Eaton Vance Series Trust Ii N-CSRS Certified semi-annual shareholder report (management investment company)

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: 811-02258

Eaton Vance Series Trust II

(Exact Name of Registrant as Specified in Charter)

Two International Place, Boston, Massachusetts 02110

(Address of Principal Executive Offices)

Maureen A. Gemma

Two International Place, Boston, Massachusetts 02110

(Name and Address of Agent for Services)

(617) 482-8260

(Registrant’s Telephone Number)

October 31

Date of Fiscal Year End

April 30, 2017

Date of Reporting Period

Item 1. Reports to Stockholders

Eaton Vance

Income Fund of Boston

Semiannual Report

April 30, 2017

Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain regulatory changes that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. The Fund has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act. Accordingly, neither the Fund nor the adviser with respect to the operation of the Fund is subject to CFTC regulation. Because of its management of other strategies, the Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor.

Fund shares 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.

This report must be preceded or accompanied by a current summary prospectus or prospectus. Before investing, investors should consider carefully the investment objective, risks, and charges and expenses of a mutual fund. This and other important information is contained in the summary prospectus and prospectus, which can be obtained from a financial advisor. Prospective investors should read the prospectus carefully before investing. For further information, please call 1-800-262-1122.

Semiannual Report April 30, 2017

Eaton Vance

Income Fund of Boston

Table of Contents

Performance	2
Fund Profile	2
Endnotes and Additional Disclosures	3
Fund Expenses	4
Financial Statements	5
Board of Trustees’ Contract Approval	41
Officers and Trustees	45
Important Notices	46

Eaton Vance

Income Fund of Boston

April 30, 2017

Performance^1,2

Portfolio Managers Michael W. Weilheimer, CFA and Stephen C. Concannon, CFA

% Average Annual Total Returns	Class Inception Date			Performance Inception Date			Six Months			One Year			Five Years			Ten Years
Class A at NAV		06/15/1972			06/15/1972			4.79	%		10.26	%		6.11	%		6.28	%
Class A with 4.75% Maximum Sales Charge		—			—			–0.12			4.99			5.08			5.77
Class B at NAV		06/20/2002			06/15/1972			4.40			9.24			5.32			5.50
Class B with 5% Maximum Sales Charge		—			—			–0.60			4.24			4.99			5.50
Class C at NAV		06/21/2002			06/15/1972			4.22			9.24			5.28			5.50
Class C with 1% Maximum Sales Charge		—			—			3.22			8.24			5.28			5.50
Class I at NAV		07/01/1999			06/15/1972			4.91			10.52			6.37			6.57
Class R at NAV		01/05/2004			06/15/1972			4.66			9.98			5.84			6.03
Class R6 at NAV		07/01/2014			06/15/1972			4.96			10.42			6.42			6.59
BofA Merrill Lynch U.S. High Yield Index		—			—			5.50	%		13.66	%		6.87	%		7.32	%
BofA Merrill Lynch U.S. High Yield Constrained Index		—			—			5.49			13.65			6.87			7.40
% Total Annual Operating Expense Ratios3	Class A			Class B			Class C			Class I			Class R			Class R6
		0.99	%		1.75	%		1.74	%		0.74	%		1.24	%		0.66	%

Fund Profile⁴

Credit Quality (% of bonds, loans and mortgage-backed securities)⁵

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or offering 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 less than or equal to one year is cumulative. Performance is for the stated time period only; due to market volatility, the Fund’s current performance may be lower or higher than quoted. Returns are before taxes unless otherwise noted. For performance as of the most recent month-end, please refer to eatonvance.com.

2

Eaton Vance

Income Fund of Boston

April 30, 2017

Endnotes and Additional Disclosures

¹  BofA Merrill Lynch U.S. High Yield Index is an unmanaged index of below-investment grade U.S. corporate bonds. BofA Merrill Lynch U.S. High Yield Constrained Index is an unmanaged index of below-investment grade U.S. corporate bonds, with issuer exposure capped at 2%. BofA Merrill Lynch^® indices not for redistribution or other uses; provided “as is”, without warranties, and with no liability. Eaton Vance has prepared this report, BofAML does not endorse it, or guarantee, review, or endorse Eaton Vance’s products. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

²  Total Returns at NAV do not include applicable sales charges. If sales charges were deducted, the returns would be lower. Total Returns shown with maximum sales charge reflect the stated maximum sales charge. Unless otherwise stated, performance does not reflect the deduction of taxes on Fund distributions or redemptions of Fund shares.

Performance prior to the inception date of a class may be linked to the performance of an older class of the Fund. This linked performance is adjusted for any applicable sales charge, but is not adjusted for class expense differences. If adjusted for such differences, the performance would be different. Performance presented in the financial highlights included in the financial statements is not linked. In the performance table, the performance of Class R6 is linked to Class I. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

³  Source: Fund prospectus. The expense ratios for the current reporting period can be found in the Financial Highlights section of this report.

⁴  Fund invests in an affiliated investment company (Portfolio) with the same objective(s) and policies as the Fund. References to investments are to the Portfolio’s holdings.

⁵  Credit ratings are categorized using S&P. If S&P does not publish a rating, then the Moody’s rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P or Baa or higher by Moody’s are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of the volatility of a security’s market value or of the liquidity of an investment in the security. Holdings designated as “Not Rated” are not rated by the national ratings agencies stated above.

Fund profile subject to change due to active management.

3

Eaton Vance

Income Fund of Boston

April 30, 2017

Fund Expenses

Example:  As a Fund shareholder, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases and redemption fees (if applicable); and (2) ongoing costs, including management fees; distribution and/or service fees; and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of Fund investing and to compare these costs with the ongoing costs of investing in other mutual funds. The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2016 – April 30, 2017).

Actual Expenses:  The first section of the table below provides information about actual account values and actual expenses. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first section under the heading entitled “Expenses Paid During Period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes:  The second section of the table below provides information about hypothetical account values and hypothetical expenses based on the actual Fund expense ratio and an assumed rate of return of 5% per year (before expenses), which is not the actual Fund return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads) or redemption fees (if applicable). Therefore, the second section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

	Beginning Account Value (11/1/16)		Ending Account Value (4/30/17)		Expenses Paid During Period* (11/1/16 – 4/30/17)		Annualized Expense Ratio
Actual
Class A	$	1,000.00	$	1,047.90	$	5.13		1.01	%
Class B	$	1,000.00	$	1,044.00	$	8.92		1.76	%
Class C	$	1,000.00	$	1,042.20	$	8.91		1.76	%
Class I	$	1,000.00	$	1,049.10	$	3.86		0.76	%
Class R	$	1,000.00	$	1,046.60	$	6.39		1.26	%
Class R6	$	1,000.00	$	1,049.60	$	3.40		0.67	%
Hypothetical
(5% return per year before expenses)
Class A	$	1,000.00	$	1,019.80	$	5.06		1.01	%
Class B	$	1,000.00	$	1,016.10	$	8.80		1.76	%
Class C	$	1,000.00	$	1,016.10	$	8.80		1.76	%
Class I	$	1,000.00	$	1,021.00	$	3.81		0.76	%
Class R	$	1,000.00	$	1,018.50	$	6.31		1.26	%
Class R6	$	1,000.00	$	1,021.50	$	3.36		0.67	%

* Expenses are equal to the Fund’s annualized expense ratio for the indicated Class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). The Example assumes that the $1,000 was invested at the net asset value per share determined at the close of business on October 31, 2016. The Example reflects the expenses of both the Fund and the Portfolio.

4

Eaton Vance

Income Fund of Boston

April 30, 2017

Statement of Assets and Liabilities (Unaudited)

Assets	April 30, 2017
Investment in Boston Income Portfolio, at value (identified cost, $6,040,597,499)	$	6,250,785,620
Receivable for Fund shares sold		13,111,808
Total assets	$	6,263,897,428
Liabilities
Payable for Fund shares redeemed	$	34,952,814
Distributions payable		1,502,837
Payable to affiliates:
Distribution and service fees		496,430
Trustees’ fees		42
Accrued expenses		1,625,724
Total liabilities	$	38,577,847
Net Assets	$	6,225,319,581
Sources of Net Assets
Paid-in capital	$	6,236,738,641
Accumulated net realized loss from Portfolio		(205,657,488	)
Accumulated distributions in excess of net investment income		(15,949,693	)
Net unrealized appreciation from Portfolio		210,188,121
Total	$	6,225,319,581
Class A Shares
Net Assets	$	1,226,811,155
Shares Outstanding		211,324,373
Net Asset Value and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	5.81
Maximum Offering Price Per Share
(100 ÷ 95.25 of net asset value per share)	$	6.10
Class B Shares
Net Assets	$	11,485,687
Shares Outstanding		1,977,099
Net Asset Value and Offering Price Per Share*
(net assets ÷ shares of beneficial interest outstanding)	$	5.81
Class C Shares
Net Assets	$	250,005,434
Shares Outstanding		43,001,083
Net Asset Value and Offering Price Per Share*
(net assets ÷ shares of beneficial interest outstanding)	$	5.81
Class I Shares
Net Assets	$	4,571,019,407
Shares Outstanding		786,959,663
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	5.81
Class R Shares
Net Assets	$	45,638,413
Shares Outstanding		7,859,371
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	5.81
Class R6 Shares
Net Assets	$	120,359,485
Shares Outstanding		20,721,868
Net Asset Value, Offering Price and Redemption Price Per Share
(net assets ÷ shares of beneficial interest outstanding)	$	5.81

On sales of $50,000 or more, the offering price of Class A shares is reduced.

* Redemption price per share is equal to the net asset value less any applicable contingent deferred sales charge.

5 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Statement of Operations (Unaudited)

Investment Income	Six Months Ended April 30, 2017
Interest and other income allocated from Portfolio	$	195,407,519
Dividends allocated from Portfolio		2,799,277
Expenses allocated from Portfolio		(19,563,809	)
Total investment income from Portfolio	$	178,642,987
Expenses
Distribution and service fees
Class A	$	1,916,300
Class B		63,128
Class C		1,240,679
Class R		111,002
Trustees’ fees and expenses		250
Custodian fee		29,824
Transfer and dividend disbursing agent fees		2,962,031
Legal and accounting services		84,721
Printing and postage		1,224,954
Registration fees		165,124
Miscellaneous		23,562
Total expenses	$	7,821,575
Net investment income	$	170,821,412
Realized and Unrealized Gain (Loss) from Portfolio
Net realized gain (loss) —
Investment transactions	$	(4,983,606	)
Swap contracts		346,310
Foreign currency and forward foreign currency exchange contract transactions		70,498
Net realized loss	$	(4,566,798	)
Change in unrealized appreciation (depreciation) —
Investments	$	130,894,357
Swap contracts		(331,062	)
Foreign currency and forward foreign currency exchange contracts		12,340
Net change in unrealized appreciation (depreciation)	$	130,575,635
Net realized and unrealized gain	$	126,008,837
Net increase in net assets from operations	$	296,830,249

6 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
From operations —
Net investment income	$	170,821,412		$	324,197,086
Net realized loss from investment transactions, swap contracts and foreign currency and forward foreign currency exchange contract transactions		(4,566,798	)		(63,758,211	)
Net change in unrealized appreciation (depreciation) from investments, swap contracts, foreign currency and forward foreign currency exchange contracts		130,575,635			177,726,574
Net increase in net assets from operations	$	296,830,249		$	438,165,449
Distributions to shareholders —
From net investment income
Class A	$	(43,020,822	)	$	(76,522,676	)
Class B		(307,044	)		(817,440	)
Class C		(6,035,746	)		(11,861,202	)
Class I		(129,741,251	)		(240,455,379	)
Class R		(1,189,042	)		(2,307,025	)
Class R6		(2,525,512	)		(2,161,401	)
Tax return of capital
Class A		—			(6,307,831	)
Class B		—			(64,280	)
Class C		—			(971,446	)
Class I		—			(20,189,526	)
Class R		—			(184,370	)
Class R6		—			(190,795	)
Total distributions to shareholders	$	(182,819,417	)	$	(362,033,371	)
Transactions in shares of beneficial interest —
Proceeds from sale of shares
Class A	$	168,912,828		$	611,868,271
Class B		15,195			282,185
Class C		14,772,191			48,632,020
Class I		1,006,805,136			2,516,434,506
Class R		7,958,121			18,548,685
Class R6		65,330,931			44,004,485
Net asset value of shares issued to shareholders in payment of distributions declared
Class A		41,170,187			79,077,089
Class B		266,488			764,599
Class C		5,497,750			11,589,767
Class I		122,579,897			246,393,677
Class R		1,080,868			2,365,990
Class R6		2,058,723			1,207,909
Cost of shares redeemed
Class A		(695,914,594	)		(368,664,965	)
Class B		(1,624,597	)		(4,782,172	)
Class C		(27,768,032	)		(56,377,082	)
Class I		(1,016,891,688	)		(2,192,072,233	)
Class R		(8,124,640	)		(24,611,506	)
Class R6		(9,724,232	)		(8,608,103	)
Net asset value of shares exchanged
Class A		1,287,119			2,815,183
Class B		(1,287,119	)		(2,815,183	)
Net increase (decrease) in net assets from Fund share transactions	$	(323,599,468	)	$	926,053,122
Net increase (decrease) in net assets	$	(209,588,636	)	$	1,002,185,200
Net Assets
At beginning of period	$	6,434,908,217		$	5,432,723,017
At end of period	$	6,225,319,581		$	6,434,908,217
Accumulated distributions in excess of net investment income included in net assets
At end of period	$	(15,949,693	)	$	(3,951,688	)

7 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Financial Highlights

	Class A
	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,
				2016			2015			2014			2013			2012
Net asset value — Beginning of period	$	5.700		$	5.660		$	6.020		$	6.060		$	5.920		$	5.720
Income (Loss) From Operations
Net investment income(1)	$	0.149		$	0.302		$	0.318		$	0.331		$	0.349		$	0.355
Net realized and unrealized gain (loss)		0.120			0.076			(0.323	)		(0.014	)		0.156			0.252
Total income (loss) from operations	$	0.269		$	0.378		$	(0.005	)	$	0.317		$	0.505		$	0.607
Less Distributions
From net investment income	$	(0.159	)	$	(0.312	)	$	(0.329	)	$	(0.357	)	$	(0.365	)	$	(0.394	)
Tax return of capital		—			(0.026	)		(0.026	)		—			—			(0.013	)
Total distributions	$	(0.159	)	$	(0.338	)	$	(0.355	)	$	(0.357	)	$	(0.365	)	$	(0.407	)
Net asset value — End of period	$	5.810		$	5.700		$	5.660		$	6.020		$	6.060		$	5.920
Total Return(2)		4.79	%(3)		7.02	%		(0.10	)%		5.34	%		8.75	%		11.00	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	1,226,811		$	1,686,369		$	1,349,462		$	1,551,838		$	1,830,909		$	1,997,735
Ratios (as a percentage of average daily net assets):(4)
Expenses(5)		1.01	%(6)		0.99	%		1.00	%		1.00	%		1.00	%		1.02	%
Net investment income		5.24	%(6)		5.43	%		5.43	%		5.45	%		5.80	%		6.12	%
Portfolio Turnover of the Portfolio		24	%(3)		34	%		36	%		43	%		56	%		64	%

⁽¹⁾  Computed using average shares outstanding.

⁽²⁾  Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges.

⁽³⁾  Not annualized.

⁽⁴⁾  Includes the Fund’s share of the Portfolio’s allocated expenses.

⁽⁵⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽⁶⁾  Annualized.

8 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Financial Highlights — continued

	Class B
	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,
				2016			2015			2014			2013			2012
Net asset value — Beginning of period	$	5.700		$	5.660		$	6.020		$	6.070		$	5.930		$	5.720
Income (Loss) From Operations
Net investment income(1)	$	0.128		$	0.261		$	0.276		$	0.286		$	0.303		$	0.317
Net realized and unrealized gain (loss)		0.120			0.075			(0.326	)		(0.023	)		0.158			0.257
Total income (loss) from operations	$	0.248		$	0.336		$	(0.050	)	$	0.263		$	0.461		$	0.574
Less Distributions
From net investment income	$	(0.138	)	$	(0.274	)	$	(0.288	)	$	(0.313	)	$	(0.321	)	$	(0.352	)
Tax return of capital		—			(0.022	)		(0.022	)		—			—			(0.012	)
Total distributions	$	(0.138	)	$	(0.296	)	$	(0.310	)	$	(0.313	)	$	(0.321	)	$	(0.364	)
Net asset value — End of period	$	5.810		$	5.700		$	5.660		$	6.020		$	6.070		$	5.930
Total Return(2)		4.40	%(3)		6.20	%		(0.87	)%		4.40	%		7.96	%		10.38	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	11,486		$	13,891		$	20,491		$	30,329		$	39,996		$	56,321
Ratios (as a percentage of average daily net assets):(4)
Expenses(5)		1.76	%(6)		1.75	%		1.75	%		1.75	%		1.75	%		1.77	%
Net investment income		4.48	%(6)		4.72	%		4.70	%		4.70	%		5.04	%		5.48	%
Portfolio Turnover of the Portfolio		24	%(3)		34	%		36	%		43	%		56	%		64	%

⁽¹⁾  Computed using average shares outstanding.

⁽²⁾  Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges.

⁽³⁾  Not annualized.

⁽⁴⁾  Includes the Fund’s share of the Portfolio’s allocated expenses.

⁽⁵⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽⁶⁾  Annualized.

9 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Financial Highlights — continued

	Class C
	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,
				2016			2015			2014			2013			2012
Net asset value — Beginning of period	$	5.710		$	5.660		$	6.030		$	6.070		$	5.930		$	5.720
Income (Loss) From Operations
Net investment income(1)	$	0.128		$	0.260		$	0.274		$	0.286		$	0.303		$	0.313
Net realized and unrealized gain (loss)		0.110			0.086			(0.334	)		(0.013	)		0.158			0.261
Total income (loss) from operations	$	0.238		$	0.346		$	(0.060	)	$	0.273		$	0.461		$	0.574
Less Distributions
From net investment income	$	(0.138	)	$	(0.274	)	$	(0.288	)	$	(0.313	)	$	(0.321	)	$	(0.352	)
Tax return of capital		—			(0.022	)		(0.022	)		—			—			(0.012	)
Total distributions	$	(0.138	)	$	(0.296	)	$	(0.310	)	$	(0.313	)	$	(0.321	)	$	(0.364	)
Net asset value — End of period	$	5.810		$	5.710		$	5.660		$	6.030		$	6.070		$	5.930
Total Return(2)		4.22	%(3)		6.39	%		(1.04	)%		4.57	%		7.95	%		10.37	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	250,005		$	252,990		$	247,325		$	295,436		$	308,296		$	318,029
Ratios (as a percentage of average daily net assets):(4)
Expenses(5)		1.76	%(6)		1.74	%		1.75	%		1.75	%		1.75	%		1.77	%
Net investment income		4.48	%(6)		4.69	%		4.68	%		4.70	%		5.04	%		5.39	%
Portfolio Turnover of the Portfolio		24	%(3)		34	%		36	%		43	%		56	%		64	%

⁽¹⁾  Computed using average shares outstanding.

⁽²⁾  Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges.

⁽³⁾  Not annualized.

⁽⁴⁾  Includes the Fund’s share of the Portfolio’s allocated expenses.

⁽⁵⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽⁶⁾  Annualized.

10 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Financial Highlights — continued

	Class I
	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,
				2016			2015			2014			2013			2012
Net asset value — Beginning of period	$	5.700		$	5.660		$	6.020		$	6.070		$	5.930		$	5.720
Income (Loss) From Operations
Net investment income(1)	$	0.156		$	0.315		$	0.330		$	0.345		$	0.363		$	0.367
Net realized and unrealized gain (loss)		0.120			0.077			(0.320	)		(0.023	)		0.157			0.265
Total income from operations	$	0.276		$	0.392		$	0.010		$	0.322		$	0.520		$	0.632
Less Distributions
From net investment income	$	(0.166	)	$	(0.325	)	$	(0.343	)	$	(0.372	)	$	(0.380	)	$	(0.409	)
Tax return of capital		—			(0.027	)		(0.027	)		—			—			(0.013	)
Total distributions	$	(0.166	)	$	(0.352	)	$	(0.370	)	$	(0.372	)	$	(0.380	)	$	(0.422	)
Net asset value — End of period	$	5.810		$	5.700		$	5.660		$	6.020		$	6.070		$	5.930
Total Return(2)		4.91	%(3)		7.28	%		0.15	%		5.42	%		9.01	%		11.46	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	4,571,019		$	4,376,959		$	3,744,639		$	2,903,827		$	2,113,533		$	2,224,443
Ratios (as a percentage of average daily net assets):(4)
Expenses(5)		0.76	%(6)		0.74	%		0.75	%		0.75	%		0.75	%		0.77	%
Net investment income		5.48	%(6)		5.67	%		5.64	%		5.68	%		6.04	%		6.32	%
Portfolio Turnover of the Portfolio		24	%(3)		34	%		36	%		43	%		56	%		64	%

⁽¹⁾  Computed using average shares outstanding.

⁽²⁾  Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

⁽³⁾  Not annualized.

⁽⁴⁾  Includes the Fund’s share of the Portfolio’s allocated expenses.

⁽⁵⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽⁶⁾  Annualized.

11 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Financial Highlights — continued

	Class R
	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,
				2016			2015			2014			2013			2012
Net asset value — Beginning of period	$	5.700		$	5.660		$	6.020		$	6.060		$	5.920		$	5.720
Income (Loss) From Operations
Net investment income(1)	$	0.142		$	0.288		$	0.301		$	0.316		$	0.333		$	0.342
Net realized and unrealized gain (loss)		0.120			0.076			(0.321	)		(0.014	)		0.157			0.251
Total income (loss) from operations	$	0.262		$	0.364		$	(0.020	)	$	0.302		$	0.490		$	0.593
Less Distributions
From net investment income	$	(0.152	)	$	(0.299	)	$	(0.315	)	$	(0.342	)	$	(0.350	)	$	(0.381	)
Tax return of capital		—			(0.025	)		(0.025	)		—			—			(0.012	)
Total distributions	$	(0.152	)	$	(0.324	)	$	(0.340	)	$	(0.342	)	$	(0.350	)	$	(0.393	)
Net asset value — End of period	$	5.810		$	5.700		$	5.660		$	6.020		$	6.060		$	5.920
Total Return(2)		4.66	%(3)		6.75	%		(0.36	)%		5.08	%		8.48	%		10.73	%
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	45,638		$	43,902		$	47,575		$	37,575		$	34,457		$	36,971
Ratios (as a percentage of average daily net assets):(4)
Expenses(5)		1.26	%(6)		1.24	%		1.25	%		1.25	%		1.25	%		1.27	%
Net investment income		4.98	%(6)		5.20	%		5.15	%		5.19	%		5.54	%		5.90	%
Portfolio Turnover of the Portfolio		24	%(3)		34	%		36	%		43	%		56	%		64	%

⁽¹⁾  Computed using average shares outstanding.

⁽²⁾  Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

⁽³⁾  Not annualized.

⁽⁴⁾  Includes the Fund’s share of the Portfolio’s allocated expenses

⁽⁵⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽⁶⁾  Annualized.

12 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Financial Highlights — continued

	Class R6
	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,						Period Ended October 31,  2014(1)
				2016			2015
Net asset value — Beginning of period	$	5.700		$	5.660		$	6.020		$	6.160
Income (Loss) From Operations
Net investment income(2)	$	0.158		$	0.319		$	0.326		$	0.114
Net realized and unrealized gain (loss)		0.121			0.078			(0.311	)		(0.129	)
Total income (loss) from operations	$	0.279		$	0.397		$	0.015		$	(0.015	)
Less Distributions
From net investment income	$	(0.169	)	$	(0.330	)	$	(0.348	)	$	(0.125	)
Tax return of capital		—			(0.027	)		(0.027	)		—
Total distributions	$	(0.169	)	$	(0.357	)	$	(0.375	)	$	(0.125	)
Net asset value — End of period	$	5.810		$	5.700		$	5.660		$	6.020
Total Return(3)		4.96	%(4)		7.38	%		0.24	%		(0.23	)%(4)
Ratios/Supplemental Data
Net assets, end of period (000’s omitted)	$	120,359		$	60,797		$	23,230		$	1,173
Ratios (as a percentage of average daily net assets):(5)
Expenses(6)		0.67	%(7)		0.66	%		0.66	%		0.69	%(7)
Net investment income		5.56	%(7)		5.71	%		5.62	%		5.67	%(7)
Portfolio Turnover of the Portfolio		24	%(4)		34	%		36	%		43	%(8)

⁽¹⁾  For the period from the commencement of operations, July 1, 2014, to October 31, 2014.

⁽²⁾  Computed using average shares outstanding.

⁽³⁾  Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested.

⁽⁴⁾  Not annualized.

⁽⁵⁾  Includes the Fund’s share of the Portfolio’s allocated expenses.

⁽⁶⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽⁷⁾  Annualized.

⁽⁸⁾  For the Portfolio’s year ended October 31, 2014.

13 See Notes to Financial Statements.

Eaton Vance

Income Fund of Boston

April 30, 2017

Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies

Eaton Vance Income Fund of Boston (the Fund) is a diversified series of Eaton Vance Series Trust II (the Trust). The Trust is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company. The Fund offers six classes of shares. Class A shares are generally sold subject to a sales charge imposed at time of purchase. Class B and Class C shares are sold at net asset value and are generally subject to a contingent deferred sales charge (see Note 5). Class I, Class R and Class R6 shares are sold at net asset value and are not subject to a sales charge. Class B shares automatically convert to Class A shares eight years after their purchase as described in the Fund’s prospectus. Beginning January 1, 2012, Class B shares are only available for purchase upon exchange from another Eaton Vance fund or through reinvestment of distributions. Each class represents a pro-rata interest in the Fund, but votes separately on class-specific matters and (as noted below) is subject to different expenses. Realized and unrealized gains and losses are allocated daily to each class of shares based on the relative net assets of each class to the total net assets of the Fund. Net investment income, other than class-specific expenses, is allocated daily to each class of shares based upon the ratio of the value of each class’s paid shares to the total value of all paid shares. Sub-accounting, recordkeeping and similar administrative fees payable to financial intermediaries, which are a component of transfer and dividend disbursing agent fees on the Statement of Operations, are not allocated to Class R6 shares. Each class of shares differs in its distribution plan and certain other class-specific expenses. The Fund invests all of its investable assets in interests in Boston Income Portfolio (the Portfolio), a Massachusetts business trust, having the same investment objectives and policies as the Fund. The value of the Fund’s investment in the Portfolio reflects the Fund’s proportionate interest in the net assets of the Portfolio (99.9% at April 30, 2017). The performance of the Fund is directly affected by the performance of the Portfolio. The financial statements of the Portfolio, including the portfolio of investments, are included elsewhere in this report and should be read in conjunction with the Fund’s financial statements.

The following is a summary of significant accounting policies of the Fund. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Fund is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946.

A  Investment Valuation — Valuation of securities by the Portfolio is discussed in Note 1A of the Portfolio’s Notes to Financial Statements, which are included elsewhere in this report.

B  Income — The Fund’s net investment income or loss consists of the Fund’s pro-rata share of the net investment income or loss of the Portfolio, less all actual and accrued expenses of the Fund.

C  Federal Taxes — The Fund’s policy is to comply with the provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute to shareholders each year substantially all of its net investment income, and all or substantially all of its net realized capital gains. Accordingly, no provision for federal income or excise tax is necessary.

As of April 30, 2017, the Fund had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Fund files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.

D  Expenses — The majority of expenses of the Trust are directly identifiable to an individual fund. Expenses which are not readily identifiable to a specific fund are allocated taking into consideration, among other things, the nature and type of expense and the relative size of the funds.

E  Use of Estimates — The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

F  Indemnifications — Under the Trust’s organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Fund. Under Massachusetts law, if certain conditions prevail, shareholders of a Massachusetts business trust (such as the Trust) could be deemed to have personal liability for the obligations of the Trust. However, the Trust’s Declaration of Trust contains an express disclaimer of liability on the part of Fund shareholders and the By-laws provide that the Trust shall assume the defense on behalf of any Fund shareholders. Moreover, the By-laws also provide for indemnification out of Fund property of any shareholder held personally liable solely by reason of being or having been a shareholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Fund enters into agreements with service providers that may contain indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet occurred.

G  Other — Investment transactions are accounted for on a trade date basis.

H  Interim Financial Statements — The interim financial statements relating to April 30, 2017 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Fund’s management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.

14

Eaton Vance

Income Fund of Boston

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

2  Distributions to Shareholders and Income Tax Information

The Fund declares dividends daily to shareholders of record at the time of declaration. Distributions are generally paid monthly. Distributions of realized capital gains (reduced by available capital loss carryforwards) are made at least annually. Distributions are declared separately for each class of shares. Shareholders may reinvest income and capital gain distributions in additional shares of the same class of the Fund at the net asset value as of the reinvestment date or, at the election of the shareholder, receive distributions in cash. Distributions to shareholders are determined in accordance with income tax regulations, which may differ from U.S. GAAP. As required by U.S. GAAP, only distributions in excess of tax basis earnings and profits are reported in the financial statements as a return of capital. Permanent differences between book and tax accounting relating to distributions are reclassified to paid-in capital. For tax purposes, distributions from short-term capital gains are considered to be from ordinary income.

At October 31, 2016, the Fund, for federal income tax purposes, had capital loss carryforwards of $45,934,301 and deferred capital losses of $134,521,398 which would reduce its taxable income arising from future net realized gains on investment transactions, if any, to the extent permitted by the Internal Revenue Code, and thus would reduce the amount of distributions to shareholders, which would otherwise be necessary to relieve the Fund of any liability for federal income or excise tax. Such capital loss carryforwards will expire on October 31, 2017 ($43,883,291) and October 31, 2019 ($2,051,010) and their character is short-term. Under tax regulations, capital losses incurred in taxable years beginning after December 2010 are considered deferred capital losses and are treated as arising on the first day of the Fund’s next taxable year, retaining the same short-term or long-term character as when originally deferred. Deferred capital losses are required to be used prior to capital loss carryforwards, which carry an expiration date. As a result of this ordering rule, capital loss carryforwards may be more likely to expire unused. Of the deferred capital losses at October 31, 2016, $20,903,743 are short-term and $113,617,655 are long-term.

3  Transactions with Affiliates

Eaton Vance Management (EVM) serves as the administrator of the Fund, but receives no compensation. The Portfolio has engaged Boston Management and Research (BMR), a subsidiary of EVM, to render investment advisory services. See Note 2 of the Portfolio’s Notes to Financial Statements which are included elsewhere in this report. EVM provides sub-transfer agency and related services to the Fund pursuant to a Sub-Transfer Agency Support Services Agreement. For the six months ended April 30, 2017, EVM earned $48,096 from the Fund pursuant to such agreement, which is included in transfer and dividend disbursing agent fees on the Statement of Operations. The Fund was informed that Eaton Vance Distributors, Inc. (EVD), an affiliate of EVM and the Fund’s principal underwriter, received $54,231 as its portion of the sales charge on sales of Class A shares for the six months ended April 30, 2017. EVD also received distribution and service fees from Class A, Class B, Class C and Class R shares (see Note 4) and contingent deferred sales charges (see Note 5).

Trustees and officers of the Fund who are members of EVM’s or BMR’s organizations receive remuneration for their services to the Fund out of the investment adviser fee. Certain officers and Trustees of the Fund and the Portfolio are officers of the above organizations.

4  Distribution Plans

The Fund has in effect a distribution plan for Class A shares (Class A Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class A Plan, the Fund pays EVD a distribution and service fee of 0.25% per annum of its average daily net assets attributable to Class A shares for distribution services and facilities provided to the Fund by EVD, as well as for personal services and/or the maintenance of shareholder accounts. Distribution and service fees paid or accrued to EVD for the six months ended April 30, 2017 amounted to $1,916,300 for Class A shares. The Fund also has in effect distribution plans for Class B shares (Class B Plan), Class C shares (Class C Plan) and Class R shares (Class R Plan) pursuant to Rule 12b-1 under the 1940 Act. Pursuant to the Class B and Class C Plans, the Fund pays EVD amounts equal to 0.75% per annum of its average daily net assets attributable to Class B and Class C shares for providing ongoing distribution services and facilities to the Fund. For the six months ended April 30, 2017, the Fund paid or accrued to EVD $47,346 and $930,509 for Class B and Class C shares, respectively. The Class R Plan requires the Fund to pay EVD an amount up to 0.50% per annum of its average daily net assets attributable to Class R shares for providing ongoing distribution services and facilities to the Fund. The Trustees of the Trust have currently limited Class R distribution payments to 0.25% per annum of the average daily net assets attributable to Class R shares. For the six months ended April 30, 2017, the Fund paid or accrued to EVD $55,501 for Class R shares.

Pursuant to the Class B, Class C and Class R Plans, the Fund also makes payments of service fees to EVD, financial intermediaries and other persons in amounts equal to 0.25% per annum of its average daily net assets attributable to that class. Service fees paid or accrued are for personal services and/or the maintenance of shareholder accounts. They are separate and distinct from the sales commissions and distribution fees payable to EVD. Service fees paid or accrued for the six months ended April 30, 2017 amounted to $15,782, $310,170 and $55,501 for Class B, Class C and Class R shares, respectively.

Distribution and service fees are subject to the limitations contained in the Financial Industry Regulatory Authority Rule 2341(d) and for Class B, are further limited to a 5% maximum sales charge as determined in accordance with such rule.

15

Eaton Vance

Income Fund of Boston

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

5  Contingent Deferred Sales Charges

A contingent deferred sales charge (CDSC) generally is imposed on redemptions of Class B shares made within six years of purchase and on redemptions of Class C shares made within one year of purchase. Class A shares may be subject to a 1% CDSC if redeemed within 18 months of purchase (depending on the circumstances of purchase). Generally, the CDSC is based upon the lower of the net asset value at date of redemption or date of purchase. No charge is levied on shares acquired by reinvestment of dividends or capital gain distributions. The CDSC for Class B shares is imposed at declining rates that begin at 5% in the case of redemptions in the first and second year after purchase, declining one percentage point each subsequent year. Class C shares are subject to a 1% CDSC if redeemed within one year of purchase. For the six months ended April 30, 2017, the Fund was informed that EVD received approximately $20,000, $1,000 and $7,000 of CDSCs paid by Class A, Class B and Class C shareholders, respectively.

6  Investment Transactions

For the six months ended April 30, 2017, increases and decreases in the Fund’s investment in the Portfolio aggregated $319,680,311 and $849,521,459, respectively.

7  Shares of Beneficial Interest

The Fund’s Declaration of Trust permits the Trustees to issue an unlimited number of full and fractional shares of beneficial interest (without par value). Such shares may be issued in a number of different series (such as the Fund) and classes. Transactions in Fund shares were as follows:

Class A	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
Sales		29,523,082			109,009,587
Issued to shareholders electing to receive payments of distributions in Fund shares		7,159,483			14,241,169
Redemptions		(121,404,404	)		(66,482,062	)
Exchange from Class B shares		223,929			509,078
Net increase (decrease)		(84,497,910	)		57,277,772
Class B	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
Sales		2,638			50,735
Issued to shareholders electing to receive payments of distributions in Fund shares		46,341			137,985
Redemptions		(283,351	)		(865,634	)
Exchange to Class A shares		(223,647	)		(508,621	)
Net decrease		(458,019	)		(1,185,535	)
Class C	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
Sales		2,570,334			8,769,444
Issued to shareholders electing to receive payments of distributions in Fund shares		954,202			2,085,190
Redemptions		(4,837,716	)		(10,209,560	)
Net increase (decrease)		(1,313,180	)		645,074

16

Eaton Vance

Income Fund of Boston

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

Class I	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
Sales		175,697,150			456,925,142
Issued to shareholders electing to receive payments of distributions in Fund shares		21,303,094			44,312,211
Redemptions		(177,481,246	)		(395,530,956	)
Net increase		19,518,998			105,706,397
Class R	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
Sales		1,390,441			3,343,505
Issued to shareholders electing to receive payments of distributions in Fund shares		187,865			427,031
Redemptions		(1,418,583	)		(4,479,655	)
Net increase (decrease)		159,723			(709,119	)
Class R6	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
Sales		11,399,685			7,877,244
Issued to shareholders electing to receive payments of distributions in Fund shares		357,261			215,395
Redemptions		(1,694,701	)		(1,538,095	)
Net increase		10,062,245			6,554,544

17

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited)

Corporate Bonds & Notes — 87.3%
Security	Principal Amount (000’s omitted)		Value
Aerospace — 0.8%
Booz Allen Hamilton, Inc., 5.125%, 5/1/25(1)	$	2,495	$	2,535,544
Huntington Ingalls Industries, Inc., 5.00%, 11/15/25(1)		7,605		8,042,287
Orbital ATK, Inc., 5.25%, 10/1/21		6,870		7,127,625
Orbital ATK, Inc., 5.50%, 10/1/23		1,945		2,027,663
TransDigm, Inc., 6.00%, 7/15/22		15,200		15,694,000
TransDigm, Inc., 6.375%, 6/15/26		295		297,950
TransDigm, Inc., 6.50%, 7/15/24		14,665		15,104,950
			$	50,830,019
Air Transportation — 0.2%
VistaJet Malta Finance PLC/VistaJet Co. Finance, LLC, 7.75%, 6/1/20(1)	$	12,880	$	10,529,400
			$	10,529,400
Automotive & Auto Parts — 1.0%
American Axle & Manufacturing, Inc., 5.125%, 2/15/19	$	3,205	$	3,241,300
American Axle & Manufacturing, Inc., 6.25%, 4/1/25(1)		6,190		6,174,525
American Axle & Manufacturing, Inc., 6.50%, 4/1/27(1)		5,085		5,059,575
American Tire Distributors, Inc., 10.25%, 3/1/22(1)		12,310		12,694,687
General Motors Financial Co., Inc., 3.25%, 5/15/18		1,780		1,803,662
General Motors Financial Co., Inc., 4.75%, 8/15/17		1,955		1,971,459
General Motors Financial Co., Inc., 6.75%, 6/1/18		4,760		5,003,246
Navistar International Corp., 8.25%, 11/1/21		15,215		15,481,262
ZF North America Capital, Inc., 4.00%, 4/29/20(1)		6,150		6,426,750
ZF North America Capital, Inc., 4.50%, 4/29/22(1)		3,680		3,877,800
ZF North America Capital, Inc., 4.75%, 4/29/25(1)		3,245		3,387,196
			$	65,121,462
Banks & Thrifts — 0.9%
Ally Financial, Inc., 3.50%, 1/27/19	$	16,565	$	16,813,475
Ally Financial, Inc., 6.25%, 12/1/17		5,890		6,044,613
Ally Financial, Inc., 8.00%, 12/31/18		2,500		2,712,500
CIT Group, Inc., 5.375%, 5/15/20		13,300		14,347,375
CIT Group, Inc., 5.50%, 2/15/19(1)		2,601		2,753,809
JPMorgan Chase & Co., Series S, 6.75% to 2/1/24(2)(3)		9,210		10,400,392
			$	53,072,164
Broadcasting — 1.3%
CBS Radio, Inc., 7.25%, 11/1/24(1)	$	11,190	$	12,197,100
EW Scripps Co. (The), 5.125%, 5/15/25(1)		2,495		2,566,731
iHeartCommunications, Inc., 11.25%, 3/1/21		10,550		8,149,875

Security	Principal Amount (000’s omitted)		Value
Broadcasting (continued)
Netflix, Inc., 5.50%, 2/15/22	$	8,685	$	9,336,375
Netflix, Inc., 5.875%, 2/15/25		5,730		6,231,375
Sirius XM Radio, Inc., 6.00%, 7/15/24(1)		25,438		27,282,255
Tribune Media Co., 5.875%, 7/15/22		6,235		6,581,167
Univision Communications, Inc., 5.125%, 5/15/23(1)		6,190		6,313,800
			$	78,658,678
Building Materials — 1.6%
Brundage-Bone Concrete Pumping, Inc., 10.375%, 9/1/21(1)	$	6,215	$	6,494,675
Builders FirstSource, Inc., 5.625%, 9/1/24(1)		7,620		7,934,325
Builders FirstSource, Inc., 10.75%, 8/15/23(1)		5,199		6,095,828
FBM Finance, Inc., 8.25%, 8/15/21(1)		10,650		11,541,831
HD Supply, Inc., 5.25%, 12/15/21(1)		7,870		8,332,363
HD Supply, Inc., 5.75%, 4/15/24(1)		8,750		9,318,750
Hillman Group, Inc. (The), 6.375%, 7/15/22(1)		14,330		13,720,975
Rexel S.A., 5.25%, 6/15/20(1)		9,191		9,426,007
Standard Industries, Inc., 5.50%, 2/15/23(1)		12,035		12,546,487
Standard Industries, Inc., 6.00%, 10/15/25(1)		14,595		15,653,137
USG Corp., 5.50%, 3/1/25(1)		1,695		1,786,106
			$	102,850,484
Cable / Satellite TV — 6.8%
Altice Financing S.A., 6.50%, 1/15/22(1)	$	1,405	$	1,477,006
Altice Financing S.A., 6.625%, 2/15/23(1)		13,855		14,703,619
Altice Luxembourg S.A., 7.625%, 2/15/25(1)		6,140		6,577,475
Altice Luxembourg S.A., 7.75%, 5/15/22(1)		27,860		29,670,900
Altice US Finance I Corp., 5.375%, 7/15/23(1)		4,030		4,221,425
Altice US Finance I Corp., 5.50%, 5/15/26(1)		14,955		15,497,119
Cablevision Systems Corp., 5.875%, 9/15/22		12,265		12,617,619
Cablevision Systems Corp., 7.75%, 4/15/18		10,805		11,331,744
Cablevision Systems Corp., 8.00%, 4/15/20		12,960		14,507,165
CCO Holdings, LLC/CCO Holdings Capital Corp., 5.25%, 9/30/22		12,245		12,734,800
CCO Holdings, LLC/CCO Holdings Capital Corp., 5.375%, 5/1/25(1)		13,405		14,008,225
CCO Holdings, LLC/CCO Holdings Capital Corp., 5.75%, 1/15/24		1,625		1,714,375
CCO Holdings, LLC/CCO Holdings Capital Corp., 5.75%, 2/15/26(1)		11,655		12,408,845
CCO Holdings, LLC/CCO Holdings Capital Corp., 5.875%, 4/1/24(1)		20,085		21,541,162
Cequel Communications Holdings I, LLC/Cequel Capital Corp., 5.125%, 12/15/21(1)		8,884		9,128,310
Cequel Communications Holdings I, LLC/Cequel Capital Corp., 6.375%, 9/15/20(1)		1,365		1,410,222

18 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Cable / Satellite TV (continued)
CSC Holdings, LLC, 5.25%, 6/1/24	$	1,900	$	1,927,303
CSC Holdings, LLC, 6.75%, 11/15/21		12,915		14,238,787
CSC Holdings, LLC, 8.625%, 2/15/19		4,385		4,841,259
CSC Holdings, LLC, 10.125%, 1/15/23(1)		17,855		20,756,437
CSC Holdings, LLC, 10.875%, 10/15/25(1)		20,770		25,001,887
DISH DBS Corp., 5.875%, 7/15/22		12,425		13,192,741
DISH DBS Corp., 5.875%, 11/15/24		1,805		1,899,763
DISH DBS Corp., 6.75%, 6/1/21		14,092		15,360,280
DISH DBS Corp., 7.75%, 7/1/26		10,115		11,872,481
SFR Group S.A., 6.00%, 5/15/22(1)		23,425		24,508,406
SFR Group S.A., 6.25%, 5/15/24(1)		2,925		3,038,344
SFR Group S.A., 7.375%, 5/1/26(1)		12,495		13,197,844
Unitymedia GmbH, 6.125%, 1/15/25(1)		3,975		4,263,625
Unitymedia Hessen GmbH & Co. KG/Unitymedia NRW GmbH, 5.50%, 1/15/23(1)		13,345		13,945,525
UPCB Finance IV, Ltd., 5.375%, 1/15/25(1)		4,740		4,846,650
Virgin Media Finance PLC, 5.75%, 1/15/25(1)		9,450		9,674,438
Virgin Media Finance PLC, 6.375%, 4/15/23(1)		3,265		3,440,494
Virgin Media Secured Finance PLC, 5.25%, 1/15/26(1)		12,495		12,698,044
Virgin Media Secured Finance PLC, 5.50%, 8/15/26(1)		7,835		8,021,081
VTR Finance B.V., 6.875%, 1/15/24(1)		8,330		8,871,450
Ziggo Bond Finance B.V., 5.875%, 1/15/25(1)		6,220		6,414,375
Ziggo Bond Finance B.V., 6.00%, 1/15/27(1)		13,180		13,476,550
Ziggo Secured Finance B.V., 5.50%, 1/15/27(1)		6,485		6,679,550
			$	425,717,325
Capital Goods — 0.6%
Anixter, Inc., 5.50%, 3/1/23	$	9,930	$	10,563,038
Welbilt, Inc., 9.50%, 2/15/24		20,975		24,331,000
			$	34,894,038
Chemicals — 1.9%
Alpha 3 B.V./Alpha US Bidco, Inc., 6.25%, 2/1/25(1)	$	5,350	$	5,457,000
CF Industries, Inc., 4.95%, 6/1/43		7,920		6,689,786
Chemours Co. (The), 7.00%, 5/15/25		4,665		5,148,994
Platform Specialty Products Corp., 6.50%, 2/1/22(1)		19,885		20,481,550
Platform Specialty Products Corp., 10.375%, 5/1/21(1)		6,445		7,194,231
PQ Corp., 6.75%, 11/15/22(1)		3,150		3,425,594
SPCM S.A., 4.875%, 9/15/25(1)		4,070		4,125,963
Tronox Finance, LLC, 6.375%, 8/15/20		26,130		26,685,262
Tronox Finance, LLC, 7.50%, 3/15/22(1)		10,220		10,731,000
Valvoline, Inc., 5.50%, 7/15/24(1)		2,810		2,978,600
Versum Materials, Inc., 5.50%, 9/30/24(1)		9,540		9,933,525
W.R. Grace & Co., 5.125%, 10/1/21(1)		9,590		10,321,237

Security	Principal Amount (000’s omitted)		Value
Chemicals (continued)
W.R. Grace & Co., 5.625%, 10/1/24(1)	$	2,500	$	2,721,875
			$	115,894,617
Consumer Products — 1.7%
CBC Ammo, LLC/CBC FinCo, Inc., 7.25%, 11/15/21(1)	$	13,610	$	13,780,125
Central Garden & Pet Co., 6.125%, 11/15/23		15,080		16,173,300
HRG Group, Inc., 7.875%, 7/15/19		26,940		28,024,335
Scotts Miracle-Gro Co. (The), 6.00%, 10/15/23		4,115		4,418,481
Spectrum Brands, Inc., 5.75%, 7/15/25		15,435		16,622,106
Tempur Sealy International, Inc., 5.50%, 6/15/26		3,015		3,007,463
Tempur Sealy International, Inc., 5.625%, 10/15/23		8,905		9,145,435
Vista Outdoor, Inc., 5.875%, 10/1/23		14,965		14,965,000
			$	106,136,245
Containers — 2.7%
ARD Finance S.A., 7.125%, 9/15/23(1)(4)	$	8,590	$	8,933,600
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 4.25%, 9/15/22(1)		5,600		5,721,520
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 4.625%, 5/15/23(1)		13,015		13,340,375
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 6.00%, 6/30/21(1)		3,900		4,056,000
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 6.00%, 2/15/25(1)		19,270		19,968,537
Ardagh Packaging Finance PLC/Ardagh Holdings USA, Inc., 7.25%, 5/15/24(1)		28,090		30,688,325
Berry Plastics Corp., 6.00%, 10/15/22		10,130		10,801,113
BWAY Holding Co., 5.50%, 4/15/24(1)		14,980		15,185,975
BWAY Holding Co., 7.25%, 4/15/25(1)		15,260		15,279,075
Owens-Brockway Glass Container, Inc., 5.875%, 8/15/23(1)		19,975		21,410,703
Owens-Brockway Glass Container, Inc., 6.375%, 8/15/25(1)		4,160		4,531,800
Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC, 5.125%, 7/15/23(1)		8,925		9,315,469
Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC, 6.875%, 2/15/21		4,171		4,290,661
Reynolds Group Issuer, Inc./Reynolds Group Issuer, LLC, 7.00%, 7/15/24(1)		7,115		7,670,859
			$	171,194,012
Diversified Financial Services — 2.3%
Aircastle, Ltd., 5.00%, 4/1/23	$	4,955	$	5,301,850
Alliance Data Systems Corp., 5.875%, 11/1/21(1)		14,975		15,536,562
Alliance Data Systems Corp., 6.375%, 4/1/20(1)		12,725		12,979,500

19 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Diversified Financial Services (continued)
Icahn Enterprises, L.P./Icahn Enterprises Finance Corp., 6.00%, 8/1/20	$	7,115	$	7,381,813
Icahn Enterprises, L.P./Icahn Enterprises Finance Corp., 6.25%, 2/1/22(1)		9,255		9,648,338
MSCI, Inc., 5.75%, 8/15/25(1)		5,390		5,834,675
Navient Corp., 4.875%, 6/17/19		1,245		1,288,451
Navient Corp., 5.50%, 1/15/19		12,170		12,672,012
Navient Corp., 6.50%, 6/15/22		10,105		10,458,675
Navient Corp., 7.25%, 1/25/22		1,240		1,325,250
Navient Corp., 8.00%, 3/25/20		10,785		11,890,462
Park Aerospace Holdings, Ltd., 5.25%, 8/15/22(1)		30,525		32,356,500
Park Aerospace Holdings, Ltd., 5.50%, 2/15/24(1)		17,915		18,989,900
			$	145,663,988
Diversified Media — 1.1%
Clear Channel Worldwide Holdings, Inc., Series A, 6.50%, 11/15/22	$	6,075	$	6,226,875
Clear Channel Worldwide Holdings, Inc., Series B, 6.50%, 11/15/22		11,805		12,291,956
Clear Channel Worldwide Holdings, Inc., Series A, 7.625%, 3/15/20		2,005		1,999,988
IAC/InterActiveCorp, 4.875%, 11/30/18		10,598		10,749,021
MDC Partners, Inc., 6.50%, 5/1/24(1)		24,130		23,647,400
National CineMedia, LLC, 6.00%, 4/15/22		8,240		8,507,800
Nielsen Co. Luxembourg S.a.r.l. (The), 5.50%, 10/1/21(1)		5,585		5,815,381
			$	69,238,421
Energy — 13.6%
AmeriGas Partners, L.P./AmeriGas Finance Corp., 5.50%, 5/20/25	$	11,360	$	11,530,400
AmeriGas Partners, L.P./AmeriGas Finance Corp., 5.625%, 5/20/24		2,720		2,781,200
AmeriGas Partners, L.P./AmeriGas Finance Corp., 5.75%, 5/20/27		6,660		6,709,950
AmeriGas Partners, L.P./AmeriGas Finance Corp., 5.875%, 8/20/26		5,505		5,615,100
Antero Midstream Partners L.P./Antero Midstream Finance Corp., 5.375%, 9/15/24(1)		8,495		8,728,612
Antero Resources Corp., 5.375%, 11/1/21		16,185		16,771,706
Antero Resources Corp., 5.625%, 6/1/23		13,015		13,454,256
Blue Racer Midstream, LLC/Blue Racer Finance Corp., 6.125%, 11/15/22(1)		3,580		3,682,925
Canbriam Energy, Inc., 9.75%, 11/15/19(1)		19,215		20,271,825
Cheniere Corpus Christi Holdings, LLC, 5.875%, 3/31/25(1)		15,580		16,651,125

Security	Principal Amount (000’s omitted)		Value
Energy (continued)
Cheniere Corpus Christi Holdings, LLC, 7.00%, 6/30/24(1)	$	17,635	$	19,793,171
Chesapeake Energy Corp., 8.00%, 12/15/22(1)		4,500		4,758,750
Concho Resources, Inc., 5.50%, 4/1/23		27,330		28,474,444
Continental Resources, Inc., 4.50%, 4/15/23		8,720		8,632,800
CrownRock, L.P./CrownRock Finance, Inc., 7.125%, 4/15/21(1)		14,435		14,958,269
CrownRock, L.P./CrownRock Finance, Inc., 7.75%, 2/15/23(1)		12,150		13,061,250
CVR Refining, LLC/Coffeyville Finance, Inc., 6.50%, 11/1/22		18,895		19,272,900
Denbury Resources, Inc., 5.50%, 5/1/22		3,545		2,658,750
Denbury Resources, Inc., 9.00%, 5/15/21(1)		16,725		17,728,500
Diamondback Energy, Inc., 4.75%, 11/1/24(1)		3,690		3,717,675
Diamondback Energy, Inc., 5.375%, 5/31/25(1)		10,360		10,774,400
Endeavor Energy Resources, L.P./EER Finance, Inc., 7.00%, 8/15/21(1)		20,580		21,506,100
Endeavor Energy Resources, L.P./EER Finance, Inc., 8.125%, 9/15/23(1)		16,191		17,324,370
Energy Transfer Equity, L.P., 5.875%, 1/15/24		17,880		19,355,100
Energy Transfer Equity, L.P., 7.50%, 10/15/20		7,970		9,021,044
EP Energy, LLC/Everest Acquisition Finance, Inc., 8.00%, 11/29/24(1)		6,610		6,948,762
EP Energy, LLC/Everest Acquisition Finance, Inc., 8.00%, 2/15/25(1)		6,860		6,139,700
Extraction Oil & Gas Holdings, LLC/Extraction Finance Corp., 7.875%, 7/15/21(1)		13,112		13,800,380
Great Western Petroleum, LLC/Great Western Finance Corp., 9.00%, 9/30/21(1)		15,380		15,995,200
Gulfport Energy Corp., 6.00%, 10/15/24(1)		21,885		21,666,150
Gulfport Energy Corp., 6.625%, 5/1/23		14,100		14,346,750
Halcon Resources Corp., 6.75%, 2/15/25(1)		15,460		14,918,900
Holly Energy Partners, L.P./Holly Energy Finance Corp., 6.00%, 8/1/24(1)		3,935		4,180,938
Matador Resources Co., 6.875%, 4/15/23		18,470		19,578,200
Murphy Oil Corp., 6.875%, 8/15/24		3,725		3,976,438
Newfield Exploration Co., 5.375%, 1/1/26		3,090		3,256,088
Newfield Exploration Co., 5.625%, 7/1/24		6,100		6,477,468
Noble Holding International, Ltd., 7.75%, 1/15/24		10,525		9,656,687
Oasis Petroleum, Inc., 6.50%, 11/1/21		3,205		3,253,075
Oasis Petroleum, Inc., 6.875%, 3/15/22		3,085		3,138,988
Oasis Petroleum, Inc., 6.875%, 1/15/23		16,210		16,453,150
Parsley Energy, LLC/Parsley Finance Corp., 5.25%, 8/15/25(1)		5,135		5,199,188
Parsley Energy, LLC/Parsley Finance Corp., 5.375%, 1/15/25(1)		9,390		9,530,850

20 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Energy (continued)
Parsley Energy, LLC/Parsley Finance Corp., 6.25%, 6/1/24(1)	$	10,105	$	10,736,562
PBF Holding Co., LLC/PBF Finance Corp., 7.00%, 11/15/23		11,400		11,628,000
PBF Holding Co., LLC/PBF Finance Corp., 8.25%, 2/15/20		12,485		12,797,125
PBF Logistics, L.P./PBF Logistics Finance Corp., 6.875%, 5/15/23		14,565		15,001,950
PDC Energy, Inc., 6.125%, 9/15/24(1)		2,630		2,708,900
Precision Drilling Corp., 6.50%, 12/15/21		1,700		1,729,750
Precision Drilling Corp., 6.625%, 11/15/20		1,163		1,186,368
Precision Drilling Corp., 7.75%, 12/15/23(1)		695		740,175
Resolute Energy Corp., 8.50%, 5/1/20		5,050		5,163,625
Rice Energy, Inc., 7.25%, 5/1/23		8,095		8,783,075
RSP Permian, Inc., 6.625%, 10/1/22		22,005		23,297,794
Seven Generations Energy, Ltd., 6.75%, 5/1/23(1)		32,610		34,729,650
Seven Generations Energy, Ltd., 6.875%, 6/30/23(1)		6,520		6,943,800
Seven Generations Energy, Ltd., 8.25%, 5/15/20(1)		21,740		22,827,000
SM Energy Co., 5.625%, 6/1/25		6,495		6,235,200
SM Energy Co., 6.125%, 11/15/22		8,100		8,262,000
SM Energy Co., 6.50%, 11/15/21		11,000		11,302,500
SM Energy Co., 6.50%, 1/1/23		10,125		10,327,500
SM Energy Co., 6.75%, 9/15/26		5,260		5,325,750
Southwestern Energy Co., 5.80%, 1/23/20		10,850		11,012,750
Southwestern Energy Co., 7.50%, 2/1/18		1,070		1,119,488
Sunoco, L.P./Sunoco Finance Corp., 6.375%, 4/1/23		5,015		5,353,513
Tervita Escrow Corp., 7.625%, 12/1/21(1)		12,545		12,952,712
Tesoro Corp., 5.375%, 10/1/22		11,035		11,531,575
Tesoro Logistics, L.P./Tesoro Logistics Finance Corp., 5.25%, 1/15/25		4,970		5,293,050
Tesoro Logistics, L.P./Tesoro Logistics Finance Corp., 5.50%, 10/15/19		3,100		3,301,500
Tesoro Logistics, L.P./Tesoro Logistics Finance Corp., 6.25%, 10/15/22		7,445		8,021,987
Tesoro Logistics, L.P./Tesoro Logistics Finance Corp., 6.375%, 5/1/24		6,250		6,859,375
Trinidad Drilling, Ltd., 6.625%, 2/15/25(1)		6,271		6,333,710
Unit Corp., 6.625%, 5/15/21		1,225		1,225,000
Weatherford International, Ltd., 8.25%, 6/15/23		2,745		2,981,756
Weatherford International, Ltd., 9.875%, 2/15/24(1)		6,340		7,417,800
Whiting Petroleum Corp., 5.00%, 3/15/19		2,925		2,968,875
Whiting Petroleum Corp., 5.75%, 3/15/21		1,725		1,725,000
WildHorse Resource Development Corp., 6.875%, 2/1/25(1)		18,045		17,368,312
Williams Cos., Inc. (The), 3.70%, 1/15/23		12,106		11,984,940
Williams Cos., Inc. (The), 4.55%, 6/24/24		10,100		10,390,375

Security	Principal Amount (000’s omitted)		Value
Energy (continued)
Williams Cos., Inc. (The), 5.75%, 6/24/44	$	9,745	$	10,134,800
Williams Partners, L.P./ACMP Finance Corp., 4.875%, 3/15/24		12,015		12,495,600
WPX Energy, Inc., 7.50%, 8/1/20		6,372		6,786,180
			$	852,736,556
Entertainment / Film — 0.2%
AMC Entertainment Holdings, Inc., 5.875%, 11/15/26(1)	$	5,700	$	5,817,563
Regal Entertainment Group, 5.75%, 3/15/22		5,440		5,698,400
			$	11,515,963
Environmental — 0.7%
Advanced Disposal Services, Inc., 5.625%, 11/15/24(1)	$	10,625	$	10,957,031
Clean Harbors, Inc., 5.125%, 6/1/21		3,865		3,963,210
Covanta Holding Corp., 5.875%, 3/1/24		4,780		4,815,850
Covanta Holding Corp., 5.875%, 7/1/25		6,605		6,605,000
Covanta Holding Corp., 6.375%, 10/1/22		11,430		11,787,187
GFL Environmental, Inc., 9.875%, 2/1/21(1)		3,280		3,542,400
			$	41,670,678
Food & Drug Retail — 0.9%
AdvancePierre Foods Holdings, Inc., 5.50%, 12/15/24(1)	$	7,870	$	8,794,725
Albertsons Cos., LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s, LLC, 5.75%, 3/15/25(1)		8,670		8,453,250
Albertsons Cos., LLC/Safeway, Inc./New Albertson’s, Inc./Albertson’s, LLC, 6.625%, 6/15/24(1)		6,175		6,329,375
New Albertsons, Inc., 8.00%, 5/1/31		2,350		2,303,000
Rite Aid Corp., 6.125%, 4/1/23(1)		26,925		26,790,375
Safeway, Inc., 7.25%, 2/1/31		715		695,337
			$	53,366,062
Food / Beverage / Tobacco — 2.7%
Chobani, LLC/Chobani Finance Corp., Inc., 7.50%, 4/15/25(1)	$	3,540	$	3,663,900
Dean Foods Co., 6.50%, 3/15/23(1)		29,795		31,508,212
Dole Food Co., Inc., 7.25%, 6/15/25(1)		14,120		14,702,450
Nature’s Bounty Co. (The), 7.625%, 5/15/21(1)		23,715		25,256,475
Performance Food Group, Inc., 5.50%, 6/1/24(1)		1,795		1,862,313
Pinnacle Foods Finance, LLC/Pinnacle Foods Finance Corp., 5.875%, 1/15/24		4,510		4,831,337

21 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Food / Beverage / Tobacco (continued)
Post Holdings, Inc., 5.00%, 8/15/26(1)	$	15,190	$	15,152,025
Post Holdings, Inc., 5.50%, 3/1/25(1)		15,390		16,159,500
Post Holdings, Inc., 6.00%, 12/15/22(1)		4,205		4,504,606
Post Holdings, Inc., 7.75%, 3/15/24(1)		7,925		8,846,281
Post Holdings, Inc., 8.00%, 7/15/25(1)		3,965		4,530,013
TreeHouse Foods, Inc., 6.00%, 2/15/24(1)		19,170		20,511,900
US Foods, Inc., 5.875%, 6/15/24(1)		12,770		13,408,500
WhiteWave Foods Co. (The), 5.375%, 10/1/22		4,380		4,927,500
			$	169,865,012
Gaming — 2.5%
Buffalo Thunder Development Authority, 11.00%, 12/9/22(1)	$	5,297	$	2,198,441
Eldorado Resorts, Inc., 6.00%, 4/1/25(1)		3,580		3,714,250
GLP Capital, L.P./GLP Financing II, Inc., 4.375%, 4/15/21		3,030		3,181,500
GLP Capital, L.P./GLP Financing II, Inc., 4.875%, 11/1/20		10,445		11,176,150
GLP Capital, L.P./GLP Financing II, Inc., 5.375%, 4/15/26		10,365		10,960,987
International Game Technology PLC, 6.50%, 2/15/25(1)		3,560		3,916,000
MGM Growth Properties Operating Partnership, L.P./MGP Finance Co-Issuer, Inc., 4.50%, 9/1/26		7,980		7,989,975
MGM Growth Properties Operating Partnership, L.P./MGP Finance Co-Issuer, Inc., 5.625%, 5/1/24		9,075		9,835,031
MGM Resorts International, 6.00%, 3/15/23		12,500		13,687,500
MGM Resorts International, 6.625%, 12/15/21		6,220		6,997,500
MGM Resorts International, 7.75%, 3/15/22		24,755		28,901,462
Penn National Gaming, Inc., 5.625%, 1/15/27(1)		3,630		3,666,300
Scientific Games International, Inc., 7.00%, 1/1/22(1)		10,765		11,552,137
Scientific Games International, Inc., 10.00%, 12/1/22		8,980		9,761,260
Station Casinos, LLC, 7.50%, 3/1/21		4,298		4,486,038
Studio City Co., Ltd., 7.25%, 11/30/21(1)		6,755		7,258,247
Sugarhouse HSP Gaming Property, L.P./Sugarhouse HSP Gaming Finance Corp., 5.875%, 5/15/25(1)(5)		10,140		10,178,025
Sugarhouse HSP Gaming Property, L.P./Sugarhouse HSP Gaming Finance Corp., 6.375%, 6/1/21(1)		5,300		5,405,073
Tunica-Biloxi Gaming Authority, 9.00%, 11/15/15(1)(6)		9,455		3,545,625
			$	158,411,501
Health Care — 9.5%
Acadia Healthcare Co., Inc., 5.625%, 2/15/23	$	1,450	$	1,507,623
Acadia Healthcare Co., Inc., 6.50%, 3/1/24		4,885		5,190,313
Alere, Inc., 6.375%, 7/1/23(1)		9,674		10,580,937
Alere, Inc., 6.50%, 6/15/20		11,900		12,227,250

Security	Principal Amount (000’s omitted)		Value
Health Care (continued)
Alere, Inc., 7.25%, 7/1/18	$	2,470	$	2,496,244
Centene Corp., 4.75%, 5/15/22		4,335		4,519,238
Centene Corp., 4.75%, 1/15/25		18,525		18,872,344
Centene Corp., 5.625%, 2/15/21		9,335		9,836,756
Centene Corp., 6.125%, 2/15/24		9,335		10,081,800
CHS/Community Health Systems, Inc., 6.25%, 3/31/23		23,205		23,698,106
CHS/Community Health Systems, Inc., 7.125%, 7/15/20		13,765		12,405,706
Eagle Holding Co. II, LLC, 7.625%, 5/15/22(1)(4)(5)		9,975		10,199,438
Envision Healthcare Corp., 5.625%, 7/15/22		9,090		9,411,786
Envision Healthcare Corp., 6.25%, 12/1/24(1)		13,245		13,973,475
Fresenius Medical Care US Finance II, Inc., 5.625%, 7/31/19(1)		6,375		6,829,219
Fresenius Medical Care US Finance II, Inc., 5.875%, 1/31/22(1)		5,315		5,853,144
HCA, Inc., 4.50%, 2/15/27		2,650		2,681,774
HCA, Inc., 5.25%, 6/15/26		18,460		19,729,125
HCA, Inc., 5.875%, 2/15/26		13,250		14,111,250
HCA, Inc., 6.50%, 2/15/20		12,235		13,459,234
HCA, Inc., 7.50%, 2/15/22		10,400		11,990,160
HCA Healthcare, Inc., 6.25%, 2/15/21		18,865		20,515,687
Hologic, Inc., 5.25%, 7/15/22(1)		14,540		15,376,050
inVentiv Group Holdings, Inc./inVentiv Health, Inc./inVentiv Health Clinical, Inc., 7.50%, 10/1/24(1)		18,450		19,141,875
Jaguar Holding Co. II/Pharmaceutical Product Development, LLC, 6.375%, 8/1/23(1)		32,260		33,711,700
Kinetic Concepts, Inc./KCI USA, Inc., 7.875%, 2/15/21(1)		8,735		9,335,531
Kinetic Concepts, Inc./KCI USA, Inc., 12.50%, 11/1/21(1)		7,855		8,836,875
MEDNAX, Inc., 5.25%, 12/1/23(1)		6,980		7,154,500
MPH Acquisition Holdings, LLC, 7.125%, 6/1/24(1)		55,645		59,957,487
Opal Acquisition, Inc., 8.875%, 12/15/21(1)		8,430		7,776,675
PRA Holdings, Inc., 9.50%, 10/1/23(1)		10,289		11,420,790
Surgical Care Affiliates, Inc., 6.00%, 4/1/23(1)		13,242		14,355,652
Teleflex, Inc., 4.875%, 6/1/26		3,585		3,656,700
Teleflex, Inc., 5.25%, 6/15/24		4,200		4,347,000
Tenet Healthcare Corp., 6.00%, 10/1/20		7,755		8,181,525
Tenet Healthcare Corp., 6.75%, 6/15/23		4,275		4,093,313
Tenet Healthcare Corp., 7.50%, 1/1/22(1)		5,135		5,507,288
Tenet Healthcare Corp., 8.125%, 4/1/22		27,335		27,881,700
Valeant Pharmaceuticals International, Inc., 5.625%, 12/1/21(1)		5,520		4,271,100
Valeant Pharmaceuticals International, Inc., 5.875%, 5/15/23(1)		13,520		10,055,500

22 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Health Care (continued)
Valeant Pharmaceuticals International, Inc., 6.375%, 10/15/20(1)	$	38,705	$	33,431,444
Valeant Pharmaceuticals International, Inc., 6.50%, 3/15/22(1)		12,820		13,156,525
Valeant Pharmaceuticals International, Inc., 6.75%, 8/15/18(1)		312		311,805
Valeant Pharmaceuticals International, Inc., 7.00%, 3/15/24(1)		18,025		18,430,562
Valeant Pharmaceuticals International, Inc., 7.50%, 7/15/21(1)		7,980		6,643,350
WellCare Health Plans, Inc., 5.25%, 4/1/25		25,035		26,098,987
			$	593,304,543
Homebuilders / Real Estate — 1.0%
Greystar Real Estate Partners, LLC, 8.25%, 12/1/22(1)	$	12,660	$	13,736,100
Mattamy Group Corp., 6.875%, 12/15/23(1)		18,800		19,599,000
TRI Pointe Group, Inc./TRI Pointe Homes, Inc., 4.375%, 6/15/19		9,190		9,511,650
TRI Pointe Group, Inc./TRI Pointe Homes, Inc., 5.875%, 6/15/24		12,555		13,276,912
William Lyon Homes, Inc., 5.875%, 1/31/25(1)		3,845		3,950,738
			$	60,074,400
Hotels — 0.5%
ESH Hospitality, Inc., 5.25%, 5/1/25(1)	$	15,150	$	15,377,250
Hilton Domestic Operating Co., Inc., 4.25%, 9/1/24(1)		10,600		10,706,000
RHP Hotel Properties, L.P./RHP Finance Corp., 5.00%, 4/15/23		6,190		6,344,750
			$	32,428,000
Insurance — 1.0%
Alliant Holdings Intermediate, LLC, 8.25%, 8/1/23(1)	$	21,475	$	22,980,934
Hub Holdings, LLC/Hub Holdings Finance, Inc., 8.125%, 7/15/19(1)(4)		11,950		12,054,563
Hub International, Ltd., 7.875%, 10/1/21(1)		11,815		12,407,522
USI, Inc., 7.75%, 1/15/21(1)		16,115		16,446,969
			$	63,889,988
Leisure — 0.7%
NCL Corp., Ltd., 4.625%, 11/15/20(1)	$	11,585	$	11,932,550
NCL Corp., Ltd., 4.75%, 12/15/21(1)		10,135		10,413,713
Royal Caribbean Cruises, Ltd., 7.25%, 3/15/18		4,390		4,598,525
Viking Cruises, Ltd., 6.25%, 5/15/25(1)		8,680		8,397,900
Viking Cruises, Ltd., 8.50%, 10/15/22(1)		10,590		11,093,025
			$	46,435,713

Security	Principal Amount (000’s omitted)		Value
Metals / Mining — 3.4%
Alcoa Nederland Holding B.V., 6.75%, 9/30/24(1)	$	5,255	$	5,775,245
Eldorado Gold Corp., 6.125%, 12/15/20(1)		25,725		26,561,062
First Quantum Minerals, Ltd., 7.00%, 2/15/21(1)		5,005		5,205,200
First Quantum Minerals, Ltd., 7.25%, 5/15/22(1)		8,410		8,704,350
First Quantum Minerals, Ltd., 7.25%, 4/1/23(1)		7,775		7,935,359
First Quantum Minerals, Ltd., 7.50%, 4/1/25(1)		28,075		28,706,687
Freeport-McMoRan, Inc., 3.10%, 3/15/20		2,875		2,849,844
Freeport-McMoRan, Inc., 4.55%, 11/14/24		5,915		5,586,718
Hudbay Minerals, Inc., 7.25%, 1/15/23(1)		7,640		8,165,250
Hudbay Minerals, Inc., 7.625%, 1/15/25(1)		13,720		14,766,150
Imperial Metals Corp., 7.00%, 3/15/19(1)		4,715		4,473,356
Lundin Mining Corp., 7.875%, 11/1/22(1)		3,665		4,045,244
New Gold, Inc., 6.25%, 11/15/22(1)		18,590		19,054,750
Novelis Corp., 5.875%, 9/30/26(1)		11,570		11,917,100
Novelis Corp., 6.25%, 8/15/24(1)		7,970		8,448,200
Peabody Energy Corp., 6.00%, 3/31/22(1)		4,245		4,345,819
Peabody Energy Corp., 6.375%, 3/31/25(1)		5,330		5,443,263
SunCoke Energy, Inc., 7.625%, 8/1/19		326		322,740
SunCoke Energy Partners, L.P./SunCoke Energy Partners Finance Corp., 7.375%, 2/1/20		16,730		17,231,900
Teck Resources, Ltd., 5.20%, 3/1/42		2,365		2,268,934
Teck Resources, Ltd., 5.40%, 2/1/43		5,275		5,156,313
Teck Resources, Ltd., 6.00%, 8/15/40		2,655		2,744,606
Teck Resources, Ltd., 8.50%, 6/1/24(1)		8,670		10,068,037
			$	209,776,127
Paper — 0.0%(7)
Domtar Corp., 10.75%, 6/1/17	$	1,855	$	1,865,575
			$	1,865,575
Publishing / Printing — 0.2%
McGraw-Hill Global Education Holdings, LLC/McGraw-Hill Global Education Finance, 7.875%, 5/15/24(1)	$	12,150	$	11,876,625
MHGE Parent, LLC/MHGE Parent Finance, Inc., 8.50%, 8/1/19(1)(4)		2,010		2,035,125
			$	13,911,750
Railroad — 0.3%
Watco Cos., LLC/Watco Finance Corp., 6.375%, 4/1/23(1)	$	16,180	$	16,827,200
			$	16,827,200

23 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Restaurants — 1.3%
1011778 B.C. ULC/New Red Finance, Inc., 4.625%, 1/15/22(1)	$	17,095	$	17,655,716
1011778 B.C. ULC/New Red Finance, Inc., 6.00%, 4/1/22(1)		26,595		27,791,775
Landry’s, Inc., 6.75%, 10/15/24(1)		11,565		12,143,250
NPC International, Inc./NPC Quality Burgers, Inc./NPC Operating Company B, Inc., 10.50%, 1/15/20		10,535		10,867,379
Yum! Brands, Inc., 3.75%, 11/1/21		8,320		8,496,800
Yum! Brands, Inc., 3.875%, 11/1/20		3,280		3,383,812
Yum! Brands, Inc., 3.875%, 11/1/23		1,170		1,159,763
Yum! Brands, Inc., 5.30%, 9/15/19		2,623		2,790,216
			$	84,288,711
Services — 4.9%
BlueLine Rental Finance Corp./BlueLine Rental, LLC, 9.25%, 3/15/24(1)	$	10,165	$	10,635,131
Carlson Travel, Inc., 6.75%, 12/15/23(1)		9,120		9,444,854
Carlson Travel, Inc., 9.50%, 12/15/24(1)		7,510		7,772,850
Cloud Crane, LLC, 10.125%, 8/1/24(1)		9,635		10,309,450
Deck Chassis Acquisition, Inc., 10.00%, 6/15/23(1)		13,300		14,613,375
FTI Consulting, Inc., 6.00%, 11/15/22		8,505		8,919,619
Gartner, Inc., 5.125%, 4/1/25(1)		10,020		10,395,750
Hertz Corp. (The), 5.50%, 10/15/24(1)		7,255		6,257,438
Hertz Corp. (The), 6.25%, 10/15/22		3,020		2,801,050
IHS Markit, Ltd., 5.00%, 11/1/22(1)		9,300		9,985,875
Laureate Education, Inc., 8.25%, 5/1/25(1)		20,025		20,625,750
Laureate Education, Inc., 9.25%, 9/1/19(1)		32,200		33,890,500
Laureate Education, Inc., 9.25%, 9/1/19		18,575		19,170,329
Prime Security Services Borrower, LLC/Prime Finance, Inc., 9.25%, 5/15/23(1)		17,425		19,080,375
Reliance Intermediate Holdings, L.P., 6.50%, 4/1/23(1)		26,505		28,757,925
Ritchie Bros Auctioneers, Inc., 5.375%, 1/15/25(1)		5,305		5,490,675
Sabre GLBL, Inc., 5.25%, 11/15/23(1)		10,955		11,393,200
Sabre GLBL, Inc., 5.375%, 4/15/23(1)		4,325		4,519,625
ServiceMaster Co., LLC (The), 7.45%, 8/15/27		19,140		20,920,020
Team Health Holdings, Inc., 6.375%, 2/1/25(1)		15,420		15,092,325
TMS International Corp., 7.625%, 10/15/21(1)		12,245		12,398,062
United Rentals North America, Inc., 5.50%, 5/15/27		2,245		2,315,156
United Rentals North America, Inc., 6.125%, 6/15/23		1,615		1,691,713
United Rentals North America, Inc., 7.625%, 4/15/22		5,747		6,012,799
Vizient, Inc., 10.375%, 3/1/24(1)		10,690		12,266,775
			$	304,760,621
Steel — 0.4%
Allegheny Technologies, Inc., 5.95%, 1/15/21	$	3,490	$	3,472,550

Security	Principal Amount (000’s omitted)		Value
Steel (continued)
Allegheny Technologies, Inc., 7.875%, 8/15/23	$	8,295	$	8,595,694
ArcelorMittal, 7.00%, 2/25/22		3,775		4,298,781
United States Steel Corp., 8.375%, 7/1/21(1)		8,985		9,917,194
Zekelman Industries, Inc., 9.875%, 6/15/23(1)		1,060		1,200,450
			$	27,484,669
Super Retail — 2.2%
Dollar Tree, Inc., 5.25%, 3/1/20	$	9,275	$	9,553,250
Dollar Tree, Inc., 5.75%, 3/1/23		21,435		22,849,710
Hot Topic, Inc., 9.25%, 6/15/21(1)		16,470		16,840,575
L Brands, Inc., 6.875%, 11/1/35		12,970		12,853,270
L Brands, Inc., 8.50%, 6/15/19		12,810		14,347,200
Michaels Stores, Inc., 5.875%, 12/15/20(1)		6,650		6,832,875
Murphy Oil USA, Inc., 5.625%, 5/1/27		4,050		4,161,375
Murphy Oil USA, Inc., 6.00%, 8/15/23		6,605		6,968,275
Party City Holdings, Inc., 6.125%, 8/15/23(1)		13,190		13,651,650
PVH Corp., 7.75%, 11/15/23		13,090		15,380,750
Sally Holdings, LLC/Sally Capital, Inc., 5.625%, 12/1/25		8,115		8,419,312
Sally Holdings, LLC/Sally Capital, Inc., 5.75%, 6/1/22		4,245		4,382,963
			$	136,241,205
Technology — 8.4%
Avaya, Inc., 9.00%, 4/1/19(1)(6)	$	11,110	$	9,387,950
Camelot Finance S.A., 7.875%, 10/15/24(1)		8,395		9,024,625
CommScope Technologies, LLC, 5.00%, 3/15/27(1)		10,155		10,269,244
CommScope Technologies, LLC, 6.00%, 6/15/25(1)		14,235		15,249,244
Dell International, LLC/EMC Corp., 5.45%, 6/15/23(1)		8,730		9,441,844
Dell International, LLC/EMC Corp., 5.875%, 6/15/21(1)		13,500		14,343,750
Dell International, LLC/EMC Corp., 6.02%, 6/15/26(1)		23,105		25,494,311
Dell International, LLC/EMC Corp., 7.125%, 6/15/24(1)		17,365		19,203,450
First Data Corp., 5.00%, 1/15/24(1)		12,420		12,749,130
First Data Corp., 5.375%, 8/15/23(1)		15,405		16,059,713
First Data Corp., 5.75%, 1/15/24(1)		3,860		4,019,225
First Data Corp., 7.00%, 12/1/23(1)		47,970		51,553,359
Infor (US), Inc., 5.75%, 8/15/20(1)		5,090		5,322,231
Infor (US), Inc., 6.50%, 5/15/22		14,365		15,011,425
Infor Software Parent, LLC/Infor Software Parent, Inc., 7.125%, 5/1/21(1)(4)		13,285		13,643,695
Match Group, Inc., 6.375%, 6/1/24		6,945		7,587,413
Micron Technology, Inc., 5.25%, 8/1/23(1)		7,195		7,482,800
Micron Technology, Inc., 5.50%, 2/1/25		147		154,350
Micron Technology, Inc., 7.50%, 9/15/23		20,455		22,960,737
Microsemi Corp., 9.125%, 4/15/23(1)		14,470		16,712,850

24 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Security	Principal Amount (000’s omitted)		Value
Technology (continued)
Nuance Communications, Inc., 5.375%, 8/15/20(1)	$	2,151	$	2,198,053
NXP B.V./NXP Funding, LLC, 4.125%, 6/1/21(1)		11,340		11,892,825
NXP B.V./NXP Funding, LLC, 4.625%, 6/1/23(1)		8,295		8,948,231
Rackspace Hosting, Inc., 8.625%, 11/15/24(1)		8,680		9,211,650
Riverbed Technology, Inc., 8.875%, 3/1/23(1)		21,405		22,154,175
Sensata Technologies UK Financing Co. PLC, 6.25%, 2/15/26(1)		16,935		18,416,813
Solera, LLC/Solera Finance, Inc., 10.50%, 3/1/24(1)		15,945		18,276,956
SS&C Technologies Holdings, Inc., 5.875%, 7/15/23		12,970		13,845,475
Symantec Corp., 5.00%, 4/15/25(1)		7,590		7,865,138
Tempo Acquisition, LLC/Tempo Acquisition Finance Corp., 6.75%, 6/1/25(1)(5)		7,520		7,745,600
Veritas US, Inc./Veritas Bermuda, Ltd., 7.50%, 2/1/23(1)		18,145		19,188,338
Western Digital Corp., 7.375%, 4/1/23(1)		29,115		31,953,712
Western Digital Corp., 10.50%, 4/1/24		27,405		32,406,412
Zebra Technologies Corp., 7.25%, 10/15/22		30,495		33,048,956
			$	522,823,680
Telecommunications — 7.7%
CenturyLink, Inc., 6.75%, 12/1/23	$	8,545	$	9,185,875
CenturyLink, Inc., 7.50%, 4/1/24		19,165		20,865,894
Cincinnati Bell, Inc., 7.00%, 7/15/24(1)		5,240		5,559,640
Digicel, Ltd., 6.00%, 4/15/21(1)		14,650		13,990,750
Digicel, Ltd., 6.75%, 3/1/23(1)		8,490		8,118,563
Equinix, Inc., 5.375%, 5/15/27		7,730		8,095,552
Equinix, Inc., 5.875%, 1/15/26		16,660		17,992,800
Frontier Communications Corp., 6.25%, 9/15/21		11,985		11,146,050
Frontier Communications Corp., 6.875%, 1/15/25		9,340		7,868,950
Frontier Communications Corp., 7.625%, 4/15/24		2,695		2,324,438
Frontier Communications Corp., 8.875%, 9/15/20		7,595		8,045,915
Frontier Communications Corp., 10.50%, 9/15/22		16,585		16,771,581
Frontier Communications Corp., 11.00%, 9/15/25		7,375		7,144,531
Hughes Satellite Systems Corp., 5.25%, 8/1/26(1)		9,375		9,562,500
Hughes Satellite Systems Corp., 6.50%, 6/15/19		11,723		12,719,455
Hughes Satellite Systems Corp., 6.625%, 8/1/26(1)		10,660		10,979,800
Intelsat Jackson Holdings S.A., 5.50%, 8/1/23		10,495		9,012,581
Intelsat Jackson Holdings S.A., 7.25%, 10/15/20		19,455		18,311,046
Intelsat Jackson Holdings S.A., 7.50%, 4/1/21		900		828,000
Intelsat Jackson Holdings S.A., 8.00%, 2/15/24(1)		8,090		8,747,313
Level 3 Financing, Inc., 5.25%, 3/15/26		8,495		8,782,386
Level 3 Financing, Inc., 5.375%, 1/15/24		6,180		6,438,571
SBA Communications Corp., 4.875%, 9/1/24(1)		3,320		3,357,350
Sprint Capital Corp., 6.875%, 11/15/28		8,840		9,613,500
Sprint Communications, Inc., 6.00%, 11/15/22		1,245		1,300,247

Security	Principal Amount (000’s omitted)		Value
Telecommunications (continued)
Sprint Communications, Inc., 7.00%, 8/15/20	$	19,670	$	21,366,537
Sprint Communications, Inc., 9.00%, 11/15/18(1)		28,115		30,821,069
Sprint Communications, Inc., 9.25%, 4/15/22		2,000		2,430,000
Sprint Corp., 7.125%, 6/15/24		7,445		8,115,050
Sprint Corp., 7.25%, 9/15/21		23,335		25,580,994
Sprint Corp., 7.625%, 2/15/25		14,960		16,736,500
Sprint Corp., 7.875%, 9/15/23		42,055		47,311,875
T-Mobile USA, Inc., 6.375%, 3/1/25		4,120		4,512,718
T-Mobile USA, Inc., 6.50%, 1/15/26		26,780		29,759,275
T-Mobile USA, Inc., 6.625%, 4/1/23		11,280		12,083,700
Uniti Group, Inc./CSL Capital, LLC, 8.25%, 10/15/23		2,480		2,659,031
Wind Acquisition Finance S.A., 4.75%, 7/15/20(1)		19,610		20,026,712
Zayo Group, LLC/Zayo Capital, Inc., 5.75%, 1/15/27(1)		6,385		6,792,044
Zayo Group, LLC/Zayo Capital, Inc., 6.00%, 4/1/23		8,780		9,372,650
Zayo Group, LLC/Zayo Capital, Inc., 6.375%, 5/15/25		6,060		6,575,100
			$	480,906,543
Transportation Ex Air / Rail — 0.6%
CEVA Group, PLC, 7.00%, 3/1/21(1)	$	2,540	$	2,286,000
CEVA Group, PLC, 9.00%, 9/1/21(1)		9,200		7,084,000
XPO Logistics, Inc., 6.125%, 9/1/23(1)		5,325		5,611,219
XPO Logistics, Inc., 6.50%, 6/15/22(1)		19,315		20,522,187
			$	35,503,406
Utilities — 1.7%
AES Corp. (The), 5.50%, 3/15/24	$	5,981	$	6,175,383
AES Corp. (The), 5.50%, 4/15/25		1,030		1,060,900
AES Corp. (The), 6.00%, 5/15/26		15,975		16,913,531
Calpine Corp., 5.25%, 6/1/26(1)		3,190		3,225,888
Calpine Corp., 5.375%, 1/15/23		2,755		2,727,450
Dynegy, Inc., 6.75%, 11/1/19		10,685		10,898,700
Dynegy, Inc., 7.375%, 11/1/22		9,265		8,917,562
Dynegy, Inc., 7.625%, 11/1/24		7,035		6,472,200
NRG Energy, Inc., 7.25%, 5/15/26		14,370		14,765,175
NRG Energy, Inc., 7.875%, 5/15/21		1,673		1,723,190
NRG Yield Operating, LLC, 5.00%, 9/15/26(1)		12,835		12,642,475
NRG Yield Operating, LLC, 5.375%, 8/15/24		8,490		8,723,475
Pattern Energy Group, Inc., 5.875%, 2/1/24(1)		7,680		7,920,000
TerraForm Power Operating, LLC, 6.375%, 2/1/23(1)		1,470		1,525,125
TerraForm Power Operating, LLC, 6.625%, 6/15/25(1)		4,530		4,813,125
			$	108,504,179
Total Corporate Bonds & Notes (identified cost $5,232,837,393)			$	5,456,392,935

25 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Senior Floating-Rate Loans — 7.0%(8)
Borrower/Tranche Description	Principal Amount (000’s omitted)		Value
Automotive & Auto Parts — 0.0%(7)
American Tire Distributors Holdings, Inc., Term Loan, 5.25%, Maturing 9/1/21	$	3,011	$	3,011,821
			$	3,011,821
Capital Goods — 0.1%
Cortes NP Acquisition Corporation, Term Loan, 5.03%, Maturing 11/30/23	$	8,854	$	8,923,380
			$	8,923,380
Chemicals — 0.1%
Alpha 3 B.V., Term Loan, 4.15%, Maturing 1/31/24	$	3,130	$	3,152,498
			$	3,152,498
Diversified Financial Services — 0.2%
Avolon TLB Borrower 1 (Luxembourg) S.a.r.l., Term Loan, 3.74%, Maturing 3/20/22	$	11,975	$	12,169,630
			$	12,169,630
Energy — 0.4%
Chesapeake Energy Corporation, Term Loan, 8.55%, Maturing 8/23/21	$	23,545	$	25,477,644
			$	25,477,644
Food & Drug Retail — 0.1%
Rite Aid Corporation, Term Loan - Second Lien, 5.75%, Maturing 8/21/20	$	6,500	$	6,533,312
			$	6,533,312
Food / Beverage / Tobacco — 0.1%
Nature’s Bounty Co. (The), Term Loan, 4.65%, Maturing 5/5/23	$	7,424	$	7,465,753
			$	7,465,753
Gaming — 0.5%
Gateway Casinos & Entertainment Limited, Term Loan, 4.80%, Maturing 2/22/23	$	3,000	$	3,044,064
GLP Financing, LLC, Term Loan, 2.74%, Maturing 4/29/21		13,850		13,746,125
Lago Resort & Casino, LLC, Term Loan, 10.50%, Maturing 3/7/22		16,220		16,301,100
			$	33,091,289

Borrower/Tranche Description	Principal Amount (000’s omitted)		Value
Health Care — 1.0%
inVentiv Health, Inc., Term Loan, 4.80%, Maturing 11/9/23	$	12,174	$	12,262,947
MPH Acquisition Holdings, LLC, Term Loan, 4.90%, Maturing 6/7/23		15,273		15,489,552
Press Ganey Holdings, Inc., Term Loan, 4.25%, Maturing 10/21/23		16,813		16,849,649
Press Ganey Holdings, Inc., Term Loan - Second Lien, 8.25%, Maturing 10/21/24		12,770		13,057,325
Vizient, Inc., Term Loan, 5.00%, Maturing 2/13/23		3,506		3,531,049
			$	61,190,522
Metals / Mining — 0.3%
FMG Resources (August 2006) Pty. Ltd., Term Loan, 3.75%, Maturing 6/30/19	$	5,680	$	5,721,608
Peabody Energy Corporation, Term Loan, 5.50%, Maturing 3/31/22		12,300		12,356,371
			$	18,077,979
Publishing / Printing — 0.1%
McGraw-Hill Global Education Holdings, LLC, Term Loan, 5.00%, Maturing 5/4/22	$	7,199	$	7,129,730
			$	7,129,730
Services — 0.5%
Advantage Sales & Marketing, Inc., Term Loan - Second Lien, 7.50%, Maturing 7/25/22	$	19,715	$	18,926,400
Brickman Group, Ltd., LLC, Term Loan - Second Lien, 7.50%, Maturing 12/17/21		12,846		12,926,213
			$	31,852,613
Super Retail — 0.7%
National Vision, Inc., Term Loan, 4.00%, Maturing 3/12/21	$	19,788	$	19,829,218
National Vision, Inc., Term Loan - Second Lien, 6.75%, Maturing 3/11/22		10,000		9,766,670
PetSmart, Inc., Term Loan, 4.02%, Maturing 3/11/22		12,291		11,346,180
rue21, Inc., Term Loan, 0.00%, Maturing 10/9/20(6)		18,502		3,052,804
			$	43,994,872
Technology — 1.3%
EIG Investors Corp., Term Loan, 6.04%, Maturing 2/9/23	$	26,089	$	26,306,742
EIG Investors Corp., Term Loan, 6.53%, Maturing 11/9/19		8,065		8,123,332
Misys Europe S.A., Term Loan, Maturing 4/27/24(9)		6,185		6,154,075

26 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Borrower/Tranche Description	Principal Amount (000’s omitted)		Value
Technology (continued)
Riverbed Technology, Inc., Term Loan, 4.25%, Maturing 4/24/22	$	3,006	$	3,004,731
SkillSoft Corporation, Term Loan - Second Lien, 9.25%, Maturing 4/28/22		1,050		788,025
Solera, LLC, Term Loan, 4.25%, Maturing 3/3/23		12,783		12,886,618
Veritas US, Inc., Term Loan, 6.77%, Maturing 1/27/23		21,416		21,338,287
			$	78,601,810
Telecommunications — 1.2%
Asurion, LLC, Term Loan, 4.25%, Maturing 8/4/22	$	4,814	$	4,853,365
Asurion, LLC, Term Loan - Second Lien, 8.50%, Maturing 3/3/21		45,550		46,356,600
Intelsat Jackson Holdings S.A., Term Loan, 3.89%, Maturing 6/30/19		8,210		8,126,192
Lonestar Intermediate Super Holdings, LLC, Term Loan, 10.00%, (10.00% Cash, 0.00% PIK), Maturing 8/31/21		15,610		16,253,913
			$	75,590,070
Transportation Ex Air / Rail — 0.1%
CEVA Group PLC, Term Loan, 6.50%, Maturing 3/19/21	$	2,451	$	2,158,922
CEVA Intercompany B.V., Term Loan, 6.67%, Maturing 3/19/21		1,883		1,658,715
CEVA Logistics Canada, ULC, Term Loan, 6.67%, Maturing 3/19/21		325		285,985
CEVA Logistics US Holdings, Inc., Term Loan, 6.67%, Maturing 3/19/21		2,598		2,287,883
			$	6,391,505
Utilities — 0.3%
Energy Future Intermediate Holding Co., LLC, DIP Loan, 4.30%, Maturing 6/30/17	$	17,456	$	17,572,440
			$	17,572,440
Total Senior Floating-Rate Loans (identified cost $448,403,744)			$	440,226,868

Convertible Bonds — 0.4%
Security	Principal Amount (000’s omitted)		Value
Utilities — 0.4%
NRG Yield, Inc., 3.25%, 6/1/20(1)	$	14,680	$	14,505,675
NRG Yield, Inc., 3.50%, 2/1/19(1)		10,630		10,849,244
Total Convertible Bonds (identified cost $23,655,510)			$	25,354,919
Commercial Mortgage-Backed Securities — 0.1%
Security	Principal Amount (000’s omitted)		Value
Motel 6 Trust, Series 2015-MTL6, Class E, 5.279%, 2/5/30(1)	$	8,101	$	8,165,805
Total Commercial Mortgage-Backed Securities (identified cost $7,901,586)			$	8,165,805
Common Stocks — 0.5%
Security	Shares		Value
Consumer Products — 0.0%(7)
HF Holdings, Inc.(10)(11)(12)		3,400	$	52,156
			$	52,156
Energy — 0.5%
Ascent CNR Corp., Class A(10)(11)(12)		32,029,863	$	7,174,689
Bonanza Creek Energy, Inc.(11)(12)		256,308		11,217,114
Nine Point Energy Holdings, Inc.(1)(11)(12)		129,963		1,911,224
Patterson-UTI Energy, Inc.		312,380		6,749,139
Seven Generations Energy, Ltd., Class A(12)		251,036		4,444,921
			$	31,497,087
Gaming — 0.0%(7)
New Cotai Participation Corp., Class B(10)(11)(12)		36	$	251,460
			$	251,460
Total Common Stocks (identified cost $38,700,393)			$	31,800,703

27 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Convertible Preferred Stocks — 0.1%
Security	Shares		Value
Energy — 0.1%
Nine Point Energy Holdings, Inc., Series A, 12.00%(1)(4)(11)		2,928	$	2,928,000
Total Convertible Preferred Stocks (identified cost $2,928,000)			$	2,928,000
Miscellaneous — 0.4%
Security	Principal Amount/ Shares		Value
Cable / Satellite TV — 0.0%
ACC Claims Holdings, LLC(11)(12)		11,599,560	$	0
			$	0
Energy — 0.0%
SemGroup Corp., Escrow Certificate(11)(12)		10,225,000	$	0
			$	0
Gaming — 0.4%
Buffalo Thunder Development Authority, Residual Claim Certificates, Expires 11/15/29(1)(12)	$	2,349,221	$	1,175
PGP Investors, LLC, Membership Interests(10)(11)(12)		38,571		25,611,429
			$	25,612,604
Total Miscellaneous (identified cost $13,303,125)			$	25,612,604
Short-Term Investments — 2.8%
Description	Units		Value
Eaton Vance Cash Reserves Fund, LLC, 1.07%(13)		171,453,379	$	171,504,815
Total Short-Term Investments (identified cost $171,489,296)			$	171,504,815
Total Investments — 98.6% (identified cost $5,939,219,047)			$	6,161,986,649
Other Assets, Less Liabilities — 1.4%			$	88,830,011
Net Assets — 100.0%			$	6,250,816,660

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

⁽¹⁾  Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At April 30, 2017, the aggregate value of these securities is $3,239,033,221 or 51.8% of the Portfolio’s net assets.

⁽²⁾  Security converts to floating rate after the indicated fixed-rate coupon period.

⁽³⁾  Perpetual security with no stated maturity date but may be subject to calls by the issuer.

⁽⁴⁾  Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. The interest rate paid in additional principal is generally higher than the indicated cash rate.

⁽⁵⁾  When-issued/delayed delivery security.

⁽⁶⁾  Currently the issuer is in default with respect to interest and/or principal payments or has filed for bankruptcy. For a variable rate security, interest rate has been adjusted to reflect non-accrual status.

⁽⁷⁾  Amount is less than 0.05%.

⁽⁸⁾  Senior floating-rate loans (Senior Loans) often require prepayments from excess cash flows or permit the borrowers to repay at their election. The degree to which borrowers repay, whether as a contractual requirement or at their election, cannot be predicted with accuracy. As a result, the actual remaining maturity may be substantially less than the stated maturities shown. However, Senior Loans will typically have an expected average life of approximately two to four years. The stated interest rate represents the weighted average interest rate of all contracts within the senior loan facility and includes commitment fees on unfunded loan commitments, if any. Senior Loans typically have rates of interest which are redetermined either daily, monthly, quarterly or semi-annually by reference to a base lending rate, plus a premium. These base lending rates are primarily the London Interbank Offered Rate (“LIBOR”) and secondarily, the prime rate offered by one or more major United States banks (the “Prime Rate”) and the certificate of deposit (“CD”) rate or other base lending rates used by commercial lenders.

⁽⁹⁾  This Senior Loan will settle after April 30, 2017, at which time the interest rate will be determined.

⁽¹⁰⁾  Restricted security (see Note 5).

⁽¹¹⁾  For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 9).

⁽¹²⁾  Non-income producing security.

⁽¹³⁾  Affiliated investment company, available to Eaton Vance portfolios and funds, which invests in high quality, U.S. dollar denominated money market instruments. The rate shown is the annualized seven-day yield as of April 30, 2017.

28 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Portfolio of Investments (Unaudited) — continued

Forward Foreign Currency Exchange Contracts
Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation		Unrealized (Depreciation)
USD	4,457,696	CAD	6,065,030	State Street Bank and Trust Company		7/31/17	$	8,526	$	—
							$	8,526	$	—

Abbreviations:

DIP	–	Debtor In Possession
PIK	–	Payment In Kind

Currency Abbreviations:

CAD	–	Canadian Dollar
USD	–	United States Dollar

29 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Statement of Assets and Liabilities (Unaudited)

Assets	April 30, 2017
Unaffiliated investments, at value (identified cost, $5,767,729,751)	$	5,990,481,834
Affiliated investment, at value (identified cost, $171,489,296)		171,504,815
Cash		1,603,470
Foreign currency, at value (identified cost, $45)		45
Interest receivable		95,445,544
Dividends receivable from affiliated investment		108,910
Receivable for investments sold		36,761,971
Receivable for open forward foreign currency exchange contracts		8,526
Other assets		284,237
Total assets	$	6,296,199,352
Liabilities
Payable for investments purchased	$	14,191,480
Payable for when-issued/delayed delivery securities		27,654,013
Payable to affiliates:
Investment adviser fee		3,046,068
Trustees’ fees		8,458
Accrued expenses		482,673
Total liabilities	$	45,382,692
Net Assets applicable to investors’ interest in Portfolio	$	6,250,816,660
Sources of Net Assets
Investors’ capital	$	6,028,040,536
Net unrealized appreciation		222,776,124
Total	$	6,250,816,660

30 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Statement of Operations (Unaudited)

Investment Income	Six Months Ended April 30, 2017
Interest and other income	$	195,412,606
Dividends		1,738,724
Dividends from affiliated investment		1,060,576
Total investment income	$	198,211,906
Expenses
Investment adviser fee	$	18,781,763
Trustees’ fees and expenses		53,542
Custodian fee		502,988
Legal and accounting services		113,073
Miscellaneous		112,949
Total expenses	$	19,564,315
Net investment income	$	178,647,591
Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions	$	(5,062,148	)
Investment transactions — affiliated investment		78,678
Swap contracts		348,732
Foreign currency and forward foreign currency exchange contract transactions		70,498
Net realized loss	$	(4,564,240	)
Change in unrealized appreciation (depreciation) —
Investments	$	130,866,342
Investments — affiliated investment		(51,727	)
Swap contracts		(333,483	)
Foreign currency and forward foreign currency exchange contracts		12,320
Net change in unrealized appreciation (depreciation)	$	130,493,452
Net realized and unrealized gain	$	125,929,212
Net increase in net assets from operations	$	304,576,803

31 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31, 2016
From operations —
Net investment income	$	178,647,591		$	343,239,756
Net realized loss from investment transactions, swap contracts and foreign currency and forward foreign currency exchange contract transactions		(4,564,240	)		(65,382,589	)
Net change in unrealized appreciation (depreciation) from investments, swap contracts, foreign currency and forward foreign currency exchange contracts		130,493,452			178,062,044
Net increase in net assets from operations	$	304,576,803		$	455,919,211
Capital transactions —
Contributions	$	319,680,311		$	1,212,272,358
Withdrawals		(865,874,459	)		(781,028,952	)
Net increase (decrease) in net assets from capital transactions	$	(546,194,148	)	$	431,243,406
Net increase (decrease) in net assets	$	(241,617,345	)	$	887,162,617
Net Assets
At beginning of period	$	6,492,434,005		$	5,605,271,388
At end of period	$	6,250,816,660		$	6,492,434,005

32 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Financial Highlights

	Six Months Ended April 30, 2017 (Unaudited)			Year Ended October 31,
Ratios/Supplemental Data				2016			2015			2014			2013			2012
Ratios (as a percentage of average daily net assets):
Expenses(1)		0.61	%(2)		0.61	%		0.62	%		0.62	%		0.62	%		0.62	%
Net investment income		5.60	%(2)		5.79	%		5.78	%		5.81	%		6.15	%		6.49	%
Portfolio Turnover		24	%(3)		34	%		36	%		43	%		56	%		64	%
Total Return		5.00	%(3)		7.42	%		0.28	%		5.74	%		9.17	%		11.44	%
Net assets, end of period (000’s omitted)	$	6,250,817		$	6,492,434		$	5,605,271		$	5,045,293		$	4,881,852		$	5,344,748

⁽¹⁾  Excludes the effect of custody fee credits, if any, of less than 0.005%. Effective September 1, 2015, custody fee credits, which were earned on cash deposit balances, were discontinued by the custodian.

⁽²⁾  Annualized.

⁽³⁾  Not annualized.

33 See Notes to Financial Statements.

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited)

1  Significant Accounting Policies

Boston Income Portfolio (the Portfolio) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, open-end management investment company. The Portfolio’s investment objective is to provide a high level of current income. The Portfolio’s secondary objectives are to seek growth of income and capital. The Declaration of Trust permits the Trustees to issue interests in the Portfolio. At April 30, 2017, Eaton Vance Income Fund of Boston, Eaton Vance Short Duration Strategic Income Fund and Eaton Vance International (Cayman Islands) Short Duration Strategic Income Fund held an interest of 99.9%, less than 0.05% and less than 0.05%, respectively, in the Portfolio.

The following is a summary of significant accounting policies of the Portfolio. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Portfolio is an investment company and follows accounting and reporting guidance in the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946.

A  Investment Valuation — The following methodologies are used to determine the market value or fair value of investments.

Debt Obligations. Debt obligations are generally valued on the basis of valuations provided by third party pricing services, as derived from such services’ pricing models. Inputs to the models may include, but are not limited to, reported trades, executable bid and asked prices, broker/dealer quotations, prices or yields of securities with similar characteristics, interest rates, anticipated prepayments, benchmark curves or information pertaining to the issuer, as well as industry and economic events. The pricing services may use a matrix approach, which considers information regarding securities with similar characteristics to determine the valuation for a security. Short-term obligations purchased with a remaining maturity of sixty days or less for which a valuation from a third party pricing service is not readily available may be valued at amortized cost, which approximates fair value.

Senior Floating-Rate Loans. Interests in senior floating-rate loans (Senior Loans) for which reliable market quotations are readily available are valued generally at the average mean of bid and ask quotations obtained from a third party pricing service. Other Senior Loans are valued at fair value by the investment adviser under procedures approved by the Trustees. In fair valuing a Senior Loan, the investment adviser utilizes one or more of the valuation techniques described in (i) through (iii) below to assess the likelihood that the borrower will make a full repayment of the loan underlying such Senior Loan relative to yields on other Senior Loans issued by companies of comparable credit quality. If the investment adviser believes that there is a reasonable likelihood of full repayment, the investment adviser will determine fair value using a matrix pricing approach that considers the yield on the Senior Loan. If the investment adviser believes there is not a reasonable likelihood of full repayment, the investment adviser will determine fair value using analyses that include, but are not limited to: (i) a comparison of the value of the borrower’s outstanding equity and debt to that of comparable public companies; (ii) a discounted cash flow analysis; or (iii) when the investment adviser believes it is likely that a borrower will be liquidated or sold, an analysis of the terms of such liquidation or sale. In certain cases, the investment adviser will use a combination of analytical methods to determine fair value, such as when only a portion of a borrower’s assets are likely to be sold. In conducting its assessment and analyses for purposes of determining fair value of a Senior Loan, the investment adviser will use its discretion and judgment in considering and appraising relevant factors. Fair value determinations are made by the portfolio managers of the Portfolio based on information available to such managers. The portfolio managers of other funds managed by the investment adviser that invest in Senior Loans may not possess the same information about a Senior Loan borrower as the portfolio managers of the Portfolio. At times, the fair value of a Senior Loan determined by the portfolio managers of other funds managed by the investment adviser that invest in Senior Loans may vary from the fair value of the same Senior Loan determined by the portfolio managers of the Portfolio. The fair value of each Senior Loan is periodically reviewed and approved by the investment adviser’s Valuation Committee and by the Trustees based upon procedures approved by the Trustees. Junior Loans (i.e., subordinated loans and second lien loans) are valued in the same manner as Senior Loans.

Equity Securities. Equity securities listed on a U.S. securities exchange generally are valued at the last sale or closing price on the day of valuation or, if no sales took place on such date, at the mean between the closing bid and asked prices therefore on the exchange where such securities are principally traded. Equity securities listed on the NASDAQ Global or Global Select Market generally are valued at the NASDAQ official closing price. Unlisted or listed securities for which closing sales prices or closing quotations are not available are valued at the mean between the latest available bid and asked prices or, in the case of preferred equity securities that are not listed or traded in the over-the-counter market, by a third party pricing service that uses various techniques that consider factors including, but not limited to, prices or yields of securities with similar characteristics, benchmark yields, broker/dealer quotes, quotes of underlying common stock, issuer spreads, as well as industry and economic events.

Derivatives. Forward foreign currency exchange contracts are generally valued at the mean of the average bid and average asked prices that are reported by currency dealers to a third party pricing service at the valuation time. Such third party pricing service valuations are supplied for specific settlement periods and the Portfolio’s forward foreign currency exchange contracts are valued at an interpolated rate between the closest preceding and subsequent settlement period reported by the third party pricing service. Swaps are normally valued using valuations provided by a third party pricing service. Such pricing service valuations are based on the present value of fixed and projected floating rate cash flows over the term of the swap contract, and in the case of credit default swaps, based on credit spread quotations obtained from broker/dealers and expected default recovery rates determined by the pricing service using proprietary models. Future cash flows on swaps are discounted to their present value using swap rates provided by electronic data services or by broker/dealers.

Foreign Securities and Currencies. Foreign securities and currencies are valued in U.S. dollars, based on foreign currency exchange rate quotations supplied by a third party pricing service. The pricing service uses a proprietary model to determine the exchange rate. Inputs to the model include reported trades and implied bid/ask spreads.

Affiliated Fund. The Portfolio may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). While Cash Reserves Fund is not a registered money market mutual fund, it conducts all of its investment activities in

34

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

accordance with the requirements of Rule 2a-7 under the 1940 Act. Investments in Cash Reserves Fund are valued at the closing net asset value per unit on the valuation day. Cash Reserves Fund generally values its investment securities based on available market quotations provided by a third party pricing service.

Fair Valuation. Investments for which valuations or market quotations are not readily available or are deemed unreliable are valued at fair value using methods determined in good faith by or at the direction of the Trustees of the Portfolio in a manner that fairly reflects the security’s value, or the amount that the Portfolio might reasonably expect to receive for the security upon its current sale in the ordinary course. Each such determination is based on a consideration of relevant factors, which are likely to vary from one pricing context to another. These factors may include, but are not limited to, the type of security, the existence of any contractual restrictions on the security’s disposition, the price and extent of public trading in similar securities of the issuer or of comparable companies or entities, quotations or relevant information obtained from broker/dealers or other market participants, information obtained from the issuer, analysts, and/or the appropriate stock exchange (for exchange-traded securities), an analysis of the company’s or entity’s financial condition, and an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold.

B  Investment Transactions — Investment transactions for financial statement purposes are accounted for on a trade date basis. Realized gains and losses on investments sold are determined on the basis of identified cost.

C  Income — Interest income is recorded on the basis of interest accrued, adjusted for amortization of premium or accretion of discount. Fees associated with loan amendments are recognized immediately. Dividend income is recorded on the ex-dividend date for dividends received in cash and/or securities. Distributions from investment companies are recorded as dividend income, capital gains or return of capital based on the nature of the distribution.

D  Federal Taxes — The Portfolio has elected to be treated as a partnership for federal tax purposes. No provision is made by the Portfolio for federal or state taxes on any taxable income of the Portfolio because each investor in the Portfolio is ultimately responsible for the payment of any taxes on its share of taxable income. Since at least one of the Portfolio’s investors is a regulated investment company that invests all or substantially all of its assets in the Portfolio, the Portfolio normally must satisfy the applicable source of income and diversification requirements (under the Internal Revenue Code) in order for its investors to satisfy them. The Portfolio will allocate, at least annually among its investors, each investor’s distributive share of the Portfolio’s net investment income, net realized capital gains and losses and any other items of income, gain, loss, deduction or credit.

As of April 30, 2017, the Portfolio had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Portfolio files a U.S. federal income tax return annually after its fiscal year-end, which is subject to examination by the Internal Revenue Service for a period of three years from the date of filing.

E  Foreign Currency Translation — Investment valuations, other assets, and liabilities initially expressed in foreign currencies are translated each business day into U.S. dollars based upon current exchange rates. Purchases and sales of foreign investment securities and income and expenses denominated in foreign currencies are translated into U.S. dollars based upon currency exchange rates in effect on the respective dates of such transactions. Recognized gains or losses on investment transactions attributable to changes in foreign currency exchange rates are recorded for financial statement purposes as net realized gains and losses on investments. That portion of unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed.

F  Use of Estimates — The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expense during the reporting period. Actual results could differ from those estimates.

G  Indemnifications — Under the Portfolio’s organizational documents, its officers and Trustees may be indemnified against certain liabilities and expenses arising out of the performance of their duties to the Portfolio. Under Massachusetts law, if certain conditions prevail, interestholders in the Portfolio could be deemed to have personal liability for the obligations of the Portfolio. However, the Portfolio’s Declaration of Trust contains an express disclaimer of liability on the part of Portfolio interestholders and the By-laws provide that the Portfolio shall assume the defense on behalf of any Portfolio interestholder. Moreover, the By-laws also provide for indemnification out of Portfolio property of any interestholder held personally liable solely by reason of being or having been an interestholder for all loss or expense arising from such liability. Additionally, in the normal course of business, the Portfolio enters into agreements with service providers that may contain indemnification clauses. The Portfolio’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Portfolio that have not yet occurred.

H  Forward Foreign Currency Exchange Contracts — The Portfolio may enter into forward foreign currency exchange contracts for the purchase or sale of a specific foreign currency at a fixed price on a future date. The forward foreign currency exchange contracts are adjusted by the daily exchange rate of the underlying currency and any gains or losses are recorded as unrealized until such time as the contracts have been closed. Risks may arise upon entering these contracts from the potential inability of counterparties to meet the terms of their contracts and from movements in the value of a foreign currency relative to the U.S. dollar.

I  Credit Default Swaps — Swap contracts are privately negotiated agreements between the Portfolio and a counterparty. Certain swap contracts may be centrally cleared (“centrally cleared swaps”), whereby all payments made or received by the Portfolio pursuant to the contract are with a central clearing party (CCP) rather than the original counterparty. The CCP guarantees the performance of the original parties to the contract. When the Portfolio is the buyer of a credit default swap contract, the Portfolio is entitled to receive the par (or other agreed-upon) value of a referenced debt obligation (or basket of

35

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

debt obligations) from the counterparty (or CCP in the case of a centrally cleared swap) to the contract if a credit event by a third party, such as a U.S. or foreign corporate issuer or sovereign issuer, on the debt obligation occurs. In return, the Portfolio pays the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Portfolio would have spent the stream of payments and received no proceeds from the contract. When the Portfolio is the seller of a credit default swap contract, it receives the stream of payments, but is obligated to pay to the buyer of the protection an amount up to the notional amount of the swap and in certain instances take delivery of securities of the reference entity upon the occurrence of a credit event, as defined under the terms of that particular swap agreement. Credit events are contract specific but may include bankruptcy, failure to pay, restructuring, obligation acceleration and repudiation/moratorium. If the Portfolio is a seller of protection and a credit event occurs, the maximum potential amount of future payments that the Portfolio could be required to make would be an amount equal to the notional amount of the agreement. This potential amount would be partially offset by any recovery value of the respective referenced obligation, or net amount received from the settlement of a buy protection credit default swap agreement entered into by the Portfolio for the same referenced obligation. As the seller, the Portfolio may create economic leverage to its portfolio because, in addition to its total net assets, the Portfolio is subject to investment exposure on the notional amount of the swap. The interest fee paid or received on the swap contract, which is based on a specified interest rate on a fixed notional amount, is accrued daily as a component of unrealized appreciation (depreciation) and is recorded as realized gain upon receipt or realized loss upon payment. The Portfolio also records an increase or decrease to unrealized appreciation (depreciation) in an amount equal to the daily valuation. For centrally cleared swaps, the daily change in valuation is recorded as a receivable or payable for variation margin and settled in cash with the CCP daily. All upfront payments, if any, are amortized over the life of the swap contract as realized gains or losses. Those upfront payments that are paid or received, typically for non-centrally cleared swaps, are recorded as other assets or other liabilities, respectively, net of amortization. For financial reporting purposes, unamortized upfront payments, if any, are netted with unrealized appreciation or depreciation on swap contracts to determine the market value of swaps as presented in Notes 6 and 9. The Portfolio segregates assets in the form of cash or liquid securities in an amount equal to the notional amount of the credit default swaps of which it is the seller. The Portfolio segregates assets in the form of cash or liquid securities in an amount equal to any unrealized depreciation of the credit default swaps of which it is the buyer, marked-to-market on a daily basis. Upon entering into centrally cleared swaps, the Portfolio is required to deposit with the CCP, either in cash or securities, an amount equal to a certain percentage of the notional amount (initial margin), which is subject to adjustment. These transactions involve certain risks, including the risk that the seller may be unable to fulfill the transaction. In the case of centrally cleared swaps, counterparty risk is minimal due to protections provided by the CCP.

J  When-Issued Securities and Delayed Delivery Transactions — The Portfolio may purchase or sell securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. At the time the transaction is negotiated, the price of the security that will be delivered is fixed. The Portfolio maintains cash and/or security positions for these commitments such that sufficient liquid assets will be available to make payments upon settlement. Securities purchased on a delayed delivery or when-issued basis are marked-to-market daily and begin earning interest on settlement date. Losses may arise due to changes in the market value of the underlying securities or if the counterparty does not perform under the contract.

K  Interim Financial Statements — The interim financial statements relating to April 30, 2017 and for the six months then ended have not been audited by an independent registered public accounting firm, but in the opinion of the Portfolio’s management, reflect all adjustments, consisting only of normal recurring adjustments, necessary for the fair presentation of the financial statements.

2  Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by Boston Management and Research (BMR), a subsidiary of EVM, as compensation for investment advisory services rendered to the Portfolio. Pursuant to the investment advisory agreement and subsequent fee reduction agreements between the Portfolio and BMR, the fee is computed at an annual rate of 0.625% of the Portfolio’s average daily net assets up to $1.5 billion, 0.60% from $1.5 billion up to $2 billion, 0.575% from $2 billion up to $5 billion, 0.555% from $5 billion up to $10 billion, and 0.535% of average daily net assets of $10 billion or more, and is payable monthly. The fee reductions cannot be terminated without the consent of a majority of Trustees and a majority of interestholders of the Portfolio. For the six months ended April 30, 2017, the Portfolio’s investment adviser fee amounted to $18,781,763 or 0.59% (annualized) of the Portfolio’s average daily net assets. The Portfolio invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash Reserves Fund.

Trustees and officers of the Portfolio who are members of EVM’s or BMR’s organizations receive remuneration for their services to the Portfolio out of the investment adviser fee. Trustees of the Portfolio who are not affiliated with the investment adviser may elect to defer receipt of all or a percentage of their annual fees in accordance with the terms of the Trustees Deferred Compensation Plan. For the six months ended April 30, 2017, no significant amounts have been deferred. Certain officers and Trustees of the Portfolio are officers of the above organizations.

3  Purchases and Sales of Investments

Purchases and sales of investments, other than short-term obligations and including maturities and principal repayments on Senior Loans, aggregated $1,491,963,129 and $1,733,419,400, respectively, for the six months ended April 30, 2017.

36

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

4  Federal Income Tax Basis of Investments

The cost and unrealized appreciation (depreciation) of investments of the Portfolio at April 30, 2017, as determined on a federal income tax basis, were as follows:

Aggregate cost	$	5,951,021,300
Gross unrealized appreciation	$	286,314,211
Gross unrealized depreciation		(75,348,862	)
Net unrealized appreciation	$	210,965,349

5  Restricted Securities

At April 30, 2017, the Portfolio owned the following securities (representing 0.3% of net assets) which were restricted as to public resale and not registered under the Securities Act of 1933 (excluding Rule 144A securities). The Portfolio has various registration rights (exercisable under a variety of circumstances) with respect to these securities. The value of these securities is determined based on valuations provided by brokers when available, or if not available, they are valued at fair value using methods determined in good faith by or at the direction of the Trustees.

Description	Date of Acquisition		Shares		Cost		Value
Common Stocks
Ascent CNR Corp., Class A		4/25/16, 11/16/16		32,029,863	$	0	$	7,174,689
HF Holdings, Inc.		10/27/09		3,400		182,613		52,156
New Cotai Participation Corp., Class B		4/12/13		36		1,111,500		251,460
Total Common Stocks					$	1,294,113	$	7,478,305
Miscellaneous
PGP Investors, LLC, Membership Interests		10/23/12, 2/18/15		38,571	$	13,303,125	$	25,611,429
Total Miscellaneous					$	13,303,125	$	25,611,429
Total Restricted Securities					$	14,597,238	$	33,089,734

6  Financial Instruments

The Portfolio may trade in financial instruments with off-balance sheet risk in the normal course of its investing activities. These financial instruments may include forward foreign currency exchange contracts and swap contracts and may involve, to a varying degree, elements of risk in excess of the amounts recognized for financial statement purposes. The notional or contractual amounts of these instruments represent the investment the Portfolio has in particular classes of financial instruments and do not necessarily represent the amounts potentially subject to risk. The measurement of the risks associated with these instruments is meaningful only when all related and offsetting transactions are considered. A summary of obligations under these financial instruments at April 30, 2017 is included in the Portfolio of Investments. At April 30, 2017, the Portfolio had sufficient cash and/or securities to cover commitments under these contracts.

In the normal course of pursuing its investment objectives, the Portfolio is subject to the following risks:

Credit Risk: During the six months ended April 30, 2017, the Portfolio entered into credit default swaps to manage its credit risk, to gain exposure to a credit which it may otherwise invest, or to enhance return.

Foreign Exchange Risk: The Portfolio holds foreign currency denominated investments. The value of these investments and related receivables and payables may change due to future changes in foreign currency exchange rates. To hedge against this risk, the Portfolio enters into forward foreign currency exchange contracts.

37

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

The Portfolio enters into over-the-counter (OTC) derivatives that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Portfolio’s net assets below a certain level over a certain period of time, which would trigger a payment by the Portfolio for those derivatives in a liability position. At April 30, 2017, the Portfolio had no open derivatives with credit-related contingent features in a net liability position.

The OTC derivatives in which the Portfolio invests are subject to the risk that the counterparty to the contract fails to perform its obligations under the contract. To mitigate this risk, the Portfolio has entered into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) or similar agreement with substantially all its derivative counterparties. An ISDA Master Agreement is a bilateral agreement between the Portfolio and a counterparty that governs certain OTC derivatives and typically contains, among other things, set-off provisions in the event of a default and/or termination event as defined under the relevant ISDA Master Agreement. Under an ISDA Master Agreement, the Portfolio may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and/or receivables with collateral held and/or posted and create one single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of default including the bankruptcy or insolvency of the counterparty. However, bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy or insolvency. Certain ISDA Master Agreements allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event the Portfolio’s net assets decline by a stated percentage or the Portfolio fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Portfolio of any net liability owed to it.

The collateral requirements for derivatives traded under an ISDA Master Agreement are governed by a Credit Support Annex to the ISDA Master Agreement. Collateral requirements are determined at the close of business each day and are typically based on changes in market values for each transaction under an ISDA Master Agreement and netted into one amount for such agreement. Generally, the amount of collateral due from or to a counterparty is subject to a minimum transfer threshold amount before a transfer is required, which may vary by counterparty. Collateral pledged for the benefit of the Portfolio and/or counterparty is held in segregated accounts by the Portfolio’s custodian and cannot be sold, re-pledged, assigned or otherwise used while pledged. The portion of such collateral representing cash, if any, is reflected as restricted cash and, in the case of cash pledged by a counterparty for the benefit of the Portfolio, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Portfolio as collateral, if any, are identified as such in the Portfolio of Investments.

The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) by risk exposure at April 30, 2017 was as follows:

		Fair Value
Risk	Derivative	Asset Derivative			Liability Derivative
Foreign Exchange	Forward foreign currency exchange contracts	$	8,526	(1)	$	—
Total Derivatives subject to master netting or similar agreements		$	8,526		$	—

⁽¹⁾  Statement of Assets and Liabilities location: Receivable for open forward foreign currency exchange contracts; Net unrealized appreciation.

The Portfolio’s derivative assets and liabilities at fair value by risk, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following table presents the Portfolio’s derivative assets by counterparty, net of amounts available for offset under a master netting agreement as of April 30, 2017.

Counterparty	Derivative Assets Subject to Master Netting Agreement		Derivatives Available for Offset		Non-cash Collateral Received(a)		Cash Collateral Received(a)		Net Amount of Derivative Assets(b)
State Street Bank and Trust Company	$	8,526	$	—	$	—	$	—	$	8,526

^(a)  In some instances, the actual collateral received and/or pledged may be more than the amount shown due to overcollateralization.

^(b)  Net amount represents the net amount due from the counterparty in the event of default.

38

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations by risk exposure for the six months ended April 30, 2017 was as follows:

Risk	Derivative	Realized Gain (Loss) on Derivatives Recognized in Income(1)		Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income(2)
Credit	Swap contracts	$	348,732	$	(333,483	)
Foreign Exchange	Forward foreign currency exchange contracts		70,499		12,320
Total		$	419,231	$	(321,163	)

⁽¹⁾ Statement of Operations location: Net realized gain (loss) – Swap contracts and Foreign currency and forward foreign currency exchange contract transactions, respectively.

⁽²⁾ Statement of Operations location: Change in unrealized appreciation (depreciation) – Swap contracts and Foreign currency and forward foreign currency exchange contracts, respectively.

The average notional amounts of derivative contracts outstanding during the six months ended April 30, 2017, which are indicative of the volume of these derivative types, were as follows:

Forward Foreign Currency Exchange Contracts*		Swap Contracts
	$5,219,000	$	9,229,000

* The average notional amount of forward foreign currency exchange contracts is based on the absolute value of notional amounts of currency purchased and currency sold.

7  Line of Credit

The Portfolio participates with other portfolios and funds managed by EVM and its affiliates in a $625 million unsecured line of credit agreement with a group of banks, which is in effect through September 1, 2017. Borrowings are made by the Portfolio solely to facilitate the handling of unusual and/or unanticipated short-term cash requirements. Interest is charged to the Portfolio based on its borrowings at an amount above either the Eurodollar rate or Federal Funds rate. In addition, a fee computed at an annual rate of 0.15% on the daily unused portion of the line of credit is allocated among the participating portfolios and funds at the end of each quarter. Because the line of credit is not available exclusively to the Portfolio, it may be unable to borrow some or all of its requested amounts at any particular time. The Portfolio did not have any significant borrowings or allocated fees during the six months ended April 30, 2017.

8  Credit Risk

The Portfolio primarily invests in lower rated and comparable quality unrated high yield securities. These investments have different risks than investments in debt securities rated investment grade. Risk of loss upon default by the borrower is significantly greater with respect to such debt than with other debt securities because these securities are generally unsecured and are more sensitive to adverse economic conditions, such as recession or increasing interest rates, than are investment grade issuers.

9  Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is 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)

39

Boston Income Portfolio

April 30, 2017

Notes to Financial Statements (Unaudited) — continued

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At April 30, 2017, the hierarchy of inputs used in valuing the Portfolio’s investments and open derivative instruments, which are carried at value, were as follows:

Asset Description	Level 1		Level 2		Level 3*		Total
Corporate Bonds & Notes	$	—	$	5,456,392,935	$	—	$	5,456,392,935
Senior Floating-Rate Loans		—		440,226,868		—		440,226,868
Convertible Bonds		—		25,354,919		—		25,354,919
Commercial Mortgage-Backed Securities		—		8,165,805		—		8,165,805
Common Stocks		11,194,060		—		20,606,643		31,800,703
Convertible Preferred Stocks		—		—		2,928,000		2,928,000
Miscellaneous		—		1,175		25,611,429		25,612,604
Short-Term Investments		—		171,504,815		—		171,504,815
Total Investments	$	11,194,060	$	6,101,646,517	$	49,146,072	$	6,161,986,649
Forward Foreign Currency Exchange Contracts	$	—	$	8,526	$	—	$	8,526
Total	$	11,194,060	$	6,101,655,043	$	49,146,072	$	6,161,995,175

* None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Portfolio.

Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the six months ended April 30, 2017 is not presented. At April 30, 2017, there were no investments transferred between Level 1 and Level 2 during the six months then ended.

40

Eaton Vance

Income Fund of Boston

April 30, 2017

Board of Trustees’ Contract Approval

Overview of the Contract Review Process

The Investment Company Act of 1940, as amended (the “1940 Act”), provides, in substance, that each investment advisory agreement between a fund and its investment adviser will continue in effect from year to year only if its continuation is approved at least annually by the fund’s board of trustees, including by a vote of a majority of the trustees who are not “interested persons” of the fund (“Independent Trustees”), cast in person at a meeting called for the purpose of considering such approval.

At a meeting of the Boards of Trustees (each a “Board”) of the registered investment companies advised by either Eaton Vance Management or its affiliate, Boston Management and Research, (the “Eaton Vance Funds”) held on April 25, 2017, the Board, including a majority of the Independent Trustees, voted to approve continuation of existing investment advisory and sub-advisory agreements for the Eaton Vance Funds for an additional one-year period. In voting its approval, the Board relied upon the affirmative recommendation of its Contract Review Committee, which is a committee comprised exclusively of Independent Trustees. Prior to making its recommendation, the Contract Review Committee reviewed information furnished by each adviser to the Eaton Vance Funds (including information specifically requested by the Board) for a series of meetings of the Contract Review Committee held between February and April 2017. The Contract Review Committee also considered information received at prior meetings of the Board and its committees, as relevant to its annual evaluation of the investment advisory and sub-advisory agreements.

The information that the Board considered included, among other things, the following (for funds that invest through one or more underlying portfolio(s), references to “each fund” in this section may include information that was considered at the portfolio-level):

Information about Fees, Performance and Expenses

• A report from an independent data provider comparing the advisory and related fees paid by each fund with fees paid by comparable funds as identified by the independent data provider (“comparable funds”);

• A report from an independent data provider comparing each fund’s total expense ratio and its components to comparable funds;

• A report from an independent data provider comparing the investment performance of each fund (including, where relevant, yield data, Sharpe ratios and information ratios) to the investment performance of comparable funds over various time periods;

• Data regarding investment performance in comparison to benchmark indices, as well as customized groups of peer funds and blended indices identified by the adviser in consultation with the Board;

• For each fund, comparative information concerning the fees charged and the services provided by each adviser in managing other accounts (including mutual funds, other collective investment funds and institutional accounts) using investment strategies and techniques similar to those used in managing such fund;

• Profitability analyses for each adviser with respect to each fund;

Information about Portfolio Management and Trading

• Descriptions of the investment management services provided to each fund, including the investment strategies and processes it employs;

• The procedures and processes used to determine the fair value of fund assets and actions taken to monitor and test the effectiveness of such procedures and processes;

• Information about each adviser’s policies and practices with respect to trading, including each adviser’s processes for monitoring best execution of portfolio transactions;

• Information about the allocation of brokerage transactions and the benefits received by each adviser as a result of brokerage allocation, including information concerning the acquisition of research through client commission arrangements and policies with respect to “soft dollars”;

• Data relating to portfolio turnover rates of each fund;

Information about each Adviser

• Reports detailing the financial results and condition of each adviser;

• Descriptions of the qualifications, education and experience of the individual investment professionals whose responsibilities include portfolio management and investment research for the funds, and information relating to their compensation and responsibilities with respect to managing other mutual funds and investment accounts;

• The Code of Ethics of each adviser and its affiliates, together with information relating to compliance with and the administration of such codes;

• Policies and procedures relating to proxy voting and the handling of corporate actions and class actions;

• Information concerning the resources devoted to compliance efforts undertaken by each adviser and its affiliates (including descriptions of various compliance programs) and their record of compliance;

• Information concerning the business continuity and disaster recovery plans of each adviser and its affiliates;

• A description of Eaton Vance Management’s procedures for overseeing third party advisers and sub-advisers, including with respect to regulatory and compliance issues, investment management and other matters;

41

Eaton Vance

Income Fund of Boston

April 30, 2017

Board of Trustees’ Contract Approval — continued

Other Relevant Information

• Information concerning the nature, cost and character of the administrative and other non-investment advisory services provided by Eaton Vance Management and its affiliates;

• Information concerning management of the relationship with the custodian, subcustodians and fund accountants by each adviser or the funds’ administrator; and

• The terms of each investment advisory agreement.

Over the course of the twelve-month period ended April 30, 2017, with respect to one or more funds, the Board met ten times and the Contract Review Committee, the Audit Committee, the Governance Committee, the Portfolio Management Committee and the Compliance Reports and Regulatory Matters Committee, each of which is a Committee comprised solely of Independent Trustees, met seven, thirteen, six, eight and ten times, respectively. At such meetings, the Trustees participated in investment and performance reviews with the portfolio managers and other investment professionals of each investment adviser relating to each fund, and considered various investment and trading strategies used in pursuing each fund’s investment objective, such as the use of derivative instruments, as well as risk management techniques. The Board and its Committees also evaluated issues pertaining to industry and regulatory developments, compliance procedures, fund governance and other issues with respect to the funds, and received and participated in reports and presentations provided by Eaton Vance Management and other fund advisers with respect to such matters. In addition to the formal meetings of the Board and its Committees, the Independent Trustees hold regular teleconferences in between meetings to discuss, among other topics, matters relating to the continuation of investment advisory and sub-advisory agreements.

For funds that invest through one or more underlying portfolios, the Board considered similar information about the portfolio(s) when considering the approval of investment advisory agreements. In addition, in cases where the fund’s investment adviser has engaged a sub-adviser, the Board considered similar information about the sub-adviser when considering the approval of any sub-advisory agreement.

The Contract Review Committee was assisted throughout the contract review process by Goodwin Procter LLP, independent legal counsel for the Independent Trustees. The members of the Contract Review Committee relied upon the advice of such counsel and their own business judgment in determining the material factors to be considered in evaluating each investment advisory and sub-advisory agreement and the weight to be given to each such factor. The conclusions reached with respect to each investment advisory and sub-advisory agreement were based on a comprehensive evaluation of all the information provided and not any single factor. Moreover, each member of the Contract Review Committee may have placed varying emphasis on particular factors in reaching conclusions with respect to each investment advisory and sub-advisory agreement. In evaluating each investment advisory and sub-advisory agreement, including the specific fee structures and other terms of the agreements, the Contract Review Committee was informed by multiple years of analysis and discussion among the Independent Trustees and the Eaton Vance Funds’ advisers and sub-advisers.

Results of the Process

Based on its consideration of the foregoing, and such other information as it deemed relevant, including the factors and conclusions described below, the Contract Review Committee concluded that the continuation of the investment advisory agreement of Boston Income Portfolio (the “Portfolio”), the portfolio in which Eaton Vance Income Fund of Boston (the “Fund”) invests, with Boston Management and Research (the “Adviser”), including its fee structure, is in the interests of shareholders and, therefore, the Contract Review Committee recommended to the Board approval of the agreement. The Board accepted the recommendation of the Contract Review Committee based on the material factors considered and conclusions reached by the Contract Review Committee with respect to the agreement. Accordingly, the Board, including a majority of the Independent Trustees, voted to approve continuation of the investment advisory agreement for the Portfolio.

Nature, Extent and Quality of Services

In considering whether to approve the investment advisory agreement of the Portfolio, the Board evaluated the nature, extent and quality of services provided to the Portfolio by the Adviser.

The Board considered the Adviser’s management capabilities and investment process with respect to the types of investments held by the Portfolio, including the education, experience and number of its investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Portfolio. In particular, the Board considered the abilities and experience of the Adviser’s investment professionals in analyzing special considerations relevant to investing in high-yield debt. The Board also took into account the resources dedicated to portfolio management and other services, as well as the compensation methods of the Adviser and other factors, such as the reputation and resources of the Adviser to recruit and retain highly qualified research, advisory and supervisory investment professionals. In addition, the Board considered the time and attention devoted to the Eaton Vance Funds, including the Portfolio, by senior management, as well as the infrastructure, operational capabilities and support staff in place to assist in the portfolio management and operations of the Portfolio, including the provision of administrative services. The Board also considered the business-related and other risks to which the Adviser or its affiliates may be subject in managing the Portfolio.

The Board considered the compliance programs of the Adviser and relevant affiliates thereof. Among other matters, the Board considered compliance and reporting matters relating to personal trading by investment professionals, selective disclosure of portfolio holdings, late trading, frequent trading, portfolio

42

Eaton Vance

Income Fund of Boston

April 30, 2017

Board of Trustees’ Contract Approval — continued

valuation, business continuity and the allocation of investment opportunities. The Board also considered the responses of the Adviser and its affiliates to requests in recent years from regulatory authorities such as the Securities and Exchange Commission and the Financial Industry Regulatory Authority.

The Board was aware that on April 24, 2017 a former employee of the Adviser agreed to plead guilty to fraud charges arising from the individual’s prior activities as an equity options trader for certain Eaton Vance Funds. The Board was informed that the Adviser became aware of the matter on April 18, 2017, at which time management contacted federal authorities, alerted the Board and began an internal investigation. The Adviser represented to the Board that, based on information available as of April 25, 2017, management had no reason to believe that any other employee of the Adviser or its affiliates was involved in any wrongful activities or that any fund had been materially harmed. The Adviser agreed to keep the Board fully apprised as additional information is learned, and assured the Board that any fund harmed by the former employee’s wrongful activities will be made whole, as determined in consultation with the Board. The Board concluded that the Adviser’s actions in response to these events are appropriate and consistent with the Adviser’s commitment to protect and provide quality services to the Eaton Vance Funds.

The Board considered shareholder and other administrative services provided or managed by Eaton Vance Management and its affiliates, including transfer agency and accounting services. The Board evaluated the benefits to shareholders of investing in a fund that is a part of a large fund complex offering exposure to a variety of asset classes and investment disciplines, as well as the ability, in many cases, to exchange an investment among different funds without incurring additional sales charges.

After consideration of the foregoing factors, among others, the Board concluded that the nature, extent and quality of services provided by the Adviser, taken as a whole, are appropriate and consistent with the terms of the investment advisory agreement.

Fund Performance

The Board compared the Fund’s investment performance to that of comparable funds and appropriate benchmark indices. The Board’s review included comparative performance data for the one-, three-, five- and ten-year periods ended September 30, 2016 for the Fund. The Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board considered contractual fee rates payable by the Portfolio and by the Fund for advisory and administrative services (referred to collectively as “management fees”). As part of its review, the Board considered the Fund’s management fees and total expense ratio for the one year period ended September 30, 2016, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also received and considered information about the services offered and the fee rates charged by the Adviser to other types of clients with investment objectives and strategies that are substantially similar to and/or managed in a similar investment style as the Portfolio. In this regard, the Board received information about the differences in the nature and scope of services the Adviser provides to the Portfolio as compared to other types of clients and the material differences in compliance, reporting and other legal burdens and risks to the Adviser as between the Portfolio and other types of clients. The Board also considered certain factors identified by management in response to inquiries from the Contract Review Committee regarding the Fund’s expense ratio relative to comparable funds.

After considering the foregoing information, and in light of the nature, extent and quality of the services provided by the Adviser, the Board concluded that the management fees charged for advisory and related services are reasonable.

Profitability and Other “Fall-Out” Benefits

The Board considered the level of profits realized by the Adviser and relevant affiliates thereof in providing investment advisory and administrative services to the Fund, to the Portfolio and to all Eaton Vance Funds as a group. The Board considered the level of profits realized without regard to marketing support or other payments by the Adviser and its affiliates to third parties in respect of distribution services. The Board also considered other direct or indirect fall-out benefits received by the Adviser and its affiliates in connection with their relationships with the Fund and the Portfolio, including the benefits of research services that may be available to the Adviser as a result of securities transactions effected for the Portfolio and other investment advisory clients.

The Board concluded that, in light of the foregoing factors and the nature, extent and quality of the services rendered, the profits realized by the Adviser and its affiliates are deemed not to be excessive.

Economies of Scale

In reviewing management fees and profitability, the Board also considered the extent to which the Adviser and its affiliates, on the one hand, and the Fund and the Portfolio, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund and the Portfolio increase. The Board acknowledged the difficulty in accurately measuring the benefits resulting from economies of scale, if any, with respect to the management of any specific fund or group of funds. The Board reviewed data summarizing the increases and decreases in the assets of the Fund and of all Eaton Vance Funds as a

43

Eaton Vance

Income Fund of Boston

April 30, 2017

Board of Trustees’ Contract Approval — continued

group over various time periods, and evaluated the extent to which the total expense ratio of the Fund and the profitability of the Adviser and its affiliates may have been affected by such increases or decreases. Based upon the foregoing, the Board concluded that the Fund currently shares in any benefits from economies of scale. The Board also concluded that, assuming reasonably foreseeable increases in the assets of the Fund and the Portfolio, the structure of the advisory fee, which includes breakpoints at several asset levels, will allow the Fund and the Portfolio to continue to benefit from any economies of scale in the future.

44

Eaton Vance

Income Fund of Boston

April 30, 2017

Officers and Trustees

Officers of Eaton Vance Income Fund of Boston

Payson F. Swaffield

President

Maureen A. Gemma

Vice President, Secretary and

Chief Legal Officer

James F. Kirchner

Treasurer

Paul M. O’Neil

Chief Compliance Officer

Officers of Boston Income Portfolio

Payson F. Swaffield

President

Maureen A. Gemma

Vice President, Secretary and

Chief Legal Officer

James F. Kirchner

Treasurer

Paul M. O’Neil

Chief Compliance Officer

Trustees of Eaton Vance Income Fund of Boston and Boston Income Portfolio

William H. Park

Chairperson

Scott E. Eston

Thomas E. Faust Jr.*

Mark R. Fetting**

Cynthia E. Frost

George J. Gorman

Valerie A. Mosley

Helen Frame Peters

Susan J. Sutherland

Harriett Tee Taggart

Ralph F. Verni

Scott E. Wennerholm**

* Interested Trustee

** Messrs. Fetting and Wennerholm began serving as Trustees effective September 1, 2016.

45

Eaton Vance Funds

IMPORTANT NOTICES

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 Privacy 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, Eaton Vance Distributors, Inc., Eaton Vance Trust Company, Eaton Vance Management (International) Limited, Eaton Vance Management’s Real Estate Investment Group and Boston Management and Research. In addition, our Privacy Policy applies only 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 advisor/broker-dealer, it is likely that only such advisor’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 (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 advisor, may household the mailing of your documents indefinitely unless you instruct Eaton Vance, or your financial advisor, 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 advisor. Your instructions that householding not apply to delivery of your Eaton Vance documents will typically be effective within 30 days of receipt by Eaton Vance or your financial advisor. Separate statements will be generated for each separate account and will be householded as described above.

Portfolio Holdings.  Each Eaton Vance Fund and its underlying Portfolio(s) (if applicable) will file a schedule of 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 at 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 and by accessing the SEC’s website at www.sec.gov.

46

This Page Intentionally Left Blank

This Page Intentionally Left Blank

Investment Adviser of Boston Income Portfolio

Boston Management and Research

Two International Place

Boston, MA 02110

Administrator of Eaton Vance Income Fund of Boston

Eaton Vance Management

Two International Place

Boston, MA 02110

Principal Underwriter*

Eaton Vance Distributors, Inc.

Two International Place

Boston, MA 02110

(617) 482-8260

Custodian

State Street Bank and Trust Company

State Street Financial Center, One Lincoln Street

Boston, MA 02111

Transfer Agent

BNY Mellon Investment Servicing (US) Inc.

Attn: Eaton Vance Funds

P.O. Box 9653

Providence, RI 02940-9653

(800) 262-1122

Fund Offices

Two International Place

Boston, MA 02110

* FINRA BrokerCheck.  Investors may check the background of their Investment Professional by contacting the Financial Industry Regulatory Authority (FINRA). FINRA BrokerCheck is a free tool to help investors check the professional background of current and former FINRA-registered securities firms and brokers. FINRA BrokerCheck is available by calling 1-800-289-9999 and at www.FINRA.org. The FINRA BrokerCheck brochure describing this program is available to investors at www.FINRA.org.

7710    4.30.17

Item 2. Code of Ethics

Not required in this filing.

Item 3. Audit Committee Financial Expert

Not required in this filing.

Item 4. Principal Accountant Fees and Services

Rule 2-01(c)(1)(ii)(A) of Regulation S-X (the “Loan Rule”) prohibits an accounting firm, such as the Trust’s principal accountant, Deloitte & Touche LLP (“D&T”), from having certain financial relationships with their audit clients and affiliated entities. Specifically, the Loan Rule provides, in relevant part, that an accounting firm generally would not be independent if it or a “covered person” of the accounting firm (within the meaning of applicable SEC rules relating to auditor independence) receives a loan from a lender that is a “record or beneficial owner of more than ten percent of the audit client’s equity securities.” Based on information provided to the Audit Committee of the Board of Trustees (the “Audit Committee”) of the Eaton Vance family of funds by D&T, certain relationships between D&T and its affiliates (“Deloitte Entities”) and one or more lenders who are record owners of shares of one or more funds within the Eaton Vance family of funds (the “Funds”) implicate the Loan Rule, calling into question D&T’s independence with respect to the Funds. The Funds are providing this disclosure to explain the facts and circumstances as well as D&T’s conclusions concerning D&T’s objectivity and impartiality with respect to the audits of the Funds notwithstanding the existence of one or more breaches of the Loan Rule.

On June 20, 2016, the U.S. Securities and Exchange Commission (the “SEC”) issued no-action relief to another mutual fund complex (see Fidelity Management & Research Company et al., No-Action Letter (June 20, 2016) (the “No-Action Letter”)) related to an auditor independence issue arising under the Loan Rule. In the No-Action Letter, the SEC indicated that it would not recommend enforcement action against the fund group if the auditor is not in compliance with the Loan Rule provided that: (1) the auditor has complied with PCAOB Rule 3526(b)(1) and 3526(b)(2); (2) the auditor’s non-compliance under the Loan Rule is with respect to certain lending relationships; and (3) notwithstanding such non-compliance, the auditor has concluded that it is objective and impartial with respect to the issues encompassed within its engagement as auditor of the funds. The SEC has indicated that the no-action relief will expire 18 months from its issuance.

Based on information provided by D&T to the Audit Committee, the requirements of the No-Action Letter appear to be met with respect to D&T’s lending relationships described above. Among other things, D&T has advised the Audit Committee of its conclusion that the consequences of the breach of the Loan Rule have been satisfactorily addressed, that D&T’s objectivity and impartiality in the planning and conduct of the audits of the Fund’s financial statements has not been compromised and that, notwithstanding the breach, D&T is in a position to continue as the auditor for the Funds and D&T does not believe any actions need to be taken with respect to previously issued reports by D&T. D&T has advised the Audit Committee that these conclusions were based in part on its consideration of the No-Action Letter and other relevant information communicated to the Audit Committee.

Item 5. Audit Committee of Listed Registrants

Not applicable.

Item 6. Schedule of Investments

Please see schedule of investments contained in the Report to Stockholders included under Item 1 of this Form N-CSR.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders

No material changes.

Item 11. Controls and Procedures

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

(b) There have been no changes in the registrant’s internal controls over financial reporting during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits

(a)(1)	Registrant’s Code of Ethics – Not applicable (please see Item 2).
(a)(2)(i)	Treasurer’s Section 302 certification.
(a)(2)(ii)	President’s Section 302 certification.
(b)	Combined Section 906 certification.

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Eaton Vance Series Trust II

By:	/s/ Payson F. Swaffield
	Payson F. Swaffield
	President
Date:	June 26, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By:	/s/ James F. Kirchner
	James F. Kirchner
	Treasurer
Date:	June 26, 2017
By:	/s/ Payson F. Swaffield
	Payson F. Swaffield
	President
Date:	June 26, 2017