UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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Investment Company Act file number |
811-22057 |
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Cohen & Steers Global Income Builder, Inc. |
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(Exact name of registrant as specified in charter) |
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280 Park Avenue New York, NY |
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10017 |
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(Address of principal executive offices) |
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(Zip code) |
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Francis C. Poli |
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(Name and address of agent for service) |
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Registrant's telephone number, including area code: |
(212) 832-3232 |
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Date of fiscal year end: |
December 31 |
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Date of reporting period: |
September 30, 2007 |
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Item 1. Schedule of Investments
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
September 30, 2007 (Unaudited)
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
COMMON STOCK 81.9% |
|
|
|
|
|
|
|
AUSTRALIA 1.3% |
|
|
|
|
|
|
|
BANK 0.6% |
|
|
|
|
|
|
|
Australia and New Zealand Banking Group Ltd. (a) |
|
107,361 |
|
$ |
2,829,424 |
|
|
|
|
|
|
|
|
|
|
MATERIAL 0.7% |
|
|
|
|
|
|
|
BHP Billiton Ltd. (a) |
|
81,287 |
|
3,213,392 |
|
|
|
TOTAL AUSTRALIA |
|
|
|
6,042,816 |
|
|
|
CANADA 1.2% |
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICE 0.6% |
|
|
|
|
|
|
|
IGM Financial (a) |
|
52,611 |
|
2,782,223 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY— OIL & GAS 0.6% |
|
|
|
|
|
|
|
Petro-Canada (a) |
|
52,715 |
|
3,024,627 |
|
|
|
TOTAL CANADA |
|
|
|
5,806,850 |
|
|
|
|
|
|
|
|
|
|
|
FINLAND 1.8% |
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
|
|
|
Nokia Oyj |
|
90,600 |
|
3,444,233 |
|
|
|
|
|
|
|
|
|
|
|
UTILITY— ELECTRIC— INTEGRATED 1.1% |
|
|
|
|
|
|
|
Fortum Oyj |
|
133,800 |
|
4,910,988 |
|
|
|
TOTAL FINLAND |
|
|
|
8,355,221 |
|
|
|
|
|
|
|
|
|
|
|
FRANCE 3.9% |
|
|
|
|
|
|
|
BANK 0.3% |
|
|
|
|
|
|
|
BNP Paribas |
|
11,900 |
|
1,302,186 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY— OIL & GAS 1.0% |
|
|
|
|
|
|
|
Total SA |
|
55,181 |
|
4,486,638 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE— DIVERSIFIED 1.0% |
|
|
|
|
|
|
|
Unibail-Rodamco |
|
19,021 |
|
4,895,428 |
|
|
|
|
|
|
|
|
|
|
|
UTILITY— ELECTRIC— INTEGRATED 1.6% |
|
|
|
|
|
|
|
Electricite de France |
|
71,744 |
|
7,585,792 |
|
|
|
TOTAL FRANCE |
|
|
|
18,270,044 |
|
|
1
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
GERMANY 2.6% |
|
|
|
|
|
|
|
INDUSTRIAL 0.7% |
|
|
|
|
|
|
|
Siemens AG (a) |
|
21,900 |
|
$ |
3,011,033 |
|
|
|
|
|
|
|
|
|
|
INSURANCE 0.3% |
|
|
|
|
|
|
|
Allianz SE (a) |
|
6,100 |
|
1,425,215 |
|
|
|
|
|
|
|
|
|
|
|
UTILITY— ELECTRIC— INTEGRATED 1.6% |
|
|
|
|
|
|
|
E.ON AG (ADR)(a) |
|
122,647 |
|
7,526,846 |
|
|
|
TOTAL GERMANY |
|
|
|
11,963,094 |
|
|
|
|
|
|
|
|
|
|
|
HONG KONG 3.8% |
|
|
|
|
|
|
|
ENERGY— OIL & GAS 0.6% |
|
|
|
|
|
|
|
CNOOC Ltd. |
|
1,694,000 |
|
2,850,263 |
|
|
|
|
|
|
|
|
|
|
|
FINANCE 0.5% |
|
|
|
|
|
|
|
Hong Kong Exchanges and Clearing Ltd. |
|
76,500 |
|
2,342,083 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE 2.3% |
|
|
|
|
|
|
|
DIVERSIFIED 1.4% |
|
|
|
|
|
|
|
Hysan Development Company Ltd. |
|
1,447,000 |
|
4,011,249 |
|
|
|
Wharf Holdings Ltd. |
|
510,000 |
|
2,512,655 |
|
|
|
|
|
|
|
6,523,904 |
|
|
|
OFFICE 0.9% |
|
|
|
|
|
|
|
Hongkong Land Holdings Ltd. (USD)(a) |
|
974,000 |
|
4,402,480 |
|
|
|
TOTAL REAL ESTATE |
|
|
|
10,926,384 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.4% |
|
|
|
|
|
|
|
China Mobile Ltd. |
|
112,000 |
|
1,832,605 |
|
|
|
TOTAL HONG KONG |
|
|
|
17,951,335 |
|
|
|
|
|
|
|
|
|
|
|
ISRAEL 0.6% |
|
|
|
|
|
|
|
PHARMACEUTICAL |
|
|
|
|
|
|
|
Teva Pharmaceutical Industries Ltd. (ADR)(a) |
|
60,084 |
|
2,671,936 |
|
|
|
|
|
|
|
|
|
|
|
ITALY 0.9% |
|
|
|
|
|
|
|
BANK 0.6% |
|
|
|
|
|
|
|
UniCredito Italiano S.p.A. |
|
331,200 |
|
2,833,647 |
|
|
2
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
UTILITY— ELECTRIC— INTEGRATED 0.3% |
|
|
|
|
|
|
|
Eni S.p.A. |
|
37,100 |
|
$ |
1,374,942 |
|
|
TOTAL ITALY |
|
|
|
4,208,589 |
|
|
|
|
|
|
|
|
|
|
|
JAPAN 7.0% |
|
|
|
|
|
|
|
APPAREL 0.2% |
|
|
|
|
|
|
|
Fast Retailing Co., Ltd. |
|
15,000 |
|
865,799 |
|
|
|
Nisshinbo Industries |
|
17,000 |
|
236,356 |
|
|
|
|
|
|
|
1,102,155 |
|
|
|
AUTOMOTIVE 0.5% |
|
|
|
|
|
|
|
Toyota Motor Corp. |
|
38,300 |
|
2,260,689 |
|
|
|
|
|
|
|
|
|
|
|
BANK 0.0% |
|
|
|
|
|
|
|
Sumitomo Trust and Banking Co., Ltd. |
|
25,000 |
|
189,135 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY— OIL & GAS REFINING & MARKETING 0.1% |
|
|
|
|
|
|
|
Showa Shell Sekiyu KK |
|
21,000 |
|
270,030 |
|
|
|
|
|
|
|
|
|
|
|
FINANCE 0.1% |
|
|
|
|
|
|
|
Daiwa Securities Group |
|
32,000 |
|
304,775 |
|
|
|
|
|
|
|
|
|
|
|
FOOD 0.4% |
|
|
|
|
|
|
|
House Foods Corp. |
|
38,000 |
|
663,300 |
|
|
|
Kikkoman Corp. |
|
69,000 |
|
1,041,623 |
|
|
|
|
|
|
|
1,704,923 |
|
|
|
HEALTH CARE 0.3% |
|
|
|
|
|
|
|
Astellas Pharma |
|
24,000 |
|
1,151,265 |
|
|
|
Eisai Co., Ltd. |
|
9,000 |
|
425,456 |
|
|
|
|
|
|
|
1,576,721 |
|
|
|
INDUSTRIAL 1.3% |
|
|
|
|
|
|
|
Chiyoda Corp. |
|
28,000 |
|
504,592 |
|
|
|
Fanuc Ltd. |
|
28,500 |
|
2,905,454 |
|
|
|
Secom Co., Ltd. |
|
51,500 |
|
2,479,389 |
|
|
|
|
|
|
|
5,889,435 |
|
|
|
INSURANCE 0.3% |
|
|
|
|
|
|
|
Sompo Japan Insurance |
|
108,000 |
|
1,239,229 |
|
|
3
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
MATERIALS 0.5% |
|
|
|
|
|
|
|
Mitsubishi Materials Corp. |
|
76,000 |
|
$ |
472,416 |
|
|
Shin-Etsu Chemical Co., Ltd. |
|
22,000 |
|
1,520,742 |
|
|
|
Sumitomo Metal Mining Co., Ltd. |
|
14,000 |
|
340,051 |
|
|
|
|
|
|
|
2,333,209 |
|
|
|
REAL ESTATE 1.7% |
|
|
|
|
|
|
|
DIVERSIFIED 1.1% |
|
|
|
|
|
|
|
Mitsubishi Estate Co., Ltd. |
|
170,000 |
|
4,869,194 |
|
|
|
|
|
|
|
|
|
|
|
OFFICE 0.6% |
|
|
|
|
|
|
|
DA Office Investment Corp. |
|
456 |
|
2,993,288 |
|
|
|
TOTAL REAL ESTATE |
|
|
|
7,862,482 |
|
|
|
|
|
|
|
|
|
|
|
TECHNOLOGY 1.4% |
|
|
|
|
|
|
|
Canon |
|
35,000 |
|
1,910,504 |
|
|
|
CSK Holdings Corp. |
|
26,000 |
|
1,016,323 |
|
|
|
Kyocera Corp. |
|
8,000 |
|
750,098 |
|
|
|
NTT Data Corp. |
|
229 |
|
1,020,746 |
|
|
|
Sony Corp. |
|
17,000 |
|
824,359 |
|
|
|
TDK Corp. |
|
10,000 |
|
877,552 |
|
|
|
Tokyo Electron Ltd. |
|
5,600 |
|
354,921 |
|
|
|
|
|
|
|
6,754,503 |
|
|
|
TELECOMMUNICATION SERVICES 0.2% |
|
|
|
|
|
|
|
KDDI Corp. |
|
155 |
|
1,149,697 |
|
|
|
TOTAL JAPAN |
|
|
|
32,636,983 |
|
|
|
|
|
|
|
|
|
|
|
MEXICO 1.2% |
|
|
|
|
|
|
|
RETAIL 0.6% |
|
|
|
|
|
|
|
Wal-Mart de Mexico SA de CV |
|
731,700 |
|
2,682,646 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.6% |
|
|
|
|
|
|
|
America Movil SAB de CV |
|
873,600 |
|
2,795,545 |
|
|
|
TOTAL MEXICO |
|
|
|
5,478,191 |
|
|
|
|
|
|
|
|
|
|
|
NETHERLANDS 0.3% |
|
|
|
|
|
|
|
BANK |
|
|
|
|
|
|
|
ABN AMRO Holding NV |
|
27,000 |
|
1,422,599 |
|
|
4
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
SPAIN 1.6% |
|
|
|
|
|
|
|
BANK 0.9% |
|
|
|
|
|
|
|
Banco Santander Central Hispano SA (a) |
|
228,800 |
|
$ |
4,446,887 |
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.7% |
|
|
|
|
|
|
|
Telefonica SA |
|
110,100 |
|
3,081,852 |
|
|
|
TOTAL SPAIN |
|
|
|
7,528,739 |
|
|
|
|
|
|
|
|
|
|
|
SWEDEN 0.7% |
|
|
|
|
|
|
|
RETAIL |
|
|
|
|
|
|
|
Hennes & Mauritz AB |
|
49,279 |
|
3,123,861 |
|
|
|
|
|
|
|
|
|
|
|
SWITZERLAND 2.2% |
|
|
|
|
|
|
|
FINANCE 0.6% |
|
|
|
|
|
|
|
UBS AG (a) |
|
52,163 |
|
2,804,727 |
|
|
|
|
|
|
|
|
|
|
|
FOOD 1.0% |
|
|
|
|
|
|
|
Nestle SA (a) |
|
10,162 |
|
4,564,935 |
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE 0.6% |
|
|
|
|
|
|
|
Novartis AG (a) |
|
51,800 |
|
2,858,622 |
|
|
|
TOTAL SWITZERLAND |
|
|
|
10,228,284 |
|
|
|
|
|
|
|
|
|
|
|
UNITED KINGDOM 9.1% |
|
|
|
|
|
|
|
BANK 1.8% |
|
|
|
|
|
|
|
Barclays PLC |
|
219,300 |
|
2,671,933 |
|
|
|
HSBC Holdings PLC |
|
308,700 |
|
5,712,819 |
|
|
|
|
|
|
|
8,384,752 |
|
|
|
ELECTRIC UTILITIES 1.9% |
|
|
|
|
|
|
|
Scottish and Southern Energy PLC |
|
291,833 |
|
9,022,026 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY— INTEGRATED OIL & GAS 0.9% |
|
|
|
|
|
|
|
Royal Dutch Shell PLC |
|
104,524 |
|
4,313,474 |
|
|
|
|
|
|
|
|
|
|
|
HEALTH CARE 0.9% |
|
|
|
|
|
|
|
GlaxoSmithKline PLC |
|
151,100 |
|
4,009,680 |
|
|
|
|
|
|
|
|
|
|
|
MATERIAL 0.7% |
|
|
|
|
|
|
|
Rio Tinto PLC |
|
37,900 |
|
3,278,532 |
|
|
5
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE 1.9% |
|
|
|
|
|
|
|
DIVERSIFIED 0.9% |
|
|
|
|
|
|
|
British Land Co., PLC |
|
174,859 |
|
$ |
4,192,961 |
|
|
|
|
|
|
|
|
|
|
OFFICE 1.0% |
|
|
|
|
|
|
|
Derwent London PLC |
|
129,865 |
|
4,453,192 |
|
|
|
TOTAL REAL ESTATE |
|
|
|
8,646,153 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 1.0% |
|
|
|
|
|
|
|
Vodafone Group PLC |
|
1,287,000 |
|
4,647,597 |
|
|
|
TOTAL UNITED KINGDOM |
|
|
|
42,302,214 |
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES 43.7% |
|
|
|
|
|
|
|
BASIC MATERIALS 0.6% |
|
|
|
|
|
|
|
Alcoa(a) |
|
75,958 |
|
2,971,477 |
|
|
|
|
|
|
|
|
|
|
|
CONSUMER— CYCLICAL 1.2% |
|
|
|
|
|
|
|
APPAREL 0.6% |
|
|
|
|
|
|
|
Nike(a) |
|
49,737 |
|
2,917,572 |
|
|
|
|
|
|
|
|
|
|
|
RETAIL 0.6% |
|
|
|
|
|
|
|
Nordstrom(a) |
|
59,240 |
|
2,777,764 |
|
|
|
TOTAL CONSUMER — CYCLICAL |
|
|
|
5,695,336 |
|
|
|
|
|
|
|
|
|
|
|
CONSUMER — NON-CYCLICAL 10.2% |
|
|
|
|
|
|
|
AGRICULTURE 1.9% |
|
|
|
|
|
|
|
Altria Group(a) |
|
38,533 |
|
2,679,200 |
|
|
|
Archer-Daniels-Midland Co.(a) |
|
83,379 |
|
2,758,177 |
|
|
|
Monsanto Co.(a) |
|
39,734 |
|
3,406,793 |
|
|
|
|
|
|
|
8,844,170 |
|
|
|
BEVERAGE 0.6% |
|
|
|
|
|
|
|
PepsiCo(a) |
|
38,510 |
|
2,821,243 |
|
|
|
|
|
|
|
|
|
|
|
COSMETICS/PERSONAL CARE 1.3% |
|
|
|
|
|
|
|
Procter & Gamble Co.(a) |
|
84,276 |
|
5,927,974 |
|
|
|
|
|
|
|
|
|
|
|
FOOD 0.6% |
|
|
|
|
|
|
|
Kraft Foods(a) |
|
84,373 |
|
2,911,712 |
|
|
|
|
|
|
|
|
|
|
|
HEALTHCARE PRODUCTS 1.8% |
|
|
|
|
|
|
|
Johnson & Johnson(a) |
|
67,036 |
|
4,404,265 |
|
|
6
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
Medtronic(a) |
|
75,825 |
|
$ |
4,277,288 |
|
|
|
|
|
|
8,681,553 |
|
|
|
PHARMACEUTICAL 2.4% |
|
|
|
|
|
|
|
Abbott Laboratories(a) |
|
106,663 |
|
5,719,270 |
|
|
|
Merck & Co.(a) |
|
55,829 |
|
2,885,801 |
|
|
|
Pfizer(a) |
|
106,584 |
|
2,603,847 |
|
|
|
|
|
|
|
11,208,918 |
|
|
|
RESTAURANT 1.6% |
|
|
|
|
|
|
|
McDonald’s Corp.(a) |
|
56,039 |
|
3,052,445 |
|
|
|
Yum! Brands (a) |
|
126,393 |
|
4,275,875 |
|
|
|
|
|
|
|
7,328,320 |
|
|
|
TOTAL CONSUMER— NON-CYCLICAL |
|
|
|
47,723,890 |
|
|
|
|
|
|
|
|
|
|
|
ENERGY 4.3% |
|
|
|
|
|
|
|
OIL & GAS 3.7% |
|
|
|
|
|
|
|
Chevron Corp.(a) |
|
29,430 |
|
2,754,059 |
|
|
|
ConocoPhillips(a) |
|
32,070 |
|
2,814,784 |
|
|
|
Devon Energy Corp.(a) |
|
33,673 |
|
2,801,594 |
|
|
|
Exxon Mobil Corp.(a) |
|
63,347 |
|
5,863,398 |
|
|
|
GlobalSantaFe Corp.(a) |
|
38,220 |
|
2,905,485 |
|
|
|
|
|
|
|
17,139,320 |
|
|
|
OIL & GAS SERVICES 0.6% |
|
|
|
|
|
|
|
Schlumberger Ltd.(a) |
|
27,198 |
|
2,855,790 |
|
|
|
TOTAL ENERGY |
|
|
|
19,995,110 |
|
|
|
|
|
|
|
|
|
|
|
FINANCIAL 7.6% |
|
|
|
|
|
|
|
BANK 2.3% |
|
|
|
|
|
|
|
Bank of America Corp.(a) |
|
108,999 |
|
5,479,380 |
|
|
|
Wells Fargo & Co. (a) |
|
152,987 |
|
5,449,397 |
|
|
|
|
|
|
|
10,928,777 |
|
|
|
DIVERSIFIED FINANCIAL SERVICE 2.5% |
|
|
|
|
|
|
|
Citigroup(a) |
|
59,838 |
|
2,792,640 |
|
|
|
Federal Home Loan Mortgage Corp.(a) |
|
43,340 |
|
2,557,493 |
|
|
7
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
Goldman Sachs Group(a) |
|
15,500 |
|
$ |
3,359,470 |
|
|
JPMorgan Chase & Co.(a) |
|
62,194 |
|
2,849,729 |
|
|
|
|
|
|
|
11,559,332 |
|
|
|
INSURANCE 2.8% |
|
|
|
|
|
|
|
Aflac(a) |
|
102,349 |
|
5,837,987 |
|
|
|
American International Group(a) |
|
42,037 |
|
2,843,803 |
|
|
|
HCC Insurance Holdings(a) |
|
149,381 |
|
4,278,272 |
|
|
|
|
|
|
|
12,960,062 |
|
|
|
TOTAL FINANCIAL |
|
|
|
35,448,171 |
|
|
|
|
|
|
|
|
|
|
|
INDUSTRIAL 6.2% |
|
|
|
|
|
|
|
AEROSPACE & DEFENSE 2.6% |
|
|
|
|
|
|
|
Boeing Co.(a) |
|
57,443 |
|
6,030,940 |
|
|
|
General Dynamics Corp.(a) |
|
35,319 |
|
2,983,396 |
|
|
|
United Technologies Corp.(a) |
|
37,473 |
|
3,015,827 |
|
|
|
|
|
|
|
12,030,163 |
|
|
|
COMPUTERS 1.7% |
|
|
|
|
|
|
|
Hewlett-Packard Co.(a) |
|
81,974 |
|
4,081,486 |
|
|
|
International Business Machines Corp.(a) |
|
35,033 |
|
4,126,887 |
|
|
|
|
|
|
|
8,208,373 |
|
|
|
DIVERSIFIED MANUFACTURING 1.3% |
|
|
|
|
|
|
|
General Electric Co.(a) |
|
142,330 |
|
5,892,462 |
|
|
|
|
|
|
|
|
|
|
|
TRANSPORTATION 0.6% |
|
|
|
|
|
|
|
United Parcel Service(a) |
|
36,560 |
|
2,745,656 |
|
|
|
TOTAL INDUSTRIAL |
|
|
|
28,876,654 |
|
|
|
|
|
|
|
|
|
|
|
MEDIA 0.8% |
|
|
|
|
|
|
|
Time Warner(a) |
|
217,089 |
|
3,985,754 |
|
|
|
|
|
|
|
|
|
|
|
REAL ESTATE 3.1% |
|
|
|
|
|
|
|
SELF STORAGE 1.0% |
|
|
|
|
|
|
|
Public Storage(a) |
|
61,286 |
|
4,820,144 |
|
|
8
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
SHOPPING CENTER 2.1% |
|
|
|
|
|
|
|
COMMUNITY CENTER 1.0% |
|
|
|
|
|
|
|
Federal Realty Investment Trust(a) |
|
53,858 |
|
$ |
4,771,819 |
|
|
|
|
|
|
|
|
|
|
REGIONAL MALL 1.1% |
|
|
|
|
|
|
|
Macerich Co.(a) |
|
55,845 |
|
4,890,905 |
|
|
|
TOTAL SHOPPING CENTER |
|
|
|
9,662,724 |
|
|
|
TOTAL REAL ESTATE |
|
|
|
14,482,868 |
|
|
|
|
|
|
|
|
|
|
|
TECHNOLOGY 3.7% |
|
|
|
|
|
|
|
COMPUTERS 0.1% |
|
|
|
|
|
|
|
Seagate Technology(a) |
|
26,200 |
|
670,196 |
|
|
|
|
|
|
|
|
|
|
|
SEMICONDUCTORS 2.3% |
|
|
|
|
|
|
|
Intel Corp.(a) |
|
214,501 |
|
5,546,996 |
|
|
|
Microchip Technology(a) |
|
143,048 |
|
5,195,503 |
|
|
|
|
|
|
|
10,742,499 |
|
|
|
SOFTWARE 1.3% |
|
|
|
|
|
|
|
Microsoft Corp.(a) |
|
193,115 |
|
5,689,168 |
|
|
|
TOTAL TECHNOLOGY |
|
|
|
17,101,863 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 2.2% |
|
|
|
|
|
|
|
AT&T(a) |
|
104,277 |
|
4,411,960 |
|
|
|
Corning (a) |
|
113,400 |
|
2,795,310 |
|
|
|
Verizon Communications (a) |
|
65,686 |
|
2,908,576 |
|
|
|
|
|
|
|
10,115,846 |
|
|
|
UTILITIES 3.8% |
|
|
|
|
|
|
|
ELECTRIC UTILITIES 1.8% |
|
|
|
|
|
|
|
Energy Transfer Partners LP(a) |
|
55,400 |
|
2,706,290 |
|
|
|
Exelon Corp.(a) |
|
30,105 |
|
2,268,713 |
|
|
|
FirstEnergy Corp.(a) |
|
51,415 |
|
3,256,626 |
|
|
|
|
|
|
|
8,231,629 |
|
|
|
MULTI UTILITIES 1.5% |
|
|
|
|
|
|
|
Ameren Corp.(a) |
|
87,483 |
|
4,592,857 |
|
|
9
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
Sempra Energy(a) |
|
40,000 |
|
$ |
2,324,800 |
|
|
|
|
|
|
6,917,657 |
|
|
|
PIPELINES 0.5% |
|
|
|
|
|
|
|
Enterprise Products Partners LP(a) |
|
79,200 |
|
2,395,800 |
|
|
|
TOTAL UTILITIES |
|
|
|
17,545,086 |
|
|
|
TOTAL UNITED STATES |
|
|
|
203,942,055 |
|
|
|
TOTAL COMMON
STOCK |
|
|
|
381,932,811 |
|
|
|
|
|
|
|
|
|
|
|
CLOSED-END FUNDS 8.8% |
|
|
|
|
|
|
|
CONVERTIBLE 0.9% |
|
|
|
|
|
|
|
Advent Claymore Global Convertible Securities & Income Fund(a) |
|
39,000 |
|
639,990 |
|
|
|
Calamos Convertible and High Income Fund(a) |
|
196,612 |
|
3,016,028 |
|
|
|
Nicholas-Applegate Equity & Convertible Income Fund(a) |
|
29,650 |
|
690,252 |
|
|
|
|
|
|
|
4,346,270 |
|
|
|
COVERED CALL 2.3% |
|
|
|
|
|
|
|
Dow 30 Enhanced Premium and Income Fund(a) |
|
216,172 |
|
3,841,376 |
|
|
|
ING Risk Managed Natural Resources Fund(a) |
|
201,131 |
|
3,714,890 |
|
|
|
Nasdaq Premium Income & Growth Fund(a) |
|
162,500 |
|
3,053,375 |
|
|
|
|
|
|
|
10,609,641 |
|
|
|
EQUITY DIVIDEND 1.6% |
|
|
|
|
|
|
|
Alpine Total Dynamic Dividend Fund(a) |
|
198,000 |
|
3,890,700 |
|
|
|
Evergreen Global Dividend Opportunity Fund(a) |
|
204,000 |
|
3,723,000 |
|
|
|
|
|
|
|
7,613,700 |
|
|
|
HIGH YIELD 0.4% |
|
|
|
|
|
|
|
PIMCO Corporate Opportunity Fund(a) |
|
106,420 |
|
1,585,658 |
|
|
|
Pioneer High Income Trust(a) |
|
3,190 |
|
53,401 |
|
|
|
|
|
|
|
1,639,059 |
|
|
|
PREFERRED 0.2% |
|
|
|
|
|
|
|
BlackRock Preferred and Equity Advantage Trust(a) |
|
50,500 |
|
953,945 |
|
|
10
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
SENIOR LOAN 1.7% |
|
|
|
|
|
|
|
Clough Global Opportunities Fund(a) |
|
228,385 |
|
$ |
4,005,873 |
|
|
Highland Credit Strategies Fund(a) |
|
215,088 |
|
3,936,110 |
|
|
|
|
|
|
|
7,941,983 |
|
|
|
TAX ADVANTAGED DIVIDEND 1.7% |
|
|
|
|
|
|
|
Eaton Vance Tax-Managed Diversified Equity Income Fund(a) |
|
224,088 |
|
3,973,080 |
|
|
|
Eaton Vance Tax-Managed Global Diversified Equity Income Fund(a) |
|
219,164 |
|
3,749,896 |
|
|
|
|
|
|
|
7,722,976 |
|
|
|
TOTAL
CLOSED-END FUNDS |
|
|
|
40,827,574 |
|
|
|
|
|
|
|
|
|
|
|
PREFERRED SECURITIES—$25 PAR VALUE 2.8% |
|
|
|
|
|
|
|
BERMUDA 0.7% |
|
|
|
|
|
|
|
INSURANCE |
|
|
|
|
|
|
|
PROPERTY CASUALTY 0.3% |
|
|
|
|
|
|
|
Arch Capital Group Ltd., 8.00%(a) |
|
31,800 |
|
812,490 |
|
|
|
Arch Capital Group Ltd., 7.875%, Series B (a) |
|
20,000 |
|
501,000 |
|
|
|
|
|
|
|
1,313,490 |
|
|
|
REINSURANCE 0.4% |
|
|
|
|
|
|
|
Axis Capital Holdings Ltd., 7.25%, Series A (a) |
|
36,400 |
|
868,140 |
|
|
|
Axis Capital Holdings Ltd., 7.50%, Series B ($100 par value)(a) |
|
10,000 |
|
1,004,333 |
|
|
|
|
|
|
|
1,872,473 |
|
|
|
TOTAL BERMUDA |
|
|
|
3,185,963 |
|
|
|
|
|
|
|
|
|
|
|
NETHERLANDS 0.7% |
|
|
|
|
|
|
|
INSURANCE—MULTI-LINE |
|
|
|
|
|
|
|
ING Groep N.V., 7.05% (a) |
|
53,120 |
|
1,284,442 |
|
|
|
ING Groep N.V., 7.375% (b) |
|
79,400 |
|
1,969,120 |
|
|
|
|
|
|
|
3,253,562 |
|
|
11
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES 1.4% |
|
|
|
|
|
|
|
REAL ESTATE 1.1% |
|
|
|
|
|
|
|
DIVERSIFIED 0.2% |
|
|
|
|
|
|
|
iStar Financial, 7.80%, Series F(a) |
|
20,000 |
|
$ |
455,600 |
|
|
iStar Financial, 7.50%, Series I(a) |
|
20,000 |
|
438,400 |
|
|
|
|
|
|
|
894,000 |
|
|
|
HOTEL 0.6% |
|
|
|
|
|
|
|
Ashford Hospitality Trust, 8.45%, Series D(a) |
|
97,853 |
|
2,279,975 |
|
|
|
Hospitality Properties Trust, 7.00%, Series C(a) |
|
25,000 |
|
543,750 |
|
|
|
|
|
|
|
2,823,725 |
|
|
|
RESIDENTIAL— APARTMENT 0.3% |
|
|
|
|
|
|
|
Apartment Investment & Management Co., 7.75%, Series U(a) |
|
60,000 |
|
1,479,000 |
|
|
|
TOTAL REAL ESTATE |
|
|
|
5,196,725 |
|
|
|
|
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 0.3% |
|
|
|
|
|
|
|
Telephone & Data Systems, 7.60%, due 12/1/41, Series A(a) |
|
55,019 |
|
1,297,898 |
|
|
|
TOTAL UNITED STATES |
|
|
|
6,494,623 |
|
|
|
TOTAL
PREFERRED SECURITIES— $25 PAR VALUE |
|
|
|
12,934,148 |
|
|
|
|
|
|
|
|
|
|
|
PREFERRED SECURITIES— CAPITAL SECURITIES 5.2% |
|
|
|
|
|
|
|
BERMUDA 0.2% |
|
|
|
|
|
|
|
INSURANCE— MULTI-LINE |
|
|
|
|
|
|
|
Catlin Insurance Co., 7.249%, 144A(c) |
|
1,000,000 |
|
944,770 |
|
|
|
|
|
|
|
|
|
|
|
FRANCE 0.4% |
|
|
|
|
|
|
|
BANK |
|
|
|
|
|
|
|
BNP Paribas, 7.195%, due 6/29/49, 144A(c) |
|
2,000,000 |
|
1,995,302 |
|
|
|
|
|
|
|
|
|
|
|
UNITED KINGDOM 1.6% |
|
|
|
|
|
|
|
BANK 0.3% |
|
|
|
|
|
|
|
Standard Chartered PLC, 7.014%, 144A(c) |
|
1,500,000 |
|
1,428,249 |
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICE 0.7% |
|
|
|
|
|
|
|
Old Mutual Capital Funding, 8.00%, due 5/29/49 (Eurobond) |
|
3,000,000 |
|
3,052,200 |
|
|
12
|
|
|
Number |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
FINANCE—INVESTMENT MANAGEMENT 0.6% |
|
|
|
|
|
|
|
Aberdeen Asset Management, 7.90%, due 12/31/49 |
|
3,000,000 |
|
$ |
2,898,750 |
|
|
TOTAL UNITED KINGDOM |
|
|
|
7,379,199 |
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES 3.0% |
|
|
|
|
|
|
|
FINANCE 0.5% |
|
|
|
|
|
|
|
CREDIT CARD 0.3% |
|
|
|
|
|
|
|
Capital One Capital III, 7.686%, due 8/15/36 |
|
1,500,000 |
|
1,478,046 |
|
|
|
|
|
|
|
|
|
|
|
DIVERSIFIED FINANCIAL SERVICE 0.2% |
|
|
|
|
|
|
|
Webster Capital Trust IV, 7.65%, due 6/15/37 |
|
1,000,000 |
|
1,002,266 |
|
|
|
TOTAL FINANCE |
|
|
|
2,480,312 |
|
|
|
|
|
|
|
|
|
|
|
INSURANCE—LIFE/HEALTH INSURANCE 1.0% |
|
|
|
|
|
|
|
Liberty Mutual Group, 7.80%, due 3/15/37, 144A(c) |
|
5,000,000 |
|
4,879,785 |
|
|
|
|
|
|
|
|
|
|
|
OIL—EXPLORATION AND PRODUCTION 0.7% |
|
|
|
|
|
|
|
Pemex Project Funding Master Trust, 7.75% |
|
3,000,000 |
|
3,056,250 |
|
|
|
|
|
|
|
|
|
|
|
PIPELINES 0.8% |
|
|
|
|
|
|
|
Enterprise Products Operating LP, 8.375%, due 8/1/66 |
|
3,500,000 |
|
3,602,718 |
|
|
|
TOTAL UNITED STATES |
|
|
|
14,019,065 |
|
|
|
TOTAL
PREFERRED SECURITIES—CAPITAL SECURITIES |
|
|
|
24,338,336 |
|
|
|
|
|
Principal |
|
|
|
|
|
|
|
|
|
|
|
|
|
CORPORATE BONDS 1.9% |
|
|
|
|
|
|
|
UNITED KINGDOM 0.2% |
|
|
|
|
|
|
|
BANK |
|
|
|
|
|
|
|
Royal Bank of Scotland Group PLC, 7.64%, due 3/31/49 |
|
$ |
1,000,000 |
|
1,039,100 |
|
|
|
|
|
|
|
|
|
|
UNITED STATES 1.7% |
|
|
|
|
|
|
|
TELECOMMUNICATION SERVICES 1.5% |
|
|
|
|
|
|
|
Citizens Communications Co., 9.00%, due 8/15/31 |
|
5,000,000 |
|
5,100,000 |
|
|
|
Embarq Corp., 7.995%, due 6/1/36 |
|
1,500,000 |
|
1,602,906 |
|
|
|
|
|
|
|
6,702,906 |
|
|
13
|
|
|
|
|
Principal |
|
Value |
|
||
|
|
|
|
|
|
|
|
|
||
|
UTILITY 0.2% |
|
|
|
|
|
|
|
||
|
Enbridge Energy Partners LP, due 10/1/37 |
|
|
|
$ |
1,000,000 |
|
$ |
1,018,287 |
|
|
TOTAL UNITED STATES |
|
|
|
|
|
7,721,193 |
|
||
|
TOTAL
CORPORATE BONDS |
|
|
|
|
|
8,760,293 |
|
||
|
|
|
|
|
|
|
|
|
||
|
COMMERCIAL PAPER 0.1% |
|
|
|
|
|
|
|
||
|
San Paolo
U.S. Finance Co., 4.15%, due 10/1/07 |
|
|
|
691,000 |
|
691,000 |
|
||
|
|
|
|
|
|
|
|
|
||
|
TOTAL INVESTMENTS (Identified cost—$445,494,619) |
|
100.7 |
% |
|
|
469,484,162 |
|
||
|
|
|
|
|
|
|
|
|
||
|
WRITTEN CALL OPTIONS |
|
(0.7 |
)% |
|
|
(3,259,425 |
) |
||
|
|
|
|
|
|
|
|
|
||
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
|
0.0 |
% |
|
|
(231,854 |
) |
||
|
|
|
|
|
|
|
|
|
||
|
NET ASSETS
APPLICABLE TO COMMON SHARES |
|
100.0 |
% |
|
|
$ |
465,992,883 |
|
|
14
|
Written Call Options |
|
|
|
Number of Contracts |
|
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
GERMANY |
|
|
|
|
|
|
|
|
|
Euro Stoxx 50 Index, Strike Price 3,868.30, 10/19/07 |
|
EUR |
|
2,787 |
|
$ |
147,678 |
|
|
Euro Stoxx 50 Index, Strike Price 3,837.09, 10/19/07 |
|
EUR |
|
2,233 |
|
167,868 |
|
|
|
Euro Stoxx 50 Index, Strike Price 3,837.44, 10/19/07 |
|
EUR |
|
2,421 |
|
184,904 |
|
|
|
Euro Stoxx 50 Index, Strike Price 3,848.15, 10/19/07 |
|
EUR |
|
2,786 |
|
190,230 |
|
|
|
TOTAL GERMANY |
|
|
|
|
|
690,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
JAPAN |
|
|
|
|
|
|
|
|
|
Nikkei 225 Index, Strike Price 16,696.00, 10/19/07 |
|
JPY |
|
56,293 |
|
180,643 |
|
|
|
Nikkei 225 Index, Strike Price 16,488.25, 10/19/07 |
|
JPY |
|
67,000 |
|
292,102 |
|
|
|
TOTAL JAPAN |
|
|
|
|
|
472,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
UNITED STATES |
|
|
|
|
|
|
|
|
|
S&P 500 Index, Strike Price 1,535.00, 10/20/07 |
|
USD |
|
1,048 |
|
2,096,000 |
|
|
|
TOTAL
WRITTEN OPTIONS |
|
|
|
|
|
$ |
3,259,425 |
|
|
Glossary of Portfolio Abbreviations |
|||
|
|
|||
|
|
ADR |
|
American Depositary Receipt |
|
|
EUR |
|
Euro |
|
|
JPY |
|
Japanese Yen |
|
|
USD |
|
United States Dollar |
|
Note: Percentages indicated are based on the net assets of the fund. |
||
|
(a) |
|
A portion or all of the security has been segregated in connection with written option contracts; $32,944,852 has been pledged to brokers and $236,060,402 has been segregated by the custodian. |
|
(b) |
|
Fair valued security. Aggregate holdings equal 0.4% of net assets. |
|
(c) |
|
Resale is restricted to qualified institutional investors. Aggregate holdings equal 2.0% of net assets. |
15
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. Exchange-traded options are valued at their last sales price as of the close of options trading on applicable exchanges. In the absence of a last sale, options are valued at the average of the quoted bid and asked prices as of the close of business. Over-the-counter options quotations are provided by the respective counterparty.
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 National Quotation Bureau, 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 preceding 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.
Note 2. Subsequent Event: On October 19, 2007, the fund issued 3,600 auction market preferred shares, Series W7 (par value $0.001). Proceeds paid to the fund amounted to $88,850,000 after the deduction of underwriting commissions and offering expenses of $1,150,000. This issue has received a “AAA/Aaa” rating from Standard and Poor’s and Moody’s.
Note 3. Income Tax Information
As of September 30, 2007, the federal tax cost and net unrealized appreciation were as follows:
|
Cost for federal income tax purposes |
|
$ |
445,494,619 |
|
|
|
|
|
|
|
|
Gross unrealized appreciation |
|
$ |
26,719,607 |
|
|
Gross unrealized depreciation |
|
(2,730,064 |
) |
|
|
Net unrealized appreciation |
|
$ |
23,989,543 |
|
Note 4. Written Option Transactions
Transactions in options written during the period July 27, 2007 (commencement of operations)
through September 30, 2007 were as follows:
|
|
|
Number of |
|
|
|
|
|
|
|
Contracts |
|
Premium |
|
|
|
|
|
|
|
|
|
|
|
Options outstanding at July 27, 2007 |
|
— |
|
$ |
— |
|
|
|
|
|
|
|
|
|
|
Options written |
|
256,318 |
|
9,432,264 |
|
|
|
Options expired |
|
(523 |
) |
(55,965 |
) |
|
|
Options exercised |
|
— |
|
— |
|
|
|
Options terminated in closing transactions |
|
(121,227 |
) |
(5,506,659 |
) |
|
|
|
|
|
|
|
|
|
|
Options outstanding at September 30, 2007 |
|
134,568 |
|
$ |
3,869,640 |
|
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 GLOBAL INCOME BUILDER, INC.
|
By: |
/s/ Adam M. Derechin |
|
|
Name: Adam M. Derechin |
|
||
|
Title: President |
|
||
|
|
|
||
|
Date: November 29, 2007 |
|
||
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 |
Title: Treasurer and principal |
||||
|
executive officer |
financial officer |
||||
|
|
|
|
|||
|
Date: November 29, 2007 |
|
||||