Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited)
Corporate Bonds — 2.9% |
Security | Principal Amount (000's omitted) | Value | |
Hospital — 2.1% | |||
Boston Medical Center Corp., 4.581%, 7/1/47 | $ | 4,165 | $ 3,884,891 |
Harnett Health System, Inc., 4.25% to 4/1/25 (Put Date), 4/1/32 | 5,365 | 5,284,525 | |
Montefiore Obligated Group, 4.287%, 9/1/50 | 8,915 | 6,897,702 | |
Tower Health, 4.451%, 2/1/50 | 15,405 | 11,861,850 | |
$ 27,928,968 | |||
Other — 0.7% | |||
Morongo Band of Mission Indians, 7.00%, 10/1/39(1) | $ | 7,980 | $ 9,281,698 |
$ 9,281,698 | |||
Other Revenue — 0.1% | |||
YMCA of Greater New York, 2.303%, 8/1/26 | $ | 1,055 | $ 995,734 |
$ 995,734 | |||
Total Corporate Bonds (identified cost $40,921,581) | $ 38,206,400 |
Tax-Exempt Municipal Obligations — 96.9% |
Security | Principal Amount (000's omitted) | Value | |
Cogeneration — 0.0%(2) | |||
Northampton County Industrial Development Authority, PA, (Northampton Generating), (AMT), 5.00%, 12/31/23(3) | $ | 567 | $ 102,093 |
$ 102,093 | |||
Education — 5.5% | |||
Arizona Industrial Development Authority, (Doral Academy of Nevada), 5.00%, 7/15/39(1) | $ | 1,270 | $ 1,303,795 |
Arizona Industrial Development Authority, (Pinecrest Academy of Nevada), 4.00%, 7/15/50(1) | 925 | 787,138 | |
Arizona Industrial Development Authority, (Somerset Academy of Las Vegas), 4.00%, 12/15/51(1) | 800 | 682,504 | |
Build NYC Resource Corp., NY, (New World Preparatory Charter School): | |||
4.00%, 6/15/51 | 160 | 137,341 | |
4.00%, 6/15/56 | 125 | 104,989 | |
Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.): | |||
5.375%, 6/15/38(1) | 545 | 553,039 | |
5.375%, 6/15/48(1) | 1,020 | 1,019,214 |
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
Capital Trust Agency, FL, (Liza Jackson Preparatory School, Inc.), 5.00%, 8/1/55 | $ | 325 | $ 332,914 |
Colorado Educational and Cultural Facilities Authority, (Aspen View Academy): | |||
4.00%, 5/1/41 | 150 | 137,895 | |
4.00%, 5/1/51 | 500 | 438,230 | |
District of Columbia, (District of Columbia International School): | |||
5.00%, 7/1/39 | 710 | 730,597 | |
5.00%, 7/1/49 | 700 | 710,157 | |
District of Columbia, (KIPP DC): | |||
4.00%, 7/1/39 | 280 | 263,687 | |
4.00%, 7/1/44 | 270 | 246,815 | |
4.00%, 7/1/49 | 385 | 342,392 | |
District of Columbia, (Rocketship DC Obligated Group): | |||
5.00%, 6/1/41(1) | 1,190 | 1,229,615 | |
5.00%, 6/1/49(1) | 2,100 | 2,134,713 | |
5.00%, 6/1/61(1) | 1,175 | 1,192,719 | |
Erie Higher Education Building Authority, PA, (Gannon University), 5.00%, 5/1/47 | 475 | 499,918 | |
Florida Development Finance Corp., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 4.00%, 7/1/51(1) | 1,000 | 871,430 | |
Florida Development Finance Corp., (River City Science Academy Project), 4.00%, 7/1/55 | 750 | 623,835 | |
Florida Higher Educational Facilities Financing Authority, (Jacksonville University), 5.00%, 6/1/48(1) | 750 | 753,480 | |
Indiana Finance Authority, (KIPP Indianapolis, Inc.): | |||
5.00%, 7/1/40 | 170 | 174,519 | |
5.00%, 7/1/55 | 460 | 465,557 | |
Indiana Finance Authority, (Valparaiso University): | |||
4.00%, 10/1/34 | 500 | 505,655 | |
4.00%, 10/1/35 | 650 | 656,435 | |
Kentucky Bond Development Corp., (Centre College): | |||
4.00%, 6/1/46 | 800 | 815,784 | |
4.00%, 6/1/51 | 1,250 | 1,268,725 | |
Kentucky Bond Development Corp., (Transylvania University): | |||
4.00%, 3/1/46 | 2,805 | 2,825,252 | |
4.00%, 3/1/49 | 705 | 707,919 | |
Los Ranchos de Albuquerque, NM, (Albuquerque Academy): | |||
4.00%, 9/1/35 | 300 | 308,952 | |
4.00%, 9/1/40 | 1,200 | 1,227,000 |
1
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
Louisiana Public Facilities Authority, (Loyola University), 4.00%, 10/1/51 | $ | 1,170 | $ 1,101,836 |
Maricopa County Industrial Development Authority, AZ, (Arizona Autism Charter Schools), 4.00%, 7/1/61(1) | 2,600 | 2,162,732 | |
Maricopa County Industrial Development Authority, AZ, (Legacy Traditional Schools): | |||
4.00%, 7/1/51(1) | 1,650 | 1,436,869 | |
4.00%, 7/1/56(1) | 1,220 | 1,033,389 | |
Massachusetts Development Finance Agency, (Wentworth Institute of Technology), 5.00%, 10/1/46 | 4,000 | 4,214,480 | |
Michigan State University, 5.00%, 2/15/44 | 1,000 | 1,098,500 | |
Ohio State University, 0.38%, 12/1/39(4) | 9,190 | 9,190,000 | |
Oregon Facilities Authority, (University of Portland), 5.00%, 4/1/35 | 1,000 | 1,063,230 | |
Public Finance Authority, WI, (Coral Academy of Science Las Vegas), 4.00%, 7/1/51 | 2,000 | 1,712,980 | |
Public Finance Authority, WI, (North Carolina Leadership Academy): | |||
4.00%, 6/15/29(1) | 265 | 266,953 | |
5.00%, 6/15/39(1) | 205 | 210,428 | |
5.00%, 6/15/49(1) | 260 | 264,529 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
4.00%, 4/1/52(1) | 1,000 | 846,570 | |
5.00%, 4/1/40(1) | 840 | 869,921 | |
5.00%, 4/1/50(1) | 2,510 | 2,569,161 | |
Romeoville, IL, (Lewis University): | |||
5.00%, 10/1/27 | 1,000 | 1,050,200 | |
5.00%, 10/1/29 | 1,000 | 1,045,570 | |
5.00%, 10/1/30 | 1,000 | 1,042,920 | |
5.00%, 10/1/35 | 2,000 | 2,078,740 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 4.00%, 4/1/54 | 2,000 | 1,856,940 | |
University of California, 5.00%, 5/15/38(5) | 10,000 | 10,272,100 | |
Wisconsin Health and Educational Facilities Authority, (Hmong American Peace Academy, Ltd.): | |||
4.00%, 3/15/40 | 750 | 707,505 | |
5.00%, 3/15/50 | 2,345 | 2,397,528 | |
$ 72,545,296 | |||
Electric Utilities — 2.9% | |||
Arkansas River Power Authority, CO: | |||
5.00%, 10/1/31 | $ | 1,500 | $ 1,629,270 |
5.00%, 10/1/32 | 1,500 | 1,625,700 | |
5.00%, 10/1/38 | 9,325 | 10,002,368 | |
5.00%, 10/1/43 | 2,250 | 2,393,640 |
Security | Principal Amount (000's omitted) | Value | |
Electric Utilities (continued) | |||
Burke County Development Authority, GA, (Oglethorpe Power Corp.), 4.125%, 11/1/45 | $ | 15,890 | $ 15,247,567 |
Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), (AMT), 4.00%, 3/1/37 | 7,500 | 7,571,550 | |
$ 38,470,095 | |||
Escrowed/Prerefunded — 4.2% | |||
Build NYC Resource Corp., NY, (YMCA of Greater New York): | |||
Prerefunded to 8/1/25, 4.00%, 8/1/31 | $ | 650 | $ 679,159 |
Prerefunded to 8/1/25, 4.00%, 8/1/36 | 875 | 914,253 | |
Central Texas Regional Mobility Authority, Prerefunded to 7/1/25, 5.00%, 1/1/35 | 1,100 | 1,184,920 | |
Colorado Health Facilities Authority, (Covenant Retirement Communities, Inc.), Prerefunded to 12/1/22, 5.00%, 12/1/33 | 5,000 | 5,094,100 | |
Dawson Ridge Metropolitan District No. 1, CO, Escrowed to Maturity, 0.00%, 10/1/22 | 3,500 | 3,478,090 | |
Detroit, MI, Sewage Disposal System: | |||
Prerefunded to 7/1/22, 5.00%, 7/1/32 | 3,185 | 3,204,269 | |
Prerefunded to 7/1/22, 5.25%, 7/1/39 | 3,355 | 3,376,673 | |
East Hempfield Township Industrial Development Authority, PA, (Student Services, Inc.): | |||
Prerefunded to 7/1/24, 5.00%, 7/1/34 | 750 | 790,343 | |
Prerefunded to 7/1/24, 5.00%, 7/1/39 | 1,250 | 1,317,237 | |
Illinois Finance Authority, (Plymouth Place, Inc.), Prerefunded to 5/15/25, 5.00%, 5/15/37 | 1,000 | 1,068,380 | |
Martin County Health Facilities Authority, FL, (Martin Memorial Medical Center), Prerefunded to 11/15/24, 4.25%, 11/15/41 | 3,940 | 4,102,998 | |
Michigan Finance Authority, (Detroit Water and Sewerage Department), Prerefunded to 7/1/22, 5.00%, 7/1/44 | 1,905 | 1,916,525 | |
New Hope Cultural Education Facilities Finance Corp., TX, (CHF-Collegiate Housing Galveston I, LLC - Texas A&M University), Prerefunded to 4/1/24, 5.00%, 4/1/34 | 3,885 | 4,073,112 | |
New Hope Cultural Education Facilities Finance Corp., TX, (CHF-Collegiate Housing Stephenville III, LLC - Tarleton State University): | |||
Prerefunded to 4/1/25, 5.00%, 4/1/30 | 800 | 853,872 | |
Prerefunded to 4/1/25, 5.00%, 4/1/35 | 1,000 | 1,067,340 | |
Palm Beach County Health Facilities Authority, FL, (BRRH Corp. Obligated Group), Prerefunded to 12/1/24, 5.00%, 12/1/31 | 6,250 | 6,652,312 | |
San Joaquin Hills Transportation Corridor Agency, CA, Prerefunded to 1/15/25, 5.00%, 1/15/44 | 10,000 | 10,666,000 |
2
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Escrowed/Prerefunded (continued) | |||
Savannah Economic Development Authority, GA, (Marshes Skidaway Island Project), Prerefunded to 1/1/24, 7.00%, 1/1/34 | $ | 3,000 | $ 3,221,190 |
Southwestern Illinois Development Authority, (Memorial Group, Inc.), Prerefunded to 11/1/23, 7.25%, 11/1/33 | 1,455 | 1,560,604 | |
$ 55,221,377 | |||
General Obligations — 6.9% | |||
Centennial Independent School District No. 12, Circle Pines, MN: | |||
0.00%, 2/1/31 | $ | 1,225 | $ 915,381 |
0.00%, 2/1/33 | 1,500 | 1,025,400 | |
Chicago Board of Education, IL: | |||
5.00%, 12/1/26 | 1,595 | 1,692,933 | |
5.00%, 12/1/34 | 3,650 | 3,842,319 | |
5.00%, 12/1/42 | 1,820 | 1,840,439 | |
Chicago, IL, 5.00%, 1/1/40 | 2,000 | 2,110,320 | |
Detroit, MI: | |||
5.00%, 4/1/30 | 1,400 | 1,494,192 | |
5.00%, 4/1/31 | 865 | 918,431 | |
5.50%, 4/1/31 | 565 | 627,150 | |
5.50%, 4/1/32 | 595 | 659,165 | |
5.50%, 4/1/35 | 350 | 385,914 | |
5.50%, 4/1/45 | 1,930 | 2,100,998 | |
5.50%, 4/1/50 | 2,320 | 2,512,073 | |
Illinois: | |||
4.00%, 6/1/33 | 4,000 | 3,955,560 | |
4.00%, 11/1/40 | 4,000 | 3,772,200 | |
5.00%, 11/1/30 | 7,200 | 7,596,288 | |
5.00%, 5/1/33 | 9,480 | 9,987,844 | |
5.00%, 5/1/35 | 3,500 | 3,610,740 | |
5.00%, 12/1/42 | 8,125 | 8,421,806 | |
5.25%, 7/1/30 | 2,800 | 2,876,636 | |
5.50%, 5/1/39 | 1,085 | 1,181,174 | |
5.75%, 5/1/45 | 1,115 | 1,223,456 | |
L'Anse Creuse Public Schools, MI, (LOC: TD Bank, N.A.), 0.44%, 5/1/35(4) | 6,500 | 6,500,000 | |
Puerto Rico: | |||
0.00%, 7/1/24 | 292 | 265,733 | |
0.00%, 7/1/33 | 731 | 418,010 | |
4.00%, 7/1/33 | 568 | 527,944 | |
4.00%, 7/1/35 | 510 | 473,209 | |
4.00%, 7/1/37 | 438 | 394,872 | |
4.00%, 7/1/41 | 596 | 536,966 | |
4.00%, 7/1/46 | 619 | 544,903 |
Security | Principal Amount (000's omitted) | Value | |
General Obligations (continued) | |||
Puerto Rico: (continued) | |||
5.25%, 7/1/23 | $ | 634 | $ 642,006 |
5.375%, 7/1/25 | 632 | 653,814 | |
5.625%, 7/1/27 | 627 | 664,730 | |
5.625%, 7/1/29 | 616 | 664,358 | |
5.75%, 7/1/31 | 599 | 655,370 | |
Sherwood School District No. 88J, OR, 0.00%, 6/15/37 | 3,630 | 1,970,763 | |
Texas, (SPA: State Street Bank and Trust Co.), 0.47%, 12/1/41(4) | 9,035 | 9,035,000 | |
Will and Cook Counties Community High School District No. 210, IL: | |||
0.00%, 1/1/27 | 60 | 50,166 | |
3.375%, 1/1/33 | 450 | 450,216 | |
5.00%, 1/1/28 | 3,500 | 3,548,090 | |
$ 90,746,569 | |||
Hospital — 9.0% | |||
Arkansas Development Finance Authority, (Washington Regional Medical Center), 5.00%, 2/1/33 | $ | 2,200 | $ 2,309,164 |
Arlington County Industrial Development Authority, VA, (Virginia Hospital Center): | |||
4.00%, 7/1/40 | 1,000 | 1,008,060 | |
4.00%, 7/1/45 | 3,000 | 2,985,120 | |
Berks County Industrial Development Authority, PA, (Tower Health): | |||
5.00%, 11/1/47 | 510 | 501,998 | |
5.00%, 11/1/50 | 5,000 | 4,877,050 | |
California Municipal Finance Authority, (NorthBay Healthcare Group): | |||
5.00%, 11/1/35 | 250 | 260,068 | |
5.00%, 11/1/40 | 550 | 570,966 | |
5.00%, 11/1/44 | 500 | 517,725 | |
California Public Finance Authority, (Henry Mayo Newhall Hospital), 5.00%, 10/15/37 | 1,000 | 1,081,810 | |
California Statewide Communities Development Authority, (Methodist Hospital of Southern California), 5.00%, 1/1/48 | 2,400 | 2,560,728 | |
Camden County Improvement Authority, NJ, (Cooper Health System): | |||
5.00%, 2/15/29 | 1,000 | 1,040,470 | |
5.00%, 2/15/32 | 2,000 | 2,077,760 | |
Chattanooga Health, Educational and Housing Facility Board, TN, (CommonSpirit Health), 4.00%, 8/1/44 | 1,655 | 1,581,286 | |
Colorado Health Facilities Authority, (Boulder Community Health), 4.00%, 10/1/39 | 300 | 300,627 | |
Crawford County Hospital Authority, PA, (Meadville Medical Center), 6.00%, 6/1/46 | 3,175 | 3,317,843 |
3
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
Cuyahoga County, OH, (The MetroHealth System): | |||
5.00%, 2/15/31 | $ | 1,500 | $ 1,611,510 |
5.00%, 2/15/32 | 1,500 | 1,605,840 | |
Decatur Hospital Authority, TX, (Wise Health System): | |||
4.00%, 9/1/34 | 1,604 | 1,613,432 | |
4.00%, 9/1/44 | 9,039 | 8,774,428 | |
Doylestown Hospital Authority, PA, (Doylestown Health), 4.00%, 7/1/45 | 315 | 301,531 | |
Grand Forks, ND, (Altru Health System), 4.00%, 12/1/46 | 925 | 882,940 | |
Hamilton County, OH, (UC Health), 4.00%, 9/15/50 | 4,000 | 3,857,800 | |
Illinois Finance Authority, (Presence Health Network), 3.75%, 2/15/34 | 2,965 | 2,933,482 | |
Indiana County Hospital Authority, PA, (Indiana Regional Medical Center): | |||
5.50%, 6/1/29 | 710 | 721,665 | |
6.00%, 6/1/39 | 3,805 | 3,875,849 | |
Jefferson County Civic Facility Development Corp., NY, (Samaritan Medical Center), 5.00%, 11/1/37 | 4,385 | 4,634,594 | |
Maryland Health and Higher Educational Facilities Authority, (Frederick Health System), 4.00%, 7/1/40 | 300 | 298,713 | |
Massachusetts Development Finance Agency, (Atrius Health), 5.00%, 6/1/39 | 925 | 1,011,284 | |
Massachusetts Development Finance Agency, (Wellforce), 5.00%, 7/1/44 | 4,000 | 4,291,360 | |
Montgomery County Higher Education and Health Authority, PA, (Holy Redeemer Health System), 5.00%, 10/1/40 | 1,120 | 1,156,915 | |
Muskingum County, OH, (Genesis HealthCare System Obligated Group), 5.00%, 2/15/33 | 2,775 | 2,785,601 | |
New Jersey Health Care Facilities Financing Authority, (St. Joseph's Healthcare System Obligated Group): | |||
4.00%, 7/1/48 | 6,265 | 6,407,529 | |
5.00%, 7/1/41 | 1,750 | 1,877,803 | |
New York Dormitory Authority, (Orange Regional Medical Center): | |||
5.00%, 12/1/32(1) | 1,000 | 1,090,440 | |
5.00%, 12/1/33(1) | 2,000 | 2,178,380 | |
5.00%, 12/1/34(1) | 3,900 | 4,243,941 | |
5.00%, 12/1/35(1) | 1,000 | 1,086,370 | |
(AMT), 5.00%, 12/1/40(1) | 2,300 | 2,445,843 | |
Niagara Area Development Corp., NY, (Catholic Health System, Inc.), 5.00%, 7/1/52 | 2,000 | 1,878,540 | |
Oklahoma Development Finance Authority, (OU Medicine): | |||
5.00%, 8/15/38 | 1,025 | 1,049,569 | |
5.25%, 8/15/43 | 8,045 | 8,328,908 |
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
Palm Beach County Health Facilities Authority, FL, (Baptist Health South Florida Obligated Group), 3.00%, 8/15/44 | $ | 1,170 | $ 947,326 |
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group): | |||
5.00%, 12/1/35 | 3,100 | 3,148,856 | |
5.75%, 12/1/32 | 4,050 | 4,094,712 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (Cook Children's Medical Center), 5.25%, 12/1/39(5) | 7,000 | 7,292,740 | |
Ward County, ND, (Trinity Obligated Group), 5.00%, 6/1/38 | 2,500 | 2,688,650 | |
West Virginia Hospital Finance Authority, (West Virginia United Health System Obligated Group), Prerefunded to 6/1/23, 5.375%, 6/1/38 | 2,580 | 2,660,496 | |
Yavapai County Industrial Development Authority, AZ, (Yavapai Regional Medical Center), 5.25%, 8/1/33 | 2,500 | 2,586,925 | |
$ 119,354,647 | |||
Housing — 1.4% | |||
California Municipal Finance Authority, (CityView Apartments), Sustainability Bonds, 4.00%, 11/1/36(1) | $ | 5,175 | $ 4,720,842 |
CMFA Special Finance Agency, CA, (Solana at Grand), 4.00%, 8/1/56(1) | 4,000 | 3,513,080 | |
Maryland Economic Development Corp., (Morgan State University), Student Housing Revenue, 4.00%, 7/1/40 | 1,000 | 939,540 | |
New Hope Cultural Education Facilities Finance Corp., TX, (CHF-Collegiate Housing Galveston I, LLC - Texas A&M University), Prerefunded to 4/1/24, 5.00%, 4/1/39 | 3,500 | 3,669,470 | |
Public Finance Authority, WI, (University of Hawaii Foundation), Green and Social Bonds, 4.00%, 7/1/51(1) | 2,500 | 2,238,200 | |
Texas Student Housing Corp., (University of North Texas): | |||
9.375%, 7/1/06(6) | 860 | 860,000 | |
11.00%, 7/1/31 | 2,000 | 2,000,000 | |
$ 17,941,132 | |||
Industrial Development Revenue — 12.1% | |||
Arkansas Development Finance Authority, (Big River Steel), Green Bonds, (AMT), 4.75%, 9/1/49(1) | $ | 7,750 | $ 7,431,475 |
Denver City and County, CO, (United Airlines), (AMT), 5.00%, 10/1/32 | 1,890 | 1,931,656 | |
Florida Development Finance Corp., (Waste Pro USA, Inc.), (AMT), 5.00% to 8/1/22 (Put Date), 8/1/29(1) | 2,250 | 2,258,303 |
4
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Industrial Development Revenue (continued) | |||
George L. Smith II Georgia World Congress Center Authority, 4.00%, 1/1/54 | $ | 2,145 | $ 1,937,965 |
Henderson, KY, (Pratt Paper, LLC), (AMT), 4.70%, 1/1/52(1) | 2,500 | 2,403,175 | |
Houston, TX, (United Airlines, Inc. Terminal E Project), (AMT), 4.75%, 7/1/24 | 4,630 | 4,712,877 | |
Houston, TX, (United Airlines, Inc.): | |||
(AMT), 4.00%, 7/15/41 | 3,595 | 3,275,369 | |
(AMT), 5.00%, 7/15/27 | 1,750 | 1,855,543 | |
Iowa Finance Authority, (Iowa Fertilizer Co.), 5.00%, 12/1/50(7) | 11,500 | 11,669,165 | |
Jefferson County Port Authority, OH, (JSW Steel USA Ohio, Inc.), (AMT), 3.50%, 12/1/51(1) | 5,250 | 3,980,602 | |
Louisiana Public Facilities Authority, (Cleco Power LLC), 4.25%, 12/1/38 | 4,050 | 4,081,144 | |
Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35(1) | 1,880 | 1,983,456 | |
Maricopa County Industrial Development Authority, AZ, (Commercial Metals Co.), (AMT), 4.00%, 10/15/47(1) | 2,650 | 2,420,351 | |
Maricopa County Pollution Control Corp., AZ, (El Paso Electric Co.), 4.50%, 8/1/42 | 6,500 | 6,516,315 | |
Maryland Economic Development Corp., (AFCO Cargo), (AMT), 3.50%, 7/1/24(1) | 1,075 | 1,062,874 | |
Matagorda County Navigation District No. 1, TX, (AEP Texas Central Co.), Series 2008-1, 4.00%, 6/1/30 | 1,000 | 1,016,450 | |
Mississippi Business Finance Corp., (Waste Pro USA, Inc.), (AMT), 5.00% to 8/1/22 (Put Date), 2/1/36(1) | 1,500 | 1,505,535 | |
National Finance Authority, NH, (Covanta): | |||
4.625%, 11/1/42(1) | 6,335 | 6,087,492 | |
(AMT), 4.875%, 11/1/42(1) | 6,965 | 6,915,897 | |
Green Bonds, (AMT), 3.75% to 7/2/40 (Put Date), 7/1/45(1) | 11,690 | 10,161,182 | |
New Hampshire Business Finance Authority, (Casella Waste Systems, Inc.), (AMT), 2.95%, 4/1/29(1) | 480 | 454,550 | |
New Jersey Economic Development Authority, (Continental Airlines): | |||
(AMT), 5.25%, 9/15/29 | 8,285 | 8,406,458 | |
(AMT), 5.50%, 6/1/33 | 4,375 | 4,518,062 | |
(AMT), 5.625%, 11/15/30 | 2,045 | 2,142,465 | |
New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 2.20% to 12/3/29 (Put Date), 10/1/39 | 5,100 | 4,638,399 | |
New York State Environmental Facilities Corp., (Casella Waste Systems, Inc.), (AMT), 3.125% to 6/1/26 (Put Date), 12/1/44(1) | 5,500 | 5,440,655 |
Security | Principal Amount (000's omitted) | Value | |
Industrial Development Revenue (continued) | |||
New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment): | |||
(AMT), 4.375%, 10/1/45 | $ | 14,660 | $ 14,081,663 |
(AMT), 5.00%, 10/1/40 | 7,065 | 7,410,690 | |
Ohio Air Quality Development Authority, (Pratt Paper, LLC), (AMT), 4.25%, 1/15/38(1) | 1,000 | 967,630 | |
Pennsylvania Economic Development Financing Authority, (Covanta), Green Bonds, (AMT), 3.25%, 8/1/39(1) | 2,200 | 1,835,020 | |
Phenix City Industrial Development Board, AL, (MeadWestvaco Coated Board), (AMT), 4.125%, 5/15/35 | 13,570 | 13,620,616 | |
Public Finance Authority, WI, (Celanese Corp.), (AMT), 4.30%, 11/1/30 | 5,000 | 5,136,600 | |
Rockdale County Development Authority, GA, (Pratt Paper, LLC), (AMT), 4.00%, 1/1/38(1) | 6,290 | 5,945,685 | |
Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), 4.625% to 4/3/28 (Put Date), 4/1/36(1) | 475 | 497,881 | |
Virginia Small Business Financing Authority, (Covanta), (AMT), 5.00% to 7/1/38 (Put Date), 1/1/48(1) | 1,440 | 1,440,216 | |
$ 159,743,416 | |||
Insured - Escrowed/Prerefunded — 0.9% | |||
Irvington Township, NJ, (AGM), Prerefunded to 7/15/24, 5.00%, 7/15/32 | $ | 1,000 | $ 1,053,630 |
North Texas Tollway Authority, (AGC), Prerefunded to 1/1/25, 6.20%, 1/1/42 | 10,000 | 10,974,900 | |
$ 12,028,530 | |||
Insured - General Obligations — 1.2% | |||
Atlantic City, NJ: | |||
(AGM), 4.00%, 3/1/42 | $ | 480 | $ 489,874 |
(BAM), 5.00%, 3/1/42 | 1,250 | 1,359,650 | |
Chicago Board of Education, IL, (AGM), 5.00%, 12/1/26 | 500 | 543,515 | |
McHenry County Community Unit School District No. 12, IL, (Johnsburg): | |||
(AGM), 5.00%, 1/1/31 | 3,175 | 3,303,587 | |
(AGM), 5.00%, 1/1/32 | 1,215 | 1,264,001 | |
(AGM), 5.00%, 1/1/33 | 1,405 | 1,461,200 | |
(AGM), 5.00%, 7/1/34 | 2,810 | 2,921,922 | |
Proviso Township High School District No. 209, IL, (AGM), 4.00%, 12/1/38 | 5,000 | 5,173,700 | |
$ 16,517,449 |
5
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Insured - Hospital — 0.2% | |||
Grand Forks, ND, (Altru Health System), (AGM), 3.00%, 12/1/46 | $ | 3,250 | $ 2,597,953 |
$ 2,597,953 | |||
Insured - Other Revenue — 2.1% | |||
Harris County-Houston Sports Authority, TX: | |||
(AGM), (NPFG), 0.00%, 11/15/34 | $ | 12,700 | $ 6,985,000 |
(NPFG), 0.00%, 11/15/26 | 9,395 | 7,868,124 | |
(NPFG), 0.00%, 11/15/28 | 9,600 | 7,333,248 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/26 | 1,115 | 981,256 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/28 | 400 | 329,004 | |
New York City Industrial Development Agency, NY, (Queens Baseball Stadium), (AGM), 3.00%, 1/1/40 | 1,750 | 1,509,060 | |
New York City Industrial Development Agency, NY, (Yankee Stadium), (AGC), 0.00%, 3/1/34 | 3,500 | 2,187,465 | |
$ 27,193,157 | |||
Insured - Special Tax Revenue — 2.0% | |||
Illinois Sports Facilities Authority: | |||
(AMBAC), 0.00%, 6/15/25 | $ | 750 | $ 673,860 |
(AMBAC), 0.00%, 6/15/26 | 2,380 | 2,058,367 | |
Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 7.00%, 10/1/39 | 14,500 | 18,482,860 | |
Tolomato Community Development District, FL: | |||
(AGM), 3.75%, 5/1/39 | 2,515 | 2,540,552 | |
(AGM), 3.75%, 5/1/40 | 2,985 | 3,011,626 | |
$ 26,767,265 | |||
Insured - Transportation — 1.5% | |||
Chicago, IL, (O'Hare International Airport): | |||
(AGM), 5.25%, 1/1/32 | $ | 1,500 | $ 1,525,245 |
(AGM), 5.25%, 1/1/33 | 650 | 660,940 | |
(AGM), 5.50%, 1/1/43 | 1,355 | 1,379,105 | |
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/37 | 6,665 | 3,335,099 | |
Foothill/Eastern Transportation Corridor Agency, CA, (AGM), 5.625%, (0.00% until 1/15/24), 1/15/32 | 1,955 | 2,084,949 | |
Ohio, (Portsmouth Gateway Group, LLC): | |||
(AGM), (AMT), 5.00%, 12/31/27 | 1,150 | 1,220,691 | |
(AGM), (AMT), 5.00%, 12/31/28 | 1,600 | 1,693,888 | |
Philadelphia, PA, Airport Revenue, (AGM), (AMT), 4.00%, 7/1/46 | 1,095 | 1,045,670 | |
Texas Turnpike Authority, (AMBAC), 0.00%, 8/15/30 | 9,440 | 7,064,518 | |
$ 20,010,105 |
Security | Principal Amount (000's omitted) | Value | |
Insured - Water and Sewer — 0.6% | |||
Jefferson County, AL, Sewer Revenue: | |||
(AGM), 0.00%, 10/1/27 | $ | 2,155 | $ 1,714,022 |
(AGM), 0.00%, 10/1/28 | 3,965 | 2,953,370 | |
(AGM), 0.00%, 10/1/29 | 3,035 | 2,111,996 | |
(AGM), 0.00%, 10/1/30 | 2,580 | 1,673,259 | |
$ 8,452,647 | |||
Lease Revenue/Certificates of Participation — 1.6% | |||
Charleston Educational Excellence Financing Corp., SC, (Charleston County School District), Prerefunded to 12/1/23, 5.00%, 12/1/29(5) | $ | 10,875 | $ 11,339,689 |
New Jersey Economic Development Authority, (School Facilities Construction): | |||
5.00%, 6/15/43 | 1,530 | 1,607,938 | |
5.00%, 6/15/44 | 8,290 | 8,707,484 | |
$ 21,655,111 | |||
Nursing Home — 0.0%(2) | |||
Mississippi Business Finance Corp., (Magnolia Healthcare), 7.99%, 7/1/25 | $ | 405 | $ 406,211 |
$ 406,211 | |||
Other Revenue — 3.1% | |||
Buckeye Tobacco Settlement Financing Authority, OH, 5.00%, 6/1/55 | $ | 10,300 | $ 10,032,612 |
Central Falls Detention Facility Corp., RI, 7.25%, 7/15/35(6) | 6,250 | 1,125,000 | |
Kalispel Tribe of Indians, WA, 5.25%, 1/1/38(1) | 1,260 | 1,363,308 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place): | |||
4.00%, 12/15/47 | 4,060 | 3,764,635 | |
4.00%, 6/15/50 | 5,000 | 4,603,250 | |
Military Installation Development Authority, UT, 4.00%, 6/1/41 | 1,500 | 1,250,325 | |
Morongo Band of Mission Indians, CA, 5.00%, 10/1/42(1) | 2,040 | 2,182,841 | |
New York City Transitional Finance Authority, NY, (Building Aid), 5.00%, 7/15/37(5) | 10,000 | 10,509,800 | |
Salt Verde Financial Corp., AZ, Senior Gas Revenue, 5.00%, 12/1/37 | 5,105 | 5,592,323 | |
Will and Kankakee Counties Community Unit School District No. 255-U, IL, 4.00%, 6/1/30 | 700 | 723,492 | |
$ 41,147,586 |
6
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care — 13.3% | |||
Albemarle County Economic Development Authority, VA, (Westminster-Canterbury of the Blue Ridge), 5.00%, 1/1/42 | $ | 1,350 | $ 1,377,338 |
Atlantic Beach, FL, (Fleet Landing): | |||
5.00%, 11/15/37 | 7,945 | 8,089,122 | |
5.00%, 11/15/38 | 1,000 | 1,063,160 | |
California Municipal Finance Authority, (Mt. San Antonio Gardens), 4.00%, 11/15/52 | 1,000 | 897,550 | |
California Public Finance Authority, (Enso Village): | |||
Green Bonds, 3.125%, 5/15/29(1) | 360 | 338,105 | |
Green Bonds, 5.00%, 11/15/51(1) | 1,500 | 1,490,790 | |
Centerville, OH, (Graceworks Lutheran Services): | |||
5.25%, 11/1/37 | 3,250 | 3,308,890 | |
5.25%, 11/1/47 | 3,190 | 3,203,557 | |
Clackamas County Hospital Facility Authority, OR, (Mary's Woods at Marylhurst), 5.00%, 5/15/48 | 425 | 425,740 | |
Clackamas County Hospital Facility Authority, OR, (Rose Villa): | |||
5.25%, 11/15/50 | 250 | 254,070 | |
5.375%, 11/15/55 | 300 | 305,952 | |
Colorado Health Facilities Authority, (Aberdeen Ridge): | |||
5.00%, 5/15/44 | 2,250 | 2,043,225 | |
5.00%, 5/15/58 | 2,525 | 2,144,331 | |
Colorado Health Facilities Authority, (Christian Living Neighborhoods), 5.00%, 1/1/38 | 1,210 | 1,250,039 | |
Colorado Health Facilities Authority, (Frasier Meadows Retirement Community), 5.25%, 5/15/37 | 750 | 794,445 | |
Connecticut Health and Educational Facilities Authority, (Church Home of Hartford, Inc.), 5.00%, 9/1/46(1) | 1,000 | 1,010,770 | |
District of Columbia, (Ingleside at Rock Creek), 5.00%, 7/1/32 | 1,600 | 1,617,280 | |
Florida Development Finance Corp., (Mayflower Retirement Community), 4.00%, 6/1/41(1) | 105 | 91,130 | |
Florida Development Finance Corp., (The Glenridge on Palmer Ranch), 5.00%, 6/1/51 | 2,000 | 1,847,460 | |
Franklin County Industrial Development Authority, PA, (Menno-Haven, Inc.), 5.00%, 12/1/38 | 1,000 | 1,000,510 | |
Fulton County Residential Care Facilities for the Elderly Authority, GA, (Canterbury Court), 4.00%, 4/1/51(1) | 10,000 | 8,087,300 | |
Hanover County Economic Development Authority, VA, (Covenant Woods), 5.00%, 7/1/38 | 125 | 129,473 | |
Harris County Cultural Education Facilities Finance Corp., TX, (Brazos Presbyterian Homes, Inc.): | |||
5.75%, 1/1/28 | 415 | 422,063 | |
6.375%, 1/1/33 | 655 | 666,987 | |
Hawaii Department of Budget and Finance, (Kahala Senior Living Community, Inc.): | |||
5.125%, 11/15/32 | 525 | 532,749 |
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Hawaii Department of Budget and Finance, (Kahala Senior Living Community, Inc.): (continued) | |||
5.25%, 11/15/37 | $ | 480 | $ 486,941 |
Howard County, MD, (Vantage House), 5.00%, 4/1/36 | 1,725 | 1,622,621 | |
Illinois Finance Authority, (Plymouth Place, Inc.), 5.00%, 5/15/41 | 400 | 403,464 | |
Iowa Finance Authority, (Lifespace Communities, Inc.): | |||
4.125%, 5/15/38 | 1,500 | 1,403,595 | |
5.00%, 5/15/43 | 3,250 | 3,278,697 | |
5.00%, 5/15/55 | 2,095 | 2,096,257 | |
Maryland Health and Higher Educational Facilities Authority, (Edenwald), 5.25%, 1/1/37 | 2,500 | 2,615,975 | |
Massachusetts Development Finance Agency, (Linden Ponds, Inc.): | |||
5.00%, 11/15/33(1) | 1,550 | 1,665,056 | |
5.00%, 11/15/38(1) | 1,010 | 1,061,621 | |
Massachusetts Development Finance Agency, (NewBridge on the Charles, Inc.): | |||
5.00%, 10/1/37(1) | 1,000 | 1,059,270 | |
5.00%, 10/1/47(1) | 1,280 | 1,354,483 | |
5.00%, 10/1/57(1) | 2,410 | 2,549,708 | |
Massachusetts Development Finance Agency, (Orchard Cove, Inc.), 5.00%, 10/1/39 | 370 | 392,748 | |
Massachusetts Development Finance Agency, (Salem Community Corp.), 5.125%, 1/1/40(7) | 1,020 | 1,032,709 | |
Mesquite Health Facilities Development Corp., TX, (Christian Care Centers), 5.125%, 2/15/30(6) | 25 | 19,500 | |
Missouri Health and Educational Facilities Authority, (Bethesda Health Group, Inc.), 5.00%, 8/1/40 | 1,300 | 1,341,665 | |
Montgomery County Industrial Development Authority, PA, (Whitemarsh Continuing Care Retirement Community), 5.25%, 1/1/48 | 9,045 | 9,220,111 | |
Multnomah County Hospital Facilities Authority, OR, (Mirabella at South Waterfront): | |||
5.125%, 10/1/34 | 2,500 | 2,553,550 | |
5.40%, 10/1/44 | 1,770 | 1,801,878 | |
Multnomah County Hospital Facilities Authority, OR, (Terwilliger Plaza), 4.00%, 12/1/51 | 3,200 | 2,623,200 | |
National Finance Authority, NH, (The Vista): | |||
5.25%, 7/1/39(1) | 585 | 556,984 | |
5.625%, 7/1/46(1) | 555 | 538,206 | |
5.75%, 7/1/54(1) | 1,745 | 1,697,501 | |
New Hampshire Health and Education Facilities Authority, (Kendal at Hanover): | |||
5.00%, 10/1/40 | 815 | 856,712 | |
5.00%, 10/1/46 | 1,000 | 1,044,560 | |
New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village), 5.00%, 1/1/37 | 6,320 | 6,461,821 |
7
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge): | |||
4.00%, 1/1/25 | $ | 1,600 | $ 1,597,520 |
4.375%, 1/1/39 | 1,250 | 1,186,713 | |
5.00%, 1/1/49 | 6,000 | 6,008,340 | |
North Carolina Medical Care Commission, (Deerfield Episcopal Retirement Community, Inc.), 5.00%, 11/1/37 | 1,675 | 1,792,250 | |
North Carolina Medical Care Commission, (Pennybyrn at Maryfield), 5.00%, 10/1/45 | 1,000 | 997,210 | |
Palm Beach County Health Facilities Authority, FL, (Lifespace Communities, Inc.), 5.00%, 5/15/53 | 2,485 | 2,489,572 | |
Palm Beach County Health Facilities Authority, FL, (Sinai Residences of Boca Raton): | |||
7.25%, 6/1/34 | 75 | 76,839 | |
7.25%, 6/1/39 | 1,190 | 1,219,179 | |
7.50%, 6/1/49 | 6,855 | 7,024,387 | |
Palm Beach County Health Facilities Authority, FL, (Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion), 5.00%, 6/1/55 | 6,800 | 6,917,232 | |
Palm Beach County Health Facilities Authority, FL, (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4.25%, 6/1/56 | 2,460 | 2,241,650 | |
Public Finance Authority, WI, (Church Home of Hartford, Inc.), 5.00%, 9/1/30(1) | 770 | 785,877 | |
Salem Hospital Facility Authority, OR, (Capital Manor), 4.00%, 5/15/57 | 1,000 | 886,550 | |
South Carolina Jobs-Economic Development Authority, (Kiawah Life Plan Village, Inc.), 8.75%, 7/1/25(1) | 1,445 | 1,432,226 | |
South Carolina Jobs-Economic Development Authority, (South Carolina Episcopal Home at Still Hopes), 5.00%, 4/1/30 | 1,945 | 2,038,905 | |
St. Johns County Industrial Development Authority, FL, (Vicar's Landing), 4.00%, 12/15/46 | 500 | 430,260 | |
St. Louis County Industrial Development Authority, MO, (Friendship Village of St. Louis Obligated Group), 5.00%, 9/1/38 | 1,250 | 1,279,163 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks): | |||
6.625%, 11/15/41 | 725 | 772,821 | |
6.75%, 11/15/51 | 3,250 | 3,448,672 | |
6.875%, 11/15/55 | 200 | 213,336 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (Trinity Terrace): | |||
5.00%, 10/1/34 | 2,130 | 2,197,201 | |
5.00%, 10/1/44 | 5,410 | 5,542,978 |
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Tempe Industrial Development Authority, AZ, (Friendship Village of Tempe): | |||
4.00%, 12/1/46 | $ | 920 | $ 819,297 |
4.00%, 12/1/56 | 785 | 663,231 | |
Tempe Industrial Development Authority, AZ, (Mirabella at ASU), 6.125%, 10/1/52(1) | 3,350 | 3,347,454 | |
Tompkins County Development Corp., NY, (Kendal at Ithaca, Inc.): | |||
4.25%, 7/1/32 | 1,270 | 1,275,753 | |
4.50%, 7/1/42 | 1,270 | 1,276,261 | |
Warren County, OH, (Otterbein Homes Obligated Group): | |||
5.00%, 7/1/39 | 1,975 | 2,043,967 | |
5.50%, 7/1/39 | 500 | 518,515 | |
Washington Housing Finance Commission, (Bayview Manor Homes): | |||
5.00%, 7/1/36(1) | 1,500 | 1,507,725 | |
5.00%, 7/1/46(1) | 1,250 | 1,219,100 | |
Washington Housing Finance Commission, (Horizon House): | |||
5.00%, 1/1/43(1) | 4,000 | 4,229,280 | |
5.00%, 1/1/48(1) | 4,815 | 5,075,732 | |
Washington Housing Finance Commission, (Transforming Age): | |||
5.00%, 1/1/44(1) | 2,780 | 2,673,109 | |
5.00%, 1/1/49(1) | 695 | 655,899 | |
Wayzata, MN, (Folkestone Senior Living Community): | |||
4.00%, 8/1/38 | 175 | 163,258 | |
4.00%, 8/1/39 | 125 | 115,709 | |
4.00%, 8/1/44 | 815 | 727,428 | |
West Cornwall Township Municipal Authority, PA, (Lebanon Valley Brethren Home): | |||
4.00%, 11/15/36 | 365 | 370,201 | |
4.00%, 11/15/41 | 370 | 370,866 | |
Westchester County Local Development Corp., NY, (Kendal on Hudson), 5.00%, 1/1/34 | 2,630 | 2,659,745 | |
Wisconsin Health and Educational Facilities Authority, (Oakwood Lutheran Senior Ministries), 4.00%, 1/1/47 | 5,100 | 4,229,838 | |
$ 176,652,118 | |||
Special Tax Revenue — 4.1% | |||
Aliso Viejo Community Facilities District No. 2005-01, CA, (Glenwood at Aliso Viejo), 5.00%, 9/1/38 | $ | 6,985 | $ 7,202,164 |
Cleveland-Cuyahoga County Port Authority, OH, (Flats East Bank), 4.00%, 12/1/55(1) | 400 | 336,360 |
8
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Special Tax Revenue (continued) | |||
Conroe Local Government Corp., TX, (Conroe Convention Center Hotel): | |||
3.50%, 10/1/31 | $ | 685 | $ 594,176 |
5.00%, 10/1/50 | 1,605 | 1,456,971 | |
Irvine Community Facilities District No. 2013-3, CA, (Great Park), 5.00%, 9/1/39 | 2,000 | 2,071,380 | |
Jurupa Public Financing Authority, CA, 5.00%, 9/1/33 | 600 | 631,734 | |
Lakewood Ranch Stewardship District, FL, (Villages of Lakewood Ranch South), 5.00%, 5/1/36 | 4,275 | 4,343,357 | |
Maryland Economic Development Corp., (Port Covington), 4.00%, 9/1/50 | 585 | 515,958 | |
Metropolitan Development and Housing Agency, TN, (Fifth + Broadway Development Project), 5.125%, 6/1/36(1) | 900 | 932,976 | |
Michigan Finance Authority, Detroit Financial Recovery Income Tax Revenue, 4.50%, 10/1/29 | 4,460 | 4,503,173 | |
New River Community Development District, FL, (Capital Improvements): | |||
5.00%, 5/1/13(6) | 1,005 | 10 | |
5.75%, 5/1/38 | 1,105 | 1,113,884 | |
New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 2/15/37(5) | 10,000 | 10,564,300 | |
Puerto Rico Sales Tax Financing Corp., 5.00%, 7/1/58 | 3,200 | 3,287,872 | |
Reno, NV, Sales Tax Revenue, 4.00%, 6/1/43 | 1,250 | 1,221,125 | |
South Orange County Public Financing Authority, CA, (Ladera Ranch): | |||
5.00%, 8/15/31 | 1,500 | 1,558,395 | |
5.00%, 8/15/33 | 1,000 | 1,041,230 | |
5.00%, 8/15/34 | 450 | 468,554 | |
South Village Community Development District, FL: | |||
3.50%, 5/1/32 | 790 | 771,451 | |
3.625%, 5/1/35 | 485 | 474,572 | |
3.75%, 5/1/38 | 1,010 | 991,426 | |
4.875%, 5/1/35 | 500 | 507,095 | |
5.00%, 5/1/38 | 100 | 101,863 | |
Southern Hills Plantation I Community Development District, FL: | |||
Series A1, 5.80%, 5/1/35 | 1,038 | 983,872 | |
Series A2, 5.80%, 5/1/35 | 795 | 555,625 | |
St. Louis Land Clearance for Redevelopment Authority, MO, (Kiel Opera House Renovation), 3.875%, 10/1/35 | 545 | 458,558 | |
Tolomato Community Development District, FL: | |||
3.00%, 5/1/32 | 1,540 | 1,334,333 | |
3.25%, 5/1/40 | 2,865 | 2,432,786 |
Security | Principal Amount (000's omitted) | Value | |
Special Tax Revenue (continued) | |||
Winter Garden Village at Fowler Groves Community Development District, FL, 4.125%, 5/1/37 | $ | 3,405 | $ 3,415,317 |
$ 53,870,517 | |||
Student Loan — 0.4% | |||
New Jersey Higher Education Student Assistance Authority: | |||
(AMT), 4.00%, 12/1/30 | $ | 2,370 | $ 2,392,041 |
(AMT), 4.75%, 12/1/43 | 2,765 | 2,783,415 | |
$ 5,175,456 | |||
Transportation — 23.7% | |||
Austin, TX, Airport System Revenue, (AMT), 5.00%, 11/15/41 | $ | 2,000 | $ 2,096,160 |
California Municipal Finance Authority, (LINXS Automated People Mover): | |||
(AMT), 5.00%, 12/31/36 | 1,740 | 1,833,595 | |
(AMT), 5.00%, 12/31/37 | 760 | 800,622 | |
Chesapeake Bay Bridge and Tunnel Commission, VA, 5.00%, 7/1/46 | 4,000 | 4,179,560 | |
Chicago, IL, (O'Hare International Airport): | |||
5.00%, 1/1/35 | 2,500 | 2,656,850 | |
5.00%, 1/1/38 | 5,000 | 5,302,050 | |
(AMT), 4.375%, 1/1/40 | 2,500 | 2,510,575 | |
(AMT), 5.00%, 1/1/25 | 2,555 | 2,598,077 | |
(AMT), 5.00%, 1/1/26 | 2,170 | 2,205,870 | |
(AMT), 5.00%, 7/1/33 | 500 | 532,675 | |
(AMT), 5.00%, 7/1/38 | 1,500 | 1,585,665 | |
(AMT), 5.00%, 1/1/48 | 7,000 | 7,306,390 | |
Colorado High Performance Transportation Enterprise, (U.S. 36 and I-25 Managed Lanes), (AMT), 5.75%, 1/1/44 | 2,500 | 2,536,150 | |
Dallas and Fort Worth, TX, (Dallas/Fort Worth International Airport), (AMT), 5.25%, 11/1/29 | 7,000 | 7,227,220 | |
Eagle County Air Terminal Corp., CO: | |||
(AMT), 5.00%, 5/1/37 | 1,000 | 1,068,140 | |
(AMT), 5.00%, 5/1/41 | 4,940 | 5,245,638 | |
Florida Development Finance Corp., (Brightline Florida Passenger Rail), Green Bonds, (AMT), 7.375%, 1/1/49(1) | 8,840 | 9,055,166 | |
Grand Parkway Transportation Corp., TX, 5.125%, 10/1/43 | 3,025 | 3,106,070 | |
Hidalgo County Regional Mobility Authority, TX: | |||
4.00%, 12/1/39 | 340 | 326,686 | |
4.00%, 12/1/40 | 400 | 382,272 | |
4.00%, 12/1/41 | 400 | 380,144 |
9
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Illinois Toll Highway Authority: | |||
4.00%, 1/1/44(5) | $ | 13,050 | $ 13,209,210 |
5.00%, 1/1/40(5) | 15,000 | 15,958,800 | |
Kentucky Public Transportation Infrastructure Authority, (Downtown Crossing Project): | |||
0.00%, 7/1/29 | 1,135 | 848,061 | |
0.00%, 7/1/30 | 500 | 348,065 | |
0.00%, 7/1/31 | 1,150 | 744,292 | |
Prerefunded to 7/1/23, 0.00%, 7/1/28 | 2,690 | 1,927,466 | |
Maryland Economic Development Corp., (Transportation Facilities), 5.00%, 6/1/35 | 450 | 490,050 | |
Maryland Transportation Authority: | |||
4.00%, 7/1/45 | 8,000 | 8,042,400 | |
4.00%, 7/1/50 | 4,760 | 4,715,446 | |
Memphis-Shelby County Airport Authority, TN, (AMT), 5.00%, 7/1/43 | 7,500 | 7,878,150 | |
Metropolitan Transportation Authority, NY, Green Bonds, 5.25%, 11/15/55 | 11,500 | 12,154,925 | |
Metropolitan Washington Airports Authority, D.C., (AMT), 4.00%, 10/1/38 | 565 | 560,576 | |
Mid-Bay Bridge Authority, FL: | |||
5.00%, 10/1/30 | 2,050 | 2,155,636 | |
5.00%, 10/1/35 | 5,000 | 5,238,500 | |
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.125%, 1/1/34 | 5,000 | 5,139,450 | |
New Jersey Transportation Trust Fund Authority, 4.00%, 6/15/41 | 3,000 | 2,896,980 | |
New Jersey Transportation Trust Fund Authority, (Transportation Program): | |||
5.00%, 6/15/44 | 3,200 | 3,352,576 | |
5.25%, 6/15/43 | 960 | 1,022,678 | |
New Jersey Turnpike Authority, 5.00%, 1/1/48(5) | 5,000 | 5,430,250 | |
New Orleans Aviation Board, LA, (North Terminal Project): | |||
(AMT), 5.00%, 1/1/35 | 2,000 | 2,064,180 | |
(AMT), 5.00%, 1/1/43 | 1,500 | 1,563,420 | |
New York Thruway Authority, 4.00%, 1/1/50 | 7,770 | 7,559,278 | |
New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment): | |||
(AMT), 5.00%, 7/1/41 | 1,705 | 1,757,923 | |
(AMT), 5.00%, 7/1/46 | 7,730 | 7,970,326 | |
(AMT), 5.25%, 1/1/50 | 7,520 | 7,739,659 | |
New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport): | |||
(AMT), 4.00%, 12/1/39 | 300 | 284,697 | |
(AMT), 4.00%, 12/1/41 | 300 | 281,946 | |
(AMT), 4.00%, 12/1/41 | 2,900 | 2,784,087 |
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport): (continued) | |||
(AMT), 4.00%, 12/1/42 | $ | 650 | $ 607,328 |
(AMT), 5.00%, 12/1/29 | 12,750 | 13,565,490 | |
Niagara Frontier Transportation Authority, NY, (Buffalo Niagara International Airport), (AMT), 5.00%, 4/1/28 | 470 | 485,454 | |
North East Texas Regional Mobility Authority, 5.00%, 1/1/41 | 5,250 | 5,475,172 | |
Osceola County, FL, (Osceola Parkway): | |||
5.00%, 10/1/44 | 2,000 | 2,130,900 | |
5.00%, 10/1/49 | 2,500 | 2,647,275 | |
Pennsylvania Economic Development Financing Authority, (Amtrak), (AMT), 5.00%, 11/1/41 | 5,495 | 5,564,182 | |
Port Authority of New York and New Jersey: | |||
(AMT), 4.00%, 9/1/33(5) | 12,080 | 12,360,014 | |
(AMT), 4.00%, 9/15/43 | 3,640 | 3,535,095 | |
(AMT), 4.50%, 4/1/37(5) | 10,000 | 10,021,700 | |
(AMT), 5.00%, 10/15/35 | 4,050 | 4,397,895 | |
Port Freeport, TX, (AMT), 4.00%, 6/1/51 | 1,500 | 1,444,275 | |
Salt Lake City, UT, (Salt Lake City International Airport), (AMT), 5.25%, 7/1/48 | 9,320 | 9,982,745 | |
South Jersey Port Corp., NJ: | |||
(AMT), 5.00%, 1/1/42 | 2,500 | 2,585,900 | |
(AMT), 5.00%, 1/1/48 | 5,500 | 5,646,465 | |
South Jersey Transportation Authority, 5.00%, 11/1/32 | 2,250 | 2,339,752 | |
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Managed Lanes Project): | |||
4.00%, 12/31/37 | 315 | 316,622 | |
4.00%, 12/31/38 | 585 | 587,059 | |
4.00%, 12/31/39 | 305 | 305,982 | |
5.00%, 12/31/35 | 375 | 408,105 | |
5.00%, 12/31/36 | 1,675 | 1,819,636 | |
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Segment 3C), (AMT), 5.00%, 6/30/58 | 11,865 | 12,260,579 | |
Texas Transportation Commission, (Central Texas Turnpike System), 5.00%, 8/15/42 | 16,430 | 16,910,085 | |
Texas Transportation Commission, (State Highway System): | |||
0.00%, 8/1/36 | 550 | 299,008 | |
0.00%, 8/1/46 | 2,500 | 787,750 | |
Virginia Small Business Financing Authority, (95 Express Lanes LLC), (AMT), 4.00%, 1/1/48 | 2,950 | 2,761,790 | |
Virginia Small Business Financing Authority, (Elizabeth River Crossings Opco LLC): | |||
(AMT), 4.00%, 1/1/38(7) | 3,750 | 3,683,775 | |
(AMT), 4.00%, 1/1/40(7) | 1,500 | 1,466,145 |
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Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Virginia Small Business Financing Authority, (Transform 66 P3 Project), (AMT), 5.00%, 12/31/52 | $ | 2,500 | $ 2,572,125 |
$ 314,022,905 | |||
Water and Sewer — 0.2% | |||
Great Lakes Water Authority, MI, 5.00%, 7/1/49 | $ | 1,000 | $ 1,109,580 |
Michigan Finance Authority, (Detroit Water and Sewerage Department), 5.00%, 7/1/33 | 1,905 | 1,982,114 | |
$ 3,091,694 | |||
Total Tax-Exempt Municipal Obligations (identified cost $1,303,219,151) | $1,283,713,329 |
Taxable Municipal Obligations — 5.8% |
Security | Principal Amount (000's omitted) | Value | |
Cogeneration — 0.0%(2) | |||
Northampton County Industrial Development Authority, PA, (Northampton Generating), 5.00%, 12/31/23 | $ | 230 | $ 41,343 |
$ 41,343 | |||
Education — 0.3% | |||
California Municipal Finance Authority, (Albert Einstein Academies): | |||
4.35%, 8/1/38(1) | $ | 1,100 | $ 924,957 |
4.50%, 8/1/43(1) | 1,500 | 1,188,630 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 3.15%, 4/1/37 | 1,750 | 1,450,102 | |
$ 3,563,689 | |||
Escrowed/Prerefunded — 1.4% | |||
Chicago, IL, Prerefunded to 1/1/25, 7.75%, 1/1/42 | $ | 10,316 | $ 11,542,985 |
St. Johns County Industrial Development Authority, FL, (Westminster St. Augustine), Prerefunded to 8/1/22, 5.50%, 8/1/44 | 7,335 | 7,488,302 | |
$ 19,031,287 | |||
General Obligations — 1.1% | |||
Atlantic City, NJ, 7.50%, 3/1/40 | $ | 5,440 | $ 6,719,107 |
Chicago, IL, 7.75%, 1/1/42 | 4,356 | 4,711,537 | |
Detroit, MI: | |||
3.11%, 4/1/28 | 830 | 750,743 | |
3.344%, 4/1/30 | 125 | 110,606 |
Security | Principal Amount (000's omitted) | Value | |
General Obligations (continued) | |||
Detroit, MI: (continued) | |||
3.644%, 4/1/34 | $ | 500 | $ 432,710 |
Portsmouth, VA, 2.40%, 7/15/39 | 1,175 | 946,980 | |
Puerto Rico, GO Contingent Value Instrument, 0.00%, 11/1/43 | 2,832 | 1,476,091 | |
$ 15,147,774 | |||
Hospital — 1.4% | |||
California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24 | $ | 12,750 | $ 13,517,295 |
Middleburg Heights, OH, (Southwest General Health Center), 4.074%, 8/1/47 | 6,000 | 5,418,360 | |
$ 18,935,655 | |||
Insured - General Obligations — 0.4% | |||
Detroit, MI, (AMBAC), 5.15%, 4/1/25 | $ | 4,779 | $ 4,656,762 |
Elmwood Park, IL, (AGM), 2.544%, 12/1/36 | 355 | 282,268 | |
$ 4,939,030 | |||
Special Tax Revenue — 0.6% | |||
American Samoa Economic Development Authority: | |||
2.47%, 9/1/24(1) | $ | 525 | $ 506,578 |
3.72%, 9/1/27(1) | 1,370 | 1,288,197 | |
Ohio County Commission, WV, (Fort Henry Economic Opportunity Development District - The Highlands): | |||
4.80%, 3/1/36 | 2,800 | 2,746,688 | |
5.25%, 3/1/31 | 2,905 | 2,911,798 | |
$ 7,453,261 | |||
Transportation — 0.6% | |||
New Jersey Transportation Trust Fund Authority, 5.754%, 12/15/28(8) | $ | 7,375 | $ 7,848,622 |
$ 7,848,622 | |||
Total Taxable Municipal Obligations (identified cost $75,301,856) | $ 76,960,661 | ||
Total Investments — 105.6% (identified cost $1,419,442,588) | $1,398,880,390 | ||
Other Assets, Less Liabilities — (5.6)% | $ (74,269,096) | ||
Net Assets — 100.0% | $1,324,611,294 |
11
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
(1) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At April 30, 2022, the aggregate value of these securities is $173,985,311 or 13.1% of the Fund's net assets. |
(2) | Amount is less than 0.05%. |
(3) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
(4) | Variable rate demand obligation that may be tendered at par on any day for payment the lesser of 5 business days or 7 calendar days. The stated interest rate, which generally resets weekly, is determined by the remarketing agent and represents the rate in effect at April 30, 2022. |
(5) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
(6) | Defaulted security. Issuer has defaulted on the payment of interest and/or principal. |
(7) | When-issued security. |
(8) | Build America Bond. Represents taxable municipal obligation issued pursuant to the American Recovery and Reinvestment Act of 2009 or other legislation providing for the issuance of taxable municipal debt on which the issuer receives federal support. |
At April 30, 2022, the concentration of the Fund’s investments in the various states, determined as a percentage of net assets, is as follows: | |
Texas | 13.0% |
Illinois | 12.7% |
New York | 12.2% |
Others, representing less than 10% individually | 64.8% |
The Fund invests primarily in debt securities issued by 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. At April 30, 2022, 8.5% 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 0.1% to 3.7% of total investments. |
Futures Contracts | |||||
Description | Number of Contracts | Position | Expiration Date | Notional Amount | Value/Unrealized Appreciation (Depreciation) |
Interest Rate Futures | |||||
U.S. 10-Year Treasury Note | (175) | Short | 6/21/22 | $(20,852,344) | $1,262,952 |
U.S. Long Treasury Bond | (112) | Short | 6/21/22 | (15,756,999) | 1,496,040 |
$2,758,992 |
Abbreviations: | |
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. |
LOC | – Letter of Credit |
NPFG | – National Public Finance Guarantee Corp. |
SPA | – Standby Bond Purchase Agreement |
At April 30, 2022, the Fund had sufficient cash and/or securities to cover commitments under open derivative contracts.
The Fund is subject to interest rate risk in the normal course of pursuing its investment objective. Because the Fund holds fixed-rate bonds, the value of these bonds may decrease if interest rates rise. The Fund enters into U.S. Treasury futures contracts to hedge against changes in interest rates.
Fair Value Measurements
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
• | Level 1 – quoted prices in active markets for identical investments |
12
Eaton Vance
High Yield Municipal Income Fund
April 30, 2022
Portfolio of Investments (Unaudited) — continued
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At April 30, 2022, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Corporate Bonds | $ — | $ 38,206,400 | $ — | $ 38,206,400 |
Tax-Exempt Municipal Obligations | — | 1,283,713,329 | — | 1,283,713,329 |
Taxable Municipal Obligations | — | 76,960,661 | — | 76,960,661 |
Total Investments | $ — | $1,398,880,390 | $ — | $1,398,880,390 |
Futures Contracts | $2,758,992 | $ — | $ — | $ 2,758,992 |
Total | $2,758,992 | $1,398,880,390 | $ — | $1,401,639,382 |
For information on the Fund's policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements included in its semiannual or annual report to shareholders.
13