SENIOR DEBT PORTFOLIO Form N-CSR Filed 2023-12-27

Date: December 22, 2023

/s/ James F. Kirchner

James F. Kirchner

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments

Asset-Backed Securities — 4.9%

Security	Principal Amount (000's omitted)		Value
Alinea CLO, Ltd.:
Series 2018-1A, Class D, 8.777%, (3 mo. SOFR + 3.362%), 7/20/31⁽¹⁾⁽²⁾	$	2,500	$ 2,403,450
Series 2018-1A, Class E, 11.677%, (3 mo. SOFR + 6.262%), 7/20/31⁽¹⁾⁽²⁾		3,000	2,621,361
AMMC CLO 15, Ltd., Series 2014-15A, Class ERR, 12.566%, (3 mo. SOFR + 7.172%), 1/15/32⁽¹⁾⁽²⁾		5,000	4,394,235
AMMC CLO XII, Ltd., Series 2013-12A, Class ER, 11.807%, (3 mo. SOFR + 6.442%), 11/10/30⁽¹⁾⁽²⁾		3,525	3,009,589
Apidos CLO XX, Series 2015-20A, Class DR, 11.356%, (3 mo. SOFR + 5.962%), 7/16/31⁽¹⁾⁽²⁾		2,375	2,135,332
Ares Loan Funding II, Ltd., Series 2022-ALF2A, Class ER, 13.656%, (3 mo. SOFR + 8.24%), 10/20/36⁽¹⁾⁽²⁾		1,675	1,642,003
Ares LVlll CLO, Ltd., Series 2020-58A, Class ER, 12.094%, (3 mo. SOFR + 6.70%), 1/15/35⁽¹⁾⁽²⁾		3,000	2,733,831
Ares XLIX CLO, Ltd., Series 2018-49A, Class D, 8.674%, (3 mo. SOFR + 3.262%), 7/22/30⁽¹⁾⁽²⁾		2,500	2,395,640
Ares XXXIIR CLO, Ltd.:
Series 2014-32RA, Class C, 8.526%, (3 mo. SOFR + 3.162%), 5/15/30⁽¹⁾⁽²⁾		5,000	4,754,640
Series 2014-32RA, Class D, 11.476%, (3 mo. SOFR + 6.111%), 5/15/30⁽¹⁾⁽²⁾		1,000	856,831
Ares XXXVR CLO, Ltd., Series 2015-35RA, Class E, 11.356%, (3 mo. SOFR + 5.962%), 7/15/30⁽¹⁾⁽²⁾		4,000	3,552,104
Babson CLO, Ltd.:
Series 2015-1A, Class DR, 8.277%, (3 mo. SOFR + 2.862%), 1/20/31⁽¹⁾⁽²⁾		2,500	2,362,727
Series 2018-1A, Class C, 8.256%, (3 mo. SOFR + 2.862%), 4/15/31⁽¹⁾⁽²⁾		3,500	3,276,546
Bain Capital Credit CLO, Ltd., Series 2018-1A, Class D, 8.374%, (3 mo. SOFR + 2.962%), 4/23/31⁽¹⁾⁽²⁾		5,000	4,651,770
Battalion CLO XXII, Ltd., Series 2021-22A, Class E, 12.627%, (3 mo. SOFR + 7.212%), 1/20/35⁽¹⁾⁽²⁾		1,750	1,482,668
Battalion CLO XXIII, Ltd., Series 2022-23A, Class D, 9.344%, (3 mo. SOFR + 3.95%), 5/19/36⁽¹⁾⁽²⁾		3,500	3,230,965
Benefit Street Partners CLO V-B, Ltd., Series 2018-5BA, Class D, 11.627%, (3 mo. SOFR + 6.212%), 4/20/31⁽¹⁾⁽²⁾		3,500	3,250,653
Benefit Street Partners CLO VIII, Ltd., Series 2015-8A, Class DR, 11.277%, (3 mo. SOFR + 5.862%), 1/20/31⁽¹⁾⁽²⁾		5,401	4,544,758
Benefit Street Partners CLO XIV, Ltd., Series 2018-14A, Class D, 8.277%, (3 mo. SOFR + 2.862%), 4/20/31⁽¹⁾⁽²⁾		1,500	1,419,594
Benefit Street Partners CLO XVI, Ltd., Series 2018-16A, Class E, 12.364%, (3 mo. SOFR + 6.962%), 1/17/32⁽¹⁾⁽²⁾		2,250	2,108,072

Security	Principal Amount (000's omitted)		Value
Benefit Street Partners CLO XVII, Ltd., Series 2019-17A, Class ER, 12.006%, (3 mo. SOFR + 6.612%), 7/15/32⁽¹⁾⁽²⁾	$	1,750	$ 1,677,869
Benefit Street Partners CLO XXII, Ltd., Series 2020-22A, Class ER, 12.346%, (3 mo. SOFR + 6.93%), 4/20/35⁽¹⁾⁽²⁾		1,000	930,082
Benefit Street Partners CLO XXV, Ltd., Series 2021-25A, Class E, 12.506%, (3 mo. SOFR + 7.112%), 1/15/35⁽¹⁾⁽²⁾		3,000	2,845,206
Betony CLO 2, Ltd.:
Series 2018-1A, Class C, 8.552%, (3 mo. SOFR + 3.162%), 4/30/31⁽¹⁾⁽²⁾		2,500	2,387,102
Series 2018-1A, Class D, 11.302%, (3 mo. SOFR + 5.912%), 4/30/31⁽¹⁾⁽²⁾		2,525	2,222,104
BlueMountain CLO XXIV, Ltd., Series 2019-24A, Class ER, 12.517%, (3 mo. SOFR + 7.102%), 4/20/34⁽¹⁾⁽²⁾		1,250	1,100,115
BlueMountain CLO XXVI, Ltd., Series 2019-26A, Class ER, 12.807%, (3 mo. SOFR + 7.392%), 10/20/34⁽¹⁾⁽²⁾		3,000	2,781,324
BlueMountain CLO XXX, Ltd., Series 2020-30A, Class ER, 12.094%, (3 mo. SOFR + 6.70%), 4/15/35⁽¹⁾⁽²⁾		2,000	1,779,092
BlueMountain CLO XXXIII, Ltd., Series 2021-33A, Class E, 12.471%, (3 mo. SOFR + 7.092%), 11/20/34⁽¹⁾⁽²⁾		2,500	2,322,227
BlueMountain CLO XXXV, Ltd., Series 2022-35A, Class E, 13.162%, (3 mo. SOFR + 7.75%), 7/22/35⁽¹⁾⁽²⁾		2,000	1,884,938
BlueMountain CLO, Ltd.:
Series 2015-3A, Class CR, 8.277%, (3 mo. SOFR + 2.862%), 4/20/31⁽¹⁾⁽²⁾		5,000	4,652,830
Series 2015-3A, Class DR, 11.077%, (3 mo. SOFR + 5.662%), 4/20/31⁽¹⁾⁽²⁾		3,000	2,510,772
Series 2016-3A, Class DR, 8.726%, (3 mo. SOFR + 3.362%), 11/15/30⁽¹⁾⁽²⁾		1,500	1,375,377
Series 2016-3A, Class ER, 11.576%, (3 mo. SOFR + 6.212%), 11/15/30⁽¹⁾⁽²⁾		1,500	1,224,608
Series 2018-1A, Class D, 8.702%, (3 mo. SOFR + 3.312%), 7/30/30⁽¹⁾⁽²⁾		2,500	2,266,957
Series 2018-1A, Class E, 11.602%, (3 mo. SOFR + 6.212%), 7/30/30⁽¹⁾⁽²⁾		2,000	1,534,322
Bryant Park Funding, Ltd.:
Series 2023-20A, Class D, 11.449%, (3 mo. SOFR + 6.09%), 7/15/36⁽¹⁾⁽²⁾		5,250	5,116,156
Series 2023-21A, Class D, 10.935%, (3 mo. SOFR + 5.45%), 10/18/36⁽¹⁾⁽²⁾		4,475	4,445,599
Canyon Capital CLO, Ltd.:
Series 2012-1RA, Class E, 11.356%, (3 mo. SOFR + 5.962%), 7/15/30⁽¹⁾⁽²⁾		4,875	4,244,814
Series 2016-1A, Class ER, 11.406%, (3 mo. SOFR + 6.012%), 7/15/31⁽¹⁾⁽²⁾		4,000	3,392,436

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Security	Principal Amount (000's omitted)		Value
Canyon Capital CLO, Ltd.: (continued)
Series 2016-2A, Class ER, 11.656%, (3 mo. SOFR + 6.262%), 10/15/31⁽¹⁾⁽²⁾	$	4,500	$ 3,826,125
Series 2018-1A, Class D, 8.556%, (3 mo. SOFR + 3.162%), 7/15/31⁽¹⁾⁽²⁾		3,000	2,848,887
Series 2018-1A, Class E, 11.406%, (3 mo. SOFR + 6.012%), 7/15/31⁽¹⁾⁽²⁾		2,750	2,345,882
Series 2019-2A, Class ER, 12.406%, (3 mo. SOFR + 7.011%), 10/15/34⁽¹⁾⁽²⁾		1,500	1,360,722
Carlyle CLO C17, Ltd.:
Series C17A, Class CR, 8.452%, (3 mo. SOFR + 3.062%), 4/30/31⁽¹⁾⁽²⁾		5,000	4,680,700
Series C17A, Class DR, 11.652%, (3 mo. SOFR + 6.262%), 4/30/31⁽¹⁾⁽²⁾		3,500	2,841,314
Carlyle Global Market Strategies CLO, Ltd.:
Series 2012-3A, Class CR2, 9.156%, (3 mo. SOFR + 3.762%), 1/14/32⁽¹⁾⁽²⁾		2,500	2,408,155
Series 2012-3A, Class DR2, 12.156%, (3 mo. SOFR + 6.761%), 1/14/32⁽¹⁾⁽²⁾		1,500	1,251,521
Series 2014-3RA, Class C, 8.599%, (3 mo. SOFR + 3.212%), 7/27/31⁽¹⁾⁽²⁾		1,000	924,119
Series 2014-3RA, Class D, 11.049%, (3 mo. SOFR + 5.662%), 7/27/31⁽¹⁾⁽²⁾		2,150	1,877,116
Series 2014-4RA, Class C, 8.556%, (3 mo. SOFR + 3.162%), 7/15/30⁽¹⁾⁽²⁾		2,750	2,542,001
Series 2014-4RA, Class D, 11.306%, (3 mo. SOFR + 5.912%), 7/15/30⁽¹⁾⁽²⁾		1,500	1,206,492
Carlyle US CLO, Ltd.:
Series 2019-4A, Class DR, 11.994%, (3 mo. SOFR + 6.60%), 4/15/35⁽¹⁾⁽²⁾		3,000	2,658,969
Series 2022-6A, Class DR, 10.13%, (3 mo. SOFR + 4.75%), 10/25/36⁽¹⁾⁽²⁾		2,800	2,809,523
CarVal CLO IV, Ltd., Series 2021-1A, Class E, 12.277%, (3 mo. SOFR + 6.862%), 7/20/34⁽¹⁾⁽²⁾		1,000	975,659
CIFC Funding, Ltd., Series 2022-4A, Class D, 8.944%, (3 mo. SOFR + 3.55%), 7/16/35⁽¹⁾⁽²⁾		1,750	1,725,726
Crown City CLO I, Series 2020-1A, Class DR, 12.677%, (3 mo. SOFR + 7.262%), 7/20/34⁽¹⁾⁽²⁾		250	223,087
Dryden CLO, Ltd.:
Series 2018-55A, Class D, 8.506%, (3 mo. SOFR + 3.112%), 4/15/31⁽¹⁾⁽²⁾		1,500	1,399,137
Series 2018-55A, Class E, 11.056%, (3 mo. SOFR + 5.662%), 4/15/31⁽¹⁾⁽²⁾		2,000	1,749,672
Series 2022-112A, Class E, 13.145%, (3 mo. SOFR + 7.78%), 8/15/34⁽¹⁾⁽²⁾		2,000	1,973,216
Dryden Senior Loan Fund:
Series 2015-41A, Class DR, 8.256%, (3 mo. SOFR + 2.862%), 4/15/31⁽¹⁾⁽²⁾		7,000	6,498,611
Series 2015-41A, Class ER, 10.956%, (3 mo. SOFR + 5.562%), 4/15/31⁽¹⁾⁽²⁾		1,268	989,947
Series 2016-42A, Class DR, 8.586%, (3 mo. SOFR + 3.192%), 7/15/30⁽¹⁾⁽²⁾		2,500	2,348,357
Series 2016-42A, Class ER, 11.206%, (3 mo. SOFR + 5.812%), 7/15/30⁽¹⁾⁽²⁾		3,500	2,953,135

Security	Principal Amount (000's omitted)		Value
Elmwood CLO 14, Ltd., Series 2022-1A, Class E, 11.766%, (3 mo. SOFR + 6.35%), 4/20/35⁽¹⁾⁽²⁾	$	1,950	$ 1,875,321
Elmwood CLO 17, Ltd., Series 2022-4A, Class E, 12.553%, (3 mo. SOFR + 7.15%), 7/17/35⁽¹⁾⁽²⁾		2,000	1,981,362
Empower CLO, Ltd., Series 2023-2A, Class D, 10.74%, (3 mo. SOFR + 5.40%), 7/15/36⁽¹⁾⁽²⁾		2,000	1,995,574
Galaxy XXV CLO, Ltd.:
Series 2015-19A, Class D1R, 12.19%, (3 mo. SOFR + 6.792%), 7/24/30⁽¹⁾⁽²⁾		2,000	1,769,058
Series 2018-25A, Class D, 8.74%, (3 mo. SOFR + 3.362%), 10/25/31⁽¹⁾⁽²⁾		2,500	2,438,492
Series 2018-25A, Class E, 11.59%, (3 mo. SOFR + 6.211%), 10/25/31⁽¹⁾⁽²⁾		3,500	3,098,378
Golub Capital Partners CLO 37B, Ltd.:
Series 2018-37A, Class D, 8.977%, (3 mo. SOFR + 3.562%), 7/20/30⁽¹⁾⁽²⁾		4,000	3,709,444
Series 2018-37A, Class E, 11.427%, (3 mo. SOFR + 6.012%), 7/20/30⁽¹⁾⁽²⁾		4,750	4,695,978
Golub Capital Partners CLO 53B, Ltd., Series 2021-53A, Class E, 12.377%, (3 mo. SOFR + 6.962%), 7/20/34⁽¹⁾⁽²⁾		1,250	1,141,728
Golub Capital Partners CLO 58B, Ltd., Series 2021-58A, Class E, 12.45%, (3 mo. SOFR + 7.072%), 1/25/35⁽¹⁾⁽²⁾		2,500	2,306,540
Golub Capital Partners CLO, Ltd., Series 2020-48A, Class D, 9.464%, (3 mo. SOFR + 4.062%), 4/17/33⁽¹⁾⁽²⁾		2,000	1,881,668
Halseypoint CLO 5, Ltd., Series 2021-5A, Class E, 12.592%, (3 mo. SOFR + 7.202%), 1/30/35⁽¹⁾⁽²⁾		2,000	1,821,042
Harriman Park CLO, Ltd., Series 2020-1A, Class ER, 12.077%, (3 mo. SOFR + 6.662%), 4/20/34⁽¹⁾⁽²⁾		1,000	929,261
ICG US CLO, Ltd.:
Series 2018-2A, Class D, 8.774%, (3 mo. SOFR + 3.362%), 7/22/31⁽¹⁾⁽²⁾		2,000	1,844,714
Series 2018-2A, Class E, 11.424%, (3 mo. SOFR + 6.012%), 7/22/31⁽¹⁾⁽²⁾		3,000	2,468,892
Madison Park Funding LIX, Ltd., Series 2021-59A, Class E, 12.257%, (3 mo. SOFR + 6.862%), 1/18/34⁽¹⁾⁽²⁾		1,550	1,447,717
Madison Park Funding XXXVI, Ltd., Series 2019-36A, Class ER, 12.444%, (3 mo. SOFR + 7.05%), 4/15/35⁽¹⁾⁽²⁾		2,500	2,464,607
Marble Point CLO XXIV, Ltd., Series 2022-1A, Class D1, 9.656%, (3 mo. SOFR + 4.24%), 4/20/35⁽¹⁾⁽²⁾		2,000	1,948,968
Neuberger Berman CLO XVIII, Ltd., Series 2014-18A, Class DR2, 11.594%, (3 mo. SOFR + 6.182%), 10/21/30⁽¹⁾⁽²⁾		2,000	1,857,866
Neuberger Berman CLO XXII, Ltd.:
Series 2016-22A, Class DR, 8.764%, (3 mo. SOFR + 3.362%), 10/17/30⁽¹⁾⁽²⁾		2,500	2,405,505
Series 2016-22A, Class ER, 11.724%, (3 mo. SOFR + 6.322%), 10/17/30⁽¹⁾⁽²⁾		3,000	2,729,217

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Security	Principal Amount (000's omitted)		Value
Neuberger Berman Loan Advisers CLO 28, Ltd., Series 2018-28A, Class E, 11.277%, (3 mo. SOFR + 5.862%), 4/20/30⁽¹⁾⁽²⁾	$	1,950	$ 1,712,176
Neuberger Berman Loan Advisers CLO 48, Ltd., Series 2022-48A, Class E, 11.878%, (3 mo. SOFR + 6.50%), 4/25/36⁽¹⁾⁽²⁾		2,600	2,473,812
OCP CLO, Ltd.:
Series 2022-24A, Class D, 9.216%, (3 mo. SOFR + 3.80%), 7/20/35⁽¹⁾⁽²⁾		500	472,812
Series 2022-24A, Class E, 12.836%, (3 mo. SOFR + 7.42%), 7/20/35⁽¹⁾⁽²⁾		1,000	966,488
Palmer Square CLO, Ltd.:
Series 2013-2A, Class DRR, 11.514%, (3 mo. SOFR + 6.111%), 10/17/31⁽¹⁾⁽²⁾		1,425	1,334,976
Series 2015-1A, Class DR4, 12.141%, (3 mo. SOFR + 6.762%), 5/21/34⁽¹⁾⁽²⁾		2,000	1,847,830
Series 2018-1A, Class D, 10.807%, (3 mo. SOFR + 5.412%), 4/18/31⁽¹⁾⁽²⁾		2,000	1,881,298
Series 2018-2A, Class D, 11.256%, (3 mo. SOFR + 5.862%), 7/16/31⁽¹⁾⁽²⁾		2,000	1,928,870
Series 2021-2A, Class E, 12.006%, (3 mo. SOFR + 6.612%), 7/15/34⁽¹⁾⁽²⁾		1,000	962,846
Series 2022-1A, Class E, 11.766%, (3 mo. SOFR + 6.35%), 4/20/35⁽¹⁾⁽²⁾		5,500	5,306,378
RAD CLO 5, Ltd., Series 2019-5A, Class E, 12.36%, (3 mo. SOFR + 6.962%), 7/24/32⁽¹⁾⁽²⁾		1,250	1,169,161
RAD CLO 11, Ltd., Series 2021-11A, Class E, 11.906%, (3 mo. SOFR + 6.512%), 4/15/34⁽¹⁾⁽²⁾		750	711,525
RAD CLO 14, Ltd., Series 2021-14A, Class E, 12.156%, (3 mo. SOFR + 6.762%), 1/15/35⁽¹⁾⁽²⁾		1,050	983,733
Regatta XIII Funding, Ltd.:
Series 2018-2A, Class C, 8.756%, (3 mo. SOFR + 3.362%), 7/15/31⁽¹⁾⁽²⁾		2,500	2,432,925
Series 2018-2A, Class D, 11.606%, (3 mo. SOFR + 6.212%), 7/15/31⁽¹⁾⁽²⁾		5,000	4,067,035
Regatta XIV Funding, Ltd.:
Series 2018-3A, Class D, 8.84%, (3 mo. SOFR + 3.462%), 10/25/31⁽¹⁾⁽²⁾		2,500	2,442,735
Series 2018-3A, Class E, 11.59%, (3 mo. SOFR + 6.211%), 10/25/31⁽¹⁾⁽²⁾		2,000	1,801,678
Regatta XV Funding, Ltd., Series 2018-4A, Class D, 12.14%, (3 mo. SOFR + 6.762%), 10/25/31⁽¹⁾⁽²⁾		2,875	2,543,044
Symphony CLO, Ltd., Series 2022-37A, Class D1, 10.846%, (3 mo. SOFR + 5.43%), 10/20/34⁽¹⁾⁽²⁾		2,500	2,518,007
Upland CLO, Ltd.:
Series 2016-1A, Class CR, 8.577%, (3 mo. SOFR + 3.162%), 4/20/31⁽¹⁾⁽²⁾		4,500	4,239,504
Series 2016-1A, Class DR, 11.577%, (3 mo. SOFR + 6.162%), 4/20/31⁽¹⁾⁽²⁾		2,125	1,920,182
Vibrant CLO IX, Ltd.:
Series 2018-9A, Class C, 8.877%, (3 mo. SOFR + 3.462%), 7/20/31⁽¹⁾⁽²⁾		2,500	2,231,463

Security	Principal Amount (000's omitted)		Value
Vibrant CLO IX, Ltd.: (continued)
Series 2018-9A, Class D, 11.927%, (3 mo. SOFR + 6.512%), 7/20/31⁽¹⁾⁽²⁾	$	3,500	$ 2,432,773
Vibrant CLO X, Ltd.:
Series 2018-10A, Class C, 8.927%, (3 mo. SOFR + 3.512%), 10/20/31⁽¹⁾⁽²⁾		5,000	4,605,920
Series 2018-10A, Class D, 11.867%, (3 mo. SOFR + 6.452%), 10/20/31⁽¹⁾⁽²⁾		5,000	3,719,755
Voya CLO, Ltd.:
Series 2014-1A, Class DR2, 11.657%, (3 mo. SOFR + 6.262%), 4/18/31⁽¹⁾⁽²⁾		3,250	2,613,543
Series 2015-3A, Class CR, 8.827%, (3 mo. SOFR + 3.412%), 10/20/31⁽¹⁾⁽²⁾		2,500	2,177,888
Series 2015-3A, Class DR, 11.877%, (3 mo. SOFR + 6.462%), 10/20/31⁽¹⁾⁽²⁾		5,500	4,405,318
Series 2016-3A, Class CR, 8.907%, (3 mo. SOFR + 3.512%), 10/18/31⁽¹⁾⁽²⁾		2,000	1,813,576
Series 2016-3A, Class DR, 11.737%, (3 mo. SOFR + 6.342%), 10/18/31⁽¹⁾⁽²⁾		2,375	1,880,140
Webster Park CLO, Ltd.:
Series 2015-1A, Class CR, 8.577%, (3 mo. SOFR + 3.162%), 7/20/30⁽¹⁾⁽²⁾		2,000	1,925,990
Series 2015-1A, Class DR, 11.177%, (3 mo. SOFR + 5.762%), 7/20/30⁽¹⁾⁽²⁾		2,500	2,130,353
Wellfleet CLO, Ltd.:
Series 2021-3A, Class E, 12.756%, (3 mo. SOFR + 7.362%), 1/15/35⁽¹⁾⁽²⁾		1,050	884,497
Series 2022-1A, Class D, 9.534%, (3 mo. SOFR + 4.14%), 4/15/34⁽¹⁾⁽²⁾		1,000	945,569
Series 2022-1A, Class E, 13.254%, (3 mo. SOFR + 7.86%), 4/15/34⁽¹⁾⁽²⁾		2,300	2,130,223
Series 2022-2A, Class E, 13.955%, (3 mo. SOFR + 8.56%), 10/18/35⁽¹⁾⁽²⁾		1,000	990,339
Total Asset-Backed Securities (identified cost $315,618,680)			$ 287,354,466

Common Stocks — 0.7%

Security	Shares		Value
Aerospace and Defense — 0.0%
IAP Global Services, LLC^(3)(4)(5)		168	$ 0
			$ 0
Chemicals — 0.0%
Flint Campfire Topco, Ltd., Class A^(3)(4)(5)		4,095,976	$ 0
			$ 0
Commercial Services & Supplies — 0.1%
Monitronics International, Inc.⁽⁴⁾⁽⁵⁾		199,603	$ 4,191,663

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Security	Shares		Value
Commercial Services & Supplies (continued)
Phoenix Services International, LLC⁽⁴⁾⁽⁵⁾		291,132	$ 2,765,754
Phoenix Services International, LLC⁽⁴⁾⁽⁵⁾		26,562	252,339
			$ 7,209,756
Containers and Glass Products — 0.0%⁽⁶⁾
LG Newco Holdco, Inc.⁽⁴⁾⁽⁵⁾		342,076	$ 1,966,937
			$ 1,966,937
Electronics/Electrical — 0.0%⁽⁶⁾
Skillsoft Corp.⁽⁴⁾⁽⁵⁾		50,519	$ 949,757
			$ 949,757
Entertainment — 0.1%
New Cineworld, Ltd.⁽⁴⁾⁽⁵⁾		113,548	$ 2,427,088
			$ 2,427,088
Health Care — 0.0%
Akorn Holding Company, LLC^(3)(4)(5)		792,089	$ 0
			$ 0
Household Durables — 0.3%
Serta Simmons Bedding, Inc.⁽⁴⁾⁽⁵⁾		1,401,999	$ 19,627,986
Serta SSB Equipment Co.^(3)(4)(5)		1,401,999	0
			$ 19,627,986
Investment Companies — 0.0%⁽⁶⁾
Aegletes B.V.⁽⁴⁾⁽⁵⁾		138,671	$ 334,544
Jubilee Topco, Ltd., Class A⁽³⁾⁽⁴⁾		2,563,805	0
			$ 334,544
Nonferrous Metals/Minerals — 0.1%
ACNR Holdings, Inc., Class A⁽⁴⁾⁽⁵⁾		30,298	$ 2,590,479
			$ 2,590,479
Oil and Gas — 0.0%⁽⁶⁾
AFG Holdings, Inc.^(3)(4)(5)		281,241	$ 556,857
McDermott International, Ltd.⁽⁴⁾⁽⁵⁾		1,382,889	373,380
			$ 930,237
Pharmaceuticals — 0.0%⁽⁶⁾
Covis Midco 1 S.a.r.l., Class A⁽⁴⁾⁽⁵⁾		8,349	$ 4,258
Covis Midco 1 S.a.r.l., Class B⁽⁴⁾⁽⁵⁾		8,349	4,258
Covis Midco 1 S.a.r.l., Class C⁽⁴⁾⁽⁵⁾		8,349	4,258

Security	Shares		Value
Pharmaceuticals (continued)
Covis Midco 1 S.a.r.l., Class D⁽⁴⁾⁽⁵⁾		8,349	$ 4,258
Covis Midco 1 S.a.r.l., Class E⁽⁴⁾⁽⁵⁾		8,349	4,258
			$ 21,290
Retailers (Except Food and Drug) — 0.0%⁽⁶⁾
Phillips Pet Holding Corp.^(3)(4)(5)		2,960	$ 117,617
			$ 117,617
Telecommunications — 0.0%
Global Eagle Entertainment^(3)(4)(5)		390,679	$ 0
			$ 0
Utilities — 0.1%
Longview Intermediate Holdings, LLC, Class A⁽⁴⁾⁽⁵⁾		359,046	$ 2,897,502
			$ 2,897,502
Total Common Stocks (identified cost $79,555,952)			$ 39,073,193

Corporate Bonds — 10.3%

Security	Principal Amount* (000's omitted)		Value
Aerospace and Defense — 0.4%
TransDigm, Inc.:
6.25%, 3/15/26⁽¹⁾		1,500	$ 1,466,857
6.75%, 8/15/28⁽¹⁾		3,825	3,718,792
6.875%, 12/15/30⁽¹⁾		19,500	18,847,335
			$ 24,032,984
Air Transport — 0.6%
American Airlines, Inc./AAdvantage Loyalty IP, Ltd.:
5.50%, 4/20/26⁽¹⁾		16,083	$ 15,656,057
5.75%, 4/20/29⁽¹⁾		14,475	13,071,356
United Airlines, Inc.:
4.375%, 4/15/26⁽¹⁾		5,050	4,689,478
4.625%, 4/15/29⁽¹⁾		5,050	4,270,296
			$ 37,687,187
Automotive — 0.2%
Adient Global Holdings, Ltd., 7.00%, 4/15/28⁽¹⁾		2,650	$ 2,611,297

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Security	Principal Amount* (000's omitted)		Value
Automotive (continued)
Clarios Global, L.P., 6.75%, 5/15/25⁽¹⁾		2,183	$ 2,167,769
Clarios Global, L.P./Clarios US Finance Co., 6.25%, 5/15/26⁽¹⁾		4,478	4,382,269
			$ 9,161,335
Building and Development — 0.1%
Cushman & Wakefield U.S. Borrower, LLC, 6.75%, 5/15/28⁽¹⁾		7,493	$ 6,839,978
Winnebago Industries, Inc., 6.25%, 7/15/28⁽¹⁾		1,100	1,035,557
			$ 7,875,535
Business Equipment and Services — 1.0%
Allied Universal Holdco, LLC/Allied Universal Finance Corp., 6.625%, 7/15/26⁽¹⁾		2,475	$ 2,319,879
Allied Universal Holdco, LLC/Allied Universal Finance Corp./Atlas Luxco 4 S.a.r.l.:
4.625%, 6/1/28⁽¹⁾		20,725	16,908,433
4.625%, 6/1/28⁽¹⁾		27,575	22,582,678
Prime Security Services Borrower, LLC/Prime Finance, Inc., 5.75%, 4/15/26⁽¹⁾		17,950	17,431,027
			$ 59,242,017
Chemicals — 0.5%
Cheever Escrow Issuer, LLC, 7.125%, 10/1/27⁽¹⁾		1,075	$ 990,825
INEOS Finance PLC, 3.375%, 3/31/26⁽¹⁾	EUR	2,000	2,005,100
INEOS Quattro Finance 2 PLC, 3.375%, 1/15/26⁽¹⁾		5,464	5,223,966
Olympus Water US Holding Corp.:
4.25%, 10/1/28⁽¹⁾		10,050	8,029,649
9.75%, 11/15/28⁽¹⁾		11,400	11,148,641
			$ 27,398,181
Commercial Services — 0.3%
Neptune Bidco U.S., Inc., 9.29%, 4/15/29⁽¹⁾		21,600	$ 19,083,354
			$ 19,083,354
Containers & Packaging — 0.2%
Pactiv Evergreen Group Issuer, Inc./Pactiv Evergreen Group Issuer, LLC:
4.00%, 10/15/27⁽¹⁾		6,325	$ 5,525,828
4.375%, 10/15/28⁽¹⁾		10,100	8,603,411
			$ 14,129,239
Diversified Financial Services — 0.3%
AG Issuer, LLC, 6.25%, 3/1/28⁽¹⁾		11,581	$ 10,681,362

Security	Principal Amount* (000's omitted)		Value
Diversified Financial Services (continued)
AG TTMT Escrow Issuer, LLC, 8.625%, 9/30/27⁽¹⁾		3,350	$ 3,368,827
Aretec Escrow Issuer 2, Inc., 10.00%, 8/15/30⁽¹⁾⁽⁷⁾		5,375	5,442,188
			$ 19,492,377
Diversified Telecommunication Services — 1.0%
Altice France S.A.:
5.125%, 1/15/29⁽¹⁾		1,600	$ 1,105,958
5.125%, 7/15/29⁽¹⁾		55,000	37,694,052
5.50%, 10/15/29⁽¹⁾		6,455	4,445,207
Level 3 Financing, Inc., 3.875%, 11/15/29⁽¹⁾		11,175	9,968,071
Virgin Media Secured Finance PLC, 4.50%, 8/15/30⁽¹⁾		7,625	6,296,649
			$ 59,509,937
Drugs — 0.1%
Jazz Securities DAC, 4.375%, 1/15/29⁽¹⁾		10,050	$ 8,748,862
			$ 8,748,862
Ecological Services and Equipment — 0.1%
GFL Environmental, Inc., 4.25%, 6/1/25⁽¹⁾		6,025	$ 5,798,269
			$ 5,798,269
Electronics/Electrical — 0.4%
GoTo Group, Inc., 5.50%, 9/1/27⁽¹⁾		12,010	$ 6,276,551
Imola Merger Corp., 4.75%, 5/15/29⁽¹⁾		20,200	17,627,694
			$ 23,904,245
Entertainment — 0.1%
Live Nation Entertainment, Inc., 3.75%, 1/15/28⁽¹⁾		2,412	$ 2,114,118
Six Flags Theme Parks, Inc., 7.00%, 7/1/25⁽¹⁾		1,208	1,200,812
			$ 3,314,930
Health Care — 0.7%
Medline Borrower, L.P., 3.875%, 4/1/29⁽¹⁾		25,150	$ 21,259,312
Tenet Healthcare Corp., 4.25%, 6/1/29		25,375	21,742,876
			$ 43,002,188
Hotels, Restaurants & Leisure — 0.6%
Carnival Corp., 4.00%, 8/1/28⁽¹⁾		37,975	$ 33,062,736
SeaWorld Parks & Entertainment, Inc., 8.75%, 5/1/25⁽¹⁾		2,425	2,460,126
			$ 35,522,862

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Security	Principal Amount* (000's omitted)		Value
Household Products — 0.3%
Kronos Acquisition Holdings, Inc./KIK Custom Products, Inc., 5.00%, 12/31/26⁽¹⁾		16,969	$ 15,366,534
			$ 15,366,534
Insurance — 0.4%
Alliant Holdings Intermediate, LLC/Alliant Holdings Co., 4.25%, 10/15/27⁽¹⁾		700	$ 616,144
NFP Corp.:
4.875%, 8/15/28⁽¹⁾		7,025	6,158,031
7.50%, 10/1/30⁽¹⁾		3,350	3,176,167
8.50%, 10/1/31⁽¹⁾		10,725	10,555,187
			$ 20,505,529
Internet Software & Services — 0.3%
Central Parent, Inc./CDK Global, Inc., 7.25%, 6/15/29⁽¹⁾		15,225	$ 14,642,308
			$ 14,642,308
Leisure Goods/Activities/Movies — 0.4%
Lindblad Expeditions, LLC, 6.75%, 2/15/27⁽¹⁾		3,475	$ 3,169,825
NCL Corp., Ltd., 5.875%, 2/15/27⁽¹⁾		22,375	20,617,983
			$ 23,787,808
Machinery — 0.3%
Madison IAQ, LLC, 4.125%, 6/30/28⁽¹⁾		12,300	$ 10,286,928
TK Elevator U.S. Newco, Inc., 5.25%, 7/15/27⁽¹⁾		4,950	4,511,713
			$ 14,798,641
Media — 0.4%
iHeartCommunications, Inc.:
4.75%, 1/15/28⁽¹⁾		2,975	$ 2,107,986
5.25%, 8/15/27⁽¹⁾		2,500	1,834,505
6.375%, 5/1/26		1,159	946,222
8.375%, 5/1/27		2,101	1,290,215
Univision Communications, Inc.:
4.50%, 5/1/29⁽¹⁾		10,075	8,019,739
7.375%, 6/30/30⁽¹⁾		10,000	8,814,934
			$ 23,013,601
Oil, Gas & Consumable Fuels — 0.2%
CITGO Petroleum Corporation, 7.00%, 6/15/25⁽¹⁾		12,175	$ 11,975,879
			$ 11,975,879

Security	Principal Amount* (000's omitted)		Value
Professional Services — 0.1%
CoreLogic, Inc., 4.50%, 5/1/28⁽¹⁾		6,000	$ 4,761,360
			$ 4,761,360
Real Estate Investment Trusts (REITs) — 0.1%
Park Intermediate Holdings, LLC/PK Domestic Property, LLC/PK Finance Co-Issuer, 5.875%, 10/1/28⁽¹⁾		7,925	$ 7,145,576
			$ 7,145,576
Retail — 0.1%
Fertitta Entertainment, LLC/Fertitta Entertainment Finance Co., Inc., 4.625%, 1/15/29⁽¹⁾		6,790	$ 5,713,208
			$ 5,713,208
Retailers (Except Food and Drug) — 0.0%⁽⁶⁾
PetSmart, Inc./PetSmart Finance Corp., 4.75%, 2/15/28⁽¹⁾		1,575	$ 1,395,385
			$ 1,395,385
Software — 0.3%
Boxer Parent Co., Inc., 7.125%, 10/2/25⁽¹⁾		4,850	$ 4,789,375
Cloud Software Group, Inc., 9.00%, 9/30/29⁽¹⁾		12,100	10,315,311
Veritas US, Inc./Veritas Bermuda, Ltd., 7.50%, 9/1/25⁽¹⁾		4,000	3,277,710
			$ 18,382,396
Technology — 0.3%
Clarivate Science Holdings Corp., 3.875%, 7/1/28⁽¹⁾		12,575	$ 10,812,462
NCR Atleos Escrow Corp., 9.50%, 4/1/29⁽¹⁾		8,700	8,537,223
			$ 19,349,685
Telecommunications — 0.4%
LCPR Senior Secured Financing DAC, 5.125%, 7/15/29⁽¹⁾		17,200	$ 13,416,354
VMED O2 UK Financing I PLC, 4.25%, 1/31/31⁽¹⁾		10,575	8,328,044
			$ 21,744,398
Trading Companies & Distributors — 0.0%⁽⁶⁾
American Builders & Contractors Supply Co., Inc., 4.00%, 1/15/28⁽¹⁾		875	$ 786,373
			$ 786,373

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Security	Principal Amount* (000's omitted)		Value
Wireless Telecommunication Services — 0.1%
Digicel International Finance, Ltd./Digicel International Holdings, Ltd., 8.75%, 5/25/24⁽¹⁾		7,250	$ 6,659,342
			$ 6,659,342
Total Corporate Bonds (identified cost $693,166,182)			$ 607,931,525

Exchange-Traded Funds — 0.3%

Security	Shares		Value
SPDR Blackstone Senior Loan ETF		384,000	$ 15,955,200
Total Exchange-Traded Funds (identified cost $17,625,066)			$ 15,955,200

Preferred Stocks — 0.1%

Security	Shares		Value
Nonferrous Metals/Minerals — 0.1%
ACNR Holdings, Inc., 15.00% (PIK)⁽⁴⁾⁽⁵⁾		14,309	$ 7,359,595
Total Preferred Stocks (identified cost $0)			$ 7,359,595

Senior Floating-Rate Loans — 108.6%⁽⁸⁾

Borrower/Description	Principal Amount* (000's omitted)		Value
Aerospace and Defense — 2.7%
Aernnova Aerospace S.A.U.:
Term Loan, 6.783%, (3 mo. EURIBOR + 3.00%), 2/26/27	EUR	4,179	$ 4,272,127
Term Loan, 6.934%, (3 mo. EURIBOR + 3.00%), 2/26/27	EUR	1,071	1,095,417
AI Convoy (Luxembourg) S.a.r.l., Term Loan, 7.722%, (3 mo. EURIBOR + 3.50%), 1/18/27	EUR	4,300	4,428,979
Dynasty Acquisition Co., Inc.:
Term Loan, 9.324%, (SOFR + 4.00%), 8/24/28		37,242	36,875,857
Term Loan, 9.324%, (SOFR + 4.00%), 8/24/28		15,961	15,803,939
IAP Worldwide Services, Inc., Term Loan - Second Lien, 12.152%, (3 mo. USD LIBOR + 6.50%), 7/18/23⁽³⁾		1,184	904,120
TransDigm, Inc.:
Term Loan, 8.64%, (SOFR + 3.25%), 2/22/27		29,446	29,458,251
Term Loan, 8.64%, (SOFR + 3.25%), 8/24/28		34,729	34,722,348

Borrower/Description	Principal Amount* (000's omitted)		Value
Aerospace and Defense (continued)
WP CPP Holdings, LLC, Term Loan, 9.29%, (SOFR + 3.75%), 4/30/25		35,212	$ 33,944,111
			$ 161,505,149
Airlines — 0.6%
American Airlines, Inc., Term Loan, 10.427%, (SOFR + 4.75%), 4/20/28		32,400	$ 32,900,742
			$ 32,900,742
Apparel & Luxury Goods — 0.1%
Hanesbrands, Inc., Term Loan, 9.074%, (SOFR + 3.75%), 3/8/30		5,448	$ 5,386,339
			$ 5,386,339
Auto Components — 2.3%
Adient US, LLC, Term Loan, 8.689%, (SOFR + 3.25%), 4/10/28		7,981	$ 7,990,709
Autokiniton US Holdings, Inc., Term Loan, 9.939%, (SOFR + 4.50%), 4/6/28		22,289	21,889,252
Clarios Global, L.P., Term Loan, 7.118%, (1 mo. EURIBOR + 3.25%), 4/30/26	EUR	21,261	22,432,920
DexKo Global, Inc.:
Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 10/4/28	EUR	3,604	3,603,801
Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 10/4/28	EUR	8,046	8,045,089
Term Loan, 9.402%, (SOFR + 3.75%), 10/4/28		14,258	13,685,336
Garrett LX I S.a.r.l., Term Loan, 8.895%, (SOFR + 3.25%), 4/30/28		6,272	6,230,185
Garrett Motion, Inc., Term Loan, 9.883%, (SOFR + 4.50%), 4/30/28		9,429	9,452,143
LSF12 Badger Bidco, LLC, Term Loan, 11.324%, (SOFR + 6.00%), 8/30/30		4,000	3,995,000
LTI Holdings, Inc.:
Term Loan, 8.939%, (SOFR + 3.50%), 9/6/25		8,073	7,715,307
Term Loan, 10.189%, (SOFR + 4.75%), 7/24/26		8,607	8,255,196
RealTruck Group, Inc.:
Term Loan, 9.189%, (SOFR + 3.75%), 1/31/28		13,910	13,291,923
Term Loan, 10.406%, (SOFR + 5.00%), 1/31/28		8,950	8,583,605
			$ 135,170,466
Automobiles — 1.0%
Bombardier Recreational Products, Inc., Term Loan, 7.424%, (SOFR + 2.00%), 5/24/27		35,185	$ 34,921,139
MajorDrive Holdings IV, LLC:
Term Loan, 9.652%, (SOFR + 4.00%), 6/1/28		20,362	19,835,689

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Automobiles (continued)
MajorDrive Holdings IV, LLC: (continued)
Term Loan, 11.04%, (SOFR + 5.50%), 6/1/29		1,496	$ 1,483,111
			$ 56,239,939
Beverages — 0.6%
Arterra Wines Canada, Inc., Term Loan, 9.152%, (SOFR + 3.50%), 11/24/27		3,404	$ 3,222,564
City Brewing Company, LLC, Term Loan, 9.164%, (SOFR + 3.50%), 4/5/28		8,700	6,451,156
Triton Water Holdings, Inc., Term Loan, 8.902%, (SOFR + 3.25%), 3/31/28		25,515	24,247,685
			$ 33,921,405
Biotechnology — 0.5%
Alkermes, Inc., Term Loan, 7.949%, (SOFR + 2.50%), 3/12/26		12,702	$ 12,606,930
Alltech, Inc., Term Loan, 9.439%, (SOFR + 4.00%), 10/13/28		6,842	6,696,628
Grifols Worldwide Operations USA, Inc., Term Loan, 7.424%, (SOFR + 2.00%), 11/15/27		9,268	9,027,382
			$ 28,330,940
Building Products — 1.0%
Cornerstone Building Brands, Inc., Term Loan, 8.685%, (SOFR + 3.25%), 4/12/28		17,967	$ 17,132,640
CPG International, Inc., Term Loan, 7.924%, (SOFR + 2.50%), 4/28/29		14,801	14,798,650
LHS Borrower, LLC, Term Loan, 10.174%, (SOFR + 4.75%), 2/16/29		6,697	5,876,506
MI Windows and Doors, LLC, Term Loan, 8.924%, (SOFR + 3.50%), 12/18/27		6,351	6,358,445
Standard Industries, Inc., Term Loan, 7.953%, (SOFR + 2.50%), 9/22/28		13,029	13,063,965
			$ 57,230,206
Capital Markets — 6.0%
Advisor Group, Inc., Term Loan, 9.824%, (SOFR + 4.50%), 8/17/28		31,480	$ 31,397,521
AllSpring Buyer, LLC, Term Loan, 8.949%, (SOFR + 3.25%), 11/1/28		8,230	8,026,346
Aretec Group, Inc.:
Term Loan, 9.674%, (SOFR + 4.25%), 10/1/25		25,515	25,529,243
Term Loan, 9.924%, (SOFR + 4.50%), 8/9/30		10,898	10,611,623
Brookfield Property REIT, Inc., Term Loan, 7.924%, (SOFR + 2.50%), 8/27/25		5,186	5,138,419
CeramTec AcquiCo GmbH, Term Loan, 7.283%, (3 mo. EURIBOR + 3.50%), 3/16/29	EUR	14,461	14,957,464

Borrower/Description	Principal Amount* (000's omitted)		Value
Capital Markets (continued)
Citadel Securities, L.P., Term Loan, 7.939%, (SOFR + 2.50%), 7/29/30		9,682	$ 9,667,338
Citco Funding, LLC, Term Loan, 4/27/28⁽⁹⁾		10,425	10,444,547
Clipper Acquisitions Corp., Term Loan, 7.192%, (SOFR + 1.75%), 3/3/28		7,795	7,762,829
Edelman Financial Center, LLC, Term Loan, 8.939%, (SOFR + 3.50%), 4/7/28		22,283	21,937,845
EIG Management Company, LLC, Term Loan, 9.177%, (SOFR + 3.75%), 2/22/25		2,670	2,669,625
FinCo I, LLC, Term Loan, 8.383%, (SOFR + 3.00%), 6/27/29		16,284	16,292,330
Focus Financial Partners, LLC:
Term Loan, 7.824%, (SOFR + 2.50%), 6/30/28		10,831	10,745,152
Term Loan, 8.574%, (SOFR + 3.25%), 6/30/28		27,453	27,380,762
Term Loan, 8.824%, (SOFR + 3.50%), 6/30/28		8,475	8,466,169
Franklin Square Holdings, L.P., Term Loan, 7.674%, (SOFR + 2.25%), 8/1/25		6,484	6,491,817
Guggenheim Partners, LLC, Term Loan, 8.64%, (SOFR + 3.25%), 12/12/29		32,353	32,366,485
HighTower Holdings, LLC, Term Loan, 9.38%, (SOFR + 4.00%), 4/21/28		9,264	9,107,225
Hudson River Trading, LLC, Term Loan, 8.439%, (SOFR + 3.00%), 3/20/28		29,737	29,353,712
LPL Holdings, Inc., Term Loan, 7.165%, (SOFR + 1.75%), 11/12/26		19,154	19,197,645
Mariner Wealth Advisors, LLC, Term Loan, 8.901%, (SOFR + 3.25%), 8/18/28		15,069	14,842,532
Victory Capital Holdings, Inc.:
Term Loan, 7.772%, (SOFR + 2.25%), 7/1/26		18,707	18,697,902
Term Loan, 7.772%, (SOFR + 2.25%), 12/29/28		8,636	8,603,913
			$ 349,688,444
Chemicals — 6.0%
Axalta Coating Systems U.S. Holdings, Inc., Term Loan, 7.89%, (SOFR + 2.50%), 12/20/29		21,207	$ 21,268,762
CPC Acquisition Corp., Term Loan, 9.402%, (SOFR + 3.75%), 12/29/27		17,474	13,831,823
Flint Group Midco Limited, Term Loan, 10.674%, (SOFR + 5.00%), 9.924% cash, 0.75% PIK, 12/31/26		5,770	5,366,411
Flint Group Packaging INKS North America Holdings, LLC:
Term Loan, 9.002%, (3 mo. EURIBOR + 5.00%), 8.252% cash, 0.75% PIK, 12/31/26	EUR	1,283	1,262,388
Term Loan, 11.002%, (3 mo. EURIBOR + 7.00%), 4.102% cash, 6.90% PIK, 12/31/27	EUR	623	482,565
Term Loan - Second Lien, 11.002%, (3 mo. EURIBOR + 7.00%), 4.102% cash, 6.90% PIK, 12/31/27	EUR	830	158,868

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Chemicals (continued)
Flint Group Topco Limited:
Term Loan, 12.674%, (SOFR + 7.00%), 5.774% cash, 6.90% PIK, 12/31/27		2,814	$ 2,061,038
Term Loan - Second Lien, 12.674%, (SOFR + 7.00%), 5.774% cash, 6.90% PIK, 12/31/27		3,752	678,526
Gemini HDPE, LLC, Term Loan, 8.645%, (SOFR + 3.00%), 12/31/27		5,681	5,671,942
GEON Performance Solutions, LLC, Term Loan, 10.402%, (SOFR + 4.75%), 8/18/28		7,620	7,467,817
Groupe Solmax, Inc., Term Loan, 10.303%, (SOFR + 4.75%), 5/29/28⁽¹⁰⁾		19,874	18,616,633
INEOS Enterprises Holdings II Limited, Term Loan, 7.783%, (3 mo. EURIBOR + 4.00%), 7/7/30	EUR	2,290	2,388,564
INEOS Enterprises Holdings US Finco, LLC, Term Loan, 9.273%, (SOFR + 3.75%), 7/8/30		14,000	13,708,338
INEOS Finance PLC:
Term Loan, 6.618%, (1 mo. EURIBOR + 2.75%), 11/8/28	EUR	9,675	9,830,829
Term Loan, 7.868%, (1 mo. EURIBOR + 4.00%), 11/8/27	EUR	7,846	8,201,887
INEOS Quattro Holdings UK, Ltd.:
Term Loan, 6.622%, (1 week EURIBOR + 2.75%), 1/29/26	EUR	26,250	27,423,777
Term Loan, 7.872%, (1 week EURIBOR + 4.00%), 3/14/30	EUR	4,075	4,177,016
Term Loan, 9.174%, (SOFR + 3.75%), 3/14/30		6,110	6,006,587
INEOS Styrolution US Holding, LLC, Term Loan, 8.189%, (SOFR + 2.75%), 1/29/26		12,578	12,379,268
INEOS US Finance, LLC:
Term Loan, 7.825%, (SOFR + 2.50%), 11/8/28		6,768	6,623,744
Term Loan, 8.924%, (SOFR + 3.50%), 2/18/30		11,122	10,937,920
Term Loan, 9.174%, (SOFR + 3.75%), 11/8/27		3,422	3,385,364
Kraton Corporation, Term Loan, 8.921%, (SOFR + 3.25%), 3/15/29		6,132	5,848,037
Kraton Polymers Holdings B.V., Term Loan, 7.217%, (EURIBOR + 3.25%), 3/15/29⁽¹⁰⁾	EUR	4,650	4,739,759
Lonza Group AG:
Term Loan, 7.897%, (3 mo. EURIBOR + 3.93%), 7/3/28	EUR	9,600	8,778,846
Term Loan, 9.415%, (SOFR + 3.93%), 7/3/28		14,720	12,504,105
Messer Industries GmbH:
Term Loan, 6.368%, (1 mo. EURIBOR + 2.50%), 3/2/26	EUR	1,622	1,717,302
Term Loan, 8.152%, (SOFR + 2.50%), 3/2/26		7,900	7,902,468
Momentive Performance Materials, Inc., Term Loan, 9.824%, (SOFR + 4.50%), 3/29/28		16,122	15,396,143
Olympus Water US Holding Corporation:
Term Loan, 9.402%, (SOFR + 3.75%), 11/9/28		4,438	4,336,305
Term Loan, 9.99%, (SOFR + 4.50%), 11/9/28		5,861	5,767,957

Borrower/Description	Principal Amount* (000's omitted)		Value
Chemicals (continued)
Orion Engineered Carbons GmbH:
Term Loan, 6.372%, (3 mo. EURIBOR + 2.40%), 9/24/28	EUR	1,250	$ 1,325,932
Term Loan, 7.64%, (SOFR + 2.15%), 9/24/28		4,851	4,790,363
PQ Corporation, Term Loan, 7.983%, (SOFR + 2.50%), 6/9/28		25,204	25,085,595
Rohm Holding GmbH:
Term Loan, 8.472%, (6 mo. EURIBOR + 4.50%), 7/31/26	EUR	1,000	950,968
Term Loan, 10.881%, (SOFR + 5.00%), 7/31/26		17,350	16,034,260
Term Loan, 7/31/26⁽⁹⁾	EUR	13,700	13,028,257
SCUR-Alpha 1503 GmbH, Term Loan, 10.883%, (SOFR + 5.50%), 3/29/30		6,866	6,333,464
Tronox Finance, LLC:
Term Loan, 8.116%, (SOFR + 2.50%), 3/10/28⁽¹⁰⁾		12,836	12,611,521
Term Loan, 8.64%, (SOFR + 3.25%), 4/4/29		3,915	3,863,171
Term Loan, 8.824%, (SOFR + 3.50%), 8/16/28		6,425	6,344,688
W.R. Grace & Co.-Conn., Term Loan, 9.402%, (SOFR + 3.75%), 9/22/28		12,969	12,767,894
			$ 352,057,102
Commercial Services & Supplies — 2.0%
Asplundh Tree Expert, LLC, Term Loan, 7.174%, (SOFR + 1.75%), 9/7/27		10,137	$ 10,154,715
Belfor Holdings, Inc.:
Term Loan, 9.439%, (SOFR + 4.00%), 4/6/26		2,261	2,261,479
Term Loan, 9.574%, (SOFR + 4.25%), 4/6/26		4,550	4,558,673
Term Loan, 10/25/30⁽⁹⁾		8,425	8,425,000
EnergySolutions, LLC, Term Loan, 9.382%, (SOFR + 4.00%), 9/20/30		17,247	17,171,895
Foundever Group, Term Loan, 7.62%, (1 mo. EURIBOR + 3.75%), 8/28/28	EUR	7,075	7,203,461
GFL Environmental, Inc., Term Loan, 7.912%, (SOFR + 2.50%), 5/31/27		4,322	4,330,513
Harsco Corporation, Term Loan, 7.689%, (SOFR + 2.25%), 3/10/28		1,301	1,271,273
JFL-Tiger Acquisition Co., Inc., Term Loan, 10.403%, (SOFR + 5.00%), 10/17/30		9,375	9,269,531
LABL, Inc., Term Loan, 10.424%, (SOFR + 5.00%), 10/29/28		9,358	8,841,846
Monitronics International, Inc., Term Loan, 13.145%, (SOFR + 7.50%), 6/30/28		11,001	11,125,052
Phoenix Services International, LLC, Term Loan, 11.427%, (SOFR + 6.10%), 6/30/28		3,500	3,264,012
SITEL Worldwide Corporation, Term Loan, 9.189%, (SOFR + 3.75%), 8/28/28		13,409	12,952,447

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Commercial Services & Supplies (continued)
Tempo Acquisition, LLC, Term Loan, 8.074%, (SOFR + 2.75%), 8/31/28		4,199	$ 4,200,072
TMF Group Holding B.V., Term Loan, 10.414%, (SOFR + 5.00%), 5/3/28		5,175	5,178,235
TruGreen Limited Partnership, Term Loan, 9.424%, (SOFR + 4.00%), 11/2/27		9,333	8,778,041
			$ 118,986,245
Communications Equipment — 0.1%
CommScope, Inc., Term Loan, 8.689%, (SOFR + 3.25%), 4/6/26		4,484	$ 3,883,445
Digi International, Inc., Term Loan, 10.439%, (SOFR + 5.00%), 11/1/28		4,547	4,549,057
			$ 8,432,502
Construction Materials — 0.3%
Quikrete Holdings, Inc.:
Term Loan, 8.064%, (SOFR + 2.63%), 2/1/27		4,742	$ 4,740,346
Term Loan, 8.189%, (SOFR + 2.75%), 3/19/29		11,303	11,311,166
			$ 16,051,512
Consumer Staples Distribution & Retail — 0.5%
Cardenas Markets, Inc., Term Loan, 12.24%, (SOFR + 6.75%), 8/1/29		5,373	$ 5,373,536
Peer Holding III B.V.:
Term Loan, 7.722%, (3 mo. EURIBOR + 3.75%), 9/29/28	EUR	7,550	7,973,263
Term Loan, 10/19/30⁽⁹⁾		14,625	14,570,156
			$ 27,916,955
Containers & Packaging — 2.0%
Berlin Packaging, LLC, Term Loan, 9.189%, (SOFR + 3.75%), 3/11/28⁽¹⁰⁾		9,681	$ 9,474,244
Clydesdale Acquisition Holdings, Inc., Term Loan, 9.599%, (SOFR + 4.18%), 4/13/29		22,679	21,978,496
Kouti B.V.:
Term Loan, 7.458%, (3 mo. EURIBOR + 3.68%), 8/31/28	EUR	32,750	33,431,620
Term Loan, 8.533%, (3 mo. EURIBOR + 4.75%), 8/31/28	EUR	2,000	2,099,007
Pregis TopCo Corporation:
Term Loan, 9.074%, (SOFR + 3.75%), 7/31/26		2,334	2,314,312
Term Loan, 9.189%, (SOFR + 3.75%), 7/31/26		1,617	1,608,915
Pretium Packaging, LLC, Term Loan - Second Lien, 9.995%, (SOFR + 4.60%), 10/2/28		7,242	5,522,031
Pretium PKG Holdings, Inc., Term Loan - Second Lien, 12.20%, (SOFR + 6.75%), 10/1/29⁽¹⁰⁾		7,100	3,150,625

Borrower/Description	Principal Amount* (000's omitted)		Value
Containers & Packaging (continued)
Proampac PG Borrower, LLC, Term Loan, 10.585%, (SOFR + 4.50%), 9/15/28		15,000	$ 14,843,745
Trident TPI Holdings, Inc.:
Term Loan, 9.652%, (SOFR + 4.00%), 9/15/28		6,496	6,425,228
Term Loan, 9.89%, (SOFR + 4.50%), 9/15/28		17,532	17,488,562
			$ 118,336,785
Distributors — 0.1%
Phillips Feed Service, Inc., Term Loan, 12.427%, (SOFR + 7.00%), 11/13/24⁽³⁾		538	$ 430,363
Winterfell Financing S.a.r.l., Term Loan, 8.765%, (3 mo. EURIBOR + 5.00%), 5/4/28	EUR	2,500	2,595,652
			$ 3,026,015
Diversified Consumer Services — 1.0%
Ascend Learning, LLC:
Term Loan, 8.924%, (SOFR + 3.50%), 12/11/28		12,471	$ 11,641,244
Term Loan - Second Lien, 11.174%, (SOFR + 5.75%), 12/10/29		5,243	4,473,864
Belron Finance US, LLC, Term Loan, 8.057%, (SOFR + 2.43%), 4/13/28		8,507	8,516,445
FrontDoor, Inc., Term Loan, 7.689%, (SOFR + 2.25%), 6/17/28		953	950,382
KUEHG Corp., Term Loan, 10.39%, (SOFR + 5.00%), 6/12/30		18,250	18,258,139
Sotheby's, Term Loan, 10.156%, (SOFR + 4.50%), 1/15/27		10,422	10,122,566
Spring Education Group, Inc., Term Loan, 9.914%, (SOFR + 4.50%), 10/4/30		4,725	4,679,720
			$ 58,642,360
Diversified Financial Services — 0.1%
Concorde Midco, Ltd., Term Loan, 7.892%, (6 mo. EURIBOR + 4.00%), 3/1/28	EUR	7,480	$ 7,799,172
			$ 7,799,172
Diversified Telecommunication Services — 1.0%
CenturyLink, Inc., Term Loan, 7.689%, (SOFR + 2.25%), 3/15/27		28,655	$ 21,603,167
GEE Holdings 2, LLC:
Term Loan, 13.50%, (SOFR + 8.25%), 3/24/25		9,869	8,980,646
Term Loan - Second Lien, 13.75%, (SOFR + 8.25%), 7.00% cash, 6.75% PIK, 3/23/26		7,607	4,564,183
Level 3 Financing, Inc., Term Loan, 7.189%, (SOFR + 1.75%), 3/1/27		11,500	10,816,532
Telenet Financing USD, LLC, Term Loan, 7.449%, (SOFR + 2.00%), 4/30/28		5,075	4,941,781

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Diversified Telecommunication Services (continued)
Virgin Media Bristol, LLC, Term Loan, 7.949%, (SOFR + 2.50%), 1/31/28		4,843	$ 4,714,101
Virgin Media SFA Finance Limited, Term Loan, 6.372%, (1 mo. EURIBOR + 2.50%), 1/31/29	EUR	1,125	1,149,975
			$ 56,770,385
Electronic Equipment, Instruments & Components — 1.3%
Creation Technologies, Inc., Term Loan, 11.176%, (SOFR + 5.50%), 10/5/28		15,513	$ 14,699,003
II-VI Incorporated, Term Loan, 8.189%, (SOFR + 2.75%), 7/2/29		1,474	1,472,919
Ingram Micro, Inc., Term Loan, 8.653%, (SOFR + 3.00%), 6/30/28		4,481	4,481,233
Minimax Viking GmbH, Term Loan, 7.133%, (EURIBOR + 3.25%), 7/31/28⁽¹⁰⁾	EUR	3,984	4,215,437
Mirion Technologies, Inc., Term Loan, 8.402%, (SOFR + 2.75%), 10/20/28		2,350	2,346,099
MX Holdings US, Inc., Term Loan, 7/31/28⁽⁹⁾		3,350	3,343,719
Robertshaw US Holding Corp.:
Term Loan, 13.49%, (SOFR + 8.00%), 8.490% cash, 5.00% PIK, 2/28/27		4,853	4,901,278
Term Loan - Second Lien, 12.49%, (SOFR + 7.00%), 2/28/27		20,495	17,317,867
TTM Technologies, Inc., Term Loan, 8.065%, (SOFR + 2.75%), 5/30/30		6,983	6,986,864
Verifone Systems, Inc., Term Loan, 9.653%, (SOFR + 4.00%), 8/20/25		20,407	19,013,339
			$ 78,777,758
Energy Equipment & Services — 0.5%
Ameriforge Group, Inc.:
Term Loan, 16.731%, (SOFR + 13.00%), 12/29/23^(3)(11)		2,245	$ 1,791,244
Term Loan, 18.456%, (SOFR + 13.00%), 12/29/23^(3)(10)		17,625	14,061,537
GIP Pilot Acquisition Partners L.P., Term Loan, 8.388%, (SOFR + 3.00%), 10/4/30		6,250	6,250,000
Lealand Finance Company B.V.:
Letter of Credit, 3.638%, 6/28/24⁽¹¹⁾		10,000	7,450,000
Term Loan, 12.439%, (SOFR + 7.00%), 9.439% cash, 3.00% PIK, 6/30/25		3,435	1,914,859
			$ 31,467,640
Engineering & Construction — 1.2%
Aegion Corporation, Term Loan, 10.395%, (SOFR + 4.75%), 5/17/28		17,680	$ 17,581,008
American Residential Services, LLC, Term Loan, 9.152%, (SOFR + 3.50%), 10/15/27		8,445	8,434,845

Borrower/Description	Principal Amount* (000's omitted)		Value
Engineering & Construction (continued)
APi Group DE, Inc.:
Term Loan, 7.689%, (SOFR + 2.25%), 10/1/26		11,043	$ 11,059,970
Term Loan, 7.939%, (SOFR + 2.50%), 1/3/29		5,176	5,186,926
Centuri Group, Inc., Term Loan, 7.939%, (SOFR + 2.50%), 8/27/28		9,144	9,137,183
Northstar Group Services, Inc.:
Term Loan, 10.939%, (SOFR + 5.50%), 11/12/26		12,962	12,962,369
Term Loan, 10.949%, (SOFR + 5.50%), 11/12/26		1,963	1,957,594
USIC Holdings, Inc., Term Loan, 8.939%, (SOFR + 3.50%), 5/12/28		6,177	5,974,312
			$ 72,294,207
Entertainment — 1.3%
City Football Group Limited, Term Loan, 8.453%, (SOFR + 3.00%), 7/21/28		12,001	$ 11,910,884
Crown Finance US, Inc., Term Loan, 7.381%, (SOFR + 1.50%), 7/31/28		2,461	2,517,188
Delta 2 (LUX) S.a.r.l., Term Loan, 7.574%, (SOFR + 2.25%), 1/15/30		2,500	2,493,750
EP Purchaser, LLC, Term Loan, 9.152%, (SOFR + 3.50%), 11/6/28		997	973,467
Playtika Holding Corp., Term Loan, 8.189%, (SOFR + 2.75%), 3/13/28		27,261	26,490,582
Renaissance Holding Corp.:
Term Loan, 10.074%, (SOFR + 4.75%), 4/5/30		13,750	13,580,985
Term Loan - Second Lien, 12.424%, (SOFR + 7.00%), 5/29/26		143	142,251
UFC Holdings, LLC, Term Loan, 8.399%, (SOFR + 2.75%), 4/29/26		14,700	14,704,284
Vue International Bidco PLC:
Term Loan, 12.13%, (6 mo. EURIBOR + 8.00%), 6/30/27	EUR	384	397,980
Term Loan, 12.63%, (6 mo. EURIBOR + 8.50%), 6.13% cash, 6.50% PIK, 12/31/27	EUR	2,682	1,266,375
			$ 74,477,746
Equity Real Estate Investment Trusts (REITs) — 0.2%
Iron Mountain, Inc., Term Loan, 7.189%, (1 mo. USD LIBOR + 1.75%), 1/2/26		8,954	$ 8,945,476
			$ 8,945,476
Financial Services — 1.2%
Ditech Holding Corporation, Term Loan, 0.00%, 3/28/24⁽¹²⁾		15,063	$ 1,656,959
GTCR W Merger Sub, LLC:
Term Loan, 9/20/30⁽⁹⁾		38,850	38,614,142
Term Loan, 9/20/30⁽⁹⁾	EUR	1,000	1,056,778

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Financial Services (continued)
NCR Atleos, LLC, Term Loan, 10.176%, (SOFR + 4.75%), 3/27/29		17,400	$ 16,707,619
Walker & Dunlop, Inc., Term Loan, 7.674%, (SOFR + 2.25%), 12/16/28		13,976	13,952,764
			$ 71,988,262
Food Products — 1.5%
8th Avenue Food & Provisions, Inc., Term Loan, 10.189%, (SOFR + 4.75%), 10/1/25		7,252	$ 6,868,246
Badger Buyer Corp., Term Loan, 8.939%, (SOFR + 3.50%), 9/30/24		9,493	8,128,089
CHG PPC Parent, LLC, Term Loan, 8.439%, (SOFR + 3.00%), 12/8/28		6,230	6,167,415
Del Monte Foods, Inc., Term Loan, 9.682%, (SOFR + 4.25%), 5/16/29		6,559	6,363,627
Froneri International, Ltd.:
Term Loan, 6.097%, (6 mo. EURIBOR + 2.13%), 1/29/27	EUR	1,500	1,544,637
Term Loan, 7.674%, (SOFR + 2.25%), 1/29/27		8,706	8,658,385
Monogram Food Solutions, LLC, Term Loan, 9.439%, (SOFR + 4.00%), 8/28/28		1,770	1,725,344
Nomad Foods US, LLC, Term Loan, 8.469%, (SOFR + 3.00%), 11/13/29		14,174	14,188,228
Sovos Brands Intermediate, Inc., Term Loan, 9.145%, (SOFR + 3.50%), 6/8/28		9,191	9,211,337
United Petfood Group B.V., Term Loan, 6.852%, (6 mo. EURIBOR + 2.75%), 4/23/28	EUR	9,025	9,326,540
Valeo F1 Company Limited (Ireland):
Term Loan, 8.136%, (6 mo. EURIBOR + 4.00%), 9/29/28	EUR	9,450	9,002,713
Term Loan, 10.186%, (SONIA + 5.00%), 6/28/28	GBP	5,500	5,755,760
			$ 86,940,321
Gas Utilities — 0.4%
CQP Holdco, L.P., Term Loan, 8.99%, (SOFR + 3.50%), 6/5/28		24,456	$ 24,463,147
			$ 24,463,147
Health Care Equipment & Supplies — 1.5%
Artivion, Inc., Term Loan, 8.939%, (SOFR + 3.50%), 6/1/27		6,506	$ 6,313,523
Bayou Intermediate II, LLC, Term Loan, 10.128%, (SOFR + 4.50%), 8/2/28		9,093	8,729,125
Gloves Buyer, Inc., Term Loan, 9.439%, (SOFR + 4.00%), 12/29/27		18,261	17,621,459
ICU Medical, Inc., Term Loan, 8.04%, (SOFR + 2.50%), 1/8/29		7,979	7,962,711

Borrower/Description	Principal Amount* (000's omitted)		Value
Health Care Equipment & Supplies (continued)
Journey Personal Care Corp., Term Loan, 9.981%, (6 mo. USD LIBOR + 4.25%), 3/1/28		28,647	$ 27,545,920
Medline Borrower, L.P.:
Term Loan, 7.368%, (1 mo. EURIBOR + 3.50%), 10/23/28	EUR	1,000	1,049,172
Term Loan, 8.689%, (SOFR + 3.25%), 10/23/28		19,227	19,117,396
			$ 88,339,306
Health Care Providers & Services — 5.8%
AEA International Holdings (Lux) S.a.r.l., Term Loan, 9.402%, (SOFR + 3.75%), 9/7/28		14,860	$ 14,822,854
BW NHHC Holdco, Inc., Term Loan - Second Lien, 13.39%, (SOFR + 8.00%), 1/15/26		19,042	16,281,321
Cano Health, LLC, Term Loan, 9.533%, (SOFR + 4.00%), 11/23/27⁽¹⁰⁾		7,609	4,489,209
CCRR Parent, Inc., Term Loan, 9.189%, (SOFR + 3.75%), 3/6/28		5,235	4,986,479
Cerba Healthcare S.A.S.:
Term Loan, 7.583%, (1 mo. EURIBOR + 3.70%), 6/30/28	EUR	20,800	20,475,749
Term Loan, 7.883%, (1 mo. EURIBOR + 4.00%), 2/16/29	EUR	8,600	8,584,012
CHG Healthcare Services, Inc.:
Term Loan, 8.689%, (SOFR + 3.25%), 9/29/28		7,863	7,787,950
Term Loan, 9.145%, (SOFR + 3.75%), 9/29/28		5,275	5,234,340
Covis Finco S.a.r.l.:
Term Loan, 9.90%, (SOFR + 4.50%), 2/18/27		4,368	4,193,458
Term Loan, 12.04%, (SOFR + 6.50%), 2/18/27		10,270	7,394,694
Dedalus Finance GmbH, Term Loan, 7.712%, (6 mo. EURIBOR + 3.75%), 7/17/27	EUR	14,150	14,290,349
Elsan S.A.S., Term Loan, 7.39%, (6 mo. EURIBOR + 3.35%), 6/16/28	EUR	4,150	4,259,110
Ensemble RCM, LLC, Term Loan, 9.233%, (SOFR + 3.75%), 8/3/26		8,401	8,407,777
Envision Healthcare Corporation:
Term Loan, 0.00%, 3/31/27⁽¹²⁾		6,718	7,994,599
Term Loan - Second Lien, 0.00%, 3/31/27⁽¹²⁾		47,025	8,229,435
IVC Acquisition, Ltd., Term Loan, 7.687%, (6 mo. EURIBOR + 4.00%), 2/13/26	EUR	20,825	21,832,944
Medical Solutions Holdings, Inc.:
Term Loan, 8.773%, (SOFR + 3.25%), 11/1/28		15,174	14,181,313
Term Loan - Second Lien, 12.523%, (SOFR + 7.00%), 11/1/29		9,500	8,478,750
Mehilainen Yhtiot Oy, Term Loan, 7.497%, (3 mo. EURIBOR + 3.53%), 8/8/25	EUR	6,475	6,847,986
Midwest Physician Administrative Services, LLC, Term Loan, 8.902%, (SOFR + 3.25%), 3/12/28		10,030	9,425,688

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Health Care Providers & Services (continued)
National Mentor Holdings, Inc.:
Term Loan, 9.187%, (SOFR + 3.75%), 3/2/28⁽¹⁰⁾		15,735	$ 13,781,060
Term Loan, 9.24%, (SOFR + 3.75%), 3/2/28		438	383,336
Term Loan - Second Lien, 12.74%, (SOFR + 7.25%), 3/2/29		6,475	4,516,313
Phoenix Guarantor, Inc.:
Term Loan, 8.689%, (SOFR + 3.25%), 3/5/26		24,054	23,846,845
Term Loan, 8.939%, (SOFR + 3.50%), 3/5/26		4,434	4,395,794
Radiology Partners, Inc., Term Loan, 10.179%, (SOFR + 4.25%), 7/9/25		17,020	12,754,055
Ramsay Generale de Sante S.A., Term Loan, 6.952%, (3 mo. EURIBOR + 2.95%), 4/22/27	EUR	7,400	7,826,027
Select Medical Corporation, Term Loan, 8.324%, (SOFR + 3.00%), 3/6/27		56,317	56,237,577
Sound Inpatient Physicians, Term Loan, 8.645%, (SOFR + 3.00%), 6/27/25		2,566	856,061
Synlab Bondco PLC, Term Loan, 6.392%, (6 mo. EURIBOR + 2.50%), 7/1/27	EUR	2,600	2,724,408
TTF Holdings, LLC, Term Loan, 9.439%, (SOFR + 4.00%), 3/31/28		5,644	5,651,378
U.S. Anesthesia Partners, Inc., Term Loan, 9.679%, (SOFR + 4.25%), 10/1/28		9,419	8,215,082
			$ 339,385,953
Health Care Technology — 1.7%
Certara, L.P., Term Loan, 9.184%, (SOFR + 3.50%), 8/15/26		9,283	$ 9,294,499
eResearchTechnology, Inc., Term Loan, 9.939%, (SOFR + 4.50%), 2/4/27		9,562	9,257,424
Imprivata, Inc.:
Term Loan, 9.189%, (SOFR + 3.75%), 12/1/27		15,197	15,158,512
Term Loan, 9.574%, (SOFR + 4.25%), 12/1/27		3,580	3,581,180
MedAssets Software Intermediate Holdings, Inc.:
Term Loan, 9.439%, (SOFR + 4.00%), 12/18/28		17,533	13,916,819
Term Loan - Second Lien, 12.189%, (SOFR + 6.75%), 12/17/29		9,625	5,849,594
Navicure, Inc., Term Loan, 9.439%, (SOFR + 4.00%), 10/22/26		10,028	10,036,341
PointClickCare Technologies, Inc., Term Loan, 8.76%, (SOFR + 3.00%), 12/29/27		4,288	4,282,650
Symplr Software, Inc., Term Loan, 9.983%, (SOFR + 4.50%), 12/22/27		11,445	10,064,454
Verscend Holding Corp., Term Loan, 9.439%, (SOFR + 4.00%), 8/27/25		21,362	21,377,130
			$ 102,818,603

Borrower/Description	Principal Amount* (000's omitted)		Value
Hotels, Restaurants & Leisure — 5.2%
1011778 B.C. Unlimited Liability Company, Term Loan, 7.574%, (SOFR + 2.25%), 9/20/30		45,515	$ 45,252,796
Bally's Corporation, Term Loan, 8.927%, (SOFR + 3.25%), 10/2/28		3,834	3,588,037
Carnival Corporation:
Term Loan, 7.618%, (1 mo. EURIBOR + 3.75%), 6/30/25	EUR	9,546	10,116,261
Term Loan, 8.689%, (SOFR + 3.25%), 10/18/28		39,988	39,321,274
ClubCorp Holdings, Inc., Term Loan, 8.19%, (1 mo. USD LIBOR + 2.75%), 9/18/26		22,314	21,876,990
Fertitta Entertainment, LLC, Term Loan, 9.324%, (SOFR + 4.00%), 1/27/29		29,627	29,022,275
Great Canadian Gaming Corporation, Term Loan, 9.658%, (SOFR + 4.00%), 11/1/26		9,643	9,647,105
GVC Holdings (Gibraltar) Limited, Term Loan, 7.722%, (3 mo. EURIBOR + 3.75%), 6/30/28	EUR	21,325	22,549,886
Ontario Gaming GTA L.P., Term Loan, 9.64%, (SOFR + 4.25%), 8/1/30		12,025	12,030,363
Oravel Stays Singapore Pte., Ltd., Term Loan, 13.908%, (SOFR + 8.25%), 6/23/26		5,914	5,233,780
Playa Resorts Holding B.V., Term Loan, 9.585%, (SOFR + 4.25%), 1/5/29		39,680	39,605,144
Scientific Games Holdings, L.P., Term Loan, 7.964%, (3 mo. EURIBOR + 4.00%), 4/4/29	EUR	1,000	1,045,139
Scientific Games International, Inc., Term Loan, 8.435%, (SOFR + 3.00%), 4/14/29		7,885	7,886,525
SeaWorld Parks & Entertainment, Inc., Term Loan, 8.439%, (SOFR + 3.00%), 8/25/28		13,295	13,289,695
Stars Group Holdings B.V. (The):
Term Loan, 6.358%, (3 mo. EURIBOR + 2.50%), 7/21/26	EUR	12,305	13,034,257
Term Loan, 7.902%, (SOFR + 2.25%), 7/21/26		32,829	32,847,479
			$ 306,347,006
Household Durables — 1.2%
ACProducts, Inc., Term Loan, 9.902%, (SOFR + 4.25%), 5/17/28		20,377	$ 16,250,630
Libbey Glass, Inc., Term Loan, 11.939%, (SOFR + 6.50%), 11/22/27		19,909	18,963,452
Serta Simmons Bedding, LLC, Term Loan, 12.90%, (SOFR + 7.50%), 6/29/28		20,679	20,480,448
Solis IV B.V., Term Loan, 8.891%, (SOFR + 3.50%), 2/26/29		17,967	17,001,560
			$ 72,696,090
Household Products — 0.5%
Energizer Holdings, Inc., Term Loan, 7.703%, (SOFR + 2.25%), 12/22/27		7,185	$ 7,181,370

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Household Products (continued)
Kronos Acquisition Holdings, Inc.:
Term Loan, 9.402%, (SOFR + 3.75%), 12/22/26		9,807	$ 9,628,496
Term Loan, 11.567%, (SOFR + 6.00%), 12/22/26		5,649	5,649,375
Nobel Bidco B.V., Term Loan, 7.27%, (6 mo. EURIBOR + 3.50%), 9/1/28	EUR	9,050	8,831,020
			$ 31,290,261
Independent Power and Renewable Electricity Producers — 0.3%
Calpine Construction Finance Company L.P., Term Loan, 7.574%, (SOFR + 2.25%), 7/31/30		10,519	$ 10,445,606
Calpine Corporation:
Term Loan, 7.439%, (SOFR + 2.00%), 4/5/26		3,174	3,174,829
Term Loan, 7.939%, (SOFR + 2.50%), 12/16/27		3,693	3,693,777
			$ 17,314,212
Industrial Conglomerates — 0.5%
Ammeraal Beltech Holding B.V., Term Loan, 8.972%, (3 mo. EURIBOR + 5.00%), 12/30/28	EUR	10,775	$ 11,375,378
Rain Carbon GmbH, Term Loan, 8.787%, (3 mo. EURIBOR + 5.00%), 10/31/28	EUR	15,875	16,713,131
			$ 28,088,509
Insurance — 2.2%
Alliant Holdings Intermediate, LLC:
Term Loan, 8.835%, (SOFR + 3.50%), 11/5/27		2,873	$ 2,867,134
Term Loan, 8.939%, (1 mo. USD LIBOR + 3.50%), 11/5/27		13,967	13,939,991
AmWINS Group, Inc.:
Term Loan, 7.689%, (SOFR + 2.25%), 2/19/28		11,302	11,221,190
Term Loan, 8.189%, (SOFR + 2.75%), 2/19/28		15,419	15,405,171
AssuredPartners, Inc.:
Term Loan, 8.824%, (SOFR + 3.50%), 2/12/27		5,294	5,254,005
Term Loan, 2/12/27⁽⁹⁾		13,000	12,909,273
Financiere CEP S.A.S., Term Loan, 7.722%, (3 mo. EURIBOR + 3.75%), 6/18/27	EUR	5,242	5,463,733
HUB International Limited, Term Loan, 9.662%, (SOFR + 4.25%), 6/20/30		17,758	17,773,218
NFP Corp., Term Loan, 8.689%, (SOFR + 3.25%), 2/16/27		27,630	27,150,532
Ryan Specialty Group, LLC, Term Loan, 8.424%, (SOFR + 3.00%), 9/1/27		9,814	9,823,534
USI, Inc., Term Loan, 9/27/30⁽⁹⁾		9,050	9,017,945
			$ 130,825,726

Borrower/Description	Principal Amount* (000's omitted)		Value
Interactive Media & Services — 0.7%
Adevinta ASA:
Term Loan, 6.472%, (3 mo. EURIBOR + 2.50%), 6/26/28	EUR	6,799	$ 7,198,200
Term Loan, 8.322%, (SOFR + 2.75%), 6/26/28		3,626	3,631,613
Buzz Finco, LLC:
Term Loan, 8.174%, (SOFR + 2.75%), 1/29/27		2,734	2,735,571
Term Loan, 8.674%, (SOFR + 3.25%), 1/29/27		549	549,527
Foundational Education Group, Inc., Term Loan, 9.895%, (SOFR + 4.25%), 8/31/28		3,558	3,326,786
Getty Images, Inc.:
Term Loan, 9.00%, (3 mo. EURIBOR + 5.00%), 2/19/26	EUR	2,224	2,348,783
Term Loan, 9.99%, (SOFR + 4.50%), 2/19/26		15,075	15,127,062
Match Group, Inc., Term Loan, 7.298%, (SOFR + 1.75%), 2/13/27		7,625	7,603,558
			$ 42,521,100
IT Services — 5.8%
Asurion, LLC:
Term Loan, 8.689%, (SOFR + 3.25%), 12/23/26		5,407	$ 5,233,905
Term Loan, 8.689%, (SOFR + 3.25%), 7/31/27		11,456	10,955,039
Term Loan, 9.424%, (SOFR + 4.00%), 8/19/28		21,544	20,604,725
Term Loan, 9.674%, (SOFR + 4.25%), 8/19/28		7,338	7,022,057
Term Loan - Second Lien, 10.689%, (SOFR + 5.25%), 1/31/28		18,610	16,244,985
Term Loan - Second Lien, 10.689%, (SOFR + 5.25%), 1/20/29		4,375	3,758,742
Cyxtera DC Holdings, Inc.:
DIP Loan, 13.951%, (SOFR + 8.50%), 12/7/23		16,383	16,495,163
Term Loan, 0.00%, 5/1/24⁽¹²⁾		45,767	26,773,588
Term Loan, 0.00%, 5/1/24⁽¹²⁾		13,280	7,801,825
Endure Digital, Inc., Term Loan, 9.422%, (SOFR + 3.50%), 2/10/28		33,744	31,408,700
Gainwell Acquisition Corp., Term Loan, 9.49%, (SOFR + 4.00%), 10/1/27		51,267	49,131,005
Go Daddy Operating Company, LLC:
Term Loan, 7.439%, (SOFR + 2.00%), 8/10/27		9,796	9,800,022
Term Loan, 7.824%, (SOFR + 2.50%), 11/9/29		52,470	52,576,405
Informatica, LLC, Term Loan, 8.189%, (SOFR + 2.75%), 10/27/28		34,327	34,300,440
NAB Holdings, LLC, Term Loan, 8.54%, (SOFR + 3.00%), 11/23/28		13,797	13,729,526
Rackspace Technology Global, Inc., Term Loan, 8.206%, (SOFR + 2.75%), 2/15/28		13,485	6,078,423
Sedgwick Claims Management Services, Inc., Term Loan, 9.074%, (SOFR + 3.75%), 2/24/28		9,975	9,953,402

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
IT Services (continued)
team.blue Finco S.a.r.l., Term Loan, 7.105%, (1 mo. EURIBOR + 3.20%), 3/30/28	EUR	12,375	$ 12,598,881
WEX, Inc., Term Loan, 7.689%, (SOFR + 2.25%), 3/31/28		4,339	4,341,761
			$ 338,808,594
Leisure Products — 0.9%
Accell Group N.V., Term Loan, 8.653%, (3 mo. EURIBOR + 4.90%), 6/14/29	EUR	3,500	$ 3,207,258
Amer Sports Oyj, Term Loan, 7.948%, (3 mo. EURIBOR + 4.00%), 3/30/26	EUR	20,475	21,515,659
Fender Musical Instruments Corporation, Term Loan, 9.439%, (SOFR + 4.00%), 12/1/28		4,268	4,126,158
Hayward Industries, Inc., Term Loan, 8.189%, (SOFR + 2.75%), 5/30/28		12,281	12,096,343
Recess Holdings, Inc., Term Loan, 9.383%, (SOFR + 4.00%), 3/29/27		7,800	7,785,375
SRAM, LLC, Term Loan, 8.189%, (SOFR + 2.75%), 5/18/28		2,074	2,068,679
			$ 50,799,472
Life Sciences Tools & Services — 2.9%
Avantor Funding, Inc.:
Term Loan, 6.368%, (1 mo. EURIBOR + 2.50%), 6/12/28	EUR	21,310	$ 22,446,124
Term Loan, 7.674%, (SOFR + 2.25%), 11/8/27		5,966	5,970,559
Cambrex Corporation, Term Loan, 8.924%, (SOFR + 3.50%), 12/4/26		5,938	5,894,310
Catalent Pharma Solutions, Inc., Term Loan, 7.453%, (SOFR + 2.00%), 2/22/28		782	762,211
Curia Global, Inc., Term Loan, 9.233%, (SOFR + 3.75%), 8/30/26⁽¹⁰⁾		19,418	15,636,722
ICON Luxembourg S.a.r.l., Term Loan, 7.902%, (SOFR + 2.25%), 7/3/28		53,065	53,146,632
IQVIA, Inc., Term Loan, 7.402%, (SOFR + 1.75%), 1/17/25		13,620	13,667,314
LGC Group Holdings, Ltd., Term Loan, 7.118%, (1 mo. EURIBOR + 3.25%), 4/21/27	EUR	4,025	4,174,439
Loire Finco Luxembourg S.a.r.l., Term Loan, 8.924%, (SOFR + 3.50%), 4/21/27		3,485	3,401,906
PRA Health Sciences, Inc., Term Loan, 7.902%, (SOFR + 2.25%), 7/3/28		13,221	13,241,728
Sotera Health Holdings, LLC, Term Loan, 8.395%, (SOFR + 2.75%), 12/11/26		11,625	11,578,500
Star Parent, Inc., Term Loan, 9.386%, (3 mo. USD LIBOR + 4.00%), 9/27/30		18,475	17,680,187
			$ 167,600,632

Borrower/Description	Principal Amount* (000's omitted)		Value
Machinery — 6.3%
AI Aqua Merger Sub, Inc., Term Loan, 9.082%, (SOFR + 3.75%), 7/31/28		19,610	$ 19,250,949
Albion Financing 3 S.a.r.l.:
Term Loan, 10.883%, (SOFR + 5.50%), 8/17/26		4,254	4,250,967
Term Loan, 10.924%, (SOFR + 5.25%), 8/17/26		19,994	19,993,875
Ali Group North America Corporation, Term Loan, 7.439%, (SOFR + 2.00%), 7/30/29		16,370	16,373,849
American Trailer World Corp., Term Loan, 9.174%, (SOFR + 3.75%), 3/3/28		16,117	15,162,955
Apex Tool Group, LLC, Term Loan, 10.689%, (SOFR + 5.25%), 2/8/29		23,517	20,062,537
Barnes Group, Inc., Term Loan, 8.424%, (SOFR + 3.00%), 9/3/30		14,800	14,702,882
Clark Equipment Company, Term Loan, 7.99%, (SOFR + 2.50%), 4/20/29		12,403	12,431,054
Conair Holdings, LLC, Term Loan, 9.189%, (SOFR + 3.75%), 5/17/28		26,044	24,204,178
CPM Holdings, Inc., Term Loan, 9.827%, (SOFR + 4.50%), 9/28/28		7,000	7,006,566
Delachaux Group S.A., Term Loan, 9.88%, (SOFR + 4.50%), 4/16/26		4,130	4,130,000
Delachaux Group SA, Term Loan, 4/16/29⁽⁹⁾	EUR	8,400	8,772,978
EMRLD Borrower, L.P., Term Loan, 8.38%, (SOFR + 3.00%), 5/31/30		14,790	14,781,123
Engineered Machinery Holdings, Inc.:
Term Loan, 7.722%, (3 mo. EURIBOR + 3.75%), 5/21/28	EUR	11,883	12,407,858
Term Loan, 9.152%, (SOFR + 3.50%), 5/19/28		22,583	22,388,868
Term Loan - Second Lien, 11.652%, (SOFR + 6.00%), 5/21/29		2,000	1,960,000
Filtration Group Corporation, Term Loan, 8.939%, (SOFR + 3.50%), 10/21/28		3,218	3,197,922
Gates Global, LLC, Term Loan, 7.924%, (SOFR + 2.50%), 3/31/27		18,374	18,365,381
Icebox Holdco III, Inc., Term Loan, 9.402%, (SOFR + 3.75%), 12/22/28		12,621	12,378,944
INNIO Group Holding GmbH, Term Loan, 6.871%, (1 mo. EURIBOR + 3.00%), 10/31/25	EUR	6,125	6,444,409
Madison IAQ, LLC, Term Loan, 8.703%, (SOFR + 3.25%), 6/21/28		23,025	22,235,916
Pro Mach Group, Inc., Term Loan, 9.439%, (SOFR + 4.00%), 8/31/28		4,773	4,766,186
Roper Industrial Products Investment Company, LLC:
Term Loan, 8.972%, (3 mo. EURIBOR + 5.25%), 11/22/29	EUR	995	1,050,836
Term Loan, 9.89%, (SOFR + 4.50%), 11/22/29		11,275	11,266,019
SPX Flow, Inc., Term Loan, 9.924%, (SOFR + 4.50%), 4/5/29		19,620	19,476,372

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Machinery (continued)
Titan Acquisition Limited, Term Loan, 8.731%, (3 mo. USD LIBOR + 3.00%), 3/28/25		29,880	$ 29,460,479
TK Elevator Topco GmbH, Term Loan, 7.597%, (6 mo. EURIBOR + 3.63%), 7/30/27	EUR	12,100	12,600,969
Vertical US Newco, Inc., Term Loan, 9.381%, (SOFR + 3.50%), 7/30/27		6	6,138
Zephyr German BidCo GmbH, Term Loan, 7.833%, (3 mo. EURIBOR + 3.85%), 3/10/28	EUR	13,675	13,665,653
			$ 372,795,863
Media — 1.7%
CSC Holdings, LLC:
Term Loan, 7.699%, (1 mo. USD LIBOR + 2.25%), 7/17/25		24,723	$ 24,045,725
Term Loan, 7.699%, (1 mo. USD LIBOR + 2.25%), 1/15/26		5,592	5,391,043
Hubbard Radio, LLC, Term Loan, 9.69%, (1 mo. USD LIBOR + 4.25%), 3/28/25		7,610	6,443,074
iHeartCommunications, Inc.:
Term Loan, 8.439%, (SOFR + 3.00%), 5/1/26		1,127	964,957
Term Loan, 8.689%, (SOFR + 3.25%), 5/1/26		3,165	2,718,891
Mission Broadcasting, Inc., Term Loan, 7.939%, (SOFR + 2.50%), 6/2/28		4,008	4,014,639
Nexstar Broadcasting, Inc., Term Loan, 7.939%, (SOFR + 2.50%), 9/18/26		1,167	1,168,113
Recorded Books, Inc., Term Loan, 9.324%, (SOFR + 4.00%), 8/29/25		11,351	11,347,501
Sinclair Television Group, Inc.:
Term Loan, 7.939%, (SOFR + 2.50%), 9/30/26		5,305	4,479,575
Term Loan, 8.439%, (SOFR + 3.00%), 4/1/28		25,186	18,185,893
Univision Communications, Inc., Term Loan, 8.689%, (SOFR + 3.25%), 3/15/26		23,194	23,057,713
			$ 101,817,124
Metals/Mining — 1.5%
Arsenal AIC Parent, LLC, Term Loan, 9.879%, (SOFR + 4.50%), 8/18/30		18,425	$ 18,413,484
Dynacast International, LLC:
Term Loan, 10.017%, (SOFR + 4.50%), 7/22/25		16,367	15,343,726
Term Loan, 14.517%, (SOFR + 9.00%), 10/22/25		2,926	2,209,012
PMHC II, Inc., Term Loan, 9.807%, (SOFR + 4.25%), 4/23/29		20,550	18,747,407
WireCo WorldGroup, Inc., Term Loan, 9.699%, (SOFR + 4.25%), 11/13/28		6,458	6,433,987
Zekelman Industries, Inc., Term Loan, 7.449%, (SOFR + 2.00%), 1/24/27		26,813	26,790,361
			$ 87,937,977

Borrower/Description	Principal Amount* (000's omitted)		Value
Oil, Gas & Consumable Fuels — 1.4%
Freeport LNG Investments, LLP, Term Loan, 9.177%, (SOFR + 3.50%), 12/21/28		9,279	$ 9,132,811
GIP II Blue Holding, L.P., Term Loan, 9.939%, (SOFR + 4.50%), 9/29/28		17,292	17,337,555
ITT Holdings, LLC, Term Loan, 10/5/30⁽⁹⁾		10,850	10,704,198
Matador Bidco S.a.r.l., Term Loan, 9.924%, (SOFR + 4.50%), 10/15/26		30,332	30,402,592
Oxbow Carbon, LLC, Term Loan, 9.457%, (SOFR + 4.00%), 5/10/30⁽¹⁰⁾		7,506	7,501,496
QuarterNorth Energy Holding, Inc., Term Loan - Second Lien, 13.439%, (SOFR + 8.00%), 8/27/26		7,607	7,602,609
			$ 82,681,261
Personal Products — 0.2%
HLF Financing S.a.r.l., Term Loan, 7.939%, (SOFR + 2.50%), 8/18/25		13,794	$ 13,683,744
			$ 13,683,744
Pharmaceuticals — 2.2%
Aenova Holding GmbH, Term Loan, 8.487%, (3 mo. EURIBOR + 4.50%), 3/6/26	EUR	4,075	$ 4,293,791
AI Sirona (Luxembourg) Acquisition S.a.r.l., Term Loan, 8.868%, (1 mo. EURIBOR + 5.00%), 9/30/28	EUR	12,550	13,288,454
Bausch Health Companies, Inc., Term Loan, 10.689%, (SOFR + 5.25%), 2/1/27		18,433	14,463,005
Ceva Sante Animale:
Term Loan, 11/1/30⁽⁹⁾	EUR	13,200	13,910,749
Term Loan, 11/1/30⁽⁹⁾		5,375	5,381,719
Elanco Animal Health Incorporated, Term Loan, 7.165%, (SOFR + 1.75%), 8/1/27		7,960	7,785,446
Jazz Financing Lux S.a.r.l., Term Loan, 8.939%, (SOFR + 3.50%), 5/5/28		8,317	8,326,220
Mallinckrodt International Finance S.A.:
DIP Loan, 13.439%, (SOFR + 8.00%), 8/28/24		1,788	1,861,122
DIP Loan, 13.451%, (SOFR + 8.00%), 8/28/24		3,379	3,527,311
Term Loan, 12.703%, (SOFR + 7.25%), 9/30/27		38,268	29,143,242
Term Loan, 12.953%, (SOFR + 7.50%), 9/30/27		12,161	9,295,692
PharmaZell GmbH, Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 5/12/27	EUR	1,950	1,992,112
Recipharm AB, Term Loan, 6.737%, (3 mo. EURIBOR + 2.95%), 2/17/28	EUR	15,275	15,449,603
			$ 128,718,466

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Professional Services — 2.7%
APFS Staffing Holdings, Inc., Term Loan, 9.324%, (SOFR + 4.00%), 12/29/28		3,940	$ 3,875,975
Apleona Holding GmbH, Term Loan, 6.898%, (3 mo. EURIBOR + 2.95%), 4/28/28	EUR	10,525	10,872,014
ASGN Incorporated, Term Loan, 7.574%, (SOFR + 2.25%), 8/30/30		4,875	4,898,614
CoreLogic, Inc., Term Loan, 8.939%, (SOFR + 3.50%), 6/2/28		17,334	15,817,118
Corporation Service Company, Term Loan, 8.674%, (SOFR + 3.25%), 11/2/29		4,991	4,997,762
Deerfield Dakota Holding, LLC, Term Loan, 9.14%, (SOFR + 3.75%), 4/9/27		10,728	10,382,005
EAB Global, Inc., Term Loan, 8.939%, (SOFR + 3.50%), 8/16/28		15,695	15,454,120
Employbridge Holding Company, Term Loan, 10.407%, (SOFR + 4.75%), 7/19/28		23,801	20,759,006
First Advantage Holdings, LLC, Term Loan, 8.189%, (SOFR + 2.75%), 1/31/27		3,606	3,611,349
Genuine Financial Holdings, LLC, Term Loan, 9.40%, (SOFR + 4.00%), 9/27/30		5,175	5,128,104
Neptune Bidco US, Inc., Term Loan, 10.507%, (SOFR + 5.00%), 4/11/29		9,129	8,032,206
Rockwood Service Corporation, Term Loan, 9.439%, (SOFR + 4.00%), 1/23/27		11,302	11,326,302
Trans Union, LLC:
Term Loan, 7.174%, (SOFR + 1.75%), 11/16/26		2,471	2,469,157
Term Loan, 7.689%, (SOFR + 2.25%), 12/1/28		34,098	34,089,508
Vaco Holdings, LLC, Term Loan, 10.393%, (SOFR + 5.00%), 1/21/29		5,453	5,173,719
			$ 156,886,959
Real Estate Management & Development — 1.0%
Cushman & Wakefield U.S. Borrower, LLC:
Term Loan, 8.189%, (SOFR + 2.75%), 8/21/25		921	$ 920,898
Term Loan, 8.674%, (SOFR + 3.25%), 1/31/30		10,634	10,182,019
Term Loan, 9.324%, (SOFR + 4.00%), 1/31/30		8,009	7,648,986
Greystar Real Estate Partners, LLC, Term Loan, 9.147%, (SOFR + 3.75%), 8/21/30		8,350	8,350,000
Homeserve USA Holding Corp., Term Loan, 8.416%, (SOFR + 3.00%), 10/21/30		12,075	12,044,812
RE/MAX International, Inc., Term Loan, 7.939%, (SOFR + 2.50%), 7/21/28		17,888	17,266,633
			$ 56,413,348
Road & Rail — 2.7%
Avis Budget Car Rental, LLC:
Term Loan, 7.189%, (SOFR + 1.75%), 8/6/27		33,771	$ 33,637,570

Borrower/Description	Principal Amount* (000's omitted)		Value
Road & Rail (continued)
Avis Budget Car Rental, LLC: (continued)
Term Loan, 8.924%, (SOFR + 3.50%), 3/16/29		4,104	$ 4,112,375
Grab Holdings, Inc., Term Loan, 9.939%, (SOFR + 4.50%), 1/29/26		17,194	17,264,084
Hertz Corporation (The):
Term Loan, 8.691%, (SOFR + 3.25%), 6/30/28		16,492	16,381,677
Term Loan, 8.691%, (SOFR + 3.25%), 6/30/28		3,180	3,158,379
Kenan Advantage Group, Inc., Term Loan, 9.477%, (SOFR + 3.75%), 3/24/26		16,820	16,795,688
Uber Technologies, Inc., Term Loan, 8.159%, (SOFR + 2.75%), 3/3/30		68,388	68,439,682
			$ 159,789,455
Semiconductors & Semiconductor Equipment — 1.2%
Altar Bidco, Inc.:
Term Loan, 8.142%, (SOFR + 3.10%), 2/1/29⁽¹⁰⁾		20,811	$ 20,653,470
Term Loan - Second Lien, 10.493%, (SOFR + 5.60%), 2/1/30		7,300	7,099,250
Bright Bidco B.V., Term Loan, 14.378%, (SOFR + 9.00%), 6.378% cash, 8.00% PIK, 10/31/27		4,376	1,712,251
Entegris, Inc., Term Loan, 7.89%, (SOFR + 2.50%), 7/6/29		1,261	1,263,364
MaxLinear, Inc., Term Loan, 7.689%, (SOFR + 2.25%), 6/23/28		3,250	3,201,250
MKS Instruments, Inc., Term Loan, 7.819%, (SOFR + 2.50%), 8/17/29		33,342	33,141,895
Synaptics Incorporated, Term Loan, 7.914%, (SOFR + 2.25%), 12/2/28		3,173	3,159,998
Ultra Clean Holdings, Inc., Term Loan, 9.191%, (SOFR + 3.75%), 8/27/25		2,848	2,855,431
			$ 73,086,909
Software — 16.4%
Applied Systems, Inc., Term Loan, 9.89%, (SOFR + 4.50%), 9/18/26		67,781	$ 68,011,446
Aptean, Inc.:
Term Loan, 9.674%, (SOFR + 4.25%), 4/23/26		22,344	22,326,156
Term Loan - Second Lien, 12.424%, (SOFR + 7.00%), 4/23/27		6,500	6,069,375
Astra Acquisition Corp.:
Term Loan, 10.902%, (SOFR + 5.25%), 10/25/28		14,219	9,753,192
Term Loan - Second Lien, 14.527%, (SOFR + 8.88%), 10/25/29		21,995	11,547,224
Banff Merger Sub, Inc.:
Term Loan, 7.868%, (1 mo. EURIBOR + 4.00%), 10/2/25	EUR	5,922	6,257,553
Term Loan, 9.189%, (SOFR + 3.75%), 10/2/25		14,998	15,001,149

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Software (continued)
Banff Merger Sub, Inc.: (continued)
Term Loan - Second Lien, 10.939%, (SOFR + 5.50%), 2/27/26		9,470	$ 9,432,518
Cegid Group SAS, Term Loan, 7/10/28⁽⁹⁾	EUR	7,850	8,255,902
Central Parent, Inc., Term Loan, 9.406%, (SOFR + 4.00%), 7/6/29		33,487	33,348,158
CentralSquare Technologies, LLC, Term Loan, 9.29%, (SOFR + 3.75%), 8/29/25		23,577	22,306,639
Cloud Software Group, Inc., Term Loan, 9.99%, (SOFR + 4.50%), 9/29/28⁽¹⁰⁾		22,472	21,348,286
Cloudera, Inc.:
Term Loan, 9.174%, (SOFR + 3.75%), 10/8/28		22,685	21,881,374
Term Loan - Second Lien, 11.424%, (SOFR + 6.00%), 10/8/29		4,450	4,013,344
Constant Contact, Inc., Term Loan, 9.687%, (SOFR + 4.00%), 2/10/28		12,979	12,067,507
Cornerstone OnDemand, Inc., Term Loan, 9.189%, (SOFR + 3.75%), 10/16/28		16,991	16,083,272
Delta TopCo, Inc., Term Loan, 9.069%, (SOFR + 3.75%), 12/1/27		14,035	13,838,071
E2open, LLC, Term Loan, 8.939%, (SOFR + 3.50%), 2/4/28		20,063	19,825,208
ECI Macola Max Holding, LLC, Term Loan, 9.402%, (SOFR + 3.75%), 11/9/27		26,794	26,697,268
Epicor Software Corporation:
Term Loan, 8.689%, (SOFR + 3.25%), 7/30/27		69,746	69,488,218
Term Loan, 9.074%, (SOFR + 3.75%), 7/30/27		10,900	10,931,337
Fiserv Investment Solutions, Inc., Term Loan, 9.383%, (SOFR + 4.00%), 2/18/27		12,035	11,309,136
Gen Digital, Inc., Term Loan, 7.424%, (SOFR + 2.00%), 9/12/29		3,652	3,624,166
GoTo Group, Inc., Term Loan, 10.283%, (SOFR + 4.75%), 8/31/27		28,349	17,948,603
IGT Holding IV AB:
Term Loan, 7.122%, (3 mo. EURIBOR + 3.15%), 3/31/28	EUR	6,205	6,406,403
Term Loan, 8.962%, (SOFR + 3.40%), 3/31/28		1,657	1,649,758
Imperva, Inc., Term Loan, 9.627%, (SOFR + 4.00%), 1/12/26		4,899	4,908,098
iSolved, Inc., Term Loan, 9.484%, (SOFR + 4.00%), 10/14/30		6,550	6,562,281
Ivanti Software, Inc., Term Loan, 9.907%, (SOFR + 4.25%), 12/1/27		10,275	9,159,946
Magenta Buyer, LLC:
Term Loan, 10.645%, (SOFR + 5.00%), 7/27/28		22,176	15,523,291
Term Loan - Second Lien, 13.895%, (SOFR + 8.25%), 7/27/29		7,475	3,236,675

Borrower/Description	Principal Amount* (000's omitted)		Value
Software (continued)
Marcel LUX IV S.a.r.l.:
Term Loan, 7.455%, (3 mo. EURIBOR + 3.50%), 3/16/26	EUR	9,150	$ 9,675,567
Term Loan, 8.689%, (SOFR + 3.25%), 3/15/26		15,965	15,965,033
Term Loan, 9.436%, (SOFR + 4.00%), 12/31/27		3,254	3,254,231
Maverick Bidco, Inc., Term Loan, 9.283%, (SOFR + 3.75%), 5/18/28		11,914	11,663,223
McAfee, LLC, Term Loan, 9.165%, (SOFR + 3.75%), 3/1/29		24,476	23,440,877
Mosel Bidco SE:
Term Loan, 8.691%, (3 mo. EURIBOR + 4.75%), 9/16/30	EUR	1,825	1,918,987
Term Loan, 10.164%, (SOFR + 4.75%), 9/16/30		3,275	3,270,906
N-Able International Holdings II, LLC, Term Loan, 8.434%, (SOFR + 2.75%), 7/19/28		1,632	1,629,494
Open Text Corporation, Term Loan, 8.174%, (SOFR + 2.75%), 1/31/30		28,443	28,473,452
Polaris Newco, LLC:
Term Loan, 7.868%, (1 mo. EURIBOR + 4.00%), 6/2/28	EUR	9,163	9,143,949
Term Loan, 9.439%, (SOFR + 4.00%), 6/2/28		7,770	7,355,519
Project Alpha Intermediate Holding, Inc., Term Loan, 10/28/30⁽⁹⁾		5,500	5,350,713
Proofpoint, Inc.:
Term Loan, 8.689%, (SOFR + 3.25%), 8/31/28		39,330	38,729,406
Term Loan - Second Lien, 11.689%, (SOFR + 6.25%), 8/31/29		2,070	2,081,321
Quartz Acquireco, LLC, Term Loan, 8.824%, (SOFR + 3.50%), 6/28/30		10,625	10,625,000
Quest Software US Holdings, Inc., Term Loan, 9.783%, (SOFR + 4.25%), 2/1/29		25,210	20,068,835
RealPage, Inc., Term Loan, 8.439%, (SOFR + 3.00%), 4/24/28		10,981	10,739,861
Red Planet Borrower, LLC, Term Loan, 9.174%, (SOFR + 3.75%), 10/2/28		16,613	15,557,804
Redstone Holdco 2, L.P., Term Loan, 10.189%, (SOFR + 4.75%), 4/27/28		12,915	10,380,338
Sabre GLBL, Inc.:
Term Loan, 8.939%, (SOFR + 3.50%), 12/17/27		8,392	7,185,831
Term Loan, 8.939%, (SOFR + 3.50%), 12/17/27		5,371	4,598,562
Term Loan, 9.674%, (SOFR + 4.25%), 6/30/28		7,345	6,291,941
Term Loan, 10.424%, (SOFR + 5.00%), 6/30/28		1,000	858,333
Skillsoft Corporation, Term Loan, 10.699%, (SOFR + 5.25%), 7/14/28		14,915	13,688,972
SolarWinds Holdings, Inc., Term Loan, 9.074%, (SOFR + 3.75%), 2/5/27		26,616	26,641,216
Sophia, L.P., Term Loan, 8.924%, (SOFR + 3.50%), 10/7/27		32,861	32,475,124

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Borrower/Description	Principal Amount* (000's omitted)		Value
Software (continued)
SS&C European Holdings S.a.r.l., Term Loan, 7.189%, (SOFR + 1.75%), 4/16/25		4,995	$ 4,999,276
SS&C Technologies, Inc.:
Term Loan, 7.189%, (SOFR + 1.75%), 4/16/25		5,290	5,294,273
Term Loan, 7.189%, (SOFR + 1.75%), 4/16/25		4,745	4,748,421
Term Loan, 7.674%, (SOFR + 2.25%), 3/22/29		2,978	2,979,123
Term Loan, 7.674%, (SOFR + 2.25%), 3/22/29		4,718	4,719,194
Turing Midco, LLC, Term Loan, 7.939%, (SOFR + 2.50%), 3/24/28		726	724,553
Ultimate Software Group, Inc. (The):
Term Loan, 8.764%, (SOFR + 3.25%), 5/4/26		54,101	53,888,185
Term Loan, 9.233%, (SOFR + 3.75%), 5/4/26		782	781,231
Veritas US, Inc., Term Loan, 10.439%, (SOFR + 5.11%), 9/1/25		20,007	16,987,401
Vision Solutions, Inc.:
Term Loan, 9.64%, (SOFR + 4.00%), 4/24/28		39,257	37,514,755
Term Loan - Second Lien, 12.791%, (SOFR + 7.25%), 4/23/29		1,500	1,332,187
VS Buyer, LLC, Term Loan, 8.674%, (SOFR + 3.25%), 2/28/27		1,812	1,801,117
			$ 965,645,765
Specialty Retail — 2.6%
Belron Luxembourg S.a.r.l., Term Loan, 6.147%, (3 mo. EURIBOR + 2.43%), 4/13/28	EUR	3,925	$ 4,151,561
Boels Topholding B.V., Term Loan, 7.049%, (EURIBOR + 3.25%), 2/6/27⁽¹⁰⁾	EUR	7,586	8,028,637
Etraveli Holding AB, Term Loan, 7.972%, (3 mo. EURIBOR + 4.00%), 8/2/24	EUR	9,472	10,009,840
Great Outdoors Group, LLC, Term Loan, 9.402%, (SOFR + 3.75%), 3/6/28		35,275	35,065,436
Harbor Freight Tools USA, Inc., Term Loan, 8.189%, (SOFR + 2.75%), 10/19/27		25,349	25,065,068
Hoya Midco, LLC, Term Loan, 8.633%, (SOFR + 3.25%), 2/3/29		4,845	4,846,963
Les Schwab Tire Centers, Term Loan, 8.692%, (SOFR + 3.25%), 11/2/27		28,684	28,624,423
LIDS Holdings, Inc., Term Loan, 11.06%, (SOFR + 5.50%), 12/14/26		5,527	5,347,705
Mattress Firm, Inc., Term Loan, 9.95%, (6 mo. USD LIBOR + 4.25%), 9/25/28		17,449	17,268,984
PetSmart, Inc., Term Loan, 9.174%, (SOFR + 3.75%), 2/11/28		15,390	15,237,590
			$ 153,646,207

Borrower/Description	Principal Amount* (000's omitted)		Value
Trading Companies & Distributors — 3.5%
Avolon TLB Borrower 1 (US), LLC:
Term Loan, 7.689%, (SOFR + 2.25%), 12/1/27		17,796	$ 17,819,649
Term Loan, 7.839%, (SOFR + 2.50%), 6/22/28		23,366	23,395,368
Core & Main, L.P., Term Loan, 7.967%, (SOFR + 2.50%), 7/27/28⁽¹⁰⁾		9,545	9,548,978
DXP Enterprises, Inc., Term Loan, 10.291%, (SOFR + 4.75%), 10/11/30		9,150	9,104,250
Electro Rent Corporation, Term Loan, 11.002%, (SOFR + 5.50%), 11/1/24		21,917	20,602,422
Hillman Group, Inc. (The), Term Loan, 8.189%, (SOFR + 2.75%), 7/14/28		1,078	1,076,957
Park River Holdings, Inc., Term Loan, 8.907%, (SOFR + 3.25%), 12/28/27		3,726	3,531,593
Patagonia Bidco Limited, Term Loan, 10.181%, (SONIA + 5.25%), 11/1/28	GBP	20,050	20,424,904
PEARLS (Netherlands) Bidco B.V., Term Loan, 7.448%, (3 mo. EURIBOR + 3.50%), 2/26/29	EUR	6,000	6,199,143
Spin Holdco, Inc., Term Loan, 9.664%, (SOFR + 4.00%), 3/4/28		51,147	43,966,470
SRS Distribution, Inc.:
Term Loan, 8.825%, (SOFR + 3.50%), 6/2/28		5,355	5,246,194
Term Loan, 8.939%, (SOFR + 3.50%), 6/2/28		16,294	15,953,575
White Cap Buyer, LLC, Term Loan, 9.074%, (SOFR + 3.75%), 10/19/27		16,349	16,260,597
Windsor Holdings III, LLC, Term Loan, 9.815%, (SOFR + 4.50%), 8/1/30		13,900	13,874,563
			$ 207,004,663
Wireless Telecommunication Services — 0.5%
CCI Buyer, Inc., Term Loan, 9.39%, (SOFR + 4.00%), 12/17/27		9,871	$ 9,678,967
Digicel International Finance Limited, Term Loan, 8.902%, (3 mo. USD LIBOR + 3.25%), 5/28/24		18,919	17,421,048
			$ 27,100,015
Total Senior Floating-Rate Loans (identified cost $6,735,136,792)			$ 6,381,790,440

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Portfolio of Investments — continued

Short-Term Investments — 1.4%

Security	Shares		Value
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.25%⁽¹³⁾		83,572,578	$ 83,572,578
Total Short-Term Investments (identified cost $83,572,578)			$ 83,572,578
Total Investments — 126.3% (identified cost $7,924,675,250)			$ 7,423,036,997
Less Unfunded Loan Commitments — (0.2)%			$ (10,209,831)
Net Investments — 126.1% (identified cost $7,914,465,419)			$ 7,412,827,166
Other Assets, Less Liabilities — (26.1)%			$ (1,537,361,779)
Net Assets — 100.0%			$ 5,875,465,387

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.
*	In U.S. dollars unless otherwise indicated.
⁽¹⁾	Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At October 31, 2023, the aggregate value of these securities is $871,306,678 or 14.8% of the Portfolio's net assets.
⁽²⁾	Variable rate security. The stated interest rate represents the rate in effect at October 31, 2023.
⁽³⁾	For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 8).
⁽⁴⁾	Non-income producing security.
⁽⁵⁾	Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale.

⁽⁶⁾	Amount is less than 0.05%.
⁽⁷⁾	When-issued security.
⁽⁸⁾	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 Secured Overnight Financing Rate (“SOFR”) (or the London Interbank Offered Rate (“LIBOR”) for those loans whose rates reset prior to the discontinuance of LIBOR on June 30, 2023) 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. Rates for SOFR are generally 1 or 3-month tenors and may also be subject to a credit spread adjustment. Senior Loans are generally subject to contractual restrictions that must be satisfied before they can be bought or sold.
⁽⁹⁾	This Senior Loan will settle after October 31, 2023, at which time the interest rate will be determined.
⁽¹⁰⁾	The stated interest rate represents the weighted average interest rate at October 31, 2023 of contracts within the senior loan facility. Interest rates on contracts are primarily redetermined either monthly or quarterly by reference to the indicated base lending rate and spread and the reset period.
⁽¹¹⁾	Unfunded or partially unfunded loan commitments. The stated interest rate reflects the weighted average of the reference rate and spread for the funded portion, if any, and the commitment fees on the portion of the loan that is unfunded. At October 31, 2023, the total value of unfunded loan commitments is $7,617,406. See Note 1F for description.
⁽¹²⁾	Issuer is in default with respect to interest and/or principal payments or has declared bankruptcy. For a variable rate security, interest rate has been adjusted to reflect non-accrual status.
⁽¹³⁾	May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of October 31, 2023.

Forward Foreign Currency Exchange Contracts (OTC)
Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation	Unrealized (Depreciation)
USD	315,263,746	EUR	297,407,318	Standard Chartered Bank	11/2/23	$ 576,977	$ —
EUR	20,000,000	USD	21,486,354	Citibank, N.A.	11/30/23	—	(300,653)
EUR	40,000,000	USD	42,327,580	Standard Chartered Bank	11/30/23	43,822	—
GBP	2,357,648	USD	2,857,894	Bank of America, N.A.	11/30/23	8,173	—
GBP	3,000,000	USD	3,745,067	Standard Chartered Bank	11/30/23	—	(98,127)
USD	116,064,697	EUR	106,243,836	Bank of America, N.A.	11/30/23	3,522,189	—
USD	62,855,595	EUR	57,560,153	Bank of America, N.A.	11/30/23	1,882,985	—
USD	72,465,865	EUR	66,379,854	State Street Bank and Trust Company	11/30/23	2,150,676	—
USD	2,232,524	EUR	2,045,193	The Toronto-Dominion Bank	11/30/23	66,081	—
USD	41,739,674	GBP	33,074,976	State Street Bank and Trust Company	11/30/23	1,532,194	—

See Notes to Financial Statements.

Table of Contents

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October 31, 2023

Portfolio of Investments — continued

Forward Foreign Currency Exchange Contracts (OTC) (continued)
Currency Purchased		Currency Sold		Counterparty	Settlement Date	Unrealized Appreciation	Unrealized (Depreciation)
USD	314,756,312	EUR	297,407,318	Standard Chartered Bank	12/4/23	$ —	$ (333,443)
EUR	17,000,000	USD	18,051,246	Standard Chartered Bank	12/29/23	—	(13,840)
GBP	6,000,000	USD	7,317,447	State Street Bank and Trust Company	12/29/23	—	(21,207)
USD	7,102,868	EUR	6,729,574	Australia and New Zealand Banking Group Limited	12/29/23	—	(37,372)
USD	32,690,461	EUR	31,000,000	Australia and New Zealand Banking Group Limited	12/29/23	—	(201,279)
USD	32,704,566	EUR	31,000,000	Goldman Sachs International	12/29/23	—	(187,174)
USD	32,690,188	EUR	31,000,000	State Street Bank and Trust Company	12/29/23	—	(201,552)
USD	34,097,643	EUR	32,342,549	State Street Bank and Trust Company	12/29/23	—	(218,574)
USD	34,095,356	EUR	32,342,549	State Street Bank and Trust Company	12/29/23	—	(220,860)
						$9,783,097	$(1,834,081)

Abbreviations:
DIP	– Debtor In Possession
EURIBOR	– Euro Interbank Offered Rate
LIBOR	– London Interbank Offered Rate
OTC	– Over-the-counter
PIK	– Payment In Kind
SOFR	– Secured Overnight Financing Rate
SONIA	– Sterling Overnight Interbank Average

Currency Abbreviations:
EUR	– Euro
GBP	– British Pound Sterling
USD	– United States Dollar

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Statement of Cash Flows

	Year Ended
	October 31, 2023
Cash Flows From Operating Activities
Net increase in net assets from operations	$ 745,735,714
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities:
Investments purchased	(1,225,778,411)
Investments sold and principal repayments	3,503,558,761
Decrease in short-term investments, net	2,637,385
Net amortization/accretion of premium (discount)	(18,858,014)
Amortization of prepaid upfront fees on notes payable	3,951,049
Increase in interest receivable	(2,070,002)
Increase in dividends receivable from affiliated investments	(102,095)
Increase in Trustees’ deferred compensation plan	(273,147)
Decrease in payable to affiliate for investment adviser fee	(708,469)
Increase in payable to affiliate for Trustees' deferred compensation plan	273,147
Decrease in accrued expenses	(122,395)
Decrease in unfunded loan commitments	(7,313,422)
Net change in unrealized (appreciation) depreciation from investments	(484,673,959)
Net change in unrealized (appreciation) depreciation from forward foreign currency exchange contracts	(11,505,499)
Net realized loss from investments	256,805,482
Net cash provided by operating activities	$ 2,761,556,125
Cash Flows From Financing Activities
Proceeds from capital contributions	$ 365,123,130
Payments for capital withdrawals	(2,604,898,648)
Proceeds from notes payable	375,000,000
Repayments of notes payable	(925,000,000)
Payment of prepaid upfront fees on notes payable	(3,787,500)
Net cash used in financing activities	$(2,793,563,018)
Net decrease in cash and restricted cash*	$ (32,006,893)
Cash and restricted cash at beginning of year (including foreign currency)	$ 87,608,058
Cash and restricted cash at end of year (including foreign currency)	$ 55,601,165
Supplemental disclosure of cash flow information:
Cash paid for interest and fees on borrowings	$ 114,591,036

*	Includes net change in unrealized (appreciation) depreciation on foreign currency of $(26,993).

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.


	October 31, 2023
Cash	$ 26,564,056
Deposits for derivatives collateral — forward foreign currency exchange contracts	1,720,000
Foreign currency	27,317,109
Total cash and restricted cash as shown on the Statement of Cash Flows	$55,601,165

See Notes to Financial Statements.

Table of Contents

Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements

1 Significant Accounting Policies

Senior Debt Portfolio (the Portfolio) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The Portfolio’s investment objective is to provide a high level of current income. The Declaration of Trust permits the Trustees to issue interests in the Portfolio. At October 31, 2023, Eaton Vance Floating-Rate Advantage Fund, Eaton Vance Short Duration Strategic Income Fund and Eaton Vance Short Duration Inflation-Protected Income Fund held an interest of 96.2%, 1.8% and 2.0%, respectively, in the Portfolio.

The following is a summary of significant accounting policies of the Portfolio. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Portfolio 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) are valued generally at the average mean of bid and ask quotations obtained from a third party pricing service. Senior Loans, for which a valuation is not available or deemed unreliable, are fair valued by the investment adviser utilizing one or more of the valuation techniques described below to assess the likelihood that the borrower will make a full repayment of the loan underlying such Senior Loan. 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 relative to yields on other Senior Loans issued by companies of comparable credit quality. 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. Junior Loans (i.e., subordinated loans and second lien loans) are valued in the same manner as Senior Loans.

Debt Obligations. Debt obligations are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and ask prices, broker/dealer quotations, prices or yields of securities with similar characteristics, interest rates, anticipated prepayments, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term debt obligations purchased with a remaining maturity of sixty days or less for which a valuation from a third party pricing service is not readily available may be valued at amortized cost, which approximates fair value.

Equity Securities. Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and ask prices on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ National Market System 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 Portfolio’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.

Other. Investments in management investment companies (including money market funds) that do not trade on an exchange are valued at the net asset value as of the close of each business day.

Fair Valuation. In connection with Rule 2a-5 of the 1940 Act, the Trustees have designated the Portfolio’s investment adviser as its valuation designee. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued by the investment adviser, as valuation designee, at fair value using methods that most fairly reflect the security’s “fair value”, which is the amount that the Portfolio 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,

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Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements — continued

quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial statements, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

B Investment Transactions—Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

C Income—Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount. Fees associated with loan amendments are recognized immediately. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Withholding taxes on foreign dividends have been provided for in accordance with the Portfolio’s understanding of the applicable countries’ tax rules and rates. Distributions from investment companies are recorded as dividend income, capital gains or return of capital based on the nature of the distribution.

D Federal Taxes—The Portfolio has elected to be treated as a partnership for federal tax purposes. No provision is made by the Portfolio for federal or state taxes on any taxable income of the Portfolio because each investor in the Portfolio is ultimately responsible for the payment of any taxes on its share of taxable income. Since at least one of the Portfolio's investors is a regulated investment company that invests all or substantially all of its assets in the Portfolio, the Portfolio normally must satisfy the applicable source of income and diversification requirements (under the Internal Revenue Code) in order for its investors to satisfy them. The Portfolio will allocate, at least annually among its investors, each investor's distributive share of the Portfolio's net investment income, net realized capital gains and losses and any other items of income, gain, loss, deduction or credit.

As of October 31, 2023, the Portfolio had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Portfolio 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 Portfolio may enter into certain loan agreements all or a portion of which may be unfunded. The Portfolio is obligated to fund these commitments at the borrower's discretion. These commitments are disclosed in the accompanying Portfolio of Investments. At October 31, 2023, the Portfolio 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 Portfolio’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 Portfolio. Under Massachusetts law, if certain conditions prevail, interestholders in the Portfolio could be deemed to have personal liability for the obligations of the Portfolio. However, the Portfolio’s Declaration of Trust contains an express disclaimer of liability on the part of Portfolio interestholders. Additionally, in the normal course of business, the Portfolio enters into agreements with service providers that may contain indemnification clauses. The Portfolio’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolio that have not yet occurred.

I Forward Foreign Currency Exchange Contracts—The Portfolio 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 Portfolio may purchase 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 Portfolio 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. Such security purchases are subject to the risk that when delivered they will be worth less than the agreed upon payment price. Losses may also arise if the counterparty does not perform under the contract.

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Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements — continued

2 Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by Boston Management and Research (BMR), an indirect, wholly-owned subsidiary of Morgan Stanley, as compensation for investment advisory services rendered to the Portfolio. The fee is computed at an annual rate as a percentage of average daily gross assets as follows and is payable monthly:

Average Daily Gross Assets	Annual Fee Rate
Up to and including $1 billion	0.5000%
In excess of $1 billion up to and including $2 billion	0.4500%
In excess of $2 billion up to and including $7 billion	0.4000%
In excess of $7 billion up to and including $10 billion	0.3875%
In excess of $10 billion up to and including $15 billion	0.3750%
In excess of $15 billion	0.3625%

Gross assets are calculated by deducting all liabilities of the Portfolio except the principal amount of any indebtedness for money borrowed. For the year ended October 31, 2023, the Portfolio’s investment adviser fee amounted to $33,952,435 or 0.54% of the Portfolio's average daily net assets. The Portfolio may invest in a money market fund, the Institutional Class of the Morgan Stanley Institutional Liquidity Funds - Government Portfolio (the “Liquidity Fund”), an open-end management investment company managed by Morgan Stanley Investment Management Inc., a wholly-owned subsidiary of Morgan Stanley. The investment adviser fee paid by the Portfolio is reduced by an amount equal to its pro rata share of the advisory and administration fees paid by the Portfolio due to its investment in the Liquidity Fund. For the year ended October 31, 2023, the investment adviser fee paid was reduced by $187,525 relating to the Portfolio's investment in the Liquidity Fund.

Trustees and officers of the Portfolio who are members of BMR’s organization receive remuneration for their services to the Portfolio out of the investment adviser fee. Trustees of the Portfolio who are not affiliated with the investment adviser 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. Certain officers and Trustees of the Portfolio are officers of the above organization.

3 Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations and including maturities, paydowns and principal repayments on Senior Loans, aggregated $1,391,620,740 and $3,439,247,956, respectively, for the year ended October 31, 2023.

4 Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments, including open derivative contracts, of the Portfolio at October 31, 2023, as determined on a federal income tax basis, were as follows:

Aggregate cost	$7,855,187,552
Gross unrealized appreciation	$ 33,109,887
Gross unrealized depreciation	(475,470,273)
Net unrealized depreciation	$ (442,360,386)

5 Financial Instruments

The Portfolio 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 Portfolio 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 October 31, 2023 is included in the Portfolio of Investments. At October 31, 2023, the Portfolio had sufficient cash and/or securities to cover commitments under these contracts.

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Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements — continued

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

The Portfolio 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 Portfolio's net assets below a certain level over a certain period of time, which would trigger a payment by the Portfolio for those derivatives in a liability position. At October 31, 2023, the fair value of derivatives with credit related contingent features in a net liability position was $1,834,081. The aggregate fair value of assets pledged as collateral by the Portfolio for such liability was $1,720,000 at October 31, 2023.

The over-the-counter (OTC) derivatives in which the Portfolio 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 Portfolio 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 Portfolio 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 Portfolio 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 Portfolio’s net assets decline by a stated percentage or the Portfolio fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Portfolio 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 Portfolio and/or counterparty is held in segregated accounts by the Portfolio’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 Portfolio, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Portfolio 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 October 31, 2023 was as follows:

	Fair Value
Derivative	Asset Derivative⁽¹⁾	Liability Derivative⁽²⁾
Forward foreign currency exchange contracts	$9,783,097	$(1,834,081)

⁽¹⁾	Statement of Assets and Liabilities location: Receivable for open forward foreign currency exchange contracts.
⁽²⁾	Statement of Assets and Liabilities location: Payable for open forward foreign currency exchange contracts.

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Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements — continued

The Portfolio'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 Portfolio’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 Portfolio for such assets and pledged by the Portfolio for such liabilities as of October 31, 2023.

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)
Bank of America, N.A.	$ 5,413,347	$ —	$ (5,133,962)	$ —	$ 279,385
Standard Chartered Bank	620,799	(445,410)	—	—	175,389
State Street Bank and Trust Company	3,682,870	(662,193)	(1,523,875)	—	1,496,802
The Toronto-Dominion Bank	66,081	—	—	—	66,081
	$9,783,097	$(1,107,603)	$(6,657,837)	$ —	$2,017,657

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)
Australia and New Zealand Banking Group Limited	$ (238,651)	$ —	$ —	$ 238,651	$ —
Citibank, N.A.	(300,653)	—	—	300,653	—
Goldman Sachs International	(187,174)	—	—	187,174	—
Standard Chartered Bank	(445,410)	445,410	—	—	—
State Street Bank and Trust Company	(662,193)	662,193	—	—	—
	$(1,834,081)	$1,107,603	$ —	$726,478	$ —

^(a)	In some instances, the total collateral received and/or pledged may be more than the amount shown due to overcollateralization.
^(b)	Net amount represents the net amount due from the counterparty in the event of default.
^(c)	Net amount represents the net amount payable to the counterparty in the event of default.

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations and whose primary underlying risk is foreign exchange risk for the year ended October 31, 2023 was as follows:

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	$(67,585,880)	$11,505,499

⁽¹⁾	Statement of Operations location: Net realized gain (loss): Forward foreign currency exchange contracts.
⁽²⁾	Statement of Operations location: Change in unrealized appreciation (depreciation): Forward foreign currency exchange contracts.

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 October 31, 2023, which is indicative of the volume of this derivative type, was approximately $1,353,880,000.

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Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements — continued

6 Revolving Credit and Security Agreement

The Portfolio has entered into a Revolving Credit and Security Agreement, as amended (the “Loan Facility”), with The Bank of Nova Scotia as direct lender and agent and certain other banks as direct lenders that allows it to borrow up to $2.525 billion ($2.825 billion prior to March 6, 2023) and to invest the borrowings in accordance with its investment practices. Borrowings under the Loan Facility are secured by the assets of the Portfolio and the Loan Facility is in effect through March 4, 2024. The Portfolio pays (1) an upfront fee equal to 0.15% of the total commitment amount under the Loan Facility, (2) a drawn fee equal to 0.90% per annum on outstanding borrowings (or, during periods prior to March 6, 2023, Term SOFR plus 0.11448% credit spread adjustment plus 4.40% on the outstanding borrowings funded by secondary lenders and a drawn fee equal to 0.90% per annum on outstanding borrowings funded by conduit lenders), and (3) a liquidity fee equal to 0.15% or 0.25% per annum of the undrawn amount under the Loan Facility depending on the amount borrowed by the Portfolio thereunder.

Prior to December 7, 2022, the lenders under the Loan Facility were certain conduits that issued commercial paper and were sponsored by Citibank, N.A. (“Citi”), with certain banks serving as direct lenders and Citi serving as secondary lender and agent for the conduit lenders. The Bank of Nova Scotia became lead agent on December 7, 2022 and, effective March 6, 2023, Citi and the conduit lenders exited the Loan Facility and the facility size decreased from $2.825 billion to $2.525 billion.

Drawn and liquidity fees for the year ended October 31, 2023 totaled $18,048,519 and are included in interest expense and fees on the Statement of Operations. In connection with the renewal of the Loan Facility on March 6, 2023, the Portfolio paid upfront fees of $3,787,500. These upfront fees are being amortized to interest expense through March 4, 2024. The unamortized balance at October 31, 2023 is approximately $1,307,000 and is included in prepaid upfront fees on notes payable on the Statement of Assets and Liabilities. At October 31, 2023, the Portfolio had borrowings outstanding under the Loan Facility of $1,525,000,000 at an annual interest rate of 5.45%. Based on the short-term nature of borrowings under the Loan Facility and the variable interest rate, the carrying amount of the borrowings at October 31, 2023 approximated its fair value. If measured at fair value, borrowings under the Loan Facility would have been considered as Level 2 in the fair value hierarchy (see Note 8) at October 31, 2023. For the year ended October 31, 2023, the average borrowings under the Loan Facility and the average annual interest rate (excluding fees) were $1,805,068,493 and 5.09%, respectively.

7 Affiliated Investments

At October 31, 2023, the value of the Portfolio's investment in funds that may be deemed to be affiliated was $83,572,578, which represents 1.4% of the Portfolio's net assets. Transactions in such investments by the Portfolio for the year ended October 31, 2023 were as follows:

Name	Value, beginning of period	Purchases	Sales proceeds	Net realized gain (loss)	Change in unrealized appreciation (depreciation)	Value, end of period	Dividend income	Shares, end of period
Short-Term Investments
Liquidity Fund	$86,209,963	$2,721,664,974	$(2,724,302,359)	$ —	$ —	$83,572,578	$5,747,653	83,572,578

8 Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

•	Level 1 – quoted prices in active markets for identical investments
•	Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
•	Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

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Senior Debt Portfolio

October 31, 2023

Notes to Financial Statements — continued

At October 31, 2023, the hierarchy of inputs used in valuing the Portfolio's investments and open derivative instruments, which are carried at fair value, were as follows:

Asset Description	Level 1	Level 2	Level 3*	Total
Asset-Backed Securities	$ —	$ 287,354,466	$ —	$ 287,354,466
Common Stocks	949,757	37,448,962	674,474	39,073,193
Corporate Bonds	—	607,931,525	—	607,931,525
Exchange-Traded Funds	15,955,200	—	—	15,955,200
Preferred Stocks	—	7,359,595	—	7,359,595
Senior Floating-Rate Loans (Less Unfunded Loan Commitments)	—	6,354,393,345	17,187,264	6,371,580,609
Short-Term Investments	83,572,578	—	—	83,572,578
Total Investments	$ 100,477,535	$ 7,294,487,893	$ 17,861,738	$ 7,412,827,166
Forward Foreign Currency Exchange Contracts	$ —	$ 9,783,097	$ —	$ 9,783,097
Total	$ 100,477,535	$ 7,304,270,990	$ 17,861,738	$ 7,422,610,263
Liability Description
Forward Foreign Currency Exchange Contracts	$ —	$ (1,834,081)	$ —	$ (1,834,081)
Total	$ —	$ (1,834,081)	$ —	$ (1,834,081)

*	None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Portfolio.

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 October 31, 2023 is not presented.

9 Risks and Uncertainties

Risks Associated with Foreign Investments

Foreign investments can be adversely affected by political, economic and market developments abroad, including the imposition of economic and other sanctions by the United States or another country. There may be less publicly available information about foreign issuers because they may not be subject to reporting practices, requirements or regulations comparable to those to which United States companies are subject. Foreign markets may be smaller, less liquid and more volatile than the major markets in the United States. Trading in foreign markets typically involves higher expense than trading in the United States. The Portfolio may have difficulties enforcing its legal or contractual rights in a foreign country. Securities that trade or are denominated in currencies other than the U.S. dollar may be adversely affected by fluctuations in currency exchange rates.

Credit Risk

The Portfolio 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.

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Senior Debt Portfolio

October 31, 2023

Report of Independent Registered Public Accounting Firm

To the Trustees and Investors of Senior Debt Portfolio:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Senior Debt Portfolio (the “Portfolio”), including the portfolio of investments, as of October 31, 2023, 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 Portfolio as of October 31, 2023, 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.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Portfolio’s management. Our responsibility is to express an opinion on the Portfolio’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 Portfolio 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 Portfolio 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 Portfolio’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 October 31, 2023, by correspondence with the custodian, brokers and agent banks; when replies were not received from brokers and agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP
Boston, Massachusetts
December 19, 2023

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

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Board of Trustees’ Contract Approval

Overview of the Contract Review Process

The Investment Company Act of 1940, as amended (the “1940 Act”), provides, in substance, that the investment advisory agreement between a fund and its investment adviser will continue in effect from year-to-year only if its continuation is approved on an annual basis by a vote of the fund’s board of trustees, including a majority of the trustees who are not “interested persons” of the fund (“independent trustees”), cast in person at a meeting called for the purpose of considering such approval.

At a meeting held on June 8, 2023, the Boards of Trustees/Directors (collectively, the “Board”) that oversee the registered investment companies advised by Eaton Vance Management or its affiliate, Boston Management and Research (the “Eaton Vance Funds”), including a majority of the independent trustees (the “Independent Trustees”), voted to approve the continuation of existing investment advisory agreements and sub-advisory agreements¹ for each of the Eaton Vance Funds for an additional one-year period. The Board relied upon the affirmative recommendation of its Contract Review Committee, which is a committee exclusively comprised of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by the adviser and sub-adviser to each of the Eaton Vance Funds (including information specifically requested by the Board) for a series of formal meetings held between April and June 2023, as well as certain additional information provided in response to specific requests from the Independent Trustees as members of the Contract Review Committee. Members of the Contract Review Committee also considered information received at prior meetings of the Board and its committees, to the extent such information was relevant to the Contract Review Committee’s annual evaluation of the investment advisory agreements and sub-advisory agreements.

In connection with its evaluation of the investment advisory agreements and sub-advisory agreements, the Board considered various information relating to the Eaton Vance Funds. This included information applicable to all or groups of Eaton Vance Funds, which is referenced immediately below, and information applicable to the particular Eaton Vance Fund covered by this report (each “Eaton Vance Fund” is referred to below as a “fund”). (For funds that invest through one or more underlying portfolios, references to “each fund” in this section may include information that was considered at the portfolio-level.)

Information about Fees, Performance and Expenses

• A report from an independent data provider comparing advisory and other fees paid by each fund to such fees paid by comparable funds, as identified by the independent data provider (“comparable funds”);

• A report from an independent data provider comparing each fund’s total expense ratio (and its components) to those of comparable funds;

• A report from an independent data provider comparing the investment performance of each fund (including, as relevant, total return data, income data, Sharpe ratios and information ratios) to the investment performance of comparable funds and, as applicable, benchmark indices, over various time periods;

• In certain instances, data regarding investment performance relative to customized groups of peer funds and blended indices identified by the adviser in consultation with the Portfolio Management Committee of the Board (a committee exclusively comprised of Independent Trustees);

• Comparative information concerning the fees charged and services provided by the adviser and sub-adviser to each fund in managing other accounts (which may include other mutual funds, collective investment funds and institutional accounts) using investment strategies and techniques similar to those used in managing such fund(s), if any;

• Profitability analyses with respect to the adviser and sub-adviser to each of the funds;

Information about Portfolio Management and Trading

• Descriptions of the investment management services provided to each fund, as well as each of the funds’ investment strategies and policies;

• The procedures and processes used to determine the value of fund assets, including, when necessary, the determination of “fair value” and actions taken to monitor and test the effectiveness of such procedures and processes;

• Information about the policies and practices of each fund’s adviser and sub-adviser with respect to trading, including their processes for seeking best execution of portfolio transactions;

• Information about the allocation of brokerage transactions and the benefits, if any, received by the adviser and sub-adviser to each fund as a result of brokerage allocation, including, as applicable, information concerning the acquisition of research through client commission arrangements and policies with respect to “soft dollars”;

• Data relating to the portfolio turnover rate of each fund and related information regarding active management in the context of particular strategies;

Information about each Adviser and Sub-adviser

• Reports detailing the financial results and condition of the adviser and sub-adviser to each fund;

• Information regarding the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and, for portfolio managers and certain other investment professionals, information relating to their responsibilities with respect to managing other mutual funds and investment accounts, as applicable;

¹Not all Eaton Vance Funds have entered into a sub-advisory agreement with a sub-adviser. Accordingly, references to “sub-adviser” or “sub-advisory agreement” in this “Overview” section may not be applicable to the particular Eaton Vance Fund covered by this report.

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Board of Trustees’ Contract Approval — continued

• Information regarding the adviser’s and its parent company’s (Morgan Stanley’s) efforts to retain and attract talented investment professionals, including in the context of a competitive marketplace for talent, as well as the ongoing unique environment presented by hybrid, remote and other alternative work arrangements;

• Information regarding the adviser’s compensation methodology for its investment professionals and the incentives and accountability it creates, along with investment professionals’ investments in the fund(s) they manage;

• The Code of Ethics of the adviser and its affiliates and the sub-adviser of each fund, together with information relating to compliance with, and the administration of, such codes;

• Policies and procedures relating to proxy voting, including regular reporting with respect to fund proxy voting activities;

• Information regarding the handling of corporate actions and class actions, as well as information regarding litigation and other regulatory matters;

• Information concerning the resources devoted to compliance efforts undertaken by the adviser and its affiliates and the sub-adviser of each fund, if any, including descriptions of their various compliance programs and their record of compliance;

• Information concerning the business continuity and disaster recovery plans of the adviser and its affiliates and the sub-adviser of each fund, if any;

• A description of Eaton Vance Management’s and Boston Management and Research’s oversight of sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters;

Other Relevant Information

• Information regarding ongoing initiatives to further integrate and harmonize, where applicable, the investment management and other departments of the adviser and its affiliates with the overall investment management infrastructure of Morgan Stanley, in light of Morgan Stanley’s acquisition of Eaton Vance Corp. on March 1, 2021;

• Information concerning the nature, cost and character of the administrative and other non-investment advisory services provided by Eaton Vance Management and its affiliates;

• Information concerning oversight of the relationship with the custodian, subcustodians, fund accountants, and other third-party service providers by the adviser and/or administrator to each of the funds;

• Information concerning efforts to implement policies and procedures with respect to various recently adopted regulations applicable to the funds, including Rule 12d1-4 (the Fund-of-Funds Rule), Rule 18f-4 (the Derivatives Rule) and Rule 2a-5 (the Fair Valuation Rule);

• For an Eaton Vance Fund structured as an exchange-listed closed-end fund, information concerning the benefits of the closed-end fund structure, as well as, where relevant, the closed-end fund’s market prices (including as compared to the closed-end fund’s net asset value (NAV)), trading volume data, continued use of auction preferred shares (where applicable), distribution rates and other relevant matters;

• The risks which the adviser and/or its affiliates incur in connection with the management and operation of the funds, including, among others, litigation, regulatory, entrepreneurial, and other business risks (and the associated costs of such risks); and

• The terms of each investment advisory agreement and sub-advisory agreement.

During the various meetings of the Board and its committees over the course of the year leading up to the June 8, 2023 meeting, the Board received information from portfolio managers and other investment professionals of the advisers and sub-advisers of the funds regarding investment and performance matters, and considered various investment and trading strategies used in pursuing the funds’ investment objectives. The Board also received information regarding risk management techniques employed in connection with the management of the funds. The Board and its committees evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management, Boston Management and Research and fund sub-advisers, with respect to such matters. In addition to the formal meetings of the Board and its committees, the Independent Trustees held regular teleconferences to discuss, among other topics, matters relating to the continuation of investment advisory agreements and sub-advisory agreements.

The Contract Review Committee was advised throughout the contract review process by Goodwin Procter LLP, independent legal counsel for the Independent Trustees. The members of the Contract Review Committee, with the advice of such counsel, exercised their own business judgment in determining the material factors to be considered in evaluating each investment advisory agreement and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment advisory agreement and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each investment advisory agreement and sub-advisory agreement. In evaluating each investment advisory agreement and sub-advisory agreement, including the fee structures and other terms contained in such agreements, the members of the Contract Review Committee were also informed by multiple years of analysis and discussion with the adviser and sub-adviser to each of the Eaton Vance Funds.

Results of the Contract Review Process

Based on its consideration of the foregoing, and such other information it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement between Eaton Vance Floating-Rate Advantage Fund (the “Fund”) and Eaton Vance Management (“EVM”), as well as the investment advisory agreement between Senior Debt Portfolio (the “Portfolio”), the portfolio in which the Fund invests, and Boston Management and Research (“BMR”) (EVM, with respect to the Fund, and BMR, with respect to the

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Board of Trustees’ Contract Approval — continued

Portfolio, are each referred to herein as the “Adviser”), including their respective fee structures, are in the interests of shareholders and, therefore, recommended to the Board approval of each 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 agreements for the Fund and the Portfolio (together, the “investment advisory agreements”).

Nature, Extent and Quality of Services

In considering whether to approve the investment advisory agreements for the Fund and the Portfolio, the Board evaluated the nature, extent and quality of services provided to the Fund and to the Portfolio by the applicable Adviser.

The Board considered each Adviser’s management capabilities and investment processes in light of the types of investments held by the Fund and the Portfolio, including the education, experience and number of investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Portfolio, including recent changes to such personnel. In particular, the Board considered the abilities and experience of each Adviser’s investment professionals in analyzing special considerations relevant to investing in senior floating rate loans. The Board considered each Adviser’s large group of bank loan investment professionals and other personnel who provide services to the Fund and to the Portfolio, including portfolio managers and analysts. The Board also took into account the resources dedicated to portfolio management and other services, the compensation methods of each 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 and the Portfolio, 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 and the Portfolio, including the provision of administrative services. The Board also considered the business-related and other risks to which each Adviser or its affiliates may be subject in managing the Fund and the Portfolio.

The Board noted that, under the terms of the investment advisory agreement of the Fund, EVM may invest assets of the Fund directly in securities, for which it would receive a fee, or in the Portfolio, for which it receives no separate fee but for which BMR receives an advisory fee from the Portfolio.

The Board considered the compliance programs of each 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 each Adviser and its affiliates to requests in recent years from regulatory authorities, such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

The Board considered other administrative services provided or overseen by EVM 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, as well as the ability, in many cases, to exchange an investment among different funds without incurring additional sales charges.

After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by each Adviser, taken as a whole, are appropriate and consistent with the terms of the applicable investment advisory agreement.

Fund Performance

The Board compared the Fund’s investment performance to that of comparable funds identified by an independent data provider (the peer group), as well as an appropriate benchmark index. The Board’s review included comparative performance data with respect to the Fund for the one-, three-, five- and ten-year periods ended December 31, 2022. In this regard, the Board noted that the performance of the Fund was consistent with the median performance of the Fund’s peer group for the three-year period. The Board also noted that the performance of the Fund was lower than its benchmark index for the three-year period. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board considered contractual fee rates payable by the Portfolio and 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 December 31, 2022, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also considered certain factors identified by management in response to inquiries from the Contract Review Committee regarding the Fund’s total expense ratio relative to comparable funds.

After considering the foregoing information, and in light of the nature, extent and quality of the services provided by each Adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.

Profitability and “Fall-Out” Benefits

The Board considered the level of profits realized by each Adviser and relevant affiliates thereof in providing investment advisory and administrative services to the Fund, to the Portfolio 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 each Adviser and its affiliates to third parties in respect of distribution or other services.

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Board of Trustees’ Contract Approval — continued

The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by each Adviser and its affiliates are deemed not to be excessive.

The Board also considered direct or indirect fall-out benefits received by each Adviser and its affiliates in connection with their respective relationships with the Fund and the Portfolio, including the benefits of research services that may be available to each Adviser as a result of securities transactions effected for the Fund and the Portfolio and other investment advisory clients.

Economies of Scale

In reviewing management fees and profitability, the Board also considered the extent to which the applicable Adviser and its affiliates, on the one hand, and the Fund and the Portfolio, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund and the Portfolio 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 each 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 concluded that the structure of the advisory fees, which include breakpoints at several asset levels will allow the Fund and the Portfolio to continue to benefit from any economies of scale in the future.

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Liquidity Risk Management Program

The Fund has implemented a written liquidity risk management program (Program) and related procedures to manage its liquidity in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (Liquidity Rule). The Liquidity Rule defines “liquidity risk” as the risk that a fund could not meet requests to redeem shares issued by the fund without significant dilution of the remaining investors’ interests in the fund. The Fund’s Board of Trustees/Directors has designated the investment adviser to serve as the administrator of the Program and the related procedures. The administrator has established a Liquidity Risk Management Oversight Committee (Committee) to perform the functions necessary to administer the Program. As part of the Program, the administrator is responsible for identifying illiquid investments and categorizing the relative liquidity of the Fund’s investments in accordance with the Liquidity Rule. Under the Program, the administrator assesses, manages, and periodically reviews the Fund’s liquidity risk, and is responsible for making certain reports to the Fund’s Board of Trustees/Directors and the Securities and Exchange Commission (SEC) regarding the liquidity of the Fund’s investments, and to notify the Board of Trustees/Directors and the SEC of certain liquidity events specified in the Liquidity Rule. The liquidity of the Fund’s portfolio investments is determined based on a number of factors including, but not limited to, relevant market, trading and investment-specific considerations under the Program.

At a meeting of the Fund’s Board of Trustees/Directors on June 7, 2023, the Committee provided a written report to the Fund’s Board of Trustees/
Directors pertaining to the operation, adequacy, and effectiveness of implementation of the Program, as well as the operation of the highly liquid investment minimum (if applicable) for the period January 1, 2022 through December 31, 2022 (Review Period). The Program operated effectively during the Review Period, supporting the administrator’s ability to assess, manage and monitor Fund liquidity risk, including during periods of market volatility and net redemptions. During the Review Period, the Fund met redemption requests on a timely basis.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to the Fund’s prospectus for more information regarding the Fund’s exposure to liquidity risk and other principal risks to which an investment in the Fund may be subject.

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Management and Organization

Fund Management. The Trustees of Eaton Vance Mutual Funds Trust (the Trust) and Senior Debt Portfolio (the Portfolio) are responsible for the overall management and supervision of the Trust's and the Portfolio's affairs. The Board members and officers of the Trust and the Portfolio 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. Board members hold indefinite terms of office. Each Trustee holds office until his or her successor is elected and qualified, subject to a prior death, resignation, retirement, disqualification or removal. Under the terms of the Fund's and the Portfolio's current Trustee retirement policy, an Independent Trustee must retire and resign as a Trustee on the earlier of: (i) the first day of July following his or her 74th birthday; or (ii), with limited exception, December 31st of the 20th year in which he or she has served as a Trustee. However, if such retirement and resignation would cause the Fund and the Portfolio to be out of compliance with Section 16 of the 1940 Act or any other regulations or guidance of the SEC, then such retirement and resignation will not become effective until such time as action has been taken for the Fund and the Portfolio to be in compliance therewith. The “noninterested Trustees” consist of those Trustees who are not “interested persons” of the Trust and the Portfolio, as that term is defined under the 1940 Act. The business address of each Board member and officer is Two International Place, Boston, Massachusetts 02110. As used below, “BMR” refers to Boston Management and Research, “EV” refers to EV LLC, “EVM” refers to Eaton Vance Management, "MSIM" refers to Morgan Stanley Investment Management Inc. and “EVD” refers to Eaton Vance Distributors, Inc. EV is the trustee of each of EVM and BMR. Each of EVM, BMR, EVD and EV are indirect, wholly owned subsidiaries of Morgan Stanley. Each officer affiliated with EVM may hold a position with other EVM affiliates that is comparable to his or her position with EVM listed below. Each Trustee oversees 127 funds in the Eaton Vance fund complex (including both funds and portfolios in a hub and spoke structure).

Name and Year of Birth	Trust/Portfolio Position(s)	Length of Service	Principal Occupation(s) and Other Directorships During Past Five Years and Other Relevant Experience
Interested Trustee
Anchal Pachnanda⁽¹⁾ 1980	Trustee	Since 2023	Co-Head of Strategy of MSIM (since 2019). Formerly, Head of Strategy of MSIM (2017-2019). Ms. Pachnanda is an interested person because of her position with MSIM, which is an affiliate of the Trust. Other Directorships. None.
Noninterested Trustees
Alan C. Bowser 1962	Trustee	Since 2022	Private investor. Formerly, Chief Diversity Officer, Partner and a member of the Operating Committee, and formerly served as Senior Advisor on Diversity and Inclusion for the firm’s chief executive officer, Co-Head of the Americas Region, and Senior Client Advisor of Bridgewater Associates, an asset management firm (2011- 2023). Other Directorships. Independent Director of Stout Risius Ross (a middle market professional services advisory firm) (since 2021).
Mark R. Fetting 1954	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. None.
Cynthia E. Frost 1961	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. None.
George J. Gorman 1952	Chairperson of the Board and Trustee	Since 2021 (Chairperson) and 2014 (Trustee)	Principal at George J. Gorman LLC (consulting firm). Formerly, Senior Partner at Ernst & Young LLP (a registered public accounting firm) (1974-2009). Other Directorships. None.

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Eaton Vance

Floating-Rate Advantage Fund

October 31, 2023

Management and Organization — continued

Name and Year of Birth	Trust/Portfolio Position(s)	Length of Service	Principal Occupation(s) and Other Directorships During Past Five Years and Other Relevant Experience
Noninterested Trustees (continued)
Valerie A. Mosley 1960	Trustee	Since 2014	Chairwoman and Chief Executive Officer of Valmo Ventures (a consulting and investment firm). Founder of Upward Wealth, Inc., dba BrightUp, a fintech platform. Formerly, Partner and Senior Vice President, Portfolio Manager and Investment Strategist at Wellington Management Company, LLP (investment management firm) (1992-2012). Formerly, Chief Investment Officer, PG Corbin Asset Management (1990-1992). Formerly worked in institutional corporate bond sales at Kidder Peabody (1986-1990). Other Directorships. Director of DraftKings, Inc. (digital sports entertainment and gaming company) (since September 2020). Director of Envestnet, Inc. (provider of intelligent systems for wealth management and financial wellness) (since 2018). Formerly, Director of Dynex Capital, Inc. (mortgage REIT) (2013-2020) and Director of Groupon, Inc. (e-commerce provider) (2020-2022).
Keith Quinton 1958	Trustee	Since 2018	Private investor, researcher and lecturer. Formerly, Independent Investment Committee Member at New Hampshire Retirement System (2017-2021). Formerly, Portfolio Manager and Senior Quantitative Analyst at Fidelity Investments (investment management firm) (2001-2014). Other Directorships. Formerly, Director (2016-2021) and Chairman (2019-2021) of New Hampshire Municipal Bond Bank.
Marcus L. Smith 1966	Trustee	Since 2018	Private investor and independent corporate director. Formerly, Chief Investment Officer, Canada (2012-2017), Chief Investment Officer, Asia (2010-2012), Director of Asian Research (2004-2010) and portfolio manager (2001-2017) at MFS Investment Management (investment management firm). Other Directorships. Director of First Industrial Realty Trust, Inc. (an industrial REIT) (since 2021). Director of MSCI Inc. (global provider of investment decision support tools) (since 2017). Formerly, Director of DCT Industrial Trust Inc. (logistics real estate company) (2017-2018).
Susan J. Sutherland 1957	Trustee	Since 2015	Private investor. Director of Ascot Group Limited and certain of its subsidiaries (insurance and reinsurance) (since 2017). Formerly, Director of Hagerty Holding Corp. (insurance) (2015-2018) and Montpelier Re Holdings Ltd. (insurance and reinsurance) (2013-2015). Formerly, Associate, Counsel and Partner at Skadden, Arps, Slate, Meagher & Flom LLP (law firm) (1982-2013). Other Directorships. Formerly, Director of Kairos Acquisition Corp. (insurance/InsurTech acquisition company) (2021-2023).
Scott E. Wennerholm 1959	Trustee	Since 2016	Private investor. Formerly, Trustee at Wheelock College (postsecondary institution) (2012-2018). Formerly, Consultant at GF Parish Group (executive recruiting firm) (2016-2017). Formerly, Chief Operating Officer and Executive Vice President at BNY Mellon Asset Management (investment management firm) (2005-2011). Formerly, Chief Operating Officer and Chief Financial Officer at Natixis Global Asset Management (investment management firm) (1997-2004). Formerly, Vice President at Fidelity Investments Institutional Services (investment management firm) (1994-1997). Other Directorships. None.
Nancy A. Wiser 1967	Trustee	Since 2022	Formerly, Executive Vice President and the Global Head of Operations at Wells Fargo Asset Management (2011-2021). Other Directorships. None.

Name and Year of Birth	Trust/Portfolio Position(s)	Length of Service	Principal Occupation(s) During Past Five Years
Principal Officers who are not Trustees
Kenneth A. Topping 1966	President	Since 2023	Vice President and Chief Administrative Officer of EVM and BMR and Chief Operating Officer for Public Markets at MSIM. Also Vice President of Calvert Research and Management (“CRM”) since 2021. Formerly, Chief Operating Officer for Goldman Sachs Asset Management ‘Classic’ (2009-2020).
Deidre E. Walsh 1971	Vice President and Chief Legal Officer	Since 2009	Vice President of EVM and BMR. Also Vice President of CRM.
James F. Kirchner 1967	Treasurer	Since 2007	Vice President of EVM and BMR. Also Vice President of CRM.

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Eaton Vance Funds

Privacy Notice

April 2021

FACTS

WHAT DOES EATON VANCE DO WITH YOUR
PERSONAL INFORMATION?

Why?	Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.

What?	The types of personal information we collect and share depend on the product or service you have with us. This information can include: ■ Social Security number and income ■ investment experience and risk tolerance ■ checking account number and wire transfer instructions

How?	All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Eaton Vance chooses to share; and whether you can limit this sharing.

Reasons we can share your personal information	Does Eaton Vance share?	Can you limit this sharing?
For our everyday business purposes — such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or report to credit bureaus	Yes	No
For our marketing purposes — to offer our products and services to you	Yes	No
For joint marketing with other financial companies	No	We don’t share
For our investment management affiliates’ everyday business purposes — information about your transactions, experiences, and creditworthiness	Yes	Yes
For our affiliates’ everyday business purposes — information about your transactions and experiences	Yes	No
For our affiliates’ everyday business purposes — information about your creditworthiness	No	We don’t share
For our investment management affiliates to market to you	Yes	Yes
For our affiliates to market to you	No	We don’t share
For nonaffiliates to market to you	No	We don’t share

To limit our sharing	Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice. When you are no longer our customer, we continue to share your information as described in this notice. However, you can contact us at any time to limit our sharing.
Questions?	Call toll-free 1-800-262-1122 or email: EVPrivacy@eatonvance.com

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Eaton Vance Funds

Privacy Notice — continued

April 2021

Page 2

Who we are
Who is providing this notice?	Eaton Vance Management, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Advisers International Ltd., Eaton Vance Global Advisors Limited, Eaton Vance Management’s Real Estate Investment Group, Boston Management and Research, Calvert Research and Management, Eaton Vance and Calvert Fund Families and our investment advisory affiliates (“Eaton Vance”) (see Investment Management Affiliates definition below)
What we do
How does Eaton Vance protect my personal information?	To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We have policies governing the proper handling of customer information by personnel and requiring third parties that provide support to adhere to appropriate security standards with respect to such information.
How does Eaton Vance collect my personal information?	We collect your personal information, for example, when you ■ open an account or make deposits or withdrawals from your account ■ buy securities from us or make a wire transfer ■ give us your contact information We also collect your personal information from others, such as credit bureaus, affiliates, or other companies.
Why can’t I limit all sharing?	Federal law gives you the right to limit only ■ sharing for affiliates’ everyday business purposes — information about your creditworthiness ■ affiliates from using your information to market to you ■ sharing for nonaffiliates to market to you State laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law.
Definitions
Investment Management Affiliates	Eaton Vance Investment Management Affiliates include registered investment advisers, registered broker- dealers, and registered and unregistered funds. Investment Management Affiliates does not include entities associated with Morgan Stanley Wealth Management, such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co.
Affiliates	Companies related by common ownership or control. They can be financial and nonfinancial companies. ■ Our affiliates include companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co.
Nonaffiliates	Companies not related by common ownership or control. They can be financial and nonfinancial companies. ■ Eaton Vance does not share with nonaffiliates so they can market to you.
Joint marketing	A formal agreement between nonaffiliated financial companies that together market financial products or services to you. ■ Eaton Vance doesn’t jointly market.
Other important information
Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with Nonaffiliates unless you provide us with your written consent to share such information. California: Except as permitted by law, we will not share personal information we collect about California residents with Nonaffiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us.

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Eaton Vance Funds

IMPORTANT NOTICES

Delivery of Shareholder Documents. The Securities and Exchange Commission (SEC) permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called “householding” and it helps eliminate duplicate mailings to shareholders. Eaton Vance, or your financial intermediary, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial intermediary, otherwise. If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at 1-800-262-1122, or contact 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 Eaton Vance or your financial intermediary.

Portfolio Holdings. Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) files a schedule of portfolio holdings on Part F to Form N-PORT with the SEC. Certain information filed on Form N-PORT may be viewed on the Eaton Vance website at www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC’s website at www.sec.gov.

Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds’ and Portfolios’ Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, without charge, upon request, by calling 1-800-262-1122 and by accessing the SEC’s website at www.sec.gov.

Tailored Shareholder Reports. Effective January 24, 2023, the SEC adopted rule and form amendments to require open-end mutual funds and ETFs to transmit concise and visually engaging streamlined annual and semiannual reports to shareholders that highlight key information. Other information, including financial statements, will no longer appear in a streamlined shareholder report but must be available online, delivered free of charge upon request, and filed on a semiannual basis on Form N-CSR. The rule and form amendments have a compliance date of July 24, 2024. At this time, management is evaluating the impact of these amendments on the shareholder reports for the Eaton Vance Funds.

The registrant (sometimes referred to as the “Fund”) 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 of Trustees (the “Board”) has designated George J. Gorman and Scott E. Wennerholm, 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. Wennerholm is a private investor. Previously, Mr. Wennerholm served as a Trustee at Wheelock College (postsecondary institution), as a Consultant at GF Parish Group (executive recruiting firm), Chief Operating Officer and Executive Vice President at BNY Mellon Asset Management (investment management firm), Chief Operating Officer and Chief Financial Officer at Natixis Global Asset Management (investment management firm), and Vice President at Fidelity Investments Institutional Services (investment management firm).

The following table presents the aggregate fees billed to the registrant for the registrant’s fiscal years ended October 31, 2022 and October 31, 2023 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 October 31, 2022 and October 31, 2023; 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.

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

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.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred 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; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

The undersigned hereby certify in their capacity as Treasurer and President, respectively, of Senior Debt Portfolio (the “Portfolio”), that:

A signed original of this written statement required by section 906 has been provided to the Portfolio and will be retained by the Portfolio and furnished to the Securities and Exchange Commission or its staff upon request.

	October 31, 2023
Assets
Unaffiliated investments, at value (identified cost $7,830,892,841)	$ 7,329,254,588
Affiliated investments, at value (identified cost $83,572,578)	83,572,578
Cash	26,564,056
Deposits for derivatives collateral — forward foreign currency exchange contracts	1,720,000
Foreign currency, at value (identified cost $27,293,161)	27,317,109
Interest receivable	48,121,291
Dividends receivable from affiliated investments	397,657
Receivable for investments sold	67,432,178
Receivable for open forward foreign currency exchange contracts	9,783,097
Prepaid upfront fees on notes payable	1,307,380
Trustees' deferred compensation plan	273,147
Prepaid expenses	91,621
Total assets	$7,595,834,702
Liabilities
Notes payable	$ 1,525,000,000
Payable for investments purchased	178,250,208
Payable for when-issued securities	5,375,000
Payable for open forward foreign currency exchange contracts	1,834,081
Payable to affiliates:
Investment adviser fee	2,634,200
Trustees' fees	9,042
Trustees' deferred compensation plan	273,147
Accrued expenses	6,993,637
Total liabilities	$1,720,369,315
Net Assets applicable to investors' interest in Portfolio	$5,875,465,387

	Year Ended
	October 31, 2023
Investment Income
Dividend income	$ 4,384,967
Dividend income from affiliated investments	5,747,653
Interest and other income	711,315,184
Total investment income	$ 721,447,804
Expenses
Investment adviser fee	$ 33,952,435
Trustees’ fees and expenses	108,500
Custodian fee	1,308,498
Legal and accounting services	410,206
Interest expense and fees	114,477,456
Miscellaneous	425,800
Total expenses	$ 150,682,895
Deduct:
Waiver and/or reimbursement of expenses by affiliates	$ 187,525
Total expense reductions	$ 187,525
Net expenses	$ 150,495,370
Net investment income	$ 570,952,434
Realized and Unrealized Gain (Loss)
Net realized gain (loss):
Investment transactions	$ (256,805,482)
Foreign currency transactions	2,530,617
Forward foreign currency exchange contracts	(67,585,880)
Net realized loss	$(321,860,745)
Change in unrealized appreciation (depreciation):
Investments	$ 484,673,959
Foreign currency	464,567
Forward foreign currency exchange contracts	11,505,499
Net change in unrealized appreciation (depreciation)	$ 496,644,025
Net realized and unrealized gain	$ 174,783,280
Net increase in net assets from operations	$ 745,735,714

	Year Ended October 31,
	2023	2022
Increase (Decrease) in Net Assets
From operations:
Net investment income	$ 570,952,434	$ 454,111,028
Net realized gain (loss)	(321,860,745)	61,185,798
Net change in unrealized appreciation (depreciation)	496,644,025	(933,652,683)
Net increase (decrease) in net assets from operations	$ 745,735,714	$ (418,355,857)
Capital transactions:
Contributions	$ 365,123,130	$ 2,156,822,498
Withdrawals	(2,604,898,648)	(2,792,514,701)
Net decrease in net assets from capital transactions	$(2,239,775,518)	$ (635,692,203)
Net decrease in net assets	$(1,494,039,804)	$(1,054,048,060)
Net Assets
At beginning of year	$ 7,369,505,191	$ 8,423,553,251
At end of year	$ 5,875,465,387	$ 7,369,505,191

	Year Ended October 31,
	2023	2022	2021	2020	2019
Ratios/Supplemental Data
Ratios (as a percentage of average daily net assets):
Expenses excluding interest and fees	0.56%	0.52%	0.53%	0.56%	0.55%
Interest and fee expense	1.81%	0.47%	0.32%	0.60%	0.88%
Total expenses	2.37% ⁽¹⁾	0.99% ⁽¹⁾	0.85%	1.16%	1.43%
Net investment income	9.01%	5.16%	4.19%	4.86%	5.63%
Portfolio Turnover	18%	27%	28%	30%	17%
Total Return	12.42%	(4.22)%	9.75%	0.39%	2.04%
Net assets, end of year (000’s omitted)	$5,875,465	$7,369,505	$8,423,553	$5,449,434	$7,343,453


Fiscal Years Ended	10/31/22		10/31/23
Audit Fees	$	124,400	$	124,400
Audit-Related Fees⁽¹⁾	$	0	$	0
Tax Fees⁽²⁾	$	0	$	0
All Other Fees⁽³⁾	$	0	$	0

Total	$	124,400	$	124,400


(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.