Calvert
Mid-Cap Fund
June 30, 2024
Schedule of Investments (Unaudited)
Common Stocks — 98.8% |
Security | Shares | Value | |
Automobile Components — 2.4% | |||
Dorman Products, Inc.(1) | 58,938 | $ 5,391,648 | |
$ 5,391,648 | |||
Banks — 2.3% | |||
Commerce Bancshares, Inc. | 50,510 | $ 2,817,448 | |
First Financial Bankshares, Inc. | 79,284 | 2,341,256 | |
$ 5,158,704 | |||
Biotechnology — 0.6% | |||
Neurocrine Biosciences, Inc.(1) | 10,351 | $ 1,425,022 | |
$1,425,022 | |||
Building Products — 1.9% | |||
AZEK Co., Inc.(1) | 101,219 | $4,264,357 | |
$4,264,357 | |||
Capital Markets — 4.5% | |||
LPL Financial Holdings, Inc. | 12,621 | $3,525,045 | |
Tradeweb Markets, Inc., Class A | 62,756 | 6,652,136 | |
$10,177,181 | |||
Chemicals — 2.0% | |||
Quaker Chemical Corp. | 26,384 | $4,477,365 | |
$4,477,365 | |||
Commercial Services & Supplies — 4.7% | |||
Copart, Inc.(1) | 99,311 | $5,378,684 | |
Rentokil Initial PLC ADR(2) | 175,852 | 5,214,012 | |
$10,592,696 | |||
Communications Equipment — 3.1% | |||
Motorola Solutions, Inc. | 18,099 | $6,987,119 | |
$6,987,119 | |||
Consumer Staples Distribution & Retail — 2.6% | |||
Casey's General Stores, Inc. | 5,550 | $2,117,658 | |
U.S. Foods Holding Corp.(1) | 71,831 | 3,805,606 | |
$5,923,264 | |||
Containers & Packaging — 3.2% | |||
AptarGroup, Inc. | 51,392 | $7,236,508 | |
$7,236,508 | |||
Electric Utilities — 2.7% | |||
Alliant Energy Corp. | 121,200 | $6,169,080 | |
$6,169,080 |
Security | Shares | Value | |
Electrical Equipment — 2.6% | |||
AMETEK, Inc. | 34,813 | $ 5,803,675 | |
$ 5,803,675 | |||
Electronic Equipment, Instruments & Components — 1.9% | |||
TE Connectivity Ltd. | 29,319 | $ 4,410,457 | |
$ 4,410,457 | |||
Food Products — 1.1% | |||
Lamb Weston Holdings, Inc. | 29,729 | $ 2,499,614 | |
$ 2,499,614 | |||
Ground Transportation — 1.1% | |||
Landstar System, Inc. | 13,203 | $2,435,689 | |
$2,435,689 | |||
Health Care Equipment & Supplies — 6.2% | |||
Cooper Cos., Inc. | 57,230 | $4,996,179 | |
IDEXX Laboratories, Inc.(1) | 9,618 | 4,685,890 | |
Teleflex, Inc. | 20,955 | 4,407,465 | |
$14,089,534 | |||
Hotels, Restaurants & Leisure — 7.3% | |||
Aramark | 181,078 | $6,160,273 | |
Choice Hotels International, Inc. | 20,271 | 2,412,249 | |
Domino's Pizza, Inc. | 4,954 | 2,557,899 | |
Wyndham Hotels & Resorts, Inc. | 74,337 | 5,500,938 | |
$16,631,359 | |||
Household Durables — 1.1% | |||
NVR, Inc.(1) | 314 | $2,382,808 | |
$2,382,808 | |||
Household Products — 1.5% | |||
Church & Dwight Co., Inc. | 32,533 | $3,373,021 | |
$3,373,021 | |||
Industrial REITs — 1.5% | |||
Rexford Industrial Realty, Inc. | 77,002 | $3,433,519 | |
$3,433,519 | |||
Insurance — 8.0% | |||
American Financial Group, Inc. | 26,943 | $3,314,528 | |
Arch Capital Group Ltd.(1) | 33,108 | 3,340,266 | |
Kinsale Capital Group, Inc. | 5,934 | 2,286,252 | |
Ryan Specialty Holdings, Inc.(2) | 41,517 | 2,404,249 | |
W.R. Berkley Corp. | 28,627 | 2,249,510 | |
White Mountains Insurance Group Ltd. | 2,483 | 4,512,728 | |
$18,107,533 |
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Calvert
Mid-Cap Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
Security | Shares | Value | |
IT Services — 2.5% | |||
VeriSign, Inc.(1) | 32,281 | $ 5,739,562 | |
$ 5,739,562 | |||
Life Sciences Tools & Services — 1.1% | |||
Avantor, Inc.(1) | 117,803 | $ 2,497,424 | |
$ 2,497,424 | |||
Machinery — 4.2% | |||
Graco, Inc. | 45,207 | $ 3,584,011 | |
Middleby Corp.(1) | 26,556 | 3,256,031 | |
Nordson Corp. | 12,028 | 2,789,774 | |
$9,629,816 | |||
Multi-Utilities — 2.8% | |||
CMS Energy Corp. | 105,996 | $6,309,942 | |
$6,309,942 | |||
Pharmaceuticals — 1.6% | |||
Royalty Pharma PLC, Class A | 136,338 | $3,595,233 | |
$3,595,233 | |||
Professional Services — 2.0% | |||
Dayforce, Inc.(1)(2) | 39,313 | $1,949,925 | |
Verisk Analytics, Inc. | 9,703 | 2,615,444 | |
$4,565,369 | |||
Residential REITs — 4.3% | |||
Equity LifeStyle Properties, Inc. | 90,898 | $5,920,187 | |
Mid-America Apartment Communities, Inc. | 26,656 | 3,801,412 | |
$9,721,599 | |||
Semiconductors & Semiconductor Equipment — 3.7% | |||
Microchip Technology, Inc. | 45,831 | $4,193,536 | |
ON Semiconductor Corp.(1) | 35,741 | 2,450,046 | |
Teradyne, Inc. | 11,618 | 1,722,833 | |
$8,366,415 | |||
Software — 3.8% | |||
Fair Isaac Corp.(1) | 2,062 | $3,069,617 | |
Tyler Technologies, Inc.(1) | 10,834 | 5,447,118 | |
$8,516,735 | |||
Specialized REITs — 2.5% | |||
Lamar Advertising Co., Class A | 47,601 | $5,689,748 | |
$5,689,748 | |||
Specialty Retail — 4.5% | |||
Burlington Stores, Inc.(1) | 14,367 | $3,448,080 | |
Five Below, Inc.(1) | 11,109 | 1,210,548 |
Security | Shares | Value | |
Specialty Retail (continued) | |||
O'Reilly Automotive, Inc.(1) | 5,267 | $ 5,562,268 | |
$ 10,220,896 | |||
Trading Companies & Distributors — 3.5% | |||
Core & Main, Inc., Class A(1) | 110,983 | $ 5,431,508 | |
United Rentals, Inc. | 3,764 | 2,434,292 | |
$ 7,865,800 | |||
Total Common Stocks (identified cost $187,529,201) | $223,688,692 |
Short-Term Investments — 3.4% | |||
Affiliated Fund — 1.3% | |||
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.22%(3) | 2,910,951 | $ 2,910,951 | |
Total Affiliated Fund (identified cost $2,910,951) | $ 2,910,951 | ||
Securities Lending Collateral — 2.1% | |||
Security | Shares | Value | |
State Street Navigator Securities Lending Government Money Market Portfolio, 5.33%(4) | 4,923,054 | $ 4,923,054 | |
Total Securities Lending Collateral (identified cost $4,923,054) | $ 4,923,054 | ||
Total Short-Term Investments (identified cost $7,834,005) | $ 7,834,005 | ||
Total Investments — 102.2% (identified cost $195,363,206) | $231,522,697 | ||
Other Assets, Less Liabilities — (2.2)% | $ (5,047,688) | ||
Net Assets — 100.0% | $226,475,009 |
The percentage shown for each investment category in the Schedule of Investments is based on net assets. | |
(1) | Non-income producing security. |
(2) | All or a portion of this security was on loan at June 30, 2024. The aggregate market value of securities on loan at June 30, 2024 was $8,834,426 and the total market value of the collateral received by the Fund was $9,296,846, comprised of cash of $4,923,054 and U.S. government and/or agencies securities of $4,373,792. |
(3) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of June 30, 2024. |
(4) | Represents investment of cash collateral received in connection with securities lending. |
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Calvert
Mid-Cap Fund
June 30, 2024
Schedule of Investments (Unaudited) — continued
Abbreviations: | |
ADR | – American Depositary Receipt |
REITs | – Real Estate Investment Trusts |
The Fund did not have any open derivative instruments at June 30, 2024.
Affiliated Investments
At June 30, 2024, the value of the Fund's investment in Calvert Impact Capital, Inc. and in funds that may be deemed to be affiliated was $2,910,951, which represents 1.3% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended June 30, 2024 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 |
High Social Impact Investments | ||||||||
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23 | $355,064 | $ — | $ (360,000) | $ — | $4,936 | $ — | $ 1,110 | $ — |
Short-Term Investments | ||||||||
Liquidity Fund, Institutional Class(1) | 6,229 | 37,210,308 | (34,305,586) | — | — | 2,910,951 | 83,746 | 2,910,951 |
Total | $ — | $4,936 | $2,910,951 | $84,856 |
(1) | 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, 2024, based on the inputs used to value them:
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $223,688,692(1) | $ — | $ — | $223,688,692 |
Short-Term Investments: | ||||
Affiliated Fund | 2,910,951 | — | — | 2,910,951 |
Securities Lending Collateral | 4,923,054 | — | — | 4,923,054 |
Total Investments | $231,522,697 | $ — | $ — | $231,522,697 |
(1) | The level classification by major category of investments is the same as the category presentation in the Schedule of Investments. |
For information on the Fund’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund’s most recent financial statements included in its semi-annual or annual report to shareholders.
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