[SCHEDULE 13D] Eaton Vance Short Duration Diversified Income Fund SEC Filing

Rhea-AI Filing Summary

Sit Investment Associates and Sit Fixed Income Advisors filed a Schedule 13D reporting a stake in Eaton Vance Short Duration Diversified Income Fund (EVG). They beneficially own 857,119 shares, representing 6.4% of the fund’s outstanding common stock.

The percentage is based on 13,452,867 shares outstanding as of April 30, 2025. The Sit entities report shared voting and dispositive power over 857,119 shares and no sole voting or dispositive power. The position is held in client accounts; no single client holds more than 5% of outstanding shares, and the firms’ directors or executive officers do not own shares directly.

The stake was acquired in open market purchases for investment purposes. The Sit entities may continue to buy, hold, vote, trade, or sell shares and may discuss performance, distributions, capitalization, investment strategy, and portfolio with management and the board. They also indicate they may make shareholder proposals or nominate directors.

Insights

Closed-end fund governance analyst

13D shows a 6.4% EVG stake with possible engagement, no actions committed.

Sit Investment Associates and affiliate disclosed 857,119 shares of EVG, equal to 6.4% based on 13,452,867 shares outstanding as of April 30, 2025. They have shared voting and dispositive power, reflecting advisory control across client accounts rather than proprietary ownership.

The filing states investment intent but allows for engagement with management and the board, including potential shareholder proposals or director nominations. That language is typical for a 13D and signals optionality rather than a declared campaign.

Market impact, if any, depends on future steps by the holders. Subsequent disclosures may detail proposals or changes in position size.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Eaton Vance Short Duration Diversified Income Fund

(Name of Issuer)

Common Stock

(Title of Class of Securities)

27828V104

(CUSIP Number)

Paul E. Rasmussen
80 South Eighth Street, Suite 3300
Minneapolis, MN, 55402-4130
612-332-3223

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/20/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 27828V104

1

Name of reporting person

Sit Investment Associates, Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MINNESOTA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 857,119.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 857,119.00

11

Aggregate amount beneficially owned by each reporting person

857,119.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 27828V104

1

Name of reporting person

Sit Fixed Income Advisors II, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 857,119.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 857,119.00

11

Aggregate amount beneficially owned by each reporting person

857,119.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.4 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock
(b)	Name of Issuer: Eaton Vance Short Duration Diversified Income Fund
(c)	Address of Issuer's Principal Executive Offices: One Post Office Square,, Boston, MASSACHUSETTS , 02109.
Item 2.	Identity and Background
(a)	This statement is filed by: Sit Investment Associates, Inc., a Minnesota corporation (SIA), and Sit Fixed Income Advisors II, LLC, a Delaware limited liability company (SFI). Both SIA and SFI are parties to a Joint Filing Agreement as further described in Exhibit B.
(b)	The business address of each of the Sit Entities is 80 South Eighth Street, Suite 3300. Minneapolis, MN 55402
(c)	SIA is a registered investment adviser. SFI is a registered investment adviser and subsidiary of SIA. SIA or SFI serves as investment adviser on behalf of its clients. SIA and SFI have entered into investment management agreements with each of its clients pursuant to which SIA or SFI has full discretionary authority to direct the investments of its client in accordance with the investment objectives and restrictions of the client. The investment management agreements also provide that SIA or SFI has assumed the responsibility to vote on behalf of its clients all shares held by its clients in accounts managed by SIA or SFI. Roger J. Sit is chairman and CEO of SIA and SFI. Ronald D. Sit is a director of SIA. By virtue of these positions, each of SIA, SFI, Roger J. Sit and Ronald D. Sit, may be deemed to beneficially own the Shares held in SIA and SFI client accounts. SIA, SFI, Roger J. Sit, and Ronald D. Sit together are the "Sit Entities."
(d)	During the last five years, neither Roger J. Sit nor Ronald D. Sit have been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	During the last five years, none of the Sit Entities have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	Roger J. Sit and Ronald D. Sit are United States citizens.
Item 3.	Source and Amount of Funds or Other Consideration
	The Sit Entities acquired the Issuer's Shares in open market transactions with client funds held in custody accounts managed by SIA and SFI.
Item 4.	Purpose of Transaction
	The Sit Entities have acquired the Issuer's Shares for investment purposes, and such purchases have been made in the ordinary course of business. The Issuer's Shares have been acquired on behalf of SIA's and SFI's clients. In pursuing such investment purposes, the Sit Entities purchased the Shares based on the Sit Entities' belief that the Shares represented an attractive investment opportunity, and the Sit Entities may further purchase, hold, vote, trade, sell or otherwise deal in the Shares at the time, and in such manner, as they deem advisable to benefit from, among many things, changes in market prices of such Shares, the market prices of such Shares relative to the value of the Issuer's assets, changes in the Issuer's investment strategy, and composition of the Issuer's portfolio. None of Sit Entities have any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon or in connection with completion of, or following, any of the actions discussed herein. The Sit Entities intend to review their investment in the Issuer's Shares on a continuing basis and may also propose or take one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D, including engaging in discussions with management, the Board of Directors and shareholders concerning, among other things, the Issuer's performance, the market prices of the Issuer's Shares relative to the value of the Issuer's assets, the Issuer's distribution rate, the Issuer's capitalization, the Issuer's investment strategy and the Issuer's portfolio holdings. The Sit Entities may make binding and non-binding shareholder proposals, or may nominate one or more individuals as nominees for election to the Board.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 13,452,867 Shares outstanding as of April 30, 2025, which is the total number of Shares outstanding as reported in the Issuer's Form N-CSRS.
(b)	As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 857,119 Shares held in client accounts which represent 6.4% of the Issuer's outstanding Shares. Each of the Sit Entities may be deemed to have shared power to vote and dispose of such Shares. However, none of SIA's or SFI's client accounts own more than 5% of the shares outstanding, and none of SIA's or SFI's directors or executive officers own shares directly.
(c)	Transactions in Shares effected during the past 60 days by the Sit Entities are set forth in Exhibit A.
(d)	The clients of SIA and SFI have the right to participate in the receipt of dividends from, or proceeds from the sales of, the Shares held for their respective accounts.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Exhibit A: Schedule of Transactions in Shares by Sit Entities during the past 60 days Exhibit B: Joint Filing Agreement

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Sit Investment Associates, Inc.

Signature:	/s/ Roger J. Sit
Name/Title:	Roger J. Sit, Chairman & CEO
Date:	10/20/2025

Sit Fixed Income Advisors II, LLC

Signature:	/s/ Roger J. Sit
Name/Title:	Roger J. Sit, Chairman & CEO
Date:	10/20/2025

FAQ

What stake did Sit disclose in EVG on Schedule 13D?

They reported beneficial ownership of 857,119 shares, or 6.4% of EVG’s outstanding common stock.

What share count was used to calculate Sit’s percentage ownership in EVG?

The calculation used 13,452,867 shares outstanding as of April 30, 2025.

Do the Sit entities have sole or shared voting power over EVG shares?

They report shared voting and dispositive power over 857,119 shares and no sole power.

Why did Sit acquire EVG shares?

For investment purposes in the ordinary course via open market transactions for client accounts.

Could Sit engage with EVG’s management or board?

Yes. They may discuss performance, distributions, strategy, and may make shareholder proposals or nominate directors.

Did any single Sit client exceed 5% ownership of EVG?

No. The filing states no single client account owns more than 5% of outstanding shares.

Who signed the Schedule 13D for the Sit entities?

It was signed by Roger J. Sit, Chairman & CEO, on October 20, 2025.