Parametric

Commodity Strategy Fund

September 30, 2021

CONSOLIDATED PORTFOLIO OF INVESTMENTS (Unaudited)

Short-Term Investments — 97.5%
U.S. Treasury Obligations — 90.6%
Security	Principal Amount (000’s omitted)		Value
U.S. Treasury Bill, 0.00%, 10/7/21	$	59,300	$	59,299,679
U.S. Treasury Bill, 0.00%, 11/4/21(1)		46,000		45,996,959
U.S. Treasury Bill, 0.00%, 11/9/21		10,000		9,999,445
U.S. Treasury Bill, 0.00%, 12/2/21		34,200		34,198,125
U.S. Treasury Bill, 0.00%, 12/30/21(1)		62,000		61,994,575
U.S. Treasury Bill, 0.00%, 1/27/22		34,000		33,995,514
U.S. Treasury Bill, 0.00%, 2/24/22		20,000		19,996,350
U.S. Treasury Bill, 0.00%, 7/14/22(1)		118,000		117,939,066
U.S. Treasury Bill, 0.00%, 8/11/22(1)		30,000		29,982,338
U.S. Treasury Inflation-Protected Note, 0.125%, 1/15/22(2)		8,442		8,503,803
U.S. Treasury Inflation-Protected Note, 0.125%, 4/15/22(2)		14,030		14,226,484
U.S. Treasury Inflation-Protected Note, 0.125%, 7/15/22(2)		25,401		26,015,115
U.S. Treasury Note, 0.125%, 5/31/22		10,000		10,003,066
U.S. Treasury Note, 0.125%, 6/30/22		12,000		12,004,198
U.S. Treasury Note, 0.375%, 3/31/22		15,000		15,023,811
U.S. Treasury Note, 1.50%, 1/31/22		40,000		40,193,169
U.S. Treasury Note, 1.50%, 8/15/22		24,000		24,299,182
U.S. Treasury Note, 1.75%, 2/28/22(1)		59,750		60,171,365
U.S. Treasury Note, 1.75%, 3/31/22(1)		80,000		80,677,006
U.S. Treasury Note, 1.75%, 4/30/22		82,000		82,806,391
U.S. Treasury Note, 1.75%, 5/15/22		25,000		25,264,458
U.S. Treasury Note, 1.75%, 5/31/22		47,000		47,526,654
U.S. Treasury Note, 1.75%, 7/15/22		500		506,543
U.S. Treasury Note, 1.875%, 1/31/22		50,000		50,303,608
U.S. Treasury Note, 1.875%, 2/28/22		28,900		29,117,354
U.S. Treasury Note, 1.875%, 3/31/22(1)		29,300		29,563,977
U.S. Treasury Note, 1.875%, 4/30/22		20,000		20,211,525
U.S. Treasury Note, 1.875%, 7/31/22		500		507,482
U.S. Treasury Note, 1.875%, 8/31/22		24,000		24,394,861
U.S. Treasury Note, 2.00%, 12/31/21		10,000		10,048,383
U.S. Treasury Note, 2.125%, 12/31/21		18,000		18,092,652
U.S. Treasury Note, 2.125%, 5/15/22(1)		58,650		59,403,300
U.S. Treasury Note, 2.25%, 4/15/22		29,000		29,342,899
U.S. Treasury Note, 2.375%, 3/15/22		50,000		50,532,402
U.S. Treasury Note, 2.50%, 1/15/22		42,500		42,800,716
Total U.S. Treasury Obligations (identified cost $1,225,026,895)			$	1,224,942,455

1

Affiliated Fund — 6.9%
Description	Units		Value
Eaton Vance Cash Reserves Fund, LLC, 0.05%(3)		93,910,069	$	93,910,069
Total Affiliated Fund (identified cost $93,910,069)			$	93,910,069
Total Short-Term Investments (identified cost $1,318,936,964)			$	1,318,852,524

Total Investments — 97.5% (identified cost $1,318,936,964)	$	1,318,852,524
Other Assets, Less Liabilities — 2.5%	$	33,865,616
Net Assets — 100.0%	$	1,352,718,140

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

(1) Security (or a portion thereof) has been pledged as collateral for open futures contracts.

(2) Inflation-linked security whose principal is adjusted for inflation based on changes in the U.S. Consumer Price Index. Interest is calculated based on the inflation-adjusted principal.

(3) Affiliated investment company, available to Eaton Vance 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 September 30, 2021.

Futures Contracts

Description	Number of Contracts		Position		Expiration Date		Notional Amount		Value/ Unrealized Appreciation (Depreciation)
Commodity Futures
Brent Crude Oil		320		Long		11/30/21	$	24,809,600	$	1,969,686
Cocoa		880		Long		12/15/21		23,337,600		2,616,986
Coffee		663		Long		12/20/21		48,233,250		9,589,691
Copper		441		Long		12/29/21		45,081,225		(1,810,416	)
Corn		1,791		Long		12/14/21		48,065,963		524,696
Cotton No. 2		507		Long		12/8/21		26,820,300		5,085,046
Feeder Cattle		148		Long		1/27/22		11,408,950		(802,910	)
Gold		545		Long		12/29/21		95,756,500		(5,461,996	)
Hard Red Winter Wheat		331		Long		12/14/21		12,110,463		2,275,994
Lean Hogs		793		Long		12/14/21		27,088,880		1,104,792
Live Cattle		914		Long		12/31/21		45,965,060		(2,892,949	)
LME Copper		178		Long		10/18/21		39,785,225		(1,663,143	)
LME Copper		189		Long		11/15/21		42,228,506		(2,417,723	)
LME Copper		196		Long		12/15/21		43,787,625		(2,430,400	)
LME Lead		363		Long		10/18/21		19,134,638		(1,706,100	)
LME Lead		399		Long		11/15/21		20,952,488		(2,722,788	)
LME Lead		444		Long		12/13/21		23,265,600		(2,220,663	)

2

Description	Number of Contracts			Position		Expiration Date		Notional Amount			Value/ Unrealized Appreciation (Depreciation)
LME Nickel		379			Long		10/18/21	$	40,808,067		$	(106,878	)
LME Nickel		392			Long		11/15/21		42,196,056			(3,088,779	)
LME Nickel		431			Long		12/13/21		46,383,789			(4,529,546	)
LME Primary Aluminum		1,406			Long		10/18/21		100,168,713			11,307,713
LME Primary Aluminum		1,377			Long		11/15/21		98,343,619			9,974,819
LME Primary Aluminum		1,401			Long		12/15/21		100,075,181			4,436,119
LME Tin		66			Long		10/18/21		11,556,930			1,105,830
LME Tin		68			Long		11/15/21		11,771,140			30,565
LME Tin		69			Long		12/13/21		11,771,745			367,425
LME Zinc		591			Long		10/18/21		44,018,419			612,453
LME Zinc		611			Long		11/15/21		45,588,238			144,565
LME Zinc		617			Long		12/13/21		46,074,475			(161,963	)
Low Sulphur Gasoil		755			Long		12/10/21		50,660,500			5,015,784
Natural Gas		1,890			Long		12/29/21		114,779,700			53,776,954
NY Harbor ULSD		507			Long		11/30/21		49,655,479			3,937,228
Palladium		131			Long		12/29/21		24,887,380			(7,057,259	)
Platinum		507			Long		1/27/22		24,396,840			(1,366,638	)
RBOB Gasoline		1,067			Long		11/30/21		96,623,465			4,939,203
Robusta Coffee		574			Long		11/24/21		12,203,240			1,946,060
Silver		874			Long		12/29/21		96,345,390			(15,088,957	)
Soybean		732			Long		1/14/22		46,317,300			(1,290,524	)
Soybean Meal		691			Long		1/14/22		22,872,100			(794,256	)
Soybean Oil		1,395			Long		1/14/22		49,006,350			(203,547	)
Sugar No. 11		1,044			Long		2/28/22		23,783,155			1,965,380
Wheat		689			Long		12/14/21		24,993,475			3,026,626
White Sugar		450			Long		11/15/21		11,538,000			128,375
WTI Crude Oil		331			Long		11/19/21		24,725,700			1,967,757
LME Copper		(178	)		Short		10/18/21		(39,785,225	)		2,320,675
LME Copper		(189	)		Short		11/15/21		(42,228,506	)		2,318,794
LME Lead		(363	)		Short		10/18/21		(19,134,638	)		2,500,163
LME Lead		(399	)		Short		11/15/21		(20,952,488	)		2,137,144
LME Nickel		(379	)		Short		10/18/21		(40,808,067	)		2,945,967
LME Nickel		(392	)		Short		11/15/21		(42,196,056	)		4,358,844
LME Primary Aluminum		(1,406	)		Short		10/18/21		(100,168,713	)		(9,938,663	)
LME Primary Aluminum		(1,377	)		Short		11/15/21		(98,343,619	)		(4,535,494	)
LME Primary Aluminum		(65	)		Short		12/15/21		(4,643,031	)		59,313
LME Tin		(66	)		Short		10/18/21		(11,556,930	)		(22,110	)
LME Tin		(68	)		Short		11/15/21		(11,771,140	)		(503,540	)
LME Zinc		(591	)		Short		10/18/21		(44,018,419	)		(99,731	)
LME Zinc		(611	)		Short		11/15/21		(45,588,238	)		171,691
											$	71,745,365

Abbreviations:

LME	-	London Metal Exchange
RBOB	-	Reformulated Blendstock for Oxygenate Blending
ULSD	-	Ultra-Low Sulfur Diesel
WTI	-	West Texas Intermediate

3

Basis for Consolidation

The Fund seeks to gain exposure to the commodity markets, in whole or in part, through investments in PSC Commodity Subsidiary, Ltd. (the Subsidiary), a wholly-owned subsidiary of the Fund organized under the laws of the Cayman Islands with the same objective and investment policies and restrictions as the Fund. The Fund may invest up to 25% of its total assets in the Subsidiary. The net assets of the Subsidiary at September 30, 2021 were $264,258,873 or 19.5% of the Fund’s consolidated net assets. The Consolidated Portfolio of Investments includes positions of the Fund and the Subsidiary.

The Fund is subject to commodity risk in the normal course of pursuing its investment objective. Commodity risk is the risk that the value of a commodity or commodity index will fluctuate based on increases or decreases in the commodities market and factors specific to a particular industry or commodity. The Fund invests primarily in commodities-linked derivative investments, including commodity futures contracts that provide exposure to the investment returns of the commodities markets, without investing directly in physical commodities.

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

At September 30, 2021, the value of the Fund’s investment in affiliated funds was $93,910,069, which represents 6.9% of the Fund’s consolidated net assets. Transactions in affiliated funds by the Fund for the fiscal year to date ended September 30, 2021 were as follows:

Name of affiliated fund	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
Eaton Vance Cash Reserves Fund, LLC	$	77,222,587	$	1,178,992,303	$	(1,162,305,384	)	$	563	$	—	$	93,910,069	$	29,533		93,910,069

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
Short-Term Investments -
U.S. Treasury Obligations	$	—		$	1,224,942,455	$	—	$	1,224,942,455
Affiliated Fund		—			93,910,069		—		93,910,069
Total Investments	$	—		$	1,318,852,524	$	—	$	1,318,852,524
Futures Contracts	$	144,662,338		$	—	$	—	$	144,662,338
Total	$	144,662,338		$	1,318,852,524	$	—	$	1,463,514,862
Liability Description
Futures Contracts	$	(72,916,973	)	$	—	$	—	$	(72,916,973	)
Total	$	(72,916,973	)	$	—	$	—	$	(72,916,973	)

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.

4