- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)
August 31 2009 - 6:01AM
Edgar (US Regulatory)
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 Insured 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
June 30, 2009
Date of Reporting Period
TABLE OF CONTENTS
Item 1.
Schedule of Investments
|
|
Eaton
Vance Insured Ohio Municipal Bond Fund
|
as of
June 30, 2009
|
PORTFOLIO
OF INVESTMENTS (Unaudited)
Tax-Exempt
Investments 162.8%
|
|
|
|
|
|
|
|
|
Principal
|
|
|
|
|
|
|
Amount
|
|
|
|
|
|
|
(000s omitted)
|
|
|
Security
|
|
Value
|
|
General Obligations 1.9%
|
$
|
500
|
|
|
County of Franklin,
5.00%, 12/1/27
(1)
|
|
$
|
529,925
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
529,925
|
|
|
|
|
|
|
|
|
|
|
Hospital 4.1%
|
$
|
500
|
|
|
Miami County, (Upper Valley Medical Center), 5.25%, 5/15/26
|
|
$
|
414,105
|
|
|
1,000
|
|
|
Ohio Higher Educational Facilities Authority, (University
Hospital Health Systems, Inc.), 4.75%, 1/15/46
|
|
|
750,140
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,164,245
|
|
|
|
|
|
|
|
|
|
|
Insured-Electric Utilities 22.2%
|
$
|
700
|
|
|
American Municipal Power-Ohio, Inc., (Prairie State Energy
Campus), (AGC), 5.25%, 2/15/33
|
|
$
|
708,183
|
|
|
2,750
|
|
|
Cleveland Public Power System, (NPFG), 0.00%, 11/15/27
|
|
|
1,006,610
|
|
|
1,000
|
|
|
Cleveland Public Power System, (NPFG), 0.00%, 11/15/38
|
|
|
181,530
|
|
|
1,670
|
|
|
Ohio Municipal Electric Generation Agency, (NPFG),
0.00%, 2/15/25
|
|
|
660,051
|
|
|
5,000
|
|
|
Ohio Municipal Electric Generation Agency, (NPFG),
0.00%, 2/15/27
|
|
|
1,690,000
|
|
|
1,775
|
|
|
Ohio Water Development Authority, (Dayton Power &
Light), (FGIC), 4.80%, 1/1/34
|
|
|
1,547,711
|
|
|
500
|
|
|
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/26
|
|
|
482,560
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
6,276,645
|
|
|
|
|
|
|
|
|
|
|
Insured-General Obligations 46.1%
|
$
|
320
|
|
|
Bowling Green City School District, (FSA), 5.00%, 12/1/34
|
|
$
|
315,904
|
|
|
200
|
|
|
Brookfield Local School District, (FSA), 5.00%, 1/15/30
|
|
|
202,492
|
|
|
1,000
|
|
|
Cleveland Municipal School District, (FSA), 5.00%, 12/1/27
|
|
|
1,020,480
|
|
|
900
|
|
|
Clyde-Green Springs Exempted Village School District, (FSA),
4.50%, 12/1/31
|
|
|
844,326
|
|
|
1,575
|
|
|
Cuyahoga Community College District, (AMBAC), 5.00%, 12/1/32
|
|
|
1,511,968
|
|
|
1,000
|
|
|
Milford Exempt Village School District, (AGC),
5.25%, 12/1/36
|
|
|
1,017,800
|
|
|
1,400
|
|
|
Olentangy Local School District, (AGC), 5.00%, 12/1/36
|
|
|
1,415,008
|
|
|
280
|
|
|
Olentangy Local School District, (FSA), 4.50%, 12/1/32
|
|
|
260,907
|
|
|
500
|
|
|
Olmsted Falls City School District, (XLCA), 5.00%, 12/1/35
|
|
|
474,020
|
|
|
520
|
|
|
Pickerington Local School District, (NPFG), 4.25%, 12/1/34
|
|
|
473,268
|
|
|
2,400
|
|
|
Plain School District, (FGIC), (NPFG), 0.00%, 12/1/27
|
|
|
800,760
|
|
|
750
|
|
|
St. Marys School District, (FSA), 5.00%, 12/1/35
|
|
|
732,765
|
|
|
500
|
|
|
Sylvania City School District, (AGC), 5.00%, 12/1/26
|
|
|
516,480
|
|
|
1,000
|
|
|
Sylvania City School District, (AGC), 5.00%, 12/1/32
|
|
|
1,002,550
|
|
|
500
|
|
|
Tecumseh School District, (FGIC), (NPFG), 4.75%, 12/1/31
|
|
|
466,015
|
|
|
2,000
|
|
|
Wapakoneta City School District, (FSA), 4.75%, 12/1/35
|
|
|
1,967,380
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
13,022,123
|
|
|
|
|
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
Principal
|
|
|
|
|
|
|
Amount
|
|
|
|
|
|
|
(000s omitted)
|
|
|
Security
|
|
Value
|
|
Insured-Hospital 13.1%
|
$
|
980
|
|
|
Hamilton County, (Cincinnati Childrens Hospital), (FGIC),
(NPFG), 5.00%, 5/15/32
|
|
$
|
894,024
|
|
|
1,500
|
|
|
Hamilton County, (Cincinnati Childrens Hospital), (FGIC),
(NPFG), 5.125%, 5/15/28
|
|
|
1,424,235
|
|
|
440
|
|
|
Lorain County, (Catholic Healthcare Partners), (FSA), Variable
Rate,
17.408%, 2/1/29
(2)(3)(4)
|
|
|
449,909
|
|
|
1,250
|
|
|
Ohio Higher Educational Facility Commission, (University
Hospital Health Systems, Inc.), (AMBAC), 4.75%, 1/15/46
|
|
|
937,675
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
3,705,843
|
|
|
|
|
|
|
|
|
|
|
Insured-Lease Revenue/Certificates of
Participation 6.4%
|
$
|
795
|
|
|
Puerto Rico Public Buildings Authority, (CIFG),
5.25%, 7/1/36
|
|
$
|
693,804
|
|
|
235
|
|
|
Puerto Rico Public Buildings Authority, Government Facilities
Revenue, (XLCA), 5.25%, 7/1/36
|
|
|
191,227
|
|
|
1,000
|
|
|
Summit County, (Civic Theater Project), (AMBAC),
5.00%, 12/1/33
|
|
|
925,630
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,810,661
|
|
|
|
|
|
|
|
|
|
|
Insured-Public Education 31.8%
|
$
|
3,000
|
|
|
Cincinnati Technical and Community College, (AMBAC),
5.00%, 10/1/28
|
|
$
|
2,720,340
|
|
|
2,000
|
|
|
Miami University, (AMBAC), (FSA), 3.25%, 9/1/26
|
|
|
1,566,940
|
|
|
500
|
|
|
Ohio University, (FSA), 5.00%, 12/1/33
|
|
|
495,110
|
|
|
1,170
|
|
|
Ohio University, (FSA), 5.25%, 12/1/23
|
|
|
1,197,706
|
|
|
1,000
|
|
|
University of Akron, (FSA), 5.00%, 1/1/38
|
|
|
992,490
|
|
|
1,000
|
|
|
University of Cincinnati, (AMBAC), 5.00%, 6/1/31
|
|
|
989,450
|
|
|
1,000
|
|
|
Youngstown State University, (AGC), 5.50%, 12/15/33
|
|
|
1,019,950
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
8,981,986
|
|
|
|
|
|
|
|
|
|
|
Insured-Sewer Revenue 4.7%
|
$
|
755
|
|
|
Marysville Wastewater Treatment System, (AGC), (XLCA),
4.75%, 12/1/46
|
|
$
|
662,090
|
|
|
750
|
|
|
Marysville Wastewater Treatment System, (AGC), (XLCA),
4.75%, 12/1/47
|
|
|
656,655
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,318,745
|
|
|
|
|
|
|
|
|
|
|
Insured-Special Tax Revenue 10.0%
|
$
|
1,335
|
|
|
Hamilton County Sales Tax, (AMBAC), 0.00%, 12/1/23
|
|
$
|
601,351
|
|
|
3,665
|
|
|
Hamilton County Sales Tax, (AMBAC), 0.00%, 12/1/24
|
|
|
1,536,295
|
|
|
8,430
|
|
|
Puerto Rico Sales Tax Financing, (AMBAC), 0.00%, 8/1/54
|
|
|
446,706
|
|
|
1,530
|
|
|
Puerto Rico Sales Tax Financing, (NPFG), 0.00%, 8/1/45
|
|
|
158,477
|
|
|
705
|
|
|
Puerto Rico Sales Tax Financing, (NPFG), 0.00%, 8/1/46
|
|
|
68,286
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
2,811,115
|
|
|
|
|
|
|
|
|
|
|
Insured-Transportation 8.5%
|
$
|
1,965
|
|
|
Cleveland Airport System, (FSA), 5.00%, 1/1/31
|
|
$
|
1,931,949
|
|
|
500
|
|
|
Puerto Rico Highway and Transportation Authority, (AGC), (CIFG),
5.25%, 7/1/41
(5)
|
|
|
480,557
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
2,412,506
|
|
|
|
|
|
|
|
|
|
|
Pooled Loans 7.7%
|
$
|
1,395
|
|
|
Cuyahoga County Port Authority, (Garfield Heights),
5.25%, 5/15/23
|
|
$
|
1,048,105
|
|
|
1,140
|
|
|
Rickenbacker Port Authority, Oasbo Expanded Asset Pool Loan,
5.375%, 1/1/32
(5)
|
|
|
1,133,392
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
2,181,497
|
|
|
|
|
|
|
|
|
|
|
2
|
|
|
|
|
|
|
|
|
Principal
|
|
|
|
|
|
|
Amount
|
|
|
|
|
|
|
(000s omitted)
|
|
|
Security
|
|
Value
|
|
Private Education 6.3%
|
$
|
850
|
|
|
Ohio Higher Educational Facilities Authority, (John Carroll
University), 5.25%, 11/15/33
|
|
$
|
780,019
|
|
|
1,000
|
|
|
Ohio Higher Educational Facilities Authority, (Oberlin College),
5.00%, 10/1/33
|
|
|
1,008,690
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
1,788,709
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Tax-Exempt Investments 162.8%
(identified cost $48,262,433)
|
|
$
|
46,004,000
|
|
|
|
|
|
|
|
|
|
|
|
Auction Preferred Shares Plus Cumulative Unpaid
Dividends (60.2)%
|
|
$
|
(17,000,425
|
)
|
|
|
|
|
|
|
|
|
|
|
Other Assets, Less Liabilities (2.6)%
|
|
$
|
(745,227
|
)
|
|
|
|
|
|
|
|
|
|
|
Net Assets Applicable to Common Shares 100.0%
|
|
$
|
28,258,348
|
|
|
|
|
|
|
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.
|
|
|
|
|
|
AMBAC
|
|
-
|
|
AMBAC Financial Group, Inc.
|
|
|
|
|
|
CIFG
|
|
-
|
|
CIFG Assurance North America, Inc.
|
|
|
|
|
|
FGIC
|
|
-
|
|
Financial Guaranty Insurance Company
|
|
|
|
|
|
FSA
|
|
-
|
|
Financial Security Assurance, Inc.
|
|
|
|
|
|
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
June 30, 2009, 87.7% 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 2.6% to 26.0% of
total investments.
|
|
|
|
|
|
(1)
|
|
|
|
Security (or a portion thereof) has been pledged to cover margin
requirements on open financial futures contracts.
|
|
|
|
|
|
(2)
|
|
|
|
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 June 30, 2009, the aggregate value
of these securities is $449,909 or 1.6% of the Funds net
assets applicable to common shares.
|
|
|
|
|
|
(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 has been issued as a leveraged inverse floater bond.
The stated interest rate represents the rate in effect at
June 30, 2009.
|
|
|
|
|
|
(5)
|
|
|
|
Security represents the underlying municipal bond of a tender
option bond trust.
|
3
A summary of financial instruments outstanding at June 30,
2009 is as follows:
Futures
Contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Unrealized
|
|
Expiration
|
|
|
|
|
|
Aggregate
|
|
|
|
|
|
Appreciation
|
|
Date
|
|
Contracts
|
|
Position
|
|
Cost
|
|
|
Value
|
|
|
(Depreciation)
|
|
9/09
|
|
34 U.S. Treasury Bond
|
|
Short
|
|
$
|
(3,963,611
|
)
|
|
$
|
(4,024,219
|
)
|
|
$
|
(60,608
|
)
|
9/09
|
|
21 U.S. Treasury Note
|
|
Short
|
|
|
(2,470,572
|
)
|
|
|
(2,441,578
|
)
|
|
|
28,994
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(31,614
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
Rate Swaps
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Annual
|
|
|
Floating
|
|
|
|
|
|
|
|
Notional
|
|
|
Fixed Rate
|
|
|
Rate
|
|
Effective Date/
|
|
Net Unrealized
|
|
Counterparty
|
|
Amount
|
|
|
Paid By Fund
|
|
|
Paid To Fund
|
|
Termination Date
|
|
Depreciation
|
|
JPMorgan Chase Co.
|
|
$
|
737,500
|
|
|
|
4.743
|
|
|
3-month USD-
LIBOR-BBA
|
|
September 14, 2009 /
September 14, 2039
|
|
$
|
(66,387
|
)
|
Merrill Lynch Capital Services, Inc.
|
|
|
750,000
|
|
|
|
4.517
|
|
|
3-month USD-
LIBOR-BBA
|
|
December 1, 2009 /
December 1, 2039
|
|
|
(32,562
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(98,949
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The effective date represents the date on which the Fund and the
counterparty to the interest rate swap contract begin interest
payment accruals.
At June 30, 2009, the Fund had sufficient cash
and/or
securities to cover commitments under these contracts.
The Fund is subject to interest rate risk in the normal course
of pursuing its investment objectives. Because the Fund holds
fixed rate bonds, the value of these bonds may decrease if
interest rates rise. To hedge against this risk, the Fund may
enter into interest rate swap contracts. The Fund may also
purchase and sell U.S. Treasury futures contracts to hedge
against changes in interest rates.
At June 30, 2009, the aggregate fair value of derivative
instruments (not accounted for as hedging instruments under
Financial Accounting Standards Board (FASB) Statement of
Financial Accounting Standards No. 133) in an asset position and
in a liability position and whose primary underlying risk
exposure is interest rate risk was $28,994 and $159,557,
respectively.
The cost and unrealized appreciation (depreciation) of
investments of the Fund at June 30, 2009, as determined on
a federal income tax basis, were as follows:
|
|
|
|
|
Aggregate cost
|
|
$
|
47,164,651
|
|
|
|
|
|
|
Gross unrealized appreciation
|
|
$
|
1,045,039
|
|
Gross unrealized depreciation
|
|
|
(3,215,690
|
)
|
|
|
|
|
|
Net unrealized depreciation
|
|
$
|
(2,170,651
|
)
|
|
|
|
|
|
The Fund adopted FASB Statement of Financial Accounting
Standards No. 157 (FAS 157), Fair Value
Measurements, effective October 1, 2008. FAS 157
established a three-tier hierarchy to prioritize the
assumptions, referred to as inputs, 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)
|
The inputs or methodology used for valuing securities are not
necessarily an indication of the risk associated with investing
in those securities.
4
At June 30, 2009, the inputs used in valuing the
Funds investments, which are carried at value, were as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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
|
|
$
|
|
|
|
$
|
46,004,000
|
|
|
$
|
|
|
|
$
|
46,004,000
|
|
Futures Contracts
|
|
|
28,994
|
|
|
|
|
|
|
|
|
|
|
|
28,994
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
28,994
|
|
|
$
|
46,004,000
|
|
|
$
|
|
|
|
$
|
46,032,994
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liability Description
|
|
|
|
|
|
|
|
|
|
|
|
|
Futures Contracts
|
|
$
|
(60,608
|
)
|
|
$
|
|
|
|
$
|
|
|
|
$
|
(60,608
|
)
|
Interest Rate Swaps
|
|
|
|
|
|
|
(98,949
|
)
|
|
|
|
|
|
|
(98,949
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
(60,608
|
)
|
|
$
|
(98,949
|
)
|
|
$
|
|
|
|
$
|
(159,557
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The Fund held no investments or other financial instruments as
of September 30, 2008 whose fair value was determined using
Level 3 inputs.
For information on the Funds policy regarding 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.
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.
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 Ohio Municipal Bond Fund
|
|
|
|
|
By:
|
|
/s/ Cynthia J. Clemson
|
|
|
|
|
|
|
|
|
|
Cynthia J. Clemson
|
|
|
|
|
President
|
|
|
|
|
|
|
|
Date:
|
|
August 20, 2009
|
|
|
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/ Cynthia J. Clemson
|
|
|
|
|
|
|
|
|
|
Cynthia J. Clemson
|
|
|
|
|
President
|
|
|
|
|
|
|
|
Date:
|
|
August 20, 2009
|
|
|
|
|
|
|
|
By:
|
|
/s/ Barbara E. Campbell
|
|
|
|
|
|
|
|
|
|
Barbara E. Campbell
|
|
|
|
|
Treasurer
|
|
|
|
|
|
|
|
Date:
|
|
August 20, 2009
|
|
|
Eaton Vance Ohio Municipal Bond Fund Common Shared of Befeficial Interest, $.01 Par Value (AMEX:EIO)
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