Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited)
Corporate Bonds — 1.7% |
Security | Principal Amount (000's omitted) | Value | |
Education — 0.3% | |||
Grand Canyon University, 4.125%, 10/1/24 | $ | 5,000 | $ 4,909,950 |
$ 4,909,950 | |||
Hospital — 0.9% | |||
Boston Medical Center Corp., 4.581%, 7/1/47 | $ | 4,165 | $ 3,324,004 |
Harnett Health System, Inc., 4.25% to 4/1/25 (Put Date), 4/1/32 | 4,585 | 4,516,225 | |
Montefiore Obligated Group, 4.287%, 9/1/50 | 8,915 | 5,379,942 | |
$ 13,220,171 | |||
Other — 0.5% | |||
Morongo Band of Mission Indians, 7.00%, 10/1/39(1) | $ | 7,980 | $ 8,116,777 |
$ 8,116,777 | |||
Total Corporate Bonds (identified cost $30,319,700) | $ 26,246,898 |
Tax-Exempt Mortgage-Backed Securities — 0.4% |
Security | Principal Amount (000's omitted) | Value | |
Housing — 0.4% | |||
National Finance Authority, NH, Municipal Certificates, Series 2022-2, Class A, 4.00%, 10/20/36 | $ | 6,859 | $ 6,407,009 |
Total Tax-Exempt Mortgage-Backed Securities (identified cost $6,212,875) | $ 6,407,009 |
Tax-Exempt Municipal Obligations — 92.9% |
Security | Principal Amount (000's omitted) | Value | |
Bond Bank — 0.7% | |||
Texas Water Development Board, 5.25%, 10/15/51(2) | $ | 10,000 | $ 10,834,400 |
$ 10,834,400 | |||
Cogeneration — 0.0%(3) | |||
Northampton County Industrial Development Authority, PA, (Northampton Generating), (AMT), 5.00%, 6/30/27(4) | $ | 567 | $ 102,094 |
$ 102,094 |
Security | Principal Amount (000's omitted) | Value | |
Education — 2.9% | |||
Arizona Industrial Development Authority, (Pinecrest Academy of Nevada), 4.00%, 7/15/50(1) | $ | 925 | $ 727,078 |
Build NYC Resource Corp., NY, (East Harlem Scholars Academy Charter School), Social Bonds, 5.75%, 6/1/52(1) | 1,500 | 1,526,820 | |
California Municipal Finance Authority, (Westside Neighbourhood School), 6.375%, 6/15/64(1)(5) | 3,455 | 3,559,099 | |
Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.): | |||
5.375%, 6/15/38(1) | 545 | 534,667 | |
5.375%, 6/15/48(1) | 1,020 | 950,252 | |
Capital Trust Authority, FL, (KIPP Miami North Campus): | |||
6.00%, 6/15/54(1) | 650 | 660,374 | |
6.125%, 6/15/60(1) | 800 | 813,992 | |
Colorado Educational and Cultural Facilities Authority, (Aspen View Academy): | |||
4.00%, 5/1/41 | 100 | 85,268 | |
4.00%, 5/1/51 | 500 | 384,570 | |
District of Columbia, (KIPP DC), 4.00%, 7/1/44 | 970 | 878,277 | |
Florida Development Finance Corp., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 4.00%, 7/1/51(1) | 4,300 | 3,510,391 | |
Florida Development Finance Corp., (River City Science Academy Project), 4.00%, 7/1/55 | 750 | 572,873 | |
Florida Higher Educational Facilities Financing Authority, (Jacksonville University), 5.00%, 6/1/48(1) | 750 | 686,235 | |
Illinois Finance Authority, (DePaul College Prep Foundation), 5.625%, 8/1/53(1) | 2,500 | 2,601,200 | |
Indiana Finance Authority, (KIPP Indianapolis, Inc.): | |||
5.00%, 7/1/40 | 315 | 303,805 | |
5.00%, 7/1/55 | 460 | 415,122 | |
Maricopa County Industrial Development Authority, AZ, (Legacy Traditional Schools), 4.00%, 7/1/51(1) | 2,870 | 2,229,416 | |
Phoenix Industrial Development Authority, AZ, (Legacy Traditional Schools), 5.00%, 7/1/46(1) | 2,500 | 2,371,475 | |
Public Finance Authority, WI, (North Carolina Leadership Academy): | |||
4.00%, 6/15/29(1) | 195 | 188,670 | |
5.00%, 6/15/39(1) | 185 | 179,639 | |
5.00%, 6/15/49(1) | 260 | 238,428 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
4.00%, 4/1/52(1) | 970 | 807,001 | |
5.00%, 4/1/40(1) | 795 | 806,742 | |
5.00%, 4/1/50(1) | 2,380 | 2,345,871 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 4.00%, 4/1/54 | 2,000 | 1,544,580 |
1
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
Tennessee State School Bond Authority: | |||
5.00%, 11/1/52 | $ | 380 | $ 405,099 |
5.00%, 11/1/52(2) | 10,000 | 10,660,600 | |
Washington Housing Finance Commission, (Seattle Academy of Arts and Sciences): | |||
5.875%, 7/1/43(1) | 1,345 | 1,456,501 | |
6.125%, 7/1/53(1) | 3,525 | 3,818,209 | |
$ 45,262,254 | |||
Electric Utilities — 2.4% | |||
Arkansas River Power Authority, CO, 5.00%, 10/1/43 | $ | 4,235 | $ 4,284,592 |
Burke County Development Authority, GA, (Oglethorpe Power Corp.), 4.125%, 11/1/45 | 15,890 | 14,172,450 | |
Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), 3.20%, 7/1/39 | 5,610 | 3,610,259 | |
South Carolina Public Service Authority: | |||
5.00%, 12/1/49 | 5,000 | 4,837,200 | |
5.75%, 12/1/47 | 10,000 | 11,005,400 | |
$ 37,909,901 | |||
Escrowed/Prerefunded — 1.1% | |||
Decatur Hospital Authority, TX, (Wise Health System), Prerefunded to 9/1/31, 4.00%, 9/1/44 | $ | 9,035 | $ 9,517,740 |
East Hempfield Township Industrial Development Authority, PA, (Student Services, Inc.): | |||
Prerefunded to 7/1/24, 5.00%, 7/1/34 | 750 | 750,780 | |
Prerefunded to 7/1/24, 5.00%, 7/1/39 | 1,250 | 1,251,300 | |
Illinois Finance Authority, (Plymouth Place, Inc.), Prerefunded to 5/15/25, 5.00%, 5/15/37 | 1,000 | 1,011,830 | |
Multnomah County Hospital Facilities Authority, OR, (Mirabella at South Waterfront): | |||
Prerefunded to 10/1/24, 5.125%, 10/1/34 | 2,500 | 2,510,175 | |
Prerefunded to 10/1/24, 5.40%, 10/1/44 | 1,770 | 1,779,186 | |
New Jersey Economic Development Authority, (School Facilities Construction), Prerefunded to 12/15/28, 5.00%, 6/15/43 | 570 | 620,114 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
Prerefunded to 4/1/30, 5.00%, 4/1/40(1) | 45 | 49,631 | |
Prerefunded to 4/1/30, 5.00%, 4/1/50(1) | 130 | 143,380 | |
Prerefunded to 4/1/32, 4.00%, 4/1/52(1) | 30 | 32,143 | |
$ 17,666,279 | |||
General Obligations — 9.1% | |||
Azle Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/54 | $ | 3,350 | $ 3,145,282 |
Security | Principal Amount (000's omitted) | Value | |
General Obligations (continued) | |||
Chicago Board of Education, IL: | |||
5.00%, 12/1/41 | $ | 3,550 | $ 3,596,185 |
5.00%, 12/1/42 | 6,950 | 6,907,049 | |
5.00%, 12/1/44 | 2,305 | 2,282,849 | |
5.00%, 12/1/46 | 5,500 | 5,404,795 | |
5.00%, 12/1/46 | 2,500 | 2,456,725 | |
5.00%, 12/1/47 | 9,800 | 9,713,956 | |
6.00%, 12/1/49 | 4,375 | 4,793,075 | |
Chicago, IL: | |||
5.00%, 1/1/44 | 7,000 | 7,138,040 | |
5.25%, 1/1/38 | 6,750 | 7,245,855 | |
5.50%, 1/1/43 | 2,000 | 2,105,640 | |
Denton County, TX, 4.00%, 7/15/47(5) | 12,540 | 11,882,779 | |
Detroit, MI: | |||
5.00%, 4/1/30 | 1,400 | 1,443,428 | |
5.00%, 4/1/31 | 865 | 892,057 | |
6.00%, 5/1/43 | 1,000 | 1,109,030 | |
Humble Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/54 | 3,000 | 2,830,980 | |
Hurst-Euless-Bedford Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/50 | 8,000 | 7,530,640 | |
Illinois: | |||
5.00%, 5/1/35 | 3,500 | 3,502,975 | |
5.00%, 12/1/42 | 8,125 | 8,255,975 | |
5.50%, 5/1/39 | 1,085 | 1,172,787 | |
5.50%, 3/1/47 | 2,000 | 2,136,900 | |
5.50%, 5/1/47 | 2,000 | 2,138,380 | |
5.75%, 5/1/45 | 1,115 | 1,199,093 | |
Leander Independent School District, TX, (PSF Guaranteed), 5.00%, 8/15/47(2) | 5,000 | 5,292,100 | |
Midland Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/54 | 2,320 | 2,169,409 | |
New York, NY, 4.00%, 4/1/50 | 10,000 | 9,501,600 | |
Puerto Rico: | |||
0.00%, 7/1/33 | 731 | 479,448 | |
4.00%, 7/1/33 | 4,500 | 4,435,245 | |
4.00%, 7/1/41 | 7,555 | 7,028,799 | |
5.625%, 7/1/29 | 3,343 | 3,607,751 | |
5.75%, 7/1/31 | 8,681 | 9,693,329 | |
Ysleta Independent School District, TX, (PSF Guaranteed), 4.25%, 8/15/56 | 1,500 | 1,453,155 | |
$ 142,545,311 |
2
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Hospital — 9.5% | |||
Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group), 5.00%, 4/1/47 | $ | 7,975 | $ 8,073,412 |
Bucks County Industrial Development Authority, PA, (Grand View Hospital): | |||
5.00%, 7/1/36 | 1,200 | 1,018,668 | |
5.00%, 7/1/54 | 6,000 | 4,664,940 | |
California Municipal Finance Authority, (NorthBay Healthcare Group): | |||
5.00%, 11/1/40 | 550 | 526,796 | |
5.00%, 11/1/44 | 500 | 455,045 | |
Chattanooga Health, Educational and Housing Facility Board, TN, (CommonSpirit Health), 4.00%, 8/1/44 | 1,655 | 1,555,386 | |
Colorado Health Facilities Authority, (AdventHealth Obligated Group), 3.00%, 11/15/51 | 11,160 | 8,227,710 | |
Colorado Health Facilities Authority, (CommonSpirit Health): | |||
4.00%, 8/1/44 | 3,290 | 3,091,975 | |
5.25%, 12/1/54 | 1,000 | 1,065,840 | |
5.50%, 11/1/47 | 4,000 | 4,358,760 | |
Connecticut State Health and Educational Facilities Authority, (Connecticut Children Medical Center), 4.25%, 7/15/53 | 2,045 | 1,956,901 | |
Crawford County Hospital Authority, PA, (Meadville Medical Center), 6.00%, 6/1/46 | 3,175 | 3,197,701 | |
Doylestown Hospital Authority, PA, 5.375%, 7/1/39(1) | 1,510 | 1,516,327 | |
Fairfax County Industrial Development Authority, VA, (Inova Health System), 4.00%, 5/15/48 | 6,555 | 6,250,848 | |
Grand Forks, ND, (Altru Health System), 5.42%, 12/1/53 | 1,500 | 1,525,440 | |
Grays Harbor County Public Hospital District No. 1, WA, (Summit Pacific Medical Center), 6.875%, 12/1/53 | 2,610 | 2,646,775 | |
Illinois Finance Authority, (OSF HealthCare System), 4.125%, 5/15/47 | 4,975 | 4,664,610 | |
Jefferson County Civic Facility Development Corp., NY, (Samaritan Medical Center): | |||
4.00%, 11/1/42 | 5,500 | 4,148,320 | |
5.00%, 11/1/37 | 4,385 | 4,129,398 | |
Maryland Health and Higher Educational Facilities Authority, (Frederick Health System), 5.25%, 7/1/53 | 3,500 | 3,617,390 | |
Massachusetts Development Finance Agency, (Boston Medical Center), Sustainability Bonds, 4.375%, 7/1/52 | 3,730 | 3,523,470 | |
Michigan Finance Authority, (Henry Ford Health Detroit): | |||
Green Bonds, 4.375%, 2/28/54 | 3,000 | 2,872,500 | |
Green Bonds, 5.50%, 2/28/57 | 2,700 | 2,889,567 | |
Michigan Finance Authority, (Trinity Health Credit Group), 4.00%, 12/1/49 | 6,475 | 5,940,424 |
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
Missouri Health and Educational Facilities Authority, (Mercy Health), 5.00%, 12/1/52 | $ | 7,850 | $ 8,224,523 |
Montana Facility Finance Authority, (Bozeman Deaconess Health Services Obligated Group), 5.00%, 6/1/48 | 4,000 | 4,070,160 | |
Montgomery County Higher Education and Health Authority, PA, (Holy Redeemer Health System), 5.00%, 10/1/40 | 1,120 | 1,023,758 | |
Muskingum County, OH, (Genesis HealthCare System Obligated Group): | |||
5.00%, 2/15/33 | 2,775 | 2,740,368 | |
5.00%, 2/15/44 | 3,835 | 3,534,604 | |
New Jersey Health Care Facilities Financing Authority, (St. Joseph's Healthcare System Obligated Group): | |||
4.00%, 7/1/48 | 6,265 | 5,486,887 | |
5.00%, 7/1/41 | 1,750 | 1,746,203 | |
Norfolk Economic Development Authority, VA, (Sentara Healthcare), 4.00%, 11/1/48 | 2,545 | 2,427,701 | |
Pennsylvania Economic Development Financing Authority, (UPMC), 4.00%, 5/15/53 | 4,885 | 4,358,006 | |
Skagit County Public Hospital District No. 1, WA, 5.50%, 12/1/54 | 2,750 | 2,887,170 | |
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.00%, 12/1/35 | 3,100 | 2,910,993 | |
Virginia Commonwealth University Health System Authority, 4.00%, 7/1/54 | 13,500 | 12,533,130 | |
West Virginia Hospital Finance Authority, (Vandalia Health): | |||
6.00%, 9/1/48 | 4,000 | 4,498,040 | |
6.00%, 9/1/53 | 4,000 | 4,458,440 | |
West Virginia Hospital Finance Authority, (West Virginia Health System Obligated Group), 4.375%, 6/1/53 | 3,000 | 2,871,750 | |
Westchester County Local Development Corp., NY, (Westchester Medical Center Obligated Group), 6.25%, 11/1/52 | 560 | 624,854 | |
Wisconsin Health and Educational Facilities Authority, (Thedacare, Inc.), 3.125%, 12/15/49 | 3,765 | 2,804,360 | |
$ 149,119,150 | |||
Housing — 4.2% | |||
CMFA Special Finance Agency, CA, (Solana at Grand), 4.00%, 8/1/56(1) | $ | 4,000 | $ 3,413,520 |
CSCDA Community Improvement Authority, CA, (City of Orange Portfolio), Essential Housing Revenue, Social Bonds, 3.00%, 3/1/57(1) | 14,350 | 9,674,483 | |
CSCDA Community Improvement Authority, CA, (Pasadena Portfolio), Essential Housing Revenue, Social Bonds, 3.00%, 12/1/56(1) | 9,930 | 6,849,912 |
3
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Housing (continued) | |||
Indiana Finance Authority, (CHF-Tippecanoe, LLC - Student Housing), 5.125%, 6/1/58 | $ | 1,650 | $ 1,665,741 |
King County Housing Authority, WA, (Kirkland Heights Project), 4.625%, 1/1/41 | 2,000 | 2,050,540 | |
Louisiana Housing Corp., LA, (Home Ownership Program), (FHLMC), (FNMA), (GNMA), 4.95%, 12/1/53 | 1,000 | 1,010,810 | |
Maine Housing Authority: | |||
Social Bonds, 4.65%, 11/15/48 | 1,000 | 1,005,750 | |
Social Bonds, 4.70%, 11/15/53 | 2,500 | 2,498,550 | |
Maryland Economic Development Corp., (Morgan State University), Student Housing Revenue, 5.75%, 7/1/53 | 2,000 | 2,148,940 | |
Nebraska Investment Finance Authority, Social Bonds, (FHLMC), (FNMA), (GNMA), 4.70%, 9/1/49(5) | 4,000 | 3,998,560 | |
New Hampshire Business Finance Authority, 4.25%, 7/20/41 | 3,997 | 3,890,490 | |
New York City Housing Development Corp., NY, Sustainability Bonds, 4.80%, 2/1/53 | 5,000 | 5,018,600 | |
Pennsylvania Housing Finance Agency, SFMR, Social Bonds, 5.00%, 10/1/50 | 3,665 | 3,725,179 | |
Public Finance Authority, WI, (University of Hawaii Foundation), Green and Social Bonds, 4.00%, 7/1/51(1) | 2,500 | 2,040,925 | |
Rhode Island Housing and Mortgage Finance Corp., Social Bonds, (GNMA), 4.60%, 10/1/48 | 3,700 | 3,708,695 | |
Texas Student Housing Corp., (University of North Texas): | |||
9.375%, 7/1/06(6) | 860 | 860,000 | |
11.00%, 7/1/31(6) | 2,000 | 2,000,000 | |
Washington Housing Finance Commission, Sustainability Bonds, 3.375%, 4/20/37 | 8,487 | 7,463,017 | |
Washington State Housing Finance Commission, (Radford Court and Nordheim Court): | |||
5.00%, 7/1/54(5) | 1,500 | 1,511,490 | |
5.50%, 7/1/59(5) | 2,000 | 2,086,480 | |
$ 66,621,682 | |||
Industrial Development Revenue — 13.4% | |||
Arkansas Development Finance Authority, (Big River Steel), (AMT), 4.50%, 9/1/49(1) | $ | 8,950 | $ 8,763,929 |
Arkansas Development Finance Authority, (United States Steel Corp.): | |||
Green Bonds, (AMT), 5.45%, 9/1/52 | 11,200 | 11,342,352 | |
Green Bonds, (AMT), 5.70%, 5/1/53 | 6,730 | 6,921,267 | |
Henderson, KY, (Pratt Paper, LLC): | |||
(AMT), 4.45%, 1/1/42(1) | 2,500 | 2,454,825 | |
(AMT), 4.70%, 1/1/52(1) | 8,510 | 8,379,882 |
Security | Principal Amount (000's omitted) | Value | |
Industrial Development Revenue (continued) | |||
Houston, TX, (United Airlines, Inc.), (AMT), 4.00%, 7/15/41 | $ | 11,730 | $ 11,018,693 |
Iowa Finance Authority, (Iowa Fertilizer Co.), 5.00%, 12/1/50 | 14,380 | 14,980,077 | |
Jefferson County Port Authority, OH, (JSW Steel USA Ohio, Inc.): | |||
5.00% to 12/1/28 (Put Date), 12/1/53(1) | 6,000 | 6,062,400 | |
(AMT), 3.50%, 12/1/51(1) | 9,250 | 6,926,585 | |
Louisiana Public Facilities Authority, (Cleco Power LLC), 4.25%, 12/1/38 | 4,050 | 3,827,898 | |
Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35(1) | 1,880 | 1,884,907 | |
Maricopa County Industrial Development Authority, AZ, (Commercial Metals Co.), (AMT), 4.00%, 10/15/47(1) | 9,000 | 7,735,140 | |
Maricopa County Pollution Control Corp., AZ, (El Paso Electric Co.), 4.50%, 8/1/42 | 6,500 | 6,082,505 | |
National Finance Authority, NH, (Covanta): | |||
4.625%, 11/1/42(1) | 13,325 | 11,925,075 | |
(AMT), 4.875%, 11/1/42(1) | 1,975 | 1,781,845 | |
Green Bonds, (AMT), 3.75% to 7/2/40 (Put Date), 7/1/45(1) | 1,845 | 1,461,461 | |
New Hampshire Business Finance Authority, (Casella Waste Systems, Inc.), 2.95%, 4/1/29(1) | 480 | 442,512 | |
New Jersey Economic Development Authority, (Continental Airlines): | |||
5.25%, 9/15/29 | 8,285 | 8,297,262 | |
5.50%, 6/1/33 | 4,375 | 4,419,931 | |
(AMT), 5.625%, 11/15/30 | 3,860 | 3,894,238 | |
New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment): | |||
(AMT), 4.375%, 10/1/45 | 10,000 | 9,668,700 | |
(AMT), 5.00%, 10/1/40 | 18,780 | 19,402,933 | |
(AMT), 5.625%, 4/1/40 | 10,000 | 10,874,000 | |
Niagara Area Development Corp., NY, (Covanta), (AMT), 4.75%, 11/1/42(1) | 7,000 | 6,253,170 | |
Ohio Air Quality Development Authority, (Pratt Paper, LLC): | |||
(AMT), 4.25%, 1/15/38(1) | 3,000 | 2,947,830 | |
(AMT), 4.50%, 1/15/48(1) | 5,000 | 4,823,000 | |
Pennsylvania Economic Development Financing Authority, (Covanta), Green Bonds, (AMT), 3.25%, 8/1/39(1) | 1,700 | 1,288,022 | |
Phenix City Industrial Development Board, AL, (MeadWestvaco Coated Board), (AMT), 4.125%, 5/15/35 | 13,570 | 13,327,640 | |
Public Finance Authority, WI, (Celanese Corp.), (AMT), 4.30%, 11/1/30 | 5,000 | 4,889,050 |
4
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Industrial Development Revenue (continued) | |||
Rockdale County Development Authority, GA, (Pratt Paper, LLC), (AMT), 4.00%, 1/1/38(1) | $ | 4,950 | $ 4,738,190 |
Valparaiso, IN, (Pratt Paper IN LLC), (AMT), 5.00%, 1/1/54(1)(5) | 2,750 | 2,789,765 | |
Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), 4.625% to 4/3/28 (Put Date), 4/1/36(1) | 475 | 472,882 | |
Virginia Small Business Financing Authority, (Covanta), (AMT), 5.00% to 7/1/38 (Put Date), 1/1/48(1) | 1,440 | 1,384,747 | |
$ 211,462,713 | |||
Insured - Escrowed/Prerefunded — 0.7% | |||
North Texas Tollway Authority, (AGC), Prerefunded to 1/1/25, 6.20%, 1/1/42 | $ | 10,000 | $ 10,169,900 |
$ 10,169,900 | |||
Insured - Hospital — 1.0% | |||
Collier County Industrial Development Authority, FL, (NHC Healthcare System), (AGM), 5.00%, 10/1/54 | $ | 3,500 | $ 3,649,240 |
Columbia County Hospital Authority, GA, (WellStar Health System, Inc.), (AGM), 5.00%, 4/1/48 | 2,125 | 2,213,697 | |
Grand Forks, ND, (Altru Health System), (AGM), 3.00%, 12/1/46 | 6,505 | 4,954,989 | |
Isle of Wight County Economic Development Authority, VA, (Riverside Health System), (AGM), 5.25%, 7/1/53 | 1,250 | 1,336,550 | |
Westchester County Local Development Corp., NY, (Westchester Medical Center Obligated Group): | |||
(AGM), 5.00%, 11/1/51 | 1,940 | 2,024,584 | |
(AGM), 5.75%, 11/1/53 | 2,000 | 2,238,660 | |
$ 16,417,720 | |||
Insured - Housing — 0.2% | |||
Knox County Health Educational and Housing Facility Board, TN, (University of Tennessee), (BAM), 5.00%, 7/1/64 | $ | 2,275 | $ 2,345,275 |
$ 2,345,275 | |||
Insured - Lease Revenue/Certificates of Participation — 0.3% | |||
Indianapolis Local Public Improvement Bond Bank, IN, (BAM), 5.00%, 3/1/53 | $ | 5,000 | $ 5,179,300 |
$ 5,179,300 | |||
Insured - Special Tax Revenue — 3.3% | |||
Harris County-Houston Sports Authority, TX: | |||
(AGM), (NPFG), 0.00%, 11/15/34 | $ | 12,700 | $ 7,787,386 |
(NPFG), 0.00%, 11/15/26 | 9,395 | 8,444,132 |
Security | Principal Amount (000's omitted) | Value | |
Insured - Special Tax Revenue (continued) | |||
Harris County-Houston Sports Authority, TX: (continued) | |||
(NPFG), 0.00%, 11/15/28 | $ | 9,605 | $ 7,971,477 |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/26 | 1,115 | 1,008,975 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/28 | 400 | 337,588 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place Expansion), (AGM), 0.00%, 12/15/56 | 10,000 | 1,914,600 | |
Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 7.00%, 10/1/39 | 14,500 | 17,038,515 | |
Newark, NJ, (Mulberry Pedestrian Bridge Redevelopment), (AGM), 5.375%, 11/15/52 | 2,000 | 2,177,180 | |
Tolomato Community Development District, FL: | |||
(AGM), 3.75%, 5/1/39 | 2,505 | 2,391,624 | |
(AGM), 3.75%, 5/1/40 | 2,980 | 2,805,193 | |
$ 51,876,670 | |||
Insured - Transportation — 3.4% | |||
Allegheny County Airport Authority, PA, (Pittsburgh International Airport): | |||
(AGM), (AMT), 5.50%, 1/1/48 | $ | 3,300 | $ 3,566,211 |
(AGM), (AMT), 5.50%, 1/1/53 | 12,040 | 12,901,823 | |
Chicago, IL, (Midway International Airport), (BAM), (AMT), 5.75%, 1/1/48 | 6,355 | 6,981,222 | |
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/37 | 6,665 | 3,488,061 | |
Foothill/Eastern Transportation Corridor Agency, CA, (AGM), 5.625%, 1/15/32 | 1,955 | 2,244,105 | |
Metropolitan Transportation Authority, NY, Green Bonds, (BAM), 4.00%, 11/15/48 | 5,000 | 4,651,850 | |
New York Transportation Development Corp., (John F. Kennedy International Airport), Green Bond, (AGM), (AMT), 5.125%, 6/30/60 | 11,800 | 12,200,846 | |
Texas Turnpike Authority, (AMBAC), 0.00%, 8/15/30 | 9,440 | 7,419,746 | |
$ 53,453,864 | |||
Lease Revenue/Certificates of Participation — 2.6% | |||
Baltimore, MD, (Harbor Point), 5.00%, 6/1/51 | $ | 1,600 | $ 1,541,520 |
New Hampshire Business Finance Authority, (Centurion BioSquare, Inc.), 5.88%, 12/15/38 | 12,950 | 13,112,522 | |
New Jersey Economic Development Authority, (Portal North Bridge), 5.25%, 11/1/47 | 9,100 | 9,731,358 | |
New Jersey Economic Development Authority, (School Facilities Construction): | |||
5.00%, 6/15/43 | 960 | 989,453 | |
5.00%, 6/15/44 | 8,290 | 8,609,580 |
5
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Lease Revenue/Certificates of Participation (continued) | |||
New Jersey Educational Facilities Authority, (Higher Education Capital Improvement Fund), 4.625%, 9/1/48 | $ | 3,500 | $ 3,566,885 |
New Jersey Transportation Trust Fund Authority, (Transportation Program), 4.25%, 6/15/44 | 3,600 | 3,518,280 | |
$ 41,069,598 | |||
Nursing Home — 0.0%(3) | |||
Mississippi Business Finance Corp., (Magnolia Healthcare), 7.99%, 7/1/25 | $ | 220 | $ 220,209 |
$ 220,209 | |||
Other Revenue — 3.8% | |||
Black Belt Energy Gas District, AL, 5.50% to 2/1/29 (Put Date), 6/1/49 | $ | 2,800 | $ 2,956,856 |
Buckeye Tobacco Settlement Financing Authority, OH: | |||
3.00%, 6/1/48 | 4,545 | 3,326,622 | |
5.00%, 6/1/55 | 31,115 | 28,209,481 | |
California Community Choice Financing Authority, Clean Energy Project Revenue, Green Bonds, 5.50% to 11/1/30 (Put Date), 10/1/54 | 4,340 | 4,707,772 | |
Central Falls Detention Facility Corp., RI, 7.25%, 7/15/35(6) | 6,250 | 2,500,000 | |
Kalispel Tribe of Indians, WA, Series A, 5.25%, 1/1/38(1) | 1,260 | 1,285,112 | |
Main Street Natural Gas, Inc., GA, Gas Supply Revenue, 5.00% to 12/1/30 (Put Date), 5/1/54 | 3,000 | 3,107,760 | |
Military Installation Development Authority, UT, 4.00%, 6/1/41 | 1,500 | 1,210,605 | |
Morongo Band of Mission Indians, CA, 5.00%, 10/1/42(1) | 2,040 | 2,044,712 | |
Patriots Energy Group Financing Agency, SC, Gas Supply Revenue, 5.25% to 8/1/31 (Put Date), 10/1/54 | 9,250 | 9,733,590 | |
$ 59,082,510 | |||
Senior Living/Life Care — 10.5% | |||
California Public Finance Authority, (Enso Village), Green Bonds, 3.125%, 5/15/29(1) | $ | 360 | $ 349,754 |
Atlantic Beach, FL, (Fleet Landing): | |||
5.00%, 11/15/37 | 7,945 | 7,946,668 | |
5.00%, 11/15/38 | 1,000 | 1,012,100 | |
California Municipal Finance Authority, (Mt. San Antonio Gardens), 4.00%, 11/15/52 | 880 | 683,654 | |
Centerville, OH, (Graceworks Lutheran Services), 5.25%, 11/1/37 | 3,250 | 3,179,312 | |
Clackamas County Hospital Facility Authority, OR, (Mary's Woods at Marylhurst), 5.00%, 5/15/48 | 425 | 371,259 |
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Clackamas County Hospital Facility Authority, OR, (Rose Villa): | |||
5.25%, 11/15/50 | $ | 250 | $ 229,588 |
5.375%, 11/15/55 | 300 | 276,360 | |
Colorado Health Facilities Authority, (Aberdeen Ridge): | |||
5.00%, 5/15/44 | 2,250 | 1,552,388 | |
5.00%, 5/15/58 | 2,525 | 1,563,101 | |
Colorado Health Facilities Authority, (Frasier Meadows Retirement Community), 5.25%, 5/15/37 | 750 | 759,623 | |
Connecticut Health and Educational Facilities Authority, (Church Home of Hartford, Inc.), 5.00%, 9/1/46(1) | 1,000 | 854,790 | |
Delaware Economic Development Authority, DE, (Acts Retirement Life Communities, Inc.), 5.25%, 11/15/53 | 5,000 | 5,107,950 | |
District of Columbia, (Ingleside at Rock Creek): | |||
5.00%, 7/1/32 | 1,600 | 1,611,040 | |
5.00%, 7/1/52 | 2,100 | 1,870,701 | |
Franklin County Industrial Development Authority, PA, (Menno-Haven, Inc.), 5.00%, 12/1/38 | 1,000 | 897,380 | |
Franklin County, OH, (Ohio Living Communities): | |||
5.00%, 7/1/40 | 4,000 | 3,824,440 | |
5.50%, 7/1/41 | 6,000 | 6,033,780 | |
Hamilton County, OH, (Life Enriching Communities), 5.75%, 1/1/53 | 3,000 | 3,075,810 | |
Harris County Cultural Education Facilities Finance Corp., TX, (Brazos Presbyterian Homes, Inc.): | |||
5.75%, 1/1/28 | 395 | 395,277 | |
6.375%, 1/1/33 | 60 | 60,064 | |
Howard County, MD, (Vantage House), 5.00%, 4/1/36 | 1,725 | 1,614,428 | |
Illinois Finance Authority, (Plymouth Place, Inc.), 5.00%, 5/15/41 | 400 | 345,012 | |
Iowa Finance Authority, (Lifespace Communities, Inc.): | |||
4.125%, 5/15/38 | 1,770 | 1,532,501 | |
5.00%, 5/15/43 | 2,750 | 2,510,172 | |
James City County Economic Development Authority, VA, (Williamsburg Landing), 6.875%, 12/1/58 | 2,600 | 2,819,388 | |
Massachusetts Development Finance Agency, (Linden Ponds, Inc.): | |||
5.00%, 11/15/33(1) | 1,550 | 1,610,295 | |
5.00%, 11/15/38(1) | 1,010 | 1,044,178 | |
Massachusetts Development Finance Agency, (NewBridge on the Charles, Inc.): | |||
5.00%, 10/1/37(1) | 1,300 | 1,321,944 | |
5.00%, 10/1/47(1) | 1,280 | 1,279,936 | |
5.00%, 10/1/57(1) | 2,410 | 2,330,157 | |
Massachusetts Development Finance Agency, (Salem Community Corp.), 5.125%, 1/1/40 | 1,020 | 936,880 |
6
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Mesquite Health Facilities Development Corp., TX, (Christian Care Centers), 5.125%, 2/15/30(6) | $ | 8 | $ 85 |
Missouri Health and Educational Facilities Authority, (Bethesda Health Group, Inc.), 5.00%, 8/1/40 | 1,300 | 1,240,044 | |
Montgomery County Industrial Development Authority, PA, (Whitemarsh Continuing Care Retirement Community), 5.25%, 1/1/48 | 9,045 | 7,765,223 | |
Multnomah County Hospital Facilities Authority, OR, (Terwilliger Plaza), 4.00%, 12/1/51 | 2,250 | 1,590,525 | |
National Finance Authority, NH, (The Vista): | |||
5.25%, 7/1/39(1) | 585 | 540,563 | |
5.625%, 7/1/46(1) | 555 | 505,594 | |
5.75%, 7/1/54(1) | 1,745 | 1,576,957 | |
New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village), 5.00%, 1/1/37 | 6,320 | 5,995,278 | |
New Hope Cultural Education Facilities Finance Corp., TX, (The Outlook at Windhaven), 6.75%, 10/1/52 | 15,000 | 14,032,800 | |
Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge): | |||
4.00%, 1/1/25 | 835 | 829,030 | |
4.375%, 1/1/39 | 1,250 | 1,080,050 | |
5.00%, 1/1/49 | 6,000 | 5,075,760 | |
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.125%, 10/1/54 | 1,000 | 1,018,150 | |
Palm Beach County Health Facilities Authority, FL, (Green Cay Life Plan Village), 11.50%, 7/1/27(1) | 6,000 | 7,096,080 | |
Palm Beach County Health Facilities Authority, FL, (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4.25%, 6/1/56 | 1,935 | 1,514,370 | |
Public Finance Authority, WI, (Church Home of Hartford, Inc.), 5.00%, 9/1/30(1) | 770 | 757,657 | |
Public Finance Authority, WI, (Mary's Woods at Marylhurst): | |||
5.25%, 5/15/42(1) | 1,000 | 952,920 | |
5.25%, 5/15/47(1) | 1,335 | 1,223,274 | |
5.25%, 5/15/52(1) | 2,750 | 2,454,650 | |
South Carolina Jobs-Economic Development Authority, (Seafields Kiawah Island Project), 7.75%, 11/15/58 | 9,000 | 9,336,870 | |
South Carolina Jobs-Economic Development Authority, (South Carolina Episcopal Home at Still Hopes): | |||
5.00%, 4/1/30 | 1,945 | 1,898,281 | |
5.00%, 4/1/38 | 2,500 | 2,297,225 | |
St. Louis County Industrial Development Authority, MO, (Friendship Village of St. Louis), 5.00%, 9/1/38 | 1,250 | 1,252,313 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks): | |||
6.625%, 11/15/41 | 725 | 684,502 | |
6.75%, 11/15/51 | 3,250 | 2,967,640 |
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks): (continued) | |||
6.875%, 11/15/55 | $ | 200 | $ 184,060 |
Tempe Industrial Development Authority, AZ, (Mirabella at ASU), 6.125%, 10/1/52(1) | 3,350 | 1,991,340 | |
Virginia Beach Development Authority, VA, (Westminster-Canterbury on Chesapeake Bay): | |||
7.00%, 9/1/53 | 2,000 | 2,217,980 | |
7.00%, 9/1/59 | 9,000 | 9,945,000 | |
Washington Housing Finance Commission, (Bayview Manor Homes): | |||
5.00%, 7/1/36(1) | 1,500 | 1,383,855 | |
5.00%, 7/1/46(1) | 1,400 | 1,150,800 | |
Washington Housing Finance Commission, (Horizon House), 5.00%, 1/1/48(1) | 7,225 | 6,195,582 | |
Washington Housing Finance Commission, (Transforming Age): | |||
5.00%, 1/1/44(1) | 2,780 | 2,280,517 | |
5.00%, 1/1/49(1) | 695 | 542,878 | |
Wisconsin Health and Educational Facilities Authority, (Three Pillars Senior Living Communities): | |||
5.25%, 8/15/39 | 1,415 | 1,432,829 | |
5.75%, 8/15/54 | 920 | 937,066 | |
5.75%, 8/15/59 | 4,000 | 4,027,360 | |
$ 164,975,038 | |||
Special Tax Revenue — 8.5% | |||
Hobe-St. Lucie Conservancy District, FL: | |||
5.60%, 5/1/44 | $ | 1,000 | $ 1,015,060 |
5.875%, 5/1/55 | 1,950 | 1,975,272 | |
Lakewood Ranch Stewardship District, FL, (Villages of Lakewood Ranch South), 5.00%, 5/1/36 | 3,725 | 3,759,270 | |
Maryland Economic Development Corp., (Port Covington), 4.00%, 9/1/50 | 585 | 463,753 | |
Metropolitan Development and Housing Agency, TN, (Fifth + Broadway Development Project), 5.125%, 6/1/36(1) | 1,800 | 1,818,792 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place Expansion): | |||
5.00%, 6/15/50 | 17,215 | 17,567,563 | |
5.50%, 6/15/53 | 2,420 | 2,446,233 | |
Michigan Finance Authority, Detroit Financial Recovery Income Tax Revenue, 4.50%, 10/1/29 | 4,460 | 4,462,498 | |
New River Community Development District, FL, (Capital Improvements): | |||
5.00%, 5/1/13(6) | 1,005 | 10 | |
5.75%, 5/1/38 | 1,020 | 1,028,476 |
7
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Special Tax Revenue (continued) | |||
New York City Transitional Finance Authority, NY, 4.375%, 5/1/53 | $ | 5,000 | $ 4,937,200 |
New York City Transitional Finance Authority, NY, Future Tax Revenue: | |||
5.00%, 11/1/46(2) | 10,000 | 10,715,900 | |
5.50%, 11/1/45(1)(2) | 10,000 | 11,172,900 | |
Oneida Indian Nation of New York, NY, 6.00%, 9/1/43(1) | 2,300 | 2,432,710 | |
Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue, 4.00%, 12/1/51 | 5,000 | 4,755,600 | |
Puerto Rico Sales Tax Financing Corp.: | |||
0.00%, 7/1/46 | 28,623 | 8,975,314 | |
0.00%, 7/1/51 | 27,782 | 6,370,135 | |
4.75%, 7/1/53 | 9,811 | 9,599,573 | |
5.00%, 7/1/58 | 24,925 | 24,927,742 | |
Reno, NV, Sales Tax Revenue, 4.00%, 6/1/43 | 1,250 | 1,171,487 | |
South Village Community Development District, FL: | |||
4.875%, 5/1/35 | 500 | 501,765 | |
5.00%, 5/1/38 | 100 | 100,281 | |
Southern Hills Plantation I Community Development District, FL: | |||
Series A1, 5.80%, 5/1/35 | 883 | 824,246 | |
Series A2, 5.80%, 5/1/35 | 755 | 508,523 | |
St. Louis Land Clearance for Redevelopment Authority, MO, (Kiel Opera House Renovation), 3.875%, 10/1/35 | 430 | 386,209 | |
Tolomato Community Development District, FL: | |||
3.00%, 5/1/32 | 1,540 | 1,390,866 | |
3.25%, 5/1/40 | 2,860 | 2,305,074 | |
Triborough Bridge and Tunnel Authority, NY, Sales Tax Revenue, 4.125%, 5/15/64 | 5,000 | 4,704,150 | |
Winter Garden Village at Fowler Groves Community Development District, FL, 4.125%, 5/1/37 | 3,905 | 3,743,489 | |
$ 134,060,091 | |||
Transportation — 14.8% | |||
California Municipal Finance Authority, (HumanGood - California Obligated Group), (AMT), 5.00%, 6/1/48 | $ | 1,600 | $ 1,569,088 |
California Municipal Finance Authority, (LINXS Automated People Mover), (AMT), 5.00%, 12/31/43 | 7,000 | 6,885,900 | |
Chicago, IL, (O'Hare International Airport): | |||
(AMT), 4.375%, 1/1/40 | 2,500 | 2,467,975 | |
(AMT), 5.00%, 1/1/53 | 5,915 | 5,962,911 | |
(AMT), 5.50%, 1/1/55(2) | 4,000 | 4,232,040 | |
(AMT), Tender Option Bond Trust Receipts/Certificates, (Liq: JPMorgan Chase Bank, N.A.), 3.45%, 7/1/27(1)(7) | 9,500 | 9,500,000 |
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Colorado High Performance Transportation Enterprise, (U.S. 36 and I-25 Managed Lanes), (AMT), 5.75%, 1/1/44 | $ | 2,500 | $ 2,503,875 |
Denver City and County, CO, Airport System Revenue, (AMT), 5.00%, 11/15/53 | 8,385 | 8,617,935 | |
Kentucky Public Transportation Infrastructure Authority, (Downtown Crossing Project): | |||
0.00%, 7/1/29 | 1,135 | 904,754 | |
0.00%, 7/1/30 | 500 | 372,245 | |
0.00%, 7/1/31 | 1,150 | 797,422 | |
Metropolitan Nashville Airport Authority, TN, (AMT), 5.50%, 7/1/52 | 3,500 | 3,738,525 | |
Metropolitan Transportation Authority, NY, Green Bonds, 5.25%, 11/15/55 | 11,500 | 11,952,870 | |
Metropolitan Washington Airports Authority, D.C., (AMT), 4.50%, 10/1/53 | 2,000 | 1,970,260 | |
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.125%, 1/1/34 | 5,000 | 5,002,050 | |
New Jersey Turnpike Authority, 4.125%, 1/1/54 | 3,735 | 3,604,051 | |
New York Thruway Authority, 4.00%, 1/1/45 | 7,770 | 7,398,827 | |
New York Transportation Development Corp., (John F. Kennedy International Airport), Green Bonds, (AMT), 5.375%, 6/30/60 | 15,220 | 15,901,095 | |
New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment): | |||
(AMT), 5.00%, 7/1/46 | 9,435 | 9,202,239 | |
(AMT), 5.25%, 1/1/50 | 7,520 | 7,444,725 | |
New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport): | |||
(AMT), 5.00%, 12/1/29 | 4,700 | 4,994,032 | |
(AMT), 5.00%, 12/1/31 | 8,050 | 8,698,427 | |
Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One): | |||
(AMT), 5.25%, 6/30/53 | 19,260 | 19,999,199 | |
(AMT), 6.00%, 6/30/61 | 5,000 | 5,493,800 | |
Phoenix Civic Improvement Corp., AZ, Airport Revenue, (AMT), 4.00%, 7/1/48 | 4,000 | 3,734,680 | |
Port of Portland, OR, (Portland International Airport), (AMT), 5.00%, 7/1/50 | 4,710 | 4,789,222 | |
Salt Lake City, UT, (Salt Lake City International Airport), (AMT), 5.00%, 7/1/47 | 7,360 | 7,414,243 | |
San Diego County Regional Airport Authority, CA, (San Diego International Airport), (AMT), 5.00%, 7/1/53 | 12,000 | 12,388,920 | |
South Jersey Port Corp., NJ, (AMT), 5.00%, 1/1/42 | 6,500 | 6,653,660 | |
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Project), (AMT), 5.50%, 12/31/58 | 5,525 | 5,930,259 |
8
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Segment 3C), (AMT), 5.00%, 6/30/58 | $ | 12,405 | $ 12,499,402 |
Texas Private Activity Bond Surface Transportation Corp., (NTE Mobility Partners Segments 3, LLC): | |||
(AMT), 5.50%, 6/30/42 | 1,765 | 1,875,242 | |
(AMT), 5.50%, 6/30/43 | 2,250 | 2,386,283 | |
Texas Transportation Commission, (State Highway System): | |||
0.00%, 8/1/36 | 550 | 323,675 | |
0.00%, 8/1/46 | 2,500 | 817,500 | |
Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/51(2) | 7,000 | 7,349,930 | |
Virginia Small Business Financing Authority, (95 Express Lanes LLC Project), (AMT), 4.00%, 1/1/40 | 3,220 | 2,978,886 | |
Virginia Small Business Financing Authority, (Transform 66 P3), (AMT), 5.00%, 12/31/52 | 14,250 | 14,294,317 | |
$ 232,650,464 | |||
Water and Sewer — 0.5% | |||
Jefferson County, AL, Sewer Revenue, 5.50%, 10/1/53 | $ | 2,840 | $ 3,041,811 |
Michigan Finance Authority, (Detroit Water and Sewerage Department), 5.00%, 7/1/33 | 1,905 | 1,907,362 | |
New York City Municipal Water Finance Authority, NY, (Water and Sewer System), 5.25%, 6/15/52(2) | 3,000 | 3,254,490 | |
$ 8,203,663 | |||
Total Tax-Exempt Municipal Obligations (identified cost $1,450,542,341) | $1,461,228,086 |
Taxable Municipal Obligations — 7.5% |
Security | Principal Amount (000's omitted) | Value | |
Cogeneration — 0.0%(3) | |||
Northampton County Industrial Development Authority, PA, (Northampton Generating), 5.00%, 6/30/27(4) | $ | 312 | $ 56,233 |
$ 56,233 | |||
Education — 1.2% | |||
California Municipal Finance Authority, (Albert Einstein Academies): | |||
4.35%, 8/1/38(1) | $ | 1,100 | $ 775,401 |
4.50%, 8/1/43(1) | 1,500 | 956,550 |
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 3.15%, 4/1/37 | $ | 1,750 | $ 1,280,860 |
University of California, 5.35%, 7/1/41(8) | 16,000 | 16,000,000 | |
$ 19,012,811 | |||
Escrowed/Prerefunded — 0.7% | |||
Chicago, IL, Prerefunded to 1/1/25, 7.75%, 1/1/42 | $ | 10,316 | $ 10,462,693 |
$ 10,462,693 | |||
General Obligations — 0.8% | |||
Atlantic City, NJ, 7.50%, 3/1/40 | $ | 5,440 | $ 5,873,949 |
Chicago, IL, 7.75%, 1/1/42 | 4,356 | 4,385,795 | |
Detroit, MI: | |||
Social Bonds, 3.11%, 4/1/28 | 830 | 747,083 | |
Social Bonds, 3.344%, 4/1/30 | 125 | 107,783 | |
Social Bonds, 3.644%, 4/1/34 | 500 | 410,810 | |
Puerto Rico, GO Contingent Value Instrument, 0.00%, 11/1/43 | 2,514 | 1,498,927 | |
$ 13,024,347 | |||
Hospital — 1.9% | |||
California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24 | $ | 12,750 | $ 12,649,020 |
Middleburg Heights, OH, (Southwest General Health Center), 4.074%, 8/1/47 | 6,000 | 4,140,000 | |
New Mexico Hospital Equipment Loan Council, (Presbyterian Healthcare Services), (SPA: JPMorgan Chase Bank, N.A.), 5.30%, 8/1/42(7) | 13,700 | 13,700,000 | |
$ 30,489,020 | |||
Housing — 0.2% | |||
New York Housing Finance Agency, (LOC: TD Bank, N.A.), 5.35%, 5/1/44(8) | $ | 2,805 | $ 2,805,000 |
$ 2,805,000 | |||
Insured - General Obligations — 0.1% | |||
Detroit, MI, (AMBAC), 5.15%, 4/1/25 | $ | 1,675 | $ 1,658,878 |
Elmwood Park, IL, (AGM), 2.544%, 12/1/36 | 355 | 257,301 | |
$ 1,916,179 | |||
Insured - Transportation — 0.7% | |||
Alameda Corridor Transportation Authority, CA: | |||
(AGM), 0.00%, 10/1/41 | $ | 16,290 | $ 5,636,503 |
(AGM), 0.00%, 10/1/44 | 8,000 | 2,264,000 |
9
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Insured - Transportation (continued) | |||
Alameda Corridor Transportation Authority, CA: (continued) | |||
(AGM), 0.00%, 10/1/46 | $ | 15,000 | $ 3,695,400 |
$ 11,595,903 | |||
Lease Revenue/Certificates of Participation — 0.6% | |||
New Hampshire Business Finance Authority, (Centurion BioSquare, Inc.), 9.58%, 12/15/38 | $ | 780 | $ 747,762 |
New Hampshire Business Finance Authority, (Centurion Foundation), 11.00%, 12/15/38 | 425 | 408,744 | |
New Jersey Transportation Trust Fund Authority, 5.754%, 12/15/28(9) | 7,375 | 7,368,289 | |
$ 8,524,795 | |||
Other Revenue — 0.2% | |||
Golden State Tobacco Securitization Corp., CA, 4.214%, 6/1/50 | $ | 3,300 | $ 2,379,498 |
$ 2,379,498 | |||
Special Tax Revenue — 0.9% | |||
American Samoa Economic Development Authority: | |||
2.47%, 9/1/24(1) | $ | 250 | $ 246,567 |
3.72%, 9/1/27(1) | 1,115 | 1,020,794 | |
Ohio County Commission, WV, (Fort Henry Economic Opportunity Development District - The Highlands): | |||
4.80%, 3/1/36 | 3,000 | 2,535,750 | |
5.25%, 3/1/31 | 2,910 | 2,737,437 | |
Oneida Indian Nation of New York, NY, 8.00%, 9/1/40(1) | 8,000 | 7,602,400 | |
$ 14,142,948 | |||
Water and Sewer — 0.2% | |||
Metropolitan Water District of Southern California, (SPA: TD Bank, N.A.), 5.33%, 7/1/37(8) | $ | 3,500 | $ 3,500,000 |
$ 3,500,000 | |||
Total Taxable Municipal Obligations (identified cost $122,178,051) | $ 117,909,427 | ||
Total Investments — 102.5% (identified cost $1,609,252,967) | $1,611,791,420 | ||
Other Assets, Less Liabilities — (2.5)% | $ (38,712,327) | ||
Net Assets — 100.0% | $1,573,079,093 |
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, 2024, the aggregate value of these securities is $220,664,984 or 14.0% of the Fund's net assets. |
(2) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
(3) | Amount is less than 0.05%. |
(4) | Represents a payment-in-kind security which may pay interest in additional principal at the issuer’s discretion. |
(5) | When-issued security. |
(6) | Defaulted security. Issuer has defaulted on the payment of interest and/or principal or has filed bankruptcy. |
(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, 2024. |
(8) | 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, 2024. |
(9) | 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, 2024, 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% |
Texas | 10.4% |
Others, representing less than 10% individually | 76.6% |
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, 2024, 9.5% 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 0.6% to 4.7% of total investments. |
10
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
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 | 6/18/24 | $(18,801,563) | $ 518,029 |
U.S. Long Treasury Bond | (112) | Short | 6/18/24 | (12,747,000) | 593,164 |
$1,111,193 |
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. |
FHLMC | – Federal Home Loan Mortgage Corp. |
FNMA | – Federal National Mortgage Association |
GNMA | – Government National Mortgage Association |
LOC | – Letter of Credit |
NPFG | – National Public Finance Guarantee Corp. |
PSF | – Permanent School Fund |
SFMR | – Single Family Mortgage Revenue |
SPA | – Standby Bond Purchase Agreement |
At April 30, 2024, 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.
At April 30, 2024, the hierarchy of inputs used in valuing the Fund’s investments and open derivative instruments, which are carried at fair value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Corporate Bonds | $ — | $ 26,246,898 | $ — | $ 26,246,898 |
Tax-Exempt Mortgage-Backed Securities | — | 6,407,009 | — | 6,407,009 |
Tax-Exempt Municipal Obligations | — | 1,461,228,086 | — | 1,461,228,086 |
Taxable Municipal Obligations | — | 117,909,427 | — | 117,909,427 |
Total Investments | $ — | $1,611,791,420 | $ — | $1,611,791,420 |
Futures Contracts | $1,111,193 | $ — | $ — | $ 1,111,193 |
Total | $1,111,193 | $1,611,791,420 | $ — | $1,612,902,613 |
11
Eaton Vance
High Yield Municipal Income Fund
April 30, 2024
Portfolio of Investments (Unaudited) — continued
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 semi-annual or annual report to shareholders.
12