Aerospace & Defense — 2.1%

United Technologies Corp.⁽¹⁾

Automobiles — 0.5%

Honda Motor Co., Ltd.

Beverages — 1.3%

Anheuser-Busch InBev NV⁽¹⁾

Capital Markets — 1.4%

Credit Suisse Group AG⁽¹⁾⁽²⁾

Chemicals — 4.1%

BASF SE⁽¹⁾

E.I. du Pont de Nemours & Co.⁽¹⁾

LyondellBasell Industries NV, Class A⁽¹⁾

PPG Industries, Inc.⁽¹⁾

Commercial Banks — 6.4%

Barclays PLC⁽¹⁾

BNP Paribas⁽¹⁾

PNC Financial Services Group, Inc.⁽¹⁾

Swedbank AB, Class A⁽¹⁾

Toronto-Dominion Bank (The)⁽¹⁾

Wells Fargo & Co.⁽¹⁾

Computers & Peripherals — 1.6%

Apple, Inc.⁽¹⁾

Construction & Engineering — 0.9%

Vinci SA⁽¹⁾

Consumer Finance — 1.9%

American Express Co.⁽¹⁾

Discover Financial Services⁽¹⁾

Containers & Packaging — 0.1%

Amcor, Ltd.⁽¹⁾

Diversified Financial Services — 2.6%

Citigroup, Inc.⁽¹⁾

JPMorgan Chase & Co.⁽¹⁾

Diversified Telecommunication Services — 3.8%

TeliaSonera AB

Telstra Corp., Ltd.⁽¹⁾

Electric Utilities — 1.5%

Edison International⁽¹⁾

SSE PLC⁽¹⁾

Electrical Equipment — 0.5%

Emerson Electric Co.⁽¹⁾

Energy Equipment & Services — 3.0%

Schlumberger, Ltd.⁽¹⁾

Seadrill, Ltd.⁽¹⁾

Food & Staples Retailing — 0.4%

Costco Wholesale Corp.⁽¹⁾

Food Products — 3.3%

Kraft Foods Group, Inc.⁽¹⁾

Mondelez International, Inc., Class A⁽¹⁾

Nestle SA ADR⁽¹⁾

Health Care Equipment & Supplies — 1.1%

Abbott Laboratories⁽¹⁾

Covidien PLC⁽¹⁾

Health Care Providers & Services — 0.6%

Humana, Inc.⁽¹⁾

Hotels, Restaurants & Leisure — 3.1%

Las Vegas Sands Corp.⁽¹⁾

McDonald’s Corp.⁽¹⁾

Household Products — 0.8%

Svenska Cellulosa AB, Class B⁽¹⁾

Industrial Conglomerates — 4.3%

General Electric Co.⁽¹⁾

Orkla ASA⁽¹⁾

Siemens AG⁽¹⁾

Insurance — 3.5%

Aflac, Inc.⁽¹⁾

AXA SA⁽¹⁾

Old Mutual PLC⁽¹⁾

IT Services — 4.8%

Accenture PLC, Class A⁽¹⁾

International Business Machines Corp.⁽¹⁾

Machinery — 1.9%

Deere & Co.⁽¹⁾

Media — 1.3%

Walt Disney Co. (The)⁽¹⁾

Metals & Mining — 4.0%

BHP Billiton PLC⁽¹⁾

Freeport-McMoRan Copper & Gold, Inc.⁽¹⁾

Rio Tinto PLC⁽¹⁾

Multi-Utilities — 3.0%

National Grid PLC⁽¹⁾

Sempra Energy⁽¹⁾

Oil, Gas & Consumable Fuels — 8.1%

Chevron Corp.⁽¹⁾

ENI SpA⁽¹⁾

Exxon Mobil Corp.⁽¹⁾

HollyFrontier Corp.⁽¹⁾

Occidental Petroleum Corp.⁽¹⁾

Phillips 66⁽¹⁾

Total SA⁽¹⁾

Pharmaceuticals — 10.1%

AstraZeneca PLC⁽¹⁾

Novartis AG⁽¹⁾

Pfizer, Inc.⁽¹⁾

Roche Holding AG PC⁽¹⁾

Sanofi⁽¹⁾

Takeda Pharmaceutical Co., Ltd.

Real Estate Investment Trusts (REITs) — 1.6%

AvalonBay Communities, Inc.⁽¹⁾

Road & Rail — 2.0%

Canadian National Railway Co.⁽¹⁾

Union Pacific Corp.⁽¹⁾

Semiconductors & Semiconductor Equipment — 0.6%

Analog Devices, Inc.⁽¹⁾

Software — 3.4%

Microsoft Corp.⁽¹⁾

Oracle Corp.⁽¹⁾

Specialty Retail — 3.5%

Home Depot, Inc. (The)⁽¹⁾

Industria de Diseno Textil SA⁽¹⁾

Kingfisher PLC⁽¹⁾

Lowe’s Companies, Inc.⁽¹⁾

Textiles, Apparel & Luxury Goods — 0.7%

Adidas AG⁽¹⁾

Tobacco — 4.5%

British American Tobacco PLC⁽¹⁾

Imperial Tobacco Group PLC⁽¹⁾

Japan Tobacco, Inc.⁽¹⁾

Trading Companies & Distributors — 0.7%

Mitsui & Co., Ltd.

Wireless Telecommunication Services — 0.6%

Vodafone Group PLC ADR⁽¹⁾

Total Common Stocks
(identified cost $288,517,374)

Preferred Stocks — 26.0%

Capital Markets — 1.5%

Affiliated Managers Group, Inc., 6.375%

Bank of New York Mellon Corp. (The), 5.20%

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

State Street Corp., Series C, 5.25%

Commercial Banks — 10.1%

Barclays Bank PLC, 7.625%

Barclays Bank PLC, Series 3, 7.10%

CoBank ACB, Series F, 6.25% to 10/1/22⁽³⁾⁽⁴⁾

Countrywide Capital V, 7.00%

Deutsche Bank Contingent Capital Trust III, 7.60%

Farm Credit Bank of Texas, Series 1, 10.00%

First Niagara Financial Group, Inc., Series B, 8.625% to 2/15/17⁽⁴⁾

First Republic Bank, Series B, 6.20%

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

JPMorgan Chase & Co., Series 0, 5.50%

JPMorgan Chase & Co., Series 1, 7.90% to 4/30/18⁽⁴⁾

KeyCorp, Series A, 7.75%

Landsbanki Islands HF, 7.431%^{(2)(3)(5)(6)(7)}

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

Regions Financial Corp., Series A, 6.375%

Standard Chartered PLC, 6.409% to 1/30/17⁽³⁾⁽⁴⁾

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

SunTrust Banks, Inc., Series E, 5.875%⁽²⁾

Texas Capital Bancshares, Inc., 6.50%

Webster Financial Corp., Series E, 6.40%⁽²⁾

Wells Fargo & Co., Series L, 7.50%

Zions Bancorporation, Series G, 6.30% to 3/15/23⁽²⁾⁽⁴⁾

Consumer Finance — 1.3%

Ally Financial, Inc., Series A, 8.50% to 5/15/16⁽⁴⁾

Capital One Financial Corp., Series B, 6.00%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 3.0%

General Electric Capital Corp., Series A, 7.125% to 6/15/22⁽⁴⁾

General Electric Capital Corp., Series B, 6.25% to 12/15/22⁽⁴⁾

KKR Financial Holdings, LLC, Series A, 7.375%⁽²⁾

RBS Capital Funding Trust VII, Series G, 6.08%⁽²⁾

UBS AG, 7.625%

Electric Utilities — 2.8%

Duke Energy Corp., 5.125%⁽²⁾

Entergy Arkansas, Inc., 4.90%⁽²⁾

Entergy Arkansas, Inc., 6.45%

Entergy Louisiana, LLC, 6.95%

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

NextEra Energy Capital Holdings, Inc., Series I, 5.125%⁽²⁾

Southern California Edison Co., Series C, 6.00%

Southern California Edison Co., Series D, 6.50%

Southern California Edison Co., Series E, 6.25% to 2/1/22⁽⁴⁾

Virginia Electric and Power Co., 6.12%

Food Products — 0.8%

Dairy Farmers of America, 7.875%⁽³⁾

Ocean Spray Cranberries, Inc., 6.25%⁽³⁾

Insurance — 2.4%

Aspen Insurance Holdings, Ltd., 7.25%

Aspen Insurance Holdings, Ltd., 7.401% to 1/1/17⁽⁴⁾

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

Montpelier Re Holdings, Ltd., 8.875%

Prudential PLC, 6.50%

Machinery — 0.7%

Stanley Black & Decker, Inc., 5.75%

Multi-Utilities — 0.4%

DTE Energy Co., Series C, 5.25%

Oil, Gas & Consumable Fuels — 0.3%

Nexen, Inc., 7.35%

Pipelines — 0.5%

NuStar Logistics LP, 7.625% to 1/15/18⁽²⁾⁽⁴⁾

Real Estate Investment Trusts (REITs) — 1.4%

CapLease, Inc., Series A, 8.125%

Cedar Shopping Centers, Inc., Series A, 8.875%

Chesapeake Lodging Trust, Series A, 7.75%

DDR Corp., Series H, 7.375%

DDR Corp., Series J, 6.50%

Sunstone Hotel Investors, Inc., Series D, 8.00%

Telecommunications — 0.2%

Centaur Funding Corp., 9.08%⁽³⁾

Thrifts & Mortgage Finance — 0.6%

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

EverBank Financial Corp., Series A, 6.75%

Total Preferred Stocks
(identified cost $84,348,264)

Corporate Bonds & Notes — 7.3%

Commercial Banks — 1.2%

Banco do Brasil SA, 6.25% to 4/15/24, 12/29/49⁽³⁾⁽⁴⁾

Banco Industriale Comercial SA, 8.50%, 4/27/20⁽³⁾

Citigroup Capital III, 7.625%, 12/1/36

Groupe BPCE, 12.50% to 9/30/19, 8/29/49⁽³⁾⁽⁴⁾

Regions Bank, 6.45%, 6/26/37

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

Diversified Financial Services — 0.8%

HSBC Finance Capital Trust IX, 5.911% to 11/30/15, 11/30/35⁽⁴⁾

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

Electric Utilities — 1.5%

Electricite de France SA, 5.25% to 1/29/23, 1/29/49⁽³⁾⁽⁴⁾

PPL Capital Funding, Inc., Series A, 6.70% to 3/30/17, 3/30/67⁽⁴⁾

Food Products — 0.1%

Land O’Lakes, Inc., 6.00%, 11/15/22⁽³⁾

Insurance — 3.1%

American International Group, Inc., Series A, 8.175% to 5/15/38, 5/15/58, 5/15/68⁽⁴⁾⁽⁸⁾

MetLife, Inc., 10.75% to 8/1/34, 8/1/39, 8/1/69⁽⁴⁾⁽⁸⁾

QBE Capital Funding II, LP, 6.797% to 6/1/17, 6/29/49⁽³⁾⁽⁴⁾

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

Swiss Re Capital I, LP, 6.854% to 5/25/16, 5/25/49⁽³⁾⁽⁴⁾

XL Capital, Ltd., Series E, 6.50% to 4/15/17, 12/29/49⁽⁴⁾

Pipelines — 0.6%

Enterprise Products Operating, LLC, 7.00% to 6/1/17, 6/1/67⁽⁴⁾

Southern Union Co., 3.33%, 11/1/66⁽⁵⁾

Total Corporate Bonds & Notes
(identified cost $22,021,999)

Short-Term Investments — 0.6%

Eaton Vance Cash Reserves Fund, LLC, 0.12%⁽⁹⁾

Total Short-Term Investments
(identified cost $2,083,203)

Total Investments — 133.5%
(identified cost $396,970,840)

Other Assets, Less Liabilities — (33.5)%

Net Assets — 100.0%

ADR

PC