# EDGAR Filing Document

**Accession Number:** 0000319676
**File Stem:** 0001410368-26-056119
**Filing Date:** 2026-5
**Character Count:** 47055
**Document Hash:** f74f599baa5e6a3cc18cd192a2b16ecc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-056119.hdr.sgml**: 20260529

**ACCESSION NUMBER**: 0001410368-26-056119

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260529

**DATE AS OF CHANGE**: 20260529

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Calvert Management Series
- **CENTRAL INDEX KEY:** 0000319676

**ORGANIZATION NAME:**
- **EIN:** 526211999
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03101
- **FILM NUMBER:** 261041076

**BUSINESS ADDRESS:**
- **STREET 1:** 2050 M STREET NW
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036
- **BUSINESS PHONE:** 8002256265

**MAIL ADDRESS:**
- **STREET 1:** 2050 M STREET NW
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CALVERT TAX FREE RESERVES
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Calvert Small/Mid-Cap Fund (Series ID: S000080181)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000241882 | Calvert Small/Mid-Cap Fund Class I |  |
| C000241883 | Calvert Small/Mid-Cap Fund Class C |  |
| C000241884 | Calvert Small/Mid-Cap Fund Class A |  |

## Nport-Ex

Calvert

Small/Mid-Cap Fund

March 31, 2026

Schedule of Investments (Unaudited)

------

Common Stocks — 99.6%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Aerospace & Defense — 1.2% | Aerospace & Defense — 1.2% |  |
| Hexcel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29996 | $2427576 |
|  |  | **$2427576** |
| Automobile Components — 2.2% | Automobile Components — 2.2% |  |
| Dorman Products, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;41623 | $4343776 |
|  |  | **$4343776** |
| Banks — 10.0% | Banks — 10.0% |  |
| Citizens Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;35661 | $2138590 |
| Commerce Bancshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;40035 | &nbsp;&nbsp; 1969722 |
| Community Financial System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;37188 | &nbsp;&nbsp;&nbsp;&nbsp;2181076 |
| Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;15090 | &nbsp;&nbsp;&nbsp;&nbsp;2068537 |
| First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;41603 | &nbsp;&nbsp;&nbsp;&nbsp;1225208 |
| Huntington Bancshares, Inc. | &nbsp;&nbsp;120984 | &nbsp;&nbsp;&nbsp;&nbsp;1893400 |
| Old National Bancorp | &nbsp;&nbsp;146430 | &nbsp;&nbsp;&nbsp;&nbsp;3236103 |
| SouthState Bank Corp. | &nbsp;&nbsp;&nbsp;&nbsp;40456 | &nbsp;&nbsp;&nbsp;&nbsp;3742989 |
| Webster Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14785 | &nbsp;&nbsp;&nbsp;&nbsp;1026375 |
|  |  | **$19482000** |
| Biotechnology — 1.7% | Biotechnology — 1.7% |  |
| Neurocrine Biosciences, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;24980 | &nbsp;&nbsp;&nbsp;$3290865 |
|  |  | &nbsp;&nbsp;&nbsp;**$3290865** |
| Building Products — 8.9% | Building Products — 8.9% |  |
| A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;&nbsp;59181 | &nbsp;&nbsp;&nbsp;$3902395 |
| Advanced Drainage Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;19080 | &nbsp;&nbsp;&nbsp;&nbsp;2616441 |
| AZZ, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;26564 | &nbsp;&nbsp;&nbsp;&nbsp;3323953 |
| CSW Industrials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;23252 | &nbsp;&nbsp;&nbsp;&nbsp;6059006 |
| Hayward Holdings, Inc.<sup>(1)</sup> | &nbsp;&nbsp;108840 | &nbsp;&nbsp;&nbsp;&nbsp;1456279 |
|  |  | **$17358074** |
| Capital Markets — 2.6% | Capital Markets — 2.6% |  |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6192 | &nbsp;&nbsp;&nbsp;$1862740 |
| Tradeweb Markets, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;27335 | &nbsp;&nbsp;&nbsp;&nbsp;3216236 |
|  |  | &nbsp;&nbsp;&nbsp;**$5078976** |
| Chemicals — 3.2% | Chemicals — 3.2% |  |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;19603 | &nbsp;&nbsp;&nbsp;$3322316 |
| Quaker Chemical Corp. | &nbsp;&nbsp;&nbsp;&nbsp;23934 | &nbsp;&nbsp;&nbsp;&nbsp;2973321 |
|  |  | &nbsp;&nbsp;&nbsp;**$6295637** |
| Construction Materials — 1.0% | Construction Materials — 1.0% |  |
| Knife River Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;23581 | &nbsp;&nbsp;&nbsp;$1925389 |
|  |  | &nbsp;&nbsp;&nbsp;**$1925389** |
| Consumer Staples Distribution & Retail — 2.3% | Consumer Staples Distribution & Retail — 2.3% |  |
| Performance Food Group Co.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;51631 | &nbsp;&nbsp;&nbsp;$4422712 |
|  |  | &nbsp;&nbsp;&nbsp;**$4422712** |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Containers & Packaging — 1.8% | Containers & Packaging — 1.8% |  |
| AptarGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;28099 | $3541036 |
|  |  | **$3541036** |
| Distributors — 0.4% | Distributors — 0.4% |  |
| Pool Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3872 | $783422 |
|  |  | **$783422** |
| Diversified Consumer Services — 1.4% | Diversified Consumer Services — 1.4% |  |
| Bright Horizons Family Solutions, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;32469 | $2666679 |
|  |  | **$2666679** |
| Diversified REITs — 1.2% | Diversified REITs — 1.2% |  |
| Essential Properties Realty Trust, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;75598 | &nbsp;&nbsp;&nbsp;$2295155 |
|  |  | &nbsp;&nbsp;&nbsp;**$2295155** |
| Electric Utilities — 1.0% | Electric Utilities — 1.0% |  |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;13333 | &nbsp;&nbsp;&nbsp;$1906219 |
|  |  | &nbsp;&nbsp;&nbsp;**$1906219** |
| Electronic Equipment, Instruments & Components — 2.9% | Electronic Equipment, Instruments & Components — 2.9% |  |
| Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;18205 | &nbsp;&nbsp;&nbsp;$2773532 |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;14074 | &nbsp;&nbsp;&nbsp;&nbsp;1703235 |
| Ralliant Corp. | &nbsp;&nbsp;&nbsp;&nbsp;25693 | &nbsp;&nbsp;&nbsp;&nbsp;1068572 |
|  |  | &nbsp;&nbsp;&nbsp;**$5545339** |
| Financial Services — 0.4% | Financial Services — 0.4% |  |
| Euronet Worldwide, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;10359 | &nbsp;&nbsp;&nbsp;&nbsp;$687527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$687527** |
| Food Products — 1.8% | Food Products — 1.8% |  |
| Post Holdings, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;35727 | &nbsp;&nbsp;&nbsp;$3531971 |
|  |  | &nbsp;&nbsp;&nbsp;**$3531971** |
| Ground Transportation — 0.7% | Ground Transportation — 0.7% |  |
| Lyft, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;98311 | &nbsp;&nbsp;&nbsp;$1307536 |
|  |  | &nbsp;&nbsp;&nbsp;**$1307536** |
| Health Care Providers & Services — 1.3% | Health Care Providers & Services — 1.3% |  |
| Addus HomeCare Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;19732 | &nbsp;&nbsp;&nbsp;$1847902 |
| Progyny, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;43786 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;743486 |
|  |  | &nbsp;&nbsp;&nbsp;**$2591388** |
| Health Care Technology — 0.4% | Health Care Technology — 0.4% |  |
| HeartFlow, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;29469 | &nbsp;&nbsp;&nbsp;&nbsp;$716981 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$716981** |
| Hotels, Restaurants & Leisure — 5.8% | Hotels, Restaurants & Leisure — 5.8% |  |
| Aramark | &nbsp;&nbsp;110540 | &nbsp;&nbsp;&nbsp;$4481292 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;6179 | &nbsp;&nbsp;&nbsp;&nbsp;2216963 |

---

------

Calvert

Small/Mid-Cap Fund

March 31, 2026

Schedule of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Hotels, Restaurants & Leisure (continued) | Hotels, Restaurants & Leisure (continued) |  |
| Wyndham Hotels & Resorts, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;55964 | $4545956 |
|  |  | **$11244211** |
| Household Durables — 1.0% | Household Durables — 1.0% |  |
| NVR, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280 | $1845152 |
|  |  | **$1845152** |
| Industrial REITs — 2.2% | Industrial REITs — 2.2% |  |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;14279 | $2642900 |
| Rexford Industrial Realty, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;52379 | &nbsp;&nbsp; 1714365 |
|  |  | &nbsp;&nbsp;&nbsp;**$4357265** |
| Insurance — 7.0% | Insurance — 7.0% |  |
| Arch Capital Group Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;12348 | &nbsp;&nbsp;&nbsp;$1185285 |
| Cincinnati Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;21542 | &nbsp;&nbsp;&nbsp;&nbsp;3389634 |
| First American Financial Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37564 | &nbsp;&nbsp;&nbsp;&nbsp;2264734 |
| Hamilton Insurance Group Ltd., Class B | &nbsp;&nbsp;&nbsp;&nbsp;97603 | &nbsp;&nbsp;&nbsp;&nbsp;2911497 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5050 | &nbsp;&nbsp;&nbsp;&nbsp;1725383 |
| Ryan Specialty Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38922 | &nbsp;&nbsp;&nbsp;&nbsp;1313228 |
| White Mountains Insurance Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;749163 |
|  |  | **$13538924** |
| Life Sciences Tools & Services — 1.0% | Life Sciences Tools & Services — 1.0% |  |
| Bio-Techne Corp. | &nbsp;&nbsp;&nbsp;&nbsp;37193 | &nbsp;&nbsp;&nbsp;$1943706 |
|  |  | &nbsp;&nbsp;&nbsp;**$1943706** |
| Machinery — 10.8% | Machinery — 10.8% |  |
| Atmus Filtration Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;38106 | &nbsp;&nbsp;&nbsp;$2163278 |
| Donaldson Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;50421 | &nbsp;&nbsp;&nbsp;&nbsp;4279230 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;9786 | &nbsp;&nbsp;&nbsp;&nbsp;2753487 |
| Franklin Electric Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;47991 | &nbsp;&nbsp;&nbsp;&nbsp;4423330 |
| Graco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;46467 | &nbsp;&nbsp;&nbsp;&nbsp;3933432 |
| Nordson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;12778 | &nbsp;&nbsp;&nbsp;&nbsp;3399715 |
|  |  | **$20952472** |
| Multi-Utilities — 0.9% | Multi-Utilities — 0.9% |  |
| NiSource, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;39352 | &nbsp;&nbsp;&nbsp;$1836164 |
|  |  | &nbsp;&nbsp;&nbsp;**$1836164** |
| Oil, Gas & Consumable Fuels — 1.1% | Oil, Gas & Consumable Fuels — 1.1% |  |
| California Resources Corp. | &nbsp;&nbsp;&nbsp;&nbsp;29954 | &nbsp;&nbsp;&nbsp;$2073416 |
|  |  | &nbsp;&nbsp;&nbsp;**$2073416** |
| Pharmaceuticals — 2.4% | Pharmaceuticals — 2.4% |  |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;&nbsp;96140 | &nbsp;&nbsp;&nbsp;$4611836 |
|  |  | &nbsp;&nbsp;&nbsp;**$4611836** |
| Residential REITs — 1.6% | Residential REITs — 1.6% |  |
| Equity LifeStyle Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;49453 | &nbsp;&nbsp;&nbsp;$3086856 |
|  |  | &nbsp;&nbsp;&nbsp;**$3086856** |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Semiconductors & Semiconductor Equipment — 4.1% | Semiconductors & Semiconductor Equipment — 4.1% |  |
| Allegro MicroSystems, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;71073 | $2240932 |
| Diodes, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;48121 | &nbsp;&nbsp; 3284739 |
| ON Semiconductor Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;39365 | &nbsp;&nbsp; 2437481 |
|  |  | **$7963152** |
| Software — 5.1% | Software — 5.1% |  |
| AppFolio, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5301 | $836604 |
| Bentley Systems, Inc., Class B | &nbsp;&nbsp;&nbsp;&nbsp;55791 | &nbsp;&nbsp; 1959380 |
| CCC Intelligent Solutions Holdings, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;380882 | &nbsp;&nbsp; 2285292 |
| Descartes Systems Group, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;23186 | &nbsp;&nbsp;&nbsp;&nbsp;1659190 |
| Manhattan Associates, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;11760 | &nbsp;&nbsp;&nbsp;&nbsp;1565491 |
| Tyler Technologies, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;4711 | &nbsp;&nbsp;&nbsp;&nbsp;1612952 |
|  |  | &nbsp;&nbsp;&nbsp;**$9918909** |
| Specialized REITs — 1.5% | Specialized REITs — 1.5% |  |
| Lamar Advertising Co., Class A | &nbsp;&nbsp;&nbsp;&nbsp;23547 | &nbsp;&nbsp;&nbsp;$2982463 |
|  |  | &nbsp;&nbsp;&nbsp;**$2982463** |
| Specialty Retail — 4.7% | Specialty Retail — 4.7% |  |
| Burlington Stores, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;15904 | &nbsp;&nbsp;&nbsp;$5174844 |
| Valvoline, Inc.<sup>(1)</sup> | &nbsp;&nbsp;116972 | &nbsp;&nbsp;&nbsp;&nbsp;3939617 |
|  |  | &nbsp;&nbsp;&nbsp;**$9114461** |
| Textiles, Apparel & Luxury Goods — 1.3% | Textiles, Apparel & Luxury Goods — 1.3% |  |
| Steven Madden Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;76697 | &nbsp;&nbsp;&nbsp;$2601562 |
|  |  | &nbsp;&nbsp;&nbsp;**$2601562** |
| Trading Companies & Distributors — 2.7% | Trading Companies & Distributors — 2.7% |  |
| Core & Main, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;73569 | &nbsp;&nbsp;&nbsp;$3634309 |
| EquipmentShare.com, Inc., Class A<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;77752 | &nbsp;&nbsp;&nbsp;&nbsp;1583808 |
|  |  | &nbsp;&nbsp;&nbsp;**$5218117** |
| Total Common Stocks<br> (identified cost $184,362,275) |  | **$193486924** |

---

---

| | | |
|:---|:---|:---|
| Short-Term Investments — 0.6% |  |  |
| **Security** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.57%<sup>(2)</sup> | 1049333 | $1049333 |
| Total Short-Term Investments<br> (identified cost $1,049,333) |  | **$1049333** |
| Total Investments — 100.2%<br> (identified cost $185,411,608) |  | **$194536257** |
| Other Assets, Less Liabilities — (0.2)% |  | **$(313579)** |
| Net Assets — 100.0% |  | **$194222678** |

---

------

Calvert

Small/Mid-Cap Fund

March 31, 2026

Schedule of Investments (Unaudited) — continued

------

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Schedule of Investments is based on net assets. | The percentage shown for each investment category in the Schedule of Investments is based on net assets. |
| <sup>(1)</sup> | Non-income producing security. |
| <sup>(2)</sup> | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of March 31, 2026. |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| REITs | – Real Estate Investment Trusts |

---

The Fund did not have any open derivative instruments at March 31, 2026.

Affiliated Investments

At March 31, 2026, the value of the Fund's investment in funds that may be deemed to be affiliated was $1,049,333, which represents 0.6% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended March 31, 2026 were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Value,<br> beginning<br> of period** | **Purchases** | **Sales<br> proceeds** | **Net<br> realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Value,<br> end of<br> period** | **Dividend<br> income** | **Shares,<br> end of<br> period** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |  |  |  |  |  |  |
| Liquidity Fund, Institutional Class<sup>(1)</sup> | $1274 | $9085283 | $(8037224) | $— | $— | $1049333 | $4421 | 1049333 |

---

<sup>(1)</sup> 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.

The following table summarizes the market value of the Fund's holdings as of March 31, 2026, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Common Stocks | &nbsp;&nbsp;$193486924<sup>(1)</sup> | &nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;$193486924 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049333 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1049333 |
| **Total Investments** | &nbsp;&nbsp;**$194536257** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$194536257** |

---

<sup>(1)</sup> 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 annual or semi-annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Calvert Management Series

- **b. Investment Company Act file number:** 811-03101

- **c. CIK number of Registrant:** 0000319676

- **d. LEI of Registrant:** 549300JLDDCMBLNYVQ38

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2050 M Street NW

  - **City:** Washington

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20036

  - **Telephone number:** 202-238-2200

**Item A.2. Information about the Series.**

- **a. Name of Series:** Calvert Small/Mid-Cap Fund

- **b. EDGAR series identifier (if any):** S000080181

- **c. LEI of Series:** 549300085L1NSA5LCU34

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $194842303.24

**Total Liabilities:** $397530.95

**Net Assets:** $194444772.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241882 | 2.91%                | 1.63%                | -6.81%               |
| Class ID C000241883 | 2.80%                | 1.58%                | -6.87%               |
| Class ID C000241884 | 2.89%                | 1.63%                | -6.80%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-414068.31              | $6531554.74                                |
| Month 2  | $-2225851.19             | $5633579.99                                |
| Month 3  | $-202427.58              | $-14472415.25                              |

### Schedule of Portfolio Investments

| Name                                   | Title                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AZZ Inc                                | AZZ Inc                                                             | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |     26564 | NS      | $3323953.32   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                    | Addus HomeCare Corp                                                 | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |     19732 | NS      | $1847901.80   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc          | Advanced Drainage Systems Inc                                       | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |     19080 | NS      | $2616440.40   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc               | Allegro MicroSystems Inc                                            | CUSIP: 01749D105<br>LEI: 54930004TGPV6DR3LE12 | Long             | EC               | CORP              | US        |     71073 | NS      | $2240931.69   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Appfolio Inc                           | Appfolio Inc                                                        | CUSIP: 03783C100<br>LEI: 529900OOUUGT6JFC0S15 | Long             | EC               | CORP              | US        |      5301 | NS      | $836603.82    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AptarGroup Inc                         | AptarGroup Inc                                                      | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |     28099 | NS      | $3541035.98   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                | Aramark                                                             | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |    110540 | NS      | $4481291.60   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc      | Atmus Filtration Technologies Inc                                   | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38106 | NS      | $2163277.62   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                       | Badger Meter Inc                                                    | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     18205 | NS      | $2773531.75   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                           | Balchem Corp                                                        | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |     19603 | NS      | $3322316.44   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc                    | Bentley Systems Inc                                                 | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     55791 | NS      | $1959379.92   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                        | Bio-Techne Corp                                                     | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     37193 | NS      | $1943706.18   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutions Inc   | Bright Horizons Family Solutions Inc                                | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |     32469 | NS      | $2666678.97   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                  | Burlington Stores Inc                                               | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     15904 | NS      | $5174843.52   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings Inc | CCC Intelligent Solutions Holdings Inc                              | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    380882 | NS      | $2285292.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                            | CDW Corp/DE                                                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     14074 | NS      | $1703235.48   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc                    | CSW Industrials Inc                                                 | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |     23252 | NS      | $6059006.16   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| California Resources Corp              | California Resources Corp                                           | CUSIP: 13057Q305<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | EC               | CORP              | US        |     29954 | NS      | $2073415.88   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corp              | Cincinnati Financial Corp                                           | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |     21542 | NS      | $3389633.70   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc           | Citizens Financial Group Inc                                        | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     35661 | NS      | $2138590.17   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO             | Commerce Bancshares Inc/MO                                          | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40035 | NS      | $1969722.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Financial System Inc         | Community Financial System Inc                                      | CUSIP: 203607106<br>LEI: 5299008N6YHE6GCP1E80 | Long             | EC               | CORP              | US        |     37188 | NS      | $2181076.20   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                        | Core & Main Inc                                                     | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73569 | NS      | $3634308.60   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc               | Cullen/Frost Bankers Inc                                            | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |     15090 | NS      | $2068537.20   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc/The        | Descartes Systems Group Inc/The                                     | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |     23186 | NS      | $1659190.16   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                             | Diodes Inc                                                          | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |     48121 | NS      | $3284739.46   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc                     | Domino's Pizza Inc                                                  | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |      6179 | NS      | $2216963.41   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                       | Donaldson Co Inc                                                    | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |     50421 | NS      | $4279230.27   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc                    | Dorman Products Inc                                                 | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |     41623 | NS      | $4343776.28   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc               | EastGroup Properties Inc                                            | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |     14279 | NS      | $2642900.11   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| EquipmentShare.com Inc                 | EquipmentShare.com Inc                                              | CUSIP: 29445S100<br>LEI: 254900PWJK48CGPKPI80 | Long             | EC               | CORP              | US        |     77752 | NS      | $1583808.24   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc        | Equity LifeStyle Properties Inc                                     | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |     49453 | NS      | $3086856.26   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc                  | ESCO Technologies Inc                                               | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |      9786 | NS      | $2753486.82   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc  | Essential Properties Realty Trust Inc                               | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |     75598 | NS      | $2295155.28   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                  | Euronet Worldwide Inc                                               | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     10359 | NS      | $687526.83    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp          | First American Financial Corp                                       | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |     37564 | NS      | $2264733.56   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc         | First Financial Bankshares Inc                                      | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |     41603 | NS      | $1225208.35   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc               | Franklin Electric Co Inc                                            | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |     47991 | NS      | $4423330.47   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                              | Graco Inc                                                           | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |     46467 | NS      | $3933431.55   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                   | Hayward Holdings Inc                                                | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    108840 | NS      | $1456279.20   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| HeartFlow Inc                          | HeartFlow Inc                                                       | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29469 | NS      | $716980.77    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                            | Hexcel Corp                                                         | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     29996 | NS      | $2427576.28   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH           | Huntington Bancshares Inc/OH                                        | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    120984 | NS      | $1893399.60   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                            | IDACORP Inc                                                         | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |     13333 | NS      | $1906219.01   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc              | Kinsale Capital Group Inc                                           | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |      5050 | NS      | $1725383.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                       | Knife River Corp                                                    | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     23581 | NS      | $1925388.65   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc             | LPL Financial Holdings Inc                                          | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      6192 | NS      | $1862739.36   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                   | Lamar Advertising Co                                                | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |     23547 | NS      | $2982463.02   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Lyft Inc                               | Lyft Inc                                                            | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |     98311 | NS      | $1307536.30   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd                      | Steven Madden Ltd                                                   | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |     76697 | NS      | $2601562.24   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC               | Morgan Stanley Institutional Liquidity Funds - Government Portfolio | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |   1049333 | NS      | $1049333.24   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc               | Manhattan Associates Inc                                            | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     11760 | NS      | $1565491.20   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                | NVR Inc                                                             | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |       280 | NS      | $1845152.40   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc             | Neurocrine Biosciences Inc                                          | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |     24980 | NS      | $3290865.20   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                           | NiSource Inc                                                        | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     39352 | NS      | $1836164.32   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordson Corp                           | Nordson Corp                                                        | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |     12778 | NS      | $3399714.68   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp/IN                | Old National Bancorp/IN                                             | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |    146430 | NS      | $3236103.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                  | ON Semiconductor Corp                                               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     39365 | NS      | $2437480.80   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co              | Performance Food Group Co                                           | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     51631 | NS      | $4422711.46   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                              | Pool Corp                                                           | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |      3872 | NS      | $783421.76    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc                      | Post Holdings Inc                                                   | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |     35727 | NS      | $3531971.22   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Progyny Inc                            | Progyny Inc                                                         | CUSIP: 74340E103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     43786 | NS      | $743486.28    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                   | Quaker Chemical Corp                                                | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |     23934 | NS      | $2973320.82   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralliant Corp                          | Ralliant Corp                                                       | CUSIP: 750940108<br>LEI: 52990024QKO4DYT8N464 | Long             | EC               | CORP              | US        |     25693 | NS      | $1068571.87   | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc          | Rexford Industrial Realty Inc                                       | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |     52379 | NS      | $1714364.67   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc            | Ryan Specialty Holdings Inc                                         | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     38922 | NS      | $1313228.28   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                         | A O Smith Corp                                                      | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |     59181 | NS      | $3902395.14   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORP                   | SOUTHSTATE BANK CORP                                                | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |     40456 | NS      | $3742989.12   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                   | Tradeweb Markets Inc                                                | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27335 | NS      | $3216236.10   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                 | Tyler Technologies Inc                                              | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |      4711 | NS      | $1612952.18   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                          | Valvoline Inc                                                       | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |    116972 | NS      | $3939616.96   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp                 | Webster Financial Corp                                              | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     14785 | NS      | $1026374.70   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Wyndham Hotels & Resorts Inc           | Wyndham Hotels & Resorts Inc                                        | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |     55964 | NS      | $4545955.72   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                 | Arch Capital Group Ltd                                              | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |     12348 | NS      | $1185284.52   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Insurance Group Ltd           | Hamilton Insurance Group Ltd                                        | CUSIP: 000000000<br>LEI: 549300W92BN1FIEXG871 | Long             | EC               | CORP              | BM        |     97603 | NS      | $2911497.49   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC                     | Royalty Pharma PLC                                                  | CUSIP: 000000000<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | GB        |     96140 | NS      | $4611835.80   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| White Mountains Insurance Group Ltd    | White Mountains Insurance Group Ltd                                 | CUSIP: 000000000<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | BM        |       341 | NS      | $749163.36    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-28

**Name of Applicant:** Calvert Management Series

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer