- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)

Date : 05/27/2009 @ 5:14PM
Source : Edgar (US Regulatory)
Stock : Cohen and Steers Closed End Opportunity Fund Inc (FOF)
Quote : 12.5384  -0.3516 (-2.73%) @ 1:00AM

- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)

 

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

811-21948

 

 

Cohen & Steers Closed-End Opportunity Fund, Inc.

(Exact name of registrant as specified in charter)

 

280 Park Avenue

New York, NY

 

10017

(Address of principal executive offices)

 

(Zip code)

 

Francis C. Poli

280 Park Avenue

New York, NY 10017

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(212) 832-3232

 

 

Date of fiscal year end:

December 31

 

 

 

 

Date of reporting period:

March 31, 2009

 

 



 

Item 1. Schedule of Investments

 



 

COHEN & STEERS CLOSED-END OPPORTUNITY FUND, INC.

 

SCHEDULE OF INVESTMENTS
March 31, 2009 (Unaudited)

 

 

 

Number

 

 

 

 

 

of Shares

 

Value

 

CLOSED-END FUNDS 90.4%

 

 

 

 

 

COMMODITIES 0.9%

 

 

 

 

 

Central Fund of Canada Ltd.

 

104,000

 

$

1,239,680

 

DWS Global Commodities Stock Fund

 

178,437

 

1,018,875

 

 

 

 

 

2,258,555

 

CONVERTIBLE 4.7%

 

 

 

 

 

Advent Claymore Convertible Securities and Income Fund

 

378,518

 

3,754,898

 

Advent Claymore Global Convertible Securities & Income Fund

 

36,308

 

178,998

 

Calamos Convertible and High Income Fund

 

159,544

 

1,300,284

 

Calamos Convertible Opportunities & Income Fund

 

106,200

 

916,506

 

Nicholas-Applegate Convertible & Income Fund

 

351,900

 

1,643,373

 

Nicholas-Applegate Convertible & Income Fund II

 

820,304

 

3,404,262

 

 

 

 

 

11,198,321

 

COVERED CALL 15.3%

 

 

 

 

 

Eaton Vance Enhanced Equity Income Fund

 

166,726

 

1,710,609

 

Eaton Vance Enhanced Equity Income Fund II

 

497,158

 

4,862,205

 

Eaton Vance Tax-Managed Buy-Write Income Fund

 

219,493

 

2,495,635

 

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

 

680,506

 

7,179,338

 

Eaton Vance Tax-Managed Global Buy-Write Opportunities Fund

 

951,365

 

8,952,345

 

ING Global Advantage and Premium Opportunity Fund

 

342,900

 

4,001,643

 

ING Risk Managed Natural Resources Fund

 

109,700

 

1,505,084

 

NFJ Dividend Interest & Premium Strategy Fund

 

369,400

 

3,694,000

 

Nuveen Equity Premium Advantage Fund

 

245,600

 

2,426,528

 

 

 

 

 

36,827,387

 

EMERGING MARKETS DEBT 1.7%

 

 

 

 

 

Morgan Stanley Emerging Markets Domestic Debt Fund

 

232,200

 

2,108,376

 

Western Asset Emerging Markets Debt Fund

 

73,400

 

866,120

 

Western Asset Emerging Markets Income Fund II

 

125,300

 

1,011,171

 

 

 

 

 

3,985,667

 

ENERGY/RESOURCES 2.6%

 

 

 

 

 

BlackRock Global Energy and Resources Trust

 

200,300

 

3,064,590

 

 

1



 

 

 

Number

 

 

 

 

 

of Shares

 

Value

 

BlackRock Real Asset Equity Trust

 

453,700

 

$

3,203,122

 

 

 

 

 

6,267,712

 

EQUITY TAX-ADVANTAGED 14.6%

 

 

 

 

 

Eaton Vance Tax-Advantaged Dividend Income Fund

 

491,500

 

4,384,180

 

Eaton Vance Tax-Advantaged Global Dividend Income Fund

 

444,600

 

3,561,246

 

Eaton Vance Tax-Advantaged Global Dividend Opportunities Fund

 

103,500

 

1,150,920

 

Eaton Vance Tax-Managed Diversified Equity Income Fund

 

1,154,217

 

11,265,158

 

Eaton Vance Tax-Managed Global Diversified Equity Income Fund

 

985,262

 

8,473,253

 

Gabelli Dividend & Income Trust

 

710,794

 

5,935,130

 

Neuberger Berman Dividend Advantage Fund

 

43,100

 

216,793

 

 

 

 

 

34,986,680

 

GLOBAL EQUITY 1.4%

 

 

 

 

 

Clough Global Equity Fund

 

225,500

 

2,203,135

 

Gabelli Global Deal Fund

 

92,400

 

1,144,836

 

 

 

 

 

3,347,971

 

GLOBAL EQUITY DIVIDEND 3.9%

 

 

 

 

 

Alpine Total Dynamic Dividend Fund

 

444,500

 

2,551,430

 

Evergreen Global Dividend Opportunity Fund

 

567,699

 

4,575,654

 

ING Global Equity Dividend and Premium Opportunity Fund

 

241,744

 

2,228,880

 

 

 

 

 

9,355,964

 

GLOBAL HYBRID (GROWTH & INCOME) 4.7%

 

 

 

 

 

Clough Global Allocation Fund

 

22,900

 

244,572

 

Clough Global Opportunities Fund

 

693,700

 

6,382,040

 

First Trust Aberdeen Emerging Opportunity Fund

 

37,500

 

400,500

 

LMP Capital and Income Fund

 

477,059

 

3,320,331

 

Nuveen Diversified Dividend and Income Fund

 

198,451

 

1,059,728

 

 

 

 

 

11,407,171

 

GLOBAL INCOME 6.4%

 

 

 

 

 

AllianceBernstein Income Fund

 

875,800

 

6,253,212

 

First Trust Aberdeen Global Opportunity Income Fund

 

79,600

 

831,024

 

 

2



 

 

 

Number

 

 

 

 

 

of Shares

 

Value

 

MFS Intermediate Income Trust

 

245,300

 

$

1,542,937

 

MFS Multimarket Income Trust

 

294,400

 

1,507,328

 

Nuveen Multi-Currency Short-Term Government Income Fund

 

93,800

 

1,180,942

 

Putnam Premier Income Trust

 

284,600

 

1,206,704

 

Templeton Global Income Fund

 

258,900

 

1,923,627

 

Western Asset Global High Income Fund

 

130,700

 

905,751

 

 

 

 

 

15,351,525

 

GOVERNMENT 1.4%

 

 

 

 

 

Western Asset/Claymore Inflation-Linked Opportunities & Income Fund

 

312,675

 

3,355,003

 

HEALTH/BIOTECH 3.4%

 

 

 

 

 

BlackRock Health Sciences Trust

 

200,900

 

3,762,857

 

Finsbury Worldwide Pharmaceutical (United Kingdom)(a)

 

56,300

 

443,655

 

H&Q Healthcare Investors

 

216,400

 

2,179,148

 

H&Q Life Sciences Investors

 

219,600

 

1,712,880

 

 

 

 

 

8,098,540

 

HIGH YIELD 5.6%

 

 

 

 

 

BlackRock Corporate High Yield Fund

 

234,100

 

955,128

 

BlackRock Corporate High Yield Fund III

 

148,100

 

577,590

 

BlackRock Corporate High Yield Fund V

 

125,600

 

813,888

 

BlackRock Corporate High Yield Fund VI

 

326,600

 

2,126,166

 

BlackRock Debt Strategies Fund

 

387,200

 

774,400

 

Evergreen Income Advantage Fund

 

134,300

 

835,346

 

New America High Income Fund

 

162,500

 

825,500

 

Pioneer High Income Trust

 

454,677

 

3,651,056

 

Western Asset High Income Fund II

 

227,374

 

1,246,010

 

Western Asset High Income Opportunities Fund

 

367,900

 

1,530,464

 

 

 

 

 

13,335,548

 

INVESTMENT GRADE 0.2%

 

 

 

 

 

Duff & Phelps Utility and Corporate Bond Trust

 

47,600

 

538,832

 

LIMITED DURATION 5.8%

 

 

 

 

 

BlackRock Limited Duration Income Trust

 

371,998

 

4,564,416

 

 

3



 

 

 

Number

 

 

 

 

 

of Shares

 

Value

 

Eaton Vance Limited Duration Income Fund

 

550,683

 

$

5,787,678

 

Eaton Vance Short Duration Diversified Income Fund

 

81,900

 

1,022,112

 

Evergreen Multi-Sector Income Fund

 

172,800

 

1,786,752

 

Franklin Templeton Limited Duration Income Trust

 

94,100

 

839,372

 

 

 

 

 

14,000,330

 

MASTER LIMITED PARTNERSHIP 1.1%

 

 

 

 

 

Energy Income and Growth Fund

 

69,700

 

1,270,631

 

Fiduciary/Claymore MLP Opportunity Fund

 

49,661

 

665,457

 

MLP & Strategic Equity Fund

 

69,700

 

710,940

 

 

 

 

 

2,647,028

 

NATIONAL MUNICIPAL 0.4%

 

 

 

 

 

Alliance National Municipal Income Fund

 

35,100

 

398,034

 

Putnam Managed Municipal Income Trust

 

89,100

 

486,486

 

 

 

 

 

884,520

 

OTHER NON-US EQUITY 0.4%

 

 

 

 

 

ING Asia Pacific High Dividend Equity Income

 

31,893

 

377,932

 

Swiss Helvetia Fund

 

75,700

 

672,973

 

 

 

 

 

1,050,905

 

PREFERRED 3.7%

 

 

 

 

 

Flaherty & Crumrine/Claymore Preferred Securities Income Fund

 

233,800

 

1,496,320

 

Flaherty & Crumrine/Claymore Total Return Fund

 

104,900

 

702,830

 

John Hancock Patriot Premium Dividend Fund II

 

268,900

 

1,699,448

 

John Hancock Preferred Income Fund

 

150,465

 

1,590,415

 

John Hancock Preferred Income Fund II

 

163,079

 

1,746,576

 

John Hancock Preferred Income Fund III

 

191,829

 

1,697,687

 

 

 

 

 

8,933,276

 

REAL ESTATE 2.3%

 

 

 

 

 

Alpine Global Premier Properties Fund

 

412,253

 

1,212,024

 

DWS RREEF Real Estate Fund

 

313,247

 

479,268

 

DWS RREEF Real Estate Fund II

 

500,800

 

215,344

 

ING Clarion Global Real Estate Income Fund

 

831,713

 

2,636,530

 

 

4



 

 

 

Number

 

 

 

 

 

of Shares

 

Value

 

Nuveen Real Estate Income Fund

 

275,525

 

$

989,135

 

 

 

 

 

5,532,301

 

SENIOR LOAN 0.6%

 

 

 

 

 

BlackRock Floating Rate Income Strategies Fund II

 

53,900

 

431,739

 

Eaton Vance Senior Floating-Rate Trust

 

71,500

 

597,025

 

First Trust/Four Corners Senior Floating Rate Income Fund II

 

44,104

 

355,037

 

 

 

 

 

1,383,801

 

US GENERAL EQUITY 4.5%

 

 

 

 

 

General American Investors Co.

 

125,200

 

1,921,820

 

Liberty All-Star Equity Fund

 

324,986

 

952,209

 

Nasdaq Premium Income & Growth Fund

 

293,000

 

2,815,730

 

SunAmerica Focused Alpha Growth Fund

 

572,500

 

5,100,975

 

 

 

 

 

10,790,734

 

US HYBRID (GROWTH & INCOME) 3.1%

 

 

 

 

 

BlackRock Preferred and Equity Advantage Trust

 

77,718

 

491,955

 

Calamos Strategic Total Return Fund

 

1,106,300

 

6,294,847

 

Nicholas-Applegate Equity & Convertible Income Fund

 

67,800

 

732,240

 

 

 

 

 

7,519,042

 

UTILITY 1.7%

 

 

 

 

 

Evergreen Utilities and High Income Fund

 

199,108

 

1,875,597

 

Macquarie Global Infrastructure Total Return Fund

 

122,380

 

1,150,372

 

Reaves Utility Income Trust

 

92,200

 

993,916

 

 

 

 

 

4,019,885

 

TOTAL CLOSED-END FUNDS

 

 

 

 

 

(Identified cost—$398,483,646)

 

 

 

217,076,698

 

SHORT-TERM INVESTMENTS 10.0%

 

 

 

 

 

MONEY MARKET FUNDS

 

 

 

 

 

Dreyfus Treasury Cash Management Fund, 0.09%(b)

 

10,457,235

 

10,457,235

 

 

5



 

 

 

 

 

Number

 

 

 

 

 

 

 

of Shares

 

Value

 

Federated U.S. Treasury Cash Reserves Fund, 0.01%(6)

 

 

 

7,400,612

 

$

7,400,612

 

Fidelity Institutional Money Market Treasury Only Fund, 0.26%(b)

 

 

 

6,261,432

 

6,261,432

 

TOTAL SHORT-TERM INVESTMENTS

 

 

 

 

 

 

 

(Identified cost—$24,119,279)

 

 

 

 

 

24,119,279

 

TOTAL INVESTMENTS (Identified cost—$422,602,925)

 

100.4

%

 

 

241,195,977

 

 

 

 

 

 

 

 

 

LIABILITIES IN EXCESS OF OTHER ASSETS

 

(0.4

)%

 

 

(1,049,721

)

 

 

 

 

 

 

 

 

NET ASSETS (Equivalent to $8.77 per share based on 27,372,938 shares of common stock outstanding)

 

100.0

%

 

 

$

240,146,256

 

 


Note: Percentages indicated are based on the net assets of the Fund.

(a)      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 0.2% of net assets of the Fund, all of which have been fair valued pursuant to foreign security fair value pricing procedures approved by the Board of Directors.

(b)     Rate quoted represents the seven day yield of the fund.

 

6



 

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.

 

Securities not listed on the New York Stock Exchange but listed on other domestic or foreign securities exchanges or admitted to trading on the National Association of Securities Dealers Automated Quotations, Inc. (Nasdaq) national market system 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.

 

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, but excluding securities admitted to trading on the Nasdaq National List, are valued at the official closing prices as reported by Nasdaq, the Pink Sheets, or such other comparable 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. Where securities are traded on more than one exchange and also over-the-counter, the securities will generally be valued using the quotations the Board of Directors believes most closely reflect the value of such securities.

 

Portfolio securities primarily traded on foreign markets are generally valued at the closing values of such securities on their respective exchanges or if after the close of the foreign markets, 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.

 

Securities for which market prices are unavailable, or securities for which the investment manager determines that bid and/or asked price 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 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 materially different than the value that could be realized upon the sale of that security.

 

Short-term debt securities, which have a maturity date of 60 days or less, are valued at amortized cost, which approximates value.

 

The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“FAS 157”), effective January 1, 2008. In accordance with FAS 157, 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. FAS 157 establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Fund’s investments, and requires additional disclosure about fair value. The hierarchy of inputs 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, prepayment speeds, 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, 2009 in valuing the Fund’s investments carried at value:

 

 

 

 

 

Fair Value Measurements at March 31, 2009 Using

 

 

 

 

 

Quoted Prices In

 

Significant

 

Significant

 

 

 

 

 

Active Market for

 

Other Observable

 

Unobservable

 

 

 

 

 

Identical Assets

 

Inputs

 

Inputs

 

 

 

Total

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

Investments in Securities

 

$

241,195,977

 

$

216,633,043

 

$

24,562,934

 

$

 

 



 

Note 2. Income Tax Information

 

As of March 31, 2009, the federal tax cost and net unrealized depreciation were as follows:

 

Gross unrealized appreciation

 

$

1,008,942

 

Gross unrealized depreciation

 

(182,415,890

)

Net unrealized depreciation

 

$

(181,406,948

)

 

 

 

 

Cost for federal income tax purposes

 

$

422,602,925

 

 



 

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 CLOSED-END OPPORTUNITY FUND, INC.

 

 

By:

/s/ Adam M. Derechin

 

 

Name: Adam M. Derechin

 

 

Title: President

 

 

Date: May 27, 2009

 

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, 2009

 

 

 

 


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