Date of fiscal year end:

February 28

Date of reporting period:

November 30, 2011

ING Global Equity Dividend and Premium Opportunity Fund

PORTFOLIO OF INVESTMENTS

ING Global Equity Dividend and Premium Opportunity Fund

as of November 30, 2011 (Unaudited)

Shares

Value

Percentage 
of Net 
Assets

COMMON STOCK: 97.6%

Australia: 4.1%

3,059,344

Insurance Australia Group

$

9,272,435

1.0

3,108,689

Telstra Corp., Ltd.

10,214,188

1.0

296,886

Wesfarmers Ltd.

9,532,553

1.0

1,251,550

Westfield Group

10,809,530

1.1

39,828,706

4.1

Brazil: 1.0%

398,900

Petroleo Brasileiro SA ADR

10,000,423

1.0

Canada: 3.1%

361,902

Enerplus Corp.

9,481,832

1.0

500,228

Shaw Communications, Inc. - Class B

10,333,648

1.1

237,664

TransCanada Corp.

9,991,698

1.0

29,807,178

3.1

Denmark: 0.3%

98,961

D/S Norden

2,627,017

0.3

France: 8.5%

620,070

AXA S.A.

8,978,433

0.9

222,168

BNP Paribas

8,844,121

0.9

263,284

Capgemini S.A.

9,999,581

1.1

216,629

Cie de Saint-Gobain

9,185,745

1.0

355,750

Gaz de France

9,973,797

1.1

140,458

Sanofi-Aventis

9,824,525

1.0

192,998

Total S.A.

9,957,313

1.0

327,091

Vinci S.A.

14,622,976

1.5

81,386,491

8.5

Germany: 6.2%

157,646

Bayer AG

10,373,341

1.1

197,249

DaimlerChrysler AG

8,973,548

0.9

662,872

Deutsche Post AG

10,019,625

1.0

416,803

E.ON AG

10,317,463

1.1

216,629

Metro AG

10,689,876

1.1

74,884

Muenchener Rueckversicherungs AG

9,463,823

1.0

59,837,676

6.2

Hong Kong: 1.7%

339,404

China Mobile Ltd. ADR

16,858,197

1.7

Italy: 0.5%

330,236

Altantia S.p.A.

5,089,229

0.5

Japan: 8.6%

219,100

Canon, Inc.

9,829,312

1.0

513,600

Daiichi Sankyo Co., Ltd.

9,261,006

1.0

1,700,300

JX Holdings, Inc.

10,813,264

1.1

2,286,800

Mitsubishi UFJ Financial Group, Inc.

10,016,224

1.0

677,200

Mitsui & Co., Ltd.

10,684,785

1.1

9,062

NTT DoCoMo, Inc.

16,017,500

1.7

569,600

Sumitomo Mitsui Financial Group, Inc.

15,843,241

1.7

82,465,332

8.6

Luxembourg: 0.9%

485,577

ArcelorMittal

 9,144,569

0.9

Netherlands: 5.2%

190,978

Akzo Nobel NV

9,664,156

1.0

768,557

Koninklijke KPN NV

9,406,454

1.0

455,605

Royal Dutch Shell PLC

15,913,668

1.7

483,486

Koninklijke Philips Electronics NV

9,835,281

1.0

1,422,214

TNT NV

4,947,490

0.5

49,767,049

5.2

Portugal: 1.1%

3,193,969

Energias de Portugal S.A.

10,236,941

1.1

Singapore: 2.1%

1,029,500

DBS Group Holdings Ltd.

10,237,821

1.1

3,987,000

Singapore Telecommunications Ltd.

9,718,216

1.0

19,956,037

2.1

Spain: 1.0%

611,497

Abertis Infraestructuras S.A.

9,766,521

1.0

Sweden: 1.1%

967,802

Telefonaktiebolaget LM Ericsson

10,324,717

1.1

Switzerland: 5.3%

173,222

@

Credit Suisse Group

4,180,811

0.4

178,773

Novartis AG

9,654,501

1.0

61,292

Roche Holding AG - Genusschein

9,749,981

1.0

282,500

Transocean Ltd.

12,105,125

1.3

69,629

@

Zurich Financial Services AG

15,334,976

1.6

51,025,394

5.3

Taiwan: 2.5%

442,000

HTC Corp.

7,276,831

0.8

1,279,158

Taiwan Semiconductor Manufacturing Co., Ltd. ADR

16,526,722

1.7

23,803,553

2.5

United Kingdom: 7.8%

3,341,312

BT Group PLC

9,998,595

1.1

1,153,424

HSBC Holdings PLC

8,997,218

0.9

442,217

Imperial Tobacco Group PLC

15,909,624

1.7

918,861

Land Securities Group PLC

9,936,689

1.0

970,658

Prudential PLC

9,553,811

1.0

1,293,454

Reed Elsevier PLC

10,756,832

1.1

467,635

Scottish & Southern Energy PLC

9,683,193

1.0

74,835,962

7.8

PORTFOLIO OF INVESTMENTS

ING Global Equity Dividend and Premium Opportunity Fund

as of November 30, 2011 (Unaudited) (continued)

Shares

Value

Percentage 
of Net 
Assets

United States: 36.6%

299,614

Abbott Laboratories

$

 16,343,944

1.7

256,827

American Electric Power Co., Inc.

10,190,895

1.1

326,548

Arthur J. Gallagher & Co.

10,116,457

1.1

550,790

AT&T, Inc.

15,961,894

1.7

511,000

Bristol-Myers Squibb Co.

16,719,920

1.7

457,800

CenturyTel, Inc.

17,176,656

1.8

398,335

ConAgra Foods, Inc.

10,061,942

1.0

102,900

Cullen/Frost Bankers, Inc.

5,203,653

0.5

361,900

Dow Chemical Co.

10,028,249

1.0

271,500

Eli Lilly & Co.

10,276,275

1.1

363,698

Exelon Corp.

16,115,458

1.7

966,000

General Electric Co.

15,369,060

1.6

411,160

Intel Corp.

10,241,996

1.1

250,700

Johnson & Johnson

16,225,304

1.7

464,400

JPMorgan Chase & Co.

14,382,468

1.5

144,741

Kimberly-Clark Corp.

10,344,639

1.1

458,871

Kraft Foods, Inc.

16,588,187

1.7

385,642

Maxim Integrated Products

9,891,717

1.0

267,000

Nucor Corp.

10,527,810

1.1

791,300

People’s United Financial, Inc.

9,851,685

1.0

256,400

PepsiCo, Inc.

16,409,600

1.7

838,158

Pfizer, Inc.

16,821,831

1.7

495,092

Pitney Bowes, Inc.

9,223,564

1.0

549,637

PPL Corp.

16,500,103

1.7

260,798

Reynolds American, Inc.

10,917,004

1.1

352,420

Spectra Energy Corp.

10,368,197

1.1

351,900

UGI Corp.

10,542,924

1.1

306,376

Waste Management, Inc.

9,589,569

1.0

351,991,001

36.6

Total Common Stock

(Cost $944,494,856)

938,751,993

97.6

# of 
Contracts

Value

Percentage 
of Net 
Assets

PURCHASED OPTIONS: 0.1%

Options on Currencies: 0.1%

16,250,000

@

Call on USD/JPY, Strike @ 80.000, Exp. 02/21/12 Counterparty: Deutsche Bank AG

$

123,765

0.0

15,000,000

@

Call on USD/JPY, Strike @ 80.000, Exp. 12/20/11 Counterparty: Barclays Bank PLC

23,658

0.0

18,000,000

@

Call on USD/JPY, Strike @ 80.300, Exp. 01/20/12 Counterparty: Goldman Sachs & Co.

70,408

0.0

26,000,000

@

Put on EUR/USD, Strike @ 1.271, Exp. 12/20/11 Counterparty: Goldman Sachs & Co.

46,430

0.0

24,000,000

@

Put on EUR/USD, Strike @ 1.255, Exp. 02/21/12 Counterparty: Goldman Sachs & Co.

247,697

0.1

30,000,000

@

Put on EUR/USD, Strike @ 1.275, Exp. 01/20/12 Counterparty: Barclays Bank PLC

230,397

0.0

18,000,000

@

Put on GBP/USD, Strike @ 1.484, Exp. 12/20/11 Counterparty: Barclays Bank PLC

11,272

0.0

18,000,000

@

Put on GBP/USD, Strike @ 1.482, Exp. 02/21/12 Counterparty: Goldman Sachs & Co.

121,988

0.0

17,500,000

@

Put on GBP/USD, Strike @ 1.494, Exp. 01/20/12 Counterparty: Barclays Bank PLC

72,790

0.0

948,405

0.1

Options on Indices: 0.0%

40,000

@

Call on S&P 500® Index, Strike @ 1,048.580, Exp. 12/16/11 Counterparty: Royal Bank of Scotland

25,398

0.0

4,500

@

Put on Dow Jones Euro Stoxx 50 Index, Strike @ 1,848.510, Exp. 12/16/11 Counterparty: Morgan Stanley

10,083

0.0

1,100

@

Put on FTSE 100 Index, Strike @ 4,688.440, Exp. 12/16/11 Counterparty: Morgan Stanley

3,619

0.0

70,000

@

Put on Nikkei 225 Index, Strike @ 7,721.835, Exp. 12/16/11 Counterparty: Morgan Stanley

26,577

0.0

65,677

0.0

Total Purchased Options

(Cost $3,656,199)

1,014,082

0.1

Total Investments in Securities
(Cost $948,151,055)

$

 939,766,075

97.7

Assets in Excess of Other Liabilities

21,824,331

2.3

Net Assets

$

 961,590,406

100.0

@

Non-income producing security

ADR

American Depositary Receipt

Cost for federal income tax purposes is $974,785,234.

Net unrealized depreciation consists of:

Gross Unrealized Appreciation

$

57,836,758

Gross Unrealized Depreciation

(92,855,917)

Net Unrealized depreciation

$

(35,019,159)

PORTFOLIO OF INVESTMENTS

ING Global Equity Dividend and Premium Opportunity Fund

as of November 30, 2011 (Unaudited) (continued)

Sector Diversification

Percentage of 
Net Assets

Consumer Discretionary

3.1%

Consumer Staples

10.4

Energy

9.2

Financials

17.7

Health Care

13.0

Industrials

11.5

Information Technology

7.8

Materials

4.0

Options on Currencies

0.1

Options on Indices

0.0

Telecommunications

11.0

Utilities

9.9

Assets in Excess of Other Liabilities

2.3

Net Assets

100.0%

Quoted Prices 
in Active Markets 
for Identical 
Investments 
(Level 1)

Significant 
Other 
Observable 
Inputs # 
(Level 2)

Significant 
Unobservable 
Inputs 
(Level 3)

Fair Value 
at 
11/30/2011

Asset Table

Investments, at value

Common Stock

Australia

$

—

$

 39,828,706

$

 —

$

 39,828,706

Brazil

10,000,423

—

—

10,000,423

Canada

29,807,178

—

—

29,807,178

Denmark

—

2,627,017

—

2,627,017

France

—

81,386,491

—

81,386,491

Germany

—

59,837,676

—

59,837,676

Hong Kong

16,858,197

—

—

16,858,197

Italy

—

5,089,229

—

5,089,229

Japan

—

82,465,332

—

82,465,332

Luxembourg

—

9,144,569

—

9,144,569

Netherlands

—

49,767,049

—

49,767,049

Portugal

—

10,236,941

—

10,236,941

Singapore

—

19,956,037

—

19,956,037

Spain

—

9,766,521

—

9,766,521

Sweden

—

10,324,717

—

10,324,717

Switzerland

12,105,125

38,920,269

—

51,025,394

Taiwan

16,526,722

7,276,831

—

23,803,553

United Kingdom

—

74,835,962

—

74,835,962

United States

351,991,001

—

—

351,991,001

Total Common Stock

437,288,646

501,463,347

—

938,751,993

Purchased Options

—

1,014,082

—

1,014,082

Total Investments, at value

$

437,288,646

$

 502,477,429

$

 —

$

 939,766,075

Liabilities Table

Other Financial Instruments+

Written Options

$

—

$

 (12,389,269)

$

 —

$

 (12,389,269)

Total Liabilities

$

—

$

 (12,389,269)

$

 —

$

 (12,389,269)

+

Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument.

#

The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Fund’s investments are categorized as Level 2 investments.

There were no significant transfers between Level 1 and 2 during the period ended November 30, 2011.

PORTFOLIO OF INVESTMENTS

ING Global Equity Dividend and Premium Opportunity Fund

as of November 30, 2011 (Unaudited) (continued)

# of
Contracts

Counterparty

Description

Exercise
Price

Expiration
Date

Premiums
Received

Fair
Value

Options on Indices

10,300

Deutsche Bank AG

Call on Dow Jones Euro Stoxx 50 Index

2,263.740

 EUR

01/06/12

$

 1,388,626

$

 (1,895,982)

10,500

Morgan Stanley

Call on Dow Jones Euro Stoxx 50 Index

2,337.250

 EUR

12/02/11

1,503,523

(283,082)

9,900

Morgan Stanley

Call on Dow Jones Euro Stoxx 50 Index

2,464.150

 EUR

12/16/11

1,331,382

(221,627)

2,500

Morgan Stanley

Call on FTSE 100 Index

5,394.170

 GBP

01/06/12

731,310

(885,345)

2,600

Morgan Stanley

Call on FTSE 100 Index

5,467.650

 GBP

12/02/11

766,866

(239,744)

2,600

Royal Bank of Scotland

Call on FTSE 100 Index

5,679.840

 GBP

12/16/11

663,081

(155,182)

183,600

Deutsche Bank AG

Call on Nikkei 225 Index

8,445.260

 JPY

01/06/12

623,068

(535,948)

191,100

Morgan Stanley

Call on Nikkei 225 Index

9,051.060

 JPY

12/16/11

607,948

(20,896)

192,200

Nomura Group

Call on Nikkei 225 Index

8,706.040

 JPY

12/02/11

696,675

(1,785)

94,400

Morgan Stanley

Call on S&P 500® Index

1,217.380

 USD

01/06/12

4,447,184

(5,301,507)

96,600

Morgan Stanley

Call on S&P 500® Index

1,239.900

 USD

12/02/11

4,101,636

(1,455,284)

95,900

UBS Warburg LLC

Call on S&P 500® Index

1,289.440

 USD

12/16/11

3,503,218

(722,195)

Options on Currencies

30,000,000

Barclays Bank PLC

Call on EUR/USD

1.441

 USD

01/20/12

321,000

(62,198)

24,000,000

Goldman Sachs & Co.

Call on EUR/USD

1.410

 USD

02/21/12

504,000

(253,073)

26,000,000

Goldman Sachs & Co.

Call on EUR/USD

1.427

 USD

12/20/11

325,000

(15,447)

18,000,000

Barclays Bank PLC

Call on GBP/USD

1.630

 USD

12/20/11

153,000

(11,446)

17,500,000

Barclays Bank PLC

Call on GBP/USD

1.630

 USD

01/20/12

140,000

(52,961)

18,000,000

Goldman Sachs & Co.

Call on GBP/USD

1.610

 USD

02/21/12

153,000

(176,849)

15,000,000

Barclays Bank PLC

Put on USD/JPY

72.100

 USD

12/20/11

105,000

(1,946)

16,250,000

Deutsche Bank AG

Put on USD/JPY

72.750

 USD

02/21/12

81,250

(63,213)

18,000,000

Goldman Sachs & Co.

Put on USD/JPY

73.070

 USD

01/20/12

104,400

(33,559)

Total Written OTC Options

$

22,251,167

$

(12,389,269)

Derivatives Fair Value*

Equity contracts

$

 (10,770,172)

Foreign exchange contracts

(605,015)

Total

$

 (11,375,187)

Item 2. Controls and Procedures.

(a)

Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-Q are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-Q and the officer certifications of such Form N-Q.

(b)

There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3. Exhibits.

(Registrant):

ING Global Equity Dividend and Premium Opportunity Fund

By

/s/ Shaun P. Mathews

Shaun P. Mathews

President and Chief Executive Officer

Date:

January 25, 2012

By

/s/ Shaun P. Mathews

Shaun P. Mathews

President and Chief Executive Officer

Date:

January 25, 2012

By

/s/ Todd Modic

Todd Modic

Senior Vice President and Chief Financial Officer

Date:

January 25, 2012