UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

811-01241
Investment Company Act File Number

Eaton Vance Growth Trust

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)

Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number, Including Area Code)

August 31

Date of Fiscal Year End

November 30, 2011

Date of Reporting Period

Item 1. Schedule of Investments

Eaton Vance

Asian Small Companies Fund

November 30, 2011 (Unaudited)

Eaton Vance Asian Small Companies Fund (the Fund), a diversified series of Eaton Vance Growth Trust, invests substantially all of its assets in Asian Small Companies Portfolio (the Portfolio) and owns a pro rata interest in the Portfolio’s net assets. At November 30, 2011, the value of the Fund’s investment in the Portfolio was $31,527,546 and the Fund owned 44.1% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

Asian Small Companies Portfolio
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 95.7%

Security	Shares		Value
Australia — 1.7%
Metals & Mining — 1.7%
Kingsgate Consolidated, Ltd.		174,350	$	1,204,331
			$	1,204,331
Total Australia (identified cost $1,493,117)			$	1,204,331
China — 18.1%
Containers & Packaging — 3.9%
AMVIG Holdings, Ltd.		4,682,000	$	2,795,795
			$	2,795,795
Electronic Equipment, Instruments & Components — 1.7%
China High Precision Automation Group, Ltd.(1)		3,338,000	$	1,177,296
			$	1,177,296
Food Products — 3.1%
China Minzhong Food Corp., Ltd.(1)		967,000	$	665,902
Uni-President China Holdings, Ltd.		2,764,000		1,537,210
			$	2,203,112
Gas Utilities — 0.5%
China Resources Gas Group, Ltd.		252,000	$	380,208
			$	380,208
Household Products — 5.7%
Vinda International Holdings, Ltd.		1,124,000	$	1,477,868
Youyuan International Holdings, Ltd.(1)		9,742,000		2,593,580
			$	4,071,448
Multiline Retail — 1.2%
Parkson Retail Group, Ltd.		710,500	$	881,133
			$	881,133
Real Estate Management & Development — 2.0%
Perennial China Retail Trust(1)		1,966,000	$	804,785
SOHO China, Ltd.		958,000		651,945
			$	1,456,730
Total China (identified cost $14,640,735)			$	12,965,722
Hong Kong — 6.8%
Consumer Finance — 1.2%
Public Financial Holdings, Ltd.		1,852,000	$	847,884
			$	847,884
Diversified Financial Services — 1.4%
First Pacific Co., Ltd.		912,000	$	1,013,180
			$	1,013,180

1

Security	Shares		Value
Food Products — 2.3%
Biostime International Holdings, Ltd.		1,010,500	$	1,679,314
			$	1,679,314
Multiline Retail — 0.5%
AEON Stores (Hong Kong) Co., Ltd.		151,500	$	340,846
			$	340,846
Textiles, Apparel & Luxury Goods — 1.4%
Stella International Holdings, Ltd.		416,500	$	971,443
			$	971,443
Total Hong Kong (identified cost $4,912,705)			$	4,852,667
India — 7.5%
Commercial Banks — 3.0%
Allahabad Bank, Ltd.		715,364	$	2,144,779
			$	2,144,779
Household Products — 1.4%
Jyothy Laboratories, Ltd.		361,312	$	1,026,284
			$	1,026,284
Personal Products — 1.8%
Godrej Consumer Products, Ltd.		163,920	$	1,267,655
			$	1,267,655
Pharmaceuticals — 1.3%
Aurobindo Pharma, Ltd.		512,370	$	919,177
			$	919,177
Total India (identified cost $9,247,067)			$	5,357,895
Indonesia — 6.9%
Commercial Banks — 3.1%
Bank Bukopin Tbk PT		32,649,500	$	2,229,630
			$	2,229,630
Consumer Finance — 2.5%
Clipan Finance Indonesia Tbk PT		36,291,000	$	1,752,536
			$	1,752,536
Oil, Gas & Consumable Fuels — 1.3%
Sakari Resources, Ltd.		605,000	$	930,702
			$	930,702
Total Indonesia (identified cost $5,128,227)			$	4,912,868
Malaysia — 17.5%
Automobiles — 2.7%
DRB-HICOM Bhd		2,929,300	$	1,914,884
			$	1,914,884

2

Security	Shares		Value
Construction & Engineering — 3.1%
Mudajaya Group Bhd		3,100,966	$	2,193,338
			$	2,193,338
Food Products — 2.0%
Oldtown Bhd		4,284,200	$	1,455,698
			$	1,455,698
Health Care Equipment & Supplies — 4.0%
Supermax Corp. Bhd		2,473,100	$	2,871,526
			$	2,871,526
Multiline Retail — 2.6%
Aeon Co. (M) Bhd		809,000	$	1,829,988
			$	1,829,988
Real Estate Management & Development — 1.2%
Selangor Properties Bhd		844,300	$	878,979
			$	878,979
Specialty Retail — 1.9%
Padini Holdings Bhd		4,007,200	$	1,360,557
			$	1,360,557
Total Malaysia (identified cost $14,699,902)			$	12,504,970
Singapore — 16.7%
Air Freight & Logistics — 1.0%
Singapore Post, Ltd.		956,000	$	737,590
			$	737,590
Construction & Engineering — 2.1%
PEC, Ltd.		2,903,000	$	1,524,543
			$	1,524,543
Energy Equipment & Services — 0.9%
Ezion Holdings, Ltd.		1,160,000	$	614,276
			$	614,276
Food & Staples Retailing — 2.0%
Olam International, Ltd.		772,000	$	1,443,388
			$	1,443,388
Food Products — 1.6%
Petra Foods, Ltd.		139,000	$	186,834
Super Group, Ltd.		801,000		954,406
			$	1,141,240
Hotels, Restaurants & Leisure — 1.4%
Overseas Union Enterprise, Ltd.		628,000	$	1,001,635
			$	1,001,635
Multiline Retail — 2.1%
Parkson Retail Asia, Ltd.(1)		1,703,000	$	1,528,069
			$	1,528,069
Real Estate Investment Trusts (REITs) — 2.3%
CDL Hospitality Trusts		1,407,000	$	1,650,991
			$	1,650,991

3

Security	Shares		Value
Specialty Retail — 3.3%
OSIM International, Ltd.		2,877,000	$	2,337,159
			$	2,337,159
Total Singapore (identified cost $13,241,429)			$	11,978,891
South Korea — 8.2%
Beverages — 2.7%
Hite-Jinro Co., Ltd.		70,980	$	1,902,529
			$	1,902,529
Commercial Banks — 1.8%
BS Financial Group, Inc.(1)		120,290	$	1,252,580
			$	1,252,580
Commercial Services & Supplies — 1.0%
KEPCO Plant Service & Engineering Co., Ltd.		22,780	$	730,803
			$	730,803
Internet & Catalog Retail — 1.7%
CJ O Shopping Co., Ltd.		5,031	$	1,249,639
			$	1,249,639
Metals & Mining — 1.0%
POSCO Chemtech Co., Ltd.		4,330	$	744,361
			$	744,361
Total South Korea (identified cost $6,036,784)			$	5,879,912
Taiwan — 9.6%
Computers & Peripherals — 3.5%
Pegatron Corp.		1,373,000	$	1,459,242
Simplo Technology Co., Ltd.		181,000		1,017,521
			$	2,476,763
Health Care Equipment & Supplies — 3.8%
Pacific Hospital Supply Co., Ltd.		522,000	$	1,471,112
St. Shine Optical Co., Ltd.		108,000		1,231,469
			$	2,702,581
Leisure Equipment & Products — 0.8%
Giant Manufacturing Co., Ltd.		163,000	$	591,427
			$	591,427
Semiconductors & Semiconductor Equipment — 1.5%
Radiant Opto-Electronics Corp.		357,240	$	1,085,558
			$	1,085,558
Total Taiwan (identified cost $7,287,045)			$	6,856,329
Thailand — 2.7%
Insurance — 1.0%
Bangkok Life Assurance PCL(2)		431,500	$	715,262
			$	715,262

4

Security	Shares		Value
Real Estate Management & Development — 1.7%
Ticon Industrial Connection PCL(2)		3,464,600	$	1,221,102
			$	1,221,102
Total Thailand (identified cost $1,732,222)			$	1,936,364
Total Common Stocks — 95.7% (identified cost $78,419,233)			$	68,449,949

Short-Term Investments — 3.6%

	Principal
	Amount
Description	(000’s omitted)		Value
State Street Bank and Trust Euro Time Deposit, 0.01%, 12/1/11	$	2,609	$	2,608,580
Total Short-Term Investments (identified cost $2,608,580)			$	2,608,580
Total Investments — 99.3% (identified cost $81,027,813)			$	71,058,529
Other Assets, Less Liabilities — 0.7%			$	500,941
Net Assets — 100.0%			$	71,559,470

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

PCL	-	Public Company Ltd.
(1)		Non-income producing security.
(2)		Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits.

The Portfolio did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Portfolio at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	82,025,275
Gross unrealized appreciation	$	2,032,435
Gross unrealized depreciation		(12,999,181	)
Net unrealized depreciation	$	(10,966,746	)

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

5

At November 30, 2011, the hierarchy of inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2			Level 3		Total
Common Stocks
Australia	$	—	$	1,204,331		$	—	$	1,204,331
China		1,177,296		11,788,426			—		12,965,722
Hong Kong		—		4,852,667			—		4,852,667
India		—		5,357,895			—		5,357,895
Indonesia		—		4,912,868			—		4,912,868
Malaysia		1,455,698		11,049,272			—		12,504,970
Singapore		1,528,069		10,450,822			—		11,978,891
South Korea		—		5,879,912			—		5,879,912
Taiwan		—		6,856,329			—		6,856,329
Thailand		1,936,364		—			—		1,936,364
Total Common Stocks	$	6,097,427	$	62,352,522	*	$	—	$	68,449,949
Short-Term Investments	$	—	$	2,608,580		$	—	$	2,608,580
Total Investments	$	6,097,427	$	64,961,102		$	—	$	71,058,529

*  Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The Portfolio held no investments or other financial instruments as of August 31, 2011 whose fair value was determined using Level 3 inputs. At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the fiscal year to date then ended was not significant.

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

6

Eaton Vance
Greater China Growth Fund
November 30, 2011 (Unaudited)

Eaton Vance Greater China Growth Fund (the Fund), a non-diversified series of Eaton Vance Growth Trust, invests substantially all of its assets in Greater China Growth Portfolio (the Portfolio) and owns a pro rata interest in the Portfolio’s net assets. At November 30, 2011, the value of the Fund’s investment in the Portfolio was $160,615,688 and the Fund owned 99.9% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

Greater China Growth Portfolio
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.0%

Security	Shares		Value
China — 52.6%
Automobiles — 2.0%
Dongfeng Motor Group Co., Ltd., Class H		2,110,000	$	3,169,071
			$	3,169,071
Commercial Banks — 6.4%
China Construction Bank Corp., Class H		6,501,110	$	4,623,315
Industrial & Commercial Bank of China, Ltd., Class H		9,694,000		5,652,192
			$	10,275,507
Communications Equipment — 4.2%
AAC Technologies Holdings, Inc.		1,470,000	$	3,544,906
ZTE Corp., Class H		1,030,320		3,152,521
			$	6,697,427
Computers & Peripherals — 2.1%
Lenovo Group, Ltd.		4,602,000	$	3,280,570
			$	3,280,570
Diversified Consumer Services — 1.5%
New Oriental Education & Technology Group, Inc. ADR(1)		96,800	$	2,443,232
			$	2,443,232
Diversified Telecommunication Services — 1.1%
China Unicom (Hong Kong), Ltd.		772,000	$	1,676,055
			$	1,676,055
Energy Equipment & Services — 1.7%
China Oilfield Services, Ltd., Class H		1,730,000	$	2,670,182
			$	2,670,182
Food Products — 2.0%
Uni-President China Holdings, Ltd.		1,237,000	$	687,963
Want Want China Holdings, Ltd.		2,485,000		2,587,764
			$	3,275,727
Hotels, Restaurants & Leisure — 1.1%
Home Inns & Hotels Management, Inc. ADR(1)		55,300	$	1,717,618
			$	1,717,618
Insurance — 3.3%
China Life Insurance Co., Ltd., Class H		509,000	$	1,368,840
China Pacific Insurance (Group) Co., Ltd., Class H		255,000		733,830
PICC Property & Casualty Co., Ltd., Class H		626,000		848,360
Ping An Insurance (Group) Co. of China, Ltd., Class H		331,000		2,306,044
			$	5,257,074
Internet Software & Services — 4.4%
Baidu, Inc. ADR(1)		24,400	$	3,196,156
Tencent Holdings, Ltd.		200,800		3,916,540
			$	7,112,696
Machinery — 1.7%
Sany Heavy Equipment International Holdings Co., Ltd.		2,910,000	$	2,759,357
			$	2,759,357

1

Security	Shares		Value
Media — 0.7%
Focus Media Holding, Ltd. ADR(1)		63,700	$	1,179,724
			$	1,179,724
Metals & Mining — 2.3%
Zhaojin Mining Industry Co., Ltd., Class H		968,000	$	1,690,350
Zijin Mining Group Co., Ltd., Class H		4,386,000		1,960,471
			$	3,650,821
Oil, Gas & Consumable Fuels — 7.7%
China Shenhua Energy Co., Ltd., Class H		770,000	$	3,398,782
CNOOC, Ltd.		2,726,000		5,287,969
PetroChina Co., Ltd., Class H		2,880,000		3,739,854
			$	12,426,605
Real Estate Management & Development — 2.7%
China Overseas Land & Investment, Ltd.		862,000	$	1,521,590
Longfor Properties Co., Ltd.		2,415,000		2,862,858
			$	4,384,448
Specialty Retail — 3.0%
Belle International Holdings, Ltd.		1,784,000	$	3,432,467
China ZhengTong Auto Services Holdings, Ltd.(1)		1,403,000		1,429,212
			$	4,861,679
Wireless Telecommunication Services — 4.7%
China Mobile, Ltd.		767,000	$	7,573,659
			$	7,573,659
Total China (identified cost $86,284,032)			$	84,411,452
Hong Kong — 22.0%
Commercial Banks — 2.3%
BOC Hong Kong (Holdings), Ltd.		1,030,500	$	2,362,067
Hang Seng Bank, Ltd.		107,600		1,327,563
			$	3,689,630
Distributors — 2.6%
Li & Fung, Ltd.		2,050,000	$	4,264,793
			$	4,264,793
Diversified Financial Services — 1.1%
Hong Kong Exchanges and Clearing, Ltd.		103,000	$	1,702,010
			$	1,702,010
Electric Utilities — 1.0%
Power Assets Holdings, Ltd.		209,500	$	1,569,725
			$	1,569,725
Hotels, Restaurants & Leisure — 0.9%
Sands China, Ltd.(1)		478,000	$	1,430,376
			$	1,430,376
Household Durables — 0.3%
Techtronic Industries Co., Ltd.		490,000	$	449,824
			$	449,824
Industrial Conglomerates — 1.9%
Hutchison Whampoa, Ltd.		357,000	$	3,135,443
			$	3,135,443

2

Security	Shares		Value
Insurance — 2.3%
AIA Group, Ltd.		1,174,200	$	3,698,453
			$	3,698,453
Real Estate Management & Development — 6.3%
Cheung Kong (Holdings), Ltd.		274,000	$	3,163,053
Sun Hung Kai Properties, Ltd.		211,331		2,613,502
Swire Pacific, Ltd., Class A		192,000		2,343,847
Wharf Holdings, Ltd. (The)		406,000		1,978,986
			$	10,099,388
Semiconductors & Semiconductor Equipment — 0.8%
ASM Pacific Technology, Ltd.		123,800	$	1,376,912
			$	1,376,912
Specialty Retail — 1.4%
Emperor Watch & Jewellery, Ltd.		14,900,000	$	2,182,499
			$	2,182,499
Textiles, Apparel & Luxury Goods — 1.1%
Stella International Holdings, Ltd.		758,000	$	1,767,957
			$	1,767,957
Total Hong Kong (identified cost $40,776,938)			$	35,367,010
Singapore — 1.8%
Industrial Conglomerates — 1.8%
Jardine Matheson Holdings, Ltd.		57,200	$	2,893,005
			$	2,893,005
Total Singapore (identified cost $2,891,426)			$	2,893,005
Taiwan — 23.6%
Capital Markets — 1.3%
Yuanta Financial Holding Co., Ltd.(1)		4,174,770	$	2,091,739
			$	2,091,739
Chemicals — 2.0%
Formosa Plastics Corp.		1,167,000	$	3,149,010
			$	3,149,010
Commercial Banks — 1.9%
Chinatrust Financial Holding Co., Ltd.		5,483,103	$	3,115,456
			$	3,115,456
Computers & Peripherals — 1.6%
Catcher Technology Co., Ltd.		363,000	$	1,773,803
Quanta Computer, Inc.		364,000		732,635
			$	2,506,438
Electronic Equipment, Instruments & Components — 3.7%
Hon Hai Precision Industry Co., Ltd.		1,067,580	$	2,903,259
Synnex Technology International Corp.		1,248,357		2,992,180
			$	5,895,439
Food & Staples Retailing — 1.1%
President Chain Store Corp.		341,000	$	1,718,612
			$	1,718,612

3

Security	Shares		Value
Health Care Equipment & Supplies — 1.0%
St. Shine Optical Co., Ltd.		141,000	$	1,607,751
			$	1,607,751
Marine — 0.9%
First Steamship Co., Ltd.		1,095,000	$	1,512,039
			$	1,512,039
Multiline Retail — 1.3%
Far Eastern Department Stores, Ltd.		1,680,840	$	2,150,437
			$	2,150,437
Semiconductors & Semiconductor Equipment — 6.6%
Advanced Semiconductor Engineering, Inc.		2,124,995	$	1,921,994
Taiwan Semiconductor Manufacturing Co., Ltd.		3,490,839		8,751,562
			$	10,673,556
Wireless Telecommunication Services — 2.2%
Taiwan Mobile Co., Ltd.		1,074,600	$	3,458,058
			$	3,458,058
Total Taiwan (identified cost $40,711,057)			$	37,878,535
Total Common Stocks — 100.0% (identified cost $170,663,453)			$	160,550,002
Other Assets, Less Liabilities — 0.0%(2)			$	66,039
Net Assets — 100.0%			$	160,616,041

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
ADR	-	American Depositary Receipt
(1)		Non-income producing security
(2)		Amount is less than 0.05%

The Portfolio did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Portfolio at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	171,409,702
Gross unrealized appreciation	$	11,167,743
Gross unrealized depreciation		(22,027,443	)
Net unrealized depreciation	$	(10,859,700	)

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

4

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At November 30, 2011, the hierarchy of inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2			Level 3		Total
Common Stocks
Consumer Discretionary	$	5,340,574	$	20,276,636		$	—	$	25,617,210
Consumer Staples		—		4,994,339			—		4,994,339
Energy		—		15,096,787			—		15,096,787
Financials		—		44,313,705			—		44,313,705
Health Care		—		1,607,751			—		1,607,751
Industrials		—		10,299,844			—		10,299,844
Information Technology		3,196,156		34,346,882			—		37,543,038
Materials		—		6,799,831			—		6,799,831
Telecommunication Services		—		12,707,772			—		12,707,772
Utilities		—		1,569,725			—		1,569,725
Total Common Stocks	$	8,536,730	$	152,013,272	*	$	—	$	160,550,002
Total Investments	$	8,536,730	$	152,013,272		$	—	$	160,550,002

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The Portfolio held no investments or other financial instruments as of August 31, 2011 whose fair value was determined using Level 3 inputs. At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the fiscal year to date then ended was not significant.

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

5

Eaton Vance
Multi-Cap Growth Fund
November 30, 2011 (Unaudited)

Eaton Vance Multi-Cap Growth Fund (the Fund), a diversified series of Eaton Vance Growth Trust, invests substantially all of its assets in Multi-Cap Growth Portfolio (the Portfolio) and owns a pro rata interest in the Portfolio’s net assets. At November 30, 2011, the value of the Fund’s investment in the Portfolio was $149,059,881 and the Fund owned 97.1% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

Multi-Cap Growth Portfolio
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 98.5%⁽¹⁾

Security	Shares		Value
Aerospace & Defense — 1.9%
Precision Castparts Corp.		17,500	$	2,883,125
			$	2,883,125
Air Freight & Logistics — 1.2%
Expeditors International of Washington, Inc.(2)		43,500	$	1,892,685
			$	1,892,685
Auto Components — 0.8%
Lear Corp.		27,600	$	1,157,268
			$	1,157,268
Beverages — 1.3%
Anheuser-Busch InBev NV ADR(2)		22,500	$	1,350,000
Beam, Inc.(2)		12,500		656,500
			$	2,006,500
Capital Markets — 1.1%
Lazard, Ltd., Class A		22,300	$	575,786
T. Rowe Price Group, Inc.(2)		18,300		1,038,708
			$	1,614,494
Chemicals — 4.5%
Celanese Corp., Class A		54,050	$	2,512,785
Monsanto Co.		39,000		2,864,550
Praxair, Inc.		14,200		1,448,400
			$	6,825,735
Commercial Services & Supplies — 1.4%
Waste Connections, Inc.(2)		66,999	$	2,195,557
			$	2,195,557
Communications Equipment — 2.7%
QUALCOMM, Inc.		49,300	$	2,701,640
Riverbed Technology, Inc.(2)(3)		38,500		1,001,000
Sycamore Networks, Inc.		22,400		443,520
			$	4,146,160
Computers & Peripherals — 8.6%
Apple, Inc.(3)		21,300	$	8,140,860
Dell, Inc.(3)		118,400		1,865,984
EMC Corp.(3)		105,500		2,427,555
Quantum Corp.(3)		292,400		786,556
			$	13,220,955
Consumer Finance — 1.1%
American Express Co.		35,200	$	1,691,008
			$	1,691,008
Diversified Financial Services — 1.0%
Citigroup, Inc.		19,000	$	522,120
Moody’s Corp.(2)		29,800		1,034,358
			$	1,556,478
Energy Equipment & Services — 6.5%
Ensco PLC ADR(2)		45,100	$	2,343,847
Halliburton Co.		80,100		2,947,680

1

Security	Shares		Value
Rowan Cos., Inc.(3)		66,000	$	2,238,060
Tidewater, Inc.(2)		47,200		2,378,880
			$	9,908,467
Food Products — 1.2%
Mead Johnson Nutrition Co.		25,000	$	1,884,000
			$	1,884,000
Health Care Equipment & Supplies — 1.9%
Analogic Corp.		19,700	$	1,103,397
St. Jude Medical, Inc.		48,900		1,879,716
			$	2,983,113
Health Care Providers & Services — 6.4%
Catalyst Health Solutions, Inc.(2)(3)		29,200	$	1,518,984
Centene Corp.(2)(3)		55,500		2,148,405
DaVita, Inc.(3)		25,600		1,950,208
MEDNAX, Inc.(2)(3)		34,200		2,305,080
Team Health Holdings, Inc.(2)(3)		87,200		1,914,912
			$	9,837,589
Health Care Technology — 1.5%
Allscripts Healthcare Solutions, Inc.(2)(3)		116,600	$	2,269,036
			$	2,269,036
Hotels, Restaurants & Leisure — 5.5%
Panera Bread Co., Class A(2)(3)		14,400	$	2,064,672
Starbucks Corp.		43,500		1,891,380
Starwood Hotels & Resorts Worldwide, Inc.		28,300		1,349,344
Yum! Brands, Inc.		57,000		3,194,280
			$	8,499,676
Household Products — 2.1%
Church & Dwight Co., Inc.(2)		33,700	$	1,491,225
Colgate-Palmolive Co.		18,900		1,729,350
			$	3,220,575
Industrial Conglomerates — 0.8%
Danaher Corp.(2)		25,600	$	1,238,528
			$	1,238,528
Insurance — 0.5%
Aflac, Inc.(2)		17,900	$	777,576
			$	777,576
Internet & Catalog Retail — 3.4%
Amazon.com, Inc.(3)		14,500	$	2,788,205
priceline.com, Inc.(2)(3)		5,100		2,478,039
			$	5,266,244
Internet Software & Services — 6.1%
eBay, Inc.(3)		49,800	$	1,473,582
Google, Inc., Class A(3)		6,500		3,896,035
LinkedIn Corp., Class A(3)		4,600		303,278
Rackspace Hosting, Inc.(2)(3)		51,300		2,225,394
VeriSign, Inc.(2)		45,600		1,531,248
			$	9,429,537
IT Services — 2.9%
Accenture PLC, Class A		38,400	$	2,224,512
Visa, Inc., Class A		22,700		2,201,219
			$	4,425,731

2

Security	Shares		Value
Life Sciences Tools & Services — 0.8%
Bruker Corp.(3)		98,300	$	1,230,716
			$	1,230,716
Machinery — 4.9%
Cummins, Inc.		25,300	$	2,437,149
Kennametal, Inc.(2)		35,100		1,337,661
Parker Hannifin Corp.		23,900		1,978,442
Timken Co. (The)		43,200		1,814,832
			$	7,568,084
Media — 1.0%
Sirius XM Radio, Inc.(2)(3)		853,500	$	1,536,300
			$	1,536,300
Metals & Mining — 0.7%
Cliffs Natural Resources, Inc.(2)		15,600	$	1,057,836
			$	1,057,836
Oil, Gas & Consumable Fuels — 4.3%
Cabot Oil & Gas Corp.		31,400	$	2,781,726
Rosetta Resources, Inc.(2)(3)		27,845		1,513,097
SM Energy Co.		29,900		2,376,751
			$	6,671,574
Personal Products — 1.1%
Estee Lauder Cos., Inc. (The), Class A		14,800	$	1,746,104
			$	1,746,104
Pharmaceuticals — 2.4%
Allergan, Inc.		30,100	$	2,519,972
Warner Chilcott PLC, Class A(2)(3)		72,100		1,133,412
			$	3,653,384
Professional Services — 0.6%
Odyssey Marine Exploration, Inc.(2)(3)		349,300	$	890,715
			$	890,715
Real Estate Investment Trusts (REITs) — 1.0%
AvalonBay Communities, Inc.		11,700	$	1,460,745
			$	1,460,745
Road & Rail — 2.8%
J.B. Hunt Transport Services, Inc.(2)		43,300	$	1,979,676
Kansas City Southern(3)		33,346		2,268,528
			$	4,248,204
Semiconductors & Semiconductor Equipment — 3.3%
Cirrus Logic, Inc.(2)(3)		92,000	$	1,498,680
Cypress Semiconductor Corp.(2)(3)		63,700		1,214,759
NetLogic Microsystems, Inc.(3)		47,500		2,347,450
			$	5,060,889
Software — 3.2%
Ariba, Inc.(2)(3)		55,800	$	1,693,530
Intuit, Inc.		29,300		1,559,932
Microsoft Corp.		29,800		762,284
VMware, Inc., Class A(3)		8,800		850,784
			$	4,866,530

3

Security	Shares		Value
Specialty Retail — 3.0%
Ross Stores, Inc.		23,900	$	2,129,251
Signet Jewelers, Ltd.(2)		28,800		1,275,264
Tractor Supply Co.(2)		16,800		1,213,464
			$	4,617,979
Textiles, Apparel & Luxury Goods — 1.9%
NIKE, Inc., Class B		21,000	$	2,019,780
Warnaco Group, Inc. (The)(2)(3)		18,800		952,972
			$	2,972,752
Tobacco — 1.3%
Philip Morris International, Inc.		26,200	$	1,997,488
			$	1,997,488
Trading Companies & Distributors — 1.8%
W.W. Grainger, Inc.		14,600	$	2,728,740
			$	2,728,740
Total Common Stocks (identified cost $133,292,028)			$	151,238,077

Short-Term Investments — 12.2%

	Interest
Description	(000’s omitted)		Value
Eaton Vance Cash Collateral Fund, LLC, 0.05%(4)(5)	$	16,511	$	16,511,426
Eaton Vance Cash Reserves Fund, LLC, 0.07%(5)		2,249		2,249,066
Total Short-Term Investments (identified cost $18,760,492)			$	18,760,492
Total Investments — 110.7% (identified cost $152,052,520)			$	169,998,569

Covered Call Options Written — (0.0)%⁽⁶⁾

	Number of		Strike		Expiration
Security	Contracts		Price		Date	Value
Accenture PLC, Class A		96	$	62.50	12/17/11	$	(2,400	)
Ariba, Inc.		140		35.00	12/17/11		(350	)
Cabot Oil & Gas Corp.		79		95.00	12/17/11		(10,468	)
Celanese Corp., Class A		135		47.50	12/17/11		(17,550	)
Centene Corp.		139		40.00	12/17/11		(7,298	)
Cirrus Logic, Inc.		304		19.00	12/17/11		(760	)
Citigroup, Inc.		38		30.00	12/17/11		(1,767	)
Ensco PLC ADR		113		57.50	12/17/11		(1,130	)
Google, Inc., Class A		16		660.00	12/17/11		(440	)
Kansas City Southern		83		75.00	12/17/11		(1,245	)
Lazard, Ltd., Class A		47		25.00	12/17/11		(6,815	)
LinkedIn Corp., Class A		46		85.00	12/17/11		(345	)
Monsanto Co.		98		77.50	12/17/11		(3,969	)
Panera Bread Co., Class A		22		135.00	12/17/11		(20,900	)
Precision Castparts Corp.		44		175.00	12/17/11		(4,070	)
Riverbed Technology, Inc.		127		32.00	12/17/11		(825	)
Rosetta Resources, Inc.		28		60.00	12/17/11		(630	)
Total Covered Call Options Written
(premiums received $112,884)						$	(80,962	)
Other Assets, Less Liabilities — (10.7)%						$	(16,398,976	)
Net Assets — 100.0%						$	153,518,631

4

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

ADR	-	American Depositary Receipt
(1)		All or a portion of each applicable common stock for which a written call option is outstanding at November 30, 2011 has been pledged as collateral for such written option.
(2)		All or a portion of this security was on loan at November 30, 2011.
(3)		Non-income producing security.
(4)		The amount invested in Eaton Vance Cash Collateral Fund, LLC represents cash collateral received for securities on loan at November 30, 2011. Other Assets, Less Liabilities includes an equal and offsetting liability of the Portfolio to repay collateral amounts upon the return of loaned securities. At November 30, 2011, the Portfolio loaned securities having a market value of $16,774,635 and received $16,511,426 of cash collateral for the loans.
(5)		Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of November 30, 2011. Income earned from investments in Eaton Vance Cash Collateral Fund, LLC (excluding loan rebate fees) and net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended November 30, 2011 were $2,639 and $814, respectively.
(6)		Amount is less than 0.05%.

The cost and unrealized appreciation (depreciation) of investments of the Portfolio at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	152,050,103
Gross unrealized appreciation	$	21,946,724
Gross unrealized depreciation		(3,998,258	)
Net unrealized appreciation	$	17,948,466

Written call options activity for the fiscal year to date ended November 30, 2011 was as follows:

	Number of			Premiums
	Contracts			Received
Outstanding, beginning of period		3,724		$	64,739
Options written		5,114			539,302
Options exercised		(1,062	)		(151,049	)
Options expired		(6,221	)		(340,108	)
Outstanding, end of period		1,555		$	112,884

At November 30, 2011, the Portfolio had sufficient cash and/or securities to cover commitments under these contracts.

The Portfolio is subject to equity price risk in the normal course of pursuing its investment objective. The Portfolio writes covered call options on individual stocks above the current value of the stock to generate premium income. In writing call options on individual stocks, the Portfolio in effect, sells potential appreciation in the value of the applicable stock above the exercise price in exchange for the option premium received. The Portfolio retains the risk of loss, minus the premium received, should the price of the underlying stock decline.

At November 30, 2011, the aggregate fair value of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in a liability position and whose primary underlying risk exposure is equity price risk was $80,962.

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

5

At November 30, 2011, the hierarchy of inputs used in valuing the Portfolio’s investments and open derivative instruments, which are carried at value, were as follows:

Asset Description	Level 1			Level 2		Level 3		Total
Common Stocks	$	151,238,077		$	—	$	—	$	151,238,077
Short-Term Investments		—			18,760,492		—		18,760,492
Total Investments	$	151,238,077		$	18,760,492	$	—	$	169,998,569
Liability Description
Covered Call Options Written	$	(80,962	)	$	—	$	—	$	(80,962	)
Total	$	(80,962	)	$	—	$	—	$	(80,962	)

The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

The Portfolio held no investments or other financial instruments as of August 31, 2011 whose fair value was determined using Level 3 inputs. At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the fiscal year to date then ended was not significant.

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

6

Eaton Vance
Worldwide Health Sciences Fund
November 30, 2011 (Unaudited)

Eaton Vance Worldwide Health Sciences Fund (the Fund), a diversified series of Eaton Vance Growth Trust, invests substantially all of its assets in Worldwide Health Sciences Portfolio (the Portfolio) and owns a pro rata interest in the Portfolio’s net assets. At November 30, 2011, the value of the Fund’s investment in the Portfolio was $976,065,764 and the Fund owned 99.7% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

Worldwide Health Sciences Portfolio
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 97.58%

					Percentage of
Security	Shares		Value		Net Assets
Major Capitalization — Europe — 19.79%(1)
Elan Corp. PLC ADR(2)		1,288,200	$	13,938,324		1.42	%
Novartis AG		1,326,000		71,609,575		7.31
Roche Holding AG PC		323,000		51,380,958		5.25
Sanofi SA		480,000		33,574,043		3.43
Shire PLC ADR		229,700		23,273,204		2.38
			$	193,776,104		19.79	%
Major Capitalization — Far East — 5.75%(1)
Mitsubishi Tanabe Pharma Corp.		3,205,200	$	49,798,066		5.09	%
Sinopharm Group Co., Ltd., Class H		2,687,100		6,492,353		0.66
			$	56,290,419		5.75	%
Major Capitalization — North America — 45.76%(1)
Aetna, Inc.		476,800	$	19,939,776		2.04	%
Allergan, Inc.		490,000		41,022,800		4.19
Baxter International, Inc.		190,000		9,815,400		1.00
Bristol-Myers Squibb Co.		1,245,600		40,756,032		4.16
Cardinal Health, Inc.		185,000		7,855,100		0.80
Forest Laboratories, Inc.(2)		300,000		8,988,000		0.92
HCA Holdings, Inc.(2)		330,000		8,045,400		0.82
Humana, Inc.		185,000		16,405,800		1.68
Life Technologies Corp.(2)		321,800		12,463,314		1.27
McKesson Corp.		97,000		7,887,070		0.81
Medco Health Solutions, Inc.(2)		305,000		17,284,350		1.77
Merck & Co., Inc.		1,085,100		38,792,325		3.96
Pfizer, Inc.		2,275,000		45,659,250		4.66
Pharmasset, Inc.(2)		211,200		27,665,088		2.83
Regeneron Pharmaceuticals, Inc.(2)		160,600		9,542,852		0.97
Stryker Corp.		220,000		10,742,600		1.10
Thermo Fisher Scientific, Inc.(2)		363,200		17,161,200		1.75
UnitedHealth Group, Inc.		650,000		31,700,500		3.24
Watson Pharmaceuticals, Inc.(2)		458,800		29,647,656		3.03
WellPoint, Inc.		510,000		35,980,500		3.68
Zimmer Holdings, Inc.(2)		210,000		10,615,500		1.08
			$	447,970,513		45.76	%
Small & Mid Capitalization — Europe — 3.80%(1)
Given Imaging, Ltd.(2)		500,000	$	8,890,000		0.91	%
Hikma Pharmaceuticals PLC		1,019,000		10,015,483		1.02
Medivir AB, Class B(2)		93,000		883,489		0.09
Warner Chilcott PLC, Class A(2)		1,110,600		17,458,632		1.78
			$	37,247,604		3.80	%
Small & Mid Capitalization — Far East — 8.53%(1)
Nichi-Iko Pharmaceutical Co., Ltd.		865,000	$	19,471,731		1.99	%
Sawai Pharmaceutical Co., Ltd.		315,000		33,390,709		3.41
Shandong Weigao Group Medical Polymer Co., Ltd., Class H		11,200,000		9,696,769		0.99
Towa Pharmaceutical Co., Ltd.		470,000		20,965,731		2.14
			$	83,524,940		8.53	%
Small & Mid Capitalization — North America — 13.95%(1)
Align Technology, Inc.(2)		675,000	$	16,537,500		1.69	%
BioMarin Pharmaceutical, Inc.(2)		715,900		24,784,458		2.53
Dendreon Corp.(2)		1,450,100		12,528,864		1.28
Exact Sciences Corp.(2)		800,000		6,792,000		0.69

1

					Percentage of
Security	Shares		Value		Net Assets
Incyte Corp.(2)		1,908,000	$	26,273,160		2.68	%
NPS Pharmaceuticals, Inc.(2)		1,134,500		6,443,960		0.66
Onyx Pharmaceuticals, Inc.(2)		436,200		19,236,420		1.97
OraSure Technologies, Inc.(2)		558,000		5,301,000		0.54
Sequenom, Inc.(2)		1,800,000		7,524,000		0.77
VIVUS, Inc.(2)		1,100,000		11,143,000		1.14
			$	136,564,362		13.95	%
Total Common Stocks (identified cost $816,238,435)			$	955,373,942

Call Options Purchased — 0.00%

	Number of		Strike		Expiration			Percentage of
Description	Contracts		Price		Date	Value		Net Assets
Small & Mid Capitalization — North America — 0.00%(1)
Orchid Cellmark, Inc.(2)(3)		1,600	$	21.70	12/12/11	$	0		0.00	%
Total Call Options Purchased (identified cost $0)						$	0

Short-Term Investments — 1.75%

	Interest				Percentage of
Description	(000’s Omitted)		Value		Net Assets
Eaton Vance Cash Reserves Fund, LLC, 0.07%(4)	$	17,084	$	17,083,747		1.75	%
Total Short-Term Investments (identified cost $17,083,747)			$	17,083,747
Total Investments (identified cost $833,322,182)			$	972,457,689		99.33	%
Other Assets, Less Liabilities			$	6,563,292		0.67	%
Net Assets			$	979,020,981		100.00	%

ADR	-	American Depositary Receipt
PC	-	Participation Certificate
(1)		Major Capitalization is defined as market value of $5 billion or more. Small & Mid Capitalization is defined as market value less than $5 billion.
(2)		Non-income producing security.
(3)		Security valued at fair value using methods determined in good faith by or at the direction of the Trustees.
(4)		Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of November 30, 2011. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended November 30, 2011 was $8,379.

2

The Portfolio did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Portfolio at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	834,476,174
Gross unrealized appreciation	$	181,876,846
Gross unrealized depreciation		(43,895,331	)
Net unrealized appreciation	$	137,981,515

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At November 30, 2011, the hierarchy of inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2			Level 3		Total
Common Stocks
Major Capitalization — Europe	$	37,211,528	$	156,564,576		$	—	$	193,776,104
Major Capitalization — Far East		—		56,290,419			—		56,290,419
Major Capitalization — North America		447,970,513		—			—		447,970,513
Small & Mid Capitalization — Europe		26,348,632		10,898,972			—		37,247,604
Small & Mid Capitalization — Far East		—		83,524,940			—		83,524,940
Small & Mid Capitalization — North America		136,564,362		—			—		136,564,362
Total Common Stocks	$	648,095,035	$	307,278,907	*	$	—	$	955,373,942
Call Options Purchased	$	—	$	—		$	0	$	0
Short-Term Investments		—		17,083,747			—		17,083,747
Total Investments	$	648,095,035	$	324,362,654		$	0	$	972,457,689

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The only Level 3 activity during the fiscal year to date ended November 30, 2011 was the expiration of a call option that was valued at $0 at August 31, 2011 with no gain or loss to the Portfolio. At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the fiscal year to date then ended was not significant.

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

3

Eaton Vance
Richard Bernstein Equity Strategy Fund
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 86.1%

Security	Shares		Value
Aerospace & Defense — 1.5%
Boeing Co. (The)		13,774	$	946,136
Honeywell International, Inc.		21,694		1,174,730
Precision Castparts Corp.		6,911		1,138,587
Raytheon Co.		21,323		971,689
United Technologies Corp.		17,798		1,363,327
			$	5,594,469
Automobiles — 1.1%
Ford Motor Co.(1)		106,284	$	1,126,610
Honda Motor Co., Ltd.		26,900		853,654
Hyundai Motor Co.		4,067		791,096
Toyota Motor Corp.		41,400		1,363,324
			$	4,134,684
Beverages — 2.3%
Anheuser-Busch InBev NV		20,101	$	1,201,974
Asahi Group Holdings, Ltd.		35,500		787,963
Coca-Cola Co. (The)		34,346		2,309,082
Diageo PLC		60,504		1,295,876
Kirin Holdings Co., Ltd.		58,000		708,137
PepsiCo, Inc.		33,500		2,144,000
			$	8,447,032
Biotechnology — 2.1%
Amgen, Inc.		35,532	$	2,057,658
Biogen Idec, Inc.(1)		14,722		1,692,294
Celgene Corp.(1)		15,603		984,237
Gilead Sciences, Inc.(1)		33,436		1,332,424
Isis Pharmaceuticals, Inc.(1)		197,192		1,463,165
			$	7,529,778
Building Products — 0.2%
Asahi Glass Co., Ltd.		67,000	$	573,545
			$	573,545
Chemicals — 0.9%
Dow Chemical Co. (The)		35,842	$	993,182
Monsanto Co.		18,708		1,374,103
Potash Corp. of Saskatchewan, Inc.		16,482		718,456
			$	3,085,741
Commercial Banks — 3.9%
Bank of the Ozarks, Inc.		27,213	$	771,489
City Holding Co.		21,142		688,383
Columbia Banking System, Inc.		38,242		688,356
Community Bank System, Inc.		26,945		711,887
F.N.B. Corp.		89,960		958,974
First Financial Bancorp		42,828		680,109
First Financial Bankshares, Inc.		21,748		717,684
First Midwest Bancorp, Inc.		75,220		714,590
Glacier Bancorp, Inc.		59,513		714,751
National Penn Bancshares, Inc.		86,034		716,663
Old National Bancorp		64,589		724,689
PacWest Bancorp		37,756		705,282
S&T Bancorp, Inc.		37,610		694,281

1

Security	Shares		Value
Susquehanna Bancshares, Inc.		93,716	$	742,231
Texas Capital Bancshares, Inc.(1)		25,443		734,285
UMB Financial Corp.		19,036		679,585
Umpqua Holdings Corp.		57,044		713,050
United Bankshares, Inc.		34,806		930,016
Wintrust Financial Corp.		33,612		934,077
			$	14,220,382
Communications Equipment — 0.8%
Cisco Systems, Inc.		57,810	$	1,077,578
QUALCOMM, Inc.		26,844		1,471,051
Telefonaktiebolaget LM Ericsson, Class B		32,925		351,251
			$	2,899,880
Computers & Peripherals — 1.8%
Apple, Inc.(1)		11,395	$	4,355,169
EMC Corp.(1)		39,287		903,994
Fujitsu, Ltd.		117,000		622,624
Hewlett-Packard Co.		28,851		806,385
			$	6,688,172
Diversified Telecommunication Services — 2.6%
AT&T, Inc.		92,772	$	2,688,533
CenturyLink, Inc.		39,649		1,487,631
Deutsche Telekom AG		60,393		784,180
France Telecom SA		56,288		971,561
Telefonica SA		89,651		1,683,497
Verizon Communications, Inc.		46,114		1,739,881
			$	9,355,283
Electric Utilities — 6.4%
American Electric Power Co., Inc.		64,639	$	2,564,876
Chubu Electric Power Co., Inc.		38,600		734,833
Duke Energy Corp.		87,950		1,833,757
E.ON AG		42,987		1,064,086
EDF SA		32,712		892,221
Edison International		61,759		2,427,746
Entergy Corp.		23,580		1,659,089
Exelon Corp.		61,917		2,743,542
FirstEnergy Corp.		35,609		1,583,532
Kansai Electric Power Co., Inc. (The)		42,200		632,138
Kyushu Electric Power Co., Inc.		44,600		618,968
NextEra Energy, Inc.		30,145		1,671,239
PPL Corp.		45,080		1,353,302
Progress Energy, Inc.		31,668		1,722,106
Southern Co. (The)		43,376		1,904,640
			$	23,406,075
Electrical Equipment — 0.3%
Emerson Electric Co.		17,302	$	904,029
			$	904,029
Electronic Equipment, Instruments & Components — 0.5%
Corning, Inc.		81,794	$	1,085,406
FUJIFILM Holdings Corp.		29,900		725,688
			$	1,811,094
Energy Equipment & Services — 1.2%
Baker Hughes, Inc.		9,264	$	505,907
Cameron International Corp.(1)		7,591		409,838
Halliburton Co.		11,497		423,089
Helmerich & Payne, Inc.		6,368		362,721
Nabors Industries, Ltd.(1)		25,321		454,259
National Oilwell Varco, Inc.		7,944		569,585

2

Security	Shares		Value
Noble Corp.(1)		15,411	$	532,142
Schlumberger, Ltd.		11,854		892,962
Weatherford International, Ltd.(1)		18,718		283,765
			$	4,434,268
Food & Staples Retailing — 4.0%
Aeon Co., Ltd.		56,200	$	767,947
Costco Wholesale Corp.		19,984		1,704,635
CVS Caremark Corp.		53,018		2,059,219
Kroger Co. (The)		68,867		1,596,337
Seven & i Holdings Co., Ltd.		39,000		1,088,898
Sysco Corp.		55,078		1,571,926
Tesco PLC		191,992		1,225,795
Wal-Mart Stores, Inc.		37,436		2,204,981
Walgreen Co.		20,715		698,510
Whole Foods Market, Inc.		20,846		1,419,613
			$	14,337,861
Food Products — 5.0%
Archer-Daniels-Midland Co.		55,134	$	1,660,636
Danone SA		16,265		1,073,856
General Mills, Inc.		37,928		1,515,224
Green Mountain Coffee Roasters, Inc.(1)		12,031		630,785
H.J. Heinz Co.		30,145		1,587,134
Kellogg Co.		28,478		1,399,978
Kraft Foods, Inc., Class A		38,278		1,383,750
Mead Johnson Nutrition Co.		30,607		2,306,543
Nestle SA		77,760		4,364,104
Unilever NV		67,460		2,297,675
			$	18,219,685
Gas Utilities — 0.4%
Osaka Gas Co., Ltd.		182,000	$	694,337
Tokyo Gas Co., Ltd.		163,000		699,194
			$	1,393,531
Health Care Equipment & Supplies — 3.2%
Baxter International, Inc.		15,287	$	789,726
Becton, Dickinson and Co.		19,290		1,423,216
Covidien PLC		21,751		990,758
Intuitive Surgical, Inc.(1)		2,630		1,141,972
Medtronic, Inc.		51,928		1,891,737
St. Jude Medical, Inc.		35,508		1,364,928
Stryker Corp.		30,915		1,509,580
Terumo Corp.		15,200		740,419
Zimmer Holdings, Inc.(1)		34,641		1,751,103
			$	11,603,439
Health Care Providers & Services — 5.6%
Aetna, Inc.		21,607	$	903,605
AmerisourceBergen Corp.		39,055		1,450,893
Cardinal Health, Inc.		31,439		1,334,900
Cigna Corp.		34,354		1,519,477
Express Scripts, Inc.(1)		38,176		1,742,734
HCA Holdings, Inc.(1)		69,792		1,701,529
Humana, Inc.		19,980		1,771,826
IPC The Hospitalist Co., Inc.(1)		25,843		1,191,362
McKesson Corp.		20,012		1,627,176
Medco Health Solutions, Inc.(1)		30,335		1,719,085
Triple-S Management Corp.(1)		72,911		1,420,306

3

Security	Shares		Value
UnitedHealth Group, Inc.		40,718	$	1,985,817
WellPoint, Inc.		30,125		2,125,319
			$	20,494,029
Hotels, Restaurants & Leisure — 0.5%
McDonald’s Corp.		17,917	$	1,711,432
			$	1,711,432
Household Products — 2.0%
Colgate-Palmolive Co.		10,823	$	990,304
Kimberly-Clark Corp.		22,013		1,573,269
Procter & Gamble Co.		56,703		3,661,313
Reckitt Benckiser Group PLC		19,689		998,877
			$	7,223,763
Independent Power Producers & Energy Traders — 0.9%
Calpine Corp.(1)		102,900	$	1,547,616
NRG Energy, Inc.(1)		94,472		1,859,209
			$	3,406,825
Industrial Conglomerates — 1.0%
3M Co.		13,872	$	1,124,187
General Electric Co.		93,751		1,491,579
Tyco International, Ltd.		24,343		1,167,490
			$	3,783,256
Internet & Catalog Retail — 0.3%
Amazon.com, Inc.(1)		6,009	$	1,155,471
			$	1,155,471
Internet Software & Services — 1.5%
eBay, Inc.(1)		29,754	$	880,421
Google, Inc., Class A(1)		5,511		3,303,238
Yahoo! Inc.(1)		75,746		1,189,970
			$	5,373,629
IT Services — 1.7%
Accenture PLC, Class A		15,807	$	915,699
International Business Machines Corp.		12,250		2,303,000
MasterCard, Inc., Class A		3,734		1,398,570
Visa, Inc., Class A		8,113		786,718
Western Union Co.		49,639		865,704
			$	6,269,691
Life Sciences Tools & Services — 0.7%
Agilent Technologies, Inc.(1)		44,083	$	1,653,112
Thermo Fisher Scientific, Inc.(1)		19,459		919,438
			$	2,572,550
Machinery — 1.1%
Caterpillar, Inc.		11,806	$	1,155,571
Deere & Co.		10,909		864,538
Fanuc, Ltd.		5,800		952,931
Stanley Black & Decker, Inc.		12,968		848,496
			$	3,821,536
Media — 2.6%
CBS Corp., Class B		40,117	$	1,044,647
Comcast Corp., Class A		46,682		1,058,281
DIRECTV, Class A(1)		18,676		881,881
McGraw-Hill Cos., Inc. (The)		23,494		1,003,194
News Corp., Class A		69,227		1,207,319
Time Warner Cable, Inc.		14,088		852,042
Time Warner, Inc.		43,926		1,529,503

4

Security	Shares		Value
Viacom, Inc., Class B		19,794	$	885,979
Walt Disney Co. (The)		31,022		1,112,139
			$	9,574,985
Metals & Mining — 1.6%
BHP Billiton, Ltd.		70,732	$	2,650,093
Freeport-McMoRan Copper & Gold, Inc.		17,808		705,197
JFE Holdings, Inc.		26,200		482,264
Nucor Corp.		26,315		1,037,601
Rio Tinto PLC		18,872		993,528
			$	5,868,683
Multi-Utilities — 3.5%
Consolidated Edison, Inc.		27,513	$	1,634,823
Dominion Resources, Inc.		35,428		1,828,793
GDF Suez		36,886		1,034,129
National Grid PLC		115,253		1,132,626
PG&E Corp.		37,146		1,442,751
Public Service Enterprise Group, Inc.		47,718		1,571,831
Sempra Energy		29,943		1,592,668
Xcel Energy, Inc.		89,646		2,356,793
			$	12,594,414
Multiline Retail — 0.3%
Target Corp.		18,851	$	993,448
			$	993,448
Office Electronics — 0.2%
Canon, Inc.		19,300	$	865,840
			$	865,840
Oil, Gas & Consumable Fuels — 4.7%
Anadarko Petroleum Corp.		7,925	$	644,065
Apache Corp.		6,099		606,485
BG Group PLC		13,298		285,227
Bill Barrett Corp.(1)		8,484		330,876
BP PLC		143,738		1,041,002
Canadian Natural Resources, Ltd.		8,462		317,838
Chesapeake Energy Corp.		10,056		254,819
Chevron Corp.		12,227		1,257,180
ConocoPhillips		11,003		784,734
Continental Resources, Inc.(1)		6,769		477,824
Devon Energy Corp.		7,671		502,144
EOG Resources, Inc.		5,526		573,267
Exxon Mobil Corp.		24,612		1,979,789
Hess Corp.		4,965		298,992
Husky Energy, Inc.		12,977		323,169
INPEX Corp.		37		249,782
Marathon Oil Corp.		18,459		516,114
Marathon Petroleum Corp.		12,926		431,599
Noble Energy, Inc.		5,532		544,293
Occidental Petroleum Corp.		8,558		846,386
Peabody Energy Corp.		10,288		403,598
Plains Exploration & Production Co.(1)		10,445		371,633
QEP Resources, Inc.		17,137		559,523
Royal Dutch Shell PLC, Class B		21,131		761,446
Southwestern Energy Co.(1)		7,739		294,469
Spectra Energy Corp.		24,483		720,290
Suncor Energy, Inc.		14,563		438,625
Total SA		5,321		274,524

5

Security	Shares		Value
Valero Energy Corp.		20,091	$	447,427
Williams Cos., Inc.		11,657		376,288
			$	16,913,408
Personal Products — 0.7%
Estee Lauder Cos., Inc. (The), Class A		15,045	$	1,775,009
Kao Corp.		27,400		725,127
			$	2,500,136
Pharmaceuticals — 8.7%
Abbott Laboratories		26,354	$	1,437,611
Allergan, Inc.		17,968		1,504,281
Astellas Pharma, Inc.		19,800		763,219
AstraZeneca PLC		23,810		1,096,635
Bayer AG		20,088		1,321,813
Bristol-Myers Squibb Co.		33,962		1,111,237
Daiichi Sankyo Co., Ltd.		36,200		652,742
Eisai Co., Ltd.		17,700		683,335
Eli Lilly & Co.		41,900		1,585,915
GlaxoSmithKline PLC		97,508		2,160,975
Johnson & Johnson		47,475		3,072,582
Merck & Co., Inc.		55,512		1,984,554
Novartis AG		48,328		2,609,915
Novo Nordisk A/S, Class B		9,657		1,096,265
Otsuka Holdings Co., Ltd.		28,600		784,901
Pfizer, Inc.		135,691		2,723,318
Roche Holding AG PC		23,838		3,792,010
Sanofi SA		23,147		1,619,038
Takeda Pharmaceutical Co., Ltd.		19,000		780,405
Teva Pharmaceutical Industries, Ltd.		24,104		955,566
			$	31,736,317
Road & Rail — 0.3%
Union Pacific Corp.		9,832	$	1,016,727
			$	1,016,727
Semiconductors & Semiconductor Equipment — 1.0%
Intel Corp.		41,972	$	1,045,523
Samsung Electronics Co., Ltd.		1,871		1,702,833
Texas Instruments, Inc.		26,739		804,844
			$	3,553,200
Software — 1.6%
Activision Blizzard, Inc.		83,774	$	1,040,473
Adobe Systems, Inc.(1)		43,780		1,200,448
CA, Inc.		42,700		905,240
Microsoft Corp.		69,995		1,790,472
Oracle Corp.		32,689		1,024,800
			$	5,961,433
Specialty Retail — 0.6%
Home Depot, Inc. (The)		32,413	$	1,271,238
Lowe’s Companies, Inc.		38,573		926,138
			$	2,197,376
Textiles, Apparel & Luxury Goods — 0.3%
NIKE, Inc., Class B		10,904	$	1,048,747
			$	1,048,747
Thrifts & Mortgage Finance — 0.8%
Brookline Bancorp, Inc.		87,693	$	705,052
Northwest Bancshares, Inc.		74,578		926,259

6

Security	Shares		Value
Oritani Financial Corp.		52,120	$	678,081
Provident Financial Services, Inc.		54,843		717,895
			$	3,027,287
Tobacco — 3.1%
Altria Group, Inc.		45,497	$	1,305,309
British American Tobacco PLC		39,347		1,825,978
Imperial Tobacco Group PLC		32,095		1,154,682
Japan Tobacco, Inc.		155		743,808
Lorillard, Inc.		18,346		2,047,781
Philip Morris International, Inc.		33,937		2,587,357
Reynolds American, Inc.		37,171		1,555,978
			$	11,220,893
Trading Companies & Distributors — 0.2%
Mitsubishi Corp.		36,400	$	752,512
			$	752,512
Wireless Telecommunication Services — 2.4%
American Tower Corp., Class A(1)		26,246	$	1,548,514
China Mobile, Ltd.		124,000		1,224,424
Crown Castle International Corp.(1)		29,974		1,268,500
Softbank Corp.		23,400		790,321
VimpelCom, Ltd. ADR		137,984		1,644,769
Vodafone Group PLC		792,457		2,145,266
			$	8,621,794
Total Common Stocks (identified cost $310,729,486)			$	312,898,330

Exchange-Traded Funds — 10.3%

Security	Shares		Value
iShares Russell 2000 Index Fund		254,399	$	18,751,750
iShares Russell 2000 Growth Index Fund		221,363		18,749,446
Total Exchange-Traded Funds (identified cost $38,804,780)			$	37,501,196

Short-Term Investments — 3.7%

	Interest
Description	(000’s omitted)		Value
Eaton Vance Cash Reserves Fund, LLC, 0.07%(2)	$	13,437	$	13,437,389
Total Short-Term Investments (identified cost $13,437,389)			$	13,437,389
Total Investments — 100.1% (identified cost $362,971,655)			$	363,836,915
Other Assets, Less Liabilities — (0.1)%			$	(421,228	)
Net Assets — 100.0%			$	363,415,687

7

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
ADR	-	American Depositary Receipt
PC	-	Participation Certificate
(1)		Non-income producing security.
(2)		Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of November 30, 2011. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended November 30, 2011 was $4,863.

Country Concentration of Portfolio

	Percentage
Country	of Net Assets			Value
United States		78.5	%	$	285,337,065
Japan		5.7			20,838,856
United Kingdom		4.5			16,117,913
Switzerland		3.5			12,749,426
France		1.6			5,865,329
Germany		0.9			3,170,079
Australia		0.7			2,650,093
South Korea		0.7			2,493,929
Netherlands		0.6			2,297,675
Ireland		0.5			1,906,457
Canada		0.5			1,798,088
Spain		0.5			1,683,497
Russia		0.5			1,644,769
China		0.3			1,224,424
Belgium		0.3			1,201,974
Denmark		0.3			1,096,265
Israel		0.3			955,566
Bermuda		0.1			454,259
Sweden		0.1			351,251
Total Investments		100.1	%	$	363,836,915

The Fund did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Fund at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	364,297,996
Gross unrealized appreciation	$	14,533,039
Gross unrealized depreciation		(14,994,120	)
Net unrealized depreciation	$	(461,081	)

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

8

At November 30, 2011, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2			Level 3		Total
Common Stocks
Consumer Discretionary	$	17,808,069	$	3,008,074		$	—	$	20,816,143
Consumer Staples		41,688,673		20,260,697			—		61,949,370
Energy		18,735,695		2,611,981			—		21,347,676
Financials		17,247,669		—			—		17,247,669
Health Care		54,878,875		19,057,238			—		73,936,113
Industrials		14,167,086		2,278,988			—		16,446,074
Information Technology		29,154,703		4,268,236			—		33,422,939
Materials		4,828,539		4,125,885			—		8,954,424
Telecommunication Services		10,377,828		7,599,249			—		17,977,077
Utilities		33,298,313		7,502,532			—		40,800,845
Total Common Stocks	$	242,185,450	$	70,712,880	*	$	—	$	312,898,330
Exchange-Traded Funds	$	37,501,196	$	—		$	—	$	37,501,196
Short-Term Investments		—		13,437,389			—		13,437,389
Total Investments	$	279,686,646	$	84,150,269		$	—	$	363,836,915

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

The Fund held no investments or other financial instruments as of August 31, 2011 whose fair value was determined using Level 3 inputs. At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the fiscal year to date then ended was not significant.

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.

9

Eaton Vance

Focused Growth Opportunities Fund

November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 99.0%

Security	Shares		Value
Aerospace & Defense — 6.7%
Boeing Co. (The)		12,368	$	849,558
United Technologies Corp.		9,097		696,830
			$	1,546,388
Biotechnology — 3.2%
Celgene Corp.(1)		11,797	$	744,155
			$	744,155
Chemicals — 5.4%
Ecolab, Inc.		8,802	$	501,890
Monsanto Co.		10,025		736,336
			$	1,238,226
Commercial Banks — 3.6%
Wells Fargo & Co.		31,843	$	823,460
			$	823,460
Communications Equipment — 6.8%
Juniper Networks, Inc.(1)		24,501	$	556,418
QUALCOMM, Inc.		18,298		1,002,730
			$	1,559,148
Computers & Peripherals — 9.1%
Apple, Inc.(1)		3,291	$	1,257,820
EMC Corp.(1)		36,309		835,470
			$	2,093,290
Energy Equipment & Services — 3.7%
Schlumberger, Ltd.		11,265	$	848,592
			$	848,592
Food & Staples Retailing — 5.0%
Costco Wholesale Corp.		6,916	$	589,935
CVS Caremark Corp.		14,734		572,268
			$	1,162,203
Food Products — 3.9%
Mead Johnson Nutrition Co.		12,100	$	911,856
			$	911,856
Health Care Equipment & Supplies — 3.3%
Intuitive Surgical, Inc.(1)		1,765	$	766,381
			$	766,381
Hotels, Restaurants & Leisure — 2.7%
Starbucks Corp.		14,160	$	615,677
			$	615,677
Household Durables — 1.5%
Tempur-Pedic International, Inc.(1)		6,183	$	337,654
			$	337,654
Internet & Catalog Retail — 4.8%
Amazon.com, Inc.(1)		2,418	$	464,957
Expedia, Inc.		23,344		649,314
			$	1,114,271

1

Security	Shares		Value
Internet Software & Services — 3.2%
eBay, Inc.(1)		24,867	$	735,814
			$	735,814
IT Services — 4.1%
Visa, Inc., Class A		9,748	$	945,264
			$	945,264
Machinery — 3.6%
Deere & Co.		10,581	$	838,544
			$	838,544
Media — 2.7%
Walt Disney Co. (The)		17,675	$	633,649
			$	633,649
Oil, Gas & Consumable Fuels — 7.6%
Anadarko Petroleum Corp.		7,417	$	602,780
Apache Corp.		5,360		532,998
Southwestern Energy Co.(1)		16,498		627,749
			$	1,763,527
Pharmaceuticals — 4.0%
Allergan, Inc.		10,925	$	914,641
			$	914,641
Road & Rail — 2.6%
Norfolk Southern Corp.		7,802	$	589,363
			$	589,363
Semiconductors & Semiconductor Equipment — 5.4%
Broadcom Corp., Class A(1)		22,114	$	671,049
Cypress Semiconductor Corp.(1)		30,448		580,644
			$	1,251,693
Software — 2.8%
Nuance Communications, Inc.(1)		26,335	$	647,314
			$	647,314
Textiles, Apparel & Luxury Goods — 3.3%
NIKE, Inc., Class B		8,011	$	770,498
			$	770,498
Total Common Stocks (identified cost $22,139,782)			$	22,851,608

Short-Term Investments — 2.0%

	Interest
Description	(000’s omitted)		Value
Eaton Vance Cash Reserves Fund, LLC, 0.07%(2)	$	452	$	452,493
Total Short-Term Investments (identified cost $452,493)			$	452,493
Total Investments — 101.0% (identified cost $22,592,275)			$	23,304,101
Other Assets, Less Liabilities — (1.0)%			$	(232,979	)
Net Assets — 100.0%			$	23,071,122

2

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
(1)	Non-income producing security.
(2)	Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of November 30, 2011. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the period from the start of business, March 7, 2011 to November 30, 2011 was $908.

The Fund did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Fund at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	22,592,275
Gross unrealized appreciation	$	1,374,431
Gross unrealized depreciation		(662,605	)
Net unrealized appreciation	$	711,826

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At November 30, 2011, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2		Level 3		Total
Common Stocks	$	22,851,608	$	—	$	—	$	22,851,608
Short-Term Investments		—		452,493		—		452,493
Total Investments	$	22,851,608	$	452,493	$	—	$	23,304,101

The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the period from the start of business, March 7, 2011, to November 30, 2011 was not significant.

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual report to shareholders.

3

Eaton Vance
Focused Value Opportunities Fund
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 99.2%

Security	Shares		Value
Aerospace & Defense — 4.0%
Boeing Co. (The)		13,788	$	947,098
			$	947,098
Beverages — 1.9%
PepsiCo, Inc.		7,177	$	459,328
			$	459,328
Capital Markets — 3.1%
Ameriprise Financial, Inc.		16,296	$	748,149
			$	748,149
Commercial Banks — 6.3%
U.S. Bancorp		26,896	$	697,144
Wells Fargo & Co.		30,457		787,618
			$	1,484,762
Computers & Peripherals — 3.5%
Apple, Inc.(1)		2,149	$	821,348
			$	821,348
Consumer Finance — 2.8%
American Express Co.		13,654	$	655,938
			$	655,938
Electric Utilities — 2.4%
PPL Corp.		19,335	$	580,437
			$	580,437
Energy Equipment & Services — 4.4%
Baker Hughes, Inc.		19,030	$	1,039,228
			$	1,039,228
Food & Staples Retailing — 3.7%
CVS Caremark Corp.		22,923	$	890,329
			$	890,329
Health Care Equipment & Supplies — 2.7%
Covidien PLC		14,000	$	637,700
			$	637,700
Health Care Providers & Services — 3.7%
UnitedHealth Group, Inc.		17,847	$	870,398
			$	870,398
Hotels, Restaurants & Leisure — 2.0%
McDonald’s Corp.		4,911	$	469,099
			$	469,099
Insurance — 7.1%
ACE, Ltd.		14,400	$	1,001,232
Prudential Financial, Inc.		13,582		687,792
			$	1,689,024
Life Sciences Tools & Services — 2.6%
Thermo Fisher Scientific, Inc.(1)		12,984	$	613,494
			$	613,494

1

Security	Shares		Value
Media — 1.6%
Time Warner, Inc.		11,269	$	392,387
			$	392,387
Metals & Mining — 3.1%
BHP Billiton, Ltd. ADR		5,812	$	436,888
Freeport-McMoRan Copper & Gold, Inc.		7,305		289,278
			$	726,166
Multi-Utilities — 5.2%
Sempra Energy		23,275	$	1,237,997
			$	1,237,997
Oil, Gas & Consumable Fuels — 9.3%
Exxon Mobil Corp.		13,090	$	1,052,960
Occidental Petroleum Corp.		11,574		1,144,668
			$	2,197,628
Pharmaceuticals — 3.6%
Johnson & Johnson		13,381	$	866,018
			$	866,018
Real Estate Investment Trusts (REITs) — 3.9%
AvalonBay Communities, Inc.		7,449	$	930,008
			$	930,008
Road & Rail — 3.6%
Union Pacific Corp.		8,287	$	856,959
			$	856,959
Software — 6.3%
Microsoft Corp.		30,677	$	784,717
Oracle Corp.		22,728		712,523
			$	1,497,240
Specialty Retail — 4.3%
TJX Companies, Inc. (The)		16,503	$	1,018,235
			$	1,018,235
Tobacco — 3.9%
Philip Morris International, Inc.		12,065	$	919,836
			$	919,836
Wireless Telecommunication Services — 4.2%
Vodafone Group PLC ADR		36,777	$	998,496
			$	998,496
Total Common Stocks (identified cost $23,178,164)			$	23,547,302

2

Short-Term Investments — 0.6%

	Interest
Description	(000’s omitted)		Value
Eaton Vance Cash Reserves Fund, LLC, 0.07%(2)	$	140	$	139,663
Total Short-Term Investments (identified cost $139,663)			$	139,663
Total Investments — 99.8% (identified cost $23,317,827)			$	23,686,965
Other Assets, Less Liabilities — 0.2%			$	56,865
Net Assets — 100.0%			$	23,743,830

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

ADR	-	American Depositary Receipt
(1)		Non-income producing security.
(2)		Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of November 30, 2011. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the period from the start of business, March 7, 2011, to November 30, 2011 was $574.

The Fund did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Fund at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	23,317,827
Gross unrealized appreciation	$	1,224,752
Gross unrealized depreciation		(855,614	)
Net unrealized appreciation	$	369,138

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At November 30, 2011, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2		Level 3		Total
Common Stocks	$	23,547,302	$	—	$	—	$	23,547,302
Short-Term Investments		—		139,663		—		139,663
Total Investments	$	23,547,302	$	139,663	$	—	$	23,686,965

The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments.

At November 30, 2011, the value of investments transferred between Level 1 and Level 2, if any, during the period from the start of business, March 7, 2011, to November 30, 2011 was not significant.

For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual report to shareholders.

3

Eaton Vance
Richard Bernstein All Asset Strategy Fund
November 30, 2011

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 38.3%

Security	Shares		Value
Aerospace & Defense — 0.7%
Boeing Co. (The)		425	$	29,193
Honeywell International, Inc.		709		38,392
Precision Castparts Corp.		207		34,103
Raytheon Co.		692		31,535
United Technologies Corp.		560		42,896
			$	176,119
Automobiles — 0.5%
Ford Motor Co.(1)		3,799	$	40,269
Honda Motor Co., Ltd.		1,000		31,734
Hyundai Motor Co.		137		26,649
Toyota Motor Corp.		1,400		46,103
			$	144,755
Beverages — 1.0%
Anheuser-Busch InBev NV		555	$	33,187
Asahi Group Holdings, Ltd.		1,200		26,635
Coca-Cola Co. (The)		1,243		83,567
Diageo PLC		1,723		36,903
Kirin Holdings Co., Ltd.		2,000		24,419
PepsiCo, Inc.		1,071		68,544
			$	273,255
Biotechnology — 0.9%
Amgen, Inc.		1,155	$	66,886
Biogen Idec, Inc.(1)		500		57,475
Celgene Corp.(1)		489		30,846
Gilead Sciences, Inc.(1)		1,148		45,748
Isis Pharmaceuticals, Inc.(1)		6,005		44,557
			$	245,512
Building Products — 0.1%
Asahi Glass Co., Ltd.		2,000	$	17,121
			$	17,121
Chemicals — 0.4%
Dow Chemical Co. (The)		1,440	$	39,902
Monsanto Co.		668		49,065
Potash Corp. of Saskatchewan, Inc.		632		27,549
			$	116,516
Commercial Banks — 1.8%
Bank of the Ozarks, Inc.		910	$	25,798
City Holding Co.		707		23,020
Columbia Banking System, Inc.		1,279		23,022
Community Bank System, Inc.		901		23,804
F.N.B. Corp.		3,010		32,087
First Financial Bancorp		1,433		22,756
First Financial Bankshares, Inc.		727		23,991
First Midwest Bancorp, Inc.		2,517		23,911
Glacier Bancorp, Inc.		1,991		23,912
National Penn Bancshares, Inc.		2,879		23,982
Old National Bancorp		2,162		24,258
PacWest Bancorp		1,263		23,593
S&T Bancorp, Inc.		1,258		23,223

1

Security	Shares		Value
Susquehanna Bancshares, Inc.		3,136	$	24,837
Texas Capital Bancshares, Inc.(1)		851		24,560
UMB Financial Corp.		637		22,741
Umpqua Holdings Corp.		1,909		23,863
United Bankshares, Inc.		1,164		31,102
Wintrust Financial Corp.		1,124		31,236
			$	475,696
Communications Equipment — 0.4%
Cisco Systems, Inc.		1,883	$	35,099
QUALCOMM, Inc.		845		46,306
Telefonaktiebolaget LM Ericsson, Class B		1,280		13,655
			$	95,060
Computers & Peripherals — 0.8%
Apple, Inc.(1)		348	$	133,006
EMC Corp.(1)		1,354		31,156
Fujitsu, Ltd.		4,000		21,286
Hewlett-Packard Co.		1,253		35,021
			$	220,469
Diversified Telecommunication Services — 1.1%
AT&T, Inc.		2,997	$	86,853
CenturyLink, Inc.		1,320		49,526
Deutsche Telekom AG		2,184		28,359
France Telecom SA		1,989		34,331
Telefonica SA		2,942		55,246
Verizon Communications, Inc.		1,405		53,011
			$	307,326
Electric Utilities — 2.8%
American Electric Power Co., Inc.		2,133	$	84,638
Chubu Electric Power Co., Inc.		1,300		24,748
Duke Energy Corp.		2,807		58,526
E.ON AG		1,197		29,630
EDF SA		989		26,975
Edison International		2,033		79,917
Entergy Corp.		759		53,403
Exelon Corp.		2,071		91,766
FirstEnergy Corp.		1,179		52,430
Kansai Electric Power Co., Inc. (The)		1,400		20,971
Kyushu Electric Power Co., Inc.		1,500		20,817
NextEra Energy, Inc.		1,010		55,995
PPL Corp.		1,393		41,818
Progress Energy, Inc.		988		53,728
Southern Co. (The)		1,414		62,089
			$	757,451
Electrical Equipment — 0.1%
Emerson Electric Co.		593	$	30,984
			$	30,984
Electronic Equipment, Instruments & Components — 0.3%
Corning, Inc.		3,026	$	40,155
FUJIFILM Holdings Corp.		1,100		26,698
			$	66,853
Energy Equipment & Services — 0.6%
Baker Hughes, Inc.		339	$	18,513
Cameron International Corp.(1)		297		16,035
Halliburton Co.		410		15,088
Helmerich & Payne, Inc.		304		17,316
Nabors Industries, Ltd.(1)		998		17,904
National Oilwell Varco, Inc.		279		20,004

2

Security	Shares		Value
Noble Corp.(1)		512	$	17,679
Schlumberger, Ltd.		421		31,714
Weatherford International, Ltd.(1)		1,031		15,630
			$	169,883
Food & Staples Retailing — 1.7%
Aeon Co., Ltd.		1,900	$	25,963
Costco Wholesale Corp.		642		54,762
CVS Caremark Corp.		1,921		74,612
Kroger Co. (The)		2,244		52,016
Seven & i Holdings Co., Ltd.		1,300		36,297
Sysco Corp.		1,814		51,771
Tesco PLC		5,713		36,475
Wal-Mart Stores, Inc.		1,181		69,561
Walgreen Co.		815		27,482
Whole Foods Market, Inc.		633		43,107
			$	472,046
Food Products — 2.2%
Archer-Daniels-Midland Co.		1,924	$	57,951
Danone SA		482		31,823
General Mills, Inc.		1,301		51,975
Green Mountain Coffee Roasters, Inc.(1)		446		23,384
H.J. Heinz Co.		932		49,070
Kellogg Co.		866		42,572
Kraft Foods, Inc., Class A		1,193		43,127
Mead Johnson Nutrition Co.		1,051		79,203
Nestle SA		2,477		139,016
Unilever NV		2,136		72,752
			$	590,873
Gas Utilities — 0.2%
Osaka Gas Co., Ltd.		6,000	$	22,891
Tokyo Gas Co., Ltd.		6,000		25,737
			$	48,628
Health Care Equipment & Supplies — 1.4%
Baxter International, Inc.		527	$	27,225
Becton, Dickinson and Co.		644		47,514
Covidien PLC		680		30,974
Intuitive Surgical, Inc.(1)		87		37,776
Medtronic, Inc.		1,751		63,789
St. Jude Medical, Inc.		1,242		47,743
Stryker Corp.		947		46,242
Terumo Corp.		500		24,356
Zimmer Holdings, Inc.(1)		1,073		54,240
			$	379,859
Health Care Providers & Services — 2.5%
Aetna, Inc.		768	$	32,118
AmerisourceBergen Corp.		1,163		43,206
Cardinal Health, Inc.		1,077		45,729
Cigna Corp.		1,076		47,592
Express Scripts, Inc.(1)		1,309		59,756
HCA Holdings, Inc.(1)		2,195		53,514
Humana, Inc.		599		53,119
IPC The Hospitalist Co., Inc.(1)		771		35,543
McKesson Corp.		653		53,095
Medco Health Solutions, Inc.(1)		1,027		58,200
Triple-S Management Corp.(1)		2,180		42,466

3

Security	Shares		Value
UnitedHealth Group, Inc.		1,370	$	66,815
WellPoint, Inc.		1,029		72,596
			$	663,749
Hotels, Restaurants & Leisure — 0.2%
McDonald’s Corp.		569	$	54,351
			$	54,351
Household Products — 0.9%
Colgate-Palmolive Co.		381	$	34,862
Kimberly-Clark Corp.		754		53,888
Procter & Gamble Co.		1,858		119,971
Reckitt Benckiser Group PLC		586		29,729
			$	238,450
Independent Power Producers & Energy Traders — 0.4%
Calpine Corp.(1)		3,543	$	53,287
NRG Energy, Inc.(1)		3,244		63,842
			$	117,129
Industrial Conglomerates — 0.5%
3M Co.		496	$	40,196
General Electric Co.		3,084		49,066
Tyco International, Ltd.		774		37,121
			$	126,383
Internet & Catalog Retail — 0.1%
Amazon.com, Inc.(1)		168	$	32,305
			$	32,305
Internet Software & Services — 0.7%
eBay, Inc.(1)		921	$	27,253
Google, Inc., Class A(1)		190		113,884
Yahoo! Inc.(1)		2,227		34,986
			$	176,123
IT Services — 0.7%
Accenture PLC, Class A		515	$	29,834
International Business Machines Corp.		373		70,124
MasterCard, Inc., Class A		120		44,946
Visa, Inc., Class A		254		24,630
Western Union Co.		1,752		30,555
			$	200,089
Life Sciences Tools & Services — 0.3%
Agilent Technologies, Inc.(1)		1,456	$	54,600
Thermo Fisher Scientific, Inc.(1)		572		27,027
			$	81,627
Machinery — 0.5%
Caterpillar, Inc.		445	$	43,557
Deere & Co.		385		30,511
Fanuc, Ltd.		200		32,860
Stanley Black & Decker, Inc.		489		31,995
			$	138,923
Media — 1.2%
CBS Corp., Class B		1,510	$	39,321
Comcast Corp., Class A		1,417		32,123
DIRECTV, Class A(1)		589		27,813
McGraw-Hill Cos., Inc. (The)		653		27,883
News Corp., Class A		2,282		39,798
Time Warner Cable, Inc.		455		27,518
Time Warner, Inc.		1,376		47,912

4

Security	Shares		Value
Viacom, Inc., Class B		729	$	32,630
Walt Disney Co. (The)		1,060		38,001
			$	312,999
Metals & Mining — 0.8%
BHP Billiton, Ltd.		2,522	$	94,491
Freeport-McMoRan Copper & Gold, Inc.		819		32,433
JFE Holdings, Inc.		900		16,566
Nucor Corp.		910		35,881
Rio Tinto PLC		730		38,431
			$	217,802
Multi-Utilities — 1.5%
Consolidated Edison, Inc.		932	$	55,379
Dominion Resources, Inc.		1,146		59,156
GDF Suez		1,080		30,279
National Grid PLC		3,534		34,730
PG&E Corp.		1,234		47,928
Public Service Enterprise Group, Inc.		1,557		51,288
Sempra Energy		990		52,658
Xcel Energy, Inc.		2,985		78,476
			$	409,894
Multiline Retail — 0.1%
Target Corp.		578	$	30,461
			$	30,461
Office Electronics — 0.1%
Canon, Inc.		600	$	26,917
			$	26,917
Oil, Gas & Consumable Fuels — 2.3%
Anadarko Petroleum Corp.		278	$	22,593
Apache Corp.		222		22,076
BG Group PLC		661		14,178
Bill Barrett Corp.(1)		345		13,455
BP PLC		4,567		33,076
Canadian Natural Resources, Ltd.		433		16,264
Chesapeake Energy Corp.		480		12,163
Chevron Corp.		401		41,231
ConocoPhillips		369		26,317
Continental Resources, Inc.(1)		268		18,918
Devon Energy Corp.		275		18,001
EOG Resources, Inc.		202		20,955
Exxon Mobil Corp.		808		64,996
Hess Corp.		239		14,393
Husky Energy, Inc.		584		14,543
INPEX Corp.		2		13,502
Marathon Oil Corp.		651		18,202
Marathon Petroleum Corp.		474		15,827
Noble Energy, Inc.		196		19,284
Occidental Petroleum Corp.		283		27,989
Peabody Energy Corp.		384		15,064
Plains Exploration & Production Co.(1)		556		19,782
QEP Resources, Inc.		634		20,700
Royal Dutch Shell PLC, Class B		684		24,648
Southwestern Energy Co.(1)		380		14,459
Spectra Energy Corp.		788		23,183
Suncor Energy, Inc.		503		15,150
Total SA		292		15,065
Valero Energy Corp.		734		16,346

5

Security	Shares		Value
Williams Cos., Inc.		521	$	16,818
			$	629,178
Personal Products — 0.3%
Estee Lauder Cos., Inc. (The), Class A		513	$	60,524
Kao Corp.		900		23,818
			$	84,342
Pharmaceuticals — 3.8%
Abbott Laboratories		933	$	50,895
Allergan, Inc.		574		48,055
Astellas Pharma, Inc.		700		26,982
AstraZeneca PLC		844		38,873
Bayer AG		597		39,283
Bristol-Myers Squibb Co.		1,117		36,548
Daiichi Sankyo Co., Ltd.		1,200		21,638
Eisai Co., Ltd.		600		23,164
Eli Lilly & Co.		1,449		54,845
GlaxoSmithKline PLC		3,001		66,508
Johnson & Johnson		1,569		101,546
Merck & Co., Inc.		1,753		62,670
Novartis AG		1,535		82,896
Novo Nordisk A/S, Class B		280		31,786
Otsuka Holdings Co., Ltd.		1,000		27,444
Pfizer, Inc.		4,529		90,897
Roche Holding AG PC		743		118,192
Sanofi SA		692		48,403
Takeda Pharmaceutical Co., Ltd.		700		28,752
Teva Pharmaceutical Industries, Ltd.		700		27,750
			$	1,027,127
Road & Rail — 0.1%
Union Pacific Corp.		352	$	36,400
			$	36,400
Semiconductors & Semiconductor Equipment — 0.4%
Intel Corp.		1,266	$	31,536
Samsung Electronics Co., Ltd.		58		52,787
Texas Instruments, Inc.		866		26,067
			$	110,390
Software — 0.7%
Activision Blizzard, Inc.		2,406	$	29,883
Adobe Systems, Inc.(1)		1,358		37,236
CA, Inc.		1,386		29,383
Microsoft Corp.		2,235		57,171
Oracle Corp.		996		31,225
			$	184,898
Specialty Retail — 0.2%
Home Depot, Inc. (The)		940	$	36,867
Lowe’s Companies, Inc.		1,201		28,836
			$	65,703
Textiles, Apparel & Luxury Goods — 0.1%
NIKE, Inc., Class B		333	$	32,028
			$	32,028
Thrifts & Mortgage Finance — 0.4%
Brookline Bancorp, Inc.		2,934	$	23,589
Northwest Bancshares, Inc.		2,496		31,000
Oritani Financial Corp.		1,744		22,690

6

Security	Shares		Value
Provident Financial Services, Inc.		1,835	$	24,020
			$	101,299
Tobacco — 1.4%
Altria Group, Inc.		1,612	$	46,248
British American Tobacco PLC		1,249		57,962
Imperial Tobacco Group PLC		884		31,804
Japan Tobacco, Inc.		6		28,793
Lorillard, Inc.		630		70,321
Philip Morris International, Inc.		1,184		90,268
Reynolds American, Inc.		1,268		53,078
			$	378,474
Trading Companies & Distributors — 0.1%
Mitsubishi Corp.		1,300	$	26,876
			$	26,876
Wireless Telecommunication Services — 1.0%
American Tower Corp., Class A(1)		779	$	45,961
China Mobile, Ltd.		4,000		39,497
Crown Castle International Corp.(1)		947		40,077
Softbank Corp.		900		30,397
VimpelCom, Ltd. ADR		4,755		56,680
Vodafone Group PLC		25,744		69,692
			$	282,304
Total Common Stocks (identified cost $9,634,994)			$	10,374,627

U.S. Treasury Obligations — 30.9%

	Principal
	Amount
Security	(000’s omitted)		Value
U.S. Treasury Bond, 3.50%, 2/15/39	$	81	$	88,092
U.S. Treasury Bond, 3.75%, 8/15/41		77		87,941
U.S. Treasury Bond, 3.875%, 8/15/40		76		87,952
U.S. Treasury Bond, 4.25%, 5/15/39		71		88,034
U.S. Treasury Bond, 4.25%, 11/15/40		71		87,921
U.S. Treasury Bond, 4.375%, 2/15/38		70		88,112
U.S. Treasury Bond, 4.375%, 11/15/39		70		87,943
U.S. Treasury Bond, 4.375%, 5/15/40		70		87,872
U.S. Treasury Bond, 4.375%, 5/15/41		70		87,805
U.S. Treasury Bond, 4.50%, 2/15/36		69		87,887
U.S. Treasury Bond, 4.50%, 5/15/38		69		88,064
U.S. Treasury Bond, 4.50%, 8/15/39		69		87,915
U.S. Treasury Bond, 4.625%, 2/15/40		67		87,874
U.S. Treasury Bond, 4.75%, 2/15/37		67		87,943
U.S. Treasury Bond, 4.75%, 2/15/41		66		87,874
U.S. Treasury Bond, 5.00%, 5/15/37		64		87,874
U.S. Treasury Bond, 7.875%, 2/15/21		213		320,912
U.S. Treasury Bond, 8.125%, 5/15/21		209		320,527
U.S. Treasury Bond, 8.125%, 8/15/21		207		320,692
U.S. Treasury Bond, 8.75%, 5/15/20		207		320,960
U.S. Treasury Bond, 8.75%, 8/15/20		205		320,761
U.S. Treasury Note, 0.50%, 5/31/13		48		48,409
U.S. Treasury Note, 0.625%, 7/15/14		48		48,446
U.S. Treasury Note, 0.75%, 3/31/13		48		48,362
U.S. Treasury Note, 0.75%, 12/15/13		48		48,368
U.S. Treasury Note, 0.75%, 6/15/14		48		48,394
U.S. Treasury Note, 1.00%, 7/15/13		48		48,296
U.S. Treasury Note, 1.00%, 5/15/14		48		48,381

7

	Principal
	Amount
Security	(000’s omitted)		Value
U.S. Treasury Note, 1.00%, 8/31/16	$	26	$	26,528
U.S. Treasury Note, 1.25%, 2/15/14		47		48,396
U.S. Treasury Note, 1.25%, 9/30/15		26		26,511
U.S. Treasury Note, 1.50%, 6/30/16		26		26,548
U.S. Treasury Note, 1.50%, 8/31/18		26		26,443
U.S. Treasury Note, 1.75%, 3/31/14		47		48,372
U.S. Treasury Note, 1.75%, 7/31/15		25		26,470
U.S. Treasury Note, 1.875%, 6/30/15		25		26,470
U.S. Treasury Note, 2.00%, 1/31/16		25		26,523
U.S. Treasury Note, 2.125%, 5/31/15		25		26,477
U.S. Treasury Note, 2.125%, 2/29/16		25		26,555
U.S. Treasury Note, 2.125%, 8/15/21		320		321,447
U.S. Treasury Note, 2.375%, 8/31/14		71		74,655
U.S. Treasury Note, 2.375%, 9/30/14		25		26,395
U.S. Treasury Note, 2.375%, 10/31/14		25		26,432
U.S. Treasury Note, 2.375%, 7/31/17		25		26,449
U.S. Treasury Note, 2.375%, 5/31/18		25		26,400
U.S. Treasury Note, 2.50%, 4/30/15		25		26,464
U.S. Treasury Note, 2.625%, 7/31/14		71		74,724
U.S. Treasury Note, 2.625%, 12/31/14		25		26,460
U.S. Treasury Note, 2.625%, 4/30/16		25		26,449
U.S. Treasury Note, 2.625%, 1/31/18		25		26,443
U.S. Treasury Note, 2.625%, 8/15/20		303		321,651
U.S. Treasury Note, 2.625%, 11/15/20		304		321,493
U.S. Treasury Note, 2.75%, 11/30/16		24		26,508
U.S. Treasury Note, 2.75%, 5/31/17		24		26,422
U.S. Treasury Note, 2.75%, 12/31/17		24		26,417
U.S. Treasury Note, 2.75%, 2/28/18		24		26,407
U.S. Treasury Note, 2.75%, 2/15/19		298		322,514
U.S. Treasury Note, 2.875%, 3/31/18		24		26,473
U.S. Treasury Note, 3.125%, 10/31/16		24		26,507
U.S. Treasury Note, 3.125%, 4/30/17		24		26,466
U.S. Treasury Note, 3.125%, 5/15/19		291		322,410
U.S. Treasury Note, 3.125%, 5/15/21		293		321,142
U.S. Treasury Note, 3.25%, 6/30/16		24		26,510
U.S. Treasury Note, 3.25%, 7/31/16		24		26,520
U.S. Treasury Note, 3.25%, 12/31/16		24		26,451
U.S. Treasury Note, 3.375%, 11/15/19		286		321,976
U.S. Treasury Note, 3.50%, 5/31/13		46		48,150
U.S. Treasury Note, 3.50%, 5/15/20		284		321,534
U.S. Treasury Note, 3.625%, 8/15/19		282		322,049
U.S. Treasury Note, 3.625%, 2/15/20		281		321,807
U.S. Treasury Note, 3.625%, 2/15/21		281		321,078
U.S. Treasury Note, 3.75%, 11/15/18		280		322,301
U.S. Treasury Note, 4.00%, 2/15/15		24		26,353
U.S. Treasury Note, 4.25%, 11/15/14		24		26,372
U.S. Treasury Note, 4.25%, 8/15/15		23		26,429
U.S. Treasury Note, 4.50%, 2/15/16		23		26,473
U.S. Treasury Note, 4.50%, 5/15/17		22		26,443
U.S. Treasury Note, 5.125%, 5/15/16		22		26,416
Total U.S. Treasury Obligations (identified cost $8,448,867)			$	8,378,494

8

Exchange-Traded Funds — 20.5%

Security	Shares		Value
iShares iBoxx $ High Yield Corporate Bond Fund		13,478	$	1,167,195
iShares iBoxx $ Investment Grade Corporate Bond Fund		9,760		1,080,334
iShares S&P National AMT-Free Municipal Bond Fund		12,825		1,361,630
SPDR Barclays Capital High Yield Bond ETF		30,842		1,168,295
SPDR Barclays Capital International Treasury Bond ETF		12,891		762,374
Total Exchange-Traded Funds (identified cost $5,471,678)			$	5,539,828

Short-Term Investments — 10.1%

	Interest
Description	(000’s omitted)		Value
Eaton Vance Cash Reserves Fund, LLC, 0.07%(2)	$	2,731	$	2,731,451
Total Short-Term Investments (identified cost $2,731,451)			$	2,731,451
Total Investments — 99.8% (identified cost $26,286,990)			$	27,024,400
Other Assets, Less Liabilities — 0.2%			$	46,409
Net Assets — 100.0%			$	27,070,809

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

ADR	-	American Depositary Receipt
PC	-	Participation Certificate
(1)		Non-income producing security.
(2)		Affiliated investment company available to Eaton Vance portfolios and funds which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of November 30, 2011. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the period from the start of business, September 30, 2011, to November 30, 2011 was $310.

The Fund is a diversified series of Eaton Vance Growth Trust (the Trust). The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The Fund’s investment objective is to seek total return. The Fund commenced operations on September 30, 2011.

Equity securities (including common shares of closed-end investment companies) listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices therefore on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select Market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that will use various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events. Debt obligations (including short-term obligations with a remaining maturity of more than sixty days) are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker/dealer quotations, prices or yields of securities with similar characteristics, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term obligations purchased with a remaining maturity of sixty days or less are generally valued at amortized cost, which approximates market value. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Fund’s Trustees have approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities.

9

Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Fund in a manner that fairly reflects the security’s value, or the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial condition, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

The Fund may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management. Cash Reserves Fund generally values its investment securities utilizing the amortized cost valuation technique in accordance with Rule 2a-7 under the 1940 Act. This technique involves initially valuing a portfolio security at its cost and thereafter assuming a constant amortization to maturity of any discount or premium. If amortized cost is determined not to approximate fair value, Cash Reserves Fund may value its investment securities in the same manner as debt obligations described above.

Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

The Fund did not have any open financial instruments at November 30, 2011.

The cost and unrealized appreciation (depreciation) of investments of the Fund at November 30, 2011, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	26,286,989
Gross unrealized appreciation	$	933,681
Gross unrealized depreciation		(196,270	)
Net unrealized appreciation	$	737,411

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•   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)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

10

At November 30, 2011, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2			Level 3		Total
Common Stocks
Consumer Discretionary	$	568,116	$	104,486		$	—	$	672,602
Consumer Staples		1,401,864		635,576			—		2,037,440
Energy		698,592		100,469			—		799,061
Financials		576,995		—			—		576,995
Health Care		1,791,847		606,027			—		2,397,874
Industrials		475,949		76,857			—		552,806
Information Technology		939,456		141,343			—		1,080,799
Materials		184,830		149,488			—		334,318
Telecommunication Services		332,108		257,522			—		589,630
Utilities		1,096,324		236,778			—		1,333,102
Total Common Stocks	$	8,066,081	$	2,308,546	*	$	—	$	10,374,627
U.S. Treasury Obligations	$	—	$	8,378,494		$	—	$	8,378,494
Exchange-Traded Funds		5,539,828		—			—		5,539,828
Short-Term Investments		—		2,731,451			—		2,731,451
Total Investments	$	13,605,909	$	13,418,491		$	—	$	27,024,400

* Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

11

Item 2. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Eaton Vance Growth Trust

By:	/s/ Duncan W. Richardson Duncan W. Richardson
	President
Date:	January 25, 2012

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ Duncan W. Richardson Duncan W. Richardson
	President
Date:	January 25, 2012
By:	/s/ Barbara E. Campbell Barbara E. Campbell
	Treasurer
Date:	January 25, 2012