N-Q 1 b73606a1nvq.htm EATON VANCE GROWTH TRUST Eaton Vance Growth Trust
Table of Contents

 
 
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-01241
Investment Company Act File Number
Eaton Vance Growth Trust
(Exact Name of Registrant as Specified in Charter)
The Eaton Vance Building, 255 State Street, Boston, Massachusetts 02109
(Address of Principal Executive Offices)
Maureen A. Gemma
Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number, Including Area Code)
September 30
Date of Fiscal Year End
December 31, 2008
Date of Reporting Period
 
 

 

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Eaton Vance-Atlanta Capital SMID-Cap Fund as of December 31, 2008 (Unaudited)
Eaton Vance-Atlanta Capital SMID-Cap Fund (the Fund), a series of Eaton Vance Growth Trust, invests substantially all of its assets in SMID-Cap Portfolio (the Portfolio) and owns a pro rata interest in the Portfolio’s net assets. At December 31, 2008, the value of the Fund’s investment in the Portfolio was $36,957,580 and the Fund owned 89.8% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

 

 

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SMID-Cap Portfolio   as of December 31, 2008
PORTFOLIO OF INVESTMENTS (Unaudited)
Common Stocks — 97.1%
                 
Security   Shares     Value  
 
Air Freight & Logistics — 1.0%
               
Expeditors International of Washington, Inc.
     12,210     $ 406,227  
 
              
 
           $ 406,227  
 
              
Capital Markets — 8.0%
               
Affiliated Managers Group, Inc. (1)
     42,840     $ 1,795,853  
SEI Investments Co.
     94,960       1,491,822  
 
              
 
           $ 3,287,675  
 
              
Commercial Banks — 2.4%
               
City National Corp.
     7,620     $ 371,094  
Cullen/Frost Bankers, Inc.
     5,890       298,505  
Synovus Financial Corp.
     37,860       314,238  
 
              
 
           $ 983,837  
 
              
Commercial Services & Supplies — 2.2%
               
Copart, Inc. (1)
     33,330     $ 906,243  
 
              
 
           $ 906,243  
 
              
Construction & Engineering — 1.5%
               
Jacobs Engineering Group, Inc. (1)
     13,160     $ 632,996  
 
              
 
           $ 632,996  
 
              
Containers & Packaging — 2.5%
               
AptarGroup, Inc.
     28,620     $ 1,008,569  
 
              
 
           $ 1,008,569  
 
              
Distributors — 1.6%
               
LKQ Corp. (1)
     56,820     $ 662,521  
 
              
 
           $ 662,521  
 
              
Electrical Equipment — 2.0%
               
AMETEK, Inc.
     27,040     $ 816,878  
 
              
 
           $ 816,878  
 
              
Electronic Equipment, Instruments & Components — 4.5%
                
Amphenol Corp., Class A
     20,490     $ 491,350  
Mettler Toledo International, Inc. (1)
     11,850       798,690  
National Instruments Corp.
     23,850       580,986  
 
              
 
           $ 1,871,026  
 
              
Energy Equipment & Services — 2.5%
               
Dril-Quip, Inc. (1)
     19,850     $ 407,123  
Oceaneering International, Inc. (1)
     22,010       641,371  
 
              
 
           $ 1,048,494  
 
              
Food Products — 1.9%
               
McCormick & Co., Inc.
     24,050     $ 766,233  
 
              
 
           $ 766,233  
 
              

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Security   Shares     Value  
 
Gas Utilities — 2.0%
               
Energen Corp.
     28,230     $ 827,986  
 
              
 
           $ 827,986  
 
              
Health Care Equipment & Supplies — 4.0%
               
DENTSPLY International, Inc.
     33,100     $ 934,744  
Varian Medical Systems, Inc. (1)
     20,210       708,158  
 
              
 
           $ 1,642,902  
 
              
Health Care Providers & Services — 2.5%
               
Henry Schein, Inc. (1)
     27,620     $ 1,013,378  
 
              
 
           $ 1,013,378  
 
              
Hotels, Restaurants & Leisure — 3.0%
               
Sonic Corp. (1)
     102,620     $ 1,248,885  
 
              
 
           $ 1,248,885  
 
              
Household Durables — 1.5%
               
Mohawk Industries, Inc. (1)
     13,980     $ 600,721  
 
              
 
           $ 600,721  
 
              
Household Products — 1.0%
               
Church & Dwight Co., Inc.
     7,430     $ 416,972  
 
              
 
           $ 416,972  
 
              
Insurance — 9.8%
               
Brown and Brown, Inc.
     22,860     $ 477,774  
HCC Insurance Holdings, Inc.
     47,760       1,277,580  
Markel Corp. (1)
     5,566       1,664,234  
RLI Corp.
     9,720       594,475  
 
              
 
           $ 4,014,063  
 
              
IT Services — 1.7%
               
Total System Services, Inc.
     50,630     $ 708,820  
 
              
 
           $ 708,820  
 
              
Life Sciences Tools & Services — 3.4%
               
Bio-Rad Laboratories, Inc., Class A (1)
     12,430     $ 936,103  
Covance, Inc. (1)
     10,050       462,602  
 
              
 
           $ 1,398,705  
 
              
Machinery — 5.7%
               
Donaldson Co., Inc.
     9,200     $ 309,580  
Graco, Inc.
     25,260       599,420  
IDEX Corp.
     35,340       853,461  
Matthews International Corp., Class A
     15,980       586,146  
 
              
 
           $ 2,348,607  
 
              
Marine — 1.9%
               
Kirby Corp. (1)
     28,650     $ 783,864  
 
              
 
           $ 783,864  
 
              
Media — 3.8%
               
John Wiley & Sons, Inc., Class A
     17,260     $ 614,111  
Morningstar, Inc. (1)
     26,340       935,070  
 
              
 
           $ 1,549,181  
 
              
Personal Products — 2.7%
               
Alberto-Culver Co.
     44,700     $ 1,095,597  
 
              
 
           $ 1,095,597  
 
              
Real Estate Management & Development — 1.4%
                
Forest City Enterprises, Inc., Class A
     88,330     $ 591,811  
 
              
 
           $ 591,811  
 
              

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Security   Shares     Value  
 
Road & Rail — 2.3%
               
Landstar System, Inc.
     25,050     $ 962,672  
 
              
 
           $ 962,672  
 
              
Software — 10.4%
               
ANSYS, Inc. (1)
     28,180     $ 785,940  
Blackbaud, Inc.
     61,260       827,010  
FactSet Research Systems, Inc.
     24,430       1,080,783  
Fair Isaac Corp.
     52,340       882,452  
Jack Henry & Associates, Inc.
     37,380       725,546  
 
              
 
           $ 4,301,731  
 
              
Specialty Retail — 8.9%
               
Aaron Rents, Inc.
     35,630     $ 948,471  
CarMax, Inc. (1)
     52,390       412,833  
O’Reilly Automotive, Inc. (1)
     41,210       1,266,795  
Sally Beauty Holdings, Inc. (1)
     71,020       404,104  
Tiffany & Co.
     26,690       630,685  
 
              
 
           $ 3,662,888  
 
              
Trading Companies & Distributors — 1.0%
               
Fastenal Co.
     11,970     $ 417,155  
 
              
 
           $ 417,155  
 
              
 
                
Total Common Stocks
(identified cost $47,108,329)
           $ 39,976,637  
 
              
 
                
Total Investments — 97.1%
(identified cost $47,108,329)
           $ 39,976,637  
 
              
 
                
Other Assets, Less Liabilities — 2.9%
           $ 1,193,645  
 
              
 
                
Net Assets — 100.0%
           $ 41,170,282  
 
              
             
(1)          
Non-income producing security.

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The Portfolio did not have any open financial instruments at December 31, 2008.
The cost and unrealized appreciation (depreciation) of the investments of the Portfolio at December 31, 2008, as determined on a federal income tax basis, were as follows:
         
Aggregate cost
   $ 47,258,923  
 
      
Gross unrealized appreciation
   $ 1,608,889  
Gross unrealized depreciation
     (8,891,175 )
 
      
Net unrealized depreciation
   $ (7,282,286 )
 
      
The Portfolio adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157 (FAS 157), “Fair Value Measurements”, effective October 1, 2008. FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, 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)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At December 31, 2008, the inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:
             
        Investments in  
    Valuation Inputs   Securities  
Level 1
  Quoted Prices   $ 39,976,637  
Level 2
  Other Significant Observable Inputs     —  
Level 3
  Significant Unobservable Inputs     —  
 
         
Total
      $ 39,976,637  
 
         
The Portfolio held no investments or other financial instruments as of September 30, 2008 whose fair value was determined using Level 3 inputs.
For information on the Portfolio’s policy regarding valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

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Eaton Vance-Atlanta Capital Large-Cap Growth Fund as of December 31, 2008 (Unaudited)
Eaton Vance-Atlanta Capital Large-Cap Growth Fund (the Fund), a series of Eaton Vance Growth Trust, invests substantially all of its assets in Large-Cap Portfolio (the Portfolio) and owns a pro rata interest in the Portfolio’s net assets. At December 31, 2008, the value of the Fund’s investment in the Portfolio was $18,260,296 and the Fund owned 99.9% of the Portfolio’s outstanding interests. The Portfolio’s Portfolio of Investments is set forth below.

 

 

Table of Contents

Large-Cap Portfolio   as of December 31, 2008
PORTFOLIO OF INVESTMENTS (Unaudited)
Common Stocks — 98.0%
                 
Security   Shares     Value  
 
Aerospace & Defense — 1.5%
               
Honeywell International, Inc.
     8,500     $ 279,055  
 
              
 
           $ 279,055  
 
              
Air Freight & Logistics — 1.8%
               
United Parcel Service, Inc., Class B
     6,000     $ 330,960  
 
              
 
           $ 330,960  
 
              
Beverages — 3.4%
               
Coca-Cola Co. (The)
     8,300     $ 375,741  
Molson Coors Brewing Co., Class B
     4,800       234,816  
 
              
 
           $ 610,557  
 
              
Biotechnology — 1.5%
               
Genentech, Inc. (1)
     3,200     $ 265,312  
 
              
 
           $ 265,312  
 
              
Capital Markets — 7.3%
               
Bank of New York Mellon Corp. (The)
     10,735     $ 304,123  
Charles Schwab Corp. (The)
     22,000       355,740  
Goldman Sachs Group, Inc.
     2,500       210,975  
SEI Investments Co.
     14,000       219,940  
T. Rowe Price Group, Inc.
     7,000       248,080  
 
              
 
           $ 1,338,858  
 
              
Chemicals — 2.1%
               
Air Products and Chemicals, Inc.
     7,500     $ 377,025  
 
              
 
           $ 377,025  
 
              
Commercial Banks — 1.5%
               
Wells Fargo & Co.
     9,000     $ 265,320  
 
              
 
           $ 265,320  
 
              
Communications Equipment — 4.9%
               
Cisco Systems, Inc. (1)
     31,000     $ 505,300  
QUALCOMM, Inc.
     11,000       394,130  
 
              
 
           $ 899,430  
 
              
Computers & Peripherals — 7.8%
               
Apple, Inc. (1)
     6,000     $ 512,100  
Hewlett-Packard Co.
     13,000       471,770  
International Business Machines Corp.
     2,000       168,320  
NetApp, Inc. (1)
     20,000       279,400  
 
              
 
           $ 1,431,590  
 
              
Construction & Engineering — 1.3%
               
Jacobs Engineering Group, Inc. (1)
     5,000     $ 240,500  
 
              
 
           $ 240,500  
 
              
Construction Materials — 1.5%
               
Vulcan Materials Co.
     4,000     $ 278,320  
 
              
 
           $ 278,320  
 
              

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Security   Shares     Value  
 
Consumer Finance — 1.1%
               
American Express Co.
     11,000     $ 204,050  
 
              
 
           $ 204,050  
 
              
Electrical Equipment — 1.6%
               
Emerson Electric Co.
     8,000     $ 292,880  
 
              
 
           $ 292,880  
 
              
Energy Equipment & Services — 3.9%
               
National-Oilwell Varco, Inc. (1)
     15,000     $ 366,600  
Schlumberger, Ltd.
     8,000       338,640  
 
              
 
           $ 705,240  
 
              
Food & Staples Retailing — 7.8%
               
CVS Caremark Corp.
     20,000     $ 574,800  
Sysco Corp.
     21,000       481,740  
Wal-Mart Stores, Inc.
     6,500       364,390  
 
              
 
           $ 1,420,930  
 
              
Health Care Equipment & Supplies — 8.0%
               
DENTSPLY International, Inc.
     14,000     $ 395,360  
Intuitive Surgical, Inc. (1)
     1,200       152,388  
Medtronic, Inc.
     12,000       377,040  
St. Jude Medical, Inc. (1)
     8,000       263,680  
Stryker Corp.
     7,000       279,650  
 
              
 
           $ 1,468,118  
 
              
Health Care Providers & Services — 3.4%
               
Aetna, Inc.
     8,000     $ 228,000  
Laboratory Corp. of America Holdings (1)
     6,000       386,460  
 
              
 
           $ 614,460  
 
              
Household Products — 2.0%
               
Procter & Gamble Co.
     6,000     $ 370,920  
 
              
 
           $ 370,920  
 
              
Industrial Conglomerates — 1.4%
               
General Electric Co.
     16,000     $ 259,200  
 
              
 
           $ 259,200  
 
              
Insurance — 1.5%
               
AFLAC, Inc.
     6,000     $ 275,040  
 
              
 
           $ 275,040  
 
              
Internet Software & Services — 2.2%
               
Google, Inc., Class A (1)
     1,300     $ 399,945  
 
              
 
           $ 399,945  
 
              
IT Services — 1.3%
               
Automatic Data Processing, Inc.
     6,000     $ 236,040  
 
              
 
           $ 236,040  
 
              
Life Sciences Tools & Services — 1.5%
               
Pharmaceutical Product Development, Inc.
     9,200     $ 266,892  
 
              
 
           $ 266,892  
 
              
Machinery — 2.7%
               
Deere & Co.
     6,500     $ 249,080  
Dover Corp.
     7,500       246,900  
 
              
 
           $ 495,980  
 
              
Media — 1.6%
               
Omnicom Group, Inc.
     11,000     $ 296,120  
 
              
 
           $ 296,120  
 
              

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Security   Shares     Value  
 
Multiline Retail — 2.8%
               
Kohl’s Corp. (1)
     14,000     $ 506,800  
 
              
 
           $ 506,800  
 
              
Oil, Gas & Consumable Fuels — 4.7%
               
Apache Corp.
     4,700     $ 350,291  
EOG Resources, Inc.
     7,700       512,666  
 
              
 
           $ 862,957  
 
              
Pharmaceuticals — 4.1%
               
Abbott Laboratories
     9,000     $ 480,330  
Merck & Co., Inc.
     8,500       258,400  
 
              
 
           $ 738,730  
 
              
Semiconductors & Semiconductor Equipment — 4.8%
                
Intel Corp.
     28,000     $ 410,480  
Linear Technology Corp.
     12,000       265,440  
Microchip Technology, Inc.
     10,000       195,300  
 
              
 
           $ 871,220  
 
              
Software — 1.8%
               
Microsoft Corp.
     17,000     $ 330,480  
 
              
 
           $ 330,480  
 
              
Specialty Retail — 3.7%
               
Best Buy Co., Inc.
     8,000     $ 224,880  
Staples, Inc.
     25,000       448,000  
 
              
 
           $ 672,880  
 
              
Textiles, Apparel & Luxury Goods — 1.5%
               
Nike, Inc., Class B
     5,500     $ 280,500  
 
              
 
           $ 280,500  
 
              
Total Common Stocks
(identified cost $21,293,054)
           $ 17,886,309  
 
              
 
                
Total Investments — 98.0%
(identified cost $21,293,054)
           $ 17,886,309  
 
              
 
                
Other Assets, Less Liabilities — 2.0%
           $ 374,063  
 
              
 
                
Net Assets — 100.0%
           $ 18,260,372  
 
              
             
(1)          
Non-income producing security.

3

 

Table of Contents

The Portfolio did not have any open financial instruments at December 31, 2008.
The cost and unrealized appreciation (depreciation) of investments of the Portfolio at December 31, 2008, as determined on a federal income tax basis, were as follows:
         
Aggregate cost
   $ 21,313,562  
 
      
Gross unrealized appreciation
   $ 1,040,366  
Gross unrealized depreciation
     (4,467,619 )
 
      
Net unrealized depreciation
   $ (3,427,253 )
 
      
The Portfolio adopted Financial Accounting Standards Board Statement of Financial Accounting Standards No. 157 (FAS 157), “Fair Value Measurements”, effective October 1, 2008. FAS 157 established a three-tier hierarchy to prioritize the assumptions, referred to as inputs, 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)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At December 31, 2008, the inputs used in valuing the Portfolio’s investments, which are carried at value, were as follows:
             
        Investments in  
    Valuation Inputs   Securities  
Level 1
  Quoted Prices   $ 17,886,309  
Level 2
  Other Significant Observable Inputs     —  
Level 3
  Significant Unobservable Inputs     —  
 
         
Total
      $ 17,886,309  
 
         
The Portfolio held no investments or other financial instruments as of September 30, 2008 whose fair value was determined using Level 3 inputs.
For information on the Portfolio’s policy regarding valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

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Item 2. 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 on this Form N-Q 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 on this Form N-Q 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 fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

 

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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 Growth Trust
         
By:
  /s/ Thomas E. Faust Jr.
 
Thomas E. Faust Jr. 		   
 
  President    
 
        
Date:
  February 25, 2009    
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/ Thomas E. Faust Jr.
 
Thomas E. Faust Jr. 		   
 
  President    
 
        
Date:
  February 25, 2009    
 
        
By:
  /s/ Barbara E. Campbell    
 
       
 
  Barbara E. Campbell    
 
  Treasurer    
 
        
Date:
  February 25, 2009