Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited)
Corporate Bonds — 2.3% |
Security | Principal Amount (000's omitted) | Value | |
Education — 0.4% | |||
Grand Canyon University, 4.125%, 10/1/24 | $ | 5,000 | $ 4,764,500 |
$ 4,764,500 | |||
Hospital — 1.2% | |||
Boston Medical Center Corp., 4.581%, 7/1/47 | $ | 4,165 | $ 3,620,950 |
Harnett Health System, Inc., 4.25% to 4/1/25 (Put Date), 4/1/32 | 4,990 | 4,915,150 | |
Montefiore Obligated Group, 4.287%, 9/1/50 | 8,915 | 5,571,988 | |
$ 14,108,088 | |||
Other — 0.7% | |||
Morongo Band of Mission Indians, 7.00%, 10/1/39(1) | $ | 7,980 | $ 8,646,649 |
$ 8,646,649 | |||
Total Corporate Bonds (identified cost $28,866,566) | $ 27,519,237 |
Tax-Exempt Municipal Obligations — 98.2% |
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 — 4.2% | |||
Arizona Industrial Development Authority, (Doral Academy of Nevada), 5.00%, 7/15/39(1) | $ | 1,270 | $ 1,242,314 |
Arizona Industrial Development Authority, (Pinecrest Academy of Nevada), 4.00%, 7/15/50(1) | 925 | 705,719 | |
Build NYC Resource Corp., NY, (East Harlem Scholars Academy Charter School), Social Bonds, 5.75%, 6/1/52(1) | 1,500 | 1,523,415 | |
Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.): | |||
5.375%, 6/15/38(1) | 545 | 529,320 | |
5.375%, 6/15/48(1) | 1,020 | 936,503 | |
Capital Trust Agency, FL, (Liza Jackson Preparatory School, Inc.), 5.00%, 8/1/55 | 325 | 323,404 |
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
Colorado Educational and Cultural Facilities Authority, (Aspen View Academy): | |||
4.00%, 5/1/41 | $ | 100 | $ 87,489 |
4.00%, 5/1/51 | 500 | 407,395 | |
District of Columbia, (KIPP DC), 4.00%, 7/1/44 | 970 | 858,198 | |
District of Columbia, (Rocketship DC Obligated Group), 5.00%, 6/1/49(1) | 2,100 | 1,852,389 | |
Florida Development Finance Corp., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 4.00%, 7/1/51(1) | 1,000 | 846,020 | |
Florida Development Finance Corp., (River City Science Academy Project), 4.00%, 7/1/55 | 750 | 599,175 | |
Florida Higher Educational Facilities Financing Authority, (Jacksonville University), 5.00%, 6/1/48(1) | 750 | 667,545 | |
Illinois Finance Authority, (DePaul College Prep Foundation), 5.625%, 8/1/53(1) | 2,500 | 2,483,550 | |
Indiana Finance Authority, (KIPP Indianapolis, Inc.): | |||
5.00%, 7/1/40 | 145 | 139,967 | |
5.00%, 7/1/55 | 460 | 420,293 | |
Los Ranchos de Albuquerque, NM, (Albuquerque Academy), 4.00%, 9/1/40 | 1,200 | 1,162,680 | |
Maricopa County Industrial Development Authority, AZ, (Legacy Traditional Schools): | |||
4.00%, 7/1/51(1) | 1,650 | 1,232,781 | |
4.00%, 7/1/56(1) | 1,220 | 888,318 | |
Phoenix Industrial Development Authority, AZ, (Legacy Traditional Schools), 5.00%, 7/1/46(1) | 2,500 | 2,270,325 | |
Public Finance Authority, WI, (North Carolina Leadership Academy): | |||
4.00%, 6/15/29(1) | 265 | 250,494 | |
5.00%, 6/15/39(1) | 185 | 174,805 | |
5.00%, 6/15/49(1) | 260 | 232,175 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
4.00%, 4/1/52(1) | 970 | 743,253 | |
5.00%, 4/1/40(1) | 795 | 778,090 | |
5.00%, 4/1/50(1) | 2,380 | 2,210,592 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 4.00%, 4/1/54 | 2,000 | 1,624,780 | |
Tennessee State School Bond Authority: | |||
5.00%, 11/1/52 | 380 | 420,637 | |
5.00%, 11/1/52(4) | 10,000 | 11,069,400 | |
Texas Student Housing Corp., (University of North Texas): | |||
9.375%, 7/1/06(5) | 860 | 860,000 | |
11.00%, 7/1/31(5) | 2,000 | 2,000,000 |
1
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
University of California, 5.00%, 5/15/38(4) | $ | 10,000 | $ 10,006,300 |
Wisconsin Health and Educational Facilities Authority, (Hmong American Peace Academy, Ltd.), 4.00%, 3/15/40 | 750 | 671,490 | |
$ 50,218,816 | |||
Electric Utilities — 2.7% | |||
Arkansas River Power Authority, CO, 5.00%, 10/1/43 | $ | 4,235 | $ 4,248,806 |
Burke County Development Authority, GA, (Oglethorpe Power Corp.), 4.125%, 11/1/45 | 15,890 | 14,551,109 | |
Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), 3.20%, 7/1/39 | 2,210 | 1,870,986 | |
South Carolina Public Service Authority, 5.75%, 12/1/47 | 10,000 | 11,025,800 | |
$ 31,696,701 | |||
Escrowed/Prerefunded — 2.2% | |||
East Hempfield Township Industrial Development Authority, PA, (Student Services, Inc.): | |||
Prerefunded to 7/1/24, 5.00%, 7/1/34 | $ | 750 | $ 765,172 |
Prerefunded to 7/1/24, 5.00%, 7/1/39 | 1,250 | 1,275,287 | |
Illinois Finance Authority, (Plymouth Place, Inc.), Prerefunded to 5/15/25, 5.00%, 5/15/37 | 1,000 | 1,042,190 | |
Martin County Health Facilities Authority, FL, (Martin Memorial Medical Center), Prerefunded to 11/15/24, 4.25%, 11/15/41 | 3,940 | 4,000,834 | |
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 | 3,554,250 | |
New Jersey Economic Development Authority, (School Facilities Construction), Prerefunded to 12/15/28, 5.00%, 6/15/43 | 570 | 648,392 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
Prerefunded to 4/1/30, 5.00%, 4/1/40(1) | 45 | 51,935 | |
Prerefunded to 4/1/30, 5.00%, 4/1/50(1) | 130 | 150,036 | |
Prerefunded to 4/1/32, 4.00%, 4/1/52(1) | 30 | 33,661 | |
San Joaquin Hills Transportation Corridor Agency, CA, Prerefunded to 1/15/25, 5.00%, 1/15/44 | 10,000 | 10,379,800 | |
Savannah Economic Development Authority, GA, (Marshes Skidaway Island Project), Prerefunded to 1/1/24, 7.00%, 1/1/34 | 3,000 | 3,072,180 | |
Southwestern Illinois Development Authority, (Memorial Group, Inc.), Prerefunded to 11/1/23, 7.25%, 11/1/33 | 1,455 | 1,481,394 | |
$ 26,455,131 |
Security | Principal Amount (000's omitted) | Value | |
General Obligations — 13.5% | |||
Beaverton School District 48J, OR, 5.00%, 6/15/52(4) | $ | 15,000 | $ 16,549,650 |
Chicago Board of Education, IL: | |||
5.00%, 12/1/26 | 1,595 | 1,654,669 | |
5.00%, 12/1/41 | 3,550 | 3,573,004 | |
5.00%, 12/1/42 | 6,950 | 6,923,868 | |
5.00%, 12/1/46 | 5,500 | 5,454,570 | |
5.00%, 12/1/47 | 9,800 | 9,758,350 | |
Chicago, IL: | |||
5.00%, 1/1/40 | 2,000 | 2,041,220 | |
5.00%, 1/1/44 | 7,000 | 6,990,550 | |
5.25%, 1/1/38 | 6,750 | 7,259,895 | |
5.50%, 1/1/43 | 2,000 | 2,115,340 | |
Detroit, MI: | |||
5.00%, 4/1/30 | 1,400 | 1,459,710 | |
5.00%, 4/1/31 | 865 | 901,434 | |
5.50%, 4/1/45 | 1,930 | 1,988,228 | |
5.50%, 4/1/50 | 3,620 | 3,704,455 | |
Illinois: | |||
4.00%, 11/1/40 | 4,000 | 3,849,840 | |
5.00%, 5/1/33 | 9,480 | 10,180,003 | |
5.00%, 5/1/35 | 3,500 | 3,538,220 | |
5.00%, 12/1/42 | 8,125 | 8,381,831 | |
5.25%, 7/1/30 | 2,800 | 2,809,996 | |
5.50%, 5/1/39 | 1,085 | 1,188,422 | |
5.50%, 3/1/47 | 2,000 | 2,189,060 | |
5.50%, 5/1/47(6) | 2,000 | 2,189,460 | |
5.75%, 5/1/45 | 1,115 | 1,221,627 | |
Katy Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/53(6) | 12,000 | 11,813,640 | |
Leander Independent School District, 5.00%, 8/15/47(4) | 5,000 | 5,469,600 | |
New York, NY, 4.00%, 4/1/50 | 10,000 | 9,750,800 | |
Puerto Rico: | |||
0.00%, 7/1/33 | 731 | 427,392 | |
4.00%, 7/1/33 | 4,500 | 4,127,670 | |
4.00%, 7/1/41 | 7,500 | 6,316,875 | |
5.625%, 7/1/29 | 3,343 | 3,540,079 | |
5.75%, 7/1/31 | 9,280 | 9,953,458 | |
Sherwood School District No. 88J, OR, 0.00%, 6/15/37 | 3,480 | 1,880,140 | |
Ysleta Independent School District, TX, (PSF Guaranteed), 4.25%, 8/15/56 | 1,500 | 1,477,185 | |
$ 160,680,241 | |||
Hospital — 5.7% | |||
Berks County Industrial Development Authority, PA, (Tower Health Project), 3.75%, 11/1/42 | $ | 10 | $ 4,990 |
2
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
California Municipal Finance Authority, (NorthBay Healthcare Group): | |||
5.00%, 11/1/40 | $ | 550 | $ 552,354 |
5.00%, 11/1/44 | 500 | 494,225 | |
California Public Finance Authority, (Henry Mayo Newhall Hospital), 5.00%, 10/15/37 | 1,000 | 1,022,710 | |
California Statewide Communities Development Authority, (Methodist Hospital of Southern California), 5.00%, 1/1/48 | 2,400 | 2,450,112 | |
Chattanooga Health, Educational and Housing Facility Board, TN, (CommonSpirit Health), 4.00%, 8/1/44 | 1,655 | 1,557,802 | |
Colorado Health Facilities Authority, (CommonSpirit Health), 5.50%, 11/1/47 | 4,000 | 4,321,080 | |
Crawford County Hospital Authority, PA, (Meadville Medical Center), 6.00%, 6/1/46 | 3,175 | 3,244,723 | |
Decatur Hospital Authority, TX, (Wise Health System): | |||
4.00%, 9/1/34 | 1,604 | 1,427,608 | |
4.00%, 9/1/44 | 9,039 | 7,214,478 | |
Illinois Finance Authority, (Presence Health Network), 3.75%, 2/15/34 | 2,965 | 3,012,232 | |
Indiana County Hospital Authority, PA, (Indiana Regional Medical Center), Prerefunded to 6/1/23, 6.00%, 6/1/39 | 3,805 | 3,812,420 | |
Jefferson County Civic Facility Development Corp., NY, (Samaritan Medical Center), 5.00%, 11/1/37 | 4,385 | 4,267,000 | |
Massachusetts Development Finance Agency, (Boston Medical Center), Sustainability Bonds, 4.375%, 7/1/52 | 2,000 | 1,941,480 | |
Montgomery County Higher Education and Health Authority, PA, (Holy Redeemer Health System), 5.00%, 10/1/40 | 1,120 | 1,066,150 | |
Muskingum County, OH, (Genesis HealthCare System Obligated Group): | |||
5.00%, 2/15/33 | 2,775 | 2,776,054 | |
5.00%, 2/15/48 | 3,000 | 2,637,270 | |
New Jersey Health Care Facilities Financing Authority, (St. Joseph's Healthcare System Obligated Group): | |||
4.00%, 7/1/48 | 6,265 | 5,198,572 | |
5.00%, 7/1/41 | 1,750 | 1,752,013 | |
Pennsylvania Economic Development Financing Authority, (UPMC), 4.00%, 5/15/53 | 4,885 | 4,507,096 | |
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.00%, 12/1/35 | 3,100 | 2,858,634 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (Cook Children's Medical Center), 5.25%, 12/1/39(1)(4) | 7,000 | 7,039,480 |
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
Ward County, ND, (Trinity Obligated Group), 5.00%, 6/1/38 | $ | 2,500 | $ 2,262,500 |
Yavapai County Industrial Development Authority, AZ, (Yavapai Regional Medical Center), 5.25%, 8/1/33 | 2,500 | 2,506,575 | |
$ 67,927,558 | |||
Housing — 2.2% | |||
CMFA Special Finance Agency, CA, (Solana at Grand), 4.00%, 8/1/56(1) | $ | 4,000 | $ 3,298,680 |
CSCDA Community Improvement Authority, CA, Essential Housing Revenue: | |||
Social Bonds, 3.00%, 12/1/56(1) | 9,930 | 6,630,063 | |
Social Bonds, 3.00%, 3/1/57(1) | 6,100 | 4,066,992 | |
Maryland Economic Development Corp., (Morgan State University), Student Housing Revenue, 4.00%, 7/1/40 | 1,000 | 920,320 | |
Maryland Economic Development Corp., (University of Maryland), 5.75%, 7/1/53 | 2,000 | 2,136,320 | |
National Finance Authority, NH, Municipal Certificates, Series 2022-2, Class A, 4.00%, 10/20/36 | 6,951 | 6,616,662 | |
Public Finance Authority, WI, (University of Hawaii Foundation), Green and Social Bonds, 4.00%, 7/1/51(1) | 2,500 | 1,907,350 | |
$ 25,576,387 | |||
Industrial Development Revenue — 14.2% | |||
Arkansas Development Finance Authority, (Big River Steel), (AMT), 4.50%, 9/1/49(1) | $ | 8,950 | $ 8,032,714 |
Arkansas Development Finance Authority, (United States Steel Corp.), Green Bonds, (AMT), 5.45%, 9/1/52(1) | 11,200 | 11,182,752 | |
Henderson, KY, (Pratt Paper, LLC): | |||
(AMT), 4.45%, 1/1/42(1) | 2,500 | 2,351,600 | |
(AMT), 4.70%, 1/1/52(1) | 4,500 | 4,172,625 | |
Hoover Industrial Development Board, AL, (United States Steel Corp.), (AMT), 5.75%, 10/1/49 | 2,500 | 2,538,650 | |
Houston, TX, (United Airlines, Inc.), (AMT), 4.00%, 7/15/41 | 8,730 | 7,575,545 | |
Iowa Finance Authority, (Iowa Fertilizer Co.), 5.00%, 12/1/50 | 14,380 | 14,294,151 | |
Jefferson County Port Authority, OH, (JSW Steel USA Ohio, Inc.), (AMT), 3.50%, 12/1/51(1) | 5,250 | 3,692,955 | |
Louisiana Public Facilities Authority, (Cleco Power LLC), 4.25%, 12/1/38 | 4,050 | 3,878,888 | |
Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35(1) | 1,880 | 1,892,709 |
3
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Industrial Development Revenue (continued) | |||
Maricopa County Industrial Development Authority, AZ, (Commercial Metals Co.), (AMT), 4.00%, 10/15/47(1) | $ | 9,000 | $ 7,471,080 |
Maricopa County Pollution Control Corp., AZ, (El Paso Electric Co.), 4.50%, 8/1/42 | 6,500 | 6,375,070 | |
National Finance Authority, NH, (Covanta): | |||
4.625%, 11/1/42(1) | 6,335 | 5,348,134 | |
(AMT), 4.875%, 11/1/42(1) | 6,965 | 6,078,634 | |
Green Bonds, (AMT), 3.75% to 7/2/40 (Put Date), 7/1/45(1) | 8,890 | 6,771,958 | |
New Hampshire Business Finance Authority, (Casella Waste Systems, Inc.), 2.95%, 4/1/29(1) | 480 | 430,142 | |
New Jersey Economic Development Authority, (Continental Airlines): | |||
(AMT), 5.25%, 9/15/29 | 8,285 | 8,340,095 | |
(AMT), 5.50%, 6/1/33 | 4,375 | 4,421,988 | |
(AMT), 5.625%, 11/15/30 | 3,860 | 3,917,514 | |
New York State Environmental Facilities Corp., (Casella Waste Systems, Inc.), (AMT), 3.125% to 6/1/26 (Put Date), 12/1/44(1) | 2,000 | 1,902,320 | |
New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment): | |||
(AMT), 4.375%, 10/1/45 | 10,000 | 9,538,900 | |
(AMT), 5.00%, 10/1/40 | 21,725 | 22,300,930 | |
Ohio Air Quality Development Authority, (Pratt Paper, LLC), (AMT), 4.25%, 1/15/38(1) | 1,000 | 948,470 | |
Phenix City Industrial Development Board, AL, (MeadWestvaco Coated Board), (AMT), 4.125%, 5/15/35 | 13,570 | 13,348,402 | |
Public Finance Authority, WI, (Celanese Corp.), (AMT), 4.30%, 11/1/30 | 5,000 | 4,905,750 | |
Rockdale County Development Authority, GA, (Pratt Paper, LLC), (AMT), 4.00%, 1/1/38(1) | 6,290 | 5,833,157 | |
Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), 4.625% to 4/3/28 (Put Date), 4/1/36(1) | 475 | 468,312 | |
Virginia Small Business Financing Authority, (Covanta), (AMT), 5.00% to 7/1/38 (Put Date), 1/1/48(1) | 1,440 | 1,305,806 | |
$ 169,319,251 | |||
Insured - Escrowed/Prerefunded — 0.9% | |||
North Texas Tollway Authority, (AGC), Prerefunded to 1/1/25, 6.20%, 1/1/42 | $ | 10,000 | $ 10,520,000 |
$ 10,520,000 |
Security | Principal Amount (000's omitted) | Value | |
Insured - General Obligations — 0.4% | |||
Proviso Township High School District No. 209, IL, (AGM), 4.00%, 12/1/38 | $ | 5,000 | $ 5,056,050 |
$ 5,056,050 | |||
Insured - Hospital — 0.3% | |||
California Statewide Communities Development Authority, (Enloe University Medical Center), (AGM), 5.25%, 8/15/52 | $ | 600 | $ 643,836 |
Grand Forks, ND, (Altru Health System), (AGM), 3.00%, 12/1/51 | 4,585 | 3,401,887 | |
$ 4,045,723 | |||
Insured - Other Revenue — 0.2% | |||
New York City Industrial Development Agency, NY, (Yankee Stadium), (AGC), 0.00%, 3/1/34 | $ | 3,500 | $ 2,303,560 |
$ 2,303,560 | |||
Insured - Special Tax Revenue — 4.7% | |||
Harris County-Houston Sports Authority, TX: | |||
(AGM), (NPFG), 0.00%, 11/15/34 | $ | 12,700 | $ 7,433,945 |
(NPFG), 0.00%, 11/15/26 | 9,395 | 8,237,160 | |
(NPFG), 0.00%, 11/15/28 | 9,605 | 7,822,120 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/26 | 1,115 | 1,004,983 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/28 | 400 | 342,256 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place Expansion): | |||
(AGM), 0.00%, 12/15/56 | 10,000 | 1,881,900 | |
(BAM), 4.00%, 12/15/42 | 4,060 | 3,810,513 | |
Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 7.00%, 10/1/39 | 14,500 | 17,850,805 | |
Newark, NJ, (Mulberry Pedestrian Bridge Redevelopment), (AGM), 5.375%, 11/15/52 | 2,000 | 2,245,380 | |
Tolomato Community Development District, FL: | |||
(AGM), 3.75%, 5/1/39 | 2,515 | 2,449,585 | |
(AGM), 3.75%, 5/1/40 | 2,985 | 2,856,018 | |
$ 55,934,665 | |||
Insured - Transportation — 1.3% | |||
Chicago, IL, (O'Hare International Airport), (AGM), 5.50%, 1/1/43 | $ | 1,355 | $ 1,357,629 |
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/37 | 6,665 | 3,354,961 | |
Foothill/Eastern Transportation Corridor Agency, CA, (AGM), 5.625%, (0.00% until 1/15/24), 1/15/32 | 1,955 | 2,255,718 |
4
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Insured - Transportation (continued) | |||
Greater Asheville Regional Airport Authority, NC, (AGM), (AMT), 5.25%, 7/1/53(6) | $ | 1,500 | $ 1,605,671 |
Texas Turnpike Authority, (AMBAC), 0.00%, 8/15/30 | 9,440 | 7,413,610 | |
$ 15,987,589 | |||
Insured - Water and Sewer — 0.7% | |||
Jefferson County, AL, Sewer Revenue: | |||
(AGM), 0.00%, 10/1/27 | $ | 2,155 | $ 1,754,623 |
(AGM), 0.00%, 10/1/28 | 3,965 | 3,024,462 | |
(AGM), 0.00%, 10/1/29 | 3,035 | 2,163,651 | |
(AGM), 0.00%, 10/1/30 | 2,580 | 1,714,823 | |
$ 8,657,559 | |||
Lease Revenue/Certificates of Participation — 2.6% | |||
Baltimore, MD, (Harbor Point), 5.00%, 6/1/51 | $ | 1,600 | $ 1,537,200 |
New Jersey Economic Development Authority, (Portal North Bridge), 5.25%, 11/1/47 | 9,100 | 9,928,191 | |
New Jersey Economic Development Authority, (School Facilities Construction): | |||
5.00%, 6/15/43 | 960 | 1,009,334 | |
5.00%, 6/15/44 | 8,290 | 8,763,110 | |
New Jersey Transportation Trust Fund Authority, (Transportation Program): | |||
4.00%, 6/15/39 | 3,150 | 3,158,915 | |
4.00%, 6/15/50 | 5,000 | 4,726,900 | |
5.50%, 6/15/50 | 1,750 | 1,940,925 | |
$ 31,064,575 | |||
Nursing Home — 0.0%(2) | |||
Mississippi Business Finance Corp., (Magnolia Healthcare), 7.99%, 7/1/25 | $ | 315 | $ 315,491 |
$ 315,491 | |||
Other Revenue — 3.3% | |||
Buckeye Tobacco Settlement Financing Authority, OH, 5.00%, 6/1/55 | $ | 26,955 | $ 25,162,762 |
Central Falls Detention Facility Corp., RI, 7.25%, 7/15/35(5) | 6,250 | 1,125,000 | |
Golden State Tobacco Securitization Corp., CA, 5.00%, 6/1/51 | 2,940 | 3,079,709 | |
Kalispel Tribe of Indians, WA, Series A, 5.25%, 1/1/38(1) | 1,260 | 1,300,748 | |
Military Installation Development Authority, UT, 4.00%, 6/1/41 | 1,500 | 1,210,065 |
Security | Principal Amount (000's omitted) | Value | |
Other Revenue (continued) | |||
Morongo Band of Mission Indians, CA, 5.00%, 10/1/42(1) | $ | 2,040 | $ 2,030,127 |
Salt Verde Financial Corp., AZ, Senior Gas Revenue, 5.00%, 12/1/37 | 5,465 | 5,669,391 | |
$ 39,577,802 | |||
Senior Living/Life Care — 9.1% | |||
California Public Finance Authority, (Enso Village), Green Bonds, 3.125%, 5/15/29(1) | $ | 360 | $ 332,640 |
Atlantic Beach, FL, (Fleet Landing): | |||
5.00%, 11/15/37 | 7,945 | 7,444,862 | |
5.00%, 11/15/38 | 1,000 | 931,380 | |
California Municipal Finance Authority, (Mt. San Antonio Gardens), 4.00%, 11/15/52 | 880 | 626,525 | |
Centerville, OH, (Graceworks Lutheran Services), 5.25%, 11/1/37 | 3,250 | 3,016,130 | |
Clackamas County Hospital Facility Authority, OR, (Mary's Woods at Marylhurst), 5.00%, 5/15/48 | 425 | 358,194 | |
Clackamas County Hospital Facility Authority, OR, (Rose Villa): | |||
5.25%, 11/15/50 | 250 | 221,210 | |
5.375%, 11/15/55 | 300 | 266,307 | |
Colorado Health Facilities Authority, (Aberdeen Ridge): | |||
5.00%, 5/15/44 | 2,250 | 1,806,638 | |
5.00%, 5/15/58 | 2,525 | 1,855,496 | |
Colorado Health Facilities Authority, (Frasier Meadows Retirement Community), 5.25%, 5/15/37 | 750 | 745,568 | |
Connecticut Health and Educational Facilities Authority, (Church Home of Hartford, Inc.), 5.00%, 9/1/46(1) | 1,000 | 841,030 | |
District of Columbia, (Ingleside at Rock Creek), 5.00%, 7/1/32 | 1,600 | 1,558,592 | |
Franklin County Industrial Development Authority, PA, (Menno-Haven, Inc.), 5.00%, 12/1/38 | 1,000 | 883,890 | |
Hanover County Economic Development Authority, VA, (Covenant Woods), 5.00%, 7/1/38 | 125 | 119,111 | |
Harris County Cultural Education Facilities Finance Corp., TX, (Brazos Presbyterian Homes, Inc.): | |||
5.75%, 1/1/28 | 415 | 415,137 | |
6.375%, 1/1/33 | 60 | 60,040 | |
Howard County, MD, (Vantage House), 5.00%, 4/1/36 | 1,725 | 1,545,617 | |
Illinois Finance Authority, (Plymouth Place, Inc.), 5.00%, 5/15/41 | 400 | 342,872 | |
Iowa Finance Authority, (Lifespace Communities, Inc.): | |||
4.125%, 5/15/38 | 1,500 | 1,117,680 | |
5.00%, 5/15/43 | 2,750 | 2,125,365 | |
Massachusetts Development Finance Agency, (Linden Ponds, Inc.): | |||
5.00%, 11/15/33(1) | 1,550 | 1,625,919 |
5
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Massachusetts Development Finance Agency, (Linden Ponds, Inc.): (continued) | |||
5.00%, 11/15/38(1) | $ | 1,010 | $ 1,035,311 |
Massachusetts Development Finance Agency, (NewBridge on the Charles, Inc.): | |||
5.00%, 10/1/37(1) | 1,100 | 1,103,828 | |
5.00%, 10/1/47(1) | 1,280 | 1,196,134 | |
5.00%, 10/1/57(1) | 2,410 | 2,163,337 | |
Massachusetts Development Finance Agency, (Orchard Cove, Inc.), 5.00%, 10/1/39 | 370 | 366,711 | |
Massachusetts Development Finance Agency, (Salem Community Corp.), 5.125%, 1/1/40 | 1,020 | 934,748 | |
Mesquite Health Facilities Development Corp., TX, (Christian Care Centers), 5.125%, 2/15/30(5) | 10 | 290 | |
Missouri Health and Educational Facilities Authority, (Bethesda Health Group, Inc.), 5.00%, 8/1/40 | 1,300 | 1,246,232 | |
Montgomery County Industrial Development Authority, PA, (Whitemarsh Continuing Care Retirement Community), 5.25%, 1/1/48 | 9,045 | 7,712,943 | |
Multnomah County Hospital Facilities Authority, OR, (Mirabella at South Waterfront): | |||
5.125%, 10/1/34 | 2,500 | 2,388,525 | |
5.40%, 10/1/44 | 1,770 | 1,559,476 | |
National Finance Authority, NH, (The Vista): | |||
5.25%, 7/1/39(1) | 585 | 530,384 | |
5.625%, 7/1/46(1) | 555 | 502,736 | |
5.75%, 7/1/54(1) | 1,745 | 1,570,901 | |
New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village), 5.00%, 1/1/37 | 6,320 | 5,937,703 | |
New Hope Cultural Education Facilities Finance Corp., TX, (The Outlook at Windhaven), 6.75%, 10/1/52 | 15,000 | 13,588,950 | |
Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge): | |||
4.00%, 1/1/25 | 1,600 | 1,537,264 | |
4.375%, 1/1/39 | 1,250 | 989,200 | |
5.00%, 1/1/49 | 6,000 | 4,702,740 | |
Palm Beach County Health Facilities Authority, FL, (Green Cay Life Plan Village), 11.50%, 7/1/27(1) | 6,000 | 5,797,500 | |
Palm Beach County Health Facilities Authority, FL, (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4.25%, 6/1/56 | 1,835 | 1,316,484 | |
Public Finance Authority, WI, (Church Home of Hartford, Inc.), 5.00%, 9/1/30(1) | 770 | 747,870 | |
South Carolina Jobs-Economic Development Authority, (Kiawah Life Plan Village, Inc.), 8.75%, 7/1/25(1) | 1,445 | 1,557,768 | |
South Carolina Jobs-Economic Development Authority, (South Carolina Episcopal Home at Still Hopes): | |||
5.00%, 4/1/30 | 1,945 | 1,910,379 |
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
South Carolina Jobs-Economic Development Authority, (South Carolina Episcopal Home at Still Hopes): (continued) | |||
5.00%, 4/1/38 | $ | 2,500 | $ 2,295,000 |
St. Louis County Industrial Development Authority, MO, (Friendship Village of St. Louis), 5.00%, 9/1/38 | 1,250 | 1,167,300 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks): | |||
6.625%, 11/15/41 | 725 | 681,268 | |
6.75%, 11/15/51 | 3,250 | 2,954,022 | |
6.875%, 11/15/55 | 200 | 183,266 | |
Tempe Industrial Development Authority, AZ, (Mirabella at ASU), 6.125%, 10/1/52(1) | 3,350 | 2,044,371 | |
Warren County, OH, (Otterbein Homes Obligated Group), 5.50%, 7/1/39 | 500 | 501,745 | |
Washington Housing Finance Commission, (Bayview Manor Homes): | |||
5.00%, 7/1/36(1) | 1,500 | 1,314,915 | |
5.00%, 7/1/46(1) | 1,250 | 974,788 | |
Washington Housing Finance Commission, (Horizon House), 5.00%, 1/1/48(1) | 7,225 | 5,744,597 | |
Washington Housing Finance Commission, (Transforming Age): | |||
5.00%, 1/1/44(1) | 2,780 | 2,119,889 | |
5.00%, 1/1/49(1) | 695 | 513,918 | |
$ 109,132,696 | |||
Special Tax Revenue — 11.5% | |||
Aliso Viejo Community Facilities District No. 2005-01, CA, (Glenwood at Aliso Viejo), 5.00%, 9/1/38 | $ | 6,985 | $ 7,021,392 |
Conroe Local Government Corp., TX, (Conroe Convention Center Hotel): | |||
3.50%, 10/1/31(1) | 685 | 589,895 | |
5.00%, 10/1/50(1) | 1,605 | 1,329,758 | |
Irvine Community Facilities District No. 2013-3, CA, (Great Park), 5.00%, 9/1/39 | 2,000 | 2,022,680 | |
Lakewood Ranch Stewardship District, FL, (Villages of Lakewood Ranch South), 5.00%, 5/1/36 | 3,725 | 3,746,270 | |
Maryland Economic Development Corp., (Port Covington), 4.00%, 9/1/50 | 585 | 483,514 | |
Metropolitan Development and Housing Agency, TN, (Fifth + Broadway Development Project), 5.125%, 6/1/36(1) | 900 | 913,815 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place Expansion): | |||
5.00%, 6/15/50 | 8,460 | 8,554,498 | |
5.00%, 6/15/57 | 8,755 | 8,813,221 | |
5.50%, 6/15/53 | 2,420 | 2,460,487 |
6
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Special Tax Revenue (continued) | |||
Michigan Finance Authority, Detroit Financial Recovery Income Tax Revenue, 4.50%, 10/1/29 | $ | 4,460 | $ 4,486,225 |
New River Community Development District, FL, (Capital Improvements): | |||
5.00%, 5/1/13(5) | 1,005 | 10 | |
5.75%, 5/1/38 | 1,065 | 1,073,137 | |
New York City Transitional Finance Authority, NY, Future Tax Revenue: | |||
5.00%, 11/1/46(4) | 10,000 | 11,044,000 | |
5.50%, 11/1/45(1)(4) | 10,000 | 11,544,700 | |
(SPA: JPMorgan Chase Bank, N.A.), 3.75%, 2/1/45(7) | 2,000 | 2,000,000 | |
New York Dormitory Authority, Personal Income Tax Revenue, 4.00%, 3/15/46 | 5,000 | 4,928,250 | |
New York Thruway Authority, Personal Income Tax Revenue, Green Bonds, 5.00%, 3/15/55 | 10,000 | 10,847,400 | |
Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue, 4.00%, 12/1/51 | 5,000 | 4,836,200 | |
Puerto Rico Sales Tax Financing Corp.: | |||
0.00%, 7/1/46 | 31,380 | 8,574,271 | |
0.00%, 7/1/51 | 20,000 | 4,087,800 | |
4.329%, 7/1/40 | 4,240 | 3,952,952 | |
5.00%, 7/1/58 | 24,925 | 24,067,580 | |
Reno, NV, Sales Tax Revenue, 4.00%, 6/1/43 | 1,250 | 1,187,750 | |
South Village Community Development District, FL: | |||
4.875%, 5/1/35 | 500 | 500,095 | |
5.00%, 5/1/38 | 100 | 99,682 | |
Southern Hills Plantation I Community Development District, FL: | |||
Series A1, 5.80%, 5/1/35 | 938 | 841,528 | |
Series A2, 5.80%, 5/1/35 | 795 | 536,148 | |
St. Louis Land Clearance for Redevelopment Authority, MO, (Kiel Opera House Renovation), 3.875%, 10/1/35 | 490 | 404,000 | |
Tolomato Community Development District, FL: | |||
3.00%, 5/1/32 | 1,540 | 1,328,881 | |
3.25%, 5/1/40 | 2,865 | 2,201,495 | |
Winter Garden Village at Fowler Groves Community Development District, FL, 4.125%, 5/1/37 | 3,405 | 3,137,571 | |
$ 137,615,205 | |||
Student Loan — 0.4% | |||
New Jersey Higher Education Student Assistance Authority: | |||
(AMT), 4.00%, 12/1/30 | $ | 1,795 | $ 1,791,285 |
(AMT), 4.75%, 12/1/43 | 2,765 | 2,765,857 | |
$ 4,557,142 |
Security | Principal Amount (000's omitted) | Value | |
Transportation — 17.6% | |||
Broward County, FL, Port Facilities Revenue, (AMT), 5.25%, 9/1/47 | $ | 2,000 | $ 2,145,580 |
California Municipal Finance Authority, (HumanGood - California Obligated Group), (AMT), 5.00%, 6/1/48 | 1,600 | 1,619,456 | |
California Municipal Finance Authority, (LINXS Automated People Mover), (AMT), 5.00%, 12/31/43 | 7,000 | 7,136,640 | |
Chesapeake Bay Bridge and Tunnel District, VA, (General Resolution), 5.00%, 7/1/51 | 4,000 | 4,070,720 | |
Chicago, IL, (O'Hare International Airport): | |||
(AMT), 4.375%, 1/1/40 | 2,500 | 2,500,450 | |
(AMT), 5.00%, 1/1/53 | 5,915 | 6,049,034 | |
(AMT), 5.50%, 1/1/55(4) | 4,000 | 4,316,720 | |
Colorado High Performance Transportation Enterprise, (U.S. 36 and I-25 Managed Lanes), (AMT), 5.75%, 1/1/44 | 2,500 | 2,501,700 | |
Denver City and County, CO, Airport System Revenue, (AMT), 5.00%, 11/15/53 | 8,385 | 8,786,222 | |
Grand Parkway Transportation Corp., TX, 5.125%, 10/1/43 | 3,025 | 3,033,409 | |
Hidalgo County Regional Mobility Authority, TX: | |||
4.00%, 12/1/39 | 340 | 310,223 | |
4.00%, 12/1/40 | 400 | 361,272 | |
4.00%, 12/1/41 | 400 | 359,112 | |
Kentucky Public Transportation Infrastructure Authority, (Downtown Crossing Project): | |||
0.00%, 7/1/29 | 1,135 | 860,648 | |
0.00%, 7/1/30 | 500 | 353,555 | |
0.00%, 7/1/31 | 1,150 | 756,769 | |
Prerefunded to 7/1/23, 0.00%, 7/1/28 | 2,690 | 1,965,045 | |
Metropolitan Nashville Airport Authority, TN, (AMT), 5.50%, 7/1/52 | 3,500 | 3,793,860 | |
Metropolitan Transportation Authority, NY, Green Bonds, 5.25%, 11/15/55 | 11,500 | 12,092,595 | |
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.125%, 1/1/34 | 5,000 | 5,037,250 | |
New Jersey Turnpike Authority, 5.00%, 1/1/48(1)(4) | 5,000 | 5,329,900 | |
New York Thruway Authority, 4.00%, 1/1/45 | 7,770 | 7,514,600 | |
New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment): | |||
(AMT), 5.00%, 7/1/46 | 9,435 | 9,374,239 | |
(AMT), 5.25%, 1/1/50 | 7,520 | 7,529,099 | |
New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport): | |||
(AMT), 4.00%, 12/1/41 | 150 | 138,872 | |
(AMT), 5.00%, 12/1/29 | 4,700 | 5,095,364 | |
(AMT), 5.00%, 12/1/31 | 8,050 | 8,836,404 | |
North Texas Tollway Authority, 4.125%, 1/1/40 | 5,000 | 5,048,300 |
7
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One): | |||
(AMT), 5.25%, 6/30/53 | $ | 7,510 | $ 7,785,992 |
(AMT), 5.75%, 6/30/48 | 9,750 | 10,651,582 | |
(AMT), 6.00%, 6/30/61 | 5,000 | 5,594,650 | |
Port Authority of New York and New Jersey, (AMT), 4.00%, 9/1/33(1)(4) | 12,080 | 12,164,681 | |
Port of Portland, OR, (Portland International Airport), (AMT), 5.00%, 7/1/50 | 4,710 | 4,874,567 | |
Salt Lake City, UT, (Salt Lake City International Airport), (AMT), 5.00%, 7/1/47 | 7,360 | 7,519,123 | |
South Jersey Port Corp., NJ, (AMT), 5.00%, 1/1/42 | 6,500 | 6,609,850 | |
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Managed Lanes Project), 5.00%, 12/31/35 | 375 | 397,478 | |
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Segment 3C), (AMT), 5.00%, 6/30/58 | 10,975 | 11,014,071 | |
Texas Transportation Commission, (Central Texas Turnpike System), 5.00%, 8/15/42 | 5,000 | 5,054,150 | |
Texas Transportation Commission, (State Highway System): | |||
0.00%, 8/1/36 | 550 | 290,087 | |
0.00%, 8/1/46 | 2,500 | 708,675 | |
Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/51(4) | 7,000 | 7,515,130 | |
Virginia Small Business Financing Authority, (Transform 66 P3 Project): | |||
(AMT), 4.00%, 1/1/40 | 3,220 | 2,961,402 | |
(AMT), 5.00%, 12/31/52 | 10,000 | 9,938,000 | |
$ 209,996,476 | |||
Water and Sewer — 0.5% | |||
Michigan Finance Authority, (Detroit Water and Sewerage Department), 5.00%, 7/1/33 | $ | 1,905 | $ 1,933,708 |
New York City Municipal Water Finance Authority, NY, (Water and Sewer System), 5.25%, 6/15/52(4) | 3,000 | 3,361,230 | |
$ 5,294,938 | |||
Total Tax-Exempt Municipal Obligations (identified cost $1,187,627,978) | $1,172,035,649 |
Taxable Municipal Obligations — 5.3% |
Security | Principal Amount (000's omitted) | Value | |
Cogeneration — 0.0%(2) | |||
Northampton County Industrial Development Authority, PA, (Northampton Generating), 5.00%, 12/31/23(3) | $ | 270 | $ 48,605 |
$ 48,605 | |||
Education — 0.3% | |||
California Municipal Finance Authority, (Albert Einstein Academies): | |||
4.35%, 8/1/38(1) | $ | 1,100 | $ 806,949 |
4.50%, 8/1/43(1) | 1,500 | 1,011,690 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 3.15%, 4/1/37 | 1,750 | 1,313,428 | |
$ 3,132,067 | |||
Escrowed/Prerefunded — 0.9% | |||
Chicago, IL, Prerefunded to 1/1/25, 7.75%, 1/1/42 | $ | 10,316 | $ 10,776,300 |
$ 10,776,300 | |||
General Obligations — 1.1% | |||
Atlantic City, NJ, 7.50%, 3/1/40 | $ | 5,440 | $ 6,356,422 |
Chicago, IL, 7.75%, 1/1/42 | 4,356 | 4,478,273 | |
Detroit, MI: | |||
Social Bonds, 3.11%, 4/1/28 | 830 | 716,904 | |
Social Bonds, 3.344%, 4/1/30 | 125 | 104,303 | |
Social Bonds, 3.644%, 4/1/34 | 500 | 400,630 | |
Puerto Rico, GO Contingent Value Instrument, 0.00%, 11/1/43 | 2,685 | 1,265,448 | |
$ 13,321,980 | |||
Hospital — 1.4% | |||
California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24 | $ | 12,750 | $ 12,914,730 |
Middleburg Heights, OH, (Southwest General Health Center), 4.074%, 8/1/47 | 6,000 | 4,495,800 | |
$ 17,410,530 | |||
Insured - General Obligations — 0.3% | |||
Detroit, MI, (AMBAC), 5.15%, 4/1/25 | $ | 3,268 | $ 3,194,664 |
Elmwood Park, IL, (AGM), 2.544%, 12/1/36 | 355 | 274,184 | |
$ 3,468,848 |
8
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Other Revenue — 0.1% | |||
Golden State Tobacco Securitization Corp., CA, 4.214%, 6/1/50 | $ | 1,300 | $ 1,015,846 |
$ 1,015,846 | |||
Special Tax Revenue — 0.6% | |||
American Samoa Economic Development Authority: | |||
2.47%, 9/1/24(1) | $ | 475 | $ 454,423 |
3.72%, 9/1/27(1) | 1,115 | 1,002,686 | |
Ohio County Commission, WV, (Fort Henry Economic Opportunity Development District - The Highlands): | |||
4.80%, 3/1/36 | 3,000 | 2,629,050 | |
5.25%, 3/1/31 | 2,910 | 2,793,280 | |
$ 6,879,439 | |||
Transportation — 0.6% | |||
New Jersey Transportation Trust Fund Authority, 5.754%, 12/15/28(8) | $ | 7,375 | $ 7,590,866 |
$ 7,590,866 | |||
Total Taxable Municipal Obligations (identified cost $66,028,777) | $ 63,644,481 | ||
Total Investments — 105.8% (identified cost $1,282,523,321) | $1,263,199,367 | ||
Other Assets, Less Liabilities — (5.8)% | $ (69,252,377) | ||
Net Assets — 100.0% | $1,193,946,990 |
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, 2023, the aggregate value of these securities is $189,473,030 or 15.9% 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) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
(5) | Defaulted security. Issuer has defaulted on the payment of interest and/or principal or has filed bankruptcy. |
(6) | When-issued security. |
(7) | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at April 30, 2023. |
(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, 2023, the concentration of the Fund’s investments in the various states and territories, determined as a percentage of net assets, is as follows: |
New York | 13.8% |
Illinois | 12.6% |
Texas | 12.2% |
Others, representing less than 10% individually | 64.9% |
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, 2023, 8.4% 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 0.3% to 3.2% of total investments. |
9
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
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 | 6/21/23 | $(20,160,547) | $ (637,244) |
U.S. Long Treasury Bond | (112) | Short | 6/21/23 | (14,745,500) | (721,961) |
$(1,359,205) |
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. |
NPFG | – National Public Finance Guarantee Corp. |
PSF | – Permanent School Fund |
SPA | – Standby Bond Purchase Agreement |
At April 30, 2023, 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 |
• | 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.
10
Eaton Vance
High Yield Municipal Income Fund
April 30, 2023
Portfolio of Investments (Unaudited) — continued
At April 30, 2023, 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 | $ — | $ 27,519,237 | $ — | $ 27,519,237 |
Tax-Exempt Municipal Obligations | — | 1,172,035,649 | — | 1,172,035,649 |
Taxable Municipal Obligations | — | 63,644,481 | — | 63,644,481 |
Total Investments | $ — | $1,263,199,367 | $ — | $1,263,199,367 |
Liability Description | ||||
Futures Contracts | $(1,359,205) | $ — | $ — | $ (1,359,205) |
Total | $(1,359,205) | $ — | $ — | $ (1,359,205) |
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.
11