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 (Formerly BlackRock Global Opportunities

            Equity 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 (Formerly Blackrock Global Opportunities Equity 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: 12/31/2017

Date of reporting period: 09/30/2017

Item 1 – Schedule of Investments

Schedule of Investments September 30, 2017 (Unaudited)

   

BlackRock Enhanced Global Dividend Trust (BOE)

(Percentages shown are based on Net Assets)

 

Common Stocks          

Shares

     Value  
Australia — 2.9%  

Amcor Ltd. (a)

        597,893     $ 7,151,014  

Ansell Ltd. (a)

        567,983       9,953,205  

Ensogo, Ltd. (a)(b)(c)

        418,198       —  

Sonic Healthcare Ltd. (a)

        735,839       12,091,910  
      

 

 

  
        29,196,129  
Belgium — 2.2%  

Anheuser-Busch InBev SA (a)

        93,835       11,216,775  

bpost SA (a)

        368,579       10,961,873  
      

 

 

  
        22,178,648  
Canada — 5.6%  

Rogers Communications, Inc., Class B (a)

        549,686       28,344,458  

TELUS Corp. (a)

        756,418       27,207,405  
      

 

 

  
        55,551,863  
China — 1.0%  

ANTA Sports Products Ltd. (a)

              2,405,000       10,113,709  
Denmark — 1.2%  

Novo Nordisk A/S, Class B (a)

              254,434       12,232,863  
Finland — 2.0%  

Kone OYJ, Class B (a)

              376,923       19,980,419  
France — 3.3%  

Sanofi (a)

              324,066       32,259,678  
Germany — 2.7%  

Deutsche Post AG, Registered Shares (a)

              596,618       26,593,819  
Hong Kong — 1.2%  

Sands China Ltd. (a)

              2,282,000       11,935,087  
Japan — 2.4%  

Japan Tobacco, Inc. (a)

              713,300       23,375,512  
Netherlands — 1.2%  

Heineken NV (a)

              120,022       11,876,474  
Sweden — 1.4%  

Svenska Handelsbanken AB, Class A (a)

              937,035       14,157,006  
Switzerland — 10.3%  

Givaudan SA, Registered Shares (a)

        7,300       15,892,003  

Nestle SA, Registered Shares (a)

        302,545       25,396,003  

Novartis AG, Registered Shares (a)

        358,963       30,790,030  

Roche Holding AG (a)

        70,063       17,909,514  

SGS SA, Registered Shares (a)

        5,070       12,174,462  
      

 

 

  
        102,162,012  
Taiwan — 2.6%  

Far EasTone Telecommunications Co. Ltd. (a)

        3,304,000       7,860,743  
Common Stocks          

Shares

     Value  
Taiwan (continued)  

Taiwan Semiconductor Manufacturing Co. Ltd. (a)

        2,493,000     $ 17,856,003  
      

 

 

  
        25,716,746  
United Kingdom — 16.2%  

AstraZeneca PLC (a)

        374,819       24,925,993  

British American Tobacco PLC (a)

        638,859       39,994,941  

Diageo PLC (a)

        461,355       15,171,890  

GlaxoSmithKline PLC (a)

        872,498       17,441,766  

Imperial Brands PLC (a)

        818,036       34,914,406  

Lloyds Banking Group PLC (a)

        9,630,811       8,752,065  

Unilever PLC (a)

        350,723       20,299,608  
      

 

 

  
        161,500,669  
United States — 42.1%  

3M Co. (a)(d)

        88,255       18,524,724  

AbbVie, Inc. (a)

        208,912       18,563,920  

Altria Group, Inc. (a)

        637,734       40,445,090  

Cisco Systems, Inc. (a)

        829,702       27,902,878  

Citizens Financial Group, Inc. (a)

        297,440       11,264,053  

Coca-Cola Co. (a)

        525,688       23,661,217  

Genuine Parts Co. (a)

        287,055       27,456,811  

H&R Block, Inc. (a)

        682,719       18,078,399  

International Paper Co. (a)

        430,158       24,441,577  

Johnson & Johnson (a)

        265,397       34,504,264  

M&T Bank Corp. (a)

        96,920       15,607,997  

Microsoft Corp. (a)(d)

        249,977       18,620,787  

PepsiCo, Inc. (a)

        149,949       16,708,817  

Pfizer, Inc. (a)(d)

        277,058       9,890,971  

Philip Morris International, Inc. (a)

        256,801       28,507,479  

Procter & Gamble Co. (a)

        198,745       18,081,820  

Strategic Growth Bancorp, (Acquired 3/10/14,
cost $5,461,692) (b)(c)(e)

        120,312       3,955,884  

U.S. Bancorp (a)

        282,060       15,115,595  

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

        103,122       12,383,921  

United Technologies Corp. (a)

        168,496       19,559,016  

Wells Fargo & Co. (a)

        282,799       15,596,365  
      

 

 

  
        418,871,585  
Total Common Stocks — 98.3%       977,702,219  
      
                          
Preferred Stocks  
India — 0.1%  

Jasper Infotech Private Ltd., Series F, (Acquired 5/7/14, cost $1,888,464), 0.00% (b)(c)(e)

        266       745,228  
 

 

     
                
   BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017    1

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

Preferred Stocks   

Shares

     Value  
India (continued)  

Jasper Infotech Private Ltd., Series G, (Acquired 10/29/14, cost $741,913), 0.00% (b)(c)(e)

      88     $ 301,377  
    

 

 

  
        1,046,605  
United States — 1.5%             

Palantir Technologies, Inc., Series I (Acquired 2/7/14, cost $3,118,944), 0.00% (b)(c)(e)

      508,800       2,884,896  

Uber Technologies, Inc., Series D (Acquired 6/06/14, cost $3,845,800), 0.00% (b)(c)(e)

      247,908       12,246,655  
    

 

 

  
        15,131,551  
Total Preferred Stocks — 1.6%              16,178,156  

Total Long-Term Investments

(Cost — $965,693,724) — 99.9%

              993,880,375  
Short-Term Securities   

Shares

     Value  

BlackRock Liquidity Funds, T-Fund, Institutional Class, 0.91% (f)(g)

      6,787,805     $ 6,787,805  

Total Short-Term Securities

(Cost — $6,787,805) — 0.7%

 

 

     6,787,805  

Total Investments Before Options Written

(Cost — $972,481,529) — 100.6%

 

 

     1,000,668,180  
Options Written
(Premiums Received — $6,911,049) — (1.0)%		       (9,893,608 ) 

Total Investments, Net of Options Written

(Cost — $965,570,480) — 99.6%

 

 

     990,774,572  

Other Assets Less Liabilities — 0.4%

 

     3,903,068  
    

 

 

  

Net Assets — 100.0%

 

   $ 994,677,640  
    

 

 

  
 
Notes to Schedule of Investments      

 

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

 

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

 

(c)   Non-income producing security.

 

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

 

(e)   Restricted security as to resale, excluding 144A securities. As of period end, the Trust held restricted securities with a current value of $20,134,014 and an original cost of $15,056,813, which was 2.0% of its net assets.

 

(f)   Annualized 7-day yield as of period end.

 

(g)   During the period ended September 30, 2017, investments in issuers considered to be affiliates of the Trust for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

 

Affiliate   Shares Held
at December 31,
2016		     Net
Activity		     Shares Held
at September 30,
2017		     Value at
September 30,
2017		     Income    

Net Realized

Gain

     Change in
Unrealized
Appreciation
(Depreciation)		  

BlackRock T-Fund, Institutional Class

     11,863,116       (5,075,311 )      6,787,805     $ 6,787,805     $ 106,472       —       —  

SL Liquidity Series, LLC, Money Market Series

     —       —       —       —       32,561 1      —       —  

Total

         $ 6,787,805     $ 139,033       —       —  
       

 

 

  

1    Represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of fees and collateral investment expenses, and other payments to and from borrowers of securities.

     

 

 

     
                    
2        BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017   

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

Portfolio Abbreviations

 

ADR    American Depositary Receipts
AUD    Australian Dollar
CAD    Canadian Dollar
CHF    Swiss Franc
EUR    Euro
GBP    British Pound
HKD    Hong Kong Dollar
JPY    Japanese Yen
SEK    Swedish Krona
OTC    Over-the-Counter
USD    U.S. 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

 

Pfizer, Inc.

     96        10/05/17      USD     33.55          USD       (343 )    $ (20,703 ) 

Cisco Systems, Inc.

     553        10/06/17      USD     32.00          USD       (1,860 )      (90,416 ) 

Johnson & Johnson

     165        10/06/17      USD     133.00          USD       (2,145 )      (1,650 ) 

Pepsico, Inc.

     171        10/06/17      USD     117.00          USD       (1,905 )      (855 ) 

Pfizer, Inc.

     63        10/06/17      USD     34.00          USD       (225 )      (11,025 ) 

Procter & Gamble Co.

     113        10/06/17      USD     92.50          USD       (1,028 )      (734 ) 

Pfizer, Inc.

     170        10/12/17      USD     33.75          USD       (607 )      (33,558 ) 

Altria Group, Inc.

     303        10/13/17      USD     65.25          USD       (1,922 )      (6,636 ) 

Cisco Systems, Inc.

     822        10/13/17      USD     32.00          USD       (2,764 )      (136,041 ) 

International Paper Co.

     572        10/13/17      USD     56.00          USD       (3,250 )      (71,786 ) 

Johnson & Johnson

     164        10/13/17      USD     133.00          USD       (2,132 )      (3,280 ) 

Microsoft Corp.

     226        10/13/17      USD     75.50          USD       (1,683 )      (8,136 ) 

Procter & Gamble Co.

     228        10/13/17      USD     93.00          USD       (2,074 )      (2,736 ) 

United Technologies Corp.

     245        10/13/17      USD     122.00          USD       (2,844 )      (3,430 ) 

AbbVie, Inc.

     438        10/20/17      USD     75.45          USD       (3,892 )      (566,978 ) 

Altria Group, Inc.

     1,326        10/20/17      USD     65.00          USD       (8,409 )      (55,692 ) 

Cisco Systems, Inc.

     692        10/20/17      USD     31.00          USD       (2,327 )      (181,650 ) 

Coca-Cola Co.

     174        10/20/17      USD     45.60          USD       (783 )      (3,805 ) 

Genuine Parts Co.

     633        10/20/17      USD     87.50          USD       (6,055 )      (525,390 ) 

H&R Black, Inc.

     1,738        10/20/17      USD     27.00          USD       (4,602 )      (60,830 ) 

International Paper Co.

     190        10/20/17      USD     57.50          USD       (1,080 )      (11,495 ) 

M&T Bank Corp.

     226        10/20/17      USD     165.00          USD       (3,640 )      (31,075 ) 

M&T Bank Corp.

     200        10/20/17      USD     155.00          USD       (3,221 )      (144,000 ) 

Microsoft Corp.

     333        10/20/17      USD     72.50          USD       (2,481 )      (78,921 ) 

Pepsico, Inc.

     317        10/20/17      USD     113.00          USD       (3,532 )      (25,677 ) 

Pfizer, Inc.

     479        10/20/17      USD     34.00          USD       (1,710 )      (84,783 ) 

Philip Morris International, Inc.

     480        10/20/17      USD     115.75          USD       (5,328 )      (13,729 ) 

Procter & Gamble Co.

     114        10/20/17      USD     92.50          USD       (1,037 )      (4,560 ) 

Wells Fargo & Co.

     85        10/20/17      USD     50.00          USD       (469 )      (44,838 ) 

3M Co.

     88        10/27/17      USD     215.00          USD       (1,847 )      (14,828 ) 

3M Co.

     88        10/27/17      USD     217.50          USD       (1,847 )      (9,020 ) 

AbbVie, Inc.

     81        10/27/17      USD     87.00          USD       (720 )      (26,001 ) 

Altria Group, Inc.

     714        10/27/17      USD     64.50          USD       (4,528 )      (54,621 ) 

Cisco Systems, Inc.

     492        10/27/17      USD     32.50          USD       (1,655 )      (56,826 ) 

International Paper Co.

     574        10/27/17      USD     55.00          USD       (3,261 )      (142,065 ) 

Microsoft Corp.

     217        10/27/17      USD     74.00          USD       (1,616 )      (43,509 ) 

 

     
                
       BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017    3

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

Exchange-Traded Options Written (continued)                         
Description   Number of
Contracts		        Expiration
Date		      Exercise
Price		        Notional
Amount
(000)		     Value  

Pfizer, Inc.

     364        10/27/17      USD     35.50        USD     (1,299 )    $ (22,750 ) 

Procter & Gamble Co.

     79        10/27/17      USD     95.00        USD     (719 )      (1,106 ) 

U.S. Bancorp

     74        10/27/17      USD     52.00        USD     (397 )      (15,429 ) 

United Parcel Service, Class B

     206        10/27/17      USD     118.00        USD     (2,474 )      (70,040 ) 

United Parcel Service, Inc., Class BL

     247        10/27/17      USD     119.00        USD     (2,966 )      (65,579 ) 

United Technologies Corp.

     245        10/27/17      USD     117.00        USD     (2,844 )      (44,468 ) 

Johnson & Johnson

     425        11/01/17      USD     134.75        USD     (5,525 )      (27,755 ) 

3M Co.

     212        11/03/17      USD     212.50        USD     (4,450 )      (62,116 ) 

AbbVie, Inc.

     200        11/03/17      USD     87.50        USD     (1,777 )      (63,300 ) 

Cisco Systems, Inc.

     79        11/03/17      USD     33.00        USD     (266 )      (6,478 ) 

Cisco Systems, Inc.

     321        11/03/17      USD     33.50        USD     (1,080 )      (16,852 ) 

Coca-Cola Co.

     589        11/03/17      USD     46.00        USD     (2,651 )      (16,786 ) 

U.S. Bancorp

     616        11/03/17      USD     54.00        USD     (3,301 )      (57,288 ) 

International Paper Co.

     382        11/10/17      USD     58.00        USD     (2,171 )      (37,818 ) 

Microsoft Corp.

     216        11/10/17      USD     74.50        USD     (1,609 )      (43,848 ) 

United Technologies Corp.

     251        11/10/17      USD     120.00        USD     (2,914 )      (29,116 ) 

Wells Fargo & Co.

     533        11/10/17      USD     54.50        USD     (2,939 )      (85,280 ) 

Pfizer, Inc.

     525        11/13/17      USD     35.40        USD     (1,874 )      (38,326 ) 

AT&T, Inc.

     1,422        11/17/17      CAD     45.00        CAD     (6,382 )      (72,368 ) 

AbbVie, Inc.

     200        11/17/17      USD     87.50        USD     (1,777 )      (72,500 ) 

Altria Group, Inc.

     316        11/17/17      USD     64.01        USD     (2,004 )      (44,672 ) 

Cisco Systems, Inc.

     691        11/17/17      USD     34.00        USD     (2,324 )      (43,188 ) 

Coca-Cola Co.

     175        11/17/17      USD     46.00        USD     (788 )      (6,737 ) 

Coca-Cola Co.

     196        11/17/17      USD     47.00        USD     (882 )      (2,744 ) 

Genuine Parts Co.

     630        11/17/17      USD     87.50        USD     (6,026 )      (548,100 ) 

International Paper Co.

     174        11/17/17      USD     57.50        USD     (989 )      (22,359 ) 

Johnson & Johnson

     290        11/17/17      USD     135.00        USD     (3,770 )      (22,185 ) 

Microsoft Corp.

     107        11/17/17      USD     77.50        USD     (797 )      (8,988 ) 

Pepsico, Inc.

     171        11/17/17      USD     115.00        USD     (1,905 )      (14,877 ) 

Philip Morris International, Inc.

     573        11/17/17      USD     115.00        USD     (6,361 )      (63,030 ) 

Procter & Gamble Co.

     340        11/17/17      USD     92.50        USD     (3,093 )      (28,220 ) 

U.S. Bancorp

     232        11/17/17      USD     52.50        USD     (1,243 )      (45,704 ) 

U.S. Bancorp

     319        11/17/17      USD     55.00        USD     (1,710 )      (21,852 ) 

Wells Fargo & Co.

     93        11/17/17      USD     52.50        USD     (513 )      (29,295 ) 

Wells Fargo & Co.

     533        12/15/17      USD     55.00        USD     (2,939)73       (95,940 ) 

Total

 

   $ (4,418,373 ) 
                      

 

 

  

 

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

Call

                

Ansell Ltd.

   Citibank N.A.   54,000     10/04/17       AUD       22.74       AUD       (1,206 )    $ (4,920 ) 

bpost SA

   Morgan Stanley & Co. International PLC   36,700     10/04/17       EUR       23.64       EUR       923       (66,141 ) 

Sonic Healthcare Ltd.

   UBS AG   114,800     10/04/17       AUD       22.52       AUD       (2,405 )      —  

Rogers Communications, Inc., Class B

   Deutsche Bank AG   104,000     10/05/17       CAD       64.80       CAD       (6,691 )      (27,191 ) 

AMC Entertainment Holdings, Inc.

   Citibank N.A.   85,500     10/11/17       AUD       16.18       AUD       1,304       (602 ) 

ANTA Sports Products Ltd.

   UBS AG   577,000     10/11/17       HKD       32.60       HKD       18,954       (84,683 ) 

Ansell Ltd.

   UBS AG   71,000     10/11/17       AUD       21.64       AUD       1,586       (43,369 ) 

Japan Tobacco, Inc.

   JPMorgan Chase Bank N.A.   71,700     10/11/17       JPY       3,760.43       JPY       264,397       (9,689 ) 

 

     
                    
4        BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017   

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

OTC Options Written (continued)                                            
Description   Counterparty   Number of
Contracts		   Expiration
Date		     Exercise
Price		     Notional
Amount
(000)		     Value  

Call

                

Sands China Ltd.

   Goldman Sachs International   547,600     10/11/17       HKD       35.31       HKD       22,375     $ (389,583 ) 

bpost SA

   Goldman Sachs International   25,800     10/11/17       EUR       24.13       EUR       649       (32,473 ) 

Svenska Handelsbanken AB, Class A

   Goldman Sachs International   225,200     10/17/17       SEK       116.62       SEK       27,713       (188,977 ) 

Heico Corp.

   Goldman Sachs International   32,100     10/18/17       EUR       87.70       EUR       2,687       (3,081 ) 

KONE Oyj

   Morgan Stanley & Co. International PLC   50,300     10/18/17       EUR       45.71       EUR       2,256       (21,664 ) 

Llyods Banking Group PLC

   Goldman Sachs International   2,312,500     10/18/17       GBP       0.63       GBP       1,573       (142,307 ) 

Nestle SA

   Bank of America N.A.   73,100     10/18/17       CHF       81.10       CHF       5,942       (96,585 ) 

Novan, Inc.

   Goldman Sachs International   157,900     10/18/17       CHF       80.52       CHF       13,115       (464,274 ) 

Novo Nordisk A/S

   Goldman Sachs International   61,400     10/18/17       DKK       303.49       DKK       18,587       (52,430 ) 

Taiwan Semiconductor Manufacturing Co. Ltd.

   Deutsche Bank AG   1,097,000     10/18/17       USD       218.09       USD       238,257       (64,778 ) 

Unilever PLC

   Goldman Sachs International   139,300     10/18/17       GBP       45.19       GBP       6,016       (16,743 ) 

Unilever PLC

   Goldman Sachs International   15,000     10/18/17       GBP       45.52       GBP       648       (1,196 ) 

bpost SA

   Goldman Sachs International   20,800     10/18/17       EUR       23.75       EUR       523       (36,009 ) 

AT&T

   UBS AG   109,300     10/19/17       CAD       45.38       CAD       4,905       (21,118 ) 

GlaxoSmithKline PLC

   Goldman Sachs International   383,800     10/19/17       GBP       15.15       GBP       5,726       (56,512 ) 

Heico Corp.

   Goldman Sachs International   20,670     10/19/17       EUR       84.71       EUR       1,730       (14,016 ) 

KONE Oyj

   Goldman Sachs International   40,000     10/19/17       EUR       47.03       EUR       1,794       (3,895 ) 

Llyods Banking Group PLC

   Goldman Sachs International   1,925,000     10/19/17       GBP       0.66       GBP       1,309       (48,322 ) 

AstraZeneca PLC

   Goldman Sachs International   120,000     10/24/17       GBP       48.56       GBP       5,956       (264,355 ) 

Banco Santander SA

   Goldman Sachs International   36,800     10/25/17       EUR       84.33       EUR       3,100       (51,679 ) 

Far Eastone Telecommunications Co. Ltd.

   Goldman Sachs International   330,000     10/25/17       USD       74.32       USD       23,810       (2,808 ) 

Imperial Brands PLC

   Goldman Sachs International   101,300     10/25/17       GBP       33.37       GBP       3,226       (40,593 ) 

Rogers Corp.

   Goldman Sachs International   10,800     10/25/17       CHF       244.03       CHF       2,673       (66,119 ) 

Novo Nordisk A/S

   Goldman Sachs International   50,500     10/26/17       DKK       306.12       DKK       15,287       (33,137 ) 

Rogers Communication, Inc.

   Deutsche Bank AG   57,800     10/30/17       CAD       65.34       CAD       3,719       (34,424 ) 

Banco Santander SA

   Goldman Sachs International   53,000     10/31/17       EUR       82.77       EUR       4,464       (143,478 ) 

Imperial Brands PLC

   Credit Suisse International   129,300     10/31/17       GBP       33.53       GBP       4,118       (56,459 ) 

Japan Tobacco, Inc.

   Morgan Stanley & Co. International PLC   130,000     10/31/17       JPY       3,767.35       JPY       479,382       (39,377 ) 

KONE Oyj

   Morgan Stanley & Co. International PLC   35,500     10/31/17       EUR       48.53       EUR       1,592       (1,660 ) 

SGS SA, Registered Shares

   Morgan Stanley & Co. International PLC   1,200     10/31/17       CHF       2,305.20       CHF       2,790       (67,359 ) 

bpost SA

   Morgan Stanley & Co. International PLC   20,800     10/31/17       EUR       24.67       EUR       523       (16,437 ) 

Digital Power Corp.

   Goldman Sachs International   115,300     11/01/17       EUR       37.04       EUR       4,348       (156,409 ) 

Citizens Financial Group, Inc.

   Barclays Bank PLC   71,300     11/02/17       USD       33.89       USD       2,700       (288,327 ) 

Digital Power Corp.

   Goldman Sachs International   147,200     11/02/17       EUR       36.81       EUR       5,551       (237,688 ) 

bpost SA

   Goldman Sachs International   16,000     11/07/17       EUR       24.78       EUR       403       (12,149 ) 

AT&T

   Citibank N.A.   81,300     11/08/17       CAD       45.26       CAD       3,649       (32,330 ) 

Givaudan SA

   Credit Suisse International   1,700     11/08/17       CHF       2,046.25       CHF       3,584       (140,997 ) 

Imperial Brands PLC

   Bank of America N.A.   129,300     11/08/17       GBP       33.01       GBP       4,118       (88,214 ) 

Nestle SA

   Goldman Sachs International   60,000     11/08/17       CHF       81.93       CHF       4,877       (70,509 ) 

Sonic Healthcare Ltd.

   UBS AG   71,200     11/08/17       AUD       22.10       AUD       1,492       (6,615 ) 

AMC Entertainment Holdings, Inc.

   Deutsche Bank AG   240,000     11/09/17       AUD       15.52       AUD       3,660       (51,233 ) 

ANTA Sports Products Ltd.

   Morgan Stanley & Co. International PLC   482,000     11/09/17       HKD       34.55       HKD       15,834       (65,106 ) 

 

     
                
       BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017    5

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

OTC Options Written (continued)                                        
Description   Counterparty   Number of
Contracts		   Expiration
Date		     Exercise
Price		     Notional
Amount
(000)		     Value  

Call

 

British American Tobacco PLC

   UBS AG   135,800     11/09/17     GBP     47.74     GBP     6,345     $ (139,074 ) 

Diageo PLC

   Goldman Sachs International   103,600     11/09/17     GBP     26.19     GBP     2,542       (10,285 ) 

Givaudan SA

   Goldman Sachs International   1,500     11/09/17     CHF     2,071.31     CHF     3,162       (95,557 ) 

KONE Oyj

   UBS AG   40,000     11/09/17     EUR     46.78     EUR     1,794       (24,657 ) 

SGS SA, Registered Shares

   Goldman Sachs International   1,000     11/09/17     CHF     2,273.31     CHF     2,325       (78,921 ) 

Svenska Handelsbanken AB, Class A

   Goldman Sachs International   187,000     11/09/17     SEK     117.50     SEK     23,012       (144,570 ) 

bpost SA

   Goldman Sachs International   16,000     11/09/17     EUR     24.78     EUR     403       (12,339 ) 

Anheuser-Busch InBev SA

   Credit Suisse International   33,300     11/10/17     EUR     99.92     EUR     3,368       (136,913 ) 

Citizens Financial Group, Inc.

   Barclays Bank PLC   59,500     11/10/17     USD     38.05     USD     2,253       (60,284 ) 

AstraZeneca PLC

   Goldman Sachs International   90,100     11/15/17     GBP     49.78     GBP     4,472       (171,669 ) 

British American Tobacco PLC

   UBS AG   135,800     11/15/17     GBP     47.74     GBP     6,345       (149,334 ) 

Diageo PLC

   Morgan Stanley & Co. International PLC   99,300     11/15/17     GBP     24.51     GBP     2,437       (81,047 ) 

bpost SA

   HSBC Bank PLC   26,000     11/15/17     EUR     25.65     EUR     654       (7,728 ) 

Ansell Ltd.

   Deutsche Bank AG   62,500     11/16/17     AUD     22.66     AUD     1,396       (30,685 ) 

Banco Santander SA

   Goldman Sachs International   52,800     11/16/17     EUR     84.86     EUR     4,447       (93,656 ) 

Far Eastone Telecommunications Co. Ltd.

   JPMorgan Chase Bank N.A.   374,000     11/16/17     USD     73.18     USD     26,984       (9,859 ) 

Japan Tobacco, Inc.

   Morgan Stanley & Co. International PLC   100,900     11/16/17     JPY     3,773.54     JPY     372,074       (41,350 ) 

Japan Tobacco, Inc.

   UBS AG   11,300     11/16/17     JPY     3,729.45     JPY     41,669       (6,208 ) 

Rogers Corp.

   Morgan Stanley & Co. International PLC   20,000     11/16/17     CHF     251.74     CHF     4,951       (67,521 ) 

Sands China Ltd.

   JPMorgan Chase Bank N.A.   456,400     11/16/17     HKD     40.21     HKD     18,649       (111,485 ) 

Sonic Healthcare Ltd.

   Deutsche Bank AG   137,600     11/16/17     AUD     21.85     AUD     2,883       (22,622 ) 

Rogers Communication, Inc.

   Morgan Stanley & Co. International PLC   80,000     11/20/17     CAD     64.86     CAD     5,147       (79,739 ) 

Ansell Ltd.

   Deutsche Bank AG   62,500     11/30/17     AUD     22.96     AUD     1,396       (26,773 ) 

Anheuser-Busch InBev SA

   Goldman Sachs International   7,900     12/01/17     EUR     104.22     EUR     799       (14,939 ) 

Total

 

   $ (5,475,235 ) 
 

 

 

  

 

     
                    
6        BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017   

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

 

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 price quotations in active markets/exchanges for identical assets or liabilities that the 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 the 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

    —        $ 29,196,129          —     $ 29,196,129  

Belgium

    —          22,178,648          —       22,178,648  

Canada

  $ 55,551,863          —          —       55,551,863  

China

    10,113,709          —          —       10,113,709  

Denmark

    —          12,232,863          —       12,232,863  

Finland

    —          19,980,419          —       19,980,419  

France

    —          32,259,678          —       32,259,678  

Germany

    —          26,593,819          —       26,593,819  

Hong Kong

    —          11,935,087          —       11,935,087  

Japan

    —          23,375,512          —       23,375,512  

Netherlands

    —          11,876,474          —       11,876,474  

Sweden

    —          14,157,006          —       14,157,006  

Switzerland

    —          102,162,012          —       102,162,012  

Taiwan

    —          25,716,746          —       25,716,746  

United Kingdom

    —          161,500,669          —       161,500,669  

United States

    414,915,701          —        $ 3,955,884       418,871,585  

Preferred Stocks

    —          —          16,178,156       16,178,156  

Short-Term Securities

    6,787,805          —          —       6,787,805  
 

 

 

  

Total

   $ 487,369,078        $ 493,165,062        $ 20,134,040     $ 1,000,668,180  
 

 

 

  
Derivative Financial Instruments1              

Liabilities:

             

Equity contracts

    (3,661,355 )         (6,232,253 )         —       (9,893,608 ) 
 

 

 

  

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

     

 

     
                
       BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017    7

Schedule of Investments (continued)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

Transfers between Level 1 and Level 2 were as follow:

 

    

Transfers into

Level 1

       

Transfers out of

Level 11

       

Transfers into

Level 21

    

Transfers out of

Level 2

  

Assets:

             
Long-Term Investments:              
Common Stocks     —        $ (16,689,746 )       $ 16,689,746       —  
 

 

 

  

1    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.

     

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, 2016

   $ 4,421,995     $ 24,994,450     $ 29,416,445  

Transfers into Level 3

     —       —       —  

Transfers out of Level 3

     —       —       —  

Accrued discounts/premiums

     —       —       —  

Net realized gain (loss)

     —       —       —  

Net change in unrealized appreciation (depreciation)1

     (466,111 )      (8,816,294 )      (9,282,405 ) 

Purchases

     —       —       —  

Sales

     —       —       —  
 

 

 

  

Closing Balance, as of September 30, 2017

   $ 3,955,884     $ 16,178,156     $ 20,134,040  
 

 

 

  

Net change in unrealized appreciation (depreciation) on investments still held at September 30, 20171

   $ (466,111 )    $ (8,816,294 )    $ (9,282,405 ) 
 

 

 

  

1    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, 2017 is generally due to derivative financial instruments no longer held or categorized as Level 3 at period end.

     

 

     
                    
8        BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017   

Schedule of Investments (concluded)

   

BlackRock Enhanced Global Dividend Trust (BOE)

 

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 Trust’s Level 3 investments as of period end.

 

     Value        Valuation Approaches      Unobservable Inputs      Range of
unobservable Inputs
Utilized		     

Weighted

Average of

Unobservable
Inputs

Assets:

                      

Common Stocks

   $ 3,955,884        Market      Tangible Book Value Multiple1      1.75x      —

Preferred Stocks

     16,178,156        Market      Revenue Multiple1      11.50x — 12.25x      12.10x
            Revenue Growth Rate1      39%      —
            Time to Exit2      1 year      —
            Volatility1      30%      —
 

 

 

Total

   $ 20,134,040                      
 

 

 

                      

1    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.

2    Decrease in unobservable input may result in a significant increase to value, while an increase in the unobservable input may result in a significant decrease to value.

 

     
                
       BLACKROCK ENHANCED GLOBAL DIVIDEND TRUST    SEPTEMBER 30, 2017    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 (Formerly Blackrock Global Opportunities Equity Trust)

 

By:   /s/ John M. Perlowski                    
  John M. Perlowski
  Chief Executive Officer (principal executive officer) of
  BlackRock Enhanced Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust)
Date: November 20, 2017

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 (Formerly Blackrock Global Opportunities Equity Trust)
Date: November 20, 2017
By:   /s/ Neal J. Andrews                       
  Neal J. Andrews
  Chief Financial Officer (principal financial officer) of
  BlackRock Enhanced Global Dividend Trust (Formerly Blackrock Global Opportunities Equity Trust)
Date: November 20, 2017