |||
Life Sciences Tools & Services — 2.0% | |||
Danaher Corp. | 19,867 | $ 5,131,447 | |
Illumina, Inc.(2) | 16,561 | 3,159,673 | |
Thermo Fisher Scientific, Inc. | 15,588 | 7,906,078 | |
$ 16,197,198 | |||
Oil, Gas & Consumable Fuels — 1.0% | |||
EOG Resources, Inc. | 71,787 | $ 8,020,762 | |
$ 8,020,762 | |||
Pharmaceuticals — 1.7% | |||
Eli Lilly & Co. | 43,106 | $ 13,938,325 | |
$ 13,938,325 | |||
Real Estate Management & Development — 1.1% | |||
FirstService Corp. | 71,277 | $ 8,482,676 | |
$ 8,482,676 | |||
Road & Rail — 1.7% | |||
CSX Corp. | 313,764 | $ 8,358,673 | |
Uber Technologies, Inc.(2) | 208,580 | 5,527,370 | |
$ 13,886,043 | |||
Semiconductors & Semiconductor Equipment — 7.7% | |||
Lam Research Corp. | 29,821 | $ 10,914,486 | |
Micron Technology, Inc. | 236,187 | 11,832,969 | |
NVIDIA Corp. | 57,366 | 6,963,659 | |
QUALCOMM, Inc. | 129,771 | 14,661,527 | |
Texas Instruments, Inc. | 115,404 | 17,862,231 | |
$ 62,234,872 | |||
Software — 18.9% | |||
Adobe, Inc.(2) | 80,327 | $ 22,105,990 | |
Altair Engineering, Inc., Class A(2) | 80,916 | 3,578,106 | |
Intuit, Inc. | 56,776 | 21,990,480 | |
Microsoft Corp. | 280,404 | 65,306,092 | |
Nice, Ltd. ADR(2) | 32,142 | 6,050,410 | |
Paycom Software, Inc.(2) | 46,120 | 15,219,139 |
Security | Shares | Value | |
Software (continued) | |||
Salesforce, Inc.(2) | 70,758 | $ 10,177,831 | |
Zscaler, Inc.(2) | 43,331 | 7,122,316 | |
$151,550,364 | |||
Specialty Retail — 3.8% | |||
Home Depot, Inc. (The) | 32,213 | $ 8,888,855 | |
TJX Cos., Inc. (The) | 343,289 | 21,325,113 | |
$ 30,213,968 | |||
Technology Hardware, Storage & Peripherals — 7.6% | |||
Apple, Inc. | 398,426 | $ 55,062,473 | |
Logitech International S.A. | 137,579 | 6,328,634 | |
$ 61,391,107 | |||
Textiles, Apparel & Luxury Goods — 1.2% | |||
NIKE, Inc., Class B | 114,972 | $ 9,556,473 | |
$ 9,556,473 | |||
Total Common Stocks (identified cost $482,503,020) | $797,972,438 |
Short-Term Investments — 1.0% |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 2.80%(3) | 7,833,013 | $ 7,833,013 | |
Total Short-Term Investments (identified cost $7,833,013) | $ 7,833,013 | ||
Total Investments — 100.3% (identified cost $490,336,033) | $805,805,451 | ||
Total Written Covered Call Options — (0.4)% (premiums received $7,341,269) | $ (2,912,225) | ||
Other Assets, Less Liabilities — 0.1% | $ 542,593 | ||
Net Assets — 100.0% | $803,435,819 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
(1) | All or a portion of each applicable common stock for which a written call option is outstanding at September 30, 2022 has been pledged as collateral for such written option. |
(2) | Non-income producing security. |
(3) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of September 30, 2022. |
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Eaton Vance
Enhanced Equity Income Fund II
September 30, 2022
Portfolio of Investments (Unaudited) — continued
Written Covered Call Options (Exchange-Traded) — (0.4)% | |||||||
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | ||
Abbott Laboratories | 510 | $ 4,934,760 | $104 | 11/4/22 | $ (59,160) | ||
AbbVie, Inc. | 765 | 10,267,065 | 145 | 10/7/22 | (11,475) | ||
Accenture PLC, Class A | 225 | 5,789,250 | 275 | 11/4/22 | (83,250) | ||
Adobe, Inc. | 400 | 11,008,000 | 320 | 10/28/22 | (57,400) | ||
Alphabet, Inc., Class C | 3,215 | 30,912,225 | 109 | 10/21/22 | (104,487) | ||
Amazon.com, Inc. | 2,970 | 33,561,000 | 131 | 10/21/22 | (118,800) | ||
AMETEK, Inc. | 550 | 6,237,550 | 130 | 10/21/22 | (9,625) | ||
Apple, Inc. | 1,990 | 27,501,800 | 155 | 11/4/22 | (322,380) | ||
Aptiv PLC | 465 | 3,636,765 | 110 | 10/21/22 | (2,325) | ||
argenx SE ADR | 85 | 3,000,925 | 420 | 10/21/22 | (21,462) | ||
Charles Schwab Corp. (The) | 845 | 6,073,015 | 75 | 10/7/22 | (32,532) | ||
Coca-Cola Co. (The) | 1,590 | 8,907,180 | 62 | 10/21/22 | (11,130) | ||
Copart, Inc. | 370 | 3,936,800 | 120 | 10/21/22 | (11,100) | ||
CSX Corp. | 1,565 | 4,169,160 | 34 | 10/14/22 | (3,913) | ||
Danaher Corp. | 95 | 2,453,755 | 300 | 10/21/22 | (4,988) | ||
Ecolab, Inc. | 65 | 938,730 | 165 | 10/21/22 | (4,713) | ||
Eli Lilly & Co. | 215 | 6,952,025 | 340 | 10/14/22 | (53,965) | ||
EOG Resources, Inc. | 355 | 3,966,415 | 131 | 10/14/22 | (7,988) | ||
Goldman Sachs Group, Inc. (The) | 130 | 3,809,650 | 315 | 10/28/22 | (61,100) | ||
Home Depot, Inc. (The) | 160 | 4,415,040 | 295 | 10/28/22 | (55,200) | ||
Illumina, Inc. | 80 | 1,526,320 | 220 | 10/28/22 | (46,400) | ||
Intercontinental Exchange, Inc. | 290 | 2,620,150 | 105 | 10/21/22 | (3,625) | ||
Intuit, Inc. | 280 | 10,844,960 | 465 | 10/14/22 | (17,500) | ||
Intuitive Surgical, Inc. | 290 | 5,435,760 | 205 | 10/28/22 | (106,575) | ||
Lam Research Corp. | 145 | 5,307,000 | 430 | 10/28/22 | (45,095) | ||
Logitech International S.A. | 685 | 3,151,000 | 53 | 10/21/22 | (18,837) | ||
Micron Technology, Inc. | 1,180 | 5,911,800 | 60 | 10/14/22 | (8,850) | ||
Microsoft Corp. | 1,400 | 32,606,000 | 255 | 10/21/22 | (179,200) | ||
Mondelez International, Inc., Class A | 765 | 4,194,495 | 61 | 10/28/22 | (15,300) | ||
Netflix, Inc. | 150 | 3,531,600 | 275 | 11/4/22 | (119,625) | ||
Nice, Ltd. ADR | 160 | 3,011,840 | 210 | 10/21/22 | (21,600) | ||
NIKE, Inc., Class B | 570 | 4,737,840 | 92 | 11/4/22 | (64,980) | ||
NVIDIA Corp. | 285 | 3,459,615 | 140 | 10/28/22 | (54,292) | ||
Paycom Software, Inc. | 230 | 7,589,770 | 390 | 10/21/22 | (28,750) | ||
PayPal Holdings, Inc. | 460 | 3,959,220 | 98 | 11/4/22 | (97,060) | ||
QUALCOMM, Inc. | 645 | 7,287,210 | 133 | 10/28/22 | (29,347) | ||
Raytheon Technologies Corp. | 485 | 3,970,210 | 87 | 10/28/22 | (51,652) | ||
Salesforce, Inc. | 350 | 5,034,400 | 165 | 10/28/22 | (37,975) | ||
Starbucks Corp. | 660 | 5,561,160 | 97 | 10/28/22 | (14,850) | ||
Sysco Corp. | 750 | 5,303,250 | 76 | 11/4/22 | ��� (46,875) | ||
Tesla, Inc. | 195 | 5,172,375 | 310 | 10/28/22 | (106,762) | ||
Texas Instruments, Inc. | 575 | 8,899,850 | 165 | 11/4/22 | (185,437) |
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Eaton Vance
Enhanced Equity Income Fund II
September 30, 2022
Portfolio of Investments (Unaudited) — continued
Written Covered Call Options (Exchange-Traded) (continued) | |||||||
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | ||
Thermo Fisher Scientific, Inc. | 75 | $ 3,803,925 | $570 | 10/21/22 | $ (6,938) | ||
TJX Cos., Inc. (The) | 1,715 | 10,653,580 | 69 | 10/14/22 | (16,293) | ||
Trane Technologies PLC | 210 | 3,041,010 | 165 | 10/21/22 | (12,075) | ||
Uber Technologies, Inc. | 1,040 | 2,756,000 | 31 | 11/4/22 | (93,600) | ||
UnitedHealth Group, Inc. | 175 | 8,838,200 | 540 | 10/7/22 | (6,563) | ||
Veeva Systems, Inc., Class A | 110 | 1,813,680 | 185 | 10/21/22 | (9,350) | ||
Visa, Inc., Class A | 1,190 | 21,140,350 | 190 | 11/4/22 | (383,180) | ||
Walt Disney Co. (The) | 315 | 2,971,395 | 106 | 10/28/22 | (22,680) | ||
Waste Connections, Inc. | 405 | 5,472,765 | 150 | 10/21/22 | (11,138) | ||
Zebra Technologies Corp., Class A | 125 | 3,275,125 | 320 | 10/21/22 | (5,625) | ||
Zscaler, Inc. | 215 | 3,533,955 | 205 | 10/14/22 | (7,203) | ||
Total | $(2,912,225) |
Abbreviations: | |
ADR | – American Depositary Receipt |
At September 30, 2022, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
The Fund is subject to equity price risk in the normal course of pursuing its investment objectives. The Fund writes covered call options on individual stocks above the current value of the stock to generate premium income. In writing call options on individual stocks, the Fund in effect sells potential appreciation in the value of the applicable stock above the exercise price in exchange for the option premium received. The Fund retains the risk of loss, minus the premium received, should the price of the underlying stock decline.
Affiliated Investments
At September 30, 2022, the value of the Fund's investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Liquidity Fund) and Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund) was $7,833,013, which represents 1.0% of the Fund's net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended September 30, 2022 were as follows:
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Units/Shares, end of period |
Short-Term Investments | ||||||||
Cash Reserves Fund | $3,050,823 | $52,984,246 | $(56,034,663) | $(406) | $ — | $ — | $2,861 | — |
Liquidity Fund | — | 86,800,948 | (78,967,935) | — | — | 7,833,013 | 62,540 | 7,833,013 |
Total | $(406) | $ — | $7,833,013 | $65,401 |
Fair Value Measurements
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is 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) |
4
Eaton Vance
Enhanced Equity Income Fund II
September 30, 2022
Portfolio of Investments (Unaudited) — continued
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At September 30, 2022, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $797,972,438* | $ — | $ — | $797,972,438 |
Short-Term Investments | 7,833,013 | — | — | 7,833,013 |
Total Investments | $805,805,451 | $ — | $ — | $805,805,451 |
Liability Description | ||||
Written Covered Call Options | $ (2,912,225) | $ — | $ — | $ (2,912,225) |
Total | $ (2,912,225) | $ — | $ — | $ (2,912,225) |
* | The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments. |
For information on the Fund's policy regarding the 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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