Sit Investment Associates files 13D, holds 5.6% of EVV

Rhea-AI Filing Summary

Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC filed a Schedule 13D on Eaton Vance Limited Duration Income Fund (EVV), disclosing beneficial ownership of 6,451,703 shares, or 5.6% of the fund’s common stock.

The Sit entities report shared voting and dispositive power over these shares and no sole power. Shares were acquired in open-market transactions using client funds under discretionary investment management agreements. The stake is held for investment purposes, and the firms may purchase, hold, vote, trade, sell, or otherwise deal in the shares as they deem advisable.

They state they may engage with management, the board, and other shareholders on performance, share price relative to asset value, distribution rate, capitalization, strategy, and portfolio; they may also make shareholder proposals or nominate directors. EVV had 116,203,460 shares outstanding as of March 31, 2025. The date of event is October 20, 2025.

Insights

Closed-end fund governance analyst

13D discloses a 5.6% stake with potential engagement.

Sit Investment Associates and an affiliate report 5.6% beneficial ownership (6,451,703 shares) of EVV, with shared voting and dispositive power. The shares were acquired for clients via open-market purchases under discretionary mandates.

Filing as 13D signals flexibility to engage. The firms state they may discuss performance, distribution policy, capitalization, strategy, and portfolio, and may submit proposals or nominate directors. Actual actions depend on future decisions by the reporting persons.

Context shows 116,203,460 shares outstanding as of March 31, 2025. Any impact on EVV will hinge on whether proposals or nominations are pursued; the filing does not specify timing or particular actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

Eaton Vance Limited Duration Income Fund

(Name of Issuer)

Common Stock

(Title of Class of Securities)

27828H105

(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. 27828H105

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 6,451,703.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,451,703.00

11

Aggregate amount beneficially owned by each reporting person

6,451,703.00

12

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

13

Percent of class represented by amount in Row (11)

5.6 %

14

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13D

CUSIP No. 27828H105

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 6,451,703.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 6,451,703.00

11

Aggregate amount beneficially owned by each reporting person

6,451,703.00

12

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

13

Percent of class represented by amount in Row (11)

5.6 %

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 Limited Duration 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.
(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 116,203,460 Shares outstanding as of March 31, 2025, which is the total number of Shares outstanding as reported in the Issuer's Form N-CSR.
(b)	As of the date hereof, the Sit Entities may be deemed to be the beneficial owner of 6,451,703 Shares held in client accounts which represent 5.6% 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 did EVV disclose in this Schedule 13D filing?

Two advisers—Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC—reported beneficial ownership of 6,451,703 EVV shares (5.6%).

How much of EVV does Sit own and what powers do they have?

They report 5.6% beneficial ownership with shared voting and shared dispositive power over 6,451,703 shares.

Why did Sit acquire EVV shares?

For investment purposes in client accounts via open-market purchases under discretionary management agreements.

Could Sit engage with EVV’s management or board?

Yes. They may discuss performance, distribution rate, capitalization, strategy, holdings, and may make shareholder proposals or nominate directors.

What is EVV’s share count context?

EVV had 116,203,460 shares outstanding as of March 31, 2025.

Does any single Sit client own over 5% of EVV?

No. The filing states no individual client account exceeds 5% of shares outstanding.

What is the event date for the 13D?

The date of event is October 20, 2025.