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 280 Park Avenue New York, NY 10017 | ||||||||
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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, 2011 |
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Item 1. Schedule of Investments
“INB-NQ inserts”
COHEN & STEERS GLOBAL INCOME BUILDER, INC.
SCHEDULE OF INVESTMENTS
September 30, 2011 (Unaudited)
|
|
|
Number |
|
Value |
| |
|
COMMON STOCK 118.5% |
|
|
|
|
| |
|
AUSTRALIA 4.2% |
|
|
|
|
| |
|
BANK 1.2% |
|
|
|
|
| |
|
Australia and New Zealand Banking Group Ltd.(a),(b) |
|
142,761 |
|
$ |
2,649,814 |
|
|
INDUSTRIALS—HIGHWAYS & RAILTRACKS 1.1% |
|
|
|
|
| |
|
Transurban Group(b) |
|
500,000 |
|
2,599,578 |
| |
|
MATERIALS 1.3% |
|
|
|
|
| |
|
BHP Billiton Ltd.(a),(b) |
|
88,787 |
|
2,939,776 |
| |
|
REAL ESTATE—DIVERSIFIED 0.6% |
|
|
|
|
| |
|
GPT Group(b) |
|
446,875 |
|
1,344,085 |
| |
|
TOTAL AUSTRALIA |
|
|
|
9,533,253 |
| |
|
BRAZIL 2.9% |
|
|
|
|
| |
|
INDUSTRIALS—HIGHWAYS & RAILTRACKS 1.2% |
|
|
|
|
| |
|
CCR SA |
|
100,000 |
|
2,603,377 |
| |
|
OFFICE 0.4% |
|
|
|
|
| |
|
BR Properties SA |
|
111,570 |
|
1,013,491 |
| |
|
RETAIL 0.6% |
|
|
|
|
| |
|
BR Malls Participacoes SA |
|
122,099 |
|
1,247,452 |
| |
|
UTILITIES—WATER 0.7% |
|
|
|
|
| |
|
Cia de Saneamento Basico do Estado de Sao Paulo, ADR(c) |
|
35,100 |
|
1,626,885 |
| |
|
TOTAL BRAZIL |
|
|
|
6,491,205 |
| |
|
CANADA 5.2% |
|
|
|
|
| |
|
BANK 1.3% |
|
|
|
|
| |
|
Toronto-Dominion Bank (USD) |
|
42,000 |
|
2,979,900 |
| |
|
FINANCIAL 1.1% |
|
|
|
|
| |
|
Power Corp.(a) |
|
109,500 |
|
2,400,244 |
| |
|
INDUSTRIAL 0.3% |
|
|
|
|
| |
|
Finning International |
|
42,000 |
|
767,535 |
| |
|
MATERIALS—CHEMICALS 0.6% |
|
|
|
|
| |
|
Potash Corp. of Saskatchewan |
|
30,500 |
|
1,324,315 |
| |
|
|
|
Number |
|
Value |
| |
|
RESTAURANT 0.5% |
|
|
|
|
| |
|
Tim Hortons |
|
25,000 |
|
$ |
1,162,086 |
|
|
TELECOMMUNICATION SERVICES 0.9% |
|
|
|
|
| |
|
Rogers Communications |
|
59,000 |
|
2,019,592 |
| |
|
TRANSPORT—RAIL 0.5% |
|
|
|
|
| |
|
Canadian National Railway Co. |
|
17,000 |
|
1,136,091 |
| |
|
TOTAL CANADA |
|
|
|
11,789,763 |
| |
|
FRANCE 4.5% |
|
|
|
|
| |
|
CONSUMER DISCRETIONARY—CABLE & SATELLITE 0.9% |
|
|
|
|
| |
|
Eutelsat Communications(a),(b) |
|
50,000 |
|
2,008,602 |
| |
|
CONSUMER STAPLES 0.9% |
|
|
|
|
| |
|
Danone SA(a),(b) |
|
32,000 |
|
1,967,144 |
| |
|
ENERGY—OIL & GAS 0.9% |
|
|
|
|
| |
|
Total SA(a),(b) |
|
46,181 |
|
2,037,478 |
| |
|
MATERIALS 0.3% |
|
|
|
|
| |
|
Lafarge SA(a),(b) |
|
24,400 |
|
838,604 |
| |
|
UTILITIES—MULTI UTILITIES 1.5% |
|
|
|
|
| |
|
GDF Suez(a),(b) |
|
112,413 |
|
3,339,978 |
| |
|
TOTAL FRANCE |
|
|
|
10,191,806 |
| |
|
GERMANY 4.7% |
|
|
|
|
| |
|
AUTOMOTIVE 0.8% |
|
|
|
|
| |
|
Bayerische Motoren Werke AG(a),(b) |
|
26,300 |
|
1,737,410 |
| |
|
INDUSTRIAL 1.2% |
|
|
|
|
| |
|
Siemens AG(a),(b) |
|
31,000 |
|
2,789,081 |
| |
|
INSURANCE 1.2% |
|
|
|
|
| |
|
Allianz SE(a),(b) |
|
28,100 |
|
2,633,790 |
| |
|
RESIDENTIAL 0.5% |
|
|
|
|
| |
|
Deutsche Wohnen AG(a),(b) |
|
91,310 |
|
1,213,214 |
| |
|
SOFTWARE 1.0% |
|
|
|
|
| |
|
SAP AG(a),(b) |
|
42,000 |
|
2,137,053 |
| |
|
TOTAL GERMANY |
|
|
|
10,510,548 |
| |
|
|
|
Number |
|
Value |
| |
|
HONG KONG 5.7% |
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.4% |
|
|
|
|
| |
|
CNOOC Ltd.(a),(b) |
|
509,000 |
|
$ |
815,900 |
|
|
FINANCE—INVESTMENT BANKERS/BROKERS 0.3% |
|
|
|
|
| |
|
Hong Kong Exchanges and Clearing Ltd.(a),(b) |
|
52,500 |
|
762,884 |
| |
|
INDUSTRIALS 0.8% |
|
|
|
|
| |
|
Hutchison Whampoa Ltd.(a),(b) |
|
225,000 |
|
1,665,100 |
| |
|
REAL ESTATE 1.8% |
|
|
|
|
| |
|
DIVERSIFIED 0.7% |
|
|
|
|
| |
|
Sun Hung Kai Properties Ltd.(b) |
|
134,000 |
|
1,537,249 |
| |
|
Wharf Holdings Ltd.(a),(b) |
|
200 |
|
989 |
| |
|
|
|
|
|
1,538,238 |
| |
|
OFFICE 0.6% |
|
|
|
|
| |
|
Hongkong Land Holdings Ltd. (USD)(b) |
|
310,000 |
|
1,373,480 |
| |
|
RESIDENTIAL 0.5% |
|
|
|
|
| |
|
China Overseas Land & Investment Ltd.(b) |
|
840,000 |
|
1,197,633 |
| |
|
TOTAL REAL ESTATE |
|
|
|
4,109,351 |
| |
|
RETAIL 0.2% |
|
|
|
|
| |
|
Esprit Holdings Ltd.(b) |
|
421,637 |
|
513,315 |
| |
|
TELECOMMUNICATION SERVICES 0.5% |
|
|
|
|
| |
|
China Mobile Ltd.(a),(b) |
|
116,500 |
|
1,139,561 |
| |
|
UTILITIES—ELECTRIC UTILITIES 1.7% |
|
|
|
|
| |
|
CLP Holdings Ltd.(a),(b) |
|
419,000 |
|
3,766,832 |
| |
|
TOTAL HONG KONG |
|
|
|
12,772,943 |
| |
|
IRELAND 0.9% |
|
|
|
|
| |
|
HEALTH CARE |
|
|
|
|
| |
|
Covidien PLC (USD) |
|
44,300 |
|
1,953,630 |
| |
|
ISRAEL 0.4% |
|
|
|
|
| |
|
PHARMACEUTICAL |
|
|
|
|
| |
|
Teva Pharmaceutical Industries Ltd., ADR(c) |
|
25,784 |
|
959,680 |
| |
|
|
|
Number |
|
Value |
| |
|
ITALY 2.3% |
|
|
|
|
| |
|
ENERGY—OIL & GAS 0.9% |
|
|
|
|
| |
|
Eni S.p.A.(a),(b) |
|
116,800 |
|
$ |
2,054,830 |
|
|
UTILITIES—GAS UTILITIES 1.4% |
|
|
|
|
| |
|
Snam Rete Gas S.p.A.(a),(b) |
|
700,482 |
|
3,233,853 |
| |
|
TOTAL ITALY |
|
|
|
5,288,683 |
| |
|
JAPAN 8.8% |
|
|
|
|
| |
|
APPAREL 0.5% |
|
|
|
|
| |
|
Fast Retailing Co., Ltd.(b) |
|
6,000 |
|
1,074,582 |
| |
|
AUTOMOTIVE 0.9% |
|
|
|
|
| |
|
Toyota Motor Corp.(b) |
|
59,000 |
|
2,022,471 |
| |
|
BANK 0.2% |
|
|
|
|
| |
|
Sumitomo Mitsui Trust Holdings(b) |
|
153,000 |
|
506,414 |
| |
|
HEALTH CARE 1.2% |
|
|
|
|
| |
|
Astellas Pharma(b) |
|
43,800 |
|
1,653,315 |
| |
|
Eisai Co., Ltd.(a),(b) |
|
25,200 |
|
1,016,782 |
| |
|
|
|
|
|
2,670,097 |
| |
|
INDUSTRIAL 2.4% |
|
|
|
|
| |
|
Fanuc Ltd.(a),(b) |
|
16,600 |
|
2,286,581 |
| |
|
Secom Co., Ltd.(a),(b) |
|
63,800 |
|
3,077,240 |
| |
|
|
|
|
|
5,363,821 |
| |
|
INSURANCE 0.2% |
|
|
|
|
| |
|
NKSJ Holdings(a),(b) |
|
21,250 |
|
471,736 |
| |
|
MATERIALS 0.1% |
|
|
|
|
| |
|
Sumitomo Metal Mining Co., Ltd.(b) |
|
29,000 |
|
383,967 |
| |
|
TECHNOLOGY 2.7% |
|
|
|
|
| |
|
Canon(a),(b) |
|
35,400 |
|
1,607,374 |
| |
|
Kyocera Corp.(b) |
|
16,800 |
|
1,404,743 |
| |
|
Sony Corp.(b) |
|
100,000 |
|
1,914,197 |
| |
|
TDK Corp.(b) |
|
31,800 |
|
1,109,295 |
| |
|
|
|
|
|
6,035,609 |
| |
|
|
|
Number |
|
Value |
| |
|
TELECOMMUNICATION SERVICES 0.6% |
|
|
|
|
| |
|
KDDI Corp.(b) |
|
200 |
|
$ |
1,376,872 |
|
|
TOTAL JAPAN |
|
|
|
19,905,569 |
| |
|
MEXICO 0.7% |
|
|
|
|
| |
|
RETAIL 0.4% |
|
|
|
|
| |
|
Wal-Mart de Mexico SA de CV |
|
410,600 |
|
941,495 |
| |
|
TELECOMMUNICATION SERVICES 0.3% |
|
|
|
|
| |
|
America Movil SAB de CV |
|
473,400 |
|
522,608 |
| |
|
TOTAL MEXICO |
|
|
|
1,464,103 |
| |
|
NETHERLANDS 1.3% |
|
|
|
|
| |
|
INDUSTRIALS—MARINE PORTS & SERVICES |
|
|
|
|
| |
|
Koninklijke Vopak NV(b) |
|
60,000 |
|
2,867,669 |
| |
|
PHILIPPINES 0.6% |
|
|
|
|
| |
|
RETAIL |
|
|
|
|
| |
|
SM Prime Holdings(b) |
|
4,762,200 |
|
1,323,030 |
| |
|
SINGAPORE 1.0% |
|
|
|
|
| |
|
INDUSTRIALS—MARINE PORTS & SERVICES 0.0% |
|
|
|
|
| |
|
Hutchison Port Holdings Trust (USD)(b) |
|
17,100 |
|
11,414 |
| |
|
RETAIL 0.5% |
|
|
|
|
| |
|
CapitaMall Trust(b) |
|
839,000 |
|
1,163,505 |
| |
|
SEMICONDUCTORS 0.5% |
|
|
|
|
| |
|
Avago Technologies Ltd. (USD) (c) |
|
36,000 |
|
1,179,720 |
| |
|
TOTAL SINGAPORE |
|
|
|
2,354,639 |
| |
|
SPAIN 0.5% |
|
|
|
|
| |
|
TELECOMMUNICATION SERVICES |
|
|
|
|
| |
|
Telefonica SA(a),(b) |
|
53,000 |
|
1,015,734 |
| |
|
SWITZERLAND 5.9% |
|
|
|
|
| |
|
FOOD 2.3% |
|
|
|
|
| |
|
Nestle SA(a),(b) |
|
93,320 |
|
5,137,516 |
| |
|
HEALTH CARE 2.7% |
|
|
|
|
| |
|
Novartis AG(a),(b) |
|
109,300 |
|
6,105,681 |
| |
|
|
|
Number |
|
Value |
| |
|
MATERIALS—CHEMICALS 0.9% |
|
|
|
|
| |
|
Syngenta AG(a),(b),(d) |
|
7,500 |
|
$ |
1,949,009 |
|
|
TOTAL SWITZERLAND |
|
|
|
13,192,206 |
| |
|
UNITED KINGDOM 10.3% |
|
|
|
|
| |
|
BANK 1.2% |
|
|
|
|
| |
|
Barclays PLC(a),(b) |
|
570,000 |
|
1,397,844 |
| |
|
HSBC Holdings PLC(a),(b) |
|
182,166 |
|
1,395,263 |
| |
|
|
|
|
|
2,793,107 |
| |
|
CONSUMER DISCRETIONARY 1.3% |
|
|
|
|
| |
|
Reckitt Benckiser Group PLC(a),(b) |
|
58,800 |
|
2,979,280 |
| |
|
CONSUMER—NON-CYCLICAL—AGRICULTURE 0.5% |
|
|
|
|
| |
|
British American Tobacco PLC(a),(b) |
|
24,300 |
|
1,026,075 |
| |
|
DIVERSIFIED 0.4% |
|
|
|
|
| |
|
Hammerson PLC(b) |
|
167,717 |
|
981,895 |
| |
|
ENERGY 1.6% |
|
|
|
|
| |
|
INTEGRATED OIL & GAS 1.2% |
|
|
|
|
| |
|
Royal Dutch Shell PLC(a),(b) |
|
84,424 |
|
2,608,448 |
| |
|
OIL & GAS EQUIPMENT & SERVICES 0.4% |
|
|
|
|
| |
|
Ensco PLC, ADR(c) |
|
24,000 |
|
970,320 |
| |
|
TOTAL ENERGY |
|
|
|
3,578,768 |
| |
|
HEALTH CARE 2.2% |
|
|
|
|
| |
|
GlaxoSmithKline PLC(a),(b) |
|
239,200 |
|
4,935,913 |
| |
|
TELECOMMUNICATION SERVICES 1.4% |
|
|
|
|
| |
|
Vodafone Group PLC(a),(b) |
|
1,210,000 |
|
3,118,508 |
| |
|
UTILITIES—MULTI UTILITIES 1.7% |
|
|
|
|
| |
|
National Grid PLC(a),(b) |
|
375,000 |
|
3,717,003 |
| |
|
TOTAL UNITED KINGDOM |
|
|
|
23,130,549 |
| |
|
UNITED STATES 58.6% |
|
|
|
|
| |
|
AUTOMOTIVE 0.3% |
|
|
|
|
| |
|
Ford Motor Co.(a),(d) |
|
81,000 |
|
783,270 |
| |
|
|
|
Number |
|
Value |
| |
|
CONSUMER—CYCLICAL 6.0% |
|
|
|
|
| |
|
MEDIA 1.6% |
|
|
|
|
| |
|
The Walt Disney Co.(a),(c) |
|
66,000 |
|
$ |
1,990,560 |
|
|
Time Warner Cable(c) |
|
25,000 |
|
1,566,750 |
| |
|
|
|
|
|
3,557,310 |
| |
|
RESTAURANT 2.2% |
|
|
|
|
| |
|
McDonald’s Corp.(a),(c) |
|
55,539 |
|
4,877,435 |
| |
|
RETAIL 1.6% |
|
|
|
|
| |
|
Nordstrom(a),(c) |
|
40,340 |
|
1,842,731 |
| |
|
Ross Stores(a) |
|
22,900 |
|
1,802,001 |
| |
|
|
|
|
|
3,644,732 |
| |
|
SPECIALTY RETAIL 0.6% |
|
|
|
|
| |
|
PetSmart (c) |
|
13,400 |
|
571,510 |
| |
|
Tiffany & Co. |
|
15,000 |
|
912,300 |
| |
|
|
|
|
|
1,483,810 |
| |
|
TOTAL CONSUMER—CYCLICAL |
|
|
|
13,563,287 |
| |
|
CONSUMER—NON-CYCLICAL 4.3% |
|
|
|
|
| |
|
AGRICULTURE 1.1% |
|
|
|
|
| |
|
Philip Morris International(a),(c) |
|
40,233 |
|
2,509,734 |
| |
|
BASIC MATERIALS 0.4% |
|
|
|
|
| |
|
Archer-Daniels-Midland Co.(a),(c) |
|
38,379 |
|
952,183 |
| |
|
BEVERAGE 0.7% |
|
|
|
|
| |
|
PepsiCo(a),(c) |
|
25,710 |
|
1,591,449 |
| |
|
COSMETICS/PERSONAL CARE 1.6% |
|
|
|
|
| |
|
Procter & Gamble Co.(a),(c) |
|
55,076 |
|
3,479,702 |
| |
|
RETAIL 0.5% |
|
|
|
|
| |
|
CVS Caremark Corp.(a),(c) |
|
32,000 |
|
1,074,560 |
| |
|
TOTAL CONSUMER— NON-CYCLICAL |
|
|
|
9,607,628 |
| |
|
|
|
Number |
|
Value |
| |
|
ENERGY 9.1% |
|
|
|
|
| |
|
OIL & GAS 6.7% |
|
|
|
|
| |
|
Apache Corp.(a) |
|
20,200 |
|
$ |
1,620,848 |
|
|
Chevron Corp.(a),(c) |
|
45,130 |
|
4,175,427 |
| |
|
Devon Energy Corp.(a),(c) |
|
32,273 |
|
1,789,215 |
| |
|
Exxon Mobil Corp. |
|
64,847 |
|
4,709,838 |
| |
|
Marathon Petroleum Corp.(a),(c) |
|
42,000 |
|
1,136,520 |
| |
|
Occidental Petroleum Corp.(a) |
|
23,800 |
|
1,701,700 |
| |
|
|
|
|
|
15,133,548 |
| |
|
OIL & GAS SERVICES 0.7% |
|
|
|
|
| |
|
Schlumberger Ltd.(a),(c) |
|
26,798 |
|
1,600,645 |
| |
|
OIL & GAS STORAGE & TRANSPORTATION 1.7% |
|
|
|
|
| |
|
MarkWest Energy Partners LP(c) |
|
82,393 |
|
3,785,958 |
| |
|
TOTAL ENERGY |
|
|
|
20,520,151 |
| |
|
FINANCIAL 6.8% |
|
|
|
|
| |
|
BANK 2.3% |
|
|
|
|
| |
|
Bank of America Corp.(a) |
|
90,900 |
|
556,308 |
| |
|
Comerica |
|
35,000 |
|
803,950 |
| |
|
US Bancorp(a),(c) |
|
108,072 |
|
2,544,015 |
| |
|
Wells Fargo & Co.(a),(c) |
|
52,987 |
|
1,278,047 |
| |
|
|
|
|
|
5,182,320 |
| |
|
CREDIT CARD 1.0% |
|
|
|
|
| |
|
American Express Co.(a),(c) |
|
48,000 |
|
2,155,200 |
| |
|
DIVERSIFIED FINANCIAL SERVICE 2.4% |
|
|
|
|
| |
|
Citigroup(a),(c) |
|
51,311 |
|
1,314,588 |
| |
|
Goldman Sachs Group(a),(c) |
|
9,200 |
|
869,860 |
| |
|
JPMorgan Chase & Co.(a),(c) |
|
106,794 |
|
3,216,635 |
| |
|
|
|
|
|
5,401,083 |
| |
|
INSURANCE 1.1% |
|
|
|
|
| |
|
Prudential Financial(a),(c) |
|
54,000 |
|
2,530,440 |
| |
|
TOTAL FINANCIAL |
|
|
|
15,269,043 |
| |
|
|
|
Number |
|
Value |
| |
|
HEALTH CARE 3.9% |
|
|
|
|
| |
|
BIOTECHNOLOGY 0.5% |
|
|
|
|
| |
|
Amgen(c) |
|
22,000 |
|
$ |
1,208,900 |
|
|
HEALTHCARE PRODUCTS 1.0% |
|
|
|
|
| |
|
Johnson & Johnson(a),(c) |
|
35,136 |
|
2,238,515 |
| |
|
PHARMACEUTICAL 2.4% |
|
|
|
|
| |
|
Abbott Laboratories(a),(c) |
|
55,363 |
|
2,831,264 |
| |
|
Pfizer(a),(c) |
|
146,384 |
|
2,588,069 |
| |
|
|
|
|
|
5,419,333 |
| |
|
TOTAL HEALTH CARE |
|
|
|
8,866,748 |
| |
|
INDUSTRIAL 6.3% |
|
|
|
|
| |
|
AEROSPACE & DEFENSE 2.1% |
|
|
|
|
| |
|
General Dynamics Corp.(a) |
|
33,019 |
|
1,878,451 |
| |
|
Lockheed Martin Corp.(a) |
|
11,000 |
|
799,040 |
| |
|
United Technologies Corp.(a) |
|
30,973 |
|
2,179,260 |
| |
|
|
|
|
|
4,856,751 |
| |
|
DIVERSIFIED MANUFACTURING 2.6% |
|
|
|
|
| |
|
Caterpillar(a) |
|
17,300 |
|
1,277,432 |
| |
|
Eaton Corp.(a),(c) |
|
39,000 |
|
1,384,500 |
| |
|
General Electric Co.(a),(c) |
|
204,830 |
|
3,121,609 |
| |
|
|
|
|
|
5,783,541 |
| |
|
TRANSPORTATION 1.6% |
|
|
|
|
| |
|
Norfolk Southern Corp.(a),(c) |
|
23,000 |
|
1,403,460 |
| |
|
United Parcel Service(a) |
|
35,260 |
|
2,226,669 |
| |
|
|
|
|
|
3,630,129 |
| |
|
TOTAL INDUSTRIAL |
|
|
|
14,270,421 |
| |
|
MATERIALS 1.7% |
|
|
|
|
| |
|
CHEMICALS 0.4% |
|
|
|
|
| |
|
Dow Chemical Co.(a),(c) |
|
35,000 |
|
786,100 |
| |
|
|
|
Number |
|
Value |
| |
|
METALS & MINING 1.3% |
|
|
|
|
| |
|
Freeport-McMoRan Copper & Gold(a),(c) |
|
25,000 |
|
$ |
761,250 |
|
|
Newmont Mining Corp.(a),(c) |
|
35,100 |
|
2,207,790 |
| |
|
|
|
|
|
2,969,040 |
| |
|
TOTAL MATERIALS |
|
|
|
3,755,140 |
| |
|
REAL ESTATE 4.1% |
|
|
|
|
| |
|
DIVERSIFIED 0.0% |
|
|
|
|
| |
|
Forest City Enterprises(a),(c),(d) |
|
960 |
|
10,234 |
| |
|
OFFICE 1.8% |
|
|
|
|
| |
|
Boston Properties (c) |
|
45,143 |
|
4,022,241 |
| |
|
RESIDENTIAL—APARTMENT 1.9% |
|
|
|
|
| |
|
Avalon Bay Communities(c) |
|
36,471 |
|
4,159,517 |
| |
|
SHOPPING CENTER—REGIONAL MALL 0.4% |
|
|
|
|
| |
|
Simon Property Group(c) |
|
8,970 |
|
986,521 |
| |
|
TOTAL REAL ESTATE |
|
|
|
9,178,513 |
| |
|
TECHNOLOGY 9.6% |
|
|
|
|
| |
|
COMPUTERS 3.5% |
|
|
|
|
| |
|
Apple(a),(c),(d) |
|
14,500 |
|
5,527,110 |
| |
|
International Business Machines Corp.(a),(c) |
|
13,433 |
|
2,351,178 |
| |
|
|
|
|
|
7,878,288 |
| |
|
INTERNET SERVICE PROVIDER 1.0% |
|
|
|
|
| |
|
Google(a),(c),(d) |
|
4,400 |
|
2,263,272 |
| |
|
SERVICES 1.1% |
|
|
|
|
| |
|
Visa, Class A(a) |
|
29,500 |
|
2,528,740 |
| |
|
SOFTWARE 2.5% |
|
|
|
|
| |
|
Microsoft Corp.(a) |
|
44,015 |
|
1,095,533 |
| |
|
Oracle Corp.(a) |
|
81,000 |
|
2,327,940 |
| |
|
Symantec Corp.(a),(d) |
|
125,300 |
|
2,042,390 |
| |
|
|
|
|
|
5,465,863 |
| |
|
|
|
Number |
|
Value |
| |
|
TELECOMMUNICATION EQUIPMENT 1.5% |
|
|
|
|
| |
|
Corning(a),(c) |
|
104,400 |
|
$ |
1,290,384 |
|
|
QUALCOMM(a),(c) |
|
44,000 |
|
2,139,720 |
| |
|
|
|
|
|
3,430,104 |
| |
|
TOTAL TECHNOLOGY |
|
|
|
21,566,267 |
| |
|
TELECOMMUNICATION SERVICES 1.0% |
|
|
|
|
| |
|
AT&T(a) |
|
76,977 |
|
2,195,384 |
| |
|
UTILITIES 5.5% |
|
|
|
|
| |
|
ELECTRIC UTILITIES 3.2% |
|
|
|
|
| |
|
PPL Corp.(c) |
|
110,000 |
|
3,139,400 |
| |
|
Southern Co.(a),(c) |
|
96,885 |
|
4,105,018 |
| |
|
|
|
|
|
7,244,418 |
| |
|
MULTI UTILITIES 2.3% |
|
|
|
|
| |
|
PG&E Corp.(a) |
|
75,000 |
|
3,173,250 |
| |
|
Sempra Energy(a),(c) |
|
37,500 |
|
1,931,250 |
| |
|
|
|
|
|
5,104,500 |
| |
|
TOTAL UTILITIES |
|
|
|
12,348,918 |
| |
|
TOTAL UNITED STATES |
|
|
|
131,924,770 |
| |
|
TOTAL COMMON STOCK (Identified cost—$291,735,628) |
|
|
|
266,669,780 |
| |
|
CLOSED-END FUNDS—UNITED STATES 7.5% |
|
|
|
|
| |
|
ENERGY/ RESOURCES 0.7% |
|
|
|
|
| |
|
ASA Gold and Precious Metals Ltd. |
|
58,800 |
|
1,587,012 |
| |
|
EQUITY TAX-ADVANTAGED 1.3% |
|
|
|
|
| |
|
Eaton Vance Tax-Advantaged Dividend Income Fund(a),(c) |
|
217,600 |
|
2,974,592 |
| |
|
GLOBAL EQUITY DIVIDEND 0.9% |
|
|
|
|
| |
|
Alpine Total Dynamic Dividend Fund(a) |
|
454,400 |
|
2,049,344 |
| |
|
GLOBAL HYBRID (GROWTH & INCOME) 0.2% |
|
|
|
|
| |
|
Clough Global Opportunities Fund(c) |
|
40,485 |
|
427,117 |
| |
|
|
|
Number |
|
Value |
| |
|
GLOBAL INCOME 0.9% |
|
|
|
|
| |
|
First Trust Aberdeen Global Opportunity Income Fund(a) |
|
70,400 |
|
$ |
1,134,848 |
|
|
Western Asset Global High Income Fund(a) |
|
83,300 |
|
967,946 |
| |
|
|
|
|
|
2,102,794 |
| |
|
HIGH YIELD 0.5% |
|
|
|
|
| |
|
New America High Income Fund(a),(c) |
|
128,700 |
|
1,163,448 |
| |
|
MULTI-SECTOR 1.2% |
|
|
|
|
| |
|
PIMCO Income Opportunity Fund(c) |
|
112,500 |
|
2,768,625 |
| |
|
REAL ESTATE 0.9% |
|
|
|
|
| |
|
Alpine Global Premier Properties Fund(a) |
|
363,858 |
|
1,943,001 |
| |
|
U.S. GENERAL EQUITY 0.9% |
|
|
|
|
| |
|
Gabelli Equity Trust(a) |
|
416,400 |
|
1,977,900 |
| |
|
TOTAL CLOSED-END FUNDS (Identified cost—$19,874,159) |
|
|
|
16,993,833 |
| |
|
PREFERRED SECURITIES—$25 PAR VALUE 2.5% |
|
|
|
|
| |
|
BERMUDA 0.8% |
|
|
|
|
| |
|
INSURANCE—REINSURANCE |
|
|
|
|
| |
|
Axis Capital Holdings Ltd., 7.50%, Series B ($100 par value) |
|
20,000 |
|
1,891,876 |
| |
|
NETHERLANDS 0.5% |
|
|
|
|
| |
|
INSURANCE—MULTI-LINE |
|
|
|
|
| |
|
ING Groep N.V., 7.375% |
|
63,000 |
|
1,204,560 |
| |
|
UNITED KINGDOM 0.9% |
|
|
|
|
| |
|
BANK |
|
|
|
|
| |
|
Barclays Bank PLC, 7.75%, Series IV |
|
35,000 |
|
772,100 |
| |
|
National Westminster Bank PLC, 7.76%, Series C |
|
63,373 |
|
1,133,743 |
| |
|
|
|
|
|
1,905,843 |
| |
|
UNITED STATES 0.3% |
|
|
|
|
| |
|
FINANCE—MORTGAGE LOAN/BROKER |
|
|
|
|
| |
|
Countrywide Capital V, 7.00%, due 11/1/36 |
|
35,000 |
|
672,000 |
| |
|
TOTAL PREFERRED SECURITIES—$25 PAR VALUE |
|
|
|
5,674,279 |
| |
|
|
|
Number |
|
Value |
| |
|
PREFERRED SECURITIES—CAPITAL SECURITIES 3.6% |
|
|
|
|
| |
|
BERMUDA 0.4% |
|
|
|
|
| |
|
INSURANCE—REINSURANCE |
|
|
|
|
| |
|
Catlin Insurance Co., 7.249%, due 12/31/49, 144A(e) |
|
1,000,000 |
|
$ |
867,500 |
|
|
CAYMAN ISLANDS 0.9% |
|
|
|
|
| |
|
INTEGRATED TELECOMMUNICATIONS SERVICES |
|
|
|
|
| |
|
Centaur Funding Corp., 9.08%, due 4/21/20, 144A(e) |
|
1,750 |
|
2,026,172 |
| |
|
UNITED KINGDOM 0.3% |
|
|
|
|
| |
|
BANK |
|
|
|
|
| |
|
LBG Capital No.1 PLC, 8.00%, due 12/29/49, 144A(e) |
|
1,000,000 |
|
675,000 |
| |
|
UNITED STATES 2.0% |
|
|
|
|
| |
|
BANK 0.4% |
|
|
|
|
| |
|
PNC Financial Services Group, 6.75%, due 7/29/49, (FRN) |
|
1,000,000 |
|
961,134 |
| |
|
INSURANCE 1.6% |
|
|
|
|
| |
|
MULTI-LINE 0.8% |
|
|
|
|
| |
|
MetLife Capital Trust X, 9.25%, due 4/8/38, 144A(e) |
|
1,500,000 |
|
1,695,000 |
| |
|
PROPERTY CASUALTY 0.8% |
|
|
|
|
| |
|
ACE Capital Trust II, 9.70%, due 4/1/30 |
|
1,500,000 |
|
1,918,446 |
| |
|
TOTAL INSURANCE |
|
|
|
3,613,446 |
| |
|
TOTAL UNITED STATES |
|
|
|
4,574,580 |
| |
|
TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES |
|
|
|
8,143,252 |
| |
|
|
|
Principal |
|
|
|
|
CORPORATE BONDS 0.7% |
|
|
|
|
|
|
UNITED STATES |
|
|
|
|
|
|
INSURANCE—PROPERTY CASUALTY |
|
|
|
|
|
|
Liberty Mutual Insurance, 7.697%, due 10/15/97, 144A(e) |
|
|
|
|
|
|
TOTAL CORPORATE BONDS (Identified cost—$1,342,508) |
|
1,500,000 |
|
1,421,862 |
|
|
|
|
|
|
Number |
|
Value |
| |
|
SHORT-TERM INVESTMENTS 2.3% |
|
|
|
|
|
|
| |
|
MONEY MARKET FUNDS |
|
|
|
|
|
|
| |
|
BlackRock Liquidity Funds: FedFund, 0.01%(f) |
|
|
|
2,550,041 |
|
$ |
2,550,041 |
|
|
Federated Government Obligations Fund, 0.01%(f) |
|
|
|
2,622,137 |
|
2,622,137 |
| |
|
TOTAL SHORT-TERM INVESTMENTS |
|
|
|
|
|
5,172,178 |
| |
|
|
|
|
|
|
|
|
| |
|
TOTAL INVESTMENTS (Identified cost—$332,636,594) |
|
135.1 |
% |
|
|
304,075,184 |
| |
|
|
|
|
|
|
|
|
| |
|
WRITTEN CALL OPTIONS |
|
(0.8 |
) |
|
|
(1,826,096 |
) | |
|
|
|
|
|
|
|
|
| |
|
LIABILITIES IN EXCESS OF OTHER ASSETS |
|
(34.3 |
) |
|
|
(77,230,607 |
) | |
|
|
|
|
|
|
|
|
| |
|
NET ASSETS (Equivalent to $9.75 per share based on 23,073,973 shares of common stock outstanding) |
|
100.0 |
% |
|
|
$ |
225,018,481 |
|
|
|
|
|
|
Number of |
|
|
| |
|
WRITTEN CALL OPTIONS (0.8)% |
|
|
|
|
|
|
| |
|
EUROPE (0.4)% |
|
|
|
|
|
|
| |
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,200, 10/21/11 |
|
|
|
500 |
|
$ |
(515,804 |
) |
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,250, 10/21/11 |
|
|
|
100 |
|
(72,346 |
) | |
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,300, 10/21/11 |
|
|
|
400 |
|
(191,316 |
) | |
|
DJ EuroStoxx 50 Index, EUR Strike Price 2,325, 10/21/11 |
|
|
|
320 |
|
(124,329 |
) | |
|
|
|
|
|
|
|
(903,795 |
) | |
|
|
|
|
|
Number of |
|
Value |
| |
|
UNITED STATES (0.4)% |
|
|
|
|
|
|
| |
|
S&P 500 Index, USD Strike Price 1,200, 10/22/11 |
|
|
|
230 |
|
$ |
(280,600 |
) |
|
S&P 500 Index, USD Strike Price 1,210, 10/22/11 |
|
|
|
230 |
|
(230,000 |
) | |
|
S&P 500 Index, USD Strike Price 1,215, 10/22/11 |
|
|
|
307 |
|
(264,941 |
) | |
|
S&P 500 Index, USD Strike Price 1,230, 10/22/11 |
|
|
|
154 |
|
(83,160 |
) | |
|
S&P 500 Index, USD Strike Price 1,250, 10/22/11 |
|
|
|
212 |
|
(63,600 |
) | |
|
|
|
|
|
|
|
(922,301 |
) | |
|
TOTAL WRITTEN CALL OPTIONS |
|
|
|
|
|
$ |
(1,826,096 |
) |
Glossary of Portfolio Abbreviations
|
|
ADR |
American Depositary Receipt |
|
|
EUR |
Euro Currency |
|
|
FRN |
Floating Rate Note |
|
|
USD |
United States Dollar |
Note: Percentages indicated are based on the net assets of the Fund.
(a) All or a portion of the security is held in connection with the revolving credit agreement; $151,249,741 has been pledged as collateral.
(b) 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 48.9% of the net assets of the Fund, all of which have been fair valued pursuant to foreign fair value pricing procedures approved by the Board of Directors.
(c) A portion or all of the security is held in connection with written option contracts: $49,963,443 has been pledged to brokers.
(d) Non-income producing security.
(e) Resale is restricted to qualified institutional investors. Aggregate holdings equal 3.0% of net assets of the Fund, of which 0.0% are illiquid.
(f) Rate quoted represents the seven day yield of the fund.
Sector Breakdown (Based on Managed Assets)
|
Sector |
|
Value |
|
Percentage |
|
|
|
|
|
|
|
|
|
Miscellaneous |
|
121,973,191 |
|
40.3 |
% |
|
Utilities |
|
28,033,469 |
|
9.3 |
% |
|
Technology |
|
27,601,876 |
|
9.1 |
% |
|
Industrial |
|
24,855,958 |
|
8.2 |
% |
|
Health Care |
|
24,532,069 |
|
8.1 |
% |
|
Energy |
|
24,098,919 |
|
8.0 |
% |
|
Financial |
|
17,669,287 |
|
5.8 |
% |
|
Real Estate |
|
16,574,950 |
|
5.4 |
% |
|
Consumer-Cyclical |
|
13,563,287 |
|
4.4 |
% |
|
Other |
|
4,115,475 |
|
1.4 |
% |
|
Total |
|
303,018,481 |
|
100.0 |
% |
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited)
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 on such day or, if no asked price is available, at the bid price. Exchange traded options are valued at their last sale 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 when such prices are believed by Cohen & Steers Capital Management, Inc. (the investment manager) pursuant to delegation by the Board of Directors, to reflect the fair market value.
Securities not listed on the New York Stock Exchange but listed on other domestic or foreign securities exchanges 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. If after the close of a foreign market, 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.
Readily marketable securities traded in the over-the-counter market, including listed securities whose primary market is believed by the investment manager to be over-the-counter, are valued at the official closing prices as reported by 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 on such 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 investment manager, pursuant to delegation by the Board of Directors, to reflect the fair market value of such securities.
Securities for which market prices are unavailable, or securities for which the investment manager determines that the bid and/or asked price or a counterparty valuation 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, but are not limited to, 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.
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates value. Investments in open-end mutual funds are valued at their closing net asset value.
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. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments 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, 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.
When foreign fair value pricing procedures are utilized, securities are categorized as Level 2. The utilization of these procedures results in transfers between Level 1 and Level 2. 48.9% of net assets of the Fund were fair valued pursuant to foreign fair value pricing procedures approved by the Board of Directors. The following is a summary of the inputs used as of September 30, 2011 in valuing the Fund’s investments carried at value:
|
|
|
Total |
|
Quoted Prices In |
|
Significant Other |
|
Significant |
| ||||
|
Common Stock - Brazil |
|
$ |
6,491,205 |
|
$ |
6,491,205 |
|
$ |
— |
|
$ |
— |
|
|
Common Stock - Canada |
|
11,789,763 |
|
11,789,763 |
|
— |
|
— |
| ||||
|
Common Stock - Ireland |
|
1,953,630 |
|
1,953,630 |
|
— |
|
— |
| ||||
|
Common Stock - Israel |
|
959,680 |
|
959,680 |
|
— |
|
— |
| ||||
|
Common Stock - Mexico |
|
1,464,103 |
|
1,464,103 |
|
— |
|
— |
| ||||
|
Common Stock - Singapore |
|
2,354,639 |
|
1,179,720 |
|
1,174,919 |
|
— |
| ||||
|
Common Stock - United Kindgom |
|
23,130,549 |
|
970,320 |
|
22,160,229 |
|
— |
| ||||
|
Common Stock - United States |
|
131,924,770 |
|
131,924,770 |
|
— |
|
— |
| ||||
|
Common Stock - Other Countries |
|
86,601,441 |
|
— |
|
86,601,441 |
|
— |
| ||||
|
Closed-End Funds |
|
16,993,833 |
|
16,993,833 |
|
— |
|
— |
| ||||
|
Preferred Securities - $25 Par Value - Bermuda |
|
1,891,876 |
|
— |
|
1,891,876 |
|
— |
| ||||
|
Preferred Securities - $25 Par Value - Other Countries |
|
3,782,403 |
|
3,782,403 |
|
— |
|
— |
| ||||
|
Preferred Securities - Capital Securities |
|
8,143,252 |
|
— |
|
8,143,252 |
|
— |
| ||||
|
Corporate Bonds |
|
1,421,862 |
|
— |
|
1,421,862 |
|
— |
| ||||
|
Money Market Funds |
|
5,172,178 |
|
— |
|
5,172,178 |
|
— |
| ||||
|
Total Investments |
|
$ |
304,075,184 |
|
$ |
177,509,427 |
|
$ |
126,565,757 |
|
$ |
— |
|
|
Other Financial Instruments* |
|
$ |
(1,826,096 |
) |
$ |
(1,826,096 |
) |
$ |
— |
|
$ |
— |
|
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
* Other financial instruments are written option contracts.
Note 2. Derivative Instruments: The following is a summary of the market valuations of the Fund’s derivative instruments as of September 30, 2011:
|
Equity contracts |
|
$ |
(1,826,096 |
) |
Options: The Fund may write put or call options on an index and put the covered call options on a security with the intention of earning option premiums. Option premiums may increase the Fund’s realized gains and therefore may help increase distributable income. When a Fund writes (sells) an option, an amount equal to the premium received by the Fund is recorded in the Statement of Assets and Liabilities as a liability. The amount of the liability is subsequently marked-to-market to reflect the current market value of the option written. When an option expires, the Fund realizes a gain on the option to the extent of the premiums received. Premiums received from writing options which are exercised or closed, are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium reduces the cost basis of the security purchased by the Fund. If a call option is exercised, the call premium is added to the proceeds of the security sold to determine its gain or loss. The Fund, as writer of an option, bears the market risk of an unfavorable change in the price of the underlying index or security. Other risks include the possibility of an illiquid options market or the inability of the counterparties to fulfill their obligations under the contract.
Transactions in options written during the nine months ended September 30, 2011, were as follows:
|
|
|
Number |
|
Premium |
| |
|
Options outstanding at December 31, 2010 |
|
2,423 |
|
$ |
2,611,338 |
|
|
Options written |
|
21,350 |
|
23,910,646 |
| |
|
Options expired |
|
(4,600 |
) |
(2,128,731 |
) | |
|
Options terminated in closing transactions |
|
(16,720 |
) |
(20,990,904 |
) | |
|
Options outstanding at September 30, 2011 |
|
2,453 |
|
$ |
3,402,349 |
|
Cohen & Steers Global Income Builder, Inc.
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Note 3. Income Tax Information
As of September 30, 2011, the federal tax cost and net unrealized depreciation on securities were as follows:
|
Cost for federal income tax purposes |
|
$ |
332,636,594 |
|
|
Gross unrealized appreciation |
|
$ |
17,300,903 |
|
|
Gross unrealized depreciation |
|
(45,862,313 |
) | |
|
Net unrealized depreciation |
|
$ |
(28,561,410 |
) |
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, 2011 |
|
|
|
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: November 29, 2011 |
|
|
|