NPORT-EX 2 NPORT_8294755990764905.htm
Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited)
Asset-Backed Securities — 4.9%
    
Security Principal
Amount
(000's omitted) 		Value
Adams Outdoor Advertising, L.P., Series 2018-1, Class A, 4.81%, 11/15/48(1) $        445 $      470,200
Business Jet Securities, LLC, Series 2020-1A, Class A, 2.981%, 11/15/35(1)          107       108,502
Coinstar Funding, LLC, Series 2017-1A, Class A2, 5.216%, 4/25/47(1)        2,137     2,089,234
Conn's Receivables Funding, LLC:      
Series 2019-A, Class A, 3.40%, 10/16/23(1)          179       180,089
Series 2019-A, Class B, 4.36%, 10/16/23(1)   227       228,081
Series 2019-B, Class A, 2.66%, 6/17/24(1)   200       200,035
Series 2019-B, Class B, 3.62%, 6/17/24(1)   295       296,038
Series 2020-A, Class B, 4.27%, 6/16/25(1)   135       135,642
DB Master Finance, LLC, Series 2017-1A, Class A2II, 4.03%, 11/20/47(1)   165 175,769
DRB Prime Student Loan Trust, Series 2016-B, Class A2, 2.89%, 6/25/40(1)   116 118,731
Driven Brands Funding, LLC:      
Series 2018-1A, Class A2, 4.739%, 4/20/48(1)   127 135,078
Series 2019-2A, Class A2, 3.981%, 10/20/49(1)   297 313,034
ExteNet, LLC:      
Series 2019-1A, Class A2, 3.204%, 7/26/49(1)   805 836,561
Series 2019-1A, Class B, 4.14%, 7/26/49(1)   80 81,860
FOCUS Brands Funding, LLC:      
Series 2017-1A, Class A2I, 3.857%, 4/30/47(1)   1,226 1,230,072
Series 2017-1A, Class A2II, 5.093%, 4/30/47(1)   347 334,371
Hardee's Funding, LLC, Series 2020-1A, Class A2, 3.981%, 12/20/50(1)   435 448,185
InSite Issuer, LLC:      
Series 2016-1A, Class A, 2.883%, 11/15/46(1)   345 356,815
Series 2016-1A, Class C, 6.414%, 11/15/46(1)   50 53,920
Jack in the Box Funding, LLC, Series 2019-1A, Class A2I, 3.982%, 8/25/49(1)   973 1,001,682
Jersey Mike's Funding, Series 2019-1A, Class A2, 4.433%, 2/15/50(1)   635 682,366
Lunar Aircraft, Ltd., Series 2020-1A, Class B, 4.335%, 2/15/45(1)   130 104,444
Marlette Funding Trust:      
Series 2020-2A, Class B, 1.83%, 9/16/30(1)   425 429,871
Series 2020-2A, Class C, 2.83%, 9/16/30(1)   107 109,949
Mosaic Solar Loan Trust:      
Series 2019-1A, Class A, 4.37%, 12/21/43(1)   658 709,153
Series 2019-2A, Class B, 3.28%, 9/20/40(1)   1,801 1,868,222
Series 2019-2A, Class C, 4.35%, 9/20/40(1)   416 412,712
Series 2020-1A, Class A, 2.10%, 4/20/46(1)   196 201,066
Series 2020-1A, Class B, 3.10%, 4/20/46(1)   161 168,456
Series 2020-2A, Class A, 1.44%, 8/20/46(1)   396 393,785
Security Principal
Amount
(000's omitted) 		Value
Mosaic Solar Loan Trust: (continued)      
Series 2020-2A, Class B, 2.21%, 8/20/46(1) $ 572 $      569,163
OneMain Financial Issuance Trust:      
Series 2016-3A, Class A, 3.83%, 6/18/31(1)          625       637,928
Series 2017-1A, Class A1, 2.37%, 9/14/32(1)   220       220,477
Oportun Funding IX, LLC, Series 2018-B, Class A, 3.91%, 7/8/24(1)        1,486     1,497,542
Oportun Funding VIII, LLC, Series 2018-A, Class A, 3.61%, 3/8/24(1)        1,528     1,528,000
Planet Fitness Master Issuer, LLC:      
Series 2018-1A, Class A2I, 4.262%, 9/5/48(1)        1,065     1,067,780
Series 2018-1A, Class A2II, 4.666%, 9/5/48(1)   142 141,851
Series 2019-1A, Class A2, 3.858%, 12/5/49(1)   624 590,533
Prosper Marketplace Issuance Trust, Series 2017-1A, Class C, 5.80%, 6/15/23(1)   39 38,944
RenewFund Receivables Trust, Series 2015-1, Class A, 3.51%, 4/15/25(1)   20 20,413
SBA Tower Trust, Series 2014-2A, Class C, 3.869%, 10/15/49(1)   1,000 1,072,081
ServiceMaster Funding, LLC:      
Series 2020-1, Class A2I, 2.841%, 1/30/51(1)   354 362,911
Series 2020-1, Class A2II, 3.337%, 1/30/51(1)   447 457,423
SERVPRO Master Issuer, LLC, Series 2019-1A, Class A2, 3.882%, 10/25/49(1)   2,579 2,764,672
Small Business Lending Trust:      
Series 2019-A, Class A, 2.85%, 7/15/26(1)   245 245,075
Series 2020-A, Class A, 2.62%, 12/15/26(1)   266 264,717
SolarCity LMC Series I, LLC, Series 2013-1, Class A, 4.80%, 11/20/38(1)   461 453,460
SolarCity LMC Series II, LLC, Series 2014-1, Class A, 4.59%, 4/20/44(1)   429 426,381
SolarCity LMC Series III, LLC:      
Series 2014-2, Class A, 4.02%, 7/20/44(1)   1,452 1,482,420
Series 2014-2, Class B, 5.44%, 7/20/44(1)   1,695 1,734,703
Sonic Capital, LLC, Series 2020-1A, Class A2I, 3.845%, 1/20/50(1)   1,671 1,792,129
SpringCastle America Funding, LLC, Series 2020-AA, Class A, 1.97%, 9/25/37(1)   1,232 1,243,635
Spruce ABS Trust, Series 2016-E1, Class A, 4.32%, 6/15/28(1)   35 35,655
Stack Infrastructure Issuer, LLC:      
Series 2019-1A, Class A2, 4.54%, 2/25/44(1)   5,006 5,374,336
Series 2019-2A, Class A2, 3.08%, 10/25/44(1)   405 421,567
Sunnova Sol II Issuer, LLC, Series 2020-2A, Class A, 2.73%, 11/1/55(1)   1,475 1,487,676
Sunnova Sol Issuer, LLC, Series 2020-1A, Class A, 3.35%, 2/1/55(1)   251 266,565
Sunrun Atlas Issuer, LLC, Series 2019-2, Class A, 3.61%, 2/1/55(1)   488 523,090
 
1

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted) 		Value
Sunrun Callisto Issuer, LLC, Series 2015-1A, Class B, 5.38%, 7/20/45(1) $        474 $      469,910
Sunrun Xanadu Issuer, LLC, Series 2019-1A, Class A, 3.98%, 6/30/54(1)          345       364,977
TES, LLC, Series 2017-1A, Class A, 4.33%, 10/20/47(1)          755       776,538
Tesla Auto Lease Trust:      
Series 2018-B, Class A, 3.71%, 8/20/21(1)          696       700,108
Series 2019-A, Class A2, 2.13%, 4/20/22(1)   261       263,512
Series 2019-A, Class A3, 2.16%, 10/20/22(1)   2,016     2,060,350
Series 2019-A, Class A4, 2.20%, 11/21/22(1)   395       405,029
Series 2020-A, Class A3, 0.68%, 12/20/23(1)   160       160,999
Series 2020-A, Class A4, 0.78%, 12/20/23(1)   204 205,506
Theorem Funding Trust, Series 2020-1A, Class A, 2.48%, 10/15/26(1)   76 76,223
Thunderbolt Aircraft Lease, Ltd., Series 2017-A, Class C, 4.50%, 5/17/32(1)   134 47,955
United States Small Business Administration, Series 2017-20E, Class 1, 2.88%, 5/1/37   1,302 1,419,483
Vantage Data Centers Issuer, LLC:      
Series 2018-2A, Class A2, 4.196%, 11/16/43(1)   162 168,037
Series 2019-1A, Class A2, 3.188%, 7/15/44(1)   1,515 1,588,704
Series 2020-2A, Class A2, 1.992%, 9/15/45(1)   1,405 1,420,060
Vivint Solar Financing VII, LLC, Series 2020-1A, Class A, 2.21%, 7/31/51(1)   1,035 1,068,811
Willis Engine Structured Trust V:      
Series 2020-A, Class B, 4.212%, 3/15/45(1)   388 290,868
Series 2020-A, Class C, 6.657%, 3/15/45(1)   226 122,046
Total Asset-Backed Securities
(identified cost $51,174,138) 		    $52,204,166
    
Collateralized Mortgage Obligations — 1.5%
    
Security Principal
Amount
(000's omitted) 		Value
Bellemeade Re, Ltd., Series 2020-4A, Class M2A, 2.75%, (1 mo. USD LIBOR + 2.60%), 6/25/30(1)(2) $        306 $      307,735
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes:      
Series 2015-HQ2, Class M3, 3.398%, (1 mo. USD LIBOR + 3.25%), 5/25/25(2)          689       701,651
Series 2017-DNA3, Class M2, 2.648%, (1 mo. USD LIBOR + 2.50%), 3/25/30(2)   923       936,431
Series 2017-HQA2, Class M2, 2.798%, (1 mo. USD LIBOR + 2.65%), 12/25/29(2)   404       405,259
Series 2018-DNA1, Class M2, 1.948%, (1 mo. USD LIBOR + 1.80%), 7/25/30(2)   580       574,640
Series 2018-DNA1, Class M2AT, 1.198%, (1 mo. USD LIBOR + 1.05%), 7/25/30(2)   770        768,696
Security Principal
Amount
(000's omitted) 		Value
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes: (continued)      
Series 2019-DNA2, Class M2, 2.598%, (1 mo. USD LIBOR + 2.45%), 3/25/49(1)(2) $ 140 $      139,581
Series 2019-DNA3, Class M2, 2.198%, (1 mo. USD LIBOR + 2.05%), 7/25/49(1)(2)   1,752     1,743,178
Series 2019-DNA4, Class M2, 2.098%, (1 mo. USD LIBOR + 1.95%), 10/25/49(1)(2)   739       738,040
Series 2019-HQA2, Class M2, 2.198%, (1 mo. USD LIBOR + 2.05%), 4/25/49(1)(2)   65        64,011
Series 2020-DNA1, Class M1, 0.848%, (1 mo. USD LIBOR + 0.70%), 1/25/50(1)(2)   113       113,479
Series 2020-DNA2, Class M1, 0.898%, (1 mo. USD LIBOR + 0.75%), 2/25/50(1)(2)   564       565,551
Series 2020-DNA4, Class M1, 1.648%, (1 mo. USD LIBOR + 1.50%), 8/25/50(1)(2)   256       257,179
Series 2020-DNA4, Class M2, 3.898%, (1 mo. USD LIBOR + 3.75%), 8/25/50(1)(2)   60        60,684
Series 2020-DNA5, Class M1, 1.377%, (SOFR + 1.30%), 10/25/50(1)(2)   415 417,098
Series 2020-DNA5, Class M2, 2.877%, (SOFR + 2.80%), 10/25/50(1)(2)   330 334,337
Series 2020-DNA6, Class B1, 3.077%, (SOFR + 3.00%), 12/25/50(1)(2)   50 50,289
Series 2020-DNA6, Class M2, 2.077%, (SOFR + 2.00%), 12/25/50(1)(2)   715 716,046
Series 2020-HQA1, Class M1, 0.898%, (1 mo. USD LIBOR + 0.75%), 1/25/50(1)(2)   65 65,654
Federal National Mortgage Association Connecticut Avenue Securities:      
Series 2013-C01, Class M2, 5.398%, (1 mo. USD LIBOR + 5.25%), 10/25/23(2)   527 539,283
Series 2014-C02, Class 1M2, 2.748%, (1 mo. USD LIBOR + 2.60%), 5/25/24(2)   1,021 997,371
Series 2014-C02, Class 2M2, 2.748%, (1 mo. USD LIBOR + 2.60%), 5/25/24(2)   257 255,303
Series 2014-C03, Class 1M2, 3.148%, (1 mo. USD LIBOR + 3.00%), 7/25/24(2)   639 628,332
Series 2014-C03, Class 2M2, 3.048%, (1 mo. USD LIBOR + 2.90%), 7/25/24(2)   399 398,775
Series 2014-C04, Class 1M2, 5.048%, (1 mo. USD LIBOR + 4.90%), 11/25/24(2)   861 884,679
Series 2017-C05, Class 1M2, 2.348%, (1 mo. USD LIBOR + 2.20%), 1/25/30(2)   306 306,402
Series 2017-C06, Class 1M2, 2.798%, (1 mo. USD LIBOR + 2.65%), 2/25/30(2)   480 483,331
Series 2018-C06, Class 1M2, 2.148%, (1 mo. USD LIBOR + 2.00%), 3/25/31(2)   48 47,714
Series 2018-R07, Class 1M2, 2.548%, (1 mo. USD LIBOR + 2.40%), 4/25/31(1)(2)   610 610,373
Series 2019-R02, Class 1M2, 2.448%, (1 mo. USD LIBOR + 2.30%), 8/25/31(1)(2)   59 59,003
Series 2019-R05, Class 1M2, 2.148%, (1 mo. USD LIBOR + 2.00%), 7/25/39(1)(2)   162 161,984
Series 2020-R01, Class 1M1, 0.948%, (1 mo. USD LIBOR + 0.80%), 1/25/40(1)(2)   315 315,590
 
2

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted) 		Value
Federal National Mortgage Association Grantor Trust, Series 2017-T1, Class A, 2.898%, 6/25/27 $        548 $      608,103
Toorak Mortgage Corp., Ltd.:      
Series 2018-1, Class A1, 4.336% to 4/25/21, 8/25/21(1)(3)           99        99,666
Series 2020-1, Class A1, 2.734% to 1/25/23, 3/25/23(1)(3)   480       486,625
Total Collateralized Mortgage Obligations
(identified cost $15,918,397) 		    $   15,842,073
    
Commercial Mortgage-Backed Securities — 4.3%
    
Security Principal
Amount
(000's omitted) 		Value
BAMLL Commercial Mortgage Securities Trust:      
Series 2019-BPR, Class DNM, 3.719%, 11/5/32(1)(4) $      1,605 $    1,369,965
Series 2019-BPR, Class ENM, 3.719%, 11/5/32(1)(4)   680       556,110
Series 2019-BPR, Class FNM, 3.719%, 11/5/32(1)(4)   1,115       822,255
BX Commercial Mortgage Trust:      
Series 2019-XL, Class A, 1.079%, (1 mo. USD LIBOR + 0.92%), 10/15/36(1)(2)        1,519     1,525,128
Series 2019-XL, Class B, 1.239%, (1 mo. USD LIBOR + 1.08%), 10/15/36(1)(2)   712       713,610
Citigroup Commercial Mortgage Trust, Series 2017-MDRC, Class D, 2.409%, (1 mo. USD LIBOR + 2.25%), 7/15/30(1)(2)          490       455,997
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates:      
Series KG02, Class A2, 2.412%, 8/25/29   3,315 3,593,256
Series KG03, Class A2, 1.297%, 6/25/30(4)   770 773,220
Series KSG1, Class A2, 1.503%, 9/25/30   704 726,278
Series KW06, Class A2, 3.80%, 6/25/28(4)   1,135 1,334,348
Series W5FX, Class AFX, 3.214%, 4/25/28(4)   413 464,174
Federal National Mortgage Association:      
Series 2017-M2, Class A1, 2.801%, 2/25/27(4)   201 208,311
Series 2017-M13, Class A2, 2.939%, 9/25/27(4)   1,350 1,531,592
Series 2018-M4, Class A2, 3.045%, 3/25/28(4)   3,672 4,191,520
Series 2018-M8, Class A2, 3.325%, 6/25/28(4)   989 1,143,500
Series 2018-M13, Class A2, 3.697%, 9/25/30(4)   3,600 4,359,556
Series 2019-M1, Class A2, 3.555%, 9/25/28(4)   1,700 2,010,648
Series 2019-M9, Class A2, 2.937%, 4/25/29   660 747,994
Series 2019-M22, Class A2, 2.522%, 8/25/29   7,125 7,904,446
Series 2020-M1, Class A2, 2.444%, 10/25/29   2,322 2,562,954
Series 2020-M20, Class A2, 1.435%, 10/25/29   1,505 1,548,673
Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust:      
Series 2019-01, Class M10, 3.398%, (1 mo. USD LIBOR + 3.25%), 10/15/49(1)(2)   130 122,188
Security Principal
Amount
(000's omitted) 		Value
Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust: (continued)      
Series 2020-01, Class M10, 3.898%, (1 mo. USD LIBOR + 3.75%), 3/25/50(1)(2) $ 980 $      961,349
JPMorgan Chase Commercial Mortgage Securities Trust:      
Series 2014-DSTY, Class A, 3.429%, 6/10/27(1)          200       123,262
Series 2014-DSTY, Class B, 3.771%, 6/10/27(1)   550       189,338
Series 2014-DSTY, Class C, 3.805%, 6/10/27(1)(4)   225        45,432
Morgan Stanley Capital I Trust:      
Series 2017-CLS, Class A, 0.859%, (1 mo. USD LIBOR + 0.70%), 11/15/34(1)(2)        1,140     1,140,597
Series 2019-BPR, Class A, 1.559%, (1 mo. USD LIBOR + 1.40%), 5/15/36(1)(2)   1,585     1,529,867
Series 2019-BPR, Class B, 2.259%, (1 mo. USD LIBOR + 2.10%), 5/15/36(1)(2)   498 424,519
Series 2019-BPR, Class C, 3.209%, (1 mo. USD LIBOR + 3.05%), 5/15/36(1)(2)   205 150,869
Motel 6 Trust:      
Series 2017-MTL6, Class C, 1.559%, (1 mo. USD LIBOR + 1.40%), 8/15/34(1)(2)   1,352 1,348,087
Series 2017-MTL6, Class D, 2.309%, (1 mo. USD LIBOR + 2.15%), 8/15/34(1)(2)   333 330,380
Series 2017-MTL6, Class E, 3.409%, (1 mo. USD LIBOR + 3.25%), 8/15/34(1)(2)   99 97,413
RETL Trust:      
Series 2019-RVP, Class B, 1.709%, (1 mo. USD LIBOR + 1.55%), 3/15/36(1)(2)   10 9,368
Series 2019-RVP, Class C, 2.259%, (1 mo. USD LIBOR + 2.10%), 3/15/36(1)(2)   152 146,898
WFLD Mortgage Trust, Series 2014-MONT, Class C, 3.755%, 8/10/31(1)(4)   850 735,168
Total Commercial Mortgage-Backed Securities
(identified cost $44,246,142) 		    $45,898,270
    
Common Stocks — 64.4%
    
Security Shares Value
Banks — 3.3%  
JPMorgan Chase & Co.      154,000 $   19,568,780
PNC Financial Services Group, Inc. (The)      104,700    15,600,300
      $   35,169,080
Beverages — 1.6%  
PepsiCo, Inc.      118,996 $   17,647,107
      $   17,647,107
Biotechnology — 2.0%  
AbbVie, Inc.      135,474 $   14,516,039
 
3

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Shares Value
Biotechnology (continued)  
Vertex Pharmaceuticals, Inc.(5)       30,800 $    7,279,272
      $   21,795,311
Building Products — 1.1%  
Trane Technologies PLC       81,600 $   11,845,056
      $   11,845,056
Capital Markets — 3.6%  
BlackRock, Inc.       17,900 $   12,915,566
Intercontinental Exchange, Inc.      115,400    13,304,466
Tradeweb Markets, Inc., Class A   197,666 12,344,242
      $38,564,274
Commercial Services & Supplies — 0.8%  
Waste Management, Inc.   73,025 $8,611,838
      $8,611,838
Communications Equipment — 0.8%  
Cisco Systems, Inc.   186,500 $8,345,875
      $8,345,875
Containers & Packaging — 0.7%  
AptarGroup, Inc.   55,400 $7,583,706
      $7,583,706
Diversified Telecommunication Services — 0.0%(6)  
Verizon Communications, Inc.   1,221 $71,734
      $71,734
Electrical Equipment — 1.3%  
AMETEK, Inc.   113,000 $13,666,220
      $13,666,220
Energy Equipment & Services — 1.1%  
Baker Hughes Co.   581,100 $12,115,935
      $12,115,935
Entertainment — 1.6%  
Walt Disney Co. (The)(5)   93,600 $16,958,448
      $16,958,448
Equity Real Estate Investment Trusts (REITs) — 1.2%  
American Tower Corp.   59,300 $13,310,478
      $13,310,478
Security Shares Value
Food & Staples Retailing — 1.5%  
Sysco Corp.      215,200 $   15,980,752
      $   15,980,752
Food Products — 1.1%  
Mondelez International, Inc., Class A      203,670 $   11,908,585
      $   11,908,585
Health Care Equipment & Supplies — 3.7%  
Abbott Laboratories      124,400 $   13,620,556
Boston Scientific Corp.(5)      319,600    11,489,620
Danaher Corp.   67,700 15,038,878
      $40,149,054
Health Care Providers & Services — 1.4%  
Anthem, Inc.   46,200 $14,834,358
      $14,834,358
Hotels, Restaurants & Leisure — 1.1%  
Marriott International, Inc., Class A   90,400 $11,925,568
      $11,925,568
Independent Power and Renewable Electricity Producers — 1.0%  
NextEra Energy Partners, L.P.   155,800 $10,446,390
      $10,446,390
Insurance — 0.8%  
Travelers Cos., Inc. (The)   63,900 $8,969,643
      $8,969,643
Interactive Media & Services — 3.6%  
Alphabet, Inc., Class C(5)   18,112 $31,730,050
Match Group, Inc.(5)   48,830 7,382,608
      $39,112,658
Internet & Direct Marketing Retail — 4.1%  
Amazon.com, Inc.(5)   13,466 $43,857,819
      $43,857,819
IT Services — 6.4%  
Automatic Data Processing, Inc.   58,300 $10,272,460
Cognizant Technology Solutions Corp., Class A   157,314 12,891,882
Fidelity National Information Services, Inc.   62,500 8,841,250
PayPal Holdings, Inc.(5)   59,600 13,958,320
Visa, Inc., Class A   105,700 23,119,761
      $69,083,673
 
4

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Shares Value
Life Sciences Tools & Services — 1.3%  
Thermo Fisher Scientific, Inc.       29,397 $   13,692,535
      $   13,692,535
Machinery — 1.6%  
Ingersoll Rand, Inc.(5)      174,900 $    7,968,444
Stanley Black & Decker, Inc.       53,000     9,463,680
      $   17,432,124
Multi-Utilities — 0.7%  
Sempra Energy       57,515 $    7,327,986
      $7,327,986
Pharmaceuticals — 0.7%  
Zoetis, Inc.   43,200 $7,149,600
      $7,149,600
Road & Rail — 0.9%  
Union Pacific Corp.   48,600 $10,119,492
      $10,119,492
Semiconductors & Semiconductor Equipment — 2.1%  
Taiwan Semiconductor Manufacturing Co., Ltd. ADR   105,900 $11,547,336
Texas Instruments, Inc.   66,496 10,913,988
      $22,461,324
Software — 5.3%  
Intuit, Inc.   17,167 $6,520,885
Microsoft Corp.   206,051 45,829,864
nCino, Inc.(5)   65,847 4,767,981
      $57,118,730
Specialty Retail — 2.5%  
Lowe's Cos., Inc.   86,600 $13,900,166
TJX Cos., Inc. (The)   190,600 13,016,074
      $26,916,240
Technology Hardware, Storage & Peripherals — 4.2%  
Apple, Inc.   337,108 $44,730,861
      $44,730,861
Venture Capital — 0.2%  
CFBanc Corp.(5)(7)(8)   27,000 $612,557
Consensus Orthopedics, Inc.(5)(7)(8)   180,877 0
Kickboard(5)(7)(8)   169,932 4,452
Learn Capital Venture Partners III, L.P.(5)(7)(8)   1,024,486 1,555,614
Security Shares Value
Venture Capital (continued)  
Neighborhood Bancorp, Class A(5)(7)(8)       10,000 $       12,500
      $    2,185,123
Wireless Telecommunication Services — 1.1%  
T-Mobile US, Inc.(5)       84,345 $   11,373,923
      $   11,373,923
Total Common Stocks
(identified cost $484,266,752) 		    $  692,461,500
    
Convertible Bonds — 0.1%
    
Security Principal
Amount
(000's omitted) 		Value
Technology — 0.1%  
ams AG, 0.875%, 9/28/22(9) $        200 $      187,856
Western Digital Corp., 1.50%, 2/1/24          675       674,288
Total Convertible Bonds
(identified cost $841,395) 		    $      862,144
    
Convertible Preferred Stocks — 0.0%(6)
    
Security Shares Value
Health Care Equipment & Supplies — 0.0%(6)  
Becton Dickinson and Co., Series B, 6.00%(10)        1,000 $       55,130
Total Convertible Preferred Stocks
(identified cost $54,650) 		    $       55,130
    
Corporate Bonds — 14.8%
    
Security Principal
Amount
(000's omitted)* 		Value
Basic Materials — 0.2%  
Ecolab, Inc., 2.125%, 8/15/50          664 $      636,890
LG Chem, Ltd.:      
3.25%, 10/15/24(1)        1,250     1,353,622
3.625%, 4/15/29(1)   575       649,142
      $    2,639,654
Communications — 1.4%  
Alphabet, Inc., 1.10%, 8/15/30          877 $      864,781
AT&T, Inc.:      
2.30%, 6/1/27   1 1,067
3.10%, 2/1/43   165 167,408
 
5

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted)* 		Value
Communications (continued)  
AT&T, Inc.: (continued)      
3.30%, 2/1/52   92 $       91,221
3.65%, 6/1/51   1,751     1,833,548
3.65%, 9/15/59(1)   111       111,553
3.80%, 12/1/57(1)   678       706,991
4.30%, 2/15/30   1,646     1,967,661
4.90%, 6/15/42   785       979,225
Charter Communications Operating, LLC/Charter Communications Operating Capital, 4.80%, 3/1/50        2,309     2,759,656
Comcast Corp.:      
2.45%, 8/15/52   1,213 1,181,628
4.70%, 10/15/48   350 487,694
Crown Castle Towers, LLC, 3.663%, 5/15/25(1)   450 485,925
Discovery Communications, LLC, 5.20%, 9/20/47   806 1,049,988
NBCUniversal Media, LLC, 4.45%, 1/15/43   405 530,757
Sprint Corp., 7.25%, 9/15/21   160 166,680
T-Mobile USA, Inc.:      
2.25%, 11/15/31(1)   161 165,543
2.55%, 2/15/31(1)   371 390,040
4.50%, 4/15/50(1)   860 1,062,324
      $15,003,690
Consumer, Cyclical — 1.4%  
American Airlines Pass-Through Trust:      
4.40%, 9/22/23   232 $176,234
5.25%, 1/15/24   984 838,343
Aptiv PLC, 5.40%, 3/15/49   115 143,679
Azul Investments, LLP, 5.875%, 10/26/24(1)(10)   445 416,969
Delta Air Lines, Inc.:      
3.625%, 3/15/22   719 739,897
7.375%, 1/15/26   1,238 1,415,073
Ford Motor Credit Co., LLC:      
1.044%, (3 mo. USD LIBOR + 0.81%), 4/5/21(2)   335 333,574
1.104%, (3 mo. USD LIBOR + 0.88%), 10/12/21(2)   910 899,257
1.296%, (3 mo. USD LIBOR + 1.08%), 8/3/22(2)   525 512,065
2.979%, 8/3/22   2,615 2,661,939
3.087%, 1/9/23   567 577,954
4.14%, 2/15/23   675 696,938
5.875%, 8/2/21   200 204,950
Macy's Retail Holdings, LLC:      
2.875%, 2/15/23   1,175 1,130,938
3.625%, 6/1/24   350 333,690
3.875%, 1/15/22   792 790,020
Magna International, Inc., 2.45%, 6/15/30   620 667,386
Security Principal
Amount
(000's omitted)* 		Value
Consumer, Cyclical (continued)  
Nordstrom, Inc.:      
4.375%, 4/1/30(10)        1,127 $    1,112,258
5.00%, 1/15/44   964       905,142
Tesla, Inc., 5.30%, 8/15/25(1)          113       117,944
      $   14,674,250
Consumer, Non-cyclical — 1.2%  
Ashtead Capital, Inc.:      
4.00%, 5/1/28(1)          200 $      212,928
4.25%, 11/1/29(1)   987 1,083,075
Becton Dickinson and Co., 2.894%, 6/6/22   404 417,661
Block Financial, LLC, 3.875%, 8/15/30(10)   936 1,011,409
Centene Corp.:      
3.375%, 2/15/30   472 497,325
4.25%, 12/15/27   473 502,475
4.625%, 12/15/29   74 82,251
Coca-Cola Femsa SAB de CV, 1.85%, 9/1/32   645 646,774
Conservation Fund (The), Green Bonds, 3.474%, 12/15/29   655 709,504
CVS Health Corp.:      
0.95%, (3 mo. USD LIBOR + 0.72%), 3/9/21(2)   88 88,104
3.00%, 8/15/26   1,400 1,552,335
4.30%, 3/25/28   785 934,954
CVS Pass-Through Trust, 6.036%, 12/10/28   671 779,686
Doris Duke Charitable Foundation (The), 2.345%, 7/1/50   1,705 1,648,782
Ford Foundation (The), 2.415%, 6/1/50   1,095 1,119,378
Kraft Heinz Foods Co., 4.375%, 6/1/46   830 898,051
Royalty Pharma PLC, 3.55%, 9/2/50(1)   88 94,104
Smithfield Foods, Inc.:      
3.00%, 10/15/30(1)   192 203,511
5.20%, 4/1/29(1)   90 107,202
      $12,589,509
Energy — 0.3%  
NuStar Logistics, L.P.:      
5.75%, 10/1/25   97 $103,451
6.00%, 6/1/26   509 551,362
6.375%, 10/1/30   334 378,981
TerraForm Power Operating, LLC:      
4.75%, 1/15/30(1)   715 766,630
5.00%, 1/31/28(1)   1,696 1,908,890
      $3,709,314
Financial — 7.0%  
AerCap Ireland Capital DAC/AerCap Global Aviation Trust:      
4.50%, 9/15/23   876 $950,306
4.625%, 10/15/27(10)   300 339,976
 
6

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted)* 		Value
Financial (continued)  
AerCap Ireland Capital DAC/AerCap Global Aviation Trust: (continued)      
6.50%, 7/15/25   413 $      494,016
Affiliated Managers Group, Inc., 3.30%, 6/15/30        1,131     1,229,493
Aflac, Inc., 3.60%, 4/1/30          743       875,099
Air Lease Corp., 2.875%, 1/15/26          816       864,043
Alliance Data Systems Corp., 4.75%, 12/15/24(1)          850       860,094
Andrew W. Mellon Foundation (The), 0.947%, 8/1/27          845       844,906
Australia & New Zealand Banking Group, Ltd., 2.95% to 7/22/25, 7/22/30(1)(11)        1,102     1,163,222
Banco BTG Pactual S.A., 4.50%, 1/10/25(1)   200 214,002
Banco Santander S.A., 2.746%, 5/28/25   200 213,684
Bank of America Corp.:      
0.981% to 9/25/24, 9/25/25(11)   1,139 1,152,662
1.197% to 10/24/25, 10/24/26(11)   1,638 1,660,210
1.389%, (3 mo. USD LIBOR + 1.18%), 10/21/22(2)   236 237,949
1.898% to 7/23/30, 7/23/31(11)   1,365 1,379,517
1.922% to 10/24/30, 10/24/31(11)   1,046 1,060,145
2.456% to 10/22/24, 10/22/25(11)   1,512 1,612,434
2.676% to 6/19/40, 6/19/41(11)   1,548 1,615,298
3.499% to 5/17/21, 5/17/22(11)   1,489 1,506,688
3.593% to 7/21/27, 7/21/28(11)   1,400 1,590,742
Series Z, 6.50% to 10/23/24(10)(11)(12)   76 87,020
Bank of Montreal, 2.05%, 11/1/22   1,898 1,959,644
Bank of Nova Scotia (The):      
1.625%, 5/1/23   1,053 1,083,605
2.375%, 1/18/23   1,362 1,419,039
BankUnited, Inc., 5.125%, 6/11/30   731 856,830
BBVA Bancomer S.A./Texas:      
1.875%, 9/18/25(1)   659 666,414
5.125% to 1/18/28, 1/18/33(1)(11)   200 215,800
Capital One Financial Corp.:      
3.30%, 10/30/24   419 460,453
3.75%, 7/28/26   290 328,944
4.20%, 10/29/25   575 656,512
Charles Schwab Corp. (The), 4.00% to 12/1/30(11)(12)   171 180,832
Citigroup, Inc.:      
0.776% to 10/30/23, 10/30/24(11)   1,600 1,611,158
1.296%, (3 mo. USD LIBOR + 1.07%), 12/8/21(2)   300 302,282
1.678% to 5/15/23, 5/15/24(11)   1,848 1,904,632
2.666% to 1/29/30, 1/29/31(11)   1,505 1,615,651
2.976% to 11/5/29, 11/5/30(11)   750 826,201
3.106% to 4/8/25, 4/8/26(11)   840 918,866
3.887% to 1/10/27, 1/10/28(11)   2,746 3,155,804
4.00% to 12/10/25(11)(12)   770 792,137
Citizens Bank NA, 2.55%, 5/13/21   400 402,480
Security Principal
Amount
(000's omitted)* 		Value
Financial (continued)  
Citizens Financial Group, Inc., 2.375%, 7/28/21          355 $      358,452
Commonwealth Bank of Australia:      
2.50%, 9/18/22(1)          550       570,707
3.61% to 9/12/29, 9/12/34(1)(10)(11)   487       535,761
Digital Realty Trust, L.P., 4.75%, 10/1/25          525       615,095
Discover Bank:      
2.70%, 2/6/30          399       423,968
4.682% to 8/9/23, 8/9/28(11)   605       643,608
Discover Financial Services:      
3.95%, 11/6/24   300 333,417
6.125% to 6/23/25(11)(12)   771 872,194
HAT Holdings I, LLC/HAT Holdings II, LLC:      
5.25%, 7/15/24(1)   921 959,664
6.00%, 4/15/25(1)   580 621,325
Iron Mountain, Inc.:      
4.50%, 2/15/31(1)   675 707,906
5.00%, 7/15/28(1)   219 232,935
JPMorgan Chase & Co.:      
2.522% to 4/22/30, 4/22/31(11)   1,465 1,575,767
2.739% to 10/15/29, 10/15/30(11)   485 528,190
2.956% to 5/13/30, 5/13/31(11)   358 392,937
Series S, 6.75% to 2/1/24(11)(12)   232 260,540
KKR Group Finance Co. VII, LLC, 3.625%, 2/25/50(1)   758 846,055
Lloyds Banking Group PLC, 2.438% to 2/5/25, 2/5/26(11)   860 908,916
Macquarie Bank, Ltd., 3.624%, 6/3/30(1)   744 815,687
Morgan Stanley:      
0.777%, (SOFR + 0.70%), 1/20/23(2)   2,321 2,330,325
1.615%, (3 mo. USD LIBOR + 1.40%), 10/24/23(2)   550 560,591
Series J, 4.047%, (3 mo. USD LIBOR + 3.81%) to 4/15/21(2)(12)   450 447,880
National Australia Bank, Ltd., 3.625%, 6/20/23   575 621,496
National Bank of Canada, 0.55% to 11/15/23, 11/15/24(11)   759 761,613
Nationwide Building Society, 3.96% to 7/18/29, 7/18/30(1)(11)   677 789,225
Newmark Group, Inc., 6.125%, 11/15/23   232 252,476
PNC Financial Services Group, Inc. (The), 2.20%, 11/1/24   5,700 6,059,897
Radian Group, Inc.:      
4.875%, 3/15/27   1,150 1,265,805
6.625%, 3/15/25   77 87,347
SBA Tower Trust, 3.722%, 4/9/48(1)   1,100 1,130,967
SITE Centers Corp., 3.625%, 2/1/25   517 537,491
Standard Chartered PLC:      
1.319% to 10/14/22, 10/14/23(1)(11)   459 464,210
6.00% to 7/26/25(1)(11)(12)   771 825,934
Stifel Financial Corp., 4.00%, 5/15/30   932 1,066,509
 
7

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted)* 		Value
Financial (continued)  
Synovus Bank/Columbus, GA:      
2.289% to 2/10/22, 2/10/23(11)        1,529 $    1,548,902
4.00% to 10/29/25, 10/29/30(11)   782       828,274
Synovus Financial Corp.:      
3.125%, 11/1/22          311       323,044
5.90% to 2/7/24, 2/7/29(11)   71        76,581
Truist Financial Corp., 5.10% to 3/1/30(11)(12)          986     1,128,980
UBS Group AG, 1.364% to 1/30/26, 1/30/27(1)(11)          265       268,100
UniCredit SpA, 5.459% to 6/30/30, 6/30/35(1)(11)   345 380,225
Visa, Inc., 2.00%, 8/15/50   799 763,132
Welltower, Inc., 2.75%, 1/15/31   629 671,618
Westpac Banking Corp., 2.668% to 11/15/30, 11/15/35(11)   561 578,621
      $75,281,157
Government - Multinational — 0.5%  
Asian Development Bank, 3.125%, 9/26/28   1,160 $1,360,701
International Bank for Reconstruction & Development, 3.125%, 11/20/25   2,600 2,936,266
International Finance Corp., 7.50%, 5/9/22 BRL 825 168,982
Nordic Investment Bank, 2.25%, 9/30/21   673 683,561
      $5,149,510
Industrial — 1.1%  
FedEx Corp., 4.55%, 4/1/46   700 $900,586
Flowserve Corp., 3.50%, 10/1/30   473 505,035
Jabil, Inc.:      
3.00%, 1/15/31   1,494 1,591,824
3.60%, 1/15/30   1,670 1,860,286
4.70%, 9/15/22   1,239 1,320,396
nVent Finance S.a.r.l., 4.55%, 4/15/28   1,965 2,136,659
Owens Corning:      
3.95%, 8/15/29   1,695 1,956,016
4.30%, 7/15/47   204 245,622
4.40%, 1/30/48   26 31,365
SMBC Aviation Capital Finance DAC, 2.65%, 7/15/21(1)   540 545,733
Valmont Industries, Inc.:      
5.00%, 10/1/44   110 127,659
5.25%, 10/1/54   675 795,710
      $12,016,891
Other Revenue — 0.2%  
BlueHub Loan Fund, Inc., 3.099%, 1/1/30   1,625 $1,631,874
      $1,631,874
Security Principal
Amount
(000's omitted)* 		Value
Technology — 0.6%  
DXC Technology Co.:      
4.00%, 4/15/23          821 $      873,830
4.125%, 4/15/25   644       712,326
4.75%, 4/15/27   153       175,235
Hewlett Packard Enterprise Co.:      
0.90%, (3 mo. USD LIBOR + 0.68%), 3/12/21(2)          516       516,468
0.958%, (3 mo. USD LIBOR + 0.72%), 10/5/21(2)   525       525,078
Microsoft Corp., 2.40%, 8/8/26          575       627,481
Seagate HDD Cayman:      
3.375%, 7/15/31(1)   510 513,715
4.091%, 6/1/29(1)   856 918,741
4.875%, 3/1/24   480 522,435
5.75%, 12/1/34   390 460,108
Western Digital Corp., 4.75%, 2/15/26   944 1,044,300
      $6,889,717
Utilities — 0.9%  
AES Corp. (The), 2.45%, 1/15/31(1)   1,364 $1,382,799
American Water Capital Corp., 2.95%, 9/1/27   750 830,130
Avangrid, Inc.:      
3.15%, 12/1/24   805 878,256
3.80%, 6/1/29   1,635 1,876,955
Consolidated Edison Co. of New York, Inc., 3.35%, 4/1/30   429 492,118
Enel Finance International NV, 2.65%, 9/10/24(1)   1,256 1,338,857
Engie Energia Chile S.A., 3.40%, 1/28/30(1)   200 217,000
MidAmerican Energy Co.:      
3.15%, 4/15/50   500 575,790
4.25%, 7/15/49   735 986,879
NextEra Energy Operating Partners, L.P., 4.25%, 9/15/24(1)   73 78,201
Niagara Mohawk Power Corp., 1.96%, 6/27/30(1)   586 604,389
Pattern Energy Operations, L.P./Pattern Energy Operations, Inc., 4.50%, 8/15/28(1)   46 48,284
Public Service Co. of Colorado, 3.70%, 6/15/28   548 639,552
Sempra Energy, 4.875% to 10/15/25(11)(12)   164 175,685
      $10,124,895
Total Corporate Bonds
(identified cost $150,581,427) 		    $159,710,461
    
 
8

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
High Social Impact Investments — 0.3%
    
Security Principal
Amount
(000's omitted) 		Value
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23(8)(13) $      2,500 $    2,409,950
ImpactAssets, Inc., Global Sustainable Agriculture Notes, 2.07%, 11/3/22(8)(14)          393       376,156
ImpactAssets, Inc., Microfinance Plus Notes, 0.46%, 11/3/22(8)(14)          506       419,621
Total High Social Impact Investments
(identified cost $3,399,000) 		    $    3,205,727
    
Preferred Stocks — 0.4%
    
Security Shares Value
Mortgage Real Estate Investment Trusts (REITs) — 0.0%(6)  
AGNC Investment Corp., Series F, 6.125% to 4/15/25(11)       15,800 $      377,462
      $      377,462
Oil, Gas & Consumable Fuels — 0.1%  
NuStar Energy, L.P., Series B, 7.625% to 6/15/22(11)       28,581 $      513,887
      $      513,887
Real Estate Management & Development — 0.1%  
Brookfield Property Partners, L.P.:      
Series A, 5.75%       33,000 $      706,200
Series A2, 6.375%   28,000 649,320
      $1,355,520
Venture Capital — 0.0%(6)  
Consensus Orthopedics, Inc.:      
Series A-1(5)(7)(8)   420,683 $0
Series B(5)(7)(8)   348,940 0
Series C(5)(7)(8)   601,710 0
Kickboard:      
Series A(5)(7)(8)   1,155,503 279,747
Series A2(5)(7)(8)   404,973 107,196
Lumni, Inc., Series B(5)(7)(8)   17,265 66,600
Wind Harvest Co., Inc.(5)(7)(8)   8,696 0
      $453,543
Security Shares Value
Wireless Telecommunication Services — 0.2%  
United States Cellular Corp.:      
5.50%       60,000 $    1,512,600
6.25%   4,575       121,466
      $    1,634,066
Total Preferred Stocks
(identified cost $5,012,443) 		    $    4,334,478
    
Senior Floating-Rate Loans — 0.8%(15)
    
Security Principal
Amount
(000's omitted) 		Value
Building and Development — 0.1%  
Cushman & Wakefield U.S. Borrower, LLC, Term Loan, 2.897%, (1 mo. USD LIBOR + 2.75%), 8/21/25 $        588 $      577,398
      $      577,398
Drugs — 0.1%  
Jaguar Holding Company II, Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), 8/18/22 $        894 $      894,320
      $      894,320
Electronics/Electrical — 0.2%  
Go Daddy Operating Company, LLC, Term Loan, 1.897%, (1 mo. USD LIBOR + 1.75%), 2/15/24 $        308 $      307,297
Hyland Software, Inc., Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 7/1/24          592       594,271
MA FinanceCo., LLC, Term Loan, 2.897%, (1 mo. USD LIBOR + 2.75%), 6/21/24   37 36,648
Seattle Spinco, Inc., Term Loan, 2.897%, (1 mo. USD LIBOR + 2.75%), 6/21/24   250 247,496
SolarWinds Holdings, Inc., Term Loan, 2.897%, (1 mo. USD LIBOR + 2.75%), 2/5/24   196 187,999
SS&C European Holdings S.a.r.l., Term Loan, 4/16/25(16)   90 88,814
SS&C Technologies, Inc., Term Loan, 4/16/25(16)   116 114,780
Ultimate Software Group, Inc. (The), Term Loan, 5/4/26(16)   778 778,778
      $2,356,083
Equipment Leasing — 0.0%(6)  
Avolon TLB Borrower 1 (US), LLC, Term Loan, 2.50%, (1 mo. USD LIBOR + 1.75%, Floor 0.75%), 1/15/25 $ 305 $302,842
      $302,842
Health Care — 0.1%  
Change Healthcare Holdings, LLC, Term Loan, 3.50%, (USD LIBOR + 2.50%, Floor 1.00%), 3/1/24(17) $ 837 $834,208
      $834,208
 
9

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted) 		Value
Insurance — 0.1%  
Asurion, LLC:      
Term Loan, 12/23/26(16) $        150 $      148,781
Term Loan, 3.147%, (1 mo. USD LIBOR + 3.00%), 11/3/23   313       311,976
USI, Inc., Term Loan, 5/16/24(16)          835       824,623
      $    1,285,380
Leisure Goods/Activities/Movies — 0.0%(6)  
Bombardier Recreational Products, Inc., Term Loan, 2.147%, (1 mo. USD LIBOR + 2.00%), 5/24/27 $        167 $      165,014
      $      165,014
Lodging and Casinos — 0.0%(6)  
ESH Hospitality, Inc., Term Loan, 2.147%, (1 mo. USD LIBOR + 2.00%), 9/18/26 $ 97 $95,708
      $95,708
Telecommunications — 0.2%  
CenturyLink, Inc., Term Loan, 2.397%, (1 mo. USD LIBOR + 2.25%), 3/15/27 $ 842 $833,033
Level 3 Financing, Inc., Term Loan, 1.897%, (1 mo. USD LIBOR + 1.75%), 3/1/27   175 173,030
Ziggo Financing Partnership, Term Loan, 2.659%, (1 mo. USD LIBOR + 2.50%), 4/30/28   845 839,191
      $1,845,254
Total Senior Floating-Rate Loans
(identified cost $8,390,798) 		    $8,356,207
    
Sovereign Government Bonds — 0.3%
    
Security Principal
Amount
(000's omitted) 		Value
Kreditanstalt fuer Wiederaufbau:      
0.75%, 9/30/30 $        591 $      578,269
2.00%, 9/29/22   1,410     1,454,901
Kuntarahoitus Oyj, 1.375%, 9/21/21(1)          204       205,651
Nederlandse Waterschapsbank NV, 2.125%, 11/15/21(1)          580       589,586
Total Sovereign Government Bonds
(identified cost $2,838,819) 		    $    2,828,407
    
Taxable Municipal Obligations — 1.5%
    
Security Principal
Amount
(000's omitted) 		Value
General Obligations — 0.4%  
Los Angeles Unified School District, CA, 5.75%, 7/1/34(18) $        800 $    1,129,680
Massachusetts, Green Bonds, 3.277%, 6/1/46          880     1,022,173
New York City, NY, 5.206%, 10/1/31(18)        1,275     1,608,948
San Francisco City and County, CA, (Social Bonds - Affordable Housing, 2016), 3.921%, 6/15/39          630       709,833
      $    4,470,634
Special Tax Revenue — 0.5%  
California Health Facilities Financing Authority, (No Place Like Home Program):      
2.361%, 6/1/26 $        935 $      999,842
2.484%, 6/1/27   665 714,722
2.534%, 6/1/28   830 891,345
2.584%, 6/1/29   455 488,980
2.984%, 6/1/33   520 557,638
Connecticut, Special Tax Revenue, 5.459%, 11/1/30(18)   400 495,336
New York City Transitional Finance Authority, NY, Future Tax Secured Revenue Bonds, 5.767%, 8/1/36(18)   1,000 1,304,290
      $5,452,153
Water and Sewer — 0.6%  
District of Columbia Water & Sewer Authority, Green Bonds, 4.814%, 10/1/2114 $ 270 $402,489
Narragansett Bay Commission, RI, Wastewater System Revenue, Green Bonds:      
2.094%, 9/1/30   430 453,560
2.184%, 9/1/31   345 356,823
2.264%, 9/1/32   305 314,361
2.344%, 9/1/33   335 346,025
San Diego County Water Authority, CA:      
Green Bonds, 1.531%, 5/1/30   360 367,376
Green Bonds, 1.701%, 5/1/31   320 328,339
Green Bonds, 1.951%, 5/1/34   190 193,471
San Francisco City and County Public Utilities Commission, CA, Water Revenue, Green Bonds, 3.303%, 11/1/39   3,420 3,653,518
      $6,415,962
Total Taxable Municipal Obligations
(identified cost $14,888,510) 		    $16,338,749
    
 
10

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
U.S. Government Agencies and Instrumentalities — 0.5%
    
Security Principal
Amount
(000's omitted) 		Value
U.S. Department of Housing and Urban Development:      
2.547%, 8/1/22 $        305 $      316,464
2.618%, 8/1/23          153       162,066
2.668%, 8/1/24          534       573,929
2.738%, 8/1/25          534       589,099
3.435%, 8/1/34          530       615,151
3.485%, 8/1/35          295       343,924
3.585%, 8/1/37          547       642,148
U.S. International Development Finance Corp.:      
3.22%, 9/15/29   776 868,037
3.52%, 9/20/32   796 916,400
Total U.S. Government Agencies and Instrumentalities
(identified cost $4,602,921) 		    $5,027,218
    
U.S. Government Agency Mortgage-Backed Securities — 3.7%
    
Security Principal
Amount
(000's omitted) 		Value
Federal Home Loan Mortgage Corp., 3.50%, 3/1/48 $        591 $      627,415
Federal National Mortgage Association:      
30-Year, 2.00%, TBA(19)        3,785     3,935,199
30-Year, 2.50%, TBA(19)   14,125    14,896,904
30-Year, 3.00%, TBA(19)   15,410    16,147,380
Pool #AN1879, 2.65%, 6/1/26   599       653,754
Pool #AN1909, 2.68%, 7/1/26   650       711,574
Pool #BM3990, 4.00%, 3/1/48   1,266     1,356,983
Pool #MA3149, 4.00%, 10/1/47   1,783     1,912,957
Total U.S. Government Agency Mortgage-Backed Securities
(identified cost $39,928,451) 		  $40,242,166
    
U.S. Treasury Obligations — 3.6%
    
Security Principal
Amount
(000's omitted) 		Value
U.S. Treasury Bonds:      
1.125%, 8/15/40 $        234 $      221,240
1.375%, 8/15/50   797       744,946
2.00%, 2/15/50   705       764,292
2.375%, 11/15/49   275       322,470
2.875%, 5/15/49   815     1,050,395
3.125%, 5/15/48   371       497,169
U.S. Treasury Inflation-Protected Bond, 0.25%, 2/15/50(20)        3,116      3,719,527
Security Principal
Amount
(000's omitted) 		Value
U.S. Treasury Inflation-Protected Notes:      
0.125%, 4/15/25(20) $        184 $      197,422
0.75%, 7/15/28(20)   10,455    12,164,417
U.S. Treasury Notes:      
0.25%, 5/31/25        2,150     2,145,717
0.25%, 6/30/25   1,055     1,052,198
0.25%, 10/31/25   1,074     1,069,259
0.375%, 11/30/25   3,450     3,454,312
0.625%, 5/15/30   1,266     1,237,119
0.625%, 8/15/30   953 928,728
0.875%, 11/15/30   2,361 2,352,146
1.125%, 2/28/22   6,170 6,243,992
1.625%, 12/31/21   950 964,345
Total U.S. Treasury Obligations
(identified cost $37,163,656) 		    $39,129,694
    
Venture Capital Debt Obligations — 0.0%(6)
    
Security Principal
Amount
(000's omitted) 		Value
Kickboard Bridge Note, 8.00%, 4/6/21(7)(8) $         41 $       40,196
Total Venture Capital Debt Obligations
(identified cost $41,000) 		    $       40,196
    
Venture Capital Limited Partnership Interests — 0.0%(6)
    
Security   Value
First Analysis Private Equity Fund IV, L.P.(5)(7)(8)     $      224,732
GEEMF Partners, L.P.(5)(7)(8)(13)            11,372
Global Environment Emerging Markets Fund, L.P.(5)(7)(8)            31,781
Solstice Capital, L.P.(5)(7)(8)            24,762
Total Venture Capital Limited Partnership Interests
(identified cost $0) 		    $      292,647
    
 
11

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Short-Term Investments — 2.9%      
Other — 2.8%
Description Units Value
Calvert Cash Reserves Fund, LLC, 0.12%(21)   29,969,359 $   29,972,355
Total Other
(identified cost $29,972,355) 		    $   29,972,355
Securities Lending Collateral — 0.1%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 0.08%(22)    1,472,985 $    1,472,985
Total Securities Lending Collateral
(identified cost $1,472,985) 		    $    1,472,985
Total Short-Term Investments
(identified cost $31,445,340) 		    $   31,445,340
Total Investments — 104.0%
(identified cost $894,793,839) 		    $1,118,274,573
Other Assets, Less Liabilities — (4.0)%     $  (42,843,086)
Net Assets — 100.0%     $1,075,431,487
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.  
* In U.S. dollars unless otherwise indicated.
(1) Security exempt from registration under Rule 144A of 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 December 31, 2020, the aggregate value of these securities is $99,436,168 or 9.2% of the Fund's net assets.
(2) Variable rate security. The stated interest rate represents the rate in effect at December 31, 2020.
(3) Step coupon security. Interest rate represents the rate in effect at December 31, 2020.
(4) Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at December 31, 2020.
(5) Non-income producing security.
(6) Amount is less than 0.05%.
(7) For fair value measurement disclosure purposes, security is categorized as Level 3.
(8) Restricted security. Total market value of restricted securities amounts to $6,177,236, which represents 0.5% of the net assets of the Fund as of December 31, 2020.
(9) Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At December 31, 2020, the aggregate value of these securities is $187,856 or less than 0.05% of the Fund’s net assets.
(10) All or a portion of this security was on loan at December 31, 2020. The aggregate market value of securities on loan at December 31, 2020 was $1,762,880 and the total market value of the collateral received by the Fund was $1,810,943, comprised of cash of $1,472,985 and U.S. government and/or agencies securities of $337,958.
(11) Security converts to variable rate after the indicated fixed-rate coupon period.
(12) Perpetual security with no stated maturity date but may be subject to calls by the issuer.
(13) Affiliated company.
(14) Notes carry an interest rate that varies by period and is contingent on the performance of the underlying portfolio of loans to borrowers. The coupon rate shown represents the rate in effect at December 31, 2020.
(15) Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to a base lending rate, plus a spread. These base lending rates are primarily the London Interbank Offered Rate ("LIBOR") and secondarily, the prime rate offered by one or more major United States banks (the "Prime Rate"). Base lending rates may be subject to a floor, or minimum rate. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold.
(16) This Senior Loan will settle after December 31, 2020, at which time the interest rate will be determined.
(17) The stated interest rate represents the weighted average interest rate at December 31, 2020 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period.
(18) Build America Bond. Represents taxable municipal obligation issued pursuant to the American Recovery and Reinvestment Act of 2009 or other legislation providing for the issuance of taxable municipal debt on which the issuer receives federal support.
(19) TBA (To Be Announced) securities are purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date are determined upon settlement.
(20) Inflation-linked security whose principal is adjusted for inflation based on changes in the U.S. Consumer Price Index. Interest is calculated based on the inflation-adjusted principal.
(21) Affiliated investment company, available to Calvert 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 December 31, 2020.
(22) Represents investment of cash collateral received in connection with securities lending.
 
12

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Forward Foreign Currency Exchange Contracts
Currency Purchased Currency Sold Counterparty Settlement
Date 		Unrealized
Appreciation 		Unrealized
(Depreciation)
USD 15,261 EUR 12,817 State Street Bank and Trust Company 2/26/21 $ — $(416)
            $ — $(416)
Futures Contracts
Description Number of
Contracts 		Position Expiration
Date 		Notional
Amount 		Value/
Unrealized
Appreciation
(Depreciation)
Interest Rate Futures          
U.S. 2-Year Treasury Note 8 Long 3/31/21 $1,767,813 $1,737
U.S. Long Treasury Bond 26 Long 3/22/21 4,502,875 (15,986)
U.S. Ultra-Long Treasury Bond 58 Long 3/22/21 12,386,625 (172,187)
U.S. 5-Year Treasury Note (9) Short 3/31/21 (1,135,477) (2,688)
U.S. Long Treasury Bond (2) Short 3/22/21 (346,375) 3,184
U.S. Ultra 10-Year Treasury Note (386) Short 3/22/21 (60,354,719) 171,266
U.S. Ultra-Long Treasury Bond (9) Short 3/22/21 (1,922,062) 18,022
          $3,348
Restricted Securities
Description Acquisition Dates Cost
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23 12/14/20 $2,500,000
CFBanc Corp., Common Stock 3/14/03 270,000
Consensus Orthopedics, Inc., Common Stock 2/10/06 504,331
Consensus Orthopedics, Inc., Series A-1, Preferred 8/19/05 4,331
Consensus Orthopedics, Inc., Series B, Preferred 2/10/06 139,576
Consensus Orthopedics, Inc., Series C, Preferred 2/10/06 120,342
First Analysis Private Equity Fund IV, L.P. 2/25/02-7/6/11 0
GEEMF Partners, L.P. 2/28/97 0
Global Environment Emerging Markets Fund, L.P. 1/14/94-2/1/95 0
ImpactAssets, Inc., Global Sustainable Agriculture Notes, 2.07%, 11/3/22 11/13/15 393,000
ImpactAssets, Inc., Microfinance Plus Notes, 0.46%, 11/3/22 11/13/15 506,000
Kickboard, Common Stock 5/23/13 0
Kickboard, Series A, Preferred 2/12/13 285,328
Kickboard, Series A2, Preferred 6/19/14 100,000
Kickboard Bridge Note, 8.00%, 4/6/21 9/16/15 41,000
Learn Capital Venture Partners III, L.P., Common Stock 8/30/16-12/4/20 1,024,486
Lumni, Inc., Series B, Preferred 8/8/13 116,367
Neighborhood Bancorp, Class A, Common Stock 6/25/97 100,000
Solstice Capital, L.P. 6/26/01-6/17/08 0
Wind Harvest Co., Inc., Preferred 5/16/94 100,000
    
13

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Abbreviations: 
ADR – American Depositary Receipt
LIBOR – London Interbank Offered Rate
SOFR – Secured Overnight Financing Rate
TBA – To Be Announced
    
Currency Abbreviations: 
BRL – Brazilian Real
EUR – Euro
USD – United States Dollar
14

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
In the normal course of pursuing its investment objective, the Fund is subject to the following risks:
Foreign Exchange Risk: The Fund enters into forward foreign currency exchange contracts to enhance return, to seek to hedge against fluctuations in currency exchange rates and/or as a substitute for the purchase or sale of securities or currencies.
Interest Rate Risk: The Fund enters into futures contracts to hedge against fluctuations in interest rates and to manage overall duration.
At December 31, 2020, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
At December 31, 2020, the value of the Fund's investment in Calvert Impact Capital, Inc. (the Notes) and other affiliated companies/funds was $32,393,677, which represents 3.0% of the Fund's net assets. Transactions in the Notes and other affiliated companies/funds by the Fund for the fiscal year to date ended December 31, 2020 were as follows:
Name Value,
beginning
of period 		Purchases Sales
proceeds 		Net
realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Value,
end of
period 		Interest/
Dividend
income 		Principal
amount/Units,
end of period
High Social Impact Investments                
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/20(1) $ 2,602,270 $ — $ (2,615,531) $ — $ 13,261 $ — $ 8,174 $ —
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23(1)  —  2,500,000   —  — (90,050)  2,409,950  1,667    2,500,000
Venture Capital Limited Partnership Interests                
GEEMF Partners, L.P.(1)(2)(3)     11,713  —   —  —    (341)     11,372  —          —
Short-Term Investments                
Calvert Cash Reserves Fund, LLC 33,089,296 66,155,591 (69,272,532) (1,628)   1,628 29,972,355  9,428 29,969,359
Totals       $(1,628) $(75,502) $32,393,677 $19,269  
    
(1) Restricted security.
(2) For fair value measurement disclosure purposes, security is categorized as Level 3.
(3) Non-income producing security.
U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
Level 1 - quoted prices in active markets for identical securities
Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following table summarizes the market value of the Fund's holdings as of December 31, 2020, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3(1) Total
Asset-Backed Securities $— $52,204,166 $— $52,204,166
Collateralized Mortgage Obligations — 15,842,073 — 15,842,073
Commercial Mortgage-Backed Securities — 45,898,270 — 45,898,270
Common Stocks 690,276,377(2) — — 690,276,377
Common Stocks - Venture Capital — — 2,185,123 2,185,123
Convertible Bonds — 862,144 — 862,144
Convertible Preferred Stocks 55,130 — — 55,130
Corporate Bonds — 159,710,461 — 159,710,461
High Social Impact Investments — 3,205,727 — 3,205,727
15

 

Calvert
Balanced Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Asset Description Level 1 Level 2 Level 3(1) Total
Preferred Stocks $3,880,935 $— $— $3,880,935
Preferred Stocks - Venture Capital — — 453,543 453,543
Senior Floating-Rate Loans — 8,356,207 — 8,356,207
Sovereign Government Bonds — 2,828,407 — 2,828,407
Taxable Municipal Obligations — 16,338,749 — 16,338,749
U.S. Government Agencies and Instrumentalities — 5,027,218 — 5,027,218
U.S. Government Agency Mortgage-Backed Securities — 40,242,166 — 40,242,166
U.S. Treasury Obligations — 39,129,694 — 39,129,694
Venture Capital Debt Obligations — — 40,196 40,196
Venture Capital Limited Partnership Interests — — 292,647 292,647
Short-Term Investments:        
Other  — 29,972,355 — 29,972,355
Securities Lending Collateral 1,472,985 — — 1,472,985
Total Investments $695,685,427 $419,617,637 $2,971,509 $1,118,274,573
Futures Contracts $194,209 $ — $ — $194,209
Total $695,879,636 $419,617,637 $2,971,509 $1,118,468,782
Liability Description        
Forward Foreign Currency Exchange Contracts $ — $(416) $ — $(416)
Futures Contracts (190,861)  —  — (190,861)
Total $(190,861) $(416) $ — $(191,277)
    
(1) None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund.
(2) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the fiscal year to date ended December 31, 2020 is not presented.
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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