NPORT-EX 2 NPORT_D8BC_82541364_0923.htm
Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited)
Asset-Backed Securities — 6.3%
    
Security Principal
Amount
(000's omitted)* 		Value
Business Jet Securities, LLC, Series 2020-1A, Class A, 2.981%, 11/15/35(1)          23 $     21,777
Coinstar Funding, LLC, Series 2017-1A, Class A2, 5.216%, 4/25/47(1)         433      362,223
Cologix Data Centers US Issuer, LLC:      
Series 2021-1A, Class A2, 3.30%, 12/26/51(1)         600      529,299
Series 2021-1A, Class B, 3.79%, 12/26/51(1)   350      304,088
Conn's Receivables Funding, LLC:      
Series 2021-A, Class C, 4.59%, 5/15/26(1)          98       98,113
Series 2022-A, Class B, 9.52%, 12/15/26(1)   638      641,139
Series 2022-A, Class C, 0.00%, 12/15/26(1)   600      512,422
DataBank Issuer, Series 2021-2A, Class A2, 2.40%, 10/25/51(1)   283 244,205
DB Master Finance, LLC, Series 2017-1A, Class A2II, 4.03%, 11/20/47(1)   80 73,202
Diamond Infrastructure Funding, LLC:      
Series 2021-1A, Class A, 1.76%, 4/15/49(1)   415 355,252
Series 2021-1A, Class C, 3.475%, 4/15/49(1)   99 86,160
Diamond Issuer, Series 2021-1A, Class A, 2.305%, 11/20/51(1)   782 666,903
Driven Brands Funding, LLC:      
Series 2018-1A, Class A2, 4.739%, 4/20/48(1)   84 81,454
Series 2019-1A, Class A2, 4.641%, 4/20/49(1)   85 80,360
Enterprise Fleet Financing, LLC, Series 2023-1, Class A2, 5.51%, 1/22/29(1)   715 709,409
ExteNet, LLC:      
Series 2019-1A, Class A2, 3.204%, 7/25/49(1)   345 331,786
Series 2019-1A, Class B, 4.14%, 7/25/49(1)   55 52,799
Federal National Mortgage Association Grantor Trust, Series 2017-T1, Class A, 2.898%, 6/25/27   273 250,185
FMC GMSR Issuer Trust:      
Series 2021-GT1, Class A, 3.62%, 7/25/26(1)(2)   100 82,237
Series 2021-GT2, Class A, 3.85%, 10/25/26(1)(2)   420 345,687
Series 2022-GT1, Class A, 6.19%, 4/25/27(1)   100 92,979
Series 2022-GT2, Class A, 7.90%, 7/25/27(1)   350 345,399
FOCUS Brands Funding, LLC, Series 2017-1A, Class A2II, 5.093%, 4/30/47(1)   169 156,446
GoodLeap Sustainable Home Solutions Trust, Series 2021-5CS, Class A, 2.31%, 10/20/48(1)   205 154,377
Hardee's Funding, LLC, Series 2020-1A, Class A2, 3.981%, 12/20/50(1)   175 147,761
Jersey Mike's Funding, Series 2019-1A, Class A2, 4.433%, 2/15/50(1)   279 256,918
JPMorgan Chase Bank, NA:      
Series 2021-2, Class B, 0.889%, 12/26/28(1)   98 95,521
Series 2021-3, Class B, 0.76%, 2/26/29(1)   122 116,419
LAD Auto Receivables Trust, Series 2023-1A, Class A2, 5.68%, 10/15/26(1)   150 149,936
Loanpal Solar Loan, Ltd., Series 2020-1GS, Class C, 2.00%, 6/20/47(1)   74 44,425
Security Principal
Amount
(000's omitted)* 		Value
Marlette Funding Trust, Series 2023-1A, Class A, 6.07%, 4/15/33(1)         473 $    472,307
Mill City Solar Loan, Ltd., Series 2020-1A, Class C, 2.00%, 6/20/47(1)         151       99,493
Mosaic Solar Loan Trust:      
Series 2019-1A, Class A, 4.37%, 12/21/43(1)         166      150,026
Series 2019-2A, Class B, 3.28%, 9/20/40(1)   394      340,950
Series 2020-1A, Class A, 2.10%, 4/20/46(1)   46       38,602
Series 2020-1A, Class B, 3.10%, 4/20/46(1)   46       39,050
Series 2020-2A, Class A, 1.44%, 8/20/46(1)   83       66,897
Series 2020-2A, Class B, 2.21%, 8/20/46(1)   98       76,538
Series 2021-1A, Class C, 2.25%, 12/20/46(1)   422 370,844
Series 2021-3A, Class C, 1.77%, 6/20/52(1)   100 79,813
Series 2022-2A, Class D, 8.29%, 1/21/53(1)   100 83,784
Neighborly Issuer, LLC, Series 2021-1A, Class A2, 3.584%, 4/30/51(1)   381 319,358
NRZ Excess Spread-Collateralized Notes, Series 2021-GNT1, Class A, 3.474%, 11/25/26(1)   512 461,941
OneMain Financial Issuance Trust, Series 2022-S1, Class A, 4.13%, 5/14/35(1)   495 475,497
Oportun Funding XIV, LLC, Series 2021-A, Class B, 1.76%, 3/8/28(1)   65 62,029
Oportun Funding, LLC, Series 2022-1, Class A, 3.25%, 6/15/29(1)   99 97,855
Oportun Issuance Trust:      
Series 2021-B, Class A, 1.47%, 5/8/31(1)   361 329,857
Series 2021-B, Class C, 3.65%, 5/8/31(1)   100 91,855
Series 2021-C, Class A, 2.18%, 10/8/31(1)   1,850 1,683,672
Series 2021-C, Class B, 2.67%, 10/8/31(1)   220 197,855
Series 2022-2, Class C, 9.36%, 10/9/29(1)   125 125,077
Series 2022-3, Class B, 8.533%, 1/8/30(1)   390 393,943
Pagaya AI Debt Selection Trust:      
Series 2021-2, 3.00%, 1/25/29(1)   153 147,616
Series 2021-3, Class A, 1.15%, 5/15/29(1)   63 63,249
Series 2021-5, Class A, 1.53%, 8/15/29(1)   122 120,393
Series 2021-HG1, Class A, 1.22%, 1/16/29(1)   75 72,247
Planet Fitness Master Issuer, LLC, Series 2019-1A, Class A2, 3.858%, 12/5/49(1)   270 225,412
Prosper Marketplace Issuance Trust, Series 2019-4A, Class C, 4.95%, 2/17/26(1)   6 6,143
Retained Vantage Data Centers Issuer, LLC:      
Series 2023-1A, Class A2A, 5.00%, 9/15/48(1)   675 609,836
Series 2023-1A, Class A2B, 5.25%, 9/15/48(1) CAD 150 98,163
Series 2023-1A, Class B, 5.75%, 9/15/48(1)   95 84,711
ServiceMaster Funding, LLC:      
Series 2020-1, Class A2I, 2.841%, 1/30/51(1)   153 129,799
Series 2020-1, Class A2II, 3.337%, 1/30/51(1)   173 136,361
SERVPRO Master Issuer, LLC, Series 2019-1A, Class A2, 3.882%, 10/25/49(1)   914 838,335
SoFi Consumer Loan Program Trust, Series 2023-1S, Class A, 5.81%, 5/15/31(1)   111 111,040
 
1

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted)* 		Value
SolarCity LMC Series I, LLC, Series 2013-1, Class A, 4.80%, 11/20/38(1)         162 $    161,672
Sonic Capital, LLC, Series 2020-1A, Class A2I, 3.845%, 1/20/50(1)         506      459,965
SpringCastle America Funding, LLC, Series 2020-AA, Class A, 1.97%, 9/25/37(1)         189      171,561
Stack Infrastructure Issuer, LLC:      
Series 2019-1A, Class A2, 4.54%, 2/25/44(1)         817      809,652
Series 2019-2A, Class A2, 3.08%, 10/25/44(1)   200      191,818
Series 2020-1A, Class A2, 1.893%, 8/25/45(1)   247      224,424
Sunnova Helios IX Issuer, LLC, Series 2022-B, Class A, 5.00%, 8/20/49(1)         249      233,493
Sunnova Helios V Issuer, LLC, Series 2021-A, Class A, 1.80%, 2/20/48(1)         283      238,365
Sunnova Helios X Issuer, LLC, Series 2022-C, Class B, 5.60%, 11/22/49(1)   474 443,688
Sunnova Helios XII Issuer, LLC, Series 2023-B, Class A, 5.30%, 8/22/50(1)   453 432,254
Sunnova Sol II Issuer, LLC, Series 2020-2A, Class A, 2.73%, 11/1/55(1)   696 548,391
Sunnova Sol Issuer, LLC, Series 2020-1A, Class A, 3.35%, 2/1/55(1)   94 78,706
Sunrun Atlas Issuer, LLC, Series 2019-2, Class A, 3.61%, 2/1/55(1)   196 170,946
Sunrun Callisto Issuer, LLC, Series 2015-1A, Class B, 5.38%, 7/20/45(1)   263 250,592
Sunrun Demeter Issuer, LLC, Series 2021-2A, Class A, 2.27%, 1/30/57(1)   241 191,110
Sunrun Jupiter Issuer, LLC, Series 2022-1A, Class A, 4.75%, 7/30/57(1)   687 598,716
Sunrun Xanadu Issuer, LLC, Series 2019-1A, Class A, 3.98%, 6/30/54(1)   149 130,698
Theorem Funding Trust:      
Series 2021-1A, Class B, 1.84%, 12/15/27(1)   92 89,954
Series 2022-3A, Class A, 7.60%, 4/15/29(1)   112 112,241
United States Small Business Administration, Series 2017-20E, Class 1, 2.88%, 5/1/37   389 346,110
Upstart Pass-Through Trust, Series 2020-ST1, Class A, 3.75%, 2/20/28(1)   36 36,001
Vantage Data Centers Issuer, LLC:      
Series 2019-1A, Class A2, 3.188%, 7/15/44(1)   288 279,544
Series 2020-2A, Class A2, 1.992%, 9/15/45(1)   735 615,693
Series 2021-1A, Class A2, 2.165%, 10/15/46(1)   224 196,320
Vivint Solar Financing VII, LLC, Series 2020-1A, Class A, 2.21%, 7/31/51(1)   357 280,304
Willis Engine Structured Trust V, Series 2020-A, Class B, 4.212%, 3/15/45(1)   203 163,637
Total Asset-Backed Securities
(identified cost $25,665,160) 		    $23,545,284
    
Collateralized Mortgage Obligations — 1.4%
    
Security Principal
Amount
(000's omitted) 		Value
Bellemeade Re, Ltd.:      
Series 2021-1A, Class M1A, 7.065%, (30-day average SOFR + 1.75%), 3/25/31(1)(3) $         4 $      3,913
Series 2021-1A, Class M1B, 7.515%, (30-day average SOFR + 2.20%), 3/25/31(1)(3)   155      156,071
Series 2021-1A, Class M1C, 8.265%, (30-day average SOFR + 2.95%), 3/25/31(1)(3)   150      152,882
Series 2021-2A, Class M1A, 6.515%, (30-day average SOFR + 1.20%), 6/25/31(1)(3)   163      162,929
Series 2021-3A, Class A2, 6.315%, (30-day average SOFR + 1.00%), 9/25/31(1)(3)   215      213,261
Series 2021-3A, Class M1B, 6.715%, (30-day average SOFR + 1.40%), 9/25/31(1)(3)   170      167,977
Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% to 7/25/27, 8/25/54(1)(4)         402      353,166
CHNGE Mortgage Trust:      
Series 2023-2, Class A3, 7.436% to 5/25/26, 6/25/58(1)(4)   277 272,768
Series 2023-4, Class A1, 7.573% to 8/25/26, 9/25/58(1)(4)   354 355,601
Eagle Re, Ltd., Series 2021-2, Class M1C, 8.765%, (30-day average SOFR + 3.45%), 4/25/34(1)(3)   150 153,569
Federal Home Loan Mortgage Corp., Series 5324, Class MZ, 6.00%, 7/25/53   36 32,947
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes:      
Series 2019-DNA3, Class B2, 13.579%, (30-day average SOFR + 8.264%), 7/25/49(1)(3)   85 94,416
Series 2019-DNA4, Class M2, 7.379%, (30-day average SOFR + 2.064%), 10/25/49(1)(3)   7 7,019
Series 2019-HQA4, Class B1, 8.379%, (30-day average SOFR + 3.064%), 11/25/49(1)(3)   19 19,894
Series 2020-DNA6, Class B1, 8.315%, (30-day average SOFR + 3.00%), 12/25/50(1)(3)   25 25,125
Series 2020-HQA2, Class B1, 9.529%, (30-day average SOFR + 4.214%), 3/25/50(1)(3)   41 44,711
Series 2021-DNA2, Class B1, 8.715%, (30-day average SOFR + 3.40%), 8/25/33(1)(3)   55 56,526
Series 2021-DNA3, Class M1, 6.065%, (30-day average SOFR + 0.75%), 10/25/33(1)(3)   53 52,593
Series 2022-DNA2, Class M1A, 6.615%, (30-day average SOFR + 1.30%), 2/25/42(1)(3)   242 241,957
Federal National Mortgage Association Connecticut Avenue Securities:      
Series 2013-C01, Class M2, 10.679%, (30-day average SOFR + 5.364%), 10/25/23(3)   94 94,903
Series 2014-C02, Class 2M2, 8.029%, (30-day average SOFR + 2.714%), 5/25/24(3)   33 33,168
Series 2014-C03, Class 2M2, 8.329%, (30-day average SOFR + 3.014%), 7/25/24(3)   43 43,098
Series 2018-R07, Class 1M2, 7.829%, (30-day average SOFR + 2.514%), 4/25/31(1)(3)   8 8,514
Series 2019-R01, Class 2B1, 9.779%, (30-day average SOFR + 4.464%), 7/25/31(1)(3)   55 58,602
Series 2019-R02, Class 1B1, 9.579%, (30-day average SOFR + 4.264%), 8/25/31(1)(3)   54 56,673
 
2

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted) 		Value
Federal National Mortgage Association Connecticut Avenue Securities: (continued)      
Series 2019-R03, Class 1B1, 9.529%, (30-day average SOFR + 4.214%), 9/25/31(1)(3) $ 55 $     58,049
Series 2019-R05, Class 1B1, 9.529%, (30-day average SOFR + 4.214%), 7/25/39(1)(3)   70       72,547
Series 2019-R06, Class 2B1, 9.179%, (30-day average SOFR + 3.864%), 9/25/39(1)(3)   308      316,227
Series 2019-R07, Class 1B1, 8.829%, (30-day average SOFR + 3.514%), 10/25/39(1)(3)   109      111,767
Series 2020-R02, Class 2B1, 8.429%, (30-day average SOFR + 3.114%), 1/25/40(1)(3)   405      409,381
Series 2021-R01, Class 1B2, 11.315%, (30-day average SOFR + 6.00%), 10/25/41(1)(3)   142      144,900
Series 2021-R02, Class 2B1, 8.615%, (30-day average SOFR + 3.30%), 11/25/41(1)(3)   12       12,340
Government National Mortgage Association:      
Series 2023-84, Class DL, 6.00%, 6/20/53   163 159,348
Series 2023-84, Class MW, 6.00%, 6/20/53   171 167,104
Series 2023-98, Class BW, 6.00%, 7/20/53   25 24,458
Series 2023-99, Class AL, 6.00%, 7/20/53   25 24,452
Home Re, Ltd.:      
Series 2018-1, Class M2, 8.434%, (30-day average SOFR + 3.00%), 10/25/28(1)(3)   154 155,496
Series 2021-1, Class M2, 8.284%, (30-day average SOFR + 2.964%), 7/25/33(1)(3)   150 150,431
PNMAC GMSR Issuer Trust, Series 2022-FT1, Class A, 9.505%, (30-day average SOFR + 4.19%), 6/25/27(1)(3)   523 523,843
Total Collateralized Mortgage Obligations
(identified cost $5,180,509) 		    $5,192,626
    
Commercial Mortgage-Backed Securities — 4.4%
    
Security Principal
Amount
(000's omitted) 		Value
BAMLL Commercial Mortgage Securities Trust:      
Series 2019-BPR, Class DNM, 3.843%, 11/5/32(1)(2) $       695 $    434,951
Series 2019-BPR, Class ENM, 3.843%, 11/5/32(1)(2)   325      107,519
Series 2019-BPR, Class FNM, 3.843%, 11/5/32(1)(2)   485      107,365
BPR Trust, Series 2022-SSP, Class A, 8.332%, (1 mo. SOFR + 3.00%), 5/15/39(1)(3)         295      294,815
BX Commercial Mortgage Trust:      
Series 2019-XL, Class A, 6.367%, (1 mo. SOFR + 1.034%), 10/15/36(1)(3)         590      588,359
Series 2019-XL, Class B, 6.527%, (1 mo. SOFR + 1.194%), 10/15/36(1)(3)   280      278,850
Series 2021-VOLT, Class B, 6.397%, (1 mo. SOFR + 1.064%), 9/15/36(1)(3)   666      644,719
Series 2021-VOLT, Class C, 6.547%, (1 mo. SOFR + 1.214%), 9/15/36(1)(3)   204 196,259
Series 2021-VOLT, Class D, 7.097%, (1 mo. SOFR + 1.764%), 9/15/36(1)(3)   702 671,443
Security Principal
Amount
(000's omitted) 		Value
CSMC:      
Series 2021-4SZN, Class A, 9.30%, (1 mo. SOFR + 3.967%), 11/15/23(1)(3) $       105 $    101,845
Series 2021-BPNY, Class A, 9.162%, (1 mo. SOFR + 3.829%), 8/15/26(1)(3)   100       87,857
Series 2022-NWPT, Class A, 8.475%, (1 mo. SOFR + 3.143%), 9/9/24(1)(3)   290      293,082
Extended Stay America Trust:      
Series 2021-ESH, Class A, 6.527%, (1 mo. SOFR + 1.194%), 7/15/38(1)(3)         415      412,239
Series 2021-ESH, Class C, 7.147%, (1 mo. SOFR + 1.814%), 7/15/38(1)(3)   570      562,600
Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates:      
Series KG02, Class A2, 2.412%, 8/25/29       1,440    1,242,621
Series KG03, Class A2, 1.297%, 6/25/30(2)   305 238,479
Series KG08, Class A2, 4.134%, 5/25/33(2)   339 310,207
Series KSG1, Class A2, 1.503%, 9/25/30   278 219,197
Series KW06, Class A2, 3.80%, 6/25/28(2)   530 498,245
Series W5FX, Class AFX, 3.336%, 4/25/28(2)   192 176,641
Federal National Mortgage Association:      
Series 2017-M13, Class A2, 3.029%, 9/25/27(2)   512 472,237
Series 2018-M13, Class A2, 3.866%, 9/25/30(2)   1,317 1,216,815
Series 2019-M1, Class A2, 3.665%, 9/25/28(2)   400 374,053
Series 2019-M22, Class A2, 2.522%, 8/25/29   484 421,577
Series 2020-M1, Class A2, 2.444%, 10/25/29   963 828,021
Series 2020-M20, Class A2, 1.435%, 10/25/29   605 486,548
Series 2023-M1S, Class A2, 4.656%, 4/25/33(2)   848 802,012
Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust:      
Series 2019-01, Class M10, 8.679%, (30-day average SOFR + 3.364%), 10/25/49(1)(3)   456 445,441
Series 2020-01, Class M10, 9.179%, (30-day average SOFR + 3.864%), 3/25/50(1)(3)   524 512,301
Hawaii Hotel Trust, Series 2019-MAUI, Class A, 6.529%, (1 mo. SOFR + 1.197%), 5/15/38(1)(3)   989 982,362
JPMorgan Chase Commercial Mortgage Securities Trust:      
Series 2014-DSTY, Class B, 3.771%, 6/10/27(1)   300 43,942
Series 2014-DSTY, Class C, 3.931%, 6/10/27(1)(2)   100 6,804
Med Trust:      
Series 2021-MDLN, Class D, 7.447%, (1 mo. SOFR + 2.114%), 11/15/38(1)(3)   294 282,099
Series 2021-MDLN, Class E, 8.597%, (1 mo. SOFR + 3.264%), 11/15/38(1)(3)   219 208,717
Morgan Stanley Capital I Trust:      
Series 2019-BPR, Class A, 7.322%, (1 mo. SOFR + 1.992%), 5/15/36(1)(3)(5)   424 408,322
Series 2019-BPR, Class B, 8.022%, (1 mo. SOFR + 2.692%), 5/15/36(1)(3)(5)   187 178,838
Series 2019-BPR, Class C, 8.972%, (1 mo. SOFR + 3.642%), 5/15/36(1)(3)(5)   100 94,660
VMC Finance, LLC:      
Series 2021-HT1, Class A, 7.095%, (1 mo. SOFR + 1.764%), 1/18/37(1)(3)   389 380,939
 
3

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted) 		Value
VMC Finance, LLC: (continued)      
Series 2021-HT1, Class B, 9.945%, (1 mo. SOFR + 4.614%), 1/18/37(1)(3) $ 753 $    714,241
WFLD Mortgage Trust, Series 2014-MONT, Class C, 3.88%, 8/10/31(1)(2)         450     245,469
Total Commercial Mortgage-Backed Securities
(identified cost $19,002,262) 		    $ 16,572,691
    
Common Stocks — 57.7%
    
Security Shares Value
Aerospace & Defense — 0.5%  
HEICO Corp.      11,300 $  1,829,809
      $  1,829,809
Automobile Components — 0.3%  
Aptiv PLC(6)      12,900 $  1,271,811
      $  1,271,811
Beverages — 2.4%  
Coca-Cola Co. (The)      79,500 $  4,450,410
PepsiCo, Inc.      26,000   4,405,440
      $8,855,850
Biotechnology — 1.3%  
AbbVie, Inc.   32,600 $4,859,356
      $4,859,356
Broadline Retail — 2.5%  
Amazon.com, Inc.(6)   75,080 $9,544,170
      $9,544,170
Capital Markets — 3.5%  
Intercontinental Exchange, Inc.   34,800 $3,828,696
S&P Global, Inc.   9,600 3,507,936
Stifel Financial Corp.   36,600 2,248,704
Tradeweb Markets, Inc., Class A   44,703 3,585,181
      $13,170,517
Chemicals — 1.0%  
Linde PLC   9,600 $3,574,560
      $3,574,560
Commercial Services & Supplies — 0.6%  
Waste Management, Inc.   15,416 $2,350,015
      $2,350,015
Security Shares Value
Consumer Staples Distribution & Retail — 1.3%  
Walmart, Inc.      30,800 $  4,925,844
      $  4,925,844
Containers & Packaging — 0.6%  
AptarGroup, Inc.      17,387 $  2,174,070
      $  2,174,070
Electric Utilities — 0.6%  
NextEra Energy, Inc.      38,500 $  2,205,665
      $  2,205,665
Electrical Equipment — 0.9%  
AMETEK, Inc.   22,200 $3,280,272
      $3,280,272
Energy Equipment & Services — 1.2%  
Baker Hughes Co.   132,500 $4,679,900
      $4,679,900
Financial Services — 2.0%  
Shift4 Payments, Inc., Class A(6)   37,000 $2,048,690
Visa, Inc., Class A   24,500 5,635,245
      $7,683,935
Ground Transportation — 0.7%  
Union Pacific Corp.   13,600 $2,769,368
      $2,769,368
Health Care Equipment & Supplies — 1.6%  
Intuitive Surgical, Inc.(6)   9,900 $2,893,671
Stryker Corp.   11,800 3,224,586
      $6,118,257
Hotels, Restaurants & Leisure — 1.0%  
Domino's Pizza, Inc.   3,700 $1,401,523
Marriott International, Inc., Class A   12,500 2,457,000
      $3,858,523
Insurance — 1.9%  
Allstate Corp. (The)   28,400 $3,164,044
W.R. Berkley Corp.   60,400 3,834,796
      $6,998,840
Interactive Media & Services — 4.5%  
Alphabet, Inc., Class A(6)   38,800 $5,077,368
Alphabet, Inc., Class C(6)   88,900 11,721,465
      $16,798,833
 
4

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Shares Value
IT Services — 0.7%  
Gartner, Inc.(6)       7,500 $  2,577,075
      $  2,577,075
Life Sciences Tools & Services — 1.7%  
Danaher Corp.      13,000 $  3,225,300
Thermo Fisher Scientific, Inc.       6,418   3,248,599
      $  6,473,899
Machinery — 0.7%  
Parker-Hannifin Corp.       6,300 $  2,453,976
      $2,453,976
Media — 0.9%  
Comcast Corp., Class A   77,300 $3,427,482
      $3,427,482
Multi-Utilities — 0.5%  
Sempra   27,800 $1,891,234
      $1,891,234
Pharmaceuticals — 2.4%  
Bristol-Myers Squibb Co.   42,500 $2,466,700
Eli Lilly & Co.   12,200 6,552,986
      $9,019,686
Professional Services — 2.6%  
Automatic Data Processing, Inc.   16,600 $3,993,628
Booz Allen Hamilton Holding Corp.   21,900 2,393,013
TransUnion   49,500 3,553,605
      $9,940,246
Real Estate Management & Development — 0.9%  
FirstService Corp.   22,000 $3,201,880
      $3,201,880
Semiconductors & Semiconductor Equipment — 3.6%  
Analog Devices, Inc.   22,500 $3,939,525
Lam Research Corp.   4,500 2,820,465
NVIDIA Corp.   15,300 6,655,347
      $13,415,337
Software — 7.9%  
ANSYS, Inc.(6)   11,700 $3,481,335
Fair Isaac Corp.(6)   4,000 3,474,120
Fortinet, Inc.(6)   30,700 1,801,476
Microsoft Corp.   57,193 18,058,690
VMware, Inc., Class A(6)   17,900 2,979,992
      $29,795,613
Security Shares Value
Specialty Retail — 0.9%  
TJX Cos., Inc. (The)      36,200 $  3,217,456
      $  3,217,456
Technology Hardware, Storage & Peripherals — 4.6%  
Apple, Inc.     102,088 $ 17,478,486
      $ 17,478,486
Textiles, Apparel & Luxury Goods — 1.2%  
lululemon Athletica, Inc.(6)       5,800 $  2,236,538
NIKE, Inc., Class B      22,700   2,170,574
      $4,407,112
Wireless Telecommunication Services — 0.7%  
T-Mobile US, Inc.(6)   19,130 $2,679,157
      $2,679,157
Total Common Stocks
(identified cost $152,392,295) 		    $216,928,234
    
Corporate Bonds — 16.4%
    
Security Principal
Amount*
(000’s omitted) 		Value
Basic Materials — 0.3%  
Celanese U.S. Holdings, LLC:      
6.35%, 11/15/28         303 $    299,348
6.55%, 11/15/30   285      279,053
6.70%, 11/15/33   196      190,933
South32 Treasury, Ltd., 4.35%, 4/14/32(1)         306     258,348
      $  1,027,682
Communications — 0.6%  
AT&T, Inc.:      
3.55%, 9/15/55   454 $278,205
3.65%, 6/1/51   631 407,160
CCO Holdings, LLC/CCO Holdings Capital Corp., 5.00%, 2/1/28(1)   124 112,745
Charter Communications Operating, LLC/Charter Communications Operating Capital, 4.80%, 3/1/50   1,078 754,585
Nokia Oyj, 4.375%, 6/12/27   127 117,713
Rogers Communications, Inc., 4.55%, 3/15/52   544 397,222
SES Global Americas Holdings GP, 5.30%, 3/25/44(1)   185 124,754
SES S.A., 5.30%, 4/4/43(1)   109 73,501
Sprint, LLC, 7.125%, 6/15/24   141 141,980
      $2,407,865
Consumer, Cyclical — 1.1%  
American Airlines, Inc./AAdvantage Loyalty IP, Ltd., 5.50%, 4/20/26(1)   476 $465,967
Aptiv PLC/Aptiv Corp., 3.25%, 3/1/32   146 119,751
 
5

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount*
(000’s omitted) 		Value
Consumer, Cyclical (continued)  
Bath & Body Works, Inc.:      
6.875%, 11/1/35          39 $     34,875
7.60%, 7/15/37   165      145,000
Brunswick Corp., 5.10%, 4/1/52         133       91,719
Delta Air Lines, Inc./SkyMiles IP, Ltd.:      
4.50%, 10/20/25(1)         225      218,630
4.75%, 10/20/28(1)   460      437,328
Dick's Sporting Goods, Inc., 4.10%, 1/15/52         746      453,637
Ford Motor Co., 4.75%, 1/15/43   45 32,894
Ford Motor Credit Co., LLC, 7.35%, 11/4/27   356 363,891
General Motors Financial Co., Inc.:      
4.30%, 4/6/29   239 214,534
5.80%, 6/23/28   45 43,987
5.85%, 4/6/30(7)   693 664,248
Hyundai Capital America, 5.70%, 6/26/30(1)   100 96,269
Lithia Motors, Inc.:      
3.875%, 6/1/29(1)   373 314,775
4.375%, 1/15/31(1)(7)   60 49,698
Macy's Retail Holdings, LLC:      
4.30%, 2/15/43   30 16,794
5.875%, 4/1/29(1)(7)   66 57,852
WarnerMedia Holdings, Inc.:      
5.05%, 3/15/42   336 260,045
5.391%, 3/15/62   175 129,369
      $4,211,263
Consumer, Non-cyclical — 0.9%  
Ashtead Capital, Inc.:      
4.00%, 5/1/28(1)   200 $182,036
4.25%, 11/1/29(1)   384 340,311
Centene Corp.:      
2.50%, 3/1/31   214 164,649
3.375%, 2/15/30   199 166,206
4.25%, 12/15/27(7)   257 237,151
4.625%, 12/15/29   36 32,465
Coca-Cola Europacific Partners PLC, 1.50%, 1/15/27(1)   221 193,396
Coca-Cola Femsa SAB de CV, 1.85%, 9/1/32   255 189,915
Conservation Fund (The), 3.474%, 12/15/29   285 240,839
CVS Health Corp.:      
5.25%, 1/30/31   415 398,959
5.875%, 6/1/53   171 158,267
CVS Pass-Through Trust, 6.036%, 12/10/28   254 251,399
Doris Duke Charitable Foundation (The), 2.345%, 7/1/50   678 376,568
Ford Foundation (The), 2.415%, 6/1/50   435 253,762
Smithfield Foods, Inc.:      
2.625%, 9/13/31(1)   323 231,874
3.00%, 10/15/30(1)   77 58,921
5.20%, 4/1/29(1)   45 41,152
      $3,517,870
Security Principal
Amount*
(000’s omitted) 		Value
Energy — 0.2%  
Enviva Partners, L.P./Enviva Partners Finance Corp., 6.50%, 1/15/26(1)          76 $     62,059
TerraForm Power Operating, LLC:      
4.75%, 1/15/30(1)         369      315,737
5.00%, 1/31/28(1)   460     417,986
      $    795,782
Financial — 9.4%  
ABN AMRO Bank NV, 6.339% to 9/18/26, 9/18/27(1)(8)         300 $    299,378
Affiliated Managers Group, Inc., 3.30%, 6/15/30         225      187,145
AIB Group PLC, 6.608% to 9/13/28, 9/13/29(1)(8)   225 224,211
Alliant Holdings Intermediate, LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(1)   60 55,863
Ally Financial, Inc.:      
6.992% to 6/13/28, 6/13/29(8)   42 41,124
8.00%, 11/1/31(7)   475 479,987
American Assets Trust, L.P., 3.375%, 2/1/31   84 62,989
American National Group, LLC, 6.144%, 6/13/32(1)   70 63,411
Ameriprise Financial, Inc., 5.15%, 5/15/33   307 290,315
Andrew W. Mellon Foundation (The), 0.947%, 8/1/27   335 287,151
ASR Nederland N.V., 7.00% to 9/7/33, 12/7/43(8)(9) EUR 100 108,860
Australia & New Zealand Banking Group, Ltd., 2.95% to 7/22/25, 7/22/30(1)(8)   458 425,388
Aviation Capital Group, LLC:      
6.25%, 4/15/28(1)   336 328,891
6.375%, 7/15/30(1)   395 382,846
Banco Santander S.A.:      
5.294%, 8/18/27   600 580,453
6.921%, 8/8/33   600 574,120
Bank of America Corp.:      
1.734% to 7/22/26, 7/22/27(8)   603 534,516
1.898% to 7/23/30, 7/23/31(8)   227 172,582
1.922% to 10/24/30, 10/24/31(8)   288 217,388
2.087% to 6/14/28, 6/14/29(8)   379 317,410
2.299% to 7/21/31, 7/21/32(8)   379 287,364
2.456% to 10/22/24, 10/22/25(8)   475 456,321
2.551% to 2/4/27, 2/4/28(8)   522 465,681
3.846% to 3/8/32, 3/8/37(8)   622 506,377
4.571% to 4/27/32, 4/27/33(8)   271 240,737
5.819% to 9/15/28, 9/15/29(8)   357 352,767
5.872% to 9/15/33, 9/15/34(8)   678 660,171
6.204% to 11/10/27, 11/10/28(8)   110 110,538
Bank of Nova Scotia (The), 4.90% to 6/4/25(8)(10)   79 72,452
BBVA Bancomer S.A./Texas:      
1.875%, 9/18/25(1)   262 240,526
5.125% to 1/18/28, 1/18/33(1)(8)   500 430,905
BNP Paribas S.A.:      
7.75% to 8/16/29(1)(8)(10)   220 209,388
9.25% to 11/17/27(1)(7)(8)(10)   400 410,232
 
6

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount*
(000’s omitted) 		Value
Financial (continued)  
Boston Properties, L.P., 2.45%, 10/1/33(7)         311 $    212,544
BPCE S.A., 3.648% to 1/14/32, 1/14/37(1)(8)         261      201,107
Broadstone Net Lease, LLC, 2.60%, 9/15/31          24       16,831
CaixaBank S.A., 6.208% to 1/18/28, 1/18/29(1)(8)         685      670,667
Capital One Financial Corp.:      
3.273% to 3/1/29, 3/1/30(8)         256      214,294
4.20%, 10/29/25   190      181,214
CBRE Services, Inc., 5.95%, 8/15/34          80       75,553
Charles Schwab Corp. (The):      
5.875%, 8/24/26   53 52,846
6.136% to 8/24/33, 8/24/34(8)   315 306,591
CI Financial Corp.:      
3.20%, 12/17/30   477 362,175
4.10%, 6/15/51   455 263,765
Citigroup, Inc., 4.00% to 12/10/25(8)(10)   310 271,948
Corporate Office Properties, L.P., 2.90%, 12/1/33   426 299,252
Danske Bank A/S, 5.375%, 1/12/24(1)   200 199,216
Discover Bank, 5.974%, 8/9/28   270 247,310
EPR Properties:      
3.75%, 8/15/29   516 414,996
4.50%, 6/1/27   376 336,849
4.95%, 4/15/28   263 233,281
Extra Space Storage, L.P.:      
2.40%, 10/15/31   382 292,707
2.55%, 6/1/31   293 228,382
5.50%, 7/1/30   347 335,822
F&G Annuities & Life, Inc., 7.40%, 1/13/28(7)   924 923,128
Fifth Third Bancorp, 6.339% to 7/27/28, 7/27/29(8)   345 340,998
GA Global Funding Trust, 2.25%, 1/6/27(1)   677 593,765
Global Atlantic Fin Co., 3.125%, 6/15/31(1)   777 554,591
HAT Holdings I, LLC/HAT Holdings II, LLC:      
3.375%, 6/15/26(1)(7)   871 775,110
3.75%, 9/15/30(1)(7)   158 121,108
6.00%, 4/15/25(1)(7)   283 275,681
HSBC Holdings PLC:      
6.161% to 3/9/28, 3/9/29(8)   447 442,745
7.39% to 11/3/27, 11/3/28(8)   663 686,153
Intesa Sanpaolo SpA:      
7.00%, 11/21/25(1)   200 202,517
8.248% to 11/21/32, 11/21/33(1)(8)   488 492,242
Iron Mountain, Inc., 4.50%, 2/15/31(1)   297 244,609
Jefferies Financial Group, Inc., 5.875%, 7/21/28   496 485,703
JPMorgan Chase & Co.:      
1.47% to 9/22/26, 9/22/27(8)   618 541,620
2.545% to 11/8/31, 11/8/32(8)   144 111,497
4.005% to 4/23/28, 4/23/29(8)   318 293,230
KeyBank N.A., 5.85%, 11/15/27   500 475,790
KeyCorp, 4.789% to 6/1/32, 6/1/33(8)   250 208,536
KKR Group Finance Co. VII, LLC, 3.625%, 2/25/50(1)   301 191,909
Security Principal
Amount*
(000’s omitted) 		Value
Financial (continued)  
KKR Group Finance Co. X, LLC, 3.25%, 12/15/51(1)         109 $     63,935
Liberty Mutual Group, Inc., 4.125% to 9/15/26, 12/15/51(1)(8)         289      238,068
Macquarie Bank, Ltd., 6.798%, 1/18/33(1)         498      489,160
National Bank of Canada, 0.55% to 11/15/23, 11/15/24(8)         301      298,778
Newmark Group, Inc., 6.125%, 11/15/23         134      133,880
OneMain Finance Corp.:      
3.50%, 1/15/27         594      509,209
7.125%, 3/15/26(7)   58       56,863
PennyMac Financial Services, Inc., 4.25%, 2/15/29(1)(7)   53 42,931
PNC Financial Services Group, Inc. (The), Series W, 6.25% to 3/15/30(8)(10)   149 128,097
Radian Group, Inc., 4.875%, 3/15/27   393 367,628
Rocket Mortgage, LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/1/31(1)   557 444,868
SITE Centers Corp., 3.625%, 2/1/25   259 246,697
Societe Generale S.A.:      
6.221% to 6/15/32, 6/15/33(1)(8)   255 231,245
9.375% to 11/22/27(1)(8)(10)   207 203,350
Standard Chartered PLC, 1.822% to 11/23/24, 11/23/25(1)(8)   236 223,088
Stifel Financial Corp., 4.00%, 5/15/30   266 225,066
Sun Communities Operating, L.P.:      
2.70%, 7/15/31   102 78,603
4.20%, 4/15/32   300 256,178
Swedbank AB:      
5.337%, 9/20/27(1)   203 196,885
6.136%, 9/12/26(1)   437 435,459
Synchrony Bank, 5.40%, 8/22/25   362 349,042
Synchrony Financial, 4.50%, 7/23/25   450 428,648
Synovus Bank/Columbus, GA:      
4.00% to 10/29/25, 10/29/30(8)   250 201,966
5.625%, 2/15/28   744 674,577
Synovus Financial Corp., 5.90% to 2/7/24, 2/7/29(8)   35 32,579
Texas Capital Bancshares, Inc., 4.00% to 5/6/26, 5/6/31(8)   240 199,312
Toronto-Dominion Bank (The), 8.125% to 10/31/27, 10/31/82(8)   887 884,653
Truist Financial Corp.:      
5.10% to 3/1/30(8)(10)   409 351,724
5.867% to 6/8/33, 6/8/34(8)   985 927,799
6.047% to 6/8/26, 6/8/27(8)   445 440,314
U.S. Bancorp:      
5.775% to 6/12/28, 6/12/29(8)   878 855,115
5.836% to 6/10/33, 6/12/34(8)   450 424,767
UBS Group AG:      
2.095% to 2/11/31, 2/11/32(1)(8)   359 265,827
4.375% to 2/10/31(1)(8)(10)   219 157,444
UniCredit SpA:      
2.569% to 9/22/25, 9/22/26(1)(8)   430 394,112
5.459% to 6/30/30, 6/30/35(1)(8)   200 167,799
5.861% to 6/19/27, 6/19/32(1)(8)   200 182,137
 
7

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount*
(000’s omitted) 		Value
Financial (continued)  
Westpac Banking Corp., 3.02% to 11/18/31, 11/18/36(8)         223 $    165,219
      $ 35,428,791
Government - Multinational — 1.7%  
Asian Development Bank, 3.125%, 9/26/28         540 $    501,797
European Bank for Reconstruction & Development, 1.50%, 2/13/25         475      450,574
European Investment Bank:      
1.625%, 5/13/31         925      747,768
2.375%, 5/24/27   1,026      945,188
2.875%, 6/13/25(1)   1,892 1,819,835
Inter-American Development Bank, 0.875%, 4/3/25   377 352,790
International Bank for Reconstruction & Development, 3.125%, 11/20/25   1,200 1,151,763
International Finance Corp., 5.435%, (SOFR + 0.09%), 4/3/24(3)   246 246,061
      $6,215,776
Government - Regional — 0.2%  
Kommuninvest I Sverige AB, 0.375%, 6/19/24(1)   720 $693,168
      $693,168
Industrial — 0.2%  
Berry Global, Inc., 5.50%, 4/15/28(1)   188 $181,734
Cemex SAB de CV, 9.125% to 3/14/28(1)(8)(10)   225 234,507
Jabil, Inc., 3.00%, 1/15/31   157 127,342
Penske Truck Leasing Co., L.P./PTL Finance Corp., 6.20%, 6/15/30(1)   310 305,746
      $849,329
Other Revenue — 0.2%  
BlueHub Loan Fund, Inc., 3.099%, 1/1/30   675 $542,210
      $542,210
Technology — 1.0%  
Concentrix Corp.:      
6.60%, 8/2/28   913 $881,581
6.65%, 8/2/26   385 382,824
6.85%, 8/2/33   98 90,612
Foundry JV Holdco, LLC, 5.875%, 1/25/34(1)   464 443,741
Intel Corp., 5.70%, 2/10/53   466 437,328
Kyndryl Holdings, Inc.:      
2.70%, 10/15/28(7)   550 452,488
3.15%, 10/15/31(7)   236 178,926
Marvell Technology, Inc., 5.75%, 2/15/29   160 158,599
Micron Technology, Inc., 2.703%, 4/15/32   86 65,717
Security Principal
Amount*
(000’s omitted) 		Value
Technology (continued)  
Seagate HDD Cayman:      
5.75%, 12/1/34         180 $    152,214
9.625%, 12/1/32(1)   333     358,897
      $  3,602,927
Utilities — 0.6%  
AES Corp. (The), 2.45%, 1/15/31         342 $    263,309
Avangrid, Inc., 3.15%, 12/1/24         141      135,998
Clearway Energy Operating, LLC, 3.75%, 1/15/32(1)         176      137,017
Enel Finance International N.V., 1.375%, 7/12/26(1)   567 501,011
MidAmerican Energy Co.:      
3.15%, 4/15/50   215 136,559
4.25%, 7/15/49   300 234,920
5.35%, 1/15/34   253 249,806
NextEra Energy Capital Holdings, Inc., 1.90%, 6/15/28   214 181,240
NextEra Energy Operating Partners, L.P., 4.25%, 9/15/24(1)   34 32,678
Niagara Mohawk Power Corp., 1.96%, 6/27/30(1)   233 181,761
Pattern Energy Operations, L.P./Pattern Energy Operations, Inc., 4.50%, 8/15/28(1)   343 298,280
      $2,352,579
Total Corporate Bonds
(identified cost $68,691,924) 		    $61,645,242
    
Preferred Stocks — 0.2%
    
Security Shares Value
Real Estate Management & Development — 0.1%  
Brookfield Property Partners, L.P.:      
Series A, 5.75%      13,079 $    166,626
Series A2, 6.375%   12,000     162,000
      $    328,626
Wireless Telecommunication Services — 0.1%  
United States Cellular Corp.:      
5.50%      21,450 $    353,067
6.25%   2,200      39,930
      $392,997
Total Preferred Stocks
(identified cost $1,236,268) 		    $721,623
    
 
8

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Senior Floating-Rate Loans(11) — 0.1%
    
Borrower/Description Principal
Amount
(000's omitted) 		Value
Diversified Telecommunication Services — 0.1%  
CenturyLink, Inc., Term Loan, 7.681%, (SOFR + 2.25%), 3/15/27 $       315 $    224,887
Total Senior Floating-Rate Loans
(identified cost $312,951) 		    $    224,887
    
Sovereign Government Bonds — 0.4%
    
Security Principal
Amount
(000’s omitted) 		Value
Kreditanstalt fuer Wiederaufbau:      
0.75%, 9/30/30 $       235 $    180,372
1.00%, 10/1/26   1,526   1,363,629
Total Sovereign Government Bonds
(identified cost $1,746,544) 		    $  1,544,001
    
Taxable Municipal Obligations — 1.2%
    
Security Principal
Amount
(000's omitted) 		Value
General Obligations — 0.4%  
Los Angeles Unified School District, CA, 5.75%, 7/1/34(12) $       450 $    454,266
Massachusetts, Green Bonds, 3.277%, 6/1/46         435      322,052
New York City, NY, 5.206%, 10/1/31(12)         470      462,104
San Francisco City and County, CA, (Social Bonds - Affordable Housing, 2016), 3.921%, 6/15/39         285     233,224
      $  1,471,646
Special Tax Revenue — 0.6%  
California Health Facilities Financing Authority, (No Place Like Home Program):      
Social Bonds, 2.361%, 6/1/26 $       405 $    376,079
Social Bonds, 2.484%, 6/1/27   290 264,555
Social Bonds, 2.534%, 6/1/28   360 321,887
Social Bonds, 2.584%, 6/1/29   200 174,842
Social Bonds, 2.984%, 6/1/33   220 179,857
Connecticut, Special Tax Revenue, 5.459%, 11/1/30(12)   300 298,674
New York City Transitional Finance Authority, NY, Future Tax Secured Revenue Bonds, 5.767%, 8/1/36(12)   545 549,000
      $2,164,894
Water and Sewer — 0.2%  
District of Columbia Water & Sewer Authority, Green Bonds, 4.814%, 10/1/2114 $ 130 $111,107
Security Principal
Amount
(000's omitted) 		Value
Water and Sewer (continued)  
Narragansett Bay Commission, RI, Wastewater System Revenue:      
Green Bonds, 2.094%, 9/1/30 $       170 $    138,613
Green Bonds, 2.184%, 9/1/31   140      111,432
Green Bonds, 2.264%, 9/1/32   125       97,295
Green Bonds, 2.344%, 9/1/33   135      102,981
San Diego County Water Authority, CA:      
Green Bonds, 1.531%, 5/1/30         145      116,320
Green Bonds, 1.701%, 5/1/31   130      101,913
Green Bonds, 1.951%, 5/1/34   75 54,683
      $834,344
Total Taxable Municipal Obligations
(identified cost $5,239,644) 		    $4,470,884
    
U.S. Government Agencies and Instrumentalities — 0.3%
    
Security Principal
Amount
(000's omitted) 		Value
U.S. Department of Housing and Urban Development:      
2.668%, 8/1/24 $       240 $    234,542
2.738%, 8/1/25         240      228,180
3.435%, 8/1/34         220      190,241
3.485%, 8/1/35         125      105,271
3.585%, 8/1/37         225      186,520
U.S. International Development Finance Corp., 3.52%, 9/20/32         284     262,141
Total U.S. Government Agencies and Instrumentalities
(identified cost $1,380,221) 		    $  1,206,895
    
U.S. Government Agency Mortgage-Backed Securities — 7.5%
    
Security Principal
Amount
(000's omitted) 		Value
Federal Home Loan Mortgage Corp.:      
3.50%, 3/1/48 $        84 $     73,335
6.50%, 8/1/53   1,034    1,041,391
6.00%, 6/1/53   75       73,919
Federal National Mortgage Association:      
2.00%, 4/1/51         206      159,889
2.68%, 7/1/26   336      314,625
3.00%, 11/1/49   248      207,313
4.00%, with various maturities to 2048   512      464,165
4.00%, 30-Year, TBA(13)   11,068 9,860,892
4.50%, 30-Year, TBA(13)   4,077 3,745,264
5.00%, 30-Year, TBA(13)   7,122 6,722,783
5.50%, 7/1/53   997 964,738
5.50%, 30-Year, TBA(13)   3,296 3,186,822
7.00%, 6/1/53   100 103,659
 
9

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Security Principal
Amount
(000's omitted) 		Value
Government National Mortgage Association II:      
2.50%, with various maturities to 2051 $       729 $    587,567
6.00%, with various maturities to 2053   377      375,010
6.50%, 6/20/53   329     333,791
Total U.S. Government Agency Mortgage-Backed Securities
(identified cost $29,163,367) 		  $ 28,215,163
    
U.S. Treasury Obligations — 7.4%
    
Security Principal
Amount
(000's omitted) 		Value
U.S. Treasury Bond:      
1.375%, 8/15/50 $       497 $    242,676
1.875%, 2/15/41   481      310,489
1.875%, 2/15/51   186      104,294
1.875%, 11/15/51   368      205,232
2.00%, 11/15/41   795      516,206
2.00%, 8/15/51   338      195,116
2.25%, 2/15/52   523      321,124
2.375%, 2/15/42   4,994    3,453,566
2.875%, 5/15/43   2,332 1,728,549
2.875%, 5/15/52   275 195,046
3.00%, 5/15/47   38 27,891
3.00%, 8/15/52   127 92,576
3.625%, 2/15/53   292 241,562
3.625%, 5/15/53   43 35,613
3.875%, 2/15/43   530 461,348
3.875%, 5/15/43   43 37,390
4.00%, 11/15/42   50 44,387
4.00%, 11/15/52   317 281,040
5.375%, 2/15/31   26 27,289
6.25%, 5/15/30   13 14,185
U.S. Treasury Note:      
0.25%, 3/15/24   1,022 998,708
0.25%, 6/15/24   287 276,707
0.375%, 4/15/24   345 335,750
0.75%, 11/15/24   105 99,750
0.875%, 11/15/30   54 42,023
1.00%, 7/31/28   58 48,935
1.125%, 1/15/25   301 285,409
1.25%, 12/31/26   1,384 1,239,977
1.25%, 3/31/28   581 501,544
1.25%, 4/30/28   1,022 880,038
1.25%, 6/30/28   303 259,515
1.50%, 1/31/27   152 136,883
1.875%, 2/28/27   3,887 3,538,020
1.875%, 2/15/32   260 211,240
2.125%, 3/31/24   420 413,136
2.50%, 5/31/24   280 274,595
Security Principal
Amount
(000's omitted) 		Value
U.S. Treasury Note: (continued)      
2.625%, 4/15/25 $ 310 $    298,193
2.875%, 4/30/29   4,465    4,078,324
3.00%, 6/30/24   280      274,913
3.125%, 8/31/27   1,146    1,081,761
3.125%, 8/31/29   441      406,478
3.375%, 5/15/33   308      279,366
3.50%, 1/31/28   631      602,285
3.50%, 4/30/30   90       84,245
3.625%, 5/15/26   23 22,296
3.625%, 5/31/28   97 92,980
3.875%, 9/30/29   465 446,127
4.125%, 7/31/28   60 58,711
4.125%, 11/15/32   43 41,478
4.375%, 8/15/26   300 296,297
4.50%, 11/15/25   880 870,822
4.625%, 6/30/25   900 892,371
4.625%, 9/15/26   42 41,797
Total U.S. Treasury Obligations
(identified cost $31,126,936) 		    $27,946,253
    
Short-Term Investments — 3.0%      
Affiliated Fund — 2.6%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.27%(14)   9,645,777 $  9,645,777
Total Affiliated Fund
(identified cost $9,645,777) 		    $  9,645,777
Securities Lending Collateral — 0.4%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 5.36%(15)   1,741,035 $  1,741,035
Total Securities Lending Collateral
(identified cost $1,741,035) 		    $  1,741,035
Total Short-Term Investments
(identified cost $11,386,812) 		    $ 11,386,812
Total Purchased Call Options — 0.0%(16)
(identified cost $16,059) 		    $     16,500
Total Investments — 106.3%
(identified cost $352,540,952) 		    $399,617,095
Other Assets, Less Liabilities — (6.3)%     $(23,643,657)
Net Assets — 100.0%     $375,973,438
    
 
10

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
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 September 30, 2023, the aggregate value of these securities is $57,419,758 or 15.3% of the Fund's net assets.
(2) Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at September 30, 2023.
(3) Variable rate security. The stated interest rate represents the rate in effect at September 30, 2023.
(4) Step coupon security. Interest rate represents the rate in effect at
September 30, 2023.
(5) Represents an investment in an issuer that may be deemed to be an affiliate.
(6) Non-income producing security.
(7) All or a portion of this security was on loan at September 30, 2023. The aggregate market value of securities on loan at September 30, 2023 was $2,455,126 and the total market value of the collateral received by the Fund was $2,554,856, comprised of cash of $1,741,035 and U.S. government and/or agencies securities of $813,821.
(8) Security converts to variable rate after the indicated fixed-rate coupon period.
(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 September 30, 2023, the aggregate value of these securities is $108,860 or less than 0.05% of the Fund's net assets.
(10) Perpetual security with no stated maturity date but may be subject to calls by the issuer.
(11) 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 Secured Overnight Financing Rate (“SOFR”) (or the London Interbank Offered Rate (“LIBOR”) for those loans whose rates reset prior to the discontinuance of LIBOR on June 30, 2023) 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. Rates for SOFR are generally 1 or 3-month tenors and may also be subject to a credit spread adjustment. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold.
(12) 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.
(13) 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.
(14) May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of September 30, 2023.
(15) Represents investment of cash collateral received in connection with securities lending.
(16) Amount is less than 0.05%.
 
11

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Purchased Call Options (Exchange-Traded) — 0.0%(1)
Description Number of
Contracts 		Notional
Amount 		Exercise
Price 		Expiration
Date 		Value
U.S. 10-Year Treasury Note Futures 12/2023 32 $3,458,000 $110.00 11/24/23 $16,500
Total         $16,500
    
(1) Amount is less than 0.05%.
Forward Foreign Currency Exchange Contracts (OTC)
Currency Purchased Currency Sold Counterparty Settlement
Date 		Unrealized
Appreciation 		Unrealized
(Depreciation)
USD 98,789 CAD 133,500 State Street Bank and Trust Company 11/10/23 $449 $ —
USD 116,992 EUR 105,556 JPMorgan Chase Bank, N.A. 11/10/23 5,217  —
            $5,666 $ —
Futures Contracts
Description Number of
Contracts 		Position Expiration
Date 		Notional
Amount 		Value/
Unrealized
Appreciation
(Depreciation)
Interest Rate Futures          
U.S. 2-Year Treasury Note 74 Long 12/29/23 $15,000,609 $(66,556)
U.S. 5-Year Treasury Note 16 Long 12/29/23 1,685,750 (2,080)
U.S. 10-Year Treasury Note 18 Long 12/19/23 1,945,125 (19,446)
U.S. Long Treasury Bond 63 Long 12/19/23 7,168,219 (304,312)
U.S. Ultra-Long Treasury Bond 18 Long 12/19/23 2,136,375 (118,746)
U.S. 5-Year Treasury Note (5) Short 12/29/23 (526,797) 5,733
U.S. 10-Year Treasury Note (1) Short 12/19/23 (108,063) 2,006
U.S. Ultra 10-Year Treasury Note (59) Short 12/19/23 (6,582,187) 208,759
U.S. Ultra-Long Treasury Bond (6) Short 12/19/23 (712,125) 38,942
          $(255,700)
    
Abbreviations: 
OTC – Over-the-counter
SOFR – Secured Overnight Financing Rate
TBA – To Be Announced
    
Currency Abbreviations: 
CAD – Canadian Dollar
EUR – Euro
USD – United States Dollar
At September 30, 2023, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
12

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
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: During the fiscal year to date ended September 30, 2023, the Fund entered into forward foreign currency exchange contracts to seek to hedge against the decline in the value of currencies in which its portfolio holdings are denominated against the U.S. dollar.
Interest Rate Risk: During the fiscal year to date ended September 30, 2023, the Fund entered into futures contracts and options on futures contracts to hedge interest rate risk and to manage duration.
Affiliated Investments
At September 30, 2023, the value of the Fund's investment in issuers and funds that may be deemed to be affiliated was $10,327,597, which represents 2.7% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended September 30, 2023 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/
Shares,
end of period
Commercial Mortgage-Backed Securities                
Morgan Stanley Capital I Trust:                
Series 2019-BPR, Class A, 7.322%, (1 mo. SOFR + 1.992%), 5/15/36 $  452,353 $ — $    (48,832) $ — $4,801 $   408,322 $ 22,555 $  423,756
Series 2019-BPR, Class B, 8.022%, (1 mo. SOFR + 2.692%), 5/15/36   175,544  —   —  — 3,232    178,838  10,526   187,000
Series 2019-BPR, Class C, 8.972%, (1 mo. SOFR + 3.642%), 5/15/36    92,695  —   —  — 1,965     94,660   6,317   100,000
Short-Term Investments            
Liquidity Fund, Institutional Class(1) 6,867,206 60,283,140 (57,504,569)  —  —  9,645,777 180,325 9,645,777
Total       $ — $9,998 $10,327,597 $219,723  
    
(1) Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio.
Fair Value Measurements
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 September 30, 2023, based on the inputs used to value them:
Asset Description  Level 1  Level 2  Level 3  Total 
Asset-Backed Securities $ — $23,545,284 $ — $23,545,284
Collateralized Mortgage Obligations  — 5,192,626  — 5,192,626
Commercial Mortgage-Backed Securities  — 16,572,691  — 16,572,691
Common Stocks 216,928,234(1)  —  — 216,928,234
Corporate Bonds  — 61,645,242  — 61,645,242
Preferred Stocks 721,623  —  — 721,623
Senior Floating-Rate Loans  — 224,887  — 224,887
Sovereign Government Bonds  — 1,544,001  — 1,544,001
Taxable Municipal Obligations  — 4,470,884  — 4,470,884
U.S. Government Agencies and Instrumentalities  — 1,206,895  — 1,206,895
U.S. Government Agency Mortgage-Backed Securities  — 28,215,163  — 28,215,163
U.S. Treasury Obligations  — 27,946,253  — 27,946,253
13

 

Calvert
VP SRI Balanced Portfolio 
September 30, 2023
Schedule of Investments (Unaudited) — continued
Asset Description (continued) Level 1  Level 2  Level 3  Total 
Short-Term Investments:        
Affiliated Fund $9,645,777 $ — $ — $9,645,777
Securities Lending Collateral 1,741,035  —  — 1,741,035
Purchased Call Options 16,500  —  — 16,500
Total Investments $229,053,169 $170,563,926 $ — $399,617,095
Forward Foreign Currency Exchange Contracts $ — $5,666 $ — $5,666
Futures Contracts 255,440  —  — 255,440
Total $229,308,609 $170,569,592 $ — $399,878,201
Liability Description         
Futures Contracts $(511,140) $ — $ — $(511,140)
Total $(511,140) $ — $ — $(511,140)
    
(1) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
Investment Valuation - Derivatives. U.S. exchange-traded options are valued at the mean between the bid and ask prices at valuation time as reported by the Options Price Reporting Authority and are categorized as Level 1 in the hierarchy.
Options Contracts— Upon the purchase of a call or put option, the premium paid by the Fund is included in the Statement of Assets and Liabilities as an investment. The amount of the investment is subsequently marked-to-market to reflect the current market value of the option purchased, in accordance with the Fund’s policies on investment valuations discussed above. Premiums paid for purchasing options that expire are treated as realized losses. Premiums paid for purchasing options that are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss. An option on a futures contract gives the holder the right to enter into a specified futures contract. As the purchaser of an index option, the Fund has the right to receive a cash payment equal to any depreciation in the value of the index below the exercise price of the option (in the case of a put) or equal to any appreciation in the value of the index over the exercise price of the option (in the case of a call) as of the valuation date of the option. The risk associated with purchasing options is limited to the premium originally paid. Purchased options traded over-the-counter involve risk that the issuer or counterparty will fail to perform its contractual obligations.
For additional 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.
14