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 |
|
10017 | ||||
|
(Address of principal executive offices) |
|
(Zip code) | ||||
|
| ||||||
|
Francis C. Poli | ||||||
|
(Name and address of agent for service) | ||||||
|
| ||||||
|
Registrant’s telephone number, including area code: |
(212) 832-3232 |
| ||||
|
| ||||||
|
Date of fiscal year end: |
December 31 |
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|
|
|
| ||||
|
Date of reporting period: |
March 31, 2011 |
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Item 1. Schedule of Investments
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
March 31, 2011 (Unaudited)
|
|
|
Number |
|
Value |
| |
|
COMMON STOCK 112.8% |
|
|
|
|
| |
|
AUSTRALIA 3.4% |
|
|
|
|
| |
|
BANK 1.3% |
|
|
|
|
| |
|
Australia and New Zealand Banking Group Ltd.(a) |
|
142,761 |
|
$ |
3,515,899 |
|
|
MATERIALS 1.4% |
|
|
|
|
| |
|
BHP Billiton Ltd.(a) |
|
78,287 |
|
3,770,249 |
| |
|
REAL ESTATE—DIVERSIFIED 0.7% |
|
|
|
|
| |
|
GPT Group |
|
227,524 |
|
738,966 |
| |
|
Mirvac Group |
|
989,950 |
|
1,274,823 |
| |
|
|
|
|
|
2,013,789 |
| |
|
TOTAL AUSTRALIA |
|
|
|
9,299,937 |
| |
|
BRAZIL 2.5% |
|
|
|
|
| |
|
HOTEL 0.7% |
|
|
|
|
| |
|
BHG SA - Brazil Hospitality Group(b) |
|
121,277 |
|
1,689,923 |
| |
|
BHG SA - Brazil Hospitality Group, RCT(b) |
|
16,675 |
|
232,356 |
| |
|
|
|
|
|
1,922,279 |
| |
|
UTILITIES 1.8% |
|
|
|
|
| |
|
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS 1.1% |
|
|
|
|
| |
|
AES Tiete SA |
|
191,946 |
|
2,915,665 |
| |
|
WATER 0.7% |
|
|
|
|
| |
|
Cia de Saneamento Basico do Estado de Sao Paulo, ADR(c) |
|
35,100 |
|
2,061,774 |
| |
|
TOTAL UTILITIES |
|
|
|
4,977,439 |
| |
|
TOTAL BRAZIL |
|
|
|
6,899,718 |
| |
|
CANADA 5.1% |
|
|
|
|
| |
|
BANK 1.2% |
|
|
|
|
| |
|
Toronto-Dominion Bank/The(c) |
|
38,500 |
|
3,410,715 |
| |
|
DIVERSIFIED FINANCIAL SERVICE 0.8% |
|
|
|
|
| |
|
IGM Financial |
|
41,211 |
|
2,096,044 |
| |
|
FINANCIAL 1.1% |
|
|
|
|
| |
|
Power Corp. |
|
104,000 |
|
3,081,918 |
| |
|
|
|
Number |
|
Value |
| |
|
INDUSTRIAL 0.4% |
|
|
|
|
| |
|
Finning International |
|
42,000 |
|
$ |
1,240,722 |
|
|
MATERIALS 0.7% |
|
|
|
|
| |
|
CHEMICALS 0.4% |
|
|
|
|
| |
|
Potash Corp. of Saskatchewan |
|
20,500 |
|
1,209,278 |
| |
|
METALS & MINING 0.3% |
|
|
|
|
| |
|
Cameco Corp. |
|
22,900 |
|
688,772 |
| |
|
TOTAL MATERIALS |
|
|
|
1,898,050 |
| |
|
RESTAURANT 0.4% |
|
|
|
|
| |
|
Tim Hortons |
|
25,000 |
|
1,133,832 |
| |
|
TRANSPORT—RAIL 0.5% |
|
|
|
|
| |
|
Canadian National Railway Co. |
|
17,000 |
|
1,282,671 |
| |
|
TOTAL CANADA |
|
|
|
14,143,952 |
| |
|
FINLAND 0.8% |
|
|
|
|
| |
|
REAL ESTATE—DIVERSIFIED 0.5% |
|
|
|
|
| |
|
Sponda Oyj |
|
268,440 |
|
1,525,537 |
| |
|
TELECOMMUNICATION SERVICES 0.3% |
|
|
|
|
| |
|
Nokia Oyj(a) |
|
92,600 |
|
791,989 |
| |
|
TOTAL FINLAND |
|
|
|
2,317,526 |
| |
|
FRANCE 5.4% |
|
|
|
|
| |
|
BANK 0.2% |
|
|
|
|
| |
|
BNP Paribas |
|
9,140 |
|
668,515 |
| |
|
CONSUMER STAPLES 0.4% |
|
|
|
|
| |
|
Danone SA |
|
19,000 |
|
1,241,190 |
| |
|
ENERGY—OIL & GAS 1.4% |
|
|
|
|
| |
|
Total SA(a) |
|
64,181 |
|
3,907,070 |
| |
|
MATERIALS 0.6% |
|
|
|
|
| |
|
Lafarge SA(a) |
|
24,400 |
|
1,522,024 |
| |
|
REAL ESTATE—DIVERSIFIED 0.6% |
|
|
|
|
| |
|
Gecina SA |
|
11,059 |
|
1,525,278 |
| |
|
|
|
Number |
|
Value |
| |
|
UTILITIES 2.2 % |
|
|
|
|
| |
|
ELECTRIC UTILITIES 0.5 % |
|
|
|
|
| |
|
Electricite de France(a) |
|
36,744 |
|
$ |
1,521,590 |
|
|
MULTI UTILITIES 1.7% |
|
|
|
|
| |
|
GDF Suez(a) |
|
112,413 |
|
4,580,209 |
| |
|
TOTAL UTILITIES |
|
|
|
6,101,799 |
| |
|
TOTAL FRANCE |
|
|
|
14,965,876 |
| |
|
GERMANY 4.7% |
|
|
|
|
| |
|
AUTOMOTIVE 0.7% |
|
|
|
|
| |
|
Bayerische Motoren Werke AG(a) |
|
23,000 |
|
1,914,991 |
| |
|
INDUSTRIAL 1.4% |
|
|
|
|
| |
|
Siemens AG(a) |
|
28,500 |
|
3,906,135 |
| |
|
INSURANCE 1.5% |
|
|
|
|
| |
|
Allianz SE(a) |
|
29,200 |
|
4,098,081 |
| |
|
SOFTWARE 1.1% |
|
|
|
|
| |
|
SAP AG(a) |
|
50,000 |
|
3,061,151 |
| |
|
TOTAL GERMANY |
|
|
|
12,980,358 |
| |
|
HONG KONG 5.9 % |
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.5 % |
|
|
|
|
| |
|
CNOOC Ltd.(a) |
|
509,000 |
|
1,285,170 |
| |
|
FINANCE-INVESTMENT BANKERS/BROKERS 0.5% |
|
|
|
|
| |
|
Hong Kong Exchanges and Clearing Ltd.(a) |
|
69,500 |
|
1,507,305 |
| |
|
INDUSTRIALS 0.9% |
|
|
|
|
| |
|
Hutchison Whampoa Ltd.(a) |
|
201,000 |
|
2,379,891 |
| |
|
REAL ESTATE 2.0 % |
|
|
|
|
| |
|
DIVERSIFIED 1.3 % |
|
|
|
|
| |
|
Glorious Property Holdings Ltd. |
|
5,388,000 |
|
1,475,396 |
| |
|
Wharf Holdings Ltd.(a) |
|
302,200 |
|
2,090,153 |
| |
|
|
|
|
|
3,565,549 |
| |
|
OFFICE 0.7 % |
|
|
|
|
| |
|
Hongkong Land Holdings Ltd. (USD) |
|
274,000 |
|
1,918,000 |
| |
|
TOTAL REAL ESTATE |
|
|
|
5,483,549 |
| |
|
|
|
Number |
|
Value |
| |
|
RETAIL 0.4 % |
|
|
|
|
| |
|
Esprit Holdings Ltd. |
|
253,637 |
|
$ |
1,164,078 |
|
|
TELECOMMUNICATION SERVICES 0.4 % |
|
|
|
|
| |
|
China Mobile Ltd. |
|
136,500 |
|
1,257,333 |
| |
|
UTILITIES—ELECTRIC UTILITIES 1.2 % |
|
|
|
|
| |
|
CLP Holdings Ltd. |
|
419,000 |
|
3,401,643 |
| |
|
TOTAL HONG KONG |
|
|
|
16,478,969 |
| |
|
IRELAND 0.5 % |
|
|
|
|
| |
|
HEALTH CARE PRODUCTS |
|
|
|
|
| |
|
Covidien PLC(c) |
|
28,000 |
|
1,454,320 |
| |
|
ISRAEL 0.6 % |
|
|
|
|
| |
|
PHARMACEUTICAL |
|
|
|
|
| |
|
Teva Pharmaceutical Industries Ltd., ADR(c) |
|
35,784 |
|
1,795,283 |
| |
|
ITALY 2.6 % |
|
|
|
|
| |
|
BANK 0.2 % |
|
|
|
|
| |
|
UniCredito Italiano S.p.A. |
|
202,860 |
|
501,388 |
| |
|
ENERGY—OIL & GAS 1.0 % |
|
|
|
|
| |
|
Eni S.p.A.(a) |
|
111,800 |
|
2,745,816 |
| |
|
UTILITIES—GAS UTILITIES 1.4 % |
|
|
|
|
| |
|
Snam Rete Gas S.p.A.(a) |
|
700,482 |
|
3,937,138 |
| |
|
TOTAL ITALY |
|
|
|
7,184,342 |
| |
|
JAPAN 9.7 % |
|
|
|
|
| |
|
APPAREL 0.6 % |
|
|
|
|
| |
|
Fast Retailing Co., Ltd. |
|
11,200 |
|
1,401,683 |
| |
|
Nisshinbo Industries |
|
25,000 |
|
242,546 |
| |
|
|
|
|
|
1,644,229 |
| |
|
AUTOMOTIVE 0.8 % |
|
|
|
|
| |
|
Toyota Motor Corp. |
|
57,400 |
|
2,311,734 |
| |
|
BANK 0.1 % |
|
|
|
|
| |
|
Sumitomo Trust and Banking Co., Ltd.(d) |
|
50,000 |
|
264,487 |
| |
|
|
|
Number |
|
Value |
| |
|
ENERGY—OIL & GAS REFINING & MARKETING 0.1% |
|
|
|
|
| |
|
Showa Shell Sekiyu KK |
|
26,000 |
|
$ |
271,315 |
|
|
FINANCE 0.1% |
|
|
|
|
| |
|
Daiwa Securities Group |
|
47,000 |
|
215,845 |
| |
|
FOOD 0.4% |
|
|
|
|
| |
|
House Foods Corp. |
|
40,400 |
|
660,543 |
| |
|
Kikkoman Corp. |
|
53,000 |
|
499,543 |
| |
|
|
|
|
|
1,160,086 |
| |
|
HEALTH CARE 0.8% |
|
|
|
|
| |
|
Astellas Pharma |
|
40,800 |
|
1,510,748 |
| |
|
Eisai Co., Ltd. |
|
15,200 |
|
545,285 |
| |
|
|
|
|
|
2,056,033 |
| |
|
INDUSTRIAL 2.3% |
|
|
|
|
| |
|
Chiyoda Corp. |
|
46,000 |
|
421,399 |
| |
|
Fanuc Ltd.(a) |
|
20,100 |
|
3,042,306 |
| |
|
Secom Co., Ltd.(a) |
|
63,800 |
|
2,964,499 |
| |
|
|
|
|
|
6,428,204 |
| |
|
INSURANCE 0.2% |
|
|
|
|
| |
|
NKSJ Holdings |
|
85,000 |
|
554,881 |
| |
|
MATERIALS 0.4% |
|
|
|
|
| |
|
Mitsubishi Materials Corp. |
|
76,000 |
|
257,658 |
| |
|
Sumitomo Metal Mining Co., Ltd. |
|
14,000 |
|
240,851 |
| |
|
Toray Industries |
|
87,000 |
|
632,785 |
| |
|
|
|
|
|
1,131,294 |
| |
|
REAL ESTATE—DIVERSIFIED 0.7% |
|
|
|
|
| |
|
NTT Urban Development Corp. |
|
1,161 |
|
972,850 |
| |
|
Tokyu Land Corp. |
|
230,000 |
|
1,000,962 |
| |
|
|
|
|
|
1,973,812 |
| |
|
|
|
Number |
|
Value |
| |
|
TECHNOLOGY 3.0% |
|
|
|
|
| |
|
Canon |
|
53,400 |
|
$ |
2,323,972 |
|
|
Kyocera Corp. |
|
15,700 |
|
1,591,140 |
| |
|
NTT Data Corp. |
|
229 |
|
707,813 |
| |
|
Sony Corp. |
|
57,000 |
|
1,825,535 |
| |
|
TDK Corp. |
|
25,200 |
|
1,489,036 |
| |
|
Tokyo Electron Ltd. |
|
8,600 |
|
474,044 |
| |
|
|
|
|
|
8,411,540 |
| |
|
TELECOMMUNICATION SERVICES 0.2% |
|
|
|
|
| |
|
KDDI Corp. |
|
100 |
|
619,139 |
| |
|
TOTAL JAPAN |
|
|
|
27,042,599 |
| |
|
MEXICO 0.8% |
|
|
|
|
| |
|
RETAIL 0.5% |
|
|
|
|
| |
|
Wal-Mart de Mexico SA de CV |
|
480,600 |
|
1,442,473 |
| |
|
TELECOMMUNICATION SERVICES 0.3% |
|
|
|
|
| |
|
America Movil SAB de CV |
|
236,700 |
|
688,342 |
| |
|
TOTAL MEXICO |
|
|
|
2,130,815 |
| |
|
PANAMA 0.2% |
|
|
|
|
| |
|
CONSUMER—CYCLICAL |
|
|
|
|
| |
|
LEISURE TIME |
|
|
|
|
| |
|
Carnival Corp.(a) |
|
14,500 |
|
556,220 |
| |
|
SINGAPORE 0.4% |
|
|
|
|
| |
|
INDUSTRIALS — MARINE PARTS & SERVICES 0.0% |
|
|
|
|
| |
|
Hutchison Port Holdings Trust(b) |
|
17,100 |
|
16,929 |
| |
|
SEMICONDUCTORS 0.4% |
|
|
|
|
| |
|
Avago Technologies Ltd. |
|
36,500 |
|
1,135,150 |
| |
|
TOTAL SINGAPORE |
|
|
|
1,152,079 |
| |
|
SPAIN 0.6% |
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES |
|
|
|
|
| |
|
Telefonica SA(a) |
|
61,600 |
|
1,542,145 |
| |
|
|
|
Number |
|
Value |
| |
|
SWEDEN 0.9% |
|
|
|
|
| |
|
RETAIL |
|
|
|
|
| |
|
Hennes & Mauritz AB |
|
76,958 |
|
$ |
2,555,553 |
|
|
SWITZERLAND 5.3% |
|
|
|
|
| |
|
FOOD 1.9% |
|
|
|
|
| |
|
Nestle SA |
|
93,320 |
|
5,349,263 |
| |
|
HEALTH CARE 2.5% |
|
|
|
|
| |
|
Novartis AG(a) |
|
129,300 |
|
7,013,311 |
| |
|
MATERIALS—CHEMICALS 0.9% |
|
|
|
|
| |
|
Syngenta AG |
|
7,500 |
|
2,437,398 |
| |
|
TOTAL SWITZERLAND |
|
|
|
14,799,972 |
| |
|
UNITED KINGDOM 8.6% |
|
|
|
|
| |
|
BANK 1.6% |
|
|
|
|
| |
|
Barclays PLC(a) |
|
497,000 |
|
2,212,870 |
| |
|
HSBC Holdings PLC(a) |
|
209,166 |
|
2,150,837 |
| |
|
|
|
|
|
4,363,707 |
| |
|
CONSUMER DISCRETIONARY 0.8% |
|
|
|
|
| |
|
Reckitt Benckiser Group PLC(a) |
|
44,800 |
|
2,301,217 |
| |
|
CONSUMER—NON-CYCLICAL—AGRICULTURE 0.5% |
|
|
|
|
| |
|
British American Tobacco PLC(a) |
|
36,300 |
|
1,456,975 |
| |
|
ENERGY—INTEGRATED OIL & GAS 1.1% |
|
|
|
|
| |
|
Royal Dutch Shell PLC(a) |
|
81,024 |
|
2,942,716 |
| |
|
HEALTH CARE 1.9% |
|
|
|
|
| |
|
GlaxoSmithKline PLC(a) |
|
283,200 |
|
5,404,008 |
| |
|
REAL ESTATE—OFFICE 0.5% |
|
|
|
|
| |
|
Great Portland Estates PLC |
|
201,335 |
|
1,246,062 |
| |
|
TELECOMMUNICATION SERVICES 0.9% |
|
|
|
|
| |
|
Vodafone Group PLC(a) |
|
915,000 |
|
2,590,742 |
| |
|
UTILITIES—MULTI UTILITIES 1.3% |
|
|
|
|
| |
|
National Grid PLC(a) |
|
375,000 |
|
3,573,354 |
| |
|
TOTAL UNITED KINGDOM |
|
|
|
23,878,781 |
| |
|
|
|
Number |
|
Value |
| |
|
UNITED STATES 54.8% |
|
|
|
|
| |
|
AUTOMOTIVE 0.3% |
|
|
|
|
| |
|
Ford Motor Co.(b),(c) |
|
50,000 |
|
$ |
745,500 |
|
|
BASIC MATERIALS 0.4% |
|
|
|
|
| |
|
Praxair(c) |
|
12,400 |
|
1,259,840 |
| |
|
CONSUMER—CYCLICAL 2.2% |
|
|
|
|
| |
|
APPAREL 0.2% |
|
|
|
|
| |
|
NIKE(a),(c) |
|
7,837 |
|
593,261 |
| |
|
MEDIA 1.0% |
|
|
|
|
| |
|
Comcast Corp.(a) |
|
35,000 |
|
865,200 |
| |
|
The Walt Disney Co.(a) |
|
42,600 |
|
1,835,634 |
| |
|
|
|
|
|
2,700,834 |
| |
|
RETAIL 1.0% |
|
|
|
|
| |
|
Nordstrom(a) |
|
28,340 |
|
1,271,899 |
| |
|
Ross Stores(a) |
|
19,900 |
|
1,415,288 |
| |
|
|
|
|
|
2,687,187 |
| |
|
TOTAL CONSUMER—CYCLICAL |
|
|
|
5,981,282 |
| |
|
CONSUMER—NON-CYCLICAL 4.3% |
|
|
|
|
| |
|
AGRICULTURE 0.9% |
|
|
|
|
| |
|
Archer-Daniels-Midland Co.(a),(c) |
|
33,379 |
|
1,201,978 |
| |
|
Philip Morris International(a),(c) |
|
20,233 |
|
1,327,892 |
| |
|
|
|
|
|
2,529,870 |
| |
|
BEVERAGE 0.2% |
|
|
|
|
| |
|
PepsiCo(c) |
|
9,710 |
|
625,421 |
| |
|
COSMETICS/PERSONAL CARE 0.7% |
|
|
|
|
| |
|
Colgate-Palmolive Co.(c) |
|
8,000 |
|
646,080 |
| |
|
Procter & Gamble Co.(a),(c) |
|
20,076 |
|
1,236,682 |
| |
|
|
|
|
|
1,882,762 |
| |
|
FOOD 0.4% |
|
|
|
|
| |
|
Kraft Foods-Class A(a) |
|
35,673 |
|
1,118,705 |
| |
|
|
|
Number |
|
Value |
| |
|
RESTAURANT 1.2% |
|
|
|
|
| |
|
McDonald’s Corp.(a),(c) |
|
43,539 |
|
$ |
3,312,882 |
|
|
RETAIL 0.9% |
|
|
|
|
| |
|
CVS Caremark Corp.(a),(c) |
|
36,000 |
|
1,235,520 |
| |
|
Wal-Mart Stores(c) |
|
22,200 |
|
1,155,510 |
| |
|
|
|
|
|
2,391,030 |
| |
|
TOTAL CONSUMER— NON-CYCLICAL |
|
|
|
11,860,670 |
| |
|
ENERGY 10.7% |
|
|
|
|
| |
|
OIL & GAS 7.0% |
|
|
|
|
| |
|
Apache Corp.(c) |
|
20,200 |
|
2,644,584 |
| |
|
Chevron Corp.(a) |
|
35,130 |
|
3,774,016 |
| |
|
ConocoPhillips(a),(c) |
|
25,000 |
|
1,996,500 |
| |
|
Devon Energy Corp.(a),(c) |
|
14,073 |
|
1,291,479 |
| |
|
Exxon Mobil Corp.(a),(c) |
|
64,847 |
|
5,455,578 |
| |
|
Marathon Oil Corp.(a) |
|
24,000 |
|
1,279,440 |
| |
|
Occidental Petroleum Corp.(c) |
|
17,300 |
|
1,807,677 |
| |
|
Peabody Energy Corp.(a) |
|
16,500 |
|
1,187,340 |
| |
|
|
|
|
|
19,436,614 |
| |
|
OIL & GAS SERVICES 1.4% |
|
|
|
|
| |
|
Halliburton Co.(a) |
|
26,500 |
|
1,320,760 |
| |
|
Schlumberger Ltd.(a),(c) |
|
26,798 |
|
2,499,181 |
| |
|
|
|
|
|
3,819,941 |
| |
|
OIL & GAS STORAGE & TRANSPORTATION 2.3% |
|
|
|
|
| |
|
Buckeye Partners LP(c) |
|
29,200 |
|
1,855,368 |
| |
|
Kinder Morgan(a),(b) |
|
23,136 |
|
685,751 |
| |
|
MarkWest Energy Partners LP(c) |
|
82,393 |
|
3,993,589 |
| |
|
|
|
|
|
6,534,708 |
| |
|
TOTAL ENERGY |
|
|
|
29,791,263 |
| |
|
|
|
Number |
|
Value |
| |
|
FINANCIAL 7.6% |
|
|
|
|
| |
|
BANK 2.5% |
|
|
|
|
| |
|
Bank of America Corp.(a) |
|
181,900 |
|
$ |
2,424,727 |
|
|
Bank of New York Mellon Corp.(a) |
|
38,000 |
|
1,135,060 |
| |
|
BB&T Corp.(a) |
|
16,700 |
|
458,415 |
| |
|
US Bancorp(a),(c) |
|
65,872 |
|
1,740,997 |
| |
|
Wells Fargo & Co.(a),(c) |
|
37,987 |
|
1,204,188 |
| |
|
|
|
|
|
6,963,387 |
| |
|
CREDIT CARD 0.4% |
|
|
|
|
| |
|
American Express Co.(c) |
|
25,700 |
|
1,161,640 |
| |
|
DIVERSIFIED FINANCIAL SERVICE 3.1% |
|
|
|
|
| |
|
Citigroup(a),(b) |
|
313,118 |
|
1,383,982 |
| |
|
Goldman Sachs Group(a) |
|
18,900 |
|
2,995,083 |
| |
|
JPMorgan Chase & Co.(a),(c) |
|
92,794 |
|
4,277,803 |
| |
|
|
|
|
|
8,656,868 |
| |
|
INSURANCE 1.6% |
|
|
|
|
| |
|
HCC Insurance Holdings(a) |
|
38,981 |
|
1,220,495 |
| |
|
Prudential Financial(a),(c) |
|
50,000 |
|
3,079,000 |
| |
|
|
|
|
|
4,299,495 |
| |
|
TOTAL FINANCIAL |
|
|
|
21,081,390 |
| |
|
HEALTH CARE 2.9% |
|
|
|
|
| |
|
Abbott Laboratories(a),(c) |
|
70,363 |
|
3,451,305 |
| |
|
Becton Dickinson & Co.(a) |
|
7,900 |
|
628,998 |
| |
|
Johnson & Johnson(a) |
|
20,136 |
|
1,193,058 |
| |
|
Merck & Co.(a),(c) |
|
44,829 |
|
1,479,805 |
| |
|
Pfizer(a) |
|
60,384 |
|
1,226,399 |
| |
|
|
|
|
|
7,979,565 |
| |
|
|
|
Number |
|
Value |
| |
|
INDUSTRIAL 7.0% |
|
|
|
|
| |
|
AEROSPACE & DEFENSE 2.6% |
|
|
|
|
| |
|
General Dynamics Corp.(a) |
|
24,019 |
|
$ |
1,838,895 |
|
|
L-3 Communications Holdings(a) |
|
21,000 |
|
1,644,510 |
| |
|
Lockheed Martin Corp.(a) |
|
23,000 |
|
1,849,200 |
| |
|
United Technologies Corp.(c) |
|
22,973 |
|
1,944,664 |
| |
|
|
|
|
|
7,277,269 |
| |
|
COMMERCIAL SERVICES & SUPPLIES 0.5% |
|
|
|
|
| |
|
Iron Mountain(a),(c) |
|
45,500 |
|
1,420,965 |
| |
|
DIVERSIFIED MANUFACTURING 2.1% |
|
|
|
|
| |
|
Caterpillar(a) |
|
15,300 |
|
1,703,655 |
| |
|
Eaton Corp. |
|
11,000 |
|
609,840 |
| |
|
General Electric Co.(a) |
|
173,830 |
|
3,485,292 |
| |
|
|
|
|
|
5,798,787 |
| |
|
ENVIRONMENTAL CONTROL 0.4% |
|
|
|
|
| |
|
Waste Management(c) |
|
32,000 |
|
1,194,880 |
| |
|
TRANSPORTATION 1.4% |
|
|
|
|
| |
|
Norfolk Southern Corp.(c) |
|
18,000 |
|
1,246,860 |
| |
|
United Parcel Service(a) |
|
33,160 |
|
2,464,451 |
| |
|
|
|
|
|
3,711,311 |
| |
|
TOTAL INDUSTRIAL |
|
|
|
19,403,212 |
| |
|
MATERIALS 1.1% |
|
|
|
|
| |
|
CHEMICALS 0.6% |
|
|
|
|
| |
|
Dow Chemical Co.(a) |
|
32,000 |
|
1,208,000 |
| |
|
Ecolab(c) |
|
11,000 |
|
561,220 |
| |
|
|
|
|
|
1,769,220 |
| |
|
METALS & MINING 0.5% |
|
|
|
|
| |
|
Freeport-McMoRan Copper & Gold(a) |
|
10,700 |
|
594,385 |
| |
|
Newmont Mining Corp.(c) |
|
14,100 |
|
769,578 |
| |
|
|
|
|
|
1,363,963 |
| |
|
TOTAL MATERIALS |
|
|
|
3,133,183 |
| |
|
|
|
Number |
|
Value |
| |
|
REAL ESTATE 3.6% |
|
|
|
|
| |
|
DIVERSIFIED 0.5% |
|
|
|
|
| |
|
Forest City Enterprises(a),(b) |
|
80,857 |
|
$ |
1,522,537 |
|
|
HOTEL 0.6% |
|
|
|
|
| |
|
Hersha Hospitality Trust(c) |
|
265,387 |
|
1,576,399 |
| |
|
INDUSTRIAL 0.5% |
|
|
|
|
| |
|
ProLogis(c) |
|
79,088 |
|
1,263,826 |
| |
|
OFFICE 0.4% |
|
|
|
|
| |
|
Liberty Property Trust(c) |
|
37,252 |
|
1,225,591 |
| |
|
RESIDENTIAL - APARTMENT 0.7% |
|
|
|
|
| |
|
AvalonBay Communities(c) |
|
15,714 |
|
1,886,937 |
| |
|
SHOPPING CENTER—REGIONAL MALL 0.9% |
|
|
|
|
| |
|
Developers Diversified Realty Corp.(c) |
|
90,701 |
|
1,269,814 |
| |
|
General Growth Properties (c) |
|
3,309 |
|
51,223 |
| |
|
Pennsylvania REIT |
|
82,365 |
|
1,175,349 |
| |
|
|
|
|
|
2,496,386 |
| |
|
TOTAL REAL ESTATE |
|
|
|
9,971,676 |
| |
|
TECHNOLOGY 8.5% |
|
|
|
|
| |
|
COMPUTERS 2.0% |
|
|
|
|
| |
|
Apple(b),(c) |
|
8,900 |
|
3,101,205 |
| |
|
Hewlett-Packard Co.(a) |
|
12,674 |
|
519,254 |
| |
|
International Business Machines Corp.(a) |
|
11,433 |
|
1,864,379 |
| |
|
|
|
|
|
5,484,838 |
| |
|
INTERNET SERVICE PROVIDER 0.7% |
|
|
|
|
| |
|
Google(b),(c) |
|
3,100 |
|
1,817,251 |
| |
|
SEMICONDUCTORS 0.4% |
|
|
|
|
| |
|
Texas Instruments(c) |
|
36,000 |
|
1,244,160 |
| |
|
SERVICES 0.9% |
|
|
|
|
| |
|
Visa-Class A(c) |
|
33,700 |
|
2,480,994 |
| |
|
|
|
Number |
|
Value |
| |
|
SOFTWARE 2.6% |
|
|
|
|
| |
|
Microsoft Corp.(a) |
|
44,015 |
|
$ |
1,116,221 |
|
|
Oracle Corp.(a),(c) |
|
126,200 |
|
4,211,294 |
| |
|
Symantec Corp.(a),(b) |
|
97,300 |
|
1,803,942 |
| |
|
|
|
|
|
7,131,457 |
| |
|
TELECOMMUNICATION EQUIPMENT 1.9% |
|
|
|
|
| |
|
Corning(a),(c) |
|
84,000 |
|
1,732,920 |
| |
|
Harris Corp.(a) |
|
11,900 |
|
590,240 |
| |
|
QUALCOMM(a),(c) |
|
55,500 |
|
3,043,065 |
| |
|
|
|
|
|
5,366,225 |
| |
|
TOTAL TECHNOLOGY |
|
|
|
23,524,925 |
| |
|
TELECOMMUNICATION SERVICES 1.2% |
|
|
|
|
| |
|
AT&T(a),(c) |
|
83,977 |
|
2,569,696 |
| |
|
Verizon Communications(a),(c) |
|
19,686 |
|
758,699 |
| |
|
|
|
|
|
3,328,395 |
| |
|
UTILITIES 5.0% |
|
|
|
|
| |
|
ELECTRIC UTILITIES 2.3% |
|
|
|
|
| |
|
PPL Corp.(c) |
|
110,000 |
|
2,783,000 |
| |
|
Southern Co.(a),(c) |
|
96,885 |
|
3,692,287 |
| |
|
|
|
|
|
6,475,287 |
| |
|
MULTI UTILITIES 2.7% |
|
|
|
|
| |
|
PG&E Corp.(a) |
|
75,000 |
|
3,313,500 |
| |
|
Sempra Energy(a),(c) |
|
78,500 |
|
4,199,750 |
| |
|
|
|
|
|
7,513,250 |
| |
|
TOTAL UTILITIES |
|
|
|
13,988,537 |
| |
|
TOTAL UNITED STATES |
|
|
|
152,049,438 |
| |
|
TOTAL COMMON STOCK (Identified cost—$296,150,175) |
|
|
|
313,227,883 |
| |
|
CLOSED-END FUNDS—UNITED STATES 9.3% |
|
|
|
|
| |
|
COVERED CALL 0.4% |
|
|
|
|
| |
|
NFJ Dividend Interest & Premium Strategy Fund(c) |
|
59,200 |
|
1,076,256 |
| |
|
|
|
Number |
|
Value |
| |
|
EMERGING MARKETS DEBT 0.5% |
|
|
|
|
| |
|
AllianceBernstein Global High Income Fund(c) |
|
62,200 |
|
$ |
926,780 |
|
|
Morgan Stanley Emerging Markets Domestic Debt Fund(c) |
|
35,000 |
|
567,000 |
| |
|
|
|
|
|
1,493,780 |
| |
|
EQUITY TAX-ADVANTAGED 0.5% |
|
|
|
|
| |
|
Eaton Vance Tax-Advantaged Dividend Income Fund(c) |
|
74,900 |
|
1,319,738 |
| |
|
GLOBAL EQUITY DIVIDEND 1.0% |
|
|
|
|
| |
|
Alpine Total Dynamic Dividend Fund(c) |
|
435,800 |
|
2,680,170 |
| |
|
GLOBAL HYBRID (GROWTH & INCOME) 0.8% |
|
|
|
|
| |
|
Clough Global Opportunities Fund(c) |
|
157,885 |
|
2,186,707 |
| |
|
GLOBAL INCOME 1.0% |
|
|
|
|
| |
|
First Trust Aberdeen Global Opportunity Income Fund(c) |
|
44,100 |
|
741,321 |
| |
|
MFS Multimarket Income Trust |
|
82,400 |
|
552,904 |
| |
|
Western Asset Global High Income Fund(c) |
|
108,100 |
|
1,400,976 |
| |
|
|
|
|
|
2,695,201 |
| |
|
HIGH YIELD 1.3% |
|
|
|
|
| |
|
BlackRock Corporate High Yield Fund(c) |
|
50,300 |
|
360,651 |
| |
|
BlackRock Corporate High Yield Fund III(c) |
|
56,800 |
|
406,120 |
| |
|
BlackRock Corporate High Yield Fund V(c) |
|
137,801 |
|
1,637,076 |
| |
|
New America High Income Fund(c) |
|
118,700 |
|
1,211,927 |
| |
|
|
|
|
|
3,615,774 |
| |
|
LIMITED DURATION 0.3% |
|
|
|
|
| |
|
Eaton Vance Limited Duration Income Fund(c) |
|
35,300 |
|
564,094 |
| |
|
Franklin Templeton Limited Duration Income Trust(c) |
|
29,600 |
|
388,944 |
| |
|
|
|
|
|
953,038 |
| |
|
MULTI-SECTOR 1.2% |
|
|
|
|
| |
|
AGIC Convertible & Income Fund(c) |
|
105,000 |
|
1,149,750 |
| |
|
AGIC Convertible & Income Fund II(c) |
|
57,200 |
|
575,432 |
| |
|
PIMCO Income Opportunity Fund(c) |
|
57,400 |
|
1,572,760 |
| |
|
|
|
|
|
3,297,942 |
| |
|
|
|
Number |
|
Value |
| |
|
REAL ESTATE 0.7% |
|
|
|
|
| |
|
Alpine Global Premier Properties Fund(c) |
|
279,558 |
|
$ |
1,959,702 |
|
|
U.S. GENERAL EQUITY 1.6% |
|
|
|
|
| |
|
Gabelli Equity Trust(c) |
|
273,800 |
|
1,692,084 |
| |
|
Liberty All-Star Equity Fund |
|
271,700 |
|
1,429,142 |
| |
|
Royce Value Trust(c) |
|
88,888 |
|
1,367,986 |
| |
|
|
|
|
|
4,489,212 |
| |
|
TOTAL CLOSED-END FUNDS (Identified cost—$23,208,063) |
|
|
|
25,767,520 |
| |
|
PREFERRED SECURITIES—$25 PAR VALUE 2.4% |
|
|
|
|
| |
|
BERMUDA 0.7% |
|
|
|
|
| |
|
INSURANCE—REINSURANCE |
|
|
|
|
| |
|
Axis Capital Holdings Ltd., 7.50%, Series B ($100 par value) |
|
20,000 |
|
1,977,500 |
| |
|
NETHERLANDS 0.5% |
|
|
|
|
| |
|
INSURANCE—MULTI-LINE |
|
|
|
|
| |
|
ING Groep N.V., 7.375% |
|
63,000 |
|
1,513,890 |
| |
|
UNITED KINGDOM 0.9% |
|
|
|
|
| |
|
BANK |
|
|
|
|
| |
|
Barclays Bank PLC, 7.75%, Series IV |
|
35,000 |
|
900,200 |
| |
|
National Westminster Bank PLC, 7.76%, Series C |
|
63,373 |
|
1,523,487 |
| |
|
|
|
|
|
2,423,687 |
| |
|
UNITED STATES 0.3% |
|
|
|
|
| |
|
MORTGAGE |
|
|
|
|
| |
|
Countrywide Capital V, 7.00%, due 11/1/36 |
|
35,000 |
|
875,350 |
| |
|
TOTAL PREFERRED SECURITIES—$25 PAR VALUE (Identified cost—$6,355,101) |
|
|
|
6,790,427 |
| |
|
PREFERRED SECURITIES—CAPITAL SECURITIES 4.1% |
|
|
|
|
| |
|
BERMUDA 0.7% |
|
|
|
|
| |
|
INSURANCE—REINSURANCE |
|
|
|
|
| |
|
Catlin Insurance Co., 7.249%, due 12/31/49, 144A(e) |
|
2,000,000 |
|
1,900,000 |
| |
|
CAYMAN ISLANDS 0.7% |
|
|
|
|
| |
|
INTEGRATED TELECOMMUNICATIONS SERVICES |
|
|
|
|
| |
|
Centaur Funding Corp., 9.089%, due 4/21/20, 144A(e) |
|
1,750 |
|
1,938,125 |
| |
|
|
|
Number |
|
Value |
| |
|
FRANCE 0.6% |
|
|
|
|
| |
|
BANK—FOREIGN |
|
|
|
|
| |
|
BNP Paribas, due 12/31/49, 144A(e) |
|
1,800,000 |
|
$ |
1,746,000 |
|
|
UNITED KINGDOM 0.7% |
|
|
|
|
| |
|
BANK |
|
|
|
|
| |
|
LBG Capital No.1 PLC, 8.00%, due 12/29/49, 144A(e) |
|
2,000,000 |
|
1,930,000 |
| |
|
UNITED STATES 1.4% |
|
|
|
|
| |
|
INSURANCE |
|
|
|
|
| |
|
MULTI-LINE 0.7% |
|
|
|
|
| |
|
MetLife Capital Trust X, 9.25%, due 4/8/38, 144A(e) |
|
1,500,000 |
|
1,818,750 |
| |
|
PROPERTY CASUALTY 0.7% |
|
|
|
|
| |
|
ACE Capital Trust II, 9.70%, due 4/1/30 |
|
1,500,000 |
|
1,901,250 |
| |
|
|
|
|
|
3,720,000 |
| |
|
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES (Identified cost—$10,643,047) |
|
|
|
11,234,125 |
| |
|
|
|
Principal |
|
|
| |
|
CORPORATE BONDS 0.5% |
|
|
|
|
| |
|
UNITED STATES |
|
|
|
|
| |
|
PROPERTY CASUALTY |
|
|
|
|
| |
|
Liberty Mutual Insurance, due 10/15/97, 144A(e) (Identified cost—$1,342,503) |
|
$ |
1,500,000 |
|
1,383,559 |
|
|
|
|
Number |
|
Value |
| |||
|
SHORT-TERM INVESTMENTS 0.6% |
|
|
|
|
| |||
|
MONEY MARKET FUNDS |
|
|
|
|
| |||
|
Federated Government Obligations Fund, 0.01%(f) |
|
821,989 |
|
$ |
821,989 |
| ||
|
State Street Institutional Liquid Reserves Fund, 0.19%(f) |
|
828,488 |
|
828,488 |
| |||
|
TOTAL SHORT-TERM INVESTMENTS (Identified cost—$1,650,477) |
|
|
|
1,650,477 |
| |||
|
|
|
|
|
|
| |||
|
TOTAL INVESTMENTS (Identified cost—$339,349,366) |
|
129.7 |
% |
|
|
360,053,991 |
| |
|
|
|
|
|
|
|
|
| |
|
WRITTEN CALL OPTIONS |
|
(1.8 |
) |
|
|
(4,892,972 |
) | |
|
|
|
|
|
|
|
|
| |
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
|
(27.9 |
) |
|
|
(77,462,649 |
) | |
|
|
|
|
|
|
|
|
| |
|
NET ASSETS (Equivalent to $12.04 per share based on 23,073,973 shares of common stock outstanding) |
|
100.0 |
% |
|
|
$ |
277,698,370 |
|
|
|
|
|
|
|
| |||
|
|
|
Number of |
|
|
| |||
|
WRITTEN CALL OPTIONS (1.8)% |
|
|
|
|
| |||
|
EUROPE (0.6)% |
|
|
|
|
| |||
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,850, 04/15/11 |
|
1,100 |
|
$ |
(1,434,206 |
) | ||
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,900, 04/15/11 |
|
300 |
|
(229,586 |
) | |||
|
|
|
|
|
(1,663,792 |
) | |||
|
UNITED STATES (1.2)% |
|
|
|
|
| |||
|
S&P 500 Index, USD Strike Price 1,300, 4/16/11 |
|
303 |
|
(1,005,960 |
) | |||
|
S&P 500 Index, USD Strike Price 1,305, 4/16/11 |
|
353 |
|
(1,080,180 |
) | |||
|
S&P 500 Index, USD Strike Price 1,310, 4/16/11 |
|
304 |
|
(784,320 |
) | |||
|
S&P 500 Index, USD Strike Price 1,315, 4/16/11 |
|
152 |
|
(358,720 |
) | |||
|
|
|
|
|
(3,229,180 |
) | |||
|
TOTAL WRITTEN CALL OPTIONS (Premiums Received—$2,633,298) |
|
|
|
$ |
(4,892,972 |
) | ||
Glossary of Portfolio Abbreviations
|
|
ADR |
American Depositary Receipt |
|
|
EUR |
Euro Currency |
|
|
RCT |
Subscription Depositary Receipt |
|
|
REIT |
Real Estate Investment Trust |
|
|
USD |
United States Dollar |
Note: Percentages indicated are based on the net assets of the Fund.
(a) All or a portion of the security is held in connection with the revolving credit agreement; $156,762,294 has been pledged as collateral.
(b) Non-income producing security.
(c) A portion or all of the security is held in connection with written option contracts: $86,396,999 has been pledged to brokers.
(d) 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 value securities represent 0.1% of net assets of the Fund.
(e) Resale is restricted to qualified institutional investors. Aggregate holdings equal 3.9% of net assets of the Fund, 0.0% of which are illiquid.
(f) Rate quoted represents the seven day yield of the fund.
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited)
Note 1. Portfolio Valuation: Investments in securities that are listed on the New York Stock Exchange are valued, except as indicated below, at the last sale price reflected at the close of the New York Stock Exchange 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 asked prices for the day or, if no asked 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. In the absence of a last sale, options are valued at the average of the quoted bid and asked prices as of the close of business. Over-the-counter options quotations are provided by the respective counterparty when such prices are believed by the Board of Directors to reflect the fair market value.
Securities not listed on the New York Stock Exchange 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 on the business day as of which such value is being determined as reflected on the tape at the close of the exchange representing the principal market for such securities. 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 foreign securities 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 official closing prices as reported by sources as the Board of Directors deem appropriate 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 asked prices for the day, or if no asked price is available, at the bid price. However, certain fixed-income securities may be valued on the basis of prices provided by a pricing service when such prices are believed by the Board of Directors to reflect the fair market value of such securities.
Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or asked price or a counterparty valuation does not reflect market value, will be valued at fair value 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.
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
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
materially different than the value that could be realized upon the sale of that security.
Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates value. Investments in open-end mutual funds are valued at their closing net asset value.
Fair value is defined as the price that the Fund would receive to sell an investment or 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 are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of March 31, 2011 in valuing the Fund’s investments carried at value:
|
|
|
Total |
|
Quoted |
|
Significant |
|
Significant |
| ||||
|
Common Stock — Japan |
|
$ |
27,042,599 |
|
$ |
26,778,112 |
|
$ |
— |
|
$ |
264,487 |
|
|
Common Stock — Other Countries |
|
286,185,284 |
|
286,185,284 |
|
— |
|
— |
| ||||
|
Closed-End Funds |
|
25,767,520 |
|
25,767,520 |
|
— |
|
— |
| ||||
|
Preferred Securities — $25 Par Value — Bermuda |
|
1,977,500 |
|
— |
|
1,977,500 |
|
— |
| ||||
|
Preferred Securities — $25 Par Value — Other Countries |
|
4,812,927 |
|
4,812,927 |
|
— |
|
— |
| ||||
|
Preferred Securities — Capital Securities |
|
11,234,125 |
|
— |
|
11,234,125 |
|
— |
| ||||
|
Corporate Bonds |
|
1,383,559 |
|
— |
|
1,383,559 |
|
— |
| ||||
|
Money Market Funds |
|
1,650,477 |
|
— |
|
1,650,477 |
|
— |
| ||||
|
Total Investments |
|
$ |
360,053,991 |
|
$ |
343,543,843 |
|
$ |
16,245,661 |
|
$ |
264,487 |
|
|
Other Financial Instruments* |
|
$ |
(4,892,972 |
) |
$ |
(4,892,972 |
) |
— |
|
— |
| ||
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
* Other financial instruments are written option contracts.
Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:
|
|
|
Investments |
| |
|
Balance as of December 31, 2010 |
|
$ |
— |
|
|
Change in unrealized appreciation (depreciation) |
|
(50,823 |
) | |
|
Transfers in and/or out of Level 3 |
|
315,310 |
| |
|
Balance as of March 31, 2011 |
|
$ |
264,487 |
|
The investment classified as Level 3 delisted pending the completion of a corporate action. The Level 3 security has been fair valued utilizing inputs and assumptions which include book value, recent comparables in similar securities, as well as liquidity and market risk factors.
Note 2. Derivative Instruments: The following is a summary of the market valuations of the Fund’s derivative instruments as of March 31, 2011:
|
Equity contracts |
|
$ |
(4,892,972 |
) |
Options: The Fund may write put or covered call options on an index or a security with the intention of earning option premiums. Option premiums may increase the Fund’s realized gains and therefore may help increase distributable income. When a Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded in the Statement of Assets and Liabilities 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 premiums 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 securities purchased by the Fund. If a call option is exercised, the call premium is added to the proceeds of the security sold to determine its 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 contract.
Transactions in options written during the three months ended March 31, 2011, were as follows:
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
|
|
|
Number |
|
Premium |
| |
|
Options outstanding at December 31, 2010 |
|
2,423 |
|
$ |
2,611,338 |
|
|
Options written |
|
7,294 |
|
7,647,958 |
| |
|
Options terminated in closing transactions |
|
(7,205 |
) |
(7,625,998 |
) | |
|
Options outstanding at March 31, 2011 |
|
2,512 |
|
$ |
2,633,298 |
|
Note 3. Income Tax Information
As of March 31, 2011, the federal tax cost and net unrealized appreciation on securities were as follows:
|
Gross unrealized appreciation |
|
$ |
41,190,989 |
|
|
Gross unrealized depreciation |
|
(20,486,364 |
) | |
|
Net unrealized appreciation |
|
$ |
20,704,625 |
|
|
Cost for federal income tax purposes |
|
$ |
339,349,366 |
|
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 |
|
|
|
| |
|
Date: May 27, 2011 |
| |
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: May 27, 2011 |
| |||