N-Q 1 a05-14190_1nq.htm N-Q

 

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

 

811-21148

Eaton Vance Insured New York Municipal Bond Fund

(Exact Name of Registrant as Specified in Charter)

The Eaton Vance Building,
255 State Street, Boston, Massachusetts

 

02109

(Address of Principal Executive Offices)

 

(Zip Code)

Alan R. Dynner, Esq.

Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and Address of Agent for Services)

(Registrant’s Telephone Number, Including Area Code)

 

(617) 482-8260

Date of Fiscal Year End

 

September 30

Date of Reporting Period

 

June 30, 2005

 

 




Item 1. Schedule of Investments

 




Eaton Vance Insured New York Municipal Bond Fund                                                                  as of June 30, 2005

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 159.1%

Principal
Amount
(000’s omitted)

 

Security

 

Value

 

 

 

Electric Utilities — 1.8%

 

 

 

$

1,950

 

Long Island Power Authority Electric System Revenue, 5.00%, 9/1/27

 

$

2,056,139

 

1,000

 

New York Power Authority, 5.25%, 11/15/40

 

1,079,940

 

1,000

 

Puerto Rico Electric Power Authority, 5.25%, 7/1/31

 

1,073,760

 

 

 

 

 

$

4,209,839

 

 

 

General Obligations — 8.4%

 

 

 

5,500

 

New York, 5.00%, 3/1/30

 

5,839,680

 

3,000

 

New York, 5.00%, 12/1/33

 

3,174,480

 

1,500

 

New York, 5.25%, 1/15/28

 

1,615,440

 

3,500

 

New York City, 5.25%, 8/15/26

 

3,810,625

 

3,075

 

New York City, 5.25%, 6/1/27

 

3,294,678

 

2,000

 

New York City, 5.25%, 1/15/33

 

2,148,540

 

 

 

 

 

$

19,883,443

 

 

 

Hospital — 5.8%

 

 

 

1,180

 

New York Dormitory Authority Revenue, (Lenox Hill Hospital), 5.50%, 7/1/30

 

1,245,856

 

1,750

 

New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center), 5.00%, 7/1/34

 

1,844,920

 

10,000

 

New York Dormitory Authority, (North General Hospital), 5.00%, 2/15/25

 

10,553,600

 

 

 

 

 

$

13,644,376

 

 

 

Insured-Electric Utilities — 5.0%

 

 

 

4,000

 

Long Island Power Authority Electric System Revenue, (FSA), 0.00%, 6/1/22

 

1,979,880

 

7,500

 

Long Island Power Authority, (AMBAC), 5.00%, 9/1/34

 

8,020,050

 

4,785

 

Long Island Power Authority, (FSA), 0.00%, 6/1/28

 

1,767,053

 

 

 

 

 

$

11,766,983

 

 

 

Insured-General Obligations — 3.0%

 

 

 

1,750

 

New York Dormitory Authority, (School Districts Financing Program), (MBIA), 5.00%, 10/1/30

 

1,852,918

 

2,700

 

Sachem Central School District, Holbrook, (MBIA), 5.00%, 10/15/26

 

2,895,669

 

2,085

 

Sachem Central School District, Holbrook, (MBIA), 5.00%, 10/15/28

 

2,236,100

 

 

 

 

 

$

6,984,687

 

 

1




 

 

 

 

 

Insured-Hospital — 22.9%

 

 

 

$

15,500

 

New York City Health and Hospital Corp., (Health Systems), (AMBAC), 5.00%, 2/15/23

 

$

16,632,585

 

10,600

 

New York Dormitory Authority, (Hospital Surgery), (MBIA), 5.00%, 2/1/38

 

10,925,526

 

6,800

 

New York Dormitory Authority, (Maimonides Medical Center), (MBIA), 5.00%, 8/1/33

 

7,268,112

 

4,000

 

New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center), (MBIA), 0.00%, 7/1/26

 

1,613,440

 

23,835

 

New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center), (MBIA), 0.00%, 7/1/28

 

8,683,806

 

26,070

 

New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center), (MBIA), 0.00%, 7/1/29

 

8,956,609

 

 

 

 

 

$

54,080,078

 

 

 

Insured-Other Revenue — 3.4%

 

 

 

5,535

 

New York City Cultural Resource, (American Museum of Natural History), (MBIA), 5.00%, 7/1/44

 

5,871,362

 

2,000

 

New York City Cultural Resource, (Wildlife Conservation Society), (FGIC), 5.00%, 2/1/34

 

2,134,320

 

 

 

 

 

$

8,005,682

 

 

 

Insured-Private Education — 28.5%

 

 

 

4,000

 

Madison County, IDA, (Colgate University), (MBIA), 5.00%, 7/1/39

 

4,268,720

 

16,500

 

New York City Industrial Development Agency, (New York University), (AMBAC), 5.00%, 7/1/41

 

17,220,720

 

11,500

 

New York Dormitory Authority, (Brooklyn Law School), (XLCA), 5.125%, 7/1/30

 

12,293,270

 

2,225

 

New York Dormitory Authority, (FIT Student Housing Corp.), (FGIC), 5.125%, 7/1/26

 

2,413,547

 

1,000

 

New York Dormitory Authority, (Iona College), (XLCA), 5.125%, 7/1/32

 

1,060,910

 

4,250

 

New York Dormitory Authority, (New York University), (AMBAC), 5.00%, 7/1/31

 

4,459,780

 

5,000

 

New York Dormitory Authority, (New York University), (AMBAC), 5.00%, 7/1/41

 

5,218,400

 

3,000

 

New York Dormitory Authority, (New York University), (AMBAC), 5.50%, 7/1/40

 

3,711,180

 

13,585

 

New York Dormitory Authority, (Rochester Institute of Technology), (AMBAC), 5.25%, 7/1/32

 

14,608,901

 

1,820

 

New York Dormitory Authority, (Rockefeller University), (MBIA), 4.75%, 7/1/37

 

1,858,984

 

 

 

 

 

$

67,114,412

 

 

2




 

 

 

 

 

Insured-Public Education — 6.3%

 

 

 

$

1,635

 

New York Dormitory Authority, (Educational Housing Services), (AMBAC), 5.25%, 7/1/22

 

$

1,884,272

 

1,870

 

New York Dormitory Authority, (Educational Housing Services), (AMBAC), 5.25%, 7/1/24

 

2,158,691

 

1,000

 

New York Dormitory Authority, (Educational Housing Services), (AMBAC), 5.25%, 7/1/25

 

1,158,180

 

9,500

 

New York Dormitory Authority, (University Educational Facility), (MBIA), 4.75%, 5/15/25

 

9,643,545

 

 

 

 

 

$

14,844,688

 

 

 

Insured-Solid Waste — 1.8%

 

 

 

1,790

 

Ulster County Resource Recovery Agency, Solid Waste System, (AMBAC), 0.00%, 3/1/21

 

937,548

 

1,240

 

Ulster County Resource Recovery Agency, Solid Waste System, (AMBAC), 0.00%, 3/1/22

 

618,152

 

1,090

 

Ulster County Resource Recovery Agency, Solid Waste System, (AMBAC), 0.00%, 3/1/23

 

516,660

 

1,490

 

Ulster County Resource Recovery Agency, Solid Waste System, (AMBAC), 0.00%, 3/1/24

 

672,109

 

3,735

 

Ulster County Resource Recovery Agency, Solid Waste System, (AMBAC), 0.00%, 3/1/25

 

1,605,154

 

 

 

 

 

$

4,349,623

 

 

 

Insured-Special Tax Revenue — 15.1%

 

 

 

15,560

 

Metropolitan Transportation Authority, Petroleum Tax Fund, (FSA), 5.00%, 11/15/32 (1)

 

16,468,237

 

7,250

 

New York City Transitional Finance Authority, (Future Tax), (MBIA), 5.00%, 5/1/31

 

7,675,865

 

8,300

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/28

 

2,983,352

 

4,430

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/37

 

1,029,000

 

35,000

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/44

 

5,721,100

 

5,750

 

Puerto Rico Infrastructure Financing Authority, (FGIC), 0.00%, 7/1/33

 

1,617,935

 

 

 

 

 

$

35,495,489

 

 

 

Insured-Transportation — 33.4%

 

 

 

32,500

 

Metropolitan Transportation Authority, (FSA), 5.00%, 11/15/30

 

34,439,275

 

5,775

 

Port Authority of New York and New Jersey, (MBIA), 5.125%, 10/15/30

 

6,080,324

 

 

3




 

 

 

$

11,500

 

Puerto Rico Highway and Transportation Authority, (MBIA), 5.00%, 7/1/33

 

$

12,260,610

 

24,600

 

Triborough Bridge and Tunnel Authority, (MBIA), 5.00%, 11/15/32

 

26,035,902

 

 

 

 

 

$

78,816,111

 

 

 

Insured-Water and Sewer — 11.0%

 

 

 

7,000

 

New York City Municipal Water Finance Authority, (AMBAC), 5.00%, 6/15/38

 

7,421,540

 

10,000

 

New York City Municipal Water Finance Authority, Water and Sewer, (MBIA), 5.125%, 6/15/34

 

10,630,400

 

7,500

 

Niagara Falls Public Water Authority and Sewer System, (MBIA), 5.00%, 7/15/34

 

7,966,200

 

 

 

 

 

$

26,018,140

 

 

 

Insured-Water Revenue — 0.5%

 

 

 

1,000

 

Buffalo Municipal Water Finance Authority, (FSA), 5.125%, 7/1/32

 

1,063,410

 

 

 

 

 

$

1,063,410

 

 

 

Lease Revenue/Certificates of Participation — 1.8%

 

 

 

4,000

 

Metropolitan Transportation Authority, Lease Contract, 5.125%, 1/1/29

 

4,257,160

 

 

 

 

 

$

4,257,160

 

 

 

Private Education — 2.1%

 

 

 

1,630

 

Madison County Industrial Development Agency, (Colgate University), 5.00%, 7/1/33

 

1,720,693

 

3,065

 

Rensselaer County Industrial Development Agency, (Rensselaer Polytech Institute), 5.125%, 8/1/27

 

3,201,484

 

 

 

 

 

$

4,922,177

 

 

 

Transportation — 8.3%

 

 

 

14,500

 

Port Authority of New York and New Jersey, 5.00%, 9/1/38

 

15,392,475

 

3,990

 

Puerto Rico Highway and Transportation Authority, 5.125%, 7/1/43

 

4,240,931

 

 

 

 

 

$

19,633,406

 

 

 

Total Tax-Exempt Investments — 159.1%
(identified cost $350,127,984)

 

$

375,089,704

 

 

 

Other Assets, Less Liabilities — 1.4%

 

$

3,241,838

 

 

 

Auction Preferred Shares Plus Cumulative Unpaid Dividends — (60.5)%

 

$

(142,515,334

)

 

 

Net Assets Applicable to Common Shares— 100.0%

 

$

235,816,208

 

 

4




 

 

 

AMBAC

AMBAC Financial Group, Inc.

FGIC

Financial Guaranty Insurance Company

FSA

Financial Security Assurance, Inc.

MBIA

Municipal Bond Insurance Association

XLCA

XL Capital Assurance, Inc.

 

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, 2005, 82.3% of the securities in the portfolio of 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 1.6% to 36.5% of total investments.

(1)

Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts.

 

A summary of financial instruments at June 30, 2005 is as follows:

Futures Contracts

Expiration

 

 

 

 

 

Aggregate

 

 

 

Net
Unrealized

 

Date

 

Contracts

 

Position

 

Cost

 

Value

 

Depreciation

 

09/05

 

726 U.S. Treasury Bond

 

 

Short

 

 

$

(84,656,307

)

$

(86,212,500

)

$

(1,556,193

)

 

At June 30, 2005, the Fund 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 June 30, 2005, as computed on a federal income tax basis, were as follows:

Aggregate cost

 

$

350,081,259

 

Gross unrealized appreciation

 

$

25,008,445

 

Gross unrealized depreciation

 

 

Net unrealized appreciation

 

$

25,008,445

 

 

5




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 on this Form N-Q 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 on this Form N-Q 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 Insured New York Municipal Bond Fund

By:

 

/s/ Thomas J. Fetter

 

 

Thomas J. Fetter

 

 

President and Principal Executive Officer

Date:

 

August 22, 2005

 

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/ Thomas J. Fetter

 

 

Thomas J. Fetter

 

 

President and Principal Executive Officer

Date:

 

August 22, 2005

By:

 

/s/ James L. O’Connor

 

 

James L. O’Connor

 

 

Treasurer and Principal Financial Officer

Date:

 

August 22, 2005