Aerospace & Defense — 2.9%

CAE, Inc.

United Technologies Corp.⁽¹⁾

Banks — 7.1%

DBS Group Holdings, Ltd.

JPMorgan Chase & Co.⁽¹⁾

Mitsubishi UFJ Financial Group, Inc.⁽¹⁾

U.S. Bancorp

Wells Fargo & Co.⁽¹⁾

Beverages — 3.9%

Anheuser-Busch Inbev SA/NV⁽¹⁾

Constellation Brands, Inc., Class A⁽¹⁾

Diageo PLC⁽¹⁾

Biotechnology — 4.7%

Celgene Corp.⁽¹⁾⁽²⁾

Gilead Sciences, Inc.⁽¹⁾

Shire PLC ADR⁽¹⁾

Capital Markets — 0.9%

Credit Suisse Group AG⁽¹⁾

Credit Suisse Group AG⁽¹⁾⁽³⁾

Chemicals — 1.1%

PPG Industries, Inc.⁽¹⁾

Commercial Services & Supplies — 0.9%

Brambles, Ltd.⁽¹⁾

Diversified Telecommunication Services — 2.3%

Nippon Telegraph & Telephone Corp.⁽¹⁾

Electric Utilities — 2.7%

American Electric Power Co., Inc.

NextEra Energy, Inc.⁽¹⁾

Electrical Equipment — 1.1%

Legrand SA

Electronic Equipment, Instruments & Components — 2.2%

Keyence Corp.⁽¹⁾

Energy Equipment & Services — 0.9%

Schlumberger, Ltd.⁽¹⁾

Food Products — 0.8%

Kerry Group PLC, Class A

Health Care Equipment & Supplies — 1.6%

Medtronic PLC⁽¹⁾

Hotels, Restaurants & Leisure — 0.7%

Accor SA⁽¹⁾

Household Durables — 1.9%

Newell Brands, Inc.⁽¹⁾

Household Products — 1.3%

Reckitt Benckiser Group PLC⁽¹⁾

Industrial Conglomerates — 0.9%

General Electric Co.⁽¹⁾

Insurance — 6.1%

Aflac, Inc.⁽¹⁾

AIA Group, Ltd.

Chubb, Ltd.⁽¹⁾

Prudential PLC⁽¹⁾

St. James’s Place PLC⁽¹⁾

Internet & Catalog Retail — 1.8%

Amazon.com, Inc.⁽¹⁾⁽²⁾

Internet Software & Services — 7.0%

Alphabet, Inc., Class C⁽¹⁾⁽²⁾

Facebook, Inc., Class A⁽¹⁾⁽²⁾

IT Services — 2.5%

Visa, Inc., Class A⁽¹⁾

Machinery — 3.8%

Fortive Corp.⁽²⁾

Komatsu, Ltd.

Kubota Corp.

Melrose Industries PLC⁽¹⁾

Media — 2.3%

Time Warner, Inc.⁽¹⁾

Multi-Utilities — 1.3%

National Grid PLC⁽¹⁾

Sempra Energy⁽¹⁾

Multiline Retail — 0.7%

Dollar General Corp.⁽¹⁾

Oil, Gas & Consumable Fuels — 6.3%

Anadarko Petroleum Corp.⁽¹⁾

Chevron Corp.

Occidental Petroleum Corp.⁽¹⁾

Royal Dutch Shell PLC, Class B⁽¹⁾

Personal Products — 1.3%

Estee Lauder Cos., Inc. (The), Class A⁽¹⁾

Pharmaceuticals — 12.2%

Allergan PLC⁽¹⁾⁽²⁾

Bayer AG⁽¹⁾

Eli Lilly & Co.⁽¹⁾

Johnson & Johnson

Novo Nordisk A/S, Class B⁽¹⁾

Roche Holding AG PC⁽¹⁾

Teva Pharmaceutical Industries, Ltd. ADR⁽¹⁾

Professional Services — 1.2%

Verisk Analytics, Inc.⁽¹⁾⁽²⁾

Real Estate Investment Trusts (REITs) — 2.9%

American Tower Corp.

Equity Residential

Road & Rail — 2.3%

Union Pacific Corp.⁽¹⁾

Semiconductors & Semiconductor Equipment — 2.6%

ASML Holding NV⁽¹⁾

Infineon Technologies AG

NXP Semiconductors NV⁽¹⁾⁽²⁾

Software — 0.6%

Microsoft Corp.

Specialty Retail — 3.3%

Industria de Diseno Textil SA

Lowe’s Cos., Inc.⁽¹⁾

Technology Hardware, Storage & Peripherals — 0.9%

Apple, Inc.⁽¹⁾

Textiles, Apparel & Luxury Goods — 2.9%

LVMH Moet Hennessy Louis Vuitton SE⁽¹⁾

NIKE, Inc., Class B⁽¹⁾

Pandora A/S⁽¹⁾

Tobacco — 2.5%

Imperial Brands PLC⁽¹⁾

Reynolds American, Inc.⁽¹⁾

Trading Companies & Distributors — 0.4%

Brenntag AG

Wireless Telecommunication Services — 1.0%

Vodafone Group PLC⁽¹⁾

Total Common Stocks
(identified cost $301,647,380)

Preferred Stocks — 12.5%

Banks — 6.5%

AgriBank FCB, 6.875% to 1/1/24⁽⁴⁾

CoBank ACB, Series F, 6.25% to 10/1/22⁽⁴⁾

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

Farm Credit Bank of Texas, Series 1, 10.00%

First Tennessee Bank, 3.75%⁽⁵⁾⁽⁶⁾

Huntington Bancshares, Inc., Series A, 8.50% (Convertible)

IBERIABANK Corp., Series C, 6.60% to 5/1/26⁽⁴⁾

JPMorgan Chase & Co., Series O, 5.50%

KeyCorp, Series A, 7.75% (Convertible)

Regions Financial Corp., Series A, 6.375%

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

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% (Convertible)

Capital Markets — 0.4%

Goldman Sachs Group, Inc. (The), Series N, 6.30%

KKR & Co., LP, Series A, 6.75%

State Street Corp., Series D, 5.90% to 3/15/24⁽⁴⁾

Consumer Finance — 0.5%

Capital One Financial Corp., Series B, 6.00%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 0.3%

KKR Financial Holdings, LLC, Series A, 7.375%

Electric Utilities — 1.6%

Entergy Arkansas, Inc., 6.45%

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

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

Southern Co. (The), 6.25%

Food Products — 0.9%

Dairy Farmers of America, 7.875%⁽⁵⁾

Ocean Spray Cranberries, Inc., 6.25%⁽⁵⁾

Machinery — 0.3%

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⁽⁴⁾

Real Estate Investment Trusts (REITs) — 0.7%

DDR Corp., Series J, 6.50%

Vornado Realty Trust, Series K, 5.70%

Thrifts & Mortgage Finance — 0.8%

Elmira Savings Bank, 8.998% to 12/31/17⁽⁴⁾

EverBank Financial Corp., Series A, 6.75%

Total Preferred Stocks
(identified cost $38,065,547)

Corporate Bonds & Notes — 15.9%

Banks — 7.2%

Australia and New Zealand Banking Group, Ltd., 6.75% to 6/15/26^(4)(5)(7)

Banco do Brasil SA, 9.00% to 6/18/24^(4)(5)(7)

Bank of America Corp., Series AA, 6.10% to 3/17/25⁽⁴⁾⁽⁷⁾

Barclays PLC, 8.25% to 12/15/18⁽⁴⁾⁽⁷⁾

BNP Paribas SA, 7.375% to 8/19/25^(4)(5)(7)

Caixa Economica Federal, 7.25% to 7/23/19, 7/23/24⁽⁴⁾⁽⁵⁾

Citigroup, Inc., Series T, 6.25% to 8/15/26⁽⁴⁾⁽⁷⁾

Credit Agricole SA, 7.875% to 1/23/24^(4)(5)(7)

Deutsche Bank AG, 7.50% to 4/30/25⁽⁴⁾⁽⁷⁾

JPMorgan Chase & Co., Series X, 6.10% to 10/1/24⁽⁴⁾⁽⁷⁾

JPMorgan Chase & Co., Series Z, 5.30% to 5/1/20⁽⁴⁾⁽⁷⁾

Lloyds Banking Group PLC, 6.657% to 5/21/37^(4)(5)(7)

Lloyds Banking Group PLC, 7.50% to 6/27/24⁽⁴⁾⁽⁷⁾

Royal Bank of Scotland Group PLC, 8.00% to 8/10/25⁽⁴⁾⁽⁷⁾

Societe Generale SA, 8.25% to 11/29/18^(4)(7)(8)

Standard Chartered PLC, 7.014% to 7/30/37^(4)(5)(7)

Zions Bancorporation, Series I, 5.80% to 9/15/23⁽⁴⁾⁽⁷⁾

Zions Bancorporation, Series J, 7.20% to 9/15/23⁽⁴⁾⁽⁷⁾

Capital Markets — 2.0%

Goldman Sachs Group, Inc. (The), Series M, 5.375% to 5/10/20⁽⁴⁾⁽⁷⁾

Morgan Stanley, Series J, 5.55% to 7/15/20⁽⁴⁾⁽⁷⁾

UBS Group AG, 6.875% to 8/7/25^(4)(7)(8)

Diversified Financial Services — 0.8%

Cadence Financial Corp., 4.875%, 6/28/19⁽⁵⁾

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

Textron Financial Corp., 6.00% to 2/15/17, 2/15/67⁽⁴⁾⁽⁵⁾

Diversified Telecommunication Services — 0.3%

Koninklijke KPN NV, 7.00% to 3/28/23, 3/28/73⁽⁴⁾⁽⁵⁾

Electric Utilities — 2.3%

AES Gener SA, 8.375% to 6/18/19, 12/18/73⁽⁴⁾⁽⁵⁾

AES Panama SA, 6.00%, 6/25/22⁽⁵⁾

Emera, Inc., Series 16-A, 6.75% to 6/15/26, 6/15/76⁽⁴⁾

Enel SpA, 8.75% to 9/24/23, 9/24/73⁽⁴⁾⁽⁵⁾

NextEra Energy Capital Holdings, Inc., Series D, 7.30% to 9/1/17, 9/1/67⁽⁴⁾

Energy Equipment & Services — 0.0%⁽⁹⁾

Abengoa Finance S.A.U., 7.75%, 2/1/20^(5)(10)

Food Products — 0.7%

Land O’ Lakes, Inc., 8.00%⁽⁵⁾⁽⁷⁾

Insurance — 1.1%

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

Voya Financial, Inc., 5.65% to 5/15/23, 5/15/53⁽⁴⁾

XLIT, Ltd., Series E, 6.50% to 4/15/17⁽⁴⁾⁽⁷⁾

Metals & Mining — 0.5%

BHP Billiton Finance USA, Ltd., 6.75% to 10/19/25, 10/19/75⁽⁴⁾⁽⁵⁾

Multi-Utilities — 0.1%

Dominion Resources, Inc., 5.75% to 10/1/24, 10/1/54⁽⁴⁾

Oil, Gas & Consumable Fuels — 0.0%⁽⁹⁾

Odebrecht Oil & Gas Finance, Ltd., 7.00% to 6/17/24^{(4)(5)(7)(10)}

Telecommunications — 0.7%

Colombia Telecomunicaciones SA ESP, 8.50% to 3/30/20^(4)(5)(7)

Thrifts & Mortgage Finance — 0.2%

Flagstar Bancorp, Inc., 6.125%, 7/15/21⁽⁵⁾

Total Corporate Bonds & Notes
(identified cost $55,040,164)

Exchange-Traded Funds — 1.9%

Equity Funds — 1.9%

iShares U.S. Preferred Stock ETF

Total Exchange-Traded Funds
(identified cost $5,901,256)

Short-Term Investments — 0.6%

Eaton Vance Cash Reserves Fund, LLC, 0.56%⁽¹¹⁾

Total Short-Term Investments
(identified cost $2,003,066)

Total Investments — 134.7%
(identified cost $402,657,413)

Other Assets, Less Liabilities — (34.7)%

Net Assets — 100.0%

Total Investments

ADR

PC

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)