Parametric Commodity Strategy Fund

March 31, 2019

CONSOLIDATED PORTFOLIO OF INVESTMENTS (Unaudited)

Short-Term Investments — 98.2%
U.S. Treasury Obligations — 95.2%
Security	Principal Amount (000’s omitted)		Value
U.S. Treasury Bill, 0.00%, 4/25/19(1)	$	14,200	$	14,177,895
U.S. Treasury Bill, 0.00%, 6/13/19		11,000		10,947,299
U.S. Treasury Bill, 0.00%, 6/20/19(1)		9,600		9,549,671
U.S. Treasury Bill, 0.00%, 7/18/19		38,600		38,327,436
U.S. Treasury Bill, 0.00%, 8/15/19(1)		42,400		42,018,737
U.S. Treasury Bill, 0.00%, 9/12/19		9,000		8,903,165
U.S. Treasury Bill, 0.00%, 10/10/19		23,000		22,715,904
U.S. Treasury Bill, 0.00%, 11/7/19(1)		61,600		60,725,018
U.S. Treasury Bill, 0.00%, 1/2/20		67,400		66,198,207
U.S. Treasury Bill, 0.00%, 1/30/20		33,000		32,351,543
Total U.S. Treasury Obligations (identified cost $305,637,517)			$	305,914,875
Other — 3.0%
Description	Units		Value
Eaton Vance Cash Reserves Fund, LLC, 2.59%(2)		9,440,259	$	9,440,258
Total Other (identified cost $9,440,312)			$	9,440,258
Total Short-Term Investments (identified cost $315,077,829)			$	315,355,133
Total Investments — 98.2% (identified cost $315,077,829)			$	315,355,133
Other Assets, Less Liabilities — 1.8%			$	5,873,024
Net Assets — 100.0%			$	321,228,157

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

(1) Security (or a portion thereof) has been pledged as collateral for open futures contracts.

(2) Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of March 31, 2019. Net income from the investment in Eaton Vance Cash Reserves Fund, LLC for the fiscal year to date ended March 31, 2019 was $134,056.

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Futures Contracts

Description	Number of Contracts		Position		Expiration Date		Notional Amount			Value/ Unrealized Appreciation (Depreciation)
Commodity Futures
Brent Crude Oil		89		Long		5/31/19	$	5,981,690		$	118,939
Cocoa		270		Long		7/16/19		6,129,000			252,770
Coffee		314		Long		7/19/19		11,427,638			(616,838	)
Copper		161		Long		7/29/19		11,841,550			10,288
Corn		613		Long		7/12/19		11,225,563			(528,713	)
Cotton No. 2		155		Long		7/9/19		6,069,025			222,003
Feeder Cattle		39		Long		8/29/19		3,046,875			95,863
Gold		173		Long		6/26/19		22,464,050			(472,620	)
Hard Red Winter Wheat		130		Long		7/12/19		2,845,375			(86,550	)
Lean Hogs		163		Long		6/14/19		5,773,460			792,964
Live Cattle		242		Long		6/28/19		11,519,200			153,820
LME Copper		74		Long		4/17/19		12,003,725			1,054,038
LME Copper		76		Long		5/15/19		12,324,350			476,425
LME Copper		73		Long		6/19/19		11,837,863			11,406
LME Lead		109		Long		4/17/19		5,471,800			158,050
LME Lead		115		Long		5/15/19		5,788,813			(251,125	)
LME Lead		111		Long		6/19/19		5,597,175			(239,344	)
LME Nickel		162		Long		4/17/19		12,557,754			1,746,198
LME Nickel		157		Long		5/15/19		12,199,842			(65,118	)
LME Nickel		148		Long		6/19/19		11,530,680			(604,284	)
LME Primary Aluminum		480		Long		4/17/19		22,803,000			388,550
LME Primary Aluminum		487		Long		5/15/19		23,147,719			(282,238	)
LME Primary Aluminum		500		Long		6/19/19		23,887,500			412,500
LME Tin		27		Long		4/15/19		2,895,345			255,960
LME Tin		28		Long		5/13/19		3,001,180			82,600
LME Tin		27		Long		6/17/19		2,891,970			(19,440	)
LME Zinc		178		Long		4/17/19		13,237,638			2,400,775
LME Zinc		177		Long		5/15/19		13,070,344			967,638
LME Zinc		171		Long		6/19/19		12,546,056			677,588
Low Sulphur Gasoil		192		Long		6/12/19		11,702,400			(51,500	)
Natural Gas		727		Long		12/27/19		22,442,490			(623,410	)
NY Harbor ULSD		139		Long		5/31/19		11,528,882			(198,437	)
Palladium		21		Long		6/26/19		2,817,780			7,110
Platinum		139		Long		7/29/19		5,935,995			74,735
RBOB Gasoline		308		Long		5/31/19		24,164,448			1,130,885
Robusta Coffee		193		Long		5/24/19		2,810,080			(193,270	)
Silver		309		Long		7/29/19		23,490,180			4,156
Soybean		259		Long		7/12/19		11,625,863			(409,613	)
Soybean Meal		187		Long		7/12/19		5,797,000			(78,470	)
Soybean Oil		663		Long		7/12/19		11,412,882			(672,703	)
Sugar No. 11		416		Long		6/28/19		5,893,888			6,966
Wheat		255		Long		7/12/19		5,909,625			24,987
White Sugar		178		Long		4/15/19		2,890,720			(221,820	)
WTI Crude Oil		102		Long		5/21/19		6,148,560			293,760
LME Copper		74		Short		4/17/19		(12,003,725	)		(475,913	)
LME Copper		76		Short		5/15/19		(12,324,350	)		(11,875	)
LME Lead		109		Short		4/17/19		(5,471,800	)		249,338
LME Lead		115		Short		5/15/19		(5,788,813	)		250,844

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Description	Number of Contracts		Position		Expiration Date		Notional Amount			Value/ Unrealized Appreciation (Depreciation)
LME Nickel		162		Short		4/17/19	$	(12,557,754	)	$	104,490
LME Nickel		157		Short		5/15/19		(12,199,842	)		645,270
LME Primary Aluminum		480		Short		4/17/19		(22,803,000	)		201,000
LME Primary Aluminum		487		Short		5/15/19		(23,147,719	)		(398,731	)
LME Primary Aluminum		3		Short		6/19/19		(143,325	)		(3,731	)
LME Tin		27		Short		4/15/19		(2,895,345	)		(78,165	)
LME Tin		28		Short		5/13/19		(3,001,180	)		20,020
LME Zinc		178		Short		4/17/19		(13,237,638	)		(1,042,175	)
LME Zinc		177		Short		5/15/19		(13,070,344	)		(725,700	)
										$	4,940,153

Abbreviations:

LME	-	London Metal Exchange
RBOB	-	Reformulated Blendstock for Oxygenate Blending
ULSD	-	Ultra-Low Sulfur Diesel
WTI	-	West Texas Intermediate

Basis for Consolidation

The Fund seeks to gain exposure to the commodity markets, in whole or in part, through investments in PSC Commodity Subsidiary, Ltd. (the Subsidiary), a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands with the same objective and investment policies and restrictions as the Fund. The Fund may invest up to 25% of its total assets in the Subsidiary. The net assets of the Subsidiary at March 31, 2019 were $60,349,527 or 18.8% of the Fund’s consolidated net assets. The Consolidated Portfolio of Investments includes positions of the Fund and the Subsidiary.

At March 31, 2019, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.

The Fund is subject to commodity risk in the normal course of pursuing its investment objective. Commodity risk is the risk that the value of a commodity or commodity index will fluctuate based on increases or decreases in the commodities market and factors specific to a particular industry or commodity. The Fund invests primarily in commodities-linked derivative investments, including commodity futures contracts that provide exposure to the investment returns of the commodities markets, without investing directly in physical commodities.

At March 31, 2019, the aggregate fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) in an asset position and in a liability position and whose primary underlying risk exposure is commodity risk was $13,291,936 and $8,351,783, respectively.

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 — quoted prices in active markets for identical investments

• Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 — significant unobservable inputs (including a fund’s own assumptions in determining the fair value of investments)

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In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At March 31, 2019, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:

Asset Description	Level 1			Level 2		Level 3		Total
Short-Term Investments —
U.S. Treasury Obligations	$	—		$	305,914,875	$	—	$	305,914,875
Other		—			9,440,258		—		9,440,258
Total Investments	$	—		$	315,355,133	$	—	$	315,355,133
Futures Contracts	$	13,291,936		$	—	$	—	$	13,291,936
Total	$	13,291,936		$	315,355,133	$	—	$	328,647,069
Liability Description
Futures Contracts	$	(8,351,783	)	$	—	$	—	$	(8,351,783	)
Total	$	(8,351,783	)	$	—	$	—	$	(8,351,783	)

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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