n-qglobaldivopp
OMB APPROVAL 

OMB Number: 3235-0578 
Expires: May 31, 2007 
   
Estimated average
 
burden hours per 
response: 21.09 

 



 

 

 

 

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
SCHEDULE OF INVESTMENTS

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
SCHEDULE OF INVESTMENTS continued

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
SCHEDULE OF INVESTMENTS continued

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
SCHEDULE OF INVESTMENTS continued

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.

 
Item 3 - Exhibits

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 

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:    ______________________________
         Dennis H. Ferro, 
         Principal Executive Officer 
     
Date:
  March 30, 2008 


By:   ______________________________

         Kasey Phillips 
        Principal Financial Officer 
    
Date:
  March 30, 2008