SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  Schedule 13G

                  Under the Securities Exchange Act of 1934
                                (Amendment No.)*

                               Port Financial Corp
                 --------------------------------------------
                                (Name of Issuer)

                                  Common stock
                 --------------------------------------------
                         (Title of Class of Securities)

                                    734119100
                          -------------------------
                                 (CUSIP Number)



Check the following  box if a fee is being paid with this  statement [ ]. (A fee
is not required only if the filing person:  (1) has a previous statement on file
reporting  beneficial  ownership of more than 5 percent of the class  securities
described in Item 1; and (2) has filed no amendment subsequent thereto reporting
beneficial ownership of five percent or less of such class.) (See Rule 13d-7.)

* The  remainder  of the cover page shall be filled out for a reporting  persons
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934
(Act) or  otherwise  subject to the  liabilities  of that section of the Act but
shall be subject to all other provisions of the act (however, see the Notes).

                       (Continued on following page(s))
                                Page 1 of 5 Pages
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                  CUSIP No. 734119100 13G Page 2 of 5 Pages
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1.    NAME OF REPORTING PERSON
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      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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      Loomis Sayles & Co., L.P.
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      #04-3200030
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2.    CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                  (a)  [  ]
                                                                  (b)  [  ]
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3.    SEC USE ONLY
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4.    CITIZENSHIP OR PLACE OF ORGANIZATION
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      Reporting  Person:  Citizenship  or place of  organization  of  Delaware
laws.  Principal
            office of Reporting Person is in Boston, MA.
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                              5.    SOLE VOTING POWER
                                                                         210,025
      NUMBER OF
         SHARES               6.    SHARED VOTING POWER
         BENEFICIALLY                               -0-
      OWNED BY EACH
      REPORTING               7.    SOLE DISPOSITIVE POWER
         PERSON WITH                            287,700

                              8.    SHARED DISPOSITIVE POWER
                                                    -0-
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9.    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING       PERSON
                                                287,700
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10.   CHECK BOX IF AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN   SHARES*
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11.   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
                                                6.09%
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12.   TYPE OF REPORTING PERSON*
            Investment adviser

            *SEE INSTRUCTIONS BEFORE FILLING OUT




                                       -2-





SCHEDULE G

      Item 1(a).  Name of Issuer
                  Port Financial Corp

      Item 1(b).  Address of Issuers Principal Office
                  1380 Soldiers Field Rd
                  Brighton MA, 02135

      Item 2(a).  Name of Person Filing
                  Loomis, Sayles & Co., L.P.

      Item 2(b).  Address of Principal Business Office
                  One Financial Center
                  Boston, MA  02111

      Item 2(c).  Citizenship
                  Reporting  Person:  Citizenship or place of  organization of
Delaware laws.                Principal  office of Reporting Person is Boston,
MA

      Item 2(d).  Title of Class of Securities
                  Common Stock

      Item 2(e).  CUSIP Number
                  734119100

      Item 3. If  this  statement  is  filed  pursuant  to  Rules  13d-1(b),  or
13d-2(b), check whether the person filing is a:

            (a)   [ ]   Broker or dealer  registered  under  Section 15 of the
Act
            (b)   [ ]   Bank as defined in Section 3(a)(6) of the Act
            (c)   [ ]   Insurance  Company  registered  under Section 3(a)(19)
of the Act
            (d)   [ ]   Investment  company  registered under Section 8 of the
Investment                          Company Act
            (e)   [x]   Investment  Adviser  registered  under  Section 203 of
the Investment                            Advisers Act of 1940
            (f)   [ ]   Employee  Benefit Plan,  Pension Fund which is subject
to the                              provisions  of  the  Employee   Retirement
Income Security Act of                          1974 or  Endowment  Fund:  see
Section 240.13d-1(b)(1)(ii)(F)
            (g)   [ ]   Parent  Holding  Company,  in accordance  with Section
240.13d-                            1(b)(ii)(G) (Note: See Item 7)
            (h)   [ ]   Group,       in      accordance      with      Section
240.13d-1(b)(1)(ii)(H)




                                       -3-


SCHEDULE G

      Item 4.           Ownership

                  If the  percent of the class  owned,  as of December 31 of the
                  year  covered by the  statement,  or as of the last day of any
                  month described in Rule 13d-1(b)(2), if applicable,  exceeds 5
                  percent, provide the following information as of that date and
                  identify those shares which there is a right to acquire.

      (a)   Amount beneficially owned:    287,700
      (b)   Percent of Class:       6.09%
      (c)   Number of shares as to which such person has:

            (i)   sole power to vote or to direct the vote:
                                     210,025
            (ii)  shared power to vote or to direct the vote:
                                       -0-
            (iii) sole power to dispose or to direct the
disposition of:         287,700
            (iv)  shared power to dispose or direct the
disposition of:            -0-

            Loomis, Sayles & Company, L.P.  disclaims any beneficial interest
in any of the foregoing securities.

      Item 5.           Ownership of Five Percent or Less of a Class.
                        ---------------------------------------------

                  If this statement is being filed to report the fact that as of
the date hereof the reporting  person has ceased to be the  beneficial  owner of
more than five percent of the class of securities, check the following [ ].

      Item 6.           Ownership  of More  than  Five  Percent  on Behalf of
                        ------------------------------------------------------
Another Person.
---------------

                  If any other  person is known to have the right to  receive or
                  the power to direct the  receipt  of  dividends  from,  or the
                  proceeds  from the sale of, such  securities,  a statement  to
                  that  effect  should be included in response to this item and,
                  if such  interest  relates  to more than five  percent  of the
                  class,  such  person  should be  identified.  A listing of the
                  shareholders  of an investment  company  registered  under the
                  Investment  Company  Act of  1940 or the  beneficiaries  of an
                  employee  benefit plan,  pension fund or endowment fund is not
                  required.

                  Clients of  Reporting  Person have such a right,  none of whom
                  has such interest relating to more than 5% of any class.



                                       -4-


SCHEDULE G

      Item 7.           Identification  and  Classification of the Subsidiary
                        ------------------------------------------------------
Which Acquired the                        Security  Being  Reported on By the
------------------                        ------------------------------------
Parent Holding Company.
----------------------

                  If a parent holding company has filed this schedule,  pursuant
                  to Rule  13d-1(b)(ii)(G),  so  indicate  under  Item  3(g) and
                  attach  an  exhibit  stating  the  identity  and  the  Item  3
                  classification of the relevant subsidiary. If a parent holding
                  company has filed this  schedule  pursuant  to Rule  13d-1(c),
                  attach an exhibit stating the  identification  of the relevant
                  subsidiary.

                  Inapplicable

      Item 8.           Identification  and  Classification of Members of the
                        ------------------------------------------------------
Group.
-----

                  If  a  group  has  filed  this   schedule   pursuant  to  Rule
13d-1(b)(ii)(H),  so indicate under Item 3(b) and attach an exhibit  stating the
identity and Item 3  classification  of each member of the group. If a group has
filed this schedule  pursuant to Rule  13d-1(c),  attach an exhibit  stating the
identity of each member of the group.

                  Inapplicable

      Item 9.           Notice of Dissolution of Group

                  Inapplicable

      Item 10.    Certification

                  By signing  below I certify  that, to the best of my knowledge
                  and belief, the securities  referred to above were acquired in
                  the ordinary  course of business and were not acquired for the
                  purpose  of  and  do  not  have  the  effect  of  changing  or
                  influencing  the control of the issuer of such  securities and
                  were not acquired in connection  with or as a  participant  in
                  any transaction having such purposes or effect.

      Signature

      After  reasonable  inquire and to the best of my knowledge  and belief,  I
certify that the information  set forth in this statement is true,  complete and
correct.

                               Date:      December 31, 2002

                        Signature: /s/ Peter Giannakoulis

                           Name/Title:    Peter Giannakoulis
                                    Securities Trading Manager

                                       -5-