Alphabet, Inc., Class C

Amazon.com, Inc.

JPMorgan Chase & Co.

Melrose Industries PLC

First Trust Preferred Securities and Income ETF

ORIX Corp.

Unilever PLC

ASML Holding NV

NextEra Energy, Inc.

CDW Corp.

Total

MSCI World Index is an unmanaged index of equity securities in the developed markets. MSCI indexes are net of foreign withholding taxes. Source: MSCI. MSCI data may not be reproduced or used for any other purpose. MSCI provides no warranties, has not prepared or approved this report, and has no liability hereunder. ICE BofAML Fixed Rate Preferred Securities Index is an unmanaged index of fixed-rate, preferred securities issued in the U.S. ICE^® BofAML^® indices are not for redistribution or other uses; provided “as is”, without warranties, and with no liability. Eaton Vance has prepared this report and ICE Data Indices, LLC does not endorse it, or guarantee, review, or endorse Eaton Vance’s products. BofAML^® is a licensed registered trademark of Bank of America Corporation in the United States and other countries. The Blended Index consists of 80% MSCI World Index and 20% ICE BofAML Fixed Rate Preferred Securities Index. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

Performance results reflect the effects of leverage. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to http://eatonvance.com/closedend.

The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance.com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.

Total leverage is shown as a percentage of the Fund’s aggregate net assets plus borrowings outstanding. The Fund employs leverage through borrowings. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of borrowings rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time.

Excludes cash and cash equivalents.

The Fund may obtain exposure to certain market segments through investments in exchange-traded funds (ETFs). For purposes of the chart, the Fund’s investments in ETFs are included based on the portfolio composition of each ETF.

CAE, Inc.⁽¹⁾

C.H. Robinson Worldwide, Inc.⁽¹⁾

Continental AG⁽¹⁾

BNP Paribas SA⁽¹⁾

Canadian Imperial Bank of Commerce⁽¹⁾

ING Groep NV⁽¹⁾

Intesa Sanpaolo SpA⁽¹⁾

JPMorgan Chase & Co.⁽¹⁾

KeyCorp⁽¹⁾

Mitsubishi UFJ Financial Group, Inc.⁽¹⁾

Nordea Bank AB⁽¹⁾

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

Societe Generale SA⁽¹⁾

UniCredit SpA⁽¹⁾

Wells Fargo & Co.⁽¹⁾

Anheuser-Busch InBev SA/NV⁽¹⁾

Constellation Brands, Inc., Class A⁽¹⁾

Diageo PLC⁽¹⁾

Celgene Corp.⁽¹⁾⁽²⁾

Shire PLC ADR⁽¹⁾

Assa Abloy AB, Class B⁽¹⁾

Credit Suisse Group AG⁽¹⁾

Arkema SA⁽¹⁾

Ecolab, Inc.⁽¹⁾

Novozymes A/S, Class B⁽¹⁾

PPG Industries, Inc.⁽¹⁾

Republic Services, Inc.⁽¹⁾

SECOM Co., Ltd.⁽¹⁾

Discover Financial Services⁽¹⁾

Navient Corp.⁽¹⁾

OneMain Holdings, Inc.⁽¹⁾⁽²⁾

Sealed Air Corp.⁽¹⁾

ORIX Corp.⁽¹⁾

Nippon Telegraph & Telephone Corp.⁽¹⁾

Iberdrola SA⁽¹⁾

NextEra Energy, Inc.⁽¹⁾

Acuity Brands, Inc.⁽¹⁾

Legrand SA⁽¹⁾

Melrose Industries PLC⁽¹⁾

CDW Corp.⁽¹⁾

Keyence Corp.⁽¹⁾

Halliburton Co.⁽¹⁾

American Tower Corp.⁽¹⁾

Equity Residential⁽¹⁾

Simon Property Group, Inc.⁽¹⁾

Pinnacle Foods, Inc.⁽¹⁾

Baxter International, Inc.⁽¹⁾

Boston Scientific Corp.⁽¹⁾⁽²⁾

Danaher Corp.⁽¹⁾

Anthem, Inc.⁽¹⁾

UnitedHealth Group, Inc.⁽¹⁾

Carnival Corp.⁽¹⁾

Reckitt Benckiser Group PLC⁽¹⁾

AIA Group, Ltd.⁽¹⁾

Aviva PLC⁽¹⁾

Chubb, Ltd.⁽¹⁾

Prudential PLC⁽¹⁾

Amazon.com, Inc.⁽¹⁾⁽²⁾

Alphabet, Inc., Class C⁽¹⁾⁽²⁾

Facebook, Inc., Class A⁽¹⁾⁽²⁾

Visa, Inc., Class A⁽¹⁾

Lonza Group AG⁽¹⁾

Atlas Copco AB, Class A⁽¹⁾

Fortive Corp.⁽¹⁾

ITT, Inc.⁽¹⁾

Komatsu, Ltd.⁽¹⁾

MISUMI Group, Inc.⁽¹⁾

Xylem, Inc.⁽¹⁾

Interpublic Group of Cos., Inc. (The)⁽¹⁾

Rio Tinto, Ltd.⁽¹⁾

CMS Energy Corp.⁽¹⁾

Sempra Energy⁽¹⁾

BP PLC⁽¹⁾

ConocoPhillips⁽¹⁾

Exxon Mobil Corp.⁽¹⁾

Phillips 66⁽¹⁾

Royal Dutch Shell PLC, Class B⁽¹⁾

Seven Generations Energy, Ltd., Class A⁽¹⁾⁽²⁾

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

Unilever PLC⁽¹⁾

Bayer AG⁽¹⁾

Eli Lilly & Co.⁽¹⁾

Ipsen SA⁽¹⁾

Johnson & Johnson⁽¹⁾

Novo Nordisk A/S, Class B⁽¹⁾

Zoetis, Inc.⁽¹⁾

Verisk Analytics, Inc.⁽¹⁾⁽²⁾

CSX Corp.⁽¹⁾

ASML Holding NV⁽¹⁾

NXP Semiconductors NV⁽²⁾

Renesas Electronics Corp.⁽¹⁾⁽²⁾

Sumco Corp.⁽¹⁾

Taiwan Semiconductor Manufacturing Co., Ltd. ADR⁽¹⁾

Activision Blizzard, Inc.⁽¹⁾

Microsoft Corp.⁽¹⁾

Home Depot, Inc. (The)⁽¹⁾

Industria de Diseno Textil SA⁽¹⁾

TJX Cos., Inc. (The)⁽¹⁾

Ulta Beauty, Inc.⁽¹⁾⁽²⁾

Apple, Inc.⁽¹⁾

HP, Inc.⁽¹⁾

adidas AG⁽¹⁾

LVMH Moet Hennessy Louis Vuitton SE⁽¹⁾

MGIC Investment Corp.⁽¹⁾⁽²⁾

British American Tobacco PLC⁽¹⁾

Total Common Stocks
(identified cost $298,251,010)

AgriBank FCB, 6.875% to 1/1/24⁽¹⁾⁽³⁾

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

Farm Credit Bank of Texas,
6.75% to 9/15/23^(1)(3)(4)

Farm Credit Bank of Texas, Series 1, 10.00%⁽¹⁾

First Republic Bank, Series G, 5.50%⁽¹⁾

First Tennessee Bank NA, 3.75%, (3 mo. USD LIBOR + 0.85%, Floor 3.75%)^(1)(4)(5)

IBERIABANK Corp., Series C,
6.60% to 5/1/26⁽¹⁾⁽³⁾

Texas Capital Bancshares, Inc., 6.50%⁽¹⁾

Wells Fargo & Co., Series Y, 5.625%⁽¹⁾

KKR & Co., L.P., Series A, 6.75%⁽¹⁾

State Street Corp., Series D,
5.90% to 3/15/24⁽¹⁾⁽³⁾

State Street Corp., Series G,
5.35% to 3/15/26⁽¹⁾⁽³⁾

Capital One Financial Corp., Series C, 6.25%⁽¹⁾

Capital One Financial Corp., Series H, 6.00%⁽¹⁾

NextEra Energy Capital Holdings, Inc., Series I, 5.125%⁽¹⁾

NextEra Energy Capital Holdings, Inc., Series K, 5.25%⁽¹⁾

SCE Trust VI, 5.00%⁽¹⁾

Southern Co. (The), 6.25%⁽¹⁾

CBL & Associates Properties, Inc., Series D, 7.375%⁽¹⁾

DDR Corp., Series A, 6.375%⁽¹⁾

DDR Corp., Series K, 6.25%⁽¹⁾

Spirit Realty Capital, Inc., Series A, 6.00%⁽¹⁾

Summit Hotel Properties, Inc., Series E, 6.25%⁽¹⁾

Vornado Realty Trust, Series K, 5.70%⁽¹⁾

Dairy Farmers of America, Inc., 7.875%⁽¹⁾⁽⁴⁾

Ocean Spray Cranberries, Inc., 6.25%⁽¹⁾⁽⁴⁾

Arch Capital Group, Ltd., Series E, 5.25%⁽¹⁾

PartnerRe, Ltd., Series I, 5.875%⁽¹⁾

DTE Energy Co., Series C, 5.25%⁽¹⁾

NuStar Energy, L.P., Series B,
7.625% to 6/15/22⁽¹⁾⁽³⁾

Total Preferred Stocks
(identified cost $31,680,755)

Principal

Amount

(000’s omitted)

Azul Investments LLP, 5.875%, 10/26/24⁽¹⁾⁽⁴⁾

General Motors Financial Co., Inc., Series A, 5.75% to 9/30/27^(1)(3)(6)

Australia and New Zealand Banking Group, Ltd., 6.75% to 6/15/26^(1)(3)(4)(6)

Banco Bilbao Vizcaya Argentaria SA, 6.125% to 11/16/27^(1)(3)(6)

Banco do Brasil SA, 6.25% to 4/15/24^(1)(3)(4)(6)

Banco Mercantil del Norte SA/Grand Cayman, 7.625% to 1/6/28^(1)(3)(4)(6)

Bank of America Corp., Series AA, 6.10% to 3/17/25^(1)(3)(6)

Bank of America Corp., Series FF, 5.875% to 3/15/28^(1)(3)(6)

Citigroup, Inc., Series M, 6.30% to 5/15/24^(1)(3)(6)

Citigroup, Inc., Series T, 6.25% to 8/15/26^(1)(3)(6)

Credit Agricole SA, 7.875% to 1/23/24^(1)(3)(4)(6)

JPMorgan Chase & Co., Series X, 6.10% to 10/1/24^(1)(3)(6)

JPMorgan Chase & Co., Series Z, 5.30% to 5/1/20^(1)(3)(6)

Lloyds Banking Group PLC,
7.50% to 6/27/24^(1)(3)(6)

PNC Financial Services Group, Inc. (The), Series S, 5.00% to 11/1/26^(1)(3)(6)

Royal Bank of Scotland Group PLC, 8.00% to 8/10/25^(1)(3)(6)

Societe Generale SA, 6.75% to 4/6/28^(1)(3)(4)(6)

Standard Chartered PLC,
7.75% to 4/2/23^(1)(3)(4)(6)

SunTrust Banks, Inc., Series H, 5.125% to 12/15/27^(1)(3)(6)

UniCredit SpA, 8.00% to 6/3/24^(1)(3)(6)(7)

Zions Bancorporation, Series I,
5.80% to 6/15/23^(1)(3)(6)

Banco BTG Pactual SA/Cayman Islands, 5.75%, 9/28/22⁽¹⁾⁽⁴⁾

Banco BTG Pactual SA/Luxembourg, 5.50%, 1/31/23⁽¹⁾⁽⁴⁾

Charles Schwab Corp. (The), Series F, 5.00% to 12/1/27^(1)(3)(6)

Goldman Sachs Group, Inc. (The), Series M, 5.375% to 5/10/20^(1)(3)(6)

Principal

Amount

(000’s omitted)

UBS Group AG, 6.875% to 8/7/25^(1)(3)(6)(7)

Cadence Financial Corp., 4.875%, 6/28/19⁽¹⁾⁽⁴⁾

Textron Financial Corp., 3.574%, (3 mo. USD LIBOR + 1.735%), 2/15/67^(1)(4)(5)

Unifin Financiera SAB de CV,
8.875% to 1/29/25^(1)(3)(4)(6)

AES Gener SA,
8.375% to 6/18/19, 12/18/73^(1)(3)(4)

Enel SpA, 8.75% to 9/24/23, 9/24/73^(1)(3)(4)

Southern Co. (The), Series B, 5.50% to 3/15/22, 3/15/57⁽¹⁾⁽³⁾

Abengoa Finance S.A.U., 7.75%, 3/31/27^(1)(4)(8)

Oceaneering International, Inc., 6.00%, 2/1/28⁽¹⁾

JBS Investments GmbH, 7.75%, 10/28/20⁽¹⁾⁽⁴⁾

Land O’ Lakes, Inc., 8.00%^(1)(4)(6)

BHP Billiton Finance USA, Ltd., 6.75% to 10/19/25, 10/19/75^(1)(3)(4)

Dominion Resources, Inc., 5.75% to 10/1/24, 10/1/54⁽¹⁾⁽³⁾

EnLink Midstream Partners, L.P., Series C, 6.00% to 12/15/22 ^(1)(3)(6)

Odebrecht Oil & Gas Finance, Ltd., 0.00% ^(1)(4)(6)

Plains All American Pipeline, L.P., Series B, 6.125% to 11/15/22 ^(1)(3)(6)

Principal

Amount

(000’s omitted)

Teva Pharmaceutical Finance Netherlands III B.V.,
6.00%, 4/15/24⁽¹⁾⁽⁴⁾

Enbridge Energy Partners, L.P., 6.106%, (3 mo. USD LIBOR + 3.798%), 10/1/77⁽¹⁾⁽⁵⁾

Energy Transfer Partners, L.P., Series A, 6.25% to 2/15/23^(1)(3)(6)

Enterprise Products Operating, LLC, 5.375% to 2/15/28, 2/15/78⁽¹⁾⁽³⁾

Transportadora de Gas del Sur SA, 6.75%, 5/2/25⁽⁴⁾⁽⁹⁾

Flagstar Bancorp, Inc.,
6.125%, 7/15/21⁽¹⁾

Mattel, Inc., 6.75%, 12/31/25⁽⁴⁾

JSL Europe SA, 7.75%, 7/26/24⁽¹⁾⁽⁴⁾

Total Corporate Bonds & Notes
(identified cost $62,717,748)

First Trust Preferred Securities and Income ETF⁽¹⁾

Total Exchange-Traded Funds
(identified cost $8,830,630)

Total Investments — 133.5%
(identified cost $401,480,143)

Other Assets, Less Liabilities — (33.5)%

Net Assets — 100.0%