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Eaton Vance Senior Income Trust

Regulatory Filings Aug 25, 2016

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N-CSR 1 d226574dncsr.htm EATON VANCE SENIOR INCOME TRUST Eaton Vance Senior Income Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-09013

Eaton Vance Senior Income Trust

(Exact Name of Registrant as Specified in Charter)

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)

June 30

Date of Fiscal Year End

June 30, 2016

Date of Reporting Period

Item 1. Reports to Stockholders

Eaton Vance

Senior Income Trust (EVF)

Annual Report

June 30, 2016

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.

Annual Report June 30, 2016

Eaton Vance

Senior Income Trust

Table of Contents

Management’s Discussion of Fund Performance 2
Performance 3
Fund Profile 4
Endnotes and Additional Disclosures 5
Financial Statements 6
Report of Independent Registered Public Accounting Firm 42
Notice to Shareholders 43
Federal Tax Information 44
Dividend Reinvestment Plan 45
Board of Trustees’ Contract Approval 47
Management and Organization 50
Important Notices 53

Eaton Vance

Senior Income Trust

June 30, 2016

Management’s Discussion of Fund Performance 1

Economic and Market Conditions

The U.S. floating-rate loan market was mixed over the 12-month period ended June 30, 2016, with the S&P/LSTA Leveraged Loan Index, 2 a broad barometer of the loan market, returning 0.94% during the period. Positive returns for the asset class were driven by income, with price declines during 2015 detracting from returns

Technical conditions (i.e., the balance of market supply and demand) put downward pressure on loan prices from the beginning of the period through the end of 2015. The supply of new loans outpaced institutional inflows, while the retail side of the loan market experienced net outflows in 2015 and the first two months of 2016.

From the start of the period through February 2016, falling energy prices also negatively impacted the loan market. While the floating-rate loan market has relatively small energy exposure, ongoing negative headlines about the energy sector appeared to weigh on loan prices in general. In addition, concerns regarding a slowdown in global growth, weakness in the Chinese economy and lower commodity prices all contributed to weak technical conditions.

However, from March through mid-June of 2016, oil prices rebounded, market sentiment improved and corporate fundamentals (which had continued to remain largely positive during the period) began to prevail. Flows into the loan market moved from negative to flat and loan prices rose. Just a week before period-end, the United Kingdom’s vote to leave the European Union threw many asset classes into decline, but the effect on the loan market was minimal. Loan prices declined immediately after the vote, but had largely recovered by period-end on June 30, 2016.

With the U.S. economy continuing its low-growth recovery during the period, improving corporate fundamentals kept the default rate fairly benign. The loan default rate, a measure of corporate health and credit risk in the overall market, was 1.97%, well below the market’s 10-year average of 3.1%, according to Standard & Poor’s Leveraged Commentary & Data.

Fund Performance

For the 12-month period ended June 30, 2016, Eaton Vance Senior Income Trust (the Fund) shares at net asset value (NAV) had a total return of 1.57%, outperforming the 0.94% return of the S&P/LSTA Leveraged Loan Index (the Index).

Under normal market conditions, the Fund invests at least 80% of its total assets in senior loans of domestic and foreign borrowers that are denominated in U.S. dollars, euros, British pounds, Swiss francs, Canadian dollars and Australian dollars. In keeping with its objective to provide a high level

of current income, consistent with the preservation of capital, the Fund has historically tended to overweight higher-rated 8 loans relative to the Index. This strategy may help the Fund experience limited credit losses over time, but may detract from relative results versus the Index in times when lower-rated loans perform well.

For the 12-month period, BBB-rated loans in the Index returned 3.76%, BB-rated loans in the Index returned 2.54%, B-rated loans in the Index returned 0.85%, CCC-rated loans in the Index returned –2.13%, and D-rated (defaulted) loans in the Index returned –31.11%. The negative performance of the D-rated category was due in large part to the continued decline of loans issued by Energy Future Holdings, also known as TXU, a major Index component that defaulted in 2014 but was not held by the Fund. Across the ratings tiers, the Fund’s overweight to higher-quality BBB- and BB-rated loans, which outperformed the Index during the period, and underweight to CCC-rated and D-rated loans aided relative performance versus the Index.

The Fund’s employment of investment leverage 6 had no meaningful impact on performance versus the Index, which does not employ leverage. While leverage has the effect of magnifying a fund’s exposure to its underlying investments in both up and down market environments, during this period the additional income earned by utilizing leverage was reduced by the magnified negative contribution from declining loan prices during the 12-month period ending June 30, 2016.

Although the Fund had exposure to high-yield bonds, which outperformed the loan market during the period, the Fund’s high-yield exposure did not materially affect Fund performance versus the Index, which does not include high-yield bonds.

On a sector-level basis, the Fund’s underweight to utilities and avoidance of TXU contributed to the Fund’s relative results versus the Index, as the utilities sector trailed the overall loan market, as represented by the Index, during the period. The Fund’s overweight to the financial intermediaries sector, which outperformed the Index during the period, and underweight to the forest products sector, which underperformed the Index during the period, helped the Fund’s performance versus the Index. In contrast, the Fund’s underweight to lodging and casinos, a sector that outperformed the Index during the period, detracted from the Fund’s relative performance versus the Index. Overweights to the oil and gas sector and the nonferrous metals/minerals sector, two sectors that underperformed the Index during the period, also detracted from Fund results versus the Index.

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 market price (as applicable) with all distributions reinvested and include management fees and other expenses. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, 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, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com.

2

Eaton Vance

Senior Income Trust

June 30, 2016

Performance 2,3

Portfolio Managers Scott H. Page, CFA and John Redding

% Average Annual Total Returns — Fund at NAV 10/30/1998 1.57 % 4.89 % 4.41 %
Fund at Market Price — 3.77 2.90 4.11
S&P/LSTA Leveraged Loan Index — 0.94 % 3.79 % 4.46 %
% Premium/Discount to NAV 4
–9.62 %
Distributions 5
Total Distributions per share for the period $ 0.412
Distribution Rate at NAV 6.14 %
Distribution Rate at Market Price 6.79 %
% Total Leverage 6
Auction Preferred Shares (APS) 28.44 %
Borrowings 6.46

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 market price (as applicable) with all distributions reinvested and include management fees and other expenses. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, 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, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com.

3

Eaton Vance

Senior Income Trust

June 30, 2016

Fund Profile

Top 10 Issuers (% of total investments) 7

Avago Technologies Cayman Ltd. 1.2
Valeant Pharmaceuticals International, Inc. 1.2
Asurion, LLC 1.1
TransDigm, Inc. 1.1
Reynolds Group Holdings, Inc. 1.1
Community Health Systems, Inc. 1.1
Calpine Corporation 1.0
Intelsat Jackson Holdings S.A. 0.9
Virgin Media Investment Holdings Limited 0.9
Telesat Canada 0.8
Total 10.4 %

Top 10 Sectors (% of total investments) 7

Health Care 10.3
Electronics/Electrical 9.9
Business Equipment and Services 6.4
Retailers (Except Food and Drug) 5.2
Chemicals and Plastics 5.0
Lodging and Casinos 4.1
Leisure Goods/Activities/Movies 3.9
Oil and Gas 3.3
Food Products 3.1
Insurance 3.0
Total 54.2 %

Credit Quality (% of bonds, loans and asset-backed securities) 8

See Endnotes and Additional Disclosures in this report.

4

Eaton Vance

Senior Income Trust

June 30, 2016

Endnotes and Additional Disclosures

1 The views expressed in this report are those of the portfolio manager(s) and are current only through the date stated at the top of this page. These views are subject to change at any time based upon market or other conditions, and Eaton Vance and the Fund(s) disclaim any responsibility to update such views. These views may not be relied upon as investment advice and, because investment decisions are based on many factors, may not be relied upon as an indication of trading intent on behalf of any Eaton Vance fund. This commentary may contain statements that are not historical facts, referred to as “forward looking statements”. The Fund’s actual future results may differ significantly from those stated in any forward looking statement, depending on factors such as changes in securities or financial markets or general economic conditions, the volume of sales and purchases of Fund shares, the continuation of investment advisory, administrative and service contracts, and other risks discussed from time to time in the Fund’s filings with the Securities and Exchange Commission.

2 S&P/LSTA Leveraged Loan Index is an unmanaged index of the institutional leveraged loan market. 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.

3 Performance results reflect the effects of leverage. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable.

4 The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to http://eatonvance.com/closedend.

5 The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. For additional information about nondividend distributions, please refer to Eaton Vance Closed-End Fund Distribution Notices (19a) posted on our website, eatonvance.com. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance.com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change.

6 Leverage represents the liquidation value of the Fund’s APS and borrowings outstanding as a percentage of Fund net assets applicable to common shares plus APS and borrowings outstanding. Use of leverage creates an opportunity for income, but creates risks including greater price volatility. The cost of leverage rises and falls with changes in short-term interest rates. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time.

7 Excludes cash and cash equivalents.

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

Fund profile subject to change due to active management.

5

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments

| Senior Floating-Rate
Loans — 134.6% (1) — Borrower/Tranche Description | Principal Amount* (000’s omitted) | | Value |
| --- | --- | --- | --- |
| Aerospace and Defense — 2.3% | | | |
| BE Aerospace, Inc. | | | |
| Term Loan, 3.75%, Maturing December 16, 2021 | | 469 | $ 471,612 |
| IAP Worldwide Services, Inc. | | | |
| Revolving Loan, Maturing July 18, 2018 (2) | | 161 | 148,371 |
| Term Loan - Second Lien, 8.00%, Maturing
July 18, 2019 (3) | | 218 | 174,515 |
| Silver II US Holdings, LLC | | | |
| Term Loan, 4.00%, Maturing December 13, 2019 | | 894 | 807,266 |
| TransDigm, Inc. | | | |
| Term Loan, 3.75%, Maturing February 28, 2020 | | 1,248 | 1,243,681 |
| Term Loan, 3.75%, Maturing June 4, 2021 | | 882 | 875,227 |
| Term Loan, 3.75%, Maturing June 9, 2023 | | 462 | 457,080 |
| Term Loan, 3.75%, Maturing June 9, 2023 | | 513 | 507,866 |
| Term Loan, 3.75%, Maturing June 9, 2023 | | 1,136 | 1,121,987 |
| | | | $ 5,807,605 |
| Air Transport — 0.5% | | | |
| Virgin America, Inc. | | | |
| Term Loan, 4.50%, Maturing April 4, 2019 | | 1,150 | $ 1,145,285 |
| | | | $ 1,145,285 |
| Automotive — 2.8% | | | |
| Allison Transmission, Inc. | | | |
| Term Loan, 3.50%, Maturing August 23, 2019 | | 1 | $ 1,273 |
| CS Intermediate Holdco 2, LLC | | | |
| Term Loan, 4.00%, Maturing April 4, 2021 | | 617 | 616,720 |
| Dayco Products, LLC | | | |
| Term Loan, 5.25%, Maturing December 12, 2019 | | 464 | 461,991 |
| FCA US, LLC | | | |
| Term Loan, 3.50%, Maturing May 24, 2017 | | 534 | 534,283 |
| Term Loan, 3.25%, Maturing December 31, 2018 | | 604 | 605,181 |
| Federal-Mogul Holdings Corporation | | | |
| Term Loan, 4.75%, Maturing April 15, 2021 | | 1,916 | 1,782,961 |
| Horizon Global Corporation | | | |
| Term Loan, 7.00%, Maturing June 30, 2021 | | 238 | 237,500 |
| MPG Holdco I, Inc. | | | |
| Term Loan, 3.75%, Maturing October 20, 2021 | | 1,016 | 1,011,264 |
| Schaeffler AG | | | |
| Term Loan, 4.25%, Maturing May 15, 2020 | | 108 | 108,343 |
| TI Group Automotive Systems, LLC | | | |
| Term Loan, 4.50%, Maturing June 30, 2022 | EUR | 372 | 410,110 |
| Term Loan, 4.50%, Maturing June 30, 2022 | | 571 | 560,700 |

Borrower/Tranche Description Value
Automotive (continued)
Tower Automotive Holdings USA, LLC
Term Loan, 4.00%, Maturing April 23, 2020 322 $ 320,094
Visteon Corporation
Term Loan, 3.50%, Maturing April 9, 2021 306 305,676
$ 6,956,096
Beverage and Tobacco — 0.3%
Flavors Holdings, Inc.
Term Loan, 6.75%, Maturing April 3, 2020 342 $ 304,119
Term Loan - Second Lien, 11.00%, Maturing October 3, 2021 500 412,500
$ 716,619
Brokerage / Securities Dealers / Investment
Houses — 1.0%
Aretec Group, Inc.
Term Loan, 8.00%, Maturing May 25, 2023 478 $ 479,493
Term Loan - Second Lien, 6.50%, (2.00% Cash, 4.50% PIK), Maturing May 23, 2021 1,158 885,586
Astro AB Borrower, Inc.
Term Loan, 5.50%, Maturing April 30, 2022 627 621,185
Term Loan - Second Lien, 9.75%, Maturing March 3, 2023 125 120,625
Salient Partners L.P.
Term Loan, 7.50%, Maturing May 19, 2021 391 375,856
$ 2,482,745
Building and Development — 3.0%
ABC Supply Co., Inc.
Term Loan, 3.50%, Maturing April 16, 2020 486 $ 486,393
Americold Realty Operating Partnership L.P.
Term Loan, Maturing December 1, 2022 (2) 200 200,620
Auction.com, LLC
Term Loan, 6.00%, Maturing May 12, 2019 494 493,133
CPG International, Inc.
Term Loan, 4.75%, Maturing September 30, 2020 690 681,083
DTZ U.S. Borrower, LLC
Term Loan, 4.25%, Maturing November 4, 2021 1,761 1,745,142
Gates Global, Inc.
Term Loan, 4.25%, Maturing July 6, 2021 2,190 2,087,035
Quikrete Holdings, Inc.
Term Loan, 4.00%, Maturing September 28, 2020 524 523,712
RE/MAX International, Inc.
Term Loan, 4.00%, Maturing July 31, 2020 698 694,764

6 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Building and Development (continued)
Summit Materials Companies I, LLC
Term Loan, 4.00%, Maturing July 17, 2022 297 $ 296,822
WireCo WorldGroup, Inc.
Term Loan, 6.00%, Maturing February 15, 2017 290 289,269
$ 7,497,973
Business Equipment and
Services — 9.7%
Acosta Holdco, Inc.
Term Loan, 4.25%, Maturing September 26, 2021 1,625 $ 1,568,446
AlixPartners, LLP
Term Loan, 4.50%, Maturing July 28, 2022 798 798,415
Altisource Solutions S.a.r.l.
Term Loan, 4.50%, Maturing December 9, 2020 314 268,319
Brickman Group Ltd., LLC
Term Loan, 4.00%, Maturing December 18, 2020 390 384,462
Brock Holdings III, Inc.
Term Loan, 6.00%, Maturing March 16, 2017 533 505,676
CCC Information Services, Inc.
Term Loan, 4.00%, Maturing December 20, 2019 217 214,720
Ceridian, LLC
Term Loan, 4.50%, Maturing September 15, 2020 301 291,669
Corporate Capital Trust, Inc.
Term Loan, 4.00%, Maturing May 20, 2019 464 461,109
CPM Holdings, Inc.
Term Loan, 6.00%, Maturing April 11, 2022 124 123,789
Crossmark Holdings, Inc.
Term Loan, 4.50%, Maturing December 20, 2019 711 488,512
Education Management, LLC
Term Loan, 5.50%, Maturing July 2,
2020 (3) 135 75,988
Term Loan, 8.50%, (2.00% Cash, 6.50% PIK), Maturing July 2,
2020 (3) 243 13,046
EIG Investors Corp.
Term Loan, 6.48%, Maturing November 9, 2019 2,271 2,174,462
Emdeon Business Services, LLC
Term Loan, 3.75%, Maturing November 2, 2018 697 697,366
Extreme Reach, Inc.
Term Loan, 7.25%, Maturing February 7, 2020 714 714,890
Garda World Security Corporation
Term Loan, 4.75%, Maturing November 6, 2020 CAD 1,014 745,559
Global Payments, Inc.
Term Loan, 3.96%, Maturing April 22, 2023 325 327,911
IG Investment Holdings, LLC
Term Loan, 6.00%, Maturing October 29, 2021 795 791,095
IMS Health Incorporated
Term Loan, 3.50%, Maturing March 17, 2021 1,187 1,180,269
Borrower/Tranche Description Value
Business Equipment and Services (continued)
Information Resources, Inc.
Term Loan, 4.75%, Maturing September 30, 2020 1,579 $ 1,580,570
ION Trading Finance Limited
Term Loan, 4.25%, Maturing June 10, 2021 223 222,196
Term Loan, 4.50%, Maturing June 10, 2021 EUR 513 569,695
J.D. Power and Associates
Term Loan, Maturing May 24, 2023 (2) 950 950,000
KAR Auction Services, Inc.
Term Loan, 3.94%, Maturing March 11, 2021 1,353 1,358,134
Kronos Incorporated
Term Loan, 4.50%, Maturing October 30, 2019 1,175 1,173,543
Term Loan - Second Lien, 9.75%, Maturing April 30, 2020 549 554,029
MCS AMS Sub-Holdings, LLC
Term Loan, 7.50%, Maturing October 15, 2019 457 420,430
Monitronics International, Inc.
Term Loan, 4.25%, Maturing March 23, 2018 263 261,147
Term Loan, 4.50%, Maturing April 11, 2022 321 303,687
PGX Holdings, Inc.
Term Loan, 5.75%, Maturing September 29, 2020 660 659,826
Prime Security Services Borrower, LLC
Term Loan, 4.75%, Maturing May 2, 2022 1,050 1,052,625
Sensus USA, Inc.
Term Loan, 6.50%, Maturing March 16, 2023 550 545,875
ServiceMaster Company
Term Loan, 4.25%, Maturing July 1, 2021 1,919 1,921,717
TNS, Inc.
Term Loan, 5.00%, Maturing February 14, 2020 282 282,183
Travelport Finance (Luxembourg) S.a.r.l.
Term Loan, 5.00%, Maturing September 2, 2021 566 562,812
WASH Multifamily Laundry Systems, LLC
Term Loan, 4.25%, Maturing May 14, 2022 127 125,049
West Corporation
Term Loan, 3.25%, Maturing June 30, 2018 42 41,474
$ 24,410,695
Cable and Satellite
Television — 3.5%
Altice US Finance I Corporation
Term Loan, 4.25%, Maturing December 14, 2022 794 $ 793,501
Charter Communications Operating, LLC
Term Loan, 3.50%, Maturing January 24, 2023 998 999,103
MCC Iowa, LLC
Term Loan, 3.75%, Maturing June 30, 2021 417 416,432
Neptune Finco Corp.
Term Loan, 5.00%, Maturing October 9, 2022 1,900 1,907,600

7 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Cable and Satellite Television (continued)
Numericable Group SA
Term Loan, 4.56%, Maturing July 31, 2022 174 $ 172,322
Term Loan, 4.00%, Maturing July 31, 2023 EUR 348 385,142
Numericable U.S., LLC
Term Loan, 5.00%, Maturing January 15, 2024 400 399,750
Telenet International Finance S.a.r.l.
Term Loan, 4.25%, Maturing June 30, 2024 400 398,333
Virgin Media Investment Holdings Limited
Term Loan, 3.65%, Maturing June 30, 2023 1,323 1,291,939
Term Loan, 4.25%, Maturing June 30, 2023 GBP 750 979,538
Ziggo B.V.
Term Loan, 3.75%, Maturing January 15, 2022 EUR 191 209,377
Term Loan, 3.75%, Maturing January 15, 2022 EUR 297 325,012
Term Loan, 3.75%, Maturing January 15, 2022 EUR 537 588,276
$ 8,866,325
Chemicals and Plastics — 7.0%
Allnex (Luxembourg) & Cy S.C.A.
Term Loan, 4.50%, Maturing October 3, 2019 140 $ 140,119
Allnex USA, Inc.
Term Loan, 4.50%, Maturing October 3, 2019 73 72,701
Aruba Investments, Inc.
Term Loan, 4.50%, Maturing February 2, 2022 149 149,425
Axalta Coating Systems US Holdings, Inc.
Term Loan, 3.75%, Maturing February 1, 2020 1,616 1,616,669
Chemours Company (The)
Term Loan, 3.75%, Maturing May 12, 2022 246 237,831
Emerald Performance Materials, LLC
Term Loan, 4.50%, Maturing August 1, 2021 241 240,590
Term Loan - Second Lien, 7.75%, Maturing August 1, 2022 275 268,125
Flint Group GmbH
Term Loan, 4.50%, Maturing September 7, 2021 73 72,442
Flint Group US, LLC
Term Loan, 4.50%, Maturing September 7, 2021 443 438,213
GCP Applied Technologies, Inc.
Term Loan, 5.25%, Maturing February 3, 2022 274 275,427
Gemini HDPE, LLC
Term Loan, 4.75%, Maturing August 7, 2021 811 804,497
Huntsman International, LLC
Term Loan, 3.75%, Maturing October 1, 2021 467 465,863
Term Loan, 4.25%, Maturing April 1, 2023 249 249,998
Ineos Finance PLC
Term Loan, 4.25%, Maturing March 31, 2022 EUR 222 241,999
Borrower/Tranche Description Value
Chemicals and Plastics (continued)
Ineos US Finance, LLC
Term Loan, 3.75%, Maturing May 4, 2018 2,061 $ 2,046,452
Term Loan, 4.25%, Maturing March 31, 2022 346 340,870
Kraton Polymers, LLC
Term Loan, 6.00%, Maturing January 6, 2022 650 641,306
Kronos Worldwide, Inc.
Term Loan, 4.00%, Maturing February 18, 2020 147 137,553
MacDermid, Inc.
Term Loan, 5.50%, Maturing June 7, 2020 273 269,810
Term Loan, 5.50%, Maturing June 7, 2020 296 291,622
Term Loan, 5.50%, Maturing June 7, 2020 634 626,614
Minerals Technologies, Inc.
Term Loan, 3.75%, Maturing May 9, 2021 555 554,880
Orion Engineered Carbons GmbH
Term Loan, 4.75%, Maturing July 25, 2021 EUR 413 460,633
Term Loan, 4.75%, Maturing July 25, 2021 549 551,511
OXEA Finance, LLC
Term Loan, 4.25%, Maturing January 15, 2020 341 324,187
PolyOne Corporation
Term Loan, 3.50%, Maturing November 11, 2022 249 249,373
PQ Corporation
Term Loan, 5.75%, Maturing November 4, 2022 1,075 1,077,464
Solenis International L.P.
Term Loan, 4.25%, Maturing July 31, 2021 147 146,125
Term Loan, 4.50%, Maturing July 31, 2021 EUR 467 517,906
Sonneborn Refined Products B.V.
Term Loan, 4.75%, Maturing December 10, 2020 31 31,400
Sonneborn, LLC
Term Loan, 4.75%, Maturing December 10, 2020 178 177,936
Trinseo Materials Operating S.C.A.
Term Loan, 4.25%, Maturing November 5, 2021 149 148,222
Tronox Pigments (Netherlands) B.V.
Term Loan, 4.50%, Maturing March 19, 2020 1,477 1,414,620
Univar, Inc.
Term Loan, 4.25%, Maturing July 1, 2022 1,588 1,571,723
Zep, Inc.
Term Loan, 5.50%, Maturing June 27, 2022 668 669,503
$ 17,523,609
Clothing / Textiles — 0.3%
Ascena Retail Group, Inc.
Term Loan, 5.25%, Maturing August 21, 2022 796 $ 760,534
$ 760,534

8 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Conglomerates — 0.8%
Bestway UK Holdco Limited
Term Loan, 5.01%, Maturing October 6, 2021 GBP 551 $ 729,458
RGIS Services, LLC
Term Loan, 5.50%, Maturing October 18, 2017 1,354 1,171,642
$ 1,901,100
Containers and Glass Products — 3.0%
Berry Plastics Holding Corporation
Term Loan, 3.50%, Maturing February 8, 2020 1,040 $ 1,036,635
Term Loan, 3.50%, Maturing January 6, 2021 294 292,853
Term Loan, 3.75%, Maturing October 3, 2022 496 493,453
Hilex Poly Co., LLC
Term Loan, 6.00%, Maturing December 5, 2021 740 742,757
Horizon Holdings III SAS
Term Loan, 4.50%, Maturing August 1, 2022 EUR 800 888,313
Libbey Glass, Inc.
Term Loan, 3.75%, Maturing April 9, 2021 191 190,856
Pelican Products, Inc.
Term Loan, 5.25%, Maturing April 10, 2020 421 407,809
Reynolds Group Holdings, Inc.
Term Loan, 4.50%, Maturing December 1, 2018 1,648 1,650,098
SIG Combibloc Purchase Co. S.a.r.l.
Term Loan, 4.25%, Maturing March 13, 2022 EUR 963 1,069,054
SIG Combibloc US Acquisition, Inc.
Term Loan, 4.25%, Maturing March 13, 2022 593 591,065
TricorBraun, Inc.
Term Loan, 4.00%, Maturing May 3, 2018 298 298,327
$ 7,661,220
Cosmetics / Toiletries — 1.6%
Coty, Inc.
Term Loan, 3.75%, Maturing October 27, 2022 424 $ 424,110
Galleria Co.
Term Loan, 3.75%, Maturing January 26, 2023 825 825,506
KIK Custom Products, Inc.
Term Loan, 6.00%, Maturing August 26, 2022 769 760,855
Revlon Consumer Products Corporation
Term Loan, 4.00%, Maturing October 8, 2019 565 565,038
Sun Products Corporation (The)
Term Loan, 5.50%, Maturing March 23, 2020 1,538 1,541,317
$ 4,116,826
Borrower/Tranche Description Value
Drugs — 3.5%
Alkermes, Inc.
Term Loan, 3.50%, Maturing September 25, 2019 193 $ 192,500
AMAG Pharmaceuticals, Inc.
Term Loan, 4.75%, Maturing August 13, 2021 505 502,154
DPx Holdings B.V.
Term Loan, 4.25%, Maturing March 11, 2021 963 940,446
Endo Luxembourg Finance Company I S.a.r.l.
Term Loan, 3.75%, Maturing September 26, 2022 1,294 1,275,830
Horizon Pharma, Inc.
Term Loan, 4.50%, Maturing May 7, 2021 594 580,450
Mallinckrodt International Finance S.A.
Term Loan, 3.25%, Maturing March 19, 2021 733 724,649
Valeant Pharmaceuticals International, Inc.
Term Loan, 3.72%, Maturing October 20, 2018 852 835,281
Term Loan, 4.75%, Maturing December 11, 2019 535 520,881
Term Loan, 4.75%, Maturing August 5, 2020 1,506 1,462,788
Term Loan, 5.00%, Maturing April 1, 2022 1,715 1,670,315
$ 8,705,294
Ecological Services and
Equipment — 0.7%
ADS Waste Holdings, Inc.
Term Loan, 3.75%, Maturing October 9, 2019 936 $ 923,123
EnergySolutions, LLC
Term Loan, 6.75%, Maturing May 29, 2020 931 907,968
$ 1,831,091
Electronics / Electrical — 15.1%
Answers Corporation
Term Loan, 6.25%, Maturing October 3, 2021 1,035 $ 543,629
Avago Technologies Cayman Ltd.
Term Loan, 4.25%, Maturing February 1, 2023 4,839 4,845,090
Campaign Monitor Finance Pty. Limited
Term Loan, 6.25%, Maturing March 18, 2021 340 328,721
CommScope, Inc.
Term Loan, 3.75%, Maturing December 29, 2022 447 447,532
CompuCom Systems, Inc.
Term Loan, 4.25%, Maturing May 11, 2020 147 99,369
Cypress Semiconductor Corporation
Term Loan, Maturing June 3, 2021 (2) 525 522,703
Dell International, LLC
Term Loan, 4.00%, Maturing April 29, 2020 2,885 2,884,056
Deltek, Inc.
Term Loan, 5.00%, Maturing June 25, 2022 147 146,419
Term Loan - Second Lien, 9.50%, Maturing June 25, 2023 200 202,625

9 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Electronics / Electrical (continued)
Entegris, Inc.
Term Loan, 3.50%, Maturing April 30, 2021 154 $ 154,138
Excelitas Technologies Corp.
Term Loan, 6.00%, Maturing October 31, 2020 409 388,482
Eze Castle Software, Inc.
Term Loan, 4.00%, Maturing April 6, 2020 850 848,317
Term Loan, 4.50%, Maturing April 6, 2020 500 498,125
Go Daddy Operating Company, LLC
Term Loan, 4.25%, Maturing May 13, 2021 2,350 2,352,552
Hyland Software, Inc.
Term Loan, 4.75%, Maturing July 1, 2022 268 266,735
Term Loan - Second Lien, 8.25%, Maturing July 1, 2023 275 266,292
Infor (US), Inc.
Term Loan, 3.75%, Maturing June 3, 2020 2,592 2,529,510
Informatica Corporation
Term Loan, 4.50%, Maturing August 5, 2022 1,092 1,066,094
Lattice Semiconductor Corporation
Term Loan, 5.25%, Maturing March 10, 2021 270 264,858
M/A-COM Technology Solutions Holdings, Inc.
Term Loan, 4.50%, Maturing May 7, 2021 245 246,225
MA FinanceCo., LLC
Term Loan, 4.50%, Maturing November 20, 2019 495 494,938
Term Loan, 5.25%, Maturing November 19, 2021 974 975,102
Magic Newco, LLC
Term Loan, 5.00%, Maturing December 12, 2018 674 674,720
MH Sub I, LLC
Term Loan, 4.75%, Maturing July 8, 2021 614 610,068
Microsemi Corporation
Term Loan, 3.75%, Maturing January 15, 2023 294 293,551
MTS Systems Corporation
Term Loan, Maturing June 21, 2023 (2) 625 624,609
NXP B.V.
Term Loan, 3.75%, Maturing December 7, 2020 453 454,708
ON Semiconductor Corporation
Term Loan, 5.25%, Maturing March 31, 2023 525 528,656
Renaissance Learning, Inc.
Term Loan, 4.50%, Maturing April 9, 2021 1,083 1,064,611
Term Loan - Second Lien, 8.00%, Maturing April 11, 2022 125 115,625
Rocket Software, Inc.
Term Loan, 5.75%, Maturing February 8, 2018 213 212,843
Term Loan - Second Lien, 10.25%, Maturing February 8, 2019 900 898,125
Borrower/Tranche Description Value
Electronics / Electrical (continued)
RP Crown Parent, LLC
Term Loan, 6.00%, Maturing December 21, 2018 2,792 $ 2,638,816
SGS Cayman L.P.
Term Loan, 6.00%, Maturing April 23, 2021 97 97,337
SkillSoft Corporation
Term Loan, 5.75%, Maturing April 28, 2021 1,749 1,399,308
Smart Technologies ULC
Term Loan, 10.50%, Maturing January 31, 2018 254 254,186
SS&C Technologies, Inc.
Term Loan, 4.00%, Maturing July 8, 2022 123 123,231
Term Loan, 4.00%, Maturing July 8, 2022 899 900,588
SunEdison Semiconductor B.V.
Term Loan, 6.50%, Maturing May 27, 2019 974 951,812
SurveyMonkey, Inc.
Term Loan, 6.25%, Maturing February 5, 2019 1,003 988,247
Sutherland Global Services, Inc.
Term Loan, 6.00%, Maturing April 23, 2021 418 418,153
Sybil Software, LLC
Term Loan, 4.25%, Maturing March 20, 2020 760 755,678
Veritas Bermuda Ltd.
Term Loan, 6.63%, Maturing January 27, 2023 549 480,047
Vertafore, Inc.
Term Loan, 4.75%, Maturing June 9, 2023 1,100 1,098,282
Wall Street Systems Delaware, Inc.
Term Loan, 4.25%, Maturing April 30, 2021 564 563,344
Western Digital Corporation
Term Loan, 6.25%, Maturing April 29, 2023 600 603,375
Zebra Technologies Corporation
Term Loan, 4.00%, Maturing October 27, 2021 924 926,794
$ 38,048,226
Financial Intermediaries — 4.0%
Armor Holding II, LLC
Term Loan, 5.75%, Maturing June 26, 2020 983 $ 968,524
Term Loan - Second Lien, 10.25%, Maturing December 26, 2020 725 709,594
Citco Funding, LLC
Term Loan, 4.25%, Maturing June 29, 2018 1,502 1,499,194
First Data Corporation
Term Loan, 4.20%, Maturing July 8, 2022 1,325 1,314,510
Grosvenor Capital Management Holdings, LLP
Term Loan, 3.75%, Maturing January 4, 2021 536 528,567
Guggenheim Partners, LLC
Term Loan, 4.25%, Maturing July 22, 2020 658 658,377

10 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Financial Intermediaries (continued)
Harbourvest Partners, LLC
Term Loan, 3.25%, Maturing February 4, 2021 355 $ 350,458
Medley, LLC
Term Loan, 6.50%, Maturing June 15, 2019 238 240,279
NXT Capital, Inc.
Term Loan, 6.25%, Maturing September 4, 2018 49 48,869
Term Loan, 6.25%, Maturing September 4, 2018 321 320,876
Term Loan, 6.25%, Maturing September 4, 2018 340 340,375
Ocwen Financial Corporation
Term Loan, 5.50%, Maturing February 15, 2018 537 528,309
Sesac Holdco II, LLC
Term Loan, 5.25%, Maturing February 8, 2019 477 477,295
Starwood Property Trust, Inc.
Term Loan, 3.50%, Maturing April 17, 2020 121 120,081
Walker & Dunlop, Inc.
Term Loan, 5.25%, Maturing December 11, 2020 312 312,555
Walter Investment Management Corp.
Term Loan, 4.75%, Maturing December 19, 2020 2,058 1,660,918
$ 10,078,781
Food Products — 4.4%
AdvancePierre Foods, Inc.
Term Loan, 4.75%, Maturing June 2, 2023 1,350 $ 1,350,337
Blue Buffalo Company Ltd.
Term Loan, 3.75%, Maturing August 8, 2019 626 628,423
Charger OpCo B.V.
Term Loan, 4.25%, Maturing July 2, 2022 EUR 157 175,509
Clearwater Seafoods Limited Partnership
Term Loan, 4.75%, Maturing June 26, 2019 426 427,640
Del Monte Foods, Inc.
Term Loan, 4.25%, Maturing February 18, 2021 337 316,312
Term Loan - Second Lien, 8.25%, Maturing August 18, 2021 763 549,000
Dole Food Company, Inc.
Term Loan, 4.50%, Maturing November 1, 2018 1,119 1,117,025
High Liner Foods Incorporated
Term Loan, 4.25%, Maturing April 24, 2021 380 377,664
JBS USA, LLC
Term Loan, 3.75%, Maturing May 25, 2018 864 865,291
Term Loan, 3.75%, Maturing September 18, 2020 754 755,572
Term Loan, 4.00%, Maturing October 30, 2022 323 323,072
Maple Holdings Acquisition Corp.
Term Loan, 5.25%, Maturing March 3, 2023 497 498,346
Borrower/Tranche Description Value
Food Products (continued)
Meldrew Participations B.V.
Term Loan, 8.50%, (5.00% Cash, 3.50% PIK), Maturing October 31, 2019 EUR 343 $ 246,632
Term Loan, 4.50%, (0.00% Cash, 4.50% PIK), Maturing December 19, 2022 (4) EUR 219 17,824
NBTY, Inc.
Term Loan, 5.00%, Maturing May 5, 2023 1,800 1,792,688
Term Loan, 6.25%, Maturing May 5, 2023 GBP 500 663,129
Oak Tea, Inc.
Term Loan, 4.25%, Maturing July 2, 2022 882 884,302
Post Holdings, Inc.
Term Loan, 3.75%, Maturing June 2, 2021 130 130,367
$ 11,119,133
Food Service — 3.1%
1011778 B.C. Unlimited Liability Company
Term Loan, 3.75%, Maturing December 10, 2021 2,296 $ 2,295,156
Centerplate, Inc.
Term Loan, 4.75%, Maturing November 26, 2019 246 239,297
Landry’s, Inc.
Term Loan, 4.00%, Maturing April 24, 2018 1,008 1,009,087
Manitowoc Foodservice, Inc.
Term Loan, 5.75%, Maturing March 3, 2023 784 790,915
NPC International, Inc.
Term Loan, 4.75%, Maturing December 28, 2018 334 333,691
P.F. Chang’s China Bistro, Inc.
Term Loan, 4.25%, Maturing July 2, 2019 188 179,893
Seminole Hard Rock Entertainment, Inc.
Term Loan, 3.50%, Maturing May 14, 2020 121 120,896
Weight Watchers International, Inc.
Term Loan, 4.00%, Maturing April 2, 2020 3,084 2,313,023
Yum! Brands, Inc.
Term Loan, Maturing June 16, 2023 (2) 475 476,633
$ 7,758,591
Food / Drug
Retailers — 2.5%
Albertsons, LLC
Term Loan, 4.50%, Maturing August 25, 2021 633 $ 633,352
Term Loan, 4.75%, Maturing June 22, 2023 2,300 2,300,429
Rite Aid Corporation
Term Loan - Second Lien, 5.75%, Maturing August 21, 2020 725 727,115
Term Loan - Second Lien, 4.88%, Maturing June 21, 2021 750 751,875

11 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Food / Drug Retailers (continued)
Supervalu, Inc.
Term Loan, 5.50%, Maturing March 21, 2019 1,934 $ 1,931,262
$ 6,344,033
Health Care — 14.7%
Acadia Healthcare Company, Inc.
Term Loan, 3.75%, Maturing February 11, 2022 123 $ 120,970
ADMI Corp.
Term Loan, 5.25%, Maturing April 30, 2022 248 248,869
Akorn, Inc.
Term Loan, 5.25%, Maturing April 16, 2021 438 440,599
Albany Molecular Research, Inc.
Term Loan, 5.75%, Maturing July 16, 2021 722 716,054
Alere, Inc.
Term Loan, 4.25%, Maturing June 18, 2022 784 781,642
Alliance Healthcare Services, Inc.
Term Loan, 4.25%, Maturing June 3, 2019 599 571,671
Amneal Pharmaceuticals, LLC
Term Loan, 4.50%, Maturing November 1, 2019 1,005 1,003,597
AmSurg Corp.
Term Loan, 3.50%, Maturing July 16, 2021 294 294,000
Auris Luxembourg III S.a.r.l.
Term Loan, 4.25%, Maturing January 15, 2022 370 369,165
CareCore National, LLC
Term Loan, 5.50%, Maturing March 5, 2021 1,681 1,558,750
CeramTec Acquisition Corporation
Term Loan, 4.25%, Maturing August 30, 2020 15 15,371
CHG Healthcare Services, Inc.
Term Loan, Maturing June 7, 2023 (2) 950 950,594
Community Health Systems, Inc.
Term Loan, 3.75%, Maturing December 31, 2019 1,218 1,187,195
Term Loan, 4.00%, Maturing January 27, 2021 1,743 1,701,190
Concentra, Inc.
Term Loan, 4.00%, Maturing June 1, 2022 149 147,943
CPI Buyer, LLC
Term Loan, 5.50%, Maturing August 18, 2021 484 474,129
DaVita HealthCare Partners, Inc.
Term Loan, 3.50%, Maturing June 24, 2021 1,544 1,548,484
DJO Finance, LLC
Term Loan, 4.25%, Maturing June 8, 2020 1,042 995,229
Envision Healthcare Corporation
Term Loan, 4.25%, Maturing May 25, 2018 1,529 1,531,326
Faenza Acquisition GmbH
Term Loan, 4.25%, Maturing August 30, 2020 43 43,229
Term Loan, 4.25%, Maturing August 30, 2020 142 141,650
Borrower/Tranche Description Value
Health Care (continued)
Global Healthcare Exchange, LLC
Term Loan, 5.25%, Maturing August 15, 2022 521 $ 522,046
Greatbatch Ltd.
Term Loan, 5.25%, Maturing October 27, 2022 449 446,491
Iasis Healthcare, LLC
Term Loan, 4.50%, Maturing May 3, 2018 806 805,056
Indivior Finance S.a.r.l.
Term Loan, 7.00%, Maturing December 19, 2019 463 460,188
inVentiv Health, Inc.
Term Loan, 7.75%, Maturing May 15, 2018 304 303,699
Term Loan, 7.75%, Maturing May 15, 2018 2,243 2,249,541
Jaguar Holding Company II
Term Loan, 4.25%, Maturing August 18, 2022 2,828 2,809,075
Kindred Healthcare, Inc.
Term Loan, 4.25%, Maturing April 9, 2021 711 692,739
Kinetic Concepts, Inc.
Term Loan, 5.00%, Maturing November 4, 2020 2,418 2,411,673
Knowledge Universe Education, LLC
Term Loan, 6.00%, Maturing August 13, 2022 546 541,781
MPH Acquisition Holdings, LLC
Term Loan, 5.00%, Maturing June 7, 2023 1,175 1,179,826
National Mentor Holdings, Inc.
Term Loan, 4.25%, Maturing January 31, 2021 269 267,468
National Surgical Hospitals, Inc.
Term Loan, 4.50%, Maturing June 1, 2022 499 497,182
New Millennium Holdco, Inc.
Term Loan, 7.50%, Maturing December 21, 2020 1,197 878,583
Onex Carestream Finance L.P.
Term Loan, 5.00%, Maturing June 7, 2019 1,728 1,662,902
Opal Acquisition, Inc.
Term Loan, 5.00%, Maturing November 27, 2020 1,088 954,548
Ortho-Clinical Diagnostics, Inc.
Term Loan, 4.75%, Maturing June 30, 2021 1,672 1,583,295
PRA Holdings, Inc.
Term Loan, 4.50%, Maturing September 23, 2020 484 484,856
RadNet Management, Inc.
Term Loan, 4.27%, Maturing October 10, 2018 929 928,872
Term Loan, Maturing June 30, 2023 (2) 675 668,250
Select Medical Corporation
Term Loan, 6.00%, Maturing June 1, 2018 643 645,349
Sterigenics-Nordion Holdings, LLC
Term Loan, 4.25%, Maturing May 15, 2022 347 343,901
Steward Health Care System, LLC
Term Loan, 6.75%, Maturing April 12, 2020 170 168,053

12 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Health Care (continued)
Tecomet, Inc.
Term Loan, 5.75%, Maturing December 5, 2021 566 $ 540,888
$ 36,887,919
Home Furnishings — 0.3%
Serta Simmons Holdings, LLC
Term Loan, 4.25%, Maturing October 1, 2019 753 $ 753,609
$ 753,609
Industrial Equipment — 4.5%
Apex Tool Group, LLC
Term Loan, 4.50%, Maturing January 31, 2020 1,158 $ 1,142,865
Blount International, Inc.
Term Loan, 7.25%, Maturing April 12, 2023 650 654,062
Delachaux S.A.
Term Loan, 4.50%, Maturing October 28, 2021 202 197,303
Doosan Infracore International, Inc.
Term Loan, 4.50%, Maturing May 28, 2021 446 442,579
Filtration Group Corporation
Term Loan - Second Lien, 8.25%, Maturing November 21, 2021 79 77,448
Gardner Denver, Inc.
Term Loan, 4.25%, Maturing July 30, 2020 1,587 1,461,702
Term Loan, 4.75%, Maturing July 30, 2020 EUR 195 202,395
Husky Injection Molding Systems Ltd.
Term Loan, 4.25%, Maturing June 30, 2021 1,344 1,335,829
Term Loan - Second Lien, 7.25%, Maturing June 30, 2022 207 200,439
Milacron, LLC
Term Loan, 4.25%, Maturing September 28, 2020 561 562,636
Paladin Brands Holding, Inc.
Term Loan, 7.25%, Maturing August 16, 2019 519 449,162
Paternoster Holding IV GmbH
Term Loan, 6.63%, Maturing February 10, 2022 EUR 450 483,469
Rexnord, LLC
Term Loan, 4.00%, Maturing August 21, 2020 2,102 2,086,500
Signode Industrial Group US, Inc.
Term Loan, 3.75%, Maturing May 1, 2021 438 435,957
STS Operating, Inc.
Term Loan, 4.75%, Maturing February 12, 2021 143 128,674
Tank Holding Corp.
Term Loan, 5.25%, Maturing March 16, 2022 371 346,594
Terex Corporation
Term Loan, 3.50%, Maturing August 13, 2021 EUR 761 843,949
Borrower/Tranche Description Value
Industrial Equipment (continued)
VAT Lux III S.a.r.l.
Term Loan, 4.25%, Maturing February 11, 2021 153 $ 152,826
$ 11,204,389
Insurance — 4.7%
Alliant Holdings I, Inc.
Term Loan, 4.50%, Maturing August 12, 2022 916 $ 905,830
AmWINS Group, LLC
Term Loan, 4.75%, Maturing September 6, 2019 2,367 2,369,233
AssuredPartners, Inc.
Term Loan, 5.75%, Maturing October 21, 2022 448 446,322
Term Loan - Second Lien, 10.00%, Maturing October 20, 2023 350 345,844
Asurion, LLC
Term Loan, 5.00%, Maturing May 24, 2019 912 909,971
Term Loan, 5.00%, Maturing August 4, 2022 2,520 2,489,829
Term Loan - Second Lien, 8.50%, Maturing March 3, 2021 1,100 1,064,250
Cunningham Lindsey U.S., Inc.
Term Loan, 5.00%, Maturing December 10, 2019 826 660,760
Hub International Limited
Term Loan, 4.00%, Maturing October 2, 2020 1,362 1,343,218
USI, Inc.
Term Loan, 4.25%, Maturing December 27, 2019 1,184 1,174,287
$ 11,709,544
Leisure
Goods / Activities / Movies — 6.0%
AMC Entertainment, Inc.
Term Loan, 4.00%, Maturing December 15, 2022 1,045 $ 1,046,817
Ancestry.com, Inc.
Term Loan, 5.00%, Maturing August 17, 2022 744 743,910
Bombardier Recreational Products, Inc.
Term Loan, Maturing June 30, 2023 (2) 2,125 2,103,750
Bright Horizons Family Solutions, Inc.
Term Loan, 3.75%, Maturing January 30, 2020 434 434,861
CDS U.S. Intermediate Holdings, Inc.
Term Loan, 5.00%, Maturing July 8, 2022 199 194,034
ClubCorp Club Operations, Inc.
Term Loan, 4.25%, Maturing December 15, 2022 925 926,542
Emerald Expositions Holding, Inc.
Term Loan, 4.75%, Maturing June 17, 2020 431 429,744
Lindblad Expeditions, Inc.
Term Loan, 5.50%, Maturing May 8, 2021 102 101,999
Term Loan, 5.50%, Maturing May 8, 2021 790 790,493

13 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Leisure
Goods / Activities / Movies (continued)
Live Nation Entertainment, Inc.
Term Loan, 3.50%, Maturing August 16, 2020 1,251 $ 1,251,289
LTF Merger Sub, Inc.
Term Loan, 4.25%, Maturing June 10, 2022 668 655,094
Match Group, Inc.
Term Loan, 5.50%, Maturing November 16, 2022 268 270,806
Nord Anglia Education Finance, LLC
Term Loan, 5.00%, Maturing March 31, 2021 810 804,922
Sabre, Inc.
Term Loan, 4.00%, Maturing February 19, 2019 579 579,844
SeaWorld Parks & Entertainment, Inc.
Term Loan, 3.00%, Maturing May 14, 2020 1,334 1,286,912
Sonifi Solutions, Inc.
Term Loan, 6.75%, Maturing March 28,
2018 (3) 440 175,820
SRAM, LLC
Term Loan, 4.01%, Maturing April 10, 2020 816 727,094
Steinway Musical Instruments, Inc.
Term Loan, 4.75%, Maturing September 19, 2019 996 966,113
WMG Acquisition Corp.
Term Loan, 3.75%, Maturing July 1, 2020 267 265,056
Zuffa, LLC
Term Loan, 3.75%, Maturing February 25, 2020 1,399 1,396,431
$ 15,151,531
Lodging and Casinos — 5.2%
Affinity Gaming, LLC
Term Loan, 6.50%, Maturing November 9, 2017 193 $ 193,380
Amaya Holdings B.V.
Term Loan, 5.00%, Maturing August 1, 2021 1,648 1,602,213
Term Loan - Second Lien, 8.00%, Maturing August 1, 2022 998 991,781
Boyd Gaming Corporation
Term Loan, 4.00%, Maturing August 14, 2020 202 201,934
Caesars Entertainment Operating Company
Term Loan, 0.00%, Maturing March 1,
2017 (5) 597 598,231
CityCenter Holdings, LLC
Term Loan, 4.25%, Maturing October 16, 2020 310 310,987
Four Seasons Holdings, Inc.
Term Loan - Second Lien, 7.75%, Maturing December 27, 2020 1,800 1,809,000
Gala Group Finance PLC
Term Loan, 5.01%, Maturing May 27, 2018 GBP 825 1,093,590
Golden Nugget, Inc.
Term Loan, 5.50%, Maturing November 21, 2019 62 61,917
Term Loan, 5.50%, Maturing November 21, 2019 144 144,473
Borrower/Tranche Description Value
Lodging and Casinos (continued)
Hilton Worldwide Finance, LLC
Term Loan, 3.50%, Maturing October 26, 2020 2,140 $ 2,144,309
La Quinta Intermediate Holdings, LLC
Term Loan, 3.75%, Maturing April 14, 2021 475 464,672
MGM Growth Properties Operating Partnership L.P.
Term Loan, 4.00%, Maturing April 25, 2023 923 925,715
Playa Resorts Holding B.V.
Term Loan, 4.00%, Maturing August 9, 2019 243 241,681
Scientific Games International, Inc.
Term Loan, 6.00%, Maturing October 18, 2020 1,779 1,760,284
Term Loan, 6.00%, Maturing October 1, 2021 419 413,327
Tropicana Entertainment, Inc.
Term Loan, 4.00%, Maturing November 27, 2020 170 169,762
$ 13,127,256
Nonferrous
Metals / Minerals — 2.8%
Alpha Natural Resources, LLC
DIP Loan, 10.00%, Maturing February 6, 2017 125 $ 123,125
Term Loan, 3.50%, Maturing May 22, 2020 890 467,105
Arch Coal, Inc.
DIP Loan, 5.00%, Maturing January 31,
2017 (6) 325 323,375
Term Loan, 7.50%, Maturing May 16, 2018 1,424 671,117
Dynacast International, LLC
Term Loan, 4.50%, Maturing January 28, 2022 321 322,053
Fairmount Santrol, Inc.
Term Loan, 4.50%, Maturing September 5, 2019 1,220 996,805
Global Brass & Copper, Inc.
Term Loan, Maturing June 15, 2023 (2) 400 396,000
Murray Energy Corporation
Term Loan, 7.00%, Maturing April 16, 2017 148 126,993
Term Loan, 7.50%, Maturing April 16, 2020 915 670,921
Noranda Aluminum Acquisition Corporation
Term Loan, 5.75%, Maturing February 28, 2019 1,005 518,993
Novelis, Inc.
Term Loan, 4.00%, Maturing June 2, 2022 1,287 1,277,830
Oxbow Carbon, LLC
Term Loan, 4.25%, Maturing July 19, 2019 149 148,020
Term Loan - Second Lien, 8.00%, Maturing January 17, 2020 1,025 976,312
United Central Industrial Supply Company, LLC
Term Loan - Second Lien, 15.00%, (0.00% Cash, 15.00% PIK), Maturing April 9, 2019 (3) 256 83,939
$ 7,102,588

14 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Oil and Gas — 4.5%
Ameriforge Group, Inc.
Term Loan, 5.00%, Maturing December 19, 2019 1,381 $ 811,500
Bronco Midstream Funding, LLC
Term Loan, 5.00%, Maturing August 15, 2020 913 823,633
CITGO Holding, Inc.
Term Loan, 9.50%, Maturing May 12, 2018 396 399,639
CITGO Petroleum Corporation
Term Loan, 4.50%, Maturing July 29, 2021 467 461,146
Crestwood Holdings, LLC
Term Loan, 9.00%, Maturing June 19, 2019 661 587,552
Drillships Ocean Ventures, Inc.
Term Loan, 5.50%, Maturing July 25, 2021 709 427,339
Energy Transfer Equity L.P.
Term Loan, 4.00%, Maturing December 2, 2019 186 181,468
Fieldwood Energy, LLC
Term Loan, 8.00%, Maturing September 28, 2018 275 230,312
Term Loan, 3.88%, Maturing October 1, 2018 513 446,103
Term Loan, 8.38%, Maturing September 30, 2020 363 194,447
Term Loan - Second Lien, 8.38%, Maturing September 30, 2020 487 138,362
Floatel International, Ltd.
Term Loan, 6.00%, Maturing June 27, 2020 581 362,887
MEG Energy Corp.
Term Loan, 3.75%, Maturing March 31, 2020 3,634 3,204,783
Paragon Offshore Finance Company
Term Loan, 5.25%, Maturing July 18, 2021 420 119,611
Samson Investment Company
Term Loan - Second Lien, 0.00%, Maturing September 25,
2018 (5) 925 53,766
Seadrill Partners Finco, LLC
Term Loan, 4.00%, Maturing February 21, 2021 2,173 975,296
Sheridan Investment Partners II L.P.
Term Loan, 4.25%, Maturing December 16, 2020 17 10,788
Term Loan, 4.25%, Maturing December 16, 2020 46 28,925
Term Loan, 4.25%, Maturing December 16, 2020 327 207,937
Sheridan Production Partners I, LLC
Term Loan, 4.25%, Maturing October 1, 2019 103 58,844
Term Loan, 4.25%, Maturing October 1, 2019 169 96,338
Term Loan, 4.25%, Maturing October 1, 2019 1,276 727,037
Southcross Holdings Borrower L.P.
Term Loan, 9.00%, (3.50% Cash, 5.50% PIK), Maturing April 13, 2023 26 23,099
Tervita Corporation
Term Loan, 6.25%, Maturing May 15, 2018 747 715,795
$ 11,286,607
Borrower/Tranche Description Value
Publishing — 2.8%
682534 N.B., Inc.
Term Loan, 12.00%, (8.00% Cash, 4.00% PIK), Maturing October 1, 2020 (3) 165 $ 132,372
Ascend Learning, LLC
Term Loan, 5.50%, Maturing July 31, 2019 857 857,696
Getty Images, Inc.
Term Loan, 4.75%, Maturing October 18, 2019 2,852 2,140,500
Laureate Education, Inc.
Term Loan, 5.00%, Maturing June 15, 2018 2,086 2,013,118
Merrill Communications, LLC
Term Loan, 6.25%, Maturing June 1, 2022 298 269,264
Penton Media, Inc.
Term Loan, 4.75%, Maturing October 3, 2019 298 297,334
ProQuest, LLC
Term Loan, 5.75%, Maturing October 24, 2021 815 790,630
Springer Science+Business Media Deutschland GmbH
Term Loan, 4.50%, Maturing August 14, 2020 683 658,939
$ 7,159,853
Radio and Television — 3.3%
ALM Media Holdings, Inc.
Term Loan, 5.50%, Maturing July 31, 2020 215 $ 204,054
AP NMT Acquisition B.V.
Term Loan, 6.75%, Maturing August 13, 2021 1,012 835,111
Block Communications, Inc.
Term Loan, 4.00%, Maturing November 7, 2021 223 222,978
Cumulus Media Holdings, Inc.
Term Loan, 4.25%, Maturing December 23, 2020 2,045 1,443,701
Entercom Radio, LLC
Term Loan, 4.00%, Maturing November 23, 2018 169 168,709
Gray Television, Inc.
Term Loan, 3.94%, Maturing June 13, 2021 134 133,712
Hubbard Radio, LLC
Term Loan, 4.25%, Maturing May 27, 2022 308 302,031
iHeartCommunications, Inc.
Term Loan, 7.21%, Maturing January 30, 2019 1,066 783,715
Term Loan, 7.96%, Maturing July 30, 2019 182 133,976
MGOC, Inc.
Term Loan, 4.00%, Maturing July 31, 2020 656 656,298
Mission Broadcasting, Inc.
Term Loan, 3.75%, Maturing October 1, 2020 319 319,167
Nexstar Broadcasting, Inc.
Term Loan, 3.75%, Maturing October 1, 2020 361 361,940

15 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Value
Radio and Television (continued)
Raycom TV Broadcasting, LLC
Term Loan, 3.75%, Maturing August 4, 2021 429 $ 423,500
Sinclair Television Group, Inc.
Term Loan, 3.00%, Maturing April 9, 2020 266 264,813
Univision Communications, Inc.
Term Loan, 4.00%, Maturing March 1, 2020 2,092 2,081,434
$ 8,335,139
Retailers (Except Food and
Drug) — 7.7%
B&M Retail Limited
Term Loan, 3.26%, Maturing May 21, 2019 GBP 175 $ 227,533
Term Loan, 3.76%, Maturing April 28, 2020 GBP 150 195,694
Bass Pro Group, LLC
Term Loan, 4.00%, Maturing June 5, 2020 1,143 1,128,273
CDW, LLC
Term Loan, 3.25%, Maturing April 29, 2020 2,661 2,662,920
Coinamatic Canada, Inc.
Term Loan, 4.25%, Maturing May 14, 2022 22 21,594
David’s Bridal, Inc.
Term Loan, 5.25%, Maturing October 11, 2019 808 731,817
Dollar Tree, Inc.
Term Loan, 3.50%, Maturing July 6, 2022 979 979,833
Evergreen Acqco 1 L.P.
Term Loan, 5.00%, Maturing July 9, 2019 586 515,176
Harbor Freight Tools USA, Inc.
Term Loan, 4.75%, Maturing July 26, 2019 476 477,435
J. Crew Group, Inc.
Term Loan, 4.00%, Maturing March 5, 2021 1,446 993,865
Jo-Ann Stores, Inc.
Term Loan, 4.00%, Maturing March 16, 2018 1,282 1,266,381
Men’s Wearhouse, Inc. (The)
Term Loan, 4.50%, Maturing June 18, 2021 697 670,160
Michaels Stores, Inc.
Term Loan, 3.75%, Maturing January 28, 2020 1,237 1,234,947
Term Loan, 4.00%, Maturing January 28, 2020 403 403,308
Neiman Marcus Group, Inc. (The)
Term Loan, 4.25%, Maturing October 25, 2020 1,075 967,930
Party City Holdings, Inc.
Term Loan, 4.25%, Maturing August 19, 2022 1,315 1,306,771
PetSmart, Inc.
Term Loan, 4.25%, Maturing March 11, 2022 2,327 2,320,816
PFS Holding Corporation
Term Loan, 4.50%, Maturing January 31, 2021 760 699,547
Borrower/Tranche Description Value
Retailers (Except Food and Drug) (continued)
Pier 1 Imports (U.S.), Inc.
Term Loan, 4.50%, Maturing April 30, 2021 245 $ 224,175
Spin Holdco, Inc.
Term Loan, 4.25%, Maturing November 14, 2019 1,265 1,247,009
Toys ‘R’ Us Property Company I, LLC
Term Loan, 6.00%, Maturing August 21, 2019 816 744,088
Vivarte SA
Term Loan, 11.00%, (4.00% Cash, 7.00% PIK), Maturing October 29, 2019 (7) EUR 155 156,666
Term Loan, 5.00%, (1.25% Cash, 3.75% PIK), Maturing October 29, 2020 (8) EUR 171 63,941
Wilton Brands, LLC
Term Loan, 8.50%, Maturing August 30, 2018 229 188,773
$ 19,428,652
Steel — 1.2%
FMG Resources (August 2006) Pty. Ltd.
Term Loan, 4.25%, Maturing June 30, 2019 2,646 $ 2,538,435
Neenah Foundry Company
Term Loan, 6.75%, Maturing April 26, 2017 176 174,633
Zekelman Industries, Inc.
Term Loan, 6.00%, Maturing June 14, 2021 300 299,568
$ 3,012,636
Surface Transport — 0.5%
Hertz Corporation (The)
Term Loan, 3.50%, Maturing June 30, 2023 500 $ 500,859
Kenan Advantage Group, Inc.
Term Loan, 1.50%, Maturing January 31,
2017 (6) 23 22,734
Term Loan, 4.00%, Maturing July 31, 2022 55 55,166
Term Loan, 4.00%, Maturing July 31, 2022 170 169,471
Stena International S.a.r.l.
Term Loan, 4.00%, Maturing March 3, 2021 733 613,076
$ 1,361,306
Telecommunications — 3.7%
Intelsat Jackson Holdings S.A.
Term Loan, 3.75%, Maturing June 30, 2019 3,700 $ 3,362,375
IPC Corp.
Term Loan, 5.50%, Maturing August 6, 2021 1,062 971,330
Mitel US Holdings, Inc.
Term Loan, 5.50%, Maturing April 29, 2022 343 343,412
Syniverse Holdings, Inc.
Term Loan, 4.00%, Maturing April 23, 2019 891 672,748
Term Loan, 4.00%, Maturing April 23, 2019 983 742,186

16 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Borrower/Tranche Description Principal Amount* (000’s omitted) Value
Telecommunications (continued)
Telesat Canada
Term Loan, 3.50%, Maturing March 28, 2019 3,313 $ 3,300,418
$ 9,392,469
Utilities — 3.6%
Calpine Construction Finance Company L.P.
Term Loan, 3.00%, Maturing May 3, 2020 509 $ 500,126
Term Loan, 3.25%, Maturing January 31, 2022 194 190,781
Calpine Corporation
Term Loan, 3.50%, Maturing May 27, 2022 1,535 1,520,114
Dynegy Holdings, Inc.
Term Loan, 4.00%, Maturing April 23, 2020 463 453,748
Electrical Components International, Inc.
Term Loan, 5.75%, Maturing May 28, 2021 739 738,787
Energy Future Intermediate Holding Co., LLC
DIP Loan, 4.25%, Maturing December 19, 2016 850 849,735
EWT Holdings III Corp.
Term Loan, 4.75%, Maturing January 15, 2021 195 194,512
Term Loan, 5.50%, Maturing January 15, 2021 274 273,627
Term Loan - Second Lien, 8.50%, Maturing January 15, 2022 900 877,500
Granite Acquisition, Inc.
Term Loan, 5.00%, Maturing December 19, 2021 54 51,631
Term Loan, 5.00%, Maturing December 19, 2021 1,203 1,155,830
Invenergy Thermal Operating I, LLC
Term Loan, 6.50%, Maturing October 19, 2022 99 93,543
Lonestar Generation, LLC
Term Loan, 5.25%, Maturing February 22, 2021 566 436,117
Longview Power, LLC
Term Loan, 7.00%, Maturing April 13, 2021 1,361 1,197,900
TPF II Power, LLC
Term Loan, 5.52%, Maturing October 2, 2021 643 642,801
$ 9,176,752
Total Senior Floating-Rate Loans (identified cost $357,137,303) $ 338,822,031
Corporate Bonds & Notes — 9.6%
Security Principal Amount* (000’s omitted) Value
Aerospace and Defense — 0.1%
Aerojet Rocketdyne Holdings, Inc.
7.125%, 3/15/21 30 $ 31,657
Security Value
Aerospace and Defense (continued)
CBC Ammo, LLC/CBC FinCo, Inc.
7.25%, 11/15/21 (9) 30 $ 25,500
Huntington Ingalls Industries, Inc.
5.00%, 11/15/25 (9) 5 5,294
Orbital ATK, Inc.
5.25%, 10/1/21 20 20,976
TransDigm, Inc.
7.50%, 7/15/21 10 10,575
6.00%, 7/15/22 30 30,305
6.50%, 7/15/24 30 30,300
$ 154,607
Automotive — 0.0% (10)
American Axle & Manufacturing, Inc.
5.125%, 2/15/19 10 $ 10,185
General Motors Financial Co., Inc.
4.75%, 8/15/17 40 41,285
3.25%, 5/15/18 5 5,106
$ 56,576
Beverage and Tobacco — 0.0% (10)
Constellation Brands, Inc.
6.00%, 5/1/22 35 $ 39,550
4.25%, 5/1/23 40 41,800
$ 81,350
Brokerage / Securities Dealers / Investment
Houses — 0.0% (10)
Alliance Data Systems Corp.
6.375%, 4/1/20 (9) 30 $ 30,338
$ 30,338
Building and Development — 0.1%
Builders FirstSource, Inc.
7.625%, 6/1/21 (9) 6 $ 6,300
10.75%, 8/15/23 (9) 8 8,740
Greystar Real Estate Partners, LLC
8.25%, 12/1/22 (9) 20 20,700
HD Supply, Inc.
7.50%, 7/15/20 45 47,245
5.25%, 12/15/21 (9) 15 15,783
Hillman Group, Inc. (The)
6.375%, 7/15/22 (9) 30 26,850

17 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Building and Development (continued)
Nortek, Inc.
8.50%, 4/15/21 20 $ 20,755
Reliance Intermediate Holdings, L.P.
6.50%, 4/1/23 (9) 50 52,250
Standard Industries, Inc.
5.375%, 11/15/24 (9) 25 25,563
6.00%, 10/15/25 (9) 30 31,500
TRI Pointe Group, Inc./TRI Pointe Homes, Inc.
4.375%, 6/15/19 20 20,200
5.875%, 6/15/24 25 25,531
USG Corp.
5.875%, 11/1/21 (9) 20 21,025
5.50%, 3/1/25 (9) 5 5,256
$ 327,698
Business Equipment and
Services — 0.2%
Acosta, Inc.
7.75%, 10/1/22 (9) 45 $ 39,712
FTI Consulting, Inc.
6.00%, 11/15/22 20 21,085
IMS Health, Inc.
6.00%, 11/1/20 (9) 40 40,800
National CineMedia, LLC
6.00%, 4/15/22 380 395,200
ServiceMaster Co., LLC (The)
7.45%, 8/15/27 20 20,650
United Rentals North America, Inc.
7.625%, 4/15/22 15 16,088
6.125%, 6/15/23 5 5,231
$ 538,766
Cable and Satellite
Television — 0.6%
Cable One, Inc.
5.75%, 6/15/22 (9) 5 $ 5,138
CCO Holdings, LLC/CCO Holdings Capital Corp.
5.25%, 9/30/22 80 82,300
5.75%, 1/15/24 5 5,274
5.375%, 5/1/25 (9) 40 40,700
5.75%, 2/15/26 (9) 20 20,650
CSC Holdings, LLC
8.625%, 2/15/19 5 5,512
5.25%, 6/1/24 5 4,550
DISH DBS Corp.
6.75%, 6/1/21 75 77,906
Security Value
Cable and Satellite Television (continued)
DISH DBS Corp. (continued)
5.875%, 7/15/22 15 $ 14,625
5.875%, 11/15/24 10 9,375
IAC/InterActiveCorp
4.875%, 11/30/18 17 17,425
Virgin Media Secured Finance PLC
5.375%, 4/15/21 (9) 428 439,791
6.00%, 4/15/21 (9) GBP 428 588,317
5.50%, 1/15/25 (9) 275 270,875
$ 1,582,438
Chemicals and Plastics — 0.8%
Hexion, Inc.
6.625%, 4/15/20 2,225 $ 1,871,892
Platform Specialty Products Corp.
10.375%, 5/1/21 (9) 5 5,050
6.50%, 2/1/22 (9) 25 22,125
Scotts Miracle-Gro Co. (The)
6.00%, 10/15/23 (9) 5 5,288
Tronox Finance, LLC
6.375%, 8/15/20 50 37,375
7.50%, 3/15/22 (9) 10 7,250
W.R. Grace & Co.
5.125%, 10/1/21 (9) 15 15,450
5.625%, 10/1/24 (9) 5 5,144
$ 1,969,574
Commercial Services — 0.0% (10)
CEB, Inc.
5.625%, 6/15/23 (9) 10 $ 9,763
ExamWorks Group, Inc.
5.625%, 4/15/23 20 22,200
$ 31,963
Conglomerates — 0.1%
Belden, Inc.
5.50%, 9/1/22 (9) 10 $ 10,125
Spectrum Brands, Inc.
6.375%, 11/15/20 25 26,156
6.625%, 11/15/22 20 21,325
5.75%, 7/15/25 30 31,388
TMS International Corp.
7.625%, 10/15/21 (9) 25 17,625
$ 106,619

18 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Consumer Products — 0.0% (10)
Central Garden & Pet Co.
6.125%, 11/15/23 25 $ 26,125
HRG Group, Inc.
7.875%, 7/15/19 55 57,819
$ 83,944
Containers and Glass Products — 1.0%
Berry Plastics Corp.
6.00%, 10/15/22 10 $ 10,388
Beverage Packaging Holdings Luxembourg II SA/Beverage Packaging Holdings II Issuer, Inc.
5.625%, 12/15/16 (9) 5 5,013
Owens-Brockway Glass Container, Inc.
5.875%, 8/15/23 (9) 15 15,784
6.375%, 8/15/25 (9) 5 5,234
Reynolds Group Holdings, Inc.
5.75%, 10/15/20 1,975 2,044,954
4.127%, 7/15/21 (9)(11) 450 452,250
$ 2,533,623
Distribution & Wholesale — 0.0% (10)
American Tire Distributors, Inc.
10.25%, 3/1/22 (9) 30 $ 26,475
$ 26,475
Diversified Financial Services — 0.0% (10)
Argos Merger Sub, Inc.
7.125%, 3/15/23 (9) 45 $ 46,406
Quicken Loans, Inc.
5.75%, 5/1/25 (9) 15 14,550
$ 60,956
Drugs — 0.1%
Mallinckrodt International Finance S.A./Mallinckrodt CB, LLC
4.875%, 4/15/20 (9) 15 $ 14,550
5.625%, 10/15/23 (9) 40 37,450
5.50%, 4/15/25 (9) 15 13,457
Valeant Pharmaceuticals International, Inc.
6.375%, 10/15/20 (9) 90 77,850
7.50%, 7/15/21 (9) 25 22,172
5.625%, 12/1/21 (9) 10 8,300
Security Value
Drugs (continued)
Valeant Pharmaceuticals International, Inc. (continued)
5.875%, 5/15/23 (9) 35 $ 28,437
6.125%, 4/15/25 (9) 30 24,150
$ 226,366
Ecological Services and Equipment — 0.0% (10)
Advanced Disposal Services, Inc.
8.25%, 10/1/20 25 $ 25,500
Clean Harbors, Inc.
5.25%, 8/1/20 25 25,656
5.125%, 6/1/21 30 30,844
Covanta Holding Corp.
5.875%, 3/1/24 10 9,750
$ 91,750
Electric Utilities — 0.0% (10)
NRG Yield Operating, LLC
5.375%, 8/15/24 10 $ 10,000
$ 10,000
Electronics / Electrical — 0.4%
Anixter, Inc.
5.50%, 3/1/23 20 $ 20,425
CommScope, Inc.
4.375%, 6/15/20 (9) 10 10,325
Freescale Semiconductor, Inc.
6.00%, 1/15/22 (9) 20 21,140
Infor (US), Inc.
5.75%, 8/15/20 (9) 10 10,525
6.50%, 5/15/22 25 23,735
Informatica, LLC
7.125%, 7/15/23 (9) 5 4,763
Nuance Communications, Inc.
5.375%, 8/15/20 (9) 20 20,450
SS&C Technologies Holdings, Inc.
5.875%, 7/15/23 25 25,562
Western Digital Corp.
7.375%, 4/1/23 (9) 675 720,562
Zebra Technologies Corp.
7.25%, 10/15/22 45 47,925
$ 905,412

19 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Equipment Leasing — 0.2%
International Lease Finance Corp.
6.75%, 9/1/16 (9) 175 $ 175,943
7.125%, 9/1/18 (9) 175 192,577
$ 368,520
Financial Intermediaries — 0.3%
CIT Group, Inc.
5.50%, 2/15/19 (9) 25 $ 26,219
5.375%, 5/15/20 5 5,225
First Data Corp.
6.75%, 11/1/20 (9) 406 425,078
7.00%, 12/1/23 (9) 65 66,219
5.00%, 1/15/24 (9) 10 10,063
Icahn Enterprises, L.P./Icahn Enterprises Finance Corp.
3.50%, 3/15/17 20 20,136
6.00%, 8/1/20 25 24,750
JPMorgan Chase & Co.
6.75% to 2/1/24, 1/29/49 (12) 35 38,587
Navient Corp.
5.50%, 1/15/19 45 45,371
5.00%, 10/26/20 10 9,400
5.875%, 10/25/24 15 12,900
Solera, LLC/Solera Finance, Inc.
10.50%, 3/1/24 (9) 10 10,544
$ 694,492
Food Products — 0.4%
Dean Foods Co.
6.50%, 3/15/23 (9) 20 $ 20,700
Iceland Bondco PLC
4.838%, 7/15/20 (9)(11) GBP 750 888,609
Post Holdings, Inc.
6.75%, 12/1/21 (9) 10 10,600
6.00%, 12/15/22 (9) 15 15,431
7.75%, 3/15/24 (9) 15 16,519
8.00%, 7/15/25 (9) 5 5,569
WhiteWave Foods Co. (The)
5.375%, 10/1/22 10 10,750
$ 968,178
Security Value
Food Service — 0.0% (10)
1011778 B.C. Unlimited Liability Company/New Red Finance, Inc.
4.625%, 1/15/22 (9) 25 $ 25,437
6.00%, 4/1/22 (9) 50 51,984
Yum! Brands, Inc.
5.30%, 9/15/19 5 5,319
3.75%, 11/1/21 10 9,838
$ 92,578
Food / Drug Retailers — 0.0% (10)
Rite Aid Corp.
6.125%, 4/1/23 (9) 50 $ 53,683
$ 53,683
Health Care — 1.3%
Alere, Inc.
7.25%, 7/1/18 5 $ 5,134
6.50%, 6/15/20 15 15,000
6.375%, 7/1/23 (9) 30 31,425
AmSurg Corp.
5.625%, 11/30/20 30 31,125
5.625%, 7/15/22 20 20,625
Capsugel SA
7.00%, 5/15/19 (9)(13) 8 8,020
Centene Corp.
4.75%, 5/15/22 10 10,250
CHS/Community Health Systems, Inc.
5.125%, 8/15/18 1,115 1,135,906
7.125%, 7/15/20 65 60,586
6.875%, 2/1/22 35 30,800
DJO Finco, Inc./DJO Finance, LLC/DJO Finance Corp.
8.125%, 6/15/21 (9) 20 17,400
HCA Holdings, Inc.
6.25%, 2/15/21 40 43,000
HCA, Inc.
6.50%, 2/15/20 10 11,113
5.875%, 2/15/26 10 10,400
Hill-Rom Holdings, Inc.
5.75%, 9/1/23 (9) 10 10,275
Hologic, Inc.
5.25%, 7/15/22 (9) 30 31,462
inVentiv Health, Inc.
9.00%, 1/15/18 (9) 625 645,312

20 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Health Care (continued)
Jaguar Holding Co. II/Pharmaceutical Product Development, LLC
6.375%, 8/1/23 (9) 60 $ 61,500
Kinetic Concepts, Inc./KCI USA, Inc.
10.50%, 11/1/18 25 25,063
Opal Acquisition, Inc.
8.875%, 12/15/21 (9) 25 19,313
RegionalCare Hospital Partners Holdings, Inc.
8.25%, 5/1/23 (9) 625 642,187
Surgical Care Affiliates, Inc.
6.00%, 4/1/23 (9) 15 15,375
Teleflex, Inc.
5.25%, 6/15/24 10 10,150
Tenet Healthcare Corp.
6.00%, 10/1/20 20 21,200
4.375%, 10/1/21 300 300,000
8.125%, 4/1/22 45 46,341
6.75%, 6/15/23 10 9,613
WellCare Health Plans, Inc.
5.75%, 11/15/20 45 46,631
$ 3,315,206
Home Furnishings — 0.0% (10)
Tempur Sealy International, Inc.
5.625%, 10/15/23 15 $ 15,525
$ 15,525
Industrial Equipment — 0.0% (10)
BlueLine Rental Finance Corp.
7.00%, 2/1/19 (9) 25 $ 21,625
Erickson Air-Crane, Inc., Promissory Note
6.00%, 11/2/20 (3)(14) 26 9,199
Vander Intermediate Holding II Corp.
9.75%, 2/1/19 (9)(13) 20 9,987
$ 40,811
Insurance — 0.0% (10)
Hub Holdings, LLC/Hub Holdings Finance, Inc.
8.125%, 7/15/19 (9)(13) 20 $ 19,300
Hub International, Ltd.
7.875%, 10/1/21 (9) 25 24,063
USI, Inc.
7.75%, 1/15/21 (9) 40 39,750
Security Value
Insurance (continued)
Wayne Merger Sub, LLC
8.25%, 8/1/23 (9) 20 $ 19,800
$ 102,913
Internet Software & Services — 0.0% (10)
Netflix, Inc.
5.50%, 2/15/22 35 $ 36,662
5.875%, 2/15/25 45 47,419
Riverbed Technology, Inc.
8.875%, 3/1/23 (9) 15 15,600
$ 99,681
Leisure
Goods / Activities / Movies — 0.1%
Activision Blizzard, Inc.
6.125%, 9/15/23 (9) 15 $ 16,388
NCL Corp., Ltd.
5.25%, 11/15/19 (9) 10 10,150
4.625%, 11/15/20 (9) 20 20,062
Regal Entertainment Group
5.75%, 3/15/22 15 15,450
Royal Caribbean Cruises, Ltd.
7.25%, 3/15/18 20 21,700
Sabre GLBL, Inc.
5.375%, 4/15/23 (9) 10 10,275
5.25%, 11/15/23 (9) 20 20,450
Viking Cruises, Ltd.
8.50%, 10/15/22 (9) 50 42,875
6.25%, 5/15/25 (9) 20 15,200
$ 172,550
Lodging and Casinos — 0.8%
Buffalo Thunder Development Authority
11.00%, 12/9/22 (9) 124 $ 58,724
Caesars Entertainment Operating Co., Inc.
8.50%, 2/15/20 (5) 1,075 994,375
9.00%, 2/15/20 (5) 825 765,187
GLP Capital, L.P./GLP Financing II, Inc.
4.875%, 11/1/20 35 36,701
Hilton Worldwide Finance, LLC/Hilton Worldwide Finance Corp.
5.625%, 10/15/21 45 46,607
MGM Resorts International
6.625%, 12/15/21 40 43,700
7.75%, 3/15/22 15 17,006
6.00%, 3/15/23 25 26,437

21 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Lodging and Casinos (continued)
RHP Hotel Properties, L.P./RHP Finance Corp.
5.00%, 4/15/23 15 $ 14,963
Station Casinos, LLC
7.50%, 3/1/21 20 21,179
Tunica-Biloxi Gaming Authority
9.00%, 11/15/15 (5)(9) 165 59,400
$ 2,084,279
Nonferrous
Metals / Minerals — 0.1%
Eldorado Gold Corp.
6.125%, 12/15/20 (9) 55 $ 55,275
IAMGOLD Corp.
6.75%, 10/1/20 (9) 35 31,500
Imperial Metals Corp.
7.00%, 3/15/19 (9) 10 9,025
Kissner Milling Co., Ltd.
7.25%, 6/1/19 (9) 45 45,225
New Gold, Inc.
6.25%, 11/15/22 (9) 35 34,300
SunCoke Energy Partners, L.P./SunCoke Energy Partners Finance Corp.
7.375%, 2/1/20 20 16,900
$ 192,225
Oil and Gas — 0.6%
Antero Resources Corp.
6.00%, 12/1/20 5 $ 5,079
5.375%, 11/1/21 40 39,400
5.625%, 6/1/23 15 14,625
Blue Racer Midstream, LLC/Blue Racer Finance Corp.
6.125%, 11/15/22 (9) 10 9,525
Bonanza Creek Energy, Inc.
6.75%, 4/15/21 25 10,263
Canbriam Energy, Inc.
9.75%, 11/15/19 (9) 10 10,150
CITGO Petroleum Corp.
6.25%, 8/15/22 (9) 325 312,812
Concho Resources, Inc.
5.50%, 4/1/23 105 105,787
CrownRock, L.P./CrownRock Finance, Inc.
7.125%, 4/15/21 (9) 35 36,050
7.75%, 2/15/23 (9) 30 31,500
CVR Refining, LLC/Coffeyville Finance, Inc.
6.50%, 11/1/22 65 56,225
Security Value
Oil and Gas (continued)
Denbury Resources, Inc.
5.50%, 5/1/22 5 $ 3,400
Endeavor Energy Resources, L.P./EER Finance, Inc.
7.00%, 8/15/21 (9) 40 39,500
8.125%, 9/15/23 (9) 10 10,250
Energy Transfer Equity L.P.
5.875%, 1/15/24 35 34,213
EP Energy, LLC/Everest Acquisition Finance, Inc.
7.75%, 9/1/22 35 21,525
Gulfport Energy Corp.
7.75%, 11/1/20 65 67,112
6.625%, 5/1/23 30 29,700
Matador Resources Co.
6.875%, 4/15/23 20 20,500
Memorial Resource Development Corp.
5.875%, 7/1/22 60 60,000
Newfield Exploration Co.
5.625%, 7/1/24 65 65,325
Noble Energy, Inc.
5.625%, 5/1/21 13 13,558
Paramount Resources, Ltd.
6.875%, 6/30/23 (9) 15 11,850
PBF Holding Co., LLC/PBF Finance Corp.
8.25%, 2/15/20 8 8,340
PBF Logistics, L.P./PBF Logistics Finance Corp.
6.875%, 5/15/23 20 19,700
RSP Permian, Inc.
6.625%, 10/1/22 40 41,400
Sabine Pass Liquefaction, LLC
5.625%, 3/1/25 95 95,000
Sabine Pass LNG, L.P.
6.50%, 11/1/20 55 57,509
Seven Generations Energy, Ltd.
8.25%, 5/15/20 (9) 65 67,681
6.75%, 5/1/23 (9) 25 25,313
Seventy Seven Energy, Inc.
6.50%, 7/15/22 (5) 10 650
SM Energy Co.
6.125%, 11/15/22 10 9,238
6.50%, 1/1/23 45 42,075
Sunoco, L.P./Sunoco Finance Corp.
6.375%, 4/1/23 (9) 20 19,950
Tesoro Corp.
5.375%, 10/1/22 50 51,187

22 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Oil and Gas (continued)
Tesoro Logistics, L.P./Tesoro Logistics Finance Corp.
5.50%, 10/15/19 5 $ 5,250
6.25%, 10/15/22 15 15,713
Triangle USA Petroleum Corp.
6.75%, 7/15/22 (5)(9) 15 3,525
Williams Partners, L.P./ACMP Finance Corp.
4.875%, 3/15/24 5 4,805
$ 1,475,685
Publishing — 0.1%
Laureate Education, Inc.
9.25%, 9/1/19 (9) 285 $ 250,800
MHGE Parent, LLC/MHGE Parent Finance, Inc.
8.50%, 8/1/19 (9)(13) 10 10,150
Tribune Media Co.
5.875%, 7/15/22 30 30,000
$ 290,950
Radio and Television — 0.4%
Clear Channel Worldwide Holdings, Inc.
Series A, 6.50%, 11/15/22 25 $ 24,187
Series B, 6.50%, 11/15/22 50 50,250
iHeartCommunications, Inc.
9.00%, 12/15/19 451 344,451
11.25%, 3/1/21 20 14,400
Nielsen Co. Luxembourg S.a.r.l. (The)
5.50%, 10/1/21 (9) 15 15,544
Sirius XM Radio, Inc.
5.875%, 10/1/20 (9) 10 10,388
6.00%, 7/15/24 (9) 40 41,450
Starz, LLC/Starz Finance Corp.
5.00%, 9/15/19 35 35,744
Univision Communications, Inc.
6.75%, 9/15/22 (9) 384 407,040
5.125%, 5/15/23 (9) 15 14,962
$ 958,416
Real Estate Investment Trusts (REITs) — 0.0% (10)
Communications Sales & Leasing, Inc./CSL Capital LLC
8.25%, 10/15/23 5 $ 5,088
ESH Hospitality, Inc.
5.25%, 5/1/25 (9) 15 14,681
$ 19,769
Security Value
Retailers (Except Food and
Drug) — 0.4%
Chinos Intermediate Holdings A, Inc.
7.75%, 5/1/19 (9)(13) 26 $ 8,655
Dollar Tree, Inc.
5.25%, 3/1/20 (9) 20 20,700
5.75%, 3/1/23 (9) 50 53,375
Fresh Market, Inc. (The)
9.75%, 5/1/23 (9) 575 541,578
Hot Topic, Inc.
9.25%, 6/15/21 (9) 60 61,050
L Brands, Inc.
6.875%, 11/1/35 30 30,525
Michaels Stores, Inc.
5.875%, 12/15/20 (9) 20 20,900
Murphy Oil USA, Inc.
6.00%, 8/15/23 60 62,400
Party City Holdings, Inc.
6.125%, 8/15/23 (9) 25 26,000
Radio Systems Corp.
8.375%, 11/1/19 (9) 30 31,275
Sally Holdings, LLC/Sally Capital, Inc.
5.75%, 6/1/22 30 31,237
Vista Outdoor, Inc.
5.875%, 10/1/23 (9) 20 20,950
$ 908,645
Road & Rail — 0.0% (10)
Watco Cos., LLC/Watco Finance Corp.
6.375%, 4/1/23 (9) 20 $ 19,900
$ 19,900
Software and Services — 0.0% (10)
IHS, Inc.
5.00%, 11/1/22 25 $ 25,937
Infor Software Parent, LLC/Infor Software Parent, Inc.
7.125%, 5/1/21 (9)(13) 25 22,375
SunGard Availability Services Capital, Inc.
8.75%, 4/1/22 (9) 25 13,813
$ 62,125
Steel — 0.0% (10)
ArcelorMittal
7.25%, 2/25/22 10 $ 10,575
$ 10,575

23 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Value
Surface Transport — 0.1%
Hertz Corp. (The)
6.25%, 10/15/22 20 $ 20,700
XPO Logistics, Inc.
7.875%, 9/1/19 (9) 85 86,912
6.50%, 6/15/22 (9) 30 28,763
$ 136,375
Technology — 0.0% (10)
Micron Technology, Inc.
5.25%, 8/1/23 (9) 10 $ 8,575
5.625%, 1/15/26 (9) 10 8,375
$ 16,950
Telecommunications — 0.7%
Avaya, Inc.
9.00%, 4/1/19 (9) 20 $ 15,000
CenturyLink, Inc.
6.75%, 12/1/23 15 14,794
CommScope Technologies Finance, LLC
6.00%, 6/15/25 (9) 30 30,900
Frontier Communications Corp.
6.25%, 9/15/21 15 14,216
10.50%, 9/15/22 10 10,619
7.625%, 4/15/24 10 8,900
6.875%, 1/15/25 20 16,863
11.00%, 9/15/25 25 26,062
Intelsat Jackson Holdings S.A.
7.25%, 10/15/20 45 32,287
6.625%, 12/15/22 15 10,200
Intelsat Luxembourg S.A.
7.75%, 6/1/21 35 8,750
8.125%, 6/1/23 40 10,100
Level 3 Financing, Inc.
5.375%, 1/15/24 10 10,088
SBA Telecommunications, Inc.
5.75%, 7/15/20 80 82,600
Sprint Communications, Inc.
7.00%, 8/15/20 345 310,069
6.00%, 11/15/22 5 3,960
Sprint Corp.
7.25%, 9/15/21 25 21,437
7.875%, 9/15/23 105 86,362
7.625%, 2/15/25 20 15,925
Security Value
Telecommunications (continued)
T-Mobile USA, Inc.
6.25%, 4/1/21 15 $ 15,703
6.633%, 4/28/21 20 20,975
6.731%, 4/28/22 5 5,277
6.625%, 4/1/23 20 21,217
6.375%, 3/1/25 15 15,731
6.50%, 1/15/26 45 47,644
Wind Acquisition Finance SA
4.999%, 4/30/19 (9)(11) EUR 250 277,854
6.50%, 4/30/20 (9) 225 232,312
3.751%, 7/15/20 (9)(11) EUR 225 243,451
Windstream Services, LLC
7.75%, 10/1/21 15 14,213
$ 1,623,509
Utilities — 0.7%
AES Corp. (The)
5.50%, 3/15/24 10 $ 10,287
Air Medical Merger Sub Corp.
6.375%, 5/15/23 (9) 25 23,875
Calpine Corp.
5.375%, 1/15/23 20 19,600
7.875%, 1/15/23 (9) 980 1,038,800
5.75%, 1/15/25 5 4,881
5.25%, 6/1/26 (9) 500 500,000
Dynegy, Inc.
6.75%, 11/1/19 30 30,225
7.375%, 11/1/22 25 24,250
7.625%, 11/1/24 25 24,094
$ 1,676,012
Total Corporate Bonds & Notes (identified cost $25,509,619) $ 24,218,007
Asset-Backed Securities — 7.0%
Security Principal Amount (000’s omitted) Value
ALM Loan Funding, Ltd.
Series 2015-16A, Class D,
5.978%, 7/15/27 (9)(11) $ 500 $ 420,525
Apidos CLO XVII
Series 2014-17A, Class B,
3.483%, 4/17/26 (9)(11) 200 195,690
Series 2014-17A, Class C,
3.933%, 4/17/26 (9)(11) 500 458,310
Series 2014-17A, Class D,
5.383%, 4/17/26 (9)(11) 500 401,049

24 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Principal Amount (000’s omitted) Value
Apidos CLO XIX
Series 2014-19A, Class E,
6.083%, 10/17/26 (9)(11) $ 1,000 $ 843,765
Apidos CLO XXI
Series 2015-21A, Class D,
6.183%, 7/18/27 (9)(11) 500 413,836
Ares CLO, Ltd.
Series 2014-32A, Class D,
6.326%, 11/15/25 (9)(11) 1,000 847,390
Series 2015-2A, Class E2,
5.838%, 7/29/26 (9)(11) 500 411,768
Babson CLO, Ltd.
Series 2013-IA, Class C,
3.334%, 4/20/25 (9)(11) 225 220,983
Series 2013-IA, Class D,
4.134%, 4/20/25 (9)(11) 175 164,061
Birchwood Park CLO, Ltd.
Series 2014-1A, Class E1,
5.728%, 7/15/26 (9)(11) 300 230,058
Carlyle Global Market Strategies CLO, Ltd.
Series 2014-4A, Class E,
5.828%, 10/15/26 (9)(11) 1,000 833,714
Series 2015-5A, Class D,
6.592%, 1/20/28 (9)(11) 500 435,358
Centurion CDO IX Ltd.
Series 2005-9A, Class D1,
5.383%, 7/17/19 (9)(11) 500 486,860
CIFC Funding, Ltd.
Series 2013-2A, Class A3L,
3.283%, 4/21/25 (9)(11) 1,325 1,235,592
Cumberland Park CLO, Ltd.
Series 2015-2A, Class E,
5.634%, 7/20/26 (9)(11) 1,000 801,346
Dryden XXVIII Senior Loan Fund
Series 2013-28A, Class A3L,
3.326%, 8/15/25 (9)(11) 750 734,773
Series 2013-28A, Class B1L,
3.826%, 8/15/25 (9)(11) 320 289,102
Series 2013-28A, Class B2L,
4.526%, 8/15/25 (9)(11) 215 155,734
Dryden XL Senior Loan Fund
Series 2015-40A, Class E,
6.576%, 8/15/28 (9)(11) 500 431,418
Galaxy CLO, Ltd.
Series 2015-21A, Class E1,
6.17%, 1/20/28 (9)(11) 500 422,213
Golub Capital Partners CLO, Ltd.
Series 2015-23A, Class E,
6.383%, 5/5/27 (9)(11) 1,000 823,352
Oak Hill Credit Partners, Ltd.
Series 2013-8A, Class C,
3.334%, 4/20/25 (9)(11) 200 195,010
Series 2013-8A, Class D,
4.134%, 4/20/25 (9)(11) 200 184,881
Series 2015-11A, Class E,
7.334%, 10/20/28 (9)(11) 500 455,874
Octagon Investment Partners XVI Ltd.
Series 2013-1A, Class C1,
3.383%, 7/17/25 (9)(11) 475 452,340
Series 2013-1A, Class D,
3.983%, 7/17/25 (9)(11) 475 419,498
Series 2013-1A, Class E,
5.133%, 7/17/25 (9)(11) 550 399,160
Octagon Investment Partners XXIII, Ltd.
Series 2015-1A, Class E2,
7.128%, 7/15/27 (9)(11) 1,000 897,892
Palmer Square CLO, Ltd.
Series 2015-2A, Class D,
6.084%, 7/20/27 (9)(11) 600 503,492
Recette CLO, LLC
Series 2015-1A, Class E,
6.334%, 10/20/27 (9)(11) 500 424,057
Schiller Park CLO, Ltd.
Series 2007-1A, Class D,
2.888%, 4/25/21 (9)(11) 1,000 946,391
Security Principal Amount (000’s omitted) Value
Westcott Park CLO, Ltd.
Series 2016-1A, Class E,
7.857%, 7/20/28 (9)(11) $ 800 $ 760,051
Ziggurat CLO, Ltd.
Series 2014-1A, Class E,
5.633%, 10/17/26 (9)(11) 1,000 717,271
Total Asset-Backed Securities (identified cost $19,254,725) $ 17,612,814
Common Stocks — 1.3%
Security Shares Value
Aerospace and Defense — 0.1%
IAP Global Services, LLC (3)(14)(15) 29 $ 332,601
$ 332,601
Automotive — 0.1%
Dayco Products, LLC (14)(15) 10,159 $ 340,326
$ 340,326
Business Equipment and
Services — 0.1%
Education Management Corp. (3)(14)(15) 1,612,262 $ 0
RCS Capital Corp. (3)(14)(15) 27,470 206,027
$ 206,027
Health Care — 0.1%
New Millennium Holdco, Inc. (14)(15) 35,156 $ 120,849
$ 120,849
Lodging and Casinos — 0.3%
Affinity Gaming, LLC (14)(15) 23,498 $ 328,976
Tropicana Entertainment, Inc. (14)(15) 25,430 495,883
$ 824,859
Nonferrous
Metals / Minerals — 0.0%
ASP United/GHX Holding, LLC (3)(14)(15) 352 $ 0
$ 0
Oil and Gas — 0.0% (10)
Southcross Holdings Group, LLC (3)(14)(15) 30 $ 0
Southcross Holdings L.P., Class A (14)(15) 30 12,000
$ 12,000

25 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

Security Shares Value
Publishing — 0.6%
ION Media Networks, Inc. (3)(14)(15) 2,155 $ 1,222,941
MediaNews Group, Inc. (3)(14)(15) 5,771 190,680
Nelson Education, Ltd. (3)(14)(15) 27,293 0
$ 1,413,621
Total Common Stocks (identified cost $1,365,758) $ 3,250,283
Convertible Preferred
Stocks — 0.0% (10)
Security Shares Value
Business Equipment and Services — 0.0% (10)
Education Management Corp., Series A-1,
7.50% (3)(14)(15) 1,793 $ 15,886
Total Convertible Preferred Stocks (identified cost $126,544) $ 15,886
Closed-End Funds — 2.1%
Security Shares Value
BlackRock Floating Rate Income Strategies Fund, Inc. 49,400 $ 649,610
Invesco Senior Income Trust 238,872 998,485
Nuveen Credit Strategies Income Fund 180,539 1,458,755
Nuveen Floating Rate Income Fund 73,198 756,868
Nuveen Floating Rate Income Opportunity Fund 51,054 523,814
Voya Prime Rate Trust 196,084 1,003,950
Total Closed-End Funds (identified cost $6,015,228) $ 5,391,482
Warrants — 0.0%
Security Shares Value
Retailers (Except Food and
Drug) — 0.0%
Vivarte Luxco (3)(14)(15) 104,081 $ 0
Total Warrants (identified cost $38,147) $ 0
Miscellaneous — 0.0% (10) — Security Principal Amount/ Shares Value
Cable and Satellite Television — 0.0% (10)
ACC Claims Holdings, LLC (15) 200,340 $ 1,302
$ 1,302
Lodging and Casinos — 0.0% (10)
Buffalo Thunder Development Authority, Residual Claim Certificates, Expires 11/15/29 (9)(15) $ 54,825 $ 27
$ 27
Oil and Gas — 0.0%
SemGroup Corp., Escrow Certificate (3)(15) 290,000 $ 0
$ 0
Total Miscellaneous (identified cost $0) $ 1,329
Short-Term Investments — 1.1%
Description Interest (000’s omitted) Value
Eaton Vance Cash Reserves Fund, LLC,
0.52% (16) $ 2,688 $ 2,688,151
Total Short-Term Investments (identified cost $2,688,151) $ 2,688,151
Total Investments — 155.7% (identified cost $412,135,475) $ 391,999,983
Less Unfunded Loan Commitments — (0.1)% $ (347,819 )
Net Investments — 155.6% (identified cost $411,787,656) $ 391,652,164
Other Assets, Less Liabilities — (11.9)% $ (29,855,833 )
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (43.7)% $ (110,006,977 )
Net Assets Applicable to Common Shares — 100.0% $ 251,789,354

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

  • In U.S. dollars unless otherwise indicated.

(1) 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

26 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Portfolio of Investments — continued

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.

(2) This Senior Loan will settle after June 30, 2016, at which time the interest rate will be determined.

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

(4) Includes Staunton Luxco S.C.A. ordinary shares and Staunton Topco, Ltd. ordinary shares that trade with the loan.

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

(6) Unfunded or partially unfunded loan commitments. See Note 1G for description.

(7) Includes new money preferred shares that trade with the loan.

(8) Includes Vivarte Class A preferred shares and Luxco ordinary shares that trade with the loan.

(9) 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 June 30, 2016, the aggregate value of these securities is $29,746,513 or 11.8% of the Trust’s net assets applicable to common shares.

(10) Amount is less than 0.05%.

(11) Variable rate security. The stated interest rate represents the rate in effect at June 30, 2016.

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

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

(14) Security was acquired in connection with a restructuring of a Senior Loan and may be subject to restrictions on resale.

(15) Non-income producing security.

(16) 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 June 30, 2016.

Forward Foreign Currency Exchange Contracts — Currency Purchased Currency Sold Counterparty Settlement Date Unrealized Appreciation Unrealized (Depreciation)
USD 2,703,580 EUR 2,385,628 Goldman Sachs International 7/29/16 $ 53,820 $ —
USD 754,661 CAD 980,335 State Street Bank and Trust Company 8/31/16 — (4,254 )
USD 1,907,371 EUR 1,700,095 State Street Bank and Trust Company 8/31/16 16,891 —
USD 2,808,788 GBP 1,915,444 JPMorgan Chase Bank, N.A. 8/31/16 257,573 —
USD 3,858,373 EUR 3,476,475 HSBC Bank USA, N.A. 9/30/16 — (11,994 )
USD 2,801,295 GBP 2,098,820 Goldman Sachs International 9/30/16 4,855 —
$ 333,139 $ (16,248 )

Abbreviations:

DIP – Debtor in Possession
PIK – Payment In Kind

Currency Abbreviations:

CAD – Canadian Dollar
EUR – Euro
GBP – British Pound Sterling
USD – United States Dollar

27 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Statement of Assets and Liabilities

Assets June 30, 2016
Unaffiliated investments, at value (identified cost, $409,099,505) $ 388,964,013
Affiliated investment, at value (identified cost, $2,688,151) 2,688,151
Cash 7,293,540
Restricted cash* 290,000
Foreign currency, at value (identified cost, $74,781) 74,705
Interest and dividends receivable 1,646,737
Interest receivable from affiliated investment 1,950
Receivable for investments sold 475,552
Receivable for open forward foreign currency exchange contracts 333,139
Prepaid upfront fees on notes payable 45,668
Prepaid expenses 12,345
Total assets $ 401,825,800
Liabilities
Notes payable $ 25,000,000
Cash collateral due to broker 280,000
Payable for investments purchased 14,122,942
Payable for open forward foreign currency exchange contracts 16,248
Payable to affiliates:
Investment adviser fee 248,290
Administration fee 79,580
Trustees’ fees 5,443
Accrued expenses 276,966
Total liabilities $ 40,029,469
Auction preferred shares (4,400 shares outstanding) at liquidation value plus cumulative unpaid
dividends $ 110,006,977
Net assets applicable to common shares $ 251,789,354
Sources of Net Assets
Common shares, $0.01 par value, unlimited number of shares authorized, 37,866,607 shares issued and outstanding $ 378,666
Additional paid-in capital 325,224,641
Accumulated net realized loss (54,205,392 )
Accumulated undistributed net investment income 249,832
Net unrealized depreciation (19,858,393 )
Net assets applicable to common shares $ 251,789,354
Net Asset Value Per Common Share
($251,789,354 ÷ 37,866,607 common shares issued and outstanding) $ 6.65
  • Represents restricted cash on deposit at the custodian for open forward foreign currency exchange contracts.

28 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Statement of Operations

Investment Income Year Ended June 30, 2016
Interest and other income $ 21,205,807
Dividends 377,102
Interest allocated from affiliated investment 14,372
Expenses allocated from affiliated investment (614 )
Total investment income $ 21,596,667
Expenses
Investment adviser fee $ 3,209,892
Administration fee 1,017,845
Trustees’ fees and expenses 23,155
Custodian fee 199,865
Transfer and dividend disbursing agent fees 18,139
Legal and accounting services 191,842
Printing and postage 53,558
Interest expense and fees 690,652
Preferred shares service fee 115,548
Miscellaneous 90,827
Total expenses $ 5,611,323
Deduct —
Reduction of custodian fee $ 2
Total expense reductions $ 2
Net expenses $ 5,611,321
Net investment income $ 15,985,346
Realized and Unrealized Gain (Loss)
Net realized gain (loss) —
Investment transactions $ (6,717,222 )
Investment transactions allocated from affiliated investment 21
Foreign currency and forward foreign currency exchange contract transactions 752,241
Net realized loss $ (5,964,960 )
Change in unrealized appreciation (depreciation) —
Investments $ (8,774,514 )
Foreign currency and forward foreign currency exchange contracts 467,564
Net change in unrealized appreciation (depreciation) $ (8,306,950 )
Net realized and unrealized loss $ (14,271,910 )
Distributions to preferred shareholders
From net investment income $ (331,972 )
Net increase in net assets from operations $ 1,381,464

29 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Statements of Changes in Net Assets

Increase (Decrease) in Net Assets Year Ended June 30, — 2016 2015
From operations —
Net investment income $ 15,985,346 $ 15,172,786
Net realized gain (loss) from investment, foreign currency and forward foreign currency exchange contract transactions (5,964,960 ) 717,100
Net change in unrealized appreciation (depreciation) from investments, foreign currency and forward foreign currency exchange
contracts (8,306,950 ) (12,590,560 )
Distributions to preferred shareholders —
From net investment income (331,972 ) (112,997 )
Net increase in net assets from operations $ 1,381,464 $ 3,186,329
Distributions to common shareholders —
From net investment income $ (15,601,042 ) $ (15,222,376 )
Total distributions to common shareholders $ (15,601,042 ) $ (15,222,376 )
Net decrease in net assets $ (14,219,578 ) $ (12,036,047 )
Net Assets Applicable to Common Shares
At beginning of year $ 266,008,932 $ 278,044,979
At end of year $ 251,789,354 $ 266,008,932
Accumulated undistributed net investment income included in net assets applicable to common shares
At end of year $ 249,832 $ —

30 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Statement of Cash Flows

Cash Flows From Operating Activities Year Ended June 30, 2016
Net increase in net assets from operations $ 1,381,464
Distributions to preferred shareholders 331,972
Net increase in net assets from operations excluding distributions to preferred shareholders $ 1,713,436
Adjustments to reconcile net increase in net assets from operations to net cash provided by operating activities:
Investments purchased (123,731,034 )
Investments sold and principal repayments 151,842,388
Decrease in short-term investments, net 8,183,042
Net amortization/accretion of premium (discount) (605,355 )
Amortization of prepaid upfront fees on notes payable 69,086
Increase in interest and dividends receivable (33,585 )
Increase in interest receivable from affiliated investment (743 )
Increase in receivable for open forward foreign currency exchange contracts (314,814 )
Decrease in prepaid expenses 3,242
Increase in cash collateral due to broker 280,000
Decrease in payable for open forward foreign currency exchange contracts (161,973 )
Decrease in payable to affiliate for investment adviser fee (36,316 )
Decrease in payable to affiliate for administration fee (10,485 )
Decrease in payable to affiliate for Trustees’ fees (10 )
Increase in accrued expenses 60,415
Increase in unfunded loan commitments 347,819
Net change in unrealized (appreciation) depreciation from investments 8,774,514
Net realized (gain) loss from investments 6,717,222
Net cash provided by operating activities $ 53,096,849
Cash Flows From Financing Activities
Distributions paid to common shareholders, net of reinvestments $ (15,601,042 )
Cash distributions paid to preferred shareholders (326,832 )
Proceeds from notes payable 14,000,000
Repayments of notes payable (49,000,000 )
Payment of prepaid upfront fees on notes payable (65,000 )
Net cash used in financing activities $ (50,992,874 )
Net increase in cash* $ 2,103,975
Cash at beginning of year (1) $ 5,264,270
Cash at end of year (1) $ 7,368,245
Supplemental disclosure of cash flow information:
Cash paid for interest and fees on borrowings $ 699,255
  • Includes net change in unrealized appreciation (depreciation) on foreign currency of $(10).

(1) Balance includes foreign currency, at value.

31 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Financial Highlights

Selected data for a common share outstanding during the periods stated

Year Ended June 30, — 2016 2015 2014 2013 2012
Net asset value — Beginning of year (Common shares) $ 7.020 $ 7.340 $ 7.350 $ 7.160 $ 7.240
Income (Loss) From Operations
Net investment income (1) $ 0.422 $ 0.401 $ 0.406 $ 0.468 $ 0.435
Net realized and unrealized gain (loss) (0.371 ) (0.316 ) 0.029 0.194 (0.071 )
Distributions to preferred shareholders —
From net investment
income (1) (0.009 ) (0.003 ) (0.002 ) (0.003 ) (0.003 )
Total income from operations $ 0.042 $ 0.082 $ 0.433 $ 0.659 $ 0.361
Less Distributions to Common Shareholders
From net investment income $ (0.412 ) $ (0.402 ) $ (0.443 ) $ (0.476 ) $ (0.441 )
Total distributions to common shareholders $ (0.412 ) $ (0.402 ) $ (0.443 ) $ (0.476 ) $ (0.441 )
Premium from common shares sold through shelf offering (see Note 6) (1) $ — $ — $ — $ 0.007 $ —
Net asset value — End of year (Common shares) $ 6.650 $ 7.020 $ 7.340 $ 7.350 $ 7.160
Market value — End of year (Common shares) $ 6.010 $ 6.210 $ 6.810 $ 7.520 $ 7.020
Total Investment Return on Net Asset Value (2) 1.57 % 1.71 % 6.34 % 9.49 % 5.58 %
Total Investment Return on Market Value (2) 3.77 % (3.02 )% (3.57 )% 14.26 % 4.09 %

32 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Financial Highlights — continued

Selected data for a common share outstanding during the periods stated

Ratios/Supplemental Data Year Ended June 30, — 2016 2015 2014 2013 2012
Net assets applicable to common shares, end of year (000’s omitted) $ 251,789 $ 266,009 $ 278,045 $ 278,364 $ 263,168
Ratios (as a percentage of average daily net assets applicable to common shares): (3)†
Expenses excluding interest and fees (4) 1.96 % 1.99 % 1.98 % 1.98 % 2.01 %
Interest and fee expense 0.28 % 0.28 % 0.27 % 0.23 % 0.23 %
Total expenses (4) 2.24 % 2.27 % 2.25 % 2.21 % 2.24 %
Net investment income 6.38 % 5.61 % 5.51 % 6.35 % 6.17 %
Portfolio Turnover 31 % 33 % 33 % 52 % 38 %
Senior Securities:
Total notes payable outstanding (in 000’s) $ 25,000 $ 60,000 $ 65,000 $ 65,000 $ 46,000
Asset coverage per $1,000 of notes payable (5) $ 15,472 $ 7,267 $ 6,970 $ 6,975 $ 9,112
Total preferred shares outstanding 4,400 4,400 4,400 4,400 4,400
Asset coverage per preferred share (6) $ 71,629 $ 64,119 $ 64,721 $ 64,766 $ 67,174
Involuntary liquidation preference per preferred
share (7) $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000
Approximate market value per preferred share (7) $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000

(1) Computed using average common shares outstanding.

(2) Returns are historical and are calculated by determining the percentage change in net asset value or market value with all distributions reinvested. Distributions are assumed to be reinvested at prices obtained under the Trust’s dividend reinvestment plan.

(3) Ratios do not reflect the effect of dividend payments to preferred shareholders.

(4) Excludes the effect of custody fee credits, if any, of less than 0.005%.

(5) Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, and dividing the result by the notes payable balance in thousands.

(6) Calculated by subtracting the Trust’s total liabilities (not including the notes payable and preferred shares) from the Trust’s total assets, dividing the result by the sum of the value of the notes payable and liquidation value of the preferred shares, and multiplying the result by the liquidation value of one preferred share. Such amount equates to 287%, 256%, 259%, 259% and 269% at June 30, 2016, 2015, 2014, 2013 and 2012, respectively.

(7) Plus accumulated and unpaid dividends.

† Ratios based on net assets applicable to common shares plus preferred shares and borrowings are presented below. Ratios do not reflect the effect of dividend payments to preferred shareholders and exclude the effect of custody fee credits, if any.

2016 2015 2014 2013 2012
Expenses excluding interest and fees 1.21 % 1.21 % 1.22 % 1.25 % 1.27 %
Interest and fee expense 0.17 % 0.17 % 0.17 % 0.15 % 0.15 %
Total expenses 1.38 % 1.38 % 1.39 % 1.40 % 1.42 %
Net investment income 3.93 % 3.42 % 3.39 % 4.03 % 3.93 %

33 See Notes to Financial Statements.

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements

1 Significant Accounting Policies

Eaton Vance Senior Income Trust (the Trust) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a diversified, closed-end management investment company. The Trust’s investment objective is to provide a high level of current income, consistent with the preservation of capital, by investing primarily in senior, secured floating-rate loans.

The following is a summary of significant accounting policies of the Trust. The policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP). The Trust 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.

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 Trust 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 Trust. 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 Trust. 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.

Debt Obligations. Debt obligations (including short-term obligations with a remaining maturity of more than sixty days) 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 are generally valued at amortized cost, which approximates market value.

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 Trust’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.

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 Trust may invest in Eaton Vance Cash Reserves Fund, LLC (Cash Reserves Fund), an affiliated investment company managed by Eaton Vance Management (EVM). The value of the Trust’s investment in Cash Reserves Fund reflects the Trust’s proportionate interest in its net assets. Cash Reserves Fund generally values its investment securities utilizing the amortized cost valuation technique in accordance with Rule 2a-7 under the 1940 Act. This technique involves initially valuing a portfolio security at its cost and thereafter assuming a constant amortization to maturity of any discount or premium. If amortized cost is determined not to approximate fair value, Cash Reserves Fund may value its investment securities in the same manner as debt obligations described above.

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 Trust in a manner that fairly reflects the security’s value, or the amount that

34

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

the Trust 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 Trust’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 June 30, 2016, the Trust had no uncertain tax positions that would require financial statement recognition, de-recognition, or disclosure. The Trust 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 Expense Reduction — State Street Bank and Trust Company (SSBT) serves as custodian of the Trust. Pursuant to the custodian agreement, SSBT receives a fee that may be reduced by credits, which are determined based on the average daily cash balance the Trust maintains with SSBT. All credit balances, if any, used to reduce the Trust’s custodian fees are reported as a reduction of expenses in the Statement of Operations. Effective September 1, 2015, SSBT began imposing fees on certain uninvested cash balances and discontinued credits on cash deposit balances.

F 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.

G Unfunded Loan Commitments — The Trust may enter into certain loan agreements all or a portion of which may be unfunded. The Trust is obligated to fund these commitments at the borrower’s discretion. These commitments are disclosed in the accompanying Portfolio of Investments. At June 30, 2016, the Trust had sufficient cash and/or securities to cover these commitments.

H 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.

I 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 Trust. 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 Trust shareholders and the By-laws provide that the Trust shall assume the defense on behalf of any Trust shareholders. Moreover, the By-laws also provide for indemnification out of Trust 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 Trust enters into agreements with service providers that may contain indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Trust that have not yet occurred.

J Forward Foreign Currency Exchange Contracts — The Trust 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.

K When-Issued Securities and Delayed Delivery Transactions — The Trust 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 Trust 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

35

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

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.

L Statement of Cash Flows — The cash amount shown in the Statement of Cash Flows of the Trust is the amount included in the Trust’s Statement of Assets and Liabilities and represents the unrestricted cash on hand at its custodian and does not include any short-term investments.

2 Auction Preferred Shares

The Trust issued Auction Preferred Shares (APS) on June 27, 2001 in a public offering. Dividends on the APS, which accrue daily, are cumulative at rates which are reset every seven days by an auction, unless a special dividend period has been set. Series of APS are identical in all respects except for the reset dates of the dividend rates. If the APS auctions do not successfully clear, the dividend payment rate over the next period for the APS holders is set at a specified maximum applicable rate until such time as the APS auctions are successful. Auctions have not cleared since February 13, 2008 and the rate since that date has been the maximum applicable rate (see Note 3). The maximum applicable rate on the APS is 125% of the “AA” Financial Composite Commercial Paper Rate at the date of the auction. The stated spread over the reference benchmark rate is determined based on the credit rating of the APS.

The number of APS issued and outstanding as of June 30, 2016 is as follows:

Series A 2,200
Series B 2,200

The APS are redeemable at the option of the Trust at a redemption price equal to $25,000 per share, plus accumulated and unpaid dividends, on any dividend payment date. The APS are also subject to mandatory redemption at a redemption price equal to $25,000 per share, plus accumulated and unpaid dividends, if the Trust is in default for an extended period on its asset maintenance requirements with respect to the APS. If the dividends on the APS remain unpaid in an amount equal to two full years’ dividends, the holders of the APS as a class have the right to elect a majority of the Board of Trustees. In general, the holders of the APS and the common shares have equal voting rights of one vote per share, except that the holders of the APS, as a separate class, have the right to elect at least two members of the Board of Trustees. The APS have a liquidation preference of $25,000 per share, plus accumulated and unpaid dividends. The Trust is required to maintain certain asset coverage with respect to the APS as defined in the Trust’s By-Laws and the 1940 Act. The Trust pays an annual fee up to 0.15% of the liquidation value of the APS to broker/dealers as a service fee if the auctions are unsuccessful; otherwise, the annual fee is 0.25%.

On June 30, 2016, the Trust announced that its Board of Trustees authorized a tender offer to purchase for cash up to 44% of its outstanding APS at a price per share equal to 95% of the APS liquidation preference of $25,000 per share, plus any unpaid APS dividends accrued through the tender date. The tender offer is conditional upon the Trust increasing its credit facility and the availability of sufficient funds thereunder to finance the purchase of the APS in the tender offer and certain other conditions.

3 Distributions to Shareholders and Income Tax Information

The Trust intends to make monthly distributions of net investment income to common shareholders, after payment of any dividends on any outstanding APS. In addition, at least annually, the Trust intends to distribute all or substantially all of its net realized capital gains (reduced by available capital loss carryforwards from prior years). Distributions to common shareholders are recorded on the ex-dividend date. Distributions to preferred shareholders are recorded daily and are payable at the end of each dividend period. The dividend rates for the APS at June 30, 2016, and the amount of dividends accrued (including capital gains, if any) to APS shareholders, average APS dividend rates, and dividend rate ranges for the year then ended were as follows:

Series A 0.53 % Dividends Accrued to APS Shareholders — $ 163,771 0.30 % 0.10–0.53
Series B 0.50 168,201 0.31 0.08–0.50

Beginning February 13, 2008 and consistent with the patterns in the broader market for auction-rate securities, the Trust’s APS auctions were unsuccessful in clearing due to an imbalance of sell orders over bids to buy the APS. As a result, the dividend rates of the APS were reset to the maximum applicable rates. The table above reflects such maximum dividend rate for each series as of June 30, 2016.

36

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

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.

The tax character of distributions declared for the years ended June 30, 2016 and June 30, 2015 was as follows:

Year Ended June 30, — 2016 2015
Distributions declared from:
Ordinary income $ 15,933,014 $ 15,335,373

During the year ended June 30, 2016, accumulated net realized loss was increased by $662,298, accumulated undistributed net investment income was increased by $197,500 and paid-in capital was increased by $464,798 due to differences between book and tax accounting, primarily for foreign currency gain (loss), tax straddle transactions and investments in partnerships. These reclassifications had no effect on the net assets or net asset value per share of the Trust.

As of June 30, 2016, the components of distributable earnings (accumulated losses) on a tax basis were as follows:

Undistributed ordinary income $
Capital loss carryforwards and deferred capital losses $ (54,119,357 )
Net unrealized depreciation $ (19,944,428 )

The differences between components of distributable earnings (accumulated losses) on a tax basis and the amounts reflected in the Statement of Assets and Liabilities are primarily due to wash sales and investments in partnerships.

At June 30, 2016, the Trust, for federal income tax purposes, had capital loss carryforwards of $45,629,752 and deferred capital losses of $8,489,605, 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 Trust of any liability for federal income or excise tax. Such capital loss carryforwards will expire on June 30, 2017 ($16,051,408), June 30, 2018 ($22,498,410) and June 30, 2019 ($7,079,934) 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 Trust’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 June 30, 2016, $1,268,950 are short-term and $7,220,655 are long-term.

The cost and unrealized appreciation (depreciation) of investments of the Trust at June 30, 2016, as determined on a federal income tax basis, were as follows:

Aggregate cost $
Gross unrealized appreciation $ 3,494,600
Gross unrealized depreciation (23,716,128 )
Net unrealized depreciation $ (20,221,528 )

4 Investment Adviser Fee and Other Transactions with Affiliates

The investment adviser fee is earned by EVM as compensation for management and investment advisory services rendered to the Trust. The fee is computed at an annual rate of 0.78% (0.79% prior to May 1, 2016) of the Trust’s average weekly gross assets and is payable monthly. Gross assets as referred to herein represent net assets plus obligations attributable to investment leverage. Pursuant to a fee reduction agreement between the Trust and EVM that commenced on May 1, 2010, the annual adviser fee rate is reduced by 0.01% every May 1 thereafter for the next twenty-nine years. The fee reduction cannot be terminated without the consent of the Trustees and shareholders. For the year ended June 30, 2016, the Trust’s investment adviser fee totaled $3,209,892. The Trust invests its cash in Cash Reserves Fund. EVM does not currently receive a fee for advisory services provided to Cash

37

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

Reserves Fund. The administration fee is earned by EVM for administering the business affairs of the Trust and is computed at an annual rate of 0.25% of the Trust’s average weekly gross assets. For the year ended June 30, 2016, the administration fee amounted to $1,017,845.

Trustees and officers of the Trust who are members of EVM’s organization receive remuneration for their services to the Trust out of the investment adviser fee. Trustees of the Trust who are not affiliated with EVM 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 year ended June 30, 2016, no significant amounts have been deferred. Certain officers and Trustees of the Trust are officers of EVM.

5 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 $126,524,410 and $151,555,558, respectively, for the year ended June 30, 2016.

6 Common Shares of Beneficial Interest and Shelf Offering

The Trust may issue common shares pursuant to its dividend reinvestment plan. There were no common shares issued by the Trust for the years ended June 30, 2016 and June 30, 2015.

On November 11, 2013, the Board of Trustees of the Trust authorized the repurchase by the Trust of up to 10% of its then currently outstanding common shares in open-market transactions at a discount to net asset value. The repurchase program does not obligate the Trust to purchase a specific amount of shares. There were no repurchases of common shares by the Trust for the years ended June 30, 2016 and June 30, 2015.

Pursuant to a registration statement filed with the SEC, the Trust is authorized to issue up to an additional 4,551,438 common shares through an equity shelf offering program (the “shelf offering”). Under the shelf offering, the Trust, subject to market conditions, may raise additional capital from time to time and in varying amounts and offering methods at a net price at or above the Trust’s net asset value per common share. During the years ended June 30, 2016 and June 30, 2015, there were no shares sold by the Trust pursuant to its shelf offering.

7 Financial Instruments

The Trust 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 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 Trust 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 June 30, 2016 is included in the Portfolio of Investments. At June 30, 2016, the Trust had sufficient cash and/or securities to cover commitments under these contracts.

The Trust is subject to foreign exchange risk in the normal course of pursuing its investment objective. Because the Trust 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 Trust enters into forward foreign currency exchange contracts.

The Trust enters into forward foreign currency exchange contracts that may contain provisions whereby the counterparty may terminate the contract under certain conditions, including but not limited to a decline in the Trust’s net assets below a certain level over a certain period of time, which would trigger a payment by the Trust for those derivatives in a liability position. At June 30, 2016, the fair value of derivatives with credit-related contingent features in a net liability position was $16,248. The aggregate fair value of assets pledged as collateral by the Trust for such liability was $10,000 at June 30, 2016.

The over-the-counter (OTC) derivatives in which the Trust 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 Trust 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 Trust 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 Trust 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 Trust’s net assets decline by a stated percentage or the Trust fails to meet the terms of its ISDA Master Agreements, which would cause the counterparty to accelerate payment by the Trust 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

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Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

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 Trust and/or counterparty is held in segregated accounts by the Trust’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 Trust, a corresponding liability on the Statement of Assets and Liabilities. Securities pledged by the Trust as collateral, if any, are identified as such in the Portfolio of Investments. The carrying amount of the liability for cash collateral due to broker at June 30, 2016 approximated its fair value. If measured at fair value, such liability would have been considered as Level 2 in the fair value hierarchy (see Note 11) at June 30, 2016.

The fair value of open derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) and whose primary underlying risk exposure is foreign exchange risk at June 30, 2016 was as follows:

Derivative Fair Value — Asset Derivative Liability Derivative
Forward foreign currency exchange contracts $ 333,139 (1) $ (16,248 ) (2)

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

(2) Statement of Assets and Liabilities location: Payable for open forward foreign currency exchange contracts; Net unrealized depreciation.

The Trust’s derivative assets and liabilities at fair value by type, which are reported gross in the Statement of Assets and Liabilities, are presented in the table above. The following tables present the Trust’s derivative assets and liabilities by counterparty, net of amounts available for offset under a master netting agreement and net of the related collateral received by the Trust for such assets and pledged by the Trust for such liabilities as of June 30, 2016.

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)
Goldman Sachs International $ 58,675 $ — $ — $ — $ 58,675
JPMorgan Chase Bank, N.A. 257,573 — — (257,573 ) —
State Street Bank and Trust Company 16,891 (4,254 ) — — 12,637
$ 333,139 $ (4,254 ) $ — $ (257,573 ) $ 71,312
Counterparty Derivative Liabilities Subject to Master Netting Agreement Derivatives Available for Offset Non-cash Collateral Pledged (a) Cash Collateral Pledged (a) Net Amount of Derivative Liabilities (c)
HSBC Bank USA, N.A. $ (11,994 ) $ — $ — $ — $ (11,994 )
State Street Bank and Trust Company (4,254 ) 4,254 — — —
$ (16,248 ) $ 4,254 $ — $ — $ (11,994 )

(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.

(c) Net amount represents the net amount payable to the counterparty in the event of default.

39

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

The effect of derivative instruments (not considered to be hedging instruments for accounting disclosure purposes) on the Statement of Operations and whose primary underlying risk exposure is foreign exchange risk for the year ended June 30, 2016 was as follows:

Derivative — Forward foreign currency exchange contracts Realized Gain (Loss) on Derivatives Recognized in Income — $ 883,715 (1) Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income — $ 476,787 (2)

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

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

The average notional amount of forward foreign currency exchange contracts outstanding during the year ended June 30, 2016, which is indicative of the volume of this derivative type, was approximately $17,132,000.

8 Revolving Credit and Security Agreement

The Trust has entered into a Revolving Credit and Security Agreement, as amended (the Agreement) with conduit lenders and a bank that allows it to borrow up to $65 million ($70 million prior to March 15, 2016) and to invest the borrowings in accordance with its investment practices. Borrowings under the Agreement are secured by the assets of the Trust. Interest is charged at a rate above the conduits’ commercial paper issuance rate and is payable monthly. Under the terms of the Agreement, in effect through March 13, 2017, the Trust also pays a program fee of 0.67% per annum on its outstanding borrowings to administer the facility and a liquidity fee of 0.15% (0.25% if the outstanding loan amount is less than or equal to 60% (50% prior to March 15, 2016) of the total facility size) per annum on the borrowing limit under the Agreement. Program and liquidity fees for the year ended June 30, 2016 totaled $439,366 and are included in interest expense and fees on the Statement of Operations. The Trust also paid an upfront fee of $65,000, which is being amortized to interest expense over a period of one year through March 2017. The unamortized balance at June 30, 2016 is approximately $46,000 and is included in prepaid upfront fees on notes payable on the Statement of Assets and Liabilities. The Trust is required to maintain certain net asset levels during the term of the Agreement. At June 30, 2016, the Trust had borrowings outstanding under the Agreement of $25,000,000 at an interest rate of 0.62%. Based on the short-term nature of the borrowings under the Agreement and the variable interest rate, the carrying amount of the borrowings at June 30, 2016 approximated its fair value. If measured at fair value, borrowings under the Agreement would have been considered as Level 2 in the fair value hierarchy (see Note 11) at June 30, 2016. For the year ended June 30, 2016, the average borrowings under the Agreement and the average interest rate (excluding fees) were $46,297,814 and 0.39%, respectively.

9 Risks Associated with Foreign Investments

Investing in securities issued by companies whose principal business activities are outside the United States may involve significant risks not present in domestic investments. For example, there is generally less publicly available information about foreign companies, particularly those not subject to the disclosure and reporting requirements of the U.S. securities laws. Certain foreign issuers are generally not bound by uniform accounting, auditing, and financial reporting requirements and standards of practice comparable to those applicable to domestic issuers. Investments in foreign securities also involve the risk of possible adverse changes in investment or exchange control regulations, expropriation or confiscatory taxation, limitation on the removal of funds or other assets of the Trust, political or financial instability or diplomatic and other developments which could affect such investments. Foreign securities markets, while growing in volume and sophistication, are generally not as developed as those in the United States, and securities of some foreign issuers (particularly those located in developing countries) may be less liquid and more volatile than securities of comparable U.S. companies. In general, there is less overall governmental supervision and regulation of foreign securities markets, broker/dealers and issuers than in the United States.

10 Credit Risk

The Trust invests primarily in below investment grade floating-rate loans, which are considered speculative because of the credit risk of their issuers. Changes in economic conditions or other circumstances are more likely to reduce the capacity of issuers of these securities to make principal and interest payments. Such companies are more likely to default on their payments of interest and principal owed than issuers of investment grade bonds. An economic downturn generally leads to a higher non-payment rate, and a loan or other debt obligation may lose significant value before a default occurs. Lower rated investments also may be subject to greater price volatility than higher rated investments. Moreover, the specific collateral used to secure a loan may decline in value or become illiquid, which would adversely affect the loan’s value.

11 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

40

Eaton Vance

Senior Income Trust

June 30, 2016

Notes to Financial Statements — continued

• 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)

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 June 30, 2016, the hierarchy of inputs used in valuing the Trust’s investments and open derivative instruments, which are carried at value, were as follows:

Asset Description Level 1 Level 2 Level 3* Total
Senior Floating-Rate Loans (Less Unfunded Loan Commitments) $ — $ 337,818,532 $ 655,680 $ 338,474,212
Corporate Bonds & Notes — 24,208,808 9,199 24,218,007
Asset-Backed Securities — 17,612,814 — 17,612,814
Common Stocks 495,883 802,151 1,952,249 3,250,283
Convertible Preferred Stocks — — 15,886 15,886
Closed-End Funds 5,391,482 — — 5,391,482
Warrants — — 0 0
Miscellaneous — 1,329 0 1,329
Short-Term Investments — 2,688,151 — 2,688,151
Total Investments $ 5,887,365 $ 383,131,785 $ 2,633,014 $ 391,652,164
Forward Foreign Currency Exchange Contracts $ — $ 333,139 $ — $ 333,139
Total $ 5,887,365 $ 383,464,924 $ 2,633,014 $ 391,985,303
Liability Description
Forward Foreign Currency Exchange Contracts $ — $ (16,248 ) $ — $ (16,248 )
Total $ — $ (16,248 ) $ — $ (16,248 )
  • None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Trust.

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 year ended June 30, 2016 is not presented.

At June 30, 2016, there were no investments transferred between Level 1 and Level 2 during the year then ended.

12 Legal Proceedings

In May 2015, the Trust was served with an amended complaint filed in an adversary proceeding in the United States Bankruptcy Court for the Southern District of New York. The adversary proceeding was filed by the Motors Liquidation Company Avoidance Action Trust (“AAT”) against the former holders of a $1.5 billion term loan issued by General Motors Corp. (“GM”) in 2006 (the “Term Loan Lenders”) who received a full repayment of the term loan pursuant to a court order in the GM bankruptcy proceeding. The court order was made with the understanding that the term loan was fully secured at the time of GM’s bankruptcy filing in June 2009. The AAT is seeking (1) a determination from the Bankruptcy Court that the security interest held by the Term Loan Lenders was not perfected at the time GM filed for Chapter 11 Bankruptcy protection and thus the Term Loan Lenders should have been treated in the same manner as GM’s unsecured creditors, (2) disgorgement of any interest payments made to the Term Loan Lenders within ninety days of GM’s filing for Chapter 11 Bankruptcy protection, and (3) disgorgement of the $1.5 billion term loan repayment that was made to the Term Loan Lenders. The value of the payment received under the term loan agreement by the Trust is approximately $1,787,000 (equal to 0.71% of net assets applicable to common shares at June 30, 2016). The Trust cannot predict the outcome of these proceedings or the effect, if any, on the Trust’s net asset value. The attorneys’ fees and costs related to these actions are expensed by the Trust as incurred.

41

Eaton Vance

Senior Income Trust

June 30, 2016

Report of Independent Registered Public Accounting Firm

To the Trustees and Shareholders of Eaton Vance Senior Income Trust:

We have audited the accompanying statement of assets and liabilities of Eaton Vance Senior Income Trust (the “Trust”), including the portfolio of investments, as of June 30, 2016, and the related statements of operations and cash flows for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended. These financial statements and financial highlights are the responsibility of the Trust’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. The Trust is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. Our procedures included confirmation of securities and senior loans owned as of June 30, 2016, by correspondence with the custodian, brokers and selling or agent banks; where replies were not received from brokers and selling or agent banks, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, such financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Eaton Vance Senior Income Trust as of June 30, 2016, the results of its operations and its cash flows for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

DELOITTE & TOUCHE LLP

Boston, Massachusetts

August 18, 2016

42

Eaton Vance

Senior Income Trust

June 30, 2016

Notice to Shareholders (Unaudited)

Under normal market conditions, the Trust will invest at least 80% of its total assets in Senior Loans of domestic and foreign borrowers that are denominated in U.S. dollars, euros, British pounds, Swiss francs, Canadian dollars and Australian dollars. The Trust may invest up to 20% of its total assets in: (i) loan interests which have (a) a second lien on collateral, (b) no security interest in the collateral, or (c) lower than a senior claim on collateral; (ii) other income producing securities, such as investment and non-investment grade corporate debt securities and U.S. government and U.S. dollar-denominated foreign government or supranational debt securities; and (iii) warrants and equity securities issued by a borrower or its affiliates as part of a package of investments in the borrower or its affiliates. Effective February 11, 2016, the Trust eliminated its policy limiting investment in fixed rate investments to not more than 10% of its total assets.

43

Eaton Vance

Senior Income Trust

June 30, 2016

Federal Tax Information (Unaudited)

The Form 1099-DIV you receive in February 2017 will show the tax status of all distributions paid to your account in calendar year 2016. Shareholders are advised to consult their own tax adviser with respect to the tax consequences of their investment in the Trust.

44

Eaton Vance

Senior Income Trust

June 30, 2016

Dividend Reinvestment Plan

The Trust offers a dividend reinvestment plan (Plan) pursuant to which shareholders automatically have distributions reinvested in common shares

(Shares) of the Trust unless they elect otherwise through their investment dealer. On the distribution payment date, if the NAV per Share is equal to or less

than the market price per Share plus estimated brokerage commissions, then new Shares will be issued. The number of Shares shall be determined by the

greater of the NAV per Share or 95% of the market price. Otherwise, Shares generally will be purchased on the open market by American Stock Transfer &

Trust Company LLC, the Plan agent (Agent). Distributions subject to income tax (if any) are taxable whether or not Shares are reinvested.

If your Shares are in the name of a brokerage firm, bank, or other nominee, you can ask the firm or nominee to participate in the Plan on your behalf. If

the nominee does not offer the Plan, you will need to request that the Trust transfer agent re-register your Shares in your name or you will not be able to

participate.

The Agent’s service fee for handling distributions will be paid by the Trust. Plan participants will be charged their pro rata share of brokerage commissions

on all open-market purchases.

Plan participants may withdraw from the Plan at any time by writing to the Agent at the address noted on the following page. If you withdraw, you will

receive Shares in your name for all Shares credited to your account under the Plan. If a participant elects by written notice to the Agent to sell part or all

of his or her Shares and remit the proceeds, the Agent is authorized to deduct a $5.00 fee plus brokerage commissions from the proceeds.

If you wish to participate in the Plan and your Shares are held in your own name, you may complete the form on the following page and deliver it to the

Agent. Any inquiries regarding the Plan can be directed to the Agent at 1-866-439-6787.

45

Eaton Vance

Senior Income Trust

June 30, 2016

Application for Participation in Dividend Reinvestment Plan

This form is for shareholders who hold their common shares in their own names. If your common shares are held in the name of a brokerage firm, bank, or other nominee, you should contact your nominee to see if it will participate in the Plan on your behalf. If you wish to participate in the Plan, but your brokerage firm, bank, or nominee is unable to participate on your behalf, you should request that your common shares be re-registered in your own name which will enable your participation in the Plan.

The following authorization and appointment is given with the understanding that I may terminate it at any time by terminating my participation in the Plan as provided in the terms and conditions of the Plan.

Please print exact name on account:

Shareholder signature Date

Shareholder signature Date

Please sign exactly as your common shares are registered. All persons whose names appear on the share certificate must sign.

YOU SHOULD NOT RETURN THIS FORM IF YOU WISH TO RECEIVE YOUR DISTRIBUTIONS IN CASH. THIS IS NOT A PROXY.

This authorization form, when signed, should be mailed to the following address:

Eaton Vance Senior Income Trust

c/o American Stock Transfer & Trust Company, LLC

P.O. Box 922

Wall Street Station

New York, NY 10269-0560

Number of Employees

The Trust is organized as a Massachusetts business trust and is registered under the Investment Company Act of 1940, as amended, as a closed-end management investment company and has no employees.

Number of Shareholders

As of June 30, 2016, Trust records indicate that there are 102 registered shareholders and approximately 10,099 shareholders owning the Trust shares in street name, such as through brokers, banks, and financial intermediaries.

If you are a street name shareholder and wish to receive Trust reports directly, which contain important information about the Trust, please write or call:

Eaton Vance Distributors, Inc.

Two International Place

Boston, MA 02110

1-800-262-1122

New York Stock Exchange symbol

The New York Stock Exchange symbol is EVF.

46

Eaton Vance

Senior Income Trust

June 30, 2016

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, administered and/or distributed by Eaton Vance Management or its affiliates (the “Eaton Vance Funds”) held on April 26, 2016, 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 2016. 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 and customized groups of peer funds 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;

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Eaton Vance

Senior Income Trust

June 30, 2016

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, 2016, 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, sixteen, four, nine and eleven 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 Eaton Vance Senior Income Trust (the “Fund”) with Eaton Vance Management (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 Fund.

Nature, Extent and Quality of Services

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

The Board considered the Adviser’s management capabilities and investment process with respect to the types of investments held by the Fund, including the education, experience and number of its investment professionals and other personnel who provide portfolio management, investment research, and similar services to the Fund. In particular, the Board considered the abilities and experience of such investment professionals in analyzing special considerations relevant to investing in senior floating rate loans. Specifically, the Board noted the experience of the Adviser’s large group of bank loan investment professionals and other personnel who provide services to the Fund, including portfolio managers and analysts. 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 Fund, 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 Fund, including the provision of administrative services.

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

48

Eaton Vance

Senior Income Trust

June 30, 2016

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 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.

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, as well as a customized peer group of similarly managed funds. The Board’s review included comparative performance data for the one-, three-, five- and ten-year periods ended September 30, 2015 for the Fund. In considering the Fund’s performance, the Board noted the adverse impact of the Fund’s focus on higher credit quality loans relative to comparable funds. On the basis of the foregoing and other relevant information provided by the Adviser in response to inquiries from the Contract Review Committee, the Board concluded that the performance of the Fund was satisfactory.

Management Fees and Expenses

The Board considered contractual fee rates payable 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, 2015, as compared to those of comparable funds, before and after giving effect to any undertaking to waive fees or reimburse expenses. The Board also considered certain Fund specific factors that had an impact on Fund expense ratios relative to comparable funds, as identified by management in response to inquiries from the Contract Review Committee. Additionally, the Board took into account the financial resources committed by the Adviser in structuring the Fund at the time of its initial public offering and the waiver of fees provided by the Adviser for the first five years of the Fund’s life. The Board also considered that, at the request of the Contract Review Committee, the Adviser had implemented a series of permanent reductions in management fees beginning in May 2010, which include a further fee reduction effective May 1, 2016.

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 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, including the benefits of research services that may be available to the Adviser as a result of securities transactions effected for the Fund 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, on the other hand, can expect to realize benefits from economies of scale as the assets of the Fund 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 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 considered the fact that the Fund is not continuously offered and that the Fund’s assets are not expected to increase materially in the foreseeable future. The Board concluded that, in light of the level of the Adviser’s profits with respect to the Fund, the implementation of breakpoints in the advisory fee schedule is not warranted at this time.

49

Eaton Vance

Senior Income Trust

June 30, 2016

Management and Organization

Fund Management . The Trustees of Eaton Vance Senior Income Trust (the Trust) are responsible for the overall management and supervision of the Trust’s affairs. The Trustees and officers of the Trust are listed below. Except as indicated, each individual has held the office shown or other offices in the same company for the last five years. The “Noninterested Trustees” consist of those Trustees who are not “interested persons” of the Trust, as that term is defined under the 1940 Act. The business address of each Trustee and officer is Two International Place, Boston, Massachusetts 02110. As used below, “EVC” refers to Eaton Vance Corp., “EV” refers to Eaton Vance, Inc., “EVM” refers to Eaton Vance Management, “BMR” refers to Boston Management and Research, “EVMI” refers to Eaton Vance Management (International) Limited and “EVD” refers to Eaton Vance Distributors, Inc. EVC and EV are the corporate parent and trustee, respectively, of EVM and BMR. EVMI is an indirect, wholly-owned subsidiary of EVC. EVD is the Trust’s principal underwriter and a wholly-owned subsidiary of EVC. Each officer affiliated with Eaton Vance may hold a position with other Eaton Vance affiliates that is comparable to his or her position with EVM listed below. Each Trustee oversees 175 portfolios in the Eaton Vance Complex (including all master and feeder funds in a master feeder structure). Each officer serves as an officer of certain other Eaton Vance funds. Each Trustee serves for a three year term. Each officer serves until his or her successor is elected.

Name and Year of Birth Position(s) with the Trust Term Expiring; Trustee Since (1) Principal Occupation(s) and Directorships During Past Five Years and Other Relevant Experience
Interested Trustee
Thomas E. Faust Jr. 1958 Class I Trustee Until 2017. Trustee since 2007. Chairman, Chief Executive Officer and President of EVC, Director and President of EV, Chief Executive Officer and President of EVM and BMR, and
Director of EVD and EVMI. Trustee and/or officer of 175 registered investment companies. Mr. Faust is an interested person because of his positions with EVM, BMR, EVD, EVMI, EVC and EV, which are affiliates of the Trust. Directorships in the Last Five Years . (2) Director of EVC and Hexavest Inc.
(investment management firm).
Noninterested Trustees
Scott E. Eston 1956 Class II Trustee Until 2018. Trustee since 2011. Private investor. Formerly held various positions at Grantham, Mayo, Van Otterloo and Co., L.L.C. (investment management firm) (1997-2009),
including Chief Operating Officer (2002-2009), Chief Financial Officer (1997-2009) and Chairman of the Executive Committee (2002-2008); President and Principal Executive Officer, GMO Trust (open-end registered investment company) (2006-2009). Former
Partner, Coopers and Lybrand L.L.P. (now PricewaterhouseCoopers) (a registered public accounting firm) (1987-1997). Mr. Eston has apprised the Board of Trustees that he intends to retire as a Trustee of all Eaton Vance funds at a mutually convenient
time in 2017. Directorships in the Last Five Years. (2) None.
Cynthia E. Frost 1961 Class I Trustee Until 2017. Trustee since 2014. Private investor. Formerly, Chief Investment Officer of Brown University (university endowment) (2000-2012); Portfolio Strategist for Duke
Management Company (university endowment manager) (1995-2000); Managing Director, Cambridge Associates (investment consulting company) (1989-1995); Consultant, Bain and Company (management consulting firm) (1987-1989); Senior Equity Analyst, BA
Investment Management Company (1983-1985). Directorships in the Last Five Years. None.
George J. Gorman 1952 Class III Trustee Until 2016. Trustee since 2014. Principal at George J. Gorman LLC (consulting firm). Formerly, Senior Partner at Ernst & Young LLP (a registered public accounting firm)
(1974-2009). Directorships in the Last Five Years. Formerly, Trustee of the Bank of America Money Market Funds Series Trust (2011-2014) and of the
Ashmore Funds (2010-2014).
Valerie A. Mosley 1960 Class I Trustee Until 2017. Trustee since 2014. Chairwoman and Chief Executive Officer of Valmo Ventures (a consulting and investment firm). Former Partner and Senior Vice President, Portfolio
Manager and Investment Strategist at Wellington Management Company, LLP (investment management firm) (1992-2012). Former Chief Investment Officer, PG Corbin Asset Management (1990-1992). Formerly worked in institutional corporate bond sales at
Kidder Peabody (1986-1990). Directorships in the Last Five Years. (2) Director of Dynex Capital, Inc. (mortgage REIT) (since 2013).

50

Eaton Vance

Senior Income Trust

June 30, 2016

Management and Organization — continued

Name and Year of Birth Position(s) with the Trust Term Expiring; Trustee Since (1) Principal Occupation(s) and Directorships During Past Five Years and Other Relevant Experience
Noninterested Trustees (continued)
William H. Park (A) 1947 Chairperson of the Board and Class III Trustee Until 2016. Chairperson of the Board since 2016 and Trustee since 2003. Private investor. Formerly, Consultant (management and transactional) (2012-2014). Formerly, Chief
Financial Officer, Aveon Group L.P. (investment management firm) (2010-2011). Formerly, Vice Chairman, Commercial Industrial Finance Corp. (specialty finance company) (2006-2010). Formerly, President and Chief Executive Officer, Prizm Capital
Management, LLC (investment management firm) (2002-2005). Formerly, Executive Vice President and Chief Financial Officer, United Asset Management Corporation (investment management firm) (1982-2001). Formerly,
Senior Manager, Price Waterhouse (now PricewaterhouseCoopers) (a registered public accounting firm) (1972-1981). Directorships in the Last Five Years. (2) None.
Helen Frame Peters 1948 Class II Trustee Until 2018. Trustee since 2008. Professor of Finance, Carroll School of Management, Boston College. Formerly, Dean, Carroll School of Management, Boston College (2000-2002).
Formerly, Chief Investment Officer, Fixed Income, Scudder Kemper Investments (investment management firm) (1998-1999). Formerly, Chief Investment Officer, Equity and Fixed Income, Colonial Management Associates (investment management firm)
(1991-1998). Directorships in the Last Five Years. (2) Formerly,
Director of BJ’s Wholesale Club, Inc. (wholesale club retailer) (2004-2011). Formerly, Trustee of SPDR Index Shares Funds and SPDR Series Trust (exchange traded funds) (2000-2009). Formerly, Director of Federal Home Loan Bank of Boston (a bank
for banks) (2007-2009).
Susan J. Sutherland 1957 Class I Trustee Until 2017. Trustee since 2015. Private investor. Formerly, Associate, Counsel and Partner at Skadden, Arps, Slate, Meagher & Flom LLP (law firm) (1982-2013). Directorships in the Last Five Years. Formerly, Director of Montpelier Re Holdings Ltd. (global provider of customized insurance and reinsurance products) (2013-2015).
Harriett Tee Taggart 1948 Class III Trustee Until 2016. Trustee since 2011. Managing Director, Taggart Associates (a professional practice firm). Formerly, Partner and Senior Vice President, Wellington Management Company,
LLP (investment management firm) (1983-2006). Directorships in the Last Five
Years. (2) Director of Albemarle Corporation (chemicals manufacturer) (since 2007) and The Hanover Group (specialty property and casualty insurance company) (since 2009).
Formerly, Director of Lubrizol Corporation (specialty chemicals) (2007-2011).
Ralph F. Verni (A) 1943 Class II Trustee Until 2018. Trustee since 2005. Consultant and private investor. Formerly, Chief Investment Officer (1982-1992), Chief Financial Officer (1988-1990) and Director (1982-1992), New
England Life. Formerly, Chairperson, New England Mutual Funds (1982-1992). Formerly, President and Chief Executive Officer, State Street Management & Research (1992-2000). Formerly, Chairperson, State Street Research Mutual Funds (1992-2000). Formerly, Director, W.P. Carey, LLC (1998-2004) and First Pioneer Farm Credit Corp. (financial services cooperative) (2002-2006). Consistent with the Trustee retirement policy, Mr. Verni is currently
expected to retire as a Trustee of all Eaton Vance funds effective July 1, 2017. Directorships in the Last Five Years. (2) None.
Principal Officers who are not Trustees
Name and Year of Birth Position(s) with the Trust Officer Since (3) Principal Occupation(s) During Past Five Years
Scott H. Page 1959 President 1996 Vice President of EVM and BMR.
Payson F. Swaffield 1956 Vice President 2003 Chief Income Investment Officer of EVC. Vice President of EVM and BMR.
Maureen A. Gemma 1960 Vice President, Secretary and Chief Legal Officer 2005 Vice President of EVM and BMR.

51

Eaton Vance

Senior Income Trust

June 30, 2016

Management and Organization — continued

Name and Year of Birth Position(s) with the Trust Officer Since (3) Principal Occupation(s) During Past Five Years
Principal Officers who are not Trustees (continued)
James F. Kirchner 1967 Treasurer 2007 Vice President of EVM and BMR.
Paul M. O’Neil 1953 Chief Compliance Officer 2004 Vice President of EVM and BMR.

(1) Year first appointed to serve as Trustee for a fund in the Eaton Vance family of funds. Each Trustee has served continuously since appointment unless indicated otherwise. Each Trustee holds office until the annual meeting for the year in which his or her term expires and until his or her successor is elected and qualified, subject to a prior death, resignation, retirement, disqualification or removal.

(2) During their respective tenures, the Trustees (except for Mmes. Frost and Sutherland and Mr. Gorman) also served as Board members of one or more of the following funds (which operated in the years noted): eUnits TM 2 Year U.S. Market Participation Trust: Upside to Cap / Buffered Downside (launched in 2012 and terminated in 2014); eUnits TM 2 Year U.S. Market Participation Trust II: Upside to Cap / Buffered Downside (launched in 2012 and terminated in 2014); and Eaton Vance National Municipal Income Trust (launched in 1998 and terminated in 2009). However, Ms. Mosley did not serve as a Board member of eUnits TM 2 Year U.S. Market Participation Trust: Upside to Cap / Buffered Downside (launched in 2012 and terminated in 2014).

(3) Year first elected to serve as officer of a fund in the Eaton Vance family of funds when the officer has served continuously. Otherwise, year of most recent election as an officer of a fund in the Eaton Vance family of funds. Titles may have changed since initial election.

(A) APS Trustee

52

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. Your financial advisor may household the mailing of your documents indefinitely unless you instruct your financial advisor otherwise. If you would prefer that your Eaton Vance documents not be householded, please 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 your financial advisor.

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.

Share Repurchase Program. The Fund’s Board of Trustees has approved a share repurchase program authorizing the Fund to repurchase up to 10% of its outstanding common shares as of the approved date in open-market transactions at a discount to net asset value. The repurchase program does not obligate the Fund to purchase a specific amount of shares. The Fund’s repurchase activity, including the number of shares purchased, average price and average discount to net asset value, is disclosed in the Fund’s annual and semi-annual reports to shareholders.

Additional Notice to Shareholders. If applicable, a Fund may also redeem or purchase its outstanding preferred shares in order to maintain compliance with regulatory requirements, borrowing or rating agency requirements or for other purposes as it deems appropriate or necessary.

Closed-End Fund Information. Eaton Vance closed-end funds make fund performance data and certain information about portfolio characteristics available on the Eaton Vance website shortly after the end of each month. Other information about the funds is available on the website. The funds’ net asset value per share is readily accessible on the Eaton Vance website. Portfolio holdings for the most recent month-end are also posted to the website approximately 30 days following the end of the month. This information is available at www.eatonvance.com on the fund information pages under “Individual Investors — Closed-End Funds”.

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Investment Adviser and Administrator

Eaton Vance Management

Two International Place

Boston, MA 02110

Custodian

State Street Bank and Trust Company

State Street Financial Center, One Lincoln Street

Boston, MA 02111

Transfer Agent

American Stock Transfer & Trust Company, LLC

6201 15th Avenue

Brooklyn, NY 11219

Independent Registered Public Accounting Firm

Deloitte & Touche LLP

200 Berkeley Street

Boston, MA 02116-5022

Fund Offices

Two International Place

Boston, MA 02110

171 6.30.16

Item 2. Code of Ethics

The registrant has adopted a code of ethics applicable to its Principal Executive Officer, Principal Financial Officer and Principal Accounting Officer. The registrant undertakes to provide a copy of such code of ethics to any person upon request, without charge, by calling 1-800-262-1122.

Item 3. Audit Committee Financial Expert

The registrant’s Board has designated William H. Park, an independent trustee, as its audit committee financial expert. Mr. Park is a certified public accountant who is a private investor. Previously, he served as a consultant, as the Chief Financial Officer of Aveon Group, L.P. (an investment management firm), as the Vice Chairman of Commercial Industrial Finance Corp. (specialty finance company), as President and Chief Executive Officer of Prizm Capital Management, LLC (investment management firm), as Executive Vice President and Chief Financial Officer of United Asset Management Corporation (an institutional investment management firm) and as a Senior Manager at Price Waterhouse (now PricewaterhouseCoopers) (an independent registered public accounting firm).

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 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 its lenders who are record owners of shares of one or more funds (the “Funds”) within the Eaton Vance Funds’ investment company complex 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.

D&T advised the Audit Committee that it believes that, in light of the facts surrounding its lending relationships, its ability to exercise objective and impartial judgment on all issues encompassed within D&T’s audit engagement has not been impaired. D&T has advised the Audit Committee that this conclusion is based in part on the following considerations: (1) Deloitte Entity personnel responsible for managing the lending relationships have had no interactions with the audit engagement team; (2) the lending relationships are in good standing and the principal and interest payments are up-to-date; (3) the lending relationships are not significant to the Deloitte Entities or to D&T.

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)) related to the auditor independence issue described above. In that 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. Based on information provided by D&T, the requirements of the no-action letter appear to be met with respect to D&T’s lending relationships described above. The SEC has indicated that the no-action relief will expire 18 months from its issuance.

(a)-(d)

The following table presents the aggregate fees billed to the registrant for the registrant’s fiscal years ended June 30, 2015 and June 30, 2016 by the registrant’s principal accountant, Deloitte & Touche LLP (“D&T”), for professional services rendered for the audit of the registrant’s annual financial statements and fees billed for other services rendered by D&T during such periods.

Eaton Vance Senior Income Trust

Fiscal Years Ended 06/30/15 06/30/16
Audit Fees $ 79,675 $ 95,625
Audit-Related Fees (1) $ 0 $ 18,000
Tax Fees (2) $ 19,900 $ 20,099
All Other Fees (3) $ 0 $ 0
Total $ 99,575 $ 133,724

(1) Audit-related fees consist of the aggregate fees billed for assurance and related services that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under the category of audit fees and specifically includes fees for the performance of certain agreed upon procedures relating to the registrant’s revolving credit agreement.

(2) Tax fees consist of the aggregate fees billed for professional services rendered by the principal accountant relating to tax compliance, tax advice, and tax planning and specifically include fees for tax return preparation and other related tax compliance/planning matters.

(3) All other fees consist of the aggregate fees billed for products and services provided by the registrant’s principal accountant other than audit, audit-related, and tax services.

(e)(1) The registrant’s audit committee has adopted policies and procedures relating to the pre-approval of services provided by the registrant’s principal accountant (the “Pre-Approval Policies”). The Pre-Approval Policies establish a framework intended to assist the audit committee in the proper discharge of its pre-approval responsibilities. As a general matter, the Pre-Approval Policies (i) specify certain types of audit, audit-related, tax, and other services determined to be pre-approved by the audit committee; and (ii) delineate specific procedures governing the mechanics of the pre-approval process, including the approval and monitoring of audit and non-audit service fees. Unless a service is specifically pre-approved under the Pre-Approval Policies, it must be separately pre-approved by the audit committee.

The Pre-Approval Policies and the types of audit and non-audit services pre-approved therein must be reviewed and ratified by the registrant’s audit committee at least annually. The registrant’s audit committee maintains full responsibility for the appointment, compensation, and oversight of the work of the registrant’s principal accountant.

(e)(2) No services described in paragraphs (b)-(d) above were approved by the registrant’s audit committee pursuant to the “de minimis exception” set forth in Rule 2-01 (c)(7)(i)(C) of Regulation S-X.

(f) Not applicable.

(g) The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the registrant by D&T for the registrant’s fiscal years ended June 30, 2015 and June 30, 2016; and (ii) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to the Eaton Vance organization by D&T for the same time periods.

Fiscal Years Ended 06/30/15 06/30/16
Registrant $ 19,900 $ 38,099
Eaton Vance (1) $ 76,000 $ 56,434

(1) The investment adviser to the registrant, as well as any of its affiliates that provide ongoing services to the registrant, are subsidiaries of Eaton Vance Corp.

(h) The registrant’s audit committee has considered whether the provision by the registrant’s principal accountant of non-audit services to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining the principal accountant’s independence.

Item 5. Audit Committee of Listed registrants

The registrant has a separately-designated standing audit committee established in accordance with Section 3(a)(58)(A) of the Securities and Exchange Act of 1934, as amended. Ralph F. Verni (Chair), Scott E. Eston, George J. Gorman and William H. Park are the members of the registrant’s audit committee.

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

The Board of Trustees of the Trust has adopted a proxy voting policy and procedure (the “Fund Policy”), pursuant to which the Trustees have delegated proxy voting responsibility to the Fund’s investment adviser and adopted the investment adviser’s proxy voting policies and procedures (the “Policies”) which are described below. The Trustees will review the Fund’s proxy voting records from time to time and will annually consider approving the Policies for the upcoming year. In the event that a conflict of interest arises between the Fund’s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund, the investment adviser will generally refrain from voting the proxies related to the companies giving rise to such conflict until it consults with the Board’s Special Committee except as contemplated under the Fund Policy. The Board’s Special Committee will instruct the investment adviser on the appropriate course of action.

The Policies are designed to promote accountability of a company’s management to its shareholders and to align the interests of management with those shareholders. An independent proxy voting service (“Agent”), currently Institutional Shareholder Services, Inc., has been retained to assist in the voting of proxies through the provision of vote analysis, implementation and recordkeeping and disclosure services. The investment adviser will generally vote proxies through the Agent. The Agent is required to vote all proxies and/or refer them back to the investment adviser pursuant to the Policies. It is generally the policy of the investment adviser to vote in accordance with the recommendation of the Agent. The Agent shall refer to the investment adviser proxies relating to mergers and restructurings, and the disposition of assets, termination, liquidation and mergers contained in mutual fund proxies. The investment adviser will normally vote against anti-takeover measures and other proposals designed to limit the ability of shareholders to act on possible transactions, except in the case of closed-end management investment companies. The investment adviser generally supports management on social and environmental proposals. The investment adviser may abstain from voting from time to time where it determines that the costs associated with voting a proxy outweighs the benefits derived from exercising the right to vote or the economic effect on shareholders interests or the value of the portfolio holding is indeterminable or insignificant.

In addition, the investment adviser will monitor situations that may result in a conflict of interest between the Fund’s shareholders and the investment adviser, the administrator, or any of their affiliates or any affiliate of the Fund by maintaining a list of significant existing and prospective corporate clients. The investment adviser’s personnel responsible for reviewing and voting proxies on behalf of the Fund will report any proxy received or expected to be received from a company included on that list to the personnel of the investment adviser identified in the Policies. If such personnel expects to instruct the Agent to vote such proxies in a manner inconsistent with the guidelines of the Policies or the recommendation of the Agent, the personnel will consult with members of senior management of the investment adviser to determine if a material conflict of interests exists. If it is determined that a material conflict does exist, the investment adviser will seek instruction on how to vote from the Special Committee.

Information on how the Fund voted proxies relating to portfolio securities during the most recent 12 month period ended June 30 is available (1) without charge, upon request, by calling 1-800-262-1122, and (2) on the Securities and Exchange Commission’s website at http://www.sec.gov .

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

Eaton Vance Management (“EVM” or “Eaton Vance”) is the investment adviser of the Trust. Scott H. Page and John P. Redding comprise the investment team responsible for the overall management of the Trust’s investments.

Mr. Page is a Vice President of EVM, has been a portfolio manager of the Trust since October 1998 and is Co-Director of EVM’s Floating-Rate Loan Group. Mr. Redding is a Vice President of EVM and has been a portfolio manager of the Trust since November 2001. Messrs. Page and Redding have managed other Eaton Vance portfolios for more than five years. This information is provided as of the date of filing of this report.

The following table shows, as of the Trust’s most recent fiscal year end, the number of accounts each portfolio manager managed in each of the listed categories and the total assets (in millions of dollars) in the accounts managed within each category. The table also shows the number of accounts with respect to which the advisory fee is based on the performance of the account, if any, and the total assets (in millions of dollars) in those accounts.

Total Assets of All Accounts Total Assets of Accounts Paying a Performance Fee
Scott H. Page
Registered Investment Companies 13 $ 20,227.2 0 $ 0
Other Pooled Investment Vehicles 12 $ 9,210.7 1 $ 2.4
Other Accounts 8 $ 4,233.1 0 $ 0
John P. Redding
Registered Investment Companies 1 $ 386.8 0 $ 0
Other Pooled Investment Vehicles 7 $ 1,875.0 0 $ 0
Other Accounts 0 $ 0 0 $ 0

The following table shows the dollar range of Trust shares beneficially owned by each portfolio manager as of the Trust’s most recent fiscal year end.

Portfolio Manager Dollar Range of Equity Securities Owned in the Trust
Scott H. Page $100,001 - $500,000
John P. Redding $100,001 - $500,000

Potential for Conflicts of Interest. It is possible that conflicts of interest may arise in connection with a portfolio manager’s management of the Trust’s investments on the one hand and investments of other accounts for which a portfolio manager is responsible on the other. For example, a portfolio manager may have conflicts of interest in allocating management time, resources and investment opportunities among the Trust and other accounts he or she advises. In addition, due to differences in the investment strategies or restrictions between the Trust and the other accounts, a portfolio manager may take action with respect to another account that differs from the action taken with respect to the Trust. In some cases, another account managed by a portfolio manager may compensate the investment adviser based on the performance of the securities held by that account. The existence of such a performance based fee may create additional conflicts of interest for a portfolio manager in the allocation of management time, resources and investment opportunities. Whenever conflicts of interest arise, a portfolio manager will endeavor to exercise his or her discretion in a manner that he or she believes is equitable to all interested persons. EVM has adopted several policies and procedures designed to address these potential conflicts including a code of ethics and policies which govern the investment adviser’s trading practices, including among other things the aggregation and allocation of trades among clients, brokerage allocation, cross trades and best execution.

Compensation Structure for EVM

Compensation of EVM’s portfolio managers and other investment professionals has three primary components: (1) a base salary, (2) an annual cash bonus, and (3) annual stock-based compensation consisting of options to purchase shares of Eaton Vance Corp.’s (“EVC’s”) nonvoting common stock and restricted shares of EVC’s nonvoting common stock. EVM’s investment professionals also receive certain retirement, insurance and other benefits that are broadly available to EVM’s employees. Compensation of EVM’s investment professionals is reviewed primarily on an annual basis. Cash bonuses, stock-based compensation awards, and adjustments in base salary are typically paid or put into effect at or shortly after the October 31st fiscal year end of EVC.

Method to Determine Compensation . EVM compensates its portfolio managers based primarily on the scale and complexity of their portfolio responsibilities and the total return performance of managed funds and accounts versus the benchmark(s) stated in the prospectus, as well as an appropriate peer group (as described below). In addition to rankings within peer groups of funds on the basis of absolute performance, consideration may also be given to relative risk-adjusted performance. Risk-adjusted performance measures include, but are not limited to, the Sharpe ratio (Sharpe ratio uses standard deviation and excess return to determine reward per unit of risk). Performance is normally based on periods ending on the September 30th preceding fiscal year end. Fund performance is normally evaluated primarily versus peer groups of funds as determined by Lipper Inc. and/or Morningstar, Inc. When a fund’s peer group as determined by Lipper or Morningstar is deemed by EVM’s management not to provide a fair comparison, performance may instead be evaluated primarily against a custom peer group or market index. In evaluating the performance of a fund and its manager, primary emphasis is normally placed on three-year performance, with secondary consideration of performance over longer and shorter periods. A portion of the compensation payable to equity portfolio managers and investment professionals will be determined based on the ability of one or more accounts managed by such manager to achieve a specified target average annual gross return over a three year period in excess of the account benchmark. The cash bonus to be payable at the end of the three year term will be established at the inception of the term and will be adjusted positively or negatively to the extent that the average annual gross return varies from the specified target return. For funds that are tax-managed or otherwise have an objective of after-tax returns, performance is measured net of taxes. For other funds, performance is evaluated on a pre-tax basis. For funds with an investment objective other than total return (such as current income), consideration will also be given to the fund’s success in achieving its objective. For managers responsible for multiple funds and accounts, investment performance is evaluated on an aggregate basis, based on averages or weighted averages among managed funds and accounts. Funds and accounts that have performance-based advisory fees are not accorded disproportionate weightings in measuring aggregate portfolio manager performance.

The compensation of portfolio managers with other job responsibilities (such as heading an investment group or providing analytical support to other portfolios) will include consideration of the scope of such responsibilities and the managers’ performance in meeting them.

EVM seeks to compensate portfolio managers commensurate with their responsibilities and performance, and competitive with other firms within the investment management industry. EVM participates in investment-industry compensation surveys and utilizes survey data as a factor in determining salary, bonus and stock-based compensation levels for portfolio managers and other investment professionals. Salaries, bonuses and stock-based compensation are also influenced by the operating performance of EVM and its parent company. The overall annual cash bonus pool is generally based on a substantially fixed percentage of pre-bonus adjusted operating income. While the salaries of EVM’s portfolio managers are comparatively fixed, cash bonuses and stock-based compensation may fluctuate significantly from year to year, based on changes in manager performance and other factors as described herein. For a high performing portfolio manager, cash bonuses and stock-based compensation may represent a substantial portion of total compensation.

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

No such purchases this period.

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 Senior Income Trust

By: /s/ Scott H. Page
Scott H. Page
President
Date: August 18, 2016

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: August 18, 2016
By: /s/ Scott H. Page
Scott H. Page
President
Date: August 18, 2016

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