# EDGAR Filing Document

**Accession Number:** 0000319676
**File Stem:** 0001752724-25-207475
**Filing Date:** 2025-8
**Character Count:** 33583
**Document Hash:** b3952e09066022ac373f6e6651ab02a1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-207475.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-207475

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**DATE AS OF CHANGE**: 20250827

**PERIOD START**: 20250930

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03101
- **FILM NUMBER:** 251261507

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

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

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

## Series and Classes Contracts Data

### Calvert Global Equity Fund (Series ID: S000080179)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000241877 | Calvert Global Equity Fund Class I |  |
| C000241878 | Calvert Global Equity Fund Class A |  |

## Nport-Ex

Calvert

Global Equity Fund

June 30, 2025

Schedule of Investments (Unaudited)

------

Common Stocks — 98.1%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Australia — 2.1% | Australia — 2.1% |  |
| CSL Ltd. | 1332 | $210404 |
|  |  | **$210404** |
| Belgium — 1.6% | Belgium — 1.6% |  |
| KBC Group NV | 1600 | $165135 |
|  |  | **$165135** |
| Denmark — 1.8% | Denmark — 1.8% |  |
| Novo Nordisk AS, Class B | 2637 | $182728 |
|  |  | **$182728** |
| France — 7.3% | France — 7.3% |  |
| L'Oreal Prime De Fidelite<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;444 | &nbsp;&nbsp;&nbsp;&nbsp;$190189 |
| L'Oreal SA | &nbsp;&nbsp;&nbsp;&nbsp;29 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12422 |
| LVMH Moet Hennessy Louis Vuitton SE | &nbsp;&nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163295 |
| Safran SA | &nbsp;&nbsp;&nbsp;&nbsp;652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212633 |
| Schneider Electric SE | &nbsp;&nbsp;&nbsp;&nbsp;588 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;157869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$736408** |
| Germany — 1.9% | Germany — 1.9% |  |
| Siemens AG | &nbsp;&nbsp;&nbsp;&nbsp;769 | &nbsp;&nbsp;&nbsp;&nbsp;$197524 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$197524** |
| Hong Kong — 2.7% | Hong Kong — 2.7% |  |
| AIA Group Ltd. | 29766 | &nbsp;&nbsp;&nbsp;&nbsp;$269634 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$269634** |
| India — 2.0% | India — 2.0% |  |
| HDFC Bank Ltd. ADR | 2704 | &nbsp;&nbsp;&nbsp;&nbsp;$207316 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$207316** |
| Japan — 1.8% | Japan — 1.8% |  |
| Keyence Corp. | &nbsp;&nbsp;&nbsp;&nbsp;447 | &nbsp;&nbsp;&nbsp;&nbsp;$178723 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$178723** |
| Netherlands — 4.7% | Netherlands — 4.7% |  |
| ASML Holding NV | &nbsp;&nbsp;&nbsp;&nbsp;356 | &nbsp;&nbsp;&nbsp;&nbsp;$285276 |
| IMCD NV<sup>(2)</sup> | 1419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;190849 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$476125** |
| Singapore — 2.0% | Singapore — 2.0% |  |
| DBS Group Holdings Ltd. | 5765 | &nbsp;&nbsp;&nbsp;&nbsp;$203516 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$203516** |
| Switzerland — 3.8% | Switzerland — 3.8% |  |
| Nestle SA | 2461 | &nbsp;&nbsp;&nbsp;&nbsp;$244688 |
| Sika AG | &nbsp;&nbsp;&nbsp;&nbsp;504 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;137130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$381818** |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Taiwan — 1.7% | Taiwan — 1.7% |  |
| Taiwan Semiconductor Manufacturing Co. Ltd. ADR | &nbsp;&nbsp;772 | $174850 |
|  |  | **$174850** |
| United Kingdom — 6.3% | United Kingdom — 6.3% |  |
| Compass Group PLC | 6451 | $218508 |
| London Stock Exchange Group PLC | 1286 | &nbsp;&nbsp; 188074 |
| Reckitt Benckiser Group PLC | 3471 | &nbsp;&nbsp; 236469 |
|  |  | **$643051** |
| United States — 58.4% | United States — 58.4% |  |
| Adobe, Inc.<sup>(1)</sup> | &nbsp;&nbsp;457 | &nbsp;&nbsp;&nbsp;&nbsp;$176804 |
| Alphabet, Inc., Class A | 2666 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;469829 |
| Amazon.com, Inc.<sup>(1)</sup> | 2363 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518419 |
| American International Group, Inc. | 2210 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;189154 |
| AMETEK, Inc. | 1176 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;212809 |
| Boston Scientific Corp.<sup>(1)</sup> | 1640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176152 |
| Carrier Global Corp. | 2195 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;160652 |
| Charles Schwab Corp. | 2414 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;220253 |
| Danaher Corp. | 1170 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;231122 |
| Ingersoll Rand, Inc. | 1964 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;163366 |
| Intuit, Inc. | &nbsp;&nbsp;202 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159101 |
| Intuitive Surgical, Inc.<sup>(1)</sup> | &nbsp;&nbsp;335 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182042 |
| JPMorgan Chase & Co. | &nbsp;&nbsp;973 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;282082 |
| Marriott International, Inc., Class A | &nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229496 |
| Micron Technology, Inc. | 1371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168976 |
| Microsoft Corp. | 1384 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;688416 |
| NextEra Energy, Inc. | 2850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197847 |
| NVIDIA Corp. | 3316 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;523895 |
| TJX Cos., Inc. | 1211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149546 |
| Visa, Inc., Class A | &nbsp;&nbsp;770 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273389 |
| Walt Disney Co. | 2351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291548 |
| Zoetis, Inc. | 1737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270885 |
|  |  | **$5935783** |
| Total Common Stocks<br> (identified cost $6,747,705) |  | **$9963015** |

---

Short-Term Investments — 2.1%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.23%<sup>(3)</sup> | 214738 | $214738 |
| Total Short-Term Investments<br> (identified cost $214,738) |  | **$214738** |

---

---

| | |
|:---|:---|
| Total Investments — 100.2%<br> (identified cost $6,962,443) | **$10177753** |
| Other Assets, Less Liabilities — (0.2)% | **$(18914)** |
| Net Assets — 100.0% | **$10158839** |

---

------

Calvert

Global Equity Fund

June 30, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Schedule of Investments is based on net assets. | The percentage shown for each investment category in the Schedule of Investments is based on net assets. |
| <sup>(1)</sup> | Non-income producing security. |
| <sup>(2)</sup> | All or a portion of this security was on loan at June 30, 2025. The aggregate market value of securities on loan at June 30, 2025 was $186,949 and the total market value of the collateral received by the Fund was $198,433, comprised of U.S. government and/or agencies securities. |
| <sup>(3)</sup> | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of June 30, 2025. |

---

At June 30, 2025, the concentration of the Fund's investments in the various sectors, determined as a percentage of net assets, was as follows:

---

| | |
|:---|:---|
| **Economic Sectors** | &nbsp;&nbsp;**% of Net Assets** |
| Information Technology | &nbsp;&nbsp;&nbsp;23.2% |
| Financials | &nbsp;&nbsp;&nbsp;19.7 |
| Industrials | &nbsp;&nbsp;&nbsp;12.8 |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;12.6 |
| Health Care | &nbsp;&nbsp;&nbsp;12.3 |
| Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;7.5 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;6.7 |
| Utilities | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| Materials | &nbsp;&nbsp;&nbsp;&nbsp;1.4 |
| **Total** | &nbsp;&nbsp;**98.1%** |

---

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| ADR | – American Depositary Receipt |

---

The Fund did not have any open derivative instruments at June 30, 2025.

Affiliated Investments

At June 30, 2025, the value of the Fund's investment in funds that may be deemed to be affiliated was $214,738, which represents 2.1% of the Fund's net assets. Transactions in such investments by the Fund for the fiscal year to date ended June 30, 2025 were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Name** | **Value,<br> beginning<br> of period** | **Purchases** | **Sales<br> proceeds** | **Net<br> realized<br> gain<br> (loss)** | **Change in<br> unrealized<br> appreciation<br> (depreciation)** | **Value,<br> end of<br> period** | **Dividend<br> income** | **Shares,<br> end of<br> period** |
| **Short-Term Investments** | **Short-Term Investments** | **Short-Term Investments** |  |  |  |  |  |  |
| Liquidity Fund, Institutional Class<sup>(1)</sup> | $278651 | $1656632 | $(1720545) | $— | $— | $214738 | $4137 | 214738 |

---

<sup>(1)</sup> Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio.

Fair Value Measurements

U.S. generally accepted accounting principles (U.S. GAAP) establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

Level 1 - quoted prices in active markets for identical securities

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

Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

------

Calvert

Global Equity Fund

June 30, 2025

Schedule of Investments (Unaudited) — continued

------

The following table summarizes the market value of the Fund's holdings as of June 30, 2025, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;**Total** |
| Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Australia | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;$210404 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$210404 |
| &nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165135 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;165135 |
| &nbsp;&nbsp;&nbsp;Denmark | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182728 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;182728 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736408 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;736408 |
| &nbsp;&nbsp;&nbsp;Germany | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197524 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;197524 |
| &nbsp;&nbsp;&nbsp;Hong Kong | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269634 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269634 |
| &nbsp;&nbsp;&nbsp;India | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207316 | &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;207316 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178723 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178723 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476125 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;476125 |
| &nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203516 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;203516 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381818 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;381818 |
| &nbsp;&nbsp;&nbsp;Taiwan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174850 | &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;174850 |
| &nbsp;&nbsp;&nbsp;United Kingdom | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643051 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;643051 |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;5935783 | &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;5935783 |
| **Total Common Stocks** | &nbsp;&nbsp;**$6317949** | &nbsp;&nbsp;**$3645066<sup>(1)</sup>** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$9963015** |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;$214738 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$214738 |
| **Total Investments** | &nbsp;&nbsp;**$6532687** | &nbsp;&nbsp;**$3645066** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$10177753** |

---

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

For information on the Fund's policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Washington

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20036

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

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

- **a. Name of Series:** Calvert Global Equity Fund

- **b. EDGAR series identifier (if any):** S000080179

- **c. LEI of Series:** 549300085JNXPCJMDL42

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $10210497.06

**Total Liabilities:** $51768.27

**Net Assets:** $10158728.79

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241878 | 0.44%                | 7.98%                | 3.50%                |
| Class ID C000241877 | 0.44%                | 8.00%                | 3.50%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $57673.34                | $-37728.56                                 |
| Month 2  | $-147.15                 | $701884.92                                 |
| Month 3  | $108855.51               | $236303.87                                 |

### Schedule of Portfolio Investments

| Name                                      | Title                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| LVMH Moet Hennessy Louis Vuitton SE       | LVMH Moet Hennessy Louis Vuitton SE                                 | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |       312 | NS      | $163294.60    | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Intuit Inc                                | Intuit Inc                                                          | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |       202 | NS      | $159101.26    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                | L'Oreal SA                                                          | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |        29 | NS      | $12422.26     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| AMETEK Inc                                | AMETEK Inc                                                          | CUSIP: 031100100<br>LEI: 549300WZDEF9KKE40E98 | Long             | EC               | CORP              | US        |      1176 | NS      | $212808.96    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KBC Group NV                              | KBC Group NV                                                        | CUSIP: 000000000<br>LEI: 213800X3Q9LSAKRUWY91 | Long             | EC               | CORP              | BE        |      1600 | NS      | $165135.35    | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NV                           | ASML Holding NV                                                     | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       356 | NS      | $285275.96    | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| NextEra Energy Inc                        | NextEra Energy Inc                                                  | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |      2850 | NS      | $197847.00    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc                     | Micron Technology Inc                                               | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |      1371 | NS      | $168975.75    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd                    | DBS Group Holdings Ltd                                              | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |      5765 | NS      | $203516.32    | 2.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Marriott International Inc/MD             | Marriott International Inc/MD                                       | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |       840 | NS      | $229496.40    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Reckitt Benckiser Group PLC               | Reckitt Benckiser Group PLC                                         | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |      3471 | NS      | $236468.63    | 2.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Alphabet Inc                              | Alphabet Inc                                                        | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      2666 | NS      | $469829.18    | 4.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                                  | Visa Inc                                                            | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       770 | NS      | $273388.50    | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc                                | Zoetis Inc                                                          | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |      1737 | NS      | $270885.15    | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corp                    | Boston Scientific Corp                                              | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |      1640 | NS      | $176152.40    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk A/S                          | Novo Nordisk A/S                                                    | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |      2637 | NS      | $182728.30    | 1.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Microsoft Corp                            | Microsoft Corp                                                      | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      1384 | NS      | $688415.44    | 6.78%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp                               | NVIDIA Corp                                                         | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      3316 | NS      | $523894.84    | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                                 | Adobe Inc                                                           | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |       457 | NS      | $176804.16    | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                        | Walt Disney Co/The                                                  | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      2351 | NS      | $291547.51    | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                         | Compass Group PLC                                                   | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |      6451 | NS      | $218508.08    | 2.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Nestle SA                                 | Nestle SA                                                           | CUSIP: 000000000<br>LEI: KY37LUS27QQX7BB93L28 | Long             | EC               | CORP              | CH        |      2461 | NS      | $244688.22    | 2.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Keyence Corp                              | Keyence Corp                                                        | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |       447 | NS      | $178723.12    | 1.76%             |  |  |  | No            |                  2 | On Loan: No      |
| London Stock Exchange Group PLC           | London Stock Exchange Group PLC                                     | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |      1286 | NS      | $188073.80    | 1.85%             |  |  |  | No            |                  2 | On Loan: No      |
| TJX Cos Inc/The                           | TJX Cos Inc/The                                                     | CUSIP: 872540109<br>LEI: V167QI9I69W364E2DY52 | Long             | EC               | CORP              | US        |      1211 | NS      | $149546.39    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc                    | Intuitive Surgical Inc                                              | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |       335 | NS      | $182042.35    | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Sika AG                                   | Sika AG                                                             | CUSIP: 000000000<br>LEI: 549300R3N69ECGYPU434 | Long             | EC               | CORP              | CH        |       504 | NS      | $137130.22    | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| IMCD NV                                   | IMCD NV                                                             | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | EC               | CORP              | NL        |      1419 | NS      | $190848.88    | 1.88%             |  |  |  | No            |                  2 | On Loan: —       |
| CSL Ltd                                   | CSL Ltd                                                             | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |      1332 | NS      | $210403.47    | 2.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Charles Schwab Corp/The                   | Charles Schwab Corp/The                                             | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      2414 | NS      | $220253.36    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley & Co. LLC                  | Morgan Stanley Institutional Liquidity Funds - Government Portfolio | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    214738 | NS      | $214738.39    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp                       | Carrier Global Corp                                                 | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      2195 | NS      | $160652.05    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                        | Ingersoll Rand Inc                                                  | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |      1964 | NS      | $163365.52    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                | Siemens AG                                                          | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |       769 | NS      | $197524.07    | 1.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Danaher Corp                              | Danaher Corp                                                        | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      1170 | NS      | $231121.80    | 2.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd                           | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |       772 | NS      | $174850.28    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                             | AIA Group Ltd                                                       | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |     29766 | NS      | $269633.50    | 2.65%             |  |  |  | No            |                  2 | On Loan: No      |
| L OREAL PRIME DE FIDELITE 2027            | L OREAL PRIME DE FIDELITE 2027                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | FR        |       444 | NS      | $190189.06    | 1.87%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                                 | Safran SA                                                           | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |       652 | NS      | $212633.06    | 2.09%             |  |  |  | No            |                  2 | On Loan: No      |
| HDFC Bank Ltd                             | HDFC Bank Ltd                                                       | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      2704 | NS      | $207315.68    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                       | JPMorgan Chase & Co                                                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |       973 | NS      | $282082.43    | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                            | Amazon.com Inc                                                      | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      2363 | NS      | $518418.57    | 5.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                     | Schneider Electric SE                                               | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |       588 | NS      | $157869.15    | 1.55%             |  |  |  | No            |                  2 | On Loan: No      |
| American International Group Inc          | American International Group Inc                                    | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |      2210 | NS      | $189153.90    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-25

**Name of Applicant:** Calvert Management Series

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer