Eaton Vance Senior Income Trust

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.

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 Fund has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act. 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 and 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.

Economic and Market Conditions

The U.S. floating-rate loan market experienced a positive return for the 12-month period ended June 30, 2019, with the S&P/ LSTA Leveraged Loan Index (the Index),² a broad barometer of the U.S. loan market, returning 3.97%. Coupon income represented the majority of performance, as loan prices eased over the period amid weakening technical conditions. The average loan price within the Index softened to $96.80 at the end of June 2019, down from $98.10 as the period commenced — but up from a monthly low of $93.80 in December 2018.

In the opening months of the period, the U.S. fixed income market was still in a rising-rate environment, with the U.S. Federal Reserve Board (the Fed) announcing a rate hike in September 2018 — its third of the year — and investors generally expecting incremental hikes to continue. While rising rates were a negative for most fixed income asset classes, they helped demand for floating-rate investments.

But as 2018 came to a close, a return of marked volatility in equities and a subsequent pivot to dovish comments by the Fed led investors to reduce exposure in corporate asset classes, including loans, as they feared weakness in the U.S. economy. As market participants increasingly anticipated falling interest rates, demand for floating-rate investments weakened, leading to market value declines in the final quarter of 2018. In January and February of 2019, however, the floating-rate market experienced a recovery, erasing a large portion of the losses in the previous quarter. Price performance was mixed in the final months of the period, down in March before rallying in April, then easing again in May and June.

The par amount of loan outstandings grew during the period to a record $1.2 trillion, up approximately $150 billion as the supply of new loans within the Index expanded. On the demand side, institutional investors represented the vast majority of loan market demand, with investor interest throughout the period. However, a key offset proved to be retail mutual fund redemptions — despite otherwise sound loan market fundamentals and strong buying activity among institutional investors.

Corporate fundamentals continued to reflect the relatively benign economic environment, as the U.S. recovery held steady during the period. On a last-12-months basis, the loan default rate closed the period at 1.34% on a par-weighted basis, down from almost 2% at the start of the period and well below its long-term average of approximately 3%.

Fund Performance

For the 12-month period ended June 30, 2019, Eaton Vance Senior Income Trust (the Fund) shares returned 4.46% at net asset value (NAV), outperforming the 3.97% return of the Index.

Under normal market conditions, the Fund invests at least 80% of its total assets in senior loans of domestic and foreign borrowers that are denominated in U.S. dollars, euros, British pounds, Swiss francs, Canadian dollars and Australian dollars. In keeping with its objective to provide a high level of current income, consistent with the preservation of capital, the Fund has historically tended to overweight higher-rated loans relative to the Index. This strategy may help the Fund experience limited credit losses over time, but it may detract from relative results versus the Index in times when lower-rated loans perform well.

For the 12-month period, BBB-rated⁸ loans in the Index returned 4.38%, BB-rated loans in the Index returned 4.08%, B-rated loans in the Index returned 4.22%, CCC-rated loans in the Index returned 2.39%, and D-rated (defaulted) loans in the Index returned –10.72%. Given this performance mix, the Fund’s positioning and resulting underweight, relative to the Index, to CCC-rated loans and defaulted loans helped performance versus the Index.

Performance was also helped by the Fund’s holdings in high-yield bonds, as the high-yield asset class outperformed the loan market during the period — and high-yield bonds are not included in the Index. The Fund’s employment of investment leverage⁶ also contributed to performance versus the Index, which does not employ leverage. The use of leverage has the effect of achieving additional exposure to the loan market, and thus magnifying the Fund’s underlying investments in both up and down market environments. The use of leverage amplified the positive total return of the Fund’s underlying portfolio during the period. Additionally, the repurchase of a portion of the Fund’s auction preferred shares at a discount to their par value contributed to performance versus the Index.

Credit selection detracted from performance versus the Index for the period. Examples include loan picks within the financial intermediaries, retailers (except food and drug), and oil and gas sectors.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested and include management fees and other expenses. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance 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.

Portfolio Managers Scott H. Page, CFA, John Redding, Andrew N. Sveen, CFA, Catherine C. McDermott, William E. Holt, CFA and Daniel P. McElaney, CFA

Top 10 Issuers (% of total investments)⁷



Reynolds Group Holdings, Inc.	1.3	%

TransDigm, Inc.	1.2

Bausch Health Companies, Inc.	1.2

Asurion, LLC	1.2

Jaguar Holding Company II	0.9

Infor (US), Inc.	0.8

Virgin Media Investment Holdings Limited	0.8

Uber Technologies	0.8

MA FinanceCo., LLC	0.7

Hyland Software, Inc.	0.7

Total	9.6	%

Top 10 Sectors (% of total investments)⁷



Electronics/Electrical	11.6	%

Health Care	9.2

Business Equipment and Services	8.5

Chemicals and Plastics	4.7

Telecommunications	4.7

Drugs	4.1

Cable and Satellite Television	4.1

Leisure Goods/Activities/Movies	4.0

Industrial Equipment	3.8

Lodging and Casinos	3.6

Total	58.3	%

The views expressed in this report are those of the portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance and the Fund(s) disclaim any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as “forward looking statements.” The Fund’s actual future results may differ significantly from those stated in any forward looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund’s filings with the Securities and Exchange Commission.

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. 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.

Performance results reflect the effects of leverage. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable. Included in the average annual total return at NAV is the impact of the tender and repurchase of a portion of the Fund’s APS at 95% and 92% of the Fund’s APS per share liquidation preference. Had these transactions not occurred, the total return at NAV would be lower for the Fund.

⁴	The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund 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 http://eatonvance.com/closedend.

⁵

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 may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance.com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.

⁶

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.

⁷	Excludes cash and cash equivalents.

⁸

Credit ratings are categorized using S&P Global Ratings (“S&P”). Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P are considered to be investment- grade quality. Credit ratings are based largely on the ratings agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of the volatility of a security’s market value or of the liquidity of an investment in the security. Holdings designated as “Not Rated” (if any) are not rated by S&P.

Fund profile subject to change due to active management.

Important Notice to Shareholders

Effective March 1, 2019, the Fund is managed by Scott H. Page, John Redding, Andrew N. Sveen, Catherine C. McDermott, William E. Holt and Daniel P. McElaney. Mr. Page will serve as a member of the portfolio management team of the Fund through October 31, 2019.


Senior Floating-Rate Loans — 134.7%⁽¹⁾
Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Aerospace and Defense — 2.2%

Dynasty Acquisition Co., Inc.

Term Loan, 6.33%, (3 mo. USD LIBOR + 4.00%), Maturing April 6, 2026			244	$	245,215

IAP Worldwide Services, Inc.

Revolving Loan, 1.46%, (3 mo. USD LIBOR + 5.50%), Maturing July 18, 2019⁽²⁾			161		160,790

Term Loan - Second Lien, 8.83%, (3 mo. USD LIBOR + 6.50%), Maturing July 18, 2020⁽³⁾			211		169,384

TransDigm, Inc.

Term Loan, 4.83%, (3 mo. USD LIBOR + 2.50%), Maturing June 9, 2023			2,904		2,855,343

Term Loan, 4.83%, (3 mo. USD LIBOR + 2.50%), Maturing August 22, 2024			1,210		1,186,416

Wesco Aircraft Hardware Corp.

Term Loan, 5.41%, (1 mo. USD LIBOR + 3.00%), Maturing November 30, 2020			410		407,639

WP CPP Holdings, LLC

Term Loan, 6.34%, (3 mo. USD LIBOR + 3.75%), Maturing April 30, 2025			744		744,685

				$	5,769,472

Automotive — 3.6%

Adient US, LLC

Term Loan, 6.87%, (USD LIBOR + 4.25%), Maturing May 6, 2024⁽⁴⁾			675	$	659,672

American Axle and Manufacturing, Inc.

Term Loan, 4.72%, (USD LIBOR + 2.25%), Maturing April 6, 2024⁽⁴⁾			1,434		1,406,287

Apro, LLC

Term Loan, 6.41%, (1 mo. USD LIBOR + 4.00%), Maturing August 8, 2024			121		120,671

Belron Finance US, LLC

Term Loan, 5.07%, (3 mo. USD LIBOR + 2.50%), Maturing November 7, 2024			246		246,401

Chassix, Inc.

Term Loan, 8.06%, (USD LIBOR + 5.50%), Maturing November 15, 2023⁽⁴⁾			640		641,050

Dayco Products, LLC

Term Loan, 6.77%, (3 mo. USD LIBOR + 4.25%), Maturing May 19, 2023			490		476,881

Garrett LX III S.a.r.l.

Term Loan, 2.75%, (3 mo. EURIBOR + 2.75%), Maturing September 27, 2025	EUR		225		255,741

Term Loan, 4.82%, (3 mo. USD LIBOR + 2.50%), Maturing September 27, 2025			124		122,278


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Automotive (continued)

IAA Spinco, Inc.

Term Loan, Maturing May 22, 2026⁽⁵⁾			275	$	276,375

L&W, Inc.

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing May 22, 2025			371		363,825

Panther BF Aggregator 2 L.P.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing April 30, 2026			1,675		1,663,275

Tenneco, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing October 1, 2025			1,692		1,564,637

Thor Industries, Inc.

Term Loan, 6.25%, (1 mo. USD LIBOR + 3.75%), Maturing February 1, 2026			617		609,703

TI Group Automotive Systems, LLC

Term Loan, 3.50%, (3 mo. EURIBOR + 2.75%, Floor 0.75%), Maturing June 30, 2022	EUR		361		410,166

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing June 30, 2022			430		426,554

Tower Automotive Holdings USA, LLC

Term Loan, 5.19%, (1 mo. USD LIBOR + 2.75%), Maturing March 7, 2024			224		218,918

				$	9,462,434

Beverage and Tobacco — 0.7%

Arterra Wines Canada, Inc.

Term Loan, 5.17%, (3 mo. USD LIBOR + 2.75%), Maturing December 15, 2023			1,197	$	1,187,561

Flavors Holdings, Inc.

Term Loan, 8.08%, (3 mo. USD LIBOR + 5.75%), Maturing April 3, 2020			271		255,059

Term Loan - Second Lien, 12.33%, (3 mo. USD LIBOR + 10.00%), Maturing October 3, 2021			500		412,500

				$	1,855,120

Brokerage / Securities Dealers / Investment Houses — 0.2%

Advisor Group, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing August 15, 2025			273	$	273,194

OZ Management L.P.

Term Loan, 7.19%, (1 mo. USD LIBOR + 4.75%), Maturing April 10, 2023			72		71,500

Resolute Investment Managers, Inc.

Term Loan - Second Lien, 10.08%, (3 mo. USD LIBOR + 7.50%), Maturing April 30, 2023			250		251,250

				$	595,944


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Building and Development — 3.9%

American Builders & Contractors Supply Co., Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing October 31, 2023		1,369	$	1,350,645

Beacon Roofing Supply, Inc.

Term Loan, 4.66%, (1 mo. USD LIBOR + 2.25%), Maturing January 2, 2025		272		268,770

Brookfield Property REIT, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing August 27, 2025		447		437,010

Core & Main L.P.

Term Loan, 5.52%, (3 mo. USD LIBOR + 3.00%), Maturing August 1, 2024		519		518,834

CPG International, Inc.

Term Loan, 5.93%, (6 mo. USD LIBOR + 3.75%), Maturing May 5, 2024		915		900,883

DTZ U.S. Borrower, LLC

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing August 21, 2025		2,605		2,601,066

Henry Company, LLC

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing October 5, 2023		195		195,444

NCI Building Systems, Inc.

Term Loan, 6.35%, (3 mo. USD LIBOR + 3.75%), Maturing April 12, 2025		347		338,684

Quikrete Holdings, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing November 15, 2023		1,202		1,183,049

RE/MAX International, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing December 15, 2023		896		894,860

Summit Materials Companies I, LLC

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing November 21, 2024		296		294,392

Werner FinCo L.P.

Term Loan, 6.33%, (3 mo. USD LIBOR + 4.00%), Maturing July 24, 2024		541		519,790

WireCo WorldGroup, Inc.

Term Loan, 7.40%, (1 mo. USD LIBOR + 5.00%), Maturing September 30, 2023		267		268,189

Term Loan - Second Lien, 11.40%, (1 mo. USD LIBOR + 9.00%), Maturing September 30, 2024		575		574,641

			$	10,346,257

Business Equipment and Services — 12.6%

Acosta Holdco, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing September 26, 2021		1,032	$	384,876


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Business Equipment and Services (continued)

Adtalem Global Education, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing April 11, 2025			173	$	173,304

AlixPartners, LLP

Term Loan, 3.25%, (1 mo. EURIBOR + 3.25%), Maturing April 4, 2024	EUR		350		398,731

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing April 4, 2024			1,052		1,051,354

Allied Universal Holdco, LLC

Term Loan, Maturing June 26, 2026⁽⁵⁾			61		60,747

Term Loan, Maturing June 26, 2026⁽⁵⁾			614		613,549

Altran Technologies S.A.

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing March 20, 2025	EUR		679		775,008

AppLovin Corporation

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing August 15, 2025			1,643		1,640,507

Belfor Holdings, Inc.

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing April 6, 2026			225		226,688

Blitz F18-675 GmbH

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 31, 2025	EUR		725		831,508

Bracket Intermediate Holding Corp.

Term Loan, 6.82%, (3 mo. USD LIBOR + 4.25%), Maturing September 5, 2025			422		420,758

Brand Energy & Infrastructure Services, Inc.

Term Loan, 6.79%, (USD LIBOR + 4.25%), Maturing June 21, 2024⁽⁴⁾			245		238,140

Camelot UK Holdco Limited

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing October 3, 2023			521		523,226

Ceridian HCM Holding, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing April 30, 2025			695		696,917

Change Healthcare Holdings, LLC

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing March 1, 2024			3,016		2,996,647

Crossmark Holdings, Inc.

DIP Loan, 9.90%, (1 mo. USD LIBOR + 7.50%), Maturing July 15, 2019			59		59,054

Term Loan, 0.00%, Maturing December 20, 2019⁽⁶⁾			694		246,368

Cypress Intermediate Holdings III, Inc.

Term Loan, 5.16%, (1 mo. USD LIBOR + 2.75%), Maturing April 26, 2024			1,208		1,194,958

Deerfield Dakota Holding, LLC

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing February 13, 2025			748		727,845


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Business Equipment and Services (continued)

EAB Global, Inc.

Term Loan, 6.38%, (USD LIBOR + 3.75%), Maturing November 15, 2024⁽⁴⁾			617	$	613,716

Education Management, LLC

Term Loan, 0.00%, Maturing July 2, 2020⁽³⁾⁽⁶⁾			162		0

Term Loan, 0.00%, Maturing July 2, 2020⁽³⁾⁽⁶⁾			207		38,729

EIG Investors Corp.

Term Loan, 6.27%, (3 mo. USD LIBOR + 3.75%), Maturing February 9, 2023			1,457		1,449,465

Element Materials Technology Group US Holdings, Inc.

Term Loan, 6.15%, (3 mo. USD LIBOR + 3.50%), Maturing June 28, 2024			172		172,016

Garda World Security Corporation

Term Loan, 6.03%, (3 mo. USD LIBOR + 3.50%), Maturing May 24, 2024			923		918,305

Term Loan, 6.26%, (CIDOR + 4.25%), Maturing May 24, 2024	CAD		417		314,868

IG Investment Holdings, LLC

Term Loan, 6.37%, (USD LIBOR + 4.00%), Maturing May 23, 2025⁽⁴⁾			1,119		1,111,223

IRI Holdings, Inc.

Term Loan, 7.02%, (3 mo. USD LIBOR + 4.50%), Maturing December 1, 2025			970		969,519

Iron Mountain, Inc.

Term Loan, 4.15%, (1 mo. USD LIBOR + 1.75%), Maturing January 2, 2026			420		408,408

J.D. Power and Associates

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing September 7, 2023			1,071		1,068,184

KAR Auction Services, Inc.

Term Loan, 4.63%, (3 mo. USD LIBOR + 2.25%), Maturing March 11, 2021			229		229,065

Kronos Incorporated

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.00%), Maturing November 1, 2023			2,773		2,769,781

KUEHG Corp.

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.75%), Maturing February 21, 2025			1,432		1,429,728

Term Loan - Second Lien, 10.58%, (3 mo. USD LIBOR + 8.25%), Maturing August 18, 2025			200		199,750

Monitronics International, Inc.

Term Loan, 10.00%, (USD Prime + 4.50%), Maturing September 30, 2022			883		843,352

PGX Holdings, Inc.

Term Loan, 7.66%, (1 mo. USD LIBOR + 5.25%), Maturing September 29, 2020			573		544,602


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Business Equipment and Services (continued)

Ping Identity Corporation

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing January 24, 2025			173	$	173,033

Pre-Paid Legal Services, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing May 1, 2025			206		205,875

Prime Security Services Borrower, LLC

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing May 2, 2022			1,130		1,124,276

Red Ventures, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing November 8, 2024			667		665,882

SMG US Midco 2, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing January 23, 2025			123		122,859

Solera, LLC

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing March 3, 2023			1,112		1,106,816

Spin Holdco, Inc.

Term Loan, 5.85%, (3 mo. USD LIBOR + 3.25%), Maturing November 14, 2022			1,696		1,666,055

Tempo Acquisition, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing May 1, 2024			909		906,122

Vestcom Parent Holdings, Inc.

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing December 19, 2023			241		230,177

WASH Multifamily Laundry Systems, LLC

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing May 14, 2022			123		122,157

West Corporation

Term Loan, 6.02%, (3 mo. USD LIBOR + 3.50%), Maturing October 10, 2024			149		137,084

Term Loan, 6.52%, (3 mo. USD LIBOR + 4.00%), Maturing October 10, 2024			517		483,404

ZPG PLC

Term Loan, 5.22%, (1 mo. GBP LIBOR + 4.50%), Maturing June 30, 2025	GBP		350		437,746

				$	33,722,382

Cable and Satellite Television — 5.8%

Altice France S.A.

Term Loan, 6.08%, (1 mo. USD LIBOR + 3.69%), Maturing January 31, 2026			347	$	337,803

Term Loan, 6.39%, (1 mo. USD LIBOR + 4.00%), Maturing August 14, 2026			700		686,980


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Cable and Satellite Television (continued)

CSC Holdings, LLC

Term Loan, 4.64%, (1 mo. USD LIBOR + 2.25%), Maturing July 17, 2025			1,711	$	1,686,923

Term Loan, 4.64%, (1 mo. USD LIBOR + 2.25%), Maturing January 15, 2026			474		467,495

Term Loan, 4.89%, (1 mo. USD LIBOR + 2.50%), Maturing January 25, 2026			594		588,131

Numericable Group S.A.

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing July 31, 2025	EUR		221		243,078

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing July 31, 2025			882		842,310

Radiate Holdco, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing February 1, 2024			908		889,383

Telenet Financing USD, LLC

Term Loan, 4.64%, (1 mo. USD LIBOR + 2.25%), Maturing August 15, 2026			1,225		1,213,643

Unitymedia Finance, LLC

Term Loan, 4.64%, (1 mo. USD LIBOR + 2.25%), Maturing January 15, 2026			450		449,241

Unitymedia Hessen GmbH & Co. KG

Term Loan, 2.75%, (6 mo. EURIBOR + 2.75%), Maturing January 15, 2027	EUR		500		569,261

UPC Financing Partnership

Term Loan, 4.89%, (1 mo. USD LIBOR + 2.50%), Maturing January 15, 2026			1,488		1,487,997

Virgin Media Bristol, LLC

Term Loan, 4.89%, (1 mo. USD LIBOR + 2.50%), Maturing January 15, 2026			3,250		3,242,327

Ziggo Secured Finance B.V.

Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), Maturing April 15, 2025	EUR		1,075		1,221,827

Ziggo Secured Finance Partnership

Term Loan, 4.89%, (1 mo. USD LIBOR + 2.50%), Maturing April 15, 2025			1,700		1,668,242

				$	15,594,641

Chemicals and Plastics — 6.9%

Alpha 3 B.V.

Term Loan, 5.33%, (3 mo. USD LIBOR + 3.00%), Maturing January 31, 2024			646	$	633,934

Aruba Investments, Inc.

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.25%), Maturing February 2, 2022			436		434,180


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Chemicals and Plastics (continued)

Axalta Coating Systems US Holdings, Inc.

Term Loan, 4.08%, (3 mo. USD LIBOR + 1.75%), Maturing June 1, 2024			1,255	$	1,242,317

Chemours Company (The)

Term Loan, 2.50%, (3 mo. EURIBOR + 2.00%, Floor 0.50%), Maturing April 3, 2025	EUR		287		327,024

Emerald Performance Materials, LLC

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing August 1, 2021			236		236,041

Term Loan - Second Lien, 10.15%, (1 mo. USD LIBOR + 7.75%), Maturing August 1, 2022			275		270,417

Ferro Corporation

Term Loan, 4.58%, (3 mo. USD LIBOR + 2.25%), Maturing February 14, 2024			159		157,652

Term Loan, 4.58%, (3 mo. USD LIBOR + 2.25%), Maturing February 14, 2024			162		161,079

Term Loan, 4.58%, (3 mo. USD LIBOR + 2.25%), Maturing February 14, 2024			196		194,181

Flint Group GmbH

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.00%), Maturing September 7, 2021			71		59,411

Flint Group US, LLC

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.00%), Maturing September 7, 2021			429		359,391

Gemini HDPE, LLC

Term Loan, 5.09%, (3 mo. USD LIBOR + 2.50%), Maturing August 7, 2024			757		754,960

H.B. Fuller Company

Term Loan, 4.38%, (1 mo. USD LIBOR + 2.00%), Maturing October 20, 2024			859		846,135

Hexion, Inc.

DIP Loan, 5.35%, (3 mo. USD LIBOR + 2.75%), Maturing October 1, 2020			125		125,155

Term Loan, Maturing June 25, 2026⁽⁵⁾			350		346,500

Term Loan, Maturing June 25, 2026⁽⁵⁾	EUR		700		796,468

Ineos Finance PLC

Term Loan, 2.50%, (1 mo. EURIBOR + 2.00%, Floor 0.50%), Maturing March 31, 2024	EUR		1,428		1,618,988

Ineos US Finance, LLC

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing March 31, 2024			493		487,062

Invictus U.S., LLC

Term Loan, 5.52%, (3 mo. USD LIBOR + 3.00%), Maturing March 28, 2025			222		220,799

Kraton Polymers, LLC

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing March 5, 2025			452		451,715


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Chemicals and Plastics (continued)

Messer Industries GmbH

Term Loan, 4.83%, (3 mo. USD LIBOR + 2.50%), Maturing March 1, 2026			698	$	689,085

Minerals Technologies, Inc.

Term Loan, 4.65%, (USD LIBOR + 2.25%), Maturing February 14, 2024⁽⁴⁾			411		411,250

Momentive Performance Materials, Inc.

Term Loan, 5.59%, (3 mo. USD LIBOR + 3.25%), Maturing April 16, 2024			225		223,734

Orion Engineered Carbons GmbH

Term Loan, 2.25%, (3 mo. EURIBOR + 2.25%), Maturing July 25, 2024	EUR		363		412,770

Term Loan, 4.33%, (3 mo. USD LIBOR + 2.00%), Maturing July 25, 2024			478		475,728

Platform Specialty Products Corporation

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing January 30, 2026			299		298,065

PMHC II, Inc.

Term Loan, 6.10%, (USD LIBOR + 3.50%), Maturing March 31, 2025⁽⁴⁾			173		158,123

Polar US Borrower, LLC

Term Loan, 7.34%, (3 mo. USD LIBOR + 4.75%), Maturing October 15, 2025			448		442,702

PQ Corporation

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.50%), Maturing February 8, 2025			1,333		1,328,759

Spectrum Holdings III Corp.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing January 31, 2025			157		148,217

Starfruit Finco B.V.

Term Loan, 3.75%, (6 mo. EURIBOR + 3.75%), Maturing October 1, 2025	EUR		200		228,642

Term Loan, 5.67%, (1 mo. USD LIBOR + 3.25%), Maturing October 1, 2025			1,347		1,328,664

Tronox Finance, LLC

Term Loan, 5.37%, (1 mo. USD LIBOR + 3.00%), Maturing September 23, 2024			1,453		1,440,451

Univar, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing July 1, 2024			988		986,007

Venator Materials Corporation

Term Loan, 5.52%, (3 mo. USD LIBOR + 3.00%), Maturing August 8, 2024			172		170,003

				$	18,465,609


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Conglomerates — 0.3%

Kronos Acquisition Holdings, Inc.

Term Loan, 9.40%, (1 mo. USD LIBOR + 7.00%), Maturing May 15, 2023			748	$	744,385

Penn Engineering & Manufacturing Corp.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing June 27, 2024			119		118,961

				$	863,346

Containers and Glass Products — 3.7%

Berlin Packaging, LLC

Term Loan, 5.43%, (USD LIBOR + 3.00%), Maturing November 7, 2025⁽⁴⁾			124	$	120,463

Berry Global, Inc.

Term Loan, 4.41%, (1 mo. USD LIBOR + 2.00%), Maturing October 1, 2022			384		382,170

Term Loan, Maturing May 15, 2026⁽⁵⁾	EUR		150		171,116

Term Loan, Maturing May 15, 2026⁽⁵⁾			450		447,648

BWAY Holding Company

Term Loan, 5.85%, (3 mo. USD LIBOR + 3.25%), Maturing April 3, 2024			1,206		1,167,234

Consolidated Container Company, LLC

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing May 22, 2024			172		169,795

Flex Acquisition Company, Inc.

Term Loan, 5.44%, (1 mo. USD LIBOR + 3.00%), Maturing December 29, 2023			1,579		1,503,958

Term Loan, 5.69%, (1 mo. USD LIBOR + 3.25%), Maturing June 29, 2025			689		655,876

Libbey Glass, Inc.

Term Loan, 5.41%, (1 mo. USD LIBOR + 3.00%), Maturing April 9, 2021			458		364,177

Pelican Products, Inc.

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing May 1, 2025			297		292,545

Reynolds Group Holdings, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing February 5, 2023			2,478		2,462,815

Ring Container Technologies Group, LLC

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing October 31, 2024			391		386,761

Trident TPI Holdings, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing October 17, 2024			370		350,971

Verallia Packaging S.A.S.

Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), Maturing October 29, 2022	EUR		655		744,815


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Containers and Glass Products (continued)

Verallia Packaging S.A.S. (continued)

Term Loan, 2.75%, (1 mo. EURIBOR + 2.75%), Maturing August 1, 2025	EUR		675	$	768,405

				$	9,988,749

Cosmetics / Toiletries — 0.3%

KIK Custom Products, Inc.

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing May 15, 2023			876	$	829,836

				$	829,836

Drugs — 5.6%

Albany Molecular Research, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing August 30, 2024			319	$	314,124

Alkermes, Inc.

Term Loan, 4.67%, (1 mo. USD LIBOR + 2.25%), Maturing March 23, 2023			188		187,014

Amneal Pharmaceuticals, LLC

Term Loan, 5.94%, (1 mo. USD LIBOR + 3.50%), Maturing May 4, 2025			1,658		1,650,250

Arbor Pharmaceuticals, Inc.

Term Loan, 7.33%, (3 mo. USD LIBOR + 5.00%), Maturing July 5, 2023			1,034		967,297

Bausch Health Companies, Inc.

Term Loan, 5.41%, (1 mo. USD LIBOR + 3.00%), Maturing June 2, 2025			2,765		2,766,485

Catalent Pharma Solutions, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing May 18, 2026			374		374,527

Endo Luxembourg Finance Company I S.a.r.l.

Term Loan, 6.69%, (1 mo. USD LIBOR + 4.25%), Maturing April 29, 2024			2,875		2,703,886

Horizon Pharma, Inc.

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing May 22, 2026			1,209		1,209,708

Jaguar Holding Company II

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing August 18, 2022			3,227		3,211,415

Mallinckrodt International Finance S.A.

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing September 24, 2024			1,298		1,169,979

Term Loan, 5.53%, (3 mo. USD LIBOR + 3.00%), Maturing February 24, 2025			270		243,104

				$	14,797,789


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Ecological Services and Equipment — 1.1%

Advanced Disposal Services, Inc.

Term Loan, 4.64%, (1 week USD LIBOR + 2.25%), Maturing November 10, 2023			943	$	943,065

EnergySolutions, LLC

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.75%), Maturing May 9, 2025			868		829,412

GFL Environmental, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing May 30, 2025			1,139		1,121,449

				$	2,893,926

Electronics / Electrical — 17.9%

Almonde, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing June 13, 2024			1,686	$	1,646,689

Applied Systems, Inc.

Term Loan, 5.33%, (3 mo. USD LIBOR + 3.00%), Maturing September 19, 2024			1,354		1,345,030

Term Loan - Second Lien, 9.33%, (3 mo. USD LIBOR + 7.00%), Maturing September 19, 2025			1,000		1,014,500

Aptean, Inc.

Term Loan, 6.58%, (3 mo. USD LIBOR + 4.25%), Maturing April 23, 2026			249		249,219

Term Loan - Second Lien, 10.83%, (3 mo. USD LIBOR + 8.50%), Maturing April 23, 2027			650		643,500

Avast Software B.V.

Term Loan, 4.58%, (3 mo. USD LIBOR + 2.25%), Maturing September 30, 2023			342		341,882

Banff Merger Sub, Inc.

Term Loan, 6.58%, (3 mo. USD LIBOR + 4.25%), Maturing October 2, 2025			1,517		1,442,455

Barracuda Networks, Inc.

Term Loan, 5.77%, (3 mo. USD LIBOR + 3.25%), Maturing February 12, 2025			1,141		1,142,015

Blackhawk Network Holdings, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing June 15, 2025			371		369,095

BMC Software Finance, Inc.

Term Loan, 4.75%, (3 mo. EURIBOR + 4.75%), Maturing October 2, 2025	EUR		124		138,819

Canyon Valor Companies, Inc.

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing June 16, 2023			794		788,934

Carbonite, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing March 26, 2026			203		203,302


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Electronics / Electrical (continued)

Celestica, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing June 27, 2025		149	$	146,265

Cohu, Inc.

Term Loan, 5.20%, (6 mo. USD LIBOR + 3.00%), Maturing September 20, 2025		347		336,085

CommScope, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing April 6, 2026		825		825,103

CPI International, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing July 26, 2024		319		316,918

Datto, Inc.

Term Loan, 6.58%, (3 mo. USD LIBOR + 4.25%), Maturing April 2, 2026		175		176,750

DigiCert, Inc.

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing October 31, 2024		2,032		2,028,457

Electro Rent Corporation

Term Loan, 7.58%, (3 mo. USD LIBOR + 5.00%), Maturing January 31, 2024		585		587,559

Energizer Holdings, Inc.

Term Loan, 4.75%, (1 mo. USD LIBOR + 2.25%), Maturing December 17, 2025		249		248,907

Epicor Software Corporation

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing June 1, 2022		2,129		2,117,301

Exact Merger Sub, LLC

Term Loan, 6.58%, (3 mo. USD LIBOR + 4.25%), Maturing September 27, 2024		295		294,750

EXC Holdings III Corp.

Term Loan, 5.83%, (3 mo. USD LIBOR + 3.50%), Maturing December 2, 2024		222		221,481

Financial & Risk US Holdings, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing October 1, 2025		572		555,779

Flexera Software, LLC

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing February 26, 2025		148		147,816

GlobalLogic Holdings, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing August 1, 2025		195		195,276

Hyland Software, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing July 1, 2024		1,534		1,531,307

Term Loan - Second Lien, 9.40%, (1 mo. USD LIBOR + 7.00%), Maturing July 7, 2025		1,456		1,467,245


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Electronics / Electrical (continued)

Infoblox, Inc.

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing November 7, 2023			887	$	888,575

Infor (US), Inc.

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing February 1, 2022			3,289		3,282,227

Informatica, LLC

Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing August 5, 2022	EUR		148		169,043

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing August 5, 2022			2,083		2,087,390

MA FinanceCo., LLC

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing November 19, 2021			1,323		1,311,828

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing June 21, 2024			222		218,092

MACOM Technology Solutions Holdings, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing May 17, 2024			580		522,486

Microchip Technology Incorporated

Term Loan, 4.41%, (1 mo. USD LIBOR + 2.00%), Maturing May 29, 2025			704		701,950

MKS Instruments, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing February 2, 2026			175		174,934

MTS Systems Corporation

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing July 5, 2023			527		527,128

Prometric Holdings, Inc.

Term Loan, 5.41%, (1 mo. USD LIBOR + 3.00%), Maturing January 29, 2025			148		147,203

Renaissance Holding Corp.

Term Loan, 5.73%, (2 mo. USD LIBOR + 3.25%), Maturing May 30, 2025			569		553,596

Term Loan - Second Lien, 9.48%, (2 mo. USD LIBOR + 7.00%), Maturing May 29, 2026			75		71,813

Seattle Spinco, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing June 21, 2024			1,499		1,472,832

SGS Cayman L.P.

Term Loan, 7.70%, (3 mo. USD LIBOR + 5.38%), Maturing April 23, 2021			188		185,854

SkillSoft Corporation

Term Loan, 7.15%, (1 mo. USD LIBOR + 4.75%), Maturing April 28, 2021			2,235		1,938,542

SolarWinds Holdings, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing February 5, 2024			911		907,328


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Electronics / Electrical (continued)

SS&C Technologies Holdings Europe S.a.r.l.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing April 16, 2025		571	$	569,155

SS&C Technologies, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing April 16, 2025		832		829,926

SurveyMonkey, Inc.

Term Loan, 6.14%, (1 week USD LIBOR + 3.75%), Maturing October 10, 2025		473		471,318

Sutherland Global Services, Inc.

Term Loan, 7.70%, (3 mo. USD LIBOR + 5.38%), Maturing April 23, 2021		806		798,417

Switch, Ltd.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing June 27, 2024		123		122,002

Tibco Software, Inc.

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing December 4, 2020		245		245,330

Term Loan, Maturing June 11, 2026⁽⁵⁾		325		325,880

TriTech Software Systems

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing August 29, 2025		398		393,896

TTM Technologies, Inc.

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing September 28, 2024		127		126,282

Uber Technologies

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing July 13, 2023		2,020		2,019,556

Term Loan, 6.41%, (1 mo. USD LIBOR + 4.00%), Maturing April 4, 2025		1,214		1,216,267

Ultimate Software Group, Inc. (The)

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.75%), Maturing May 4, 2026		775		777,228

Ultra Clean Holdings, Inc.

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing August 27, 2025		405		384,644

Verifone Systems, Inc.

Term Loan, 6.45%, (2 mo. USD LIBOR + 4.00%), Maturing August 20, 2025		125		122,500

Term Loan, 6.52%, (3 mo. USD LIBOR + 4.00%), Maturing August 20, 2025		448		435,437

Veritas Bermuda, Ltd.

Term Loan, 6.89%, (USD LIBOR + 4.50%), Maturing January 27, 2023⁽⁴⁾		1,037		943,422

Vero Parent, Inc.

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing August 16, 2024		1,204		1,201,147


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Electronics / Electrical (continued)

Wall Street Systems Delaware, Inc.

Term Loan, 5.65%, (6 mo. USD LIBOR + 3.00%), Maturing November 21, 2024			318	$	308,991

Western Digital Corporation

Term Loan, 4.15%, (1 mo. USD LIBOR + 1.75%), Maturing April 29, 2023			792		776,366

				$	47,751,024

Equipment Leasing — 0.1%

IBC Capital Limited

Term Loan, 6.15%, (3 mo. USD LIBOR + 3.75%), Maturing September 11, 2023			272	$	271,336

				$	271,336

Financial Intermediaries — 4.4%

Apollo Commercial Real Estate Finance, Inc.

Term Loan, 5.14%, (1 mo. USD LIBOR + 2.75%), Maturing May 15, 2026			200	$	198,745

Aretec Group, Inc.

Term Loan, 6.65%, (1 mo. USD LIBOR + 4.25%), Maturing October 1, 2025			1,619		1,588,272

Blackstone Mortgage Trust, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing April 23, 2026			175		175,875

Citco Funding, LLC

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing September 28, 2023			1,900		1,899,192

Ditech Holding Corporation

Term Loan, 0.00%, Maturing June 30, 2022⁽⁶⁾			1,397		509,789

Donnelley Financial Solutions, Inc.

Term Loan, 5.41%, (1 mo. USD LIBOR + 3.00%), Maturing October 2, 2023			57		56,786

EIG Management Company, LLC

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing February 22, 2025			123		123,900

Evergood 4 ApS

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing February 6, 2025	EUR		325		371,608

Focus Financial Partners, LLC

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing July 3, 2024			866		866,385

Franklin Square Holdings L.P.

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing August 1, 2025			248		248,745

Greenhill & Co., Inc.

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing April 12, 2024			525		524,125


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Financial Intermediaries (continued)

GreenSky Holdings, LLC

Term Loan, 5.69%, (1 mo. USD LIBOR + 3.25%), Maturing March 31, 2025			642	$	641,073

Guggenheim Partners, LLC

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing July 21, 2023			506		506,930

Harbourvest Partners, LLC

Term Loan, 4.75%, (2 mo. USD LIBOR + 2.25%), Maturing March 1, 2025			506		503,687

LPL Holdings, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing September 23, 2024			637		636,431

Ocwen Loan Servicing, LLC

Term Loan, 7.40%, (1 mo. USD LIBOR + 5.00%), Maturing December 4, 2020			133		133,126

Sesac Holdco II, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing February 23, 2024			269		263,884

StepStone Group L.P.

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing March 14, 2025			296		297,361

Victory Capital Holdings, Inc.

Term Loan, 7.25%, (USD Prime + 1.75%), Maturing February 12, 2025			136		136,196

Term Loan, Maturing July 1, 2026⁽⁵⁾			650		651,625

Virtus Investment Partners, Inc.

Term Loan, 4.75%, (3 mo. USD LIBOR + 2.25%), Maturing June 1, 2024			281		280,546

Walker & Dunlop, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing November 7, 2025			1,119		1,119,375

				$	11,733,656

Food Products — 4.3%

Alphabet Holding Company, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing September 26, 2024			1,130	$	1,069,497

Badger Buyer Corp.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing September 30, 2024			172		165,060

CHG PPC Parent, LLC

Term Loan, 4.00%, (1 mo. EURIBOR + 4.00%), Maturing March 30, 2025	EUR		1,375		1,581,102

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing March 31, 2025			223		221,494


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Food Products (continued)

Del Monte Foods, Inc.

Term Loan, 5.78%, (3 mo. USD LIBOR + 3.25%), Maturing February 18, 2021			823	$	585,750

Dole Food Company, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing April 6, 2024			784		766,703

Froneri International, Ltd.

Term Loan, 2.38%, (6 mo. EURIBOR + 2.38%), Maturing January 31, 2025	EUR		1,200		1,363,156

Hearthside Food Solutions, LLC

Term Loan, 6.09%, (1 mo. USD LIBOR + 3.69%), Maturing May 23, 2025			844		825,789

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing May 23, 2025			199		197,259

High Liner Foods Incorporated

Term Loan, 5.82%, (3 mo. USD LIBOR + 3.25%), Maturing April 24, 2021			364		344,150

HLF Financing S.a.r.l.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing August 18, 2025			496		496,560

Jacobs Douwe Egberts International B.V.

Term Loan, 2.50%, (3 mo. EURIBOR + 2.00%, Floor 0.50%), Maturing November 1, 2025	EUR		117		134,112

Term Loan, 4.50%, (1 mo. USD LIBOR + 2.00%), Maturing November 1, 2025			681		680,906

JBS USA Lux S.A.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing May 1, 2026			1,945		1,944,180

Nomad Foods Europe Midco Limited

Term Loan, 4.64%, (1 mo. USD LIBOR + 2.25%), Maturing May 15, 2024			566		560,773

Post Holdings, Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing May 24, 2024			476		474,609

Restaurant Technologies, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing October 1, 2025			100		99,438

				$	11,510,538

Food Service — 2.1%

1011778 B.C. Unlimited Liability Company

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing February 16, 2024			2,525	$	2,511,454

Del Frisco’s Restaurant Group, Inc.

Term Loan, 8.44%, (1 mo. USD LIBOR + 6.00%), Maturing June 27, 2025			272		272,931


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Food Service (continued)

Dhanani Group, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing July 20, 2025			571	$	552,193

IRB Holding Corp.

Term Loan, 5.64%, (1 mo. USD LIBOR + 3.25%), Maturing February 5, 2025			891		882,411

NPC International, Inc.

Term Loan, 5.94%, (1 mo. USD LIBOR + 3.50%), Maturing April 19, 2024			418		338,226

US Foods, Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing June 27, 2023			395		392,866

Welbilt, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing October 23, 2025			639		631,017

				$	5,581,098

Food / Drug Retailers — 1.3%

Albertsons, LLC

Term Loan, 5.31%, (3 mo. USD LIBOR + 3.00%), Maturing December 21, 2022			780	$	781,277

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing June 22, 2023			1,713		1,714,179

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing November 17, 2025			484		481,955

Diplomat Pharmacy, Inc.

Term Loan, 6.91%, (1 mo. USD LIBOR + 4.50%), Maturing December 20, 2024			220		202,400

Holland & Barrett International

Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), Maturing August 9, 2024	EUR		200		189,551

Term Loan, 6.02%, (3 mo. GBP LIBOR + 5.25%), Maturing September 2, 2024	GBP		200		209,928

				$	3,579,290

Health Care — 12.8%

Acadia Healthcare Company, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing February 11, 2022			117	$	116,267

Accelerated Health Systems, LLC

Term Loan, 5.92%, (1 mo. USD LIBOR + 3.50%), Maturing October 31, 2025			249		250,305

ADMI Corp.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing April 30, 2025			817		805,520


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Health Care (continued)

Akorn, Inc.

Term Loan, 9.44%, (1 mo. USD LIBOR + 7.00%), Maturing April 16, 2021			955	$	900,378

Alliance Healthcare Services, Inc.

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing October 24, 2023			385		371,525

Term Loan - Second Lien, 12.40%, (1 mo. USD LIBOR + 10.00%), Maturing April 24, 2024			225		223,312

Argon Medical Devices, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing January 23, 2025			420		419,818

athenahealth, Inc.

Term Loan, 7.05%, (3 mo. USD LIBOR + 4.50%), Maturing February 11, 2026			898		897,470

Avantor, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing November 21, 2024			229		229,488

BioClinica, Inc.

Term Loan, 6.81%, (3 mo. USD LIBOR + 4.25%), Maturing October 20, 2023			708		668,921

BW NHHC Holdco, Inc.

Term Loan, 7.40%, (1 mo. USD LIBOR + 5.00%), Maturing May 15, 2025			470		438,802

Carestream Dental Equipment, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing September 1, 2024			663		653,792

Certara L.P.

Term Loan, 5.83%, (3 mo. USD LIBOR + 3.50%), Maturing August 15, 2024			491		488,794

CHG Healthcare Services, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing June 7, 2023			1,507		1,502,276

Concentra, Inc.

Term Loan, 5.21%, (3 mo. USD LIBOR + 2.75%), Maturing June 1, 2022			377		377,964

Convatec, Inc.

Term Loan, 4.58%, (3 mo. USD LIBOR + 2.25%), Maturing October 31, 2023			268		268,125

CPI Holdco, LLC

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.50%), Maturing March 21, 2024			367		367,182

CryoLife, Inc.

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.25%), Maturing November 14, 2024			222		222,364

CTC AcquiCo GmbH

Term Loan, 2.50%, (3 mo. EURIBOR + 2.50%), Maturing March 7, 2025	EUR		390		436,796


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Health Care (continued)

DaVita, Inc.

Term Loan, 5.14%, (1 week USD LIBOR + 2.75%), Maturing June 24, 2021		758	$	758,382

Envision Healthcare Corporation

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing October 10, 2025		2,164		1,884,141

Equian, LLC

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing May 20, 2024		294		293,624

Gentiva Health Services, Inc.

Term Loan, 6.19%, (1 mo. USD LIBOR + 3.75%), Maturing July 2, 2025		1,145		1,147,164

GHX Ultimate Parent Corporation

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.25%), Maturing June 28, 2024		442		436,157

Greatbatch Ltd.

Term Loan, 5.42%, (1 mo. USD LIBOR + 3.00%), Maturing October 27, 2022		710		712,050

Grifols Worldwide Operations USA, Inc.

Term Loan, 4.64%, (1 week USD LIBOR + 2.25%), Maturing January 31, 2025		1,613		1,610,125

Hanger, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing March 6, 2025		494		494,367

Inovalon Holdings, Inc.

Term Loan, 5.94%, (1 mo. USD LIBOR + 3.50%), Maturing April 2, 2025		571		571,163

IQVIA, Inc.

Term Loan, 4.33%, (3 mo. USD LIBOR + 2.00%), Maturing March 7, 2024		313		313,489

Term Loan, 4.33%, (3 mo. USD LIBOR + 2.00%), Maturing January 17, 2025		467		466,604

Kinetic Concepts, Inc.

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.25%), Maturing February 2, 2024		1,274		1,277,185

Medical Solutions, LLC

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing June 9, 2024		369		369,202

MPH Acquisition Holdings, LLC

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing June 7, 2023		1,571		1,505,547

National Mentor Holdings, Inc.

Term Loan, 6.66%, (1 mo. USD LIBOR + 4.25%), Maturing March 9, 2026		13		13,237

Term Loan, 6.66%, (1 mo. USD LIBOR + 4.25%), Maturing March 9, 2026		211		212,589


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Health Care (continued)

Navicure, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing November 1, 2024		370	$	367,666

One Call Corporation

Term Loan, 7.64%, (1 mo. USD LIBOR + 5.25%), Maturing November 25, 2022		1,013		820,922

Ortho-Clinical Diagnostics S.A.

Term Loan, 5.68%, (1 mo. USD LIBOR + 3.25%), Maturing June 30, 2025		2,337		2,252,204

Parexel International Corporation

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing September 27, 2024		1,191		1,142,562

Phoenix Guarantor, Inc.

Term Loan, 6.92%, (1 mo. USD LIBOR + 4.50%), Maturing March 5, 2026		875		871,901

Press Ganey Holdings, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing October 23, 2023		366		365,568

Prospect Medical Holdings, Inc.

Term Loan, 7.94%, (1 mo. USD LIBOR + 5.50%), Maturing February 22, 2024		443		419,310

Radiology Partners Holdings, LLC

Term Loan, 7.36%, (USD LIBOR + 4.75%), Maturing July 9, 2025⁽⁴⁾		274		274,665

RadNet, Inc.

Term Loan, 6.11%, (3 mo. USD LIBOR + 3.50%), Maturing June 30, 2023		746		744,095

Select Medical Corporation

Term Loan, 4.85%, (3 mo. USD LIBOR + 2.50%), Maturing March 6, 2025		717		715,857

Sotera Health Holdings, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing May 15, 2022		411		406,396

Sound Inpatient Physicians

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing June 27, 2025		223		222,889

Surgery Center Holdings, Inc.

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing September 2, 2024		467		451,909

Team Health Holdings, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing February 6, 2024		1,350		1,189,374

Tecomet, Inc.

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing May 1, 2024		367		367,155

U.S. Anesthesia Partners, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing June 23, 2024		738		727,244


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Health Care (continued)

Verscend Holding Corp.

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing August 27, 2025			720	$	721,469

Viant Medical Holdings, Inc.

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.75%), Maturing July 2, 2025			223		222,824

Wink Holdco, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing December 2, 2024			222		217,470

				$	34,205,605

Home Furnishings — 0.8%

Bright Bidco B.V.

Term Loan, 5.85%, (USD LIBOR + 3.50%), Maturing June 30, 2024⁽⁴⁾			736	$	522,253

Serta Simmons Bedding, LLC

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing November 8, 2023			2,376		1,535,531

				$	2,057,784

Industrial Equipment — 5.9%

AI Alpine AT Bidco GmbH

Term Loan, 5.64%, (1 mo. USD LIBOR + 3.25%), Maturing October 31, 2025			100	$	98,132

Altra Industrial Motion Corp.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing October 1, 2025			332		326,119

Apex Tool Group, LLC

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing February 1, 2022			1,131		1,091,355

Carlisle Foodservice Products, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing March 20, 2025			124		119,286

Clark Equipment Company

Term Loan, 4.33%, (3 mo. USD LIBOR + 2.00%), Maturing May 18, 2024			651		647,114

Coherent Holding GmbH

Term Loan, 2.75%, (3 mo. EURIBOR + 2.00%, Floor 0.75%), Maturing November 7, 2023	EUR		328		375,460

CPM Holdings, Inc.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing November 15, 2025			149		147,758

Delachaux Group S.A.

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing March 28, 2026	EUR		175		201,018

Term Loan, 7.10%, (3 mo. USD LIBOR + 4.50%), Maturing March 28, 2026			225		223,875


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Industrial Equipment (continued)

DexKo Global, Inc.

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 24, 2024	EUR		148	$	167,862

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 24, 2024	EUR		369		419,657

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing July 24, 2024			392		390,848

DXP Enterprises, Inc.

Term Loan, 7.15%, (1 mo. USD LIBOR + 4.75%), Maturing August 29, 2023			246		246,239

Engineered Machinery Holdings, Inc.

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.25%), Maturing July 19, 2024			644		628,677

Term Loan, 6.58%, (3 mo. USD LIBOR + 4.25%), Maturing July 19, 2024			149		149,374

EWT Holdings III Corp.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing December 20, 2024			930		927,387

Filtration Group Corporation

Term Loan, 3.50%, (3 mo. EURIBOR + 3.50%), Maturing March 29, 2025	EUR		173		197,979

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing March 29, 2025			765		764,629

Gardner Denver, Inc.

Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), Maturing July 30, 2024	EUR		189		216,029

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing July 30, 2024			451		452,114

Gates Global, LLC

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing April 1, 2024	EUR		415		469,956

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing April 1, 2024			2,112		2,103,775

Hayward Industries, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing August 5, 2024			221		217,056

LTI Holdings, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing September 6, 2025			223		211,449

Milacron, LLC

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing September 28, 2023			1,209		1,178,575

Pro Mach Group, Inc.

Term Loan, 5.14%, (1 mo. USD LIBOR + 2.75%), Maturing March 7, 2025			123		119,040


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Industrial Equipment (continued)

Quimper AB

Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), Maturing February 13, 2026	EUR		39	$	44,902

Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), Maturing February 13, 2026	EUR		811		927,372

Robertshaw US Holding Corp.

Term Loan, 5.94%, (1 mo. USD LIBOR + 3.50%), Maturing February 28, 2025			469		433,883

Shape Technologies Group, Inc.

Term Loan, 5.49%, (3 mo. USD LIBOR + 3.00%), Maturing April 21, 2025			124		119,032

Tank Holding Corp.

Term Loan, 6.63%, (USD LIBOR + 4.00%), Maturing March 26, 2026⁽⁴⁾			225		225,387

Thermon Industries, Inc.

Term Loan, 6.19%, (1 mo. USD LIBOR + 3.75%), Maturing October 24, 2024			144		144,293

Titan Acquisition Limited

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing March 28, 2025			1,407		1,345,623

Wittur GmbH

Term Loan, 5.00%, (3 mo. EURIBOR + 4.00%, Floor 1.00%), Maturing March 31, 2022	EUR		450		515,746

				$	15,847,001

Insurance — 5.3%

Alliant Holdings Intermediate, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing May 9, 2025			1,134	$	1,103,969

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing May 9, 2025			225		222,413

AmWINS Group, Inc.

Term Loan, 5.16%, (1 mo. USD LIBOR + 2.75%), Maturing January 25, 2024			1,345		1,337,882

Asurion, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing August 4, 2022			2,135		2,132,108

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing November 3, 2023			988		987,529

Term Loan - Second Lien, 8.90%, (1 mo. USD LIBOR + 6.50%), Maturing August 4, 2025			1,800		1,827,751

Financiere CEP S.A.S.

Term Loan, 4.25%, (3 mo. EURIBOR + 4.25%), Maturing January 16, 2025	EUR		250		284,808

FrontDoor, Inc.

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing August 14, 2025			223		223,313


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Insurance (continued)

Hub International Limited

Term Loan, 5.59%, (3 mo. USD LIBOR + 3.00%), Maturing April 25, 2025			2,327	$	2,272,337

NFP Corp.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing January 8, 2024			1,627		1,583,912

Sedgwick Claims Management Services, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing December 31, 2025			572		565,331

USI, Inc.

Term Loan, 5.33%, (3 mo. USD LIBOR + 3.00%), Maturing May 16, 2024			1,625		1,587,281

				$	14,128,634

Leisure Goods / Activities / Movies — 5.8%

AMC Entertainment Holdings, Inc.

Term Loan, 5.23%, (6 mo. USD LIBOR + 3.00%), Maturing April 22, 2026			848	$	847,411

Amer Sports Oyj

Term Loan, 4.50%, (6 mo. EURIBOR + 4.50%), Maturing February 26, 2026	EUR		1,600		1,825,235

Ancestry.com Operations, Inc.

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing October 19, 2023			1,389		1,387,752

Bombardier Recreational Products, Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing May 23, 2025			2,077		2,051,472

CDS U.S. Intermediate Holdings, Inc.

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.75%), Maturing July 8, 2022			461		448,458

ClubCorp Holdings, Inc.

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing September 18, 2024			857		794,737

Crown Finance US, Inc.

Term Loan, 2.38%, (1 mo. EURIBOR + 2.38%), Maturing February 28, 2025	EUR		395		448,593

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing February 28, 2025			802		789,361

Delta 2 (LUX) S.a.r.l.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing February 1, 2024			747		731,468

Emerald Expositions Holding, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing May 22, 2024			520		512,388

Etraveli Holding AB

Term Loan, 4.50%, (3 mo. EURIBOR + 4.50%), Maturing August 2, 2024	EUR		375		427,692


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Leisure Goods / Activities / Movies (continued)

Lindblad Expeditions, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing March 27, 2025			174	$	174,906

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing March 27, 2025			696		699,625

Match Group, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing November 16, 2022			241		241,227

Sabre GLBL, Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing February 22, 2024			468		467,710

SeaWorld Parks & Entertainment, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing March 31, 2024			811		809,938

SRAM, LLC

Term Loan, 5.23%, (2 mo. USD LIBOR + 2.75%), Maturing March 15, 2024			651		650,961

Steinway Musical Instruments, Inc.

Term Loan, 6.14%, (1 mo. USD LIBOR + 3.75%), Maturing February 14, 2025			420		411,294

Travel Leaders Group, LLC

Term Loan, 6.38%, (1 mo. USD LIBOR + 4.00%), Maturing January 25, 2024			446		446,614

UFC Holdings, LLC

Term Loan, 5.66%, (1 mo. USD LIBOR + 3.25%), Maturing April 29, 2026			833		832,871

Vue International Bidco PLC

Term Loan, Maturing June 14, 2026⁽⁵⁾	EUR		297		338,946

Term Loan, Maturing June 18, 2026⁽⁵⁾	EUR		53		60,352

				$	15,399,011

Lodging and Casinos — 5.0%

Aimbridge Acquisition Co., Inc.

Term Loan, 6.19%, (1 mo. USD LIBOR + 3.75%), Maturing February 2, 2026			125	$	125,311

Aristocrat Technologies, Inc.

Term Loan, 4.34%, (3 mo. USD LIBOR + 1.75%), Maturing October 19, 2024			507		503,389

Azelis Finance S.A.

Term Loan, 4.00%, (1 mo. EURIBOR + 4.00%), Maturing November 7, 2025	EUR		900		1,033,112

Boyd Gaming Corporation

Term Loan, 4.62%, (1 week USD LIBOR + 2.25%), Maturing September 15, 2023			434		431,943

CityCenter Holdings, LLC

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing April 18, 2024			1,178		1,175,327


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Lodging and Casinos (continued)

Eldorado Resorts, LLC

Term Loan, 4.69%, (1 mo. USD LIBOR + 2.25%), Maturing April 17, 2024			396	$	395,481

ESH Hospitality, Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing August 30, 2023			544		542,743

Golden Nugget, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing October 4, 2023			1,964		1,950,600

GVC Holdings PLC

Term Loan, 2.50%, (1 mo. EURIBOR + 2.50%), Maturing March 29, 2024	EUR		600		682,473

Term Loan, 3.97%, (1 mo. GBP LIBOR + 3.25%), Maturing March 29, 2024	GBP		300		380,092

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing March 29, 2024			518		517,358

Hanjin International Corp.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing October 18, 2020			250		248,125

MGM Growth Properties Operating Partnership L.P.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing March 21, 2025			895		891,022

Playa Resorts Holding B.V.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing April 29, 2024			1,129		1,084,543

Stars Group Holdings B.V. (The)

Term Loan, 3.75%, (3 mo. EURIBOR + 3.75%), Maturing July 10, 2025	EUR		450		516,236

Term Loan, 5.83%, (3 mo. USD LIBOR + 3.50%), Maturing July 10, 2025			1,717		1,719,435

VICI Properties 1, LLC

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing December 20, 2024			1,026		1,016,410

				$	13,213,600

Nonferrous Metals / Minerals — 1.1%

CD&R Hydra Buyer, Inc.

Term Loan, 7.50%, (0.00% cash, 7.50% PIK), Maturing August 15, 2021⁽³⁾⁽⁷⁾			74	$	60,677

Dynacast International, LLC

Term Loan, 5.58%, (3 mo. USD LIBOR + 3.25%), Maturing January 28, 2022			580		561,987

Global Brass & Copper, Inc.

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing May 29, 2025			389		388,990


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Nonferrous Metals / Minerals (continued)

Murray Energy Corporation

Term Loan, 9.77%, (3 mo. USD LIBOR + 7.25%), Maturing October 17, 2022			922	$	638,392

Noranda Aluminum Acquisition Corporation

Term Loan, 0.00%, Maturing February 28, 2020⁽⁶⁾			449		1,966

Oxbow Carbon, LLC

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing January 4, 2023			662		665,225

Term Loan - Second Lien, 9.90%, (1 mo. USD LIBOR + 7.50%), Maturing January 4, 2024			210		210,525

Rain Carbon GmbH

Term Loan, 3.00%, (6 mo. EURIBOR + 3.00%), Maturing January 16, 2025	EUR		450		499,223

				$	3,026,985

Oil and Gas — 3.6%

Ameriforge Group, Inc.

Term Loan, 9.33%, (3 mo. USD LIBOR + 7.00%), Maturing June 8, 2022			333	$	331,495

Apergy Corporation

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing May 9, 2025			135		134,687

Blackstone CQP Holdco L.P.

Term Loan, 5.89%, (3 mo. USD LIBOR + 3.50%), Maturing September 30, 2024			475		476,187

Centurion Pipeline Company, LLC

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing September 29, 2025			124		124,686

CITGO Petroleum Corporation

Term Loan, 7.10%, (3 mo. USD LIBOR + 4.50%), Maturing July 29, 2021			454		453,909

Term Loan, 7.60%, (3 mo. USD LIBOR + 5.00%), Maturing March 22, 2024			1,450		1,452,719

Delek US Holdings, Inc.

Term Loan, 4.58%, (3 mo. USD LIBOR + 2.25%), Maturing March 31, 2025			273		269,836

Equitrans Midstream Corporation

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing January 31, 2024			896		903,895

Fieldwood Energy, LLC

Term Loan, 7.65%, (1 mo. USD LIBOR + 5.25%), Maturing April 11, 2022			1,338		1,247,036

Matador Bidco S.a.r.l.

Term Loan, Maturing June 12, 2026⁽⁵⁾			275		274,914

McDermott Technology Americas, Inc.

Term Loan, 7.40%, (1 mo. USD LIBOR + 5.00%), Maturing May 9, 2025			593		583,551


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Oil and Gas (continued)

MEG Energy Corp.

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing December 31, 2023		575	$	575,475

Prairie ECI Acquiror L.P.

Term Loan, 7.08%, (3 mo. USD LIBOR + 4.75%), Maturing March 11, 2026		1,147		1,149,993

PSC Industrial Holdings Corp.

Term Loan, 6.14%, (1 mo. USD LIBOR + 3.75%), Maturing October 3, 2024		345		344,247

Sheridan Investment Partners II, L.P.

Term Loan, 0.00%, Maturing December 16, 2020⁽⁶⁾		17		10,401

Term Loan, 0.00%, Maturing December 16, 2020⁽⁶⁾		44		27,888

Term Loan, 0.00%, Maturing December 16, 2020⁽⁶⁾		318		200,481

Sheridan Production Partners I, LLC

Term Loan, 5.98%, (3 mo. USD LIBOR + 3.50%), Maturing October 1, 2019		57		40,458

Term Loan, 5.98%, (3 mo. USD LIBOR + 3.50%), Maturing October 1, 2019		93		66,238

Term Loan, 5.98%, (3 mo. USD LIBOR + 3.50%), Maturing October 1, 2019		699		499,877

Ultra Resources, Inc.

Term Loan, 6.40%, (6.15% cash (1 mo. USD LIBOR + 3.75%), 0.25% PIK), Maturing April 12, 2024		699		541,498

			$	9,709,471

Publishing — 1.2%

Ascend Learning, LLC

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing July 12, 2024		540	$	532,607

Getty Images, Inc.

Term Loan, 6.94%, (1 mo. USD LIBOR + 4.50%), Maturing February 19, 2026		796		794,010

Harland Clarke Holdings Corp.

Term Loan, 7.08%, (3 mo. USD LIBOR + 4.75%), Maturing November 3, 2023		382		323,493

LSC Communications, Inc.

Term Loan, 7.87%, (1 week USD LIBOR + 5.50%), Maturing September 30, 2022		421		414,042

Multi Color Corporation

Term Loan, 6.50%, (USD Prime + 1.00%), Maturing October 31, 2024		148		147,996

ProQuest, LLC

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing October 24, 2021		790		789,201

Tweddle Group, Inc.

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing September 17, 2023		107		101,381

			$	3,102,730


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Radio and Television — 2.6%

ALM Media Holdings, Inc.

Term Loan, 6.83%, (3 mo. USD LIBOR + 4.50%), Maturing July 31, 2020		196	$	180,566

Cumulus Media New Holdings, Inc.

Term Loan, 6.91%, (1 mo. USD LIBOR + 4.50%), Maturing May 15, 2022		724		721,743

E.W. Scripps Company (The)

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing May 1, 2026		150		149,531

Entercom Media Corp.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing November 18, 2024		495		495,199

Entravision Communications Corporation

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing November 29, 2024		428		413,322

Gray Television, Inc.

Term Loan, 4.68%, (1 mo. USD LIBOR + 2.25%), Maturing February 7, 2024		116		115,576

Term Loan, 4.93%, (1 mo. USD LIBOR + 2.50%), Maturing January 2, 2026		323		323,202

Hubbard Radio, LLC

Term Loan, 5.91%, (1 mo. USD LIBOR + 3.50%), Maturing March 28, 2025		291		290,701

iHeartCommunications, Inc.

Term Loan, 6.58%, (3 mo. USD LIBOR + 4.00%), Maturing May 1, 2026		1,273		1,275,767

Mission Broadcasting, Inc.

Term Loan, 4.69%, (1 mo. USD LIBOR + 2.25%), Maturing January 17, 2024		158		157,061

Nexstar Broadcasting, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing January 17, 2024		790		786,448

Term Loan, Maturing June 20, 2026⁽⁵⁾		250		249,427

Sinclair Television Group, Inc.

Term Loan, 4.66%, (1 mo. USD LIBOR + 2.25%), Maturing January 3, 2024		258		255,506

Univision Communications, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing March 15, 2024		1,698		1,619,282

			$	7,033,331

Retailers (Except Food and Drug) — 2.8%

Ascena Retail Group, Inc.

Term Loan, 6.94%, (1 mo. USD LIBOR + 4.50%), Maturing August 21, 2022		1,047	$	690,200


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Retailers (Except Food and Drug) (continued)

Bass Pro Group, LLC

Term Loan, 7.40%, (1 mo. USD LIBOR + 5.00%), Maturing September 25, 2024		614	$	587,769

BJ’s Wholesale Club, Inc.

Term Loan, 5.16%, (1 mo. USD LIBOR + 2.75%), Maturing February 3, 2024		437		438,169

Coinamatic Canada, Inc.

Term Loan, 5.65%, (1 mo. USD LIBOR + 3.25%), Maturing May 14, 2022		21		21,393

David’s Bridal, Inc.

Term Loan, 9.89%, (1 mo. USD LIBOR + 7.50%), Maturing July 17, 2023		128		129,318

Term Loan, 10.39%, (1 mo. USD LIBOR + 8.00%), Maturing January 18, 2024		487		384,355

Global Appliance, Inc.

Term Loan, 6.41%, (1 mo. USD LIBOR + 4.00%), Maturing September 29, 2024		451		448,347

Hoya Midco, LLC

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing June 30, 2024		975		965,458

J. Crew Group, Inc.

Term Loan, 5.42%, (USD LIBOR + 3.00%), Maturing March 5, 2021⁽³⁾⁽⁴⁾		1,394		1,070,622

LSF9 Atlantis Holdings, LLC

Term Loan, 8.42%, (1 mo. USD LIBOR + 6.00%), Maturing May 1, 2023		451		421,919

PetSmart, Inc.

Term Loan, 6.67%, (1 mo. USD LIBOR + 4.25%), Maturing March 11, 2022		1,644		1,599,521

PFS Holding Corporation

Term Loan, 5.92%, (1 mo. USD LIBOR + 3.50%), Maturing January 31, 2021		1,029		401,192

Pier 1 Imports (U.S.), Inc.

Term Loan, 5.70%, (6 mo. USD LIBOR + 3.50%), Maturing April 30, 2021		238		97,375

Radio Systems Corporation

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing May 2, 2024		196		194,285

			$	7,449,923

Steel — 1.1%

Atkore International, Inc.

Term Loan, 5.07%, (3 mo. USD LIBOR + 2.75%), Maturing December 22, 2023		655	$	652,894

GrafTech Finance, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing February 12, 2025		1,218		1,198,847


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Steel (continued)

Neenah Foundry Company

Term Loan, 8.91%, (2 mo. USD LIBOR + 6.50%), Maturing December 13, 2022		346	$	342,644

Phoenix Services International, LLC

Term Loan, 6.16%, (1 mo. USD LIBOR + 3.75%), Maturing March 1, 2025		395		395,095

Zekelman Industries, Inc.

Term Loan, 4.65%, (1 mo. USD LIBOR + 2.25%), Maturing June 14, 2021		336		335,656

			$	2,925,136

Surface Transport — 0.8%

1199169 B.C. Unlimited Liability Company

Term Loan, 6.33%, (3 mo. USD LIBOR + 4.00%), Maturing April 6, 2026		131	$	131,836

Agro Merchants NAI Holdings, LLC

Term Loan, 6.08%, (3 mo. USD LIBOR + 3.75%), Maturing December 6, 2024		172		171,801

Hertz Corporation (The)

Term Loan, 5.16%, (1 mo. USD LIBOR + 2.75%), Maturing June 30, 2023		476		475,258

Kenan Advantage Group, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing July 31, 2022		54		51,955

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing July 31, 2022		177		170,848

PODS, LLC

Term Loan, 5.16%, (1 mo. USD LIBOR + 2.75%), Maturing December 6, 2024		270		266,699

Stena International S.a.r.l.

Term Loan, 5.33%, (3 mo. USD LIBOR + 3.00%), Maturing March 3, 2021		711		696,413

XPO Logistics, Inc.

Term Loan, 4.40%, (1 mo. USD LIBOR + 2.00%), Maturing February 24, 2025		275		273,187

			$	2,237,997

Telecommunications — 6.0%

CenturyLink, Inc.

Term Loan, 5.15%, (1 mo. USD LIBOR + 2.75%), Maturing January 31, 2025		2,438	$	2,383,783

Colorado Buyer, Inc.

Term Loan, 5.42%, (1 mo. USD LIBOR + 3.00%), Maturing May 1, 2024		392		366,275


Borrower/Tranche Description		Principal Amount* (000’s omitted)		Value

Telecommunications (continued)

Digicel International Finance Limited

Term Loan, 5.78%, (3 mo. USD LIBOR + 3.25%), Maturing May 28, 2024			860	$	752,229

eircom Finco S.a.r.l.

Term Loan, 3.00%, (1 mo. EURIBOR + 3.00%), Maturing April 19, 2024	EUR		695		791,628

Term Loan, 3.00%, (3 mo. EURIBOR + 3.00%), Maturing April 23, 2026	EUR		250		284,697

Term Loan, Maturing May 15, 2026⁽⁵⁾	EUR		350		398,625

Frontier Communications Corp.

Term Loan, 6.16%, (1 mo. USD LIBOR + 3.75%), Maturing June 15, 2024			907		891,014

Gamma Infrastructure III B.V.

Term Loan, 3.50%, (6 mo. EURIBOR + 3.50%), Maturing January 9, 2025	EUR		750		843,941

Global Eagle Entertainment, Inc.

Term Loan, 10.35%, (6 mo. USD LIBOR + 7.50%), Maturing January 6, 2023			966		925,211

Intelsat Jackson Holdings S.A.

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing November 27, 2023			1,150		1,138,859

Term Loan, 6.90%, (1 mo. USD LIBOR + 4.50%), Maturing January 2, 2024			850		854,887

IPC Corp.

Term Loan, 7.09%, (3 mo. USD LIBOR + 4.50%), Maturing August 6, 2021			557		481,691

Onvoy, LLC

Term Loan, 6.83%, (3 mo. USD LIBOR + 4.50%), Maturing February 10, 2024			831		693,781

Plantronics, Inc.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing July 2, 2025			597		594,781

Sprint Communications, Inc.

Term Loan, 4.94%, (1 mo. USD LIBOR + 2.50%), Maturing February 2, 2024			1,637		1,615,482

Term Loan, 5.44%, (1 mo. USD LIBOR + 3.00%), Maturing February 2, 2024			373		370,324

Syniverse Holdings, Inc.

Term Loan, 7.40%, (1 mo. USD LIBOR + 5.00%), Maturing March 9, 2023			469		434,860

Telesat Canada

Term Loan, 4.83%, (3 mo. USD LIBOR + 2.50%), Maturing November 17, 2023			2,187		2,165,640

				$	15,987,708


Borrower/Tranche Description	Principal Amount* (000’s omitted)		Value

Utilities — 2.9%

Brookfield WEC Holdings, Inc.

Term Loan, 5.90%, (1 mo. USD LIBOR + 3.50%), Maturing August 1, 2025		1,070	$	1,070,294

Calpine Construction Finance Company L.P.

Term Loan, 4.90%, (1 mo. USD LIBOR + 2.50%), Maturing January 15, 2025		439		436,224

Calpine Corporation

Term Loan, 4.83%, (3 mo. USD LIBOR + 2.50%), Maturing January 15, 2024		1,488		1,482,512

Term Loan, 5.08%, (3 mo. USD LIBOR + 2.75%), Maturing April 5, 2026		425		424,734

Granite Acquisition, Inc.

Term Loan, 5.83%, (3 mo. USD LIBOR + 3.50%), Maturing December 19, 2021		53		53,146

Term Loan, 6.09%, (3 mo. USD LIBOR + 3.50%), Maturing December 19, 2021		1,172		1,174,038

Lightstone Holdco, LLC

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing January 30, 2024		38		37,637

Term Loan, 6.15%, (1 mo. USD LIBOR + 3.75%), Maturing January 30, 2024		675		667,308

Longview Power, LLC

Term Loan, 8.59%, (3 mo. USD LIBOR + 6.00%), Maturing April 13, 2021		1,320		1,158,300

Talen Energy Supply, LLC

Term Loan, Maturing June 28, 2026⁽⁵⁾		350		346,500

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing April 15, 2024		448		448,785

Term Loan, 6.40%, (1 mo. USD LIBOR + 4.00%), Maturing April 15, 2024		340		339,712

USIC Holdings, Inc.

Term Loan, 5.40%, (1 mo. USD LIBOR + 3.00%), Maturing December 8, 2023		99		98,004

			$	7,737,194

Total Senior Floating-Rate Loans (identified cost $371,795,292)			$	359,674,557

Corporate Bonds & Notes — 11.8%
Security	Principal Amount* (000’s omitted)		Value

Aerospace and Defense — 0.4%

Huntington Ingalls Industries, Inc.

5.00%, 11/15/25⁽⁸⁾		5	$	5,187


Security	Principal Amount* (000’s omitted)		Value

Aerospace and Defense (continued)

TransDigm, Inc.

6.50%, 7/15/24		447	$	454,264

6.25%, 3/15/26⁽⁸⁾		175		183,531

7.50%, 3/15/27⁽⁸⁾		447		467,674

			$	1,110,656

Automotive — 0.3%

Navistar International Corp.

6.625%, 11/1/25⁽⁸⁾		269	$	283,123

Panther BF Aggregator 2 L.P./Panther Finance Co., Inc.

8.50%, 5/15/27⁽⁸⁾		417		430,552

			$	713,675

Building and Development — 0.0%⁽⁹⁾

Builders FirstSource, Inc.

5.625%, 9/1/24⁽⁸⁾		3	$	3,103

Hillman Group, Inc. (The)

6.375%, 7/15/22⁽⁸⁾		18		16,020

Reliance Intermediate Holdings, L.P.

6.50%, 4/1/23⁽⁸⁾		50		51,750

Standard Industries, Inc.

6.00%, 10/15/25⁽⁸⁾		30		31,988

			$	102,861

Business Equipment and Services — 0.5%

EIG Investors Corp.

10.875%, 2/1/24		417	$	444,105

First Data Corp.

5.00%, 1/15/24⁽⁸⁾		10		10,251

Prime Security Services Borrower, LLC/Prime Finance, Inc.

5.25%, 4/15/24⁽⁸⁾		325		331,500

5.75%, 4/15/26⁽⁸⁾		325		336,375

ServiceMaster Co., LLC (The)

7.45%, 8/15/27		187		201,259

Solera, LLC/Solera Finance, Inc.

10.50%, 3/1/24⁽⁸⁾		10		10,862

			$	1,334,352

Cable and Satellite Television — 0.5%

Altice France S.A.

8.125%, 2/1/27⁽⁸⁾		417	$	438,893

Cablevision Systems Corp.

5.875%, 9/15/22		5		5,306


Security	Principal Amount* (000’s omitted)		Value

Cable and Satellite Television (continued)

CCO Holdings, LLC/CCO Holdings Capital Corp.

5.25%, 9/30/22		13	$	13,221

5.75%, 1/15/24		5		5,124

5.375%, 5/1/25⁽⁸⁾		40		41,450

5.75%, 2/15/26⁽⁸⁾		20		21,025

5.50%, 5/1/26⁽⁸⁾		417		437,454

CSC Holdings, LLC

5.25%, 6/1/24		5		5,206

DISH DBS Corp.

6.75%, 6/1/21		5		5,263

5.875%, 7/15/22		427		435,006

			$	1,407,948

Chemicals and Plastics — 0.4%

Chemours Co. (The)

7.00%, 5/15/25		417	$	436,807

Hexion, Inc.

6.625%, 4/15/20⁽⁶⁾		900		702,000

W.R. Grace & Co.

5.125%, 10/1/21⁽⁸⁾		15		15,637

5.625%, 10/1/24⁽⁸⁾		5		5,413

			$	1,159,857

Commercial Services — 0.2%

Allied Universal Holdco, LLC

6.625%, 7/15/26^(8)(10)		417	$	424,819

			$	424,819

Conglomerates — 0.0%⁽⁹⁾

Spectrum Brands, Inc.

6.625%, 11/15/22		10	$	10,265

5.75%, 7/15/25		30		31,312

			$	41,577

Consumer Products — 0.0%⁽⁹⁾

Central Garden & Pet Co.

6.125%, 11/15/23		15	$	15,638

			$	15,638

Containers and Glass Products — 1.1%

Berry Global, Inc.

6.00%, 10/15/22		10	$	10,225


Security	Principal Amount* (000’s omitted)		Value

Containers and Glass Products (continued)

Owens-Brockway Glass Container, Inc.

5.875%, 8/15/23⁽⁸⁾		15	$	16,235

6.375%, 8/15/25⁽⁸⁾		5		5,475

Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC

5.75%, 10/15/20		1,914		1,921,165

6.097%, (3 mo. USD LIBOR + 3.50%) 7/15/21^(8)(11)		450		451,125

7.00%, 7/15/24⁽⁸⁾		417		431,968

			$	2,836,193

Drugs — 0.9%

Bausch Health Companies, Inc.

6.50%, 3/15/22⁽⁸⁾		404	$	419,150

7.00%, 3/15/24⁽⁸⁾		525		559,178

5.50%, 11/1/25⁽⁸⁾		850		889,312

7.00%, 1/15/28⁽⁸⁾		417		433,159

Jaguar Holding Co. II/Pharmaceutical Product Development, LLC

6.375%, 8/1/23⁽⁸⁾		30		31,125

			$	2,331,924

Ecological Services and Equipment — 0.2%

Clean Harbors, Inc.

5.125%, 6/1/21		30	$	30,075

Covanta Holding Corp.

5.875%, 3/1/24		10		10,325

GFL Environmental, Inc.

8.50%, 5/1/27⁽⁸⁾		417		449,839

			$	490,239

Electronics / Electrical — 0.2%

CommScope, Inc.

6.00%, 3/1/26⁽⁸⁾		450	$	463,500

Infor (US), Inc.

6.50%, 5/15/22		25		25,534

			$	489,034

Entertainment — 0.2%

Merlin Entertainments PLC

5.75%, 6/15/26⁽⁸⁾		417	$	440,456

			$	440,456


Security		Principal Amount* (000’s omitted)		Value

Financial Intermediaries — 0.2%

Icahn Enterprises, L.P./Icahn Enterprises Finance Corp.

6.25%, 2/1/22			15	$	15,450

6.25%, 5/15/26⁽⁸⁾			417		422,734

JPMorgan Chase & Co.

Series S, 6.75% to 2/1/24 ^(12)(13)			35		38,708

Navient Corp.

5.00%, 10/26/20			10		10,225

				$	487,117

Food Products — 0.4%

Dole Food Co., Inc.

7.25%, 6/15/25⁽⁸⁾			417	$	405,533

Iceland Bondco PLC

5.071%, (3 mo. GBP LIBOR + 4.25%), 7/15/20^(8)(11)	GBP		105		133,511

Post Holdings, Inc.

8.00%, 7/15/25⁽⁸⁾			5		5,375

5.625%, 1/15/28⁽⁸⁾			417		430,031

				$	974,450

Food Service — 0.0%⁽⁹⁾

1011778 B.C. Unlimited Liability Company/New Red Finance, Inc.

4.625%, 1/15/22⁽⁸⁾			25	$	25,062

				$	25,062

Food / Drug Retailers — 0.1%

Fresh Market, Inc. (The)

9.75%, 5/1/23⁽⁸⁾			575	$	393,875

				$	393,875

Health Care — 1.5%

Avantor, Inc.

6.00%, 10/1/24⁽⁸⁾			675	$	719,887

Centene Corp.

4.75%, 5/15/22			10		10,250

CHS/Community Health Systems, Inc.

6.25%, 3/31/23			725		700,531

Eagle Holding Co. II, LLC

7.75%, (7.75% cash or 8.50% PIK), 5/15/22^(8)(14)			417		421,170

HCA Healthcare, Inc.

6.25%, 2/15/21			40		42,000

HCA, Inc.

6.50%, 2/15/20			10		10,231

5.875%, 2/15/26			10		11,075

5.375%, 9/1/26			417		450,360


Security	Principal Amount* (000’s omitted)		Value

Health Care (continued)

Hologic, Inc.

4.375%, 10/15/25⁽⁸⁾		10	$	10,188

Polaris Intermediate Corp.

8.50%, (8.50% cash or 9.25% PIK), 12/1/22^(8)(14)		417		370,087

RegionalCare Hospital Partners Holdings, Inc.

8.25%, 5/1/23⁽⁸⁾		850		905,250

Syneos Health, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc.

7.50%, 10/1/24⁽⁸⁾		9		9,450

Teleflex, Inc.

5.25%, 6/15/24		10		10,284

Tenet Healthcare Corp.

6.00%, 10/1/20		20		20,700

4.375%, 10/1/21		300		306,000

8.125%, 4/1/22		20		21,075

6.75%, 6/15/23		5		5,038

			$	4,023,576

Insurance — 0.2%

Alliant Holdings Intermediate, LLC/Alliant Holdings Co-Issuer

8.25%, 8/1/23⁽⁸⁾		20	$	20,594

AssuredPartners, Inc.

7.00%, 8/15/25⁽⁸⁾		417		416,479

			$	437,073

Internet Software & Services — 0.0%⁽⁹⁾

Netflix, Inc.

5.50%, 2/15/22		20	$	21,100

5.875%, 2/15/25		20		22,100

Riverbed Technology, Inc.

8.875%, 3/1/23⁽⁸⁾		11		7,397

			$	50,597

Leisure Goods / Activities / Movies — 0.5%

Mattel, Inc.

6.75%, 12/31/25⁽⁸⁾		417	$	430,031

National CineMedia, LLC

6.00%, 4/15/22		350		354,375

Sabre GLBL, Inc.

5.375%, 4/15/23⁽⁸⁾		10		10,275

5.25%, 11/15/23⁽⁸⁾		20		20,700


Security	Principal Amount* (000’s omitted)		Value

Leisure Goods / Activities / Movies (continued)

Viking Cruises, Ltd.

6.25%, 5/15/25⁽⁸⁾		20	$	20,700

5.875%, 9/15/27⁽⁸⁾		417		423,255

			$	1,259,336

Lodging and Casinos — 0.7%

Caesars Resort Collection, LLC/CRC Finco, Inc.

5.25%, 10/15/25⁽⁸⁾		417	$	418,043

ESH Hospitality, Inc.

5.25%, 5/1/25⁽⁸⁾		15		15,413

GLP Capital, L.P./GLP Financing II, Inc.

4.875%, 11/1/20		35		35,695

Golden Nugget, Inc.

8.75%, 10/1/25⁽⁸⁾		417		438,892

MGM Growth Properties Operating Partnership, L.P./ MGP Finance Co-Issuer, Inc.

5.625%, 5/1/24		5		5,406

MGM Resorts International

6.625%, 12/15/21		40		43,300

7.75%, 3/15/22		15		16,763

RHP Hotel Properties, L.P./RHP Finance Corp.

5.00%, 4/15/23		15		15,281

Stars Group Holdings B.V./Stars Group US Co-Borrower, LLC

7.00%, 7/15/26⁽⁸⁾		417		442,020

Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp.

5.25%, 5/15/27⁽⁸⁾		417		419,085

			$	1,849,898

Nonferrous Metals / Minerals — 0.0%⁽⁹⁾

New Gold, Inc.

6.25%, 11/15/22⁽⁸⁾		5	$	4,688

			$	4,688

Oil and Gas — 1.2%

Antero Resources Corp.

5.375%, 11/1/21		40	$	39,650

5.625%, 6/1/23		5		4,850

Ascent Resources Utica Holdings, LLC/ARU Finance Corp.

10.00%, 4/1/22⁽⁸⁾		417		443,542

Centennial Resource Production, LLC

6.875%, 4/1/27⁽⁸⁾		417		423,255

CITGO Petroleum Corp.

6.25%, 8/15/22⁽⁸⁾		325		326,219


Security	Principal Amount* (000’s omitted)		Value

Oil and Gas (continued)

CVR Refining, LLC/Coffeyville Finance, Inc.

6.50%, 11/1/22		60	$	61,245

Energy Transfer Operating, L.P.

5.875%, 1/15/24		15		16,683

Gulfport Energy Corp.

6.625%, 5/1/23		15		12,975

Hilcorp Energy I, L.P./Hilcorp Finance Co.

6.25%, 11/1/28⁽⁸⁾		417		421,691

Neptune Energy Bondco PLC

6.625%, 5/15/25⁽⁸⁾		463		472,260

Newfield Exploration Co.

5.625%, 7/1/24		65		72,074

Parsley Energy, LLC/Parsley Finance Corp.

5.25%, 8/15/25⁽⁸⁾		5		5,100

PBF Logistics, L.P./PBF Logistics Finance Corp.

6.875%, 5/15/23		20		20,725

Precision Drilling Corp.

6.50%, 12/15/21		568		572,305

Seven Generations Energy, Ltd.

6.75%, 5/1/23⁽⁸⁾		25		25,563

6.875%, 6/30/23⁽⁸⁾		15		15,281

Tervita Escrow Corp.

7.625%, 12/1/21⁽⁸⁾		240		245,330

Williams Cos., Inc. (The)

4.55%, 6/24/24		5		5,388

			$	3,184,136

Publishing — 0.0%⁽⁹⁾

Tribune Media Co.

5.875%, 7/15/22		20	$	20,448

			$	20,448

Radio and Television — 0.2%

Clear Channel Worldwide Holdings, Inc.

Series A, 6.50%, 11/15/22		25	$	25,687

Series B, 6.50%, 11/15/22		50		51,125

iHeartCommunications, Inc.

6.375%, 5/1/26		102		109,084

8.375%, 5/1/27		185		195,166

Nielsen Co. Luxembourg S.a.r.l. (The)

5.50%, 10/1/21⁽⁸⁾		15		15,094

Sirius XM Radio, Inc.

6.00%, 7/15/24⁽⁸⁾		40		41,260


Security	Principal Amount* (000’s omitted)		Value

Radio and Television (continued)

Univision Communications, Inc.

6.75%, 9/15/22⁽⁸⁾		124	$	126,558

			$	563,974

Retailers (Except Food and Drug) — 0.2%

Murphy Oil USA, Inc.

6.00%, 8/15/23		60	$	61,875

Party City Holdings, Inc.

6.125%, 8/15/23⁽⁸⁾		25		25,250

6.625%, 8/1/26⁽⁸⁾		417		405,532

			$	492,657

Road & Rail — 0.0%⁽⁹⁾

Watco Cos., LLC/Watco Finance Corp.

6.375%, 4/1/23⁽⁸⁾		20	$	20,400

			$	20,400

Software and Services — 0.0%⁽⁹⁾

IHS Markit, Ltd.

5.00%, 11/1/22⁽⁸⁾		25	$	26,612

			$	26,612

Steel — 0.2%

Allegheny Technologies, Inc.

7.875%, 8/15/23		463	$	497,864

			$	497,864

Surface Transport — 0.2%

DAE Funding, LLC

5.00%, 8/1/24⁽⁸⁾		417	$	435,244

XPO Logistics, Inc.

6.50%, 6/15/22⁽⁸⁾		22		22,495

			$	457,739

Telecommunications — 1.0%

CenturyLink, Inc.

6.75%, 12/1/23		15	$	16,219

CommScope Technologies, LLC

6.00%, 6/15/25⁽⁸⁾		20		18,844

5.00%, 3/15/27⁽⁸⁾		417		364,875

Digicel International Finance, Ltd./Digicel Holdings Bermuda, Ltd.

8.75%, 5/25/24⁽⁸⁾		275		262,625


Security		Principal Amount* (000’s omitted)		Value

Telecommunications (continued)

Frontier Communications Corp.

7.625%, 4/15/24			10	$	5,725

6.875%, 1/15/25			20		11,300

Hughes Satellite Systems Corp.

6.625%, 8/1/26			417		439,414

Intelsat Jackson Holdings S.A.

5.50%, 8/1/23			10		9,175

8.50%, 10/15/24⁽⁸⁾			213		211,935

Level 3 Financing, Inc.

5.375%, 1/15/24			10		10,238

Sprint Communications, Inc.

7.00%, 8/15/20			76		78,945

6.00%, 11/15/22			5		5,225

Sprint Corp.

7.25%, 9/15/21			110		117,150

7.875%, 9/15/23			644		701,960

7.625%, 2/15/25			154		164,202

T-Mobile USA, Inc.

6.375%, 3/1/25			15		15,615

6.50%, 1/15/26			45		48,760

Wind Tre SpA

2.75%, (3 mo. EURIBOR + 2.75%) 1/20/24^(8)(11)	EUR		275		309,204

				$	2,791,411

Utilities — 0.3%

Calpine Corp.

5.25%, 6/1/26⁽⁸⁾			917	$	936,486

Vistra Energy Corp.

8.125%, 1/30/26⁽⁸⁾			10		10,800

				$	947,286

Total Corporate Bonds & Notes (identified cost $31,516,974)				$	31,407,428

Asset-Backed Securities — 3.4%
Security		Principal Amount (000’s omitted)		Value

Ares XXXIIR CLO, Ltd.

Series 2014-32RA, Class D, 8.368%, (3 mo. USD LIBOR + 5.85%), 5/15/30^(8)(11)		$	1,000	$	941,917

Benefit Street Partners CLO XVII, Ltd.

Series 2019-17A, Class E, 8.93%, (3 mo. USD LIBOR + 6.60%), 7/15/32^(8)(11)			500		496,358


Security	Principal Amount (000’s omitted)		Value

BlueMountain CLO XXV, Ltd.

Series 2019-25A, Class E, 8.986%, (3 mo. USD LIBOR + 6.70%), 7/15/32^(8)(11)	$	500	$	500,625

Carlyle Global Market Strategies CLO, Ltd.

Series 2012-3A, Class DR2, 9.097%, (3 mo. USD LIBOR + 6.50%), 1/14/32^(8)(11)		600		586,046

Series 2015-5A, Class DR, 9.292%, (3 mo. USD LIBOR + 6.70%), 1/20/32^(8)(11)		500		494,826

Dryden 40 Senior Loan Fund

Series 2015-40A, Class ER, 8.268%, (3 mo. USD LIBOR + 5.75%), 8/15/31^(8)(11)		500		476,941

Galaxy XV CLO, Ltd.

Series 2013-15A, Class ER, 9.242%, (3 mo. USD LIBOR + 6.65%), 10/15/30^(8)(11)		500		481,470

Galaxy XXI CLO, Ltd.

Series 2015-21A, Class ER, 7.842%, (3 mo. USD LIBOR + 5.25%), 4/20/31^(8)(11)		500		449,423

Golub Capital Partners CLO, Ltd.

Series 2015-23A, Class ER, 8.342%, (3 mo. USD LIBOR + 5.75%), 1/20/31^(8)(11)		600		556,654

Kayne CLO, Ltd.

Series 2019-5A, Class E, (3 mo. USD LIBOR + 6.70%), 7/24/32^(8)(10)		500		492,500

Madison Park Funding XXXVII, Ltd.

Series 2019-37A, Class E, (3 mo. USD LIBOR + 6.55%), 7/15/32^(8)(10)		500		500,625

Neuberger Berman Loan Adviser CLO, Ltd.

Series 2019-31A, Class E, 9.274%, (3 mo. USD LIBOR + 6.75%), 4/20/31^(8)(11)		500		495,310

Palmer Square CLO, Ltd.

Series 2013-2A, Class DRR, 8.438%, (3 mo. USD LIBOR + 5.85%), 10/17/31^(8)(11)		450		425,982

Series 2015-2A, Class DR, 9.092%, (3 mo. USD LIBOR + 6.50%), 7/20/30^(8)(11)		600		597,990

Vibrant CLO XI, Ltd.

Series 2019-11A, Class D, (3 mo. USD LIBOR + 6.77%), 7/20/32^(8)(10)		500		492,500

Voya CLO, Ltd.

Series 2013-1A, Class DR, 9.077%, (3 mo. USD LIBOR + 6.48%), 10/15/30^(8)(11)		1,000		954,419

Total Asset-Backed Securities (identified cost $9,153,898)			$	8,943,586

Common Stocks — 1.9%
Security	Shares		Value

Aerospace and Defense — 0.2%

IAP Global Services, LLC^(3)(15)(16)		29	$	372,386

			$	372,386


Security	Shares		Value

Automotive — 0.1%

Dayco Products, LLC^(15)(16)		10,159	$	325,088

			$	325,088

Electronics / Electrical — 0.0%⁽⁹⁾

Answers Corp.^(3)(15)(16)		46,839	$	93,678

			$	93,678

Health Care — 0.0%⁽⁹⁾

New Millennium Holdco, Inc.^(15)(16)		35,156	$	2,813

			$	2,813

Nonferrous Metals/Minerals — 0.0%

ASP United/GHX Holding, LLC^(3)(15)(16)		38,082	$	0

			$	0

Oil and Gas — 0.7%

AFG Holdings, Inc.^(3)(15)(16)		13,348	$	857,876

Fieldwood Energy, Inc.^(15)(16)		9,594		301,012

Nine Point Energy Holdings, Inc.^(3)(16)(17)		325		3

Samson Resources II, LLC, Class A^(15)(16)		22,051		529,224

Southcross Holdings Group, LLC^(3)(15)(16)		30		0

Southcross Holdings L.P., Class A^(15)(16)		30		16,125

			$	1,704,240

Publishing — 0.6%

ION Media Networks, Inc.^(3)(15)		2,155	$	1,609,720

Tweddle Group, Inc.^(3)(15)(16)		889		1,965

			$	1,611,685

Radio and Television — 0.3%

Clear Channel Outdoor Holdings, Inc.^(15)(16)		42,539	$	200,784

Cumulus Media, Inc.^(15)(16)		18,865		349,946

iHeartMedia, Inc., Class A^(15)(16)		18,090		284,917

			$	835,647

Retailers (Except Food and Drug) — 0.0%⁽⁹⁾

David’s Bridal, Inc.^(15)(16)		9,424	$	47,120

			$	47,120

Total Common Stocks (identified cost $2,813,381)			$	4,992,657


Convertible Preferred Stocks — 0.0%⁽⁹⁾
Security	Shares		Value

Oil and Gas — 0.0%⁽⁹⁾

Nine Point Energy Holdings, Inc., Series A, 12.00%^(3)(16)(17)		5	$	4,052

Total Convertible Preferred Stocks (identified cost $5,000)			$	4,052

Closed-End Funds — 2.0%
Security	Shares		Value

BlackRock Floating Rate Income Strategies Fund, Inc.		49,400	$	633,802

Invesco Senior Income Trust		238,872		1,031,927

Nuveen Credit Strategies Income Fund		180,539		1,429,869

Nuveen Floating Rate Income Fund		73,198		721,000

Nuveen Floating Rate Income Opportunity Fund		51,054		497,266

Voya Prime Rate Trust		196,084		933,360

Total Closed-End Funds (identified cost $6,015,229)			$	5,247,224

Miscellaneous — 0.0%⁽⁹⁾
Security	Principal Amount/ Shares		Value

Cable and Satellite Television — 0.0%

ACC Claims Holdings, LLC^(3)(16)		200,340	$	0

			$	0

Oil and Gas — 0.0%⁽⁹⁾

Paragon Offshore Finance Company, Class A^(15)(16)		764	$	716

Paragon Offshore Finance Company, Class B^(15)(16)		382		13,370

			$	14,086

Telecommunications — 0.0%

Avaya, Inc., Escrow Certificates^(3)(16)	$	10,000	$	0

			$	0

Total Miscellaneous (identified cost $8,309)			$	14,086


Short-Term Investments — 1.2%
Description	Units		Value

Eaton Vance Cash Reserves Fund, LLC, 2.40%⁽¹⁸⁾		3,194,436	$	3,194,436

Total Short-Term Investments (identified cost $3,194,436)			$	3,194,436

Total Investments — 155.0% (identified cost $424,502,519)			$	413,478,026

Less Unfunded Loan Commitments — (0.1)%			$	(144,784	)

Net Investments — 154.9% (identified cost $424,357,735)			$	413,333,242

Other Assets, Less Liabilities — (40.8)%			$	(108,798,204	)

Auction Preferred Shares Plus Cumulative Unpaid Dividends — (14.1)%			$	(37,609,209	)

Net Assets Applicable to Common Shares — 100.0%			$	266,925,829

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.

⁽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. See Note 1F for description.

⁽³⁾

For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 12).

⁽⁴⁾

The stated interest rate represents the weighted average interest rate at June 30, 2019 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.

⁽⁵⁾

This Senior Loan will settle after June 30, 2019, at which time the interest rate will be determined.

⁽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⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At June 30, 2019, the aggregate value of these securities is $30,031,895 or 11.3% of the Trust’s net assets applicable to common shares.

⁽⁹⁾

Amount is less than 0.05%.

⁽¹⁰⁾	When-issued security. For a variable rate security, interest rate will be determined after June 30, 2019.

⁽¹¹⁾	Variable rate security. The stated interest rate represents the rate in effect at June 30, 2019.

⁽¹²⁾	Security converts to floating 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⁾	Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion.

⁽¹⁵⁾	Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale.

⁽¹⁶⁾	Non-income producing security.

⁽¹⁷⁾	Restricted security (see Note 7).

⁽¹⁸⁾	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 June 30, 2019.

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.

Eaton Vance Senior Income Trust (the Trust) 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 Trust’s investment objective is to provide a high level of current income, consistent with the preservation of capital, by investing primarily in senior, secured floating-rate loans.

The following is a summary of significant accounting policies of the Trust. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Trust 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 Trust 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 Trust. 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 Trust. 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. 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 Trust’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.

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.

Affiliated Fund. The Trust 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 Trust in a manner that most fairly reflects the security’s “fair value”, which is the amount that the Trust 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. 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 Trust’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 June 30, 2019, the Trust had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Trust 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 Trust may enter into certain loan agreements all or a portion of which may be unfunded. The Trust is obligated to fund these commitments at the borrower’s discretion. These commitments are disclosed in the accompanying Portfolio of Investments. At June 30, 2019, the Trust 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 Trust’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 Trust. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts business trust (such as the Trust) could be deemed to have personal liability for the obligations of the Trust. However, the Trust’s Declaration of Trust contains an express disclaimer of liability on the part of Trust shareholders and the By-laws provide that the Trust shall assume, upon request by the shareholder, the defense on behalf of any Trust shareholders. Moreover, the By-laws also provide for indemnification out of Trust 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 Trust enters into agreements with service providers that may contain indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

I Forward Foreign Currency Exchange Contracts — The Trust 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. Risks may arise upon entering these 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.

J When-Issued Securities and Delayed Delivery Transactions — The Trust 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 Trust 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.

K New Accounting Pronouncement — During the year ended June 30, 2019, the Trust adopted the FASB’s Accounting Standards Update No. 2016-18, “Statement of Cash Flows (Topic 230) - Restricted Cash” (ASU 2016-18), which became effective for fiscal years beginning after December 15, 2017 and interim periods within those fiscal years. Pursuant to the new standard, the Trust is required to include amounts described as restricted cash and

restricted cash equivalents with cash and cash equivalents when reconciling the beginning-of-year and end-of-year total amounts shown on the Statement of Cash Flows. Prior to the change, such amounts were disclosed separately within the Statement of Cash Flows. This change in accounting had no impact on the Trust’s net assets.

The Trust issued Auction Preferred Shares (APS) on July 27, 2001 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 125% 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.

On June 29, 2018, the Trust announced a tender offer to purchase up to 39% of its outstanding APS at a price per share equal to 92% of the APS liquidation preference of $25,000 per share (or $23,000 per share), plus any accrued but unpaid APS dividends. The tender offer expired on September 14, 2018. The number of APS redeemed pursuant to the tender offer and the redemption amount (excluding the final dividend payment) during the year ended June 30, 2019 and the number of APS issued and outstanding at June 30, 2019 are as follows:

The APS are redeemable at the option of the Trust 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 Trust 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 Trust is required to maintain certain asset coverage with respect to the APS as defined in the Trust’s By-Laws and the 1940 Act. The Trust 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%.

The Trust 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 Trust intends to distribute all or substantially all of its net realized capital gains (reduced by available capital loss carryforwards from prior years). 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 June 30, 2019, and the amount of dividends accrued (including capital gains, if any) to APS shareholders, average APS dividend rates, and dividend rate ranges for the year then ended were as follows:

Beginning February 13, 2008 and consistent with the patterns in the broader market for auction-rate securities, the Trust’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 June 30, 2019.

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.

The tax character of distributions declared for the years ended June 30, 2019 and June 30, 2018 was as follows:

During the year ended June 30, 2019, accumulated loss was decreased by $5,070,896 and paid-in capital was decreased by $5,070,896 due to expired capital loss carryforwards. These reclassifications had no effect on the net assets or net asset value per share of the Trust.

As of June 30, 2019, the components of distributable earnings (accumulated loss) on a tax basis were as follows:

During the year ended June 30, 2019, capital loss carryforwards of $2,009,025 were utilized to offset net realized gains by the Trust.

At June 30, 2019, the Trust had a net capital loss of $1,431,100 attributable to security transactions incurred after October 31, 2018 that it has elected to defer. This net capital loss is treated as arising on the first day of the Trust’s taxable year ending June 30, 2020.

The cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the Trust at June 30, 2019, as determined on a federal income tax basis, were as follows:

The investment adviser fee is earned by EVM as compensation for management and investment advisory services rendered to the Trust. Pursuant to the investment advisory agreement between the Trust and EVM, the investment advisory fee payable by the Trust is 0.85% of the Trust’s average weekly gross assets and is payable monthly. Pursuant to a fee reduction agreement between the Trust and EVM that commenced on May 1, 2010, the annual investment adviser fee is reduced by 0.01% every May 1 thereafter for the next twenty-nine years. The Trust’s advisory fee is currently computed at an annual rate of 0.75% (0.76% prior to May 1, 2019) of its average weekly gross assets and is payable monthly. The fee reduction cannot be terminated without the consent of the Trustees and shareholders. For the year ended June 30, 2019, the Trust’s investment adviser fee totaled $3,155,995. The Trust invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund. The administration fee is earned by EVM for administering the business affairs of the Trust and is computed at an annual rate of 0.25% of the Trust’s average weekly gross assets. For the year ended June 30, 2019, the administration fee amounted to $1,040,435.

Trustees and officers of the Trust who are members of EVM’s organization receive remuneration for their services to the Trust out of the investment adviser fee. Trustees of the Trust 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 year ended June 30, 2019, no significant amounts have been deferred. Certain officers and Trustees of the Trust are officers of EVM.

Purchases and sales of investments, other than short-term obligations and including maturities, paydowns and principal repayments on Senior Loans, aggregated $107,640,895 and $119,664,086, respectively, for the year ended June 30, 2019.

The Trust may issue common shares pursuant to its dividend reinvestment plan. There were no common shares issued by the Trust for the years ended June 30, 2019 and June 30, 2018.

In November 2013, the Board of Trustees initially approved a share repurchase program for the Trust. Pursuant to the reauthorization of the share repurchase program by the Board of Trustees in March 2019, the Trust 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 repurchase program does not obligate the Trust to purchase a specific amount of shares. There were no repurchases of common shares by the Trust for the years ended June 30, 2019 and June 30, 2018.

Pursuant to a registration statement filed with the SEC, the Trust is authorized to issue up to an additional 4,551,438 common shares through an equity shelf offering program (the “shelf offering”). Under the shelf offering, the Trust, subject to market conditions, may raise additional capital from time to time and in varying amounts and offering methods at a net price at or above the Trust’s net asset value per common share. During the years ended June 30, 2019 and June 30, 2018, there were no shares sold by the Trust pursuant to its shelf offering.

At June 30, 2019, the Trust owned the following securities (representing less than 0.01% of net assets applicable to common shares) which were restricted as to public resale and not registered under the Securities Act of 1933 (excluding Rule 144A securities). The Trust 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.

The Trust 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 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 Trust 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 June 30, 2019 is included in the Portfolio of Investments. At June 30, 2019, the Trust had sufficient cash and/or securities to cover commitments under these contracts.

The Trust is subject to foreign exchange risk in the normal course of pursuing its investment objective. Because the Trust 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 Trust enters into forward foreign currency exchange contracts.

The Trust enters into forward foreign currency exchange contracts that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Trust’s net assets below a certain level over a certain period of time, which would trigger a payment by the Trust for those derivatives in a liability position. At June 30, 2019, the fair value of derivatives with credit-related contingent features in a net liability position was $193,370. At June 30, 2019, there were no assets pledged by the Trust for such liability.

The over-the-counter (OTC) derivatives in which the Trust 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 Trust 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 Trust 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 Trust 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 Trust’s net assets decline by a stated percentage or the Trust fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Trust 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 Trust and/or counterparty is held in segregated accounts by the Trust’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 Trust, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Trust as collateral, if any, are identified as such in the Portfolio of Investments.

The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) and whose primary underlying risk exposure is foreign exchange risk at June 30, 2019 was as follows:

The Trust’s derivative assets and liabilities at fair value by type, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following tables present the Trust’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 Trust for such assets and pledged by the Trust for such liabilities as of June 30, 2019.

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations and whose primary underlying risk exposure is foreign exchange risk for the year ended June 30, 2019 was as follows:

The average notional amount of forward foreign currency exchange contracts (based on the absolute value of notional amounts of currency purchased and currency sold) outstanding during the year ended June 30, 2019, which is indicative of the volume of this derivative type, was approximately $24,898,000.

The Trust has entered into a Revolving Credit and Security Agreement, as amended (the Agreement) with conduit lenders and a bank that allows it to borrow up to $125 million ($100 million prior to September 13, 2018) and to invest the borrowings in accordance with its investment practices. Borrowings under the Agreement are secured by the assets of the Trust. Interest is generally charged at a rate above the conduits’ commercial paper issuance rate and is payable monthly. Under the terms of the Agreement, in effect through March 9, 2020, the Trust also pays a program fee of 0.85% (0.67% prior to March 11, 2019) per annum on its outstanding borrowings to administer the facility and a liquidity fee of 0.15% (0.25% if the outstanding loan amount is less than or equal to 60% of the total facility size) per annum on the unused portion of the total commitment under the Agreement. Prior to March 11, 2019, the liquidity fee was 0.15% on the total commitment (used or unused) or 0.25% if the outstanding loan amount was less than or equal to 60% of the total commitment. Program and liquidity fees for the year ended June 30, 2019 totaled $891,960 and are included in interest expense and fees on the Statement of Operations. In connection with the increase in the facility size in September 2018, the Trust paid an upfront fee of $12,329, which was amortized to interest expense through March 2019. The Trust paid an additional upfront fee of $125,000 in connection with the renewal of the Agreement in March 2019, which is being amortized to interest expense over a period of one year. The unamortized balance as of June 30, 2019 is approximately $87,000 and is included in prepaid upfront fees on notes payable on the Statement of Assets and Liabilities. The Trust is required to maintain certain net asset levels during the term of the Agreement. At June 30, 2019, the Trust had borrowings outstanding under the Agreement of $103,000,000 at an interest rate of 2.51%. Based on the short-term nature of the borrowings under the Agreement and the variable interest rate, the carrying amount of the borrowings at June 30, 2019 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 June 30, 2019. For the year ended June 30, 2019, the average borrowings under the Agreement and the average interest rate (excluding fees) were $103,016,438 and 2.50%, respectively.

Investing in securities issued by companies 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 Trust, 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.

The Trust invests primarily in below investment grade floating-rate loans, which are considered speculative because of the credit risk of their issuers. Changes in economic conditions or other circumstances are more likely to reduce the capacity of issuers of these securities to make principal and interest payments. Such companies are more likely to default on their payments of interest and principal owed than issuers of investment grade bonds. An economic downturn generally leads to a higher non-payment rate, and a loan or other debt obligation may lose significant value before a default occurs. Lower rated investments also may be subject to greater price volatility than higher rated investments. Moreover, the specific collateral used to secure a loan may decline in value or become illiquid, which would adversely affect the loan’s value.

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.

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 June 30, 2019, the hierarchy of inputs used in valuing the Trust’s investments and open derivative instruments, which are carried at value, were as follows:

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 year ended June 30, 2019 is not presented.

In May 2015, the Trust was served with an amended complaint filed in an adversary proceeding in the United States Bankruptcy Court for the Southern District of New York. The adversary proceeding was filed by the Motors Liquidation Company Avoidance Action Trust (“AAT”) against the former holders of a $1.5 billion term loan issued by General Motors Corp. (“GM”) in 2006 (the “Term Loan Lenders”) who received a full repayment of the term loan pursuant to a court order in the GM bankruptcy proceeding. The court order was made with the understanding that the term loan was fully secured at the time of GM’s bankruptcy filing in June 2009. The AAT sought (1) a determination from the Bankruptcy Court that the security interest held by the Term Loan Lenders was not perfected at the time GM filed for Chapter 11 Bankruptcy protection and thus the Term Loan Lenders should have been treated in the same manner as GM’s unsecured creditors, (2) disgorgement of any interest payments made to the Term Loan Lenders within ninety days of GM’s filing for Chapter 11 Bankruptcy protection, and (3) disgorgement of the $1.5 billion term loan repayment that was made to the Term Loan Lenders. The value of the payment received under the term loan agreement by the Trust was approximately $1,787,000 (equal to 0.67% of net assets applicable to common shares at June 30, 2019). In April 2019, the parties to the litigation reached a settlement agreement in principle, subject to Court approval. On June 12, 2019, the Court approved the settlement, and all claims and cross claims in the litigation were dismissed on July 2, 2019. The Trust did not suffer any loss to the Trust’s net asset value as a result of the settlement. The attorneys’ fees and costs related to these actions were expensed by the Trust as incurred.

We have audited the accompanying statement of assets and liabilities of Eaton Vance Senior Income Trust (the “Trust”), including the portfolio of investments, as of June 30, 2019, the related statements of operations and cash flows for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Trust as of June 30, 2019, and the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

These financial statements and financial highlights are the responsibility of the Trust’s management. Our responsibility is to express an opinion on the Trust’s financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities and senior loans owned as of June 30, 2019, by correspondence with the custodian, brokers and selling or agent banks; when replies were not received from brokers and selling or agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

We have served as the auditor of one or more Eaton Vance investment companies since 1959.

The Form 1099-DIV you receive in February 2020 will show the tax status of all distributions paid to your account in calendar year 2019. Shareholders are advised to consult their own tax adviser with respect to the tax consequences of their investment in the Trust.

The Trust offers a dividend reinvestment plan (Plan) pursuant to which shareholders automatically have distributions reinvested in common shares (Shares) of the Trust unless they elect otherwise through their investment dealer. On the distribution payment date, if the NAV per Share is equal to or less than the market price per Share plus estimated brokerage commissions, then new Shares will be 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 will be purchased on the open market by American Stock Transfer & Trust Company, LLC, the Plan agent (Agent). Distributions subject to income tax (if any) are taxable whether or not Shares are reinvested.

If your Shares are in the name of a brokerage firm, bank, or other nominee, you can ask the firm or nominee to participate in the Plan on your behalf. If the nominee does not offer the Plan, you will need to request that the Trust’s transfer agent re-register your Shares in your name or you will not be able to participate.

The Agent’s service fee for handling distributions will be paid by the Trust. Plan participants will be charged their pro rata share of brokerage commissions on all open-market purchases.

Plan participants may withdraw from the Plan at any time by writing to the Agent at the address noted on the following page. If you withdraw, you will receive Shares in your name for all Shares credited to your account under the Plan. If a participant elects by written notice to the Agent to sell part or all of his or her Shares and remit the proceeds, the Agent is authorized to deduct a $5.00 fee plus brokerage commissions from the proceeds.

If you wish to participate in the Plan and your Shares are held in your own name, you may complete the form on the following page and deliver it to the Agent. Any inquiries regarding the Plan can be directed to the Agent at 1-866-439-6787.

The following authorization and appointment is given with the understanding that I may terminate it at any time by terminating my participation in the Plan as provided in the terms and conditions of the Plan.

Please sign exactly as your common shares are registered. All persons whose names appear on the share certificate must sign.

YOU SHOULD NOT RETURN THIS FORM IF YOU WISH TO RECEIVE YOUR DISTRIBUTIONS IN CASH. THIS IS NOT A PROXY.

This authorization form, when signed, should be mailed to the following address:

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 24, 2019, the Boards of Trustees/Directors (collectively, the “Board”) 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 and sub-advisory agreements for each of the Eaton Vance Funds for an additional one-year period. In voting its approval, 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 (where applicable) to each of the Eaton Vance Funds (including information specifically requested by the Board) for a series of meetings held between February and April 2019. 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 and sub-advisory agreements.

Among other things, the information the Board considered included the following (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):

During the various meetings of the Board and its committees throughout the twelve months ended April 2019, the Trustees received information from portfolio managers and other investment professionals of the advisers and sub-advisers (where applicable) 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 (as applicable), 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 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 and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment advisory 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 and sub-advisory agreement. In evaluating each investment advisory 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 (where applicable) to each of the Eaton Vance Funds.

Based on its consideration of the foregoing, and such other information as 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 Senior Income Trust (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.

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 special considerations relevant to investing in senior floating rate loans. Specifically, the Board noted the experience of the Adviser’s large group of bank loan investment professionals and other personnel who provide services to the Fund, including portfolio managers and analysts. 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 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 shareholder and other administrative services provided or managed 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.

The Board compared the Fund’s investment performance to that of comparable funds and appropriate benchmark indices, as well as a customized 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, 2018. In this regard, the Board noted that the performance of the Fund was higher 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 primary benchmark index for the
three-year period. The Board concluded that the performance of the Fund was satisfactory.

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, 2018, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also received and considered information about the services offered and the fee rates charged by the Adviser to other types of accounts with investment objectives and strategies that are substantially similar to and/or managed in a similar investment style as the Fund. In this regard, the Board received information about the differences in the nature and scope of services the Adviser provides to the Fund as compared to other types of accounts and the material differences in compliance, reporting and other legal burdens and risks to the Adviser as between the Fund and other types of accounts. The Board also considered certain Fund specific factors that had an impact on the Fund’s total expense ratio relative to comparable funds, as identified by management in response to inquiries from the Contract Review Committee. Additionally, the Board took into account the financial resources committed by the Adviser in structuring the Fund at the time of its initial public offering and the waiver of fees provided by the Adviser for the first five years of the Fund’s life. The Board also considered that, following discussions with the Contract Review Committee, the Adviser had implemented a series of permanent reductions in management fees beginning in May 2010, which included a further fee reduction effective May 1, 2019.

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.

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 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.

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 in the same manner as an open-end fund and that, notwithstanding that the Fund is authorized to issue additional common shares through a shelf offering, the Fund’s assets are not expected to increase materially in the foreseeable future. The Board concluded that the implementation of breakpoints in the advisory fee schedule is not warranted at this time.

Fund Management. The Trustees of Eaton Vance Senior Income Trust (the Trust) are responsible for the overall management and supervision of the Trust’s affairs. The Trustees and officers of the Trust are listed below. Except as indicated, each individual has held the office shown or other offices in the same company for the last five years. The “Noninterested Trustees” consist of those Trustees who are not “interested persons” of the Trust, as that term is defined under the 1940 Act. The business address of each Trustee and officer is Two International Place, Boston, Massachusetts 02110. As used below, “EVC” refers to Eaton Vance Corp., “EV” refers to Eaton Vance, Inc., “EVM” refers to Eaton Vance Management, “BMR” refers to Boston Management and Research and “EVD” refers to Eaton Vance Distributors, Inc. EVC and EV are the corporate parent and trustee, respectively, of EVM and BMR. EVD is the Trust’s principal underwriter and a wholly-owned subsidiary of EVC. Each officer affiliated with Eaton Vance may hold a position with other Eaton Vance affiliates that is comparable to his or her position with EVM listed below. Each Trustee oversees 168 portfolios in the Eaton Vance Complex (including all master and feeder funds in a master feeder structure). Each officer serves as an officer of certain other Eaton Vance funds. Each Trustee serves for a three-year term. Each officer serves until his or her successor is elected.

Privacy. The Eaton Vance organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy (“Privacy Policy”) with respect to nonpublic personal information about its customers:

Our pledge of privacy 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 Management’s Real Estate Investment Group and Boston Management and Research. In addition, our Privacy Policy applies only to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer’s account (i.e., fund shares) is held in the name of a third-party financial advisor/broker-dealer, it is likely that only such advisor’s privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures. For more information about Eaton Vance’s Privacy Policy, 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 for the first and third quarters of each fiscal year. The Form N-PORT will be available 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”.

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 15^th Avenue

Brooklyn, NY 11219

The registrant has adopted a code of ethics applicable to its Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. The registrant undertakes to provide a copy of such code of ethics to any person upon request, without charge, by calling 1-800-262-1122. The registrant has not amended the code of ethics as described in Form N-CSR during the period covered by this report. The registrant has not granted any waiver, including an implicit waiver, from a provision of the code of ethics as described in Form N-CSR during the period covered by this report.

The registrant’s Board has designated George J. Gorman and William H. Park, each an independent trustee, as audit committee financial experts. Mr. Gorman is a certified public accountant who is the Principal at George J. Gorman LLC (a consulting firm). Previously, Mr. Gorman served in various capacities at Ernst & Young LLP (a registered public accounting firm), including as Senior Partner. Mr. Gorman also has experience serving as an independent trustee and audit committee financial expert of other mutual fund complexes. Mr. Park is a certified public accountant who is a private investor. Previously, he served as a consultant, as the Chief

Financial Officer of Aveon Group, L.P. (an investment management firm), as the Vice Chairman of Commercial Industrial Finance Corp. (specialty finance company), as President and Chief Executive Officer of Prizm Capital Management, LLC (investment management firm), as Executive Vice President and Chief Financial Officer of United Asset Management Corporation (an institutional investment management firm) and as a Senior Manager at Price Waterhouse (now PricewaterhouseCoopers) (a registered public accounting firm).

The following table presents the aggregate fees billed to the registrant for the registrant’s fiscal years ended June 30, 2018 and June 30, 2019 by the registrant’s principal accountant, Deloitte & Touche LLP (“D&T”), for professional services rendered for the audit of the registrant’s annual financial statements and fees billed for other services rendered by D&T during such periods.

(e)(1) The registrant’s audit committee has adopted policies and procedures relating to the pre-approval of services provided by the registrant’s principal accountant (the “Pre-Approval Policies”). The Pre-Approval Policies establish a framework intended to assist the audit committee in the proper discharge of its pre-approval responsibilities. As a general matter, the Pre-Approval Policies (i) specify certain types of audit, audit-related, tax, and other services determined to be pre-approved by the audit committee; and (ii) delineate specific procedures governing the mechanics of the pre-approval process, including the approval and monitoring of audit and non-audit service fees. Unless a service is specifically pre-approved under the Pre-Approval Policies, it must be separately pre-approved by the audit committee.

The Pre-Approval Policies and the types of audit and non-audit services pre-approved therein must be reviewed and ratified by the registrant’s audit committee at least annually. The registrant’s audit committee maintains full responsibility for the appointment, compensation, and oversight of the work of the registrant’s principal accountant.

(e)(2) No services described in paragraphs (b)-(d) above were approved by the registrant’s audit committee pursuant to the “de minimis exception” set forth in Rule 2-01 (c)(7)(i)(C) of Regulation S-X.

(g) The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the registrant by D&T for the registrant’s fiscal years ended June 30, 2018 and June 30, 2019; and (ii) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the Eaton Vance organization by D&T for the same time periods.

(h) The registrant’s audit committee has considered whether the provision by the registrant’s principal accountant of non-audit services to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining the principal accountant’s independence.

The registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities and Exchange Act of 1934, as amended. George J. Gorman (Chair), Valerie A. Mosley, William H. Park and Scott E. Wennerholm are the members of the registrant’s audit committee.

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

The Board of Trustees of the Trust has adopted a proxy voting policy and procedure (the “Fund Policy”), pursuant to which the Trustees have delegated proxy voting responsibility to the Fund’s investment adviser and adopted the investment adviser’s proxy voting policies and procedures (the “Policies”) which are described below. The Trustees will review the Fund’s proxy voting records from time to time and will annually consider approving the Policies for the upcoming year. In the event that a conflict of interest arises between the Fund’s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund, the investment adviser will generally refrain from voting the proxies related to the companies giving rise to such conflict until it consults with the Board’s Special Committee except as contemplated under the Fund Policy. The Board’s Special Committee will instruct the investment adviser on the appropriate course of action.

The Policies are designed to promote accountability of a company’s management to its shareholders and to align the interests of management with those shareholders. An independent proxy voting service (“Agent”), currently Institutional Shareholder Services, Inc., has been retained to assist in the voting of proxies through the provision of vote analysis, implementation and recordkeeping and disclosure services. The investment adviser will generally vote proxies through the Agent. The Agent is required to vote all proxies and/or refer them back to the investment adviser pursuant to the Policies. It is generally the policy of the investment adviser to vote in accordance with the recommendation of the Agent. The Agent shall refer to the investment adviser proxies relating to mergers and restructurings, and the disposition of assets, termination, liquidation and mergers contained in mutual fund proxies. The investment adviser will normally vote against anti-takeover measures and other proposals designed to limit the ability of shareholders to act on possible transactions, except in the case of closed-end management investment companies. The investment adviser generally supports management on social and environmental proposals. The investment adviser may abstain from voting from time to time where it determines that the costs associated with voting a proxy outweighs the benefits derived from exercising the right to vote or the economic effect on shareholders interests or the value of the portfolio holding is indeterminable or insignificant.

In addition, the investment adviser will monitor situations that may result in a conflict of interest between the Fund’s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund by maintaining a list of significant existing and prospective corporate clients. The investment adviser’s personnel responsible for reviewing and voting proxies on behalf of the Fund will report any proxy received or expected to be received from a company included on that list to the personnel of the investment adviser identified in the Policies. If such personnel expects to instruct the Agent to vote such proxies in a manner inconsistent with the guidelines of the Policies or the recommendation of the Agent, the personnel will consult with members of senior management of the investment adviser to determine if a material conflict of interests exists. If it is determined that a material conflict does exist, the investment adviser will seek instruction on how to vote from the Special Committee.

Information on how the Fund voted proxies relating to portfolio securities during the most recent 12 month period ended June 30 is available (1) without charge, upon request, by calling 1-800-262-1122, and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov.

Eaton Vance Management (“EVM” or “Eaton Vance”) is the investment adviser of the Trust. William E. Holt, Catherine C. McDermott, Daniel P. McElaney, Scott H. Page, John P. Redding and Andrew N. Sveen comprise the investment team responsible for the overall and day-to-day management of the Trust’s investments.

Messrs. Holt, McElaney and Sveen and Ms. McDermott are Vice Presidents of EVM and have been portfolio managers of the Trust since March 2019. Mr. Page is a Vice President of EVM and have been a portfolio manager of the Trust since October 1998. Mr. Redding is a Vice President of EVM and have been a portfolio manager of the Trust since November 2001. Messrs. Page, Redding and Sveen and Ms. McDermott have managed other Eaton Vance portfolios for more than five years. This information is provided as of the date of filing this report.

The following table shows, as of the Trust’s most recent fiscal year end, the number of accounts each portfolio manager managed in each of the listed categories and the total assets (in millions of dollars) in the accounts managed within each category. The table also shows the number of accounts with respect to which the advisory fee is based on the performance of the account, if any, and the total assets (in millions of dollars) in those accounts.

The following table shows the dollar range of Trust shares beneficially owned by each portfolio manager as of the Trust’s most recent fiscal year end.

Potential for Conflicts of Interest. It is possible that conflicts of interest may arise in connection with a portfolio manager’s management of the Fund’s investments on the one hand and the investments of other accounts for which a portfolio manager is responsible on the other. For example, a portfolio manager may have conflicts of interest in allocating management time, resources and investment opportunities among the Fund and other accounts he or she advises. In addition, due to differences in the investment strategies or restrictions between the Fund and the other accounts, the portfolio manager may take action with respect to another account that differs from the action taken with respect to the Fund. In some cases, another account managed by a portfolio manager may compensate the investment adviser based on the performance of the securities held by that account. The existence of such a performance based fee may create additional conflicts of interest for the portfolio manager in the allocation of management time, resources and investment opportunities. Whenever conflicts of interest arise, the portfolio manager will endeavor to exercise his or her discretion in a manner that he or she believes is equitable to all interested persons. EVM has adopted several policies and procedures designed to address these potential conflicts including a code of ethics and policies that govern the investment adviser’s trading practices, including among other things the aggregation and allocation of trades among clients, brokerage allocations, cross trades and best execution.

Compensation of EVM’s portfolio managers and other investment professionals has the following primary components: (1) a base salary, (2) an annual cash bonus, (3) annual non-cash compensation consisting of options to purchase shares of EVC nonvoting common stock and/or restricted shares of EVC nonvoting common stock that generally are subject to a vesting schedule, and (4) (for equity portfolio managers) a Deferred Alpha Incentive Plan, which pays a deferred cash award tied to future excess returns in certain equity strategy portfolios. EVM’s investment professionals also receive certain retirement, insurance and other benefits that are broadly available to EVM’s employees. Compensation of EVM’s investment professionals is reviewed primarily on an annual basis. Cash bonuses, stock-based compensation awards, and adjustments in base salary are typically paid or put into effect at or shortly after the October 31st fiscal year end of EVC.

Method to Determine Compensation. EVM compensates its portfolio managers based primarily on the scale and complexity of their portfolio responsibilities and the total return performance of managed funds and accounts versus the benchmark(s) stated in the prospectus, as well as an appropriate peer group (as described below). In addition to rankings within peer groups of funds on the basis of absolute performance, consideration may also be given to relative risk-adjusted performance. Risk-adjusted performance measures include, but are not limited to, the Sharpe Ratio (Sharpe Ratio uses standard deviation and excess return to determine reward per unit of risk). Performance is normally based on periods ending on the September 30th preceding fiscal year

end. Fund performance is normally evaluated primarily versus peer groups of funds as determined by Lipper Inc. and/or Morningstar, Inc. When a fund’s peer group as determined by Lipper or Morningstar is deemed by EVM’s management not to provide a fair comparison, performance may instead be evaluated primarily against a custom peer group or market index. In evaluating the performance of a fund and its manager, primary emphasis is normally placed on three-year performance, with secondary consideration of performance over longer and shorter periods. For funds that are tax-managed or otherwise have an objective of after-tax returns, performance is measured net of taxes. For other funds, performance is evaluated on a pre-tax basis. For funds with an investment objective other than total return (such as current income), consideration will also be given to the fund’s success in achieving its objective. For managers responsible for multiple funds and accounts, investment performance is evaluated on an aggregate basis, based on averages or weighted averages among managed funds and accounts. Funds and accounts that have performance-based advisory fees are not accorded disproportionate weightings in measuring aggregate portfolio manager performance. A portion of the compensation payable to equity portfolio managers and investment professionals will be determined based on the ability of one or more accounts managed by such manager to achieve a specified target average annual gross return over a three year period in excess of the account benchmark. The cash award to be payable at the end of the three year term will be established at the inception of the term and will be adjusted positively or negatively to the extent that the average annual gross return varies from the specified target return.

The compensation of portfolio managers with other job responsibilities (such as heading an investment group or providing analytical support to other portfolios) will include consideration of the scope of such responsibilities and the managers’ performance in meeting them.

EVM seeks to compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms within the investment management industry. EVM participates in investment-industry compensation surveys and utilizes survey data as a factor in determining salary, bonus and stock-based compensation levels for portfolio managers and other investment professionals. Salaries, bonuses and stock-based compensation are also influenced by the operating performance of EVM and its parent company. The overall annual cash bonus pool is generally based on a substantially fixed percentage of pre-bonus adjusted operating income. While the salaries of EVM’s portfolio managers are comparatively fixed, cash bonuses and stock-based compensation may fluctuate significantly from year to year, based on changes in manager performance and other factors as described herein. For a high performing portfolio manager, cash bonuses and stock-based compensation may represent a substantial portion of total compensation.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

(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

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.

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.


Management’s Discussion of Fund Performance			2

Performance			3

Fund Profile			4

Endnotes and Additional Disclosures			5

Financial Statements			6

Report of Independent Registered Public Accounting Firm			46

Federal Tax Information			47

Dividend Reinvestment Plan			48

Board of Trustees’ Contract Approval			50

Management and Organization			53

Important Notices			56


% Average Annual Total Returns	Inception Date		One Year			Five Years			Ten Years
Fund at NAV		10/30/1998		4.46	%		5.48	%		9.10	%
Fund at Market Price		—		3.88			4.46			9.45
S&P/LSTA Leveraged Loan Index		—		3.97	%		3.68	%		6.17	%


% Premium/Discount to NAV⁴
										–11.63	%


Distributions⁵
Total Distributions per share for the period									$	0.388
Distribution Rate at NAV										5.79	%
Distribution Rate at Market Price										6.55	%


% Total Leverage⁶
Auction Preferred Shares (APS)										9.23	%
Borrowings										25.27


Forward Foreign Currency Exchange Contracts

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation		Unrealized (Depreciation)

USD	5,000,830	EUR	4,449,117	Goldman Sachs International		7/31/19	$	—	$	(70,420	)

USD	955,917	EUR	845,750	HSBC Bank USA, N.A.		7/31/19		—		(8,097	)

USD	762,550	EUR	676,688	State Street Bank and Trust Company		7/31/19		—		(8,761	)

USD	196,476	EUR	175,000	State Street Bank and Trust Company		7/31/19		—		(2,995	)

USD	428,730	GBP	339,643	State Street Bank and Trust Company		7/31/19		—		(3,229	)

USD	750,033	GBP	577,766	State Street Bank and Trust Company		7/31/19		15,228		—

USD	305,789	CAD	412,335	HSBC Bank USA, N.A.		8/30/19		—		(9,438	)

USD	4,551,470	EUR	4,057,664	State Street Bank and Trust Company		8/30/19		—		(84,075	)

USD	396,769	EUR	350,000	State Street Bank and Trust Company		8/30/19		—		(3,077	)

USD	285,077	EUR	249,375	State Street Bank and Trust Company		8/30/19		187		—

USD	522,974	EUR	456,809	Deutsche Bank AG		9/30/19		—		(113	)

USD	11,981,213	EUR	10,465,907	HSBC Bank USA, N.A.		9/30/19		—		(3,165	)

							$	15,415	$	(193,370	)



CIDOR	–	Canada Three Month Interbank Rate

DIP	–	Debtor In Possession

EURIBOR	–	Euro Interbank Offered Rate

LIBOR	–	London Interbank Offered Rate

PIK	–	Payment In Kind



CAD	–	Canadian Dollar

EUR	–	Euro

GBP	–	British Pound Sterling

USD	–	United States Dollar


Assets	June 30, 2019

Unaffiliated investments, at value (identified cost, $421,163,299)	$	410,138,806

Affiliated investment, at value (identified cost, $3,194,436)		3,194,436

Cash		4,697,460

Foreign currency, at value (identified cost, $85,816)		85,827

Interest and dividends receivable		1,614,964

Dividends receivable from affiliated investment		8,686

Receivable for investments sold		4,986,700

Receivable for open forward foreign currency exchange contracts		15,415

Prepaid upfront fees on notes payable		86,816

Prepaid expenses		33,413

Total assets	$	424,862,523

Liabilities

Notes payable	$	103,000,000

Payable for investments purchased		14,351,882

Payable for when-issued securities		1,904,298

Payable for open forward foreign currency exchange contracts		193,370

Payable to affiliates:

Investment adviser fee		255,133

Administration fee		85,044

Trustees’ fees		5,755

Accrued expenses		532,003

Total liabilities	$	120,327,485

Commitments and contingencies (Note 13)

Auction preferred shares (1,504 shares outstanding) at liquidation value plus cumulative unpaid dividends	$	37,609,209

Net assets applicable to common shares	$	266,925,829

Sources of Net Assets

Common shares, $0.01 par value, unlimited number of shares authorized, 37,866,607 shares issued and outstanding	$	378,666

Additional paid-in capital		277,568,442

Accumulated loss		(11,021,279	)

Net assets applicable to common shares	$	266,925,829

Net Asset Value Per Common Share

($266,925,829 ÷ 37,866,607 common shares issued and outstanding)	$	7.05


Investment Income	Year Ended June 30, 2019

Interest and other income	$	23,219,516

Dividends		641,479

Dividends from affiliated investment		127,270

Total investment income	$	23,988,265

Expenses

Investment adviser fee	$	3,155,995

Administration fee		1,040,435

Trustees’ fees and expenses		26,740

Custodian fee		185,137

Transfer and dividend disbursing agent fees		20,245

Legal and accounting services		122,895

Printing and postage		44,880

Interest expense and fees		3,797,347

Preferred shares service fee		42,078

Miscellaneous		32,050

Total expenses	$	8,467,802

Net investment income	$	15,520,463

Realized and Unrealized Gain (Loss)

Net realized gain (loss) —

Investment transactions	$	778,323

Investment transactions — affiliated investment		753

Foreign currency transactions		34,146

Forward foreign currency exchange contracts		1,844,970

Net realized gain	$	2,658,192

Change in unrealized appreciation (depreciation) —

Investments	$	(8,799,622	)

Foreign currency		(29,699	)

Forward foreign currency exchange contracts		(491,053	)

Net change in unrealized appreciation (depreciation)	$	(9,320,374	)

Net realized and unrealized loss	$	(6,662,182	)

Distributions to preferred shareholders	$	(1,175,940	)

Discount on redemption and repurchase of auction preferred shares	$	1,920,000

Net increase in net assets from operations	$	9,602,341


	Year Ended June 30,
Increase (Decrease) in Net Assets	2019			2018

From operations —

Net investment income	$	15,520,463		$	14,578,151

Net realized gain		2,658,192			1,285,290

Net change in unrealized appreciation (depreciation)		(9,320,374	)		241,828

Distributions to preferred shareholders ⁽¹⁾		(1,175,940	)		(1,078,450	)

Discount on redemption and repurchase of auction preferred shares		1,920,000			—

Net increase in net assets from operations	$	9,602,341		$	15,026,819

Distributions to common shareholders ⁽¹⁾	$	(14,692,244	)	$	(13,821,312	)

Net increase (decrease) in net assets	$	(5,089,903	)	$	1,205,507

Net Assets Applicable to Common Shares

At beginning of year	$	272,015,732		$	270,810,225

At end of year	$	266,925,829		$	272,015,732	⁽²⁾


Cash Flows From Operating Activities	Year Ended June 30, 2019

Net increase in net assets from operations	$	9,602,341

Distributions to preferred shareholders		1,175,940

Discount on redemption and repurchase of auction preferred shares		(1,920,000	)

Net increase in net assets from operations excluding distributions to preferred shareholders and discount on redemption and repurchase of auction preferred shares	$	8,858,281

Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities:

Investments purchased		(110,215,062	)

Investments sold and principal repayments		116,972,982

Decrease in short-term investments, net		3,605,860

Net amortization/accretion of premium (discount)		(117,473	)

Amortization of prepaid upfront fees on notes payable		120,449

Increase in interest and dividends receivable		(380,202	)

Increase in dividends receivable from affiliated investment		(2,923	)

Decrease in receivable for open forward foreign currency exchange contracts		420,894

Increase in prepaid expenses		(5,426	)

Decrease in cash collateral due to brokers		(850,000	)

Increase in payable for open forward foreign currency exchange contracts		70,159

Decrease in payable to affiliate for investment adviser fee		(10,382	)

Decrease in payable to affiliate for administration fee		(2,296	)

Increase in payable to affiliate for Trustees’ fees		5,755

Decrease in accrued expenses		(69,714	)

Decrease in unfunded loan commitments		(516,781	)

Net change in unrealized (appreciation) depreciation from investments		8,799,622

Net realized gain from investments		(779,076	)

Net cash provided by operating activities	$	25,904,667

Cash Flows From Financing Activities

Cash distributions paid to common shareholders	$	(14,692,244	)

Cash distributions paid to preferred shareholders		(1,177,120	)

Liquidation of auction preferred shares		(22,080,000	)

Proceeds from notes payable		35,000,000

Repayments of notes payable		(25,000,000	)

Payment of upfront fees on notes payable		(137,329	)

Net cash used in financing activities	$	(28,086,693	)

Net decrease in cash and restricted cash*	$	(2,182,026	)

Cash and restricted cash at beginning of year (including foreign currency)	$	6,965,313

Cash and restricted cash at end of year (including foreign currency)	$	4,783,287

Supplemental disclosure of cash flow information:

Cash paid for interest and fees on borrowings	$	3,534,553


	June 30,
	2019		2018

Cash	$	4,697,460	$	4,537,683

Deposit for derivatives collateral — forward foreign currency exchange contracts		—		850,000

Foreign currency		85,827		1,577,630

Total cash and restricted cash as shown on the Statement of Cash Flows	$	4,783,287	$	6,965,313


	Year Ended June 30,
Ratios/Supplemental Data	2019			2018			2017			2016			2015

Net assets applicable to common shares, end of year (000’s omitted)	$	266,926		$	272,016		$	270,810		$	251,789		$	266,009

Ratios (as a percentage of average daily net assets applicable to common shares):⁽⁵⁾^†

Expenses excluding interest and fees⁽⁶⁾		1.73	%		1.82	%		1.87	%		1.96	%		1.99	%

Interest and fee expense⁽⁷⁾		1.40	%		0.83	%		0.52	%		0.28	%		0.28	%

Total expenses⁽⁶⁾		3.13	%		2.65	%		2.39	%		2.24	%		2.27	%

Net investment income		5.74	%		5.36	%		5.75	%		6.38	%		5.61	%

Portfolio Turnover		26	%		34	%		42	%		31	%		33	%

Senior Securities:

Total notes payable outstanding (in 000’s)	$	103,000		$	93,000		$	92,000		$	25,000		$	60,000

Asset coverage per $1,000 of notes payable⁽⁸⁾	$	3,957		$	4,587		$	4,613		$	15,472		$	7,267

Total preferred shares outstanding		1,504			2,464			2,464			4,400			4,400

Asset coverage per preferred share⁽⁹⁾	$	72,464		$	68,989		$	69,078		$	71,629		$	64,119

Involuntary liquidation preference per preferred share⁽¹⁰⁾	$	25,000		$	25,000		$	25,000		$	25,000		$	25,000

Approximate market value per preferred share⁽¹⁰⁾	$	25,000		$	25,000		$	25,000		$	25,000		$	25,000


	APS Redeemed During the Period		Redemption Amount		APS Issued and Outstanding

Series A		480	$	11,040,000		752

Series B		480		11,040,000		752


		6		See Notes to Financial Statements.


		7		See Notes to Financial Statements.


		8		See Notes to Financial Statements.


		9		See Notes to Financial Statements.


	APS Dividend Rates at June 30, 2019			Dividends Accrued to APS Shareholders		Average APS Dividend Rates			Dividend Rate Ranges (%)

Series A		2.92	%	$	587,911		2.75	%		2.31–3.12

Series B		2.99			588,029		2.75			2.31–3.12



Undistributed ordinary income	$	961,262

Post October capital losses	$	(1,431,100	)

Net unrealized depreciation	$	(10,551,441	)



Aggregate cost	$	423,835,022

Gross unrealized appreciation	$	5,058,351

Gross unrealized depreciation		(15,560,131	)

Net unrealized depreciation	$	(10,501,780	)


Description	Date of Acquisition		Shares		Cost		Value

Common Stocks

Nine Point Energy Holdings, Inc.		7/15/14		325	$	15,070	$	3

Convertible Preferred Stocks

Nine Point Energy Holdings, Inc., Series A, 12.00%		5/26/17		5		5,000		4,052

Total Restricted Securities					$	20,070	$	4,055


	Fair Value
Derivative	Asset Derivative⁽¹⁾		Liability Derivative⁽²⁾

Forward foreign currency exchange contracts	$	15,415	$	(193,370	)


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)

State Street Bank and Trust Company	$	15,415		$	(15,415	)	$	—	$	—	$	—

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)

Deutsche Bank AG	$	(113	)	$	—		$	—	$	—	$	(113	)

Goldman Sachs International		(70,420	)		—			—		—		(70,420	)

HSBC Bank USA, N.A.		(20,700	)		—			—		—		(20,700	)

State Street Bank and Trust Company		(102,137	)		15,415			—		—		(86,722	)

	$	(193,370	)	$	15,415		$	—	$	—	$	(177,955	)


Derivative	Realized Gain (Loss) on Derivatives Recognized in Income⁽¹⁾		Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income⁽²⁾

Forward foreign currency exchange contracts	$	1,844,970	$	(491,053	)


Asset Description	Level 1		Level 2			Level 3*		Total

Senior Floating-Rate Loans (Less Unfunded Loan Commitments)	$	—	$	358,190,361		$	1,339,412	$	359,529,773

Corporate Bonds & Notes		—		31,407,428			—		31,407,428

Asset-Backed Securities		—		8,943,586			—		8,943,586

Common Stocks		550,730		1,506,299			2,935,628		4,992,657

Convertible Preferred Stocks		—		—			4,052		4,052

Closed-End Funds		5,247,224		—			—		5,247,224

Miscellaneous		—		14,086			0		14,086

Short-Term Investments		—		3,194,436			—		3,194,436

Total Investments	$	5,797,954	$	403,256,196		$	4,279,092	$	413,333,242

Forward Foreign Currency Exchange Contracts	$	—	$	15,415		$	—	$	15,415

Total	$	5,797,954	$	403,271,611		$	4,279,092	$	413,348,657

Liability Description

Forward Foreign Currency Exchange Contracts	$	—	$	(193,370	)	$	—	$	(193,370	)

Total	$	—	$	(193,370	)	$	—	$	(193,370	)


Name and Year of Birth	Position(s) with the Trust	Term Expiring. Trustee Since⁽¹⁾	Principal Occupation(s) and Other Directorships During Past Five Years and Other Relevant Experience

Interested Trustee

Thomas E. Faust Jr. 1958	Class I Trustee	Until 2020. Trustee since 2007.	Chairman, Chief Executive Officer and President of EVC, Director and President of EV, Chief Executive Officer and President of EVM and BMR, and Director of EVD. Trustee and/or officer of 168 registered investment companies. Mr. Faust is an interested person because of his positions with EVM, BMR, EVD, EVC and EV, which are affiliates of the Trust. Other Directorships in the Last Five Years.⁽²⁾ Director of EVC and Hexavest Inc. (investment management firm).

Noninterested Trustees

Mark R. Fetting 1954	Class II Trustee	Until 2021. Trustee since 2016.	Private investor. Formerly held various positions at Legg Mason, Inc. (investment management firm) (2000-2012), including President, Chief Executive Officer, Director and Chairman (2008-2012), Senior Executive Vice President (2004-2008) and Executive Vice President (2001-2004). Formerly, President of Legg Mason family of funds (2001-2008). Formerly, Division President and Senior Officer of Prudential Financial Group, Inc. and related companies (investment management firm) (1991-2000). Other Directorships in the Last Five Years. None.

Cynthia E. Frost 1961	Class I Trustee	Until 2020. Trustee since 2014.	Private investor. Formerly, Chief Investment Officer of Brown University (university endowment) (2000-2012). Formerly, Portfolio Strategist for Duke Management Company (university endowment manager) (1995-2000). Formerly, Managing Director, Cambridge Associates (investment consulting company) (1989-1995). Formerly, Consultant, Bain and Company (management consulting firm) (1987-1989). Formerly, Senior Equity Analyst, BA Investment Management Company (1983-1985). Other Directorships in the Last Five Years. None.

George J. Gorman 1952	Class III Trustee	Until 2019. Trustee since 2014.	Principal at George J. Gorman LLC (consulting firm). Formerly, Senior Partner at Ernst & Young LLP (a registered public accounting firm) (1974-2009). Other Directorships in the Last Five Years. Formerly, Trustee of the BofA Funds Series Trust (11 funds) (2011-2014) and of the Ashmore Funds (9 funds) (2010-2014).

Valerie A. Mosley 1960	Class I Trustee⁽³⁾	Until 2020. Trustee since 2014.	Chairwoman and Chief Executive Officer of Valmo Ventures (a consulting and investment firm). Former Partner and Senior Vice President, Portfolio Manager and Investment Strategist at Wellington Management Company, LLP (investment management firm) (1992-2012). Former Chief Investment Officer, PG Corbin Asset Management (1990-1992). Formerly worked in institutional corporate bond sales at Kidder Peabody (1986-1990). Other Directorships in the Last Five Years.⁽²⁾ Director of Envestnet, Inc. (provider of intelligent systems for wealth management and financial wellness) (since 2018). Director of Dynex Capital, Inc. (mortgage REIT) (since 2013).


Name and Year of Birth	Position(s) with the Trust	Officer Since⁽⁵⁾	Principal Occupation(s) During Past Five Years

Principal Officers who are not Trustees

Payson F. Swaffield 1956	President	2003	Vice President and Chief Income Investment Officer of EVM and BMR. Also Vice President of Calvert Research and Management (“CRM”) since 2016.

Maureen A. Gemma 1960	Vice President, Secretary and Chief Legal Officer	2005	Vice President of EVM and BMR. Also Vice President of CRM since 2016.


Fiscal Years Ended	06/30/18		06/30/19
Audit Fees	$	100,750	$	100,000
Audit-Related Fees⁽¹⁾	$	0	$	0
Tax Fees⁽²⁾	$	21,900	$	21,306
All Other Fees⁽³⁾	$	0	$	0

Total	$	122,650	$	121,306


	Number of All Accounts		Total Assets of All Accounts		Number of Accounts Paying a Performance Fee		Total Assets of Accounts Paying a Performance Fee
William E. Holt
Registered Investment Companies		5	$	2,813.8		0	$	0
Other Pooled Investment Vehicles		0	$	0		0	$	0
Other Accounts		0	$	0		0	$	0

Catherine C. McDermott
Registered Investment Companies		8	$	5,771.2		0	$	0
Other Pooled Investment Vehicles		0	$	0		0	$	0
Other Accounts		0	$	0		0	$	0

Daniel P. McElaney
Registered Investment Companies		5	$	2,813.8		0	$	0
Other Pooled Investment Vehicles		0	$	0		0	$	0
Other Accounts		0	$	0		0	$	0

Scott H. Page
Registered Investment Companies		14	$	28,836.2		0	$	0
Other Pooled Investment Vehicles		10	$	8,350.8		0	$	0
Other Accounts		5	$	4,933.4		0	$	0

John P. Redding
Registered Investment Companies		3	$	851.6		0	$	0
Other Pooled Investment Vehicles		2	$	77.1		0	$	0
Other Accounts		0	$	0		0	$	0

Andrew N. Sveen
Registered Investment Companies		11	$	25,878.8		0	$	0
Other Pooled Investment Vehicles		0	$	0		0	$	0
Other Accounts		0	$	0		0	$	0


Portfolio Manager		Dollar Range of Equity Securities Beneficially Owned in the Trust
William E. Holt		None
Catherine C. McDermott		None
Daniel P. McElaney		None
Scott H. Page		$100,001 - $500,000
John P. Redding		$100,001 - $500,000
Andrew N. Sveen		None


(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.


Eaton Vance Senior Income Trust

By:		/s/ Payson F. Swaffield
		Payson F. Swaffield
		President

Date:		August 26, 2019


By:		/s/ James F. Kirchner
		James F. Kirchner
		Treasurer

Date:		August 26, 2019

By:		/s/ Payson F. Swaffield
		Payson F. Swaffield
		President

Date:		August 26, 2019