Eaton Vance
Special Equities Fund
September 30, 2022
Portfolio of Investments (Unaudited)

Common Stocks — 96.2%
Security Shares Value
Aerospace & Defense — 2.6%
Hexcel Corp.      15,556 $   804,556
Woodward, Inc.       5,745    461,094
      $ 1,265,650
Auto Components — 4.1%
Dana, Inc.      38,225 $   436,912
Dorman Products, Inc.(1)      12,630  1,037,175
Visteon Corp.(1)       4,630    491,058
      $ 1,965,145
Automobiles — 0.9%
Harley-Davidson, Inc.      12,880 $   449,254
      $   449,254
Banks — 9.6%
Commerce Bancshares, Inc.      17,104 $ 1,131,601
CVB Financial Corp.      22,995    582,233
M&T Bank Corp.       6,635  1,169,883
SouthState Corp.      15,500  1,226,360
Wintrust Financial Corp.       6,570    535,784
      $ 4,645,861
Biotechnology — 1.5%
Neurocrine Biosciences, Inc.(1)       6,745 $   716,386
      $   716,386
Building Products — 3.4%
AAON, Inc.      15,320 $   825,441
AZEK Co., Inc. (The)(1)      50,024    831,399
      $ 1,656,840
Capital Markets — 3.3%
LPL Financial Holdings, Inc.       1,685 $   368,139
MarketAxess Holdings, Inc.       2,155    479,466
Stifel Financial Corp.       5,295    274,863
Tradeweb Markets, Inc., Class A       8,685    490,008
      $ 1,612,476
Chemicals — 3.3%
Quaker Houghton       3,940 $   568,857
Security Shares Value
Chemicals (continued)
Valvoline, Inc.      40,815 $ 1,034,252
      $ 1,603,109
Commercial Services & Supplies — 0.1%
MillerKnoll, Inc.       2,760 $    43,056
      $    43,056
Communications Equipment — 1.9%
F5, Inc.(1)       6,320 $   914,694
      $   914,694
Containers & Packaging — 1.4%
AptarGroup, Inc.       7,185 $   682,791
      $   682,791
Diversified Consumer Services — 1.8%
Terminix Global Holdings, Inc.(1)      23,015 $   881,244
      $   881,244
Electric Utilities — 1.2%
Alliant Energy Corp.      11,304 $   598,999
      $   598,999
Electrical Equipment — 0.8%
Generac Holdings, Inc.(1)       2,225 $   396,362
      $   396,362
Electronic Equipment, Instruments & Components — 1.4%
National Instruments Corp.      18,040 $   680,830
      $   680,830
Equity Real Estate Investment Trusts (REITs) — 5.8%
CubeSmart      16,832 $   674,290
EastGroup Properties, Inc.       5,645    814,799
Equity LifeStyle Properties, Inc.      10,430    655,421
Rexford Industrial Realty, Inc.      12,840    667,680
      $ 2,812,190
Food & Staples Retailing — 3.1%
Performance Food Group Co.(1)      34,763 $ 1,493,071
      $ 1,493,071
Health Care Equipment & Supplies — 4.7%
Cooper Cos., Inc. (The)       1,836 $   484,520
Envista Holdings Corp.(1)      26,185     859,130
 
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Eaton Vance
Special Equities Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued

Security Shares Value
Health Care Equipment & Supplies (continued)
Tandem Diabetes Care, Inc.(1)       5,580 $   267,003
Teleflex, Inc.       3,354    675,697
      $ 2,286,350
Health Care Providers & Services — 7.2%
Addus HomeCare Corp.(1)       4,750 $   452,390
Agiliti, Inc.(1)      46,610    666,989
Amedisys, Inc.(1)       1,975    191,160
Chemed Corp.       2,760  1,204,906
R1 RCM, Inc.(1)      51,240    949,477
      $ 3,464,922
Hotels, Restaurants & Leisure — 2.1%
Texas Roadhouse, Inc.       5,380 $   469,459
Wyndham Hotels & Resorts, Inc.       8,815    540,800
      $ 1,010,259
Insurance — 8.2%
RLI Corp.       9,042 $   925,720
Ryan Specialty Holdings, Inc., Class A(1)      27,756  1,127,449
Selective Insurance Group, Inc.      10,960    892,144
W.R. Berkley Corp.      15,790  1,019,718
      $ 3,965,031
Interactive Media & Services — 1.0%
CarGurus, Inc.(1)      33,435 $   473,774
      $   473,774
Leisure Products — 0.4%
Brunswick Corp.       3,160 $   206,822
      $   206,822
Machinery — 6.1%
Chart Industries, Inc.(1)       3,540 $   652,599
Graco, Inc.      14,600    875,270
Middleby Corp.(1)       7,270    931,796
Nordson Corp.       2,310    490,344
      $ 2,950,009
Multi-Utilities — 1.2%
CMS Energy Corp.       9,800 $   570,752
      $   570,752
Security Shares Value
Oil, Gas & Consumable Fuels — 0.8%
Archaea Energy, Inc.(1)      20,210 $   363,982
      $   363,982
Pharmaceuticals — 1.2%
Jazz Pharmaceuticals PLC(1)       4,495 $   599,139
      $   599,139
Professional Services — 3.0%
CBIZ, Inc.(1)      33,460 $ 1,431,419
      $ 1,431,419
Road & Rail — 1.2%
Landstar System, Inc.       3,940 $   568,818
      $   568,818
Semiconductors & Semiconductor Equipment — 0.2%
Ambarella, Inc.(1)       1,770 $    99,439
      $    99,439
Software — 7.2%
Altair Engineering, Inc., Class A(1)      19,152 $   846,901
Ceridian HCM Holding, Inc.(1)       5,895    329,413
Clearwater Analytics Holdings, Inc., Class A(1)      25,530    428,649
Envestnet, Inc.(1)      13,090    581,196
Fair Isaac Corp.(1)       2,170    894,062
nCino, Inc.(1)      12,159    414,743
      $ 3,494,964
Specialty Retail — 2.1%
Five Below, Inc.(1)       4,190 $   576,837
Floor & Decor Holdings, Inc., Class A(1)       2,850    200,241
RH(1)         870    214,081
      $   991,159
Trading Companies & Distributors — 3.4%
Core & Main, Inc., Class A(1)      35,055 $   797,151
Herc Holdings, Inc.       7,920    822,729
      $ 1,619,880
Total Common Stocks
(identified cost $45,888,236)
    $46,514,677
    
 
2

Eaton Vance
Special Equities Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued

Short-Term Investments — 3.9%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 2.80%(2)   1,862,848 $ 1,862,848
Total Short-Term Investments
(identified cost $1,862,848)
    $ 1,862,848
Total Investments — 100.1%
(identified cost $47,751,084)
    $48,377,525
Other Assets, Less Liabilities — (0.1)%     $   (28,084)
Net Assets — 100.0%     $48,349,441
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
(1) Non-income producing security.
(2) May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of September 30, 2022.
The Fund did not have any open derivative instruments at September 30, 2022.
Affiliated Investments
At September 30, 2022, the value of the Fund's investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio (Liquidity Fund) and Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund) was $1,862,848, which represents 3.9% of the Fund's net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended September 30, 2022 were as follows:
Name Value,
beginning
of period
Purchases Sales
proceeds
Net
realized
gain (loss)
Change in
unrealized
appreciation
(depreciation)
Value, end
of period
Dividend
income
Units/Shares,
end of period
Affiliated Fund
Cash Reserves Fund $1,463,016 $7,535,347 $(8,998,429) $66 $ — $ — $239       —
Liquidity Fund  — 8,384,962 (6,522,114)  —  — 1,862,848 4,744 1,862,848
Total       $66 $ — $1,862,848 $4,983  
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.
3

Eaton Vance
Special Equities Fund
September 30, 2022
Portfolio of Investments (Unaudited) — continued

At September 30, 2022, the hierarchy of inputs used in valuing the Fund's investments, which are carried at value, were as follows:
Asset Description Level 1 Level 2 Level 3 Total
Common Stocks $46,514,677* $ — $ — $46,514,677
Short-Term Investments  1,862,848  —  —  1,862,848
Total Investments $48,377,525 $ — $ — $48,377,525
* The level classification by major category of investments is the same as the category presentation in the Portfolio 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 semiannual or annual report to shareholders.
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