Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited)
| Asset-Backed Securities — 13.6% |
| Security | Principal Amount (000's omitted) | Value | |
| GoodLeap Sustainable Home Solutions Trust: | |||
| Series 2021-4GS, Class A, 1.93%, 7/20/48(1) | $ | 1,756 | $ 1,499,807 |
| Series 2021-5CS, Class A, 2.31%, 10/20/48(1) | 1,516 | 1,320,147 | |
| Series 2022-2CS, Class A, 4.00%, 4/20/49(1) | 3,429 | 3,250,502 | |
| Helios Issuer, LLC, Series 2020-AA, Class A, 2.98%, 6/20/47(1) | 6,563 | 6,008,644 | |
| Loanpal Solar Loan, Ltd., Series 2020-1GS, Class C, 2.00%, 6/20/47(1) | 4,607 | 3,859,088 | |
| Luminace Issuer, LLC, Series 2022-1, Class A, 4.88%, 7/31/62(1) | 3,000 | 2,933,967 | |
| Mill City Solar Loan, Ltd., Series 2020-1A, Class C, 2.00%, 6/20/47(1) | 542 | 459,871 | |
| Mosaic Solar Loan Trust: | |||
| Series 2018-1A, Class A, 4.01%, 6/22/43(1) | 587 | 567,085 | |
| Series 2018-1A, Class B, 2.00%, 6/22/43(1) | 1,889 | 1,708,789 | |
| Series 2019-1A, Class A, 4.37%, 12/21/43(1) | 858 | 822,492 | |
| Series 2019-2A, Class A, 2.88%, 9/20/40(1) | 2,866 | 2,614,597 | |
| Series 2019-2A, Class B, 3.28%, 9/20/40(1) | 2,841 | 2,638,248 | |
| Series 2019-2A, Class C, 4.35%, 9/20/40(1) | 178 | 177,825 | |
| Series 2020-1A, Class A, 2.10%, 4/20/46(1) | 1,279 | 1,162,376 | |
| Series 2020-1A, Class B, 3.10%, 4/20/46(1) | 1,470 | 1,355,664 | |
| Series 2020-2A, Class B, 2.21%, 8/20/46(1) | 1,788 | 1,578,918 | |
| Series 2021-1A, Class A, 1.51%, 12/20/46(1) | 2,126 | 1,835,600 | |
| Series 2021-1A, Class B, 2.05%, 12/20/46(1) | 1,020 | 882,128 | |
| Series 2021-1A, Class C, 2.25%, 12/20/46(1) | 878 | 807,709 | |
| Series 2021-2A, Class A, 1.64%, 4/22/47(1) | 2,343 | 2,056,736 | |
| Mosaic Solar Loans, LLC: | |||
| Series 2017-1A, Class A, 4.45%, 6/20/42(1) | 426 | 417,378 | |
| Series 2017-2A, Class A, 3.82%, 6/22/43(1) | 48 | 46,005 | |
| Series 2017-2A, Class C, 2.00%, 6/22/43(1) | 516 | 500,866 | |
| SolarCity LMC Series I, LLC, Series 2013-1, Class A, 4.80%, 11/20/38(1) | 121 | 117,053 | |
| Sunnova Helios II Issuer, LLC: | |||
| Series 2019-AA, Class C, 5.32%, 6/20/46(1) | 1,193 | 1,143,381 | |
| Series 2021-A, Class A, 1.80%, 2/20/48(1) | 2,675 | 2,337,821 | |
| Series 2021-A, Class B, 3.15%, 2/20/48(1) | 4,896 | 4,171,476 | |
| Series 2021-B, Class B, 2.01%, 7/20/48(1) | 3,496 | 3,081,644 | |
| Sunnova Sol II Issuer, LLC: | |||
| Series 2020-2A, Class A, 2.73%, 11/1/55(1) | 1,931 | 1,660,799 | |
| Series 2020-2A, Class B, 5.47%, 11/1/55(1) | 7,380 | 6,744,399 | |
| Sunnova Sol Issuer, LLC, Series 2020-1A, Class A, 3.35%, 2/1/55(1) | 2,809 | 2,499,394 | |
| Sunrun Atlas Issuer, LLC, Series 2019-2, Class A, 3.61%, 2/1/55(1) | 2,360 | 2,145,071 | |
| Sunrun Callisto Issuer, LLC, Series 2015-1A, Class B, 5.38%, 7/20/45(1) | 721 | 679,517 | |
| Security | Principal Amount (000's omitted) | Value | |
| Sunrun Demeter Issuer, LLC, Series 2021-2A, Class A, 2.27%, 1/30/57(1) | $ | 8,137 | $ 6,842,580 |
| Sunrun Jupiter Issuer, LLC, Series 2022-1A, Class A, 4.75%, 7/30/57(1) | 4,360 | 4,159,903 | |
| Sunrun Vulcan Issuer, LLC, Series 2021-1A, Class A, 2.46%, 1/30/52(1) | 5,252 | 4,572,395 | |
| Sunrun Xanadu Issuer, LLC, Series 2019-1A, Class A, 3.98%, 6/30/54(1) | 2,174 | 2,049,824 | |
| TES, LLC, Series 2017-1A, Class A, 4.33%, 10/20/47(1) | 2,453 | 2,305,130 | |
| Tesla Auto Lease Trust: | |||
| Series 2019-A, Class A4, 2.20%, 11/21/22(1) | 1,570 | 1,568,296 | |
| Series 2019-A, Class B, 2.41%, 12/20/22(1) | 3,270 | 3,262,303 | |
| Series 2019-A, Class E, 5.48%, 5/22/23(1) | 1,545 | 1,552,342 | |
| Series 2020-A, Class A3, 0.68%, 12/20/23(1) | 3,744 | 3,699,300 | |
| Series 2020-A, Class C, 1.68%, 2/20/24(1) | 2,000 | 1,963,639 | |
| Series 2020-A, Class D, 2.33%, 2/20/24(1) | 1,695 | 1,656,381 | |
| Series 2020-A, Class E, 4.64%, 8/20/24(1) | 3,123 | 3,089,738 | |
| Series 2021-A, Class B, 1.02%, 3/20/25(1) | 1,700 | 1,615,732 | |
| Series 2021-A, Class D, 1.34%, 3/20/25(1) | 3,500 | 3,276,179 | |
| Vivint Solar Financing V, LLC, Series 2018-1A, Class A, 4.73%, 4/30/48(1) | 1,395 | 1,332,489 | |
| Vivint Solar Financing VII, LLC, Series 2020-1A, Class A, 2.21%, 7/31/51(1) | 5,045 | 4,267,008 | |
| Total Asset-Backed Securities (identified cost $120,888,049) | $110,298,236 | ||
| Commercial Mortgage-Backed Securities — 5.7% |
| Security | Principal Amount (000's omitted) | Value | |
| Federal Home Loan Mortgage Corp. Multifamily Structured Pass Through Certificates: | |||
| Series KG02, Class A2, 2.412%, 8/25/29 | $ | 4,050 | $ 3,740,117 |
| Series KG03, Class A2, 1.297%, 6/25/30(2) | 1,360 | 1,144,955 | |
| Series KG04, Class A1, 0.845%, 6/25/30 | 3,751 | 3,265,519 | |
| Federal National Mortgage Association: | |||
| Series 2017-M13, Class A2, 3.024%, 9/25/27(2) | 3,605 | 3,554,248 | |
| Series 2018-M4, Class A2, 3.158%, 3/25/28(2) | 3,363 | 3,299,139 | |
| Series 2018-M13, Class A2, 3.87%, 9/25/30(2) | 3,348 | 3,395,635 | |
| Series 2019-M1, Class A2, 3.671%, 9/25/28(2) | 3,954 | 3,964,232 | |
| Series 2019-M22, Class A2, 2.522%, 8/25/29 | 6,929 | 6,498,401 | |
| Series 2020-M1, Class A2, 2.444%, 10/25/29 | 7,842 | 7,338,118 | |
| Series 2020-M20, Class A2, 1.435%, 10/25/29 | 4,250 | 3,708,494 | |
| SLG Office Trust, Series 2021-OVA, Class A, 2.585%, 7/15/41(1) | 7,179 | 6,109,045 | |
| Total Commercial Mortgage-Backed Securities (identified cost $50,551,144) | $46,017,903 | ||
1
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
| Corporate Bonds — 59.9% |
| Security | Principal Amount (000's omitted)* | Value | |
| Communications — 1.5% | |||
| Verizon Communications, Inc.: | |||
| 1.50%, 9/18/30 | 9,234 | $ 7,388,438 | |
| 2.85%, 9/3/41 | 3,000 | 2,253,671 | |
| 3.875%, 3/1/52 | 3,000 | 2,520,882 | |
| $ 12,162,991 | |||
| Consumer, Cyclical — 1.1% | |||
| Aptiv PLC, 3.10%, 12/1/51 | 1,755 | $ 1,135,305 | |
| Ford Motor Co., 3.25%, 2/12/32 | 7,121 | 5,350,541 | |
| Walmart, Inc., 1.80%, 9/22/31 | 2,982 | 2,534,624 | |
| $9,020,470 | |||
| Consumer, Non-cyclical — 2.2% | |||
| Coca-Cola Femsa SAB de CV, 1.85%, 9/1/32 | 3,470 | $2,700,042 | |
| Conservation Fund (The), Green Bonds, 3.474%, 12/15/29 | 2,345 | 2,167,222 | |
| Kaiser Foundation Hospitals, 3.15%, 5/1/27 | 1,208 | 1,174,725 | |
| Koninklijke Philips NV, 0.50%, 5/22/26(3) | EUR | 8,650 | 8,409,167 |
| PepsiCo, Inc., 2.875%, 10/15/49(4) | 3,815 | 3,036,367 | |
| $17,487,523 | |||
| Energy — 2.3% | |||
| Hanwha Energy USA Holdings Corp., 2.375%, 7/30/22(1) | 2,500 | $2,498,028 | |
| TerraForm Power Operating, LLC: | |||
| 4.75%, 1/15/30(1) | 18,294 | 15,700,734 | |
| 5.00%, 1/31/28(1) | 867 | 786,907 | |
| $18,985,669 | |||
| Financial — 23.7% | |||
| Alexandria Real Estate Equities, Inc., 2.00%, 5/18/32 | 6,900 | $5,457,735 | |
| Bank Hapoalim BM, 3.255% to 1/21/27, 1/21/32(1)(3)(5) | 6,600 | 5,676,000 | |
| Bank of America Corp., 2.456% to 10/22/24, 10/22/25(5) | 25,825 | 24,625,441 | |
| Bank of Nova Scotia (The), 2.375%, 1/18/23 | 1,408 | 1,403,584 | |
| BNP Paribas S.A.: | |||
| 0.375% to 10/14/26, 10/14/27(3)(4)(5) | EUR | 7,500 | 6,959,093 |
| 1.675% to 6/30/26, 6/30/27(1)(5) | 3,000 | 2,647,910 | |
| Boston Properties, L.P.: | |||
| 2.45%, 10/1/33 | 10,333 | 7,949,850 | |
| 3.40%, 6/21/29 | 4,950 | 4,441,534 | |
| Canadian Imperial Bank of Commerce, 0.95%, 10/23/25 | 4,770 | 4,307,640 | |
| Citigroup, Inc., 1.678% to 5/15/23, 5/15/24(5) | 8,575 | 8,406,289 | |
| Cooperatieve Rabobank UA, 1.106% to 2/24/26, 2/24/27(1)(4)(5) | 7,021 | 6,201,710 | |
| Security | Principal Amount (000's omitted)* | Value | |
| Financial (continued) | |||
| DBS Group Holdings Ltd., 1.804%, (3 mo. USD LIBOR + 0.62%), 7/25/22(1)(6) | 3,640 | $ 3,636,396 | |
| Digital Dutch Finco BV, 1.50%, 3/15/30(3) | EUR | 6,300 | 5,362,312 |
| Digital Euro Finco, LLC, 2.50%, 1/16/26(3)(4) | EUR | 8,700 | 8,783,577 |
| Equinix, Inc.: | |||
| 2.50%, 5/15/31 | 8,700 | 7,057,777 | |
| 3.90%, 4/15/32 | 3,000 | 2,716,783 | |
| HAT Holdings I, LLC/HAT Holdings II, LLC: | |||
| 3.375%, 6/15/26(1) | 12,396 | 10,692,728 | |
| 3.75%, 9/15/30(1) | 6,592 | 5,269,744 | |
| 6.00%, 4/15/25(1) | 76 | 72,909 | |
| ING Groep NV: | |||
| 1.40% to 7/1/25, 7/1/26(1)(5) | 6,632 | 6,031,079 | |
| 4.625%, 1/6/26(1) | 2,675 | 2,673,666 | |
| JPMorgan Chase & Co., 0.653% to 9/16/23, 9/16/24(5) | 6,862 | 6,579,497 | |
| Kimco Realty Corp., 2.70%, 10/1/30 | 3,000 | 2,584,784 | |
| Metropolitan Life Global Funding I, 0.95%, 7/2/25(1)(4) | 5,720 | 5,265,506 | |
| Mitsubishi UFJ Financial Group, Inc., 2.527%, 9/13/23(7) | 1,100 | 1,087,115 | |
| National Australia Bank, Ltd., 3.625%, 6/20/23 | 3,243 | 3,265,554 | |
| PNC Financial Services Group, Inc. (The), 2.20%, 11/1/24 | 8,027 | 7,781,054 | |
| Prologis Euro Finance, LLC, 0.375%, 2/6/28 | EUR | 6,700 | 5,995,472 |
| Prologis, L.P., 1.25%, 10/15/30 | 3,727 | 2,949,468 | |
| Prudential Financial, Inc., 1.50%, 3/10/26 | 3,431 | 3,150,843 | |
| Regency Centers, L.P., 3.75%, 6/15/24(4) | 2,500 | 2,486,362 | |
| Royal Bank of Canada, 0.25%, 5/2/24(3) | EUR | 8,600 | 8,739,115 |
| Sumitomo Mitsui Financial Group, Inc., 0.508%, 1/12/24 | 3,000 | 2,858,481 | |
| Vornado Realty L.P., 2.15%, 6/1/26 | 4,500 | 4,014,881 | |
| Welltower, Inc., 2.70%, 2/15/27 | 5,380 | 4,973,119 | |
| $192,105,008 | |||
| Government - Multinational — 6.0% | |||
| Asian Development Bank: | |||
| 2.125%, 3/19/25 | 750 | $731,063 | |
| 2.375%, 8/10/27 | 750 | 721,859 | |
| 3.125%, 9/26/28 | 800 | 795,252 | |
| European Bank for Reconstruction & Development: | |||
| 1.50%, 2/13/25 | 3,045 | 2,924,369 | |
| 1.625%, 9/27/24 | 2,635 | 2,554,634 | |
| European Investment Bank: | |||
| 1.00%, 11/14/42(3) | EUR | 3,400 | 2,772,597 |
| 1.625%, 5/13/31 | 3,960 | 3,513,201 | |
| 2.375%, 5/24/27 | 8,671 | 8,379,312 | |
| 2.50%, 10/15/24 | 6,200 | 6,128,706 | |
| 2.875%, 6/13/25(1) | 8,202 | 8,156,614 | |
| 3.30%, 2/3/28 | AUD | 1,300 | 855,735 |
2
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted)* | Value | |
| Government - Multinational (continued) | |||
| International Bank for Reconstruction & Development: | |||
| 0.625%, 11/22/27 | EUR | 3,550 | $ 3,513,397 |
| 2.125%, 3/3/25 | 2,000 | 1,952,326 | |
| 3.125%, 11/20/25 | 4,150 | 4,151,755 | |
| International Finance Corp., 2.125%, 4/7/26 | 1,547 | 1,491,027 | |
| $ 48,641,847 | |||
| Government - Regional — 0.6% | |||
| Kommuninvest I Sverige AB, 0.375%, 6/19/24(1) | 4,785 | $ 4,535,071 | |
| $4,535,071 | |||
| Industrial — 3.2% | |||
| Jabil, Inc., 4.25%, 5/15/27 | 5,000 | $4,856,424 | |
| Johnson Controls International plc/Tyco Fire & Security Finance SCA, 1.75%, 9/15/30(4) | 6,950 | 5,657,738 | |
| Owens Corning, 3.95%, 8/15/29 | 11,882 | 11,033,282 | |
| Xylem, Inc.: | |||
| 1.95%, 1/30/28 | 3,400 | 3,005,862 | |
| 2.25%, 1/30/31(4) | 1,821 | 1,519,148 | |
| $26,072,454 | |||
| Technology — 4.4% | |||
| Apple, Inc., 0.50%, 11/15/31 | EUR | 22,438 | $19,799,434 |
| Micron Technology, Inc., 2.703%, 4/15/32 | 3,840 | 3,066,204 | |
| NXP BV/NXP Funding, LLC/NXP USA, Inc.: | |||
| 2.50%, 5/11/31 | 5,000 | 4,115,593 | |
| 3.40%, 5/1/30 | 2,861 | 2,526,578 | |
| SK Hynix, Inc., 2.375%, 1/19/31(1) | 8,000 | 6,310,600 | |
| $35,818,409 | |||
| Utilities — 14.9% | |||
| AES Corp. (The), 2.45%, 1/15/31 | 18,302 | $14,738,109 | |
| Avangrid, Inc.: | |||
| 3.15%, 12/1/24 | 3,029 | 2,960,969 | |
| 3.80%, 6/1/29 | 8,600 | 8,053,599 | |
| Brookfield Renewable Partners ULC, 3.33%, 8/13/50 | CAD | 4,000 | 2,180,609 |
| Clearway Energy Operating, LLC: | |||
| 3.75%, 1/15/32(1) | 5,463 | 4,338,032 | |
| 4.75%, 3/15/28(1) | 4,300 | 3,875,791 | |
| Consolidated Edison Co. of New York, Inc., 3.60%, 6/15/61 | 3,000 | 2,371,732 | |
| Enel Finance International N.V.: | |||
| 1.125%, 9/16/26(3) | EUR | 6,100 | 6,004,419 |
| 1.375%, 7/12/26(1) | 3,197 | 2,809,210 | |
| 4.625%, 6/15/27(1) | 6,500 | 6,400,527 | |
| 5.00%, 6/15/32(1) | 2,092 | 2,022,011 | |
| Security | Principal Amount (000's omitted)* | Value | |
| Utilities (continued) | |||
| Liberty Utilities Finance GP 1, 2.05%, 9/15/30(1) | 12,994 | $ 10,668,115 | |
| MidAmerican Energy Co.: | |||
| 3.15%, 4/15/50 | 1,600 | 1,257,648 | |
| 3.65%, 8/1/48 | 4,490 | 3,820,487 | |
| 4.25%, 7/15/49 | 2,890 | 2,688,018 | |
| NextEra Energy Capital Holdings, Inc., 1.90%, 6/15/28 | 9,715 | 8,456,897 | |
| NextEra Energy Operating Partners, L.P.: | |||
| 4.25%, 9/15/24(1) | 257 | 246,372 | |
| 4.50%, 9/15/27(1) | 10,214 | 9,477,873 | |
| Niagara Mohawk Power Corp., 1.96%, 6/27/30(1) | 3,782 | 3,132,798 | |
| Northern States Power Co., 2.60%, 6/1/51 | 6,100 | 4,308,865 | |
| NSTAR Electric Co., 3.25%, 5/15/29 | 4,000 | 3,790,147 | |
| Pattern Energy Operations, L.P./Pattern Energy Operations, Inc., 4.50%, 8/15/28(1) | 9,916 | 8,645,413 | |
| Public Service Co. of Colorado: | |||
| 3.20%, 3/1/50 | 5,000 | 3,944,499 | |
| 4.10%, 6/15/48 | 1,000 | 914,633 | |
| Terraform Global Operating, LLC, 6.125%, 3/1/26(1) | 1,595 | 1,519,672 | |
| Tucson Electric Power Co., 1.50%, 8/1/30 | 3,300 | 2,636,085 | |
| $121,262,530 | |||
| Total Corporate Bonds (identified cost $565,101,992) | $486,091,972 | ||
| High Social Impact Investments — 0.2% |
| Security | Principal Amount (000's omitted) | Value | |
| Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23(8)(9) | $ | 1,700 | $ 1,576,988 |
| Total High Social Impact Investments (identified cost $1,700,000) | $ 1,576,988 | ||
| Preferred Stocks — 1.3% |
| Security | Shares | Value | |
| Electric Utilities — 0.7% | |||
| Brookfield BRP Holdings Canada, Inc., 4.625% | 353,000 | $ 6,011,590 | |
| $ 6,011,590 | |||
3
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
| Security | Shares | Value | |
| Real Estate Management & Development — 0.6% | |||
| Brookfield Property Partners, L.P.: | |||
| Series A, 5.75% | 92,000 | $ 1,571,360 | |
| Series A2, 6.375% | 169,100 | 3,332,961 | |
| $ 4,904,321 | |||
| Total Preferred Stocks (identified cost $15,400,394) | $ 10,915,911 | ||
| Senior Floating-Rate Loans — 0.9%(10) |
| Borrower/Description | Principal Amount (000's omitted) | Value | |
| Machinery — 0.9% | |||
| EWT Holdings III Corp., Term Loan, 4.188%, (1 mo. LIBOR + 2.50%), 4/1/28 | $ | 7,762 | $ 7,542,152 |
| Total Senior Floating-Rate Loans (identified cost $7,741,571) | $ 7,542,152 | ||
| Sovereign Government Bonds — 9.9% |
| Security | Principal Amount (000's omitted)* | Value | |
| Chile Government International Bond, 2.55%, 1/27/32 | 1,500 | $ 1,277,193 | |
| French Republic Government Bond OAT, 0.50%, 6/25/44(1)(3) | EUR | 38,790 | 27,608,776 |
| Italy Buoni Poliennali Del Tesoro, 1.50%, 4/30/45(1)(3) | EUR | 13,400 | 9,687,914 |
| Kommunalbanken AS, 2.125%, 2/11/25(1) | 3,000 | 2,925,402 | |
| Kreditanstalt fuer Wiederaufbau: | |||
| 0.75%, 9/30/30 | 3,034 | 2,512,037 | |
| 1.00%, 10/1/26 | 5,023 | 4,604,000 | |
| 1.75%, 9/14/29 | 2,200 | 2,007,322 | |
| Kuntarahoitus Oyj, 0.05%, 9/6/29(3) | EUR | 3,750 | 3,442,877 |
| Nederlandse Waterschapsbank NV: | |||
| 1.00%, 5/28/30(1) | 2,400 | 2,021,318 | |
| 2.375%, 3/24/26(1) | 4,866 | 4,723,956 | |
| Netherlands Government Bond, 0.50%, 1/15/40(1)(3) | EUR | 6,400 | 5,260,032 |
| Province of Ontario Canada: | |||
| 1.95%, 1/27/23 | CAD | 3,200 | 2,474,605 |
| 2.65%, 2/5/25 | CAD | 5,000 | 3,813,160 |
| South Coast British Columbia Transportation Authority, 2.65%, 10/29/50 | CAD | 5,490 | 3,023,936 |
| Sweden Government International Bond, 0.125%, 9/9/30(1) | SEK | 61,500 | 5,281,013 |
| Total Sovereign Government Bonds (identified cost $97,903,870) | $80,663,541 | ||
| Taxable Municipal Obligations — 2.7% |
| Security | Principal Amount (000's omitted) | Value | |
| General Obligations — 0.9% | |||
| Massachusetts, Green Bonds, 3.277%, 6/1/46 | $ | 8,240 | $ 6,923,248 |
| $ 6,923,248 | |||
| Water and Sewer — 1.8% | |||
| District of Columbia Water & Sewer Authority, Green Bonds, 4.814%, 10/1/2114 | $ | 1,665 | $ 1,677,754 |
| Massachusetts Water Pollution Abatement Trust, 5.192%, 8/1/40(11) | 135 | 141,290 | |
| Narragansett Bay Commission, RI, Wastewater System Revenue: | |||
| Green Bonds, 2.094%, 9/1/30 | 620 | 537,924 | |
| Green Bonds, 2.184%, 9/1/31 | 500 | 428,605 | |
| Green Bonds, 2.264%, 9/1/32 | 445 | 376,888 | |
| Green Bonds, 2.344%, 9/1/33 | 1,445 | 1,204,480 | |
| New York City Municipal Water Finance Authority, NY, (Water and Sewer System), 5.882%, 6/15/44(11) | 605 | 735,595 | |
| San Francisco City and County Public Utilities Commission, CA, Water Revenue, Green Bonds, 3.303%, 11/1/39 | 10,705 | 9,479,063 | |
| $14,581,599 | |||
| Total Taxable Municipal Obligations (identified cost $24,886,215) | $21,504,847 | ||
| U.S. Government Agencies and Instrumentalities — 1.2% |
| Security | Principal Amount (000's omitted) | Value | |
| U.S. International Development Finance Corp.: | |||
| 1.79%, 10/15/29 | $ | 3,720 | $ 3,505,325 |
| 2.36%, 10/15/29 | 2,410 | 2,322,112 | |
| 3.16%, 6/1/33 | 160 | 156,624 | |
| 3.22%, 9/15/29 | 599 | 596,066 | |
| 3.52%, 9/20/32 | 2,781 | 2,788,805 | |
| Total U.S. Government Agencies and Instrumentalities (identified cost $9,670,270) | $ 9,368,932 | ||
4
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
| U.S. Government Agency Mortgage-Backed Securities — 0.2% |
| Security | Principal Amount (000's omitted) | Value | |
| Federal National Mortgage Association, Pool #AN1909, 2.68%, 7/1/26 | $ | 1,967 | $ 1,912,469 |
| Total U.S. Government Agency Mortgage-Backed Securities (identified cost $1,989,814) | $ 1,912,469 | ||
| Short-Term Investments — 4.2% | |||
| Affiliated Fund — 3.1% | |||
| Security | Shares | Value | |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 1.38%(12) | 25,280,312 | $ 25,280,312 | |
| Total Affiliated Fund (identified cost $25,280,312) | $ 25,280,312 | ||
| Securities Lending Collateral — 1.1% | |||
| Security | Shares | Value | |
| State Street Navigator Securities Lending Government Money Market Portfolio, 1.56%(13) | 8,795,827 | $ 8,795,827 | |
| Total Securities Lending Collateral (identified cost $8,795,827) | $ 8,795,827 | ||
| Total Short-Term Investments (identified cost $34,076,139) | $ 34,076,139 | ||
| Total Investments — 99.8% (identified cost $929,909,458) | $809,969,090 | ||
| Other Assets, Less Liabilities — 0.2% | $ 1,293,138 | ||
| Net Assets — 100.0% | $811,262,228 | ||
| 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 June 30, 2022, the aggregate value of these securities is $313,207,108 or 38.6% of the Fund's net assets. |
| (2) | Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at June 30, 2022. |
| (3) | 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 June 30, 2022, the aggregate value of these securities is $98,705,879 or 12.2% of the Fund's net assets. |
| (4) | All or a portion of this security was on loan at June 30, 2022. The aggregate market value of securities on loan at June 30, 2022 was $8,684,377 and the total market value of the collateral received by the Fund was $8,909,763, comprised of cash of $8,795,827 and U.S. government and/or agencies securities of $113,936. |
| (5) | Security converts to variable rate after the indicated fixed-rate coupon period. |
| (6) | Variable rate security. The stated interest rate represents the rate in effect at June 30, 2022. |
| (7) | Represents an investment in an issuer that may be deemed to be an affiliate. |
| (8) | May be deemed to be an affiliated company. |
| (9) | Restricted security. Total market value of restricted securities amounts to $1,576,988, which represents 0.2% of the net assets of the Fund as of June 30, 2022. |
| (10) | 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. |
| (11) | 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. |
| (12) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of June 30, 2022. |
| (13) | Represents investment of cash collateral received in connection with securities lending. |
| Country Allocation (% of Total Investments) | |
| United States | 69.9% |
| Netherlands | 5.0 |
| France | 4.6 |
| Canada | 3.9 |
| Luxembourg | 3.7 |
| Italy | 3.3 |
| Other (less than 3.0% each) | 9.6 |
| Total | 100.0% |
5
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
Forward Foreign Currency Exchange Contracts
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
| EUR | 8,069,498 | USD | 8,439,438 | State Street Bank and Trust Company | 8/31/22 | $50,718 | $ — |
| EUR | 4,204,938 | USD | 4,484,090 | State Street Bank and Trust Company | 8/31/22 | — | (59,951) |
| USD | 2,561,875 | AUD | 3,609,626 | State Street Bank and Trust Company | 8/31/22 | 69,140 | — |
| USD | 6,498,743 | CAD | 8,332,000 | State Street Bank and Trust Company | 8/31/22 | 25,001 | — |
| USD | 5,483,655 | CAD | 7,032,000 | State Street Bank and Trust Company | 8/31/22 | 19,978 | — |
| USD | 72,636,500 | EUR | 67,510,000 | State Street Bank and Trust Company | 8/31/22 | 1,607,249 | — |
| USD | 43,004,504 | EUR | 40,000,000 | State Street Bank and Trust Company | 8/31/22 | 919,330 | — |
| USD | 31,233,859 | EUR | 29,000,000 | State Street Bank and Trust Company | 8/31/22 | 722,108 | — |
| USD | 6,264,192 | SEK | 61,714,020 | State Street Bank and Trust Company | 8/31/22 | 217,612 | — |
| $3,631,136 | $(59,951) | ||||||
Futures Contracts
| Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/ Unrealized Appreciation (Depreciation) |
| Interest Rate Futures | |||||
| U.S. 2-Year Treasury Note | 317 | Long | 9/30/22 | $66,574,953 | $(366,171) |
| U.S. 5-Year Treasury Note | 85 | Long | 9/30/22 | 9,541,250 | (78,505) |
| U.S. 10-Year Treasury Note | 180 | Long | 9/21/22 | 21,335,625 | (303,889) |
| U.S. Long Treasury Bond | (93) | Short | 9/21/22 | (12,892,125) | 215,615 |
| U.S. Ultra 10-Year Treasury Note | (582) | Short | 9/21/22 | (74,132,250) | 1,151,173 |
| U.S. Ultra-Long Treasury Bond | (66) | Short | 9/21/22 | (10,186,687) | 225,603 |
| $843,826 |
Restricted Securities
| Description | Acquisition Date | Cost |
| Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23 | 12/14/20 | $1,700,000 |
| Abbreviations: | |
| LIBOR | – London Interbank Offered Rate |
| Currency Abbreviations: | |
| AUD | – Australian Dollar |
| CAD | – Canadian Dollar |
| EUR | – Euro |
| SEK | – Swedish Krona |
| USD | – United States Dollar |
At June 30, 2022, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
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 June 30, 2022, 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.
6
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
Interest Rate Risk: During the fiscal year to date ended June 30, 2022, the Fund used futures contracts to hedge interest rate risk and to manage duration.
Affiliated Investments
The Fund invested in issuers that may be deemed to be affiliated with Morgan Stanley. At June 30, 2022, the value of the Fund's investment in Calvert Impact Capital, Inc. (the Notes) and affiliated issuers and funds was $27,944,415, which represents 3.4% of the Fund's net assets. Transactions in the Notes and affiliated issuers and funds by the Fund for the fiscal year to date ended June 30, 2022 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/Shares, end of period |
| Corporate Bonds | ||||||||
| Mitsubishi UFJ Financial Group, Inc., 2.527%, 9/13/23 | $ 1,144,169 | $ — | $ — | $ — | $ (60,336) | $ 1,087,115 | $ 24,129 | $ 1,100,000 |
| High Social Impact Investments | ||||||||
| Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23(1) | 1,670,811 | — | — | — | (93,823) | 1,576,988 | 19,125 | 1,700,000 |
| Short-Term Investments | ||||||||
| Calvert Cash Reserves Fund, LLC | 35,218,651 | 189,412,024 | (224,630,844) | 3,690 | (3,521) | — | 18,181 | — |
| Liquidity Fund, Institutional Class(2) | — | 120,953,328 | (95,673,016) | — | — | 25,280,312 | 51,050 | 25,280,312 |
| Total | $3,690 | $(157,680) | $27,944,415 | $112,485 | ||||
| (1) | Restricted security. |
| (2) | 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 June 30, 2022, based on the inputs used to value them:
| Asset Description | Level 1 | Level 2 | Level 3 | Total |
| Asset-Backed Securities | $ — | $110,298,236 | $ — | $110,298,236 |
| Commercial Mortgage-Backed Securities | — | 46,017,903 | — | 46,017,903 |
| Corporate Bonds | — | 486,091,972 | — | 486,091,972 |
| High Social Impact Investments | — | 1,576,988 | — | 1,576,988 |
| Preferred Stocks | 10,915,911 | — | — | 10,915,911 |
| Senior Floating-Rate Loans | — | 7,542,152 | — | 7,542,152 |
| Sovereign Government Bonds | — | 80,663,541 | — | 80,663,541 |
| Taxable Municipal Obligations | — | 21,504,847 | — | 21,504,847 |
| U.S. Government Agencies and Instrumentalities | — | 9,368,932 | — | 9,368,932 |
| U.S. Government Agency Mortgage-Backed Securities | — | 1,912,469 | — | 1,912,469 |
| Short-Term Investments: | ||||
| Affiliated Fund | 25,280,312 | — | — | 25,280,312 |
| Securities Lending Collateral | 8,795,827 | — | — | 8,795,827 |
| Total Investments | $44,992,050 | $764,977,040 | $ — | $809,969,090 |
7
Calvert
Green Bond Fund
June 30, 2022
Schedule of Investments (Unaudited) — continued
| Asset Description (continued) | Level 1 | Level 2 | Level 3 | Total |
| Forward Foreign Currency Exchange Contracts | $ — | $3,631,136 | $ — | $3,631,136 |
| Futures Contracts | 1,592,391 | — | — | 1,592,391 |
| Total | $46,584,441 | $768,608,176 | $ — | $815,192,617 |
| Liability Description | ||||
| Forward Foreign Currency Exchange Contracts | $ — | $(59,951) | $ — | $(59,951) |
| Futures Contracts | (748,565) | — | — | (748,565) |
| Total | $(748,565) | $(59,951) | $ — | $(808,516) |
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.
8