Eaton Vance
Senior Floating-Rate Trust (EFR)
Semi-Annual Report
April 30, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-21411
Eaton Vance Senior Floating-Rate Trust
(Exact Name of Registrant as Specified in Charter)
One Post Office Square, Boston, Massachusetts 02109
(Address of Principal Executive Offices)
Deidre E. Walsh
One Post Office Square, Boston, Massachusetts 02109
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number)
October 31
Date of Fiscal Year End
April 30, 2026
Date of Reporting Period
Item 1. Reports to Stockholders
(a)
| % Average Annual Total Returns1,2 | Inception Date | Six Months | One Year | Five Years | Ten Years |
| Fund at NAV | 11/28/2003 | (0.13)% | 4.93% | 5.43% | 6.23% |
| Fund at Market Price | — | (3.16) | (3.24) | 3.56 | 5.98 |
|
| |||||
| Morningstar® LSTA® US Leveraged Loan IndexSM | — | 1.73% | 6.22% | 6.09% | 5.53% |
| % Premium/Discount to NAV3 | |
| As of period end | (10.78)% |
| Distributions 4 | |
| Total Distributions per share for the period | $0.45 |
| Distribution Rate at NAV | 6.87% |
| Distribution Rate at Market Price | 7.71 |
| % Total Leverage5 | |
| Auction Preferred Shares (APS) | 14.92% |
| Borrowings | 16.14 |
| Credit Quality (% of net assets plus APS and borrowings)2,3 |
| 1 | Excludes cash and cash equivalents. |
| 2 | Excludes equities, ETFs and short-term investments. |
| 3 | Credit ratings are categorized using S&P Global Ratings (“S&P”). Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of the volatility of a security’s market value or of the liquidity of an investment in the security. Holdings designated as “Not Rated” (if any) are not rated by S&P. |
| Forward Foreign Currency Exchange Contracts (OTC) | |||||||
| Currency Purchased | Currency Sold | Counterparty | Settlement
Date |
Unrealized
Appreciation |
Unrealized
(Depreciation) | ||
| USD | 9,939,657 | EUR | 8,613,275 | Standard Chartered Bank | 5/5/26 | $ — | $ (169,310) |
| USD | 4,007,313 | EUR | 3,380,752 | Deutsche Bank AG | 5/29/26 | 35,022 | — |
| USD | 3,603,601 | EUR | 3,039,262 | State Street Bank and Trust Company | 5/29/26 | 32,552 | — |
| USD | 3,354,118 | EUR | 2,835,172 | State Street Bank and Trust Company | 5/29/26 | 22,868 | — |
| USD | 1,592,764 | GBP | 1,174,704 | State Street Bank and Trust Company | 5/29/26 | — | (5,674) |
| USD | 10,116,951 | EUR | 8,613,274 | Standard Chartered Bank | 6/2/26 | — | (5,315) |
| EUR | 3,400,000 | USD | 3,978,945 | State Street Bank and Trust Company | 6/30/26 | 21,642 | — |
| GBP | 500,000 | USD | 660,940 | State Street Bank and Trust Company | 6/30/26 | 19,350 | — |
| USD | 3,793,249 | EUR | 3,290,709 | Deutsche Bank AG | 6/30/26 | — | (78,742) |
| USD | 5,932,471 | EUR | 5,147,007 | Goldman Sachs International | 6/30/26 | — | (123,720) |
| $131,434 | $(382,761) | ||||||
| Abbreviations: | |
| DIP | – Debtor In Possession |
| EURIBOR | – Euro Interbank Offered Rate |
| OTC | – Over-the-counter |
| PIK | – Payment In Kind |
| SOFR | – Secured Overnight Financing Rate |
| Currency Abbreviations: | |
| EUR | – Euro |
| GBP | – British Pound Sterling |
| USD | – United States Dollar |
| April 30, 2026 | |
| Assets | |
| Unaffiliated investments, at value (identified cost $508,006,195) | $ 492,929,149 |
| Affiliated investments, at value (identified cost $14,583,253) | 14,533,772 |
| Cash | 2,244,463 |
| Deposits for derivatives collateral — forward foreign currency exchange contracts | 120,000 |
| Foreign currency, at value (identified cost $4,151,021) | 4,176,038 |
| Interest receivable | 2,284,776 |
| Dividends receivable from affiliated investments | 49,470 |
| Receivable for investments sold | 13,812,100 |
| Receivable for open forward foreign currency exchange contracts | 131,434 |
| Receivable from affiliates | 1,310 |
| Trustees' deferred compensation plan | 173,187 |
| Prepaid upfront fees on notes payable | 68,789 |
| Prepaid expenses | 4,587 |
| Total assets | $ 530,529,075 |
| Liabilities | |
| Notes payable | $ 82,000,000 |
| Payable for investments purchased | 20,165,932 |
| Payable for open forward foreign currency exchange contracts | 382,761 |
| Payable to affiliates: | |
| Investment adviser fee | 315,205 |
| Trustees' fees | 15,209 |
| Trustees' deferred compensation plan | 173,187 |
| Accrued expenses and other liabilities | 1,217,017 |
| Total liabilities | $ 104,269,311 |
| Auction preferred shares (3,032 shares outstanding) at liquidation value plus cumulative unpaid dividends | $ 75,905,047 |
| Commitments and contingencies (see Note 12) | |
| Net assets applicable to common shares | $ 350,354,717 |
| Sources of Net Assets | |
| Common shares, $0.01 par value, unlimited number of shares authorized | $ 295,236 |
| Additional paid-in capital | 456,139,592 |
| Accumulated loss | (106,080,111) |
| Net assets applicable to common shares | $ 350,354,717 |
| Common Shares Issued and Outstanding | 29,523,618 |
| Net Asset Value Per Common Share | |
| Net assets ÷ common shares issued and outstanding | $ 11.87 |
| Six Months Ended | |
| April 30, 2026 | |
| Investment Income | |
| Dividend income from affiliated investments | $ 221,089 |
| Interest income | 19,343,660 |
| Other income | 57,438 |
| Total investment income | $ 19,622,187 |
| Expenses | |
| Investment adviser fee | $ 1,981,154 |
| Trustees’ fees and expenses | 30,419 |
| Custodian fee | 88,468 |
| Transfer and dividend disbursing agent fees | 9,069 |
| Legal and accounting services | 122,064 |
| Printing and postage | 67,880 |
| Interest expense and fees | 2,534,092 |
| Preferred shares service fee | 37,423 |
| Miscellaneous | 75,437 |
| Total expenses | $ 4,946,006 |
| Deduct: | |
| Waiver and/or reimbursement of expenses by affiliates | $ 10,227 |
| Total expense reductions | $ 10,227 |
| Net expenses | $ 4,935,779 |
| Net investment income | $ 14,686,408 |
| Realized and Unrealized Gain (Loss) | |
| Net realized gain (loss): | |
| Investment transactions | $ (14,122,893) |
| Foreign currency transactions | (222,970) |
| Forward foreign currency exchange contracts | 771,499 |
| Net realized loss | $(13,574,364) |
| Change in unrealized appreciation (depreciation): | |
| Investments | $ (79,370) |
| Investments - affiliated investments | (49,481) |
| Foreign currency | 146,338 |
| Forward foreign currency exchange contracts | (889,552) |
| Net change in unrealized appreciation (depreciation) | $ (872,065) |
| Net realized and unrealized loss | $(14,446,429) |
| Distributions to preferred shareholders | $ (2,269,299) |
| Net decrease in net assets from operations | $ (2,029,320) |
| Six
Months Ended April 30, 2026 (Unaudited) |
Year
Ended October 31, 2025 | |
| Increase (Decrease) in Net Assets | ||
| From operations: | ||
| Net investment income | $ 14,686,408 | $ 36,185,002 |
| Net realized loss | (13,574,364) | (7,815,001) |
| Net change in unrealized appreciation (depreciation) | (872,065) | (5,786,711) |
| Distributions to preferred shareholders | (2,269,299) | (5,363,966) |
| Net increase (decrease) in net assets from operations | $ (2,029,320) | $ 17,219,324 |
| Distributions to common shareholders | $ (13,403,723)* | $ (31,701,021) |
| Tax return of capital to common shareholders | $ — | $ (779,128) |
| Capital share transactions: | ||
| Proceeds from shelf offering, net of offering costs (see Note 6) | $ — | $ 2,099,587 |
| Reinvestment of distributions to common shareholders | — | 318,207 |
| Net increase in net assets from capital share transactions | $ — | $ 2,417,794 |
| Net decrease in net assets | $ (15,433,043) | $ (12,843,031) |
| Net Assets Applicable to Common Shares | ||
| At beginning of period | $ 365,787,760 | $ 378,630,791 |
| At end of period | $350,354,717 | $365,787,760 |
| * | A portion of the distributions may be deemed a tax return of capital at year-end. See Note 3. |
| Six Months Ended | |
| April 30, 2026 | |
| Cash Flows From Operating Activities | |
| Net decrease in net assets from operations | $ (2,029,320) |
| Distributions to preferred shareholders | 2,269,299 |
| Net increase in net assets from operations excluding distributions to preferred shareholders | $ 239,979 |
| Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities: | |
| Investments purchased | (86,283,459) |
| Investments sold and principal repayments | 115,963,460 |
| Increase in short-term investments, net | (2,953,665) |
| Net amortization/accretion of premium (discount) | (1,016,032) |
| Amortization of prepaid upfront fees on notes payable | 41,328 |
| Decrease in interest receivable | 405,195 |
| Increase in dividends receivable from affiliated investments | (24,898) |
| Decrease in Trustees’ deferred compensation plan | 7,566 |
| Increase in prepaid expenses | (1,222) |
| Increase in receivable from affiliates | (1,310) |
| Decrease in payable to affiliates for investment adviser fee | (34,263) |
| Increase in payable to affiliates for Trustees' fees | 15,209 |
| Decrease in payable to affiliates for Trustees' deferred compensation plan | (7,566) |
| Increase in accrued expenses and other liabilities | 571,580 |
| Decrease in unfunded loan commitments | (114,299) |
| Net change in unrealized (appreciation) depreciation from investments | 128,851 |
| Net change in unrealized (appreciation) depreciation from forward foreign currency exchange contracts | 889,552 |
| Net realized loss from investments | 14,122,893 |
| Net cash provided by operating activities | $ 41,948,899 |
| Cash Flows From Financing Activities | |
| Cash distributions paid to common shareholders | $ (13,403,723) |
| Cash distributions paid to preferred shareholders | (2,290,741) |
| Repayments of notes payable | (28,000,000) |
| Payment of prepaid upfront fees on notes payable | (80,000) |
| Net cash used in financing activities | $ (43,774,464) |
| Net decrease in cash and restricted cash* | $ (1,825,565) |
| Cash at beginning of period (including foreign currency) | $ 8,366,066 |
| Cash and restricted cash at end of period (including foreign currency) | $ 6,540,501 |
| Supplemental disclosure of cash flow information: | |
| Cash paid for interest and fees on borrowings | $ 2,417,531 |
| * | Includes net change in unrealized (appreciation) depreciation on foreign currency of $(93,859). |
| April 30, 2026 | |
| Cash | $ 2,244,463 |
| Deposits for derivatives collateral — forward foreign currency exchange contracts | 120,000 |
| Foreign currency | 4,176,038 |
| Total cash and restricted cash as shown on the Statement of Cash Flows | $6,540,501 |
| Six
Months Ended April 30, 2026 (Unaudited) |
Year Ended October 31, | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Net asset value — Beginning of period (Common shares) | $ 12.39 | $ 12.91 | $ 12.77 | $ 12.28 | $ 14.30 | $ 13.50 |
| Income (Loss) From Operations | ||||||
| Net investment income(1) | $ 0.50 | $ 1.23 | $ 1.50 | $ 1.45 | $ 0.92 | $ 0.72 |
| Net realized and unrealized gain (loss) | (0.49) | (0.47) | 0.27 | 0.44 | (1.93) | 0.91 |
| Distributions
to preferred shareholders: From net investment income(1) |
(0.08) | (0.18) | (0.22) | (0.20) | (0.05) | — |
| Total income (loss) from operations | $ (0.07) | $ 0.58 | $ 1.55 | $ 1.69 | $ (1.06) | $ 1.63 |
| Less Distributions to Common Shareholders | ||||||
| From net investment income | $ (0.45)* | $ (1.07) | $ (1.38) | $ (1.20) | $ (0.88) | $ (0.81) |
| Tax return of capital | — | (0.03) | (0.03) | — | (0.10) | (0.05) |
| Total distributions to common shareholders | $ (0.45) | $ (1.10) | $ (1.41) | $ (1.20) | $ (0.98) | $ (0.86) |
| Premium from common shares sold through shelf offering (see Note 6)(1) | $ — | $ 0.00(2) | $ 0.00(2) | $ — | $ 0.02 | $ 0.00(2) |
| Discount on tender offer (see Note 6)(1) | $ — | $ — | $ — | $ — | $ — | $ 0.03 |
| Net asset value — End of period (Common shares) | $11.87 | $12.39 | $12.91 | $12.77 | $ 12.28 | $14.30 |
| Market value — End of period (Common shares) | $10.59 | $11.40 | $12.77 | $11.64 | $ 11.17 | $14.90 |
| Total Investment Return on Net Asset Value(3) | (0.13)% (4) | 5.06% | 12.62% | 15.09% | (7.26)% | 12.69% |
| Total Investment Return on Market Value(3) | (3.16)% (4) | (2.27)% | 22.31% | 15.34% | (19.10)% | 33.21% |
| Six
Months Ended April 30, 2026 (Unaudited) |
Year Ended October 31, | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Ratios/Supplemental Data | ||||||
| Net assets applicable to common shares, end of period (000’s omitted) | $350,355 | $365,788 | $378,631 | $372,481 | $358,405 | $403,589 |
| Ratios (as a percentage of average daily net assets applicable to common shares):(5)(6)† | ||||||
| Expenses excluding interest and fees | 1.36% (7) | 1.36% | 1.29% | 1.34% | 1.37% | 1.33% |
| Interest and fee expense(8) | 1.43% (7) | 1.90% | 2.10% | 1.95% | 0.81% | 0.46% |
| Total expenses | 2.79% (7) | 3.26% | 3.39% | 3.29% | 2.18% | 1.79% |
| Net expenses | 2.79% (7)(9) | 3.26% (9) | 3.39% (9) | 3.29% (9) | 2.18% (9) | 1.79% |
| Net investment income | 8.29% (7) | 9.73% | 11.59% | 11.37% | 6.83% | 5.05% |
| Portfolio Turnover | 17% (4) | 30% | 28% | 24% | 12% | 66% |
| Senior Securities: | ||||||
| Total notes payable outstanding (in 000’s) | $ 82,000 | $110,000 | $133,000 | $110,000 | $133,000 | $120,000 |
| Asset coverage per $1,000 of notes payable(10) | $ 6,198 | $ 5,016 | $ 4,418 | $ 5,076 | $ 4,265 | $ 4,995 |
| Total preferred shares outstanding | 3,032 | 3,032 | 3,032 | 3,032 | 3,032 | 3,032 |
| Asset coverage per preferred share(11) | $ 80,523 | $ 74,235 | $ 70,350 | $ 75,134 | $ 67,924 | $ 76,531 |
| Involuntary liquidation preference per preferred share(12) | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 |
| Approximate market value per preferred share(12) | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 | $ 25,000 |
| (1) | Computed using average shares outstanding. |
| (2) | Amount is less than $0.005. |
| (3) | Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Trust’s dividend reinvestment plan. |
| (4) | Not annualized. |
| (5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Trust. |
| (6) | Ratios do not reflect the effect of dividend payments to preferred shareholders. |
| (7) | Annualized. |
| (8) | Interest and fee expense relates to the notes payable incurred to partially redeem the Trust’s APS (see Note 8). |
| (9) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Trust’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended April 30, 2026 and the years ended October 31, 2025, 2024, 2023 and 2022). |
| (10) | Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands. |
| (11) | Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, dividing the result by the sum of the values of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 322%, 297%, 281%, 301%, 272% and 306% at April 30, 2026 and October 31, 2025, 2024, 2023, 2022 and 2021, respectively. |
| (12) | Plus accumulated and unpaid dividends. |
| * | A portion of the distributions may be deemed a tax return of capital at year-end. See Note 3. |
| † | Ratios based on net assets applicable to common shares plus preferred shares and borrowings are presented below. Ratios do not reflect the effect of dividend payments to preferred shareholders. Ratios for periods less than one year are annualized. |
| Six
Months Ended April 30, 2026 (Unaudited) |
Year Ended October 31, | |||||
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
| Expenses excluding interest and fees | 0.91% | 0.89% | 0.86% | 0.89% | 0.88% | 0.87% |
| Interest and fee expense | 0.96% | 1.23% | 1.39% | 1.28% | 0.52% | 0.31% |
| Total expenses | 1.87% | 2.12% | 2.25% | 2.17% | 1.40% | 1.18% |
| Net investment income | 5.56% | 6.33% | 7.66% | 7.47% | 4.39% | 3.34% |
| APS
Issued and Outstanding | |
| Series A | 739 |
| Series B | 763 |
| Series C | 738 |
| Series D | 792 |
| APS
Dividend Rates at April 30, 2026 |
Dividends
Accrued to APS Shareholders |
Average
APS Dividend Rates |
Dividend
Rate Ranges (%) | |
| Series A | 5.89% | $551,952 | 5.94% | 5.78-6.41 |
| Series B | 5.89 | 570,243 | 5.95 | 5.78-6.41 |
| Series C | 5.89 | 553,919 | 5.97 | 5.78-6.55 |
| Series D | 5.88 | 593,185 | 5.96 | 5.81-6.50 |
| Aggregate cost | $ 523,457,641 |
| Gross unrealized appreciation | $ 4,411,595 |
| Gross unrealized depreciation | (20,657,642) |
| Net unrealized depreciation | $ (16,246,047) |
| Fair Value | ||
| Derivative | Asset Derivative(1) | Liability Derivative(2) |
| Forward foreign currency exchange contracts | $ 131,434 | $ (382,761) |
| Total Derivatives subject to master netting or similar agreements | $131,434 | $(382,761) |
| (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. |
| 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) |
| Deutsche Bank AG | $ 35,022 | $ (35,022) | $ — | $ — | $ — |
| State Street Bank and Trust Company | 96,412 | (5,674) | — | — | 90,738 |
| $131,434 | $(40,696) | $ — | $ — | $90,738 |
| Counterparty | Derivative
Liabilities Subject to Master Netting Agreement |
Derivatives
Available for Offset |
Non-cash
Collateral Pledged(a) |
Cash
Collateral Pledged(a) |
Net
Amount of Derivative Liabilities(c) |
| Deutsche Bank AG | $ (78,742) | $ 35,022 | $ — | $ — | $ (43,720) |
| Goldman Sachs International | (123,720) | — | — | 120,000 | (3,720) |
| Standard Chartered Bank | (174,625) | — | — | — | (174,625) |
| State Street Bank and Trust Company | (5,674) | 5,674 | — | — | — |
| $(382,761) | $40,696 | $ — | $120,000 | $(222,065) |
| (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. |
| 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 | $771,499 | $(889,552) |
| (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. |
| 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 |
| Exchange-Traded Funds | ||||||||
| Eaton Vance Floating-Rate ETF | $ — | $ 2,705,319 | $ — | $ — | $ (49,481) | $ 2,655,838 | $ 58,659 | 54,675 |
| Short-Term Investments | ||||||||
| Liquidity Fund | 8,924,269 | 87,939,646 | (84,985,981) | — | — | 11,877,934 | 162,430 | 11,877,934 |
| Total | $ — | $(49,481) | $14,533,772 | $221,089 |
| • | 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) |
| Asset Description | Level 1 | Level 2 | Level 3* | Total |
| Asset-Backed Securities | $ — | $ 32,074,593 | $ — | $ 32,074,593 |
| Common Stocks | 20,458 | 4,400,202 | 660,273 | 5,080,933 |
| Corporate Bonds | — | 18,013,319 | — | 18,013,319 |
| Exchange-Traded Funds | 2,655,838 | — | — | 2,655,838 |
| Preferred Stocks | — | 290,274 | 585,456 | 875,730 |
| Senior Floating-Rate Loans (Less Unfunded Loan Commitments) | — | 435,649,168 | 1,235,406 | 436,884,574 |
| Warrants | — | — | 0 | 0 |
| Short-Term Investments | 11,877,934 | — | — | 11,877,934 |
| Total Investments | $ 14,554,230 | $ 490,427,556 | $ 2,481,135 | $ 507,462,921 |
| Forward Foreign Currency Exchange Contracts | $ — | $ 131,434 | $ — | $ 131,434 |
| Total | $ 14,554,230 | $ 490,558,990 | $ 2,481,135 | $ 507,594,355 |
| Liability Description | ||||
| Forward Foreign Currency Exchange Contracts | $ — | $ (382,761) | $ — | $ (382,761) |
| Total | $ — | $ (382,761) | $ — | $ (382,761) |
| * | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Trust. |
| Officers | |
| Kenneth
A. Topping President |
Nicholas
S. Di Lorenzo Secretary |
| Deidre
E. Walsh Vice President and Chief Legal Officer |
Laura T.
Donovan Chief Compliance Officer |
| James
F. Kirchner Treasurer |
|
| Trustees |
| U.S. Customer Privacy Notice | March 2026 |
| FACTS | WHAT DOES MORGAN STANLEY INVESTMENT MANAGEMENT, INC. (“MSIM”) 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 information 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 MSIM chooses to share; and whether you can limit this sharing. |
| Reasons we can share your personal information | Does
MSIM 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 affiliates’ everyday business purposes — information about your transactions and experiences | Yes | No* |
| For our affiliates’ everyday business purposes — information about your creditworthiness | Yes | Yes* |
| For our affiliates to market to you | Yes | Yes* |
| For non-affiliates to market to you | No | We don’t share |
| To
limit our sharing |
To limit sharing, call toll-free: (844) 312-6327 or email: msimprivacy@morganstanley.com. Please include your name, address, and first three digits (and only the first three digits) of your account number in the email. If we serve you through an investment professional, please contact them directly. Specific Internet addresses, mailing addresses, and telephone numbers are listed on your statements and other correspondence.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.*MSIM does not share your creditworthiness information or your transactions and experiences information with the Morgan Stanley Affiliates, nor does MSIM enable the Morgan Stanley Affiliates to market to you. Your opt outs will prevent MSIM from sharing your creditworthiness information with the Investment Management Affiliates and will prevent the Investment Management Affiliates from marketing their products to you. |
| Questions? | Call toll-free: (844) 312-6327 or email: msimprivacy@morganstanley.com |
| U.S. Customer Privacy Notice — continued | March 2026 |
| Who we are | |
| Who is providing this notice? | Morgan Stanley Investment Management Inc. and its investment management affiliates (“MSIM”) (See Affiliates definition below.) |
| What we Do | |
| How
does MSIM 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 MSIM 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 informationWe 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 non-affiliates to market to youState laws and individual companies may give you additional rights to limit sharing. See below for more on your rights under state law. |
| What
happens when I limit sharing for an account I hold jointly with someone else? |
Your choices will apply to everyone on your account. |
| Definitions | |
| Affiliates | Companies related by common ownership or control. They can be financial and non-financial companies.■ Our affiliates include registered investment advisers such as Eaton Vance Management, Eaton Vance Advisers International Ltd., Boston Management and Research, Calvert Research and Management, Atlanta Capital Management Company, LLC, Parametric Portfolio Associates LLC, Morgan Stanley Investment Management Co., Morgan Stanley Investment Management Ltd; registered broker-dealers such as Morgan Stanley Distribution, Inc. and Eaton Vance Distributors, Inc. (collectively, the “Investment Management Affiliates”); and registered and unregistered funds sponsored by Morgan Stanley Investment Management such as the registered funds within Morgan Stanley Institutional Fund, Inc. (together, the “Investment Management Affiliates”); and companies with a Morgan Stanley name and financial companies such as Morgan Stanley Smith Barney LLC and Morgan Stanley & Co. (the “Morgan Stanley Affiliates”). |
| Non-affiliates | Companies not related by common ownership or control. They can be financial and non-financial companies.■ MSIM does not share with non-affiliates so they can market to you. |
| Joint marketing | A
formal agreement between non-affiliated financial companies that together market financial products or services to you.■ MSIM does not jointly market. |
| U.S. Customer Privacy Notice — continued | March 2026 |
| Other important information | |
| Vermont: Except as permitted by law, we will not share personal information we collect about Vermont residents with non-affiliates 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 non-affiliates and we will limit sharing such personal information with our Affiliates to comply with California privacy laws that apply to us. |
(b) Not applicable.
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not required in this filing.
Item 6. Schedule of Investments
| (a) | Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR. |
| (b) | Not applicable. |
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies
Not applicable.
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
Not applicable.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract
Not applicable.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not required in this filing.
Item 13. Portfolio Managers of Closed-End Management Investment Companies
Not required in this filing.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
No such purchases this period.
Item 15. Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominee to the Trust’s Board of Trustees since the Trust last provided disclosure in response to this item.
Item 16. Controls and Procedures
| (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 control 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 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
No activity to report for the registrant’s most recent fiscal year end.
Item 18. Recovery of Erroneously Awarded Compensation
Not applicable.
Item 19. Exhibits
| (a)(1) |
Registrant’s Code of Ethics – Not applicable (please see Item 2). | |
| (a)(2)(i) |
Principal Financial Officer’s Section 302 certification. | |
| (a)(2)(ii) |
Principal Executive Officer’s Section 302 certification. | |
| (b) |
Combined Section 906 certification. | |
Signatures
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.
| Eaton Vance Senior Floating-Rate Trust | ||
| By: | /s/ Kenneth A. Topping | |
| Kenneth A. Topping | ||
| Principal Executive Officer | ||
| Date: | June 24, 2026 | |
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.
| By: | /s/ James F. Kirchner | |
| James F. Kirchner | ||
| Principal Financial Officer | ||
| Date: | June 24, 2026 | |
| By: | /s/ Kenneth A. Topping | |
| Kenneth A. Topping | ||
| Principal Executive Officer | ||
| Date: | June 24, 2026 | |
