Alphabet, Inc., Class C

BASF SE

Allianz SE

Societe Generale SA

BNP Paribas SA

K&S AG

AXA SA

Hennes & Mauritz AB, Class B

Visa, Inc., Class A

Sanofi

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. BofA Merrill Lynch Fixed Rate Preferred Securities Index is an unmanaged index of fixed-rate, preferred securities issued in the U.S. BofA Merrill Lynch^® indices not for redistribution or other uses; provided “as is”, without warranties, and with no liability. Eaton Vance has prepared this report, BofAML does not endorse it, or guarantee, review, or endorse Eaton Vance’s products. 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.

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

Aerospace & Defense — 1.4%

United Technologies Corp.⁽¹⁾

Air Freight & Logistics — 0.6%

C.H. Robinson Worldwide, Inc.⁽¹⁾

Automobiles — 3.2%

Bayerische Motoren Werke AG⁽¹⁾

Renault SA⁽¹⁾

Banks — 12.3%

Bank Pekao SA

BNP Paribas SA⁽¹⁾

Credit Agricole SA⁽¹⁾

DNB ASA

JPMorgan Chase & Co.⁽¹⁾

Mitsubishi UFJ Financial Group, Inc.⁽¹⁾

Societe Generale SA⁽¹⁾

Svenska Handelsbanken AB, Class A⁽¹⁾

U.S. Bancorp⁽¹⁾

Wells Fargo & Co.⁽¹⁾

Beverages — 1.5%

Anheuser-Busch Inbev NV/SA⁽¹⁾

Constellation Brands, Inc., Class A⁽¹⁾

Diageo PLC

Biotechnology — 1.7%

Celgene Corp.⁽¹⁾⁽²⁾

Gilead Sciences, Inc.⁽¹⁾

Capital Markets — 0.4%

Credit Suisse Group AG

Credit Suisse Group AG⁽³⁾

Chemicals — 4.0%

BASF SE⁽¹⁾

K&S AG⁽¹⁾

Yara International ASA

Commercial Services & Supplies — 0.3%

Brambles, Ltd.

Construction & Engineering — 1.1%

Boskalis Westminster⁽¹⁾

Consumer Finance — 2.1%

Discover Financial Services⁽¹⁾

Synchrony Financial⁽¹⁾⁽²⁾

Diversified Financial Services — 0.1%

Banca Mediolanum SpA

Diversified Telecommunication Services — 6.3%

Bezeq Israeli Telecommunication Corp., Ltd.⁽¹⁾

Deutsche Telekom AG

Nippon Telegraph & Telephone Corp.

Proximus SADP

Telefonica Deutschland Holding AG

Telenor ASA

Electric Utilities — 2.0%

Electricite de France SA

NextEra Energy, Inc.⁽¹⁾

Electrical Equipment — 2.0%

Legrand SA

Nidec Corp.⁽¹⁾

Schneider Electric SE⁽¹⁾

Electronic Equipment, Instruments & Components — 0.7%

Keyence Corp.

Energy Equipment & Services — 1.6%

Schlumberger, Ltd.⁽¹⁾

Technip SA

Food & Staples Retailing — 2.7%

Carrefour SA⁽¹⁾

Casino Guichard-Perrachon SA⁽¹⁾

Food Products — 1.0%

Kerry Group PLC, Class A

Mondelez International, Inc., Class A⁽¹⁾

Health Care Equipment & Supplies — 0.8%

Medtronic PLC⁽¹⁾

Hotels, Restaurants & Leisure — 2.1%

Accor SA

InterContinental Hotels Group PLC⁽¹⁾

Household Durables — 0.9%

Newell Brands, Inc.⁽¹⁾

Household Products — 0.3%

Reckitt Benckiser Group PLC

Industrial Conglomerates — 1.1%

General Electric Co.⁽¹⁾

Insurance — 10.9%

Allianz SE⁽¹⁾

Aviva PLC⁽¹⁾

AXA SA⁽¹⁾

Insurance (continued)

Chubb, Ltd.⁽¹⁾

Gjensidige Forsikring ASA

Old Mutual PLC

Prudential PLC

SCOR SE

St. James’s Place PLC

Swiss Re AG⁽¹⁾

Internet Software & Services — 3.6%

Alibaba Group Holding, Ltd. ADR⁽¹⁾⁽²⁾

Alphabet, Inc., Class C⁽¹⁾⁽²⁾

Facebook, Inc., Class A⁽¹⁾⁽²⁾

IT Services — 1.9%

Visa, Inc., Class A⁽¹⁾⁽⁴⁾

Worldpay Group PLC⁽²⁾⁽⁵⁾

Machinery — 0.5%

Alfa Laval AB⁽¹⁾

Kubota Corp.

Melrose Industries PLC

Media — 4.5%

Axel Springer SE⁽¹⁾

ITV PLC⁽¹⁾

Pearson PLC⁽¹⁾

Societe Television Francaise 1

Time Warner, Inc.⁽¹⁾

Multi – Utilities — 5.0%

A2A SpA

Engie SA⁽¹⁾

National Grid PLC

Sempra Energy⁽¹⁾⁽⁴⁾

Suez Environnement Co.⁽¹⁾

Veolia Environnement SA⁽¹⁾

Multiline Retail — 1.3%

Dollar General Corp.⁽¹⁾

Harvey Norman Holdings, Ltd.⁽¹⁾

Oil, Gas & Consumable Fuels — 2.7%

Anadarko Petroleum Corp.⁽¹⁾

Chevron Corp.⁽¹⁾

Occidental Petroleum Corp.⁽¹⁾

Royal Dutch Shell PLC, Class B

Paper & Forest Products — 1.0%

Stora Enso Oyj⁽¹⁾

Personal Products — 1.1%

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

Pharmaceuticals — 5.6%

Allergan PLC⁽¹⁾⁽²⁾

Bayer AG

Eli Lilly & Co.⁽¹⁾

Novo Nordisk A/S, Class B

Roche Holding AG PC

Sanofi⁽¹⁾

Shire PLC

Teva Pharmaceutical Industries, Ltd. ADR⁽¹⁾

Professional Services — 0.7%

Verisk Analytics, Inc.⁽¹⁾⁽²⁾

Real Estate Investment Trusts (REITs) — 0.9%

Equity Residential⁽¹⁾⁽⁴⁾

Road & Rail — 1.2%

Union Pacific Corp.⁽¹⁾

Semiconductors & Semiconductor Equipment — 0.6%

ASML Holding NV

Infineon Technologies AG

Specialty Retail — 3.6%

Dixons Carphone PLC

Hennes & Mauritz AB, Class B⁽¹⁾

Industria de Diseno Textil SA

Lowe’s Cos., Inc.⁽¹⁾

Technology Hardware, Storage & Peripherals — 0.5%

Apple, Inc.⁽¹⁾

Textiles, Apparel & Luxury Goods — 2.2%

Hugo Boss AG

LVMH Moet Hennessy Louis Vuitton SE

NIKE, Inc., Class B⁽¹⁾⁽⁴⁾

Pandora A/S

Tobacco — 2.3%

Imperial Brands PLC

Reynolds American, Inc.⁽¹⁾

Swedish Match AB⁽¹⁾

Wireless Telecommunication Services — 2.5%

Freenet AG⁽¹⁾

Tele2 AB, Class B

Vodafone Group PLC

Total Common Stocks
(identified cost $1,257,092,375)

Banks — 7.6%

AgriBank FCB, 6.875% to 1/1/24⁽⁶⁾

Barclays Bank PLC, 8.25% to 12/15/18⁽⁶⁾

CoBank ACB, Series F, 6.25% to 10/1/22⁽⁶⁾

Banks (continued)

Farm Credit Bank of Texas, 6.75% to 9/15/23⁽⁶⁾

Farm Credit Bank of Texas, Series 1, 10.00%

First Tennessee Bank, 3.75%⁽⁵⁾⁽⁷⁾

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

JPMorgan Chase & Co., Series O, 5.50%

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

JPMorgan Chase & Co., Series Y, 6.125%

KeyCorp, Series A, 7.75% (Convertible)

Lloyds Banking Group PLC,
6.657% to 5/21/37⁽⁵⁾⁽⁶⁾

Regions Financial Corp., Series A, 6.375%

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

Standard Chartered PLC, 7.014% to 7/30/37⁽⁵⁾⁽⁶⁾

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)

Zions Bancorporation, Series I, 5.80% to 9/15/23⁽⁶⁾

Zions Bancorporation, Series J,
7.20% to 9/15/23⁽⁶⁾

Capital Markets — 1.4%

Affiliated Managers Group, Inc., 6.375%

Goldman Sachs Group, Inc. (The), Series J, 5.50% to 5/10/23⁽⁶⁾

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

KKR & Co., LP, Series A, 6.75%

Morgan Stanley, Series G, 6.625%

State Street Corp., Series D, 5.90% to 3/15/24⁽⁶⁾

Consumer Finance — 0.9%

Capital One Financial Corp., Series B, 6.00%

Discover Financial Services, Series B, 6.50%

Diversified Financial Services — 0.5%

KKR Financial Holdings, LLC, Series A, 7.375%

Electric Utilities — 1.2%

AES Gener SA, 8.375% to 6/18/19⁽⁵⁾⁽⁶⁾

Entergy Arkansas, Inc., 6.45%

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

Electric Utilities (continued)

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

Southern Co. (The), 6.25%

Food Products — 1.3%

Dairy Farmers of America, 7.875%⁽⁵⁾

Land O’Lakes, Inc., 8.00%⁽⁵⁾

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

Insurance — 0.1%

Aspen Insurance Holdings, Ltd.,
5.95% to 7/1/23⁽⁶⁾

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

Endurance Specialty Holdings, Ltd., Series C, 6.35%

Machinery — 0.6%

Stanley Black & Decker, Inc., 5.75%

Multi – Utilities — 0.1%

DTE Energy Co., Series C, 5.25%

Pipelines — 0.3%

NuStar Logistics LP, 7.625% to 1/15/18⁽⁶⁾

Real Estate Investment Trusts (REITs) — 0.7%

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

DDR Corp., Series J, 6.50%

Vornado Realty Trust, Series K, 5.70%

Thrifts & Mortgage Finance — 0.7%

Elmira Savings Bank, 8.998% to 12/31/17⁽⁶⁾

EverBank Financial Corp., Series A, 6.75%

Total Preferred Stocks
(identified cost $184,243,505)