Eaton Vance

Tax-Managed Buy-Write Opportunities Fund

September 30, 2021

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 100.0%

Security	Shares		Value
Aerospace & Defense — 0.9%
Boeing Co. (The)(1)(2)		13,686	$	3,010,099
L3Harris Technologies, Inc.(2)		6,224		1,370,774
Northrop Grumman Corp.(2)		17,902		6,447,405
Raytheon Technologies Corp.		25,063		2,154,415
Textron, Inc.(2)		25,000		1,745,250
			$	14,727,943
Airlines — 0.2%
Southwest Airlines Co.(1)(2)		52,956	$	2,723,527
			$	2,723,527
Auto Components — 0.3%
Aptiv PLC(1)(2)		30,791	$	4,586,935
			$	4,586,935
Automobiles — 2.7%
General Motors Co.(1)		20,000	$	1,054,200
Tesla, Inc.(1)(2)		52,816		40,957,752
			$	42,011,952
Banks — 2.8%
Bank of America Corp.(2)		130,000	$	5,518,500
Fifth Third Bancorp(2)		88,466		3,754,497
Huntington Bancshares, Inc.(2)		179,679		2,777,837
JPMorgan Chase & Co.(2)		78,928		12,919,724
KeyCorp(2)		477,924		10,332,717
Regions Financial Corp.(2)		289,924		6,178,281
Truist Financial Corp.(2)		41,626		2,441,365
			$	43,922,921
Beverages — 1.6%
Coca-Cola Co. (The)(2)		153,082	$	8,032,212
Constellation Brands, Inc., Class A		3,691		777,657
PepsiCo, Inc.(2)		103,082		15,504,564
			$	24,314,433
Biotechnology — 2.2%
AbbVie, Inc.(2)		25,216	$	2,720,050
Amgen, Inc.(2)		59,770		12,710,090
Biogen, Inc.(1)(2)		15,031		4,253,623
Gilead Sciences, Inc.(2)		202,361		14,134,916
			$	33,818,679

1

Security	Shares		Value
Building Products — 0.5%
A.O. Smith Corp.(2)		29,207	$	1,783,672
Allegion PLC(2)		10,516		1,390,005
Trane Technologies PLC(2)		23,525		4,061,591
			$	7,235,268
Capital Markets — 2.1%
Charles Schwab Corp. (The)		26,678	$	1,943,225
CME Group, Inc.(2)		12,294		2,377,414
Goldman Sachs Group, Inc. (The)(2)		12,655		4,783,970
Moody’s Corp.(2)		24,502		8,700,905
S&P Global, Inc.(2)		28,313		12,029,911
State Street Corp.(2)		13,478		1,141,856
T. Rowe Price Group, Inc.(2)		13,079		2,572,639
			$	33,549,920
Chemicals — 1.0%
Air Products and Chemicals, Inc.(2)		13,083	$	3,350,687
Corteva, Inc.		20,341		855,949
Dow, Inc.(2)		20,341		1,170,828
DuPont de Nemours, Inc.(2)		20,341		1,382,985
FMC Corp.		8,245		754,912
PPG Industries, Inc.(2)		61,416		8,783,102
			$	16,298,463
Commercial Services & Supplies — 0.4%
Copart, Inc.(1)(2)		40,986	$	5,685,578
Waste Management, Inc.		6,187		924,090
			$	6,609,668
Communications Equipment — 1.3%
Cisco Systems, Inc.(2)		358,876	$	19,533,621
			$	19,533,621
Consumer Finance — 1.0%
American Express Co.(2)		30,565	$	5,120,554
Capital One Financial Corp.		10,757		1,742,311
Discover Financial Services(2)		72,596		8,918,419
			$	15,781,284
Containers & Packaging — 0.1%
WestRock Co.		21,317	$	1,062,226
			$	1,062,226
Distributors — 0.1%
Genuine Parts Co.(2)		9,927	$	1,203,450
			$	1,203,450
Diversified Financial Services — 0.4%
Berkshire Hathaway, Inc., Class B(1)(2)		20,762	$	5,666,780
			$	5,666,780
Diversified Telecommunication Services — 0.6%
Verizon Communications, Inc.(2)		187,280	$	10,114,993
			$	10,114,993
Electric Utilities — 1.1%
Edison International(2)		98,963	$	5,489,478

2

Security	Shares		Value
NextEra Energy, Inc.(2)		80,000	$	6,281,600
NRG Energy, Inc.(2)		116,156		4,742,649
			$	16,513,727
Electrical Equipment — 0.1%
Eaton Corp. PLC		11,000	$	1,642,410
			$	1,642,410
Electronic Equipment, Instruments & Components — 0.2%
Zebra Technologies Corp., Class A(1)(2)		5,499	$	2,834,295
			$	2,834,295
Entertainment — 2.6%
Netflix, Inc.(1)(2)		39,110	$	23,870,398
Walt Disney Co. (The)(1)(2)		100,149		16,942,206
			$	40,812,604
Equity Real Estate Investment Trusts (REITs) — 1.1%
American Tower Corp.(2)		17,730	$	4,705,719
Apartment Income REIT Corp.(2)		34,427		1,680,382
Apartment Investment and Management Co., Class A(2)		34,427		235,825
Digital Realty Trust, Inc.		5,247		757,929
Duke Realty Corp.(2)		20,602		986,218
Iron Mountain, Inc.(2)		30,000		1,303,500
Mid-America Apartment Communities, Inc.(2)		31,281		5,841,727
ProLogis, Inc.(2)		12,000		1,505,160
			$	17,016,460
Food & Staples Retailing — 0.9%
Kroger Co. (The)(2)		103,892	$	4,200,354
Walmart, Inc.(2)		74,524		10,387,155
			$	14,587,509
Food Products — 1.0%
Hershey Co. (The)		5,163	$	873,838
Hormel Foods Corp.(2)		21,160		867,560
Lamb Weston Holdings, Inc.(2)		16,086		987,198
Mondelez International, Inc., Class A(2)		212,633		12,370,988
			$	15,099,584
Health Care Equipment & Supplies — 3.1%
Abbott Laboratories(2)		15,787	$	1,864,918
Baxter International, Inc.(2)		36,672		2,949,529
Danaher Corp.(2)		4,686		1,426,606
Edwards Lifesciences Corp.(1)(2)		66,378		7,514,653
Intuitive Surgical, Inc.(1)(2)		25,537		25,387,609
Stryker Corp.(2)		33,820		8,919,011
			$	48,062,326
Health Care Providers & Services — 1.9%
Cigna Corp.(2)		31,281	$	6,261,205
CVS Health Corp.(2)		52,381		4,445,052
DaVita, Inc.(1)(2)		11,550		1,342,803
McKesson Corp.(2)		7,813		1,557,756
UnitedHealth Group, Inc.(2)		42,638		16,660,372
			$	30,267,188

3

Security	Shares		Value
Hotels, Restaurants & Leisure — 2.1%
Caesars Entertainment, Inc.(1)		6,957	$	781,132
Carnival Corp.(1)		31,864		796,919
Chipotle Mexican Grill, Inc.(1)(2)		3,300		5,997,816
Darden Restaurants, Inc.(2)		21,181		3,208,286
Marriott International, Inc., Class A(1)(2)		75,775		11,221,520
McDonald’s Corp.(2)		35,561		8,574,113
Yum! Brands, Inc.(2)		14,466		1,769,336
			$	32,349,122
Household Durables — 0.2%
PulteGroup, Inc.(2)		26,224	$	1,204,206
Whirlpool Corp.(2)		8,566		1,746,265
			$	2,950,471
Household Products — 0.6%
Clorox Co. (The)(2)		27,426	$	4,542,020
Procter & Gamble Co. (The)(2)		36,664		5,125,627
			$	9,667,647
Industrial Conglomerates — 0.5%
3M Co.(2)		11,474	$	2,012,769
Honeywell International, Inc.(2)		26,647		5,656,625
			$	7,669,394
Insurance — 1.1%
American International Group, Inc.(2)		70,241	$	3,855,528
Chubb, Ltd.(2)		35,393		6,139,978
Marsh & McLennan Cos., Inc.(2)		15,767		2,387,597
Travelers Cos., Inc. (The)(2)		35,246		5,357,744
			$	17,740,847
Interactive Media & Services — 10.4%
Alphabet, Inc., Class A(1)(2)		20,589	$	55,045,103
Alphabet, Inc., Class C(1)(2)		19,192		51,152,630
Facebook, Inc., Class A(1)(2)		165,005		56,001,047
Twitter, Inc.(1)		16,742		1,011,049
			$	163,209,829
Internet & Direct Marketing Retail — 6.2%
Amazon.com, Inc.(1)(2)		29,709	$	97,595,253
			$	97,595,253
IT Services — 3.5%
Cognizant Technology Solutions Corp., Class A(2)		61,346	$	4,552,487
Fidelity National Information Services, Inc.(2)		62,742		7,634,446
Mastercard, Inc., Class A(2)		27,000		9,387,360
PayPal Holdings, Inc.(1)(2)		70,600		18,370,826
Visa, Inc., Class A(2)		63,696		14,188,284
			$	54,133,403
Life Sciences Tools & Services — 1.3%
Agilent Technologies, Inc.(2)		65,000	$	10,239,450
IQVIA Holdings, Inc.(1)		5,328		1,276,269
PerkinElmer, Inc.(2)		23,065		3,996,934
Thermo Fisher Scientific, Inc.(2)		7,871		4,496,938
			$	20,009,591

4

Security	Shares		Value
Machinery — 1.2%
Caterpillar, Inc.		7,735	$	1,484,888
Dover Corp.(2)		27,606		4,292,733
Ingersoll Rand, Inc.(1)(2)		20,758		1,046,411
Parker-Hannifin Corp.(2)		14,287		3,994,931
Stanley Black & Decker, Inc.(2)		46,905		8,222,915
			$	19,041,878
Media — 1.9%
Comcast Corp., Class A(2)		447,547	$	25,031,304
DISH Network Corp., Class A(1)(2)		30,564		1,328,311
ViacomCBS, Inc., Class B(2)		88,076		3,479,883
			$	29,839,498
Metals & Mining — 0.3%
Freeport-McMoRan, Inc.(2)		94,914	$	3,087,552
Newmont Corp.(2)		25,563		1,388,071
			$	4,475,623
Multi-Utilities — 0.8%
CMS Energy Corp.(2)		177,055	$	10,575,495
Dominion Energy, Inc.(2)		36,763		2,684,434
			$	13,259,929
Multiline Retail — 0.1%
Target Corp.(2)		8,193	$	1,874,313
			$	1,874,313
Oil, Gas & Consumable Fuels — 1.8%
Chevron Corp.(2)		52,902	$	5,366,908
Diamondback Energy, Inc.(2)		150,036		14,203,908
Exxon Mobil Corp.		30,000		1,764,600
ONEOK, Inc.		26,014		1,508,552
Phillips 66(2)		57,101		3,998,783
Williams Cos., Inc. (The)		37,548		973,995
			$	27,816,746
Personal Products — 0.6%
Estee Lauder Cos., Inc. (The), Class A(2)		32,008	$	9,600,159
			$	9,600,159
Pharmaceuticals — 2.3%
Bristol-Myers Squibb Co.(2)		122,017	$	7,219,746
Eli Lilly & Co.(2)		12,046		2,783,228
Johnson & Johnson(2)		43,189		6,975,024
Merck & Co., Inc.(2)		111,665		8,387,158
Organon & Co.(2)		11,166		366,133
Pfizer, Inc.(2)		220,239		9,472,479
Viatris, Inc.(2)		30,036		406,988
			$	35,610,756
Professional Services — 0.3%
Equifax, Inc.(2)		14,785	$	3,746,814
Robert Half International, Inc.(2)		12,784		1,282,619
			$	5,029,433

5

Security	Shares		Value
Real Estate Management & Development — 0.1%
CBRE Group, Inc., Class A(1)		14,698	$	1,430,997
			$	1,430,997
Road & Rail — 0.7%
Kansas City Southern(2)		5,885	$	1,592,716
Norfolk Southern Corp.(2)		9,503		2,273,593
Union Pacific Corp.(2)		37,756		7,400,554
			$	11,266,863
Semiconductors & Semiconductor Equipment — 8.5%
Advanced Micro Devices, Inc.(1)(2)		136,255	$	14,020,640
Analog Devices, Inc.(2)		56,522		9,466,305
ASML Holding NV — NY Shares(2)		17,623		13,131,074
Enphase Energy, Inc.(1)(2)		49,540		7,429,514
Intel Corp.(2)		319,158		17,004,738
Microchip Technology, Inc.(2)		53,000		8,134,970
NXP Semiconductors NV(2)		47,520		9,307,742
ON Semiconductor Corp.(1)(2)		99,333		4,546,471
Qorvo, Inc.(1)(2)		15,654		2,617,192
QUALCOMM, Inc.(2)		140,545		18,127,494
Teradyne, Inc.(2)		27,000		2,947,590
Texas Instruments, Inc.(2)		140,016		26,912,475
			$	133,646,205
Software — 13.1%
Adobe, Inc.(1)(2)		42,521	$	24,480,190
Fortinet, Inc.(1)(2)		29,859		8,720,022
Microsoft Corp.(2)		463,980		130,805,242
Oracle Corp.(2)		187,080		16,300,280
Paycom Software, Inc.(1)		4,241		2,102,476
salesforce.com, inc.(1)(2)		62,922		17,065,705
ServiceNow, Inc.(1)		3,002		1,868,055
Zoom Video Communications, Inc., Class A(1)		14,405		3,766,907
			$	205,108,877
Specialty Retail — 1.7%
Advance Auto Parts, Inc.(2)		26,636	$	5,563,994
Best Buy Co., Inc.(2)		28,506		3,013,369
Home Depot, Inc. (The)(2)		53,182		17,457,524
			$	26,034,887
Technology Hardware, Storage & Peripherals — 8.9%
Apple, Inc.(2)		988,519	$	139,875,439
			$	139,875,439
Textiles, Apparel & Luxury Goods — 0.9%
NIKE, Inc., Class B(2)		96,062	$	13,951,084
			$	13,951,084
Tobacco — 0.2%
Altria Group, Inc.(2)		25,875	$	1,177,830
Philip Morris International, Inc.(2)		24,163		2,290,411
			$	3,468,241

6

Security	Shares		Value
Trading Companies & Distributors — 0.5%
Fastenal Co.(2)		158,488	$	8,179,566
			$	8,179,566
Total Common Stocks — 100.0% (identified cost $362,258,702)			$	1,564,834,217
Total Written Call Options — (0.2)% (premiums received $17,930,557)			$	(3,262,508	)
Other Assets, Less Liabilities — 0.2%			$	3,137,558
Net Assets — 100.0%			$	1,564,709,267

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

(1) Non-income producing security.

(2) Security (or a portion thereof) has been pledged as collateral for written options.

Written Call Options — (0.2)%

Exchange-Traded Options — (0.2)%

Description	Number of Contracts		Notional Amount		Exercise Price		Expiration Date		Value
NASDAQ 100 Index		33	$	48,475,746	$	15,750		10/1/21	$	(5,115	)
NASDAQ 100 Index		33		48,475,746		15,800		10/4/21		(2,062	)
NASDAQ 100 Index		33		48,475,746		15,800		10/6/21		(4,785	)
NASDAQ 100 Index		33		48,475,746		15,825		10/8/21		(8,333	)
NASDAQ 100 Index		33		48,475,746		15,600		10/11/21		(18,480	)
NASDAQ 100 Index		34		49,944,708		15,500		10/13/21		(40,120	)
NASDAQ 100 Index		34		49,944,708		15,525		10/15/21		(43,860	)
NASDAQ 100 Index		34		49,944,708		15,300		10/18/21		(154,530	)
NASDAQ 100 Index		33		48,475,746		15,300		10/20/21		(191,565	)
NASDAQ 100 Index		34		49,944,708		15,400		10/22/21		(164,900	)
NASDAQ 100 Index		34		49,944,708		15,300		10/25/21		(268,430	)
NASDAQ 100 Index		34		49,944,708		15,100		10/27/21		(568,310	)
S&P 500 Index		170		73,228,180		4,560		10/1/21		(850	)
S&P 500 Index		170		73,228,180		4,550		10/4/21		(2,550	)
S&P 500 Index		171		73,658,934		4,550		10/6/21		(4,703	)
S&P 500 Index		170		73,228,180		4,535		10/8/21		(11,475	)
S&P 500 Index		170		73,228,180		4,510		10/11/21		(21,250	)
S&P 500 Index		172		74,089,688		4,480		10/13/21		(61,920	)
S&P 500 Index		173		74,520,442		4,490		10/15/21		(67,470	)
S&P 500 Index		175		75,381,950		4,410		10/18/21		(402,500	)
S&P 500 Index		172		74,089,688		4,425		10/20/21		(357,760	)
S&P 500 Index		173		74,520,442		4,480		10/22/21		(153,970	)
S&P 500 Index		173		74,520,442		4,475		10/25/21		(193,760	)
S&P 500 Index		173		74,520,442		4,425		10/27/21		(513,810	)
Total									$	(3,262,508	)

7

At September 30, 2021, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.

The Fund is subject to equity price risk in the normal course of pursuing its investment objectives. The Fund writes index call options above the current value of the index to generate premium income. In writing index call options, the Fund in effect, sells potential appreciation in the value of the applicable index above the exercise price in exchange for the option premium received. The Fund retains the risk of loss, minus the premium received, should the value of the underlying index decline.

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.

At September 30, 2021, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:

Asset Description	Level 1			Level 2		Level 3		Total
Common Stocks	$	1,564,834,217	*	$	—	$	—	$	1,564,834,217
Total Investments	$	1,564,834,217		$	—	$	—	$	1,564,834,217
Liability Description
Written Call Options	$	(3,262,508	)	$	—	$	—	$	(3,262,508	)
Total	$	(3,262,508	)	$	—	$	—	$	(3,262,508	)

* 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.

8