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 811-21751
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)
Nathan A. Paul, 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: (212) 632-6000
Date of fiscal year end: 12/31
Date of reporting period: 9/30/2016
Item 1. Schedule of Investments.
Lazard World Dividend & Income Fund, Inc.
Portfolio of Investments
September 30, 2016 (unaudited)
| Description | Shares | Fair Value | ||||||
| Common Stocks | 96.6% | ||||||||
| Australia | 3.0% | ||||||||
| Alumina, Ltd. | 917,335 | $ | 1,027,485 | |||||
| DUET Group | 427,450 | 823,003 | ||||||
| Spotless Group Holdings, Ltd. | 632,671 | 519,653 | ||||||
| 2,370,141 | ||||||||
| Brazil | 2.1% | ||||||||
| Ambev SA | 105,800 | 644,791 | ||||||
| BB Seguridade Participacoes SA | 106,202 | 975,759 | ||||||
| 1,620,550 | ||||||||
| Canada | 1.1% | ||||||||
| Alaris Royalty Corp. | 49,080 | 837,235 | ||||||
| China | 4.3% | ||||||||
| Agricultural Bank of China, Ltd., Class H | 4,174,000 | 1,800,573 | ||||||
| China Construction Bank Corp., Class H | 2,035,180 | 1,519,008 | ||||||
| 3,319,581 | ||||||||
| Finland | 1.5% | ||||||||
| Sampo Oyj, A Shares | 25,966 | 1,155,014 | ||||||
| France | 7.1% | ||||||||
| AXA SA | 84,917 | 1,806,714 | ||||||
| TOTAL SA | 50,002 | 2,369,951 | ||||||
| Vivendi SA | 66,327 | 1,336,553 | ||||||
| 5,513,218 | ||||||||
| Hong Kong | 0.8% | ||||||||
| Sands China, Ltd. | 141,200 | 618,516 | ||||||
| India | 1.3% | ||||||||
| Indiabulls Housing Finance, Ltd. | 81,280 | 1,013,671 | ||||||
| Israel | 1.0% | ||||||||
| Bezeq The Israeli Telecommunication Corp., Ltd. | 395,077 | 744,688 | ||||||
| Italy | 2.7% | ||||||||
| Azimut Holding SpA | 39,893 | 587,301 | ||||||
| Snam SpA | 277,719 | 1,538,628 | ||||||
| 2,125,929 | ||||||||
| Japan | 2.5% | ||||||||
| Daiwa House Industry Co., Ltd. | 20,436 | 559,724 | ||||||
| Sumitomo Mitsui Financial Group, Inc. | 25,300 | 852,684 | ||||||
| Yumeshin Holdings Co., Ltd. | 69,700 | 534,303 | ||||||
| 1,946,711 | ||||||||
| Luxembourg | 2.4% | ||||||||
| RTL Group SA | 14,780 | 1,226,540 | ||||||
| Tenaris SA | 45,399 | 645,034 | ||||||
| 1,871,574 | ||||||||
| Description | Shares | Fair Value | ||||||
| Mexico | 1.1% | ||||||||
| Fibra Uno Administracion SA de CV REIT | 466,600 | $ | 853,078 | |||||
| Netherlands | 3.7% | ||||||||
| ING Groep NV | 94,082 | 1,159,755 | ||||||
| NN Group NV | 18,260 | 560,447 | ||||||
| Royal Dutch Shell PLC, B Shares | 45,327 | 1,176,059 | ||||||
| 2,896,261 | ||||||||
| Norway | 3.7% | ||||||||
| Telenor ASA | 169,690 | 2,917,855 | ||||||
| Portugal | 0.7% | ||||||||
| Galp Energia SGPS SA | 42,244 | 577,532 | ||||||
| Russia | 2.1% | ||||||||
| Mobile TeleSystems PJSC Sponsored ADR | 216,747 | 1,653,780 | ||||||
| South Africa | 1.6% | ||||||||
| Life Healthcare Group Holdings, Ltd. | 443,894 | 1,225,934 | ||||||
| Spain | 0.7% | ||||||||
| Abertis Infraestructuras SA | 34,987 | 544,734 | ||||||
| Sweden | 0.8% | ||||||||
| Swedbank AB, A Shares | 26,955 | 632,995 | ||||||
| Switzerland | 2.3% | ||||||||
| Novartis AG | 23,124 | 1,818,501 | ||||||
| Taiwan | 5.1% | ||||||||
| Chicony Electronics Co., Ltd. | 187,666 | 476,200 | ||||||
| Hon Hai Precision Industry Co., Ltd. | 345,345 | 874,340 | ||||||
| Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR | 85,155 | 2,604,891 | ||||||
| 3,955,431 | ||||||||
| Thailand | 1.7% | ||||||||
| Krung Thai Bank Public Co. Ltd. NVDR | 1,473,800 | 751,682 | ||||||
| Pruksa Real Estate Public Co. Ltd. (a) | 960,100 | 604,046 | ||||||
| 1,355,728 | ||||||||
| Turkey | 0.7% | ||||||||
| Tofas Turk Otomobil Fabrikasi AS | 73,371 | 535,184 | ||||||
| United Kingdom | 3.5% | ||||||||
| St James’s Place PLC | 37,660 | 463,699 | ||||||
| UBM PLC | 115,720 | 1,070,035 | ||||||
| Vodafone Group PLC | 417,422 | 1,196,906 | ||||||
| 2,730,640 | ||||||||
| United States | 39.1% | ||||||||
| Artisan Partners Asset Management, Inc., Class A | 30,224 | 822,093 | ||||||
| AT&T, Inc. | 38,103 | 1,547,363 | ||||||
| Blackstone Mortgage Trust, Inc., Class A REIT | 72,869 | 2,145,992 | ||||||
| Caterpillar, Inc. | 6,600 | 585,882 | ||||||
Lazard World Dividend & Income Fund, Inc.
Portfolio of Investments (continued)
September 30, 2016 (unaudited)
| Description | Shares | Fair Value | ||||||
| Chevron Corp. | 7,469 | $ | 768,710 | |||||
| Cisco Systems, Inc. | 94,500 | 2,997,540 | ||||||
| Communications Sales & Leasing, Inc. REIT | 25,678 | 806,546 | ||||||
| Cypress Semiconductor Corp. | 45,623 | 554,776 | ||||||
| Deere & Co. | 9,460 | 807,411 | ||||||
| Eaton Corp. PLC | 31,230 | 2,052,123 | ||||||
| Host Hotels & Resorts, Inc. REIT | 23,162 | 360,632 | ||||||
| International Paper Co. | 49,543 | 2,377,073 | ||||||
| LaSalle Hotel Properties REIT | 44,231 | 1,055,794 | ||||||
| Leidos Holdings, Inc. | 14,673 | 635,047 | ||||||
| Medical Properties Trust, Inc. REIT | 30,559 | 451,356 | ||||||
| Occidental Petroleum Corp. | 10,302 | 751,222 | ||||||
| Oceaneering International, Inc. | 24,475 | 673,307 | ||||||
| PacWest Bancorp | 53,464 | 2,294,140 | ||||||
| Pattern Energy Group, Inc. | 75,702 | 1,702,538 | ||||||
| Pfizer, Inc. | 94,507 | 3,200,952 | ||||||
| QUALCOMM, Inc. | 20,688 | 1,417,128 | ||||||
| The Procter & Gamble Co. | 14,426 | 1,294,734 | ||||||
| Verizon Communications, Inc. | 22,355 | 1,162,013 | ||||||
| 30,464,372 | ||||||||
| Total Common Stocks (Cost $78,092,803) | 75,298,853 | |||||||
| Description | Principal Amount (000) (b) | Fair Value | ||||||
| Foreign Government Obligations | 14.5% | ||||||||
| Brazil | 2.5% | ||||||||
| Brazil NTN-B: | ||||||||
| 6.00%, 08/15/20 | 1,074 | $ | 970,603 | |||||
| 6.00%, 08/15/26 | 680 | 618,947 | ||||||
| 6.00%, 05/15/35 | 410 | 377,463 | ||||||
| 1,967,013 | ||||||||
| Colombia | 1.0% | ||||||||
| Colombian Titulos De Tesoreria: | ||||||||
| 7.00%, 05/04/22 | 1,670,000 | 587,285 | ||||||
| 10.00%, 07/24/24 | 490,000 | 201,436 | ||||||
| 788,721 | ||||||||
| Hungary | 0.9% | ||||||||
| Hungary Government Bond, 7.50%, 11/12/20 | 166,000 | 747,330 | ||||||
| Indonesia | 1.7% | ||||||||
| Indonesia Government Bonds: | ||||||||
| 7.875%, 04/15/19 | 9,937,000 | 781,430 | ||||||
| 8.375%, 09/15/26 | 6,853,000 | 573,140 | ||||||
| 1,354,570 | ||||||||
| Description | Principal Amount (000) (b) | Fair Value | ||||||
| Malaysia | 1.0% | ||||||||
| Malaysia Government Bond, 3.80%, 08/17/23 | 3,315 | $ | 818,761 | |||||
| Mexico | 2.9% | ||||||||
| Mexican Bonos: | ||||||||
| 4.75%, 06/14/18 | 2,300 | 117,337 | ||||||
| 6.50%, 06/10/21 | 21,720 | 1,151,521 | ||||||
| 5.75%, 03/05/26 | 6,600 | 333,693 | ||||||
| Mexican Udibonos, 2.50%, 12/10/20 | 12,328 | 635,854 | ||||||
| 2,238,405 | ||||||||
| Russia | 2.1% | ||||||||
| Russia Government Bonds - OFZ: | ||||||||
| 7.50%, 08/18/21 | 52,900 | 818,540 | ||||||
| 7.60%, 07/20/22 | 52,500 | 812,578 | ||||||
| 1,631,118 | ||||||||
| Serbia | 0.5% | ||||||||
| Serbia Treasury Bond, 6.00%, 02/22/19 | 41,400 | 389,839 | ||||||
| South Africa | 0.3% | ||||||||
| Republic of South Africa, 10.50%, 12/21/26 | 2,700 | 220,930 | ||||||
| Turkey | 1.0% | ||||||||
| Turkey Government Bond, 4.00%, 04/01/20 | 2,145 | 751,859 | ||||||
| Uganda | 0.6% | ||||||||
| Uganda Government Bonds: | ||||||||
| 18.375%, 02/18/21 | 894,300 | 275,966 | ||||||
| 16.50%, 05/13/21 | 565,700 | 166,033 | ||||||
| 441,999 | ||||||||
| Total Foreign Government Obligations (Cost $11,486,000) | 11,350,545 | |||||||
| Total Investments | 111.1% (Cost $89,578,803) (c), (d) | $ | 86,649,398 | ||||||
| Liabilities in Excess of Cash and Other Assets | (11.1)% | (8,689,687) | |||||||
| Net Assets | 100.0% | $ | 77,959,711 | ||||||
Lazard World Dividend & Income Fund, Inc.
Portfolio of Investments (continued)
September 30, 2016 (unaudited)
Forward Currency Contracts open at September 30, 2016:
| Currency Purchased |
Quantity | Currency Sold |
Quantity | Counterparty | Settlement Date |
Unrealized Appreciation |
Unrealized Depreciation | |||||||
| ARS | 4,629,270 | USD | 300,212 | BNP | 10/28/16 | $ | — | $ | 2,420 | |||||
| ARS | 8,892,000 | USD | 570,000 | BNP | 11/02/16 | 585 | — | |||||||
| ARS | 10,500,220 | USD | 675,907 | CIT | 10/31/16 | — | 1,456 | |||||||
| ARS | 3,332,500 | USD | 215,000 | CIT | 11/09/16 | — | 1,922 | |||||||
| BRL | 461,630 | USD | 134,000 | BNP | 10/11/16 | 7,646 | — | |||||||
| BRL | 1,190,256 | USD | 362,000 | BNP | 10/19/16 | 2,399 | — | |||||||
| BRL | 1,356,426 | USD | 415,254 | JPM | 10/11/16 | 949 | — | |||||||
| BRL | 741,055 | USD | 217,000 | JPM | 01/20/17 | 3,772 | — | |||||||
| CLP | 261,708,750 | USD | 387,000 | BNP | 10/07/16 | 10,896 | — | |||||||
| COP | 31,465,000 | USD | 10,701 | CIT | 10/03/16 | 212 | — | |||||||
| COP | 866,889,000 | USD | 291,000 | CIT | 10/03/16 | 9,653 | — | |||||||
| COP | 1,734,942,000 | USD | 582,000 | HSB | 11/04/16 | 16,080 | — | |||||||
| COP | 1,680,000,000 | USD | 560,000 | JPM | 10/18/16 | 21,098 | — | |||||||
| DOP | 7,787,700 | USD | 168,821 | CIT | 10/06/16 | — | 32 | |||||||
| DOP | 10,660,730 | USD | 230,005 | CIT | 10/07/16 | 1,062 | — | |||||||
| DOP | 15,824,000 | USD | 342,215 | CIT | 10/28/16 | 1,056 | — | |||||||
| DOP | 19,909,000 | USD | 427,232 | CIT | 10/31/16 | 4,595 | — | |||||||
| EGP | 3,062,890 | USD | 309,383 | BNP | 11/30/16 | — | 32,116 | |||||||
| EGP | 3,233,750 | USD | 325,000 | BNP | 11/30/16 | — | 32,266 | |||||||
| EGP | 3,658,950 | USD | 346,000 | BNP | 02/24/17 | — | 40,109 | |||||||
| EUR | 366,000 | PLN | 1,575,264 | JPM | 10/20/16 | — | 344 | |||||||
| EUR | 514,000 | USD | 578,250 | CAB | 11/28/16 | 573 | — | |||||||
| EUR | 498,420 | USD | 565,089 | JPM | 11/01/16 | — | 4,459 | |||||||
| EUR | 1,034,167 | USD | 1,165,000 | JPM | 11/01/16 | — | 1,756 | |||||||
| GHS | 963,900 | USD | 204,000 | BRC | 07/17/17 | 422 | — | |||||||
| GHS | 995,100 | USD | 248,000 | CIT | 10/11/16 | 2,096 | — | |||||||
| GHS | 832,500 | USD | 185,000 | CIT | 04/06/17 | 2,224 | — | |||||||
| HUF | 163,049,808 | USD | 592,198 | CIT | 10/07/16 | 2,470 | — | |||||||
| IDR | 116,240,000 | USD | 8,000 | CIT | 03/22/17 | 694 | — | |||||||
| IDR | 5,609,990,000 | USD | 401,000 | CIT | 03/22/17 | 18,595 | — | |||||||
| IDR | 4,687,840,000 | USD | 332,000 | CIT | 05/02/17 | 17,129 | — | |||||||
| IDR | 6,173,550,000 | USD | 459,000 | HSB | 01/23/17 | 6,391 | — | |||||||
| IDR | 3,775,380,000 | USD | 267,000 | HSB | 05/09/17 | 13,997 | — | |||||||
| ILS | 2,860,951 | USD | 764,000 | JPM | 11/28/16 | 453 | — | |||||||
| INR | 45,940,500 | USD | 675,000 | JPM | 10/07/16 | 14,516 | — | |||||||
| INR | 86,836,270 | USD | 1,282,000 | SCB | 10/24/16 | 17,423 | — | |||||||
| JPY | 68,418,674 | USD | 687,000 | CIT | 10/06/16 | — | 12,240 | |||||||
| KES | 41,698,800 | USD | 396,000 | CIT | 03/13/17 | 5,349 | — | |||||||
| KES | 37,896,300 | USD | 369,000 | JPM | 12/30/16 | 423 | — | |||||||
| KRW | 826,515,310 | USD | 757,000 | SCB | 10/13/16 | — | 6,583 | |||||||
| KZT | 204,585,000 | USD | 593,000 | CIT | 11/14/16 | 7,752 | — | |||||||
| KZT | 129,930,000 | USD | 355,000 | HSB | 03/29/17 | 12,738 | — | |||||||
| KZT | 137,317,000 | USD | 389,000 | JPM | 01/09/17 | 7,839 | — | |||||||
| MYR | 4,434,936 | USD | 1,070,000 | JPM | 10/26/16 | 1,077 | — | |||||||
| PEN | 1,293,888 | USD | 384,000 | BNP | 10/31/16 | — | 2,529 | |||||||
| PEN | 2,631,902 | USD | 772,000 | CIT | 11/16/16 | 2,354 | — |
Lazard World Dividend & Income Fund, Inc.
Portfolio of Investments (continued)
September 30, 2016 (unaudited)
Forward Currency Contracts open at September 30, 2016 (continued):
| Currency Purchased |
Quantity | Currency Sold |
Quantity | Counterparty | Settlement Date |
Unrealized Appreciation |
Unrealized Depreciation | |||||||
| PEN | 1,278,557 | USD | 379,000 | HSB | 10/05/16 | $ | — | $ | 1,109 | |||||
| PEN | 1,332,974 | USD | 388,000 | HSB | 12/05/16 | 3,131 | — | |||||||
| PHP | 35,459,240 | USD | 758,000 | JPM | 11/02/16 | — | 27,367 | |||||||
| PHP | 29,591,100 | USD | 610,000 | JPM | 12/05/16 | — | 816 | |||||||
| PHP | 18,742,580 | USD | 394,000 | SCB | 10/13/16 | — | 7,611 | |||||||
| PLN | 3,061,649 | EUR | 695,000 | JPM | 10/20/16 | 19,048 | — | |||||||
| RON | 1,999,997 | USD | 509,203 | CIT | 04/13/17 | — | 1,481 | |||||||
| RSD | 42,652,050 | EUR | 343,000 | CIT | 12/09/16 | 167 | — | |||||||
| RSD | 40,946,400 | EUR | 330,000 | CIT | 12/15/16 | — | 980 | |||||||
| RUB | 9,230,760 | USD | 144,000 | CAB | 10/28/16 | 2,222 | — | |||||||
| RUB | 45,980,423 | USD | 709,000 | CAB | 10/28/16 | 19,364 | — | |||||||
| THB | 13,618,140 | USD | 392,986 | CIT | 11/10/16 | — | 175 | |||||||
| THB | 21,275,415 | USD | 609,000 | JPM | 10/14/16 | 4,909 | — | |||||||
| THB | 25,847,781 | USD | 746,000 | SCB | 11/10/16 | — | 428 | |||||||
| TRY | 3,443,348 | USD | 1,157,000 | CAB | 11/23/16 | — | 21,218 | |||||||
| UGX | 851,162,000 | USD | 247,000 | BRC | 11/07/16 | 1,162 | — | |||||||
| UGX | 683,178,000 | USD | 186,000 | CIT | 12/23/16 | 9,804 | — | |||||||
| UGX | 2,585,520,000 | USD | 750,296 | JPM | 10/17/16 | 9,354 | — | |||||||
| USD | 68,000 | BRL | 67,634 | BNP | 10/11/16 | 366 | — | |||||||
| USD | 869,000 | BRL | 1,193,477 | UBS | 01/20/17 | — | 324,477 | |||||||
| USD | 314,000 | COP | 311,566 | CIT | 10/03/16 | 2,434 | — | |||||||
| USD | 53,000 | COP | 54,049 | CIT | 10/18/16 | — | 1,049 | |||||||
| USD | 348,471 | EGP | 305,891 | BNP | 02/24/17 | 42,581 | — | |||||||
| USD | 280,229 | EGP | 250,505 | CIT | 11/30/16 | 29,724 | — | |||||||
| USD | 354,000 | EGP | 319,496 | HSB | 11/30/16 | 34,504 | — | |||||||
| USD | 97,816 | EUR | 98,045 | CIT | 12/09/16 | — | 229 | |||||||
| USD | 595,415 | EUR | 607,058 | JPM | 10/20/16 | — | 11,643 | |||||||
| USD | 476,447 | EUR | 480,295 | JPM | 11/01/16 | — | 3,848 | |||||||
| USD | 2,223,776 | EUR | 2,235,325 | JPM | 11/01/16 | — | 11,550 | |||||||
| USD | 246,923 | GHS | 250,096 | CIT | 10/11/16 | — | 3,172 | |||||||
| USD | 186,957 | GHS | 187,224 | CIT | 04/06/17 | — | 267 | |||||||
| USD | 206,208 | GHS | 204,422 | CIT | 07/17/17 | 1,786 | — | |||||||
| USD | 587,982 | HUF | 587,815 | BNP | 08/29/17 | 167 | — | |||||||
| USD | 576,000 | IDR | 575,753 | JPM | 12/13/16 | 247 | — | |||||||
| USD | 439,015 | IDR | 444,631 | JPM | 01/23/17 | — | 5,616 | |||||||
| USD | 1,258,389 | JPY | 1,271,421 | CIT | 10/06/16 | — | 13,032 | |||||||
| USD | 790,000 | MXN | 798,412 | CIT | 10/26/16 | — | 8,412 | |||||||
| USD | 374,669 | PEN | 377,891 | HSB | 10/05/16 | — | 3,222 | |||||||
| USD | 505,880 | RON | 507,723 | JPM | 04/13/17 | — | 1,842 | |||||||
| USD | 613,414 | THB | 613,909 | JPM | 10/14/16 | — | 495 | |||||||
| USD | 295,357 | UGX | 299,387 | HSB | 10/17/16 | — | 4,029 | |||||||
| USD | 863,000 | ZAR | 875,389 | CIT | 10/03/16 | — | 12,389 | |||||||
| USD | 1,783,860 | ZAR | 1,773,136 | CIT | 10/03/16 | 10,725 | — | |||||||
| USD | 740,000 | ZAR | 748,862 | CIT | 11/30/16 | — | 8,862 | |||||||
| USD | 2,222,000 | ZAR | 2,181,017 | JPM | 10/03/16 | 40,983 | — | |||||||
| UYU | 24,887,280 | USD | 857,000 | CIT | 11/23/16 | 5,465 | — |
Lazard World Dividend & Income Fund, Inc.
Portfolio of Investments (concluded)
September 30, 2016 (unaudited)
Forward Currency Contracts open at September 30, 2016 (concluded):
| Currency Purchased |
Quantity | Currency Sold |
Quantity | Counterparty | Settlement Date |
Unrealized Appreciation |
Unrealized Depreciation | |||||||||
| ZAR | 5,318,621 | USD | 379,000 | CIT | 10/03/16 | $ | 8,584 | $ | — | |||||||
| ZAR | 5,376,293 | USD | 367,000 | CIT | 10/03/16 | 24,787 | — | |||||||||
| ZAR | 7,012,130 | USD | 485,000 | CIT | 10/03/16 | 25,995 | — | |||||||||
| ZAR | 9,277,764 | USD | 683,621 | CIT | 10/03/16 | — | 7,522 | |||||||||
| ZAR | 17,793,546 | USD | 1,168,000 | CIT | 10/03/16 | 128,669 | — | |||||||||
| ZAR | 21,495,037 | USD | 1,547,318 | CIT | 10/03/16 | 19,090 | — | |||||||||
| ZAR | 22,825,264 | USD | 1,655,000 | CIT | 11/30/16 | — | 9,706 | |||||||||
| Total gross unrealized appreciation/depreciation on Forward Currency Contracts | $ | 659,786 | $ | 630,779 | ||||||||||||
| Currency Abbreviations: | |
| ARS | — Argentinian Peso |
| BRL | — Brazilian Real |
| CLP | — Chilean Peso |
| COP | — Colombian Peso |
| DOP | — Dominican Republic Peso |
| EGP | — Egyptian Pound |
| EUR | — Euro |
| GHS | — Ghanaian Cedi |
| HUF | — Hungarian Forint |
| IDR | — Indonesian Rupiah |
| ILS | — Israeli Shekel |
| INR | — Indian Rupee |
| JPY | — Japanese Yen |
| KES | — Kenyan Shilling |
| KRW | — South Korean Won |
| KZT | — Kazakhstan Tenge |
| MXN | — Mexican New Peso |
| MYR | — Malaysian Ringgit |
| PEN | — Peruvian New Sol |
| PHP | — Philippine Peso |
| PLN | — Polish Zloty |
| RON | — New Romanian Leu |
| RSD | — Serbian Dinar |
| RUB | — Russian Ruble |
| 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 |
| BRC | — Barclays Bank PLC |
| CAB | — Credit Agricole Corporate and Investment Bank |
| CIT | — Citibank NA |
| HSB | — HSBC Bank USA NA |
| JPM | — JPMorgan Chase Bank NA |
| SCB | — Standard Chartered Bank |
| UBS | — UBS AG |
Lazard World Dividend & Income Fund, Inc.
Notes to Portfolio of Investments
September 30, 2016 (unaudited)
(a) Security valued using Level 2 inputs, based on reference to a similar security which was trading on an active market, under accounting principles generally accepted in the United States of America hierarchy.
(b) Principal amount denominated in respective country’s currency.
(c) For federal income tax purposes, the aggregate cost was $89,578,803, aggregate gross unrealized appreciation was $4,368,883, aggregate gross unrealized depreciation was $7,298,288 and the net unrealized depreciation was $2,929,405.
(d) Lazard World Dividend & Income Fund, Inc. (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 |
| NVDR | - Non-Voting Depository Receipt |
| PJSC | - Public Joint Stock Company |
| REIT | - Real Estate Investment Trust |
Portfolio holdings by industry* (as a percentage of net assets):
| Automobiles | 0.7 | % | |
| Banks | 11.6 | ||
| Beverages | 0.8 | ||
| Capital Markets | 2.9 | ||
| Commercial Services & Suppliers | 0.7 | ||
| Communications Equipment | 3.8 | ||
| Containers & Packaging | 3.0 | ||
| Diversified Telecommunication Services | 8.2 | ||
| Electrical Equipment | 2.6 | ||
| Electronic Equipment, Instruments & Components | 1.1 | ||
| Energy Equipment & Services | 1.7 | ||
| Equity Real Estate Investment Trusts (REITs) | 4.5 | ||
| Gas Utilities | 2.0 | ||
| Health Care Providers & Services | 1.6 | ||
| Hotels, Restaurants & Leisure | 0.8 | ||
| Household Products | 1.7 | ||
| Independent Power and Renewable Electricity Producers | 2.2 | ||
| Insurance | 6.4 | ||
| IT Services | 0.8 | ||
| Machinery | 1.8 | ||
| Media | 4.7 | ||
| Metals & Mining | 1.3 | ||
| Mortgage Real Estate Investment Trusts (REITs) | 2.7 | ||
| Multi-Utilities | 1.0 | ||
| Oil, Gas & Consumable Fuels | 7.2 | ||
| Pharmaceuticals | 6.4 | ||
| Professional Services | 0.7 | ||
| Real Estate Management & Development | 1.5 | ||
| Semiconductors & Semiconductor Equipment | 5.9 | ||
| Technology Hardware, Storage & Peripherals | 0.6 | ||
| Thrifts & Mortgage Finance | 1.3 | ||
| Transportation Infrastructure | 0.7 |
| Wireless Telecommunication Services | 3.7 | ||
| Subtotal | 96.6 | ||
| Foreign Government Obligations | 14.5 | ||
| Total Investments | 111.1 | % |
| * | 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 on Form N-Q 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 on Form N-Q 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.
Item 3. Exhibits.
Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940 are attached as Exhibit 99.CERT.
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/ Charles L. Carroll |
| Charles L. Carroll | |
| Chief Executive Officer |
Date: November 28, 2016
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/ Charles L. Carroll |
| Charles L. Carroll | |
| Chief Executive Officer |
Date: November 28, 2016
| By: | /s/ Christopher Snively |
| Christopher Snively | |
| Chief Financial Officer |
Date: November 28, 2016