Eaton Vance Tax-Managed Global Diversified Equity Income Fund

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

811-21973

Investment Company Act File Number

 

 

Eaton Vance Tax-Managed Global Diversified Equity Income 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, 2013

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance

Tax-Managed Global Diversified Equity Income Fund

January 31, 2013

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.1%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 1.2%

      

Boeing Co. (The)

      331,683       $ 24,501,423   

United Technologies Corp.

      153,821         13,470,105   
     

 

 

  
      $ 37,971,528   
     

 

 

  

Automobiles — 1.0%

      

Bayerische Motoren Werke AG

      318,781       $ 32,107,141   
     

 

 

  
      $ 32,107,141   
     

 

 

  

Beverages — 3.3%

      

Anheuser-Busch InBev NV

      356,407       $ 31,359,745   

Beam, Inc.

      115,755         7,100,412   

Coca-Cola Co. (The)

      686,623         25,569,840   

Diageo PLC

      1,404,807         41,818,504   
     

 

 

  
      $ 105,848,501   
     

 

 

  

Biotechnology — 1.7%

      

Celgene Corp.(1)

      303,040       $ 29,988,838   

Gilead Sciences, Inc.(1)

      644,290         25,417,241   
     

 

 

  
      $ 55,406,079   
     

 

 

  

Capital Markets — 2.9%

      

Charles Schwab Corp. (The)

      522,996       $ 8,645,124   

Credit Suisse Group AG(1)

      456,934         13,494,542   

Deutsche Bank AG

      419,020         21,671,459   

Goldman Sachs Group, Inc. (The)

      109,610         16,206,935   

UBS AG(1)

      1,855,579         32,231,407   
     

 

 

  
      $ 92,249,467   
     

 

 

  

Chemicals — 4.3%

      

BASF SE

      488,999       $ 49,526,141   

Linde AG

      123,886         22,581,086   

LyondellBasell Industries NV, Class A

      193,728         12,286,230   

Monsanto Co.

      311,375         31,557,856   

PPG Industries, Inc.

      37,233         5,133,313   

Syngenta AG

      38,852         16,707,829   
     

 

 

  
      $     137,792,455   
     

 

 

  

Commercial Banks — 8.4%

      

Banco Bilbao Vizcaya Argentaria SA

      1,909,373       $ 18,982,572   

Banco Santander SA

      2,973,509         24,889,968   

Bank of Nova Scotia (The)

      415,261         24,446,415   

Barclays PLC

      6,267,719         30,091,695   

BNP Paribas

      332,040         20,833,636   

HSBC Holdings PLC

      4,533,456         51,553,374   

Intesa Sanpaolo SpA

      6,626,290         13,506,696   

Itau Unibanco Holding SA ADR, PFC Shares

      1,018,555         17,549,703   

PNC Financial Services Group, Inc.

      198,697         12,279,475   

Regions Financial Corp.

      1,036,893         8,067,028   

Royal Bank of Scotland Group PLC(1)

      3,062,846         16,653,879   

Wells Fargo & Co.

      835,403         29,097,086   
     

 

 

  
      $     267,951,527   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Communications Equipment — 0.7%

      

QUALCOMM, Inc.

      149,677       $ 9,883,172   

Telefonaktiebolaget LM Ericsson, Class B

      945,475         10,997,058   
     

 

 

  
      $ 20,880,230   
     

 

 

  

Computers & Peripherals — 1.5%

      

Apple, Inc.

      87,917       $ 40,029,489   

EMC Corp.(1)

      366,842         9,027,982   
     

 

 

  
      $ 49,057,471   
     

 

 

  

Consumer Finance — 0.6%

      

American Express Co.

      321,494       $ 18,907,062   
     

 

 

  
      $ 18,907,062   
     

 

 

  

Diversified Financial Services — 2.2%

      

Bank of America Corp.

      2,496,828       $ 28,264,093   

Citigroup, Inc.

      444,847         18,754,749   

JPMorgan Chase & Co.

      526,091         24,752,582   
     

 

 

  
      $ 71,771,424   
     

 

 

  

Diversified Telecommunication Services — 2.0%

      

AT&T, Inc.

      535,033       $ 18,613,798   

CenturyLink, Inc.

      239,129         9,672,768   

Deutsche Telekom AG

      1,300,818         15,980,802   

Ziggo NV

      650,233         20,721,731   
     

 

 

  
      $ 64,989,099   
     

 

 

  

Electric Utilities — 2.7%

      

American Electric Power Co., Inc.

      199,484       $ 9,034,630   

Duke Energy Corp.

      101,241         6,959,306   

Edison International

      151,426         7,297,219   

Enel SpA

      3,129,117         13,643,496   

PPL Corp.

      267,081         8,089,883   

Southern Co. (The)

      143,417         6,343,334   

SSE PLC

      1,536,047         34,573,374   
     

 

 

  
      $ 85,941,242   
     

 

 

  

Electrical Equipment — 2.3%

      

ABB, Ltd.(1)

      1,866,852       $ 40,019,175   

Emerson Electric Co.

      311,884         17,855,359   

Schneider Electric SA

      219,298         16,683,692   
     

 

 

  
      $ 74,558,226   
     

 

 

  

Energy Equipment & Services — 0.8%

      

Halliburton Co.

      345,863       $ 14,069,707   

National Oilwell Varco, Inc.

      170,663         12,652,955   
     

 

 

  
      $ 26,722,662   
     

 

 

  

Food & Staples Retailing — 0.6%

      

Costco Wholesale Corp.

      188,201       $ 19,260,490   
     

 

 

  
      $ 19,260,490   
     

 

 

  

Food Products — 6.5%

      

Danone SA

      249,399       $ 17,276,785   

Hershey Co. (The)

      128,023         10,171,427   

Kraft Foods Group, Inc.

      203,792         9,419,266   

Mondelez International, Inc., Class A

      366,700         10,190,593   

Nestle SA

      1,465,796         102,924,481   

Unilever NV

      1,402,506         56,824,272   
     

 

 

  
      $ 206,806,824   
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Health Care Equipment & Supplies — 0.7%

      

Abbott Laboratories

      277,584       $ 9,404,546   

Covidien PLC

      216,160         13,475,414   
     

 

 

  
      $ 22,879,960   
     

 

 

  

Health Care Providers & Services — 0.4%

      

Express Scripts Holding Co.(1)

      258,966       $ 13,833,964   
     

 

 

  
      $ 13,833,964   
     

 

 

  

Hotels, Restaurants & Leisure — 0.6%

      

McDonald’s Corp.

      209,336       $ 19,947,627   
     

 

 

  
      $ 19,947,627   
     

 

 

  

Household Products — 2.0%

      

Colgate-Palmolive Co.

      191,629       $ 20,575,206   

Procter & Gamble Co.

      332,133         24,963,116   

Svenska Cellulosa AB, Class B

      708,804         17,184,346   
     

 

 

  
      $ 62,722,668   
     

 

 

  

Industrial Conglomerates — 3.2%

      

Danaher Corp.

      343,685       $ 20,597,042   

General Electric Co.

      784,108         17,469,926   

Siemens AG

      579,097         63,447,915   
     

 

 

  
      $     101,514,883   
     

 

 

  

Insurance — 3.4%

      

ACE, Ltd.

      172,893       $ 14,752,960   

Aflac, Inc.

      264,261         14,021,689   

Allianz SE

      196,242         28,079,697   

AXA SA

      1,357,193         25,128,372   

Prudential PLC

      1,703,711         25,862,189   
     

 

 

  
      $     107,844,907   
     

 

 

  

Internet & Catalog Retail — 1.1%

      

Amazon.com, Inc.(1)

      133,548       $ 35,456,994   
     

 

 

  
      $ 35,456,994   
     

 

 

  

Internet Software & Services — 2.3%

      

eBay, Inc.(1)

      736,734       $ 41,205,533   

Google, Inc., Class A(1)

      42,326         31,985,335   
     

 

 

  
      $ 73,190,868   
     

 

 

  

IT Services — 2.4%

      

Accenture PLC, Class A

      273,402       $ 19,654,870   

International Business Machines Corp.

      178,443         36,236,420   

Teradata Corp.(1)

      198,608         13,239,209   

Visa, Inc., Class A

      58,748         9,276,897   
     

 

 

  
      $ 78,407,396   
     

 

 

  

Machinery — 0.6%

      

Deere & Co.

      198,647       $ 18,684,737   
     

 

 

  
      $ 18,684,737   
     

 

 

  

Media — 1.4%

      

Comcast Corp., Class A

      498,069       $ 18,966,468   

Virgin Media, Inc.

      90,090         3,548,645   

Walt Disney Co. (The)

      440,766         23,748,472   
     

 

 

  
      $ 46,263,585   
     

 

 

  

Metals & Mining — 2.9%

      

Anglo American PLC

      614,297       $ 18,374,479   

ArcelorMittal

      664,759         11,406,902   

 

3

 

 

                                                 
Security    Shares      Value  

BHP Billiton, Ltd. ADR

      554,874       $ 43,679,681   

Freeport-McMoRan Copper & Gold, Inc.

      280,354         9,882,479   

Glencore International PLC

      1,541,450         9,622,320   
     

 

 

  
      $ 92,965,861   
     

 

 

  

Multi-Utilities — 1.0%

      

National Grid PLC

      2,205,626       $ 24,150,817   

Sempra Energy

      111,487         8,367,099   
     

 

 

  
      $ 32,517,916   
     

 

 

  

Multiline Retail — 1.2%

      

Dollar General Corp.(1)

      515,889       $ 23,844,390   

Macy’s, Inc.

      367,116         14,504,753   
     

 

 

  
      $ 38,349,143   
     

 

 

  

Oil, Gas & Consumable Fuels — 11.7%

      

Alpha Natural Resources, Inc.(1)

      96,420       $ 854,281   

Anadarko Petroleum Corp.

      121,463         9,719,469   

BP PLC

      6,194,096         45,851,883   

Chevron Corp.

      114,714         13,209,317   

ConocoPhillips

      458,298         26,581,284   

ENI SpA

      956,655         23,894,897   

EOG Resources, Inc.

      62,976         7,870,740   

Exxon Mobil Corp.

      281,379         25,315,669   

Occidental Petroleum Corp.

      193,387         17,070,271   

Phillips 66

      319,874         19,374,768   

Royal Dutch Shell PLC, Class B

      2,887,739         104,960,345   

Statoil ASA

      1,123,153         29,923,591   

Total SA

      922,596         49,997,618   
     

 

 

  
      $     374,624,133   
     

 

 

  

Pharmaceuticals — 11.4%

      

Allergan, Inc.

      182,157       $ 19,128,307   

AstraZeneca PLC

      876,487         42,351,608   

Bayer AG

      450,529         44,459,418   

GlaxoSmithKline PLC

      927,139         21,207,315   

Johnson & Johnson

      109,820         8,117,894   

Novo Nordisk A/S, Class B

      348,338         64,126,268   

Pfizer, Inc.

      1,082,435         29,528,827   

Roche Holding AG PC

      327,601         72,412,585   

Sanofi

      664,714         64,800,440   
     

 

 

  
      $ 366,132,662   
     

 

 

  

Real Estate Investment Trusts (REITs) — 0.7%

      

AvalonBay Communities, Inc.

      81,961       $ 10,637,718   

Boston Properties, Inc.

      124,513         13,108,729   
     

 

 

  
      $ 23,746,447   
     

 

 

  

Road & Rail — 0.5%

      

Union Pacific Corp.

      128,602       $ 16,906,019   
     

 

 

  
      $ 16,906,019   
     

 

 

  

Semiconductors & Semiconductor Equipment — 0.1%

      

Broadcom Corp., Class A

      94,450       $ 3,064,903   
     

 

 

  
      $ 3,064,903   
     

 

 

  

Software — 2.0%

      

Microsoft Corp.

      561,259       $ 15,417,785   

Oracle Corp.

      367,746         13,058,660   

SAP AG

      440,936         36,159,968   
     

 

 

  
      $ 64,636,413   
     

 

 

  

 

4

 

 

                                                 
Security    Shares      Value  

Specialty Retail — 1.8%

      

Home Depot, Inc. (The)

      143,565       $ 9,607,370   

Industria de Diseno Textil SA

      221,691         30,985,249   

Kingfisher PLC

      3,679,861         15,725,387   
     

 

 

  
      $ 56,318,006   
     

 

 

  

Textiles, Apparel & Luxury Goods — 2.4%

      

Adidas AG

      109,110       $ 10,132,792   

Compagnie Financiere Richemont SA, Class A

      177,510         14,581,297   

LVMH Moet Hennessy Louis Vuitton SA

      185,762         34,974,762   

NIKE, Inc., Class B

      302,030         16,324,722   
     

 

 

  
      $ 76,013,573   
     

 

 

  

Tobacco — 1.4%

      

British American Tobacco PLC

      627,422       $ 32,608,117   

Philip Morris International, Inc.

      146,211         12,889,962   
     

 

 

  
      $ 45,498,079   
     

 

 

  

Wireless Telecommunication Services — 2.2%

      

Rogers Communications, Inc., Class B

      150,627       $ 7,002,649   

Vodafone Group PLC

      23,225,942         63,387,284   
     

 

 

  
      $ 70,389,933   
     

 

 

  

Total Common Stocks
(identified cost $2,590,505,953)

       $     3,210,132,105   
     

 

 

  

Short-Term Investments — 0.1%

      
Description   

Interest

(000’s omitted)

      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.12%(2)

    $ 3,076       $ 3,075,995   
     

 

 

  

Total Short-Term Investments
(identified cost $3,075,995)

       $ 3,075,995   
     

 

 

  

Total Investments — 100.2%
(identified cost $2,593,581,948)

       $ 3,213,208,100   
     

 

 

  
                                                                                                   

Call Options Written — (1.0)%

  

Exchange-Traded Options — (0.5)%

  

Description    Number of
Contracts		     

Strike

Price

      Expiration
Date		      Value  

S&P 500 Index

      1,450       $ 1,475         2/8/13       $ (3,900,500 ) 

S&P 500 Index

      1,460         1,470         2/16/13         (4,752,300 ) 

S&P 500 Index

      1,210         1,475         2/22/13         (3,726,800 ) 

S&P 500 Index

      1,490         1,500         3/1/13         (2,555,350 ) 
           

 

 

  
            $     (14,934,950 ) 
           

 

 

  

Over-the-Counter Options — (0.5)%

            
Description    Number of
Contracts		     

Strike

Price

      Expiration
Date		      Value  

Dow Jones Euro Stoxx 50 Index(3)

      16,200       EUR 2,700         2/15/13       $ (776,472 ) 

Dow Jones Euro Stoxx 50 Index(4)

      52,100       EUR 2,725         2/15/13         (1,552,774 ) 

Dow Jones Euro Stoxx 50 Index(5)

      22,400       EUR 2,725         2/15/13         (667,604 ) 

 

5

 

 

                                                                                                   
Description    Number of
Contracts		     

Strike

Price

      Expiration
Date		      Value  

Dow Jones Euro Stoxx 50 Index(6)

      36,050       EUR 2,725         2/15/13       $ (1,074,424 ) 

FTSE 100 Index(6)

      5,350       GBP 6,100         2/15/13         (1,667,322 ) 

FTSE 100 Index(5)

      12,600       GBP 6,125         2/15/13         (3,472,151 ) 

FTSE 100 Index(4)

      11,700       GBP 6,125         2/15/13         (3,224,140 ) 

SMI Index(4)

      5,600       CHF 7,250         2/15/13         (1,159,936 ) 

SMI Index(4)

      7,450       CHF 7,300         2/15/13         (1,207,489 ) 
           

 

 

  
            $ (14,802,312 ) 
           

 

 

  

Total Call Options Written
(premiums received $19,942,747)

             $ (29,737,262 ) 
           

 

 

  

Other Assets, Less Liabilities — 0.8%

             $ 24,657,489   
           

 

 

  

Net Assets — 100.0%

             $     3,208,128,327   
           

 

 

  

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

 

ADR

   -   American Depositary Receipt

PC

   -   Participation Certificate

PFC Shares

   -   Preference Shares

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 January 31, 2013. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended January 31, 2013 was $10,776.

 

(3) Counterparty is Deutsche Bank AG.

 

(4) Counterparty is Citibank NA.

 

(5) Counterparty is Barclays Bank PLC.

 

(6) Counterparty is Credit Suisse International.

Country Concentration of Portfolio

 

                                                 
Country    Percentage of
Net Assets		     Value  

United States

      39.5 %    $     1,266,907,777   

United Kingdom

      18.0        578,792,570   

Germany

      10.1        324,146,419   

Switzerland

      9.6        307,124,276   

France

      7.2        229,695,305   

Netherlands

      2.8        89,832,233   

Spain

      2.3        74,857,789   

Denmark

      2.0        64,126,268   

 

6

 

 

                                                 
Country    Percentage of
Net Assets		     Value  

Italy

      1.6 %    $ 51,045,089   

Australia

      1.4        43,679,681   

Ireland

      1.0        33,130,284   

Canada

      1.0        31,449,064   

Belgium

      1.0        31,359,745   

Norway

      0.9        29,923,591   

Sweden

      0.9        28,181,404   

Brazil

      0.5        17,549,703   

Luxembourg

      0.4        11,406,902   
  

 

 

    

 

 

  

Total Investments

      100.2 %    $     3,213,208,100   
  

 

 

    

 

 

  

The cost and unrealized appreciation (depreciation) of investments of the Fund at January 31, 2013, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $ 2,602,262,721   
  

 

 

  

Gross unrealized appreciation

    $ 666,324,726   

Gross unrealized depreciation

      (55,379,347 ) 
  

 

 

  

Net unrealized appreciation

    $ 610,945,379   
  

 

 

  

Written options activity for the fiscal year to date ended January 31, 2013 was as follows:

 

     Number of
Contracts		     Premiums
Received		  
Outstanding, beginning of period      187,440      $ 15,273,296   
Options written      537,100        59,491,858   
Options terminated in closing purchase transactions      (471,000 )      (47,325,390 ) 
Options expired      (78,480 )      (7,497,017 ) 
  

 

 

    

 

 

  
Outstanding, end of period      175,060      $     19,942,747   
  

 

 

    

 

 

  

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At January 31, 2013, the Fund had sufficient cash and/or securities to cover commitments under these 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.

At January 31, 2013, the aggregate fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in a liability position and whose primary underlying risk exposure is equity price risk was $29,737,262.

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.

 

7

 

 

At January 31, 2013, 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          

Consumer Discretionary

    $ 165,949,441      $ 138,506,628      $ —       $ 304,456,069   

Consumer Staples

      140,140,312        299,996,250        —         440,136,562   

Energy

      146,718,461        254,628,334        —         401,346,795   

Financials

      291,722,755        290,748,079        —         582,470,834   

Health Care

      148,895,031        309,357,634        —         458,252,665   

Industrials

      129,484,611        120,150,782        —         249,635,393   

Information Technology

      242,080,255        47,157,026        —         289,237,281   

Materials

      102,539,559        128,218,757        —         230,758,316   

Telecommunication Services

      35,289,215        100,089,817        —         135,379,032   

Utilities

      46,091,471        72,367,687        —         118,459,158   

Total Common Stocks

    $ 1,448,911,111      $ 1,761,220,994 *    $ —       $ 3,210,132,105   

Short-Term Investments

    $ —      $ 3,075,995      $ —       $ 3,075,995   

Total Investments

    $     1,448,911,111      $     1,764,296,989      $     —       $     3,213,208,100   
Liability Description                              

Call Options Written

    $ (14,934,950 )    $ (14,802,312 )    $ —       $ (29,737,262 ) 

Total

    $ (14,934,950 )    $ (14,802,312 )    $ —       $ (29,737,262 ) 

 

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The Fund held no investments or other financial instruments as of October 31, 2012 whose fair value was determined using Level 3 inputs. At January 31, 2013, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.

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.

 

8

 

 

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/ Walter A. Row, III

  Walter A. Row, III
  President
Date:   March 25, 2013

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/ Walter A. Row, III

  Walter A. Row, III
  President
Date:   March 25, 2013
By:  

/s/ James F. Kirchner

  James F. Kirchner
  Treasurer
Date:   March 25, 2013