Eaton Vance Enhanced Equity Income Fund II

Regulatory Filings • Nov 29, 2006

N-Q 1 a06-21085_1nq.htm QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number	811-21670
Eaton Vance Enhanced Equity Income Fund II
(Exact Name of
Registrant as Specified in Charter)
The Eaton Vance Building, 255 State Street, Boston, Massachusetts	02109
(Address of
Principal Executive Offices)	(Zip code)
Alan R. Dynner, Esq. Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109
(Name and Address
of Agent for Service)
Registrant’s Telephone
Number, Including Area Code:	(617)
482-8260
Date of Fiscal Year End:	December
31
Date of Reporting
Period:	September
30, 2006

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Item 1. Schedule of Investments

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Eaton Vance Enhanced Equity Income Fund II as of September 30, 2006

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 102.1% (1)

Security	Shares	Value
Aerospace &
Defense — 7.0%
Alliant
Techsystems, Inc. (2)	84,700	$ 6,865,782
Boeing Company	134,300	10,589,555
General Dynamics Corp.	260,600	18,677,202
L-3 Communications
Holdings, Inc.	116,000	9,086,280
Rockwell
Collins, Inc.	178,900	9,810,876
United Technologies
Corp.	130,100	8,241,835
		$ 63,271,530
Air
Freight & Logistics — 0.7%
C.H. Robinson
Worldwide, Inc.	153,800	6,856,404
		$ 6,856,404
Auto
Components — 1.0%
BorgWarner, Inc.	156,000	8,918,520
		$ 8,918,520
Biotechnology
— 1.3%
Amgen, Inc. (2)	160,000	11,437,647
		$ 11,437,647
Capital
Markets — 5.4%
Affiliated Managers
Group, Inc. (2)	110,000	11,012,100
Charles Schwab Corp.
(The)	640,000	11,456,000
E*Trade Financial Corp.
(2)	426,000	10,189,920
Mellon Financial Corp.	200,000	7,820,000
UBS AG	140,200	8,315,262
		$ 48,793,282
Commercial
Services & Supplies — 1.6%
Cintas Corp.	208,600	8,517,138
Equifax, Inc.	177,200	6,505,012
		$ 15,022,150
Communications
Equipment — 4.9%
Cisco Systems, Inc.
(2)	444,600	10,225,800
Harris Corp.	124,000	5,516,760
QUALCOMM, Inc.	200,000	7,270,000
Research in Motion, Ltd.
(2)	123,000	12,627,180
Tellabs, Inc. (2)	844,800	9,259,008
		$ 44,898,748
Computer
Peripherals — 6.4%
Apple
Computer, Inc. (2)	186,400	14,358,392
EMC Corp. (2)	503,000	6,025,940
Hewlett-Packard Co.	197,300	7,238,937
NCR Corp. (2)	253,200	9,996,336

1

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| Network
Appliance, Inc. (2) | 310,000 | $ 11,473,100 |
| --- | --- | --- |
| Seagate Technology (2) | 370,000 | 8,543,300 |
| | | $ 57,636,005 |
| Construction &
Engineering — 0.4% | | |
| Foster Wheeler, Ltd. (2) | 93,000 | 3,588,870 |
| | | $ 3,588,870 |
| Consumer
Finance — 0.7% | | |
| American Express Co. | 106,500 | 5,972,520 |
| | | $ 5,972,520 |
| Diversified
Consumer Services — 0.7% | | |
| ServiceMaster Co. | 567,000 | 6,356,070 |
| | | $ 6,356,070 |
| Diversified
Financial Services — 0.7% | | |
| Citigroup, Inc. | 136,500 | 6,779,955 |
| | | $ 6,779,955 |
| Diversified
Telecommunication Services — 1.1% | | |
| CenturyTel, Inc. | 244,300 | 9,691,381 |
| | | $ 9,691,381 |
| Electrical Equipment — 0.7% | | |
| Emerson Electric Co. | 80,000 | 6,708,800 |
| | | $ 6,708,800 |
| Electronic Equipment &
Instruments — 0.8% | | |
| Agilent
Technologies, Inc. (2) | 227,000 | 7,420,630 |
| | | $ 7,420,630 |
| Energy
Equipment & Services — 3.5% | | |
| Diamond Offshore
Drilling, Inc. | 120,000 | 8,684,400 |
| Halliburton Co. | 253,000 | 7,197,850 |
| Noble Corp. | 146,000 | 9,370,280 |
| Schlumberger, Ltd. | 110,000 | 6,823,300 |
| | | $ 32,075,830 |
| Food &
Staples Retailing — 2.0% | | |
| BJ’s Wholesale
Club, Inc. (2) | 365,200 | 10,656,536 |
| Safeway, Inc. | 245,500 | 7,450,925 |
| | | $ 18,107,461 |
| Food Products — 3.7% | | |
| Kellogg Co. | 118,700 | 5,878,024 |
| Nestle SA ADR | 109,700 | 9,535,706 |
| Smithfield
Foods, Inc. (2) | 355,300 | 9,600,206 |
| William Wrigley Jr. Co. | 195,000 | 8,981,700 |
| | | $ 33,995,636 |

2

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Health Care Equipment & Supplies — 3.8% — Baxter International, Inc.	230,800	$ 10,492,168
DENTSPLY International, Inc.	286,600	8,629,526
Edwards Lifesciences Corp. (2)	202,400	9,429,816
Thoratec Corp. (2)	386,200	6,028,582
		$ 34,580,092
Health
Care Providers & Services — 5.3%
Caremark Rx, Inc.	182,400	10,336,608
DaVita, Inc. (2)	225,500	13,049,685
Express
Scripts, Inc. (2)	128,200	9,677,818
Henry Schein, Inc.
(2)	158,200	7,932,148
WellPoint, Inc. (2)	95,100	7,327,455
		$ 48,323,714
Hotels, Restaurants &
Leisure — 3.0%
Harrah’s
Entertainment, Inc.	142,500	9,466,275
Marriott
International, Inc., Class A	180,000	6,955,200
Starwood
Hotels & Resorts Worldwide, Inc.	83,300	4,763,927
Tim Hortons, Inc.	227,400	5,980,620
		$ 27,166,022
Household
Products — 2.1%
Colgate-Palmolive Co.	147,800	9,178,380
Procter &
Gamble Co.	159,200	9,867,216
		$ 19,045,596
Industrial
Conglomerates — 1.2%
Tyco International, Ltd.	375,600	10,513,044
		$ 10,513,044
Insurance
— 2.6%
AON Corp.	250,500	8,484,435
St. Paul Travelers
Companies, Inc.	215,000	10,081,350
Willis Group Holdings,
Ltd.	130,000	4,940,000
		$ 23,505,785
Internet
Software & Services — 1.0%
Google, Inc.,
Class A (2)	22,000	8,841,800
		$ 8,841,800
IT
Services — 1.9%
CheckFree Corp. (2)	239,900	9,912,668
Paychex, Inc.	196,100	7,226,285
		$ 17,138,953
Life
Sciences Tools & Services — 1.3%
Fisher Scientific
International, Inc. (2)	68,500	5,359,440
Millipore Corp. (2)	108,000	6,620,400
		$ 11,979,840

3

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Machinery — 2.3% — Deere & Co.	83,000	$ 6,964,530
Parker Hannifin Corp.	119,000	9,249,870
Trinity Industries, Inc.	141,000	4,535,970
		$ 20,750,370
Media —
4.5%
Comcast Corp.,
Class A (2)	263,700	9,717,345
McGraw-Hill Companies, Inc.,
(The)	200,000	11,606,000
NTL, Inc.	305,300	7,763,779
Time Warner, Inc.	644,400	11,747,412
		$ 40,834,536
Metals &
Mining — 0.9%
Alcoa, Inc.	279,700	7,842,788
		$ 7,842,788
Multiline
Retail — 3.6%
Federated Department
Stores, Inc.	290,000	12,530,900
Nordstrom, Inc.	214,300	9,064,890
Saks, Inc.	616,500	10,653,120
		$ 32,248,910
Personal
Products — 1.0%
Alberto-Culver Co.	179,600	9,085,964
		$ 9,085,964
Pharmaceuticals
— 6.2%
Abbott Laboratories	117,000	5,681,520
Eli Lilly & Co.	174,200	9,929,400
Endo Pharmaceuticals
Holdings, Inc. (2)	290,700	9,462,285
Johnson &
Johnson	181,800	11,806,092
Novartis AG ADR	161,000	9,408,840
Wyeth	196,200	9,974,808
		$ 56,262,945
Semiconductors &
Semiconductor Equipment — 11.9%
Analog
Devices, Inc.	335,000	9,845,650
Atheros
Communications, Inc. (2)	665,000	12,056,450
Cypress Semiconductor
Corp. (2)	601,000	10,679,770
Intersil Corp.,
Class A	327,600	8,042,580
Linear Technology Corp.	273,100	8,498,872
Maxim Integrated
Products, Inc.	113,700	3,191,559
MEMC Electronic
Materials, Inc. (2)	250,000	9,157,500
Microchip Technology, Inc.	278,800	9,038,696

4

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Micron Technology, Inc. (2)	612,500	$ 10,657,500
Teradyne, Inc. (2)	1,014,800	13,354,768
Texas Instruments, Inc.	417,000	13,865,250
		$ 108,388,595
Software — 1.7%
Oracle Corp. (2)	850,161	15,081,856
		$ 15,081,856
Specialty Retail — 1.1%
Staples, Inc.	425,000	10,340,250
		$ 10,340,250
Textiles,
Apparel & Luxury Goods — 2.6%
Liz Claiborne, Inc.	291,400	11,513,214
NIKE, Inc.,
Class B	134,000	11,741,080
		$ 23,254,294
Tobacco
— 0.9%
Altria Group, Inc.	107,100	8,198,505
		$ 8,198,505
Trading
Companies & Distributors — 0.6%
United
Rentals, Inc. (2)	220,000	5,115,000
		$ 5,115,000
Total Common Stocks (identified cost $901,282,126)		$ 926,030,298

Short-Term Investments — 2.2%

Security	Principal Amount (000’s omitted)	Value
Investors Bank
and Trust Company Time Deposit, 5.37%, 10/2/06	$ 1,500	$ 1,500,000
Societe Generale
Time Deposit, 5.35%, 10/2/06	18,024	18,024,000
Total Short-Term Investments (at amortized cost, $19,524,000)		$ 19,524,000
Total
Investments — 104.3% (identified cost $920,806,126)		$ 945,554,298

5

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COVERED CALL OPTIONS WRITTEN — (4.3)%

| Afiliated Managers
Group, Inc., Expires 12/16/06, Strike 95.00 | Number of Contracts — 470 | Premium Received — $ 212,532 | Value — $ (387,750 | ) |
| --- | --- | --- | --- | --- |
| Agilent
Technologies, Inc., Expires 11/18/06, Strike 32.50 | 890 | 90,777 | (155,750 | ) |
| Alberto-Culver Co.,
Expires 12/16/06, Strike 50.00 | 825 | 150,145 | (173,250 | ) |
| Alcoa, Inc.,
Expires 10/21/06, Strike 30.00 | 857 | 88,345 | (21,425 | ) |
| Alcoa, Inc.,
Expires 10/21/06, Strike 30.00 | 1,940 | 348,219 | (48,500 | ) |
| Alliant
Technologies, Inc., Expires 01/20/07, Strike 85.00 | 847 | 178,855 | (186,340 | ) |
| Altria Group, Inc.,
Expires 12/16/06, Strike 85.00 | 675 | 126,221 | (27,000 | ) |
| American Express Co.,
Expires 01/20/07, Strike 52.50 | 760 | 189,614 | (372,400 | ) |
| Amgen, Inc.,
Expires 10/21/06, Strike 65.00 | 495 | 233,413 | (345,800 | ) |
| Analog
Devices, Inc., Expires 12/16/06, Strike 30.00 | 1,750 | 283,491 | (249,375 | ) |
| AON Corp., Expires
10/21/06, Strike 35.00 | 2,505 | 331,805 | (75,150 | ) |
| Apple
Computer, Inc., Expires 10/21/06, Strike 57.50 | 705 | 420,872 | (1,402,950 | ) |
| Apple
Computer, Inc., Expires 10/21/06, Strike 75.00 | 1,159 | 286,264 | (521,550 | ) |
| Atheros
Communications, Inc., Expires 12/16/06, Strike 17.50 | 3,230 | 668,589 | (775,200 | ) |
| Baxter
International, Inc., Expires 11/18/06, Strike 40.00 | 1,520 | 231,033 | (881,600 | ) |
| Baxter
International, Inc., Expires 11/18/06, Strike 42.50 | 788 | 265,548 | (275,800 | ) |
| BJ’s Wholesale
Club, Inc., Expires 12/16/06, Strike 30.00 | 3,652 | 354,233 | (639,100 | ) |
| Boeing Company, Expires
11/18/06, Strike 80.00 | 650 | 271,042 | (156,000 | ) |
| Borgwarner, Inc.,
Expires 10/21/06, Strike 60.00 | 975 | 255,871 | (29,250 | ) |
| Caremark Rx, Inc.,
Expires 12/16/06, Strike 60.00 | 1,200 | 174,139 | (195,600 | ) |
| CenturyTel, Inc.,
Expires 10/21/06, Strike 40.00 | 2,443 | 249,673 | (146,580 | ) |
| Charles Schwab Corp.
(The), Expires 12/16/06, Strike 15.00 | 3,710 | 536,078 | (1,168,650 | ) |
| CheckFree Corp., Expires
11/18/06, Strike 40.00 | 1,870 | 463,403 | (635,800 | ) |
| Cintas Corp., Expires
11/18/06, Strike 35.00 | 340 | 77,178 | (207,400 | ) |

6

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| Cisco
Systems, Inc., Expires 10/21/06, Strike 20.00 | 1,480 | $ | $ | ) |
| --- | --- | --- | --- | --- |
| Cisco
Systems, Inc., Expires 10/21/06, Strike 22.5.0 | 2,966 | 176,471 | (237,280 | ) |
| Citigroup, Inc.,
Expires 12/16/06, Strike 50.00 | 1,365 | 152,875 | (163,800 | ) |
| Colgate-Palmolive Co.,
Expires 11/18/06, Strike 60.00 | 1,478 | 383,749 | (428,620 | ) |
| Comcast Corp.,
Class A, Expires 10/21/06, Strike 32.50 | 1,075 | 146,056 | (494,500 | ) |
| Comcast Corp., Expires
10/21/06, Strike 35.00 | 1,562 | 171,159 | (351,450 | ) |
| Cypress Semiconductor
Corp., Expires 12/16/06, Strike 15.00 | 2,420 | 331,530 | (726,000 | ) |
| Davita, Inc.,
Expires 10/21/06, Strike 50.00 | 1,355 | 341,449 | (1,097,550 | ) |
| Davita, Inc.,
Expires 10/21/06, Strike 55.00 | 900 | 330,290 | (315,000 | ) |
| Deere & Co.,
Expires 12/16/06, Strike 75.00 | 315 | 158,131 | (348,075 | ) |
| DENTSPLY International, Inc.,
Expires 10/21/06, Strike 30.00 | 945 | 174,366 | (85,050 | ) |
| DENTSPLY
International, Inc., Expires 10/21/06, Strike 32.50 | 1,921 | 208,825 | (19,210 | ) |
| Diamond Offshore
Drilling, Inc., Expires 12/16/06, Strike 75.00 | 765 | 471,990 | (313,650 | ) |
| E*Trade Financial Corp.,
Expires 10/21/06, Strike 25.00 | 2,265 | 190,194 | (90,600 | ) |
| Edwards Lifesciences
Corp., Expires 11/18/06, Strike 45.00 | 2,024 | 491,033 | (541,420 | ) |
| Eli Lilly &
Co., Expires 10/21/06, Strike 55.00 | 1,742 | 295,965 | (435,500 | ) |
| EMC Corp., Expires
10/21/06, Strike 12.00 | 1,065 | 94,250 | (31,950 | ) |
| Emerson Electric Co.,
Expires 12/16/06, Strike 85.00 | 490 | 103,877 | (129,850 | ) |
| Endo Pharaceuticals
Holdings, Inc., Expires 10/21/06, Stirke 30.00 | 1,570 | 324,980 | (431,750 | ) |
| Equifax, Inc. Expires
10/21/06, Strike 30.00 | 295 | 100,893 | (200,600 | ) |
| Express
Scripts, Inc., Expires 11/18/06, Strike 75.00 | 560 | 255,912 | (240,800 | ) |
| Express
Scripts, Inc., Expires 11/18/06, Strike 80.00 | 345 | 154,210 | (72,450 | ) |
| Federated Department
Stores, Inc., Expires 11/18/06, Strike 42.50 | 1,745 | 378,653 | (418,800 | ) |
| Federated Department
Stores, Inc., Expires 11/18/06, Strike 35.00 | 1,155 | 273,727 | (993,300 | ) |
| Fisher Scientific
International, Inc., Expires 12/16/06, Strike 80.00 | 475 | 137,689 | (140,125 | ) |

7

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| Foster Wheeler, Ltd.,
Expires 01/20/07, Strike 40.00 | 455 | $ | $ | ) |
| --- | --- | --- | --- | --- |
| General Dynamics Corp.,
Expires 1/20/07, Strike 70.00 | 2,606 | 1,112,728 | (1,198,760 | ) |
| Google, Inc.,
Expires 12/16/06, Strike 400.00 | 65 | 115,631 | (176,150 | ) |
| Halliburton Co., Expires
10/21/06, Strike 32.50 | 1,580 | 240,927 | (7,900 | ) |
| Halliburton Co., Expires
10/21/06, Strike 35.00 | 950 | 57,948 | (4,750 | ) |
| Harrah’s
Entertainment, Inc., Expires 11/18/06, Strike 75.00 | 665 | 317,195 | (49,875 | ) |
| Harris Corp., Expires
11/18/06, Strike 40.00 | 445 | 130,363 | (235,850 | ) |
| Harris Corp., Expires
11/18/06, Strike 45.00 | 795 | 218,396 | (186,825 | ) |
| Henry Schein, Inc.,
Expires 10/21/06, Strike 50.00 | 1,582 | 185,908 | (213,570 | ) |
| Hewlett-Packard Co.,
Expires 11/18/06, Strike 35.00 | 1,973 | 428,981 | (591,900 | ) |
| Intersil Corp.,
Class A, Expires 10/21/06, Strike 25.00 | 1,565 | 261,347 | (179,975 | ) |
| Johnson &
Johnson, Expires 10/21/06, Strike 60.00 | 850 | 256,964 | (423,300 | ) |
| Johnson &
Johnson, Expires 10/21/06, Strike 65.00 | 968 | 92,925 | (82,280 | ) |
| L-3 Communications
Holdings, Inc., Expires 10/21/06, Strike 80.00 | 795 | 170,809 | (71,550 | ) |
| Linear Technology Corp.,
Expires 11/18/06, Strike 35.00 | 1,305 | 270,127 | (39,150 | ) |
| Liz
Claiborne, Inc., Expires 10/21/06, Strike 40.00 | 2,160 | 231,113 | (145,800 | ) |
| Marriot International, Inc.,
Class A, Expires 10/21/06, Strike 37.50 | 1,230 | 248,698 | (239,850 | ) |
| Maxim Integrated
Products, Inc., Expires 11/18/06, Strike 30.00 | 315 | 63,628 | (33,075 | ) |
| McGraw-Hill
Companies, Inc., Expires 11/18/06, Strike 55.00 | 2,000 | 568,362 | (800,000 | ) |
| Mellon Financial Corp.,
Expires 12/16/06, Strike 35.00 | 825 | 92,397 | (371,250 | ) |
| MEMC Electronic
Materials, Inc., Expires 10/21/06, Strike 40.00 | 2,500 | 657,730 | (175,000 | ) |
| Microchip
Technology, Inc., Expires 10/21/06, Strike 35.00 | 2,788 | 409,823 | (83,640 | ) |
| Micron
Technology, Inc., Expires 10/21/06, Strike 16.00 | 2,985 | 264,164 | (507,450 | ) |
| Micron
Technology, Inc., Expires 10/21/06, Strike 17.00 | 3,140 | 351,669 | (304,580 | ) |

8

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| Millipore Corp., Expires
10/21/06, Strike 65.00 | 480 | $ | $ | ) |
| --- | --- | --- | --- | --- |
| NCR Corp., Expires
01/20/07, Strike 40.00 | 2,532 | 211,415 | (614,010 | ) |
| Network
Appliance, Inc., Expires 12/16/06, Strike 35.00 | 3,100 | 672,679 | (1,271,000 | ) |
| NIKE, Inc., Expires
10/21/06, Strike 85.00 | 865 | 152,643 | (311,400 | ) |
| Noble Corp., Expires
12/16/06, Strike 70.00 | 1,135 | 452,113 | (238,350 | ) |
| Nordstrom, Inc.,
Expires 10/21/06, Strike 35.00 | 790 | 147,725 | (608,300 | ) |
| Nordstrom, Inc.,
Expires 10/21/06, Strike 40.00 | 1,353 | 103,542 | (358,545 | ) |
| Novartis AG ADR, Expires
10/21/06, Strike 55.00 | 800 | 149,595 | (300,000 | ) |
| NTL, Inc., Expires
12/16/06, Strike 25.00 | 1,145 | 156,860 | (251,900 | ) |
| Oracle Corp., Expires
12/16/06, Strike 13.00 | 4,560 | 647,500 | (2,234,400 | ) |
| Parker Hannifin Corp.,
Expires 11/18/06, Strike 80.00 | 1,190 | 186,674 | (226,100 | ) |
| Paychex, Inc.,
Expires 12/16/06, Strike 35.00 | 415 | 69,303 | (107,900 | ) |
| Procter &
Gamble Co., Expires 10/21/06, Strike 55.00 | 710 | 193,114 | (511,200 | ) |
| QUALCOMM, Inc.,
Expires 01/20/07, Strike 40 | 760 | 183,914 | (129,200 | ) |
| Research in Motion,
Ltd., Expires 12/16/06. Strike 65.00 | 340 | 211,473 | (1,329,400 | ) |
| Rockwell
Collins, Inc., Expires 10/21/06, Strike 55.00 | 1,789 | 232,263 | (178,900 | ) |
| Saks, Inc., Expires
11/18/06, Strike 16.00 | 3,060 | 335,212 | (474,300 | ) |
| Schlumberger, Ltd.,
Expires 11/18/06, Strike 60.00 | 110 | 39,269 | (49,500 | ) |
| Schlumberger, Ltd.,
Expires 11/18/06, Strike 67.50 | 950 | 411,366 | (104,500 | ) |
| Seagate Technology,
Expires 1/20/07, Strike 22.50 | 1,315 | 173,575 | (309,025 | ) |
| Smithfield
Foods, Inc., Expires 10/21/06, Strike 30.00 | 1,470 | 164,635 | (22,050 | ) |
| St. Paul Travelers
Companies, Inc., Expires 10/21/06, Strike 45.00 | 1,045 | 164,060 | (219,450 | ) |
| Staples, Inc.,
Expires 12/16/06, Strike 22.50 | 1,792 | 227,577 | (456,960 | ) |
| Starwood
Hotels & Resorts Worldwide, Inc., Expires 11/18/06, Strike
60.00 | 833 | 294,152 | (133,280 | ) |
| Tellabs, Inc.,
Expires 12/16/06, Strike 10.00 | 3,350 | 241,192 | (527,625 | ) |
| Teradyne, Inc.,
Expires 10/21/06, Strike 15.00 | 6,550 | 457,778 | (131,000 | ) |
| Texas
Instruments, Inc., Expires 10/21/06, Strike 30.00 | 2,195 | 337,120 | (752,885 | ) |

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| Texas
Instruments, Inc., Expires 10/21/06, Strike 32.50 | 1,975 | $ | $ | ) |
| --- | --- | --- | --- | --- |
| Thoratic Corp., Expires
10/21/06, Strike 15.00 | 1,750 | 133,796 | (170,625 | ) |
| Tim Hortons, Inc.,
Expires 10/21/06, Strike 25.00 | 720 | 73,438 | (133,200 | ) |
| Time Warner, Inc.,
Expires 10/21/06, Strike 17.00 | 2,330 | 212,023 | (314,550 | ) |
| Trinity
Industries, Inc., Expires 1/20/07, Strike 35.00 | 870 | 220,483 | (147,900 | ) |
| Tyco International,
Ltd., Expires 10/21/06, Strike 27.50 | 1,520 | 172,180 | (106,400 | ) |
| UBS AG, Expires 12/16/06,
Strike 55.00 | 400 | 96,797 | (216,000 | ) |
| United
Rentals, Inc., Expires 12/16/06, Strike 30.00 | 1,070 | 253,582 | (26,750 | ) |
| United Technologies
Corp., Expires 11/18/06, Strike 65.00 | 1,301 | 204,883 | (149,615 | ) |
| Wellpoint, Inc.,
Expires 12/16/06, Strike 80.00 | 655 | 145,405 | (117,900 | ) |
| Willis Group Holdings,
Ltd., Expires 1/20/07, Strike 40.00 | 1,300 | 49,178 | (143,000 | ) |
| William Wrigley Jr. Co.,
Expires 12/16/06, Strike 45.00 | 380 | 116,656 | (83,600 | ) |
| Wyeth, Expires 10/21/06,
Strike 45.00 | 603 | 135,369 | (363,006 | ) |
| Wyeth, Expires 10/21/06,
Strike 50.00 | 1,359 | 131,466 | (231,030 | ) |
| Total Call Options Written (premiums received, $28,273,537) | | $ 28,273,537 | $ (38,461,686 | ) |
| Other
Assets, Less Liabilities—(0.0)% | | | $ (550,548 | ) |
| Net Assets—100.0% | | | $ 906,542,064 | |

ADR	American Depository Receipt
(1)	A portion of each common stock holding has been
segregated as collateral for outstanding options written.
(2)	Non-income producing security.

The cost and unrealized appreciation (depreciation) in value of the investments owned at September 30, 2006, as computed on a federal income tax basis, were as follows:

| Aggregate
cost | $ | |
| --- | --- | --- |
| Gross unrealized
appreciation | $ 55,241,542 | |
| Gross unrealized
depreciation | (31,585,578 | ) |
| Net unrealized appreciation | $ 23,655,964 | |

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Written call option activity for the period ended September 30, 2006 was as follows:

| Outstanding,
beginning of period | Number of Contracts — 153,418 | | Premiums Received — $ 27,804,153 | |
| --- | --- | --- | --- | --- |
| Options written | 416,170 | | 77,755,347 | |
| Options
terminated in closing purchase transactions | (291,363 | ) | (54,157,162 | ) |
| Options exercised | (103,875 | ) | (21,837,532 | ) |
| Options expired | (12,408 | ) | (1,291,269 | ) |
| Outstanding, end
of period | 161,942 | | $ 28,273,537 | |

At September 30, 2006, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

11

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Item 2. Controls and Procedures

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

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

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Signatures

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

Eaton Vance Enhanced Equity Income Fund II

By:	/s/ Duncan W. Richardson
	Duncan W. Richardson
	President and Principal Executive Officer
Date:	November 22, 2006

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/ Duncan W. Richardson
	Duncan W. Richardson
	President and Principal Executive Officer
Date:	November 22, 2006
By:	/s/ Barbara E. Campbell
	Barbara E. Campbell
	Treasurer and Principal Financial Officer
Date:	November 22, 2006

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