N-Q 1 d595631dnq.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)

November 30

Date of Fiscal Year End

February 28, 2019

Date of Reporting Period

 

 

 

Item 1. Schedule of Investments

Eaton Vance Focused Global Opportunities Fund

Eaton Vance Focused International Opportunities Fund

Eaton Vance International Small-Cap Fund

Eaton Vance

Focused Global Opportunities Fund

February 28, 2019

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 95.5%

 

                                                 
Security    Shares      Value  

Denmark — 1.9%

      

Novo Nordisk A/S, Class B

      1,790      $ 87,756  
     

 

 

  
      $ 87,756  
     

 

 

  

France — 1.9%

      

LVMH Moet Hennessy Louis Vuitton SE

      255      $ 87,513  
     

 

 

  
      $ 87,513  
     

 

 

  

Germany — 2.1%

      

adidas AG

      389      $ 94,429  
     

 

 

  
      $ 94,429  
     

 

 

  

Hong Kong — 3.6%

      

AIA Group, Ltd.

      11,111      $ 110,892  

Samsonite International SA(1)

      18,596        55,263  
     

 

 

  
      $ 166,155  
     

 

 

  

Japan — 6.2%

      

Keyence Corp.

      180      $ 105,258  

MISUMI Group, Inc.

      3,277        79,713  

ORIX Corp.

      7,000        101,350  
     

 

 

  
      $ 286,321  
     

 

 

  

Netherlands — 4.4%

      

ASML Holding NV

      558      $ 102,079  

ING Groep NV

      7,416        98,025  
     

 

 

  
      $ 200,104  
     

 

 

  

Spain — 2.5%

      

Industria de Diseno Textil SA

      3,783      $ 114,194  
     

 

 

  
      $ 114,194  
     

 

 

  

Sweden — 3.4%

      

Assa Abloy AB, Class B

      4,424      $ 91,436  

Atlas Copco AB, Class B

      2,484        62,334  
     

 

 

  
      $ 153,770  
     

 

 

  

United Kingdom — 13.3%

      

Aviva PLC

      18,076      $ 101,326  

Diageo PLC

      3,779        146,339  

Melrose Industries PLC

      51,047        117,696  

Prudential PLC

      5,317        112,101  

Unilever PLC

      2,525        134,425  
     

 

 

  
      $ 611,887  
     

 

 

  

United States — 56.2%

      

Activision Blizzard, Inc.

      1,602      $ 67,508  

Alphabet, Inc., Class A(2)

      163        183,628  

Amazon.com, Inc.(2)

      116        190,220  

Baxter International, Inc.

      1,895        141,613  

 

1

 

 

                                                 
Security    Shares      Value  

Boston Scientific Corp.(2)

      2,579      $ 103,470  

CDW Corp.

      681        63,939  

Coca-Cola Co. (The)

      2,395        108,589  

Ecolab, Inc.

      902        152,357  

Eli Lilly & Co.

      846        106,841  

EOG Resources, Inc.

      1,423        133,762  

HP, Inc.

      2,385        47,056  

Microsoft Corp.

      1,742        195,156  

NextEra Energy, Inc.

      894        167,822  

Phillips 66

      1,547        149,069  

Verisk Analytics, Inc.(2)

      882        111,511  

Visa, Inc., Class A

      815        120,718  

Walt Disney Co. (The)

      1,084        122,319  

Wells Fargo & Co.

      2,665        132,957  

Xylem, Inc.

      2,377        179,583  

Zoetis, Inc.

      1,140        107,422  
     

 

 

  
      $ 2,585,540  
     

 

 

  

Total Common Stocks
(identified cost $3,980,906)

       $ 4,387,669  
     

 

 

  

Exchange-Traded Funds — 1.9%

      
Security    Shares      Value  

SPDR S&P 500 ETF Trust

      315      $ 87,784  
     

 

 

  

Total Exchange-Traded Funds
(identified cost $86,238)

       $ 87,784  
     

 

 

  

Short-Term Investments — 0.4%

      
Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 2.62%(3)

      19,230      $ 19,232  
     

 

 

  

Total Short-Term Investments
(identified cost $19,232)

       $ 19,232  
     

 

 

  

Total Investments — 97.8%
(identified cost $4,086,376)

       $ 4,494,685  
     

 

 

  

Other Assets, Less Liabilities — 2.2%

       $ 102,550  
     

 

 

  

Net Assets — 100.0%

       $ 4,597,235  
     

 

 

  

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

 

(1)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At February 28, 2019, the aggregate value of these securities is $55,263 or 1.2% of the Fund’s net assets.

 

(2)

Non-income producing security.

 

2

 

 

(3)

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 February 28, 2019. Net income from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended February 28, 2019 was $345.

Sector Classification of Portfolio

 

                                                 
Sector    Percentage of
Net Assets		     Value  

Financials

      14.3 %    $ 656,651  

Industrials

      14.0       642,273  

Information Technology

      13.8       634,206  

Health Care

      11.9       547,102  

Consumer Discretionary

      11.8       541,619  

Consumer Staples

      8.5       389,353  

Communication Services

      8.1       373,455  

Energy

      6.2       282,831  

Utilities

      3.6       167,822  

Materials

      3.3       152,357  

Exchange-Traded Funds

      1.9       87,784  

Short-Term Investments

      0.4       19,232  
  

 

 

    

 

 

  

Total Investments

      97.8 %    $     4,494,685  
  

 

 

    

 

 

  

The Fund did not have any open derivative instruments at February 28, 2019.

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 February 28, 2019, 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

            

Asia/Pacific

    $ —      $ 452,476      $ —      $ 452,476  

Developed Europe

      —        1,349,653        —        1,349,653  

North America

      2,585,540        —        —        2,585,540  

Total Common Stocks

    $ 2,585,540      $ 1,802,129 *     $ —      $ 4,387,669  

Exchange-Traded Funds

    $ 87,784      $ —      $ —      $ 87,784  

Short-Term Investments

      —        19,232        —        19,232  

Total Investments

    $     2,673,324      $     1,821,361      $ —      $     4,494,685  

 

*

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.

 

3

 

 

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.

 

4

 

 

Eaton Vance

Focused International Opportunities Fund

February 28, 2019

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 96.7%

 

                                                 
Security    Shares      Value  

Canada — 5.5%

 

CAE, Inc.

      5,556      $ 117,162  

Canadian Imperial Bank of Commerce

      1,230        104,339  
     

 

 

  
   $ 221,501  
     

 

 

  

Denmark — 6.8%

 

Coloplast A/S, Class B

      1,230      $ 122,665  

Novo Nordisk A/S, Class B

      3,122        153,058  
     

 

 

  
   $ 275,723  
     

 

 

  

France — 8.9%

 

Legrand SA

      1,491      $ 98,331  

LVMH Moet Hennessy Louis Vuitton SE

      536        183,949  

Societe Generale SA

      2,448        75,202  
     

 

 

  
   $ 357,482  
     

 

 

  

Germany — 3.2%

 

adidas AG

      533      $ 129,385  
     

 

 

  
   $ 129,385  
     

 

 

  

Hong Kong — 4.2%

 

AIA Group, Ltd.

      12,106      $ 120,822  

Samsonite International SA(1)

      16,725        49,703  
     

 

 

  
   $ 170,525  
     

 

 

  

Japan — 15.8%

 

Kao Corp.

      1,230      $ 93,256  

Keyence Corp.

      264        154,378  

MISUMI Group, Inc.

      4,053        98,589  

ORIX Corp.

      8,090        117,132  

Santen Pharmaceutical Co., Ltd.

      5,574        87,103  

Yamaha Corp.

      1,750        86,307  
     

 

 

  
   $ 636,765  
     

 

 

  

Netherlands — 6.8%

 

ASML Holding NV

      900      $ 164,643  

ING Groep NV

      8,278        109,419  
     

 

 

  
   $ 274,062  
     

 

 

  

Singapore — 1.7%

 

DBS Group Holdings, Ltd.

      3,849      $ 70,566  
     

 

 

  
   $ 70,566  
     

 

 

  

Spain — 8.7%

 

Iberdrola SA

      21,568      $ 180,448  

Industria de Diseno Textil SA

      5,659        170,823  
     

 

 

  
   $ 351,271  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Sweden — 6.4%

      

Assa Abloy AB, Class B

      7,136      $ 147,489  

Atlas Copco AB, Class B

      4,390        110,163  
     

 

 

  
      $ 257,652  
     

 

 

  

United Kingdom — 28.7%

      

Aviva PLC

      16,757      $ 93,932  

BP PLC

      32,781        232,395  

Compass Group PLC

      5,029        111,066  

Diageo PLC

      5,329        206,361  

GlaxoSmithKline PLC

      5,041        100,471  

Melrose Industries PLC

      53,696        123,804  

Prudential PLC

      4,819        101,601  

Unilever PLC

      3,500        186,332  
     

 

 

  
      $ 1,155,962  
     

 

 

  

Total Common Stocks
(identified cost $3,605,795)

       $ 3,900,894  
     

 

 

  

Exchange-Traded Funds — 2.9%

      
Security    Shares      Value  

Equity Funds — 2.9%

      

iShares MSCI Japan ETF

      2,130      $ 115,787  
     

 

 

  

Total Exchange-Traded Funds
(identified cost $115,575)

       $ 115,787  
     

 

 

  

Short-Term Investments — 0.5%

      
Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 2.62%(2)

      18,618      $ 18,620  
     

 

 

  

Total Short-Term Investments
(identified cost $18,620)

       $ 18,620  
     

 

 

  

Total Investments — 100.1%
(identified cost $3,739,990)

       $ 4,035,301  
     

 

 

  

Other Assets, Less Liabilities — (0.1)%

       $ (2,101 ) 
     

 

 

  

Net Assets — 100.0%

       $ 4,033,200  
     

 

 

  

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

 

(1)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At February 28, 2019, the aggregate value of these securities is $49,703 or 1.2% of the Fund’s net assets.

 

(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 February 28, 2019. Net income from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended February 28, 2019 was $368.

 

2

 

 

Sector Classification of Portfolio

 

                                                 
Sector    Percentage of
Net Assets		     Value  

Financials

      19.7 %    $ 793,013  

Consumer Discretionary

      18.1       731,233  

Industrials

      17.2       695,538  

Consumer Staples

      12.0       485,949  

Health Care

      11.5       463,297  

Information Technology

      7.9       319,021  

Energy

      5.8       232,395  

Utilities

      4.5       180,448  

Exchange-Traded Funds

      2.9       115,787  

Short-Term Investments

      0.5       18,620  
  

 

 

    

 

 

  

Total Investments

      100.1 %    $ 4,035,301  
  

 

 

    

 

 

  

The Fund did not have any open derivative instruments at February 28, 2019.

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 February 28, 2019, 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

            

Asia/Pacific

    $ —      $ 877,856      $ —      $ 877,856  

Developed Europe

      —        2,801,537        —        2,801,537  

North America

      221,501        —        —        221,501  

Total Common Stocks

    $ 221,501      $ 3,679,393 *     $ —      $ 3,900,894  

Exchange-Traded Funds

    $ 115,787      $ —      $ —      $ 115,787  

Short-Term Investments

      —        18,620        —        18,620  

Total Investments

    $     337,288      $     3,698,013      $     —      $     4,035,301  

 

*

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.

 

3

 

 

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.

Subsequent Event

All of the Fund’s outstanding shares were redeemed and the Fund was liquidated on March 11, 2019, pursuant to a Plan of Liquidation and Termination that was approved by the Fund’s Trustees on February 6, 2019.

 

4

 

 

Eaton Vance

International Small-Cap Fund

February 28, 2019

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 98.0%

 

                                                 
Security    Shares      Value  

Australia — 5.0%

      

Bapcor, Ltd.

      53,172      $ 227,777  

Bravura Solutions, Ltd.(1)

      68,859        250,069  

Challenger, Ltd.

      29,625        168,940  

Evolution Mining, Ltd.

      54,735        139,548  

GDI Property Group

      391,776        390,486  

National Storage REIT

      188,129        234,822  

Nine Entertainment Co. Holdings, Ltd.

      177,945        215,525  

Northern Star Resources, Ltd.

      20,887        136,873  

OZ Minerals, Ltd.

      14,465        105,361  

Regis Resources, Ltd.

      29,531        111,583  

Saracen Mineral Holdings, Ltd.(1)

      46,135        84,283  
     

 

 

  
      $ 2,065,267  
     

 

 

  

Austria — 0.9%

      

ams AG

      2,706      $ 83,703  

CA Immobilien Anlagen AG

      8,054        272,291  
     

 

 

  
      $ 355,994  
     

 

 

  

Belgium — 1.4%

      

Kinepolis Group NV

      7,171      $ 403,542  

Melexis NV

      2,611        172,028  
     

 

 

  
      $ 575,570  
     

 

 

  

Canada — 9.6%

      

Allied Properties REIT

      7,190      $ 262,314  

Boyd Group Income Fund

      1,923        178,074  

CAE, Inc.

      26,795        565,038  

Canadian Apartment Properties REIT

      7,747        295,822  

CES Energy Solutions Corp.

      89,682        215,354  

Detour Gold Corp.(1)

      10,559        106,878  

Encana Corp.

      16,877        123,889  

Kinaxis, Inc.(1)

      5,587        351,239  

Kirkland Lake Gold, Ltd.

      5,995        219,218  

Laurentian Bank of Canada

      10,850        334,087  

Linamar Corp.

      4,677        183,924  

Lundin Mining Corp.

      12,255        62,208  

North West Co., Inc. (The)

      12,577        307,173  

Pan American Silver Corp.

      5,713        76,321  

Quebecor, Inc., Class B

      22,707        551,649  

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

      23,341        170,630  
     

 

 

  
      $ 4,003,818  
     

 

 

  

China — 1.0%

      

CITIC Telecom International Holdings, Ltd.

      505,031      $ 187,809  

Yanlord Land Group, Ltd.

      224,442        230,317  
     

 

 

  
      $ 418,126  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Denmark — 0.7%

      

Topdanmark A/S

      6,279      $ 309,651  
     

 

 

  
      $ 309,651  
     

 

 

  

France — 2.1%

      

Lagardere SCA

      8,310      $ 214,825  

Nexity SA

      4,472        218,117  

Rubis SCA

      7,331        433,722  
     

 

 

  
      $ 866,664  
     

 

 

  

Germany — 6.6%

      

Axel Springer SE

      4,669      $ 266,575  

Bechtle AG

      2,900        248,711  

Brenntag AG

      9,383        465,865  

Carl Zeiss Meditec AG

      2,764        235,724  

Freenet AG

      6,154        129,443  

Fuchs Petrolub SE

      7,492        305,153  

LEG Immobilien AG

      2,513        280,190  

Norma Group SE

      7,796        418,403  

Rational AG

      515        337,842  

Salzgitter AG

      2,212        67,600  
     

 

 

  
      $ 2,755,506  
     

 

 

  

Hong Kong — 1.6%

      

Hysan Development Co., Ltd.

      92,968      $ 490,938  

Samsonite International SA(2)

      57,128        169,773  
     

 

 

  
      $ 660,711  
     

 

 

  

Ireland — 1.5%

      

Green REIT PLC

      155,589      $ 261,417  

UDG Healthcare PLC

      47,224        361,911  
     

 

 

  
      $ 623,328  
     

 

 

  

Italy — 4.7%

      

Amplifon SpA

      17,773      $ 330,273  

Banca Generali SpA

      9,654        240,881  

DiaSorin SpA

      3,931        385,082  

FinecoBank Banca Fineco SpA

      21,857        271,153  

MARR SpA

      20,518        482,730  

Moncler SpA

      6,672        255,834  
     

 

 

  
      $ 1,965,953  
     

 

 

  

Japan — 28.2%

      

77 Bank, Ltd. (The)

      22,136      $ 355,931  

Ariake Japan Co., Ltd.

      2,285        120,616  

Asahi Co., Ltd.

      25,725        349,583  

Asahi Intecc Co., Ltd.

      5,812        279,503  

Chiba Bank, Ltd. (The)

      42,980        261,601  

Daiichikosho Co., Ltd.

      10,327        510,258  

Dowa Holdings Co., Ltd.

      8,343        272,706  

Eiken Chemical Co., Ltd.

      8,843        207,939  

FP Corp.

      7,980        487,691  

Fuji Seal International, Inc.

      11,646        437,236  

H.I.S. Co., Ltd.

      13,465        515,142  

Invesco Office J REIT, Inc.

      2,485        358,397  

Japan Hotel REIT Investment Corp.

      313        241,656  

Japan Lifeline Co., Ltd.

      27,415        451,268  

 

2

 

 

                                                 
Security    Shares      Value  

K’s Holdings Corp.

      39,775      $ 366,587  

Kenedix, Inc.

      63,735        308,740  

Kewpie Corp.

      19,834        453,508  

Kuraray Co., Ltd.

      15,119        203,260  

Mitsui Fudosan Logistics Park, Inc.

      95        280,679  

Morinaga & Co., Ltd.

      10,322        463,598  

Nabtesco Corp.

      14,935        395,985  

Nippon Light Metal Holdings Co., Ltd.

      109,185        241,584  

Nohmi Bosai, Ltd.

      13,650        234,868  

Nomura Co., Ltd.

      22,388        646,707  

Okamura Corp.

      45,330        536,088  

Penta-Ocean Construction Co., Ltd.

      75,145        379,855  

Press Kogyo Co., Ltd.

      83,264        458,817  

Sakata Seed Corp.

      11,482        389,694  

Ship Healthcare Holdings, Inc.

      10,020        379,764  

Sumco Corp.

      16,800        214,193  

Toho Co., Ltd.

      5,185        185,349  

Tokyo Century Corp.

      3,688        164,675  

Yamaha Corp.

      8,843        436,121  

Yokohama Reito Co., Ltd.

      21,815        180,132  
     

 

 

  
      $ 11,769,731  
     

 

 

  

Luxembourg — 0.2%

      

APERAM SA

      2,261      $ 73,731  
     

 

 

  
      $ 73,731  
     

 

 

  

Netherlands — 4.8%

      

Aalberts Industries NV

      15,112      $ 557,879  

GrandVision NV(1)(2)

      16,026        355,816  

IMCD NV

      8,872        695,713  

NSI NV

      9,625        401,321  
     

 

 

  
      $ 2,010,729  
     

 

 

  

New Zealand — 0.4%

      

Fisher & Paykel Healthcare Corp., Ltd.

      18,538      $ 185,484  
     

 

 

  
      $ 185,484  
     

 

 

  

Norway — 1.1%

      

SpareBank 1 SR-Bank ASA

      27,218      $ 303,605  

TGS NOPEC Geophysical Co. ASA

      5,848        159,159  
     

 

 

  
      $ 462,764  
     

 

 

  

Singapore — 0.8%

      

Keppel REIT

      352,012      $ 319,869  
     

 

 

  
      $ 319,869  
     

 

 

  

Spain — 0.7%

      

Acciona SA

      3,007      $ 292,144  
     

 

 

  
      $ 292,144  
     

 

 

  

Sweden — 5.2%

      

Boliden AB

      3,729      $ 101,947  

Bufab AB

      16,038        179,709  

Fabege AB

      18,281        245,441  

Husqvarna AB, Class B

      57,702        472,397  

 

3

 

 

                                                 
Security    Shares      Value  

Indutrade AB

      19,488      $ 554,831  

SSAB AB, Class B

      27,076        89,022  

Trelleborg AB, Class B

      31,471        516,284  
     

 

 

  
      $ 2,159,631  
     

 

 

  

Switzerland — 5.4%

      

Belimo Holding AG

      73      $ 344,229  

Bossard Holding AG, Class A

      1,551        249,926  

Cembra Money Bank AG

      5,854        560,716  

Galenica AG(2)

      7,413        337,625  

Logitech International SA

      9,445        354,478  

VZ Holding AG

      1,576        411,288  
     

 

 

  
      $ 2,258,262  
     

 

 

  

United Kingdom — 15.7%

      

Abcam PLC

      18,497      $ 314,882  

Avast PLC(1)(2)

      47,607        195,358  

Bellway PLC

      7,407        297,584  

Bodycote PLC

      47,315        476,274  

Cairn Energy PLC(1)

      92,587        250,029  

Croda International PLC

      4,427        282,443  

Dechra Pharmaceuticals PLC

      14,312        468,683  

DS Smith PLC

      130,717        581,869  

First Derivatives PLC

      9,258        268,991  

Grainger PLC

      140,603        460,445  

Halma PLC

      33,213        685,220  

Hastings Group Holdings PLC(2)

      66,708        197,686  

Hiscox, Ltd.

      19,739        418,254  

Inchcape PLC

      34,719        260,295  

Melrose Industries PLC

      211,715        488,140  

St. James’s Place PLC

      29,622        382,236  

Weir Group PLC (The)

      6,961        151,394  

WH Smith PLC

      13,401        373,402  
     

 

 

  
      $ 6,553,185  
     

 

 

  

United States — 0.4%

      

Oceaneering International, Inc.(1)

      11,620      $ 179,529  
     

 

 

  
      $ 179,529  
     

 

 

  

Total Common Stocks
(identified cost $39,737,015)

       $ 40,865,647  
     

 

 

  

Exchange-Traded Funds — 1.8%

      
Security    Shares      Value  

Equity Funds — 1.8%

      

iShares MSCI EAFE Small-Cap ETF

      4,537      $ 259,290  

iShares MSCI Hong Kong ETF

      16,328        422,242  

iShares MSCI Singapore ETF

      3,139        73,672  
     

 

 

  

Total Exchange-Traded Funds
(identified cost $737,909)

       $ 755,204  
     

 

 

  

 

4

 

 

                                                 

Short-Term Investments — 0.1%

      
Description    Units      Value  

Eaton Vance Cash Reserves Fund, LLC, 2.62%(3)

      34,950      $ 34,954  
     

 

 

  

Total Short-Term Investments
(identified cost $34,954)

       $ 34,954  
     

 

 

  

Total Investments — 99.9%
(identified cost $40,509,878)

       $ 41,655,805  
     

 

 

  

Other Assets, Less Liabilities — 0.1%

       $ 31,265  
     

 

 

  

Net Assets — 100.0%

       $ 41,687,070  
     

 

 

  

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

 

(1)

Non-income producing security.

 

(2)

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At February 28, 2019, the aggregate value of these securities is $1,256,258 or 3.0% of the Fund’s net assets.

 

(3)

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 February 28, 2019. Net income from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended February 28, 2019 was $4,469.

Sector Classification of Portfolio

 

                                                 
Sector    Percentage of
Net Assets		     Value  

Industrials

      19.5 %    $ 8,138,236  

Real Estate

      13.3       5,553,262  

Consumer Discretionary

      11.3       4,723,052  

Financials

      10.5       4,380,704  

Materials

      10.1       4,186,515  

Health Care

      9.5       3,938,138  

Information Technology

      7.3       3,058,858  

Communication Services

      6.4       2,664,975  

Consumer Staples

      5.8       2,397,451  

Energy

      2.6       1,098,590  

Exchange-Traded Funds

      1.8       755,204  

Utilities

      1.7       725,866  

Short-Term Investments

      0.1       34,954  
  

 

 

    

 

 

  

Total Investments

      99.9 %    $     41,655,805  
  

 

 

    

 

 

  

The Fund did not have any open derivative instruments at February 28, 2019.

 

5

 

 

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 February 28, 2019, 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

            

Asia/Pacific

    $ —      $ 15,419,188      $ —      $ 15,419,188  

Developed Europe

      —        21,263,112        —        21,263,112  

North America

      4,183,347        —        —        4,183,347  

Total Common Stocks

    $ 4,183,347      $ 36,682,300 *     $ —      $ 40,865,647  

Exchange-Traded Funds

    $ 755,204      $ —      $ —      $ 755,204  

Short-Term Investments

      —        34,954        —        34,954  

Total Investments

    $     4,938,551      $     36,717,254      $     —      $     41,655,805  

 

*

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.

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.

 

6

 

 

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.

Item 3. Exhibits

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act is attached hereto.

 

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:   April 25, 2019

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:   April 25, 2019
By:   /s/ James F. Kirchner
  James F. Kirchner
  Treasurer
Date:   April 25, 2019