UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
811-21226
Investment Company Act File Number
Eaton Vance Ohio Municipal Bond Fund
(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
December 31, 2018
Date of Reporting Period
Item 1. Schedule of Investments
Eaton Vance
Ohio Municipal Bond Fund
December 31, 2018
PORTFOLIO OF INVESTMENTS (Unaudited)
Tax-Exempt Investments 156.1%
Security | Principal Amount (000s omitted) |
Value | ||||||
Bond Bank 4.0% |
||||||||
Ohio Economic Development, (Ohio Enterprise Bond Fund), 6.00%, 12/1/34 |
$ | 700 | $ | 754,565 | ||||
Rickenbacker Port Authority, (OASBO Expanded Asset Pooled Financing Program), 5.375%, 1/1/32 |
515 | 595,855 | ||||||
|
|
|||||||
$ | 1,350,420 | |||||||
|
|
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Education 7.3% |
||||||||
Ohio Higher Educational Facility Commission, (Kenyon College), 5.00%, 7/1/44 |
$ | 200 | $ | 207,858 | ||||
Ohio Higher Educational Facility Commission, (Oberlin College), 5.00%, 10/1/33 |
500 | 553,455 | ||||||
University of Cincinnati, 5.00%, 6/1/45(1) |
1,500 | 1,690,620 | ||||||
|
|
|||||||
$ | 2,451,933 | |||||||
|
|
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Electric Utilities 1.6% |
||||||||
Ohio Air Quality Development Authority, (Buckeye Power, Inc.), 6.00%, 12/1/40 |
$ | 500 | $ | 534,675 | ||||
|
|
|||||||
$ | 534,675 | |||||||
|
|
|||||||
Escrowed/Prerefunded 5.2% |
||||||||
Apollo Career Center Joint Vocational School District, Prerefunded to 12/1/21, |
$ | 270 | $ | 296,139 | ||||
Ohio Higher Educational Facility Commission, (Kenyon College), Prerefunded to 7/1/20, 5.00%, 7/1/44 |
105 | 109,805 | ||||||
Ohio Higher Educational Facility Commission, (Summa Health System), Prerefunded to 5/15/20, 5.75%, 11/15/40 |
290 | 304,903 | ||||||
Ohio Turnpike Commission, Prerefunded to 2/15/20, 5.00%, 2/15/31 |
1,000 | 1,035,880 | ||||||
|
|
|||||||
$ | 1,746,727 | |||||||
|
|
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General Obligations 37.2% |
||||||||
Cleveland, 5.00%, 12/1/43(1) |
$ | 2,225 | $ | 2,519,189 | ||||
Forest Hills Local School District, 5.00%, 12/1/46(1) |
2,225 | 2,478,361 | ||||||
Ohio, 5.00%, 2/1/37(1) |
2,225 | 2,525,041 | ||||||
Upper Arlington City School District, 5.00%, 12/1/48(1) |
2,225 | 2,535,165 | ||||||
Will County, 5.00%, 11/15/45(1) |
2,225 | 2,459,938 | ||||||
|
|
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$ | 12,517,694 | |||||||
|
|
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Hospital 20.0% |
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Allen County, (Mercy Health), 4.00%, 8/1/47(1) |
$ | 900 | $ | 905,436 | ||||
Franklin County, (Trinity Health Credit Group), 5.00%, 12/1/47(1) |
2,200 | 2,452,472 | ||||||
Hamilton County, (Cincinnati Childrens Hospital Medical Center), 5.00%, 5/15/34 |
250 | 277,485 | ||||||
Lucas County, (ProMedica Healthcare Obligated Group), 4.00%, 11/15/45 |
260 | 237,944 | ||||||
Middleburg Heights, (Southwest General Health Center), 5.25%, 8/1/36 |
500 | 538,265 | ||||||
Middleburg Heights, (Southwest General Health Center), 5.25%, 8/1/41 |
755 | 811,406 | ||||||
Ohio Higher Educational Facility Commission, (Cleveland Clinic Health System), 5.00%, 1/1/32 |
500 | 527,675 | ||||||
Ohio Higher Educational Facility Commission, (Summa Health System), 5.75%, 11/15/40 |
170 | 176,836 |
1
Security | Principal Amount (000s omitted) |
Value | ||||||
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), 5.00%, 1/15/27 |
$ | 565 | $ | 619,093 | ||||
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), 5.00%, 1/15/29 |
165 | 179,146 | ||||||
|
|
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$ | 6,725,758 | |||||||
|
|
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Insured Education 0.2% |
||||||||
Kent State University, (AGC), 5.00%, 5/1/26 |
$ | 80 | $ | 80,809 | ||||
|
|
|||||||
$ | 80,809 | |||||||
|
|
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Insured Electric Utilities 20.1% |
||||||||
Cleveland, Public Power System Revenue, (NPFG), 0.00%, 11/15/27 |
$ | 2,750 | $ | 2,068,082 | ||||
Cleveland, Public Power System Revenue, (NPFG), 0.00%, 11/15/38 |
1,000 | 448,840 | ||||||
Ohio Municipal Electric Generation Agency, (NPFG), 0.00%, 2/15/27 |
5,000 | 3,907,700 | ||||||
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/26 |
305 | 319,570 | ||||||
|
|
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$ | 6,744,192 | |||||||
|
|
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Insured Escrowed/Prerefunded 7.2% |
||||||||
Brooklyn City School District, (AGM), Prerefunded to 12/1/20, 5.00%, 12/1/38 |
$ | 445 | $ | 471,366 | ||||
Kent State University, (AGC), Prerefunded to 5/1/19, 5.00%, 5/1/26 |
920 | 930,037 | ||||||
Youngstown State University, (AGC), Prerefunded to 6/15/19, 5.50%, 12/15/33 |
1,000 | 1,016,900 | ||||||
|
|
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$ | 2,418,303 | |||||||
|
|
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Insured General Obligations 5.5% |
||||||||
Plain School District, (NPFG), 0.00%, 12/1/27 |
$ | 2,400 | $ | 1,848,480 | ||||
|
|
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$ | 1,848,480 | |||||||
|
|
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Insured Special Tax Revenue 12.6% |
||||||||
Hamilton County Sales Tax, (AMBAC), 0.00%, 12/1/23 |
$ | 1,245 | $ | 1,100,928 | ||||
Hamilton County Sales Tax, (AMBAC), 0.00%, 12/1/24 |
3,665 | 3,144,167 | ||||||
|
|
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$ | 4,245,095 | |||||||
|
|
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Insured Transportation 3.0% |
||||||||
Cleveland, Airport System Revenue, (AGM), 5.00%, 1/1/30 |
$ | 480 | $ | 514,843 | ||||
Puerto Rico Highway and Transportation Authority, (AGM), 5.00%, 7/1/32 |
475 | 486,880 | ||||||
|
|
|||||||
$ | 1,001,723 | |||||||
|
|
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Insured Water and Sewer 1.6% |
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Puerto Rico Aqueduct and Sewer Authority, (AGC), 5.00%, 7/1/28 |
$ | 535 | $ | 551,061 | ||||
|
|
|||||||
$ | 551,061 | |||||||
|
|
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Senior Living/Life Care 3.5% |
||||||||
Franklin County, (Friendship Village of Dublin), 5.00%, 11/15/44 |
$ | 525 | $ | 544,677 | ||||
Hamilton County, (Life Enriching Communities), 5.00%, 1/1/32 |
375 | 387,878 | ||||||
Warren County, (Otterbein Homes Obligated Group), 5.75%, 7/1/33 |
220 | 246,833 | ||||||
|
|
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$ | 1,179,388 | |||||||
|
|
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Special Tax Revenue 15.1% |
||||||||
Cleveland, Income Tax Revenue, 5.00%, 10/1/39(1) |
$ | 450 | $ | 511,272 | ||||
Cleveland, Income Tax Revenue, 5.00%, 10/1/43(1) |
1,800 | 2,032,830 | ||||||
Franklin County, Sales Tax Revenue, 5.00%, 6/1/38(1) |
1,100 | 1,280,169 | ||||||
Franklin County, Sales Tax Revenue, 5.00%, 6/1/43(1) |
1,100 | 1,268,465 | ||||||
|
|
|||||||
$ | 5,092,736 | |||||||
|
|
2
Security | Principal Amount (000s omitted) |
Value | ||||||
Water and Sewer 12.0% |
||||||||
Northeast Ohio Regional Sewer District, 4.00%, 11/15/33(1) |
$ | 1,000 | $ | 1,040,200 | ||||
Texas Water Development Board, 4.00%, 10/15/47(1) |
2,900 | 2,979,953 | ||||||
|
|
|||||||
$ | 4,020,153 | |||||||
|
|
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Total Tax-Exempt Investments
156.1% |
$ | 52,509,147 | ||||||
|
|
|||||||
Other Assets, Less Liabilities (56.1)% |
$ | (18,861,071 | ) | |||||
|
|
|||||||
Net Assets Applicable to Common Shares 100.0% |
$ | 33,648,076 | ||||||
|
|
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 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, 2018, 32.2% 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 2.8% to 16.4% of total investments.
(1) | Security represents the municipal bond held by a trust that issues residual interest bonds. |
Abbreviations:
AGC |
- | Assured Guaranty Corp. | ||
AGM |
- | Assured Guaranty Municipal Corp. | ||
AMBAC |
- | AMBAC Financial Group, Inc. | ||
NPFG |
- | National Public Finance Guaranty Corp. |
The Fund did not have any open derivative instruments at December 31, 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) |
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 December 31, 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 |
$ | | $ | 52,509,147 | $ | | $ | 52,509,147 | ||||||||
Total Investments |
$ | | $ | 52,509,147 | $ | | $ | 52,509,147 |
3
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.
Subsequent Event
On December 21, 2018, the shareholders of the Fund approved an Agreement and Plan of Reorganization providing for the reorganization of the Fund into the Eaton Vance Municipal Bond Fund. The transaction was completed as of the close of business on January 18, 2019.
4
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 Ohio Municipal Bond Fund
By: | /s/ Payson F. Swaffield | |
Payson F. Swaffield | ||
President | ||
Date: | February 25, 2019 |
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: | February 25, 2019 | |
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Treasurer | ||
Date: | February 25, 2019 |