Calvert
Conservative Allocation Fund
June 30, 2026
Schedule of Investments (Unaudited)
Mutual Funds — 99.4%(1)
    
Security Shares Value
Equity Funds — 35.8%  
Calvert Impact Fund, Inc.:      
Calvert Small/Mid-Cap Fund, Class I      43,159 $  1,150,624
Calvert Small-Cap Fund, Class R6   57,003    1,925,004
Calvert Responsible Index Series, Inc.:      
Calvert International Responsible Index Fund, Class R6     240,445   10,937,843
Calvert US Large-Cap Core Responsible Index Fund, Class R6   323,244   20,357,876
Calvert US Large-Cap Growth Responsible Index Fund, Class R6   249,477   20,661,664
Calvert US Large-Cap Value Responsible Index Fund, Class R6   194,425    8,016,137
Calvert US Mid-Cap Core Responsible Index Fund, Class R6   22,050 1,144,376
Calvert Social Investment Fund:      
Calvert Equity Fund, Class R6   78,554 5,899,394
Calvert World Values Fund, Inc.:      
Calvert Emerging Markets Advancement Fund, Class I   236,472 4,615,939
Calvert Emerging Markets Equity Fund, Class R6   53,416 1,613,176
Calvert International Equity Fund, Class R6   75,120 2,231,060
Calvert International Opportunities Fund, Class R6   853 15,978
      $78,569,071
Income Funds — 63.6%  
Calvert Management Series:      
Calvert Flexible Bond Fund, Class R6   570,441 $8,431,122
Calvert Social Investment Fund:      
Calvert Bond Fund, Class R6   4,536,956 66,103,442
The Calvert Fund:      
Calvert Core Bond Fund, Class I   2,541,309 39,923,972
Calvert High Yield Bond Fund, Class R6   399,413 9,761,659
Security Shares Value
Income Funds (continued)  
The Calvert Fund: (continued)      
Calvert Mortgage Access Fund, Class I   1,594,953 $ 15,518,891
Calvert Short Duration Income Fund, Class R6   593       9,361
      $139,748,447
Total Mutual Funds
(identified cost $195,572,975) 		    $218,317,518
    
Short-Term Investments — 0.7%
    
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.56%(2)   1,436,827 $  1,436,827
Total Short-Term Investments
(identified cost $1,436,827) 		    $  1,436,827
Total Investments — 100.1%
(identified cost $197,009,802) 		    $219,754,345
    
Other Assets, Less Liabilities — (0.1)%     $   (215,362)
Net Assets — 100.0%     $219,538,983
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
(1) Affiliated fund.
(2) May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of June 30, 2026.
 
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Calvert
Conservative Allocation Fund
June 30, 2026
Schedule of Investments (Unaudited) — continued
The Fund did not have any open derivative instruments at June 30, 2026.
Affiliated Investments
At June 30, 2026, the value of the Fund's investment in affiliated funds, including funds that may be deemed to be affiliated, was $219,754,345, which represents 100.1% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended June 30, 2026 were as follows:
Name of
Calvert Fund 		Value,
beginning
of period 		Purchases Sales
proceeds 		Net
realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Value,
end of
period 		Dividend
income 		Capital gains
distributions
received 		Shares,
end of period
Bond Fund, Class R6 $62,243,001 $ 8,802,176 $ (4,083,065) $ (194,746) $  (663,924) $ 66,103,442 $2,050,766 $ — 4,536,956
Core Bond Fund, Class I 31,684,239 10,583,421  (1,630,071)   (37,229)   (676,388)  39,923,972 1,266,839  — 2,541,309
Emerging Markets Advancement Fund, Class I  4,106,609    132,631    (838,834)   276,255    939,278   4,615,939   132,631  — 236,472
Emerging Markets Equity Fund, Class R6  1,770,990     43,509    (813,798)   329,639    282,836   1,613,176    43,508  — 53,416
Equity Fund, Class R6  7,017,955  1,229,067    (638,305)   131,462 (1,840,785)   5,899,394    26,780 1,081,127 78,554
Flexible Bond Fund, Class R6 14,106,318    499,054  (6,067,796)   (15,743)    (90,711)   8,431,122   369,249  — 570,441
Floating-Rate Advantage Fund, Class R6  7,560,514    263,611  (7,612,802)  (272,027)     60,704   —   276,963  — —
Focused Value Fund, Class R6  5,888,083    337,916  (6,265,194) 1,154,041 (1,114,846)   —    70,167   267,749 —
High Yield Bond Fund, Class R6  9,379,296  2,897,806  (2,385,313)   (78,249)    (51,881)   9,761,659   352,667  — 399,413
International Equity Fund, Class R6  5,806,087 325,957 (4,392,511) 1,545,375 (1,053,848) 2,231,060 75,834 250,123 75,120
International Opportunities Fund, Class R6  3,513,418 522 (3,436,138) 442,206 (504,030) 15,978 522  — 853
International Responsible Index Fund, Class R6  6,990,250 4,201,234 (1,885,525) 292,778 1,339,106 10,937,843 247,955  — 240,445
Liquidity Fund, Institutional Class(1)    289,917 16,711,416 (15,564,506)  —  — 1,436,827 23,507  — 1,436,827
Mortgage Access Fund, Class I 16,551,963 740,335 (1,458,466) (7,017) (307,924) 15,518,891 740,336  — 1,594,953
Short Duration Income Fund, Class R6  3,447,474 32,207 (3,468,037) 40,158 (42,441) 9,361 32,206  — 593
Small/Mid-Cap Fund, Class I  1,190,817 47,246 (106,407) (17,322) 36,290 1,150,624 1,912 45,334 43,159
Small-Cap Fund, Class R6  3,455,709 390,943 (1,660,281) 27,793 (289,160) 1,925,004 14,168 376,775 57,003
Ultra-Short Duration Income Fund, Class R6  1,169,634 1,159,138 (2,325,399) 71,841 (75,214)  — 58,522  — —
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Calvert
Conservative Allocation Fund
June 30, 2026
Schedule of Investments (Unaudited) — continued
Name of
Calvert Fund 		Value,
beginning
of period 		Purchases Sales
proceeds 		Net
realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Value,
end of
period 		Dividend
income 		Capital gains
distributions
received 		Shares,
end of period
US Large-Cap Core Responsible Index Fund, Class R6 $ 22,166,027 $ 1,186,133 $ (4,949,635) $    187,922 $ 1,767,429 $ 20,357,876 $  212,465 $  973,668 323,244
US Large-Cap Growth Responsible Index Fund, Class R6   9,749,439 12,084,891  (3,120,641)     145,164  1,802,811  20,661,664    51,679   251,413 249,477
US Large-Cap Value Responsible Index Fund, Class R6   9,277,145    817,235  (3,150,783)     564,685    507,855   8,016,137   196,756   620,478 194,425
US Mid-Cap Core Responsible Index Fund, Class R6   1,157,973     52,292    (243,306)      69,224    108,193   1,144,376    15,807    36,485 22,050
Total       $4,656,210 $133,350 $219,754,345 $6,261,239 $3,903,152  
    
(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, 2026, based on the inputs used to value them:
Asset Description  Level 1  Level 2  Level 3  Total 
Mutual Funds $218,317,518 $ — $ — $218,317,518
Short-Term Investments 1,436,827  —  — 1,436,827
Total Investments $219,754,345 $ — $ — $219,754,345
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 annual or semi-annual financial statements.
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