It is in fact the sale of the Genentech stock in the portfolio. It showed in my Merrill Lynch account today as a dividend of $83.5759 pernshare. I can't tell though when the fund distributionn will take place.
Today it's ex-dividend of a distribution of, I think, about $84 cash per share to distribute proceeds from Roche's purchase of Genentech out of its holdings, and Genentech was a huge percentage of its holdings.
I'm short some 160 April puts, which freaked me out a little bit this morning until I learned that if BBH is actually put to me, whoever makes good on these shares will also have to cough back the $84/share to me. Makes life interesting.