NPORT-EX 2 NPORT_D894_7920357009.htm
Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited)
Common Stocks — 95.4%
    
Security Shares Value
Aerospace & Defense — 1.6%  
Boeing Co. (The)(1)        7,638 $  1,945,551
General Dynamics Corp.        3,209     582,626
Howmet Aerospace, Inc.(1)        5,401     173,534
Huntington Ingalls Industries, Inc.          647     133,185
L3Harris Technologies, Inc.        2,845     576,625
Lockheed Martin Corp.        3,411   1,260,365
Northrop Grumman Corp.        2,146     694,531
Raytheon Technologies Corp.       21,029   1,624,911
Teledyne Technologies, Inc.(1)   537 222,130
Textron, Inc.   3,141 176,147
TransDigm Group, Inc.(1)   773 454,462
      $7,844,067
Air Freight & Logistics — 0.6%  
C.H. Robinson Worldwide, Inc.   1,852 $176,736
Expeditors International of Washington, Inc.   2,344 252,425
FedEx Corp.   3,375 958,635
United Parcel Service, Inc., Class B   9,958 1,692,761
      $3,080,557
Airlines — 0.3%  
Alaska Air Group, Inc.(1)   1,813 $125,478
American Airlines Group, Inc.(1)   8,946 213,809
Delta Air Lines, Inc.(1)   8,832 426,409
Southwest Airlines Co.(1)   8,175 499,165
United Airlines Holdings, Inc.(1)   4,451 256,111
      $1,520,972
Auto Components — 0.1%  
Aptiv PLC(1)   3,737 $515,332
BorgWarner, Inc.   3,308 153,359
      $668,691
Automobiles — 1.8%  
Ford Motor Co.(1)   54,082 $662,505
General Motors Co.(1)   17,548 1,008,308
Tesla, Inc.(1)   10,697 7,144,847
      $8,815,660
Banks — 4.3%  
Bank of America Corp.   105,621 $4,086,477
Citigroup, Inc.   28,887 2,101,529
Citizens Financial Group, Inc.   6,148 271,434
Comerica, Inc.   2,132 152,950
Security Shares Value
Banks (continued)  
Fifth Third Bancorp       10,114 $    378,769
First Republic Bank        2,531     422,044
Huntington Bancshares, Inc.       14,078     221,306
JPMorgan Chase & Co.       42,431   6,459,271
KeyCorp       14,207     283,856
M&T Bank Corp.        1,842     279,266
People's United Financial, Inc.        6,514     116,601
PNC Financial Services Group, Inc. (The)        5,868   1,029,306
Regions Financial Corp.   13,831 285,748
SVB Financial Group(1)   754 372,220
Truist Financial Corp.   18,644 1,087,318
U.S. Bancorp   18,918 1,046,355
Wells Fargo & Co.   57,214 2,235,351
Zions Bancorp NA   2,515 138,224
      $20,968,025
Beverages — 1.4%  
Brown-Forman Corp., Class B   2,656 $183,184
Coca-Cola Co. (The)   54,060 2,849,503
Constellation Brands, Inc., Class A   2,353 536,484
Molson Coors Beverage Co., Class B(1)   2,907 148,693
Monster Beverage Corp.(1)   5,116 466,016
PepsiCo, Inc.   19,093 2,700,705
      $6,884,585
Biotechnology — 1.7%  
AbbVie, Inc.   24,439 $2,644,789
Alexion Pharmaceuticals, Inc.(1)   3,043 465,305
Amgen, Inc.   7,993 1,988,739
Biogen, Inc.(1)   2,108 589,713
Gilead Sciences, Inc.   17,391 1,123,980
Incyte Corp.(1)   2,708 220,079
Regeneron Pharmaceuticals, Inc.(1)   1,457 689,365
Vertex Pharmaceuticals, Inc.(1)   3,598 773,174
      $8,495,144
Building Products — 0.5%  
A.O. Smith Corp.   2,122 $143,468
Allegion PLC   1,256 157,779
Carrier Global Corp.   11,309 477,466
Fortune Brands Home & Security, Inc.   2,113 202,468
Johnson Controls International PLC   9,968 594,790
Masco Corp.   3,559 213,184
Trane Technologies PLC   3,300 546,348
      $2,335,503
 
1

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
Capital Markets — 2.7%  
Ameriprise Financial, Inc.        1,616 $    375,639
Bank of New York Mellon Corp. (The)       11,166     528,040
BlackRock, Inc.        1,965   1,481,531
Cboe Global Markets, Inc.        1,484     146,456
Charles Schwab Corp. (The)       20,711   1,349,943
CME Group, Inc.        4,968   1,014,615
Franklin Resources, Inc.        3,777     111,799
Goldman Sachs Group, Inc. (The)        4,762   1,557,174
Intercontinental Exchange, Inc.   7,774 868,200
Invesco, Ltd.   5,436 137,096
MarketAxess Holdings, Inc.   552 274,852
Moody's Corp.   2,227 665,005
Morgan Stanley(2)   20,768 1,612,843
MSCI, Inc.   1,143 479,237
Nasdaq, Inc.   1,596 235,346
Northern Trust Corp.   3,028 318,273
Raymond James Financial, Inc.   1,696 207,862
S&P Global, Inc.   3,331 1,175,410
State Street Corp.   4,869 409,045
T. Rowe Price Group, Inc.   3,155 541,398
      $13,489,764
Chemicals — 1.8%  
Air Products & Chemicals, Inc.   3,062 $861,463
Albemarle Corp.   1,691 247,072
Celanese Corp.   1,679 251,531
CF Industries Holdings, Inc.   2,962 134,416
Corteva, Inc.   10,297 480,046
Dow, Inc.   10,313 659,413
DuPont de Nemours, Inc.   7,451 575,813
Eastman Chemical Co.   1,880 207,026
Ecolab, Inc.   3,442 736,829
FMC Corp.   1,790 197,992
International Flavors & Fragrances, Inc.   3,442 480,538
Linde PLC   7,236 2,027,093
LyondellBasell Industries NV, Class A   3,561 370,522
Mosaic Co. (The)   5,276 166,774
PPG Industries, Inc.   3,279 492,702
Sherwin-Williams Co. (The)   1,116 823,619
      $8,712,849
Commercial Services & Supplies — 0.4%  
Cintas Corp.   1,221 $416,739
Copart, Inc.(1)   3,023 328,328
Republic Services, Inc.   3,025 300,534
Rollins, Inc.   3,334 114,756
Security Shares Value
Commercial Services & Supplies (continued)  
Waste Management, Inc.        5,388 $    695,160
      $  1,855,517
Communications Equipment — 0.8%  
Arista Networks, Inc.(1)          793 $    239,399
Cisco Systems, Inc.       58,837   3,042,461
F5 Networks, Inc.(1)          853     177,953
Juniper Networks, Inc.        4,542     115,049
Motorola Solutions, Inc.        2,339     439,849
      $4,014,711
Construction & Engineering — 0.0%(3)  
Quanta Services, Inc.   1,915 $168,482
      $168,482
Construction Materials — 0.1%  
Martin Marietta Materials, Inc.   906 $304,253
Vulcan Materials Co.   1,928 325,350
      $629,603
Consumer Finance — 0.6%  
American Express Co.   9,031 $1,277,345
Capital One Financial Corp.   6,356 808,674
Discover Financial Services   4,244 403,137
Synchrony Financial   7,804 317,311
      $2,806,467
Containers & Packaging — 0.3%  
Amcor PLC   22,821 $266,549
Avery Dennison Corp.   1,149 211,014
Ball Corp.   4,538 384,550
International Paper Co.   5,662 306,144
Packaging Corp. of America   1,312 176,438
Sealed Air Corp.   2,451 112,305
WestRock Co.   3,971 206,691
      $1,663,691
Distributors — 0.1%  
Genuine Parts Co.   1,998 $230,949
LKQ Corp.(1)   3,862 163,478
Pool Corp.   557 192,299
      $586,726
Diversified Financial Services — 1.4%  
Berkshire Hathaway, Inc., Class B(1)   26,518 $6,774,553
      $6,774,553
 
2

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
Diversified Telecommunication Services — 1.3%  
AT&T, Inc.       98,700 $  2,987,649
Lumen Technologies, Inc.       14,367     191,799
Verizon Communications, Inc.       57,680   3,354,092
      $  6,533,540
Electric Utilities — 1.6%  
Alliant Energy Corp.        3,804 $    206,025
American Electric Power Co., Inc.        6,873     582,143
Duke Energy Corp.       10,688   1,031,713
Edison International   5,507 322,710
Entergy Corp.   2,775 276,029
Evergy, Inc.   3,141 186,984
Eversource Energy   4,747 411,043
Exelon Corp.   13,512 591,015
FirstEnergy Corp.   7,518 260,799
NextEra Energy, Inc.   27,124 2,050,846
NRG Energy, Inc.   3,807 143,638
Pinnacle West Capital Corp.   1,764 143,501
PPL Corp.   11,186 322,604
Southern Co. (The)   14,623 908,966
Xcel Energy, Inc.   7,645 508,469
      $7,946,485
Electrical Equipment — 0.5%  
AMETEK, Inc.   3,191 $407,586
Eaton Corp. PLC   5,509 761,785
Emerson Electric Co.   8,304 749,187
Generac Holdings, Inc.(1)   870 284,881
Rockwell Automation, Inc.   1,608 426,828
      $2,630,267
Electronic Equipment, Instruments & Components — 0.7%  
Amphenol Corp., Class A   8,292 $547,023
CDW Corp.   2,030 336,473
Corning, Inc.   10,634 462,685
FLIR Systems, Inc.   1,816 102,550
IPG Photonics Corp.(1)   547 115,384
Keysight Technologies, Inc.(1)   2,696 386,606
TE Connectivity, Ltd.   4,579 591,195
Trimble, Inc.(1)   3,700 287,823
Zebra Technologies Corp., Class A(1)   776 376,500
      $3,206,239
Energy Equipment & Services — 0.2%  
Baker Hughes Co.   10,065 $217,505
Halliburton Co.   12,862 276,018
Security Shares Value
Energy Equipment & Services (continued)  
NOV, Inc.(1)        5,692 $     78,094
Schlumberger NV       19,351     526,154
      $  1,097,771
Entertainment — 2.0%  
Activision Blizzard, Inc.       10,722 $    997,146
Electronic Arts, Inc.        3,981     538,908
Live Nation Entertainment, Inc.(1)        2,180     184,537
Netflix, Inc.(1)        6,169   3,218,120
Take-Two Interactive Software, Inc.(1)   1,633 288,551
Walt Disney Co. (The)(1)   25,282 4,665,035
      $9,892,297
Equity Real Estate Investment Trusts (REITs) — 2.3%  
Alexandria Real Estate Equities, Inc.   1,794 $294,754
American Tower Corp.   6,150 1,470,219
AvalonBay Communities, Inc.   1,931 356,289
Boston Properties, Inc.   1,962 198,672
Crown Castle International Corp.   5,969 1,027,444
Digital Realty Trust, Inc.   3,977 560,121
Duke Realty Corp.   5,412 226,925
Equinix, Inc.   1,236 839,973
Equity Residential   4,862 348,265
Essex Property Trust, Inc.   899 244,384
Extra Space Storage, Inc.   1,880 249,194
Federal Realty Investment Trust   971 98,508
Healthpeak Properties, Inc.   7,455 236,622
Host Hotels & Resorts, Inc.(1)   10,149 171,011
Iron Mountain, Inc.   4,419 163,547
Kimco Realty Corp.   6,223 116,681
Mid-America Apartment Communities, Inc.   1,664 240,215
Prologis, Inc.   10,234 1,084,804
Public Storage   2,105 519,430
Realty Income Corp.   5,107 324,295
Regency Centers Corp.   2,413 136,841
SBA Communications Corp.   1,513 419,933
Simon Property Group, Inc.   4,546 517,198
UDR, Inc.   4,285 187,940
Ventas, Inc.   5,391 287,556
Vornado Realty Trust   2,404 109,118
Welltower, Inc.   5,776 413,735
Weyerhaeuser Co.   10,860 386,616
      $11,230,290
Food & Staples Retailing — 1.3%  
Costco Wholesale Corp.   6,126 $2,159,292
 
3

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
Food & Staples Retailing (continued)  
Kroger Co. (The)       10,537 $    379,227
Sysco Corp.        7,064     556,219
Walgreens Boots Alliance, Inc.        9,925     544,883
Walmart, Inc.       19,186   2,606,034
      $  6,245,655
Food Products — 0.9%  
Archer-Daniels-Midland Co.        7,728 $    440,496
Campbell Soup Co.        2,841     142,817
Conagra Brands, Inc.   6,762 254,251
General Mills, Inc.   8,462 518,890
Hershey Co. (The)   2,028 320,748
Hormel Foods Corp.(4)   4,045 193,270
JM Smucker Co. (The)   1,517 191,946
Kellogg Co.   3,660 231,678
Kraft Heinz Co. (The)   9,199 367,960
Lamb Weston Holdings, Inc.   2,129 164,955
McCormick & Co., Inc.   3,618 322,581
Mondelez International, Inc., Class A   19,543 1,143,852
Tyson Foods, Inc., Class A   4,175 310,203
      $4,603,647
Gas Utilities — 0.0%(3)  
Atmos Energy Corp.   1,947 $192,461
      $192,461
Health Care Equipment & Supplies — 3.5%  
Abbott Laboratories   24,667 $2,956,093
ABIOMED, Inc.(1)   657 209,406
Align Technology, Inc.(1)   997 539,905
Baxter International, Inc.   6,990 589,537
Becton, Dickinson and Co.   4,021 977,706
Boston Scientific Corp.(1)   19,613 758,043
Cooper Cos., Inc. (The)   706 271,168
Danaher Corp.   8,772 1,974,402
DENTSPLY SIRONA, Inc.   3,032 193,472
DexCom, Inc.(1)   1,331 478,348
Edwards Lifesciences Corp.(1)   8,643 722,901
Hologic, Inc.(1)   3,739 278,107
IDEXX Laboratories, Inc.(1)   1,182 578,364
Intuitive Surgical, Inc.(1)   1,629 1,203,733
Medtronic PLC   18,657 2,203,951
ResMed, Inc.   2,108 408,994
STERIS PLC   1,181 224,957
Stryker Corp.   4,530 1,103,417
Teleflex, Inc.   678 281,682
Security Shares Value
Health Care Equipment & Supplies (continued)  
Varian Medical Systems, Inc.(1)        1,271 $    224,370
West Pharmaceutical Services, Inc.        1,049     295,587
Zimmer Biomet Holdings, Inc.        2,877     460,550
      $ 16,934,693
Health Care Providers & Services — 2.6%  
AmerisourceBergen Corp., Class A        2,040 $    240,863
Anthem, Inc.        3,389   1,216,482
Cardinal Health, Inc.        4,269     259,342
Centene Corp.(1)   8,049 514,412
Cigna Corp.   4,869 1,177,032
CVS Health Corp.   18,148 1,365,274
DaVita, Inc.(1)   1,160 125,013
HCA Healthcare, Inc.   3,669 691,019
Henry Schein, Inc.(1)   2,184 151,220
Humana, Inc.   1,783 747,523
Laboratory Corp. of America Holdings(1)   1,417 361,377
McKesson Corp.   2,200 429,088
Quest Diagnostics, Inc.   1,847 237,044
UnitedHealth Group, Inc.   13,163 4,897,557
Universal Health Services, Inc., Class B   1,192 159,001
      $12,572,247
Health Care Technology — 0.1%  
Cerner Corp.   4,461 $320,657
      $320,657
Hotels, Restaurants & Leisure — 2.1%  
Booking Holdings, Inc.(1)   567 $1,321,019
Caesars Entertainment, Inc.(1)   2,882 252,031
Carnival Corp.(1)   10,821 287,189
Chipotle Mexican Grill, Inc.(1)   389 552,699
Darden Restaurants, Inc.   1,894 268,948
Domino's Pizza, Inc.   573 210,744
Expedia Group, Inc.(1)   1,930 332,192
Hilton Worldwide Holdings, Inc.(1)   3,842 464,575
Las Vegas Sands Corp.(1)   4,722 286,909
Marriott International, Inc., Class A(1)   3,682 545,341
McDonald's Corp.   10,318 2,312,676
MGM Resorts International   5,684 215,935
Norwegian Cruise Line Holdings, Ltd.(1)   5,240 144,572
Penn National Gaming, Inc.(1)   2,057 215,656
Royal Caribbean Cruises, Ltd.(1)   3,030 259,398
Starbucks Corp.   16,293 1,780,336
Wynn Resorts, Ltd.(1)   1,413 177,148
 
4

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
Hotels, Restaurants & Leisure (continued)  
Yum! Brands, Inc.        4,153 $    449,271
      $ 10,076,639
Household Durables — 0.4%  
D.R. Horton, Inc.        4,580 $    408,170
Garmin, Ltd.        2,068     272,666
Leggett & Platt, Inc.        2,147      98,010
Lennar Corp., Class A        3,799     384,573
Mohawk Industries, Inc.(1)          816     156,925
Newell Brands, Inc.   5,791 155,083
NVR, Inc.(1)   49 230,835
PulteGroup, Inc.   3,932 206,194
Whirlpool Corp.   869 191,484
      $2,103,940
Household Products — 1.4%  
Church & Dwight Co., Inc.   3,392 $296,291
Clorox Co. (The)   1,834 353,742
Colgate-Palmolive Co.   11,744 925,779
Kimberly-Clark Corp.   4,678 650,476
Procter & Gamble Co. (The)   34,079 4,615,319
      $6,841,607
Independent Power and Renewable Electricity Producers — 0.1%  
AES Corp. (The)   9,677 $259,440
      $259,440
Industrial Conglomerates — 1.2%  
3M Co.   8,014 $1,544,137
General Electric Co.   121,343 1,593,234
Honeywell International, Inc.   9,625 2,089,299
Roper Technologies, Inc.   1,452 585,650
      $5,812,320
Insurance — 1.8%  
Aflac, Inc.   8,863 $453,608
Allstate Corp. (The)   4,192 481,661
American International Group, Inc.   11,968 553,041
Aon PLC, Class A   3,127 719,554
Arthur J. Gallagher & Co.   2,798 349,106
Assurant, Inc.   863 122,348
Chubb, Ltd.   6,231 984,311
Cincinnati Financial Corp.   2,075 213,912
Everest Re Group, Ltd.   624 154,633
Globe Life, Inc.   1,401 135,379
Hartford Financial Services Group, Inc. (The)   4,948 330,477
Security Shares Value
Insurance (continued)  
Lincoln National Corp.        2,497 $    155,488
Loews Corp.        3,141     161,071
Marsh & McLennan Cos., Inc.        7,033     856,619
MetLife, Inc.       10,404     632,459
Principal Financial Group, Inc.        3,509     210,400
Progressive Corp. (The)        8,106     775,015
Prudential Financial, Inc.        5,494     500,503
Travelers Cos., Inc. (The)        3,491     525,046
Unum Group   3,122 86,885
Willis Towers Watson PLC   1,785 408,551
WR Berkley Corp.   2,151 162,078
      $8,972,145
Interactive Media & Services — 5.6%  
Alphabet, Inc., Class A(1)   4,192 $8,646,084
Alphabet, Inc., Class C(1)   4,019 8,313,824
Facebook, Inc., Class A(1)   33,525 9,874,118
Twitter, Inc.(1)   11,046 702,857
      $27,536,883
Internet & Direct Marketing Retail — 3.9%  
Amazon.com, Inc.(1)   5,964 $18,453,093
eBay, Inc.   8,946 547,853
Etsy, Inc.(1)   1,825 368,048
      $19,368,994
IT Services — 4.9%  
Accenture PLC, Class A   8,778 $2,424,923
Akamai Technologies, Inc.(1)   2,259 230,192
Automatic Data Processing, Inc.   5,922 1,116,119
Broadridge Financial Solutions, Inc.   1,682 257,514
Cognizant Technology Solutions Corp., Class A   7,343 573,635
DXC Technology Co.(1)   3,898 121,852
Fidelity National Information Services, Inc.   8,596 1,208,684
Fiserv, Inc.(1)   7,968 948,511
FleetCor Technologies, Inc.(1)   1,213 325,848
Gartner, Inc.(1)   1,228 224,171
Global Payments, Inc.   4,086 823,656
International Business Machines Corp.   12,367 1,648,026
Jack Henry & Associates, Inc.   1,053 159,761
MasterCard, Inc., Class A   12,199 4,343,454
Paychex, Inc.   4,442 435,405
PayPal Holdings, Inc.(1)   16,308 3,960,235
VeriSign, Inc.(1)   1,461 290,388
Visa, Inc., Class A   23,583 4,993,229
 
5

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
IT Services (continued)  
Western Union Co. (The)        5,687 $    140,241
      $ 24,225,844
Leisure Products — 0.0%(3)  
Hasbro, Inc.        1,949 $    187,338
      $    187,338
Life Sciences Tools & Services — 1.1%  
Agilent Technologies, Inc.        4,217 $    536,149
Bio-Rad Laboratories, Inc., Class A(1)          313     178,776
Illumina, Inc.(1)   2,019 775,417
IQVIA Holdings, Inc.(1)   2,647 511,242
Mettler-Toledo International, Inc.(1)   324 374,444
PerkinElmer, Inc.   1,629 208,984
Thermo Fisher Scientific, Inc.   5,450 2,487,271
Waters Corp.(1)   881 250,354
      $5,322,637
Machinery — 1.7%  
Caterpillar, Inc.   7,547 $1,749,923
Cummins, Inc.   2,048 530,657
Deere & Co.   4,338 1,623,019
Dover Corp.   1,988 272,615
Fortive Corp.   4,906 346,560
IDEX Corp.   1,050 219,786
Illinois Tool Works, Inc.   3,988 883,422
Ingersoll Rand, Inc.(1)   5,449 268,145
Otis Worldwide Corp.   5,642 386,195
PACCAR, Inc.   4,801 446,109
Parker-Hannifin Corp.   1,786 563,358
Pentair PLC   2,420 150,815
Snap-on, Inc.   750 173,055
Stanley Black & Decker, Inc.   2,275 454,249
Westinghouse Air Brake Technologies Corp.   2,457 194,496
Xylem, Inc.   2,496 262,529
      $8,524,933
Media — 1.3%  
Charter Communications, Inc., Class A(1)   1,957 $1,207,508
Comcast Corp., Class A   63,668 3,445,075
Discovery, Inc., Class A(1)   2,457 106,781
Discovery, Inc., Class C(1)   4,009 147,892
DISH Network Corp., Class A(1)   3,783 136,945
Fox Corp., Class A   4,627 167,081
Fox Corp., Class B   2,402 83,902
Interpublic Group of Cos., Inc. (The)   5,980 174,616
Security Shares Value
Media (continued)  
News Corp., Class A        5,965 $    151,690
News Corp., Class B        2,023      47,460
Omnicom Group, Inc.        3,092     229,272
ViacomCBS, Inc., Class B        8,174     368,647
      $  6,266,869
Metals & Mining — 0.3%  
Freeport-McMoRan, Inc.(1)       20,185 $    664,692
Newmont Corp.       11,076     667,550
Nucor Corp.   4,125 331,114
      $1,663,356
Multiline Retail — 0.5%  
Dollar General Corp.   3,391 $687,085
Dollar Tree, Inc.(1)   3,422 391,682
Target Corp.   6,932 1,373,021
      $2,451,788
Multi-Utilities — 0.8%  
Ameren Corp.   3,597 $292,652
CenterPoint Energy, Inc.   7,634 172,910
CMS Energy Corp.   4,166 255,043
Consolidated Edison, Inc.   4,978 372,354
Dominion Energy, Inc.   11,150 846,954
DTE Energy Co.   2,816 374,922
NiSource, Inc.   6,095 146,951
Public Service Enterprise Group, Inc.   6,990 420,868
Sempra Energy   4,197 556,438
WEC Energy Group, Inc.   4,365 408,520
      $3,847,612
Oil, Gas & Consumable Fuels — 2.5%  
APA Corp.   6,135 $109,816
Cabot Oil & Gas Corp.   6,455 121,225
Chevron Corp.   26,835 2,812,040
ConocoPhillips   18,749 993,135
Devon Energy Corp.   8,657 189,155
Diamondback Energy, Inc.   2,420 177,846
EOG Resources, Inc.   8,076 585,752
Exxon Mobil Corp.   58,929 3,290,006
Hess Corp.   3,781 267,544
HollyFrontier Corp.   2,183 78,108
Kinder Morgan, Inc.   26,943 448,601
Marathon Oil Corp.   12,106 129,292
Marathon Petroleum Corp.   9,013 482,105
Occidental Petroleum Corp.   11,898 316,725
 
6

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
Oil, Gas & Consumable Fuels (continued)  
ONEOK, Inc.        6,158 $    311,964
Phillips 66        6,045     492,909
Pioneer Natural Resources Co.        2,847     452,161
Valero Energy Corp.        5,654     404,826
Williams Cos., Inc. (The)       16,798     397,945
      $ 12,061,155
Personal Products — 0.2%  
Estee Lauder Cos., Inc. (The), Class A        3,216 $    935,374
      $935,374
Pharmaceuticals — 3.5%  
Bristol-Myers Squibb Co.   31,007 $1,957,472
Catalent, Inc.(1)   2,511 264,434
Eli Lilly & Co.   11,009 2,056,701
Johnson & Johnson   36,549 6,006,828
Merck & Co., Inc.   35,268 2,718,810
Perrigo Co. PLC   2,125 85,999
Pfizer, Inc.   77,191 2,796,630
Viatris, Inc.(1)   17,553 245,215
Zoetis, Inc.   6,576 1,035,589
      $17,167,678
Professional Services — 0.4%  
Equifax, Inc.   1,770 $320,600
IHS Markit, Ltd.   5,159 499,288
Jacobs Engineering Group, Inc.   1,800 232,686
Leidos Holdings, Inc.   1,946 187,361
Nielsen Holdings PLC   5,471 137,596
Robert Half International, Inc.   1,669 130,299
Verisk Analytics, Inc.   2,253 398,082
      $1,905,912
Real Estate Management & Development — 0.1%  
CBRE Group, Inc., Class A(1)   4,644 $367,387
      $367,387
Road & Rail — 1.0%  
CSX Corp.   10,553 $1,017,520
J.B. Hunt Transport Services, Inc.   1,201 201,852
Kansas City Southern   1,329 350,749
Norfolk Southern Corp.   3,486 936,061
Old Dominion Freight Line, Inc.   1,400 336,574
Union Pacific Corp.   9,270 2,043,201
      $4,885,957
Security Shares Value
Semiconductors & Semiconductor Equipment — 5.3%  
Advanced Micro Devices, Inc.(1)       16,771 $  1,316,523
Analog Devices, Inc.        5,105     791,683
Applied Materials, Inc.       12,700   1,696,720
Broadcom, Inc.        5,690   2,638,225
Enphase Energy, Inc.(1)        1,860     301,618
Intel Corp.       56,555   3,619,520
KLA Corp.        2,132     704,413
Lam Research Corp.        1,978   1,177,385
Maxim Integrated Products, Inc.   3,889 355,338
Microchip Technology, Inc.   3,696 573,693
Micron Technology, Inc.(1)   15,482 1,365,667
Monolithic Power Systems, Inc.   620 218,990
NVIDIA Corp.   8,635 4,610,486
NXP Semiconductors NV   3,834 771,938
Qorvo, Inc.(1)   1,619 295,791
QUALCOMM, Inc.   15,722 2,084,580
Skyworks Solutions, Inc.   2,282 418,701
Teradyne, Inc.   2,357 286,800
Texas Instruments, Inc.   12,736 2,406,977
Xilinx, Inc.   3,401 421,384
      $26,056,432
Software — 7.9%  
Adobe, Inc.(1)   6,674 $3,172,619
ANSYS, Inc.(1)   1,250 424,450
Autodesk, Inc.(1)   3,043 843,367
Cadence Design Systems, Inc.(1)   3,861 528,918
Citrix Systems, Inc.   1,702 238,893
Fortinet, Inc.(1)   1,913 352,796
Intuit, Inc.   3,790 1,451,797
Microsoft Corp.   105,105 24,780,606
NortonLifeLock, Inc.   8,727 185,536
Oracle Corp.   25,669 1,801,194
Paycom Software, Inc.(1)   713 263,853
salesforce.com, inc.(1)   12,801 2,712,148
ServiceNow, Inc.(1)   2,714 1,357,299
Synopsys, Inc.(1)   2,109 522,568
Tyler Technologies, Inc.(1)   587 249,199
      $38,885,243
Specialty Retail — 2.2%  
Advance Auto Parts, Inc.   987 $181,105
AutoZone, Inc.(1)   307 431,120
Best Buy Co., Inc.   3,189 366,129
CarMax, Inc.(1)   2,249 298,352
Gap, Inc. (The)(1)   3,143 93,599
 
7

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
Security Shares Value
Specialty Retail (continued)  
Home Depot, Inc. (The)       14,975 $  4,571,119
L Brands, Inc.(1)        3,233     199,993
Lowe's Cos., Inc.       10,117   1,924,051
O'Reilly Automotive, Inc.(1)          972     493,047
Ross Stores, Inc.        4,927     590,797
TJX Cos., Inc. (The)       16,616   1,099,148
Tractor Supply Co.        1,654     292,890
Ulta Beauty, Inc.(1)          809     250,119
      $10,791,469
Technology Hardware, Storage & Peripherals — 5.8%  
Apple, Inc.   219,908 $26,861,762
Hewlett Packard Enterprise Co.   18,725 294,732
HP, Inc.   17,334 550,354
NetApp, Inc.   3,171 230,437
Seagate Technology PLC   2,780 213,365
Western Digital Corp.(1)   4,456 297,438
      $28,448,088
Textiles, Apparel & Luxury Goods — 0.7%  
Hanesbrands, Inc.   5,429 $106,788
NIKE, Inc., Class B   17,597 2,338,465
PVH Corp.(1)   1,085 114,685
Ralph Lauren Corp., Class A(1)   811 99,883
Tapestry, Inc.(1)   3,845 158,452
Under Armour, Inc., Class A(1)   2,891 64,065
Under Armour, Inc., Class C(1)   3,507 64,739
VF Corp.   4,653 371,868
      $3,318,945
Tobacco — 0.7%  
Altria Group, Inc.   25,723 $1,315,989
Philip Morris International, Inc.   21,552 1,912,524
      $3,228,513
Trading Companies & Distributors — 0.2%  
Fastenal Co.   7,949 $399,676
United Rentals, Inc.(1)   1,024 337,213
W.W. Grainger, Inc.   609 244,166
      $981,055
Water Utilities — 0.1%  
American Water Works Co., Inc.   2,637 $395,339
      $395,339
Security Shares Value
Wireless Telecommunication Services — 0.2%  
T-Mobile US, Inc.(1)        8,084 $  1,012,844
      $  1,012,844
Total Common Stocks
(identified cost $166,261,068) 		    $468,625,552
    
Exchange-Traded Funds — 1.9%
    
Security Shares Value
SPDR S&P 500 ETF Trust(4)       23,000 $  9,115,590
Total Exchange-Traded Funds
(identified cost $8,939,620) 		    $  9,115,590
    
Short-Term Investments — 2.8%      
Other — 2.6%
Description Units Value
Calvert Cash Reserves Fund, LLC, 0.07%(5)   12,903,098 $ 12,904,388
Total Other
(identified cost $12,904,388) 		    $ 12,904,388
U.S. Treasury Obligations — 0.2%
Security Principal
Amount
(000's omitted) 		Value
U.S. Treasury Bill, 0.00%, 2/24/22(6) $      1,000 $    999,543
Total U.S. Treasury Obligations
(identified cost $999,383) 		    $    999,543
Total Short-Term Investments
(identified cost $13,903,771) 		    $ 13,903,931
Total Investments — 100.1%
(identified cost $189,104,459) 		    $491,645,073
Other Assets, Less Liabilities — (0.1)%     $   (384,964)
Net Assets — 100.0%     $491,260,109
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
(1) Non-income producing security.
(2) Represents an investment in an issuer that is deemed to be an affiliate effective March 1, 2021.
(3) Amount is less than 0.05%.
 
8

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
(4) All or a portion of this security was on loan at March 31, 2021. The aggregate market value of securities on loan at March 31, 2021 was $9,215,745 and the total market value of the collateral received by the Fund was $9,408,556, comprised of U.S. government and/or agencies securities.
(5) 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
March 31, 2021.
(6) Security (or a portion thereof) has been pledged to cover margin requirements on open futures contracts.
 
Futures Contracts
Description Number of
Contracts 		Position Expiration
Date 		Notional
Amount 		Value/
Unrealized
Appreciation
(Depreciation)
Equity Futures          
E-mini S&P 500 Index 72 Long 6/18/21 $14,282,640 $175,310
          $175,310
At March 31, 2021, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
During the fiscal year to date ended March 31, 2021, the Fund used futures contracts to provide equity market exposure for uncommitted cash balances.
At March 31, 2021, the value of the Fund’s investment in affiliated issuers and funds was $14,517,231, which represents 3.0% of the Fund’s net assets. Transactions in affiliated issuers and funds by the Fund for the fiscal year to date ended March 31, 2021 were as follows:
Name Value,
beginning
of period 		Purchases Sales
proceeds 		Net
realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Value,
end of
period 		Dividend
income 		Shares/Units,
end of period
Common Stocks                
Morgan Stanley(1) $ — $    19,756 $    (72,315) $ — $16,413 $ 1,612,843 $ — 20,768
Short-Term Investments                
Calvert Cash Reserves Fund, LLC 11,649,985 23,394,460 (22,140,057)  —  — 12,904,388 1,570 12,903,098
Totals       $ — $16,413 $14,517,231 $1,570  
    
(1) Affiliated issuer as of March 1, 2021.
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.
9

 

Calvert
VP S&P 500® Index Portfolio
March 31, 2021
Schedule of Investments (Unaudited) — continued
The following table summarizes the market value of the Fund's holdings as of March 31, 2021, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3 Total
Common Stocks $468,625,552(1) $ — $ — $468,625,552
Exchange-Traded Funds 9,115,590  —  — 9,115,590
Short-Term Investments:        
Other  — 12,904,388  — 12,904,388
U.S. Treasury Obligations  — 999,543  — 999,543
Total Investments $477,741,142 $13,903,931 $ — $491,645,073
Futures Contracts $175,310 $ — $ — $175,310
Total $477,916,452 $13,903,931 $ — $491,820,383
    
(1) The level classification by major category of investments is the same as the category presentation in the Schedule of Investments.
For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semiannual or annual report to shareholders.
10