NPORT-EX 2 NPORT_LCXG_81151661_0325.htm EDGAR HTML
March 31, 2025 
2025 Quarterly Report
(Unaudited)
 
BlackRock Enhanced International Dividend Trust (BGY)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
March 31, 2025
BlackRock Enhanced International Dividend Trust (BGY)
(Percentages shown are based on Net Assets)

 
Security
 
 
Shares
Value
Common Stocks
Canada — 4.4%
Teck Resources Ltd., Class B(a)
 
359,385
$ 13,091,249
Toronto-Dominion Bank
 
190,640
11,423,430
 
 
24,514,679
China — 1.9%
Tencent Holdings Ltd., ADR(b)
 
166,058
10,601,143
Denmark — 2.7%
Novo Nordisk A/S, Class B
 
222,796
15,234,411
France — 8.0%
Air Liquide SA
 
103,805
19,717,248
Cie de Saint-Gobain SA
 
79,007
7,870,420
LVMH Moet Hennessy Louis Vuitton SE
 
27,778
17,202,309
 
 
44,789,977
Germany — 10.4%
adidas AG
 
45,419
10,712,543
Beiersdorf AG
 
122,485
15,823,086
Deutsche Telekom AG, Registered Shares
 
391,106
14,439,620
SAP SE
 
64,445
17,268,012
 
 
58,243,261
India — 3.5%
AceVector Limited, Series I, (Acquired 01/25/22, Cost:
$3,948,600)(a)(c)(d)
 
848,000
271,844
HDFC Bank Ltd.
 
895,320
19,084,825
 
 
19,356,669
Italy — 3.0%
FinecoBank Banca Fineco SpA
 
849,221
16,820,160
Japan — 8.4%
Keyence Corp.
 
34,600
13,605,061
SMC Corp.
 
45,400
16,246,106
Sony Group Corp.
 
682,200
17,261,699
 
 
47,112,866
Netherlands — 4.9%
ASML Holding NV
 
19,452
12,872,810
Koninklijke KPN NV
 
3,424,727
14,505,959
 
 
27,378,769
Singapore — 2.6%
United Overseas Bank Ltd.
 
503,700
14,212,656
Spain — 2.9%
Banco Bilbao Vizcaya Argentaria SA
 
1,204,581
16,439,602
Sweden — 4.3%
Assa Abloy AB, Class B
 
369,461
11,091,677
Atlas Copco AB, Class A
 
823,904
13,160,571
 
 
24,252,248
Switzerland — 4.0%
UBS Group AG, Registered Shares
 
349,172
10,724,676
Zurich Insurance Group AG
 
16,457
11,487,117
 
 
22,211,793
Security
 
 
Shares
Value
Taiwan — 5.8%
MediaTek, Inc.
 
190,000
$ 8,189,084
Taiwan Semiconductor Manufacturing Co. Ltd.
 
869,000
24,473,632
 
 
32,662,716
United Kingdom — 8.4%
AstraZeneca PLC
 
138,915
20,398,925
RELX PLC
 
353,754
17,780,130
Taylor Wimpey PLC
 
6,166,586
8,663,995
 
 
46,843,050
United States — 23.1%
General Electric Co.(b)(e)
 
57,639
11,536,446
Haleon PLC
 
2,807,218
14,177,016
Mastercard, Inc., Class A(b)(e)
 
20,780
11,389,934
Nestle SA, Registered Shares
 
110,379
11,154,526
Otis Worldwide Corp.(b)(e)
 
120,604
12,446,333
Sanofi SA
 
161,536
17,885,561
Shell PLC
 
641,779
23,485,630
Texas Instruments, Inc.(b)(e)
 
85,939
15,443,238
Waste Connections, Inc.
 
60,225
11,738,654
 
 
129,257,338
Total Long-Term Investments — 98.3%
(Cost: $457,840,729)
549,931,338
Short-Term Securities
Money Market Funds — 1.9%
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
4.22%(f)(g)
 
10,349,407
10,349,407
Total Short-Term Securities — 1.9%
(Cost: $10,349,407)
10,349,407
Total Investments Before Options Written — 100.2%
(Cost: $468,190,136)
560,280,745
Options Written — (0.6)%
(Premiums Received: $(5,611,825))
(3,437,811
)
Total Investments, Net of Options Written — 99.6%
(Cost: $462,578,311)
556,842,934
Other Assets Less Liabilities — 0.4%
2,396,009
Net Assets — 100.0%
$ 559,238,943
 
(a)
Non-income producing security.
(b)
All or a portion of the security has been pledged and/or segregated as collateral in
connection with outstanding exchange-traded options written.
(c)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(d)
Restricted security as to resale, excluding 144A securities. The Trust held restricted
securities with a current value of $271,844, representing 0.1% of its net assets as of
period end, and an original cost of $3,948,600.
(e)
All or a portion of the security has been pledged as collateral in connection with
outstanding OTC derivatives.
(f)
Affiliate of the Trust.
(g)
Annualized 7-day yield as of period end.
1
Schedule of Investments (unaudited)(continued)
March 31, 2025
BlackRock Enhanced International Dividend Trust (BGY)
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended March 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows: 
Affiliated Issuer
Value at
12/31/24
Purchases
at Cost
Proceeds
from Sales
Net
Realized
Gain (Loss)
Change in
Unrealized
Appreciation
(Depreciation)
Value at
03/31/25
Shares
Held at
03/31/25
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Cash Funds: Institutional, SL Agency Shares(a)
$ —
$ 354
(b)
$ —
$ (354
)
$ —
$ —
—
$ 1,260
(c)
$ —
BlackRock Liquidity Funds, T-Fund, Institutional Shares
3,742,337
6,607,070
(b)
—
—
—
10,349,407
10,349,407
73,953
—
 
$ (354
)
$ —
$ 10,349,407
$ 75,213
$ —
 
(a)
As of period end, the entity is no longer held.
(b)
Represents net amount purchased (sold).
(c)
All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and
from borrowers of securities.
Derivative Financial Instruments Outstanding as of Period End
Exchange-Traded Options Written 
Description
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call 
 
 
General Electric Co.
92
04/04/25
USD
205.00
USD
1,841
$ (11,776
)
Texas Instruments, Inc.
153
04/04/25
USD
205.00
USD
2,749
(1,530
)
Otis Worldwide Corp.
201
04/09/25
USD
100.00
USD
2,074
(73,756
)
Teck Resources Ltd., Class B
490
04/11/25
CAD
61.00
CAD
2,569
(2,043
)
Toronto-Dominion Bank
428
04/11/25
CAD
88.00
CAD
3,691
(5,800
)
Texas Instruments, Inc.
78
04/17/25
USD
190.00
USD
1,402
(11,661
)
Toronto-Dominion Bank
428
04/17/25
CAD
88.00
CAD
3,691
(6,841
)
Waste Connections, Inc.
135
04/17/25
CAD
280.00
CAD
3,787
(36,821
)
General Electric Co.
167
04/25/25
USD
215.00
USD
3,343
(44,673
)
Mastercard, Inc., Class A
57
04/25/25
USD
545.00
USD
3,124
(87,922
)
Teck Resources Ltd., Class B
680
05/02/25
CAD
63.00
CAD
3,565
(11,105
)
Texas Instruments, Inc.
155
05/02/25
USD
190.00
USD
2,785
(56,187
)
Mastercard, Inc., Class A
36
05/16/25
USD
565.00
USD
1,973
(44,820
)
Otis Worldwide Corp.
341
05/16/25
USD
105.00
USD
3,519
(92,922
)
Waste Connections, Inc.
135
05/16/25
CAD
280.00
CAD
3,787
(65,668
)
 
 
 
$ (553,525
)
OTC Options Written 
Description
Counterparty
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call 
 
 
 
 
 
Koninklijke KPN NV
UBS AG
560,900
04/01/25
EUR
3.69
EUR
2,197
$ (135,159
)
Banco Bilbao Vizcaya Argentaria SA
Barclays Bank PLC
283,200
04/03/25
EUR
12.49
EUR
3,574
(57,953
)
Haleon PLC
Barclays Bank PLC
273,900
04/03/25
GBP
4.00
GBP
1,071
(1,277
)
LVMH Moet Hennessy Louis Vuitton SE
Goldman Sachs International
6,750
04/03/25
EUR
711.63
EUR
3,866
—
Nestle SA, Registered Shares
Barclays Bank PLC
16,500
04/03/25
CHF
83.85
CHF
1,475
(102,426
)
SAP SE
Morgan Stanley & Co. International PLC
14,500
04/03/25
EUR
284.59
EUR
3,593
—
Taiwan Semiconductor Manufacturing Co. Ltd.
Bank of America N.A.
129,000
04/08/25
USD
1,102.50
TWD
120,626
(5
)
Air Liquide SA
Bank of America N.A.
24,700
04/10/25
EUR
176.54
EUR
4,339
(40,092
)
ASML Holding NV
Goldman Sachs International
6,800
04/10/25
EUR
767.90
EUR
4,162
(593
)
Cie de Saint-Gobain SA
Morgan Stanley & Co. International PLC
35,300
04/10/25
EUR
101.62
EUR
3,252
(2,301
)
FinecoBank Banca Fineco SpA
UBS AG
87,600
04/10/25
EUR
18.62
EUR
1,605
(15,727
)
Novo Nordisk A/S, Class B
Goldman Sachs International
25,700
04/10/25
DKK
601.11
DKK
12,125
(243
)
Haleon PLC
UBS AG
499,300
04/15/25
GBP
3.94
GBP
1,952
(36,015
)
Keyence Corp.
BNP Paribas SA
12,000
04/15/25
JPY
65,797.61
JPY
707,731
(6,205
)
Koninklijke KPN NV
Goldman Sachs International
295,700
04/15/25
EUR
3.54
EUR
1,158
(126,560
)
Shell PLC
Bank of America N.A.
114,700
04/15/25
EUR
33.57
EUR
3,882
(93,814
)
RELX PLC
Goldman Sachs International
43,950
04/22/25
EUR
48.51
EUR
2,043
(9,004
)
Schedule of Investments
2
Schedule of Investments (unaudited)(continued)
March 31, 2025
BlackRock Enhanced International Dividend Trust (BGY)
 
OTC Options Written (continued)
Description
Counterparty
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call (continued)
 
 
 
 
 
Sony Group Corp.
UBS AG
67,000
04/22/25
JPY
3,986.85
JPY
254,278
$ (25,339
)
Taiwan Semiconductor Manufacturing Co. Ltd.
Bank of America N.A.
117,000
04/22/25
USD
1,064.41
TWD
109,405
(3,631
)
Tencent Holdings Ltd., ADR
Citibank N.A.
35,500
04/23/25
USD
68.21
USD
2,266
(39,300
)
Air Liquide SA
Citibank N.A.
24,500
04/25/25
EUR
186.35
EUR
4,304
(12,122
)
Assa Abloy AB, Class B
UBS AG
72,500
04/25/25
SEK
339.19
SEK
21,878
(1,963
)
AstraZeneca PLC
Goldman Sachs International
37,000
04/25/25
GBP
124.24
GBP
4,206
(13,638
)
Atlas Copco AB, Class A
Citibank N.A.
69,100
04/25/25
SEK
187.57
SEK
11,095
(1,004
)
Beiersdorf AG
Bank of America N.A.
28,000
04/25/25
EUR
141.21
EUR
3,345
(1,483
)
FinecoBank Banca Fineco SpA
UBS AG
285,800
04/25/25
EUR
18.32
EUR
5,235
(141,891
)
Koninklijke KPN NV
BNP Paribas SA
359,000
04/25/25
EUR
3.68
EUR
1,406
(81,581
)
Nestle SA, Registered Shares
Bank of America N.A.
21,800
04/25/25
CHF
89.88
CHF
1,949
(11,129
)
Novo Nordisk A/S, Class B
BNP Paribas SA
42,000
04/25/25
DKK
682.30
DKK
19,815
(2,190
)
RELX PLC
Goldman Sachs International
38,300
04/25/25
EUR
46.76
EUR
1,780
(29,197
)
Sony Group Corp.
JPMorgan Chase Bank N.A.
53,000
04/25/25
JPY
3,833.81
JPY
201,145
(43,064
)
Taylor Wimpey PLC
UBS AG
1,377,000
04/25/25
GBP
1.15
GBP
1,498
(17,538
)
AstraZeneca PLC
Bank of America N.A.
25,500
04/29/25
GBP
119.99
GBP
2,899
(32,562
)
Banco Bilbao Vizcaya Argentaria SA
Barclays Bank PLC
266,450
04/29/25
EUR
12.91
EUR
3,363
(58,622
)
Deutsche Telekom AG, Registered Shares
BNP Paribas SA
81,800
04/29/25
EUR
34.43
EUR
2,793
(42,435
)
FinecoBank Banca Fineco SpA
UBS AG
140,800
04/29/25
EUR
19.15
EUR
2,579
(35,726
)
Koninklijke KPN NV
Barclays Bank PLC
360,000
04/29/25
EUR
3.87
EUR
1,410
(27,404
)
RELX PLC
BNP Paribas SA
38,350
04/29/25
EUR
45.24
EUR
1,783
(70,153
)
SAP SE
BNP Paribas SA
14,500
04/29/25
EUR
248.03
EUR
3,593
(121,542
)
Taiwan Semiconductor Manufacturing Co. Ltd.
JPMorgan Chase Bank N.A.
228,000
04/29/25
USD
1,025.09
TWD
213,199
(32,716
)
Taylor Wimpey PLC
Citibank N.A.
375,900
04/29/25
GBP
1.18
GBP
409
(3,244
)
United Overseas Bank Ltd.
HSBC Bank PLC
11,300
04/29/25
SGD
38.47
SGD
428
(980
)
adidas AG
Goldman Sachs International
11,300
04/30/25
EUR
227.80
EUR
2,465
(56,032
)
Atlas Copco AB, Class A
Citibank N.A.
198,600
04/30/25
SEK
180.95
SEK
31,888
(8,000
)
Haleon PLC
Citibank N.A.
316,700
04/30/25
GBP
3.91
GBP
1,238
(30,682
)
adidas AG
Goldman Sachs International
9,200
05/06/25
EUR
228.19
EUR
2,007
(51,722
)
Deutsche Telekom AG, Registered Shares
Morgan Stanley & Co. International PLC
87,700
05/06/25
EUR
34.34
EUR
2,994
(57,170
)
Shell PLC
Barclays Bank PLC
114,200
05/06/25
EUR
33.21
EUR
3,865
(161,971
)
Taylor Wimpey PLC
Morgan Stanley & Co. International PLC
1,022,000
05/06/25
GBP
1.17
GBP
1,112
(15,499
)
Tencent Holdings Ltd., ADR
Morgan Stanley & Co. International PLC
39,200
05/07/25
USD
66.55
USD
2,503
(89,968
)
Assa Abloy AB, Class B
Citibank N.A.
93,800
05/08/25
SEK
307.55
SEK
28,306
(48,637
)
Koninklijke KPN NV
Barclays Bank PLC
151,100
05/08/25
EUR
3.84
EUR
592
(17,301
)
LVMH Moet Hennessy Louis Vuitton SE
Goldman Sachs International
5,800
05/08/25
EUR
616.09
EUR
3,322
(52,739
)
Nestle SA, Registered Shares
Barclays Bank PLC
18,700
05/08/25
CHF
90.62
CHF
1,672
(13,638
)
Novo Nordisk A/S, Class B
Citibank N.A.
23,400
05/08/25
DKK
541.27
DKK
11,040
(35,236
)
RELX PLC
Barclays Bank PLC
74,000
05/08/25
EUR
47.48
EUR
3,440
(38,839
)
Sanofi SA
Barclays Bank PLC
72,600
05/08/25
EUR
105.79
EUR
7,434
(142,296
)
Shell PLC
Bank of America N.A.
59,900
05/08/25
EUR
34.67
EUR
2,027
(40,636
)
Sony Group Corp.
Morgan Stanley & Co. International PLC
187,000
05/08/25
JPY
3,878.98
JPY
709,702
(159,903
)
UBS Group AG, Registered Shares
Citibank N.A.
78,550
05/08/25
CHF
30.50
CHF
2,134
(5,910
)
Deutsche Telekom AG, Registered Shares
Barclays Bank PLC
45,700
05/13/25
EUR
34.22
EUR
1,560
(36,864
)
Keyence Corp.
Goldman Sachs International
3,600
05/13/25
JPY
63,544.00
JPY
212,319
(17,847
)
Koninklijke KPN NV
Barclays Bank PLC
156,000
05/13/25
EUR
3.86
EUR
611
(16,084
)
SMC Corp.
UBS AG
18,000
05/13/25
JPY
60,064.79
JPY
966,114
(45,758
)
UBS Group AG, Registered Shares
Barclays Bank PLC
78,500
05/13/25
CHF
30.37
CHF
2,133
(8,091
)
United Overseas Bank Ltd.
HSBC Bank PLC
141,200
05/13/25
SGD
38.61
SGD
5,353
(19,451
)
Atlas Copco AB, Class A
UBS AG
103,100
05/15/25
SEK
168.48
SEK
16,554
(29,006
)
Beiersdorf AG
Goldman Sachs International
27,200
05/15/25
EUR
121.08
EUR
3,250
(84,586
)
MediaTek, Inc.
Bank of America N.A.
85,000
05/15/25
USD
1,550.06
TWD
121,639
(77,296
)
SMC Corp.
Goldman Sachs International
4,100
05/15/25
JPY
60,203.50
JPY
220,059
(10,692
)
United Overseas Bank Ltd.
UBS AG
74,200
05/15/25
SGD
38.64
SGD
2,813
(10,529
)
Zurich Insurance Group AG
Barclays Bank PLC
7,400
05/15/25
CHF
626.52
CHF
4,570
(24,075
)
 
 
 
 
 
 
$ (2,884,286
)
3
Schedule of Investments (unaudited)(continued)
March 31, 2025
BlackRock Enhanced International Dividend Trust (BGY)
 
Fair Value Hierarchy as of Period End
Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows: 
• Level 1 – Unadjusted price quotations in active markets/exchanges that the Trust has the ability to access for identical assets or liabilities;
• Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and
• Level 3 – Inputs that are unobservable and significant to the  entire fair value measurement for the asset or liability (including the Valuation Committee’s assumptions used in determining the fair value of financial instruments).
The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of financial instruments, refer to its most recent financial statements.
The following table summarizes the Trust’s financial instruments categorized in the fair value hierarchy.  The breakdown of the Trust’s financial instruments into major categories is disclosed in the Schedule of Investments above. 
 
Level 1
Level 2
Level 3
Total
Assets
Investments 
Long-Term Investments 
Common Stocks 
Canada
$ 24,514,679
$ —
$ —
$ 24,514,679
China
10,601,143
—
—
10,601,143
Denmark
—
15,234,411
—
15,234,411
France
—
44,789,977
—
44,789,977
Germany
—
58,243,261
—
58,243,261
India
—
19,084,825
271,844
19,356,669
Italy
—
16,820,160
—
16,820,160
Japan
—
47,112,866
—
47,112,866
Netherlands
—
27,378,769
—
27,378,769
Singapore
—
14,212,656
—
14,212,656
Spain
—
16,439,602
—
16,439,602
Sweden
—
24,252,248
—
24,252,248
Switzerland
—
22,211,793
—
22,211,793
Taiwan
—
32,662,716
—
32,662,716
United Kingdom
—
46,843,050
—
46,843,050
United States
62,554,605
66,702,733
—
129,257,338
Short-Term Securities 
Money Market Funds
10,349,407
—
—
10,349,407
 
$ 108,019,834
$ 451,989,067
$ 271,844
$ 560,280,745
Derivative Financial Instruments(a)
Liabilities
Equity Contracts
$ (479,769
)
$ (2,958,042
)
$ —
$ (3,437,811
)
 
(a)
Derivative financial instruments are options written. Options written are shown at value.
 
Currency Abbreviation 
CAD
Canadian Dollar
CHF
Swiss Franc
DKK
Danish Krone
EUR
Euro
GBP
British Pound
Currency Abbreviation (continued)
JPY
Japanese Yen
SEK
Swedish Krona
SGD
Singapore Dollar
TWD
New Taiwan Dollar
USD
United States Dollar
Schedule of Investments
4
Schedule of Investments (unaudited)(continued)
March 31, 2025
BlackRock Enhanced International Dividend Trust (BGY)
 
 
Portfolio Abbreviation 
ADR
 American Depositary Receipt
SAP
 Subject to Appropriations
5