- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
May 27 2009 - 12:14PM
Edgar (US Regulatory)
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)
|
|
Registrants
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 Funds 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 Funds
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
Funds 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 Funds 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 Funds 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 Funds 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 registrants
principal executive officer and principal financial officer have concluded that
the registrants 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 registrants 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 registrants 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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