UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
REGISTERED
MANAGEMENT INVESTMENT COMPANIES
|
Investment Company Act File Number |
|
811-09155 |
|
Eaton Vance |
||
|
(Exact Name of Registrant as Specified in Charter) |
||
|
The Eaton Vance Building, |
|
02109 |
|
(Address of Principal Executive Offices) |
|
(Zip code) |
|
Alan R. Dynner, Esq. |
||
|
(Name and Address of Agent for Services) |
||
|
Registrant’s Telephone Number, Including Area Code: |
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(617) 482-8260 |
|
Date of Fiscal Year End: |
|
November 30 |
|
Date of Reporting Period: |
|
August 31, 2007 |
Item 1. Schedule of Investments
Eaton Vance New Jersey Municipal Income Trust as of August 31, 2007
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Investments — 177.2%
|
Principal |
|
|
|
|
|
||
|
Amount |
|
|
|
|
|
||
|
(000’s omitted) |
|
Security |
|
Value |
|
||
|
Education — 5.4% |
|
|
|
||||
|
$ |
250 |
|
New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/27 |
|
$ |
243,840 |
|
|
250 |
|
New Jersey Educational Facilities Authority, (Georgian Court University), 5.00%, 7/1/33 |
|
240,175 |
|
||
|
220 |
|
New Jersey Educational Facilities Authority, (Georgian Court University), 5.25%, 7/1/37 |
|
218,343 |
|
||
|
3,055 |
|
New Jersey Educational Facilities Authority, (Princeton University), 4.50%, 7/1/30 |
|
2,997,108 |
|
||
|
|
|
|
|
$ |
3,699,466 |
|
|
|
Electric Utilities — 2.2% |
|
|
|
||||
|
$ |
1,500 |
|
Salem County Pollution Control Financing, (Public Service Enterprise Group, Inc.), (AMT), 5.75%, 4/1/31 |
|
$ |
1,500,315 |
|
|
|
|
|
|
$ |
1,500,315 |
|
|
|
Escrowed / Prerefunded — 12.4% |
|
|
|
||||
|
$ |
3,935 |
|
New Jersey Educational Facilities Authority, (Princeton University), Prerefunded to 7/1/10, 5.00%, 7/1/20 |
|
$ |
4,048,249 |
|
|
460 |
|
New Jersey Health Care Facilities Financing Authority, (Atlantic City Medical Center), Prerefunded to 7/1/12, 5.75%, 7/1/25 |
|
500,618 |
|
||
|
950 |
|
Tobacco Settlement Financing Corp., Prerefunded to 6/1/13, 6.75%, 6/1/39 |
|
1,091,607 |
|
||
|
2,500 |
|
Tobacco Settlement Financing Corp., Prerefunded to 6/1/13, 6.75%, 6/1/39 (1) |
|
2,872,663 |
|
||
|
|
|
|
|
$ |
8,513,137 |
|
|
|
General Obligations — 5.2% |
|
|
|
||||
|
$ |
3,500 |
|
Puerto Rico Public Buildings Authority, Commonwealth Guaranteed, 5.25%, 7/1/29 |
|
$ |
3,591,630 |
|
|
|
|
|
|
$ |
3,591,630 |
|
|
|
Hospital — 29.8% |
|
|
|
||||
|
$ |
100 |
|
Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/25 |
|
$ |
95,567 |
|
|
90 |
|
Camden County Improvement Authority, (Cooper Health System), 5.00%, 2/15/35 |
|
82,885 |
|
||
|
100 |
|
Camden County Improvement Authority, (Cooper Health System), 5.25%, 2/15/27 |
|
97,558 |
|
||
|
2,750 |
|
Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/34 |
|
2,790,012 |
|
||
|
575 |
|
New Jersey Health Care Facilities Financing Authority, (Atlantic City Medical Center), 5.75%, 7/1/25 |
|
595,389 |
|
||
|
4,870 |
|
New Jersey Health Care Facilities Financing Authority, (Atlanticare Regional Medical Center), 5.00%, 7/1/37 |
|
4,726,432 |
|
||
|
2,140 |
|
New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.25%, 7/1/27 |
|
2,117,744 |
|
||
1
|
$ |
1,765 |
|
New Jersey Health Care Facilities Financing Authority, (Capital Health System), 5.375%, 7/1/33 |
|
$ |
1,757,534 |
|
|
2,000 |
|
New Jersey Health Care Facilities Financing Authority, (Hackensack University Medical Center), 6.00%, 1/1/34 |
|
2,056,540 |
|
||
|
450 |
|
New Jersey Health Care Facilities Financing Authority, (Hunterdon Medical Center), 5.125%, 7/1/35 |
|
446,341 |
|
||
|
750 |
|
New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), 6.50%, 7/1/21 |
|
798,142 |
|
||
|
2,000 |
|
New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), 5.75%, 7/1/31 |
|
2,075,100 |
|
||
|
1,100 |
|
New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/36 |
|
1,032,152 |
|
||
|
1,930 |
|
New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/46 |
|
1,756,589 |
|
||
|
|
|
|
|
$ |
20,427,985 |
|
|
|
Industrial Development Revenue — 11.8% |
|
|
|
||||
|
$ |
1,000 |
|
Gloucester County Improvements Authority, (Waste Management, Inc.), (AMT), 7.00%, 12/1/29 |
|
$ |
1,042,930 |
|
|
3,000 |
|
Middlesex County Pollution Control Authority, (Amerada Hess), 6.05%, 9/15/34 |
|
3,104,880 |
|
||
|
2,480 |
|
New Jersey Economic Development Authority, (Anheuser-Busch), (AMT), 4.95%, 3/1/47 |
|
2,301,192 |
|
||
|
750 |
|
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 6.25%, 9/15/29 |
|
760,493 |
|
||
|
750 |
|
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 9.00%, 6/1/33 |
|
875,018 |
|
||
|
|
|
|
|
$ |
8,084,513 |
|
|
|
Insured-Education — 7.1% |
|
|
|
||||
|
$ |
4,800 |
|
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Authority, (University Plaza), (MBIA), 5.00%, 7/1/33 (1) |
|
$ |
4,843,824 |
|
|
|
|
|
|
$ |
4,843,824 |
|
|
|
Insured-Electric Utilities — 1.9% |
|
|
|
||||
|
$ |
1,250 |
|
Vineland, (Electric Utility), (MBIA), (AMT), 5.25%, 5/15/26 |
|
$ |
1,276,663 |
|
|
|
|
|
|
$ |
1,276,663 |
|
|
|
Insured-Escrowed/Prerefunded — 12.6% |
|
|
|
||||
|
$ |
4,500 |
|
New Jersey Turnpike Authority, (MBIA), Prerefunded to 1/1/10, 5.50%, 1/1/30 (1) |
|
$ |
4,685,895 |
|
|
3,750 |
|
Newark Housing Authority, (Newark Marine Terminal), (MBIA), Prerefunded to 1/1/14, 5.00%, 1/1/37 (1) |
|
3,997,725 |
|
||
|
|
|
|
|
$ |
8,683,620 |
|
|
|
Insured-Gas Utilities — 7.2% |
|
|
|
||||
|
$ |
5,000 |
|
New Jersey Economic Development Authority, (New Jersey Natural Gas Co.), (FGIC), (AMT), 4.90%, 10/1/40 |
|
$ |
4,948,350 |
|
|
|
|
|
|
$ |
4,948,350 |
|
|
2
|
Insured-General Obligations — 6.5% |
|
|
|
||||
|
$ |
710 |
|
Bordentown Regional Board of Education, (MBIA), 4.25%, 1/15/33 |
|
$ |
663,800 |
|
|
2,000 |
|
Hudson County Improvements Authority, (MBIA), 0.00%, 12/15/33 |
|
537,660 |
|
||
|
475 |
|
Nutley School District (MBIA), 4.50%, 7/15/29 |
|
470,996 |
|
||
|
550 |
|
Nutley School District (MBIA), 4.75%, 7/15/30 |
|
557,552 |
|
||
|
725 |
|
Nutley School District (MBIA), 4.75%, 7/15/31 |
|
733,802 |
|
||
|
755 |
|
Nutley School District (MBIA), 4.75%, 7/15/32 |
|
763,864 |
|
||
|
931 |
|
Stafford Township, (MBIA), 3.00%, 7/1/30 |
|
698,231 |
|
||
|
|
|
|
|
$ |
4,425,905 |
|
|
|
Insured-Housing — 7.0% |
|
|
|
||||
|
$ |
3,390 |
|
New Jersey Housing and Mortgage Finance Agency, (FSA), (AMT), 5.05%, 5/1/34 |
|
$ |
3,319,251 |
|
|
810 |
|
New Jersey Housing and Mortgage Finance Agency, Multifamily Housing, (FGIC), (AMT), 5.00%, 11/1/36 |
|
785,165 |
|
||
|
230 |
|
New Jersey Housing and Mortgage Finance Agency, Multifamily Housing, (FSA), 5.75%, 5/1/25 |
|
235,964 |
|
||
|
465 |
|
Newark Housing Authority, (Newark Redevelopment Project), (MBIA), 4.375%, 1/1/37 |
|
436,128 |
|
||
|
|
|
|
|
$ |
4,776,508 |
|
|
|
Insured-Lease Revenue / Certificates of Participation — 2.3% |
|
|
|
||||
|
$ |
585 |
|
Gloucester County Improvements Authority, (MBIA), 4.75%, 9/1/30 |
|
$ |
587,902 |
|
|
1,075 |
|
Hudson County Improvements Authority, (FSA), 4.50%, 4/1/35 |
|
1,040,944 |
|
||
|
|
|
|
|
$ |
1,628,846 |
|
|
|
Insured-Special Tax Revenue — 19.5% |
|
|
|
||||
|
$ |
12,030 |
|
Garden Preservation Trust and Open Space and Farmland, (FSA), 0.00%, 11/1/24 |
|
$ |
5,355,756 |
|
|
6,000 |
|
Garden Preservation Trust and Open Space and Farmland, (FSA), 0.00%, 11/1/25 (3) |
|
2,525,700 |
|
||
|
4,315 |
|
New Jersey Economic Development Authority, (XLCA), 0.00%, 7/1/26 (2) |
|
1,674,436 |
|
||
|
2,020 |
|
New Jersey Economic Development Authority, (XLCA), 0.00%, 7/1/27 (2) |
|
743,986 |
|
||
|
16,115 |
|
Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54 |
|
1,423,277 |
|
||
|
2,745 |
|
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/44 |
|
415,538 |
|
||
|
5,445 |
|
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/45 |
|
782,882 |
|
||
|
3,425 |
|
Puerto Rico Sales Tax Financing, (MBIA), 0.00%, 8/1/46 |
|
467,547 |
|
||
|
|
|
|
|
$ |
13,389,122 |
|
|
|
Insured-Transportation — 9.3% |
|
|
|
||||
|
$ |
1,000 |
|
Delaware River Port Authority, (FSA), 5.625%, 1/1/26 |
|
$ |
1,033,540 |
|
|
3,250 |
|
Delaware River Port Authority, (FSA), 5.75%, 1/1/26 (4) |
|
3,369,438 |
|
||
|
875 |
|
Morristown Parking Authority, (MBIA), 4.50%, 8/1/37 |
|
846,598 |
|
||
|
1,205 |
|
Port Authority of New York and New Jersey, (CIFG), (AMT), 4.50%, 9/1/35 |
|
1,096,176 |
|
||
|
|
|
|
|
$ |
6,345,752 |
|
|
3
|
Insured-Water and Sewer — 7.3% |
|
|
|
||||
|
$ |
3,195 |
|
New Jersey Economic Development Authority, (United Water New Jersey, Inc.), (AMBAC), (AMT), 4.875%, 11/1/25 |
|
$ |
3,162,507 |
|
|
5,000 |
|
Rahway Valley Sewerage Authority, (MBIA), 0.00%, 9/1/27 |
|
1,880,800 |
|
||
|
|
|
|
|
$ |
5,043,307 |
|
|
|
Nursing Home — 2.9% |
|
|
|
||||
|
$ |
1,000 |
|
New Jersey Economic Development Authority, (Masonic Charity Foundation), 5.50%, 6/1/31 |
|
$ |
1,038,550 |
|
|
945 |
|
New Jersey Economic Development Authority, (Victoria Health), 5.20%, 12/20/36 (5) |
|
969,447 |
|
||
|
|
|
|
|
$ |
2,007,997 |
|
|
|
Other Revenue — 5.4% |
|
|
|
||||
|
$ |
7,200 |
|
Children’s Trust Fund, PR, Tobacco Settlement, 0.00%, 5/15/50 |
|
$ |
425,376 |
|
|
9,265 |
|
Children’s Trust Fund, PR, Tobacco Settlement, 0.00%, 5/15/55 |
|
320,198 |
|
||
|
4,270 |
|
Tobacco Settlement Financing Corp., 0.00%, 6/1/41 |
|
465,601 |
|
||
|
2,925 |
|
Tobacco Settlement Financing Corp., 4.75%, 6/1/34 |
|
2,469,782 |
|
||
|
|
|
|
|
$ |
3,680,957 |
|
|
|
Senior Living / Life Care — 4.0% |
|
|
|
||||
|
$ |
1,700 |
|
New Jersey Economic Development Authority, (Fellowship Village), 5.50%, 1/1/25 |
|
$ |
1,700,782 |
|
|
1,175 |
|
New Jersey Economic Development Authority, (Seabrook Village), 5.25%, 11/15/36 |
|
1,074,455 |
|
||
|
|
|
|
|
$ |
2,775,237 |
|
|
|
Special Tax Revenue — 8.0% |
|
|
|
||||
|
$ |
750 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.50%, 6/15/31 |
|
$ |
764,168 |
|
|
1,310 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.75%, 6/15/29 |
|
1,357,854 |
|
||
|
3,000 |
|
New Jersey Economic Development Authority, (Cigarette Tax), 5.75%, 6/15/34 (1) |
|
3,120,045 |
|
||
|
100 |
|
New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/27 |
|
97,683 |
|
||
|
175 |
|
New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/37 |
|
166,777 |
|
||
|
|
|
|
|
$ |
5,506,527 |
|
|
|
Transportation — 9.4% |
|
|
|
||||
|
$ |
4,800 |
|
Port Authority of New York and New Jersey, 5.375%, 3/1/28 (1) |
|
$ |
5,254,896 |
|
|
1,175 |
|
South Jersey Port Authority, (Marine Terminal), 5.10%, 1/1/33 |
|
1,191,062 |
|
||
|
|
|
|
|
$ |
6,445,958 |
|
|
|
Total Tax-Exempt
Investments — 177.2% |
|
$ |
121,595,619 |
|
|||
|
Other Assets, Less Liabilities — (21.8)% |
|
$ |
(14,992,710 |
) |
|||
|
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (55.4)% |
|
$ |
(38,000,000 |
) |
|||
|
Net Assets Applicable to Common Shares — 100.0% |
|
$ |
68,602,909 |
|
|||
4
|
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. |
|
CIFG |
— |
CDC IXIS Financial Guaranty North America, Inc. |
|
FGIC |
— |
Financial Guaranty Insurance Company |
|
FSA |
— |
Financial Security Assurance, Inc. |
|
MBIA |
— |
Municipal Bond Insurance Association |
|
XLCA |
— |
XL Capital Assurance, Inc. |
The Trust invests primarily in debt securities issued by New Jersey 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 August 31, 2007, 45.5% 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 0.9% to 20.3% of total investments.
|
(1) |
Security represents the underlying municipal obligation of an inverse floating rate obligation held by the Trust. |
|
(2) |
When-issued security. |
|
(3) |
Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts. |
|
(4) |
Security (or a portion thereof) has been segregated to cover when-issued securities. |
|
(5) |
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At August 31, 2007, the aggregate value of the securities is $969,447 or 1.4% of the Trust’s net assets applicable to common shares. |
A summary of financial instruments at August 31, 2007 is as follows:
Futures Contracts
|
Expiration |
|
|
|
|
|
Aggregate |
|
|
|
Net |
|
|||||||
|
Date |
|
Contracts |
|
Position |
|
Cost |
|
Value |
|
Appreciation |
|
|||||||
|
12/07 |
|
40 U.S. Treasury Bond |
|
|
Short |
|
|
$ |
(4,472,179 |
) |
$ |
(4,462,500 |
) |
|
$ |
9,679 |
|
|
Interest Rate Swaps
|
Counterparty |
|
Notional |
|
Annual |
|
Floating Rate |
|
Effective Date/ |
|
Unrealized |
|
||||||
|
Citibank, N.A. |
|
$ |
1,650,000 |
|
|
5.732 |
% |
|
3
month |
|
May 16,
2008/ |
|
|
$ |
(66,209 |
) |
|
|
Lehman Brothers, Inc. |
|
$ |
2,725,000 |
|
|
5.503 |
% |
|
3
month |
|
September
28, 2008/ |
|
|
|
|
|
|
|
Merrill Lynch Capital Services, Inc. |
|
$ |
4,375,000 |
|
|
5.817 |
% |
|
3
month |
|
April 1,
2008/ |
|
|
$ |
(240,596 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(322,327 |
) |
|
|
5
The effective date represents the date on which the Trust and the counterparty to the Interest Rate Swap contract begin interest payment accruals.
At August 31, 2007, the Trust had sufficient cash and/or securities to cover commitments under these contracts.
The cost and unrealized appreciation (depreciation) in value of the investments owned at August 31, 2007 as computed on a federal income tax basis, were as follows:
|
Aggregate cost |
|
$ |
104,884,645 |
|
|
Gross unrealized appreciation |
|
$ |
4,092,312 |
|
|
Gross unrealized depreciation |
|
(2,031,338 |
) |
|
|
Net unrealized appreciation |
|
$ |
2,060,974 |
|
6
Item 2. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Eaton Vance New Jersey Municipal Income Trust
|
By: |
|
/s/ Robert B. MacIntosh |
|
|
|
Robert B. MacIntosh |
|
|
|
President and Principal Executive Officer |
|
Date: |
|
October 23, 2007 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
By: |
|
/s/ Robert B. MacIntosh |
|
|
|
Robert B. MacIntosh |
|
|
|
President and Principal Executive Officer |
|
Date: |
|
October 23, 2007 |
|
By: |
|
/s/ Barbara E. Campbell |
|
|
|
Barbara E. Campbell |
|
|
|
Treasurer and Principal Financial Officer |
|
Date: |
|
October 23, 2007 |