UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-21218
Investment Company Act File Number
Eaton Vance New York Municipal Bond Fund II
(Exact Name of Registrant as Specified in Charter)
Two International Place, Boston, Massachusetts 02110
(Address of Principal Executive Offices)
Maureen A. Gemma
Two International Place, Boston, Massachusetts 02110
(Name and Address of Agent for Services)
(617) 482-8260
(Registrants Telephone Number, Including Area Code)
September 30
Date of Fiscal Year End
June 30, 2018
Date of Reporting Period
Item 1. Schedule of Investments
Eaton Vance
New York Municipal Bond Fund II
June 30, 2018
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Investments 164.7%
Security | Principal Amount (000s omitted) |
Value | ||||||
Bond Bank 10.6% |
||||||||
New York Environmental Facilities Corp., 5.00%, 10/15/39 |
$ | 750 | $ | 789,742 | ||||
New York Environmental Facilities Corp., Clean Water and Drinking Water, |
2,500 | 2,607,225 | ||||||
|
|
|||||||
$ | 3,396,967 | |||||||
|
|
|||||||
Education 34.1% |
||||||||
Geneva Development Corp., (Hobart and William Smith Colleges), 5.00%, 9/1/33 |
$ | 110 | $ | 122,333 | ||||
Geneva Development Corp., (Hobart and William Smith Colleges), Series 2012, 5.00%, 9/1/32 |
605 | 665,155 | ||||||
New York Dormitory Authority, (Columbia University), 5.00%, 10/1/38(1) |
2,000 | 2,374,760 | ||||||
New York Dormitory Authority, (Columbia University), 5.00%, 10/1/41 |
1,275 | 1,372,002 | ||||||
New York Dormitory Authority, (Cornell University), 5.00%, 7/1/37(1) |
1,275 | 1,350,187 | ||||||
New York Dormitory Authority, (New York University), 5.00%, 7/1/39(1) |
2,000 | 2,339,440 | ||||||
New York Dormitory Authority, (Rockefeller University), 5.00%, 7/1/34 |
100 | 110,530 | ||||||
New York Dormitory Authority, (Rockefeller University), 5.00%, 7/1/40 |
610 | 630,136 | ||||||
New York Dormitory Authority, (Skidmore College), 5.00%, 7/1/28 |
325 | 351,624 | ||||||
New York Dormitory Authority, (The New School), Prerefunded to 7/1/20, 5.50%, 7/1/40 |
1,000 | 1,073,190 | ||||||
Onondaga County Cultural Resources Trust, (Syracuse University), 5.00%, 12/1/38 |
515 | 577,557 | ||||||
|
|
|||||||
$ | 10,966,914 | |||||||
|
|
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Electric Utilities 4.1% |
||||||||
Utility Debt Securitization Authority, 5.00%, 12/15/33 |
$ | 1,160 | $ | 1,315,104 | ||||
|
|
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$ | 1,315,104 | |||||||
|
|
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Escrowed/Prerefunded 7.6% |
||||||||
Metropolitan Transportation Authority, Prerefunded to 11/15/20, 5.00%, 11/15/34 |
$ | 2,000 | $ | 2,154,360 | ||||
Triborough Bridge and Tunnel Authority, Prerefunded to 11/15/18, 5.00%, 11/15/38(1) |
300 | 304,107 | ||||||
|
|
|||||||
$ | 2,458,467 | |||||||
|
|
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General Obligations 8.0% |
||||||||
New York, 5.00%, 2/15/34(1) |
$ | 1,000 | $ | 1,074,760 | ||||
New York City, 5.00%, 8/1/34(1) |
1,350 | 1,509,975 | ||||||
|
|
|||||||
$ | 2,584,735 | |||||||
|
|
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Hospital 4.3% |
||||||||
New York Dormitory Authority, (Highland Hospital of Rochester), 5.00%, 7/1/26 |
$ | 135 | $ | 142,391 | ||||
New York Dormitory Authority, (Highland Hospital of Rochester), 5.20%, 7/1/32 |
180 | 189,830 |
1
Security | Principal Amount (000s omitted) |
Value | ||||||
New York Dormitory Authority, (Memorial Sloan Kettering Cancer Center), 4.375%, 7/1/34(1) |
$ | 500 | $ | 531,185 | ||||
Suffolk County Economic Development Corp., (Catholic Health Services of Long Island Obligated Group), 5.00%, 7/1/28 |
490 | 528,073 | ||||||
|
|
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$ | 1,391,479 | |||||||
|
|
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Housing 11.3% |
||||||||
New York City Housing Development Corp., 3.80%, 11/1/43 |
$ | 825 | $ | 829,414 | ||||
New York City Housing Development Corp., 4.05%, 11/1/41 |
330 | 337,339 | ||||||
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 3.20%, 11/1/46 |
675 | 622,755 | ||||||
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 4.00%, 11/1/42 |
500 | 514,895 | ||||||
New York Mortgage Agency, 3.60%, 10/1/34 |
515 | 521,546 | ||||||
New York Mortgage Agency, 3.90%, 10/1/36 |
810 | 822,239 | ||||||
|
|
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$ | 3,648,188 | |||||||
|
|
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Industrial Development Revenue 1.5% |
||||||||
New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35 |
$ | 380 | $ | 472,834 | ||||
|
|
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$ | 472,834 | |||||||
|
|
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Insured Education 3.8% |
||||||||
New York Dormitory Authority, (Barnard College), (NPFG), 5.00%, 7/1/24 |
$ | 290 | $ | 290,832 | ||||
New York Dormitory Authority, (Pratt Institute), (AGC), Prerefunded to 7/1/19, 5.00%, 7/1/34 |
345 | 356,527 | ||||||
New York Dormitory Authority, (Pratt Institute), (AGC), Prerefunded to 7/1/19, 5.125%, 7/1/39 |
545 | 563,879 | ||||||
|
|
|||||||
$ | 1,211,238 | |||||||
|
|
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Insured Electric Utilities 3.2% |
||||||||
Long Island Power Authority, Electric System Revenue, (BHAC), Prerefunded to 5/1/19, 5.50%, 5/1/33 |
$ | 500 | $ | 516,550 | ||||
Long Island Power Authority, Electric System Revenue, (BHAC), Prerefunded to 5/1/19, 6.00%, 5/1/33 |
500 | 518,810 | ||||||
|
|
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$ | 1,035,360 | |||||||
|
|
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Insured Escrowed/Prerefunded 3.6% |
||||||||
Hoosic Valley Central School District, (AGC), Prerefunded to 6/15/19, 4.00%, 6/15/23 |
$ | 250 | $ | 255,872 | ||||
Nassau County Sewer and Storm Water Finance Authority, (BHAC), Prerefunded to 11/1/18, 5.375%, 11/1/28 |
905 | 916,883 | ||||||
|
|
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$ | 1,172,755 | |||||||
|
|
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Insured General Obligations 3.5% |
||||||||
Longwood Central School District, Suffolk County, (AGC), 4.15%, 6/1/23 |
$ | 185 | $ | 185,363 | ||||
Longwood Central School District, Suffolk County, (AGC), 4.25%, 6/1/24 |
190 | 190,391 | ||||||
Oyster Bay, (AGM), 4.00%, 8/1/28 |
725 | 761,721 | ||||||
|
|
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$ | 1,137,475 | |||||||
|
|
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Insured Hospital 1.6% |
||||||||
New York City Health and Hospitals Corp., (AGM), 5.50%, 2/15/20 |
$ | 500 | $ | 501,555 | ||||
|
|
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$ | 501,555 | |||||||
|
|
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Insured Other Revenue 3.0% |
||||||||
New York City Transitional Finance Authority, (BHAC), 5.50%, 7/15/38 |
$ | 950 | $ | 952,755 | ||||
|
|
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$ | 952,755 | |||||||
|
|
2
Security | Principal Amount (000s omitted) |
Value | ||||||
Insured Special Tax Revenue 4.6% |
||||||||
New York Thruway Authority, Miscellaneous Tax Revenue, (AMBAC), 5.50%, 4/1/20 |
$ | 510 | $ | 544,435 | ||||
Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/35 |
1,700 | 650,896 | ||||||
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45 |
1,185 | 270,950 | ||||||
|
|
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$ | 1,466,281 | |||||||
|
|
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Lease Revenue/Certificates of Participation 1.8% |
||||||||
Hudson Yards Infrastructure Corp., 5.00%, 2/15/42(1) |
$ | 500 | $ | 570,525 | ||||
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|
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$ | 570,525 | |||||||
|
|
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Other Revenue 18.2% |
| |||||||
Brooklyn Arena Local Development Corp., (Barclays Center), 0.00%, 7/15/31 |
$ | 1,100 | $ | 674,333 | ||||
Brooklyn Arena Local Development Corp., (Barclays Center), 5.00%, 7/15/42 |
500 | 549,105 | ||||||
New York City Transitional Finance Authority, (Building Aid), 5.00%, 7/15/37(1) |
2,200 | 2,560,118 | ||||||
New York Liberty Development Corp., (7 World Trade Center), 5.00%, 9/15/32 |
1,865 | 2,053,719 | ||||||
|
|
|||||||
$ | 5,837,275 | |||||||
|
|
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Special Tax Revenue 18.7% |
| |||||||
New York City Transitional Finance Authority, Future Tax Revenue, 5.50%, 11/1/35(1) |
$ | 280 | $ | 303,842 | ||||
New York City Transitional Finance Authority, Future Tax Revenue, Prerefunded to 11/1/20, 5.50%, 11/1/35(1) |
220 | 238,416 | ||||||
New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 6/15/31(1) |
2,750 | 3,061,108 | ||||||
New York Dormitory Authority, Personal Income Tax Revenue, Series 2011A, 5.00%, 3/15/33 |
650 | 699,738 | ||||||
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/34 |
1,020 | 1,140,064 | ||||||
New York Thruway Authority, Miscellaneous Tax Revenue, Prerefunded to 4/1/20, 5.00%, 4/1/26 |
530 | 560,581 | ||||||
|
|
|||||||
$ | 6,003,749 | |||||||
|
|
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Senior Living/Life Care 0.8% |
| |||||||
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.00%, 11/1/24 |
$ | 20 | $ | 22,746 | ||||
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.25%, 11/1/25 |
50 | 58,135 | ||||||
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.25%, 11/1/26 |
30 | 35,157 | ||||||
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.25%, 11/1/36 |
125 | 142,421 | ||||||
|
|
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$ | 258,459 | |||||||
|
|
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Transportation 13.3% |
| |||||||
Metropolitan Transportation Authority, 4.00%, 11/15/42 |
$ | 1,240 | $ | 1,276,679 | ||||
Nassau County Bridge Authority, 5.00%, 10/1/35 |
350 | 370,860 | ||||||
Nassau County Bridge Authority, 5.00%, 10/1/40 |
65 | 68,757 | ||||||
Port Authority of New York and New Jersey, 5.00%, 12/1/34(1) |
820 | 924,017 | ||||||
Port Authority of New York and New Jersey, 5.00%, 10/15/36 |
30 | 34,702 | ||||||
Port Authority of New York and New Jersey, 5.00%, 10/15/36(1) |
1,200 | 1,388,064 | ||||||
Triborough Bridge and Tunnel Authority, 5.00%, 11/15/38(1) |
200 | 202,344 | ||||||
|
|
|||||||
$ | 4,265,423 | |||||||
|
|
3
Security | Principal Amount (000s omitted) |
Value | ||||||
Water and Sewer 7.1% |
| |||||||
New York City Municipal Water Finance Authority, (Water and Sewer System), |
$ | 2,000 | $ | 2,271,940 | ||||
|
|
|||||||
$ | 2,271,940 | |||||||
|
|
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Total Tax-Exempt Investments
164.7% |
$ | 52,919,478 | ||||||
|
|
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Institutional MuniFund Term Preferred Shares, at Liquidation Value (net of unamortized deferred offering costs) (17.8)% |
$ | (5,717,804 | ) | |||||
|
|
|||||||
Other Assets, Less Liabilities (46.9)% |
$ | (15,077,474 | ) | |||||
|
|
|||||||
Net Assets Applicable to Common Shares 100.0% |
$ | 32,124,200 | ||||||
|
|
The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.
The Fund invests primarily in debt securities issued by New York 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 June 30, 2018, 14.1% 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 1.1% to 5.5% of total investments.
(1) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
Abbreviations:
The Fund did not have any open derivative instruments at June 30, 2018.
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 funds own assumptions in determining the fair value of investments) |
4
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 June 30, 2018, the hierarchy of inputs used in valuing the Funds investments, which are carried at value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
Tax-Exempt Investments |
$ | | $ | 52,919,478 | $ | | $ | 52,919,478 | ||||||||
Total Investments |
$ | | $ | 52,919,478 | $ | | $ | 52,919,478 |
At June 30, 2018, there were no investments transferred between Level 1 and Level 2 during the fiscal year to date then ended.
For information on the Funds policy regarding the valuation of investments and other significant accounting policies, please refer to the Funds most recent financial statements included in its semiannual or annual report to shareholders.
Proposed Plan of Reorganization
In April 2018, the Trustees of the Fund approved an Agreement and Plan of Reorganization whereby Eaton Vance New York Municipal Bond Fund (New York Municipal Bond Fund) would acquire substantially all the assets and assume substantially all the liabilities of the Fund in exchange for common shares of New York Municipal Bond Fund. The proposed reorganization is subject to approval by the shareholders of the Fund.
5
Item 2. Controls and Procedures
(a) It is the conclusion of the registrants principal executive officer and principal financial officer that the effectiveness of the registrants 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 on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commissions rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrants principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrants 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 registrants internal control over financial reporting.
Item 3. Exhibits
A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act is attached hereto.
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 York Municipal Bond Fund II
By: | /s/ Payson F. Swaffield | |
Payson F. Swaffield | ||
President | ||
Date: | August 21, 2018 |
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/ Payson F. Swaffield | |
Payson F. Swaffield | ||
President | ||
Date: | August 21, 2018 |
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: | August 21, 2018 |