Aerospace & Defense — 2.5%

Honeywell International, Inc.

United Technologies Corp.⁽¹⁾

Air Freight & Logistics — 1.1%

C.H. Robinson Worldwide, Inc.⁽¹⁾

Banks — 10.6%

Bank of America Corp.⁽¹⁾

Citigroup, Inc.⁽¹⁾

JPMorgan Chase & Co.⁽¹⁾

KeyCorp

PNC Financial Services Group, Inc. (The)⁽¹⁾

Wells Fargo & Co.⁽¹⁾

Capital Markets — 5.8%

Affiliated Managers Group, Inc.⁽¹⁾⁽²⁾

Credit Suisse Group AG

Goldman Sachs Group, Inc. (The)

Invesco, Ltd.

Chemicals — 4.8%

Monsanto Co.

PPG Industries, Inc.

Praxair, Inc.

Syngenta AG ADR

Communications Equipment — 1.2%

QUALCOMM, Inc.⁽¹⁾

Diversified Telecommunication Services — 1.5%

Verizon Communications, Inc.⁽¹⁾

Electric Utilities — 2.7%

Edison International⁽¹⁾

NextEra Energy, Inc.⁽¹⁾

Electrical Equipment — 1.0%

Emerson Electric Co.

Hubbell, Inc., Class B

Food & Staples Retailing — 3.3%

CVS Health Corp.⁽¹⁾

Kroger Co. (The)⁽¹⁾

Food Products — 2.1%

General Mills, Inc.⁽¹⁾

Mondelez International, Inc., Class A⁽¹⁾

Health Care Equipment & Supplies — 2.3%

Medtronic PLC⁽¹⁾

Stryker Corp.⁽¹⁾

Health Care Providers & Services — 0.5%

McKesson Corp.

Industrial Conglomerates — 4.1%

General Electric Co.

Insurance — 4.6%

ACE, Ltd.⁽¹⁾

Aflac, Inc.

Lincoln National Corp.

Prudential PLC

XL Group PLC⁽¹⁾

Internet Software & Services — 0.9%

Google, Inc., Class C⁽¹⁾⁽²⁾

Life Sciences Tools & Services — 1.2%

Thermo Fisher Scientific, Inc.⁽¹⁾

Machinery — 0.2%

Trinity Industries, Inc.

Media — 3.7%

CBS Corp., Class B⁽¹⁾

Walt Disney Co. (The)⁽¹⁾

Metals & Mining — 0.5%

Nucor Corp.

Multi-Utilities — 2.8%

PG&E Corp.⁽¹⁾

Sempra Energy⁽¹⁾

Oil, Gas & Consumable Fuels — 7.6%

Anadarko Petroleum Corp.

Chevron Corp.⁽¹⁾

Devon Energy Corp.

Exxon Mobil Corp.⁽¹⁾

Occidental Petroleum Corp.⁽¹⁾

Phillips 66

Paper & Forest Products — 0.8%

International Paper Co.⁽¹⁾

Pharmaceuticals — 8.2%

AbbVie, Inc.

Eli Lilly & Co.⁽¹⁾

Merck & Co., Inc.⁽¹⁾

Pfizer, Inc.

Roche Holding AG PC⁽¹⁾

Teva Pharmaceutical Industries, Ltd. ADR⁽¹⁾

Real Estate Investment Trusts (REITs) — 3.6%

Equity Residential⁽¹⁾

Public Storage⁽¹⁾

Simon Property Group, Inc.⁽¹⁾

Semiconductors & Semiconductor Equipment — 1.8%

Intel Corp.

Software — 3.8%

Microsoft Corp.⁽¹⁾

Oracle Corp.

SAP SE

Specialty Retail — 1.3%

Home Depot, Inc. (The)⁽¹⁾

TJX Cos., Inc. (The)

Tobacco — 3.2%

Altria Group, Inc.⁽¹⁾

Reynolds American, Inc.⁽¹⁾

Total Common Stocks
(identified cost $1,238,085,744)

Preferred Stocks — 23.5%

Banks — 11.9%

AgriBank FCB, 6.875% to 1/1/24⁽³⁾

Barclays Bank PLC, 8.25% to 12/15/18⁽³⁾

Citigroup, Inc., Series K, 6.875% to 11/15/23⁽³⁾

CoBank ACB, Series F, 6.25% to 10/1/22⁽³⁾

Farm Credit Bank of Texas, 6.75% to 9/15/23⁽³⁾⁽⁴⁾

Farm Credit Bank of Texas, Series 1, 10.00%

First Tennessee Bank, 3.75%⁽⁴⁾⁽⁵⁾

HSBC Capital Funding LP, Series 2, 10.176% to 6/30/30⁽³⁾⁽⁴⁾

JPMorgan Chase & Co., Series R, 6.00% to 8/1/23⁽³⁾

JPMorgan Chase & Co., Series X, 6.10% to 10/1/24⁽³⁾

JPMorgan Chase & Co., Series Y, 6.125%

KeyCorp, Series A, 7.75%

Lloyds Banking Group PLC, 6.657% to 5/21/37⁽³⁾⁽⁴⁾

Northern Trust Corp., Series C, 5.85%

Regions Financial Corp., Series A, 6.375%

Royal Bank of Scotland Group PLC, Series L, 5.75%

Royal Bank of Scotland Group PLC, Series S, 6.60%

Standard Chartered PLC, 7.014% to 7/30/37⁽³⁾⁽⁴⁾

SunTrust Banks, Inc., Series E, 5.875%

Texas Capital Bancshares, Inc., 6.50%

Texas Capital Bancshares, Inc., Series A, 6.50%

Webster Financial Corp., Series E, 6.40%

Wells Fargo & Co., Series L, 7.50%

Zions Bancorporation, Series G, 6.30% to 3/15/23⁽³⁾

Zions Bancorporation, Series I, 5.80% to 9/15/23⁽³⁾

Zions Bancorporation, Series J, 7.20% to 9/15/23⁽³⁾

Capital Markets — 2.4%

Affiliated Managers Group, Inc., 6.375%

Goldman Sachs Group, Inc. (The), Series I, 5.95%

Goldman Sachs Group, Inc. (The), Series J, 5.50% to 5/10/23⁽³⁾

Morgan Stanley, Series G, 6.625%

State Street Corp., Series D, 5.90% to 3/15/24⁽³⁾

Consumer Finance — 1.2%

Ally Financial, Inc., Series A, 8.50% to 5/15/16⁽³⁾

Capital One Financial Corp., Series B, 6.00%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 1.3%

KKR Financial Holdings, LLC, Series A, 7.375%

RBS Capital Funding Trust VII, Series G, 6.08%

Electric Utilities — 1.3%

AES Gener SA, 8.375% to 6/18/19⁽³⁾⁽⁴⁾

Entergy Arkansas, Inc., 6.45%

NextEra Energy Capital Holdings, Inc., Series G, 5.70%

NextEra Energy Capital Holdings, Inc., Series I, 5.125%

Food Products — 0.9%

Dairy Farmers of America, 7.875%⁽⁴⁾

Ocean Spray Cranberries, Inc., 6.25%⁽⁴⁾

Insurance — 1.1%

American Overseas Group, Ltd., Series A, 7.50% to 12/15/16⁽³⁾

Aspen Insurance Holdings, Ltd., 5.95% to 7/1/23⁽³⁾

Aspen Insurance Holdings, Ltd., 7.401% to 1/1/17⁽³⁾

Endurance Specialty Holdings, Ltd., Series B, 7.50%

Montpelier Re Holdings, Ltd., 8.875%

Machinery — 1.0%

Stanley Black & Decker, Inc., 5.75%

Multi-Utilities — 0.1%

DTE Energy Co., Series C, 5.25%

Pipelines — 0.4%

NuStar Logistics LP, 7.625% to 1/15/18⁽³⁾

Real Estate Investment Trusts (REITs) — 1.0%

American Realty Capital Properties, Inc., Series F, 6.70%

Cedar Realty Trust, Inc., Series B, 7.25%

DDR Corp., Series J, 6.50%

DDR Corp., Series K, 6.25%

Thrifts & Mortgage Finance — 0.9%

Elmira Savings Bank, 8.998% to 12/31/17⁽³⁾

EverBank Financial Corp., Series A, 6.75%

Total Preferred Stocks
(identified cost $379,499,586)

Corporate Bonds & Notes — 11.9%

Banks — 5.2%

Banco do Brasil SA, 9.00% to 6/18/24, 6/29/49⁽³⁾⁽⁴⁾

Bank of America Corp., Series AA, 6.10% to 3/17/25, 12/29/49⁽³⁾

Caixa Economica Federal, 7.25% to 7/23/19, 7/23/24⁽³⁾⁽⁴⁾

Credit Agricole SA, 7.875% to 1/23/24, 1/29/49⁽³⁾⁽⁴⁾

Credit Suisse Group AG, 6.25% to 12/18/24, 12/29/49⁽³⁾⁽⁴⁾

Deutsche Bank AG, 7.50% to 4/30/25, 12/29/49⁽³⁾

JPMorgan Chase & Co., Series Z, 5.30% to 5/1/20, 12/29/49⁽³⁾

Societe Generale SA, 8.25% to 11/29/18, 9/29/49⁽³⁾⁽⁶⁾

SunTrust Preferred Capital I, 4.00%, 6/29/49⁽⁵⁾

Chemicals — 0.2%

Sinochem Group, 5.00% to 11/2/18, 12/29/49⁽³⁾⁽⁴⁾

Diversified Financial Services — 0.6%

Leucadia National Corp., 6.625%, 10/23/43

Textron Financial Corp., 6.00% to 2/15/17, 2/15/67⁽³⁾⁽⁴⁾

Diversified Telecommunication Services — 0.5%

Koninklijke KPN NV, 7.00% to 3/28/23, 3/28/73⁽³⁾⁽⁴⁾

Electric Utilities — 1.8%

Enel SpA, 8.75% to 9/24/23, 9/24/73⁽³⁾⁽⁴⁾

PPL Capital Funding, Inc., Series A, 6.70% to 3/30/17, 3/30/67⁽³⁾

Energy Equipment & Services — 0.3%

Abengoa Finance S.A.U., 7.75%, 2/1/20⁽⁴⁾

Insurance — 2.0%

Genworth Financial, Inc., 7.625%, 9/24/21

Genworth Financial, Inc., 7.70%, 6/15/20

MetLife, Inc., 10.75%, 8/1/69

QBE Capital Funding III, Ltd., 7.25% to 5/24/21, 5/24/41⁽³⁾⁽⁴⁾

XLIT, Ltd., Series E, 6.50% to 4/15/17, 10/29/49⁽³⁾

Oil, Gas & Consumable Fuels — 0.5%

Odebrecht Oil & Gas Finance, Ltd., 7.00% to 6/17/24, 12/29/49⁽³⁾⁽⁴⁾

Telecommunications — 0.8%

Colombia Telecomunicaciones SA ESP, 8.50% to 3/30/20, 12/29/49⁽³⁾⁽⁴⁾

Total Corporate Bonds & Notes
(identified cost $193,290,674)

Exchange-Traded Funds — 2.0%

Equity Funds — 2.0%

iShares U.S. Preferred Stock ETF

Total Exchange-Traded Funds
(identified cost $34,377,880)

Short-Term Investments — 0.7%

Eaton Vance Cash Reserves Fund, LLC, 0.18%⁽⁷⁾

Total Short-Term Investments
(identified cost $11,047,867)

Total Investments — 125.8%
(identified cost $1,856,301,751)

Other Assets, Less Liabilities — (25.8)%

Net Assets — 100.0%

ADR

PC

United States

Switzerland

United Kingdom

Ireland

France

Germany

Israel

Brazil

Netherlands

Italy

Colombia

Chile

Bermuda

Australia

Spain

China

Total Investments

Aggregate cost

Gross unrealized appreciation

Gross unrealized depreciation

Net unrealized appreciation

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)

Consumer Discretionary

Consumer Staples

Energy

Financials

Health Care

Industrials

Information Technology

Materials

Telecommunication Services