Aerospace & Defense — 2.6%

General Dynamics Corp.⁽¹⁾

Honeywell International, Inc.⁽¹⁾

United Technologies Corp.⁽¹⁾

Airlines — 0.1%

Allegiant Travel Co.⁽¹⁾

Automobiles — 0.9%

Ford Motor Co.⁽¹⁾

Capital Markets — 1.0%

Goldman Sachs Group, Inc. (The)⁽¹⁾

Waddell & Reed Financial, Inc., Class A⁽¹⁾

Chemicals — 1.6%

LyondellBasell Industries NV, Class A⁽¹⁾

PPG Industries, Inc.⁽¹⁾

Commercial Banks — 8.4%

Fifth Third Bancorp⁽¹⁾

KeyCorp⁽¹⁾

PNC Financial Services Group, Inc.⁽¹⁾

Regions Financial Corp.⁽¹⁾

U.S. Bancorp⁽¹⁾

Wells Fargo & Co.⁽¹⁾

Computers & Peripherals — 1.3%

Apple, Inc.⁽¹⁾

Consumer Finance — 1.8%

Discover Financial Services⁽¹⁾

Diversified Financial Services — 3.9%

Citigroup, Inc.⁽¹⁾

JPMorgan Chase & Co.⁽¹⁾

Diversified Telecommunication Services — 2.4%

AT&T, Inc.⁽¹⁾

CenturyLink, Inc.⁽¹⁾

Vivendi SA

Electric Utilities — 4.3%

Edison International⁽¹⁾

NextEra Energy, Inc.⁽¹⁾

Electrical Equipment — 0.4%

Emerson Electric Co.⁽¹⁾

Food & Staples Retailing — 1.5%

Costco Wholesale Corp.

Food Products — 3.5%

Kraft Foods Group, Inc.⁽¹⁾⁽²⁾

Mondelez International, Inc., Class A⁽¹⁾

Nestle SA⁽¹⁾

Health Care Equipment & Supplies — 0.8%

Covidien PLC⁽¹⁾

Health Care Providers & Services — 1.5%

HCA Holdings, Inc.⁽¹⁾

Hotels, Restaurants & Leisure — 4.5%

Las Vegas Sands Corp.

McDonald’s Corp.⁽¹⁾

Wynn Resorts, Ltd.⁽¹⁾

Industrial Conglomerates — 0.9%

General Electric Co.⁽¹⁾

Insurance — 1.8%

ACE, Ltd.⁽¹⁾

RLI Corp.⁽¹⁾

IT Services — 1.7%

International Business Machines Corp.⁽¹⁾

Machinery — 1.7%

Deere & Co.⁽¹⁾

Stanley Black & Decker, Inc.⁽¹⁾

Metals & Mining — 1.8%

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

Multi-Utilities — 1.5%

Sempra Energy⁽¹⁾

Oil, Gas & Consumable Fuels — 13.5%

Chevron Corp.⁽¹⁾

ENI SpA⁽¹⁾

Exxon Mobil Corp.⁽¹⁾

HollyFrontier Corp.⁽¹⁾

Marathon Oil Corp.⁽¹⁾

Occidental Petroleum Corp.⁽¹⁾

Royal Dutch Shell PLC, Class A⁽¹⁾

Pharmaceuticals — 9.0%

Abbott Laboratories⁽¹⁾

Johnson & Johnson⁽¹⁾

Merck & Co., Inc.⁽¹⁾

Pfizer, Inc.⁽¹⁾

Sanofi⁽¹⁾

Real Estate Investment Trusts (REITs) — 2.6%

AvalonBay Communities, Inc.⁽¹⁾

Public Storage, Inc.⁽¹⁾

Road & Rail — 2.0%

Union Pacific Corp.⁽¹⁾

Werner Enterprises, Inc.⁽¹⁾

Software — 3.0%

Microsoft Corp.⁽¹⁾

Oracle Corp.⁽¹⁾

Specialty Retail — 1.0%

Buckle, Inc. (The)⁽¹⁾

Limited Brands, Inc.⁽¹⁾

Textiles, Apparel & Luxury Goods — 1.9%

VF Corp.⁽¹⁾

Tobacco — 1.9%

Philip Morris International, Inc.⁽¹⁾

Wireless Telecommunication Services — 0.6%

Rogers Communications, Inc., Class B⁽¹⁾

Total Common Stocks
(identified cost $920,787,068)

Preferred Stocks — 36.3%

Capital Markets — 1.9%

Affiliated Managers Group, Inc., 6.375%

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

Charles Schwab Corp. (The), 7.00%⁽³⁾

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

Commercial Banks — 15.0%

Bank of America Corp., 8.125%⁽³⁾

Barclays Bank PLC, 7.625%

Barclays Bank PLC, Series 3, 7.10%

CoBank ACB, Series F, 6.25%⁽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 Republic Bank, Series A, 6.70%

First Republic Bank, Series B, 6.20%

JPMorgan Chase & Co., Series 0, 5.50%

JPMorgan Chase & Co., Series 1, 7.90%⁽³⁾

KeyCorp, Series A, 7.75%

Landsbanki Islands HF, 7.431%^{(2)(3)(4)(5)(6)}

Lloyds Banking Group PLC, 6.657%⁽³⁾⁽⁴⁾

PNC Financial Services Group, Inc., Series O, 6.75%⁽³⁾

Regions Financial Corp., Series A, 6.375%

Royal Bank of Scotland Group PLC, Series Q, 6.75%

Royal Bank of Scotland Group PLC, Series T, 7.25%

Standard Chartered PLC, 6.409%⁽³⁾⁽⁴⁾

Standard Chartered PLC, 7.014%⁽³⁾⁽⁴⁾

State Street Corp., Series C, 5.25%

Texas Capital Bancshares, Inc., 6.50%

U.S. Bancorp, Series F, 6.50%⁽³⁾

Webster Financial Corp., Series E, 6.40%

Wells Fargo & Co., Series L, 7.50%

Wells Fargo & Co., Series N, 5.20%

Consumer Finance — 1.9%

Ally Financial, Inc., Series A, 8.50%⁽³⁾

Capital One Financial Corp., Series B, 6.00%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 3.9%

General Electric Capital Corp., Series A, 7.125% to 6/15/22⁽⁷⁾

General Electric Capital Corp., Series B, 6.25% to 12/15/22⁽⁷⁾

HSBC Capital Funding LP, 10.176%⁽³⁾⁽⁴⁾

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

UBS AG, 7.625%

Electric Utilities — 4.1%

DTE Energy Co., Series C, 5.25%

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%

Southern California Edison Co., Series C, 6.00%

Southern California Edison Co., Series D, 6.50%

Southern California Edison Co., Series E, 6.25%⁽³⁾

Virginia Electric and Power Co., 6.12%

Food Products — 1.1%

Dairy Farmers of America, 7.875%⁽⁴⁾

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

Insurance — 4.6%

American Overseas Group, Ltd., Series A, 7.50%⁽³⁾

Arch Capital Group, Ltd., Series C, 6.75%

Aspen Insurance Holdings, Ltd., 7.401%⁽³⁾

Axis Capital Holdings, Ltd., Series C, 6.875%

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

Montpelier Re Holdings, Ltd., 8.875%

Prudential PLC, 6.50%

RenaissanceRe Holdings, Ltd., Series D, 6.60%

Machinery — 1.0%

Stanley Black & Decker, Inc., 5.75%

Real Estate Investment Trusts (REITs) — 2.1%

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 — 0.4%

Centaur Funding Corp., 9.08%⁽⁴⁾

Thrifts and Mortgage Finance — 0.3%

Elmira Savings Bank FSB (The), 8.998%⁽³⁾

Total Preferred Stocks
(identified cost $481,285,154)

Corporate Bonds & Notes — 10.2%

Commercial Banks — 2.2%

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

CBA Capital Trust II, 6.024% to 3/15/16, 3/29/49⁽⁴⁾⁽⁷⁾

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

Groupe BPCE, 12.50% to 9/30/19, 8/29/49⁽⁴⁾⁽⁷⁾

Regions Bank, 6.45%, 6/26/37

SunTrust Preferred Capital I, 4.00%, 6/29/49⁽³⁾

Diversified Financial Services — 1.1%

HSBC Finance Capital Trust IX, 5.911% to 11/30/15,  11/30/35⁽⁷⁾

Textron Financial Corp., 6.00% to 2/15/17, 2/15/67⁽⁴⁾⁽⁷⁾

Electric Utilities — 1.1%

PPL Capital Funding, Inc., Series A, 6.70% to 3/30/17, 3/30/67⁽⁷⁾

Food Products — 0.3%

Land O’Lakes, Inc., 6.00%, 11/15/22⁽⁴⁾

Industrial Conglomerates — 0.5%

Hutchison Whampoa International 12, Ltd., 6.00% to 5/7/17, 5/29/49⁽⁴⁾⁽⁷⁾

Insurance — 4.2%

Allstate Corp. (The), 6.125% to 5/15/17, 5/15/37, 5/15/67⁽⁷⁾⁽⁸⁾

American International Group, Inc., 8.175% to 5/15/38, 5/15/58, 5/15/68⁽⁷⁾⁽⁸⁾

MetLife, Inc., 10.75% to 8/1/34, 8/1/39, 8/1/69⁽⁷⁾⁽⁸⁾

QBE Capital Funding II, LP, 6.797% to 6/1/17, 6/29/49⁽⁴⁾⁽⁷⁾

QBE Capital Funding III, Ltd., 7.25% to 5/24/21, 5/24/41⁽⁴⁾⁽⁷⁾

Swiss Re Capital I, LP, 6.854% to 5/25/16, 5/29/49⁽⁴⁾⁽⁷⁾

XL Capital, Ltd., Series E, 6.50% to 4/15/17, 12/29/49⁽⁷⁾

Pipelines — 0.8%

Enterprise Products Operating, LLC, 7.00% to 6/1/17, 6/1/67⁽⁷⁾

Southern Union Co., 3.33%, 11/1/66⁽³⁾

Total Corporate Bonds & Notes
(identified cost $121,247,695)

Short-Term Investments — 0.6%

Eaton Vance Cash Reserves Fund, LLC, 0.13%⁽⁹⁾

Total Short-Term Investments
(identified cost $7,631,102)

Total Investments — 132.5%
(identified cost $1,530,951,019)

Other Assets, Less Liabilities — (32.5)%

Net Assets — 100.0%

United States

Switzerland

Bermuda

Italy

United Kingdom

Cayman Islands

France

Netherlands

Ireland

Canada

Australia

Brazil

Iceland

Total Investments

Deliver

In Exchange For

Counterparty

British Pound Sterling

1,896,214

United States Dollar

3,031,373

British Pound Sterling

1,896,214

United States Dollar

3,033,074

British Pound Sterling

1,896,214

United States Dollar

3,031,312

Euro

18,092,063

United States Dollar

23,405,702

Euro

18,092,063

United States Dollar

23,403,079

Euro

18,092,063

United States Dollar

23,404,255

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