NPORT-EX 2 NPORT_D898_36438847_0322.htm
Calvert
VP Nasdaq 100 Index Portfolio
March 31, 2022
Schedule of Investments (Unaudited)
Common Stocks — 97.2%
    
Security Shares Value
Automobiles — 5.1%  
Lucid Group, Inc.(1)      36,228 $    920,191
Tesla, Inc.(1)      13,651  14,710,318
      $ 15,630,509
Beverages — 2.3%  
Keurig Dr Pepper, Inc.      30,978 $  1,174,066
Monster Beverage Corp.(1)      11,560     923,644
PepsiCo, Inc.      30,316   5,074,292
      $  7,172,002
Biotechnology — 3.4%  
Amgen, Inc.   12,206 $2,951,655
Biogen, Inc.(1)   3,209 675,815
Gilead Sciences, Inc.   27,405 1,629,227
Moderna, Inc.(1)   8,858 1,525,879
Regeneron Pharmaceuticals, Inc.(1)   2,338 1,632,906
Seagen, Inc.(1)   3,995 575,480
Vertex Pharmaceuticals, Inc.(1)   5,579 1,455,952
      $10,446,914
Commercial Services & Supplies — 0.5%  
Cintas Corp.   2,273 $966,911
Copart, Inc.(1)   5,182 650,186
      $1,617,097
Communications Equipment — 1.6%  
Cisco Systems, Inc.   91,031 $5,075,889
      $5,075,889
Electric Utilities — 1.1%  
American Electric Power Co., Inc.   11,003 $1,097,770
Constellation Energy Corp.   7,124 400,725
Exelon Corp.   21,373 1,017,996
Xcel Energy, Inc.   11,925 860,627
      $3,377,118
Entertainment — 2.0%  
Activision Blizzard, Inc.   17,016 $1,363,152
Electronic Arts, Inc.   6,179 781,705
NetEase, Inc. ADR   4,590 411,677
Netflix, Inc.(1)   9,729 3,644,386
      $6,200,920
Security Shares Value
Food & Staples Retailing — 2.1%  
Costco Wholesale Corp.       9,717 $  5,595,534
Walgreens Boots Alliance, Inc.      18,911     846,646
      $  6,442,180
Food Products — 1.0%  
Kraft Heinz Co. (The)      26,742 $  1,053,368
Mondelez International, Inc., Class A      30,476   1,913,283
      $  2,966,651
Health Care Equipment & Supplies — 1.7%  
Align Technology, Inc.(1)   1,723 $751,228
DexCom, Inc.(1)   2,117 1,083,057
IDEXX Laboratories, Inc.(1)   1,852 1,013,155
Intuitive Surgical, Inc.(1)   7,839 2,364,870
      $5,212,310
Hotels, Restaurants & Leisure — 2.3%  
Airbnb, Inc.(1)   8,133 $1,396,924
Booking Holdings, Inc.(1)   897 2,106,560
Marriott International, Inc., Class A(1)   7,151 1,256,788
Starbucks Corp.   25,207 2,293,081
      $7,053,353
Industrial Conglomerates — 0.9%  
Honeywell International, Inc.   15,040 $2,926,483
      $2,926,483
Interactive Media & Services — 11.1%  
Alphabet, Inc., Class A(1)   3,972 $11,047,522
Alphabet, Inc., Class C(1)   4,169 11,643,975
Baidu, Inc. ADR(1)   5,303 701,587
Match Group, Inc.(1)   6,249 679,516
Meta Platforms, Inc., Class A(1)   45,668 10,154,737
      $34,227,337
Internet & Direct Marketing Retail — 8.1%  
Amazon.com, Inc.(1)   6,721 $21,910,124
eBay, Inc.   12,875 737,222
JD.com, Inc. ADR(1)   13,070 756,361
MercadoLibre, Inc.(1)   1,102 1,310,807
Pinduoduo, Inc. ADR(1)   9,697 388,947
      $25,103,461
IT Services — 3.1%  
Automatic Data Processing, Inc.   9,206 $2,094,733
Cognizant Technology Solutions Corp., Class A   11,475 1,028,963
 
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Calvert
VP Nasdaq 100 Index Portfolio
March 31, 2022
Schedule of Investments (Unaudited) — continued
Security Shares Value
IT Services (continued)  
Fiserv, Inc.(1)      14,292 $  1,449,209
Okta, Inc.(1)       3,225     486,846
Paychex, Inc.       7,878   1,075,111
PayPal Holdings, Inc.(1)      25,529   2,952,429
VeriSign, Inc.(1)       2,427     539,910
      $  9,627,201
Life Sciences Tools & Services — 0.4%  
Illumina, Inc.(1)       3,440 $  1,201,936
      $1,201,936
Machinery — 0.2%  
PACCAR, Inc.   7,585 $668,011
      $668,011
Media — 2.4%  
Charter Communications, Inc., Class A(1)   3,785 $2,064,793
Comcast Corp., Class A   99,130 4,641,267
Sirius XM Holdings, Inc.   86,748 574,272
      $7,280,332
Multiline Retail — 0.3%  
Dollar Tree, Inc.(1)   4,915 $787,137
      $787,137
Pharmaceuticals — 0.3%  
AstraZeneca PLC   12,501 $829,316
      $829,316
Professional Services — 0.2%  
Verisk Analytics, Inc.   3,521 $755,712
      $755,712
Road & Rail — 0.8%  
CSX Corp.   48,064 $1,799,997
Old Dominion Freight Line, Inc.   2,500 746,700
      $2,546,697
Semiconductors & Semiconductor Equipment — 15.6%  
Advanced Micro Devices, Inc.(1)   35,661 $3,899,174
Analog Devices, Inc.   11,467 1,894,119
Applied Materials, Inc.   19,358 2,551,384
ASML Holding NV-NY Shares   1,817 1,213,629
Broadcom, Inc.   8,976 5,652,008
Intel Corp.   89,230 4,422,239
KLA Corp.   3,313 1,212,757
Security Shares Value
Semiconductors & Semiconductor Equipment (continued)  
Lam Research Corp.       3,057 $  1,643,474
Marvell Technology, Inc.      18,490   1,325,918
Microchip Technology, Inc.      12,122     910,847
Micron Technology, Inc.      24,538   1,911,265
NVIDIA Corp.      46,470  12,679,804
NXP Semiconductors NV       5,753   1,064,765
QUALCOMM, Inc.      24,696   3,774,043
Skyworks Solutions, Inc.       3,613     481,540
Texas Instruments, Inc.   20,238 3,713,268
      $48,350,234
Software — 16.4%  
Adobe, Inc.(1)   10,351 $4,716,123
ANSYS, Inc.(1)   1,906 605,441
Atlassian Corp. PLC, Class A(1)   3,093 908,816
Autodesk, Inc.(1)   4,803 1,029,523
Cadence Design Systems, Inc.(1)   6,055 995,805
CrowdStrike Holdings, Inc., Class A(1)   4,562 1,035,939
Datadog, Inc.(1)   5,791 877,163
DocuSign, Inc.(1)   4,298 460,402
Fortinet, Inc.(1)   3,524 1,204,292
Intuit, Inc.   6,205 2,983,612
Microsoft Corp.   99,019 30,528,548
Palo Alto Networks, Inc.(1)(2)   2,156 1,342,131
Splunk, Inc.(1)   3,496 519,540
Synopsys, Inc.(1)   3,355 1,118,121
Workday, Inc., Class A(1)   4,295 1,028,481
Zoom Video Communications, Inc., Class A(1)   5,292 620,381
Zscaler, Inc.(1)   3,060 738,317
      $50,712,635
Specialty Retail — 0.5%  
O'Reilly Automotive, Inc.(1)   1,459 $999,357
Ross Stores, Inc.   7,764 702,331
      $1,701,688
Technology Hardware, Storage & Peripherals — 12.2%  
Apple, Inc.   215,504 $37,629,153
      $37,629,153
Textiles, Apparel & Luxury Goods — 0.3%  
lululemon Athletica, Inc.(1)   2,722 $994,156
      $994,156
 
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Calvert
VP Nasdaq 100 Index Portfolio
March 31, 2022
Schedule of Investments (Unaudited) — continued
Security Shares Value
Trading Companies & Distributors — 0.2%  
Fastenal Co.      12,566 $    746,420
      $    746,420
Wireless Telecommunication Services — 1.1%  
T-Mobile US, Inc.(1)      27,376 $  3,513,710
      $  3,513,710
Total Common Stocks
(identified cost $89,763,692) 		    $300,796,562
    
Exchange-Traded Funds — 0.9%
    
Security Shares Value
Equity Funds — 0.9%  
Invesco QQQ TM Trust, Series 1(2)       8,000 $  2,900,320
Total Exchange-Traded Funds
(identified cost $2,201,895) 		    $  2,900,320
    
Short-Term Investments — 1.9%      
Affiliated Fund — 1.8%
Description Units Value
Calvert Cash Reserves Fund, LLC, 0.14%(3)   5,448,014 $  5,447,469
Total Affiliated Fund
(identified cost $5,447,618) 		    $  5,447,469
U.S. Treasury Obligations — 0.1%
Security Principal
Amount
(000's omitted) 		Value
U.S. Treasury Bill, 0.00%, 1/26/23(4) $       500 $    494,379
Total U.S. Treasury Obligations
(identified cost $496,904) 		    $    494,379
Total Short-Term Investments
(identified cost $5,944,522) 		    $  5,941,848
Total Investments — 100.0%
(identified cost $97,910,109) 		    $309,638,730
Other Assets, Less Liabilities — (0.0)%(5)     $   (109,975)
Net Assets — 100.0%     $309,528,755
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
(1) Non-income producing security.
(2) All or a portion of this security was on loan at March 31, 2022. The aggregate market value of securities on loan at March 31, 2022 was $4,199,753 and the total market value of the collateral received by the Fund was $4,331,925, comprised of U.S. government and/or agencies securities.
(3) Affiliated investment company, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of March 31, 2022.
(4) Security (or a portion thereof) has been pledged to cover margin requirements on open futures contracts.
(5) Amount is less than (0.05)%.
 
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Calvert
VP Nasdaq 100 Index Portfolio
March 31, 2022
Schedule of Investments (Unaudited) — continued
Futures Contracts
Description Number of
Contracts 		Position Expiration
Date 		Notional
Amount 		Value/
Unrealized
Appreciation
(Depreciation)
Equity Futures          
E-mini NASDAQ-100® Index 17 Long 6/17/22 $5,055,375 $538,220
          $538,220
    
Abbreviations: 
ADR – American Depositary Receipt
At March 31, 2022, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
During the fiscal year to date ended March 31, 2022, the Fund used futures contracts to provide equity market exposure for uncommitted cash balances.
Affiliated Investments
At March 31, 2022, the value of the Fund's investment in affiliated funds was $5,447,469, which represents 1.8% of the Fund's net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended March 31, 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,
end of
period
Short-Term Investments            
Calvert Cash Reserves Fund, LLC $6,793,210 $4,286,020 $(5,631,342) $(188) $(231) $5,447,469 $1,163 5,448,014
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 March 31, 2022, based on the inputs used to value them:
Asset Description  Level 1  Level 2  Level 3  Total 
Common Stocks $300,796,562(1) $ — $ — $300,796,562
Exchange-Traded Funds 2,900,320  —  — 2,900,320
Short-Term Investments:        
Affiliated Fund  — 5,447,469  — 5,447,469
U.S. Treasury Obligations  — 494,379  — 494,379
Total Investments $303,696,882 $5,941,848 $ — $309,638,730
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Calvert
VP Nasdaq 100 Index Portfolio
March 31, 2022
Schedule of Investments (Unaudited) — continued
Asset Description (continued) Level 1  Level 2  Level 3  Total 
Futures Contracts $538,220 $ — $ — $538,220
Total $304,235,102 $5,941,848 $ — $310,176,950
    
(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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