UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
|
Investment Company Act file number |
811-22057 | |||||||
|
| ||||||||
|
Cohen & Steers Global Income Builder, Inc. | ||||||||
|
(Exact name of registrant as specified in charter) | ||||||||
|
| ||||||||
|
280 Park Avenue New York, NY |
|
10017 | ||||||
|
(Address of principal executive offices) |
|
(Zip code) | ||||||
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| ||||||||
|
Tina M. Payne 280 Park Avenue New York, NY 10017 | ||||||||
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(Name and address of agent for service) | ||||||||
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| ||||||||
|
Registrant’s telephone number, including area code: |
(212) 832-3232 |
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Date of fiscal year end: |
December 31 |
| ||||||
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|
Date of reporting period: |
September 30, 2016 |
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Item 1. Schedule of Investments
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
September 30, 2016 (Unaudited)
|
|
|
Number |
|
Value |
| |
|
COMMON STOCK 114.2% |
|
|
|
|
| |
|
AUSTRALIA 1.1% |
|
|
|
|
| |
|
ELECTRIC—REGULATED ELECTRIC 0.1% |
|
|
|
|
| |
|
Spark Infrastructure Group(a) |
|
172,914 |
|
$ |
306,931 |
|
|
|
|
|
|
|
| |
|
REAL ESTATE 0.7% |
|
|
|
|
| |
|
DIVERSIFIED 0.2% |
|
|
|
|
| |
|
Dexus Property Group(a) |
|
67,264 |
|
472,769 |
| |
|
|
|
|
|
|
| |
|
RETAIL 0.5% |
|
|
|
|
| |
|
Scentre Group(a) |
|
130,655 |
|
471,688 |
| |
|
Vicinity Centres(a) |
|
236,594 |
|
576,997 |
| |
|
|
|
|
|
1,048,685 |
| |
|
TOTAL REAL ESTATE |
|
|
|
1,521,454 |
| |
|
|
|
|
|
|
| |
|
TOLL ROADS 0.3% |
|
|
|
|
| |
|
Transurban Group(a),(b) |
|
89,426 |
|
781,521 |
| |
|
TOTAL AUSTRALIA |
|
|
|
2,609,906 |
| |
|
|
|
|
|
|
| |
|
AUSTRIA 0.2% |
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED |
|
|
|
|
| |
|
BUWOG AG(a),(c) |
|
14,924 |
|
403,725 |
| |
|
|
|
|
|
|
| |
|
CANADA 4.3% |
|
|
|
|
| |
|
CONSUMER—CYCLICAL—AUTOMOBILES 0.8% |
|
|
|
|
| |
|
Magna International(d) |
|
40,093 |
|
1,721,131 |
| |
|
|
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.9% |
|
|
|
|
| |
|
Suncor Energy(d) |
|
76,800 |
|
2,131,984 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL—BANKS 0.7% |
|
|
|
|
| |
|
Royal Bank of Canada |
|
26,111 |
|
1,617,272 |
| |
|
|
|
|
|
|
| |
|
MATERIALS—METALS & MINING 0.4% |
|
|
|
|
| |
|
Goldcorp(b) |
|
56,900 |
|
938,972 |
| |
|
|
|
|
|
|
| |
|
PIPELINES—C-CORP 1.2% |
|
|
|
|
| |
|
Enbridge(b) |
|
19,528 |
|
858,253 |
| |
|
Keyera Corp. |
|
19,402 |
|
627,335 |
| |
|
TransCanada Corp. |
|
26,824 |
|
1,273,984 |
| |
|
|
|
|
|
2,759,572 |
| |
|
REAL ESTATE 0.3% |
|
|
|
|
| |
|
OFFICE 0.2% |
|
|
|
|
| |
|
Allied Properties REIT |
|
15,973 |
|
458,754 |
| |
|
|
|
|
|
|
| |
|
RETAIL 0.1% |
|
|
|
|
| |
|
Smart Real Estate Investment Trust |
|
10,234 |
|
275,752 |
| |
|
|
|
Number |
|
Value |
| |
|
TOTAL REAL ESTATE |
|
|
|
$ |
734,506 |
|
|
TOTAL CANADA |
|
|
|
9,903,437 |
| |
|
|
|
|
|
|
| |
|
CHINA 0.2% |
|
|
|
|
| |
|
AIRPORTS 0.1% |
|
|
|
|
| |
|
Beijing Capital International Airport Co., Ltd., Class H (HKD)(a) |
|
208,000 |
|
237,105 |
| |
|
|
|
|
|
|
| |
|
TOLL ROADS 0.1% |
|
|
|
|
| |
|
Jiangsu Expressway Co., Ltd., Class H (HKD)(a) |
|
188,000 |
|
260,893 |
| |
|
TOTAL CHINA |
|
|
|
497,998 |
| |
|
|
|
|
|
|
| |
|
FRANCE 4.9% |
|
|
|
|
| |
|
CONSUMER STAPLES 1.4% |
|
|
|
|
| |
|
Danone SA(a),(d) |
|
42,982 |
|
3,191,534 |
| |
|
|
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.7% |
|
|
|
|
| |
|
Total SA(a) |
|
34,080 |
|
1,620,864 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL—BANKS 0.8% |
|
|
|
|
| |
|
BNP Paribas(a),(d) |
|
36,900 |
|
1,897,898 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE—PHARMACEUTICALS 0.8% |
|
|
|
|
| |
|
Sanofi(a),(d) |
|
25,158 |
|
1,915,804 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS—AEROSPACE & DEFENSE 0.4% |
|
|
|
|
| |
|
Thales SA(a) |
|
11,662 |
|
1,073,847 |
| |
|
|
|
|
|
|
| |
|
RAILWAYS 0.2% |
|
|
|
|
| |
|
Groupe Eurotunnel SE(a) |
|
35,472 |
|
384,246 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 0.6% |
|
|
|
|
| |
|
DIVERSIFIED 0.1% |
|
|
|
|
| |
|
Gecina SA(a) |
|
1,968 |
|
310,136 |
| |
|
|
|
|
|
|
| |
|
RETAIL 0.5% |
|
|
|
|
| |
|
Klepierre(a),(b) |
|
22,917 |
|
1,051,957 |
| |
|
TOTAL REAL ESTATE |
|
|
|
1,362,093 |
| |
|
TOTAL FRANCE |
|
|
|
11,446,286 |
| |
|
|
|
|
|
|
| |
|
GERMANY 5.6% |
|
|
|
|
| |
|
FINANCIAL—INSURANCE 1.2% |
|
|
|
|
| |
|
Allianz SE(a),(d) |
|
18,800 |
|
2,793,869 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE—PHARMACEUTICALS 0.7% |
|
|
|
|
| |
|
Bayer AG(a) |
|
16,951 |
|
1,702,392 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS—ELECTRICAL EQUIPMENT 1.3% |
|
|
|
|
| |
|
Siemens AG(a),(d) |
|
25,069 |
|
2,939,596 |
| |
|
|
|
Number |
|
Value |
| |
|
MATERIALS—CHEMICALS 0.8% |
|
|
|
|
| |
|
Linde AG(a) |
|
10,600 |
|
$ |
1,801,158 |
|
|
|
|
|
|
|
| |
|
REAL ESTATE 0.4% |
|
|
|
|
| |
|
DIVERSIFIED 0.1% |
|
|
|
|
| |
|
ADO Properties SA, 144A(a),(e) |
|
5,336 |
|
213,491 |
| |
|
|
|
|
|
|
| |
|
OFFICE 0.1% |
|
|
|
|
| |
|
Alstria Office REIT AG(a),(c) |
|
15,221 |
|
209,047 |
| |
|
|
|
|
|
|
| |
|
RESIDENTIAL 0.2% |
|
|
|
|
| |
|
Deutsche Wohnen AG(a) |
|
12,582 |
|
457,835 |
| |
|
TOTAL REAL ESTATE |
|
|
|
880,373 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY—SOFTWARE 1.2% |
|
|
|
|
| |
|
SAP AG(a),(d) |
|
29,876 |
|
2,732,229 |
| |
|
TOTAL GERMANY |
|
|
|
12,849,617 |
| |
|
|
|
|
|
|
| |
|
HONG KONG 2.6% |
|
|
|
|
| |
|
ELECTRIC—REGULATED ELECTRIC 0.2% |
|
|
|
|
| |
|
Power Assets Holdings Ltd.(a) |
|
60,500 |
|
592,033 |
| |
|
|
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.5% |
|
|
|
|
| |
|
CNOOC Ltd.(a) |
|
854,000 |
|
1,077,332 |
| |
|
|
|
|
|
|
| |
|
INVESTMENT COMPANY—DIVERSIFIED FINANCIALS 0.5% |
|
|
|
|
| |
|
CK Hutchison Holdings Ltd. (Cayman Islands)(a) |
|
83,005 |
|
1,060,990 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 0.9% |
|
|
|
|
| |
|
DIVERSIFIED 0.7% |
|
|
|
|
| |
|
Cheung Kong Property Holdings Ltd.(a) |
|
75,500 |
|
555,367 |
| |
|
Hang Lung Properties Ltd.(a) |
|
105,000 |
|
238,175 |
| |
|
Sun Hung Kai Properties Ltd.(a),(b) |
|
34,404 |
|
523,036 |
| |
|
Wharf Holdings Ltd.\The(a),(b) |
|
58,000 |
|
425,521 |
| |
|
|
|
|
|
1,742,099 |
| |
|
OFFICE 0.1% |
|
|
|
|
| |
|
Hongkong Land Holdings Ltd. (USD)(a) |
|
17,901 |
|
127,541 |
| |
|
|
|
|
|
|
| |
|
RETAIL 0.1% |
|
|
|
|
| |
|
Link REIT(a) |
|
42,000 |
|
310,048 |
| |
|
TOTAL REAL ESTATE |
|
|
|
2,179,688 |
| |
|
|
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES 0.5% |
|
|
|
|
| |
|
China Mobile Ltd.(a) |
|
96,500 |
|
1,185,441 |
| |
|
TOTAL HONG KONG |
|
|
|
6,095,484 |
| |
|
|
|
Number |
|
Value |
| |
|
IRELAND 2.4% |
|
|
|
|
| |
|
HEALTH CARE—HEALTH CARE EQUIPMENT & SERVICES 1.3% |
|
|
|
|
| |
|
Medtronic PLC (USD)(d) |
|
35,737 |
|
$ |
3,087,677 |
|
|
|
|
|
|
|
| |
|
INDUSTRIALS—BUILDING PRODUCTS 0.6% |
|
|
|
|
| |
|
Allegion PLC (USD)(b) |
|
19,141 |
|
1,319,006 |
| |
|
|
|
|
|
|
| |
|
INFORMATION TECHNOLOGY—IT CONSULTING & SERVICES 0.5% |
|
|
|
|
| |
|
Accenture PLC, Class A (USD) |
|
9,257 |
|
1,130,928 |
| |
|
TOTAL IRELAND |
|
|
|
5,537,611 |
| |
|
|
|
|
|
|
| |
|
ITALY 0.6% |
|
|
|
|
| |
|
COMMUNICATIONS—TOWERS 0.2% |
|
|
|
|
| |
|
Ei Towers S.p.A.(a),(c) |
|
10,224 |
|
538,486 |
| |
|
|
|
|
|
|
| |
|
GAS DISTRIBUTION 0.4% |
|
|
|
|
| |
|
Snam S.p.A.(a),(b) |
|
156,291 |
|
866,612 |
| |
|
TOTAL ITALY |
|
|
|
1,405,098 |
| |
|
|
|
|
|
|
| |
|
JAPAN 9.9% |
|
|
|
|
| |
|
AUTOMOTIVE 0.7% |
|
|
|
|
| |
|
Toyota Motor Corp.(a),(d) |
|
29,200 |
|
1,693,788 |
| |
|
|
|
|
|
|
| |
|
CONSUMER DISCRETIONARY—MEDIA 0.6% |
|
|
|
|
| |
|
CyberAgent(a) |
|
48,200 |
|
1,432,957 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 1.9% |
|
|
|
|
| |
|
DIVERSIFIED FINANCIAL SERVICES 1.3% |
|
|
|
|
| |
|
Mitsubishi UFJ Financial Group(a),(b),(d) |
|
176,200 |
|
892,644 |
| |
|
ORIX Corp.(a),(d) |
|
146,500 |
|
2,161,263 |
| |
|
|
|
|
|
3,053,907 |
| |
|
INSURANCE 0.6% |
|
|
|
|
| |
|
NKSJ Holdings(a),(d) |
|
46,250 |
|
1,370,729 |
| |
|
TOTAL FINANCIAL |
|
|
|
4,424,636 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE—PHARMACEUTICALS 0.5% |
|
|
|
|
| |
|
Astellas Pharma(a),(d) |
|
74,100 |
|
1,157,372 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 2.3% |
|
|
|
|
| |
|
COMMERCIAL SERVICES & SUPPLIES 0.7% |
|
|
|
|
| |
|
Secom Co., Ltd.(a),(d) |
|
21,000 |
|
1,568,159 |
| |
|
|
|
|
|
|
| |
|
ELECTRICAL EQUIPMENT 1.6% |
|
|
|
|
| |
|
Fanuc Ltd.(a),(d) |
|
6,500 |
|
1,097,950 |
| |
|
Murata Manufacturing Co., Ltd.(a) |
|
10,400 |
|
1,357,544 |
| |
|
|
|
Number |
|
Value |
| |
|
Nidec Corp.(a),(d) |
|
13,900 |
|
$ |
1,284,821 |
|
|
|
|
|
|
3,740,315 |
| |
|
TOTAL INDUSTRIALS |
|
|
|
5,308,474 |
| |
|
|
|
|
|
|
| |
|
RAILWAYS 0.2% |
|
|
|
|
| |
|
West Japan Railway Co.(a) |
|
5,300 |
|
328,781 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 1.8% |
|
|
|
|
| |
|
DIVERSIFIED 1.4% |
|
|
|
|
| |
|
Activia Properties(a) |
|
28 |
|
148,894 |
| |
|
Invincible Investment Corp.(a) |
|
28 |
|
15,668 |
| |
|
Mitsubishi Estate Co., Ltd.(a),(d) |
|
26,000 |
|
487,931 |
| |
|
Mitsui Fudosan Co., Ltd.(a),(b),(d) |
|
34,000 |
|
723,330 |
| |
|
Nomura Real Estate Master Fund(a) |
|
109 |
|
181,797 |
| |
|
Orix JREIT(a) |
|
118 |
|
207,212 |
| |
|
Sekisui House Ltd.(a),(d) |
|
60,600 |
|
1,032,422 |
| |
|
Tokyo Tatemono Co., Ltd.(a),(b) |
|
39,400 |
|
473,949 |
| |
|
|
|
|
|
3,271,203 |
| |
|
OFFICE 0.3% |
|
|
|
|
| |
|
Hulic REIT(a) |
|
150 |
|
267,867 |
| |
|
Nippon Building Fund(a) |
|
54 |
|
342,136 |
| |
|
|
|
|
|
610,003 |
| |
|
RETAIL 0.1% |
|
|
|
|
| |
|
Japan Retail Fund Investment Corp.(a) |
|
113 |
|
278,700 |
| |
|
TOTAL REAL ESTATE |
|
|
|
4,159,906 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY—ELECTRONIC EQUIPMENT & INSTRUMENTS 1.2% |
|
|
|
|
| |
|
Kyocera Corp.(a),(b),(d) |
|
17,000 |
|
816,906 |
| |
|
Sony Corp.(a),(d) |
|
56,300 |
|
1,865,252 |
| |
|
|
|
|
|
2,682,158 |
| |
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
| |
|
KDDI Corp.(a),(d) |
|
52,400 |
|
1,623,457 |
| |
|
TOTAL JAPAN |
|
|
|
22,811,529 |
| |
|
|
|
|
|
|
| |
|
JERSEY 1.0% |
|
|
|
|
| |
|
CONSUMER DISCRETIONARY—MEDIA |
|
|
|
|
| |
|
WPP PLC (GBP)(a),(d) |
|
96,500 |
|
2,268,292 |
| |
|
|
|
Number |
|
Value |
| |
|
LUXEMBOURG 0.5% |
|
|
|
|
| |
|
MATERIALS—CHEMICALS |
|
|
|
|
| |
|
Trinseo SA (USD) |
|
20,195 |
|
$ |
1,142,229 |
|
|
|
|
|
|
|
| |
|
MEXICO 0.2% |
|
|
|
|
| |
|
TOLL ROADS |
|
|
|
|
| |
|
OHL Mexico SAB de CV(c) |
|
270,047 |
|
358,350 |
| |
|
Promotora y Operadora de Infraestructura SAB de CV |
|
19,540 |
|
210,357 |
| |
|
TOTAL MEXICO |
|
|
|
568,707 |
| |
|
|
|
|
|
|
| |
|
NETHERLANDS 0.6% |
|
|
|
|
| |
|
FINANCIAL—BANKS 0.5% |
|
|
|
|
| |
|
ABN AMRO Group NV, 144A(a),(e) |
|
59,877 |
|
1,238,025 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.1% |
|
|
|
|
| |
|
Nieuwe Steen Investments NV(a) |
|
21,664 |
|
89,517 |
| |
|
TOTAL NETHERLANDS |
|
|
|
1,327,542 |
| |
|
|
|
|
|
|
| |
|
NEW ZEALAND 0.2% |
|
|
|
|
| |
|
AIRPORTS |
|
|
|
|
| |
|
Auckland International Airport Ltd.(a),(b) |
|
98,510 |
|
527,996 |
| |
|
|
|
|
|
|
| |
|
SINGAPORE 1.1% |
|
|
|
|
| |
|
REAL ESTATE—RETAIL 0.1% |
|
|
|
|
| |
|
CapitaLand Mall Trust(a) |
|
117,100 |
|
186,561 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY—SEMICONDUCTORS 1.0% |
|
|
|
|
| |
|
Broadcom Ltd. (USD)(d) |
|
13,305 |
|
2,295,379 |
| |
|
TOTAL SINGAPORE |
|
|
|
2,481,940 |
| |
|
|
|
|
|
|
| |
|
SOUTH KOREA 0.9% |
|
|
|
|
| |
|
TECHNOLOGY—SEMICONDUCTORS |
|
|
|
|
| |
|
SK Hynix(a) |
|
55,055 |
|
2,021,064 |
| |
|
|
|
|
|
|
| |
|
SPAIN 0.5% |
|
|
|
|
| |
|
GAS DISTRIBUTION 0.3% |
|
|
|
|
| |
|
Enagas SA(a),(b) |
|
25,763 |
|
775,009 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.2% |
|
|
|
|
| |
|
Hispania Activos Inmobiliarios SA(a) |
|
11,546 |
|
154,869 |
| |
|
Merlin Properties Socimi SA(a) |
|
16,269 |
|
192,643 |
| |
|
|
|
|
|
347,512 |
| |
|
TOTAL SPAIN |
|
|
|
1,122,521 |
| |
|
|
|
|
|
|
| |
|
SWEDEN 1.6% |
|
|
|
|
| |
|
COMMUNICATIONS—TELECOMMUNICATIONS 0.6% |
|
|
|
|
| |
|
TeliaSonera AB(a) |
|
314,800 |
|
1,410,015 |
| |
|
|
|
Number |
|
Value |
| |
|
INDUSTRIALS—AEROSPACE & DEFENSE 1.0% |
|
|
|
|
| |
|
Saab AB, Class B(a),(d) |
|
61,853 |
|
$ |
2,202,178 |
|
|
TOTAL SWEDEN |
|
|
|
3,612,193 |
| |
|
|
|
|
|
|
| |
|
SWITZERLAND 6.1% |
|
|
|
|
| |
|
AIRPORTS 0.3% |
|
|
|
|
| |
|
Flughafen Zuerich AG(a),(b) |
|
2,999 |
|
586,286 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL—FOOD 1.9% |
|
|
|
|
| |
|
Nestle SA(a),(d) |
|
56,357 |
|
4,450,178 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL—INSURANCE 1.8% |
|
|
|
|
| |
|
Chubb Ltd. (USD)(d) |
|
24,137 |
|
3,032,814 |
| |
|
Zurich Insurance Group AG(a) |
|
4,500 |
|
1,160,523 |
| |
|
|
|
|
|
4,193,337 |
| |
|
HEALTH CARE—PHARMACEUTICALS 1.4% |
|
|
|
|
| |
|
Novartis AG(a),(d) |
|
42,300 |
|
3,338,328 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS—ELECTRICAL COMPONENT & EQUIPMENT 0.7% |
|
|
|
|
| |
|
TE Connectivity Ltd. (USD)(b) |
|
25,164 |
|
1,620,058 |
| |
|
TOTAL SWITZERLAND |
|
|
|
14,188,187 |
| |
|
|
|
|
|
|
| |
|
UNITED KINGDOM 7.5% |
|
|
|
|
| |
|
CONSUMER STAPLES—BEVERAGE 1.0% |
|
|
|
|
| |
|
Diageo PLC(a),(d) |
|
76,700 |
|
2,196,961 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—CYCLICAL—SPECIALTY RETAIL 0.4% |
|
|
|
|
| |
|
Kingfisher PLC(a) |
|
212,592 |
|
1,037,249 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL—AGRICULTURE 0.9% |
|
|
|
|
| |
|
British American Tobacco PLC(a),(d) |
|
31,433 |
|
2,004,671 |
| |
|
|
|
|
|
|
| |
|
ELECTRIC—REGULATED ELECTRIC 0.5% |
|
|
|
|
| |
|
National Grid PLC(a) |
|
77,923 |
|
1,100,492 |
| |
|
|
|
|
|
|
| |
|
ENERGY—OIL & GAS 1.1% |
|
|
|
|
| |
|
BP PLC(a),(d) |
|
446,016 |
|
2,599,709 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 1.6% |
|
|
|
|
| |
|
BANKS 1.1% |
|
|
|
|
| |
|
Barclays PLC(a) |
|
596,700 |
|
1,293,657 |
| |
|
Lloyds Banking Group PLC(a),(b) |
|
1,875,000 |
|
1,324,714 |
| |
|
|
|
|
|
2,618,371 |
| |
|
INSURANCE 0.5% |
|
|
|
|
| |
|
Beazley PLC(a) |
|
208,471 |
|
1,044,224 |
| |
|
|
|
Number |
|
Value |
| |
|
TOTAL FINANCIAL |
|
|
|
$ |
3,662,595 |
|
|
|
|
|
|
|
| |
|
HEALTH CARE—PHARMACEUTICALS 0.9% |
|
|
|
|
| |
|
GlaxoSmithKline PLC(a),(d) |
|
102,586 |
|
2,184,931 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 0.8% |
|
|
|
|
| |
|
DIVERSIFIED 0.3% |
|
|
|
|
| |
|
Hammerson PLC(a) |
|
46,802 |
|
356,199 |
| |
|
LondonMetric Property PLC(a) |
|
134,287 |
|
278,140 |
| |
|
|
|
|
|
634,339 |
| |
|
HEALTH CARE 0.1% |
|
|
|
|
| |
|
Assura PLC |
|
201,239 |
|
152,067 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 0.2% |
|
|
|
|
| |
|
Segro PLC(a) |
|
89,798 |
|
527,570 |
| |
|
|
|
|
|
|
| |
|
RESIDENTIAL 0.1% |
|
|
|
|
| |
|
UNITE Group PLC/The(a) |
|
18,097 |
|
148,727 |
| |
|
|
|
|
|
|
| |
|
SELF STORAGE 0.1% |
|
|
|
|
| |
|
Big Yellow Group PLC(a) |
|
30,541 |
|
308,093 |
| |
|
TOTAL REAL ESTATE |
|
|
|
1,770,796 |
| |
|
|
|
|
|
|
| |
|
WATER 0.3% |
|
|
|
|
| |
|
United Utilities Group PLC(a),(b) |
|
55,618 |
|
722,408 |
| |
|
TOTAL UNITED KINGDOM |
|
|
|
17,279,812 |
| |
|
|
|
|
|
|
| |
|
UNITED STATES 62.2% |
|
|
|
|
| |
|
COMMUNICATIONS 2.2% |
|
|
|
|
| |
|
TELECOMMUNICATION 1.1% |
|
|
|
|
| |
|
AT&T |
|
35,814 |
|
1,454,407 |
| |
|
Verizon Communications(d) |
|
20,237 |
|
1,051,919 |
| |
|
|
|
|
|
2,506,326 |
| |
|
TOWERS 1.1% |
|
|
|
|
| |
|
American Tower Corp. |
|
10,987 |
|
1,245,157 |
| |
|
Crown Castle International Corp.(b) |
|
12,066 |
|
1,136,738 |
| |
|
SBA Communications Corp., Class A(b),(c) |
|
2,103 |
|
235,872 |
| |
|
|
|
|
|
2,617,767 |
| |
|
TOTAL COMMUNICATIONS |
|
|
|
5,124,093 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—CYCLICAL 6.1% |
|
|
|
|
| |
|
APPAREL 0.7% |
|
|
|
|
| |
|
Hanesbrands(b) |
|
61,969 |
|
1,564,717 |
| |
|
|
|
Number |
|
Value |
| |
|
AUTOMOBILES 0.8% |
|
|
|
|
| |
|
Ford Motor Co. |
|
162,200 |
|
$ |
1,957,754 |
|
|
|
|
|
|
|
| |
|
HOME BUILDERS 0.5% |
|
|
|
|
| |
|
D.R. Horton |
|
34,600 |
|
1,044,920 |
| |
|
|
|
|
|
|
| |
|
MEDIA 1.6% |
|
|
|
|
| |
|
The Walt Disney Co.(d) |
|
21,693 |
|
2,014,412 |
| |
|
Time Warner(d) |
|
20,393 |
|
1,623,487 |
| |
|
|
|
|
|
3,637,899 |
| |
|
RESTAURANT 0.8% |
|
|
|
|
| |
|
Starbucks Corp.(d) |
|
35,545 |
|
1,924,406 |
| |
|
|
|
|
|
|
| |
|
RETAIL 0.8% |
|
|
|
|
| |
|
Ross Stores(b) |
|
28,300 |
|
1,819,690 |
| |
|
|
|
|
|
|
| |
|
SPECIALTY RETAIL 0.9% |
|
|
|
|
| |
|
Home Depot/The(d) |
|
16,200 |
|
2,084,616 |
| |
|
TOTAL CONSUMER—CYCLICAL |
|
|
|
14,034,002 |
| |
|
|
|
|
|
|
| |
|
CONSUMER—NON-CYCLICAL 5.8% |
|
|
|
|
| |
|
AGRICULTURE 1.8% |
|
|
|
|
| |
|
Altria Group(b),(d) |
|
64,830 |
|
4,099,201 |
| |
|
|
|
|
|
|
| |
|
COSMETICS/PERSONAL CARE 1.4% |
|
|
|
|
| |
|
Coty, Class A(c) |
|
139,800 |
|
3,285,300 |
| |
|
|
|
|
|
|
| |
|
FOOD PRODUCTS 1.3% |
|
|
|
|
| |
|
Tyson Foods, Class A(d) |
|
40,300 |
|
3,009,201 |
| |
|
|
|
|
|
|
| |
|
RETAIL 1.3% |
|
|
|
|
| |
|
CVS Caremark Corp.(d) |
|
33,138 |
|
2,948,951 |
| |
|
TOTAL CONSUMER—NON-CYCLICAL |
|
|
|
13,342,653 |
| |
|
|
|
|
|
|
| |
|
DIVERSIFIED 0.2% |
|
|
|
|
| |
|
Macquarie Infrastructure Co. LLC(b) |
|
6,014 |
|
500,605 |
| |
|
|
|
|
|
|
| |
|
ELECTRIC 1.3% |
|
|
|
|
| |
|
INTEGRATED ELECTRIC 0.5% |
|
|
|
|
| |
|
8Point3 Energy Partners LP |
|
6,600 |
|
95,040 |
| |
|
NextEra Energy |
|
4,334 |
|
530,135 |
| |
|
Pattern Energy Group(b) |
|
19,085 |
|
429,221 |
| |
|
|
|
|
|
1,054,396 |
| |
|
REGULATED ELECTRIC 0.8% |
|
|
|
|
| |
|
CMS Energy Corp.(b) |
|
8,610 |
|
361,706 |
| |
|
Edison International(b) |
|
3,311 |
|
239,220 |
| |
|
PG&E Corp.(b) |
|
16,340 |
|
999,518 |
| |
|
|
|
Number |
|
Value |
| |
|
WEC Energy Group(b) |
|
5,650 |
|
$ |
338,322 |
|
|
|
|
|
|
1,938,766 |
| |
|
TOTAL ELECTRIC |
|
|
|
2,993,162 |
| |
|
|
|
|
|
|
| |
|
ENERGY 3.2% |
|
|
|
|
| |
|
OIL & GAS 2.2% |
|
|
|
|
| |
|
Anadarko Petroleum Corp.(b),(d) |
|
55,072 |
|
3,489,362 |
| |
|
Exxon Mobil Corp.(d) |
|
18,547 |
|
1,618,782 |
| |
|
|
|
|
|
5,108,144 |
| |
|
OIL & GAS SERVICES 1.0% |
|
|
|
|
| |
|
Baker Hughes(d) |
|
45,900 |
|
2,316,573 |
| |
|
TOTAL ENERGY |
|
|
|
7,424,717 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 8.7% |
|
|
|
|
| |
|
BANKS 4.0% |
|
|
|
|
| |
|
Fifth Third Bancorp(b) |
|
102,319 |
|
2,093,447 |
| |
|
Huntington Bancshares(d) |
|
177,900 |
|
1,754,094 |
| |
|
PNC Financial Services Group(d) |
|
26,276 |
|
2,367,205 |
| |
|
Wells Fargo & Co.(b),(d) |
|
69,387 |
|
3,072,456 |
| |
|
|
|
|
|
9,287,202 |
| |
|
CREDIT CARD 0.8% |
|
|
|
|
| |
|
Discover Financial Services(d) |
|
32,100 |
|
1,815,255 |
| |
|
|
|
|
|
|
| |
|
DIVERSIFIED FINANCIAL SERVICES 2.5% |
|
|
|
|
| |
|
Ameriprise Financial(d) |
|
18,000 |
|
1,795,860 |
| |
|
BlackRock(d) |
|
4,498 |
|
1,630,345 |
| |
|
JPMorgan Chase & Co.(d) |
|
34,017 |
|
2,265,192 |
| |
|
|
|
|
|
5,691,397 |
| |
|
INSURANCE 1.4% |
|
|
|
|
| |
|
Allstate Corp./The |
|
24,073 |
|
1,665,370 |
| |
|
Assurant |
|
17,700 |
|
1,632,825 |
| |
|
|
|
|
|
3,298,195 |
| |
|
TOTAL FINANCIAL |
|
|
|
20,092,049 |
| |
|
|
|
|
|
|
| |
|
GAS DISTRIBUTION 0.7% |
|
|
|
|
| |
|
Atmos Energy Corp. |
|
8,301 |
|
618,176 |
| |
|
Sempra Energy(b) |
|
8,575 |
|
919,154 |
| |
|
|
|
|
|
1,537,330 |
| |
|
|
|
Number |
|
Value |
| |
|
HEALTH CARE 8.1% |
|
|
|
|
| |
|
BIOTECHNOLOGY 1.0% |
|
|
|
|
| |
|
Amgen(d) |
|
13,570 |
|
$ |
2,263,612 |
|
|
|
|
|
|
|
| |
|
HEALTH CARE EQUIPMENT & SUPPLIES 1.3% |
|
|
|
|
| |
|
Zimmer Holdings(d) |
|
23,530 |
|
3,059,371 |
| |
|
|
|
|
|
|
| |
|
HEALTH CARE PROVIDERS & SERVICES 1.2% |
|
|
|
|
| |
|
Cigna Corp.(d) |
|
20,584 |
|
2,682,507 |
| |
|
|
|
|
|
|
| |
|
HEALTHCARE PRODUCTS 2.6% |
|
|
|
|
| |
|
Johnson & Johnson(d) |
|
28,500 |
|
3,366,705 |
| |
|
Patterson Cos. |
|
23,536 |
|
1,081,244 |
| |
|
Thermo Fisher Scientific(d) |
|
10,175 |
|
1,618,435 |
| |
|
|
|
|
|
6,066,384 |
| |
|
PHARMACEUTICALS 2.0% |
|
|
|
|
| |
|
Bristol-Myers Squibb Co.(b) |
|
32,696 |
|
1,762,968 |
| |
|
Pfizer(d) |
|
88,308 |
|
2,990,992 |
| |
|
|
|
|
|
4,753,960 |
| |
|
TOTAL HEALTH CARE |
|
|
|
18,825,834 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS 6.0% |
|
|
|
|
| |
|
AEROSPACE & DEFENSE 1.4% |
|
|
|
|
| |
|
General Dynamics Corp.(d) |
|
20,258 |
|
3,143,231 |
| |
|
|
|
|
|
3,143,231 |
| |
|
AIR FREIGHT & COURIERS 2.0% |
|
|
|
|
| |
|
FedEx Corp.(d) |
|
25,900 |
|
4,524,212 |
| |
|
|
|
|
|
|
| |
|
COMMERCIAL SERVICES & SUPPLIES 0.6% |
|
|
|
|
| |
|
Equifax |
|
10,242 |
|
1,378,368 |
| |
|
|
|
|
|
1,378,368 |
| |
|
DIVERSIFIED MANUFACTURING 1.0% |
|
|
|
|
| |
|
Honeywell International(d) |
|
20,600 |
|
2,401,754 |
| |
|
|
|
|
|
2,401,754 |
| |
|
ROAD & RAIL 1.0% |
|
|
|
|
| |
|
CSX Corp.(d) |
|
77,509 |
|
2,364,025 |
| |
|
TOTAL INDUSTRIALS |
|
|
|
13,811,590 |
| |
|
|
|
|
|
|
| |
|
MATERIALS 1.9% |
|
|
|
|
| |
|
CHEMICALS 1.5% |
|
|
|
|
| |
|
PPG Industries |
|
20,744 |
|
2,144,100 |
| |
|
|
|
Number |
|
Value |
| |
|
Valvoline(c) |
|
55,200 |
|
$ |
1,296,648 |
|
|
|
|
|
|
3,440,748 |
| |
|
METALS & MINING 0.4% |
|
|
|
|
| |
|
Steel Dynamics |
|
42,400 |
|
1,059,576 |
| |
|
TOTAL MATERIALS |
|
|
|
4,500,324 |
| |
|
|
|
|
|
|
| |
|
PIPELINES 2.3% |
|
|
|
|
| |
|
PIPELINES—C-CORP 1.9% |
|
|
|
|
| |
|
Cheniere Energy(b),(c) |
|
19,920 |
|
868,512 |
| |
|
Kinder Morgan(b) |
|
61,796 |
|
1,429,341 |
| |
|
SemGroup Corp., Class A(b) |
|
13,798 |
|
487,897 |
| |
|
Targa Resources Corp.(b) |
|
12,774 |
|
627,331 |
| |
|
Williams Cos. (The)(b) |
|
31,531 |
|
968,948 |
| |
|
|
|
|
|
4,382,029 |
| |
|
PIPELINES—MLP 0.4% |
|
|
|
|
| |
|
Buckeye Partners LP(b) |
|
6,230 |
|
446,068 |
| |
|
Noble Midstream Partners LP(c) |
|
8,140 |
|
227,106 |
| |
|
Rice Midstream Partners LP |
|
13,203 |
|
320,305 |
| |
|
|
|
|
|
993,479 |
| |
|
TOTAL PIPELINES |
|
|
|
5,375,508 |
| |
|
|
|
|
|
|
| |
|
RAILWAYS 0.1% |
|
|
|
|
| |
|
Union Pacific Corp. |
|
2,924 |
|
285,178 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 5.2% |
|
|
|
|
| |
|
HEALTH CARE 0.4% |
|
|
|
|
| |
|
HCP(b) |
|
23,097 |
|
876,531 |
| |
|
Omega Healthcare Investors(b) |
|
3,427 |
|
121,487 |
| |
|
|
|
|
|
998,018 |
| |
|
HOTEL 0.3% |
|
|
|
|
| |
|
Hilton Worldwide Holdings(b) |
|
12,058 |
|
276,490 |
| |
|
Pebblebrook Hotel Trust(b) |
|
9,343 |
|
248,524 |
| |
|
Sunstone Hotel Investors |
|
11,721 |
|
149,911 |
| |
|
|
|
|
|
674,925 |
| |
|
INDUSTRIALS 0.3% |
|
|
|
|
| |
|
Prologis |
|
11,905 |
|
637,394 |
| |
|
|
|
|
|
|
| |
|
NET LEASE 0.4% |
|
|
|
|
| |
|
Gaming and Leisure Properties(b) |
|
11,034 |
|
369,088 |
| |
|
|
|
Number |
|
Value |
| |
|
Spirit Realty Capital(b) |
|
46,237 |
|
$ |
616,339 |
|
|
|
|
|
|
985,427 |
| |
|
OFFICE 0.8% |
|
|
|
|
| |
|
Alexandria Real Estate Equities(b) |
|
3,929 |
|
427,357 |
| |
|
Cousins Properties(b) |
|
19,458 |
|
203,142 |
| |
|
Douglas Emmett(b) |
|
7,473 |
|
273,736 |
| |
|
Empire State Realty Trust, Class A(b) |
|
14,555 |
|
304,927 |
| |
|
Hudson Pacific Properties(b) |
|
8,373 |
|
275,220 |
| |
|
Kilroy Realty Corp. |
|
6,616 |
|
458,820 |
| |
|
|
|
|
|
1,943,202 |
| |
|
RESIDENTIAL 1.6% |
|
|
|
|
| |
|
APARTMENT 1.2% |
|
|
|
|
| |
|
American Homes 4 Rent, Class A |
|
15,564 |
|
336,805 |
| |
|
Apartment Investment & Management Co.(b) |
|
6,695 |
|
307,368 |
| |
|
AvalonBay Communities |
|
2,362 |
|
420,058 |
| |
|
Education Realty Trust(b) |
|
11,424 |
|
492,831 |
| |
|
Equity Residential(b) |
|
2,356 |
|
151,562 |
| |
|
Essex Property Trust |
|
2,569 |
|
572,116 |
| |
|
UDR |
|
17,582 |
|
632,776 |
| |
|
|
|
|
|
2,913,516 |
| |
|
MANUFACTURED HOME 0.4% |
|
|
|
|
| |
|
Equity Lifestyle Properties(b) |
|
3,951 |
|
304,938 |
| |
|
Sun Communities(b) |
|
6,973 |
|
547,241 |
| |
|
|
|
|
|
852,179 |
| |
|
TOTAL RESIDENTIAL |
|
|
|
3,765,695 |
| |
|
|
|
|
|
|
| |
|
SHOPPING CENTERS 1.0% |
|
|
|
|
| |
|
COMMUNITY CENTER 0.4% |
|
|
|
|
| |
|
Brixmor Property Group |
|
18,657 |
|
518,478 |
| |
|
Ramco-Gershenson Properties Trust(b) |
|
6,685 |
|
125,277 |
| |
|
Tanger Factory Outlet Centers(b) |
|
6,232 |
|
242,799 |
| |
|
|
|
|
|
886,554 |
| |
|
REGIONAL MALL 0.6% |
|
|
|
|
| |
|
Simon Property Group(b) |
|
6,834 |
|
1,414,706 |
| |
|
TOTAL SHOPPING CENTERS |
|
|
|
2,301,260 |
| |
|
|
|
|
|
|
| |
|
SPECIALTY 0.4% |
|
|
|
|
| |
|
Digital Realty Trust(b) |
|
4,201 |
|
408,001 |
| |
|
|
|
Number |
|
Value |
| |
|
DuPont Fabros Technology(b) |
|
6,279 |
|
$ |
259,009 |
|
|
QTS Realty Trust, Class A(b) |
|
2,800 |
|
147,980 |
| |
|
|
|
|
|
814,990 |
| |
|
TOTAL REAL ESTATE |
|
|
|
12,120,911 |
| |
|
|
|
|
|
|
| |
|
TECHNOLOGY 10.1% |
|
|
|
|
| |
|
COMPUTERS 4.3% |
|
|
|
|
| |
|
Apple(d) |
|
49,571 |
|
5,604,002 |
| |
|
Cadence Design Systems(c),(d) |
|
71,500 |
|
1,825,395 |
| |
|
Western Digital Corp.(d) |
|
43,867 |
|
2,564,903 |
| |
|
|
|
|
|
9,994,300 |
| |
|
INTERNET SERVICE PROVIDER 2.8% |
|
|
|
|
| |
|
Alphabet, Class A(c),(d) |
|
7,939 |
|
6,383,433 |
| |
|
|
|
|
|
|
| |
|
SOFTWARE 0.8% |
|
|
|
|
| |
|
Microsoft Corp. |
|
30,432 |
|
1,752,883 |
| |
|
|
|
|
|
|
| |
|
TELECOMMUNICATION EQUIPMENT 2.2% |
|
|
|
|
| |
|
Cisco Systems(d) |
|
74,600 |
|
2,366,312 |
| |
|
QUALCOMM(d) |
|
40,198 |
|
2,753,563 |
| |
|
|
|
|
|
5,119,875 |
| |
|
TOTAL TECHNOLOGY |
|
|
|
23,250,491 |
| |
|
|
|
|
|
|
| |
|
WATER 0.3% |
|
|
|
|
| |
|
American Water Works Co.(b) |
|
8,547 |
|
639,657 |
| |
|
TOTAL UNITED STATES |
|
|
|
143,858,104 |
| |
|
TOTAL COMMON STOCK |
|
|
|
263,959,278 |
| |
|
|
|
|
|
|
| |
|
CLOSED-END FUNDS—UNITED STATES 2.7% |
|
|
|
|
| |
|
COVERED CALL 0.5% |
|
|
|
|
| |
|
Eaton Vance Tax-Managed Buy-Write Opportunities Fund(b) |
|
22,219 |
|
335,285 |
| |
|
Eaton Vance Tax-Managed Diversified Equity Income Fund(b) |
|
30,801 |
|
329,879 |
| |
|
Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund(b) |
|
11,038 |
|
121,528 |
| |
|
Eaton Vance Tax-Managed Global Diversified Equity Income Fund(b) |
|
35,001 |
|
303,808 |
| |
|
|
|
|
|
1,090,500 |
| |
|
EQUITY TAX—ADVANTAGED 0.6% |
|
|
|
|
| |
|
Eaton Vance Tax-Advantaged Dividend Income Fund(b) |
|
22,395 |
|
451,259 |
| |
|
|
|
Number |
|
Value |
| |
|
Eaton Vance Tax-Advantaged Global Dividend Income Fund(b) |
|
7,974 |
|
$ |
118,813 |
|
|
Gabelli Dividend & Income Trust(b) |
|
18,429 |
|
354,021 |
| |
|
John Hancock Tax-Advantaged Dividend Income Fund(b) |
|
13,452 |
|
328,767 |
| |
|
|
|
|
|
1,252,860 |
| |
|
GLOBAL HYBRID (GROWTH & INCOME) 0.0% |
|
|
|
|
| |
|
Clough Global Opportunities Fund(b) |
|
8,639 |
|
83,539 |
| |
|
|
|
|
|
|
| |
|
INVESTMENT GRADE 0.0% |
|
|
|
|
| |
|
PIMCO Corporate and Income Opportunity Fund(b) |
|
6,649 |
|
97,142 |
| |
|
|
|
|
|
|
| |
|
MASTER LIMITED PARTNERSHIPS 0.2% |
|
|
|
|
| |
|
First Trust Energy Income and Growth Fund(b) |
|
11,744 |
|
318,145 |
| |
|
Kayne Anderson MLP Investment Company(b) |
|
6,585 |
|
135,849 |
| |
|
|
|
|
|
453,994 |
| |
|
MULTI-SECTOR 0.5% |
|
|
|
|
| |
|
AllianzGI Convertible & Income Fund(b) |
|
26,962 |
|
181,993 |
| |
|
PIMCO Dynamic Credit Income Fund |
|
13,520 |
|
275,673 |
| |
|
PIMCO Dynamic Income Fund(b) |
|
5,383 |
|
153,308 |
| |
|
PIMCO Income Opportunity Fund(b) |
|
8,618 |
|
199,593 |
| |
|
PIMCO Income Strategy Fund II(b) |
|
24,501 |
|
233,495 |
| |
|
|
|
|
|
1,044,062 |
| |
|
MUNICIPAL 0.2% |
|
|
|
|
| |
|
BlackRock MuniHoldings Investment Quality Fund(b) |
|
10,524 |
|
168,173 |
| |
|
Eaton Vance Municipal Bond Fund(b) |
|
11,739 |
|
159,885 |
| |
|
PIMCO Municipal Income Fund II(b) |
|
9,689 |
|
132,352 |
| |
|
|
|
|
|
460,410 |
| |
|
PREFERRED 0.1% |
|
|
|
|
| |
|
Nuveen Preferred Income Opportunities Fund(b) |
|
29,696 |
|
297,554 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE 0.1% |
|
|
|
|
| |
|
CBRE Clarion Global Real Estate Income Fund(b) |
|
16,968 |
|
142,531 |
| |
|
Nuveen Real Estate Income Fund(b) |
|
14,369 |
|
170,704 |
| |
|
|
|
|
|
313,235 |
| |
|
SENIOR LOAN 0.1% |
|
|
|
|
| |
|
Nuveen Credit Strategies Income Fund(b) |
|
30,932 |
|
262,303 |
| |
|
|
|
|
|
|
| |
|
U.S. GENERAL EQUITY 0.4% |
|
|
|
|
| |
|
Consumer Discretionary Select Sector SPDR Fund(b) |
|
2,384 |
|
190,815 |
| |
|
Gabelli Equity Trust(b) |
|
32,372 |
|
182,578 |
| |
|
SPDR S&P 500 ETF Trust(b) |
|
1,518 |
|
328,343 |
| |
|
|
|
Number |
|
Value |
| |
|
Vanguard S&P 500 ETF Trust(b) |
|
889 |
|
$ |
176,636 |
|
|
|
|
|
|
878,372 |
| |
|
TOTAL CLOSED-END FUNDS |
|
|
|
6,233,971 |
| |
|
|
|
|
|
|
| |
|
PREFERRED SECURITIES—$25 PAR VALUE—UNITED STATES 5.5% |
|
|
|
|
| |
|
BANKS 2.5% |
|
|
|
|
| |
|
Bank of America Corp., 6.20%, Series CC |
|
39,764 |
|
1,048,179 |
| |
|
Bank of America Corp., 6.00%, Series EE(b) |
|
29,981 |
|
787,301 |
| |
|
Bank of America Corp., 6.50%, Series Y |
|
40,000 |
|
1,079,600 |
| |
|
Citigroup, 6.875%, Series K |
|
40,000 |
|
1,152,400 |
| |
|
Huntington Bancshares, 6.25%, Series D(b) |
|
25,600 |
|
705,024 |
| |
|
Wells Fargo & Co., 5.85% |
|
40,000 |
|
1,070,000 |
| |
|
|
|
|
|
5,842,504 |
| |
|
ELECTRIC 0.7% |
|
|
|
|
| |
|
INTEGRATED ELECTRIC 0.4% |
|
|
|
|
| |
|
Integrys Holdings, 6.00%, due 8/1/73(b) |
|
35,750 |
|
979,997 |
| |
|
|
|
|
|
|
| |
|
REGULATED ELECTRIC 0.3% |
|
|
|
|
| |
|
DTE Energy Co., 5.375%, due 6/1/76, Series B(b) |
|
22,375 |
|
576,828 |
| |
|
Southern Co./The, 6.25%, due 10/15/75(b) |
|
1,087 |
|
30,251 |
| |
|
|
|
|
|
607,079 |
| |
|
TOTAL ELECTRIC |
|
|
|
1,587,076 |
| |
|
|
|
|
|
|
| |
|
FINANCIAL 0.2% |
|
|
|
|
| |
|
Charles Schwab Corp./The, 5.95%, Series D(b) |
|
21,000 |
|
571,620 |
| |
|
|
|
|
|
|
| |
|
INDUSTRIALS—CHEMICALS 0.5% |
|
|
|
|
| |
|
CHS, 7.10%, Series II |
|
35,984 |
|
1,078,081 |
| |
|
|
|
|
|
|
| |
|
INSURANCE—MULTI-LINE 0.0% |
|
|
|
|
| |
|
PartnerRe Ltd., 7.25%, Series H |
|
1,134 |
|
34,065 |
| |
|
|
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.9% |
|
|
|
|
| |
|
Colony Financial, 8.50%, Series A(b) |
|
29,928 |
|
767,653 |
| |
|
VEREIT, 6.70%, Series F |
|
45,000 |
|
1,198,800 |
| |
|
|
|
|
|
1,966,453 |
| |
|
TECHNOLOGY—SOFTWARE 0.5% |
|
|
|
|
| |
|
eBay, 6.00%, due 2/1/56 |
|
40,000 |
|
1,085,600 |
| |
|
|
|
|
|
|
| |
|
UTILITIES 0.2% |
|
|
|
|
| |
|
SCE Trust V, 5.45%, Series K(b) |
|
19,163 |
|
568,950 |
| |
|
|
|
Number |
|
Value |
| |
|
TOTAL PREFERRED SECURITIES—$25 PAR VALUE |
|
|
|
$ |
12,734,349 |
|
|
|
|
|
|
|
| |
|
PREFERRED SECURITIES—CAPITAL SECURITIES 5.2% |
|
|
|
|
| |
|
AUSTRALIA 1.3% |
|
|
|
|
| |
|
BANKS—FOREIGN 0.5% |
|
|
|
|
| |
|
Australia & New Zealand Banking Group Ltd./United Kingdom, 6.75%, 144A (USD)(e) |
|
1,000,000 |
|
1,100,916 |
| |
|
|
|
|
|
|
| |
|
INSURANCE-FOREIGN 0.8% |
|
|
|
|
| |
|
QBE Insurance Group Ltd., 6.75%, due 12/2/44 (USD) |
|
1,755,000 |
|
1,948,050 |
| |
|
TOTAL AUSTRALIA |
|
|
|
3,048,966 |
| |
|
|
|
|
|
|
| |
|
FRANCE 0.5% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Credit Agricole SA, 8.125%, 144A (USD)(e) |
|
1,000,000 |
|
1,063,474 |
| |
|
|
|
|
|
|
| |
|
JAPAN 0.4% |
|
|
|
|
| |
|
INSURANCE—LIFE/HEALTH INSURANCE—FOREIGN |
|
|
|
|
| |
|
Dai-ichi Life Insurance Co. Ltd., 4.00%, 144A (USD)(e) |
|
400,000 |
|
403,000 |
| |
|
Meiji Yasuda Life Insurance Co., 5.20%, due 10/20/45, 144A (USD)(e) |
|
200,000 |
|
225,250 |
| |
|
Nippon Life Insurance Co., 4.70%, due 1/20/46, 144A (USD)(e) |
|
300,000 |
|
325,495 |
| |
|
TOTAL JAPAN |
|
|
|
953,745 |
| |
|
|
|
|
|
|
| |
|
SWITZERLAND 0.8% |
|
|
|
|
| |
|
BANKS—FOREIGN 0.4% |
|
|
|
|
| |
|
UBS Group AG, 7.125% (USD) |
|
800,000 |
|
823,616 |
| |
|
|
|
|
|
|
| |
|
INSURANCE—REINSURANCE—FOREIGN 0.4% |
|
|
|
|
| |
|
Aquarius + Investments PLC, 8.25% (USD) |
|
910,000 |
|
978,477 |
| |
|
TOTAL SWITZERLAND |
|
|
|
1,802,093 |
| |
|
|
|
|
|
|
| |
|
UNITED KINGDOM 0.3% |
|
|
|
|
| |
|
BANKS—FOREIGN |
|
|
|
|
| |
|
Royal Bank of Scotland Group PLC, 8.625% (USD) |
|
400,000 |
|
392,500 |
| |
|
Standard Chartered PLC, 7.50%, 144A (USD)(e) |
|
200,000 |
|
200,000 |
| |
|
|
|
|
|
592,500 |
| |
|
UNITED STATES 1.9% |
|
|
|
|
| |
|
BANKS 1.4% |
|
|
|
|
| |
|
Bank of America Corp., 6.50%, Series Z |
|
2,037,000 |
|
2,208,872 |
| |
|
|
|
Number |
|
Value |
| ||||
|
Citigroup, 6.25%, Series T |
|
1,070,000 |
|
$ |
1,152,925 |
| |||
|
|
|
|
|
3,361,797 |
| ||||
|
INSURANCE—LIFE/HEALTH INSURANCE 0.5% |
|
|
|
|
| ||||
|
Prudential Financial, 5.625%, due 6/15/43 |
|
1,000,000 |
|
1,080,050 |
| ||||
|
TOTAL UNITED STATES |
|
|
|
4,441,847 |
| ||||
|
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES |
|
|
|
11,902,625 |
| ||||
|
|
|
|
|
|
| ||||
|
SHORT-TERM INVESTMENTS 1.0% |
|
|
|
|
| ||||
|
MONEY MARKET FUNDS |
|
|
|
|
| ||||
|
State Street Institutional Treasury Money Market Fund, Premier Class, 0.19%(f) |
|
2,400,000 |
|
2,400,000 |
| ||||
|
TOTAL SHORT-TERM INVESTMENTS |
|
|
|
2,400,000 |
| ||||
|
|
|
|
|
|
|
|
|
| |
|
TOTAL INVESTMENTS |
|
128.6 |
% |
|
|
|
$ |
297,230,223 |
|
|
WRITTEN OPTION CONTRACTS |
|
(1.4 |
) |
|
|
|
(3,276,000 |
) | |
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
|
(27.2 |
) |
|
|
|
(62,855,396 |
) | |
|
NET ASSETS (Equivalent to $9.99 per share based on 23,142,068 shares of common stock outstanding) |
|
100.0 |
% |
|
|
|
$ |
231,098,827 |
|
|
|
|
|
|
|
| ||||
|
|
|
Number of |
|
|
| ||||
|
WRITTEN OPTION CONTRACTS—UNITED STATES (1.4)% |
|
|
|
|
| ||||
|
S&P 500 Index, Call, USD Strike Price 2,140, expires 10/21/16 |
|
780 |
|
$ |
(3,276,000 |
) | |||
|
TOTAL WRITTEN OPTION CONTRACTS |
|
|
|
$ |
(3,276,000 |
) | |||
Glossary of Portfolio Abbreviations
ETF Exchange-Traded Fund
GBP Great British Pound
HKD Hong Kong Dollar
MLP Master Limited Partnership
REIT Real Estate Investment Trust
SPDR Standard & Poor’s Depositary Receipt
USD United States Dollar
Note: Percentages indicated are based on the net assets of the Fund.
(a) Fair valued security. This security has been valued at its fair value as determined in good faith under procedures established by and under the general supervision of the Fund’s Board of Directors. Aggregate fair valued securities represent 41.5% of the net assets of the Fund, all of which have been fair valued pursuant to foreign equity fair value pricing procedures approved by the Board of Directors.
(b) All or a portion of the security is pledged as collateral in connection with written option contracts. $42,588,699 in aggregate has been pledged as collateral.
(c) Non-income producing security.
(d) All or a portion of the security is pledged as collateral in connection with the Fund’s revolving credit agreement. $140,363,720 in aggregate has been pledged as collateral.
(e) Resale is restricted to qualified institutional investors. Aggregate holdings equal 2.1% of the net assets of the Fund, of which 0.0% are illiquid.
(f) Rate quoted represents the annualized seven-day yield of the Fund.
|
Sector Summary |
|
% of |
|
|
Financial (Common) |
|
13.3 |
|
|
Technology (Common) |
|
11.0 |
|
|
Health Care (Common) |
|
10.7 |
|
|
Industrials (Common) |
|
9.4 |
|
|
Real Estate (Common) |
|
8.6 |
|
|
Consumer—Non-Cyclical (Common) |
|
6.6 |
|
|
Consumer—Cyclical (Common) |
|
5.6 |
|
|
Energy (Common) |
|
4.9 |
|
|
Other |
|
3.2 |
|
|
Banks (Preferred) |
|
3.1 |
|
|
Materials (Common) |
|
2.8 |
|
|
Pipelines (Common) |
|
2.7 |
|
|
Communications (Common) |
|
2.4 |
|
|
Closed-End Funds |
|
2.1 |
|
|
Consumer Staples (Common) |
|
1.8 |
|
|
Electric (Common) |
|
1.7 |
|
|
Consumer Discretionary (Common) |
|
1.2 |
|
|
Banks—Foreign (Preferred) |
|
1.2 |
|
|
Gas Distribution (Common) |
|
1.0 |
|
|
Insurance (Preferred) |
|
1.0 |
|
|
Telecommunication Services (Common) |
|
0.9 |
|
|
Real Estate (Preferred) |
|
0.6 |
|
|
Insurance-Foreign (Preferred) |
|
0.6 |
|
|
Automotive (Common) |
|
0.6 |
|
|
Toll Roads (Common) |
|
0.5 |
|
|
Electric (Preferred) |
|
0.5 |
|
|
Water (Common) |
|
0.4 |
|
|
Airports (Common) |
|
0.4 |
|
|
Information Technology (Common) |
|
0.4 |
|
|
Technology (Preferred) |
|
0.4 |
|
|
Industrials (Preferred) |
|
0.4 |
|
|
|
|
100.0 |
|
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited)
Note 1. Portfolio Valuation
Investments in securities that are listed on the New York Stock Exchange (NYSE) are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. Exchange traded options are valued at their last sale price as of the close of options trading on applicable exchanges on the valuation date. In the absence of a last sale price on such day, options are valued at the average of the quoted bid and ask prices as of the close of business. Over-the-counter options are valued based upon prices provided by the respective counterparty.
Securities not listed on the NYSE but listed on other domestic or foreign securities exchanges are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain non-U.S. equity holdings may be fair valued pursuant to procedures established by the Board of Directors.
Readily marketable securities traded in the over-the-counter market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment manager) to be over-the-counter, are valued at the last sale price on the valuation date as reported by sources deemed appropriate by the Board of Directors to reflect their fair market value. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price. However, certain fixed-income securities may be valued on the basis of prices provided by a third-party pricing service or third-party broker-dealer when such prices are believed by the investment manager, pursuant to delegation by the Board of Directors, to reflect the fair market value of such securities. The pricing services or broker-dealers use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services or broker-dealers may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services or broker-dealers also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features which are used to calculate the fair values.
Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates fair value. Investments in open-end mutual funds are valued at their closing net asset value.
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
The policies and procedures approved by the Fund’s Board of Directors delegate authority to make fair value determinations to the investment manager, subject to the oversight of the Board of Directors. The investment manager has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.
Foreign equity fair value pricing procedures utilized by the Fund may cause certain non-U.S. equity holdings to be fair valued on the basis of fair value factors provided by a pricing service to reflect any significant market movements between the time the Fund values such securities and the earlier closing of foreign markets.
The Fund’s use of fair value pricing may cause the net asset value of Fund shares to differ from the net asset value that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.
Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized 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, credit risk, etc.)
· Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodology used for valuing securities may or may not be an indication of the risk associated with investing in those securities.
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
For movements between the levels within the fair value hierarchy, the Fund has adopted a policy of recognizing the transfer at the end of the period in which the underlying event causing the movement occurred. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. There were no transfers between Level 1 and Level 2 securities as of September 30, 2016.
The following is a summary of the inputs used as of September 30, 2016 in valuing the Fund’s investments carried at value:
|
|
|
|
|
Quoted Prices |
|
Other |
|
Significant |
| ||||
|
|
|
Total |
|
(Level 1) |
|
(Level 2) |
|
(Level 3) |
| ||||
|
Common Stock: |
|
|
|
|
|
|
|
|
| ||||
|
Canada |
|
$ |
9,903,437 |
|
9,903,437 |
|
— |
|
$ |
— |
| ||
|
Ireland |
|
5,537,611 |
|
5,537,611 |
|
— |
|
— |
| ||||
|
Luxembourg |
|
1,142,229 |
|
1,142,229 |
|
— |
|
— |
| ||||
|
Mexico |
|
568,707 |
|
568,707 |
|
— |
|
— |
| ||||
|
Singapore |
|
2,481,940 |
|
2,295,379 |
|
186,561 |
|
— |
| ||||
|
Switzerland |
|
14,188,187 |
|
4,652,872 |
|
9,535,315 |
|
— |
| ||||
|
United Kingdom |
|
17,279,812 |
|
152,067 |
|
17,127,745 |
|
— |
| ||||
|
United States |
|
143,858,104 |
|
143,858,104 |
|
— |
|
— |
| ||||
|
Other Countries |
|
68,999,251 |
|
— |
|
68,999,251 |
|
— |
| ||||
|
Closed-End Funds |
|
6,233,971 |
|
6,233,971 |
|
— |
|
— |
| ||||
|
Preferred Securities - $25 Par Value |
|
12,734,349 |
|
11,754,352 |
|
979,997 |
|
— |
| ||||
|
Preferred Securities - Capital Securities |
|
11,902,625 |
|
— |
|
11,902,625 |
|
— |
| ||||
|
Short-Term Investments |
|
2,400,000 |
|
— |
|
2,400,000 |
|
— |
| ||||
|
Total Investments(a) |
|
$ |
297,230,223 |
|
$ |
186,098,729 |
|
$ |
111,131,494 |
|
$ |
— |
|
|
Written Option Contracts |
|
$ |
(3,276,000 |
) |
$ |
(3,276,000 |
) |
$ |
— |
|
$ |
— |
|
|
Total Depreciation in Other Financial Instruments(a) |
|
$ |
(3,276,000 |
) |
$ |
(3,276,000 |
) |
$ |
— |
|
$ |
— |
|
(a) Portfolio holdings are disclosed individually on the Schedule of Investments.
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
Note 2. Derivative Instruments
Options: The Fund may purchase and write exchange-listed and over-the-counter put or call options on securities, stock indices and other financial instruments to enhance portfolio returns and reduce overall volatility.
When the Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premium received. Premiums received from writing options which are exercised or closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund. If a call option is exercised, the premium is added to the proceeds of the security sold to determine the realized gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying index or security. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contracts.
Put and call options purchased are accounted for in the same manner as portfolio securities. Premiums paid for purchasing options which expire are treated as realized losses. Premiums paid for purchasing options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss when the underlying transaction is executed. The risk associated with purchasing an option is that the Fund pays a premium whether or not the option is exercised. Additionally, the Fund bears the risk of loss of the premium and change in market value should the counterparty not perform under the contract.
Transactions in written options for the nine months ended September 30, 2016, were as follows:
|
|
|
Number |
|
|
| |
|
|
|
of Contracts |
|
Premium |
| |
|
Written option contracts outstanding at December 31, 2015 |
|
825 |
|
$ |
2,727,771 |
|
|
Option contracts written |
|
9,143 |
|
25,516,047 |
| |
|
Option contracts expired |
|
(2,496 |
) |
(6,108,890 |
) | |
|
Option contracts terminated in closing transactions |
|
(2,550 |
) |
(6,761,552 |
) | |
|
Option contracts exercised |
|
(4,142 |
) |
(12,817,730 |
) | |
|
Written option contracts outstanding at September 30, 2016 |
|
780 |
|
$ |
2,555,646 |
|
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
NOTES TO SCHEDULE OF INVESTMENTS (Unaudited) (Continued)
Note 3. Income Tax Information
As of September 30, 2016, the federal tax cost and net unrealized appreciation and depreciation in value of securities held were as follows:
|
Cost for federal income tax purposes |
|
$ |
257,968,634 |
|
|
Gross unrealized appreciation |
|
$ |
46,505,540 |
|
|
Gross unrealized depreciation |
|
(7,243,951 |
) | |
|
Net unrealized appreciation |
|
$ |
39,261,589 |
|
Item 2. Controls and Procedures
(a) The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) are effective based on their evaluation of these disclosure controls and procedures required by Rule 30a-3(b) under the Investment Company Act of 1940 and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act as of a date within 90 days of the filing of this report.
(b) During the last fiscal quarter, there were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3. Exhibits
(a) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.
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.
|
COHEN & STEERS GLOBAL INCOME BUILDER, INC. |
| |
|
|
|
|
|
|
|
|
|
By: |
/s/ Adam M. Derechin |
|
|
|
Name: Adam M. Derechin |
|
|
|
Title: President and Principal Executive Officer |
|
Date: November 23, 2016
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/ Adam M. Derechin |
|
By: |
/s/ James Giallanza |
|
|
Name: Adam M. Derechin |
|
|
Name: James Giallanza |
|
|
Title: President and Principal Executive Officer |
|
|
Title: Treasurer and Principal Financial Officer |
Date: November 23, 2016