BlackRock Enhanced Global Dividend Trust

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: 811-21729

Name of Fund: BlackRock Enhanced Global Dividend Trust (BOE)

Fund Address:  100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock Enhanced Global Dividend Trust, 55 East 52nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 12/31/2018

Date of reporting period: 09/30/2018

Item 1 – Schedule of Investments

Schedule of Investments  (Unaudited)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
Common Stocks — 98.6%  

Australia — 4.9%

 

Amcor Ltd.

     2,166,058     $ 21,407,601  

Ansell Ltd.

     406,296       7,411,182  

Ensogo Ltd.(a)(b)

     418,198       3  

Sonic Healthcare Ltd.

     666,385       11,989,973  
   

 

 

  
    40,808,759  
Belgium — 0.7%  

bpost SA

     373,254       6,057,176  
   

 

 

  
Canada — 6.4%  

Rogers Communications, Inc., Class B

     497,518       25,587,520  

TELUS Corp.

     748,123       27,575,687  
   

 

 

  
    53,163,207  
China — 0.9%  

ANTA Sports Products Ltd.

     1,514,000       7,227,581  
   

 

 

  
Denmark — 1.0%  

Novo Nordisk A/S, Class B

     186,453       8,775,421  
   

 

 

  
Finland — 3.1%  

Kone OYJ, Class B

     482,959       25,779,749  
   

 

 

  
France — 3.9%  

Sanofi

     269,290       24,060,303  

Schneider Electric SE

     111,650       8,965,158  
   

 

 

  
    33,025,461  
Germany — 2.3%  

Deutsche Post AG, Registered Shares

     545,851       19,407,376  
   

 

 

  
India — 0.9%  

Hero MotoCorp Ltd.

     167,596       6,782,778  

Jasper Infotech Private Ltd. (Acquired 05/07/14, cost $2,637,143), 0.00%(a)(c)

     3,540       726,939  
   

 

 

  
    7,509,717  
Ireland — 1.5%  

Medtronic PLC(d)

     125,110       12,307,071  
   

 

 

  
Japan — 1.0%  

Japan Tobacco, Inc.

     310,500       8,108,181  
   

 

 

  
Netherlands — 2.5%  

Heineken NV

     111,338       10,449,142  

Koninklijke Philips NV

     237,749       10,836,948  
   

 

 

  
    21,286,090  
Singapore — 2.9%  

DBS Group Holdings Ltd.

     661,968       12,628,458  
Security   Shares     Value  
Singapore (continued)  

United Overseas Bank Ltd.

     606,000     $ 11,979,668  
   

 

 

  
    24,608,126  
Sweden — 1.4%  

Svenska Handelsbanken AB, Class A

     937,035       11,817,545  
   

 

 

  
Switzerland — 7.6%  

Nestle SA, Registered Shares

     305,978       25,468,554  

Novartis AG, Registered Shares

     347,751       29,933,868  

SGS SA, Registered Shares

     3,121       8,217,378  
   

 

 

  
    63,619,800  
Taiwan — 2.6%  

Far EasTone Telecommunications Co. Ltd.

     2,529,000       6,029,854  

Taiwan Semiconductor Manufacturing Co. Ltd.

     1,796,000       15,326,225  
   

 

 

  
    21,356,079  
United Kingdom — 13.8%  

AstraZeneca PLC

     241,470       18,821,148  

British American Tobacco PLC

     415,935       19,391,096  

Diageo PLC

     384,545       13,623,691  

GlaxoSmithKline PLC

     910,852       18,266,874  

Imperial Brands PLC

     626,898       21,814,763  

Unilever PLC

     427,866       23,504,434  
   

 

 

  
    115,422,006  
United States — 41.3%  

3M Co.(d)

     75,958       16,005,110  

AbbVie, Inc.(d)

     95,833       9,063,885  

Altria Group, Inc.(d)(e)

     491,905       29,666,791  

Cisco Systems, Inc.(d)(e)

     538,639       26,204,787  

Citizens Financial Group, Inc.

     167,555       6,462,596  

Coca-Cola Co.(d)

     579,723       26,777,405  

FirstSun Capital Bancorp, (Acquired 03/10/14, cost $5,461,692)(a)(c)

     120,312       4,464,791  

Genuine Parts Co.(d)

     242,320       24,086,608  

International Paper Co.(d)

     303,694       14,926,560  

Johnson & Johnson(d)(e)

     231,391       31,971,307  

M&T Bank Corp.(d)

     69,614       11,454,288  

Microsoft Corp.(d)

     75,620       8,648,659  

Paychex, Inc.(d)

     119,608       8,809,129  

PepsiCo, Inc.(d)

     186,245       20,822,191  

Pfizer, Inc.(d)(e)

     430,649       18,978,702  

Philip Morris International, Inc.(d)

     219,915       17,931,869  

Procter & Gamble Co.(d)

     220,742       18,372,357  

U.S. Bancorp(d)

     249,836       13,193,839  

United Parcel Service, Inc., Class B(d)

     76,232       8,900,086  

United Technologies Corp.(d)

     124,974       17,472,615  
 

 

 

              1  

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

(Percentages shown are based on Net Assets)

 

Security   Shares     Value  
United States (continued)  

Wells Fargo & Co.(d)

     228,446     $ 12,007,122  
   

 

 

  
    346,220,697  
   

 

 

  

Total Common Stocks — 98.7%
(Cost — $825,952,577)

 

     826,500,042  
   

 

 

  

Preferred Stocks — 0.7%

 

United States — 0.7%

 

Palantir Technologies, Inc., Series I (Acquired 03/27/14, cost $3,118,944), 0.00%(a)(c)

     508,800       2,951,040  

Uber Technologies, Inc., Series D (Acquired 06/01/14, cost $11,391,473), 0.00%(a)(c)

     68,723       3,050,614  
   

 

 

  
    6,001,654  
   

 

 

  

Total Preferred Stocks — 0.7%
(Cost — $4,185,045)

 

     6,001,654  
   

 

 

  

Total Long-Term Investments — 99.4%
(Cost — $830,137,622)

 

     832,501,696  
   

 

 

  
Security   Shares     Value  

Short-Term Securities — 0.6%

 

BlackRock Liquidity Funds, T-Fund, Institutional Class, 1.97%(f)(g)

     4,542,317     $ 4,542,317  
   

 

 

  

Total Short-Term Securities — 0.6%
(Cost — $4,542,317)

 

     4,542,317  
   

 

 

  

Total Investments Before Options Written — 100.0%
(Cost — $834,679,939)

 

     837,044,013  
   

 

 

  

Options Written — (0.9)%
(Premiums Received — $5,988,430)

 

     (7,049,687 ) 
   

 

 

  

Total Investments, Net of Options Written — 99.1%
(Cost — $828,691,509)

 

     829,994,326  

Other Assets Less Liabilities — 0.9%

 

     7,371,376  
   

 

 

  

Net Assets — 100.0%

 

   $ 837,365,702  
   

 

 

  
 
(a)

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy.

(b) 

Non-income producing security.

(c)

Restricted security as to resale, excluding 144A securities. As of period end, the Trust held restricted securities with a current value of $11,193,384 and an original cost of $22,609,252, which was 2.7% of its net assets.

(d) 

All or a portion of the security has been pledged and/or segregated as collateral in connection with outstanding exchange-traded options written.

(e)

All or a portion of the security has been pledged as collateral in connection with outstanding OTC derivatives.

(f) 

Annualized 7-day yield as of period end.

(g) 

During the period ended September 30, 2018, investments in issuers considered to be an affiliate of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, and/or related parties of the Trust were as follows:

 

Affiliate    Shares
Held at
12/31/17		      Net
Activity		      Shares
Held at
09/30/18		      Value at
09/30/18		      Income      Net Realized
Gain (Loss)(a)		      Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock Liquidity Funds, T-Fund, Institutional Class

      13,118,524        (8,576,207 )       4,542,317      $ 4,542,317      $ 68,123      $ —      $ —  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

(a)

Includes net capital gain distributions, if applicable.

 

Currency Abbreviations

 

AUD   Australian Dollar
CAD   Canadian Dollar
CHF   Swiss Franc
DKK   Danish Krone
EUR   Euro
GBP   British Pound
HKD   Hong Kong Dollar
INR   Indian Rupee

 

 

2        

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

JPY   Japanese Yen
SEK   Swedish Krona
SGD   Singapore Dollar
TWD   Taiwan New Dollar
USD   United States Dollar

Derivative Financial Instruments Outstanding as of Period End

Exchange-Traded Options Written

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		       

Notional

Amount (000)

        Value  

Call

 

3M Co.

      34          10/05/18          USD          215.00          USD          716        $ (1,071 ) 

Cisco Systems, Inc.

      904          10/05/18          USD          47.00          USD          4,398          (153,680 ) 

Cisco Systems, Inc.

      257          10/05/18          USD          48.00          USD          1,250          (20,175 ) 

International Paper Co.

      258          10/05/18          USD          53.00          USD          1,268          (387 ) 

International Paper Co.

      32          10/05/18          USD          52.00          USD          157          (128 ) 

Johnson & Johnson

      400          10/05/18          USD          136.00          USD          5,527          (100,000 ) 

Medtronic PLC

      81          10/05/18          USD          95.01          USD          797          (28,277 ) 

Microsoft Corp.

      200          10/05/18          USD          109.00          USD          2,287          (111,500 ) 

PepsiCo, Inc.

      165          10/05/18          USD          115.00          USD          1,845          (4,372 ) 

Pfizer, Inc.

      408          10/05/18          USD          40.05          USD          1,798          (164,728 ) 

Philip Morris International, Inc.

      176          10/05/18          USD          82.00          USD          1,435          (9,768 ) 

Procter & Gamble Co.

      306          10/05/18          USD          83.50          USD          2,547          (13,770 ) 

U.S. Bancorp

      220          10/05/18          USD          53.51          USD          1,162          (5,463 ) 

United Parcel Service, Inc., Class B

      151          10/05/18          USD          126.00          USD          1,763          (1,359 ) 

United Technologies Corp.

      245          10/05/18          USD          133.00          USD          3,425          (173,950 ) 

Wells Fargo & Co.

      290          10/05/18          USD          59.50          USD          1,524          (580 ) 

Wells Fargo & Co.

      13          10/05/18          USD          54.50          USD          68          (71 ) 

AbbVie, Inc.

      158          10/12/18          USD          95.00          USD          1,494          (18,328 ) 

Cisco Systems, Inc.

      257          10/12/18          USD          47.94          USD          1,250          (21,802 ) 

Coca-Cola Co.

      507          10/12/18          USD          45.50          USD          2,342          (43,856 ) 

Genuine Parts Co.

      329          10/12/18          USD          100.00          USD          3,270          (26,320 ) 

International Paper Co.

      258          10/12/18          USD          53.50          USD          1,268          (2,838 ) 

International Paper Co.

      33          10/12/18          USD          52.00          USD          162          (231 ) 

Microsoft Corp.

      62          10/12/18          USD          113.00          USD          709          (15,035 ) 

PepsiCo, Inc.

      3          10/12/18          USD          116.00          USD          34          (78 ) 

Pfizer, Inc.

      408          10/12/18          USD          40.15          USD          1,798          (161,356 ) 

Procter & Gamble Co.

      216          10/12/18          USD          84.00          USD          1,798          (10,368 ) 

Rogers Communications, Inc., Class B

      123          10/12/18          CAD          67.50          CAD          817          (2,666 ) 

Rogers Communications, Inc., Class B

      124          10/12/18          CAD          68.00          CAD          824          (1,680 ) 

U.S. Bancorp

      77          10/12/18          USD          55.00          USD          407          (385 ) 

U.S. Bancorp

      146          10/12/18          USD          54.66          USD          771          (1,989 ) 

Wells Fargo & Co.

      150          10/12/18          USD          58.50          USD          788          (300 ) 

3M Co.

      117          10/19/18          USD          210.00          USD          2,465          (42,998 ) 

AbbVie, Inc.

      67          10/19/18          USD          100.00          USD          634          (1,440 ) 

Altria Group, Inc.

      439          10/19/18          USD          65.00          USD          2,648          (2,634 ) 

Cisco Systems, Inc.

      257          10/19/18          USD          48.00          USD          1,250          (25,443 ) 

Coca-Cola Co.

      654          10/19/18          USD          46.00          USD          3,021          (38,913 ) 

Genuine Parts Co.

      302          10/19/18          USD          105.00          USD          3,002          (6,795 ) 

International Paper Co.

      353          10/19/18          USD          52.50          USD          1,735          (4,412 ) 

M&T Bank Corp.

      327          10/19/18          USD          175.00          USD          5,380          (10,627 ) 

Medtronic PLC

      177          10/19/18          USD          100.00          USD          1,741          (11,505 ) 

Microsoft Corp.

      30          10/19/18          USD          110.00          USD          343          (15,375 ) 

Paychex, Inc.

      282          10/19/18          USD          75.00          USD          2,077          (26,085 ) 

 

 

                      3  

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		       

Notional

Amount (000)

        Value  

PepsiCo, Inc.

      223          10/19/18          USD        $ 115.00          USD          2,493        $ (13,937 ) 

Pfizer, Inc.

      408          10/19/18          USD          40.25          USD          1,798          (158,017 ) 

Philip Morris International, Inc.

      178          10/19/18          USD          84.50          USD          1,451          (12,549 ) 

Rogers Communications, Inc., Class B

      750          10/19/18          CAD          70.00          CAD          4,982          (6,097 ) 

U.S. Bancorp

      68          10/19/18          USD          54.50          USD          359          (1,870 ) 

U.S. Bancorp

      178          10/19/18          USD          53.95          USD          940          (7,579 ) 

United Technologies Corp.

      112          10/19/18          USD          135.00          USD          1,566          (69,160 ) 

Wells Fargo & Co.

      86          10/19/18          USD          55.00          USD          452          (2,666 ) 

Wells Fargo & Co.

      33          10/19/18          USD          56.00          USD          173          (528 ) 

Coca-Cola Co.

      454          10/23/18          USD          46.25          USD          2,097          (22,816 ) 

Altria Group, Inc.

      439          10/26/18          USD          65.00          USD          2,648          (9,658 ) 

Cisco Systems, Inc.

      83          10/26/18          USD          47.50          USD          404          (11,952 ) 

Coca-Cola Co.

      441          10/26/18          USD          46.50          USD          2,037          (18,742 ) 

Genuine Parts Co.

      178          10/26/18          USD          102.00          USD          1,769          (17,800 ) 

International Paper Co.

      400          10/26/18          USD          56.00          USD          1,966          (2,800 ) 

Johnson & Johnson

      286          10/26/18          USD          141.00          USD          3,952          (37,323 ) 

Medtronic PLC

      220          10/26/18          USD          97.00          USD          2,164          (55,990 ) 

Microsoft Corp.

      161          10/26/18          USD          115.00          USD          1,841          (43,068 ) 

Pfizer, Inc.

      292          10/26/18          USD          42.00          USD          1,287          (65,554 ) 

Pfizer, Inc.

      137          10/26/18          USD          41.69          USD          604          (36,084 ) 

Philip Morris International, Inc.

      179          10/26/18          USD          83.50          USD          1,460          (21,301 ) 

Procter & Gamble Co.

      57          10/26/18          USD          84.50          USD          474          (4,360 ) 

U.S. Bancorp

      279          10/26/18          USD          54.50          USD          1,473          (10,044 ) 

United Parcel Service, Inc., Class B

      207          10/26/18          USD          120.00          USD          2,417          (28,566 ) 

United Technologies Corp.

      80          10/26/18          USD          143.00          USD          1,118          (15,640 ) 

Wells Fargo & Co.

      107          10/26/18          USD          56.50          USD          562          (1,819 ) 

Cisco Systems, Inc.

      257          10/30/18          USD          48.75          USD          1,250          (19,484 ) 

Wells Fargo & Co.

      33          10/31/18          USD          57.00          USD          173          (601 ) 

3M Co.

      89          11/02/18          USD          212.50          USD          1,875          (38,938 ) 

AbbVie, Inc.

      67          11/02/18          USD          97.00          USD          634          (11,356 ) 

Cisco Systems, Inc.

      581          11/02/18          USD          47.50          USD          2,827          (90,346 ) 

Coca-Cola Co.

      227          11/02/18          USD          46.50          USD          1,049          (14,414 ) 

Genuine Parts Co.

      165          11/02/18          USD          101.00          USD          1,640          (26,813 ) 

International Paper Co.

      93          11/02/18          USD          54.50          USD          457          (1,395 ) 

Johnson & Johnson

      123          11/02/18          USD          141.00          USD          1,699          (19,188 ) 

PepsiCo, Inc.

      3          11/02/18          USD          117.00          USD          34          (150 ) 

Pfizer, Inc.

      79          11/02/18          USD          43.00          USD          348          (12,403 ) 

Philip Morris International, Inc.

      118          11/02/18          USD          84.50          USD          962          (12,272 ) 

Procter & Gamble Co.

      458          11/02/18          USD          83.50          USD          3,812          (58,395 ) 

U.S. Bancorp

      137          11/02/18          USD          56.00          USD          723          (2,123 ) 

Wells Fargo & Co.

      29          11/02/18          USD          57.00          USD          152          (522 ) 

3M Co.

      117          11/09/18          USD          212.50          USD          2,465          (54,698 ) 

Cisco Systems, Inc.

      181          11/09/18          USD          48.80          USD          881          (17,322 ) 

Coca-Cola Co.

      327          11/09/18          USD          46.50          USD          1,510          (23,217 ) 

Wells Fargo & Co.

      60          11/09/18          USD          54.00          USD          315          (5,010 ) 

AbbVie, Inc.

      158          11/16/18          USD          95.00          USD          1,494          (47,479 ) 

Altria Group, Inc.

      843          11/16/18          USD          65.00          USD          5,084          (34,142 ) 

Cisco Systems, Inc.

      454          11/16/18          USD          48.00          USD          2,209          (81,720 ) 

Coca-Cola Co.

      114          11/16/18          USD          47.00          USD          527          (6,156 ) 

Medtronic PLC

      110          11/16/18          USD          97.50          USD          1,082          (31,185 ) 

 

 

4                

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

Exchange-Traded Options Written (continued)

 

Description    Number of
Contracts		        Expiration
Date		        Exercise
Price		       

Notional

Amount (000)

        Value  

PepsiCo, Inc.

      481          11/16/18          USD        $ 115.00          USD          5,378        $ (63,492 ) 

Pfizer, Inc.

      292          11/16/18          USD          42.98          USD          1,287          (44,345 ) 

TELUS Corp.

      291          11/16/18          CAD          50.00          CAD          1,385          (3,605 ) 

U.S. Bancorp

      69          11/16/18          USD          55.00          USD          364          (3,450 ) 

Wells Fargo & Co.

      33          11/16/18          USD          57.50          USD          173          (660 ) 
                                

 

 

  

Total

                                  $ (2,683,539 ) 
                                

 

 

  

OTC Options Written

 

Description   Counterparty    Number of
Contracts		      Expiration
Date		      Exercise
Price		      Notional
Amount (000)		      Value  

Call

 

TELUS Corp.

   Morgan Stanley & Co. International PLC      29,200        10/01/18        CAD        47.65        CAD        1,390      $ (4,770 ) 

Ansell Ltd.

   Citibank N.A.      24,200        10/03/18        AUD        25.48        AUD        611        (2,619 ) 

DBS Group Holdings Ltd.

   JPMorgan Chase Bank N.A.      135,500        10/03/18        SGD        25.73        SGD        3,534        (44,228 ) 

Diageo PLC

   Morgan Stanley & Co. International PLC      12,500        10/03/18        GBP        27.60        GBP        340        (1,036 ) 

Far EasTone Telecommunications Co. Ltd.

   JPMorgan Chase Bank N.A.      136,000        10/03/18        USD        73.26        USD        9,901        (1,306 ) 

Heineken NV

   Morgan Stanley & Co. International PLC      24,000        10/03/18        EUR        86.69        EUR        1,940        (1 ) 

Kone OYJ, Class B

   HSBC Bank PLC      38,800        10/03/18        EUR        46.66        EUR        1,784        (17,230 ) 

bpost SA

   Credit Suisse International      25,000        10/03/18        EUR        13.78        EUR        350        (9,072 ) 

Citizens Financial Group, Inc.

   JPMorgan Chase Bank N.A.      28,700        10/09/18        USD        41.91        USD        1,107        (333 ) 

TELUS Corp.

   Goldman Sachs International      24,400        10/09/18        CAD        47.10        CAD        1,162        (14,208 ) 

TELUS Corp.

   Royal Bank of Canada      30,600        10/09/18        CAD        48.43        CAD        1,457        (2,339 ) 

bpost SA

   Credit Suisse International      25,000        10/09/18        EUR        13.78        EUR        350        (11,283 ) 

ANTA Sports Products Ltd.

   UBS AG      215,000        10/10/18        HKD        44.36        HKD        8,035        (1,357 ) 

Amcor Ltd.

   Morgan Stanley & Co. International PLC      364,000        10/10/18        AUD        14.73        AUD        4,976        (134 ) 

Sonic Healthcare Ltd.

   JPMorgan Chase Bank N.A.      30,000        10/10/18        AUD        26.14        AUD        747        (322 ) 

Koninklijke Philips NV

   Morgan Stanley & Co. International PLC      111,800        10/12/18        EUR        38.43        EUR        4,389        (143,242 ) 

Novo Nordisk A/S, Class B

   Morgan Stanley & Co. International PLC      26,100        10/12/18        DKK        319.16        DKK        7,890        (1,547 ) 

Citizens Financial Group, Inc.

   Citibank N.A.      50,000        10/17/18        USD        41.28        USD        1,929        (5,234 ) 

GlaxoSmithKline PLC

   Citibank N.A.      99,900        10/17/18        GBP        15.61        GBP        1,537        (16,744 ) 

Heineken NV

   Goldman Sachs International      28,300        10/17/18        EUR        83.85        EUR        2,287        (5,227 ) 

Nestle SA, Registered Shares

   Morgan Stanley & Co. International PLC      73,000        10/17/18        CHF        80.30        CHF        5,963        (137,873 ) 

Novo Nordisk A/S, Class B

   Deutsche Bank AG      61,600        10/17/18        DKK        312.83        DKK        18,621        (16,013 ) 

Sonic Healthcare Ltd.

   JPMorgan Chase Bank N.A.      30,000        10/17/18        AUD        26.14        AUD        747        (946 ) 

Svenska Handelsbanken AB, Class A

   Morgan Stanley & Co. International PLC      206,000        10/17/18        SEK        110.00        SEK        23,088        (68,891 ) 

TELUS Corp.

   Goldman Sachs International      24,300        10/17/18        CAD        47.40        CAD        1,157        (13,341 ) 

bpost SA

   Deutsche Bank AG      30,000        10/17/18        EUR        14.10        EUR        419        (9,868 ) 

Ansell Ltd.

   Goldman Sachs International      12,800        10/23/18        AUD        26.44        AUD        323        (1,389 ) 

AstraZeneca PLC

   Barclays Bank PLC      69,200        10/23/18        GBP        59.96        GBP        4,138        (112,786 ) 

Deutsche Post AG, Registered Shares

   Morgan Stanley & Co. International PLC      156,500        10/23/18        EUR        31.97        EUR        4,792        (18,919 ) 

Far EasTone Telecommunications Co. Ltd.

   Morgan Stanley & Co. International PLC      170,000        10/23/18        USD        72.58        USD        12,376        (6,273 ) 

TELUS Corp.

   Morgan Stanley & Co. International PLC      16,600        10/23/18        CAD        48.08        CAD        790        (4,670 ) 

ANTA Sports Products Ltd.

   JPMorgan Chase Bank N.A.      398,000        10/24/18        HKD        38.63        HKD        14,873        (76,960 ) 

Novartis AG, Registered Shares

   Morgan Stanley & Co. International PLC      18,250        10/24/18        CHF        82.75        CHF        1,542        (45,758 ) 

Unilever PLC

   Morgan Stanley & Co. International PLC      141,100        10/24/18        GBP        43.30        GBP        5,947        (68,014 ) 

Amcor Ltd.

   Citibank N.A.      256,000        10/26/18        AUD        14.58        AUD        3,500        (4,767 ) 

Imperial Brands PLC

   Deutsche Bank AG      64,500        10/26/18        GBP        27.77        GBP        1,722        (25,102 ) 

 

 

     5  

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

OTC Options Written (continued)

 

Description    Counterparty    Number of
Contracts		      Expiration
Date		      Exercise
Price		     

Notional

Amount (000)

      Value  

Call

                        

Kone OYJ, Class B

    Credit Suisse International      59,000        10/26/18        EUR      $ 46.57        EUR        2,712      $ (74,228 ) 

Schneider Electric SE

    Credit Suisse International      8,500        10/26/18        EUR        69.20        EUR        588        (13,956 ) 

United Overseas Bank Ltd.

    UBS AG      161,500        10/26/18        SGD        26.82        SGD        4,364        (86,740 ) 

Rogers Communications, Inc., Class B

    Goldman Sachs International      44,000        10/29/18        CAD        69.26        CAD        2,923        (9,607 ) 

TELUS Corp.

    Credit Suisse International      12,700        10/29/18        CAD        48.46        CAD        605        (3,005 ) 

TELUS Corp.

    Royal Bank of Canada      27,500        10/29/18        CAD        48.40        CAD        1,309        (6,893 ) 

Novartis AG, Registered Shares

    Goldman Sachs International      106,400        10/30/18        CHF        80.35        CHF        8,989        (475,694 ) 

SGS SA, Registered Shares

    Goldman Sachs International      1,100        10/30/18        CHF        2,569.96        CHF        2,842        (53,879 ) 

Amcor Ltd.

    UBS AG      398,100        10/31/18        AUD        14.15        AUD        5,442        (31,337 ) 

Ansell Ltd.

    Morgan Stanley & Co. International PLC      31,200        10/31/18        AUD        25.21        AUD        787        (13,549 ) 

Ansell Ltd.

    Morgan Stanley & Co. International PLC      33,500        10/31/18        AUD        24.94        AUD        845        (18,964 ) 

Diageo PLC

    Credit Suisse International      68,800        10/31/18        GBP        27.07        GBP        1,870        (51,167 ) 

Far EasTone Telecommunications Co. Ltd.

    Goldman Sachs International      360,000        10/31/18        USD        75.37        USD        26,208        (4,165 ) 

Kone OYJ, Class B

    Morgan Stanley & Co. International PLC      54,800        10/31/18        EUR        46.34        EUR        2,519        (81,404 ) 

Sanofi

    Goldman Sachs International      55,500        10/31/18        EUR        77.19        EUR        4,271        (78,137 ) 

Sonic Healthcare Ltd.

    Citibank N.A.      68,900        10/31/18        AUD        25.48        AUD        1,715        (13,822 ) 

TELUS Corp.

    Morgan Stanley & Co. International PLC      32,400        10/31/18        CAD        48.50        CAD        1,543        (7,835 ) 

Taiwan Semiconductor Manufacturing Co. Ltd.

    JPMorgan Chase Bank N.A.      844,000        10/31/18        USD        260.10        USD        219,904        (223,913 ) 

United Overseas Bank Ltd.

    Morgan Stanley & Co. International PLC      123,300        10/31/18        SGD        26.50        SGD        3,332        (89,323 ) 

AstraZeneca PLC

    Barclays Bank PLC      44,300        11/01/18        GBP        57.00        GBP        2,649        (197,851 ) 

DBS Group Holdings Ltd.

    Morgan Stanley & Co. International PLC      175,600        11/01/18        SGD        25.05        SGD        4,580        (158,794 ) 

Far EasTone Telecommunications Co. Ltd.

    UBS AG      182,000        11/01/18        USD        76.90        USD        13,250        (926 ) 

GlaxoSmithKline PLC

    Barclays Bank PLC      328,200        11/01/18        GBP        15.15        GBP        5,044        (198,090 ) 

Imperial Brands PLC

    Goldman Sachs International      155,000        11/01/18        GBP        26.50        GBP        4,139        (185,105 ) 

Japan Tobacco, Inc.

    JPMorgan Chase Bank N.A.      71,700        11/01/18        JPY        3,070.42        JPY        212,733        (15,484 ) 

Nestle SA, Registered Shares

    UBS AG      70,800        11/01/18        CHF        82.64        CHF        5,784        (59,618 ) 

Sanofi

    Credit Suisse International      71,100        11/01/18        EUR        76.16        EUR        5,471        (156,228 ) 

Schneider Electric SE

    Morgan Stanley & Co. International PLC      22,000        11/01/18        EUR        70.94        EUR        1,522        (26,379 ) 

Svenska Handelsbanken AB, Class A

    Morgan Stanley & Co. International PLC      234,400        11/01/18        SEK        107.76        SEK        26,272        (146,639 ) 

TELUS Corp.

    Goldman Sachs International      74,300        11/01/18        CAD        48.50        CAD        3,537        (21,283 ) 

Unilever PLC

    Credit Suisse International      60,000        11/01/18        GBP        42.53        GBP        2,529        (41,718 ) 

Rogers Communications, Inc., Class B

    Citibank N.A.      55,400        11/02/18        CAD        67.25        CAD        3,680        (28,394 ) 

Paychex, Inc.

    JPMorgan Chase Bank N.A.      28,000        11/05/18        USD        73.25        USD        2,062        (60,341 ) 

TELUS Corp.

    Goldman Sachs International      33,800        11/05/18        CAD        48.00        CAD        1,609        (13,197 ) 

Ansell Ltd.

    Citibank N.A.      27,000        11/06/18        AUD        25.75        AUD        681        (8,312 ) 

Far EasTone Telecommunications Co. Ltd.

    Citibank N.A.      241,000        11/06/18        USD        73.74        USD        17,545        (6,842 ) 

Deutsche Post AG, Registered Shares

    Credit Suisse International      100,000        11/07/18        EUR        31.92        EUR        3,062        (33,594 ) 

Diageo PLC

    Credit Suisse International      49,800        11/07/18        GBP        27.25        GBP        1,354        (32,873 ) 

Kone OYJ, Class B

    Credit Suisse International      44,200        11/07/18        EUR        47.16        EUR        2,032        (58,141 ) 

Novartis AG, Registered Shares

    Morgan Stanley & Co. International PLC      38,800        11/07/18        CHF        82.25        CHF        3,278        (117,689 ) 

Sonic Healthcare Ltd.

    Citibank N.A.      95,000        11/07/18        AUD        25.27        AUD        2,365        (27,000 ) 

TELUS Corp.

    Goldman Sachs International      16,700        11/08/18        CAD        48.53        CAD        795        (5,526 ) 

Schneider Electric SE

    Morgan Stanley & Co. International PLC      22,000        11/09/18        EUR        66.57        EUR        1,525        (90,726 ) 

 

 

6            

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

OTC Options Written (continued)

 

Description   Counterparty   Number of
Contracts		     Expiration
Date		     Exercise
Price		     Notional
Amount (000)		     Value  

Call

                

Rogers Communications, Inc., Class B

   UBS AG     34,800       11/13/18       CAD     $ 68.00       CAD       2,312     $ (21,235 ) 

ANTA Sports Products Ltd.

   Morgan Stanley & Co. International PLC     295,000       11/14/18       HKD       37.50       HKD       11,024       (101,590 ) 

Kone OYJ, Class B

   UBS AG     30,100       11/14/18       EUR       46.66       EUR       1,384       (50,655 ) 

Ansell Ltd.

   Citibank N.A.     62,200       11/16/18       AUD       25.41       AUD       1,569       (29,391 ) 

British American Tobacco PLC

   Morgan Stanley & Co. International PLC     72,800       11/20/18       GBP       36.69       GBP       2,604       (73,061 ) 

Diageo PLC

   Credit Suisse International     49,800       11/20/18       GBP       27.25       GBP       1,354       (39,143 ) 

SGS SA, Registered Shares

   UBS AG     365       11/20/18       CHF       2,636.03       CHF       943       (10,052 ) 

Sonic Healthcare Ltd.

   Goldman Sachs International     80,000       11/20/18       AUD       26.01       AUD       1,991       (13,040 ) 

British American Tobacco PLC

   Morgan Stanley & Co. International PLC     72,800       11/27/18       GBP       36.69       GBP       2,604       (83,669 ) 

Japan Tobacco, Inc.

   JPMorgan Chase Bank N.A.     37,000       11/27/18       JPY       3,007.77       JPY       109,779       (22,142 ) 
               

 

 

  
                $ (4,366,148 ) 
               

 

 

  

Fair Value Hierarchy as of Period End

Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

  •  

Level 1 — Unadjusted quoted prices in active markets/exchanges for identical assets or liabilities that Trust has the ability to access

 

  •  

Level 2 — Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

  •  

Level 3 — Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds. There may not be a secondary market, and/or there are a limited number of investors. Level 3 investments may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the Global Valuation Committee in the absence of market information.

Changes in valuation techniques may result in transfers into or out of an assigned level within the hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investments and derivative financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, refer to the Trust’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy:

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Investments:

                 

Common Stocks:

                  

Australia

   $ —        $ 40,808,756        $ 3        $ 40,808,759  

Belgium

     —          6,057,176          —          6,057,176  

 

 

     7  

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

      Level 1        Level 2        Level 3        Total  

Assets:

                 

Investments:

                 

Common Stocks:

                  

Canada

   $ 53,163,207        $ —        $ —        $ 53,163,207  

China

     —          7,227,581          —          7,227,581  

Denmark

     —          8,775,421          —          8,775,421  

Finland

     —          25,779,749          —          25,779,749  

France

     —          33,025,461          —          33,025,461  

Germany

     —          19,407,376          —          19,407,376  

India

     —          6,782,778          726,939          7,509,717  

Ireland

     12,307,071          —          —          12,307,071  

Japan

     —          8,108,181          —          8,108,181  

Netherlands

     —          21,286,090          —          21,286,090  

Singapore

     —          24,608,126          —          24,608,126  

Sweden

     —          11,817,545          —          11,817,545  

Switzerland

     —          63,619,800          —          63,619,800  

Taiwan

     —          21,356,079          —          21,356,079  

United Kingdom

     —          115,422,006          —          115,422,006  

United States

     341,755,906          —          4,464,791          346,220,697  

Preferred Stocks

     —          —          6,001,654          6,001,654  

Short-Term Securities

     4,542,317          —          —          4,542,317  
  

 

 

       

 

 

       

 

 

       

 

 

  
   $ 411,768,501        $ 414,082,125        $ 11,193,387        $ 837,044,013  
  

 

 

       

 

 

       

 

 

       

 

 

  

Derivative Financial Instruments(a)

                  

Liabilities:

                 

Equity contracts

   $ (1,993,677 )       $ (5,056,010 )       $ —        $ (7,049,687 ) 
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

Derivative financial instruments are options written, which are shown at value.

 

Transfers between Level 1 and Level 2 were as follows:

 

     

Transfers into

Level 1

       

Transfers out of

Level 1(a)

       

Transfers Into

Level 2(a)

       

Transfers out of

Level 2

  

Assets:

 

Long-Term Investments:

 

Common Stocks

    $ —        $ 19,072,931        $ 19,072,931        $ —  
  

 

 

       

 

 

       

 

 

       

 

 

  

 

  (a) 

External pricing service used to reflect any significant market movements between the time the Trust valued such foreign securities and the earlier closing of foreign markets.

 

 

 

8            

Schedule of Investments  (unaudited) (continued)

September 30, 2018

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

A reconciliation of Level 3 investments is presented when the Trust had a significant amount of Level 3 investments at the beginning and/or end of the period in relation to net assets. The following table is a reconciliation of Level 3 investments for which significant unobservable inputs were used in determining fair value:    

 

     

Common

Stocks

       

Preferred

Stocks

        Total  

Assets:

             

Opening Balance, as of December 31, 2017

    $ 4,411,841        $ 11,646,491        $ 16,058,332  

Transfers into Level 3

      —          —          —  

Transfers out of Level 3

      —          —          —  

Accrued discounts/premiums

      —          —          —  

Net realized gain (loss)

      —          3,369,128          3,369,128  

Net change in unrealized appreciation (depreciation)(a)(b)

      779,892          (2,865,141 )         (2,085,249 ) 

Purchases

      —          2,637,147          2,637,147  

Sales

      —          (8,785,971 )         (8,785,971 ) 
  

 

 

       

 

 

       

 

 

  

Closing Balance, as of September 30, 2018

    $ 5,191,733        $ 6,001,654        $ 11,193,387  
  

 

 

       

 

 

       

 

 

  

Net change in unrealized appreciation (depreciation) on investments still held at September 30, 2018(b)

    $ 779,892        $ (4,914,216 )       $ (4,134,324 ) 
  

 

 

       

 

 

       

 

 

  

 

  (a) 

Included in the related net change in unrealized appreciation (depreciation) in the Statements of Operations.

 
  (b) 

Any difference between net change in unrealized appreciation (depreciation) and net change in unrealized appreciation (depreciation) on derivative financial instruments still held at September 30, 2018 is generally due to derivative financial instruments no longer held or categorized as Level 3 at period end.

 

The following table summarizes the valuation approaches used and unobservable inputs utilized by the BlackRock Global Valuation Methodologies Committee (the “Global Valuation Committee”) to determine the value of certain of the Fund’s Level 3 investments as of period end. The table does not include Level 3 investments with values based upon unadjusted third party pricing information in the amount of $3. A significant change in the third party information could result in a significantly lower or higher value of such Level 3 investments.

 

      Value        Valuation Approach        Unobservable Inputs      Range of
unobservable
Inputs Utilized		        Range of
unobservable
Inputs Utilized		  

Assets:

                       

Common Stocks

    $ 5,191,730          Market        Tangible Book Value Multiple(a)        1.95x          —  
             Revenue Multiple(a)        7.75x          —  

Preferred Stocks(b)

      6,001,654          Market        Revenue Multiple(a)        6.58x-15.50x          10.97x  
  

 

 

                      
   $ 11,193,384                      
  

 

 

                      

 

  (a) 

Increase in unobservable input may result in a significant increase to value, while a decrease in the unobservable input may result in a significant decrease to value.    

 
  (b) 

For the year period September 30, 2018, the valuation technique for investments classified as preferred stocks amounting to $3,050,614 changed to Current Value. The investments were previously valued utilizing Transaction Price. The change was due to consideration of the information that was available at the time the investments were valued.     

 

 

 

                  9  

Item 2 – Controls and Procedures

 

2(a) –

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.

 

2(b) –

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3 – Exhibits

Certifications – Attached hereto

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.

 

BlackRock Enhanced Global Dividend Trust
By:      /s/ John M. Perlowski                        
     John M. Perlowski
     Chief Executive Officer (principal executive officer) of
     BlackRock Enhanced Global Dividend Trust
Date: November 19, 2018

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/ John M. Perlowski                        
     John M. Perlowski
     Chief Executive Officer (principal executive officer) of
     BlackRock Enhanced Global Dividend Trust
Date: November 19, 2018
By:      /s/ Neal J. Andrews                          
     Neal J. Andrews
     Chief Financial Officer (principal financial officer) of
     BlackRock Enhanced Global Dividend Trust
Date: November 19, 2018