NPORT-EX 2 NPORT_8757950773149249.htm HTML

Calvert

Small-Cap Fund

December 31, 2019

Schedule of Investments (Unaudited)

Common Stocks — 99.0%

 

                                                 
Security    Shares      Value  

Aerospace & Defense — 4.1%

      

Hexcel Corp.

      293,597      $ 21,523,596  

Mercury Systems, Inc.(1)

      195,989        13,544,800  
     

 

 

  
      $ 35,068,396  
     

 

 

  

Auto Components — 1.9%

      

Dorman Products, Inc.(1)

      153,655      $ 11,634,757  

Visteon Corp.(1)

      50,741        4,393,663  
     

 

 

  
      $ 16,028,420  
     

 

 

  

Banks — 8.9%

      

City Holding Co.

      85,461      $ 7,003,529  

Columbia Banking System, Inc.

      354,074        14,405,501  

Community Bank System, Inc.

      227,330        16,126,790  

First Citizens BancShares, Inc., Class A

      29,706        15,809,830  

Independent Bank Corp.

      81,497        6,784,625  

Sterling Bancorp

      430,177        9,068,131  

Stock Yards Bancorp, Inc.

      180,745        7,421,390  
     

 

 

  
      $ 76,619,796  
     

 

 

  

Biotechnology — 2.9%

      

Emergent BioSolutions, Inc.(1)

      262,756      $ 14,175,686  

Ligand Pharmaceuticals, Inc.(1)(2)

     104,405        10,888,398  
     

 

 

  
      $ 25,064,084  
     

 

 

  

Building Products — 2.4%

      

CSW Industrials, Inc.

      97,521      $ 7,509,117  

Trex Co., Inc.(1)(2)

      142,921        12,845,739  
     

 

 

  
      $ 20,354,856  
     

 

 

  

Capital Markets — 0.5%

      

Cohen & Steers, Inc.(2)

      68,531      $ 4,301,005  
     

 

 

  

Chemicals — 3.2%

      

Minerals Technologies, Inc.

      308,155      $ 17,758,973  

Sensient Technologies Corp.

      155,213        10,258,027  
     

 

 

  
      $ 28,017,000  
     

 

 

  

Commercial Services & Supplies — 1.2%

      

Viad Corp.

      152,656      $ 10,304,280  
     

 

 

  

Diversified Consumer Services — 2.0%

      

Grand Canyon Education, Inc.(1)

      29,636      $ 2,838,832  

K12, Inc.(1)

      264,650        5,385,628  

ServiceMaster Global Holdings, Inc.(1)

      239,839        9,272,176  
     

 

 

  
      $ 17,496,636  
     

 

 

  

 

1

 

 

                                                 
Security    Shares      Value  

Electric Utilities — 1.1%

      

Portland General Electric Co.

      175,128      $ 9,770,391  
     

 

 

  

Energy Equipment & Services — 1.7%

      

Core Laboratories NV(2)

      83,564      $ 3,147,856  

Oceaneering International, Inc.(1)

      521,902        7,781,559  

US Silica Holdings, Inc.(2)

      540,717        3,325,409  
     

 

 

  
      $ 14,254,824  
     

 

 

  

Equity Real Estate Investment Trusts (REITs) — 8.9%

      

CubeSmart

      360,191      $ 11,338,813  

EastGroup Properties, Inc.

      113,666        15,080,068  

Essential Properties Realty Trust, Inc.(2)

      354,763        8,801,670  

Healthcare Realty Trust, Inc.

      608,128        20,293,232  

Rexford Industrial Realty, Inc.

      359,380        16,412,885  

STORE Capital Corp.

      133,888        4,985,989  
     

 

 

  
      $ 76,912,657  
     

 

 

  

Food & Staples Retailing — 1.3%

      

BJ’s Wholesale Club Holdings, Inc.(1)(2)

      354,376      $ 8,058,510  

Performance Food Group Co.(1)

      60,476        3,113,305  
     

 

 

  
      $ 11,171,815  
     

 

 

  

Food Products — 2.5%

      

Calavo Growers, Inc.

      40,060      $ 3,629,036  

J&J Snack Foods Corp.

      22,915        4,222,547  

Lancaster Colony Corp.

      33,512        5,365,271  

Nomad Foods, Ltd.(1)

      383,019        8,568,135  
     

 

 

  
      $ 21,784,989  
     

 

 

  

Gas Utilities — 2.5%

      

ONE Gas, Inc.

      226,486      $ 21,192,295  
     

 

 

  

Health Care Equipment & Supplies — 6.3%

      

Envista Holdings Corp.(1)

      305,830      $ 9,064,801  

Haemonetics Corp.(1)

      125,089        14,372,726  

ICU Medical, Inc.(1)

      92,697        17,345,463  

Integra LifeSciences Holdings Corp.(1)

      235,876        13,746,853  
     

 

 

  
      $ 54,529,843  
     

 

 

  

Health Care Providers & Services — 7.1%

      

Addus HomeCare Corp.(1)

      146,627      $ 14,255,077  

Amedisys, Inc.(1)

      118,456        19,772,676  

Chemed Corp.

      38,078        16,726,142  

R1 RCM, Inc.(1)

      813,679        10,561,553  
     

 

 

  
      $ 61,315,448  
     

 

 

  

Hotels, Restaurants & Leisure — 2.8%

      

Choice Hotels International, Inc.(2)

      233,637      $ 24,165,075  
     

 

 

  

 

2

 

 

                                                 
Security    Shares      Value  

Insurance — 5.9%

      

AMERISAFE, Inc.

      146,958      $ 9,703,637  

First American Financial Corp.

      120,182        7,009,014  

Horace Mann Educators Corp.

      339,694        14,831,040  

RLI Corp.

      91,662        8,251,413  

Selective Insurance Group, Inc.

      168,335        10,973,759  
     

 

 

  
      $ 50,768,863  
     

 

 

  

IT Services — 1.9%

      

NIC, Inc.

      717,365      $ 16,033,108  
     

 

 

  

Machinery — 6.4%

      

Mueller Water Products, Inc., Class A

      1,792,429      $ 21,473,299  

RBC Bearings, Inc.(1)

      71,232        11,278,875  

Welbilt, Inc.(1)(2)

      344,839        5,382,937  

Woodward, Inc.

      147,401        17,458,174  
     

 

 

  
      $ 55,593,285  
     

 

 

  

Pharmaceuticals — 1.1%

      

Catalent, Inc.(1)

      176,262      $ 9,923,551  
     

 

 

  

Professional Services — 1.6%

      

CBIZ, Inc.(1)

      524,306      $ 14,135,290  
     

 

 

  

Road & Rail — 1.8%

      

Landstar System, Inc.

      133,324      $ 15,181,604  
     

 

 

  

Software — 11.9%

      

ACI Worldwide, Inc.(1)

      703,559      $ 26,654,333  

Altair Engineering, Inc., Class A(1)(2)

      527,662        18,948,342  

CDK Global, Inc.

      290,324        15,874,916  

Envestnet, Inc.(1)

      259,913        18,097,742  

RealPage, Inc.(1)

      438,069        23,546,209  
     

 

 

  
      $ 103,121,542  
     

 

 

  

Specialty Retail — 2.7%

      

Hudson, Ltd., Class A(1)

      258,534      $ 3,965,911  

Monro, Inc.(2)

      46,434        3,631,139  

National Vision Holdings, Inc.(1)

      489,409        15,871,534  
     

 

 

  
      $ 23,468,584  
     

 

 

  

Textiles, Apparel & Luxury Goods — 0.5%

      

Columbia Sportswear Co.(2)

      41,357      $ 4,143,558  
     

 

 

  

Thrifts & Mortgage Finance — 0.9%

      

Essent Group, Ltd.

      156,448      $ 8,133,731  
     

 

 

  

Trading Companies & Distributors — 1.5%

      

Applied Industrial Technologies, Inc.

      194,850      $ 12,994,546  
     

 

 

  

 

3

 

 

                                                 
Security    Shares      Value  

Water Utilities — 1.5%

      

Middlesex Water Co.

      203,570      $ 12,940,945  
     

 

 

  

Total Common Stocks
(identified cost $758,779,807)

       $ 854,790,417  
     

 

 

  
High Social Impact Investments — 0.3%      
Security    Principal
Amount
(000’s omitted)		      Value  

Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/20(3)(4)

    $ 2,516      $ 2,469,769  

ImpactAssets Inc., Global Sustainable Agriculture Notes, 3.39%, 11/3/20(4)(5)

      152        151,625  

ImpactAssets Inc., Microfinance Plus Notes, 1.98%, 11/3/20(4)(5)

      195        192,057  
     

 

 

  

Total High Social Impact Investments
(identified cost $2,862,603)

       $ 2,813,451  
     

 

 

  
Short-Term Investments — 0.3%      
Security    Shares      Value  

State Street Navigator Securities Lending Government Money Market Portfolio, 1.56%(6)

      2,457,018      $ 2,457,018  
     

 

 

  

Total Short-Term Investment
(identified cost $2,457,018)

       $ 2,457,018  
     

 

 

  

Total Investments
(identified cost $764,099,428) — 99.6%

       $ 860,060,886  
     

 

 

  

Other Assets, Less Liabilities — 0.4%

       $ 3,485,371  
     

 

 

  

Net Assets — 100.0%

       $ 863,546,257  
     

 

 

  

The percentage shown for each investment category in the Schedule of Investments is based on net assets.

Notes to Schedule of Investments

 

(1)

Non-income producing security.

 

(2)

All or a portion of this security was on loan at December 31, 2019. The aggregate market value of securities on loan at December 31, 2019 was $81,249,666 and the total market value of the collateral received by the Fund was $83,442,834, comprised of cash of $2,457,018 and U.S. government and/or agencies securities of $80,985,816.

 

(3)

Affiliated company.

 

(4)

Restricted security. Total market value of restricted securities amounts to $2,813,451, which represents 0.3% of the net assets of the Fund as of December 31, 2019.

 

(5)

Notes carry an interest rate that varies by period and is contingent on the performance of the underlying portfolio of loans to borrowers. The coupon rate shown represents the rate in effect at December 31, 2019.

 

(6)

Represents investment of cash collateral received in connection with securities lending.

 

4

 

 

Restricted Securities

 

                                                 

Description

    Acquisition
Dates		      Cost  

Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/20

      12/13/19      $ 2,515,603  

ImpactAssets Inc., Global Sustainable Agriculture Notes, 3.39%, 11/3/20

      11/13/15        152,000  

ImpactAssets Inc., Microfinance Plus Notes, 1.98%, 11/3/20

      11/13/15        195,000  

At December 31, 2019, the value of the Fund’s investment in Calvert Impact Capital, Inc. (the Notes) was $2,469,769, which represents 0.3% of the Fund’s net assets. Transactions in the Notes by the Fund for the fiscal year to date ended December 31, 2019 were as follows:

 

Name of Issuer

   Value,
beginning of
period		     Purchases     Sales
Proceeds		     Net
Realized
Gain
(Loss)		     Change in
Unrealized
Appreciation
(Depreciation)		     Value,
end of period		     Interest
Income		     Capital Gain
Distributions
Received		     Principal,
Amount
end of
period		  

High Social Impact Investments

                  

Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/19(1)

   $   1,394,489     $ —     $   (1,401,905 )    $ —     $ 7,416     $ —     $ 4,089     $ —     $ —  

Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/20(1)

     —         2,515,603       —       —       (45,834 )        2,469,769       1,048       —         2,515,600  
       

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

Totals

         $ —     $ (38,418 )    $ 2,469,769     $ 5,137     $ —    
       

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

(1) 

Restricted security.

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 December 31, 2019, based on the inputs used to value them:

 

Asset Description    Level 1     Level 2      Level 3      Total  

Common Stocks

    $ 854,790,417 (1)    $ —      $ —      $ 854,790,417  

High Social Impact Investments

      —       2,813,451        —        2,813,451  

Short-Term Investments

      2,457,018       —        —        2,457,018  

Total Investments

    $     857,247,435     $     2,813,451      $ —      $     860,060,886  

 

(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 semiannual or annual report to shareholders.

 

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