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Eaton Vance Enhanced Equity Income Fund

Eaton Vance Enhanced Equity Income Fund is a non-diversified, closed-end management investment company. The Fund's primary investment objective is to provide a high level of current income and, secondarily, capital appreciation by investing primarily in a diversified portfolio of equity securities of companies, including those with market capitalization of $5 billion or more at the time of purchase.

The Fund's investment universe is primarily focused on companies that pay consistent and growing dividends. Many dividend-paying stocks have economic characteristics that align with the Fund's investment objectives of generating current income and long-term growth. The Fund focuses on companies with durable competitive advantages that increase the potential for dividend growth.

The Fund invests in companies with a market capitalization of $5 billion or more at the time of purchase. Stocks are selected for the portfolio based on fundamental analysis conducted by the portfolio manager and the investment team. Stocks are purchased at a reasonable price below their intrinsic value and held for the long term. The portfolio management team has the flexibility to invest in companies across all market capitalizations, sectors, and geographic regions. The Manager seeks to provide long-term capital appreciation and generate current income by focusing primarily on investments in equity securities of companies that pay consistent and growing dividends.

Fund Holdings

As of May 31, 2022, the Fund's portfolio consisted of 76 positions, with Microsoft Corporation, Alphabet, Inc., and Visa, Inc. being the top three holdings. The third sector exposure of the portfolio consisted of Technology, Finance & Financial Services, Healthcare, Consumer Goods & Services, Energy, Basic Materials, and Utilities.

The Fund seeks to provide a high level of current income and, secondarily, capital appreciation. In selecting securities for the Fund's portfolio, the portfolio managers consider factors such as economic and political trends, business and financial conditions, earnings, and other factors that may impact investment decisions. The Fund's investment strategies and risks are discussed in more detail in the sections below.

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