N-Q 1 a06-8455_1nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number

 

811-21735

Eaton Vance Tax-Managed Buy-Write Opportunities Fund

(Exact Name of Registrant as Specified in Charter)

The Eaton Vance Building,
255 State Street, Boston, Massachusetts

 

02109

(Address of Principal Executive Offices)

 

(Zip code)

Alan R. Dynner, Esq.
Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and Address of Agent for Services)

Registrant’s Telephone Number, Including Area Code:

 

(617) 482-8260

Date of Fiscal Year End:

 

December 31

Date of Reporting Period:

 

March 31, 2006

 

 



Item 1. Schedule of Investments



Eaton Vance Tax-Managed Buy-Write Opportunities Fund                                                      as of March 31, 2006

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.9%

Security

 

Shares

 

Value

 

Aerospace & Defense — 1.4%

 

 

 

 

 

General Dynamics Corp.

 

78,730

 

$

5,037,145

 

Honeywell International, Inc.

 

153,464

 

6,563,655

 

Northrop Grumman Corp.

 

87,518

 

5,976,604

 

 

 

 

 

$

17,577,404

 

Air Freight & Logistics — 0.7%

 

 

 

 

 

FedEx Corp.

 

66,217

 

7,478,548

 

Hub Group, Inc., Class A (1)

 

15,899

 

724,676

 

Ryder System, Inc.

 

10,708

 

479,504

 

 

 

 

 

$

8,682,728

 

Auto Components — 0.4%

 

 

 

 

 

Goodyear Tire & Rubber Co. (1)

 

12,003

 

173,803

 

Johnson Controls, Inc.

 

62,060

 

4,712,216

 

 

 

 

 

$

4,886,019

 

Beverages — 1.3%

 

 

 

 

 

Brown-Forman Corp., Class B

 

10,403

 

800,719

 

Coca-Cola Co.

 

117,208

 

4,907,499

 

PepsiCo, Inc.

 

168,647

 

9,746,110

 

 

 

 

 

$

15,454,328

 

Biotechnology — 4.2%

 

 

 

 

 

Amgen, Inc. (1)

 

355,963

 

25,896,308

 

Applera Corp.-Applied Biosystems Group

 

62,139

 

1,686,452

 

Cephalon, Inc. (1)

 

11,000

 

662,750

 

Enzon Pharmaceuticals, Inc. (1)

 

85,000

 

688,500

 

Genzyme Corp. (1)

 

101,950

 

6,853,079

 

Gilead Sciences, Inc. (1)

 

213,291

 

13,270,966

 

Regeneron Pharmaceuticals, Inc. (1)

 

140,893

 

2,343,051

 

 

 

 

 

$

51,401,106

 

Capital Markets — 2.2%

 

 

 

 

 

Bank of New York Co., Inc.

 

243,499

 

8,775,704

 

Charles Schwab Corp.

 

147,927

 

2,545,824

 

Federated Investors, Inc.

 

17,577

 

686,382

 

Franklin Resources, Inc.

 

73,904

 

6,964,713

 

Goldman Sachs Group, Inc.

 

45,588

 

7,155,492

 

T. Rowe Price Group, Inc.

 

10,938

 

855,461

 

 

 

 

 

$

26,983,576

 

Chemicals — 1.3%

 

 

 

 

 

Ashland, Inc.

 

1,339

 

95,176

 

Dow Chemical Co.

 

154,310

 

6,264,986

 

Eastman Chemical Co.

 

33,114

 

1,694,775

 

Monsanto Co.

 

77,725

 

6,587,194

 

1



 

 

 

Rohm and Haas Co.

 

14,250

 

$

696,397

 

Tronox, Inc., Class B (1)

 

2,869

 

48,747

 

 

 

 

 

$

15,387,275

 

Commercial Banks — 3.7%

 

 

 

 

 

Bank of America Corp.

 

339,218

 

15,447,988

 

Comerica, Inc.

 

9,100

 

527,527

 

Compass Bancshares, Inc.

 

11,751

 

594,718

 

First Horizon National Corp.

 

32,450

 

1,351,542

 

Huntington Bancshares, Inc.

 

21,800

 

526,034

 

Marshall & Ilsley Corp.

 

50,573

 

2,203,971

 

National City Corp.

 

208,604

 

7,280,280

 

North Fork Bancorp, Inc.

 

163,917

 

4,725,727

 

Regions Financial Corp.

 

55,048

 

1,936,038

 

Synovus Financial Corp.

 

18,347

 

497,020

 

Wells Fargo & Co.

 

144,441

 

9,225,447

 

 

 

 

 

$

44,316,292

 

Commercial Services & Supplies — 1.4%

 

 

 

 

 

Acco Brands Corp. (1)

 

11,126

 

246,997

 

Avery Dennison Corp.

 

9,865

 

576,905

 

Cendant Corp.

 

149,236

 

2,589,245

 

Cintas Corp.

 

213,538

 

9,100,990

 

Equifax, Inc.

 

15,004

 

558,749

 

Half (Robert) International, Inc.

 

21,611

 

834,401

 

Pitney Bowes, Inc.

 

16,037

 

688,468

 

R.R. Donnelley & Sons Co.

 

85,009

 

2,781,494

 

 

 

 

 

$

17,377,249

 

Communications Equipment — 7.5%

 

 

 

 

 

Cisco Systems, Inc. (1)

 

1,470,933

 

31,875,118

 

Corning, Inc. (1)

 

173,033

 

4,656,318

 

Motorola, Inc.

 

254,178

 

5,823,218

 

QUALCOMM, Inc.

 

839,919

 

42,508,301

 

Research in Motion, Ltd. (1)

 

66,169

 

5,616,425

 

 

 

 

 

$

90,479,380

 

Computer Peripherals — 6.0%

 

 

 

 

 

Apple Computer, Inc. (1)

 

514,229

 

32,252,443

 

Dell, Inc. (1)

 

448,846

 

13,357,657

 

International Business Machines Corp.

 

176,202

 

14,531,379

 

McDATA Corp., Class A (1)

 

130,906

 

604,786

 

NCR Corp. (1)

 

40,221

 

1,680,836

 

Network Appliance, Inc. (1)

 

157,181

 

5,663,231

 

Palm, Inc. (1)

 

183,682

 

4,254,075

 

 

 

 

 

$

72,344,407

 

2



 

 

 

Construction & Engineering — 0.1%

 

 

 

 

 

Fluor Corp.

 

9,092

 

$

780,094

 

 

 

 

 

$

780,094

 

Containers & Packaging — 0.2%

 

 

 

 

 

Bemis Co., Inc.

 

19,722

 

622,821

 

Temple-Inland, Inc.

 

33,131

 

1,475,986

 

 

 

 

 

$

2,098,807

 

Distributors — 0.0%

 

 

 

 

 

Genuine Parts Co.

 

12,694

 

556,378

 

 

 

 

 

$

556,378

 

Diversified Consumer Services — 0.2%

 

 

 

 

 

H&R Block, Inc.

 

109,446

 

2,369,506

 

 

 

 

 

$

2,369,506

 

Diversified Financial Services — 2.5%

 

 

 

 

 

CIT Group, Inc.

 

12,621

 

675,476

 

Citigroup, Inc.

 

467,605

 

22,084,984

 

JPMorgan Chase & Co.

 

147,672

 

6,149,062

 

Moody’s Corp.

 

26,753

 

1,911,769

 

 

 

 

 

$

30,821,291

 

Diversified Telecommunication Services — 1.6%

 

 

 

 

 

AT&T, Inc.

 

173,612

 

4,694,468

 

Citizens Communications Co.

 

425,089

 

5,640,931

 

Qwest Communications International, Inc. (1)

 

154,236

 

1,048,805

 

Verizon Communications, Inc.

 

251,832

 

8,577,398

 

 

 

 

 

$

19,961,602

 

Electric Utilities — 1.0%

 

 

 

 

 

Cinergy Corp.

 

86,456

 

3,925,967

 

PPL Corp.

 

59,438

 

1,747,477

 

Progress Energy, Inc.

 

135,095

 

5,941,478

 

 

 

 

 

$

11,614,922

 

Electrical Equipment — 1.2%

 

 

 

 

 

Cooper Industries, Ltd., Class A

 

55,811

 

4,849,976

 

Emerson Electric Co.

 

103,389

 

8,646,422

 

Rockwell Automation, Inc.

 

12,011

 

863,711

 

 

 

 

 

$

14,360,109

 

Electronic Equipment & Instruments — 0.2%

 

 

 

 

 

Agilent Technologies, Inc. (1)

 

80,301

 

3,015,303

 

 

 

 

 

$

3,015,303

 

Energy Equipment & Services — 1.8%

 

 

 

 

 

Diamond Offshore Drilling, Inc.

 

41,269

 

3,693,575

 

Halliburton Co.

 

123,830

 

9,042,067

 

3



 

 

 

Noble Corp.

 

72,227

 

$

5,857,610

 

Transocean, Inc. (1)

 

44,333

 

3,559,940

 

 

 

 

 

$

22,153,192

 

Food & Staples Retailing — 1.8%

 

 

 

 

 

CVS Corp.

 

244,991

 

7,317,881

 

SUPERVALU, Inc.

 

15,863

 

488,898

 

Wal-Mart Stores, Inc.

 

290,358

 

13,716,512

 

 

 

 

 

$

21,523,291

 

Food Products — 0.9%

 

 

 

 

 

Archer-Daniels-Midland Co.

 

63,431

 

2,134,453

 

Campbell Soup Co.

 

16,880

 

546,912

 

ConAgra Foods, Inc.

 

156,193

 

3,351,902

 

Hershey Co.

 

10,759

 

561,943

 

HJ Heinz Co.

 

18,409

 

698,069

 

McCormick & Co., Inc.

 

15,743

 

533,058

 

Sara Lee Corp.

 

140,854

 

2,518,470

 

 

 

 

 

$

10,344,807

 

Gas Utilities — 0.1%

 

 

 

 

 

Nicor, Inc.

 

28,999

 

1,147,200

 

 

 

 

 

$

1,147,200

 

Health Care Equipment & Supplies — 1.5%

 

 

 

 

 

Baxter International, Inc.

 

53,182

 

2,063,993

 

Becton, Dickinson & Co.

 

11,666

 

718,392

 

C.R. Bard, Inc.

 

8,005

 

542,819

 

Cooper Cos., Inc.

 

2,438

 

131,725

 

Hospira, Inc. (1)

 

13,496

 

532,552

 

Intuitive Surgical, Inc. (1)

 

13,918

 

1,642,324

 

Medtronic, Inc.

 

115,235

 

5,848,176

 

Millipore Corp. (1)

 

9,704

 

708,974

 

PerkinElmer, Inc.

 

28,152

 

660,727

 

Stryker Corp.

 

66,366

 

2,942,668

 

Thoratec Corp. (1)

 

86,433

 

1,665,564

 

Waters Corp. (1)

 

13,273

 

572,730

 

 

 

 

 

$

18,030,644

 

Health Care Providers & Services — 2.1%

 

 

 

 

 

AmerisourceBergen Corp.

 

15,618

 

753,881

 

Caremark Rx, Inc. (1)

 

80,040

 

3,936,367

 

Genesis HealthCare Corp. (1)

 

51,852

 

2,278,377

 

Health Management Associates, Inc., Class A

 

25,251

 

544,664

 

Humana, Inc. (1)

 

69,534

 

3,660,965

 

Laboratory Corporation of America Holdings (1)

 

2,535

 

148,247

 

Manor Care, Inc.

 

34,326

 

1,522,358

 

4



 

 

 

McKesson Corp.

 

139,128

 

$

7,252,743

 

Quest Diagnostics, Inc.

 

115,088

 

5,904,014

 

 

 

 

 

$

26,001,616

 

Hotels, Restaurants & Leisure — 2.4%

 

 

 

 

 

Carnival Corp.

 

112,779

 

5,342,341

 

Harrah’s Entertainment, Inc.

 

84,311

 

6,572,886

 

International Game Technology

 

18,708

 

658,896

 

McDonald’s Corp.

 

123,300

 

4,236,588

 

Starbucks Corp. (1)

 

264,859

 

9,969,293

 

Starwood Hotels & Resorts Worldwide, Inc.

 

32,575

 

2,206,305

 

Wendy’s International, Inc.

 

11,254

 

698,423

 

 

 

 

 

$

29,684,732

 

Household Durables — 0.8%

 

 

 

 

 

Black & Decker Corp.

 

5,886

 

511,435

 

Fortune Brands, Inc.

 

47,342

 

3,817,185

 

KB HOME

 

7,273

 

472,600

 

Stanley Works

 

56,752

 

2,875,056

 

Whirlpool Corp.

 

23,719

 

2,169,577

 

 

 

 

 

$

9,845,853

 

Household Products — 1.3%

 

 

 

 

 

Colgate-Palmolive Co.

 

7,774

 

443,895

 

Procter & Gamble Co.

 

265,555

 

15,301,279

 

 

 

 

 

$

15,745,174

 

Independent Power Producers & Energy Traders — 0.3%

 

 

 

 

 

TXU Corp.

 

85,519

 

3,827,830

 

 

 

 

 

$

3,827,830

 

Industrial Conglomerates — 2.6%

 

 

 

 

 

General Electric Co.

 

761,087

 

26,470,606

 

Textron, Inc.

 

7,000

 

653,730

 

Tyco International, Ltd.

 

164,456

 

4,420,577

 

 

 

 

 

$

31,544,913

 

Insurance — 2.5%

 

 

 

 

 

ACE, Ltd.

 

48,821

 

2,539,180

 

American International Group, Inc.

 

144,883

 

9,575,317

 

AON Corp.

 

21,504

 

892,631

 

Arthur J. Gallagher & Co.

 

115,781

 

3,219,870

 

Cincinnati Financial Corp.

 

13,382

 

562,981

 

Jefferson-Pilot Corp.

 

10,400

 

581,776

 

Lincoln National Corp.

 

13,523

 

738,221

 

Marsh & McLennan Cos., Inc.

 

110,850

 

3,254,556

 

Progressive Corp.

 

3,528

 

367,829

 

Prudential Financial, Inc.

 

90,366

 

6,850,646

 

RenaissanceRe Holdings, Ltd.

 

33,585

 

1,464,978

 

5



 

 

 

SAFECO Corp.

 

12,497

 

$

627,474

 

XL Capital Ltd., Class A

 

1,697

 

108,795

 

 

 

 

 

$

30,784,254

 

Internet & Catalog Retail — 0.8%

 

 

 

 

 

Expedia, Inc. (1)

 

140,681

 

2,851,604

 

IAC/InterActiveCorp (1)

 

227,517

 

6,704,926

 

 

 

 

 

$

9,556,530

 

Internet Software & Services — 4.4%

 

 

 

 

 

eBay, Inc. (1)

 

422,230

 

16,492,304

 

Google, Inc., Class A (1)

 

59,103

 

23,050,170

 

Yahoo!, Inc. (1)

 

427,759

 

13,799,505

 

 

 

 

 

$

53,341,979

 

IT Services — 1.6%

 

 

 

 

 

Automatic Data Processing, Inc.

 

67,402

 

3,078,923

 

CheckFree Corp. (1)

 

66,217

 

3,343,958

 

Euronet Worldwide, Inc. (1)

 

37,379

 

1,414,048

 

MoneyGram International, Inc.

 

112,881

 

3,467,704

 

Paychex, Inc.

 

190,161

 

7,922,107

 

 

 

 

 

$

19,226,740

 

Leisure Equipment & Products — 0.1%

 

 

 

 

 

Eastman Kodak Co.

 

19,707

 

560,467

 

Mattel, Inc.

 

4,756

 

86,226

 

 

 

 

 

$

646,693

 

Machinery — 1.7%

 

 

 

 

 

Caterpillar, Inc.

 

110,370

 

7,925,670

 

Danaher Corp.

 

58,451

 

3,714,561

 

Deere & Co.

 

56,159

 

4,439,369

 

Eaton Corp.

 

58,699

 

4,283,266

 

 

 

 

 

$

20,362,866

 

Media — 4.7%

 

 

 

 

 

CBS Corp., Class B

 

66,548

 

1,595,821

 

Comcast Corp., Class A (1)

 

423,498

 

11,078,708

 

Dow Jones & Co., Inc.

 

21,109

 

829,584

 

Gannett Co., Inc.

 

26,158

 

1,567,387

 

McGraw-Hill Companies, Inc.

 

8,885

 

511,954

 

Meredith Corp.

 

10,785

 

601,695

 

NTL, Inc. (1)

 

225,910

 

6,576,240

 

Omnicom Group, Inc.

 

40,734

 

3,391,105

 

Time Warner, Inc.

 

461,816

 

7,753,891

 

TiVo, Inc. (1)

 

326,806

 

2,362,807

 

Univision Communications, Inc., Class A (1)

 

94,667

 

3,263,171

 

Viacom, Inc., Class B (1)

 

97,667

 

3,789,480

 

6



 

 

 

Walt Disney Co.

 

370,224

 

$

10,325,547

 

XM Satellite Radio Holdings, Inc., Class A (1)

 

140,458

 

3,128,000

 

 

 

 

 

$

56,775,390

 

Metals & Mining — 1.3%

 

 

 

 

 

Freeport-McMoRan Copper & Gold, Inc., Class B

 

126,002

 

7,531,140

 

Nucor Corp.

 

76,477

 

8,014,025

 

 

 

 

 

$

15,545,165

 

Multiline Retail — 1.6%

 

 

 

 

 

Dollar General Corp.

 

252,480

 

4,461,322

 

Federated Department Stores, Inc.

 

27,863

 

2,033,999

 

J.C. Penney Company, Inc.

 

34,690

 

2,095,623

 

Nordstrom, Inc.

 

87,000

 

3,408,660

 

Sears Holdings Corp. (1)

 

55,188

 

7,298,061

 

 

 

 

 

$

19,297,665

 

Multi-Utilities — 1.4%

 

 

 

 

 

Ameren Corp.

 

117,357

 

5,846,726

 

KeySpan Corp.

 

19,542

 

798,682

 

NiSource, Inc.

 

233,391

 

4,719,166

 

PG&E Corp.

 

6,785

 

263,936

 

Public Service Enterprise Group, Inc.

 

77,955

 

4,992,238

 

 

 

 

 

$

16,620,748

 

Office Electronics — 0.1%

 

 

 

 

 

Xerox Corp. (1)

 

98,889

 

1,503,113

 

 

 

 

 

$

1,503,113

 

Oil, Gas & Consumable Fuels — 4.0%

 

 

 

 

 

Chevron Corp.

 

31,781

 

1,842,345

 

ConocoPhillips

 

180,588

 

11,404,132

 

EOG Resources, Inc.

 

34,122

 

2,456,784

 

Exxon Mobil Corp.

 

382,496

 

23,278,707

 

Kerr-McGee Corp.

 

14,229

 

1,358,585

 

Sunoco Inc.

 

9,132

 

708,369

 

Valero Energy Corp.

 

11,660

 

697,035

 

Williams Co., Inc.

 

218,252

 

4,668,410

 

XTO Energy, Inc.

 

57,800

 

2,518,346

 

 

 

 

 

$

48,932,713

 

Paper and Forest Products — 0.1%

 

 

 

 

 

Louisiana-Pacific Corp.

 

21,191

 

576,395

 

MeadWestvaco Corp.

 

45,728

 

1,248,832

 

 

 

 

 

$

1,825,227

 

Personal Products — 0.1%

 

 

 

 

 

Alberto-Culver Co.

 

25,840

 

1,142,903

 

 

 

 

 

$

1,142,903

 

7



 

 

 

Pharmaceuticals — 4.9%

 

 

 

 

 

Abbott Laboratories

 

122,167

 

$

5,188,432

 

Allergan, Inc.

 

6,128

 

664,888

 

Bristol-Myers Squibb Co.

 

331,596

 

8,160,578

 

Eli Lilly & Co.

 

92,218

 

5,099,655

 

Forest Laboratories, Inc. (1)

 

32,914

 

1,468,952

 

Johnson & Johnson Co.

 

143,589

 

8,503,341

 

Merck & Co., Inc.

 

37,000

 

1,303,510

 

MGI Pharma, Inc. (1)

 

131,551

 

2,302,142

 

Mylan Laboratories, Inc.

 

27,473

 

642,868

 

Pfizer, Inc.

 

528,005

 

13,157,885

 

Sepracor, Inc. (1)

 

50,000

 

2,440,500

 

Teva Pharmaceutical Industries, Ltd. ADR

 

30,630

 

1,261,343

 

Valeant Pharmaceuticals International

 

64,803

 

1,027,128

 

Wyeth

 

178,308

 

8,651,504

 

 

 

 

 

$

59,872,726

 

Real Estate — 0.2%

 

 

 

 

 

Plum Creek Timber Co., Inc.

 

14,401

 

531,829

 

Simon Property Group, Inc.

 

19,298

 

1,623,734

 

 

 

 

 

$

2,155,563

 

Road & Rail — 0.1%

 

 

 

 

 

CSX Corp.

 

12,455

 

744,809

 

Norfolk Southern Corp.

 

17,741

 

959,256

 

 

 

 

 

$

1,704,065

 

Semiconductors & Semiconductor Equipment — 6.4%

 

 

 

 

 

Advanced Micro Devices, Inc. (1)

 

81,025

 

2,686,789

 

Analog Devices, Inc.

 

143,308

 

5,487,263

 

Applied Materials, Inc.

 

669,505

 

11,723,033

 

ASML Holding N.V. (1)

 

130,002

 

2,648,141

 

Atheros Communications, Inc. (1)

 

6,839

 

179,113

 

Intel Corp.

 

1,357,048

 

26,258,879

 

KLA-Tencor Corp.

 

188,098

 

9,096,419

 

LSI Logic Corp. (1)

 

61,968

 

716,350

 

Maxim Integrated Products, Inc.

 

209,635

 

7,787,940

 

National Semiconductor Corp.

 

29,457

 

820,083

 

Sigmatel, Inc. (1)

 

23,976

 

209,550

 

Silicon Image, Inc. (1)

 

115,195

 

1,187,660

 

STMicroelectronics N.V.

 

170,572

 

3,136,819

 

Taiwan Semiconductor Manufacturing Co., Ltd. ADR

 

366,810

 

3,690,109

 

Tessera Technologies, Inc. (1)

 

48,699

 

1,562,264

 

 

 

 

 

$

77,190,412

 

Software — 8.1%

 

 

 

 

 

BMC Software, Inc. (1)

 

30,550

 

661,713

 

CA, Inc.

 

61,504

 

1,673,524

 

8



 

 

 

Compuware Corp. (1)

 

76,330

 

$

597,664

 

Electronic Arts, Inc. (1)

 

141,465

 

7,740,965

 

i2 Technologies, Inc. (1)

 

88,398

 

1,520,446

 

Microsoft Corp.

 

2,017,956

 

54,908,583

 

Oracle Corp. (1)

 

1,395,748

 

19,107,790

 

Symantec Corp. (1)

 

684,291

 

11,516,618

 

 

 

 

 

$

97,727,303

 

Specialty Retail — 1.6%

 

 

 

 

 

Bed Bath and Beyond, Inc. (1)

 

178,092

 

6,838,733

 

Best Buy Co., Inc.

 

87,871

 

4,914,625

 

Lowe’s Companies, Inc.

 

84,938

 

5,473,405

 

Tiffany & Co.

 

16,186

 

607,622

 

TJX Companies, Inc.

 

84,338

 

2,093,269

 

 

 

 

 

$

19,927,654

 

Textiles, Apparel & Luxury Goods — 0.3%

 

 

 

 

 

Coach, Inc. (1)

 

19,365

 

669,642

 

NIKE, Inc., Class B

 

32,906

 

2,800,301

 

 

 

 

 

$

3,469,943

 

Thrifts & Mortgage Finance — 0.4%

 

 

 

 

 

Accredited Home Lenders (1)

 

12,096

 

619,073

 

Commercial Capital Bancorp

 

31,525

 

443,242

 

Fannie Mae

 

61,848

 

3,178,987

 

MGIC Investment Corp.

 

8,152

 

543,168

 

PMI Group, Inc.

 

6,174

 

283,510

 

 

 

 

 

$

5,067,980

 

Tobacco — 1.2%

 

 

 

 

 

Altria Group, Inc.

 

102,975

 

7,296,809

 

Reynolds American, Inc.

 

52,566

 

5,545,713

 

UST, Inc.

 

32,501

 

1,352,042

 

 

 

 

 

$

14,194,564

 

Trading Companies & Distributors — 0.1%

 

 

 

 

 

WW Grainger, Inc.

 

9,595

 

722,983

 

 

 

 

 

$

722,983

 

Wireless Telecommunication Services — 0.5%

 

 

 

 

 

Sprint Nextel Corp.

 

248,609

 

6,424,057

 

 

 

 

 

$

6,424,057

 

Total Common Stocks
(identified cost $1,132,076,202)

 

 

 

$

1,224,336,264

 

Total Investments — 100.9%
(identified cost $1,132,076,202)

 

 

 

$

1,224,336,264

 

 

9



 

 

COVERED CALL OPTIONS WRITTEN — (1.3%)

Type of Contract

 

Number of
Contracts

 

Premiums
Received

 

Value

 

Nasdaq 100 Index, Expires 4/22/06, Strike 1,680.00

 

1,248

 

$

3,778,528

 

$

(5,291,520

)

Nasdaq 100 Index, Expires 4/22/06, Strike 1,710.00

 

572

 

1,217,445

 

(1,464,320

)

Nasdaq 100 Index, Expires 4/22/06, Strike 1,725.00

 

1,025

 

2,081,599

 

(1,845,000

)

S & P 500 Index, Expires 4/22/06, Strike 1,290.00

 

1,207

 

2,073,626

 

(2,100,180

)

S & P 500 Index, Expires 4/22/06, Strike 1,295.00

 

940

 

1,595,650

 

(1,522,800

)

S & P 500 Index, Expires 4/22/06, Strike 1,305.00

 

2,544

 

3,810,912

 

(2,671,200

)

S & P 500 Index, Expires 4/22/06, Strike 1,315.00

 

850

 

1,103,300

 

(535,500

)

Total Call Options Written
(premiums received, $15,661,060)

 

 

 

 

 

$

(15,430,520

)

Other Assets, Less Liabilities — 0.4%

 

 

 

 

 

$

3,924,615

 

Net Assets — 100.0%

 

 

 

 

 

$

1,212,830,359

 

 

ADR

—

American Depository Receipt

(1)

 

Non-income producing security.

 

The cost and unrealized appreciation (depreciation) in value of the investments owned at March 31, 2006, as computed on a federal income tax basis, were as follows:

Aggregate cost

 

$

1,132,076,202

 

Gross unrealized appreciation

 

$

132,536,455

 

Gross unrealized depreciation

 

(40,276,393

)

Net unrealized appreciation

 

$

92,260,062

 

 

Written call option activity for the period ended March 31, 2006 was as follows:

 

 

Number of
Contracts

 

Premiums
Received

 

Outstanding, beginning of period

 

8,649

 

$

17,480,251

 

Options written

 

25,715

 

46,958,806

 

Options terminated in closing purchase transactions

 

(25,978

)

(48,777,997

)

Outstanding, end of period

 

8,386

 

$

15,661,060

 

 

At March 31, 2006, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

10



Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s 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 Commission’s 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 registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s 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 registrant’s 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 Opportunities Fund

By:

 

/s/ Duncan W. Richardson

 

 

Duncan W. Richardson

 

 

President and Principal Executive Officer

Date:

 

May 24, 2006

 

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/ Duncan W. Richardson

 

 

Duncan W. Richardson

 

 

President and Principal Executive Officer

Date:

 

May 24, 2006

By:

 

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

 

Treasurer and Principal Financial Officer

Date:

 

May 24, 2006