Aerospace & Defense — 2.1%

Safran SA⁽¹⁾

United Technologies Corp.

Air Freight & Logistics — 1.4%

C.H. Robinson Worldwide, Inc.⁽¹⁾

Automobiles — 0.6%

Toyota Motor Corp.⁽¹⁾

Banks — 9.7%

Bank of America Corp.⁽¹⁾

Citigroup, Inc.⁽¹⁾

Credit Agricole SA⁽¹⁾

JPMorgan Chase & Co.⁽¹⁾

Lloyds Banking Group PLC⁽¹⁾

Natixis SA⁽¹⁾

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

Regions Financial Corp.⁽¹⁾

Beverages — 3.5%

Anheuser-Busch InBev NV⁽¹⁾

Constellation Brands, Inc., Class A⁽¹⁾

Diageo PLC

Biotechnology — 2.3%

Biogen, Inc.⁽²⁾

Celgene Corp.⁽²⁾

Gilead Sciences, Inc.⁽¹⁾

Capital Markets — 2.4%

Azimut Holding SpA

Charles Schwab Corp. (The)

Macquarie Group, Ltd.⁽¹⁾

Chemicals — 3.3%

E.I. du Pont de Nemours & Co.

LyondellBasell Industries NV, Class A⁽¹⁾

Monsanto Co.

PPG Industries, Inc.⁽¹⁾

Commercial Services & Supplies — 0.9%

Brambles, Ltd.

Communications Equipment — 1.3%

QUALCOMM, Inc.⁽¹⁾

Consumer Finance — 1.3%

Discover Financial Services⁽¹⁾

Diversified Telecommunication Services — 2.8%

Deutsche Telekom AG

Nippon Telegraph & Telephone Corp.⁽¹⁾

Verizon Communications, Inc.

Electric Utilities — 0.9%

NextEra Energy, Inc.⁽¹⁾

Electrical Equipment — 1.7%

Mitsubishi Electric Corp.

Nidec Corp.

Electronic Equipment, Instruments & Components — 1.3%

Corning, Inc.⁽¹⁾

Yaskawa Electric Corp.

Food & Staples Retailing — 2.6%

Costco Wholesale Corp.⁽¹⁾

CVS Health Corp.⁽¹⁾

Food Products — 3.6%

Kerry Group PLC, Class A

Mondelez International, Inc., Class A⁽¹⁾

Unilever NV⁽¹⁾

Health Care Equipment & Supplies — 1.6%

Medtronic PLC⁽¹⁾

Hotels, Restaurants & Leisure — 1.4%

Accor SA⁽¹⁾

Compass Group PLC

Household Products — 0.8%

Reckitt Benckiser Group PLC

Industrial Conglomerates — 1.2%

Danaher Corp.

Koninklijke Philips NV

Insurance — 5.4%

Aflac, Inc.⁽¹⁾

AXA SA⁽¹⁾

Mediolanum SpA

Prudential PLC⁽¹⁾

St. James’s Place PLC

Internet & Catalog Retail — 1.2%

Amazon.com, Inc.⁽²⁾

Internet Software & Services — 3.6%

Facebook, Inc., Class A⁽²⁾

Google, Inc., Class C⁽¹⁾⁽²⁾

IT Services — 0.9%

Visa, Inc., Class A

Machinery — 1.1%

SKF AB, Class B⁽¹⁾

Media — 2.7%

Comcast Corp., Class A⁽¹⁾

Live Nation Entertainment, Inc.⁽²⁾

Walt Disney Co. (The)⁽¹⁾

Multi-Utilities — 2.0%

National Grid PLC⁽¹⁾

Sempra Energy⁽¹⁾

Oil, Gas & Consumable Fuels — 6.8%

Devon Energy Corp.⁽¹⁾

Exxon Mobil Corp.⁽¹⁾

Occidental Petroleum Corp.⁽¹⁾

Phillips 66⁽¹⁾

Range Resources Corp.

Total SA⁽¹⁾

Pharmaceuticals — 9.1%

Bayer AG

Merck & Co., Inc.⁽¹⁾

Novartis AG⁽¹⁾

Perrigo Co. PLC

Roche Holding AG PC⁽¹⁾

Sanofi⁽¹⁾

Shire PLC ADR⁽¹⁾

Takeda Pharmaceutical Co., Ltd.

Teva Pharmaceutical Industries, Ltd. ADR

Real Estate Investment Trusts (REITs) — 2.4%

Public Storage

Simon Property Group, Inc.⁽¹⁾

Semiconductors & Semiconductor Equipment — 1.3%

NXP Semiconductors NV⁽¹⁾⁽²⁾

Software — 2.4%

Microsoft Corp.⁽¹⁾

Oracle Corp.⁽¹⁾

SAP SE

Specialty Retail — 3.2%

Dixons Carphone PLC

Home Depot, Inc. (The)⁽¹⁾

Industria de Diseno Textil SA

Technology Hardware, Storage & Peripherals — 2.5%

Apple, Inc.⁽¹⁾

Textiles, Apparel & Luxury Goods — 4.1%

LVMH Moet Hennessy Louis Vuitton SE

NIKE, Inc., Class B⁽¹⁾

Pandora A/S⁽¹⁾

Tobacco — 2.4%

Altria Group, Inc.⁽¹⁾

Imperial Tobacco Group PLC⁽¹⁾

Wireless Telecommunication Services — 1.4%

Vodafone Group PLC⁽¹⁾

Total Common Stocks
(identified cost $288,741,195)

Preferred Stocks — 19.0%

Banks — 9.6%

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⁾

JPMorgan Chase & Co., Series O, 5.50%

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 — 1.8%

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 — 1.4%

Capital One Financial Corp., Series B, 6.00%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 1.0%

KKR Financial Holdings, LLC, Series A, 7.375%

RBS Capital Funding Trust VII, Series G, 6.08%

Electric Utilities — 1.7%

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%

Southern California Edison Co., Series E, 6.25% to 2/1/22⁽³⁾

Food Products — 1.3%

Dairy Farmers of America, 7.875%⁽⁴⁾

Land O’Lakes, Inc., 8.00%⁽⁴⁾

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

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⁽³⁾

Real Estate Investment Trusts (REITs) — 0.7%

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

DDR Corp., Series J, 6.50%

Thrifts & Mortgage Finance — 0.7%

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

EverBank Financial Corp., Series A, 6.75%

Total Preferred Stocks
(identified cost $64,489,592)

Corporate Bonds & Notes — 9.8%

Banks — 4.1%

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⁾

Lloyds Banking Group PLC, 7.50% to 6/27/24, 4/30/49⁽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⁾

Diversified Financial Services — 0.5%

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 — 0.4%

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

Electric Utilities — 1.8%

AES Panama SA, 6.00%, 6/25/22⁽⁴⁾

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 — 1.6%

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

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

MetLife, Inc., 10.75% to 8/1/39, 8/1/69⁽³⁾

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⁾

Metals & Mining — 0.1%

Freeport-McMoRan, Inc., 3.55%, 3/1/22

Oil, Gas & Consumable Fuels — 0.3%

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

Telecommunications — 0.7%

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

Total Corporate Bonds & Notes
(identified cost $35,423,320)

Exchange-Traded Funds — 2.3%

Equity Funds — 2.3%

iShares MSCI Japan ETF

iShares U.S. Preferred Stock ETF

Total Exchange-Traded Funds
(identified cost $8,380,110)

Short-Term Investments — 1.9%

Eaton Vance Cash Reserves Fund, LLC, 0.20%⁽⁷⁾

Total Short-Term Investments
(identified cost $7,013,963)

Total Investments — 132.2%
(identified cost $404,048,180)

Other Assets, Less Liabilities — (32.2)%

Net Assets — 100.0%

ADR

PC