Calvert VP EAFE International Index Portfolio 1St Quarter Holdings
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Calvert VP EAFE International Index Portfolio March 31, 2020 Schedule of Investments (Unaudited) Common Stocks — 98.5% Security Shares Value Australia (continued) Security Shares Value Australia — 5.8% Ramsay Health Care, Ltd. 1,442 $ 50,704 REA Group, Ltd. 537 25,155 AGL Energy, Ltd. 6,090 $ 63,734 Rio Tinto, Ltd. 3,172 163,420 Alumina, Ltd.(1) 14,501 12,996 Santos Ltd., 13,517 27,761 AMP,Ltd.(1)(2) 22,416 18,306 Scentre Group 45,895 43,959 APA Group(1) 11,361 72,094 Seek, Ltd.(1) 3,323 30,366 Aristocrat Leisure, Ltd. 4,773 61,847 Sonic Healthcare, Ltd. 4,020 60,420 ASX, Ltd. 1,623 76,185 South32, Ltd. 48,353 53,377 Aurizon Holdings, Ltd. 16,477 42,701 Stockland 19,317 29,704 AusNet Services(1) 27,031 28,383 Suncorp Group, Ltd.(1) 11,330 62,918 Australia & New Zealand Banking Group, Ltd. 24,210 253,900 Sydney Airport 8,748 30,225 Bendigo & Adelaide Bank, Ltd. 4,706 18,080 Tabcorp Holdings, Ltd.(1) 15,814 24,474 BGP Holdings PLC(2)(3) 77,172 — Telstra Corp., Ltd. 37,215 69,858 BHP Group, Ltd. 26,250 476,209 TPG Telecom, Ltd.(1) 3,460 14,735 BlueScope Steel, Ltd. 4,388 22,973 Transurban Group(1) 24,274 180,808 Boral, Ltd. 10,917 13,712 Treasury Wine Estates, Ltd. 6,449 40,039 Brambles, Ltd. 14,024 90,648 Vicinity Centres 25,959 16,238 Caltex Australia, Ltd. 1,867 25,210 Washington H. Soul Pattinson & Co., Ltd.(1) 1,000 10,333 Challenger, Ltd. 5,824 14,226 Wesfarmers, Ltd. 9,364 198,425 CIMIC Group, Ltd.(1) 1,008 14,277 Westpac Banking Corp. 29,277 300,698 Coca-Cola Amatil, Ltd. 2,449 13,218 WiseTech Global, Ltd.(1) 1,431 14,877 Cochlear, Ltd. 420 47,868 Woodside Petroleum, Ltd.(1) 8,295 92,045 Coles Group, Ltd. 8,634 80,409 Woolworths Group, Ltd. 10,747 233,708 Commonwealth Bank of Australia(1) 15,098 569,648 WorleyParsons, Ltd.(1) 1,653 6,134 Computershare, Ltd. 3,586 21,467 $5,723,153 Crown Resorts, Ltd.(1) 3,713 17,231 Austria — 0.2% CSL, Ltd. 3,904 707,684 Dexus 9,023 50,002 ANDRITZ AG 669 $ 20,959 Flight Centre Travel Group, Ltd.(1) 565 3,567 Erste Group Bank AG 2,528 46,282 Fortescue Metals Group, Ltd. 11,558 70,830 OMV AG 1,054 28,845 Goodman Group 14,771 108,266 Raiffeisen Bank International AG 1,194 17,175 GPT Group (The) 14,077 31,274 Verbund AG 502 18,105 Harvey Norman Holdings, Ltd.(1) 5,671 10,413 Voestalpine AG 1,159 23,385 Incitec Pivot, Ltd. 17,202 21,338 $ 154,751 Insurance Australia Group, Ltd.(1) 21,017 79,298 Belgium — 0.9% Lend Lease Group 5,044 31,625 (1) Macquarie Group, Ltd. 2,900 154,448 Ageas 1,514 $ 63,091 Magellan Financial Group, Ltd. 1,137 30,155 Anheuser-Busch InBev SA/NV 6,687 295,364 (1) Medibank Pvt, Ltd. 21,199 34,862 Colruyt SA 686 37,187 Mirvac Group 28,589 36,322 Galapagos NV(2) 390 76,587 National Australia Bank, Ltd. 24,625 252,600 Groupe Bruxelles Lambert SA 572 45,006 Newcrest Mining, Ltd. 6,846 94,014 KBC Groep NV 2,178 98,827 Oil Search, Ltd. 12,475 18,092 Proximus SA 920 21,127 Orica, Ltd. 3,401 31,838 Solvay SA 647 46,628 Origin Energy, Ltd. 16,629 44,686 Telenet Group Holding NV 537 16,125 Qantas Airways, Ltd. 7,283 14,170 UCB SA 1,094 93,605 QBE Insurance Group, Ltd. 11,896 61,966 1 Calvert VP EAFE International Index Portfolio March 31, 2020 Schedule of Investments (Unaudited) — continued Security Shares Value Security Shares Value Belgium (continued) France (continued) Umicore SA 1,940 $ 66,913 Arkema SA 578 $ 39,463 $ 860,460 Atos SE 785 52,301 AXA SA 16,264 275,381 Denmark — 2.2% BioMerieux 321 36,340 AP Moller - Maersk A/S, Class A 21 $ 17,248 BNP Paribas SA 9,829 286,960 AP Moller - Maersk A/S, Class B 63 55,841 Bollore SA 8,863 24,086 Carlsberg A/S, Class B 953 107,288 Bouygues SA 2,111 61,264 Chr. Hansen Holding A/S 842 62,133 Bureau Veritas SA 2,318 43,692 Coloplast A/S, Class B 1,084 157,209 Capgemini SE 1,303 108,882 Danske Bank A/S 5,328 59,297 Carrefour SA(1) 4,745 75,229 Demant A/S(1)(2) 1,207 26,281 Casino Guichard-Perrachon SA(1) 619 23,689 DSV PANALPINA A/S 1,800 163,672 Cie de Saint-Gobain 4,155 99,701 Genmab A/S(2) 544 109,272 Cie Generale des Etablissements Michelin SCA 1,404 122,969 H Lundbeck A/S 411 12,068 CNP Assurances 992 9,605 ISS A/S(1) 1,075 14,707 Covivio 345 19,375 Novo Nordisk A/S, Class B 15,028 897,413 Credit Agricole SA 10,461 74,021 Novozymes A/S, Class B 2,046 91,777 Danone SA 5,408 346,102 Orsted A/S(4) 1,567 153,406 Dassault Aviation SA 27 22,172 Pandora A/S 992 31,874 Dassault Systemes SE 1,153 168,328 Tryg A/S 1,180 28,721 Edenred 2,118 87,896 Vestas Wind Systems A/S 1,533 124,733 Eiffage SA 600 42,590 $ 2,112,940 Electricite de France SA 5,047 39,465 Engie SA 15,203 155,686 Finland — 1.1% EssilorLuxottica SA 2,381 252,088 Elisa Oyj 1,450 $ 89,499 Eurazeo SE 476 21,358 Fortum Oyj 3,869 56,283 Eurofins Scientific SE(1) 110 53,680 Kone Oyj, Class B 3,003 168,170 Eutelsat Communications SA 1,779 18,493 Metso Oyj(1) 1,149 27,077 Faurecia SE 412 12,064 Neste Oyj 3,612 120,090 Gecina SA 419 55,136 Nokia Oyj 46,422 142,973 Getlink SE 3,977 48,100 Nokian Renkaat Oyj(1) 1,167 27,866 Hermes International 288 195,958 Nordea Bank Abp 28,251 158,923 Icade SA 224 17,581 Orion Oyj, Class B 1,045 42,528 Iliad SA 130 17,515 Sampo Oyj, Class A(1) 3,373 97,307 Ingenico Group SA 559 58,432 Stora Enso Oyj, Class R 4,859 48,584 Ipsen SA 305 15,634 UPM-Kymmene Oyj(1) 4,370 119,156 JC Decaux SA 757 13,458 Wartsila Oyj Abp 3,830 27,968 Kering SA 636 331,618 $ 1,126,424 Klepierre SA 1,482 28,249 Legrand SA 2,379 151,737 France — 10.1% L’Oreal SA 2,154 557,478 Accor SA 1,534 $ 41,213 LVMH Moet Hennessy Louis Vuitton SE 2,386 875,068 Aeroports de Paris 234 22,606 Natixis SA 7,719 24,579 Air Liquide SA 4,211 537,523 Orange SA 17,649 213,684 Alstom SA 1,576 65,076 Pernod-Ricard SA 1,784 253,214 Amundi SA(4) 600 34,716 Peugeot SA 4,946 64,393 ArcelorMittal SA 5,939 56,067 Publicis Groupe SA 1,961 56,043 Remy Cointreau SA 223 24,304 2 Calvert VP EAFE International Index Portfolio March 31, 2020 Schedule of Investments (Unaudited) — continued Security Shares Value Security Shares Value France (continued) Germany (continued) Renault SA 1,759 $ 33,429 Evonik Industries AG 1,690 $ 35,293 Safran SA 2,812 249,135 Fraport AG Frankfurt Airport Services Worldwide 424 17,068 Sanofi 9,738 843,065 Fresenius Medical Care AG & Co. KGaA 1,903 124,220 Sartorius Stedim Biotech 204 40,709 Fresenius SE & Co. KGaA 3,759 139,958 Schneider Electric SE 4,674 395,060 Fuchs Petrolub SE, PFC Shares 708 25,255 SCOR SE 1,419 31,220 GEA Group AG 1,575 32,536 SEB SA 175 21,675 Hannover Rueck SE 541 76,392 SES SA FDR 3,178 18,644 HeidelbergCement AG 1,352 57,762 Societe Generale SA 6,891 112,889 Henkel AG & Co. KGaA 931 68,389 Sodexo SA 778 52,247 Henkel AG & Co. KGaA, PFC Shares 1,492 119,333 Suez 2,099 21,325 HOCHTIEF AG 211 13,854 Teleperformance 519 107,494 Infineon Technologies AG 10,311 148,847 Thales SA 954 79,006 KION Group AG 671 28,878 Total SA 20,645 777,878 Knorr-Bremse AG 433 38,068 Ubisoft Entertainment SA(2) 812 59,350 Lanxess AG 810 32,241 Unibail-Rodamco-Westfield 1,158 66,384 Merck KGaA 1,141 115,198 Valeo SA 2,186 35,579 METRO AG 1,662 14,156 Veolia Environnement SA 4,212 88,961 MTU Aero Engines AG 460 66,514 Vinci SA 4,302 351,513 Muenchener Rueckversicherungs-Gesellschaft AG 1,188 238,871 Vivendi SA 6,713 141,935 Porsche Automobil Holding SE, PFC Shares 1,254 52,418 Wendel SA 198 15,712 Puma SE 560 32,903 Worldline SA(2)(4) 1,031 60,851 RWE AG 4,894 127,986 $ 9,936,323 SAP SE 8,384 936,056 Sartorius AG, PFC Shares 314 75,070 Germany — 8.0% Siemens AG 6,547 548,213 adidas AG 1,576 $ 349,915 Siemens Healthineers AG(4) 983 37,999 Allianz SE 3,636 619,201 Symrise AG 1,151 106,478 Aroundtown SA 7,932 39,703 Telefonica Deutschland Holding AG(4) 7,582 18,615 BASF SE 7,787 363,979 ThyssenKrupp AG(2) 3,750 19,752 Bayer AG 8,335 477,582 TUI AG 4,204 18,401 Bayerische Motoren Werke AG 2,757 140,743 Uniper SE 1,361 33,430 Bayerische Motoren Werke AG, PFC Shares 555 23,535 United Internet AG 1,054 30,648 Beiersdorf AG 943 94,951 Volkswagen AG 330 43,295 Brenntag AG 1,412 51,301 Volkswagen AG, PFC Shares 1,625 187,194 Carl Zeiss Meditec AG 239 22,758 Vonovia SE 4,410 219,369 Commerzbank AG 8,316 29,604 Wirecard AG 959 108,051 Continental AG 836 59,605 Zalando SE(2)(4) 1,166 43,947 (4) Covestro AG 1,407 42,700 $7,924,165 Daimler AG 7,922 236,584 Hong Kong — 3.7% Delivery Hero SE(2)(4) 947 69,627 Deutsche Bank AG 15,978 101,573 AIA Group, Ltd.