Eaton Vance
International Small-Cap Fund
February 28, 2026
Portfolio of Investments (Unaudited)
Common Stocks — 98.8%
Security Shares Value
Australia — 9.9%
BlueScope Steel Ltd.    1,042 $   20,757
CAR Group Ltd.      975    18,407
Dicker Data Ltd.    3,139    22,421
EBOS Group Ltd.    1,694    24,324
Evolution Mining Ltd.    6,804    80,723
IGO Ltd.(1)    2,226    13,615
Lynas Rare Earths Ltd.(1)    1,643    21,777
Northern Star Resources Ltd.    2,682    58,789
Steadfast Group Ltd.   13,763    43,103
Westgold Resources Ltd.   10,829    60,116
      $  364,032
Austria — 1.2%
BAWAG Group AG(2)      296 $   45,845
      $   45,845
Belgium — 2.4%
Elia Group SA      299 $   47,506
KBC Ancora      462    41,048
      $   88,554
Canada — 7.1%
Descartes Systems Group, Inc.(1)      280 $   18,520
DPM Metals, Inc.      701    30,352
Keyera Corp.    1,184    45,188
Lumine Group, Inc.(1)    1,314    20,451
OR Royalties, Inc.      575    27,244
Pan American Silver Corp.      531    36,429
Peyto Exploration & Development Corp.    2,733    52,955
TMX Group Ltd.      855    28,839
      $  259,978
France — 0.6%
IPSOS SA      532 $   21,564
      $   21,564
Germany — 6.2%
CTS Eventim AG & Co. KGaA      470 $   38,061
Innoscripta SE(1)      126    10,629
Jenoptik AG    1,215    40,134
Pfisterer Holding SE(1)      532     47,529
Security Shares Value
Germany (continued)
Schott Pharma AG & Co. KGaA    1,547 $   26,772
TKMS AG& Co. KGaA(1)      549    62,292
      $  225,417
Ireland — 1.7%
Irish Residential Properties REIT PLC   48,268 $   61,224
      $   61,224
Italy — 6.9%
A2A SpA   12,368 $   36,080
Amplifon SpA    1,601    24,832
FinecoBank Banca Fineco SpA    2,238    52,669
Interpump Group SpA      990    45,521
Moncler SpA      496    34,216
Recordati Industria Chimica e Farmaceutica SpA      490    27,996
Reply SpA      287    30,705
      $  252,019
Japan — 30.6%
Arealink Co. Ltd.    5,417 $   44,431
As One Corp.    3,606    52,595
Asahi Intecc Co. Ltd.    1,059    22,826
Azbil Corp.    5,763    53,523
Chiba Bank Ltd.    3,604    53,605
Cosmos Pharmaceutical Corp.      715    31,757
Daiseki Co. Ltd.    1,987    50,395
Fuji Corp.    2,353    91,483
Fukuoka Financial Group, Inc.      994    43,478
Funai Soken Holdings, Inc.    5,090    37,745
Hikari Tsushin, Inc.      130    36,753
Hoshino Resorts REIT, Inc.       33    57,282
Japan Exchange Group, Inc.    2,504    34,077
JMDC, Inc.    1,186    31,613
Kobe Bussan Co. Ltd.    1,450    34,502
Kotobuki Spirits Co. Ltd.    3,249    41,373
Kyoritsu Maintenance Co. Ltd.    2,245    38,445
LaSalle Logiport REIT       56    55,223
Makita Corp.    1,551    60,013
NOF Corp.    1,365    27,394
Relo Group, Inc.    4,833    59,656
Riken Keiki Co. Ltd.    1,455    33,686
Sumco Corp.    2,845    33,106
Tosei Corp.    4,331    45,734
USS Co. Ltd.    3,802    46,180
      $1,116,875
 
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Eaton Vance
International Small-Cap Fund
February 28, 2026
Portfolio of Investments (Unaudited) — continued
Security Shares Value
Luxembourg — 0.4%
APERAM SA      255 $   13,391
      $   13,391
Netherlands — 3.2%
BE Semiconductor Industries NV      222 $   49,747
Euronext NV(2)      211    34,861
IMCD NV      190    18,305
Topicus.com, Inc.(1)      190    13,057
      $  115,970
Singapore — 0.1%
Daiwa House Logistics Trust    5,873 $    2,599
      $    2,599
Sweden — 5.9%
AddTech AB, Class B    1,127 $   41,658
Boliden AB(1)      338    26,792
Lagercrantz Group AB, Class B    1,535    37,440
SmartCraft ASA(1)    7,242    13,131
SSAB AB, Class B    2,486    21,951
Sweco AB, Class B    2,663    42,517
Thule Group AB(2)    1,237    31,928
      $  215,417
Switzerland — 4.3%
Cicor Technologies Ltd.(1)      190 $   41,055
Galenica AG(2)      227    28,342
Interroll Holding AG       22    55,293
VZ Holding AG      185    34,783
      $  159,473
United Kingdom — 17.6%
Babcock International Group PLC    3,491 $   63,772
Cerillion PLC    1,072    22,382
Cranswick PLC      663    48,458
Diploma PLC      929    70,962
discoverIE Group PLC    6,082    53,734
Games Workshop Group PLC      251    60,374
Howden Joinery Group PLC    3,346    43,600
Intertek Group PLC      594    37,850
Premier Foods PLC   17,242    45,823
Savills PLC    3,678    50,133
Volution Group PLC    5,743     55,104
Security Shares Value
United Kingdom (continued)
Wise PLC, Class A(1)    4,003 $   46,382
Zegona Communications PLC    1,920    43,387
      $  641,961
United States — 0.7%
BRP, Inc.      360 $   26,395
      $   26,395
Total Common Stocks
(identified cost $2,415,430) 		    $3,610,714
    
Short-Term Investments — 0.1%
Security Shares Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 3.59%(3)    3,076 $    3,076
Total Short-Term Investments
(identified cost $3,076) 		    $    3,076
     
Total Investments — 98.9%
(identified cost $2,418,506) 		    $3,613,790
Other Assets, Less Liabilities — 1.1%     $   39,706
Net Assets — 100.0%     $3,653,496
The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
(1) Non-income producing security.
(2) 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 February 28, 2026, the aggregate value of these securities is $140,976 or 3.9% of the Fund's net assets.
(3) May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of February 28, 2026.
 
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Eaton Vance
International Small-Cap Fund
February 28, 2026
Portfolio of Investments (Unaudited) — continued
Sector Classification of Portfolio
Sector Percentage
of Net Assets 		Value
Industrials 24.9% $914,526
Financials 12.4 458,690
Information Technology 12.1 439,987
Materials 12.0 439,330
Real Estate 10.4 376,282
Health Care 6.5 239,300
Consumer Discretionary 6.6 237,538
Consumer Staples 5.5 201,913
Communication Services 3.4 121,419
Energy 2.7 98,143
Utilities 2.3 83,586
Short-Term Investments 0.1 3,076
Total Investments 98.9% $3,613,790
The Fund did not have any open derivative instruments at February 28, 2026.
Affiliated Investments
At February 28, 2026, the value of the Fund’s investment in funds that may be deemed to be affiliated was $3,076, which represents 0.1% of the Fund’s net assets. Transactions in such investments by the Fund for the fiscal year to date ended February 28, 2026 were as follows:
Name Value,
beginning
of period 		Purchases Sales
proceeds 		Net realized
gain (loss) 		Change in
unrealized
appreciation
(depreciation) 		Value, end
of period 		Dividend
income 		Shares,
end of period
Short-Term Investments 
Liquidity Fund, Institutional Class(1) $34,533 $537,034 $(568,491) $ — $ — $3,076 $541 3,076
(1) Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio.
Fair Value Measurements
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
• Level 1 – quoted prices in active markets for identical investments
• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
• Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
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Eaton Vance
International Small-Cap Fund
February 28, 2026
Portfolio of Investments (Unaudited) — continued
At February 28, 2026, the hierarchy of inputs used in valuing the Fund's investments, which are carried at fair value, were as follows:
Asset Description  Level 1  Level 2  Level 3  Total 
Common Stocks:        
Asia $ 44,431 $1,075,043 $ — $1,119,474
Australasia/Pacific     —   364,032  —   364,032
Developed Europe  75,349 1,765,486  — 1,840,835
North America 286,373       —  —   286,373
Total Common Stocks $406,153 $3,204,561* $ — $3,610,714
Short-Term Investments $  3,076 $      — $ — $    3,076
Total Investments $409,229 $3,204,561 $ — $3,613,790
* 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.
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