# EDGAR Filing Document

**Accession Number:** 0001588812
**File Stem:** 0001193125-25-336983
**Filing Date:** 2025-12
**Character Count:** 205083
**Document Hash:** d29df39c0998aecf7717998dde390f05
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-336983.hdr.sgml**: 20251230

**ACCESSION NUMBER**: 0001193125-25-336983

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 20

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251230

**DATE AS OF CHANGE**: 20251230

**EFFECTIVENESS DATE**: 20251230

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Global Macro Capital Opportunities Portfolio
- **CENTRAL INDEX KEY:** 0001588812

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22896
- **FILM NUMBER:** 251614047

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

## Series and Classes Contracts Data

### Global Macro Capital Opportunities Portfolio (Series ID: S000043509)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000134926 | Global Macro Capital Opportunities Portfolio |  |

?xml version='1.0' encoding='ASCII'? Global Macro Capital Opportunites Portfolio

### UNITED STATES

### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

### Form N-CSR

#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

#### MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act File Number: 811-22896

## Global Macro Capital Opportunities Portfolio

#### (Exact Name of Registrant as Specified in Charter)

#### One Post Office Square, Boston, Massachusetts 02109

#### (Address of Principal Executive Offices)

#### Deidre E. Walsh

#### One Post Office Square, Boston, Massachusetts 02109

#### (Name and Address of Agent for Services)
(617) 482-8260

#### (Registrant's Telephone Number)

#### October 31

#### Date of Fiscal Year End

#### October 31, 2025

#### Date of Reporting Period

------

#### Item 1. Reports to Stockholders
(a) # Global Macro Capital Opportunities Portfolio
![Image](g93599i3d61a0367fe5279a819b.jpg)

#### Annual Shareholder Report October 31, 2025
This annual shareholder report contains important information about the Global Macro Capital Opportunities Portfolio (the "Fund") for the period of November 1, 2024 to October 31, 2025. You can find additional information about the Fund at www.eatonvance.com/open-end-mutual-fund-documents.php and selecting Eaton Vance Emerging and Frontier Countries Equity Fund. You can also request this information by contacting us at 1-800-262-1122.

## What were the Fund costs for the last year?
(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| **Fund Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Global Macro Capital Opportunities Portfolio | $126 | 1.09% |

---

## How did the Fund perform last year and what affected its performance?
Key contributors to (↑) and detractors from (↓) performance, relative to the MSCI Emerging Markets Equal Country Weighted Index (the Index):

↓ Zero-weights to Columbian and Hungarian equities detracted from performance as both markets rallied along with most Emerging Market (EM) equities

↓ An underweight to Egyptian equities detracted from performance. The position was sold before the end of the period

↑ An overweight to Greek equities contributed to relative performance due to positive progress on a robust reform agenda

↑ An out-of-Index allocation to Cyprus equities aided performance due to continued business friendly and pro-growth policies

↑ An overweight to South Korean equities contributed to performance as the newly elected President looked to improve corporate governance

## Fund Performance
Comparison of the change in value of a $10,000 investment for the period indicated.

![Growth of 10K Chart](g93599i022f410ede3fffcfc0e8.jpg)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Global Macro Capital Opportunities Portfolio** | **MSCI Emerging Markets Index** | **Blended Index** | **MSCI Emerging Markets Equal Country Weighted Index** | **MSCI Frontier Markets Index** |
| **10/15** | $10000 | $10000 | $10000 | $10000 | $10000 |
| **11/15** | $9674 | $9610 | $9467 | $9378 | $9557 |
| **12/15** | $9555 | $9396 | $9408 | $9288 | $9528 |
| **1/16** | $8971 | $8786 | $8842 | $8806 | $8876 |
| **2/16** | $8911 | $8772 | $9048 | $8909 | $9186 |
| **3/16** | $9519 | $9933 | $9788 | $10123 | $9438 |
| **4/16** | $9531 | $9987 | $10060 | $10375 | $9727 |
| **5/16** | $9555 | $9614 | $9877 | $9894 | $9824 |
| **6/16** | $9864 | $9998 | $9830 | $10144 | $9483 |
| **7/16** | $10198 | $10501 | $10133 | $10644 | $9600 |
| **8/16** | $10401 | $10762 | $10114 | $10723 | $9491 |
| **9/16** | $10627 | $10901 | $10225 | $10685 | $9734 |
| **10/16** | $10567 | $10927 | $10280 | $10842 | $9695 |
| **11/16** | $10317 | $10424 | $9831 | $10088 | $9523 |
| **12/16** | $10378 | $10447 | $10116 | $10398 | $9782 |
| **1/17** | $10810 | $11018 | $10631 | $10765 | $10433 |
| **2/17** | $11025 | $11356 | $10726 | $10996 | $10395 |
| **3/17** | $11373 | $11642 | $10956 | $11197 | $10652 |
| **4/17** | $11613 | $11897 | $11167 | $11498 | $10776 |
| **5/17** | $12032 | $12249 | $11572 | $11842 | $11236 |
| **6/17** | $12152 | $12372 | $11618 | $11863 | $11305 |
| **7/17** | $12499 | $13110 | $12002 | $12397 | $11543 |
| **8/17** | $12631 | $13402 | $12345 | $12647 | $11969 |
| **9/17** | $12691 | $13349 | $12374 | $12450 | $12213 |
| **10/17** | $13159 | $13817 | $12509 | $12568 | $12363 |
| **11/17** | $13242 | $13845 | $12522 | $12448 | $12507 |
| **12/17** | $13638 | $14342 | $13068 | $13145 | $12898 |
| **1/18** | $14537 | $15537 | $13905 | $14074 | $13637 |
| **2/18** | $13949 | $14820 | $13524 | $13512 | $13434 |
| **3/18** | $14153 | $14545 | $13511 | $13365 | $13556 |
| **4/18** | $13866 | $14481 | $13332 | $13432 | $13129 |
| **5/18** | $13350 | $13967 | $12241 | $12471 | $11919 |
| **6/18** | $12883 | $13387 | $11872 | $12160 | $11497 |
| **7/18** | $13087 | $13681 | $12315 | $12623 | $11918 |
| **8/18** | $12703 | $13311 | $11778 | $12202 | $11275 |
| **9/18** | $12547 | $13241 | $11768 | $12188 | $11269 |
| **10/18** | $11673 | $12088 | $11221 | $11487 | $10871 |
| **11/18** | $11984 | $12586 | $11456 | $11718 | $11106 |
| **12/18** | $11650 | $12252 | $11185 | $11507 | $10781 |
| **1/19** | $12378 | $13325 | $11936 | $12505 | $11294 |
| **2/19** | $12439 | $13355 | $11943 | $12420 | $11385 |
| **3/19** | $12526 | $13467 | $11980 | $12347 | $11522 |
| **4/19** | $12575 | $13751 | $12096 | $12563 | $11542 |
| **5/19** | $12131 | $12753 | $11969 | $12029 | $11792 |
| **6/19** | $12810 | $13549 | $12415 | $12649 | $12063 |
| **7/19** | $12649 | $13383 | $12534 | $12573 | $12365 |
| **8/19** | $12094 | $12731 | $12008 | $11718 | $12168 |
| **9/19** | $12193 | $12974 | $11998 | $11928 | $11930 |
| **10/19** | $12526 | $13521 | $12213 | $12258 | $12027 |
| **11/19** | $12550 | $13502 | $12262 | $12190 | $12192 |
| **12/19** | $13116 | $14509 | $12907 | $12943 | $12721 |
| **1/20** | $12663 | $13833 | $12645 | $12424 | $12714 |
| **2/20** | $12096 | $13104 | $11676 | $11252 | $11966 |
| **3/20** | $9617 | $11085 | $9061 | $8682 | $9338 |
| **4/20** | $10359 | $12100 | $9824 | $9559 | $9967 |
| **5/20** | $10674 | $12193 | $10232 | $9807 | $10538 |
| **6/20** | $11089 | $13090 | $10523 | $10200 | $10715 |
| **7/20** | $11505 | $14259 | $10758 | $10726 | $10641 |
| **8/20** | $12071 | $14575 | $11243 | $10809 | $11518 |
| **9/20** | $12058 | $14341 | $11066 | $10388 | $11603 |
| **10/20** | $12159 | $14636 | $11037 | $10224 | $11725 |
| **11/20** | $13544 | $15990 | $12079 | $11737 | $12205 |
| **12/20** | $14881 | $17166 | $12898 | $12658 | $12903 |
| **1/21** | $15032 | $17692 | $12857 | $12529 | $12951 |
| **2/21** | $15297 | $17827 | $12948 | $12690 | $12968 |
| **3/21** | $15234 | $17558 | $12955 | $12666 | $13006 |
| **4/21** | $15675 | $17995 | $13508 | $12881 | $13896 |
| **5/21** | $16267 | $18412 | $14054 | $13407 | $14454 |
| **6/21** | $16443 | $18444 | $14137 | $13206 | $14840 |
| **7/21** | $16191 | $17203 | $14010 | $13011 | $14793 |
| **8/21** | $16506 | $17653 | $14616 | $13814 | $15161 |
| **9/21** | $16065 | $16952 | $14451 | $13338 | $15340 |
| **10/21** | $16481 | $17119 | $14935 | $13695 | $15956 |
| **11/21** | $16380 | $16421 | $14237 | $13045 | $15221 |
| **12/21** | $16878 | $16729 | $14557 | $13437 | $15448 |
| **1/22** | $16697 | $16413 | $14486 | $13780 | $14904 |
| **2/22** | $16114 | $15922 | $14075 | $13605 | $14248 |
| **3/22** | $15830 | $15562 | $14270 | $14002 | $14228 |
| **4/22** | $15286 | $14697 | $13660 | $13184 | $13842 |
| **5/22** | $15532 | $14761 | $13239 | $13211 | $12960 |
| **6/22** | $14328 | $13781 | $12137 | $11718 | $12268 |
| **7/22** | $14354 | $13747 | $12359 | $12000 | $12421 |
| **8/22** | $14729 | $13804 | $12489 | $12035 | $12645 |
| **9/22** | $13448 | $12186 | $11375 | $11003 | $11475 |
| **10/22** | $13694 | $11807 | $11445 | $11612 | $10980 |
| **11/22** | $14729 | $13559 | $12287 | $12719 | $11549 |
| **12/22** | $14408 | $13368 | $12131 | $12582 | $11379 |
| **1/23** | $15722 | $14424 | $12736 | $13273 | $11892 |
| **2/23** | $15448 | $13488 | $12392 | $12883 | $11597 |
| **3/23** | $15544 | $13897 | $12481 | $12920 | $11731 |
| **4/23** | $15804 | $13739 | $12663 | $13230 | $11791 |
| **5/23** | $15777 | $13509 | $12456 | $12883 | $11715 |
| **6/23** | $16748 | $14022 | $12886 | $13481 | $11981 |
| **7/23** | $17870 | $14894 | $13759 | $14368 | $12815 |
| **8/23** | $17309 | $13977 | $13381 | $13708 | $12699 |
| **9/23** | $16735 | $13611 | $12950 | $13345 | $12218 |
| **10/23** | $15900 | $13083 | $12365 | $12913 | $11509 |
| **11/23** | $17350 | $14130 | $13325 | $14001 | $12327 |
| **12/23** | $18122 | $14682 | $13853 | $14684 | $12703 |
| **1/24** | $18024 | $14000 | $13868 | $14569 | $12829 |
| **2/24** | $18931 | $14666 | $14000 | $14838 | $12837 |
| **3/24** | $19349 | $15030 | $14286 | $14828 | $13370 |
| **4/24** | $19349 | $15097 | $14026 | $14730 | $12971 |
| **5/24** | $19405 | $15182 | $14345 | $14848 | $13458 |
| **6/24** | $20019 | $15781 | $14385 | $14932 | $13456 |
| **7/24** | $20340 | $15828 | $14705 | $15320 | $13706 |
| **8/24** | $20605 | $16083 | $15019 | $15668 | $13979 |
| **9/24** | $20633 | $17157 | $15288 | $16137 | $14062 |
| **10/24** | $19754 | $16394 | $14908 | $15425 | $13983 |
| **11/24** | $19935 | $15805 | $14691 | $15098 | $13873 |
| **12/24** | $20296 | $15784 | $14667 | $15021 | $13899 |
| **1/25** | $20609 | $16066 | $15178 | $15612 | $14320 |
| **2/25** | $20808 | $16144 | $15353 | $15682 | $14585 |
| **3/25** | $21150 | $16246 | $15798 | $16144 | $15002 |
| **4/25** | $21193 | $16459 | $15991 | $16729 | $14825 |
| **5/25** | $22559 | $17161 | $16779 | $17270 | $15807 |
| **6/25** | $23769 | $18193 | $17651 | $18118 | $16673 |
| **7/25** | $24324 | $18548 | $18444 | $18512 | $17809 |
| **8/25** | $24865 | $18786 | $19270 | $19006 | $18929 |
| **9/25** | $25391 | $20130 | $19766 | $19757 | $19155 |
| **10/25** | $26089 | $20971 | $20151 | $20403 | $19276 |

---

## Average Annual Total Returns (%)

---

| | | | |
|:---|:---|:---|:---|
| Fund | *1 Year* | *5 Years* | *10 Years* |
| Global Macro Capital Opportunities Portfolio | 32.07% | 16.49% | 10.06% |
| MSCI Emerging Markets Index (net of foreign withholding taxes) | 27.91% | 7.45% | 7.68% |
| Blended Index<sup>Footnote Reference1</sup> | 35.17% | 12.79% | 7.25% |
| MSCI Emerging Markets Equal Country Weighted Index (net of foreign withholding taxes) | 32.27% | 14.81% | 7.38% |
| MSCI Frontier Markets Index (net of foreign withholding taxes) | 37.85% | 10.45% | 6.78% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Index consists of 50% MSCI Emerging Markets Equal Country Weighted Index and 50% MSCI Frontier Markets Index, rebalanced monthly. |

---

Performance does not reflect the deduction of taxes that an investor would pay on distributions or redemptions. Performance assumes that all dividends and distributions, if any, were reinvested. For more recent performance information, visit www.eatonvance.com/performance.php.

**THE FUND'S PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS.**

## Key Fund Statistics

---

| | |
|:---|:---|
| Total Net Assets | $2611870097 |
| # of Portfolio Holdings | 471 |
| Portfolio Turnover Rate | 54% |
| Total Advisory Fees Paid | $16174112 |

---

## What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.

### Country Allocation (% of total investments)
![Group By Asset Type Chart](g93599i44e04f4765cefb3c84a0.jpg)

---

| | |
|:---|:---|
| **Value** | **Value** |
| Other | 22.4% |
| South Africa | 4.2% |
| United States | 4.3% |
| United Arab Emirates | 4.5% |
| Argentina | 4.5% |
| Chile | 6.0% |
| Taiwan | 6.9% |
| India | 8.0% |
| Greece | 10.8% |
| Vietnam | 13.7% |
| South Korea | 14.7% |

---

#### Top Ten Holdings (% of total investments)<sup>Footnote Reference a</sup>

---

| | |
|:---|:---|
| Samsung Electronics Co. Ltd. | 5.2% |
| Taiwan Semiconductor Manufacturing Co. Ltd. | 4.2% |
| SK Hynix, Inc. | 2.9% |
| Bank of Cyprus Holdings PLC | 2.7% |
| National Bank of Greece SA | 1.8% |
| Nova Ljubljanska Banka DD, GDR | 1.5% |
| Eurobank Ergasias Services & Holdings SA, Class A | 1.5% |
| Kuwait Finance House KSCP | 1.3% |
| National Bank of Kuwait SAKP | 1.3% |
| Grupo Financiero Galicia SA, ADR | 1.3% |
| Total | 23.7% |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;&nbsp;Footnote<sup>a</sup> | &nbsp;&nbsp;&nbsp;Excluding cash equivalents |

---

## Additional Information
![An image of a QR code that, when scanned, navigates the user to the following URL: https://www.eatonvance.com/open-end-mutual-fund-documents.php](g93599i785be5adc1715cdc8b08.jpg)

If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/open-end-mutual-fund-documents.php and select Eaton Vance Emerging and Frontier Countries Equity Fund. For proxy information, please visit www.eatonvance.com/proxyvoting.

## Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-262-1122 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.

#### Not FDIC Insured \| May Lose Value \| No Bank Guarantee
Annual Shareholder Report October 31, 2025

# GMCO Port.-TSR-AR

------

(b) Not applicable

#### Item 2. Code of Ethics
The registrant (sometimes referred to as the "Fund") has adopted a code of ethics applicable to its Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. The registrant undertakes to provide a copy of such code of ethics to any person upon request, without charge, by calling 1-800-262-1122. The registrant has not amended the code of ethics as described in Form N-CSR during the period covered by this report. The registrant has not granted any waiver, including an implicit waiver, from a provision of the code of ethics as described in Form N-CSR during the period covered by this report.

#### Item 3. Audit Committee Financial Expert
The registrant's Board of Trustees has determined that George J. Gorman, an "independent" Trustee, is an "audit committee financial expert" serving on its audit committee. Under applicable securities laws, a person who is determined to be an audit committee financial expert will not be deemed an "expert" for any purpose, including without limitation for the purposes of Section 11 of the Securities Act of 1933, as a result of being designated or identified as an audit committee financial expert. The designation or identification of a person as an audit committee financial expert does not impose on such person any duties, obligations, or the liabilities that are greater than the duties, obligations, and liabilities imposed on such person as a member of the audit committee and Board of Trustees in the absence of such designation or identification.

#### Item 4. Principal Accountant Fees and Services

#### (a)-(d)
The following table presents the aggregate fees billed to the registrant for the registrant's fiscal years ended October 31, 2024 and October 31, 2025 by the registrant's principal accountant, Deloitte & Touche LLP ("D&T"), for professional services rendered for the audit of the registrant's annual financial statements and fees billed for other services rendered by D&T during such periods.

---

| | | |
|:---|:---|:---|
| **Fiscal Years Ended** | **10/31/24** | **10/31/25** |
|  Audit Fees | $65007 | $64660 |
|  Audit-Related Fees<sup>(1)</sup> | $0 | $0 |
|  Tax Fees<sup>(2)</sup> | $0 | $0 |
|  All Other Fees<sup>(3)</sup> | $0 | $107 |
|  Total | $65007 | $64767 |

---

<sup>(1)</sup> Audit-related fees consist of the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit of the registrant's financial statements and are not reported under the category of audit fees.

<sup>(2)</sup> Tax fees consist of the aggregate fees billed for professional services rendered by the principal accountant relating to tax compliance, tax advice, and tax planning and specifically include fees for tax return preparation and other related tax compliance/planning matters.

<sup>(3)</sup> All other fees consist of the aggregate fees billed for products and services provided by the principal accountant other than audit, audit-related, and tax services.

(e)(1) The registrant's audit committee has adopted policies and procedures relating to the pre-approval of services provided by the registrant's principal accountant (the "Pre-Approval Policies"). The Pre-Approval Policies establish a framework intended to assist the audit committee in the proper discharge of its pre-approval responsibilities. As a general matter, the Pre-Approval Policies (i) specify certain types of audit, audit-related, tax, and other services determined to be pre-approved by the audit committee; and (ii) delineate specific procedures governing the mechanics of the pre-approval process, including the approval and monitoring of audit and non-audit service fees. Unless a service is specifically pre-approved under the Pre-Approval Policies, it must be separately pre-approved by the audit committee.

------

The Pre-Approval Policies and the types of audit and non-audit services pre-approved therein must be reviewed and ratified by the registrant's audit committee at least annually. The registrant's audit committee maintains full responsibility for the appointment, compensation, and oversight of the work of the registrant's principal accountant.

(e)(2) No services described in paragraphs (b)-(d) above were approved by the registrant's audit committee pursuant to the "de minimis exception" set forth in Rule 2-01(c)(7)(i)(C) of Regulation S-X.

(f) Not applicable.

(g) The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the registrant by D&T for the registrant's fiscal years ended October 31, 2024 and October 31, 2025; and (ii) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the Eaton Vance organization by D&T for the same time periods.

---

| | | |
|:---|:---|:---|
| **Fiscal Years Ended** | **10/31/24** | **10/31/25** |
|  **Registrant** | $0 | $107 |
|  **Eaton Vance<sup>(1)</sup>** | $18490 | $18490 |

---

<sup>(1)</sup> The investment adviser to the registrant, as well as any of its affiliates that provide ongoing services to the registrant, are subsidiaries of Morgan Stanley.

(h) The registrant's audit committee has considered whether the provision by the registrant's principal accountant of non-audit services to the registrant's investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.

#### Item 5. Audit Committee of Listed Registrants
Not applicable.

#### Item 6. Schedule of Investments
(a) Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 7 of this Form N-CSR.

(b) Not applicable.

#### Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments

------

Common Stocks — 92.5%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Argentina — 4.4% | Argentina — 4.4% | Argentina — 4.4% |
| Banco BBVA Argentina SA ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;405613 | &nbsp;&nbsp;$6721007 |
| Banco Macro SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220609 | &nbsp;&nbsp;&nbsp;&nbsp; 19956290 |
| Central Puerto SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229421 | &nbsp;&nbsp;&nbsp;&nbsp; 3569791 |
| Corp. America Airports SA<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73279 | &nbsp;&nbsp;&nbsp;&nbsp; 1623863 |
| Cresud SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77440 | &nbsp;&nbsp;&nbsp;&nbsp; 957933 |
| Empresa Distribuidora Y Comercializadora Norte ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46228 | &nbsp;&nbsp;&nbsp;&nbsp; 1539855 |
| Grupo Financiero Galicia SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;561880 | &nbsp;&nbsp;&nbsp;&nbsp; 33223964 |
| Grupo Supervielle SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;274546 | &nbsp;&nbsp;&nbsp;&nbsp; 3409861 |
| IRSA Inversiones y Representaciones SA ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;58503 | &nbsp;&nbsp;&nbsp;&nbsp; 906796 |
| Loma Negra Cia Industrial Argentina SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120549 | &nbsp;&nbsp;&nbsp;&nbsp; 1322423 |
| Pampa Energia SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93364 | &nbsp;&nbsp;&nbsp;&nbsp; 8010631 |
| Telecom Argentina SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;204979 | &nbsp;&nbsp;&nbsp;&nbsp; 2306014 |
| Transportadora de Gas del Sur SA, Class B ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159480 | &nbsp;&nbsp;&nbsp;&nbsp; 4964612 |
| Vista Energy SAB de CV ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180625 | &nbsp;&nbsp;&nbsp;&nbsp; 8751281 |
| YPF SA ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;462813 | &nbsp;&nbsp;&nbsp;&nbsp; 16860278 |
|  |  | &nbsp;&nbsp;**$114124599** |
| Belgium — 0.3% | Belgium — 0.3% | Belgium — 0.3% |
| Cenergy Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;501707 | &nbsp;&nbsp;$8313074 |
|  |  | &nbsp;&nbsp;**$8313074** |
| Brazil — 0.1% | Brazil — 0.1% | Brazil — 0.1% |
| Adecoagro SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64396 | &nbsp;&nbsp;$519032 |
| Arcos Dorados Holdings, Inc., Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;289298 | &nbsp;&nbsp;&nbsp;&nbsp; 2074266 |
|  |  | &nbsp;&nbsp;**$2593298** |
| Bulgaria — 0.0%<sup>†</sup> | Bulgaria — 0.0%<sup>†</sup> | Bulgaria — 0.0%<sup>†</sup> |
| Eurohold Bulgaria AD<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;944905 | &nbsp;&nbsp;$988059 |
|  |  | &nbsp;&nbsp;**$988059** |
| Canada — 0.2% | Canada — 0.2% | Canada — 0.2% |
| Amaroq Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;3303400 | &nbsp;&nbsp;$3675729 |
| Lithium Argentina AG<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236665 | &nbsp;&nbsp;&nbsp;&nbsp; 996360 |
|  |  | &nbsp;&nbsp;**$4672089** |
| Chile — 5.9% | Chile — 5.9% | Chile — 5.9% |
| Banco de Chile | 148413700 | &nbsp;&nbsp;$25678854 |
| Banco de Credito e Inversiones SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291469 | &nbsp;&nbsp;&nbsp;&nbsp; 14958561 |
| Banco Santander Chile | 219600100 | &nbsp;&nbsp;&nbsp;&nbsp; 15866791 |
| Cencosud SA | &nbsp;&nbsp;&nbsp;&nbsp;4176800 | &nbsp;&nbsp;&nbsp;&nbsp; 12937272 |
| Empresas CMPC SA | &nbsp;&nbsp;&nbsp;&nbsp;3778200 | &nbsp;&nbsp;&nbsp;&nbsp; 5456352 |
| Empresas COPEC SA | &nbsp;&nbsp;&nbsp;&nbsp;1288000 | &nbsp;&nbsp;&nbsp;&nbsp; 9200935 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Chile (continued) | Chile (continued) | Chile (continued) |
| Enel Americas SA | 37256118 | &nbsp;&nbsp;$3522242 |
| Enel Chile SA | 93691114 | &nbsp;&nbsp;&nbsp;&nbsp; 7151236 |
| Falabella SA | &nbsp;&nbsp;&nbsp;&nbsp;2127800 | &nbsp;&nbsp;&nbsp;&nbsp; 13398698 |
| Latam Airlines Group SA | 823778422 | &nbsp;&nbsp;&nbsp;&nbsp; 18721771 |
| Plaza SA | &nbsp;&nbsp;&nbsp;&nbsp;1338000 | &nbsp;&nbsp;&nbsp;&nbsp; 3765104 |
| Sociedad Quimica y Minera de Chile SA, Series B, PFC Shares<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469579 | &nbsp;&nbsp;&nbsp;&nbsp; 22846924 |
|  |  | &nbsp;&nbsp;**$153504740** |
| China — 1.3% | China — 1.3% | China — 1.3% |
| Alibaba Group Holding Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;785600 | &nbsp;&nbsp;$16716575 |
| Ganfeng Lithium Group Co. Ltd., Class H<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2800 | &nbsp;&nbsp;&nbsp;&nbsp; 18490 |
| Tencent Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212600 | &nbsp;&nbsp;&nbsp;&nbsp; 17269009 |
|  |  | &nbsp;&nbsp;**$34004074** |
| Cyprus — 3.1% | Cyprus — 3.1% | Cyprus — 3.1% |
| Bank of Cyprus Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp;7448732 | &nbsp;&nbsp;$68549471 |
| Theon International PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;337000 | &nbsp;&nbsp;&nbsp;&nbsp; 11880428 |
|  |  | &nbsp;&nbsp;**$80429899** |
| Georgia — 1.5% | Georgia — 1.5% | Georgia — 1.5% |
| Georgia Capital PLC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816886 | &nbsp;&nbsp;$27798985 |
| Lion Finance Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52183 | &nbsp;&nbsp;&nbsp;&nbsp; 5493501 |
| TBC Bank Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108473 | &nbsp;&nbsp;&nbsp;&nbsp; 6214648 |
|  |  | &nbsp;&nbsp;**$39507134** |
| Greece — 10.5% | Greece — 10.5% | Greece — 10.5% |
| Aegean Airlines SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118953 | &nbsp;&nbsp;$1805586 |
| Alpha Bank SA | &nbsp;&nbsp;&nbsp;&nbsp;8023754 | &nbsp;&nbsp;&nbsp;&nbsp; 31454792 |
| Athens International Airport SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;97384 | &nbsp;&nbsp;&nbsp;&nbsp; 1124172 |
| Athens Water Supply & Sewage Co. SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106068 | &nbsp;&nbsp;&nbsp;&nbsp; 848873 |
| Autohellas Tourist & Trading SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49238 | &nbsp;&nbsp;&nbsp;&nbsp; 627867 |
| Avax SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281000 | &nbsp;&nbsp;&nbsp;&nbsp; 776278 |
| Ellaktor SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;333572 | &nbsp;&nbsp;&nbsp;&nbsp; 598562 |
| Eurobank Ergasias Services and Holdings SA, Class A | &nbsp;&nbsp;&nbsp;&nbsp;9679687 | &nbsp;&nbsp;&nbsp;&nbsp; 36411141 |
| GEK TERNA SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;253325 | &nbsp;&nbsp;&nbsp;&nbsp; 6761217 |
| Hellenic Exchanges - Athens Stock Exchange SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87000 | &nbsp;&nbsp;&nbsp;&nbsp; 625654 |
| Hellenic Telecommunications Organization SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;621243 | &nbsp;&nbsp;&nbsp;&nbsp; 11666196 |
| Helleniq Energy Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;288405 | &nbsp;&nbsp;&nbsp;&nbsp; 2536680 |
| Holding Co. ADMIE IPTO SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;711857 | &nbsp;&nbsp;&nbsp;&nbsp; 2447786 |
| Ideal Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;394993 | &nbsp;&nbsp;&nbsp;&nbsp; 2674225 |
| JUMBO SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403637 | &nbsp;&nbsp;&nbsp;&nbsp; 12808484 |
| LAMDA Development SA<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232506 | &nbsp;&nbsp;&nbsp;&nbsp; 1983148 |
| Metlen Energy & Metals PLC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361731 | &nbsp;&nbsp;&nbsp;&nbsp; 18409562 |
| Motor Oil (Hellas) Corinth Refineries SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207214 | &nbsp;&nbsp;&nbsp;&nbsp; 6209694 |
| National Bank of Greece SA | &nbsp;&nbsp;&nbsp;&nbsp;3056224 | &nbsp;&nbsp;&nbsp;&nbsp; 44921958 |

---

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Greece (continued) | Greece (continued) | Greece (continued) |
| Noval Property Real Estate Investment Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;413837 | &nbsp;&nbsp;$1263583 |
| OPAP SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;658096 | &nbsp;&nbsp;&nbsp;&nbsp; 13605621 |
| Optima bank SA | &nbsp;&nbsp;&nbsp;&nbsp;1389042 | &nbsp;&nbsp;&nbsp;&nbsp; 12863614 |
| Piraeus Financial Holdings SA | &nbsp;&nbsp;&nbsp;&nbsp;4251258 | &nbsp;&nbsp;&nbsp;&nbsp; 33203220 |
| Public Power Corp. SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;768290 | &nbsp;&nbsp;&nbsp;&nbsp; 13343011 |
| Qualco Group SA<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1030636 | &nbsp;&nbsp;&nbsp;&nbsp; 6392585 |
| Sarantis SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;126905 | &nbsp;&nbsp;&nbsp;&nbsp; 1844837 |
| Titan SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161695 | &nbsp;&nbsp;&nbsp;&nbsp; 7239930 |
| Trade Estates Real Estate Investment SA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456600 | &nbsp;&nbsp;&nbsp;&nbsp; 929114 |
|  |  | &nbsp;&nbsp;**$275377390** |
| Iceland — 1.6% | Iceland — 1.6% | Iceland — 1.6% |
| Arion Banki Hf.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6550000 | &nbsp;&nbsp;$9171518 |
| Eimskipafelag Islands Hf. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;707000 | &nbsp;&nbsp;&nbsp;&nbsp; 1734922 |
| Festi Hf. | &nbsp;&nbsp;&nbsp;&nbsp;1903000 | &nbsp;&nbsp;&nbsp;&nbsp; 4784678 |
| Hagar Hf. | &nbsp;&nbsp;&nbsp;&nbsp;5787000 | &nbsp;&nbsp;&nbsp;&nbsp; 5107150 |
| Hampidjan Hf. | &nbsp;&nbsp;&nbsp;&nbsp;2363000 | &nbsp;&nbsp;&nbsp;&nbsp; 2200747 |
| Heimar Hf. | 10285000 | &nbsp;&nbsp;&nbsp;&nbsp; 3093888 |
| Islandsbanki Hf. | &nbsp;&nbsp;&nbsp;&nbsp;7273000 | &nbsp;&nbsp;&nbsp;&nbsp; 7028700 |
| Kvika banki Hf. | 26333000 | &nbsp;&nbsp;&nbsp;&nbsp; 3664211 |
| Olgerdin Egill Skallagrims Hf.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;8309000 | &nbsp;&nbsp;&nbsp;&nbsp; 1091116 |
| Reitir fasteignafelag Hf. | &nbsp;&nbsp;&nbsp;&nbsp;3269000 | &nbsp;&nbsp;&nbsp;&nbsp; 3251517 |
| Sjova-Almennar Tryggingar Hf. | &nbsp;&nbsp;&nbsp;&nbsp;5203000 | &nbsp;&nbsp;&nbsp;&nbsp; 1846328 |
|  |  | &nbsp;&nbsp;**$42974775** |
| India — 7.8% | India — 7.8% | India — 7.8% |
| Adani Energy Solutions Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44159 | &nbsp;&nbsp;$490090 |
| Adani Green Energy Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14178 | &nbsp;&nbsp;&nbsp;&nbsp; 181871 |
| Affle 3i Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99927 | &nbsp;&nbsp;&nbsp;&nbsp; 2169530 |
| Ambuja Cements Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340300 | &nbsp;&nbsp;&nbsp;&nbsp; 2163964 |
| Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34719 | &nbsp;&nbsp;&nbsp;&nbsp; 3004641 |
| Asian Paints Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88711 | &nbsp;&nbsp;&nbsp;&nbsp; 2510719 |
| Avenue Supermarts Ltd.<sup>(1)(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10455 | &nbsp;&nbsp;&nbsp;&nbsp; 488848 |
| Axis Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191077 | &nbsp;&nbsp;&nbsp;&nbsp; 2651672 |
| Bajaj Finance Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;221260 | &nbsp;&nbsp;&nbsp;&nbsp; 2598611 |
| Bharti Airtel Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285405 | &nbsp;&nbsp;&nbsp;&nbsp; 6608890 |
| Brightcom Group Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2938392 | &nbsp;&nbsp;&nbsp;&nbsp; 449386 |
| Cipla Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24973 | &nbsp;&nbsp;&nbsp;&nbsp; 422289 |
| Dabur India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;262200 | &nbsp;&nbsp;&nbsp;&nbsp; 1439443 |
| Divi's Laboratories Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6252 | &nbsp;&nbsp;&nbsp;&nbsp; 474644 |
| DLF Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;171000 | &nbsp;&nbsp;&nbsp;&nbsp; 1455687 |
| Dr. Reddy's Laboratories Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45130 | &nbsp;&nbsp;&nbsp;&nbsp; 607236 |
| Easy Trip Planners Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1465292 | &nbsp;&nbsp;&nbsp;&nbsp; 130849 |
| Eicher Motors Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16790 | &nbsp;&nbsp;&nbsp;&nbsp; 1324100 |
| Eternal Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;4041510 | &nbsp;&nbsp;&nbsp;&nbsp; 14423822 |
| Fortis Healthcare Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118900 | &nbsp;&nbsp;&nbsp;&nbsp; 1369414 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| India (continued) | India (continued) | India (continued) |
| FSN E-Commerce Ventures Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1617207 | &nbsp;&nbsp;$4513000 |
| GAIL (India) Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88026 | &nbsp;&nbsp;&nbsp;&nbsp; 181097 |
| Godrej Consumer Products Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54300 | &nbsp;&nbsp;&nbsp;&nbsp; 683879 |
| Godrej Properties Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23800 | &nbsp;&nbsp;&nbsp;&nbsp; 612804 |
| Grasim Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14023 | &nbsp;&nbsp;&nbsp;&nbsp; 456425 |
| Happiest Minds Technologies Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138050 | &nbsp;&nbsp;&nbsp;&nbsp; 801021 |
| Havells India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9907 | &nbsp;&nbsp;&nbsp;&nbsp; 166704 |
| HCL Technologies Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77742 | &nbsp;&nbsp;&nbsp;&nbsp; 1348912 |
| HDFC Asset Management Co. Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22400 | &nbsp;&nbsp;&nbsp;&nbsp; 1356822 |
| HDFC Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1091638 | &nbsp;&nbsp;&nbsp;&nbsp; 12137750 |
| HDFC Life Insurance Co. Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;382900 | &nbsp;&nbsp;&nbsp;&nbsp; 3153891 |
| Hero MotoCorp Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23400 | &nbsp;&nbsp;&nbsp;&nbsp; 1460635 |
| Hindalco Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;214409 | &nbsp;&nbsp;&nbsp;&nbsp; 2044992 |
| Hindustan Unilever Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114830 | &nbsp;&nbsp;&nbsp;&nbsp; 3189087 |
| ICICI Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;504874 | &nbsp;&nbsp;&nbsp;&nbsp; 7650172 |
| ICICI Prudential Life Insurance Co. Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219900 | &nbsp;&nbsp;&nbsp;&nbsp; 1463441 |
| IDFC First Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2276000 | &nbsp;&nbsp;&nbsp;&nbsp; 2095667 |
| IndiaMart InterMesh Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;57341 | &nbsp;&nbsp;&nbsp;&nbsp; 1589529 |
| Indian Railway Catering & Tourism Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;319136 | &nbsp;&nbsp;&nbsp;&nbsp; 2582534 |
| Info Edge India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31905 | &nbsp;&nbsp;&nbsp;&nbsp; 495027 |
| Infosys Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;634901 | &nbsp;&nbsp;&nbsp;&nbsp; 10578777 |
| Inox Wind Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19962 | &nbsp;&nbsp;&nbsp;&nbsp; 34866 |
| Intellect Design Arena Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150656 | &nbsp;&nbsp;&nbsp;&nbsp; 1922330 |
| ITC Hotels Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4344 | &nbsp;&nbsp;&nbsp;&nbsp; 10604 |
| ITC Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;573245 | &nbsp;&nbsp;&nbsp;&nbsp; 2713471 |
| Jindal Steel Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142691 | &nbsp;&nbsp;&nbsp;&nbsp; 1713133 |
| Jio Financial Services Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44476 | &nbsp;&nbsp;&nbsp;&nbsp; 153719 |
| JSW Energy Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100600 | &nbsp;&nbsp;&nbsp;&nbsp; 597372 |
| JSW Steel Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147783 | &nbsp;&nbsp;&nbsp;&nbsp; 2006731 |
| Jubilant Foodworks Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;369318 | &nbsp;&nbsp;&nbsp;&nbsp; 2485761 |
| Kotak Mahindra Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84204 | &nbsp;&nbsp;&nbsp;&nbsp; 1994691 |
| KPIT Technologies Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119000 | &nbsp;&nbsp;&nbsp;&nbsp; 1562893 |
| Larsen & Toubro Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76893 | &nbsp;&nbsp;&nbsp;&nbsp; 3488976 |
| Lodha Developers Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158400 | &nbsp;&nbsp;&nbsp;&nbsp; 2139707 |
| LTIMindtree Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3328 | &nbsp;&nbsp;&nbsp;&nbsp; 212882 |
| Mahindra & Mahindra Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110746 | &nbsp;&nbsp;&nbsp;&nbsp; 4348781 |
| Mankind Pharma Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34600 | &nbsp;&nbsp;&nbsp;&nbsp; 928757 |
| Marico Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182100 | &nbsp;&nbsp;&nbsp;&nbsp; 1476138 |
| Maruti Suzuki India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21857 | &nbsp;&nbsp;&nbsp;&nbsp; 3980500 |
| Max Healthcare Institute Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111900 | &nbsp;&nbsp;&nbsp;&nbsp; 1446574 |
| Mphasis Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3178 | &nbsp;&nbsp;&nbsp;&nbsp; 98782 |
| Muthoot Finance Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;39700 | &nbsp;&nbsp;&nbsp;&nbsp; 1422457 |
| Nazara Technologies Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;247148 | &nbsp;&nbsp;&nbsp;&nbsp; 742785 |
| Nestle India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55406 | &nbsp;&nbsp;&nbsp;&nbsp; 794107 |
| Nippon Life India Asset Management Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143900 | &nbsp;&nbsp;&nbsp;&nbsp; 1416979 |
| NTPC Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;365456 | &nbsp;&nbsp;&nbsp;&nbsp; 1386172 |

---

*13*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| India (continued) | India (continued) | India (continued) |
| Oberoi Realty Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80800 | &nbsp;&nbsp;$1617696 |
| Oil & Natural Gas Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352901 | &nbsp;&nbsp;&nbsp;&nbsp; 1015560 |
| One 97 Communications Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101200 | &nbsp;&nbsp;&nbsp;&nbsp; 1483877 |
| Persistent Systems Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96300 | &nbsp;&nbsp;&nbsp;&nbsp; 6408584 |
| Petronet LNG Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28740 | &nbsp;&nbsp;&nbsp;&nbsp; 91004 |
| PI Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22263 | &nbsp;&nbsp;&nbsp;&nbsp; 897007 |
| Power Grid Corp. of India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;390517 | &nbsp;&nbsp;&nbsp;&nbsp; 1267026 |
| Reliance Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;591110 | &nbsp;&nbsp;&nbsp;&nbsp; 9890950 |
| Route Mobile Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;49350 | &nbsp;&nbsp;&nbsp;&nbsp; 395921 |
| SBI Life Insurance Co. Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70300 | &nbsp;&nbsp;&nbsp;&nbsp; 1546746 |
| Shriram Finance Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;125500 | &nbsp;&nbsp;&nbsp;&nbsp; 1058341 |
| Spandana Sphoorty Financial Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15205 | &nbsp;&nbsp;&nbsp;&nbsp; 21505 |
| SRF Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5781 | &nbsp;&nbsp;&nbsp;&nbsp; 190813 |
| State Bank of India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;295592 | &nbsp;&nbsp;&nbsp;&nbsp; 3120700 |
| Sun Pharmaceutical Industries Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72699 | &nbsp;&nbsp;&nbsp;&nbsp; 1385849 |
| Tanla Platforms Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101227 | &nbsp;&nbsp;&nbsp;&nbsp; 695621 |
| Tata Consultancy Services Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191359 | &nbsp;&nbsp;&nbsp;&nbsp; 6585947 |
| Tata Consumer Products Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205547 | &nbsp;&nbsp;&nbsp;&nbsp; 2696482 |
| Tata Elxsi Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1296 | &nbsp;&nbsp;&nbsp;&nbsp; 79602 |
| Tata Motors Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101464 | &nbsp;&nbsp;&nbsp;&nbsp; 298033 |
| Tata Motors Passenger Vehicles Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;101464 | &nbsp;&nbsp;&nbsp;&nbsp; 468310 |
| Tata Steel Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1171033 | &nbsp;&nbsp;&nbsp;&nbsp; 2410004 |
| Tech Mahindra Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42067 | &nbsp;&nbsp;&nbsp;&nbsp; 674282 |
| Titan Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33836 | &nbsp;&nbsp;&nbsp;&nbsp; 1427806 |
| Trent Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14564 | &nbsp;&nbsp;&nbsp;&nbsp; 769303 |
| Tube Investments of India Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4113 | &nbsp;&nbsp;&nbsp;&nbsp; 139915 |
| TVS Motor Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74600 | &nbsp;&nbsp;&nbsp;&nbsp; 2946308 |
| UltraTech Cement Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20809 | &nbsp;&nbsp;&nbsp;&nbsp; 2798195 |
| UPL Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20280 | &nbsp;&nbsp;&nbsp;&nbsp; 164475 |
| Varun Beverages Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;351047 | &nbsp;&nbsp;&nbsp;&nbsp; 1855069 |
| Wipro Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2410642 | &nbsp;&nbsp;&nbsp;&nbsp; 6528468 |
|  |  | &nbsp;&nbsp;**$203536439** |
| Kuwait — 3.1% | Kuwait — 3.1% | Kuwait — 3.1% |
| Boubyan Bank KSCP | &nbsp;&nbsp;&nbsp;&nbsp;1851250 | &nbsp;&nbsp;$4319777 |
| Gulf Bank KSCP | &nbsp;&nbsp;&nbsp;&nbsp;2379524 | &nbsp;&nbsp;&nbsp;&nbsp; 2718646 |
| Kuwait Finance House KSCP | 13068480 | &nbsp;&nbsp;&nbsp;&nbsp; 34215134 |
| Mabanee Co. KPSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;819520 | &nbsp;&nbsp;&nbsp;&nbsp; 2691403 |
| Mobile Telecommunications Co. KSCP | &nbsp;&nbsp;&nbsp;&nbsp;2324600 | &nbsp;&nbsp;&nbsp;&nbsp; 4017401 |
| National Bank of Kuwait SAKP | &nbsp;&nbsp;&nbsp;&nbsp;9989636 | &nbsp;&nbsp;&nbsp;&nbsp; 34211971 |
|  |  | &nbsp;&nbsp;**$82174332** |
| Luxembourg — 0.3% | Luxembourg — 0.3% | Luxembourg — 0.3% |
| Alvotech SA<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;871300 | &nbsp;&nbsp;$6583817 |
| Reinet Investments SCA | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59600 | &nbsp;&nbsp;&nbsp;&nbsp; 1908776 |
|  |  | &nbsp;&nbsp;**$8492593** |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Malaysia — 0.0%<sup>†</sup> | Malaysia — 0.0%<sup>†</sup> | Malaysia — 0.0%<sup>†</sup> |
| Gamuda Bhd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30405 | &nbsp;&nbsp;$36517 |
| Kuala Lumpur Kepong Bhd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;888 | &nbsp;&nbsp;&nbsp;&nbsp; 4343 |
| QL Resources Bhd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 743 |
|  |  | &nbsp;&nbsp;**$41603** |
| Myanmar — 0.1% | Myanmar — 0.1% | Myanmar — 0.1% |
| Yoma Strategic Holdings Ltd.<sup>(1)</sup> | 30000000 | &nbsp;&nbsp;$1890212 |
|  |  | &nbsp;&nbsp;**$1890212** |
| Nigeria — 1.8% | Nigeria — 1.8% | Nigeria — 1.8% |
| Access Holdings PLC | 180636000 | &nbsp;&nbsp;$3076532 |
| Dangote Cement PLC | &nbsp;&nbsp;&nbsp;&nbsp;6821000 | &nbsp;&nbsp;&nbsp;&nbsp; 2863889 |
| Fidelity Bank PLC | 201131544 | &nbsp;&nbsp;&nbsp;&nbsp; 2673531 |
| First HoldCo PLC | 126904487 | &nbsp;&nbsp;&nbsp;&nbsp; 2798241 |
| Guaranty Trust Holding Co. PLC | 112413000 | &nbsp;&nbsp;&nbsp;&nbsp; 7014694 |
| Guaranty Trust Holding Co. PLC | 40000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2695160 |
| MTN Nigeria Communications PLC<sup>(1)</sup> | 10899410 | &nbsp;&nbsp;&nbsp;&nbsp; 3773529 |
| Nestle Nigeria PLC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;370301 | &nbsp;&nbsp;&nbsp;&nbsp; 465587 |
| Nigerian Breweries PLC<sup>(1)</sup> | 38842000 | &nbsp;&nbsp;&nbsp;&nbsp; 1943600 |
| Oando PLC<sup>(1)</sup> | 37158943 | &nbsp;&nbsp;&nbsp;&nbsp; 1253215 |
| Presco PLC | &nbsp;&nbsp;&nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp; 1587706 |
| SEPLAT Energy PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;835000 | &nbsp;&nbsp;&nbsp;&nbsp; 3493324 |
| Stanbic IBTC Holdings PLC | 18733000 | &nbsp;&nbsp;&nbsp;&nbsp; 1474264 |
| Transnational Corp. of Nigeria PLC | 10663709 | &nbsp;&nbsp;&nbsp;&nbsp; 373096 |
| United Bank for Africa PLC | 132464318 | &nbsp;&nbsp;&nbsp;&nbsp; 3708684 |
| Zenith Bank PLC | 146664000 | &nbsp;&nbsp;&nbsp;&nbsp; 6452684 |
|  |  | &nbsp;&nbsp;**$45647736** |
| Oman — 1.0% | Oman — 1.0% | Oman — 1.0% |
| Asyad Shipping Co. | &nbsp;&nbsp;&nbsp;&nbsp;3677800 | &nbsp;&nbsp;$1664079 |
| Bank Muscat SAOG | &nbsp;&nbsp;&nbsp;&nbsp;6093600 | &nbsp;&nbsp;&nbsp;&nbsp; 5351638 |
| Bank Nizwa SAOG | &nbsp;&nbsp;&nbsp;&nbsp;3684900 | &nbsp;&nbsp;&nbsp;&nbsp; 987100 |
| National Bank of Oman SAOG | &nbsp;&nbsp;&nbsp;&nbsp;1116300 | &nbsp;&nbsp;&nbsp;&nbsp; 1057709 |
| Oman Telecommunications Co. SAOG | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;998800 | &nbsp;&nbsp;&nbsp;&nbsp; 2693282 |
| Ominvest SAOG | &nbsp;&nbsp;&nbsp;&nbsp;1152500 | &nbsp;&nbsp;&nbsp;&nbsp; 936080 |
| OQ Base Industries SAOG | &nbsp;&nbsp;&nbsp;&nbsp;5027100 | &nbsp;&nbsp;&nbsp;&nbsp; 2273155 |
| OQ Exploration & Production SAOG | &nbsp;&nbsp;&nbsp;&nbsp;5151000 | &nbsp;&nbsp;&nbsp;&nbsp; 4730960 |
| OQ Gas Networks SAOC | &nbsp;&nbsp;&nbsp;&nbsp;6403400 | &nbsp;&nbsp;&nbsp;&nbsp; 3064352 |
| Sohar International Bank SAOG | &nbsp;&nbsp;&nbsp;&nbsp;9616900 | &nbsp;&nbsp;&nbsp;&nbsp; 4003658 |
|  |  | &nbsp;&nbsp;**$26762013** |
| Pakistan — 1.7% | Pakistan — 1.7% | Pakistan — 1.7% |
| Bank Al Habib Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2213300 | &nbsp;&nbsp;$1519820 |
| Bank Alfalah Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1687000 | &nbsp;&nbsp;&nbsp;&nbsp; 669787 |
| Engro Fertilizers Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1892500 | &nbsp;&nbsp;&nbsp;&nbsp; 1400806 |
| Engro Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2058642 | &nbsp;&nbsp;&nbsp;&nbsp; 1604807 |

---

*14*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Pakistan (continued) | Pakistan (continued) | Pakistan (continued) |
| Fauji Fertilizer Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1778200 | &nbsp;&nbsp;$3100894 |
| Habib Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1895600 | &nbsp;&nbsp;&nbsp;&nbsp; 2046103 |
| Hub Power Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;3273300 | &nbsp;&nbsp;&nbsp;&nbsp; 2530793 |
| Interloop Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1375600 | &nbsp;&nbsp;&nbsp;&nbsp; 405857 |
| Lucky Cement Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1438000 | &nbsp;&nbsp;&nbsp;&nbsp; 2357207 |
| Mari Energies Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;593000 | &nbsp;&nbsp;&nbsp;&nbsp; 1479238 |
| MCB Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;911200 | &nbsp;&nbsp;&nbsp;&nbsp; 1178414 |
| Millat Tractors Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;397311 | &nbsp;&nbsp;&nbsp;&nbsp; 710776 |
| Oil & Gas Development Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1895300 | &nbsp;&nbsp;&nbsp;&nbsp; 1739635 |
| Pakistan Oilfields Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;344100 | &nbsp;&nbsp;&nbsp;&nbsp; 729459 |
| Pakistan Petroleum Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1883000 | &nbsp;&nbsp;&nbsp;&nbsp; 1257123 |
| Pakistan State Oil Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;786200 | &nbsp;&nbsp;&nbsp;&nbsp; 1257053 |
| SUI Northern Gas Pipeline | &nbsp;&nbsp;&nbsp;&nbsp;1067100 | &nbsp;&nbsp;&nbsp;&nbsp; 495304 |
| Systems Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1830500 | &nbsp;&nbsp;&nbsp;&nbsp; 1004254 |
| TRG Pakistan<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1518600 | &nbsp;&nbsp;&nbsp;&nbsp; 396632 |
| VEON Ltd. ADR<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;367388 | &nbsp;&nbsp;&nbsp;&nbsp; 17689732 |
|  |  | &nbsp;&nbsp;**$43573694** |
| Philippines — 2.3% | Philippines — 2.3% | Philippines — 2.3% |
| Ayala Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368880 | &nbsp;&nbsp;$2931436 |
| Ayala Land, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;5410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1827470 |
| Bank of the Philippine Islands | &nbsp;&nbsp;&nbsp;&nbsp;3390710 | &nbsp;&nbsp;&nbsp;&nbsp; 6072146 |
| BDO Unibank, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3684500 | &nbsp;&nbsp;&nbsp;&nbsp; 8356231 |
| Converge Information & Communications Technology Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;3062600 | &nbsp;&nbsp;&nbsp;&nbsp; 663065 |
| GT Capital Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177870 | &nbsp;&nbsp;&nbsp;&nbsp; 1649852 |
| International Container Terminal Services, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;1797260 | &nbsp;&nbsp;&nbsp;&nbsp; 16210178 |
| JG Summit Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;4628100 | &nbsp;&nbsp;&nbsp;&nbsp; 1882310 |
| Jollibee Foods Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;921020 | &nbsp;&nbsp;&nbsp;&nbsp; 3388600 |
| Metropolitan Bank & Trust Co. | &nbsp;&nbsp;&nbsp;&nbsp;2717440 | &nbsp;&nbsp;&nbsp;&nbsp; 3185241 |
| PLDT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144530 | &nbsp;&nbsp;&nbsp;&nbsp; 2746848 |
| SM Investments Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211790 | &nbsp;&nbsp;&nbsp;&nbsp; 2620754 |
| SM Prime Holdings, Inc. | 19967400 | &nbsp;&nbsp;&nbsp;&nbsp; 7600234 |
|  |  | &nbsp;&nbsp;**$59134365** |
| Romania — 0.1% | Romania — 0.1% | Romania — 0.1% |
| NEPI Rockcastle NV | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;267180 | &nbsp;&nbsp;$2166760 |
|  |  | &nbsp;&nbsp;**$2166760** |
| Slovenia — 2.0% | Slovenia — 2.0% | Slovenia — 2.0% |
| Nova Ljubljanska Banka DD<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;72121 | &nbsp;&nbsp;$14597775 |
| Nova Ljubljanska Banka DD GDR<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;949166 | &nbsp;&nbsp;&nbsp;&nbsp; 38081876 |
|  |  | &nbsp;&nbsp;**$52679651** |
| South Africa — 4.1% | South Africa — 4.1% | South Africa — 4.1% |
| Absa Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;362500 | &nbsp;&nbsp;$4050532 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| South Africa (continued) | South Africa (continued) | South Africa (continued) |
| Aspen Pharmacare Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122100 | &nbsp;&nbsp;$691582 |
| Bid Corp. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144200 | &nbsp;&nbsp;&nbsp;&nbsp; 3569553 |
| Bidvest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141800 | &nbsp;&nbsp;&nbsp;&nbsp; 1844583 |
| Capitec Bank Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37949 | &nbsp;&nbsp;&nbsp;&nbsp; 8396119 |
| Clicks Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;103200 | &nbsp;&nbsp;&nbsp;&nbsp; 2175970 |
| Discovery Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230900 | &nbsp;&nbsp;&nbsp;&nbsp; 2900975 |
| E Media Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68360 | &nbsp;&nbsp;&nbsp;&nbsp; 7725 |
| FirstRand Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2155000 | &nbsp;&nbsp;&nbsp;&nbsp; 10227406 |
| Gold Fields Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;403400 | &nbsp;&nbsp;&nbsp;&nbsp; 15553522 |
| Harmony Gold Mining Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269200 | &nbsp;&nbsp;&nbsp;&nbsp; 4479102 |
| Impala Platinum Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;386200 | &nbsp;&nbsp;&nbsp;&nbsp; 4138900 |
| Kumba Iron Ore Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20700 | &nbsp;&nbsp;&nbsp;&nbsp; 412262 |
| MTN Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;756300 | &nbsp;&nbsp;&nbsp;&nbsp; 7555824 |
| Nedbank Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193300 | &nbsp;&nbsp;&nbsp;&nbsp; 2635217 |
| Old Mutual Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1832600 | &nbsp;&nbsp;&nbsp;&nbsp; 1433009 |
| OUTsurance Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;368500 | &nbsp;&nbsp;&nbsp;&nbsp; 1550755 |
| Pepkor Holdings Ltd.<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1536386 | &nbsp;&nbsp;&nbsp;&nbsp; 2342557 |
| Remgro Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212900 | &nbsp;&nbsp;&nbsp;&nbsp; 2111611 |
| Sanlam Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;775200 | &nbsp;&nbsp;&nbsp;&nbsp; 4067932 |
| Sasol Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231300 | &nbsp;&nbsp;&nbsp;&nbsp; 1447146 |
| Shoprite Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;213500 | &nbsp;&nbsp;&nbsp;&nbsp; 3571141 |
| Sibanye Stillwater Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1231000 | &nbsp;&nbsp;&nbsp;&nbsp; 3266704 |
| Standard Bank Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;563800 | &nbsp;&nbsp;&nbsp;&nbsp; 8290588 |
| Valterra Platinum Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116100 | &nbsp;&nbsp;&nbsp;&nbsp; 7180693 |
| Vodacom Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283000 | &nbsp;&nbsp;&nbsp;&nbsp; 2290957 |
| Woolworths Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;307000 | &nbsp;&nbsp;&nbsp;&nbsp; 926944 |
|  |  | &nbsp;&nbsp;**$107119309** |
| South Korea — 14.3% | South Korea — 14.3% | South Korea — 14.3% |
| Celltrion, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32358 | &nbsp;&nbsp;$3982805 |
| CJ CheilJedang Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8500 | &nbsp;&nbsp;&nbsp;&nbsp; 1366985 |
| Coway Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41000 | &nbsp;&nbsp;&nbsp;&nbsp; 2563721 |
| Doosan Enerbility Co. Ltd.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127109 | &nbsp;&nbsp;&nbsp;&nbsp; 7866907 |
| GS Holdings Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53600 | &nbsp;&nbsp;&nbsp;&nbsp; 1801577 |
| Hana Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;88200 | &nbsp;&nbsp;&nbsp;&nbsp; 5283936 |
| Hanwha Aerospace Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16300 | &nbsp;&nbsp;&nbsp;&nbsp; 11180571 |
| HD Hyundai Heavy Industries Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp;&nbsp;&nbsp; 6316803 |
| HD Korea Shipbuilding & Offshore Engineering Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19100 | &nbsp;&nbsp;&nbsp;&nbsp; 6348468 |
| Hyundai Mobis Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp; 11499148 |
| Hyundai Rotem Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35500 | &nbsp;&nbsp;&nbsp;&nbsp; 5735431 |
| Industrial Bank of Korea | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;236400 | &nbsp;&nbsp;&nbsp;&nbsp; 3203684 |
| Kakao Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150200 | &nbsp;&nbsp;&nbsp;&nbsp; 6845321 |
| Kangwon Land, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127100 | &nbsp;&nbsp;&nbsp;&nbsp; 1504754 |
| KB Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;183300 | &nbsp;&nbsp;&nbsp;&nbsp; 14963436 |
| KT&G Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67500 | &nbsp;&nbsp;&nbsp;&nbsp; 6352547 |
| LG Uplus Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255100 | &nbsp;&nbsp;&nbsp;&nbsp; 2726916 |

---

*15*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| South Korea (continued) | South Korea (continued) | South Korea (continued) |
| Meritz Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56700 | &nbsp;&nbsp;$4393911 |
| NAVER Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89169 | &nbsp;&nbsp;&nbsp;&nbsp; 16711712 |
| Samsung C&T Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93800 | &nbsp;&nbsp;&nbsp;&nbsp; 14843966 |
| Samsung Electro-Mechanics Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21300 | &nbsp;&nbsp;&nbsp;&nbsp; 3651258 |
| Samsung Electronics Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1767483 | &nbsp;&nbsp;&nbsp;&nbsp; 133049372 |
| Samsung Fire & Marine Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14200 | &nbsp;&nbsp;&nbsp;&nbsp; 4394961 |
| Samsung Life Insurance Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59800 | &nbsp;&nbsp;&nbsp;&nbsp; 6462540 |
| Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157400 | &nbsp;&nbsp;&nbsp;&nbsp; 8084462 |
| SK Hynix, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191100 | &nbsp;&nbsp;&nbsp;&nbsp; 74355754 |
| SK Telecom Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115400 | &nbsp;&nbsp;&nbsp;&nbsp; 4225010 |
| Woori Financial Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;219600 | &nbsp;&nbsp;&nbsp;&nbsp; 3909252 |
|  |  | &nbsp;&nbsp;**$373625208** |
| Spain — 0.0%<sup>†</sup> | Spain — 0.0%<sup>†</sup> | Spain — 0.0%<sup>†</sup> |
| Ecogas Inversiones SA GDR<sup>(1)(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181105 | &nbsp;&nbsp;$21982 |
|  |  | &nbsp;&nbsp;**$21982** |
| Taiwan — 6.7% | Taiwan — 6.7% | Taiwan — 6.7% |
| Accton Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000 | &nbsp;&nbsp;$1564951 |
| Advantech Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | &nbsp;&nbsp;&nbsp;&nbsp; 426610 |
| Alchip Technologies Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7000 | &nbsp;&nbsp;&nbsp;&nbsp; 788612 |
| ASE Technology Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;302000 | &nbsp;&nbsp;&nbsp;&nbsp; 2416230 |
| Asia Vital Components Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29000 | &nbsp;&nbsp;&nbsp;&nbsp; 1327639 |
| Asustek Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;64000 | &nbsp;&nbsp;&nbsp;&nbsp; 1445856 |
| Cathay Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;839000 | &nbsp;&nbsp;&nbsp;&nbsp; 1741170 |
| Chailease Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138491 | &nbsp;&nbsp;&nbsp;&nbsp; 462916 |
| China Steel Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1116000 | &nbsp;&nbsp;&nbsp;&nbsp; 673399 |
| Chunghwa Telecom Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;345000 | &nbsp;&nbsp;&nbsp;&nbsp; 1470029 |
| Compal Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270000 | &nbsp;&nbsp;&nbsp;&nbsp; 288509 |
| CTBC Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1508000 | &nbsp;&nbsp;&nbsp;&nbsp; 2047988 |
| Delta Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;177000 | &nbsp;&nbsp;&nbsp;&nbsp; 5693004 |
| E Ink Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;78000 | &nbsp;&nbsp;&nbsp;&nbsp; 535853 |
| E.Sun Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1319699 | &nbsp;&nbsp;&nbsp;&nbsp; 1274757 |
| Elite Material Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27000 | &nbsp;&nbsp;&nbsp;&nbsp; 1186264 |
| eMemory Technology, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6000 | &nbsp;&nbsp;&nbsp;&nbsp; 386387 |
| Evergreen Marine Corp. Taiwan Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | &nbsp;&nbsp;&nbsp;&nbsp; 627312 |
| Far EasTone Telecommunications Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;162000 | &nbsp;&nbsp;&nbsp;&nbsp; 486510 |
| First Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1039760 | &nbsp;&nbsp;&nbsp;&nbsp; 964440 |
| Formosa Chemicals & Fibre Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276000 | &nbsp;&nbsp;&nbsp;&nbsp; 261163 |
| Formosa Plastics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381000 | &nbsp;&nbsp;&nbsp;&nbsp; 470819 |
| Fubon Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;753990 | &nbsp;&nbsp;&nbsp;&nbsp; 2231483 |
| Gigabyte Technology Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;48000 | &nbsp;&nbsp;&nbsp;&nbsp; 435136 |
| Hon Hai Precision Industry Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1117000 | &nbsp;&nbsp;&nbsp;&nbsp; 9290515 |
| Hotai Motor Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28000 | &nbsp;&nbsp;&nbsp;&nbsp; 513336 |
| Hua Nan Financial Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;810565 | &nbsp;&nbsp;&nbsp;&nbsp; 769045 |
| International Games System Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23000 | &nbsp;&nbsp;&nbsp;&nbsp; 537444 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Taiwan (continued) | Taiwan (continued) | Taiwan (continued) |
| KGI Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1472580 | &nbsp;&nbsp;$759618 |
| Largan Precision Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9000 | &nbsp;&nbsp;&nbsp;&nbsp; 645968 |
| Lite-On Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191000 | &nbsp;&nbsp;&nbsp;&nbsp; 1108084 |
| MediaTek, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138000 | &nbsp;&nbsp;&nbsp;&nbsp; 5852500 |
| Mega Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1067750 | &nbsp;&nbsp;&nbsp;&nbsp; 1403765 |
| Nan Ya Plastics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478000 | &nbsp;&nbsp;&nbsp;&nbsp; 643198 |
| Novatek Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53000 | &nbsp;&nbsp;&nbsp;&nbsp; 675280 |
| Pegatron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | &nbsp;&nbsp;&nbsp;&nbsp; 433042 |
| PharmaEssentia Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25523 | &nbsp;&nbsp;&nbsp;&nbsp; 412349 |
| President Chain Store Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52000 | &nbsp;&nbsp;&nbsp;&nbsp; 402687 |
| Quanta Computer, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;243000 | &nbsp;&nbsp;&nbsp;&nbsp; 2356670 |
| Realtek Semiconductor Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;44000 | &nbsp;&nbsp;&nbsp;&nbsp; 734741 |
| Shanghai Commercial & Savings Bank Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;357000 | &nbsp;&nbsp;&nbsp;&nbsp; 459568 |
| SinoPac Financial Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1014767 | &nbsp;&nbsp;&nbsp;&nbsp; 844685 |
| Taiwan Cooperative Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;992394 | &nbsp;&nbsp;&nbsp;&nbsp; 766968 |
| Taiwan Mobile Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159000 | &nbsp;&nbsp;&nbsp;&nbsp; 565858 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;2212000 | &nbsp;&nbsp;&nbsp;&nbsp; 106971582 |
| TCC Group Holdings Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;611000 | &nbsp;&nbsp;&nbsp;&nbsp; 438377 |
| TS Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;1973608 | &nbsp;&nbsp;&nbsp;&nbsp; 1198978 |
| TS Financial Holding Co. Ltd., PFC Shares<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237825 | &nbsp;&nbsp;&nbsp;&nbsp; 71336 |
| Unimicron Technology Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118000 | &nbsp;&nbsp;&nbsp;&nbsp; 621924 |
| Uni-President Enterprises Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;434000 | &nbsp;&nbsp;&nbsp;&nbsp; 1108835 |
| United Microelectronics Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1032000 | &nbsp;&nbsp;&nbsp;&nbsp; 1558554 |
| Wistron Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249000 | &nbsp;&nbsp;&nbsp;&nbsp; 1206734 |
| Wiwynn Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp;&nbsp;&nbsp; 1410196 |
| Yageo Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151952 | &nbsp;&nbsp;&nbsp;&nbsp; 1223041 |
| Yuanta Financial Holding Co. Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;973473 | &nbsp;&nbsp;&nbsp;&nbsp; 1089944 |
|  |  | &nbsp;&nbsp;**$175281859** |
| Togo — 0.0%<sup>†</sup> | Togo — 0.0%<sup>†</sup> | Togo — 0.0%<sup>†</sup> |
| Ecobank Transnational, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;115300 | &nbsp;&nbsp;$3133 |
|  |  | &nbsp;&nbsp;**$3133** |
| United Arab Emirates — 4.4% | United Arab Emirates — 4.4% | United Arab Emirates — 4.4% |
| Abu Dhabi Commercial Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;2152331 | &nbsp;&nbsp;$8444237 |
| Abu Dhabi Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990227 | &nbsp;&nbsp;&nbsp;&nbsp; 5689970 |
| Abu Dhabi National Oil Co. for Distribution PJSC | &nbsp;&nbsp;&nbsp;&nbsp;1932676 | &nbsp;&nbsp;&nbsp;&nbsp; 1888845 |
| ADNOC Logistics & Services | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3124140 |
| Agthia Group PJSC | &nbsp;&nbsp;&nbsp;&nbsp;2220832 | &nbsp;&nbsp;&nbsp;&nbsp; 2338945 |
| Air Arabia PJSC | &nbsp;&nbsp;&nbsp;&nbsp;4642425 | &nbsp;&nbsp;&nbsp;&nbsp; 4926022 |
| Al Ansari Financial Services PJSC | &nbsp;&nbsp;&nbsp;&nbsp;1805311 | &nbsp;&nbsp;&nbsp;&nbsp; 479868 |
| Al Waha Capital PJSC | &nbsp;&nbsp;&nbsp;&nbsp;6168401 | &nbsp;&nbsp;&nbsp;&nbsp; 2854774 |
| Aldar Properties PJSC | &nbsp;&nbsp;&nbsp;&nbsp;4332652 | &nbsp;&nbsp;&nbsp;&nbsp; 10615500 |
| Amanat Holdings PJSC | 10123250 | &nbsp;&nbsp;&nbsp;&nbsp; 3168414 |
| Americana Restaurants International PLC | &nbsp;&nbsp;&nbsp;&nbsp;1335869 | &nbsp;&nbsp;&nbsp;&nbsp; 760365 |
| Deyaar Development PJSC | 16085701 | &nbsp;&nbsp;&nbsp;&nbsp; 4517332 |

---

*16*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| United Arab Emirates (continued) | United Arab Emirates (continued) | United Arab Emirates (continued) |
| Dubai Electricity & Water Authority PJSC | &nbsp;&nbsp;&nbsp;&nbsp;1988024 | &nbsp;&nbsp;$1504073 |
| Dubai Islamic Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;1955614 | &nbsp;&nbsp;&nbsp;&nbsp; 5058813 |
| Emaar Properties PJSC | &nbsp;&nbsp;&nbsp;&nbsp;5225625 | &nbsp;&nbsp;&nbsp;&nbsp; 20221306 |
| Emirates NBD Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;960687 | &nbsp;&nbsp;&nbsp;&nbsp; 7351062 |
| Emirates Telecommunications Group Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp;2102157 | &nbsp;&nbsp;&nbsp;&nbsp; 11098930 |
| First Abu Dhabi Bank PJSC | &nbsp;&nbsp;&nbsp;&nbsp;2746705 | &nbsp;&nbsp;&nbsp;&nbsp; 13038626 |
| Modon Holding PSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227300 | &nbsp;&nbsp;&nbsp;&nbsp; 225832 |
| Multiply Group PJSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2223266 | &nbsp;&nbsp;&nbsp;&nbsp; 1806462 |
| National Central Cooling Co. PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;689840 | &nbsp;&nbsp;&nbsp;&nbsp; 567045 |
| Ras Al Khaimah Ceramics PJSC | &nbsp;&nbsp;&nbsp;&nbsp;3875806 | &nbsp;&nbsp;&nbsp;&nbsp; 2712141 |
| Taaleem Holdings PJSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29300 | &nbsp;&nbsp;&nbsp;&nbsp; 34592 |
| Talabat Holding PLC | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1301496 |
|  |  | &nbsp;&nbsp;**$113728790** |
| United Kingdom — 0.6% | United Kingdom — 0.6% | United Kingdom — 0.6% |
| Anglogold Ashanti PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;222900 | &nbsp;&nbsp;$15282870 |
|  |  | &nbsp;&nbsp;**$15282870** |
| Vietnam — 13.3% | Vietnam — 13.3% | Vietnam — 13.3% |
| Airports Corp. of Vietnam JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2660285 | &nbsp;&nbsp;$5600600 |
| An Cuong Wood Working JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19500 | &nbsp;&nbsp;&nbsp;&nbsp; 26969 |
| Asia Commercial Bank JSC | &nbsp;&nbsp;&nbsp;&nbsp;3066532 | &nbsp;&nbsp;&nbsp;&nbsp; 2976132 |
| Ba Ria - Vung Tau House Development JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;610400 | &nbsp;&nbsp;&nbsp;&nbsp; 779535 |
| Bank for Foreign Trade of Vietnam JSC | &nbsp;&nbsp;&nbsp;&nbsp;5490096 | &nbsp;&nbsp;&nbsp;&nbsp; 12430140 |
| Bank for Investment & Development of Vietnam JSC | &nbsp;&nbsp;&nbsp;&nbsp;7640253 | &nbsp;&nbsp;&nbsp;&nbsp; 10872509 |
| Baominh Insurance Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1965398 | &nbsp;&nbsp;&nbsp;&nbsp; 1467036 |
| Binh Duong Water Environment Corp. JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;977800 | &nbsp;&nbsp;&nbsp;&nbsp; 1820578 |
| Binh Minh Plastics JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;418100 | &nbsp;&nbsp;&nbsp;&nbsp; 2696134 |
| Binh Son Refining & Petrochemical JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2948667 | &nbsp;&nbsp;&nbsp;&nbsp; 1867456 |
| Century Land JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;520000 | &nbsp;&nbsp;&nbsp;&nbsp; 197354 |
| Century Synthetic Fiber Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20546 | &nbsp;&nbsp;&nbsp;&nbsp; 13509 |
| Coteccons Construction JSC | &nbsp;&nbsp;&nbsp;&nbsp;1032400 | &nbsp;&nbsp;&nbsp;&nbsp; 4058440 |
| Dat Xanh Real Estate Services JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;592200 | &nbsp;&nbsp;&nbsp;&nbsp; 235829 |
| Digiworld Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1876240 | &nbsp;&nbsp;&nbsp;&nbsp; 2836817 |
| Dong Hai JSC of Bentre | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250320 | &nbsp;&nbsp;&nbsp;&nbsp; 328629 |
| Duc Giang Chemicals JSC | &nbsp;&nbsp;&nbsp;&nbsp;1624800 | &nbsp;&nbsp;&nbsp;&nbsp; 5924544 |
| FPT Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4014338 | &nbsp;&nbsp;&nbsp;&nbsp; 15839234 |
| FPT Digital Retail JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;3081625 | &nbsp;&nbsp;&nbsp;&nbsp; 17360660 |
| Gelex Group JSC | &nbsp;&nbsp;&nbsp;&nbsp;2765750 | &nbsp;&nbsp;&nbsp;&nbsp; 4625334 |
| Gemadept Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3433300 | &nbsp;&nbsp;&nbsp;&nbsp; 8886675 |
| Ho Chi Minh City Development Joint Stock Commercial Bank<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1623500 | &nbsp;&nbsp;&nbsp;&nbsp; 1974695 |
| Hoa Phat Group JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7071323 | &nbsp;&nbsp;&nbsp;&nbsp; 7182464 |
| IDICO Corp. JSC | &nbsp;&nbsp;&nbsp;&nbsp;1184845 | &nbsp;&nbsp;&nbsp;&nbsp; 1712168 |
| Khang Dien House Trading & Investment JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;7815165 | &nbsp;&nbsp;&nbsp;&nbsp; 10642202 |
| Kinh Bac City Development Holding Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;5670900 | &nbsp;&nbsp;&nbsp;&nbsp; 7541580 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Vietnam (continued) | Vietnam (continued) | Vietnam (continued) |
| Masan Group Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;3177500 | &nbsp;&nbsp;$9612311 |
| Military Commercial Joint Stock Bank | &nbsp;&nbsp;&nbsp;&nbsp;5055996 | &nbsp;&nbsp;&nbsp;&nbsp; 4535772 |
| Mobile World Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6665800 | &nbsp;&nbsp;&nbsp;&nbsp; 20899597 |
| Nam Long Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;5665900 | &nbsp;&nbsp;&nbsp;&nbsp; 8549270 |
| Novaland Investment Group Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7524 | &nbsp;&nbsp;&nbsp;&nbsp; 3909 |
| PC1 Group JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2196435 | &nbsp;&nbsp;&nbsp;&nbsp; 1983691 |
| PetroVietNam Ca Mau Fertilizer JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400200 | &nbsp;&nbsp;&nbsp;&nbsp; 531532 |
| PetroVietnam Drilling & Well Services JSC | &nbsp;&nbsp;&nbsp;&nbsp;1788000 | &nbsp;&nbsp;&nbsp;&nbsp; 1473425 |
| Petrovietnam Fertilizer & Chemicals JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;742423 | &nbsp;&nbsp;&nbsp;&nbsp; 676328 |
| PetroVietnam Gas JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;806284 | &nbsp;&nbsp;&nbsp;&nbsp; 1890183 |
| PetroVietnam Technical Services Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3278762 | &nbsp;&nbsp;&nbsp;&nbsp; 4087078 |
| Petrovietnam Transportation Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2790876 | &nbsp;&nbsp;&nbsp;&nbsp; 1863656 |
| Pha Lai Thermal Power JSC | &nbsp;&nbsp;&nbsp;&nbsp;3092560 | &nbsp;&nbsp;&nbsp;&nbsp; 1209601 |
| Phat Dat Real Estate Development Corp.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;4367954 | &nbsp;&nbsp;&nbsp;&nbsp; 3736421 |
| Phu Nhuan Jewelry JSC | &nbsp;&nbsp;&nbsp;&nbsp;2756566 | &nbsp;&nbsp;&nbsp;&nbsp; 9916052 |
| Phu Tai Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;668700 | &nbsp;&nbsp;&nbsp;&nbsp; 1329058 |
| Phuoc Hoa Rubber JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;878500 | &nbsp;&nbsp;&nbsp;&nbsp; 1866317 |
| Quang Ngai Sugar JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;316000 | &nbsp;&nbsp;&nbsp;&nbsp; 541577 |
| Quang Ninh Thermal Power JSC | &nbsp;&nbsp;&nbsp;&nbsp;2650550 | &nbsp;&nbsp;&nbsp;&nbsp; 1299339 |
| Refrigeration Electrical Engineering Corp. | &nbsp;&nbsp;&nbsp;&nbsp;1022324 | &nbsp;&nbsp;&nbsp;&nbsp; 2562278 |
| Sai Gon VRG Investment Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3029520 | &nbsp;&nbsp;&nbsp;&nbsp; 6474342 |
| Saigon Beer Alcohol Beverage Corp. | &nbsp;&nbsp;&nbsp;&nbsp;4882300 | &nbsp;&nbsp;&nbsp;&nbsp; 8506168 |
| Saigon Thuong Tin Commercial JSB<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2460000 | &nbsp;&nbsp;&nbsp;&nbsp; 5184103 |
| Sao Ta Foods JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;402800 | &nbsp;&nbsp;&nbsp;&nbsp; 557223 |
| Sonadezi Chau Duc Shareholding Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;932800 | &nbsp;&nbsp;&nbsp;&nbsp; 1104106 |
| SSI Securities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;6577830 | &nbsp;&nbsp;&nbsp;&nbsp; 8561635 |
| Taseco Air Services JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;321674 | &nbsp;&nbsp;&nbsp;&nbsp; 915680 |
| Techcom Securities JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;5639228 | &nbsp;&nbsp;&nbsp;&nbsp; 9696943 |
| Thien Long Group Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;309540 | &nbsp;&nbsp;&nbsp;&nbsp; 629006 |
| Thu Dau Mot Water JSC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1800 | &nbsp;&nbsp;&nbsp;&nbsp; 3897 |
| Tien Phong Commercial Joint Stock Bank | &nbsp;&nbsp;&nbsp;&nbsp;2780925 | &nbsp;&nbsp;&nbsp;&nbsp; 1759636 |
| Vietjet Aviation JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144200 | &nbsp;&nbsp;&nbsp;&nbsp; 1024258 |
| Vietnam Dairy Products JSC | &nbsp;&nbsp;&nbsp;&nbsp;2591800 | &nbsp;&nbsp;&nbsp;&nbsp; 5673913 |
| Vietnam Engine & Agricultural Machinery Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;241100 | &nbsp;&nbsp;&nbsp;&nbsp; 377477 |
| Vietnam Joint Stock Commercial Bank for Industry & Trade | &nbsp;&nbsp;&nbsp;&nbsp;7593700 | &nbsp;&nbsp;&nbsp;&nbsp; 14137971 |
| Vietnam National Petroleum Group | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;945900 | &nbsp;&nbsp;&nbsp;&nbsp; 1243636 |
| Vietnam Prosperity JSC Bank | 18429700 | &nbsp;&nbsp;&nbsp;&nbsp; 20061603 |
| Vietnam Technological & Commercial Joint Stock Bank | &nbsp;&nbsp;&nbsp;&nbsp;3114800 | &nbsp;&nbsp;&nbsp;&nbsp; 4151525 |
| Viettel Construction Joint Stock Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;412600 | &nbsp;&nbsp;&nbsp;&nbsp; 1443003 |
| Vincom Retail JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;2112600 | &nbsp;&nbsp;&nbsp;&nbsp; 2671284 |
| Vingroup JSC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;1759300 | &nbsp;&nbsp;&nbsp;&nbsp; 12792303 |
| Vinh Hoan Corp. | &nbsp;&nbsp;&nbsp;&nbsp;3939000 | &nbsp;&nbsp;&nbsp;&nbsp; 8822071 |

---

*17*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Vietnam (continued) | Vietnam (continued) | Vietnam (continued) |
| Vinhomes JSC<sup>(1)(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;6063500 | &nbsp;&nbsp;$22867736 |
| VNDirect Securities Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990875 | &nbsp;&nbsp;&nbsp;&nbsp; 752983 |
|  |  | &nbsp;&nbsp;**$347877120** |
| Total Common Stocks<br> (identified cost $1,865,217,520) |  | &nbsp;&nbsp;**$2415528800** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

Loan Participation Notes — 0.1%

---

| | | | |
|:---|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Uzbekistan — 0.1% | Uzbekistan — 0.1% | Uzbekistan — 0.1% | Uzbekistan — 0.1% |
| Europe Asia Investment Finance BV (borrower - Joint Stock Commercial Bank "Asaka"), 18.70%, 7/21/26<sup>(3)(4)(5)</sup> | UZS | 40521780 | &nbsp;&nbsp;$3382174 |
| Total Loan Participation Notes<br> (identified cost $3,432,858) |  |  | &nbsp;&nbsp;**$3382174** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

Preferred Stocks — 0.0%<sup>†</sup>

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| India — 0.0%<sup>†</sup> | India — 0.0%<sup>†</sup> | India — 0.0%<sup>†</sup> |
| TVS Motor Co. Ltd., 6.00%<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153600 | &nbsp;&nbsp;$17303 |
| Total Preferred Stocks<br> (identified cost $0) |  | &nbsp;&nbsp;**$17303** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

Rights — 0.0%<sup>†</sup>

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Vietnam — 0.0%<sup>†</sup> | Vietnam — 0.0%<sup>†</sup> | Vietnam — 0.0%<sup>†</sup> |
| Nam Long Investment Corp., Exp. 11/20/25<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;5665900 | &nbsp;&nbsp;$823291 |
| Total Rights<br> (identified cost $0) |  | &nbsp;&nbsp;**$823291** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

Sovereign Government Bonds — 0.3%

---

| | | | |
|:---|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Uzbekistan — 0.3% | Uzbekistan — 0.3% | Uzbekistan — 0.3% | Uzbekistan — 0.3% |
| National Bank of Uzbekistan, 19.875%, 7/5/27<sup>(3)</sup> | UZS | 80750000 | &nbsp;&nbsp;$6948609 |
| Total Sovereign Government Bonds<br> (identified cost $6,418,781) |  |  | &nbsp;&nbsp;**$6948609** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

Short-Term Investments — 4.1%

Affiliated Fund — 3.5%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.00%<sup>(6)</sup> | 90198552 | &nbsp;&nbsp;$90198552 |
| Total Affiliated Fund<br> (identified cost $90,198,552) |  | &nbsp;&nbsp;**$90198552** |

---

&nbsp;&nbsp;&nbsp;&nbsp;

U.S. Treasury Obligations — 0.6%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| U.S. Treasury Bills: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 12/4/25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp;$15448353 |
| &nbsp;&nbsp;&nbsp;0.00%, 12/18/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 497586 |
| &nbsp;&nbsp;&nbsp;0.00%, 1/8/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;506 | &nbsp;&nbsp;&nbsp;&nbsp; 502496 |
| Total U.S. Treasury Obligations<br> (identified cost $16,444,321) |  | &nbsp;&nbsp;**$16448435** |
| Total Short-Term Investments<br> (identified cost $106,642,873) |  | &nbsp;&nbsp;**$106646987** |

---

---

| | |
|:---|:---|
| Total Purchased Options — 0.4%<br> (identified cost $18,593,242) | &nbsp;&nbsp;**$10475445** |
| Total Investments — 97.4%<br> (identified cost $2,000,305,274) | &nbsp;&nbsp;**$2543822609** |
| Other Assets, Less Liabilities — 2.6% | &nbsp;&nbsp;**$68047488** |
| Net Assets — 100.0% | &nbsp;&nbsp;**$2611870097** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>†</sup> | Amount is less than 0.05% or (0.05)%, as applicable. |
| <sup>(1)</sup> | Non-income producing security. |

---

*18*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

<sup>(2)</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 October 31, 2025, the aggregate value of these securities is $62,388,903 or 2.4% of the Portfolio's net assets.

<sup>(3)</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 October 31, 2025, the aggregate value of these securities is $48,412,659 or 1.9% of the Portfolio's net assets.

<sup>(4)</sup> Security is valued using significant unobservable inputs and is categorized as Level 3 in the fair value hierarchy.

<sup>(5)</sup> Limited recourse note whose payments by the issuer are limited to amounts received by the issuer from the borrower pursuant to a loan agreement with the borrower.

<sup>(6)</sup> May be deemed to be an affiliated investment company (see Note 8). The rate shown is the annualized seven-day yield as of October 31, 2025.

---

| | | |
|:---|:---|:---|
| Sector Classification of Portfolio | Sector Classification of Portfolio | Sector Classification of Portfolio |
| **Sector** | &nbsp;&nbsp;&nbsp;**Percentage<br> of Net Assets** | &nbsp;&nbsp;&nbsp;**Value** |
| Financials | &nbsp;&nbsp;&nbsp;35.1% | &nbsp;&nbsp;&nbsp;&nbsp;$911170582 |
| Information Technology | &nbsp;&nbsp;&nbsp;16.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;428281403 |
| Industrials | &nbsp;&nbsp;&nbsp;&nbsp;8.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;211488524 |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;&nbsp;7.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189228892 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;5.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149864317 |
| Materials | &nbsp;&nbsp;&nbsp;&nbsp;5.7 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;143298362 |
| Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;4.9 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127812930 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;3.6 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96395769 |
| Energy | &nbsp;&nbsp;&nbsp;&nbsp;3.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84647888 |
| Utilities | &nbsp;&nbsp;&nbsp;&nbsp;2.0 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56252944 |
| Health Care | &nbsp;&nbsp;&nbsp;&nbsp;0.8 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21309957 |
| Government | &nbsp;&nbsp;&nbsp;&nbsp;0.3 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6948609 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;4.1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106646987 |
| **Total** | &nbsp;&nbsp;&nbsp;**97.0%** | &nbsp;&nbsp;&nbsp;**$2533347164** |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** | **Purchased Currency Options (OTC) — 0.1%** |
| **Description** | &nbsp;&nbsp;**Counterparty** | &nbsp;&nbsp;**Notional Amount** | &nbsp;&nbsp;**Notional Amount** | &nbsp;&nbsp;**Exercise<br> Price** | &nbsp;&nbsp;**Exercise<br> Price** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value** |
| Put USD vs. Call CNH | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp;240000000 | &nbsp;&nbsp;CNH | &nbsp;&nbsp; 7.00 | &nbsp;&nbsp;&nbsp;&nbsp;4/2/26 | &nbsp;&nbsp;$1305120 |
| Put USD vs. Call INR | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp; 22600000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;85.50 | &nbsp;&nbsp;1/25/29 | &nbsp;&nbsp; 74874 |
| Put USD vs. Call INR | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp; 12100000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;85.50 | &nbsp;&nbsp;1/25/29 | &nbsp;&nbsp; 40087 |
| Put USD vs. Call INR | &nbsp;&nbsp;JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;USD | &nbsp;&nbsp; 11600000 | &nbsp;&nbsp;INR | &nbsp;&nbsp;85.50 | &nbsp;&nbsp;1/30/29 | &nbsp;&nbsp; 38628 |
| **Total** |  |  |  |  |  |  | &nbsp;&nbsp;**$1458709** |

---

*19*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Purchased Call Options (Exchange-Traded) — 0.3%** | **Purchased Call Options (Exchange-Traded) — 0.3%** | **Purchased Call Options (Exchange-Traded) — 0.3%** | **Purchased Call Options (Exchange-Traded) — 0.3%** | **Purchased Call Options (Exchange-Traded) — 0.3%** | **Purchased Call Options (Exchange-Traded) — 0.3%** |
| **Description** | &nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;**Exercise<br> Price** | &nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;**Value** |
| Hang Seng China Enterprises Index Futures 03/2026 | &nbsp;&nbsp;8100 | &nbsp;&nbsp;HKD 3,713,274,900 | &nbsp;&nbsp;HKD 10,400.00 | &nbsp;&nbsp;3/20/26 | &nbsp;&nbsp;$9016736 |
| **Total** |  |  |  |  | &nbsp;&nbsp;**$9016736** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;57608000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 60072285 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1056828 |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;56220245985 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 58996442 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 660096 |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp;13920118517 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 14512217 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 258726 |
| CLP | &nbsp;&nbsp;&nbsp;&nbsp; 2859000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 2981635 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52113 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 1296988 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 1529196 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (30575) |
| INR | &nbsp;&nbsp;&nbsp;&nbsp; 3515000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 39723798 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (221441) |
| INR | &nbsp;&nbsp;&nbsp;&nbsp; 4688000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 52973487 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (288693) |
| INR | &nbsp;&nbsp;&nbsp;&nbsp; 6447000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 72845838 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (393008) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp;57192000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 41313849 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1220849) |
| KRW | &nbsp;&nbsp;&nbsp;&nbsp;61181500000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 44191598 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1301861) |
| TWD | &nbsp;&nbsp;&nbsp;&nbsp; 1000500000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 33019802 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (482902) |
| TWD | &nbsp;&nbsp;&nbsp;&nbsp; 1515500000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 50008249 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (723221) |
| TWD | &nbsp;&nbsp;&nbsp;&nbsp; 2118000000 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 70545915 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1667201) |
| TWD | &nbsp;&nbsp;&nbsp;&nbsp; 2216528532 | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp; 73982928 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1900004) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 708475 | &nbsp;&nbsp;&nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp; 680575185 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (13698) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3164451 | &nbsp;&nbsp;&nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp; 3028000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48626) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9869381 | &nbsp;&nbsp;&nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp; 9422989317 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (129559) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 123498579 | &nbsp;&nbsp;&nbsp;&nbsp;CLP | &nbsp;&nbsp;&nbsp;&nbsp;117475800000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1157571) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 200455581 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 170016477 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4007972 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4890739 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4148082 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 97787 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4219714 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3578952 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 84370 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 7218405 | &nbsp;&nbsp;&nbsp;&nbsp;EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6219221 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32331 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 10872769 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 332000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75917 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 10818943 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 330800000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61116 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 10854994 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 332000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58142 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 10813460 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 331000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49128 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 9380618 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 287000000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 47194 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6491227 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 199034000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18514 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5769973 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 176942000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15706 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5352022 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 164093000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15613 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5048712 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 154844000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13086 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4703204 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 144249000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12134 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4327466 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 132758000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10091 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3252174 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 99832000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5574 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6491212 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 199436000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5426 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 6491214 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 199475000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4159 |

---

*20*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Portfolio of Investments — continued

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** | **Forward Foreign Currency Exchange Contracts (Centrally Cleared) (continued)** |
| **Currency Purchased** | **Currency Purchased** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Currency Sold** | &nbsp;&nbsp;&nbsp;&nbsp;**Settlement<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5769959 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 177357000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$2196 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3519192 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 108187000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 882 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1829508 | &nbsp;&nbsp;&nbsp;&nbsp;TWD | &nbsp;&nbsp;&nbsp;&nbsp; 56257000 | &nbsp;&nbsp;&nbsp;&nbsp;12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$(2934114)** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** | **Futures Contracts** |
| **Description** | &nbsp;&nbsp;&nbsp;&nbsp;**Number of<br> Contracts** | &nbsp;&nbsp;&nbsp;&nbsp;**Position** | &nbsp;&nbsp;&nbsp;&nbsp;**Expiration<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional<br> Amount** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| **Equity Futures** |  |  |  |  |  |
| FTSE Taiwan Index | &nbsp;&nbsp;&nbsp;&nbsp;193 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;11/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;$17782183 | &nbsp;&nbsp;&nbsp;&nbsp;$107115 |
| Hang Seng China Enterprises Index | &nbsp;&nbsp;&nbsp;&nbsp;948 | &nbsp;&nbsp;&nbsp;&nbsp;Long | &nbsp;&nbsp;&nbsp;&nbsp;11/27/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;56049432 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1674581) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$(1567466)** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Total Return Swaps (OTC)** | **Total Return Swaps (OTC)** | **Total Return Swaps (OTC)** | **Total Return Swaps (OTC)** | **Total Return Swaps (OTC)** | **Total Return Swaps (OTC)** | **Total Return Swaps (OTC)** |
| **Counterparty** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional Amount<br> (000's omitted)** | &nbsp;&nbsp;&nbsp;&nbsp;**Notional Amount<br> (000's omitted)** | &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio Receives** | &nbsp;&nbsp;&nbsp;&nbsp;**Portfolio Pays** | &nbsp;&nbsp;&nbsp;&nbsp;**Termination<br> Date** | &nbsp;&nbsp;&nbsp;&nbsp;**Value/Unrealized<br> Appreciation<br> (Depreciation)** |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;34638 | &nbsp;&nbsp;&nbsp;&nbsp;Positive Return on Shenzhen Stock Exchange Composite Index plus (8.25% minus USD SOFR Compounded Index) (pays upon termination) | &nbsp;&nbsp;&nbsp;&nbsp;Negative Return on Shenzhen Stock Exchange Composite Index (pays upon termination) | &nbsp;&nbsp;&nbsp;&nbsp;11/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;$3107805 |
| UBS AG | &nbsp;&nbsp;&nbsp;&nbsp;USD | &nbsp;&nbsp;&nbsp;&nbsp;58240 | &nbsp;&nbsp;&nbsp;&nbsp;Positive Return on Shenzhen Stock Exchange Composite Index plus (9.50% minus USD SOFR Compounded Index) (pays upon termination) | &nbsp;&nbsp;&nbsp;&nbsp;Negative Return on Shenzhen Stock Exchange Composite Index (pays upon termination) | &nbsp;&nbsp;&nbsp;&nbsp;11/19/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5375075 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$8482880** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| ADR | – American Depositary Receipt |
| FTSE | – Financial Times Stock Exchange |
| GDR | – Global Depositary Receipt |
| OTC | – Over-the-counter |
| PFC Shares | – Preference Shares |
| SOFR | – Secured Overnight Financing Rate |

---

---

| | |
|:---|:---|
| **Currency Abbreviations:** | **Currency Abbreviations:** |
| CLP | – Chilean Peso |
| EUR | – Euro |
| HKD | – Hong Kong Dollar |
| INR | – Indian Rupee |
| KRW | – South Korean Won |
| TWD | – New Taiwan Dollar |
| USD | – United States Dollar |
| UZS | – Uzbekistani Som |

---

*21*

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Statement of Assets and Liabilities

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**October 31, 2025** |
| Assets |  |
| Unaffiliated investments, at value (identified cost $1,910,106,722) | &nbsp;&nbsp;$2453624057 |
| Affiliated investments, at value (identified cost $90,198,552) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90198552 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377562 |
| Deposits for derivatives collateral: |  |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8727663 |
| &nbsp;&nbsp;&nbsp;Centrally cleared derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18954366 |
| Foreign currency, at value (identified cost $12,797,670) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12740729 |
| Interest and dividends receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2299535 |
| Dividends receivable from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;632831 |
| Receivable for investments sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24100886 |
| Securities lending income receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1671 |
| Receivable for variation margin on open centrally cleared derivatives | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396343 |
| Receivable for open swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482880 |
| Tax reclaims receivable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20226 |
| Trustees' deferred compensation plan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19789 |
| **Total assets** | &nbsp;&nbsp;**$2620577090** |
| Liabilities |  |
| Payable for variation margin on open futures contracts | &nbsp;&nbsp;$963195 |
| Payable to affiliates: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment adviser fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2005525 |
| &nbsp;&nbsp;&nbsp;Trustees' fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9223 |
| &nbsp;&nbsp;&nbsp;Trustees' deferred compensation plan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19789 |
| Payable for custodian fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;598698 |
| Accrued foreign capital gains taxes | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5003263 |
| Accrued expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107300 |
| **Total liabilities** | &nbsp;&nbsp;**$8706993** |
| **Net Assets applicable to investors' interest in Portfolio** | &nbsp;&nbsp;**$2611870097** |

---

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Statement of Operations

------

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Year Ended** |
|  | &nbsp;&nbsp;&nbsp;**October 31, 2025** |
| Investment Income |  |
| Dividend income (net of foreign taxes withheld of $4,386,739) | &nbsp;&nbsp;$48534953 |
| Dividend income from affiliated investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4515854 |
| Interest income (net of foreign taxes withheld of $297) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4758041 |
| Securities lending income, net | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23891 |
| **Total investment income** | &nbsp;&nbsp;**$57832739** |
| Expenses |  |
| Investment adviser fee | &nbsp;&nbsp;$16328971 |
| Trustees' fees and expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;96615 |
| Custodian fee | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2110154 |
| Legal and accounting services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151925 |
| Miscellaneous | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;151919 |
| **Total expenses** | &nbsp;&nbsp;**$18839584** |
| Deduct: |  |
| &nbsp;&nbsp;&nbsp;Waiver and/or reimbursement of expenses by affiliates | &nbsp;&nbsp;$154859 |
| **Total expense reductions** | &nbsp;&nbsp;**$154859** |
| **Net expenses** | &nbsp;&nbsp;**$18684725** |
| **Net investment income** | &nbsp;&nbsp;**$39148014** |
| Realized and Unrealized Gain (Loss) |  |
| Net realized gain (loss): |  |
| &nbsp;&nbsp;&nbsp;Investment transactions (net of foreign capital gains taxes of $1,209,554) | &nbsp;&nbsp;$32782777 |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6650982) |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15407719 |
| &nbsp;&nbsp;&nbsp;Foreign currency transactions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(896597) |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8664634) |
| **Net realized gain** | &nbsp;&nbsp;**$31978283** |
| Change in unrealized appreciation (depreciation): |  |
| &nbsp;&nbsp;&nbsp;Investments (including net increase in accrued foreign capital gains taxes of $1,522,259) | &nbsp;&nbsp;$422395036 |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543561 |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482880 |
| &nbsp;&nbsp;&nbsp;Foreign currency | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;261897 |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3191261) |
| **Net change in unrealized appreciation (depreciation)** | &nbsp;&nbsp;**$429492113** |
| **Net realized and unrealized gain** | &nbsp;&nbsp;**$461470396** |
| **Net increase in net assets from operations** | &nbsp;&nbsp;**$500618410** |

---

*23*

*See Notes to Financial Statements.*

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Statements of Changes in Net Assets

------

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** |
|  | &nbsp;&nbsp;&nbsp;**2025** | &nbsp;&nbsp;&nbsp;**2024** |
| Increase (Decrease) in Net Assets |  |  |
| From operations: |  |  |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;$39148014 | &nbsp;&nbsp;$23374540 |
| &nbsp;&nbsp;&nbsp;Net realized gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;31978283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8825058 |
| &nbsp;&nbsp;&nbsp;Net change in unrealized appreciation (depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;429492113 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86046868 |
| **Net increase in net assets from operations** | &nbsp;&nbsp;**$500618410** | &nbsp;&nbsp;**$118246466** |
| Capital transactions: |  |  |
| &nbsp;&nbsp;&nbsp;Contributions | &nbsp;&nbsp;$1036069274 | &nbsp;&nbsp;$688948624 |
| &nbsp;&nbsp;&nbsp;Withdrawals | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(70058137) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(38364598) |
| **Net increase in net assets from capital transactions** | &nbsp;&nbsp;**$966011137** | &nbsp;&nbsp;**$650584026** |
| **Net increase in net assets** | &nbsp;&nbsp;**$1466629547** | &nbsp;&nbsp;**$768830492** |
| Net Assets |  |  |
| At beginning of year | &nbsp;&nbsp;$1145240550 | &nbsp;&nbsp;$376410058 |
| **At end of year** | &nbsp;&nbsp;**$2611870097** | &nbsp;&nbsp;**$1145240550** |

---

*24*

*See Notes to Financial Statements.*

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Financial Highlights

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** | &nbsp;&nbsp;&nbsp;**Year Ended October 31,** |
|  | &nbsp;&nbsp;&nbsp;**2025** | &nbsp;&nbsp;&nbsp;**2024** | &nbsp;&nbsp;&nbsp;**2023** | &nbsp;&nbsp;&nbsp;**2022** | &nbsp;&nbsp;&nbsp;**2021** |
| Ratios/Supplemental Data |  |  |  |  |  |
| Ratios (as a percentage of average daily net assets):<sup>(1)</sup> |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Total expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.09% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.20% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24% |
| &nbsp;&nbsp;&nbsp;Net expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.09%<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.12%<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.15%<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.26%<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.24% |
| &nbsp;&nbsp;&nbsp;Net investment income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.30% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.17% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.04% |
| Portfolio Turnover | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;54% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;67% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70% |
| **Total Return** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**32.07%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**24.31%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**16.11%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**(16.87)%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**35.70%** |
| **Net assets, end of year (000's omitted)** | &nbsp;&nbsp;**$2611870** | &nbsp;&nbsp;**$1145241** | &nbsp;&nbsp;**$376410** | &nbsp;&nbsp;**$183633** | &nbsp;&nbsp;**$190503** |

---

<sup>(1)</sup> Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Portfolio.

<sup>(2)</sup> Includes a reduction by the investment adviser of a portion of its adviser fee due to the Portfolio's investment in the Liquidity Fund (equal to less than 0.01% of average daily net assets for the year ended October 31, 2025 and less than 0.005% of average daily net assets for the years ended October 31, 2024, 2023 and 2022).

*See Notes to Financial Statements.*

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements

------

1 Significant Accounting Policies

Global Macro Capital Opportunities Portfolio (the Portfolio) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, open-end management investment company. The Portfolio's investment objective is total return. The Declaration of Trust permits the Trustees to issue interests in the Portfolio. At October 31, 2025, Eaton Vance Emerging and Frontier Countries Equity Fund held an interest of approximately 100% in the Portfolio.

The following is a summary of significant accounting policies of the Portfolio. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Portfolio is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946.

A Investment Valuation—The following methodologies are used to determine the market value or fair value of investments.

**Equity Securities. Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and ask prices on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ National Market System are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that uses various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events.**

**Debt Obligations. Debt obligations are generally valued on the basis of valuations provided by third party pricing services, as derived from such services' pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, interest rates, anticipated prepayments, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term debt obligations purchased with a remaining maturity of sixty days or less for which a valuation from a third party pricing service is not readily available may be valued at amortized cost, which approximates fair value.**

**Derivatives.U.S. exchange-traded options are valued at the mean between the bid and ask prices at valuation time as reported by the Options Price Reporting Authority. Non-U.S. exchange-traded options and over-the-counter options (including options on securities, indices and foreign currencies) are valued by a third party pricing service using techniques that consider factors including the value of the underlying instrument, the volatility of the underlying instrument and the period of time until option expiration. Futures contracts are valued at the closing settlement price established by the board of trade or exchange on which they are traded, with adjustments for fair valuation for certain foreign futures contracts as described below. Forward foreign currency exchange contracts are generally valued at the mean of the average bid and average ask prices that are reported by currency dealers to a third party pricing service at the valuation time. Such third party pricing service valuations are supplied for specific settlement periods and the Portfolio's forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent settlement period reported by the third party pricing service. Total return swaps are valued using valuations provided by a third party pricing service based on the value of the underlying index or instrument and reference interest rate. Future cash flows on swaps are discounted to their present value using swap rates provided by electronic data services or by broker/dealers.**

**Foreign Securities, Futures Contracts and Currencies. Foreign securities, futures contracts and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads. The daily valuation of exchange-traded foreign securities and certain exchange-traded foreign futures contracts generally is determined as of the close of trading on the principal exchange on which such securities and contracts trade. Foreign ownership of shares of certain Indian companies may be subject to limitations. When foreign ownership of such an Indian company's shares approaches the limitation, foreign investors may be willing to pay a premium to the local share price to acquire shares from other foreign investors. Such shares are valued at the closing price for foreign investors as provided by the exchange on which they trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities and certain foreign futures contracts to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities and foreign futures contracts that meet certain criteria, the Portfolio's Trustees have approved the use of a fair value service that values such securities and foreign futures contracts to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities and foreign futures contracts.**

**Other. Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day.**

**Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Trustees have designated the Portfolio's investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security's "fair value", which is the amount that the Portfolio might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual**

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

------

restrictions on the security's disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company's or entity's financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

B Investment Transactions—Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

C Income—Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. However, if the ex-dividend date has passed, certain dividends from foreign securities are recorded as the Portfolio is informed of the ex-dividend date. Withholding taxes on foreign dividends, interest and capital gains have been provided for in accordance with the Portfolio's understanding of the applicable countries' tax rules and rates. Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount.

D Federal and Other Taxes—The Portfolio has elected to be treated as a partnership for federal tax purposes. No provision is made by the Portfolio for federal or state taxes on any taxable income of the Portfolio because each investor in the Portfolio is ultimately responsible for the payment of any taxes on its share of taxable income. Since at least one of the Portfolio's investors is a regulated investment company that invests all or substantially all of its assets in the Portfolio, the Portfolio normally must satisfy the applicable source of income and diversification requirements (under the Internal Revenue Code) in order for its investors to satisfy them. The Portfolio will allocate, at least annually among its investors, each investor's distributive share of the Portfolio's net investment income, net realized capital gains and losses and any other items of income, gain, loss, deduction or credit.

In addition to the requirements of the Internal Revenue Code, the Portfolio may also be subject to local taxes on the recognition of capital gains in certain countries. In determining the daily net asset value, the Portfolio estimates the accrual for such taxes, if any, based on the unrealized appreciation on certain portfolio securities and the related tax rates. Taxes attributable to unrealized appreciation are included in the change in unrealized appreciation (depreciation) on investments. Capital gains taxes on securities sold are included in net realized gain (loss) on investments.

As of October 31, 2025, the Portfolio had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Portfolio files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.

E Foreign Currency Translation—Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

F Use of Estimates—The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

G Indemnifications—Under the Portfolio's organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Portfolio. Under Massachusetts law, if certain conditions prevail, interestholders in the Portfolio could be deemed to have personal liability for the obligations of the Portfolio. However, the Portfolio's Declaration of Trust contains an express disclaimer of liability on the part of Portfolio interestholders. Additionally, in the normal course of business, the Portfolio enters into agreements with service providers that may contain indemnification clauses. The Portfolio's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolio that have not yet occurred.

H Futures Contracts—Upon entering into a futures contract, the Portfolio is required to deposit with the broker, either in cash or securities, an amount equal to a certain percentage of the contract amount (initial margin). Subsequent payments, known as variation margin, are made or received by the Portfolio each business day, depending on the daily fluctuations in the value of the underlying security or index, and are recorded as unrealized gains or losses by the Portfolio. Gains (losses) are realized upon the expiration or closing of the futures contracts. Should market conditions change unexpectedly, the Portfolio may not achieve the anticipated benefits of the futures contracts and may realize a loss. Futures contracts have minimal counterparty risk as they are exchange traded and the clearinghouse for the exchange is substituted as the counterparty, guaranteeing counterparty performance.

I Forward Foreign Currency Exchange Contracts—The Portfolio may enter into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. The forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded as unrealized until such time as the contracts have been closed. While forward foreign currency exchange contracts are privately negotiated agreements between the Portfolio and a counterparty, certain contracts may be "centrally cleared", whereby all payments made or received by the Portfolio pursuant to the contract are with a central clearing party (CCP) rather than the original counterparty. The CCP guarantees the performance of the original parties to the contract. Upon entering into centrally cleared contracts, the Portfolio is required to deposit with

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

------

the CCP, either in cash or securities, an amount of initial margin determined by the CCP, which is subject to adjustment. For centrally cleared contracts, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. Risks may arise upon entering these contracts from the potential inability of counterparties to meet the terms of their contracts and from movements in the value of a foreign currency relative to the U.S. dollar. In the case of centrally cleared contracts, counterparty risk is minimal due to protections provided by the CCP.

J Purchased Options—Upon the purchase of a call or put option, the premium paid by the Portfolio is included in the Statement of Assets and Liabilities as an investment. The amount of the investment is subsequently marked-to-market to reflect the current market value of the option purchased, in accordance with the Portfolio's policies on investment valuations discussed above. Premiums paid for purchasing options that expire are treated as realized losses. Premiums paid for purchasing options that are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying investment transaction to determine the realized gain or loss. The risk associated with purchasing options is limited to the premium originally paid. Purchased options traded over-the-counter involve risk that the issuer or counterparty will fail to perform its contractual obligations.

K Total Return Swaps—In a total return swap, the buyer receives a periodic return equal to the total return of a specified security, securities or index for a specified period of time. In return, the buyer pays the counterparty a fixed or variable stream of payments, typically based upon short-term interest rates, possibly plus or minus an agreed upon spread. During the term of the outstanding swap agreement, changes in the underlying value of the swap are recorded as unrealized gains and losses. Periodic payments received or made are recorded as realized gains or losses. The Portfolio is exposed to credit loss in the event of nonperformance by the swap counterparty. Risk may also arise from the unanticipated movements in value of exchange rates, interest rates, securities, or the index.

L Segment Reporting—During this reporting period, the Portfolio adopted FASB Accounting Standards Update No. 2023-07, *Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures* (ASU 2023-07), which requires incremental disclosures related to a public entity's reportable segments. The Portfolio operates as a single reportable segment, an investment company whose investment objective(s) is included in Note 1. In connection with the adoption of ASU 2023-07, the Portfolio's President acts as the Portfolio's Chief Operating Decision Maker (CODM), who is responsible for assessing the performance of the Portfolio's single segment and deciding how to allocate the segment's resources. To perform this function, the CODM reviews the information in the Portfolio's financial statements.

2 Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by Boston Management and Research (BMR), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Portfolio. The investment adviser fee is computed at an annual rate as a percentage of the Portfolio's average daily net assets as follows and is payable monthly:

---

| | |
|:---|:---|
| **Average Daily Net Assets** | &nbsp;&nbsp;&nbsp;&nbsp;**Annual Fee Rate** |
| Up to $500 million | &nbsp;&nbsp;&nbsp;&nbsp;1.000% |
| $500 million but less than $1 billion | &nbsp;&nbsp;&nbsp;&nbsp;0.950% |
| $1 billion but less than $2.5 billion | &nbsp;&nbsp;&nbsp;&nbsp;0.925% |
| $2.5 billion but less than $5 billion | &nbsp;&nbsp;&nbsp;&nbsp;0.900% |
| $5 billion and over | &nbsp;&nbsp;&nbsp;&nbsp;0.880% |

---

For the year ended October 31, 2025, the Portfolio's investment adviser fee amounted to $16,328,971 or 0.95% of the Portfolio's average daily net assets. Pursuant to an investment sub-advisory agreement, BMR has delegated a portion of the investment management of the Portfolio to Eaton Vance Advisers International Ltd. (EVAIL), an affiliate of BMR and an indirect, wholly-owned subsidiary of Morgan Stanley. BMR pays EVAIL a portion of its investment adviser fee for sub-advisory services provided to the Portfolio.

The Portfolio may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the "Liquidity Fund"), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment adviser fee paid by the Portfolio is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Portfolio due to its investment in the Liquidity Fund. For the year ended October 31, 2025, the investment adviser fee paid was reduced by $154,859 relating to the Portfolio's investment in the Liquidity Fund.

Trustees and officers of the Portfolio who are members of BMR's organization receive remuneration for their services to the Portfolio out of the investment adviser fee. Trustees of the Portfolio who are not affiliated with the investment adviser may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. Certain officers and Trustees of the Portfolio are officers of the above organization.

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

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3 Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations, aggregated $1,738,663,008 and $825,829,811, respectively, for the year ended October 31, 2025.

4 Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the Portfolio at October 31, 2025, as determined on a federal income tax basis, were as follows:

---

| | |
|:---|:---|
| **Aggregate cost** | &nbsp;&nbsp;**$2043877829** |
| Gross unrealized appreciation | &nbsp;&nbsp;$531936857 |
| Gross unrealized depreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(36460393) |
| **Net unrealized appreciation** | &nbsp;&nbsp;**$495476464** |

---

5 Financial Instruments

The Portfolio may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. These financial instruments may include forward foreign currency exchange contracts, futures contracts and swap contracts and may involve, to a varying degree, elements of risk in excess of the amounts recognized for financial statement purposes. The notional or contractual amounts of these instruments represent the investment the Portfolio has in particular classes of financial instruments and do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. A summary of obligations under these financial instruments at October 31, 2025 is included in the Portfolio of Investments. At October 31, 2025, the Portfolio had sufficient cash and/or securities to cover commitments under these contracts.

In the normal course of pursuing its investment objective, the Portfolio is subject to the following risks:

Equity Price Risk: The Portfolio entered into equity index futures contracts, equity index options and total return swaps to enhance total return, to manage certain investment risks and/or as a substitute for the purchase of securities.

Foreign Exchange Risk: The Portfolio engaged in forward foreign currency exchange contracts and currency options to enhance total return, to seek to hedge against fluctuations in currency exchange rates and/or as a substitute for the purchase or sale of securities or currencies.

The Portfolio enters into over-the-counter (OTC) derivatives that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Portfolio's net assets below a certain level over a certain period of time, which would trigger a payment by the Portfolio for those derivatives in a liability position. At October 31, 2025, the Fund had no open derivatives with credit-related contingent features in a net liability position.

The OTC derivatives in which the Portfolio invests (except for written options as the Portfolio, not the counterparty, is obligated to perform) are subject to the risk that the counterparty to the contract fails to perform its obligations under the contract. To mitigate this risk, the Portfolio has entered into an International Swaps and Derivatives Association, Inc. Master Agreement ("ISDA Master Agreement") or similar agreement with substantially all its derivative counterparties. An ISDA Master Agreement is a bilateral agreement between the Portfolio and a counterparty that governs certain OTC derivatives and typically contains, among other things, set-off provisions in the event of a default and/or termination event as defined under the relevant ISDA Master Agreement. Under an ISDA Master Agreement, the Portfolio may, under certain circumstances, offset with the counterparty certain derivative financial instruments' payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy or insolvency. Certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event the Portfolio's net assets decline by a stated percentage or the Portfolio fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Portfolio of any net liability owed to it.

The collateral requirements for derivatives traded under an ISDA Master Agreement are governed by a Credit Support Annex to the ISDA Master Agreement. Collateral requirements are determined at the close of business each day and are typically based on changes in market values for each transaction under an ISDA Master Agreement and netted into one amount for such agreement. Generally, the amount of collateral due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of the Portfolio and/or counterparty is held in segregated accounts by the Portfolio's custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as deposits for derivatives collateral and, in the case of cash pledged by a counterparty for

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

------

the benefit of the Portfolio, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Portfolio as collateral, if any, are identified as such in the Portfolio of Investments. The carrying amount of the liability for cash collateral due to brokers at October 31, 2025 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 9) at October 31, 2025.

The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at October 31, 2025 was as follows:

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Fair Value** | &nbsp;&nbsp;**Fair Value** |
| **Statement of Assets and Liabilities Caption** | &nbsp;&nbsp;**Equity<br> Price** | &nbsp;&nbsp;**Foreign<br> Exchange** | &nbsp;&nbsp;**Total** |
| Unaffiliated investments, at value | &nbsp;&nbsp;$9016736 | &nbsp;&nbsp;$1458709 | &nbsp;&nbsp;$10475445 |
| Not applicable | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;107115<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6645101<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6752216 |
| Receivable for open swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482880 |
| **Total Asset Derivatives** | &nbsp;&nbsp;**$17606731** | &nbsp;&nbsp;**$8103810** | &nbsp;&nbsp;**$25710541** |
| **Derivatives not subject to master netting or similar agreements** | &nbsp;&nbsp;**$9123851** | &nbsp;&nbsp;**$6645101** | &nbsp;&nbsp;**$15768952** |
| **Total Asset Derivatives subject to master netting or similar agreements** | &nbsp;&nbsp;**$8482880** | &nbsp;&nbsp;**$1458709** | &nbsp;&nbsp;**$9941589** |
| Not applicable | &nbsp;&nbsp;$(1674581)<sup>(1)</sup> | &nbsp;&nbsp;$(9579215)<sup>(1)</sup> | &nbsp;&nbsp;$(11253796) |
| **Total Liability Derivatives not subject to master netting or similar agreements** | &nbsp;&nbsp;**$(1674581)** | &nbsp;&nbsp;**$(9579215)** | &nbsp;&nbsp;**$(11253796)** |

---

<sup>(1)</sup> Only the current day's variation margin on open futures contracts and centrally cleared derivatives is reported within the Statement of Assets and Liabilities as Receivable or Payable for variation margin on open futures contracts and centrally cleared derivatives, as applicable.

The Portfolio's derivative assets and liabilities at fair value by risk, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following tables present the Portfolio's derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement and net of the related collateral received by the Portfolio for such assets and pledged by the Portfolio for such liabilities as of October 31, 2025.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Counterparty** | &nbsp;&nbsp;&nbsp;**Derivative<br> Assets Subject to<br> Master Netting<br> Agreement** | &nbsp;&nbsp;&nbsp;**Derivatives<br> Available<br> for Offset** | &nbsp;&nbsp;&nbsp;**Non-cash<br> Collateral<br> Received<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Cash<br> Collateral<br> Received<sup>(a)</sup>** | &nbsp;&nbsp;&nbsp;**Net Amount<br> of Derivative<br> Assets<sup>(b)</sup>** |
| JPMorgan Chase Bank, N.A. | &nbsp;&nbsp;&nbsp;$4566514 | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$(4566514) | &nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$— |
| UBS AG | &nbsp;&nbsp;&nbsp;&nbsp;5375075 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(5375075) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp;**$9941589** | &nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;**$(9941589)** | &nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;**$—** |

---

<sup>(a)</sup> In some instances, the total collateral received and/or pledged may be more than the amount shown due to overcollateralization.

<sup>(b)</sup> Net amount represents the net amount due from the counterparty in the event of default.

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

------

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations by risk exposure for the year ended October 31, 2025 was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Statement of Operations Caption** | &nbsp;&nbsp;**Equity<br> Price** | &nbsp;&nbsp;**Foreign<br> Exchange** | &nbsp;&nbsp;**Interest<br> Rate** | &nbsp;&nbsp;**Total** |
| Net realized gain (loss): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investment transactions | &nbsp;&nbsp;&nbsp;&nbsp;$10388422<sup>(1)</sup> | &nbsp;&nbsp;$(262860)<sup>(1)</sup> | &nbsp;&nbsp;$— | &nbsp;&nbsp;$10125562 |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6650982) | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6650982) |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;12853005 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;2554714 | &nbsp;&nbsp;&nbsp;&nbsp;15407719 |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(8664634) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8664634) |
| **Total** | &nbsp;&nbsp;**$16590445** | &nbsp;&nbsp;**$(8927494)** | &nbsp;&nbsp;**$2554714** | &nbsp;&nbsp;**$10217665** |
| Change in unrealized appreciation (depreciation): |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments | &nbsp;&nbsp;$(4326049)<sup>(1)</sup> | &nbsp;&nbsp;$(575684)<sup>(1)</sup> | &nbsp;&nbsp;$— | &nbsp;&nbsp;$(4901733) |
| &nbsp;&nbsp;&nbsp;Futures contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543561 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1543561 |
| &nbsp;&nbsp;&nbsp;Swap contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482880 | &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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8482880 |
| &nbsp;&nbsp;&nbsp;Forward foreign currency exchange contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;(3191261) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3191261) |
| **Total** | &nbsp;&nbsp;**$5700392** | &nbsp;&nbsp;**$(3766945)** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$1933447** |

---

<sup>(1)</sup> Relates to purchased options.

The average notional cost of futures contracts and average notional amounts of other derivative contracts outstanding during the year ended October 31, 2025, which are indicative of the volume of these derivative types, were approximately as follows:

---

| | | |
|:---|:---|:---|
| **Futures<br> Contracts — Long** | &nbsp;&nbsp;&nbsp;&nbsp;**Forward<br> Foreign Currency<br> Exchange Contracts<sup>(1)</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;**Swap<br> Contracts** |
| $115773000 | &nbsp;&nbsp;&nbsp;&nbsp;$981627000 | &nbsp;&nbsp;&nbsp;&nbsp;$53436000 |

---

<sup>(1)</sup> The average notional amount for forward foreign currency exchange contracts is based on the absolute value of notional amounts of currency purchased and currency sold.

The average number of purchased equity index options contracts outstanding during the year ended October 31, 2025, which is indicative of the volume of this derivative type, was 4,788 contracts. The average principal amount of purchased currency options contracts outstanding during the year ended October 31, 2025, which is indicative of the volume of this derivative type, was approximately $85,198,000.

6 Line of Credit

The Portfolio participates with other portfolios and funds managed by BMR and its affiliates in a $650 million unsecured revolving line of credit agreement with a group of banks, which is in effect through October 20, 2026. Borrowings are made by the Portfolio solely for temporary purposes related to redemptions and other short-term cash needs. Interest is charged to the Portfolio based on its borrowings generally at an amount above either the Secured Overnight Financing Rate (SOFR) or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. In connection with the renewal of the agreement in October 2025, an arrangement fee of $150,000 was incurred that was allocated to the participating portfolios and funds. Because the line of credit is not available exclusively to the Portfolio, it may be unable to borrow some or all of its requested amounts at any particular time. The Portfolio did not have any significant borrowings or allocated fees during the year ended October 31, 2025.

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

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7 Securities Lending Agreement

The Portfolio has established a securities lending agreement with State Street Bank and Trust Company (SSBT) as securities lending agent in which the Portfolio lends portfolio securities to qualified borrowers in exchange for collateral consisting of either cash or securities issued or guaranteed by the U.S. government or its agencies or instrumentalities in an amount at least equal to the market value of the securities on loan. The market value of securities loaned is determined daily and any additional required collateral is delivered to the Portfolio on the next business day. Cash collateral is invested in the State Street Navigator Securities Lending Government Money Market Portfolio, a money market fund registered under the 1940 Act. The Portfolio earns interest on the amount invested but it must pay (and at times receive from) the broker a loan rebate fee computed as a varying percentage of the collateral received. For security loans secured by non-cash collateral, the Portfolio earns a negotiated lending fee from the borrower. A portion of the income earned by the Portfolio from its investment of cash collateral, net of rebate fees, and lending fees received is allocated to SSBT for its services as lending agent and the portion allocated to the Portfolio is presented as securities lending income, net on the Statement of Operations. Non-cash collateral is held by the lending agent on behalf of the Portfolio and cannot be sold or re-pledged by the Portfolio; accordingly, such collateral is not reflected in the Statement of Assets and Liabilities.

The Portfolio is subject to possible delay in the recovery of loaned securities. Pursuant to the securities lending agreement, SSBT has provided indemnification to the Portfolio in the event of default by a borrower with respect to a loan. The Portfolio bears the risk of loss with respect to the investment of cash collateral.

The Portfolio did not have any securities on loan at October 31, 2025.

8 Affiliated Investments

At October 31, 2025, the value of the Portfolio's investment in funds that may be deemed to be affiliated was $90,198,552, which represents 3.5% of the Portfolio's net assets. Transactions in such investments by the Portfolio for the year ended October 31, 2025 were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Value,<br> beginning<br> of period** | **Purchases** | **Sales<br> proceeds** | **Net realized<br> gain (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Value, end<br> of period** | **Dividend<br> income** | **Shares,<br> end of period** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |
| Liquidity Fund | $50579542 | $1327323482 | $(1287704472) | $— | $— | $90198552 | $4515854 | 90198552 |

---

9 Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At October 31, 2025, the hierarchy of inputs used in valuing the Portfolio's investments and open derivative instruments, which are carried at fair value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Africa | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$152770178 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$152770178 |
| &nbsp;&nbsp;&nbsp;Asia | &nbsp;&nbsp;&nbsp;&nbsp; 35227173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1203737401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1238964574 |
| &nbsp;&nbsp;&nbsp;Developed Europe | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75085294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75085294 |
| &nbsp;&nbsp;&nbsp;Emerging Europe | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443908963 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443908963 |

---

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description (continued)** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3\*** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| &nbsp;&nbsp;&nbsp;Latin America | &nbsp;&nbsp;$116717897 | &nbsp;&nbsp;&nbsp;&nbsp;$153504740 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$270222637 |
| &nbsp;&nbsp;&nbsp;Middle East | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222665135 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222665135 |
| &nbsp;&nbsp;&nbsp;North America | &nbsp;&nbsp;&nbsp;&nbsp; 996360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10915659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11912019 |
| **Total Common Stocks** | &nbsp;&nbsp;**$152941430** | &nbsp;&nbsp;&nbsp;&nbsp;**$2,262,587,370\*\*** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$2415528800** |
| Loan Participation Notes | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$3382174 | &nbsp;&nbsp;&nbsp;&nbsp;$3382174 |
| Preferred Stocks | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17303 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17303 |
| Rights | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 823291 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 823291 |
| Sovereign Government Bonds | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6948609 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6948609 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Affiliated Fund | &nbsp;&nbsp;&nbsp;&nbsp; 90198552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90198552 |
| &nbsp;&nbsp;&nbsp;U.S. Treasury Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16448435 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16448435 |
| Purchased Currency Options | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1458709 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1458709 |
| Purchased Call Options | &nbsp;&nbsp;&nbsp;&nbsp; 9016736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9016736 |
| **Total Investments** | &nbsp;&nbsp;**$252156718** | &nbsp;&nbsp;&nbsp;&nbsp;**$2288283717** | &nbsp;&nbsp;&nbsp;&nbsp;**$3382174** | &nbsp;&nbsp;&nbsp;&nbsp;**$2543822609** |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$6645101 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$6645101 |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107115 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107115 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8482880 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8482880 |
| **Total** | &nbsp;&nbsp;**$252156718** | &nbsp;&nbsp;&nbsp;&nbsp;**$2303518813** | &nbsp;&nbsp;&nbsp;&nbsp;**$3382174** | &nbsp;&nbsp;&nbsp;&nbsp;**$2559057705** |
| **Liability Description** |  |  |  |  |
| Forward Foreign Currency Exchange Contracts | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(9579215) | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$(9579215) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1674581) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1674581) |
| **Total** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11253796)** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$(11253796)** |

---

\* None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Portfolio.

\*\* 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.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the year ended October 31, 2025 is not presented.

10 Risks and Uncertainties

#### Risks Associated with Foreign Investments
Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country, and by acts of terrorism and war. There may be less publicly available information about foreign issuers because they may not be subject to reporting practices, requirements or regulations comparable to those to which United States companies are subject. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States. Trading in foreign markets typically involves higher expense than trading in the United States. The Portfolio may have difficulties enforcing its legal or contractual rights in a foreign country. Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates.

Emerging market securities often involve greater risks than developed market securities. Investment markets within emerging market countries are typically smaller, less liquid, less developed and more volatile than those in more developed markets like the United States, and may be focused in certain economic sectors. The information available about an emerging market issuer may be less reliable than for comparable issuers in more developed capital markets. Governmental actions can have a significant effect on the economic conditions in emerging market countries. It may be more difficult to make a claim or obtain a judgment in the courts of these countries than it is in the United States. The possibility of fraud, negligence, undue influence being exerted by an issuer or refusal to recognize ownership exists in some emerging markets. Disruptions due to work stoppages and trading improprieties in foreign securities markets have caused such markets to close. Emerging market securities are also subject to speculative trading, which contributes to their volatility.

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Notes to Financial Statements — continued

------

Frontier markets are among the smallest and least mature investment markets. Frontier market countries may have greater political or economic instability and may also be subject to trade barriers, adjustments in currency values and developing or changing securities laws and other regulations. Investments in frontier market countries generally are less liquid and subject to greater price volatility than investments in developed markets or emerging markets.

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Global Macro Capital Opportunities Portfolio

October 31, 2025

Report of Independent Registered Public Accounting Firm

------

To the Trustees and Investors of Global Macro Capital Opportunities Portfolio:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Global Macro Capital Opportunities Portfolio (the "Portfolio"), including the portfolio of investments, as of October 31, 2025, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes (collectively referred to as the "financial statements and financial highlights"). In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Portfolio as of October 31, 2025, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Portfolio's management. Our responsibility is to express an opinion on the Portfolio's financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Portfolio in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB and in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Portfolio is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Portfolio's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2025, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Boston, Massachusetts

December 19, 2025

We have served as the auditor of one or more Eaton Vance investment companies since 1959.

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Eaton Vance

Emerging and Frontier Countries Equity Fund

October 31, 2025

Board of Trustees' Contract Approval

------

Overview of the Contract Review Process

The Investment Company Act of 1940, as amended (the "1940 Act"), provides, in substance, that the investment advisory agreement between a fund and its investment adviser will continue in effect from year-to-year only if its continuation is approved on an annual basis by a vote of the fund's board of trustees, including a majority of the trustees who are not "interested persons" of the fund ("independent trustees"), cast in person at a meeting called for the purpose of considering such approval.

At a meeting held on June 12, 2025, the Boards of Trustees/Directors (collectively, the "Board") that oversee the registered investment companies advised by Eaton Vance Management or its affiliate, Boston Management and Research (the "Eaton Vance Funds"), including a majority of the independent trustees (the "Independent Trustees"), voted to approve the continuation of existing investment advisory agreements and sub-advisory agreements<sup>1</sup> for each of the Eaton Vance Funds for an additional one-year period. The Board relied upon the affirmative recommendation of its Contract Review Committee, which is a committee comprised of all of the Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by the adviser and sub-adviser to each of the Eaton Vance Funds (including information specifically requested by the Board) for a series of meetings held between April and June 2025, as well as certain additional information provided in response to specific requests from the Independent Trustees as members of the Contract Review Committee. Members of the Contract Review Committee also considered information received at prior meetings of the Board and its committees, to the extent such information was relevant to the Contract Review Committee's annual evaluation of the investment advisory agreements and sub-advisory agreements.

In connection with its evaluation of the investment advisory agreements and sub-advisory agreements, the Board (directly or through one or more of its committees) considered various information relating to the Eaton Vance Funds. This included information applicable to all or groups of the Eaton Vance Funds, which is referenced immediately below, and information applicable to the particular Eaton Vance Fund covered by this report (each Eaton Vance Fund is referred to below as a "fund"). (For funds that invest through one or more underlying portfolios, references to "each fund" in this section may include information that was considered at the portfolio-level.)

*Information about Fees, Performance and Expenses*

• A report from an independent data provider comparing advisory and other fees paid by each fund to such fees paid by comparable funds, as identified by the independent data provider ("comparable funds");

• A report from an independent data provider comparing each fund's total expense ratio (and its components) to those of comparable funds;

• A report from an independent data provider comparing the investment performance of each fund to the investment performance of comparable funds and, as applicable, benchmark indices, over various time periods;

• In certain instances, data regarding investment performance relative to customized groups of peer funds and blended indices identified by the adviser in consultation with the Portfolio Management Committee of the Board (a committee exclusively comprised of Independent Trustees);

• Comparative information concerning the fees charged and services provided by the adviser and sub-adviser to each fund in managing other accounts (which may include other funds, collective investment trusts and institutional accounts) with the same or substantially similar investment objective as the fund and with a significant overlap in holdings based on criteria set by the Board, if any;

• Profitability analyses on a fund-by-fund basis for the adviser and its affiliates and for each sub-adviser not affiliated with the adviser;

*Information about Portfolio Management and Trading*

• Descriptions of the investment management services provided to each fund, as well as each of the funds' investment strategies and policies;

• The procedures and processes used by the adviser to determine the value of fund assets, including, when necessary, the determination of "fair value" by the adviser in its role as each fund's valuation designee and actions taken to monitor and test the effectiveness of such procedures and processes;

• Information about the policies and practices of each fund's adviser and sub-adviser with respect to trading, including their processes for seeking best execution of portfolio transactions;

• Information about the allocation of brokerage transactions and the benefits, if any, received by the adviser and sub-adviser to each fund as a result of brokerage allocation, including, as applicable, information concerning the acquisition of research through client commission arrangements and policies with respect to "soft dollars";

• Data relating to the portfolio turnover rate of each fund and related information regarding active management in the context of particular strategies;

*Information about each Adviser and Sub-Adviser*

• Reports regarding the financial results and condition of the adviser and certain of its affiliates and of each sub-adviser not affiliated with the adviser;

<sup>1</sup>&nbsp;&nbsp;&nbsp;&nbsp;Not all Eaton Vance Funds have entered into a sub-advisory agreement with a sub-adviser. Accordingly, references to "sub-adviser" or "sub-advisory agreement" in this "Overview" section may not be applicable to the particular Eaton Vance Fund covered by this report. Eaton Vance Management and Boston Management and Research are referred to collectively as the "adviser."

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Eaton Vance

Emerging and Frontier Countries Equity Fund

October 31, 2025

Board of Trustees' Contract Approval — continued

------

• Information regarding the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and, for portfolio managers and certain other investment professionals, information relating to their responsibilities with respect to managing other funds and investment accounts, as applicable;

• Information regarding the adviser's and its parent company's (Morgan Stanley's) efforts to retain and attract talented investment professionals, including in the context of a competitive marketplace for talent;

• Information regarding the adviser's compensation methodology for its investment professionals and the incentives and accountability it creates, along with investment professionals' investments in the fund(s) they manage;

• The personal trading codes of ethics of the adviser and its affiliates and the sub-adviser of each fund, together with information relating to compliance with, and the administration of, such codes;

• Policies and procedures relating to proxy voting, including regular reporting with respect to fund proxy voting activities;

• Information regarding the handling of corporate actions and class actions, as well as information regarding litigation and other regulatory matters;

• Information concerning the resources devoted to compliance efforts undertaken by the adviser and its affiliates and the sub-adviser of each fund, including descriptions of their various compliance programs and their record of compliance and remediation;

• Information concerning the business continuity and disaster recovery plans of the adviser and its affiliates and the sub-adviser of each fund;

• A description of the adviser's oversight of sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters, if any;

*Other Relevant Information*

• Information regarding ongoing initiatives to further integrate and harmonize, where applicable, the investment management and other departments of the adviser and its affiliates with the overall investment management infrastructure of Morgan Stanley, in light of Morgan Stanley's acquisition of Eaton Vance Corp. on March 1, 2021;

• Information concerning the nature, cost, and character of the administrative and other non-investment advisory services provided by the adviser and its affiliates;

• Information concerning oversight of the relationship with the custodian, subcustodians, fund accountants, and other third-party service providers by the adviser and/or administrator to each of the funds;

• Information concerning efforts to maintain policies and procedures with respect to various regulations applicable to the funds, including, without limitation, Rule 22e-4 (the Liquidity Risk Management Rule), Rule 12d1-4 (the Fund-of-Funds Rule), Rule 18f-4 (the Derivatives Rule), and Rule 2a-5 (the Fair Valuation Rule);

• For the Eaton Vance Fund structured as an interval fund, information regarding the interval fund's periodic repurchase offers under Rule 23c-3 and related policies and procedures;

• For each Eaton Vance Fund structured as an exchange-listed closed-end fund, information concerning the benefits of the closed-end fund structure, as well as, where relevant, the closed-end fund's market prices (including as compared to the closed-end fund's net asset value (NAV)), trading volume data, continued use of auction preferred shares (where applicable), distribution rates, and other relevant matters;

• The risks that the adviser and/or its affiliates incur in connection with the management and operation of the funds, including, among others, litigation, regulatory, entrepreneurial, data privacy and cybersecurity, and other business risks (and the associated costs of such risks, if any); and

• The terms of each investment advisory agreement and sub-advisory agreement.

During the various meetings of the Board and its committees over the course of the year leading up to the June 12, 2025 meeting, the Board and its committees received information from portfolio managers and other investment professionals of the adviser and sub-advisers of the funds regarding investment and performance matters, and considered various investment and trading strategies used in pursuing the funds' investment objectives. The Board and its committees also received information regarding risk management techniques employed in connection with the management of the funds. The Board and its committees evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance, and other issues with respect to the funds, and received and participated in reports and presentations provided by the adviser, sub-advisers, and certain other service providers, with respect to such matters. In addition to the formal meetings of the Board and its committees, the Independent Trustees met in executive sessions and held regular video or telephone conferences to discuss, among other topics, matters relating to the continuation of investment advisory agreements and sub-advisory agreements.

Each of the Contract Review Committee and the Board was advised throughout the contract review process by Kirkland & Ellis LLP, independent legal counsel for the Independent Trustees. The members of the Contract Review Committee and the members of the Board, with the advice of such counsel, exercised their own business judgment in determining the material factors to be considered in evaluating each investment advisory agreement and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment advisory agreement and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee and Board may have placed varying emphasis on particular factors in reaching conclusions with respect to each investment advisory agreement and sub-advisory agreement. In evaluating each investment advisory agreement and sub-advisory agreement, including the fee structures and other terms contained in such agreements, the members of the Contract Review Committee and Board were also informed by multiple years of analysis and discussion with the adviser and sub-adviser to each of the Eaton Vance Funds.

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Eaton Vance

Emerging and Frontier Countries Equity Fund

October 31, 2025

Board of Trustees' Contract Approval — continued

------

Results of the Contract Review Process

Based on its consideration of the foregoing, and such other information it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement between Eaton Vance Emerging and Frontier Countries Equity Fund (the "Fund") and Eaton Vance Management ("EVM"), as well as the investment advisory agreement between Global Macro Capital Opportunities Portfolio (the "Portfolio"), the portfolio in which the Fund invests, and Boston Management and Research ("BMR") (EVM, with respect to the Fund, and BMR, with respect to the Portfolio, are each referred to herein as the "Adviser"), and the sub-advisory agreement between EVM and Eaton Vance Advisers International Ltd. (the "Sub-adviser"), an affiliate of the Advisers, with respect to the Fund, and the sub-advisory agreement between BMR and the Sub-adviser, with respect to the Portfolio, including their respective fee structures, are in the interests of shareholders and, therefore, recommended to the Board approval of each agreement. Based on the recommendation of the Contract Review Committee, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory agreement for the Fund and the investment advisory agreement for the Portfolio (together, the "investment advisory agreements") and the sub-advisory agreements for the Fund and the Portfolio (together, the "sub-advisory agreements").

*Nature, Extent and Quality of Services*

In considering whether to approve the investment advisory agreements and sub-advisory agreements for the Fund and the Portfolio, the Board evaluated the nature, extent and quality of services provided to the Fund and the Portfolio by the applicable Adviser and the Sub-adviser, respectively.

The Board considered each Adviser's and the Sub-adviser's management capabilities and investment processes in light of the types of investments held by the Fund and the Portfolio, including the education and experience of the investment professionals who provide services to the Fund and the Portfolio. In this regard, the Board considered each Adviser's responsibilities with respect to oversight of the Sub-adviser. In particular, the Board considered the abilities and experience of each Adviser's and the Sub-adviser's investment professionals in investing in equity securities traded in developed, emerging, frontier, and off-index markets. The Board considered the international investment capabilities of the Sub-adviser, which is based in London, and the benefits to the Fund and the Portfolio of having portfolio management services involving investments in international equities provided by investment professionals located abroad. The Board also took into account the resources dedicated to portfolio management and other services, the compensation methods of each Adviser and other factors, including the reputation and resources of the Adviser to recruit and retain highly qualified research, advisory and supervisory investment professionals. In addition, the Board considered the time and attention devoted to the Eaton Vance Funds, including the Fund and the Portfolio, by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the portfolio management and operations of the Fund and the Portfolio, including the provision of administrative services. The Board also considered the business-related and other risks to which each Adviser or its affiliates may be subject in managing the Fund and the Portfolio.

The Board noted that, under the terms of the investment advisory agreement of the Fund, EVM may invest assets of the Fund directly in securities, for which it would receive a fee, or in the Portfolio, for which it receives no separate fee but for which BMR receives an advisory fee from the Portfolio.

The Board considered the compliance programs of each Adviser and relevant affiliates thereof, including the Sub-adviser. The Board considered compliance and reporting matters regarding, among other things, personal trading by investment professionals, disclosure of portfolio holdings, compliance with policies and procedures, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also considered relevant examinations of each Adviser and its affiliates by regulatory authorities, such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

The Board considered other administrative services provided or overseen by EVM and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large fund complex offering exposure to a variety of asset classes and investment disciplines, as well as the ability, in many cases, to exchange an investment among different funds without incurring additional sales charges.

After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by each Adviser and the Sub-adviser, taken as a whole, are appropriate and consistent with the terms of the applicable investment advisory agreement.

*Fund Performance*

The Board compared the Fund's investment performance to that of comparable funds identified by an independent data provider (the peer group), as well as appropriate benchmark indices. The Board's review included comparative performance data with respect to the Fund for the one-, three-, five- and ten-year periods ended December 31, 2024. In this regard, the Board noted that the performance of the Fund was higher than the median performance of the Fund's peer group for the three-year period. The Board also noted that the performance of the Fund was higher than its primary performance, secondary and custom benchmark indexes for the three-year period. The Board concluded that the performance of the Fund was satisfactory.

------

[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

Eaton Vance

Emerging and Frontier Countries Equity Fund

October 31, 2025

Board of Trustees' Contract Approval — continued

------

*Management Fees and Expenses*

The Board considered contractual fee rates payable by the Fund and by the Portfolio for advisory and administrative services (referred to collectively as "management fees"). As part of its review, the Board considered the Fund's management fees and total expense ratio for the one-year period ended December 31, 2024, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also considered certain factors identified by management in response to requests from the Contract Review Committee regarding the Fund's total expense ratio relative to comparable funds.

After considering the foregoing information, and in light of the nature, extent and quality of the services provided by each Adviser and the Sub-adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.

*Profitability and "Fall-Out" Benefits*

The Board considered the level of profits realized by each Adviser and relevant affiliates thereof, including the Sub-adviser, in providing investment advisory and administrative services to the Fund, to the Portfolio and to all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to marketing support or other payments by each Adviser and its affiliates to third parties in respect of distribution or other services.

The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by each Adviser and its affiliates, including the Sub-adviser, are not excessive.

The Board also considered direct or indirect fall-out benefits received by each Adviser and its affiliates, including the Sub-adviser, in connection with their respective relationships with the Fund and the Portfolio, including the benefits of research services that may be available to each Adviser or the Sub-adviser as a result of securities transactions effected for the Fund and the Portfolio and other investment advisory clients.

*Economies of Scale*

In reviewing management fees and profitability, the Board also considered the extent to which the applicable Adviser and its affiliates, on the one hand, and the Fund and the Portfolio, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund and the Portfolio increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from economies of scale, if any, with respect to the management of any specific fund or group of funds. To assist in the evaluation of the sharing of any economies of scale, the Board received data for recent years showing asset levels, Adviser profitability and total expense ratios. Based upon the foregoing, the Board concluded that the Fund currently shares in the benefits from economies of scale, if any, when they are realized by the Adviser. The Board also concluded that the structure of the advisory fees, which include breakpoints at several asset levels, will allow the Fund and the Portfolio to continue to benefit from any economies of scale in the future.

------

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[**Table of Contents**](#JOB_EV_AR_52ebf622-3dc1-4593-8a49-bce9e6458a26_TOC)

EACOX-NCSR&nbsp;&nbsp;&nbsp;&nbsp;10.31.25

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#### Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.

#### Item 9. Proxy Disclosures for Open-End Management Investment Companies
Not applicable.

#### Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.

#### Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract
The information is included in Item 7 of this Form N-CSR.

#### Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.

#### Item 13. Portfolio Managers of Closed-End Management Investment Companies
Not applicable.

#### Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.

#### Item 15. Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominee to the Portfolio's Board of Trustees since the Portfolio last provided disclosure in response to this item.

#### Item 16. Controls and Procedures
(a) It is the conclusion of the registrant's principal executive officer and principal financial officer that the effectiveness of the registrant's current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission's rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant's principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant's internal control over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

#### Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.

------

#### Item 18. Recovery of Erroneously Awarded Compensation
Not applicable.

#### Item 19. Exhibits

---

| | |
|:---|:---|
| (a)(1) | Registrant's Code of Ethics – Not applicable (please see Item 2). |
| (a)(2)(i) | [Principal Financial Officer's Section 302 certification.](d93599dex99cert.htm#a) |
| (a)(2)(ii) | [Principal Executive Officer's Section 302 certification.](d93599dex99cert.htm#b) |
| (b) | [Combined Section 906 certification.](d93599dex99906cert.htm) |

---

------

#### Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | |
|:---|:---|
| <u>Global Macro Capital Opportunities Portfolio</u> | <u>Global Macro Capital Opportunities Portfolio</u> |
| By: | /s/ Kenneth A. Topping |
|  | Kenneth A. Topping |
|  | Principal Executive Officer |
| Date: | December 23, 2025 |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | |
|:---|:---|
| By: | /s/ James F. Kirchner |
|  | James F. Kirchner |
|  | Principal Financial Officer |
| Date: | December 23, 2025 |
| By: | /s/ Kenneth A. Topping |
|  | Kenneth A. Topping |
|  | Principal Executive Officer |
| Date: | December 23, 2025 |

---

## Ex-99.Cert

**Global Macro Capital Opportunities Portfolio** 

**FORM N-CSR** 

**Exhibit 19(a)(2)(i)** 

**<u>CERTIFICATION</u>**

I, James F. Kirchner, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Global Macro Capital
Opportunities Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: December 23, 2025 | /s/ James F. Kirchner |
|  | James F. Kirchner |
|  | Principal Financial Officer |

---

------

**Global Macro Capital Opportunities Portfolio** 

**FORM N-CSR** 

**Exhibit 19(a)(2)(ii)** 

**<u>CERTIFICATION</u>**

I, Kenneth A. Topping, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this report on Form N-CSR of Global Macro Capital
Opportunities Portfolio;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

---

| | |
|:---|:---|
| Date: December 23, 2025 | /s/ Kenneth A. Topping |
|  | Kenneth A. Topping |
|  | Principal Executive Officer |

---

## Exhibit 99.906

**Form N-CSR Item 19(b) Exhibit** 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned hereby certify in their capacity as Principal Financial Officer and Principal Executive Officer, respectively, of Global Macro Capital Opportunities Portfolio (the "**Portfolio**") that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Report of the **Portfolio** on Form N-CSR for the period ended
October 31, 2025 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the information contained in the Report fairly presents, in all material respects, the financial condition and
the results of operations of the **Portfolio** for such period.

**A signed original of this written statement required by section 906 has been provided to the Portfolio and will be retained by the Portfolio and furnished to the Securities and Exchange Commission or its staff upon request.** 

---

| |
|:---|
| Global Macro Capital Opportunities Portfolio |
| Date: December 23, 2025 |
| /s/ James F. Kirchner |
| James F. Kirchner |
| Principal Financial Officer |
| Date: December 23, 2025 |
| /s/ Kenneth A. Topping |
| Kenneth A. Topping |
| Principal Executive Officer |

---