UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

 

Investment Company Act File Number

 

811-21973

 

 

 

 

 

 

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

(Exact Name of Registrant as Specified in Charter)

 

 

 

The Eaton Vance Building,
255 State Street, Boston, Massachusetts

 

02109

(Address of Principal Executive Offices)

 

(Zip code)

 

 

 

Maureen A. Gemma
Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and Address of Agent for Service)

 

Registrant’s Telephone Number, Including Area Code:

 

(617) 482-8260

 

 

 

Date of Fiscal Year End:

 

October 31

 

 

 

Date of Reporting Period:

 

July 31, 2008

 

 

 



 

Item 1. Schedule of Investments

 



 

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

 

as of July 31, 2008

 

PORTFOLIO OF INVESTMENTS (Unaudited)

 

Common Stocks — 99.4%

 

Security

 

Shares

 

Value

 

Aerospace & Defense — 2.8%

 

 

 

 

 

BAE Systems PLC

 

3,561,479

 

$

31,583,111

 

Boeing Co. (The)

 

152,897

 

9,343,536

 

General Dynamics Corp.

 

310,576

 

27,684,745

 

Lockheed Martin Corp.

 

233,038

 

24,312,854

 

Raytheon Co.

 

271,576

 

15,460,822

 

United Technologies Corp.

 

458,365

 

29,326,193

 

 

 

 

 

$

137,711,261

 

Auto Components — 0.5%

 

 

 

 

 

Johnson Controls, Inc.

 

796,240

 

$

24,014,598

 

 

 

 

 

$

24,014,598

 

Automobiles — 1.3%

 

 

 

 

 

DaimlerChrysler AG

 

1,106,929

 

$

63,964,833

 

 

 

 

 

$

63,964,833

 

Beverages — 1.0%

 

 

 

 

 

Coca-Cola Co. (The)

 

390,128

 

$

20,091,592

 

PepsiCo, Inc.

 

486,621

 

32,389,494

 

 

 

 

 

$

52,481,086

 

Biotechnology — 2.2%

 

 

 

 

 

Amgen, Inc. (1)

 

283,790

 

$

17,773,768

 

Genentech, Inc. (1)

 

295,816

 

28,176,474

 

Genzyme Corp. (1)

 

426,015

 

32,654,050

 

Gilead Sciences, Inc. (1)

 

610,020

 

32,928,880

 

 

 

 

 

$

111,533,172

 

Capital Markets — 6.1%

 

 

 

 

 

Bank of New York Mellon Corp. (The)

 

377,481

 

$

13,400,575

 

Credit Suisse Group

 

2,040,303

 

101,834,544

 

Goldman Sachs Group, Inc.

 

129,138

 

23,766,557

 

Invesco, Ltd.

 

507,407

 

11,817,509

 

Julius Baer Holding AG

 

1,454,058

 

92,135,141

 

State Street Corp.

 

213,001

 

15,259,392

 

T. Rowe Price Group, Inc.

 

177,988

 

10,652,582

 

UBS AG (1)

 

1,786,014

 

34,261,338

 

 

 

 

 

$

303,127,638

 

Chemicals — 2.3%

 

 

 

 

 

BASF AG

 

691,270

 

$

43,767,036

 

Bayer AG

 

392,750

 

33,808,988

 

E.I. Du Pont de Nemours & Co.

 

467,261

 

20,470,704

 

Monsanto Co.

 

130,048

 

15,490,017

 

 

 

 

 

$

113,536,745

 

Commercial & Professional Services — 0.4%

 

 

 

 

 

Waste Management, Inc.

 

561,889

 

$

19,969,535

 

 

 

 

 

$

19,969,535

 

Commercial Banks — 5.1%

 

 

 

 

 

Banco Itau Holding Financiera SA ADR

 

847,766

 

$

18,057,421

 

Banco Santander Central Hispano SA

 

5,079,762

 

98,912,719

 

HSBC Holdings PLC

 

6,669,616

 

110,231,527

 

Toronto-Dominion Bank

 

306,887

 

18,646,454

 

U.S. Bancorp

 

300,826

 

9,208,284

 

 

 

 

 

$

255,056,405

 

Communications Equipment — 2.2%

 

 

 

 

 

Cisco Systems, Inc. (1)

 

1,412,944

 

$

31,070,639

 

Nokia Oyj ADR

 

993,156

 

27,133,022

 

QUALCOMM, Inc.

 

559,256

 

30,949,227

 

Research In Motion, Ltd. (1)

 

175,933

 

21,608,091

 

 

 

 

 

$

110,760,979

 

 

1



 

Computer Peripherals — 2.1%

 

 

 

 

 

Apple, Inc. (1)

 

179,113

 

$

28,470,011

 

Hewlett-Packard Co.

 

658,351

 

29,494,125

 

International Business Machines Corp.

 

360,368

 

46,119,897

 

 

 

 

 

$

104,084,033

 

Diversified Financial Services — 1.4%

 

 

 

 

 

Bank of America Corp.

 

305,063

 

$

10,036,573

 

Citigroup, Inc.

 

1,010,181

 

18,880,283

 

JPMorgan Chase & Co.

 

982,222

 

39,907,680

 

 

 

 

 

$

68,824,536

 

Diversified Telecommunication Services — 4.3%

 

 

 

 

 

AT&T, Inc.

 

974,914

 

$

30,037,100

 

France Telecom SA

 

1,008,438

 

31,894,085

 

Koninklijke KPN NV

 

3,546,961

 

61,762,662

 

Telefonica O2 Czech Republic AS

 

2,144,629

 

72,431,288

 

Verizon Communications, Inc.

 

530,357

 

18,053,352

 

 

 

 

 

$

214,178,487

 

Electric Utilities — 3.1%

 

 

 

 

 

E.ON AG

 

395,239

 

$

75,340,222

 

Edison International

 

429,391

 

20,756,761

 

FirstEnergy Corp.

 

239,662

 

17,627,140

 

Iberdrola SA

 

2,957,579

 

40,186,422

 

 

 

 

 

$

153,910,545

 

Electrical Equipment — 1.7%

 

 

 

 

 

ABB, Ltd. (1)

 

2,276,507

 

$

59,648,028

 

Emerson Electric Co.

 

522,854

 

25,462,990

 

 

 

 

 

$

85,111,018

 

Energy Equipment & Services — 2.9%

 

 

 

 

 

Diamond Offshore Drilling, Inc.

 

181,247

 

$

21,622,767

 

Schlumberger, Ltd.

 

952,713

 

96,795,641

 

Transocean, Inc. (1)

 

183,318

 

24,936,748

 

 

 

 

 

$

143,355,156

 

Food & Staples Retailing — 1.2%

 

 

 

 

 

CVS Caremark Corp.

 

613,294

 

$

22,385,231

 

Wal-Mart Stores, Inc.

 

680,186

 

39,872,503

 

 

 

 

 

$

62,257,734

 

Food Products — 4.3%

 

 

 

 

 

Cadbury PLC ADR

 

220,372

 

$

10,439,022

 

Groupe Danone

 

131,733

 

9,773,172

 

Nestle SA

 

2,845,529

 

124,747,570

 

Unilever NV

 

2,517,853

 

69,456,810

 

 

 

 

 

$

214,416,574

 

Health Care Equipment & Supplies — 1.6%

 

 

 

 

 

Baxter International, Inc.

 

138,550

 

$

9,505,915

 

Becton, Dickinson and Co.

 

92,332

 

7,839,910

 

Boston Scientific Corp. (1)

 

1,316,677

 

15,655,289

 

Covidien, Ltd.

 

499,305

 

24,585,778

 

Medtronic, Inc.

 

262,655

 

13,876,064

 

Zimmer Holdings, Inc. (1)

 

129,409

 

8,917,574

 

 

 

 

 

$

80,380,530

 

Health Care Providers & Services — 0.3%

 

 

 

 

 

Aetna, Inc.

 

312,770

 

$

12,826,698

 

 

 

 

 

$

12,826,698

 

Hotels, Restaurants & Leisure — 0.7%

 

 

 

 

 

Marriott International, Inc., Class A

 

634,039

 

$

16,427,950

 

McDonald’s Corp.

 

327,767

 

19,597,189

 

 

 

 

 

$

36,025,139

 

Household Products — 1.3%

 

 

 

 

 

Colgate-Palmolive Co.

 

317,191

 

$

23,557,776

 

Kimberly-Clark Corp.

 

213,817

 

12,365,037

 

Procter & Gamble Co.

 

405,371

 

26,543,693

 

 

 

 

 

$

62,466,506

 

 

2



 

Industrial Conglomerates — 3.3%

 

 

 

 

 

General Electric Co.

 

1,981,494

 

$

56,056,465

 

Siemens AG

 

874,693

 

106,909,042

 

 

 

 

 

$

162,965,507

 

Insurance — 8.1%

 

 

 

 

 

Allianz SE

 

552,591

 

$

93,725,304

 

Berkshire Hathaway, Inc., Class A (1)

 

919

 

105,179,550

 

Chubb Corp.

 

457,766

 

21,991,079

 

Lincoln National Corp.

 

480,762

 

22,932,347

 

MetLife, Inc.

 

465,512

 

23,634,044

 

Travelers Companies, Inc. (The)

 

618,815

 

27,302,118

 

Zurich Financial Services AG

 

423,377

 

111,215,206

 

 

 

 

 

$

405,979,648

 

Internet Software & Services — 0.7%

 

 

 

 

 

Google, Inc., Class A (1)

 

77,039

 

$

36,497,226

 

 

 

 

 

$

36,497,226

 

IT Services — 0.9%

 

 

 

 

 

Accenture, Ltd., Class A

 

250,585

 

$

10,464,430

 

MasterCard, Inc., Class A

 

90,505

 

22,096,796

 

Visa, Inc., Class A (1)

 

169,642

 

12,394,044

 

 

 

 

 

$

44,955,270

 

Life Sciences Tools & Services — 0.3%

 

 

 

 

 

Thermo Fisher Scientific, Inc. (1)

 

234,437

 

$

14,188,127

 

 

 

 

 

$

14,188,127

 

Machinery — 0.6%

 

 

 

 

 

Danaher Corp.

 

277,525

 

$

22,104,866

 

Illinois Tool Works, Inc.

 

197,945

 

9,273,723

 

 

 

 

 

$

31,378,589

 

Media — 2.5%

 

 

 

 

 

Comcast Corp., Class A

 

1,653,580

 

$

34,096,820

 

Omnicom Group, Inc.

 

241,827

 

10,323,595

 

Time Warner, Inc.

 

1,470,047

 

21,051,073

 

Vivendi SA

 

1,370,009

 

57,295,521

 

 

 

 

 

$

122,767,009

 

Metals & Mining — 4.5%

 

 

 

 

 

Anglo American PLC

 

1,110,234

 

$

63,428,260

 

Arcelor Mittal

 

338,787

 

29,973,835

 

Cleveland-Cliffs, Inc.

 

160,972

 

17,450,974

 

Companhia Vale do Rio Doce ADR

 

594,571

 

17,854,967

 

Rio Tinto PLC

 

939,161

 

98,217,185

 

 

 

 

 

$

226,925,221

 

Multiline Retail — 0.3%

 

 

 

 

 

JC Penney Co., Inc.

 

438,492

 

$

13,518,708

 

 

 

 

 

$

13,518,708

 

Multi-Utilities — 2.8%

 

 

 

 

 

Public Service Enterprise Group, Inc.

 

530,206

 

$

22,162,611

 

RWE AG

 

316,181

 

37,843,985

 

Suez SA

 

1,362,390

 

81,527,056

 

 

 

 

 

$

141,533,652

 

Oil, Gas & Consumable Fuels — 11.6%

 

 

 

 

 

Anadarko Petroleum Corp.

 

598,109

 

$

34,636,492

 

BP PLC

 

7,848,055

 

80,497,198

 

ConocoPhillips

 

259,332

 

21,166,678

 

ENI SpA

 

3,246,356

 

109,575,335

 

Exxon Mobil Corp.

 

629,779

 

50,653,125

 

Hess Corp.

 

400,987

 

40,660,082

 

Occidental Petroleum Corp.

 

364,735

 

28,752,060

 

Royal Dutch Shell PLC

 

2,341,793

 

82,183,725

 

Total SA

 

1,439,332

 

110,236,515

 

Williams Cos., Inc.

 

343,331

 

11,003,759

 

XTO Energy, Inc.

 

250,314

 

11,822,330

 

 

 

 

 

$

581,187,299

 

 

3



 

Pharmaceuticals — 6.7%

 

 

 

 

 

Abbott Laboratories

 

603,758

 

$

34,015,726

 

Johnson & Johnson

 

513,786

 

35,178,927

 

Merck & Co., Inc.

 

713,162

 

23,463,030

 

Novartis AG

 

1,163,748

 

69,047,128

 

Roche Holding AG

 

574,286

 

106,045,382

 

Sanofi-Aventis SA

 

835,574

 

58,667,080

 

Wyeth

 

250,083

 

10,133,363

 

 

 

 

 

$

336,550,636

 

Real Estate Investment Trusts (REITs) — 0.4%

 

 

 

 

 

Boston Properties, Inc.

 

92,855

 

$

8,931,722

 

Simon Property Group, Inc.

 

137,124

 

12,701,796

 

 

 

 

 

$

21,633,518

 

Semiconductors & Semiconductor Equipment — 0.6%

 

 

 

 

 

ASML Holding NV

 

1,304,208

 

$

29,722,900

 

 

 

 

 

$

29,722,900

 

Software — 1.3%

 

 

 

 

 

Microsoft Corp.

 

1,725,066

 

$

44,368,697

 

Oracle Corp. (1)

 

1,059,103

 

22,802,488

 

 

 

 

 

$

67,171,185

 

Specialty Retail — 1.2%

 

 

 

 

 

Best Buy Co., Inc.

 

643,487

 

$

25,559,304

 

Home Depot, Inc.

 

672,395

 

16,023,173

 

Staples, Inc.

 

787,315

 

17,714,587

 

 

 

 

 

$

59,297,064

 

Tobacco — 3.0%

 

 

 

 

 

British American Tobacco PLC

 

2,767,828

 

$

99,820,923

 

Philip Morris International, Inc.

 

962,280

 

49,701,762

 

 

 

 

 

$

149,522,685

 

Wireless Telecommunication Services — 1.8%

 

 

 

 

 

Rogers Communications, Inc., Class B

 

252,457

 

$

8,555,768

 

Vodafone Group PLC

 

29,985,039

 

80,273,874

 

 

 

 

 

$

88,829,642

 

Total Common Stocks
(identified cost $5,027,434,146)

 

 

 

$

4,964,617,094

 

 

 

 

 

 

 

Rights — 0.2%

 

 

 

 

 

 

 

 

 

 

 

Security

 

Shares

 

Value

 

Commercial Services & Supplies — 0.2%

 

 

 

 

 

Suez Environnement SA, Expires 6/22/10 (1)

 

1,362,390

 

$

9,799,334

 

Total Rights
(identified cost $9,633,832)

 

 

 

$

9,799,334

 

 

 

 

 

 

 

Short-Term Investments — 2.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

 

 

Description

 

(000’s omitted)

 

Value

 

Investment in Cash Management Portfolio, 2.23% (2)

 

123,230

 

$

123,230,415

 

Total Short-Term Investments
(identified cost $123,230,415)

 

 

 

$

123,230,415

 

Total Investments — 102.1%
(identified cost $5,160,298,393)

 

 

 

$

5,097,646,843

 

 

4



 

Covered Call Options Written — (1.8)%

 

 

 

Number

 

Strike

 

Expiration

 

 

 

Description

 

of Contracts

 

Price

 

Date

 

Value

 

Dow Jones Euro Stoxx 50 Index

 

68,252

 

EUR

3,200

 

8/15/08

 

$

(19,178,882

)

FTSE 100 Index

 

18,836

 

GBP

5,200

 

8/15/08

 

(8,544,501

)

S&P 500 Index

 

2,471

 

$

1,240

 

8/16/08

 

(9,636,900

)

S&P 500 Index

 

982

 

$

1,260

 

8/16/08

 

(2,553,200

)

S&P 500 Index

 

4,100

 

$

1,265

 

8/16/08

 

(9,471,000

)

S&P 500 Index

 

2,178

 

$

1,270

 

8/16/08

 

(4,138,200

)

SMI Index

 

10,220

 

CHF

6,650

 

8/15/08

 

(4,995,903

)

AMEX EUROTOP 100 Index

 

25,499

 

$

238

 

8/12/08

 

(32,410,759

)

Total Covered Call Options Written
(premiums received $50,119,168)

 

 

 

 

$

(90,929,345

)

Other Assets, Less Liabilities — (0.3)%

 

 

 

 

$

(15,547,861

)

Net Assets — 100.0%

 

 

 

 

$

4,991,169,637

 

 

ADR

American Depository Receipt

CHF

Swiss Franc

EUR

Euro

GBP

British Pound Sterling

(1)

 

Non-income producing security.

(2)

 

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 July 31, 2008.  Net income allocated from the Investment in Cash Management Portfolio for the fiscal year to date ended July 31, 2008 was $7,734,441.

 

Country Concentration of Portfolio

 

 

 

Percentage

 

 

 

Country

 

of Net Assets

 

Value

 

United States

 

45.2

%

$

2,256,389,127

 

Switzerland

 

14.0

 

698,934,337

 

United Kingdom

 

13.2

 

656,674,825

 

Germany

 

9.1

 

455,359,410

 

France

 

7.2

 

359,192,763

 

Netherlands

 

3.2

 

160,942,372

 

Spain

 

2.8

 

139,099,141

 

Italy

 

2.2

 

109,575,335

 

Czech Republic

 

1.5

 

72,431,288

 

Canada

 

1.0

 

48,810,313

 

Brazil

 

0.7

 

35,912,388

 

Luxembourg

 

0.6

 

29,973,835

 

Finland

 

0.5

 

27,133,022

 

Cayman Islands

 

0.5

 

24,936,748

 

Bermuda

 

0.4

 

22,281,939

 

 

 

102.1

%

$

5,097,646,843

 

 

The cost and unrealized appreciation (depreciation) of investments of the Fund at July 31, 2008, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

 

$

5,148,462,628

 

Gross unrealized appreciation

 

$

264,758,436

 

Gross unrealized depreciation

 

(315,574,221

)

Net unrealized depreciation

 

$

(50,815,785

)

 

Written call option activity for the fiscal year to date ended July 31, 2008 was as follows:

 

 

 

Number of
Contracts

 

Premiums Received

 

Outstanding, beginning of period

 

124,825

 

$

50,409,979

 

Options written

 

1,191,487

 

507,144,216

 

Options terminated in closing purchase transactions

 

(943,689

)

(416,125,790

)

Options expired

 

(240,085

)

(91,309,237

)

Outstanding, end of period

 

132,538

 

$

50,119,168

 

 

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent.  At July 31, 2008, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

 

5



 

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.

 



 

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-Managed Global Diversified Equity Income Fund

 

By:

 

/s/ Duncan W. Richardson

 

 

Duncan W. Richardson

 

 

President

 

 

 

Date:

 

September 25, 2008

 

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:

 

September 25, 2008

 

 

 

By:

 

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

 

Treasurer

 

 

 

Date:

 

September 25, 2008