Eaton Vance

Focused Growth Opportunities Fund

May 31, 2021

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.0%

Security	Shares		Value
Aerospace & Defense — 1.1%
Hexcel Corp.(1)		60,308	$	3,585,914
			$	3,585,914
Auto Components — 3.3%
Aptiv PLC(1)		71,198	$	10,709,603
			$	10,709,603
Biotechnology — 5.7%
AbbVie, Inc.		106,033	$	12,002,936
Vertex Pharmaceuticals, Inc.(1)		30,156		6,291,446
			$	18,294,382
Building Products — 2.2%
Trane Technologies PLC		37,703	$	7,027,839
			$	7,027,839
Capital Markets — 2.5%
Goldman Sachs Group, Inc. (The)		21,194	$	7,884,592
			$	7,884,592
Commercial Services & Supplies — 1.1%
Waste Connections, Inc.		29,320	$	3,560,621
			$	3,560,621
Electrical Equipment — 1.4%
AMETEK, Inc.		32,665	$	4,413,042
			$	4,413,042
Electronic Equipment, Instruments & Components — 1.5%
Zebra Technologies Corp., Class A(1)		9,878	$	4,909,860
			$	4,909,860
Entertainment — 5.1%
Netflix, Inc.(1)		12,214	$	6,141,321
Walt Disney Co. (The)(1)		57,134		10,206,989
			$	16,348,310
Food & Staples Retailing — 1.8%
Sysco Corp.		69,168	$	5,602,608
			$	5,602,608

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Security	Shares		Value
Food Products — 1.7%
Lamb Weston Holdings, Inc.		64,580	$	5,327,204
			$	5,327,204
Health Care Equipment & Supplies — 2.5%
Intuitive Surgical, Inc.(1)		9,385	$	7,903,859
			$	7,903,859
Health Care Providers & Services — 4.3%
UnitedHealth Group, Inc.		33,312	$	13,721,879
			$	13,721,879
Interactive Media & Services — 5.1%
Alphabet, Inc., Class C(1)		6,800	$	16,398,608
			$	16,398,608
Internet & Direct Marketing Retail — 10.2%
Amazon.com, Inc.(1)		10,175	$	32,794,737
			$	32,794,737
IT Services — 9.7%
PayPal Holdings, Inc.(1)		54,291	$	14,116,746
Visa, Inc., Class A		75,027		17,053,637
			$	31,170,383
Life Sciences Tools & Services — 1.9%
10X Genomics, Inc., Class A(1)		34,057	$	6,130,260
			$	6,130,260
Metals & Mining — 1.3%
BHP Group, Ltd. ADR(2)		55,114	$	4,084,499
			$	4,084,499
Road & Rail — 3.5%
CSX Corp.		50,157	$	5,021,719
Uber Technologies, Inc.(1)		121,728		6,187,434
			$	11,209,153
Semiconductors & Semiconductor Equipment — 10.2%
Intel Corp.		75,173	$	4,293,881
Micron Technology, Inc.(1)		138,878		11,685,195
QUALCOMM, Inc.		64,424		8,667,605
Texas Instruments, Inc.		43,140		8,188,835
			$	32,835,516

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Security	Shares		Value
Software — 16.9%
Adobe, Inc.(1)		20,658	$	10,423,614
Intuit, Inc.		27,478		12,065,315
Microsoft Corp.		83,600		20,873,248
Palantir Technologies, Inc., Class A(1)(2)		201,653		4,627,936
Zscaler, Inc.(1)		32,502		6,311,888
			$	54,302,001
Specialty Retail — 2.2%
TJX Cos., Inc. (The)		106,376	$	7,184,635
			$	7,184,635
Technology Hardware, Storage & Peripherals — 2.8%
Apple, Inc.		71,260	$	8,879,709
			$	8,879,709
Textiles, Apparel & Luxury Goods — 2.0%
VF Corp.		81,650	$	6,509,138
			$	6,509,138
Total Common Stocks (identified cost $176,375,259)			$	320,788,352
Short-Term Investments — 2.9%
Description	Units/Shares		Value
Eaton Vance Cash Reserves Fund, LLC, 0.10%(3)		827,225	$	827,225
State Street Navigator Securities Lending Government Money Market Portfolio, 0.01%(4)		8,569,288		8,569,288
Total Short-Term Investments (identified cost $9,396,513)			$	9,396,513
Total Investments — 102.9% (identified cost $185,771,772)			$	330,184,865
Other Assets, Less Liabilities — (2.9)%			$	(9,224,085	)
Net Assets — 100.0%			$	320,960,780

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

(1) Non-income producing security.

(2) All or a portion of this security was on loan at May 31, 2021. The aggregate market value of securities on loan at May 31, 2021 was $8,625,236 and the total market value of the collateral received by the Fund was $8,776,708, comprised of cash of $8,569,288 and U.S. government and/or agencies securities of $207,420.

(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 May 31, 2021.

(4) Represents investment of cash collateral received in connection with securities lending.

Abbreviations:

ADR - American Depositary Receipt

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The Fund did not have any open derivative instruments at May 31, 2021.

At May 31, 2021, the value of the Fund’s investment in affiliated funds was $827,225, which represents 0.3% of the Fund’s net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended May 31, 2021 were as follows:

Name of affiliated fund	Value, beginning of period		Purchases		Sales proceeds			Net realized gain (loss)		Change in unrealized appreciation (depreciation)		Value, end of period		Dividend income		Units, end of period
Short-Term Investments
Eaton Vance Cash Reserves Fund, LLC	$	977,699	$	13,839,531	$	(13,990,005	)	$	—	$	—	$	827,225	$	326		827,225

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, 2021, 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	$	320,788,352	*	$	—	$	—	$	320,788,352
Short-Term Investments		8,569,288			827,225		—		9,396,513
Total Investments	$	329,357,640		$	827,225	$	—	$	330,184,865

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

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.

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