Eaton Vance
Tax-Managed Buy-Write Strategy Fund
September 30, 2022
Portfolio of Investments (Unaudited)
| Common Stocks — 100.2% |
| Security | Shares | Value | |
| Aerospace & Defense — 0.6% | |||
| Boeing Co. (The)(1)(2) | 1,784 | $ 216,007 | |
| Huntington Ingalls Industries, Inc.(2) | 981 | 217,291 | |
| Textron, Inc.(2) | 1,970 | 114,772 | |
| $ 548,070 | |||
| Air Freight & Logistics — 0.3% | |||
| C.H. Robinson Worldwide, Inc.(2) | 711 | $ 68,476 | |
| United Parcel Service, Inc., Class B(2) | 1,266 | 204,510 | |
| $ 272,986 | |||
| Airlines — 0.4% | |||
| Alaska Air Group, Inc.(1)(2) | 3,244 | $ 127,003 | |
| United Airlines Holdings, Inc.(1)(2) | 5,240 | 170,457 | |
| $ 297,460 | |||
| Auto Components — 0.1% | |||
| Aptiv PLC(1)(2) | 900 | $ 70,389 | |
| $ 70,389 | |||
| Automobiles — 3.7% | |||
| General Motors Co.(2) | 10,253 | $ 329,019 | |
| Tesla, Inc.(1)(2) | 10,647 | 2,824,117 | |
| $ 3,153,136 | |||
| Banks — 1.8% | |||
| Citigroup, Inc. | 3,521 | $ 146,720 | |
| Citizens Financial Group, Inc.(2) | 3,405 | 116,996 | |
| Comerica, Inc.(2) | 1,757 | 124,923 | |
| JPMorgan Chase & Co.(2) | 3,790 | 396,055 | |
| KeyCorp(2) | 5,500 | 88,110 | |
| PNC Financial Services Group, Inc. (The) | 610 | 91,146 | |
| SVB Financial Group(1)(2) | 1,255 | 421,404 | |
| Zions Bancorp N.A.(2) | 3,012 | 153,190 | |
| $ 1,538,544 | |||
| Beverages — 2.6% | |||
| Coca-Cola Co. (The)(2) | 2,104 | $ 117,866 | |
| PepsiCo, Inc.(2) | 12,828 | 2,094,299 | |
| $ 2,212,165 | |||
| Biotechnology — 1.9% | |||
| AbbVie, Inc.(2) | 4,836 | $ 649,040 | |
| Security | Shares | Value | |
| Biotechnology (continued) | |||
| Incyte Corp.(1)(2) | 1,066 | $ 71,038 | |
| Moderna, Inc.(1)(2) | 759 | 89,752 | |
| Vertex Pharmaceuticals, Inc.(1)(2) | 2,874 | 832,138 | |
| $ 1,641,968 | |||
| Building Products — 0.4% | |||
| Fortune Brands Home & Security, Inc.(2) | 6,049 | $ 324,771 | |
| $ 324,771 | |||
| Capital Markets — 1.8% | |||
| Charles Schwab Corp. (The) | 930 | $ 66,839 | |
| Goldman Sachs Group, Inc. (The)(2) | 2,750 | 805,888 | |
| Intercontinental Exchange, Inc. | 650 | 58,728 | |
| MarketAxess Holdings, Inc. | 254 | 56,512 | |
| Moody's Corp.(2) | 745 | 181,117 | |
| S&P Global, Inc.(2) | 1,352 | 412,833 | |
| $ 1,581,917 | |||
| Chemicals — 0.9% | |||
| Ecolab, Inc.(2) | 641 | $ 92,573 | |
| Linde PLC(2) | 744 | 200,575 | |
| Sherwin-Williams Co. (The)(2) | 2,223 | 455,159 | |
| $ 748,307 | |||
| Commercial Services & Supplies — 0.7% | |||
| Waste Management, Inc.(2) | 3,962 | $ 634,752 | |
| $ 634,752 | |||
| Communications Equipment — 1.3% | |||
| Cisco Systems, Inc.(2) | 23,066 | $ 922,640 | |
| Motorola Solutions, Inc.(2) | 706 | 158,123 | |
| $ 1,080,763 | |||
| Construction Materials — 0.3% | |||
| Martin Marietta Materials, Inc.(2) | 824 | $ 265,402 | |
| $ 265,402 | |||
| Consumer Finance — 0.4% | |||
| Synchrony Financial(2) | 13,342 | $ 376,111 | |
| $ 376,111 | |||
| Containers & Packaging — 0.5% | |||
| Avery Dennison Corp.(2) | 902 | $ 146,755 | |
| Packaging Corp. of America(2) | 2,800 | 314,412 | |
| $ 461,167 | |||
1
Eaton Vance
Tax-Managed Buy-Write Strategy Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued
| Security | Shares | Value | |
| Diversified Financial Services — 0.5% | |||
| Berkshire Hathaway, Inc., Class B(1)(2) | 1,480 | $ 395,190 | |
| $ 395,190 | |||
| Electric Utilities — 1.6% | |||
| Edison International(2) | 6,720 | $ 380,218 | |
| NextEra Energy, Inc.(2) | 13,057 | 1,023,799 | |
| $ 1,404,017 | |||
| Electrical Equipment — 1.0% | |||
| Eaton Corp. PLC(2) | 6,734 | $ 898,046 | |
| $ 898,046 | |||
| Energy Equipment & Services — 0.7% | |||
| Halliburton Co.(2) | 16,953 | $ 417,383 | |
| Helmerich & Payne, Inc.(2) | 4,130 | 152,686 | |
| $ 570,069 | |||
| Entertainment — 1.4% | |||
| Live Nation Entertainment, Inc.(1) | 869 | $ 66,079 | |
| Netflix, Inc.(1)(2) | 3,160 | 743,990 | |
| Take-Two Interactive Software, Inc.(1)(2) | 946 | 103,114 | |
| Walt Disney Co. (The)(1)(2) | 2,988 | 281,858 | |
| Warner Bros. Discovery, Inc.(1) | 3,885 | 44,678 | |
| $ 1,239,719 | |||
| Equity Real Estate Investment Trusts (REITs) — 1.4% | |||
| Iron Mountain, Inc.(2) | 9,356 | $ 411,383 | |
| Mid-America Apartment Communities, Inc.(2) | 4,302 | 667,111 | |
| Public Storage(2) | 545 | 159,582 | |
| $ 1,238,076 | |||
| Food & Staples Retailing — 1.2% | |||
| Kroger Co. (The)(2) | 2,562 | $ 112,088 | |
| Sysco Corp.(2) | 1,500 | 106,065 | |
| Walmart, Inc.(2) | 6,285 | 815,164 | |
| $ 1,033,317 | |||
| Food Products — 1.6% | |||
| Campbell Soup Co.(2) | 1,585 | $ 74,685 | |
| Conagra Brands, Inc.(2) | 2,493 | 81,347 | |
| General Mills, Inc.(2) | 7,733 | 592,425 | |
| Hershey Co. (The)(2) | 863 | 190,266 | |
| JM Smucker Co. (The)(2) | 1,072 | 147,303 | |
| Kellogg Co.(2) | 1,286 | 89,583 | |
| Security | Shares | Value | |
| Food Products (continued) | |||
| McCormick & Co., Inc., Non Voting Shares(2) | 1,814 | $ 129,284 | |
| Tyson Foods, Inc., Class A(2) | 953 | 62,831 | |
| $ 1,367,724 | |||
| Health Care Equipment & Supplies — 2.1% | |||
| Abbott Laboratories(2) | 9,384 | $ 907,996 | |
| Medtronic PLC(2) | 7,622 | 615,476 | |
| ResMed, Inc.(2) | 1,173 | 256,066 | |
| $ 1,779,538 | |||
| Health Care Providers & Services — 1.7% | |||
| Centene Corp.(1)(2) | 3,582 | $ 278,715 | |
| CVS Health Corp.(2) | 906 | 86,405 | |
| Quest Diagnostics, Inc.(2) | 1,243 | 152,504 | |
| UnitedHealth Group, Inc.(2) | 1,922 | 970,687 | |
| $ 1,488,311 | |||
| Hotels, Restaurants & Leisure — 1.1% | |||
| Airbnb, Inc., Class A(1)(2) | 1,388 | $ 145,796 | |
| Expedia Group, Inc.(1)(2) | 1,447 | 135,569 | |
| McDonald's Corp.(2) | 2,925 | 674,914 | |
| $ 956,279 | |||
| Household Durables — 0.8% | |||
| D.R. Horton, Inc.(2) | 5,136 | $ 345,910 | |
| Garmin, Ltd.(2) | 1,245 | 99,986 | |
| Newell Brands, Inc.(2) | 16,334 | 226,879 | |
| $ 672,775 | |||
| Household Products — 1.2% | |||
| Procter & Gamble Co. (The)(2) | 7,894 | $ 996,617 | |
| $ 996,617 | |||
| Industrial Conglomerates — 0.1% | |||
| 3M Co. | 967 | $ 106,853 | |
| $ 106,853 | |||
| Insurance — 2.3% | |||
| American International Group, Inc.(2) | 4,746 | $ 225,340 | |
| Lincoln National Corp.(2) | 11,270 | 494,866 | |
| Marsh & McLennan Cos., Inc.(2) | 2,761 | 412,190 | |
| Travelers Cos., Inc. (The)(2) | 4,011 | 614,485 | |
| Unum Group(2) | 5,352 | 207,657 | |
| $ 1,954,538 | |||
2
Eaton Vance
Tax-Managed Buy-Write Strategy Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued
| Security | Shares | Value | |
| Interactive Media & Services — 7.5% | |||
| Alphabet, Inc., Class A(1)(2) | 25,240 | $ 2,414,206 | |
| Alphabet, Inc., Class C(1)(2) | 28,044 | 2,696,431 | |
| Meta Platforms, Inc., Class A(1)(2) | 9,432 | 1,279,734 | |
| Twitter, Inc.(1)(2) | 2,024 | 88,732 | |
| $ 6,479,103 | |||
| Internet & Direct Marketing Retail — 5.7% | |||
| Amazon.com, Inc.(1)(2) | 41,006 | $ 4,633,678 | |
| Pinduoduo, Inc. ADR(1)(2) | 4,520 | 282,862 | |
| $ 4,916,540 | |||
| IT Services — 3.5% | |||
| Accenture PLC, Class A(2) | 1,265 | $ 325,484 | |
| Broadridge Financial Solutions, Inc.(2) | 2,010 | 290,083 | |
| EPAM Systems, Inc.(1)(2) | 366 | 132,561 | |
| Global Payments, Inc.(2) | 2,615 | 282,551 | |
| International Business Machines Corp.(2) | 5,239 | 622,446 | |
| Mastercard, Inc., Class A(2) | 1,352 | 384,428 | |
| Okta, Inc.(1) | 865 | 49,193 | |
| Visa, Inc., Class A(2) | 5,223 | 927,866 | |
| $ 3,014,612 | |||
| Life Sciences Tools & Services — 2.5% | |||
| Agilent Technologies, Inc.(2) | 6,652 | $ 808,551 | |
| Danaher Corp.(2) | 4,612 | 1,191,233 | |
| Thermo Fisher Scientific, Inc. | 130 | 65,935 | |
| Waters Corp.(1) | 159 | 42,855 | |
| $ 2,108,574 | |||
| Machinery — 0.5% | |||
| Caterpillar, Inc.(2) | 772 | $ 126,670 | |
| Flowserve Corp.(2) | 4,274 | 103,858 | |
| Parker-Hannifin Corp.(2) | 680 | 164,771 | |
| $ 395,299 | |||
| Media — 0.8% | |||
| Comcast Corp., Class A(2) | 8,755 | $ 256,784 | |
| Fox Corp., Class A | 2,091 | 64,152 | |
| Interpublic Group of Cos., Inc. (The)(2) | 5,999 | 153,574 | |
| Omnicom Group, Inc. | 2,441 | 154,003 | |
| Paramount Global, Class B | 4,053 | 77,169 | |
| $ 705,682 | |||
| Security | Shares | Value | |
| Metals & Mining — 0.1% | |||
| Newmont Corp. | 1,570 | $ 65,987 | |
| $ 65,987 | |||
| Multiline Retail — 0.6% | |||
| Dollar General Corp.(2) | 823 | $ 197,405 | |
| Dollar Tree, Inc.(1)(2) | 819 | 111,466 | |
| Target Corp.(2) | 1,544 | 229,114 | |
| $ 537,985 | |||
| Multi-Utilities — 1.1% | |||
| CMS Energy Corp.(2) | 8,180 | $ 476,403 | |
| Sempra Energy(2) | 3,081 | 461,965 | |
| $ 938,368 | |||
| Oil, Gas & Consumable Fuels — 2.3% | |||
| Chevron Corp.(2) | 3,612 | $ 518,936 | |
| Exxon Mobil Corp.(2) | 2,343 | 204,567 | |
| Marathon Oil Corp.(2) | 23,142 | 522,547 | |
| Occidental Petroleum Corp.(2) | 5,460 | 335,517 | |
| ONEOK, Inc.(2) | 1,500 | 76,860 | |
| Williams Cos., Inc. (The)(2) | 11,095 | 317,650 | |
| $ 1,976,077 | |||
| Pharmaceuticals — 3.6% | |||
| Bristol-Myers Squibb Co.(2) | 12,551 | $ 892,251 | |
| Eli Lilly & Co. | 360 | 116,406 | |
| Johnson & Johnson(2) | 8,192 | 1,338,245 | |
| Merck & Co., Inc.(2) | 6,240 | 537,389 | |
| Pfizer, Inc.(2) | 2,000 | 87,520 | |
| Zoetis, Inc.(2) | 626 | 92,829 | |
| $ 3,064,640 | |||
| Real Estate Management & Development — 0.1% | |||
| CBRE Group, Inc., Class A(1)(2) | 1,740 | $ 117,467 | |
| $ 117,467 | |||
| Road & Rail — 1.4% | |||
| CSX Corp.(2) | 35,730 | $ 951,847 | |
| Norfolk Southern Corp.(2) | 1,133 | 237,534 | |
| $ 1,189,381 | |||
| Semiconductors & Semiconductor Equipment — 8.3% | |||
| Advanced Micro Devices, Inc.(1)(2) | 7,011 | $ 444,217 | |
| Analog Devices, Inc.(2) | 5,679 | 791,312 | |
| Broadcom, Inc.(2) | 1,315 | 583,873 | |
3
Eaton Vance
Tax-Managed Buy-Write Strategy Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued
| Security | Shares | Value | |
| Semiconductors & Semiconductor Equipment (continued) | |||
| Enphase Energy, Inc.(1)(2) | 320 | $ 88,790 | |
| Lam Research Corp.(2) | 2,448 | 895,968 | |
| Micron Technology, Inc.(2) | 9,956 | 498,796 | |
| NVIDIA Corp.(2) | 15,021 | 1,823,399 | |
| ON Semiconductor Corp.(1)(2) | 1,445 | 90,067 | |
| Qorvo, Inc.(1)(2) | 382 | 30,335 | |
| QUALCOMM, Inc.(2) | 10,450 | 1,180,641 | |
| Texas Instruments, Inc.(2) | 4,452 | 689,080 | |
| $ 7,116,478 | |||
| Software — 12.1% | |||
| Adobe, Inc.(1)(2) | 3,945 | $ 1,085,664 | |
| Ceridian HCM Holding, Inc.(1) | 1,025 | 57,277 | |
| DocuSign, Inc.(1) | 1,359 | 72,666 | |
| Microsoft Corp.(2) | 31,599 | 7,359,407 | |
| Oracle Corp.(2) | 6,790 | 414,665 | |
| Paycom Software, Inc.(1)(2) | 1,815 | 598,932 | |
| Salesforce, Inc.(1)(2) | 1,813 | 260,782 | |
| Zscaler, Inc.(1)(2) | 3,147 | 517,272 | |
| $10,366,665 | |||
| Specialty Retail — 1.9% | |||
| Bath & Body Works, Inc.(2) | 2,403 | $ 78,338 | |
| Best Buy Co., Inc.(2) | 1,823 | 115,469 | |
| Gap, Inc. (The)(2) | 10,841 | 89,005 | |
| Home Depot, Inc. (The)(2) | 2,991 | 825,336 | |
| TJX Cos., Inc. (The)(2) | 5,474 | 340,045 | |
| Tractor Supply Co.(2) | 1,174 | 218,223 | |
| $ 1,666,416 | |||
| Technology Hardware, Storage & Peripherals — 10.3% | |||
| Apple, Inc.(2) | 63,708 | $ 8,804,446 | |
| $ 8,804,446 | |||
| Textiles, Apparel & Luxury Goods — 0.4% | |||
| NIKE, Inc., Class B(2) | 3,892 | $ 323,503 | |
| $ 323,503 | |||
| Security | Shares | Value | |
| Tobacco — 0.3% | |||
| Altria Group, Inc.(2) | 6,427 | $ 259,522 | |
| $ 259,522 | |||
| Wireless Telecommunication Services — 0.8% | |||
| T-Mobile US, Inc.(1)(2) | 5,241 | $ 703,185 | |
| $ 703,185 | |||
| Total Common Stocks (identified cost $55,924,282) | $86,058,907 | ||
| Short-Term Investments — 0.1% |
| Security | Shares | Value | |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 2.80%(3) | 119,208 | $ 119,208 | |
| Total Short-Term Investments (identified cost $119,208) | $ 119,208 | ||
| Total Investments — 100.3% (identified cost $56,043,490) | $86,178,115 | ||
| Total Written Call Options — (0.4)% (premiums received $1,701,871) | $ (327,305) | ||
| Other Assets, Less Liabilities — 0.1% | $ 40,315 | ||
| Net Assets — 100.0% | $85,891,125 | ||
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
| (1) | Non-income producing security. |
| (2) | Security (or a portion thereof) has been pledged as collateral for written options. |
| (3) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of September 30, 2022. |
| Written Call Options (Exchange-Traded) — (0.4)% | |||||||
| Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | ||
| NASDAQ 100 Index | 2 | $2,194,244 | $12,300 | 10/3/22 | $ (60) | ||
| NASDAQ 100 Index | 2 | 2,194,244 | 12,400 | 10/5/22 | (85) | ||
| NASDAQ 100 Index | 3 | 3,291,366 | 12,750 | 10/7/22 | (135) | ||
4
Eaton Vance
Tax-Managed Buy-Write Strategy Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued
| Written Call Options (Exchange-Traded) (continued) | |||||||
| Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | ||
| NASDAQ 100 Index | 3 | $3,291,366 | $13,100 | 10/10/22 | $ (105) | ||
| NASDAQ 100 Index | 3 | 3,291,366 | 12,400 | 10/12/22 | (997) | ||
| NASDAQ 100 Index | 2 | 2,194,244 | 12,100 | 10/14/22 | (4,030) | ||
| NASDAQ 100 Index | 3 | 3,291,366 | 12,200 | 10/17/22 | (5,805) | ||
| NASDAQ 100 Index | 3 | 3,291,366 | 12,200 | 10/19/22 | (6,900) | ||
| NASDAQ 100 Index | 2 | 2,194,244 | 11,650 | 10/21/22 | (22,070) | ||
| NASDAQ 100 Index | 2 | 2,194,244 | 11,800 | 10/24/22 | (18,990) | ||
| NASDAQ 100 Index | 3 | 3,291,366 | 11,700 | 10/26/22 | (39,795) | ||
| NASDAQ 100 Index | 2 | 2,194,244 | 11,500 | 10/28/22 | (43,350) | ||
| S&P 500 Index | 11 | 3,944,182 | 3,970 | 10/3/22 | (28) | ||
| S&P 500 Index | 11 | 3,944,182 | 4,010 | 10/5/22 | (55) | ||
| S&P 500 Index | 11 | 3,944,182 | 4,100 | 10/7/22 | (55) | ||
| S&P 500 Index | 11 | 3,944,182 | 4,200 | 10/10/22 | (110) | ||
| S&P 500 Index | 11 | 3,944,182 | 4,010 | 10/12/22 | (523) | ||
| S&P 500 Index | 11 | 3,944,182 | 3,930 | 10/14/22 | (3,107) | ||
| S&P 500 Index | 11 | 3,944,182 | 3,950 | 10/17/22 | (3,080) | ||
| S&P 500 Index | 11 | 3,944,182 | 3,960 | 10/19/22 | (3,685) | ||
| S&P 500 Index | 12 | 4,302,744 | 3,785 | 10/21/22 | (32,040) | ||
| S&P 500 Index | 11 | 3,944,182 | 3,800 | 10/24/22 | (27,555) | ||
| S&P 500 Index | 11 | 3,944,182 | 3,750 | 10/26/22 | (45,925) | ||
| S&P 500 Index | 12 | 4,302,744 | 3,720 | 10/28/22 | (68,820) | ||
| Total | $(327,305) | ||||||
| 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 index call options above the current value of the index to generate premium income. In writing index call options, the Fund in effect, sells potential appreciation in the value of the applicable index 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 index decline.
5
Eaton Vance
Tax-Managed Buy-Write Strategy Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued
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 $119,208, which represents 0.1% 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 | $166,597 | $4,788,624 | $(4,955,278) | $57 | $ — | $ — | $200 | — |
| Liquidity Fund | — | 9,362,416 | (9,243,208) | — | — | 119,208 | 3,197 | 119,208 |
| Total | $57 | $ — | $119,208 | $3,397 | ||||
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) |
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 | $86,058,907* | $ — | $ — | $86,058,907 |
| Short-Term Investments | 119,208 | — | — | 119,208 |
| Total Investments | $86,178,115 | $ — | $ — | $86,178,115 |
| Liability Description | ||||
| Written Call Options | $ (327,305) | $ — | $ — | $ (327,305) |
| Total | $ (327,305) | $ — | $ — | $ (327,305) |
| * | 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.
Proposed Plan of Reorganization
In November 2022, the Trustees of the Fund approved an Agreement and Plan of Reorganization whereby Eaton Vance Tax-Managed Buy-Write Opportunities Fund (Buy-Write Opportunities Fund) would acquire substantially all the assets and assume substantially all the liabilities of the Fund in exchange for common shares of Buy-Write Opportunities Fund. The proposed reorganization is subject to approval by the shareholders of the Fund.
6