N-Q 1 d49621dnq.htm EATON VANCE GROWTH TRUST Eaton Vance Growth Trust

 

 

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)

February 28

Date of Fiscal Year End

May 31, 2015

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance Focused Growth Opportunities Fund

Eaton Vance Focused Value Opportunities Fund

Eaton Vance Global Natural Resources Fund

Eaton Vance

Focused Growth Opportunities Fund

May 31, 2015

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 95.4%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 4.3%

      

Spirit AeroSystems Holdings, Inc., Class A(1)

      36,931       $ 2,016,063   

United Technologies Corp.

      17,532         2,054,225   
     

 

 

  
      $ 4,070,288   
     

 

 

  

Banks — 3.0%

      

Citigroup, Inc.

      51,788       $ 2,800,695   
     

 

 

  
      $ 2,800,695   
     

 

 

  

Biotechnology — 6.3%

      

Biogen, Inc.(1)

      7,545       $ 2,995,289   

Celgene Corp.(1)

      25,613         2,931,152   
     

 

 

  
      $ 5,926,441   
     

 

 

  

Chemicals — 2.5%

      

Monsanto Co.

      19,816       $ 2,318,076   
     

 

 

  
      $ 2,318,076   
     

 

 

  

Communications Equipment — 1.7%

      

Palo Alto Networks, Inc.(1)

      9,700       $ 1,644,053   
     

 

 

  
      $ 1,644,053   
     

 

 

  

Diversified Financial Services — 2.9%

      

McGraw Hill Financial, Inc.

      26,502       $ 2,749,582   
     

 

 

  
      $ 2,749,582   
     

 

 

  

Electrical Equipment — 2.0%

      

Eaton Corp. PLC

      25,980       $ 1,859,908   
     

 

 

  
      $ 1,859,908   
     

 

 

  

Food & Staples Retailing — 2.2%

      

Sprouts Farmers Market, Inc.(1)

      68,506       $ 2,054,495   
     

 

 

  
      $ 2,054,495   
     

 

 

  

Food Products — 2.1%

      

Mondelez International, Inc., Class A

      47,956       $ 1,994,490   
     

 

 

  
      $ 1,994,490   
     

 

 

  

Health Care Equipment & Supplies — 4.8%

      

Cooper Cos., Inc. (The)

      10,435       $ 1,896,770   

Medtronic PLC

      34,559         2,637,543   
     

 

 

  
      $ 4,534,313   
     

 

 

  

Internet & Catalog Retail — 7.7%

      

Amazon.com, Inc.(1)

      8,429       $ 3,617,980   

Priceline Group, Inc. (The)(1)

      3,114         3,649,732   
     

 

 

  
      $ 7,267,712   
     

 

 

  

Internet Software & Services — 10.7%

      

Facebook, Inc., Class A(1)

      45,519       $ 3,604,650   

Google, Inc., Class C(1)

      9,339         4,969,375   

Twitter, Inc.(1)

      40,281         1,477,104   
     

 

 

  
      $ 10,051,129   
     

 

 

  

IT Services — 2.7%

      

Visa, Inc., Class A

      37,233       $ 2,557,162   
     

 

 

  
      $ 2,557,162   
     

 

 

  

Media — 2.1%

      

Walt Disney Co. (The)

      17,937       $ 1,979,707   
     

 

 

  
      $ 1,979,707   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Multiline Retail — 2.7%

      

Dollar General Corp.

      35,035       $ 2,543,191   
     

 

 

  
      $ 2,543,191   
     

 

 

  

Oil, Gas & Consumable Fuels — 0.6%

      

EOG Resources, Inc.

      6,398       $ 567,439   
     

 

 

  
      $ 567,439   
     

 

 

  

Personal Products — 2.0%

      

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

      21,684       $ 1,895,832   
     

 

 

  
      $ 1,895,832   
     

 

 

  

Pharmaceuticals — 7.6%

      

AbbVie, Inc.

      29,697       $ 1,977,523   

Bristol-Myers Squibb Co.

      38,924         2,514,490   

Perrigo Co. PLC

      14,305         2,722,242   
     

 

 

  
      $ 7,214,255   
     

 

 

  

Road & Rail — 4.0%

      

Genesee & Wyoming, Inc., Class A(1)

      19,900       $ 1,638,566   

Union Pacific Corp.

      21,347         2,154,126   
     

 

 

  
      $ 3,792,692   
     

 

 

  

Semiconductors & Semiconductor Equipment — 5.3%

      

Avago Technologies, Ltd.

      20,126       $ 2,980,057   

NXP Semiconductors NV(1)

      17,890         2,008,152   
     

 

 

  
      $ 4,988,209   
     

 

 

  

Software — 5.2%

      

salesforce.com, inc.(1)

      26,958       $ 1,961,195   

Tableau Software, Inc., Class A(1)

      25,596         2,897,723   
     

 

 

  
      $ 4,858,918   
     

 

 

  

Specialty Retail — 6.6%

      

Restoration Hardware Holdings, Inc.(1)

      20,619       $ 1,875,504   

Signet Jewelers, Ltd.

      17,883         2,312,809   

TJX Cos., Inc. (The)

      32,355         2,083,015   
     

 

 

  
      $ 6,271,328   
     

 

 

  

Technology Hardware, Storage & Peripherals — 6.4%

      

Apple, Inc.

      46,511       $ 6,059,453   
     

 

 

  
      $ 6,059,453   
     

 

 

  

Total Common Stocks
(identified cost $80,914,010)

       $ 89,999,368   
     

 

 

  

Short-Term Investments — 3.8%

      
Description    Interest
(000’s omitted)		      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.18%(2)

    $ 3,566       $ 3,566,306   
     

 

 

  

Total Short-Term Investments
(identified cost $3,566,306)

       $ 3,566,306   
     

 

 

  

Total Investments — 99.2%
(identified cost $84,480,316)

       $ 93,565,674   
     

 

 

  

Other Assets, Less Liabilities — 0.8%

       $ 800,614   
     

 

 

  

Net Assets — 100.0%

       $ 94,366,288   
     

 

 

  

 

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 May 31, 2015. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended May 31, 2015 was $1,340.

The Fund did not have any open financial instruments at May 31, 2015.

The cost and unrealized appreciation (depreciation) of investments of the Fund at May 31, 2015, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $     84,482,639   
  

 

 

  

Gross unrealized appreciation

    $ 9,829,256   

Gross unrealized depreciation

      (746,221 ) 
  

 

 

  

Net unrealized appreciation

    $ 9,083,035   
  

 

 

  

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 May 31, 2015, 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

    $ 89,999,368 *     $ —       $ —       $ 89,999,368   

Short-Term Investments

      —         3,566,306         —         3,566,306   

Total Investments

    $     89,999,368       $     3,566,306       $ —       $     93,565,674   

 

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

The Fund held no investments or other financial instruments as of February 28, 2015 whose fair value was determined using Level 3 inputs. At May 31, 2015, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.

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.

 

3

 

 

Eaton Vance

Focused Value Opportunities Fund

May 31, 2015

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 97.9%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 3.1%

      

United Technologies Corp.

      14,029       $ 1,643,778   
     

 

 

  
      $ 1,643,778   
     

 

 

  

Air Freight & Logistics — 3.0%

      

C.H. Robinson Worldwide, Inc.

      26,343       $ 1,626,153   
     

 

 

  
      $ 1,626,153   
     

 

 

  

Banks — 13.9%

      

Citigroup, Inc.

      41,634       $ 2,251,566   

JPMorgan Chase & Co.

      41,542         2,732,633   

Wells Fargo & Co.

      44,149         2,470,578   
     

 

 

  
      $ 7,454,777   
     

 

 

  

Capital Markets — 5.8%

      

Credit Suisse Group AG

      61,533       $ 1,632,180   

Invesco, Ltd.

      38,036         1,514,974   
     

 

 

  
      $ 3,147,154   
     

 

 

  

Chemicals — 2.8%

      

Monsanto Co.

      12,716       $ 1,487,518   
     

 

 

  
      $ 1,487,518   
     

 

 

  

Communications Equipment — 3.2%

      

QUALCOMM, Inc.

      24,937       $ 1,737,610   
     

 

 

  
      $ 1,737,610   
     

 

 

  

Diversified Telecommunication Services — 2.0%

      

Verizon Communications, Inc.

      21,855       $ 1,080,511   
     

 

 

  
      $ 1,080,511   
     

 

 

  

Electric Utilities — 2.8%

      

NextEra Energy, Inc.

      14,834       $ 1,518,112   
     

 

 

  
      $ 1,518,112   
     

 

 

  

Food & Staples Retailing — 5.5%

      

CVS Health Corp.

      14,789       $ 1,514,098   

Kroger Co. (The)

      19,507         1,420,109   
     

 

 

  
      $ 2,934,207   
     

 

 

  

Health Care Equipment & Supplies — 2.9%

      

Medtronic PLC

      20,595       $ 1,571,810   
     

 

 

  
      $ 1,571,810   
     

 

 

  

Industrial Conglomerates — 3.8%

      

General Electric Co.

      74,812       $ 2,040,123   
     

 

 

  
      $ 2,040,123   
     

 

 

  

Insurance — 6.0%

      

Aflac, Inc.

      24,569       $ 1,528,683   

XL Group PLC

      44,980         1,694,847   
     

 

 

  
      $ 3,223,530   
     

 

 

  

Life Sciences Tools & Services — 1.9%

      

Thermo Fisher Scientific, Inc.

      7,837       $ 1,015,910   
     

 

 

  
      $ 1,015,910   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Media — 3.0%

      

CBS Corp., Class B

      26,061       $ 1,608,485   
     

 

 

  
      $ 1,608,485   
     

 

 

  

Multi-Utilities — 2.8%

      

Sempra Energy

      14,157       $ 1,521,453   
     

 

 

  
      $ 1,521,453   
     

 

 

  

Oil, Gas & Consumable Fuels — 9.5%

      

Anadarko Petroleum Corp.

      9,077       $ 758,928   

Exxon Mobil Corp.

      24,885         2,120,202   

Occidental Petroleum Corp.

      15,653         1,223,908   

Phillips 66

      12,985         1,027,373   
     

 

 

  
      $ 5,130,411   
     

 

 

  

Pharmaceuticals — 10.9%

      

Eli Lilly & Co.

      18,158       $ 1,432,666   

Merck & Co., Inc.

      30,519         1,858,302   

Roche Holding AG PC

      4,659         1,420,395   

Teva Pharmaceutical Industries, Ltd. ADR

      19,567         1,175,977   
     

 

 

  
      $ 5,887,340   
     

 

 

  

Real Estate Investment Trusts (REITs) — 2.7%

      

Equity Residential

      19,535       $ 1,451,841   
     

 

 

  
      $ 1,451,841   
     

 

 

  

Software — 5.7%

      

Microsoft Corp.

      34,935       $ 1,637,054   

Oracle Corp.

      32,944         1,432,735   
     

 

 

  
      $ 3,069,789   
     

 

 

  

Specialty Retail — 3.0%

      

Home Depot, Inc. (The)

      14,423       $ 1,607,011   
     

 

 

  
      $ 1,607,011   
     

 

 

  

Tobacco — 3.6%

      

Reynolds American, Inc.

      25,324       $ 1,943,617   
     

 

 

  
      $ 1,943,617   
     

 

 

  

Total Common Stocks
(identified cost $50,065,413)

       $ 52,701,140   
     

 

 

  

Short-Term Investments — 1.8%

      
Description    Interest
(000’s omitted)		      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.18%(1)

    $ 957       $ 956,605   
     

 

 

  

Total Short-Term Investments
(identified cost $956,605)

       $ 956,605   
     

 

 

  

Total Investments — 99.7%
(identified cost $51,022,018)

       $ 53,657,745   
     

 

 

  

Other Assets, Less Liabilities — 0.3%

       $ 160,914   
     

 

 

  

Net Assets — 100.0%

       $ 53,818,659   
     

 

 

  

 

2

 

 

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) 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 May 31, 2015. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended May 31, 2015 was $404.

The Fund did not have any open financial instruments at May 31, 2015.

The cost and unrealized appreciation (depreciation) of investments of the Fund at May 31, 2015, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $     51,080,721   
  

 

 

  

Gross unrealized appreciation

    $ 3,316,647   

Gross unrealized depreciation

      (739,623 ) 
  

 

 

  

Net unrealized appreciation

    $ 2,577,024   
  

 

 

  

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 May 31, 2015, 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

    $ 3,215,496       $ —       $ —       $ 3,215,496   

Consumer Staples

      4,877,824         —         —         4,877,824   

Energy

      5,130,411         —         —         5,130,411   

Financials

      13,645,122         1,632,180         —         15,277,302   

Health Care

      7,054,665         1,420,395         —         8,475,060   

Industrials

      5,310,054         —         —         5,310,054   

Information Technology

      4,807,399         —         —         4,807,399   

Materials

      1,487,518         —         —         1,487,518   

Telecommunication Services

      1,080,511         —         —         1,080,511   

Utilities

      3,039,565         —         —         3,039,565   

Total Common Stocks

    $ 49,648,565       $ 3,052,575 *     $ —       $ 52,701,140   

Short-Term Investments

    $ —       $ 956,605       $ —       $ 956,605   

Total Investments

    $     49,648,565       $     4,009,180       $ —       $     53,657,745   

 

* 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 February 28, 2015 whose fair value was determined using Level 3 inputs. At May 31, 2015, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.

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.

 

3

 

 

Eaton Vance

Global Natural Resources Fund

May 31, 2015

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 91.2%

 

                                                 
Security    Shares      Value  

Energy — 53.4%

      

Energy Equipment & Services — 8.5%

      

Halliburton Co.

      2,266       $ 102,876   

Schlumberger, Ltd.

      2,180         197,879   

Superior Energy Services, Inc.

      4,300         99,287   

Trican Well Service, Ltd.

      12,000         37,343   

Trinidad Drilling, Ltd.

      24,891         91,470   
     

 

 

  
      $ 528,855   
     

 

 

  

Oil, Gas & Consumable Fuels — 44.9%

      

Anadarko Petroleum Corp.

      1,600       $ 133,776   

ARC Resources, Ltd.

      5,400         98,916   

Cameco Corp.

      1,900         28,479   

Canadian Natural Resources, Ltd.

      1,000         30,862   

Chevron Corp.

      500         51,500   

Cimarex Energy Co.

      2,100         242,571   

Continental Resources, Inc.(1)

      1,400         63,784   

Crescent Point Energy Corp.

      6,300         142,758   

Devon Energy Corp.

      2,100         136,962   

Enbridge, Inc.

      2,300         110,006   

EOG Resources, Inc.

      700         62,083   

Exxon Mobil Corp.

      2,200         187,440   

Hess Corp.

      1,300         87,776   

Husky Energy, Inc.

      8,300         163,117   

Imperial Oil, Ltd.

      2,200         86,295   

Kinder Morgan, Inc.

      2,980         123,640   

Marathon Petroleum Corp.

      1,390         143,809   

Noble Energy, Inc.

      1,300         56,914   

NuVista Energy, Ltd.(1)

      11,100         68,728   

Oasis Petroleum, Inc.(1)

      2,100         35,658   

Oryx Petroleum Corp., Ltd.(1)

      9,752         31,289   

Raging River Exploration, Inc.(1)

      8,300         59,734   

Royal Dutch Shell PLC, Class A ADR

      1,500         89,580   

Seven Generations Energy, Ltd., Class A(1)

      2,391         32,108   

Storm Resources, Ltd.(1)

      20,400         76,935   

Suncor Energy, Inc.

      2,000         58,459   

Tourmaline Oil Corp.(1)

      1,000         32,317   

Valero Energy Corp.

      4,100         242,884   

Whiting Petroleum Corp.(1)

      3,204         105,700   
     

 

 

  
      $ 2,784,080   
     

 

 

  
      $ 3,312,935   
     

 

 

  

Materials — 37.8%

      

Chemicals — 15.7%

      

Eastman Chemical Co.

      1,662       $ 127,592   

Ecolab, Inc.

      800         91,720   

Huntsman Corp.

      6,500         145,860   

LyondellBasell Industries NV, Class A

      3,100         313,410   

Monsanto Co.

      2,500         292,450   
     

 

 

  
      $ 971,032   
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Metals & Mining — 17.4%

      

Agnico-Eagle Mines, Ltd.

      1,400       $ 45,053   

BHP Billiton PLC

      5,500         115,960   

Capstone Mining Corp.(1)

      42,300         41,157   

Eldorado Gold Corp.

      9,392         45,238   

First Quantum Minerals, Ltd.

      3,236         41,842   

Freeport-McMoRan, Inc.

      2,300         45,195   

Glencore PLC

      27,600         121,740   

Goldcorp, Inc.

      3,100         55,040   

Lundin Mining Corp.(1)

      9,400         42,556   

MMC Norilsk Nickel ADR

      6,236         109,869   

Outokumpu Oyj(1)

      18,825         102,751   

Randgold Resources, Ltd. ADR

      900         65,007   

Rio Tinto PLC

      1,000         43,734   

Royal Gold, Inc.

      1,100         71,247   

Silver Wheaton Corp.

      3,300         63,023   

South32, Ltd.(1)

      5,500         9,079   

Teck Resources, Ltd., Class B

      5,400         62,832   
     

 

 

  
      $ 1,081,323   
     

 

 

  

Paper & Forest Products — 4.7%

      

Canfor Corp.(1)

      6,200       $ 127,978   

West Fraser Timber Co., Ltd.

      3,000         165,439   
     

 

 

  
      $ 293,417   
     

 

 

  
      $ 2,345,772   
     

 

 

  

Total Common Stocks
(identified cost $6,676,465)

       $   5,658,707   
     

 

 

  

Short-Term Investments — 8.4%

      
Description    Interest
(000’s omitted)		      Value  

Eaton Vance Cash Reserves Fund, LLC, 0.18%(2)

    $ 523       $ 522,734   
     

 

 

  

Total Short-Term Investments
(identified cost $522,734)

       $ 522,734   
     

 

 

  

Total Investments — 99.6%
(identified cost $7,199,199)

       $ 6,181,441   
     

 

 

  

Other Assets, Less Liabilities — 0.4%

       $ 26,916   
     

 

 

  

Net Assets — 100.0%

       $ 6,208,357   
     

 

 

  

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 May 31, 2015. Net income allocated from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended May 31, 2015 was $225.

 

2

 

 

Country Concentration of Portfolio

 

                                                 
Country   

Percentage of

Net Assets

     Value  

United States

      59.4 %    $     3,684,747   

Canada

      29.6        1,838,974   

United Kingdom

      7.0        436,021   

Russia

      1.8        109,869   

Finland

      1.7        102,751   

Australia

      0.1        9,079   
  

 

 

    

 

 

  

Total Investments

      99.6 %    $ 6,181,441   
  

 

 

    

 

 

  

The Fund did not have any open financial instruments at May 31, 2015.

The cost and unrealized appreciation (depreciation) of investments of the Fund at May 31, 2015, as determined on a federal income tax basis, were as follows:

 

Aggregate cost

    $ 7,198,840   
  

 

 

  

Gross unrealized appreciation

    $ 309,247   

Gross unrealized depreciation

      (1,326,646 ) 
  

 

 

  

Net unrealized depreciation

    $     (1,017,399 ) 
  

 

 

  

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 May 31, 2015, 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            

Energy

    $ 3,312,935       $ —       $ —       $ 3,312,935   

Materials

      1,851,718         494,054         —         2,345,772   

Total Common Stocks

    $ 5,164,653       $ 494,054 *     $ —       $ 5,658,707   

Short-Term Investments

    $ —       $ 522,734       $ —       $ 522,734   

Total Investments

    $     5,164,653       $     1,016,788       $ —       $     6,181,441   

 

* 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 February 28, 2015 whose fair value was determined using Level 3 inputs. At May 31, 2015, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.

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.

 

 

3

 

 

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 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/ Payson F. Swaffield
  Payson F. Swaffield
  President
Date:   July 27, 2015

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/ Payson F. Swaffield
  Payson F. Swaffield
  President
Date:   July 27, 2015

 

By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   July 27, 2015