Global Macro Capital Opportunities Portfolio NPORT-P Global Macro Capital Opportunities Portfolio (Jan 2020 report)

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited)

Common Stocks — 90.3%
Security		Shares			Value
________________________________________________________________________________________________________
Belgium — 0.1%
________________________________________________________________________________________________________
Titan Cement International SA(1)	9,600				$		199,664
________________________________________________________________________________________________________
						$	199,664
________________________________________________________________________________________________________
Brazil — 9.0%
________________________________________________________________________________________________________
AMBEV SA	191,400				$		797,761
Atacadao SA(1)	14,700						77,540
B2W Cia Digital(1)	11,100						184,542
B3 SA - Brasil Bolsa Balcao	84,100						946,533
Banco Bradesco SA	49,000						358,696
Banco Bradesco SA, PFC Shares	161,360						1,239,231
Banco BTG Pactual SA(1)	10,800						189,137
Banco do Brasil SA	34,600						392,165
Banco Santander Brasil SA	17,200						168,964
BB Seguridade Participacoes SA	29,900						242,825
BR Malls Participacoes SA	40,400						173,577
Braskem SA, PFC Shares	7,000						51,569
BRF SA(1)	25,000						178,338
CCR SA	52,600						224,028
Centrais Eletricas Brasileiras SA	7,900						72,348
Centrais Eletricas Brasileiras SA, PFC Shares	12,500						119,291
Centrais Eletricas Brasilier Receipt(1)	2,528						23,151
Cia Brasileira de Distribuicao, PFC Shares	7,800						154,958
Cia de Saneamento Basico do Estado de Sao Paulo	15,600						222,201
Cia Energetica de Minas Gerais, PFC Shares	45,400						158,486
Cia Siderurgica Nacional SA	23,200						69,883
Cielo SA	65,000						107,306
Cogna Educacao	61,300						166,326
Cosan SA	5,900						109,800
Embraer SA	34,200						144,862
Energisa SA	6,300						81,159
Engie Brasil Energia SA	8,900						108,169
Equatorial Energia SA	39,000						217,102
Gerdau SA, PFC Shares	47,200						220,978
Hypera SA	18,800						156,147
IRB Brasil Resseguros SA	30,000						314,038
Itau Unibanco Holding SA, PFC Shares	195,400						1,497,461
Itausa-Investimentos Itau SA, PFC Shares	179,700						539,612
JBS SA	45,600						293,665
Klabin SA	35,900						173,942
Localiza Rent a Car SA	25,410						318,204
Lojas Americanas SA, PFC Shares	35,300						227,085
Lojas Renner SA	31,210						418,674
M Dias Branco SA(1)	3,800						36,460
Magazine Luiza SA	44,400						578,508
Multiplan Empreendimentos Imobiliarios SA(1)	10,400						84,218
Natura &Co. Holding SA	18,900						209,980
Notre Dame Intermedica Participacoes SA	15,600						255,750
Petrobras Distribuidora SA	29,300						197,039
Petroleo Brasileiro SA	119,900						849,709
Petroleo Brasileiro SA, PFC Shares	169,600						1,126,680
Porto Seguro SA	3,600						55,590
Raia Drogasil SA	10,100						292,958
Rumo SA(1)	46,500						251,903
Sul America SA	12,300						180,942
Suzano SA	24,291						225,009
Telefonica Brasil SA, PFC Shares	19,200						266,261
TIM Participacoes SA(1)	35,900						140,411
Ultrapar Participacoes SA	35,400						208,799
Weg SA	37,600						346,009
________________________________________________________________________________________________________
						$	16,445,980
________________________________________________________________________________________________________
China — 11.7%
________________________________________________________________________________________________________
58.com, Inc. ADR(1)	1,900				$		105,678
AAC Technologies Holdings, Inc.	12,500						87,923
Alibaba Group Holding, Ltd. ADR(1)	19,654						4,060,320
Anhui Conch Cement Co., Ltd., Class H	24,000						153,184
ANTA Sports Products, Ltd.	17,000						148,005
Autohome, Inc. ADR(1)	1,200						91,776
Baidu, Inc. ADR(1)	3,980						491,769
Brilliance China Automotive Holdings, Ltd.	56,000						49,633
BYD Co., Ltd., Class H	14,500						75,484
CGN Power Co., Ltd., Class H(2)	155,000						38,037
China Cinda Asset Management Co., Ltd., Class H	147,000						29,400
China Communications Construction Co., Ltd., Class H	78,000						55,122
China Conch Venture Holdings, Ltd.	31,500						140,068
China Construction Bank Corp., Class H	1,202,000						910,558
China Everbright International, Ltd.	82,222						58,318
China Evergrande Group	40,000						88,387
China Galaxy Securities Co., Ltd., Class H	59,500						29,512
China Gas Holdings, Ltd.	23,600						93,230
China Life Insurance Co., Ltd., Class H	109,000						260,296
China Mengniu Dairy Co., Ltd.	47,000						172,374
China Merchants Port Holdings Co., Ltd.	24,160						37,164
China Mobile, Ltd.	90,000						739,769
China National Building Material Co., Ltd., Class H	88,000						84,123
China Overseas Land & Investment, Ltd.	60,000						192,866
China Pacific Insurance (Group) Co., Ltd., Class H	42,200						140,759
China Petroleum & Chemical Corp., Class H	382,000						201,169
China Resources Beer Holdings Co., Ltd.	26,000						120,295
China Resources Gas Group, Ltd.	20,000						105,411
China Resources Land, Ltd.	47,777						198,749
China Resources Power Holdings Co., Ltd.	34,000						45,645
China Shenhua Energy Co., Ltd., Class H	56,000						98,411
China State Construction International Holdings, Ltd.	42,000						33,383
China Taiping Insurance Holdings Co., Ltd.	31,400						65,227
China Telecom Corp., Ltd., Class H	234,000						91,046
China Tower Corp., Ltd., Class H(2)	716,000						148,004
China Unicom (Hong Kong), Ltd.	98,000						81,753
China Vanke Co., Ltd., Class H	26,700						94,127
CITIC Securities Co., Ltd., Class H	39,500						75,888
CITIC, Ltd.	75,000						84,809
CNOOC, Ltd.	261,000						390,727
Country Garden Holdings Co., Ltd.	129,000						163,135
Country Garden Services Holdings Co., Ltd.	14,827						47,901
CRRC Corp., Ltd., Class H	79,750						52,583
CSPC Pharmaceutical Group, Ltd.	84,000						184,251
ENN Energy Holdings, Ltd.	14,000						162,749
Geely Automobile Holdings, Ltd.	80,000						126,768
GF Securities Co., Ltd., Class H	24,600						26,869
Great Wall Motor Co., Ltd., Class H	53,500						35,351
Guangdong Investment, Ltd.	48,000						97,424
Guangzhou Automobile Group Co., Ltd., Class H	74,400						74,567
Haier Electronics Group Co., Ltd.	30,000						90,112
Hengan International Group Co., Ltd.	12,500						91,052
Huazhu Group, Ltd. ADR	2,800						96,600
Industrial & Commercial Bank of China, Ltd., Class H	922,000						611,999
JD.com, Inc. ADR(1)	10,624						400,419
Lenovo Group, Ltd.	160,000						104,400
Li Ning Co., Ltd.	37,000						108,054
Longfor Group Holdings, Ltd.(2)	33,000						139,265
Meituan Dianping, Class B(1)	16,900						213,951
Momo, Inc. ADR	3,100						94,860
NetEase, Inc. ADR	1,181						378,818
New China Life Insurance Co., Ltd., Class H	16,000						59,683
New Oriental Education & Technology Group, Inc. ADR(1)	2,174						264,250
People's Insurance Co. Group of China, Ltd. (The), Class H	129,000						46,156
PetroChina Co., Ltd., Class H	320,000						141,101
PICC Property & Casualty Co., Ltd., Class H	114,000						121,917
Pinduoduo, Inc. ADR(1)	3,600						126,792
Ping An Insurance (Group) Co. of China, Ltd., Class H	77,000						870,704
Semiconductor Manufacturing International Corp.(1)	67,500						123,251
Shenzhou International Group Holdings, Ltd.	12,000						158,638
Shimao Property Holdings, Ltd.	27,000						87,129
Sino Biopharmaceutical, Ltd.	135,000						178,278
Sinopharm Group Co., Ltd., Class H	22,400						72,888
Sunac China Holdings, Ltd.	32,000						154,338
Sunny Optical Technology Group Co., Ltd.	12,000						190,685
TAL Education Group ADR(1)	6,148						306,785
Tencent Holdings, Ltd.	77,000						3,672,143
Tencent Music Entertainment Group ADR(1)	13,500						171,315
Trip.com Group, Ltd. ADR(1)	6,700						215,271
Vipshop Holdings, Ltd. ADR(1)	9,598						122,183
Want Want China Holdings, Ltd.	103,000						85,021
Wuxi Biologics Cayman, Inc.(1)(2)	10,500						132,803
Xiaomi Corp., Class B(1)(2)	133,600						195,800
Yum China Holdings, Inc.	5,500						236,885
ZTO Express Cayman, Inc. ADR	5,800						125,976
________________________________________________________________________________________________________
						$	21,329,519
________________________________________________________________________________________________________
Cyprus — 1.4%
________________________________________________________________________________________________________
Bank of Cyprus Holdings PLC(1)(3)	1,534,390				$		2,201,700
Bank of Cyprus Holdings PLC(1)(3)	182,200						260,143
________________________________________________________________________________________________________
						$	2,461,843
________________________________________________________________________________________________________
Egypt — 6.9%
________________________________________________________________________________________________________
Alexandria Mineral Oils Co.	969,234				$		225,285
Cairo Investment & Real Estate Development Co. SAE	419,474						345,378
Cleopatra Hospital(1)	791,127						287,394
Commercial International Bank Egypt SAE	693,692						3,737,825
Credit Agricole Egypt SAE	543,827						1,513,872
Eastern Co. SAE	1,179,413						1,118,880
Egypt Kuwait Holding Co. SAE	593,443						753,899
Egyptian Financial Group-Hermes Holding Co.	509,827						517,822
ElSewedy Electric Co.	871,070						617,995
Heliopolis Housing	189,171						254,178
Ibnsina Pharma SAE	510,785						277,859
Juhayna Food Industries	670,728						405,273
Medinet Nasr Housing(1)	1,273,351						381,781
Oriental Weavers	400,915						264,257
Palm Hills Developments SAE(1)	2,181,969						230,333
Qalaa Holdings SAE(1)	2,061,001						308,510
Six of October Development & Investment Co.	393,650						315,303
Talaat Moustafa Group	1,228,109						628,126
Telecom Egypt	500,164						390,991
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						$	12,574,961
________________________________________________________________________________________________________
Georgia — 3.3%
________________________________________________________________________________________________________
Bank of Georgia Group PLC	119,660				$		2,389,650
Georgia Capital PLC(1)	54,100						574,508
TBC Bank Group PLC	185,286						3,032,495
________________________________________________________________________________________________________
						$	5,996,653
________________________________________________________________________________________________________
Greece — 3.0%
________________________________________________________________________________________________________
Aegean Airlines SA	7,900				$		73,230
Alpha Bank AE(1)	325,400						651,276
Athens Water Supply & Sewage Co. SA	10,600						87,260
Eurobank Ergasias SA(1)	626,500						574,828
GEK Terna Holding Real Estate Construction SA(1)	18,000						163,147
Hellenic Exchanges - Athens Stock Exchange SA	14,300						73,994
Hellenic Telecommunications Organization SA	60,200						899,063
Holding Co. ADMIE IPTO SA	27,100						69,241
JUMBO SA	25,700						522,691
LAMDA Development SA(1)	13,824						123,649
Motor Oil (Hellas) Corinth Refineries SA	14,800						314,262
Mytilineos SA	24,400						250,018
National Bank of Greece SA(1)	127,800						405,668
OPAP SA	55,800						694,825
Piraeus Bank SA(1)	66,900						237,580
Piraeus Port Authority SA	2,100						50,457
Public Power Corp. SA(1)	24,800						114,799
Sarantis SA	8,000						78,844
Terna Energy SA(1)	11,300						101,636
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						$	5,486,468
________________________________________________________________________________________________________
India — 5.4%
________________________________________________________________________________________________________
Adani Ports and Special Economic Zone, Ltd.	1,003				$		5,182
Asian Paints, Ltd.	6,000						150,885
Avenue Supermarts, Ltd.(1)(2)	3,000						89,561
Axis Bank, Ltd.	39,800						407,198
Bajaj Auto, Ltd.	1,900						84,491
Bajaj Finance, Ltd.	3,500						214,033
Bajaj Finserv, Ltd.	800						105,731
Bandhan Bank, Ltd.(2)	9,800						61,681
Bharat Petroleum Corp., Ltd.	14,700						94,199
Bharti Airtel, Ltd.(1)	41,877						291,363
Britannia Industries, Ltd.	1,500						66,904
Coal India, Ltd.	29,472						75,560
Dabur India, Ltd.	12,200						84,735
Dr. Reddy's Laboratories, Ltd.	2,500						109,247
Eicher Motors, Ltd.	300						84,807
GAIL (India), Ltd.	39,608						66,754
Godrej Consumer Products, Ltd.	8,400						79,062
Grasim Industries, Ltd.	7,000						76,163
Havells India, Ltd.	6,400						54,097
HCL Technologies, Ltd.	22,456						186,211
HDFC Life Insurance Co., Ltd.(2)	11,300						94,869
Hero MotoCorp, Ltd.	2,200						76,758
Hindalco Industries, Ltd.	27,400						72,306
Hindustan Petroleum Corp., Ltd.	15,400						50,236
Hindustan Unilever, Ltd.	12,400						353,552
Housing Development Finance Corp., Ltd.	30,590						1,034,848
ICICI Bank, Ltd.	92,800						683,982
ICICI Lombard General Insurance Co., Ltd.(2)	4,400						81,512
ICICI Prudential Life Insurance Co., Ltd.(2)	8,900						63,726
Indian Oil Corp., Ltd.	44,439						70,587
Infosys, Ltd.	65,314						714,867
ITC, Ltd.	68,950						227,024
JSW Steel, Ltd.	21,100						73,494
Larsen & Toubro, Ltd.	9,750						186,856
Lupin, Ltd.	5,700						57,216
Mahindra & Mahindra, Ltd.	15,900						126,486
Maruti Suzuki India, Ltd.	2,100						203,194
Nestle India, Ltd.	500						107,508
NTPC, Ltd.	55,000						86,997
Oil & Natural Gas Corp., Ltd.	55,700						85,881
Power Grid Corporation of India, Ltd.	40,100						105,139
Reliance Industries, Ltd.	53,400						1,052,053
SBI Life Insurance Co., Ltd.(2)	7,900						109,639
Shree Cement, Ltd.	200						64,405
Shriram Transport Finance Co., Ltd.	4,200						59,830
State Bank of India(1)	36,600						162,553
Sun Pharmaceutical Industries, Ltd.	18,000						109,750
Tata Consultancy Services, Ltd.	17,356						507,035
Tata Motors, Ltd.(1)	36,100						88,690
Tech Mahindra, Ltd.	10,308						115,482
Titan Co., Ltd.	6,800						112,808
UltraTech Cement, Ltd.	2,200		��				136,115
United Spirits, Ltd.(1)	7,400						64,342
UPL, Ltd.	12,550						92,383
Vedanta, Ltd.	42,400						81,087
Wipro, Ltd.	26,186						86,988
Zee Entertainment Enterprises, Ltd.	16,100						60,390
________________________________________________________________________________________________________
						$	9,848,452
________________________________________________________________________________________________________
Indonesia — 1.5%
________________________________________________________________________________________________________
Astra International Tbk PT	531,000				$		245,129
Bank Central Asia Tbk PT	244,700						578,231
Bank Mandiri Persero Tbk PT	489,700						267,766
Bank Negara Indonesia Persero Tbk PT	212,400						111,284
Bank Rakyat Indonesia Persero Tbk PT	1,370,100						445,426
Barito Pacific Tbk PT(1)	844,800						80,531
Charoen Pokphand Indonesia Tbk PT	211,100						102,319
Gudang Garam Tbk PT	16,300						66,414
Indocement Tunggal Prakarsa Tbk PT	55,900						66,989
Indofood CBP Sukses Makmur Tbk PT	77,000						63,896
Indofood Sukses Makmur Tbk PT	136,100						77,983
Kalbe Farma Tbk PT	670,700						69,964
Semen Indonesia Persero Tbk PT	88,500						77,099
Telekomunikasi Indonesia Persero Tbk PT	1,271,500						352,685
Unilever Indonesia Tbk PT	217,000						126,043
United Tractors Tbk PT	50,300						70,289
________________________________________________________________________________________________________
						$	2,802,048
________________________________________________________________________________________________________
Kuwait — 8.3%
________________________________________________________________________________________________________
Agility Public Warehousing Co. KSC	534,009				$		1,489,363
Boubyan Bank KSCP	432,271						918,848
Boubyan Petrochemicals Co. KSCP	217,300						483,222
Kuwait Finance House KSCP	1,606,641						4,421,329
Mabanee Co. SAK	280,729						841,708
Mobile Telecommunications Co.	1,182,083						2,239,516
National Bank of Kuwait SAK	1,359,260						4,687,247
________________________________________________________________________________________________________
						$	15,081,233
________________________________________________________________________________________________________
Mauritius — 1.0%
________________________________________________________________________________________________________
MCB Group, Ltd.	203,908				$		1,867,557
The Lux Collective, Ltd.(1)	66,516						4,515
________________________________________________________________________________________________________
						$	1,872,072
________________________________________________________________________________________________________
Pakistan — 5.7%
________________________________________________________________________________________________________
Bank Alfalah, Ltd.	1,147,000				$		367,603
Engro Corp., Ltd.	542,474						1,195,545
Engro Fertilizers, Ltd.	944,212						413,326
Fauji Fertilizer Co., Ltd.	900,563						611,978
Habib Bank, Ltd.	1,044,100						1,104,707
Hub Power Co., Ltd. (The)(1)	1,302,048						820,439
Indus Motor Co., Ltd.	34,230						236,659
Lucky Cement, Ltd.	232,700						714,080
MCB Bank, Ltd.	725,100						987,059
Millat Tractors, Ltd.	69,706						329,194
National Bank of Pakistan(1)	851,500						241,755
Nishat Mills, Ltd.	370,026						266,621
Oil & Gas Development Co., Ltd.	1,109,944						988,376
Pakistan Oilfields, Ltd.	180,038						492,720
Pakistan State Oil Co., Ltd.	480,999						647,018
United Bank, Ltd.	888,300						977,950
________________________________________________________________________________________________________
						$	10,395,030
________________________________________________________________________________________________________
Peru — 1.5%
________________________________________________________________________________________________________
Alicorp SAA	177,100				$		475,963
Cementos Pacasmayo SAA	160,708						291,420
Engie Energia Peru SA	95,400						219,764
Ferreycorp SAA	1,054,100						622,622
Grana y Montero SAA ADR(1)	103,800						228,360
InRetail Peru Corp.(2)	10,160						382,016
Union Andina de Cementos SAA	322,930						181,207
Volcan Cia Minera SAA, Class B(1)	2,601,649						370,347
________________________________________________________________________________________________________
						$	2,771,699
________________________________________________________________________________________________________
Philippines — 3.2%
________________________________________________________________________________________________________
Aboitiz Equity Ventures, Inc.	207,570				$		200,473
Aboitiz Power Corp.	153,200						97,591
Alliance Global Group, Inc.	420,900						89,281
Ayala Corp.	29,530						420,523
Ayala Land, Inc.	773,000						629,221
Bank of the Philippine Islands	96,780						156,919
BDO Unibank, Inc.	202,040						586,746
DMCI Holdings, Inc.	439,100						52,526
Globe Telecom, Inc.	3,525						131,140
GT Capital Holdings, Inc.	10,300						136,553
International Container Terminal Services, Inc.	104,190						265,625
JG Summit Holdings, Inc.	300,730						412,572
Jollibee Foods Corp.	47,130						176,840
Manila Electric Co.	23,420						117,982
Megaworld Corp.	1,227,600						97,537
Metro Pacific Investments Corp.	1,496,600						94,278
Metropolitan Bank & Trust Co.	187,159						210,790
PLDT, Inc.	9,200						178,980
Robinsons Land Corp.	222,900						111,491
Security Bank Corp.	24,380						84,571
SM Investments Corp.	25,790						490,501
SM Prime Holdings, Inc.	1,067,500						813,893
Universal Robina Corp.	91,550						260,867
________________________________________________________________________________________________________
						$	5,816,900
________________________________________________________________________________________________________
Serbia — 4.5%
________________________________________________________________________________________________________
Energoprojekt Holding AD Beograd(1)	74,772				$		462,172
Komercijalna Banka AD Beograd(1)	131,568						3,861,772
Metalac AD	67,357						1,280,853
NIS AD Novi Sad	371,854						2,627,928
________________________________________________________________________________________________________
						$	8,232,725
________________________________________________________________________________________________________
Singapore — 1.0%
________________________________________________________________________________________________________
Yoma Strategic Holdings, Ltd.(1)	8,240,033				$		1,889,308
________________________________________________________________________________________________________
						$	1,889,308
________________________________________________________________________________________________________
South Korea — 4.8%
________________________________________________________________________________________________________
AMOREPACIFIC Corp.	676				$		104,633
Celltrion Healthcare Co., Ltd.(1)	1,461						68,709
Celltrion, Inc.(1)	1,479						201,474
Daelim Industrial Co., Ltd.	724						48,648
E-MART, Inc.	588						54,201
Fila Korea, Ltd.	1,260						46,130
GS Holdings Corp.	1,397						53,249
Hankook Tire and Technology Co., Ltd.	2,138						51,019
Hanon Systems	5,387						47,205
Helixmith Co., Ltd.(1)	480						30,506
Hotel Shilla Co., Ltd.	820						59,229
Hyundai Engineering & Construction Co., Ltd.	1,784						56,322
Hyundai Glovis Co., Ltd.	486						59,612
Hyundai Heavy Industries Holdings Co., Ltd.	229						52,115
Hyundai Mobis Co., Ltd.	1,009						192,945
Hyundai Motor Co.	2,198						228,179
Hyundai Motor Co., Second PFC Shares	896						60,125
Hyundai Steel Co.	1,926						45,177
Kakao Corp.	907						119,560
Kangwon Land, Inc.	2,716						62,523
Kia Motors Corp.	4,231						143,908
Korea Aerospace Industries, Ltd.	1,816						45,406
Korea Electric Power Corp.	4,728						100,020
Korea Shipbuilding & Offshore Engineering Co., Ltd.(1)	807						76,043
Korea Zinc Co., Ltd.	193						61,226
KT&G Corp.	1,858						147,643
LG Chem, Ltd.	699						194,909
LG Corp.	1,725						101,372
LG Display Co., Ltd.	5,426						68,731
LG Electronics, Inc.	1,929						105,186
LG Household & Health Care, Ltd.	149						155,842
Lotte Chemical Corp.	367						57,565
Naver Corp.	2,012						300,047
NCsoft Corp.	278						147,270
Netmarble Corp.(1)(2)	707						52,427
Orion Corp. of Republic of Korea	670						57,227
POSCO	1,159						209,974
S-Oil Corp.	953						59,999
Samsung Biologics Co., Ltd.(1)(2)	328						131,830
Samsung C&T Corp.	1,499						134,896
Samsung Electro-Mechanics Co., Ltd.	1,078						110,524
Samsung Electronics Co., Ltd.	61,714						2,859,394
Samsung Electronics Co., Ltd., PFC Shares	11,495						449,348
Samsung Engineering Co., Ltd.(1)	4,208						59,867
Samsung Heavy Industries Co., Ltd.(1)	10,080						55,501
Samsung SDI Co., Ltd.	857						195,086
Samsung SDS Co., Ltd.	631						101,705
SK Holdings Co., Ltd.	631						123,355
SK Hynix, Inc.	7,362						560,148
SK Innovation Co., Ltd.	921						99,124
SK Telecom Co., Ltd.	411						78,733
Woongjin Coway Co., Ltd.	1,135						83,277
________________________________________________________________________________________________________
						$	8,769,144
________________________________________________________________________________________________________
Sri Lanka — 0.3%
________________________________________________________________________________________________________
Hatton National Bank PLC (Non-Voting)	62,900				$		46,268
Hayleys PLC	40,000						36,240
Melstacorp PLC	148,689						31,174
Softlogic Life Insurance PLC	2,200,000						442,011
________________________________________________________________________________________________________
						$	555,693
________________________________________________________________________________________________________
Taiwan — 7.6%
________________________________________________________________________________________________________
Advantech Co., Ltd.	8,699				$		82,973
ASE Technology Holding Co., Ltd.	91,358						220,448
Asia Cement Corp.	52,000						77,346
Asustek Computer, Inc.	16,000						117,837
Catcher Technology Co., Ltd.	17,000						134,625
Cathay Financial Holding Co., Ltd.	183,087						245,056
Chailease Holding Co., Ltd.	27,000						111,964
Chang Hwa Commercial Bank, Ltd.	130,000						92,082
Cheng Shin Rubber Industry Co., Ltd.	51,000						66,041
China Development Financial Holding Corp.	299,000						91,475
China Steel Corp.	287,000						218,688
Chunghwa Telecom Co., Ltd.	98,000						350,117
CTBC Financial Holding Co., Ltd.	367,000						266,180
Delta Electronics, Inc.	44,680						208,758
E.Sun Financial Holding Co., Ltd.	213,000						196,772
Eclat Textile Co., Ltd.	5,000						63,770
Far Eastern New Century Corp.	78,700						72,959
Far EasTone Telecommunications Co., Ltd.	40,000						90,604
First Financial Holding Co., Ltd.	209,000						162,650
Formosa Chemicals & Fibre Corp.	83,000						231,681
Formosa Petrochemical Corp.	29,000						85,755
Formosa Plastics Corp.	114,000						350,061
Fubon Financial Holding Co., Ltd.	156,000						231,343
Hon Hai Precision Industry Co., Ltd.	314,508						855,149
Hotai Motor Co., Ltd.	7,000						142,782
Hua Nan Financial Holdings Co., Ltd.	164,000						116,881
Largan Precision Co., Ltd.	3,000						465,983
Lite-On Technology Corp.	52,000						80,559
MediaTek, Inc.	38,000						480,790
Mega Financial Holding Co., Ltd.	215,000						223,384
Nan Ya Plastics Corp.	120,000						275,034
Nanya Technology Corp.	33,000						83,285
Novatek Microelectronics Corp., Ltd.	14,000						98,716
Pegatron Corp.	48,000						99,521
Pou Chen Corp.	55,000						63,525
President Chain Store Corp.	15,000						147,573
Quanta Computer, Inc.	66,000						134,003
Realtek Semiconductor Corp.	12,000						96,414
Shanghai Commercial & Savings Bank, Ltd. (The)	74,606						122,296
Shin Kong Financial Holding Co., Ltd.	263,914						85,355
SinoPac Financial Holdings Co., Ltd.	244,000						103,485
Taishin Financial Holding Co., Ltd.	220,000						102,534
Taiwan Cement Corp.	107,867						149,263
Taiwan Cooperative Financial Holding Co., Ltd.	185,000						126,821
Taiwan Mobile Co., Ltd.	41,000						145,070
Taiwan Semiconductor Manufacturing Co., Ltd.	514,000						5,301,500
Uni-President Enterprises Corp.	112,960						269,124
United Microelectronics Corp.	284,000						138,636
Win Semiconductors Corp.	9,000						81,588
Yuanta Financial Holding Co., Ltd.	216,675						140,314
________________________________________________________________________________________________________
						$	13,898,770
________________________________________________________________________________________________________
Thailand — 0.2%
________________________________________________________________________________________________________
Mega Lifesciences PCL(4)	436,400				$		378,142
________________________________________________________________________________________________________
						$	378,142
________________________________________________________________________________________________________
United Arab Emirates — 0.2%
________________________________________________________________________________________________________
Orascom Construction PLC	47,600				$		289,620
________________________________________________________________________________________________________
						$	289,620
________________________________________________________________________________________________________
Vietnam — 9.7%
________________________________________________________________________________________________________
Bao Viet Holdings	94,400				$		237,348
Binh Minh Plastics JSC	62,900						114,169
Domesco Medical Import Export JSC	47,440						154,695
FPT Corp.	134,549						322,366
HA TIEN 1 Cement JSC	80,620						50,901
Ho Chi Minh City Development Joint Stock Commercial Bank(1)	240,700						279,099
Ho Chi Minh City Infrastructure Investment JSC(1)	262,900						275,367
Ho Chi Minh City Securities Corp.	89,600						72,726
Hoa Phat Group JSC(1)	1,333,182						1,364,471
Hoa Sen Group(1)	9						3
Hoang Anh Gia Lai International Agriculture JSC(1)	204,900						119,087
Hoang Huy Investment Financial Services JSC	227,100						400,333
Imexpharm Pharmaceutical JSC	37,445						88,054
KIDO Group Corp.	106,100						85,839
Kinh Bac City Development Share Holding Corp.	400,900						248,443
Masan Group Corp.(1)	548,450						1,176,029
Mobile World Investment Corp.	53,333						272,271
Nam Long Investment Corp.	174,765						198,308
No Va Land Investment Group Corp.(1)	266,190						631,143
Pan Group JSC (The)(1)	88,671						84,952
PetroVietnam Ca Mau Fertilizer JSC	30,000						7,610
PetroVietnam Drilling & Well Services JSC(1)	401,235						225,256
PetroVietnam Fertilizer & Chemical JSC	149,250						74,307
PetroVietnam Gas JSC	84,800						312,111
PetroVietnam Power Corp.(1)	704,100						314,453
PetroVietnam Technical Services Corp.	384,543						267,017
Pha Lai Thermal Power JSC	82,000						89,970
Phat Dat Real Estate Development Corp.	241,613						270,242
Refrigeration Electrical Engineering Corp.	143,700						207,966
Saigon Beer Alcohol Beverage Corp.	60,300						549,306
SSI Securities Corp.	456,230						342,719
Thanh Thanh Cong - Bien Hoa JSC	355,048						282,756
Tien Phong Plastic JSC	11,160						14,479
Van Phu - Invest Investment JSC	140,000						253,079
Vicostone JSC	28,979						81,519
Viet Capital Securities JSC	282,825						324,791
Vietnam Dairy Products JSC	370,408						1,717,857
Vietnam Electrical Equipment JSC(1)	369,740						305,262
Vietnam National Petroleum Group	125,200						283,375
Vietnam Prosperity JSC Bank(1)	1,755,487						1,815,848
Vietnam Technological & Commercial Joint Stock Bank(1)	1,608,600						1,600,911
Viglacera Corp.	107,200						82,942
Vingroup JSC(1)	399,041						1,961,578
Vinh Hoan Corp.	139,000						207,912
________________________________________________________________________________________________________
						$	17,768,870
________________________________________________________________________________________________________
Total Common Stocks     (identified cost $147,185,415)				$			164,864,794
________________________________________________________________________________________________________

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited) - continued

Foreign Government Bonds — 2.6%
Security			Principal Amount (000's omitted)							Value
Ukraine  — 2.6%
Ukraine Government International Bond, 0.00%, GDP-Linked, 5/31/40(2)(5)(6)			$                            4,813					$		4,782,919
________________________________________________________________________________________________________
									$	4,782,919
________________________________________________________________________________________________________
Total Foreign Government Bonds     (identified cost $4,261,285)							$			4,782,919
________________________________________________________________________________________________________
Warrants — 0.0%
Security			Shares							Value
Thailand  — 0.0%
BTS Group Holdings PCL, Exp. 2/16/21, Strike THB 14(1)			13,540					$		0
________________________________________________________________________________________________________
									$	0
________________________________________________________________________________________________________
Total Warrants     (identified cost $0)							$			0
________________________________________________________________________________________________________
Short-Term Investments — 5.6%
U.S. Treasury Obligations — 0.8%
Security				Principal Amount (000's omitted)			Value
________________________________________________________________________________________________________
U.S. Treasury Bill, 0.00%, 2/6/20		$	1,500			$	1,499,818
________________________________________________________________________________________________________
Total U.S. Treasury Obligations (identified cost $1,499,694)						$	1,499,818
________________________________________________________________________________________________________
Other — 4.8%
Description			Units					Value
________________________________________________________________________________________________________
Eaton Vance Cash Reserves Fund, LLC, 1.74%(7)			8,625,102		$			8,625,964
________________________________________________________________________________________________________
Total Other (identified cost $8,624,935)						$	8,625,964
________________________________________________________________________________________________________
Total Short-Term Investments     (identified cost $10,124,629)							$			10,125,782
________________________________________________________________________________________________________
Total Investments — 98.5%     (identified cost $161,571,329)							$			179,773,495
________________________________________________________________________________________________________
Other Assets, Less Liabilities — 1.5%							$			2,709,196
________________________________________________________________________________________________________
Net Assets — 100.0%							$			182,482,691
________________________________________________________________________________________________________
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
(1)	Non-income producing security.
(2)	Security exempt from registration pursuant to Rule 144A under 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 January 31, 2020, the aggregate value of these securities is $6,504,089 or 3.6% of the Portfolio's net assets.
(3)	Securities are traded on separate exchanges for the same entity.
(4)	Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits.
(5)	Security exempt from registration under Regulation S of the Securities Act of 1933, 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. At January 31, 2020, the aggregate value of these securities is $4,782,919 or 2.6% of the Portfolio's net assets.
(6)	Amounts payable in respect of the security are contingent upon and determined by reference to Ukraine's GDP and Real GDP Growth Rate. Principal amount represents the notional amount used to calculate payments due to the security holder and does not represent an entitlement for payment.
(7)	Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments.

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited) - continued

Sector Classification of Portfolio
Sector		Percentage of Net Assets		Value
________________________________________________________________________________________________________
Financials	32.1		%	$	58,485,786
Information Technology	8.6				15,768,035
Consumer Discretionary	8.3				15,185,359
Communication Services	6.8				12,301,559
Consumer Staples	6.5				11,932,743
Real Estate	6.2				11,255,112
Industrials	6.1				11,133,551
Materials	5.9				10,839,853
Energy	5.9				10,769,280
Foreign Government Bonds	2.6				4,782,919
Utilities	2.3				4,248,559
Health Care	1.6				2,944,957
Short-Term Investments	5.6				10,125,782
Total Investments	98.5		%	$	179,773,495

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited) - continued

Centrally Cleared Forward Foreign Currency Exchange Contracts

Currency Purchased

Currency Sold

Settlement Date

Value/Unrealized  Appreciation  (Depreciation)

___________________________________________________________________________________________________________

KRW

4,940,101,125

USD

4,154,138

2/13/20

$

(13,441)

USD

4,268,644

KRW

4,940,101,125

2/13/20

127,946

___________________________________________________________________________________________________________

$

114,505

___________________________________________________________________________________________________________

Forward Foreign Currency Exchange Contracts

Currency Purchased

Currency Sold

Counterparty

Settlement Date

Unrealized Appreciation

Unrealized (Depreciation)

EUR

107,387

USD

118,492

Bank of America, N.A.

2/24/20

751

—

USD

7,816,643

EUR

6,961,942

Morgan Stanley & Co. International PLC

2/24/20

86,066

—

USD

5,197,438

EUR

4,629,131

Morgan Stanley & Co. International PLC

2/24/20

57,227

—

USD

3,034,266

EUR

2,702,488

Morgan Stanley & Co. International PLC

2/24/20

33,409

—

USD

53,592

EUR

47,732

Morgan Stanley & Co. International PLC

2/24/20

590

—

$

178,043

$

—

Futures Contracts

Description

Number of Contracts

Position

Expiration Date

Notional Amount

Value/Unrealized Appreciation (Depreciation)

___________________________________________________________________________________________________________

Equity Futures

MSCI Emerging Markets Index

103

Long

3/20/20

$

5,408,015

$

(294,337)

___________________________________________________________________________________________________________

$

(294,337)

___________________________________________________________________________________________________________

Abbreviations:

ADR

-

American Depositary Receipt

GDP

-

Gross Domestic Product

PCL

-

Public Company Ltd.

PFC Shares

-

Preference Shares

Currency Abbreviations:

EUR

-

Euro

KRW

-

South Korean Won

USD

-

United States Dollar

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited) - continued

At January 31, 2020, the Portfolio had sufficient cash and/or securities to cover commitments under open derivative contracts.

In the normal course of pursuing its investment objective, the Portfolio is subject to the following risks:

Equity Price Risk: The Portfolio enters into equity futures contracts to enhance total return, to manage certain investment risks and/ or as a substitute for the purchase or sale of securities.

Foreign Exchange Risk: The Portfolio engages in forward foreign currency exchange contracts to enhance total return, to seek to hedge against fluctuations in currency exchange rates and/or as a substitute for the purchase or sale of securities or currencies.

At January 31, 2020, the value of the Portfolio’s investment in affiliated funds was $8,625,964, which represents 4.8% of the Portfolio’s net assets. Transactions in affiliated funds by the Portfolio for the fiscal year to date ended January 31, 2020 were as follows:

Name of affiliated fund	Value, beginning of period			Purchases			Sales proceeds			Net realized gain (loss)			Change in unrealized appreciation (depreciation)				Value, end of period			Dividend income		Units, end of period
Short-Term Investments
Eaton Vance Cash Reserves Fund, LLC		$	5,701,355		$	20,549,399		$	(17,625,949)		$	648		$	511	$		8,625,964	$		26,738		8,625,102

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)

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 January 31, 2020, the hierarchy of inputs used in valuing the Portfolio's investments and open derivative instruments, which are carried at value, were as follows:

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited) - continued

Asset Description				Level 1			Level 2			Level 3			Total
________________________________________________________________________________________________________
Common Stocks
	Asia/Pacific		$	7,289,697	$	86,162,179		$	—		$	93,451,876
	Developed Europe			—		199,664			—			199,664
	Emerging Europe			—		22,177,689			—			22,177,689
	Latin America			19,194,528		23,151			—			19,217,679
	Middle East/Africa			—		29,817,886			—			29,817,886
________________________________________________________________________________________________________
Total Common Stocks			$	26,484,225	$	138,380,569*		$	—		$	164,864,794
________________________________________________________________________________________________________
Foreign Government Bonds			$	—	$	4,782,919		$	—		$	4,782,919
Warrants				—		0			—			0
Short-Term Investments		—
	U.S. Treasury Obligations			—		1,499,818			—			1,499,818
	Other			—		8,625,964			—			8,625,964
________________________________________________________________________________________________________
Total Investments			$	26,484,225	$	153,289,270		$	—		$	179,773,495
________________________________________________________________________________________________________
Forward Foreign Currency Exchange Contracts			$	—	$	305,989		$	—		$	305,989
________________________________________________________________________________________________________
Total			$	26,484,225	$	153,595,259		$	—		$	180,079,484
________________________________________________________________________________________________________
Liability Description
________________________________________________________________________________________________________
Forward Foreign Currency Exchange Contracts			$	—	$	(13,441)		$	—		$	(13,441)
Futures Contracts				(294,337)		—			—			(294,337)
________________________________________________________________________________________________________
Total			$	(294,337)	$	(13,441)		$	—		$	(307,778)
________________________________________________________________________________________________________
*	Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

Global Macro Capital Opportunities Portfolio

January 31, 2020

Portfolio of Investments (Unaudited) - continued

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the fiscal year to date ended January 31, 2020 is not presented.

For information on the Portfolio's policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio's most recent financial statements included in its semiannual or annual report to shareholders.