UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-21323
Eaton Vance Limited Duration Income Fund
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Deidre E. Walsh
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number)
March 31
Date of Fiscal Year End
September 30, 2021
Date of Reporting Period
Item 1. Reports to Stockholders
Eaton Vance
Limited Duration Income Fund (EVV)
Semiannual Report
September 30, 2021
Commodity Futures Trading Commission Registration. The Commodity Futures Trading Commission (“CFTC”) has adopted regulations that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The investment adviser has claimed an exclusion from the definition of “commodity pool operator” under the Commodity Exchange Act with respect to its management of the Fund. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator. The adviser is also registered as a commodity trading advisor.
Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.
Semiannual Report September 30, 2021
Eaton Vance
Limited Duration Income Fund
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Performance1,2
Portfolio Managers Catherine C. McDermott, Andrew Szczurowski, CFA, Eric A. Stein, CFA and Kelley Baccei Gerrity
| | | | | | | | | | | | | | | | | | | | |
% Average Annual Total Returns | | Inception Date | | | Six Months | | | One Year | | | Five Years | | | Ten Years | |
| | | | | |
Fund at NAV | | | 05/30/2003 | | | | 3.73 | % | | | 11.92 | % | | | 5.86 | % | | | 6.70 | % |
Fund at Market Price | | | — | | | | 9.22 | | | | 28.00 | | | | 7.51 | | | | 7.33 | |
|
| |
| | | | | |
Bloomberg U.S. Aggregate Bond Index | | | — | | | | 1.88 | % | | | –0.90 | % | | | 2.94 | % | | | 3.01 | % |
Blended Index | | | — | | | | 1.92 | | | | 5.89 | | | | 4.26 | | | | 4.73 | |
| | | | | |
% Premium/Discount to NAV3 | | | | | | | | | | | | | | | |
| | | | | |
| | | | | | | | | | | | | | | | | | | –1.93 | % |
| | | | | |
Distributions4 | | | | | | | | | | | | | | | |
| | | | | |
Total Distributions per share for the period | | | | | | | | | | | | | | | | | | $ | 0.600 | |
Distribution Rate at NAV | | | | | | | | | | | | | | | | | | | 8.93 | % |
Distribution Rate at Market Price | | | | | | | | | | | | | | | | | | | 9.10 | |
| | | | | |
% Total Leverage5 | | | | | | | | | | | | | | | |
| | | | | |
Auction Preferred Shares (APS) | | | | | | | | | | | | | | | | | | | 9.45 | % |
Borrowings | | | | | | | | | | | | | | | | | | | 22.30 | |
See Endnotes and Additional Disclosures in this report.
Past performance is no guarantee of future results. Returns are historical and are calculated net of management fees and other expenses by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested in accordance with the Fund’s Dividend Reinvestment Plan. Performance at market price will differ from performance at NAV due to variations in the Fund’s market price versus NAV, which may reflect factors such as fluctuations in supply and demand for Fund shares, changes in Fund distributions, shifting market expectations for the Fund’s future returns and distribution rates, and other considerations affecting the trading prices of closed-end funds. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance for periods less than or equal to one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Fund Profile
Asset Allocation (% of total investments)6
MBS refers to Mortgage-Backed Securities
See Endnotes and Additional Disclosures in this report.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Endnotes and Additional Disclosures
1 | Bloomberg U.S. Aggregate Bond Index is an unmanaged index of domestic investment-grade bonds, including corporate, government and mortgage-backed securities. S&P/LSTA Leveraged Loan Index is an unmanaged index of the institutional leveraged loan market. S&P/ LSTA Leveraged Loan indices are a product of S&P Dow Jones Indices LLC (“S&P DJI”) and have been licensed for use. S&P® is a registered trademark of S&P DJI; Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); LSTA is a trademark of Loan Syndications and Trading Association, Inc. S&P DJI, Dow Jones, their respective affiliates and their third party licensors do not sponsor, endorse, sell or promote the Fund, will not have any liability with respect thereto and do not have any liability for any errors, omissions, or interruptions of the S&P Dow Jones Indices. ICE BofA B U.S. High Yield Index is an unmanaged index of below-investment grade U.S. corporate bonds with a credit quality rating of B. ICE BofA U.S. Mortgage-Backed Securities Index is an unmanaged index of fixed rate residential mortgage pass-through securities issued by U.S. agencies. ICE® BofA® indices are not for redistribution or other uses; provided “as is”, without warranties, and with no liability. Eaton Vance has prepared this report and ICE Data Indices, LLC does not endorse it, or guarantee, review, or endorse Eaton Vance’s products. BofA® is a licensed registered trademark of Bank of America Corporation in the United States and other countries. The Blended Index consists of 33.33% S&P/LSTA Leveraged Loan Index, 33.33% ICE BofA B U.S. High Yield Index and 33.34% ICE BofA U.S. Mortgage-Backed Securities Index, rebalanced monthly. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
2 | Performance results reflect the effects of leverage. Included in the average annual total return at NAV for the five- and ten-year periods is the impact of the 2018 tender and repurchase of a portion of the Fund’s Auction Preferred Shares (APS) at 92% of the Fund’s APS per share liquidation preference. Had this transaction not occurred, the total return at NAV would be lower for the Fund. The Fund’s performance for certain periods reflects the effects of expense reductions. Absent these reductions, performance would have been lower. Pursuant to the Fund’s Dividend Reinvestment Plan, if the NAV per share on the distribution payment date is equal to or less than the market price per share plus estimated brokerage commissions, then new shares are issued. The number of shares shall be determined by the greater of the NAV per share or 95% of the market price. Otherwise, shares generally are purchased on the open market by the Plan’s agent. |
3 | The shares of the Fund often trade at a discount or premium to their net asset value. The discount or premium may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to https://funds.eatonvance.com/closed-end-fund-prices.php. |
4 | The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions in any period may be more or less than the net return earned by the Fund on its investments, and therefore should not be used as a measure of performance or confused with “yield” or “income.” Distributions in excess of Fund returns may include a return of capital which, over time, will cause the Fund’s net assets and net asset value per share to erode. When the Fund’s distributions include amounts from sources other than net investment income, shareholders are notified. The final determination of the tax characteristics of Fund distributions will occur after the end of the year, at which time that determination will be reported to shareholders. |
5 | Leverage represents the liquidation value of the Fund’s APS and borrowings outstanding as a percentage of Fund net assets applicable to common shares plus APS and borrowings outstanding. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of leverage rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time. |
6 | Including the Fund’s use of leverage, Asset Allocation as a percentage of the Fund’s net assets amounted to 154.5%. |
Fund profile subject to change due to active management.
Important Notice to Shareholders
Effective October 11, 2021, pursuant to new Securities and Exchange Commission rules that require closed-end funds to compare their performance to a primary broad-based securities market index, the Fund adopted the Bloomberg U.S. Aggregate Bond Index as its primary benchmark.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited)
| | | | | | | | | | |
Asset-Backed Securities — 7.2% | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Alinea CLO, Ltd., Series 2018-1A, Class E, 6.134%, (3 mo. USD LIBOR + 6.00%), 7/20/31(1)(2) | | | | $ | 1,000 | | | $ | 984,181 | |
| | | |
AMMC CLO 15, Ltd., Series 2014-15A, Class ERR, 7.036%, (3 mo. USD LIBOR + 6.91%), 1/15/32(1)(2) | | | | | 500 | | | | 491,058 | |
| | | |
AMMC CLO XII, Ltd., Series 2013-12A, Class ER, 6.308%, (3 mo. USD LIBOR + 6.18%), 11/10/30(1)(2) | | | | | 2,000 | | | | 1,879,986 | |
| | | |
Ares XXXIV CLO, Ltd., Series 2015-2A, Class ER, 6.984%, (3 mo. USD LIBOR + 6.85%), 4/17/33(1)(2) | | | | | 2,000 | | | | 1,985,456 | |
| | | |
Ares XXXVR CLO, Ltd., Series 2015-35RA, Class E, 5.826%, (3 mo. USD LIBOR + 5.70%), 7/15/30(1)(2) | | | | | 2,000 | | | | 1,952,814 | |
| | | |
Bardot CLO, Ltd., Series 2019-2A, Class E, 7.088%, (3 mo. USD LIBOR + 6.95%), 10/22/32(1)(2) | | | | | 1,850 | | | | 1,850,577 | |
| | | |
Benefit Street Partners CLO XVI, Ltd., Series 2018-16A, Class E, 6.834%, (3 mo. USD LIBOR + 6.70%), 1/17/32(1)(2) | | | | | 3,000 | | | | 2,985,894 | |
| | | |
Benefit Street Partners CLO XVII, Ltd., Series 2019-17A, Class ER, 6.459%, (3 mo. USD LIBOR + 6.35%), 7/15/32(1)(2) | | | | | 3,000 | | | | 3,002,322 | |
| | | |
Benefit Street Partners CLO XVIII, Ltd., Series 2019-18A, Class E, 7.026%, (3 mo. USD LIBOR + 6.90%), 10/15/32(1)(2) | | | | | 4,500 | | | | 4,500,270 | |
| | | |
BlueMountain CLO XXIV, Ltd., Series 2019-24A, Class ER, 6.974%, (3 mo. USD LIBOR + 6.84%), 4/20/34(1)(2) | | | | | 1,000 | | | | 991,133 | |
| | | |
BlueMountain CLO XXV, Ltd., Series 2019-25A, Class ER, 7.376%, (3 mo. USD LIBOR + 7.25%), 7/15/36(1)(2) | | | | | 2,000 | | | | 1,996,824 | |
| | | |
BlueMountain CLO XXVI, Ltd., Series 2019-26A, Class E, 7.834%, (3 mo. USD LIBOR + 7.70%), 10/20/32(1)(2) | | | | | 6,500 | | | | 6,504,446 | |
| | | |
BlueMountain CLO, Ltd.: | | | | | | | | | | |
| | | |
Series 2016-3A, Class ER, 6.075%, (3 mo. USD LIBOR + 5.95%), 11/15/30(1)(2) | | | | | 2,000 | | | | 1,869,702 | |
| | | |
Series 2018-1A, Class E, 6.079%, (3 mo. USD LIBOR + 5.95%), 7/30/30(1)(2) | | | | | 1,000 | | | | 955,203 | |
| | | |
Canyon Capital CLO, Ltd.: | | | | | | | | | | |
| | | |
Series 2016-2A, Class ER, 6.126%, (3 mo. USD LIBOR + 6.00%), 10/15/31(1)(2) | | | | | 3,350 | | | | 3,168,380 | |
| | | |
Series 2019-2A, Class E, 7.276%, (3 mo. USD LIBOR + 7.15%), 10/15/32(1)(2) | | | | | 1,000 | | | | 1,000,323 | |
| | | |
Carlyle CLO 17, Ltd., Series C17A, Class DR, 6.129%, (3 mo. USD LIBOR + 6.00%), 4/30/31(1)(2) | | | | | 1,750 | | | | 1,662,411 | |
| | | |
Carlyle Global Market Strategies CLO, Ltd.: | | | | | | | | | | |
| | | |
Series 2012-3A, Class DR2, 6.633%, (3 mo. USD LIBOR + 6.50%), 1/14/32(1)(2) | | | | | 2,000 | | | | 1,838,498 | |
| | | |
Series 2014-4RA, Class D, 5.776%, (3 mo. USD LIBOR + 5.65%), 7/15/30(1)(2) | | | | | 1,250 | | | | 1,126,268 | |
| | | |
Series 2015-5A, Class DR, 6.834%, (3 mo. USD LIBOR + 6.70%), 1/20/32(1)(2) | | | | | 1,000 | | | | 955,170 | |
| | | | | | | | | | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Cedar Funding X CLO, Ltd.: | | | | | | | | | | |
| | | |
Series 2019-10A, Class E, 7.134%, (3 mo. USD LIBOR + 7.00%), 10/20/32(1)(2) | | | | $ | 1,500 | | | $ | 1,500,393 | |
| | | |
Series 2019-10A, Class ER, 10/20/32(1)(3) | | | | | 1,500 | | | | 1,500,750 | |
| | | |
Dryden Senior Loan Fund: | | | | | | | | | | |
| | | |
Series 2015-41A, Class ER, 5.426%, (3 mo. USD LIBOR + 5.30%), 4/15/31(1)(2) | | | | | 2,000 | | | | 1,909,490 | |
| | | |
Series 2016-42A, Class ER, 5.676%, (3 mo. USD LIBOR + 5.55%), 7/15/30(1)(2) | | | | | 1,000 | | | | 968,517 | |
| | | |
FOCUS Brands Funding, LLC, Series 2017-1A, Class A2IB, 3.857%, 4/30/47(1) | | | | | 1,551 | | | | 1,595,920 | |
| | | |
Fort Washington CLO, Ltd., Series 2019-1A, Class E, 7.384%, (3 mo. USD LIBOR + 7.25%), 10/20/32(1)(2) | | | | | 1,500 | | | | 1,500,270 | |
| | | |
Galaxy XIX CLO, Ltd., Series 2015-19A, Class D2R, 7.125%, (3 mo. USD LIBOR + 7.00%), 7/24/30(1)(2) | | | | | 1,600 | | | | 1,576,646 | |
| | | |
Galaxy XV CLO, Ltd., Series 2013-15A, Class ER, 6.771%, (3 mo. USD LIBOR + 6.65%), 10/15/30(1)(2) | | | | | 3,275 | | | | 3,229,373 | |
| | | |
Galaxy XXI CLO, Ltd., Series 2015-21A, Class ER, 5.384%, (3 mo. USD LIBOR + 5.25%), 4/20/31(1)(2) | | | | | 1,100 | | | | 1,057,566 | |
| | | |
Galaxy XXV CLO, Ltd., Series 2018-25A, Class E, 6.075%, (3 mo. USD LIBOR + 5.95%), 10/25/31(1)(2) | | | | | 1,000 | | | | 976,281 | |
| | | |
Golub Capital Partners CLO 37B, Ltd., Series 2018-37A, Class E, 5.884%, (3 mo. USD LIBOR + 5.75%), 7/20/30(1)(2) | | | | | 3,000 | | | | 2,728,704 | |
| | | |
Kayne CLO 5, Ltd., Series 2019-5A, Class E, 6.825%, (3 mo. USD LIBOR + 6.70%), 7/24/32(1)(2) | | | | | 4,550 | | | | 4,551,201 | |
| | | |
Madison Park Funding XVII, Ltd., Series 2015-17A, Class ER, 6.634%, (3 mo. USD LIBOR + 6.50%), 7/21/30(1)(2) | | | | | 2,000 | | | | 1,994,412 | |
| | | |
Madison Park Funding XXXVI, Ltd., Series 2019-36A, Class E, 7.376%, (3 mo. USD LIBOR + 7.25%), 1/15/33(1)(2) | | | | | 1,500 | | | | 1,501,488 | |
| | | |
Madison Park Funding XXXVII, Ltd., Series 2019-37A, Class ER, 6.29%, (3 mo. USD LIBOR + 6.15%), 7/15/33(1)(2) | | | | | 3,500 | | | | 3,499,492 | |
| | | |
Magnetite XXIV, Ltd., Series 2019-24A, Class E, 7.076%, (3 mo. USD LIBOR + 6.95%), 1/15/33(1)(2) | | | | | 3,000 | | | | 3,016,302 | |
| | | |
Neuberger Berman CLO XXII, Ltd., Series 2016-22A, Class ER, 6.194%, (3 mo. USD LIBOR + 6.06%), 10/17/30(1)(2) | | | | | 1,500 | | | | 1,490,183 | |
| | | |
Neuberger Berman Loan Advisers CLO 30, Ltd., Series 2018-30A, Class ER, 6.334%, (3 mo. USD LIBOR + 6.20%), 1/20/31(1)(2) | | | | | 2,000 | | | | 1,999,924 | |
| | | |
Neuberger Berman Loan Advisers CLO 31, Ltd., Series 2019-31A, Class ER, 6.634%, (3 mo. USD LIBOR + 6.50%), 4/20/31(1)(2) | | | | | 1,000 | | | | 999,959 | |
| | | | |
| | 5 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Neuberger Berman Loan Advisers CLO 33, Ltd., Series 2019-33A, Class E, 6.926%, (3 mo. USD LIBOR + 6.80%), 10/16/32(1)(2) | | | | $ | 2,250 | | | $ | 2,250,011 | |
| | | |
Palmer Square CLO, Ltd.: | | | | | | | | | | |
| | | |
Series 2013-2A, Class DRR, 5.984%, (3 mo. USD LIBOR + 5.85%), 10/17/31(1)(2) | | | | | 2,000 | | | | 1,969,226 | |
| | | |
Series 2018-2A, Class D, 5.726%, (3 mo. USD LIBOR + 5.60%), 7/16/31(1)(2) | | | | | 1,000 | | | | 983,740 | |
| | | |
Series 2019-1A, Class D, 7.125%, (3 mo. USD LIBOR + 7.00%), 11/14/32(1)(2) | | | | | 2,000 | | | | 2,001,846 | |
| | | |
Regatta IX Funding, Ltd., Series 2017-1A, Class E, 6.134%, (3 mo. USD LIBOR + 6.00%), 4/17/30(1)(2) | | | | | 450 | | | | 445,447 | |
| | | |
Regatta XII Funding, Ltd.: | | | | | | | | | | |
| | | |
Series 2019-1A, Class E, 6.976%, (3 mo. USD LIBOR + 6.85%), 10/15/32(1)(2) | | | | | 2,000 | | | | 2,000,010 | |
| | | |
Series 2019-1A, Class ER, 10/15/32(1)(3) | | | | | 2,000 | | | | 2,000,000 | |
| | | |
Regatta XIII Funding, Ltd., Series 2018-2A, Class D, 6.076%, (3 mo. USD LIBOR + 5.95%), 7/15/31(1)(2) | | | | | 2,000 | | | | 1,907,614 | |
| | | |
Regatta XIV Funding, Ltd., Series 2018-3A, Class E, 6.075%, (3 mo. USD LIBOR + 5.95%), 10/25/31(1)(2) | | | | | 1,000 | | | | 963,789 | |
| | | |
Regatta XVI Funding, Ltd., Series 2019-2A, Class E, 7.126%, (3 mo. USD LIBOR + 7.00%), 1/15/33(1)(2) | | | | | 1,800 | | | | 1,801,791 | |
| | | |
Southwick Park CLO, LLC, Series 2019-4A, Class E, 6.834%, (3 mo. USD LIBOR + 6.70%), 7/20/32(1)(2) | | | | | 6,000 | | | | 6,001,668 | |
| | | |
Vibrant CLO IX, Ltd., Series 2018-9A, Class D, 6.384%, (3 mo. USD LIBOR + 6.25%), 7/20/31(1)(2) | | | | | 1,000 | | | | 929,992 | |
| | | |
Vibrant CLO XI, Ltd., Series 2019-11A, Class D, 6.904%, (3 mo. USD LIBOR + 6.77%), 7/20/32(1)(2) | | | | | 575 | | | | 545,281 | |
| | | |
Voya CLO, Ltd.: | | | | | | | | | | |
| | | |
Series 2015-3A, Class DR, 6.334%, (3 mo. USD LIBOR + 6.20%), 10/20/31(1)(2) | | | | | 3,000 | | | | 2,738,094 | |
| | | |
Series 2016-3A, Class DR, 6.214%, (3 mo. USD LIBOR + 6.08%), 10/18/31(1)(2) | | | | | 1,400 | | | | 1,289,116 | |
| | | |
Series 2019-4A, Class E, 7.606%, (3 mo. USD LIBOR + 7.48%), 1/15/33(1)(2) | | | | | 3,000 | | | | 3,010,008 | |
| | | |
Wellfleet CLO, Ltd., Series 2020-1A, Class D, 7.366%, (3 mo. USD LIBOR + 7.24%), 4/15/33(1)(2) | | | | | 2,000 | | | | 2,003,674 | |
| | |
Total Asset-Backed Securities (identified cost $112,457,193) | | | | | | $ | 112,139,094 | |
| | | | | | | | | | |
Closed-End Funds — 1.7% | |
Security | | | | Shares | | | Value | |
| | | |
BlackRock Corporate High Yield Fund, Inc. | | | | | 2,188,579 | | | $ | 26,700,664 | |
| |
Total Closed-End Funds (identified cost $26,361,519) | | | $ | 26,700,664 | |
|
Collateralized Mortgage Obligations — 8.6% | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Federal Home Loan Mortgage Corp.: | | | | | | | | | | |
| | | |
Series 24, Class J, 6.25%, 11/25/23 | | | | $ | 62 | | | $ | 64,508 | |
| | | |
Series 1497, Class K, 7.00%, 4/15/23 | | | | | 43 | | | | 44,372 | |
| | | |
Series 1529, Class Z, 7.00%, 6/15/23 | | | | | 90 | | | | 93,382 | |
| | | |
Series 1620, Class Z, 6.00%, 11/15/23 | | | | | 55 | | | | 57,243 | |
| | | |
Series 1677, Class Z, 7.50%, 7/15/23 | | | | | 42 | | | | 44,105 | |
| | | |
Series 1702, Class PZ, 6.50%, 3/15/24 | | | | | 617 | | | | 646,348 | |
| | | |
Series 2113, Class QG, 6.00%, 1/15/29 | | | | | 255 | | | | 280,554 | |
| | | |
Series 2122, Class K, 6.00%, 2/15/29 | | | | | 48 | | | | 52,940 | |
| | | |
Series 2130, Class K, 6.00%, 3/15/29 | | | | | 33 | | | | 35,868 | |
| | | |
Series 2167, Class BZ, 7.00%, 6/15/29 | | | | | 38 | | | | 42,008 | |
| | | |
Series 2182, Class ZB, 8.00%, 9/15/29 | | | | | 399 | | | | 448,455 | |
| | | |
Series 2198, Class ZA, 8.50%, 11/15/29 | | | | | 415 | | | | 464,072 | |
| | | |
Series 2458, Class ZB, 7.00%, 6/15/32 | | | | | 486 | | | | 560,446 | |
| | | |
Series 3762, Class SH, 9.828%, (10.00% - 1 mo. USD LIBOR x 2.00), 11/15/40(4) | | | | | 516 | | | | 645,948 | |
| | | |
Series 4097, Class PE, 3.00%, 11/15/40 | | | | | 62 | | | | 62,219 | |
| | | |
Series 4273, Class PU, 4.00%, 11/15/43 | | | | | 2,263 | | | | 2,434,812 | |
| | | |
Series 4273, Class SP, 11.771%, (12.00% - 1 mo. USD LIBOR x 2.67), 11/15/43(4) | | | | | 503 | | | | 709,929 | |
| | | |
Series 4452, Class ZJ, 3.00%, 11/15/44 | | | | | 3,281 | | | | 3,286,590 | |
| | | |
Series 4594, Class FM, 1.086%, (1 mo. USD LIBOR + 1.00%), 6/15/46(2) | | | | | 29 | | | | 28,582 | |
| | | |
Series 4608, Class TV, 3.50%, 1/15/55 | | | | | 2,802 | | | | 2,812,849 | |
| | | |
Series 4637, Class CU, 3.00%, 8/15/44 | | | | | 430 | | | | 430,757 | |
| | | |
Series 4637, Class QF, 1.086%, (1 mo. USD LIBOR + 1.00%), 4/15/44(2) | | | | | 513 | | | | 509,956 | |
| | | |
Series 4678, Class PC, 3.00%, 1/15/46 | | | | | 4,536 | | | | 4,685,365 | |
| | | |
Series 5028, Class TZ, 2.00%, 10/25/50 | | | | | 3,477 | | | | 3,414,326 | |
| | | |
Series 5035, Class AZ, 2.00%, 11/25/50 | | | | | 12,485 | | | | 12,275,634 | |
| | | |
Series 5083, Class SK, 3.80%, (3.867% - 30-day average SOFR x 1.33), 3/25/51(4) | | | | | 2,753 | | | | 2,726,675 | |
| | | |
Series 5096, Class QZ, 3.00%, 4/25/51 | | | | | 139 | | | | 138,841 | |
| | | |
Interest Only:(5) | | | | | | | | |
| | | |
Series 284, Class S6, 6.016%, (6.10% - 1 mo. USD LIBOR), 10/15/42(4) | | | | | 1,666 | | | | 336,245 | |
| | | |
Series 362, Class C7, 3.50%, 9/15/47 | | | | | 6,914 | | | | 804,816 | |
| | | |
Series 362, Class C11, 4.00%, 12/15/47 | | | | | 6,809 | | | | 846,846 | |
| | | |
Series 4067, Class JI, 3.50%, 6/15/27 | | | | | 1,391 | | | | 100,628 | |
| | | | |
| | 6 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Interest Only: (continued) | | | | | | | | | |
| | | |
Series 4070, Class S, 6.016%, (6.10% - 1 mo. USD LIBOR), 6/15/32(4) | | | | | | $ | 3,664 | | | $ | 567,530 | |
| | | |
Series 4088, Class EI, 3.50%, 9/15/41 | | | | | | | 1,068 | | | | 10,294 | |
| | | |
Series 4094, Class CS, 5.916%, (6.00% - 1 mo. USD LIBOR), 8/15/42(4) | | | | | | | 1,134 | | | | 244,385 | |
| | | |
Series 4095, Class HS, 6.016%, (6.10% - 1 mo. USD LIBOR), 7/15/32(4) | | | | | | | 943 | | | | 137,513 | |
| | | |
Series 4109, Class ES, 6.066%, (6.15% - 1 mo. USD LIBOR), 12/15/41(4) | | | | | | | 83 | | | | 19,417 | |
| | | |
Series 4110, Class SA, 5.566%, (5.65% - 1 mo. USD LIBOR), 9/15/42(4) | | | | | | | 2,952 | | | | 546,658 | |
| | | |
Series 4149, Class S, 6.166%, (6.25% - 1 mo. USD LIBOR), 1/15/33(4) | | | | | | | 1,958 | | | | 390,598 | |
| | | |
Series 4188, Class AI, 3.50%, 4/15/28 | | | | | | | 1,082 | | | | 69,336 | |
| | | |
Series 4203, Class QS, 6.166%, (6.25% - 1 mo. USD LIBOR), 5/15/43(4) | | | | | | | 3,262 | | | | 504,243 | |
| | | |
Series 4408, Class IP, 3.50%, 4/15/44 | | | | | | | 2,187 | | | | 158,383 | |
| | | |
Series 4435, Class BI, 3.50%, 7/15/44 | | | | | | | 5,116 | | | | 548,422 | |
| | | |
Series 4629, Class QI, 3.50%, 11/15/46 | | | | | | | 2,375 | | | | 261,408 | |
| | | |
Series 4644, Class TI, 3.50%, 1/15/45 | | | | | | | 2,443 | | | | 192,902 | |
| | | |
Series 4653, Class PI, 3.50%, 7/15/44 | | | | | | | 273 | | | | 1,291 | |
| | | |
Series 4667, Class PI, 3.50%, 5/15/42 | | | | | | | 1,723 | | | | 23,031 | |
| | | |
Series 4676, Class DI, 4.00%, 7/15/44 | | | | | | | 1,408 | | | | 9,525 | |
| | | |
Series 4744, Class IO, 4.00%, 11/15/47 | | | | | | | 3,497 | | | | 464,623 | |
| | | |
Series 4749, Class IL, 4.00%, 12/15/47 | | | | | | | 1,534 | | | | 204,321 | |
| | | |
Series 4767, Class IM, 4.00%, 5/15/45 | | | | | | | 964 | | | | 9,471 | |
| | | |
Series 4793, Class SD, 6.116%, (6.20% - 1 mo. USD LIBOR), 6/15/48(4) | | | | | | | 7,706 | | | | 1,043,863 | |
| | | |
Series 4966, Class SY, 5.964%, (6.05% - 1 mo. USD LIBOR), 4/25/50(4) | | | | | | | 17,658 | | | | 2,958,938 | |
| | | |
Principal Only:(6) | | | | | | | | | |
| | | |
Series 242, Class PO, 0.00%, 11/15/36 | | | | | | | 2,710 | | | | 2,484,952 | |
| | | |
Series 259, Class PO, 0.00%, 4/15/39 | | | | | | | 1,673 | | | | 1,536,304 | |
| | | |
Series 3606, Class PO, 0.00%, 12/15/39 | | | | | | | 1,816 | | | | 1,620,822 | |
| | | |
Series 4417, Class KO, 0.00%, 12/15/43 | | | | | | | 248 | | | | 211,624 | |
| | | |
Series 4478, Class PO, 0.00%, 5/15/45 | | | | | | | 922 | | | | 834,614 | |
| | | |
Series 4754, Class JO, 0.00%, 4/15/44 | | | | | | | 96 | | | | 96,018 | |
| | | |
| | | | | | | | | | $ | 54,235,805 | |
| | | |
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class M2, 3.836%, (1 mo. USD LIBOR + 3.75%), 8/25/50(1)(2) | | | | | | $ | 3,822 | | | $ | 3,865,483 | |
| | | |
| | | | | | | | | | $ | 3,865,483 | |
|
Federal National Mortgage Association: | |
| | | |
Series G92-46, Class Z, 7.00%, 8/25/22 | | | | | | $ | 6 | | | $ | 6,341 | |
| | | |
Series G92-60, Class Z, 7.00%, 10/25/22 | | | | | | | 9 | | | | 9,258 | |
| | | | | | | | | | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
|
Federal National Mortgage Association: (continued) | |
| | | |
Series G93-35, Class ZQ, 6.50%, 11/25/23 | | | | $ | 709 | | | $ | 740,734 | |
| | | |
Series G93-40, Class H, 6.40%, 12/25/23 | | | | | 148 | | | | 155,166 | |
| | | |
Series 1992-77, Class ZA, 8.00%, 5/25/22 | | | | | 12 | | | | 12,677 | |
| | | |
Series 1992-103, Class Z, 7.50%, 6/25/22 | | | | | 1 | | | | 1,519 | |
| | | |
Series 1992-113, Class Z, 7.50%, 7/25/22 | | | | | 5 | | | | 5,552 | |
| | | |
Series 1992-185, Class ZB, 7.00%, 10/25/22 | | | | | 9 | | | | 9,139 | |
| | | |
Series 1993-16, Class Z, 7.50%, 2/25/23 | | | | | 28 | | | | 29,473 | |
| | | |
Series 1993-22, Class PM, 7.40%, 2/25/23 | | | | | 23 | | | | 24,004 | |
| | | |
Series 1993-25, Class J, 7.50%, 3/25/23 | | | | | 37 | | | | 38,776 | |
| | | |
Series 1993-30, Class PZ, 7.50%, 3/25/23 | | | | | 67 | | | | 69,571 | |
| | | |
Series 1993-42, Class ZQ, 6.75%, 4/25/23 | | | | | 91 | | | | 93,967 | |
| | | |
Series 1993-56, Class PZ, 7.00%, 5/25/23 | | | | | 17 | | | | 17,643 | |
| | | |
Series 1993-156, Class ZB, 7.00%, 9/25/23 | | | | | 21 | | | | 22,129 | |
| | | |
Series 1994-45, Class Z, 6.50%, 2/25/24 | | | | | 153 | | | | 159,895 | |
| | | |
Series 1994-89, Class ZQ, 8.00%, 7/25/24 | | | | | 153 | | | | 164,058 | |
| | | |
Series 1996-57, Class Z, 7.00%, 12/25/26 | | | | | 199 | | | | 216,145 | |
| | | |
Series 1997-77, Class Z, 7.00%, 11/18/27 | | | | | 109 | | | | 121,912 | |
| | | |
Series 1998-44, Class ZA, 6.50%, 7/20/28 | | | | | 113 | | | | 126,646 | |
| | | |
Series 1999-45, Class ZG, 6.50%, 9/25/29 | | | | | 33 | | | | 37,429 | |
| | | |
Series 2000-22, Class PN, 6.00%, 7/25/30 | | | | | 404 | | | | 446,930 | |
| | | |
Series 2002-1, Class G, 7.00%, 7/25/23 | | | | | 24 | | | | 25,087 | |
| | | |
Series 2002-21, Class PE, 6.50%, 4/25/32 | | | | | 295 | | | | 340,251 | |
| | | |
Series 2005-75, Class CS, 23.856%, (24.20% - 1 mo. USD LIBOR x 4.00), 9/25/35(4) | | | | | 749 | | | | 1,274,778 | |
| | | |
Series 2007-74, Class AC, 5.00%, 8/25/37 | | | | | 3,114 | | | | 3,452,729 | |
| | | |
Series 2011-49, Class NT, 6.00%, (66.00% - 1 mo. USD LIBOR x 10.00, Cap 6.00%), 6/25/41(4) | | | | | 328 | | | | 361,027 | |
| | | |
Series 2011-109, Class PE, 3.00%, 8/25/41 | | | | | 969 | | | | 983,220 | |
| | | |
Series 2012-134, Class ZT, 2.00%, 12/25/42 | | | | | 1,759 | | | | 1,692,370 | |
| | | |
Series 2013-6, Class TA, 1.50%, 1/25/43 | | | | | 2,193 | | | | 2,205,368 | |
| | | |
Series 2013-52, Class MD, 1.25%, 6/25/43 | | | | | 2,140 | | | | 2,116,097 | |
| | | |
Series 2013-67, Class NF, 1.086%, (1 mo. USD LIBOR + 1.00%), 7/25/43(2) | | | | | 1,271 | | | | 1,289,229 | |
| | | |
Series 2014-64, Class PA, 3.00%, 3/25/44 | | | | | 619 | | | | 626,782 | |
| | | |
Series 2017-15, Class LE, 3.00%, 6/25/46 | | | | | 1,841 | | | | 1,867,510 | |
| | | |
Series 2017-48, Class LG, 2.75%, 5/25/47 | | | | | 2,715 | | | | 2,790,426 | |
| | | |
Series 2018-18, Class QD, 4.50%, 5/25/45 | | | | | 3,383 | | | | 3,407,841 | |
| | | |
Interest Only:(5) | | | | | | | | |
| | | |
Series 2011-101, Class IC, 3.50%, 10/25/26 | | | | | 3,472 | | | | 192,960 | |
| | | |
Series 2011-101, Class IE, 3.50%, 10/25/26 | | | | | 1,111 | | | | 59,087 | |
| | | |
Series 2012-33, Class CI, 3.50%, 3/25/27 | | | | | 2,209 | | | | 125,349 | |
| | | |
Series 2012-94, Class KS, 6.564%, (6.65% - 1 mo. USD LIBOR), 5/25/38(4) | | | | | 933 | | | | 21,267 | |
| | | |
Series 2012-97, Class PS, 6.064%, (6.15% - 1 mo. USD LIBOR), 3/25/41(4) | | | | | 565 | | | | 6,024 | |
| | | | |
| | 7 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Interest Only: (continued) | | | | | | | | | |
| | | |
Series 2012-118, Class IN, 3.50%, 11/25/42 | | | | | | $ | 4,354 | | | $ | 681,851 | |
| | | |
Series 2012-124, Class IO, 1.403%, 11/25/42(7) | | | | | | | 2,315 | | | | 126,387 | |
| | | |
Series 2012-125, Class IG, 3.50%, 11/25/42 | | | | | | | 13,910 | | | | 2,436,387 | |
| | | |
Series 2012-150, Class SK, 6.064%, (6.15% - 1 mo. USD LIBOR), 1/25/43(4) | | | | | | | 2,735 | | | | 508,750 | |
| | | |
Series 2013-12, Class SP, 5.564%, (5.65% - 1 mo. USD LIBOR), 11/25/41(4) | | | | | | | 636 | | | | 50,657 | |
| | | |
Series 2013-15, Class DS, 6.114%, (6.20% - 1 mo. USD LIBOR), 3/25/33(4) | | | | | | | 5,939 | | | | 987,054 | |
| | | |
Series 2013-16, Class SY, 6.064%, (6.15% - 1 mo. USD LIBOR), 3/25/43(4) | | | | | | | 1,310 | | | | 258,136 | |
| | | |
Series 2013-54, Class HS, 6.214%, (6.30% - 1 mo. USD LIBOR), 10/25/41(4) | | | | | | | 659 | | | | 27,332 | |
| | | |
Series 2013-64, Class PS, 6.164%, (6.25% - 1 mo. USD LIBOR), 4/25/43(4) | | | | | | | 1,831 | | | | 274,544 | |
| | | |
Series 2013-75, Class SC, 6.164%, (6.25% - 1 mo. USD LIBOR), 7/25/42(4) | | | | | | | 3,131 | | | | 272,314 | |
| | | |
Series 2014-32, Class EI, 4.00%, 6/25/44 | | | | | | | 555 | | | | 67,885 | |
| | | |
Series 2014-55, Class IN, 3.50%, 7/25/44 | | | | | | | 1,190 | | | | 223,871 | |
| | | |
Series 2014-89, Class IO, 3.50%, 1/25/45 | | | | | | | 1,434 | | | | 220,271 | |
| | | |
Series 2015-17, Class SA, 6.114%, (6.20% - 1 mo. USD LIBOR), 11/25/43(4) | | | | | | | 335 | | | | 3,357 | |
| | | |
Series 2015-52, Class MI, 3.50%, 7/25/45 | | | | | | | 1,420 | | | | 240,773 | |
| | | |
Series 2017-46, Class NI, 3.00%, 8/25/42 | | | | | | | 854 | | | | 2,950 | |
| | | |
Series 2018-21, Class IO, 3.00%, 4/25/48 | | | | | | | 6,074 | | | | 669,244 | |
| | | |
Series 2019-1, Class AS, 5.914%, (6.00% - 1 mo. USD LIBOR), 2/25/49(4) | | | | | | | 9,632 | | | | 1,196,205 | |
| | | |
Series 2019-33, Class SK, 5.964%, (6.05% - 1 mo. USD LIBOR), 7/25/49(4) | | | | | | | 8,409 | | | | 926,006 | |
| | | |
Series 2020-23, Class SP, 5.964%, (6.05% - 1 mo. USD LIBOR), 2/25/50(4) | | | | | | | 5,795 | | | | 960,318 | |
| | | |
Principal Only:(6) | | | | | | | | | | | | |
| | | |
Series 379, Class 1, 0.00%, 5/25/37 | | | | | | | 1,699 | | | | 1,541,946 | |
| | | |
Series 2006-8, Class WQ, 0.00%, 3/25/36 | | | | | | | 2,752 | | | | 2,420,780 | |
| | | |
| | | | | | | | | | $ | 39,443,384 | |
|
Government National Mortgage Association: | |
| | | |
Series 2011-156, Class GA, 2.00%, 12/16/41 | | | | | | $ | 34 | | | $ | 33,176 | |
| | | |
Series 2017-121, Class DF, 0.587%, (1 mo. USD LIBOR + 0.50%), 8/20/47(2) | | | | | | | 5,426 | | | | 5,504,257 | |
| | | |
Series 2017-137, Class AF, 0.587%, (1 mo. USD LIBOR + 0.50%), 9/20/47(2) | | | | | | | 2,942 | | | | 2,981,492 | |
| | | |
Series 2018-6, Class JZ, 4.00%, 1/20/48 | | | | | | | 4,805 | | | | 6,101,847 | |
| | | |
Series 2021-160, Class NZ, 3.00%, 9/20/51 | | | | | | | 10,000 | | | | 9,965,835 | |
| | | |
Series 2021-165, Class MZ, 2.50%, 9/20/51 | | | | | | | 10,000 | | | | 9,846,130 | |
| | | |
Interest Only:(5) | | | | | | | | | |
| | | |
Series 2017-104, Class SD, 6.113%, (6.20% - 1 mo. USD LIBOR), 7/20/47(4) | | | | | | | 3,847 | | | | 638,725 | |
| | | | | | | | | | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Interest Only: (continued) | | | | | | | | |
| | | |
Series 2020-154, Class PI, 2.50%, 10/20/50 | | | | $ | 15,964 | | | $ | 1,155,455 | |
| | | |
Series 2020-176, Class HI, 2.50%, 11/20/50 | | | | | 18,917 | | | | 1,467,651 | |
| |
| | | $ | 37,694,568 | |
| |
Total Collateralized Mortgage Obligations (identified cost $171,119,614) | | | $ | 135,239,240 | |
|
Commercial Mortgage-Backed Securities — 5.1% | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
|
BAMLL Commercial Mortgage Securities Trust: | |
| | | |
Series 2019-BPR, Class ENM, 3.843%, 11/5/32(1)(7) | | | | $ | 795 | | | $ | 766,323 | |
| | | |
Series 2019-BPR, Class FNM, 3.843%, 11/5/32(1)(7) | | | | | 3,205 | | | | 2,746,929 | |
|
CFCRE Commercial Mortgage Trust: | |
| | | |
Series 2016-C3, Class D, 3.052%, 1/10/48(1)(7) | | | | | 3,500 | | | | 2,731,816 | |
| | | |
Series 2016-C7, Class D, 4.555%, 12/10/54(1)(7) | | | | | 1,675 | | | | 1,523,826 | |
| | | |
CGMS Commercial Mortgage Trust: | | | | | | | | | | |
| | | |
Series 2015-P1, Class D, 3.225%, 9/15/48(1) | | | | | 1,000 | | | | 953,899 | |
| | | |
Series 2017-MDRB, Class C, 2.584%, (1 mo. USD LIBOR + 2.50%), 7/15/30(1)(2) | | | | | 5,000 | | | | 4,919,333 | |
|
COMM Mortgage Trust: | |
| | | |
Series 2013-CR11, Class D, 5.285%, 8/10/50(1)(7) | | | | | 7,400 | | | | 7,365,753 | |
| | | |
Series 2015-CR22, Class D, 4.244%, 3/10/48(1)(7) | | | | | 4,100 | | | | 4,148,095 | |
| | | |
Credit Suisse Mortgage Trust: | | | | | | | | | | |
| | | |
Series 2016-NXSR, Class C, 4.354%,12/15/49(7) | | | | | 2,770 | | | | 2,481,862 | |
| | | |
Series 2016-NXSR, Class D, 4.354%, 12/15/49(1)(7) | | | | | 3,000 | | | | 2,454,264 | |
| | | |
Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust: | | | | | | | | |
| | | |
Series 2019-01, Class M7, 1.786%, (1 mo. USD LIBOR + 1.70%), 10/15/49(1)(2) | | | | | 158 | | | | 158,188 | |
| | | |
Series 2019-01, Class M10, 3.336%, (1 mo. USD LIBOR + 3.25%), 10/15/49(1)(2) | | | | | 120 | | | | 121,384 | |
| | | |
Series 2020-01, Class M10, 3.836%, (1 mo. USD LIBOR + 3.75%), 3/25/50(1)(2) | | | | | 2,000 | | | | 2,079,935 | |
|
JPMBB Commercial Mortgage Securities Trust: | |
| | | |
Series 2014-C22, Class D, 4.553%, 9/15/47(1)(7) | | | | | 5,276 | | | | 4,099,627 | |
| | | |
Series 2014-C25, Class D, 3.941%, 11/15/47(1)(7) | | | | | 4,400 | | | | 3,556,870 | |
| | | |
Series 2015-C29, Class D, 3.838%, 5/15/48(7) | | | | | 2,000 | | | | 1,657,081 | |
|
JPMorgan Chase Commercial Mortgage Securities Trust: | |
| | | |
Series 2011-C5, Class D, 5.752%, 8/15/46(1)(7) | | | | | 2,983 | | | | 2,963,282 | |
| | | |
Series 2013-C13, Class D, 4.077%, 1/15/46(1)(7) | | | | | 3,000 | | | | 3,060,200 | |
| | | |
Series 2013-C16, Class D, 5.189%, 12/15/46(1)(7) | | | | | 3,500 | | | | 3,611,420 | |
| | | |
Series 2014-DSTY, Class B, 3.771%, 6/10/27(1) | | | | | 2,600 | | | | 791,700 | |
| | | | |
| | 8 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
|
Morgan Stanley Bank of America Merrill Lynch Trust: | |
| | | |
Series 2015-C23, Class D, 4.282%, 7/15/50(1)(7)(8) | | | | $ | 2,000 | | | $ | 2,022,066 | |
| | | |
Series 2016-C29, Class D, 3.00%, 5/15/49(1)(8) | | | | | 3,577 | | | | 3,132,772 | |
| | | |
Series 2016-C32, Class D, 3.396%, 12/15/49(1)(7)(8) | | | | | 1,600 | | | | 1,329,998 | |
|
Morgan Stanley Capital I Trust: | |
| | | |
Series 2016-UBS12, Class D, 3.312%, 12/15/49(1)(8) | | | | | 4,489 | | | | 2,596,166 | |
| | | |
Series 2017-CLS, Class A, 0.784%, (1 mo. USD LIBOR + 0.70%), 11/15/34(1)(2)(8) | | | | | 2,000 | | | | 2,000,634 | |
| | | |
Series 2019-BPR, Class C, 3.134%, (1 mo. USD LIBOR + 3.05%), 5/15/36(1)(2)(8) | | | | | 1,845 | | | | 1,663,714 | |
| | | |
UBS Commercial Mortgage Trust, Series 2012-C1, Class D, 5.734%, 5/10/45(1)(7) | | | | | 3,000 | | | | 2,858,542 | |
| | | |
UBS-Barclays Commercial Mortgage Trust, Series 2013-C6, Class D, 4.448%, 4/10/46(1)(7) | | | | | 4,437 | | | | 3,911,198 | |
|
Wells Fargo Commercial Mortgage Trust: | |
| | | |
Series 2013-LC12, Class D, 4.443%, 7/15/46(1)(7) | | | | | 3,000 | | | | 1,557,345 | |
| | | |
Series 2015-C31, Class D, 3.852%, 11/15/48 | | | | | 2,475 | | | | 2,301,434 | |
| | | |
Series 2015-LC22, Class C, 4.709%, 9/15/58(7) | | | | | 1,250 | | | | 1,323,066 | |
| | | |
Series 2016-C35, Class D, 3.142%, 7/15/48(1) | | | | | 1,850 | | | | 1,587,841 | |
| | | |
Series 2016-C36, Class D, 2.942%, 11/15/59(1) | | | | | 1,500 | | | | 1,149,420 | |
| |
Total Commercial Mortgage-Backed Securities (identified cost $82,782,139) | | | $ | 79,625,983 | |
|
U.S. Government Agency Mortgage-Backed Securities — 24.8% | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
Federal Home Loan Mortgage Corp.: | | | | | | | | |
| | | |
3.00%, with maturity at 2050 | | | | $ | 4,667 | | | $ | 4,935,738 | |
| | | |
4.50%, with maturity at 2048 | | | | | 333 | | | | 356,444 | |
| | | |
5.50%, with maturity at 2032 | | | | | 338 | | | | 380,340 | |
| | | |
6.50%, with various maturities to 2036 | | | | | 2,467 | | | | 2,813,572 | |
| | | |
7.00%, with various maturities to 2036 | | | | | 2,214 | | | | 2,546,237 | |
| | | |
7.13%, with maturity at 2023 | | | | | 7 | | | | 7,747 | |
| | | |
7.50%, with various maturities to 2035 | | | | | 1,380 | | | | 1,527,796 | |
| | | |
8.00%, with various maturities to 2030 | | | | | 283 | | | | 290,658 | |
| | | |
8.50%, with maturity at 2022 | | | | | 19 | | | | 19,954 | |
| | | |
9.00%, with various maturities to 2031 | | | | | 24 | | | | 26,852 | |
| |
| | | $ | 12,905,338 | |
|
Federal National Mortgage Association: | |
| | | |
1.77%, (6 mo. USD LIBOR + 1.54%), with maturity at 2037(9) | | | | $ | 610 | | | $ | 634,508 | |
| | | |
2.357%, (1 yr. CMT + 2.265%), with maturity at 2036(9) | | | | | 3,789 | | | | 3,988,833 | |
| | | | | | | | | | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
|
Federal National Mortgage Association: (continued) | |
| | | |
2.50%, 30-Year, TBA(10) | | | | $ | 164,683 | | | $ | 169,102,744 | |
| | | |
2.526%, (COF + 1.25%), with maturity at 2036(9) | | | | | 548 | | | | 567,337 | |
| | | |
4.50%, with maturity at 2042 | | | | | 4,285 | | | | 4,782,054 | |
| | | |
5.00%, with various maturities to 2040 | | | | | 4,263 | | | | 4,789,216 | |
| | | |
5.50%, with various maturities to 2033 | | | | | 475 | | | | 541,272 | |
| | | |
6.00%, with various maturities to 2029 | | | | | 566 | | | | 600,575 | |
| | | |
6.329%, (COF + 2.00%, Floor 6.329%), with maturity at 2032(9) | | | | | 908 | | | | 1,013,284 | |
| | | |
6.50%, with various maturities to 2036 | | | | | 10,190 | | | | 11,630,443 | |
| | | |
6.75%, with maturity at 2023 | | | | | 12 | | | | 12,343 | |
| | | |
7.00%, with various maturities to 2037 | | | | | 2,498 | | | | 2,857,810 | |
| | | |
7.50%, with various maturities to 2035 | | | | | 1,145 | | | | 1,326,635 | |
| | | |
7.891%, with maturity at 2027(7) | | | | | 90 | | | | 97,327 | |
| | | |
8.00%, with various maturities to 2027 | | | | | 136 | | | | 145,825 | |
| | | |
8.203%, with maturity at 2028(7) | | | | | 19 | | | | 21,325 | |
| | | |
8.23%, with maturity at 2024(7) | | | | | 3 | | | | 2,687 | |
| | | |
8.275%, with maturity at 2029(7) | | | | | 23 | | | | 24,664 | |
| | | |
8.29%, with maturity at 2027(7) | | | | | 37 | | | | 40,084 | |
| | | |
8.50%, with various maturities to 2037 | | | | | 324 | | | | 367,384 | |
| | | |
9.00%, with maturity at 2032 | | | | | 325 | | | | 359,539 | |
| | | |
9.50%, with various maturities to 2030 | | | | | 72 | | | | 80,245 | |
| |
| | | $ | 202,986,134 | |
|
Government National Mortgage Association: | |
| | | |
2.50%, with various maturities to 2051 | | | | $ | 93,459 | | | $ | 96,630,889 | |
| | | |
3.00%, 30-Year, TBA(10) | | | | | 20,000 | | | | 20,827,575 | |
| | | |
3.00%, with various maturities to 2051 | | | | | 44,456 | | | | 46,612,231 | |
| | | |
4.00%, with maturity at 2049 | | | | | 719 | | | | 768,932 | |
| | | |
4.50%, with maturity at 2047 | | | | | 1,413 | | | | 1,592,338 | |
| | | |
6.00%, with maturity at 2024 | | | | | 119 | | | | 123,279 | |
| | | |
6.50%, with maturity at 2024 | | | | | 684 | | | | 715,735 | |
| | | |
7.00%, with maturity at 2026 | | | | | 95 | | | | 103,983 | |
| | | |
7.50%, with various maturities to 2032 | | | | | 1,492 | | | | 1,647,721 | |
| | | |
8.00%, with various maturities to 2034 | | | | | 1,410 | | | | 1,582,969 | |
| | | |
9.00%, with various maturities to 2025 | | | | | 147 | | | | 160,012 | |
| |
| | | $ | 170,765,664 | |
| | |
Total U.S. Government Agency Mortgage-Backed Securities (identified cost $385,280,890) | | | | | | $ | 386,657,136 | |
|
Common Stocks — 0.7% | |
Security | | | | Shares | | | Value | |
|
Aerospace and Defense — 0.0%(11) | |
| | | |
IAP Global Services, LLC(12)(13)(14) | | | | | 31 | | | $ | 151,876 | |
| |
| | | $ | 151,876 | |
| | | | |
| | 9 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Shares | | | Value | |
|
Automotive — 0.0%(11) | |
| | | |
Dayco Products, LLC(12)(13) | | | | | 27,250 | | | $ | 204,375 | |
| |
| | | $ | 204,375 | |
|
Containers and Glass Products — 0.1% | |
| | | |
LG Newco Holdco, Inc.(12)(13) | | | | | 166,175 | | | $ | 740,858 | |
| |
| | | $ | 740,858 | |
|
Electronics / Electrical — 0.1% | |
| | | |
Skillsoft Corp.(12)(13)(14)(15) | | | | | 143,062 | | | $ | 1,660,979 | |
| |
| | | $ | 1,660,979 | |
|
Health Care — 0.0%(11) | |
| | | |
Akorn Holding Company, LLC, Class A(12)(13) | | | | | 42,374 | | | $ | 497,895 | |
| |
| | | $ | 497,895 | |
|
Nonferrous Metals / Minerals — 0.0%(11) | |
| | | |
ACNR Holdings, Inc., Class A(12)(13) | | | | | 3,818 | | | $ | 148,425 | |
| |
| | | $ | 148,425 | |
|
Oil and Gas — 0.1% | |
| | | |
AFG Holdings, Inc.(12)(13)(14) | | | | | 29,751 | | | $ | 232,058 | |
| | | |
Extraction Oil & Gas, Inc.(12) | | | | | 2,089 | | | | 117,924 | |
| | | |
McDermott International, Ltd.(12)(13) | | | | | 93,940 | | | | 44,621 | |
| | | |
Nine Point Energy Holdings, Inc.(12)(14)(15) | | | | | 29,787 | | | | 0 | |
| | | |
QuarterNorth Energy, Inc.(12)(13) | | | | | 13,232 | | | | 1,392,668 | |
| | | |
RDV Resources, Inc., Class A(12)(13) | | | | | 27,724 | | | | 4,852 | |
| | | |
Sunrise Oil & Gas, Inc., Class A(12)(13) | | | | | 15,647 | | | | 46,941 | |
| |
| | | $ | 1,839,064 | |
|
Publishing — 0.0%(11) | |
| | | |
Tweddle Group, Inc.(12)(13)(14) | | | | | 5,433 | | | $ | 70,031 | |
| |
| | | $ | 70,031 | |
|
Radio and Television — 0.1% | |
| | | |
Clear Channel Outdoor Holdings, Inc.(12)(13) | | | | | 74,443 | | | $ | 201,741 | |
| | | |
Cumulus Media, Inc., Class A(12)(13) | | | | | 50,522 | | | | 618,894 | |
| | | |
iHeartMedia, Inc., Class A(12)(13) | | | | | 31,657 | | | | 792,058 | |
| |
| | | $ | 1,612,693 | |
|
Retailers (Except Food and Drug) — 0.0%(11) | |
| | | |
David’s Bridal, LLC(12)(13)(14) | | | | | 40,851 | | | $ | 0 | |
| | | |
Phillips Pet Holding Corp.(12)(13)(14) | | | | | 582 | | | | 225,882 | |
| |
| | | $ | 225,882 | |
| | | | | | | | | | |
Security | | | | Shares | | | Value | |
|
Surface Transport — 0.2% | |
| | | |
Hertz Global Holdings, Inc. (non-registered)(12)(16) | | | | | 194,852 | | | $ | 2,754,720 | |
| |
| | | $ | 2,754,720 | |
|
Telecommunications — 0.1% | |
| | | |
GEE Acquisition Holdings Corp.(12)(13)(14) | | | | | 37,259 | | | $ | 804,049 | |
| |
| | | $ | 804,049 | |
|
Utilities — 0.0%(11) | |
| | | |
Longview Intermediate Holdings, LLC, Class A(12)(13)(14) | | | | | 10,730 | | | $ | 85,411 | |
| |
| | | $ | 85,411 | |
| |
Total Common Stocks (identified cost $12,869,410) | | | $ | 10,796,258 | |
|
Convertible Bonds — 0.1% | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
|
Semiconductors & Semiconductor Equipment — 0.1% | |
| | | |
ams AG, 0.875%, 9/28/22(17) | | | | $ | 1,000 | | | $ | 981,670 | |
| |
Total Convertible Bonds (identified cost $968,453) | | | $ | 981,670 | |
|
Convertible Preferred Stocks — 0.2% | |
Security | | | | Shares | | | Value | |
|
Containers and Glass Products — 0.2% | |
| | | |
LG Newco Holdco, Inc., Series A, 13.00%(12)(13) | | | | | 25,199 | | | $ | 2,595,546 | |
| |
| | | $ | 2,595,546 | |
|
Oil and Gas — 0.0% | |
| | | |
Nine Point Energy Holdings, Inc., Series A, 12.00%(12)(14)(15) | | | | | 555 | | | $ | 0 | |
| |
| | | $ | 0 | |
| |
Total Convertible Preferred Stocks (identified cost $1,877,973) | | | $ | 2,595,546 | |
| | | | |
| | 10 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Corporate Bonds — 49.7% | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Aerospace and Defense — 1.0% | |
|
Bombardier, Inc.: | |
| | | |
7.125%, 6/15/26(1) | | | | | 736 | | | $ | 773,720 | |
| | | |
7.50%, 12/1/24(1) | | | | | 329 | | | | 342,571 | |
| | | |
7.875%, 4/15/27(1) | | | | | 1,612 | | | | 1,673,216 | |
| | | |
Hexcel Corp., 4.20%, 2/15/27 | | | | | 626 | | | | 684,401 | |
| | | |
Howmet Aerospace, Inc., 6.875%, 5/1/25 | | | | | 36 | | | | 42,166 | |
| | | |
Moog, Inc., 4.25%, 12/15/27(1) | | | | | 955 | | | | 982,456 | |
| | | |
Rolls-Royce PLC: | | | | | | | | | | |
| | | |
5.75%, 10/15/27(1) | | | | | 2,954 | | | | 3,267,862 | |
| | | |
5.75%, 10/15/27(17) | | GBP | | | 300 | | | | 450,285 | |
| | | |
TransDigm UK Holdings PLC, 6.875%, 5/15/26 | | | | | 725 | | | | 763,063 | |
|
TransDigm, Inc.: | |
| | | |
5.50%, 11/15/27 | | | | | 2,052 | | | | 2,111,118 | |
| | | |
6.25%, 3/15/26(1) | | | | | 2,408 | | | | 2,513,350 | |
| | | |
6.375%, 6/15/26 | | | | | 100 | | | | 103,291 | |
| | | |
7.50%, 3/15/27 | | | | | 1,862 | | | | 1,952,772 | |
| |
| | | $ | 15,660,271 | |
|
Agriculture — 0.0%(11) | |
| | | |
Tereos Finance Groupe I S.A., 4.125%, 6/16/23(17) | | EUR | | | 100 | | | $ | 118,214 | |
| |
| | | $ | 118,214 | |
|
Air Transport — 0.9% | |
|
Air Canada: | |
| | | |
3.875%, 8/15/26(1) | | | | | 2,039 | | | $ | 2,060,002 | |
| | | |
4.625%, 8/15/29(1) | | CAD | | | 717 | | | | 567,498 | |
| | | |
Air France-KLM: | | | | | | | | |
| | | |
1.875%, 1/16/25(17) | | EUR | | | 100 | | | | 110,378 | |
| | | |
3.875%, 7/1/26(17) | | EUR | | | 100 | | | | 115,254 | |
|
American Airlines, Inc./AAdvantage Loyalty IP, Ltd.: | |
| | | |
5.50%, 4/20/26(1) | | | | | 3,023 | | | | 3,181,707 | |
| | | |
5.75%, 4/20/29(1) | | | | | 1,952 | | | | 2,105,720 | |
| | | |
Delta Air Lines, Inc./SkyMiles IP, Ltd., 4.75%, 10/20/28(1) | | | | | 1,016 | | | | 1,133,468 | |
|
Deutsche Lufthansa AG: | |
| | | |
3.00%, 5/29/26(17) | | EUR | | | 100 | | | | 119,619 | |
| | | |
3.50%, 7/14/29(17) | | EUR | | | 100 | | | | 119,875 | |
| | | |
Gatwick Airport Finance PLC, 4.375%, 4/7/26(17) | | GBP | | | 100 | | | | 137,039 | |
| | | |
Mileage Plus Holdings, LLC/Mileage Plus Intellectual Property Assets, Ltd., 6.50%, 6/20/27(1) | | | | | 2,418 | | | | 2,632,501 | |
| | | |
United Airlines, Inc.: | | | | | | | | |
| | | |
4.375%, 4/15/26(1) | | | | | 835 | | | | 857,962 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Air Transport (continued) | |
| | | |
United Airlines, Inc.: (continued) | | | | | | | | |
| | | |
4.625%, 4/15/29(1) | | | | | 1,276 | | | $ | 1,320,277 | |
| |
| | | $ | 14,461,300 | |
|
Automotive — 1.8% | |
| | | |
Adient Global Holdings, Ltd., 3.50%, 8/15/24(17) | | EUR | | | 150 | | | $ | 175,481 | |
| | | |
Adler Pelzer Holding GmbH, 4.125%, 4/1/24(17) | | EUR | | | 200 | | | | 220,094 | |
| | | |
Clarios Global, L.P.: | | | | | | | | |
| | | |
4.375%, 5/15/26(17) | | EUR | | | 300 | | | | 360,050 | |
| | | |
6.25%, 5/15/26(1) | | | | | 1,504 | | | | 1,582,057 | |
| | | |
6.75%, 5/15/25(1) | | | | | 432 | | | | 456,300 | |
| | | |
8.50%, 5/15/27(1) | | | | | 1,713 | | | | 1,824,345 | |
| | | |
Cummins, Inc., 1.50%, 9/1/30 | | | | | 1,000 | | | | 956,821 | |
| | | |
Faurecia S.E., 3.75%, 6/15/28(17) | | EUR | | | 260 | | | | 313,880 | |
| | | |
Ford Motor Co.: | | | | | | | | |
| | | |
4.75%, 1/15/43 | | | | | 274 | | | | 287,530 | |
| | | |
7.45%, 7/16/31 | | | | | 1,449 | | | | 1,892,539 | |
| | | |
8.50%, 4/21/23 | | | | | 1,828 | | | | 2,012,975 | |
| | | |
9.00%, 4/22/25 | | | | | 2,833 | | | | 3,410,309 | |
| | | |
9.625%, 4/22/30 | | | | | 1,184 | | | | 1,677,402 | |
| | | |
Frigoglass Finance B.V., 6.875%, 2/12/25(17) | | EUR | | | 300 | | | | 309,593 | |
| | | |
General Motors Co., 5.00%, 4/1/35 | | | | | 495 | | | | 585,283 | |
| | | |
GKN Holdings, Ltd., 4.625%, 5/12/32(17) | | GBP | | | 120 | | | | 174,241 | |
| | | |
Goodyear Tire & Rubber Co. (The): | | | | | | | | |
| | | |
5.00%, 7/15/29(1) | | | | | 2,056 | | | | 2,184,500 | |
| | | |
5.25%, 7/15/31(1) | | | | | 1,657 | | | | 1,766,776 | |
| | | |
IHO Verwaltungs GmbH, 6.375%, (6.375% cash or 7.125% PIK), 5/15/29(1)(18) | | | | | 200 | | | | 218,623 | |
| | | |
Jaguar Land Rover Automotive PLC, 6.875%, 11/15/26(17) | | EUR | | | 100 | | | | 129,319 | |
| | | |
Lithia Motors, Inc.: | | | | | | | | |
| | | |
3.875%, 6/1/29(1) | | | | | 651 | | | | 676,526 | |
| | | |
4.375%, 1/15/31(1) | | | | | 1,171 | | | | 1,251,506 | |
| | | |
4.625%, 12/15/27(1) | | | | | 514 | | | | 541,915 | |
| | | |
Real Hero Merger Sub 2, Inc., 6.25%, 2/1/29(1) | | | | | 1,511 | | | | 1,569,680 | |
| | | |
Renault S.A.: | | | | | | | | |
| | | |
1.25%, 6/24/25(17) | | EUR | | | 300 | | | | 344,702 | |
| | | |
2.375%, 5/25/26(17) | | EUR | | | 100 | | | | 117,285 | |
| | | |
Schaeffler AG, 3.375%, 10/12/28(17) | | EUR | | | 100 | | | | 129,883 | |
| | | |
TI Automotive Finance PLC, 3.75%, 4/15/29(17) | | EUR | | | 212 | | | | 248,738 | |
| | | |
Tupy Overseas S.A., 4.50%, 2/16/31(1) | | | | | 500 | | | | 486,025 | |
| | | |
Volkswagen International Finance N.V., 3.875% to 6/17/29(17)(19)(20) | | EUR | | | 200 | | | | 257,399 | |
| | | |
Wheel Pros, Inc., 6.50%, 5/15/29(1) | | | | | 1,305 | | | | 1,264,225 | |
| | | | |
| | 11 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Automotive (continued) | |
| | | |
ZF North America Capital, Inc.: | | | | | | | | |
| | | |
4.50%, 4/29/22(1) | | | | | 392 | | | $ | 397,880 | |
| | | |
4.75%, 4/29/25(1) | | | | | 200 | | | | 216,388 | |
| |
| | | $ | 28,040,270 | |
|
Banks and Thrifts — 1.0% | |
| | | |
Banco do Brasil S.A., 3.25%, 9/30/26(1) | | | | | 1,000 | | | $ | 1,000,750 | |
| | | |
Banco Mercantil del Norte S.A./Grand Cayman, 5.75% to 10/4/26, 10/4/31(1)(19) | | | | | 1,160 | | | | 1,252,452 | |
| | | |
BankUnited, Inc., 5.125%, 6/11/30 | | | | | 511 | | | | 590,926 | |
| | | |
BBVA Bancomer S.A., 5.125% to 1/18/28, 1/18/33(1)(19) | | | | | 1,100 | | | | 1,148,285 | |
| | | |
Commonwealth Bank of Australia, 3.61% to 9/12/29, 9/12/34(1)(19) | | | | | 1,500 | | | | 1,591,685 | |
| | | |
Danske Bank A/S, 1.621% to 9/11/25, 9/11/26(1)(19) | | | | | 1,086 | | | | 1,086,574 | |
| | | |
Deutsche Bank AG, 7.125% to 4/30/26(17)(19)(20) | | GBP | | | 500 | | | | 738,051 | |
| | | |
First Midwest Bancorp, Inc., 5.875%, 9/29/26 | | | | | 1,000 | | | | 1,153,694 | |
| | | |
Nationwide Building Society, 4.125% to 10/18/27, 10/18/32(1)(19) | | | | | 1,280 | | | | 1,399,592 | |
| | | |
Synovus Bank/Columbus, GA, 4.00% to 10/29/25, 10/29/30(19) | | | | | 500 | | | | 524,047 | |
| | | |
Texas Capital Bancshares, Inc., 4.00% to 5/6/26, 5/6/31(19) | | | | | 1,500 | | | | 1,561,454 | |
| | | |
Wells Fargo & Co., 3.584% to 5/22/27, 5/22/28(19) | | | | | 2,000 | | | | 2,191,121 | |
| | | |
Westpac Banking Corp., 2.668% to 11/15/30, 11/15/35(19) | | | | | 1,033 | | | | 1,012,230 | |
| |
| | | $ | 15,250,861 | |
|
Beverage and Tobacco — 0.2% | |
| | | |
Altria Group, Inc., 3.875%, 9/16/46 | | | | | 650 | | | $ | 634,074 | |
| | | |
Anheuser-Busch InBev Worldwide, Inc., 3.50%, 6/1/30 | | | | | 1,500 | | | | 1,643,934 | |
| | | |
BAT Capital Corp., 4.54%, 8/15/47 | | | | | 650 | | | | 674,440 | |
| | | |
Vector Group, Ltd., 5.75%, 2/1/29(1) | | | | | 500 | | | | 500,745 | |
| |
| | | $ | 3,453,193 | |
|
Brokerage / Securities Dealers / Investment Houses — 0.2% | |
| | | |
Alliance Data Systems Corp., 4.75%, 12/15/24(1) | | | | | 1,071 | | | $ | 1,098,319 | |
| | | |
Intrum AB, 3.50%, 7/15/26(17) | | EUR | | | 200 | | | | 237,194 | |
| | | |
Macquarie Bank, Ltd., 3.052% to 3/3/31, 3/3/36(1)(19) | | | | | 1,017 | | | | 1,007,804 | |
| | | |
Neuberger Berman Group, LLC/Neuberger Berman Finance Corp., 4.875%, 4/15/45(1) | | | | | 688 | | | | 795,142 | |
| |
| | | $ | 3,138,459 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Building and Development — 1.8% | |
| | | |
Boise Cascade Co., 4.875%, 7/1/30(1) | | | | | 707 | | | $ | 756,013 | |
| | | |
Brookfield Property REIT, Inc./BPR Cumulus, LLC/BPR Nimbus, LLC/GGSI Sellco, LLC: | | | | | | | | |
| | | |
4.50%, 4/1/27(1) | | | | | 1,916 | | | | 1,899,235 | |
| | | |
5.75%, 5/15/26(1) | | | | | 1,592 | | | | 1,655,680 | |
| | | |
Builders FirstSource, Inc.: | | | | | | | | |
| | | |
4.25%, 2/1/32(1) | | | | | 1,546 | | | | 1,582,717 | |
| | | |
5.00%, 3/1/30(1) | | | | | 2,150 | | | | 2,293,792 | |
| | | |
6.75%, 6/1/27(1) | | | | | 762 | | | | 808,672 | |
| | | |
CyrusOne, L.P./CyrusOne Finance Corp., 3.45%, 11/15/29 | | | | | 562 | | | | 586,026 | |
| | | |
Empire Communities Corp., 7.00%, 12/15/25(1) | | | | | 1,541 | | | | 1,612,271 | |
| | | |
Greystar Real Estate Partners, LLC, 5.75%, 12/1/25(1) | | | | | 1,396 | | | | 1,419,865 | |
| | | |
HT Troplast GmbH, 9.25%, 7/15/25(17) | | EUR | | | 315 | | | | 400,752 | |
| | | |
James Hardie International Finance DAC, 3.625%, 10/1/26(17) | | EUR | | | 200 | | | | 236,335 | |
| | | |
Masonite International Corp., 5.375%, 2/1/28(1) | | | | | 570 | | | | 600,923 | |
| | | |
MDC Holdings, Inc., 2.50%, 1/15/31 | | | | | 837 | | | | 816,761 | |
| | | |
Miller Homes Group Holdings PLC, 5.50%, 10/15/24(17) | | GBP | | | 100 | | | | 136,697 | |
| | | |
Patrick Industries, Inc., 4.75%, 5/1/29(1) | | | | | 1,236 | | | | 1,262,265 | |
| | | |
PCF GmbH, 4.75%, 4/15/26(17) | | EUR | | | 225 | | | | 269,876 | |
| | | |
PGT Innovations, Inc., 4.375%, 10/1/29(1) | | | | | 1,284 | | | | 1,295,241 | |
| | | |
SRM Escrow Issuer, LLC, 6.00%, 11/1/28(1) | | | | | 3,099 | | | | 3,285,079 | |
| | | |
SRS Distribution, Inc., 6.125%, 7/1/29(1) | | | | | 1,195 | | | | 1,232,356 | |
| | | |
Standard Industries, Inc.: | | | | | | | | |
| | | |
2.25%, 11/21/26(17) | | EUR | | | 400 | | | | 458,102 | |
| | | |
4.375%, 7/15/30(1) | | | | | 1,146 | | | | 1,170,352 | |
| | | |
5.00%, 2/15/27(1) | | | | | 457 | | | | 471,853 | |
| | | |
Taylor Morrison Communities, Inc.: | | | | | | | | |
| | | |
5.75%, 1/15/28(1) | | | | | 1,062 | | | | 1,184,395 | |
| | | |
5.875%, 6/15/27(1) | | | | | 808 | | | | 922,130 | |
| | | |
Tri Pointe Homes, Inc., 5.70%, 6/15/28 | | | | | 66 | | | | 71,858 | |
| | | |
Victoria PLC, 3.625%, 8/24/26(17) | | EUR | | | 385 | | | | 457,117 | |
| | | |
White Cap Parent, LLC, 8.25%, (8.25% cash or 9.00% PIK), 3/15/26(1)(18) | | | | | 691 | | | | 714,667 | |
| |
| | | $ | 27,601,030 | |
|
Business Equipment and Services — 1.2% | |
| | | |
Adtalem Global Education, Inc., 5.50%, 3/1/28(1) | | | | | 1,830 | | | $ | 1,849,661 | |
| | | |
Allied Universal Holdco, LLC: | | | | | | | | | | |
| | | |
4.625%, 6/1/28(1) | | | | | 1,941 | | | | 1,939,199 | |
| | | |
4.875%, 6/1/28(17) | | GBP | | | 100 | | | | 132,901 | |
| | | |
6.00%, 6/1/29(1) | | | | | 1,212 | | | | 1,197,601 | |
| | | |
6.625%, 7/15/26(1) | | | | | 2,534 | | | | 2,682,315 | |
| | | |
9.75%, 7/15/27(1) | | | | | 1,148 | | | | 1,250,430 | |
| | | | |
| | 12 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Business Equipment and Services (continued) | |
|
GEMS MENASA Cayman, Ltd./GEMS Education Delaware, LLC: | |
| | | |
7.125%, 7/31/26(1) | | | | | 2,576 | | | $ | 2,644,612 | |
| | | |
7.125%, 7/31/26(17) | | | | | 350 | | | | 359,322 | |
| | | |
Iron Mountain, Inc.: | | | | | | | | | | |
| | | |
4.50%, 2/15/31(1) | | | | | 750 | | | | 761,663 | |
| | | |
5.00%, 7/15/28(1) | | | | | 94 | | | | 98,094 | |
| | | |
Sabre GLBL, Inc., 9.25%, 4/15/25(1) | | | | | 483 | | | | 558,850 | |
| | | |
Techem Verwaltungsgesellschaft 674 mbH, 6.00%, 7/30/26(17) | | EUR | | | 264 | | | | 315,183 | |
| | | |
Terminix Co., LLC (The), 7.45%, 8/15/27 | | | | | 4,075 | | | | 4,948,008 | |
| |
| | | $ | 18,737,839 | |
|
Cable and Satellite Television — 2.4% | |
|
Altice France S.A.: | |
| | | |
3.375%, 1/15/28(17) | | EUR | | | 100 | | | $ | 111,742 | |
| | | |
5.125%, 7/15/29(1) | | | | | 767 | | | | 753,075 | |
| | | |
5.50%, 1/15/28(1) | | | | | 841 | | | | 856,365 | |
| | | |
5.50%, 10/15/29(1)(3) | | | | | 755 | | | | 748,331 | |
| | | |
7.375%, 5/1/26(1) | | | | | 648 | | | | 673,175 | |
| | | |
8.125%, 2/1/27(1) | | | | | 4,904 | | | | 5,282,834 | |
|
CCO Holdings, LLC/CCO Holdings Capital Corp.: | |
| | | |
4.25%, 2/1/31(1) | | | | | 1,739 | | | | 1,771,345 | |
| | | |
4.50%, 8/15/30(1) | | | | | 1,640 | | | | 1,694,071 | |
| | | |
4.50%, 5/1/32 | | | | | 771 | | | | 795,094 | |
| | | |
4.75%, 3/1/30(1) | | | | | 1,789 | | | | 1,872,591 | |
| | | |
5.00%, 2/1/28(1) | | | | | 1,755 | | | | 1,834,238 | |
| | | |
5.375%, 6/1/29(1) | | | | | 595 | | | | 643,344 | |
| | | |
Charter Communications Operating, LLC/Charter Communications Operating Capital, 4.80%, 3/1/50 | | | | | 975 | | | | 1,096,109 | |
| | | |
Comcast Corp., 1.95%, 1/15/31 | | | | | 1,000 | | | | 982,164 | |
|
CSC Holdings, LLC: | |
| | | |
3.375%, 2/15/31(1) | | | | | 912 | | | | 849,300 | |
| | | |
5.25%, 6/1/24 | | | | | 355 | | | | 380,730 | |
| | | |
5.75%, 1/15/30(1) | | | | | 4,904 | | | | 4,993,032 | |
| | | |
5.875%, 9/15/22 | | | | | 1,085 | | | | 1,123,653 | |
| | | |
6.50%, 2/1/29(1) | | | | | 543 | | | | 588,721 | |
| | | |
6.75%, 11/15/21 | | | | | 2,780 | | | | 2,790,425 | |
| | | |
7.50%, 4/1/28(1) | | | | | 619 | | | | 669,775 | |
| | | |
UPC Holding B.V., 5.50%, 1/15/28(1) | | | | | 593 | | | | 621,449 | |
| | | |
UPCB Finance VII, Ltd., 3.625%, 6/15/29(17) | | EUR | | | 300 | | | | 357,496 | |
|
Virgin Media Finance PLC: | |
| | | |
3.75%, 7/15/30(17) | | EUR | | | 300 | | | | 352,785 | |
| | | |
5.00%, 7/15/30(1) | | | | | 946 | | | | 971,353 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Cable and Satellite Television (continued) | |
| | | |
Virgin Media Secured Finance PLC, 5.00%, 4/15/27(17) | | GBP | | | 100 | | | $ | 139,817 | |
| | | |
Virgin Media Vendor Financing Notes III DAC, 4.875%, 7/15/28(17) | | GBP | | | 200 | | | | 275,313 | |
| | | |
Virgin Media Vendor Financing Notes IV DAC, 5.00%, 7/15/28(1) | | | | | 425 | | | | 439,544 | |
| | | |
Ziggo B.V.: | | | | | | | | |
| | | |
4.875%, 1/15/30(1) | | | | | 843 | | | | 870,397 | |
| | | |
5.50%, 1/15/27(1) | | | | | 1,605 | | | | 1,661,175 | |
| | | |
Ziggo Bond Co., B.V.: | | | | | | | | | | |
| | | |
3.375%, 2/28/30(17) | | EUR | | | 230 | | | | 266,420 | |
| | | |
6.00%, 1/15/27(1) | | | | | 745 | | | | 771,407 | |
| |
| | | $ | 37,237,270 | |
|
Capital Goods — 0.2% | |
| | | |
BWX Technologies, Inc.: | | | | | | | | | | |
| | | |
4.125%, 6/30/28(1) | | | | | 948 | | | $ | 974,070 | |
| | | |
4.125%, 4/15/29(1) | | | | | 733 | | | | 751,325 | |
| | | |
Valmont Industries, Inc., 5.25%, 10/1/54 | | | | | 610 | | | | 763,584 | |
| |
| | | $ | 2,488,979 | |
|
Chemicals and Plastics — 0.8% | |
| | | |
Alpek SAB de CV, 4.25%, 9/18/29(1) | | | | | 610 | | | $ | 654,622 | |
| | | |
Ashland Services B.V., 2.00%, 1/30/28(17) | | EUR | | | 100 | | | | 119,955 | |
| | | |
Chemours Co. (The), 4.625%, 11/15/29(1) | | | | | 1,115 | | | | 1,090,247 | |
| | | |
Herens Holdco S.a.r.l., 4.75%, 5/15/28(1) | | | | | 545 | | | | 548,406 | |
| | | |
Herens Midco S.a.r.l., 5.25%, 5/15/29(17) | | EUR | | | 216 | | | | 243,479 | |
| | | |
INEOS Quattro Finance 2 PLC, 2.50%, 1/15/26(17) | | EUR | | | 154 | | | | 180,357 | |
| | | |
NOVA Chemicals Corp., 4.25%, 5/15/29(1) | | | | | 1,242 | | | | 1,243,553 | |
| | | |
Nufarm Australia, Ltd./Nufarm Americas, Inc., 5.75%, 4/30/26(1) | | | | | 1,800 | | | | 1,849,500 | |
| | | |
SCIH Salt Holdings, Inc., 6.625%, 5/1/29(1) | | | | | 931 | | | | 894,942 | |
| | | |
SGL Carbon SE, 3.00%, 9/20/23(17) | | EUR | | | 400 | | | | 471,402 | |
| | | |
SPCM S.A., 2.625%, 2/1/29(17) | | EUR | | | 150 | | | | 178,527 | |
| | | |
Unifrax Escrow Issuer Corp., 5.25%, 9/30/28(1) | | | | | 577 | | | | 584,934 | |
| | | |
Valvoline, Inc.: | | | | | | | | |
| | | |
3.625%, 6/15/31(1) | | | | | 802 | | | | 792,978 | |
| | | |
4.25%, 2/15/30(1) | | | | | 790 | | | | 820,060 | |
| | | |
Westlake Chemical Corp., 5.00%, 8/15/46 | | | | | 710 | | | | 878,284 | |
| | | |
WR Grace Holdings, LLC: | | | | | | | | |
| | | |
4.875%, 6/15/27(1) | | | | | 1,472 | | | | 1,516,160 | |
| | | |
5.625%, 8/15/29(1) | | | | | 604 | | | | 623,636 | |
| |
| | | $ | 12,691,042 | |
| | | | |
| | 13 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Clothing / Textiles — 0.1% | |
| | | |
PrestigeBidCo GmbH, 6.25%, 12/15/23(17) | | EUR | | | 365 | | | $ | 428,057 | |
| | | |
William Carter Co. (The): | | | | | | | | |
| | | |
5.50%, 5/15/25(1) | | | | | 331 | | | | 348,196 | |
| | | |
5.625%, 3/15/27(1) | | | | | 811 | | | | 841,737 | |
| |
| | | $ | 1,617,990 | |
|
Commercial Services — 0.8% | |
| | | |
Abertis Infraestructuras Finance B.V., 3.248% to 11/24/25(17)(19)(20) | | EUR | | | 300 | | | $ | 357,226 | |
|
AMN Healthcare, Inc.: | |
| | | |
4.00%, 4/15/29(1) | | | | | 1,029 | | | | 1,061,763 | |
| | | |
4.625%, 10/1/27(1) | | | | | 458 | | | | 475,748 | |
|
Autostrade per l’Italia SpA: | |
| | | |
1.75%, 2/1/27(17) | | EUR | | | 200 | | | | 239,900 | |
| | | |
2.00%, 12/4/28(17) | | EUR | | | 600 | | | | 730,864 | |
| | | |
6.25%, 6/9/22 | | GBP | | | 250 | | | | 348,656 | |
|
Avis Budget Car Rental, LLC/Avis Budget Finance, Inc.: | |
| | | |
5.375%, 3/1/29(1) | | | | | 792 | | | | 838,122 | |
| | | |
5.75%, 7/15/27(1) | | | | | 1,215 | | | | 1,268,564 | |
| | | |
Block Financial, LLC, 3.875%, 8/15/30 | | | | | 988 | | | | 1,075,174 | |
| | | |
EC Finance PLC, 3.00%, 10/15/26(3)(17) | | EUR | | | 102 | | | | 119,073 | |
| | | |
HealthEquity, Inc., 4.50%, 10/1/29(1)(3) | | | | | 822 | | | | 835,358 | |
| | | |
Korn Ferry, 4.625%, 12/15/27(1) | | | | | 355 | | | | 368,756 | |
| | | |
Loxam S.A.S., 3.25%, 1/14/25(17) | | EUR | | | 200 | | | | 234,141 | |
| | | |
MoneyGram International, Inc., 5.375%, 8/1/26(1) | | | | | 918 | | | | 932,918 | |
| | | |
Mooney Group SpA, 3.875%, (3 mo. EURIBOR + 3.875%), 12/17/26(2)(17) | | EUR | | | 110 | | | | 127,833 | |
| | | |
NESCO Holdings II, Inc., 5.50%, 4/15/29(1) | | | | | 1,282 | | | | 1,331,293 | |
| | | |
Nexi SpA, 1.75%, 10/31/24(17) | | EUR | | | 200 | | | | 237,317 | |
| | | |
Verisure Midholding AB, 5.25%, 2/15/29(17) | | EUR | | | 175 | | | | 208,419 | |
| | | |
WASH Multifamily Acquisition, Inc., 5.75%, 4/15/26(1) | | | | | 1,240 | | | | 1,296,389 | |
| |
| | | $ | 12,087,514 | |
|
Computers — 0.5% | |
|
Booz Allen Hamilton, Inc.: | |
| | | |
3.875%, 9/1/28(1) | | | | | 1,341 | | | $ | 1,376,362 | |
| | | |
4.00%, 7/1/29(1) | | | | | 717 | | | | 735,821 | |
| | | |
International Business Machines Corp., 2.95%, 5/15/50 | | | | | 500 | | | | 493,490 | |
| | | |
Presidio Holdings, Inc., 8.25%, 2/1/28(1) | | | | | 2,368 | | | | 2,552,278 | |
|
Seagate HDD Cayman: | |
| | | |
3.125%, 7/15/29(1) | | | | | 865 | | | | 837,623 | |
| | | |
5.75%, 12/1/34 | | | | | 995 | | | | 1,165,394 | |
| |
| | | $ | 7,160,968 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Conglomerates — 0.1% | |
|
Spectrum Brands, Inc.: | |
| | | |
5.00%, 10/1/29(1) | | | | | 406 | | | $ | 437,345 | |
| | | |
5.50%, 7/15/30(1) | | | | | 691 | | | | 766,146 | |
| |
| | | $ | 1,203,491 | |
|
Consumer Products — 0.0%(11) | |
| | | |
Central Garden & Pet Co., 5.125%, 2/1/28 | | | | | 285 | | | $ | 301,198 | |
| |
| | | $ | 301,198 | |
|
Containers and Glass Products — 0.2% | |
| | | |
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc.: | | | | | | | | |
| | | |
2.125%, 8/15/26(17) | | EUR | | | 200 | | | $ | 232,028 | |
| | | |
5.25%, 8/15/27(1) | | | | | 1,661 | | | | 1,693,182 | |
| | | |
Crown Americas, LLC/Crown Americas Capital Corp. V, 4.25%, 9/30/26 | | | | | 660 | | | | 708,523 | |
| | | |
Crown Americas, LLC/Crown Americas Capital Corp. VI, 4.75%, 2/1/26 | | | | | 750 | | | | 773,887 | |
| |
| | | $ | 3,407,620 | |
|
Cosmetics / Toiletries — 0.1% | |
| | | |
Edgewell Personal Care Co., 5.50%, 6/1/28(1) | | | | | 1,067 | | | $ | 1,128,224 | |
| | | |
Natura Cosmeticos S.A., 4.125%, 5/3/28(1) | | | | | 843 | | | | 854,381 | |
| |
| | | $ | 1,982,605 | |
|
Distribution & Wholesale — 0.4% | |
| | | |
BCPE Empire Holdings, Inc., 7.625%, 5/1/27(1) | | | | | 2,993 | | | $ | 2,981,776 | |
| | | |
Parts Europe S.A.: | | | | | | | | |
| | | |
4.00%, (3 mo. EURIBOR + 4.00%), 7/20/27(2)(17) | | EUR | | | 128 | | | | 149,546 | |
| | | |
6.50%, 7/16/25(17) | | EUR | | | 100 | | | | 121,054 | |
| | | |
Performance Food Group, Inc.: | | | | | | | | |
| | | |
4.25%, 8/1/29(1) | | | | | 2,429 | | | | 2,438,133 | |
| | | |
5.50%, 10/15/27(1) | | | | | 935 | | | | 980,170 | |
| |
| | | $ | 6,670,679 | |
|
Diversified Financial Services — 1.5% | |
| | | |
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, 6.50%, 7/15/25 | | | | | 459 | | | $ | 532,407 | |
| | | |
Affiliated Managers Group, Inc., 3.30%, 6/15/30 | | | | | 849 | | | | 909,121 | |
| | | |
American AgCredit Corp., 5.25% to 6/15/26(1)(19)(20) | | | | | 410 | | | | 418,200 | |
| | | |
Arrow Global Finance PLC, 2.875%, (3 mo. EURIBOR + 2.875%), 4/1/25(2)(17) | | EUR | | | 100 | | | | 115,965 | |
| | | |
BrightSphere Investment Group, Inc., 4.80%, 7/27/26 | | | | | 2,195 | | | | 2,380,874 | |
| | | | |
| | 14 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Diversified Financial Services (continued) | |
| | | |
CI Financial Corp., 3.20%, 12/17/30 | | | | | 1,000 | | | $ | 1,038,880 | |
| | | |
Coinbase Global, Inc.: | | | | | | | | |
| | | |
3.375%, 10/1/28(1) | | | | | 1,344 | | | | 1,293,036 | |
| | | |
3.625%, 10/1/31(1) | | | | | 1,120 | | | | 1,066,100 | |
| | | |
Discover Bank, 4.682% to 8/9/23, 8/9/28(19) | | | | | 1,750 | | | | 1,862,217 | |
| | | |
Enact Holdings, Inc., 6.50%, 8/15/25(1) | | | | | 750 | | | | 819,765 | |
| | | |
Encore Capital Group, Inc.: | | | | | | | | |
| | | |
4.25%, (3 mo. EURIBOR + 4.25%), 1/15/28(2)(17) | | EUR | | | 600 | | | | 711,619 | |
| | | |
5.375%, 2/15/26(17) | | GBP | | | 100 | | | | 141,789 | |
| | | |
Jefferson Capital Holdings, LLC, 6.00%, 8/15/26(1) | | | | | 1,275 | | | | 1,311,847 | |
| | | |
Lincoln Financing S.a.r.l., 3.625%, 4/1/24(17) | | EUR | | | 245 | | | | 286,655 | |
| | | |
Louvre Bidco S.A.S., 6.50%, 9/30/24(17) | | EUR | | | 400 | | | | 479,499 | |
| | | |
PRA Group, Inc.: | | | | | | | | |
| | | |
5.00%, 10/1/29(1) | | | | | 901 | | | | 903,253 | |
| | | |
7.375%, 9/1/25(1) | | | | | 1,566 | | | | 1,677,577 | |
| | | |
ProGroup AG, 3.00%, 3/31/26(17) | | EUR | | | 300 | | | | 352,318 | |
| | | |
Stifel Financial Corp., 4.00%, 5/15/30 | | | | | 769 | | | | 858,033 | |
| | | |
UniCredit SpA: | | | | | | | | | | |
| | | |
5.861% to 6/19/27, 6/19/32(1)(19) | | | | | 715 | | | | 795,758 | |
| | | |
7.296% to 4/2/29, 4/2/34(1)(19) | | | | | 500 | | | | 606,582 | |
| | | |
Unifin Financiera SAB de CV, 7.375%, 2/12/26(1) | | | | | 620 | | | | 591,840 | |
| | | |
Vivion Investments S.a.r.l.: | | | | | | | | |
| | | |
3.00%, 8/8/24(17) | | EUR | | | 3,400 | | | | 3,851,548 | |
| | | |
3.50%, 11/1/25(17) | | EUR | | | 100 | | | | 115,120 | |
| |
| | | $ | 23,120,003 | |
|
Drugs — 1.1% | |
| | | |
AdaptHealth, LLC: | | | | | | | | |
| | | |
4.625%, 8/1/29(1) | | | | | 405 | | | $ | 405,202 | |
| | | |
5.125%, 3/1/30(1) | | | | | 539 | | | | 540,019 | |
| | | |
6.125%, 8/1/28(1) | | | | | 685 | | | | 729,001 | |
| | | |
Bausch Health Americas, Inc.: | | | | | | | | |
| | | |
8.50%, 1/31/27(1) | | | | | 3,076 | | | | 3,280,400 | |
| | | |
9.25%, 4/1/26(1) | | | | | 670 | | | | 716,381 | |
|
Bausch Health Companies, Inc.: | |
| | | |
5.25%, 1/30/30(1) | | | | | 431 | | | | 402,563 | |
| | | |
5.25%, 2/15/31(1) | | | | | 431 | | | | 396,975 | |
| | | |
5.50%, 11/1/25(1) | | | | | 955 | | | | 970,519 | |
| | | |
5.75%, 8/15/27(1) | | | | | 412 | | | | 432,085 | |
| | | |
6.25%, 2/15/29(1) | | | | | 473 | | | | 468,714 | |
| | | |
7.00%, 1/15/28(1) | | | | | 2,092 | | | | 2,146,559 | |
| | | |
7.25%, 5/30/29(1) | | | | | 544 | | | | 558,269 | |
| | | |
9.00%, 12/15/25(1) | | | | | 2,340 | | | | 2,472,736 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Drugs (continued) | |
| | | |
Endo Luxembourg Finance Co. I S.a.r.l./Endo US, Inc., 6.125%, 4/1/29(1) | | | | | 1,326 | | | $ | 1,327,797 | |
| | | |
Hikma Finance USA, LLC, 3.25%, 7/9/25(17) | | | | | 1,250 | | | | 1,305,834 | |
| | | |
Jazz Securities DAC, 4.375%, 1/15/29(1) | | | | | 1,371 | | | | 1,422,481 | |
| |
| | | $ | 17,575,535 | |
|
Ecological Services and Equipment — 0.4% | |
|
Clean Harbors, Inc.: | |
| | | |
4.875%, 7/15/27(1) | | | | | 551 | | | $ | 572,351 | |
| | | |
5.125%, 7/15/29(1) | | | | | 332 | | | | 364,637 | |
| | | |
Covanta Holding Corp., 5.875%, 7/1/25 | | | | | 860 | | | | 889,025 | |
| | | |
GFL Environmental, Inc.: | | | | | | | | | | |
| | | |
3.50%, 9/1/28(1) | | | | | 1,499 | | | | 1,510,243 | |
| | | |
3.75%, 8/1/25(1) | | | | | 776 | | | | 799,280 | |
| | | |
4.75%, 6/15/29(1) | | | | | 2,095 | | | | 2,155,231 | |
| | | |
Paprec Holding S.A., 3.50%, 7/1/28(17) | | EUR | | | 129 | | | | 151,747 | |
| |
| | | $ | 6,442,514 | |
|
Electric Utilities — 0.8% | |
| | | |
Consolidated Edison Co. of New York, Inc., 4.125%, 5/15/49 | | | | | 400 | | | $ | 464,541 | |
| | | |
ContourGlobal Power Holdings S.A., 4.125%, 8/1/25(17) | | EUR | | | 200 | | | | 236,554 | |
| | | |
Drax Finco PLC, 6.625%, 11/1/25(1) | | | | | 635 | | | | 656,431 | |
| | | |
Edison International, 3.55%, 11/15/24 | | | | | 614 | | | | 651,312 | |
| | | |
EDP - Energias de Portugal S.A., 4.496% to 1/30/24, 4/30/79(17)(19) | | EUR | | | 300 | | | | 377,503 | |
| | | |
FirstEnergy Corp., Series B, 4.40%, 7/15/27 | | | | | 1,630 | | | | 1,789,555 | |
| | | |
Instituto Costarricense de Electricidad, 6.75%, 10/7/31(3)(17) | | | | | 1,180 | | | | 1,169,463 | |
| | | |
Liberty Utilities Finance GP 1, 2.05%, 9/15/30(1) | | | | | 526 | | | | 509,546 | |
| | | |
MidAmerican Energy Co., 2.70%, 8/1/52 | | | | | 500 | | | | 481,605 | |
| | | |
Pattern Energy Operations, L.P./Pattern Energy Operations, Inc., 4.50%, 8/15/28(1) | | | | | 1,132 | | | | 1,181,525 | |
| | | |
Southern California Edison Co., 4.00%, 4/1/47 | | | | | 845 | | | | 907,773 | |
| | | |
Southern Co. (The), 4.40%, 7/1/46 | | | | | 971 | | | | 1,143,808 | |
| | | |
Virginia Electric & Power Co., 4.00%, 1/15/43 | | | | | 410 | | | | 471,248 | |
| | | |
WESCO Distribution, Inc.: | | | | | | | | |
| | | |
7.125%, 6/15/25(1) | | | | | 1,024 | | | | 1,094,021 | |
| | | |
7.25%, 6/15/28(1) | | | | | 915 | | | | 1,014,506 | |
| |
| | | $ | 12,149,391 | |
|
Electronics / Electrical — 0.7% | |
| | | |
Electricite de France S.A., 2.875% to 12/15/26(17)(19)(20) | | EUR | | | 200 | | | $ | 239,807 | |
| | | | |
| | 15 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Electronics / Electrical (continued) | |
| | | |
Engie Energia Chile S.A., 3.40%, 1/28/30(1) | | | | | 960 | | | $ | 987,600 | |
| | | |
Entegris, Inc., 4.375%, 4/15/28(1) | | | | | 727 | | | | 762,572 | |
| | | |
Imola Merger Corp., 4.75%, 5/15/29(1) | | | | | 3,209 | | | | 3,323,781 | |
| | | |
Jabil, Inc., 3.00%, 1/15/31 | | | | | 1,040 | | | | 1,067,870 | |
| | | |
LogMeIn, Inc., 5.50%, 9/1/27(1) | | | | | 662 | | | | 674,413 | |
| | | |
Nobel Bidco B.V., 3.125%, 6/15/28(17) | | EUR | | | 150 | | | | 172,979 | |
| | | |
Open Text Corp., 3.875%, 2/15/28(1) | | | | | 1,009 | | | | 1,030,441 | |
| | | |
Open Text Holdings, Inc., 4.125%, 2/15/30(1) | | | | | 883 | | | | 908,386 | |
| | | |
RWE AG, 6.625% to 3/30/26, 7/30/75(17)(19) | | | | | 266 | | | | 308,486 | |
|
Sensata Technologies, Inc.: | |
| | | |
3.75%, 2/15/31(1) | | | | | 680 | | | | 685,501 | |
| | | |
4.375%, 2/15/30(1) | | | | | 627 | | | | 675,771 | |
| | | |
SS&C Technologies, Inc., 5.50%, 9/30/27(1) | | | | | 517 | | | | 546,566 | |
| | | |
Verisure Holding AB, 3.25%, 2/15/27(17) | | EUR | | | 100 | | | | 116,597 | |
| |
| | | $ | 11,500,770 | |
|
Energy — 0.4% | |
| | | |
Enviva Partners, L.P./Enviva Partners Finance Corp., 6.50%, 1/15/26(1) | | | | | 1,988 | | | $ | 2,058,823 | |
| | | |
New Fortress Energy, Inc., 6.50%, 9/30/26(1) | | | | | 2,374 | | | | 2,273,105 | |
|
Sunoco, L.P./Sunoco Finance Corp.: | |
| | | |
4.50%, 5/15/29 | | | | | 884 | | | | 897,719 | |
| | | |
5.50%, 2/15/26 | | | | | 412 | | | | 420,796 | |
| |
| | | $ | 5,650,443 | |
|
Engineering & Construction — 0.3% | |
| | | |
Brundage-Bone Concrete Pumping Holdings, Inc., 6.00%, 2/1/26(1) | | | | | 1,060 | | | $ | 1,106,375 | |
| | | |
Dycom Industries, Inc., 4.50%, 4/15/29(1) | | | | | 1,389 | | | | 1,396,605 | |
| | | |
TopBuild Corp., 4.125%, 2/15/32(1)(3) | | | | | 1,167 | | | | 1,181,587 | |
| | | |
VM Consolidated, Inc., 5.50%, 4/15/29(1) | | | | | 1,684 | | | | 1,715,146 | |
| |
| | | $ | 5,399,713 | |
|
Entertainment — 0.6% | |
|
Caesars Entertainment, Inc.: | |
| | | |
4.625%, 10/15/29(1) | | | | | 529 | | | $ | 536,274 | |
| | | |
6.25%, 7/1/25(1) | | | | | 2,521 | | | | 2,657,153 | |
| | | |
8.125%, 7/1/27(1) | | | | | 1,589 | | | | 1,788,380 | |
| | | |
CPUK Finance, Ltd.: | | | | | | | | | | |
| | | |
4.50%, 8/28/27(17) | | GBP | | | 200 | | | | 274,928 | |
| | | |
4.875%, 8/28/25(17) | | GBP | | | 135 | | | | 183,787 | |
|
Gamma Bidco SpA: | |
| | | |
5.125%, 7/15/25(17) | | EUR | | | 200 | | | | 236,866 | |
| | | |
6.25%, 7/15/25(17) | | EUR | | | 100 | | | | 120,902 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Entertainment (continued) | |
| | | |
Live Nation Entertainment, Inc., 4.75%, 10/15/27(1) | | | | | 1,226 | | | $ | 1,247,455 | |
| | | |
Powdr Corp., 6.00%, 8/1/25(1) | | | | | 1,402 | | | | 1,474,350 | |
| | | |
Speedway Motorsports, LLC/Speedway Funding II, Inc., 4.875%, 11/1/27(1) | | | | | 1,345 | | | | 1,374,220 | |
| |
| | | $ | 9,894,315 | |
|
Equipment Leasing — 0.0%(11) | |
| | | |
Ashtead Capital, Inc., 4.25%, 11/1/29(1) | | | | | 526 | | | $ | 577,938 | |
| |
| | | $ | 577,938 | |
|
Financial Intermediaries — 1.6% | |
| | | |
Ally Financial, Inc., 4.70% to 5/15/26(19)(20) | | | | | 1,453 | | | $ | 1,516,896 | |
|
Alpha Holding S.A. de CV: | |
| | | |
9.00%, 2/10/25(1)(21) | | | | | 765 | | | | 112,838 | |
| | | |
10.00%, 12/19/22(1)(21) | | | | | 200 | | | | 27,874 | |
| | | |
Citigroup, Inc., 3.98% to 3/20/29, 3/20/30(19) | | | | | 1,700 | | | | 1,910,173 | |
|
Ford Motor Credit Co., LLC: | |
| | | |
1.36%, (3 mo. USD LIBOR + 1.24%), 2/15/23(2) | | | | | 479 | | | | 477,322 | |
| | | |
1.402%, (3 mo. USD LIBOR + 1.27%), 3/28/22(2) | | | | | 230 | | | | 230,179 | |
| | | |
2.90%, 2/16/28 | | | | | 420 | | | | 420,000 | |
| | | |
3.087%, 1/9/23 | | | | | 439 | | | | 446,002 | |
| | | |
3.339%, 3/28/22 | | | | | 530 | | | | 533,646 | |
| | | |
3.37%, 11/17/23 | | | | | 513 | | | | 526,415 | |
| | | |
3.625%, 6/17/31 | | | | | 504 | | | | 507,780 | |
| | | |
3.813%, 10/12/21 | | | | | 466 | | | | 466,815 | |
| | | |
3.815%, 11/2/27 | | | | | 1,984 | | | | 2,060,880 | |
| | | |
4.00%, 11/13/30 | | | | | 995 | | | | 1,036,044 | |
| | | |
4.125%, 8/17/27 | | | | | 2,739 | | | | 2,908,133 | |
| | | |
4.25%, 9/20/22 | | | | | 500 | | | | 512,000 | |
| | | |
4.271%, 1/9/27 | | | | | 476 | | | | 507,145 | |
| | | |
5.125%, 6/16/25 | | | | | 938 | | | | 1,020,075 | |
| | | |
5.584%, 3/18/24 | | | | | 257 | | | | 276,555 | |
| | | |
5.596%, 1/7/22 | | | | | 1,127 | | | | 1,141,876 | |
|
Icahn Enterprises, L.P./Icahn Enterprises Finance Corp.: | |
| | | |
5.25%, 5/15/27 | | | | | 1,614 | | | | 1,676,542 | |
| | | |
6.25%, 5/15/26 | | | | | 1,615 | | | | 1,689,694 | |
| | | |
6.375%, 12/15/25 | | | | | 820 | | | | 842,345 | |
| | | |
JPMorgan Chase & Co.: | | | | | | | | |
| | | |
Series HH, 4.60% to 2/1/25(19)(20) | | | | | 1,674 | | | | 1,713,757 | |
| | | |
1.04% to 2/4/26, 2/4/27(19) | | | | | 1,515 | | | | 1,486,936 | |
| | | |
MSCI, Inc., 3.625%, 9/1/30(1) | | | | | 520 | | | | 538,200 | |
| | | |
Synovus Financial Corp., 5.90% to 2/7/24, 2/7/29(19) | | | | | 1,011 | | | | 1,090,136 | |
| |
| | | $ | 25,676,258 | |
| | | | |
| | 16 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Financial Services — 0.6% | |
| | | |
Banco BTG Pactual S.A./Cayman Islands, 4.50%, 1/10/25(1) | | | | | 1,100 | | | $ | 1,131,636 | |
| | | |
Bank of America Corp., 1.922% to 10/24/30, 10/24/31(19) | | | | | 1,819 | | | | 1,751,216 | |
| | | |
Brookfield Finance, Inc., 4.70%, 9/20/47 | | | | | 1,050 | | | | 1,273,583 | |
| | | |
Carlyle Finance Subsidiary, LLC, 3.50%, 9/19/29(1) | | | | | 1,000 | | | | 1,076,464 | |
| | | |
Nordea Bank Abp, 4.625% to 9/13/28, 9/13/33(1)(19) | | | | | 1,000 | | | | 1,125,412 | |
| | | |
Vietnam Debt and Asset Trading Corp., 1.00%, 10/10/25(17) | | | | | 2,600 | | | | 2,372,825 | |
| |
| | | $ | 8,731,136 | |
|
Food Products — 1.4% | |
| | | |
Bellis Acquisition Co. PLC, 3.25%, 2/16/26(17) | | GBP | | | 100 | | | $ | 132,686 | |
| | | |
Chobani, LLC/Chobani Finance Corp., Inc., 4.625%, 11/15/28(1) | | | | | 436 | | | | 450,715 | |
| | | |
HLF Financing S.a.r.l. LLC/Herbalife International, Inc., 4.875%, 6/1/29(1) | | | | | 1,696 | | | | 1,698,120 | |
| | | |
Ingles Markets, Inc., 4.00%, 6/15/31(1) | | | | | 854 | | | | 866,080 | |
| | | |
JBS USA LUX S.A./JBS USA Finance, Inc., 6.75%, 2/15/28(1) | | | | | 650 | | | | 705,256 | |
| | | |
JBS USA LUX S.A./JBS USA Food Co./JBS USA Finance, Inc., 5.50%, 1/15/30(1) | | | | | 2,391 | | | | 2,662,307 | |
| | | |
Kraft Heinz Foods Co.: | | | | | | | | |
| | | |
3.875%, 5/15/27 | | | | | 1,261 | | | | 1,377,633 | |
| | | |
4.25%, 3/1/31 | | | | | 2,286 | | | | 2,585,871 | |
| | | |
4.375%, 6/1/46 | | | | | 2,212 | | | | 2,521,365 | |
| | | |
4.625%, 10/1/39 | | | | | 425 | | | | 496,351 | |
| | | |
4.875%, 10/1/49 | | | | | 600 | | | | 731,645 | |
| | | |
5.50%, 6/1/50 | | | | | 1,261 | | | | 1,666,793 | |
| | | |
Nomad Foods Bondco PLC, 2.50%, 6/24/28(17) | | EUR | | | 136 | | | | 160,131 | |
| | | |
Pilgrim’s Pride Corp., 3.50%, 3/1/32(1) | | | | | 2,175 | | | | 2,214,422 | |
| | | |
Post Holdings, Inc.: | | | | | | | | |
| | | |
4.50%, 9/15/31(1) | | | | | 1,405 | | | | 1,390,079 | |
| | | |
4.625%, 4/15/30(1) | | | | | 1,158 | | | | 1,168,399 | |
| | | |
Smithfield Foods, Inc., 3.00%, 10/15/30(1) | | | | | 1,000 | | | | 1,007,732 | |
| |
| | | $ | 21,835,585 | |
|
Food Service — 0.5% | |
| | | |
1011778 B.C. Unlimited Liability Company/New Red Finance, Inc.: | | | | | | | | |
| | | |
3.875%, 1/15/28(1) | | | | | 1,906 | | | $ | 1,927,157 | |
| | | |
4.00%, 10/15/30(1) | | | | | 2,705 | | | | 2,681,331 | |
| | | |
4.375%, 1/15/28(1) | | | | | 1,014 | | | | 1,030,690 | |
| | | |
5.75%, 4/15/25(1) | | | | | 372 | | | | 391,009 | |
| | | |
IRB Holding Corp.: | | | | | | | | |
| | | |
6.75%, 2/15/26(1) | | | | | 448 | | | | 460,880 | |
| | | |
7.00%, 6/15/25(1) | | | | | 451 | | | | 479,402 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Food Service (continued) | |
| | | |
US Foods, Inc., 4.75%, 2/15/29(1) | | | | | 1,457 | | | $ | 1,497,221 | |
| |
| | | $ | 8,467,690 | |
|
Food / Drug Retailers — 0.2% | |
| | | |
Albertsons Cos., Inc./Safeway, Inc./New Albertsons, L.P./Albertsons, LLC: | | | | | | | | |
| | | |
4.875%, 2/15/30(1) | | | | | 1,042 | | | $ | 1,124,057 | |
| | | |
5.875%, 2/15/28(1) | | | | | 1,004 | | | | 1,070,515 | |
| | | |
Casino Guichard Perrachon S.A.: | | | | | | | | | | |
| | | |
4.048%, 8/5/26(17) | | EUR | | | 200 | | | | 226,168 | |
| | | |
5.25%, 4/15/27(17) | | EUR | | | 100 | | | | 116,721 | |
| |
| | | $ | 2,537,461 | |
|
Health Care — 3.6% | |
| | | |
Amgen, Inc., 3.375%, 2/21/50 | | | | | 700 | | | $ | 719,814 | |
| | | |
Anthem, Inc., 3.125%, 5/15/50 | | | | | 500 | | | | 506,415 | |
| | | |
Baxter International, Inc.: | | | | | | | | |
| | | |
3.50%, 8/15/46 | | | | | 500 | | | | 537,180 | |
| | | |
3.95%, 4/1/30 | | | | | 500 | | | | 568,535 | |
| | | |
Centene Corp.: | | | | | | | | | | |
| | | |
2.50%, 3/1/31 | | | | | 1,992 | | | | 1,967,100 | |
| | | |
3.00%, 10/15/30 | | | | | 2,345 | | | | 2,406,556 | |
| | | |
3.375%, 2/15/30 | | | | | 2,311 | | | | 2,395,467 | |
| | | |
4.25%, 12/15/27 | | | | | 1,795 | | | | 1,880,980 | |
| | | |
4.625%, 12/15/29 | | | | | 1,758 | | | | 1,918,066 | |
|
CHS/Community Health Systems, Inc.: | |
| | | |
6.125%, 4/1/30(1) | | | | | 1,585 | | | | 1,542,268 | |
| | | |
6.875%, 4/15/29(1) | | | | | 1,133 | | | | 1,137,232 | |
| | | |
DaVita, Inc., 4.625%, 6/1/30(1) | | | | | 687 | | | | 707,514 | |
| | | |
Emergent BioSolutions, Inc., 3.875%, 8/15/28(1) | | | | | 1,534 | | | | 1,493,733 | |
| | | |
Encompass Health Corp.: | | | | | | | | |
| | | |
4.50%, 2/1/28 | | | | | 557 | | | | 575,824 | |
| | | |
4.625%, 4/1/31 | | | | | 787 | | | | 828,160 | |
| | | |
4.75%, 2/1/30 | | | | | 1,098 | | | | 1,156,194 | |
| | | |
Gilead Sciences, Inc., 2.60%, 10/1/40 | | | | | 750 | | | | 714,894 | |
| | | |
Grifols Escrow Issuer S.A.: | | | | | | | | |
| | | |
3.875%, 10/15/28(3)(17) | | EUR | | | 344 | | | | 403,658 | |
| | | |
4.75%, 10/15/28(1)(3) | | | | | 1,060 | | | | 1,084,380 | |
| | | |
Grifols S.A., 3.20%, 5/1/25(17) | | EUR | | | 250 | | | | 290,997 | |
| | | |
HCA, Inc.: | | | | | | | | |
| | | |
5.375%, 9/1/26 | | | | | 1,610 | | | | 1,844,094 | |
| | | |
5.625%, 9/1/28 | | | | | 1,472 | | | | 1,753,078 | |
| | | |
5.875%, 2/15/26 | | | | | 2,705 | | | | 3,103,987 | |
| | | |
5.875%, 2/1/29 | | | | | 1,076 | | | | 1,294,361 | |
| | | | |
| | 17 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Health Care (continued) | |
| | | |
IQVIA, Inc.: | | | | | | | | | |
| | | |
2.25%, 1/15/28(17) | | | EUR | | | | 250 | | | $ | 291,917 | |
| | | |
5.00%, 10/15/26(1) | | | | | | | 850 | | | | 872,202 | |
|
Legacy LifePoint Health, LLC: | |
| | | |
4.375%, 2/15/27(1) | | | | | | | 668 | | | | 667,165 | |
| | | |
6.75%, 4/15/25(1) | | | | | | | 731 | | | | 769,085 | |
| | | |
LifePoint Health, Inc., 5.375%, 1/15/29(1) | | | | | | | 1,850 | | | | 1,802,427 | |
| | | |
ModivCare Escrow Issuer, Inc., 5.00%, 10/1/29(1) | | | | | | | 759 | | | | 787,690 | |
| | | |
ModivCare, Inc., 5.875%, 11/15/25(1) | | | | | | | 1,122 | | | | 1,187,918 | |
| | | |
Molina Healthcare, Inc.: | | | | | | | | | |
| | | |
3.875%, 11/15/30(1) | | | | | | | 1,511 | | | | 1,580,884 | |
| | | |
4.375%, 6/15/28(1) | | | | | | | 609 | | | | 634,353 | |
| | | |
Mozart Debt Merger Sub, Inc., 5.25%, 10/1/29(1)(3) | | | | | | | 3,620 | | | | 3,620,000 | |
| | | |
STERIS Irish FinCo Unlimited Co., 3.75%, 3/15/51 | | | | | | | 750 | | | | 811,007 | |
| | | |
Team Health Holdings, Inc., 6.375%, 2/1/25(1) | | | | | | | 2,350 | | | | 2,275,246 | |
| | | |
Tenet Healthcare Corp.: | | | | | | | | | |
| | | |
4.625%, 9/1/24(1) | | | | | | | 268 | | | | 274,365 | |
| | | |
4.625%, 6/15/28(1) | | | | | | | 377 | | | | 391,121 | |
| | | |
4.875%, 1/1/26(1) | | | | | | | 1,607 | | | | 1,665,125 | |
| | | |
5.125%, 11/1/27(1) | | | | | | | 1,607 | | | | 1,677,306 | |
| | | |
6.75%, 6/15/23 | | | | | | | 456 | | | | 492,138 | |
| | | |
Thermo Fisher Scientific, Inc., 4.10%, 8/15/47 | | | | | | | 400 | | | | 485,747 | |
| | | |
UnitedHealth Group, Inc., 3.75%, 10/15/47 | | | | | | | 650 | | | | 743,199 | |
| | | |
US Acute Care Solutions, LLC, 6.375%, 3/1/26(1) | | | | | | | 2,115 | | | | 2,233,969 | |
| | | |
Varex Imaging Corp., 7.875%, 10/15/27(1) | | | | | | | 1,146 | | | | 1,290,912 | |
| | | |
| | | | | | | | | | $ | 55,384,263 | |
|
Home Furnishings — 0.1% | |
| | | |
Harman International Industries, Inc., 4.15%, 5/15/25 | | | | | | | 940 | | | $ | 1,028,653 | |
| | | |
Tempur Sealy International, Inc., 3.875%, 10/15/31(1) | | | | | | | 627 | | | | 628,568 | |
| | | |
| | | | | | | | | | $ | 1,657,221 | |
|
Homebuilders / Real Estate — 0.0%(11) | |
| | | |
M/I Homes, Inc., 4.95%, 2/1/28 | | | | | | | 459 | | | $ | 480,803 | |
| | | |
| | | | | | | | | | $ | 480,803 | |
|
Industrial Equipment — 0.2% | |
| | | |
Madison IAQ, LLC: | | | | | | | | | |
| | | |
4.125%, 6/30/28(1) | | | | | | | 957 | | | $ | 958,210 | |
| | | |
5.875%, 6/30/29(1) | | | | | | | 1,627 | | | | 1,641,326 | |
| | | |
Vertical Midco GmbH, 4.75%, (3 mo. EURIBOR + 4.75%), 7/15/27(2)(17) | | | EUR | | | | 115 | | | | 134,722 | |
| | | |
| | | | | | | | | | $ | 2,734,258 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Insurance — 0.6% | |
| | | |
Alliant Holdings Intermediate, LLC/Alliant Holdings Co-Issuer, 6.75%, 10/15/27(1) | | | | | | | 2,287 | | | $ | 2,370,087 | |
| | | |
AmWINS Group, Inc., 4.875%, 6/30/29(1) | | | | | | | 1,010 | | | | 1,025,453 | |
| | | |
AssuredPartners, Inc., 5.625%, 1/15/29(1) | | | | | | | 450 | | | | 453,449 | |
| | | |
Athene Holding, Ltd., 3.95%, 5/25/51 | | | | | | | 750 | | | | 830,440 | |
| | | |
BroadStreet Partners, Inc., 5.875%, 4/15/29(1) | | | | | | | 1,415 | | | | 1,411,611 | |
| | | |
Galaxy Finco, Ltd., 9.25%, 7/31/27(17) | | | GBP | | | | 575 | | | | 817,986 | |
| | | |
GTCR AP Finance, Inc., 8.00%, 5/15/27(1) | | | | | | | 820 | | | | 866,383 | |
| | | |
Liberty Mutual Group, Inc., 4.125% to 12/15/26, 12/15/51(1)(19) | | | | | | | 250 | | | | 257,066 | |
| | | |
MetLife, Inc., 4.05%, 3/1/45 | | | | | | | 300 | | | | 356,998 | |
| | | |
Radian Group, Inc., 4.875%, 3/15/27 | | | | | | | 1,032 | | | | 1,126,763 | |
| | | |
| | | | | | | | | | $ | 9,516,236 | |
|
Internet Software & Services — 0.8% | |
| | | |
Cars.com, Inc., 6.375%, 11/1/28(1) | | | | | | | 1,152 | | | $ | 1,216,823 | |
| | | |
CDK Global, Inc., 5.25%, 5/15/29(1) | | | | | | | 499 | | | | 539,608 | |
|
Netflix, Inc.: | |
| | | |
3.00%, 6/15/25(17) | | | EUR | | | | 100 | | | | 126,036 | |
| | | |
3.625%, 6/15/30(17) | | | EUR | | | | 350 | | | | 486,879 | |
| | | |
4.875%, 4/15/28 | | | | | | | 1,665 | | | | 1,920,994 | |
| | | |
4.875%, 6/15/30(1) | | | | | | | 1,300 | | | | 1,532,375 | |
| | | |
5.375%, 11/15/29(1) | | | | | | | 1,000 | | | | 1,212,500 | |
| | | |
5.50%, 2/15/22 | | | | | | | 1,825 | | | | 1,856,846 | |
| | | |
5.875%, 11/15/28 | | | | | | | 1,810 | | | | 2,220,236 | |
| | | |
Science Applications International Corp., 4.875%, 4/1/28(1) | | | | | | | 1,277 | | | | 1,321,312 | |
| | | |
United Group B.V., 4.00%, 11/15/27(17) | | | EUR | | | | 100 | | | | 114,726 | |
| | | |
| | | | | | | | | | $ | 12,548,335 | |
|
Leisure Goods / Activities / Movies — 1.6% | |
|
AMC Entertainment Holdings, Inc.: | |
| | | |
10.50%, 4/15/25(1) | | | | | | | 581 | | | $ | 622,396 | |
| | | |
12.00%, (10.00% cash or 12.00% PIK), 6/15/26(1)(18) | | | | | | | 1,275 | | | | 1,235,156 | |
|
Carnival Corp.: | |
| | | |
5.75%, 3/1/27(1) | | | | | | | 1,316 | | | | 1,362,060 | |
| | | |
7.625%, 3/1/26(1) | | | | | | | 539 | | | | 576,056 | |
| | | |
7.625%, 3/1/26(17) | | | EUR | | | | 133 | | | | 166,717 | |
| | | |
11.50%, 4/1/23(1) | | | | | | | 531 | | | | 593,393 | |
| | | |
Carnival PLC, 1.00%, 10/28/29 | | | EUR | | | | 220 | | | | 198,938 | |
| | | |
Cinemark USA, Inc.: | | | | | | | | | | | | |
| | | |
5.25%, 7/15/28(1) | | | | | | | 1,257 | | | | 1,239,955 | |
| | | |
5.875%, 3/15/26(1) | | | | | | | 414 | | | | 418,693 | |
| | | |
8.75%, 5/1/25(1) | | | | | | | 303 | | | | 325,460 | |
| | | | |
| | 18 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Leisure Goods / Activities / Movies (continued) | |
| | | |
Dometic Group AB, 2.00%, 9/29/28(17) | | | EUR | | | | 145 | | | $ | 166,740 | |
| | | |
Explorer II AS, 3.375%, 2/24/25 | | | EUR | | | | 400 | | | | 444,183 | |
| | | |
LHMC Finco 2 S.a.r.l., 7.25%, (7.25% cash or 8.00% PIK), 10/2/25(17)(18) | | | EUR | | | | 421 | | | | 498,118 | |
|
Life Time, Inc.: | |
| | | |
5.75%, 1/15/26(1) | | | | | | | 1,268 | | | | 1,313,965 | |
| | | |
8.00%, 4/15/26(1) | | | | | | | 1,293 | | | | 1,372,196 | |
| | | |
Motion Finco S.a.r.l., 7.00%, 5/15/25(17) | | | EUR | | | | 200 | | | | 243,775 | |
|
National CineMedia, LLC: | |
| | | |
5.75%, 8/15/26 | | | | | | | 1,186 | | | | 950,876 | |
| | | |
5.875%, 4/15/28(1) | | | | | | | 1,559 | | | | 1,429,276 | |
|
NCL Corp., Ltd.: | |
| | | |
3.625%, 12/15/24(1) | | | | | | | 1,065 | | | | 1,013,081 | |
| | | |
5.875%, 3/15/26(1) | | | | | | | 662 | | | | 679,440 | |
| | | |
10.25%, 2/1/26(1) | | | | | | | 955 | | | | 1,097,438 | |
| | | |
NCL Finance, Ltd., 6.125%, 3/15/28(1) | | | | | | | 343 | | | | 356,451 | |
| | | |
Playtika Holding Corp., 4.25%, 3/15/29(1) | | | | | | | 1,382 | | | | 1,388,136 | |
| | | |
Royal Caribbean Cruises, Ltd., 3.70%, 3/15/28 | | | | | | | 692 | | | | 663,884 | |
| | | |
SeaWorld Parks & Entertainment, Inc., 5.25%, 8/15/29(1) | | | | | | | 1,166 | | | | 1,194,421 | |
|
Viking Cruises, Ltd.: | |
| | | |
5.875%, 9/15/27(1) | | | | | | | 3,081 | | | | 2,986,506 | |
| | | |
6.25%, 5/15/25(1) | | | | | | | 1,690 | | | | 1,699,447 | |
| | | |
7.00%, 2/15/29(1) | | | | | | | 658 | | | | 666,465 | |
| | | |
Viking Ocean Cruises Ship VII, Ltd., 5.625%, 2/15/29(1) | | | | | | | 422 | | | | 422,745 | |
| | | |
| | | | | | | | | | $ | 25,325,967 | |
|
Lodging and Casinos — 1.2% | |
| | | |
Accor S.A., 4.375% to 1/30/24(17)(19)(20) | | | EUR | | | | 300 | | | $ | 359,540 | |
| | | |
Gateway Casinos & Entertainment, Ltd., 8.25%, 3/1/24(1) | | | | | | | 2,831 | | | | 2,886,162 | |
| | | |
MGM Growth Properties Operating Partnership, L.P./ MGP Finance Co-Issuer, Inc.: | | | | | | | | | |
| | | |
4.50%, 9/1/26 | | | | | | | 895 | | | | 974,431 | |
| | | |
5.625%, 5/1/24 | | | | | | | 480 | | | | 522,600 | |
| | | |
5.75%, 2/1/27 | | | | | | | 573 | | | | 659,666 | |
|
MGM Resorts International: | |
| | | |
4.75%, 10/15/28 | | | | | | | 1,637 | | | | 1,727,035 | |
| | | |
5.75%, 6/15/25 | | | | | | | 948 | | | | 1,034,505 | |
| | | |
7.75%, 3/15/22 | | | | | | | 2,300 | | | | 2,366,125 | |
| | | |
NH Hotel Group S.A., 4.00%, 7/2/26(17) | | | EUR | | | | 100 | | | | 117,490 | |
| | | |
Peninsula Pacific Entertainment, LLC/Peninsula Pacific Entertainment Finance, Inc., 8.50%, 11/15/27(1) | | | | | | | 2,086 | | | | 2,242,586 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Lodging and Casinos (continued) | |
|
VICI Properties, L.P./VICI Note Co., Inc.: | |
| | | |
3.75%, 2/15/27(1) | | | | | | | 323 | | | $ | 334,709 | |
| | | |
4.125%, 8/15/30(1) | | | | | | | 1,108 | | | | 1,175,865 | |
| | | |
4.25%, 12/1/26(1) | | | | | | | 1,653 | | | | 1,728,344 | |
| | | |
4.625%, 12/1/29(1) | | | | | | | 2,359 | | | | 2,538,874 | |
| | | |
| | | | | | | | | | $ | 18,667,932 | |
|
Machinery — 0.1% | |
| | | |
Flowserve Corp., 3.50%, 10/1/30 | | | | | | | 244 | | | $ | 255,074 | |
| | | |
IMA Industria Macchine Automatiche SpA, 3.75%, 1/15/28(17) | | | EUR | | | | 221 | | | | 258,421 | |
| | | |
nVent Finance S.a.r.l., 4.55%, 4/15/28 | | | | | | | 1,500 | | | | 1,647,521 | |
| | | |
| | | | | | | | | | $ | 2,161,016 | |
|
Media — 0.4% | |
| | | |
Beasley Mezzanine Holdings, LLC, 8.625%, 2/1/26(1) | | | | | | | 1,595 | | | $ | 1,629,460 | |
| | | |
Discovery Communications, LLC, 4.65%, 5/15/50 | | | | | | | 300 | | | | 348,346 | |
| | | |
Outfront Media Capital, LLC/Outfront Media Capital Corp.: | | | | | | | | | |
| | | |
4.625%, 3/15/30(1) | | | | | | | 127 | | | | 127,428 | |
| | | |
6.25%, 6/15/25(1) | | | | | | | 807 | | | | 853,402 | |
| | | |
Scripps Escrow II, Inc., 5.375%, 1/15/31(1) | | | | | | | 756 | | | | 744,377 | |
| | | |
Tele Columbus AG, 3.875%, 5/2/25(17) | | | EUR | | | | 300 | | | | 349,460 | |
| | | |
Telenet Finance Luxembourg S.a.r.l., 3.50%, 3/1/28(17) | | | EUR | | | | 200 | | | | 240,368 | |
| | | |
Urban One, Inc., 7.375%, 2/1/28(1) | | | | | | | 1,504 | | | | 1,614,559 | |
| | | |
| | | | | | | | | | $ | 5,907,400 | |
|
Metals / Mining — 1.0% | |
| | | |
Arconic Corp., 6.125%, 2/15/28(1) | | | | | | | 648 | | | $ | 687,703 | |
|
Cleveland-Cliffs, Inc.: | |
| | | |
6.75%, 3/15/26(1) | | | | | | | 2,808 | | | | 2,997,540 | |
| | | |
9.875%, 10/17/25(1) | | | | | | | 293 | | | | 336,584 | |
| | | |
Compass Minerals International, Inc., 6.75%, 12/1/27(1) | | | | | | | 3,005 | | | | 3,193,939 | |
|
Constellium N.V.: | |
| | | |
4.25%, 2/15/26(17) | | | EUR | | | | 150 | | | | 176,277 | |
| | | |
5.875%, 2/15/26(1) | | | | | | | 837 | | | | 850,924 | |
| | | |
Freeport-McMoRan, Inc., 5.45%, 3/15/43 | | | | | | | 1,821 | | | | 2,244,382 | |
|
Hudbay Minerals, Inc.: | |
| | | |
4.50%, 4/1/26(1) | | | | | | | 1,085 | | | | 1,075,506 | |
| | | |
6.125%, 4/1/29(1) | | | | | | | 920 | | | | 964,896 | |
| | | |
Joseph T. Ryerson & Son, Inc., 8.50%, 8/1/28(1) | | | | | | | 798 | | | | 886,131 | |
|
Novelis Corp.: | |
| | | |
3.25%, 11/15/26(1) | | | | | | | 690 | | | | 700,681 | |
| | | |
4.75%, 1/30/30(1) | | | | | | | 1,068 | | | | 1,125,619 | |
| | | | |
| | 19 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Metals / Mining (continued) | |
| | | |
Novelis Sheet Ingot GmbH, 3.375%, 4/15/29(17) | | | EUR | | | | 200 | | | $ | 242,033 | |
| | | |
Roller Bearing Co. of America, Inc., 4.375%, 10/15/29(1)(3) | | | | | | | 808 | | | | 829,210 | |
| | | |
| | | | | | | | | | $ | 16,311,425 | |
|
Nonferrous Metals / Minerals — 0.4% | |
| | | |
Eldorado Gold Corp., 6.25%, 9/1/29(1) | | | | | | | 1,333 | | | $ | 1,322,929 | |
| | | |
First Quantum Minerals, Ltd., 7.50%, 4/1/25(1) | | | | | | | 1,615 | | | | 1,658,734 | |
|
New Gold, Inc.: | |
| | | |
6.375%, 5/15/25(1) | | | | | | | 671 | | | | 692,385 | |
| | | |
7.50%, 7/15/27(1) | | | | | | | 2,183 | | | | 2,249,669 | |
| | | |
| | | | | | | | | | $ | 5,923,717 | |
|
Oil and Gas — 5.0% | |
| | | |
Aethon III BR, LLC, 9.00%, (1 mo. USD LIBOR + 7.50%, Floor 1.50%), 10/1/25(2) | | | | | | | 2,366 | | | $ | 2,414,475 | |
| | | |
Aethon United BR, L.P./Aethon United Finance Corp., 8.25%, 2/15/26(1) | | | | | | | 2,170 | | | | 2,346,312 | |
| | | |
Archrock Partners, L.P./Archrock Partners Finance Corp., 6.25%, 4/1/28(1) | | | | | | | 756 | | | | 782,906 | |
| | | |
Buckeye Partners, L.P., 4.50%, 3/1/28(1) | | | | | | | 921 | | | | 936,431 | |
| | | |
Callon Petroleum Co., 8.00%, 8/1/28(1) | | | | | | | 1,287 | | | | 1,272,985 | |
|
Centennial Resource Production, LLC: | |
| | | |
5.375%, 1/15/26(1) | | | | | | | 245 | | | | 240,850 | |
| | | |
6.875%, 4/1/27(1) | | | | | | | 2,055 | | | | 2,096,819 | |
| | | |
CNX Resources Corp., 6.00%, 1/15/29(1) | | | | | | | 1,311 | | | | 1,388,021 | |
|
Colgate Energy Partners III, LLC: | |
| | | |
5.875%, 7/1/29(1) | | | | | | | 1,993 | | | | 2,010,479 | |
| | | |
7.75%, 2/15/26(1) | | | | | | | 1,166 | | | | 1,229,699 | |
|
Continental Resources, Inc.: | |
| | | |
4.375%, 1/15/28 | | | | | | | 754 | | | | 835,055 | |
| | | |
4.90%, 6/1/44 | | | | | | | 47 | | | | 52,699 | |
| | | |
5.75%, 1/15/31(1) | | | | | | | 1,458 | | | | 1,764,180 | |
|
CrownRock, L.P./CrownRock Finance, Inc.: | |
| | | |
5.00%, 5/1/29(1) | | | | | | | 1,889 | | | | 1,974,666 | |
| | | |
5.625%, 10/15/25(1) | | | | | | | 2,575 | | | | 2,638,602 | |
| | | |
CVR Energy, Inc., 5.75%, 2/15/28(1) | | | | | | | 2,905 | | | | 2,883,503 | |
| | | |
Endeavor Energy Resources, L.P./EER Finance, Inc., 5.75%, 1/30/28(1) | | | | | | | 250 | | | | 263,437 | |
| | | |
Energy Transfer, L.P., Series A, 6.25% to 2/15/23(19)(20) | | | | | | | 300 | | | | 269,160 | |
|
EQT Corp.: | |
| | | |
5.00%, 1/15/29 | | | | | | | 335 | | | | 377,612 | |
| | | |
6.625%, 2/1/25 | | | | | | | 407 | | | | 466,341 | |
| | | |
7.50%, 2/1/30 | | | | | | | 594 | | | | 765,339 | |
| | | | | | | | | | |
Security | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Oil and Gas (continued) | |
| | | |
Great Western Petroleum, LLC/Great Western Finance Corp., 12.00%, 9/1/25(1) | | | | | 1,436 | | | $ | 1,460,240 | |
| | | |
Helmerich & Payne, Inc., 2.90%, 9/29/31(1) | | | | | 268 | | | | 268,856 | |
|
Hilcorp Energy I, L.P./Hilcorp Finance Co.: | |
| | | |
5.75%, 2/1/29(1) | | | | | 700 | | | | 720,125 | |
| | | |
6.00%, 2/1/31(1) | | | | | 560 | | | | 576,408 | |
|
Laredo Petroleum, Inc.: | |
| | | |
9.50%, 1/15/25 | | | | | 414 | | | | 429,525 | |
| | | |
10.125%, 1/15/28 | | | | | 622 | | | | 673,377 | |
| | | |
Matador Resources Co., 5.875%, 9/15/26 | | | | | 1,543 | | | | 1,597,051 | |
| | | |
Nabors Industries, Inc., 9.00%, 2/1/25(1) | | | | | 661 | | | | 687,784 | |
|
Nabors Industries, Ltd.: | |
| | | |
7.25%, 1/15/26(1) | | | | | 617 | | | | 601,078 | |
| | | |
7.50%, 1/15/28(1) | | | | | 665 | | | | 631,198 | |
| | | |
National Fuel Gas Co., 2.95%, 3/1/31 | | | | | 915 | | | | 927,624 | |
| | | |
Neptune Energy Bondco PLC, 6.625%, 5/15/25(1) | | | | | 3,225 | | | | 3,324,217 | |
| | | |
NOV, Inc., 3.60%, 12/1/29 | | | | | 248 | | | | 261,016 | |
| | | |
Oasis Petroleum, Inc., 6.375%, 6/1/26(1) | | | | | 1,111 | | | | 1,165,578 | |
|
Occidental Petroleum Corp.: | |
| | | |
3.40%, 4/15/26 | | | | | 455 | | | | 467,230 | |
| | | |
3.45%, 7/15/24 | | | | | 244 | | | | 250,511 | |
| | | |
3.50%, 8/15/29 | | | | | 599 | | | | 610,004 | |
| | | |
4.20%, 3/15/48 | | | | | 931 | | | | 893,085 | |
| | | |
4.40%, 8/15/49 | | | | | 748 | | | | 735,306 | |
| | | |
4.625%, 6/15/45 | | | | | 499 | | | | 511,116 | |
| | | |
6.125%, 1/1/31 | | | | | 1,203 | | | | 1,445,675 | |
| | | |
6.20%, 3/15/40 | | | | | 480 | | | | 566,196 | |
| | | |
6.45%, 9/15/36 | | | | | 615 | | | | 774,516 | |
| | | |
6.625%, 9/1/30 | | | | | 1,511 | | | | 1,864,196 | |
| | | |
8.50%, 7/15/27 | | | | | 1,965 | | | | 2,464,660 | |
| | | |
8.875%, 7/15/30 | | | | | 1,685 | | | | 2,291,061 | |
|
Ovintiv, Inc.: | |
| | | |
6.50%, 8/15/34 | | | | | 49 | | | | 66,166 | |
| | | |
6.50%, 2/1/38 | | | | | 1,615 | | | | 2,226,023 | |
| | | |
6.625%, 8/15/37 | | | | | 114 | | | | 156,654 | |
| | | |
8.125%, 9/15/30 | | | | | 248 | | | | 341,635 | |
| | | |
Patterson-UTI Energy, Inc., 3.95%, 2/1/28 | | | | | 1,310 | | | | 1,317,210 | |
| | | |
PBF Holding Co., LLC/PBF Finance Corp., 9.25%, 5/15/25(1) | | | | | 2,538 | | | | 2,408,219 | |
| | | |
Petrobras Global Finance B.V., 6.90%, 3/19/49 | | | | | 683 | | | | 761,733 | |
| | | |
Petroleos Mexicanos: | | | | | | | | |
| | | |
6.75%, 9/21/47 | | | | | 1,747 | | | | 1,526,354 | |
| | | |
6.84%, 1/23/30 | | | | | 716 | | | | 740,501 | |
|
Precision Drilling Corp.: | |
| | | |
6.875%, 1/15/29(1) | | | | | 932 | | | | 974,872 | |
| | | |
7.125%, 1/15/26(1) | | | | | 500 | | | | 514,570 | |
| | | | |
| | 20 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Oil and Gas (continued) | |
|
Shelf Drilling Holdings, Ltd.: | |
| | | |
8.25%, 2/15/25(1) | | | | | | | 1,535 | | | $ | 1,207,477 | |
| | | |
8.875%, 11/15/24(1) | | | | | | | 441 | | | | 453,498 | |
| | | |
Southwestern Energy Co., 8.375%, 9/15/28 | | | | | | | 1,007 | | | | 1,141,918 | |
| | | |
Tap Rock Resources, LLC, 7.00%, 10/1/26(1) | | | | | | | 1,848 | | | | 1,894,200 | |
| | | |
Targa Resources Partners, L.P./Targa Resources Partners Finance Corp.: | | | | | | | | | |
| | | |
4.00%, 1/15/32(1) | | | | | | | 1,038 | | | | 1,074,019 | |
| | | |
4.875%, 2/1/31 | | | | | | | 233 | | | | 251,640 | |
| | | |
5.50%, 3/1/30 | | | | | | | 224 | | | | 245,210 | |
| | | |
5.875%, 4/15/26 | | | | | | | 985 | | | | 1,029,941 | |
| | | |
6.50%, 7/15/27 | | | | | | | 566 | | | | 610,986 | |
| | | |
TechnipFMC PLC, 6.50%, 2/1/26(1) | | | | | | | 242 | | | | 259,615 | |
| | | |
Tervita Corp., 11.00%, 12/1/25(1) | | | | | | | 819 | | | | 928,136 | |
| | | |
Transocean Pontus, Ltd., 6.125%, 8/1/25(1) | | | | | | | 486 | | | | 487,285 | |
| | | |
Transocean Poseidon, Ltd., 6.875%, 2/1/27(1) | | | | | | | 1,068 | | | | 1,064,321 | |
| | | |
Valero Energy Corp., 4.00%, 4/1/29 | | | | | | | 1,250 | | | | 1,375,063 | |
| | | |
Williams Cos., Inc. (The), 5.75%, 6/24/44 | | | | | | | 790 | | | | 1,042,315 | |
| | | |
| | | | | | | | | | $ | 77,306,765 | |
|
Packaging & Containers — 0.1% | |
| | | |
Kleopatra Finco S.a.r.l., 4.25%, 3/1/26(17) | | | EUR | | | | 350 | | | $ | 397,460 | |
| | | |
Trivium Packaging Finance B.V., 3.75%, 8/15/26(17) | | | EUR | | | | 280 | | | | 332,643 | |
| | | |
| | | | | | | | | | $ | 730,103 | |
|
Pharmaceuticals — 0.4% | |
| | | |
180 Medical, Inc., 3.875%, 10/15/29(1)(3) | | | | | | | 759 | | | $ | 759,000 | |
|
AstraZeneca PLC: | |
| | | |
0.70%, 4/8/26 | | | | | | | 1,500 | | | | 1,469,211 | |
| | | |
3.00%, 5/28/51 | | | | | | | 500 | | | | 516,669 | |
| | | |
Diocle SpA, 3.875%, (3 mo. EURIBOR + 3.875%), 6/30/26(2)(17) | | | EUR | | | | 111 | | | | 129,083 | |
| | | |
Gruenenthal GmbH, 4.125%, 5/15/28(17) | | | EUR | | | | 101 | | | | 122,862 | |
| | | |
Herbalife Nutrition, Ltd./HLF Financing, Inc., 7.875%, 9/1/25(1) | | | | | | | 1,169 | | | | 1,255,214 | |
| | | |
Owens & Minor, Inc., 4.50%, 3/31/29(1) | | | | | | | 1,120 | | | | 1,132,600 | |
| | | |
Rossini S.a.r.l., 3.875%, (3 mo. EURIBOR + 3.875%), 10/30/25(2)(17) | | | EUR | | | | 300 | | | | 349,042 | |
| | | |
| | | | | | | | | | $ | 5,733,681 | |
|
Pipelines — 1.4% | |
| | | |
Antero Midstream Partners, L.P./Antero Midstream Finance Corp.: | | | | | | | | | |
| | | |
5.75%, 3/1/27(1) | | | | | | | 1,874 | | | $ | 1,938,278 | |
| | | |
7.875%, 5/15/26(1) | | | | | | | 879 | | | | 962,690 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Pipelines (continued) | |
|
Cheniere Energy Partners, L.P.: | |
| | | |
4.00%, 3/1/31(1) | | | | | | | 2,706 | | | $ | 2,837,106 | |
| | | |
4.50%, 10/1/29 | | | | | | | 1,722 | | | | 1,832,862 | |
| | | |
Cheniere Energy, Inc., 4.625%, 10/15/28 | | | | | | | 1,122 | | | | 1,183,710 | |
| | | |
DT Midstream, Inc., 4.125%, 6/15/29(1) | | | | | | | 1,449 | | | | 1,471,184 | |
|
EQM Midstream Partners, L.P.: | |
| | | |
4.50%, 1/15/29(1) | | | | | | | 871 | | | | 904,751 | |
| | | |
4.75%, 1/15/31(1) | | | | | | | 871 | | | | 906,946 | |
| | | |
6.00%, 7/1/25(1) | | | | | | | 699 | | | | 767,118 | |
| | | |
6.50%, 7/1/27(1) | | | | | | | 702 | | | | 790,452 | |
| | | |
Genesis Energy, L.P./Genesis Energy Finance Corp., 8.00%, 1/15/27 | | | | | | | 1,085 | | | | 1,099,989 | |
| | | |
Kinder Morgan, Inc., 5.05%, 2/15/46 | | | | | | | 500 | | | | 605,697 | |
| | | |
Magellan Midstream Partners, L.P., 4.20%, 10/3/47 | | | | | | | 300 | | | | 330,522 | |
| | | |
Plains All American Pipeline, L.P., Series B, 6.125% to 11/15/22(19)(20) | | | | | | | 1,954 | | | | 1,778,140 | |
| | | |
TransCanada PipeLines, Ltd., 4.75%, 5/15/38 | | | | | | | 390 | | | | 465,567 | |
|
Venture Global Calcasieu Pass, LLC: | |
| | | |
3.875%, 8/15/29(1) | | | | | | | 1,116 | | | | 1,150,931 | |
| | | |
4.125%, 8/15/31(1) | | | | | | | 992 | | | | 1,035,400 | |
| | | |
Western Midstream Operating, L.P.: | | | | | | | | | | | | |
| | | |
4.50%, 3/1/28 | | | | | | | 148 | | | | 159,020 | |
| | | |
4.75%, 8/15/28 | | | | | | | 150 | | | | 163,835 | |
| | | |
5.30% to 2/1/22, 2/1/30(22) | | | | | | | 1,187 | | | | 1,313,119 | |
| | | |
| | | | | | | | | | $ | 21,697,317 | |
|
Private Equity — 0.0%(11) | |
| | | |
KKR Group Finance Co. VII, LLC, 3.625%, 2/25/50(1) | | | | | | | 400 | | | $ | 430,693 | |
| | | |
| | | | | | | | | | $ | 430,693 | |
|
Publishing — 0.0%(11) | |
| | | |
Adevinta ASA, 3.00%, 11/15/27(17) | | | EUR | | | | 100 | | | $ | 119,336 | |
| | | |
| | | | | | | | | | $ | 119,336 | |
|
Radio and Television — 1.2% | |
| | | |
Audacy Capital Corp., 6.75%, 3/31/29(1) | | | | | | | 1,627 | | | $ | 1,641,968 | |
|
Clear Channel Outdoor Holdings, Inc.: | |
| | | |
7.50%, 6/1/29(1) | | | | | | | 1,168 | | | | 1,216,180 | |
| | | |
7.75%, 4/15/28(1) | | | | | | | 1,517 | | | | 1,598,675 | |
| | | |
Clear Channel Worldwide Holdings, Inc., 5.125%, 8/15/27(1) | | | | | | | 740 | | | | 766,736 | |
| | | |
Diamond Sports Group, LLC/Diamond Sports Finance Co., 5.375%, 8/15/26(1) | | | | | | | 2,646 | | | | 1,749,668 | |
| | | | |
| | 21 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Radio and Television (continued) | |
|
iHeartCommunications, Inc.: | |
| | | |
6.375%, 5/1/26 | | | | | | | 179 | | | $ | 189,130 | |
| | | |
8.375%, 5/1/27 | | | | | | | 324 | | | | 347,213 | |
| | | |
Mav Acquisition Corp., 8.00%, 8/1/29(1) | | | | | | | 1,541 | | | | 1,474,498 | |
|
Sirius XM Radio, Inc.: | |
| | | |
3.125%, 9/1/26(1) | | | | | | | 946 | | | | 960,190 | |
| | | |
3.875%, 9/1/31(1) | | | | | | | 951 | | | | 930,197 | |
| | | |
5.00%, 8/1/27(1) | | | | | | | 1,609 | | | | 1,683,416 | |
| | | |
Terrier Media Buyer, Inc., 8.875%, 12/15/27(1) | | | | | | | 3,533 | | | | 3,740,352 | |
| | | |
Townsquare Media, Inc., 6.875%, 2/1/26(1) | | | | | | | 1,492 | | | | 1,567,063 | |
| | | |
Univision Communications, Inc., 4.50%, 5/1/29(1) | | | | | | | 1,141 | | | | 1,160,968 | |
| | | |
| | | | | | | | | | $ | 19,026,254 | |
|
Real Estate Investment Trusts (REITs) — 0.9% | |
|
ADLER Group S.A.: | |
| | | |
2.25%, 1/14/29(17) | | | EUR | | | | 300 | | | $ | 285,227 | |
| | | |
2.75%, 11/13/26(17) | | | EUR | | | | 200 | | | | 199,815 | |
| | | |
3.25%, 8/5/25(17) | | | EUR | | | | 100 | | | | 102,731 | |
| | | |
Aedas Homes Opco SLU, 4.00%, 8/15/26(17) | | | EUR | | | | 105 | | | | 126,139 | |
| | | |
American Assets Trust, L.P., 3.375%, 2/1/31 | | | | | | | 1,000 | | | | 1,037,144 | |
| | | |
Broadstone Net Lease, LLC, 2.60%, 9/15/31 | | | | | | | 309 | | | | 305,569 | |
| | | |
EPR Properties, 3.75%, 8/15/29 | | | | | | | 565 | | | | 582,894 | |
| | | |
Extra Space Storage, L.P., 2.55%, 6/1/31 | | | | | | | 399 | | | | 400,335 | |
|
HAT Holdings I, LLC/HAT Holdings II, LLC: | |
| | | |
3.75%, 9/15/30(1) | | | | | | | 905 | | | | 915,661 | |
| | | |
6.00%, 4/15/25(1) | | | | | | | 716 | | | | 749,115 | |
| | | |
Heimstaden Bostad AB, 3.00% to 10/29/27(17)(19)(20) | | | EUR | | | | 352 | | | | 403,165 | |
| | | |
Neinor Homes S.A., 4.50%, 10/15/26(17) | | | EUR | | | | 100 | | | | 120,000 | |
| | | |
Newmark Group, Inc., 6.125%, 11/15/23 | | | | | | | 2,126 | | | | 2,302,990 | |
| | | |
Rexford Industrial Realty, L.P., 2.15%, 9/1/31 | | | | | | | 333 | | | | 321,308 | |
| | | |
Sabra Health Care, L.P., 3.20%, 12/1/31 | | | | | | | 823 | | | | 807,045 | |
|
Service Properties Trust: | |
| | | |
3.95%, 1/15/28 | | | | | | | 2,060 | | | | 1,944,609 | |
| | | |
4.75%, 10/1/26 | | | | | | | 995 | | | | 986,294 | |
| | | |
4.95%, 10/1/29 | | | | | | | 158 | | | | 154,812 | |
| | | |
5.50%, 12/15/27 | | | | | | | 307 | | | | 327,439 | |
| | | |
7.50%, 9/15/25 | | | | | | | 993 | | | | 1,115,314 | |
| | | |
Signa Development Finance SCS, 5.50%, 7/23/26(17) | | | EUR | | | | 200 | | | | 216,945 | |
| | | |
Sun Communities Operating, L.P.: | | | | | | | | | |
| | | |
2.30%, 11/1/28(3) | | | | | | | 245 | | | | 245,606 | |
| | | |
2.70%, 7/15/31 | | | | | | | 261 | | | | 264,014 | |
| | | |
Vornado Realty, L.P., 3.40%, 6/1/31 | | | | | | | 219 | | | | 226,891 | |
| | | |
WP Carey, Inc., 3.85%, 7/15/29 | | | | | | | 159 | | | | 176,320 | |
| | | |
| | | | | | | | | | $ | 14,317,382 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Retail — 0.6% | |
| | | |
Carrols Restaurant Group, Inc., 5.875%, 7/1/29(1) | | | | | | | 712 | | | $ | 671,128 | |
| | | |
Dufry One B.V.: | | | | | | | | | |
| | | |
2.00%, 2/15/27(17) | | | EUR | | | | 100 | | | | 110,681 | |
| | | |
2.50%, 10/15/24(17) | | | EUR | | | | 200 | | | | 229,557 | |
| | | |
3.375%, 4/15/28(17) | | | EUR | | | | 139 | | | | 160,206 | |
| | | |
eG Global Finance PLC, 6.25%, 10/30/25(17) | | | EUR | | | | 300 | | | | 355,841 | |
|
Gap, Inc. (The): | |
| | | |
3.625%, 10/1/29(1) | | | | | | | 818 | | | | 821,067 | |
| | | |
3.875%, 10/1/31(1) | | | | | | | 481 | | | | 481,601 | |
| | | |
Group 1 Automotive, Inc., 4.00%, 8/15/28(1) | | | | | | | 895 | | | | 911,781 | |
| | | |
Ken Garff Automotive, LLC, 4.875%, 9/15/28(1) | | | | | | | 957 | | | | 984,983 | |
| | | |
LCM Investments Holdings II, LLC, 4.875%, 5/1/29(1) | | | | | | | 1,652 | | | | 1,697,133 | |
| | | |
Punch Finance PLC, 6.125%, 6/30/26(17) | | | GBP | | | | 125 | | | | 172,695 | |
| | | |
Stonegate Pub Co. Financing 2019 PLC, 8.25%, 7/31/25(17) | | | GBP | | | | 100 | | | | 142,021 | |
| | | |
Suburban Propane Partners, L.P./Suburban Energy Finance Corp., 5.00%, 6/1/31(1) | | | | | | | 824 | | | | 855,930 | |
| | | |
Victoria’s Secret & Co., 4.625%, 7/15/29(1) | | | | | | | 1,445 | | | | 1,474,586 | |
| | | |
Walgreens Boots Alliance, Inc., 4.10%, 4/15/50 | | | | | | | 618 | | | | 685,089 | |
| | | |
| | | | | | | | | | $ | 9,754,299 | |
|
Retailers (Except Food and Drug) — 1.0% | |
| | | |
Dave & Buster’s, Inc., 7.625%, 11/1/25(1) | | | | | | | 2,493 | | | $ | 2,670,527 | |
|
L Brands, Inc.: | |
| | | |
6.625%, 10/1/30(1) | | | | | | | 884 | | | | 1,004,445 | |
| | | |
6.75%, 7/1/36 | | | | | | | 437 | | | | 542,426 | |
| | | |
6.875%, 11/1/35 | | | | | | | 1,651 | | | | 2,074,069 | |
| | | |
6.95%, 3/1/33 | | | | | | | 415 | | | | 490,225 | |
| | | |
7.60%, 7/15/37 | | | | | | | 254 | | | | 320,973 | |
| | | |
9.375%, 7/1/25(1) | | | | | | | 182 | | | | 231,138 | |
| | | |
Macy’s Retail Holdings, LLC, 4.30%, 2/15/43 | | | | | | | 1,252 | | | | 1,091,613 | |
|
Murphy Oil USA, Inc.: | |
| | | |
4.75%, 9/15/29 | | | | | | | 728 | | | | 771,680 | |
| | | |
5.625%, 5/1/27 | | | | | | | 560 | | | | 586,146 | |
| | | |
Nordstrom, Inc., 5.00%, 1/15/44 | | | | | | | 775 | | | | 761,205 | |
|
PetSmart, Inc./PetSmart Finance Corp.: | |
| | | |
4.75%, 2/15/28(1) | | | | | | | 1,731 | | | | 1,780,766 | |
| | | |
7.75%, 2/15/29(1) | | | | | | | 1,778 | | | | 1,942,563 | |
| | | |
Superior Plus, L.P./Superior General Partner, Inc., 4.50%, 3/15/29(1) | | | | | | | 1,289 | | | | 1,332,504 | |
| | | |
| | | | | | | | | | $ | 15,600,280 | |
|
Semiconductors & Semiconductor Equipment — 0.1% | |
| | | |
ON Semiconductor Corp., 3.875%, 9/1/28(1) | | | | | | | 1,544 | | | $ | 1,596,110 | |
| | | |
| | | | | | | | | | $ | 1,596,110 | |
| | | | |
| | 22 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Software and Services — 0.3% | |
| | | |
Black Knight InfoServ, LLC, 3.625%, 9/1/28(1) | | | | | | | 1,337 | | | $ | 1,345,356 | |
| | | |
Gartner, Inc.: | | | | | | | | | |
| | | |
3.625%, 6/15/29(1) | | | | | | | 427 | | | | 430,779 | |
| | | |
3.75%, 10/1/30(1) | | | | | | | 660 | | | | 680,097 | |
| | | |
4.50%, 7/1/28(1) | | | | | | | 908 | | | | 954,535 | |
| | | |
VMware, Inc., 2.20%, 8/15/31 | | | | | | | 1,196 | | | | 1,170,245 | |
| | | |
| | | | | | | | | | $ | 4,581,012 | |
|
Steel — 0.6% | |
| | | |
Allegheny Ludlum, LLC, 6.95%, 12/15/25 | | | | | | | 465 | | | $ | 511,195 | |
|
Allegheny Technologies, Inc.: | |
| | | |
5.875%, 12/1/27 | | | | | | | 320 | | | | 338,800 | |
| | | |
7.875%, 8/15/23 | | | | | | | 3,109 | | | | 3,501,511 | |
| | | |
Big River Steel, LLC/BRS Finance Corp., 6.625%, 1/31/29(1) | | | | | | | 1,147 | | | | 1,242,304 | |
| | | |
Infrabuild Australia Pty, Ltd., 12.00%, 10/1/24(1) | | | | | | | 2,494 | | | | 2,649,688 | |
| | | |
thyssenkrupp AG, 2.875%, 2/22/24(17) | | | EUR | | | | 100 | | | | 118,922 | |
| | | |
TMS International Corp., 6.25%, 4/15/29(1) | | | | | | | 620 | | | | 648,675 | |
| | | |
| | | | | | | | | | $ | 9,011,095 | |
|
Surface Transport — 0.1% | |
| | | |
CMA CGM S.A., 5.25%, 1/15/25(17) | | | EUR | | | | 185 | | | $ | 217,444 | |
| | | |
Moto Finance PLC, 4.50%, 10/1/22(17) | | | GBP | | | | 250 | | | | 334,071 | |
| | | |
Stena International S.A., 6.125%, 2/1/25(1) | | | | | | | 200 | | | | 207,160 | |
| | | |
| | | | | | | | | | $ | 758,675 | |
|
Technology — 0.1% | |
| | | |
International Game Technology PLC, 4.125%, 4/15/26(1) | | | | | | | 892 | | | $ | 928,233 | |
| | | |
Western Union Co. (The), 6.20%, 11/17/36 | | | | | | | 872 | | | | 1,113,279 | |
| | | |
| | | | | | | | | | $ | 2,041,512 | |
|
Telecommunications — 2.4% | |
| | | |
Altice Financing S.A., 5.75%, 8/15/29(1) | | | | | | | 702 | | | $ | 680,940 | |
|
Altice France Holding S.A.: | |
| | | |
6.00%, 2/15/28(1) | | | | | | | 719 | | | | 691,620 | |
| | | |
10.50%, 5/15/27(1) | | | | | | | 1,599 | | | | 1,750,665 | |
| | | |
AT&T, Inc., 3.55%, 9/15/55 | | | | | | | 1,589 | | | | 1,570,185 | |
| | | |
Connect Finco S.a.r.l./Connect US Finco, LLC, 6.75%, 10/1/26(1) | | | | | | | 2,698 | | | | 2,826,317 | |
| | | |
DKT Finance ApS, 9.375%, 6/17/23(1) | | | | | | | 200 | | | | 204,000 | |
| | | |
eircom Finance DAC, 3.50%, 5/15/26(17) | | | EUR | | | | 200 | | | | 236,994 | |
| | | |
LCPR Senior Secured Financing DAC, 5.125%, 7/15/29(1) | | | | | | | 840 | | | | 866,208 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Telecommunications (continued) | |
| | | |
Level 3 Financing, Inc., 4.25%, 7/1/28(1) | | | | | | | 400 | | | $ | 403,592 | |
| | | |
Lorca Telecom Bondco S.A.U., 4.00%, 9/18/27(17) | | | EUR | | | | 100 | | | | 116,710 | |
| | | |
Lumen Technologies, Inc., 7.50%, 4/1/24 | | | | | | | 47 | | | | 52,111 | |
| | | |
Matterhorn Telecom S.A., 3.125%, 9/15/26(17) | | | EUR | | | | 200 | | | | 232,311 | |
| | | |
Nokia Oyj, 6.625%, 5/15/39 | | | | | | | 600 | | | | 820,122 | |
| | | |
PLT VII Finance S.a.r.l., 4.625%, 1/5/26(17) | | | EUR | | | | 200 | | | | 238,885 | |
| | | |
SES Global Americas Holdings GP, 5.30%, 3/25/44(1) | | | | | | | 314 | | | | 359,786 | |
| | | |
SES S.A., 5.30%, 4/4/43(1) | | | | | | | 186 | | | | 213,061 | |
| | | |
SoftBank Group Corp., 2.875%, 1/6/27(17) | | | EUR | | | | 200 | | | | 222,438 | |
| | | |
Sprint Capital Corp., 6.875%, 11/15/28 | | | | | | | 1,951 | | | | 2,499,719 | |
| | | |
Sprint Communications, Inc., 6.00%, 11/15/22 | | | | | | | 365 | | | | 384,243 | |
|
Sprint Corp.: | |
| | | |
7.625%, 2/15/25 | | | | | | | 1,785 | | | | 2,088,861 | |
| | | |
7.625%, 3/1/26 | | | | | | | 993 | | | | 1,204,484 | |
| | | |
7.875%, 9/15/23 | | | | | | | 7,378 | | | | 8,253,031 | |
| | | |
Summer (BC) Bidco B, LLC, 5.50%, 10/31/26(1) | | | | | | | 907 | | | | 930,718 | |
| | | |
Summer (BC) Holdco A S.a.r.l., 9.25%, 10/31/27(17) | | | EUR | | | | 270 | | | | 341,145 | |
| | | |
Summer (BC) Holdco B S.a.r.l., 5.75%, 10/31/26(17) | | | EUR | | | | 150 | | | | 182,440 | |
|
T-Mobile USA, Inc.: | |
| | | |
2.25%, 2/15/26 | | | | | | | 851 | | | | 861,637 | |
| | | |
2.625%, 2/15/29 | | | | | | | 1,064 | | | | 1,076,565 | |
| | | |
2.875%, 2/15/31 | | | | | | | 638 | | | | 644,220 | |
| | | |
3.60%, 11/15/60 | | | | | | | 750 | | | | 738,928 | |
| | | |
4.75%, 2/1/28 | | | | | | | 1,045 | | | | 1,111,619 | |
| | | |
Telecom Italia Capital S.A., 6.00%, 9/30/34 | | | | | | | 816 | | | | 916,980 | |
| | | |
Telecom Italia Finance S.A., 7.75%, 1/24/33 | | | EUR | | | | 215 | | | | 364,353 | |
|
Telecom Italia SpA: | |
| | | |
2.50%, 7/19/23(17) | | | EUR | | | | 400 | | | | 481,625 | |
| | | |
2.75%, 4/15/25(17) | | | EUR | | | | 256 | | | | 311,590 | |
| | | |
3.00%, 9/30/25(17) | | | EUR | | | | 140 | | | | 172,481 | |
| | | |
5.303%, 5/30/24(1) | | | | | | | 1,118 | | | | 1,205,875 | |
| | | |
Viavi Solutions, Inc., 3.75%, 10/1/29(1) | | | | | | | 868 | | | | 870,995 | |
| | | |
Vmed O2 UK Financing I PLC, 3.25%, 1/31/31(17) | | | EUR | | | | 400 | | | | 476,253 | |
| | | |
Vodafone Group PLC, 4.875% to 7/3/25, 10/3/78(17)(19) | | | GBP | | | | 350 | | | | 509,039 | |
| | | |
Zayo Group Holdings, Inc., 6.125%, 3/1/28(1) | | | | | | | 636 | | | | 645,654 | |
| | | |
| | | | | | | | | | $ | 37,758,400 | |
|
Transportation — 0.4% | |
| | | |
A.P. Moller - Maersk A/S, 4.50%, 6/20/29(1) | | | | | | | 1,000 | | | $ | 1,160,934 | |
| | | |
Cargo Aircraft Management, Inc., 4.75%, 2/1/28(1) | | | | | | | 1,520 | | | | 1,573,580 | |
| | | |
FedEx Corp., 4.10%, 2/1/45 | | | | | | | 500 | | | | 555,816 | |
| | | |
Fenix Marine Service Holdings, Ltd., 8.00%, 1/15/24 | | | | | | | 150 | | | | 164,887 | |
| | | | |
| | 23 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Transportation (continued) | |
| | | |
Seaspan Corp., 5.50%, 8/1/29(1) | | | | | | | 1,654 | | | $ | 1,689,511 | |
| | | |
XPO CNW, Inc., 6.70%, 5/1/34 | | | | | | | 1,000 | | | | 1,228,260 | |
| | | |
| | | | | | | | | | $ | 6,372,988 | |
|
Utilities — 1.3% | |
| | | |
AES Corp. (The), 2.45%, 1/15/31 | | | | | | | 556 | | | $ | 549,086 | |
|
Calpine Corp.: | |
| | | |
4.50%, 2/15/28(1) | | | | | | | 1,073 | | | | 1,095,801 | |
| | | |
4.625%, 2/1/29(1) | | | | | | | 680 | | | | 670,650 | |
| | | |
5.00%, 2/1/31(1) | | | | | | | 910 | | | | 911,138 | |
| | | |
5.125%, 3/15/28(1) | | | | | | | 1,511 | | | | 1,532,130 | |
| | | |
5.25%, 6/1/26(1) | | | | | | | 697 | | | | 717,896 | |
| | | |
ENERGO-PRO AS, 4.50%, 5/4/24(17) | | | EUR | | | | 450 | | | | 520,895 | |
| | | |
Leeward Renewable Energy Operations, LLC, 4.25%, 7/1/29(1) | | | | | | | 838 | | | | 852,816 | |
| | | |
NextEra Energy Capital Holdings, Inc., 5.65% to 5/1/29, 5/1/79(19) | | | | | | | 1,000 | | | | 1,174,140 | |
|
NextEra Energy Operating Partners, L.P.: | |
| | | |
4.25%, 9/15/24(1) | | | | | | | 60 | | | | 63,519 | |
| | | |
4.50%, 9/15/27(1) | | | | | | | 804 | | | | 865,896 | |
| | | |
NRG Energy, Inc.: | | | | | | | | | |
| | | |
3.375%, 2/15/29(1) | | | | | | | 664 | | | | 656,152 | |
| | | |
3.625%, 2/15/31(1) | | | | | | | 1,107 | | | | 1,088,735 | |
| | | |
3.875%, 2/15/32(1) | | | | | | | 1,466 | | | | 1,451,340 | |
| | | |
5.25%, 6/15/29(1) | | | | | | | 673 | | | | 716,745 | |
| | | |
5.75%, 1/15/28 | | | | | | | 1,455 | | | | 1,549,575 | |
|
TerraForm Power Operating, LLC: | |
| | | |
4.25%, 1/31/23(1) | | | | | | | 655 | | | | 674,178 | |
| | | |
5.00%, 1/31/28(1) | | | | | | | 1,497 | | | | 1,609,275 | |
| | | |
Vistra Operations Co., LLC: | | | | | | | | | |
| | | |
4.375%, 5/1/29(1) | | | | | | | 1,415 | | | | 1,425,443 | |
| | | |
5.00%, 7/31/27(1) | | | | | | | 1,278 | | | | 1,321,132 | |
| | | |
| | | | | | | | | | $ | 19,446,542 | |
| | | |
Total Corporate Bonds (identified cost $744,001,876) | | | | | | | | | | $ | 775,770,562 | |
|
Exchange-Traded Funds — 0.0%(11) | |
Security | | | | | Shares | | | Value | |
| | | |
SPDR Bloomberg Barclays High Yield Bond ETF | | | | | | | 5,280 | | | $ | 577,421 | |
| | | |
Total Exchange-Traded Funds (identified cost $574,253) | | | | | | | | | | $ | 577,421 | |
| | | | | | | | | | | | |
Preferred Stocks — 0.2% | |
Security | | | | | Shares | | | Value | |
|
Building and Development — 0.1% | |
| | | |
Brookfield Property Partners, L.P., Series A, 5.75%(13) | | | | | | | 40,000 | | | $ | 938,800 | |
| | | |
| | | | | | | | | | $ | 938,800 | |
|
Financial Services — 0.0% | |
| | | |
DBI Investors, Inc., Series A-1(12)(13)(14) | | | | | | | 1,932 | | | $ | 0 | |
| | | |
| | | | | | | | | | $ | 0 | |
|
Nonferrous Metals / Minerals — 0.0%(11) | |
| | | |
ACNR Holdings, Inc., 15.00% (PIK)(12)(13) | | | | | | | 1,803 | | | $ | 380,132 | |
| | | |
| | | | | | | | | | $ | 380,132 | |
|
Pipelines — 0.1% | |
| | | |
NuStar Energy, L.P., Series B, 7.625% to 6/15/22(19) | | | | | | | 28,087 | | | $ | 597,411 | |
| | | |
| | | | | | | | | | $ | 597,411 | |
|
Retailers (Except Food and Drug) — 0.0% | |
| | | |
David’s Bridal, LLC Series A, 8.00% (PIK)(12)(13)(14) | | | | | | | 1,136 | | | $ | 0 | |
| | | |
David’s Bridal, LLC Series B, 10.00% (PIK)(12)(13)(14) | | | | | | | 4,631 | | | | 0 | |
| | | |
| | | | | | | | | | $ | 0 | |
|
Telecommunications — 0.0%(11) | |
| | | |
United States Cellular Corp., 6.25%(13) | | | | | | | 18,950 | | | $ | 513,545 | |
| | | |
| | | | | | | | | | $ | 513,545 | |
| | | |
Total Preferred Stocks (identified cost $2,501,546) | | | | | | | | | | $ | 2,429,888 | |
|
Senior Floating-Rate Loans — 48.6%(23) | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Aerospace and Defense — 1.1% | |
| | | |
Aernnova Aerospace S.A.U.: | | | | | | | | | |
| | | |
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 2/22/27 | | | EUR | | | | 204 | | | $ | 226,055 | |
| | | |
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 2/26/27 | | | EUR | | | | 796 | | | | 881,617 | |
| | | |
AI Convoy (Luxembourg) S.a.r.l.: | | | | | | | | | |
| | | |
Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), 1/18/27 | | | EUR | | | | 1,000 | | | | 1,154,875 | |
| | | |
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 1/17/27 | | | | | | | 737 | | | | 739,114 | |
| | | | |
| | 24 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Aerospace and Defense (continued) | |
| | | |
Dynasty Acquisition Co., Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.632%, (3 mo. USD LIBOR + 3.50%), 4/6/26 | | | | | | | 351 | | | $ | 344,371 | |
| | | |
Term Loan, 3.632%, (3 mo. USD LIBOR + 3.50%), 4/6/26 | | | | | | | 654 | | | | 640,530 | |
| | | |
IAP Worldwide Services, Inc.: | | | | | | | | | |
| | | |
Revolving Loan, 0.75%, 7/18/23(24) | | | | | | | 172 | | | | 173,366 | |
| | | |
Term Loan - Second Lien, 8.00%, (3 mo. USD LIBOR + 6.50%, Floor 1.50%), 7/18/23(14) | | | | | | | 221 | | | | 180,880 | |
| | | |
Spirit Aerosystems, Inc., Term Loan, 6.00%, (1 mo. USD LIBOR + 5.25%, Floor 0.75%), 1/15/25 | | | | | | | 397 | | | | 399,978 | |
| | | |
TransDigm, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 8/22/24 | | | | | | | 1,354 | | | | 1,340,275 | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 12/9/25 | | | | | | | 5,446 | | | | 5,384,336 | |
| | | |
WP CPP Holdings, LLC, Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 4/30/25 | | | | | | | 6,555 | | | | 6,382,522 | |
| | | |
| | | | | | | | | | $ | 17,847,919 | |
|
Air Transport — 0.2% | |
| | | |
Mileage Plus Holdings, LLC, Term Loan, 6.25%, (3 mo. USD LIBOR + 5.25%, Floor 1.00%), 6/21/27 | | | | | | | 750 | | | $ | 797,188 | |
| | | |
SkyMiles IP, Ltd., Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 10/20/27 | | | | | | | 1,950 | | | | 2,075,896 | |
| | | |
| | | | | | | | | | $ | 2,873,084 | |
|
Automotive — 1.7% | |
| | | |
Adient US, LLC, Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 4/8/28 | | | | | | | 873 | | | $ | 874,137 | |
| | | |
American Axle and Manufacturing, Inc., Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 4/6/24 | | | | | | | 1,885 | | | | 1,885,534 | |
| | | |
Autokiniton US Holdings, Inc., Term Loan, 4/6/28(25) | | | | | | | 525 | | | | 526,050 | |
| | | |
Belron Finance US, LLC, Term Loan, 3.25%, (3 mo. USD LIBOR + 2.75%, Floor 0.50%), 4/13/28 | | | | | | | 846 | | | | 843,988 | |
| | | |
Belron Luxembourg S.a r.l., Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 4/13/28 | | | EUR | | | | 500 | | | | 577,582 | |
| | | |
Bright Bidco B.V., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/30/24 | | | | | | | 1,725 | | | | 1,387,303 | |
| | | |
Chassix, Inc., Term Loan, 6.50%, (3 mo. USD LIBOR + 5.50%, Floor 1.00%), 11/15/23 | | | | | | | 1,444 | | | | 1,425,703 | |
| | | |
Clarios Global, L.P., Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), 4/30/26 | | | EUR | | | | 1,450 | | | | 1,666,764 | |
| | | |
Dayco Products, LLC, Term Loan, 4.371%, (3 mo. USD LIBOR + 4.25%), 5/19/23 | | | | | | | 1,149 | | | | 1,120,634 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Automotive (continued) | |
| | | |
Garrett LX I S.a.r.l.: | | | | | | | | | |
| | | |
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 4/30/28 | | | EUR | | | | 1,000 | | | $ | 1,160,159 | |
| | | |
Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 4/30/28 | | | | | | | 650 | | | | 650,813 | |
| | | |
Gates Global, LLC: | | | | | | | | | |
| | | |
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 4/1/24 | | | EUR | | | | 866 | | | | 1,002,520 | |
| | | |
Term Loan, 3.25%, (1 mo. USD LIBOR + 2.50%, Floor 0.75%), 3/31/27 | | | | | | | 3,990 | | | | 3,989,061 | |
| | | |
Les Schwab Tire Centers, Term Loan, 4.00%, (6 mo. USD LIBOR + 3.25%, Floor 0.75%), 11/2/27 | | | | | | | 2,506 | | | | 2,510,761 | |
| | | |
MajorDrive Holdings IV, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 4.00%, Floor 0.50%), 5/12/28 | | | | | | | 449 | | | | 450,348 | |
| | | |
Tenneco, Inc., Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 10/1/25 | | | | | | | 3,671 | | | | 3,646,605 | |
| | | |
Thor Industries, Inc., Term Loan, 3.125%, (1 mo. USD LIBOR + 3.00%), 2/1/26 | | | | | | | 1,085 | | | | 1,088,152 | |
| | | |
TI Group Automotive Systems, LLC, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 12/16/26 | | | EUR | | | | 529 | | | | 613,680 | |
| | | |
Wheel Pros, LLC, Term Loan, 5.25%, (1 mo. USD LIBOR + 4.50%, Floor 0.75%), 5/11/28 | | | | | | | 900 | | | | 900,921 | |
| | | |
| | | | | | | | | | $ | 26,320,715 | |
|
Beverage and Tobacco — 0.0%(11) | |
| | | |
City Brewing Company, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 4/5/28 | | | | | | | 775 | | | $ | 768,703 | |
| | | |
| | | | | | | | | | $ | 768,703 | |
|
Brokerage / Securities Dealers / Investment Houses — 0.3% | |
| | | |
Advisor Group, Inc., Term Loan, 4.584%, (1 mo. USD LIBOR + 4.50%), 7/31/26 | | | | | | | 1,154 | | | $ | 1,157,651 | |
| | | |
Clipper Acquisitions Corp., Term Loan, 1.833%, (1 mo. USD LIBOR + 1.75%), 3/3/28 | | | | | | | 1,231 | | | | 1,219,286 | |
| | | |
Hudson River Trading, LLC, Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 3/20/28 | | | | | | | 1,940 | | | | 1,932,369 | |
| | | |
| | | | | | | | | | $ | 4,309,306 | |
|
Building and Development — 1.8% | |
| | | |
Advanced Drainage Systems, Inc., Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 7/31/26 | | | | | | | 1 | | | $ | 814 | |
| | | |
Aegion Corporation, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 5/17/28 | | | | | | | 475 | | | | 480,196 | |
| | | |
American Builders & Contractors Supply Co., Inc., Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 1/15/27 | | | | | | | 2,401 | | | | 2,388,649 | |
| | | | |
| | 25 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Building and Development (continued) | |
| | | |
American Residential Services, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 10/15/27 | | | | | | | 571 | | | $ | 571,044 | |
| | | |
APi Group DE, Inc., Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 10/1/26 | | | | | | | 1,449 | | | | 1,443,016 | |
| | | |
Artera Services, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 3/6/25 | | | | | | | 1,047 | | | | 1,044,320 | |
| | | |
Brookfield Property REIT, Inc., Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 8/27/25 | | | | | | | 994 | | | | 984,100 | |
| | | |
CPG International, Inc., Term Loan, 3.25%, (3 mo. USD LIBOR + 2.50%, Floor 0.75%), 5/5/24 | | | | | | | 976 | | | | 977,609 | |
| | | |
Cushman & Wakefield U.S. Borrower, LLC, Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 8/21/25 | | | | | | | 5,739 | | | | 5,697,967 | |
| | | |
Foundation Building Materials Holding Company, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 2/3/28 | | | | | | | 1,122 | | | | 1,116,226 | |
| | | |
Northstar Group Services, Inc., Term Loan, 11/12/26(25) | | | | | | | 225 | | | | 226,125 | |
| | | |
Quikrete Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 2/1/27 | | | | | | | 2,952 | | | | 2,931,502 | |
| | | |
Term Loan, 2/21/28(25) | | | | | | | 2,175 | | | | 2,170,620 | |
| | | |
SRS Distribution, Inc., Term Loan, 4.25%, (6 mo. USD LIBOR + 3.75%, Floor 0.50%), 6/2/28 | | | | | | | 1,000 | | | | 1,000,875 | |
| | | |
Standard Industries, Inc., Term Loan, 9/22/28(25) | | | | | | | 1,775 | | | | 1,778,206 | |
| | | |
Werner FinCo L.P., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), 7/24/24 | | | | | | | 1,009 | | | | 1,011,183 | |
| | | |
White Cap Buyer, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 4.00%, Floor 0.50%), 10/19/27 | | | | | | | 2,084 | | | | 2,091,486 | |
| | | |
WireCo WorldGroup, Inc.: | | | | | | | | | |
| | | |
Term Loan, 6.00%, (6 mo. USD LIBOR + 5.00%, Floor 1.00%), 9/30/23 | | | | | | | 1,293 | | | | 1,295,949 | |
| | | |
Term Loan - Second Lien, 9.158%, (6 mo. USD LIBOR + 9.00%), 9/30/24 | | | | | | | 1,214 | | | | 1,207,819 | |
| | | |
| | | | | | | | | | $ | 28,417,706 | |
|
Business Equipment and Services — 4.6% | |
| | | |
AlixPartners, LLP: | | | | | | | | | |
| | | |
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/4/28 | | | EUR | | | | 995 | | | $ | 1,150,474 | |
| | | |
Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 2/4/28 | | | | | | | 1,418 | | | | 1,415,304 | |
| | | |
Allied Universal Holdco, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 5/12/28 | | | | | | | 2,740 | | | | 2,745,620 | |
| | | |
Amentum Government Services Holdings, LLC, Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 1/29/27 | | | | | | | 1,012 | | | | 1,013,031 | |
| | | | | | | | | | |
Borrower/Description | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Business Equipment and Services (continued) | |
| | | |
AppLovin Corporation, Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 8/15/25 | | | | | 2,903 | | | $ | 2,903,267 | |
| | | |
Asplundh Tree Expert, LLC, Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 9/7/27 | | | | | 1,114 | | | | 1,110,501 | |
| | | |
Blitz 20-487 GmbH, Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 4/28/28 | | EUR | | | 1,000 | | | | 1,157,536 | |
| | | |
Bracket Intermediate Holding Corp., Term Loan, 4.395%, (3 mo. USD LIBOR + 4.25%), 9/5/25 | | | | | 922 | | | | 921,116 | |
| | | |
Brand Energy & Infrastructure Services, Inc., Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), 6/21/24 | | | | | 575 | | | | 570,700 | |
| | | |
Camelot U.S. Acquisition 1 Co.: | | | | | | | | |
| | | |
Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 10/30/26 | | | | | 1,818 | | | | 1,814,786 | |
| | | |
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), 10/30/26 | | | | | 1,067 | | | | 1,071,160 | |
| | | |
Ceridian HCM Holding, Inc., Term Loan, 2.572%, (1 week USD LIBOR + 2.50%), 4/30/25 | | | | | 1,504 | | | | 1,484,472 | |
| | | |
Deerfield Dakota Holding, LLC, Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 4/9/27 | | | | | 1,950 | | | | 1,958,496 | |
| | | |
Employbridge, LLC, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.75%, Floor 0.75%), 7/14/28 | | | | | 1,525 | | | | 1,515,945 | |
| | | |
Endure Digital, Inc., Term Loan, 4.25%, (6 mo. USD LIBOR + 3.50%, Floor 0.75%), 2/10/28 | | | | | 2,793 | | | | 2,780,781 | |
| | | |
First Advantage Holdings, LLC, Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 1/31/27 | | | | | 606 | | | | 606,291 | |
| | | |
Foundational Education Group, Inc., Term Loan, 4.75%, (6 mo. USD LIBOR + 4.25%, Floor 0.50%), 8/31/28 | | | | | 550 | | | | 549,313 | |
| | | |
Garda World Security Corporation, Term Loan, 4.34%, (1 mo. USD LIBOR + 4.25%), 10/30/26 | | | | | 859 | | | | 860,902 | |
| | | |
Grab Holdings, Inc., Term Loan, 5.50%, (6 mo. USD LIBOR + 4.50%, Floor 1.00%), 1/29/26 | | | | | 2,139 | | | | 2,160,643 | |
| | | |
Greeneden U.S. Holdings II, LLC: | | | | | | | | |
| | | |
Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), 12/1/27 | | EUR | | | 746 | | | | 869,416 | |
| | | |
Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/1/27 | | | | | 821 | | | | 824,658 | |
| | | |
Hillman Group, Inc. (The): | | | | | | | | |
| | | |
Term Loan, 1.525%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 7/14/28(24) | | | | | 72 | | | | 71,700 | |
| | | |
Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 7/14/28 | | | | | 299 | | | | 299,348 | |
| | | |
Intrado Corporation, Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), 10/10/24 | | | | | 1,054 | | | | 1,039,789 | |
| | | |
IRI Holdings, Inc., Term Loan, 4.334%, (1 mo. USD LIBOR + 4.25%), 12/1/25 | | | | | 9,881 | | | | 9,886,324 | |
| | | | |
| | 26 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Borrower/Description | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Business Equipment and Services (continued) | |
| | | |
Iron Mountain, Inc., Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 1/2/26 | | | | | 893 | | | $ | 889,650 | |
| | | |
Ivanti Software, Inc.: | | | | | | | | |
| | | |
Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/1/27 | | | | | 672 | | | | 674,353 | |
| | | |
Term Loan, 5.75%, (3 mo. USD LIBOR + 4.75%, Floor 1.00%), 12/1/27 | | | | | 2,488 | | | | 2,497,761 | |
| | | |
KAR Auction Services, Inc., Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 9/19/26 | | | | | 637 | | | | 627,445 | |
| | | |
KUEHG Corp.: | | | | | | | | |
| | | |
Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 2/21/25 | | | | | 2,254 | | | | 2,235,844 | |
| | | |
Term Loan - Second Lien, 9.25%, (3 mo. USD LIBOR + 8.25%, Floor 1.00%), 8/22/25 | | | | | 425 | | | | 425,354 | |
| | | |
LGC Group Holdings, Ltd., Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), 4/21/27 | | EUR | | | 1,000 | | | | 1,138,803 | |
| | | |
Loire Finco Luxembourg S.a.r.l., Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 4/21/27 | | | | | 346 | | | | 338,950 | |
| | | |
Magnite, Inc., Term Loan, 5.75%, (USD LIBOR + 5.00%, Floor 0.75%), 4/28/28(26) | | | | | 648 | | | | 649,185 | |
| | | |
Monitronics International, Inc., Term Loan, 7.75%, (1 mo. USD LIBOR + 6.50%, Floor 1.25%), 3/29/24 | | | | | 1,983 | | | | 1,949,536 | |
| | | |
Nielsen Consumer, Inc.: | | | | | | | | |
| | | |
Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 3/6/28 | | EUR | | | 746 | | | | 868,561 | |
| | | |
Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 3/6/28 | | | | | 672 | | | | 674,312 | |
| | | |
Packaging Coordinators Midco, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 11/30/27 | | | | | 1,095 | | | | 1,097,236 | |
| | | |
Prime Security Services Borrower, LLC, Term Loan, 3.50%, (USD LIBOR + 2.75%, Floor 0.75%), 9/23/26(26) | | | | | 1,536 | | | | 1,536,444 | |
| | | |
Rockwood Service Corporation, Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 1/23/27 | | | | | 480 | | | | 481,899 | |
| | | |
SITEL Worldwide Corporation: | | | | | | | | |
| | | |
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 8/28/28 | | EUR | | | 500 | | | | 580,623 | |
| | | |
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 8/28/28 | | | | | 1,900 | | | | 1,904,750 | |
| | | |
Skopima Merger Sub, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 4.00%, Floor 0.50%), 5/12/28 | | | | | 1,125 | | | | 1,120,781 | |
| | | |
SMG US Midco 2, Inc., Term Loan, 2.616%, (USD LIBOR + 2.50%), 1/23/25(26) | | | | | 241 | | | | 237,707 | |
| | | |
Sotheby’s, Term Loan, 5.00%, (3 mo. USD LIBOR + 4.50%, Floor 0.50%), 1/15/27 | | | | | 447 | | | | 449,233 | |
| | | |
Speedster Bidco GmbH, Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 3/31/27 | | EUR | | | 1,000 | | | | 1,140,613 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Business Equipment and Services (continued) | |
| | | |
Spin Holdco, Inc., Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 3/4/28 | | | | | | | 3,881 | | | $ | 3,895,657 | |
| | | |
team.blue Finco S.a.r.l.: | | | | | | | | | |
| | | |
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 3/27/28 | | | EUR | | | | 946 | | | | 1,096,147 | |
| | | |
Term Loan, 3/27/28(25) | | | EUR | | | | 54 | | | | 62,637 | |
| | | |
Techem Verwaltungsgesellschaft 675 mbH, Term Loan, 2.375%, (6 mo. EURIBOR + 2.375%), 7/15/25 | | | EUR | | | | 826 | | | | 943,743 | |
| | | |
Tempo Acquisition, LLC, Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 11/2/26 | | | | | | | 843 | | | | 846,283 | |
| | | |
TK Elevator Topco GmbH, Term Loan, 3.625%, (3 mo. EURIBOR + 3.625%), 7/29/27 | | | EUR | | | | 1,000 | | | | 1,162,131 | |
| | | |
West Corporation, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 10/10/24 | | | | | | | 303 | | | | 296,816 | |
| | | |
Zephyr Bidco Limited, Term Loan, 4.799%, (1 mo. GBP LIBOR + 4.75%), 7/23/25 | | | GBP | | | | 775 | | | | 1,041,479 | |
| | | |
| | | | | | | | | | $ | 71,645,506 | |
|
Cable and Satellite Television — 1.9% | |
| | | |
CSC Holdings, LLC: | | | | | | | | | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 7/17/25 | | | | | | | 3,893 | | | $ | 3,847,679 | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 1/15/26 | | | | | | | 1,048 | | | | 1,036,006 | |
| | | |
Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 4/15/27 | | | | | | | 1,337 | | | | 1,324,071 | |
| | | |
Numericable Group S.A.: | | | | | | | | | |
| | | |
Term Loan, 2.879%, (3 mo. USD LIBOR + 2.75%), 7/31/25 | | | | | | | 2,059 | | | | 2,030,961 | |
| | | |
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 7/31/25 | | | EUR | | | | 503 | | | | 571,701 | |
| | | |
Telenet International Finance S.a.r.l., Term Loan, 2.25%, (6 mo. EURIBOR + 2.25%), 4/30/29 | | | EUR | | | | 1,750 | | | | 2,002,534 | |
| | | |
UPC Broadband Holding B.V.: | | | | | | | | | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 4/30/28 | | | | | | | 900 | | | | 892,366 | |
| | | |
Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 4/30/29 | | | EUR | | | | 1,500 | | | | 1,716,892 | |
| | | |
Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 1/31/29 | | | EUR | | | | 3,000 | | | | 3,458,488 | |
| | | |
UPC Financing Partnership, Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 1/31/29 | | | | | | | 3,025 | | | | 3,021,848 | |
| | | |
Virgin Media Bristol, LLC, Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 1/31/29 | | | | | | | 1,150 | | | | 1,151,917 | |
| | | |
Virgin Media Ireland Limited, Term Loan, 7/15/29(25) | | | EUR | | | | 1,000 | | | | 1,155,615 | |
| | | | |
| | 27 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Cable and Satellite Television (continued) | |
| | | |
Virgin Media SFA Finance Limited: | | | | | | | | | |
| | | |
Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 1/31/29 | | | EUR | | | | 1,300 | | | $ | 1,485,405 | |
| | | |
Term Loan, 3.299%, (1 mo. GBP LIBOR + 3.25%), 11/15/27 | | | GBP | | | | 1,500 | | | | 1,997,662 | |
| | | |
Ziggo B.V., Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 1/31/29 | | | EUR | | | | 3,750 | | | | 4,304,448 | |
| | | |
| | | | | | | | | | $ | 29,997,593 | |
|
Chemicals and Plastics — 2.1% | |
| | | |
Aruba Investments, Inc., Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 11/24/27 | | | EUR | | | | 995 | | | $ | 1,156,880 | |
| | | |
Atotech B.V., Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 3/18/28 | | | EUR | | | | 1,000 | | | | 1,152,920 | |
| | | |
Caldic B.V., Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 7/18/24 | | | EUR | | | | 1,000 | | | | 1,140,685 | |
| | | |
Ferro Corporation: | | | | | | | | | |
| | | |
Term Loan, 2.382%, (3 mo. USD LIBOR + 2.25%), 2/14/24 | | | | | | | 150 | | | | 150,291 | |
| | | |
Term Loan, 2.382%, (3 mo. USD LIBOR + 2.25%), 2/14/24 | | | | | | | 154 | | | | 153,558 | |
| | | |
Term Loan, 2.382%, (3 mo. USD LIBOR + 2.25%), 2/14/24 | | | | | | | 215 | | | | 214,865 | |
| | | |
Flint Group GmbH, Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 5.25% cash, 0.75% PIK, 9/21/23 | | | | | | | 31 | | | | 30,784 | |
| | | |
Flint Group US, LLC, Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 5.25% cash, 0.75% PIK, 9/21/23 | | | | | | | 185 | | | | 186,219 | |
| | | |
Hexion, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.65%, (3 mo. USD LIBOR + 3.50%), 7/1/26 | | | | | | | 758 | | | | 758,509 | |
| | | |
Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 7/1/26 | | | EUR | | | | 759 | | | | 882,554 | |
| | | |
Illuminate Buyer, LLC, Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 6/30/27 | | | | | | | 756 | | | | 755,915 | |
| | | |
INEOS 226 Limited, Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 1/29/26 | | | EUR | | | | 1,000 | | | | 1,151,925 | |
| | | |
INEOS Enterprises Holdings II Limited, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 8/31/26 | | | EUR | | | | 200 | | | | 231,815 | |
| | | |
INEOS Enterprises Holdings US Finco, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 8/28/26 | | | | | | | 221 | | | | 222,378 | |
| | | |
INEOS Finance PLC, Term Loan, 2.50%, (1 mo. EURIBOR + 2.00%, Floor 0.50%), 4/1/24 | | | EUR | | | | 1,212 | | | | 1,399,332 | |
| | | |
INEOS Styrolution Group GmbH, Term Loan, 2.50%, (1 mo. EURIBOR + 2.00%, Floor 0.50%), 1/29/27 | | | EUR | | | | 1,000 | | | | 1,147,780 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Chemicals and Plastics (continued) | |
| | | |
INEOS Styrolution US Holding, LLC, Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 1/29/26 | | | | | | | 2,344 | | | $ | 2,347,934 | |
| | | |
Lonza Group AG: | | | | | | | | | |
| | | |
Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 7/3/28 | | | EUR | | | | 1,000 | | | | 1,161,556 | |
| | | |
Term Loan, 4.75%, (6 mo. USD LIBOR + 4.00%, Floor 0.75%), 7/3/28 | | | | | | | 1,247 | | | | 1,251,356 | |
| | | |
LSF11 Skyscraper Holdco S.a.r.l., Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 9/29/27 | | | EUR | | | | 1,000 | | | | 1,155,040 | |
| | | |
Messer Industries GmbH, Term Loan, 2.632%, (3 mo. USD LIBOR + 2.50%), 3/1/26 | | | | | | | 1,373 | | | | 1,367,430 | |
| | | |
Minerals Technologies, Inc., Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 2/14/24 | | | | | | | 922 | | | | 924,997 | |
| | | |
Momentive Performance Materials, Inc., Term Loan, 3.34%, (1 mo. USD LIBOR + 3.25%), 5/15/24 | | | | | | | 464 | | | | 464,168 | |
| | | |
Orion Engineered Carbons GmbH: | | | | | | | | | |
| | | |
Term Loan, 9/24/28(25) | | | | | | | 375 | | | | 377,363 | |
| | | |
Term Loan, 9/24/28(25) | | | EUR | | | | 1,000 | | | | 1,165,590 | |
| | | |
PMHC II, Inc., Term Loan, 4.50%, (12 mo. USD LIBOR + 3.50%, Floor 1.00%), 3/31/25 | | | | | | | 2,643 | | | | 2,631,475 | |
| | | |
Pregis TopCo Corporation, Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 7/31/26 | | | | | | | 639 | | | | 639,623 | |
| | | |
Pretium PKG Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 10/2/28(25) | | | | | | | 625 | | | | 626,692 | |
| | | |
Term Loan - Second Lien, 10/1/29(25) | | | | | | | 350 | | | | 351,750 | |
| | | |
Rohm Holding GmbH: | | | | | | | | | |
| | | |
Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), 7/31/26 | | | EUR | | | | 500 | | | | 580,396 | |
| | | |
Term Loan, 4.904%, (6 mo. USD LIBOR + 4.75%), 7/31/26 | | | | | | | 939 | | | | 939,607 | |
| | | |
Solenis Holdings, LLC, Term Loan, 4.00%, (1 mo. EURIBOR + 4.00%), 6/26/25 | | | EUR | | | | 496 | | | | 576,027 | |
| | | |
Starfruit Finco B.V., Term Loan, 2.832%, (1 mo. USD LIBOR + 2.75%), 10/1/25 | | | | | | | 2,427 | | | | 2,414,101 | |
| | | |
Tronox Finance, LLC, Term Loan, 2.366%, (USD LIBOR + 2.25%), 3/13/28(26) | | | | | | | 1,614 | | | | 1,609,337 | |
| | | |
Venator Materials Corporation, Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 8/8/24 | | | | | | | 408 | | | | 403,410 | |
| | | |
W.R. Grace & Co. Conn., Term Loan, 9/22/28(25) | | | | | | | 1,125 | | | | 1,130,274 | |
| | | |
| | | | | | | | | | $ | 32,854,536 | |
| | | | |
| | 28 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Conglomerates — 0.1% | |
| | | |
Penn Engineering & Manufacturing Corp., Term Loan, 3.25%, (1 mo. EURIBOR + 2.25%, Floor 1.00%), 6/27/24 | | | EUR | | | | 1,201 | | | $ | 1,391,656 | |
| | | |
| | | | | | | | | | $ | 1,391,656 | |
|
Containers and Glass Products — 1.2% | |
| | | |
Berlin Packaging, LLC, Term Loan, 4.25%, (USD LIBOR + 3.75%, Floor 0.50%), 3/11/28(26) | | | | | | | 875 | | | $ | 874,141 | |
| | | |
BWAY Holding Company, Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 4/3/24 | | | | | | | 2,524 | | | | 2,476,763 | |
| | | |
Flex Acquisition Company, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.145%, (3 mo. USD LIBOR + 3.00%), 6/29/25 | | | | | | | 1,499 | | | | 1,492,391 | |
| | | |
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.50%, Floor 0.50%), 2/23/28 | | | | | | | 1,453 | | | | 1,451,726 | |
| | | |
Kouti B.V., Term Loan, 7/1/28(25) | | | EUR | | | | 2,000 | | | | 2,316,700 | |
| | | |
Libbey Glass, Inc., Term Loan, 11.00%, (3 mo. USD LIBOR + 10.00%, Floor 1.00%), 11/13/25 | | | | | | | 5,164 | | | | 5,370,428 | |
| | | |
Proampac PG Borrower, LLC, Term Loan, 4.50%, (USD LIBOR + 3.75%, Floor 0.75%), 11/3/25(26) | | | | | | | 348 | | | | 349,469 | |
| | | |
Reynolds Group Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 2/5/26 | | | | | | | 1,365 | | | | 1,357,011 | |
| | | |
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 9/20/28 | | | | | | | 975 | | | | 974,314 | |
| | | |
TricorBraun Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.421%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 3/3/28(24) | | | | | | | 105 | | | | 105,040 | |
| | | |
Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 3/3/28 | | | | | | | 468 | | | | 466,222 | |
| | | |
Trident TPI Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 0.00%, 9/15/28(24) | | | | | | | 99 | | | | 99,601 | |
| | | |
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), 10/17/24 | | | | | | | 819 | | | | 819,587 | |
| | | |
Term Loan, 4.50%, (3 mo. USD LIBOR + 4.00%, Floor 0.50%), 9/15/28 | | | | | | | 701 | | | | 702,185 | |
| | | |
| | | | | | | | | | $ | 18,855,578 | |
|
Drugs — 2.1% | |
| | | |
Aenova Holding GmbH, Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), 3/6/26 | | | EUR | | | | 1,000 | | | $ | 1,166,797 | |
| | | |
Akorn, Inc., Term Loan, 8.50%, (3 mo. USD LIBOR + 7.50%, Floor 1.00%), 10/1/25 | | | | | | | 498 | | | | 506,435 | |
| | | |
Alkermes, Inc., Term Loan, 3.00%, (3 mo. USD LIBOR + 2.50%, Floor 0.50%), 3/9/26 | | | | | | | 1,101 | | | | 1,099,861 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Drugs (continued) | |
| | | |
Amneal Pharmaceuticals, LLC, Term Loan, 3.625%, (1 mo. USD LIBOR + 3.50%), 5/4/25 | | | | | | | 3,608 | | | $ | 3,566,476 | |
| | | |
Bausch Health Companies, Inc., Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 6/2/25 | | | | | | | 4,021 | | | | 4,020,227 | |
| | | |
Catalent Pharma Solutions, Inc., Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 2/22/28 | | | | | | | 831 | | | | 832,953 | |
| | | |
Curia Global, Inc., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 8/30/26 | | | | | | | 248 | | | | 248,686 | |
| | | |
Elanco Animal Health Incorporated, Term Loan, 1.836%, (1 mo. USD LIBOR + 1.75%), 8/1/27 | | | | | | | 1,787 | | | | 1,767,448 | |
| | | |
Horizon Therapeutics USA, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 5/22/26 | | | | | | | 654 | | | | 651,575 | |
| | | |
Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 3/15/28 | | | | | | | 1,940 | | | | 1,939,441 | |
| | | |
Jazz Financing Lux S.a.r.l.: | | | | | | | | | |
| | | |
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 5/5/28 | | | EUR | | | | 1,000 | | | | 1,161,349 | |
| | | |
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 5/5/28 | | | | | | | 1,621 | | | | 1,624,990 | |
| | | |
Mallinckrodt International Finance S.A.: | | | | | | | | | |
| | | |
Term Loan, 6.00%, (6 mo. USD LIBOR + 5.25%, Floor 0.75%), 9/24/24 | | | | | | | 3,402 | | | | 3,223,775 | |
| | | |
Term Loan, 6.25%, (1 mo. USD LIBOR + 5.50%, Floor 0.75%), 2/24/25 | | | | | | | 1,951 | | | | 1,857,165 | |
| | | |
Nidda Healthcare Holding AG: | | | | | | | | | |
| | | |
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 8/21/26 | | | EUR | | | | 625 | | | | 716,729 | |
| | | |
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 8/21/26 | | | EUR | | | | 1,000 | | | | 1,146,127 | |
| | | |
PPD, Inc., Term Loan, 2.50%, (1 mo. USD LIBOR + 2.00%, Floor 0.50%), 1/13/28 | | | | | | | 6,169 | | | | 6,166,298 | |
| | | |
Recipharm AB, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/17/28 | | | EUR | | | | 1,000 | | | | 1,154,658 | |
| | | |
| | | | | | | | | | $ | 32,850,990 | |
|
Ecological Services and Equipment — 0.3% | |
| | | |
EnergySolutions, LLC, Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), 5/9/25 | | | | | | | 4,920 | | | $ | 4,919,529 | |
| | | |
US Ecology Holdings, Inc., Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 11/1/26 | | | | | | | 270 | | | | 270,131 | |
| | | |
| | | | | | | | | | $ | 5,189,660 | |
|
Electronics / Electrical — 8.4% | |
| | | |
Allegro Microsystems, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 9/30/27 | | | | | | | 42 | | | $ | 42,308 | |
| | | | |
| | 29 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Borrower/Description | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Electronics / Electrical (continued) | |
| | | |
Applied Systems, Inc.: | | | | | | | | |
| | | |
Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 9/19/24 | | | | | 4,555 | | | $ | 4,559,115 | |
| | | |
Term Loan - Second Lien, 6.25%, (3 mo. USD LIBOR + 5.50%, Floor 0.75%), 9/19/25 | | | | | 470 | | | | 477,408 | |
| | | |
Aptean, Inc.: | | | | | | | | |
| | | |
Term Loan, 4.334%, (1 mo. USD LIBOR + 4.25%), 4/23/26 | | | | | 733 | | | | 731,808 | |
| | | |
Term Loan - Second Lien, 7.75%, (1 mo. USD LIBOR + 7.00%, Floor 0.75%), 4/23/27 | | | | | 1,450 | | | | 1,446,375 | |
| | | |
Astra Acquisition Corp., Term Loan, 5.50%, (1 mo. USD LIBOR + 4.75%, Floor 0.75%), 3/1/27 | | | | | 765 | | | | 769,168 | |
| | | |
Banff Merger Sub, Inc.: | | | | | | | | |
| | | |
Term Loan, 3.882%, (3 mo. USD LIBOR + 3.75%), 10/2/25 | | | | | 2,745 | | | | 2,732,897 | |
| | | |
Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), 10/2/25 | | EUR | | | 491 | | | | 570,104 | |
| | | |
Term Loan - Second Lien, 2/27/26(25) | | | | | 900 | | | | 910,969 | |
| | | |
Barracuda Networks, Inc., Term Loan - Second Lien, 7.50%, (3 mo. USD LIBOR + 6.75%, Floor 0.75%), 10/30/28 | | | | | 400 | | | | 405,667 | |
| | | |
Buzz Merger Sub, Ltd.: | | | | | | | | |
| | | |
Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 1/29/27 | | | | | 566 | | | | 566,021 | |
| | | |
Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 1/29/27 | | | | | 60 | | | | 60,352 | |
| | | |
Celestica, Inc., Term Loan, 2.586%, (1 mo. USD LIBOR + 2.50%), 6/27/25 | | | | | 218 | | | | 217,500 | |
| | | |
CentralSquare Technologies, LLC, Term Loan, 3.882%, (3 mo. USD LIBOR + 3.75%), 8/29/25 | | | | | 875 | | | | 814,530 | |
| | | |
Cloudera, Inc.: | | | | | | | | |
| | | |
Term Loan, 8/10/28(25) | | | | | 2,800 | | | | 2,800,874 | |
| | | |
Term Loan - Second Lien, 8/10/29(25) | | | | | 775 | | | | 775,000 | |
| | | |
Cohu, Inc., Term Loan, 3.172%, (6 mo. USD LIBOR + 3.00%), 10/1/25 | | | | | 272 | | | | 271,042 | |
| | | |
CommScope, Inc., Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 4/6/26 | | | | | 1,789 | | | | 1,782,072 | |
| | | |
Concorde Midco, Ltd., Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 3/1/28 | | EUR | | | 1,000 | | | | 1,159,798 | |
| | | |
Constant Contact, Inc., Term Loan, 4.75%, (6 mo. USD LIBOR + 4.00%, Floor 0.75%), 2/10/28 | | | | | 1,747 | | | | 1,748,371 | |
| | | |
Cornerstone OnDemand, Inc., Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 4/22/27 | | | | | 1,452 | | | | 1,451,994 | |
| | | |
CPI International, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 7/26/24 | | | | | 660 | | | | 661,206 | |
| | | |
Creation Holdings, Inc., Term Loan, 9/14/28(25) | | | | | 975 | | | | 971,344 | |
| | | | | | | | | | |
Borrower/Description | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Electronics / Electrical (continued) | |
| | | |
Delta TopCo, Inc.: | | | | | | | | |
| | | |
Term Loan, 4.50%, (6 mo. USD LIBOR + 3.75%, Floor 0.75%), 12/1/27 | | | | | 1,397 | | | $ | 1,400,136 | |
| | | |
Term Loan - Second Lien, 8.00%, (6 mo. USD LIBOR + 7.25%, Floor 0.75%), 12/1/28 | | | | | 1,950 | | | | 1,974,375 | |
| | | |
ECI Macola Max Holding, LLC, Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 11/9/27 | | | | | 1,291 | | | | 1,293,309 | |
| | | |
Electro Rent Corporation, Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 1/31/24 | | | | | 1,822 | | | | 1,826,447 | |
| | | |
Epicor Software Corporation, Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), 7/30/27 | | | | | 786 | | | | 786,857 | |
| | | |
EXC Holdings III Corp., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 12/2/24 | | | | 655 | | | 657,994 | |
| | | |
Finastra USA, Inc., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/13/24 | | | | | 2,999 | | | | 2,978,692 | |
| | | |
Fiserv Investment Solutions, Inc., Term Loan, 4.155%, (3 mo. USD LIBOR + 4.00%), 2/18/27 | | | | | 518 | | | | 519,814 | |
| | | |
Gainwell Acquisition Corp., Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), 10/1/27 | | | | | 3,127 | | | | 3,138,973 | |
| | | |
Go Daddy Operating Company, LLC, Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 8/10/27 | | | | | 1,086 | | | | 1,080,886 | |
| | | |
Hyland Software, Inc., Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 7/1/24 | | | | | 7,687 | | | | 7,707,411 | |
| | | |
Informatica, LLC: | | | | | | | | |
| | | |
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/25/27 | | EUR | | | 3,448 | | | | 3,978,935 | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 2/25/27 | | | | | 5,664 | | | | 5,651,715 | |
| | | |
Term Loan - Second Lien, 7.125%, 2/25/25(27) | | | | | 500 | | | | 508,125 | |
| | | |
LogMeIn, Inc., Term Loan, 4.833%, (1 mo. USD LIBOR + 4.75%), 8/31/27 | | | | | 1,811 | | | | 1,812,586 | |
| | | |
MA FinanceCo., LLC: | | | | | | | | |
| | | |
Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 6/21/24 | | | | | 521 | | | | 517,007 | |
| | | |
Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), 6/5/25 | | EUR | | | 975 | | | | 1,139,556 | |
| | | |
Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), 6/5/25 | | | | | 1,755 | | | | 1,770,082 | |
| | | |
MACOM Technology Solutions Holdings, Inc., Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 5/17/24 | | | | | 264 | | | | 262,790 | |
| | | |
Magenta Buyer, LLC: | | | | | | | | |
| | | |
Term Loan, 5.75%, (3 mo. USD LIBOR + 5.00%, Floor 0.75%), 7/27/28 | | | | | 3,900 | | | | 3,905,850 | |
| | | |
Term Loan - Second Lien, 9.00%, (3 mo. USD LIBOR + 8.25%, Floor 0.75%), 7/27/29 | | | | | 1,050 | | | | 1,048,687 | |
| | | | |
| | 30 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | |
Borrower/Description | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Electronics / Electrical (continued) | |
| | | |
Marcel LUX IV S.a.r.l.: | | | | | | | | |
| | | |
Term Loan, 3.50%, (1 mo. EURIBOR + 3.50%), 3/16/26 | | EUR | | | 1,500 | | | $ | 1,737,525 | |
| | | |
Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), 12/31/27 | | | | | 95 | | | | 94,905 | |
| | | |
Mavenir Systems, Inc., Term Loan, 5.25%, (3 mo. USD LIBOR + 4.75%, Floor 0.50%), 8/13/28 | | | | | 375 | | | | 376,250 | |
| | | |
MaxLinear, Inc., Term Loan, 2.75%, (1 mo. USD LIBOR + 2.25%, Floor 0.50%), 6/23/28 | | | | | 752 | | | | 749,230 | |
| | | |
Mirion Technologies, Inc., Term Loan, 4.132%, (3 mo. USD LIBOR + 4.00%), 3/6/26 | | | | | 439 | | | | 440,428 | |
| | | |
NCR Corporation, Term Loan, 2.63%, (3 mo. USD LIBOR + 2.50%), 8/28/26 | | | | | 929 | | | | 921,660 | |
| | | |
Nobel Bidco B.V., Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 6/10/28 | | EUR | | | 1,000 | | | | 1,158,763 | |
| | | |
Panther Commercial Holdings L.P., Term Loan, 4.75%, (3 mo. USD LIBOR + 4.25%, Floor 0.50%), 1/7/28 | | | | | 599 | | | | 601,492 | |
| | | |
Polaris Newco, LLC: | | | | | | | | |
| | | |
Term Loan, 4.00%, (6 mo. EURIBOR + 4.00%), 6/2/28 | | EUR | | | 1,000 | | | | 1,160,844 | |
| | | |
Term Loan, 4.50%, (6 mo. USD LIBOR + 4.00%, Floor 0.50%), 6/2/28 | | | | | 2,425 | | | | 2,433,184 | |
| | | |
Poseidon Intermediate, LLC, Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 8/18/25 | | | | | 249 | | | | 249,562 | |
| | | |
Proofpoint, Inc., Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 8/31/28 | | | | | 2,500 | | | | 2,488,890 | |
| | | |
ProQuest, LLC, Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 10/23/26 | | | | | 1,342 | | | | 1,342,120 | |
| | | |
Rackspace Technology Global, Inc., Term Loan, 3.50%, (3 mo. USD LIBOR + 2.75%, Floor 0.75%), 2/15/28 | | | | | 1,343 | | | | 1,334,473 | |
| | | |
RealPage, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), 4/24/28 | | | | | 2,600 | | | | 2,594,387 | |
| | | |
Recorded Books, Inc., Term Loan, 4.083%, (1 mo. USD LIBOR + 4.00%), 8/29/25 | | | | | 1,660 | | | | 1,663,863 | |
| | | |
Renaissance Holding Corp.: | | | | | | | | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 5/30/25 | | | | | 1,704 | | | | 1,692,343 | |
| | | |
Term Loan - Second Lien, 7.084%, (1 mo. USD LIBOR + 7.00%), 5/29/26 | | | | | 200 | | | | 201,150 | |
| | | |
Riverbed Technology, Inc., Term Loan - Second Lien, 12.00%, (3 mo. USD LIBOR + 11.00%, Floor 1.00%), 7.50% cash, 4.50% PIK, 12/31/26 | | | | | 1,581 | | | | 1,083,075 | |
| | | |
Seattle Spinco, Inc., Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 6/21/24 | | | | | 3,517 | | | | 3,491,473 | |
| | | |
SolarWinds Holdings, Inc., Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 2/5/24 | | | | | 1,154 | | | | 1,144,195 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Electronics / Electrical (continued) | |
| | | |
Sophia L.P., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 10/7/27 | | | | | | | 397 | | | $ | 398,944 | |
| | | |
Sovos Compliance, LLC: | | | | | | | | | |
| | | |
Term Loan, 0.00%, 8/11/28(24) | | | | | | | 110 | | | | 111,256 | |
| | | |
Term Loan, 5.00%, (3 mo. USD LIBOR + 4.50%, Floor 0.50%), 8/11/28 | | | | | | | 640 | | | | 644,252 | |
| | | |
SS&C European Holdings S.a.r.l., Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 4/16/25 | | | | | | | 927 | | | | 918,757 | |
| | | |
SS&C Technologies, Inc., Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 4/16/25 | | | | | | | 1,224 | | | | 1,213,288 | |
| | | |
SurveyMonkey, Inc., Term Loan, 3.83%, (1 week USD LIBOR + 3.75%), 10/10/25 | | | | | | | 711 | | | | 709,555 | |
| | | |
Tibco Software, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.84%, (1 mo. USD LIBOR + 3.75%), 6/30/26 | | | | | | | 5,058 | | | | 5,047,009 | |
| | | |
Term Loan - Second Lien, 7.34%, (1 mo. USD LIBOR + 7.25%), 3/3/28 | | | | | | | 475 | | | | 480,937 | |
| | | |
TTM Technologies, Inc., Term Loan, 2.586%, (1 mo. USD LIBOR + 2.50%), 9/28/24 | | | | | | | 150 | | | | 150,216 | |
| | | |
Turing Midco, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 3/23/28 | | | | | | | 342 | | | | 342,377 | |
| | | |
Uber Technologies, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 4/4/25 | | | | | | | 7,653 | | | | 7,660,487 | |
| | | |
Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 2/25/27 | | | | | | | 3,468 | | | | 3,469,359 | |
| | | |
Ultimate Software Group, Inc. (The): | | | | | | | | | |
| | | |
Term Loan, 3.834%, (1 mo. USD LIBOR + 3.75%), 5/4/26 | | | | | | | 1,691 | | | | 1,696,417 | |
| | | |
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.25%, Floor 0.75%), 5/4/26 | | | | | | | 3,911 | | | | 3,923,283 | |
| | | |
Ultra Clean Holdings, Inc., Term Loan, 3.834%, (1 mo. USD LIBOR + 3.75%), 8/27/25 | | | | | | | 668 | | | | 669,650 | |
| | | |
Verifone Systems, Inc., Term Loan, 4.129%, (3 mo. USD LIBOR + 4.00%), 8/20/25 | | | | | | | 1,241 | | | | 1,219,404 | |
| | | |
Verisure Holding AB, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 3/27/28 | | | EUR | | | | 1,000 | | | | 1,153,463 | |
| | | |
Veritas US, Inc.: | | | | | | | | | |
| | | |
Term Loan, 5.75%, (3 mo. EURIBOR + 4.75%, Floor 1.00%), 9/1/25 | | | EUR | | | | 990 | | | | 1,155,230 | |
| | | |
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 9/1/25 | | | | | | | 2,450 | | | | 2,465,611 | |
| | | |
VS Buyer, LLC, Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 2/28/27 | | | | | | | 1,084 | | | | 1,081,875 | |
| | | |
| | | | | | | | | | $ | 131,357,332 | |
| | | | |
| | 31 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Equipment Leasing — 0.2% | |
| | | |
Boels Topholding B.V., Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/6/27 | | | EUR | | | | 1,000 | | | $ | 1,157,445 | |
| | | |
Delos Finance S.a.r.l., Term Loan, 1.882%, (3 mo. USD LIBOR + 1.75%), 10/6/23 | | | | | | | 2,293 | | | | 2,293,575 | |
| | | |
| | | | | | | | | | $ | 3,451,020 | |
|
Financial Intermediaries — 1.5% | |
| | | |
Aretec Group, Inc., Term Loan, 4.334%, (1 mo. USD LIBOR + 4.25%), 10/1/25 | | | | | | | 2,342 | | | $ | 2,338,848 | |
| | | |
Citco Funding, LLC, Term Loan, 2.658%, (6 mo. USD LIBOR + 2.50%), 9/28/23 | | | | | | | 3,894 | | | | 3,893,853 | |
| | | |
CoreLogic, Inc., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 6/2/28 | | | | | | | 5,150 | | | | 5,144,206 | |
| | | |
Ditech Holding Corporation, Term Loan, 0.00%, 6/30/22(21) | | | | | | | 2,694 | | | | 538,898 | |
| | | |
EIG Management Company, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 2/22/25 | | | | | | | 265 | | | | 265,375 | |
| | | |
FinCo I, LLC, Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 6/27/25 | | | | | | | 857 | | | | 855,359 | |
| | | |
Focus Financial Partners, LLC, Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 7/3/24 | | | | | | | 2,961 | | | | 2,944,519 | |
| | | |
Franklin Square Holdings, L.P., Term Loan, 2.375%, (1 mo. USD LIBOR + 2.25%), 8/1/25 | | | | | | | 533 | | | | 531,498 | |
| | | |
Greenhill & Co., Inc., Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 4/12/24 | | | | | | | 953 | | | | 952,267 | |
| | | |
GreenSky Holdings, LLC, Term Loan, 3.375%, (1 mo. USD LIBOR + 3.25%), 3/31/25 | | | | | | | 1,496 | | | | 1,492,011 | |
| | | |
Guggenheim Partners, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 2.75%, Floor 0.75%), 7/21/23 | | | | | | | 2,661 | | | | 2,668,029 | |
| | | |
Mariner Wealth Advisors, LLC: | | | | | | | | | |
| | | |
Term Loan, 0.00%, 8/18/28(24) | | | | | | | 63 | | | | 62,344 | |
| | | |
Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 8/18/28 | | | | | | | 438 | | | | 436,406 | |
| | | |
Victory Capital Holdings, Inc., Term Loan, 2.395%, (3 mo. USD LIBOR + 2.25%), 7/1/26 | | | | | | | 904 | | | | 901,796 | |
| | | |
| | | | | | | | | | $ | 23,025,409 | |
|
Food Products — 1.4% | |
| | | |
8th Avenue Food & Provisions, Inc., Term Loan, 5.50%, (1 mo. USD LIBOR + 4.75%, Floor 0.75%), 10/1/25 | | | | | | | 600 | | | $ | 594,000 | |
| | | |
Badger Buyer Corp., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 9/30/24 | | | | | | | 384 | | | | 376,560 | |
| | | |
CHG PPC Parent, LLC, Term Loan, 3.50%, (1 mo. EURIBOR + 3.50%), 3/31/25 | | | EUR | | | | 2,000 | | | | 2,321,044 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Food Products (continued) | |
| | | |
Froneri International, Ltd.: | | | | | | | | | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 1/29/27 | | | | | | | 2,173 | | | $ | 2,149,587 | |
| | | |
Term Loan, 2.375%, (6 mo. EURIBOR + 2.375%), 1/29/27 | | | EUR | | | | 1,275 | | | | 1,445,973 | |
| | | |
H Food Holdings, LLC: | | | | | | | | | | | | |
| | | |
Term Loan, 3.772%, (1 mo. USD LIBOR + 3.69%), 5/23/25 | | | | | | | 750 | | | | 748,607 | |
| | | |
Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 5/23/25 | | | | | | | 462 | | | | 462,948 | |
| | | |
HLF Financing S.a.r.l., Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 8/18/25 | | | | | | | 979 | | | | 974,488 | |
| | | |
JBS USA LUX S.A., Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 5/1/26 | | | | | | | 4,656 | | | | 4,642,044 | |
| | | |
Monogram Food Solutions, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 4.00%, Floor 0.50%), 8/28/28 | | | | | | | 550 | | | | 551,375 | |
| | | |
Nomad Foods Europe Midco Limited, Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 6/17/28 | | | EUR | | | | 3,000 | | | | 3,497,078 | |
| | | |
Shearer’s Foods, Inc., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 9/23/27 | | | | | | | 396 | | | | 396,063 | |
| | | |
Simply Good Foods USA, Inc., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 7/7/24 | | | | | | | 279 | | | | 279,809 | |
| | | |
Sunshine Investments B.V., Term Loan, 3.568%, (3 mo. GBP LIBOR + 3.50%), 3/28/25 | | | GBP | | | | 750 | | | | 1,009,129 | |
| | | |
United Petfood Group B.V., Term Loan, 3.25%, (6 mo. EURIBOR + 3.25%), 4/23/28 | | | EUR | | | | 750 | | | | 864,419 | |
| | | |
Valeo F1 Company Limited (Ireland), Term Loan, 6/30/28(25) | | | EUR | | | | 1,000 | | | | 1,156,541 | |
| | | |
| | | | | | | | | | $ | 21,469,665 | |
|
Food Service — 0.4% | |
| | | |
Aramark Services, Inc., Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 3/11/25 | | | | | | | 933 | | | $ | 914,398 | |
| | | |
IRB Holding Corp., Term Loan, 3.75%, (USD LIBOR + 2.75%, Floor 1.00%), 2/5/25(26) | | | | | | | 2,205 | | | | 2,205,127 | |
| | | |
Sovos Brands Intermediate, Inc., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 6/8/28 | | | | | | | 538 | | | | 539,587 | |
| | | |
US Foods, Inc.: | | | | | | | | | |
| | | |
Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 6/27/23 | | | | | | | 722 | | | | 718,824 | |
| | | |
Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 9/13/26 | | | | | | | 1,691 | | | | 1,671,482 | |
| | | |
| | | | | | | | | | $ | 6,049,418 | |
| | | | |
| | 32 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Food / Drug Retailers — 0.1% | |
| | | |
L1R HB Finance Limited, Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), 8/9/24 | | | EUR | | | | 750 | | | $ | 830,211 | |
| | | |
| | | | | | | | | | $ | 830,211 | |
|
Forest Products — 0.1% | |
| | | |
Clearwater Paper Corporation, Term Loan, 3.125%, (1 mo. USD LIBOR + 3.00%), 7/26/26 | | | | | | | 104 | | | $ | 104,125 | |
| | | |
Journey Personal Care Corp., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 3/1/28 | | | | | | | 1,047 | | | | 1,050,866 | |
| | | |
Neenah, Inc., Term Loan, 3.50%, (3 mo. USD LIBOR + 3.00%, Floor 0.50%), 4/6/28 | | | | | | | 399 | | | | 400,995 | |
| | | |
| | | | | | | | | | $ | 1,555,986 | |
|
Health Care — 4.9% | |
| | | |
Accelerated Health Systems, LLC, Term Loan, 3.586%, (1 mo. USD LIBOR + 3.50%), 10/31/25 | | | | | | | 559 | | | $ | 557,440 | |
| | | |
ADMI Corp., Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 4/30/25 | | | | | | | 1,790 | | | | 1,770,737 | |
| | | |
AEA International Holdings (Lux) S.a.r.l., Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 8/5/28 | | | | | 1,075 | | | 1,076,344 | |
| | | |
AI Sirona (Luxembourg) Acquisition S.a.r.l., Term Loan, 3.50%, (1 mo. EURIBOR + 3.50%), 9/29/25 | | | EUR | | | | 1,000 | | | | 1,156,067 | |
| | | |
athenahealth, Inc., Term Loan, 4.377%, (3 mo. USD LIBOR + 4.25%), 2/11/26 | | | | | | | 2,478 | | | | 2,487,897 | |
| | | |
Avantor Funding, Inc., Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 6/12/28 | | | EUR | | | | 998 | | | | 1,156,718 | |
| | | |
Bayou Intermediate II, LLC, Term Loan, 5.25%, (3 mo. USD LIBOR + 4.50%, Floor 0.75%), 8/2/28 | | | | | | | 750 | | | | 752,812 | |
| | | |
Biogroup-LCD, Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), 1/28/28 | | | EUR | | | | 750 | | | | 866,245 | |
| | | |
BW NHHC Holdco, Inc., Term Loan, 5.125%, (3 mo. USD LIBOR + 5.00%), 5/15/25 | | | | | | | 3,729 | | | | 3,304,465 | |
| | | |
CCRR Parent, Inc., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/6/28 | | | | | | | 448 | | | | 449,849 | |
| | | |
CeramTec AcquiCo GmbH, Term Loan, 2.50%, (3 mo. EURIBOR + 2.50%), 3/7/25 | | | EUR | | | | 1,903 | | | | 2,196,771 | |
| | | |
Cerba Healthcare S.A.S., Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 5/24/28 | | | EUR | | | | 1,250 | | | | 1,449,672 | |
| | | |
Change Healthcare Holdings, LLC, Term Loan, 3.50%, (USD LIBOR + 2.50%, Floor 1.00%), 3/1/24(26) | | | | | | | 5,140 | | | | 5,139,457 | |
| | | |
CHG Healthcare Services, Inc., Term Loan, 9/29/28(25) | | | | | | | 1,100 | | | | 1,100,000 | |
| | | |
CryoLife, Inc., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/1/27 | | | | | | | 529 | | | | 530,698 | |
| | | |
Dedalus Finance GmbH, Term Loan, 3.75%, (6 mo. EURIBOR + 3.75%), 5/4/27 | | | EUR | | | | 500 | | | | 579,847 | |
| | | | | | | | | | |
Borrower/Description | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Health Care (continued) | |
| | | |
Elsan S.A.S., Term Loan, 3.50%, (EURIBOR + 3.50%), 6/16/28(26) | | EUR | | | 1,500 | | | $ | 1,738,772 | |
| | | |
Ensemble RCM, LLC, Term Loan, 3.879%, (3 mo. USD LIBOR + 3.75%), 8/3/26 | | | | | 1,333 | | | | 1,337,400 | |
| | | |
Envision Healthcare Corporation, Term Loan, 3.834%, (1 mo. USD LIBOR + 3.75%), 10/10/25 | | | | | 8,905 | | | | 7,948,140 | |
| | | |
Gentiva Health Services, Inc., Term Loan, 2.875%, (1 mo. USD LIBOR + 2.75%), 7/2/25 | | | | | 1,913 | | | | 1,914,949 | |
| | | |
GHX Ultimate Parent Corporation, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), 6/28/24 | | | | | 936 | | | | 936,918 | |
| | | |
Hanger, Inc., Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 3/6/25 | | | | | 1,110 | | | | 1,109,923 | |
| | | |
Inovalon Holdings, Inc., Term Loan, 2.875%, (1 mo. USD LIBOR + 2.75%), 4/2/25 | | | | | 1,195 | | | | 1,194,940 | |
| | | |
IQVIA, Inc.: | | | | | | | | |
| | | |
Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 3/7/24 | | | | | 1,431 | | | | 1,429,614 | |
| | | |
Term Loan, 1.834%, (1 mo. USD LIBOR + 1.75%), 1/17/25 | | | | | 1,363 | | | | 1,361,117 | |
| | | |
IVC Acquisition Ltd., Term Loan, 4.452%, (1 mo. GBP SONIA + 4.40%), 2/13/26 | | GBP | | | 1,000 | | | | 1,350,769 | |
| | | |
MDVIP, Inc., Term Loan, 9/29/28(25) | | | | | 275 | | | | 275,430 | |
| | | |
Medical Solutions, LLC, Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 6/14/24 | | | | | 1,210 | | | | 1,212,981 | |
| | | |
Mehilainen Yhtiot Oy, Term Loan, 3.625%, (3 mo. EURIBOR + 3.625%), 8/11/25 | | EUR | | | 1,000 | | | | 1,159,154 | |
| | | |
Midwest Physician Administrative Services, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.00%, Floor 0.75%), 3/12/28 | | | | | 473 | | | | 470,754 | |
| | | |
National Mentor Holdings, Inc.: | | | | | | | | |
| | | |
Term Loan, 3.75%, 3/2/28(24) | | | | | 86 | | | | 86,067 | |
| | | |
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/2/28 | | | | | 58 | | | | 58,390 | |
| | | |
Term Loan, 4.50%, (USD LIBOR + 3.75%, Floor 0.75%), 3/2/28(26) | | | | | 1,847 | | | | 1,849,563 | |
| | | |
Navicure, Inc., Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 10/22/26 | | | | | 1,679 | | | | 1,682,624 | |
| | | |
Ortho-Clinical Diagnostics S.A.: | | | | | | | | |
| | | |
Term Loan, 3.083%, (1 mo. USD LIBOR + 3.00%), 6/30/25 | | | | | 1,954 | | | | 1,954,580 | |
| | | |
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 6/30/25 | | EUR | | | 714 | | | | 828,580 | |
| | | |
Pacific Dental Services, LLC, Term Loan, 4.25%, (1 mo. USD LIBOR + 3.50%, Floor 0.75%), 5/5/28 | | | | | 499 | | | | 500,854 | |
| | | |
Parexel International Corporation, Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 9/27/24 | | | | | 566 | | | | 565,325 | |
| | | | |
| | 33 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Health Care (continued) | |
| | | |
Phoenix Guarantor, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.336%, (1 mo. USD LIBOR + 3.25%), 3/5/26 | | | | | | | 1,906 | | | $ | 1,897,359 | |
| | | |
Term Loan, 3.585%, (1 mo. USD LIBOR + 3.50%), 3/5/26 | | | | | | | 1,317 | | | | 1,313,961 | |
| | | |
Project Ruby Ultimate Parent Corp., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), 3/3/28 | | | | | | | 1,045 | | | | 1,044,178 | |
| | | |
Radiology Partners, Inc., Term Loan, 4.334%, (1 mo. USD LIBOR + 4.25%), 7/9/25 | | | | | 1,197 | | | 1,197,352 | |
| | | |
Radnet Management, Inc., Term Loan, 3.75%, (3 mo. USD LIBOR + 3.00%, Floor 0.75%), 4/21/28 | | | | | | | 1,022 | | | | 1,021,958 | |
| | | |
Ramsay Generale de Sante S.A., Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), 4/22/27 | | | EUR | | | | 500 | | | | 579,382 | |
| | | |
Select Medical Corporation, Term Loan, 2.34%, (1 mo. USD LIBOR + 2.25%), 3/6/25 | | | | | | | 2,968 | | | | 2,955,284 | |
| | | |
Sound Inpatient Physicians, Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 6/27/25 | | | | | | | 484 | | | | 482,152 | |
| | | |
Sunshine Luxembourg VII S.a.r.l., Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 10/1/26 | | | | | | | 199 | | | | 199,762 | |
| | | |
Surgery Center Holdings, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 8/31/26 | | | | | | | 1,056 | | | | 1,059,199 | |
| | | |
Synlab Bondco PLC, Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), 7/1/27 | | | EUR | | | | 500 | | | | 577,201 | |
| | | |
Team Health Holdings, Inc., Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), 2/6/24 | | | | | | | 2,316 | | | | 2,264,595 | |
| | | |
U.S. Anesthesia Partners, Inc.: | | | | | | | | | |
| | | |
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), 6/23/24 | | | | | | | 1,658 | | | | 1,658,103 | |
| | | |
Term Loan, 10/1/28(25) | | | | | | | 2,025 | | | | 2,030,344 | |
| | | |
Verscend Holding Corp., Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 8/27/25 | | | | | | | 2,229 | | | | 2,235,536 | |
| | | |
| | | | | | | | | | $ | 76,058,229 | |
|
Home Furnishings — 1.0% | |
| | | |
ACProducts, Inc., Term Loan, 4.75%, (3 mo. USD LIBOR + 4.25%, Floor 0.50%), 5/17/28 | | | | | | | 1,771 | | | $ | 1,770,880 | |
| | | |
Conair Holdings, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.75%, Floor 0.50%), 5/17/28 | | | | | | | 1,550 | | | | 1,553,068 | |
| | | |
Mattress Firm, Inc., Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 9/25/28 | | | | | | | 1,250 | | | | 1,249,610 | |
| | | |
Serta Simmons Bedding, LLC: | | | | | | | | | |
| | | |
Term Loan, 8.50%, (1 mo. USD LIBOR + 7.50%, Floor 1.00%), 8/10/23 | | | | | | | 2,467 | | | | 2,495,863 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Home Furnishings (continued) | |
| | | |
Serta Simmons Bedding, LLC: (continued) | | | | | | | | | |
| | | |
Term Loan - Second Lien, 8.50%, (1 mo. USD LIBOR + 7.50%, Floor 1.00%), 8/10/23 | | | | | | | 8,156 | | | $ | 7,771,141 | |
| | | |
| | | | | | | | | | $ | 14,840,562 | |
|
Industrial Equipment — 2.6% | |
| | | |
AI Alpine AT Bidco GmbH, Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 10/31/25 | | | EUR | | | | 750 | | | $ | 854,404 | |
| | | |
Alliance Laundry Systems, LLC, Term Loan, 4.25%, (3 mo. USD LIBOR + 3.50%, Floor 0.75%), 10/8/27 | | | | | | | 1,080 | | | | 1,082,327 | |
| | | |
Altra Industrial Motion Corp., Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 10/1/25 | | | | | | | 543 | | | | 542,944 | |
| | | |
American Trailer World Corp., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/3/28 | | | | | | | 524 | | | | 521,833 | |
| | | |
Apex Tool Group, LLC, Term Loan, 6.50%, (1 mo. USD LIBOR + 5.25%, Floor 1.25%), 8/1/24 | | | | | | | 4,284 | | | | 4,295,329 | |
| | | |
CFS Brands, LLC, Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), 3/20/25 | | | | | | | 265 | | | | 258,713 | |
| | | |
CPM Holdings, Inc., Term Loan, 3.586%, (1 mo. USD LIBOR + 3.50%), 11/17/25 | | | | | | | 316 | | | | 314,877 | |
| | | |
Delachaux Group S.A.: | | | | | | | | | |
| | | |
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 4/16/26 | | | EUR | | | | 369 | | | | 428,428 | |
| | | |
Term Loan, 4.629%, (3 mo. USD LIBOR + 4.50%), 4/16/26 | | | | | | | 466 | | | | 466,082 | |
| | | |
DexKo Global, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 7/24/24 | | | EUR | | | | 316 | | | | 366,113 | |
| | | |
Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 7/24/24 | | | EUR | | | | 790 | | | | 915,288 | |
| | | |
Term Loan, 4.25%, (1 week USD LIBOR + 3.25%, Floor 1.00%), 7/24/24 | | | | | | | 910 | | | | 910,287 | |
| | | |
Term Loan, 9/22/28(25) | | | | | | | 132 | | | | 131,340 | |
| | | |
Term Loan, 9/22/28(25) | | | EUR | | | | 309 | | | | 356,565 | |
| | | |
Term Loan, 9/22/28(25) | | | EUR | | | | 595 | | | | 685,666 | |
| | | |
Term Loan, 9/23/28(25) | | | EUR | | | | 96 | | | | 110,326 | |
| | | |
Term Loan, 9/23/28(25) | | | | | | | 693 | | | | 689,535 | |
| | | |
Dynacast International, LLC: | | | | | | | | | |
| | | |
Term Loan, 5.75%, (3 mo. USD LIBOR + 4.75%, Floor 1.00%), 7/22/25 | | | | | | | 1,064 | | | | 1,069,041 | |
| | | |
Term Loan, 10.25%, (3 mo. USD LIBOR + 9.25%, Floor 1.00%), 10/22/25 | | | | | | | 411 | | | | 423,923 | |
| | | |
Engineered Machinery Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), 5/5/28 | | | EUR | | | | 1,000 | | | | 1,158,531 | |
| | | |
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), 5/19/28 | | | | | | | 1,885 | | | | 1,885,786 | |
| | | | |
| | 34 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Industrial Equipment (continued) | |
| | | |
Filtration Group Corporation: | | | | | | | | | |
| | | |
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), 3/29/25 | | | EUR | | | | 1,367 | | | $ | 1,582,575 | |
| | | |
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/29/25 | | | | | | | 347 | | | | 347,614 | |
| | | |
Gardner Denver, Inc., Term Loan, 2.00%, (1 mo. EURIBOR + 2.00%), 3/1/27 | | | EUR | | | | 1,423 | | | | 1,626,955 | |
| | | |
GrafTech Finance, Inc., Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 2/12/25 | | | | | | | 1,452 | | | | 1,455,820 | |
| | | |
Granite Holdings US Acquisition Co., Term Loan, 4.132%, (3 mo. USD LIBOR + 4.00%), 9/30/26 | | | | | | | 1,017 | | | | 1,017,959 | |
| | | |
Harsco Corporation, Term Loan, 2.75%, (1 mo. USD LIBOR + 2.25%, Floor 0.50%), 3/5/28 | | | | | | | 399 | | | | 398,501 | |
| | | |
LTI Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 9/6/25 | | | | | | | 3,400 | | | | 3,358,856 | |
| | | |
Term Loan, 4.75%, 7/24/26(24) | | | | | | | 197 | | | | 196,793 | |
| | | |
Term Loan, 4.834%, (1 mo. USD LIBOR + 4.75%), 7/24/26 | | | | | | | 196 | | | | 196,490 | |
| | | |
Term Loan, 4.834%, (1 mo. USD LIBOR + 4.75%), 7/24/26 | | | | | | | 327 | | | | 327,168 | |
| | | |
Minimax Viking GmbH, Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), 7/31/25 | | | EUR | | | | 960 | | | | 1,111,922 | |
| | | |
Quimper AB, Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 2/16/26 | | | EUR | | | | 1,875 | | | | 2,162,554 | |
| | | |
Robertshaw US Holding Corp., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 2/28/25 | | | | | | | 1,013 | | | | 983,486 | |
| | | |
Tiger Acquisition, LLC, Term Loan, 3.75%, (3 mo. USD LIBOR + 3.25%, Floor 0.50%), 6/1/28 | | | | | | | 500 | | | | 499,375 | |
| | | |
Titan Acquisition Limited, Term Loan, 3.167%, (3 mo. USD LIBOR + 3.00%), 3/28/25 | | | | | | | 3,064 | | | | 3,015,994 | |
| | | |
Vertical US Newco, Inc., Term Loan, 4.00%, (6 mo. USD LIBOR + 3.50%, Floor 0.50%), 7/29/27 | | | | | | | 1,213 | | | | 1,216,586 | |
| | | |
Welbilt, Inc., Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 10/23/25 | | | | | | | 1,767 | | | | 1,765,221 | |
| | | |
Zephyr German BidCo GmbH, Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), 3/10/28 | | | EUR | | | | 1,500 | | | | 1,733,615 | |
| | | |
| | | | | | | | | | $ | 40,464,822 | |
|
Insurance — 2.2% | |
| | | |
Alliant Holdings Intermediate, LLC: | | | | | | | | | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 5/9/25 | | | | | | | 464 | | | $ | 461,439 | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 5/9/25 | | | | | | | 2,688 | | | | 2,671,237 | |
| | | |
AmWINS Group, Inc., Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), 2/19/28 | | | | | | | 3,846 | | | | 3,825,513 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Insurance (continued) | |
| | | |
Andromeda Investissements, Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), 6/12/26 | | | EUR | | | | 1,250 | | | $ | 1,437,682 | |
| | | |
AssuredPartners, Inc., Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 2/12/27 | | | | | | | 172 | | | | 171,066 | |
| | | |
Asurion, LLC: | | | | | | | | | |
| | | |
Term Loan, 3.209%, (1 mo. USD LIBOR + 3.125%), 11/3/23 | | | | | | | 1,534 | | | | 1,527,901 | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 12/23/26 | | | | | | | 3,136 | | | | 3,093,502 | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 7/31/27 | | | | | | | 1,105 | | | | 1,090,347 | |
| | | |
Term Loan - Second Lien, 5.334%, (1 mo. USD LIBOR + 5.25%), 1/31/28 | | | | | | | 1,350 | | | | 1,347,750 | |
| | | |
Financiere CEP S.A.S., Term Loan, 4.00%, (1 mo. EURIBOR + 4.00%), 6/18/27 | | | EUR | | | | 750 | | | | 873,377 | |
| | | |
Hub International Limited: | | | | | | | | | |
| | | |
Term Loan, 2.875%, (3 mo. USD LIBOR + 2.75%), 4/25/25 | | | | | | | 5,031 | | | | 4,989,077 | |
| | | |
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.25%, Floor 0.75%), 4/25/25 | | | | | | | 1,842 | | | | 1,845,700 | |
| | | |
NFP Corp., Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 2/15/27 | | | | | | | 3,139 | | | | 3,111,962 | |
| | | |
Ryan Specialty Group, LLC, Term Loan, 3.75%, (1 mo. USD LIBOR + 3.00%, Floor 0.75%), 9/1/27 | | | | | | | 1,708 | | | | 1,711,307 | |
| | | |
Sedgwick Claims Management Services, Inc., Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 12/31/25 | | | | | | | 1,240 | | | | 1,231,510 | |
| | | |
USI, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.132%, (3 mo. USD LIBOR + 3.00%), 5/16/24 | | | | | | | 3,120 | | | | 3,103,286 | |
| | | |
Term Loan, 3.382%, (3 mo. USD LIBOR + 3.25%), 12/2/26 | | | | | | | 1,400 | | | | 1,393,254 | |
| | | |
| | | | | | | | | | $ | 33,885,910 | |
|
Leisure Goods / Activities / Movies — 1.6% | |
| | | |
AMC Entertainment Holdings, Inc., Term Loan, 3.083%, (1 mo. USD LIBOR + 3.00%), 4/22/26 | | | | | | | 1,828 | | | $ | 1,701,952 | |
| | | |
Amer Sports Oyj, Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), 3/30/26 | | | EUR | | | | 1,550 | | | | 1,799,744 | |
| | | |
Carnival Corporation: | | | | | | | | | |
| | | |
Term Loan, 3.75%, (6 mo. EURIBOR + 3.75%), 6/30/25 | | | EUR | | | | 995 | | | | 1,152,958 | |
| | | |
Term Loan, 3.75%, (3 mo. USD LIBOR + 3.00%, Floor 0.75%), 6/30/25 | | | | | | | 1,284 | | | | 1,280,541 | |
| | | |
City Football Group Limited, Term Loan, 4.00%, (3 mo. USD LIBOR + 3.50%, Floor 0.50%), 7/21/28 | | | | | | | 1,375 | | | | 1,373,281 | |
| | | | |
| | 35 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Leisure Goods / Activities / Movies (continued) | |
| | | |
ClubCorp Holdings, Inc., Term Loan, 2.882%, (3 mo. USD LIBOR + 2.75%), 9/18/24 | | | | | | | 1,920 | | | $ | 1,809,600 | |
| | | |
Crown Finance US, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.75%, (3 mo. USD LIBOR + 2.75%, Floor 1.00%), 9/30/26 | | | | | | | 1,502 | | | | 1,226,079 | |
| | | |
Term Loan, 9.25%, (3 mo. USD LIBOR + 8.25%, Floor 1.00%), 5/23/24 | | | | | | | 210 | | | | 226,740 | |
| | | |
Term Loan, 15.25%, (7.00% cash, 8.25% PIK), 5/23/24(27) | | | | | | | 263 | | | | 326,237 | |
| | | |
Term Loan, 2/28/25(25) | | | | | | | 340 | | | | 280,673 | |
| | | |
Delta 2 (LUX) S.a.r.l., Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), 2/1/24 | | | | | | | 1,125 | | | | 1,124,004 | |
| | | |
Etraveli Holding AB, Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), 8/2/24 | | | EUR | | | | 950 | | | | 1,086,677 | |
| | | |
Lindblad Expeditions, Inc.: | | | | | | | | | |
| | | |
Term Loan, 6.00%, (1 mo. USD LIBOR + 5.25%, Floor 0.75%), 4.75% cash, 1.25% PIK, 3/27/25 | | | | | | | 465 | | | | 439,268 | |
| | | |
Term Loan, 6.00%, (1 mo. USD LIBOR + 5.25%, Floor 0.75%), 4.75% cash, 1.25% PIK, 3/27/25 | | | | | | | 1,859 | | | | 1,757,072 | |
| | | |
Match Group, Inc., Term Loan, 1.874%, (3 mo. USD LIBOR + 1.75%), 2/13/27 | | | | | | | 675 | | | | 672,750 | |
| | | |
Playtika Holding Corp., Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 3/13/28 | | | | | | | 2,203 | | | | 2,205,142 | |
| | | |
Sandy BidCo B.V., Term Loan, 9/16/28(25) | | | EUR | | | | 1,000 | | | | 1,161,065 | |
| | | |
SeaWorld Parks & Entertainment, Inc., Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 8/25/28 | | | | | | | 900 | | | | 898,650 | |
| | | |
Steinway Musical Instruments, Inc., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 2/14/25 | | | | | | | 198 | | | | 197,002 | |
| | | |
Travel Leaders Group, LLC, Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 1/25/24 | | | | | | | 943 | | | | 884,945 | |
| | | |
UFC Holdings, LLC, Term Loan, 3.50%, (6 mo. USD LIBOR + 2.75%, Floor 0.75%), 4/29/26 | | | | | | | 2,856 | | | | 2,853,933 | |
| | | |
Vue International Bidco PLC, Term Loan, 4.75%, (6 mo. EURIBOR + 4.75%), 7/3/26 | | | EUR | | | | 1,081 | | | | 1,181,394 | |
| | | |
| | | | | | | | | | $ | 25,639,707 | |
|
Lodging and Casinos — 1.1% | |
| | | |
Boyd Gaming Corporation, Term Loan, 2.322%, (1 week USD LIBOR + 2.25%), 9/15/23 | | | | | | | 715 | | | $ | 714,663 | |
| | | |
Four Seasons Hotels Limited, Term Loan, 2.087%, (1 mo. USD LIBOR + 2.00%), 11/30/23 | | | | | | | 1,048 | | | | 1,046,222 | |
| | | |
Golden Nugget, Inc., Term Loan, 3.25%, (2 mo. USD LIBOR + 2.50%, Floor 0.75%), 10/4/23 | | | | | | | 4,225 | | | | 4,208,800 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Lodging and Casinos (continued) | |
| | | |
GVC Holdings PLC, Term Loan, 2.25%, (6 mo. EURIBOR + 2.25%), 3/29/24 | | | EUR | | | | 1,850 | | | $ | 2,134,778 | |
| | | |
Hilton Grand Vacations Borrower, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 8/2/28 | | | | | | | 925 | | | | 928,238 | |
| | | |
Oravel Stays Singapore Pte. Ltd., Term Loan, 9.00%, (3 mo. USD LIBOR + 8.25%, Floor 0.75%), 6/23/26 | | | | | | | 549 | | | | 578,799 | |
| | | |
Playa Resorts Holding B.V., Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), 4/29/24 | | | | | | | 2,549 | | | | 2,499,425 | |
| | | |
Sportradar Capital S.a.r.l., Term Loan, 4.25%, (6 mo. EURIBOR + 4.25%), 11/22/27 | | | EUR | | | | 750 | | | | 873,287 | |
| | | |
Stars Group Holdings B.V. (The), Term Loan, 2.382%, (3 mo. USD LIBOR + 2.25%), 7/21/26 | | | | | | | 2,275 | | | | 2,270,261 | |
| | | |
Twin River Worldwide Holdings, Inc., Term Loan, 8/6/28(25) | | | | | | | 1,175 | | | | 1,176,194 | |
| | | |
| | | | | | | | | | $ | 16,430,667 | |
|
Nonferrous Metals / Minerals — 0.1% | |
| | | |
American Consolidated Natural Resources, Inc., Term Loan, 17.00%, (3 mo. USD LIBOR + 16.00%, Floor 1.00%), 14.00% cash, 3.00% PIK, 9/16/25 | | | | | | | 485 | | | $ | 495,685 | |
| | | |
Oxbow Carbon, LLC, Term Loan, 5.00%, (1 mo. USD LIBOR + 4.25%, Floor 0.75%), 10/13/25 | | | | | | | 333 | | | | 334,163 | |
| | | |
Rain Carbon GmbH, Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), 1/16/25 | | | EUR | | | | 1,025 | | | | 1,179,888 | |
| | | |
| | | | | | | | | | $ | 2,009,736 | |
|
Oil and Gas — 1.0% | |
| | | |
Ameriforge Group, Inc.: | | | | | | | | | |
| | | |
Term Loan, 12.561%, (1 mo. USD LIBOR + 13.00%, Floor 1.00%), 12/31/23(24) | | | | | | | 101 | | | $ | 53,435 | |
| | | |
Term Loan, 14.00%, (3 mo. USD LIBOR + 13.00%, Floor 1.00%), 9.00% cash, 5.00% PIK, 12/31/23 | | | | | | | 798 | | | | 423,037 | |
| | | |
Apergy Corporation: | | | | | | | | | |
| | | |
Term Loan, 2.625%, (1 mo. USD LIBOR + 2.50%), 5/9/25 | | | | | | | 127 | | | | 126,084 | |
| | | |
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 6/3/27 | | | | | | | 211 | | | | 215,024 | |
| | | |
Buckeye Partners L.P., Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 11/1/26 | | | | | | | 2,734 | | | | 2,721,145 | |
| | | |
Centurion Pipeline Company, LLC: | | | | | | | | | |
| | | |
Term Loan, 3.334%, (1 mo. USD LIBOR + 3.25%), 9/29/25 | | | | | | | 267 | | | | 263,426 | |
| | | |
Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 9/28/25 | | | | | | | 223 | | | | 219,405 | |
| | | | |
| | 36 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Oil and Gas (continued) | |
| | | |
CITGO Holding, Inc., Term Loan, 8.00%, (6 mo. USD LIBOR + 7.00%, Floor 1.00%), 8/1/23 | | | | | | | 245 | | | $ | 242,091 | |
| | | |
CITGO Petroleum Corporation, Term Loan, 7.25%, (6 mo. USD LIBOR + 6.25%, Floor 1.00%), 3/28/24 | | | | | | | 2,267 | | | | 2,275,005 | |
| | | |
Delek US Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 3/31/25 | | | | | | | 1,365 | | | | 1,327,304 | |
| | | |
Term Loan, 6.50%, (1 mo. USD LIBOR + 5.50%, Floor 1.00%), 3/31/25 | | | | | | | 566 | | | | 570,859 | |
| | | |
Lealand Finance Company B.V., Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 1.084% cash, 3.00% PIK, 6/30/25 | | | | | | | 219 | | | | 97,594 | |
| | | |
Matador Bidco S.a.r.l., Term Loan, 4.834%, (1 mo. USD LIBOR + 4.75%), 10/15/26 | | | | | | | 1,724 | | | | 1,729,137 | |
| | | |
Oryx Midstream Services Permian Basin, LLC, Term Loan, 10/5/28(25) | | | | | | | 825 | | | | 820,875 | |
| | | |
Prairie ECI Acquiror L.P., Term Loan, 4.834%, (1 mo. USD LIBOR + 4.75%), 3/11/26 | | | | | | | 554 | | | | 536,019 | |
| | | |
PSC Industrial Holdings Corp., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 10/11/24 | | | | | | | 770 | | | | 770,301 | |
| | | |
QuarterNorth Energy Holding, Inc., Term Loan - Second Lien, 9.00%, (3 mo. USD LIBOR + 8.00%, Floor 1.00%), 8/27/26 | | | | | | | 782 | | | | 786,697 | |
| | | |
RDV Resources Properties, LLC, Term Loan, 9.50%, (1 mo. USD LIBOR + 8.50%, Floor 1.00%), 3/29/24 | | | | | | | 435 | | | | 293,925 | |
| | | |
Sunrise Oil & Gas Properties, LLC: | | | | | | | | | |
| | | |
Term Loan, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), 1/17/23 | | | | | | | 100 | | | | 98,868 | |
| | | |
Term Loan - Second Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), 1/17/23 | | | | | | | 107 | | | | 105,319 | |
| | | |
Term Loan - Third Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), 1/17/23 | | | | | | | 124 | | | | 121,673 | |
| | | |
UGI Energy Services, LLC, Term Loan, 3.834%, (1 mo. USD LIBOR + 3.75%), 8/13/26 | | | | | | | 1,051 | | | | 1,055,081 | |
| | | |
| | | | | | | | | | $ | 14,852,304 | |
|
Publishing — 0.5% | |
| | | |
Adevinta ASA: | | | | | | | | | |
| | | |
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), 6/26/28 | | | EUR | | | | 2,000 | | | $ | 2,318,630 | |
| | | |
Term Loan, 3.75%, (3 mo. USD LIBOR + 3.00%, Floor 0.75%), 6/26/28 | | | | | | | 299 | | | | 299,905 | |
| | | |
Alchemy Copyrights, LLC, Term Loan, 3.50%, (1 mo. USD LIBOR + 3.00%, Floor 0.50%), 3/10/28 | | | | | | | 470 | | | | 471,435 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Publishing (continued) | |
| | | |
Ascend Learning, LLC: | | | | | | | | | |
| | | |
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), 7/12/24 | | | | | | | 1,176 | | | $ | 1,177,287 | |
| | | |
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 7/12/24 | | | | | | | 371 | | | | 372,224 | |
| | | |
Axel Springer S.E., Term Loan, 5.00%, (3 mo. EURIBOR + 5.00%), 12/18/26 | | | EUR | | | | 1,000 | | | | 1,161,607 | |
| | | |
Getty Images, Inc., Term Loan, 4.625%, (1 mo. USD LIBOR + 4.50%), 2/19/26 | | | | | | | 1,058 | | | | 1,059,438 | |
| | | |
Tweddle Group, Inc., Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), 9/17/23 | | | | | | | 479 | | | | 472,330 | |
| | | |
| | | | | | | | | | $ | 7,332,856 | |
|
Radio and Television — 1.0% | |
| | | |
Cumulus Media New Holdings, Inc., Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 3/31/26 | | | | | | | 322 | | | $ | 322,485 | |
| | | |
Diamond Sports Group, LLC, Term Loan, 3.34%, (1 mo. USD LIBOR + 3.25%), 8/24/26 | | | | | | | 3,038 | | | | 1,907,612 | |
| | | |
Entercom Media Corp., Term Loan, 2.585%, (1 mo. USD LIBOR + 2.50%), 11/18/24 | | | | | | | 897 | | | | 886,327 | |
| | | |
Entravision Communications Corporation, Term Loan, 2.834%, (1 mo. USD LIBOR + 2.75%), 11/29/24 | | | | | | | 834 | | | | 826,602 | |
| | | |
Gray Television, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.336%, (1 mo. USD LIBOR + 2.25%), 2/7/24 | | | | | | | 278 | | | | 278,049 | |
| | | |
Term Loan, 2.586%, (1 mo. USD LIBOR + 2.50%), 1/2/26 | | | | | | | 637 | | | | 635,838 | |
| | | |
Hubbard Radio, LLC, Term Loan, 5.25%, (1 mo. USD LIBOR + 4.25%, Floor 1.00%), 3/28/25 | | | | | | | 755 | | | | 755,566 | |
| | | |
iHeartCommunications, Inc., Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 5/1/26 | | | | | | | 444 | | | | 440,915 | |
| | | |
Nexstar Broadcasting, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 1/17/24 | | | | | | | 113 | | | | 113,501 | |
| | | |
Term Loan, 2.586%, (1 mo. USD LIBOR + 2.50%), 9/18/26 | | | | | | | 453 | | | | 453,063 | |
| | | |
Sinclair Television Group, Inc.: | | | | | | | | | |
| | | |
Term Loan, 2.59%, (1 mo. USD LIBOR + 2.50%), 9/30/26 | | | | | | | 637 | | | | 627,126 | |
| | | |
Term Loan, 3.09%, (1 mo. USD LIBOR + 3.00%), 4/1/28 | | | | | | | 412 | | | | 408,210 | |
| | | |
Terrier Media Buyer, Inc., Term Loan, 3.584%, (1 mo. USD LIBOR + 3.50%), 12/17/26 | | | | | | | 1,842 | | | | 1,840,664 | |
| | | |
Univision Communications, Inc., Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), 3/15/26 | | | | | | | 6,907 | | | | 6,905,632 | |
| | | |
| | | | | | | | | | $ | 16,401,590 | |
| | | | |
| | 37 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Retailers (Except Food and Drug) — 0.6% | |
| | | |
BJ’s Wholesale Club, Inc., Term Loan, 2.083%, (1 mo. USD LIBOR + 2.00%), 2/3/24 | | | | | | | 487 | | | $ | 487,514 | |
| | | |
CNT Holdings I Corp., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.75%, Floor 0.75%), 11/8/27 | | | | | | | 697 | | | | 697,806 | |
| | | |
David’s Bridal, Inc.: | | | | | | | | | |
| | | |
Term Loan, 7.00%, (3 mo. USD LIBOR + 6.00%, Floor 1.00%), 6/30/23 | | | | | | | 634 | | | | 588,349 | |
| | | |
Term Loan, 11.00%, (3 mo. USD LIBOR + 10.00%, Floor 1.00%), 6.00% cash, 5.00% PIK, 6/23/23 | | | | | | | 536 | | | | 534,185 | |
| | | |
Great Outdoors Group, LLC, Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), 3/6/28 | | | | | | | 2,432 | | | | 2,446,570 | |
| | | |
Harbor Freight Tools USA, Inc., Term Loan, 3.25%, (1 mo. USD LIBOR + 2.75%, Floor 0.50%), 10/19/27 | | | | | | | 1,390 | | | | 1,390,527 | |
| | | |
Hoya Midco, LLC, Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), 6/30/24 | | | | | �� | | 2,061 | | | | 2,054,927 | |
| | | |
PetSmart, Inc., Term Loan, 4.50%, (6 mo. USD LIBOR + 3.75%, Floor 0.75%), 2/11/28 | | | | | | | 1,325 | | | | 1,329,969 | |
| | | |
Phillips Feed Service, Inc., Term Loan, 8.00%, (3 mo. USD LIBOR + 7.00%, Floor 1.00%), 11/13/24(14) | | | | | | | 108 | | | | 86,330 | |
| | | |
Pier 1 Imports (U.S.), Inc., Term Loan, 0.00%, 4/30/22(14)(21) | | | | | | | 17 | | | | 13,909 | |
| | | |
| | | | | | | | | | $ | 9,630,086 | |
|
Steel — 0.1% | |
| | | |
Neenah Foundry Company, Term Loan, 10.00%, (1 mo. USD LIBOR + 9.00%, Floor 1.00%), 12/13/22 | | | | | | | 301 | | | $ | 278,812 | |
| | | |
Phoenix Services International, LLC, Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), 3/1/25 | | | | | | | 869 | | | | 863,072 | |
| | | |
Zekelman Industries, Inc., Term Loan, 2.083%, (1 mo. USD LIBOR + 2.00%), 1/24/27 | | | | | | | 1,116 | | | | 1,106,390 | |
| | | |
| | | | | | | | | | $ | 2,248,274 | |
|
Surface Transport — 0.2% | |
| | | |
Hertz Corporation (The): | | | | | | | | | |
| | | |
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 6/30/28 | | | | | | | 198 | | | $ | 198,576 | |
| | | |
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.50%, Floor 0.50%), 6/30/28 | | | | | | | 1,049 | | | | 1,051,036 | |
| | | |
Kenan Advantage Group, Inc., Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), 3/24/26 | | | | | | | 2,234 | | | | 2,235,773 | |
| | | |
| | | | | | | | | | $ | 3,485,385 | |
| | | | | | | | | | | | |
Borrower/Description | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Telecommunications — 1.9% | |
| | | |
Avaya, Inc., Term Loan, 4.084%, (1 mo. USD LIBOR + 4.00%), 12/15/27 | | | | | | | 200 | | | $ | 200,499 | |
| | | |
CenturyLink, Inc., Term Loan, 2.334%, (1 mo. USD LIBOR + 2.25%), 3/15/27 | | | | | | | 7,271 | | | | 7,199,816 | |
| | | |
Cyxtera DC Holdings, Inc., Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), 5/1/24 | | | | | | | 910 | | | | 904,224 | |
| | | |
Digicel International Finance Limited, Term Loan, 3.43%, (6 mo. USD LIBOR + 3.25%), 5/28/24 | | | | | | | 4,876 | | | | 4,719,110 | |
| | | |
eircom Finco S.a.r.l., Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), 5/15/26 | | | EUR | | | | 1,786 | | | | 2,066,837 | |
| | | |
GEE Holdings 2, LLC: | | | | | | | | | |
| | | |
Term Loan, 9.00%, (3 mo. USD LIBOR + 8.00%, Floor 1.00%), 3/24/25 | | | | | | | 329 | | | | 329,636 | |
| | | |
Term Loan - Second Lien, 9.25%, (3 mo. USD LIBOR + 8.25%, Floor 1.00%), 2.50% cash, 6.75% PIK, 3/23/26 | | | | | | | 655 | | | | 599,725 | |
| | | |
Intelsat Jackson Holdings S.A.: | | | | | | | | | |
| | | |
DIP Loan, 5.392%, (3 mo. USD LIBOR + 4.75%, Floor 1.00%), 10/13/22(24) | | | | | | | 625 | | | | 628,125 | |
| | | |
Term Loan, 8.75%, (USD Prime + 5.50%), 1/2/24 | | | | | | | 1,500 | | | | 1,530,000 | |
| | | |
IPC Corp., Term Loan, 8.75%, 8/6/21(21)(27) | | | | | | | 1,088 | | | | 1,079,678 | |
| | | |
Onvoy, LLC, Term Loan, 5.50%, (3 mo. USD LIBOR + 4.50%, Floor 1.00%), 2/10/24 | | | | | | | 773 | | | | 773,557 | |
| | | |
Plantronics, Inc., Term Loan, 2.585%, (1 mo. USD LIBOR + 2.50%), 7/2/25 | | | | | | | 1,187 | | | | 1,161,462 | |
| | | |
Syniverse Holdings, Inc., Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 3/9/23 | | | | | | | 1,037 | | | | 1,038,633 | |
| | | |
Zayo Group Holdings, Inc.: | | | | | | | | | |
| | | |
Term Loan, 3.084%, (1 mo. USD LIBOR + 3.00%), 3/9/27 | | | | | | | 2,171 | | | | 2,154,698 | |
| | | |
Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), 3/9/27 | | | EUR | | | | 985 | | | | 1,126,998 | |
| | | |
Ziggo Financing Partnership, Term Loan, 2.584%, (1 mo. USD LIBOR + 2.50%), 4/30/28 | | | | | | | 4,150 | | | | 4,121,469 | |
| | | |
| | | | | | | | | | $ | 29,634,467 | |
|
Utilities — 0.3% | |
| | | |
Calpine Construction Finance Company L.P., Term Loan, 2.084%, (1 mo. USD LIBOR + 2.00%), 1/15/25 | | | | | | | 2,701 | | | $ | 2,674,249 | |
| | | |
Calpine Corporation, Term Loan, 2.59%, (1 mo. USD LIBOR + 2.50%), 12/16/27 | | | | | | | 2,017 | | | | 2,014,297 | |
| | | |
Longview Power, LLC, Term Loan, 11.50%, (3 mo. USD LIBOR + 10.00%, Floor 1.50%), 7/30/25 | | | | | | | 42 | | | | 43,127 | |
| | | |
| | | | | | | | | | $ | 4,731,673 | |
| |
Total Senior Floating-Rate Loans (identified cost $762,729,819) | | | $ | 758,708,261 | |
| | | | |
| | 38 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Sovereign Government Bonds — 4.3% | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Argentina — 0.1% | |
| | | |
Provincia de Buenos Aires/Government Bonds, 3.90% to 9/1/22, 9/1/37(1)(22) | | | | | | | 1,076 | | | $ | 483,329 | |
| | | |
Republic of Argentina: | | | | | | | | | |
| | | |
1.125% to 7/9/22, 7/9/35(22) | | | | | | | 1,711 | | | | 563,742 | |
| | | |
2.50% to 7/9/22, 7/9/41(22) | | | | | | | 1,692 | | | | 624,648 | |
| | | |
Total Argentina | | | | | | | | | | $ | 1,671,719 | |
|
Bahrain — 0.2% | |
| | | |
Kingdom of Bahrain: | | | | | | | | | |
| | | |
6.75%, 9/20/29(17) | | | | | | | 1,040 | | | $ | 1,119,217 | |
| | | |
7.375%, 5/14/30(17) | | | | | | | 1,324 | | | | 1,471,215 | |
| | | |
Total Bahrain | | | | | | | | | | $ | 2,590,432 | |
|
Barbados — 0.2% | |
| | | |
Government of Barbados, 6.50%, 10/1/29(1) | | | | | | | 3,080 | | | $ | 3,110,497 | |
| | | |
Total Barbados | | | | | | | | | | $ | 3,110,497 | |
|
Belarus — 0.2% | |
| | | |
Republic of Belarus: | | | | | | | | | |
| | | |
5.875%, 2/24/26(17) | | | | | | | 440 | | | $ | 413,983 | |
| | | |
6.875%, 2/28/23(17) | | | | | | | 2,615 | | | | 2,664,502 | |
| | | |
Total Belarus | | | | | | | | | | $ | 3,078,485 | |
|
Benin — 0.2% | |
| | | |
Benin Government International Bond, 6.875%, 1/19/52(17) | | | EUR | | | | 2,170 | | | $ | 2,599,097 | |
| | | |
Total Benin | | | | | | | | | | $ | 2,599,097 | |
|
Brazil — 0.1% | |
| | | |
Federative Republic of Brazil: | | | | | | | | | |
| | | |
3.875%, 6/12/30 | | | | | | | 371 | | | $ | 360,315 | |
| | | |
4.625%, 1/13/28 | | | | | | | 1,850 | | | | 1,948,763 | |
| | | |
Total Brazil | | | | | | | | | | $ | 2,309,078 | |
|
Croatia — 0.1% | |
| | | |
Croatia Government International Bond, 1.75%, 3/4/41(17) | | | EUR | | | | 1,801 | | | $ | 2,140,460 | |
| | | |
Total Croatia | | | | | | | | | | $ | 2,140,460 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Dominican Republic — 0.2% | |
| | | |
Dominican Republic: | | | | | | | | | |
| | | |
4.50%, 1/30/30(17) | | | | | | | 734 | | | $ | 748,687 | |
| | | |
5.875%, 1/30/60(17) | | | | | | | 979 | | | | 960,409 | |
| | | |
6.85%, 1/27/45(17) | | | | | | | 436 | | | | 487,779 | |
| | | |
7.45%, 4/30/44(17) | | | | | | | 868 | | | | 1,037,486 | |
| | | |
Total Dominican Republic | | | | | | | | | | $ | 3,234,361 | |
|
Ecuador — 0.1% | |
| | | |
Republic of Ecuador: | | | | | | | | | |
| | | |
0.50% to 7/31/22, 7/31/40(17)(22) | | | | | | | 2,958 | | | $ | 1,431,001 | |
| | | |
5.00% to 7/31/22, 7/31/30(17)(22) | | | | | | | 459 | | | | 385,480 | |
| | | |
Total Ecuador | | | | | | | | | | $ | 1,816,481 | |
|
Egypt — 0.6% | |
| | | |
Arab Republic of Egypt: | | | | | | | | | |
| | | |
8.15%, 11/20/59(17) | | | | | | | 4,807 | | | $ | 4,449,691 | |
| | | |
8.50%, 1/31/47(17) | | | | | | | 3,343 | | | | 3,238,465 | |
| | | |
8.70%, 3/1/49(17) | | | | | | | 1,463 | | | | 1,424,937 | |
| | | |
8.875%, 5/29/50(17) | | | | | | | 355 | | | | 352,643 | |
| | | |
Total Egypt | | | | | | | | | | $ | 9,465,736 | |
|
El Salvador — 0.1% | |
| | | |
Republic of El Salvador, 7.75%, 1/24/23(17) | | | | | | | 980 | | | $ | 829,335 | |
| | | |
Total El Salvador | | | | | | | | | | $ | 829,335 | |
|
Guatemala — 0.0%(11) | |
| | | |
Republic of Guatemala, 4.65%, 10/7/41(3)(17) | | | | | | | 760 | | | $ | 740,681 | |
| | | |
Total Guatemala | | | | | | | | | | $ | 740,681 | |
|
Ivory Coast — 0.3% | |
|
Ivory Coast Government International Bond: | |
| | | |
4.875%, 1/30/32(17) | | | EUR | | | | 633 | | | $ | 716,080 | |
| | | |
5.25%, 3/22/30(17) | | | EUR | | | | 709 | | | | 854,118 | |
| | | |
6.625%, 3/22/48(17) | | | EUR | | | | 2,701 | | | | 3,155,588 | |
| | | |
6.875%, 10/17/40(17) | | | EUR | | | | 402 | | | | 498,860 | |
| | | |
Total Ivory Coast | | | | | | | | | | $ | 5,224,646 | |
|
Lebanon — 0.0%(11) | |
| | | |
Lebanese Republic: | | | | | | | | | |
| | | |
6.25%, 11/4/24(17)(21) | | | | | | | 16 | | | $ | 2,702 | |
| | | |
6.25%, 6/12/25(17)(21) | | | | | | | 287 | | | | 48,491 | |
| | | |
6.40%, 5/26/23(21) | | | | | | | 13 | | | | 2,190 | |
| | | |
6.65%, 4/22/24(17)(21) | | | | | | | 567 | | | | 95,578 | |
| | | | |
| | 39 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Lebanon (continued) | |
| | | |
Lebanese Republic: (continued) | | | | | | | | | |
| | | |
6.65%, 11/3/28(17)(21) | | | | | | | 207 | | | $ | 34,732 | |
| | | |
6.75%, 11/29/27(17)(21) | | | | | | | 4 | | | | 676 | |
| | | |
6.85%, 5/25/29(21) | | | | | | | 5 | | | | 831 | |
| | | |
7.00%, 3/20/28(17)(21) | | | | | | | 466 | | | | 76,482 | |
| | | |
7.05%, 11/2/35(17)(21) | | | | | | | 86 | | | | 14,589 | |
| | | |
7.15%, 11/20/31(17)(21) | | | | | | | 451 | | | | 74,275 | |
| | | |
8.20%, 5/17/33(21) | | | | | | | 156 | | | | 25,912 | |
| | | |
8.25%, 5/17/34(21) | | | | | | | 129 | | | | 21,328 | |
| | | |
Total Lebanon | | | | | | | | | | $ | 397,786 | |
|
Pakistan — 0.1% | |
| | | |
Islamic Republic of Pakistan: | | | | | | | | | |
| | | |
7.375%, 4/8/31(17) | | | | | | | 315 | | | $ | 314,987 | |
| | | |
8.875%, 4/8/51(17) | | | | | | | 782 | | | | 789,234 | |
| | | |
Total Pakistan | | | | | | | | | | $ | 1,104,221 | |
|
Paraguay — 0.2% | |
| | | |
Republic of Paraguay, 4.95%, 4/28/31(17) | | | | | | | 2,507 | | | $ | 2,837,297 | |
| | | |
Total Paraguay | | | | | | | | | | $ | 2,837,297 | |
|
Romania — 0.3% | |
| | | |
Romania Government International Bond: | | | | | | | | | |
| | | |
2.625%, 12/2/40(17) | | | EUR | | | | 91 | | | $ | 98,429 | |
| | | |
2.75%, 4/14/41(17) | | | EUR | | | | 474 | | | | 511,384 | |
| | | |
3.375%, 1/28/50(17) | | | EUR | | | | 899 | | | | 1,027,059 | |
| | | |
3.624%, 5/26/30(17) | | | EUR | | | | 294 | | | | 383,982 | |
| | | |
4.625%, 4/3/49(17) | | | EUR | | | | 2,349 | | | | 3,190,787 | |
| | | |
Total Romania | | | | | | | | | | $ | 5,211,641 | |
|
Seychelles — 0.1% | |
| | | |
Republic of Seychelles, 8.00%, 1/1/26(17) | | | | | | | 1,008 | | | $ | 1,016,185 | |
| | | |
Total Seychelles | | | | | | | | | | $ | 1,016,185 | |
|
Suriname — 0.2% | |
| | | |
Republic of Suriname, 9.25%, 10/26/26(17) | | | | | | | 4,769 | | | $ | 3,279,927 | |
| | | |
Total Suriname | | | | | | | | | | $ | 3,279,927 | |
|
Tunisia — 0.0%(11) | |
| | | |
Banque Centrale de Tunisie International Bond, 6.75%, 10/31/23(17) | | | EUR | | | | 620 | | | $ | 627,687 | |
| | | |
Total Tunisia | | | | | | | | | | $ | 627,687 | |
| | | | | | | | | | | | |
Security | | | | | Principal Amount* (000’s omitted) | | | Value | |
|
Turkey — 0.1% | |
| | | |
Republic of Turkey: | | | | | | | | | |
| | | |
6.75%, 5/30/40 | | | | | | | 630 | | | $ | 596,956 | |
| | | |
7.625%, 4/26/29 | | | | | | | 500 | | | | 534,501 | |
| | | |
Total Turkey | | | | | | | | | | $ | 1,131,457 | |
|
Ukraine — 0.7% | |
| | | |
Ukraine Government International Bond: | | | | | | | | | |
| | | |
1.258%, GDP-Linked, 5/31/40(17)(28) | | | | | | | 1,697 | | | $ | 1,856,963 | |
| | | |
9.75%, 11/1/28(17) | | | | | | | 7,659 | | | | 9,005,031 | |
| | | |
Total Ukraine | | | | | | | | | | $ | 10,861,994 | |
|
United Arab Emirates — 0.2% | |
| | | |
Finance Department Government of Sharjah, 4.375%, 3/10/51(17) | | | | | | | 2,625 | | | $ | 2,480,769 | |
| | | |
Total United Arab Emirates | | | | | | | | | | $ | 2,480,769 | |
| |
Total Sovereign Government Bonds (identified cost $67,955,799) | | | $ | 67,759,972 | |
|
Sovereign Loans — 0.8% | |
Borrower | | | | | Principal Amount (000’s omitted) | | | Value | |
|
Kenya — 0.2% | |
| | | |
Government of Kenya, Term Loan, 6.616%, (6 mo. USD LIBOR + 6.45%), 6/29/25(2) | | | | | | $ | 3,600 | | | $ | 3,644,392 | |
| | | |
Total Kenya | | | | | | | | | | $ | 3,644,392 | |
|
Nigeria — 0.2% | |
| | | |
Bank of Industry Limited, Term Loan, 6.116%, (3 mo. USD LIBOR + 6.00%), 12/14/23(2)(29) | | | | | | $ | 2,260 | | | $ | 2,274,111 | |
| | | |
Total Nigeria | | | | | | | | | | $ | 2,274,111 | |
|
Tanzania — 0.4% | |
| | | |
Government of the United Republic of Tanzania: | | | | | | | | | |
| | | |
Term Loan, 5.364%, (6 mo. USD LIBOR + 5.20%), 6/23/22(2) | | | | | | $ | 1,021 | | | $ | 1,046,337 | |
| | | |
Term Loan, 5.456%, (6 mo. USD LIBOR + 5.20%), 6/23/22(2) | | | | | | | 971 | | | | 990,285 | |
| | | |
Term Loan, 6.446%, (6 mo. USD LIBOR + 6.30%), 4/28/31(2) | | | | | | | 4,410 | | | | 4,483,122 | |
| | | |
Total Tanzania | | | | | | | | | | $ | 6,519,744 | |
| |
Total Sovereign Loans (identified cost $12,250,507) | | | $ | 12,438,247 | |
| | | | |
| | 40 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | |
Warrants — 0.1% | |
Security | | | | | Shares | | | Value | |
|
Entertainment — 0.0%(11) | |
| | | |
Cineworld Group PLC, Exp. 11/23/25(12)(13) | | | | | | | 78,565 | | | $ | 39,369 | |
| | | |
| | | | | | | | | | $ | 39,369 | |
|
Health Care — 0.0%(11) | |
| | | |
THAIHOT Investment Company US Limited, Exp. 10/13/27(12)(13)(14) | | | | | | | 24 | | | $ | 24,192 | |
| | | |
THAIHOT Investment Company US Limited, Exp. 10/13/27(12)(13)(14) | | | | | | | 175 | | | | 54,337 | |
| | | |
THAIHOT Investment Company US Limited, Exp. 10/13/27 (Contingent Warrants)(12)(13)(14) | | | | | | | 11,110 | | | | 0 | |
| | | |
| | | | | | | | | | $ | 78,529 | |
|
Oil and Gas — 0.1% | |
| | | |
QuarterNorth Energy, Inc., Exp. 8/27/28(12)(13) | | | | | | | 8,288 | | | $ | 872,312 | |
| | | |
| | | | | | | | | | $ | 872,312 | |
|
Retailers (Except Food and Drug) — 0.0% | |
| | | |
David’s Bridal, LLC, Exp. 11/26/22(12)(13)(14) | | | | | | | 7,886 | | | $ | 0 | |
| | | |
| | | | | | | | | | $ | 0 | |
| | |
Total Warrants (identified cost $0) | | | | | | | $ | 990,210 | |
|
Miscellaneous — 0.0%(11) | |
Security | | | | | Shares/ Principal Amount | | | Value | |
|
Cable and Satellite Television — 0.0% | |
| | | |
ACC Claims Holdings, LLC(13)(14) | | | | | | | 2,257,600 | | | $ | 0 | |
| | | |
| | | | | | | | | | $ | 0 | |
|
Surface Transport — 0.0%(11) | |
| | |
Hertz Corp. Escrow Certificates(12) | | | $ | 364,000 | | | $ | 23,660 | |
| | |
| | | | | | | $ | 23,660 | |
| | |
Total Miscellaneous (identified cost $0) | | | | | | | $ | 23,660 | |
| | | | | | | | | | |
Short-Term Investments — 2.4% | |
|
Affiliated Fund — 2.4% | |
Description | | | | Units | | | Value | |
| | | |
Eaton Vance Cash Reserves Fund, LLC, 0.05%(30) | | | | | 36,618,433 | | | $ | 36,618,433 | |
| | |
Total Affiliated Fund (identified cost $36,618,433) | | | | | | $ | 36,618,433 | |
|
U.S. Treasury Obligations — 0.0%(11) | |
Security | | | | Principal Amount (000’s omitted) | | | Value | |
| | | |
U.S. Treasury Bill, 0.00%, 11/4/21(31) | | | | $ | 265 | | | $ | 264,982 | |
| | | |
U.S. Treasury Bill, 0.00%, 12/9/21 | | | | | 235 | | | | 234,990 | |
| |
Total U.S. Treasury Obligations (identified cost $499,969) | | | $ | 499,972 | |
| |
Total Short-Term Investments (identified cost $37,118,402) | | | $ | 37,118,405 | |
| |
Total Investments — 154.5% (identified cost $2,420,849,393) | | | $ | 2,410,552,217 | |
| |
Less Unfunded Loan Commitments — (0.1)% | | | $ | (977,478 | ) |
| |
Net Investments — 154.4% (identified cost $2,419,871,915) | | | $ | 2,409,574,739 | |
| |
Other Assets, Less Liabilities — (40.6)% | | | $ | (633,075,658 | ) |
| |
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (13.8)% | | | $ | (216,002,636 | ) |
| |
Net Assets Applicable to Common Shares — 100.0% | | | $ | 1,560,496,445 | |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.
| * | In U.S. dollars unless otherwise indicated. |
| (1) | 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 September 30, 2021, the aggregate value of these securities is $674,930,831 or 43.3% of the Fund’s net assets applicable to common shares. |
| (2) | Variable rate security. The stated interest rate represents the rate in effect at September 30, 2021. |
| (3) | When-issued security. For a variable rate security, interest rate will be determined after September 30, 2021. |
| (4) | Inverse floating-rate security whose coupon varies inversely with changes in the interest rate index. The stated interest rate represents the coupon rate in effect at September 30, 2021. |
| | | | |
| | 41 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| (5) | Interest only security that entitles the holder to receive only interest payments on the underlying mortgages. Principal amount shown is the notional amount of the underlying mortgages on which coupon interest is calculated. |
| (6) | Principal only security that entitles the holder to receive only principal payments on the underlying mortgages. |
| (7) | Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at September 30, 2021. |
| (8) | Represents an investment in an issuer that may be deemed to be an affiliate effective March 1, 2021 (see Note 10). |
| (9) | Adjustable rate mortgage security whose interest rate generally adjusts monthly based on a weighted average of interest rates on the underlying mortgages. The coupon rate may not reflect the applicable index value as interest rates on the underlying mortgages may adjust on various dates and at various intervals and may be subject to lifetime ceilings and lifetime floors and lookback periods. Rate shown is the coupon rate at September 30, 2021. |
(10) | TBA (To Be Announced) securities are purchased on a forward commitment basis with an approximate principal amount and maturity date. The actual principal amount and maturity date are determined upon settlement. |
(11) | Amount is less than 0.05%. |
(12) | Non-income producing security. |
(13) | Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale. |
(14) | For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 11). |
(15) | Restricted security (see Note 7). |
(16) | Shares have not been registered under the Securities Act of 1933, as amended, or any other applicable state securities laws and may only be sold in certain transactions in reliance on an exemption from registration. |
(17) | 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 September 30, 2021, the aggregate value of these securities is $102,277,289 or 6.6% of the Fund’s net assets applicable to common shares. |
(18) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
(19) | Security converts to variable rate after the indicated fixed-rate coupon period. |
(20) | Perpetual security with no stated maturity date but may be subject to calls by the issuer. |
(21) | Issuer is in default with respect to interest and/or principal payments. For a variable rate security, interest rate has been adjusted to reflect non-accrual status. |
(22) | Step coupon security. Interest rate represents the rate in effect at September 30, 2021. |
(23) | Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. Senior Loans typically have rates of interest which are redetermined periodically by reference to |
| a base lending rate, plus a spread. These base lending rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”). Base lending rates may be subject to a floor, or minimum rate. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold. |
(24) | Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At September 30, 2021, the total value of unfunded loan commitments is $974,782. See Note 1F for description. |
(25) | This Senior Loan will settle after September 30, 2021, at which time the interest rate will be determined. |
(26) | The stated interest rate represents the weighted average interest rate at September 30, 2021 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either weekly, monthly or quarterly by reference to the indicated base lending rate and spread and the reset period. |
(28) | Amounts payable in respect of the security are contingent upon and determined by reference to Ukraine’s GDP and Real GDP Growth Rate. Principal amount represents the notional amount used to calculate payments due to the security holder and does not represent an entitlement for payment. |
(29) | Loan is subject to scheduled mandatory prepayments. Maturity date shown reflects the final maturity date. |
(30) | Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of September 30, 2021. |
(31) | Security (or a portion thereof) has been pledged to cover margin requirements on open derivative contracts. |
| | | | |
| | 42 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | | | | | |
Centrally Cleared Forward Foreign Currency Exchange Contracts | |
| | | |
Currency Purchased | | | Currency Sold | | | Settlement Date | | Value/Unrealized Appreciation (Depreciation) | |
| | | | | |
USD | | | 7,313,996 | | | EUR | | | 6,178,744 | | | 12/15/21 | | $ | 146,255 | |
| | | | | |
USD | | | 5,301,163 | | | EUR | | | 4,478,336 | | | 12/15/21 | | | 106,005 | |
| | | | | |
USD | | | 2,650,555 | | | EUR | | | 2,239,146 | | | 12/15/21 | | | 53,002 | |
| | | | | |
USD | | | 2,595,304 | | | EUR | | | 2,192,471 | | | 12/15/21 | | | 51,897 | |
| | | | | |
USD | | | 2,135,084 | | | EUR | | | 1,803,684 | | | 12/15/21 | | | 42,694 | |
| | | | | |
USD | | | 3,530 | | | EUR | | | 2,982 | | | 12/15/21 | | | 71 | |
| |
| | $ | 399,924 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Forward Foreign Currency Exchange Contracts | |
| | | | | |
Currency Purchased | | | Currency Sold | | | Counterparty | | Settlement Date | | | Unrealized Appreciation | | | Unrealized (Depreciation) | |
| | | | | | | |
USD | | | 501,758 | | | EUR | | | 432,375 | | | State Street Bank and Trust Company | | | 10/1/21 | | | $ | 916 | | | $ | — | |
| | | | | | | |
USD | | | 34,761 | | | EUR | | | 29,981 | | | State Street Bank and Trust Company | | | 10/1/21 | | | | 32 | | | | — | |
| | | | | | | |
USD | | | 123,561 | | | EUR | | | 106,818 | | | Bank of America, N.A. | | | 10/4/21 | | | | — | | | | (171 | ) |
| | | | | | | |
USD | | | 40,521,372 | | | EUR | | | 34,305,944 | | | Standard Chartered Bank | | | 10/4/21 | | | | 783,084 | | | | — | |
| | | | | | | |
EUR | | | 102,000 | | | USD | | | 119,784 | | | State Street Bank and Trust Company | | | 10/7/21 | | | | — | | | | (1,626 | ) |
| | | | | | | |
EUR | | | 106,818 | | | USD | | | 123,570 | | | Bank of America, N.A. | | | 10/8/21 | | | | 171 | | | | — | |
| | | | | | | |
EUR | | | 246,210 | | | USD | | | 291,290 | | | Goldman Sachs International | | | 10/8/21 | | | | — | | | | (6,072 | ) |
| | | | | | | |
EUR | | | 836,465 | | | USD | | | 979,213 | | | Goldman Sachs International | | | 10/8/21 | | | | — | | | | (10,224 | ) |
| | | | | | | |
EUR | | | 1,032,000 | | | USD | | | 1,218,572 | | | JPMorgan Chase Bank, N.A. | | | 10/8/21 | | | | — | | | | (23,068 | ) |
| | | | | | | |
EUR | | | 29,981 | | | USD | | | 34,765 | | | State Street Bank and Trust Company | | | 10/8/21 | | | | — | | | | (34 | ) |
| | | | | | | |
EUR | | | 432,375 | | | USD | | | 501,822 | | | State Street Bank and Trust Company | | | 10/8/21 | | | | — | | | | (945 | ) |
| | | | | | | |
EUR | | | 88,909 | | | USD | | | 102,890 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 147 | | | | — | |
| | | | | | | |
EUR | | | 52,043 | | | USD | | | 60,355 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | — | | | | (42 | ) |
| | | | | | | |
EUR | | | 55,515 | | | USD | | | 65,221 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | — | | | | (886 | ) |
| | | | | | | |
EUR | | | 67,583 | | | USD | | | 80,126 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | — | | | | (1,804 | ) |
| | | | | | | |
GBP | | | 146,725 | | | USD | | | 203,827 | | | Bank of America, N.A. | | | 10/29/21 | | | | — | | | | (6,124 | ) |
| | | | | | | |
GBP | | | 7,429 | | | USD | | | 10,247 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | — | | | | (237 | ) |
| | | | | | | |
GBP | | | 307,793 | | | USD | | | 424,646 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | — | | | | (9,913 | ) |
| | | | | | | |
USD | | | 570,769 | | | CAD | | | 717,000 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 4,709 | | | | — | |
| | | | | | | |
USD | | | 37,017,333 | | | EUR | | | 31,185,937 | | | JPMorgan Chase Bank, N.A. | | | 10/29/21 | | | | 876,227 | | | | — | |
| | | | | | | |
USD | | | 28,144,114 | | | EUR | | | 23,779,304 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 586,490 | | | | — | |
| | | | | | | |
USD | | | 3,811,006 | | | EUR | | | 3,206,127 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 95,454 | | | | — | |
| | | | | | | |
USD | | | 3,629,496 | | | EUR | | | 3,066,606 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 75,634 | | | | — | |
| | | | | | | |
USD | | | 2,294,754 | | | EUR | | | 1,948,132 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 37,081 | | | | — | |
| | | | | | | |
USD | | | 397,154 | | | EUR | | | 334,830 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 9,123 | | | | — | |
| | | | | | | |
USD | | | 350,728 | | | EUR | | | 296,526 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 7,087 | | | | — | |
| | | | | | | |
USD | | | 242,008 | | | EUR | | | 203,522 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 6,148 | | | | — | |
| | | | | | | |
USD | | | 248,416 | | | EUR | | | 209,433 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 5,706 | | | | — | |
| | | | | | | |
USD | | | 115,175 | | | EUR | | | 96,822 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 2,969 | | | | — | |
| | | | | | | |
USD | | | 210,244 | | | EUR | | | 179,124 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 2,659 | | | | — | |
| | | | | | | |
USD | | | 163,595 | | | EUR | | | 139,246 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 2,224 | | | | — | |
| | | | |
| | 43 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | | | | | | | | | | | | | |
Forward Foreign Currency Exchange Contracts (continued) | |
| | | | | |
Currency Purchased | | | Currency Sold | | | Counterparty | | Settlement Date | | | Unrealized Appreciation | | | Unrealized (Depreciation) | |
| | | | | | | |
USD | | | 60,452 | | | EUR | | | 51,504 | | | State Street Bank and Trust Company | | | 10/29/21 | | | $ | 765 | | | $ | — | |
| | | | | | | |
USD | | | 149,511 | | | EUR | | | 128,921 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 105 | | | | — | |
| | | | | | | |
USD | | | 5,577,817 | | | GBP | | | 4,009,861 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 174,762 | | | | — | |
| | | | | | | |
USD | | | 4,796,619 | | | GBP | | | 3,454,023 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 142,524 | | | | — | |
| | | | | | | |
USD | | | 416,077 | | | GBP | | | 299,615 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 12,363 | | | | — | |
| | | | | | | |
USD | | | 141,865 | | | GBP | | | 101,985 | | | State Street Bank and Trust Company | | | 10/29/21 | | | | 4,446 | | | | — | |
| | | | | | | |
USD | | | 39,779,805 | | | EUR | | | 34,305,944 | | | Standard Chartered Bank | | | 11/2/21 | | | | 19,937 | | | | — | |
| | | | | | | |
USD | | | 44,828,826 | | | EUR | | | 37,919,791 | | | HSBC Bank USA, N.A. | | | 11/30/21 | | | | 857,109 | | | | — | |
| | | | | | | |
USD | | | 1,184,601 | | | EUR | | | 1,000,000 | | | State Street Bank and Trust Company | | | 11/30/21 | | | | 25,003 | | | | — | |
| | | | | | | |
USD | | | 751,169 | | | GBP | | | 545,586 | | | State Street Bank and Trust Company | | | 11/30/21 | | | | 16,026 | | | | — | |
| | |
| | | $ | 3,748,901 | | | $ | (61,146 | ) |
| | | | | | | | | | | | | | | | | | | | |
Futures Contracts | |
| | | | | |
Description | | Number of Contracts | | | Position | | | Expiration Date | | | Notional Amount | | | Value/Unrealized Appreciation (Depreciation) | |
| | | | | |
Interest Rate Futures | | | | | | | | | | | | | | | | | | | | |
| | | | | |
U.S. 10-Year Treasury Note | | | 129 | | | | Long | | | | 12/21/21 | | | $ | 16,977,609 | | | $ | (217,766 | ) |
| | | | | |
Euro-Bund | | | (35 | ) | | | Short | | | | 12/8/21 | | | | (6,884,884 | ) | | | 110,682 | |
| | | | | |
Euro-Buxl | | | (18 | ) | | | Short | | | | 12/8/21 | | | | (4,239,700 | ) | | | 135,944 | |
| | | | | |
U.S. 5-Year Treasury Note | | | (10 | ) | | | Short | | | | 12/31/21 | | | | (1,227,422 | ) | | | 7,500 | |
| | | | | |
U.S. 10-Year Treasury Note | | | (196 | ) | | | Short | | | | 12/21/21 | | | | (25,795,437 | ) | | | 293,751 | |
| | | | | |
U.S. Long Treasury Bond | | | (224 | ) | | | Short | | | | 12/21/21 | | | | (35,665,000 | ) | | | 777,330 | |
| | | | | |
U.S. Ultra-Long Treasury Bond | | | (26 | ) | | | Short | | | | 12/21/21 | | | | (4,967,625 | ) | | | 177,523 | |
| | | | | |
| | | | | | | | | | | | | | | | | | $ | 1,284,964 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Centrally Cleared Interest Rate Swaps | |
| | | | | | | |
Notional Amount (000’s omitted) | | Fund Pays/Receives Floating Rate | | | Floating Rate | | Annual Fixed Rate | | Termination Date | | | Value | | | Unamortized Upfront Receipts (Payments) | | | Unrealized Appreciation (Depreciation) | |
| | | | | | | | |
EUR | | 700 | | | Receives | | | 6-month EURIBOR (pays semi-annually) | | (0.47)% (pays annually) | | | 5/4/23 | | | $ | (54 | ) | �� | $ | — | | | $ | (54 | ) |
| | | | | | | | |
EUR | | 246 | | | Receives | | | 6-month EURIBOR (pays semi-annually) | | 0.37% (pays annually) | | | 2/12/50 | | | | 8,613 | | | | — | | | | 8,613 | |
| | | | | | | | |
EUR | | 165 | | | Receives | | | 6-month EURIBOR (pays semi-annually) | | 0.39% (pays annually) | | | 2/13/50 | | | | 4,951 | | | | — | | | | 4,951 | |
| | | | | | | | |
EUR | | 1,500 | | | Receives | | | 6-month EURIBOR (pays semi-annually) | | 0.26% (pays annually) | | | 2/25/50 | | | | 106,575 | | | | — | | | | 106,575 | |
| | | | | | | | |
EUR | | 60 | | | Receives | | | 6-month EURIBOR (pays semi-annually) | | 0.21% (pays annually) | | | 2/26/50 | | | | 5,285 | | | | (2 | ) | | | 5,283 | |
| | | | | | | | |
USD | | 2,680 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.55% (pays semi-annually) | | | 3/12/23 | | | | (12,506 | ) | | | — | | | | (12,506 | ) |
| | | | |
| | 44 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Centrally Cleared Interest Rate Swaps (continued) | |
| | | | | | | |
Notional Amount (000’s omitted) | | Fund Pays/Receives Floating Rate | | | Floating Rate | | Annual Fixed Rate | | Termination Date | | | Value | | | Unamortized Upfront Receipts (Payments) | | | Unrealized Appreciation (Depreciation) | |
| | | | | | | | |
USD | | 200 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.49% (pays semi-annually) | | | 1/28/25 | | | $ | (5,459 | ) | | $ | — | | | $ | (5,459 | ) |
| | | | | | | | |
USD | | 461 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.46% (pays semi-annually) | | | 1/30/25 | | | | (12,126 | ) | | | — | | | | (12,126 | ) |
| | | | | | | | |
USD | | 800 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.41% (pays semi-annually) | | | 2/3/25 | | | | (19,506 | ) | | | — | | | | (19,506 | ) |
| | | | | | | | |
USD | | 260 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.44% (pays semi-annually) | | | 2/18/25 | | | | (6,408 | ) | | | — | | | | (6,408 | ) |
| | | | | | | | |
USD | | 200 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.16% (pays semi-annually) | | | 2/28/25 | | | | (2,939 | ) | | | — | | | | (2,939 | ) |
| | | | | | | | |
USD | | 120 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.83% (pays semi-annually) | | | 3/5/25 | | | | (346 | ) | | | — | | | | (346 | ) |
| | | | | | | | |
USD | | 452 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.39% (pays semi-annually) | | | 6/19/25 | | | | 6,776 | | | | — | | | | 6,776 | |
| | | | | | | | |
USD | | 2,240 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.74% (pays semi-annually) | | | 12/16/26 | | | | (85,329 | ) | | | — | | | | (85,329 | ) |
| | | | | | | | |
USD | | 5,222 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 2.09% (pays semi-annually) | | | 7/15/29 | | | | (295,811 | ) | | | 1,380 | | | | (294,431 | ) |
| | | | | | | | |
USD | | 800 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.76% (pays semi-annually) | | | 12/12/29 | | | | (25,989 | ) | | | — | | | | (25,989 | ) |
| | | | | | | | |
USD | | 511 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.60% (pays semi-annually) | | | 5/12/30 | | | | 34,509 | | | | — | | | | 34,509 | |
| | | | | | | | |
USD | | 700 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.66% (pays semi-annually) | | | 6/2/30 | | | | 44,659 | | | | — | | | | 44,659 | |
| | | | | | | | |
USD | | 511 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.80% (pays semi-annually) | | | 6/11/30 | | | | 26,794 | | | | — | | | | 26,794 | |
| | | | | | | | |
USD | | 27 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.77% (pays semi-annually) | | | 6/12/30 | | | | 1,469 | | | | — | | | | 1,469 | |
| | | | | | | | |
USD | | 375 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.69% (pays semi-annually) | | | 6/16/30 | | | | 23,099 | | | | — | | | | 23,099 | |
| | | | | | | | |
USD | | 313 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.74% (pays semi-annually) | | | 6/18/30 | | | | 18,067 | | | | — | | | | 18,067 | |
| | | | | | | | |
USD | | 1,280 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 2.88% (pays semi-annually) | | | 1/31/49 | | | | (307,981 | ) | | | (614 | ) | | | (308,595 | ) |
| | | | | | | | |
USD | | 128 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.71% (pays semi-annually) | | | 8/27/49 | | | | 3,114 | | | | — | | | | 3,114 | |
| | | | | | | | |
USD | | 148 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.70% (pays semi-annually) | | | 8/27/49 | | | | 3,974 | | | | — | | | | 3,974 | |
| | | | | | | | |
USD | | 160 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.65% (pays semi-annually) | | | 8/28/49 | | | | 6,352 | | | | — | | | | 6,352 | |
| | | | | | | | |
USD | | 85 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.54% (pays semi-annually) | | | 8/30/49 | | | | 5,462 | | | | — | | | | 5,462 | |
| | | | | | | | |
USD | | 88 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.70% (pays semi-annually) | | | 9/12/49 | | | | 2,517 | | | | — | | | | 2,517 | |
| | | | | | | | |
USD | | 91 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.81% (pays semi-annually) | | | 12/6/49 | | | | (216 | ) | | | — | | | | (216 | ) |
| | | | |
| | 45 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
| | | | | | | | | | | | | | | | | | | | | | | | | | |
Centrally Cleared Interest Rate Swaps (continued) | |
| | | | | | | |
Notional Amount (000’s omitted) | | Fund Pays/Receives Floating Rate | | | Floating Rate | | Annual Fixed Rate | | Termination Date | | | Value | | | Unamortized Upfront Receipts (Payments) | | | Unrealized Appreciation (Depreciation) | |
| | | | | | | | |
USD | | 19 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 1.94% (pays semi-annually) | | | 1/9/50 | | | $ | (568 | ) | | $ | — | | | $ | (568 | ) |
| | | | | | | | |
USD | | 1,650 | | | Receives | | | 3-month USD-LIBOR (pays quarterly) | | 0.96% (pays semi-annually) | | | 6/2/50 | | | | 327,724 | | | | — | | | | 327,724 | |
| | | | | | | | |
Total | | | | | | | | | | | | | | | | $ | (145,298 | ) | | $ | 764 | | | $ | (144,534 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Centrally Cleared Credit Default Swaps — Sell Protection | |
| | | | | | | | |
Reference Entity | | | | Notional Amount* (000’s omitted) | | | Contract Annual Fixed Rate** | | Termination Date | | | Current Market Annual Fixed Rate*** | | | Value | | | Unamortized Upfront Receipts (Payments) | | | Unrealized Appreciation (Depreciation) | |
| | | | | | | | |
Indonesia | | | | $ | 3,750 | | | 1.00% (pays quarterly)(1) | | | 12/20/26 | | | | 0.82 | % | | $ | 35,516 | | | $ | (47,683 | ) | | $ | (12,167 | ) |
| | | | | | | | |
Turkey | | | | | 2,400 | | | 1.00% (pays quarterly)(1) | | | 6/20/25 | | | | 4.04 | | | | (248,808 | ) | | | 319,626 | | | | 70,818 | |
| | | | | | | | |
Total | | | | $ | 6,150 | | | | | | | | | | | | | $ | (213,292 | ) | | $ | 271,943 | | | $ | 58,651 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Credit Default Swaps — Sell Protection | |
| | | | | | | | |
Reference Entity | | Counterparty | | | Notional Amount* (000’s omitted) | | | Contract Annual Fixed Rate** | | Termination Date | | Current Market Annual Fixed Rate*** | | | Value | | | Unamortized Upfront Receipts (Payments) | | | Unrealized Appreciation (Depreciation) | |
| | | | | | | | |
Bahamas | | | Deutsche Bank AG | | | $ | 1,150 | | | 1.00% (pays quarterly)(1) | | 6/20/22 | | | 5.80 | % | | $ | (38,829 | ) | | $ | 14,838 | | | $ | (23,991 | ) |
| | | | | | | | |
Mexico | | | Citibank, N.A. | | | | 3,191 | | | 1.00% (pays quarterly)(1) | | 12/20/31 | | | 1.64 | | | | (183,442 | ) | | | 145,757 | | | | (37,685 | ) |
| | | | | | | | |
Total | | | | | | $ | 4,341 | | | | | | | | | | | $ | (222,271 | ) | | $ | 160,595 | | | $ | (61,676 | ) |
* | If the Fund is the seller of credit protection, the notional amount is the maximum potential amount of future payments the Fund could be required to make if a credit event, as defined in the credit default swap agreement, were to occur. At September 30, 2021, such maximum potential amount for all open credit default swaps in which the Fund is the seller was $10,491,000. |
** | The contract annual fixed rate represents the fixed rate of interest received by the Fund (as a seller of protection) on the notional amount of the credit default swap contract. |
*** | Current market annual fixed rates, utilized in determining the net unrealized appreciation or depreciation as of period end, serve as an indicator of the market’s perception of the current status of the payment/performance risk associated with the credit derivative. The current market annual fixed rate of a particular reference entity reflects the cost, as quoted by the pricing vendor, of selling protection against default of that entity as of period end and may include upfront payments required to be made to enter into the agreement. The higher the fixed rate, the greater the market perceived risk of a credit event involving the reference entity. A rate identified as “Defaulted” indicates a credit event has occurred for the reference entity. |
(1) | Upfront payment is exchanged with the counterparty as a result of the standardized trading coupon. |
| | | | |
| | 46 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Portfolio of Investments (Unaudited) — continued
Abbreviations:
| | | | |
| | |
CMT | | – | | Constant Maturity Treasury |
| | |
COF | | – | | Cost of Funds 11th District |
| | |
DIP | | – | | Debtor In Possession |
| | |
EURIBOR | | – | | Euro Interbank Offered Rate |
| | |
GDP | | – | | Gross Domestic Product |
| | |
LIBOR | | – | | London Interbank Offered Rate |
| | |
PIK | | – | | Payment In Kind |
| | |
SOFR | | – | | Secured Overnight Financing Rate |
| | |
SONIA | | – | | Sterling Overnight Interbank Average |
| | |
TBA | | – | | To Be Announced |
Currency Abbreviations:
| | | | |
| | |
CAD | | – | | Canadian Dollar |
| | |
EUR | | – | | Euro |
| | |
GBP | | – | | British Pound Sterling |
| | |
USD | | – | | United States Dollar |
| | | | |
| | 47 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Statement of Assets and Liabilities (Unaudited)
| | | | |
Assets | | September 30, 2021 | |
| |
Unaffiliated investments, at value (identified cost, $2,369,675,371) | | $ | 2,360,210,956 | |
| |
Affiliated investments, at value (identified cost, $50,196,544) | | | 49,363,783 | |
| |
Cash | | | 2,731,714 | |
| |
Deposits for derivatives collateral — | | | | |
| |
Financial futures contracts | | | 1,411,495 | |
| |
Centrally cleared derivatives | | | 5,506,532 | |
| |
OTC derivatives | | | 1,480,000 | |
| |
Deposits for forward commitment securities | | | 720,000 | |
| |
Foreign currency, at value (identified cost, $10,897,816) | | | 10,732,411 | |
| |
Interest and dividends receivable | | | 17,091,070 | |
| |
Interest and dividends receivable from affiliated investments | | | 39,048 | |
| |
Receivable for investments sold | | | 73,740,126 | |
| |
Receivable for variation margin on open centrally cleared derivatives | | | 1,349 | |
| |
Receivable for open forward foreign currency exchange contracts | | | 3,748,901 | |
| |
Receivable for closed swap contracts | | | 291 | |
| |
Tax reclaims receivable | | | 1,759 | |
| |
Prepaid upfront fees on notes payable | | | 114,012 | |
| |
Prepaid expenses | | | 11,102 | |
| |
Total assets | | $ | 2,526,904,549 | |
| |
Liabilities | | | | |
| |
Notes payable | | $ | 510,000,000 | |
| |
Cash collateral due to brokers | | | 1,480,000 | |
| |
Payable for investments purchased | | | 28,740,548 | |
| |
Payable for when-issued/delayed delivery/forward commitment securities | | | 206,643,325 | |
| |
Payable for variation margin on open financial futures contracts | | | 37,487 | |
| |
Payable for open forward foreign currency exchange contracts | | | 61,146 | |
| |
Payable for open swap contracts | | | 61,676 | |
| |
Payable for closed swap contracts | | | 250 | |
| |
Upfront receipts on open non-centrally cleared swap contracts | | | 160,595 | |
| |
Payable to affiliate: | | | | |
| |
Investment adviser fee | | | 1,421,698 | |
| |
Accrued expenses | | | 1,798,743 | |
| |
Total liabilities | | $ | 750,405,468 | |
| |
Auction preferred shares (8,640 shares outstanding) at liquidation value plus cumulative unpaid dividends | | $ | 216,002,636 | |
| |
Net assets applicable to common shares | | $ | 1,560,496,445 | |
| |
Sources of Net Assets | | | | |
| |
Common shares, $0.01 par value, unlimited number of shares authorized, 116,147,018 shares issued and outstanding | | $ | 1,161,470 | |
| |
Additional paid-in capital | | | 1,742,516,950 | |
| |
Accumulated loss | | | (183,181,975 | ) |
| |
Net assets applicable to common shares | | $ | 1,560,496,445 | |
| |
Net Asset Value Per Common Share | | | | |
| |
($1,560,496,445 ÷ 116,147,018 common shares issued and outstanding) | | $ | 13.44 | |
| | | | |
| | 48 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Statement of Operations (Unaudited)
| | | | |
Investment Income | | Six Months Ended September 30, 2021 | |
| |
Interest and other income (net of foreign taxes, $166) | | $ | 50,905,224 | |
| |
Interest from affiliated investments | | | 328,232 | |
| |
Dividends | | | 1,106,977 | |
| |
Dividends from affiliated investment | | | 21,258 | |
| |
Total investment income | | $ | 52,361,691 | |
| |
Expenses | | | | |
| |
Investment adviser fee | | $ | 8,804,807 | |
| |
Trustees’ fees and expenses | | | 54,250 | |
| |
Custodian fee | | | 340,014 | |
| |
Transfer and dividend disbursing agent fees | | | 9,877 | |
| |
Legal and accounting services | | | 225,691 | |
| |
Printing and postage | | | 216,743 | |
| |
Interest expense and fees | | | 4,155,285 | |
| |
Preferred shares service fee | | | 113,612 | |
| |
Miscellaneous | | | 108,338 | |
| |
Total expenses | | $ | 14,028,617 | |
| |
Net investment income | | $ | 38,333,074 | |
| |
Realized and Unrealized Gain (Loss) | | | | |
| |
Net realized gain (loss) — | | | | |
| |
Investment transactions | | $ | 5,899,404 | |
| |
Investment transactions — affiliated investments | | | (6,130 | ) |
| |
Financial futures contracts | | | (2,006,866 | ) |
| |
Swap contracts | | | 373,351 | |
| |
Foreign currency transactions | | | (136,753 | ) |
| |
Forward foreign currency exchange contracts | | | 4,330,594 | |
| |
Net realized gain | | $ | 8,453,600 | |
| |
Change in unrealized appreciation (depreciation) — | | | | |
| |
Investments | | $ | 9,732,253 | |
| |
Investments — affiliated investments | | | 207,511 | |
| |
Financial futures contracts | | | (462,688 | ) |
| |
Swap contracts | | | (918,282 | ) |
| |
Foreign currency | | | (1,430,467 | ) |
| |
Forward foreign currency exchange contracts | | | 704,031 | |
| |
Net change in unrealized appreciation (depreciation) | | $ | 7,832,358 | |
| |
Net realized and unrealized gain | | $ | 16,285,958 | |
| |
Distributions to preferred shareholders | | $ | (126,473 | ) |
| |
Net increase in net assets from operations | | $ | 54,492,559 | |
| | | | |
| | 49 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Statements of Changes in Net Assets
| | | | | | | | |
Increase (Decrease) in Net Assets | | Six Months Ended
September 30, 2021 (Unaudited) | | | Year Ended
March 31, 2021 | |
| | |
From operations — | | | | | | | | |
| | |
Net investment income | | $ | 38,333,074 | | | $ | 87,784,984 | |
| | |
Net realized gain (loss) | | | 8,453,600 | | | | (21,448,040 | ) |
| | |
Net change in unrealized appreciation (depreciation) | | | 7,832,358 | | | | 284,405,401 | |
| | |
Distributions to preferred shareholders | | | (126,473 | ) | | | (870,765 | ) |
| | |
Net increase in net assets from operations | | $ | 54,492,559 | | | $ | 349,871,580 | |
| | |
Distributions to common shareholders | | $ | (69,688,211 | )* | | $ | (91,690,091 | ) |
| | |
Tax return of capital to common shareholders | | $ | — | | | $ | (47,686,331 | ) |
| | |
Net increase (decrease) in net assets | | $ | (15,195,652 | ) | | $ | 210,495,158 | |
| | |
Net Assets Applicable to Common Shares | | | | | | | | |
| | |
At beginning of period | | $ | 1,575,692,097 | | | $ | 1,365,196,939 | |
| | |
At end of period | | $ | 1,560,496,445 | | | $ | 1,575,692,097 | |
* | A portion of the distributions may be deemed a tax return of capital at year-end. See Note 3. |
| | | | |
| | 50 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Statement of Cash Flows (Unaudited)
| | | | |
Cash Flows From Operating Activities | | Six Months Ended September 30, 2021 | |
| |
Net increase in net assets from operations | | $ | 54,492,559 | |
| |
Distributions to preferred shareholders | | | 126,473 | |
| |
Net increase in net assets from operations excluding distributions to preferred shareholders | | $ | 54,619,032 | |
| |
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities: | | | | |
| |
Investments purchased | | | (1,149,618,165 | ) |
| |
Investments sold and principal repayments | | | 1,260,302,868 | |
| |
Increase in short-term investments, net | | | (19,897,011 | ) |
| |
Net amortization/accretion of premium (discount) | | | 4,096,369 | |
| |
Amortization of prepaid upfront fees on notes payable | | | 261,122 | |
| |
Decrease in interest and dividends receivable | | | 899,423 | |
| |
Decrease in interest and dividends receivable from affiliated investments | | | 656 | |
| |
Decrease in receivable for variation margin on open financial futures contracts | | | 25,017 | |
| |
Decrease in receivable for variation margin on open centrally cleared derivatives | | | 49,014 | |
| |
Increase in receivable for open forward foreign currency exchange contracts | | | (674,976 | ) |
| |
Increase in receivable for closed swap contracts | | | (291 | ) |
| |
Decrease in tax reclaims receivable | | | 5,936 | |
| |
Decrease in prepaid expenses | | | 13,075 | |
| |
Decrease in cash collateral due to brokers | | | (1,910,000 | ) |
| |
Increase in payable for variation margin on open financial futures contracts | | | 37,487 | |
| |
Decrease in payable for open forward foreign currency exchange contracts | | | (182,165 | ) |
| |
Increase in payable for open swap contracts | | | 36,059 | |
| |
Increase in payable for closed swap contracts | | | 250 | |
| |
Decrease in upfront receipts on open non-centrally cleared swap contracts | | | (95,370 | ) |
| |
Decrease in payable to affiliate for investment adviser fee | | | (87,741 | ) |
| |
Decrease in accrued expenses | | | (77,612 | ) |
| |
Decrease in other liabilities | | | (38,546,811 | ) |
| |
Decrease in unfunded loan commitments | | | (803,460 | ) |
| |
Net change in unrealized (appreciation) depreciation from investments | | | (9,939,764 | ) |
| |
Net realized gain from investments | | | (5,893,274 | ) |
| |
Net cash provided by operating activities | | $ | 92,619,668 | |
| |
Cash Flows From Financing Activities | | | | |
| |
Cash distributions paid to common shareholders | | $ | (69,688,211 | ) |
| |
Cash distributions paid to preferred shareholders | | | (126,559 | ) |
| |
Proceeds from notes payable | | | 215,000,000 | |
| |
Repayments of notes payable | | | (275,000,000 | ) |
| |
Net cash used in financing activities | | $ | (129,814,770 | ) |
| |
Net decrease in cash and restricted cash* | | $ | (37,195,102 | ) |
| |
Cash and restricted cash at beginning of period (including foreign currency) | | $ | 59,777,254 | |
| |
Cash and restricted cash at end of period (including foreign currency) | | $ | 22,582,152 | |
| |
Supplemental disclosure of cash flow information: | | | | |
| |
Cash paid for interest and fees on borrowings | | $ | 3,928,056 | |
* | Includes net change in unrealized appreciation (depreciation) on foreign currency of $(196,078). |
| | | | |
| | 51 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Statement of Cash Flows (Unaudited) — continued
The following table provides a reconciliation of cash and restricted cash reported within the Statement of Assets and Liabilities that sum to the total of such amounts shown on the Statement of Cash Flows.
| | | | |
| | September 30, 2021 | |
| |
Cash | | $ | 2,731,714 | |
| |
Deposits for derivatives collateral — | | | | |
| |
Financial futures contracts | | | 1,411,495 | |
| |
Centrally cleared derivatives | | | 5,506,532 | |
| |
OTC derivatives | | | 1,480,000 | |
| |
Deposits for forward commitment securities | | | 720,000 | |
| |
Foreign currency | | | 10,732,411 | |
| |
Total cash and restricted cash as shown on the Statement of Cash Flows | | $ | 22,582,152 | |
| | | | |
| | 52 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Financial Highlights
Selected data for a common share outstanding during the periods stated
| | | | | | | | | | | | | | | | | | | | | | | | |
| | |
| | Six Months Ended September 30, 2021 (Unaudited) | | | Year Ended March 31, | |
| | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| | | | | | |
Net asset value — Beginning of period (Common shares) | | $ | 13.570 | | | $ | 11.750 | | | $ | 14.450 | | | $ | 14.740 | | | $ | 15.110 | | | $ | 14.510 | |
| | | | | | |
Income (Loss) From Operations | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Net investment income(1) | | $ | 0.330 | | | $ | 0.756 | | | $ | 0.762 | | | $ | 0.826 | | | $ | 0.808 | | | $ | 0.899 | |
| | | | | | |
Net realized and unrealized gain (loss) | | | 0.141 | | | | 2.271 | | | | (2.390 | ) | | | (0.267 | ) | | | (0.168 | ) | | | 0.834 | |
| | | | | | |
Distributions to preferred shareholders — | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
From net investment income(1) | | | (0.001 | ) | | | (0.007 | ) | | | (0.055 | ) | | | (0.066 | ) | | | (0.043 | ) | | | (0.018 | ) |
| | | | | | |
Discount on redemption and repurchase of auction preferred shares(1) | | | — | | | | — | | | | — | | | | 0.035 | | | | — | | | | — | |
| | | | | | |
Total income (loss) from operations | | $ | 0.470 | | | $ | 3.020 | | | $ | (1.683 | ) | | $ | 0.528 | | | $ | 0.597 | | | $ | 1.715 | |
| | | | | | |
Less Distributions to Common Shareholders | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
From net investment income | | $ | (0.600 | )* | | $ | (0.789 | ) | | $ | (0.839 | ) | | $ | (0.818 | ) | | $ | (0.818 | ) | | $ | (0.991 | ) |
| | | | | | |
Tax return of capital | | | — | | | | (0.411 | ) | | | (0.178 | ) | | | — | | | | (0.149 | ) | | | (0.124 | ) |
| | | | | | |
Total distributions to common shareholders | | $ | (0.600 | ) | | $ | (1.200 | ) | | $ | (1.017 | ) | | $ | (0.818 | ) | | $ | (0.967 | ) | | $ | (1.115 | ) |
| | | | | | |
Net asset value — End of period (Common shares) | | $ | 13.440 | | | $ | 13.570 | | | $ | 11.750 | | | $ | 14.450 | | | $ | 14.740 | | | $ | 15.110 | |
| | | | | | |
Market value — End of period (Common shares) | | $ | 13.180 | | | $ | 12.630 | | | $ | 10.570 | | | $ | 12.650 | | | $ | 13.020 | | | $ | 13.830 | |
| | | | | | |
Total Investment Return on Net Asset Value(2) | | | 3.73 | %(3) | | | 27.62 | % | | | (11.69 | )% | | | 4.57 | %(4) | | | 4.72 | % | | | 12.99 | % |
| | | | | | |
Total Investment Return on Market Value(2) | | | 9.22 | %(3) | | | 32.25 | % | | | (9.33 | )% | | | 3.70 | % | | | 0.99 | % | | | 13.85 | % |
* | A portion of the distributions may be deemed a tax return of capital at year-end. See Note 3. |
| | | | |
| | 53 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Financial Highlights — continued
Selected data for a common share outstanding during the periods stated
| | | | | | | | | | | | | | | | | | | | | | | | |
| | |
| | Six Months Ended September 30, 2021 (Unaudited) | | | Year Ended March 31, | |
Ratios/Supplemental Data | | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| | | | | | |
Net assets applicable to common shares, end of period (000’s omitted) | | $ | 1,560,496 | | | $ | 1,575,692 | | | $ | 1,365,197 | | | $ | 1,678,459 | | | $ | 1,712,583 | | | $ | 1,755,135 | |
| | | | | | |
Ratios (as a percentage of average daily net assets applicable to common shares):(5)† | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Expenses excluding interest and fees | | | 1.25 | %(6) | | | 1.33 | % | | | 1.29 | % | | | 1.31 | % | | | 1.30 | % | | | 1.32 | % |
| | | | | | |
Interest and fee expense(7) | | | 0.53 | %(6) | | | 0.58 | % | | | 1.33 | % | | | 1.43 | % | | | 1.00 | % | | | 0.73 | % |
| | | | | | |
Total expenses | | | 1.78 | %(6) | | | 1.91 | % | | | 2.62 | % | | | 2.74 | % | | | 2.30 | % | | | 2.05 | % |
| | | | | | |
Net investment income | | | 4.86 | %(6) | | | 5.73 | % | | | 5.33 | % | | | 5.71 | % | | | 5.36 | % | | | 6.01 | % |
| | | | | | |
Portfolio Turnover | | | 52 | %(3)(8) | | | 57 | %(8) | | | 49 | % | | | 34 | % | | | 43 | % | | | 45 | % |
| | | | | | |
Senior Securities: | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | |
Total notes payable outstanding (in 000’s) | | $ | 510,000 | | | $ | 570,000 | | | $ | 525,000 | | | $ | 595,000 | | | $ | 663,000 | | | $ | 585,000 | |
| | | | | | |
Asset coverage per $1,000 of notes payable(9) | | $ | 4,483 | | | $ | 4,143 | | | $ | 4,012 | | | $ | 4,184 | | | $ | 3,985 | | | $ | 4,456 | |
| | | | | | |
Total preferred shares outstanding | | | 8,640 | | | | 8,640 | | | | 8,640 | | | | 8,640 | | | | 10,665 | | | | 10,665 | |
| | | | | | |
Asset coverage per preferred share(10) | | $ | 78,736 | | | $ | 75,118 | | | $ | 71,062 | | | $ | 76,744 | | | $ | 71,059 | | | $ | 76,524 | |
| | | | | | |
Involuntary liquidation preference per preferred share(11) | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | |
| | | | | | |
Approximate market value per preferred share(11) | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | | | $ | 25,000 | |
(1) | Computed using average common shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Fund’s dividend reinvestment plan. |
(4) | The total return based on net asset value reflects the impact of the tender and repurchase by the Fund of a portion of its Auction Preferred Shares at 92% of the per share liquidation preference. Absent this transaction, the total return based on net asset value would have been 4.31%. |
(5) | Ratios do not reflect the effect of dividend payments to preferred shareholders. |
(7) | Interest and fee expense relates to the notes payable, a portion of which was incurred to partially redeem the Fund’s Auction Preferred Shares (see Note 2). |
(8) | Includes the effect of To-Be-Announced (TBA) transactions. |
(9) | Calculated by subtracting the Fund’s total liabilities (not including the notes payable and preferred shares) from the Fund’s total assets, and dividing the result by the notes payable balance in thousands. |
(10) | Calculated by subtracting the Fund’s total liabilities (not including the notes payable and preferred shares) from the Fund’s total assets, dividing the result by the sum of the value of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 315%, 300%, 284%, 307%, 284% and 306% at September 30, 2021 and March 31, 2021, 2020, 2019, 2018 and 2017, respectively. |
(11) | Plus accumulated and unpaid dividends. |
† | Ratios based on net assets applicable to common shares plus preferred shares and borrowings are presented below. Ratios do not reflect the effect of dividend payments to preferred shareholders. Ratios for periods less than one year are annualized. |
| | | | | | | | | | | | | | | | | | | | | | | | |
| | |
| | Six Months Ended September 30, 2021 (Unaudited) | | | Year Ended March 31, | |
| | 2021 | | | 2020 | | | 2019 | | | 2018 | | | 2017 | |
| | | | | | |
Expenses excluding interest and fees | | | 0.85 | % | | | 0.88 | % | | | 0.86 | % | | | 0.87 | % | | | 0.87 | % | | | 0.87 | % |
| | | | | | |
Interest and fee expense | | | 0.35 | % | | | 0.38 | % | | | 0.89 | % | | | 0.95 | % | | | 0.67 | % | | | 0.49 | % |
| | | | | | |
Total expenses | | | 1.20 | % | | | 1.26 | % | | | 1.75 | % | | | 1.82 | % | | | 1.54 | % | | | 1.36 | % |
| | | | | | |
Net investment income | | | 3.27 | % | | | 3.79 | % | | | 3.57 | % | | | 3.79 | % | | | 3.58 | % | | | 3.99 | % |
| | | | |
| | 54 | | See Notes to Financial Statements. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited)
1 Significant Accounting Policies
Eaton Vance Limited Duration Income Fund (the Fund) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide a high level of current income. The Fund may, as a secondary objective, also seek capital appreciation to the extent it is consistent with its primary objective.
The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946.
A Investment Valuation — The following methodologies are used to determine the market value or fair value of investments.
Senior Floating-Rate Loans. Interests in senior floating-rate loans (Senior Loans) for which reliable market quotations are readily available are valued generally at the average mean of bid and ask quotations obtained from a third party pricing service. Other Senior Loans are valued at fair value by the investment adviser under procedures approved by the Trustees. In fair valuing a Senior Loan, the investment adviser utilizes one or more of the valuation techniques described in (i) through (iii) below to assess the likelihood that the borrower will make a full repayment of the loan underlying such Senior Loan relative to yields on other Senior Loans issued by companies of comparable credit quality. If the investment adviser believes that there is a reasonable likelihood of full repayment, the investment adviser will determine fair value using a matrix pricing approach that considers the yield on the Senior Loan. If the investment adviser believes there is not a reasonable likelihood of full repayment, the investment adviser will determine fair value using analyses that include, but are not limited to: (i) a comparison of the value of the borrower’s outstanding equity and debt to that of comparable public companies; (ii) a discounted cash flow analysis; or (iii) when the investment adviser believes it is likely that a borrower will be liquidated or sold, an analysis of the terms of such liquidation or sale. In certain cases, the investment adviser will use a combination of analytical methods to determine fair value, such as when only a portion of a borrower’s assets are likely to be sold. In conducting its assessment and analyses for purposes of determining fair value of a Senior Loan, the investment adviser will use its discretion and judgment in considering and appraising relevant factors. Fair value determinations are made by the portfolio managers of the Fund based on information available to such managers. The portfolio managers of other funds managed by the investment adviser that invest in Senior Loans may not possess the same information about a Senior Loan borrower as the portfolio managers of the Fund. At times, the fair value of a Senior Loan determined by the portfolio managers of other funds managed by the investment adviser that invest in Senior Loans may vary from the fair value of the same Senior Loan determined by the portfolio managers of the Fund. The fair value of each Senior Loan is periodically reviewed and approved by the investment adviser’s Valuation Committee and by the Trustees based upon procedures approved by the Trustees. Junior Loans (i.e., subordinated loans and second lien loans) are valued in the same manner as Senior Loans.
Debt Obligations. Debt obligations are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, interest rates, anticipated prepayments, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term debt obligations purchased with a remaining maturity of sixty days or less for which a valuation from a third party pricing service is not readily available may be valued at amortized cost, which approximates fair value.
Equity Securities. Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and ask prices on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ National Market System generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and ask prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that uses various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events.
Derivatives. Financial futures contracts are valued at the closing settlement price established by the board of trade or exchange on which they are traded. Forward foreign currency exchange contracts are generally valued at the mean of the average bid and average ask prices that are reported by currency dealers to a third party pricing service at the valuation time. Such third party pricing service valuations are supplied for specific settlement periods and the Fund’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent settlement period reported by the third party pricing service. Swaps are normally valued using valuations provided by a third party pricing service. Such pricing service valuations are based on the present value of fixed and projected floating rate cash flows over the term of the swap contract, and in the case of credit default swaps, based on credit spread quotations obtained from broker/dealers and expected default recovery rates determined by the pricing service using proprietary models. Future cash flows on swaps are discounted to their present value using swap rates provided by electronic data services or by broker/dealers.
Foreign Securities and Currencies. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads. The daily valuation of exchange-traded foreign securities generally is determined as of the close of trading on the principal exchange on which such securities trade. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the close of regular trading on the New York Stock Exchange. When valuing foreign equity securities that meet certain criteria, the Fund’s Trustees have approved the use of a fair value service that values such securities to reflect market trading that occurs after the close of the applicable foreign markets of comparable securities or other instruments that have a strong correlation to the fair-valued securities.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
Affiliated Fund. The Fund may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). While Cash Reserves Fund is not a registered money market mutual fund, it conducts all of its investment activities in accordance with the requirements of Rule 2a-7 under the 1940 Act. Investments in Cash Reserves Fund are valued at the closing net asset value per unit on the valuation day. Cash Reserves Fund generally values its investment securities based on available market quotations provided by a third party pricing service.
Fair Valuation. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Fund in a manner that most fairly reflects the security’s “fair value”, which is the amount that the Fund might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.
B Investment Transactions — Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.
C Income — Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount. Fees associated with loan amendments are recognized immediately. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Withholding taxes on foreign interest have been provided for in accordance with the Fund’s understanding of the applicable countries’ tax rules and rates. Distributions from investment companies are recorded as dividend income, capital gains or return of capital based on the nature of the distribution.
D Federal Taxes — The Fund’s policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders each year substantially all of its net investment income, and all or substantially all of its net realized capital gains. Accordingly, no provision for federal income or excise tax is necessary.
As of September 30, 2021, the Fund had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Fund files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.
E Foreign Currency Translation — Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.
F Unfunded Loan Commitments — The Fund may enter into certain loan agreements all or a portion of which may be unfunded. The Fund is obligated to fund these commitments at the borrower’s discretion. These commitments are disclosed in the accompanying Portfolio of Investments. At September 30, 2021, the Fund had sufficient cash and/or securities to cover these commitments.
G Use of Estimates — The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.
H Indemnifications — Under the Fund’s organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Fund. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts business trust (such as the Fund) could be deemed to have personal liability for the obligations of the Fund. However, the Fund’s Declaration of Trust contains an express disclaimer of liability on the part of Fund shareholders and the By-laws provide that the Fund shall assume, upon request by the shareholder, the defense on behalf of any Fund shareholders. Moreover, the By-laws also provide for indemnification out of Fund property of any shareholder held personally liable solely by reason of being or having been a shareholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.
I Financial Futures Contracts — Upon entering into a financial futures contract, the Fund is required to deposit with the broker, either in cash or securities, an amount equal to a certain percentage of the contract amount (initial margin). Subsequent payments, known as variation margin, are made or received by the Fund each business day, depending on the daily fluctuations in the value of the underlying security, and are recorded as unrealized gains or losses by the Fund. Gains (losses) are realized upon the expiration or closing of the financial futures contracts. Should market conditions change unexpectedly, the Fund may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. Futures contracts have minimal counterparty risk as they are exchange traded and the clearinghouse for the exchange is substituted as the counterparty, guaranteeing counterparty performance.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
J Forward Foreign Currency Exchange Contracts — The Fund may enter into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. The forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded as unrealized until such time as the contracts have been closed. While forward foreign currency exchange contracts are privately negotiated agreements between the Fund and a counterparty, certain contracts may be “centrally cleared”, whereby all payments made or received by the Fund pursuant to the contract are with a central clearing party (CCP) rather than the original counterparty. The CCP guarantees the performance of the original parties to the contract. Upon entering into centrally cleared contracts, the Fund is required to deposit with the CCP, either in cash or securities, an amount of initial margin determined by the CCP, which is subject to adjustment. For centrally cleared contracts, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. Risks may arise upon entering forward foreign currency exchange contracts from the potential inability of counterparties to meet the terms of their contracts and from movements in the value of a foreign currency relative to the U.S. dollar. In the case of centrally cleared contracts, counterparty risk is minimal due to protections provided by the CCP.
K Interest Rate Swaps — Pursuant to interest rate swap agreements, the Fund either makes floating-rate payments to the counterparty (or CCP in the case of centrally cleared swaps) based on a benchmark interest rate in exchange for fixed-rate payments or the Fund makes fixed-rate payments to the counterparty (or CCP in the case of a centrally cleared swap) in exchange for payments on a floating benchmark interest rate. Payments received or made, including amortization of upfront payments/receipts, are recorded as realized gains or losses. During the term of the outstanding swap agreement, changes in the underlying value of the swap are recorded as unrealized gains or losses. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. The value of the swap is determined by changes in the relationship between two rates of interest. The Fund is exposed to credit loss in the event of non-performance by the swap counterparty. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP. Risk may also arise from movements in interest rates.
L Credit Default Swaps — When the Fund is the buyer of a credit default swap contract, the Fund is entitled to receive the par (or other agreed-upon) value of a referenced debt obligation (or basket of debt obligations) from the counterparty (or CCP in the case of a centrally cleared swap) to the contract if a credit event by a third party, such as a U.S. or foreign corporate issuer or sovereign issuer, on the debt obligation occurs. In return, the Fund pays the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Fund would have spent the stream of payments and received no proceeds from the contract. When the Fund is the seller of a credit default swap contract, it receives the stream of payments, but is obligated to pay to the buyer of the protection an amount up to the notional amount of the swap and in certain instances take delivery of securities of the reference entity upon the occurrence of a credit event, as defined under the terms of that particular swap agreement. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiation/moratorium. If the Fund is a seller of protection and a credit event occurs, the maximum potential amount of future payments that the Fund could be required to make would be an amount equal to the notional amount of the agreement. This potential amount would be partially offset by any recovery value of the respective referenced obligation, or net amount received from the settlement of a buy protection credit default swap agreement entered into by the Fund for the same referenced obligation. As the seller, the Fund may create economic leverage to its portfolio because, in addition to its total net assets, the Fund is subject to investment exposure on the notional amount of the swap. The interest fee paid or received on the swap contract, which is based on a specified interest rate on a fixed notional amount, is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized gain upon receipt or realized loss upon payment. The Fund also records an increase or decrease to unrealized appreciation (depreciation) in an amount equal to the daily valuation. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. All upfront payments and receipts, if any, are amortized over the life of the swap contract as realized gains or losses. Those upfront payments or receipts for non-centrally cleared swaps are recorded as other assets or other liabilities, respectively, net of amortization. For financial reporting purposes, unamortized upfront payments or receipts, if any, are netted with unrealized appreciation or depreciation on swap contracts to determine the market value of swaps as presented in Notes 8 and 11. The Fund segregates assets in the form of cash or liquid securities in an amount equal to the notional amount of the credit default swaps of which it is the seller. The Fund segregates assets in the form of cash or liquid securities in an amount equal to any unrealized depreciation of the credit default swaps of which it is the buyer, marked-to-market on a daily basis. These transactions involve certain risks, including the risk that the seller may be unable to fulfill the transaction. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP.
M When-Issued Securities and Delayed Delivery Transactions — The Fund may purchase securities on a delayed delivery, when-issued or forward commitment basis, including TBA (To Be Announced) securities. Payment and delivery may take place after the customary settlement period for that security. At the time the transaction is negotiated, the price of the security that will be delivered is fixed. The Fund maintains cash and/or security positions for these commitments such that sufficient liquid assets will be available to make payments upon settlement. Securities purchased on a delayed delivery, when-issued or forward commitment basis are marked-to-market daily and begin earning interest on settlement date. Such security purchases are subject to the risk that when delivered they will be worth less than the agreed upon payment price. Losses may also arise if the counterparty does not perform under the contract. A forward purchase commitment may also be closed by entering into an offsetting commitment. If an offsetting commitment is entered into, the Fund will realize a gain or loss on investments based on the price established when the Fund entered into the commitment.
N Stripped Mortgage-Backed Securities — The Fund may invest in Interest Only (IO) and Principal Only (PO) securities, a form of stripped mortgage-backed securities, whereby the IO security receives all the interest and the PO security receives all the principal on a pool of mortgage assets. The yield to maturity on an IO security is extremely sensitive to the rate of principal payments (including prepayments) on the related underlying mortgage assets, and a rapid rate of principal payments may have a material adverse effect on the yield to maturity from these securities. If the underlying mortgages experience
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
greater than anticipated prepayments of principal, the Fund may fail to recoup its initial investment in an IO security. The market value of IO and PO securities can be unusually volatile due to changes in interest rates.
O Interim Financial Statements — The interim financial statements relating to September 30, 2021 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund’s management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.
2 Auction Preferred Shares
The Fund issued Auction Preferred Shares (APS) on July 25, 2003 in a public offering. Dividends on the APS, which accrue daily, are cumulative at rates which are reset every seven days by an auction, unless a special dividend period has been set. Series of APS are identical in all respects except for the reset dates of the dividend rates. If the APS auctions do not successfully clear, the dividend payment rate over the next period for the APS holders is set at a specified maximum applicable rate until such time as the APS auctions are successful. Auctions have not cleared since February 13, 2008 and the rate since that date has been the maximum applicable rate (see Note 3). The maximum applicable rate on the APS is 150% of the “AA” Financial Composite Commercial Paper Rate at the date of the auction. The stated spread over the reference benchmark rate is determined based on the credit rating of the APS.
The number of APS issued and outstanding at September 30, 2021 are as follows:
| | | | |
| | APS Issued and Outstanding | |
| |
Series A | | | 1,728 | |
| |
Series B | | | 1,728 | |
| |
Series C | | | 1,728 | |
| |
Series D | | | 1,728 | |
| |
Series E | | | 1,728 | |
The APS are redeemable at the option of the Fund at a redemption price equal to $25,000 per share, plus accumulated and unpaid dividends, on any dividend payment date. The APS are also subject to mandatory redemption at a redemption price equal to $25,000 per share, plus accumulated and unpaid dividends, if the Fund is in default for an extended period on its asset maintenance requirements with respect to the APS. If the dividends on the APS remain unpaid in an amount equal to two full years’ dividends, the holders of the APS as a class have the right to elect a majority of the Board of Trustees. In general, the holders of the APS and the common shares have equal voting rights of one vote per share, except that the holders of the APS, as a separate class, have the right to elect at least two members of the Board of Trustees. The APS have a liquidation preference of $25,000 per share, plus accumulated and unpaid dividends. The Fund is required to maintain certain asset coverage with respect to the APS as defined in the Fund’s By-Laws and the 1940 Act. The Fund pays an annual fee up to 0.15% of the liquidation value of the APS to broker/dealers as a service fee if the auctions are unsuccessful; otherwise, the annual fee is 0.25%.
3 Distributions to Shareholders and Income Tax Information
The Fund intends to make monthly distributions of net investment income to common shareholders, after payment of any dividends on any outstanding APS. In addition, at least annually, the Fund intends to distribute all or substantially all of its net realized capital gains. Distributions to common shareholders are recorded on the ex-dividend date. Distributions to preferred shareholders are recorded daily and are payable at the end of each dividend period. The dividend rates for the APS at September 30, 2021, and the amount of dividends accrued (including capital gains, if any) to APS shareholders, average APS dividend rates (annualized), and dividend rate ranges for the six months then ended were as follows:
| | | | | | | | | | | | | | | | |
| | APS Dividend Rates at September 30, 2021 | | | Dividends Accrued to APS Shareholders | | | Average APS Dividend Rates | | | Dividend Rate Ranges (%) | |
| | | | |
Series A | | | 0.13 | % | | $ | 24,761 | | | | 0.11 | % | | | 0.08-0.14 | |
| | | | |
Series B | | | 0.13 | | | | 25,273 | | | | 0.12 | | | | 0.08-0.14 | |
| | | | |
Series C | | | 0.11 | | | | 25,692 | | | | 0.12 | | | | 0.06-0.14 | |
| | | | |
Series D | | | 0.13 | | | | 25,707 | | | | 0.12 | | | | 0.08-0.14 | |
| | | | |
Series E | | | 0.13 | | | | 25,040 | | | | 0.12 | | | | 0.08-0.14 | |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
Beginning February 13, 2008 and consistent with the patterns in the broader market for auction-rate securities, the Fund’s APS auctions were unsuccessful in clearing due to an imbalance of sell orders over bids to buy the APS. As a result, the dividend rates of the APS were reset to the maximum applicable rates. The table above reflects such maximum dividend rate for each series as of September 30, 2021.
Distributions to shareholders are determined in accordance with income tax regulations, which may differ from U.S. GAAP. As required by U.S. GAAP, only distributions in excess of tax basis earnings and profits are reported in the financial statements as a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to paid-in capital. For tax purposes, distributions from short-term capital gains are considered to be from ordinary income.
Distributions in any year may include a return of capital component. For the six months ended September 30, 2021, the amount of distributions estimated to be a tax return of capital was approximately $28,990,000. The final determination of tax characteristics of the Fund’s distributions will occur at the end of the year, at which time it will be reported to the shareholders.
At March 31, 2021, the Fund, for federal income tax purposes, had deferred capital losses of $138,416,954 which would reduce its taxable income arising from future net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus would reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability for federal income or excise tax. The deferred capital losses are treated as arising on the first day of the Fund’s next taxable year and retain the same short-term or long-term character as when originally deferred. Of the deferred capital losses at March 31, 2021, $23,984,326 are short-term and $114,432,628 are long-term.
The cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the Fund at September 30, 2021, as determined on a federal income tax basis, were as follows:
| | | | |
| |
Aggregate cost | | $ | 2,428,745,691 | |
| |
Gross unrealized appreciation | | $ | 63,846,247 | |
| |
Gross unrealized depreciation | | | (77,792,115 | ) |
| |
Net unrealized depreciation | | $ | (13,945,868 | ) |
4 Investment Adviser Fee and Other Transactions with Affiliates
The investment adviser fee is earned by EVM as compensation for investment advisory services rendered to the Fund. The fee is computed at an annual rate of 0.75% of the Fund’s average weekly gross assets and is payable monthly. Gross assets are calculated by deducting accrued liabilities of the Fund except the principal amount of any indebtedness for money borrowed, including debt securities issued by the Fund, and the amount of any outstanding preferred shares issued by the Fund. Accrued liabilities are expenses incurred in the normal course of operations. For the six months ended September 30, 2021, the Fund’s investment adviser fee amounted to $8,804,807. The Fund may invest its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund. EVM also serves as administrator of the Fund, but receives no compensation.
Trustees and officers of the Fund who are members of EVM’s organization receive remuneration for their services to the Fund out of the investment adviser fee. Trustees of the Fund who are not affiliated with EVM may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the six months ended September 30, 2021, no significant amounts have been deferred. Certain officers and Trustees of the Fund are officers of EVM.
5 Purchases and Sales of Investments
Purchases and sales of investments, other than short-term obligations and including maturities, paydowns, principal repayments on Senior Loans and TBA transactions, for the six months ended September 30, 2021 were as follows:
| | | | | | | | |
| | Purchases | | | Sales | |
| | |
Investments (non-U.S. Government) | | $ | 348,476,119 | | | $ | 411,332,036 | |
| | |
U.S. Government and Agency Securities | | | 909,522,323 | | | | 912,798,302 | |
| | |
| | $ | 1,257,998,442 | | | $ | 1,324,130,338 | |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
6 Common Shares of Beneficial Interest
The Fund may issue common shares pursuant to its dividend reinvestment plan. There were no common shares issued by the Fund for the six months ended September 30, 2021 and the year ended March 31, 2021.
In November 2013, the Board of Trustees initially approved a share repurchase program for the Fund. Pursuant to the reauthorization of the share repurchase program by the Board of Trustees in March 2019, the Fund is authorized to repurchase up to 10% of its common shares outstanding as of the last day of the prior calendar year at market prices when shares are trading at a discount to net asset value. The share repurchase program does not obligate the Fund to purchase a specific amount of shares. There were no repurchases of common shares by the Fund for the six months ended September 30, 2021 and the year ended March 31, 2021.
7 Restricted Securities
At September 30, 2021, the Fund owned the following securities (representing 0.1% of net assets applicable to common shares) which were restricted as to public resale and not registered under the Securities Act of 1933 (excluding Rule 144A securities). The Fund has various registration rights (exercisable under a variety of circumstances) with respect to these securities. The value of these securities is determined based on valuations provided by brokers when available, or if not available, they are valued at fair value using methods determined in good faith by or at the direction of the Trustees.
| | | | | | | | | | | | | | | | |
Description | | Date of Acquisition | | | Shares | | | Cost | | | Value | |
| | | | |
Common Stocks | | | | | | | | | | | | | | | | |
| | | | |
Nine Point Energy Holdings, Inc. | | | 7/15/14 | | | | 29,787 | | | $ | 1,370,480 | | | $ | 0 | |
| | | | |
Skillsoft Corp. | | | 6/23/21 | | | | 143,062 | | | | 1,430,620 | | | | 1,660,979 | |
| | | | |
Convertible Preferred Stocks | | | | | | | | | | | | | | | | |
| | | | |
Nine Point Energy Holdings, Inc., Series A, 12.00% | | | 5/26/17 | | | | 555 | | | | 555,000 | | | | 0 | |
| | | | |
Total Restricted Securities | | | | | | | | | | $ | 3,356,100 | | | $ | 1,660,979 | |
8 Financial Instruments
The Fund may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. These financial instruments may include forward foreign currency exchange contracts, financial futures contracts and swap contracts and may involve, to a varying degree, elements of risk in excess of the amounts recognized for financial statement purposes. The notional or contractual amounts of these instruments represent the investment the Fund has in particular classes of financial instruments and do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. A summary of obligations under these financial instruments at September 30, 2021 is included in the Portfolio of Investments. At September 30, 2021, the Fund had sufficient cash and/or securities to cover commitments under these contracts.
In the normal course of pursuing its investment objectives, the Fund is subject to the following risks:
Credit Risk: The Fund enters into credit default swap contracts to enhance total return and/or as a substitute for the purchase of securities.
Foreign Exchange Risk: The Fund holds foreign currency denominated investments. The value of these investments and related receivables and payables may change due to future changes in foreign currency exchange rates. To hedge against this risk, the Fund enters into forward foreign currency exchange contracts.
Interest Rate Risk: The Fund utilizes various interest rate derivatives including futures contracts and interest rate swaps to manage the duration of its portfolio and to hedge against fluctuations in securities prices due to interest rates.
The Fund enters into over-the-counter (OTC) derivatives that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Fund’s net assets below a certain level over a certain period of time, which would trigger a payment by the Fund for those derivatives in a liability position. At September 30, 2021, the fair value of derivatives with credit-related contingent features in a net liability position was $283,417. The aggregate fair value of assets pledged as collateral by the Fund for such liability was $169,989 at September 30, 2021.
The OTC derivatives in which the Fund invests are subject to the risk that the counterparty to the contract fails to perform its obligations under the contract. To mitigate this risk, the Fund has entered into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
Agreement”) or similar agreement with substantially all its derivative counterparties. An ISDA Master Agreement is a bilateral agreement between the Fund and a counterparty that governs certain OTC derivatives and typically contains, among other things, set-off provisions in the event of a default and/or termination event as defined under the relevant ISDA Master Agreement. Under an ISDA Master Agreement, the Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy or insolvency. Certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event the Fund’s net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Fund of any net liability owed to it.
The collateral requirements for derivatives traded under an ISDA Master Agreement are governed by a Credit Support Annex to the ISDA Master Agreement. Collateral requirements are determined at the close of business each day and are typically based on changes in market values for each transaction under an ISDA Master Agreement and netted into one amount for such agreement. Generally, the amount of collateral due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of the Fund and/or counterparty is held in segregated accounts by the Fund’s custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as deposits for derivatives collateral and, in the case of cash pledged by a counterparty for the benefit of the Fund, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Fund as collateral, if any, are identified as such in the Portfolio of Investments. The carrying amount of the liability for cash collateral due to brokers at September 30, 2021 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 11) at September 30, 2021.
The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at September 30, 2021 was as follows:
| | | | | | | | | | | | | | | | |
| | Fair Value | |
Statement of Assets and Liabilities Caption | | Credit | | | Foreign Exchange | | | Interest Rate | | | Total | |
| | | | |
Accumulated loss | | $ | 35,516 | * | | $ | 399,924 | * | | $ | 2,132,670 | * | | $ | 2,568,110 | |
| | | | |
Receivable for open forward foreign currency exchange contracts | | | — | | | | 3,748,901 | | | | — | | | | 3,748,901 | |
| | | | |
Total Asset Derivatives | | $ | 35,516 | | | $ | 4,148,825 | | | $ | 2,132,670 | | | $ | 6,317,011 | |
| | | | |
Derivatives not subject to master netting or similar agreements | | $ | 35,516 | | | $ | 399,924 | | | $ | 2,132,670 | | | $ | 2,568,110 | |
| | | | |
Total Asset Derivatives subject to master netting or similar agreements | | $ | — | | | $ | 3,748,901 | | | $ | — | | | $ | 3,748,901 | |
| | | | |
Accumulated loss | | $ | (248,808 | )* | | $ | — | | | $ | (993,004 | )* | | $ | (1,241,812 | ) |
| | | | |
Payable for open forward foreign currency exchange contracts | | | — | | | | (61,146 | ) | | | — | | | | (61,146 | ) |
| | | | |
Payable/receivable for open swap contracts; Upfront receipts on open non-centrally cleared swap contracts | | | (222,271 | ) | | | — | | | | — | | | | (222,271 | ) |
| | | | |
Total Liability Derivatives | | $ | (471,079 | ) | | $ | (61,146 | ) | | $ | (993,004 | ) | | $ | (1,525,229 | ) |
| | | | |
Derivatives not subject to master netting or similar agreements | | $ | (248,808 | ) | | $ | — | | | $ | (993,004 | ) | | $ | (1,241,812 | ) |
| | | | |
Total Liability Derivatives subject to master netting or similar agreements | | $ | (222,271 | ) | | $ | (61,146 | ) | | $ | — | | | $ | (283,417 | ) |
* | For futures contracts and centrally cleared derivatives, amount represents value as shown in the Portfolio of Investments. Only the current day’s variation margin on open futures contracts and centrally cleared derivatives is reported within the Statement of Assets and Liabilities as Receivable or Payable for variation margin on open financial futures contracts and centrally cleared derivatives, as applicable. |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
The Fund’s derivative assets and liabilities at fair value by risk, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following tables present the Fund’s derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement and net of the related collateral received by the Fund for such assets and pledged by the Fund for such liabilities as of September 30, 2021.
| | | | | | | | | | | | | | | | | | | | | | | | |
Counterparty | | Derivative Assets Subject to Master Netting Agreement | | | Derivatives Available for Offset | | | Non-cash Collateral Received(a) | | | Cash Collateral Received(a) | | | Net Amount of Derivative Assets(b) | | | Total Cash Collateral Received | |
| | | | | | |
Bank of America, N.A. | | $ | 171 | | | $ | (171 | ) | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| | | | | | |
HSBC Bank USA, N.A. | | | 857,109 | | | | — | | | | (835,738 | ) | | | — | | | | 21,371 | | | | — | |
| | | | | | |
JPMorgan Chase Bank, N.A. | | | 876,227 | | | | (23,068 | ) | | | — | | | | (800,000 | ) | | | 53,159 | | | | 800,000 | |
| | | | | | |
Standard Chartered Bank | | | 803,021 | | | | — | | | | — | | | | (680,000 | ) | | | 123,021 | | | | 680,000 | |
| | | | | | |
State Street Bank and Trust Company | | | 1,212,373 | | | | (15,487 | ) | | | (1,182,030 | ) | | | — | | | | 14,856 | | | | — | |
| | | | | | |
| | $ | 3,748,901 | | | $ | (38,726 | ) | | $ | (2,017,768 | ) | | $ | (1,480,000 | ) | | $ | 212,407 | | | $ | 1,480,000 | |
| | | | | | |
Counterparty | | Derivative Liabilities Subject to Master Netting Agreement | | | Derivatives Available for Offset | | | Non-cash Collateral Pledged(a) | | | Cash Collateral Pledged(a) | | | Net Amount of Derivative Liabilities(c) | | | Total Cash Collateral Pledged | |
| | | | | | |
Bank of America, N.A. | | $ | (6,295 | ) | | $ | 171 | | | $ | — | | | $ | — | | | $ | (6,124 | ) | | $ | — | |
| | | | | | |
Citibank, N.A. | | | (183,442 | ) | | | — | | | | 169,989 | | | | — | | | | (13,453 | ) | | | — | |
| | | | | | |
Deutsche Bank AG | | | (38,829 | ) | | | — | | | | — | | | | — | | | | (38,829 | ) | | | — | |
| | | | | | |
Goldman Sachs International | | | (16,296 | ) | | | — | | | | — | | | | — | | | | (16,296 | ) | | | — | |
| | | | | | |
JPMorgan Chase Bank, N.A. | | | (23,068 | ) | | | 23,068 | | | | — | | | | — | | | | — | | | | — | |
| | | | | | |
State Street Bank and Trust Company | | | (15,487 | ) | | | 15,487 | | | | — | | | | — | | | | — | | | | — | |
| | | | | | |
| | $ | (283,417 | ) | | $ | 38,726 | | | $ | 169,989 | | | $ | — | | | $ | (74,702 | ) | | $ | — | |
| |
Total Deposits for derivatives collateral — OTC derivatives | | | $ | 1,480,000 | |
(a) | In some instances, the total collateral received and/or pledged may be more than the amount shown due to overcollateralization. |
(b) | Net amount represents the net amount due from the counterparty in the event of default. |
(c) | Net amount represents the net amount payable to the counterparty in the event of default. |
The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations by risk exposure for the six months ended September 30, 2021 was as follows:
| | | | | | | | | | | | | | | | |
Statement of Operations Caption | | Credit | | | Foreign Exchange | | | Interest Rate | | | Total | |
| | | | |
Net realized gain (loss) — | | | | | | | | | | | | | | | | |
| | | | |
Financial futures contracts | | $ | — | | | $ | — | | | $ | (2,006,866 | ) | | $ | (2,006,866 | ) |
| | | | |
Swap contracts | | | 276,460 | | | | — | | | | 96,891 | | | | 373,351 | |
| | | | |
Forward foreign currency exchange contracts | | | — | | | | 4,330,594 | | | | — | | | | 4,330,594 | |
| | | | |
Total | | $ | 276,460 | | | $ | 4,330,594 | | | $ | (1,909,975 | ) | | $ | 2,697,079 | |
| | | | |
Change in unrealized appreciation (depreciation) — | | | | | | | | | | | | | | | | |
| | | | |
Financial futures contracts | | $ | — | | | $ | — | | | $ | (462,688 | ) | | $ | (462,688 | ) |
| | | | |
Swap contracts | | | (24,227 | ) | | | — | | | | (894,055 | ) | | | (918,282 | ) |
| | | | |
Forward foreign currency exchange contracts | | | — | | | | 704,031 | | | | — | | | | 704,031 | |
| | | | |
Total | | $ | (24,227 | ) | | $ | 704,031 | | | $ | (1,356,743 | ) | | $ | (676,939 | ) |
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
The average notional cost of futures contracts and average notional amounts of other derivative contracts outstanding during the six months ended September 30, 2021, which are indicative of the volume of these derivative types, were approximately as follows:
| | | | | | | | | | | | | | |
Futures Contracts — Long | | | Futures Contracts — Short | | | Forward Foreign Currency Exchange Contracts* | | | Swap Contracts | |
| | | |
| $14,287,000 | | | $ | 81,045,000 | | | $ | 235,446,000 | | | $ | 39,643,000 | |
* | The average notional amount of forward foreign currency exchange contracts is based on the absolute value of notional amounts of currency purchased and currency sold. |
9 Credit Agreement
The Fund has entered into a Credit Agreement, as amended (the Agreement) with major financial institutions to borrow up to $850 million. Borrowings under the Agreement are secured by the assets of the Fund. Interest is charged at a rate above the London Interbank Offered Rate (LIBOR) and is payable monthly. Under the terms of the Agreement, in effect through December 17, 2021, the Fund pays a facility fee of 0.25% per annum on the borrowing limit. In connection with the renewal of the Agreement on December 18, 2018, the Fund paid an upfront fee of $1,530,000, which is being amortized to interest expense over a period of three years through December 2021. The unamortized balance at September 30, 2021 is approximately $114,000 and is included in prepaid upfront fees on notes payable on the Statement of Assets and Liabilities. The Fund is required to maintain certain net asset levels during the term of the Agreement. At September 30, 2021, the Fund had borrowings outstanding under the Agreement of $510,000,000 at an interest rate of 0.97%. Based on the short-term nature of the borrowings under the Agreement and the variable interest rate, the carrying amount of the borrowings at September 30, 2021 approximated its fair value. If measured at fair value, borrowings under the Agreement would have been considered as Level 2 in the fair value hierarchy (see Note 11) at September 30, 2021. Facility fees for the six months ended September 30, 2021 totaled $1,080,209 and are included in interest expense and fees on the Statement of Operations. For the six months ended September 30, 2021, the average borrowings under the Agreement and the average annual interest rate (excluding fees) were $551,885,246 and 1.01%, respectively.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
10 Investments in Affiliated Issuers and Funds
The Fund invested in issuers that may be deemed to be affiliated with Morgan Stanley, the parent company of EVM effective March 1, 2021. At September 30, 2021, the value of the Fund’s investment in affiliated issuers and funds was $49,363,783, which represents 3.2% of the Fund’s net assets applicable to common shares. Transactions in affiliated issuers and funds by the Fund for the six months ended September 30, 2021 were as follows:
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Name | | Value, beginning of period | | | Purchases | | | Sales proceeds | | | Net realized gain (loss) | | | Change in unrealized appreciation (depreciation) | | | Value, end of period | | | Interest/ Dividend income | | | Principal amount/ Units, end of period | |
|
Commercial Mortgage-Backed Securities | |
| | | | | | | | |
Morgan Stanley Bank of America Merrill Lynch Trust: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | |
Series 2015-C23, Class D, 4.282%, 7/15/50 | | $ | 1,973,960 | | | $ | — | | | $ | — | | | $ | — | | | $ | 26,044 | | | $ | 2,022,066 | | | $ | 64,652 | | | $ | 2,000,000 | |
| | | | | | | | |
Series 2016-C29, Class D, 3.00%, 5/15/49 | | | 3,034,696 | | | | — | | | | — | | | | — | | | | 92,241 | | | | 3,132,772 | | | | 59,495 | | | | 3,577,365 | |
| | | | | | | | |
Series 2016-C32, Class D, 3.396%, 12/15/49 | | | 1,286,773 | | | | — | | | | — | | | | — | | | | 39,810 | | | | 1,329,998 | | | | 30,583 | | | | 1,600,000 | |
| | | | | | | | |
Morgan Stanley Capital I Trust: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | |
Series 2016-UBS12, Class D, 3.312%, 12/15/49 | | | 2,560,201 | | | | — | | | | — | | | | — | | | | (25,541 | ) | | | 2,596,166 | | | | 135,838 | | | | 4,488,667 | |
| | | | | | | | |
Series 2017-CLS, Class A, 0.784%, (1 mo. USD LIBOR + 0.70%), 11/15/34 | | | 2,001,683 | | | | — | | | | — | | | | — | | | | (1,049 | ) | | | 2,000,634 | | | | 8,087 | | | | 2,000,000 | |
| | | | | | | | |
Series 2019-BPR, Class C, 3.134%, (1 mo. USD LIBOR + 3.05%), 5/15/36 | | | 1,587,708 | | | | — | | | | — | | | | — | | | | 76,006 | | | | 1,663,714 | | | | 29,577 | | | | 1,845,000 | |
| | | | | | | | |
Short-Term Investments | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | |
Eaton Vance Cash Reserves Fund, LLC | | | 16,659,394 | | | | 707,482,858 | | | | (687,517,689 | ) | | | (6,130 | ) | | | — | | | | 36,618,433 | | | | 21,258 | | | | 36,618,433 | |
| | | | | | | |
| | | | | | | | | | $ | (6,130 | ) | | $ | 207,511 | | | $ | 49,363,783 | | | $ | 349,490 | | | | | |
11 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.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
At September 30, 2021, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:
| | | | | | | | | | | | | | | | |
Asset Description | | Level 1 | | | Level 2 | | | Level 3* | | | Total | |
| | | | |
Asset-Backed Securities | | $ | — | | | $ | 112,139,094 | | | $ | — | | | $ | 112,139,094 | |
| | | | |
Closed-End Funds | | | 26,700,664 | | | | — | | | | — | | | | 26,700,664 | |
| | | | |
Collateralized Mortgage Obligations | | | — | | | | 135,239,240 | | | | — | | | | 135,239,240 | |
| | | | |
Commercial Mortgage-Backed Securities | | | — | | | | 79,625,983 | | | | — | | | | 79,625,983 | |
| | | | |
U.S. Government Agency Mortgage-Backed Securities | | | — | | | | 386,657,136 | | | | — | | | | 386,657,136 | |
| | | | |
Common Stocks | | | 1,775,238 | | | | 5,790,734 | | | | 3,230,286 | | | | 10,796,258 | |
| | | | |
Convertible Bonds | | | — | | | | 981,670 | | | | — | | | | 981,670 | |
| | | | |
Convertible Preferred Stocks | | | — | | | | 2,595,546 | | | | 0 | | | | 2,595,546 | |
| | | | |
Corporate Bonds | | | — | | | | 775,770,562 | | | | — | | | | 775,770,562 | |
| | | | |
Exchange-Traded Funds | | | 577,421 | | | | — | | | | — | | | | 577,421 | |
| | | | |
Preferred Stocks | | | 2,049,756 | | | | 380,132 | | | | 0 | | | | 2,429,888 | |
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Senior Floating-Rate Loans (Less Unfunded Loan Commitments) | | | — | | | | 757,449,664 | | | | 281,119 | | | | 757,730,783 | |
| | | | |
Sovereign Government Bonds | | | — | | | | 67,759,972 | | | | — | | | | 67,759,972 | |
| | | | |
Sovereign Loans | | | — | | | | 12,438,247 | | | | — | | | | 12,438,247 | |
| | | | |
Warrants | | | — | | | | 911,681 | | | | 78,529 | | | | 990,210 | |
| | | | |
Miscellaneous | | | — | | | | 23,660 | | | | 0 | | | | 23,660 | |
| | | | |
Short-Term Investments — | | | | | | | | | | | | | | | | |
| | | | |
Affiliated Fund | | | — | | | | 36,618,433 | | | | — | | | | 36,618,433 | |
| | | | |
U.S. Treasury Obligations | | | — | | | | 499,972 | | | | — | | | | 499,972 | |
| | | | |
Total Investments | | $ | 31,103,079 | | | $ | 2,374,881,726 | | | $ | 3,589,934 | | | $ | 2,409,574,739 | |
| | | | |
Forward Foreign Currency Exchange Contracts | | $ | — | | | $ | 4,148,825 | | | $ | — | | | $ | 4,148,825 | |
| | | | |
Futures Contracts | | | 1,502,730 | | | | — | | | | — | | | | 1,502,730 | |
| | | | |
Swap Contracts | | | — | | | | 665,456 | | | | — | | | | 665,456 | |
| | | | |
Total | | $ | 32,605,809 | | | $ | 2,379,696,007 | | | $ | 3,589,934 | | | $ | 2,415,891,750 | |
| | | | |
Liability Description | | | | | | | | | | | | | | | | |
| | | | |
Forward Foreign Currency Exchange Contracts | | $ | — | | | $ | (61,146 | ) | | $ | — | | | $ | (61,146 | ) |
| | | | |
Futures Contracts | | | (217,766 | ) | | | — | | | | — | | | | (217,766 | ) |
| | | | |
Swap Contracts | | | — | | | | (1,246,317 | ) | | | — | | | | (1,246,317 | ) |
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Total | | $ | (217,766 | ) | | $ | (1,307,463 | ) | | $ | — | | | $ | (1,525,229 | ) |
* | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |
Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended September 30, 2021 is not presented.
12 Risks and Uncertainties
Risks Associated with Foreign Investments
Investing in securities issued by companies or entities whose principal business activities are outside the United States may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Certain foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitation on the removal
of funds or other assets of the Fund, political or financial instability or diplomatic and other developments which could affect such investments. Foreign securities markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker/dealers and issuers than in the United States.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Notes to Financial Statements (Unaudited) — continued
LIBOR Transition Risk
Certain instruments held by the Fund may pay an interest rate based on the London Interbank Offered Rate (“LIBOR”), which is the average offered rate for various maturities of short-term loans between certain major international banks. LIBOR is used throughout global banking and financial industries to determine interest rates for a variety of financial instruments (such as debt instruments and derivatives) and borrowing arrangements. The ICE Benchmark Administration Limited, the administrator of LIBOR, is expected to cease publishing certain LIBOR settings on December 31, 2021, and the remaining LIBOR settings on June 30, 2023. Although the transition process away from LIBOR has become increasingly well-defined in advance of the anticipated discontinuation, the impact on certain debt securities, derivatives and other financial instruments that utilize LIBOR remains uncertain. The phase-out of LIBOR may result in, among other things, increased volatility or illiquidity in markets for instruments based on LIBOR and changes in the value of such instruments.
Pandemic Risk
An outbreak of respiratory disease caused by a novel coronavirus was first detected in China in late 2019 and subsequently spread internationally. This coronavirus has resulted in closing borders, enhanced health screenings, changes to healthcare service preparation and delivery, quarantines, cancellations, disruptions to supply chains and customer activity, as well as general concern and uncertainty. Health crises caused by outbreaks, such as the coronavirus outbreak, may exacerbate other pre-existing political, social and economic risks and disrupt normal market conditions and operations. The impact of this outbreak has negatively affected the worldwide economy, the economies of individual countries, individual companies, and the market in general, and may continue to do so in significant and unforeseen ways, as may other epidemics and pandemics that may arise in the future. Any such impact could adversely affect the Fund’s performance, or the performance of the securities in which the Fund invests.
13 Additional Information
On August 27, 2020, the Fund’s Board of Trustees (the “Board”) received a shareholder demand letter from counsel to Saba Capital Master Fund, Ltd., a hedge fund (“Saba”). Saba also filed claims against the Fund in a lawsuit in Suffolk County Superior Court in Massachusetts asserting breach of contract and fiduciary duty by the Fund and certain of its affiliates, the Fund’s adviser, and the Board, following the recent implementation by the Fund of by-law amendments that (i) require trustee nominees in contested elections to obtain affirmative votes of a majority of eligible shares in order to be elected and (ii) establish certain requirements related to shares obtained in “control share” acquisitions. With respect to the Fund, Saba seeks rescission of these bylaw provisions and certain related relief. On March 31, 2021, the court allowed in part and denied in part a motion to dismiss Saba’s claims.
Eaton Vance
Limited Duration Income Fund
September 30, 2021
Officers and Trustees
Officers
Eric A. Stein
President
Deidre E. Walsh
Vice President and Chief Legal Officer
James F. Kirchner
Treasurer
Kimberly M. Roessiger
Secretary
Richard F. Froio
Chief Compliance Officer
Trustees
George J. Gorman
Chairperson
Thomas E. Faust Jr.*
Mark R. Fetting
Cynthia E. Frost
Valerie A. Mosley
William H. Park
Helen Frame Peters
Keith Quinton
Marcus L. Smith
Susan J. Sutherland
Scott E. Wennerholm
Eaton Vance Funds
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Privacy Notice | | April 2021 |
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FACTS | | WHAT DOES EATON VANCE DO WITH YOUR PERSONAL INFORMATION? |
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Why? | | Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do. |
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What? | | The types of personal information we collect and share depend on the product or service you have with us. This information can include: ∎ Social Security number and income ∎ investment experience and risk tolerance ∎ checking account number and wire transfer instructions |
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How? | | All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Eaton Vance chooses to share; and whether you can limit this sharing. |
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Reasons we can share your personal information | | Does Eaton Vance share? | | Can you limit this sharing? |
For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus | | Yes | | No |
For our marketing purposes — to offer our products and services to you | | Yes | | No |
For joint marketing with other financial companies | | No | | We don’t share |
For our investment management affiliates’ everyday business purposes — information about your transactions, experiences, and creditworthiness | | Yes | | Yes |
For our affiliates’ everyday business purposes — information about your transactions and experiences | | Yes | | No |
For our affiliates’ everyday business purposes — information about your creditworthiness | | No | | We don’t share |
For our investment management affiliates to market to you | | Yes | | Yes |
For our affiliates to market to you | | No | | We don’t share |
For nonaffiliates to market to you | | No | | We don’t share |
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To limit our sharing | | Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing. |
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Questions? | | Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com |
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Eaton Vance Funds
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Privacy Notice — continued | | April 2021 |
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Who we are |
Who is providing this notice? | | Eaton Vance Management, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd., Eaton Vance Global Advisors Limited, Eaton Vance Management’s Real Estate Investment Group, Boston Management and Research, Calvert Research and Management, Eaton Vance and Calvert Fund Families and our investment advisory affiliates (“Eaton Vance”) (see Investment Management Affiliates definition below) |
What we do |
How does Eaton Vance protect my personal information? | | To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information. |
How does Eaton Vance collect my personal information? | | We collect your personal information, for example, when you ∎ open an account or make deposits or withdrawals from your account ∎ buy securities from us or make a wire transfer ∎ give us your contact information We also collect your personal information from others, such as credit bureaus, affiliates, or other companies. |
Why can’t I limit all sharing? | | Federal law gives you the right to limit only ∎ sharing for affiliates’ everyday business purposes — information about your creditworthiness ∎ affiliates from using your information to market to you ∎ sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. |
Definitions |
Investment Management Affiliates | | Eaton Vance Investment Management Affiliates include registered investment advisers, registered broker-dealers, and registered and unregistered funds. Investment Management Affiliates does not include entities associated with Morgan Stanley Wealth Management, such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
Affiliates | | Companies related by common ownership or control. They can be financial and nonfinancial companies. ∎ Our affiliates include companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. |
Nonaffiliates | | Companies not related by common ownership or control. They can be financial and nonfinancial companies. ∎ Eaton Vance does not share with nonaffiliates so they can market to you. |
Joint marketing | | A formal agreement between nonaffiliated financial companies that together market financial products or services to you. ∎ Eaton Vance doesn’t jointly market. |
Other important information |
Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information. California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us. |
Eaton Vance Funds
IMPORTANT NOTICES
Delivery of Shareholder Documents. The Securities and Exchange Commission (SEC) permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called “householding” and it helps eliminate duplicate mailings to shareholders. American Stock Transfer & Trust Company, LLC (“AST”), the closed-end funds transfer agent, or your financial intermediary, may household the mailing of your documents indefinitely unless you instruct AST, or your financial intermediary, otherwise. If you would prefer that your Eaton Vance documents not be householded, please contact AST or your financial intermediary. Your instructions that householding not apply to delivery of your Eaton Vance documents will typically be effective within 30 days of receipt by AST or your financial intermediary.
Portfolio Holdings. Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) files a schedule of portfolio holdings on Part F to Form N-PORT with the SEC. Certain information filed on Form N-PORT may be viewed on the Eaton Vance website at www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC’s website at www.sec.gov.
Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds’ and Portfolios’ Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge, upon request, by calling 1-800-262-1122 and by accessing the SEC’s website at www.sec.gov.
Share Repurchase Program. The Fund’s Board of Trustees has approved a share repurchase program authorizing the Fund to repurchase up to 10% of its common shares outstanding as of the last day of the prior calendar year in open-market transactions at a discount to net asset value. The repurchase program does not obligate the Fund to purchase a specific amount of shares. The Fund’s repurchase activity, including the number of shares purchased, average price and average discount to net asset value, is disclosed in the Fund’s annual and semi-annual reports to shareholders.
Additional Notice to Shareholders. If applicable, a Fund may also redeem or purchase its outstanding preferred shares in order to maintain compliance with regulatory requirements, borrowing or rating agency requirements or for other purposes as it deems appropriate or necessary.
Closed-End Fund Information. Eaton Vance closed-end funds make fund performance data and certain information about portfolio characteristics available on the Eaton Vance website shortly after the end of each month. Other information about the funds is available on the website. The funds’ net asset value per share is readily accessible on the Eaton Vance website. Portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following the end of the month. This information is available at www.eatonvance.com on the fund information pages under “Individual Investors — Closed-End Funds”.
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Investment Adviser and Administrator
Eaton Vance Management
Two International Place
Boston, MA 02110
Custodian
State Street Bank and Trust Company
State Street Financial Center, One Lincoln Street
Boston, MA 02111
Transfer Agent
American Stock Transfer & Trust Company, LLC
6201 15th Avenue
Brooklyn, NY 11219
Fund Offices
Two International Place
Boston, MA 02110
7731 9.30.21
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 8. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
No such purchases this period.
Item 10. Submission of Matters to a Vote of Security Holders
No material changes.
Item 11. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
No activity to report for the registrant’s most recent fiscal year end.
Item 13. Exhibits
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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Eaton Vance Limited Duration Income Fund |
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By: | | /s/ Eric A. Stein |
| | Eric A. Stein |
| | President |
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Date: | | November 23, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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By: | | /s/ James F. Kirchner |
| | James F. Kirchner |
| | Treasurer |
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Date: | | November 23, 2021 |
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By: | | /s/ Eric A. Stein |
| | Eric A. Stein |
| | President |
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Date: | | November 23, 2021 |