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

 

811-21676

 

 

 

 

 

 

Eaton Vance Tax-Managed Buy-Write Income 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)

 

 

 

Maureen A. Gemma
Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and Address of Agent for Service)

 

Registrant’s Telephone Number, Including Area Code:

 

(617) 482-8260

 

 

 

Date of Fiscal Year End:

 

December 31

 

 

 

Date of Reporting Period:

 

September 30, 2008

 

 

 


 

Item 1. Schedule of Investments

 


 

Eaton Vance Tax-Managed Buy-Write Income Fund

 

as of September 30, 2008

 

 

 

PORTFOLIO OF INVESTMENTS (Unaudited)

 

 

 

Common Stocks — 101.7%

 

Security

 

Shares

 

Value

 

Aerospace & Defense — 2.5%

 

 

 

 

 

Boeing Co. (The)

 

24,961

 

$

1,431,513

 

Honeywell International, Inc.

 

66,929

 

2,780,900

 

Northrop Grumman Corp.

 

20,111

 

1,217,520

 

Rockwell Collins, Inc.

 

34,570

 

1,662,471

 

United Technologies Corp.

 

48,521

 

2,914,171

 

 

 

 

 

$

10,006,575

 

Air Freight & Logistics — 0.9%

 

 

 

 

 

CH Robinson Worldwide, Inc.

 

6,745

 

$

343,725

 

Expeditors International of Washington, Inc.

 

7,613

 

265,237

 

United Parcel Service, Inc., Class B

 

47,774

 

3,004,507

 

 

 

 

 

$

3,613,469

 

Airlines — 0.0%

 

 

 

 

 

Southwest Airlines Co.

 

12,881

 

$

186,903

 

 

 

 

 

$

186,903

 

Beverages — 3.9%

 

 

 

 

 

Anheuser-Busch Cos., Inc.

 

58,721

 

$

3,809,818

 

Coca-Cola Co. (The)

 

111,894

 

5,916,955

 

PepsiCo, Inc.

 

81,530

 

5,810,643

 

 

 

 

 

$

15,537,416

 

Biotechnology — 1.2%

 

 

 

 

 

Amgen, Inc. (1)

 

13,304

 

$

788,528

 

BioMarin Pharmaceutical, Inc. (1)

 

7,730

 

204,768

 

Celgene Corp. (1)

 

26,648

 

1,686,285

 

Cephalon, Inc. (1)

 

10,226

 

792,413

 

Enzon Pharmaceuticals, Inc. (1)

 

27,239

 

201,024

 

Progenics Pharmaceuticals, Inc. (1)

 

94,287

 

1,254,960

 

 

 

 

 

$

4,927,978

 

Building Products — 0.1%

 

 

 

 

 

Masco Corp.

 

25,985

 

$

466,171

 

 

 

 

 

$

466,171

 

Capital Markets — 3.3%

 

 

 

 

 

American Capital, Ltd.

 

70,672

 

$

1,802,843

 

Bank of New York Mellon Corp. (The)

 

82,529

 

2,688,795

 

Federated Investors, Inc., Class B

 

32,602

 

940,568

 

Franklin Resources, Inc.

 

23,936

 

2,109,480

 

Invesco PLC ADR

 

54,842

 

1,150,585

 

Legg Mason, Inc.

 

5,666

 

215,648

 

Merrill Lynch & Co., Inc.

 

164,719

 

4,167,391

 

 

 

 

 

$

13,075,310

 

Chemicals — 1.6%

 

 

 

 

 

E.I. Du Pont de Nemours & Co.

 

73,387

 

$

2,957,496

 

Eastman Chemical Co.

 

27,979

 

1,540,524

 

Monsanto Co.

 

17,320

 

1,714,334

 

 

 

 

 

$

6,212,354

 

Commercial Banks — 3.3%

 

 

 

 

 

BB&T Corp.

 

78,467

 

$

2,966,053

 

Comerica, Inc.

 

6,414

 

210,315

 

Fifth Third Bancorp

 

163,451

 

1,945,067

 

Huntington Bancshares, Inc.

 

24,702

 

197,369

 

Marshall & Ilsley Corp.

 

11,296

 

227,614

 

 

1


 

National City Corp.

 

56,640

 

$

99,120

 

Popular, Inc.

 

61,181

 

507,190

 

U.S. Bancorp

 

83,033

 

2,990,849

 

Wells Fargo & Co.

 

71,097

 

2,668,270

 

Zions Bancorporation

 

36,306

 

1,405,042

 

 

 

 

 

$

13,216,889

 

Commercial Services & Supplies — 1.0%

 

 

 

 

 

Avery Dennison Corp.

 

8,447

 

$

375,723

 

Pitney Bowes, Inc.

 

44,333

 

1,474,516

 

RR Donnelley & Sons Co.

 

16,491

 

404,524

 

Waste Management, Inc.

 

59,061

 

1,859,831

 

 

 

 

 

$

4,114,594

 

Communications Equipment — 3.8%

 

 

 

 

 

Cisco Systems, Inc. (1)

 

237,947

 

$

5,368,084

 

Corning, Inc.

 

201,160

 

3,146,142

 

Harris Corp.

 

30,013

 

1,386,601

 

Juniper Networks, Inc. (1)

 

8,298

 

174,839

 

Nokia Oyj ADR

 

29,005

 

540,943

 

QUALCOMM, Inc.

 

105,832

 

4,547,601

 

Research In Motion, Ltd. (1)

 

2,639

 

180,244

 

 

 

 

 

$

15,344,454

 

Computers & Peripherals — 4.3%

 

 

 

 

 

Apple, Inc. (1)

 

27,400

 

$

3,114,284

 

Hewlett-Packard Co.

 

132,163

 

6,111,217

 

International Business Machines Corp.

 

68,838

 

8,051,292

 

 

 

 

 

$

17,276,793

 

Construction & Engineering — 0.5%

 

 

 

 

 

Fluor Corp.

 

38,964

 

$

2,170,295

 

 

 

 

 

$

2,170,295

 

Construction Materials — 0.1%

 

 

 

 

 

Vulcan Materials Co.

 

2,755

 

$

205,247

 

 

 

 

 

$

205,247

 

Distributors — 0.4%

 

 

 

 

 

Genuine Parts Co.

 

43,485

 

$

1,748,532

 

 

 

 

 

$

1,748,532

 

Diversified Consumer Services — 0.2%

 

 

 

 

 

H&R Block, Inc.

 

28,930

 

$

658,157

 

 

 

 

 

$

658,157

 

Diversified Financial Services — 5.0%

 

 

 

 

 

Bank of America Corp.

 

224,898

 

$

7,871,430

 

CITGroup, Inc.

 

117,560

 

818,218

 

Citigroup, Inc.

 

73,031

 

1,497,866

 

JPMorgan Chase & Co.

 

157,459

 

7,353,335

 

NYSE Euronext

 

63,866

 

2,502,270

 

 

 

 

 

$

20,043,119

 

Diversified Telecommunication Services — 3.2%

 

 

 

 

 

AT&T, Inc.

 

186,704

 

$

5,212,776

 

Frontier Communications Corp.

 

121,897

 

1,401,815

 

Verizon Communications, Inc.

 

152,166

 

4,883,007

 

Windstream Corp.

 

115,601

 

1,264,675

 

 

 

 

 

$

12,762,273

 

Electric Utilities — 1.1%

 

 

 

 

 

Duke Energy Corp.

 

123,997

 

$

2,161,268

 

Edison International

 

5,283

 

210,792

 

FirstEnergy Corp.

 

20,725

 

1,388,368

 

Pinnacle West Capital Corp.

 

7,168

 

246,651

 

Progress Energy, Inc.

 

4,689

 

202,237

 

 

 

 

 

$

4,209,316

 

 

2


 

Electrical Equipment — 0.7%

 

 

 

 

 

Emerson Electric Co.

 

71,644

 

$

2,922,359

 

 

 

 

 

$

2,922,359

 

Energy Equipment & Services — 2.7%

 

 

 

 

 

BJ Services Co.

 

9,789

 

$

187,264

 

Diamond Offshore Drilling, Inc.

 

17,050

 

1,757,173

 

Halliburton Co.

 

78,280

 

2,535,489

 

Noble Corp.

 

47,966

 

2,105,707

 

Schlumberger, Ltd.

 

41,032

 

3,204,189

 

Transocean, Inc. (1)

 

7,425

 

815,562

 

 

 

 

 

$

10,605,384

 

Food & Staples Retailing — 3.2%

 

 

 

 

 

CVS Caremark Corp.

 

114,235

 

$

3,845,150

 

Safeway, Inc.

 

80,171

 

1,901,656

 

Wal-Mart Stores, Inc.

 

116,937

 

7,003,357

 

 

 

 

 

$

12,750,163

 

Food Products — 0.7%

 

 

 

 

 

ConAgra Foods, Inc.

 

36,224

 

$

704,919

 

Hershey Co. (The)

 

57,147

 

2,259,592

 

 

 

 

 

$

2,964,511

 

Gas Utilities — 0.2%

 

 

 

 

 

Nicor, Inc.

 

13,905

 

$

616,687

 

 

 

 

 

$

616,687

 

Health Care Equipment & Supplies — 2.5%

 

 

 

 

 

Baxter International, Inc.

 

54,605

 

$

3,583,726

 

Becton, Dickinson & Co.

 

2,555

 

205,064

 

Boston Scientific Corp. (1)

 

37,341

 

458,174

 

Covidien, Ltd.

 

35,422

 

1,904,287

 

Medtronic, Inc.

 

54,884

 

2,749,688

 

St. Jude Medical, Inc. (1)

 

21,128

 

918,857

 

Zimmer Holdings, Inc. (1)

 

4,483

 

289,422

 

 

 

 

 

$

10,109,218

 

Health Care Providers & Services — 2.2%

 

 

 

 

 

Aetna, Inc.

 

5,376

 

$

194,127

 

Cardinal Health, Inc.

 

24,366

 

1,200,756

 

Express Scripts, Inc. (1)

 

14,298

 

1,055,478

 

Laboratory Corp. of America Holdings (1)

 

9,283

 

645,168

 

McKesson Corp.

 

39,374

 

2,118,715

 

Medco Health Solutions, Inc. (1)

 

62,860

 

2,828,700

 

Quest Diagnostics, Inc.

 

11,070

 

571,987

 

 

 

 

 

$

8,614,931

 

Hotels, Restaurants & Leisure — 1.4%

 

 

 

 

 

Carnival Corp., Unit

 

38,610

 

$

1,364,863

 

Marriott International, Inc., Class A

 

7,605

 

198,414

 

McDonald’s Corp.

 

43,420

 

2,679,014

 

Starwood Hotels & Resorts Worldwide, Inc.

 

6,011

 

169,150

 

Yum! Brands, Inc.

 

35,271

 

1,150,187

 

 

 

 

 

$

5,561,628

 

Household Durables — 0.9%

 

 

 

 

 

D.R. Horton, Inc.

 

89,029

 

$

1,159,158

 

KB HOME

 

14,126

 

278,000

 

Ryland Group, Inc.

 

8,463

 

224,439

 

Whirlpool Corp.

 

25,872

 

2,051,391

 

 

 

 

 

$

3,712,988

 

Household Products — 2.7%

 

 

 

 

 

Clorox Co. (The)

 

3,178

 

$

199,229

 

Procter & Gamble Co.

 

149,558

 

10,422,697

 

 

 

 

 

$

10,621,926

 

 

3


 

Industrial Conglomerates — 3.1%

 

 

 

 

 

3M Co.

 

57,192

 

$

3,906,786

 

General Electric Co.

 

332,550

 

8,480,025

 

 

 

 

 

$

12,386,811

 

Insurance — 3.4%

 

 

 

 

 

ACE, Ltd.

 

3,619

 

$

195,896

 

Aegon NV ADR

 

21,621

 

189,832

 

Allstate Corp. (The)

 

27,137

 

1,251,558

 

AON Corp.

 

26,775

 

1,203,804

 

Assurant, Inc.

 

3,960

 

217,800

 

First American Corp.

 

13,676

 

403,442

 

Hartford Financial Services Group, Inc.

 

51,588

 

2,114,592

 

Lincoln National Corp.

 

7,151

 

306,134

 

MetLife, Inc.

 

26,281

 

1,471,736

 

PartnerRe, Ltd.

 

5,273

 

359,039

 

Principal Financial Group, Inc.

 

5,176

 

225,104

 

Prudential Financial, Inc.

 

35,186

 

2,533,392

 

Travelers Companies, Inc. (The)

 

68,703

 

3,105,376

 

XL Capital Ltd., Class A

 

12,397

 

222,402

 

 

 

 

 

$

13,800,107

 

Internet Software & Services — 1.8%

 

 

 

 

 

Akamai Technologies, Inc. (1)

 

11,821

 

$

206,158

 

eBay, Inc. (1)

 

30,623

 

685,343

 

Google, Inc., Class A (1)

 

12,355

 

4,948,425

 

VeriSign, Inc. (1)

 

47,053

 

1,227,142

 

 

 

 

 

$

7,067,068

 

IT Services — 0.9%

 

 

 

 

 

Automatic Data Processing, Inc.

 

37,355

 

$

1,596,926

 

Cognizant Technology Solutions Corp. (1)

 

8,217

 

187,594

 

MasterCard, Inc., Class A

 

3,596

 

637,679

 

Paychex, Inc.

 

36,873

 

1,217,915

 

 

 

 

 

$

3,640,114

 

Leisure Equipment & Products — 0.5%

 

 

 

 

 

Mattel, Inc.

 

115,881

 

$

2,090,493

 

 

 

 

 

$

2,090,493

 

Life Sciences Tools & Services — 0.2%

 

 

 

 

 

Applied Biosystems, Inc.

 

6,066

 

$

207,761

 

Thermo Fisher Scientific, Inc. (1)

 

8,409

 

462,495

 

 

 

 

 

$

670,256

 

Machinery — 1.7%

 

 

 

 

 

Caterpillar, Inc.

 

56,271

 

$

3,353,752

 

Deere & Co.

 

9,755

 

482,873

 

Eaton Corp.

 

24,497

 

1,376,241

 

Ingersoll-Rand Co., Ltd., Class A

 

29,280

 

912,658

 

Parker Hannifin Corp.

 

9,499

 

503,447

 

Titan International, Inc.

 

8,316

 

177,297

 

 

 

 

 

$

6,806,268

 

Media — 1.8%

 

 

 

 

 

CBS Corp., Class B

 

13,360

 

$

194,789

 

Central European Media Enterprises, Ltd., Class A (1)

 

3,244

 

212,158

 

Comcast Corp., Class A

 

38,418

 

754,145

 

DIRECTV Group (The), Inc. (1)

 

23,697

 

620,150

 

Gannett Co., Inc.

 

12,599

 

213,049

 

Interpublic Group of Cos., Inc. (1)

 

54,079

 

419,112

 

McGraw-Hill Cos., Inc. (The)

 

5,271

 

166,616

 

Meredith Corp.

 

7,320

 

205,253

 

Walt Disney Co.

 

138,175

 

4,240,591

 

 

 

 

 

$

7,025,863

 

 

4


 

Metals & Mining — 0.9%

 

 

 

 

 

Alcoa, Inc.

 

112,277

 

$

2,535,215

 

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

 

3,074

 

174,757

 

Nucor Corp.

 

22,525

 

889,738

 

 

 

 

 

$

3,599,710

 

Multiline Retail — 0.8%

 

 

 

 

 

Big Lots, Inc. (1)

 

42,909

 

$

1,194,157

 

Dillard’s Inc. Class A

 

17,054

 

201,237

 

JC Penney Company, Inc.

 

26,756

 

892,045

 

Macy’s, Inc.

 

1

 

18

 

Nordstrom, Inc.

 

30,006

 

864,773

 

Saks, Inc. (1)

 

20,623

 

190,763

 

 

 

 

 

$

3,342,993

 

Multi-Utilities — 3.0%

 

 

 

 

 

Ameren Corp.

 

11,675

 

$

455,675

 

CenterPoint Energy, Inc.

 

17,504

 

255,033

 

CMS Energy Corp.

 

169,267

 

2,110,759

 

Consolidated Edison, Inc.

 

5,156

 

221,502

 

Dominion Resources, Inc.

 

69,536

 

2,974,750

 

DTE Energy Co.

 

4,649

 

186,518

 

Integrys Energy Group, Inc.

 

10,554

 

527,067

 

NiSource, Inc.

 

13,237

 

195,378

 

NorthWestern Corp.

 

25,000

 

628,250

 

Public Service Enterprise Group, Inc.

 

79,190

 

2,596,640

 

TECO Energy, Inc.

 

110,189

 

1,733,273

 

Xcel Energy, Inc.

 

12,009

 

240,060

 

 

 

 

 

$

12,124,905

 

Oil, Gas & Consumable Fuels — 11.4%

 

 

 

 

 

Anadarko Petroleum Corp.

 

3,913

 

$

189,820

 

Chevron Corp.

 

103,723

 

8,555,073

 

ConocoPhillips

 

90,302

 

6,614,622

 

EOG Resources, Inc.

 

26,676

 

2,386,435

 

Exxon Mobil Corp.

 

228,240

 

17,725,118

 

Hess Corp.

 

21,226

 

1,742,230

 

Marathon Oil Corp.

 

47,026

 

1,874,927

 

Occidental Petroleum Corp.

 

48,622

 

3,425,420

 

Range Resources Corp.

 

4,421

 

189,528

 

Williams Cos., Inc.

 

84,159

 

1,990,360

 

XTO Energy, Inc.

 

21,701

 

1,009,531

 

 

 

 

 

$

45,703,064

 

Paper & Forest Products — 0.6%

 

 

 

 

 

International Paper Co.

 

36,027

 

$

943,187

 

Louisiana-Pacific Corp.

 

51,977

 

483,386

 

MeadWestvaco Corp.

 

33,483

 

780,489

 

 

 

 

 

$

2,207,062

 

Personal Products — 0.4%

 

 

 

 

 

Alberto-Culver Co.

 

43,605

 

$

1,187,800

 

Estee Lauder Cos., Inc., Class A

 

8,436

 

421,041

 

 

 

 

 

$

1,608,841

 

Pharmaceuticals — 6.4%

 

 

 

 

 

Abbott Laboratories

 

96,451

 

$

5,553,649

 

Bristol-Myers Squibb Co.

 

151,729

 

3,163,550

 

Eli Lilly & Co.

 

30,507

 

1,343,223

 

Johnson & Johnson

 

107,999

 

7,482,171

 

Merck & Co., Inc.

 

58,832

 

1,856,738

 

Pfizer, Inc.

 

291,077

 

5,367,460

 

Schering-Plough Corp.

 

40,205

 

742,586

 

 

 

 

 

$

25,509,377

 

Professional Services — 0.1%

 

 

 

 

 

Robert Half International, Inc.

 

8,477

 

$

209,806

 

 

 

 

 

$

209,806

 

 

5


 

Real Estate Investment Trusts (REITs) — 0.9%

 

 

 

 

 

Developers Diversified Realty Corp.

 

6,361

 

$

201,580

 

Plum Creek Timber Co., Inc.

 

14,236

 

709,807

 

Simon Property Group, Inc.

 

29,775

 

2,888,175

 

 

 

 

 

$

3,799,562

 

Road & Rail — 0.8%

 

 

 

 

 

CSX Corp.

 

22,133

 

$

1,207,798

 

Norfolk Southern Corp.

 

17,421

 

1,153,444

 

Ryder System, Inc.

 

3,031

 

187,922

 

Union Pacific Corp.

 

11,160

 

794,146

 

 

 

 

 

$

3,343,310

 

Semiconductors & Semiconductor Equipment — 2.5%

 

 

 

 

 

Analog Devices, Inc.

 

9,079

 

$

239,232

 

Applied Materials, Inc.

 

126,068

 

1,907,409

 

Intel Corp.

 

138,665

 

2,597,195

 

KLA-Tencor Corp.

 

62,458

 

1,976,796

 

Linear Technology Corp.

 

6,750

 

206,955

 

MEMC Electronic Materials, Inc. (1)

 

6,823

 

192,818

 

Microchip Technology, Inc.

 

73,034

 

2,149,391

 

NVIDIA Corp. (1)

 

62,730

 

671,838

 

 

 

 

 

$

9,941,634

 

Software — 3.4%

 

 

 

 

 

Adobe Systems, Inc. (1)

 

32,525

 

$

1,283,762

 

Microsoft Corp.

 

366,393

 

9,779,029

 

Oracle Corp. (1)

 

121,046

 

2,458,444

 

Quest Software, Inc. (1)

 

17,700

 

224,613

 

 

 

 

 

$

13,745,848

 

Specialty Retail — 1.1%

 

 

 

 

 

Best Buy Co., Inc.

 

19,679

 

$

737,963

 

Home Depot, Inc.

 

96,589

 

2,500,689

 

Sherwin-Williams Co. (The)

 

13,337

 

762,343

 

Tiffany & Co.

 

14,641

 

520,048

 

 

 

 

 

$

4,521,043

 

Textiles, Apparel & Luxury Goods — 0.9%

 

 

 

 

 

Nike, Inc., Class B

 

47,448

 

$

3,174,271

 

VF Corp.

 

4,266

 

329,804

 

 

 

 

 

$

3,504,075

 

Tobacco — 1.5%

 

 

 

 

 

Philip Morris International, Inc.

 

67,621

 

$

3,252,570

 

Reynolds American, Inc.

 

14,352

 

697,794

 

UST, Inc.

 

32,881

 

2,187,902

 

 

 

 

 

$

6,138,266

 

Total Common Stocks
(identified cost $377,177,659)

 

 

 

$

407,042,116

 

Total Investments — 101.7%
(identified cost $377,177,659)

 

 

 

$

407,042,116

 

 

Covered Call Options Written — (1.8)%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number

 

Strike

 

Expiration

 

 

 

Description

 

of Contracts

 

Price

 

Date

 

Value

 

S&P 500 Index

 

222

 

$

1,185

 

10/18/08

 

$

(710,400

)

S&P 500 Index

 

1,510

 

1,210

 

10/18/08

 

(3,442,800

)

S&P 500 Index

 

1,681

 

1,215

 

10/18/08

 

(3,109,850

)

Total Covered Call Options Written
(premiums received $9,063,405)

 

 

 

 

 

 

 

$

(7,263,050

)

Other Assets, Less Liabilities — 0.1%

 

 

 

 

 

 

 

$

474,234

 

Net Assets — 100.0%

 

 

 

 

 

 

 

$

400,253,300

 

 

ADR

—

American Depository Receipt

(1)

 

Non-income producing security.

 

6


 

The cost and unrealized appreciation (depreciation) of investments of the Fund at September 30, 2008, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

 

$

377,145,784

 

Gross unrealized appreciation

 

$

49,084,339

 

Gross unrealized depreciation

 

(19,188,007

)

Net unrealized appreciation

 

$

29,896,332

 

 

Written call options activity for the fiscal year to date ended September 30, 2008 was as follows:

 

 

 

Number of
Contracts

 

Premiums
Received

 

Outstanding, beginning of period

 

3,239

 

$

7,157,841 

 

Options written

 

29,907

 

71,317,838

 

Options terminated in closing purchase transactions

 

(29,733

)

(69,412,274

)

Outstanding, end of period

 

3,413

 

$

9,063,405

 

 

All of the assets of the Fund are subject to segregation to satisfy the requirements of the escrow agent.  At September 30, 2008, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

 

The Fund adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157 (FAS 157), “Fair Value Measurements”, effective January 1, 2008.  FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed 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, prepayment speeds, credit risk, etc.)

·                  Level 3 – significant unobservable inputs (including a 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.

 

At September 30, 2008, the inputs used in valuing the Fund’s investments, which are carried at value, were as follows:

 

 

 

Valuation Inputs

 

Investments in
Securities

 

Other Financial
Instruments*

 

Level 1

 

Quoted Prices

 

$

407,042,116

 

$

(7,263,050

)

Level 2

 

Other Significant Observable Inputs

 

—

 

—

 

Level 3

 

Significant Unobservable Inputs

 

—

 

—

 

Total

 

 

 

$

407,042,116

 

$

(7,263,050

)

 

*Other financial instruments are written call options, which are valued at the unrealized appreciation (depreciation) on the instrument.

 

The Fund held no investments or other financial instruments as of December 31, 2007 whose fair value was determined using Level 3 inputs.

 

For information on the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

 

7


 

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 Income Fund

 

By:

/s/ Duncan W. Richardson

 

 

Duncan W. Richardson

 

President

 

 

Date:

November 21, 2008

 

 

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

 

 

Date:

November 21, 2008

 

 

 

By:

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

Treasurer

 

 

Date:

November 21, 2008