# EDGAR Filing Document

**Accession Number:** 0000319676
**File Stem:** 0001752724-25-207501
**Filing Date:** 2025-8
**Character Count:** 75668
**Document Hash:** 43ce540b4d01dbd5e3538e2820a156eb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-207501.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001752724-25-207501

**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:** 251261534

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

Calvert

Global Small-Cap Equity Fund

June 30, 2025

Schedule of Investments (Unaudited)

------

Common Stocks — 98.2%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Australia — 2.5% | Australia — 2.5% |  |
| BlueScope Steel Ltd. | 3433 | $52314 |
| CAR Group Ltd. | 8354 | &nbsp;&nbsp; 205736 |
| Data#3 Ltd. | 24438 | &nbsp;&nbsp; 122402 |
| IGO Ltd. | 9503 | &nbsp;&nbsp; 26181 |
| Steadfast Group Ltd. | 37422 | &nbsp;&nbsp; 148216 |
|  |  | **$554849** |
| Belgium — 0.6% | Belgium — 0.6% |  |
| KBC Ancora | 1973 | $135823 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$135823** |
| Bermuda — 0.7% | Bermuda — 0.7% |  |
| Hamilton Insurance Group Ltd., Class B<sup>(1)</sup> | 6691 | &nbsp;&nbsp;&nbsp;&nbsp;$144659 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$144659** |
| Canada — 2.7% | Canada — 2.7% |  |
| Agnico Eagle Mines Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;961 | &nbsp;&nbsp;&nbsp;&nbsp;$114494 |
| Allied Properties Real Estate Investment Trust | 9227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116273 |
| Descartes Systems Group, Inc.<sup>(1)</sup> | 1320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134089 |
| Killam Apartment Real Estate Investment Trust | 8661 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;124724 |
| Lumine Group, Inc.<sup>(1)(2)</sup> | 2548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;89496 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$579076** |
| France — 1.3% | France — 1.3% |  |
| IPSOS SA | 5146 | &nbsp;&nbsp;&nbsp;&nbsp;$276408 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$276408** |
| Germany — 1.2% | Germany — 1.2% |  |
| Jenoptik AG | 6821 | &nbsp;&nbsp;&nbsp;&nbsp;$157452 |
| Schott Pharma AG & Co. KGaA | 3467 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;116202 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$273654** |
| Italy — 3.0% | Italy — 3.0% |  |
| Amplifon SpA<sup>(3)</sup> | 10606 | &nbsp;&nbsp;&nbsp;&nbsp;$249091 |
| BFF Bank SpA<sup>(1)(4)</sup> | 11057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;121393 |
| Moncler SpA | 2080 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118646 |
| Reply SpA | 1004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173511 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$662641** |
| Japan — 11.3% | Japan — 11.3% |  |
| Allegro MicroSystems, Inc.<sup>(1)</sup> | 4129 | &nbsp;&nbsp;&nbsp;&nbsp;$141170 |
| As One Corp. | 7395 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127611 |
| Asahi Intecc Co. Ltd. | 5807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91867 |
| BayCurrent, Inc. | 2855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;146874 |
| Chiba Bank Ltd. | 11978 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110697 |
| Cosmos Pharmaceutical Corp. | 2944 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186840 |
| Goldwin, Inc. | 3475 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;195415 |
| Hikari Tsushin, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;379 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111906 |
| Hoshino Resorts REIT, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;123 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205861 |
| Japan Exchange Group, Inc. | 9955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100844 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| Japan (continued) | Japan (continued) |  |
| JMDC, Inc. | &nbsp;&nbsp;&nbsp;4520 | $124612 |
| Kotobuki Spirits Co. Ltd. | 11413 | &nbsp;&nbsp; 162795 |
| Relo Group, Inc. | 18148 | &nbsp;&nbsp; 215380 |
| Riken Keiki Co. Ltd.<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;9350 | &nbsp;&nbsp; 195664 |
| Sanwa Holdings Corp. | &nbsp;&nbsp;&nbsp;5246 | &nbsp;&nbsp; 173987 |
| USS Co. Ltd. | 14948 | &nbsp;&nbsp; 164741 |
|  |  | **$2456264** |
| Luxembourg — 0.0%<sup>†</sup> | Luxembourg — 0.0%<sup>†</sup> |  |
| APERAM SA | &nbsp;&nbsp;&nbsp;&nbsp;302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$9780 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$9780** |
| Netherlands — 2.8% | Netherlands — 2.8% |  |
| BE Semiconductor Industries NV<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;486 | &nbsp;&nbsp;&nbsp;&nbsp;$72683 |
| Euronext NV<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;1307 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223944 |
| IMCD NV<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;1527 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;205374 |
| Topicus.com, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99729 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$601730** |
| Singapore — 0.4% | Singapore — 0.4% |  |
| Daiwa House Logistics Trust | 186213 | &nbsp;&nbsp;&nbsp;&nbsp;$82765 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$82765** |
| Sweden — 1.4% | Sweden — 1.4% |  |
| AddTech AB, Class B | &nbsp;&nbsp;&nbsp;4966 | &nbsp;&nbsp;&nbsp;&nbsp;$169299 |
| Boliden AB<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;499 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15593 |
| Thule Group AB<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;3989 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;114898 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$299790** |
| Switzerland — 0.8% | Switzerland — 0.8% |  |
| Straumann Holding AG | &nbsp;&nbsp;&nbsp;1323 | &nbsp;&nbsp;&nbsp;&nbsp;$173167 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;**$173167** |
| United Kingdom — 12.1% | United Kingdom — 12.1% |  |
| Babcock International Group PLC | 18501 | &nbsp;&nbsp;&nbsp;&nbsp;$291389 |
| Cerillion PLC<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;9111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194510 |
| Cranswick PLC | &nbsp;&nbsp;&nbsp;1929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141690 |
| Diploma PLC | &nbsp;&nbsp;&nbsp;4132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;277381 |
| DiscoverIE Group PLC | 29597 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;265177 |
| Games Workshop Group PLC | &nbsp;&nbsp;&nbsp;&nbsp;621 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138224 |
| Greggs PLC | &nbsp;&nbsp;&nbsp;7137 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188196 |
| Hilton Food Group PLC | &nbsp;&nbsp;&nbsp;9940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118203 |
| JTC PLC<sup>(4)</sup> | 26571 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311257 |
| Supermarket Income REIT PLC | 204539 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;238824 |
| Volution Group PLC | 28321 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;229799 |
| Wise PLC, Class A<sup>(1)</sup> | 10886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155511 |
| Zegona Communications PLC<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;9598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92498 |
|  |  | **$2642659** |
| United States — 57.4% | United States — 57.4% |  |
| A.O. Smith Corp. | &nbsp;&nbsp;&nbsp;3738 | &nbsp;&nbsp;&nbsp;&nbsp;$245101 |
| AAON, Inc. | &nbsp;&nbsp;&nbsp;2114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;155908 |

---

------

Calvert

Global Small-Cap Equity Fund

June 30, 2025

Schedule of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| United States (continued) | United States (continued) |  |
| Addus HomeCare Corp.<sup>(1)</sup> | 1277 | $147098 |
| Advance Auto Parts, Inc. | 1123 | &nbsp;&nbsp; 52208 |
| Advanced Drainage Systems, Inc. | 1103 | &nbsp;&nbsp; 126691 |
| Albany International Corp., Class A | 2486 | &nbsp;&nbsp; 174343 |
| Alliant Energy Corp. | 1493 | &nbsp;&nbsp; 90282 |
| American Financial Group, Inc. | 1517 | &nbsp;&nbsp; 191461 |
| AptarGroup, Inc. | 2307 | &nbsp;&nbsp; 360884 |
| Aramark | 6910 | &nbsp;&nbsp; 289322 |
| Atmus Filtration Technologies, Inc. | 4814 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;175326 |
| AZZ, Inc. | 1479 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;139736 |
| Badger Meter, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;817 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200124 |
| Balchem Corp. | &nbsp;&nbsp;&nbsp;&nbsp;955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152036 |
| Burlington Stores, Inc.<sup>(1)</sup> | 1133 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;263581 |
| Caris Life Sciences, Inc.<sup>(1)</sup> | 2238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59799 |
| Casey's General Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;108 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55109 |
| CBIZ, Inc.<sup>(1)</sup> | 5261 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;377266 |
| CCC Intelligent Solutions Holdings, Inc.<sup>(1)</sup> | 20391 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;191879 |
| CDW Corp. | &nbsp;&nbsp;&nbsp;&nbsp;813 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;145194 |
| Certara, Inc.<sup>(1)</sup> | 5066 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59272 |
| Chemed Corp. | &nbsp;&nbsp;&nbsp;&nbsp;553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;269272 |
| Church & Dwight Co., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91977 |
| Clearwater Analytics Holdings, Inc., Class A<sup>(1)</sup> | 3951 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86645 |
| CMS Energy Corp. | 1378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;95468 |
| Commerce Bancshares, Inc. | 6370 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;396023 |
| Core & Main, Inc., Class A<sup>(1)</sup> | 6155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;371454 |
| Dayforce, Inc.<sup>(1)</sup> | 1923 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106515 |
| Diodes, Inc.<sup>(1)</sup> | 2262 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;119637 |
| Domino's Pizza, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;351 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158161 |
| Donaldson Co., Inc. | 2899 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201046 |
| Dorman Products, Inc.<sup>(1)</sup> | 2037 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249879 |
| EastGroup Properties, Inc. | 1343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;224442 |
| Equity LifeStyle Properties, Inc. | 4122 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;254204 |
| ESCO Technologies, Inc. | 1453 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278787 |
| Euronet Worldwide, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;896 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90837 |
| First American Financial Corp. | 2192 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134567 |
| First Financial Bankshares, Inc. | 7558 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;271937 |
| Franklin Electric Co., Inc. | 2485 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;223004 |
| Graco, Inc. | 2890 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;248453 |
| Group 1 Automotive, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;381 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;166387 |
| Hayward Holdings, Inc.<sup>(1)</sup> | 4985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68793 |
| Hexcel Corp. | 2704 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;152749 |
| John Wiley & Sons, Inc., Class A | 2070 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92384 |
| Kemper Corp. | 1860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120044 |
| Kinsale Capital Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;317 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;153396 |
| Landstar System, Inc. | 1061 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;147500 |
| LKQ Corp. | 3547 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;131275 |
| LPL Financial Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;255730 |
| Manhattan Associates, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;332 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65560 |
| Meritage Homes Corp. | &nbsp;&nbsp;&nbsp;&nbsp;891 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59670 |
| Middleby Corp.<sup>(1)</sup> | 1376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;198144 |
| nCino, Inc.<sup>(1)</sup> | 2690 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75239 |

---

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | **Value** |
| United States (continued) | United States (continued) |  |
| Neurocrine Biosciences, Inc.<sup>(1)</sup> | 1586 | $199344 |
| Nordson Corp. | &nbsp;&nbsp;666 | &nbsp;&nbsp; 142770 |
| Novanta, Inc.<sup>(1)</sup> | &nbsp;&nbsp;466 | &nbsp;&nbsp; 60081 |
| NVR, Inc.<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;19 | &nbsp;&nbsp; 140328 |
| ON Semiconductor Corp.<sup>(1)</sup> | 2175 | &nbsp;&nbsp; 113992 |
| Performance Food Group Co.<sup>(1)</sup> | 3139 | &nbsp;&nbsp; 274568 |
| Progress Software Corp. | &nbsp;&nbsp;507 | &nbsp;&nbsp; 32367 |
| Quaker Chemical Corp. | 1284 | &nbsp;&nbsp; 143731 |
| Rexford Industrial Realty, Inc. | 4015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142814 |
| Ryan Specialty Holdings, Inc. | 2413 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;164060 |
| Selective Insurance Group, Inc. | &nbsp;&nbsp;900 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77985 |
| SouthState Corp. | 2941 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;270660 |
| SPS Commerce, Inc.<sup>(1)</sup> | &nbsp;&nbsp;682 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92813 |
| Teradyne, Inc. | 1016 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;91359 |
| Tradeweb Markets, Inc., Class A | 1868 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273475 |
| Tyler Technologies, Inc.<sup>(1)</sup> | &nbsp;&nbsp;143 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;84776 |
| Universal Display Corp. | &nbsp;&nbsp;561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86652 |
| Valvoline, Inc.<sup>(1)</sup> | 7092 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;268574 |
| W.R. Berkley Corp. | 1668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;122548 |
| White Mountains Insurance Group Ltd. | &nbsp;&nbsp;131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;235239 |
| Wyndham Hotels & Resorts, Inc. | 3511 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;285128 |
|  |  | **$12515063** |
| Total Common Stocks<br> (identified cost $16,918,640) |  | **$21408328** |

---

Short-Term Investments — 2.3%

---

| | | |
|:---|:---|:---|
| **Security** | **Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Value** |
| Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 4.23%<sup>(5)</sup> | 514521 | $514521 |
| Total Short-Term Investments<br> (identified cost $514,521) |  | **$514521** |

---

---

| | |
|:---|:---|
| Total Investments — 100.5%<br> (identified cost $17,433,161) | **$21922849** |
| Other Assets, Less Liabilities — (0.5)% | **$(114522)** |
| Net Assets — 100.0% | **$21808327** |

---

---

| | |
|:---|:---|
| 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>†</sup> | Amount is less than 0.05% or (0.05)%, as applicable. |
| <sup>(1)</sup> | Non-income producing security. |

---

------

Calvert

Global Small-Cap Equity Fund

June 30, 2025

Schedule of Investments (Unaudited) — continued

------

<sup>(2)</sup> Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At June 30, 2025, the aggregate value of these securities is $89,496 or 0.4% of the Fund's net assets.

<sup>(3)</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 $775,144 and the total market value of the collateral received by the Fund was $814,842, comprised of U.S. government and/or agencies securities.

<sup>(4)</sup> Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At June 30, 2025, the aggregate value of these securities is $771,492 or 3.5% of the Fund's net assets.

<sup>(5)</sup> May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of 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** |
| Industrials | &nbsp;&nbsp;&nbsp;24.8% |
| Financials | &nbsp;&nbsp;&nbsp;19.3 |
| Consumer Discretionary | &nbsp;&nbsp;&nbsp;13.7 |
| Information Technology | &nbsp;&nbsp;&nbsp;13.0 |
| Health Care | &nbsp;&nbsp;&nbsp;&nbsp;7.4 |
| Real Estate | &nbsp;&nbsp;&nbsp;&nbsp;7.4 |
| Consumer Staples | &nbsp;&nbsp;&nbsp;&nbsp;4.7 |
| Materials | &nbsp;&nbsp;&nbsp;&nbsp;4.0 |
| Communication Services | &nbsp;&nbsp;&nbsp;&nbsp;3.1 |
| Utilities | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| **Total** | &nbsp;&nbsp;**98.2%** |

---

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 $514,521, which represents 2.3% 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> | $300524 | $4116160 | $(3902163) | $— | $— | $514521 | $5372 | 514521 |

---

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

------

Calvert

Global Small-Cap Equity Fund

June 30, 2025

Schedule of Investments (Unaudited) — continued

------

Fair Value Measurements

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

Level 1 - quoted prices in active markets for identical securities

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

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

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

The following table summarizes the market value of the Fund's holdings as of 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;&nbsp;&nbsp;$554849 | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$554849 |
| &nbsp;&nbsp;&nbsp;Belgium | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135823 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135823 |
| &nbsp;&nbsp;&nbsp;Bermuda | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;144659 | &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;144659 |
| &nbsp;&nbsp;&nbsp;Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;579076 | &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;579076 |
| &nbsp;&nbsp;&nbsp;France | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276408 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;276408 |
| &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;&nbsp;&nbsp;273654 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;273654 |
| &nbsp;&nbsp;&nbsp;Italy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662641 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;662641 |
| &nbsp;&nbsp;&nbsp;Japan | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141170 | &nbsp;&nbsp;&nbsp;&nbsp;2315094 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2456264 |
| &nbsp;&nbsp;&nbsp;Luxembourg | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9780 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9780 |
| &nbsp;&nbsp;&nbsp;Netherlands | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99729 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;502001 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;601730 |
| &nbsp;&nbsp;&nbsp;Singapore | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82765 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;82765 |
| &nbsp;&nbsp;&nbsp;Sweden | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299790 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;299790 |
| &nbsp;&nbsp;&nbsp;Switzerland | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173167 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;173167 |
| &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;2642659 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2642659 |
| &nbsp;&nbsp;&nbsp;United States | &nbsp;&nbsp;&nbsp;&nbsp;12515063 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;12515063 |
| **Total Common Stocks** | &nbsp;&nbsp;**$13479697** | &nbsp;&nbsp;**$7928631<sup>(1)</sup>** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$21408328** |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp;$514521 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$514521 |
| **Total Investments** | &nbsp;&nbsp;**$13994218** | &nbsp;&nbsp;**$7928631** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;**$21922849** |

---

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

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

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Washington

  - **State:** DC

  - **Foreign country:** US

  - **Zip / Postal Code:** 20036

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 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:** $21996394.09

**Total Liabilities:** $166794.72

**Net Assets:** $21829599.37

**Cash Not Reported:** $2504.49

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000241881 | -0.22%               | 5.00%                | 1.38%                |
| Class ID C000241879 | -0.21%               | 5.10%                | 1.46%                |
| Class ID C000241880 | -0.22%               | 5.06%                | 1.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $116987.04               | $-168716.39                                |
| Month 2  | $103727.73               | $915273.46                                 |
| Month 3  | $206703.61               | $90284.39                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Nordson Corp                                   | Nordson Corp                                                        | CUSIP: 655663102<br>LEI: 14OS6Q5N55N95WM84M53 | Long             | EC               | CORP              | US        |       666 | NS      | $142770.42    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Jenoptik AG                                    | Jenoptik AG                                                         | CUSIP: 000000000<br>LEI: 529900P34GDHGXK6VB37 | Long             | EC               | CORP              | DE        |      6821 | NS      | $157452.25    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Boliden AB                                     | Boliden AB                                                          | CUSIP: 000000000<br>LEI: 21380059QU7IM1ONDJ56 | Long             | EC               | CORP              | SE        |       499 | NS      | $15593.48     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| Meritage Homes Corp                            | Meritage Homes Corp                                                 | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |       891 | NS      | $59670.27     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Amplifon SpA                                   | Amplifon SpA                                                        | CUSIP: 000000000<br>LEI: ZYXJDNVM2JI3VBM8G556 | Long             | EC               | CORP              | IT        |     10606 | NS      | $249090.46    | 1.14%             |  |  |  | No            |                  2 | On Loan: —       |
| Daiwa House Logistics Trust                    | Daiwa House Logistics Trust                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               |  | SG        |    186213 | NS      | $82764.54     | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Core & Main Inc                                | Core & Main Inc                                                     | CUSIP: 21874C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6155 | NS      | $371454.25    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Greggs PLC                                     | Greggs PLC                                                          | CUSIP: 000000000<br>LEI: 213800I71QMUFJ64IW20 | Long             | EC               | CORP              | GB        |      7137 | NS      | $188196.04    | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Advanced Drainage Systems Inc                  | Advanced Drainage Systems Inc                                       | CUSIP: 00790R104<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | EC               | CORP              | US        |      1103 | NS      | $126690.58    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Hilton Food Group PLC                          | Hilton Food Group PLC                                               | CUSIP: 000000000<br>LEI: 213800JY7VJFS2OOX355 | Long             | EC               | CORP              | GB        |      9940 | NS      | $118203.01    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Valvoline Inc                                  | Valvoline Inc                                                       | CUSIP: 92047W101<br>LEI: 549300CMHPBEY6VPOT75 | Long             | EC               | CORP              | US        |      5761 | NS      | $218169.07    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| IGO Ltd                                        | IGO Ltd                                                             | CUSIP: 000000000<br>LEI: 2549005DZO8VGXM5QN07 | Long             | EC               | CORP              | AU        |      9503 | NS      | $26180.97     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Straumann Holding AG                           | Straumann Holding AG                                                | CUSIP: 000000000<br>LEI: 50670046ML5FVIM60Z37 | Long             | EC               | CORP              | CH        |      1323 | NS      | $173167.08    | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryan Specialty Holdings Inc                    | Ryan Specialty Holdings Inc                                         | CUSIP: 78351F107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2413 | NS      | $164059.87    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Tradeweb Markets Inc                           | Tradeweb Markets Inc                                                | CUSIP: 892672106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1868 | NS      | $273475.20    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanwa Holdings Corp                            | Sanwa Holdings Corp                                                 | CUSIP: 000000000<br>LEI: 5299003X6BCA4ROO5A70 | Long             | EC               | CORP              | JP        |      5246 | NS      | $173986.91    | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Steadfast Group Ltd                            | Steadfast Group Ltd                                                 | CUSIP: 000000000<br>LEI: 9845003B6BEAA12DBD91 | Long             | EC               | CORP              | AU        |     37422 | NS      | $148215.68    | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Donaldson Co Inc                               | Donaldson Co Inc                                                    | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      2899 | NS      | $201045.65    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                                   | Teradyne Inc                                                        | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      1016 | NS      | $91358.72     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmus Filtration Technologies Inc              | Atmus Filtration Technologies Inc                                   | CUSIP: 04956D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4814 | NS      | $175325.88    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| AddTech AB                                     | AddTech AB                                                          | CUSIP: 000000000<br>LEI: 549300QZ5U2IDRHPWL60 | Long             | EC               | CORP              | SE        |      4966 | NS      | $169298.65    | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Cerillion PLC                                  | Cerillion PLC                                                       | CUSIP: 000000000<br>LEI: 213800ISIZMUC3P46850 | Long             | EC               | CORP              | GB        |      9111 | NS      | $194510.07    | 0.89%             |  |  |  | No            |                  2 | On Loan: —       |
| Aramark                                        | Aramark                                                             | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |      6910 | NS      | $289321.70    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc                          | Burlington Stores Inc                                               | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |      1133 | NS      | $263581.12    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Financial Corp                  | First American Financial Corp                                       | CUSIP: 31847R102<br>LEI: 549300B6VEZK3N0A1P55 | Long             | EC               | CORP              | US        |      2192 | NS      | $134566.88    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Cosmos Pharmaceutical Corp                     | Cosmos Pharmaceutical Corp                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2944 | NS      | $186839.61    | 0.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Franklin Electric Co Inc                       | Franklin Electric Co Inc                                            | CUSIP: 353514102<br>LEI: RR6AURIKMXUE4Q24G284 | Long             | EC               | CORP              | US        |      2485 | NS      | $223003.90    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                                   | Balchem Corp                                                        | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |       955 | NS      | $152036.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey's General Stores Inc                     | Casey's General Stores Inc                                          | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |       108 | NS      | $55109.16     | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| As One Corp                                    | As One Corp                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      7395 | NS      | $127611.01    | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| USS Co Ltd                                     | USS Co Ltd                                                          | CUSIP: 000000000<br>LEI: 5299000RRQD6UZXG4W72 | Long             | EC               | CORP              | JP        |     14948 | NS      | $164740.83    | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Killam Apartment Real Estate Investment Trust  | Killam Apartment Real Estate Investment Trust                       | CUSIP: 49410M102<br>LEI: 2549001RZSL75H60JE41 | Long             | EC               |  | CA        |      8661 | NS      | $124723.49    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                       | Manhattan Associates Inc                                            | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |       332 | NS      | $65560.04     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Kemper Corp                                    | Kemper Corp                                                         | CUSIP: 488401100<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EC               | CORP              | US        |      1860 | NS      | $120044.40    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| nCino Inc                                      | nCino Inc                                                           | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |      2690 | NS      | $75239.30     | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Group 1 Automotive Inc                         | Group 1 Automotive Inc                                              | CUSIP: 398905109<br>LEI: 549300US8QAZJLWYAF63 | Long             | EC               | CORP              | US        |       381 | NS      | $166386.51    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc                 | First Financial Bankshares Inc                                      | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |      7558 | NS      | $271936.84    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Dorman Products Inc                            | Dorman Products Inc                                                 | CUSIP: 258278100<br>LEI: 2549000O0BBUX740XR59 | Long             | EC               | CORP              | US        |      2037 | NS      | $249878.79    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Hikari Tsushin Inc                             | Hikari Tsushin Inc                                                  | CUSIP: 000000000<br>LEI: 3538001SOIIV8U3OXH94 | Long             | EC               | CORP              | JP        |       379 | NS      | $111905.93    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| AZZ Inc                                        | AZZ Inc                                                             | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      1479 | NS      | $139735.92    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                    | CDW Corp/DE                                                         | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |       813 | NS      | $145193.67    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                         | Tyler Technologies Inc                                              | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |       143 | NS      | $84776.12     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corp                            | Addus HomeCare Corp                                                 | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      1277 | NS      | $147097.63    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| SouthState Corp                                | SouthState Corp                                                     | CUSIP: 840441109<br>LEI: 549300JZUANXM0YQ4W53 | Long             | EC               | CORP              | US        |      2941 | NS      | $270660.23    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                                 | A O Smith Corp                                                      | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      3738 | NS      | $245100.66    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumine Group Inc                               | Lumine Group Inc                                                    | CUSIP: 55027C106<br>LEI: 984500E3C44B9D44M738 | Long             | EC               | CORP              | CA        |      2548 | NS      | $89495.75     | 0.41%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Hamilton Insurance Group Ltd                   | Hamilton Insurance Group Ltd                                        | CUSIP: 000000000<br>LEI: 549300W92BN1FIEXG871 | Long             | EC               | CORP              | BM        |      6691 | NS      | $144659.42    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Allied Properties Real Estate Investment Trust | Allied Properties Real Estate Investment Trust                      | CUSIP: 019456102<br>LEI: 549300AMZMPKVHA0MY77 | Long             | EC               |  | CA        |      9227 | NS      | $116273.41    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldwin Inc                                    | Goldwin Inc                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      3475 | NS      | $195414.63    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| DiscoverIE Group PLC                           | DiscoverIE Group PLC                                                | CUSIP: 000000000<br>LEI: 213800BMDLQU1VEEAN68 | Long             | EC               | CORP              | GB        |     29597 | NS      | $265177.04    | 1.21%             |  |  |  | No            |                  2 | On Loan: No      |
| Dayforce Inc                                   | Dayforce Inc                                                        | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Long             | EC               | CORP              | US        |      1923 | NS      | $106514.97    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                               | W R Berkley Corp                                                    | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |      1668 | NS      | $122547.96    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| John Wiley & Sons Inc                          | John Wiley & Sons Inc                                               | CUSIP: 968223206<br>LEI: 5493003XM719UN7E8P64 | Long             | EC               | CORP              | US        |      2070 | NS      | $92384.10     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Schott Pharma AG & Co KGaA                     | Schott Pharma AG & Co KGaA                                          | CUSIP: 000000000<br>LEI: 529900TU48UE99NHEY88 | Long             | EC               | CORP              | DE        |      3467 | NS      | $116201.99    | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Reply SpA                                      | Reply SpA                                                           | CUSIP: 000000000<br>LEI: 815600DAEFB0388F3521 | Long             | EC               | CORP              | IT        |      1004 | NS      | $173511.29    | 0.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Universal Display Corp                         | Universal Display Corp                                              | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       561 | NS      | $86652.06     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| JMDC Inc                                       | JMDC Inc                                                            | CUSIP: 000000000<br>LEI: 3538002M2SQV6WJ6MQ67 | Long             | EC               | CORP              | JP        |      4520 | NS      | $124612.32    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS Energy Corp                                | CMS Energy Corp                                                     | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |      1378 | NS      | $95467.84     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd                         | Agnico Eagle Mines Ltd                                              | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |       961 | NS      | $114494.32    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Selective Insurance Group Inc                  | Selective Insurance Group Inc                                       | CUSIP: 816300107<br>LEI: 549300R3WGJWLE40R258 | Long             | EC               | CORP              | US        |       900 | NS      | $77985.00     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| BE Semiconductor Industries NV                 | BE Semiconductor Industries NV                                      | CUSIP: 000000000<br>LEI: 7245007A1YFLI2GNYX06 | Long             | EC               | CORP              | NL        |       486 | NS      | $72682.96     | 0.33%             |  |  |  | No            |                  2 | On Loan: —       |
| American Financial Group Inc/OH                | American Financial Group Inc/OH                                     | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |      1517 | NS      | $191460.57    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Data#3 Ltd                                     | Data#3 Ltd                                                          | CUSIP: 000000000<br>LEI: 529900WW6OYX86LFDA80 | Long             | EC               | CORP              | AU        |     24438 | NS      | $122402.20    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Games Workshop Group PLC                       | Games Workshop Group PLC                                            | CUSIP: 000000000<br>LEI: 213800RP9QJQYGWHNT41 | Long             | EC               | CORP              | GB        |       621 | NS      | $138223.90    | 0.63%             |  |  |  | No            |                  2 | On Loan: No      |
| ESCO Technologies Inc                          | ESCO Technologies Inc                                               | CUSIP: 296315104<br>LEI: 5493007JJLP5MEWVDH10 | Long             | EC               | CORP              | US        |      1453 | NS      | $278787.11    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                                     | Diodes Inc                                                          | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |      2262 | NS      | $119637.18    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc                               | Badger Meter Inc                                                    | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |       817 | NS      | $200124.15    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueScope Steel Ltd                            | BlueScope Steel Ltd                                                 | CUSIP: 000000000<br>LEI: 529900H6UQI16XACWC95 | Long             | EC               | CORP              | AU        |      3433 | NS      | $52313.90     | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Caris Life Sciences Inc                        | Caris Life Sciences Inc                                             | CUSIP: 142152107<br>LEI: 549300LX5LO78M5VPY43 | Long             | EC               | CORP              | US        |      2238 | NS      | $59799.36     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CAR Group Ltd                                  | CAR Group Ltd                                                       | CUSIP: 000000000<br>LEI: 5299009TFWZGH2AN7D11 | Long             | EC               | CORP              | AU        |      8354 | NS      | $205736.18    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| IPSOS SA                                       | IPSOS SA                                                            | CUSIP: 000000000<br>LEI: 9695002OY2X35E9X8W87 | Long             | EC               | CORP              | FR        |      5146 | NS      | $276407.96    | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Volution Group PLC                             | Volution Group PLC                                                  | CUSIP: 000000000<br>LEI: 213800EPT84EQCDHO768 | Long             | EC               | CORP              | GB        |     28321 | NS      | $229799.28    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Alliant Energy Corp                            | Alliant Energy Corp                                                 | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      1493 | NS      | $90281.71     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Zegona Communications plc                      | Zegona Communications plc                                           | CUSIP: 000000000<br>LEI: 213800ASI1VZL2ED4S65 | Long             | EC               | CORP              | GB        |      9598 | NS      | $92497.62     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| IMCD NV                                        | IMCD NV                                                             | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | EC               | CORP              | NL        |      1527 | NS      | $205374.38    | 0.94%             |  |  |  | No            |                  2 | On Loan: —       |
| Descartes Systems Group Inc/The                | Descartes Systems Group Inc/The                                     | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | CA        |      1320 | NS      | $134088.93    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc                       | Japan Exchange Group Inc                                            | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |      9955 | NS      | $100844.36    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| APERAM SA                                      | APERAM SA                                                           | CUSIP: 000000000<br>LEI: 5493001136GE6L4R7M63 | Long             | EC               | CORP              | LU        |       302 | NS      | $9780.19      | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Wise PLC                                       | Wise PLC                                                            | CUSIP: 000000000<br>LEI: 213800LD9XCHIC1C4V71 | Long             | EC               | CORP              | GB        |     10886 | NS      | $155510.63    | 0.71%             |  |  |  | No            |                  2 | On Loan: No      |
| AptarGroup Inc                                 | AptarGroup Inc                                                      | CUSIP: 038336103<br>LEI: VNPEQDQFAA7IY1T2PX43 | Long             | EC               | CORP              | US        |      2307 | NS      | $360884.01    | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Topicus.com Inc                                | Topicus.com Inc                                                     | CUSIP: 89072T102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       796 | NS      | $99728.70     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoshino Resorts REIT Inc                       | Hoshino Resorts REIT Inc                                            | CUSIP: 000000000<br>LEI: 353800DF2MUZWFL4IL56 | Long             | EC               |  | JP        |       123 | NS      | $205860.61    | 0.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Riken Keiki Co Ltd                             | Riken Keiki Co Ltd                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      9350 | NS      | $195664.12    | 0.90%             |  |  |  | No            |                  2 | On Loan: —       |
| Babcock International Group PLC                | Babcock International Group PLC                                     | CUSIP: 000000000<br>LEI: 213800TSKOLX4EU6L377 | Long             | EC               | CORP              | GB        |     18501 | NS      | $291389.25    | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Albany International Corp                      | Albany International Corp                                           | CUSIP: 012348108<br>LEI: L73WCPNCZIRSQGZTW097 | Long             | EC               | CORP              | US        |      2486 | NS      | $174343.18    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Domino's Pizza Inc                             | Domino's Pizza Inc                                                  | CUSIP: 25754A201<br>LEI: 25490005ZWM1IF9UXU57 | Long             | EC               | CORP              | US        |       351 | NS      | $158160.60    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corp                         | Progress Software Corp                                              | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |       507 | NS      | $32366.88     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Asahi Intecc Co Ltd                            | Asahi Intecc Co Ltd                                                 | CUSIP: 000000000<br>LEI: 353800J3AV2SCNIO8L39 | Long             | EC               | CORP              | JP        |      5807 | NS      | $91866.82     | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Middleby Corp/The                              | Middleby Corp/The                                                   | CUSIP: 596278101<br>LEI: JDFO86U9VQRBKW5KYA35 | Long             | EC               | CORP              | US        |      1376 | NS      | $198144.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Hayward Holdings Inc                           | Hayward Holdings Inc                                                | CUSIP: 421298100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4985 | NS      | $68793.00     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Chemed Corp                                    | Chemed Corp                                                         | CUSIP: 16359R103<br>LEI: 54930020031IDJT2IM79 | Long             | EC               | CORP              | US        |       553 | NS      | $269272.29    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CCC Intelligent Solutions Holdings Inc         | CCC Intelligent Solutions Holdings Inc                              | CUSIP: 12510Q100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     20391 | NS      | $191879.31    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Diploma PLC                                    | Diploma PLC                                                         | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |      4132 | NS      | $277380.63    | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. LLC                       | Morgan Stanley Institutional Liquidity Funds - Government Portfolio | CUSIP: 61747C707<br>LEI: 549300BI6Y5SI6BYPB26 | Long             | STIV             | RF                | US        |    514521 | NS      | $514521.02    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Moncler SpA                                    | Moncler SpA                                                         | CUSIP: 000000000<br>LEI: 815600EBD7FB00525B20 | Long             | EC               | CORP              | IT        |      2080 | NS      | $118646.32    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Landstar System Inc                            | Landstar System Inc                                                 | CUSIP: 515098101<br>LEI: 254900CUQXQRL09MEI52 | Long             | EC               | CORP              | US        |      1061 | NS      | $147500.22    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc                       | Allegro MicroSystems Inc                                            | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4129 | NS      | $141170.51    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Novanta Inc                                    | Novanta Inc                                                         | CUSIP: 67000B104<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       466 | NS      | $60081.38     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronext NV                                    | Euronext NV                                                         | CUSIP: 000000000<br>LEI: 724500QJ4QSZ3H9QU415 | Long             | EC               | CORP              | NL        |      1307 | NS      | $223943.94    | 1.03%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Advance Auto Parts Inc                         | Advance Auto Parts Inc                                              | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |      1123 | NS      | $52208.27     | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc                     | LPL Financial Holdings Inc                                          | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |       682 | NS      | $255729.54    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Cranswick PLC                                  | Cranswick PLC                                                       | CUSIP: 000000000<br>LEI: 549300LDZLPU51XOSK43 | Long             | EC               | CORP              | GB        |      1929 | NS      | $141690.53    | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| LKQ Corp                                       | LKQ Corp                                                            | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |      3547 | NS      | $131274.47    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide Inc                          | Euronet Worldwide Inc                                               | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |       896 | NS      | $90836.48     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Chiba Bank Ltd/The                             | Chiba Bank Ltd/The                                                  | CUSIP: 000000000<br>LEI: FGJPAKKCTZVSKZXNBS63 | Long             | EC               | CORP              | JP        |     11978 | NS      | $110697.34    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Clearwater Analytics Holdings Inc              | Clearwater Analytics Holdings Inc                                   | CUSIP: 185123106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3951 | NS      | $86645.43     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| BFF Bank SpA                                   | BFF Bank SpA                                                        | CUSIP: 000000000<br>LEI: 815600522538355AE429 | Long             | EC               | CORP              | IT        |     11057 | NS      | $121393.39    | 0.56%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Quaker Chemical Corp                           | Quaker Chemical Corp                                                | CUSIP: 747316107<br>LEI: 549300PJQ1R3WCWCPS54 | Long             | EC               | CORP              | US        |      1284 | NS      | $143730.96    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| CBIZ Inc                                       | CBIZ Inc                                                            | CUSIP: 124805102<br>LEI: 529900D5X8CFM8O1N813 | Long             | EC               | CORP              | US        |      5261 | NS      | $377266.31    | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                     | Neurocrine Biosciences Inc                                          | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      1586 | NS      | $199344.34    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp                          | ON Semiconductor Corp                                               | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      2175 | NS      | $113991.75    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Kotobuki Spirits Co Ltd                        | Kotobuki Spirits Co Ltd                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     11413 | NS      | $162794.65    | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| White Mountains Insurance Group Ltd            | White Mountains Insurance Group Ltd                                 | CUSIP: 000000000<br>LEI: 549300N3FL068JERBG02 | Long             | EC               | CORP              | BM        |       131 | NS      | $235239.32    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                      | Kinsale Capital Group Inc                                           | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |       317 | NS      | $153396.30    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| NVR Inc                                        | NVR Inc                                                             | CUSIP: 62944T105<br>LEI: 529900RWXR4JI3JYTV70 | Long             | EC               | CORP              | US        |        19 | NS      | $140327.54    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc                         | Church & Dwight Co Inc                                              | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |       957 | NS      | $91977.27     | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Certara Inc                                    | Certara Inc                                                         | CUSIP: 15687V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5066 | NS      | $59272.20     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EastGroup Properties Inc                       | EastGroup Properties Inc                                            | CUSIP: 277276101<br>LEI: 31TIGQQZC4P6JMHKSW85 | Long             | EC               |  | US        |      1343 | NS      | $224442.16    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce Bancshares Inc/MO                     | Commerce Bancshares Inc/MO                                          | CUSIP: 200525103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6370 | NS      | $396022.90    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corp                                    | Hexcel Corp                                                         | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |      2704 | NS      | $152748.96    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc                  | Rexford Industrial Realty Inc                                       | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               |  | US        |      4015 | NS      | $142813.55    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| BayCurrent Inc                                 | BayCurrent Inc                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2855 | NS      | $146873.83    | 0.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Wyndham Hotels & Resorts Inc                   | Wyndham Hotels & Resorts Inc                                        | CUSIP: 98311A105<br>LEI: 549300FE3MQ4RVXXC673 | Long             | EC               | CORP              | US        |      3511 | NS      | $285128.31    | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Thule Group AB                                 | Thule Group AB                                                      | CUSIP: 000000000<br>LEI: 549300XHHOGBOERKU333 | Long             | EC               | CORP              | SE        |      3989 | NS      | $114898.18    | 0.53%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Performance Food Group Co                      | Performance Food Group Co                                           | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      3139 | NS      | $274568.33    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity LifeStyle Properties Inc                | Equity LifeStyle Properties Inc                                     | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               |  | US        |      4122 | NS      | $254203.74    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Relo Group Inc                                 | Relo Group Inc                                                      | CUSIP: 000000000<br>LEI: 353800T595XRZDA8IB59 | Long             | EC               | CORP              | JP        |     18148 | NS      | $215380.10    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| KBC Ancora                                     | KBC Ancora                                                          | CUSIP: 000000000<br>LEI: 549300I4XZ0RR3ZOSZ55 | Long             | EC               | CORP              | BE        |      1973 | NS      | $135822.66    | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| AAON Inc                                       | AAON Inc                                                            | CUSIP: 000360206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2114 | NS      | $155907.50    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                      | Graco Inc                                                           | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |      2890 | NS      | $248453.30    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| JTC PLC                                        | JTC PLC                                                             | CUSIP: 000000000<br>LEI: 213800DVUG4KLF2ASK33 | Long             | EC               | CORP              | JE        |     26571 | NS      | $311257.18    | 1.43%             |  |  |  | Yes           |                  2 | On Loan: No      |
| SPS Commerce Inc                               | SPS Commerce Inc                                                    | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |       682 | NS      | $92813.38     | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Supermarket Income Reit PLC                    | Supermarket Income Reit PLC                                         | CUSIP: 000000000<br>LEI: 2138007FOINJKAM7L537 | Long             | EC               |  | GB        |    204539 | NS      | $238824.05    | 1.09%             |  |  |  | No            |                  2 | 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