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

811-09013

 

Eaton Vance Senior Income Trust

(Exact name of registrant as specified in charter)

 

The Eaton Vance Building, 255 State Street, Boston, Massachusetts

 

02109

(Address of principal executive offices)

 

(Zip code)

 

Alan R. Dynner
The Eaton Vance Building, 255 State Street, Boston, Massachusetts 02109

(Name and address of agent for service)

 

Registrant’s telephone number, including area code:

(617) 482-8260

 

 

Date of fiscal year end:

June 30

 

 

Date of reporting period:

June 30, 2005

 

 



 

Item 1. Reports to Stockholders

 



Annual Report June 30, 2005

EATON VANCE
SENIOR
INCOME
TRUST



IMPORTANT NOTICES REGARDING PRIVACY,
DELIVERY OF SHAREHOLDER DOCUMENTS,
PORTFOLIO HOLDINGS, AND PROXY VOTING

Privacy. The Eaton Vance organization is committed to ensuring your financial privacy. Each of the financial institutions identified below has in effect the following policy ("Privacy Policy") with respect to nonpublic personal information about its customers:

•  Only such information received from you, through application forms or otherwise, and information about your Eaton Vance fund transactions will be collected. This may include information such as name, address, social security number, tax status, account balances and transactions.

•  None of such information about you (or former customers) will be disclosed to anyone, except as permitted by law (which includes disclosure to employees necessary to service your account). In the normal course of servicing a customer's account, Eaton Vance may share information with unaffiliated third parties that perform various required services such as transfer agents, custodians and broker/dealers.

•  Policies and procedures (including physical, electronic and procedural safeguards) are in place that are designed to protect the confidentiality of such information.

•  We reserve the right to change our Privacy Policy at any time upon proper notification to you. Customers may want to review our Policy periodically for changes by accessing the link on our homepage: www.eatonvance.com.

Our pledge of privacy applies to the following entities within the Eaton Vance organization: the Eaton Vance Family of Funds, Eaton Vance Management, Eaton Vance Investment Counsel, Boston Management and Research, and Eaton Vance Distributors, Inc.

In addition, our Privacy Policy only applies to those Eaton Vance customers who are individuals and who have a direct relationship with us. If a customer's account (i.e., fund shares) is held in the name of a third-party financial adviser/broker-dealer, it is likely that only such adviser's privacy policies apply to the customer. This notice supersedes all previously issued privacy disclosures.

For more information about Eaton Vance's Privacy Policy, please call 1-800-262-1122.

Delivery of Shareholder Documents. The Securities and Exchange Commission (the "SEC") permits funds to deliver only one copy of shareholder documents, including prospectuses, proxy statements and shareholder reports, to fund investors with multiple accounts at the same residential or post office box address. This practice is often called "householding" and it helps eliminate duplicate mailings to shareholders.

Eaton Vance, or your financial adviser, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial adviser, otherwise.

If you would prefer that your Eaton Vance documents not be householded, please contact Eaton Vance at 1-800-262-1122, or contact your financial adviser.

Your instructions that householding not apply to delivery of your Eaton Vance documents will be effective within 30 days of receipt by Eaton Vance or your financial adviser.

Portfolio Holdings. Each Eaton Vance Fund and Portfolio (if applicable) will file a schedule of its portfolio holdings on Form N-Q with the SEC for the first and third quarters of each fiscal year. The Form N-Q will be available on the Eaton Vance website www.eatonvance.com, by calling Eaton Vance at 1-800-262-1122 or in the EDGAR database on the SEC's website at www.sec.gov. Form N-Q may also be reviewed and copied at the SEC's public reference room in Washington, D.C. (call 1-800-732-0330 for information on the operation of the public reference room).

Proxy Voting. From time to time, funds are required to vote proxies related to the securities held by the funds. The Eaton Vance Funds or their underlying Portfolios (if applicable) vote proxies according to a set of policies and procedures approved by the Funds' and Portfolios' Boards. You may obtain a description of these policies and procedures and information on how the Funds or Portfolios voted proxies relating to Portfolio securities during the most recent 12 month period ended June 30, without charge, upon request, by calling 1-800-262-1122. This description is also available on the SEC's website at www.sec.gov.



 

Eaton Vance Senior Income Trust as of June 30, 2005

MANAGEMENT’S DISCUSSION OF FUND PERFORMANCE

 

The Trust

 

Performance for the Period ended June 30, 2005

 

      Based on its June 2005 monthly dividend payment of $0.041 and a closing share price of $8.04, Eaton Vance Senior Income Trust, a closed-end fund traded on the New York Stock Exchange (the “Trust”), had a market yield of 6.12%.(1)

 

      Based on share price (traded on the New York Stock Exchange), the Trust had a total return of -10.42% for the year ended June 30, 2005.  That return was the result of a decrease in share price from $9.46 on June 30, 2004 to $8.04 on June 30, 2005 and the reinvestment of $0.456 in regular monthly dividends.(2)

 

      Based on net asset value, the Trust had a total return of 5.16% for the year ended June 30, 2005. That return was the result of a decrease in net asset value per share from $8.78 on June 30, 2004 to $8.76 on June 30, 2005, and the reinvestment of all distributions.(2)

 

      For performance comparison, the S&P/LSTA Leveraged Loan Index – an unmanaged index of U.S. dollar-denominated leveraged loans – had a total return of 4.33% for the year ended June 30, 2005.(3)

 

Management Discussion

 

      The Trust’s investment objective is to provide a high level of current income, consistent with preservation of capital, by investing primarily in senior, secured loans.

 

      The Trust’s investments in senior floating-rate loans represented 373 borrowers at June 30, 2005 and reflected a continued effort at diversification. The Trust’s average loan size was just 0.23% of loan assets, and no industry constituted more than 7% of the Trust’s total loan investments. Building and development (which includes companies that manage/own apartments, shopping malls and commercial office buildings, among others), health care, cable and satellite telvision, leisure goods/activities/movies and publishing were the Trust’s largest sector weightings.*

 

      Credit conditions remained relatively strong during the period, as companies in the Trust generally produced sufficient cash flow to meet debt service requirements. No specific sectors significantly underperformed within the Trust’s portfolio. At this point in the credit cycle, we currently expect to maintain a relatively high quality portfolio, especially given the heightened liquidity and general loosening of credit standards.

 

      Supply-and-demand factors for the loan asset class varied during the period, resulting in a small downward movement in the Trust’s NAV per share. Demand exceeded supply in the first quarter of 2005, but waned slightly in the second quarter, as certain crossover investors sold loans to take advantage of wider spreads in the high-yield bond market. At the end of the period, with the loan supply having steadied, technical factors appeared to be more balanced.

 

      Due to tight credit spreads in the high-yield bond market in the fall of 2004, the Trust continued to limit its exposure. As a percentage of each of net assets and total investments, high-yield bonds represented 16.5 and 9.7%, respectively, at June 30, 2005. A relatively low weighting limited potential NAV volatility when high-yield spreads widened in the first quarter of 2005.

 

      At June 30, 2005, the Trust had leverage in the amount of approximately 42% of the Trust’s total assets. The Trust employs leverage through the issuance of Auction Preferred Shares (APS) and participation in a commercial paper program. Use of financial leverage creates an opportunity for increased income, but, at the same time, creates special risks (including the likelihood of greater volatility of net asset value and market price of common shares). The cost of leverage rises and falls with changes in short-term interest rates. Such increases in cost of the Trust’s leverage may be offset by increased income from the Trust’s senior loan investments.

 


*      Holdings and industry weightings are subject to change due to active management.

 

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Trust’s current performance may be lower or higher than the quoted return.

 

Shares of the Trust are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested. Yield will vary.

 


(1)  The Trust’s market yield is calculated by dividing the most recent dividend per share by the share market price at the end of the period and annualizing the result.

 

(2)  Performance results reflect the effect of leverage resulting from the Trust’s issuance of Auction Preferred Shares and its participation in a commercial paper program.

 

(3)  It is not possible to invest directly in an Index. The Index’s total return reflects changes in value of the loans comprising the Index and accrual of interest and does not reflect the commissions or expenses that would have been incurred if an investor individually purchased or sold the loans represented in the Index. Unlike the Trust, the Index’s return does not reflect the effect of leverage, such as the issuance of Auction Preferred Shares.

 

(4)  In the event of a rise in long-term interest rates, the value of the Trust’s investment portfolio could decline, which would reduce the asset coverage for its Auction Preferred Shares.

 

2



 

Eaton Vance Senior Income Trust as of June 30, 2005

PERFORMANCE

 

Performance (1)

 

Average Annual Total Return (by share price, NYSE)

 

 

 

One Year

 

-10.42

%

Five Years

 

4.04

 

Life of Fund (10/30/98)

 

4.07

 

 

 

 

 

Average Annual Total Return (at net asset value)

 

 

 

One Year

 

5.16

%

Five Years

 

4.75

 

Life of Fund (10/30/98)

 

5.45

 

 


(1)  Performance results reflect the effect of leverage resulting from the Trust’s issuance of Auction Preferred Shares and its participation in a commercial paper program. In the event of a rise in long-term interest rates, the value of the Trust’s investment portfolio could decline, which would reduce the asset coverage for its Auction Preferred Shares.

 

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value or share price (as applicable) with all distributions reinvested. Investment return and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than the quoted return.

 

The views expressed in this report are those of the portfolio managers and are current only through the end of the period of the report as stated on the cover. These views are subject to change at any time based upon market or other conditions, and Eaton Vance disclaims any responsibility to update such views. These views may not be relied on as investment advice and, because investment decisions for an Eaton Vance fund are based on many factors, may not be relied on as an indication of trading intent on behalf of any Eaton Vance fund.

 

Diversification by Industries (2)

 

Building & Development

 

7.1

%

Healthcare

 

5.9

 

Telecommunications

 

5.5

 

Cable & Satellite Television

 

5.5

 

Publishing

 

4.8

 

Leisure Goods/Activities/Movies

 

4.5

 

Automotive

 

4.4

 

Chemicals & Plastics

 

4.4

 

Oil & Gas

 

4.3

 

Radio & Television

 

4.3

 

Containers & Glass Products

 

4.2

 

Lodging & Casinos

 

3.9

 

Retailers

 

3.1

 

Electronics/Electrical

 

3.1

 

Food Products

 

2.8

 

Business Equip. & Services

 

2.2

 

Utilities

 

2.2

 

Financial Intermediaries

 

2.2

 

Conglomerates

 

2.0

 

Food/Drug Retailers

 

1.9

 

Insurance

 

1.8

 

Food Service

 

1.8

%

Home Furnishings

 

1.8

 

Industrial Equipment

 

1.7

 

Nonferrous Metals/Minerals

 

1.6

 

Ecological Services & Equip.

 

1.5

 

Forest Products

 

1.4

 

Beverage & Tobacco

 

1.3

 

Aerospace & Defense

 

1.0

 

Equipment Leasing

 

0.7

 

Air Transport

 

0.6

 

Clothing/Textiles

 

0.6

 

Drugs

 

0.6

 

Surface Transport

 

0.5

 

Cosmetics/Toiletries

 

0.5

 

Rail Industries

 

0.2

 

Farming/Agriculture

 

0.1

 

Semiconductors

 

0.1

 

Entertainment

 

0.1

 

Consumer Products

 

0.0

 

All others

 

0.2

 

 


(2)   Reflects the Trust’s total investments as of June 30, 2005. Industries are shown as a percentage of the Trust’s total investments. Statistics may not be representative of current or future investments and may change due to active management.

 

Diversification(3)

By investment type

 

 


(3)   Reflects the Trust’s investments as of June 30, 2005. Investment types are shown as a percentage of the Trust’s total investments. Statistics may not be representative of current or future investments and may change due to active management.

 

3



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS

  Senior Floating Rate Interests - 147.2%(1)        
Principal
Amount
  Borrower/Tranche Description   Value  
  Aerospace and Defense - 1.7%        
Alliant Tech Systems, Inc.  
$ 341,250     Term Loan, 4.66%, Maturing March 31, 2009   $ 342,316    
  Hexcel Corp.        
  234,333     Term Loan, 4.91%, Maturing March 1, 2012     236,494    
  K&F Industries, Inc.        
  381,900     Term Loan, 5.77%, Maturing November 18, 2012     387,117    
  Standard Aero Holdings, Inc.        
  1,153,046     Term Loan, 5.68%, Maturing August 24, 2012     1,170,342    
  Transdigm, Inc.        
  1,975,000     Term Loan, 5.44%, Maturing July 22, 2010     1,999,071    
  Vought Aircraft Industries, Inc.        
  1,129,659     Term Loan, 5.83%, Maturing December 22, 2011     1,147,169    
            $ 5,282,509    
  Air Transport - 0.6%        
United Airlines, Inc.  
$ 1,983,727     DIP Loan, 9.75%, Maturing December 31, 2005   $ 1,998,605    
            $ 1,998,605    
  Automotive - 7.0%        
Accuride Corp.  
$ 1,301,539     Term Loan, 5.65%, Maturing January 31, 2012   $ 1,306,094    
  Affina Group, Inc.        
  333,325     Term Loan, 5.44%, Maturing November 30, 2011     333,742    
  Collins & Aikman Products Co.        
  980,597     Term Loan, 7.94%, Maturing August 31, 2011(2)     739,908    
  CSA Acquisition Corp.        
  123,960     Term Loan, 5.50%, Maturing December 23, 2011     124,038    
  199,415     Term Loan, 5.50%, Maturing December 23, 2011     199,539    
  Dayco Products, LLC        
  1,386,000     Term Loan, 6.43%, Maturing June 23, 2011     1,395,963    
  Exide Technologies        
  474,826     Term Loan, 6.81%, Maturing May 5, 2010     460,581    
  474,826     Term Loan, 8.56%, Maturing May 5, 2010     474,826    
  Federal-Mogul Corp.        
  750,000     Term Loan, 5.58%, Maturing December 31, 2005     670,469    
  1,500,000     Term Loan, 5.99%, Maturing December 31, 2005     1,346,250    
  763,183     Term Loan, 7.08%, Maturing December 31, 2005     765,091    
  Goodyear Tire & Rubber Co.        
  470,000     Term Loan, 4.67%, Maturing April 30, 2010     471,930    
  1,580,000     Term Loan, 5.89%, Maturing April 30, 2010     1,580,423    
  500,000     Term Loan, 6.64%, Maturing March 1, 2011     490,804    

 

Principal
Amount
  Borrower/Tranche Description   Value  
  Automotive (continued)        
HLI Operating Co., Inc.  
$ 1,778,118     Term Loan, 6.57%, Maturing June 3, 2009   $ 1,795,899    
  350,000     Term Loan, 8.92%, Maturing June 3, 2010     351,094    
  Key Automotive Group        
  928,104     Term Loan, 6.20%, Maturing June 29, 2010     924,623    
  Metaldyne Corp.        
  815,510     Term Loan, 7.62%, Maturing December 31, 2009     785,608    
  Plastech Engineered Products, Inc.        
  474,138     Term Loan, 8.24%, Maturing March 31, 2010     442,371    
  R.J. Tower Corp.        
  1,175,000     DIP Loan, 6.63%, Maturing February 2, 2007     1,185,526    
  Tenneco Automotive, Inc.        
  1,194,224     Term Loan, 5.36%, Maturing December 12, 2010     1,210,645    
  TI Automotive, Ltd.        
  648,527     Term Loan, 6.91%, Maturing June 30, 2011     634,746    
  Trimas Corp.        
  2,143,837     Term Loan, 6.90%, Maturing December 31, 2009     2,156,342    
  TRW Automotive, Inc.        
  1,578,841     Term Loan, 4.38%, Maturing June 30, 2012     1,586,594    
  United Components, Inc.        
  844,358     Term Loan, 5.75%, Maturing June 30, 2010     857,288    
            $ 22,290,394    
  Beverage and Tobacco - 2.1%        
Alliance One International, Inc.  
$ 423,938     Term Loan, 6.73%, Maturing May 13, 2010   $ 431,356    
  Constellation Brands, Inc.        
  2,234,942     Term Loan, 5.15%, Maturing November 30, 2011     2,259,463    
  Culligan International Co.        
  850,000     Term Loan, 5.71%, Maturing September 30, 2011     860,094    
  DS Waters, L.P.        
  306,354     Term Loan, 7.83%, Maturing November 7, 2009     297,068    
  National Dairy Holdings, L.P.        
  159,600     Term Loan, 5.33%, Maturing March 15, 2012     161,595    
  Southern Wine & Spirits of America        
  2,427,744     Term Loan, 4.99%, Maturing May 31, 2012     2,444,435    
  Sunny Delight Beverages Co.        
  364,412     Term Loan, 7.54%, Maturing August 20, 2010     367,145    
            $ 6,821,156    
  Building and Development - 11.8%        
AIMCO Properties, L.P.  
$ 700,000     Term Loan, 5.16%, Maturing November 2, 2009   $ 706,125    
  2,350,000     Term Loan, 5.21%, Maturing November 2, 2009     2,379,375    

 

See notes to financial statements

4



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
Building and Development (continued)  
  Biomed Realty, L.P.        
$ 1,640,000     Term Loan, 5.36%, Maturing May 31, 2010   $ 1,642,050    
Custom Building Products, Inc.  
  408,975     Term Loan, 5.74%, Maturing October 29, 2011     411,275    
DMB/CHII, LLC  
  413,201     Term Loan, 5.68%, Maturing March 3, 2007     414,234    
Formica Corp.  
  64,643     Term Loan, 8.26%, Maturing June 10, 2010     64,966    
  156,649     Term Loan, 8.27%, Maturing June 10, 2010     157,433    
  80,111     Term Loan, 8.27%, Maturing June 10, 2010     80,511    
  229,192     Term Loan, 8.28%, Maturing June 10, 2010     230,338    
FT-FIN Acquisition, LLC  
  686,462     Term Loan, 7.63%, Maturing November 17, 2007     688,178    
General Growth Properties, Inc.  
  4,702,615     Term Loan, 5.33%, Maturing November 12, 2008     4,742,408    
Hovstone Holdings, LLC  
  655,000     Term Loan, 5.45%, Maturing February 28, 2009     656,638    
Landsource Communities, LLC  
  1,502,000     Term Loan, 5.75%, Maturing March 31, 2010     1,509,980    
LNR Property Corp.  
  2,288,230     Term Loan, 6.21%, Maturing February 3, 2008     2,297,424    
  1,000,000     Term Loan, 6.21%, Maturing February 3, 2008(3)     999,375    
LNR Property Holdings  
  500,000     Term Loan, 7.71%, Maturing February 3, 2008     500,938    
MAAX Corp.  
  435,600     Term Loan, 5.86%, Maturing June 4, 2011     437,778    
Mueller Group, Inc.  
  1,177,862     Term Loan, 6.05%, Maturing April 25, 2011     1,188,169    
Newkirk Master, L.P.  
  1,124,032     Term Loan, 7.60%, Maturing November 24, 2006     1,131,760    
Newkirk Tender Holdings, LLC  
  911,305     Term Loan, 7.83%, Maturing May 25, 2006     913,583    
  944,444     Term Loan, 9.12%, Maturing May 25, 2006     946,806    
Nortek, Inc.  
  942,875     Term Loan, 5.92%, Maturing August 27, 2011     948,964    
Panolam Industries Holdings, Inc.  
  507,747     Term Loan, 6.38%, Maturing December 3, 2010     514,729    
  641,167     Term Loan, 10.63%, Maturing June 3, 2011     657,196    
Ply Gem Industries, Inc.  
  374,533     Term Loan, 5.60%, Maturing February 12, 2011     375,470    
  96,087     Term Loan, 6.16%, Maturing February 12, 2011     96,327    
  653,898     Term Loan, 6.16%, Maturing February 12, 2011     655,533    
South Edge, LLC  
  328,125     Term Loan, 5.31%, Maturing October 31, 2007     329,355    
  421,875     Term Loan, 5.56%, Maturing October 31, 2009     425,830    

 

Principal
Amount
  Borrower/Tranche Description   Value  
  Building and Development (continued)        
Stile Acquisition Corp.  
$ 735,030     Term Loan, 5.22%, Maturing April 6, 2013   $ 734,826    
  Stile U.S. Acquisition Corp.        
  736,282     Term Loan, 5.22%, Maturing April 6, 2013     736,078    
  Sugarloaf Mills, L.P.        
  1,000,000     Term Loan, 5.05%, Maturing April 7, 2007     1,005,000    
  1,200,000     Term Loan, 6.18%, Maturing April 7, 2007     1,200,000    
  The Macerich Partnership, L.P.        
  745,000     Term Loan, 4.89%, Maturing July 30, 2007     745,000    
  650,000     Term Loan, 4.82%, Maturing April 25, 2010     649,188    
  The Woodlands Community Property Co.        
  1,304,000     Term Loan, 5.37%, Maturing November 30, 2007     1,312,150    
  923,000     Term Loan, 7.37%, Maturing November 30, 2007     936,845    
  Tousa/Kolter, LLC        
  1,110,000     Term Loan, 5.78%, Maturing January 7, 2008(3)     1,115,550    
  Tower Financing, LLC        
  1,500,000     Term Loan, 6.69%, Maturing April 8, 2008     1,501,875    
  Trustreet Properties, Inc.        
  465,000     Term Loan, 5.18%, Maturing April 8, 2010     468,778    
  Whitehall Street Real Estate, L.P.        
  1,268,265     Term Loan, 7.08%, Maturing September 11, 2006(4)     1,288,684    
            $ 37,796,722    
  Business Equipment and Services - 3.6%        
Allied Security Holdings, LLC  
$ 832,514     Term Loan, 7.24%, Maturing June 30, 2010   $ 846,042    
  Baker & Taylor, Inc.        
  1,700,000     Term Loan, 10.16%, Maturing May 6, 2011     1,717,000    
  DynCorp International, LLC        
  655,000     Term Loan, 6.06%, Maturing February 11, 2011     662,369    
  Global Imaging Systems, Inc.        
  486,350     Term Loan, 4.92%, Maturing May 10, 2010     489,846    
  Info USA, Inc.        
  367,625     Term Loan, 6.24%, Maturing June 9, 2010     368,544    
  Iron Mountain, Inc.        
  3,999,989     Term Loan, 5.13%, Maturing April 2, 2011     4,031,489    
  Mitchell International, Inc.        
  423,168     Term Loan, 6.24%, Maturing August 13, 2011     430,044    
  744,997     Term Loan, 9.34%, Maturing August 15, 2012     765,484    
  Protection One, Inc.        
  498,200     Term Loan, 6.29%, Maturing April 18, 2011     504,428    
  Quintiles Transnational Corp.        
  748,304     Term Loan, 4.84%, Maturing September 25, 2009     752,513    
  Transaction Network Services, Inc.        
  608,475     Term Loan, 5.41%, Maturing May 4, 2012     609,996    

 

See notes to financial statements

5



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
Business Equipment and Services (continued)  
  Western Inventory Services        
$ 275,000     Term Loan, 10.23%, Maturing October 14, 2011   $ 277,063    
            $ 11,454,818    
Cable and Satellite Television - 8.8%  
  Adelphia Communications Corp.        
$ 1,816,952     DIP Loan, 5.38%, Maturing March 31, 2006   $ 1,824,049    
Atlantic Broadband Finance, LLC  
  1,494,183     Term Loan, 6.11%, Maturing September 1, 2011     1,505,389    
Bragg Communication, Inc.  
  555,845     Term Loan, 5.82%, Maturing August 31, 2011     562,446    
Bresnan Communications, LLC  
  500,000     Term Loan, 7.05%, Maturing September 30, 2009     507,344    
  1,000,000     Term Loan, 6.67%, Maturing September 30, 2010     1,014,000    
Canadian Cable Acquisition Co., Inc.  
  999,900     Term Loan, 6.49%, Maturing July 30, 2011     1,009,587    
Cebridge Connections, Inc.  
  757,350     Term Loan, 6.58%, Maturing February 23, 2009     759,717    
  790,000     Term Loan, 9.25%, Maturing February 23, 2010     788,025    
Charter Communications Operating, LLC  
  7,172,538     Term Loan, 6.44%, Maturing April 27, 2011     7,136,998    
Insight Midwest Holdings, LLC  
  1,970,000     Term Loan, 6.13%, Maturing December 31, 2009     1,992,779    
  1,477,500     Term Loan, 6.13%, Maturing December 31, 2009     1,494,584    
MCC Iowa, LLC  
  841,516     Term Loan, 5.25%, Maturing February 3, 2014     848,470    
Mediacom Illinois, LLC  
  1,990,000     Term Loan, 5.32%, Maturing March 31, 2013     2,012,543    
NTL, Inc.  
  1,750,000     Term Loan, 6.41%, Maturing April 13, 2012     1,760,574    
Rainbow National Services, LLC  
  1,484,958     Term Loan, 6.13%, Maturing March 31, 2012     1,500,550    
UGS Corp.  
  1,528,154     Term Loan, 5.33%, Maturing March 31, 2012     1,545,346    
UPC Broadband Holdings B.V.  
  1,780,000     Term Loan, 5.75%, Maturing September 30, 2012     1,781,607    
            $ 28,044,008    
Chemicals and Plastics - 6.6%  
  Brenntag AG        
$ 1,275,000     Term Loan, 5.88%, Maturing December 9, 2011   $ 1,291,416    
Carmeuse Lime, Inc.  
  325,000     Term Loan, 5.13%, Maturing May 2, 2011     327,438    

 

Principal
Amount
  Borrower/Tranche Description   Value  
  Chemicals and Plastics (continued)        
Hercules, Inc.  
$ 493,750     Term Loan, 4.89%, Maturing October 8, 2010   $ 499,181    
  Hexion Specialty Chemicals, Inc.        
  90,000     Term Loan, 2.50%, Maturing May 31, 2012     91,125    
  378,000     Term Loan, 5.88%, Maturing May 31, 2012     382,725    
  522,000     Term Loan, 5.88%, Maturing May 31, 2012     528,525    
  Huntsman International, LLC        
  1,915,053     Term Loan, 5.56%, Maturing December 31, 2010     1,924,927    
  Huntsman, LLC        
  1,116,084     Term Loan, 6.34%, Maturing March 31, 2010     1,122,536    
  Innophos, Inc.        
  495,985     Term Loan, 5.48%, Maturing August 13, 2010     499,912    
  Invista B.V.        
  2,018,648     Term Loan, 5.75%, Maturing April 29, 2011     2,051,031    
  875,818     Term Loan, 5.75%, Maturing April 29, 2011     889,868    
  ISP Chemco, Inc.        
  691,250     Term Loan, 5.20%, Maturing March 27, 2011     700,323    
  Kraton Polymer, LLC        
  1,471,566     Term Loan, 6.28%, Maturing December 23, 2010     1,495,479    
  Mosaic Co.        
  768,075     Term Loan, 5.00%, Maturing February 21, 2012     775,156    
  Nalco Co.        
  3,329,426     Term Loan, 5.39%, Maturing November 4, 2010     3,385,610    
  Niagara Acquisition, Inc.        
  264,338     Term Loan, 5.50%, Maturing February 11, 2012     266,816    
  Rockwood Specialties Group, Inc.        
  2,335,000     Term Loan, 5.43%, Maturing December 10, 2012     2,370,756    
  Solo Cup Co.        
  1,353,433     Term Loan, 5.40%, Maturing February 27, 2011     1,367,306    
  Wellman, Inc.        
  900,000     Term Loan, 7.21%, Maturing February 10, 2009     920,625    
  Westlake Chemical Corp.        
  40,000     Term Loan, 5.70%, Maturing July 31, 2010     40,400    
            $ 20,931,155    
  Clothing / Textiles - 0.6%        
Propex Fabrics, Inc.  
$ 185,250     Term Loan, 5.74%, Maturing December 31, 2011   $ 185,713    
  SI Corp.        
  853,550     Term Loan, 7.49%, Maturing December 9, 2009     859,952    
  St. John Knits International, Inc.        
  927,675     Term Loan, 6.00%, Maturing March 23, 2012     938,691    
            $ 1,984,356    

 

See notes to financial statements

6



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
  Conglomerates - 3.2%        
Amsted Industries, Inc.  
$ 2,142,586     Term Loan, 5.72%, Maturing October 15, 2010   $ 2,169,369    
  Blount, Inc.        
  713,068     Term Loan, 5.87%, Maturing August 9, 2010     721,387    
  Gentek, Inc.        
  314,212     Term Loan, 5.97%, Maturing February 25, 2011     314,802    
  430,000     Term Loan, 8.89%, Maturing February 25, 2012     401,620    
  Goodman Global Holdings, Inc.        
  641,775     Term Loan, 5.50%, Maturing December 23, 2011     649,797    
  Johnson Diversey, Inc.        
  630,000     Term Loan, 4.61%, Maturing November 30, 2009     635,513    
  1,189,445     Term Loan, 4.87%, Maturing November 30, 2009     1,201,712    
  Polymer Group, Inc.        
  1,170,159     Term Loan, 6.73%, Maturing April 27, 2010     1,188,200    
  1,250,000     Term Loan, 9.34%, Maturing April 27, 2011     1,277,604    
  PP Acquisition Corp.        
  1,668,750     Term Loan, 5.58%, Maturing November 12, 2011     1,679,180    
            $ 10,239,184    
  Containers and Glass Products - 6.8%        
Berry Plastics Corp.  
$ 2,139,317     Term Loan, 5.60%, Maturing June 30, 2010   $ 2,174,348    
  BWAY Corp.        
  325,500     Term Loan, 5.50%, Maturing June 30, 2011     330,230    
  Celanese Holdings, LLC        
  270,000     Term Loan, 0.00%, Maturing April 6, 2011(3)     272,363    
  2,129,872     Term Loan, 5.74%, Maturing April 6, 2011     2,162,152    
  Consolidated Container Holding, LLC        
  643,500     Term Loan, 6.69%, Maturing December 15, 2008     651,946    
  Dr. Pepper/Seven Up Bottling Group, Inc.        
  1,321,377     Term Loan, 5.33%, Maturing December 19, 2010     1,339,215    
  Graham Packaging Holdings Co.        
  2,288,500     Term Loan, 5.76%, Maturing October 7, 2011     2,324,020    
  1,000,000     Term Loan, 7.75%, Maturing April 7, 2012     1,030,000    
  Graphic Packaging International, Inc.        
  5,062,742     Term Loan, 5.51%, Maturing August 8, 2009     5,146,065    
  IPG (US), Inc.        
  367,225     Term Loan, 5.49%, Maturing July 28, 2011     372,733    
  Kranson Industries, Inc.        
  495,000     Term Loan, 6.24%, Maturing July 30, 2011     501,188    
  Owens-Illinois, Inc.        
  486,733     Term Loan, 4.92%, Maturing April 1, 2007     489,978    
  394,214     Term Loan, 5.02%, Maturing April 1, 2007     397,664    
  Smurfit-Stone Container Corp.        
  315,687     Term Loan, 3.09%, Maturing November 1, 2010     320,357    

 

Principal
Amount
  Borrower/Tranche Description   Value  
  Containers and Glass Products (continued)        
$ 799,911     Term Loan, 5.29%, Maturing November 1, 2011   $ 811,510    
  2,516,603     Term Loan, 5.42%, Maturing November 1, 2011     2,553,093    
  U.S. Can Corp.        
  987,500     Term Loan, 6.94%, Maturing January 15, 2010     992,438    
            $ 21,869,300    
  Cosmetics / Toiletries - 0.8%        
American Safety Razor Co.  
$ 997,500     Term Loan, 6.01%, Maturing February 28, 2012   $ 1,004,981    
  Prestige Brands, Inc.        
  888,750     Term Loan, 5.38%, Maturing April 7, 2011     899,119    
  Revlon Consumer Products Corp.        
  721,875     Term Loan, 9.25%, Maturing July 9, 2010     747,367    
            $ 2,651,467    
  Drugs - 0.9%        
Warner Chilcott Corp.  
$ 1,870,583     Term Loan, 5.98%, Maturing January 18, 2012   $ 1,877,431    
  753,754     Term Loan, 6.01%, Maturing January 18, 2012     756,513    
  348,213     Term Loan, 6.01%, Maturing January 18, 2012     349,488    
            $ 2,983,432    
  Ecological Services and Equipment - 2.3%        
Alderwoods Group, Inc.  
$ 345,610     Term Loan, 5.28%, Maturing September 29, 2009   $ 350,254    
  Allied Waste Industries, Inc.        
  993,341     Term Loan, 4.87%, Maturing January 15, 2010     996,928    
  2,602,490     Term Loan, 5.37%, Maturing January 15, 2012     2,611,362    
  Envirocare of Utah, LLC        
  840,000     Term Loan, 6.11%, Maturing April 15, 2010     846,650    
  Environmental Systems Products Holdings, Inc.        
  1,178,581     Term Loan, 6.92%, Maturing December 12, 2008     1,201,416    
  IESI Corp.        
  441,176     Term Loan, 5.18%, Maturing January 20, 2012     445,036    
  Sensus Metering Systems, Inc.        
  771,939     Term Loan, 5.54%, Maturing December 17, 2010     781,266    
  115,791     Term Loan, 5.54%, Maturing December 17, 2010     117,190    
            $ 7,350,102    
  Electronics / Electrical - 5.2%        
AMI Semiconductor, Inc.  
$ 633,413     Term Loan, 4.83%, Maturing April 1, 2012   $ 637,371    
  Cellnet Technology, Inc.        
  315,000     Term Loan, 4.50%, Maturing April 26, 2012     314,213    

 

See notes to financial statements

7



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
Electronics / Electrical (continued)  
  Communications & Power, Inc.        
$ 444,444     Term Loan, 5.38%, Maturing July 23, 2010   $ 451,389    
Enersys Capital, Inc.  
  990,000     Term Loan, 5.34%, Maturing March 17, 2011     1,003,922    
Fairchild Semiconductor Corp.  
  1,470,127     Term Loan, 5.35%, Maturing December 31, 2010     1,486,666    
  661,666     Term Loan, 5.35%, Maturing December 31, 2010     672,418    
Invensys International Holdings Limited  
  2,307,398     Term Loan, 6.88%, Maturing September 4, 2009     2,347,777    
Memec Group, Ltd.  
  500,000     Term Loan, 5.63%, Maturing June 2, 2009     500,000    
  1,000,000     Term Loan, 11.19%, Maturing June 15, 2010     1,008,125    
Panavision, Inc.  
  1,043,160     Term Loan, 9.64%, Maturing January 12, 2007     1,067,284    
Rayovac Corp.  
  2,922,675     Term Loan, 5.21%, Maturing February 7, 2012     2,959,816    
Security Co., Inc.  
  495,000     Term Loan, 7.50%, Maturing June 30, 2010     499,331    
  500,000     Term Loan, 10.31%, Maturing June 30, 2011     506,875    
Telcordia Technologies, Inc.  
  1,560,000     Term Loan, 6.07%, Maturing September 15, 2012     1,538,550    
United Online, Inc.  
  422,222     Term Loan, 5.94%, Maturing December 13, 2008     424,333    
Vertafore, Inc.  
  259,304     Term Loan, 6.05%, Maturing December 22, 2010     260,925    
  500,000     Term Loan, 9.51%, Maturing December 22, 2011     507,500    
Viasystems, Inc.  
  496,253     Term Loan, 7.64%, Maturing September 30, 2009     501,423    
            $ 16,687,918    
Equipment Leasing - 1.1%  
  Ashtead Group, PLC        
$ 1,000,000     Term Loan, 5.56%, Maturing November 12, 2009   $ 1,010,625    
Maxim Crane Works, L.P.  
  868,274     Term Loan, 6.18%, Maturing January 28, 2010     884,554    
  510,000     Term Loan, 8.94%, Maturing January 28, 2012     531,675    
United Rentals, Inc.  
  166,667     Term Loan, 2.25%, Maturing February 14, 2011     169,063    
  822,917     Term Loan, 5.57%, Maturing February 14, 2011     834,540    
            $ 3,430,457    
Farming / Agriculture - 0.3%  
  Central Garden & Pet Co.        
$ 784,757     Term Loan, 5.03%, Maturing May 15, 2009   $ 794,566    
            $ 794,566    

 

Principal
Amount
  Borrower/Tranche Description   Value  
Financial Intermediaries - 1.9%  
  Coinstar, Inc.        
$ 310,210     Term Loan, 5.13%, Maturing July 7, 2011   $ 314,864    
Corrections Corp. of America  
  507,818     Term Loan, 4.91%, Maturing March 31, 2008     512,896    
Fidelity National Information Solutions, Inc.  
  3,367,125     Term Loan, 4.96%, Maturing March 9, 2013     3,357,478    
Refco Group Ltd., LLC  
  1,875,650     Term Loan, 5.31%, Maturing February 6, 2012     1,883,036    
            $ 6,068,274    
Food Products - 4.1%  
  Acosta Sales Co., Inc.        
$ 521,063     Term Loan, 5.29%, Maturing August 13, 2010   $ 527,739    
American Seafoods Holdings, LLC  
  135,773     Term Loan, 6.49%, Maturing September 30, 2007     136,027    
  738,550     Term Loan, 6.74%, Maturing March 31, 2009     743,859    
Atkins Nutritional, Inc.  
  406,606     Term Loan, 8.25%, Maturing November 26, 2009(2)     232,782    
Del Monte Corp.  
  450,000     Term Loan, 4.69%, Maturing February 8, 2012     455,400    
Doane Pet Care Co.  
  1,071,900     Term Loan, 7.41%, Maturing November 5, 2009     1,094,008    
Dole Food Company, Inc.  
  586,094     Term Loan, 4.93%, Maturing April 18, 2012     591,039    
Herbalife International, Inc.  
  250,100     Term Loan, 4.66%, Maturing December 21, 2010     250,725    
Interstate Brands Corp.  
  485,000     Term Loan, 7.26%, Maturing July 19, 2007     473,936    
  901,793     Term Loan, 7.46%, Maturing July 19, 2007     881,954    
Merisant Co.  
  1,466,832     Term Loan, 6.44%, Maturing January 11, 2010     1,455,830    
Michael Foods, Inc.  
  912,752     Term Loan, 5.13%, Maturing November 21, 2010     928,154    
  1,000,000     Term Loan, 6.59%, Maturing November 21, 2011     1,023,125    
Pinnacle Foods Holdings Corp.  
  3,208,756     Term Loan, 6.35%, Maturing November 25, 2010     3,228,310    
Reddy Ice Group, Inc.  
  954,722     Term Loan, 5.84%, Maturing August 15, 2009     960,391    
            $ 12,983,279    
Food Service - 3.1%  
  AFC Enterprises, Inc.        
$ 915,000     Term Loan, 5.75%, Maturing May 11, 2011   $ 917,288    
Buffets, Inc.  
  209,091     Term Loan, 6.78%, Maturing June 28, 2009     211,443    

 

See notes to financial statements

8



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
  Food Service (continued)        
$ 1,020,465     Term Loan, 7.16%, Maturing June 28, 2009   $ 1,030,669    
  Carrols Corp.        
  791,025     Term Loan, 6.00%, Maturing December 31, 2010     800,583    
  CKE Restaurants, Inc.        
  240,303     Term Loan, 5.25%, Maturing May 1, 2010     243,307    
  Denny's, Inc.        
  1,243,756     Term Loan, 6.57%, Maturing September 21, 2009     1,277,959    
  Domino's, Inc.        
  3,136,341     Term Loan, 5.25%, Maturing June 25, 2010     3,182,407    
  Jack in the Box, Inc.        
  740,625     Term Loan, 4.79%, Maturing January 8, 2011     748,031    
  Maine Beverage Co., LLC        
  441,964     Term Loan, 5.24%, Maturing March 31, 2013     440,859    
  Ruth's Chris Steak House, Inc.        
  413,619     Term Loan, 6.25%, Maturing March 11, 2011     414,653    
  Weight Watchers International, Inc.        
  496,250     Term Loan, 4.65%, Maturing March 31, 2010     502,143    
            $ 9,769,342    
  Food / Drug Retailers - 3.2%        
Cumberland Farms, Inc.  
$ 2,318,933     Term Loan, 5.06%, Maturing September 8, 2008   $ 2,331,977    
  General Nutrition Centers, Inc.        
  837,907     Term Loan, 6.42%, Maturing December 7, 2009     847,334    
  Giant Eagle, Inc.        
  2,826,647     Term Loan, 5.16%, Maturing August 6, 2009     2,862,865    
  Roundy's, Inc.        
  1,184,447     Term Loan, 5.27%, Maturing September 30, 2009     1,196,292    
  The Jean Coutu Group (PJC), Inc.        
  1,911,806     Term Loan, 5.50%, Maturing July 30, 2011     1,941,380    
  The Pantry, Inc.        
  1,047,341     Term Loan, 5.58%, Maturing March 12, 2011     1,060,760    
            $ 10,240,608    
  Forest Products - 1.9%        
Boise Cascade Holdings, LLC  
$ 1,983,637     Term Loan, 5.20%, Maturing October 29, 2011   $ 2,011,739    
  Buckeye Technologies, Inc.        
  193,463     Term Loan, 5.28%, Maturing March 15, 2008     196,446    
  Escanaba Timber, LLC        
  315,000     Term Loan, 6.00%, Maturing May 2, 2008     320,906    
  Koch Cellulose, LLC        
  286,936     Term Loan, 4.61%, Maturing May 7, 2011     289,805    
  936,258     Term Loan, 5.24%, Maturing May 7, 2011     945,621    

 

Principal
Amount
  Borrower/Tranche Description   Value  
  Forest Products (continued)        
NewPage Corp.  
$ 1,150,000     Term Loan, 6.38%, Maturing May 2, 2011   $ 1,164,016    
  RLC Industries Co.        
  584,036     Term Loan, 4.99%, Maturing February 24, 2010     586,469    
  Xerium Technologies, Inc.        
  485,000     Term Loan, 5.07%, Maturing May 18, 2012     489,850    
            $ 6,004,852    
  Healthcare - 9.3%        
Accredo Health, Inc.  
$ 969,500     Term Loan, 5.08%, Maturing June 30, 2011   $ 973,136    
  Alliance Imaging, Inc.        
  1,188,534     Term Loan, 5.53%, Maturing December 29, 2011     1,204,134    
  AMN Healthcare, Inc.        
  341,995     Term Loan, 6.49%, Maturing October 2, 2008     344,560    
  AMR HoldCo, Inc.        
  892,763     Term Loan, 5.67%, Maturing February 10, 2012     906,433    
  Ardent Health Services, Inc.        
  570,688     Term Loan, 7.50%, Maturing August 12, 2011     571,401    
  Carl Zeiss Topco GMBH        
  196,667     Term Loan, 6.24%, Maturing March 22, 2013     197,650    
  393,333     Term Loan, 6.74%, Maturing March 21, 2014     396,283    
  375,000     Term Loan, 8.99%, Maturing September 22, 2014     381,094    
  Colgate Medical, Ltd.        
  276,136     Term Loan, 5.48%, Maturing December 30, 2008     279,070    
  Community Health Systems, Inc.        
  3,412,959     Term Loan, 5.07%, Maturing August 19, 2011     3,454,198    
  Concentra Operating Corp.        
  906,173     Term Loan, 6.01%, Maturing June 30, 2009     915,235    
  Conmed Corp.        
  953,220     Term Loan, 5.71%, Maturing December 31, 2009     963,795    
  Cross Country Healthcare, Inc.        
  302,318     Term Loan, 6.60%, Maturing June 5, 2009     304,585    
  Encore Medical IHC, Inc.        
  828,750     Term Loan, 6.34%, Maturing October 4, 2010     838,591    
  Envision Worldwide, Inc.        
  1,093,049     Term Loan, 8.13%, Maturing September 30, 2010     1,098,515    
  FHC Health Systems, Inc.        
  348,214     Term Loan, 8.91%, Maturing December 31, 2006     351,696    
  243,750     Term Loan, 11.91%, Maturing December 31, 2006     246,188    
  750,000     Term Loan, 12.29%, Maturing February 7, 2011     753,750    
  Hanger Orthopedic Group, Inc.        
  987,436     Term Loan, 6.99%, Maturing September 30, 2009     997,311    
  Healthcare Partners, LLC        
  202,438     Term Loan, 5.82%, Maturing March 2, 2011     203,893    

 

See notes to financial statements

9



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
  Healthcare (continued)        
Healthsouth Corp.  
$ 888,750     Term Loan, 5.82%, Maturing June 14, 2007   $ 900,415    
  246,250     Term Loan, 3.09%, Maturing March 21, 2010     249,482    
  Kinetic Concepts, Inc.        
  283,236     Term Loan, 5.24%, Maturing August 11, 2009     286,363    
  Knowledge Learning Corp.        
  2,115,630     Term Loan, 5.99%, Maturing January 7, 2012     2,130,615    
  Leiner Health Products, Inc.        
  529,650     Term Loan, 6.38%, Maturing May 27, 2011     536,933    
  Lifepoint Hospitals, Inc.        
  2,004,750     Term Loan, 4.85%, Maturing April 15, 2012     2,009,010    
  Magellan Health Services, Inc.        
  675,488     Term Loan, 5.86%, Maturing August 15, 2008     684,776    
  457,958     Term Loan, 6.06%, Maturing August 15, 2008     464,255    
  Medcath Holdings Corp.        
  247,500     Term Loan, 5.50%, Maturing July 2, 2011     250,284    
  National Mentor, Inc.        
  908,851     Term Loan, 5.73%, Maturing September 30, 2011     918,792    
  Select Medical Holding Corp.        
  773,062     Term Loan, 5.04%, Maturing February 24, 2012     775,271    
  Sunrise Medical Holdings, Inc.        
  491,505     Term Loan, 6.56%, Maturing May 13, 2010     492,119    
  Sybron Dental Management, Inc.        
  752,661     Term Loan, 5.11%, Maturing June 6, 2009     759,247    
  Talecris Biotherapeutics, Inc.        
  538,650     Term Loan, 6.54%, Maturing March 31, 2010     535,957    
  Team Health, Inc.        
  923,267     Term Loan, 6.24%, Maturing March 23, 2011     930,191    
  Vanguard Health Holding Co., LLC        
  1,650,025     Term Loan, 6.74%, Maturing September 23, 2011     1,677,869    
  VWR International, Inc.        
  617,850     Term Loan, 5.65%, Maturing April 7, 2011     623,546    
            $ 29,606,643    
  Home Furnishings - 3.0%        
General Binding Corp.  
$ 385,792     Term Loan, 7.64%, Maturing January 15, 2008   $ 386,515    
  Interline Brands, Inc.        
  1,528,878     Term Loan, 5.74%, Maturing December 31, 2010     1,547,989    
  Jarden Corp.        
  1,597,487     Term Loan, 5.47%, Maturing January 24, 2012     1,616,457    
  Juno Lighting, Inc.        
  377,224     Term Loan, 5.87%, Maturing November 21, 2010     379,111    
  Knoll, Inc.        
  1,495,176     Term Loan, 6.37%, Maturing September 30, 2011     1,519,473    

 

Principal
Amount
  Borrower/Tranche Description   Value  
Home Furnishings (continued)  
  Sealy Mattress Co.        
$ 1,306,726     Term Loan, 4.99%, Maturing April 6, 2012   $ 1,315,709    
Simmons Co.  
  1,945,717     Term Loan, 5.84%, Maturing December 19, 2011     1,957,067    
Termpur-Pedic, Inc.  
  980,000     Term Loan, 5.74%, Maturing June 30, 2009     987,963    
            $ 9,710,284    
Industrial Equipment - 2.8%  
  Alliance Laundry Holdings, LLC        
$ 273,000     Term Loan, 5.40%, Maturing January 27, 2012   $ 274,934    
Chart Industries, Inc.  
  1,059,132     Term Loan, 6.94%, Maturing September 15, 2009     1,061,780    
Colfax Corp.  
  599,357     Term Loan, 5.75%, Maturing November 30, 2011     604,102    
Flowserve Corp.  
  1,129,339     Term Loan, 6.22%, Maturing June 30, 2009     1,146,045    
Gleason Corp.  
  254,364     Term Loan, 6.03%, Maturing July 27, 2011     257,119    
  750,000     Term Loan, 10.00%, Maturing January 31, 2012     763,125    
Itron, Inc.  
  228,586     Term Loan, 5.05%, Maturing December 17, 2010     230,015    
Mainline, L.P.  
  795,111     Term Loan, 5.82%, Maturing December 17, 2011     799,087    
National Waterworks, Inc.  
  1,239,796     Term Loan, 5.99%, Maturing November 22, 2009     1,256,843    
Penn Engineering & Manufacturing Corp.  
  275,000     Term Loan, 5.97%, Maturing May 25, 2011     277,750    
Rexnord Corp.  
  1,575,521     Term Loan, 5.54%, Maturing December 31, 2011     1,589,307    
  520,000     Term Loan, 5.55%, Maturing December 31, 2011     524,550    
            $ 8,784,657    
Insurance - 3.1%  
  Alliant Resources Group, Inc.        
$ 990,000     Term Loan, 6.88%, Maturing August 31, 2011   $ 997,425    
CCC Information Services Group  
  1,033,811     Term Loan, 6.08%, Maturing August 20, 2010     1,046,733    
Conseco, Inc.  
  2,876,702     Term Loan, 6.83%, Maturing June 22, 2010     2,909,065    
Hilb, Rogal & Hobbs Co.  
  3,310,539     Term Loan, 5.75%, Maturing December 15, 2011     3,339,506    
U.S.I. Holdings Corp.  
  982,500     Term Loan, 5.69%, Maturing August 11, 2008     986,798    

 

See notes to financial statements

10



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
Insurance (continued)  
$ 668,325     Term Loan, 5.69%, Maturing August 11, 2008   $ 671,249    
            $ 9,950,776    
Leisure Goods / Activities / Movies - 7.5%  
  24 Hour Fitness Worldwide, Inc.        
$ 900,000     Term Loan, 6.19%, Maturing June 8, 2012   $ 914,625    
Alliance Atlantis Communications, Inc.  
  338,153     Term Loan, 5.05%, Maturing December 20, 2011     342,379    
AMF Bowling Worldwide, Inc.  
  349,172     Term Loan, 6.35%, Maturing August 27, 2009     351,464    
Cinemark, Inc.  
  1,975,000     Term Loan, 5.18%, Maturing March 31, 2011     2,004,625    
Fender Musical Instruments Co.  
  375,000     Term Loan, 7.71%, Maturing March 30, 2012     379,688    
Loews Cineplex Entertainment Corp.  
  2,073,007     Term Loan, 5.41%, Maturing July 30, 2011     2,083,588    
Metro-Goldwyn-Mayer Holdings  
  5,390,000     Term Loan, 5.74%, Maturing April 8, 2012     5,415,268    
Regal Cinemas Corp.  
  4,452,379     Term Loan, 5.24%, Maturing November 10, 2010     4,497,828    
Six Flags Theme Parks, Inc.  
  2,240,971     Term Loan, 5.95%, Maturing June 30, 2008     2,269,684    
  750,000     Revolving Loan, 6.05%, Maturing June 30, 2008(3)     737,500    
Universal City Development Partners, Ltd.  
  1,004,950     Term Loan, 5.23%, Maturing June 9, 2011     1,016,256    
WMG Acquisition Corp.  
  450,000     Revolving Loan, 0.00%, Maturing February 28, 2010(3)     441,563    
  3,620,344     Term Loan, 5.33%, Maturing February 28, 2011     3,647,496    
            $ 24,101,964    
Lodging and Casinos - 5.7%  
  Alliance Gaming Corp.        
$ 1,707,256     Term Loan, 6.77%, Maturing September 5, 2009   $ 1,710,191    
Ameristar Casinos, Inc.  
  273,406     Term Loan, 5.50%, Maturing December 20, 2006     276,938    
  1,092,876     Term Loan, 5.50%, Maturing December 31, 2006     1,106,993    
Argosy Gaming Co.  
  1,141,375     Term Loan, 5.08%, Maturing June 30, 2011     1,147,319    
CNL Hospitality Partners, L.P.  
  157,195     Term Loan, 5.68%, Maturing October 13, 2006     157,588    
CNL Resort Hotel, L.P.  
  850,000     Term Loan, 5.60%, Maturing August 18, 2006     852,125    
Globalcash Access, LLC  
  277,547     Term Loan, 5.58%, Maturing March 10, 2010     281,711    

 

Principal
Amount
  Borrower/Tranche Description   Value  
Lodging and Casinos (continued)  
  Isle of Capri Casinos, Inc.        
$ 1,208,925     Term Loan, 5.02%, Maturing February 2, 2011   $ 1,222,525    
Marina District Finance Co., Inc.  
  1,467,625     Term Loan, 4.99%, Maturing October 20, 2011     1,477,715    
MGM Mirage  
  1,571,429     Term Loan, 5.00%, Maturing April 25, 2010(3)     1,553,095    
  428,571     Term Loan, 5.13%, Maturing April 25, 2010     429,107    
Pinnacle Entertainment, Inc.  
  797,382     Term Loan, 0.00%, Maturing August 27, 2010(3)     799,127    
  735,000     Term Loan, 6.33%, Maturing August 27, 2010     746,944    
Resorts International Holdings, LLC  
  1,065,244     Term Loan, 5.83%, Maturing April 26, 2012     1,080,423    
  483,788     Term Loan, 5.83%, Maturing April 26, 2013     485,299    
Seminole Tribe of Florida  
  350,000     Term Loan, 5.38%, Maturing September 30, 2011     354,375    
Venetian Casino Resort, LLC  
  418,770     Term Loan, 0.00%, Maturing June 15, 2011(3)     422,434    
  2,031,035     Term Loan, 5.24%, Maturing June 15, 2011     2,053,703    
Wyndham International, Inc.  
  131,466     Term Loan, 3.25%, Maturing May 10, 2011     132,123    
  1,390,051     Term Loan, 6.50%, Maturing May 10, 2011     1,399,607    
Wynn Las Vegas, LLC  
  665,000     Term Loan, 5.47%, Maturing December 14, 2011     670,196    
            $ 18,359,538    
Nonferrous Metals / Minerals - 2.7%  
  Compass Minerals Group, Inc.        
$ 251,011     Term Loan, 5.92%, Maturing November 28, 2009   $ 253,730    
Foundation Coal Corp.  
  778,191     Term Loan, 5.54%, Maturing July 30, 2011     789,257    
ICG, LLC  
  472,625     Term Loan, 5.88%, Maturing November 5, 2010     479,321    
International Mill Service, Inc.  
  248,750     Term Loan, 5.83%, Maturing December 31, 2010     250,927    
  1,000,000     Term Loan, 9.08%, Maturing October 26, 2011     1,015,000    
Magnequench, Inc.  
  416,186     Term Loan, 10.71%, Maturing September 30, 2009     416,186    
  500,000     Term Loan, 14.21%, Maturing December 31, 2009     500,000    
Murray Energy Corp.  
  748,125     Term Loan, 6.33%, Maturing January 28, 2010     752,801    
Novelis, Inc.  
  601,442     Term Loan, 4.96%, Maturing January 6, 2012     608,820    
  1,042,788     Term Loan, 4.96%, Maturing January 6, 2012     1,055,579    
Stillwater Mining Co.  
  884,982     Term Loan, 6.63%, Maturing July 30, 2010     902,128    

 

See notes to financial statements

11



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
  Nonferrous Metals / Minerals (continued)        
Trout Coal Holdings, LLC  
$ 498,750     Term Loan, 5.97%, Maturing March 23, 2011   $ 499,062    
  1,000,000     Term Loan, 8.50%, Maturing March 23, 2012     1,004,375    
            $ 8,527,186    
  Oil and Gas - 6.4%        
Beldon & Blake Corp.  
$ 444,013     Term Loan, 5.94%, Maturing July 21, 2011   $ 445,123    
  Dresser Rand Group, Inc.        
  424,094     Term Loan, 5.45%, Maturing October 29, 2011     430,853    
  Dresser, Inc.        
  254,878     Term Loan, 5.99%, Maturing March 31, 2007     258,170    
  Dynegy Holdings, Inc.        
  2,623,500     Term Loan, 7.14%, Maturing May 28, 2010     2,639,897    
  El Paso Corp.        
  1,071,750     Term Loan, 5.27%, Maturing November 23, 2009     1,079,788    
  2,260,799     Term Loan, 6.13%, Maturing November 23, 2009     2,279,168    
  Getty Petroleum Marketing, Inc.        
  1,488,766     Term Loan, 6.33%, Maturing May 19, 2010     1,511,097    
  Kerr-McGee Corp.        
  1,265,000     Term Loan, 5.55%, Maturing May 24, 2007     1,274,646    
  2,300,000     Term Loan, 5.79%, Maturing May 24, 2011     2,338,173    
  LB Pacific, L.P.        
  543,477     Term Loan, 6.15%, Maturing March 3, 2012     549,251    
  Lyondell-Citgo Refining, L.P.        
  940,500     Term Loan, 5.51%, Maturing May 21, 2007     955,195    
  Sprague Energy Corp.        
  1,000,000     Revolving Loan, 5.07%, Maturing August 10, 2007(3)     997,500    
  The Premcor Refining Group, Inc.        
  2,000,000     Term Loan, 4.88%, Maturing April 13, 2009     2,013,750    
  Universal Compression, Inc.        
  555,000     Term Loan, 5.24%, Maturing February 15, 2012(3)     562,718    
  Williams Production RMT Co.        
  2,945,162     Term Loan, 5.49%, Maturing May 30, 2008     2,978,295    
            $ 20,313,624    
  Publishing - 7.2%        
American Media Operations, Inc.  
$ 96,096     Term Loan, 6.13%, Maturing April 1, 2006   $ 95,976    
  1,095,827     Term Loan, 5.88%, Maturing April 1, 2007     1,109,525    
  871,639     Term Loan, 5.88%, Maturing April 1, 2008     882,535    
  CBD Media, LLC        
  490,196     Term Loan, 5.63%, Maturing December 31, 2009     496,936    
  Dex Media East, LLC        
  1,597,033     Term Loan, 4.98%, Maturing May 8, 2009     1,613,503    

 

Principal
Amount
  Borrower/Tranche Description   Value  
Publishing (continued)  
  Dex Media West, LLC        
$ 2,037,732     Term Loan, 4.93%, Maturing March 9, 2010   $ 2,058,109    
Freedom Communications Holdings, Inc.  
  623,059     Term Loan, 4.83%, Maturing May 18, 2012     625,473    
Herald Media, Inc.  
  148,500     Term Loan, 5.56%, Maturing July 22, 2011     150,681    
  500,000     Term Loan, 8.99%, Maturing January 22, 2012     506,407    
Lamar Media Corp.  
  2,487,500     Term Loan, 4.88%, Maturing June 30, 2010     2,517,039    
Liberty Group Operating, Inc.  
  714,148     Term Loan, 5.44%, Maturing February 28, 2012     718,909    
Merrill Communications, LLC  
  694,848     Term Loan, 5.83%, Maturing February 9, 2009     700,928    
Morris Publishing Group, LLC  
  780,000     Term Loan, 5.00%, Maturing September 30, 2010     788,044    
  1,194,000     Term Loan, 5.25%, Maturing March 31, 2011     1,205,940    
Nebraska Book Co., Inc.  
  478,938     Term Loan, 5.88%, Maturing March 4, 2011     485,523    
R.H. Donnelley Corp.  
  119,885     Term Loan, 5.15%, Maturing December 31, 2009     120,941    
  2,793,153     Term Loan, 5.14%, Maturing June 30, 2011     2,824,285    
Source Media, Inc.  
  240,941     Term Loan, 5.74%, Maturing August 30, 2012     244,405    
  250,000     Term Loan, 8.87%, Maturing August 30, 2012     254,141    
SP Newsprint Co.  
  969,921     Term Loan, 5.51%, Maturing January 9, 2010     977,802    
  412,217     Term Loan, 5.58%, Maturing January 9, 2010     417,627    
Sun Media Corp.  
  2,389,212     Term Loan, 5.19%, Maturing February 7, 2009     2,419,077    
Transwestern Publishing Co., LLC  
  386,325     Term Loan, 5.57%, Maturing February 25, 2011     388,317    
  790,002     Term Loan, 7.50%, Maturing February 25, 2011     798,890    
Weekly Reader Corp.  
  750,000     Term Loan, 10.25%, Maturing March 29, 2009     751,406    
            $ 23,152,419    
Radio and Television - 5.3%  
  Adams Outdoor Advertising, L.P.        
$ 997,500     Term Loan, 5.15%, Maturing November 18, 2012   $ 1,011,423    
ALM Media Holdings, Inc.  
  832,912     Term Loan, 5.99%, Maturing March 5, 2010     834,995    
Block Communications, Inc.  
  922,838     Term Loan, 5.74%, Maturing November 30, 2009     931,490    
CanWest Media, Inc.  
  1,780,016     Term Loan, 5.47%, Maturing August 15, 2009     1,799,299    

 

See notes to financial statements

12



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
  Radio and Television (continued)        
DirecTV Holdings, LLC  
$ 2,086,667     Term Loan, 4.74%, Maturing April 13, 2013   $ 2,096,449    
  NEP Supershooters, L.P.        
  539,177     Term Loan, 11.48%, Maturing August 3, 2011     533,785    
  Nexstar Broadcasting, Inc.        
  980,255     Term Loan, 5.24%, Maturing October 1, 2012     986,585    
  1,034,745     Term Loan, 5.24%, Maturing October 1, 2012     1,042,721    
  PanAmSat Corp.        
  2,719,273     Term Loan, 5.65%, Maturing August 20, 2011     2,765,093    
  Raycom TV Broadcasting, Inc.        
  1,200,000     Term Loan, 5.50%, Maturing February 24, 2012     1,208,250    
  Spanish Broadcasting System        
  700,000     Term Loan, 7.03%, Maturing June 10, 2013     711,813    
  Susquehanna Media Co.        
  2,643,375     Term Loan, 5.27%, Maturing March 9, 2012     2,678,069    
  Young Broadcasting, Inc.        
  390,000     Term Loan, 5.64%, Maturing November 3, 2012     393,981    
            $ 16,993,953    
  Rail Industries - 0.4%        
Kansas City Southern Railway Co.  
$ 368,150     Term Loan, 5.16%, Maturing March 30, 2008   $ 373,327    
  Railamerica, Inc.        
  682,348     Term Loan, 5.56%, Maturing September 29, 2011     692,299    
  80,661     Term Loan, 5.56%, Maturing September 29, 2011     81,837    
            $ 1,147,463    
  Retailers (Except Food and Drug) - 5.3%        
American Achievement Corp.  
$ 314,143     Term Loan, 6.00%, Maturing March 25, 2011   $ 316,499    
  Amscan Holdings, Inc.        
  495,000     Term Loan, 5.66%, Maturing April 30, 2012     500,569    
  Coinmach Laundry Corp.        
  3,762,030     Term Loan, 6.33%, Maturing July 25, 2009     3,811,407    
  CSK Auto, Inc.        
  1,970,000     Term Loan, 4.85%, Maturing June 20, 2009     1,990,931    
  FTD, Inc.        
  405,663     Term Loan, 5.74%, Maturing February 28, 2011     410,227    
  Harbor Freight Tools USA, Inc.        
  992,502     Term Loan, 5.78%, Maturing July 15, 2010     998,084    
  Home Interiors & Gifts, Inc.        
  673,720     Term Loan, 8.38%, Maturing March 31, 2011     618,699    
  Josten's Corp.        
  2,347,400     Term Loan, 5.39%, Maturing October 4, 2010     2,383,590    

 

Principal
Amount
  Borrower/Tranche Description   Value  
Retailers (Except Food and Drug) (continued)  
  Mapco Express, Inc.        
$ 327,000     Term Loan, 6.21%, Maturing April 28, 2011   $ 331,905    
Movie Gallery, Inc.  
  570,000     Term Loan, 6.14%, Maturing April 27, 2011     576,840    
Musicland Group, Inc.  
  1,000,000     Revolving Loan, 7.50%, Maturing August 11, 2008(3)     1,002,500    
Oriental Trading Co., Inc.  
  1,780,033     Term Loan, 6.00%, Maturing August 4, 2010     1,791,159    
Rent-A-Center, Inc.  
  1,278,440     Term Loan, 5.35%, Maturing June 30, 2010     1,291,703    
Savers, Inc.  
  364,225     Term Loan, 6.26%, Maturing August 4, 2009     366,956    
  500,000     Term Loan, 10.48%, Maturing August 4, 2010     508,750    
            $ 16,899,819    
Surface Transport - 0.8%  
  Horizon Lines, LLC        
$ 247,500     Term Loan, 5.99%, Maturing July 7, 2011   $ 251,006    
NFIL Holdings Corp.  
  328,188     Term Loan, 4.08%, Maturing February 27, 2010     331,880    
  835,280     Term Loan, 5.34%, Maturing February 27, 2010     845,199    
Sirva Worldwide, Inc.  
  1,197,059     Term Loan, 5.63%, Maturing December 1, 2010     1,130,721    
            $ 2,558,806    
Telecommunications - 6.8%  
  Alaska Communications Systems Holdings, Inc.        
$ 530,000     Term Loan, 5.49%, Maturing February 1, 2011   $ 534,704    
American Tower, L.P.  
  1,132,163     Term Loan, 5.21%, Maturing August 31, 2011     1,143,249    
Cellular South, Inc.  
  346,500     Term Loan, 5.34%, Maturing May 4, 2011     349,748    
Centennial Cellular Operating Co., LLC  
  1,975,000     Term Loan, 5.68%, Maturing February 9, 2011     2,004,625    
Consolidated Communications, Inc.  
  1,482,902     Term Loan, 5.80%, Maturing October 14, 2011     1,493,096    
D&E Communications, Inc.  
  467,825     Term Loan, 5.33%, Maturing December 31, 2011     471,334    
Fairpoint Communications, Inc.  
  1,130,000     Term Loan, 5.55%, Maturing February 8, 2012     1,144,125    
Hawaiian Telcom Communications, Inc.  
  400,000     Term Loan, 5.73%, Maturing October 31, 2012     404,625    
Iowa Telecommunications Services, Inc.  
  334,000     Term Loan, 5.50%, Maturing November 23, 2011     337,653    

 

See notes to financial statements

13



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal
Amount
  Borrower/Tranche Description   Value  
Telecommunications (continued)  
  Metrocall, Inc. & Arch Wireless Operating        
$ 73,632     Term Loan, 5.76%, Maturing November 16, 2006   $ 74,184    
NTelos, Inc.  
  1,144,250     Term Loan, 5.83%, Maturing February 18, 2011     1,143,178    
Qwest Corp.  
  2,000,000     Term Loan, 7.93%, Maturing June 4, 2007     2,062,812    
SBA Senior Finance, Inc.  
  1,951,639     Term Loan, 5.55%, Maturing October 31, 2008     1,979,288    
Spectrasite Communications, Inc.  
  1,219,870     Term Loan, 4.91%, Maturing May 19, 2012     1,225,080    
Stratos Global Corp.  
  805,000     Term Loan, 5.74%, Maturing December 3, 2011     812,799    
Triton PCS, Inc.  
  825,850     Term Loan, 6.58%, Maturing November 18, 2009     829,257    
Valor Telecom Enterprise, LLC  
  1,220,100     Term Loan, 5.39%, Maturing February 14, 2012     1,236,876    
Westcom Corp.  
  463,867     Term Loan, 6.08%, Maturing December 17, 2010     467,346    
  600,000     Term Loan, 10.24%, Maturing May 17, 2011     612,375    
Western Wireless Corp.  
  3,326,119     Term Loan, 6.19%, Maturing May 28, 2011     3,338,592    
Winstar Communications, Inc.  
  169,348     DIP Loan, 0.00%, Maturing December 31, 2005(2)(4)     62,218    
            $ 21,727,164    
Utilities - 3.3%  
  Allegheny Energy Supply Co., LLC        
$ 1,759,052     Term Loan, 5.84%, Maturing October 28, 2011   $ 1,768,507    
Cogentrix Deleware Holdings, Inc.  
  933,249     Term Loan, 5.24%, Maturing January 14, 2012     940,054    
Covanta Energy Corp.  
  561,138     Term Loan, 3.36%, Maturing June 24, 2012     566,750    
  453,862     Term Loan, 6.46%, Maturing June 24, 2012     458,400    
  350,000     Term Loan, 8.88%, Maturing June 24, 2013     353,500    
KGen, LLC  
  478,800     Term Loan, 6.12%, Maturing August 5, 2011     471,618    
NRG Energy, Inc.  
  865,427     Term Loan, 3.39%, Maturing December 24, 2011     873,811    
  1,095,210     Term Loan, 5.37%, Maturing December 24, 2011     1,105,821    
Pike Electric, Inc.  
  260,000     Term Loan, 5.44%, Maturing July 1, 2012     263,250    
  444,000     Term Loan, 5.50%, Maturing July 1, 2012     450,660    
Plains Resources, Inc.  
  1,001,653     Term Loan, 5.33%, Maturing December 17, 2010     1,012,921    

 

Principal
Amount
  Borrower/Tranche Description   Value  
Utilities (continued)  
  Reliant Energy, Inc.        
$ 761,838     Term Loan, 6.06%, Maturing December 22, 2010   $ 769,592    
Texas Genco, LLC  
  1,147,161     Term Loan, 5.41%, Maturing December 14, 2011     1,164,966    
  476,208     Term Loan, 5.41%, Maturing December 14, 2011(3)     483,599    
            $ 10,683,449    
    Total Senior Floating Rate Interests
(identified cost $467,723,442)
  $ 470,194,249    
Corporate Bonds & Notes - 16.5%  
Principal Amount
(000's omitted)
  Security   Value  
Aerospace and Defense - 0.2%  
  Argo Tech Corp., Sr. Notes        
$ 300     9.25%, 6/1/11   $ 327,000    
BE Aerospace, Sr. Sub. Notes, Series B  
  35     8.00%, 3/1/08     35,175    
Sequa Corp.  
  300     8.875%, 4/1/08     325,500    
Standard Aero Holdings, Inc., Sr. Sub. Notes  
  15     8.25%, 9/1/14(5)     15,900    
            $ 703,575    
Air Transport - 0.4%  
  American Airlines        
$ 895     7.80%, 10/1/06   $ 851,097    
  15     8.608%, 4/1/11     14,074    
  20     7.858%, 10/1/11     21,137    
Continental Airlines  
  257     7.033%, 6/15/11     216,235    
Delta Air Lines  
  6     7.779%, 11/18/05     5,228    
  69     9.50%, 11/18/08(5)     56,580    
Northwest Airlines, Inc.  
  25     8.875%, 6/1/06     16,000    
            $ 1,180,351    
Automotive - 0.5%  
  Altra Industrial Motion, Inc.        
$ 35     9.00%, 12/1/11(5)   $ 33,250    
Commercial Vehicle Group, Inc., Sr. Notes  
  55     8.00%, 7/1/13(5)     56,237    

 

See notes to financial statements

14



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount
(000's omitted)
  Security   Value  
Automotive (continued)  
  Delphi Corp.        
$ 185     6.55%, 6/15/06   $ 180,837    
Keystone Automotive Operations, Inc., Sr. Sub. Notes  
  470     9.75%, 11/1/13     467,650    
Metaldyne Corp., Sr. Notes  
  105     10.00%, 11/1/13(5)     86,625    
Neff Rental/Neff Finance  
  145     11.25%, 6/15/12     145,000    
Tenneco Automotive, Inc.  
  140     8.625%, 11/15/14     141,400    
Tenneco Automotive, Inc., Series B  
  230     10.25%, 7/15/13     261,050    
TRW Automotive, Inc., Sr. Sub. Notes  
  65     11.00%, 2/15/13     75,075    
United Components, Inc., Sr. Sub. Notes  
  65     9.375%, 6/15/13     65,812    
Visteon Corp., Sr. Notes  
  95     8.25%, 8/1/10     88,350    
            $ 1,601,286    
Building and Development - 0.3%  
  Coleman Cable, Inc., Sr. Notes        
$ 60     9.875%, 10/1/12(5)   $ 53,700    
MAAX Corp., Sr. Sub. Notes  
  65     9.75%, 6/15/12     57,687    
Mueller Group, Inc., Sr. Sub. Notes  
  185     10.00%, 5/1/12     195,175    
Mueller Holdings, Inc., Disc. Notes  
  160     14.75%, 4/15/14     117,600    
Nortek, Inc., Sr. Sub Notes  
  185     8.50%, 9/1/14     172,975    
Ply Gem Industries, Inc., Sr. Sub. Notes  
  120     9.00%, 2/15/12     102,000    
RMCC Acquisition Co., Sr. Sub. Notes  
  180     9.50%, 11/1/12(5)     172,800    
Texas Industries, Inc.,Sr. Notes  
  20     7.25%, 7/15/13(5)     20,600    
            $ 892,537    
Business Equipment and Services - 0.2%  
  Hydrochem Industrial Services, Inc., Sr. Sub Notes        
$ 40     9.25%, 2/15/13(5)   $ 37,200    
Norcross Safety Products LLC/Norcross Capital Corp., Sr. Sub. Notes, Series B  
  160     9.875%, 8/15/11     168,000    

 

Principal Amount
(000's omitted)
  Security   Value  
  Business Equipment and Services (continued)        
NSP Holdings/NSP Holdings Capital Corp., Sr. Notes (PIK)  
$ 25     11.75%, 1/1/12   $ 27,375    
  Quintiles Transnational Corp., Sr. Sub. Notes        
  260     10.00%, 10/1/13     286,000    
  Safety Products Holdings, Sr. Notes (PIK)        
  45     11.75%, 1/1/12(5)     43,087    
  Williams Scotsman, Inc., Sr. Notes        
  50     10.00%, 8/15/08     55,256    
            $ 616,918    
  Cable and Satellite Television - 0.5%        
Adelphia Communications, Sr. Notes, Series B  
$ 270     9.25%, 10/1/32(2)   $ 233,550    
  Charter Communication Holdings/Charter Capital Broadcasting, Sr. Notes        
  125     11.125%, 1/15/11     94,062    
  Charter Communications Holdings II, LLC, Sr. Notes        
  285     10.25%, 9/15/10     289,631    
  Charter Communications Holdings, LLC, Sr. Notes        
  85     10.25%, 1/15/10     63,537    
  Ono Finance PLC, Sr. Notes        
  45     14.00%, 2/15/11     50,737    
  PanAmSat Corp.        
  101     9.00%, 8/15/14     110,721    
  UGS Corp.        
  575     10.00%, 6/1/12     641,125    
            $ 1,483,363    
  Chemicals and Plastics - 0.9%        
Avecia Group PLC  
$ 25     11.00%, 7/1/09   $ 25,594    
  BCP Crystal Holdings Corp., Sr. Sub Notes        
  172     9.625%, 6/15/14     193,500    
  Borden U.S. Finance/Nova Scotia Finance, Sr. Notes        
  95     9.00%, 7/15/14(5)     97,137    
  Crystal US Holdings/US Holdings 3, LLC, Sr. Disc. Notes, Series B        
  179     0.00%, 10/1/14     125,300    
  Equistar Chemical, Sr. Notes        
  110     10.625%, 5/1/11     121,962    
  Hercules, Inc.        
  30     11.125%, 11/15/07     34,012    
  Huntsman International, LLC, Sr. Notes        
  80     9.875%, 3/1/09     86,000    
  Huntsman, LLC        
  91     11.625%, 10/15/10     107,039    

 

See notes to financial statements

15



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount
(000's omitted)
  Security   Value  
  Chemicals and Plastics (continued)        
Innophos, Inc., Sr. Sub. Notes  
$ 40     8.875%, 8/15/14(5)   $ 41,000    
  Key Plastics, LLC, Jr. Sub. Notes        
  74     18.32%, 4/26/07(4)     74,994    
  Key Plastics, LLC, Sr. Sub. Notes        
  118     7.00%, 4/26/07(4)     118,607    
  Lyondell Chemical Co., Sr. Notes        
  192     10.50%, 6/1/13     220,560    
  Milacron Escrow Corp.        
  315     11.50%, 5/15/11     332,325    
  Nalco Co., Sr. Sub. Notes        
  100     8.875%, 11/15/13     107,750    
  OM Group, Inc.        
  460     9.25%, 12/15/11     462,300    
  Polyone Corp., Sr. Notes        
  130     10.625%, 5/15/10     138,125    
  Polypore, Inc., Sr. Sub Notes        
  15     8.75%, 5/15/12     14,100    
  Rhodia SA, Sr. Notes        
  410     10.25%, 6/1/10     441,775    
  Solo Cup Co., Sr. Sub. Notes        
  115     8.50%, 2/15/14     108,100    
            $ 2,850,180    
  Clothing / Textiles - 0.4%        
GFSI, Inc., Sr. Sub. Notes, Series B  
$ 60     9.625%, 3/1/07   $ 54,900    
  Levi Strauss & Co., Sr. Notes        
  200     12.25%, 12/15/12     219,500    
  125     9.75%, 1/15/15     124,687    
  Levi Strauss & Co., Sr. Notes, Variable Rate        
  100     7.73%, 4/1/12     95,000    
  Oxford Industries, Inc., Sr. Notes        
  250     8.875%, 6/1/11     268,750    
  Perry Ellis International, Inc., Sr. Sub. Notes        
  100     8.875%, 9/15/13     100,500    
  Phillips Van-Heusen, Sr. Notes        
  40     7.25%, 2/15/11     42,200    
  100     8.125%, 5/1/13     108,750    
  William Carter, Series B        
  104     10.875%, 8/15/11     117,017    
            $ 1,131,304    

 

Principal Amount
(000's omitted)
  Security   Value  
Commercial Services - 0.1%  
  Affinity Group, Inc., Sr. Sub. Notes        
$ 220     9.00%, 2/15/12   $ 223,850    
            $ 223,850    
Conglomerates - 0.2%  
  Amsted Industries, Inc., Sr. Notes        
$ 500     10.25%, 10/15/11(5)   $ 542,500    
Rexnord Corp.  
  45     10.125%, 12/15/12     49,500    
            $ 592,000    
Consumer Products - 0.1%  
  Fedders North America, Inc.        
$ 95     9.875%, 3/1/14   $ 62,225    
Samsonite Corp., Sr. Sub. Notes  
  195     8.875%, 6/1/11     208,162    
            $ 270,387    
Containers and Glass Products - 0.3%  
  Crown Euro Holdings SA        
$ 65     9.50%, 3/1/11   $ 72,150    
  340     10.875%, 3/1/13     401,200    
Intertape Polymer US, Inc., Sr. Sub. Notes  
  180     8.50%, 8/1/14     179,274    
Pliant Corp.  
  65     11.125%, 9/1/09     63,700    
Pliant Corp. (PIK)  
  81     11.625%, 6/15/09(5)     86,906    
Stone Container Corp., Sr. Notes  
  143     9.25%, 2/1/08     150,150    
            $ 953,380    
Ecological Services and Equipment - 0.2%  
  Aleris International, Inc.        
$ 55     10.375%, 10/15/10   $ 60,637    
  87     9.00%, 11/15/14     90,480    
Allied Waste North America, Series B  
  165     8.875%, 4/1/08     174,075    
National Waterworks, Inc., Series B  
  115     10.50%, 12/1/12     129,950    
Waste Services, Inc., Sr. Sub. Notes  
  220     9.50%, 4/15/14(5)     218,900    
            $ 674,042    

 

See notes to financial statements

16



Eaton Vance Senior Income Trust as of June 30, 2005

PORTFOLIO OF INVESTMENTS CONT'D

Principal Amount
(000's omitted)
  Security   Value  
  Electronics / Electrical - 0.0%        
CPI HoldCo, Inc., Sr. Notes, Variable Rate  
$ 50     8.83%, 2/1/15   $ 49,274    
  Danka Business Systems, Sr. Notes        
  25     11.00%, 6/15/10     20,125    
            $ 69,399    
  Entertainment - 0.2%        
AMC Entertainment, Inc., Sr. Sub. Notes  
$ 115     9.875%, 2/1/12   $ 114,712    
  LCE Acquisition Corp., Sr. Sub. Notes        
  390     9.00%, 8/1/14(5)     379,275    
  Royal Caribbean Cruises, Sr. Notes        
  135     8.75%, 2/2/11     156,262    
            $ 650,249    
  Equipment Leasing - 0.1%        
Greenbrier Companies, Inc. (The), Sr. Notes  
$ 200     8.375%, 5/15/15(5)   $ 204,500    
  United Rentals North America, Inc.        
  40     6.50%, 2/15/12     39,550    
  United Rentals North America, Inc., Sr. Sub. Notes        
  180     7.00%, 2/15/14     172,350    
            $ 416,400    
  Financial Intermediaries - 1.8%        
Alzette, Variable Rate  
$ 500     8.691%, 12/15/20   $ 505,000    
  Avalon Capital Ltd. 3, Series 1A, Class D, Variable Rate        
  380     5.24%, 2/24/19(5)     380,000    
  Babson Ltd., Series 2005-1A, Class C1, Variable Rate        
  500     5.315%, 4/15/19(5)     500,000    
  Bryant Park CDO Ltd., Series 2005-1A, Class C, Variable Rate        
  500     4.941%, 1/15/19(5)     500,000    
  Carlyle High Yield Partners, Series 2004-6A, Class C, Variable Rate        
  500     5.224%, 8/11/16(5)     500,000    
  Centurion CDO 8 Ltd., Series 2005 8A, Class D, Variable Rate        
  500     8.297%, 3/8/17(4)     500,000    
  Centurion CDO 9 Ltd., Series 2005-9A(4)        
  500     0.00%, 7/17/19     500,000    
  Dana Credit Corp.        
  50     8.375%, 8/15/07(5)     51,219    
  E*Trade Financial Corp., Sr. Notes        
  160     8.00%, 6/15/11     169,200    

 

Principal Amount
(000's omitted)
  Security   Value  
  Financial Intermediaries (continued)        
Ford Motor Credit Co.  
$ 570     7.875%, 6/15/10   $ 563,842    
  General Motors Acceptance Corp.        
  25     6.125%, 9/15/06     25,025    
  260     7.25%, 3/2/11     244,070    
  210     7.00%, 2/1/12     193,829    
  Refco Finance Holdings        
  365     9.00%, 8/1/12     388,725    
  Residential Capital Corp.        
  85     6.875%, 6/30/15(5)     87,028    
  Stanfield Vantage Ltd., Series 2005-1A, Class D, Variable Rate        
  500     5.337%, 3/21/17(5)     500,000    
            $ 5,607,938    
  Food Products - 0.7%        
American Seafood Group, LLC  
$ 415     10.125%, 4/15/10   $ 445,087    
  ASG Consolidated, LLC/ASG Finance, Inc., Sr. Disc. Notes        
  220     0.00%, 11/1/11     158,950    
  Pierre Foods, Inc., Sr. Sub. Notes        
  175     9.875%, 7/15/12     181,562    
  Pinnacle Foods Holdings Corp., Sr. Sub. Notes        
  1,080     8.25%, 12/1/13     972,000    
  UAP Holding Corp., Sr. Disc. Notes        
  265     10.75%, 7/15/12     218,625    
  United Agricultural Products, Sr. Notes        
  50     8.25%, 12/15/11     52,000    
  WH Holdings Ltd./WH Capital Corp., Sr. Notes        
  42     9.50%, 4/1/11