Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited)

Asset-Backed Securities — 9.9%
    
Security Principal
Amount*
(000's omitted)
Value
AASET U.S. Ltd., Series 2018-1A, Class C, 6.413%, 1/16/38(1)          554 $       51,379
Avis Budget Rental Car Funding AESOP LLC, Series 2024-3A, Class C, 6.11%, 12/20/30(1)        2,240      2,214,867
Cloud Capital Holdco LP, Series 2024-2A, Class A2, 5.923%, 11/22/49(1)        3,510      3,492,717
Coinstar Funding LLC, Series 2017-1A, Class A2, 5.216%, 4/25/47(1)        2,460      2,215,981
Cologix Canadian Issuer LP, Series 2022-1CAN, Class C, 7.74%, 1/25/52(1) CAD      2,700      1,797,276
Cologix Data Centers U.S. Issuer LLC:      
Series 2021-1A, Class B, 3.79%, 12/26/51(1)        4,000      3,781,549
Series 2021-1A, Class C, 5.99%, 12/26/51(1)   2,900      2,732,114
Conn's Receivables Funding LLC, Series 2023-A, Class B, 10.00%, 1/17/28(1)          753        756,162
DataBank Issuer LLC, Series 2021-2A, Class A2, 2.40%, 10/25/51(1)   1,051 993,921
Diamond Infrastructure Funding LLC, Series 2021-1A, Class C, 3.475%, 4/15/49(1)   757 703,794
Driven Brands Funding LLC:      
Series 2019-1A, Class A2, 4.641%, 4/20/49(1)   1,348 1,337,255
Series 2019-2A, Class A2, 3.981%, 10/20/49(1)   2,369 2,314,189
Goddard Funding LLC, Series 2024-1A, Class A2, 6.834%, 10/30/54(1)   3,287 3,302,192
GoTo Foods Funding LLC, Series 2017-1A, Class A2II, 5.093%, 4/30/47(1)   2,148 2,118,604
Horizon Aircraft Finance IV Ltd., Series 2024-1, Class A, 5.375%, 9/15/49(1)   3,160 3,069,862
Jersey Mike's Funding LLC, Series 2019-1A, Class A2, 4.433%, 2/15/50(1)   1,344 1,328,222
Lunar Aircraft Ltd.:      
Series 2020-1A, Class B, 4.335%, 2/15/45(1)   234 226,898
Series 2020-1A, Class C, 6.413%, 2/15/45(1)   124 117,478
Mosaic Solar Loan Trust:      
Series 2020-1A, Class B, 3.10%, 4/20/46(1)   79 67,396
Series 2022-2A, Class D, 8.29%, 1/21/53(1)   3,583 944,605
Navigator Aviation Ltd.:      
Series 2024-1, Class A, 5.40%, 8/15/49(1)   2,278 2,229,037
Series 2024-1, Class B, 6.09%, 8/15/49(1)   1,392 1,348,089
Neighborly Issuer LLC:      
Series 2021-1A, Class A2, 3.584%, 4/30/51(1)   2,942 2,715,627
Series 2023-1A, Class A2, 7.308%, 1/30/53(1)   850 864,266
NRZ Excess Spread-Collateralized Notes:      
Series 2021-FHT1, Class A, 3.104%, 7/25/26(1)   209 202,136
Series 2021-GNT1, Class A, 3.474%, 11/25/26(1)   1,283 1,229,008
Series 2024-FNT1, Class A, 7.398%, 11/25/31(1)   2,884 2,903,601
Oportun Funding Trust, Series 2024-3, Class B, 5.48%, 8/15/29(1)   1,312 1,312,634
Oportun Issuance Trust, Series 2021-C, Class C, 3.61%, 10/8/31(1)   3,283 3,199,182
Security Principal
Amount*
(000's omitted)
Value
Pagaya AI Debt Selection Trust:      
Series 2021-3, Class C, 3.27%, 5/15/29(1)        2,745 $    2,612,259
Series 2021-5, Class C, 3.93%, 8/15/29(1)   2,935      2,852,264
Planet Fitness Master Issuer LLC:      
Series 2019-1A, Class A2, 3.858%, 12/5/49(1)        2,446      2,255,655
Series 2024-1A, Class A2I, 5.765%, 6/5/54(1)   1,157      1,163,902
Prodigy Finance CM DAC, Series 2021-1A, Class D, 10.352%, (1 mo. SOFR + 6.014%), 7/25/51(1)(2)          563        578,946
Retained Vantage Data Centers Issuer LLC, Series 2023-1A, Class A2B, 5.25%, 9/15/48(1) CAD      3,274      2,263,079
ServiceMaster Funding LLC:      
Series 2020-1, Class A2I, 2.841%, 1/30/51(1)   616 561,977
Series 2020-1, Class A2II, 3.337%, 1/30/51(1)   1,317 1,120,228
SERVPRO Master Issuer LLC, Series 2019-1A, Class A2, 3.882%, 10/25/49(1)   4,665 4,536,821
SolarCity LMC I LLC, Series 2013-1, Class A, 4.80%, 11/20/38(1)   187 182,734
Sonic Capital LLC, Series 2020-1A, Class A2I, 3.845%, 1/20/50(1)   2,859 2,761,719
Subway Funding LLC, Series 2024-3A, Class A2I, 5.246%, 7/30/54(1)   1,946 1,899,355
Sunnova Helios II Issuer LLC, Series 2021-B, Class B, 2.01%, 7/20/48(1)   1,823 1,529,209
Sunnova Helios IV Issuer LLC, Series 2020-AA, Class B, 7.25%, 6/20/47(1)   3,924 3,142,903
Sunnova Helios V Issuer LLC, Series 2021-A, Class B, 3.15%, 2/20/48(1)   1,602 908,342
Sunnova Helios X Issuer LLC, Series 2022-C, Class B, 5.60%, 11/22/49(1)   3,562 3,328,284
Sunnova Sol II Issuer LLC, Series 2020-2A, Class B, 5.47%, 11/1/55(1)   784 583,474
Sunnova Sol Issuer LLC, Series 2020-1A, Class B, 5.54%, 2/1/55(1)   4,000 3,265,184
Sunrun Xanadu Issuer LLC, Series 2019-1A, Class A, 3.98%, 6/30/54(1)   330 310,066
Theorem Funding Trust, Series 2022-2A, Class B, 9.27%, 12/15/28(1)   2,810 2,892,943
Vantage Data Centers LLC, Series 2020-2A, Class A2, 1.992%, 9/15/45(1)   2,545 2,324,573
VB-S1 Issuer LLC, Series 2024-1A, Class F, 8.871%, 5/15/54(1)   1,395 1,450,169
Wendy's Funding LLC, Series 2018-1A, Class A2II, 3.884%, 3/15/48(1)   1,953 1,873,903
Willis Engine Structured Trust V:      
Series 2020-A, Class B, 4.212%, 3/15/45(1)   592 554,078
Series 2020-A, Class C, 6.657%, 3/15/45(1)   206 202,910
Willis Engine Structured Trust VII, Series 2023-A, Class A, 8.00%, 10/15/48(1)   1,262 1,307,784
Total Asset-Backed Securities
(identified cost $102,128,910)
    $96,032,802
    
 
1

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Collateralized Mortgage Obligations — 6.5%
    
Security Principal
Amount
(000's omitted)
Value
Bellemeade Re Ltd., Series 2021-3A, Class M1B, 5.969%, (30-day SOFR Average + 1.40%), 9/25/31(1)(2) $      1,874 $    1,877,954
Center Street Lending Resi-Investor ABS Mortgage Trust, Series 2024-RTL1, Class A1, 6.892% to 5/25/27, 10/25/29(1)(3)        3,770      3,775,136
Champs Trust:      
Series 2024-1, Class A, 8.39%, 7/25/59(1)        2,397      2,481,983
Series 2024-2, Class A, 8.79% to 9/25/27, 11/25/59(1)(3)   1,529      1,593,194
Series 2024-3, Class A, 10.262%, 1/25/60(1)(3)   1,497      1,551,882
Eagle Re Ltd., Series 2021-2, Class M1C, 8.019%, (30-day SOFR Average + 3.45%), 4/25/34(1)(2)        2,646      2,683,869
Federal Home Loan Mortgage Corp.:      
Series 5324, Class MZ, 6.00%, 7/25/53          175        174,048
Series 5413, Class MZ, 6.00%, 5/25/54   1,343 1,335,661
Series 5483, Class FB, 5.999%, (30-day SOFR Average + 1.43%), 12/25/54(2)   5,211 5,219,318
Federal Home Loan Mortgage Corp. STACR REMICS Trust:      
Series 2019-DNA3, Class B2, 12.833%, (30-day SOFR Average + 8.264%), 7/25/49(1)(2)   500 581,638
Series 2020-DNA6, Class B1, 7.569%, (30-day SOFR Average + 3.00%), 12/25/50(1)(2)   900 978,064
Series 2021-DNA2, Class B2, 10.569%, (30-day SOFR Average + 6.00%), 8/25/33(1)(2)   1,959 2,337,243
Federal National Mortgage Association Connecticut Avenue Securities:      
Series 2019-R01, Class 2B1, 9.033%, (30-day SOFR Average + 4.464%), 7/25/31(1)(2)   1,216 1,315,549
Series 2019-R03, Class 1B1, 8.783%, (30-day SOFR Average + 4.214%), 9/25/31(1)(2)   849 904,694
Series 2019-R06, Class 2B1, 8.433%, (30-day SOFR Average + 3.864%), 9/25/39(1)(2)   1,651 1,720,580
Series 2019-R07, Class 1B1, 8.083%, (30-day SOFR Average + 3.514%), 10/25/39(1)(2)   4,145 4,310,831
Series 2020-R02, Class 2B1, 7.683%, (30-day SOFR Average + 3.114%), 1/25/40(1)(2)   1,497 1,539,231
Series 2021-R01, Class 1B2, 10.569%, (30-day SOFR Average + 6.00%), 10/25/41(1)(2)   4,457 4,729,922
Series 2021-R02, Class 2B1, 7.869%, (30-day SOFR Average + 3.30%), 11/25/41(1)(2)   543 562,894
Government National Mortgage Association:      
Series 2023-84, Class DL, 6.00%, 6/20/53   716 726,694
Series 2023-84, Class MW, 6.00%, 6/20/53   751 761,875
Series 2023-98, Class BW, 6.00%, 7/20/53   832 844,324
Series 2023-99, Class AL, 6.00%, 7/20/53   832 844,247
Series 2023-102, Class SG, 5.386%, (22.546% - 30-day SOFR Average x 3.727), 7/20/53(4)   937 922,963
Series 2023-116, Class CY, 6.00%, 8/20/53   1,959 1,939,073
Series 2023-164, Class EL, 6.00%, 11/20/53   970 985,375
Series 2023-173, Class AX, 6.00%, 11/20/53   855 864,753
Series 2024-46, Class AL, 6.00%, 3/20/54   898 907,256
Home Re Ltd., Series 2021-1, Class M2, 7.525%, (30-day SOFR Average + 2.964%), 7/25/33(1)(2)   3,418 3,451,196
Security Principal
Amount
(000's omitted)
Value
LHOME Mortgage Trust:      
Series 2023-RTL2, Class A1, 8.00% to 1/25/26, 6/25/28(1)(5) $      1,050 $    1,063,324
Series 2023-RTL3, Class A1, 8.00% to 3/25/26, 8/25/28(1)(5)   1,080      1,098,965
Series 2023-RTL4, Class A1, 7.628% to 8/25/25, 11/25/28(1)(5)   975        994,324
Series 2024-RTL1, Class A1, 7.017% to 8/25/26, 1/25/29(1)(5)   1,590      1,609,149
NYMT Loan Trust, Series 2024-BPL1, Class A1, 7.154% to 7/25/26, 2/25/29(1)(5)        2,010      2,035,998
PNMAC GMSR Issuer Trust, Series 2024-GT1, Class A, 7.539%, (1 mo. SOFR + 3.20%), 3/25/29(1)(2)        1,615      1,637,518
Triangle Re Ltd., Series 2021-3, Class B1, 9.519%, (30-day SOFR Average + 4.95%), 2/25/34(1)(2)        2,202     2,267,099
Total Collateralized Mortgage Obligations
(identified cost $61,486,933)
    $   62,627,824
    
Commercial Mortgage-Backed Securities — 4.7%
    
Security Principal
Amount*
(000’s omitted)
Value
BAMLL Commercial Mortgage Securities Trust:      
Series 2019-BPR, Class ENM, 3.719%, 11/5/32(1)(3)       11,165 $    5,801,566
Series 2019-BPR, Class FNM, 3.719%, 11/5/32(1)(3)   4,545        956,584
BPR Commercial Mortgage Trust, Series 2024-PARK, Class C, 6.183%, 11/5/39(1)(3)        3,030      3,024,506
BX Commercial Mortgage Trust, Series 2021-VOLT, Class D, 6.162%, (1 mo. SOFR + 1.764%), 9/15/36(1)(2)        5,509      5,499,291
CSMC Trust:      
Series 2021-BPNY, Class A, 8.227%, (1 mo. SOFR + 3.829%), 8/15/26(1)(2)        2,622      2,428,451
Series 2022-CNTR, Class A, 8.342%, (1 mo. SOFR + 3.944%), 1/9/25(1)(2)   1,333      1,008,028
Extended Stay America Trust, Series 2021-ESH, Class D, 6.762%, (1 mo. SOFR + 2.364%), 7/15/38(1)(2)        5,162      5,181,034
Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust:      
Series 2019-01, Class M10, 7.933%, (30-day SOFR Average + 3.364%), 10/25/49(1)(2)   2,392 2,421,567
Series 2020-01, Class M10, 8.433%, (30-day SOFR Average + 3.864%), 3/25/50(1)(2)   3,053 3,110,459
Great Wolf Trust, Series 2024-WLF2, Class D, 7.337%, (1 mo. SOFR + 2.939%), 5/15/41(1)(2)   2,954 2,987,224
HLTN Commercial Mortgage Trust:      
Series 2024-DPLO, Class C, 6.937%, (1 mo. SOFR + 2.54%), 6/15/41(1)(2)   1,085 1,091,577
Series 2024-DPLO, Class D, 7.736%, (1 mo. SOFR + 3.339%), 6/15/41(1)(2)   1,410 1,420,332
JPMorgan Chase Commercial Mortgage Securities Trust:      
Series 2014-DSTY, Class B, 3.771%, 6/10/27(1)   2,485 312,354
Series 2014-DSTY, Class C, 3.805%, 6/10/27(1)(3)   1,120 58,589
 
2

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Security Principal
Amount*
(000’s omitted)
Value
ORL Trust, Series 2024-GLKS, Class F, 8.938%, (1 mo. SOFR + 4.438%), 12/15/39(1)(2)        3,060 $    3,063,741
ROCK Trust, Series 2024-CNTR, Class B, 5.93%, 11/13/41(1)        1,985      1,990,055
TX Trust, Series 2024-HOU, Class E, 8.784%, (1 mo. SOFR + 4.387%), 6/15/39(1)(2)        2,908      2,914,196
U.K. Logistics DAC:      
Series 2024-1A, Class D, 8.727%, (SONIA + 4.00%), 5/17/34(1)(2) GBP      1,300      1,643,108
Series 2024-1A, Class E, 9.727%, (SONIA + 5.00%), 5/17/34(1)(2) GBP 650       820,512
Total Commercial Mortgage-Backed Securities
(identified cost $57,037,888)
    $   45,733,174
    
Common Stocks — 0.2%
    
Security Shares Value
Energy — 0.2%  
Enviva LLC(6)(7)       94,230 $    1,649,072
Total Common Stocks
(identified cost $665,264)
    $    1,649,072
    
Corporate Bonds — 56.5%
    
Security Principal
Amount*
(000’s omitted)
Value
Basic Materials — 1.3%  
Celanese U.S. Holdings LLC:      
6.05%, 3/15/25        2,500 $    2,502,008
6.60%, 11/15/28   4,101      4,202,774
Compass Minerals International, Inc., 6.75%, 12/1/27(1)(8)        1,576      1,554,059
Olympus Water U.S. Holding Corp., 9.75%, 11/15/28(1)        2,080      2,209,514
South32 Treasury Ltd., 4.35%, 4/14/32(1)        2,596     2,380,295
      $   12,848,650
Communications — 2.8%  
Arches Buyer, Inc., 4.25%, 6/1/28(1)   2,000 $1,839,051
Charter Communications Operating LLC/Charter Communications Operating Capital:      
4.80%, 3/1/50   8,895 6,690,950
4.908%, 7/23/25   2,677 2,674,755
Clear Channel Outdoor Holdings, Inc., 7.875%, 4/1/30(1)(8)   1,905 1,962,889
McGraw-Hill Education, Inc., 8.00%, 8/1/29(1)(8)   2,000 2,002,502
SES GLOBAL Americas Holdings, Inc., 5.30%, 3/25/44(1)   1,378 1,003,747
SES SA, 5.30%, 4/4/43(1)   820 599,561
Sprint LLC, 7.625%, 3/1/26   3,000 3,068,610
Stagwell Global LLC, 5.625%, 8/15/29(1)   2,500 2,383,223
Videotron Ltd., 3.625%, 6/15/29(1)(8)   3,200 2,982,001
Zegona Finance PLC, 8.625%, 7/15/29(1)   2,000 2,127,533
      $27,334,822
Security Principal
Amount*
(000’s omitted)
Value
Consumer, Cyclical — 6.6%  
American Airlines, Inc./AAdvantage Loyalty IP Ltd., 5.50%, 4/20/26(1)        1,625 $    1,621,031
AS Mileage Plan IP Ltd.:      
5.021%, 10/20/29(1)        1,855      1,808,780
5.308%, 10/20/31(1)   3,150      3,077,486
Brunswick Corp., 5.85%, 3/18/29(8)        2,961      3,008,703
Delta Air Lines, Inc./SkyMiles IP Ltd.:      
4.50%, 10/20/25(1)        2,351      2,337,504
4.75%, 10/20/28(1)   4,800      4,737,255
Ferrellgas LP/Ferrellgas Finance Corp., 5.875%, 4/1/29(1)   2,097 1,918,562
Ford Motor Co.:      
3.25%, 2/12/32   3,029 2,520,024
4.75%, 1/15/43   2,483 1,959,746
Ford Motor Credit Co. LLC:      
5.125%, 6/16/25   6,700 6,697,695
7.122%, 11/7/33   615 642,178
7.20%, 6/10/30   1,083 1,140,684
7.35%, 3/6/30   2,367 2,507,597
General Motors Co., 5.15%, 4/1/38   3,000 2,763,096
General Motors Financial Co., Inc.:      
5.95%, 4/4/34   1,851 1,861,602
6.05%, 10/10/25   4,000 4,035,618
Hyatt Hotels Corp., 5.375%, 4/23/25   4,000 4,002,847
Hyundai Capital America:      
5.30%, 6/24/29(1)   2,311 2,319,196
5.80%, 6/26/25(1)   3,000 3,011,382
Lithia Motors, Inc., 4.375%, 1/15/31(1)   2,274 2,070,140
PetSmart, Inc./PetSmart Finance Corp., 4.75%, 2/15/28(1)   3,129 2,955,827
Sonic Automotive, Inc., 4.625%, 11/15/29(1)(8)   2,535 2,342,744
WarnerMedia Holdings, Inc., 4.279%, 3/15/32(8)   5,468 4,819,889
      $64,159,586
Consumer, Non-cyclical — 3.1%  
AbbVie, Inc., 5.50%, 3/15/64   2,055 $1,963,956
Ashtead Capital, Inc., 4.25%, 11/1/29(1)   2,566 2,434,353
Bristol-Myers Squibb Co., 5.65%, 2/22/64   3,751 3,613,400
Centene Corp.:      
2.50%, 3/1/31   3,676 3,042,906
2.625%, 8/1/31   340 280,215
3.375%, 2/15/30   1,171 1,043,718
4.25%, 12/15/27   1,068 1,035,371
CVS Pass-Through Trust, 6.036%, 12/10/28   1,134 1,140,192
Fortrea Holdings, Inc., 7.50%, 7/1/30(1)(8)   2,000 2,005,818
ICON Investments Six DAC, 5.809%, 5/8/27   2,050 2,085,142
Kroger Co., 5.00%, 9/15/34   1,246 1,207,471
LifePoint Health, Inc.:      
9.875%, 8/15/30(1)   850 918,176
10.00%, 6/1/32(1)   1,675 1,705,145
 
3

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Security Principal
Amount*
(000’s omitted)
Value
Consumer, Non-cyclical (continued)  
Smithfield Foods, Inc.:      
2.625%, 9/13/31(1)        2,227 $    1,837,996
3.00%, 10/15/30(1)   238        206,099
5.20%, 4/1/29(1)   3,181      3,117,335
WASH Multifamily Acquisition, Inc., 5.75%, 4/15/26(1)(8)        2,250     2,243,144
      $   29,880,437
Diversified — 0.3%  
Inversiones La Construccion SA, 4.75%, 2/7/32(9)        2,962 $    2,695,420
      $2,695,420
Energy — 0.5%  
Raizen Fuels Finance SA:      
5.70%, 1/17/35(1)   530 $491,045
6.45%, 3/5/34(1)   937 926,965
6.95%, 3/5/54(1)   607 599,183
TerraForm Power Operating LLC, 4.75%, 1/15/30(1)   2,793 2,584,149
      $4,601,342
Financial — 33.6%  
ABN AMRO Bank NV, 4.988% to 12/3/27, 12/3/28(1)(10)   1,600 $1,597,211
AIB Group PLC, 5.871% to 3/28/34, 3/28/35(1)(10)   1,206 1,208,848
Aircastle Ltd./Aircastle Ireland DAC, 5.75%, 10/1/31(1)   5,806 5,847,982
Alliant Holdings Intermediate LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(1)   2,800 2,779,672
Ally Financial, Inc.:      
4.70% to 5/15/26(10)(11)   7,620 7,134,535
5.543% to 1/17/30, 1/17/31(10)   1,116 1,100,699
6.848% to 1/3/29, 1/3/30(10)   2,790 2,893,529
6.992% to 6/13/28, 6/13/29(10)   130 135,481
American Assets Trust LP, 3.375%, 2/1/31   4,214 3,668,272
American National Group, Inc.:      
5.75%, 10/1/29   1,815 1,818,474
6.144%, 6/13/32(1)(8)   2,600 2,560,296
Antares Holdings LP:      
6.35%, 10/23/29(1)   625 620,412
6.50%, 2/8/29(1)   1,465 1,464,621
Apollo Debt Solutions BDC, 6.70%, 7/29/31(1)   3,879 3,985,470
ASR Nederland NV, 7.00% to 9/7/33, 12/7/43(9)(10) EUR 1,945 2,394,732
Athene Global Funding:      
5.583%, 1/9/29(1)(8)   2,053 2,077,366
5.62%, 5/8/26(1)   4,000 4,038,150
Banco Mercantil del Norte SA, 8.375% to 5/20/31(1)(10)(11)   3,291 3,287,500
Banco Santander SA:      
1.722% to 9/14/26, 9/14/27(10)   1,800 1,702,573
3.80%, 2/23/28   2,460 2,361,226
6.35%, 3/14/34   4,400 4,463,802
9.625% to 11/21/28(10)(11)   2,000 2,202,436
Security Principal
Amount*
(000’s omitted)
Value
Financial (continued)  
Bank of America Corp.:      
5.468% to 1/23/34, 1/23/35(10)       13,953 $   13,974,586
5.933% to 9/15/26, 9/15/27(10)   4,570      4,652,560
Bank of Nova Scotia, 8.00% to 1/27/29, 1/27/84(10)        3,140      3,311,965
BBVA Bancomer SA:      
5.125% to 1/18/28, 1/18/33(1)(8)(10)        4,897      4,558,943
8.125% to 1/8/34, 1/8/39(1)(8)(10)   2,637      2,692,090
8.45% to 6/29/33, 6/29/38(1)(10)   1,577      1,634,408
Blackstone Private Credit Fund:      
4.70%, 3/24/25   2,500 2,496,540
6.25%, 1/25/31   1,445 1,470,006
Blue Owl Credit Income Corp., 6.65%, 3/15/31(8)   3,020 3,075,285
BNP Paribas SA:      
7.75% to 8/16/29(1)(10)(11)   1,714 1,756,464
8.00% to 8/22/31(1)(10)(11)   1,340 1,381,645
9.25% to 11/17/27(1)(10)(11)   1,314 1,405,726
BPCE SA, 5.716% to 1/18/29, 1/18/30(1)(10)   2,852 2,867,836
Broadstone Net Lease LLC, 2.60%, 9/15/31   2,073 1,713,429
Brookfield Finance, Inc., 6.30% to 10/15/34, 1/15/55(10)   3,908 3,831,051
CaixaBank SA:      
6.037% to 6/15/34, 6/15/35(1)(10)   557 562,438
6.84% to 9/13/33, 9/13/34(1)(10)   3,153 3,354,722
Capital One NA, 2.28% to 1/28/25, 1/28/26(10)   3,425 3,417,421
Charles Schwab Corp.:      
4.00% to 6/1/26(10)(11)   1,726 1,671,536
6.136% to 8/24/33, 8/24/34(8)(10)   4,698 4,934,886
CI Financial Corp., 3.20%, 12/17/30   4,513 3,839,397
Citigroup, Inc.:      
3.785% to 3/17/32, 3/17/33(10)   2,336 2,098,145
4.00% to 12/10/25(10)(11)   2,510 2,450,070
COPT Defense Properties LP, 2.90%, 12/1/33   3,595 2,889,843
Credit Agricole SA, 6.251% to 1/10/34, 1/10/35(1)(10)   3,974 3,992,515
Cushman & Wakefield U.S. Borrower LLC, 8.875%, 9/1/31(1)   282 303,798
Enact Holdings, Inc., 6.25%, 5/28/29   5,120 5,220,668
EPR Properties:      
3.60%, 11/15/31   1,155 1,011,101
3.75%, 8/15/29   4,663 4,326,071
4.95%, 4/15/28   2,645 2,602,644
Essent Group Ltd., 6.25%, 7/1/29   4,459 4,555,096
Extra Space Storage LP:      
2.55%, 6/1/31   2,585 2,203,915
5.70%, 4/1/28   2,000 2,042,209
Fifth Third Bancorp, 6.361% to 10/27/27, 10/27/28(10)   3,000 3,102,606
Global Atlantic Fin Co.:      
3.125%, 6/15/31(1)   6,931 5,952,419
6.75%, 3/15/54(1)   4,540 4,613,545
7.95% to 7/15/29, 10/15/54(1)(10)   2,930 3,072,114
HA Sustainable Infrastructure Capital, Inc., 6.375%, 7/1/34(1)   7,969 7,764,895
 
4

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Security Principal
Amount*
(000’s omitted)
Value
Financial (continued)  
HAT Holdings I LLC/HAT Holdings II LLC:      
3.375%, 6/15/26(1)          626 $      607,016
3.75%, 9/15/30(1)(8)   3,415      3,011,804
HSBC Holdings PLC, 7.39% to 11/3/27, 11/3/28(10)        4,008      4,248,793
Huntington Bancshares, Inc., 6.141% to 8/18/34, 11/18/39(10)        2,793      2,791,240
ING Groep NV, 4.625%, 1/6/26(1)        3,775      3,776,956
Intesa Sanpaolo SpA, 8.248% to 11/21/32, 11/21/33(1)(10)        3,523      3,953,788
Jefferies Financial Group, Inc., 6.20%, 4/14/34        4,267      4,399,882
JPMorgan Chase & Co.:      
5.336% to 1/23/34, 1/23/35(10)   8,498 8,447,786
5.581% to 4/22/29, 4/22/30(10)   865 882,346
5.766% to 4/22/34, 4/22/35(10)   916 937,382
6.087% to 10/23/28, 10/23/29(10)   6,557 6,802,506
KeyBank NA, 5.00%, 1/26/33   3,116 2,989,806
KeyCorp, 5.716%, (SOFR + 1.25%), 5/23/25(2)   3,217 3,219,941
Kite Realty Group LP, 5.50%, 3/1/34   1,545 1,537,712
Liberty Mutual Group, Inc., 4.125% to 9/15/26, 12/15/51(1)(10)   6,851 6,523,638
LPL Holdings, Inc.:      
4.00%, 3/15/29(1)   3,221 3,055,441
6.00%, 5/20/34   1,516 1,544,447
Marex Group PLC, 6.404%, 11/4/29   4,050 4,092,877
Nuveen LLC, 5.85%, 4/15/34(1)   2,216 2,243,771
Oaktree Strategic Credit Fund, 8.40%, 11/14/28   3,675 3,938,776
PNC Financial Services Group, Inc.:      
5.401% to 7/23/34, 7/23/35(10)   75 74,455
6.875% to 10/20/33, 10/20/34(10)   575 627,895
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer, Inc., 3.875%, 3/1/31(1)   3,754 3,273,195
Santander Holdings USA, Inc., 5.807% to 9/9/25, 9/9/26(10)   2,000 2,011,296
Societe Generale SA:      
5.634% to 1/19/29, 1/19/30(1)(10)   4,786 4,779,205
8.50% to 3/25/34(1)(10)(11)   2,864 2,864,625
Stifel Financial Corp., 4.00%, 5/15/30   3,254 3,073,639
Synchrony Bank, 5.40%, 8/22/25   3,225 3,229,888
Synchrony Financial, 4.875%, 6/13/25   628 627,537
Synovus Bank/Columbus, GA:      
4.00% to 10/29/25, 10/29/30(10)   2,376 2,320,750
5.625%, 2/15/28   845 846,770
Synovus Financial Corp., 6.168% to 11/1/29, 11/1/30(10)   425 428,371
Texas Capital Bancshares, Inc., 4.00% to 5/6/26, 5/6/31(10)   3,542 3,403,287
Toronto-Dominion Bank, 8.125% to 10/31/27, 10/31/82(10)   6,955 7,266,725
TPG Operating Group II LP, 5.875%, 3/5/34   3,760 3,848,087
U.S. Bancorp:      
5.678% to 1/23/34, 1/23/35(10)   6,378 6,434,501
5.85% to 10/21/32, 10/21/33(10)   1,986 2,030,491
UBS AG, 7.95%, 1/9/25   3,500 3,501,694
UBS Group AG:      
4.253%, 3/23/28(1)   1,685 1,637,900
Security Principal
Amount*
(000’s omitted)
Value
Financial (continued)  
UBS Group AG: (continued)      
4.375% to 2/10/31(1)(10)(11)   3,883 $    3,339,847
9.25% to 11/13/28(1)(10)(11)   3,150      3,413,250
UniCredit SpA:      
5.459% to 6/30/30, 6/30/35(1)(10)        1,295      1,251,734
5.861% to 6/19/27, 6/19/32(1)(10)   3,643      3,650,601
Wells Fargo & Co., 4.54% to 8/15/25, 8/15/26(10)        5,000     4,991,239
      $  324,080,765
Government - Multinational — 0.4%  
International Bank for Reconstruction & Development, 8.50%, 4/6/26 MXN 72,800 $3,404,677
      $3,404,677
Industrial — 1.8%  
AP Moller - Maersk AS, 5.875%, 9/14/33(1)   2,500 $2,557,312
Arrow Electronics, Inc., 5.15%, 8/21/29   2,144 2,136,113
BAE Systems PLC, 5.30%, 3/26/34(1)   3,191 3,183,417
MasTec, Inc., 5.90%, 6/15/29   4,927 5,019,270
Reworld Holding Corp., 4.875%, 12/1/29(1)   1,330 1,231,480
Seaspan Corp., 5.50%, 8/1/29(1)   2,150 2,009,965
Trivium Packaging Finance BV, 5.50%, 8/15/26(1)   1,550 1,533,717
      $17,671,274
Technology — 3.9%  
Broadcom, Inc., 3.137%, 11/15/35(1)   3,740 $3,055,934
Clarivate Science Holdings Corp., 4.875%, 7/1/29(1)   1,700 1,586,612
Cloud Software Group, Inc., 9.00%, 9/30/29(1)   2,325 2,363,464
Concentrix Corp., 6.60%, 8/2/28(8)   5,774 5,918,841
Intel Corp.:      
4.75%, 3/25/50   949 734,456
4.90%, 8/5/52   4,687 3,703,513
Kyndryl Holdings, Inc.:      
3.15%, 10/15/31(8)   2,210 1,917,001
6.35%, 2/20/34(8)   3,135 3,263,230
McAfee Corp., 7.375%, 2/15/30(1)   2,100 2,042,232
Oracle Corp., 2.50%, 4/1/25   4,300 4,275,737
Playtika Holding Corp., 4.25%, 3/15/29(1)   2,610 2,376,057
Qorvo, Inc., 3.375%, 4/1/31(1)   5,050 4,323,263
Seagate HDD Cayman, 9.625%, 12/1/32   1,618 1,825,596
      $37,385,936
Utilities — 2.2%  
Clearway Energy Operating LLC, 3.75%, 1/15/32(1)   1,129 $964,411
Engie SA, 5.625%, 4/10/34(1)   4,150 4,155,999
NextEra Energy Capital Holdings, Inc.:      
1.90%, 6/15/28   8,000 7,245,215
5.25%, 3/15/34   4,000 3,958,822
 
5

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Security Principal
Amount*
(000’s omitted)
Value
Utilities (continued)  
Pattern Energy Operations LP/Pattern Energy Operations, Inc., 4.50%, 8/15/28(1)        1,744 $    1,638,010
Terraform Global Operating LP, 6.125%, 3/1/26(1)        2,795     2,801,696
      $   20,764,153
Total Corporate Bonds
(identified cost $548,801,090)
    $  544,827,062
    
Exchange-Traded Funds — 0.3%
    
Security Shares Value
Fixed-Income Funds — 0.3%  
Calvert Ultra-Short Investment Grade ETF(12)       65,000 $    3,295,825
Total Exchange-Traded Funds
(identified cost $3,304,000)
    $    3,295,825
    
High Social Impact Investments — 0.2%
    
Security Principal
Amount
(000's omitted)
Value
Calvert Impact Capital, Inc., Community Investment Notes, 5.00%, 12/15/28(7)(13) $      1,000 $      988,550
Calvert Impact Capital, Inc., Community Investment Notes, 5.00%, 9/20/29(7)(13)        1,000       985,350
Total High Social Impact Investments
(identified cost $2,000,000)
    $    1,973,900
    
Mutual Funds — 1.6%
    
Security Shares Value
Income Funds — 1.6%  
Calvert Floating-Rate Advantage Fund, Class R6(12)    1,686,261 $   15,125,764
Total Mutual Funds
(identified cost $15,170,663)
    $   15,125,764
    
Preferred Stocks — 0.6%
    
Security Shares Value
Real Estate Management & Development — 0.4%  
Brookfield Property Partners LP:      
Series A, 5.75%       70,736 $      878,541
Series A2, 6.375%   212,000     2,883,200
      $    3,761,741
Security Shares Value
Wireless Telecommunication Services — 0.2%  
U.S. Cellular Corp.:      
5.50%       43,223 $      967,331
6.25%   33,163       766,728
      $    1,734,059
Total Preferred Stocks
(identified cost $9,024,478)
    $    5,495,800
    
Senior Floating-Rate Loans — 4.5%(14)
    
Borrower/Description Principal
Amount
(000's omitted)
Value
Aerospace and Defense — 0.2%  
Dynasty Acquisition Co., Inc.:      
Term Loan, 6.607%, (SOFR + 2.25%), 10/31/31 $      1,449 $    1,457,379
Term Loan, 6.607%, (SOFR + 2.25%), 10/31/31   551       554,341
      $    2,011,720
Construction & Engineering — 0.2%  
APi Group DE, Inc., Term Loan, 6.357%, (SOFR + 2.00%), 1/3/29 $      2,389 $    2,392,741
      $    2,392,741
Diversified Consumer Services — 0.2%  
KUEHG Corp., Term Loan, 7.839%, (SOFR + 3.25%), 6/12/30 $ 2,000 $2,023,040
      $2,023,040
Diversified Telecommunication Services — 0.1%  
Lumen Technologies, Inc.:      
Term Loan, 6.822%, (SOFR + 2.35%), 4/15/29 $ 679 $639,471
Term Loan, 6.822%, (SOFR + 2.35%), 4/15/30   678 633,747
      $1,273,218
Entertainment — 0.3%  
Delta 2 (LUX) SARL:      
Term Loan, 9/30/31(15) $ 1,667 $1,673,125
Term Loan, 9/10/31(15)   833 836,562
      $2,509,687
Environmental Control — 0.2%  
Reworld Holding Corp.:      
Term Loan, 6.697%, (SOFR + 2.25%), 11/30/28 $ 1,849 $1,853,894
Term Loan, 6.697%, (SOFR + 2.25%), 11/30/28   142 142,429
      $1,996,323
Financial Services — 0.3%  
CPI Holdco B LLC, Term Loan, 6.357%, (SOFR + 2.00%), 5/19/31 $ 2,494 $2,491,743
      $2,491,743
 
6

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Borrower/Description Principal
Amount
(000's omitted)
Value
Health Care Equipment & Supplies — 0.2%  
Medline Borrower LP, Term Loan, 6.607%, (SOFR + 2.25%), 10/23/28 $      1,985 $    1,994,275
      $    1,994,275
Health Care Providers & Services — 0.1%  
Raven Acquisition Holdings LLC:      
Term Loan, 1.625%, 11/19/31(16) $        100 $      100,351
Term Loan, 7.607%, (SOFR + 3.25%), 11/19/31   1,400     1,404,907
      $    1,505,258
Insurance — 1.1%  
Alliant Holdings Intermediate LLC, Term Loan, 7.106%, (SOFR + 2.75%), 9/19/31 $ 1,990 $1,997,569
AmWINS Group, Inc., Term Loan, 6.722%, (SOFR + 2.25%), 2/19/28   2,483 2,493,625
HUB International Ltd., Term Loan, 7.367%, (SOFR + 2.75%), 6/20/30   1,985 1,999,555
Ryan Specialty Group LLC, Term Loan, 6.607%, (SOFR + 2.25%), 9/15/31   2,000 2,010,000
USI, Inc., Term Loan, 6.579%, (SOFR + 2.25%), 11/22/29   1,985 1,984,291
      $10,485,040
IT Services — 0.5%  
Informatica LLC, Term Loan, 6.607%, (SOFR + 2.25%), 10/27/28 $ 2,494 $2,509,175
Sedgwick Claims Management Services, Inc., Term Loan, 7.585%, (SOFR + 3.00%), 7/31/31   1,990 2,004,419
      $4,513,594
Machinery — 0.5%  
Gates Global LLC, Term Loan, 6.107%, (SOFR + 1.75%), 6/4/31 $ 2,495 $2,503,271
TK Elevator U.S. Newco, Inc., Term Loan, 8.588%, (SOFR + 3.50%), 4/30/30   1,985 2,001,920
      $4,505,191
Software — 0.1%  
CCC Intelligent Solutions, Inc., Term Loan, 6.722%, (SOFR + 2.25%), 9/21/28 $ 992 $997,909
      $997,909
Specialty Retail — 0.5%  
Belron Finance LLC, Term Loan, 7.273%, (SOFR + 2.75%), 10/16/31 $ 2,494 $2,520,645
Borrower/Description Principal
Amount
(000's omitted)
Value
Specialty Retail (continued)  
Les Schwab Tire Centers, Term Loan, 7.357%, (SOFR + 3.00%), 4/23/31 $      1,990 $    2,002,438
      $    4,523,083
Total Senior Floating-Rate Loans
(identified cost $42,982,916)
    $   43,222,822
    
U.S. Government Agency Mortgage-Backed Securities — 15.6%
    
Security Principal
Amount
(000's omitted)
Value
Federal National Mortgage Association, 5.00%, 1/1/54 $      4,047 $    3,907,920
Uniform Mortgage-Backed Security:      
5.00%, 30-Year, TBA(17)       64,063     61,793,178
5.50%, 30-Year, TBA(17)   76,272     75,232,195
6.00%, 30-Year, TBA(17)   9,395     9,438,305
Total U.S. Government Agency Mortgage-Backed Securities
(identified cost $152,840,506)
  $  150,371,598
    
U.S. Treasury Obligations — 1.2%
    
Security Principal
Amount
(000's omitted)
Value
U.S. Treasury Bonds, 4.625%, 5/15/44 $      4,726 $    4,583,132
U.S. Treasury Notes, 4.50%, 5/31/29        6,948     6,982,829
Total U.S. Treasury Obligations
(identified cost $11,812,584)
    $   11,565,961
    
Miscellaneous — 0.0%
    
Security Principal
Amount
Value
Energy — 0.0%  
Enviva LLC, escrow certificates(6) $  2,538,000 $            0
Total Miscellaneous
(identified cost $0)
    $            0
    
 
7

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Short-Term Investments — 14.6%      
Affiliated Fund — 8.1%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.43%(18)   78,519,347 $   78,519,347
Total Affiliated Fund
(identified cost $78,519,347)
    $   78,519,347
    
Securities Lending Collateral — 2.3%
Security Shares Value
State Street Navigator Securities Lending Government Money Market Portfolio, 4.46%(19)   22,094,155 $   22,094,155
Total Securities Lending Collateral
(identified cost $22,094,155)
    $   22,094,155
U.S. Treasury Obligations — 4.2%
Security Principal
Amount
(000's omitted)
Value
U.S. Treasury Bills, 0.00%, 2/6/25 $     40,377 $   40,211,630
Total U.S. Treasury Obligations
(identified cost $40,198,716)
    $   40,211,630
Total Short-Term Investments
(identified cost $140,812,218)
    $  140,825,132
Total Investments — 116.4%
(identified cost $1,148,067,450)
    $1,122,746,736
Less Unfunded Loan Commitments — (0.0)%(20)     $     (100,000)
    
     
Net Investments — 116.4%
(identified cost $1,147,967,450)
  $1,122,646,736
    
Other Assets, Less Liabilities — (16.4)%     $ (158,054,933)
Net Assets — 100.0%     $  964,591,803
    
The percentage shown for each investment category in the Schedule of Investments is based on net assets.
* In U.S. dollars unless otherwise indicated.
(1) 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, 2024, the aggregate value of these securities is $415,769,329 or 43.1% of the Fund's net assets.
(2) Variable rate security. The stated interest rate represents the rate in effect at December 31, 2024.
(3) Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at December 31, 2024.
(4) Inverse floating-rate security whose coupon varies inversely with changes in the interest rate index. The stated interest rate represents the coupon rate in effect at December 31, 2024.
(5) Step coupon security. Interest rate represents the rate in effect at
December 31, 2024.
(6) Non-income producing security.
(7) Restricted security. Total market value of restricted securities amounts to $3,622,972, which represents 0.4% of the net assets of the Fund as of December 31, 2024.
(8) All or a portion of this security was on loan at December 31, 2024. The aggregate market value of securities on loan at December 31, 2024 was $35,238,848 and the total market value of the collateral received by the Fund was $36,667,826, comprised of cash of $22,094,155 and U.S. government and/or agencies securities of $14,573,671.
(9) Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At December 31, 2024, the aggregate value of these securities is $5,090,152 or 0.5% of the Fund's net assets.
(10) Security converts to variable rate after the indicated fixed-rate coupon period.
(11) Perpetual security with no stated maturity date but may be subject to calls by the issuer.
(12) Affiliated fund.
(13) May be deemed to be an affiliated company.
(14) Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to a base lending rate, plus a spread. These base lending rates are primarily the Secured Overnight Financing Rate (“SOFR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”). Base lending rates may be subject to a floor, or minimum rate. Rates for SOFR are generally 1 or 3-month tenors and may also be subject to a credit spread adjustment. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold.
(15) This Senior Loan will settle after December 31, 2024, at which time the interest rate will be determined.
(16) Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At December 31, 2024, the total value of unfunded loan commitments is $100,351.
(17) TBA (To Be Announced) securities are purchased or sold on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount, which is not expected to differ significantly from the commitment amount, and maturity date are determined upon settlement.
(18) May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of December 31, 2024.
 
8

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

(19) Represents investment of cash collateral received in connection with securities lending.
(20) Amount is less than (0.05)%.
 
Forward Foreign Currency Exchange Contracts (OTC)
Currency Purchased Currency Sold Counterparty Settlement
Date
Unrealized
Appreciation
Unrealized
(Depreciation)
BRL 25,789,444 USD 4,522,536 BNP Paribas 1/17/25 $ — $(359,186)
CAD 17,415 USD 12,619 State Street Bank and Trust Company 1/17/25  — (497)
USD 4,082,316 CAD 5,609,211 Credit Agricole Corporate and Investment Bank 1/17/25 178,017  —
USD 12,520 CAD 17,415 UBS AG 1/17/25 398  —
USD 2,238,198 EUR 2,050,537 JPMorgan Chase Bank, N.A. 1/17/25 112,963  —
USD 2,535,377 GBP 1,950,000 Citibank, N.A. 1/17/25 94,467  —
            $385,845 $(359,683)
Futures Contracts
Description Number of
Contracts
Position Expiration
Date
Notional
Amount
Value/
Unrealized
Appreciation
(Depreciation)
Interest Rate Futures          
U.S. 2-Year Treasury Note 964 Long 3/31/25 $198,207,438 $45,563
U.S. 5-Year Treasury Note 526 Long 3/31/25 55,916,266 (293,756)
U.S. Long Treasury Bond 410 Long 3/20/25 46,675,938 (1,038,991)
U.S. Ultra 10-Year Treasury Note 62 Long 3/20/25 6,901,375 (158,563)
U.S. Ultra-Long Treasury Bond 220 Long 3/20/25 26,159,375 (904,002)
U.S. 10-Year Treasury Note (34) Short 3/20/25 (3,697,500) 33,337
          $(2,316,412)
Restricted Securities
Description Acquisition Dates Cost
Calvert Impact Capital, Inc., Community Investment Notes, 5.00%, 12/15/28 12/15/23 $1,000,000
Calvert Impact Capital, Inc., Community Investment Notes, 5.00%, 9/20/29 9/20/24 1,000,000
Enviva LLC 12/6/24 665,264
    
Abbreviations: 
OTC – Over-the-counter
SOFR – Secured Overnight Financing Rate
SONIA – Sterling Overnight Index Average
STACR – Structured Agency Credit Risk
TBA – To Be Announced
 
9

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

Currency Abbreviations: 
BRL – Brazilian Real
CAD – Canadian Dollar
EUR – Euro
GBP – British Pound Sterling
MXN – Mexican Peso
USD – United States Dollar
In the normal course of pursuing its investment objective, the Fund is subject to the following risks:
Foreign Exchange Risk: During the fiscal year to date ended December 31, 2024, the Fund entered into forward foreign currency exchange contracts to seek to hedge against the decline in the value of currencies in which its portfolio holdings are denominated against the U.S. dollar.
Interest Rate Risk: During the fiscal year to date ended December 31, 2024, the Fund used futures contracts to hedge interest rate risk and to manage duration.
At December 31, 2024, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
Affiliated Investments
At December 31, 2024, the value of the Fund's investment in Calvert Impact Capital, Inc. and in funds that may be deemed to be affiliated was $98,914,836, which represents 10.3% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended December 31, 2024 were as follows:
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/
Shares,
end of period
Exchange-Traded Funds                
Calvert Ultra-Short Investment Grade ETF $ 2,535,000 $    762,750 $  — $ — $ (1,925) $ 3,295,825 $   37,410 65,000
High Social Impact Investments                
Calvert Impact Capital, Inc., Community Investment Notes, 5.00%, 12/15/28(1)  1,013,790   —   —  — (25,240)    988,550    12,500 1,000,000
Calvert Impact Capital, Inc., Community Investment Notes, 5.00%, 9/20/29(1)  1,015,060   —   —  — (29,710)    985,350    12,500 1,000,000
Mutual Funds            
Calvert Floating-Rate Advantage Fund, Class R6 15,092,039   —   —  —  33,725 15,125,764   305,021 1,686,261
Short-Term Investments            
Liquidity Fund, Institutional Class(2) 17,083,242 160,180,860 (98,744,755)  —  — 78,519,347   686,303 78,519,347
Total       $ — $(23,150) $98,914,836 $1,053,734  
    
(1) Restricted security.
(2) Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio.
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.
10

 

Calvert
Income Fund
December 31, 2024
Schedule of Investments (Unaudited) — continued

The following table summarizes the market value of the Fund's holdings as of December 31, 2024, based on the inputs used to value them:
Asset Description Level 1 Level 2 Level 3 Total
Asset-Backed Securities $ — $96,032,802 $ — $96,032,802
Collateralized Mortgage Obligations  — 62,627,824  — 62,627,824
Commercial Mortgage-Backed Securities  — 45,733,174  — 45,733,174
Common Stocks  — 1,649,072  — 1,649,072
Corporate Bonds  — 544,827,062  — 544,827,062
Exchange-Traded Funds 3,295,825  —  — 3,295,825
High Social Impact Investments  — 1,973,900  — 1,973,900
Mutual Funds 15,125,764  —  — 15,125,764
Preferred Stocks 5,495,800  —  — 5,495,800
Senior Floating-Rate Loans (Less Unfunded Loan Commitments)  — 43,122,822  — 43,122,822
U.S. Government Agency Mortgage-Backed Securities  — 150,371,598  — 150,371,598
U.S. Treasury Obligations  — 11,565,961  — 11,565,961
Miscellaneous  —  —  —  —
Short-Term Investments:        
Affiliated Fund 78,519,347  —  — 78,519,347
Securities Lending Collateral 22,094,155  —  — 22,094,155
U.S. Treasury Obligations  — 40,211,630  — 40,211,630
Total Investments $124,530,891 $998,115,845 $ — $1,122,646,736
Forward Foreign Currency Exchange Contracts $ — $385,845 $ — $385,845
Futures Contracts 78,900  —  — 78,900
Total $124,609,791 $998,501,690 $ — $1,123,111,481
Liability Description        
Forward Foreign Currency Exchange Contracts $ — $(359,683) $ — $(359,683)
Futures Contracts (2,395,312)  —  — (2,395,312)
Total $(2,395,312) $(359,683) $ — $(2,754,995)
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 annual or semi-annual financial statements.
11