Monthly Portfolio Investments Report on Form N-port (public) (nport-p)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

 

Investment Company Act file number 811-21751

 

Lazard World Dividend & Income Fund, Inc.
(Exact name of Registrant as specified in charter)

 

30 Rockefeller Plaza
New York, New York 10112
(Address of principal executive offices)   (Zip code)

 

Mark R. Anderson, Esq.
Lazard Asset Management LLC
30 Rockefeller Plaza
New York, New York 10112
(Name and address of agent for service)

 

Registrant’s telephone number, including area code: [phone]

 

Date of fiscal year end: 12/31

 

Date of reporting period: 9/30/2019

Lazard World Dividend & Income Fund, Inc.

Portfolio of Investments

September 30, 2019 (unaudited)

 

Description		Shares				Fair Value
Common Stocks  |  98.4%
Australia  |  1.0%
Alumina, Ltd.			371,769			$	595,166
Brazil  |  3.1%
BB Seguridade Participacoes SA			138,602				1,168,541
CCR SA			155,500				645,585
							1,814,126
Canada  |  1.9%
Alaris Royalty Corp.			39,650				589,280
Suncor Energy, Inc.			15,990				504,376
							1,093,656
China  |  3.3%
JNBY Design, Ltd.			532,000				766,662
Ping An Insurance (Group) Co. of China, Ltd., Class H			99,500				1,151,484
							1,918,146
France  |  6.1%
Cie de Saint-Gobain			10,893				427,888
Engie SA			66,726				1,090,160
Faurecia SA			7,253				344,826
Gaztransport Et Technigaz SA			7,324				725,836
Total SA			19,023				990,336
							3,579,046
Germany  |  0.9%
Vonovia SE			9,768				495,508
Hong Kong  |  1.9%
Hang Seng Bank, Ltd.			24,100				521,399
Sands China, Ltd.			126,800				578,947
							1,100,346
Israel  |  1.5%
Bank Leumi Le-Israel BM			120,140				855,148
Italy  |  1.8%
Banca Farmafactoring SpA			199,750				1,041,325
Japan  |  3.3%
Amada Holdings Co., Ltd.			50,600				549,245
Daiwa House Industry Co., Ltd.			24,100				785,241
Tokyo Electron, Ltd.			3,100				595,451
							1,929,937
Mexico  |  1.3%
Fibra Uno Administracion SA de CV REIT			253,000				369,744
Grupo Financiero Banorte SAB de CV, Class O			71,900				386,461
							756,205

Description		Shares				Fair Value
Netherlands  |  1.1%
Royal Dutch Shell PLC, B Shares			22,738			$	667,975
Norway  |  2.0%
Mowi ASA			51,694				1,192,631
Portugal  |  0.5%
Galp Energia SGPS SA			20,881				314,084
Russia  |  1.5%
Moscow Exchange MICEX-RTS PJ (*)			586,221				854,633
Singapore  |  5.6%
BOC Aviation, Ltd.			81,800				756,705
DBS Group Holdings, Ltd.			76,900				1,386,010
NetLink NBN Trust			1,786,100				1,150,169
							3,292,884
South Africa  |  0.4%
Standard Bank Group, Ltd.			22,564				260,642
South Korea  |  2.4%
Samsung Electronics Co., Ltd.			11,330				462,263
Woongjin Coway Co., Ltd.			13,005				920,560
							1,382,823
Switzerland  |  1.6%
ABB, Ltd.			48,015				943,076
Taiwan  |  2.0%
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR			13,225				614,698
Tripod Technology Corp.			161,000				582,827
							1,197,525
United Kingdom  |  3.7%
Cineworld Group PLC			159,812				447,932
Legal & General Group PLC			117,682				359,324
Rio Tinto PLC			26,204				1,361,089
							2,168,345
United States  |  51.5%
Accenture PLC, Class A			5,209				1,001,951
Analog Devices, Inc.			3,018				337,201
AT&T, Inc.			19,053				720,966
Blackstone Mortgage Trust, Inc., Class A REIT			31,889				1,143,221
Bristol-Myers Squibb Co.			9,600				486,816
Brixmor Property Group, Inc. REIT			71,940				1,459,663
Camden Property Trust REIT			2,850				316,379
Carter’s, Inc.			6,500				592,865
Chevron Corp.			5,414				642,100
Cisco Systems, Inc.			34,730				1,716,009
Citizens Financial Group, Inc.			17,445				617,030
Eaton Corp. PLC			33,054				2,748,440

Lazard World Dividend & Income Fund, Inc.

Portfolio of Investments (continued)

September 30, 2019 (unaudited)

 

Description		Shares				Fair Value
Exelon Corp.			13,000			$	628,030
Gilead Sciences, Inc.			7,260				460,139
Intel Corp.			9,430				485,928
International Game Technology PLC			25,000				355,250
Johnson & Johnson			8,359				1,081,487
JPMorgan Chase & Co.			7,977				938,813
Kimberly-Clark Corp.			4,200				596,610
Leggett & Platt, Inc.			28,271				1,157,415
Lowe’s Cos., Inc.			4,550				500,318
Medtronic PLC			7,973				866,027
MetLife, Inc.			8,600				405,576
Microsoft Corp.			10,460				1,454,254
PacWest Bancorp			20,174				733,123
Pattern Energy Group, Inc., Class A			21,135				569,166
Pfizer, Inc.			49,309				1,771,672
Raytheon Co.			3,380				663,122
Skyworks Solutions, Inc.			5,350				423,987
Tapestry, Inc.			16,065				418,493
Texas Instruments, Inc.			4,789				618,930
The Boeing Co.			2,080				791,378
The Coca-Cola Co.			19,090				1,039,260
United Technologies Corp.			5,966				814,478
Valero Energy Corp.			7,230				616,285
Verizon Communications, Inc.			15,980				964,553
							30,136,935
Total Common Stocks (Cost $55,068,476)							57,590,162
Description		Principal Amount (000) («)				Fair Value
Foreign Government Obligations  |  13.6%
Brazil  |  3.0%
Brazil NTN-B, 6.00%, 05/15/23			1,150			$	1,012,630
Brazil NTN-F, 10.00%, 01/01/27			2,656				749,459
							1,762,089
Dominican Republic  |  2.9%
Dominican Republic Bonds:
15.95%, 06/04/21 (#)			16,500				354,541
16.95%, 02/04/22 (#)			26,100				588,924
8.90%, 02/15/23			24,000				462,577
10.50%, 04/07/23			13,900				281,795
							1,687,837

Description		Principal Amount (000) («)				Fair Value
Egypt  |  3.7%
Egypt Treasury Bills:
0.00%, 11/05/19			3,475			$	210,043
0.00%, 05/12/20			34,850				1,956,589
							2,166,632
Indonesia  |  0.9%
Indonesia Government Bonds, 8.37%, 09/15/26			6,853,000				515,212
Malaysia  |  0.9%
Malaysia Government Bonds:
3.65%, 10/31/19			2,156				515,151
3.62%, 11/30/21			170				40,990
							556,141
Russia  |  2.2%
Russia Government Bonds - OFZ:
7.95%, 10/07/26			22,440				368,237
7.05%, 01/19/28			57,800				903,473
							1,271,710
Total Foreign Government Obligations (Cost $8,102,559)							7,959,621
Description		Shares				Fair Value
Short-Term Investments  |  1.0%
State Street Institutional Treasury Money Market Fund, Premier Class, 1.95% (7 day yield) (Cost $603,758)			603,758			$	603,758
Total Investments  |  113.0% (Cost $63,774,793) (»)						$	66,153,541
Liabilities in Excess of Cash and Other Assets  |  (13.0)%							(7,590,655)
Net Assets  |  100.0%						$	58,562,886

Lazard World Dividend & Income Fund, Inc.

Portfolio of Investments (continued)

September 30, 2019 (unaudited)

Forward Currency Contracts open at September 30, 2019

Currency Purchased		Quantity		Currency Sold		Quantity		Counterparty		Settlement Date		Unrealized Appreciation				Unrealized Depreciation
AUD		576,000		USD		391,957		BNP		10/21/19		$	—			$	2,923
BRL		146,500		USD		35,627		BNP		05/18/20			—				850
BRL		731,224		USD		178,000		CIT		11/08/19			—				2,456
CLP		720,564,300		USD		1,010,000		BNP		11/15/19			—				20,921
CLP		329,415,400		USD		466,000		CIT		10/18/19			—				14,088
CNY		8,795,689		USD		1,237,000		CIT		11/08/19			—				1,997
CNY		382,000		USD		53,144		HSB		12/05/19			404				—
COP		3,770,850,000		USD		1,093,000		SCB		12/13/19			—				13,078
CZK		15,339,000		USD		674,320		CIT		06/08/20			—				24,444
CZK		17,042,000		USD		748,981		SCB		06/08/20			—				26,954
EUR		257,000		USD		284,816		SCB		10/07/19			—				4,592
GHS		3,111,175		USD		576,613		CIT		10/02/19			64				—
GHS		3,111,175		USD		557,808		CIT		01/02/20			—				364
GHS		4,071,925		USD		737,000		JPM		10/02/19			17,759				—
HUF		250,053,000		USD		828,868		CIT		03/27/20			—				6,402
IDR		4,544,933,000		USD		323,000		HSB		11/15/19			—				4,025
IDR		5,718,570,000		USD		403,000		HSB		11/15/19			—				1,657
ILS		1,033,000		USD		294,157		SCB		10/25/19			3,347				—
INR		77,430,273		USD		1,121,000		CIT		10/11/19			—				27,206
INR		649,674		USD		9,000		CIT		11/08/19			156				—
INR		29,244,275		USD		410,000		CIT		02/06/20			—				2,596
INR		16,385,995		USD		227,000		HSB		10/11/19			4,472				—
KES		30,681,670		USD		293,942		CIT		10/28/19			23				—
KZT		230,308,400		USD		581,000		HSB		01/15/20			—				1,863
KZT		323,850,500		USD		823,000		SCB		10/30/19			6,259				—
MXN		6,624,000		USD		336,674		HSB		10/31/19			—				2,622
MXN		7,517,000		USD		388,238		HSB		10/31/19			—				9,152
PEN		2,834,948		USD		830,000		HSB		11/07/19			10,037				—
PEN		2,159,630		USD		638,000		JPM		10/04/19			2,709				—
PHP		28,944,020		USD		550,162		JPM		03/31/20			4,002				—
PLN		4,439,000		USD		1,120,515		CIT		10/07/19			—				13,499
RUB		16,869,000		USD		253,193		BNP		10/16/19			6,483				—
RUB		20,179,110		USD		307,000		CIT		10/16/19			3,631				—
RUB		26,595,824		USD		397,000		HSB		10/16/19			12,408				—
SGD		1,393,000		USD		1,010,885		SCB		10/18/19			—				2,863
THB		24,625,960		USD		809,000		HSB		11/22/19			—				3,099
TRY		2,525,000		USD		439,940		BNP		10/24/19			3,624				—
TRY		2,416,000		USD		366,460		HSB		07/02/20			28,324				—
UGX		1,658,228,000		USD		446,000		CIT		11/18/19			—				250
USD		2,082,237		AUD		3,068,000		BNP		10/21/19			10,088				—
USD		301,000		BRL		1,238,164		CIT		05/18/20			7,083				—
USD		86,072		CZK		1,992,000		CIT		06/08/20			1,676				—
USD		318,307		CZK		7,340,000		CIT		06/08/20			7,329				—
USD		424,000		CZK		9,787,616		CIT		06/08/20			9,323				—
USD		295,771		CZK		6,708,000		SCB		06/08/20			11,570				—
USD		380,000		DOP		19,758,290		CIT		11/29/19			2,660				—

Lazard World Dividend & Income Fund, Inc.

Portfolio of Investments (concluded)

September 30, 2019 (unaudited)

 

Forward Currency Contracts open at September 30, 2019 (concluded)

Currency Purchased		Quantity		Currency Sold		Quantity		Counterparty		Settlement Date		Unrealized Appreciation				Unrealized Depreciation
USD		282,781		EUR		257,000		HSB		10/07/19		$	2,557			$	—
USD		175,000		GHS		960,750		CIT		10/02/19			—				3,082
USD		574,282		GHS		3,111,175		CIT		10/02/19			—				2,395
USD		554,000		KZT		216,004,600		SCB		10/30/19			893				—
USD		186,974		RUB		12,407,000		BNP		10/16/19			—				4,016
USD		475,000		RUB		30,486,688		CIT		10/16/19			5,698				—
USD		180,160		RUB		11,428,000		HSB		10/16/19			4,241				—
USD		377,428		TRY		2,416,000		SCB		07/02/20			—				17,355
USD		702,195		ZAR		10,763,000		CIT		11/08/19			—				5,057
USD		52,046		ZAR		800,000		HSB		11/08/19			—				523
USD		294,236		ZAR		4,411,000		HSB		11/08/19			4,383				—
UYU		8,918,400		USD		240,000		CIT		11/06/19			—				189
UYU		19,027,942		USD		547,000		HSB		10/04/19			—				32,518
UYU		13,447,544		USD		356,000		HSB		05/29/20			—				10,412
ZAR		4,322,000		USD		281,836		HSB		11/08/19			2,169				—
ZAR		15,752,000		USD		1,030,110		HSB		11/08/19			4,977				—
Total gross unrealized appreciation/depreciation on Forward Currency Contracts												$	178,349			$	263,448

 

Currency Abbreviations:

AUD	— Australian Dollar
BRL	— Brazilian Real
CLP	— Chilean Peso
CNY	— Chinese Renminbi
COP	— Colombian Peso
CZK	— Czech Koruna
DOP	— Dominican Republic Peso
EUR	— Euro
GHS	— Ghanaian Cedi
HUF	— Hungarian Forint
IDR	— Indonesian Rupiah
ILS	— Israeli Shekel
INR	— Indian Rupee
KES	— Kenyan Shilling
KZT	— Kazakhstan Tenge
MXN	— Mexican New Peso
PEN	— Peruvian New Sol
PHP	— Philippine Peso
PLN	— Polish Zloty
RUB	— Russian Ruble
SGD	— Singapore Dollar
THB	— Thai Baht
TRY	— New Turkish Lira
UGX	— Ugandan Shilling
USD	— United States Dollar
UYU	— Uruguayan Peso
ZAR	— South African Rand

 

 

Counterparty Abbreviations:

BNP	— BNP Paribas SA
CIT	— Citibank NA
HSB	— HSBC Bank USA NA
JPM	— JPMorgan Chase Bank NA
SCB	— Standard Chartered Bank

Lazard World Dividend & Income Fund, Inc.

Notes to Portfolio of Investments

September 30, 2019 (unaudited)

 

(*)	Non-income producing security.
(«)	Principal amount denominated in respective country’s currency.
(#)	Pursuant to Rule 144A under the Securities Act of 1933, these securities may only be traded among “qualified institutional buyers.” At September 31, 2019, these securities amounted to 1.6% of net assets.
(»)	The Fund, at all times, maintains portfolio securities in sufficient amount to cover its obligations related to investments in forward currency contracts.

 

Security Abbreviations:

ADR	- American Depositary Receipt
NTN-B	- Brazil Sovereign “Nota do Tesouro Nacional” Series B
NTN-F	- Brazil Sovereign “Nota do Tesouro Nacional” Series F
REIT	- Real Estate Investment Trust

 

Portfolio holdings by industry† (as a percentage of net assets):

Common Stocks
Aerospace & Defense			3.9	%
Auto Components			0.6
Banks			9.7
Beverages			1.8
Biotechnology			0.8
Building Products			0.7
Capital Markets			2.5
Communications Equipment			2.9
Diversified Financial Services			1.8
Diversified Telecommunication Services			4.8
Electric Utilities			1.1
Electrical Equipment			6.3
Electronic Equipment, Instruments & Components			1.0
Entertainment			0.8
Equity Real Estate Investment Trusts (REITs)			3.7
Food Products			2.0
Health Care Equipment & Supplies			1.5
Hotels, Restaurants & Leisure			1.6
Household Durables			3.5
Household Products			1.0
Independent Power & Renewable Electricity Producers			1.0
Insurance			5.3
IT Services			1.7
Machinery			0.9
Metals & Mining			3.3
Mortgage Real Estate Investment Trusts (REITs)			1.9
Multi-Utilities			1.9
Oil, Gas & Consumable Fuels			7.6
Pharmaceuticals			5.7
Real Estate Management & Development			2.2
Semiconductors & Semiconductor Equipment			5.3
Software			2.5
Specialty Retail			0.9
Technology Hardware, Storage & Peripherals			0.8
Textiles, Apparel & Luxury Goods			3.0
Trading Companies & Distributors			1.3
Transportation Infrastructure			1.1
Subtotal			98.4
Foreign Government Obligations			13.6
Short-Term Investments			1.0
Total Investments			113.0	%

 

† Industry classifications may be different than those used for compliance monitoring purposes.

Various inputs are used in determining the fair value of investments and derivative financial instruments. For information about the Fund’s policy regarding valuation of investments and derivative financial instruments, refer to notes to the financial statements.

 

Item 2. Controls and Procedures.

 

(a) The Registrant’s principal executive and principal financial officers have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

 

(b) There were no changes to the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter of the period covered by this report 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.

 

Lazard World Dividend & Income Fund, Inc.

 

By:	/s/ Nathan A. Paul
	Nathan A. Paul
	Chief Executive Officer

 

Date: November 25, 2019

 

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/ Nathan A. Paul
	Nathan A. Paul
	Chief Executive Officer

 

Date: November 25, 2019

 

By:	/s/ Christopher Snively
	Christopher Snively
	Chief Financial Officer

 

Date: November 25, 2019