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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)
Maureen A. Gemma
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, 2020
Date of Reporting Period
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Item 1. | Reports to Stockholders |
Table of Contents
Eaton Vance
Limited Duration Income Fund (EVV)
Semiannual Report
September 30, 2020
Important Note. Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semi-annual shareholder reports will no longer be sent by mail unless you specifically request paper copies of the reports. Instead, the reports will be made available on the Fund’s website (funds.eatonvance.com/closed-end-fund-and-term-trust-documents.php), and you will be notified by mail each time a report is posted and provided with a website address to access the report.
If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. If you hold shares at the Fund’s transfer agent, American Stock Transfer & Trust Company, LLC (“AST”), you may elect to receive shareholder reports and other communications from the Fund electronically by contacting AST. If you own your shares through a financial intermediary (such as a broker-dealer or bank), you must contact your financial intermediary to sign up.
You may elect to receive all future Fund shareholder reports in paper free of charge. If you hold shares at AST, you can inform AST that you wish to continue receiving paper copies of your shareholder reports by calling 1-866-439-6787. If you own these shares through a financial intermediary, you must contact your financial intermediary or follow instructions included with this disclosure, if applicable, to elect to continue to receive paper copies of your shareholder reports. Your election to receive reports in paper will apply to all funds held with AST or to all funds held through your financial intermediary, as applicable.
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Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain regulatory changes 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.
Table of Contents
Semiannual Report September 30, 2020
Eaton Vance
Limited Duration Income Fund
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Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio Managers Payson F. Swaffield, CFA, Catherine C. McDermott, Andrew Szczurowski, CFA, Eric A. Stein, CFA and Kelley G. Baccei
% Average Annual Total Returns | Inception Date | Six Months | One Year | Five Years | Ten Years | |||||||||||||||
Fund at NAV | 05/30/2003 | 18.28 | % | 1.00 | % | 5.64 | % | 5.89 | % | |||||||||||
Fund at Market Price | — | 12.84 | 0.18 | 5.87 | 4.39 | |||||||||||||||
| ||||||||||||||||||||
Blended Index | — | 9.65 | % | 2.40 | % | 4.47 | % | 4.45 | % | |||||||||||
% Premium/Discount to NAV3 | ||||||||||||||||||||
–14.25 | % | |||||||||||||||||||
Distributions4 | ||||||||||||||||||||
Total Distributions per share for the period | $ | 0.600 | ||||||||||||||||||
Distribution Rate at NAV | 9.10 | % | ||||||||||||||||||
Distribution Rate at Market Price | 10.61 | % | ||||||||||||||||||
% Total Leverage5 | ||||||||||||||||||||
Auction Preferred Shares (APS) | 9.19 | % | ||||||||||||||||||
Borrowings | 25.65 |
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.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Asset Allocation (% of total investments)6
MBS refers to Mortgage-Backed Securities
See Endnotes and Additional Disclosures in this report.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Endnotes and Additional Disclosures
1 | 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 | Asset Allocation as a percentage of the Fund’s net assets amounted to 154.8%. |
Fund profile subject to change due to active management. |
Important Notice to Shareholders
Effective November 1, 2020, the Fund is managed by Catherine C. McDermott, Andrew Szczurowski, Eric A. Stein and Kelley G. Baccei.
On August 13, 2020, the Board of Trustees of the Fund amended and restated the Fund’s By-Laws (the “Amended and Restated By-Laws”). The Amended and Restated By-Laws include provisions (the “Control Share Provisions”) pursuant to which, in summary, a shareholder who obtains beneficial ownership of Fund shares in a “Control Share Acquisition” may exercise voting rights with respect to such shares only to the extent the authorization of such voting rights is approved by other shareholders of the Fund. The Control Share Provisions are primarily intended to protect the interests of the Fund and its shareholders by limiting the risk that the Fund will become subject to undue influence by opportunistic hedge funds or other activist investors. The Control Share Provisions do not eliminate voting rights for shares acquired in Control Share Acquisitions, but rather, they entrust the Fund’s other “non-interested” shareholders with determining whether to approve the authorization of voting rights for such shares. Subject to various conditions and exceptions, the Amended and Restated By-Laws define a “Control Share Acquisition” to include an acquisition of Fund shares that, but for the Control Share Provisions, would give the beneficial owner, upon the acquisition of such shares, the ability to exercise voting power in the election of Fund Trustees in any of the following ranges: (i) one-tenth or more, but less than one-fifth of all voting power; (ii) one-fifth or more, but less than one-third of all voting power; (iii) one-third or more, but less than a majority of all voting power; or (iv) a majority or more of all voting power. Share acquisitions prior to August 13, 2020 are excluded from the definition of Control Share Acquisition. This discussion is only a high-level summary of certain aspects of the Control Share Provisions, and is qualified in its entirety by reference to the full Amended and Restated By-Laws. The Amended and Restated By-Laws were filed by the Fund on Form 8-K with the Securities and Exchange Commission and are available at sec.gov.
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Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited)
Senior Floating-Rate Loans — 49.8%(1) |
| |||||||||||
Borrower/Tranche 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%), Maturing February 22, 2027 | EUR | 204 | $ | 181,849 | ||||||||
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing February 26, 2027 | EUR | 796 | 709,212 | |||||||||
AI Convoy (Luxembourg) S.a.r.l. | ||||||||||||
Term Loan, 3.75%, (6 mo. EURIBOR + 3.75%), Maturing January 17, 2027 | EUR | 1,000 | 1,155,229 | |||||||||
Term Loan, 4.65%, (6 mo. USD LIBOR + 3.50%), Maturing January 17, 2027 | 746 | 740,653 | ||||||||||
Dynasty Acquisition Co., Inc. | ||||||||||||
Term Loan, 3.72%, (3 mo. USD LIBOR + 3.50%), Maturing April 6, 2026 | 355 | 315,217 | ||||||||||
Term Loan, 3.72%, (3 mo. USD LIBOR + 3.50%), Maturing April 6, 2026 | 660 | 586,303 | ||||||||||
IAP Worldwide Services, Inc. | ||||||||||||
Revolving Loan, 1.38%, (3 mo. USD LIBOR + 5.50%), Maturing July 19, 2021(2) | 172 | 169,042 | ||||||||||
Term Loan - Second Lien, 8.00%, (3 mo. USD LIBOR + 6.50%, Floor 1.50%), Maturing July 18, 2021(3) | 223 | 176,716 | ||||||||||
Spirit Aerosystems, Inc. | ||||||||||||
Term Loan, Maturing January 30, 2025(4) | 400 | 398,000 | ||||||||||
TransDigm, Inc. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing August 22, 2024 | 1,367 | 1,296,642 | ||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing December 9, 2025 | 5,502 | 5,219,921 | ||||||||||
WP CPP Holdings, LLC | ||||||||||||
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing April 30, 2025 | 6,619 | 5,841,396 | ||||||||||
$ | 16,790,180 | |||||||||||
Air Transport — 0.2% | ||||||||||||
Delta Air Lines, Inc. | ||||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing October 20, 2027 | 1,950 | $ | 1,969,196 | |||||||||
JetBlue Airways Corporation | ||||||||||||
Term Loan, 6.25%, (3 mo. USD LIBOR + 5.25%, Floor 1.00%), Maturing June 17, 2024 | 395 | 392,729 | ||||||||||
Mileage Plus Holdings, LLC | ||||||||||||
Term Loan, 6.25%, (3 mo. USD LIBOR + 5.25%, Floor 1.00%), Maturing June 25, 2027 | 750 | 763,652 | ||||||||||
$ | 3,125,577 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Automotive — 1.1% | ||||||||||||
Adient US, LLC | ||||||||||||
Term Loan, 4.42%, (USD LIBOR + 4.25%), Maturing May 6, 2024(5) | 716 | $ | 710,568 | |||||||||
American Axle and Manufacturing, Inc. | ||||||||||||
Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), Maturing April 6, 2024 | 2,636 | 2,538,157 | ||||||||||
Autokiniton US Holdings, Inc. | ||||||||||||
Term Loan, 6.52%, (1 mo. USD LIBOR + 6.38%), Maturing May 22, 2025 | 831 | 805,949 | ||||||||||
Bright Bidco B.V. | ||||||||||||
Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing June 30, 2024 | 1,743 | 847,233 | ||||||||||
Chassix, Inc. | ||||||||||||
Term Loan, 6.50%, (USD LIBOR + 5.50%, Floor 1.00%), Maturing November 15, 2023(5) | 1,459 | 1,312,875 | ||||||||||
Clarios Global L.P. | ||||||||||||
Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), Maturing April 30, 2026 | EUR | 1,500 | 1,731,195 | |||||||||
Dayco Products, LLC | ||||||||||||
Term Loan, 4.51%, (3 mo. USD LIBOR + 4.25%), Maturing May 19, 2023 | 1,161 | 743,040 | ||||||||||
Garrett LX III S.a.r.l. | ||||||||||||
Term Loan, 5.75%, (USD Prime + 2.50%), Maturing September 27, 2025 | 295 | 285,613 | ||||||||||
Garrett Motion, Inc. | ||||||||||||
DIP Loan, Maturing March 15, 2021(4) | 78 | 78,066 | ||||||||||
IAA, Inc. | ||||||||||||
Term Loan, 2.44%, (1 mo. USD LIBOR + 2.25%), Maturing June 28, 2026 | 581 | 573,969 | ||||||||||
Tenneco, Inc. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing October 1, 2025 | 3,709 | 3,367,600 | ||||||||||
Thor Industries, Inc. | ||||||||||||
Term Loan, 3.94%, (1 mo. USD LIBOR + 3.75%), Maturing February 1, 2026 | 1,085 | 1,080,693 | ||||||||||
TI Group Automotive Systems, LLC | ||||||||||||
Term Loan, 4.50%, (3 mo. EURIBOR + 3.75%, Floor 0.75%), Maturing December 16, 2024 | EUR | 905 | 1,058,268 | |||||||||
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.75%, Floor 0.75%), Maturing December 16, 2024 | 945 | 943,383 | ||||||||||
Term Loan, Maturing December 16, 2024(4) | 400 | 399,500 | ||||||||||
$ | 16,476,109 | |||||||||||
Beverage and Tobacco — 0.2% | ||||||||||||
Arterra Wines Canada, Inc. | ||||||||||||
Term Loan, 3.75%, (3 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing December 15, 2023 | 2,868 | $ | 2,839,326 | |||||||||
$ | 2,839,326 |
5 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Brokerage / Securities Dealers / Investment Houses — 0.2% | ||||||||||||
Advisor Group, Inc. | ||||||||||||
Term Loan, 5.15%, (1 mo. USD LIBOR + 5.00%), Maturing July 31, 2026 | 1,166 | $ | 1,131,494 | |||||||||
Clipper Acquisitions Corp. | ||||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing December 27, 2024 | 1,240 | 1,227,538 | ||||||||||
OZ Management L.P. | ||||||||||||
Term Loan, 4.94%, (1 mo. USD LIBOR + 4.75%), Maturing April 10, 2023 | 24 | 23,800 | ||||||||||
$ | 2,382,832 | |||||||||||
Building and Development — 1.6% | ||||||||||||
ACProducts, Inc. | ||||||||||||
Term Loan, 7.50%, (6 mo. USD LIBOR + 6.50%, Floor 1.00%), Maturing August 18, 2025 | 395 | $ | 397,222 | |||||||||
Advanced Drainage Systems, Inc. | ||||||||||||
Term Loan, 2.44%, (1 mo. USD LIBOR + 2.25%), Maturing July 31, 2026 | 253 | 253,341 | ||||||||||
American Builders & Contractors Supply Co., Inc. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing January 15, 2027 | 2,426 | 2,360,882 | ||||||||||
APi Group DE, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing October 1, 2026 | 1,514 | 1,485,183 | ||||||||||
Beacon Roofing Supply, Inc. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing January 2, 2025 | 634 | 615,134 | ||||||||||
Brookfield Property REIT, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing August 27, 2025 | 1,004 | 819,783 | ||||||||||
Core & Main L.P. | ||||||||||||
Term Loan, 3.75%, (USD LIBOR + 2.75%, Floor 1.00%), Maturing August 1, 2024(5) | 1,172 | 1,151,670 | ||||||||||
CPG International, Inc. | ||||||||||||
Term Loan, 4.75%, (12 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing May 5, 2024 | 976 | 975,227 | ||||||||||
Cushman & Wakefield U.S. Borrower, LLC | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing August 21, 2025 | 5,797 | 5,606,295 | ||||||||||
LSF11 Skyscraper Holdco S.a.r.l. | ||||||||||||
Term Loan, Maturing July 10, 2027(4) | EUR | 1,000 | 1,164,633 | |||||||||
Quikrete Holdings, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing February 1, 2027 | 2,982 | 2,918,433 | ||||||||||
RE/MAX International, Inc. | ||||||||||||
Term Loan, 2.98%, (3 mo. USD LIBOR + 2.75%), Maturing December 15, 2023 | 2,199 | 2,177,167 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Building and Development (continued) | ||||||||||||
Realogy Group, LLC | ||||||||||||
Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), Maturing February 8, 2025 | 896 | $ | 861,559 | |||||||||
Werner FinCo L.P. | ||||||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing July 24, 2024 | 1,019 | 986,046 | ||||||||||
WireCo WorldGroup, Inc. | ||||||||||||
Term Loan, 6.00%, (6 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing September 30, 2023 | 1,338 | 1,170,944 | ||||||||||
Term Loan - Second Lien, 10.00%, (6 mo. USD LIBOR + 9.00%, Floor 1.00%), Maturing September 30, 2024 | 1,425 | 1,104,375 | ||||||||||
$ | 24,047,894 | |||||||||||
Business Equipment and Services — 4.1% | ||||||||||||
Adtalem Global Education, Inc. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing April 11, 2025 | 415 | $ | 408,167 | |||||||||
Airbnb, Inc. | ||||||||||||
Term Loan, 8.50%, (3 mo. USD LIBOR + 7.50%, Floor 1.00%), Maturing April 17, 2025 | 798 | 857,850 | ||||||||||
AlixPartners, LLP | ||||||||||||
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), Maturing April 4, 2024 | EUR | 1,753 | 2,035,770 | |||||||||
Allied Universal Holdco, LLC | ||||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing July 10, 2026 | 2,754 | 2,729,444 | ||||||||||
Amentum Government Services Holdings, LLC | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing February 1, 2027 | 1,022 | 1,013,491 | ||||||||||
AppLovin Corporation | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing August 15, 2025 | 2,261 | 2,235,326 | ||||||||||
Term Loan, 4.15%, (1 mo. USD LIBOR + 4.00%), Maturing August 15, 2025 | 672 | 664,069 | ||||||||||
ASGN Incorporated | ||||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing April 2, 2025 | 313 | 310,332 | ||||||||||
Asplundh Tree Expert, LLC | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing September 7, 2027 | 1,125 | 1,125,234 | ||||||||||
BidFair MergeRight, Inc. | ||||||||||||
Term Loan, 6.50%, (1 mo. USD LIBOR + 5.50%, Floor 1.00%), Maturing January 15, 2027 | 645 | 643,166 | ||||||||||
Bracket Intermediate Holding Corp. | ||||||||||||
Term Loan, 4.55%, (3 mo. USD LIBOR + 4.25%), Maturing September 5, 2025 | 931 | 914,707 |
6 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Business Equipment and Services (continued) | ||||||||||
Brand Energy & Infrastructure Services, Inc. | ||||||||||
Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing June 21, 2024 | 581 | $ | 543,614 | |||||||
Camelot U.S. Acquisition 1 Co. | ||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing October 30, 2026 | 1,836 | 1,811,644 | ||||||||
Term Loan, Maturing October 30, 2026(4) | 1,075 | 1,072,536 | ||||||||
Cardtronics USA, Inc. | ||||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing June 29, 2027 | 549 | 549,482 | ||||||||
CCC Information Services, Inc. | ||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing April 29, 2024 | 1,924 | 1,913,415 | ||||||||
Ceridian HCM Holding, Inc. | ||||||||||
Term Loan, 2.60%, (1 week USD LIBOR + 2.50%), Maturing April 30, 2025 | 1,519 | 1,473,430 | ||||||||
CM Acquisition Co. | ||||||||||
Term Loan, 11.00%, (3 mo. USD LIBOR + 10.00%, Floor 1.00%), Maturing July 26, 2023 | 262 | 250,281 | ||||||||
Deerfield Dakota Holding, LLC | ||||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing April 9, 2027 | 1,970 | 1,962,880 | ||||||||
EAB Global, Inc. | ||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing November 15, 2024 | 1,389 | 1,354,641 | ||||||||
EIG Investors Corp. | ||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing February 9, 2023 | 3,121 | 3,113,786 | ||||||||
Element Materials Technology Group US Holdings, Inc. | ||||||||||
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing June 28, 2024 | 413 | 393,687 | ||||||||
Garda World Security Corporation | ||||||||||
Term Loan, 4.90%, (1 mo. USD LIBOR + 4.75%), Maturing October 30, 2026 | 859 | 855,074 | ||||||||
IG Investment Holdings, LLC | ||||||||||
Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing May 23, 2025 | 2,888 | 2,860,989 | ||||||||
Illuminate Buyer, LLC | ||||||||||
Term Loan, 4.15%, (1 mo. USD LIBOR + 4.00%), Maturing June 16, 2027 | 800 | 795,334 | ||||||||
IRI Holdings, Inc. | ||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing December 1, 2025 | 9,983 | 9,889,045 | ||||||||
Iron Mountain, Inc. | ||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing January 2, 2026 | 902 | �� | 873,315 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Business Equipment and Services (continued) | ||||||||||
KAR Auction Services, Inc. | ||||||||||
Term Loan, 2.44%, (1 mo. USD LIBOR + 2.25%), Maturing September 19, 2026 | 644 | $ | 623,391 | |||||||
KUEHG Corp. | ||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing February 21, 2025 | 2,277 | 2,089,349 | ||||||||
Term Loan - Second Lien, 9.25%, (3 mo. USD LIBOR + 8.25%, Floor 1.00%), Maturing August 22, 2025 | 425 | 381,438 | ||||||||
LGC Group Holdings, Ltd. | ||||||||||
Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), Maturing April 21, 2027 | EUR | 1,000 | 1,148,512 | |||||||
Loire Finco Luxembourg S.a.r.l. | ||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing April 21, 2027 | 349 | 340,688 | ||||||||
Monitronics International, Inc. | ||||||||||
Term Loan, 7.75%, (1 mo. USD LIBOR + 6.50%, Floor 1.25%), Maturing March 29, 2024 | 2,003 | 1,525,474 | ||||||||
PGX Holdings, Inc. | ||||||||||
Term Loan, 6.25%, (12 mo. USD LIBOR + 5.25%, Floor 1.00%), Maturing September 29, 2023 | 1,286 | 1,086,932 | ||||||||
Prime Security Services Borrower, LLC | ||||||||||
Term Loan, 4.25%, (USD LIBOR + 3.25%, Floor 1.00%), Maturing September 23, 2026(5) | 1,711 | 1,697,577 | ||||||||
Rockwood Service Corporation | ||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing January 23, 2027 | 498 | 495,013 | ||||||||
SMG US Midco 2, Inc. | ||||||||||
Term Loan, 2.73%, (USD LIBOR + 2.50%), Maturing January 23, 2025(5) | 244 | 213,615 | ||||||||
Speedster Bidco GmbH | ||||||||||
Term Loan, 3.25%, (6 mo. EURIBOR + 3.25%), Maturing March 31, 2027 | EUR | 1,000 | 1,124,575 | |||||||
Spin Holdco, Inc. | ||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing November 14, 2022 | 3,838 | 3,771,929 | ||||||||
Techem Verwaltungsgesellschaft 675 mbH | ||||||||||
Term Loan, 2.63%, (3 mo. EURIBOR + 2.63%), Maturing July 15, 2025 | EUR | 826 | 951,460 | |||||||
Tempo Acquisition, LLC | ||||||||||
Term Loan, 3.75%, (1 mo. USD LIBOR + 3.25%, Floor 0.50%), Maturing November 2, 2026 | 852 | 830,205 | ||||||||
Vestcom Parent Holdings, Inc. | ||||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing December 19, 2023 | 601 | 588,152 | ||||||||
WASH Multifamily Laundry Systems, LLC | ||||||||||
Term Loan, 4.25%, (1 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing May 14, 2022 | 302 | 297,320 |
7 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Business Equipment and Services (continued) | ||||||||||||
West Corporation | ||||||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing October 10, 2024 | 342 | $ | 310,265 | |||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing October 10, 2024 | 1,191 | 1,089,626 | ||||||||||
Zephyr Bidco Limited | ||||||||||||
Term Loan, 4.30%, (1 mo. GBP LIBOR + 4.25%), Maturing July 23, 2025 | GBP | 775 | 957,520 | |||||||||
$ | 62,173,750 | |||||||||||
Cable and Satellite Television — 1.9% | ||||||||||||
CSC Holdings, LLC | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing July 17, 2025 | 3,933 | $ | 3,815,341 | |||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing January 15, 2026 | 1,059 | 1,027,329 | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing April 15, 2027 | 1,351 | 1,313,533 | ||||||||||
Numericable Group S.A. | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing July 31, 2025 | 2,080 | 1,987,039 | ||||||||||
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing July 31, 2025 | EUR | 508 | 572,454 | |||||||||
Telenet International Finance S.a.r.l. | ||||||||||||
Term Loan, 2.25%, (6 mo. EURIBOR + 2.25%), Maturing April 30, 2029 | EUR | 3,750 | 4,327,074 | |||||||||
UPC Broadband Holding B.V. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing April 30, 2028 | 900 | 869,175 | ||||||||||
Term Loan, Maturing January 31, 2029(4) | EUR | 500 | 580,118 | |||||||||
Term Loan, Maturing January 31, 2029(4) | EUR | 500 | 580,118 | |||||||||
Term Loan, Maturing January 31, 2029(4) | 1,825 | 1,772,987 | ||||||||||
Term Loan, Maturing January 31, 2029(4) | 1,825 | 1,772,988 | ||||||||||
Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), Maturing April 30, 2029 | EUR | 1,500 | 1,719,470 | |||||||||
Virgin Media Bristol, LLC | ||||||||||||
Term Loan, Maturing January 31, 2029(4) | 1,150 | 1,133,161 | ||||||||||
Virgin Media SFA Finance Limited | ||||||||||||
Term Loan, 3.30%, (1 mo. GBP LIBOR + 3.25%), Maturing November 15, 2027 | GBP | 1,500 | 1,875,039 | |||||||||
Term Loan, 2.50%, (6 mo. EURIBOR + 2.50%), Maturing January 31, 2029 | EUR | 1,300 | 1,483,794 | |||||||||
Ziggo B.V. | ||||||||||||
Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), Maturing January 31, 2029 | EUR | 3,750 | 4,306,691 | |||||||||
$ | 29,136,311 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Chemicals and Plastics — 2.3% | ||||||||||
Alpha 3 B.V. | ||||||||||
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing January 31, 2024 | 671 | $ | 661,897 | |||||||
Aruba Investments, Inc. | ||||||||||
Term Loan, 5.25%, (6 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing July 7, 2025 | 1,075 | 1,072,313 | ||||||||
Caldic B.V. | ||||||||||
Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), Maturing July 18, 2024 | EUR | 1,000 | 1,120,666 | |||||||
Emerald Performance Materials, LLC | ||||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing August 12, 2025 | 1,919 | 1,914,387 | ||||||||
Ferro Corporation | ||||||||||
Term Loan, 2.47%, (3 mo. USD LIBOR + 2.25%), Maturing February 14, 2024 | 338 | 333,234 | ||||||||
Term Loan, 2.47%, (3 mo. USD LIBOR + 2.25%), Maturing February 14, 2024 | 345 | 340,479 | ||||||||
Term Loan, 2.47%, (3 mo. USD LIBOR + 2.25%), Maturing February 14, 2024 | 483 | 476,411 | ||||||||
Flint Group GmbH | ||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 5.25% cash, 0.75% PIK, Maturing September 21, 2023 | 187 | 170,195 | ||||||||
Flint Group US, LLC | ||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), 5.25% cash, 0.75% PIK, Maturing September 21, 2023 | 1,131 | 1,029,539 | ||||||||
Gemini HDPE, LLC | ||||||||||
Term Loan, 2.76%, (3 mo. USD LIBOR + 2.50%), Maturing August 7, 2024 | 1,820 | 1,783,716 | ||||||||
Hexion, Inc. | ||||||||||
Term Loan, 3.80%, (3 mo. USD LIBOR + 3.50%), Maturing July 1, 2026 | 765 | 755,109 | ||||||||
Term Loan, 4.00%, (3 mo. EURIBOR + 4.00%), Maturing July 1, 2026 | EUR | 1,075 | 1,244,629 | |||||||
INEOS Enterprises Holdings II Limited | ||||||||||
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), Maturing August 28, 2026 | EUR | 200 | 230,855 | |||||||
INEOS Enterprises Holdings US Finco, LLC | ||||||||||
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing August 28, 2026 | 224 | 222,614 | ||||||||
INEOS Finance PLC | ||||||||||
Term Loan, 2.50%, (1 mo. EURIBOR + 2.00%, Floor 0.50%), Maturing April 1, 2024 | EUR | 1,225 | 1,408,012 | |||||||
INEOS Styrolution Group GmbH | ||||||||||
Term Loan, 2.50%, (3 mo. EURIBOR + 2.00%, Floor 0.50%), Maturing January 29, 2027 | EUR | 1,000 | 1,137,276 |
8 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Chemicals and Plastics (continued) | ||||||||||||
Inovyn Finance PLC | ||||||||||||
Term Loan, 2.50%, (3 mo. EURIBOR + 2.00%, Floor 0.50%), Maturing March 9, 2027 | EUR | 1,000 | $ | 1,152,665 | ||||||||
Messer Industries GmbH | ||||||||||||
Term Loan, 2.72%, (3 mo. USD LIBOR + 2.50%), Maturing March 1, 2026 | 1,601 | 1,573,815 | ||||||||||
Minerals Technologies, Inc. | ||||||||||||
Term Loan, 3.00%, (USD LIBOR + 2.25%, Floor 0.75%), Maturing February 14, 2024(5) | 1,057 | 1,048,805 | ||||||||||
Momentive Performance Materials, Inc. | ||||||||||||
Term Loan, 3.41%, (1 mo. USD LIBOR + 3.25%), Maturing May 15, 2024 | 469 | 451,082 | ||||||||||
Orion Engineered Carbons GmbH | ||||||||||||
Term Loan, 2.22%, (3 mo. USD LIBOR + 2.00%), Maturing July 25, 2024 | 701 | 691,750 | ||||||||||
Term Loan, 2.25%, (3 mo. EURIBOR + 2.25%), Maturing July 25, 2024 | EUR | 958 | 1,105,392 | |||||||||
PMHC II, Inc. | ||||||||||||
Term Loan, 4.50%, (12 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing March 31, 2025 | 2,670 | 2,474,597 | ||||||||||
PQ Corporation | ||||||||||||
Term Loan, 2.51%, (3 mo. USD LIBOR + 2.25%), Maturing February 7, 2027 | 1,741 | 1,707,807 | ||||||||||
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing February 7, 2027 | 1,870 | 1,867,507 | ||||||||||
Pregis TopCo Corporation | ||||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing July 31, 2026 | 645 | 637,867 | ||||||||||
Rohm Holding GmbH | ||||||||||||
Term Loan, 5.00%, (6 mo. EURIBOR + 5.00%), Maturing July 31, 2026 | EUR | 500 | 544,896 | |||||||||
Term Loan, 5.32%, (6 mo. USD LIBOR + 5.00%), Maturing July 31, 2026 | 347 | 313,066 | ||||||||||
Starfruit Finco B.V. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing October 1, 2025 | 2,927 | 2,839,137 | ||||||||||
Tronox Finance, LLC | ||||||||||||
Term Loan, 3.18%, (USD LIBOR + 3.00%), Maturing September 23, 2024(5) | 3,183 | 3,143,351 | ||||||||||
Univar, Inc. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing July 1, 2024 | 2,089 | 2,065,411 | ||||||||||
Venator Materials Corporation | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing August 8, 2024 | 412 | 400,398 | ||||||||||
$ | 35,918,878 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Conglomerates — 0.1% | ||||||||||||
Penn Engineering & Manufacturing Corp. | ||||||||||||
Term Loan, 3.50%, (3 mo. EURIBOR + 2.50%, Floor 1.00%), Maturing June 27, 2024 | EUR | 1,328 | $ | 1,509,982 | ||||||||
$ | 1,509,982 | |||||||||||
Containers and Glass Products — 1.1% | ||||||||||||
Berry Global, Inc. | ||||||||||||
Term Loan, 2.16%, (1 mo. USD LIBOR + 2.00%), Maturing October 1, 2022 | 961 | $ | 954,933 | |||||||||
Term Loan, 2.16%, (1 mo. USD LIBOR + 2.00%), Maturing July 1, 2026 | 988 | 959,452 | ||||||||||
BWAY Holding Company | ||||||||||||
Term Loan, 3.52%, (3 mo. USD LIBOR + 3.25%), Maturing April 3, 2024 | 2,551 | 2,414,352 | ||||||||||
Flex Acquisition Company, Inc. | ||||||||||||
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing December 29, 2023 | 1,474 | 1,442,163 | ||||||||||
Term Loan, 3.55%, (3 mo. USD LIBOR + 3.25%), Maturing June 29, 2025 | 1,517 | 1,475,942 | ||||||||||
Libbey Glass, Inc. | ||||||||||||
DIP Loan, 12.00%, (USD LIBOR + 11.00%, Floor 1.00%), Maturing November 27, 2020(5) | 1,519 | 1,527,183 | ||||||||||
DIP Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), 2.00% cash, 2.00% PIK, Maturing November 30, 2020 | 1,527 | 1,564,835 | ||||||||||
Term Loan, 0.00%, Maturing April 9, 2021(6) | 5,362 | 924,974 | ||||||||||
Pelican Products, Inc. | ||||||||||||
Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing May 1, 2025 | 635 | 609,431 | ||||||||||
Reynolds Consumer Products, LLC | ||||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing February 4, 2027 | 2,386 | 2,358,709 | ||||||||||
Reynolds Group Holdings, Inc. | ||||||||||||
Term Loan, Maturing February 3, | 1,375 | 1,371,562 | ||||||||||
Trident TPI Holdings, Inc. | ||||||||||||
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing October 17, 2024 | 828 | 814,650 | ||||||||||
$ | 16,418,186 | |||||||||||
Cosmetics / Toiletries — 0.1% | ||||||||||||
Kronos Acquisition Holdings, Inc. | ||||||||||||
Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing May 15, 2023 | 2,112 | $ | 2,104,426 | |||||||||
$ | 2,104,426 |
9 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Drugs — 2.3% | ||||||||||||
Aenova Holding GmbH | ||||||||||||
Term Loan, 5.00%, (6 mo. EURIBOR + 5.00%), Maturing March 6, 2025 | EUR | 500 | $ | 586,225 | ||||||||
Akorn, Inc. | ||||||||||||
DIP Loan, 10.50%, (1 mo. USD LIBOR + 9.50%, Floor 1.00%), Maturing November 17, 2020 | 50 | 50,413 | ||||||||||
Term Loan, 15.50%, (1 mo. USD LIBOR + 14.50%, Floor 1.00%), 14.75% cash, 0.75% PIK, Maturing April 16, 2021 | 1,153 | 982,664 | ||||||||||
Alkermes, Inc. | ||||||||||||
Term Loan, 2.41%, (1 mo. USD LIBOR + 2.25%), Maturing March 27, 2023 | 1,110 | 1,101,295 | ||||||||||
Amneal Pharmaceuticals, LLC | ||||||||||||
Term Loan, 3.69%, (1 mo. USD LIBOR + 3.50%), Maturing May 4, 2025 | 3,665 | 3,468,159 | ||||||||||
Arbor Pharmaceuticals, Inc. | ||||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing July 5, 2023 | 1,759 | 1,635,908 | ||||||||||
Bausch Health Companies, Inc. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing June 2, 2025 | 4,984 | 4,894,842 | ||||||||||
Catalent Pharma Solutions, Inc. | ||||||||||||
Term Loan, 3.25%, (1 mo. USD LIBOR + 2.25%, Floor 1.00%), Maturing May 18, 2026 | 837 | 835,157 | ||||||||||
Elanco Animal Health Incorporated | ||||||||||||
Term Loan, 1.91%, (1 mo. USD LIBOR + 1.75%), Maturing August 1, 2027 | 1,807 | 1,759,783 | ||||||||||
Endo Luxembourg Finance Company I S.a.r.l. | ||||||||||||
Term Loan, 5.00%, (3 mo. USD LIBOR + 4.25%, Floor 0.75%), Maturing April 29, 2024 | 5,249 | 5,030,305 | ||||||||||
Horizon Therapeutics USA, Inc. | ||||||||||||
Term Loan, 2.19%, (1 mo. USD LIBOR + 2.00%), Maturing May 22, 2026 | 654 | 649,429 | ||||||||||
Jaguar Holding Company II | ||||||||||||
Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), Maturing August 18, 2022 | 6,264 | 6,250,180 | ||||||||||
Mallinckrodt International Finance S.A. | ||||||||||||
Term Loan, 3.50%, (3 mo. USD LIBOR + 2.75%, Floor 0.75%), Maturing September 24, 2024 | 3,658 | 3,081,447 | ||||||||||
Term Loan, 3.75%, (6 mo. USD LIBOR + 3.00%, Floor 0.75%), Maturing February 24, 2025 | 2,097 | 1,783,668 | ||||||||||
Nidda Healthcare Holding AG | ||||||||||||
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing August 21, 2026 | EUR | 625 | 716,752 | |||||||||
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing August 21, 2026 | EUR | 1,000 | 1,147,779 | |||||||||
Packaging Coordinators Midco, Inc. | ||||||||||||
Term Loan, Maturing September 25, 2027(4) | 1,100 | 1,097,937 | ||||||||||
$ | 35,071,943 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Ecological Services and Equipment — 0.5% | ||||||||||||
Advanced Disposal Services, Inc. | ||||||||||||
Term Loan, 3.00%, (1 week USD LIBOR + 2.25%, Floor 0.75%), Maturing November 10, 2023 | 2,229 | $ | 2,225,726 | |||||||||
EnergySolutions, LLC | ||||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing May 9, 2025 | 5,230 | 5,030,841 | ||||||||||
Patriot Container Corp. | ||||||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing March 20, 2025 | 146 | 143,325 | ||||||||||
US Ecology Holdings, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing November 1, 2026 | 273 | 270,208 | ||||||||||
$ | 7,670,100 | |||||||||||
Electronics / Electrical — 8.1% | ||||||||||||
Allegro Microsystems, Inc. | ||||||||||||
Term Loan, Maturing September 24, 2027(4) | 550 | $ | 549,312 | |||||||||
Applied Systems, Inc. | ||||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing September 19, 2024 | 3,063 | 3,051,966 | ||||||||||
Term Loan - Second Lien, 8.00%, (3 mo. USD LIBOR + 7.00%, Floor 1.00%), Maturing September 19, 2025 | 475 | 482,719 | ||||||||||
Aptean, Inc. | ||||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing April 23, 2026 | 740 | 722,195 | ||||||||||
Term Loan - Second Lien, 8.65%, (1 mo. USD LIBOR + 8.50%), Maturing April 23, 2027 | 1,450 | 1,477,550 | ||||||||||
Astra Acquisition Corp. | ||||||||||||
Term Loan, 6.50%, (1 mo. USD LIBOR + 5.50%, Floor 1.00%), Maturing March 1, 2027 | 771 | 774,981 | ||||||||||
Avast Software B.V. | ||||||||||||
Term Loan, 2.25%, (3 mo. EURIBOR + 2.25%), Maturing September 29, 2023 | EUR | 2,006 | 2,350,531 | |||||||||
Banff Merger Sub, Inc. | ||||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing October 2, 2025 | 2,972 | 2,892,931 | ||||||||||
Term Loan, 4.75%, (3 mo. EURIBOR + 4.75%), Maturing October 2, 2025 | EUR | 295 | 340,684 | |||||||||
Blackhawk Network Holdings, Inc. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing June 15, 2025 | 831 | 787,427 | ||||||||||
Buzz Merger Sub, Ltd. | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing January 29, 2027 | 572 | 561,398 | ||||||||||
Castle US Holding Corporation | ||||||||||||
Term Loan, 3.97%, (3 mo. USD LIBOR + 3.75%), Maturing January 29, 2027 | 1,056 | 1,019,078 |
10 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Electronics / Electrical (continued) | ||||||||||
Celestica, Inc. | ||||||||||
Term Loan, 2.64%, (1 mo. USD LIBOR + 2.50%), Maturing June 27, 2025 | 263 | $ | 259,875 | |||||||
CentralSquare Technologies, LLC | ||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing August 29, 2025 | 884 | 797,151 | ||||||||
Cohu, Inc. | ||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing October 1, 2025 | 808 | 780,103 | ||||||||
CommScope, Inc. | ||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing April 6, 2026 | 1,807 | 1,764,969 | ||||||||
Cornerstone OnDemand, Inc. | ||||||||||
Term Loan, 4.41%, (1 mo. USD LIBOR + 4.25%), Maturing April 22, 2027 | 1,725 | 1,724,462 | ||||||||
CPI International, Inc. | ||||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing July 26, 2024 | 658 | 639,409 | ||||||||
Datto, Inc. | ||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing April 2, 2026 | 370 | 370,255 | ||||||||
ECI Macola/Max Holdings, LLC | ||||||||||
Term Loan, 5.25%, (1 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing September 27, 2024 | 828 | 822,869 | ||||||||
Electro Rent Corporation | ||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing January 31, 2024 | 1,841 | 1,839,100 | ||||||||
Epicor Software Corporation | ||||||||||
Term Loan, 5.25%, (1 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing July 30, 2027 | 794 | 792,308 | ||||||||
EXC Holdings III Corp. | ||||||||||
Term Loan, 4.50%, (3 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing December 2, 2024 | 511 | 505,457 | ||||||||
Finastra USA, Inc. | ||||||||||
Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing June 13, 2024 | 3,032 | 2,849,706 | ||||||||
Fiserv Investment Solutions, Inc. | ||||||||||
Term Loan, 5.02%, (3 mo. USD LIBOR + 4.75%), Maturing February 18, 2027 | 524 | 522,542 | ||||||||
GlobalLogic Holdings, Inc. | ||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing August 1, 2025 | 451 | 439,756 | ||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), Maturing August 13, 2027 | 750 | 746,250 | ||||||||
Go Daddy Operating Company, LLC | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing August 10, 2027 | 1,097 | 1,083,534 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Electronics / Electrical (continued) | ||||||||||
Hyland Software, Inc. | ||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), Maturing July 1, 2024 | 7,767 | $ | 7,737,520 | |||||||
Infoblox, Inc. | ||||||||||
Term Loan, 4.65%, (1 mo. USD LIBOR + 4.50%), Maturing November 7, 2023 | 790 | 792,369 | ||||||||
Informatica, LLC | ||||||||||
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), Maturing February 25, 2027 | EUR | 3,483 | 3,995,017 | |||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing February 25, 2027 | 5,721 | 5,597,288 | ||||||||
Term Loan - Second Lien, 7.13%, Maturing February 25, 2025(7) | 500 | 509,375 | ||||||||
LogMeIn, Inc. | ||||||||||
Term Loan, 4.91%, (1 mo. USD LIBOR + 4.75%), Maturing August 31, 2027 | 1,475 | 1,428,291 | ||||||||
MA FinanceCo., LLC | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing June 21, 2024 | 533 | 511,494 | ||||||||
Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), Maturing June 5, 2025 | EUR | 1,000 | 1,168,053 | |||||||
Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing June 5, 2025 | 1,800 | 1,794,375 | ||||||||
MACOM Technology Solutions Holdings, Inc. | ||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing May 17, 2024 | 1,455 | 1,415,972 | ||||||||
Marcel LUX IV S.a.r.l. | ||||||||||
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing March 16, 2026 | EUR | 1,500 | 1,731,561 | |||||||
Term Loan, Maturing September 22, 2027(4) | 425 | 423,937 | ||||||||
Microchip Technology Incorporated | ||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing May 29, 2025 | 1,550 | 1,547,312 | ||||||||
Milano Acquisition Corp. | ||||||||||
Term Loan, Maturing August 17, 2027(4) | 2,800 | 2,777,250 | ||||||||
Mirion Technologies, Inc. | ||||||||||
Term Loan, 4.27%, (6 mo. USD LIBOR + 4.00%), Maturing March 6, 2026 | 444 | 442,450 | ||||||||
NCR Corporation | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing August 28, 2026 | 941 | 918,751 | ||||||||
Recorded Books, Inc. | ||||||||||
Term Loan, 4.16%, (1 mo. USD LIBOR + 4.00%), Maturing August 29, 2025 | 236 | 234,685 | ||||||||
Term Loan, Maturing August 29, 2025(4) | 1,425 | 1,410,750 | ||||||||
Redstone Buyer, LLC | ||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing September 1, 2027 | 1,525 | 1,520,234 |
11 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Electronics / Electrical (continued) | ||||||||||
Refinitiv US Holdings, Inc. | ||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing October 1, 2025 | 1,204 | $ | 1,193,407 | |||||||
Renaissance Holding Corp. | ||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing May 30, 2025 | 1,271 | 1,229,451 | ||||||||
Term Loan - Second Lien, 7.15%, (1 mo. USD LIBOR + 7.00%), Maturing May 29, 2026 | 200 | 192,333 | ||||||||
Seattle Spinco, Inc. | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing June 21, 2024 | 3,602 | 3,454,466 | ||||||||
SGS Cayman L.P. | ||||||||||
Term Loan, 5.60%, (3 mo. USD LIBOR + 5.38%), Maturing April 23, 2021 | 248 | 216,602 | ||||||||
SkillSoft Corporation | ||||||||||
Term Loan, 8.50%, (3 mo. USD LIBOR + 7.50%, Floor 1.00%), Maturing December 27, 2024 | 740 | 747,115 | ||||||||
Term Loan - Second Lien, 8.50%, (3 mo. USD LIBOR + 7.50%, Floor 1.00%), Maturing April 27, 2025 | 2,444 | 2,419,578 | ||||||||
SolarWinds Holdings, Inc. | ||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing February 5, 2024 | 1,167 | 1,148,328 | ||||||||
Solera, LLC | ||||||||||
Term Loan, 2.94%, (2 mo. USD LIBOR + 2.75%), Maturing March 3, 2023 | 851 | 834,258 | ||||||||
Sophia L.P. | ||||||||||
Term Loan, Maturing September 22, | 400 | 398,062 | ||||||||
Sparta Systems, Inc. | ||||||||||
Term Loan, 3.72%, (3 mo. USD LIBOR + 3.50%), Maturing August 21, 2024 | 4,442 | 4,231,058 | ||||||||
SS&C Technologies Holdings Europe S.a.r.l. | ||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing April 16, 2025 | 1,126 | 1,093,000 | ||||||||
SS&C Technologies, Inc. | ||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing April 16, 2025 | 1,602 | 1,555,718 | ||||||||
STG-Fairway Holdings, LLC | ||||||||||
Term Loan, 3.47%, (3 mo. USD LIBOR + 3.25%), Maturing January 31, 2027 | 424 | 413,516 | ||||||||
SurveyMonkey, Inc. | ||||||||||
Term Loan, 3.86%, (1 week USD LIBOR + 3.75%), Maturing October 10, 2025 | 719 | 715,972 | ||||||||
Sutherland Global Services, Inc. | ||||||||||
Term Loan, 6.38%, (3 mo. USD LIBOR + 5.38%, Floor 1.00%), Maturing April 23, 2021 | 1,068 | 930,512 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Electronics / Electrical (continued) | ||||||||||||
Syncsort Incorporated | ||||||||||||
Term Loan, 6.51%, (3 mo. USD LIBOR + 6.25%), Maturing August 16, 2024 | 2,571 | $ | 2,536,750 | |||||||||
Tech Data Corporation | ||||||||||||
Term Loan, 3.64%, (1 mo. USD LIBOR + 3.50%), Maturing June 30, 2025 | 1,125 | 1,128,750 | ||||||||||
Tibco Software, Inc. | ||||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing June 30, 2026 | 5,109 | 4,994,338 | ||||||||||
Term Loan - Second Lien, 7.40%, (1 mo. USD LIBOR + 7.25%), Maturing March 3, 2028 | 475 | 466,094 | ||||||||||
TTM Technologies, Inc. | ||||||||||||
Term Loan, 2.66%, (1 mo. USD LIBOR + 2.50%), Maturing September 28, 2024 | 150 | 147,563 | ||||||||||
Uber Technologies, Inc. | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing July 13, 2023 | 3,504 | 3,460,200 | ||||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing April 4, 2025 | 7,732 | 7,691,880 | ||||||||||
Ultimate Software Group, Inc. (The) | ||||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing May 4, 2026 | 1,708 | 1,696,677 | ||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), Maturing May 4, 2026 | 3,950 | 3,944,138 | ||||||||||
Ultra Clean Holdings, Inc. | ||||||||||||
Term Loan, 4.65%, (1 mo. USD LIBOR + 4.50%), Maturing August 27, 2025 | 775 | 775,268 | ||||||||||
Verifone Systems, Inc. | ||||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 4.00%), Maturing August 20, 2025 | 1,254 | 1,130,992 | ||||||||||
Veritas US, Inc. | ||||||||||||
Term Loan, 6.50%, (3 mo. USD LIBOR + 5.50%, Floor 1.00%), Maturing September 1, 2025 | 2,475 | 2,423,025 | ||||||||||
VS Buyer, LLC | ||||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing February 28, 2027 | 1,095 | 1,079,451 | ||||||||||
Vungle, Inc. | ||||||||||||
Term Loan, 5.65%, (1 mo. USD LIBOR + 5.50%), Maturing September 30, 2026 | 4,505 | 4,481,977 | ||||||||||
$ | 123,635,681 | |||||||||||
Equipment Leasing — 0.2% | ||||||||||||
Boels Topholding B.V. | ||||||||||||
Term Loan, 4.00%, (1 mo. EURIBOR + 4.00%), Maturing January 14, 2027 | EUR | 750 | $ | 858,727 |
12 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Equipment Leasing (continued) | ||||||||||||
Delos Finance S.a.r.l. | ||||||||||||
Term Loan, 1.97%, (3 mo. USD LIBOR + 1.75%), Maturing October 6, 2023 | 2,293 | $ | 2,246,650 | |||||||||
$ | 3,105,377 | |||||||||||
Financial Intermediaries — 1.5% | ||||||||||||
Apollo Commercial Real Estate Finance, Inc. | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing May 15, 2026 | 444 | $ | 424,378 | |||||||||
Aretec Group, Inc. | ||||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing October 1, 2025 | 2,366 | 2,262,349 | ||||||||||
Citco Funding, LLC | ||||||||||||
Term Loan, 2.77%, (6 mo. USD LIBOR + 2.50%), Maturing September 28, 2023 | 3,935 | 3,831,343 | ||||||||||
Claros Mortgage Trust, Inc. | ||||||||||||
Term Loan, 3.41%, (1 mo. USD LIBOR + 3.25%), Maturing August 9, 2026 | 792 | 767,250 | ||||||||||
Ditech Holding Corporation | ||||||||||||
Term Loan, 0.00%, Maturing June 30, 2022(6) | 3,264 | 783,437 | ||||||||||
EIG Management Company, LLC | ||||||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.75%, Floor 0.75%), Maturing February 22, 2025 | 268 | 268,125 | ||||||||||
Evergood 4 ApS | ||||||||||||
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing February 6, 2025 | EUR | 750 | 870,984 | |||||||||
FinCo I, LLC | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing June 27, 2025 | 866 | 862,762 | ||||||||||
Focus Financial Partners, LLC | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing July 3, 2024 | 2,992 | 2,919,996 | ||||||||||
Franklin Square Holdings L.P. | ||||||||||||
Term Loan, 2.44%, (1 mo. USD LIBOR + 2.25%), Maturing August 1, 2025 | 539 | 533,609 | ||||||||||
Greenhill & Co., Inc. | ||||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing April 12, 2024 | 1,133 | 1,118,961 | ||||||||||
GreenSky Holdings, LLC | ||||||||||||
Term Loan, 3.44%, (1 mo. USD LIBOR + 3.25%), Maturing March 31, 2025 | 1,511 | 1,431,909 | ||||||||||
Guggenheim Partners, LLC | ||||||||||||
Term Loan, 3.50%, (1 mo. USD LIBOR + 2.75%, Floor 0.75%), Maturing July 21, 2023 | 2,692 | 2,678,967 | ||||||||||
Harbourvest Partners, LLC | ||||||||||||
Term Loan, 2.53%, (3 mo. USD LIBOR + 2.25%), Maturing March 3, 2025 | 991 | 980,753 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Financial Intermediaries (continued) | ||||||||||||
Nets Holding A/S | ||||||||||||
Term Loan, 3.25%, (3 mo. EURIBOR + 3.25%), Maturing February 6, 2025 | EUR | 1,000 | $ | 1,143,688 | ||||||||
Starwood Property Trust, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing July 27, 2026 | 520 | 504,807 | ||||||||||
Victory Capital Holdings, Inc. | ||||||||||||
Term Loan, 2.80%, (3 mo. USD LIBOR + 2.50%), Maturing July 1, 2026 | 1,171 | 1,156,036 | ||||||||||
Virtus Investment Partners, Inc. | ||||||||||||
Term Loan, 3.00%, (3 mo. USD LIBOR + 2.25%, Floor 0.75%), Maturing June 1, 2024 | 492 | 489,566 | ||||||||||
$ | 23,028,920 | |||||||||||
Food Products — 1.7% | ||||||||||||
Alphabet Holding Company, Inc. | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing September 26, 2024 | 3,820 | $ | 3,728,588 | |||||||||
Atkins Nutritionals Holdings II, Inc. | ||||||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing July 7, 2024 | 370 | 371,487 | ||||||||||
B&G Foods, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing October 10, 2026 | 227 | 226,998 | ||||||||||
Badger Buyer Corp. | ||||||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing September 30, 2024 | 388 | 368,600 | ||||||||||
CHG PPC Parent, LLC | ||||||||||||
Term Loan, 3.50%, (1 mo. EURIBOR + 3.50%), Maturing March 31, 2025 | EUR | 2,000 | 2,274,552 | |||||||||
Froneri International, Ltd. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing January 31, 2027 | 2,195 | 2,118,722 | ||||||||||
Term Loan, 2.63%, (1 mo. EURIBOR + 2.63%), Maturing January 31, 2027 | EUR | 1,275 | 1,456,567 | |||||||||
H Food Holdings, LLC | ||||||||||||
Term Loan, 3.83%, (1 mo. USD LIBOR + 3.69%), Maturing May 23, 2025 | 758 | 739,807 | ||||||||||
Term Loan, 4.15%, (1 mo. USD LIBOR + 4.00%), Maturing May 23, 2025 | 467 | 458,229 | ||||||||||
HLF Financing S.a.r.l. | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing August 18, 2025 | 1,078 | 1,064,749 | ||||||||||
Jacobs Douwe Egberts International B.V. | ||||||||||||
Term Loan, 2.25%, (3 mo. EURIBOR + 1.75%, Floor 0.50%), Maturing November 1, 2025 | EUR | 2,221 | 2,616,943 |
13 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Food Products (continued) | ||||||||||||
JBS USA LUX S.A. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing May 1, 2026 | 4,703 | $ | 4,600,489 | |||||||||
Nomad Foods Europe Midco Limited | ||||||||||||
Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), Maturing May 15, 2024 | EUR | 3,000 | 3,510,754 | |||||||||
Shearer’s Foods, Inc. | ||||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 4.00%, Floor 0.75%), Maturing September 23, 2027 | 400 | 398,800 | ||||||||||
Sunshine Investments B.V. | ||||||||||||
Term Loan, 4.07%, (3 mo. GBP LIBOR + 4.00%), Maturing March 28, 2025 | GBP | 750 | 945,987 | |||||||||
Valeo F1 Company Limited (Ireland) | ||||||||||||
Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), Maturing August 27, 2027 | EUR | 1,000 | 1,156,817 | |||||||||
$ | 26,038,089 | |||||||||||
Food Service — 0.4% | ||||||||||||
Aramark Services, Inc. | ||||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing March 11, 2025 | 933 | $ | 897,590 | |||||||||
IRB Holding Corp. | ||||||||||||
Term Loan, 3.75%, (USD LIBOR + 2.75%, Floor 1.00%), Maturing February 5, 2025(5) | 2,228 | 2,133,058 | ||||||||||
US Foods, Inc. | ||||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing June 27, 2023 | 853 | 823,263 | ||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing September 13, 2026 | 1,708 | 1,640,774 | ||||||||||
$ | 5,494,685 | |||||||||||
Food / Drug Retailers — 0.1% | ||||||||||||
BW Gas & Convenience Holdings, LLC | ||||||||||||
Term Loan, 6.40%, (1 mo. USD LIBOR + 6.25%), Maturing November 18, 2024 | 626 | $ | 629,144 | |||||||||
L1R HB Finance Limited | ||||||||||||
Term Loan, 4.25%, (6 mo. EURIBOR + 4.25%), Maturing August 9, 2024 | EUR | 750 | 705,668 | |||||||||
$ | 1,334,812 | |||||||||||
Forest Products — 0.0%(8) | ||||||||||||
Clearwater Paper Corporation | ||||||||||||
Term Loan, 3.19%, (1 mo. USD LIBOR + 3.00%), Maturing July 26, 2026 | 232 | $ | 231,877 | |||||||||
$ | 231,877 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Health Care — 5.1% | ||||||||||
Acadia Healthcare Company, Inc. | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing February 11, 2022 | 272 | $ | 271,536 | |||||||
Accelerated Health Systems, LLC | ||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing October 31, 2025 | 565 | 550,814 | ||||||||
ADMI Corp. | ||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing April 30, 2025 | 1,809 | 1,746,006 | ||||||||
Alliance Healthcare Services, Inc. | ||||||||||
Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), Maturing October 24, 2023 | 798 | 613,466 | ||||||||
Term Loan - Second Lien, 11.00%, (1 mo. USD LIBOR + 10.00%, Floor 1.00%), Maturing April 24, 2024 | 525 | 236,250 | ||||||||
athenahealth, Inc. | ||||||||||
Term Loan, 4.75%, (3 mo. USD LIBOR + 4.50%), Maturing February 11, 2026 | 1,945 | 1,923,490 | ||||||||
Avantor Funding, Inc. | ||||||||||
Term Loan, 3.25%, (1 mo. USD LIBOR + 2.25%, Floor 1.00%), Maturing November 21, 2024 | 1,054 | 1,040,818 | ||||||||
BioClinica Holding I L.P. | ||||||||||
Term Loan, 5.25%, (1 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing October 20, 2023 | 3,896 | 3,769,036 | ||||||||
BW NHHC Holdco, Inc. | ||||||||||
Term Loan, 5.27%, (3 mo. USD LIBOR + 5.00%), Maturing May 15, 2025 | 3,768 | 3,244,615 | ||||||||
CeramTec AcquiCo GmbH | ||||||||||
Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), Maturing March 7, 2025 | EUR | 903 | 1,011,534 | |||||||
Change Healthcare Holdings, LLC | ||||||||||
Term Loan, 3.50%, (USD LIBOR + 2.50%, Floor 1.00%), Maturing March 1, 2024(5) | 5,693 | 5,589,020 | ||||||||
CHG Healthcare Services, Inc. | ||||||||||
Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing June 7, 2023 | 2,597 | 2,557,332 | ||||||||
CryoLife, Inc. | ||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing December 1, 2024 | 535 | 532,201 | ||||||||
Dedalus Finance GmbH | ||||||||||
Term Loan, 4.50%, (1 mo. EURIBOR + 4.50%), Maturing May 4, 2027 | EUR | 500 | 583,294 | |||||||
Elsan S.A.S. | ||||||||||
Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), Maturing October 31, 2024 | EUR | 1,500 | 1,742,308 | |||||||
Ensemble RCM, LLC | ||||||||||
Term Loan, 4.01%, (3 mo. USD LIBOR + 3.75%), Maturing August 3, 2026 | 520 | 515,202 |
14 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Health Care (continued) | ||||||||||
Envision Healthcare Corporation | ||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing October 10, 2025 | 8,997 | $ | 6,489,124 | |||||||
Gentiva Health Services, Inc. | ||||||||||
Term Loan, 3.44%, (1 mo. USD LIBOR + 3.25%), Maturing July 2, 2025 | 2,509 | 2,461,688 | ||||||||
GHX Ultimate Parent Corporation | ||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing June 28, 2024 | 946 | 921,886 | ||||||||
Greatbatch, Ltd. | ||||||||||
Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), Maturing October 27, 2022 | 1,174 | 1,173,225 | ||||||||
Hanger, Inc. | ||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing March 6, 2025 | 1,121 | 1,116,111 | ||||||||
Inovalon Holdings, Inc. | ||||||||||
Term Loan, 3.19%, (1 mo. USD LIBOR + 3.00%), Maturing April 2, 2025 | 1,208 | 1,185,406 | ||||||||
IQVIA, Inc. | ||||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing March 7, 2024 | 1,503 | 1,485,800 | ||||||||
Term Loan, 1.90%, (1 mo. USD LIBOR + 1.75%), Maturing January 17, 2025 | 1,479 | 1,462,608 | ||||||||
Medical Solutions, LLC | ||||||||||
Term Loan, 5.50%, (6 mo. USD LIBOR + 4.50%, Floor 1.00%), Maturing June 14, 2024 | 1,223 | 1,183,070 | ||||||||
Mehilainen Yhtiot Oy | ||||||||||
Term Loan, Maturing August 9, 2025(4) | EUR | 750 | 868,529 | |||||||
MPH Acquisition Holdings, LLC | ||||||||||
Term Loan, 3.75%, (3 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing June 7, 2023 | 9,123 | 8,989,009 | ||||||||
National Mentor Holdings, Inc. | ||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing March 9, 2026 | 28 | 27,774 | ||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing March 9, 2026 | 614 | 608,456 | ||||||||
Navicure, Inc. | ||||||||||
Term Loan, 4.15%, (1 mo. USD LIBOR + 4.00%), Maturing October 22, 2026 | 995 | 975,100 | ||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 4.00%, Floor 0.75%), Maturing October 22, 2026 | 500 | 490,000 | ||||||||
One Call Corporation | ||||||||||
Term Loan, 6.25%, (3 mo. USD LIBOR + 5.25%, Floor 1.00%), Maturing November 25, 2022 | 1,478 | 1,296,628 | ||||||||
Ortho-Clinical Diagnostics S.A. | ||||||||||
Term Loan, 3.41%, (1 mo. USD LIBOR + 3.25%), Maturing June 30, 2025 | 3,326 | 3,193,907 | ||||||||
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing June 30, 2025 | EUR | 746 | 845,047 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Health Care (continued) | ||||||||||||
Parexel International Corporation | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing September 27, 2024 | 582 | $ | 558,875 | |||||||||
Phoenix Guarantor, Inc. | ||||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing March 5, 2026 | 1,926 | 1,883,974 | ||||||||||
Radiology Partners, Inc | ||||||||||||
Term Loan, 5.67%, (USD LIBOR + 4.25%), Maturing July 9, 2025(5) | 597 | 574,540 | ||||||||||
RadNet, Inc. | ||||||||||||
Term Loan, 4.75%, (6 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing June 30, 2023 | 1,768 | 1,747,905 | ||||||||||
Select Medical Corporation | ||||||||||||
Term Loan, 2.78%, (6 mo. USD LIBOR + 2.50%), Maturing March 6, 2025 | 2,968 | 2,901,021 | ||||||||||
Sound Inpatient Physicians | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing June 27, 2025 | 489 | 480,401 | ||||||||||
Surgery Center Holdings, Inc. | ||||||||||||
Term Loan, 4.25%, (1 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing September 3, 2024 | 1,067 | 1,012,125 | ||||||||||
Synlab Bondco PLC | ||||||||||||
Term Loan, Maturing July 31, 2024(4) | EUR | 1,000 | 1,172,031 | |||||||||
Team Health Holdings, Inc. | ||||||||||||
Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing February 6, 2024 | 2,340 | 1,971,555 | ||||||||||
Tecomet, Inc. | ||||||||||||
Term Loan, 4.68%, (6 mo. USD LIBOR + 3.50%), Maturing May 1, 2024 | 1,168 | 1,143,094 | ||||||||||
U.S. Anesthesia Partners, Inc. | ||||||||||||
Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing June 23, 2024 | 1,675 | 1,585,889 | ||||||||||
Verscend Holding Corp. | ||||||||||||
Term Loan, 4.65%, (1 mo. USD LIBOR + 4.50%), Maturing August 27, 2025 | 1,568 | 1,559,499 | ||||||||||
Viant Medical Holdings, Inc. | ||||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing July 2, 2025 | 490 | 454,475 | ||||||||||
Wink Holdco, Inc. | ||||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing December 2, 2024 | 486 | 485,718 | ||||||||||
$ | 78,231,392 | |||||||||||
Home Furnishings — 0.6% | ||||||||||||
Serta Simmons Bedding, LLC | ||||||||||||
Term Loan, 8.50%, (1 mo. USD LIBOR + 7.50%, Floor 1.00%), Maturing August 10, 2023 | 2,492 | $ | 2,496,154 |
15 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche 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%), Maturing August 10, 2023 | 8,238 | $ | 6,734,588 | |||||||||
$ | 9,230,742 | |||||||||||
Industrial Equipment — 2.6% | ||||||||||||
AI Alpine AT Bidco GmbH | ||||||||||||
Term Loan, 3.25%, (6 mo. EURIBOR + 3.25%), Maturing October 31, 2025 | EUR | 750 | $ | 814,266 | ||||||||
Term Loan, 4.21%, (6 mo. USD LIBOR + 3.00%), Maturing October 31, 2025 | 221 | 205,588 | ||||||||||
Altra Industrial Motion Corp. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing October 1, 2025 | 657 | 642,556 | ||||||||||
Apex Tool Group, LLC | ||||||||||||
Term Loan, 6.50%, (1 mo. USD LIBOR + 5.25%, Floor 1.25%), Maturing August 1, 2024 | 4,397 | 4,168,497 | ||||||||||
CFS Brands, LLC | ||||||||||||
Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing March 20, 2025 | 269 | 240,328 | ||||||||||
CPM Holdings, Inc. | ||||||||||||
Term Loan, 3.91%, (1 mo. USD LIBOR + 3.75%), Maturing November 17, 2025 | 319 | 301,301 | ||||||||||
Delachaux Group S.A. | ||||||||||||
Term Loan, 3.75%, (6 mo. EURIBOR + 3.75%), Maturing April 16, 2026 | EUR | 375 | 424,830 | |||||||||
Term Loan, 5.36%, (6 mo. USD LIBOR + 4.50%), | 470 | 452,616 | ||||||||||
DexKo Global, Inc. | ||||||||||||
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 24, 2024 | EUR | 319 | 361,229 | |||||||||
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 24, 2024 | EUR | 798 | 903,077 | |||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing July 24, 2024 | 919 | 900,236 | ||||||||||
DXP Enterprises, Inc. | ||||||||||||
Term Loan, 5.75%, (1 mo. USD LIBOR + 4.75%, Floor 1.00%), Maturing August 29, 2023 | 500 | 491,496 | ||||||||||
Dynacast International, LLC | ||||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing January 28, 2022 | 1,431 | 1,309,138 | ||||||||||
Engineered Machinery Holdings, Inc. | ||||||||||||
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing July 19, 2024 | 1,580 | 1,544,755 | ||||||||||
Term Loan, 5.25%, (3 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing July 19, 2024 | 319 | 315,321 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Industrial Equipment (continued) | ||||||||||||
EWT Holdings III Corp. | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing December 20, 2024 | 2,001 | $ | 1,977,584 | |||||||||
Filtration Group Corporation | ||||||||||||
Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing March 29, 2025 | EUR | 1,380 | 1,596,569 | |||||||||
Gardner Denver, Inc. | ||||||||||||
Term Loan, 2.00%, (1 mo. EURIBOR + 2.00%), Maturing March 1, 2027 | EUR | 1,437 | 1,653,789 | |||||||||
Gates Global, LLC | ||||||||||||
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing April 1, 2024 | EUR | 965 | 1,114,263 | |||||||||
Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing April 1, 2024 | 4,908 | 4,845,632 | ||||||||||
Hayward Industries, Inc. | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing August 5, 2024 | 478 | 467,058 | ||||||||||
LTI Holdings, Inc. | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing September 6, 2025 | 3,435 | 3,194,733 | ||||||||||
Term Loan, 4.90%, (1 mo. USD LIBOR + 4.75%), Maturing July 24, 2026 | 198 | 184,883 | ||||||||||
Minimax Viking GmbH | ||||||||||||
Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), Maturing July 31, 2025 | EUR | 970 | 1,130,821 | |||||||||
Quimper AB | ||||||||||||
Term Loan, 4.25%, (6 mo. EURIBOR + 4.25%), Maturing February 13, 2026 | EUR | 1,875 | 2,167,017 | |||||||||
Robertshaw US Holding Corp. | ||||||||||||
Term Loan, 4.25%, (3 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing February 28, 2025 | 1,024 | 891,515 | ||||||||||
Thermon Industries, Inc. | ||||||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing October 30, 2024 | 280 | 277,503 | ||||||||||
Titan Acquisition Limited | ||||||||||||
Term Loan, 3.36%, (3 mo. USD LIBOR + 3.00%), Maturing March 28, 2025 | 3,092 | 2,929,738 | ||||||||||
Vertical Midco GmbH | ||||||||||||
Term Loan, 4.25%, (6 mo. EURIBOR + 4.25%), Maturing July 30, 2027 | EUR | 1,500 | 1,758,949 | |||||||||
Term Loan, 4.57%, (3 mo. USD LIBOR + 4.25%), Maturing July 30, 2027 | 1,225 | 1,217,453 | ||||||||||
Welbilt, Inc. | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing October 23, 2025 | 1,767 | 1,611,172 | ||||||||||
$ | 40,093,913 |
16 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Insurance — 2.5% | ||||||||||||
Alliant Holdings Intermediate, LLC | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing May 9, 2025 | 2,715 | $ | 2,642,213 | |||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing May 9, 2025 | 469 | 461,587 | ||||||||||
AmWINS Group, Inc. | ||||||||||||
Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing January 25, 2024 | 4,871 | 4,839,887 | ||||||||||
Andromeda Investissements | ||||||||||||
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing June 12, 2026 | EUR | 1,250 | 1,449,075 | |||||||||
AssuredPartners, Inc. | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing February 12, 2027 | 174 | 168,954 | ||||||||||
Asurion, LLC | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing August 4, 2022 | 4,629 | 4,579,228 | ||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing November 3, 2023 | 2,656 | 2,620,638 | ||||||||||
Term Loan - Second Lien, 6.65%, (1 mo. USD LIBOR + 6.50%), Maturing August 4, 2025 | 2,583 | 2,594,635 | ||||||||||
Financiere CEP S.A.S. | ||||||||||||
Term Loan, 4.75%, (3 mo. EURIBOR + 4.75%), Maturing June 3, 2027 | EUR | 550 | 644,646 | |||||||||
FrontDoor, Inc. | ||||||||||||
Term Loan, 2.69%, (1 mo. USD LIBOR + 2.50%), Maturing August 16, 2025 | 466 | 462,591 | ||||||||||
Hub International Limited | ||||||||||||
Term Loan, 3.26%, (3 mo. USD LIBOR + 3.00%), Maturing April 25, 2025 | 5,083 | 4,920,344 | ||||||||||
Term Loan, 5.00%, (3 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing April 25, 2025 | 1,861 | 1,858,944 | ||||||||||
NFP Corp. | ||||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing February 15, 2027 | 3,171 | 3,044,802 | ||||||||||
Ryan Specialty Group, LLC | ||||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), Maturing September 1, 2027 | 1,725 | 1,716,375 | ||||||||||
Sedgwick Claims Management Services, Inc. | ||||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing December 31, 2025 | 1,253 | 1,211,751 | ||||||||||
USI, Inc. | ||||||||||||
Term Loan, 3.22%, (3 mo. USD LIBOR + 3.00%), | 3,153 | 3,055,955 | ||||||||||
Term Loan, 4.22%, (3 mo. USD LIBOR + 4.00%), Maturing December 2, 2026 | 1,414 | 1,408,832 | ||||||||||
$ | 37,680,457 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Leisure Goods / Activities / Movies — 2.1% | ||||||||||
AMC Entertainment Holdings, Inc. | ||||||||||
Term Loan, 3.22%, (3 mo. USD LIBOR + 3.00%), Maturing April 22, 2026 | 1,847 | $ | 1,195,852 | |||||||
Amer Sports Oyj | ||||||||||
Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), Maturing March 30, 2026 | EUR | 1,550 | 1,635,567 | |||||||
Ancestry.com Operations, Inc. | ||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing August 27, 2026 | 6,721 | 6,722,461 | ||||||||
Carnival Corporation | ||||||||||
Term Loan, 8.50%, (1 mo. USD LIBOR + 7.50%, Floor 1.00%), Maturing June 30, 2025 | 1,297 | 1,315,121 | ||||||||
ClubCorp Holdings, Inc. | ||||||||||
Term Loan, 2.97%, (3 mo. USD LIBOR + 2.75%), Maturing September 18, 2024 | 1,940 | 1,672,239 | ||||||||
Crown Finance US, Inc. | ||||||||||
Term Loan, 2.63%, (6 mo. EURIBOR + 2.63%), Maturing February 28, 2025 | EUR | 290 | 232,178 | |||||||
Term Loan, 3.02%, (6 mo. USD LIBOR + 2.75%), Maturing September 30, 2026 | 1,510 | 1,013,042 | ||||||||
Delta 2 (LUX) S.a.r.l. | ||||||||||
Term Loan, 3.50%, (1 mo. USD LIBOR + 2.50%, Floor 1.00%), Maturing February 1, 2024 | 725 | 707,184 | ||||||||
Emerald Expositions Holding, Inc. | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing May 22, 2024 | 665 | 600,844 | ||||||||
Etraveli Holding AB | ||||||||||
Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), Maturing August 2, 2024 | EUR | 950 | 907,769 | |||||||
Lindblad Expeditions, Inc. | ||||||||||
Term Loan, 5.50%, (1 mo. USD LIBOR + 4.75%, Floor 0.75%), Maturing March 27, 2025 | 464 | 428,904 | ||||||||
Term Loan, 5.50%, (1 mo. USD LIBOR + 4.75%, Floor 0.75%), Maturing March 27, 2025 | 1,855 | 1,715,618 | ||||||||
Match Group, Inc. | ||||||||||
Term Loan, 2.00%, (3 mo. USD LIBOR + 1.75%), Maturing February 13, 2027 | 675 | 665,719 | ||||||||
Motion Finco S.a.r.l. | ||||||||||
Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing November 12, 2026 | EUR | 1,375 | 1,417,321 | |||||||
Term Loan, 3.47%, (3 mo. USD LIBOR + 3.25%), Maturing November 12, 2026 | 69 | 60,298 | ||||||||
Term Loan, 3.47%, (3 mo. USD LIBOR + 3.25%), Maturing November 12, 2026 | 526 | 458,790 | ||||||||
Playtika Holding Corp. | ||||||||||
Term Loan, 7.00%, (6 mo. USD LIBOR + 6.00%, Floor 1.00%), Maturing December 10, 2024 | 3,369 | 3,380,962 |
17 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Leisure Goods / Activities / Movies (continued) | ||||||||||||
SeaWorld Parks & Entertainment, Inc. | ||||||||||||
Term Loan, 3.75%, (1 mo. USD LIBOR + 3.00%, Floor 0.75%), Maturing March 31, 2024 | 2,185 | $ | 2,065,176 | |||||||||
SRAM, LLC | ||||||||||||
Term Loan, 3.75%, (USD LIBOR + 2.75%, Floor 1.00%), Maturing March 15, 2024(5) | 1,035 | 1,035,295 | ||||||||||
Steinway Musical Instruments, Inc. | ||||||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing February 14, 2025 | 514 | 493,290 | ||||||||||
Travel Leaders Group, LLC | ||||||||||||
Term Loan, 4.15%, (1 mo. USD LIBOR + 4.00%), Maturing January 25, 2024 | 953 | 706,259 | ||||||||||
UFC Holdings, LLC | ||||||||||||
Term Loan, 4.25%, (6 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing April 29, 2026 | 3,117 | 3,079,819 | ||||||||||
Vue International Bidco PLC | ||||||||||||
Term Loan, 4.75%, (3 mo. EURIBOR + 4.75%), Maturing July 3, 2026 | EUR | 1,081 | 986,032 | |||||||||
$ | 32,495,740 | |||||||||||
Lodging and Casinos — 1.5% | ||||||||||||
Aristocrat Technologies, Inc. | ||||||||||||
Term Loan, 2.02%, (3 mo. USD LIBOR + 1.75%), Maturing October 19, 2024 | 1,061 | $ | 1,038,653 | |||||||||
Azelis Finance S.A. | ||||||||||||
Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), Maturing November 10, 2025 | EUR | 1,925 | 2,209,709 | |||||||||
Boyd Gaming Corporation | ||||||||||||
Term Loan, 2.36%, (1 week USD LIBOR + 2.25%), Maturing September 15, 2023 | 727 | 708,338 | ||||||||||
CityCenter Holdings, LLC | ||||||||||||
Term Loan, 3.00%, (1 mo. USD LIBOR + 2.25%, Floor 0.75%), Maturing April 18, 2024 | 2,761 | 2,658,189 | ||||||||||
ESH Hospitality, Inc. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing September 18, 2026 | 1,196 | 1,166,188 | ||||||||||
Four Seasons Hotels Limited | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing November 30, 2023 | 1,059 | 1,031,752 | ||||||||||
Golden Nugget, Inc. | ||||||||||||
Term Loan, 3.25%, (2 mo. USD LIBOR + 2.50%, Floor 0.75%), Maturing October 4, 2023 | 4,273 | 3,849,726 | ||||||||||
GVC Holdings (Gibraltar) Limited | ||||||||||||
Term Loan, 3.25%, (3 mo. USD LIBOR + 2.25%, Floor 1.00%), Maturing March 29, 2024 | 1,146 | 1,129,873 | ||||||||||
GVC Holdings PLC | ||||||||||||
Term Loan, 2.50%, (3 mo. EURIBOR + 2.50%), Maturing March 29, 2024 | EUR | 1,850 | 2,134,462 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Lodging and Casinos (continued) | ||||||||||||
Playa Resorts Holding B.V. | ||||||||||||
Term Loan, 3.75%, (1 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing April 29, 2024 | 2,642 | $ | 2,338,474 | |||||||||
Stars Group Holdings B.V. (The) | ||||||||||||
Term Loan, 3.72%, (3 mo. USD LIBOR + 3.50%), Maturing July 10, 2025 | 2,108 | 2,111,382 | ||||||||||
Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 10, 2025 | EUR | 582 | 684,224 | |||||||||
VICI Properties 1, LLC | ||||||||||||
Term Loan, 1.91%, (1 mo. USD LIBOR + 1.75%), Maturing December 20, 2024 | 2,315 | 2,243,015 | ||||||||||
$ | 23,303,985 | |||||||||||
Nonferrous Metals / Minerals — 0.2% | ||||||||||||
American Consolidated Natural Resources, Inc. | ||||||||||||
Term Loan, 13.15%, (1 mo. USD LIBOR + 13.00%), Maturing September 16, 2025 | 738 | $ | 512,988 | |||||||||
CD&R Hydra Buyer, Inc. | ||||||||||||
Term Loan, 7.50%, (0.00% cash, 7.50% PIK), Maturing August 15, 2021(3)(7) | 163 | 129,715 | ||||||||||
Noranda Aluminum Acquisition Corporation | ||||||||||||
Term Loan, 0.00%, Maturing February 28, 2021(6) | 452 | 31,628 | ||||||||||
Oxbow Carbon, LLC | ||||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing January 4, 2023 | 604 | 594,694 | ||||||||||
Rain Carbon GmbH | ||||||||||||
Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), Maturing January 16, 2025 | EUR | 1,025 | 1,122,144 | |||||||||
$ | 2,391,169 | |||||||||||
Oil and Gas — 1.0% | ||||||||||||
Ameriforge Group, Inc. | ||||||||||||
Term Loan, 14.00%, (3 mo. USD LIBOR + 13.00%, Floor 1.00%), 9.00% cash, 5.00% PIK, Maturing June 8, 2022 | 746 | $ | 652,719 | |||||||||
Apergy Corporation | ||||||||||||
Term Loan, 2.69%, (1 mo. USD LIBOR + 2.50%), Maturing May 9, 2025 | 172 | 168,217 | ||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing May 28, 2027 | 222 | 221,632 | ||||||||||
Blackstone CQP Holdco L.P. | ||||||||||||
Term Loan, 3.73%, (3 mo. USD LIBOR + 3.50%), Maturing September 30, 2024 | 1,012 | 992,893 | ||||||||||
Buckeye Partners L.P. | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing November 1, 2026 | 2,761 | 2,716,257 |
18 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||
Oil and Gas (continued) | ||||||||||
Centurion Pipeline Company, LLC | ||||||||||
Term Loan, 4.14%, (1 mo. USD LIBOR + 4.00%), Maturing September 28, 2025 | 225 | $ | 220,500 | |||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing September 29, 2025 | 270 | 267,486 | ||||||||
CITGO Holding, Inc. | ||||||||||
Term Loan, 8.00%, (6 mo. USD LIBOR + 7.00%, Floor 1.00%), Maturing August 1, 2023 | 248 | 233,269 | ||||||||
CITGO Petroleum Corporation | ||||||||||
Term Loan, 6.00%, (6 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing March 28, 2024 | 2,290 | 2,183,851 | ||||||||
Delek US Holdings, Inc. | ||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing March 31, 2025 | 1,379 | 1,307,099 | ||||||||
Term Loan, 6.50%, (1 mo. USD LIBOR + 5.50%, Floor 1.00%), Maturing March 31, 2025 | 572 | 558,537 | ||||||||
Fieldwood Energy, LLC | ||||||||||
DIP Loan, 3.68%, (1 mo. USD LIBOR + 8.75%), Maturing August 4, 2021(2) | 409 | 411,405 | ||||||||
Term Loan, 0.00%, Maturing April 11, 2022(6) | 2,771 | 727,371 | ||||||||
Matador Bidco S.a.r.l. | ||||||||||
Term Loan, 4.90%, (1 mo. USD LIBOR + 4.75%), Maturing October 15, 2026 | 1,741 | 1,699,895 | ||||||||
McDermott Technology Americas, Inc. | ||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing June 30, 2024 | 26 | 22,357 | ||||||||
Term Loan, 4.15%, (1 mo. USD LIBOR + 4.00%), Maturing June 30, 2025 | 212 | 173,148 | ||||||||
Prairie ECI Acquiror L.P. | ||||||||||
Term Loan, 4.90%, (1 mo. USD LIBOR + 4.75%), Maturing March 11, 2026 | 1,304 | 1,181,503 | ||||||||
PSC Industrial Holdings Corp. | ||||||||||
Term Loan, 4.98%, (6 mo. USD LIBOR + 3.75%), Maturing October 11, 2024 | 778 | 741,045 | ||||||||
RDV Resources Properties, LLC | ||||||||||
Term Loan, 7.50%, (1 mo. USD LIBOR + 6.50%, Floor 1.00%), Maturing March 29, 2024(3) | 447 | 290,484 | ||||||||
Sunrise Oil & Gas Properties, LLC | ||||||||||
Term Loan - First Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), Maturing January 17, 2023 | 104 | 94,225 | ||||||||
Term Loan - Second Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), Maturing January 17, 2023 | 107 | 83,935 | ||||||||
Term Loan - Third Lien, 8.00%, (1 mo. USD LIBOR + 7.00%, Floor 1.00%), Maturing January 17, 2023 | 124 | 62,381 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Oil and Gas (continued) | ||||||||||||
UGI Energy Services, LLC | ||||||||||||
Term Loan, 3.90%, (1 mo. USD LIBOR + 3.75%), Maturing August 13, 2026 | 1,062 | $ | 1,060,236 | |||||||||
$ | 16,070,445 | |||||||||||
Publishing — 0.5% | ||||||||||||
Alchemy Copyrights, LLC | ||||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.25%, Floor 0.75%), Maturing August 16, 2027 | 475 | $ | 475,000 | |||||||||
Ascend Learning, LLC | ||||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing July 12, 2024 | 1,188 | 1,176,738 | ||||||||||
Axel Springer S.E. | ||||||||||||
Term Loan, 5.00%, (6 mo. EURIBOR + 5.00%), Maturing December 18, 2026 | EUR | 1,000 | 1,126,529 | |||||||||
Getty Images, Inc. | ||||||||||||
Term Loan, 4.69%, (1 mo. USD LIBOR + 4.50%), Maturing February 19, 2026 | 1,069 | 1,003,899 | ||||||||||
LSC Communications, Inc. | ||||||||||||
Term Loan, 0.00%, Maturing September 30, 2022(6) | 843 | 121,410 | ||||||||||
Nielsen Finance, LLC | ||||||||||||
Term Loan, 3.75%, (1 mo. EURIBOR + 3.75%), Maturing June 4, 2025 | EUR | 1,000 | 1,171,473 | |||||||||
ProQuest, LLC | ||||||||||||
Term Loan, 3.65%, (1 mo. USD LIBOR + 3.50%), Maturing October 23, 2026 | 1,510 | 1,495,621 | ||||||||||
Tweddle Group, Inc. | ||||||||||||
Term Loan, 4.65%, (1 mo. USD LIBOR + 4.50%), Maturing September 17, 2023 | 576 | 518,801 | ||||||||||
$ | 7,089,471 | |||||||||||
Radio and Television — 1.3% | ||||||||||||
Cumulus Media New Holdings, Inc. | ||||||||||||
Term Loan, 4.75%, (6 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing March 31, 2026 | 470 | $ | 446,738 | |||||||||
Diamond Sports Group, LLC | ||||||||||||
Term Loan, 3.40%, (1 mo. USD LIBOR + 3.25%), Maturing August 24, 2026 | 3,069 | 2,393,820 | ||||||||||
Entercom Media Corp. | ||||||||||||
Term Loan, 2.64%, (1 mo. USD LIBOR + 2.50%), Maturing November 18, 2024 | 1,001 | 946,588 | ||||||||||
Entravision Communications Corporation | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing November 29, 2024 | 846 | 810,045 |
19 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Radio and Television (continued) | ||||||||||||
Gray Television, Inc. | ||||||||||||
Term Loan, 2.41%, (1 mo. USD LIBOR + 2.25%), Maturing February 7, 2024 | 278 | $ | 272,637 | |||||||||
Term Loan, 2.66%, (1 mo. USD LIBOR + 2.50%), Maturing January 2, 2026 | 637 | 627,098 | ||||||||||
Hubbard Radio, LLC | ||||||||||||
Term Loan, 5.25%, (6 mo. USD LIBOR + 4.25%, Floor 1.00%), Maturing March 28, 2025 | 814 | 782,933 | ||||||||||
iHeartCommunications, Inc. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing May 1, 2026 | 496 | 471,934 | ||||||||||
Nexstar Broadcasting, Inc. | ||||||||||||
Term Loan, 2.39%, (1 mo. USD LIBOR + 2.25%), Maturing January 17, 2024 | 137 | 133,656 | ||||||||||
Term Loan, 2.91%, (1 mo. USD LIBOR + 2.75%), Maturing September 18, 2026 | 504 | 494,872 | ||||||||||
Sinclair Television Group, Inc. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing January 3, 2024 | 486 | 475,046 | ||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing September 30, 2026 | 644 | 630,147 | ||||||||||
Terrier Media Buyer, Inc. | ||||||||||||
Term Loan, 4.40%, (1 mo. USD LIBOR + 4.25%), Maturing December 17, 2026 | 1,861 | 1,819,532 | ||||||||||
Townsquare Media, Inc. | ||||||||||||
Term Loan, 4.00%, (3 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing April 1, 2022 | 2,196 | 2,096,817 | ||||||||||
Univision Communications, Inc. | ||||||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing March 13, 2026 | 7,034 | 6,859,909 | ||||||||||
$ | 19,261,772 | |||||||||||
Retailers (Except Food and Drug) — 0.6% | ||||||||||||
Apro, LLC | ||||||||||||
Term Loan, 5.00%, (1 mo. USD LIBOR + 4.00%, Floor 1.00%), Maturing November 14, 2026 | 670 | $ | 663,608 | |||||||||
Ascena Retail Group, Inc. | ||||||||||||
DIP Loan, 12.75%, (1 mo. USD LIBOR + 11.75%, Floor 1.00%), Maturing March 16, 2021 | 933 | 1,261,476 | ||||||||||
Term Loan, 0.00%, Maturing August 21, 2022(6) | 2,690 | 596,385 | ||||||||||
Bass Pro Group, LLC | ||||||||||||
Term Loan, 5.75%, (3 mo. USD LIBOR + 5.00%, Floor 0.75%), Maturing September 25, 2024 | 1,504 | 1,494,760 | ||||||||||
BJ’s Wholesale Club, Inc. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing February 3, 2024 | 806 | 793,073 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Retailers (Except Food and Drug) (continued) | ||||||||||||
Coinamatic Canada, Inc. | ||||||||||||
Term Loan, 4.25%, (1 mo. USD LIBOR + 3.25%, Floor 1.00%), Maturing May 14, 2022 | 53 | $ | 52,069 | |||||||||
David’s Bridal, Inc. | ||||||||||||
Term Loan, 11.00%, (1 mo. USD LIBOR + 10.00%, Floor 1.00%), 6.00% cash, 5.00% PIK, Maturing June 23, 2023 | 513 | 473,190 | ||||||||||
Term Loan, 7.00%, (3 mo. USD LIBOR + 6.00%, Floor 1.00%), Maturing June 30, 2023 | 597 | 484,193 | ||||||||||
Hoya Midco, LLC | ||||||||||||
Term Loan, 4.50%, (6 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing June 30, 2024 | 2,082 | 1,798,538 | ||||||||||
LSF9 Atlantis Holdings, LLC | ||||||||||||
Term Loan, 7.00%, (1 mo. USD LIBOR + 6.00%, Floor 1.00%), Maturing May 1, 2023 | 1,049 | 1,023,304 | ||||||||||
PFS Holding Corporation | ||||||||||||
Term Loan, 0.00%, Maturing January 31, 2021(6) | 2,213 | 862,978 | ||||||||||
Pier 1 Imports (U.S.), Inc. | ||||||||||||
Term Loan, 0.00%, Maturing April 30, | 638 | 311,283 | ||||||||||
$ | 9,814,857 | |||||||||||
Steel — 0.4% | ||||||||||||
Atkore International, Inc. | ||||||||||||
Term Loan, 3.75%, (3 mo. USD LIBOR + 2.75%, Floor 1.00%), Maturing December 22, 2023 | 375 | $ | 374,374 | |||||||||
GrafTech Finance, Inc. | ||||||||||||
Term Loan, 4.50%, (1 mo. USD LIBOR + 3.50%, Floor 1.00%), Maturing February 12, 2025 | 3,588 | 3,554,640 | ||||||||||
Neenah Foundry Company | ||||||||||||
Term Loan, 9.19%, (2 mo. USD LIBOR + 9.00%), Maturing December 13, 2022 | 727 | 636,388 | ||||||||||
Phoenix Services International, LLC | ||||||||||||
Term Loan, 4.75%, (1 mo. USD LIBOR + 3.75%, Floor 1.00%), Maturing March 1, 2025 | 878 | 844,594 | ||||||||||
Zekelman Industries, Inc. | ||||||||||||
Term Loan, 2.14%, (1 mo. USD LIBOR + 2.00%), Maturing January 24, 2027 | 1,144 | 1,111,174 | ||||||||||
$ | 6,521,170 | |||||||||||
Surface Transport — 0.1% | ||||||||||||
Hertz Corporation (The) | ||||||||||||
Term Loan, 0.00%, Maturing June 30, | 1,195 | $ | 1,147,500 | |||||||||
Kenan Advantage Group, Inc. | ||||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing July 31, 2022 | 127 | 122,674 | ||||||||||
Term Loan, 4.00%, (1 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing July 31, 2022 | 418 | 403,409 |
20 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Surface Transport (continued) | ||||||||||||
XPO Logistics, Inc. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing February 24, 2025 | 650 | $ | 640,318 | |||||||||
$ | 2,313,901 | |||||||||||
Telecommunications — 2.1% | ||||||||||||
Cablevision Lightpath, LLC | ||||||||||||
Term Loan, Maturing September 15, 2027(4) | 350 | $ | 348,031 | |||||||||
CenturyLink, Inc. | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing March 15, 2027 | 7,345 | 7,069,735 | ||||||||||
Colorado Buyer, Inc. | ||||||||||||
Term Loan, 4.00%, (6 mo. USD LIBOR + 3.00%, Floor 1.00%), Maturing May 1, 2024 | 919 | 808,830 | ||||||||||
Digicel International Finance Limited | ||||||||||||
Term Loan, 3.80%, (6 mo. USD LIBOR + 3.25%), Maturing May 28, 2024 | 4,927 | 4,352,041 | ||||||||||
eircom Finco S.a.r.l. | ||||||||||||
Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), Maturing May 15, 2026 | EUR | 1,786 | 2,074,178 | |||||||||
Gamma Infrastructure III B.V. | ||||||||||||
Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), Maturing January 9, 2025 | EUR | 1,700 | 1,935,030 | |||||||||
Global Eagle Entertainment, Inc. | ||||||||||||
DIP Loan, 11.25%, (1 mo. USD LIBOR + 10.00%, Floor 1.25%), Maturing January 22, 2021 | 329 | 328,814 | ||||||||||
Term Loan, 0.00%, Maturing January 6, 2023(6) | 2,210 | 1,538,952 | ||||||||||
Intelsat Jackson Holdings S.A. | ||||||||||||
DIP Loan, 5.05%, (3 mo. USD LIBOR + 5.50%, Floor 1.00%), Maturing July 13, 2022(2) | 444 | 453,466 | ||||||||||
Term Loan, 8.75%, (USD Prime + 5.50%), Maturing January 2, 2024 | 1,500 | 1,516,340 | ||||||||||
IPC Corp. | ||||||||||||
Term Loan, 5.50%, (3 mo. USD LIBOR + 4.50%, Floor 1.00%), Maturing August 6, 2021(3) | 1,088 | 786,732 | ||||||||||
Onvoy, LLC | ||||||||||||
Term Loan, 5.50%, (1 mo. USD LIBOR + 4.50%, Floor 1.00%), Maturing February 10, 2024 | 820 | 788,978 | ||||||||||
Plantronics, Inc. | ||||||||||||
Term Loan, 2.65%, (USD LIBOR + 2.50%), Maturing July 2, 2025(5) | 1,304 | 1,229,226 | ||||||||||
Syniverse Holdings, Inc. | ||||||||||||
Term Loan, 6.00%, (3 mo. USD LIBOR + 5.00%, Floor 1.00%), Maturing March 9, 2023 | 1,048 | 816,664 | ||||||||||
Telesat Canada | ||||||||||||
Term Loan, 2.90%, (1 mo. USD LIBOR + 2.75%), Maturing December 7, 2026 | 1,390 | 1,347,815 |
Borrower/Tranche Description | Principal Amount* (000’s omitted) | Value | ||||||||||
Telecommunications (continued) | ||||||||||||
Zayo Group Holdings, Inc. | ||||||||||||
Term Loan, 3.15%, (1 mo. USD LIBOR + 3.00%), Maturing March 9, 2027 | 2,313 | $ | 2,250,423 | |||||||||
Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), Maturing March 9, 2027 | EUR | 995 | 1,145,297 | |||||||||
Ziggo Financing Partnership | ||||||||||||
Term Loan, 2.65%, (1 mo. USD LIBOR + 2.50%), Maturing April 30, 2028 | 4,150 | 4,011,091 | ||||||||||
$ | 32,801,643 | |||||||||||
Utilities — 0.4% | ||||||||||||
Calpine Construction Finance Company L.P. | ||||||||||||
Term Loan, 2.15%, (1 mo. USD LIBOR + 2.00%), Maturing January 15, 2025 | 2,729 | $ | 2,649,242 | |||||||||
Calpine Corporation | ||||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing January 15, 2024 | 3,081 | 3,005,646 | ||||||||||
Term Loan, 2.40%, (1 mo. USD LIBOR + 2.25%), Maturing April 5, 2026 | 913 | 890,887 | ||||||||||
Longview Power, LLC | ||||||||||||
Term Loan, 11.50%, (3 mo. USD LIBOR + 10.00%, Floor 1.50%), Maturing July 30, 2025(3) | 43 | 34,251 | ||||||||||
$ | 6,580,026 | |||||||||||
Total Senior Floating-Rate Loans |
| $ | 762,415,618 | |||||||||
Corporate Bonds & Notes — 50.8% |
| |||||||||||
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Aerospace and Defense — 1.3% | ||||||||||||
Bombardier, Inc. | ||||||||||||
6.125%, 5/15/21(9) | EUR | 100 | $ | 116,372 | ||||||||
6.00%, 10/15/22(10) | 2,014 | 1,870,502 | ||||||||||
6.125%, 1/15/23(10) | 1,685 | 1,442,360 | ||||||||||
7.875%, 4/15/27(10) | 602 | 457,502 | ||||||||||
Howmet Aerospace, Inc. | ||||||||||||
6.875%, 5/1/25 | 1,683 | 1,861,819 | ||||||||||
Moog, Inc. | ||||||||||||
4.25%, 12/15/27(10) | 955 | 977,729 | ||||||||||
Spirit AeroSystems, Inc. | ||||||||||||
7.50%, 4/15/25(10) | 741 | 751,656 |
21 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Aerospace and Defense (continued) | ||||||||||||
TransDigm UK Holdings PLC | ||||||||||||
6.875%, 5/15/26 | 725 | $ | 730,818 | |||||||||
TransDigm, Inc. | ||||||||||||
6.50%, 7/15/24 | 4,410 | 4,409,735 | ||||||||||
6.50%, 5/15/25 | 185 | 184,769 | ||||||||||
6.25%, 3/15/26(10) | 2,408 | 2,527,930 | ||||||||||
7.50%, 3/15/27 | 1,862 | 1,936,480 | ||||||||||
5.50%, 11/15/27 | 2,052 | 1,975,973 | ||||||||||
$ | 19,243,645 | |||||||||||
Agriculture — 0.0%(8) | ||||||||||||
Tereos Finance Groupe I S.A. | ||||||||||||
4.125%, 6/16/23(9) | EUR | 100 | $ | 108,994 | ||||||||
$ | 108,994 | |||||||||||
Air Transport — 0.4% | ||||||||||||
Azul Investments LLP | ||||||||||||
5.875%, 10/26/24(10) | 1,030 | $ | 774,570 | |||||||||
Delta Air Lines, Inc. | ||||||||||||
7.375%, 1/15/26 | 1,266 | 1,328,934 | ||||||||||
Delta Air Lines, Inc./SkyMiles IP, Ltd. | ||||||||||||
4.50%, 10/20/25(10) | 681 | 699,466 | ||||||||||
4.75%, 10/20/28(10) | 683 | 709,625 | ||||||||||
Mileage Plus Holdings, LLC/Mileage Plus Intellectual Property Assets, Ltd. | ||||||||||||
6.50%, 6/20/27(10) | 2,418 | 2,523,787 | ||||||||||
$ | 6,036,382 | |||||||||||
Automotive — 1.5% | ||||||||||||
Adient Global Holdings, Ltd. | ||||||||||||
3.50%, 8/15/24(9) | EUR | 150 | $ | 162,624 | ||||||||
Clarios Global, L.P. | ||||||||||||
6.75%, 5/15/25(10) | 480 | 505,954 | ||||||||||
4.375%, 5/15/26(9) | EUR | 300 | 353,933 | |||||||||
6.25%, 5/15/26(10) | 1,671 | 1,755,260 | ||||||||||
8.50%, 5/15/27(10) | 3,233 | 3,359,572 | ||||||||||
Faurecia S.E. | ||||||||||||
3.75%, 6/15/28(9) | EUR | 260 | 304,299 | |||||||||
Fiat Chrysler Automobiles N.V. | ||||||||||||
4.50%, 7/7/28(9) | EUR | 420 | 561,847 | |||||||||
Ford Motor Co. | ||||||||||||
8.50%, 4/21/23 | 2,361 | 2,577,256 | ||||||||||
9.00%, 4/22/25 | 2,833 | 3,251,703 | ||||||||||
9.625%, 4/22/30 | 1,184 | 1,530,740 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Automotive (continued) | ||||||||||||
Ford Motor Co. (continued) | ||||||||||||
7.45%, 7/16/31 | 993 | $ | 1,140,644 | |||||||||
4.75%, 1/15/43 | 274 | 248,600 | ||||||||||
Frigoglass Finance B.V. | ||||||||||||
6.875%, 2/12/25(9) | EUR | 100 | 79,131 | |||||||||
General Motors Co. | ||||||||||||
5.00%, 4/1/35 | 1,495 | 1,623,915 | ||||||||||
GKN Holdings, Ltd. | ||||||||||||
4.625%, 5/12/32(9) | GBP | 120 | 149,801 | |||||||||
IAA, Inc. | ||||||||||||
5.50%, 6/15/27(10) | 444 | 463,148 | ||||||||||
Jaguar Land Rover Automotive PLC | ||||||||||||
6.875%, 11/15/26(9) | EUR | 100 | 107,572 | |||||||||
Lithia Motors, Inc. | ||||||||||||
4.625%, 12/15/27(10) | 514 | 531,990 | ||||||||||
4.375%, 1/15/31(10)(11) | 333 | 333,000 | ||||||||||
LKQ European Holdings B.V. | ||||||||||||
3.625%, 4/1/26(9) | EUR | 125 | 148,819 | |||||||||
Navistar International Corp. | ||||||||||||
9.50%, 5/1/25(10) | 954 | 1,073,279 | ||||||||||
6.625%, 11/1/25(10) | 1,572 | 1,616,212 | ||||||||||
RAC Bond Co. PLC | ||||||||||||
5.00%, 11/6/22(9) | GBP | 150 | 187,657 | |||||||||
Renault S.A. | ||||||||||||
1.25%, 6/24/25(9) | EUR | 300 | 324,925 | |||||||||
ZF North America Capital, Inc. | ||||||||||||
4.50%, 4/29/22(10) | 392 | 403,288 | ||||||||||
4.75%, 4/29/25(10) | 200 | 204,988 | ||||||||||
$ | 23,000,157 | |||||||||||
Banks and Thrifts — 1.1% | ||||||||||||
Banco Comercial Portugues S.A. | ||||||||||||
4.50% to 12/7/22, 12/7/27(9)(12) | EUR | 500 | $ | 565,662 | ||||||||
Banco Mercantil del Norte S.A./Grand Cayman | ||||||||||||
5.75% to 10/4/26, 10/4/31(10)(12) | 1,160 | 1,175,590 | ||||||||||
Bank of Montreal | ||||||||||||
3.803% to 12/15/27, 12/15/32(12) | 1,325 | 1,477,136 | ||||||||||
BankUnited, Inc. | ||||||||||||
5.125%, 6/11/30 | 1,000 | 1,100,563 | ||||||||||
BBVA Bancomer S.A. | ||||||||||||
5.125% to 1/18/28, 1/18/33(10)(12) | 2,590 | 2,497,149 | ||||||||||
Commonwealth Bank of Australia | ||||||||||||
3.61% to 9/12/29, 9/12/34(10)(12) | 1,500 | 1,634,881 | ||||||||||
Danske Bank A/S | ||||||||||||
1.621% to 9/11/25, 9/11/26(10)(12) | 1,086 | 1,077,907 |
22 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Banks and Thrifts (continued) | ||||||||||||
Deutsche Bank AG/New York, NY | ||||||||||||
2.222% to 9/18/23, 9/18/24(12) | 720 | $ | 725,243 | |||||||||
First Midwest Bancorp, Inc. | ||||||||||||
5.875%, 9/29/26 | 1,000 | 1,106,499 | ||||||||||
Flagstar Bancorp, Inc. | ||||||||||||
6.125%, 7/15/21 | 650 | 660,946 | ||||||||||
Nationwide Building Society | ||||||||||||
4.125% to 10/18/27, 10/18/32(10)(12) | 1,280 | 1,363,826 | ||||||||||
Santander Holdings USA, Inc. | ||||||||||||
3.45%, 6/2/25 | 1,030 | 1,100,338 | ||||||||||
Wells Fargo & Co. | ||||||||||||
3.584% to 5/22/27, 5/22/28(12) | 1,500 | 1,680,341 | ||||||||||
$ | 16,166,081 | |||||||||||
Beverage and Tobacco — 0.1% | ||||||||||||
Altria Group, Inc. | ||||||||||||
3.875%, 9/16/46 | 650 | $ | 666,812 | |||||||||
Coca-Cola Co. (The) | ||||||||||||
2.75%, 6/1/60 | 500 | 506,085 | ||||||||||
Vector Group, Ltd. | ||||||||||||
6.125%, 2/1/25(10) | 500 | 499,950 | ||||||||||
$ | 1,672,847 | |||||||||||
Brokerage / Securities Dealers / Investment Houses — 0.1% | ||||||||||||
Alliance Data Systems Corp. | ||||||||||||
4.75%, 12/15/24(10) | 1,071 | $ | 1,005,856 | |||||||||
Intrum AB | ||||||||||||
3.50%, 7/15/26(9) | EUR | 200 | 214,060 | |||||||||
Neuberger Berman Group, LLC/Neuberger Berman Finance Corp. | ||||||||||||
4.875%, 4/15/45(10) | 688 | 763,563 | ||||||||||
$ | 1,983,479 | |||||||||||
Building and Development — 1.3% | ||||||||||||
ADLER Real Estate AG | ||||||||||||
1.875%, 4/27/23(9) | EUR | 300 | $ | 340,671 | ||||||||
AT Securities B.V. | ||||||||||||
5.25% to 7/21/23(9)(12)(13) | 250 | 250,938 | ||||||||||
Boise Cascade Co. | ||||||||||||
4.875%, 7/1/30(10) | 707 | 760,025 | ||||||||||
Brookfield Property REIT, Inc./BPR Cumulus, LLC/ BPR Nimbus, LLC/GGSI Sellco, LLC | ||||||||||||
5.75%, 5/15/26(10) | 1,592 | 1,257,593 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Building and Development (continued) | ||||||||||||
Brookfield Residential Properties, Inc./Brookfield Residential U.S. Corp. | ||||||||||||
6.25%, 9/15/27(10) | 378 | $ | 381,893 | |||||||||
4.875%, 2/15/30(10) | 697 | 653,054 | ||||||||||
Builders FirstSource, Inc. | ||||||||||||
6.75%, 6/1/27(10) | 852 | 913,770 | ||||||||||
5.00%, 3/1/30(10) | 510 | 528,806 | ||||||||||
Cemex SAB de CV | ||||||||||||
7.375%, 6/5/27(10) | 200 | 216,379 | ||||||||||
Cornerstone Building Brands, Inc. | ||||||||||||
6.125%, 1/15/29(10) | 355 | 359,659 | ||||||||||
CyrusOne, L.P./CyrusOne Finance Corp. | ||||||||||||
3.45%, 11/15/29 | 562 | 609,913 | ||||||||||
Five Point Operating Co., L.P./Five Point Capital Corp. | ||||||||||||
7.875%, 11/15/25(10) | 1,213 | 1,215,426 | ||||||||||
Greystar Real Estate Partners, LLC | ||||||||||||
5.75%, 12/1/25(10) | 2,076 | 2,101,950 | ||||||||||
Hillman Group, Inc. (The) | ||||||||||||
6.375%, 7/15/22(10) | 2,695 | 2,643,836 | ||||||||||
HT Troplast GmbH | ||||||||||||
9.25%, 7/15/25(9) | EUR | 115 | 143,906 | |||||||||
James Hardie International Finance DAC | ||||||||||||
3.625%, 10/1/26(9) | EUR | 200 | 239,404 | |||||||||
Masonite International Corp. | ||||||||||||
5.375%, 2/1/28(10) | 570 | 609,837 | ||||||||||
Miller Homes Group Holdings PLC | ||||||||||||
5.50%, 10/15/24(9) | GBP | 100 | 127,540 | |||||||||
Shea Homes, L.P./Shea Homes Funding Corp. | ||||||||||||
4.75%, 2/15/28(10) | 1,423 | 1,422,780 | ||||||||||
4.75%, 4/1/29(10) | 440 | 439,725 | ||||||||||
Standard Industries, Inc. | ||||||||||||
2.25%, 11/21/26(9) | EUR | 250 | 281,280 | |||||||||
5.00%, 2/15/27(10) | 457 | 476,608 | ||||||||||
4.375%, 7/15/30(10) | 1,146 | 1,176,713 | ||||||||||
Taylor Morrison Communities, Inc. | ||||||||||||
5.875%, 6/15/27(10) | 808 | 892,662 | ||||||||||
5.75%, 1/15/28(10) | 1,062 | 1,164,403 | ||||||||||
5.125%, 8/1/30(10) | 685 | 734,234 | ||||||||||
TRI Pointe Group, Inc./TRI Pointe Homes, Inc. | ||||||||||||
5.875%, 6/15/24 | 280 | 303,275 | ||||||||||
5.70%, 6/15/28 | 385 | 422,538 | ||||||||||
$ | 20,668,818 |
23 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Business Equipment and Services — 1.3% | ||||||||||||
Allied Universal Holdco, LLC | ||||||||||||
6.625%, 7/15/26(10) | 1,274 | $ | 1,358,402 | |||||||||
9.75%, 7/15/27(10) | 845 | 919,580 | ||||||||||
EIG Investors Corp. | ||||||||||||
10.875%, 2/1/24 | 5,445 | 5,682,647 | ||||||||||
Garda World Security Corp. | ||||||||||||
9.50%, 11/1/27(10) | 2,416 | 2,540,883 | ||||||||||
Iron Mountain, Inc. | ||||||||||||
5.00%, 7/15/28(10) | 94 | 96,467 | ||||||||||
5.25%, 7/15/30(10) | 1,164 | 1,215,652 | ||||||||||
4.50%, 2/15/31(10) | 1,431 | 1,441,575 | ||||||||||
5.625%, 7/15/32(10) | 792 | 837,433 | ||||||||||
ServiceMaster Co., LLC (The) | ||||||||||||
7.45%, 8/15/27 | 4,075 | 4,461,351 | ||||||||||
Techem Verwaltungsgesellschaft 674 mbH | ||||||||||||
6.00%, 7/30/26(9) | EUR | 200 | 240,030 | |||||||||
United Rentals North America, Inc. | ||||||||||||
3.875%, 2/15/31 | 440 | 447,425 | ||||||||||
$ | 19,241,445 | |||||||||||
Cable and Satellite Television — 3.5% | ||||||||||||
Altice France S.A. | ||||||||||||
7.375%, 5/1/26(10) | 1,249 | $ | 1,310,139 | |||||||||
8.125%, 2/1/27(10) | 4,904 | 5,349,553 | ||||||||||
5.50%, 1/15/28(10) | 841 | 852,564 | ||||||||||
5.125%, 1/15/29(10) | 686 | 685,777 | ||||||||||
CCO Holdings, LLC/CCO Holdings Capital Corp. | ||||||||||||
5.375%, 5/1/25(10) | 3,605 | 3,713,150 | ||||||||||
5.75%, 2/15/26(10) | 1,885 | 1,962,756 | ||||||||||
5.00%, 2/1/28(10) | 1,755 | 1,846,699 | ||||||||||
5.375%, 6/1/29(10) | 595 | 645,510 | ||||||||||
4.75%, 3/1/30(10) | 1,789 | 1,896,340 | ||||||||||
4.50%, 8/15/30(10) | 1,640 | 1,724,132 | ||||||||||
4.25%, 2/1/31(10) | 1,739 | 1,804,995 | ||||||||||
4.50%, 5/1/32(10) | 771 | 805,695 | ||||||||||
Charter Communications Operating, LLC/Charter Communications Operating Capital | ||||||||||||
4.80%, 3/1/50 | 975 | 1,119,890 | ||||||||||
CSC Holdings, LLC | ||||||||||||
6.75%, 11/15/21 | 2,780 | 2,918,778 | ||||||||||
5.875%, 9/15/22 | 1,085 | 1,149,422 | ||||||||||
5.25%, 6/1/24 | 355 | 381,403 | ||||||||||
5.50%, 5/15/26(10) | 2,000 | 2,082,500 | ||||||||||
7.50%, 4/1/28(10) | 619 | 684,685 | ||||||||||
6.50%, 2/1/29(10) | 543 | 606,463 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Cable and Satellite Television (continued) | ||||||||||||
CSC Holdings, LLC (continued) | ||||||||||||
5.75%, 1/15/30(10) | 5,848 | $ | 6,222,067 | |||||||||
4.625%, 12/1/30(10) | 1,585 | 1,594,692 | ||||||||||
3.375%, 2/15/31(10) | 912 | 884,184 | ||||||||||
DISH DBS Corp. | ||||||||||||
6.75%, 6/1/21 | 410 | 420,660 | ||||||||||
5.875%, 7/15/22 | 2,395 | 2,493,195 | ||||||||||
5.875%, 11/15/24 | 530 | 546,562 | ||||||||||
Radiate Holdco, LLC/Radiate Finance, Inc. | ||||||||||||
6.50%, 9/15/28(10) | 1,165 | 1,197,489 | ||||||||||
TEGNA, Inc. | ||||||||||||
4.75%, 3/15/26(10) | 440 | 450,428 | ||||||||||
4.625%, 3/15/28(10) | 372 | 364,672 | ||||||||||
5.00%, 9/15/29(10) | 766 | 757,145 | ||||||||||
UPC Holding B.V. | ||||||||||||
5.50%, 1/15/28(10) | 593 | 613,384 | ||||||||||
UPCB Finance VII, Ltd. | ||||||||||||
3.625%, 6/15/29(9) | EUR | 300 | 353,554 | |||||||||
Virgin Media Finance PLC | ||||||||||||
5.00%, 7/15/30(10) | 946 | 942,452 | ||||||||||
Virgin Media Secured Finance PLC | ||||||||||||
5.50%, 8/15/26(10) | 1,163 | 1,214,608 | ||||||||||
5.00%, 4/15/27(9) | GBP | 100 | 135,457 | |||||||||
Virgin Media Vendor Financing Notes III DAC | ||||||||||||
4.875%, 7/15/28(9) | GBP | 500 | 652,804 | |||||||||
Ziggo B.V. | ||||||||||||
5.50%, 1/15/27(10) | 1,808 | 1,897,216 | ||||||||||
4.875%, 1/15/30(10) | 802 | 831,574 | ||||||||||
Ziggo Bond Co., B.V. | ||||||||||||
6.00%, 1/15/27(10) | 745 | 772,006 | ||||||||||
3.375%, 2/28/30(9) | EUR | 230 | 257,340 | |||||||||
$ | 54,141,940 | |||||||||||
Capital Goods — 0.2% | ||||||||||||
BWX Technologies, Inc. | ||||||||||||
5.375%, 7/15/26(10) | 1,305 | $ | 1,360,215 | |||||||||
4.125%, 6/30/28(10) | 948 | 972,292 | ||||||||||
Valmont Industries, Inc. | ||||||||||||
5.25%, 10/1/54 | 610 | 663,755 | ||||||||||
$ | 2,996,262 | |||||||||||
Chemicals and Plastics — 0.6% | ||||||||||||
Alpek SAB de CV | ||||||||||||
4.25%, 9/18/29(10) | 310 | $ | 306,520 |
24 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Chemicals and Plastics (continued) | ||||||||||||
Huntsman International, LLC | ||||||||||||
4.50%, 5/1/29 | 500 | $ | 562,503 | |||||||||
K+S AG | ||||||||||||
2.625%, 4/6/23(9) | EUR | 100 | 111,323 | |||||||||
Nufarm Australia, Ltd./Nufarm Americas, Inc. | ||||||||||||
5.75%, 4/30/26(10) | 1,800 | 1,842,588 | ||||||||||
OCI N.V. | ||||||||||||
5.00%, 4/15/23(9) | EUR | 200 | 240,815 | |||||||||
3.125%, 11/1/24(9) | EUR | 200 | 233,890 | |||||||||
3.625%, 10/15/25(9)(11) | EUR | 100 | 117,245 | |||||||||
SPCM S.A. | ||||||||||||
4.875%, 9/15/25(10) | 1,356 | 1,407,650 | ||||||||||
2.625%, 2/1/29(9) | EUR | 300 | 350,993 | |||||||||
Synthomer PLC | ||||||||||||
3.875%, 7/1/25(9) | EUR | 200 | 239,637 | |||||||||
Univar Solutions USA, Inc. | ||||||||||||
5.125%, 12/1/27(10) | 360 | 370,058 | ||||||||||
Valvoline, Inc. | ||||||||||||
4.25%, 2/15/30(10) | 790 | 806,985 | ||||||||||
W.R. Grace & Co. | ||||||||||||
4.875%, 6/15/27(10) | 1,146 | 1,185,623 | ||||||||||
Westlake Chemical Corp. | ||||||||||||
5.00%, 8/15/46 | 710 | 831,440 | ||||||||||
$ | 8,607,270 | |||||||||||
Clothing / Textiles — 0.4% | ||||||||||||
Hanesbrands Finance Luxembourg SCA | ||||||||||||
3.50%, 6/15/24(9) | EUR | 300 | $ | 366,826 | ||||||||
PrestigeBidCo GmbH | ||||||||||||
6.25%, 12/15/23(9) | EUR | 265 | 317,063 | |||||||||
PVH Corp. | ||||||||||||
7.75%, 11/15/23 | 3,740 | 4,305,242 | ||||||||||
William Carter Co. (The) | ||||||||||||
5.50%, 5/15/25(10) | 331 | 347,343 | ||||||||||
5.625%, 3/15/27(10) | 811 | 848,509 | ||||||||||
$ | 6,184,983 | |||||||||||
Commercial Services — 0.7% | ||||||||||||
AMN Healthcare, Inc. | ||||||||||||
4.625%, 10/1/27(10) | 458 | $ | 470,309 | |||||||||
Autostrade per l’Italia SpA | ||||||||||||
6.25%, 6/9/22 | GBP | 250 | 341,145 | |||||||||
Avis Budget Car Rental, LLC/Avis Budget Finance, Inc. | ||||||||||||
6.375%, 4/1/24(10) | 225 | 214,380 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Commercial Services (continued) | ||||||||||||
Avis Budget Car Rental, LLC/Avis Budget Finance, Inc. (continued) | ||||||||||||
5.25%, 3/15/25(10) | 685 | $ | 625,885 | |||||||||
5.75%, 7/15/27(10) | 1,215 | 1,096,788 | ||||||||||
Block Financial, LLC | ||||||||||||
3.875%, 8/15/30 | 488 | 491,186 | ||||||||||
Ellaktor Value PLC | ||||||||||||
6.375%, 12/15/24(9) | EUR | 3,007 | 3,078,058 | |||||||||
6.375%, 12/15/24(10) | EUR | 226 | 230,254 | |||||||||
Intertrust Group B.V. | ||||||||||||
3.375%, 11/15/25(9) | EUR | 340 | 407,554 | |||||||||
Korn Ferry | ||||||||||||
4.625%, 12/15/27(10) | 355 | 360,325 | ||||||||||
Loxam S.A.S. | ||||||||||||
3.25%, 1/14/25(9) | EUR | 200 | 223,303 | |||||||||
Nexi SpA | ||||||||||||
1.75%, 10/31/24(9) | EUR | 200 | 232,079 | |||||||||
Nielsen Finance, LLC/Nielsen Finance Co. | ||||||||||||
5.625%, 10/1/28(10) | 447 | 460,410 | ||||||||||
5.875%, 10/1/30(10) | 447 | 463,483 | ||||||||||
Q-Park Holding I B.V. | ||||||||||||
2.00%, 3/1/27(9) | EUR | 300 | 315,506 | |||||||||
Sisal Pay SpA | ||||||||||||
3.875%, (3 mo. EURIBOR + 3.875%), 12/17/26(9)(14) | EUR | 110 | 125,987 | |||||||||
Verisure Holding AB | ||||||||||||
3.50%, 5/15/23(9) | EUR | 140 | 165,514 | |||||||||
Verisure Midholding AB | ||||||||||||
5.75%, 12/1/23(9) | EUR | 200 | 235,175 | |||||||||
Verscend Escrow Corp. | ||||||||||||
9.75%, 8/15/26(10) | 382 | 416,300 | ||||||||||
$ | 9,953,641 | |||||||||||
Computers — 0.4% | ||||||||||||
Booz Allen Hamilton, Inc. | ||||||||||||
3.875%, 9/1/28(10) | 1,341 | $ | 1,379,118 | |||||||||
DXC Technology Co. | ||||||||||||
4.75%, 4/15/27 | 1,000 | 1,114,794 | ||||||||||
HP, Inc. | ||||||||||||
3.40%, 6/17/30 | 1,000 | 1,074,263 | ||||||||||
International Business Machines Corp. | ||||||||||||
2.95%, 5/15/50 | 500 | 521,473 | ||||||||||
Presidio Holdings, Inc. | ||||||||||||
8.25%, 2/1/28(10) | 1,005 | 1,055,878 |
25 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Computers (continued) | ||||||||||||
Seagate HDD Cayman | ||||||||||||
5.75%, 12/1/34 | 995 | $ | 1,131,934 | |||||||||
$ | 6,277,460 | |||||||||||
Conglomerates — 0.3% | ||||||||||||
Spectrum Brands, Inc. | ||||||||||||
5.75%, 7/15/25 | 3,470 | $ | 3,586,245 | |||||||||
5.00%, 10/1/29(10) | 406 | 422,240 | ||||||||||
5.50%, 7/15/30(10) | 691 | 730,301 | ||||||||||
TMS International Holding Corp. | ||||||||||||
7.25%, 8/15/25(10) | 543 | 509,741 | ||||||||||
$ | 5,248,527 | |||||||||||
Consumer Products — 0.1% | ||||||||||||
Central Garden & Pet Co. | ||||||||||||
6.125%, 11/15/23 | 575 | $ | 587,877 | |||||||||
5.125%, 2/1/28 | 285 | 300,265 | ||||||||||
$ | 888,142 | |||||||||||
Containers and Glass Products — 0.3% | ||||||||||||
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc. | ||||||||||||
2.125%, 8/15/26(9) | EUR | 100 | $ | 114,297 | ||||||||
5.25%, 8/15/27(10) | 1,661 | 1,694,220 | ||||||||||
Berry Global, Inc. | ||||||||||||
6.00%, 10/15/22 | 485 | 487,207 | ||||||||||
Crown Americas, LLC/Crown Americas Capital Corp. V | ||||||||||||
4.25%, 9/30/26 | 660 | 685,988 | ||||||||||
Crown Americas, LLC/Crown Americas Capital Corp. VI | ||||||||||||
4.75%, 2/1/26 | 750 | 780,795 | ||||||||||
Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC | ||||||||||||
5.125%, 7/15/23(10) | 548 | 555,124 | ||||||||||
Smurfit Kappa Acquisitions ULC | ||||||||||||
2.375%, 2/1/24(9) | EUR | 200 | 243,842 | |||||||||
2.875%, 1/15/26(9) | EUR | 100 | 125,269 | |||||||||
$ | 4,686,742 | |||||||||||
Cosmetics / Toiletries — 0.1% | ||||||||||||
Edgewell Personal Care Co. | ||||||||||||
5.50%, 6/1/28(10) | 1,067 | $ | 1,124,207. |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Cosmetics / Toiletries (continued) | ||||||||||||
Prestige Brands, Inc. | ||||||||||||
5.125%, 1/15/28(10) | 357 | $ | 369,495 | |||||||||
Procter & Gamble Co. (The) | ||||||||||||
3.60%, 3/25/50 | 500 | 636,599 | ||||||||||
$ | 2,130,301 | |||||||||||
Distribution & Wholesale — 0.1% | ||||||||||||
LKQ Italia Bondco SpA | ||||||||||||
3.875%, 4/1/24(9) | EUR | 200 | $ | 247,034 | ||||||||
Parts Europe S.A. | ||||||||||||
4.375%, (3 mo. EURIBOR + 4.375%), | EUR | 447 | 517,828 | |||||||||
Performance Food Group, Inc. | ||||||||||||
5.50%, 10/15/27(10) | 935 | 964,761 | ||||||||||
Travis Perkins PLC | ||||||||||||
4.50%, 9/7/23(9) | GBP | 175 | 228,893 | |||||||||
$ | 1,958,516 | |||||||||||
Diversified Financial Services — 1.4% | ||||||||||||
AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||||||||||||
4.50%, 9/15/23 | 693 | $ | 714,624 | |||||||||
6.50%, 7/15/25 | 159 | 171,862 | ||||||||||
Affiliated Managers Group, Inc. | ||||||||||||
3.30%, 6/15/30 | 849 | 908,706 | ||||||||||
AG Issuer, LLC | ||||||||||||
6.25%, 3/1/28(10) | 1,117 | 1,114,208 | ||||||||||
Arrow Global Finance PLC | ||||||||||||
2.875%, (3 mo. EURIBOR + 2.875%), | EUR | 250 | 275,177 | |||||||||
Barclays PLC | ||||||||||||
5.088% to 6/20/29, 6/20/30(12) | 1,000 | 1,127,705 | ||||||||||
BrightSphere Investment Group, Inc. | ||||||||||||
4.80%, 7/27/26 | 2,195 | 2,331,146 | ||||||||||
Cabot Financial Luxembourg S.A. | ||||||||||||
7.50%, 10/1/23(9) | GBP | 100 | 130,701 | |||||||||
Cabot Financial Luxembourg II S.A. | ||||||||||||
6.375%, (3 mo. EURIBOR + 6.375%), 6/14/24(9)(14) | EUR | 500 | 589,631 | |||||||||
Discover Bank | ||||||||||||
4.682% to 8/9/23, 8/9/28(12) | 1,000 | 1,049,155 | ||||||||||
GEMS MENASA Cayman, Ltd./GEMS Education Delaware, LLC | ||||||||||||
7.125%, 7/31/26(9) | 350 | 347,375 | ||||||||||
7.125%, 7/31/26(10) | 2,279 | 2,261,908 |
26 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Diversified Financial Services (continued) | ||||||||||||
Grupo KUO SAB de CV | ||||||||||||
5.75%, 7/7/27(10) | 750 | $ | 733,305 | |||||||||
Lincoln Financing S.a.r.l. | ||||||||||||
3.625%, 4/1/24(9) | EUR | 145 | 164,123 | |||||||||
Louvre Bidco S.A.S. | ||||||||||||
6.50%, 9/30/24(9)(11) | EUR | 400 | 469,683 | |||||||||
Nationstar Mortgage Holdings, Inc. | ||||||||||||
5.50%, 8/15/28(10) | 71 | 71,044 | ||||||||||
PRA Group, Inc. | ||||||||||||
7.375%, 9/1/25(10) | 1,353 | 1,414,399 | ||||||||||
Quicken Loans, LLC/Quicken Loans Co-Issuer, Inc. | ||||||||||||
3.625%, 3/1/29(10) | 1,188 | 1,179,833 | ||||||||||
Stifel Financial Corp. | ||||||||||||
4.00%, 5/15/30 | 769 | 851,695 | ||||||||||
UniCredit SpA | ||||||||||||
5.861% to 6/19/27, 6/19/32(10)(12) | 715 | 762,254 | ||||||||||
7.296% to 4/2/29, 4/2/34(10)(12) | 500 | 575,345 | ||||||||||
Unifin Financiera SAB de CV | ||||||||||||
7.375%, 2/12/26(10) | 620 | 499,106 | ||||||||||
Vivion Investments S.a.r.l. | ||||||||||||
3.00%, 8/8/24(9) | EUR | 3,400 | 3,512,953 | |||||||||
3.50%, 11/1/25(9) | EUR | 200 | 204,581 | |||||||||
$ | 21,460,519 | |||||||||||
Drugs — 1.8% | ||||||||||||
AdaptHealth, LLC | ||||||||||||
6.125%, 8/1/28(10) | 685 | $ | 710,825 | |||||||||
Bausch Health Americas, Inc. | ||||||||||||
9.25%, 4/1/26(10) | 670 | 737,871 | ||||||||||
8.50%, 1/31/27(10) | 3,076 | 3,384,108 | ||||||||||
Bausch Health Companies, Inc. | ||||||||||||
5.50%, 3/1/23(10) | 198 | 197,876 | ||||||||||
5.875%, 5/15/23(10) | 57 | 56,759 | ||||||||||
7.00%, 3/15/24(10) | 3,810 | 3,947,160 | ||||||||||
6.125%, 4/15/25(10) | 345 | 353,539 | ||||||||||
5.50%, 11/1/25(10) | 955 | 978,636 | ||||||||||
9.00%, 12/15/25(10) | 2,340 | 2,551,302 | ||||||||||
5.75%, 8/15/27(10) | 412 | 438,008 | ||||||||||
7.00%, 1/15/28(10) | 2,092 | 2,215,825 | ||||||||||
5.00%, 1/30/28(10) | 1,051 | 1,022,097 | ||||||||||
6.25%, 2/15/29(10) | 1,508 | 1,553,240 | ||||||||||
7.25%, 5/30/29(10) | 544 | 586,397 | ||||||||||
5.25%, 1/30/30(10) | 2,106 | 2,077,316 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Drugs (continued) | ||||||||||||
Catalent Pharma Solutions, Inc. | ||||||||||||
4.875%, 1/15/26(10) | 2,700 | $ | 2,763,612 | |||||||||
5.00%, 7/15/27(10) | 656 | 683,349 | ||||||||||
2.375%, 3/1/28(9) | EUR | 1,374 | 1,553,556 | |||||||||
Jaguar Holding Co. II/PPD Development, L.P. | ||||||||||||
4.625%, 6/15/25(10) | 1,159 | 1,195,659 | ||||||||||
5.00%, 6/15/28(10) | 1,022 | 1,067,990 | ||||||||||
Nidda Healthcare Holding GmbH | ||||||||||||
3.50%, 9/30/24(9) | EUR | 124 | 142,251 | |||||||||
$ | 28,217,376 | |||||||||||
Ecological Services and Equipment — 0.6% | ||||||||||||
Clean Harbors, Inc. | ||||||||||||
4.875%, 7/15/27(10) | 551 | $ | 572,594 | |||||||||
5.125%, 7/15/29(10) | 332 | 361,151 | ||||||||||
Covanta Holding Corp. | ||||||||||||
5.875%, 7/1/25 | 860 | 892,160 | ||||||||||
5.00%, 9/1/30 | 841 | 849,873 | ||||||||||
GFL Environmental, Inc. | ||||||||||||
3.75%, 8/1/25(10) | 776 | 775,515 | ||||||||||
7.00%, 6/1/26(10) | 1,870 | 1,974,860 | ||||||||||
8.50%, 5/1/27(10) | 2,822 | 3,067,161 | ||||||||||
Waste Pro USA, Inc. | ||||||||||||
5.50%, 2/15/26(10) | 446 | 452,643 | ||||||||||
$ | 8,945,957 | |||||||||||
Electric Utilities — 0.8% | ||||||||||||
Clearway Energy Operating, LLC | ||||||||||||
4.75%, 3/15/28(10) | 460 | $ | 477,683 | |||||||||
Consolidated Edison Co. of New York, Inc. | ||||||||||||
4.125%, 5/15/49 | 400 | 480,267 | ||||||||||
ContourGlobal Power Holdings S.A. | ||||||||||||
4.125%, 8/1/25(9) | EUR | 200 | 237,544 | |||||||||
Drax Finco PLC | ||||||||||||
6.625%, 11/1/25(10) | 806 | 840,255 | ||||||||||
Duke Energy Indiana, LLC | ||||||||||||
2.75%, 4/1/50 | 500 | 512,970 | ||||||||||
Duquesne Light Holdings, Inc. | ||||||||||||
2.532%, 10/1/30(10) | 492 | 494,249 | ||||||||||
Edison International | ||||||||||||
3.55%, 11/15/24 | 614 | 647,964 | ||||||||||
EDP - Energias de Portugal S.A. | ||||||||||||
4.496% to 4/30/24, 4/30/79(9)(12) | EUR | 300 | 380,531 |
27 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Electric Utilities (continued) | ||||||||||||
Liberty Utilities Finance GP 1 | ||||||||||||
2.05%, 9/15/30(10) | 526 | $ | 519,790 | |||||||||
Orano S.A. | ||||||||||||
4.875%, 9/23/24 | EUR | 200 | 260,582 | |||||||||
Pattern Energy Operations, L.P./Pattern Energy Operations, Inc. | ||||||||||||
4.50%, 8/15/28(10) | 705 | 732,759 | ||||||||||
Pike Corp. | ||||||||||||
5.50%, 9/1/28(10) | 890 | 898,290 | ||||||||||
Southern California Edison Co. | ||||||||||||
4.00%, 4/1/47 | 845 | 906,291 | ||||||||||
Southern Co. (The) | ||||||||||||
4.40%, 7/1/46 | 971 | 1,154,760 | ||||||||||
TenneT Holding B.V. | ||||||||||||
2.995% to 6/1/24(9)(12)(13) | EUR | 350 | 428,126 | |||||||||
Virginia Electric & Power Co. | ||||||||||||
4.00%, 1/15/43 | 410 | 502,403 | ||||||||||
WESCO Distribution, Inc. | ||||||||||||
7.125%, 6/15/25(10) | 1,024 | 1,116,800 | ||||||||||
7.25%, 6/15/28(10) | 915 | 1,003,828 | ||||||||||
$ | 11,595,092 | |||||||||||
Electronics / Electrical — 1.0% | ||||||||||||
Enel Finance International N.V. | ||||||||||||
3.625%, 5/25/27(10) | 2,310 | $ | 2,571,212 | |||||||||
Energizer Holdings, Inc. | ||||||||||||
7.75%, 1/15/27(10) | 657 | 719,004 | ||||||||||
4.375%, 3/31/29(10) | 707 | 715,838 | ||||||||||
Engie Energia Chile S.A. | ||||||||||||
3.40%, 1/28/30(10) | 960 | 1,038,000 | ||||||||||
Entegris, Inc. | ||||||||||||
4.625%, 2/10/26(10) | 517 | 529,827 | ||||||||||
4.375%, 4/15/28(10) | 963 | 992,492 | ||||||||||
Go Daddy Operating Co., LLC/GD Finance Co., Inc. | ||||||||||||
5.25%, 12/1/27(10) | 1,249 | 1,302,438 | ||||||||||
Ingram Micro, Inc. | ||||||||||||
5.45%, 12/15/24 | 1,889 | 2,019,299 | ||||||||||
Jabil, Inc. | ||||||||||||
3.95%, 1/12/28 | 171 | 187,156 | ||||||||||
3.00%, 1/15/31 | 869 | 888,888 | ||||||||||
Open Text Corp. | ||||||||||||
3.875%, 2/15/28(10) | 1,009 | 1,022,400 | ||||||||||
Open Text Holdings, Inc. | ||||||||||||
4.125%, 2/15/30(10) | 883 | 909,737 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Electronics / Electrical (continued) | ||||||||||||
RWE AG | ||||||||||||
6.625% to 3/30/26, 7/30/75(9)(12) | 266 | $ | 305,999 | |||||||||
Sensata Technologies, Inc. | ||||||||||||
4.375%, 2/15/30(10) | 627 | 659,936 | ||||||||||
3.75%, 2/15/31(10) | 680 | 677,450 | ||||||||||
SS&C Technologies, Inc. | ||||||||||||
5.50%, 9/30/27(10) | 517 | 550,072 | ||||||||||
Trimble, Inc. | ||||||||||||
4.90%, 6/15/28 | 699 | 825,476 | ||||||||||
$ | 15,915,224 | |||||||||||
Energy — 0.4% | ||||||||||||
Empresa Electrica Cochrane SpA | ||||||||||||
5.50%, 5/14/27(10) | 2,136 | $ | 2,207,980 | |||||||||
Enviva Partners, L.P./Enviva Partners Finance Corp. | ||||||||||||
6.50%, 1/15/26(10) | 1,988 | 2,098,582 | ||||||||||
Sunoco, L.P./Sunoco Finance Corp. | ||||||||||||
4.875%, 1/15/23 | 950 | 958,213 | ||||||||||
5.50%, 2/15/26 | 412 | 412,952 | ||||||||||
$ | 5,677,727 | |||||||||||
Engineering & Construction — 0.0%(8) | ||||||||||||
Weekley Homes, LLC/Weekley Finance Corp. | ||||||||||||
4.875%, 9/15/28(10) | 396 | $ | 400,950 | |||||||||
$ | 400,950 | |||||||||||
Entertainment — 0.6% | ||||||||||||
Colt Merger Sub, Inc. | ||||||||||||
6.25%, 7/1/25(10) | 2,521 | $ | 2,631,306 | |||||||||
8.125%, 7/1/27(10) | 2,032 | 2,156,572 | ||||||||||
CPUK Finance, Ltd. | ||||||||||||
4.25%, 2/28/47(9) | GBP | 52 | 66,610 | |||||||||
4.875%, 2/28/47(9) | GBP | 135 | 163,780 | |||||||||
Live Nation Entertainment, Inc. | ||||||||||||
4.75%, 10/15/27(10) | 1,226 | 1,150,141 | ||||||||||
Pinewood Finance Co., Ltd. | ||||||||||||
3.25%, 9/30/25(9) | GBP | 450 | 580,574 | |||||||||
Powdr Corp. | ||||||||||||
6.00%, 8/1/25(10) | 1,040 | 1,067,300 | ||||||||||
Speedway Motorsports, LLC/Speedway Funding II, Inc. | ||||||||||||
4.875%, 11/1/27(10) | 871 | 838,076 | ||||||||||
$ | 8,654,359 |
28 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Equipment Leasing — 0.1% | ||||||||||||
Ashtead Capital, Inc. | ||||||||||||
4.125%, 8/15/25(10) | 1,425 | $ | 1,466,079 | |||||||||
4.25%, 11/1/29(10) | 526 | 555,139 | ||||||||||
$ | 2,021,218 | |||||||||||
Financial Intermediaries — 1.9% | ||||||||||||
Alpha Holding S.A. de CV | ||||||||||||
10.00%, 12/19/22(10) | 200 | $ | 169,750 | |||||||||
9.00%, 2/10/25(10) | 765 | 582,548 | ||||||||||
CIT Group, Inc. | ||||||||||||
6.125%, 3/9/28 | 650 | 743,314 | ||||||||||
Citigroup, Inc. | ||||||||||||
3.98% to 3/20/29, 3/20/30(12) | 1,200 | 1,384,565 | ||||||||||
FCE Bank PLC | ||||||||||||
1.875%, 6/24/21(9) | EUR | 100 | 116,470 | |||||||||
1.134%, 2/10/22(9) | EUR | 600 | 690,633 | |||||||||
Ford Motor Credit Co., LLC | ||||||||||||
3.813%, 10/12/21 | 466 | 468,039 | ||||||||||
5.596%, 1/7/22 | 1,127 | 1,155,175 | ||||||||||
1.503%, (3 mo. USD LIBOR + 1.27%), 3/28/22(14) | 230 | 219,720 | ||||||||||
3.339%, 3/28/22 | 530 | 528,927 | ||||||||||
4.25%, 9/20/22 | 500 | 505,150 | ||||||||||
3.087%, 1/9/23 | 439 | 431,089 | ||||||||||
1.515%, (3 mo. USD LIBOR + 1.24%), 2/15/23(14) | 479 | 440,923 | ||||||||||
3.37%, 11/17/23 | 1,506 | 1,486,234 | ||||||||||
5.584%, 3/18/24 | 257 | 267,688 | ||||||||||
5.125%, 6/16/25 | 938 | 968,485 | ||||||||||
4.125%, 8/17/27 | 2,739 | 2,668,813 | ||||||||||
3.815%, 11/2/27 | 587 | 560,209 | ||||||||||
Icahn Enterprises, L.P./ Icahn Enterprises Finance Corp. | ||||||||||||
6.25%, 2/1/22 | 1,606 | 1,626,549 | ||||||||||
6.375%, 12/15/25 | 820 | 845,067 | ||||||||||
6.25%, 5/15/26 | 1,615 | 1,687,417 | ||||||||||
5.25%, 5/15/27 | 1,614 | 1,686,509 | ||||||||||
JPMorgan Chase & Co. | ||||||||||||
Series S, 6.75% to 2/1/24(12)(13) | 3,325 | 3,606,518 | ||||||||||
4.60% to 2/1/25(12)(13) | 1,674 | 1,642,613 | ||||||||||
4.26% to 2/22/47, 2/22/48(12) | 1,035 | 1,305,201 | ||||||||||
MSCI, Inc. | ||||||||||||
3.625%, 9/1/30(10) | 520 | 534,300 | ||||||||||
Navient Corp. | ||||||||||||
5.00%, 10/26/20 | 995 | 996,433 | ||||||||||
7.25%, 1/25/22 | 215 | 221,245 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Financial Intermediaries (continued) | ||||||||||||
Synovus Financial Corp. | ||||||||||||
5.90% to 2/7/24, 2/7/29(12) | 1,511 | $ | 1,561,097 | |||||||||
$ | 29,100,681 | |||||||||||
Financial Services — 0.4% | ||||||||||||
Banco BTG Pactual S.A./Cayman Islands | ||||||||||||
4.50%, 1/10/25(10) | 1,100 | $ | 1,124,761 | |||||||||
Brookfield Finance, Inc. | ||||||||||||
4.70%, 9/20/47 | 1,050 | 1,226,599 | ||||||||||
Carlyle Finance Subsidiary, LLC | ||||||||||||
3.50%, 9/19/29(10) | 1,000 | 1,090,053 | ||||||||||
Debt and Asset Trading Corp. | ||||||||||||
1.00%, 10/10/25(9) | 2,600 | 2,099,500 | ||||||||||
Nordea Bank Abp | ||||||||||||
4.625% to 9/13/28, 9/13/33(10)(12) | 1,000 | 1,135,264 | ||||||||||
$ | 6,676,177 | |||||||||||
Food Products — 0.9% | ||||||||||||
JBS USA LUX S.A./JBS USA Finance, Inc. | ||||||||||||
6.75%, 2/15/28(10) | 1,350 | $ | 1,469,758 | |||||||||
JBS USA LUX S.A./JBS USA Food Co./ JBS USA Finance, Inc. | ||||||||||||
5.50%, 1/15/30(10) | 1,046 | 1,141,447 | ||||||||||
Kraft Heinz Foods Co. | ||||||||||||
3.875%, 5/15/27(10) | 1,261 | 1,345,878 | ||||||||||
4.25%, 3/1/31(10) | 1,261 | 1,386,019 | ||||||||||
4.375%, 6/1/46 | 3,059 | 3,149,756 | ||||||||||
5.50%, 6/1/50(10) | 1,261 | 1,447,907 | ||||||||||
Post Holdings, Inc. | ||||||||||||
5.00%, 8/15/26(10) | 1,377 | 1,413,814 | ||||||||||
4.625%, 4/15/30(10) | 558 | 574,740 | ||||||||||
Smithfield Foods, Inc. | ||||||||||||
2.65%, 10/3/21(10) | 550 | 553,552 | ||||||||||
Tesco PLC | ||||||||||||
6.125%, 2/24/22 | GBP | 200 | 276,320 | |||||||||
TreeHouse Foods, Inc. | ||||||||||||
4.00%, 9/1/28 | 435 | 440,766 | ||||||||||
$ | 13,199,957 | |||||||||||
Food Service — 0.6% | ||||||||||||
1011778 B.C. Unlimited Liability Company/New Red Finance, Inc. | ||||||||||||
5.75%, 4/15/25(10) | 372 | $ | 397,694 | |||||||||
5.00%, 10/15/25(10) | 1,794 | 1,842,537 |
29 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Food Service (continued) | ||||||||||||
1011778 B.C. Unlimited Liability Company/New Red Finance, Inc. (continued) | ||||||||||||
3.875%, 1/15/28(10) | 663 | $ | 676,585 | |||||||||
4.375%, 1/15/28(10) | 1,014 | 1,035,791 | ||||||||||
4.00%, 10/15/30(10)(11) | 1,141 | 1,152,649 | ||||||||||
IRB Holding Corp. | ||||||||||||
7.00%, 6/15/25(10) | 451 | 481,679 | ||||||||||
US Foods, Inc. | ||||||||||||
5.875%, 6/15/24(10) | 1,995 | 2,013,055 | ||||||||||
Yum! Brands, Inc. | ||||||||||||
7.75%, 4/1/25(10) | 304 | 336,300 | ||||||||||
3.625%, 3/15/31 | 1,119 | 1,121,098 | ||||||||||
$ | 9,057,388 | |||||||||||
Food / Drug Retailers — 0.1% | ||||||||||||
Albertsons Cos., Inc./Safeway, Inc./New Albertsons, L.P./Albertsons, LLC | ||||||||||||
5.875%, 2/15/28(10) | 1,004 | $ | 1,073,467 | |||||||||
4.875%, 2/15/30(10) | 1,042 | 1,087,327 | ||||||||||
$ | 2,160,794 | |||||||||||
Health Care — 4.3% | ||||||||||||
Acadia Healthcare Co., Inc. | ||||||||||||
5.50%, 7/1/28(10) | 980 | $ | 1,009,780 | |||||||||
5.00%, 4/15/29(10)(11) | 1,052 | 1,063,835 | ||||||||||
Amgen, Inc. | ||||||||||||
3.375%, 2/21/50 | 400 | 434,467 | ||||||||||
Anthem, Inc. | ||||||||||||
3.125%, 5/15/50 | 500 | 506,219 | ||||||||||
Avantor Funding, Inc. | ||||||||||||
4.625%, 7/15/28(10) | 1,630 | 1,693,162 | ||||||||||
Centene Corp. | ||||||||||||
4.75%, 5/15/22 | 870 | 881,310 | ||||||||||
4.75%, 1/15/25 | 1,227 | 1,262,644 | ||||||||||
5.25%, 4/1/25(10) | 2,775 | 2,887,387 | ||||||||||
5.375%, 6/1/26(10) | 2,690 | 2,842,577 | ||||||||||
5.375%, 8/15/26(10) | 672 | 713,866 | ||||||||||
4.25%, 12/15/27 | 1,795 | 1,882,497 | ||||||||||
4.625%, 12/15/29 | 1,758 | 1,898,561 | ||||||||||
3.375%, 2/15/30 | 3,056 | 3,175,383 | ||||||||||
3.00%, 10/15/30(11) | 2,345 | 2,391,900 | ||||||||||
Charles River Laboratories International, Inc. | ||||||||||||
5.50%, 4/1/26(10) | 545 | 574,975 | ||||||||||
4.25%, 5/1/28(10) | 502 | 527,692 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||
Health Care (continued) | ||||||||||
CHS/Community Health Systems, Inc. | ||||||||||
6.25%, 3/31/23 | 90 | $ | 88,087 | |||||||
DaVita, Inc. | ||||||||||
3.75%, 2/15/31(10) | 931 | 899,393 | ||||||||
DENTSPLY SIRONA, Inc. | ||||||||||
3.25%, 6/1/30 | 209 | 227,439 | ||||||||
Emergent BioSolutions, Inc. | ||||||||||
3.875%, 8/15/28(10) | 1,115 | 1,122,169 | ||||||||
Encompass Health Corp. | ||||||||||
4.50%, 2/1/28 | 998 | 1,004,677 | ||||||||
4.75%, 2/1/30 | 1,098 | 1,115,821 | ||||||||
4.625%, 4/1/31(11) | 787 | 787,000 | ||||||||
Grifols S.A. | ||||||||||
3.20%, 5/1/25(9) | EUR | 250 | 294,932 | |||||||
HCA, Inc. | ||||||||||
5.00%, 3/15/24 | 675 | 757,010 | ||||||||
5.875%, 2/15/26 | 2,705 | 3,032,981 | ||||||||
5.375%, 9/1/26 | 1,610 | 1,782,069 | ||||||||
5.625%, 9/1/28 | 1,990 | 2,279,993 | ||||||||
5.875%, 2/1/29 | 1,076 | 1,255,375 | ||||||||
3.50%, 9/1/30 | 1,549 | 1,580,362 | ||||||||
Hologic, Inc. | ||||||||||
3.25%, 2/15/29(10) | 454 | 457,689 | ||||||||
IQVIA, Inc. | ||||||||||
3.25%, 3/15/25(9) | EUR | 300 | 355,121 | |||||||
5.00%, 10/15/26(10) | 850 | 889,844 | ||||||||
5.00%, 5/15/27(10) | 577 | 606,159 | ||||||||
2.25%, 1/15/28(9) | EUR | 250 | 287,551 | |||||||
LifePoint Health, Inc. | ||||||||||
6.75%, 4/15/25(10) | 731 | 771,205 | ||||||||
4.375%, 2/15/27(10) | 1,408 | 1,413,280 | ||||||||
Molina Healthcare, Inc. | ||||||||||
4.375%, 6/15/28(10) | 1,257 | 1,284,025 | ||||||||
MPH Acquisition Holdings, LLC | ||||||||||
7.125%, 6/1/24(10) | 9,217 | 9,481,989 | ||||||||
RegionalCare Hospital Partners Holdings, Inc./ LifePoint Health, Inc. | ||||||||||
9.75%, 12/1/26(10) | 1,485 | 1,581,525 | ||||||||
Royalty Pharma PLC | ||||||||||
2.20%, 9/2/30(10) | 250 | 249,090 | ||||||||
Synlab Bondco PLC | ||||||||||
4.75%, (3 mo. EURIBOR + 4.75%), 7/1/25(9)(14) | EUR | 100 | 118,941 | |||||||
Team Health Holdings, Inc. | ||||||||||
6.375%, 2/1/25(10) | 703 | 485,070 |
30 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Health Care (continued) | ||||||||||||
Teleflex, Inc. | ||||||||||||
4.625%, 11/15/27 | 1,055 | $ | 1,112,830 | |||||||||
4.25%, 6/1/28(10) | 230 | 238,337 | ||||||||||
Tenet Healthcare Corp. | ||||||||||||
4.625%, 9/1/24(10) | 268 | 270,428 | ||||||||||
4.875%, 1/1/26(10) | 1,607 | 1,633,098 | ||||||||||
5.125%, 11/1/27(10) | 1,607 | 1,656,978 | ||||||||||
4.625%, 6/15/28(10) | 377 | 380,883 | ||||||||||
6.125%, 10/1/28(10) | 276 | 268,927 | ||||||||||
Thermo Fisher Scientific, Inc. | ||||||||||||
4.10%, 8/15/47 | 400 | 512,811 | ||||||||||
UnitedHealth Group, Inc. | ||||||||||||
3.75%, 10/15/47 | 650 | 772,567 | ||||||||||
Varex Imaging Corp. | ||||||||||||
7.875%, 10/15/27(10) | 546 | 566,475 | ||||||||||
$ | 65,368,386 | |||||||||||
Home Furnishings — 0.1% | ||||||||||||
Harman International Industries, Inc. | ||||||||||||
4.15%, 5/15/25 | 940 | $ | 1,050,922 | |||||||||
$ | 1,050,922 | |||||||||||
Homebuilders / Real Estate — 0.0% | ||||||||||||
M/I Homes, Inc. | ||||||||||||
4.95%, 2/1/28 | 459 | $ | 474,204 | |||||||||
Williams Scotsman International, Inc. | ||||||||||||
4.625%, 8/15/28(10) | 273 | 274,615 | ||||||||||
$ | 748,819 | |||||||||||
Industrial Equipment — 0.1% | ||||||||||||
Colfax Corp. | ||||||||||||
6.00%, 2/15/24(10) | 478 | $ | 497,923 | |||||||||
6.375%, 2/15/26(10) | 780 | 828,021 | ||||||||||
Vertical Midco GmbH | ||||||||||||
4.75%, (3 mo. EURIBOR + 4.75%), 7/15/27(9)(14) | EUR | 115 | 135,630 | |||||||||
$ | 1,461,574 | |||||||||||
Insurance — 1.3% | ||||||||||||
Alliant Holdings Intermediate, LLC/Alliant Holdings Co-Issuer | ||||||||||||
6.75%, 10/15/27(10) | 3,121 | $ | 3,279,578 | |||||||||
AmWINS Group, Inc. | ||||||||||||
7.75%, 7/1/26(10) | 1,557 | 1,671,533 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Insurance (continued) | ||||||||||||
Athene Holding, Ltd. | ||||||||||||
4.125%, 1/12/28 | 1,000 | $ | 1,084,026 | |||||||||
Galaxy Finco, Ltd. | ||||||||||||
9.25%, 7/31/27(9) | GBP | 575 | 756,790 | |||||||||
GTCR AP Finance, Inc. | ||||||||||||
8.00%, 5/15/27(10) | 1,078 | 1,146,049 | ||||||||||
Hub International, Ltd. | ||||||||||||
7.00%, 5/1/26(10) | 2,618 | 2,715,534 | ||||||||||
Kemper Corp. | ||||||||||||
2.40%, 9/30/30 | 615 | 607,023 | ||||||||||
MetLife, Inc. | ||||||||||||
4.05%, 3/1/45 | 300 | 365,391 | ||||||||||
NFP Corp. | ||||||||||||
6.875%, 8/15/28(10) | 1,645 | 1,664,904 | ||||||||||
QBE Insurance Group, Ltd. | ||||||||||||
5.875% to 5/12/25(10)(12)(13) | 1,000 | 1,063,750 | ||||||||||
Radian Group, Inc. | ||||||||||||
4.875%, 3/15/27 | 1,032 | 1,029,420 | ||||||||||
USI, Inc. | ||||||||||||
6.875%, 5/1/25(10) | 3,948 | 4,009,648 | ||||||||||
$ | 19,393,646 | |||||||||||
Internet Software & Services — 0.8% | ||||||||||||
ANGI Group, LLC | ||||||||||||
3.875%, 8/15/28(10) | 446 | $ | 442,376 | |||||||||
CDK Global, Inc. | ||||||||||||
5.25%, 5/15/29(10) | 531 | 566,014 | ||||||||||
Expedia Group, Inc. | ||||||||||||
6.25%, 5/1/25(10) | 487 | 537,372 | ||||||||||
7.00%, 5/1/25(10) | 243 | 263,039 | ||||||||||
Netflix, Inc. | ||||||||||||
5.50%, 2/15/22 | 1,825 | 1,916,250 | ||||||||||
3.00%, 6/15/25(9) | EUR | 100 | 122,389 | |||||||||
4.875%, 4/15/28 | 1,665 | 1,863,351 | ||||||||||
5.875%, 11/15/28 | 1,810 | 2,162,932 | ||||||||||
5.375%, 11/15/29(10) | 1,000 | 1,179,900 | ||||||||||
3.625%, 6/15/30(9) | EUR | 500 | 637,203 | |||||||||
4.875%, 6/15/30(10) | 1,300 | 1,484,438 | ||||||||||
Riverbed Technology, Inc. | ||||||||||||
8.875%, 3/1/23(10) | 1,819 | 1,273,300 | ||||||||||
Science Applications International Corp. | ||||||||||||
4.875%, 4/1/28(10) | 362 | 368,158 | ||||||||||
$ | 12,816,722 |
31 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Leisure Goods / Activities/Movies — 0.7% | ||||||||||||
AMC Entertainment Holdings, Inc. | ||||||||||||
10.50%, 4/15/25(10) | 1,249 | $ | 936,750 | |||||||||
Carnival Corp. | ||||||||||||
11.50%, 4/1/23(10) | 531 | 596,013 | ||||||||||
Cinemark Holdings, Inc. | ||||||||||||
4.50%, 8/15/25(10) | 290 | 289,814 | ||||||||||
Cinemark USA, Inc. | ||||||||||||
4.875%, 6/1/23 | 2,730 | 2,339,269 | ||||||||||
Explorer II AS | ||||||||||||
3.375%, 2/24/25 | EUR | 100 | 94,968 | |||||||||
NCL Corp, Ltd. | ||||||||||||
3.625%, 12/15/24(10) | 1,065 | 747,497 | ||||||||||
10.25%, 2/1/26(10) | 955 | 997,975 | ||||||||||
Sabre GLBL, Inc. | ||||||||||||
9.25%, 4/15/25(10) | 483 | 532,481 | ||||||||||
Viking Cruises, Ltd. | ||||||||||||
6.25%, 5/15/25(10) | 1,690 | 1,332,810 | ||||||||||
5.875%, 9/15/27(10) | 3,132 | 2,441,002 | ||||||||||
WMG Acquisition Corp. | ||||||||||||
3.625%, 10/15/26(9) | EUR | 165 | 198,083 | |||||||||
$ | 10,506,662 | |||||||||||
Lodging and Casinos — 1.5% | ||||||||||||
Caesars Resort Collection, LLC/CRC Finco, Inc. | ||||||||||||
5.25%, 10/15/25(10) | 3,279 | $ | 3,176,744 | |||||||||
Gateway Casinos & Entertainment, Ltd. | ||||||||||||
8.25%, 3/1/24(10) | 2,255 | 1,913,694 | ||||||||||
Golden Nugget, Inc. | ||||||||||||
6.75%, 10/15/24(10) | 1,665 | 1,392,356 | ||||||||||
MGM Growth Properties Operating Partnership, L.P./MGP Finance Co-Issuer, Inc. | ||||||||||||
5.625%, 5/1/24 | 480 | 510,134 | ||||||||||
4.50%, 9/1/26 | 895 | 910,591 | ||||||||||
5.75%, 2/1/27 | 573 | 618,304 | ||||||||||
MGM Resorts International | ||||||||||||
7.75%, 3/15/22 | 2,300 | 2,428,628 | ||||||||||
5.75%, 6/15/25 | 948 | 996,040 | ||||||||||
NH Hotel Group S.A. | ||||||||||||
3.75%, 10/1/23(9) | EUR | 225 | 242,834 | |||||||||
Stars Group Holdings B.V./ Stars Group US Co-Borrower, LLC | ||||||||||||
7.00%, 7/15/26(10) | 3,930 | 4,182,994 | ||||||||||
VICI Properties, L.P./VICI Note Co., Inc. | ||||||||||||
4.25%, 12/1/26(10) | 1,653 | 1,663,290 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Lodging and Casinos (continued) | ||||||||||||
VICI Properties, L.P./VICI Note Co., Inc. (continued) | ||||||||||||
3.75%, 2/15/27(10) | 1,108 | $ | 1,091,380 | |||||||||
4.625%, 12/1/29(10) | 1,574 | 1,610,399 | ||||||||||
4.125%, 8/15/30(10) | 1,108 | 1,092,765 | ||||||||||
Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp. | ||||||||||||
5.25%, 5/15/27(10) | 812 | 762,773 | ||||||||||
$ | 22,592,926 | |||||||||||
Machinery — 0.1% | ||||||||||||
Flowserve Corp. | ||||||||||||
3.50%, 10/1/30 | 244 | $ | 242,083 | |||||||||
nVent Finance S.a.r.l. | ||||||||||||
4.55%, 4/15/28 | 1,500 | 1,620,459 | ||||||||||
$ | 1,862,542 | |||||||||||
Manufacturing — 0.2% | ||||||||||||
Novelis Corp. | ||||||||||||
5.875%, 9/30/26(10) | 1,530 | $ | 1,573,987 | |||||||||
4.75%, 1/30/30(10) | 1,068 | 1,044,488 | ||||||||||
$ | 2,618,475 | |||||||||||
Media — 0.2% | ||||||||||||
Banijay Group S.A.S. | ||||||||||||
6.50%, 3/1/26(9) | EUR | 150 | $ | 171,260 | ||||||||
Discovery Communications, LLC | ||||||||||||
4.65%, 5/15/50 | 300 | 343,800 | ||||||||||
Outfront Media Capital, LLC/Outfront Media Capital Corp. | ||||||||||||
6.25%, 6/15/25(10) | 807 | 832,723 | ||||||||||
Scripps Escrow, Inc. | ||||||||||||
5.875%, 7/15/27(10) | 1,036 | 1,001,035 | ||||||||||
Tele Columbus AG | ||||||||||||
3.875%, 5/2/25(9) | EUR | 300 | 336,875 | |||||||||
Telenet Finance Luxembourg S.a.r.l. | ||||||||||||
3.50%, 3/1/28(9) | EUR | 200 | 242,527 | |||||||||
VTR Finance N.V. | ||||||||||||
6.375%, 7/15/28(10) | 490 | 515,112 | ||||||||||
$ | 3,443,332 | |||||||||||
Metals / Mining — 0.9% | ||||||||||||
Arconic Corp. | ||||||||||||
6.125%, 2/15/28(10) | 2,573 | $ | 2,648,582 |
32 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Metals / Mining (continued) | ||||||||||||
Cleveland-Cliffs, Inc. | ||||||||||||
9.875%, 10/17/25(10) | 443 | $ | 495,052 | |||||||||
6.75%, 3/15/26(10) | 2,808 | 2,859,808 | ||||||||||
Compass Minerals International, Inc. | ||||||||||||
6.75%, 12/1/27(10) | 3,005 | 3,250,478 | ||||||||||
Constellium N.V. | ||||||||||||
4.25%, 2/15/26(9) | EUR | 150 | 176,080 | |||||||||
5.875%, 2/15/26(10) | 837 | 860,365 | ||||||||||
Freeport-McMoRan, Inc. | ||||||||||||
5.45%, 3/15/43 | 1,821 | 2,025,171 | ||||||||||
Hudbay Minerals, Inc. | ||||||||||||
6.125%, 4/1/29(10) | 920 | 914,250 | ||||||||||
Joseph T. Ryerson & Son, Inc. | ||||||||||||
8.50%, 8/1/28(10) | 1,180 | 1,244,900 | ||||||||||
$ | 14,474,686 | |||||||||||
Nonferrous Metals / Minerals — 0.5% | ||||||||||||
Eldorado Gold Corp. | ||||||||||||
9.50%, 6/1/24(10) | 432 | $ | 460,575 | |||||||||
First Quantum Minerals, Ltd. | ||||||||||||
7.25%, 4/1/23(10) | 1,332 | 1,332,366 | ||||||||||
7.50%, 4/1/25(10) | 1,615 | 1,599,431 | ||||||||||
6.875%, 3/1/26(10) | 637 | 615,103 | ||||||||||
New Gold, Inc. | ||||||||||||
6.375%, 5/15/25(10) | 2,014 | 2,083,231 | ||||||||||
7.50%, 7/15/27(10) | 1,621 | 1,732,444 | ||||||||||
$ | 7,823,150 | |||||||||||
Oil and Gas — 4.3% | ||||||||||||
Aker BP ASA | ||||||||||||
4.75%, 6/15/24(10) | 1,106 | $ | 1,137,339 | |||||||||
AmeriGas Partners, L.P./AmeriGas Finance Corp. | ||||||||||||
5.625%, 5/20/24 | 216 | 229,176 | ||||||||||
5.50%, 5/20/25 | 880 | 947,685 | ||||||||||
Apache Corp. | ||||||||||||
4.625%, 11/15/25 | 605 | 577,775 | ||||||||||
4.875%, 11/15/27 | 755 | 714,891 | ||||||||||
4.375%, 10/15/28 | 767 | 703,243 | ||||||||||
4.25%, 1/15/30 | 1,529 | 1,380,878 | ||||||||||
Archrock Partners, L.P./Archrock Partners Finance Corp. | ||||||||||||
6.25%, 4/1/28(10) | 756 | 714,420 | ||||||||||
Ascent Resources Utica Holdings, LLC/ ARU Finance Corp. | ||||||||||||
7.00%, 11/1/26(10) | 1,920 | 1,473,600 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||
Oil and Gas (continued) | ||||||||||
Berry Petroleum Co., LLC | ||||||||||
7.00%, 2/15/26(10) | 722 | $ | 563,925 | |||||||
BP Capital Markets America, Inc. | ||||||||||
2.772%, 11/10/50 | 294 | 270,161 | ||||||||
Buckeye Partners, L.P. | ||||||||||
4.50%, 3/1/28(10) | 921 | 889,916 | ||||||||
Cenovus Energy, Inc. | ||||||||||
3.80%, 9/15/23 | 383 | 370,626 | ||||||||
6.75%, 11/15/39 | 1,500 | 1,507,404 | ||||||||
5.40%, 6/15/47 | 633 | 534,598 | ||||||||
Centennial Resource Production, LLC | ||||||||||
5.375%, 1/15/26(10) | 2,175 | 875,438 | ||||||||
6.875%, 4/1/27(10) | 2,055 | 843,382 | ||||||||
Chevron Corp. | ||||||||||
3.078%, 5/11/50 | 500 | 537,039 | ||||||||
Continental Resources, Inc. | ||||||||||
4.375%, 1/15/28 | 1,220 | 1,056,923 | ||||||||
4.90%, 6/1/44 | 47 | 35,619 | ||||||||
CrownRock, L.P./CrownRock Finance, Inc. | ||||||||||
5.625%, 10/15/25(10) | 3,677 | 3,474,765 | ||||||||
CVR Energy, Inc. | ||||||||||
5.75%, 2/15/28(10) | 1,280 | 1,091,200 | ||||||||
Endeavor Energy Resources, L.P./EER Finance, Inc. | ||||||||||
6.625%, 7/15/25(10) | 707 | 727,545 | ||||||||
5.50%, 1/30/26(10) | 1,045 | 1,039,122 | ||||||||
5.75%, 1/30/28(10) | 250 | 251,719 | ||||||||
Energy Transfer Operating, L.P. | ||||||||||
Series A, 6.25% to 2/15/23(12)(13) | 1,045 | 683,686 | ||||||||
5.875%, 1/15/24 | 875 | 963,024 | ||||||||
Eni SpA | ||||||||||
4.75%, 9/12/28(10) | 1,000 | 1,163,943 | ||||||||
EP Energy, LLC/Everest Acquisition Finance, Inc. | ||||||||||
7.75%, 5/15/26(6)(10) | 480 | 107,400 | ||||||||
EQT Corp. | ||||||||||
7.875%, 2/1/25 | 407 | 451,707 | ||||||||
8.75%, 2/1/30 | 594 | 702,595 | ||||||||
Extraction Oil & Gas, Inc. | ||||||||||
7.375%, 5/15/24(6)(10) | 689 | 174,761 | ||||||||
5.625%, 2/1/26(6)(10) | 1,821 | 461,733 | ||||||||
Gran Tierra Energy International Holdings, Ltd. | ||||||||||
6.25%, 2/15/25(10) | 550 | 189,585 | ||||||||
Gran Tierra Energy, Inc. | ||||||||||
7.75%, 5/23/27(10) | 405 | 141,501 |
33 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||
Oil and Gas (continued) | ||||||||||
Great Western Petroleum, LLC/Great Western Finance Corp. | ||||||||||
9.00%, 9/30/21(10) | 2,423 | $ | 1,435,628 | |||||||
Ithaca Energy North Sea PLC | ||||||||||
9.375%, 7/15/24(10) | 200 | 186,498 | ||||||||
Jagged Peak Energy, LLC | ||||||||||
5.875%, 5/1/26 | 507 | 505,968 | ||||||||
Laredo Petroleum, Inc. | ||||||||||
9.50%, 1/15/25 | 414 | 247,100 | ||||||||
10.125%, 1/15/28 | 622 | 368,473 | ||||||||
Matador Resources Co. | ||||||||||
5.875%, 9/15/26 | 2,220 | 1,859,972 | ||||||||
MEG Energy Corp. | ||||||||||
7.125%, 2/1/27(10) | 1,030 | 926,310 | ||||||||
Moss Creek Resources Holdings, Inc. | ||||||||||
7.50%, 1/15/26(10) | 1,915 | 1,155,817 | ||||||||
Nabors Industries, Ltd. | ||||||||||
7.25%, 1/15/26(10) | 617 | 306,186 | ||||||||
7.50%, 1/15/28(10) | 665 | 322,109 | ||||||||
National Oilwell Varco, Inc. | ||||||||||
3.60%, 12/1/29 | 297 | 288,604 | ||||||||
Neptune Energy Bondco PLC | ||||||||||
6.625%, 5/15/25(9) | 250 | 223,605 | ||||||||
6.625%, 5/15/25(10) | 3,725 | 3,331,715 | ||||||||
Nine Energy Service, Inc. | ||||||||||
8.75%, 11/1/23(10) | 500 | 152,033 | ||||||||
Occidental Petroleum Corp. | ||||||||||
3.125%, 2/15/22 | 15 | 14,233 | ||||||||
2.70%, 8/15/22 | 293 | 274,305 | ||||||||
3.45%, 7/15/24 | 244 | 209,840 | ||||||||
2.90%, 8/15/24 | 97 | 82,479 | ||||||||
3.40%, 4/15/26 | 208 | 166,400 | ||||||||
8.50%, 7/15/27 | 1,965 | 1,983,835 | ||||||||
6.375%, 9/1/28 | 800 | 742,060 | ||||||||
3.50%, 8/15/29 | 599 | 460,272 | ||||||||
8.875%, 7/15/30 | 1,685 | 1,738,709 | ||||||||
6.625%, 9/1/30 | 1,511 | 1,396,731 | ||||||||
6.20%, 3/15/40 | 480 | 394,800 | ||||||||
4.625%, 6/15/45 | 499 | 361,835 | ||||||||
4.20%, 3/15/48 | 931 | 641,226 | ||||||||
4.40%, 8/15/49 | 748 | 525,694 | ||||||||
Parsley Energy, LLC/Parsley Finance Corp. | ||||||||||
5.375%, 1/15/25(10) | 1,240 | 1,240,000 | ||||||||
5.25%, 8/15/25(10) | 1,170 | 1,161,225 | ||||||||
5.625%, 10/15/27(10) | 923 | 920,116 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Oil and Gas (continued) | ||||||||||||
Patterson-UTI Energy, Inc. | ||||||||||||
3.95%, 2/1/28 | 1,310 | $ | 1,013,516 | |||||||||
PBF Holding Co., LLC/PBF Finance Corp. | ||||||||||||
7.25%, 6/15/25 | 365 | 276,526 | ||||||||||
6.00%, 2/15/28(10) | 698 | 469,702 | ||||||||||
Precision Drilling Corp. | ||||||||||||
7.75%, 12/15/23 | 216 | 164,835 | ||||||||||
5.25%, 11/15/24 | 303 | 203,957 | ||||||||||
7.125%, 1/15/26(10) | 500 | 323,370 | ||||||||||
Seven Generations Energy, Ltd. | ||||||||||||
6.875%, 6/30/23(10) | 625 | 612,994 | ||||||||||
5.375%, 9/30/25(10) | 1,710 | 1,623,448 | ||||||||||
Shelf Drilling Holdings, Ltd. | ||||||||||||
8.25%, 2/15/25(10) | 2,715 | 1,086,000 | ||||||||||
Shell International Finance B.V. | ||||||||||||
2.375%, 11/7/29 | 500 | 529,248 | ||||||||||
3.75%, 9/12/46 | 400 | 448,548 | ||||||||||
SM Energy Co. | ||||||||||||
6.125%, 11/15/22 | 383 | 299,309 | ||||||||||
Southwestern Energy Co. | ||||||||||||
8.375%, 9/15/28 | 710 | 698,984 | ||||||||||
Tallgrass Energy Partners, L.P./Tallgrass Energy Finance Corp. | ||||||||||||
5.50%, 1/15/28(10) | 612 | 552,578 | ||||||||||
Targa Resources Partners, L.P./Targa Resources Partners Finance Corp. | ||||||||||||
5.875%, 4/15/26 | 985 | 1,013,146 | ||||||||||
6.50%, 7/15/27 | 566 | 591,470 | ||||||||||
Tervita Corp. | ||||||||||||
7.625%, 12/1/21(10) | 2,381 | 2,179,365 | ||||||||||
Transocean Guardian, Ltd. | ||||||||||||
5.875%, 1/15/24(10) | 827 | 537,420 | ||||||||||
Transocean Pontus, Ltd. | ||||||||||||
6.125%, 8/1/25(10) | 566 | 508,950 | ||||||||||
Transocean Poseidon, Ltd. | ||||||||||||
6.875%, 2/1/27(10) | 294 | 236,670 | ||||||||||
Transocean, Inc. | ||||||||||||
11.50%, 1/30/27(10) | 243 | 98,111 | ||||||||||
Williams Cos., Inc. (The) | ||||||||||||
5.75%, 6/24/44 | 790 | 933,974 | ||||||||||
WPX Energy, Inc. | ||||||||||||
5.25%, 10/15/27 | 371 | 377,192 | ||||||||||
$ | 65,391,415 |
34 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Packaging & Containers — 0.6% | ||||||||||||
ARD Finance S.A. | ||||||||||||
5.00%, (5.00% cash or 5.75% PIK), | EUR | 172 | $ | 197,467 | ||||||||
6.50%, (6.50% cash or 7.25% PIK), | 2,948 | 2,936,355 | ||||||||||
Intelligent Packaging, Ltd. Finco, Inc./Intelligent Packaging, Ltd. Co-Issuer, LLC | ||||||||||||
6.00%, 9/15/28(10) | 653 | 663,399 | ||||||||||
Silgan Holdings, Inc. | ||||||||||||
2.25%, 6/1/28 | EUR | 1,070 | 1,226,294 | |||||||||
Smurfit Kappa Treasury ULC | ||||||||||||
1.50%, 9/15/27(9) | EUR | 145 | 168,703 | |||||||||
Trivium Packaging Finance B.V. | ||||||||||||
3.75%, 8/15/26(9) | EUR | 280 | 325,940 | |||||||||
5.50%, 8/15/26(10) | 779 | 808,583 | ||||||||||
8.50%, 8/15/27(10) | 2,858 | 3,086,640 | ||||||||||
$ | 9,413,381 | |||||||||||
Pharmaceuticals — 0.3% | ||||||||||||
CVS Health Corp. | ||||||||||||
4.78%, 3/25/38 | 1,080 | $ | 1,310,190 | |||||||||
Diocle SpA | ||||||||||||
3.875%, (3 mo. EURIBOR + 3.875%), 6/30/26(9)(14) | EUR | 134 | 155,106 | |||||||||
Herbalife Nutrition, Ltd./HLF Financing, Inc. | ||||||||||||
7.875%, 9/1/25(10) | 1,169 | 1,256,675 | ||||||||||
Merck & Co., Inc. | ||||||||||||
2.45%, 6/24/50 | 400 | 399,966 | ||||||||||
Pfizer, Inc. | ||||||||||||
2.70%, 5/28/50 | 500 | 523,197 | ||||||||||
Rossini S.a.r.l. | ||||||||||||
3.875%, (3 mo. EURIBOR + 3.875%), 10/30/25(9)(14) | EUR | 300 | 346,617 | |||||||||
$ | 3,991,751 | |||||||||||
Pipelines — 0.8% | ||||||||||||
Antero Midstream Partners, L.P./Antero Midstream Finance Corp. | ||||||||||||
5.75%, 3/1/27(10) | 1,874 | $ | 1,555,420 | |||||||||
Cheniere Energy Partners, L.P. | ||||||||||||
4.50%, 10/1/29 | 1,722 | 1,768,477 | ||||||||||
Cheniere Energy, Inc. | ||||||||||||
4.625%, 10/15/28(10) | 1,122 | 1,153,556 | ||||||||||
Crestwood Midstream Partners, L.P./Crestwood Midstream Finance Corp. | ||||||||||||
5.625%, 5/1/27(10) | 1,060 | 949,516 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Pipelines (continued) | ||||||||||||
EnLink Midstream, LLC | ||||||||||||
5.375%, 6/1/29 | 653 | $ | 530,563 | |||||||||
EQM Midstream Partners, L.P. | ||||||||||||
6.00%, 7/1/25(10) | 699 | 721,717 | ||||||||||
6.50%, 7/1/27(10) | 702 | 745,127 | ||||||||||
Kinder Morgan, Inc. | ||||||||||||
5.05%, 2/15/46 | 500 | 568,052 | ||||||||||
Magellan Midstream Partners, L.P. | ||||||||||||
4.20%, 10/3/47 | 300 | 312,798 | ||||||||||
NGPL PipeCo, LLC | ||||||||||||
4.375%, 8/15/22(10) | 340 | 353,133 | ||||||||||
Plains All American Pipeline, L.P. | ||||||||||||
Series B, 6.125% to 11/15/22(12)(13) | 2,344 | 1,489,964 | ||||||||||
TransCanada PipeLines, Ltd. | ||||||||||||
4.75%, 5/15/38 | 390 | 460,049 | ||||||||||
Western Midstream Operating, L.P. | ||||||||||||
4.50%, 3/1/28 | 148 | 139,860 | ||||||||||
4.75%, 8/15/28 | 150 | 144,909 | ||||||||||
5.05%, 2/1/30 | 1,187 | 1,158,809 | ||||||||||
$ | 12,051,950 | |||||||||||
Private Equity — 0.0%(8) | ||||||||||||
KKR Group Finance Co. VII, LLC | ||||||||||||
3.625%, 2/25/50(10) | 400 | $ | 416,301 | |||||||||
$ | 416,301 | |||||||||||
Radio and Television — 1.0% | ||||||||||||
Clear Channel Worldwide Holdings, Inc. | ||||||||||||
5.125%, 8/15/27(10) | 740 | $ | 711,510 | |||||||||
Diamond Sports Group, LLC/Diamond Sports Finance Co. | ||||||||||||
5.375%, 8/15/26(10) | 2,646 | 1,878,435 | ||||||||||
iHeartCommunications, Inc. | ||||||||||||
6.375%, 5/1/26 | 179 | 186,848 | ||||||||||
8.375%, 5/1/27 | 2,130 | 2,102,407 | ||||||||||
Nexstar Broadcasting, Inc. | ||||||||||||
5.625%, 7/15/27(10) | 1,312 | 1,378,276 | ||||||||||
Nielsen Co. Luxembourg S.a.r.l. (The) | ||||||||||||
5.50%, 10/1/21(10) | 300 | 300,844 | ||||||||||
Sinclair Television Group, Inc. | ||||||||||||
5.50%, 3/1/30(10) | 1,040 | 966,358 | ||||||||||
Sirius XM Radio, Inc. | ||||||||||||
4.625%, 7/15/24(10) | 1,595 | 1,651,822 | ||||||||||
5.00%, 8/1/27(10) | 1,609 | 1,683,070 |
35 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Radio and Television (continued) | ||||||||||||
Terrier Media Buyer, Inc. | ||||||||||||
8.875%, 12/15/27(10) | 3,987 | $ | 4,024,378 | |||||||||
$ | 14,883,948 | |||||||||||
Real Estate Investment Trusts (REITs) — 0.5% | ||||||||||||
ADLER Group S.A. | ||||||||||||
3.25%, 8/5/25(9) | EUR | 100 | $ | 118,718 | ||||||||
Consus Real Estate AG | ||||||||||||
9.625%, 5/15/24(9) | EUR | 250 | 313,566 | |||||||||
Corporate Office Properties, L.P. | ||||||||||||
2.25%, 3/15/26 | 292 | 295,648 | ||||||||||
HAT Holdings I, LLC/HAT Holdings II, LLC | ||||||||||||
6.00%, 4/15/25(10) | 716 | 763,650 | ||||||||||
3.75%, 9/15/30(10) | 905 | 911,788 | ||||||||||
Newmark Group, Inc. | ||||||||||||
6.125%, 11/15/23 | 2,126 | 2,216,032 | ||||||||||
Service Properties Trust | ||||||||||||
7.50%, 9/15/25 | 993 | 1,057,635 | ||||||||||
4.75%, 10/1/26 | 1,990 | 1,778,363 | ||||||||||
WP Carey, Inc. | ||||||||||||
3.85%, 7/15/29 | 159 | 172,028 | ||||||||||
$ | 7,627,428 | |||||||||||
Retail — 0.4% | ||||||||||||
B&M European Value Retail S.A. | ||||||||||||
3.625%, 7/15/25(9) | GBP | 130 | $ | 171,247 | ||||||||
eG Global Finance PLC | ||||||||||||
6.25%, 10/30/25(9) | EUR | 100 | 117,279 | |||||||||
Ferrellgas, L.P./Ferrellgas Finance Corp. | ||||||||||||
10.00%, 4/15/25(10) | 1,215 | 1,318,275 | ||||||||||
Group 1 Automotive, Inc. | ||||||||||||
4.00%, 8/15/28(10) | 895 | 881,016 | ||||||||||
Ken Garff Automotive, LLC | ||||||||||||
4.875%, 9/15/28(10) | 528 | 520,740 | ||||||||||
Michaels Stores, Inc. | ||||||||||||
4.75%, 10/1/27(10)(11) | 353 | 350,573 | ||||||||||
Penske Automotive Group, Inc. | ||||||||||||
3.50%, 9/1/25 | 1,110 | 1,102,374 | ||||||||||
Specialty Building Products Holdings, LLC/SBP Finance Corp. | ||||||||||||
6.375%, 9/30/26(10) | 442 | 450,564 | ||||||||||
Walmart, Inc. | ||||||||||||
2.95%, 9/24/49 | 500 | 563,913 | ||||||||||
$ | 5,475,981 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Retailers (Except Food and Drug) — 0.6% | ||||||||||||
Asbury Automotive Group, Inc. | ||||||||||||
4.50%, 3/1/28(10) | 312 | $ | 314,535 | |||||||||
4.75%, 3/1/30(10) | 410 | 413,844 | ||||||||||
Burlington Coat Factory Warehouse Corp. | ||||||||||||
6.25%, 4/15/25(10) | 1,000 | 1,054,375 | ||||||||||
L Brands, Inc. | ||||||||||||
6.875%, 7/1/25(10) | 451 | 487,761 | ||||||||||
9.375%, 7/1/25(10) | 316 | 363,005 | ||||||||||
6.625%, 10/1/30(10) | 884 | 901,680 | ||||||||||
6.875%, 11/1/35 | 1,336 | 1,318,872 | ||||||||||
6.75%, 7/1/36 | 223 | 218,958 | ||||||||||
7.60%, 7/15/37 | 254 | 234,714 | ||||||||||
Macy’s Retail Holdings, LLC | ||||||||||||
4.30%, 2/15/43 | 1,252 | 707,931 | ||||||||||
Murphy Oil USA, Inc. | ||||||||||||
5.625%, 5/1/27 | 560 | 596,994 | ||||||||||
4.75%, 9/15/29 | 728 | 777,005 | ||||||||||
Nordstrom, Inc. | ||||||||||||
4.375%, 4/1/30 | 158 | 128,021 | ||||||||||
5.00%, 1/15/44 | 775 | 549,732 | ||||||||||
Tapestry, Inc. | ||||||||||||
4.125%, 7/15/27 | 704 | 693,602 | ||||||||||
$ | 8,761,029 | |||||||||||
Semiconductors & Semiconductor Equipment — 0.3% | ||||||||||||
ON Semiconductor Corp. | ||||||||||||
3.875%, 9/1/28(10) | 1,544 | $ | 1,568,627 | |||||||||
Qorvo, Inc. | ||||||||||||
3.375%, 4/1/31(10) | 878 | 894,682 | ||||||||||
Sensata Technologies UK Financing Co. PLC | ||||||||||||
6.25%, 2/15/26(10) | 1,588 | 1,666,407 | ||||||||||
$ | 4,129,716 | |||||||||||
Software and Services — 0.5% | ||||||||||||
Black Knight InfoServ, LLC | ||||||||||||
3.625%, 9/1/28(10) | 752 | $ | 761,400 | |||||||||
Gartner, Inc. | ||||||||||||
4.50%, 7/1/28(10) | 908 | 952,447 | ||||||||||
3.75%, 10/1/30(10) | 660 | 668,861 | ||||||||||
j2 Cloud Services, LLC/j2 Cloud Co-Obligor, Inc. | ||||||||||||
6.00%, 7/15/25(10) | 1,915 | 1,994,089 | ||||||||||
Logan Merger Sub, Inc. | ||||||||||||
5.50%, 9/1/27(10) | 662 | 673,171 |
36 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Software and Services (continued) | ||||||||||||
Microsoft Corp. | ||||||||||||
2.525%, 6/1/50 | 750 | $ | 787,279 | |||||||||
Oracle Corp. | ||||||||||||
2.95%, 4/1/30 | 1,500 | 1,680,482 | ||||||||||
PTC, Inc. | ||||||||||||
3.625%, 2/15/25(10) | 264 | 268,455 | ||||||||||
4.00%, 2/15/28(10) | 392 | 403,642 | ||||||||||
$ | 8,189,826 | |||||||||||
Steel — 0.6% | ||||||||||||
Allegheny Ludlum, LLC | ||||||||||||
6.95%, 12/15/25 | 225 | $ | 224,132 | |||||||||
Allegheny Technologies, Inc. | ||||||||||||
7.875%, 8/15/23 | 4,801 | 4,922,057 | ||||||||||
5.875%, 12/1/27 | 709 | 682,643 | ||||||||||
Big River Steel, LLC/BRS Finance Corp. | ||||||||||||
6.625%, 1/31/29(10) | 1,433 | 1,451,665 | ||||||||||
Infrabuild Australia Pty, Ltd. | ||||||||||||
12.00%, 10/1/24(10) | 2,494 | 2,406,710 | ||||||||||
thyssenkrupp AG | ||||||||||||
2.875%, 2/22/24(9) | EUR | 100 | 110,419 | |||||||||
$ | 9,797,626 | |||||||||||
Surface Transport — 0.4% | ||||||||||||
Anglian Water Osprey Financing PLC | ||||||||||||
4.00%, 3/8/26(9) | GBP | 325 | $ | 412,402 | ||||||||
CMA CGM S.A. | ||||||||||||
5.25%, 1/15/25(9) | EUR | 185 | 193,451 | |||||||||
Moto Finance PLC | ||||||||||||
4.50%, 10/1/22(9) | GBP | 250 | 309,887 | |||||||||
XPO Logistics, Inc. | ||||||||||||
6.50%, 6/15/22(10) | 2,276 | 2,286,754 | ||||||||||
6.125%, 9/1/23(10) | 2,221 | 2,271,083 | ||||||||||
$ | 5,473,577 | |||||||||||
Technology — 0.5% | ||||||||||||
Dell International, LLC/EMC Corp. | ||||||||||||
5.875%, 6/15/21(10) | 66 | $ | 66,208 | |||||||||
7.125%, 6/15/24(10) | 2,440 | 2,540,772 | ||||||||||
5.85%, 7/15/25(10) | 504 | 589,065 | ||||||||||
6.02%, 6/15/26(10) | 1,945 | 2,287,027 | ||||||||||
6.10%, 7/15/27(10) | 1,016 | 1,201,024 | ||||||||||
6.20%, 7/15/30(10) | 507 | 608,828 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Technology (continued) | ||||||||||||
Western Union Co. (The) | ||||||||||||
6.20%, 11/17/36 | 872 | $ | 1,051,615 | |||||||||
$ | 8,344,539 | |||||||||||
Telecommunications — 3.3% | ||||||||||||
Altice Financing S.A. | ||||||||||||
2.25%, 1/15/25(9) | EUR | 100 | $ | 112,667 | ||||||||
Altice Finco S.A. | ||||||||||||
4.75%, 1/15/28(9) | EUR | 716 | 763,921 | |||||||||
Altice France Holding S.A. | ||||||||||||
10.50%, 5/15/27(10) | 1,599 | 1,779,887 | ||||||||||
4.00%, 2/15/28(9) | EUR | 1,108 | 1,187,138 | |||||||||
6.00%, 2/15/28(10) | 719 | 687,109 | ||||||||||
AT&T, Inc. | ||||||||||||
3.55%, 9/15/55(10) | 1,589 | 1,527,499 | ||||||||||
CenturyLink, Inc. | ||||||||||||
7.50%, 4/1/24 | 47 | 52,680 | ||||||||||
Connect Finco S.a.r.l./Connect US Finco, LLC | ||||||||||||
6.75%, 10/1/26(10) | 2,698 | 2,710,681 | ||||||||||
Consolidated Communications, Inc. | ||||||||||||
6.50%, 10/1/28(10)(11) | 617 | 630,883 | ||||||||||
Crystal Almond S.a.r.l. | ||||||||||||
4.25%, 10/15/24(9) | EUR | 286 | 331,129 | |||||||||
DKT Finance ApS | ||||||||||||
9.375%, 6/17/23(10) | 201 | 208,035 | ||||||||||
eircom Finance DAC | ||||||||||||
3.50%, 5/15/26(9) | EUR | 200 | 234,248 | |||||||||
Equinix, Inc. | ||||||||||||
2.875%, 2/1/26 | EUR | 440 | 527,098 | |||||||||
Hughes Satellite Systems Corp. | ||||||||||||
5.25%, 8/1/26 | 1,245 | 1,328,066 | ||||||||||
6.625%, 8/1/26 | 770 | 836,035 | ||||||||||
Intelsat Jackson Holdings S.A. | ||||||||||||
5.50%, 8/1/23(6) | 995 | 626,850 | ||||||||||
8.00%, 2/15/24(6)(10) | 490 | 498,163 | ||||||||||
LCPR Senior Secured Financing DAC | ||||||||||||
6.75%, 10/15/27(10) | 786 | 822,352 | ||||||||||
Level 3 Financing, Inc. | ||||||||||||
5.375%, 1/15/24 | 2,190 | 2,218,131 | ||||||||||
Lorca Telecom Bondco S.A.U. | ||||||||||||
4.00%, 9/18/27(9) | EUR | 135 | 162,048 | |||||||||
Matterhorn Telecom S.A. | ||||||||||||
3.125%, 9/15/26(9) | EUR | 200 | 224,398 |
37 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Telecommunications (continued) | ||||||||||||
PLT VII Finance S.a.r.l. | ||||||||||||
4.625%, 1/5/26(9) | EUR | 200 | $ | 239,107 | ||||||||
SBA Communications Corp. | ||||||||||||
4.00%, 10/1/22 | 1,020 | 1,029,562 | ||||||||||
4.875%, 9/1/24 | 460 | 472,029 | ||||||||||
SoftBank Group Corp. | ||||||||||||
4.00%, 4/20/23(9) | EUR | 200 | 243,352 | |||||||||
3.125%, 9/19/25(9) | EUR | 250 | 292,015 | |||||||||
Sprint Capital Corp. | ||||||||||||
6.875%, 11/15/28 | 840 | 1,047,656 | ||||||||||
Sprint Communications, Inc. | ||||||||||||
6.00%, 11/15/22 | 365 | 393,744 | ||||||||||
Sprint Corp. | ||||||||||||
7.25%, 9/15/21 | 3,265 | 3,420,087 | ||||||||||
7.875%, 9/15/23 | 9,822 | 11,271,973 | ||||||||||
7.625%, 2/15/25 | 1,785 | 2,091,797 | ||||||||||
7.625%, 3/1/26 | 993 | 1,201,431 | ||||||||||
Summer (BC) Holdco B S.a.r.l. | ||||||||||||
5.75%, 10/31/26(9) | EUR | 150 | 173,439 | |||||||||
Switch, Ltd. | ||||||||||||
3.75%, 9/15/28(10) | 536 | 542,700 | ||||||||||
T-Mobile USA, Inc. | ||||||||||||
6.50%, 1/15/26 | 595 | 622,519 | ||||||||||
4.50%, 2/1/26 | 980 | 1,011,629 | ||||||||||
4.75%, 2/1/28 | 1,045 | 1,119,185 | ||||||||||
3.875%, 4/15/30(10) | 1,000 | 1,138,280 | ||||||||||
TalkTalk Telecom Group PLC | ||||||||||||
3.875%, 2/20/25(9) | GBP | 420 | 525,201 | |||||||||
Telecom Italia Capital S.A. | ||||||||||||
6.00%, 9/30/34 | 1,271 | 1,479,050 | ||||||||||
Telecom Italia SpA | ||||||||||||
2.50%, 7/19/23(9) | EUR | 400 | 482,463 | |||||||||
5.303%, 5/30/24(10) | 1,118 | 1,215,741 | ||||||||||
2.75%, 4/15/25(9) | EUR | 500 | 605,362 | |||||||||
3.00%, 9/30/25(9) | EUR | 140 | 171,316 | |||||||||
ViaSat, Inc. | ||||||||||||
5.625%, 4/15/27(10) | 796 | 820,378 | ||||||||||
Vmed O2 UK Financing I PLC | ||||||||||||
3.25%, 1/31/31(9) | EUR | 400 | 467,273 | |||||||||
4.25%, 1/31/31(10) | 474 | 484,369 | ||||||||||
Vodafone Group PLC | ||||||||||||
4.875% to 7/3/25, 10/3/78(9)(12) | GBP | 350 | 479,300 | |||||||||
VTR Comunicaciones SpA | ||||||||||||
5.125%, 1/15/28(10) | 590 | 610,945 | ||||||||||
$ | 51,120,921 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Transportation — 0.4% | ||||||||||||
A.P. Moller - Maersk A/S | ||||||||||||
4.50%, 6/20/29(10) | 1,000 | $ | 1,127,769 | |||||||||
Cargo Aircraft Management, Inc. | ||||||||||||
4.75%, 2/1/28(10) | 716 | 724,843 | ||||||||||
FedEx Corp. | ||||||||||||
4.10%, 2/1/45 | 500 | 573,259 | ||||||||||
Getlink S.E. | ||||||||||||
3.625%, 10/1/23(9) | EUR | 200 | 235,012 | |||||||||
JSL Europe S.A. | ||||||||||||
7.75%, 7/26/24(10) | 1,000 | 1,033,750 | ||||||||||
Watco Cos., LLC/Watco Finance Corp. | ||||||||||||
6.50%, 6/15/27(10) | 1,900 | 1,947,500 | ||||||||||
XPO CNW, Inc. | ||||||||||||
6.70%, 5/1/34 | 1,000 | 1,069,630 | ||||||||||
$ | 6,711,763 | |||||||||||
Utilities — 1.2% | ||||||||||||
AES Corp. (The) | ||||||||||||
5.50%, 4/15/25 | 309 | $ | 319,180 | |||||||||
6.00%, 5/15/26 | 1,694 | 1,785,095 | ||||||||||
5.125%, 9/1/27 | 445 | 475,000 | ||||||||||
Calpine Corp. | ||||||||||||
5.25%, 6/1/26(10) | 1,040 | 1,083,623 | ||||||||||
4.50%, 2/15/28(10) | 1,073 | 1,100,705 | ||||||||||
5.125%, 3/15/28(10) | 1,511 | 1,566,023 | ||||||||||
4.625%, 2/1/29(10) | 680 | 680,425 | ||||||||||
5.00%, 2/1/31(10) | 910 | 929,269 | ||||||||||
ENERGO-PRO AS | ||||||||||||
4.50%, 5/4/24(9) | EUR | 450 | 506,095 | |||||||||
NextEra Energy Operating Partners, L.P. | ||||||||||||
4.25%, 9/15/24(10) | 660 | 688,875 | ||||||||||
4.50%, 9/15/27(10) | 851 | 916,953 | ||||||||||
NRG Energy, Inc. | ||||||||||||
7.25%, 5/15/26 | 1,278 | 1,362,533 | ||||||||||
5.75%, 1/15/28 | 1,455 | 1,572,309 | ||||||||||
5.25%, 6/15/29(10) | 673 | 733,446 | ||||||||||
TerraForm Power Operating, LLC | ||||||||||||
4.25%, 1/31/23(10) | 655 | 672,868 | ||||||||||
5.00%, 1/31/28(10) | 1,497 | 1,641,535 | ||||||||||
Thames Water Kemble Finance PLC | ||||||||||||
5.875%, 7/15/22(9) | GBP | 200 | 264,796 | |||||||||
Vistra Operations Co., LLC | ||||||||||||
5.00%, 7/31/27(10) | 1,278 | 1,343,497 |
38 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Utilities (continued) | ||||||||||||
Vistra Operations Co., LLC (continued) | ||||||||||||
4.30%, 7/15/29(10) | 202 | $ | 220,263 | |||||||||
$ | 17,862,490 | |||||||||||
Total Corporate Bonds & Notes | $ | 778,084,535 | ||||||||||
Foreign Government Securities — 4.2% |
| |||||||||||
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Argentina — 0.1% | ||||||||||||
Republic of Argentina | ||||||||||||
0.125% to 11/9/20, 7/9/35(16) |
| 2,741 | $ | 1,035,970 | ||||||||
0.125% to 11/9/20, 7/9/41(16) | 750 | 299,431 | ||||||||||
Total Argentina | $ | 1,335,401 | ||||||||||
Armenia — 0.1% | ||||||||||||
Republic of Armenia | ||||||||||||
3.95%, 9/26/29(9) |
| 973 | $ | 946,243 | ||||||||
7.15%, 3/26/25(9) | 1,167 | 1,276,679 | ||||||||||
Total Armenia | $ | 2,222,922 | ||||||||||
Bahrain — 0.5% | ||||||||||||
CBB International Sukuk Programme Co. | ||||||||||||
6.25%, 11/14/24(9) |
| 665 | $ | 716,504 | ||||||||
Kingdom of Bahrain | ||||||||||||
6.75%, 9/20/29(9) |
| 1,464 | 1,573,428 | |||||||||
7.00%, 1/26/26(9) |
| 647 | 720,357 | |||||||||
7.00%, 10/12/28(9) |
| 728 | 796,399 | |||||||||
7.375%, 5/14/30(9) | 2,804 | 3,082,611 | ||||||||||
Total Bahrain | $ | 6,889,299 | ||||||||||
Barbados — 0.2% | ||||||||||||
Government of Barbados | ||||||||||||
6.50%, 10/1/29(10) | 3,080 | $ | 3,029,809 | |||||||||
Total Barbados | $ | 3,029,809 | ||||||||||
Belarus — 0.2% | ||||||||||||
Republic of Belarus | ||||||||||||
5.875%, 2/24/26(9) |
| 440 | $ | 409,763 | ||||||||
6.378%, 2/24/31(9) |
| 782 | 733,919 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Belarus (continued) | ||||||||||||
Republic of Belarus (continued) | ||||||||||||
6.875%, 2/28/23(9) | 2,615 | $ | 2,546,508 | |||||||||
Total Belarus | $ | 3,690,190 | ||||||||||
Benin — 0.1% | ||||||||||||
Benin Government International Bond | ||||||||||||
5.75%, 3/26/26(9) | EUR | 1,928 | $ | 2,150,420 | ||||||||
Total Benin | $ | 2,150,420 | ||||||||||
Dominican Republic — 0.2% | ||||||||||||
Dominican Republic | ||||||||||||
4.50%, 1/30/30(9) |
| 2,600 | $ | 2,564,250 | ||||||||
5.875%, 1/30/60(9) |
| 230 | 218,500 | |||||||||
7.45%, 4/30/44(9) | 868 | 980,840 | ||||||||||
Total Dominican Republic | $ | 3,763,590 | ||||||||||
Egypt — 0.5% | ||||||||||||
Arab Republic of Egypt | ||||||||||||
8.15%, 11/20/59(9) |
| 2,338 | $ | 2,185,352 | ||||||||
8.50%, 1/31/47(9) |
| 3,343 | 3,246,802 | |||||||||
8.70%, 3/1/49(9) |
| 1,463 | 1,430,741 | |||||||||
8.875%, 5/29/50(9) | 355 | 352,834 | ||||||||||
Total Egypt | $ | 7,215,729 | ||||||||||
Fiji — 0.2% | ||||||||||||
Republic of Fiji | ||||||||||||
6.625%, 10/2/20(9) | 2,443 | $ | 2,443,000 | |||||||||
Total Fiji | $ | 2,443,000 | ||||||||||
Gabon — 0.1% | ||||||||||||
Republic of Gabon | ||||||||||||
6.625%, 2/6/31(9) | 2,356 | $ | 2,113,305 | |||||||||
Total Gabon | $ | 2,113,305 | ||||||||||
Guatemala — 0.0%(8) | ||||||||||||
Republic of Guatemala | ||||||||||||
6.125%, 6/1/50(9) | 435 | $ | 522,000 | |||||||||
Total Guatemala | $ | 522,000 | ||||||||||
Iraq — 0.0%(8) | ||||||||||||
Republic of Iraq | ||||||||||||
5.80%, 1/15/28(9) | 525 | $ | 468,896 | |||||||||
Total Iraq | $ | 468,896 |
39 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Jamaica — 0.2% | ||||||||||||
Jamaica Government International Bond | ||||||||||||
7.875%, 7/28/45 | 1,928 | $ | 2,454,344 | |||||||||
Total Jamaica | $ | 2,454,344 | ||||||||||
Jordan — 0.2% | ||||||||||||
Jordan Government International Bond | ||||||||||||
7.375%, 10/10/47(9) | 2,600 | $ | 2,592,389 | |||||||||
Total Jordan | $ | 2,592,389 | ||||||||||
Lebanon — 0.0%(8) | ||||||||||||
Lebanese Republic | ||||||||||||
6.25%, 6/12/25(6)(9) | 287 | $ | 47,176 | |||||||||
6.65%, 4/22/24(6)(9) | 700 | 112,000 | ||||||||||
7.00%, 3/20/28(6)(9) | 288 | 46,126 | ||||||||||
7.15%, 11/20/31(6)(9) | 451 | 72,399 | ||||||||||
8.20%, 5/17/33(6) | 156 | 25,242 | ||||||||||
8.25%, 5/17/34(6) | 129 | 20,640 | ||||||||||
Total Lebanon | $ | 323,583 | ||||||||||
Mongolia — 0.0%(8) | ||||||||||||
Mongolia Government International Bond | ||||||||||||
5.125%, 4/7/26(9)(11) | 200 | $ | 202,750 | |||||||||
Total Mongolia | $ | 202,750 | ||||||||||
Romania — 0.5% | ||||||||||||
Romania Government International Bond | ||||||||||||
3.375%, 1/28/50(9) | EUR | 2,758 | $ | 3,310,508 | ||||||||
3.624%, 5/26/30(9) | EUR | 610 | 810,548 | |||||||||
4.625%, 4/3/49(9) | EUR | 2,473 | 3,544,136 | |||||||||
Total Romania | $ | 7,665,192 | ||||||||||
Seychelles — 0.1% | ||||||||||||
Republic of Seychelles | ||||||||||||
8.00%, 1/1/26(9) | 1,232 | $ | 1,128,790 | |||||||||
Total Seychelles | $ | 1,128,790 | ||||||||||
Suriname — 0.1% | ||||||||||||
Suriname Government International Bond | ||||||||||||
9.25%, 10/26/26(9) | 2,289 | $ | 1,368,822 | |||||||||
Total Suriname | $ | 1,368,822 |
Security | Principal Amount* (000’s omitted) | Value | ||||||||||
Ukraine — 0.7% | ||||||||||||
Ukraine Government International Bond | ||||||||||||
0.00%, GDP-Linked, 5/31/40(9)(10)(17) | 3,181 | $ | 2,908,070 | |||||||||
9.75%, 11/1/28(9) | 7,659 | 8,305,037 | ||||||||||
Total Ukraine | $ | 11,213,107 | ||||||||||
United Arab Emirates — 0.2% | ||||||||||||
Abu Dhabi Government International Bond | ||||||||||||
3.125%, 9/30/49(9) | 2,300 | $ | 2,468,362 | |||||||||
Total United Arab Emirates | $ | 2,468,362 | ||||||||||
Total Foreign Government Securities |
| $ | 65,261,900 | |||||||||
Sovereign Loans — 0.6% | ||||||||||||
Borrower | Principal Amount (000’s omitted) | Value | ||||||||||
Kenya — 0.3% | ||||||||||||
Government of Kenya | ||||||||||||
Term Loan, 6.81%, (6 mo. USD LIBOR + 6.45%), Maturing June 29, 2025(14) | $ | 4,500 | $ | 4,455,792 | ||||||||
Total Kenya | $ | 4,455,792 | ||||||||||
Nigeria — 0.1% | ||||||||||||
Bank of Industry Limited | ||||||||||||
Term Loan, 6.27%, (3 mo. USD LIBOR + 6.00%), Maturing April 11, 2021(14)(18) | $ | 713 | $ | 687,850 | ||||||||
Total Nigeria | $ | 687,850 | ||||||||||
Tanzania — 0.2% | ||||||||||||
Government of the United Republic of Tanzania | ||||||||||||
Term Loan, 5.61%, (6 mo. USD LIBOR + 5.20%), Maturing June 23, 2022(14) | $ | 2,043 | $ | 2,061,423 | ||||||||
Term Loan, 5.78%, (6 mo. USD LIBOR + 5.20%), Maturing May 23, 2023(14) | 1,457 | 1,471,587 | ||||||||||
Total Tanzania | $ | 3,533,010 | ||||||||||
Total Sovereign Loans | $ | 8,676,652 |
40 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Mortgage Pass-Throughs — 16.9% |
| |||||||||||
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Federal Home Loan Mortgage Corp.: | ||||||||||||
2.50%, with maturity at 2050 | $ | 30,000 | $ | 31,615,119 | ||||||||
3.00%, with various maturities to 2050 | 39,894 | 42,290,761 | ||||||||||
4.50%, with various maturities to 2048 | 940 | 994,280 | ||||||||||
5.50%, with maturity at 2032 | 392 | 445,447 | ||||||||||
6.50%, with various maturities to 2036 | 3,302 | 3,754,888 | ||||||||||
7.00%, with various maturities to 2036 | 3,077 | 3,522,967 | ||||||||||
7.13%, with maturity at 2023 | 24 | 24,228 | ||||||||||
7.50%, with various maturities to 2035 | 2,017 | 2,232,859 | ||||||||||
7.65%, with maturity at 2022 | 4 | 4,246 | ||||||||||
8.00%, with various maturities to 2030 | 542 | 558,031 | ||||||||||
8.50%, with various maturities to 2022 | 68 | 72,669 | ||||||||||
9.00%, with various maturities to 2031 | 44 | 48,357 | ||||||||||
9.50%, with various maturities to 2025 | 2 | 2,091 | ||||||||||
$ | 85,565,943 | |||||||||||
Federal National Mortgage Association: | ||||||||||||
2.80%, (6 mo. USD LIBOR + 1.54%), with maturity at 2037(19) | $ | 1,048 | $ | 1,087,047 | ||||||||
2.776%, (COF + 1.25%), with | 669 | 675,251 | ||||||||||
3.00%, with maturity at 2050 | 19,683 | 20,845,811 | ||||||||||
3.245%, (1 yr. CMT + 2.265%), with maturity at 2036(19) | 5,124 | 5,347,791 | ||||||||||
4.50%, with maturity at 2042(20) | 6,319 | 7,060,284 | ||||||||||
5.00%, with various maturities to 2040(20) | 6,008 | 6,868,251 | ||||||||||
5.50%, with various maturities to 2033 | 621 | 714,175 | ||||||||||
6.00%, with various maturities to 2029 | 897 | 959,398 | ||||||||||
6.33%, (COF + 2.00%, Floor 6.328%), with maturity at 2032(19) | 1,282 | 1,403,803 | ||||||||||
6.50%, with various maturities to 2036(20) | 13,465 | 15,327,588 | ||||||||||
6.75%, with maturity at 2023 | 20 | 21,475 | ||||||||||
6.988%, with maturity at 2048 | 2,339 | 2,663,255 | ||||||||||
7.00%, with various maturities to 2037 | 3,421 | 3,901,567 | ||||||||||
7.50%, with various maturities to 2035 | 1,751 | 2,037,962 | ||||||||||
7.887%, with maturity at 2027(21) | 139 | 151,367 | ||||||||||
8.00%, with various maturities to 2027 | 212 | 229,118 | ||||||||||
8.224%, with maturity at 2028(21) | 33 | 36,453 | ||||||||||
8.232%, with maturity at 2024(21) | 7 | 6,954 | ||||||||||
8.277%, with maturity at 2029(21) | 33 | 36,123 | ||||||||||
8.298%, with maturity at 2027(21) | 48 | 53,143 | ||||||||||
8.50%, with various maturities to 2037 | 503 | 566,789 | ||||||||||
9.00%, with various maturities to 2032 | 519 | 573,079 | ||||||||||
9.132%, with maturity at 2025(21) | 2 | 2,020 | ||||||||||
9.50%, with various maturities to 2030 | 94 | 104,929 | ||||||||||
10.50%, with maturity at 2021 | 1 | 1,150 | ||||||||||
$ | 70,674,783 |
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Government National Mortgage Association: | ||||||||||||
3.00%, with maturity at 2050 | $ | 84,800 | $ | 89,572,776 | ||||||||
4.00%, with maturity at 2049 | 1,548 | 1,656,476 | ||||||||||
4.50%, with maturity at 2047 | 3,522 | 3,906,967 | ||||||||||
6.00%, with maturity at 2024 | 221 | 232,960 | ||||||||||
6.50%, with maturity at 2024(20) | 1,239 | 1,311,760 | ||||||||||
7.00%, with maturity at 2026 | 129 | 142,317 | ||||||||||
7.50%, with various maturities to 2032(20) | 2,482 | 2,732,421 | ||||||||||
8.00%, with various maturities to 2034(20) | 1,964 | 2,211,404 | ||||||||||
8.50%, with maturity at 2022 | 20 | 21,069 | ||||||||||
9.00%, with various maturities to 2025 | 265 | 287,071 | ||||||||||
9.50%, with various maturities to 2021 | 7 | 7,339 | ||||||||||
$ | 102,082,560 | |||||||||||
Total Mortgage Pass-Throughs |
| $ | 258,323,286 | |||||||||
Collateralized Mortgage Obligations — 15.3% |
| |||||||||||
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Federal Home Loan Mortgage Corp.: | ||||||||||||
Series 24, Class J, 6.25%, 11/25/23 | $ | 117 | $ | 125,078 | ||||||||
Series 1497, Class K, 7.00%, 4/15/23 | 87 | 93,551 | ||||||||||
Series 1529, Class Z, 7.00%, 6/15/23 | 162 | 173,852 | ||||||||||
Series 1620, Class Z, 6.00%, 11/15/23 | 100 | 106,926 | ||||||||||
Series 1677, Class Z, 7.50%, 7/15/23 | 88 | 94,479 | ||||||||||
Series 1702, Class PZ, 6.50%, 3/15/24 | 1,121 | 1,210,806 | ||||||||||
Series 2113, Class QG, 6.00%, 1/15/29 | 338 | 384,323 | ||||||||||
Series 2122, Class K, 6.00%, 2/15/29 | 67 | 75,562 | ||||||||||
Series 2130, Class K, 6.00%, 3/15/29 | 45 | 51,194 | ||||||||||
Series 2167, Class BZ, 7.00%, 6/15/29 | 54 | 62,501 | ||||||||||
Series 2182, Class ZB, 8.00%, 9/15/29 | 526 | 614,857 | ||||||||||
Series 2198, Class ZA, 8.50%, 11/15/29 | 585 | 676,969 | ||||||||||
Series 2458, Class ZB, 7.00%, 6/15/32 | 623 | 752,057 | ||||||||||
Series 3762, Class SH, 9.69%, (10.00% - 1 mo. USD LIBOR x 2.00), | 641 | 817,208 | ||||||||||
Series 4097, Class PE, 3.00%, 11/15/40 | 882 | 899,082 | ||||||||||
Series 4273, Class PU, 4.00%, 11/15/43 | 2,263 | 2,590,728 | ||||||||||
Series 4273, Class SP, 11.586%, (12.00% - 1 mo. USD LIBOR x 2.67), 11/15/43(22) | 503 | 844,830 | ||||||||||
Series 4337, Class YT, 3.50%, 4/15/49 | 3,094 | 3,097,752 | ||||||||||
Series 4416, Class SU, 8.29%, (8.60% - 1 mo. USD LIBOR x 2.00), | 351 | 354,362 | ||||||||||
Series 4452, Class ZJ, 3.00%, 11/15/44 | 3,184 | 3,203,212 | ||||||||||
Series 4584, Class PM, 3.00%, 5/15/46 | 2,450 | 2,478,820 |
41 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000’s omitted) | Value | ||||||||
Federal Home Loan Mortgage Corp.: (continued) | ||||||||||
Series 4594, Class FM, 1.155%, (1 mo. USD LIBOR + 1.00%), 6/15/46(14) | $ | 401 | $ | 400,364 | ||||||
Series 4608, Class TV, 3.50%, 1/15/55 | 5,444 | 5,534,405 | ||||||||
Series 4630, Class CZ, 3.00%, 12/15/43 | 2,459 | 2,459,501 | ||||||||
Series 4637, Class CU, 3.00%, 8/15/44 | 4,566 | 4,657,582 | ||||||||
Series 4637, Class QF, 1.155%, (1 mo. USD LIBOR + 1.00%), 4/15/44(14)(20) | 7,338 | 7,235,848 | ||||||||
Series 4639, Class KF, 1.455%, (1 mo. USD LIBOR + 1.30%), 12/15/44(14) | 2,526 | 2,522,825 | ||||||||
Series 4677, Class SB, 15.38%, (16.00% - 1 mo. USD LIBOR x 4.00), 4/15/47(22) | 123 | 123,548 | ||||||||
Series 4678, Class PC, 3.00%, 1/15/46 | 6,994 | 7,237,465 | ||||||||
Series 4774, Class MH, 4.50%, 12/15/42 | 3,020 | 3,068,811 | ||||||||
Series 4774, Class QD, 4.50%, 1/15/43 | 7,696 | 7,834,189 | ||||||||
Series 4776, Class C, 4.50%, 3/15/43 | 1,492 | 1,501,704 | ||||||||
Series 4858, Class LA, 4.50%, 8/15/43 | 76 | 76,417 | ||||||||
Series 4859, Class GA, 4.50%, 10/15/43 | 2,241 | 2,250,435 | ||||||||
Series 4911, Class JZ, 3.50%, 9/25/49 | 951 | 951,053 | ||||||||
Series 4980, Class ZP, 2.50%, 7/25/49 | 2,970 | 2,974,142 | ||||||||
Series 4996, Class ZA, 3.00%, 7/25/50 | 776 | 775,743 | ||||||||
Series 5028, Class TZ, 2.00%, 10/25/50 | 4,882 | 4,879,558 | ||||||||
Interest Only:(23) | ||||||||||
Series 284, Class S6, 5.948%, (6.10% - 1 mo. USD LIBOR), 10/15/42(22) | 2,704 | 460,577 | ||||||||
Series 362, Class C7, 3.50%, 9/15/47 | 14,059 | 1,143,706 | ||||||||
Series 362, Class C11, 4.00%, 12/15/47 | 12,253 | 1,270,066 | ||||||||
Series 3973, Class SG, 6.498%, (6.65% - 1 mo. USD LIBOR), 4/15/30(22) | 545 | 7,990 | ||||||||
Series 4067, Class JI, 3.50%, 6/15/27 | 2,152 | 152,384 | ||||||||
Series 4070, Class S, 5.948%, (6.10% - 1 mo. USD LIBOR), 6/15/32(22) | 5,738 | 932,763 | ||||||||
Series 4088, Class EI, 3.50%, 9/15/41 | 5,654 | 282,351 | ||||||||
Series 4094, Class CS, 5.848%, (6.00% - 1 mo. USD LIBOR), 8/15/42(22) | 2,199 | 426,675 | ||||||||
Series 4095, Class HS, 5.948%, (6.10% - 1 mo. USD LIBOR), 7/15/32(22) | 1,649 | 203,602 | ||||||||
Series 4109, Class ES, 5.998%, (6.15% - 1 mo. USD LIBOR), 12/15/41(22) | 86 | 22,691 | ||||||||
Series 4110, Class SA, 5.498%, (5.65% - 1 mo. USD LIBOR), 9/15/42(22) | 3,680 | 783,023 | ||||||||
Series 4149, Class S, 6.098%, (6.25% - 1 mo. USD LIBOR), 1/15/33(22) | 2,877 | 510,168 | ||||||||
Series 4188, Class AI, 3.50%, 4/15/28 | 1,684 | 109,637 | ||||||||
Series 4203, Class QS, 6.098%, (6.25% - 1 mo. USD LIBOR), 5/15/43(22) | 4,353 | 856,382 | ||||||||
Series 4408, Class IP, 3.50%, 4/15/44 | 4,391 | 331,311 | ||||||||
Series 4435, Class BI, 3.50%, 7/15/44 | 9,479 | 851,776 | ||||||||
Series 4629, Class QI, 3.50%, 11/15/46 | 4,982 | 339,192 |
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Federal Home Loan Mortgage Corp.: (continued) | ||||||||||||
Interest Only:(23) (continued) | ||||||||||||
Series 4644, Class TI, 3.50%, 1/15/45 | $ | 5,020 | $ | 278,841 | ||||||||
Series 4653, Class PI, 3.50%, 7/15/44 | 1,644 | 19,272 | ||||||||||
Series 4667, Class PI, 3.50%, 5/15/42 | 5,817 | 131,374 | ||||||||||
Series 4676, Class DI, 4.00%, 7/15/44 | 7,852 | 195,744 | ||||||||||
Series 4744, Class IO, 4.00%, 11/15/47 | 7,123 | 720,511 | ||||||||||
Series 4749, Class IL, 4.00%, 12/15/47 | 3,086 | 339,508 | ||||||||||
Series 4767, Class IM, 4.00%, 5/15/45 | 4,121 | 100,623 | ||||||||||
Series 4793, Class SD, 6.048%, (6.20% - 1 mo. USD LIBOR), 6/15/48(22) | 16,105 | 2,032,338 | ||||||||||
Series 4966, Class SY, 5.898%, (6.05% - 1 mo. USD LIBOR), 4/25/50(22) | 31,079 | 4,728,970 | ||||||||||
Principal Only:(24) | ||||||||||||
Series 242, Class PO, 0.00%, 11/15/36 | 3,611 | 3,468,798 | ||||||||||
Series 259, Class PO, 0.00%, 4/15/39 | 2,142 | 2,130,503 | ||||||||||
Series 3606, Class PO, 0.00%, 12/15/39 | 2,372 | 2,243,401 | ||||||||||
Series 4417, Class KO, 0.00%, 12/15/43 | 485 | 429,518 | ||||||||||
Series 4478, Class PO, 0.00%, 5/15/45 | 1,534 | 1,443,744 | ||||||||||
Series 4754, Class JO, 0.00%, 4/15/44 | 1,374 | 1,260,760 | ||||||||||
$ | 101,399,938 | |||||||||||
Federal Home Loan Mortgage Corp. Structured Agency Credit Risk Debt Notes | ||||||||||||
Series 2020-DNA4, Class M2, 3.90%, (1 mo. USD LIBOR + 3.75%), | $ | 8,000 | $ | 8,102,622 | ||||||||
Federal National Mortgage Association: | ||||||||||||
Series G92-44, Class ZQ, 8.00%, 7/25/22 | 1 | 599 | ||||||||||
Series G92-46, Class Z, 7.00%, 8/25/22 | 29 | 30,260 | ||||||||||
Series G92-60, Class Z, 7.00%, 10/25/22 | 43 | 44,679 | ||||||||||
Series G93-35, Class ZQ, 6.50%, 11/25/23 | 1,361 | 1,454,258 | ||||||||||
Series G93-40, Class H, 6.40%, 12/25/23 | 305 | 325,638 | ||||||||||
Series 1991-98, Class J, 8.00%, 8/25/21 | 9 | 9,226 | ||||||||||
Series 1992-77, Class ZA, 8.00%, 5/25/22 | 49 | 51,193 | ||||||||||
Series 1992-103, Class Z, 7.50%, 6/25/22 | 6 | 6,159 | ||||||||||
Series 1992-113, Class Z, 7.50%, 7/25/22 | 17 | 17,632 | ||||||||||
Series 1992-185, Class ZB, 7.00%, 10/25/22 | 25 | 26,241 | ||||||||||
Series 1993-16, Class Z, 7.50%, 2/25/23 | 64 | 67,978 | ||||||||||
Series 1993-22, Class PM, 7.40%, 2/25/23 | 51 | 54,258 | ||||||||||
Series 1993-25, Class J, 7.50%, 3/25/23 | 79 | 84,291 | ||||||||||
Series 1993-30, Class PZ, 7.50%, 3/25/23 | 145 | 155,101 | ||||||||||
Series 1993-42, Class ZQ, 6.75%, 4/25/23 | 195 | 207,207 | ||||||||||
Series 1993-56, Class PZ, 7.00%, 5/25/23 | 33 | 34,902 | ||||||||||
Series 1993-156, Class ZB, 7.00%, 9/25/23 | 41 | 43,727 | ||||||||||
Series 1994-45, Class Z, 6.50%, 2/25/24 | 283 | 301,412 | ||||||||||
Series 1994-89, Class ZQ, 8.00%, 7/25/24 | 249 | 274,633 | ||||||||||
Series 1996-57, Class Z, 7.00%, 12/25/26 | 271 | 305,715 | ||||||||||
Series 1997-77, Class Z, 7.00%, 11/18/27 | 142 | 162,129 | ||||||||||
Series 1998-44, Class ZA, 6.50%, 7/20/28 | 146 | 165,243 |
42 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000’s omitted) | Value | ||||||||
Federal National Mortgage Association: (continued) | ||||||||||
Series 1999-45, Class ZG, 6.50%, 9/25/29 | $ | 44 | $ | 50,715 | ||||||
Series 2000-22, Class PN, 6.00%, 7/25/30 | 585 | 672,022 | ||||||||
Series 2002-1, Class G, 7.00%, 7/25/23 | 49 | 52,177 | ||||||||
Series 2002-21, Class PE, 6.50%, 4/25/32 | 373 | 437,080 | ||||||||
Series 2005-75, Class CS, 23.608%, (24.20% - 1 mo. USD LIBOR x 4.00), 9/25/35(22) | 948 | 1,712,536 | ||||||||
Series 2007-74, Class AC, 5.00%, 8/25/37 | 4,140 | 4,676,852 | ||||||||
Series 2011-49, Class NT, 6.00%, (66.00% - 1 mo. USD LIBOR x 10.00, Cap 6.00%), 6/25/41(22) | 443 | 497,215 | ||||||||
Series 2011-109, Class PE, 3.00%, 8/25/41 | 2,224 | 2,281,652 | ||||||||
Series 2012-134, Class ZT, 2.00%, 12/25/42 | 2,333 | 2,265,913 | ||||||||
Series 2013-6, Class TA, 1.50%, 1/25/43 | 3,751 | 3,769,454 | ||||||||
Series 2013-52, Class MD, 1.25%, 6/25/43 | 3,537 | 3,500,873 | ||||||||
Series 2013-67, Class NF, 1.148%, (1 mo. USD LIBOR + 1.00%), 7/25/43(14) | 2,784 | 2,754,697 | ||||||||
Series 2014-64, Class PA, 3.00%, 3/25/44 | 2,221 | 2,269,993 | ||||||||
Series 2016-22, Class ZE, 3.00%, 6/25/44 | 458 | 458,137 | ||||||||
Series 2017-13, Class KF, 1.155%, (1 mo. USD LIBOR + 1.00%), 2/25/47(14) | 117 | 116,600 | ||||||||
Series 2017-15, Class LE, 3.00%, 6/25/46(20) | 6,433 | 6,602,442 | ||||||||
Series 2017-39, Class JZ, 3.00%, 5/25/47 | 553 | 555,317 | ||||||||
Series 2017-48, Class LG, 2.75%, 5/25/47 | 4,915 | 5,180,639 | ||||||||
Series 2017-66, Class ZJ, 3.00%, 9/25/57 | 1,346 | 1,345,156 | ||||||||
Series 2017-75, Class Z, 3.00%, 9/25/57 | 898 | 897,885 | ||||||||
Series 2017-76, Class Z, 3.00%, 10/25/57 | 115 | 115,117 | ||||||||
Series 2018-18, Class QD, 4.50%, 5/25/45 | 14,304 | 14,682,988 | ||||||||
Series 2019-50, Class NZ, 3.50%, 9/25/49 | 396 | 395,679 | ||||||||
Series 2020-45, Class HZ, 2.50%, 7/25/50 | 5,799 | 5,738,917 | ||||||||
Series 2020-46, Class KZ, 2.50%, 7/25/50 | 8,003 | 8,025,459 | ||||||||
Series 2020-46, Class QZ, 2.50%, 3/15/48 | 1,674 | 1,675,281 | ||||||||
Interest Only:(23) | ||||||||||
Series 2010-124, Class SJ, 5.902%, (6.05% - 1 mo. USD LIBOR), 11/25/38(22) | 668 | 14,229 | ||||||||
Series 2011-101, Class IC, 3.50%, 10/25/26 | 5,563 | 343,756 | ||||||||
Series 2011-101, Class IE, 3.50%, 10/25/26 | 1,777 | 109,417 | ||||||||
Series 2012-24, Class S, 5.352%, (5.50% - 1 mo. USD LIBOR), 5/25/30(22) | 710 | 15,758 | ||||||||
Series 2012-33, Class CI, 3.50%, 3/25/27 | 3,303 | 193,373 | ||||||||
Series 2012-94, Class KS, 6.502%, (6.65% - 1 mo. USD LIBOR), 5/25/38(22) | 3,090 | 141,763 | ||||||||
Series 2012-97, Class PS, 6.002%, (6.15% - 1 mo. USD LIBOR), 3/25/41(22) | 4,002 | 275,103 | ||||||||
Series 2012-103, Class GS, 5.952%, (6.10% - 1 mo. USD LIBOR), 2/25/40(22) | 1,139 | 12,296 | ||||||||
Series 2012-118, Class IN, 3.50%, 11/25/42 | 6,719 | 827,572 | ||||||||
Series 2012-124, Class IO, 1.968%, 11/25/42(21) | 2,929 | 149,805 |
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Federal National Mortgage Association: continued) | ||||||||||||
Interest Only:(23) (continued) | ||||||||||||
Series 2012-125, Class IG, 3.50%, 11/25/42 | $ | 20,822 | $ | 2,670,880 | ||||||||
Series 2012-150, Class SK, 6.002%, (6.15% - 1 mo. USD LIBOR), 1/25/43(22) | 3,574 | 652,568 | ||||||||||
Series 2013-12, Class SP, 5.502%, (5.65% - 1 mo. USD LIBOR), 11/25/41(22) | 1,040 | 94,569 | ||||||||||
Series 2013-15, Class DS, 6.052%, (6.20% - 1 mo. USD LIBOR), 3/25/33(22) | 7,482 | 1,482,355 | ||||||||||
Series 2013-16, Class SY, 6.002%, (6.15% - 1 mo. USD LIBOR), 3/25/43(22) | 1,714 | 348,655 | ||||||||||
Series 2013-54, Class HS, 6.152%, (6.30% - 1 mo. USD LIBOR), 10/25/41(22) | 1,347 | 92,791 | ||||||||||
Series 2013-64, Class PS, 6.102%, (6.25% - 1 mo. USD LIBOR), 4/25/43(22) | 2,472 | 419,955 | ||||||||||
Series 2013-75, Class SC, 6.102%, (6.25% - 1 mo. USD LIBOR), 7/25/42(22) | 4,889 | 515,193 | ||||||||||
Series 2014-32, Class EI, 4.00%, 6/25/44 | 963 | 123,840 | ||||||||||
Series 2014-55, Class IN, 3.50%, 7/25/44 | 2,313 | 253,544 | ||||||||||
Series 2014-89, Class IO, 3.50%, 1/25/45 | 2,873 | 233,640 | ||||||||||
Series 2015-17, Class SA, 6.052%, (6.20% - 1 mo. USD LIBOR), 11/25/43(22) | 2,708 | 183,079 | ||||||||||
Series 2015-52, Class MI, 3.50%, 7/25/45 | 2,763 | 281,030 | ||||||||||
Series 2017-46, Class NI, 3.00%, 8/25/42 | 7,005 | 131,873 | ||||||||||
Series 2018-21, Class IO, 3.00%, 4/25/48 | 14,004 | 1,113,489 | ||||||||||
Series 2019-1, Class AS, 5.852%, (6.00% - 1 mo. USD LIBOR), 2/25/49(22) | 18,193 | 3,227,236 | ||||||||||
Series 2019-33, Class SK, 5.902%, (6.05% - 1 mo. USD LIBOR), 7/25/49(22) | 16,524 | 1,812,030 | ||||||||||
Series 2020-23, Class SP, 5.902%, (6.05% - 1 mo. USD LIBOR), 2/25/50(22) | 9,705 | 1,560,269 | ||||||||||
Principal Only:(24) | ||||||||||||
Series 379, Class 1, 0.00%, 5/25/37 | 2,257 | 2,172,838 | ||||||||||
Series 2006-8, Class WQ, 0.00%, 3/25/36 | 3,410 | 3,142,328 | ||||||||||
$ | 105,251,133 | |||||||||||
Government National Mortgage Association: | ||||||||||||
Series 2011-156, Class GA, 2.00%, 12/16/41 | $ | 339 | $ | 336,409 | ||||||||
Series 2017-121, Class DF, 0.656%, (1 mo. USD LIBOR + 0.50%), | 9,095 | 9,149,055 | ||||||||||
Series 2017-137, Class AF, 0.656%, (1 mo. USD LIBOR + 0.50%), | 5,090 | 5,120,229 | ||||||||||
Series 2017-141, Class KZ, 3.00%, 9/20/47 | 1,052 | 1,052,541 | ||||||||||
Series 2018-6, Class JZ, 4.00%, 1/20/48 | 4,617 | 4,725,754 | ||||||||||
Series 2018-67, Class LT, 4.50%, (13.50% - 1 mo. USD LIBOR x 2.25, Cap 4.50%), 4/20/48(22) | 1,410 | 1,411,468 | ||||||||||
Series 2019-97, Class ZC, 3.50%, 8/20/49 | 1,317 | 1,316,702 | ||||||||||
Series 2019-108, Class KZ, 3.50%, 8/20/49 | 2,321 | 2,329,247 | ||||||||||
Series 2019-115, Class ZH, 4.00%, 9/20/49 | 603 | 602,282 |
43 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Government National Mortgage Association: (continued) | ||||||||||||
Interest Only:(23) | ||||||||||||
Series 2017-104, Class SD, 6.044%, (6.20% - 1 mo. USD LIBOR), 7/20/47(22) | $ | 6,066 | $ | 1,074,249 | ||||||||
$ | 27,117,936 | |||||||||||
Total Collateralized Mortgage Obligations |
| $ | 233,769,007 | |||||||||
Commercial Mortgage-Backed Securities — 5.0% |
| |||||||||||
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Agate Bay Mortgage Trust | ||||||||||||
Series 2015-1, Class A4, 3.50%, 1/25/45(10)(21) | $ | 281 | $ | 283,260 | ||||||||
BAMLL Commercial Mortgage Securities Trust | ||||||||||||
Series 2019-BPR, Class ENM, 3.719%, 11/5/32(10)(21) | 795 | 577,865 | ||||||||||
Series 2019-BPR, Class FNM, 3.719%, 11/5/32(10)(21) | 3,205 | 2,031,369 | ||||||||||
CFCRE Commercial Mortgage Trust | ||||||||||||
Series 2016-C3, Class D, 3.052%, 1/10/48(10)(21) | 3,500 | 2,072,444 | ||||||||||
Series 2016-C7, Class D, 4.577%, 12/10/54(10)(21) | 1,675 | 1,349,344 | ||||||||||
Citigroup Commercial Mortgage Trust | ||||||||||||
Series 2015-P1, Class D, 3.225%, 9/15/48(10) | 1,000 | 794,244 | ||||||||||
Series 2017-MDRB, Class C, 2.652%, (1 mo. USD LIBOR + 2.50%), 7/15/30(10)(14) | 5,000 | 4,737,513 | ||||||||||
COMM Mortgage Trust | ||||||||||||
Series 2013-CR11, Class D, 5.285%, 8/10/50(10)(21) | 7,400 | 5,998,830 | ||||||||||
Series 2015-CR22, Class D, 4.244%, 3/10/48(10)(21) | 4,100 | 3,639,797 | ||||||||||
Credit Suisse Mortgage Trust | ||||||||||||
Series 2016-NXSR, Class C, 4.503%, 12/15/49(21) | 2,770 | 2,613,149 | ||||||||||
Series 2016-NXSR, Class D, 4.503%, 12/15/49(10)(21) | 3,000 | 2,454,201 | ||||||||||
Federal National Mortgage Association Multifamily Connecticut Avenue Securities Trust | ||||||||||||
Series 2019-01, Class M7, 1.848%, (1 mo. USD LIBOR + 1.70%), 10/15/49(10)(14) | 213 | 204,357 | ||||||||||
Series 2019-01, Class M10, 3.398%, (1 mo. USD LIBOR + 3.25%), 10/15/49(10)(14) | 120 | 111,670 | ||||||||||
Series 2020-01, Class M10, 3.898%, (1 mo. USD LIBOR + 3.75%), | 2,000 | 1,883,819 |
Security | Principal Amount (000’s omitted) | Value | ||||||||
JPMBB Commercial Mortgage Securities Trust | ||||||||||
Series 2014-C22, Class D, 4.706%, 9/15/47(10)(21) | $ | 5,276 | $ | 3,431,540 | ||||||
Series 2014-C25, Class D, 4.099%, 11/15/47(10)(21) | 4,400 | 3,161,913 | ||||||||
Series 2015-C29, Class D, 3.852%, 5/15/48(21) | 2,000 | 1,521,346 | ||||||||
JPMorgan Chase Commercial Mortgage Securities Trust | ||||||||||
Series 2011-C5, Class D, | 7,167 | 6,003,820 | ||||||||
Series 2013-C13, Class D, 4.214%, 1/15/46(10)(21) | 3,000 | 2,949,900 | ||||||||
Series 2013-C16, Class D, 5.194%, 12/15/46(10)(21) | 3,500 | 3,376,928 | ||||||||
Series 2014-DSTY, Class B, 3.771%, 6/10/27(10) | 2,600 | 780,478 | ||||||||
Morgan Stanley Bank of America Merrill Lynch Trust | ||||||||||
Series 2015-C23, Class D, 4.289%, 7/15/50(10)(21) | 2,000 | 1,788,119 | ||||||||
Series 2016-C29, Class D, | 3,577 | 2,749,145 | ||||||||
Series 2016-C32, Class D, 3.396%, 12/15/49(10)(21) | 1,600 | 1,099,648 | ||||||||
Morgan Stanley Capital I Trust | ||||||||||
Series 2016-UBS12, Class D, 3.312%, 12/15/49(10) | 4,489 | 3,305,131 | ||||||||
Series 2017-CLS, Class A, 0.852%, (1 mo. USD LIBOR + 0.70%), 11/15/34(10)(14) | 2,000 | 1,996,171 | ||||||||
Series 2019-BPR, Class C, 3.202%, (1 mo. USD LIBOR + 3.05%), 5/15/36(10)(14) | 1,845 | 1,614,274 | ||||||||
Motel 6 Trust | ||||||||||
Series 2017-MTL6, Class C, 1.552%, (1 mo. USD LIBOR + 1.40%), | 2,407 | 2,354,402 | ||||||||
RETL Trust | ||||||||||
Series 2019-RVP, Class B, 1.702%, (1 mo. USD LIBOR + 1.55%), 3/15/36(10)(14) | 735 | 700,534 | ||||||||
UBS Commercial Mortgage Trust | ||||||||||
Series 2012-C1, Class D, | 3,000 | 2,222,602 | ||||||||
UBS-Barclays Commercial Mortgage Trust | ||||||||||
Series 2013-C6, Class D, | 4,437 | 2,900,522 | ||||||||
Wells Fargo Commercial Mortgage Trust | ||||||||||
Series 2013-LC12, Class D, 4.411%, 7/15/46(10)(21) | 3,000 | 1,038,467 | ||||||||
Series 2015-C31, Class D, 3.852%, 11/15/48 | 2,475 | 2,056,971 | ||||||||
Series 2015-LC22, Class C, 4.688%, 9/15/58(21) | 1,250 | 1,250,815 | ||||||||
Series 2016-C35, Class D, 3.142%, 7/15/48(10) | 1,850 | 1,375,032 | ||||||||
Series 2016-C36, Class D, 2.942%, 11/15/59(10) | 1,500 | 984,801 | ||||||||
Total Commercial Mortgage-Backed Securities |
| $ | 77,414,421 |
44 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Asset-Backed Securities — 7.6% |
| |||||||||
Security | Principal Amount (000’s omitted) | Value | ||||||||
Alinea CLO, Ltd. | ||||||||||
Series 2018-1A, Class E, 6.272%, (3 mo. USD LIBOR + 6.00%), 7/20/31(10)(14) | $ | 1,000 | $ | 877,501 | ||||||
AMMC CLO 15, Ltd. | ||||||||||
Series 2014-15A, Class ERR, 7.185%, (3 mo. USD LIBOR + 6.91%), | 500 | 442,599 | ||||||||
AMMC CLO XII, Ltd. | ||||||||||
Series 2013-12A, Class ER, 6.423%, (3 mo. USD LIBOR + 6.18%), | 2,000 | 1,542,259 | ||||||||
Ares LII CLO, Ltd. | ||||||||||
Series 2019-52A, Class E, 6.808%, (3 mo. USD LIBOR + 6.55%), 4/22/31(10)(14) | 1,000 | 952,353 | ||||||||
Ares XL CLO, Ltd. | ||||||||||
Series 2016-40A, Class DR, 6.625%, (3 mo. USD LIBOR + 6.35%), | 1,000 | 911,372 | ||||||||
Ares XXXIV CLO, Ltd. | ||||||||||
Series 2015-2A, Class ER, 7.123%, (3 mo. USD LIBOR + 6.85%), 4/17/33(10)(14) | 2,000 | 1,836,664 | ||||||||
Ares XXXVR CLO, Ltd. | ||||||||||
Series 2015-35RA, Class E, 5.975%, (3 mo. USD LIBOR + 5.70%), | 2,000 | 1,769,756 | ||||||||
Babson CLO, Ltd. | ||||||||||
Series 2016-1A, Class ER, 6.256%, (3 mo. USD LIBOR + 6.00%), 7/23/30(10)(14) | 1,000 | 857,794 | ||||||||
Bain Capital Credit CLO, Ltd. | ||||||||||
Series 2017-2A, Class E, 6.595%, (3 mo. USD LIBOR + 6.35%), 7/25/30(10)(14) | 2,000 | 1,689,428 | ||||||||
Bardot CLO, Ltd. | ||||||||||
Series 2019-2A, Class E, 7.208%, (3 mo. USD LIBOR + 6.95%), 10/22/32(10)(14) | 1,850 | 1,783,132 | ||||||||
Benefit Street Partners CLO XVI, Ltd. | ||||||||||
Series 2018-16A, Class E, 6.973%, (3 mo. USD LIBOR + 6.70%), 1/17/32(10)(14) | 3,000 | 2,747,307 | ||||||||
Benefit Street Partners CLO XVII, Ltd. | ||||||||||
Series 2019-17A, Class E, 6.875%, (3 mo. USD LIBOR + 6.60%), 7/15/32(10)(14) | 3,000 | 2,810,586 | ||||||||
Benefit Street Partners CLO XVIII, Ltd. | ||||||||||
Series 2019-18A, Class E, 7.175%, (3 mo. USD LIBOR + 6.90%), 10/15/32(10)(14) | 4,500 | 4,313,637 | ||||||||
BlueMountain CLO XXIV, Ltd. | ||||||||||
Series 2019-24A, Class E, 7.032%, (3 mo. USD LIBOR + 6.76%), 4/20/31(10)(14) | 1,000 | 964,015 | ||||||||
BlueMountain CLO XXV, Ltd. | ||||||||||
Series 2019-25A, Class E, 6.975%, (3 mo. USD LIBOR + 6.70%), 7/15/32(10)(14) | 4,500 | 4,284,139 | ||||||||
BlueMountain CLO XXVI, Ltd. | ||||||||||
Series 2019-26A, Class E, 7.972%, (3 mo. USD LIBOR + 7.70%), 10/20/32(10)(14) | 6,500 | 6,452,277 |
Security | Principal Amount (000’s omitted) | Value | ||||||||
BlueMountain CLO, Ltd. | ||||||||||
Series 2016-3A, Class ER, 6.23%, (3 mo. USD LIBOR + 5.95%), 11/15/30(10)(14) | $ | 2,000 | $ | 1,599,181 | ||||||
Series 2018-1A, Class E, 6.218%, (3 mo. USD LIBOR + 5.95%), 7/30/30(10)(14) | 1,000 | 808,529 | ||||||||
Canyon Capital CLO, Ltd. | ||||||||||
Series 2016-2A, Class ER, 6.275%, (3 mo. USD LIBOR + 6.00%), 10/15/31(10)(14) | 3,350 | 2,855,914 | ||||||||
Series 2019-2A, Class E, 7.425%, (3 mo. USD LIBOR + 7.15%), 10/15/32(10)(14) | 1,000 | 971,689 | ||||||||
Carlyle Global Market Strategies CLO, Ltd. | ||||||||||
Series 2012-3A, Class DR2, 6.768%, (3 mo. USD LIBOR + 6.50%), 1/14/32(10)(14) | 2,000 | 1,551,981 | ||||||||
Series 2014-4RA, Class D, 5.925%, (3 mo. USD LIBOR + 5.65%), 7/15/30(10)(14) | 1,250 | 956,404 | ||||||||
Series 2015-5A, Class DR, 6.972%, (3 mo. USD LIBOR + 6.70%), 1/20/32(10)(14) | 1,000 | 795,242 | ||||||||
Series C17A, Class DR, 6.268%, (3 mo. USD LIBOR + 6.00%), 4/30/31(10)(14) | 1,750 | 1,467,786 | ||||||||
Cedar Funding X CLO, Ltd. | ||||||||||
Series 2019-10A, Class E, 7.272%, (3 mo. USD LIBOR + 7.00%), 10/20/32(10)(14) | 1,500 | 1,433,163 | ||||||||
Cole Park CLO, Ltd. | ||||||||||
Series 2015-1A, Class ER, 6.872%, (3 mo. USD LIBOR + 6.60%), 10/20/28(10)(14) | 2,000 | 1,831,598 | ||||||||
Dryden Senior Loan Fund | ||||||||||
Series 2015-41A, Class ER, 5.575%, (3 mo. USD LIBOR + 5.30%), 4/15/31(10)(14) | 2,000 | 1,708,395 | ||||||||
Series 2016-42A, Class ER, 5.825%, (3 mo. USD LIBOR + 5.55%), 7/15/30(10)(14) | 1,000 | 885,924 | ||||||||
FOCUS Brands Funding, LLC | ||||||||||
Series 2017-1A, Class A2I, | 1,567 | 1,454,538 | ||||||||
Fort Washington CLO, Ltd. | ||||||||||
Series 2019-1A, Class E, 7.522%, (3 mo. USD LIBOR + 7.25%), 10/20/32(10)(14) | 1,500 | 1,361,955 | ||||||||
Galaxy XIX CLO, Ltd. | ||||||||||
Series 2015-19A, Class D2R, 7.264%, (3 mo. USD LIBOR + 7.00%), 7/24/30(10)(14) | 1,600 | 1,427,308 | ||||||||
Galaxy XV CLO, Ltd. | ||||||||||
Series 2013-15A, Class ER, 6.92%, (3 mo. USD LIBOR + 6.65%), 10/15/30(10)(14) | 3,275 | 2,894,800 | ||||||||
Galaxy XXI CLO, Ltd. | ||||||||||
Series 2015-21A, Class ER, 5.522%, (3 mo. USD LIBOR + 5.25%), 4/20/31(10)(14) | 1,100 | 926,934 | ||||||||
Galaxy XXV CLO, Ltd. | ||||||||||
Series 2018-25A, Class E, 6.195%, (3 mo. USD LIBOR + 5.95%), 10/25/31(10)(14) | 1,000 | 874,494 | ||||||||
Golub Capital Partners CLO 37B, Ltd. | ||||||||||
Series 2018-37A, Class E, 6.022%, (3 mo. USD LIBOR + 5.75%), 7/20/30(10)(14) | 3,000 | 2,574,288 |
45 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000’s omitted) | Value | ||||||||
Kayne CLO 5, Ltd. | ||||||||||
Series 2019-5A, Class E, 6.964%, (3 mo. USD LIBOR + 6.70%), 7/24/32(10)(14) | $ | 4,550 | $ | 4,387,783 | ||||||
Madison Park Funding XVII, Ltd. | ||||||||||
Series 2015-17A, Class ER, 6.771%, (3 mo. USD LIBOR + 6.50%), | 2,000 | 1,820,746 | ||||||||
Madison Park Funding XXXVI, Ltd. | ||||||||||
Series 2019-36A, Class E, 7.525%, (3 mo. USD LIBOR + 7.25%), 1/15/33(10)(14) | 1,500 | 1,480,852 | ||||||||
Madison Park Funding XXXVII, Ltd. | ||||||||||
Series 2019-37A, Class E, 6.825%, (3 mo. USD LIBOR + 6.55%), 7/15/32(10)(14) | 5,500 | 5,226,842 | ||||||||
Magnetite XXII, Ltd. | ||||||||||
Series 2019-22A, Class E, 7.025%, (3 mo. USD LIBOR + 6.75%), 4/15/31(10)(14) | 1,500 | 1,451,139 | ||||||||
Magnetite XXIV, Ltd. | ||||||||||
Series 2019-24A, Class E, 7.225%, (3 mo. USD LIBOR + 6.95%), 1/15/33(10)(14) | 3,000 | 2,999,889 | ||||||||
MVW Owner Trust | ||||||||||
Series 2014-1A, Class A, | 270 | 270,847 | ||||||||
Neuberger Berman CLO XXII, Ltd. | ||||||||||
Series 2016-22A, Class ER, 6.333%, (3 mo. USD LIBOR + 6.06%), | 1,500 | 1,362,735 | ||||||||
Neuberger Berman Loan Advisers CLO 30, Ltd. | ||||||||||
Series 2018-30A, Class E, 7.022%, (3 mo. USD LIBOR + 6.75%), 1/20/31(10)(14) | 2,000 | 1,938,636 | ||||||||
Neuberger Berman Loan Advisers CLO 31, Ltd. | ||||||||||
Series 2019-31A, Class E, 7.022%, (3 mo. USD LIBOR + 6.75%), 4/20/31(10)(14) | 1,000 | 972,714 | ||||||||
Neuberger Berman Loan Advisers CLO 33, Ltd. | ||||||||||
Series 2019-33A, Class E, 7.071%, (3 mo. USD LIBOR + 6.80%), 10/16/32(10)(14) | 2,250 | 2,198,455 | ||||||||
Oaktree CLO, Ltd. | ||||||||||
Series 2019-3A, Class E, 7.042%, (3 mo. USD LIBOR + 6.77%), 7/20/31(10)(14) | 3,625 | 3,045,328 | ||||||||
Palmer Square CLO, Ltd. | ||||||||||
Series 2013-2A, Class DRR, 6.123%, (3 mo. USD LIBOR + 5.85%), | 2,000 | 1,796,578 | ||||||||
Series 2018-2A, Class D, 5.871%, (3 mo. USD LIBOR + 5.60%), 7/16/31(10)(14) | 1,000 | 910,101 | ||||||||
Series 2019-1A, Class D, 7.265%, (3 mo. USD LIBOR + 7.00%), 11/14/32(10)(14) | 2,000 | 1,980,034 | ||||||||
Purchasing Power Funding, LLC | ||||||||||
Series 2018-A, Class A, 3.34%, 8/15/22(10) | 188 | 188,525 | ||||||||
Regatta IX Funding, Ltd. | ||||||||||
Series 2017-1A, Class E, 6.273%, (3 mo. USD LIBOR + 6.00%), 4/17/30(10)(14) | 450 | 414,729 | ||||||||
Regatta XII Funding, Ltd. | ||||||||||
Series 2019-1A, Class E, 7.125%, (3 mo. USD LIBOR + 6.85%), 10/15/32(10)(14) | 2,000 | 1,916,942 |
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Regatta XIII Funding, Ltd. | ||||||||||||
Series 2018-2A, Class D, 6.225%, (3 mo. USD LIBOR + 5.95%), 7/15/31(10)(14) | $ | 2,000 | $ | 1,722,833 | ||||||||
Regatta XIV Funding, Ltd. | ||||||||||||
Series 2018-3A, Class E, 6.195%, (3 mo. USD LIBOR + 5.95%), 10/25/31(10)(14) | 1,000 | 877,747 | ||||||||||
Regatta XVI Funding, Ltd. | ||||||||||||
Series 2019-2A, Class E, 7.275%, (3 mo. USD LIBOR + 7.00%), 1/15/33(10)(14) | 1,800 | 1,744,398 | ||||||||||
Southwick Park CLO, LLC | ||||||||||||
Series 2019-4A, Class E, 6.972%, (3 mo. USD LIBOR + 6.70%), 7/20/32(10)(14) | 6,000 | 5,780,790 | ||||||||||
Vibrant CLO IX, Ltd. | ||||||||||||
Series 2018-9A, Class D, 6.522%, (3 mo. USD LIBOR + 6.25%), 7/20/31(10)(14) | 1,000 | 777,767 | ||||||||||
Vibrant CLO XI, Ltd. | ||||||||||||
Series 2019-11A, Class D, 7.042%, (3 mo. USD LIBOR + 6.77%), | 575 | 513,623 | ||||||||||
Voya CLO, Ltd. | ||||||||||||
Series 2015-3A, Class DR, 6.472%, (3 mo. USD LIBOR + 6.20%), | 3,000 | 2,503,779 | ||||||||||
Series 2016-3A, Class DR, 6.352%, (3 mo. USD LIBOR + 6.08%), | 1,400 | 1,168,653 | ||||||||||
Series 2019-4A, Class E, 7.755%, (3 mo. USD LIBOR + 7.48%), 1/15/33(10)(14) | 3,000 | 2,905,758 | ||||||||||
Wellfleet CLO, Ltd. | ||||||||||||
Series 2020-1A, Class D, 8.422%, (3 mo. USD LIBOR + 7.24%), 4/15/33(10)(14) | 2,000 | 1,969,678 | ||||||||||
Total Asset-Backed Securities (identified cost $125,732,135) | $ | 116,942,843 | ||||||||||
Common Stocks — 0.6% | ||||||||||||
Security | Shares | Value | ||||||||||
Aerospace and Defense — 0.0%(8) | ||||||||||||
IAP Global Services, LLC(3)(25)(26) | 31 | $ | 461,947 | |||||||||
$ | 461,947 | |||||||||||
Automotive — 0.0%(8) | ||||||||||||
Dayco Products, LLC(25)(26) | 27,250 | $ | 204,375 | |||||||||
$ | 204,375 | |||||||||||
Business Equipment and Services — 0.0%(8) | ||||||||||||
Crossmark Holdings, Inc.(25)(26) | 4,883 | $ | 280,773 | |||||||||
$ | 280,773 |
46 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | ||||||||||
Electronics / Electrical — 0.2% | ||||||||||||
Answers Corp.(3)(25)(26) | 78,756 | $ | 58,279 | |||||||||
Software Luxembourg Holding S.A.(25)(26) | 22,890 | 3,319,050 | ||||||||||
$ | 3,377,329 | |||||||||||
Nonferrous Metals / Minerals — 0.0%(8) | ||||||||||||
Acnr Holdings, Inc.(25)(26) | 3,818 | $ | 43,907 | |||||||||
$ | 43,907 | |||||||||||
Oil and Gas — 0.1% | ||||||||||||
AFG Holdings, Inc.(3)(25)(26) | 29,751 | $ | 588,475 | |||||||||
Fieldwood Energy, Inc.(25)(26) | 10,085 | 1,008 | ||||||||||
McDermott International, Ltd.(25)(26) | 93,940 | 225,456 | ||||||||||
Nine Point Energy Holdings, Inc.(3)(25)(27) | 29,787 | 0 | ||||||||||
RDV Resources, Inc., Class A(3)(25)(26) | 27,724 | 0 | ||||||||||
Samson Resources II, LLC, Class A(3)(26) | 45,294 | 294,411 | ||||||||||
Sunrise Oil & Gas, Inc., Class A(25)(26) | 15,647 | 109,529 | ||||||||||
$ | 1,218,879 | |||||||||||
Publishing — 0.2% | ||||||||||||
ION Media Networks, Inc.(3)(25)(26) | 5,187 | $ | 3,366,363 | |||||||||
Tweddle Group, Inc.(3)(25)(26) | 5,433 | 14,778 | ||||||||||
$ | 3,381,141 | |||||||||||
Radio and Television — 0.1% | ||||||||||||
Clear Channel Outdoor Holdings, Inc.(25)(26) | 74,443 | $ | 74,443 | |||||||||
Cumulus Media, Inc., Class A(25)(26) | 50,522 | 271,303 | ||||||||||
iHeartMedia, Inc., Class A(25)(26) | 31,657 | 257,055 | ||||||||||
$ | 602,801 | |||||||||||
Retailers (Except Food and Drug) — 0.0%(8) | ||||||||||||
David’s Bridal, LLC(3)(25)(26) | 40,851 | $ | 371,336 | |||||||||
$ | 371,336 | |||||||||||
Utilities — 0.0%(8) | ||||||||||||
Longview Intermediate Holdings, LLC, | 10,730 | $ | 87,235 | |||||||||
$ | 87,235 | |||||||||||
Total Common Stocks | $ | 10,029,723 |
Convertible Bonds — 0.1% | ||||||||||||
Security | Principal Amount (000’s omitted) | Value | ||||||||||
Electronics / Electrical — 0.1% | ||||||||||||
Western Digital Corp., 1.50%, 2/1/24 | $ | 793 | $ | 756,836 | ||||||||
$ | 756,836 | |||||||||||
Software and Services — 0.0%(8) | ||||||||||||
J2 Global, Inc., 1.75%, 11/1/26(10) | $ | 424 | $ | 377,030 | ||||||||
$ | 377,030 | |||||||||||
Total Convertible Bonds | $ | 1,133,866 | ||||||||||
Convertible Preferred Stocks — 0.0% |
| |||||||||||
Security | Shares | Value | ||||||||||
Oil and Gas — 0.0% | ||||||||||||
Nine Point Energy Holdings, Inc., Series A, 12.00%(3)(25)(27) | 555 | $ | 0 | |||||||||
Total Convertible Preferred Stocks | $ | 0 | ||||||||||
Preferred Stocks — 0.1% | ||||||||||||
Security | Shares | Value | ||||||||||
Building and Development — 0.1% | ||||||||||||
Brookfield Property Partners, L.P., Series A, 5.75%(26) | 40,000 | $ | 714,800 | |||||||||
$ | 714,800 | |||||||||||
Financial Services — 0.0%(8) | ||||||||||||
DBI Investors, Inc., Series A-1(3)(25)(26) | 1,932 | $ | 155,197 | |||||||||
$ | 155,197 | |||||||||||
Nonferrous Metals / Minerals — 0.0%(8) | ||||||||||||
Acnr Holdings, Inc.(25)(26) | 1,803 | $ | 27,045 | |||||||||
$ | 27,045 | |||||||||||
Pipelines — 0.0%(8) | ||||||||||||
NuStar Energy, L.P., Series B, 7.625% to 6/15/22(12) | 31,500 | $ | 505,890 | |||||||||
$ | 505,890 |
47 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | ||||||||||
Retailers (Except Food and Drug) — 0.0%(8) | ||||||||||||
David’s Bridal, LLC, Series A, 8.00% | 1,136 | $ | 90,880 | |||||||||
David’s Bridal, LLC, Series B, 10.00% | 4,631 | 374,926 | ||||||||||
$ | 465,806 | |||||||||||
Total Preferred Stocks | $ | 1,868,738 | ||||||||||
Closed-End Funds — 1.5% | ||||||||||||
Security | Shares | Value | ||||||||||
BlackRock Corporate High Yield Fund, Inc. | 2,187,871 | $ | 23,366,462 | |||||||||
Total Closed-End Funds | $ | 23,366,462 | ||||||||||
Warrants — 0.0% | ||||||||||||
Security | Shares | Value | ||||||||||
Retailers (Except Food and Drug) — 0.0% | ||||||||||||
David’s Bridal, LLC, Exp. 11/26/22(3)(25)(26) | 7,886 | $ | 0 | |||||||||
Total Warrants | $ | 0 | ||||||||||
Miscellaneous — 0.0%(8) | ||||||||||||
Security | Shares | Value | ||||||||||
Cable and Satellite Television — 0.0% | ||||||||||||
ACC Claims Holdings, LLC(3)(26) | 2,257,600 | $ | 0 | |||||||||
$ | 0 | |||||||||||
Oil and Gas — 0.0%(8) | ||||||||||||
Paragon Offshore Finance Company, | 2,021 | $ | 606 | |||||||||
Paragon Offshore Finance Company, | 1,011 | 12,385 | ||||||||||
$ | 12,991 | |||||||||||
Total Miscellaneous | $ | 12,991 |
Short-Term Investments — 2.3% |
| |||||||||||
U.S. Treasury Obligations — 0.0%(8) |
| |||||||||||
Security | Principal Amount (000’s omitted) | Value | ||||||||||
U.S. Treasury Bill, 0.00%, 11/19/20(28) | $ | 500 | $ | 499,946 | ||||||||
Total U.S. Treasury Obligations | $ | 499,946 | ||||||||||
Other — 2.3% | ||||||||||||
Description | Units | Value | ||||||||||
Eaton Vance Cash Reserves Fund, LLC, 0.15%(29) | 34,303,854 | $ | 34,303,854 | |||||||||
Total Other |
| $ | 34,303,854 | |||||||||
Total Short-Term Investments |
| $ | 34,803,800 | |||||||||
Total Investments — 154.8% |
| $ | 2,372,103,842 | |||||||||
Less Unfunded Loan Commitments — (0.0)%(8) |
| $ | (745,687 | ) | ||||||||
Net Investments — 154.8% |
| $ | 2,371,358,155 | |||||||||
Other Assets, Less Liabilities — (40.7)% |
| $ | (623,377,816 | ) | ||||||||
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (14.1)% |
| $ | (216,003,009 | ) | ||||||||
Net Assets Applicable to Common Shares — 100.0% |
| $ | 1,531,977,330 |
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) | 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. |
48 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
(2) | 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, 2020, the total value of unfunded loan commitments is $749,135. See Note 1F for description. |
(3) | For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 12). |
(4) | This Senior Loan will settle after September 30, 2020, at which time the interest rate will be determined. |
(5) | The stated interest rate represents the weighted average interest rate at September 30, 2020 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. |
(6) | 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. |
(7) | Fixed-rate loan. |
(8) | Amount is less than 0.05% or (0.05)%, as applicable. |
(9) | 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, 2020, the aggregate value of these securities is $100,443,916 or 6.6% of the Fund’s net assets applicable to common shares. |
(10) | 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, 2020, the aggregate value of these securities is $660,714,631 or 43.1% of the Fund’s net assets applicable to common shares. |
(11) | When-issued security. For a variable rate security, interest rate will be determined after September 30, 2020. |
(12) | Security converts to variable rate after the indicated fixed-rate coupon period. |
(13) | Perpetual security with no stated maturity date but may be subject to calls by the issuer. |
(14) | Variable rate security. The stated interest rate represents the rate in effect at September 30, 2020. |
(15) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
(16) | Step coupon security. Interest rate represents the rate in effect at September 30, 2020. |
(17) | 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. |
(18) | Loan is subject to scheduled mandatory prepayments. Maturity date shown reflects the final maturity date. |
(19) | 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, 2020. |
(20) | Security (or a portion thereof) has been pledged for the benefit of the counterparty for reverse repurchase agreements. |
(21) | Weighted average fixed-rate coupon that changes/updates monthly. Rate shown is the rate at September 30, 2020. |
(22) | 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, 2020. |
(23) | 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. |
(24) | Principal only security that entitles the holder to receive only principal payments on the underlying mortgages. |
(25) | Non-income producing security. |
(26) | Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale. |
(27) | Restricted security (see Note 7). |
(28) | Security (or a portion thereof) has been pledged to cover margin requirements on open derivative contracts. |
(29) | 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, 2020. |
Centrally Cleared Forward Foreign Currency Exchange Contracts | ||||||||||||||||
Currency Purchased | Currency Sold | Settlement Date | Value/Unrealized Appreciation (Depreciation) | |||||||||||||
EUR | 4,641,043 | USD | 5,442,319 | 10/2/20 | $ | (929 | ) | |||||||||
USD | 5,554,019 | EUR | 4,641,043 | 10/2/20 | 112,628 | |||||||||||
USD | 5,445,765 | EUR | 4,641,043 | 11/3/20 | 782 | |||||||||||
$ | 112,481 |
49 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Forward Foreign Currency Exchange Contracts | ||||||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | |||||||||||||||||||
EUR | 401,200 | USD | 470,118 | State Street Bank and Trust Company | 10/1/20 | $ | 269 | $ | — | |||||||||||||||
EUR | 4,641,043 | USD | 5,442,319 | BNP Paribas | 10/2/20 | — | (929 | ) | ||||||||||||||||
EUR | 28,169,930 | USD | 33,033,468 | Standard Chartered Bank | 10/2/20 | — | (5,640 | ) | ||||||||||||||||
USD | 5,442,319 | EUR | 4,641,043 | BNP Paribas | 10/2/20 | 929 | — | |||||||||||||||||
USD | 33,711,689 | EUR | 28,169,930 | Standard Chartered Bank | 10/2/20 | 683,861 | — | |||||||||||||||||
EUR | 84,328 | USD | 99,663 | Bank of America, N.A. | 10/30/20 | — | (735 | ) | ||||||||||||||||
EUR | 883,235 | USD | 1,031,134 | Citibank, N.A. | 10/30/20 | 5,013 | — | |||||||||||||||||
EUR | 94,094 | USD | 110,637 | Citibank, N.A. | 10/30/20 | — | (253 | ) | ||||||||||||||||
EUR | 100,396 | USD | 118,037 | Citibank, N.A. | 10/30/20 | — | (260 | ) | ||||||||||||||||
EUR | 113,036 | USD | 133,805 | JPMorgan Chase Bank, N.A. | 10/30/20 | — | (1,200 | ) | ||||||||||||||||
GBP | 90,948 | USD | 116,336 | Bank of America, N.A. | 10/30/20 | 1,036 | — | |||||||||||||||||
GBP | 332,652 | USD | 434,196 | Bank of America, N.A. | 10/30/20 | — | (4,896 | ) | ||||||||||||||||
GBP | 78,047 | USD | 100,049 | HSBC Bank USA, N.A. | 10/30/20 | 673 | — | |||||||||||||||||
GBP | 111,760 | USD | 141,977 | State Street Bank and Trust Company | 10/30/20 | 2,254 | — | |||||||||||||||||
GBP | 2,754 | USD | 3,499 | State Street Bank and Trust Company | 10/30/20 | 56 | — | |||||||||||||||||
USD | 8,061,851 | EUR | 6,834,197 | Bank of America, N.A. | 10/30/20 | 44,468 | — | |||||||||||||||||
USD | 3,116,909 | EUR | 2,642,268 | Bank of America, N.A. | 10/30/20 | 17,193 | — | |||||||||||||||||
USD | 157,472 | EUR | 135,000 | Bank of America, N.A. | 10/30/20 | — | (900 | ) | ||||||||||||||||
USD | 4,029,453 | EUR | 3,417,099 | Citibank, N.A. | 10/30/20 | 20,762 | — | |||||||||||||||||
USD | 1,557,885 | EUR | 1,321,134 | Citibank, N.A. | 10/30/20 | 8,027 | — | |||||||||||||||||
USD | 4,510,535 | EUR | 3,824,905 | Goldman Sachs International | 10/30/20 | 23,434 | — | |||||||||||||||||
USD | 1,743,883 | EUR | 1,478,802 | Goldman Sachs International | 10/30/20 | 9,060 | — | |||||||||||||||||
USD | 27,442,412 | EUR | 23,509,325 | Goldman Sachs International | 10/30/20 | — | (137,018 | ) | ||||||||||||||||
USD | 8,059,269 | EUR | 6,834,197 | State Street Bank and Trust Company | 10/30/20 | 41,886 | — | |||||||||||||||||
USD | 1,780,751 | EUR | 1,500,000 | State Street Bank and Trust Company | 10/30/20 | 21,060 | — | |||||||||||||||||
USD | 3,115,911 | EUR | 2,642,268 | State Street Bank and Trust Company | 10/30/20 | 16,194 | — | |||||||||||||||||
USD | 1,180,250 | EUR | 1,000,000 | State Street Bank and Trust Company | 10/30/20 | 7,123 | — | |||||||||||||||||
USD | 870,495 | EUR | 737,317 | State Street Bank and Trust Company | 10/30/20 | 5,528 | — | |||||||||||||||||
USD | 433,225 | EUR | 365,004 | State Street Bank and Trust Company | 10/30/20 | 5,029 | — | |||||||||||||||||
USD | 473,741 | EUR | 400,000 | State Street Bank and Trust Company | 10/30/20 | 4,490 | — | |||||||||||||||||
USD | 355,769 | EUR | 300,000 | State Street Bank and Trust Company | 10/30/20 | 3,830 | — | |||||||||||||||||
USD | 112,853 | EUR | 95,054 | State Street Bank and Trust Company | 10/30/20 | 1,343 | — | |||||||||||||||||
USD | 118,587 | EUR | 100,000 | State Street Bank and Trust Company | 10/30/20 | 1,275 | — | |||||||||||||||||
USD | 116,789 | EUR | 98,871 | State Street Bank and Trust Company | 10/30/20 | 801 | — | |||||||||||||||||
USD | 63,329 | EUR | 53,640 | State Street Bank and Trust Company | 10/30/20 | 403 | — | |||||||||||||||||
USD | 117,327 | EUR | 100,000 | State Street Bank and Trust Company | 10/30/20 | 14 | — | |||||||||||||||||
USD | 470,166 | EUR | 401,003 | State Street Bank and Trust Company | 10/30/20 | — | (261 | ) | ||||||||||||||||
USD | 1,896,445 | EUR | 1,623,780 | State Street Bank and Trust Company | 10/30/20 | — | (8,456 | ) | ||||||||||||||||
USD | 2,080,001 | EUR | 1,780,945 | State Street Bank and Trust Company | 10/30/20 | — | (9,274 | ) | ||||||||||||||||
USD | 3,283,138 | GBP | 2,530,000 | Bank of America, N.A. | 10/30/20 | 18,077 | — | |||||||||||||||||
USD | 189,462 | GBP | 146,000 | Bank of America, N.A. | 10/30/20 | 1,043 | — | |||||||||||||||||
USD | 3,188,635 | GBP | 2,456,982 | Citibank, N.A. | 10/30/20 | 17,806 | — | |||||||||||||||||
USD | 183,786 | GBP | 141,615 | Citibank, N.A. | 10/30/20 | 1,026 | — | |||||||||||||||||
USD | 33,054,616 | EUR | 28,169,930 | Standard Chartered Bank | 11/3/20 | 4,976 | — | |||||||||||||||||
EUR | 211,179 | USD | 250,801 | State Street Bank and Trust Company | 11/30/20 | — | (2,902 | ) |
50 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
Forward Foreign Currency Exchange Contracts (continued) | ||||||||||||||||||||||||
Currency Purchased | Currency Sold | Counterparty | Settlement Date | Unrealized Appreciation | Unrealized (Depreciation) | |||||||||||||||||||
USD | 32,446,144 | EUR | 27,424,661 | HSBC Bank USA, N.A. | 11/30/20 | $ | 252,853 | $ | — | |||||||||||||||
USD | 1,812,147 | EUR | 1,530,250 | State Street Bank and Trust Company | 11/30/20 | 15,815 | — | |||||||||||||||||
USD | 3,869,894 | GBP | 2,930,197 | State Street Bank and Trust Company | 11/30/20 | 87,836 | — | |||||||||||||||||
$ | 1,325,443 | $ | (172,724 | ) |
Futures Contracts | ||||||||||||||||||||
Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) | |||||||||||||||
Interest Rate Futures | ||||||||||||||||||||
U.S. 10-Year Treasury Note | 176 | Long | 12/21/20 | $ | 24,557,500 | $ | 64,203 | |||||||||||||
5-Year USD Deliverable Interest Rate Swap | (4 | ) | Short | 12/14/20 | (412,594 | ) | 156 | |||||||||||||
10-Year USD Deliverable Interest Rate Swap | (4 | ) | Short | 12/14/20 | (410,063 | ) | 938 | |||||||||||||
Euro-Bobl | (11 | ) | Short | 12/8/20 | (1,743,280 | ) | (950 | ) | ||||||||||||
Euro-Bund | (3 | ) | Short | 12/8/20 | (613,848 | ) | (1,161 | ) | ||||||||||||
Euro-Buxl | (2 | ) | Short | 12/8/20 | (522,162 | ) | (6,331 | ) | ||||||||||||
U.S. 5-Year Treasury Note | (2 | ) | Short | 12/31/20 | (252,062 | ) | 141 | |||||||||||||
U.S. Long Treasury Bond | (10 | ) | Short | 12/21/20 | (1,762,813 | ) | (8,752 | ) | ||||||||||||
$ | 48,244 |
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 | 950 | Receives | 6-month EURIBOR (pays semi-annually) | (0.53)% (pays annually) | 8/22/24 | $ | 3,290 | $ | — | $ | 3,290 | |||||||||||||||
EUR | 246 | Receives | 6-month EURIBOR (pays semi-annually) | 0.37% (pays annually) | 2/12/50 | (33,774 | ) | — | (33,774 | ) | ||||||||||||||||
EUR | 207 | Receives | 6-month EURIBOR (pays semi-annually) | 0.38% (pays annually) | 2/13/50 | (28,912 | ) | 3 | (28,909 | ) | ||||||||||||||||
EUR | 242 | Receives | 6-month EURIBOR (pays semi-annually) | 0.39% (pays annually) | 2/13/50 | (34,426 | ) | — | (34,426 | ) | ||||||||||||||||
EUR | 1,500 | Receives | 6-month EURIBOR (pays semi-annually) | 0.26% (pays annually) | 2/25/50 | (146,044 | ) | — | (146,044 | ) | ||||||||||||||||
EUR | 260 | Receives | 6-month EURIBOR (pays semi-annually) | 0.21% (pays annually) | 2/26/50 | (20,497 | ) | (2 | ) | (20,499 | ) | |||||||||||||||
EUR | 681 | Receives | 6-month EURIBOR (pays semi-annually) | 0.12% (pays annually) | 6/8/50 | (32,695 | ) | — | (32,695 | ) | ||||||||||||||||
USD | 760 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.93% (pays semi-annually) | 11/3/20 | (6,834 | ) | — | (6,834 | ) | ||||||||||||||||
USD | 100 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.96% (pays semi-annually) | 11/17/20 | (906 | ) | (12 | ) | (918 | ) |
51 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
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 | 2,680 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.55% (pays semi-annually) | 3/12/23 | $ | (21,139 | ) | $ | — | $ | (21,139 | ) | |||||||||||||
USD | 200 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.49% (pays semi-annually) | 1/28/25 | (10,644 | ) | — | (10,644 | ) | ||||||||||||||||
USD | 461 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.46% (pays semi-annually) | 1/30/25 | (23,963 | ) | — | (23,963 | ) | ||||||||||||||||
USD | 800 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.41% (pays semi-annually) | 2/3/25 | (39,749 | ) | — | (39,749 | ) | ||||||||||||||||
USD | 260 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.44% (pays semi-annually) | 2/18/25 | (13,162 | ) | — | (13,162 | ) | ||||||||||||||||
USD | 200 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.16% (pays semi-annually) | 2/28/25 | (7,674 | ) | — | (7,674 | ) | ||||||||||||||||
USD | 120 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.83% (pays semi-annually) | 3/5/25 | (2,801 | ) | — | (2,801 | ) | ||||||||||||||||
USD | 850 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.43% (pays semi-annually) | 4/30/25 | (5,353 | ) | — | (5,353 | ) | ||||||||||||||||
USD | 562 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.33% (pays semi-annually) | 5/12/25 | (890 | ) | — | (890 | ) | ||||||||||||||||
USD | 150 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.34% (pays semi-annually) | 5/15/25 | (281 | ) | — | (281 | ) | ||||||||||||||||
USD | 140 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.34% (pays semi-annually) | 5/19/25 | (221 | ) | — | (221 | ) | ||||||||||||||||
USD | 452 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.39% (pays semi-annually) | 6/19/25 | (1,845 | ) | — | (1,845 | ) | ||||||||||||||||
USD | 2,240 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.74% (pays semi-annually) | 12/16/26 | (191,269 | ) | — | (191,269 | ) | ||||||||||||||||
USD | 1,700 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.57% (pays semi-annually) | 4/17/27 | (15,648 | ) | — | (15,648 | ) | ||||||||||||||||
USD | 5,222 | Receives | 3-month USD-LIBOR (pays quarterly) | 2.09% (pays semi-annually) | 7/15/29 | (675,256 | ) | 1,558 | (673,698 | ) | ||||||||||||||||
USD | 800 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.76% (pays semi-annually) | 12/12/29 | (83,882 | ) | — | (83,882 | ) | ||||||||||||||||
USD | 570 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.80% (pays semi-annually) | 4/15/30 | (8,249 | ) | — | (8,249 | ) | ||||||||||||||||
USD | 511 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.60% (pays semi-annually) | 5/12/30 | 2,755 | — | 2,755 | ||||||||||||||||||
USD | 163 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.67% (pays semi-annually) | 5/26/30 | (75 | ) | — | (75 | ) | ||||||||||||||||
USD | 173 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.69% (pays semi-annually) | 6/1/30 | (506 | ) | — | (506 | ) | ||||||||||||||||
USD | 1,850 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.66% (pays semi-annually) | 6/2/30 | 1,067 | — | 1,067 | ||||||||||||||||||
USD | 511 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.80% (pays semi-annually) | 6/11/30 | (6,364 | ) | — | (6,364 | ) | ||||||||||||||||
USD | 68 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.77% (pays semi-annually) | 6/12/30 | (703 | ) | — | (703 | ) | ||||||||||||||||
USD | 375 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.69% (pays semi-annually) | 6/16/30 | (857 | ) | — | (857 | ) |
52 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
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 | 313 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.74% (pays semi-annually) | 6/18/30 | $ | (2,135 | ) | $ | — | $ | (2,135 | ) | |||||||||||||
USD | 634 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.72% (pays semi-annually) | 6/19/30 | (3,427 | ) | — | (3,427 | ) | ||||||||||||||||
USD | 43 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.67% (pays semi-annually) | 6/26/30 | 2 | — | 2 | ||||||||||||||||||
USD | 1,280 | Receives | 3-month USD-LIBOR (pays quarterly) | 2.88% (pays semi-annually) | 1/31/49 | (563,399 | ) | (636 | ) | (564,035 | ) | |||||||||||||||
USD | 128 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.71% (pays semi-annually) | 8/27/49 | (19,392 | ) | — | (19,392 | ) | ||||||||||||||||
USD | 148 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.70% (pays semi-annually) | 8/27/49 | (22,011 | ) | — | (22,011 | ) | ||||||||||||||||
USD | 160 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.65% (pays semi-annually) | 8/28/49 | (21,553 | ) | — | (21,553 | ) | ||||||||||||||||
USD | 85 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.54% (pays semi-annually) | 8/30/49 | (9,106 | ) | — | (9,106 | ) | ||||||||||||||||
USD | 88 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.70% (pays semi-annually) | 9/12/49 | (12,943 | ) | — | (12,943 | ) | ||||||||||||||||
USD | 1,400 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.87% (pays semi-annually) | 10/25/49 | (277,304 | ) | — | (277,304 | ) | ||||||||||||||||
USD | 92 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.82% (pays semi-annually) | 12/6/49 | (16,361 | ) | — | (16,361 | ) | ||||||||||||||||
USD | 91 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.81% (pays semi-annually) | 12/6/49 | (16,049 | ) | — | (16,049 | ) | ||||||||||||||||
USD | 19 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.94% (pays semi-annually) | 1/9/50 | (4,080 | ) | — | (4,080 | ) | ||||||||||||||||
USD | 210 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.79% (pays semi-annually) | 4/23/50 | 16,824 | — | 16,824 | ||||||||||||||||||
USD | 1,650 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.96% (pays semi-annually) | 6/2/50 | 61,579 | — | 61,579 | ||||||||||||||||||
USD | 383 | Receives | 3-month USD-LIBOR (pays quarterly) | 1.10% (pays semi-annually) | 6/11/50 | 302 | — | 302 | ||||||||||||||||||
USD | 347 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.93% (pays semi-annually) | 6/15/50 | 15,793 | — | 15,793 | ||||||||||||||||||
USD | 316 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.93% (pays semi-annually) | 6/15/50 | 14,752 | — | 14,752 | ||||||||||||||||||
USD | 121 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.97% (pays semi-annually) | 6/16/50 | 4,262 | — | 4,262 | ||||||||||||||||||
USD | 280 | Receives | 3-month USD-LIBOR (pays quarterly) | 0.97% (pays semi-annually) | 6/17/50 | 9,694 | — | 9,694 | ||||||||||||||||||
Total | $ | (2,252,059 | ) | $ | 911 | $ | (2,251,148 | ) |
53 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Portfolio of Investments (Unaudited) — continued
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) | |||||||||||||||||||||
Brazil | $ | 950 | 1.00% (pays quarterly)(1) | 12/20/25 | 2.43 | % | $ | (66,944 | ) | $ | 53,020 | $ | (13,924 | ) | ||||||||||||||
Colombia | 3,725 | 1.00% (pays quarterly)(1) | 12/20/25 | 1.48 | (90,556 | ) | 60,446 | (30,110 | ) | |||||||||||||||||||
Indonesia | 3,750 | 1.00% (pays quarterly)(1) | 12/20/25 | 1.14 | (26,735 | ) | — | (26,735 | ) | |||||||||||||||||||
Philippines | 3,100 | 1.00% (pays quarterly)(1) | 12/20/25 | 0.55 | 73,463 | (78,697 | ) | (5,234 | ) | |||||||||||||||||||
South Africa | 1,840 | 1.00% (pays quarterly)(1) | 6/20/21 | 1.27 | (3,083 | ) | 15,851 | 12,768 | ||||||||||||||||||||
Turkey | 3,196 | 1.00% (pays quarterly)(1) | 6/20/21 | 3.89 | (65,267 | ) | 110,177 | 44,910 | ||||||||||||||||||||
Turkey | 2,400 | 1.00% (pays quarterly)(1) | 6/20/25 | 5.25 | (416,559 | ) | 405,534 | (11,025 | ) | |||||||||||||||||||
Total | $ | 18,961 | $ | (595,681 | ) | $ | 566,331 | $ | (29,350 | ) |
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 | 7.06 | % | $ | (111,399 | ) | $ | 35,509 | $ | (75,890 | ) | |||||||||||||
Brazil | Citibank, N.A. | 2,450 | 1.00% (pays quarterly)(1) | 12/20/30 | 3.12 | (443,931 | ) | 377,995 | (65,936 | ) | ||||||||||||||||||
Mexico | Citibank, N.A. | 2,640 | 1.00% (pays quarterly)(1) | 12/20/30 | 2.11 | (266,197 | ) | 220,566 | (45,631 | ) | ||||||||||||||||||
Mexico | | Goldman Sachs International | | 2,385 | 1.00% (pays quarterly)(1) | 12/20/30 | 2.11 | (240,485 | ) | 187,263 | (53,222 | ) | ||||||||||||||||
Total | $ | 8,625 | $ | (1,062,012 | ) | $ | 821,333 | $ | (240,679 | ) |
* | 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, 2020, such maximum potential amount for all open credit default swaps in which the Fund is the seller was $27,586,000. |
** | 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. |
54 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
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 |
Currency Abbreviations:
EUR | – | Euro | ||
GBP | – | British Pound Sterling | ||
USD | – | United States Dollar |
55 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Statement of Assets and Liabilities (Unaudited)
Assets | September 30, 2020 | |||
Unaffiliated investments, at value (identified cost, $2,410,333,499) | $ | 2,337,054,301 | ||
Affiliated investment, at value (identified cost, $34,303,791) | 34,303,854 | |||
Cash | 6,498,809 | |||
Deposits for derivatives collateral — | ||||
Financial futures contracts | 272,734 | |||
Centrally cleared derivatives | 6,746,482 | |||
OTC derivatives | 1,272,500 | |||
Deposits for reverse repurchase agreements | 2,762,942 | |||
Foreign currency, at value (identified cost, $1,031,498) | 1,070,811 | |||
Interest and dividends receivable | 18,961,284 | |||
Dividends receivable from affiliated investment | 4,399 | |||
Receivable for investments sold | 6,567,544 | |||
Receivable for variation margin on open centrally cleared derivatives | 246,123 | |||
Receivable for open forward foreign currency exchange contracts | 1,325,443 | |||
Tax reclaims receivable | 7,056 | |||
Prepaid upfront fees on notes payable | 633,915 | |||
Prepaid expenses | 38,657 | |||
Total assets | $ | 2,417,766,854 | ||
Liabilities | ||||
Notes payable | $ | 550,000,000 | ||
Cash collateral due to brokers | 970,000 | |||
Payable for reverse repurchase agreements, including accrued interest of $2,310 | 53,046,548 | |||
Payable for investments purchased | 54,088,608 | |||
Payable for when-issued securities | 7,462,620 | |||
Payable for variation margin on open financial futures contracts | 27,336 | |||
Payable for open forward foreign currency exchange contracts | 172,724 | |||
Payable for open swap contracts | 240,679 | |||
Upfront receipts on open non-centrally cleared swap contracts | 821,333 | |||
Payable to affiliate: | ||||
Investment adviser fee | 1,462,690 | |||
Accrued expenses | 1,493,977 | |||
Total liabilities | $ | 669,786,515 | ||
Auction preferred shares (8,640 shares outstanding) at liquidation value plus cumulative unpaid dividends | $ | 216,003,009 | ||
Net assets applicable to common shares | $ | 1,531,977,330 | ||
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 | 1,790,375,350 | |||
Accumulated loss | (259,559,490 | ) | ||
Net assets applicable to common shares | $ | 1,531,977,330 | ||
Net Asset Value Per Common Share | ||||
($1,531,977,330 ÷ 116,147,018 common shares issued and outstanding) | $ | 13.19 |
56 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Statement of Operations (Unaudited)
Investment Income | Six Months Ended September 30, 2020 | |||
Interest and other income (net of foreign taxes, $101) | $ | 51,898,337 | ||
Dividends | 1,069,816 | |||
Dividends from affiliated investment | 48,198 | |||
Total investment income | $ | 53,016,351 | ||
Expenses | ||||
Investment adviser fee | $ | 8,641,426 | ||
Trustees’ fees and expenses | 54,250 | |||
Custodian fee | 274,544 | |||
Transfer and dividend disbursing agent fees | 9,320 | |||
Legal and accounting services | 424,992 | |||
Printing and postage | 98,040 | |||
Interest expense and fees | 4,450,449 | |||
Preferred shares service fee | 113,612 | |||
Miscellaneous | 92,704 | |||
Total expenses | $ | 14,159,337 | ||
Net investment income | $ | 38,857,014 | ||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) — | ||||
Investment transactions | $ | (19,503,756 | ) | |
Investment transactions — affiliated investment | 14,228 | |||
Financial futures contracts | 4,962,647 | |||
Swap contracts | (1,201,215 | ) | ||
Foreign currency transactions | 211,503 | |||
Forward foreign currency exchange contracts | (9,017,423 | ) | ||
Net realized loss | $ | (24,534,016 | ) | |
Change in unrealized appreciation (depreciation) — | ||||
Investments | $ | 225,114,753 | ||
Investments — affiliated investment | (342 | ) | ||
Financial futures contracts | (4,692,540 | ) | ||
Swap contracts | 1,812,452 | |||
Foreign currency | (271,199 | ) | ||
Forward foreign currency exchange contracts | 891,809 | |||
Net change in unrealized appreciation (depreciation) | $ | 222,854,933 | ||
Net realized and unrealized gain | $ | 198,320,917 | ||
Distributions to preferred shareholders | $ | (709,329 | ) | |
Net increase in net assets from operations | $ | 236,468,602 |
57 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Statements of Changes in Net Assets
Increase (Decrease) in Net Assets | Six Months Ended September 30, 2020 (Unaudited) | Year Ended March 31, 2020 | ||||||
From operations — | ||||||||
Net investment income | $ | 38,857,014 | $ | 88,499,011 | ||||
Net realized loss | (24,534,016 | ) | (21,565,589 | ) | ||||
Net change in unrealized appreciation (depreciation) | 222,854,933 | (255,637,607 | ) | |||||
Distributions to preferred shareholders | (709,329 | ) | (6,436,406 | ) | ||||
Net increase (decrease) in net assets from operations | $ | 236,468,602 | $ | (195,140,591 | ) | |||
Distributions to common shareholders | $ | (69,688,211 | ) | $ | (97,429,716 | ) | ||
Tax return of capital to common shareholders | $ | — | $ | (20,691,801 | ) | |||
Net increase (decrease) in net assets | $ | 166,780,391 | $ | (313,262,108 | ) | |||
Net Assets Applicable to Common Shares | ||||||||
At beginning of period | $ | 1,365,196,939 | $ | 1,678,459,047 | ||||
At end of period | $ | 1,531,977,330 | $ | 1,365,196,939 |
58 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Statement of Cash Flows (Unaudited)
Cash Flows From Operating Activities | Six Months Ended September 30, 2020 | |||
Net increase in net assets from operations | $ | 236,468,602 | ||
Distributions to preferred shareholders | 709,329 | |||
Net increase in net assets from operations excluding distributions to preferred shareholders | $ | 237,177,931 | ||
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities: | ||||
Investments purchased | (541,221,547 | ) | ||
Investments sold and principal repayments | 555,247,218 | |||
Increase in short-term investments, net | (9,628,392 | ) | ||
Net amortization/accretion of premium (discount) | 11,829,807 | |||
Amortization of prepaid upfront fees on notes payable | 261,082 | |||
Decrease in interest and dividends receivable | 2,129,061 | |||
Decrease in dividends receivable from affiliated investment | 31,528 | |||
Decrease in receivable for variation margin on open centrally cleared derivatives | 313,240 | |||
Increase in receivable for open forward foreign currency exchange contracts | (267,683 | ) | ||
Increase in tax reclaims receivable | (1,665 | ) | ||
Decrease in prepaid expenses | 14,557 | |||
Increase in cash collateral due to brokers | 640,000 | |||
Decrease in payable for variation margin on open financial futures contracts | (645,267 | ) | ||
Decrease in payable for open forward foreign currency exchange contracts | (367,681 | ) | ||
Increase in payable for open swap contracts | 229,021 | |||
Increase in upfront receipts on open non-centrally cleared swap contracts | 775,461 | |||
Decrease in payable to affiliate for investment adviser fee | (92,564 | ) | ||
Decrease in accrued expenses | (1,090,848 | ) | ||
Decrease in accrued interest on reverse repurchase agreements | (21,095 | ) | ||
Increase in unfunded loan commitments | 440,619 | |||
Net change in unrealized (appreciation) depreciation from investments | (225,114,411 | ) | ||
Net realized loss from investments | 19,489,528 | |||
Net cash provided by operating activities | $ | 50,127,900 | ||
Cash Flows From Financing Activities | ||||
Cash distributions paid to common shareholders | $ | (69,688,211 | ) | |
Cash distributions paid to preferred shareholders | (778,222 | ) | ||
Proceeds from notes payable | 135,000,000 | |||
Repayments of notes payable | (110,000,000 | ) | ||
Repayments of reverse repurchase agreements, net | (13,435,918 | ) | ||
Net cash used in financing activities | $ | (58,902,351 | ) | |
Net decrease in cash and restricted cash* | $ | (8,774,451 | ) | |
Cash and restricted cash at beginning of period (including foreign currency) | $ | 27,398,729 | ||
Cash and restricted cash at end of period (including foreign currency) | $ | 18,624,278 | ||
Supplemental disclosure of cash flow information: | ||||
Cash paid for interest and fees on borrowings and reverse repurchase agreements | $ | 4,776,808 |
* | Includes net change in unrealized appreciation (depreciation) on foreign currency of $157. |
59 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
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, 2020 | ||||
Cash | $ | 6,498,809 | ||
Deposits for derivatives collateral — | ||||
Financial futures contracts | 272,734 | |||
Centrally cleared derivatives | 6,746,482 | |||
OTC derivatives | 1,272,500 | |||
Deposits for reverse repurchase agreements | 2,762,942 | |||
Foreign currency | 1,070,811 | |||
Total cash and restricted cash as shown on the Statement of Cash Flows | $ | 18,624,278 |
60 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Financial Highlights
Selected data for a common share outstanding during the periods stated
Six Months Ended September 30, 2020 (Unaudited) | Year Ended March 31, | |||||||||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||
Net asset value — Beginning of period (Common shares) | $ | 11.750 | $ | 14.450 | $ | 14.740 | $ | 15.110 | $ | 14.510 | $ | 16.010 | ||||||||||||
Income (Loss) From Operations | ||||||||||||||||||||||||
Net investment income(1) | $ | 0.335 | $ | 0.762 | $ | 0.826 | $ | 0.808 | $ | 0.899 | $ | 0.979 | ||||||||||||
Net realized and unrealized gain (loss) | 1.711 | (2.390 | ) | (0.267 | ) | (0.168 | ) | 0.834 | (1.278 | ) | ||||||||||||||
Distributions to preferred shareholders — | ||||||||||||||||||||||||
From net investment income(1) | (0.006 | ) | (0.055 | ) | (0.066 | ) | (0.043 | ) | (0.018 | ) | (0.007 | ) | ||||||||||||
Discount on redemption and repurchase of auction preferred shares(1) | — | — | 0.035 | — | — | — | ||||||||||||||||||
Total income (loss) from operations | $ | 2.040 | $ | (1.683 | ) | $ | 0.528 | $ | 0.597 | $ | 1.715 | $ | (0.306 | ) | ||||||||||
Less Distributions to Common Shareholders | ||||||||||||||||||||||||
From net investment income | $ | (0.600 | ) | $ | (0.839 | ) | $ | (0.818 | ) | $ | (0.818 | ) | $ | (0.991 | ) | $ | (1.114 | ) | ||||||
Tax return of capital | — | (0.178 | ) | — | (0.149 | ) | (0.124 | ) | (0.106 | ) | ||||||||||||||
Total distributions to common shareholders | $ | (0.600 | ) | $ | (1.017 | ) | $ | (0.818 | ) | $ | (0.967 | ) | $ | (1.115 | ) | $ | (1.220 | ) | ||||||
Anti-dilutive effect of share repurchase program (see Note 6)(1) | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.026 | ||||||||||||
Net asset value — End of period (Common shares) | $ | 13.190 | $ | 11.750 | $ | 14.450 | $ | 14.740 | $ | 15.110 | $ | 14.510 | ||||||||||||
Market value — End of period (Common shares) | $ | 11.310 | $ | 10.570 | $ | 12.650 | $ | 13.020 | $ | 13.830 | $ | 13.180 | ||||||||||||
Total Investment Return on Net Asset Value(2) | 18.28 | %(3) | (11.69 | )% | 4.57 | %(4) | 4.72 | % | 12.99 | % | (0.62 | )% | ||||||||||||
Total Investment Return on Market Value(2) | 12.84 | %(3) | (9.33 | )% | 3.70 | % | 0.99 | % | 13.85 | % | 0.44 | % |
61 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Financial Highlights — continued
Selected data for a common share outstanding during the periods stated
Six Months Ended September 30, 2020 (Unaudited) | Year Ended March 31, | |||||||||||||||||||||||
Ratios/Supplemental Data | 2020 | 2019 | 2018 | 2017 | 2016 | |||||||||||||||||||
Net assets applicable to common shares, end of period (000’s omitted) | $ | 1,531,977 | $ | 1,365,197 | $ | 1,678,459 | $ | 1,712,583 | $ | 1,755,135 | $ | 1,685,016 | ||||||||||||
Ratios (as a percentage of average daily net assets applicable to common shares):(5)† | ||||||||||||||||||||||||
Expenses excluding interest and fees(6) | 1.30 | %(7) | 1.29 | % | 1.31 | % | 1.30 | % | 1.32 | % | 1.37 | % | ||||||||||||
Interest and fee expense(8) | 0.60 | %(7) | 1.33 | % | 1.43 | % | 1.00 | % | 0.73 | % | 0.63 | % | ||||||||||||
Total expenses(6) | 1.90 | %(7) | 2.62 | % | 2.74 | % | 2.30 | % | 2.05 | % | 2.00 | % | ||||||||||||
Net investment income | 5.20 | %(7) | 5.33 | % | 5.71 | % | 5.36 | % | 6.01 | % | 6.49 | % | ||||||||||||
Portfolio Turnover | 25 | %(3) | 49 | % | 34 | % | 43 | % | 45 | % | 33 | % | ||||||||||||
Senior Securities: | ||||||||||||||||||||||||
Total notes payable outstanding (in 000’s) | $ | 550,000 | $ | 525,000 | $ | 595,000 | $ | 663,000 | $ | 585,000 | $ | 660,000 | ||||||||||||
Asset coverage per $1,000 of notes payable(9) | $ | 4,178 | $ | 4,012 | $ | 4,184 | $ | 3,985 | $ | 4,456 | $ | 3,957 | ||||||||||||
Total preferred shares outstanding | 8,640 | 8,640 | 8,640 | 10,665 | 10,665 | 10,665 | ||||||||||||||||||
Asset coverage per preferred share(10) | $ | 74,999 | $ | 71,062 | $ | 76,744 | $ | 71,059 | $ | 76,524 | $ | 70,461 | ||||||||||||
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. |
(3) | Not annualized. |
(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. |
(6) | Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian. |
(7) | Annualized. |
(8) | 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), and the reverse repurchase agreements (see Note 10). |
(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 300%, 284%, 307%, 284%, 306% and 282% at September 30, 2020 and March 31, 2020, 2019, 2018, 2017 and 2016, 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 and exclude the effect of custody fee credits, if any. Ratios for periods less than one year are annualized. |
Six Months Ended September 30, 2020 (Unaudited) | Year Ended March 31, | |||||||||||||||||||||||
2020 | 2019 | 2018 | 2017 | 2016 | ||||||||||||||||||||
Expenses excluding interest and fees | 0.86 | % | 0.86 | % | 0.87 | % | 0.87 | % | 0.87 | % | 0.88 | % | ||||||||||||
Interest and fee expense | 0.40 | % | 0.89 | % | 0.95 | % | 0.67 | % | 0.49 | % | 0.40 | % | ||||||||||||
Total expenses | 1.26 | % | 1.75 | % | 1.82 | % | 1.54 | % | 1.36 | % | 1.28 | % | ||||||||||||
Net investment income | 3.45 | % | 3.57 | % | 3.79 | % | 3.58 | % | 3.99 | % | 4.15 | % |
62 | See Notes to Financial Statements. |
Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
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 Global or Global Select Market 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.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
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, 2020, 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, 2020, 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.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
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 12. 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 Reverse Repurchase Agreements — Under a reverse repurchase agreement, the Fund temporarily transfers possession of a portfolio security to another party, such as a bank or broker/dealer, in return for cash. At the same time, the Fund agrees to repurchase the security at an agreed upon time and price, which reflects an interest payment. In periods of increased demand for a security, the Fund may receive a payment from the counterparty for the use of the security, which is recorded as interest income. Because the Fund retains effective control over the transferred security, the transaction is accounted for as a secured borrowing. The Fund may enter into such agreements when it believes it is able to invest the cash acquired at a rate higher than the cost of the agreement, which would increase earned income. When the Fund enters into a reverse repurchase agreement, any fluctuations in the market value of either the securities transferred to another party or the securities in which the proceeds may be invested would affect the market value of the Fund’s assets. Because reverse repurchase agreements may be considered to be the practical equivalent of borrowing funds (and the counterparty making a loan), they constitute a form of leverage. The Fund segregates cash or liquid assets equal to its obligation to repurchase the security. During the term of the agreement, the Fund may also be obligated to pledge additional cash and/or securities in the event of a decline in the fair value of the transferred security. In the event the counterparty to a reverse repurchase agreement becomes insolvent, recovery of the security transferred by the Fund may be delayed or the Fund may incur a loss equal to the amount by which the value of the security transferred by the Fund exceeds the repurchase price payable by the Fund.
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Table of Contents
Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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 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 When-Issued Securities and Delayed Delivery Transactions — The Fund may purchase or sell securities on a delayed delivery or when-issued basis. 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 or when-issued basis are marked-to-market daily and begin earning interest on settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.
P Interim Financial Statements — The interim financial statements relating to September 30, 2020 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, 2020 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%.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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, 2020, 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, 2020 | Dividends Accrued to APS Shareholders | Average APS Dividend Rates | Dividend Rate Ranges (%) | |||||||||||||
Series A | 0.14 | % | $ | 138,865 | 0.64 | % | 0.06-3.32 | |||||||||
Series B | 0.12 | 142,865 | 0.66 | 0.06-3.32 | ||||||||||||
Series C | 0.14 | 144,752 | 0.67 | 0.06-3.46 | ||||||||||||
Series D | 0.12 | 146,320 | 0.68 | 0.09-3.32 | ||||||||||||
Series E | 0.15 | 136,527 | 0.63 | 0.09-3.32 |
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, 2020.
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, 2020, the amount of distributions estimated to be a tax return of capital was approximately $22,788,000. 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, 2020, the Fund, for federal income tax purposes, had deferred capital losses of $116,241,745 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, 2020, $15,423,802 are short-term and $100,817,943 are long-term.
The cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the Fund at September 30, 2020, as determined on a federal income tax basis, were as follows:
Aggregate cost | $ | 2,458,921,418 | ||
Gross unrealized appreciation | $ | 50,757,500 | ||
Gross unrealized depreciation | (139,528,496 | ) | ||
Net unrealized depreciation | $ | (88,770,996 | ) |
4 Investment Adviser Fee and Other Transactions with Affiliates
The investment adviser fee is earned by EVM, a wholly-owned subsidiary of Eaton Vance Corp., as compensation for management and 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 as referred to herein represent net assets plus obligations attributable to investment leverage. For the six months ended September 30, 2020, the Fund’s investment adviser fee amounted to $8,641,426. The Fund invests 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.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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, 2020, 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 and principal repayments on Senior Loans, for the six months ended September 30, 2020 were as follows:
Purchases | Sales | |||||||
Investments (non-U.S. Government) | $ | 358,506,412 | $ | 341,811,792 | ||||
U.S. Government and Agency Securities | 212,022,457 | 214,385,963 | ||||||
$ | 570,528,869 | $ | 556,197,755 |
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, 2020 and the year ended March 31, 2020.
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, 2020 and the year ended March 31, 2020.
7 Restricted Securities
At September 30, 2020, the Fund owned the following securities 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 | $ | 1,370,397 | $ | 0 | ||||||||||
Convertible Preferred Stocks | ||||||||||||||||
Nine Point Energy Holdings, Inc., Series A, 12.00% | 5/26/17 | 555 | 555,000 | 0 | ||||||||||||
Total Restricted Securities | $ | 1,925,397 | $ | 0 |
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, 2020 is included in the Portfolio of Investments. At September 30, 2020, the Fund had sufficient cash and/or securities to cover commitments under these contracts.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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, 2020, the fair value of derivatives with credit-related contingent features in a net liability position was $1,234,736. The aggregate fair value of assets pledged as collateral by the Fund for such liability was $802,446 at September 30, 2020.
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 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, 2020 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 12) at September 30, 2020.
The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at September 30, 2020 was as follows:
Fair Value | ||||||||||||||||
Statement of Assets and Liabilities Caption | Credit | Foreign Exchange | Interest Rate | Total | ||||||||||||
Accumulated loss | $ | 73,463 | * | $ | 113,410 | * | $ | 195,758 | * | $ | 382,631 | |||||
Receivable for open forward foreign currency exchange contracts | — | 1,325,443 | — | 1,325,443 | ||||||||||||
Total Asset Derivatives | $ | 73,463 | $ | 1,438,853 | $ | 195,758 | $ | 1,708,074 | ||||||||
Derivatives not subject to master netting or similar agreements | $ | 73,463 | $ | 113,410 | $ | 195,758 | $ | 382,631 | ||||||||
Total Asset Derivatives subject to master netting or similar agreements | $ | — | $ | 1,325,443 | $ | — | $ | 1,325,443 |
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
Credit | Foreign Exchange | Interest Rate | Total | |||||||||||||
Accumulated loss | $ | (669,144 | )* | $ | (929 | )* | $ | (2,399,573 | )* | $ | (3,069,646 | ) | ||||
Payable for open forward foreign currency exchange contracts | — | (172,724 | ) | — | (172,724 | ) | ||||||||||
Payable/receivable for open swap contracts; Upfront receipts on open non-centrally cleared swap contracts | (1,062,012 | ) | — | — | (1,062,012 | ) | ||||||||||
Total Liability Derivatives | $ | (1,731,156 | ) | $ | (173,653 | ) | $ | (2,399,573 | ) | $ | (4,304,382 | ) | ||||
Derivatives not subject to master netting or similar agreements | $ | (669,144 | ) | $ | (929 | ) | $ | (2,399,573 | ) | $ | (3,069,646 | ) | ||||
Total Liability Derivatives subject to master netting or similar agreements | $ | (1,062,012 | ) | $ | (172,724 | ) | $ | — | $ | (1,234,736 | ) |
* | 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. |
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, 2020.
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. | $ | 81,817 | $ | (6,531 | ) | $ | — | $ | (75,286 | ) | $ | — | $ | 130,000 | ||||||||||
BNP Paribas | 929 | (929 | ) | — | — | — | — | |||||||||||||||||
Citibank, N.A. | 52,634 | (52,634 | ) | — | — | — | — | |||||||||||||||||
Goldman Sachs International | 32,494 | (32,494 | ) | — | — | — | — | |||||||||||||||||
HSBC Bank USA, N.A. | 253,526 | — | (234,229 | ) | — | 19,297 | — | |||||||||||||||||
Standard Chartered Bank | 688,837 | (5,640 | ) | — | (683,197 | ) | — | 840,000 | ||||||||||||||||
State Street Bank and Trust Company | 215,206 | (20,893 | ) | (194,313 | ) | — | — | — | ||||||||||||||||
$ | 1,325,443 | $ | (119,121 | ) | $ | (428,542 | ) | $ | (758,483 | ) | $ | 19,297 | $ | 970,000 |
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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. | $ | (6,531 | ) | $ | 6,531 | $ | — | $ | — | $ | — | $ | — | |||||||||||
BNP Paribas | (929 | ) | 929 | — | — | — | — | |||||||||||||||||
Citibank, N.A. | (710,641 | ) | 52,634 | 499,946 | 72,500 | (85,561 | ) | 72,500 | ||||||||||||||||
Deutsche Bank AG | (111,399 | ) | — | — | — | (111,399 | ) | — | ||||||||||||||||
Goldman Sachs International | (377,503 | ) | 32,494 | — | 230,000 | (115,009 | ) | 230,000 | ||||||||||||||||
JPMorgan Chase Bank, N.A. | (1,200 | ) | — | — | — | (1,200 | ) | — | ||||||||||||||||
Standard Chartered Bank | (5,640 | ) | 5,640 | — | — | — | — | |||||||||||||||||
State Street Bank and Trust Company | (20,893 | ) | 20,893 | — | — | — | — | |||||||||||||||||
$ | (1,234,736 | ) | $ | 119,121 | $ | 499,946 | $ | 302,500 | $ | (313,169 | ) | $ | 302,500 | |||||||||||
Total Deposits for derivatives collateral — OTC derivatives |
| $ | 1,272,500 |
(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. |
Information with respect to reverse repurchase agreements at September 30, 2020 is included at Note 10.
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, 2020 was as follows:
Statement of Operations Caption | Credit | Foreign Exchange | Interest Rate | Total | ||||||||||||
Net realized gain (loss) — | ||||||||||||||||
Financial futures contracts | $ | — | $ | — | $ | 4,962,647 | $ | 4,962,647 | ||||||||
Swap contracts | 1,203,640 | — | (2,404,855 | ) | (1,201,215 | ) | ||||||||||
Forward foreign currency exchange contracts | — | (9,017,423 | ) | — | (9,017,423 | ) | ||||||||||
Total | $ | 1,203,640 | $ | (9,017,423 | ) | $ | 2,557,792 | $ | (5,255,991 | ) | ||||||
Change in unrealized appreciation (depreciation) — | ||||||||||||||||
Financial futures contracts | $ | — | $ | — | $ | (4,692,540 | ) | $ | (4,692,540 | ) | ||||||
Swap contracts | (360,012 | ) | — | 2,172,464 | 1,812,452 | |||||||||||
Forward foreign currency exchange contracts | — | 891,809 | — | 891,809 | ||||||||||||
Total | $ | (360,012 | ) | $ | 891,809 | $ | (2,520,076 | ) | $ | (1,988,279 | ) |
The average notional cost of futures contracts and average notional amounts of other derivative contracts outstanding during the six months ended September 30, 2020, 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 | |||||||||||
$82,904,000 | $ | 5,751,000 | $ | 188,986,000 | $ | 56,652,000 |
* | 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. |
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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, 2020 is approximately $634,000 and is included in prepaid upfront fees on notes payable in 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, 2020, the Fund had borrowings outstanding under the Agreement of $550,000,000 at an interest rate of 1.00%. 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, 2020 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 12) at September 30, 2020. Facility fees for the six months ended September 30, 2020 totaled $1,080,209 and are included in interest expense and fees on the Statement of Operations. For the six months ended September 30, 2020, the average borrowings under the Agreement and the average annual interest rate (excluding fees) were $539,639,344 and 1.09%, respectively.
10 Reverse Repurchase Agreements
Reverse repurchase agreements outstanding as of September 30, 2020 were as follows:
Counterparty | Trade Date | Maturity Date | Interest Rate | Principal Amount | Value Including Interest | U.S. Government Securities Pledged as | ||||||||||||||||||
Bank of America | 9/24/20 | 10/27/20 | 0.24 | % | $ | 10,088,540 | $ | 10,088,944 | $ | 10,682,606 | ||||||||||||||
Bank of America | 9/24/20 | 10/27/20 | 0.29 | 26,021,921 | 26,023,178 | 28,107,573 | ||||||||||||||||||
Bank of Montreal | 9/24/20 | 10/27/20 | 0.23 | 16,933,777 | 16,934,426 | 18,150,087 | ||||||||||||||||||
Total | $ | 53,044,238 | $ | 53,046,548 | $ | 56,940,266 |
The Fund also pledged cash of $2,492,942 and $270,000 to Bank of America and Bank of Montreal, respectively, as additional collateral for its reverse repurchase agreements. At September 30, 2020, the remaining contractual maturity of all reverse repurchase agreements was less than 30 days.
For the six months ended September 30, 2020, the average borrowings under settled reverse repurchase agreements and the average annual interest rate were $59,736,288 and 0.43%, respectively. The reverse repurchase agreements entered into by the Fund are subject to Master Repurchase Agreements (MRA), which permit the Fund, under certain circumstances, including an event of default (such as bankruptcy or insolvency), to offset payables and/or receivables under the MRA with collateral held and/or posted to the counterparty and create one single net payment due to or from the Fund. At September 30, 2020, the market value of securities and cash pledged for the benefit of counterparties for reverse repurchase agreements exceeded the amount of borrowings for each counterparty. Based on the short-term nature of the borrowings under the reverse repurchase agreements, the carrying value of the payable for reverse repurchase agreements approximated its fair value at September 30, 2020. If measured at fair value, borrowings under the reverse repurchase agreements would have been considered as Level 2 in the fair value hierarchy (see Note 12) at September 30, 2020.
11 Investments in Affiliated Funds
At September 30, 2020, the value of the Fund’s investment in affiliated funds was $34,303,854, which represents 2.3% of the Fund’s net assets applicable to common shares. Transactions in affiliated funds by the Fund for the six months ended September 30, 2020 were as follows:
Name of affiliated fund | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Units, end of period | ||||||||||||||||||||||||
Short-Term Investments |
| |||||||||||||||||||||||||||||||
Eaton Vance Cash Reserves Fund, LLC | $ | 24,661,698 | $ | 483,602,818 | $ | (473,974,548 | ) | $ | 14,228 | $ | (342 | ) | $ | 34,303,854 | $ | 48,198 | 34,303,854 |
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
12 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.
At September 30, 2020, 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 | ||||||||||||
Senior Floating-Rate Loans (Less Unfunded Loan Commitments) | $ | — | $ | 759,940,750 | $ | 1,729,181 | $ | 761,669,931 | ||||||||
Corporate Bonds & Notes | — | 778,084,535 | — | 778,084,535 | ||||||||||||
Foreign Government Securities | — | 65,261,900 | — | 65,261,900 | ||||||||||||
Sovereign Loans | — | 8,676,652 | — | 8,676,652 | ||||||||||||
Mortgage Pass-Throughs | — | 258,323,286 | — | 258,323,286 | ||||||||||||
Collateralized Mortgage Obligations | — | 233,769,007 | — | 233,769,007 | ||||||||||||
Commercial Mortgage-Backed Securities | — | 77,414,421 | — | 77,414,421 | ||||||||||||
Asset-Backed Securities | — | 116,942,843 | — | 116,942,843 | ||||||||||||
Common Stocks | 828,257 | 3,958,642 | 5,242,824 | 10,029,723 | ||||||||||||
Convertible Bonds | — | 1,133,866 | — | 1,133,866 | ||||||||||||
Convertible Preferred Stocks | — | — | 0 | 0 | ||||||||||||
Preferred Stocks | 1,220,690 | 27,045 | 621,003 | 1,868,738 | ||||||||||||
Closed-End Funds | 23,366,462 | — | — | 23,366,462 | ||||||||||||
Warrants | — | — | 0 | 0 | ||||||||||||
Miscellaneous | — | 12,991 | 0 | 12,991 | ||||||||||||
Short-Term Investments — | ||||||||||||||||
U.S. Treasury Obligations | — | 499,946 | — | 499,946 | ||||||||||||
Other | — | 34,303,854 | — | 34,303,854 | ||||||||||||
Total Investments | $ | 25,415,409 | $ | 2,338,349,738 | $ | 7,593,008 | $ | 2,371,358,155 | ||||||||
Forward Foreign Currency Exchange Contracts | $ | — | $ | 1,438,853 | $ | — | $ | 1,438,853 | ||||||||
Futures Contracts | 65,438 | — | — | 65,438 | ||||||||||||
Swap Contracts | — | 203,783 | — | 203,783 | ||||||||||||
Total | $ | 25,480,847 | $ | 2,339,992,374 | $ | 7,593,008 | $ | 2,373,066,229 | ||||||||
Liability Description | ||||||||||||||||
Forward Foreign Currency Exchange Contracts | $ | — | $ | (173,653 | ) | $ | — | $ | (173,653 | ) | ||||||
Futures Contracts | (17,194 | ) | — | — | (17,194 | ) | ||||||||||
Swap Contracts | — | (4,113,535 | ) | — | (4,113,535 | ) | ||||||||||
Total | $ | (17,194 | ) | $ | (4,287,188 | ) | $ | — | $ | (4,304,382 | ) |
* | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Notes to Financial Statements (Unaudited) — continued
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, 2020 is not presented.
13 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.
Pandemic Risk
An outbreak of respiratory disease caused by a novel coronavirus was first detected in China in December 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.
14 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 by-law provisions and certain related relief. As of the date these financial statements were issued, the court has not ruled on these matters.
15 Subsequent Event
On October 8, 2020, Morgan Stanley and Eaton Vance Corp. (“Eaton Vance”) announced that they had entered into a definitive agreement under which Morgan Stanley would acquire Eaton Vance. Under the Investment Company Act of 1940, as amended, consummation of this transaction may be deemed to result in the automatic termination of an Eaton Vance Fund’s investment advisory agreement, and, where applicable, any related sub-advisory agreement. On November 10, 2020, the Fund’s Board approved a new investment advisory agreement. The new investment advisory agreement will be presented to Fund shareholders for approval, and, if approved, would take effect upon consummation of the transaction. Shareholders of record of the Fund at the close of business on October 29, 2020 who have voting power with respect to such shares are entitled to be present and vote at a joint special meeting of shareholders to be held on January 7, 2021 and at any adjournments or postponements thereof.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Board of Trustees’ Contract Approval
Overview of the Contract Review Process
The Investment Company Act of 1940, as amended (the “1940 Act”), provides, in substance, that the investment advisory agreement between a fund and its investment adviser will continue in effect from year-to-year only if its continuation is approved on an annual basis by a vote of the fund’s board of trustees, including a majority of the trustees who are not “interested persons” of the fund (“independent trustees”), cast in person at a meeting called for the purpose of considering such approval.
At a meeting held on April 22, 2020 (the “April 2020 Meeting”), the Boards of Trustees/Directors comprised of the same individuals (collectively, the “Board”) that oversees a majority of the registered investment companies advised by Eaton Vance Management or its affiliate, Boston Management and Research (the “Eaton Vance Funds”), including a majority of the independent trustees (the “Independent Trustees”), voted to approve the continuation of existing investment advisory agreements and sub-advisory agreements(1) for each of the Eaton Vance Funds for an additional one-year period. The Board relied upon the affirmative recommendation of its Contract Review Committee, which is a committee exclusively comprised of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by the adviser and sub-adviser to each of the Eaton Vance Funds (including information specifically requested by the Board) for a series of formal meetings held between February and April 2020. Members of the Contract Review Committee also considered information received at prior meetings of the Board and its committees, to the extent such information was relevant to the Contract Review Committee’s annual evaluation of the investment advisory agreements and sub-advisory agreements.
In connection with its evaluation of the investment advisory agreements and sub-advisory agreements, the Board considered various information relating to the Eaton Vance Funds. This included information applicable to all or groups of Eaton Vance Funds, which is referenced immediately below, and information applicable to the particular Eaton Vance Fund covered by this report (additional fund-specific information is referenced below under “Results of the Contract Review Process”). (For funds that invest through one or more underlying portfolios, references to “each fund” in this section may include information that was considered at the portfolio-level.)
Information about Fees, Performance and Expenses
• | A report from an independent data provider comparing advisory and other fees paid by each fund to such fees paid by comparable funds, as identified by the independent data provider (“comparable funds”); |
• | A report from an independent data provider comparing each fund’s total expense ratio (and its components) to those of comparable funds; |
• | A report from an independent data provider comparing the investment performance of each fund (including, as relevant, total return data, income data, Sharpe ratios and information ratios) to the investment performance of comparable funds and, as applicable, benchmark indices, over various time periods; |
• | In certain instances, data regarding investment performance relative to customized groups of peer funds and blended indices identified by the adviser in consultation with the Portfolio Management Committee of the Board; |
• | Comparative information concerning the fees charged and services provided by the adviser and sub-adviser to each fund in managing other accounts (which may include other mutual funds, collective investment funds and institutional accounts) using investment strategies and techniques similar to those used in managing such fund(s), if any; |
• | Profitability analyses with respect to the adviser and sub-adviser to each of the funds; |
Information about Portfolio Management and Trading
• | Descriptions of the investment management services provided to each fund, as well as each of the funds’ investment strategies and policies; |
• | The procedures and processes used to determine the fair value of fund assets, when necessary, and actions taken to monitor and test the effectiveness of such procedures and processes; |
• | Information about the policies and practices of each fund’s adviser and sub-adviser (in the context of a sub-adviser, only those with trading responsibilities) with respect to trading, including their processes for seeking best execution of portfolio transactions; |
• | Information about the allocation of brokerage transactions and the benefits, if any, received by the adviser and sub-adviser (in the context of a sub-adviser, only those with trading responsibilities) to each fund as a result of brokerage allocation, including, as applicable, information concerning the acquisition of research through client commission arrangements and policies with respect to “soft dollars”; |
• | Data relating to the portfolio turnover rate of each fund; |
Information about each Adviser and Sub-adviser
• | Reports detailing the financial results and condition of the adviser and sub-adviser to each fund; |
• | Information regarding the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and, for portfolio managers and certain other investment professionals, information relating to their responsibilities with respect to managing other mutual funds and investment accounts, as applicable; |
(1) | Not all Eaton Vance Funds have entered into a sub-advisory agreement with a sub-adviser. Accordingly, references to “sub-adviser” or “sub-advisory agreement” in this “Overview” section may not be applicable to the particular Eaton Vance Fund covered by this report. |
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Board of Trustees’ Contract Approval — continued
• | The Code of Ethics of the adviser and its affiliates and the sub-adviser of each fund, together with information relating to compliance with, and the administration of, such codes; |
• | Policies and procedures relating to proxy voting and the handling of corporate actions and class actions; |
• | Information concerning the resources devoted to compliance efforts undertaken by the adviser and its affiliates and the sub-adviser of each fund, if any, including descriptions of their various compliance programs and their record of compliance; |
• | Information concerning the business continuity and disaster recovery plans of the adviser and its affiliates and the sub-adviser of each fund, if any; |
• | A description of Eaton Vance Management’s and Boston Management and Research’s oversight of sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters; |
Other Relevant Information
• | Information concerning the nature, cost and character of the administrative and other non-investment advisory services provided by Eaton Vance Management and its affiliates; |
• | Information concerning oversight of the relationship with the custodian, subcustodians and fund accountants by the adviser and/or administrator to each of the funds; |
• | For an Eaton Vance Fund structured as an exchange-listed closed-end fund, information concerning the benefits of the closed-end fund structure, as well as, where relevant, the closed-end fund’s market prices, trading volume data, distribution rates and other relevant matters; and |
• | The terms of each investment advisory agreement and sub-advisory agreement. |
During the various meetings of the Board and its committees throughout the twelve months ended April 2020, the Trustees received information from portfolio managers and other investment professionals of the advisers and sub-advisers of the funds regarding investment and performance matters, and considered various investment and trading strategies used in pursuing the funds’ investment objectives. The Trustees also received information regarding risk management techniques employed in connection with the management of the funds. The Board and its committees evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management, Boston Management and Research and fund sub-advisers, with respect to such matters. In addition to the formal meetings of the Board and its committees, the Independent Trustees held regular teleconferences to discuss, among other topics, matters relating to the continuation of investment advisory agreements and sub-advisory agreements.
The Contract Review Committee was advised throughout the contract review process by Goodwin Procter LLP, independent legal counsel for the Independent Trustees. The members of the Contract Review Committee, with the advice of such counsel, exercised their own business judgment in determining the material factors to be considered in evaluating each investment advisory agreement and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment advisory agreement and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each investment advisory agreement and sub-advisory agreement. In evaluating each investment advisory agreement and sub-advisory agreement, including the fee structures and other terms contained in such agreements, the members of the Contract Review Committee were also informed by multiple years of analysis and discussion with the adviser and sub-adviser to each of the Eaton Vance Funds.
In voting its approval of the continuation of existing investment advisory agreements and sub-advisory agreements at the April 2020 Meeting, the Board relied on an order issued by the Securities and Exchange Commission on March 25, 2020, which provided temporary relief from the in-person voting requirements under Section 15 of the 1940 Act in response to the impacts of the COVID-19 pandemic.
Results of the Contract Review Process
Based on its consideration of the foregoing, and such other information it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement between Eaton Vance Limited Duration Income Fund (the “Fund”) and Eaton Vance Management (the “Adviser”), including its fee structure, is in the interests of shareholders and, therefore, recommended to the Board approval of the agreement. Based on the recommendation of the Contract Review Committee, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory agreement for the Fund.
Nature, Extent and Quality of Services
In considering whether to approve the investment advisory agreement for the Fund, the Board evaluated the nature, extent and quality of services provided to the Fund by the Adviser.
The Board considered the Adviser’s management capabilities and investment processes in light of the types of investments held by the Fund, including the education, experience and number of investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Fund, including recent changes to such personnel. In particular, the Board considered the abilities and experience of the Adviser’s investment professionals in analyzing factors such as credit risk in the context of investment grade and below investment grade investments. The Board
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Board of Trustees’ Contract Approval — continued
considered the Adviser’s ability to implement the Fund’s investment strategy, including, with respect to the component of the Fund invested in below investment grade investments and bank loans, the Adviser’s deep and broad experience with investing in high-yield bonds and senior secured floating rate loans. The Board also considered, among other things, the Adviser’s experience investing in mortgage-backed securities and other investment grade instruments. As part of its evaluation, the Board considered the resources available to investment professionals of the Adviser. The Board also took into account the resources dedicated to portfolio management and other services, the compensation methods of the Adviser and other factors, including the reputation and resources of the Adviser to recruit and retain highly qualified research, advisory and supervisory investment professionals. In addition, the Board considered the time and attention devoted to the Eaton Vance Funds, including the Fund, by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the portfolio management and operations of the Fund, including the provision of administrative services. The Board also considered the business-related and other risks to which the Adviser or its affiliates may be subject in managing the Fund. The Board considered the deep experience of the Adviser and its affiliates with managing and operating funds organized as exchange-listed closed-end funds, such as the Fund. In this regard, the Board considered, among other things, the Adviser’s and its affiliates’ experience with implementing leverage arrangements, monitoring and assessing trading price discounts and premiums and adhering to the requirements of securities exchanges.
The Board considered the compliance programs of the Adviser and relevant affiliates thereof. The Board considered compliance and reporting matters regarding, among other things, personal trading by investment professionals, disclosure of portfolio holdings, late trading, frequent trading, portfolio valuation, business continuity and the allocation of investment opportunities. The Board also considered the responses of the Adviser and its affiliates to requests in recent years from regulatory authorities, such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.
The Board considered other administrative services provided or overseen by Eaton Vance Management and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large fund complex offering exposure to a variety of asset classes and investment disciplines.
After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by the Adviser, taken as a whole, are appropriate and consistent with the terms of the investment advisory agreement.
Fund Performance
The Board compared the Fund’s investment performance to that of comparable funds identified by an independent data provider (the peer group), as well as a custom benchmark index and a custom peer group of similarly managed funds. The Board’s review included comparative performance data with respect to the Fund for the one-, three-, five- and ten-year periods ended September 30, 2019. In this regard, the Board noted that the performance of the Fund was lower than the median performance of the Fund’s peer group and custom peer group for the three-year period. The Board also noted that the performance of the Fund was higher than its custom benchmark index for the three-year period. On the basis of the foregoing and other relevant information provided by the Adviser in response to inquiries from the Contract Review Committee, the Board concluded that the performance of the Fund was satisfactory.
Management Fees and Expenses
The Board considered contractual fee rates payable by the Fund for advisory and administrative services (referred to collectively as “management fees”). As part of its review, the Board considered the Fund’s management fees and total expense ratio for the one-year period ended September 30, 2019, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also considered factors that had an impact on the Fund’s total expense ratio relative to comparable funds.
After considering the foregoing information, and in light of the nature, extent and quality of the services provided by the Adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.
Profitability and “Fall-Out” Benefits
The Board considered the level of profits realized by the Adviser and relevant affiliates thereof in providing investment advisory and administrative services to the Fund and to all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to marketing support or other payments by the Adviser and its affiliates to third parties in respect of distribution or other services.
The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by the Adviser and its affiliates are deemed not to be excessive.
The Board also considered direct or indirect fall-out benefits received by the Adviser and its affiliates in connection with their respective relationships with the Fund, including the benefits of research services that may be available to the Adviser as a result of securities transactions effected for the Fund and other investment advisory clients.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Board of Trustees’ Contract Approval — continued
Economies of Scale
In reviewing management fees and profitability, the Board also considered the extent to which the Adviser and its affiliates, on the one hand, and the Fund, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from economies of scale, if any, with respect to the management of any specific fund or group of funds. The Board reviewed data summarizing the increases and decreases in the assets of the Fund and of all Eaton Vance Funds as a group over various time periods, and evaluated the extent to which the total expense ratio of the Fund and the profitability of the Adviser and its affiliates may have been affected by such increases or decreases. Based upon the foregoing, the Board concluded that the Fund currently shares in the benefits from economies of scale, if any, when they are realized by the Adviser. The Board also considered the fact that the Fund is not continuously offered and that the Fund’s assets are not expected to increase materially in the foreseeable future. Accordingly, the Board did not find that the implementation of breakpoints in the advisory fee schedule is warranted at this time.
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Eaton Vance
Limited Duration Income Fund
September 30, 2020
Officers
Eric A. Stein
President
Maureen A. Gemma
Vice President, Secretary and Chief Legal Officer
James F. Kirchner
Treasurer
Richard F. Froio
Chief Compliance Officer
Trustees
William H. Park
Chairperson
Thomas E. Faust Jr.*
Mark R. Fetting
Cynthia E. Frost
George J. Gorman
Valerie A. Mosley
Helen Frame Peters
Keith Quinton
Marcus L. Smith
Susan J. Sutherland
Scott E. Wennerholm
* | Interested Trustee |
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Eaton Vance Funds
Privacy. The Eaton Vance organization is committed to ensuring your financial privacy. Each entity listed below has adopted a privacy policy and procedures (“Privacy Program”) Eaton Vance believes is reasonably designed to protect your personal information and to govern when and with whom Eaton Vance may share your personal information.
• | At the time of opening an account, Eaton Vance generally requires you to provide us with certain information such as name, address, social security number, tax status, account numbers, and account balances. This information is necessary for us to both open an account for you and to allow us to satisfy legal requirements such as applicable anti-money laundering reviews and know-your-customer requirements. |
• | On an ongoing basis, in the normal course of servicing your account, Eaton Vance may share your information with unaffiliated third parties that perform various services for Eaton Vance and/or your account. These third parties include transfer agents, custodians, broker/dealers and our professional advisers, including auditors, accountants, and legal counsel. Eaton Vance may additionally share your personal information with our affiliates. |
• | We believe our Privacy Program is reasonably designed to protect the confidentiality of your personal information and to prevent unauthorized access to that information. |
• | We reserve the right to change our Privacy Program at any time upon proper notification to you. You may want to review our Privacy Program periodically for changes by accessing the link on our homepage: www.eatonvance.com. |
Our pledge of protecting your personal information applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds, Eaton Vance Management, Eaton Vance Investment Counsel, 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, and Calvert Funds. This Privacy Notice supersedes all previously issued privacy disclosures. For more information about our Privacy Program or about how your personal information may be used, please call 1-800-262-1122.
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
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7731 9.30.20
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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.
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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 |
(a)(1) | Registrant’s Code of Ethics – Not applicable (please see Item 2). | |
(a)(2)(i) | Treasurer’s Section 302 certification. | |
(a)(2)(ii) | President’s Section 302 certification. | |
(b) | Combined Section 906 certification. |
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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.
Eaton Vance Limited Duration Income Fund | ||
By: | /s/ Eric A. Stein | |
Eric A. Stein | ||
President | ||
Date: | November 23, 2020 |
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.
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: | November 23, 2020 |
By: | /s/ Eric A. Stein | |
Eric A. Stein | ||
President | ||
Date: | November 23, 2020 |