Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited)
Corporate Bonds — 1.2% |
Security | Principal Amount (000's omitted) | Value | |
Hospital — 0.7% | |||
Adventist Health System, 5.757%, 12/1/34 | $ | 5,000 | $ 5,053,598 |
Boston Medical Center Corp., 4.581%, 7/1/47 | 4,165 | 3,390,196 | |
Harnett Health System, Inc., 4.25% to 4/1/25 (Put Date), 4/1/32 | 4,585 | 4,585,000 | |
$ 13,028,794 | |||
Other — 0.5% | |||
Morongo Band of Mission Indians, 7.00%, 10/1/39(1) | $ | 7,980 | $ 8,503,728 |
$ 8,503,728 | |||
Total Corporate Bonds (identified cost $21,692,200) | $ 21,532,522 |
Tax-Exempt Mortgage-Backed Securities — 0.5% |
Security | Principal Amount (000's omitted) | Value | |
Housing — 0.5% | |||
National Finance Authority, NH, Affordable Housing Certificates, Series 2024-1, Class A, 4.15%, 10/20/40 | $ | 2,500 | $ 2,493,725 |
National Finance Authority, NH, Municipal Certificates, Series 2022-2, Class A, 4.00%, 10/20/36 | 6,810 | 6,594,529 | |
Total Tax-Exempt Mortgage-Backed Securities (identified cost $8,687,261) | $ 9,088,254 |
Tax-Exempt Municipal Obligations — 96.0% |
Security | Principal Amount (000's omitted) | Value | |
Bond Bank — 0.6% | |||
Texas Water Development Board, 5.25%, 10/15/51(2) | $ | 10,000 | $ 10,938,300 |
$ 10,938,300 | |||
Cogeneration — 0.0%(3) | |||
Northampton County Industrial Development Authority, PA, (Northampton Generating), (AMT), 5.00%, 6/30/27(4) | $ | 567 | $ 249,562 |
$ 249,562 |
Security | Principal Amount (000's omitted) | Value | |
Education — 4.8% | |||
Albany Capital Resource Corp., NY, (KIPP Capital Region Public Charter Schools), 5.00%, 6/1/64 | $ | 3,200 | $ 3,221,760 |
Arizona Industrial Development Authority, (Pinecrest Academy of Nevada), 4.00%, 7/15/50(1) | 925 | 779,516 | |
Arlington Higher Education Finance Corp., TX, (Great Hearts America), 5.00%, 8/15/54 | 2,200 | 2,166,758 | |
Arlington Higher Education Finance Corp., TX, (Harmony Public Schools), (PSF Guaranteed), 4.00%, 2/15/54 | 3,760 | 3,557,599 | |
Arlington Higher Education Finance Corp., TX, (Leadership Prep School), (PSF Guaranteed), 4.125%, 6/15/54 | 500 | 484,445 | |
Build NYC Resource Corp., NY, (East Harlem Scholars Academy Charter School), Social Bonds, 5.75%, 6/1/52(1) | 1,500 | 1,577,205 | |
California Enterprise Development Authority, (The Rocklin Academy), 5.00%, 6/1/44(1)(5) | 1,500 | 1,543,740 | |
California Municipal Finance Authority, (Westside Neighbourhood School), 6.375%, 6/15/64(1) | 3,455 | 3,758,349 | |
Capital Trust Agency, FL, (Florida Charter Educational Foundation, Inc.): | |||
5.375%, 6/15/38(1) | 545 | 547,185 | |
5.375%, 6/15/48(1) | 1,020 | 992,664 | |
Capital Trust Authority, FL, (KIPP Miami North Campus): | |||
6.00%, 6/15/54(1) | 650 | 679,419 | |
6.125%, 6/15/60(1) | 800 | 837,312 | |
Capital Trust Authority, FL, (Mason Classical Academy), 5.00%, 6/1/54(1) | 4,400 | 4,405,280 | |
Clifton Higher Education Finance Corp., TX, (Idea Public Schools), (PSF Guaranteed), 4.00%, 8/15/54 | 2,480 | 2,361,654 | |
Colorado Educational and Cultural Facilities Authority, (Aspen View Academy): | |||
4.00%, 5/1/41 | 100 | 92,937 | |
4.00%, 5/1/51 | 500 | 434,745 | |
Dayton-Montgomery County Port Authority, OH, (Daytown Regional Stem Schools, Inc.): | |||
5.00%, 12/1/54 | 1,135 | 1,148,597 | |
5.00%, 12/1/60 | 1,175 | 1,184,377 | |
District of Columbia, (KIPP DC), 4.00%, 7/1/44 | 970 | 902,828 | |
Florida Development Finance Corp., (Drs. Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc.), 4.00%, 7/1/51(1) | 4,300 | 3,704,235 | |
Florida Development Finance Corp., (River City Science Academy Project), 4.00%, 7/1/55 | 750 | 627,938 | |
Florida Higher Educational Facilities Financing Authority, (Jacksonville University), 5.00%, 6/1/48(1) | 750 | 723,788 | |
Florida Higher Educational Facilities Financing Authority, (Rollins College Project), 4.125%, 12/1/54 | 3,000 | 2,839,740 |
1
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Education (continued) | |||
Idaho Housing and Finance Association, (Alturas Preparatory Academy): | |||
4.25%, 5/1/49 | $ | 1,500 | $ 1,417,275 |
4.50%, 5/1/59 | 1,235 | 1,177,103 | |
Illinois Finance Authority, (DePaul College Prep Foundation), 5.625%, 8/1/53(1) | 2,500 | 2,667,275 | |
Indiana Finance Authority, (KIPP Indianapolis, Inc.): | |||
5.00%, 7/1/40 | 315 | 316,969 | |
5.00%, 7/1/55 | 460 | 450,078 | |
Maricopa County Industrial Development Authority, AZ, (Legacy Traditional Schools): | |||
4.00%, 7/1/51(1) | 2,870 | 2,437,175 | |
4.25%, 7/1/44 | 2,250 | 2,086,582 | |
New York Dormitory Authority, (Pace University), 5.50%, 5/1/56 | 1,000 | 1,079,130 | |
Phoenix Industrial Development Authority, AZ, (Legacy Traditional Schools), 5.00%, 7/1/46(1) | 2,500 | 2,503,725 | |
Public Finance Authority, WI, (North Carolina Leadership Academy): | |||
4.00%, 6/15/29(1) | 195 | 191,201 | |
5.00%, 6/15/39(1) | 185 | 184,419 | |
5.00%, 6/15/49(1) | 260 | 247,952 | |
Public Finance Authority, WI, (North East Carolina Preparatory School), 5.25%, 6/15/54 | 1,120 | 1,138,301 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
4.00%, 4/1/52(1) | 970 | 850,991 | |
5.00%, 4/1/40(1) | 795 | 819,669 | |
5.00%, 4/1/50(1) | 3,250 | 3,283,605 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 4.00%, 4/1/54 | 2,000 | 1,577,560 | |
Sierra Vista Industrial Development Authority, AZ, (American Leadership Academy): | |||
5.00%, 6/15/54(1) | 2,410 | 2,391,443 | |
5.00%, 6/15/64(1) | 2,250 | 2,190,847 | |
South Carolina Jobs-Economic Development Authority, (Carolina Voyager), 5.00%, 6/15/54(1)(5) | 5,735 | 5,742,398 | |
Tennessee State School Bond Authority: | |||
5.00%, 11/1/52 | 380 | 404,958 | |
5.00%, 11/1/52(2) | 10,000 | 10,656,800 | |
Washington Housing Finance Commission, (Seattle Academy of Arts and Sciences): | |||
5.875%, 7/1/43(1) | 1,345 | 1,463,306 | |
6.125%, 7/1/53(1) | 3,525 | 3,844,083 | |
$ 87,694,916 | |||
Electric Utilities — 1.9% | |||
Arkansas River Power Authority, CO, 5.00%, 10/1/43 | $ | 4,235 | $ 4,291,241 |
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 | $ 14,787,234 |
Douglas County Public Utility District No. 1, WA, 3.00%, 9/1/52 | 1,750 | 1,345,260 | |
South Carolina Public Service Authority: | |||
5.25%, 12/1/54 | 3,180 | 3,414,525 | |
5.75%, 12/1/47 | 10,000 | 11,147,400 | |
$ 34,985,660 | |||
Escrowed/Prerefunded — 1.0% | |||
Illinois Finance Authority, (Plymouth Place, Inc.), Prerefunded to 5/15/25, 5.00%, 5/15/37 | $ | 1,000 | $ 1,008,460 |
Iowa Finance Authority, (Iowa Fertilizer Co.), Prerefunded to 12/1/32, 5.00%, 12/1/50 | 14,380 | 16,434,327 | |
New Jersey Economic Development Authority, (School Facilities Construction), Prerefunded to 12/15/28, 5.00%, 6/15/43 | 570 | 621,237 | |
Public Finance Authority, WI, (Roseman University of Health Sciences): | |||
Prerefunded to 4/1/30, 5.00%, 4/1/50(1) | 130 | 143,024 | |
Prerefunded to 4/1/32, 4.00%, 4/1/52(1) | 30 | 31,947 | |
$ 18,238,995 | |||
General Obligations — 7.2% | |||
Chicago Board of Education, IL: | |||
5.00%, 12/1/41 | $ | 3,550 | $ 3,578,293 |
5.00%, 12/1/42 | 6,950 | 6,833,101 | |
5.00%, 12/1/44 | 2,305 | 2,279,553 | |
5.00%, 12/1/46 | 5,500 | 5,381,640 | |
5.00%, 12/1/46 | 2,500 | 2,446,200 | |
5.00%, 12/1/47 | 9,800 | 9,662,800 | |
6.00%, 12/1/49 | 4,375 | 4,737,906 | |
Chicago, IL: | |||
5.00%, 1/1/44 | 7,000 | 7,090,090 | |
5.25%, 1/1/38 | 6,750 | 7,194,015 | |
5.50%, 1/1/43 | 2,000 | 2,079,000 | |
Detroit, MI: | |||
5.00%, 4/1/30 | 1,400 | 1,468,278 | |
5.00%, 4/1/31 | 865 | 902,057 | |
6.00%, 5/1/43 | 1,000 | 1,126,480 | |
Graford Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/54 | 5,000 | 4,803,100 | |
Houston, TX, 4.125%, 3/1/51(2) | 6,635 | 6,434,358 | |
Hurst-Euless-Bedford Independent School District, TX, (PSF Guaranteed), 4.00%, 8/15/50 | 7,715 | 7,551,519 |
2
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
General Obligations (continued) | |||
Illinois: | |||
5.00%, 12/1/42 | $ | 8,125 | $ 8,285,550 |
5.50%, 5/1/39 | 1,085 | 1,172,972 | |
5.50%, 3/1/47 | 2,000 | 2,159,200 | |
5.50%, 5/1/47 | 2,000 | 2,160,240 | |
5.75%, 5/1/45 | 1,115 | 1,210,622 | |
Leander Independent School District, TX, (PSF Guaranteed), 5.00%, 8/15/47(2) | 5,000 | 5,312,300 | |
Midland Independent School District, TX, (PSF Guaranteed), 4.00%, 2/15/54 | 2,320 | 2,242,605 | |
New York, NY, 4.00%, 4/1/50 | 9,680 | 9,371,014 | |
Puerto Rico: | |||
0.00%, 7/1/33 | 731 | 499,674 | |
4.00%, 7/1/33 | 4,500 | 4,437,495 | |
4.00%, 7/1/41 | 7,584 | 7,162,862 | |
5.625%, 7/1/29 | 3,343 | 3,598,757 | |
5.75%, 7/1/31 | 8,681 | 9,577,000 | |
Ysleta Independent School District, TX, (PSF Guaranteed), 4.25%, 8/15/56 | 1,500 | 1,482,195 | |
$ 132,240,876 | |||
Hospital — 12.1% | |||
Allegheny County Hospital Development Authority, PA, (Allegheny Health Network Obligated Group), 5.00%, 4/1/47 | $ | 7,975 | $ 8,081,626 |
Arkansas Development Finance Authority, (Washington Regional Medical Center), 5.00%, 2/1/36 | 1,000 | 1,028,790 | |
Astoria Hospital Facilities Authority, OR, (Columbia Memorial Hospital), 5.25%, 8/1/54 | 3,500 | 3,672,620 | |
Bucks County Industrial Development Authority, PA, (Grand View Hospital): | |||
4.00%, 7/1/46 | 1,000 | 833,490 | |
5.00%, 7/1/36 | 1,200 | 1,214,496 | |
5.00%, 7/1/54 | 6,000 | 5,698,680 | |
California Infrastructure and Economic Development Bank, (Adventist Health Energy), 5.25%, 7/1/54 | 8,000 | 8,471,840 | |
California Municipal Finance Authority, (NorthBay Healthcare Group): | |||
5.00%, 11/1/40 | 550 | 550,022 | |
5.00%, 11/1/44 | 500 | 498,400 | |
Cleveland Health and Educational Facilities Board, TN, (Hamilton Health Care System), 4.25%, 8/15/54 | 11,500 | 11,149,825 | |
Colorado Health Facilities Authority, (AdventHealth Obligated Group), 3.00%, 11/15/51 | 11,160 | 8,507,380 | |
Colorado Health Facilities Authority, (CommonSpirit Health): | |||
4.00%, 8/1/44 | 3,290 | 3,146,556 |
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
Colorado Health Facilities Authority, (CommonSpirit Health): (continued) | |||
5.25%, 12/1/54 | $ | 1,000 | $ 1,078,930 |
5.50%, 11/1/47 | 4,000 | 4,401,720 | |
Connecticut State Health and Educational Facilities Authority, (Connecticut Children Medical Center), 4.25%, 7/15/53 | 2,045 | 1,991,748 | |
Crawford County Hospital Authority, PA, (Meadville Medical Center), 6.00%, 6/1/46 | 3,175 | 3,205,702 | |
Doylestown Hospital Authority, PA, 5.375%, 7/1/39(1) | 1,510 | 1,649,252 | |
DuBois Hospital Authority, PA, (Penn Highlands Healthcare), 4.00%, 7/15/50 | 3,600 | 3,100,500 | |
Fairfax County Industrial Development Authority, VA, (Inova Health System), 4.00%, 5/15/48 | 1,410 | 1,376,907 | |
Grand Forks, ND, (Altru Health System), 5.42%, 12/1/53 | 1,500 | 1,559,895 | |
Grays Harbor County Public Hospital District No. 1, WA, (Summit Pacific Medical Center), 6.875%, 12/1/53 | 2,610 | 2,909,132 | |
Halifax Hospital Medical Center, FL, (Daytona Beach): | |||
4.25%, 6/1/54 | 3,250 | 3,127,540 | |
5.25%, 6/1/54 | 5,000 | 5,361,150 | |
Illinois Finance Authority, (OSF HealthCare System), 4.125%, 5/15/47 | 4,975 | 4,698,191 | |
Jefferson County Civic Facility Development Corp., NY, (Samaritan Medical Center): | |||
4.00%, 11/1/42 | 5,500 | 4,466,165 | |
5.00%, 11/1/37 | 4,385 | 4,325,452 | |
Maryland Health and Higher Educational Facilities Authority, (Frederick Health System), 5.25%, 7/1/53 | 3,500 | 3,668,490 | |
Massachusetts Development Finance Agency, (Boston Medical Center), Sustainability Bonds, 4.375%, 7/1/52 | 3,730 | 3,598,443 | |
Michigan Finance Authority, (Henry Ford Health Detroit): | |||
Green Bonds, 4.375%, 2/28/54 | 3,000 | 2,884,140 | |
Green Bonds, 5.50%, 2/28/57 | 2,700 | 2,946,861 | |
Michigan Finance Authority, (Trinity Health Credit Group), 4.00%, 12/1/49 | 6,475 | 6,028,484 | |
Missouri Health and Educational Facilities Authority, (Mercy Health), 5.00%, 12/1/52 | 7,850 | 8,221,383 | |
Montana Facility Finance Authority, (Bozeman Deaconess Health Services Obligated Group), 5.00%, 6/1/48 | 4,000 | 4,083,320 | |
Montgomery County Higher Education and Health Authority, PA, (Holy Redeemer Health System), 5.00%, 10/1/40 | 1,120 | 1,004,685 | |
Muskingum County, OH, (Genesis HealthCare System Obligated Group): | |||
5.00%, 2/15/33 | 2,775 | 2,774,972 |
3
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Hospital (continued) | |||
Muskingum County, OH, (Genesis HealthCare System Obligated Group): (continued) | |||
5.00%, 2/15/44 | $ | 3,835 | $ 3,794,694 |
New Jersey Health Care Facilities Financing Authority, (St. Joseph's Healthcare System Obligated Group): | |||
4.00%, 7/1/48 | 6,265 | 5,624,028 | |
5.00%, 7/1/41 | 1,750 | 1,756,073 | |
New York Dormitory Authority, (White Plains Hospital Obligated Group), 5.25%, 10/1/49 | 12,045 | 12,801,667 | |
Norfolk Economic Development Authority, VA, (Sentara Healthcare), 4.00%, 11/1/48 | 675 | 640,778 | |
Onondaga Civic Development Corp., NY, (Crouse Health Hospital, Inc.), 5.125%, 8/1/44 | 6,525 | 6,604,083 | |
Pennsylvania Economic Development Financing Authority, (UPMC), 4.00%, 5/15/53 | 4,885 | 4,561,076 | |
Pennsylvania Higher Educational Facilities Authority, (Thomas Jefferson University), 4.375%, 11/1/54(5) | 4,000 | 3,867,889 | |
Skagit County Public Hospital District No. 1, WA, 5.50%, 12/1/54 | 2,750 | 2,913,377 | |
South Carolina Jobs-Economic Development Authority, (Beaufort Memorial Hospital and South of Broad Healthcare), 5.75%, 11/15/54 | 2,500 | 2,652,875 | |
South Carolina Jobs-Economic Development Authority, (Novant Health Obligated Group), 4.50%, 11/1/54 | 10,000 | 9,969,300 | |
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.00%, 12/1/35 | 3,100 | 2,921,409 | |
Virginia Commonwealth University Health System Authority, 4.00%, 7/1/54 | 13,465 | 12,975,009 | |
West Virginia Hospital Finance Authority, (Vandalia Health): | |||
6.00%, 9/1/48 | 4,000 | 4,503,840 | |
6.00%, 9/1/53 | 4,000 | 4,473,240 | |
West Virginia Hospital Finance Authority, (West Virginia Health System Obligated Group), 4.375%, 6/1/53 | 3,000 | 2,925,480 | |
Westchester County Local Development Corp., NY, (Westchester Medical Center Obligated Group), 6.25%, 11/1/52 | 560 | 631,809 | |
Wisconsin Health and Educational Facilities Authority, (Marshfield Clinic Health System, Inc.), 5.50%, 2/15/54 | 5,000 | 5,407,900 | |
Wisconsin Health and Educational Facilities Authority, (Thedacare, Inc.), 3.125%, 12/15/49 | 3,765 | 2,882,860 | |
$ 223,224,174 | |||
Housing — 7.4% | |||
Alabama Housing Finance Authority, SFMR, (FHLMC), (FNMA), (GNMA), 4.625%, 10/1/49 | $ | 4,435 | $ 4,473,718 |
CMFA Special Finance Agency, CA, (Solana at Grand), 4.00%, 8/1/56(1) | 4,000 | 3,564,440 |
Security | Principal Amount (000's omitted) | Value | |
Housing (continued) | |||
Colorado Housing and Finance Authority, (Fitzsimons Gateway Apartments), Social Bonds, (FNMA), 4.48%, 3/1/44 | $ | 3,250 | $ 3,187,112 |
CSCDA Community Improvement Authority, CA, (City of Orange Portfolio), Essential Housing Revenue, Social Bonds, 3.00%, 3/1/57(1) | 14,350 | 10,314,636 | |
CSCDA Community Improvement Authority, CA, (Pasadena Portfolio), Essential Housing Revenue, Social Bonds, 3.00%, 12/1/56(1) | 9,930 | 6,918,727 | |
Delaware State Housing Authority, (FHLMC), (FNMA), (GNMA), 4.60%, 7/1/49 | 5,390 | 5,426,760 | |
Florida Development Finance Corp., (The Henry Project), 5.25%, 6/1/54(1) | 3,600 | 3,670,452 | |
Indiana Finance Authority, (CHF-Tippecanoe, LLC - Student Housing), 5.125%, 6/1/58 | 1,650 | 1,687,439 | |
Kentucky Housing Corp., SFMR, (FHLMC), (FNMA), (GNMA), 4.35%, 7/1/44(5) | 2,100 | 2,084,670 | |
King County Housing Authority, WA, (Kirkland Heights Project), 4.625%, 1/1/41 | 2,000 | 2,056,160 | |
Maine Housing Authority, Social Bonds, 4.70%, 11/15/53 | 900 | 913,194 | |
Maryland Economic Development Corp., (Morgan State University), Student Housing Revenue, 5.75%, 7/1/53 | 2,000 | 2,176,660 | |
Massachusetts Development Finance Agency, (Merrimack College Student Housing), 5.00%, 7/1/60(1) | 2,200 | 2,226,818 | |
Nebraska Investment Finance Authority, Social Bonds, (FHLMC), (FNMA), (GNMA), 4.70%, 9/1/49 | 2,325 | 2,349,040 | |
Nevada Housing Division, (FHLMC), (FNMA), GNMA), 4.55%, 10/1/44 | 7,340 | 7,408,189 | |
New Hampshire Business Finance Authority: | |||
3.625%, 8/20/39 | 4,988 | 4,665,441 | |
4.25%, 7/20/41 | 3,975 | 3,891,976 | |
New York City Housing Development Corp., NY, Sustainability Bonds, 4.80%, 2/1/53 | 5,000 | 5,010,750 | |
Pennsylvania Housing Finance Agency, SFMR, Social Bonds, 5.00%, 10/1/50 | 3,665 | 3,740,316 | |
Public Finance Authority, WI, (Aggie Apartment Life Holding Corp., II LLC): | |||
5.00%, 6/1/44 | 1,300 | 1,331,213 | |
5.25%, 6/1/54 | 2,325 | 2,384,985 | |
Public Finance Authority, WI, (University of Hawaii Foundation), Green and Social Bonds, 4.00%, 7/1/51(1) | 2,500 | 2,133,825 | |
Rhode Island Housing and Mortgage Finance Corp., Social Bonds, (GNMA), 4.60%, 10/1/48 | 3,700 | 3,732,190 |
4
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Housing (continued) | |||
Shelby County Health and Educational Facilities Board, TN, (Madrone Memphis Student Housing I LLC): | |||
5.00%, 6/1/44(1) | $ | 1,250 | $ 1,275,588 |
5.25%, 6/1/56(1) | 10,000 | 10,233,900 | |
Tennessee Housing Development Agency, (Residential Finance Program), Social Bonds, (FHLMC), (FNMA), (GNMA), 4.65%, 7/1/54 | 500 | 501,700 | |
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 | |
Vancouver Housing Authority, WA, (Cougar Creek), 4.50%, 10/1/42 | 1,250 | 1,218,775 | |
Washington Housing Finance Commission: | |||
4.084%, 3/20/40 | 11,995 | 11,564,395 | |
Sustainable Bonds, 3.375%, 4/20/37 | 8,448 | 7,628,776 | |
Washington State Housing Finance Commission, (Radford Court and Nordheim Court): | |||
5.00%, 7/1/54 | 1,500 | 1,538,940 | |
5.50%, 7/1/59 | 2,000 | 2,128,020 | |
West Virginia Housing Development Fund, Social Bonds, 4.45%, 11/1/49 | 3,570 | 3,565,323 | |
Wisconsin Health and Educational Facilities Authority, (Wisconsin Housing Preservation Corp.), 4.375%, 11/1/39(5) | 8,000 | 7,886,400 | |
$ 135,750,528 | |||
Industrial Development Revenue — 9.9% | |||
Arkansas Development Finance Authority, (Big River Steel), (AMT), 4.50%, 9/1/49(1) | $ | 8,950 | $ 8,752,921 |
Arkansas Development Finance Authority, (United States Steel Corp.): | |||
Green Bonds, (AMT), 5.45%, 9/1/52 | 11,200 | 11,623,360 | |
Green Bonds, (AMT), 5.70%, 5/1/53 | 6,730 | 7,114,754 | |
Florida Development Finance Corp., (GFL Solid Waste Southeast LLC), (AMT), 4.375% to 10/1/31 (Put Date), 10/1/54(1) | 2,500 | 2,502,000 | |
Hawaii Department of Budget and Finance, (Hawaiian Electric Co.), 3.20%, 7/1/39 | 5,610 | 4,591,392 | |
Henderson, KY, (Pratt Paper, LLC): | |||
(AMT), 4.45%, 1/1/42(1) | 2,500 | 2,446,950 | |
(AMT), 4.70%, 1/1/52(1) | 10,510 | 10,303,794 | |
Houston, TX, (United Airlines, Inc.), (AMT), 4.00%, 7/15/41 | 11,710 | 11,322,282 | |
Jefferson County Port Authority, OH, (JSW Steel USA Ohio, Inc.): | |||
5.00% to 12/1/28 (Put Date), 12/1/53(1) | 6,000 | 6,119,040 | |
(AMT), 3.50%, 12/1/51(1) | 9,250 | 7,214,630 |
Security | Principal Amount (000's omitted) | Value | |
Industrial Development Revenue (continued) | |||
Maine Finance Authority, (Casella Waste Systems, Inc.), (AMT), 5.125% to 8/1/25 (Put Date), 8/1/35(1) | $ | 1,880 | $ 1,896,450 |
Maricopa County Industrial Development Authority, AZ, (Commercial Metals Co.), (AMT), 4.00%, 10/15/47(1) | 9,000 | 8,004,690 | |
Mobile County Industrial Development Authority, AL, (AM/LS Calvert LLC), (AMT), 5.00%, 6/1/54 | 4,000 | 4,088,760 | |
National Finance Authority, NH, (Covanta): | |||
4.625%, 11/1/42(1) | 13,325 | 12,721,111 | |
(AMT), 4.875%, 11/1/42(1) | 1,975 | 1,960,721 | |
Green Bonds, (AMT), 3.75% to 7/2/40 (Put Date), 7/1/45(1) | 1,845 | 1,562,346 | |
New Hampshire Business Finance Authority, (Casella Waste Systems, Inc.), 2.95%, 4/1/29(1) | 480 | 462,029 | |
New Jersey Economic Development Authority, (Continental Airlines): | |||
5.25%, 9/15/29 | 7,105 | 7,112,318 | |
5.50%, 6/1/33 | 4,375 | 4,404,006 | |
(AMT), 5.625%, 11/15/30 | 3,860 | 3,878,644 | |
New York Transportation Development Corp., (Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment): | |||
(AMT), 4.375%, 10/1/45 | 10,000 | 9,569,800 | |
(AMT), 5.00%, 10/1/40 | 18,780 | 19,387,908 | |
(AMT), 5.625%, 4/1/40 | 10,000 | 10,743,000 | |
Niagara Area Development Corp., NY, (Covanta), (AMT), 4.75%, 11/1/42(1) | 7,000 | 6,705,650 | |
Ohio Air Quality Development Authority, (Pratt Paper, LLC): | |||
(AMT), 4.25%, 1/15/38(1) | 3,000 | 2,984,820 | |
(AMT), 4.50%, 1/15/48(1) | 5,000 | 4,838,700 | |
Pennsylvania Economic Development Financing Authority, (Covanta), Green Bonds, (AMT), 3.25%, 8/1/39(1) | 1,700 | 1,390,532 | |
Rockdale County Development Authority, GA, (Pratt Paper, LLC), (AMT), 4.00%, 1/1/38(1) | 4,950 | 4,777,443 | |
Valparaiso, IN, (Pratt Paper IN LLC), (AMT), 5.00%, 1/1/54(1) | 2,750 | 2,794,275 | |
Vermont Economic Development Authority, (Casella Waste Systems, Inc.), (AMT), 4.625% to 4/3/28 (Put Date), 4/1/36(1) | 475 | 487,141 | |
Virginia Small Business Financing Authority, (Covanta), (AMT), 5.00% to 7/1/38 (Put Date), 1/1/48(1) | 1,440 | 1,440,000 | |
$ 183,201,467 | |||
Insured - Escrowed/Prerefunded — 0.5% | |||
North Texas Tollway Authority, (AGC), Prerefunded to 1/1/25, 6.20%, 1/1/42 | $ | 10,000 | $ 10,042,900 |
$ 10,042,900 |
5
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Insured - General Obligations — 0.7% | |||
Generation Park Management District, TX, (AGC), 3.75%, 9/1/49 | $ | 5,235 | $ 4,616,380 |
Harris County Improvement District No. 18, TX: | |||
(BAM), 3.50%, 9/1/48 | 1,680 | 1,467,463 | |
(BAM), 3.50%, 9/1/49 | 1,750 | 1,516,777 | |
Harris County Municipal Utility District No. 165, TX: | |||
(BAM), 3.50%, 3/1/48 | 2,785 | 2,387,943 | |
(BAM), 3.50%, 3/1/49 | 2,895 | 2,458,434 | |
$ 12,446,997 | |||
Insured - Hospital — 1.4% | |||
Columbia County Hospital Authority, GA, (WellStar Health System, Inc.), (AGM), 5.00%, 4/1/48 | $ | 2,125 | $ 2,240,834 |
Grand Forks, ND, (Altru Health System), (AGM), 3.00%, 12/1/46 | 6,505 | 5,070,127 | |
Isle of Wight County Economic Development Authority, VA, (Riverside Health System), (AGM), 5.25%, 7/1/53 | 1,250 | 1,338,450 | |
Pennsylvania Higher Educational Facilities Authority, (Thomas Jefferson University), (AGC), 4.25%, 11/1/51(5) | 7,000 | 6,799,238 | |
Westchester County Local Development Corp., NY, (Westchester Medical Center Obligated Group): | |||
(AGM), 5.00%, 11/1/51 | 1,940 | 2,050,367 | |
(AGM), 5.75%, 11/1/53 | 2,000 | 2,219,260 | |
Wisconsin Health and Educational Facilities Authority, (Marshfield Clinic Health System, Inc.), (BAM), 4.50%, 2/15/54 | 3,500 | 3,378,970 | |
Yuma Industrial Development Authority, AZ, (Yuma Regional Medical Center), (AGC), 4.00%, 8/1/49 | 3,750 | 3,683,475 | |
$ 26,780,721 | |||
Insured - Housing — 0.1% | |||
Knox County Health Educational and Housing Facility Board, TN, (University of Tennessee), (BAM), 5.00%, 7/1/64 | $ | 2,275 | $ 2,349,370 |
$ 2,349,370 | |||
Insured - Lease Revenue/Certificates of Participation — 0.6% | |||
Hinds County, MS, (Mississippi Lease Purchase), (BAM), 4.625%, 9/1/54(1) | $ | 6,000 | $ 5,938,620 |
Indianapolis Local Public Improvement Bond Bank, IN, (BAM), 5.00%, 3/1/53 | 5,000 | 5,214,150 | |
$ 11,152,770 |
Security | Principal Amount (000's omitted) | Value | |
Insured - Special Tax Revenue — 3.1% | |||
Harris County-Houston Sports Authority, TX: | |||
(AGM), (NPFG), 0.00%, 11/15/34 | $ | 12,700 | $ 8,218,170 |
(NPFG), 0.00%, 11/15/26 | 9,395 | 8,747,215 | |
(NPFG), 0.00%, 11/15/28 | 9,605 | 8,335,987 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/26 | 1,115 | 1,038,121 | |
(NPFG), Escrowed to Maturity, 0.00%, 11/15/28 | 400 | 347,152 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place Expansion), (AGM), 0.00%, 12/15/56 | 10,000 | 2,343,200 | |
Miami-Dade County, FL, Professional Sports Franchise Facilities, (AGC), 7.00%, 10/1/39 | 14,500 | 16,861,615 | |
Newark, NJ, (Mulberry Pedestrian Bridge Redevelopment), (AGM), 5.375%, 11/15/52 | 2,000 | 2,227,940 | |
Port of Greater Cincinnati Development Authority, OH, (Duke Energy Convention Center), (AGM), 4.375%, 12/1/58 | 3,000 | 3,003,690 | |
Tolomato Community Development District, FL: | |||
(AGM), 3.75%, 5/1/39 | 2,500 | 2,460,250 | |
(AGM), 3.75%, 5/1/40 | 2,980 | 2,899,570 | |
$ 56,482,910 | |||
Insured - Transportation — 3.7% | |||
Allegheny County Airport Authority, PA, (Pittsburgh International Airport): | |||
(AGM), (AMT), 5.50%, 1/1/48 | $ | 3,300 | $ 3,567,201 |
(AGM), (AMT), 5.50%, 1/1/53 | 12,040 | 12,922,411 | |
Burbank-Glendale-Pasadena Airport Authority Brick Campaign, CA, (AGM), (AMT), 4.50%, 7/1/54 | 1,500 | 1,480,875 | |
Chicago, IL, (Midway International Airport), (BAM), (AMT), 5.75%, 1/1/48 | 6,355 | 6,996,346 | |
E-470 Public Highway Authority, CO, (NPFG), 0.00%, 9/1/37 | 6,665 | 3,554,978 | |
Foothill/Eastern Transportation Corridor Agency, CA, (AGM), 5.625%, 1/15/32 | 1,955 | 2,233,138 | |
Metropolitan Transportation Authority, NY, Green Bonds, (BAM), 4.00%, 11/15/48 | 5,000 | 4,784,200 | |
New York Transportation Development Corp., (John F. Kennedy International Airport): | |||
Green Bonds, (AGM), (AMT), 4.625%, 6/30/54 | 8,000 | 7,905,760 | |
Green Bonds, (AGM), (AMT), 5.00%, 6/30/54 | 5,000 | 5,134,550 | |
Green Bonds, (AGM), (AMT), 5.125%, 6/30/60 | 11,800 | 12,111,402 | |
Texas Turnpike Authority, (AMBAC), 0.00%, 8/15/30 | 9,440 | 7,635,261 | |
$ 68,326,122 |
6
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Insured - Water and Sewer — 0.1% | |||
Carmel, IN, Waterworks Revenue, (BAM), 4.25%, 5/1/53 | $ | 1,700 | $ 1,618,995 |
$ 1,618,995 | |||
Lease Revenue/Certificates of Participation — 2.3% | |||
Baltimore, MD, (Harbor Point), 5.00%, 6/1/51 | $ | 1,600 | $ 1,586,928 |
New Hampshire Business Finance Authority, (Centurion BioSquare, Inc.), 5.88%, 12/15/38 | 12,950 | 13,434,977 | |
New Jersey Economic Development Authority, (Portal North Bridge), 5.25%, 11/1/47 | 9,100 | 9,813,895 | |
New Jersey Economic Development Authority, (School Facilities Construction): | |||
5.00%, 6/15/43 | 960 | 989,050 | |
5.00%, 6/15/44 | 8,290 | 8,625,331 | |
New Jersey Educational Facilities Authority, (Higher Education Capital Improvement Fund), 4.625%, 9/1/48 | 3,500 | 3,591,490 | |
New Jersey Transportation Trust Fund Authority, (Transportation Program), 4.25%, 6/15/44 | 3,600 | 3,611,484 | |
$ 41,653,155 | |||
Nursing Home — 0.0%(3) | |||
Mississippi Business Finance Corp., (Magnolia Healthcare), 7.99%, 7/1/25 | $ | 115 | $ 115,143 |
$ 115,143 | |||
Other Revenue — 2.9% | |||
Buckeye Tobacco Settlement Financing Authority, OH: | |||
3.00%, 6/1/48 | $ | 4,545 | $ 3,383,707 |
5.00%, 6/1/55 | 28,635 | 25,897,208 | |
California Community Choice Financing Authority, Clean Energy Project Revenue, Green Bonds, 5.50% to 11/1/30 (Put Date), 10/1/54 | 4,315 | 4,758,064 | |
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 | 1,299,892 | |
Main Street Natural Gas, Inc., GA, Gas Supply Revenue, 5.00% to 12/1/30 (Put Date), 5/1/54 | 3,000 | 3,199,680 | |
Military Installation Development Authority, UT, 4.00%, 6/1/41 | 1,500 | 1,344,675 | |
Morongo Band of Mission Indians, CA, 5.00%, 10/1/42(1) | 2,040 | 2,085,716 | |
Patriots Energy Group Financing Agency, SC, Gas Supply Revenue, 5.25% to 8/1/31 (Put Date), 10/1/54 | 9,250 | 10,005,077 | |
$ 54,474,019 |
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care — 12.4% | |||
Atlantic Beach, FL, (Fleet Landing): | |||
5.00%, 11/15/37 | $ | 7,945 | $ 7,950,879 |
5.00%, 11/15/38 | 1,000 | 1,033,540 | |
California Municipal Finance Authority, (Mt. San Antonio Gardens), 4.00%, 11/15/52 | 880 | 736,419 | |
California Public Finance Authority, (Enso Village), Green Bonds, 3.125%, 5/15/29(1) | 360 | 352,894 | |
Centerville, OH, (Graceworks Lutheran Services), 5.25%, 11/1/37 | 3,250 | 3,269,662 | |
Clackamas County Hospital Facility Authority, OR, (Mary's Woods at Marylhurst), 5.00%, 5/15/48 | 425 | 407,401 | |
Clackamas County Hospital Facility Authority, OR, (Rose Villa): | |||
5.25%, 11/15/50 | 250 | 250,410 | |
5.375%, 11/15/55 | 300 | 300,699 | |
Colorado Health Facilities Authority, (Aberdeen Ridge): | |||
5.00%, 5/15/44 | 2,250 | 1,630,462 | |
5.00%, 5/15/58 | 2,525 | 1,625,923 | |
Colorado Health Facilities Authority, (Frasier Meadows Retirement Community), 5.25%, 5/15/37 | 750 | 767,670 | |
Connecticut Health and Educational Facilities Authority, (Church Home of Hartford, Inc.), 5.00%, 9/1/46(1) | 1,000 | 981,680 | |
Delaware Economic Development Authority, DE, (Acts Retirement Life Communities, Inc.), 5.25%, 11/15/53 | 5,000 | 5,169,550 | |
District of Columbia, (Ingleside at Rock Creek): | |||
5.00%, 7/1/32 | 1,600 | 1,623,808 | |
5.00%, 7/1/52 | 2,100 | 1,982,778 | |
Florida Development Finance Corp., (The Glenridge on Palmer Ranch), 5.00%, 6/1/51(1) | 7,000 | 6,818,840 | |
Franklin County Industrial Development Authority, PA, (Menno-Haven, Inc.), 5.00%, 12/1/38 | 1,000 | 1,003,610 | |
Franklin County, OH, (Ohio Living Communities): | |||
5.00%, 7/1/40 | 4,000 | 4,078,760 | |
5.50%, 7/1/41 | 6,000 | 6,395,220 | |
Fulton County Residential Care Facilities for the Elderly Authority, GA, (Canterbury Court): | |||
4.00%, 4/1/56(1) | 2,000 | 1,641,040 | |
5.00%, 4/1/47(1) | 1,000 | 981,450 | |
5.00%, 4/1/54(1) | 1,660 | 1,595,675 | |
Hamilton County, OH, (Life Enriching Communities), 5.75%, 1/1/53 | 3,000 | 3,155,250 | |
Harris County Cultural Education Facilities Finance Corp., TX, (Brazos Presbyterian Homes, Inc.): | |||
5.75%, 1/1/28 | 395 | 395,664 | |
6.375%, 1/1/33 | 60 | 60,126 | |
Howard County, MD, (Vantage House), 5.00%, 4/1/36 | 1,725 | 1,724,862 |
7
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Illinois Finance Authority, (Plymouth Place, Inc.), 5.00%, 5/15/41 | $ | 400 | $ 389,024 |
Iowa Finance Authority, (Lifespace Communities, Inc.): | |||
4.125%, 5/15/38 | 1,770 | 1,687,642 | |
5.00%, 5/15/43 | 2,750 | 2,759,020 | |
James City County Economic Development Authority, VA, (Williamsburg Landing), 6.875%, 12/1/58 | 2,600 | 2,874,352 | |
Lee County Industrial Development Authority, FL, (Shell Point Obligated Group): | |||
5.00%, 11/15/54 | 6,815 | 7,032,058 | |
5.25%, 11/15/54 | 3,000 | 3,160,980 | |
Massachusetts Development Finance Agency, (Linden Ponds, Inc.): | |||
5.00%, 11/15/33(1) | 1,550 | 1,611,674 | |
5.00%, 11/15/38(1) | 1,010 | 1,043,684 | |
Massachusetts Development Finance Agency, (NewBridge on the Charles, Inc.): | |||
5.00%, 10/1/37(1) | 1,300 | 1,331,447 | |
5.00%, 10/1/47(1) | 1,280 | 1,291,341 | |
5.00%, 10/1/57(1) | 2,410 | 2,419,616 | |
Massachusetts Development Finance Agency, (Salem Community Corp.), 5.125%, 1/1/40 | 1,020 | 1,014,094 | |
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 | 1,299,935 | |
Missouri Health and Educational Facilities Authority, (Lutheran Senior Services): | |||
5.25%, 2/1/48 | 1,000 | 1,056,940 | |
5.25%, 2/1/54 | 1,250 | 1,308,638 | |
Montgomery County Industrial Development Authority, PA, (Whitemarsh Continuing Care Retirement Community), 5.25%, 1/1/48 | 9,045 | 8,480,230 | |
Multnomah County Hospital Facilities Authority, OR, (Terwilliger Plaza), 4.00%, 12/1/51 | 2,250 | 1,735,537 | |
National Finance Authority, NH, (The Vista): | |||
5.25%, 7/1/39(1) | 585 | 585,725 | |
5.625%, 7/1/46(1) | 555 | 556,676 | |
5.75%, 7/1/54(1) | 1,745 | 1,748,263 | |
New Hope Cultural Education Facilities Finance Corp., TX, (Longhorn Village), 5.00%, 1/1/37 | 6,320 | 6,380,230 | |
New Hope Cultural Education Facilities Finance Corp., TX, (The Outlook at Windhaven), 6.75%, 10/1/52 | 15,000 | 14,831,550 | |
New Mexico Hospital Equipment Loan Council, (Haverland Carter Lifestyle Group), 5.00%, 7/1/49 | 16,000 | 15,342,400 | |
Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge): | |||
4.00%, 1/1/25 | 115 | 114,859 |
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): (continued) | |||
4.375%, 1/1/39 | $ | 1,250 | $ 1,155,713 |
5.00%, 1/1/49 | 6,000 | 5,548,260 | |
North Carolina Medical Care Commission, (EveryAge), 5.00%, 9/1/54 | 1,340 | 1,358,613 | |
North Carolina Medical Care Commission, (Penick Village), 5.50%, 9/1/54(5) | 1,665 | 1,693,904 | |
North Carolina Medical Care Commission, (United Methodist Retirement Homes), 5.125%, 10/1/54 | 1,000 | 1,031,360 | |
Palm Beach County Health Facilities Authority, FL, (Green Cay Life Plan Village), 11.50%, 7/1/27(1) | 6,020 | 7,643,534 | |
Palm Beach County Health Facilities Authority, FL, (Toby & Leon Cooperman Sinai Residences of Boca Raton), 4.25%, 6/1/56 | 1,935 | 1,653,922 | |
Public Finance Authority, WI, (Church Home of Hartford, Inc.), 5.00%, 9/1/30(1) | 770 | 770,370 | |
Public Finance Authority, WI, (Mary's Woods at Marylhurst): | |||
5.25%, 5/15/42(1) | 1,000 | 1,006,340 | |
5.25%, 5/15/47(1) | 1,335 | 1,335,587 | |
5.25%, 5/15/52(1) | 2,750 | 2,706,632 | |
South Carolina Jobs-Economic Development Authority, (Seafields Kiawah Island Project), 7.75%, 11/15/58 | 9,000 | 9,409,320 | |
South Carolina Jobs-Economic Development Authority, (South Carolina Episcopal Home at Still Hopes): | |||
5.00%, 4/1/30 | 1,945 | 1,982,111 | |
5.00%, 4/1/38 | 2,500 | 2,525,375 | |
St. Louis County Industrial Development Authority, MO, (Friendship Village of St. Louis), 5.00%, 9/1/38 | 1,250 | 1,273,900 | |
Tarrant County Cultural Education Facilities Finance Corp., TX, (MRC Stevenson Oaks): | |||
6.625%, 11/15/41 | 725 | 704,461 | |
6.75%, 11/15/51 | 3,250 | 3,076,255 | |
6.875%, 11/15/55 | 200 | 190,072 | |
Tempe Industrial Development Authority, AZ, (Friendship Village of Tempe), 4.00%, 12/1/56 | 4,265 | 3,464,502 | |
Tempe Industrial Development Authority, AZ, (Mirabella at ASU), 6.125%, 10/1/52(1) | 3,350 | 2,050,970 | |
Virginia Beach Development Authority, VA, (Westminster-Canterbury on Chesapeake Bay): | |||
7.00%, 9/1/53 | 2,000 | 2,288,980 | |
7.00%, 9/1/59 | 9,000 | 10,235,610 | |
Virginia Small Business Financing Authority, (Lifespire of Virginia): | |||
4.50%, 12/1/44(5) | 4,250 | 4,183,615 | |
5.50%, 12/1/54(5) | 2,250 | 2,362,905 |
8
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Senior Living/Life Care (continued) | |||
Washington Housing Finance Commission, (Bayview Manor Homes): | |||
5.00%, 7/1/36(1) | $ | 1,500 | $ 1,501,080 |
5.00%, 7/1/46(1) | 1,400 | 1,308,538 | |
Washington Housing Finance Commission, (Horizon House), 5.00%, 1/1/48(1) | 7,225 | 6,639,341 | |
Washington Housing Finance Commission, (Transforming Age): | |||
5.00%, 1/1/44(1) | 2,780 | 2,648,006 | |
5.00%, 1/1/49(1) | 695 | 642,673 | |
5.00%, 1/1/55(1) | 1,500 | 1,355,445 | |
Wisconsin Health and Educational Facilities Authority, (Dickson Hollow Phase II), 6.125%, 10/1/59 | 1,750 | 1,800,295 | |
Wisconsin Health and Educational Facilities Authority, (Oakwood Lutheran Senior Ministries), 4.00%, 1/1/57 | 1,000 | 818,790 | |
Wisconsin Health and Educational Facilities Authority, (Three Pillars Senior Living Communities): | |||
5.25%, 8/15/39 | 1,415 | 1,529,601 | |
5.75%, 8/15/54 | 920 | 990,527 | |
5.75%, 8/15/59 | 4,000 | 4,290,480 | |
$ 229,167,359 | |||
Special Tax Revenue — 7.4% | |||
Atlanta Development Authority, GA, (Westside Gulch Area), 5.50%, 4/1/39(1) | $ | 9,830 | $ 9,974,894 |
Hobe-St. Lucie Conservancy District, FL: | |||
5.60%, 5/1/44 | 1,000 | 1,031,730 | |
5.875%, 5/1/55 | 1,950 | 2,007,466 | |
Lakewood Ranch Stewardship District, FL, (Villages of Lakewood Ranch South), 5.00%, 5/1/36 | 3,685 | 3,722,992 | |
Maryland Economic Development Corp., (Port Covington), 4.00%, 9/1/50 | 585 | 495,173 | |
Metropolitan Development and Housing Agency, TN, (Fifth + Broadway Development Project), 5.125%, 6/1/36(1) | 1,800 | 1,823,274 | |
Metropolitan Pier and Exposition Authority, IL, (McCormick Place Expansion), 5.00%, 6/15/50 | 17,215 | 17,623,340 | |
Middleton Community Development District A, FL, 4.75%, 5/1/55(1) | 1,400 | 1,378,692 | |
New River Community Development District, FL, (Capital Improvements): | |||
5.00%, 5/1/13(6) | 1,005 | 10 | |
5.75%, 5/1/38 | 1,020 | 1,028,976 | |
New York City Transitional Finance Authority, NY, 4.375%, 5/1/53 | 5,000 | 5,047,900 |
Security | Principal Amount (000's omitted) | Value | |
Special Tax Revenue (continued) | |||
New York City Transitional Finance Authority, NY, Future Tax Revenue: | |||
5.00%, 11/1/46(2) | $ | 10,000 | $ 10,678,100 |
5.50%, 11/1/45(1)(2) | 10,000 | 11,129,700 | |
Ohio County, WV, (The Highlands), 5.25%, 6/1/53 | 3,400 | 3,474,324 | |
Oneida Indian Nation of New York, NY, 6.00%, 9/1/43(1) | 2,300 | 2,509,162 | |
Pennsylvania Turnpike Commission, Oil Franchise Tax Revenue, 4.00%, 12/1/51 | 5,000 | 4,727,550 | |
Puerto Rico Sales Tax Financing Corp.: | |||
0.00%, 7/1/46 | 28,623 | 9,398,362 | |
0.00%, 7/1/51 | 27,782 | 6,741,302 | |
4.75%, 7/1/53 | 9,834 | 9,766,539 | |
5.00%, 7/1/58 | 24,925 | 24,982,078 | |
Reno, NV, Sales Tax Revenue, 4.00%, 6/1/43 | 1,250 | 1,212,863 | |
South Village Community Development District, FL: | |||
4.875%, 5/1/35 | 500 | 502,920 | |
5.00%, 5/1/38 | 100 | 100,544 | |
Southern Hills Plantation I Community Development District, FL: | |||
Series A1, 5.80%, 5/1/35 | 883 | 836,919 | |
Series A2, 5.80%, 5/1/35(6) | 755 | 520,701 | |
St. Louis Land Clearance for Redevelopment Authority, MO, (Kiel Opera House Renovation), 3.875%, 10/1/35 | 360 | 328,133 | |
Tolomato Community Development District, FL, 3.00%, 5/1/32 | 1,535 | 1,419,553 | |
Winter Garden Village at Fowler Groves Community Development District, FL, 4.125%, 5/1/37 | 3,905 | 3,832,016 | |
$ 136,295,213 | |||
Transportation — 15.1% | |||
California Infrastructure and Economic Development Bank, (Brightline West Passenger Rail), (AMT), 8.00% to 8/15/25 (Put Date), 1/1/50(1) | $ | 4,170 | $ 4,297,185 |
California Municipal Finance Authority, (HumanGood - California Obligated Group), (AMT), 5.00%, 6/1/48 | 2,025 | 2,039,945 | |
California Municipal Finance Authority, (LINXS Automated People Mover), (AMT), 5.00%, 12/31/43 | 7,000 | 7,075,530 | |
Chicago, IL, (O'Hare International Airport): | |||
(AMT), 4.375%, 1/1/40 | 2,500 | 2,502,125 | |
(AMT), 5.00%, 1/1/53 | 5,915 | 5,998,875 | |
(AMT), 5.50%, 1/1/55(2) | 4,000 | 4,257,920 | |
(AMT), Tender Option Bond Trust Receipts/Certificates, (Liq: JPMorgan Chase Bank, N.A.), 4.55%, 7/1/27(1)(7) | 9,600 | 9,600,000 | |
Colorado High Performance Transportation Enterprise, (U.S. 36 and I-25 Managed Lanes), (AMT), 5.75%, 1/1/44 | 2,500 | 2,502,125 |
9
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Denver City and County, CO, Airport System Revenue, (AMT), 5.00%, 11/15/53 | $ | 8,385 | $ 8,636,466 |
Kentucky Public Transportation Infrastructure Authority, (Downtown Crossing Project): | |||
0.00%, 7/1/29 | 1,135 | 932,652 | |
0.00%, 7/1/30 | 500 | 383,865 | |
0.00%, 7/1/31 | 1,150 | 822,722 | |
Louisiana Public Facilities Authority, (I-10 Calcasieu River Bridge Public-Private Partnership), (AMT), 5.75%, 9/1/64 | 14,000 | 15,157,240 | |
Metropolitan Nashville Airport Authority, TN, (AMT), 5.50%, 7/1/52 | 3,500 | 3,759,455 | |
Metropolitan Transportation Authority, NY, Green Bonds, 5.25%, 11/15/55 | 11,500 | 12,046,135 | |
Metropolitan Washington Airports Authority, D.C., (AMT), 4.50%, 10/1/53 | 2,000 | 1,990,280 | |
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.125%, 1/1/34 | 5,000 | 5,004,850 | |
New Jersey Turnpike Authority, 4.125%, 1/1/54 | 3,735 | 3,711,918 | |
New York Thruway Authority, 4.00%, 1/1/45 | 7,770 | 7,509,317 | |
New York Transportation Development Corp., (John F. Kennedy Airport Terminal 6 Redevelopment), Green Bonds, (AMT), 5.50%, 12/31/60(5) | 8,000 | 8,466,080 | |
New York Transportation Development Corp., (John F. Kennedy International Airport): | |||
Green Bonds, (AMT), 5.375%, 6/30/60 | 15,220 | 15,775,682 | |
Green Bonds, (AMT), 5.50%, 6/30/54 | 7,750 | 8,198,570 | |
New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment): | |||
(AMT), 5.00%, 7/1/46 | 9,435 | 9,383,485 | |
(AMT), 5.25%, 1/1/50 | 11,520 | 11,519,539 | |
New York Transportation Development Corp., (Terminal 4 John F. Kennedy International Airport): | |||
(AMT), 5.00%, 12/1/29 | 4,700 | 4,978,240 | |
(AMT), 5.00%, 12/1/31 | 8,050 | 8,607,623 | |
Pennsylvania Economic Development Financing Authority, (PennDOT Major Bridges Package One): | |||
(AMT), 5.25%, 6/30/53 | 19,260 | 19,838,378 | |
(AMT), 6.00%, 6/30/61 | 5,000 | 5,471,700 | |
Phoenix Civic Improvement Corp., AZ, Airport Revenue, (AMT), 4.00%, 7/1/48 | 4,000 | 3,798,680 | |
Port of Portland, OR, (Portland International Airport), (AMT), 5.00%, 7/1/50 | 4,710 | 4,822,710 | |
Salt Lake City, UT, (Salt Lake City International Airport), (AMT), 5.00%, 7/1/47 | 7,360 | 7,440,077 | |
San Diego County Regional Airport Authority, CA, (San Diego International Airport), (AMT), 5.00%, 7/1/53 | 12,000 | 12,539,760 | |
South Jersey Port Corp., NJ, (AMT), 5.00%, 1/1/42 | 6,500 | 6,613,425 |
Security | Principal Amount (000's omitted) | Value | |
Transportation (continued) | |||
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Project), (AMT), 5.50%, 12/31/58 | $ | 5,525 | $ 5,932,137 |
Texas Private Activity Bond Surface Transportation Corp., (North Tarrant Express Segment 3C), (AMT), 5.00%, 6/30/58 | 13,405 | 13,593,206 | |
Texas Private Activity Bond Surface Transportation Corp., (NTE Mobility Partners Segments 3, LLC): | |||
(AMT), 5.50%, 6/30/42 | 1,765 | 1,892,451 | |
(AMT), 5.50%, 6/30/43 | 2,250 | 2,407,680 | |
Texas Transportation Commission, (State Highway System): | |||
0.00%, 8/1/36 | 550 | 330,836 | |
0.00%, 8/1/46 | 2,500 | 869,375 | |
Triborough Bridge and Tunnel Authority, NY, 5.00%, 11/15/51(2) | 7,000 | 7,369,040 | |
Virginia Small Business Financing Authority, (95 Express Lanes LLC Project): | |||
(AMT), 4.00%, 1/1/40 | 3,220 | 3,080,606 | |
(AMT), 4.00%, 1/1/48 | 2,560 | 2,307,840 | |
Virginia Small Business Financing Authority, (Transform 66 P3), (AMT), 5.00%, 12/31/52 | 14,250 | 14,425,987 | |
$ 277,891,712 | |||
Water and Sewer — 0.8% | |||
Jefferson County, AL, Sewer Revenue, 5.50%, 10/1/53 | $ | 2,840 | $ 3,076,941 |
New York City Municipal Water Finance Authority, NY, (Water and Sewer System), 5.25%, 6/15/52(2) | 3,000 | 3,255,270 | |
Texas Water Development Board, 4.25%, 10/15/51 | 8,900 | 8,880,954 | |
$ 15,213,165 | |||
Total Tax-Exempt Municipal Obligations (identified cost $1,730,154,878) | $1,770,535,029 |
Taxable Municipal Obligations — 5.8% |
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 |
10
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
Security | Principal Amount (000's omitted) | Value | |
Education — 0.3% | |||
California Municipal Finance Authority, (Albert Einstein Academies): | |||
4.35%, 8/1/38(1) | $ | 1,100 | $ 821,689 |
4.50%, 8/1/43(1) | 1,500 | 1,017,150 | |
Capital Trust Authority, FL, (Mason Classical Academy), 6.75%, 6/1/31(1) | 2,985 | 2,940,165 | |
San Antonio Education Facilities Corp., TX, (University of the Incarnate Word), 3.15%, 4/1/37 | 1,750 | 1,360,748 | |
$ 6,139,752 | |||
Escrowed/Prerefunded — 0.6% | |||
Chicago, IL, Prerefunded to 1/1/25, 7.75%, 1/1/42 | $ | 10,316 | $ 10,365,207 |
$ 10,365,207 | |||
General Obligations — 0.7% | |||
Atlantic City, NJ, 7.50%, 3/1/40 | $ | 5,440 | $ 6,171,626 |
Chicago, IL, 7.75%, 1/1/42 | 4,356 | 4,365,409 | |
Detroit, MI: | |||
Social Bonds, 3.11%, 4/1/28 | 830 | 777,519 | |
Social Bonds, 3.344%, 4/1/30 | 125 | 113,321 | |
Social Bonds, 3.644%, 4/1/34 | 500 | 434,615 | |
Puerto Rico, GO Contingent Value Instrument, 0.00%, 11/1/43 | 2,514 | 1,621,481 | |
$ 13,483,971 | |||
Hospital — 1.0% | |||
Middleburg Heights, OH, (Southwest General Health Center), 4.074%, 8/1/47 | $ | 6,000 | $ 4,623,060 |
New Mexico Hospital Equipment Loan Council, (Presbyterian Healthcare Services), (SPA: JPMorgan Chase Bank, N.A.), 4.80%, 8/1/42(7) | 13,700 | 13,700,000 | |
$ 18,323,060 | |||
Housing — 0.7% | |||
Florida Development Finance Corp., (The Henry Project), 8.00%, 6/1/37(1) | $ | 3,985 | $ 4,044,655 |
New York State Housing Finance Agency, (160 Madison Avenue LLC), (LOC: Landesbank Hessen-Thuringen Girozentrale), 4.80%, 11/1/46(7) | 9,195 | 9,195,000 | |
$ 13,239,655 | |||
Insured - General Obligations — 0.1% | |||
Detroit, MI, (AMBAC), 5.15%, 4/1/25 | $ | 1,675 | $ 1,674,589 |
Elmwood Park, IL, (AGM), 2.544%, 12/1/36 | 355 | 277,503 | |
$ 1,952,092 |
Security | Principal Amount (000's omitted) | Value | |
Insured - Transportation — 0.7% | |||
Alameda Corridor Transportation Authority, CA: | |||
(AGM), 0.00%, 10/1/41 | $ | 16,290 | $ 6,061,835 |
(AGM), 0.00%, 10/1/44 | 8,000 | 2,427,280 | |
(AGM), 0.00%, 10/1/46 | 15,000 | 3,973,200 | |
$ 12,462,315 | |||
Lease Revenue/Certificates of Participation — 0.5% | |||
New Hampshire Business Finance Authority, (Centurion BioSquare, Inc.), 9.58%, 12/15/38 | $ | 780 | $ 781,778 |
New Hampshire Business Finance Authority, (Centurion Foundation), 11.00%, 12/15/38 | 425 | 425,914 | |
New Jersey Transportation Trust Fund Authority, 5.754%, 12/15/28(8) | 7,375 | 7,501,703 | |
$ 8,709,395 | |||
Other Revenue — 0.1% | |||
Golden State Tobacco Securitization Corp., CA, 4.214%, 6/1/50 | $ | 3,300 | $ 2,463,153 |
$ 2,463,153 | |||
Special Tax Revenue — 1.1% | |||
American Samoa Economic Development Authority, 3.72%, 9/1/27(1) | $ | 1,115 | $ 1,046,929 |
Ohio County Commission, WV, (Fort Henry Economic Opportunity Development District - The Highlands): | |||
4.80%, 3/1/36 | 3,000 | 2,668,170 | |
5.25%, 3/1/31 | 2,910 | 2,839,695 | |
Oneida Indian Nation of New York, NY, 8.00%, 9/1/40(1) | 14,000 | 13,910,260 | |
$ 20,465,054 | |||
Total Taxable Municipal Obligations (identified cost $109,504,023) | $ 107,659,887 | ||
Total Investments — 103.5% (identified cost $1,870,038,362) | $1,908,815,692 | ||
Other Assets, Less Liabilities — (3.5)% | $ (64,228,088) | ||
Net Assets — 100.0% | $1,844,587,604 |
11
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
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 October 31, 2024, the aggregate value of these securities is $314,784,866 or 17.1% 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 and is non-income producing. |
(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 October 31, 2024. |
(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 October 31, 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 | 15.1% |
Others, representing less than 10% individually | 87.2% |
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 October 31, 2024, 10.7% 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 0.5% to 4.8% of total investments. |
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 |
Liq | – Liquidity Provider |
LOC | – Letter of Credit |
NPFG | – National Public Finance Guarantee Corp. |
PSF | – Permanent School Fund |
SFMR | – Single Family Mortgage Revenue |
SPA | – Standby Bond Purchase Agreement |
The Fund did not have any open derivative instruments at October 31, 2024.
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.
12
Eaton Vance
High Yield Municipal Income Fund
October 31, 2024
Portfolio of Investments (Unaudited) — continued
At October 31, 2024, the hierarchy of inputs used in valuing the Fund’s investments, which are carried at fair value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Corporate Bonds | $ — | $ 21,532,522 | $ — | $ 21,532,522 |
Tax-Exempt Mortgage-Backed Securities | — | 9,088,254 | — | 9,088,254 |
Tax-Exempt Municipal Obligations | — | 1,770,535,029 | — | 1,770,535,029 |
Taxable Municipal Obligations | — | 107,659,887 | — | 107,659,887 |
Total Investments | $ — | $1,908,815,692 | $ — | $1,908,815,692 |
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.
13