UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-21676
Investment Company Act File Number
Eaton Vance Tax-Managed
Buy-Write Income Fund
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrants Telephone Number, Including Area Code)
December 31
Date of Fiscal Year End
September 30, 2013
Date of Reporting Period
Item 1. Schedule of Investments
Eaton Vance
Tax-Managed Buy-Write Income Fund
September 30, 2013
PORTFOLIO OF INVESTMENTS (Unaudited)
Common Stocks 100.5%
Security | Shares | Value | ||||||
Aerospace & Defense 3.5% |
||||||||
Boeing Co. (The) |
26,422 | $ | 3,104,585 | |||||
Honeywell International, Inc. |
43,642 | 3,624,032 | ||||||
Northrop Grumman Corp. |
21,600 | 2,057,616 | ||||||
Textron, Inc. |
11,648 | 321,601 | ||||||
United Technologies Corp. |
39,766 | 4,287,570 | ||||||
|
|
|||||||
$ | 13,395,404 | |||||||
|
|
|||||||
Air Freight & Logistics 0.7% |
||||||||
C.H. Robinson Worldwide, Inc. |
5,324 | $ | 317,097 | |||||
United Parcel Service, Inc., Class B |
25,904 | 2,366,849 | ||||||
|
|
|||||||
$ | 2,683,946 | |||||||
|
|
|||||||
Airlines 0.1% |
||||||||
Southwest Airlines Co. |
36,616 | $ | 533,129 | |||||
|
|
|||||||
$ | 533,129 | |||||||
|
|
|||||||
Auto Components 0.8% |
||||||||
Dana Holding Corp. |
31,658 | $ | 723,069 | |||||
Goodyear Tire & Rubber Co. (The)(1) |
10,898 | 244,660 | ||||||
Johnson Controls, Inc. |
36,367 | 1,509,230 | ||||||
Lear Corp. |
7,250 | 518,883 | ||||||
|
|
|||||||
$ | 2,995,842 | |||||||
|
|
|||||||
Automobiles 0.3% |
||||||||
Ford Motor Co. |
76,877 | $ | 1,296,915 | |||||
|
|
|||||||
$ | 1,296,915 | |||||||
|
|
|||||||
Beverages 2.5% |
||||||||
Coca-Cola Co. (The) |
149,622 | $ | 5,667,681 | |||||
PepsiCo, Inc. |
49,269 | 3,916,886 | ||||||
|
|
|||||||
$ | 9,584,567 | |||||||
|
|
|||||||
Biotechnology 2.5% |
||||||||
Amgen, Inc. |
18,988 | $ | 2,125,517 | |||||
Biogen Idec, Inc.(1) |
3,000 | 722,280 | ||||||
Celgene Corp.(1) |
24,053 | 3,702,478 | ||||||
Elan Corp. PLC ADR(1) |
17,123 | 266,776 | ||||||
Gilead Sciences, Inc.(1) |
44,082 | 2,770,113 | ||||||
Vertex Pharmaceuticals, Inc.(1) |
1,850 | 140,267 | ||||||
|
|
|||||||
$ | 9,727,431 | |||||||
|
|
|||||||
Capital Markets 1.3% |
||||||||
Greenhill & Co., Inc. |
14,014 | $ | 699,018 | |||||
Invesco, Ltd. |
38,480 | 1,227,512 | ||||||
Lazard, Ltd., Class A |
21,525 | 775,330 | ||||||
Legg Mason, Inc. |
7,629 | 255,114 | ||||||
State Street Corp. |
27,413 | 1,802,405 | ||||||
Walter Investment Management Corp.(1) |
7,355 | 290,817 | ||||||
|
|
|||||||
$ | 5,050,196 | |||||||
|
|
|||||||
Chemicals 2.1% |
||||||||
CF Industries Holdings, Inc. |
3,459 | $ | 729,261 | |||||
Dow Chemical Co. (The) |
64,146 | 2,463,206 |
1
Security | Shares | Value | ||||||
E.I. du Pont de Nemours & Co. |
46,387 | $ | 2,716,423 | |||||
Eastman Chemical Co. |
3,608 | 281,063 | ||||||
Sherwin-Williams Co. (The) |
9,183 | 1,672,959 | ||||||
|
|
|||||||
$ | 7,862,912 | |||||||
|
|
|||||||
Commercial Banks 3.5% |
||||||||
BankUnited, Inc. |
10,483 | $ | 326,965 | |||||
BB&T Corp. |
51,539 | 1,739,441 | ||||||
Fifth Third Bancorp |
62,268 | 1,123,314 | ||||||
KeyCorp |
85,122 | 970,391 | ||||||
M&T Bank Corp. |
6,860 | 767,771 | ||||||
PNC Financial Services Group, Inc. (The) |
22,704 | 1,644,905 | ||||||
SunTrust Banks, Inc. |
5,538 | 179,542 | ||||||
Wells Fargo & Co. |
164,065 | 6,779,166 | ||||||
|
|
|||||||
$ | 13,531,495 | |||||||
|
|
|||||||
Commercial Services & Supplies 0.4% |
||||||||
Waste Management, Inc. |
37,595 | $ | 1,550,418 | |||||
|
|
|||||||
$ | 1,550,418 | |||||||
|
|
|||||||
Communications Equipment 2.7% |
||||||||
Brocade Communications Systems, Inc.(1) |
42,403 | $ | 341,344 | |||||
Cisco Systems, Inc. |
217,812 | 5,101,157 | ||||||
QUALCOMM, Inc. |
71,089 | 4,788,555 | ||||||
|
|
|||||||
$ | 10,231,056 | |||||||
|
|
|||||||
Computers & Peripherals 3.3% |
||||||||
Apple, Inc. |
26,400 | $ | 12,586,200 | |||||
|
|
|||||||
$ | 12,586,200 | |||||||
|
|
|||||||
Construction & Engineering 0.6% |
||||||||
Fluor Corp. |
31,701 | $ | 2,249,503 | |||||
|
|
|||||||
$ | 2,249,503 | |||||||
|
|
|||||||
Consumer Finance 1.4% |
||||||||
American Express Co. |
41,979 | $ | 3,170,254 | |||||
Discover Financial Services |
40,754 | 2,059,707 | ||||||
|
|
|||||||
$ | 5,229,961 | |||||||
|
|
|||||||
Containers & Packaging 0.4% |
||||||||
Avery Dennison Corp. |
15,307 | $ | 666,161 | |||||
MeadWestvaco Corp. |
21,446 | 823,097 | ||||||
|
|
|||||||
$ | 1,489,258 | |||||||
|
|
|||||||
Distributors 0.6% |
||||||||
Genuine Parts Co. |
27,494 | $ | 2,223,990 | |||||
|
|
|||||||
$ | 2,223,990 | |||||||
|
|
|||||||
Diversified Financial Services 5.4% |
||||||||
Bank of America Corp. |
147,580 | $ | 2,036,604 | |||||
Berkshire Hathaway, Inc., Class B(1) |
31,337 | 3,557,063 | ||||||
Citigroup, Inc. |
117,636 | 5,706,523 | ||||||
CME Group, Inc. |
14,875 | 1,098,965 | ||||||
JPMorgan Chase & Co. |
113,958 | 5,890,489 | ||||||
McGraw Hill Financial, Inc. |
37,804 | 2,479,564 | ||||||
|
|
|||||||
$ | 20,769,208 | |||||||
|
|
|||||||
Diversified Telecommunication Services 2.5% |
||||||||
AT&T, Inc. |
190,600 | $ | 6,446,092 | |||||
Frontier Communications Corp. |
67,026 | 279,498 | ||||||
Verizon Communications, Inc. |
52,772 | 2,462,342 | ||||||
Windstream Holdings, Inc. |
28,197 | 225,576 | ||||||
|
|
|||||||
$ | 9,413,508 | |||||||
|
|
2
Security | Shares | Value | ||||||
Electric Utilities 0.9% |
||||||||
Duke Energy Corp. |
28,786 | $ | 1,922,329 | |||||
Edison International |
20,090 | 925,345 | ||||||
Pinnacle West Capital Corp. |
7,168 | 392,376 | ||||||
Xcel Energy, Inc. |
12,009 | 331,569 | ||||||
|
|
|||||||
$ | 3,571,619 | |||||||
|
|
|||||||
Electrical Equipment 0.8% |
||||||||
Emerson Electric Co. |
49,204 | $ | 3,183,499 | |||||
|
|
|||||||
$ | 3,183,499 | |||||||
|
|
|||||||
Electronic Equipment, Instruments & Components 0.1% |
||||||||
Molex, Inc. |
13,181 | $ | 507,732 | |||||
|
|
|||||||
$ | 507,732 | |||||||
|
|
|||||||
Energy Equipment & Services 2.0% |
||||||||
Halliburton Co. |
62,164 | $ | 2,993,197 | |||||
Schlumberger, Ltd. |
51,953 | 4,590,567 | ||||||
|
|
|||||||
$ | 7,583,764 | |||||||
|
|
|||||||
Food & Staples Retailing 2.1% |
||||||||
CVS Caremark Corp. |
60,482 | $ | 3,432,353 | |||||
Wal-Mart Stores, Inc. |
64,853 | 4,796,528 | ||||||
|
|
|||||||
$ | 8,228,881 | |||||||
|
|
|||||||
Food Products 1.7% |
||||||||
ConAgra Foods, Inc. |
9,993 | $ | 303,188 | |||||
Green Mountain Coffee Roasters, Inc.(1) |
15,366 | 1,157,521 | ||||||
Kellogg Co. |
28,284 | 1,661,119 | ||||||
Kraft Foods Group, Inc. |
18,114 | 949,898 | ||||||
Mondelez International, Inc., Class A |
54,344 | 1,707,488 | ||||||
Tyson Foods, Inc., Class A |
28,696 | 811,523 | ||||||
|
|
|||||||
$ | 6,590,737 | |||||||
|
|
|||||||
Health Care Equipment & Supplies 2.8% |
||||||||
Abbott Laboratories |
73,588 | $ | 2,442,386 | |||||
Baxter International, Inc. |
41,401 | 2,719,632 | ||||||
Covidien PLC |
11,380 | 693,497 | ||||||
Medtronic, Inc. |
41,406 | 2,204,869 | ||||||
Stryker Corp. |
31,125 | 2,103,739 | ||||||
Zimmer Holdings, Inc. |
5,294 | 434,849 | ||||||
|
|
|||||||
$ | 10,598,972 | |||||||
|
|
|||||||
Health Care Providers & Services 1.3% |
||||||||
DaVita HealthCare Partners, Inc.(1) |
5,790 | $ | 329,451 | |||||
Express Scripts Holding Co.(1) |
8,616 | 532,296 | ||||||
HCA Holdings, Inc. |
8,034 | 343,454 | ||||||
UnitedHealth Group, Inc. |
49,739 | 3,561,810 | ||||||
VCA Antech, Inc.(1) |
11,050 | 303,433 | ||||||
|
|
|||||||
$ | 5,070,444 | |||||||
|
|
|||||||
Hotels, Restaurants & Leisure 1.3% |
||||||||
Marriott International, Inc., Class A |
20,645 | $ | 868,329 | |||||
Marriott Vacations Worldwide Corp.(1) |
2,064 | 90,816 | ||||||
McDonalds Corp. |
36,654 | 3,526,481 | ||||||
Wyndham Worldwide Corp. |
11,235 | 684,998 | ||||||
|
|
|||||||
$ | 5,170,624 | |||||||
|
|
|||||||
Household Durables 0.8% |
||||||||
Leggett & Platt, Inc. |
11,383 | $ | 343,197 | |||||
Lennar Corp., Class A |
18,642 | 659,927 | ||||||
Newell Rubbermaid, Inc. |
76,798 | 2,111,945 | ||||||
|
|
|||||||
$ | 3,115,069 | |||||||
|
|
3
Security | Shares | Value | ||||||
Household Products 1.9% |
||||||||
Clorox Co. (The) |
6,843 | $ | 559,210 | |||||
Kimberly-Clark Corp. |
19,850 | 1,870,267 | ||||||
Procter & Gamble Co. |
65,845 | 4,977,224 | ||||||
|
|
|||||||
$ | 7,406,701 | |||||||
|
|
|||||||
Industrial Conglomerates 1.9% |
||||||||
3M Co. |
21,663 | $ | 2,586,779 | |||||
General Electric Co. |
197,990 | 4,729,981 | ||||||
|
|
|||||||
$ | 7,316,760 | |||||||
|
|
|||||||
Insurance 4.2% |
||||||||
ACE, Ltd. |
14,012 | $ | 1,310,963 | |||||
Allstate Corp. (The) |
50,422 | 2,548,832 | ||||||
AmTrust Financial Services, Inc. |
3,046 | 118,973 | ||||||
Cincinnati Financial Corp. |
23,600 | 1,112,976 | ||||||
Hanover Insurance Group, Inc. (The) |
1,721 | 95,206 | ||||||
Hartford Financial Services Group, Inc. |
12,332 | 383,772 | ||||||
Lincoln National Corp. |
50,975 | 2,140,440 | ||||||
Marsh & McLennan Cos., Inc. |
50,188 | 2,185,687 | ||||||
MetLife, Inc. |
14,938 | 701,339 | ||||||
Principal Financial Group, Inc. |
29,001 | 1,241,823 | ||||||
Prudential Financial, Inc. |
21,629 | 1,686,630 | ||||||
Travelers Companies, Inc. (The) |
32,794 | 2,779,947 | ||||||
|
|
|||||||
$ | 16,306,588 | |||||||
|
|
|||||||
Internet & Catalog Retail 1.1% |
||||||||
Amazon.com, Inc.(1) |
2,750 | $ | 859,760 | |||||
priceline.com, Inc.(1) |
1,797 | 1,816,677 | ||||||
Shutterfly, Inc.(1) |
28,875 | 1,613,535 | ||||||
|
|
|||||||
$ | 4,289,972 | |||||||
|
|
|||||||
Internet Software & Services 2.7% |
||||||||
Facebook, Inc., Class A(1) |
3,185 | $ | 160,014 | |||||
Google, Inc., Class A(1) |
9,151 | 8,015,452 | ||||||
VeriSign, Inc.(1) |
43,013 | 2,188,932 | ||||||
|
|
|||||||
$ | 10,364,398 | |||||||
|
|
|||||||
IT Services 3.0% |
||||||||
Fidelity National Information Services, Inc. |
26,132 | $ | 1,213,570 | |||||
International Business Machines Corp. |
33,173 | 6,142,976 | ||||||
MasterCard, Inc., Class A |
5,636 | 3,791,788 | ||||||
Visa, Inc., Class A |
2,919 | 557,821 | ||||||
|
|
|||||||
$ | 11,706,155 | |||||||
|
|
|||||||
Leisure Equipment & Products 0.6% |
||||||||
Mattel, Inc. |
52,463 | $ | 2,196,101 | |||||
|
|
|||||||
$ | 2,196,101 | |||||||
|
|
|||||||
Life Sciences Tools & Services 0.7% |
||||||||
Thermo Fisher Scientific, Inc. |
30,548 | $ | 2,814,998 | |||||
|
|
|||||||
$ | 2,814,998 | |||||||
|
|
|||||||
Machinery 1.2% |
||||||||
Caterpillar, Inc. |
31,778 | $ | 2,649,332 | |||||
Snap-On, Inc. |
6,380 | 634,810 | ||||||
Stanley Black & Decker, Inc. |
9,483 | 858,875 | ||||||
Timken Co. (The) |
5,099 | 307,980 | ||||||
|
|
|||||||
$ | 4,450,997 | |||||||
|
|
|||||||
Media 4.5% |
||||||||
CBS Corp., Class B |
44,623 | $ | 2,461,405 | |||||
Comcast Corp., Class A |
112,954 | 5,099,873 | ||||||
Omnicom Group, Inc. |
36,544 | 2,318,351 |
4
Security | Shares | Value | ||||||
Time Warner, Inc. |
36,488 | $ | 2,401,275 | |||||
Walt Disney Co. (The) |
74,663 | 4,815,017 | ||||||
|
|
|||||||
$ | 17,095,921 | |||||||
|
|
|||||||
Metals & Mining 0.8% |
||||||||
Freeport-McMoRan Copper & Gold, Inc. |
17,655 | $ | 584,027 | |||||
Nucor Corp. |
47,291 | 2,318,205 | ||||||
|
|
|||||||
$ | 2,902,232 | |||||||
|
|
|||||||
Multi-Utilities 2.1% |
||||||||
Centerpoint Energy, Inc. |
17,504 | $ | 419,571 | |||||
CMS Energy Corp. |
77,060 | 2,028,219 | ||||||
Dominion Resources, Inc. |
17,163 | 1,072,345 | ||||||
DTE Energy Co. |
10,342 | 682,365 | ||||||
Integrys Energy Group, Inc. |
7,572 | 423,199 | ||||||
NiSource, Inc. |
49,999 | 1,544,469 | ||||||
Public Service Enterprise Group, Inc. |
60,956 | 2,007,281 | ||||||
|
|
|||||||
$ | 8,177,449 | |||||||
|
|
|||||||
Multiline Retail 0.9% |
||||||||
Kohls Corp. |
5,666 | $ | 293,216 | |||||
Macys, Inc. |
50,853 | 2,200,409 | ||||||
Nordstrom, Inc. |
13,647 | 766,961 | ||||||
Target Corp. |
5,000 | 319,900 | ||||||
|
|
|||||||
$ | 3,580,486 | |||||||
|
|
|||||||
Office Electronics 0.1% |
||||||||
Xerox Corp. |
24,626 | $ | 253,402 | |||||
|
|
|||||||
$ | 253,402 | |||||||
|
|
|||||||
Oil, Gas & Consumable Fuels 9.3% |
||||||||
Chevron Corp. |
65,682 | $ | 7,980,363 | |||||
ConocoPhillips |
54,643 | 3,798,235 | ||||||
EOG Resources, Inc. |
18,876 | 3,195,329 | ||||||
Exxon Mobil Corp. |
111,091 | 9,558,270 | ||||||
Kinder Morgan, Inc. |
21,161 | 752,697 | ||||||
Occidental Petroleum Corp. |
31,010 | 2,900,675 | ||||||
Peabody Energy Corp. |
28,650 | 494,213 | ||||||
Phillips 66 |
31,720 | 1,834,050 | ||||||
Range Resources Corp. |
22,269 | 1,689,994 | ||||||
Tesoro Corp. |
20,477 | 900,579 | ||||||
Williams Cos., Inc. |
71,006 | 2,581,778 | ||||||
WPX Energy, Inc.(1) |
5,037 | 97,013 | ||||||
|
|
|||||||
$ | 35,783,196 | |||||||
|
|
|||||||
Personal Products 0.1% |
||||||||
Estee Lauder Cos., Inc. (The), Class A |
5,729 | $ | 400,457 | |||||
|
|
|||||||
$ | 400,457 | |||||||
|
|
|||||||
Pharmaceuticals 5.2% |
||||||||
AbbVie, Inc. |
23,000 | $ | 1,028,790 | |||||
Bristol-Myers Squibb Co. |
81,600 | 3,776,448 | ||||||
Johnson & Johnson |
53,239 | 4,615,289 | ||||||
Merck & Co., Inc. |
119,358 | 5,682,634 | ||||||
Pfizer, Inc. |
171,390 | 4,920,607 | ||||||
|
|
|||||||
$ | 20,023,768 | |||||||
|
|
|||||||
Professional Services 0.3% |
||||||||
ManpowerGroup, Inc. |
4,353 | $ | 316,637 | |||||
Robert Half International, Inc. |
18,170 | 709,175 | ||||||
|
|
|||||||
$ | 1,025,812 | |||||||
|
|
5
Security | Shares | Value | ||||||
Real Estate Investment Trusts (REITs) 1.7% |
||||||||
Apartment Investment & Management Co., Class A |
12,428 | $ | 347,238 | |||||
AvalonBay Communities, Inc. |
11,002 | 1,398,244 | ||||||
Equity Residential |
14,774 | 791,443 | ||||||
Health Care REIT, Inc. |
6,813 | 424,995 | ||||||
Host Hotels & Resorts, Inc. |
58,590 | 1,035,285 | ||||||
Kimco Realty Corp. |
78,276 | 1,579,610 | ||||||
Plum Creek Timber Co., Inc. |
5,304 | 248,386 | ||||||
ProLogis, Inc. |
22,296 | 838,776 | ||||||
|
|
|||||||
$ | 6,663,977 | |||||||
|
|
|||||||
Real Estate Management & Development 0.1% |
||||||||
CB Richard Ellis Group, Inc., Class A(1) |
8,158 | $ | 188,695 | |||||
|
|
|||||||
$ | 188,695 | |||||||
|
|
|||||||
Road & Rail 1.0% |
||||||||
J.B. Hunt Transport Services, Inc. |
3,521 | $ | 256,786 | |||||
Kansas City Southern |
13,949 | 1,525,463 | ||||||
Norfolk Southern Corp. |
27,357 | 2,116,064 | ||||||
|
|
|||||||
$ | 3,898,313 | |||||||
|
|
|||||||
Semiconductors & Semiconductor Equipment 1.6% |
||||||||
Advanced Micro Devices, Inc.(1) |
352,424 | $ | 1,339,211 | |||||
Analog Devices, Inc. |
16,160 | 760,328 | ||||||
Applied Materials, Inc. |
15,313 | 268,590 | ||||||
Cree, Inc.(1) |
21,482 | 1,293,002 | ||||||
Cypress Semiconductor Corp.(1) |
60,131 | 561,624 | ||||||
Intel Corp. |
56,723 | 1,300,091 | ||||||
Teradyne, Inc.(1) |
32,470 | 536,404 | ||||||
|
|
|||||||
$ | 6,059,250 | |||||||
|
|
|||||||
Software 3.3% |
||||||||
Concur Technologies, Inc.(1) |
17,822 | $ | 1,969,331 | |||||
Microsoft Corp. |
205,713 | 6,852,300 | ||||||
Oracle Corp. |
106,479 | 3,531,908 | ||||||
Symantec Corp. |
8,033 | 198,817 | ||||||
|
|
|||||||
$ | 12,552,356 | |||||||
|
|
|||||||
Specialty Retail 1.9% |
||||||||
Abercrombie & Fitch Co., Class A |
4,343 | $ | 153,612 | |||||
Advance Auto Parts, Inc. |
3,365 | 278,218 | ||||||
Bed Bath & Beyond, Inc.(1) |
6,692 | 517,693 | ||||||
Home Depot, Inc. (The) |
63,895 | 4,846,436 | ||||||
Lowes Companies, Inc. |
11,660 | 555,133 | ||||||
Tiffany & Co. |
14,641 | 1,121,793 | ||||||
|
|
|||||||
$ | 7,472,885 | |||||||
|
|
|||||||
Textiles, Apparel & Luxury Goods 0.3% |
||||||||
NIKE, Inc., Class B |
15,176 | $ | 1,102,385 | |||||
|
|
|||||||
$ | 1,102,385 | |||||||
|
|
|||||||
Tobacco 1.5% |
||||||||
Lorillard, Inc. |
5,365 | $ | 240,245 | |||||
Philip Morris International, Inc. |
65,027 | 5,630,688 | ||||||
|
|
|||||||
$ | 5,870,933 | |||||||
|
|
|||||||
Trading Companies & Distributors 0.1% |
||||||||
Fastenal Co. |
10,080 | $ | 506,520 | |||||
|
|
|||||||
$ | 506,520 | |||||||
|
|
|||||||
Total Common Stocks 100.5% |
$ | 386,436,987 | ||||||
|
|
|||||||
6
Call Options Written (0.8)%
Description | Number of Contracts |
Strike Price |
Expiration Date |
Value | ||||||||||||
S&P 500 Index |
600 | $ | 1,665 | 10/4/13 | $ | (1,446,000 | ) | |||||||||
S&P 500 Index |
585 | 1,695 | 10/11/13 | (643,500 | ) | |||||||||||
S&P 500 Index |
515 | 1,725 | 10/19/13 | (211,150 | ) | |||||||||||
S&P 500 Index |
480 | 1,700 | 10/25/13 | (763,200 | ) | |||||||||||
|
|
|||||||||||||||
Total Call Options Written |
$ | (3,063,850 | ) | |||||||||||||
|
|
|||||||||||||||
Other Assets, Less Liabilities 0.3% |
$ | 1,136,989 | ||||||||||||||
|
|
|||||||||||||||
Net Assets 100.0% |
$ | 384,510,126 | ||||||||||||||
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
ADR |
- | American Depositary Receipt |
(1) | Non-income producing security. |
The cost and unrealized appreciation (depreciation) of investments of the Fund at September 30, 2013, as determined on a federal income tax basis, were as follows:
Aggregate cost |
$ | 208,821,022 | ||
|
|
|||
Gross unrealized appreciation |
$ | 177,620,894 | ||
Gross unrealized depreciation |
(4,929 | ) | ||
|
|
|||
Net unrealized appreciation |
$ | 177,615,965 | ||
|
|
Written options activity for the fiscal year to date ended September 30, 2013 was as follows:
Number of Contracts |
Premiums Received |
|||||||
Outstanding, beginning of period | 2,485 | $ | 4,068,031 | |||||
Options written | 22,225 | 39,557,337 | ||||||
Options terminated in closing purchase transactions | (18,540 | ) | (32,804,596 | ) | ||||
Options expired | (3,990 | ) | (6,758,998 | ) | ||||
|
|
|
|
|||||
Outstanding, end of period |
2,180 | $ | 4,061,774 | |||||
|
|
|
|
All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent. At September 30, 2013, the Fund had sufficient cash and/or securities to cover commitments under these contracts.
The Fund is subject to equity price risk in the normal course of pursuing its investment objectives. The Fund writes index call options above the current value of the index to generate premium income. In writing index call options, the Fund in effect, sells potential appreciation in the value of the applicable index above the exercise price in exchange for the option premium received. The Fund retains the risk of loss, minus the premium received, should the price of the underlying index decline.
At September 30, 2013, the aggregate fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in a liability position and whose primary underlying risk exposure is equity price risk was $3,063,850.
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed 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 a funds own assumptions in determining the fair value of investments) |
7
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At September 30, 2013, the hierarchy of inputs used in valuing the Funds investments and open derivative instruments, which are carried at value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Common Stocks |
$ | 386,436,987 | * | $ | | $ | | $ | 386,436,987 | |||||||
Total Investments |
$ | 386,436,987 | $ | | $ | | $ | 386,436,987 | ||||||||
Liability Description | ||||||||||||||||
Call Options Written |
$ | (3,063,850 | ) | $ | | $ | | $ | (3,063,850 | ) | ||||||
Total |
$ | (3,063,850 | ) | $ | | $ | | $ | (3,063,850 | ) |
* | The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments. |
The Fund held no investments or other financial instruments as of December 31, 2012 whose fair value was determined using Level 3 inputs. At September 30, 2013, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.
For information on the Funds policy regarding the valuation of investments and other significant accounting policies, please refer to the Funds most recent financial statements included in its semiannual or annual report to shareholders.
8
Item 2. Controls and Procedures
(a) It is the conclusion of the registrants principal executive officer and principal financial officer that the effectiveness of the registrants current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commissions rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrants principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrants internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrants internal control over financial reporting.
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.
Eaton Vance Tax-Managed Buy-Write Income Fund
By: | /s/ Walter A. Row, III | |
Walter A. Row, III | ||
President | ||
Date: | November 25, 2013 |
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/ Walter A. Row, III | |
Walter A. Row, III | ||
President | ||
Date: | November 25, 2013 |
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: | November 25, 2013 |