Eaton Vance Ohio Municipals 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: 811-09149
Eaton Vance
Ohio Municipal 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)
November 30
Date
of Fiscal Year End
May 31, 2014
Date of Reporting Period
Item 1. Reports to Stockholders
Eaton Vance
Municipal Income Trusts
Semiannual Report
May 31, 2014
California (CEV) • Massachusetts (MMV) • Michigan (EMI)
• New Jersey (EVJ)
New
York (EVY) • Ohio (EVO) • Pennsylvania (EVP)
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. Each Fund has claimed an exclusion from the definition of the term “commodity pool
operator” under the Commodity Exchange Act. Accordingly, neither the Funds nor the adviser with respect to the operation of the Funds is subject to CFTC regulation. Because of its management of other strategies, each 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.
Semiannual Report May 31, 2014
Eaton Vance
Municipal Income Trusts
Table of Contents
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| Performance and Fund Profile |
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| California Municipal Income Trust |
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2 |
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| Massachusetts Municipal Income Trust |
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3 |
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| Michigan Municipal Income Trust |
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4 |
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| New Jersey Municipal Income Trust |
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5 |
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| New York Municipal Income Trust |
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6 |
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| Ohio Municipal Income Trust |
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7 |
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| Pennsylvania Municipal Income Trust |
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8 |
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| Endnotes and Additional Disclosures |
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9 |
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| Financial Statements |
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10 |
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| Annual Meeting of Shareholders |
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65 |
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| Board of Trustees’ Contract Approval |
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66 |
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| Officers and Trustees |
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69 |
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| Important Notices |
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|
70 |
|
Eaton Vance
California Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Craig R. Brandon, CFA
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|
|
|
|
|
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| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
12.39 |
% |
|
|
4.98 |
% |
|
|
10.25 |
% |
|
|
5.65 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
17.57 |
|
|
|
5.07 |
|
|
|
9.81 |
|
|
|
5.19 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
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|
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|
|
|
|
|
|
|
|
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| % Premium/Discount to NAV3 |
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|
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|
|
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|
–8.04 |
% |
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|
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| Distributions4 |
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|
|
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|
|
|
|
|
|
|
|
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| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
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|
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|
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|
$ |
0.389 |
|
| Distribution Rate at NAV |
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|
|
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|
|
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|
|
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|
5.38 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
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|
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|
10.96 |
% |
| Distribution Rate at Market Price |
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|
5.85 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.92 |
% |
|
|
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|
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| % Total Leverage5 |
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|
|
|
|
|
|
|
|
|
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| Auction Preferred Shares (APS) |
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|
30.46 |
% |
| Residual Interest Bond (RIB) |
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
8.95 |
|
Fund Profile
Credit Quality (% of
total investments)6
The above chart includes the ratings of securities held by special purpose vehicles
established in connection with the RIB financing.5 Absent such securities,
credit quality (% of total investments) is as follows:6
|
|
|
|
|
|
|
|
|
|
|
| AAA |
|
|
4.4 |
% |
|
BBB |
|
|
9.3 |
% |
| AA |
|
|
63.7 |
|
|
BB |
|
|
0.7 |
|
| A |
|
|
19.0 |
|
|
Not Rated |
|
|
2.9 |
|
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 includes 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 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
Massachusetts Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Craig R. Brandon, CFA
|
|
|
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|
|
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|
|
|
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|
|
|
|
|
|
|
|
|
| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
11.85 |
% |
|
|
4.46 |
% |
|
|
9.92 |
% |
|
|
6.08 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
16.10 |
|
|
|
2.81 |
|
|
|
7.75 |
|
|
|
5.09 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Premium/Discount to NAV3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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|
–9.50 |
% |
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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|
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|
|
|
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|
|
| Distributions4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.360 |
|
| Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.59 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8.55 |
% |
| Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.07 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.45 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Total Leverage5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| APS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31.08 |
% |
| RIB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.25 |
|
Fund Profile
Credit Quality (% of
total investments)6
The above chart includes the ratings of securities held by special purpose vehicles
established in connection with the RIB financing.5 Absent such securities,
credit quality (% of total investments) is as follows:6
|
|
|
|
|
|
|
|
|
|
|
| AAA |
|
|
18.8 |
% |
|
BB |
|
|
1.4 |
% |
| AA |
|
|
47.8 |
|
|
B |
|
|
1.3 |
|
| A |
|
|
21.2 |
|
|
Not Rated |
|
|
0.9 |
|
| BBB |
|
|
8.6 |
|
|
|
|
|
|
|
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 includes 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 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.
Eaton Vance
Michigan Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Thomas M. Metzold, CFA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
13.83 |
% |
|
|
5.34 |
% |
|
|
9.77 |
% |
|
|
5.99 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
18.04 |
|
|
|
1.07 |
|
|
|
9.65 |
|
|
|
4.18 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Premium/Discount to NAV3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–11.64 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.355 |
|
| Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.97 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.17 |
% |
| Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.63 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.39 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Total Leverage5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| APS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
36.70 |
% |
Fund Profile
Credit Quality (% of
total investments)6
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 includes 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 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.
Eaton Vance
New Jersey Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Adam A. Weigold, CFA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
11.33 |
% |
|
|
4.97 |
% |
|
|
9.19 |
% |
|
|
6.05 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
14.49 |
|
|
|
0.72 |
|
|
|
7.94 |
|
|
|
5.03 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Premium/Discount to NAV3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–9.22 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.379 |
|
| Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.20 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.09 |
% |
| Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.73 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.12 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Total Leverage5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| APS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32.56 |
% |
| RIB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3.68 |
|
Fund Profile
Credit Quality (% of
total investments)6
The above chart includes the ratings of securities held by special purpose vehicles
established in connection with the RIB financing.5 Absent such securities,
credit quality (% of total investments) is as follows:6
|
|
|
|
|
|
|
|
|
|
|
| AAA |
|
|
12.8 |
% |
|
BBB |
|
|
8.3 |
% |
| AA |
|
|
27.9 |
|
|
B |
|
|
2.1 |
|
| A |
|
|
45.0 |
|
|
Not Rated |
|
|
3.9 |
|
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 includes 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 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.
Eaton Vance
New York Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Craig R. Brandon, CFA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
11.97 |
% |
|
|
4.85 |
% |
|
|
10.97 |
% |
|
|
6.06 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
20.92 |
|
|
|
6.21 |
|
|
|
9.51 |
|
|
|
6.59 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Premium/Discount to NAV3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–1.46 |
% |
| Distributions4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.435 |
|
| Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.05 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.72 |
% |
| Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.14 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.90 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Total Leverage5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| APS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25.60 |
% |
| RIB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14.66 |
|
Fund Profile
Credit Quality (% of
total investments)6
The above chart includes the ratings of securities held by special purpose vehicles
established in connection with the RIB financing.5 Absent such securities,
credit quality (% of total investments) is as follows:6
|
|
|
|
|
|
|
|
|
|
|
| AAA |
|
|
15.4 |
% |
|
BBB |
|
|
13.7 |
% |
| AA |
|
|
34.7 |
|
|
BB |
|
|
3.7 |
|
| A |
|
|
26.2 |
|
|
Not Rated |
|
|
6.3 |
|
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 includes 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 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.
Eaton Vance
Ohio Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Thomas M. Metzold, CFA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
12.76 |
% |
|
|
5.87 |
% |
|
|
9.86 |
% |
|
|
6.28 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
20.32 |
|
|
|
4.73 |
|
|
|
8.74 |
|
|
|
5.58 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Premium/Discount to NAV3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–6.48 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.366 |
|
| Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4.94 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.23 |
% |
| Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.28 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9.86 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Total Leverage5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| APS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
34.18 |
% |
| RIB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.19 |
|
Fund Profile
Credit Quality (% of
total investments)6
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 includes 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 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.
Eaton Vance
Pennsylvania Municipal Income Trust
May 31, 2014
Performance1,2
Portfolio Manager Adam A. Weigold, CFA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Average Annual Total Returns |
|
Inception Date |
|
|
Six Months |
|
|
One Year |
|
|
Five Years |
|
|
Ten Years |
|
| Fund at NAV |
|
|
01/29/1999 |
|
|
|
11.26 |
% |
|
|
4.97 |
% |
|
|
8.42 |
% |
|
|
5.64 |
% |
| Fund at Market Price |
|
|
— |
|
|
|
19.61 |
|
|
|
5.75 |
|
|
|
7.84 |
|
|
|
5.18 |
|
| Barclays Long (22+) Year Municipal Bond Index |
|
|
— |
|
|
|
9.19 |
% |
|
|
2.94 |
% |
|
|
7.68 |
% |
|
|
5.72 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Premium/Discount to NAV3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
–7.82 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Distributions4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Distributions per share for the period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
0.389 |
|
| Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5.65 |
% |
| Taxable-Equivalent Distribution Rate at NAV |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10.30 |
% |
| Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6.13 |
% |
| Taxable-Equivalent Distribution Rate at Market Price |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11.17 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| % Total Leverage5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| APS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
35.16 |
% |
| RIB |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2.74 |
|
Fund Profile
Credit Quality (% of
total investments)6
The above chart includes the ratings of securities held by special purpose vehicles
established in connection with the RIB financing.5 Absent such securities,
credit quality (% of total investments) is as follows:6
|
|
|
|
|
|
|
|
|
|
|
| AAA |
|
|
3.5 |
% |
|
BBB |
|
|
3.1 |
% |
| AA |
|
|
43.9 |
|
|
Not Rated |
|
|
2.9 |
|
| A |
|
|
46.6 |
|
|
|
|
|
|
|
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 includes 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 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.
Eaton Vance
Municipal Income Trusts
May 31, 2014
Endnotes and Additional Disclosures
| 1 |
Barclays Long (22+) Year Municipal Bond Index is an unmanaged index of municipal bonds traded in the U.S. with maturities of 22 years or more. Unless
otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index. |
| 2 |
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. |
| 3 |
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. |
| 4 |
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 tax-exempt income, qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also
known as return of capital. 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. As portfolio and market conditions change, the rate of distributions paid by the Fund could change. Taxable-equivalent
performance is based on the highest combined federal and state income tax rates, where applicable. Lower tax rates would result in lower tax-equivalent performance. Actual tax rates will vary depending on your income, exemptions and deductions.
Rates do not include local taxes. |
| 5 |
Fund employs RIB financing and/or APS leverage. The leverage created by RIB investments and APS provides an opportunity for increased income but, at the same
time, creates special risks (including the likelihood of greater price volatility). The cost of leverage rises and falls with changes in short-term interest rates. See “Floating Rate Notes Issued in Conjunction with Securities Held” in the
notes to the financial statements for more information about RIB financing. RIB leverage represents the amount of Floating Rate Notes outstanding at period end as a percentage of Fund net assets applicable to common shares plus APS and Floating Rate
Notes. APS leverage represents the liquidation value of the Fund’s APS outstanding at period end as a percentage of Fund net assets applicable to common shares plus APS and Floating Rate Notes. 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. Floating Rate Notes in both calculations reflect the effect of RIBs purchased in secondary market transactions, if applicable.
|
| 6 |
Ratings are based on Moody’s, S&P or Fitch, as applicable. If securities are rated differently by the rating agencies, the higher rating is applied.
Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings
ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody’s) are considered to be investment grade quality. Credit ratings are based
largely on the rating agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of
the volatility of a security’s market value or of the liquidity of an investment in the security. Holdings designated as “Not Rated” are not rated by the national rating agencies stated above. |
| |
Fund profile subject to change due to active management. |
| |
Important Notice to Shareholders |
| |
Effective March 3, 2014, Michigan Municipal Income Trust and Ohio Municipal Income Trust are managed by Thomas M. Metzold, CFA.
|
Eaton Vance
California Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
| Tax-Exempt Investments — 162.6% |
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Education — 18.2% |
|
| California Educational Facilities Authority, (Claremont McKenna College), 5.00%, 1/1/39 |
|
$ |
3,135 |
|
|
$ |
3,429,251 |
|
| California Educational Facilities Authority, (Harvey Mudd College), 5.25%, 12/1/31 |
|
|
195 |
|
|
|
219,746 |
|
| California Educational Facilities Authority, (Harvey Mudd College), 5.25%, 12/1/36 |
|
|
330 |
|
|
|
366,782 |
|
| California Educational Facilities Authority, (Loyola Marymount University), 5.00%, 10/1/30 |
|
|
745 |
|
|
|
821,452 |
|
| California Educational Facilities Authority, (Lutheran University), 5.00%, 10/1/29 |
|
|
2,440 |
|
|
|
2,452,859 |
|
| California Educational Facilities Authority, (Santa Clara University), 5.00%, 9/1/23 |
|
|
1,600 |
|
|
|
1,916,112 |
|
| California Educational Facilities Authority, (University of San Francisco), 6.125%, 10/1/36 |
|
|
235 |
|
|
|
281,591 |
|
| California Educational Facilities Authority, (University of Southern California), 5.25%, 10/1/39 |
|
|
2,490 |
|
|
|
2,840,293 |
|
| California Educational Facilities Authority, (University of the Pacific), 5.00%, 11/1/30 |
|
|
630 |
|
|
|
701,934 |
|
| California Municipal Finance Authority, (University of San Diego), 5.00%, 10/1/31 |
|
|
415 |
|
|
|
458,197 |
|
| California Municipal Finance Authority, (University of San Diego), 5.00%, 10/1/35 |
|
|
285 |
|
|
|
310,607 |
|
| California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/26 |
|
|
810 |
|
|
|
921,464 |
|
| California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/27 |
|
|
850 |
|
|
|
962,506 |
|
| California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/28 |
|
|
895 |
|
|
|
1,008,781 |
|
| University of California, 5.25%, 5/15/39 |
|
|
1,250 |
|
|
|
1,433,875 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
18,125,450 |
|
| |
|
|
|
|
|
|
|
|
|
| Electric Utilities — 14.5% |
|
| Chula Vista, (San Diego Gas and Electric), 5.875%, 2/15/34 |
|
$ |
270 |
|
|
$ |
311,772 |
|
| Chula Vista, (San Diego Gas and Electric), (AMT), 5.00%, 12/1/27 |
|
|
2,275 |
|
|
|
2,439,824 |
|
| Colton Public Financing Authority, Electric System Revenue, 5.00%, 4/1/27 |
|
|
1,500 |
|
|
|
1,678,065 |
|
| Los Angeles Department of Water and Power, Electric System Revenue, 5.25%, 7/1/32 |
|
|
2,170 |
|
|
|
2,474,689 |
|
| Northern California Power Agency, 5.25%, 8/1/24 |
|
|
1,500 |
|
|
|
1,707,585 |
|
| Sacramento Municipal Utility District, 5.00%, 8/15/27 |
|
|
1,335 |
|
|
|
1,528,054 |
|
| Sacramento Municipal Utility District, 5.00%, 8/15/28 |
|
|
1,795 |
|
|
|
2,041,669 |
|
| Southern California Public Power Authority, (Tieton Hydropower), 5.00%, 7/1/35 |
|
|
680 |
|
|
|
758,608 |
|
| Vernon, Electric System Revenue, 5.125%, 8/1/21 |
|
|
1,300 |
|
|
|
1,459,224 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
14,399,490 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| General Obligations — 26.4% |
|
| California, 5.50%, 11/1/35 |
|
$ |
1,600 |
|
|
$ |
1,863,920 |
|
| California, 6.00%, 4/1/38 |
|
|
750 |
|
|
|
886,283 |
|
| California, (AMT), 5.05%, 12/1/36 |
|
|
475 |
|
|
|
479,180 |
|
| Cupertino Union School District, (Election of 2012), 5.00%, 8/1/35 |
|
|
1,000 |
|
|
|
1,125,010 |
|
| Palo Alto, (Election of 2008), 5.00%, 8/1/40 |
|
|
3,655 |
|
|
|
4,023,753 |
|
| San Bernardino Community College District, 4.00%, 8/1/30 |
|
|
2,890 |
|
|
|
3,019,703 |
|
| San Dieguito Union High School District, (Election of 2012), 4.00%, 8/1/30 |
|
|
2,545 |
|
|
|
2,698,336 |
|
| San Jose-Evergreen Community College District, (Election of 2010), 5.00%, 8/1/33 |
|
|
740 |
|
|
|
837,051 |
|
| San Jose-Evergreen Community College District, (Election of 2010), 5.00%, 8/1/35 |
|
|
860 |
|
|
|
963,578 |
|
| San Mateo Union High School District, (Election of 2006), 5.00%, 9/1/27 |
|
|
1,315 |
|
|
|
1,582,405 |
|
| San Mateo Union High School District, (Election of 2006), 5.00%, 9/1/28 |
|
|
2,230 |
|
|
|
2,672,611 |
|
| Santa Clara County, (Election of 2008),
5.00%, 8/1/39(1)(2) |
|
|
3,180 |
|
|
|
3,630,765 |
|
| Torrance Unified School District, (Election of 2008), 5.00%, 8/1/35 |
|
|
2,150 |
|
|
|
2,414,450 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
26,197,045 |
|
| |
|
|
|
|
|
|
|
|
|
| Hospital — 17.3% |
|
| California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/27 |
|
$ |
1,000 |
|
|
$ |
1,122,920 |
|
| California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/28 |
|
|
190 |
|
|
|
211,766 |
|
| California Health Facilities Financing Authority, (Catholic Healthcare West), 5.625%, 7/1/32 |
|
|
1,000 |
|
|
|
1,025,810 |
|
| California Health Facilities Financing Authority, (City of Hope), 5.00%, 11/15/32 |
|
|
635 |
|
|
|
694,474 |
|
| California Health Facilities Financing Authority, (City of Hope), 5.00%, 11/15/35 |
|
|
910 |
|
|
|
987,659 |
|
| California Health Facilities Financing Authority, (Memorial Health Services), 5.00%, 10/1/27 |
|
|
2,000 |
|
|
|
2,277,980 |
|
| California Health Facilities Financing Authority, (Memorial Health Services), 5.00%, 10/1/33 |
|
|
1,000 |
|
|
|
1,095,850 |
|
| California Health Facilities Financing Authority, (Providence Health System), 6.50%, 10/1/38 |
|
|
1,475 |
|
|
|
1,747,462 |
|
| California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/33 |
|
|
1,145 |
|
|
|
1,289,522 |
|
| California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/37 |
|
|
535 |
|
|
|
594,562 |
|
| California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/34 |
|
|
600 |
|
|
|
639,834 |
|
| Torrance, (Torrance Memorial Medical Center), 5.50%, 6/1/31 |
|
|
1,900 |
|
|
|
1,903,686 |
|
| Washington Township Health Care District, 5.00%, 7/1/32 |
|
|
2,780 |
|
|
|
2,854,977 |
|
| Washington Township Health Care District, 5.25%, 7/1/29 |
|
|
700 |
|
|
|
700,721 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
17,147,223 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10 |
|
See Notes to Financial Statements. |
Eaton Vance
California Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Industrial Development Revenue — 1.3% |
|
| California Pollution Control Financing Authority, (Waste Management, Inc.), (AMT), 5.125%, 11/1/23 |
|
$ |
1,235 |
|
|
$ |
1,301,801 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,301,801 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Education — 1.5% |
|
| California Educational Facilities Authority, (Santa Clara University), (NPFG), 5.00%, 9/1/23 |
|
$ |
1,250 |
|
|
$ |
1,496,963 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,496,963 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Electric Utilities — 3.0% |
|
| Glendale, Electric System Revenue, (AGC), 5.00%, 2/1/31 |
|
$ |
2,790 |
|
|
$ |
3,016,213 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,016,213 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Escrowed / Prerefunded —
3.8% |
|
| Foothill/Eastern Transportation Corridor Agency, Toll Road Bonds, (AGM), (RADIAN), Escrowed to Maturity,
0.00%, 1/1/26 |
|
$ |
5,130 |
|
|
$ |
3,777,065 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,777,065 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – General Obligations — 9.3% |
|
| Coast Community College District, (Election of 2002), (AGM), 0.00%, 8/1/34 |
|
$ |
6,485 |
|
|
$ |
2,274,160 |
|
| Coast Community College District, (Election of 2002), (AGM), 0.00%, 8/1/35 |
|
|
4,825 |
|
|
|
1,598,957 |
|
| Riverside Community College District, (Election of 2004), (AGM), (NPFG), 5.00%, 8/1/32 |
|
|
2,005 |
|
|
|
2,223,806 |
|
| Sweetwater Union High School District, (Election of 2000), (AGM), 0.00%, 8/1/25 |
|
|
4,720 |
|
|
|
3,126,905 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
9,223,828 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Hospital — 9.0% |
|
| California Health Facilities Financing Authority, (Kaiser Permanente), (BHAC), 5.00%, 4/1/37 |
|
$ |
2,900 |
|
|
$ |
2,974,240 |
|
| California Statewide Communities Development Authority, (Kaiser Permanente), (BHAC), 5.00%, 3/1/41(1) |
|
|
750 |
|
|
|
795,142 |
|
| California Statewide Communities Development Authority, (Sutter Health), (AMBAC), (BHAC), 5.00%, 11/15/38(1) |
|
|
5,000 |
|
|
|
5,198,250 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,967,632 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Lease Revenue / Certificates of
Participation — 8.2% |
|
| Anaheim Public Financing Authority, (Public Improvements), (AGM), 0.00%, 9/1/17 |
|
$ |
4,410 |
|
|
$ |
4,245,242 |
|
| San Diego County Water Authority, Certificates of Participation, (AGM), 5.00%, 5/1/38(1) |
|
|
3,500 |
|
|
|
3,889,550 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
8,134,792 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Special Tax Revenue — 2.1% |
|
| Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45 |
|
$ |
4,850 |
|
|
$ |
662,462 |
|
| Successor Agency to Dinuba Redevelopment Agency, (BAM), 5.00%, 9/1/28 |
|
|
370 |
|
|
|
415,244 |
|
| Successor Agency to Dinuba Redevelopment Agency, (BAM), 5.00%, 9/1/33 |
|
|
930 |
|
|
|
1,012,844 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,090,550 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Transportation — 11.8% |
|
| Alameda Corridor Transportation Authority, (AMBAC), 0.00%, 10/1/29 |
|
$ |
5,000 |
|
|
$ |
2,379,800 |
|
| Alameda Corridor Transportation Authority, (NPFG), 0.00%, 10/1/31 |
|
|
4,500 |
|
|
|
2,066,400 |
|
| Puerto Rico Highway and Transportation Authority, (AGC), (CIFG), 5.25%, 7/1/41(1)(2) |
|
|
740 |
|
|
|
715,077 |
|
| San Joaquin Hills Transportation Corridor Agency, (NPFG), 0.00%, 1/15/32 |
|
|
10,000 |
|
|
|
3,710,400 |
|
| San Jose Airport, (AGM), (AMBAC), (BHAC), (AMT), 5.00%, 3/1/37 |
|
|
1,275 |
|
|
|
1,315,405 |
|
| San Jose Airport, (AGM), (AMBAC), (BHAC), (AMT), 6.00%, 3/1/47 |
|
|
1,350 |
|
|
|
1,494,990 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,682,072 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Water and Sewer — 4.0% |
|
| East Bay Municipal Utility District, Water System Revenue, (NPFG), 5.00%, 6/1/32(1) |
|
$ |
2,000 |
|
|
$ |
2,208,100 |
|
| Los Angeles Department of Water and Power, (NPFG), 3.00%, 7/1/30 |
|
|
1,830 |
|
|
|
1,771,897 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,979,997 |
|
| |
|
|
|
|
|
|
|
|
|
| Lease Revenue / Certificates of Participation —
1.0% |
|
| California Public Works Board, 5.00%, 11/1/38 |
|
$ |
915 |
|
|
$ |
1,007,708 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,007,708 |
|
| |
|
|
|
|
|
|
|
|
|
| Other Revenue — 0.7% |
|
| California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/32 |
|
$ |
385 |
|
|
$ |
399,572 |
|
| California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/37 |
|
|
315 |
|
|
|
324,630 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
724,202 |
|
| |
|
|
|
|
|
|
|
|
|
| Senior Living / Life Care — 2.5% |
|
| ABAG Finance Authority for Nonprofit Corporations, (Episcopal Senior Communities), 6.00%, 7/1/31 |
|
$ |
290 |
|
|
$ |
324,710 |
|
| California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 4.75%, 11/15/26 |
|
|
175 |
|
|
|
176,977 |
|
|
|
|
|
|
|
|
11 |
|
See Notes to Financial Statements. |
Eaton Vance
California Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Senior Living / Life Care (continued) |
|
| California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 4.875%, 11/15/36 |
|
$ |
700 |
|
|
$ |
699,510 |
|
| California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 7.25%, 11/15/41 |
|
|
600 |
|
|
|
694,122 |
|
| California Statewide Communities Development Authority, (The Redwoods, a Community of Seniors), 5.125%, 11/15/35 |
|
|
535 |
|
|
|
588,864 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,484,183 |
|
| |
|
|
|
|
|
|
|
|
|
| Special Tax Revenue — 13.6% |
|
| Aliso Viejo Community Facilities District No. 2005-01, Special Tax Revenue, (Glenwood at Aliso Viejo),
5.00%, 9/1/30 |
|
$ |
770 |
|
|
$ |
851,920 |
|
| Brentwood Infrastructure Financing Authority, 5.00%, 9/2/26 |
|
|
285 |
|
|
|
293,732 |
|
| Brentwood Infrastructure Financing Authority, 5.00%, 9/2/34 |
|
|
460 |
|
|
|
467,838 |
|
| Corona Public Financing Authority, 5.80%, 9/1/20 |
|
|
925 |
|
|
|
931,050 |
|
| Eastern Municipal Water District, Community Facilities District No. 2004-27, (Cottonwood Ranch), Special Tax Revenue,
5.00%, 9/1/27 |
|
|
190 |
|
|
|
194,309 |
|
| Eastern Municipal Water District, Community Facilities District No. 2004-27, (Cottonwood Ranch), Special Tax Revenue,
5.00%, 9/1/36 |
|
|
480 |
|
|
|
487,296 |
|
| Fontana Redevelopment Agency, (Jurupa Hills), 5.60%, 10/1/27 |
|
|
1,590 |
|
|
|
1,600,271 |
|
| Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/22 |
|
|
240 |
|
|
|
277,181 |
|
| Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/23 |
|
|
480 |
|
|
|
549,365 |
|
| Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/24 |
|
|
240 |
|
|
|
271,481 |
|
| Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/25 |
|
|
335 |
|
|
|
374,540 |
|
| Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/26 |
|
|
240 |
|
|
|
265,978 |
|
| San Francisco Bay Area Rapid Transit District, Sales Tax Revenue, 5.00%, 7/1/28 |
|
|
2,400 |
|
|
|
2,709,264 |
|
| Santaluz Community Facilities District No. 2, 6.10%, 9/1/21 |
|
|
250 |
|
|
|
252,093 |
|
| Santaluz Community Facilities District No. 2, 6.20%, 9/1/30 |
|
|
490 |
|
|
|
492,680 |
|
| South Orange County Public Financing Authority, Special Tax Revenue, (Ladera Ranch), 5.00%, 8/15/27 |
|
|
485 |
|
|
|
542,080 |
|
| South Orange County Public Financing Authority, Special Tax Revenue, (Ladera Ranch), 5.00%, 8/15/28 |
|
|
725 |
|
|
|
807,715 |
|
| Temecula Unified School District, 5.00%, 9/1/27 |
|
|
250 |
|
|
|
255,865 |
|
| Temecula Unified School District, 5.00%, 9/1/37 |
|
|
400 |
|
|
|
408,296 |
|
| Tustin Community Facilities District, 6.00%, 9/1/37 |
|
|
500 |
|
|
|
522,110 |
|
| Whittier Public Financing Authority, (Greenleaf Avenue Redevelopment), 5.50%, 11/1/23 |
|
|
1,000 |
|
|
|
1,001,330 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
13,556,394 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Transportation — 11.6% |
|
| Bay Area Toll Authority, Toll Bridge Revenue, (San Francisco Bay Area), 5.25%, 4/1/29 |
|
$ |
1,000 |
|
|
$ |
1,170,100 |
|
| Bay Area Toll Authority, Toll Bridge Revenue, (San Francisco Bay Area), Prerefunded to 4/1/16, 5.00%, 4/1/31 |
|
|
2,000 |
|
|
|
2,174,680 |
|
| Los Angeles Department of Airports, (Los Angeles International Airport), 5.00%, 5/15/35(1)(2) |
|
|
2,120 |
|
|
|
2,354,748 |
|
| Los Angeles Department of Airports, (Los Angeles International Airport), (AMT), 5.375%, 5/15/30 |
|
|
1,500 |
|
|
|
1,684,095 |
|
| Port of Redwood City, (AMT), 5.125%, 6/1/30 |
|
|
1,170 |
|
|
|
1,173,451 |
|
| San Francisco City and County Airport Commission, (San Francisco International Airport), 5.00%, 5/1/35 |
|
|
2,760 |
|
|
|
2,971,140 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,528,214 |
|
| |
|
|
|
|
|
|
|
|
|
| Water and Sewer — 2.8% |
|
| California Department of Water Resources, 5.00%, 12/1/29 |
|
$ |
740 |
|
|
$ |
846,671 |
|
| San Mateo, Sewer Revenue, 5.00%, 8/1/36 |
|
|
1,700 |
|
|
|
1,880,234 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,726,905 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Tax-Exempt Investments — 162.6%
(identified cost $149,609,439) |
|
|
$ |
161,567,727 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — (50.3)% |
|
|
$ |
(49,976,214 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Other Assets, Less Liabilities — (12.3)% |
|
|
$ |
(12,205,013 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
99,386,500 |
|
| |
|
|
|
|
|
|
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common
shares.
|
|
|
|
|
| AGC |
|
– |
|
Assured Guaranty Corp. |
| AGM |
|
– |
|
Assured Guaranty Municipal Corp. |
| AMBAC |
|
– |
|
AMBAC Financial Group, Inc. |
| AMT |
|
– |
|
Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM |
|
– |
|
Build America Mutual Assurance Co. |
| BHAC |
|
– |
|
Berkshire Hathaway Assurance Corp. |
| CIFG |
|
– |
|
CIFG Assurance North America, Inc. |
| NPFG |
|
– |
|
National Public Finance Guaranty Corp. |
| RADIAN |
|
– |
|
Radian Group, Inc. |
The Trust invests primarily in debt securities issued by California municipalities. The ability of the issuers of the debt
securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2014, 32.4% of total investments are backed
by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual
|
|
|
|
|
|
|
12 |
|
See Notes to Financial Statements. |
Eaton Vance
California Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
financial institution or financial guaranty assurance agency ranged from 0.4% to 14.8% of total investments.
| (1) |
Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1H). |
| (2) |
Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $2,355,589.
|
|
|
|
|
|
|
|
13 |
|
See Notes to Financial Statements. |
Eaton Vance
Massachusetts Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
| Tax-Exempt Investments — 152.3% |
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Bond Bank — 5.9% |
|
| Massachusetts Water Pollution Abatement Trust, 5.25%, 8/1/33 |
|
$ |
910 |
|
|
$ |
1,164,327 |
|
| Massachusetts Water Pollution Abatement Trust, 5.25%, 8/1/34 |
|
|
990 |
|
|
|
1,273,496 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,437,823 |
|
| |
|
|
|
|
|
|
|
|
|
| Education — 30.5% |
|
| Massachusetts Development Finance Agency, (Milton Academy), 5.00%, 9/1/35 |
|
$ |
1,080 |
|
|
$ |
1,183,237 |
|
| Massachusetts Development Finance Agency, (New England Conservatory of Music), 5.25%, 7/1/38 |
|
|
625 |
|
|
|
649,856 |
|
| Massachusetts Development Finance Agency, (Northeastern University), 5.00%, 3/1/33 |
|
|
770 |
|
|
|
860,983 |
|
| Massachusetts Health and Educational Facilities Authority, (Berklee College of Music), 5.00%, 10/1/32 |
|
|
1,500 |
|
|
|
1,652,655 |
|
| Massachusetts Health and Educational Facilities Authority, (Boston College), 5.50%, 6/1/35 |
|
|
1,640 |
|
|
|
2,123,521 |
|
| Massachusetts Health and Educational Facilities Authority, (Harvard University), 5.00%, 10/1/38(1) |
|
|
1,500 |
|
|
|
1,687,935 |
|
| Massachusetts Health and Educational Facilities Authority, (Massachusetts Institute of Technology), 5.00%, 7/1/38 |
|
|
415 |
|
|
|
465,120 |
|
| Massachusetts Health and Educational Facilities Authority, (Northeastern University), 5.00%, 10/1/35 |
|
|
1,350 |
|
|
|
1,468,517 |
|
| Massachusetts Health and Educational Facilities Authority, (Tufts University), 5.375%, 8/15/38 |
|
|
1,420 |
|
|
|
1,617,181 |
|
| University of Massachusetts Building Authority, 5.00%, 11/1/39 |
|
|
750 |
|
|
|
836,325 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
12,545,330 |
|
| |
|
|
|
|
|
|
|
|
|
| General Obligations — 16.4% |
|
| Boston, 4.00%, 4/1/24 |
|
$ |
300 |
|
|
$ |
335,103 |
|
| Cambridge, 4.00%, 2/15/21 |
|
|
595 |
|
|
|
685,184 |
|
| Danvers, 5.25%, 7/1/36 |
|
|
885 |
|
|
|
1,018,246 |
|
| Lexington, 4.00%, 2/1/21 |
|
|
415 |
|
|
|
477,184 |
|
| Lexington, 4.00%, 2/1/22 |
|
|
430 |
|
|
|
496,246 |
|
| Lexington, 4.00%, 2/1/23 |
|
|
355 |
|
|
|
411,395 |
|
| Newton, 5.00%, 4/1/36 |
|
|
750 |
|
|
|
848,325 |
|
| Plymouth, 5.00%, 5/1/31 |
|
|
345 |
|
|
|
387,018 |
|
| Plymouth, 5.00%, 5/1/32 |
|
|
315 |
|
|
|
352,113 |
|
| Wayland, 5.00%, 2/1/33 |
|
|
510 |
|
|
|
578,972 |
|
| Wayland, 5.00%, 2/1/36 |
|
|
770 |
|
|
|
866,643 |
|
| Winchester, 5.00%, 4/15/36 |
|
|
245 |
|
|
|
276,607 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,733,036 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Hospital — 27.0% |
|
| Massachusetts Development Finance Agency, (Berkshire Health Systems), 5.00%, 10/1/31 |
|
$ |
1,000 |
|
|
$ |
1,074,820 |
|
| Massachusetts Development Finance Agency, (Children’s Hospital), 5.00%, 10/1/31 |
|
|
525 |
|
|
|
607,835 |
|
| Massachusetts Development Finance Agency, (Tufts Medical Center), 7.25%, 1/1/32 |
|
|
600 |
|
|
|
730,512 |
|
| Massachusetts Development Finance Agency, (UMass Memorial), 5.50%, 7/1/31 |
|
|
555 |
|
|
|
588,677 |
|
| Massachusetts Health and Educational Facilities Authority, (Baystate Medical Center, Inc.), 5.75%, 7/1/36 |
|
|
1,210 |
|
|
|
1,348,920 |
|
| Massachusetts Health and Educational Facilities Authority, (Children’s Hospital), 5.25%, 12/1/39 |
|
|
500 |
|
|
|
554,935 |
|
| Massachusetts Health and Educational Facilities Authority, (Dana-Farber Cancer Institute), 5.00%, 12/1/37 |
|
|
1,135 |
|
|
|
1,195,688 |
|
| Massachusetts Health and Educational Facilities Authority, (Jordan Hospital), 6.75%, 10/1/33 |
|
|
755 |
|
|
|
755,672 |
|
| Massachusetts Health and Educational Facilities Authority, (Lowell General Hospital), 5.125%, 7/1/35 |
|
|
970 |
|
|
|
1,010,837 |
|
| Massachusetts Health and Educational Facilities Authority, (Partners Healthcare Systems), 5.00%, 7/1/32 |
|
|
2,000 |
|
|
|
2,182,760 |
|
| Massachusetts Health and Educational Facilities Authority, (South Shore Hospital), 5.75%, 7/1/29 |
|
|
675 |
|
|
|
677,923 |
|
| Massachusetts Health and Educational Facilities Authority, (Southcoast Health System), 5.00%, 7/1/29 |
|
|
350 |
|
|
|
374,087 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,102,666 |
|
| |
|
|
|
|
|
|
|
|
|
| Housing — 6.7% |
|
| Massachusetts Housing Finance Agency, (AMT), 4.75%, 12/1/48 |
|
$ |
2,100 |
|
|
$ |
2,101,617 |
|
| Massachusetts Housing Finance Agency, (AMT), 5.00%, 12/1/28 |
|
|
650 |
|
|
|
657,254 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,758,871 |
|
| |
|
|
|
|
|
|
|
|
|
| Industrial Development Revenue — 2.0% |
|
| Massachusetts Development Finance Agency, (Covanta Energy), (AMT), 4.875%, 11/1/27 |
|
$ |
800 |
|
|
$ |
806,232 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
806,232 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Education — 7.2% |
|
| Massachusetts College Building Authority, (XLCA), 5.50%, 5/1/39 |
|
$ |
1,000 |
|
|
$ |
1,271,110 |
|
| Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32(1)(2) |
|
|
1,365 |
|
|
|
1,696,709 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,967,819 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14 |
|
See Notes to Financial Statements. |
Eaton Vance
Massachusetts Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Electric Utilities — 1.3% |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29 |
|
$ |
550 |
|
|
$ |
546,013 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
546,013 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – General Obligations — 3.2% |
|
| Massachusetts, (AMBAC), 5.50%, 8/1/30 |
|
$ |
1,000 |
|
|
$ |
1,305,600 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,305,600 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Hospital — 0.9% |
|
| Massachusetts Health and Educational Facilities Authority, (Cape Cod Healthcare), (AGC), 5.00%, 11/15/25 |
|
$ |
335 |
|
|
$ |
368,544 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
368,544 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Other Revenue — 1.8% |
|
| Massachusetts Development Finance Agency, (WGBH Educational Foundation), (AMBAC), 5.75%, 1/1/42 |
|
$ |
590 |
|
|
$ |
724,219 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
724,219 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Special Tax Revenue — 10.5% |
|
| Martha’s Vineyard Land Bank, (AMBAC), 5.00%, 5/1/32 |
|
$ |
1,450 |
|
|
$ |
1,455,350 |
|
| Massachusetts, Special Obligation, Dedicated Tax Revenue, (NPFG), 5.50%, 1/1/29 |
|
|
1,000 |
|
|
|
1,240,550 |
|
| Massachusetts School Building Authority, Dedicated Sales Tax Revenue, (AMBAC), 5.00%, 8/15/37(1) |
|
|
1,340 |
|
|
|
1,470,543 |
|
| Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45 |
|
|
1,105 |
|
|
|
150,932 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,317,375 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Student Loan — 2.9% |
|
| Massachusetts Educational Financing Authority, (AGC), (AMT), 6.35%, 1/1/30 |
|
$ |
300 |
|
|
$ |
324,417 |
|
| Massachusetts Educational Financing Authority, (AMBAC), (AMT), 4.70%, 1/1/33 |
|
|
850 |
|
|
|
858,492 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,182,909 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Transportation — 0.8% |
|
| Massachusetts Port Authority, (Bosfuel Project), (NPFG), (AMT), 5.00%, 7/1/32 |
|
$ |
315 |
|
|
$ |
325,852 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
325,852 |
|
| |
|
|
|
|
|
|
|
|
|
| Other Revenue — 2.8% |
|
| Massachusetts Health and Educational Facilities Authority, (Isabella Stewart Gardner Museum), 5.00%, 5/1/22 |
|
$ |
500 |
|
|
$ |
573,155 |
|
| Massachusetts Health and Educational Facilities Authority, (Isabella Stewart Gardner Museum), 5.00%, 5/1/25 |
|
|
505 |
|
|
|
574,811 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,147,966 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Senior Living / Life Care — 6.0% |
|
| Massachusetts Development Finance Agency, (Berkshire Retirement Community, Inc.), 5.15%, 7/1/31 |
|
$ |
250 |
|
|
$ |
250,015 |
|
| Massachusetts Development Finance Agency, (Berkshire Retirement Community, Inc.), 5.625%, 7/1/29 |
|
|
1,500 |
|
|
|
1,500,885 |
|
| Massachusetts Development Finance Agency, (Carleton-Willard Village), 5.625%, 12/1/30 |
|
|
125 |
|
|
|
135,072 |
|
| Massachusetts Development Finance Agency, (VOA Concord Assisted Living, Inc.), 5.125%, 11/1/27 |
|
|
140 |
|
|
|
136,157 |
|
| Massachusetts Development Finance Agency, (VOA Concord Assisted Living, Inc.), 5.20%, 11/1/41 |
|
|
475 |
|
|
|
427,215 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,449,344 |
|
| |
|
|
|
|
|
|
|
|
|
| Special Tax Revenue — 8.3% |
|
| Massachusetts Bay Transportation Authority, 5.25%, 7/1/34 |
|
$ |
140 |
|
|
$ |
160,612 |
|
| Massachusetts Bay Transportation Authority, Sales Tax Revenue, 0.00%, 7/1/31 |
|
|
1,665 |
|
|
|
776,456 |
|
| Massachusetts Bay Transportation Authority, Sales Tax Revenue, 0.00%, 7/1/34 |
|
|
5,195 |
|
|
|
2,081,948 |
|
| Virgin Islands Public Finance Authority, 6.75%, 10/1/37 |
|
|
335 |
|
|
|
372,728 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,391,744 |
|
| |
|
|
|
|
|
|
|
|
|
| Transportation — 7.1% |
|
| Massachusetts Department of Transportation, (Metropolitan Highway System), 5.00%, 1/1/37 |
|
$ |
1,500 |
|
|
$ |
1,608,900 |
|
| Massachusetts Port Authority, 5.00%, 7/1/28 |
|
|
500 |
|
|
|
576,960 |
|
| Massachusetts Port Authority, 5.00%, 7/1/34 |
|
|
670 |
|
|
|
745,120 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,930,980 |
|
| |
|
|
|
|
|
|
|
|
|
| Water and Sewer — 11.0% |
|
| Boston Water and Sewer Commission, 5.00%, 11/1/26 |
|
$ |
2,005 |
|
|
$ |
2,316,837 |
|
| Boston Water and Sewer Commission, 5.00%, 11/1/29 |
|
|
495 |
|
|
|
574,576 |
|
| Boston Water and Sewer Commission, 5.00%, 11/1/31 |
|
|
225 |
|
|
|
253,861 |
|
| Massachusetts Water Resources Authority, 5.00%, 8/1/28 |
|
|
1,195 |
|
|
|
1,382,221 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,527,495 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Tax-Exempt Investments — 152.3%
(identified cost $57,619,539) |
|
|
$ |
62,569,818 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — (48.8)% |
|
|
$ |
(20,050,361 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Other Assets, Less Liabilities — (3.5)% |
|
|
$ |
(1,439,136 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
41,080,321 |
|
| |
|
|
|
|
|
|
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common
shares.
|
|
|
|
|
|
|
15 |
|
See Notes to Financial Statements. |
Eaton Vance
Massachusetts Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
| AGC |
|
– |
|
Assured Guaranty Corp. |
| AMBAC |
|
– |
|
AMBAC Financial Group, Inc. |
| AMT |
|
– |
|
Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| NPFG |
|
– |
|
National Public Finance Guaranty Corp. |
| XLCA |
|
– |
|
XL Capital Assurance, Inc. |
The Trust invests primarily in debt securities issued by Massachusetts municipalities. The ability of the issuers of the debt
securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2014, 18.8% of total investments are backed
by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 1.1% to 12.0% of total
investments.
| (1) |
Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1H). |
| (2) |
Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $786,709.
|
|
|
|
|
|
|
|
16 |
|
See Notes to Financial Statements. |
Eaton Vance
Michigan Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
| Tax-Exempt Investments — 156.0% |
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Bond Bank — 4.2% |
|
| Michigan Municipal Bond Authority, 5.00%, 10/1/29 |
|
$ |
600 |
|
|
$ |
679,380 |
|
| Michigan Municipal Bond Authority, 5.00%, 10/1/30 |
|
|
500 |
|
|
|
582,620 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,262,000 |
|
| |
|
|
|
|
|
|
|
|
|
| Education — 14.5% |
|
| Grand Valley State University, 5.625%, 12/1/29 |
|
$ |
525 |
|
|
$ |
574,770 |
|
| Grand Valley State University, 5.75%, 12/1/34 |
|
|
525 |
|
|
|
575,201 |
|
| Michigan State University, 5.00%, 2/15/40 |
|
|
1,000 |
|
|
|
1,080,990 |
|
| Michigan State University, 5.00%, 2/15/44 |
|
|
460 |
|
|
|
496,262 |
|
| Michigan Technological University, 4.00%, 10/1/36 |
|
|
700 |
|
|
|
704,585 |
|
| Oakland University, 5.00%, 3/1/42 |
|
|
500 |
|
|
|
530,110 |
|
| Wayne State University, 5.00%, 11/15/40 |
|
|
370 |
|
|
|
400,558 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,362,476 |
|
| |
|
|
|
|
|
|
|
|
|
| Electric Utilities — 8.8% |
|
| Holland, Electric Utility System, 5.00%, 7/1/39 |
|
$ |
1,135 |
|
|
$ |
1,245,095 |
|
| Lansing Board of Water and Light, 5.50%, 7/1/41 |
|
|
500 |
|
|
|
582,195 |
|
| Michigan Public Power Agency, 5.00%, 1/1/43 |
|
|
800 |
|
|
|
844,104 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,671,394 |
|
| |
|
|
|
|
|
|
|
|
|
| Escrowed / Prerefunded — 1.1% |
|
| Gaylord Hospital Finance Authority, (Otsego Memorial Hospital Association), Prerefunded to 1/1/15, 6.20%, 1/1/25 |
|
$ |
185 |
|
|
$ |
191,448 |
|
| Gaylord Hospital Finance Authority, (Otsego Memorial Hospital Association), Prerefunded to 1/1/15, 6.50%, 1/1/37 |
|
|
125 |
|
|
|
129,576 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
321,024 |
|
| |
|
|
|
|
|
|
|
|
|
| General Obligations — 31.4% |
|
| Ann Arbor Public Schools, 4.50%, 5/1/24 |
|
$ |
350 |
|
|
$ |
370,891 |
|
| Bloomfield Hills Schools, 4.00%, 5/1/37 |
|
|
655 |
|
|
|
677,604 |
|
| Comstock Park Public Schools, 5.00%, 5/1/28 |
|
|
230 |
|
|
|
255,887 |
|
| Comstock Park Public Schools, 5.125%, 5/1/31 |
|
|
275 |
|
|
|
299,860 |
|
| Comstock Park Public Schools, 5.25%, 5/1/33 |
|
|
220 |
|
|
|
242,548 |
|
| HealthSource Saginaw, Inc., Saginaw County, 4.00%, 5/1/29 |
|
|
500 |
|
|
|
522,965 |
|
| Howell Public Schools, 4.50%, 5/1/29 |
|
|
620 |
|
|
|
675,298 |
|
| Jenison Public Schools, 5.00%, 5/1/28 |
|
|
500 |
|
|
|
544,920 |
|
| Jenison Public Schools, 5.00%, 5/1/30 |
|
|
500 |
|
|
|
540,455 |
|
| Kent County, 5.00%, 1/1/25 |
|
|
1,500 |
|
|
|
1,715,700 |
|
| Kent County, (AMT), 5.00%, 1/1/28 |
|
|
1,000 |
|
|
|
1,117,660 |
|
| Lansing Community College, 5.00%, 5/1/30 |
|
|
1,005 |
|
|
|
1,130,273 |
|
| Livingston County, 4.00%, 6/1/30 |
|
|
305 |
|
|
|
318,707 |
|
| Michigan, 5.50%, 11/1/25 |
|
|
270 |
|
|
|
311,153 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| General Obligations (continued) |
|
| St. Clair County, (Convention Center), 3.75%, 4/1/42 |
|
$ |
375 |
|
|
$ |
344,906 |
|
| Walled Lake Consolidated School District, 5.00%, 5/1/34 |
|
|
365 |
|
|
|
404,738 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
9,473,565 |
|
| |
|
|
|
|
|
|
|
|
|
| Hospital — 26.4% |
|
| Kent Hospital Finance Authority, (Spectrum Health), 5.50% to 1/15/15 (Put Date), 1/15/47 |
|
$ |
275 |
|
|
$ |
283,891 |
|
| Michigan Finance Authority, (McLaren Health Care), 5.00%, 6/1/35 |
|
|
250 |
|
|
|
269,730 |
|
| Michigan Finance Authority, (Oakwood Obligated Group), 5.00%, 11/1/32 |
|
|
500 |
|
|
|
532,485 |
|
| Michigan Finance Authority, (Trinity Health Corp.), 5.00%, 12/1/27 |
|
|
1,000 |
|
|
|
1,118,930 |
|
| Michigan Hospital Finance Authority, (Henry Ford Health System), 5.00%, 11/15/38 |
|
|
250 |
|
|
|
259,503 |
|
| Michigan Hospital Finance Authority, (Henry Ford Health System), 5.25%, 11/15/46 |
|
|
1,000 |
|
|
|
1,014,870 |
|
| Michigan Hospital Finance Authority, (McLaren Health Care), 5.00%, 8/1/35 |
|
|
1,080 |
|
|
|
1,095,066 |
|
| Michigan Hospital Finance Authority, (MidMichigan Obligated Group), 6.125%, 6/1/39 |
|
|
500 |
|
|
|
565,020 |
|
| Monroe County Hospital Finance Authority, (Mercy Memorial Hospital Corp.), 5.375%, 6/1/26 |
|
|
425 |
|
|
|
434,690 |
|
| Royal Oak Hospital Finance Authority, (William Beaumont Hospital), 5.00%, 9/1/39 |
|
|
1,250 |
|
|
|
1,345,862 |
|
| Saginaw Hospital Finance Authority, (Covenant Medical Center, Inc.), 5.00%, 7/1/30 |
|
|
1,000 |
|
|
|
1,059,050 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,979,097 |
|
| |
|
|
|
|
|
|
|
|
|
| Housing — 0.8% |
|
| Michigan Housing Development Authority, 4.60%, 12/1/26 |
|
$ |
225 |
|
|
$ |
235,026 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
235,026 |
|
| |
|
|
|
|
|
|
|
|
|
| Industrial Development Revenue — 2.4% |
|
| Detroit Local Development Finance Authority, (Chrysler Corp.), 5.375%, 5/1/21 |
|
$ |
750 |
|
|
$ |
714,960 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
714,960 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Education — 5.0% |
|
| Ferris State University, (AGC), 5.125%, 10/1/33 |
|
$ |
570 |
|
|
$ |
633,509 |
|
| Ferris State University, (AGC), 5.25%, 10/1/38 |
|
|
500 |
|
|
|
559,485 |
|
| Wayne State University, (AGM), 5.00%, 11/15/35 |
|
|
300 |
|
|
|
330,003 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,522,997 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
17 |
|
See Notes to Financial Statements. |
Eaton Vance
Michigan Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Electric Utilities — 3.4% |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29 |
|
$ |
630 |
|
|
$ |
625,432 |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/32 |
|
|
250 |
|
|
|
247,397 |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34 |
|
|
155 |
|
|
|
152,164 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,024,993 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – General Obligations — 21.4% |
|
| Battle Creek School District, (AGM), 5.00%, 5/1/37 |
|
$ |
1,105 |
|
|
$ |
1,199,256 |
|
| Bay City Brownfield Redevelopment Authority, (BAM), 5.375%, 10/1/38 |
|
|
500 |
|
|
|
543,550 |
|
| Byron Center Public Schools, (AGM), 3.75%, 5/1/26 |
|
|
150 |
|
|
|
155,194 |
|
| Byron Center Public Schools, (AGM), 4.00%, 5/1/28 |
|
|
240 |
|
|
|
248,578 |
|
| Detroit School District, (AGM), 5.25%, 5/1/32 |
|
|
300 |
|
|
|
343,680 |
|
| Hartland Consolidated Schools, (AGM), 5.25%, 5/1/29 |
|
|
1,000 |
|
|
|
1,121,590 |
|
| Livonia Public Schools, (AGM), 5.00%, 5/1/43 |
|
|
910 |
|
|
|
971,689 |
|
| Van Dyke Public Schools, (AGM), 5.00%, 5/1/38 |
|
|
1,250 |
|
|
|
1,353,650 |
|
| Westland Tax Increment Finance Authority, (BAM), 5.25%, 4/1/34 |
|
|
500 |
|
|
|
532,880 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,470,067 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Lease Revenue / Certificates of
Participation — 5.8% |
|
| Michigan Building Authority, (AGM), (FGIC), 0.00%, 10/15/29 |
|
$ |
1,000 |
|
|
$ |
486,820 |
|
| Michigan Building Authority, (NPFG), 0.00%, 10/15/30 |
|
|
2,800 |
|
|
|
1,271,088 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,757,908 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Special Tax Revenue — 0.4% |
|
| Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45 |
|
$ |
895 |
|
|
$ |
122,248 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
122,248 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Transportation — 3.7% |
|
| Wayne County Airport Authority, (AGC), (AMT), 5.375%, 12/1/32 |
|
$ |
1,000 |
|
|
$ |
1,124,620 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,124,620 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Water and Sewer — 11.0% |
|
|
|
|
|
|
|
|
| Detroit, Sewage Disposal System, (AGC), (FGIC), 5.00%, 7/1/36 |
|
$ |
560 |
|
|
$ |
555,167 |
|
| Detroit, Water Supply System, (NPFG), 5.00%, 7/1/30 |
|
|
1,650 |
|
|
|
1,649,885 |
|
| Grand Rapids, Water Supply System, (AGC), 5.10%, 1/1/39 |
|
|
1,000 |
|
|
|
1,108,500 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,313,552 |
|
| |
|
|
|
|
|
|
|
|
|
| Lease Revenue / Certificates of Participation —
4.3% |
|
| Michigan Strategic Fund, (Facility for Rare Isotope Beams), 4.00%, 3/1/30 |
|
$ |
1,250 |
|
|
$ |
1,287,125 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,287,125 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Special Tax Revenue — 5.0% |
|
| Guam, Limited Obligation Bonds, 5.625%, 12/1/29 |
|
$ |
115 |
|
|
$ |
126,140 |
|
| Guam, Limited Obligation Bonds, 5.75%, 12/1/34 |
|
|
125 |
|
|
|
136,904 |
|
| Michigan Trunk Line Fund, 5.00%, 11/15/36 |
|
|
1,000 |
|
|
|
1,112,690 |
|
| Virgin Islands Public Finance Authority, 6.75%, 10/1/37 |
|
|
110 |
|
|
|
122,388 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,498,122 |
|
| |
|
|
|
|
|
|
|
|
|
| Water and Sewer — 6.4% |
|
| Detroit, Water Supply System, 5.25%, 7/1/41 |
|
$ |
750 |
|
|
$ |
746,205 |
|
| Grand Rapids, Sanitary Sewer System, 5.00%, 1/1/28 |
|
|
735 |
|
|
|
911,496 |
|
| Port Huron, Water Supply System, 5.25%, 10/1/31 |
|
|
250 |
|
|
|
270,757 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,928,458 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Tax-Exempt Investments — 156.0%
(identified cost $44,391,817) |
|
|
$ |
47,069,632 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — (58.0)% |
|
|
$ |
(17,500,189 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Other Assets, Less Liabilities — 2.0% |
|
|
$ |
611,995 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
30,181,438 |
|
| |
|
|
|
|
|
|
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common
shares.
|
|
|
|
|
| AGC |
|
– |
|
Assured Guaranty Corp. |
| AGM |
|
– |
|
Assured Guaranty Municipal Corp. |
| AMT |
|
– |
|
Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM |
|
– |
|
Build America Mutual Assurance Co. |
| FGIC |
|
– |
|
Financial Guaranty Insurance Company |
| NPFG |
|
– |
|
National Public Finance Guaranty Corp. |
The Trust invests primarily in debt securities issued by Michigan municipalities. The ability of the issuers of the debt securities
to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2014, 32.6% of total investments are backed by bond
insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 2.2% to 13.2% of total investments.
|
|
|
|
|
|
|
18 |
|
See Notes to Financial Statements. |
Eaton Vance
New Jersey Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
| Tax-Exempt Municipal Securities — 153.2% |
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Education — 22.5% |
|
| Camden County Improvement Authority, (Rowan University School of Osteopathic Medicine), 5.00%, 12/1/32 |
|
$ |
1,270 |
|
|
$ |
1,402,867 |
|
| New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/27 |
|
|
250 |
|
|
|
260,168 |
|
| New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/33 |
|
|
250 |
|
|
|
256,635 |
|
| New Jersey Educational Facilities Authority, (Georgian Court University), 5.25%, 7/1/37 |
|
|
220 |
|
|
|
226,453 |
|
| New Jersey Educational Facilities Authority, (Kean University), 5.50%, 9/1/36 |
|
|
1,730 |
|
|
|
1,969,432 |
|
| New Jersey Educational Facilities Authority, (Montclair State University), 5.00%, 7/1/33 |
|
|
620 |
|
|
|
704,940 |
|
| New Jersey Educational Facilities Authority, (Montclair State University), 5.00%, 7/1/34 |
|
|
380 |
|
|
|
431,365 |
|
| New Jersey Educational Facilities Authority, (Ramapo College), 5.00%, 7/1/37 |
|
|
640 |
|
|
|
696,499 |
|
| New Jersey Educational Facilities Authority, (Stevens Institute of Technology), 5.00%, 7/1/27 |
|
|
1,650 |
|
|
|
1,717,105 |
|
| New Jersey Educational Facilities Authority, (University of Medicine and Dentistry), Prerefunded to 6/1/19,
7.50%, 12/1/32 |
|
|
965 |
|
|
|
1,260,425 |
|
| New Jersey Institute of Technology, 5.00%, 7/1/42 |
|
|
1,295 |
|
|
|
1,411,213 |
|
| Rutgers State University, 5.00%, 5/1/33 |
|
|
1,000 |
|
|
|
1,135,780 |
|
| Rutgers State University, 5.00%, 5/1/39 |
|
|
2,900 |
|
|
|
3,231,035 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
14,703,917 |
|
| |
|
|
|
|
|
|
|
|
|
| Electric Utilities — 0.8% |
|
| Puerto Rico Electric Power Authority, 5.25%, 7/1/27 |
|
$ |
865 |
|
|
$ |
550,547 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
550,547 |
|
| |
|
|
|
|
|
|
|
|
|
| Escrowed / Prerefunded — 2.7% |
|
| New Jersey Health Care Facilities Financing Authority, (Chilton Memorial Hospital), Prerefunded to 7/1/19,
5.75%, 7/1/39 |
|
$ |
1,415 |
|
|
$ |
1,732,116 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,732,116 |
|
| |
|
|
|
|
|
|
|
|
|
| General Obligations — 7.8% |
|
| Burlington County Bridge Commission, 4.00%, 8/15/23 |
|
$ |
320 |
|
|
$ |
351,040 |
|
| Monmouth County Improvement Authority, 5.00%, 1/15/28 |
|
|
1,850 |
|
|
|
2,120,322 |
|
| Monmouth County Improvement Authority, 5.00%, 1/15/30 |
|
|
1,795 |
|
|
|
2,045,618 |
|
| Monmouth County Improvement Authority, 5.00%, 8/1/33 |
|
|
500 |
|
|
|
574,225 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,091,205 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Hospital — 21.9% |
|
| Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/34 |
|
$ |
1,335 |
|
|
$ |
1,342,676 |
|
| Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/42 |
|
|
650 |
|
|
|
710,404 |
|
| New Jersey Health Care Facilities Financing Authority, (AHS Hospital Corp.), 5.00%, 7/1/27 |
|
|
2,290 |
|
|
|
2,481,810 |
|
| New Jersey Health Care Facilities Financing Authority, (Atlanticare Regional Medical Center), 5.00%, 7/1/37 |
|
|
2,090 |
|
|
|
2,208,796 |
|
| New Jersey Health Care Facilities Financing Authority, (Meridian Health System), 5.00%, 7/1/21 |
|
|
645 |
|
|
|
755,289 |
|
| New Jersey Health Care Facilities Financing Authority, (Meridian Health System), 5.00%, 7/1/26 |
|
|
620 |
|
|
|
694,257 |
|
| New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), 5.25%, 7/1/31 |
|
|
250 |
|
|
|
271,223 |
|
| New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), 5.00%, 7/1/31 |
|
|
2,055 |
|
|
|
2,193,980 |
|
| New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/46 |
|
|
2,440 |
|
|
|
2,484,872 |
|
| New Jersey Health Care Facilities Financing Authority, (Virtua Health), 5.75%, 7/1/33 |
|
|
1,075 |
|
|
|
1,185,714 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
14,329,021 |
|
| |
|
|
|
|
|
|
|
|
|
| Housing — 2.5% |
|
| New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 4.70%, 10/1/37 |
|
$ |
590 |
|
|
$ |
596,679 |
|
| New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 5.00%, 10/1/37 |
|
|
1,050 |
|
|
|
1,066,873 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,663,552 |
|
| |
|
|
|
|
|
|
|
|
|
| Industrial Development Revenue — 5.6% |
|
| New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.125%, 9/15/23 |
|
$ |
50 |
|
|
$ |
51,373 |
|
| New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.25%, 9/15/29 |
|
|
135 |
|
|
|
139,852 |
|
| New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.50%, 6/1/33 |
|
|
750 |
|
|
|
790,785 |
|
| New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 5.10%, 6/1/23 |
|
|
220 |
|
|
|
249,223 |
|
| New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 5.70%, 10/1/39 |
|
|
2,235 |
|
|
|
2,448,062 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,679,295 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Electric Utilities — 1.8% |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29 |
|
$ |
135 |
|
|
$ |
134,021 |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34 |
|
|
490 |
|
|
|
481,033 |
|
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/35 |
|
|
595 |
|
|
|
583,814 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,198,868 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19 |
|
See Notes to Financial Statements. |
Eaton Vance
New Jersey Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Escrowed / Prerefunded —
1.8% |
|
| New Jersey Economic Development Authority, (School Facilities Construction), (AGC), Prerefunded to 12/15/18,
5.50%, 12/15/34 |
|
$ |
970 |
|
|
$ |
1,164,514 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,164,514 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Gas Utilities — 5.7% |
|
| New Jersey Economic Development Authority, (New Jersey Natural Gas Co.), (NPFG), (AMT), 4.90% to 10/1/25 (Put Date),
10/1/40 |
|
$ |
3,540 |
|
|
$ |
3,741,497 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,741,497 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – General Obligations — 5.1% |
|
| Hudson County Improvement Authority, (Harrison Parking), (AGC), 5.25%, 1/1/39 |
|
$ |
1,015 |
|
|
$ |
1,092,526 |
|
| Lakewood Township, (AGC), 5.75%, 11/1/31 |
|
|
1,240 |
|
|
|
1,384,386 |
|
| Paterson, (BAM), 5.00%, 1/15/26 |
|
|
750 |
|
|
|
846,292 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,323,204 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Hospital — 4.2% |
|
| New Jersey Economic Development Authority, (Hillcrest Health Service System), (AMBAC), 0.00%, 1/1/20 |
|
$ |
100 |
|
|
$ |
85,190 |
|
| New Jersey Economic Development Authority, (Hillcrest Health Service System), (AMBAC), 0.00%, 1/1/21 |
|
|
300 |
|
|
|
243,240 |
|
| New Jersey Health Care Facilities Financing Authority, (Meridian Health System), Series II, (AGC), 5.00%, 7/1/38 |
|
|
385 |
|
|
|
406,348 |
|
| New Jersey Health Care Facilities Financing Authority, (Meridian Health System), Series V, (AGC), 5.00%, 7/1/38(1) |
|
|
500 |
|
|
|
527,725 |
|
| New Jersey Health Care Facilities Financing Authority, (Virtua Health), (AGC), 5.50%, 7/1/38 |
|
|
1,380 |
|
|
|
1,494,816 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,757,319 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Industrial Development Revenue —
3.1% |
|
| New Jersey Economic Development Authority, (United Water New Jersey, Inc.), (AMBAC), (AMT), 4.875%, 11/1/25 |
|
$ |
1,940 |
|
|
$ |
2,043,809 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,043,809 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Lease Revenue / Certificates of
Participation — 2.8% |
|
| New Jersey Economic Development Authority, (School Facilities Construction), (AGC), 5.50%, 12/15/34 |
|
$ |
530 |
|
|
$ |
604,698 |
|
| New Jersey Economic Development Authority, (School Facilities Construction), (NPFG), 5.50%, 9/1/28 |
|
|
1,000 |
|
|
|
1,234,960 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,839,658 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Other Revenue — 3.1% |
|
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.00%, 1/1/31 |
|
$ |
850 |
|
|
$ |
922,743 |
|
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.125%, 1/1/39 |
|
|
1,000 |
|
|
|
1,078,890 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,001,633 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Special Tax Revenue — 12.1% |
|
| Garden State Preservation Trust, (AGM), 0.00%, 11/1/25 |
|
$ |
5,250 |
|
|
$ |
3,775,327 |
|
| New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/26 |
|
|
4,300 |
|
|
|
2,681,781 |
|
| New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/27 |
|
|
2,020 |
|
|
|
1,193,800 |
|
| Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45 |
|
|
2,020 |
|
|
|
275,912 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
7,926,820 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Student Loan — 3.7% |
|
| New Jersey Higher Education Student Assistance Authority, (AGC), (AMT), 6.125%, 6/1/30 |
|
$ |
2,215 |
|
|
$ |
2,419,600 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,419,600 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Transportation — 0.5% |
|
| South Jersey Transportation Authority, (AGC), 5.50%, 11/1/33 |
|
$ |
315 |
|
|
$ |
351,524 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
351,524 |
|
| |
|
|
|
|
|
|
|
|
|
| Lease Revenue / Certificates of Participation —
5.7% |
|
| New Jersey Economic Development Authority, (School Facilities Construction), 5.25%, 12/15/33 |
|
$ |
1,500 |
|
|
$ |
1,638,810 |
|
| New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), 5.25%, 10/1/38 |
|
|
1,700 |
|
|
|
1,800,385 |
|
| New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), 5.75%, 10/1/31 |
|
|
250 |
|
|
|
290,377 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,729,572 |
|
| |
|
|
|
|
|
|
|
|
|
| Other Revenue — 5.9% |
|
| Children’s Trust Fund, PR, Tobacco Settlement, 0.00%, 5/15/55 |
|
$ |
13,280 |
|
|
$ |
348,998 |
|
| New Jersey Economic Development Authority, (Duke Farms Foundation), 5.00%, 7/1/48 |
|
|
2,040 |
|
|
|
2,250,324 |
|
| New Jersey Economic Development Authority, (The Seeing Eye, Inc.), 5.00%, 6/1/32 |
|
|
500 |
|
|
|
535,545 |
|
| Tobacco Settlement Financing Corp., 5.00%, 6/1/41 |
|
|
900 |
|
|
|
711,099 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,845,966 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20 |
|
See Notes to Financial Statements. |
Eaton Vance
New Jersey Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Senior Living / Life Care — 4.3% |
|
| New Jersey Economic Development Authority, (Cranes Mill, Inc.), 5.875%, 7/1/28 |
|
$ |
465 |
|
|
$ |
487,539 |
|
| New Jersey Economic Development Authority, (Cranes Mill, Inc.), 6.00%, 7/1/38 |
|
|
770 |
|
|
|
801,270 |
|
| New Jersey Economic Development Authority, (Seabrook Village), 5.25%, 11/15/36 |
|
|
815 |
|
|
|
821,324 |
|
| New Jersey Economic Development Authority, (United Methodist Homes of New Jersey), 4.50%, 7/1/38 |
|
|
700 |
|
|
|
697,935 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,808,068 |
|
| |
|
|
|
|
|
|
|
|
|
| Special Tax Revenue — 2.9% |
|
| New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/27 |
|
$ |
100 |
|
|
$ |
103,858 |
|
| New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/37 |
|
|
175 |
|
|
|
179,172 |
|
| Puerto Rico Sales Tax Financing Corp., 5.00%, 8/1/40 |
|
|
750 |
|
|
|
651,548 |
|
| Puerto Rico Sales Tax Financing Corp., 5.75%, 8/1/37 |
|
|
500 |
|
|
|
424,755 |
|
| Virgin Islands Public Finance Authority, 6.75%, 10/1/37 |
|
|
500 |
|
|
|
556,310 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,915,643 |
|
| |
|
|
|
|
|
|
|
|
|
| Student Loan — 5.0% |
|
| New Jersey Higher Education Student Assistance Authority, (AMT), 1.186%, 6/1/36(1)(2)(3) |
|
$ |
2,500 |
|
|
$ |
2,525,125 |
|
| New Jersey Higher Education Student Assistance Authority, (AMT), 4.75%, 12/1/43 |
|
|
740 |
|
|
|
743,337 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,268,462 |
|
| |
|
|
|
|
|
|
|
|
|
| Transportation — 19.5% |
|
| Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/35 |
|
$ |
1,060 |
|
|
$ |
1,144,758 |
|
| Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/40 |
|
|
1,080 |
|
|
|
1,153,894 |
|
| New Jersey Transportation Trust Fund Authority, (Transportation System), 0.00%, 12/15/26 |
|
|
2,000 |
|
|
|
1,219,080 |
|
| New Jersey Transportation Trust Fund Authority, (Transportation System), 5.50%, 6/15/31 |
|
|
1,850 |
|
|
|
2,121,987 |
|
| New Jersey Transportation Trust Fund Authority, (Transportation System), 5.875%, 12/15/38 |
|
|
250 |
|
|
|
292,802 |
|
| New Jersey Transportation Trust Fund Authority, (Transportation System), 6.00%, 12/15/38 |
|
|
530 |
|
|
|
626,905 |
|
| New Jersey Turnpike Authority, 5.25%, 1/1/40 |
|
|
3,600 |
|
|
|
3,994,236 |
|
| Port Authority of New York and New Jersey, (AMT),
5.75%, 3/15/35(1) |
|
|
1,995 |
|
|
|
2,202,580 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
12,756,242 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Water and Sewer — 2.2% |
|
| North Hudson Sewerage Authority, 5.00%, 6/1/29 |
|
$ |
1,275 |
|
|
$ |
1,431,596 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,431,596 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Tax-Exempt Municipal Securities — 153.2%
(identified cost $93,050,642) |
|
|
$ |
100,273,648 |
|
| |
|
|
|
|
|
|
|
|
|
| Taxable Municipal Securities — 1.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
| Transportation — 1.6% |
|
|
|
|
|
|
|
|
| Port Authority of New York and New Jersey, 4.458%, 10/1/62 |
|
$ |
1,000 |
|
|
$ |
1,007,500 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Taxable Municipal Securities — 1.6%
(identified cost $989,095) |
|
|
$ |
1,007,500 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Investments — 154.8%
(identified cost $94,039,737) |
|
|
$ |
101,281,148 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — (51.1)% |
|
|
$ |
(33,425,812 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Other Assets, Less Liabilities — (3.7)% |
|
|
$ |
(2,415,214 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
65,440,122 |
|
| |
|
|
|
|
|
|
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common
shares.
|
|
|
|
|
| AGC |
|
– |
|
Assured Guaranty Corp. |
| AGM |
|
– |
|
Assured Guaranty Municipal Corp. |
| AMBAC |
|
– |
|
AMBAC Financial Group, Inc. |
| AMT |
|
– |
|
Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BAM |
|
– |
|
Build America Mutual Assurance Co. |
| NPFG |
|
– |
|
National Public Finance Guaranty Corp. |
| XLCA |
|
– |
|
XL Capital Assurance, Inc. |
The Trust invests primarily in debt securities issued by New Jersey municipalities. The ability of the issuers of the debt
securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2014, 28.4% of total investments are backed
by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 0.8% to 9.3% of total
investments.
|
|
|
|
|
|
|
21 |
|
See Notes to Financial Statements. |
Eaton Vance
New Jersey Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
| (1) |
Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1H). |
| (2) |
Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $525,125.
|
| (3) |
Variable rate security. The stated interest rate represents the rate in effect at May 31, 2014.
|
|
|
|
|
|
|
|
22 |
|
See Notes to Financial Statements. |
Eaton Vance
New York Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
| Tax-Exempt Investments — 164.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Bond Bank — 6.1% |
|
| New York Environmental Facilities Corp., 5.00%, 10/15/39 |
|
$ |
1,730 |
|
|
$ |
1,929,746 |
|
| New York Environmental Facilities Corp., (New York City Municipal Water Finance Authority), 5.00%, 6/15/37(1) |
|
|
2,535 |
|
|
|
2,851,418 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
4,781,164 |
|
| |
|
|
|
|
|
|
|
|
|
| Cogeneration — 1.4% |
|
| Suffolk County Industrial Development Agency, (Nissequogue Cogeneration Partners Facility), (AMT), 5.50%, 1/1/23 |
|
$ |
1,070 |
|
|
$ |
1,069,936 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,069,936 |
|
| |
|
|
|
|
|
|
|
|
|
| Education — 28.0% |
|
| Hempstead Local Development Corp., (Adelphi University), 5.00%, 6/1/31 |
|
$ |
310 |
|
|
$ |
336,955 |
|
| Monroe County Industrial Development Corp., (St. John Fisher College), 5.00%, 6/1/23 |
|
|
150 |
|
|
|
169,442 |
|
| New York City Cultural Resources Trust, (The Juilliard School), 5.00%, 1/1/34 |
|
|
1,490 |
|
|
|
1,674,834 |
|
| New York City Cultural Resources Trust, (The Juilliard School), 5.00%, 1/1/39 |
|
|
325 |
|
|
|
363,912 |
|
| New York Dormitory Authority, (Brooklyn Law School), 5.75%, 7/1/33 |
|
|
510 |
|
|
|
550,810 |
|
| New York Dormitory Authority, (Columbia University), 5.00%, 7/1/38 |
|
|
1,000 |
|
|
|
1,123,000 |
|
| New York Dormitory Authority, (Columbia University), 5.00%, 10/1/41 |
|
|
725 |
|
|
|
805,236 |
|
| New York Dormitory Authority, (Cornell University), 5.00%, 7/1/34 |
|
|
510 |
|
|
|
579,946 |
|
| New York Dormitory Authority, (Cornell University), 5.00%, 7/1/39 |
|
|
2,000 |
|
|
|
2,269,380 |
|
| New York Dormitory Authority, (Culinary Institute of America), 5.50%, 7/1/33 |
|
|
220 |
|
|
|
241,846 |
|
| New York Dormitory Authority, (Fordham University), 5.50%, 7/1/36 |
|
|
1,000 |
|
|
|
1,126,190 |
|
| New York Dormitory Authority, (Rochester Institute of Technology), Prerefunded to 7/1/18, 6.00%, 7/1/33 |
|
|
2,250 |
|
|
|
2,711,835 |
|
| New York Dormitory Authority, (Rockefeller University), 5.00%, 7/1/40 |
|
|
2,500 |
|
|
|
2,814,025 |
|
| New York Dormitory Authority, (Skidmore College), 5.00%, 7/1/27 |
|
|
325 |
|
|
|
370,104 |
|
| New York Dormitory Authority, (Skidmore College), 5.25%, 7/1/29 |
|
|
400 |
|
|
|
457,196 |
|
| New York Dormitory Authority, (St. Francis College), 5.00%, 10/1/40 |
|
|
1,695 |
|
|
|
1,794,310 |
|
| New York Dormitory Authority, (The New School), 5.50%, 7/1/40 |
|
|
2,000 |
|
|
|
2,190,520 |
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Education (continued) |
|
| Onondaga Civic Development Corp., (Le Moyne College), 5.20%, 7/1/29 |
|
$ |
280 |
|
|
$ |
298,214 |
|
| Onondaga Civic Development Corp., (Le Moyne College), 5.375%, 7/1/40 |
|
|
735 |
|
|
|
778,703 |
|
| Onondaga County Cultural Resources Trust, (Syracuse University), 5.00%, 12/1/38 |
|
|
1,205 |
|
|
|
1,347,467 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
22,003,925 |
|
| |
|
|
|
|
|
|
|
|
|
| Electric Utilities — 7.8% |
|
| Long Island Power Authority, Electric System Revenue, 6.00%, 5/1/33 |
|
$ |
1,420 |
|
|
$ |
1,665,859 |
|
| Puerto Rico Electric Power Authority, 5.25%, 7/1/31 |
|
|
1,330 |
|
|
|
830,465 |
|
| Suffolk County Industrial Development Agency, (KeySpan-Port Jefferson Energy Center, LLC), (AMT), 5.25%, 6/1/27 |
|
|
1,645 |
|
|
|
1,653,357 |
|
| Utility Debt Securitization Authority, 5.00%, 12/15/33 |
|
|
1,735 |
|
|
|
2,012,461 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
6,162,142 |
|
| |
|
|
|
|
|
|
|
|
|
| General Obligations — 7.3% |
|
| New York, 5.00%, 2/15/34(1) |
|
$ |
4,000 |
|
|
$ |
4,536,480 |
|
| New York City, 6.25%, 10/15/28 |
|
|
1,000 |
|
|
|
1,194,520 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,731,000 |
|
| |
|
|
|
|
|
|
|
|
|
| Health Care – Miscellaneous — 0.2% |
|
| Suffolk County Industrial Development Agency, (Alliance of Long Island Agencies), Series A, Class H, 7.50%, 9/1/15 |
|
$ |
50 |
|
|
$ |
50,380 |
|
| Suffolk County Industrial Development Agency, (Alliance of Long Island Agencies), Series A, Class I, 7.50%, 9/1/15 |
|
|
100 |
|
|
|
100,760 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
151,140 |
|
| |
|
|
|
|
|
|
|
|
|
| Hospital — 23.7% |
|
| Dutchess County Local Development Corp., (Health Quest Systems, Inc.), 5.75%, 7/1/30 |
|
$ |
130 |
|
|
$ |
146,588 |
|
| Dutchess County Local Development Corp., (Health Quest Systems, Inc.), 5.75%, 7/1/40 |
|
|
960 |
|
|
|
1,065,235 |
|
| Fulton County Industrial Development Agency, (Nathan Littauer Hospital), 6.00%, 11/1/18 |
|
|
870 |
|
|
|
871,505 |
|
| Monroe County Industrial Development Agency, (Highland Hospital), 5.00%, 8/1/25 |
|
|
2,490 |
|
|
|
2,595,327 |
|
| Nassau County Local Economic Assistance Corp., (South Nassau Communities Hospital), 5.00%, 7/1/37 |
|
|
1,000 |
|
|
|
1,059,960 |
|
| New York Dormitory Authority, (Methodist Hospital), 5.25%, 7/1/33 |
|
|
2,000 |
|
|
|
2,002,840 |
|
| New York Dormitory Authority, (Mount Sinai Hospital), 5.00%, 7/1/26 |
|
|
1,000 |
|
|
|
1,116,670 |
|
| New York Dormitory Authority, (North Shore-Long Island Jewish Obligated Group), 5.00%, 5/1/32 |
|
|
1,000 |
|
|
|
1,083,770 |
|
|
|
|
|
|
|
|
23 |
|
See Notes to Financial Statements. |
Eaton Vance
New York Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Hospital (continued) |
|
| New York Dormitory Authority, (North Shore-Long Island Jewish Obligated Group), 5.00%, 11/1/34 |
|
$ |
845 |
|
|
$ |
879,214 |
|
| New York Dormitory Authority, (NYU Hospital Center), 5.00%, 7/1/36 |
|
|
750 |
|
|
|
781,275 |
|
| New York Dormitory Authority, (NYU Hospital Center), 5.625%, 7/1/37 |
|
|
1,250 |
|
|
|
1,372,950 |
|
| New York Dormitory Authority, (Orange Regional Medical Center), 6.125%, 12/1/29 |
|
|
415 |
|
|
|
431,920 |
|
| New York Dormitory Authority, (Orange Regional Medical Center), 6.25%, 12/1/37 |
|
|
835 |
|
|
|
861,353 |
|
| Oneida County Industrial Development Agency, (St. Elizabeth Medical Center), 5.75%, 12/1/19 |
|
|
965 |
|
|
|
967,383 |
|
| Onondaga Civic Development Corp., (St. Joseph’s Hospital Health Center), 4.50%, 7/1/32 |
|
|
395 |
|
|
|
382,625 |
|
| Onondaga Civic Development Corp., (St. Joseph’s Hospital Health Center), 5.00%, 7/1/42 |
|
|
1,000 |
|
|
|
979,270 |
|
| Saratoga County Industrial Development Agency, (Saratoga Hospital), 5.25%, 12/1/32 |
|
|
650 |
|
|
|
678,255 |
|
| Suffolk County Economic Development Corp., (Catholic Health Services of Long Island Obligated Group), 5.00%, 7/1/28 |
|
|
1,250 |
|
|
|
1,356,925 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
18,633,065 |
|
| |
|
|
|
|
|
|
|
|
|
| Housing — 13.7% |
|
| New York City Housing Development Corp., MFMR, (AMT), 5.05%, 11/1/39 |
|
$ |
1,500 |
|
|
$ |
1,513,110 |
|
| New York City Housing Development Corp., MFMR, (AMT), 5.20%, 11/1/40 |
|
|
2,620 |
|
|
|
2,674,575 |
|
| New York Housing Finance Agency, 5.25%, 11/1/41 |
|
|
1,000 |
|
|
|
1,056,890 |
|
| New York Housing Finance Agency, (FNMA), (AMT), 5.40%, 11/15/42 |
|
|
2,625 |
|
|
|
2,709,157 |
|
| New York Mortgage Agency, (AMT), 4.875%, 10/1/30 |
|
|
1,500 |
|
|
|
1,533,570 |
|
| New York Mortgage Agency, (AMT), 4.90%, 10/1/37 |
|
|
1,250 |
|
|
|
1,265,088 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,752,390 |
|
| |
|
|
|
|
|
|
|
|
|
| Industrial Development Revenue — 4.9% |
|
| Essex County Industrial Development Agency, (International Paper Company), (AMT), 6.625%, 9/1/32 |
|
$ |
1,000 |
|
|
$ |
1,120,740 |
|
| New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35 |
|
|
980 |
|
|
|
1,149,207 |
|
| Niagara Area Development Corp., (Covanta Energy), (AMT), 5.25%, 11/1/42 |
|
|
1,350 |
|
|
|
1,372,936 |
|
| Port Authority of New York and New Jersey, (Continental Airlines), (AMT), 9.125%, 12/1/15 |
|
|
195 |
|
|
|
199,013 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,841,896 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Insured – Education — 6.8% |
|
| New York Dormitory Authority, (City University), (AMBAC), 5.50%, 7/1/35 |
|
$ |
1,250 |
|
|
$ |
1,416,275 |
|
| New York Dormitory Authority, (State University), (BHAC), 5.00%, 7/1/38(1) |
|
|
1,500 |
|
|
|
1,636,665 |
|
| Oneida County Industrial Development Agency, (Hamilton College), (NPFG), 0.00%, 7/1/33 |
|
|
5,365 |
|
|
|
2,308,238 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,361,178 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Electric Utilities — 2.0% |
|
| Long Island Power Authority, Electric System Revenue, (BHAC), 5.75%, 4/1/33 |
|
$ |
1,365 |
|
|
$ |
1,594,866 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,594,866 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Other Revenue — 3.8% |
|
| New York City Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/31 |
|
$ |
2,645 |
|
|
$ |
1,303,244 |
|
| New York City Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/32 |
|
|
3,625 |
|
|
|
1,700,343 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
3,003,587 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Special Tax Revenue — 0.4% |
|
| Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45 |
|
$ |
2,475 |
|
|
$ |
338,060 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
338,060 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Transportation — 1.9% |
|
| Niagara Frontier Airport Authority, (Buffalo Niagara International Airport), (NPFG), (AMT), 5.625%, 4/1/29 |
|
$ |
1,475 |
|
|
$ |
1,485,296 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,485,296 |
|
| |
|
|
|
|
|
|
|
|
|
| Insured – Water and Sewer — 1.3% |
|
| Nassau County Industrial Development Agency, (New York Water Services Corp.), (AMBAC), (AMT), 5.00%, 12/1/35 |
|
$ |
1,000 |
|
|
$ |
1,013,350 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,013,350 |
|
| |
|
|
|
|
|
|
|
|
|
| Other Revenue — 7.2% |
|
| Brooklyn Arena Local Development Corp., (Barclays Center), 0.00%, 7/15/31 |
|
$ |
3,120 |
|
|
$ |
1,332,552 |
|
| Brooklyn Arena Local Development Corp., (Barclays Center), 6.25%, 7/15/40 |
|
|
380 |
|
|
|
419,444 |
|
| New York City Cultural Resources Trust, (Museum of Modern Art), 5.00%, 4/1/31 |
|
|
625 |
|
|
|
703,387 |
|
| New York City Transitional Finance Authority, (Building Aid), 5.50%, 7/15/31 |
|
|
1,000 |
|
|
|
1,141,990 |
|
| New York Liberty Development Corp., (7 World Trade Center), 5.00%, 3/15/44 |
|
|
2,000 |
|
|
|
2,096,460 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,693,833 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
24 |
|
See Notes to Financial Statements. |
Eaton Vance
New York Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Senior Living / Life Care — 6.7% |
|
| Mount Vernon Industrial Development Agency, (Wartburg Senior Housing, Inc.), 6.20%, 6/1/29 |
|
$ |
1,450 |
|
|
$ |
1,450,681 |
|
| New York Dormitory Authority, (Miriam Osborn Memorial Home Association), 5.00%, 7/1/29 |
|
|
280 |
|
|
|
298,597 |
|
| New York Dormitory Authority, (Miriam Osborn Memorial Home Association), 5.00%, 7/1/42 |
|
|
120 |
|
|
|
126,372 |
|
| Suffolk County Economic Development Corp., (Peconic Landing at Southold, Inc.), 6.00%, 12/1/40 |
|
|
905 |
|
|
|
992,007 |
|
| Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.25%, 7/1/32 |
|
|
230 |
|
|
|
229,706 |
|
| Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.50%, 7/1/42 |
|
|
230 |
|
|
|
218,390 |
|
| Westchester County Local Development Corp., (Kendal on Hudson), 5.00%, 1/1/34 |
|
|
1,830 |
|
|
|
1,941,319 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,257,072 |
|
| |
|
|
|
|
|
|
|
|
|
| Special Tax Revenue — 20.9% |
|
| Metropolitan Transportation Authority, Dedicated Tax Revenue, 5.00%, 11/15/34 |
|
$ |
1,500 |
|
|
$ |
1,672,215 |
|
| New York City Transitional Finance Authority, Future Tax Revenue, 5.50%, 11/1/35(1)(2) |
|
|
2,100 |
|
|
|
2,441,901 |
|
| New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 3/15/33 |
|
|
1,000 |
|
|
|
1,131,400 |
|
| New York Dormitory Authority, Personal Income Tax Revenue, (University & College Improvements),
5.25%, 3/15/38 |
|
|
1,000 |
|
|
|
1,142,300 |
|
| New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/34 |
|
|
2,380 |
|
|
|
2,677,762 |
|
| New York Thruway Authority, Fuel Tax Revenue,
5.00%, 4/1/30(1) |
|
|
6,000 |
|
|
|
6,763,020 |
|
| Virgin Islands Public Finance Authority, 6.75%, 10/1/37 |
|
|
545 |
|
|
|
606,378 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
16,434,976 |
|
| |
|
|
|
|
|
|
|
|
|
| Transportation — 13.5% |
|
| Metropolitan Transportation Authority, 5.00%, 11/15/37 |
|
$ |
790 |
|
|
$ |
826,569 |
|
| Metropolitan Transportation Authority, 5.00%, 11/15/38 |
|
|
1,500 |
|
|
|
1,638,540 |
|
| New York Thruway Authority, 5.00%, 1/1/37 |
|
|
700 |
|
|
|
767,697 |
|
| New York Thruway Authority, 5.00%, 1/1/42 |
|
|
1,000 |
|
|
|
1,078,070 |
|
| Port Authority of New York and New Jersey,
5.00%, 11/15/37(1) |
|
|
1,900 |
|
|
|
2,121,084 |
|
| Port Authority of New York and New Jersey, (AMT),
5.75%, 3/15/35(1) |
|
|
990 |
|
|
|
1,093,010 |
|
| Triborough Bridge and Tunnel Authority,
5.25%, 11/15/34(1) |
|
|
2,740 |
|
|
|
3,119,106 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,644,076 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Water and Sewer — 6.4% |
|
| Dutchess County Water and Wastewater Authority, 0.00%, 10/1/34 |
|
$ |
585 |
|
|
$ |
269,644 |
|
| Dutchess County Water and Wastewater Authority, 0.00%, 10/1/35 |
|
|
325 |
|
|
|
142,704 |
|
| New York City Municipal Water Finance Authority, (Water and Sewer System), 5.75%, 6/15/40(1)(2) |
|
|
3,105 |
|
|
|
3,573,824 |
|
| Saratoga County Water Authority, 5.00%, 9/1/48 |
|
|
1,000 |
|
|
|
1,081,740 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
5,067,912 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Tax-Exempt Investments — 164.0%
(identified cost $117,999,956) |
|
|
$ |
129,020,864 |
|
| |
|
|
| Miscellaneous — 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Security |
|
Units |
|
|
Value |
|
|
| Real Estate — 1.1% |
|
| CMS Liquidating Trust(3)(4)(5) |
|
|
257 |
|
|
$ |
887,164 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Miscellaneous — 1.1%
(identified cost $822,400) |
|
|
$ |
887,164 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Total Investments — 165.1%
(identified cost $118,822,356) |
|
|
$ |
129,908,028 |
|
| |
|
|
|
|
|
|
|
|
|
|
| Auction Preferred Shares Plus Cumulative Unpaid Dividends — (42.9)% |
|
|
$ |
(33,725,243 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Other Assets, Less Liabilities — (22.2)% |
|
|
$ |
(17,497,365 |
) |
| |
|
|
|
|
|
|
|
|
|
|
| Net Assets Applicable to Common Shares — 100.0% |
|
|
$ |
78,685,420 |
|
| |
|
|
|
|
|
|
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common
shares.
|
|
|
|
|
| AGC |
|
– |
|
Assured Guaranty Corp. |
| AMBAC |
|
– |
|
AMBAC Financial Group, Inc. |
| AMT |
|
– |
|
Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax. |
| BHAC |
|
– |
|
Berkshire Hathaway Assurance Corp. |
| FNMA |
|
– |
|
Federal National Mortgage Association |
| MFMR |
|
– |
|
Multi-Family Mortgage Revenue |
| NPFG |
|
– |
|
National Public Finance Guaranty Corp. |
The Trust invests primarily in debt securities issued by New York municipalities. The ability of the issuers of the debt securities
to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at May 31, 2014, 9.9% of total investments are backed by bond
insurance of various financial institutions and financial guaranty
|
|
|
|
|
|
|
25 |
|
See Notes to Financial Statements. |
Eaton Vance
New York Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited) — continued
assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 1.9% to 3.2% of total investments.
| (1) |
Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1H). |
| (2) |
Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $2,370,725.
|
| (3) |
Non-income producing. |
| (4) |
For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 10). |
| (5) |
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to
qualified institutional buyers) and remain exempt from registration. At May 31, 2014, the aggregate value of these securities is $887,164 or 1.1% of the Trust’s net assets applicable to common shares.
|
|
|
|
|
|
|
|
26 |
|
See Notes to Financial Statements. |
Eaton Vance
Ohio Municipal Income Trust
May 31, 2014
Portfolio of Investments (Unaudited)
|
|
|
|
|
|
|
|
|
| Tax-Exempt Investments — 150.9% |
|
|
|
|
| Security |
|
Principal
Amount
(000’s omitted) |
|
|
Value |
|
|
|
|
|
|
|
|
|
|
|
| Bond Bank — 6.4% |
|
| Ohio Economic Development Commission, (Ohio Enterprise Bond Fund), (AMT), 5.85%, 12/1/22 |
|
$ |
1,020 |
|
|
$ |
1,045,837 |
|
| Ohio Water Development Authority, Water Pollution Control Loan Fund, (Water Quality), 5.00%, 12/1/28 |
|
|
250 |
|
|
|
292,410 |
|
| Ohio Water Development Authority, Water Pollution Control Loan Fund, (Water Quality), 5.00%, 6/1/30 |
|
|
210 |
|
|
|
241,941 |
|
| Rickenbacker Port Authority, (OASBO Expanded Asset Pooled Financing Program), 5.375%, 1/1/32(1) |
|
|
975 |
|
|
|
1,105,952 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
2,686,140 |
|
| |
|
|
|
|
|
|
|
|
|
| Education — 21.5% |
|
| Miami University, 4.00%, 9/1/39(2) |
|
$ |
500 |
|
|
$ |
507,765 |
|
| Miami University, 5.00%, 9/1/33 |
|
|
1,000 |
|
|
|
1,109,150 |
|
| Ohio Higher Educational Facility Commission, (Kenyon College), 5.00%, 7/1/44 |
|
|
440 |
|
|
|
463,426 |
|
| Ohio Higher Educational Facility Commission, (Kenyon College), 5.25%, 7/1/44 |
|
|
1,250 |
|
|
|
1,333,275 |
|
| Ohio Higher Educational Facility Commission, (Oberlin College), 5.00%, 10/1/33 |
|
|
500 |
|
|
|
562,875 |
|
| Ohio Higher Educational Facility Commission, (University of Dayton), 5.50%, 12/1/36 |
|
|
1,000 |
|
|
|
1,133,570 |
|
| Ohio State University, 5.00%, 12/1/28 |
|
|
480 |
|
|
|
600,322 |
|
| Ohio State University, 5.00%, 12/1/30 |
|
|
1,605 |
|
|
|
1,988,370 |
|
| University of Cincinnati, 5.00%, 6/1/34 |
|
|
500 |
|
|
|
553,545 |
|
| Wright State University, 5.00%, 5/1/31 |
|
|
750 |
|
|
|
829,012 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
9,081,310 |
|
| |
|
|
|
|
|
|
|
|
|
| Electric Utilities — 2.5% |
|
| American Municipal Power, Inc., (AMP Fremont Energy Center), 5.00%, 2/15/32 |
|
$ |
470 |
|
|
$ |
508,822 |
|
| Ohio Air Quality Development Authority, (Buckeye Power, Inc.), 6.00%, 12/1/40 |
|
|
500 |
|
|
|
555,100 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,063,922 |
|
| |
|
|
|
|
|
|
|
|
|
| Escrowed / Prerefunded — 2.1% |
|
| Central Ohio Solid Waste Authority, Prerefunded to 9/1/18, 5.125%, 9/1/27 |
|
$ |
65 |
|
|
$ |
76,286 |
|
| Columbus, Prerefunded to 7/1/14, 5.00%, 7/1/23 |
|
|
500 |
|
|
|
502,100 |
|
| Maple Heights City School District, Prerefunded to 1/15/17, 5.00%, 1/15/37 |
|
|
180 |
|
|
|
200,828 |
|
| Ohio State University, Escrowed to Maturity, 5.00%, 12/1/28 |
|
|
20 |
|
|
|
25,783 |
|
| Ohio State University, Escrowed to Maturity, 5.00%, 12/1/30 |
|
|
70 |
|
|
|
90,510 |
|
| |
|
|
|
|
|
|
|