[SCHEDULE 13D/A] Eaton Vance California Municipal Bond Fund SEC Filing

Rhea-AI Filing Summary

Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC report shared beneficial ownership of 4,069,395 shares of Eaton Vance California Municipal Bond Fund common stock, which equals 16.5% of the 24,672,939 shares outstanding reported for the period ended March 31, 2025. The shares are held in client accounts and the reporting entities state they have shared voting and shared dispositive power over those shares; neither entity reports any sole voting or dispositive power and no directors or executive officers of SIA or SFI own shares directly. Transactions in the last 60 days are noted as filed in an exhibit.

Positive

• Material stake disclosed: 4,069,395 shares representing 16.5% of outstanding shares
• Transparency: Reporting of shared voting and dispositive powers and reference to recent transactions in an exhibit

Negative

• No sole voting or dispositive power: Reporting persons do not have unilateral control over the shares

Insights

Financial Analyst

TL;DR: A 16.5% stake is material and could influence shareholder outcomes despite shared, not sole, control.

The filing discloses a material passive position: 4,069,395 shares representing 16.5% of the fund. For investors, a stake of this size merits attention because it represents a substantial ownership block that could affect voting outcomes on governance matters or distribution policies if the holders coordinate with other shareholders. However, the reporting parties describe only shared voting and dispositive power and do not claim direct control. The shares are held in client accounts, indicating these are fiduciary-held positions rather than direct principal investments by the reporting firms.

Corporate Governance Expert

TL;DR: Material influence is possible, but lack of sole voting power limits unilateral action.

The disclosure shows meaningful economic exposure to the fund but stops short of asserting control. From a governance viewpoint, a 16.5% block can be influential during contested votes or changes to fund policies, especially if coordinated with other holders. Important governance signals include that the stake is managed in client accounts and that none of the reporting firms' directors or officers report direct ownership, which suggests portfolio management rather than an activist posture. Absent additional agreements or a defined group, the filing reflects significant but not controlling influence.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 9)

Eaton Vance California Municipal Bond Fund

(Name of Issuer)

Common Stock

(Title of Class of Securities)

27828A100

(CUSIP Number)

Paul E. Rasmussen
3300 IDS Center, 80 South Eighth Street
Minneapolis, MN, 55402-4130
612-359-2536

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

09/11/2025

(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. 27828A100

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 4,069,395.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,069,395.00

11

Aggregate amount beneficially owned by each reporting person

4,069,395.00

12

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

13

Percent of class represented by amount in Row (11)

16.5 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 27828A100

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 4,069,395.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,069,395.00

11

Aggregate amount beneficially owned by each reporting person

4,069,395.00

12

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

13

Percent of class represented by amount in Row (11)

16.5 %

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 California Municipal Bond Fund
(c)	Address of Issuer's Principal Executive Offices: ONE POST OFFICE SQUARE, BOSTON, MASSACHUSETTS , 02109.
Item 1 Comment: This Amendment No. 9 ("Amendment") amends and supplements the statement on Schedule 13D filed on October 6, 2023, and amended by Amendment No. 1 on November 7, 2023; Amendment No. 2 on December 1, 2023; Amendment No. 3 on December 28, 2023; Amendment No. 4 on January 24, 2024; Amendment No. 5 on April 9, 2024, Amendment No. 6 on December 30, 2024, Amendment No. 7 on April 7, 2025; and Amendment No. 8 on June 13, 2025 (collectively, the "Original Schedule 13D" and, as amended by this Amendment, the "Schedule 13D"), relating to the shares of Common Stock ("Shares") of the Eaton Vance California Municipal Bond Fund (the "Issuer"). Except as specifically provided herein, each Item of the Original Schedule 13D remains unchanged. Capitalized terms used but not otherwise defined herein have the meanings set forth in the Original Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate percentage of Shares reported owned by Sit Entities herein is based upon 24,672,939 Shares outstanding as of Date, which is the total number of Shares outstanding as reported in the Issuer's Report on Form N-CSRS filed with the Securities Exchange Commission for the period ended March 31, 2025. As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 4,069,395 Shares held in client accounts which represent 16.5% of the Issuer's outstanding Shares.
(b)	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 directors or executive officers own Shares directly
(c)	Transactions in Shares by the Sit Entities in the last 60 days 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 7.	Material to be Filed as Exhibits.
	Exhibit A: Schedule of Transactions in Shares by Sit Entities in the last 60 days.

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, Sit Investment Associates, Inc. Chairman & CEO
Date:	09/15/2025

Sit Fixed Income Advisors II, LLC

Signature:	/s/ Roger J. Sit
Name/Title:	Roger J. Sit, Sit Fixed Income Advisors II, LLC Chairman & CEO
Date:	09/15/2025

FAQ

How many Eaton Vance California Municipal Bond Fund (EVM) shares do the Sit entities report owning?

The Sit entities report beneficial ownership of 4,069,395 shares of EVM common stock.

What percentage of EVM does that stake represent?

The reported stake represents 16.5% of EVM's 24,672,939 shares outstanding (per the period ended March 31, 2025).

Do the reporting entities have control over the shares?

The filing states the Sit entities have shared voting and shared dispositive power and report no sole voting or dispositive power.

Are the shares owned directly by the firms or by clients?

The shares are held in client accounts, and clients have rights to dividends and sale proceeds; no directors or executive officers of SIA or SFI own shares directly.

Are recent transactions listed in the filing?

The filing references Exhibit A for transactions in the last 60 days, but the exhibit details are not contained in the provided content.