Eaton Vance Ohio Municipal Bond Fund | as of December 31, 2010 |
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
Electric Utilities 1.7%
|
||||||||
$ | 500 |
Ohio Air Quality Development Authority, (Buckeye Power, Inc.),
6.00%, 12/1/40
|
$ | 497,560 | ||||
$ | 497,560 | |||||||
General Obligations 5.1%
|
||||||||
$ | 900 |
Beavercreek, School District, 5.00%, 12/1/30
|
$ | 914,490 | ||||
500 |
County of Franklin,
5.00%, 12/1/27(1)
|
525,155 | ||||||
$ | 1,439,645 | |||||||
Hospital 5.6%
|
||||||||
$ | 500 |
Miami County, (Upper Valley Medical Center), 5.25%, 5/15/26
|
$ | 483,385 | ||||
735 |
Ohio Higher Educational Facilities Authority, (University
Hospital Health Systems, Inc.), 4.75%, 1/15/46
|
623,721 | ||||||
500 |
Ohio Higher Educational Facility Commission, (Summa Health
System), 5.75%, 11/15/40
|
474,725 | ||||||
$ | 1,581,831 | |||||||
Insured-Electric Utilities 20.8%
|
||||||||
$ | 700 |
American Municipal Power-Ohio, Inc., (Prairie State Energy
Campus), (AGC), 5.25%, 2/15/33
|
$ | 702,016 | ||||
2,750 |
Cleveland Public Power System, (NPFG), 0.00%, 11/15/27
|
1,058,420 | ||||||
1,000 |
Cleveland Public Power System, (NPFG), 0.00%, 11/15/38
|
183,140 | ||||||
1,670 |
Ohio Municipal Electric Generation Agency, (NPFG),
0.00%, 2/15/25
|
768,718 | ||||||
5,000 |
Ohio Municipal Electric Generation Agency, (NPFG),
0.00%, 2/15/27
|
2,007,850 | ||||||
755 |
Ohio Water Development Authority, (Dayton Power &
Light), (FGIC), 4.80%, 1/1/34
|
690,176 | ||||||
500 |
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/26
|
500,000 | ||||||
$ | 5,910,320 | |||||||
Insured-General Obligations 40.1%
|
||||||||
$ | 320 |
Bowling Green City School District, (AGM), 5.00%, 12/1/34
|
$ | 311,497 | ||||
200 |
Brookfield Local School District, (AGM), 5.00%, 1/15/30
|
201,352 | ||||||
1,000 |
Cleveland Municipal School District, (AGM), 5.00%, 12/1/27
|
1,013,260 | ||||||
900 |
Clyde-Green Springs Exempted Village School District, (AGM),
4.50%, 12/1/31
|
833,742 | ||||||
1,575 |
Cuyahoga Community College District, (AMBAC), 5.00%, 12/1/32
|
1,564,558 | ||||||
1,000 |
Milford Exempt Village School District, (AGC),
5.25%, 12/1/36
|
1,008,650 | ||||||
1,400 |
Olentangy Local School District, (AGC), 5.00%, 12/1/36
|
1,404,676 | ||||||
2,400 |
Plain School District, (FGIC), (NPFG), 0.00%, 12/1/27
|
888,960 | ||||||
750 |
St. Marys School District, (AGM), 5.00%, 12/1/35
|
718,545 | ||||||
500 |
Sylvania City School District, (AGC), 5.00%, 12/1/26
|
513,640 | ||||||
1,000 |
Sylvania City School District, (AGC), 5.00%, 12/1/32
|
996,660 | ||||||
2,000 |
Wapakoneta City School District, (AGM), 4.75%, 12/1/35
|
1,950,000 | ||||||
$ | 11,405,540 | |||||||
Insured-Hospital 12.9%
|
||||||||
$ | 820 |
Hamilton County, (Cincinnati Childrens Hospital), (FGIC),
(NPFG), 5.00%, 5/15/32
|
$ | 767,799 | ||||
1,500 |
Hamilton County, (Cincinnati Childrens Hospital), (FGIC),
(NPFG), 5.125%, 5/15/28
|
1,457,070 | ||||||
440 |
Lorain County, (Catholic Healthcare Partners), (AGM), Variable
Rate,
14.326%, 2/1/29(2)(3)(4) |
372,046 | ||||||
1,250 |
Ohio Higher Educational Facility Commission, (University
Hospital Health Systems, Inc.), (AMBAC), 4.75%, 1/15/46
|
1,060,750 | ||||||
$ | 3,657,665 | |||||||
Insured-Lease Revenue/Certificates of
Participation 3.5%
|
||||||||
$ | 235 |
Puerto Rico Public Buildings Authority, Government Facilities
Revenue, (XLCA), 5.25%, 7/1/36
|
$ | 217,608 | ||||
1,000 |
Summit County, (Civic Theater Project), (AMBAC),
5.00%, 12/1/33
|
788,530 | ||||||
$ | 1,006,138 | |||||||
Insured-Public Education 32.7%
|
||||||||
$ | 1,750 |
Cincinnati Technical and Community College, (AMBAC),
5.00%, 10/1/28
|
$ | 1,626,188 | ||||
1,000 |
Kent State University, (AGC), 5.00%, 5/1/26
|
1,026,320 |
Principal |
||||||||
Amount |
||||||||
(000s omitted) | Security | Value | ||||||
$ | 360 |
Kent State University, (AGC), 5.00%, 5/1/29
|
$ | 362,048 | ||||
2,000 |
Miami University, (AGM), (AMBAC), 3.25%, 9/1/26
|
1,616,200 | ||||||
500 |
Ohio University, (AGM), 5.00%, 12/1/33
|
484,400 | ||||||
1,170 |
Ohio University, (AGM), 5.25%, 12/1/23
|
1,220,029 | ||||||
1,000 |
University of Akron, (AGM), 5.00%, 1/1/38
|
974,700 | ||||||
1,000 |
University of Cincinnati, (AMBAC), 5.00%, 6/1/31
|
973,750 | ||||||
1,000 |
Youngstown State University, (AGC), 5.50%, 12/15/33
|
1,003,660 | ||||||
$ | 9,287,295 | |||||||
Insured-Sewer Revenue 2.5%
|
||||||||
$ | 615 |
Marysville Wastewater Treatment System, (AGC), (XLCA),
4.75%, 12/1/46
|
$ | 549,201 | ||||
180 |
Marysville Wastewater Treatment System, (AGC), (XLCA),
4.75%, 12/1/47
|
160,569 | ||||||
$ | 709,770 | |||||||
Insured-Special Tax Revenue 10.8%
|
||||||||
$ | 1,335 |
Hamilton County Sales Tax, (AMBAC), 0.00%, 12/1/23
|
$ | 673,734 | ||||
3,665 |
Hamilton County Sales Tax, (AMBAC), 0.00%, 12/1/24
|
1,729,697 | ||||||
8,430 |
Puerto Rico Sales Tax Financing Corp., (AMBAC),
0.00%, 8/1/54
|
439,456 | ||||||
1,525 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45
|
157,334 | ||||||
705 |
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/46
|
67,476 | ||||||
$ | 3,067,697 | |||||||
Insured-Transportation 1.7%
|
||||||||
$ | 500 |
Puerto Rico Highway and Transportation Authority, (AGC), (CIFG),
5.25%, 7/1/41(5)
|
$ | 475,950 | ||||
$ | 475,950 | |||||||
Pooled Loans 10.0%
|
||||||||
$ | 1,335 |
Cuyahoga County Port Authority, (Garfield Heights),
5.25%, 5/15/23
|
$ | 1,029,258 | ||||
700 |
Ohio Economic Development, (Ohio Enterprise Bond Fund),
6.00%, 12/1/34
|
718,900 | ||||||
1,140 |
Rickenbacker Port Authority, Oasbo Expanded Asset Pool Loan,
5.375%, 1/1/32(5)
|
1,094,298 | ||||||
$ | 2,842,456 | |||||||
Private Education 9.2%
|
||||||||
$ | 850 |
Ohio Higher Educational Facilities Authority, (John Carroll
University), 5.25%, 11/15/33
|
$ | 817,241 | ||||
1,000 |
Ohio Higher Educational Facilities Authority, (Oberlin College),
5.00%, 10/1/33
|
1,001,070 | ||||||
500 |
Ohio Higher Educational Facility Commission, (Kenyon College),
5.00%, 7/1/41
|
468,840 | ||||||
350 |
Ohio Higher Educational Facility Commission, (Kenyon College),
5.00%, 7/1/44
|
329,969 | ||||||
$ | 2,617,120 | |||||||
Public Education 4.8%
|
||||||||
$ | 1,325 |
Ohio State University, 5.00%, 12/1/30
|
$ | 1,352,706 | ||||
$ | 1,352,706 | |||||||
Total Tax-Exempt Investments 161.4%
(identified cost $47,801,901) |
$ | 45,851,693 | ||||||
Auction Preferred Shares Plus Cumulative Unpaid
Dividends (59.8)%
|
$ | (17,002,237 | ) | |||||
Other Assets, Less Liabilities (1.6)%
|
$ | (435,838 | ) | |||||
Net Assets Applicable to Common
Shares 100.0%
|
$ | 28,413,618 | ||||||
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares. | ||||||
AGC
|
- | Assured Guaranty Corp. | ||||
AGM
|
- | Assured Guaranty Municipal Corp. | ||||
AMBAC
|
- | AMBAC Financial Group, Inc. | ||||
CIFG
|
- | CIFG Assurance North America, Inc. | ||||
FGIC
|
- | Financial Guaranty Insurance Company | ||||
NPFG
|
- | National Public Finance Guaranty Corp. | ||||
XLCA
|
- | XL Capital Assurance, Inc. | ||||
The Fund invests primarily in debt securities issued by Ohio municipalities. The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality. In order to reduce the risk associated with such economic developments, at December 31, 2010, 77.5% 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 ranged from 1.0% to 22.8% of total investments. | ||||||
(1)
|
Security (or a portion thereof) has been pledged to cover margin requirements on open financial futures contracts. | |||||
(2)
|
Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at December 31, 2010. | |||||
(3)
|
Security is subject to a shortfall agreement which may require the Fund to pay amounts to a counterparty in the event of a significant decline in the market value of the security underlying the inverse floater. In case of a shortfall, the maximum potential amount of payments the Fund could ultimately be required to make under the agreement is $1,320,000. However, such shortfall payment would be reduced by the proceeds from the sale of the security underlying the inverse floater. | |||||
(4)
|
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to qualified institutional buyers) and remain exempt from registration. At December 31, 2010, the aggregate value of these securities is $372,046 or 1.3% of the Funds net assets applicable to common shares. | |||||
(5)
|
Security represents the underlying municipal bond of an inverse floater. |
Expiration |
Aggregate |
Net Unrealized |
||||||||||||||
Date | Contracts | Position | Cost | Value | Appreciation | |||||||||||
3/11
|
24 U.S. 30-Year Treasury Bond | Short | $ | (3,008,189 | ) | $ | (2,931,000 | ) | $ | 77,189 | ||||||
3/11
|
11 U.S. 10-Year Treasury Note | Short | (1,366,282 | ) | (1,324,813 | ) | 41,469 | |||||||||
$ | 118,658 | |||||||||||||||
Annual |
Effective Date/ |
Net Unrealized |
||||||||||||||
Notional |
Fixed Rate |
Floating Rate |
Termination |
Appreciation |
||||||||||||
Counterparty | Amount | Paid By Fund | Paid To Fund | Date | (Depreciation) | |||||||||||
Bank of America
|
$ | 750,000 | 4.092 | % |
3-month USD- LIBOR-BBA |
February 24, 2011 / February 24, 2041 |
$ | 6,723 | ||||||||
JPMorgan Chase Co.
|
737,500 | 4.163 |
3-month USD- LIBOR-BBA |
March 14, 2011 / March 14, 2041 |
(994 | ) | ||||||||||
$ | 5,729 | |||||||||||||||
Aggregate cost
|
$ | 46,697,608 | ||
Gross unrealized appreciation
|
$ | 890,646 | ||
Gross unrealized depreciation
|
(2,746,561 | ) | ||
Net unrealized depreciation
|
$ | (1,855,915 | ) | |
| 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 funds own assumptions in determining the fair value of investments) |
Quoted Prices in |
||||||||||||||||
Active Markets for |
Significant Other |
Significant |
||||||||||||||
Identical Assets | Observable Inputs | Unobservable Inputs | ||||||||||||||
Asset Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Tax-Exempt Investments
|
$ | | $ | 45,851,693 | $ | | $ | 45,851,693 | ||||||||
Total Investments
|
$ | | $ | 45,851,693 | $ | | $ | 45,851,693 | ||||||||
Futures Contracts
|
$ | 118,658 | $ | | $ | | $ | 118,658 | ||||||||
Interest Rate Swaps
|
| 6,723 | | 6,723 | ||||||||||||
Total
|
$ | 118,658 | $ | 45,858,416 | $ | | $ | 45,977,074 | ||||||||
Liability Description | ||||||||||||||||
Interest Rate Swaps
|
$ | | $ | (994 | ) | $ | | $ | (994 | ) | ||||||
Total
|
$ | | $ | (994 | ) | $ | | $ | (994 | ) | ||||||
By:
|
/s/ Cynthia J. Clemson
|
|||
President | ||||
Date: February 23, 2011 |
By:
|
/s/ Cynthia J. Clemson
|
|||
President | ||||
Date: February 23, 2011 | ||||
By:
|
/s/ Barbara E. Campbell
|
|||
Treasurer | ||||
Date: February 23, 2011 |