NPORT-EX 2 NPORT_8210706970405242.htm
Calvert
Global Energy Solutions Fund
December 31, 2020
Schedule of Investments (Unaudited)
Common Stocks — 99.0%
    
Security Shares Value
Australia — 0.5%  
AusNet Services(1)   593,805 $    804,774
      $    804,774
Austria — 0.7%  
Verbund AG   14,040 $  1,192,798
      $  1,192,798
Belgium — 1.2%  
Umicore S.A.   42,236 $  2,030,076
      $  2,030,076
Brazil — 1.1%  
Omega Geracao S.A.(2)   121,300 $946,198
Sao Martinho S.A.   158,852 839,458
      $1,785,656
Canada — 3.8%  
Boralex, Inc., Class A   29,969 $1,112,213
Brookfield Renewable Partners L.P.   26,052 1,124,144
Canadian Solar, Inc.(1)(2)   20,664 1,058,823
Innergex Renewable Energy, Inc.   46,773 1,005,717
Northland Power, Inc.(1)   30,064 1,078,657
TransAlta Renewables, Inc.(1)   62,207 1,063,418
      $6,442,972
China — 5.7%  
BYD Co., Ltd., Class H   42,500 $1,118,950
China Everbright Environment Group, Ltd.   1,611,037 910,035
China Longyuan Power Group Corp., Ltd., Class H   1,095,000 1,101,025
Xinjiang Goldwind Science & Technology Co., Ltd., Class H(1)   936,900 1,887,937
Xinyi Solar Holdings, Ltd.   1,030,000 2,700,873
Yadea Group Holdings, Ltd.(3)   418,000 863,799
Zhuzhou CRRC Times Electric Co., Ltd., Class H   242,100 1,057,887
      $9,640,506
Denmark — 2.5%  
Novozymes A/S, Class B   16,766 $954,990
Orsted A/S(3)   4,526 926,043
ROCKWOOL International A/S, Class B   2,397 897,091
Vestas Wind Systems A/S   6,013 1,420,447
      $4,198,571
Finland — 1.1%  
Metsa Board Oyj   91,607 $964,679
Neste Oyj   12,159 882,789
      $1,847,468
Security Shares Value
France — 4.7%  
Albioma S.A.   15,834 $    905,881
Cie de Saint-Gobain(2)   21,608     993,803
Danone S.A.   12,597     828,960
Engie S.A.(2)   54,850     840,851
Legrand S.A.   12,088   1,081,351
Neoen S.A.(1)(2)(3)   14,841   1,139,551
Nexans S.A.(2)   13,047     944,077
Schneider Electric SE   8,213   1,187,004
      $7,921,478
Germany — 8.2%  
Bayerische Motoren Werke AG   9,351 $825,287
Daimler AG   12,100 857,639
Deutsche Post AG   16,753 829,873
Encavis AG   38,444 1,003,203
Evonik Industries AG   29,368 959,879
Infineon Technologies AG   63,734 2,433,913
Nordex SE(2)   65,525 1,791,524
OSRAM Licht AG(2)   12,380 786,515
Siemens AG   8,778 1,264,439
Siemens Energy AG(2)   37,116 1,370,410
SMA Solar Technology AG(2)   24,995 1,717,575
      $13,840,257
Greece — 0.5%  
Terna Energy S.A.   48,988 $790,132
      $790,132
Ireland — 1.0%  
CRH PLC   20,699 $874,616
Kingspan Group PLC(2)   10,944 766,375
      $1,640,991
Italy — 2.9%  
Enel SpA   131,952 $1,342,576
ERG SpA   35,118 1,008,986
Falck Renewables SpA   117,789 954,771
Snam SpA   144,270 814,778
Terna Rete Elettrica Nazionale SpA   108,180 831,275
      $4,952,386
Japan — 7.6%  
Daikin Industries, Ltd.   4,900 $1,090,089
Ferrotec Holdings Corp.   106,900 1,824,523
GS Yuasa Corp.   63,500 1,827,401
Hitachi Metals, Ltd.(1)   55,200 839,257
Meidensha Corp.   76,000 1,713,707
Mitsubishi Electric Corp.   70,700 1,068,535
 
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Calvert
Global Energy Solutions Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Shares Value
Japan (continued)  
Nidec Corp.   6,400 $    809,651
Nippon Express Co., Ltd.   12,400     834,107
Nissan Motor Co., Ltd.(2)   174,500     945,861
Sumitomo Chemical Co., Ltd.   233,000     939,171
Yokogawa Electric Corp.   47,900     955,374
      $ 12,847,676
Netherlands — 0.5%  
Signify NV(2)(3)   20,767 $    871,927
      $871,927
New Zealand — 2.0%  
Infratil, Ltd.   222,627 $1,170,614
Mercury NZ, Ltd.   220,207 1,036,333
Meridian Energy, Ltd.   222,905 1,193,791
      $3,400,738
Norway — 1.3%  
Norsk Hydro ASA   200,963 $935,297
Scatec ASA(3)   30,296 1,206,519
      $2,141,816
Portugal — 0.7%  
EDP Renovaveis S.A.   44,984 $1,245,981
      $1,245,981
Singapore — 1.0%  
City Developments, Ltd.   139,400 $840,324
Maxeon Solar Technologies, Ltd.(1)(2)   28,045 795,637
      $1,635,961
South Korea — 2.1%  
Ecopro BM Co., Ltd.   11,066 $1,737,275
LG Chem, Ltd.   1,142 868,395
LG Display Co., Ltd.(2)   59,795 1,022,082
      $3,627,752
Spain — 4.0%  
Acciona S.A.   7,296 $1,043,999
Atlantica Sustainable Infrastructure PLC   25,981 986,758
Ence Energia y Celulosa S.A.(2)   205,941 853,656
Iberdrola S.A.   59,284 851,928
Red Electrica Corp. S.A.   39,597 812,969
Siemens Gamesa Renewable Energy S.A.(1)   29,254 1,187,897
Solaria Energia y Medio Ambiente S.A.(2)   37,406 1,086,240
      $6,823,447
Security Shares Value
Sweden — 1.1%  
Fabege AB   51,930 $    820,441
Nibe Industrier AB, Class B(2)   33,759   1,107,085
      $  1,927,526
Switzerland — 2.1%  
ABB, Ltd.   41,702 $  1,169,707
Gurit Holding AG   570   1,605,728
Landis+Gyr Group AG   10,478     823,154
      $  3,598,589
Taiwan — 6.9%  
Chroma ATE, Inc.   157,000 $941,143
Delta Electronics, Inc.   255,000 2,391,374
Epistar Corp.(2)   1,141,000 1,724,185
Everlight Electronics Co., Ltd.   1,016,000 1,530,036
OptoTech Corp.(2)   1,330,200 1,305,517
Simplo Technology Co., Ltd.   136,000 1,698,108
Sino-American Silicon Products, Inc.   325,000 2,057,997
      $11,648,360
Thailand — 1.3%  
BCPG PCL   1,385,337 $656,240
CK Power PCL(2)   3,842,600 570,091
Energy Absolute PCL NVDR   630,500 1,031,552
      $2,257,883
United Kingdom — 3.7%  
Croda International PLC   10,207 $917,915
easyJet PLC   75,995 862,489
John Laing Group PLC(3)   192,142 874,049
Johnson Matthey PLC   29,816 987,824
Linde PLC   3,165 834,009
Smart Metering Systems PLC   96,131 933,725
United Utilities Group PLC   67,518 825,810
      $6,235,821
United States — 30.8%  
3M Co.   4,699 $821,338
AAON, Inc.   12,216 813,952
Acuity Brands, Inc.   7,250 877,903
AES Corp. (The)   40,361 948,484
Alaska Air Group, Inc.   16,039 834,028
Alphabet, Inc., Class A(2)   463 811,472
Ameresco, Inc., Class A(2)   15,861 828,579
American Superconductor Corp.(2)   41,091 962,351
Aptiv PLC   8,998 1,172,349
BorgWarner, Inc.   23,908 923,805
Brookfield Renewable Corp., Class A   20,210 1,177,637
 
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Calvert
Global Energy Solutions Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Security Shares Value
United States (continued)  
Clearway Energy, Inc., Class C   32,372 $  1,033,638
Covanta Holding Corp.   68,532     899,825
Cree, Inc.(2)   10,324   1,093,312
Cummins, Inc.   3,511     797,348
Eaton Corp. PLC   9,110   1,094,475
Emerson Electric Co.   14,279   1,147,603
EnerSys   21,132   1,755,224
Enphase Energy, Inc.(1)(2)   7,303   1,281,457
Enviva Partners L.P.   18,204 826,826
First Solar, Inc.(2)   20,546 2,032,410
General Mills, Inc.   13,345 784,686
Gibraltar Industries, Inc.(2)   12,028 865,294
Hannon Armstrong Sustainable Infrastructure Capital, Inc.(1)   14,946 948,025
Ingersoll Rand, Inc.(2)   22,242 1,013,346
International Business Machines Corp.   6,571 827,157
Itron, Inc.(2)   10,394 996,785
Johnson Controls International PLC   23,192 1,080,515
Livent Corp.(1)(2)   107,829 2,031,498
Microsoft Corp.   3,867 860,098
NextEra Energy Partners, L.P.   15,711 1,053,423
NextEra Energy, Inc.   11,029 850,887
ON Semiconductor Corp.(2)   33,026 1,080,941
Ormat Technologies, Inc.(1)   12,067 1,089,409
Owens Corning   12,614 955,637
Power Integrations, Inc.   24,816 2,031,438
Renewable Energy Group, Inc.(2)   15,706 1,112,299
Rockwell Automation, Inc.   4,133 1,036,598
SolarEdge Technologies, Inc.(2)   7,284 2,324,470
SunPower Corp.(1)(2)   39,425 1,010,857
Sunrun, Inc.(2)   16,878 1,170,996
Tenneco, Inc., Class A(2)   61,609 653,055
Tesla, Inc.(2)   2,357 1,663,264
Trane Technologies PLC   7,274 1,055,894
Universal Display Corp.   8,530 1,960,194
Waste Management, Inc.   6,813 803,457
Whirlpool Corp.   4,171 752,824
      $52,147,063
Total Common Stocks
(identified cost $110,535,925) 		    $167,498,605
    
High Social Impact Investments — 0.2%
    
Security Principal
Amount
(000's omitted) 		Value
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23(4)(5) $       200 $    192,796
ImpactAssets, Inc., Global Sustainable Agriculture Notes, 2.07%, 11/3/22(5)(6)          53      50,728
ImpactAssets, Inc., Microfinance Plus Notes, 0.46%, 11/3/22(5)(6)          68      56,392
Total High Social Impact Investments
(identified cost $321,000) 		    $    299,916
    
Warrants — 0.0%(7)
    
Security Shares Value
Thailand — 0.0%(7)  
BCPG PCL, Exp. 11/13/22(2)      52,656 $     10,809
BCPG PCL, Exp. 11/13/23(2)      52,656      10,897
Total Warrants
(identified cost $0) 		    $     21,706
    
Short-Term Investments — 2.4%
    
Other — 0.5%
Description Units Value
Calvert Cash Reserves Fund, LLC, 0.12%(8)     823,443 $    823,526
Total Other
(identified cost $823,526) 		    $    823,526
    
Securities Lending Collateral — 1.9%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 0.08%(9)   3,236,108 $  3,236,108
Total Securities Lending Collateral
(identified cost $3,236,108) 		    $  3,236,108
Total Short-Term Investments
(identified cost $4,059,634) 		    $  4,059,634
    
Total Investments — 101.6%
(identified cost $114,916,559) 		  $171,879,861
Other Assets, Less Liabilities — (1.6)%   $ (2,664,835)
Net Assets — 100.0%   $169,215,026
    
 
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Calvert
Global Energy Solutions Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
 
(1) All or a portion of this security was on loan at December 31, 2020. The aggregate market value of securities on loan at December 31, 2020 was $10,093,823 and the total market value of the collateral received by the Fund was $10,441,013, comprised of cash of $3,236,108 and U.S. government and/or agencies securities of $7,204,905.
(2) Non-income producing security.
(3) 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, 2020, the aggregate value of these securities is $5,881,888 or 3.5% of the Fund's net assets.
(4) Affiliated company.
(5) Restricted security. Total market value of restricted securities amounts to $299,916, which represents 0.2% of the net assets of the Fund as of December 31, 2020.
(6) 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, 2020.
(7) Amount is less than 0.05%.
(8) Affiliated investment company, available to Calvert portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of December 31, 2020.
(9) Represents investment of cash collateral received in connection with securities lending.
At December 31, 2020, the concentration of the Fund’s investments in the various sectors, determined as a percentage of net assets, was as follows:
Economic Sectors % of Net Assets
Industrials 30.8%
Information Technology 23.9
Utilities 23.6
Materials 9.8
Consumer Discretionary 5.8
Energy 1.7
Consumer Staples 1.4
Real Estate 1.0
Financials 0.5
Communication Services 0.5
High Social Impact Investments 0.2
Total 99.2%
 
Restricted Securities
Description Acquisition Dates Cost
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23 12/14/20 $200,000
ImpactAssets, Inc., Global Sustainable Agriculture Notes, 2.07%, 11/3/22 11/13/15 53,000
ImpactAssets, Inc., Microfinance Plus Notes, 0.46%, 11/3/22 11/13/15 68,000
    
Abbreviations: 
NVDR – Non-Voting Depository Receipt
PCL – Public Company Limited
At December 31, 2020, the value of the Fund's investment in Calvert Impact Capital, Inc. (the Notes) and affiliated funds was $1,016,322, which represents 0.6% of the Fund's net assets. Transactions in the Notes and affiliated funds by the Fund for the fiscal year to date ended December 31, 2020 were as follows:
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Calvert
Global Energy Solutions Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
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/Units,
end of period
High Social Impact Investments                
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/20(1) $262,231 $ — $  (263,568) $ — $ 1,337 $ — $  824 $ —
Calvert Impact Capital, Inc., Community Investment Notes, 1.50%, 12/15/23(1)  —   200,000  —  — (7,204)   192,796   133 200,000
Short-Term Investments                
Calvert Cash Reserves Fund, LLC 258,630 7,755,303 (7,190,407) (12)     12   823,526   191 823,443
Totals       $(12) $(5,855) $1,016,322 $1,148  
    
(1) Restricted security.
    
Asset Description Level 1 Level 2 Level 3 Total
Common Stocks        
Australia $— $804,774 $— $804,774
Austria — 1,192,798 — 1,192,798
Belgium — 2,030,076 — 2,030,076
Brazil — 1,785,656 — 1,785,656
Canada 6,442,972 — — 6,442,972
China — 9,640,506 — 9,640,506
Denmark — 4,198,571 — 4,198,571
Finland — 1,847,468 — 1,847,468
France — 7,921,478 — 7,921,478
Germany — 13,840,257 — 13,840,257
Greece — 790,132 — 790,132
Ireland — 1,640,991 — 1,640,991
Italy — 4,952,386 — 4,952,386
Japan — 12,847,676 — 12,847,676
Netherlands — 871,927 — 871,927
New Zealand — 3,400,738 — 3,400,738
Norway — 2,141,816 — 2,141,816
Portugal — 1,245,981 — 1,245,981
Singapore 795,637 840,324 — 1,635,961
South Korea — 3,627,752 — 3,627,752
Spain 986,758 5,836,689 — 6,823,447
Sweden — 1,927,526 — 1,927,526
Switzerland — 3,598,589 — 3,598,589
Taiwan — 11,648,360 — 11,648,360
Thailand — 2,257,883 — 2,257,883
United Kingdom 834,009 5,401,812 — 6,235,821
United States 52,147,063 — — 52,147,063
Total Common Stocks $61,206,439 $106,292,166(1) $— $167,498,605
High Social Impact Investments $— $299,916 $— $299,916
Warrants 21,706 — — 21,706
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Calvert
Global Energy Solutions Fund
December 31, 2020
Schedule of Investments (Unaudited) — continued
Asset Description Level 1 Level 2 Level 3 Total
Short-Term Investments:        
Other $— $823,526 $— $823,526
Securities Lending Collateral 3,236,108 — — 3,236,108
Total Investments $64,464,253 $107,415,608 $ — $171,879,861
    
(1) Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.
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.
6