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September 30, 2025 
2025 Quarterly Report
(Unaudited)
 
BlackRock Enhanced International Dividend Trust (BGY)
 
Not FDIC Insured • May Lose Value • No Bank Guarantee
Schedule of Investments (unaudited)
September 30, 2025
BlackRock Enhanced International Dividend Trust (BGY)
(Percentages shown are based on Net Assets)
 
Security
 
 
Shares
Value
Common Stocks
Canada — 4.3%
Teck Resources Ltd., Class B(a)
 
218,453
$ 9,582,924
Toronto-Dominion Bank
 
186,649
14,924,410
 
 
24,507,334
China(b) — 7.1%
Alibaba Group Holding Ltd., ADR
 
113,991
20,373,612
Tencent Holdings Ltd., ADR(c)
 
236,362
20,126,224
 
 
40,499,836
Denmark — 2.4%
Novo Nordisk A/S, Class B
 
243,609
13,564,545
Finland — 2.1%
Kone OYJ, Class B
 
171,293
11,683,747
France — 7.1%
Air Liquide SA
 
96,400
20,085,584
Cie de Saint-Gobain SA
 
79,007
8,560,535
EssilorLuxottica SA
 
35,722
11,636,576
 
 
40,282,695
Germany — 5.4%
Deutsche Telekom AG, Class N, Registered Shares
 
312,230
10,637,508
SAP SE
 
74,577
19,969,286
 
 
30,606,794
India — 3.4%
AceVector Limited, (Acquired 01/25/22, Cost:
$3,948,600)(a)(d)(e)
 
848,000
296,169
HDFC Bank Ltd.
 
1,790,640
19,189,746
 
 
19,485,915
Italy — 2.8%
FinecoBank Banca Fineco SpA
 
740,765
16,077,306
Japan — 7.1%
Honda Motor Co. Ltd.
 
870,000
8,977,812
Keyence Corp.
 
34,600
12,890,597
Sony Group Corp.
 
634,800
18,248,407
 
 
40,116,816
Netherlands — 7.6%
ASM International NV
 
25,563
15,418,318
ASR Nederland NV
 
149,819
10,195,080
Koninklijke KPN NV
 
3,619,107
17,370,046
 
 
42,983,444
Singapore — 1.9%
United Overseas Bank Ltd.
 
397,000
10,661,609
South Africa — 1.6%
Anglo American PLC
 
247,857
9,346,018
South Korea — 2.7%
Kia Corp.
 
111,170
7,979,435
SK Hynix, Inc.
 
28,558
7,079,467
 
 
15,058,902
Spain — 5.3%
Banco Bilbao Vizcaya Argentaria SA
 
924,534
17,815,441
Industria de Diseno Textil SA
 
225,784
12,495,755
 
 
30,311,196
Sweden — 5.2%
Assa Abloy AB, Class B
 
405,242
14,105,606
Atlas Copco AB, A Shares
 
908,453
15,405,528
 
 
29,511,134
Security
 
 
Shares
Value
Switzerland — 4.4%
UBS Group AG, Registered Shares
 
346,069
$ 14,228,122
Zurich Insurance Group AG, Class N
 
15,260
10,907,587
 
 
25,135,709
Taiwan — 7.2%
MediaTek, Inc.
 
232,000
10,061,774
Taiwan Semiconductor Manufacturing Co. Ltd.
 
710,000
30,840,848
 
 
40,902,622
United Kingdom — 9.1%
AstraZeneca PLC
 
103,208
15,811,568
British American Tobacco PLC
 
204,937
10,900,041
RELX PLC
 
338,602
16,229,185
Taylor Wimpey PLC
 
6,166,586
8,566,790
 
 
51,507,584
United States — 13.0%
General Electric Co.(b)
 
31,145
9,369,039
Haleon PLC
 
2,353,096
10,589,350
Mastercard, Inc., Class A(b)(f)
 
19,341
11,001,354
Sanofi SA
 
118,195
11,192,352
Shell PLC
 
648,441
23,257,931
Waste Connections, Inc.
 
46,497
8,174,144
 
 
73,584,170
Total Long-Term Investments — 99.7%
(Cost: $431,471,115)
565,827,376
Short-Term Securities
Money Market Funds — 2.1%
BlackRock Cash Funds: Institutional, SL Agency Shares,
4.26%(g)(h)
 
4,200,000
4,202,100
BlackRock Liquidity Funds, T-Fund, Institutional Shares,
4.01%(g)(h)
 
7,568,629
7,568,629
Total Short-Term Securities — 2.1%
(Cost: $11,770,729)
11,770,729
Total Investments Before Options Written — 101.8%
(Cost: $443,241,844)
577,598,105
Options Written — (1.5)%
(Premiums Received: $(5,662,343))
(8,541,280
)
Total Investments, Net of Options Written — 100.3%
(Cost: $437,579,501)
569,056,825
Liabilities in Excess of Other Assets — (0.3)%
(1,419,102
)
Net Assets — 100.0%
$ 567,637,723
 
(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)
All or a portion of this security is on loan.
(d)
Security is valued using significant unobservable inputs and is classified as Level 3 in the
fair value hierarchy.
(e)
Restricted security as to resale, excluding 144A securities. The Trust held restricted
securities with a current value of $296,169, representing 0.1% of its net assets as of
period end, and an original cost of $3,948,600.
(f)
All or a portion of the security has been pledged as collateral in connection with
outstanding OTC derivatives.
(g)
Affiliate of the Trust.
(h)
Annualized 7-day yield as of period end.
2
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Enhanced International Dividend Trust (BGY)
 
Affiliates
Investments in issuers considered to be affiliate(s) of the Trust during the period ended September 30, 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
09/30/25
Shares
Held at
09/30/25
Income
Capital Gain
Distributions
from
Underlying
Funds
BlackRock Cash Funds: Institutional, SL Agency Shares
$ —
$ 4,202,399
(a)
$ —
$ (299
)
$ —
$ 4,202,100
4,200,000
$ 1,666
(b)
$ —
BlackRock Liquidity Funds, T-Fund, Institutional Shares
3,742,337
3,826,292
(a)
—
—
—
7,568,629
7,568,629
222,066
—
 
$ (299
)
$ —
$ 11,770,729
$ 223,732
$ —
 
(a)
Represents net amount purchased (sold).
(b)
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 
 
 
Mastercard, Inc., Class A
36
10/03/25
USD
595.00
USD
2,048
$ (468
)
Alibaba Group Holding Ltd., ADR
211
10/10/25
USD
140.00
USD
3,771
(821,317
)
Alibaba Group Holding Ltd., ADR
90
10/17/25
USD
140.00
USD
1,609
(352,575
)
General Electric Co.
99
10/17/25
USD
300.00
USD
2,978
(81,675
)
Teck Resources Ltd., Class B
408
10/17/25
CAD
50.00
CAD
2,491
(326,881
)
Toronto-Dominion Bank
428
10/17/25
CAD
110.00
CAD
4,763
(63,507
)
Alibaba Group Holding Ltd., ADR
211
10/24/25
USD
180.00
USD
3,771
(179,877
)
Mastercard, Inc., Class A
51
10/24/25
USD
595.00
USD
2,901
(17,468
)
Toronto-Dominion Bank
411
10/24/25
CAD
108.00
CAD
4,574
(109,269
)
Teck Resources Ltd., Class B
409
10/31/25
CAD
58.00
CAD
2,497
(138,126
)
General Electric Co.
72
11/21/25
USD
300.00
USD
2,166
(122,400
)
Teck Resources Ltd., Class B
409
11/21/25
CAD
60.00
CAD
2,497
(124,901
)
Waste Connections, Inc.
255
11/21/25
CAD
250.00
CAD
6,239
(76,498
)
 
 
 
$ (2,414,962
)
OTC Options Written 
Description
Counterparty
Number of
Contracts
Expiration
Date
Exercise Price
Notional
Amount (000)
Value
Call 
 
 
 
 
 
SK Hynix, Inc.
Goldman Sachs International
6,400
10/01/25
KRW
288,200.00
KRW
2,226,004
$ (270,376
)
Tencent Holdings Ltd., ADR
Morgan Stanley & Co. International PLC
38,400
10/01/25
USD
73.29
USD
3,270
(455,869
)
Honda Motor Co. Ltd.
BNP Paribas SA
195,000
10/02/25
JPY
1,796.14
JPY
297,584
—
Kia Corp.
JPMorgan Chase Bank N.A.
17,650
10/02/25
KRW
111,406.00
KRW
1,777,471
—
Koninklijke KPN NV
Barclays Bank PLC
151,100
10/02/25
EUR
3.96
EUR
618
(22,024
)
UBS Group AG, Registered Shares
Barclays Bank PLC
71,700
10/02/25
CHF
32.42
CHF
2,347
(22,748
)
Atlas Copco AB, Class A, Class A
Goldman Sachs International
236,600
10/03/25
SEK
148.86
SEK
37,773
(253,158
)
Haleon PLC
UBS AG
402,900
10/03/25
GBP
3.63
GBP
1,348
(1
)
MediaTek, Inc.
JPMorgan Chase Bank N.A.
85,000
10/03/25
TWD
1,395.65
TWD
112,355
(1,345
)
RELX PLC
BNP Paribas SA
68,700
10/03/25
EUR
41.75
EUR
2,805
(2,129
)
United Overseas Bank Ltd.
UBS AG
26,889
10/03/25
SGD
36.17
SGD
931
—
Zurich Insurance Group AG, Class N
UBS AG
7,400
10/03/25
CHF
576.47
CHF
4,211
(1,763
)
Atlas Copco AB, Class A, Class A
Goldman Sachs International
103,100
10/08/25
SEK
153.48
SEK
16,460
(65,472
)
Deutsche Telekom AG, Class N
Goldman Sachs International
71,100
10/08/25
EUR
31.72
EUR
2,063
(202
)
Koninklijke KPN NV
Goldman Sachs International
156,000
10/08/25
EUR
4.03
EUR
638
(14,103
)
United Overseas Bank Ltd.
UBS AG
140,700
10/08/25
SGD
35.26
SGD
4,874
(2,716
)
ASM International NV
Goldman Sachs International
11,500
10/09/25
EUR
450.46
EUR
5,908
(825,257
)
ASR Nederland NV
Barclays Bank PLC
35,900
10/09/25
EUR
61.90
EUR
2,081
(123
)
Banco Bilbao Vizcaya Argentaria SA
UBS AG
183,400
10/09/25
EUR
16.51
EUR
3,010
(21,241
)
Industria de Diseno Textil SA
Barclays Bank PLC
95,500
10/09/25
EUR
43.31
EUR
4,502
(413,139
)
Schedule of Investments
3
Schedule of Investments (unaudited)(continued)
September 30, 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)
 
 
 
 
 
SAP SE
Morgan Stanley & Co. International PLC
12,000
10/09/25
EUR
244.09
EUR
2,737
$ (2,805
)
Sony Group Corp.
Goldman Sachs International
69,728
10/09/25
JPY
4,136.96
JPY
296,428
(63,107
)
Taiwan Semiconductor Manufacturing Co.
Ltd.
Bank of America N.A.
46,000
10/09/25
TWD
1,236.00
TWD
60,899
(107,213
)
British American Tobacco PLC
Barclays Bank PLC
92,200
10/14/25
GBP
42.13
GBP
3,646
(2,897
)
Haleon PLC
Barclays Bank PLC
655,900
10/14/25
GBP
3.75
GBP
2,195
(459
)
Keyence Corp.
BNP Paribas SA
12,000
10/14/25
JPY
59,021.60
JPY
661,154
(21,771
)
Novo Nordisk A/S, Class B
UBS AG
10,600
10/14/25
DKK
382.84
DKK
3,753
(5,333
)
Shell PLC
Barclays Bank PLC
114,700
10/14/25
EUR
31.66
EUR
3,504
(14,168
)
SK Hynix, Inc.
Goldman Sachs International
6,400
10/15/25
KRW
280,500.00
KRW
2,226,004
(307,259
)
Taiwan Semiconductor Manufacturing Co.
Ltd.
Morgan Stanley & Co. International PLC
95,000
10/15/25
TWD
1,186.07
TWD
125,770
(374,360
)
Tencent Holdings Ltd., ADR
Morgan Stanley & Co. International PLC
35,500
10/15/25
USD
77.41
USD
3,023
(281,206
)
Koninklijke KPN NV
UBS AG
802,200
10/16/25
EUR
4.03
EUR
3,279
(86,827
)
Koninklijke KPN NV
Barclays Bank PLC
162,300
10/21/25
EUR
4.29
EUR
663
(4,411
)
RELX PLC
Barclays Bank PLC
32,600
10/21/25
EUR
41.58
EUR
1,331
(16,325
)
Tencent Holdings Ltd., ADR
Morgan Stanley & Co. International PLC
39,200
10/23/25
USD
90.50
USD
3,338
(21,520
)
Air Liquide SA
Bank of America N.A.
22,100
10/28/25
EUR
178.05
EUR
3,922
(63,596
)
Assa Abloy AB, Class B
Bank of America N.A.
72,500
10/28/25
SEK
343.70
SEK
23,758
(13,286
)
AstraZeneca PLC
Barclays Bank PLC
29,200
10/28/25
GBP
115.28
GBP
3,326
(72,751
)
Atlas Copco AB, Class A, Class A
Barclays Bank PLC
69,100
10/28/25
SEK
158.75
SEK
11,032
(25,843
)
FinecoBank Banca Fineco SpA
Morgan Stanley & Co. International PLC
266,700
10/28/25
EUR
19.14
EUR
4,930
(52,829
)
Koninklijke KPN NV
BNP Paribas SA
196,700
10/28/25
EUR
4.27
EUR
804
(6,880
)
Novo Nordisk A/S, Class B
Bank of America N.A.
51,200
10/28/25
DKK
379.74
DKK
18,126
(69,834
)
RELX PLC
Barclays Bank PLC
13,900
10/28/25
EUR
40.61
EUR
567
(16,749
)
Taylor Wimpey PLC
Barclays Bank PLC
1,387,000
10/28/25
GBP
1.00
GBP
1,433
(39,938
)
Sony Group Corp.
Bank of America N.A.
55,162
10/29/25
JPY
4,258.31
JPY
234,505
(31,768
)
Air Liquide SA
Bank of America N.A.
21,300
11/04/25
EUR
178.45
EUR
3,780
(68,622
)
AstraZeneca PLC
Bank of America N.A.
17,300
11/04/25
GBP
114.83
GBP
1,971
(55,925
)
Cie de Saint-Gobain SA
Goldman Sachs International
35,500
11/04/25
EUR
97.59
EUR
3,276
(52,892
)
EssilorLuxottica SA
Citibank N.A.
9,700
11/04/25
EUR
288.22
EUR
2,691
(47,141
)
MediaTek, Inc.
JPMorgan Chase Bank N.A.
20,000
11/04/25
TWD
1,600.60
TWD
26,436
(1,653
)
Anglo American PLC
Bank of America N.A.
111,500
11/07/25
GBP
27.57
GBP
3,126
(235,452
)
EssilorLuxottica SA
Bank of America N.A.
6,350
11/07/25
EUR
277.58
EUR
1,762
(63,946
)
Kone OYJ, Class B
Bank of America N.A.
77,000
11/07/25
EUR
58.34
EUR
4,473
(111,254
)
Shell PLC
Bank of America N.A.
14,700
11/07/25
EUR
31.52
EUR
449
(6,554
)
Banco Bilbao Vizcaya Argentaria SA
Bank of America N.A.
266,500
11/11/25
EUR
16.50
EUR
4,374
(139,221
)
Deutsche Telekom AG, Class N
Barclays Bank PLC
81,800
11/11/25
EUR
29.09
EUR
2,374
(90,073
)
FinecoBank Banca Fineco SpA
Goldman Sachs International
140,800
11/11/25
EUR
18.91
EUR
2,603
(54,030
)
Koninklijke KPN NV
Goldman Sachs International
522,200
11/11/25
EUR
4.16
EUR
2,135
(33,377
)
RELX PLC
Barclays Bank PLC
71,000
11/11/25
EUR
40.59
EUR
2,899
(105,892
)
SAP SE
Barclays Bank PLC
14,500
11/11/25
EUR
233.24
EUR
3,307
(108,455
)
Shell PLC
Goldman Sachs International
48,800
11/11/25
EUR
31.05
EUR
1,491
(32,604
)
Taiwan Semiconductor Manufacturing Co.
Ltd.
Morgan Stanley & Co. International PLC
184,000
11/11/25
TWD
1,393.60
TWD
243,597
(148,775
)
United Overseas Bank Ltd.
UBS AG
11,000
11/11/25
SGD
35.36
SGD
381
(1,677
)
Assa Abloy AB, Class B
Bank of America N.A.
109,900
11/13/25
SEK
320.27
SEK
36,014
(131,471
)
Honda Motor Co. Ltd.
UBS AG
196,500
11/13/25
JPY
1,701.34
JPY
299,873
(17,529
)
Keyence Corp.
UBS AG
3,600
11/13/25
JPY
56,733.09
JPY
198,346
(36,013
)
Kia Corp.
Goldman Sachs International
32,350
11/13/25
KRW
104,739.67
KRW
3,257,857
(59,302
)
Novo Nordisk A/S, Class B
Bank of America N.A.
23,400
11/13/25
DKK
379.15
DKK
8,284
(52,845
)
Sanofi SA
Morgan Stanley & Co. International PLC
53,200
11/13/25
EUR
80.47
EUR
4,291
(124,105
)
Sony Group Corp.
Morgan Stanley & Co. International PLC
172,451
11/13/25
JPY
4,413.95
JPY
733,125
(175,404
)
UBS Group AG, Registered Shares
Morgan Stanley & Co. International PLC
84,000
11/13/25
CHF
32.97
CHF
2,749
(97,305
)
 
 
 
 
 
 
$ (6,126,318
)
4
Schedule of Investments (unaudited)(continued)
September 30, 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
$ 24,507,334
$ —
$ —
$ 24,507,334
China
40,499,836
—
—
40,499,836
Denmark
—
13,564,545
—
13,564,545
Finland
—
11,683,747
—
11,683,747
France
—
40,282,695
—
40,282,695
Germany
—
30,606,794
—
30,606,794
India
—
19,189,746
296,169
19,485,915
Italy
—
16,077,306
—
16,077,306
Japan
—
40,116,816
—
40,116,816
Netherlands
—
42,983,444
—
42,983,444
Singapore
—
10,661,609
—
10,661,609
South Africa
—
9,346,018
—
9,346,018
South Korea
—
15,058,902
—
15,058,902
Spain
—
30,311,196
—
30,311,196
Sweden
—
29,511,134
—
29,511,134
Switzerland
—
25,135,709
—
25,135,709
Taiwan
—
40,902,622
—
40,902,622
United Kingdom
—
51,507,584
—
51,507,584
United States
28,544,537
45,039,633
—
73,584,170
Short-Term Securities 
Money Market Funds
11,770,729
—
—
11,770,729
 
$ 105,322,436
$ 471,979,500
$ 296,169
$ 577,598,105
Derivative Financial Instruments(a)
Liabilities
Equity Contracts
$ (2,414,962
)
$ (6,126,318
)
$ —
$ (8,541,280
)
 
(a)
Derivative financial instruments are options written. Options written are shown at value.
 
Currency Abbreviation 
CAD
Canadian Dollar
CHF
Swiss Franc
DKK
Danish Krone
Currency Abbreviation (continued)
EUR
Euro
GBP
British Pound
JPY
Japanese Yen
Schedule of Investments
5
Schedule of Investments (unaudited)(continued)
September 30, 2025
BlackRock Enhanced International Dividend Trust (BGY)
 
Currency Abbreviation (continued)
KRW
South Korean Won
SEK
Swedish Krona
SGD
Singapore Dollar
TWD
New Taiwan Dollar
USD
United States Dollar
 
Portfolio Abbreviation 
ADR
 American Depositary Receipt
SAP
 Subject to Appropriations
6