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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- 22005
Evergreen Global
Dividend Opportunity Fund
_____________________________________________________________
(Exact name of registrant as specified in charter)
200 Berkeley
Street
Boston,
Massachusetts 02116
_____________________________________________________________
(Address of
principal executive offices) (Zip code)
Michael H. Koonce,
Esq.
200 Berkeley
Street
Boston,
Massachusetts 02116
____________________________________________________________
(Name and address
of agent for service)
Registrant's
telephone number, including area code: (617) 210-3200
Date of fiscal year
end: Registrant is making a quarterly filing for
one
of its
series,
Evergreen
Global
Dividend
Opportunity Fund, for the quarter ended
January
31, 2008.
This one
series has
an
October
31 fiscal
year end
.
Date of reporting
period:
January 31, 2008
Item 1 – Schedule of Investments
EVERGREEN GLOBAL DIVIDEND
OPPORTUNITY FUND |
|
January 31, 2008 (unaudited) |
|
Country |
|
Shares |
|
|
Value |
|
|
COMMON STOCKS 92.3% |
|
|
|
|||||
ENERGY 7.6% |
|
|
|
|
|
|
|
|
Oil, Gas & Consumable Fuels 7.6% |
|
|
|
|
|
|
|
|
Boardwalk Pipeline Partners, LP |
United States |
8,000 |
$ |
248,640 |
||||
Copano Energy, LLC |
United States |
602,000 |
21,274,680 |
|||||
Genesis Energy, LP |
United States |
311,229 |
6,666,525 |
|||||
Martin Midstream Partners, LP |
United States |
150,000 |
5,325,000 |
|||||
McMoRan Exploration Co. * |
United States |
28,984 |
456,208 |
|||||
Southwestern Energy Co. * |
United States |
575,000 |
32,148,250 |
|||||
Williams Pipeline Partners, LP * |
United States |
25,000 |
485,000 |
|||||
|
|
|
66,604,303 |
|||||
FINANCIALS 2.2% |
|
|
|
|
|
|
|
|
Capital Markets 0.3% |
|
|
|
|
|
|
|
|
UBS AG |
Switzerland |
75,000 |
3,096,750 |
|||||
Commercial Banks 0.3% |
|
|
|
|
|
|
|
|
Barclays plc |
United Kingdom |
100,000 |
942,681 |
|||||
HSBC Holdings plc – London Exchange |
United Kingdom |
100,000 |
1,499,216 |
|||||
|
|
|
2,441,897 |
|||||
Insurance 1.6% |
|
|
|
|
|
|
|
|
Allianz SE |
Germany |
75,000 |
13,716,441 |
|||||
INDUSTRIALS 0.8% |
|
|
|
|
|
|
|
|
Transportation Infrastructure 0.8% |
|
|
|
|
|
|
|
|
Macquarie Infrastructure Co., LLC |
United States |
200,000 |
6,612,000 |
|||||
TELECOMMUNICATION SERVICES 20.7% |
|
|
|
|
|
|
|
|
Diversified Telecommunication Services 14.6% |
|
|
|
|
|
|
|
|
AT&T, Inc. µ |
United States |
100,000 |
3,849,000 |
|||||
Belgacom SA |
Belgium |
100,000 |
4,694,105 |
|||||
Elisa Oyj |
Finland |
2,000,000 |
56,633,420 |
|||||
Shenandoah Telecommunications Co. + |
United States |
119,260 |
2,178,880 |
|||||
Swisscom AG |
Switzerland |
8,000 |
3,177,899 |
|||||
TeliaSonera AB |
Sweden |
100,000 |
884,376 |
|||||
Telstra Corp., ADR |
Australia |
21,500,000 |
54,693,749 |
|||||
Verizon Communications, Inc. |
United States |
40,000 |
1,553,600 |
|||||
|
|
|
127,665,029 |
|||||
Wireless Telecommunication Services 6.1% |
|
|
|
|
|
|
|
|
Rogers Communications, Inc., Class B |
Canada |
300,000 |
11,493,000 |
|||||
Vodafone Group plc |
United Kingdom |
12,000,000 |
42,110,353 |
|||||
|
|
|
53,603,353 |
|||||
UTILITIES 61.0% |
|
|
|
|
|
|
|
|
Electric Utilities 31.9% |
|
|
|
|
|
|
|
|
Allegheny Energy, Inc. * |
United States |
129,500 |
7,095,305 |
|||||
Drax Group plc |
United Kingdom |
2 |
15 |
|||||
E.ON AG |
Germany |
125,000 |
22,952,993 |
|||||
Edison International |
United States |
185,000 |
9,649,600 |
|||||
El Paso Electric Co. * |
United States |
100,000 |
2,343,000 |
|||||
Enel SpA |
Italy |
168,750 |
1,880,044 |
|||||
Entergy Corp. µ |
United States |
175,000 |
18,931,500 |
|||||
Exelon Corp. µ |
United States |
350,000 |
26,666,500 |
|||||
FirstEnergy Corp. µ |
United States |
600,000 |
42,732,000 |
|||||
Fortum Oyj |
Finland |
973,349 |
39,318,509 |
|||||
Maine & Maritimes Corp. * |
United States |
18,500 |
586,450 |
|||||
Portland General Electric Co. |
United States |
350,000 |
8,624,000 |
|||||
PPL Corp. |
United States |
78,400 |
3,835,328 |
|||||
Red Electrica de Espana SA |
Spain |
550,000 |
31,589,761 |
|||||
Scottish & Southern Energy plc |
United Kingdom |
1,400,000 |
42,534,747 |
|
1 |
EVERGREEN GLOBAL DIVIDEND
OPPORTUNITY FUND |
January 31, 2008 (unaudited) |
|
Country |
Shares |
Value |
|||||
COMMON STOCKS continued |
|
|
|
|||||
UTILITIES continued |
|
|
|
|
|
|
|
|
Electric Utilities continued |
|
|
|
|
|
|
|
|
Sierra Pacific Resources |
United States |
255,000 |
$ |
3,817,350 |
||||
TERNA SpA |
Italy |
1,000,000 |
4,192,915 |
|||||
Westar Energy, Inc. |
United States |
516,831 |
12,590,003 |
|||||
|
|
|
279,340,020 |
|||||
Gas Utilities 4.3% |
|
|
|
|
|
|
|
|
Enagas SA |
Spain |
1,375,000 |
37,877,670 |
|||||
Independent Power Producers & Energy Traders 3.5% |
|
|
|
|
|
|
|
|
Constellation Energy Group, Inc. µ |
United States |
275,000 |
25,839,000 |
|||||
Ormat Technologies, Inc. |
United States |
100,000 |
4,347,000 |
|||||
|
|
|
30,186,000 |
|||||
Multi-Utilities 18.7% |
|
|
|
|
|
|
|
|
Avista Corp. |
United States |
101,900 |
2,053,285 |
|||||
National Grid plc |
United Kingdom |
2,000,000 |
30,774,489 |
|||||
PG&E Corp. |
United States |
400,000 |
16,416,000 |
|||||
Public Service Enterprise Group, Inc. µ |
United States |
300,000 |
28,800,000 |
|||||
RWE AG |
Germany |
325,000 |
39,808,547 |
|||||
SUEZ |
France |
750,000 |
45,806,595 |
|||||
|
|
|
163,658,916 |
|||||
Water Utilities 2.6% |
|
|
|
|
|
|
|
|
Kelda Group plc |
United Kingdom |
1,000,001 |
21,593,484 |
|||||
Pennichuck Corp. |
United States |
59,200 |
1,462,240 |
|||||
|
|
|
23,055,724 |
|||||
Total Common Stocks (cost $786,362,764) |
|
|
807,858,103 |
|||||
PREFERRED STOCKS 6.9% |
|
|
|
|
|
|
|
|
FINANCIALS 3.5% |
|
|
|
|
|
|
|
|
Real Estate Investment Trusts 3.5% |
|
|
|
|
|
|
|
|
Thornburg Mortgage, Inc., 7.50% |
United States |
1,590,800 |
30,463,820 |
|||||
Thrifts & Mortgage Finance 0.0% |
|
|
|
|
|
|
|
|
Freddie Mac, 5.00% |
United States |
9,000 |
337,500 |
|||||
MATERIALS 0.3% |
|
|
|
|
|
|
|
|
Chemicals 0.2% |
|
|
|
|
|
|
|
|
E.I. DuPont de Nemours & Co., 4.50% |
United States |
22,700 |
1,914,604 |
|||||
Metals & Mining 0.1% |
|
|
|
|
|
|
|
|
Ryerson, Inc., Ser. A, 2.40% + o |
United States |
5,012 |
172,914 |
|||||
UTILITIES 3.1% |
|
|
|
|
|
|
|
|
Electric Utilities 3.0% |
|
|
|
|
|
|
|
|
Carolina Power & Light Co., 5.00% |
United States |
2,000 |
177,500 |
|||||
Connecticut Light & Power Co., 2.20% |
United States |
36,625 |
1,587,467 |
|||||
Connecticut Light & Power Co., Ser. 1963, 4.50% |
United States |
21,124 |
935,398 |
|||||
Consolidated Edison, Inc., 5.00% |
United States |
61,450 |
5,484,720 |
|||||
Consolidated Edison, Inc., Ser. D, 4.65% |
United States |
62,505 |
5,271,909 |
|||||
Entergy Arkansas, Inc., 4.32% |
United States |
5,500 |
440,687 |
|||||
Entergy Arkansas, Inc., Ser. 1965, 4.56% |
United States |
3,240 |
273,983 |
|||||
Florida Power Corp., 4.60% |
United States |
10,900 |
1,036,862 |
|||||
Indianapolis Power & Light Co., 4.20% |
United States |
20,000 |
1,950,000 |
|||||
MidAmerican Energy Co., 4.35% |
United States |
13,017 |
1,208,954 |
|||||
Pacific Enterprises, 4.40% |
United States |
10,300 |
842,669 |
|||||
Pacific Gas & Electric Co., 4.80% |
United States |
185,600 |
3,841,920 |
|||||
Peco Energy Co., 4.68% |
United States |
7,240 |
627,708 |
|||||
South Carolina Electric & Gas Co., 5.00% |
United States |
2,000 |
85,400 |
|||||
Southern California Edison Co., 4.78% |
United States |
30,000 |
645,000 |
|||||
Southern California Edison Co., Ser. B, 4.08% |
United States |
2,200 |
41,910 |
|||||
Union Electric Co., 5.50% |
United States |
973 |
98,638 |
|||||
Union Electric Co., 7.64% |
United States |
21,350 |
2,173,697 |
|||||
|
|
|
26,724,422 |
|||||
2 |
|
EVERGREEN GLOBAL DIVIDEND
OPPORTUNITY FUND |
||||||||
January 31, 2008 (unaudited) |
|
|
|
|
|
|
|
|
|
|
Country |
|
Shares |
|
|
Value |
|
PREFERRED STOCKS continued |
|
|
|
|
|
|
|
|
UTILITIES continued |
|
|
|
|
|
|
|
|
Gas Utilities 0.1% |
|
|
|
|
|
|
|
|
Public Service Electric & Gas Co., 5.28% |
|
United States |
|
5,900 |
|
$ |
561,562 |
|
Total Preferred Stocks (cost $68,249,567) |
|
|
|
|
|
|
60,174,822 |
|
CLOSED-END MUTUAL FUND SHARES 0.1% |
|
|
|
|
|
|
|
|
Tortoise Energy Capital Corp. (cos t $700,700) |
|
United States |
|
22,000 |
|
|
610,500 |
|
SHORT-TERM INVESTMENTS 4.6% |
|
|
|
|
|
|
|
|
MUTUAL FUND SHARES 4.6% |
|
|
|
|
|
|
|
|
Evergreen Institutional Money Market Fund, Class I, 4.31% q ø (cos t $40,106,161) |
|
United States |
|
40,106,161 |
|
|
40,106,161 |
|
Total Investments (cost $895,419,192) 103.9% |
|
|
|
|
|
|
908,749,586 |
|
SECURITIES SOLD SHORT (2.5%) |
|
|
|
|
|
|
|
|
FINANCIALS (0.3%) |
|
|
|
|
|
|
|
|
Consumer Finance (0.3%) |
|
|
|
|
|
|
|
|
Capital One Financial Corp. |
|
United States |
|
50,000 |
|
|
(2,740,500 |
) |
MATERIALS (1.4%) |
|
|
|
|
|
|
|
|
Construction Materials (1.4%) |
|
|
|
|
|
|
|
|
Martin Marietta Materials, Inc. |
|
United States |
|
100,000 |
|
|
(12,272,000 |
) |
TELECOMMUNICATION SERVICES (0.5%) |
|
|
|
|
|
|
|
|
Diversified Telecommunication Services (0.5%) |
|
|
|
|
|
|
|
|
Manitoba Telecom Services, Inc. |
|
Canada |
|
100,000 |
|
|
(4,276,955 |
) |
UTILITIES (0.3%) |
|
|
|
|
|
|
|
|
Multi-Utilities (0.1%) |
|
|
|
|
|
|
|
|
DTE Energy Co. |
|
United States |
|
25,000 |
|
|
(1,066,250 |
) |
Water Utilities (0.2%) |
|
|
|
|
|
|
|
|
Pennon Group plc |
|
United Kingdom |
|
50,000 |
|
|
(660,031 |
) |
Severn Trent plc |
|
United Kingdom |
|
25,000 |
|
|
(706,858 |
) |
|
|
|
|
|
|
|
(1,366,889 |
) |
Total Securities Sold Short (proceeds $20,119,876) |
|
|
|
|
|
|
(21,722,594 |
) |
Other Assets and Liabilities (1.4%) |
|
|
|
|
|
|
(11,996,087 |
) |
Net Assets Applicable to Common Shareholders 100.0% |
|
|
|
|
|
$ |
875,030,905 |
|
* |
Non-income producing security |
µ |
All or a portion of this security is pledged as collateral for written call options. |
+ |
Security is deemed illiquid and is valued using market quotations when readily available, unless otherwise noted. |
o |
Security is valued at fair value as determined by the investment advisor in good faith, according to procedures approved by the Board of Trustees. |
q |
Rate shown is the 7-day annualized yield at period end. |
ø |
Evergreen Investment Management Company, LLC is the investment advisor to both the Fund and the money market fund. |
Summary of Abbreviations
ADR |
American Depository Receipt |
|
3 |
EVERGREEN GLOBAL DIVIDEND
OPPORTUNITY FUND |
||||||||
January 31, 2008 (unaudited) |
|
|
|
|
|
|
|
|
The following table shows the percent of total long-term investments by geographic location as of January 31, 2008:
United States |
|
40.3% |
United Kingdom |
|
16.3% |
Finland |
|
11.3% |
Germany |
|
9.0% |
Spain |
|
8.2% |
Australia |
|
6.5% |
France |
|
5.4% |
Canada |
|
0.9% |
Switzerland |
|
0.7% |
Italy |
|
0.7% |
Belgium |
|
0.6% |
Sweden |
|
0.1% |
|
|
100.0% |
Open call options written as of January 31, 2008 were as follows:
Expiration |
|
|
|
Number of |
|
Strike |
|
Market |
|
Premiums |
|
Date |
|
Index/ETF |
|
Contracts |
|
Price |
|
Value |
|
Received |
|
02/15/2008 |
|
AMEX Airline Index |
|
4,913 |
|
34 USD |
|
$1,557,145 |
|
$417,114 |
|
02/15/2008 |
|
AMEX Securities Broker/Dealer Index |
|
880 |
|
194 USD |
|
1,485,777 |
|
332,640 |
|
02/15/2008 |
|
CAC 40 Index |
|
423 |
|
5,158 EUR |
|
123,530 |
|
234,929 |
|
02/15/2008 |
|
Dax Index |
|
603 |
|
7,214 EUR |
|
147,365 |
|
222,139 |
|
02/15/2008 |
|
Retail HOLDRs Trust |
|
3,563 |
|
96 USD |
|
722,862 |
|
185,917 |
|
02/15/2008 |
|
Russell 2000 Index |
|
474 |
|
719 USD |
|
619,889 |
|
267,701 |
|
02/15/2008 |
|
S & P 500 Index |
|
244 |
|
1,397 USD |
|
392,108 |
|
111,510 |
|
02/15/2008 |
|
Swiss Market Index |
|
429 |
|
8,155 CHF |
|
75,841 |
|
183,653 |
On January 31, 2008, the aggregate cost of securities for federal income tax purposes was $899,203,003. The gross unrealized appreciation and depreciation on securities based on tax cost was $43,076,872 and $33,530,289, respectively, with a net unrealized appreciation of $9,546,583.
Valuation of investments
Listed equity securities are usually valued at the last sales price or official closing price on the national securities exchange where the securities are principally traded.
Foreign securities traded on an established exchange are valued at the last sales price on the exchange where the security is primarily traded. If there has been no sale, the securities are valued at the mean between bid and asked prices. Foreign securities may be valued at fair value according to procedures approved by the Board of Trustees if the closing price is not reflective of current market values due to trading or events occurring in the foreign markets between the close of the established exchange and the valuation time of the Fund. In addition, substantial changes in values in the U.S. markets subsequent to the close of a foreign market may also affect the values of securities traded in the foreign market. The value of foreign securities may be adjusted if such movements in the U.S. market exceed a specified threshold.
Investments in open-end mutual funds are valued at net asset value. Securities for which market quotations are not readily available or not reflective of current market value are valued at fair value as determined by the investment advisor in good faith, according to procedures approved by the Board of Trustees.
Foreign currency translation
All assets and liabilities denominated in foreign currencies are translated into U.S. dollar amounts at the date of valuation. Purchases and sales of portfolio securities and income items denominated in foreign currencies are translated into U.S. dollar amounts on the respective dates of such transactions. The Fund does not separately account for that portion of the results of operations resulting from changes in foreign exchange rates on investments and the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses on investments.
Options
The Fund may write covered put or call options. When a Fund writes an option, an amount equal to the premium received is recorded as a liability and is subsequently adjusted to the current market value of the written option. Premiums received from written options, which expire unexercised, are recognized as realized gains from investments on the expiration date. The difference between the premium received and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is treated as a realized gain or loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in calculating the realized gain or loss on the sale. If a put option is exercised, the premium reduces the cost of the security purchased. The Fund, as a writer of an option, bears the market risk of an unfavorable change in the price of the security underlying the written option.
The Fund may also purchase call or put options. The premium is included in the Statement of Assets and Liabilities as an investment which is subsequently adjusted to the current market value of the option. Premiums paid for purchased options which expire are recognized as realized losses from investments on the expiration date. Premiums paid for purchased options which are exercised or closed are added to the amount paid or offset against the proceeds on the underlying security to determine the realized gain or loss. The risk of loss associated with purchased options is limited to the premium paid.
Short sales
The Fund may sell a security it does not own in anticipation of a decline in the market value of that security (short sale). When the Fund makes a short sale, it must borrow the security sold short and deliver it to the buyer. The Fund is then obligated to replace the security borrowed by purchasing the security at the market price at the time of replacement. Any interest or dividends accrued on such borrowed securities during the period of the loan is recorded as an expense on the Statement of Operations. To borrow the security, the Fund may be required to pay a premium, which would decrease the proceeds of the security sold. A gain, limited to the price at which the Fund sold the security short, or a loss, unlimited in size, will be recognized upon the closing of a short sale if the market price at the closing is less than or greater than, respectively, the proceeds originally received. Until the short sale is closed or the borrowed security is replaced, the Fund maintains a segregated account of cash or liquid securities, the dollar value of which is at least equal to the market value of the security at the time of the short sale.
4 |
|
Item 2 - Controls and Procedures
(a) |
The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-Q was recorded, processed, summarized, and reported timely. |
(b) |
There has been no change in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonable likely to materially affect, the registrant’s internal control over financial reporting. |
File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.
(a) |
Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the Investment Company Act of 1940, are attached as EX-99.CERT. |
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.
Evergreen Global Dividend Opportunity Fund
By: ______________________________ |
Dennis H. Ferro, |
Principal Executive Officer |
Date: March 30, 2008 |
By: ______________________________ |
Dennis H. Ferro, |
Principal Executive Officer |
Date: March 30, 2008 |
|
Kasey Phillips |
Principal Financial Officer |
Date: March 30, 2008 |