Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited)
| Affiliated Investment Funds — 0.8% |
| Security | Shares | Value | |
| Eaton Vance Emerging Markets Local Income Fund, Class I | 2,914,736 | $ 10,289,017 | |
| Total Affiliated Investment Funds (identified cost $10,086,705) | $ 10,289,017 |
| Asset-Backed Securities — 15.3% |
| Security | Principal Amount (000's omitted) | Value | |
| Aaset Trust, Series 2019-2, Class B, 4.458%, 10/16/39(1) | $ | 3,084 | $ 1,453,182 |
| ACHV ABS Trust: | |||
| Series 2023-1PL, Class B, 6.80%, 3/18/30(1) | 2,536 | 2,539,238 | |
| Series 2023-2PL, Class A, 6.42%, 5/20/30(1) | 23 | 23,308 | |
| Series 2023-3PL, Class B, 7.17%, 8/19/30(1) | 2,750 | 2,752,145 | |
| Series 2023-4CP, Class B, 7.24%, 11/25/30(1) | 1,200 | 1,211,810 | |
| AMSR Trust, Series 2021-SFR2, Class F1, 3.275%, 8/17/38(1) | 500 | 447,735 | |
| Avant Credit Card Master Trust, Series 2021-1A, Class A, 1.37%, 4/15/27(1) | 1,450 | 1,392,114 | |
| Avant Loans Funding Trust, Series 2021-REV1, Class D, 4.30%, 7/15/30(1) | 5,213 | 4,812,079 | |
| Benefit Street Partners CLO XXV, Ltd., Series 2021-25A, Class B, 7.356%, (3 mo. SOFR + 1.962%), 1/15/35(1)(2) | 3,000 | 2,996,751 | |
| Castlelake Aircraft Structured Trust, Series 2019-1A, Class A, 3.967%, 4/15/39(1) | 8,047 | 7,023,090 | |
| Coinstar Funding, LLC, Series 2017-1A, Class A2, 5.216%, 4/25/47(1) | 3,185 | 2,787,046 | |
| Cologix Canadian Issuer L.P., Series 2022-1CAN, Class C, 7.74%, 1/25/52(1)(3) | 2,800 | 1,954,728 | |
| Cologix Data Centers US Issuer, LLC: | |||
| Series 2021-1A, Class B, 3.79%, 12/26/51(1) | 4,300 | 3,822,416 | |
| Series 2021-1A, Class C, 5.99%, 12/26/51(1) | 2,900 | 2,420,445 | |
| Conn's Receivables Funding, LLC: | |||
| Series 2021-A, Class C, 4.59%, 5/15/26(1) | 2,563 | 2,550,502 | |
| Series 2022-A, Class B, 9.52%, 12/15/26(1) | 952 | 956,131 | |
| Series 2022-A, Class C, 0.00%, 12/15/26(1) | 3,700 | 3,274,548 | |
| Series 2023-A, Class B, 10.00%, 1/17/28(1) | 3,167 | 3,210,337 | |
| Diamond Infrastructure Funding, LLC, Series 2021-1A, Class C, 3.475%, 4/15/49(1) | 992 | 860,519 | |
| Diamond Issuer, Series 2021-1A, Class B, 2.701%, 11/20/51(1) | 1,000 | 850,492 | |
| Driven Brands Funding, LLC: | |||
| Series 2018-1A, Class A2, 4.739%, 4/20/48(1) | 2,561 | 2,511,680 | |
| Series 2019-1A, Class A2, 4.641%, 4/20/49(1) | 1,917 | 1,858,488 | |
| Series 2019-2A, Class A2, 3.981%, 10/20/49(1) | 4,118 | 3,891,143 | |
| Security | Principal Amount (000's omitted) | Value | |
| Dryden 77 CLO, Ltd., Series 2020-77A, Class BR, 7.279%, (3 mo. SOFR + 1.912%), 5/20/34(1)(2) | $ | 1,200 | $ 1,192,912 |
| ExteNet, LLC: | |||
| Series 2019-1A, Class A2, 3.204%, 7/25/49(1) | 2,475 | 2,418,935 | |
| Series 2019-1A, Class B, 4.14%, 7/25/49(1) | 3,502 | 3,418,182 | |
| Series 2019-1A, Class C, 5.219%, 7/25/49(1) | 3,040 | 2,959,739 | |
| Falcon Aerospace, Ltd.: | |||
| Series 2019-1, Class A, 3.597%, 9/15/39(1) | 1,603 | 1,471,297 | |
| Series 2019-1, Class B, 4.791%, 9/15/39(1) | 4,067 | 3,115,247 | |
| Series 2019-1, Class C, 6.656%, 9/15/39(1) | 3,226 | 988,758 | |
| FirstKey Homes Trust: | |||
| Series 2021-SFR1, Class F2, 3.452%, 8/17/38(1) | 3,093 | 2,720,538 | |
| Series 2021-SFR1, Class F3, 3.686%, 8/17/38(1) | 3,615 | 3,143,667 | |
| Series 2021-SFR1, Class G, 3.835%, 8/17/38(1) | 4,949 | 4,246,287 | |
| FMC GMSR Issuer Trust: | |||
| Series 2021-GT1, Class A, 3.62%, 7/25/26(1)(4) | 2,285 | 1,975,617 | |
| Series 2021-GT2, Class A, 3.85%, 10/25/26(1)(4) | 1,690 | 1,466,228 | |
| Series 2022-GT2, Class A, 7.90%, 7/25/27(1) | 2,197 | 2,225,876 | |
| FOCUS Brands Funding, LLC: | |||
| Series 2017-1A, Class A2II, 5.093%, 4/30/47(1) | 2,338 | 2,241,297 | |
| Series 2022-1, Class A2, 7.206%, 7/30/52(1) | 1,975 | 1,990,473 | |
| FREED ABS Trust, Series 2022-4FP, Class B, 7.58%, 12/18/29(1) | 676 | 678,508 | |
| GAIA Aviation, Ltd., Series 2019-1, Class A, 3.967%, 12/15/44(1)(5) | 659 | 599,048 | |
| Hertz Vehicle Financing, LLC, Series 2021-1A, Class D, 3.98%, 12/26/25(1) | 5,000 | 4,794,291 | |
| Horizon Aircraft Finance II, Ltd., Series 2019-1, Class A, 3.721%, 7/15/39(1) | 1,606 | 1,432,899 | |
| JPMorgan Chase Bank NA: | |||
| Series 2021-3, Class D, 1.009%, 2/26/29(1) | 318 | 307,111 | |
| Series 2021-3, Class E, 2.102%, 2/26/29(1) | 187 | 181,302 | |
| Loanpal Solar Loan, Ltd.: | |||
| Series 2020-2GF, Class C, 3.50%, 7/20/47(1) | 5,097 | 3,132,360 | |
| Series 2020-3GS, Class C, 3.50%, 12/20/47(1) | 4,237 | 2,575,840 | |
| Series 2021-1GS, Class C, 3.50%, 1/20/48(1) | 1,589 | 999,105 | |
| Lunar Aircraft, Ltd.: | |||
| Series 2020-1A, Class B, 4.335%, 2/15/45(1) | 521 | 381,758 | |
| Series 2020-1A, Class C, 6.413%, 2/15/45(1) | 319 | 73,285 | |
| Lunar Structured Aircraft Portfolio Notes, Series 2021-1, Class A, 2.636%, 10/15/46(1) | 6,077 | 5,252,064 | |
| Mosaic Solar Loan Trust, Series 2019-2A, Class B, 3.28%, 9/20/40(1) | 1,537 | 1,369,991 | |
| MVW, LLC, Series 2020-1A, Class A, 1.74%, 10/20/37(1) | 170 | 159,222 | |
| Neighborly Issuer, LLC: | |||
| Series 2021-1A, Class A2, 3.584%, 4/30/51(1) | 2,442 | 2,128,813 | |
| Series 2023-1A, Class A2, 7.308%, 1/30/53(1) | 4,104 | 4,115,524 | |
1
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| NRZ Excess Spread-Collateralized Notes: | |||
| Series 2021-FHT1, Class A, 3.104%, 7/25/26(1) | $ | 243 | $ 226,375 |
| Series 2021-GNT1, Class A, 3.474%, 11/25/26(1) | 1,679 | 1,558,681 | |
| Octane Receivables Trust, Series 2022-1, Class A2, 4.18%, 3/20/28(1) | 984 | 973,138 | |
| Oportun Issuance Trust: | |||
| Series 2021-B, Class A, 1.47%, 5/8/31(1) | 6,725 | 6,284,895 | |
| Series 2021-B, Class C, 3.65%, 5/8/31(1) | 496 | 462,530 | |
| Pagaya AI Debt Selection Trust: | |||
| Series 2021-2, 3.00%, 1/25/29(1) | 453 | 441,500 | |
| Series 2021-3, Class C, 3.27%, 5/15/29(1) | 2,900 | 2,442,353 | |
| Series 2021-5, Class C, 3.93%, 8/15/29(1) | 4,319 | 3,840,187 | |
| Pagaya AI Technology in Housing Trust, Series 2023-1, Class F, 3.60%, 10/25/40(1) | 1,323 | 885,920 | |
| Planet Fitness Master Issuer, LLC, Series 2019-1A, Class A2, 3.858%, 12/5/49(1) | 2,342 | 2,069,488 | |
| PMT Issuer Trust, 11.06%, 12/24/24 | 453 | 452,586 | |
| PMT Issuer Trust - FMSR: | |||
| Series 2021-FT1, Class A, 8.471%, (1 mo. SOFR + 3.115%), 3/25/26(1)(2) | 390 | 385,737 | |
| Series 2022-FT1, Class A, 9.527%, (30-day average SOFR + 4.19%), 6/25/27(1)(2) | 5,455 | 5,479,063 | |
| Progress Residential Trust, Series 2019-SFR4, Class F, 3.684%, 10/17/36(1) | 900 | 873,932 | |
| Prosper Marketplace Issuance Trust, Series 2023-1A, Class A, 7.06%, 7/16/29(1) | 2,569 | 2,580,961 | |
| Raptor Aircraft Finance I, LLC, Series 2019-1, Class A, 4.213%, 8/23/44(1) | 1,288 | 1,037,929 | |
| Retained Vantage Data Centers Issuer, LLC: | |||
| Series 2023-1A, Class A2B, 5.25%, 9/15/48(1) | 4,877 | 3,444,817 | |
| Series 2023-1A, Class B, 5.75%, 9/15/48(1) | 4,890 | 4,540,160 | |
| ServiceMaster Funding, LLC: | |||
| Series 2020-1, Class A2I, 2.841%, 1/30/51(1) | 635 | 556,904 | |
| Series 2020-1, Class A2II, 3.337%, 1/30/51(1) | 743 | 609,251 | |
| SERVPRO Master Issuer, LLC, Series 2019-1A, Class A2, 3.882%, 10/25/49(1) | 4,685 | 4,419,149 | |
| Sonic Capital, LLC, Series 2020-1A, Class A2I, 3.845%, 1/20/50(1) | 3,784 | 3,579,774 | |
| Stack Infrastructure Issuer, LLC: | |||
| Series 2019-2A, Class A2, 3.08%, 10/25/44(1) | 1,135 | 1,102,216 | |
| Series 2020-1A, Class A2, 1.893%, 8/25/45(1) | 1,096 | 1,015,506 | |
| STAR Trust: | |||
| Series 2021-SFR1, Class G, 8.677%, (1 mo. SOFR + 3.314%), 4/17/38(1)(2) | 2,494 | 2,358,023 | |
| Series 2021-SFR1, Class H, 9.927%, (1 mo. SOFR + 4.564%), 4/17/38(1)(2) | 1,600 | 1,448,958 | |
| Sunnova Helios II Issuer, LLC: | |||
| Series 2019-AA, Class C, 5.32%, 6/20/46(1) | 971 | 762,195 | |
| Series 2021-A, Class B, 3.15%, 2/20/48(1) | 2,810 | 2,272,772 | |
| Security | Principal Amount (000's omitted) | Value | |
| Sunnova Helios II Issuer, LLC: (continued) | |||
| Series 2021-B, Class B, 2.01%, 7/20/48(1) | $ | 2,274 | $ 1,901,286 |
| Sunnova Helios IV Issuer, LLC, Series 2020-AA, Class B, 7.25%, 6/20/47(1) | 1,767 | 1,481,998 | |
| Sunnova Helios X Issuer, LLC, Series 2022-C, Class B, 5.60%, 11/22/49(1) | 3,654 | 3,510,210 | |
| Sunnova Sol Issuer, LLC, Series 2020-1A, Class B, 5.54%, 2/1/55(1) | 8,258 | 7,098,649 | |
| Theorem Funding Trust, Series 2021-1A, Class B, 1.84%, 12/15/27(1) | 1,271 | 1,261,560 | |
| Vantage Data Centers Issuer, LLC: | |||
| Series 2020-2A, Class A2, 1.992%, 9/15/45(1) | 3,088 | 2,689,299 | |
| Series 2021-1A, Class A2, 2.165%, 10/15/46(1) | 3,858 | 3,481,999 | |
| VINE Trust, Series 2023-SFR1, Class E1, 4.75%, 12/17/40(1) | 5,000 | 4,192,112 | |
| Willis Engine Structured Trust V: | |||
| Series 2020-A, Class B, 4.212%, 3/15/45(1) | 1,444 | 1,243,346 | |
| Series 2020-A, Class C, 6.657%, 3/15/45(1) | 474 | 376,749 | |
| Willis Engine Structured Trust VII, Series 2023-A, Class A, 8.00%, 10/15/48(1) | 2,143 | 2,136,915 | |
| Total Asset-Backed Securities (identified cost $215,860,625) | $ 204,835,224 | ||
| Collateralized Mortgage Obligations — 5.3% |
| Security | Principal Amount (000's omitted) | Value | |
| Cascade Funding Mortgage Trust, Series 2022-HB10, Class M2, 3.25%, 11/25/35(1)(4) | $ | 2,000 | $ 1,817,276 |
| Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% to 7/25/27, 8/25/54(1)(5) | 2,018 | 1,834,383 | |
| CFMT, LLC, Series 2023-HB11, Class M2, 4.00%, 2/25/37(1)(4) | 2,500 | 2,204,827 | |
| Eagle Re, Ltd., Series 2021-2, Class M1B, 7.387%, (30-day average SOFR + 2.05%), 4/25/34(1)(2) | 1,467 | 1,470,964 | |
| Federal Home Loan Mortgage Corp., Series 5324, Class MZ, 6.00%, 7/25/53 | 237 | 252,174 | |
| Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes: | |||
| Series 2019-DNA4, Class M2, 7.402%, (30-day average SOFR + 2.064%), 10/25/49(1)(2) | 15 | 15,301 | |
| Series 2019-HQA3, Class B1, 8.452%, (30-day average SOFR + 3.114%), 9/25/49(1)(2) | 1,395 | 1,461,992 | |
| Series 2019-HQA4, Class B1, 8.402%, (30-day average SOFR + 3.064%), 11/25/49(1)(2) | 902 | 930,815 | |
| Series 2020-HQA2, Class B1, 9.552%, (30-day average SOFR + 4.214%), 3/25/50(1)(2) | 1,878 | 2,051,829 | |
| Series 2021-DNA2, Class B1, 8.737%, (30-day average SOFR + 3.40%), 8/25/33(1)(2) | 2,165 | 2,268,935 | |
2
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| Federal National Mortgage Association Connecticut Avenue Securities: | |||
| Series 2019-R01, Class 2B1, 9.802%, (30-day average SOFR + 4.464%), 7/25/31(1)(2) | $ | 1,390 | $ 1,492,614 |
| Series 2019-R02, Class 1B1, 9.602%, (30-day average SOFR + 4.264%), 8/25/31(1)(2) | 527 | 559,063 | |
| Series 2019-R03, Class 1B1, 9.552%, (30-day average SOFR + 4.214%), 9/25/31(1)(2) | 1,085 | 1,152,570 | |
| Series 2019-R06, Class 2B1, 9.202%, (30-day average SOFR + 3.864%), 9/25/39(1)(2) | 8,005 | 8,272,504 | |
| Series 2019-R07, Class 1B1, 8.852%, (30-day average SOFR + 3.514%), 10/25/39(1)(2) | 3,081 | 3,171,278 | |
| Series 2020-R02, Class 2B1, 8.452%, (30-day average SOFR + 3.114%), 1/25/40(1)(2) | 1,612 | 1,633,977 | |
| Series 2021-R01, Class 1B2, 11.337%, (30-day average SOFR + 6.00%), 10/25/41(1)(2) | 1,995 | 2,058,057 | |
| Series 2021-R02, Class 2B1, 8.637%, (30-day average SOFR + 3.30%), 11/25/41(1)(2) | 584 | 591,893 | |
| Finance of America HECM Buyout, Series 2022-HB2, Class M5, 6.00%, 8/1/32(1)(4) | 1,000 | 657,191 | |
| Government National Mortgage Association: | |||
| Series 2023-84, Class DL, 6.00%, 6/20/53 | 1,002 | 1,052,255 | |
| Series 2023-84, Class MW, 6.00%, 6/20/53 | 1,051 | 1,105,203 | |
| Series 2023-98, Class BW, 6.00%, 7/20/53 | 1,190 | 1,251,197 | |
| Series 2023-99, Class AL, 6.00%, 7/20/53 | 1,190 | 1,251,354 | |
| Series 2023-102, Class SG, 2.654%, (22.546% - 30-day average SOFR x 3.727), 7/20/53(6) | 1,778 | 1,780,274 | |
| Series 2023-116, Class CY, 6.00%, 8/20/53 | 2,770 | 2,910,319 | |
| Series 2023-133, Class S, 5.587%, (21.60% - 30-day average SOFR x 3.00), 9/20/53(6) | 3,820 | 4,014,168 | |
| Series 2023-164, Class EL, 6.00%, 11/20/53 | 1,580 | 1,670,681 | |
| Series 2023-173, Class AX, 6.00%, 11/20/53 | 2,750 | 2,902,988 | |
| Series 2023-182, Class EL, 6.00%, 12/20/53 | 3,000 | 3,124,315 | |
| Home RE, Ltd., Series 2021-2, Class B1, 9.487%, (30-day average SOFR + 4.15%), 1/25/34(1)(2) | 3,670 | 3,688,305 | |
| JP Morgan Mortgage Trust, Series 2023-HE2, Class A1, 7.038%, (30-day average SOFR + 1.70%), 3/25/54(1)(2) | 3,984 | 4,008,804 | |
| LHOME Mortgage Trust: | |||
| Series 2023-RTL2, Class A1, 8.00% to 1/25/26, 6/25/28(1)(5) | 1,550 | 1,565,728 | |
| Series 2023-RTL3, Class A1, 8.00% to 3/25/26, 8/25/28(1)(5) | 1,624 | 1,641,324 | |
| Series 2023-RTL4, Class A1, 7.628% to 8/25/25, 11/25/28(1)(5) | 1,585 | 1,590,928 | |
| MFRA Trust, Series 2023-NQM1, Class A2, 5.75% to 1/25/26, 11/25/67(1)(5) | 1,436 | 1,428,479 | |
| Oaktown Re VI, Ltd., Series 2021-1A, Class M1B, 7.387%, (30-day average SOFR + 2.05%), 10/25/33(1)(2) | 538 | 539,141 | |
| Security | Principal Amount (000's omitted) | Value | |
| PNMAC GMSR Issuer Trust, Series 2018-GT2, Class A, 8.871% (1 mo. SOFR + 3.515%), 8/25/25(1)(2) | $ | 291 | $ 291,079 |
| RMF Buyout Issuance Trust, Series 2020-HB1, Class M5, 6.00%, 10/25/50(1) | 1,204 | 782,509 | |
| Total Collateralized Mortgage Obligations (identified cost $68,626,175) | $ 70,496,694 | ||
| Commercial Mortgage-Backed Securities — 7.8% |
| Security | Principal Amount (000's omitted) | Value | |
| BAMLL Commercial Mortgage Securities Trust: | |||
| Series 2019-BPR, Class ENM, 3.719%, 11/5/32(1)(4) | $ | 7,255 | $ 2,577,043 |
| Series 2019-BPR, Class FNM, 3.719%, 11/5/32(1)(4) | 7,215 | 1,782,964 | |
| BBCMS Mortgage Trust, Series 2017-C1, Class D, 3.54%, 2/15/50(1)(4) | 3,500 | 2,366,820 | |
| BX Commercial Mortgage Trust: | |||
| Series 2021-VOLT, Class C, 6.576%, (1 mo. SOFR + 1.214%), 9/15/36(1)(2) | 6,379 | 6,156,651 | |
| Series 2021-VOLT, Class D, 7.126%, (1 mo. SOFR + 1.764%), 9/15/36(1)(2) | 474 | 456,749 | |
| CFCRE Commercial Mortgage Trust: | |||
| Series 2016-C3, Class D, 3.052%, 1/10/48(1)(4) | 1,500 | 1,163,323 | |
| Series 2016-C7, Class D, 4.368%, 12/10/54(1)(4) | 1,725 | 1,200,749 | |
| COMM Mortgage Trust: | |||
| Series 2013-CR11, Class D, 4.463%, 8/10/50(1)(4) | 3,108 | 2,784,779 | |
| Series 2013-CR13, Class C, 4.991%, 11/10/46(4) | 1,000 | 916,716 | |
| Series 2015-CR22, Class D, 4.067%, 3/10/48(1)(4) | 2,324 | 1,840,574 | |
| CSMC Trust: | |||
| Series 2016-NXSR, Class D, 4.426%, 12/15/49(1)(4) | 2,000 | 1,264,832 | |
| Series 2021-BPNY, Class A, 9.191%, (1 mo. SOFR + 3.829%), 8/15/26(1)(2) | 3,917 | 3,477,612 | |
| Series 2021-WEHO, Class A, 9.446%, (1 mo. SOFR + 4.083%), 4/15/26(1)(2) | 396 | 389,202 | |
| Series 2022-CNTR, Class A, 9.306%, (1 mo. SOFR + 3.944%), 1/15/24(1)(2) | 3,745 | 3,311,803 | |
| Series 2022-NWPT, Class A, 8.505%, (1 mo. SOFR + 3.143%), 9/9/24(1)(2) | 3,163 | 3,194,641 | |
| Extended Stay America Trust: | |||
| Series 2021-ESH, Class C, 7.177%, (1 mo. SOFR + 1.814%), 7/15/38(1)(2) | 2,965 | 2,920,385 | |
| Series 2021-ESH, Class D, 7.727%, (1 mo. SOFR + 2.364%), 7/15/38(1)(2) | 1,811 | 1,782,143 | |
| Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust: | |||
| Series 2019-01, Class M10, 8.702%, (30-day average SOFR + 3.364%), 10/15/49(1)(2) | 2,810 | 2,743,165 | |
3
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust: (continued) | |||
| Series 2020-01, Class M10, 9.202%, (30-day average SOFR + 3.864%), 3/25/50(1)(2) | $ | 7,225 | $ 7,003,411 |
| FS Commercial Mortgage Trust, Series 2023-4SZN, Class A, 7.066%, 11/10/39(1) | 2,143 | 2,235,292 | |
| JPMBB Commercial Mortgage Securities Trust: | |||
| Series 2014-C22, Class D, 4.559%, 9/15/47(1)(4) | 1,980 | 1,301,682 | |
| Series 2014-C25, Class D, 3.932%, 11/15/47(1)(4) | 3,575 | 1,545,461 | |
| Series 2015-C29, Class D, 3.686%, 5/15/48(4) | 500 | 342,323 | |
| JPMorgan Chase Commercial Mortgage Securities Trust: | |||
| Series 2013-C16, Class D, 4.854%, 12/15/46(1)(4) | 1,500 | 1,184,042 | |
| Series 2014-DSTY, Class B, 3.771%, 6/10/27(1) | 1,384 | 194,851 | |
| Med Trust: | |||
| Series 2021-MDLN, Class E, 8.627%, (1 mo. SOFR + 3.264%), 11/15/38(1)(2) | 4,150 | 4,033,385 | |
| Series 2021-MDLN, Class F, 9.477%, (1 mo. SOFR + 4.114%), 11/15/38(1)(2) | 3,200 | 3,077,424 | |
| Morgan Stanley Bank of America Merrill Lynch Trust: | |||
| Series 2016-C29, Class C, 4.72%, 5/15/49(4)(7) | 4,199 | 3,733,228 | |
| Series 2016-C29, Class D, 3.00%, 5/15/49(1)(7) | 3,048 | 2,291,998 | |
| Series 2016-C32, Class D, 3.396%, 12/15/49(1)(4)(7) | 5,000 | 2,876,336 | |
| Morgan Stanley Capital I Trust: | |||
| Series 2019-BPR, Class B, 8.035%, (1 mo. SOFR + 2.692%), 5/15/36(1)(2)(7) | 3,960 | 3,843,584 | |
| Series 2019-BPR, Class C, 8.985%, (1 mo. SOFR + 3.642%), 5/15/36(1)(2)(7) | 2,219 | 2,131,296 | |
| Natixis Commercial Mortgage Securities Trust, Series 2018-FL1, Class C, 8.50%, (USD Prime), 6/15/35(1)(2) | 3,219 | 1,343,265 | |
| ORL Trust, Series 2023-GLKS, Class A, 7.712%, (1 mo. SOFR + 2.35%), 10/19/36(1)(2) | 2,011 | 2,017,912 | |
| Taubman Centers Commercial Mortgage Trust, Series 2022-DPM, Class A, 7.548%, (1 mo. SOFR + 2.186%), 5/15/37(1)(2) | 2,000 | 1,987,506 | |
| UBS-Barclays Commercial Mortgage Trust, Series 2013-C6, Class D, 3.97%, 4/10/46(1)(4) | 1,714 | 1,420,735 | |
| VMC Finance, LLC, Series 2021-HT1, Class B, 9.973%, (1 mo. SOFR + 4.614%), 1/18/37(1)(2) | 8,477 | 8,217,030 | |
| Wells Fargo Commercial Mortgage Trust: | |||
| Series 2015-C31, Class D, 3.852%, 11/15/48 | 5,598 | 3,792,221 | |
| Series 2015-NXS1, Class C, 3.848%, 5/15/48(4) | 1,000 | 905,304 | |
| Series 2016-C35, Class D, 3.142%, 7/15/48(1) | 2,150 | 1,550,887 | |
| Series 2016-C36, Class D, 2.942%, 11/15/59(1) | 6,000 | 3,580,519 | |
| WF-RBS Commercial Mortgage Trust, Series 2014-C24, Class D, 3.692%, 11/15/47(1) | 4,150 | 2,688,998 | |
| Total Commercial Mortgage-Backed Securities (identified cost $124,256,473) | $ 103,628,841 | ||
| Convertible Bonds — 0.2% |
| Security | Principal Amount (000's omitted) | Value | |
| Biotechnology — 0.0%(8) | |||
| BioMarin Pharmaceutical, Inc., 0.599%, 8/1/24 | $ | 175 | $ 172,918 |
| $ 172,918 | |||
| Commercial Services — 0.0%(8) | |||
| Block, Inc., 0.125%, 3/1/25 | $ | 170 | $ 166,923 |
| $ 166,923 | |||
| Computers — 0.0%(8) | |||
| Rapid7, Inc., 0.25%, 3/15/27 | $ | 175 | $ 158,047 |
| $ 158,047 | |||
| Diversified Financial Services — 0.1% | |||
| Ares Capital Corp., 4.625%, 3/1/24 | $ | 250 | $ 258,594 |
| Ford Motor Co., 0.00%, 3/15/26 | 200 | 200,000 | |
| $ 458,594 | |||
| Electric Utilities — 0.0%(8) | |||
| NRG Energy, Inc., 2.75%, 6/1/48 | $ | 200 | $ 258,000 |
| $ 258,000 | |||
| Leisure Time — 0.0%(8) | |||
| NCL Corp., Ltd., 1.125%, 2/15/27 | $ | 200 | $ 183,620 |
| $ 183,620 | |||
| Oil and Gas — 0.0%(8) | |||
| NextEra Energy Partners, L.P., 2.50%, 6/15/26(1) | $ | 200 | $ 180,200 |
| $ 180,200 | |||
| Pharmaceuticals — 0.0%(8) | |||
| Dexcom, Inc., 0.25%, 11/15/25 | $ | 175 | $ 183,575 |
| Jazz Investments I, Ltd., 2.00%, 6/15/26 | 200 | 202,700 | |
| $ 386,275 | |||
| Software — 0.1% | |||
| Akamai Technologies, Inc., 1.125%, 2/15/29(1) | $ | 200 | $ 217,300 |
4
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| Software (continued) | |||
| BILL Holdings, Inc., 0.00%, 12/1/25 | $ | 175 | $ 165,025 |
| Tyler Technologies, Inc., 0.25%, 3/15/26 | 175 | 177,362 | |
| $ 559,687 | |||
| Total Convertible Bonds (identified cost $2,498,737) | $ 2,524,264 | ||
| Corporate Bonds — 31.3% |
| Security | Principal Amount (000's omitted) | Value | |
| Aerospace & Defense — 0.7% | |||
| American Airlines, Inc./AAdvantage Loyalty IP, Ltd., 5.50%, 4/20/26(1) | $ | 2,188 | $ 2,173,328 |
| Continental Airlines Pass-Through Trust, Series 2012-2, Class A, 4.00%, 4/29/26 | 3,449 | 3,373,584 | |
| Delta Air Lines, Inc./SkyMiles IP, Ltd., 4.75%, 10/20/28(1) | 3,106 | 3,056,473 | |
| $ 8,603,385 | |||
| Auto Manufacturers — 0.9% | |||
| Hyundai Capital America: | |||
| 5.70%, 6/26/30(1) | $ | 2,036 | $ 2,086,098 |
| 6.20%, 9/21/30(1) | 975 | 1,027,443 | |
| 6.50%, 1/16/29(1) | 2,614 | 2,761,757 | |
| Tapestry, Inc.: | |||
| 7.00%, 11/27/26 | 1,643 | 1,703,971 | |
| 7.35%, 11/27/28 | 4,579 | 4,806,246 | |
| $ 12,385,515 | |||
| Banks — 8.5% | |||
| ABN AMRO Bank NV, 6.339% to 9/18/26, 9/18/27(1)(9) | $ | 2,300 | $ 2,351,752 |
| African Export-Import Bank (The), 3.994%, 9/21/29(10) | 2,200 | 1,972,322 | |
| AIB Group PLC, 6.608% to 9/13/28, 9/13/29(1)(9) | 2,829 | 2,983,469 | |
| Banco Mercantil del Norte S.A./Grand Cayman, 7.50% to 6/27/29(1)(9)(11) | 745 | 703,848 | |
| Banco Santander S.A.: | |||
| 4.175% to 3/24/27, 3/24/28(9) | 400 | 385,267 | |
| 6.921%, 8/8/33 | 5,400 | 5,760,112 | |
| 9.625% to 11/21/28(9)(11) | 3,000 | 3,221,826 | |
| Bank Hapoalim BM, 3.255% to 10/21/26, 1/21/32(1)(9)(10) | 2,600 | 2,260,154 | |
| Security | Principal Amount (000's omitted) | Value | |
| Banks (continued) | |||
| Bank Leumi Le-Israel BM, 7.129% to 4/18/28, 7/18/33(1)(9)(10) | $ | 2,360 | $ 2,323,703 |
| Bank of America Corp., 5.872% to 9/15/33, 9/15/34(9) | 3,627 | 3,798,869 | |
| Barclays PLC, 6.496% to 9/13/26, 9/13/27(9) | 3,596 | 3,698,314 | |
| BBVA Bancomer S.A., 8.45% to 6/29/33, 6/29/38(1)(9) | 2,261 | 2,412,747 | |
| BBVA Bancomer S.A./Texas, 5.125% to 1/18/28, 1/18/33(1)(9) | 2,270 | 2,058,538 | |
| BNP Paribas S.A., 8.50% to 8/14/28(1)(9)(11) | 5,510 | 5,783,979 | |
| BPCE S.A., 3.648% to 1/14/32, 1/14/37(1)(9) | 1,518 | 1,249,383 | |
| CaixaBank S.A.: | |||
| 6.208% to 1/18/28, 1/18/29(1)(9) | 3,192 | 3,258,731 | |
| 6.84% to 9/13/33, 9/13/34(1)(9) | 680 | 718,745 | |
| Danske Bank A/S, 5.375%, 1/12/24(1) | 5,212 | 5,210,912 | |
| Discover Bank, 5.974% to 8/9/28(9)(11) | 3,430 | 3,307,054 | |
| HSBC Holdings PLC, 7.39% to 11/3/27, 11/3/28(9) | 3,399 | 3,644,344 | |
| Intesa Sanpaolo SpA: | |||
| 7.778% to 6/20/53, 6/20/54(1)(9) | 2,500 | 2,580,789 | |
| 8.248% to 11/21/32, 11/21/33(1)(9) | 3,183 | 3,456,637 | |
| KeyBank N.A.: | |||
| 4.15%, 8/8/25 | 3,055 | 2,963,272 | |
| 5.85%, 11/15/27 | 3,495 | 3,494,980 | |
| KeyCorp, 3.878% to 5/23/24, 5/23/25(9) | 1,630 | 1,593,903 | |
| Macquarie Group, Ltd., 2.871% to 1/14/32, 1/14/33(1)(9) | 3,071 | 2,527,810 | |
| PNC Financial Services Group, Inc.: | |||
| 5.068% to 1/24/33, 1/24/34(9) | 3,000 | 2,936,907 | |
| 6.25% to 3/15/30(9)(11) | 5,734 | 5,359,385 | |
| Synchrony Bank, 5.40%, 8/22/25 | 1,200 | 1,182,657 | |
| Synchrony Financial, 4.875%, 6/13/25 | 563 | 553,855 | |
| Synovus Bank/Columbus, GA, 5.625%, 2/15/28 | 6,521 | 6,270,425 | |
| Texas Capital Bancshares, Inc., 4.00% to 5/6/26, 5/6/31(9) | 3,393 | 2,946,347 | |
| Toronto-Dominion Bank (The), 8.125% to 10/31/27, 10/31/82(9) | 4,577 | 4,775,134 | |
| Truist Financial Corp., 6.123% to 10/28/32, 10/28/33(9) | 4,822 | 5,009,545 | |
| U.S. Bancorp: | |||
| 5.836% to 6/10/33, 6/12/34(9) | 1,638 | 1,690,364 | |
| 5.85% to 10/21/32, 10/21/33(9) | 825 | 850,441 | |
| UBS Group AG: | |||
| 4.375% to 2/10/31(1)(9)(11) | 3,315 | 2,626,405 | |
| 9.25% to 11/13/28(1)(9)(11) | 4,910 | 5,309,070 | |
| $ 113,231,995 | |||
5
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| Building Materials — 0.2% | |||
| Cemex SAB de CV, 9.125% to 3/14/28(1)(9)(11) | $ | 2,796 | $ 2,981,235 |
| $ 2,981,235 | |||
| Chemicals — 1.0% | |||
| Celanese US Holdings, LLC, 6.35%, 11/15/28 | $ | 3,776 | $ 3,963,615 |
| NOVA Chemicals Corp., 4.875%, 6/1/24(1) | 2,125 | 2,108,446 | |
| Olympus Water US Holding Corp., 9.75%, 11/15/28(1) | 2,200 | 2,337,815 | |
| Sasol Financing USA, LLC, 8.75%, 5/3/29(1) | 5,000 | 5,106,611 | |
| $ 13,516,487 | |||
| Commercial Services — 0.8% | |||
| Allied Universal Holdco, LLC/Allied Universal Finance Corp., 6.625%, 7/15/26(1) | $ | 2,330 | $ 2,319,955 |
| Ashtead Capital, Inc.: | |||
| 4.25%, 11/1/29(1) | 2,785 | 2,603,667 | |
| 5.95%, 10/15/33(1) | 3,750 | 3,823,608 | |
| WASH Multifamily Acquisition, Inc., 5.75%, 4/15/26(1) | 2,340 | 2,254,372 | |
| $ 11,001,602 | |||
| Computers — 1.0% | |||
| Kyndryl Holdings, Inc.: | |||
| 2.70%, 10/15/28 | $ | 4,495 | $ 3,965,864 |
| 3.15%, 10/15/31 | 6,646 | 5,558,482 | |
| 4.10%, 10/15/41 | 370 | 278,180 | |
| Seagate HDD Cayman: | |||
| 5.75%, 12/1/34 | 1,953 | 1,879,049 | |
| 9.625%, 12/1/32 | 1,901 | 2,175,409 | |
| $ 13,856,984 | |||
| Diversified Financial Services — 4.6% | |||
| Ally Financial, Inc.: | |||
| 2.20%, 11/2/28 | $ | 7,600 | $ 6,469,043 |
| 3.875%, 5/21/24 | 3,500 | 3,470,638 | |
| Alpha Holding S.A. de CV, 9.00%, 2/10/25(1)(12) | 2,946 | 44,191 | |
| American AgCredit Corp., Series A, 5.25% to 6/15/26(1)(9)(11) | 1,431 | 1,337,985 | |
| Aviation Capital Group, LLC: | |||
| 6.25%, 4/15/28(1) | 6,497 | 6,632,227 | |
| 6.375%, 7/15/30(1) | 2,065 | 2,128,533 | |
| CI Financial Corp.: | |||
| 3.20%, 12/17/30 | 3,912 | 3,093,342 | |
| 4.10%, 6/15/51 | 3,984 | 2,342,918 | |
| Ford Motor Credit Co., LLC: | |||
| 5.125%, 6/16/25 | 3,639 | 3,594,838 | |
| Security | Principal Amount (000's omitted) | Value | |
| Diversified Financial Services (continued) | |||
| Ford Motor Credit Co., LLC: (continued) | |||
| 7.122%, 11/7/33 | $ | 5,474 | $ 5,900,877 |
| 7.35%, 3/6/30 | 7,400 | 7,955,728 | |
| Inversiones La Construccion S.A., 4.75%, 2/7/32(10) | 2,250 | 1,902,670 | |
| LPL Holdings, Inc., 6.75%, 11/17/28 | 2,620 | 2,794,610 | |
| Oaktree Strategic Credit Fund, 8.40%, 11/14/28(1) | 5,745 | 6,057,733 | |
| Rocket Mortgage, LLC/Rocket Mortgage Co.-Issuer, Inc., 3.875%, 3/1/31(1) | 2,900 | 2,554,236 | |
| UniCredit SpA, 5.861% to 6/19/27, 6/19/32(1)(9) | 5,038 | 4,934,414 | |
| $ 61,213,983 | |||
| Electric Utilities — 0.5% | |||
| Cometa Energia S.A. de CV, 6.375%, 4/24/35(10) | $ | 1,885 | $ 1,830,474 |
| Edison International, Series B, 5.00% to 12/15/26(9)(11) | 2,996 | 2,797,076 | |
| Minejesa Capital BV, 4.625%, 8/10/30(10) | 2,100 | 1,997,625 | |
| $ 6,625,175 | |||
| Electrical and Electronic Equipment — 0.3% | |||
| Jabil, Inc., 3.00%, 1/15/31 | $ | 1,088 | $ 943,624 |
| Vontier Corp., 2.95%, 4/1/31 | 3,671 | 3,096,332 | |
| $ 4,039,956 | |||
| Entertainment — 0.1% | |||
| WarnerMedia Holdings, Inc., 5.141%, 3/15/52 | $ | 1,825 | $ 1,567,576 |
| $ 1,567,576 | |||
| Foods — 0.3% | |||
| Smithfield Foods, Inc., 5.20%, 4/1/29(1) | $ | 4,300 | $ 4,121,688 |
| $ 4,121,688 | |||
| Health Care — 1.0% | |||
| Centene Corp.: | |||
| 2.50%, 3/1/31 | $ | 3,824 | $ 3,191,209 |
| 3.375%, 2/15/30 | 990 | 889,500 | |
| HCA, Inc., 5.00%, 3/15/24 | 5,000 | 4,991,373 | |
| Legacy LifePoint Health, LLC, 4.375%, 2/15/27(1) | 2,631 | 2,431,883 | |
| US Acute Care Solutions, LLC, 6.375%, 3/1/26(1) | 2,520 | 2,108,484 | |
| $ 13,612,449 | |||
| Insurance — 2.0% | |||
| American National Group, Inc., 6.144%, 6/13/32(1) | $ | 3,300 | $ 3,173,799 |
| ASR Nederland N.V., 7.00% to 9/7/33, 12/7/43(9)(10) | 2,860 | 3,571,592 | |
| Athene Global Funding, 2.646%, 10/4/31(1) | 5,300 | 4,312,165 | |
6
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| Insurance (continued) | |||
| Global Atlantic Fin Co.: | |||
| 3.125%, 6/15/31(1) | $ | 5,247 | $ 4,303,351 |
| 7.95%, 6/15/33(1) | 1,680 | 1,863,978 | |
| Liberty Mutual Group, Inc., 4.125% to 9/15/26, 12/15/51(1)(9) | 7,769 | 6,524,835 | |
| Stewart Information Services Corp., 3.60%, 11/15/31 | 4,244 | 3,312,818 | |
| $ 27,062,538 | |||
| Leisure Time — 0.8% | |||
| Brunswick Corp., 5.10%, 4/1/52 | $ | 6,491 | $ 5,081,213 |
| NCL Corp., Ltd., 5.875%, 3/15/26(1) | 2,550 | 2,493,524 | |
| Viking Cruises, Ltd., 5.875%, 9/15/27(1) | 2,525 | 2,438,835 | |
| $ 10,013,572 | |||
| Mining — 0.2% | |||
| Compass Minerals International, Inc., 6.75%, 12/1/27(1) | $ | 2,870 | $ 2,845,045 |
| $ 2,845,045 | |||
| Oil and Gas — 1.4% | |||
| Aethon United BR, L.P./Aethon United Finance Corp., 8.25%, 2/15/26(1) | $ | 2,740 | $ 2,756,495 |
| Enviva Partners, L.P./Enviva Partners Finance Corp., 6.50%, 1/15/26(1) | 3,339 | 1,648,166 | |
| Hunt Oil Co. of Peru, LLC Sucursal Del Peru, 8.55%, 9/18/33(1) | 1,616 | 1,768,575 | |
| Neptune Energy Bondco PLC, 6.625%, 5/15/25(1) | 1,315 | 1,304,204 | |
| Occidental Petroleum Corp., 7.50%, 5/1/31 | 3,000 | 3,367,920 | |
| Petroleos Mexicanos, 6.50%, 3/13/27 | 5,414 | 5,050,400 | |
| Var Energi ASA, 7.50%, 1/15/28(1) | 3,000 | 3,184,204 | |
| $ 19,079,964 | |||
| Packaging & Containers — 0.2% | |||
| Trivium Packaging Finance B.V., 5.50%, 8/15/26(1) | $ | 2,874 | $ 2,822,710 |
| $ 2,822,710 | |||
| Pipelines — 0.8% | |||
| Enbridge, Inc., 8.25% to 10/15/28, 1/15/84(9) | $ | 5,500 | $ 5,688,798 |
| Midwest Connector Capital Co., LLC, 4.625%, 4/1/29(1) | 4,344 | 4,186,450 | |
| New Fortress Energy, Inc., 6.50%, 9/30/26(1) | 192 | 184,571 | |
| $ 10,059,819 | |||
| Real Estate Investment Trusts (REITs) — 2.5% | |||
| American Assets Trust, L.P., 3.375%, 2/1/31 | $ | 3,290 | $ 2,685,485 |
| Security | Principal Amount (000's omitted) | Value | |
| Real Estate Investment Trusts (REITs) (continued) | |||
| Corporate Office Properties, L.P., 2.90%, 12/1/33 | $ | 3,876 | $ 3,030,127 |
| EPR Properties: | |||
| 3.60%, 11/15/31 | 1,200 | 996,380 | |
| 3.75%, 8/15/29 | 2,047 | 1,802,852 | |
| 4.95%, 4/15/28 | 6,569 | 6,237,544 | |
| HAT Holdings I, LLC/HAT Holdings II, LLC: | |||
| 3.75%, 9/15/30(1) | 5,251 | 4,429,195 | |
| 6.00%, 4/15/25(1) | 1,600 | 1,597,152 | |
| Sun Communities Operating, L.P.: | |||
| 4.20%, 4/15/32 | 1,180 | 1,077,479 | |
| 5.70%, 1/15/33 | 1,632 | 1,655,320 | |
| VICI Properties, L.P./VICI Note Co., Inc.: | |||
| 4.625%, 12/1/29(1) | 3,115 | 2,938,254 | |
| 5.625%, 5/1/24(1) | 3,000 | 2,992,113 | |
| 5.75%, 2/1/27(1) | 3,118 | 3,129,636 | |
| $ 32,571,537 | |||
| Retail — 0.8% | |||
| Dick's Sporting Goods, Inc., 4.10%, 1/15/52 | $ | 5,540 | $ 3,956,970 |
| Lithia Motors, Inc., 4.375%, 1/15/31(1) | 2,811 | 2,558,150 | |
| PetSmart, Inc./PetSmart Finance Corp., 4.75%, 2/15/28(1) | 2,400 | 2,264,458 | |
| Sonic Automotive, Inc., 4.625%, 11/15/29(1) | 2,575 | 2,346,486 | |
| $ 11,126,064 | |||
| Semiconductors — 0.3% | |||
| Foundry JV Holdco, LLC, 5.875%, 1/25/34(1) | $ | 3,873 | $ 3,982,523 |
| $ 3,982,523 | |||
| Software — 0.8% | |||
| Concentrix Corp.: | |||
| 6.60%, 8/2/28 | $ | 8,433 | $ 8,682,058 |
| 6.85%, 8/2/33 | 2,276 | 2,342,570 | |
| $ 11,024,628 | |||
| Technology — 0.2% | |||
| CDW, LLC/CDW Finance Corp., 3.276%, 12/1/28 | $ | 3,087 | $ 2,835,604 |
| $ 2,835,604 | |||
| Telecommunications — 1.3% | |||
| Clear Channel Outdoor Holdings, Inc., 5.125%, 8/15/27(1) | $ | 2,440 | $ 2,330,827 |
| Connect Finco S.a.r.l./Connect US Finco, LLC, 6.75%, 10/1/26(1) | 2,300 | 2,288,235 | |
7
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| Telecommunications (continued) | |||
| LCPR Senior Secured Financing DAC, 6.75%, 10/15/27(1) | $ | 2,325 | $ 2,279,581 |
| SES Global Americas Holdings GP, 5.30%, 3/25/44(1) | 1,360 | 1,064,053 | |
| SES S.A., 5.30%, 4/4/43(1) | 810 | 612,744 | |
| Sprint, LLC, 7.125%, 6/15/24 | 7,960 | 7,999,895 | |
| $ 16,575,335 | |||
| Transportation — 0.1% | |||
| Seaspan Corp., 5.50%, 8/1/29(1) | $ | 864 | $ 723,556 |
| $ 723,556 | |||
| Total Corporate Bonds (identified cost $417,387,354) | $ 417,480,925 | ||
| Exchange-Traded Funds — 1.0% |
| Security | Shares | Value | |
| Fixed Income Funds — 1.0% | |||
| iShares 0-5 Year High Yield Corporate Bond ETF | 155,000 | $ 6,544,100 | |
| iShares Broad USD High Yield Corporate Bond ETF | 180,000 | 6,543,000 | |
| Total Exchange-Traded Funds (identified cost $13,070,350) | $ 13,087,100 | ||
| Preferred Stocks — 0.3% |
| Security | Shares | Value | |
| Real Estate Management & Development — 0.2% | |||
| Brookfield Property Partners, L.P.: | |||
| Series A, 5.75% | 187,034 | $ 2,149,020 | |
| Series A2, 6.375% | 74,772 | 964,559 | |
| $ 3,113,579 | |||
| Wireless Telecommunication Services — 0.1% | |||
| United States Cellular Corp., 5.50% | 67,450 | $ 1,203,983 | |
| $ 1,203,983 | |||
| Total Preferred Stocks (identified cost $8,231,400) | $ 4,317,562 | ||
| Sovereign Government Bonds — 1.4% |
| Security | Principal Amount (000's omitted) | Value | |
| Dominican Republic — 0.2% | |||
| Dominican Republic, 11.25%, 9/15/35(10) | DOP | 152,800 | $ 2,846,062 |
| $ 2,846,062 | |||
| Mexico — 0.7% | |||
| Mexican Udibonos, 4.00%, 11/30/28 | MXN | 83,738 | $ 4,823,311 |
| Mexico Bonos, 8.00%, 9/5/24 | MXN | 85,000 | 4,908,874 |
| $ 9,732,185 | |||
| South Africa — 0.2% | |||
| Republic of South Africa, 5.875%, 4/20/32 | USD | 3,118 | $ 2,961,377 |
| $ 2,961,377 | |||
| Uruguay — 0.3% | |||
| Uruguay Government International Bond, 9.75%, 7/20/33 | UYU | 148,900 | $ 3,858,388 |
| $ 3,858,388 | |||
| Total Sovereign Government Bonds (identified cost $18,921,357) | $ 19,398,012 | ||
| U.S. Government Agency Mortgage-Backed Securities — 10.1% |
| Security | Principal Amount (000's omitted) | Value | |
| Federal National Mortgage Association: | |||
| 2.00%, 4/1/51 | $ | 1,038 | $ 864,991 |
| 4.00%, 30-Year, TBA(13) | 8,514 | 8,060,360 | |
| 4.50%, 30-Year, TBA(13) | 18,576 | 18,027,419 | |
| 5.00%, 30-Year, TBA(13) | 108,375 | 107,325,063 | |
| Total U.S. Government Agency Mortgage-Backed Securities (identified cost $132,973,888) | $ 134,277,833 | ||
| U.S. Treasury Obligations — 32.0% |
| Security | Principal Amount (000's omitted) | Value | |
| U.S. Treasury Bonds: | |||
| 2.375%, 2/15/42 | $ | 72,222 | $ 55,444,491 |
| 2.875%, 5/15/43 | 18,118 | 14,880,823 | |
| 2.875%, 5/15/52 | 5,803 | 4,621,999 | |
| 3.625%, 2/15/53 | 8,233 | 7,604,591 | |
8
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Security | Principal Amount (000's omitted) | Value | |
| U.S. Treasury Bonds: (continued) | |||
| 3.625%, 5/15/53 | $ | 24,036 | $ 22,227,666 |
| 3.875%, 2/15/43 | 4,455 | 4,249,304 | |
| 3.875%, 5/15/43 | 3,120 | 2,975,456 | |
| 4.00%, 11/15/52 | 6,082 | 6,001,936 | |
| U.S. Treasury Notes: | |||
| 0.375%, 12/31/25 | 46,330 | 42,942,119 | |
| 0.375%, 1/31/26 | 41,650 | 38,486,390 | |
| 0.50%, 2/28/26 | 11,380 | 10,517,832 | |
| 1.25%, 6/30/28 | 17,870 | 15,938,853 | |
| 1.25%, 9/30/28 | 13,000 | 11,523,027 | |
| 1.375%, 10/31/28 | 13,000 | 11,573,047 | |
| 1.50%, 11/30/28 | 14,900 | 13,327,934 | |
| 3.50%, 1/31/28 | 7,543 | 7,424,993 | |
| 3.50%, 4/30/28 | 12,455 | 12,258,688 | |
| 3.50%, 4/30/30 | 6,961 | 6,805,193 | |
| 3.625%, 3/31/28 | 5,750 | 5,688,232 | |
| 3.625%, 5/31/28 | 15,600 | 15,436,992 | |
| 3.625%, 3/31/30 | 2,822 | 2,778,898 | |
| 3.75%, 5/31/30 | 7,505 | 7,440,211 | |
| 3.875%, 8/15/33 | 3,316 | 3,312,891 | |
| 4.00%, 2/29/28 | 6,228 | 6,249,530 | |
| 4.125%, 7/31/28 | 12,400 | 12,529,570 | |
| 4.50%, 11/15/33 | 5,898 | 6,193,822 | |
| 4.625%, 9/15/26 | 11,276 | 11,434,349 | |
| 5.25%, 11/15/28 | 22,355 | 23,712,892 | |
| 5.375%, 2/15/31 | 21,475 | 23,549,519 | |
| 6.25%, 5/15/30 | 5,520 | 6,243,206 | |
| 6.75%, 8/15/26 | 13,295 | 14,179,948 | |
| Total U.S. Treasury Obligations (identified cost $427,757,893) | $ 427,554,402 | ||
| Miscellaneous — 0.0% |
| Security | Principal Amount | Value | |
| Financial Intermediaries — 0.0% | |||
| Alpha Holding S.A., Escrow Certificates(14)(15) | $ 6,250,000 | $ 0 | |
| Total Miscellaneous (identified cost $0) | $ 0 | ||
| Short-Term Investments — 3.5% |
| Affiliated Fund – 2.6% |
| Security | Shares | Value | |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.27%(16) | 34,350,714 | $ 34,350,714 | |
| Total Affiliated Fund (identified cost $34,350,714) | $ 34,350,714 | ||
| Commercial Paper – 0.9% |
| Security | Principal Amount (000's omitted) | Value | |
| Aviation Capital Group, LLC, 5.975%(1)(17) | $ | 6,000 | $ 5,993,577 |
| Harley-Davidson Financial Services, Inc., 6.264%(1)(17) | 7,000 | 6,961,949 | |
| Total Commercial Paper (identified cost $12,959,270) | $ 12,955,526 | ||
| Total Short-Term Investments (identified cost $47,309,984) | $ 47,306,240 | ||
| Total Investments — 109.0% (identified cost $1,486,980,941) | $1,455,196,114 | ||
| Other Assets, Less Liabilities — (9.0)% | $ (120,379,774) | ||
| Net Assets — 100.0% | $1,334,816,340 | ||
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
| (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 December 31, 2023, the aggregate value of these securities is $557,013,203 or 41.7% of the Fund's net assets. |
| (2) | Variable rate security. The stated interest rate represents the rate in effect at December 31, 2023. |
| (3) | Principal Amount is denominated in Canadian dollars. |
| (4) | Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at December 31, 2023. |
| (5) | Step coupon security. Interest rate represents the rate in effect at December 31, 2023. |
| (6) | Inverse floating-rate security whose coupon varies inversely with changes in the interest rate index. The stated interest rate represents the coupon rate in effect at December 31, 2023. |
| (7) | Represents an investment in an issuer that may be deemed to be an affiliate. |
| (8) | Amount is less than 0.05%. |
9
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| (9) | Security converts to variable rate after the indicated fixed-rate coupon period. |
| (10) | 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 December 31, 2023, the aggregate value of these securities is $18,704,602 or 1.4% of the Fund's net assets. |
| (11) | Perpetual security with no stated maturity date but may be subject to calls by the issuer. |
| (12) | Issuer is in default with respect to interest and/or principal payments. |
| (13) | TBA (To Be Announced) securities are purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date are determined upon settlement. |
| (14) | For fair value measurement disclosure purposes, security is categorized as Level 3. |
| (15) | Non-income producing security. |
| (16) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of December 31, 2023. |
| (17) | Rate shown reflects the yield at December 31, 2023. |
| Country Concentration of Portfolio | ||
| Country | Percentage of Total Investments | Value |
| United States | 86.8% | $1,263,567,568 |
| Mexico | 1.7 | 24,813,618 |
| Canada | 1.4 | 19,963,366 |
| Spain | 0.9 | 13,344,681 |
| Cayman Islands | 0.9 | 12,834,841 |
| United Kingdom | 0.8 | 11,250,529 |
| Italy | 0.8 | 10,971,840 |
| Ireland | 0.7 | 10,515,114 |
| Netherlands | 0.6 | 8,746,054 |
| Bermuda | 0.6 | 8,523,565 |
| South Africa | 0.6 | 8,067,988 |
| Switzerland | 0.5 | 7,935,475 |
| France | 0.5 | 7,033,362 |
| Denmark | 0.4 | 5,210,912 |
| Israel | 0.3 | 4,583,857 |
| Supranational | 0.3 | 4,260,557 |
| Uruguay | 0.3 | 3,858,388 |
| Norway | 0.2 | 3,184,204 |
| Dominican Republic | 0.2 | 2,846,062 |
| Australia | 0.2 | 2,527,810 |
| Indonesia | 0.1 | 1,997,625 |
| Chile | 0.1 | 1,902,670 |
| Peru | 0.1 | 1,768,575 |
| Luxembourg | 0.1 | 1,676,797 |
| Hong Kong | 0.0(1) | 723,556 |
| Exchange-Traded Funds | 0.9 | 13,087,100 |
| Total Investments | 100.0% | $1,455,196,114 |
| (1) | Amount is less than 0.05%. |
| Forward Foreign Currency Exchange Contracts (OTC) | |||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | ||
| BRL | 26,773,357 | USD | 5,415,980 | State Street Bank and Trust Company | 2/8/24 | $83,549 | $ — |
| USD | 5,223,652 | CAD | 7,139,531 | State Street Bank and Trust Company | 2/8/24 | — | (167,251) |
| USD | 3,134,127 | EUR | 2,907,464 | UBS AG | 2/8/24 | — | (80,100) |
| $83,549 | $(247,351) | ||||||
10
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Futures Contracts | |||||
| Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
| Interest Rate Futures | |||||
| U.S. 2-Year Treasury Note | 1,298 | Long | 3/28/24 | $267,276,452 | $2,262,818 |
| U.S. 5-Year Treasury Note | 478 | Long | 3/28/24 | 51,993,703 | 484,177 |
| U.S. 10-Year Treasury Note | 146 | Long | 3/19/24 | 16,482,031 | 598,672 |
| U.S. Ultra 10-Year Treasury Note | 241 | Long | 3/19/24 | 28,441,766 | 1,005,709 |
| U.S. Long Treasury Bond | 185 | Long | 3/19/24 | 23,113,437 | 1,559,293 |
| U.S. Ultra-Long Treasury Bond | 143 | Long | 3/19/24 | 19,103,906 | 1,641,267 |
| $7,551,936 | |||||
| Abbreviations: | |
| OTC | – Over-the-counter |
| SOFR | – Secured Overnight Financing Rate |
| TBA | – To Be Announced |
| Currency Abbreviations: | |
| BRL | – Brazilian Real |
| CAD | – Canadian Dollar |
| DOP | – Dominican Peso |
| EUR | – Euro |
| MXN | – Mexican Peso |
| USD | – United States Dollar |
| UYU | – Uruguayan Peso |
At December 31, 2023, 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:
Credit Risk: The Fund enters into credit default swap contracts to manage certain investment risks and/or to enhance total return or as a substitute for the purchase or sale of securities.
Foreign Exchange Risk: The Fund 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.
Interest Rate Risk: The Fund enters into interest rate futures contracts to seek to hedge against fluctuations in interest rates and/or to change the effective duration of its portfolio.
11
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
Affiliated Investments
At December 31, 2023, the value of the Fund's investment in issuers and funds that may be deemed to be affiliated was $59,516,173, which represents 4.5% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended December 31, 2023 were as follows:
| Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Interest/ Dividend income | Principal amount/ Shares, end of period |
| Affiliated Investment Funds | ||||||||
| Eaton Vance Emerging Markets Local Income Fund, Class I | $ — | $10,086,705 | $ — | $ — | $202,312 | $10,289,017 | $86,705 | 2,914,736 |
| Commercial Mortgage-Backed Securities | ||||||||
| Morgan Stanley Bank of America Merrill Lynch Trust: | ||||||||
| Series 2016-C29, Class C, 4.72%, 5/15/49 | 3,633,419 | — | — | — | 99,809 | 3,733,228 | 49,547 | $4,198,800 |
| Series 2016-C29, Class D, 3.00%, 5/15/49 | 2,189,292 | — | — | — | 98,570 | 2,291,998 | 26,993 | 3,047,635 |
| Series 2016-C32, Class D, 3.396%, 12/15/49 | 3,303,944 | — | — | — | (435,798) | 2,876,336 | 50,641 | 5,000,000 |
| Morgan Stanley Capital I Trust: | ||||||||
| Series 2019-BPR, Class B, 8.035%, (1 mo. SOFR+2.692%), 5/15/36 | 3,787,158 | — | — | — | 53,526 | 3,843,584 | 84,026 | 3,960,000 |
| Series 2019-BPR, Class C, 8.985%, (1 mo. SOFR+3.642%), 5/15/36 | 2,100,512 | — | — | — | 29,886 | 2,131,296 | 51,745 | 2,219,000 |
| Short-Term Investments | ||||||||
| Liquidity Fund, Institutional Class(1) | 7,241,977 | 264,002,138 | (236,893,401) | — | — | 34,350,714 | 584,168 | 34,350,714 |
| Total | $ — | $48,305 | $59,516,173 | $933,825 | ||||
| (1) | Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio. |
Fair Value Measurements
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 December 31, 2023, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at fair value, were as follows:
| Asset Description | Level 1 | Level 2 | Level 3* | Total |
| Affiliated Investment Funds | $10,289,017 | $ — | $ — | $ 10,289,017 |
| Asset-Backed Securities | — | 204,835,224 | — | 204,835,224 |
| Collateralized Mortgage Obligations | — | 70,496,694 | — | 70,496,694 |
| Commercial Mortgage-Backed Securities | — | 103,628,841 | — | 103,628,841 |
| Convertible Bonds | — | 2,524,264 | — | 2,524,264 |
12
Eaton Vance
Total Return Bond Fund
December 31, 2023
Portfolio of Investments (Unaudited) — continued
| Asset Description (continued) | Level 1 | Level 2 | Level 3* | Total |
| Corporate Bonds | $ — | $ 417,480,925 | $ — | $ 417,480,925 |
| Exchange-Traded Funds | 13,087,100 | — | — | 13,087,100 |
| Preferred Stocks | 4,317,562 | — | — | 4,317,562 |
| Sovereign Government Bonds | — | 19,398,012 | — | 19,398,012 |
| U.S. Government Agency Mortgage-Backed Securities | — | 134,277,833 | — | 134,277,833 |
| U.S. Treasury Obligations | — | 427,554,402 | — | 427,554,402 |
| Miscellaneous | — | — | 0 | 0 |
| Short-Term Investments: | ||||
| Affiliated Fund | 34,350,714 | — | — | 34,350,714 |
| Commercial Paper | — | 12,955,526 | — | 12,955,526 |
| Total Investments | $62,044,393 | $1,393,151,721 | $ — | $1,455,196,114 |
| Forward Foreign Currency Exchange Contracts | $ — | $ 83,549 | $ — | $ 83,549 |
| Futures Contracts | 7,551,936 | — | — | 7,551,936 |
| Total | $69,596,329 | $1,393,235,270 | $ — | $1,462,831,599 |
| Liability Description | ||||
| Forward Foreign Currency Exchange Contracts | $ — | $ (247,351) | $ — | $ (247,351) |
| Total | $ — | $ (247,351) | $ — | $ (247,351) |
| * | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |
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 December 31, 2023 is not presented.
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.
13