# EDGAR Filing Document

**Accession Number:** 0000319676
**File Stem:** 0001410368-26-020572
**Filing Date:** 2026-2
**Character Count:** 78657
**Document Hash:** 30510d67e35a247742329da91521f9f2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-020572.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001410368-26-020572

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**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:** 26696845

**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 Global Small-Cap Equity Fund (Series ID: S000080180)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000241879 | Calvert Global Small-Cap Equity Fund Class I |  |
| C000241880 | Calvert Global Small-Cap Equity Fund Class A |  |
| C000241881 | Calvert Global Small-Cap Equity Fund Class C |  |

## Nport-Ex

Calvert

Global Small-Cap Equity Fund

December 31, 2025

Schedule of Investments (Unaudited)

------

Common Stocks — 100.3%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Australia — 2.4% | Australia — 2.4% |  |
| BlueScope Steel Ltd. | 3279 | $52358 |
| CAR Group Ltd. | 7980 | &nbsp;&nbsp; 163440 |
| IGO Ltd.<sup>(1)</sup> | 9078 | &nbsp;&nbsp; 49474 |
| Steadfast Group Ltd. | 52170 | &nbsp;&nbsp; 183248 |
|  |  | **$448520** |
| Belgium — 0.8% | Belgium — 0.8% |  |
| KBC Ancora | 1747 | $150073 |
|  |  | **$150073** |
| Bermuda — 1.0% | Bermuda — 1.0% |  |
| Hamilton Insurance Group Ltd., Class B<sup>(1)</sup> | 6383 | &nbsp;&nbsp;&nbsp;&nbsp;$178086 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$178086** |
| Canada — 2.9% | Canada — 2.9% |  |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;939 | &nbsp;&nbsp;&nbsp;&nbsp;$159237 |
| Allied Properties Real Estate Investment Trust | 16771 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163366 |
| Descartes Systems Group, Inc.<sup>(1)</sup> | 1955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171507 |
| Lumine Group, Inc.<sup>(1)(2)(3)</sup> | 2433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48109 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$542219** |
| France — 0.8% | France — 0.8% |  |
| IPSOS SA | 3534 | &nbsp;&nbsp;&nbsp;&nbsp;$141816 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$141816** |
| Germany — 2.4% | Germany — 2.4% |  |
| Jenoptik AG | 6041 | &nbsp;&nbsp;&nbsp;&nbsp;$137160 |
| Pfisterer Holding SE<sup>(1)</sup> | 1228 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109856 |
| Schott Pharma AG & Co. KGaA | 5666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99555 |
| Tkms AG& Co. KGaA<sup>(1)</sup> | 1325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102927 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$449498** |
| Israel — 0.2% | Israel — 0.2% |  |
| Wix.com Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp;$38959 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$38959** |
| Italy — 4.3% | Italy — 4.3% |  |
| Amplifon SpA | 6274 | &nbsp;&nbsp;&nbsp;&nbsp;$100587 |
| BFF Bank SpA<sup>(1)(4)</sup> | 8381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92881 |
| FinecoBank Banca Fineco SpA | 4773 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123666 |
| Interpump Group SpA | 4290 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233363 |
| Moncler SpA | 1986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126946 |
| Reply SpA | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119166 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$796609** |
| Japan — 11.0% | Japan — 11.0% |  |
| Allegro MicroSystems, Inc.<sup>(1)</sup> | 3131 | &nbsp;&nbsp;&nbsp;&nbsp;$82596 |
| As One Corp. | 9800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150213 |
| Azbil Corp. | 10982 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99873 |
| BayCurrent, Inc.<sup>(3)</sup> | 2257 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93583 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Japan (continued) | Japan (continued) |  |
| Chiba Bank Ltd. | 11442 | $127696 |
| Cosmos Pharmaceutical Corp. | &nbsp;&nbsp;&nbsp;2812 | &nbsp;&nbsp; 142391 |
| Fuji Corp. | &nbsp;&nbsp;&nbsp;9896 | &nbsp;&nbsp; 230578 |
| Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;362 | &nbsp;&nbsp; 101432 |
| Hoshino Resorts REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;119 | &nbsp;&nbsp; 198262 |
| Japan Exchange Group, Inc. | &nbsp;&nbsp;&nbsp;9510 | &nbsp;&nbsp; 101505 |
| JMDC, Inc. | &nbsp;&nbsp;&nbsp;4318 | &nbsp;&nbsp; 109639 |
| Makita Corp. | &nbsp;&nbsp;&nbsp;3127 | &nbsp;&nbsp; 94776 |
| Relo Group, Inc. | 26842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;293718 |
| Riken Keiki Co. Ltd. | &nbsp;&nbsp;&nbsp;4758 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97278 |
| USS Co. Ltd. | 10025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109700 |
|  |  | **$2033240** |
| Luxembourg — 0.1% | Luxembourg — 0.1% |  |
| APERAM SA | &nbsp;&nbsp;&nbsp;&nbsp;266 | &nbsp;&nbsp;&nbsp;&nbsp;$10986 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$10986** |
| Netherlands — 2.3% | Netherlands — 2.3% |  |
| BE Semiconductor Industries NV | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp;$67224 |
| Euronext NV<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1159 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174103 |
| IMCD NV | &nbsp;&nbsp;&nbsp;1353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122801 |
| Topicus.com, Inc.<sup>(1)(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;760 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70405 |
|  |  | &nbsp;&nbsp;&nbsp;**$434533** |
| Singapore — 0.4% | Singapore — 0.4% |  |
| Daiwa House Logistics Trust | 177897 | &nbsp;&nbsp;&nbsp;&nbsp;$78103 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$78103** |
| Spain — 0.8% | Spain — 0.8% |  |
| Colonial SFL Socimi SA | 22430 | &nbsp;&nbsp;&nbsp;&nbsp;$143663 |
|  |  | &nbsp;&nbsp;&nbsp;**$143663** |
| Sweden — 1.2% | Sweden — 1.2% |  |
| AddTech AB, Class B | &nbsp;&nbsp;&nbsp;3014 | &nbsp;&nbsp;&nbsp;&nbsp;$106149 |
| Boliden AB<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24374 |
| Thule Group AB<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3810 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;98407 |
|  |  | &nbsp;&nbsp;&nbsp;**$228930** |
| Switzerland — 1.1% | Switzerland — 1.1% |  |
| Cicor Technologies Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;465 | &nbsp;&nbsp;&nbsp;&nbsp;$74122 |
| Straumann Holding AG | &nbsp;&nbsp;&nbsp;1171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136777 |
|  |  | &nbsp;&nbsp;&nbsp;**$210899** |
| United Kingdom — 10.5% | United Kingdom — 10.5% |  |
| Babcock International Group PLC | &nbsp;&nbsp;&nbsp;6981 | &nbsp;&nbsp;&nbsp;&nbsp;$116337 |
| Cerillion PLC | &nbsp;&nbsp;&nbsp;8069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132154 |
| Cranswick PLC | &nbsp;&nbsp;&nbsp;1707 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113743 |
| Diploma PLC | &nbsp;&nbsp;&nbsp;3215 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228741 |
| DiscoverIE Group PLC | 16329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;132306 |
| Games Workshop Group PLC | &nbsp;&nbsp;&nbsp;1357 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345228 |
| Greggs PLC<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;4946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111488 |
| Royalty Pharma PLC, Class A | &nbsp;&nbsp;&nbsp;5459 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210936 |

---

------

Calvert

Global Small-Cap Equity Fund

December 31, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| United Kingdom (continued) | United Kingdom (continued) |  |
| Savills PLC | 8770 | $117447 |
| Volution Group PLC | 18412 | &nbsp;&nbsp; 160507 |
| Wise PLC, Class A<sup>(1)</sup> | 9642 | &nbsp;&nbsp; 115511 |
| Zegona Communications PLC | 8503 | &nbsp;&nbsp; 159325 |
|  |  | **$1943723** |
| United States — 58.1% | United States — 58.1% |  |
| A.O. Smith Corp. | 3750 | $250800 |
| AAON, Inc.<sup>(3)</sup> | 1385 | &nbsp;&nbsp; 105606 |
| Addus HomeCare Corp.<sup>(1)</sup> | 1608 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;172683 |
| Advanced Drainage Systems, Inc. | 1106 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160182 |
| AptarGroup, Inc. | 1657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;202088 |
| Aramark | 6939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255771 |
| Atmus Filtration Technologies, Inc. | 3248 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168604 |
| AZZ, Inc. | 1767 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189387 |
| Badger Meter, Inc. | 1235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215396 |
| Balchem Corp. | 1103 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;169156 |
| Bio-Techne Corp. | 1949 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114621 |
| Bright Horizons Family Solutions, Inc.<sup>(1)</sup> | 2253 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228454 |
| Burlington Stores, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;245522 |
| Caris Life Sciences, Inc.<sup>(1)</sup> | 2899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78215 |
| CBIZ, Inc.<sup>(1)</sup> | 4561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230102 |
| CCC Intelligent Solutions Holdings, Inc.<sup>(1)</sup> | 22015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175019 |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;816 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111139 |
| Certara, Inc.<sup>(1)</sup> | 7548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;66498 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106537 |
| Cincinnati Financial Corp. | 1254 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204803 |
| Citizens Financial Group, Inc. | 1067 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62323 |
| Commerce Bancshares, Inc. | 2216 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115985 |
| Community Financial System, Inc. | 2050 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117752 |
| Core & Main, Inc., Class A<sup>(1)</sup> | 4148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;215572 |
| CSW Industrials, Inc. | 1169 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;343137 |
| Diodes, Inc.<sup>(1)</sup> | 2939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145010 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;352 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146721 |
| Donaldson Co., Inc. | 3395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;301001 |
| Dorman Products, Inc.<sup>(1)</sup> | 2045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;251924 |
| EastGroup Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;791 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140909 |
| Equity LifeStyle Properties, Inc. | 2770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;167890 |
| ESCO Technologies, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116257 |
| Essential Properties Realty Trust, Inc. | 4174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;123801 |
| Euronet Worldwide, Inc.<sup>(1)</sup> | 2450 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186469 |
| First American Financial Corp. | 1777 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109179 |
| First Financial Bankshares, Inc. | 2440 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72883 |
| Franklin Electric Co., Inc. | 2727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260510 |
| Graco, Inc. | 2671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;218942 |
| Hayward Holdings, Inc.<sup>(1)</sup> | 6037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93272 |
| HeartFlow, Inc.<sup>(1)</sup> | 1729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;50400 |
| Hexcel Corp. | 1654 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122231 |
| Huntington Bancshares, Inc. | 3494 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60621 |
| IDACORP, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97451 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122421 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| United States (continued) | United States (continued) |  |
| Knife River Corp.<sup>(1)</sup> | 1080 | $75978 |
| Lamar Advertising Co., Class A | 1313 | &nbsp;&nbsp; 166200 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;349 | &nbsp;&nbsp; 124652 |
| Lyft, Inc., Class A<sup>(1)</sup> | 5821 | &nbsp;&nbsp; 112753 |
| Manhattan Associates, Inc.<sup>(1)</sup> | &nbsp;&nbsp;451 | &nbsp;&nbsp; 78163 |
| Meritage Homes Corp. | &nbsp;&nbsp;781 | &nbsp;&nbsp; 51390 |
| Neurocrine Biosciences, Inc.<sup>(1)</sup> | 1437 | &nbsp;&nbsp; 203810 |
| NiSource, Inc. | 2267 | &nbsp;&nbsp; 94670 |
| Nordson Corp. | &nbsp;&nbsp;676 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162531 |
| NVR, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131270 |
| Old National Bancorp | 8086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180399 |
| ON Semiconductor Corp.<sup>(1)</sup> | 2163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117126 |
| Performance Food Group Co.<sup>(1)</sup> | 2939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;264275 |
| Post Holdings, Inc.<sup>(1)</sup> | 1187 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117572 |
| Quaker Chemical Corp. | 1364 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;187291 |
| Rexford Industrial Realty, Inc. | 2138 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82783 |
| Ryan Specialty Holdings, Inc. | 2422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125048 |
| SouthState Bank Corp. | 2413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227087 |
| SPS Commerce, Inc.<sup>(1)</sup> | &nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40732 |
| Steven Madden Ltd. | 5742 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;239097 |
| Tradeweb Markets, Inc., Class A | 1551 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166795 |
| Tyler Technologies, Inc.<sup>(1)</sup> | &nbsp;&nbsp;144 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65369 |
| Valvoline, Inc.<sup>(1)</sup> | 7121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;206936 |
| Webster Financial Corp. | 1862 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117194 |
| White Mountains Insurance Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120526 |
| Wyndham Hotels & Resorts, Inc. | 3099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;234160 |
|  |  | **$10787051** |
| Total Common Stocks<br> (identified cost $15,974,232) |  | **$18616908** |

---

Short-Term Investments — 0.7%

---

| | | |
|:---|:---|:---|
| Affiliated Fund — 0.1% | Affiliated Fund — 0.1% | Affiliated Fund — 0.1% |
| **Security** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.69%<sup>(5)</sup> | 17068 | $17068 |
| Total Affiliated Fund<br> (identified cost $17,068) |  | **$17068** |

---

------

Calvert

Global Small-Cap Equity Fund

December 31, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| Securities Lending Collateral — 0.6% | Securities Lending Collateral — 0.6% | Securities Lending Collateral — 0.6% |
| **Security** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| State Street Navigator Securities Lending Government Money Market Portfolio, 3.83%<sup>(6)</sup> | 110023 | $110023 |
| Total Securities Lending Collateral<br> (identified cost $110,023) |  | **$110023** |
| Total Short-Term Investments<br> (identified cost $127,091) |  | **$127091** |

---

---

| | |
|:---|:---|
| Total Investments — 101.0%<br> (identified cost $16,101,323) | **$18743999** |
| Other Assets, Less Liabilities — (1.0)% | **$(179735)** |
| Net Assets — 100.0% | **$18564264** |

---

---

| | |
|:---|:---|
| 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> | 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, 2025, the aggregate value of these securities is $48,109 or 0.3% of the Fund's net assets. |
| <sup>(3)</sup> | All or a portion of this security was on loan at December 31, 2025. The aggregate market value of securities on loan at December 31, 2025 was $421,078 and the total market value of the collateral received by the Fund was $472,494, comprised of cash of $110,023 and U.S. government and/or agencies securities of $362,471. |
| <sup>(4)</sup> | 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, 2025, the aggregate value of these securities is $365,391 or 2.0% of the Fund's net assets. |
| <sup>(5)</sup> | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of December 31, 2025. |
| <sup>(6)</sup> | Represents investment of cash collateral received in connection with securities lending. |

---

At December 31, 2025, the concentration of the Fund's investments in the various sectors, determined as a percentage of net assets, was as follows:

---

| | |
|:---|:---|
| **Economic Sectors** | &nbsp;&nbsp;**% of Net Assets** |
| Industrials | &nbsp;&nbsp;&nbsp;&nbsp;26.3% |
| Financials | &nbsp;&nbsp;&nbsp;&nbsp;18.1 |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;&nbsp;15.0 |
| Information Technology | &nbsp;&nbsp;&nbsp;&nbsp;11.3 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.0 |
| Health Care | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8.6 |
| Materials | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.0 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.5 |
| Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.5 |
| Utilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| **Total** | &nbsp;&nbsp;**100.3%** |

---

The Fund did not have any open derivative instruments at December 31, 2025.

------

Calvert

Global Small-Cap Equity Fund

December 31, 2025

Schedule of Investments (Unaudited) — continued

------

Affiliated Investments

At December 31, 2025, the value of the Fund's investment in funds that may be deemed to be affiliated was $17,068, which represents 0.1% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended December 31, 2025 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> | $545604 | $1059418 | $(1587954) | $— | $— | $17068 | $891 | 17068 |

---

<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 December 31, 2025, 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;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$448520 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$448520 |
| &nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150073 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150073 |
| &nbsp;&nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178086 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178086 |
| &nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542219 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542219 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141816 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141816 |
| &nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;346571 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;449498 |
| &nbsp;&nbsp;&nbsp;Israel | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38959 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38959 |
| &nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796609 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;796609 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82596 | &nbsp;&nbsp;&nbsp;&nbsp;1950644 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2033240 |
| &nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10986 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10986 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70405 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;364128 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434533 |
| &nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78103 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78103 |
| &nbsp;&nbsp;&nbsp;Spain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143663 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143663 |
| &nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228930 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;228930 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210899 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210899 |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;210936 | &nbsp;&nbsp;&nbsp;&nbsp;1732787 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1943723 |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;10787051 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;10787051 |
| **Total Common Stocks** | &nbsp;&nbsp;**$12013179** | &nbsp;&nbsp;**$6603729<sup>(1)</sup>** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$18616908** |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$17068 |

---

------

Calvert

Global Small-Cap Equity Fund

December 31, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description (continued)** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;&nbsp;Securities Lending Collateral | &nbsp;&nbsp;&nbsp;&nbsp;$110023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$110023 |
| **Total Investments** | &nbsp;&nbsp;**$12140270** | &nbsp;&nbsp;**$6603729** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$18743999** |

---

<sup>(1)</sup> Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

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 Global Small-Cap Equity Fund

- **b. EDGAR series identifier (if any):** S000080180

- **c. LEI of Series:** 549300085JWTRG4OWE73

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $18825565.18

**Total Liabilities:** $180327.56

**Net Assets:** $18645237.62

**Cash Not Reported:** $5.40

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241879 | -2.37%               | 0.40%                | -0.54%               |
| Class ID C000241880 | -2.42%               | 0.43%                | -0.55%               |
| Class ID C000241881 | -2.42%               | 0.32%                | -0.61%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $103577.85               | $-588283.43                                |
| Month 2  | $92251.95                | $-3796.34                                  |
| Month 3  | $145920.02               | $-275649.67                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AAON Inc                                       | AAON Inc                                                                    | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1385 | NS      | $105606.25    | 0.57%             |  |  |  | No            |                  1 | On Loan: —       |
| DiscoverIE Group PLC                           | DiscoverIE Group PLC                                                        | CUSIP: 000000000<br>LEI: 213800BMDLQU1VEEAN68 | Long             | EC               | CORP              | GB        |     16329 | NS      | $132306.30    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| AZZ Inc                                        | AZZ Inc                                                                     | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      1767 | NS      | $189387.06    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                            | Addus HomeCare Corp                                                         | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      1608 | NS      | $172683.12    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Drainage Systems Inc                  | Advanced Drainage Systems Inc                                               | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |      1106 | NS      | $160181.98    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                         | Agnico Eagle Mines Ltd                                                      | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |       939 | NS      | $159237.65    | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                       | Allegro MicroSystems Inc                                                    | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3131 | NS      | $82595.78     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Diploma PLC                                    | Diploma PLC                                                                 | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |      3215 | NS      | $228741.31    | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Allied Properties Real Estate Investment Trust | Allied Properties Real Estate Investment Trust                              | CUSIP: 019456102<br>LEI: 549300AMZMPKVHA0MY77 | Long             | EC               |  | CA        |     16771 | NS      | $163366.19    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Cranswick PLC                                  | Cranswick PLC                                                               | CUSIP: 000000000<br>LEI: 549300LDZLPU51XOSK43 | Long             | EC               | CORP              | GB        |      1707 | NS      | $113742.96    | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Games Workshop Group PLC                       | Games Workshop Group PLC                                                    | CUSIP: 000000000<br>LEI: 213800RP9QJQYGWHNT41 | Long             | EC               | CORP              | GB        |      1357 | NS      | $345227.39    | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| AptarGroup Inc                                 | AptarGroup Inc                                                              | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      1657 | NS      | $202087.72    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                        | Aramark                                                                     | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |      6939 | NS      | $255771.54    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc              | Atmus Filtration Technologies Inc                                           | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3278 | NS      | $170160.98    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                               | Badger Meter Inc                                                            | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      1235 | NS      | $215396.35    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                                   | Balchem Corp                                                                | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |      1103 | NS      | $169156.08    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                                | Bio-Techne Corp                                                             | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |      1949 | NS      | $114620.69    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock International Group PLC                | Babcock International Group PLC                                             | CUSIP: 000000000<br>LEI: 213800TSKOLX4EU6L377 | Long             | EC               | CORP              | GB        |      6981 | NS      | $116337.07    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Bright Horizons Family Solutions Inc           | Bright Horizons Family Solutions Inc                                        | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |      2253 | NS      | $228454.20    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                          | Burlington Stores Inc                                                       | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |       850 | NS      | $245522.50    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                                       | CBIZ Inc                                                                    | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Long             | EC               | CORP              | US        |      4561 | NS      | $230102.45    | 1.23%             |  |  |  | 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        |     22015 | NS      | $175019.25    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                    | CDW Corp/DE                                                                 | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       816 | NS      | $111139.20    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc                            | CSW Industrials Inc                                                         | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      1169 | NS      | $343136.57    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Caris Life Sciences Inc                        | Caris Life Sciences Inc                                                     | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |      2899 | NS      | $78215.02     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Certara Inc                                    | Certara Inc                                                                 | CUSIP: 15687V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7548 | NS      | $66497.88     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                    | Chemed Corp                                                                 | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       249 | NS      | $106537.14    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cincinnati Financial Corp                      | Cincinnati Financial Corp                                                   | CUSIP: 172062101<br>LEI: 254900Q4WEDMZBOZ0002 | Long             | EC               | CORP              | US        |      1254 | NS      | $204803.28    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc                   | Citizens Financial Group Inc                                                | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |      1067 | NS      | $62323.47     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO                     | Commerce Bancshares Inc/MO                                                  | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2216 | NS      | $115985.44    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Community Financial System Inc                 | Community Financial System Inc                                              | CUSIP: 203607106<br>LEI: 5299008N6YHE6GCP1E80 | Long             | EC               | CORP              | US        |      2050 | NS      | $117752.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Core & Main Inc                                | Core & Main Inc                                                             | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4148 | NS      | $215571.56    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc/The                | Descartes Systems Group Inc/The                                             | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |      1955 | NS      | $171506.72    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                                     | Diodes Inc                                                                  | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      2939 | NS      | $145010.26    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc                             | Domino's Pizza Inc                                                          | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       352 | NS      | $146720.64    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                               | Donaldson Co Inc                                                            | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      3395 | NS      | $301000.70    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc                            | Dorman Products Inc                                                         | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |      2045 | NS      | $251923.55    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                       | EastGroup Properties Inc                                                    | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |       791 | NS      | $140908.74    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                | Equity LifeStyle Properties Inc                                             | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |      2770 | NS      | $167889.70    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| ESCO Technologies Inc                          | ESCO Technologies Inc                                                       | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |       595 | NS      | $116257.05    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc          | Essential Properties Realty Trust Inc                                       | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               |  | US        |      4174 | NS      | $123800.84    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                          | Euronet Worldwide Inc                                                       | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      2450 | NS      | $186469.50    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp                  | First American Financial Corp                                               | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      1777 | NS      | $109178.88    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc                 | First Financial Bankshares Inc                                              | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |      2440 | NS      | $72882.80     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Electric Co Inc                       | Franklin Electric Co Inc                                                    | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |      2727 | NS      | $260510.31    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                      | Graco Inc                                                                   | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      2671 | NS      | $218941.87    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                           | Hayward Holdings Inc                                                        | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6037 | NS      | $93271.65     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| HeartFlow Inc                                  | HeartFlow Inc                                                               | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1729 | NS      | $50400.35     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                    | Hexcel Corp                                                                 | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      1654 | NS      | $122230.60    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH                   | Huntington Bancshares Inc/OH                                                | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |      3494 | NS      | $60620.90     | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                                    | IDACORP Inc                                                                 | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |       770 | NS      | $97451.20     | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                      | Kinsale Capital Group Inc                                                   | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       313 | NS      | $122420.56    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Knife River Corp                               | Knife River Corp                                                            | CUSIP: 498894104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1080 | NS      | $75978.00     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                     | LPL Financial Holdings Inc                                                  | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |       349 | NS      | $124652.33    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Co                           | Lamar Advertising Co                                                        | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               |  | US        |      1313 | NS      | $166199.54    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Interpump Group SpA                            | Interpump Group SpA                                                         | CUSIP: 000000000<br>LEI: 815600C79D0F31F4D395 | Long             | EC               | CORP              | IT        |      4290 | NS      | $233362.72    | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Cicor Technologies Ltd                         | Cicor Technologies Ltd                                                      | CUSIP: 000000000<br>LEI: 529900PIIUEUGLYD8P70 | Long             | EC               | CORP              | CH        |       465 | NS      | $74122.19     | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Lumine Group Inc                               | Lumine Group Inc                                                            | CUSIP: 55027C106<br>LEI: 984500E3C44B9D44M738 | Long             | EC               | CORP              | CA        |      2433 | NS      | $48108.72     | 0.26%             |  |  |  | Yes           |                  1 | On Loan: —       |
| Lyft Inc                                       | Lyft Inc                                                                    | CUSIP: 55087P104<br>LEI: 549300H7I5VN334XVZ52 | Long             | EC               | CORP              | US        |      5821 | NS      | $112752.77    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Steven Madden Ltd                              | Steven Madden Ltd                                                           | CUSIP: 556269108<br>LEI: 549300Z9GZ7GYJWSGF43 | Long             | EC               | CORP              | US        |      5742 | NS      | $239096.88    | 1.28%             |  |  |  | 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        |     17068 | NS      | $17068.13     | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                       | Manhattan Associates Inc                                                    | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |       451 | NS      | $78162.81     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp                            | Meritage Homes Corp                                                         | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |       781 | NS      | $51389.80     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| USS Co Ltd                                     | USS Co Ltd                                                                  | CUSIP: 000000000<br>LEI: 5299000RRQD6UZXG4W72 | Long             | EC               | CORP              | JP        |     10025 | NS      | $109699.65    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Relo Group Inc                                 | Relo Group Inc                                                              | CUSIP: 000000000<br>LEI: 353800T595XRZDA8IB59 | Long             | EC               | CORP              | JP        |     26842 | NS      | $293717.71    | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Chiba Bank Ltd/The                             | Chiba Bank Ltd/The                                                          | CUSIP: 000000000<br>LEI: FGJPAKKCTZVSKZXNBS63 | Long             | EC               | CORP              | JP        |     11442 | NS      | $127696.35    | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| NVR Inc                                        | NVR Inc                                                                     | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        18 | NS      | $131269.86    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Fuji Corp/Aichi                                | Fuji Corp/Aichi                                                             | CUSIP: 000000000<br>LEI: 353800G4VS3QLM6BSX66 | Long             | EC               | CORP              | JP        |      9896 | NS      | $230577.78    | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Neurocrine Biosciences Inc                     | Neurocrine Biosciences Inc                                                  | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      1437 | NS      | $203809.71    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hikari Tsushin Inc                             | Hikari Tsushin Inc                                                          | CUSIP: 000000000<br>LEI: 3538001SOIIV8U3OXH94 | Long             | EC               | CORP              | JP        |       362 | NS      | $101431.99    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| IGO Ltd                                        | IGO Ltd                                                                     | CUSIP: 000000000<br>LEI: 2549005DZO8VGXM5QN07 | Long             | EC               | CORP              | AU        |      9078 | NS      | $49473.69     | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| As One Corp                                    | As One Corp                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      9800 | NS      | $150213.51    | 0.81%             |  |  |  | No            |                  2 | On Loan: No      |
| BlueScope Steel Ltd                            | BlueScope Steel Ltd                                                         | CUSIP: 000000000<br>LEI: 529900H6UQI16XACWC95 | Long             | EC               | CORP              | AU        |      3279 | NS      | $52357.56     | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| NiSource Inc                                   | NiSource Inc                                                                | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |      2267 | NS      | $94669.92     | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Makita Corp                                    | Makita Corp                                                                 | CUSIP: 000000000<br>LEI: 529900CDR9E94BCM6294 | Long             | EC               | CORP              | JP        |      3127 | NS      | $94776.14     | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Nordson Corp                                   | Nordson Corp                                                                | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |       676 | NS      | $162530.68    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Riken Keiki Co Ltd                             | Riken Keiki Co Ltd                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      4758 | NS      | $97277.63     | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Japan Exchange Group Inc                       | Japan Exchange Group Inc                                                    | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |      9510 | NS      | $101505.50    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Old National Bancorp/IN                        | Old National Bancorp/IN                                                     | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |      8086 | NS      | $180398.66    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                          | ON Semiconductor Corp                                                       | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      2163 | NS      | $117126.45    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Azbil Corp                                     | Azbil Corp                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     10982 | NS      | $99872.62     | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Performance Food Group Co                      | Performance Food Group Co                                                   | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      2939 | NS      | $264274.88    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Post Holdings Inc                              | Post Holdings Inc                                                           | CUSIP: 737446104<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | EC               | CORP              | US        |      1187 | NS      | $117572.35    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Quaker Chemical Corp                           | Quaker Chemical Corp                                                        | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      1364 | NS      | $187290.84    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                  | Rexford Industrial Realty Inc                                               | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |      2138 | NS      | $82783.36     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryan Specialty Holdings Inc                    | Ryan Specialty Holdings Inc                                                 | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2422 | NS      | $125047.86    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                               | SPS Commerce Inc                                                            | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |       562 | NS      | $50091.06     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                                 | A O Smith Corp                                                              | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      3750 | NS      | $250800.00    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHSTATE BANK CORP                           | SOUTHSTATE BANK CORP                                                        | CUSIP: 84472E102<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      2413 | NS      | $227087.43    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Topicus.com Inc                                | Topicus.com Inc                                                             | CUSIP: 89072T102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       760 | NS      | $70404.72     | 0.38%             |  |  |  | No            |                  1 | On Loan: —       |
| Tradeweb Markets Inc                           | Tradeweb Markets Inc                                                        | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1551 | NS      | $166794.54    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                         | Tyler Technologies Inc                                                      | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |       144 | NS      | $65368.80     | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Valvoline Inc                                  | Valvoline Inc                                                               | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |      7121 | NS      | $206936.26    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp                         | Webster Financial Corp                                                      | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |      1862 | NS      | $117194.28    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Reply SpA                                      | Reply SpA                                                                   | CUSIP: 000000000<br>LEI: 815600DAEFB0388F3521 | Long             | EC               | CORP              | IT        |       890 | NS      | $119166.20    | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                   | Wyndham Hotels & Resorts Inc                                                | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      3099 | NS      | $234160.44    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Moncler SpA                                    | Moncler SpA                                                                 | CUSIP: 000000000<br>LEI: 815600EBD7FB00525B20 | Long             | EC               | CORP              | IT        |      1986 | NS      | $126945.49    | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| IMCD NV                                        | IMCD NV                                                                     | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | EC               | CORP              | NL        |      1353 | NS      | $122801.47    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| BFF Bank SpA                                   | BFF Bank SpA                                                                | CUSIP: 000000000<br>LEI: 815600522538355AE429 | Long             | EC               | CORP              | IT        |      8381 | NS      | $92881.11     | 0.50%             |  |  |  | Yes           |                  2 | On Loan: No      |
| BE Semiconductor Industries NV                 | BE Semiconductor Industries NV                                              | CUSIP: 000000000<br>LEI: 7245007A1YFLI2GNYX06 | Long             | EC               | CORP              | NL        |       430 | NS      | $67224.46     | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Jenoptik AG                                    | Jenoptik AG                                                                 | CUSIP: 000000000<br>LEI: 529900P34GDHGXK6VB37 | Long             | EC               | CORP              | DE        |      6041 | NS      | $137160.31    | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Wise PLC                                       | Wise PLC                                                                    | CUSIP: 000000000<br>LEI: 213800LD9XCHIC1C4V71 | Long             | EC               | CORP              | GB        |      9642 | NS      | $115511.37    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| Daiwa House Logistics Trust                    | Daiwa House Logistics Trust                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    177897 | NS      | $78103.21     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Straumann Holding AG                           | Straumann Holding AG                                                        | CUSIP: 000000000<br>LEI: 50670046ML5FVIM60Z37 | Long             | EC               | CORP              | CH        |      1171 | NS      | $136777.34    | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Boliden AB                                     | Boliden AB                                                                  | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |       440 | NS      | $24374.36     | 0.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Schott Pharma AG & Co KGaA                     | Schott Pharma AG & Co KGaA                                                  | CUSIP: 000000000<br>LEI: 529900TU48UE99NHEY88 | Long             | EC               | CORP              | DE        |      5666 | NS      | $99555.13     | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Tkms AG& Co KGaA                               | Tkms AG& Co KGaA                                                            | CUSIP: 000000000<br>LEI: 529900W81B194B0E0078 | Long             | EC               | CORP              | DE        |      1325 | NS      | $102926.95    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Cosmos Pharmaceutical Corp                     | Cosmos Pharmaceutical Corp                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2812 | NS      | $142390.90    | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| Savills PLC                                    | Savills PLC                                                                 | CUSIP: 000000000<br>LEI: 213800WXICGMBWHTA933 | Long             | EC               | CORP              | GB        |      8770 | NS      | $117447.33    | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Amplifon SpA                                   | Amplifon SpA                                                                | CUSIP: 000000000<br>LEI: ZYXJDNVM2JI3VBM8G556 | Long             | EC               | CORP              | IT        |      6274 | NS      | $100586.93    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| IPSOS SA                                       | IPSOS SA                                                                    | CUSIP: 000000000<br>LEI: 9695002OY2X35E9X8W87 | Long             | EC               | CORP              | FR        |      3534 | NS      | $141815.61    | 0.76%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Ancora                                     | KBC Ancora                                                                  | CUSIP: 000000000<br>LEI: 549300I4XZ0RR3ZOSZ55 | Long             | EC               | CORP              | BE        |      1747 | NS      | $150073.04    | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| APERAM SA                                      | APERAM SA                                                                   | CUSIP: 000000000<br>LEI: 5493001136GE6L4R7M63 | Long             | EC               | CORP              | LU        |       266 | NS      | $10985.78     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Greggs PLC                                     | Greggs PLC                                                                  | CUSIP: 000000000<br>LEI: 213800I71QMUFJ64IW20 | Long             | EC               | CORP              | GB        |      4946 | NS      | $111487.96    | 0.60%             |  |  |  | No            |                  2 | On Loan: —       |
| Hoshino Resorts REIT Inc                       | Hoshino Resorts REIT Inc                                                    | CUSIP: 000000000<br>LEI: 353800DF2MUZWFL4IL56 | Long             | EC               |  | JP        |       119 | NS      | $198262.19    | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Steadfast Group Ltd                            | Steadfast Group Ltd                                                         | CUSIP: 000000000<br>LEI: 9845003B6BEAA12DBD91 | Long             | EC               | CORP              | AU        |     52170 | NS      | $183248.31    | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Colonial SFL Socimi SA                         | Colonial SFL Socimi SA                                                      | CUSIP: 000000000<br>LEI: 95980020140005007414 | Long             | EC               |  | ES        |     22430 | NS      | $143663.25    | 0.77%             |  |  |  | No            |                  2 | On Loan: No      |
| JMDC Inc                                       | JMDC Inc                                                                    | CUSIP: 000000000<br>LEI: 3538002M2SQV6WJ6MQ67 | Long             | EC               | CORP              | JP        |      4318 | NS      | $109638.64    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| AddTech AB                                     | AddTech AB                                                                  | CUSIP: 000000000<br>LEI: 549300QZ5U2IDRHPWL60 | Long             | EC               | CORP              | SE        |      3014 | NS      | $106148.83    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Volution Group PLC                             | Volution Group PLC                                                          | CUSIP: 000000000<br>LEI: 213800EPT84EQCDHO768 | Long             | EC               | CORP              | GB        |     18412 | NS      | $160506.64    | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronext NV                                    | Euronext NV                                                                 | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |      1159 | NS      | $174102.51    | 0.93%             |  |  |  | Yes           |                  2 | On Loan: No      |
| FinecoBank Banca Fineco SpA                    | FinecoBank Banca Fineco SpA                                                 | CUSIP: 000000000<br>LEI: 549300L7YCATGO57ZE10 | Long             | EC               | CORP              | IT        |      4773 | NS      | $123666.29    | 0.66%             |  |  |  | No            |                  2 | On Loan: No      |
| Pfisterer Holding SE                           | Pfisterer Holding SE                                                        | CUSIP: 000000000<br>LEI: 529900APPYG9TGZYS639 | Long             | EC               | CORP              | DE        |      1228 | NS      | $109855.81    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Thule Group AB                                 | Thule Group AB                                                              | CUSIP: 000000000<br>LEI: 549300XHHOGBOERKU333 | Long             | EC               | CORP              | SE        |      3810 | NS      | $98406.65     | 0.53%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Zegona Communications plc                      | Zegona Communications plc                                                   | CUSIP: 000000000<br>LEI: 213800ASI1VZL2ED4S65 | Long             | EC               | CORP              | GB        |      8503 | NS      | $159325.23    | 0.85%             |  |  |  | No            |                  2 | On Loan: No      |
| CAR Group Ltd                                  | CAR Group Ltd                                                               | CUSIP: 000000000<br>LEI: 5299009TFWZGH2AN7D11 | Long             | EC               | CORP              | AU        |      7980 | NS      | $163440.56    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| BayCurrent Inc                                 | BayCurrent Inc                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2257 | NS      | $93583.54     | 0.50%             |  |  |  | No            |                  2 | On Loan: —       |
| Cerillion PLC                                  | Cerillion PLC                                                               | CUSIP: 000000000<br>LEI: 213800ISIZMUC3P46850 | Long             | EC               | CORP              | GB        |      8069 | NS      | $132153.80    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| State Street Global Advisors                   | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |    110023 | NS      | $110022.75    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Insurance Group Ltd                   | Hamilton Insurance Group Ltd                                                | CUSIP: 000000000<br>LEI: 549300W92BN1FIEXG871 | Long             | EC               | CORP              | BM        |      6383 | NS      | $178085.70    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Royalty Pharma PLC                             | Royalty Pharma PLC                                                          | CUSIP: 000000000<br>LEI: 549300FGFN7VOK8BZR03 | Long             | EC               | CORP              | GB        |      5459 | NS      | $210935.76    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| White Mountains Insurance Group Ltd            | White Mountains Insurance Group Ltd                                         | CUSIP: 000000000<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | BM        |        58 | NS      | $120525.74    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Ltd                                    | Wix.com Ltd                                                                 | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |       375 | NS      | $38958.75     | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-29

**Name of Applicant:** Calvert Management Series

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer