Edgar Filing: EATON VANCE MICHIGAN MUNICIPAL INCOME TRUST

Eaton Vance Michigan Municipal Income Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act File Number: 811-09153

Eaton Vance Michigan Municipal Income Trust

(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

(Registrant’s Telephone Number)

November 30

Date of Fiscal Year End

May 31, 2017

Date of Reporting Period

Item 1. Reports to Stockholders

LOGO

Eaton Vance

Municipal Income Trusts

Semiannual Report

May 31, 2017

California (CEV) • Massachusetts (MMV) • Michigan (EMI) • New Jersey (EVJ)

New York (EVY) • Ohio (EVO) • Pennsylvania (EVP)

LOGO

Commodity Futures Trading Commission Registration. Effective December 31, 2012, the Commodity Futures Trading Commission (“CFTC”) adopted certain regulatory changes that subject registered investment companies and advisers to regulation by the CFTC if a fund invests more than a prescribed level of its assets in certain CFTC-regulated instruments (including futures, certain options and swap agreements) or markets itself as providing investment exposure to such instruments. Each Fund has claimed an exclusion from the definition of the term “commodity pool operator” under the Commodity Exchange Act. Accordingly, neither the Funds nor the adviser with respect to the operation of the Funds is subject to CFTC regulation. Because of its management of other strategies, each Fund’s adviser is registered with the CFTC as a commodity pool operator and a commodity trading advisor.

Fund shares are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Shares are subject to investment risks, including possible loss of principal invested.

Semiannual Report May 31, 2017

Eaton Vance

Municipal Income Trusts

Table of Contents


Performance and Fund Profile


California Municipal Income Trust			2
Massachusetts Municipal Income Trust			3
Michigan Municipal Income Trust			4
New Jersey Municipal Income Trust			5
New York Municipal Income Trust			6
Ohio Municipal Income Trust			7
Pennsylvania Municipal Income Trust			8



Endnotes and Additional Disclosures			9

Financial Statements			10

Annual Meeting of Shareholders			70

Board of Trustees’ Contract Approval			71

Officers and Trustees			75

Important Notices			76

Eaton Vance

California Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Craig R. Brandon, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		5.64	%		0.29	%		5.97	%		4.91	%
Fund at Market Price		—		4.95			–4.98			3.54			4.00
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–10.45	%


Distributions⁴
Total Distributions per share for the period												$	0.260
Distribution Rate at NAV													3.52	%
Taxable-Equivalent Distribution Rate at NAV													7.17	%
Distribution Rate at Market Price													3.93	%
Taxable-Equivalent Distribution Rate at Market Price													8.01	%


% Total Leverage⁵
Auction Preferred Shares (APS)													1.88	%
Institutional MuniFund Term Preferred (iMTP) Shares													29.47
Residual Interest Bond (RIB) Financing													4.60

Fund Profile

Credit Quality (% of total investments)^6,7

LOGO

See Endnotes and Additional Disclosures in this report.

Past performance is no guarantee of future results. Returns are historical and are calculated by determining the percentage change in net asset value (NAV) or market price (as applicable) with all distributions reinvested and include management fees and other expenses. Fund performance at market price will differ from its results at NAV due to factors such as changing perceptions about the Fund, market conditions, fluctuations in supply and demand for Fund shares, or changes in Fund distributions. Investment return and principal value will fluctuate so that shares, when sold, may be worth more or less than their original cost. Performance less than or equal to one year is cumulative. Performance is for the stated time period only; due to market volatility, current Fund performance may be lower or higher than the quoted return. For performance as of the most recent month-end, please refer to eatonvance.com.


		2

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Craig R. Brandon, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		6.18	%		–0.45	%		4.85	%		5.27	%
Fund at Market Price		—		3.89			–7.12			2.95			4.68
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–10.42	%


Distributions⁴
Total Distributions per share for the period												$	0.263
Distribution Rate at NAV													3.47	%
Taxable-Equivalent Distribution Rate at NAV													6.46	%
Distribution Rate at Market Price													3.87	%
Taxable-Equivalent Distribution Rate at Market Price													7.21	%


% Total Leverage⁵
APS													5.20	%
iMTP Shares													26.90
RIB Financing													1.46

Fund Profile

Credit Quality (% of total investments)^6,7

LOGO

See Endnotes and Additional Disclosures in this report.


		3

Eaton Vance

Michigan Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Cynthia J. Clemson


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		5.79	%		1.12	%		6.21	%		6.06	%
Fund at Market Price		—		4.68			–2.67			4.98			5.17
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–11.89	%


Distributions⁴
Total Distributions per share for the period												$	0.251
Distribution Rate at NAV													3.12	%
Taxable-Equivalent Distribution Rate at NAV													5.76	%
Distribution Rate at Market Price													3.54	%
Taxable-Equivalent Distribution Rate at Market Price													6.53	%


% Total Leverage⁵
APS													1.36	%
iMTP Shares													35.25

Fund Profile

Credit Quality (% of total investments)⁶

LOGO

*	Amount is less than 0.05%.

See Endnotes and Additional Disclosures in this report.


		4

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Adam A. Weigold, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		5.08	%		0.50	%		5.36	%		4.75	%
Fund at Market Price		—		4.88			–7.25			2.33			3.93
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–11.19	%


Distributions⁴
Total Distributions per share for the period												$	0.281
Distribution Rate at NAV													3.98	%
Taxable-Equivalent Distribution Rate at NAV													7.73	%
Distribution Rate at Market Price													4.48	%
Taxable-Equivalent Distribution Rate at Market Price													8.70	%


% Total Leverage⁵
APS													4.33	%
iMTP Shares													28.39
RIB Financing													5.22

Fund Profile

Credit Quality (% of total investments)^6,7

LOGO

See Endnotes and Additional Disclosures in this report.


		5

Eaton Vance

New York Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Craig R. Brandon, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		5.42	%		0.01	%		5.77	%		5.29	%
Fund at Market Price		—		3.23			–4.98			3.44			4.38
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–9.44	%


Distributions⁴
Total Distributions per share for the period												$	0.305
Distribution Rate at NAV													4.13	%
Taxable-Equivalent Distribution Rate at NAV													8.00	%
Distribution Rate at Market Price													4.56	%
Taxable-Equivalent Distribution Rate at Market Price													8.84	%


% Total Leverage⁵
APS													3.19	%
iMTP Shares													22.87
RIB Financing													12.52

Fund Profile

Credit Quality (% of total investments)^6,7

LOGO

See Endnotes and Additional Disclosures in this report.


		6

Eaton Vance

Ohio Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Cynthia J. Clemson


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		5.04	%		0.24	%		5.88	%		5.81	%
Fund at Market Price		—		3.73			–5.56			3.53			5.02
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–9.69	%


Distributions⁴
Total Distributions per share for the period												$	0.305
Distribution Rate at NAV													4.00	%
Taxable-Equivalent Distribution Rate at NAV													7.44	%
Distribution Rate at Market Price													4.43	%
Taxable-Equivalent Distribution Rate at Market Price													8.24	%


% Total Leverage⁵
APS													6.38	%
iMTP Shares													27.15
RIB Financing													2.15

Fund Profile

Credit Quality (% of total investments)^6,7

LOGO

See Endnotes and Additional Disclosures in this report.


		7

Eaton Vance

Pennsylvania Municipal Income Trust

May 31, 2017

Performance^1,2

Portfolio Manager Adam A. Weigold, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		3.98	%		1.05	%		5.53	%		5.17	%
Fund at Market Price		—		2.03			–1.63			3.01			4.36
Bloomberg Barclays Long (22+) Year Municipal Bond Index		—		6.46	%		1.45	%		4.57	%		5.01	%


% Premium/Discount to NAV³
													–11.99	%


Distributions⁴
Total Distributions per share for the period												$	0.265
Distribution Rate at NAV													3.63	%
Taxable-Equivalent Distribution Rate at NAV													6.62	%
Distribution Rate at Market Price													4.12	%
Taxable-Equivalent Distribution Rate at Market Price													7.51	%


% Total Leverage⁵
APS													7.31	%
iMTP Shares													29.56

Fund Profile

Credit Quality (% of total investments)⁶

LOGO

See Endnotes and Additional Disclosures in this report.


		8

Eaton Vance

Municipal Income Trusts

May 31, 2017

Endnotes and Additional Disclosures

Bloomberg Barclays Long (22+) Year Municipal Bond Index is an unmanaged index of municipal bonds traded in the U.S. with maturities of 22 years or more. Unless otherwise stated, index returns do not reflect the effect of any applicable sales charges, commissions, expenses, taxes or leverage, as applicable. It is not possible to invest directly in an index.

Performance results reflect the effects of leverage. Performance since inception for an index, if presented, is the performance since the Fund’s or oldest share class’ inception, as applicable. Included in the average annual total return at NAV for the five and ten year periods is the impact of the tender and repurchase of a portion of the Fund’s APS at 95.5% of the Fund’s APS per share liquidation preference. Had this transaction not occurred, the total return at NAV would be lower for the Fund.

³	The shares of the Fund often trade at a discount or premium from their net asset value. The discount or premium of the Fund may vary over time and may be higher or lower than what is quoted in this report. For up-to-date premium/discount information, please refer to http://eatonvance.com/closedend.

⁴

The Distribution Rate is based on the Fund’s last regular distribution per share in the period (annualized) divided by the Fund’s NAV or market price at the end of the period. The Fund’s distributions may be comprised of amounts characterized for federal income tax purposes as tax-exempt income, qualified and non-qualified ordinary dividends, capital gains and nondividend distributions, also known as return of capital. The Fund will determine the federal income tax character of distributions paid to a shareholder after the end of the calendar year. This is reported on the IRS form 1099-DIV and provided to the shareholder shortly after each year-end. For information about the tax character of distributions made in prior calendar years, please refer to Performance-Tax Character of Distributions on the Fund’s webpage available at eatonvance.com. The Fund’s distributions are determined by the investment adviser based on its current assessment of the Fund’s long-term return potential. Fund distributions may be affected by numerous factors including changes in Fund performance, the cost of financing for Funds that employ leverage, portfolio holdings, realized and projected returns, and other factors. As portfolio and market conditions change, the rate of distributions paid by the Fund could change. Taxable-equivalent performance is based on the highest combined federal and state income tax rates, where applicable. Lower tax rates would result in lower tax-equivalent performance. Actual tax rates will vary depending on your income, exemptions and deductions. Rates do not include local taxes. Subsequent distributions declared, but not reflected in Fund Performance, reflect a reduction of the monthly distribution for California Municipal Income Trust and Ohio Municipal Income Trust.

⁵

Fund employs RIB financing and/or APS and iMTP Shares leverage. The leverage created by RIB investments, APS and iMTP Shares provides an opportunity for increased income but, at the same time, creates special risks (including the likelihood of greater price volatility). The cost of leverage rises and falls with changes in short-term interest rates. See “Floating Rate Notes Issued in Conjunction with Securities Held” in the notes to the financial statements for more information about RIB financing. RIB leverage represents the amount of Floating Rate Notes outstanding at period end as a percentage of Fund net assets applicable to common shares plus APS, iMTP Shares and Floating Rate Notes. APS leverage represents the liquidation value of the Fund’s APS outstanding at period end as a percentage of Fund net assets applicable to common shares plus APS, iMTP Shares and Floating Rate Notes. iMTP Shares leverage represents the liquidation value of the Fund’s iMTP Shares outstanding at period end as a percentage of Fund net assets applicable to common shares plus APS, iMTP Shares and Floating Rate Notes. The Fund may be required to maintain prescribed asset coverage for its leverage and may be required to reduce its leverage at an inopportune time.

⁶

Ratings are based on Moody’s, S&P or Fitch, as applicable. If securities are rated differently by the ratings agencies, the higher rating is applied. Ratings, which are subject to change, apply to the creditworthiness of the issuers of the underlying securities and not to the Fund or its shares. Credit ratings measure the quality of a bond based on the issuer’s creditworthiness, with ratings ranging from AAA, being the highest, to D, being the lowest based on S&P’s measures. Ratings of BBB or higher by S&P or Fitch (Baa or higher by Moody’s) are considered to be investment-grade quality. Credit ratings are based largely on the ratings agency’s analysis at the time of rating. The rating assigned to any particular security is not necessarily a reflection of the issuer’s current financial condition and does not necessarily reflect its assessment of the volatility of a security’s market value or of the liquidity of an investment in the security. Holdings designated as “Not Rated” are not rated by the national ratings agencies stated above.

⁷	The chart includes the municipal bonds held by a trust that issues residual interest bonds, consistent with the Portfolio of Investments.

Fund profile subject to change due to active management.


		9

Eaton Vance

California Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited)


Tax-Exempt Municipal Securities — 147.1%


Security	Principal Amount (000’s omitted)		Value


Education — 8.8%
California Educational Facilities Authority, (Harvey Mudd College), 5.25%, 12/1/31	$	195	$	225,393
California Educational Facilities Authority, (Harvey Mudd College), 5.25%, 12/1/36		330		376,966
California Educational Facilities Authority, (Loyola Marymount University), 5.00%, 10/1/30		745		804,108
California Educational Facilities Authority, (Santa Clara University), 5.00%, 9/1/23		1,600		1,899,552
California Educational Facilities Authority, (University of San Francisco), 6.125%, 10/1/36		235		278,068
California Educational Facilities Authority, (University of the Pacific), 5.00%, 11/1/30		630		708,788
California Municipal Finance Authority, (University of San Diego), 5.00%, 10/1/31		415		468,124
California Municipal Finance Authority, (University of San Diego), 5.00%, 10/1/35		285		321,862
California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/26		810		936,214
California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/27		850		977,823
California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/28		895		1,023,137
University of California, Prerefunded to 5/15/19, 5.25%, 5/15/39		895		970,162

			$	8,990,197


Electric Utilities — 8.3%
Chula Vista, (San Diego Gas and Electric), 5.875%, 2/15/34	$	270	$	293,512
Los Angeles Department of Water and Power, Electric System Revenue, 5.25%, 7/1/32		2,170		2,274,551
Northern California Power Agency, 5.25%, 8/1/24		1,500		1,661,505
Sacramento Municipal Utility District, 5.00%, 8/15/27		995		1,149,384
Sacramento Municipal Utility District, 5.00%, 8/15/28		1,335		1,541,551
Southern California Public Power Authority, (Tieton Hydropower), 5.00%, 7/1/35		680		750,360
Vernon, Electric System Revenue, 5.125%, 8/1/21		775		835,690

			$	8,506,553


Escrowed / Prerefunded — 12.4%
California Department of Water Resources, Prerefunded to 6/1/18, 5.00%, 12/1/29	$	715	$	745,194
California Educational Facilities Authority, (Claremont McKenna College), Prerefunded to 1/1/19, 5.00%, 1/1/39		3,135		3,338,649


Security	Principal Amount (000’s omitted)		Value


Escrowed / Prerefunded (continued)
California Educational Facilities Authority, (University of Southern California), Prerefunded to 10/1/18, 5.25%, 10/1/39	$	2,490	$	2,638,006
California Health Facilities Financing Authority, (Providence Health System), Prerefunded to 10/1/18, 6.50%, 10/1/38		1,475		1,586,879
Sacramento Municipal Utility District, Prerefunded to 8/15/21, 5.00%, 8/15/27		340		394,842
Sacramento Municipal Utility District, Prerefunded to 8/15/21, 5.00%, 8/15/28		460		534,198
San Mateo Union High School District, (Election of 2006), Prerefunded to 9/1/23, 5.00%, 9/1/27		665		810,588
San Mateo Union High School District, (Election of 2006), Prerefunded to 9/1/23, 5.00%, 9/1/28		1,130		1,377,391
Tustin Community Facilities District No. 07-1, Prerefunded to 9/1/17, 6.00%, 9/1/37		500		506,460
University of California, Prerefunded to 5/15/19, 5.25%, 5/15/39		355		384,813
Vernon, Electric System Revenue, Prerefunded to 8/1/19, 5.125%, 8/1/21		335		355,921

			$	12,672,941


General Obligations — 34.6%
Alta Loma School District, (Election of 2016), 5.00%, 8/1/42	$	1,500	$	1,772,685
California, 5.00%, 10/1/31		1,885		2,240,586
California, 5.50%, 11/1/35		1,600		1,822,672
California, 6.00%, 4/1/38		750		819,855
Castro Valley Unified School District, (Election of 2016), 5.00%, 8/1/41		1,000		1,169,690
Escondido, 5.00%, 9/1/36		1,000		1,169,040
Glendale Community College District, (Election of 2016), 5.00%, 8/1/37		2,000		2,394,720
Montebello Unified School District, (Election of 2016), 5.00%, 8/1/41		2,000		2,339,380
Palo Alto, (Election of 2008), 5.00%, 8/1/40		3,655		4,053,907
Redondo Beach Unified School District, (Election of 2012), 4.00%, 8/1/40		1,000		1,054,140
San Bernardino Community College District, 4.00%, 8/1/30		2,890		3,152,210
San Dieguito Union High School District, (Election of 2012), 4.00%, 8/1/30		1,545		1,686,105
San Jose-Evergreen Community College District, (Election of 2010), 5.00%, 8/1/35		860		986,635
San Mateo Union High School District, (Election of 2006), 5.00%, 9/1/27		650		777,510
San Mateo Union High School District, (Election of 2006), 5.00%, 9/1/28		1,100		1,309,066
Santa Clara County, (Election of 2008), 5.00%, 8/1/39⁽¹⁾		3,180		3,442,096


		10		See Notes to Financial Statements.

Eaton Vance

California Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


General Obligations (continued)
Santa Clarita Community College District, 4.00%, 8/1/46	$	2,500	$	2,637,375
Torrance Unified School District, (Election of 2008), 5.00%, 8/1/35		2,150		2,497,999

			$	35,325,671


Hospital — 11.0%
California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/27	$	1,000	$	1,130,640
California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/28		190		215,067
California Health Facilities Financing Authority, (City of Hope), 5.00%, 11/15/32		635		724,173
California Health Facilities Financing Authority, (City of Hope), 5.00%, 11/15/35		910		1,037,291
California Health Facilities Financing Authority, (Memorial Health Services), 5.00%, 10/1/27		2,000		2,312,180
California Health Facilities Financing Authority, (Memorial Health Services), 5.00%, 10/1/33		1,000		1,140,690
California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/33		1,145		1,315,342
California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/37		535		609,065
Washington Township Health Care District, 5.00%, 7/1/32		2,780		2,785,893

			$	11,270,341


Insured – Education — 1.4%
California Educational Facilities Authority, (Santa Clara University), (NPFG), 5.00%, 9/1/23	$	1,250	$	1,478,413

			$	1,478,413


Insured – Escrowed / Prerefunded — 12.6%
Foothill/Eastern Transportation Corridor Agency, (AGC), (AGM), Escrowed to Maturity, 0.00%, 1/1/26	$	5,130	$	4,328,181
Glendale, Electric System Revenue, (AGC), Prerefunded to 2/1/18, 5.00%, 2/1/31		2,790		2,868,176
Riverside Community College District, (Election of 2004), (AGM), (NPFG), Prerefunded to 8/1/17, 5.00%, 8/1/32		2,005		2,019,336
San Diego County Water Authority, Certificates of Participation, (AGM), Prerefunded to 5/1/18, 5.00%, 5/1/38⁽¹⁾		3,500		3,635,695

			$	12,851,388


Insured – General Obligations — 5.0%
Cotati-Rohnert Park Unified School District, (BAM), 5.00%, 8/1/39	$	1,000	$	1,149,340
Sweetwater Union High School District, (Election of 2000), (AGM), 0.00%, 8/1/25		4,720		3,912,266

			$	5,061,606


Security	Principal Amount (000’s omitted)		Value


Insured – Lease Revenue / Certificates of Participation — 4.3%
Anaheim Public Financing Authority, (Public Improvements), (AGM), 0.00%, 9/1/17	$	4,410	$	4,399,989

			$	4,399,989


Insured – Special Tax Revenue — 5.5%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	4,850	$	982,416
Successor Agency to Dinuba Redevelopment Agency, (BAM), 5.00%, 9/1/28		370		436,434
Successor Agency to Rosemead Community Development Commission, (BAM), 5.00%, 10/1/27		1,440		1,746,331
Successor Agency to San Francisco City and County Redevelopment Agency, (NPFG), 5.00%, 8/1/41		2,100		2,432,514

			$	5,597,695


Insured – Transportation — 6.5%
Alameda Corridor Transportation Authority, (AMBAC), 0.00%, 10/1/29	$	5,000	$	3,127,800
Alameda Corridor Transportation Authority, (NPFG), 0.00%, 10/1/31		4,500		2,738,610
Puerto Rico Highway and Transportation Authority, (AGC), 5.25%, 7/1/41		740		803,892

			$	6,670,302


Lease Revenue / Certificates of Participation — 1.0%
California Public Works Board, 5.00%, 11/1/38	$	915	$	1,044,573

			$	1,044,573


Other Revenue — 0.4%
California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/32	$	385	$	391,718

			$	391,718


Senior Living / Life Care — 1.6%
ABAG Finance Authority for Nonprofit Corporations, (Episcopal Senior Communities), 6.00%, 7/1/31	$	290	$	323,547
California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 7.25%, 11/15/41⁽²⁾		600		666,852
California Statewide Communities Development Authority, (The Redwoods, a Community of Seniors), 5.125%, 11/15/35		535		623,789

			$	1,614,188


		11		See Notes to Financial Statements.

Eaton Vance

California Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Special Tax Revenue — 18.1%
Aliso Viejo Community Facilities District No. 2005-01, Special Tax Revenue, (Glenwood at Aliso Viejo), 5.00%, 9/1/30	$	770	$	871,825
Brentwood Infrastructure Financing Authority, 5.00%, 9/2/26		285		291,256
Brentwood Infrastructure Financing Authority, 5.00%, 9/2/34		460		469,821
Fontana Redevelopment Agency, (Jurupa Hills), 5.60%, 10/1/27		1,590		1,613,564
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/22		240		274,774
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/23		480		550,824
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/24		240		275,412
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/25		335		384,131
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/26		240		275,198
San Francisco Bay Area Rapid Transit District, Sales Tax Revenue, 5.00%, 7/1/28		2,400		2,683,752
Santa Clara Valley Transportation Authority, Sales Tax Revenue, 5.00%, 4/1/34		1,000		1,175,260
Santa Clara Valley Transportation Authority, Sales Tax Revenue, 5.00%, 4/1/36		1,250		1,460,362
South Orange County Public Financing Authority, Special Tax Revenue, (Ladera Ranch), 5.00%, 8/15/27		485		546,634
South Orange County Public Financing Authority, Special Tax Revenue, (Ladera Ranch), 5.00%, 8/15/28		725		813,776
Successor Agency to La Quinta Redevelopment Agency, 5.00%, 9/1/28		1,600		1,877,568
Successor Agency to San Diego Redevelopment Agency, 5.00%, 9/1/31		2,000		2,388,680
Successor Agency to Union City Community Redevelopment Agency, 5.00%, 10/1/32		1,360		1,595,307
Successor Agency to Union City Community Redevelopment Agency, 5.00%, 10/1/36		800		924,184

			$	18,472,328


Transportation — 13.7%
Bay Area Toll Authority, Toll Bridge Revenue, (San Francisco Bay Area), Prerefunded to 4/1/19, 5.25%, 4/1/29	$	1,000	$	1,079,380
Los Angeles Department of Airports, (Los Angeles International Airport), 5.00%, 5/15/35⁽¹⁾		2,120		2,343,808
Los Angeles Department of Airports, (Los Angeles International Airport), (AMT), 5.00%, 5/15/41		1,500		1,697,295
Los Angeles Department of Airports, (Los Angeles International Airport), (AMT), 5.375%, 5/15/30		1,500		1,556,340
Sacramento County, Airport System Revenue, 5.00%, 7/1/41		1,500		1,716,420


Security	Principal Amount (000’s omitted)		Value


Transportation (continued)
San Francisco City and County Airport Commission, (San Francisco International Airport), 5.00%, 5/1/35	$	2,760	$	3,021,400
San Joaquin Hills Transportation Corridor Agency, 5.00%, 1/15/34		2,265		2,519,314

			$	13,933,957


Water and Sewer — 1.9%
San Mateo, Sewer Revenue, 5.00%, 8/1/36	$	1,700	$	1,900,532

			$	1,900,532


Total Tax-Exempt Municipal Securities — 147.1% (identified cost $138,679,665)			$	150,182,392


Taxable Municipal Securities — 6.8%


Security	Principal Amount (000’s omitted)		Value

Hospital — 1.8%
California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24	$	1,750	$	1,857,222

			$	1,857,222


Insured – Special Tax Revenue — 3.9%
Successor Agency to Roseville Redevelopment Agency, (BAM), 4.066%, 9/1/40	$	4,000	$	3,923,800

			$	3,923,800


		12		See Notes to Financial Statements.

Eaton Vance

California Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Other Revenue — 1.1%
California Infrastructure and Economic Development Bank, (The Scripps Research Institute), 3.42%, 7/1/36	$	1,200	$	1,127,328

			$	1,127,328


Total Taxable Municipal Securities — 6.8% (identified cost $6,950,000)			$	6,908,350


Total Investments — 153.9% (identified cost $145,629,665)			$	157,090,742


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (2.9)%			$	(3,000,099	)


Institutional MuniFund Term Preferred Shares, at Liquidation Value (net of unamortized deferred offering costs) — (45.8)%			$	(46,745,186	)


Other Assets, Less Liabilities — (5.2)%			$	(5,272,640	)


Net Assets Applicable to Common Shares — 100.0%			$	102,072,817

The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.

The Trust invests primarily in debt securities issued by California 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 May 31, 2017, 25.5% 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 or financial guaranty assurance agency ranged from 2.0% to 11.6% of total investments.

⁽¹⁾	Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1G).

⁽²⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At May 31, 2017, the aggregate value of these securities is $666,852 or 0.7% of the Trust’s net assets applicable to common shares.


Futures Contracts
Description	Contracts		Position		Expiration Month/Year		Aggregate Cost			Value			Net Unrealized Depreciation

Interest Rate Futures
U.S. 10-Year Treasury Note		38		Short		Sep-17	$	(4,771,916	)	$	(4,799,281	)	$	(27,365	)
U.S. Long Treasury Bond		29		Short		Sep-17		(4,409,780	)		(4,460,563	)		(50,783	)

													$	(78,148	)

Abbreviations:


AGC	–	Assured Guaranty Corp.
AGM	–	Assured Guaranty Municipal Corp.
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.
BAM	–	Build America Mutual Assurance Co.
NPFG	–	National Public Finance Guaranty Corp.


		13		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited)


Tax-Exempt Municipal Securities — 146.2%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 6.0%
Massachusetts Water Pollution Abatement Trust, 5.25%, 8/1/33	$	910	$	1,185,775
Massachusetts Water Pollution Abatement Trust, 5.25%, 8/1/34		990		1,293,366

			$	2,479,141


Education — 27.6%
Massachusetts Development Finance Agency, (Berklee College of Music), 5.00%, 10/1/46	$	1,525	$	1,756,876
Massachusetts Development Finance Agency, (Dexter Southfield), 5.00%, 5/1/34		1,665		1,858,290
Massachusetts Development Finance Agency, (Milton Academy), 5.00%, 9/1/35		1,080		1,192,914
Massachusetts Development Finance Agency, (Northeastern University), 5.00%, 3/1/33		770		874,004
Massachusetts Development Finance Agency, (Wentworth Institute of Technology), 5.00%, 10/1/37		1,000		1,123,590
Massachusetts Health and Educational Facilities Authority, (Berklee College of Music), 5.00%, 10/1/32		105		106,389
Massachusetts Health and Educational Facilities Authority, (Boston College), 5.50%, 6/1/35		1,640		2,193,402
Massachusetts Health and Educational Facilities Authority, (Northeastern University), 5.00%, 10/1/35		1,350		1,485,891
University of Massachusetts Building Authority, 5.00%, 11/1/39		750		858,862

			$	11,450,218


Escrowed / Prerefunded — 24.7%
Massachusetts Bay Transportation Authority, Prerefunded to 7/1/18, 5.25%, 7/1/34	$	40	$	41,912
Massachusetts Bay Transportation Authority, Prerefunded to 7/1/18, 5.25%, 7/1/34		100		104,779
Massachusetts Bay Transportation Authority, Sales Tax Revenue, Prerefunded to 7/1/17, 0.00%, 7/1/31		1,665		856,476
Massachusetts Bay Transportation Authority, Sales Tax Revenue, Prerefunded to 7/1/17, 0.00%, 7/1/34		5,195		2,314,009
Massachusetts Development Finance Agency, (New England Conservatory of Music), Prerefunded to 7/1/18, 5.25%, 7/1/38		625		654,656
Massachusetts Development Finance Agency, (Partners HealthCare System), Prerefunded to 7/1/17, 5.00%, 7/1/32		1,055		1,058,724
Massachusetts Health and Educational Facilities Authority, (Berklee College of Music), Prerefunded to 10/1/17, 5.00%, 10/1/32		1,395		1,414,655
Massachusetts Health and Educational Facilities Authority, (Isabella Stewart Gardner Museum), Prerefunded to 5/1/19, 5.00%, 5/1/22		500		538,570


Security	Principal Amount (000’s omitted)		Value


Escrowed / Prerefunded (continued)
Massachusetts Health and Educational Facilities Authority, (Isabella Stewart Gardner Museum), Prerefunded to 5/1/19, 5.00%, 5/1/25	$	505	$	543,956
Massachusetts Health and Educational Facilities Authority, (Massachusetts Institute of Technology), Prerefunded to 7/1/17, 5.00%, 7/1/38		415		416,465
Massachusetts Health and Educational Facilities Authority, (Tufts University), Prerefunded to 8/15/18, 5.375%, 8/15/38		1,420		1,497,291
Newton, Prerefunded to 4/1/19, 5.00%, 4/1/36		750		805,777

			$	10,247,270


General Obligations — 9.8%
Boston, 4.00%, 4/1/24	$	300	$	330,990
Danvers, 5.25%, 7/1/36		885		1,008,617
Lexington, 4.00%, 2/1/23		255		293,227
Plymouth, 5.00%, 5/1/31		345		388,380
Plymouth, 5.00%, 5/1/32		315		352,954
Wayland, 5.00%, 2/1/33		510		569,038
Wayland, 5.00%, 2/1/36		770		857,680
Winchester, 5.00%, 4/15/36		245		274,723

			$	4,075,609


Hospital — 27.0%
Massachusetts Development Finance Agency, (Berkshire Health Systems), 5.00%, 10/1/31	$	1,000	$	1,095,570
Massachusetts Development Finance Agency, (CareGroup), 5.00%, 7/1/33		180		205,389
Massachusetts Development Finance Agency, (Children’s Hospital), 5.00%, 10/1/31		525		619,752
Massachusetts Development Finance Agency, (Lahey Health System Obligated Group), 5.00%, 8/15/40		1,250		1,414,075
Massachusetts Development Finance Agency, (South Shore Hospital), 5.00%, 7/1/41		1,000		1,115,830
Massachusetts Development Finance Agency, (Tufts Medical Center), 7.25%, 1/1/32		600		705,204
Massachusetts Development Finance Agency, (UMass Memorial), 5.50%, 7/1/31		555		617,415
Massachusetts Health and Educational Facilities Authority, (Baystate Medical Center, Inc.), 5.75%, 7/1/36		1,210		1,328,725
Massachusetts Health and Educational Facilities Authority, (Children’s Hospital), 5.25%, 12/1/39		500		543,810
Massachusetts Health and Educational Facilities Authority, (Dana-Farber Cancer Institute), 5.00%, 12/1/37		1,135		1,198,231
Massachusetts Health and Educational Facilities Authority, (Lowell General Hospital), 5.125%, 7/1/35		970		1,036,445


		14		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
Massachusetts Health and Educational Facilities Authority, (Partners HealthCare System), 5.00%, 7/1/32	$	945	$	948,119
Massachusetts Health and Educational Facilities Authority, (Southcoast Health System), 5.00%, 7/1/29		350		370,027

			$	11,198,592


Housing — 2.4%
Massachusetts Housing Finance Agency, 3.35%, 12/1/41	$	1,000	$	977,070

			$	977,070


Industrial Development Revenue — 1.9%
Massachusetts Development Finance Agency, (Covanta Energy), (AMT), 4.875%, 11/1/27⁽¹⁾	$	800	$	801,824

			$	801,824


Insured – Education — 7.6%
Massachusetts College Building Authority, (XLCA), 5.50%, 5/1/39	$	1,000	$	1,381,250
Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32⁽²⁾		1,365		1,759,976

			$	3,141,226


Insured – Electric Utilities — 1.4%
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29	$	550	$	600,446

			$	600,446


Insured – Escrowed / Prerefunded — 0.9%
Massachusetts Health and Educational Facilities Authority, (Cape Cod Healthcare), (AGC), Prerefunded to 11/15/19, 5.00%, 11/15/25	$	335	$	367,529

			$	367,529


Insured – General Obligations — 3.2%
Massachusetts, (AMBAC), 5.50%, 8/1/30	$	1,000	$	1,326,600

			$	1,326,600


Insured – Other Revenue — 2.0%
Massachusetts Development Finance Agency, (WGBH Educational Foundation), (AMBAC), 5.75%, 1/1/42	$	590	$	815,392

			$	815,392


Security	Principal Amount (000’s omitted)		Value


Insured – Special Tax Revenue — 9.3%
Martha’s Vineyard Land Bank, (BAM), 5.00%, 5/1/25	$	775	$	939,292
Martha’s Vineyard Land Bank, (BAM), 5.00%, 5/1/28		1,195		1,410,865
Massachusetts, Special Obligation, Dedicated Tax Revenue, (NPFG), 5.50%, 1/1/29		1,000		1,296,560
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45		1,105		223,829

			$	3,870,546


Insured – Student Loan — 0.4%
Massachusetts Educational Financing Authority, (AGC), (AMT), 6.35%, 1/1/30	$	165	$	172,783

			$	172,783


Insured – Transportation — 0.8%
Massachusetts Port Authority, (Bosfuel Project), (NPFG), (AMT), 5.00%, 7/1/32	$	315	$	315,816

			$	315,816


Senior Living / Life Care — 1.8%
Massachusetts Development Finance Agency, (Carleton-Willard Village), 5.625%, 12/1/30	$	125	$	135,396
Massachusetts Development Finance Agency, (VOA Concord Assisted Living, Inc.), 5.125%, 11/1/27⁽¹⁾		140		140,545
Massachusetts Development Finance Agency, (VOA Concord Assisted Living, Inc.), 5.20%, 11/1/41⁽¹⁾		475		475,940

			$	751,881


Special Tax Revenue — 4.2%
Massachusetts School Building Authority, Sales Tax Revenue, 5.00%, 11/15/46	$	1,500	$	1,758,855

			$	1,758,855


Student Loan — 3.4%
Massachusetts Educational Financing Authority, (AMT), 3.50%, 7/1/33	$	1,500	$	1,428,780

			$	1,428,780


Transportation — 10.5%
Massachusetts Department of Transportation, (Metropolitan Highway System), 5.00%, 1/1/37	$	1,500	$	1,623,375
Massachusetts Port Authority, 5.00%, 7/1/28		500		558,305
Massachusetts Port Authority, 5.00%, 7/1/34		670		736,565
Massachusetts Port Authority, 5.00%, 7/1/45		1,250		1,446,687

			$	4,364,932


		15		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Water and Sewer — 1.3%
Boston Water and Sewer Commission, Prerefunded to 11/1/19, 5.00%, 11/1/29	$	495	$	542,362

			$	542,362


Total Tax-Exempt Municipal Securities — 146.2% (identified cost $55,883,147)			$	60,686,872


Taxable Municipal Securities — 2.0%


Security	Principal Amount (000’s omitted)		Value

Student Loan — 2.0%
Massachusetts Educational Financing Authority, 4.70%, 1/1/30	$	750	$	820,635


Total Taxable Municipal Securities — 2.0% (identified cost $736,146)			$	820,635


Total Investments — 148.2% (identified cost $56,619,293)			$	61,507,507


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (7.8)%			$	(3,250,072	)


Institutional MuniFund Term Preferred Shares, at Liquidation Value (net of unamortized deferred offering costs) — (40.3)%			$	(16,701,614	)


Other Assets, Less Liabilities — (0.1)%			$	(57,137	)


Net Assets Applicable to Common Shares — 100.0%			$	41,498,684

The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.

The Trust invests primarily in debt securities issued by Massachusetts 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 May 31, 2017, 17.3% 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 0.9% to 6.3% of total investments.

⁽¹⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At May 31, 2017, the aggregate value of these securities is $1,418,309 or 3.4% of the Trust’s net assets applicable to common shares.

⁽²⁾	Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1G).


Futures Contracts
Description	Contracts		Position		Expiration Month/Year		Aggregate Cost			Value			Net Unrealized Depreciation

Interest Rate Futures
U.S. Long Treasury Bond		23		Short		Sep-17	$	(3,497,411	)	$	(3,537,687	)	$	(40,276	)

													$	(40,276	)


		16		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued

Abbreviations:


AGC	–	Assured Guaranty Corp.
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.
BAM	–	Build America Mutual Assurance Co.
NPFG	–	National Public Finance Guaranty Corp.
XLCA	–	XL Capital Assurance, Inc.


		17		See Notes to Financial Statements.

Eaton Vance

Michigan Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited)


Tax-Exempt Investments — 161.7%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 2.2%
Michigan Municipal Bond Authority, Prerefunded to 10/1/19, 5.00%, 10/1/29	$	600	$	655,278

			$	655,278


Education — 12.7%
Michigan State University, 5.00%, 2/15/40	$	1,000	$	1,083,420
Oakland University, 5.00%, 3/1/42		500		553,985
University of Michigan, 5.00%, 4/1/35		1,500		1,810,545
Wayne State University, 5.00%, 11/15/40		370		413,360

			$	3,861,310


Electric Utilities — 8.9%
Holland, Electric Utility System, 5.00%, 7/1/39	$	1,135	$	1,279,508
Lansing Board of Water and Light, 5.50%, 7/1/41		500		571,135
Michigan Public Power Agency, 5.00%, 1/1/43		800		850,736

			$	2,701,379


Escrowed / Prerefunded — 4.9%
Ann Arbor Public Schools, Prerefunded to 5/1/18, 4.50%, 5/1/24	$	350	$	361,770
Guam, Limited Obligation Bonds, Prerefunded to 12/1/19, 5.625%, 12/1/29		115		128,155
Guam, Limited Obligation Bonds, Prerefunded to 12/1/19, 5.75%, 12/1/34		125		139,684
Michigan, Prerefunded to 5/1/19, 5.50%, 11/1/25		270		293,296
Michigan Hospital Finance Authority, (MidMichigan Obligated Group), Prerefunded to 6/1/19, 6.125%, 6/1/39		500		551,370

			$	1,474,275


General Obligations — 45.3%
Battle Creek, 5.00%, 12/1/41	$	1,000	$	1,154,430
Byron Center Public Schools, 5.00%, 5/1/43⁽¹⁾		1,500		1,730,460
Comstock Park Public Schools, 5.125%, 5/1/31		275		305,902
Comstock Park Public Schools, 5.25%, 5/1/33		220		247,337
East Grand Rapids Public Schools, 5.00%, 5/1/39		435		490,706
Jenison Public Schools, 5.00%, 5/1/28		500		557,500
Jenison Public Schools, 5.00%, 5/1/30		500		561,455
Kent County, 5.00%, 1/1/25		1,500		1,591,320
Kent County, (AMT), 5.00%, 1/1/28		1,000		1,121,650
Lakeview School District, 5.00%, 5/1/40		1,050		1,196,454
Lansing Community College, 5.00%, 5/1/30		1,005		1,141,630
Marysville Public Schools District, 5.00%, 5/1/37		1,065		1,223,344


Security	Principal Amount (000’s omitted)		Value


General Obligations (continued)
Rockford Public Schools, 5.00%, 5/1/44	$	750	$	851,497
Walled Lake Consolidated School District, 5.00%, 5/1/34		365		416,458
Watervliet Public Schools, 5.00%, 5/1/38		1,000		1,128,730

			$	13,718,873


Hospital — 21.9%
Grand Traverse County Hospital Finance Authority, (Munson Healthcare), 5.00%, 7/1/47	$	1,000	$	1,102,590
Michigan Finance Authority, (Henry Ford Health System), 5.00%, 11/15/41		1,000		1,128,440
Michigan Finance Authority, (McLaren Health Care), 5.00%, 6/1/35		250		274,395
Michigan Finance Authority, (Oakwood Obligated Group), 5.00%, 11/1/32		500		556,515
Michigan Finance Authority, (Trinity Health Corp.), 5.00%, 12/1/27		990		1,095,960
Michigan Finance Authority, (Trinity Health Corp.), Prerefunded to 12/1/20, 5.00%, 12/1/27		10		11,355
Royal Oak Hospital Finance Authority, (William Beaumont Hospital), 5.00%, 9/1/39		1,250		1,392,787
Saginaw Hospital Finance Authority, (Covenant Medical Center, Inc.), 5.00%, 7/1/30		1,000		1,084,570

			$	6,646,612


Industrial Development Revenue — 2.5%
Detroit Local Development Finance Authority, (Chrysler Corp.), 5.375%, 5/1/21	$	750	$	746,752

			$	746,752


Insured – Education — 0.6%
Wayne State University, (AGM), 5.00%, 11/15/35	$	165	$	173,531

			$	173,531


Insured – Electric Utilities — 3.7%
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29	$	630	$	687,784
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/32		250		272,657
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34		155		168,361

			$	1,128,802


Insured – Escrowed / Prerefunded — 12.0%
Ferris State University, (AGC), Prerefunded to 10/1/18, 5.125%, 10/1/33	$	570	$	602,114
Ferris State University, (AGC), Prerefunded to 10/1/18, 5.25%, 10/1/38		500		528,995


		18		See Notes to Financial Statements.

Eaton Vance

Michigan Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Insured – Escrowed / Prerefunded (continued)
Grand Rapids, Water Supply System, (AGC), Prerefunded to 1/1/19, 5.10%, 1/1/39	$	1,000	$	1,066,040
Van Dyke Public Schools, (AGM), Prerefunded to 5/1/18, 5.00%, 5/1/38		1,250		1,297,725
Wayne State University, (AGM), Prerefunded to 11/15/18, 5.00%, 11/15/35		135		143,092

			$	3,637,966


Insured – General Obligations — 19.6%
Bay City Brownfield Redevelopment Authority, (BAM), 5.375%, 10/1/38	$	500	$	569,400
Byron Center Public Schools, (AGM), 3.75%, 5/1/26		150		156,504
Byron Center Public Schools, (AGM), 4.00%, 5/1/28		240		250,613
Detroit School District, (AGM), 5.25%, 5/1/32		300		366,084
Hartland Consolidated Schools, (AGM), 5.25%, 5/1/29		1,000		1,128,420
Livonia Public Schools, (AGM), 5.00%, 5/1/43		910		1,006,414
South Haven Public Schools, (AGM), 5.00%, 5/1/40		500		564,355
South Haven Public Schools, (BAM), 5.00%, 5/1/41		1,200		1,348,872
Westland Tax Increment Finance Authority, (BAM), 5.25%, 4/1/34		500		563,765

			$	5,954,427


Insured – Special Tax Revenue — 0.6%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	895	$	181,291

			$	181,291


Insured – Transportation — 3.5%
Wayne County Airport Authority, (AGC), (AMT), 5.375%, 12/1/32	$	1,000	$	1,050,960

			$	1,050,960


Insured – Water and Sewer — 5.0%
Coldwater, Water Supply and Wastewater System Revenue, (AGM), 4.00%, 8/1/41	$	1,000	$	1,038,880
Puerto Rico Aqueduct and Sewer Authority, (AGC), 5.00%, 7/1/28		475		486,680

			$	1,525,560


Lease Revenue / Certificates of Participation — 3.5%
Michigan Strategic Fund, (Facility for Rare Isotope Beams), 4.00%, 3/1/30	$	1,000	$	1,064,860

			$	1,064,860


Security	Principal Amount (000’s omitted)		Value


Special Tax Revenue — 3.7%
Michigan Trunk Line Fund, 5.00%, 11/15/36	$	1,000	$	1,130,060

			$	1,130,060


Water and Sewer — 11.1%
Detroit, Water Supply System, 5.25%, 7/1/41	$	750	$	819,203
Grand Rapids, Sanitary Sewer System, 5.00%, 1/1/28		735		925,975
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AMT), 5.00%, 7/1/44		1,250		1,340,200
Port Huron, Water Supply System, 5.25%, 10/1/31		250		278,195

			$	3,363,573


Total Tax-Exempt Investments — 161.7% (identified cost $45,915,352)			$	49,015,509


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (2.1)%			$	(650,114	)


Institutional MuniFund Term Preferred Shares, at Liquidation Value (net of unamortized deferred offering costs) — (55.3)%			$	(16,754,309	)


Other Assets, Less Liabilities — (4.3)%			$	(1,305,363	)


Net Assets Applicable to Common Shares — 100.0%			$	30,305,723

The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.

The Trust invests primarily in debt securities issued by Michigan 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 May 31, 2017, 27.9% 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 2.7% to 12.5% of total investments.

⁽¹⁾	When-issued security.

Abbreviations:


AGC	–	Assured Guaranty Corp.
AGM	–	Assured Guaranty Municipal Corp.
AMT	–	Interest earned from these securities may be considered a tax preference item for purposes of the Federal Alternative Minimum Tax.
BAM	–	Build America Mutual Assurance Co.
NPFG	–	National Public Finance Guaranty Corp.


		19		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited)


Tax-Exempt Municipal Securities — 156.9%


Security	Principal Amount (000’s omitted)		Value


Education — 16.5%
Camden County Improvement Authority, (Rowan University School of Osteopathic Medicine), 5.00%, 12/1/32	$	1,270	$	1,443,076
New Jersey Educational Facilities Authority, (Kean University), 5.50%, 9/1/36		1,730		1,872,465
New Jersey Educational Facilities Authority, (Montclair State University), 5.00%, 7/1/33		620		710,935
New Jersey Educational Facilities Authority, (Montclair State University), 5.00%, 7/1/34		380		434,154
New Jersey Educational Facilities Authority, (Ramapo College), 5.00%, 7/1/37		640		707,866
New Jersey Educational Facilities Authority, (Ramapo College), 5.00%, 7/1/40		1,230		1,384,697
New Jersey Educational Facilities Authority, (Stevens Institute of Technology), 5.00%, 7/1/27		1,650		1,655,825
New Jersey Educational Facilities Authority, (University of Medicine and Dentistry), Prerefunded to 6/1/19, 7.50%, 12/1/32		965		1,090,720
Rutgers State University, 5.00%, 5/1/33		1,000		1,140,820

			$	10,440,558


Escrowed / Prerefunded — 23.6%
Monmouth County Improvement Authority, Prerefunded to 1/15/21, 5.00%, 1/15/28	$	1,510	$	1,723,423
Monmouth County Improvement Authority, Prerefunded to 1/15/21, 5.00%, 1/15/30		1,455		1,660,650
New Jersey Economic Development Authority, (Duke Farms Foundation), Prerefunded to 7/1/19, 5.00%, 7/1/48		2,040		2,213,114
New Jersey Economic Development Authority, (School Facilities Construction), Prerefunded to 6/15/19, 5.25%, 12/15/33		105		114,239
New Jersey Health Care Facilities Financing Authority, (AHS Hospital Corp.), Prerefunded to 7/1/18, 5.00%, 7/1/27		2,190		2,287,061
New Jersey Health Care Facilities Financing Authority, (AtlantiCare Regional Medical Center), Prerefunded to 7/1/17, 5.00%, 7/1/37		2,090		2,097,461
New Jersey Health Care Facilities Financing Authority, (Chilton Memorial Hospital), Prerefunded to 7/1/19, 5.75%, 7/1/39		915		1,005,182
New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), Prerefunded to 10/1/18, 5.25%, 10/1/38		380		402,272
New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), Prerefunded to 7/1/23, 5.25%, 7/1/31		205		250,406
New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), Prerefunded to 1/1/20, 5.00%, 7/1/31		1,000		1,103,640


Security	Principal Amount (000’s omitted)		Value


Escrowed / Prerefunded (continued)
North Hudson Sewerage Authority, Prerefunded to 6/1/22, 5.00%, 6/1/29	$	55	$	64,885
Rutgers State University, Prerefunded to 5/1/19, 5.00%, 5/1/39		1,900		2,049,074

			$	14,971,407


General Obligations — 1.2%
Monmouth County Improvement Authority, 5.00%, 1/15/28	$	340	$	381,728
Monmouth County Improvement Authority, 5.00%, 1/15/30		340		379,331

			$	761,059


Hospital — 13.8%
Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/42	$	650	$	732,888
New Jersey Health Care Facilities Financing Authority, (AHS Hospital Corp.), 5.00%, 7/1/27		100		104,110
New Jersey Health Care Facilities Financing Authority, (Barnabas Health Obligated Group), 4.25%, 7/1/44		750		788,850
New Jersey Health Care Facilities Financing Authority, (Hackensack Meridian Health Obligated Group), 4.00%, 7/1/34		500		521,940
New Jersey Health Care Facilities Financing Authority, (Meridian Health System), 5.00%, 7/1/26		265		303,107
New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), Prerefunded to 7/1/23, 5.25%, 7/1/31		45		54,909
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/32		990		1,148,944
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/33		120		138,234
New Jersey Health Care Facilities Financing Authority, (Princeton HealthCare System), 5.00%, 7/1/39		2,305		2,606,448
New Jersey Health Care Facilities Financing Authority, (Trinitas Regional Medical Center Obligated Group), 5.00%, 7/1/30		1,000		1,143,430
New Jersey Health Care Facilities Financing Authority, (Virtua Health), 5.75%, 7/1/33		1,075		1,172,062

			$	8,714,922


Housing — 1.0%
New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 4.70%, 10/1/37	$	335	$	335,271
New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 5.00%, 10/1/37		325		327,672

			$	662,943


		20		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Industrial Development Revenue — 7.6%
Essex County Improvement Authority, (Covanta), (AMT), 5.25%, 7/1/45⁽¹⁾	$	1,085	$	1,092,302
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.125%, 9/15/23		50		54,235
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.25%, 9/15/29		135		147,388
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.50%, 6/1/33		750		832,477
New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 5.10%, 6/1/23		220		241,151
New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 5.70%, 10/1/39		2,235		2,423,567

			$	4,791,120


Insured – Education — 0.7%
New Jersey Educational Facilities Authority, (Ramapo College), (AGM), 5.00%, 7/1/31	$	350	$	416,213

			$	416,213


Insured – Electric Utilities — 2.1%
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29	$	135	$	147,382
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34		490		532,238
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/35		595		644,861

			$	1,324,481


Insured – Escrowed / Prerefunded — 5.2%
Lakewood Township, (AGC), Prerefunded to 11/1/18, 5.75%, 11/1/31	$	1,240	$	1,325,672
New Jersey Economic Development Authority, (School Facilities Construction), (AGC), Prerefunded to 12/15/18, 5.50%, 12/15/34		970		1,038,996
New Jersey Economic Development Authority, (School Facilities Construction), (AGC), Prerefunded to 12/15/18, 5.50%, 12/15/34		520		556,988
New Jersey Health Care Facilities Financing Authority, (Meridian Health System), Series II, (AGC), Prerefunded to 7/1/18, 5.00%, 7/1/38		370		386,561

			$	3,308,217


Insured – General Obligations — 6.6%
Atlantic City, (BAM), 5.00%, 3/1/37⁽²⁾	$	500	$	556,140
Hudson County Improvement Authority, (Harrison Parking), (AGC), 5.25%, 1/1/39		1,015		1,074,976
Irvington Township, (AGM), 5.00%, 7/15/31		1,000		1,141,820
Paterson, (BAM), 5.00%, 1/15/26		1,240		1,388,304

			$	4,161,240


Security	Principal Amount (000’s omitted)		Value


Insured – Hospital — 2.4%
New Jersey Health Care Facilities Financing Authority, (Virtua Health), (AGC), 5.50%, 7/1/38	$	1,380	$	1,491,007

			$	1,491,007


Insured – Industrial Development Revenue — 3.1%
New Jersey Economic Development Authority, (United Water New Jersey, Inc.), (AMBAC), (AMT), 4.875%, 11/1/25	$	1,940	$	1,989,858

			$	1,989,858


Insured – Lease Revenue / Certificates of Participation — 2.9%
New Jersey Economic Development Authority, (School Facilities Construction), (AGM), 5.00%, 6/15/33	$	575	$	639,377
New Jersey Economic Development Authority, (School Facilities Construction), (NPFG), 5.50%, 9/1/28		1,000		1,211,930

			$	1,851,307


Insured – Special Tax Revenue — 14.4%
Garden State Preservation Trust, (AGM), 0.00%, 11/1/25	$	5,250	$	4,150,388
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/26		4,300		3,167,208
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/27		2,020		1,422,989
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45		2,020		409,171

			$	9,149,756


Insured – Student Loan — 2.2%
New Jersey Higher Education Student Assistance Authority, (AGC), (AMT), 6.125%, 6/1/30	$	1,340	$	1,386,887

			$	1,386,887


Insured – Transportation — 7.9%
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.00%, 1/1/31	$	850	$	937,235
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.125%, 1/1/39		2,000		2,225,220
New Jersey Transportation Trust Fund Authority, (Transportation System), (AMBAC), 0.00%, 12/15/28		2,400		1,507,248
South Jersey Transportation Authority, (AGC), 5.50%, 11/1/33		315		341,564

			$	5,011,267


Lease Revenue / Certificates of Participation — 4.4%
New Jersey Economic Development Authority, (School Facilities Construction), 5.25%, 12/15/33	$	995	$	1,016,183
New Jersey Economic Development Authority, (School Facilities Construction), Prerefunded to 6/15/19, 5.25%, 12/15/33		400		435,196


		21		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Lease Revenue / Certificates of Participation (continued)
New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), 5.25%, 10/1/38	$	1,320	$	1,342,691

			$	2,794,070


Other Revenue — 0.4%
New Jersey Economic Development Authority, (The Seeing Eye, Inc.), 5.00%, 6/1/32	$	250	$	282,340

			$	282,340


Senior Living / Life Care — 3.5%
New Jersey Economic Development Authority, (Cranes Mill, Inc.), 5.875%, 7/1/28	$	465	$	475,081
New Jersey Economic Development Authority, (Cranes Mill, Inc.), 6.00%, 7/1/38		770		784,168
New Jersey Economic Development Authority, (United Methodist Homes of New Jersey), 4.50%, 7/1/38		700		719,474
New Jersey Economic Development Authority, (United Methodist Homes of New Jersey), 5.00%, 7/1/29		215		235,711

			$	2,214,434


Special Tax Revenue — 1.3%
New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/27	$	100	$	100,192
New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/37		175		175,245
Puerto Rico Sales Tax Financing Corp., 5.00%, 8/1/40		750		426,240
Puerto Rico Sales Tax Financing Corp., 5.75%, 8/1/37		500		128,750

			$	830,427


Student Loan — 2.2%
New Jersey Higher Education Student Assistance Authority, (AMT), 2.005%, 6/1/36⁽³⁾	$	625	$	617,312
New Jersey Higher Education Student Assistance Authority, (AMT), 4.75%, 12/1/43		740		763,473

			$	1,380,785


Transportation — 30.8%
Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/35	$	1,060	$	1,151,679
Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/40		1,080		1,172,545
New Jersey Transportation Trust Fund Authority, 5.00%, 6/15/29		750		769,567
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.50%, 6/15/31		1,100		1,164,317


Security	Principal Amount (000’s omitted)		Value


Transportation (continued)
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.875%, 12/15/38	$	250	$	264,058
New Jersey Transportation Trust Fund Authority, (Transportation System), 6.00%, 12/15/38		530		563,549
New Jersey Turnpike Authority, 5.25%, 1/1/40		3,600		3,802,248
Port Authority of New York and New Jersey, 5.00%, 10/15/41⁽⁴⁾		5,000		5,819,800
Port Authority of New York and New Jersey, (AMT), 5.00%, 10/15/34		2,000		2,318,200
Port Authority of New York and New Jersey, (AMT), 5.75%, 3/15/35⁽⁴⁾		1,995		2,061,394
South Jersey Transportation Authority, 5.00%, 11/1/39		400		439,156

			$	19,526,513


Water and Sewer — 3.1%
North Hudson Sewerage Authority, 5.00%, 6/1/29	$	1,220	$	1,355,749
Sussex County Municipal Utilities Authority, 0.00%, 12/1/36		1,250		624,563

			$	1,980,312


Total Tax-Exempt Municipal Securities — 156.9% (identified cost $93,806,613)			$	99,441,123


Taxable Municipal Securities — 3.1%


Security	Principal Amount (000’s omitted)		Value

General Obligations — 1.8%
Atlantic City, 7.50%, 3/1/40	$	1,000	$	1,156,560

			$	1,156,560


		22		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Transportation — 1.3%
New Jersey Transportation Trust Fund Authority, 5.754%, 12/15/28⁽⁵⁾	$	750	$	802,763

			$	802,763


Total Taxable Municipal Securities — 3.1% (identified cost $1,792,725)			$	1,959,323


Total Investments — 160.0% (identified cost $95,599,338)			$	101,400,446


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (7.0)%			$	(4,425,010	)


Institutional MuniFund Term Preferred Shares, at Liquidation Value (net of unamortized deferred offering costs) — (45.5)%			$	(28,848,035	)


Other Assets, Less Liabilities — (7.5)%			$	(4,738,883	)


Net Assets Applicable to Common Shares — 100.0%			$	63,388,518

The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.

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 May 31, 2017, 29.7% 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 or financial guaranty assurance agency ranged from 1.9% to 9.4% of total investments.

⁽¹⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At May 31, 2017, the aggregate value of these securities is $1,092,302 or 1.7% of the Trust’s net assets applicable to common shares.

⁽²⁾	When-issued security.

⁽³⁾	Variable rate security. The stated interest rate represents the rate in effect at May 31, 2017.

⁽⁴⁾	Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1G).

⁽⁵⁾	Build America Bond. Represents taxable municipal obligation issued pursuant to the American Recovery and Reinvestment Act of 2009 or other legislation providing for the issuance of taxable municipal debt on which the issuer receives federal support.


Futures Contracts
Description	Contracts		Position		Expiration Month/Year		Aggregate Cost			Value			Net Unrealized Depreciation

Interest Rate Futures
U.S. Long Treasury Bond		30		Short		Sep-17	$	(4,561,841	)	$	(4,614,375	)	$	(52,534	)

													$	(52,534	)

Abbreviations:


AGC	–	Assured Guaranty Corp.
AGM	–	Assured Guaranty Municipal Corp.
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.


BAM	–	Build America Mutual Assurance Co.
NPFG	–	National Public Finance Guaranty Corp.
XLCA	–	XL Capital Assurance, Inc.


		23		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited)


Tax-Exempt Municipal Securities — 156.4%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 5.7%
New York Environmental Facilities Corp., 5.00%, 10/15/39	$	1,730	$	1,896,253
New York Environmental Facilities Corp., (New York City Municipal Water Finance Authority), 5.00%, 6/15/37⁽¹⁾		2,535		2,642,205

			$	4,538,458


Cogeneration — 1.0%
Suffolk County Industrial Development Agency, (Nissequogue Cogeneration Partners Facility), (AMT), 5.50%, 1/1/23	$	805	$	805,073

			$	805,073


Education — 27.0%
New York City Cultural Resources Trust, (The Juilliard School), 5.00%, 1/1/34	$	1,490	$	1,579,013
New York City Cultural Resources Trust, (The Juilliard School), 5.00%, 1/1/39		325		344,256
New York Dormitory Authority, (Brooklyn Law School), 5.75%, 7/1/33		510		548,122
New York Dormitory Authority, (Columbia University), 5.00%, 7/1/38		1,000		1,045,600
New York Dormitory Authority, (Columbia University), 5.00%, 10/1/41		725		815,639
New York Dormitory Authority, (Cornell University), 5.00%, 7/1/34		510		551,902
New York Dormitory Authority, (Cornell University), 5.00%, 7/1/39		2,000		2,159,140
New York Dormitory Authority, (Culinary Institute of America), 5.50%, 7/1/33		220		250,763
New York Dormitory Authority, (Fordham University), 5.50%, 7/1/36		1,000		1,149,070
New York Dormitory Authority, (Rochester Institute of Technology), Prerefunded to 7/1/18, 6.00%, 7/1/33		2,250		2,375,932
New York Dormitory Authority, (Rockefeller University), 5.00%, 7/1/40		2,500		2,698,925
New York Dormitory Authority, (Skidmore College), 5.00%, 7/1/27		325		372,808
New York Dormitory Authority, (Skidmore College), 5.25%, 7/1/29		400		461,940
New York Dormitory Authority, (St. Francis College), 5.00%, 10/1/40		1,695		1,862,161
New York Dormitory Authority, (The New School), 4.00%, 7/1/43		500		515,260
New York Dormitory Authority, (The New School), Prerefunded to 7/1/20, 5.50%, 7/1/40		2,000		2,266,700
Onondaga Civic Development Corp., (Le Moyne College), 5.20%, 7/1/29		280		301,000


Security	Principal Amount (000’s omitted)		Value


Education (continued)
Onondaga Civic Development Corp., (Le Moyne College), 5.375%, 7/1/40	$	735	$	787,817
Onondaga County Cultural Resources Trust, (Syracuse University), 5.00%, 12/1/38		1,205		1,401,969

			$	21,488,017


Electric Utilities — 4.5%
Long Island Power Authority, Electric System Revenue, Prerefunded to 5/1/19, 6.00%, 5/1/33	$	1,420	$	1,556,817
Utility Debt Securitization Authority, 5.00%, 12/15/33		1,735		2,040,898

			$	3,597,715


Escrowed / Prerefunded — 13.9%
Brooklyn Arena Local Development Corp., (Barclays Center), Prerefunded to 1/15/20, 6.25%, 7/15/40	$	380	$	431,475
Metropolitan Transportation Authority, Prerefunded to 11/15/17, 5.00%, 11/15/37		135		137,576
Metropolitan Transportation Authority, Prerefunded to 11/15/17, 5.00%, 11/15/37		655		667,497
Metropolitan Transportation Authority, Dedicated Tax Revenue, Prerefunded to 11/15/19, 5.00%, 11/15/34		1,500		1,649,310
New York City, Prerefunded to 10/15/18, 6.25%, 10/15/28		955		1,025,756
New York City Cultural Resources Trust, (Museum of Modern Art), Prerefunded to 10/1/18, 5.00%, 4/1/31		625		659,869
New York Dormitory Authority, (NYU Hospitals Center), Prerefunded to 7/1/17, 5.00%, 7/1/36		750		752,647
New York Dormitory Authority, (NYU Hospitals Center), Prerefunded to 7/1/17, 5.625%, 7/1/37		1,250		1,255,062
Onondaga Civic Development Corp., (St. Joseph’s Hospital Health Center), Prerefunded to 7/1/22, 4.50%, 7/1/32		395		456,987
Onondaga Civic Development Corp., (St. Joseph’s Hospital Health Center), Prerefunded to 7/1/22, 5.00%, 7/1/42		1,000		1,183,070
Saratoga County Industrial Development Agency, (Saratoga Hospital), Prerefunded to 12/1/17, 5.25%, 12/1/32		650		664,450
Saratoga County Water Authority, Prerefunded to 9/1/18, 5.00%, 9/1/48		1,000		1,052,030
Triborough Bridge and Tunnel Authority, Prerefunded to 11/15/18, 5.25%, 11/15/34⁽¹⁾		1,025		1,090,289

			$	11,026,018


General Obligations — 5.7%
New York, 5.00%, 2/15/34⁽¹⁾	$	4,000	$	4,517,960
New York City, 6.25%, 10/15/28		45		48,296

			$	4,566,256


		24		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Hospital — 11.2%
Dutchess County Local Development Corp., (Health Quest Systems, Inc.), 5.75%, 7/1/30	$	130	$	145,519
Dutchess County Local Development Corp., (Health Quest Systems, Inc.), 5.75%, 7/1/40		960		1,069,248
Nassau County Local Economic Assistance Corp., (South Nassau Communities Hospital), 5.00%, 7/1/37		1,000		1,089,680
New York Dormitory Authority, (Mount Sinai Hospital), 5.00%, 7/1/26		1,000		1,103,480
New York Dormitory Authority, (North Shore-Long Island Jewish Obligated Group), 5.00%, 5/1/32		1,000		1,114,460
New York Dormitory Authority, (NYU Hospitals Center), 5.00%, 7/1/36		525		602,002
New York Dormitory Authority, (Orange Regional Medical Center), 5.00%, 12/1/32⁽²⁾		800		898,360
New York Dormitory Authority, (Orange Regional Medical Center), 5.00%, 12/1/35⁽²⁾		100		110,314
New York Dormitory Authority, (Orange Regional Medical Center), Prerefunded to 12/1/18, 6.125%, 12/1/29		415		447,171
New York Dormitory Authority, (Orange Regional Medical Center), Prerefunded to 12/1/18, 6.25%, 12/1/37		835		902,167
Suffolk County Economic Development Corp., (Catholic Health Services of Long Island Obligated Group), 5.00%, 7/1/28		1,065		1,173,385
Suffolk County Economic Development Corp., (Catholic Health Services of Long Island Obligated Group), Prerefunded to 7/1/21, 5.00%, 7/1/28		185		214,212

			$	8,869,998


Housing — 9.5%
New York City Housing Development Corp., MFMR, 3.75%, 11/1/40	$	500	$	512,035
New York City Housing Development Corp., MFMR, 3.95%, 11/1/36		750		788,708
New York Housing Finance Agency, 3.80%, 11/1/35		650		674,856
New York Housing Finance Agency, 5.25%, 11/1/41		1,000		1,034,900
New York Housing Finance Agency, (FHLMC), (FNMA), (GNMA), 3.20%, 11/1/46		1,500		1,433,685
New York Housing Finance Agency, (FNMA), (AMT), 5.40%, 11/15/42		2,625		2,644,346
New York Mortgage Agency, 3.90%, 10/1/36		480		498,403

			$	7,586,933


Industrial Development Revenue — 7.5%
Essex County Industrial Development Agency, (International Paper Company), (AMT), 6.625%, 9/1/32	$	1,000	$	1,047,180
New York Environmental Facilities Corp., (Casella Waste Systems, Inc.), (AMT), 3.125% to 6/1/26 (Put Date), 12/1/44⁽²⁾		500		433,345


Security	Principal Amount (000’s omitted)		Value


Industrial Development Revenue (continued)
New York Environmental Facilities Corp., (Casella Waste Systems, Inc.), (AMT), 3.75% to 12/2/19 (Put Date), 12/1/44⁽²⁾	$	1,000	$	991,640
New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35		1,000		1,263,410
New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.50%, 10/1/37		300		392,967
Niagara Area Development Corp., (Covanta Energy), (AMT), 5.25%, 11/1/42⁽²⁾		1,800		1,809,468

			$	5,938,010


Insured – Education — 5.3%
New York Dormitory Authority, (City University), (AMBAC), 5.50%, 7/1/35	$	1,250	$	1,656,688
Oneida County Industrial Development Agency, (Hamilton College), (NPFG), 0.00%, 7/1/33		5,365		2,578,526

			$	4,235,214


Insured – Electric Utilities — 1.9%
Long Island Power Authority, Electric System Revenue, (BHAC), Prerefunded to 4/1/19, 5.75%, 4/1/33	$	1,365	$	1,484,697

			$	1,484,697


Insured – General Obligations — 2.3%
Oyster Bay, (AGM), 4.00%, 8/1/28	$	1,680	$	1,805,177

			$	1,805,177


Insured – Other Revenue — 4.8%
New York City Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/31	$	2,645	$	1,670,767
New York City Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/32		3,625		2,184,860

			$	3,855,627


Insured – Special Tax Revenue — 0.6%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	2,475	$	501,336

			$	501,336


Insured – Transportation — 2.9%
New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AGM), (AMT), 4.00%, 7/1/37	$	1,000	$	1,031,740
New York Transportation Development Corp., (LaGuardia Airport Terminal B Redevelopment), (AGM), (AMT), 4.00%, 7/1/46		1,250		1,278,625

			$	2,310,365


		25		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Other Revenue — 8.1%
Brooklyn Arena Local Development Corp., (Barclays Center), 0.00%, 7/15/31	$	3,120	$	1,818,305
New York City Transitional Finance Authority, (Building Aid), 5.50%, 7/15/31		1,000		1,051,600
New York Liberty Development Corp., (3 World Trade Center), 5.00%, 11/15/44⁽²⁾		1,300		1,397,812
New York Liberty Development Corp., (7 World Trade Center), 5.00%, 3/15/44		2,000		2,185,520

			$	6,453,237


Senior Living / Life Care — 8.9%
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.00%, 11/1/24	$	80	$	92,930
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.25%, 11/1/25		205		243,491
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.25%, 11/1/26		225		267,813
Brookhaven Local Development Corp., (Jeffersons Ferry), 5.25%, 11/1/36		530		594,803
Buffalo and Erie County Industrial Land Development Corp., (Orchard Park CCRC, Inc.), 5.00%, 11/15/29		830		919,076
Buffalo and Erie County Industrial Land Development Corp., (Orchard Park CCRC, Inc.), 5.00%, 11/15/30		855		939,867
New York Dormitory Authority, (Miriam Osborn Memorial Home Association), 5.00%, 7/1/29		280		293,392
New York Dormitory Authority, (Miriam Osborn Memorial Home Association), 5.00%, 7/1/42		120		124,489
Suffolk County Economic Development Corp., (Peconic Landing at Southold, Inc.), 6.00%, 12/1/40		905		988,903
Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.00%, 7/1/34		100		101,656
Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.25%, 7/1/32		230		239,269
Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.50%, 7/1/42		230		238,018
Westchester County Local Development Corp., (Kendal on Hudson), 5.00%, 1/1/34		1,830		2,002,057

			$	7,045,764


Special Tax Revenue — 17.9%
New York City Transitional Finance Authority, Future Tax Revenue, 5.50%, 11/1/35⁽¹⁾	$	1,185	$	1,349,490
New York City Transitional Finance Authority, Future Tax Revenue, Prerefunded to 11/1/20, 5.50%, 11/1/35⁽¹⁾		915		1,052,290
New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 3/15/33		1,000		1,125,740


Security	Principal Amount (000’s omitted)		Value


Special Tax Revenue (continued)
New York Dormitory Authority, Personal Income Tax Revenue, 5.25%, 3/15/38	$	1,000	$	1,072,740
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/34		2,380		2,737,500
New York Thruway Authority, Fuel Tax Revenue, 5.00%, 4/1/30⁽¹⁾		6,000		6,886,320

			$	14,224,080


Transportation — 14.1%
Metropolitan Transportation Authority, 5.00%, 11/15/38	$	1,500	$	1,685,100
New York Thruway Authority, 5.00%, 1/1/37		695		787,498
New York Thruway Authority, 5.00%, 1/1/42		1,000		1,128,870
Port Authority of New York and New Jersey, (AMT), 5.00%, 10/15/35		1,665		1,924,540
Port Authority of New York and New Jersey, (AMT), 5.00%, 10/15/44		500		561,465
Port Authority of New York and New Jersey, (AMT), 5.75%, 3/15/35⁽¹⁾		990		1,022,947
Triborough Bridge and Tunnel Authority, 5.00%, 11/15/38		1,930		2,263,562
Triborough Bridge and Tunnel Authority, 5.25%, 11/15/34⁽¹⁾		1,715		1,822,153

			$	11,196,135


Water and Sewer — 3.6%
Dutchess County Water and Wastewater Authority, 0.00%, 10/1/34	$	585	$	346,174
New York City Municipal Water Finance Authority, (Water and Sewer System), 5.75%, 6/15/40⁽¹⁾		2,385		2,507,112

			$	2,853,286


Total Tax-Exempt Municipal Securities — 156.4% (identified cost $113,196,733)			$	124,381,396


Taxable Municipal Securities — 1.9%


Security	Principal Amount (000’s omitted)		Value

Education — 1.9%
New York Dormitory Authority, (New York University), 3.998%, 7/1/39⁽³⁾	$	1,500	$	1,525,845


Total Taxable Municipal Securities — 1.9% (identified cost $1,523,250)			$	1,525,845


		26		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Corporate Bonds & Notes — 2.3%


Security	Principal Amount (000’s omitted)		Value


Hospital — 2.3%
NYU Hospitals Center, 4.168%, 7/1/37	$	1,500	$	1,528,371
NYU Hospitals Center, 4.368%, 7/1/47		315		323,990


Total Corporate Bonds & Notes — 2.3% (identified cost $1,836,193)			$	1,852,361


Miscellaneous — 0.9%


Security	Units		Value

Real Estate — 0.9%
CMS Liquidating Trust^(2)(4)(5)		257	$	691,928


Total Miscellaneous — 0.9% (identified cost $822,400)			$	691,928


Total Investments — 161.5% (identified cost $117,378,576)			$	128,451,530


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (5.2)%			$	(4,125,901	)


Institutional MuniFund Term Preferred Shares, at Liquidation Value (net of unamortized deferred offering costs) — (37.0)%			$	(29,445,804	)


Other Assets, Less Liabilities — (19.3)%			$	(15,360,771	)


Net Assets Applicable to Common Shares — 100.0%			$	79,519,054

The percentage shown for each investment category in the Portfolio of Investments is based on net assets applicable to common shares.

The Trust 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 May 31, 2017, 11.0% 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 1.2% to 3.2% of total investments.

⁽¹⁾	Security represents the municipal bond held by a trust that issues residual interest bonds (see Note 1G).

⁽²⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At May 31, 2017, the aggregate value of these securities is $6,332,867 or 8.0% of the Trust’s net assets applicable to common shares.

⁽³⁾	When-issued security.

⁽⁴⁾	Non-income producing.

⁽⁵⁾	For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 10).


Futures Contracts
Description	Contracts		Position		Expiration Month/Year		Aggregate Cost			Value			Net Unrealized Depreciation

Interest Rate Futures
U.S. Long Treasury Bond		29		Short		Sep-17	$	(4,409,780	)	$	(4,460,563	)	$	(50,783	)

													$	(50,783	)

Abbreviations:


AGC	–	Assured Guaranty Corp.
AGM	–	Assured Guaranty Municipal Corp.
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.
BHAC	–	Berkshire Hathaway Assurance Corp.


FHLMC	–	Federal Home Loan Mortgage Corp.
FNMA	–	Federal National Mortgage Association
GNMA	–	Government National Mortgage Association
MFMR	–	Multi-Family Mortgage Revenue
NPFG	–	National Public Finance Guaranty Corp.


		27		See Notes to Financial Statements.

Eaton Vance

Ohio Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited)


Tax-Exempt Investments — 153.9%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 1.9%
Rickenbacker Port Authority, (OASBO Expanded Asset Pooled Financing Program), 5.375%, 1/1/32	$	715	$	833,604

			$	833,604


Education — 18.9%
Kent State University, 5.00%, 5/1/30	$	450	$	539,546
Miami University, 4.00%, 9/1/39		500		528,000
Miami University, 5.00%, 9/1/33		1,000		1,124,660
Ohio Higher Educational Facility Commission, (Denison University), 5.00%, 11/1/42		1,050		1,226,012
Ohio Higher Educational Facility Commission, (Kenyon College), 5.00%, 7/1/44		285		310,439
Ohio Higher Educational Facility Commission, (Kenyon College), 5.25%, 7/1/44		400		438,304
Ohio Higher Educational Facility Commission, (Oberlin College), 5.00%, 10/1/33		500		575,625
Ohio Higher Educational Facility Commission, (Oberlin College), 5.00%, 10/1/42		500		581,815
Ohio Higher Educational Facility Commission, (University of Dayton), 5.50%, 12/1/36		1,000		1,059,070
Ohio State University, 5.00%, 12/1/28		480		610,022
Ohio State University, 5.00%, 12/1/30		545		691,098
University of Cincinnati, 5.00%, 6/1/34		500		554,395

			$	8,238,986


Electric Utilities — 5.0%
American Municipal Power, Inc., (AMP Fremont Energy Center), 5.00%, 2/15/32	$	470	$	528,059
American Municipal Power, Inc., (Meldahl Hydroelectric), 4.00%, 2/15/34		765		806,386
American Municipal Power, Inc., (Meldahl Hydroelectric), 5.00%, 2/15/33		225		260,177
Ohio Air Quality Development Authority, (Buckeye Power, Inc.), 6.00%, 12/1/40		500		574,590

			$	2,169,212


Escrowed / Prerefunded — 19.6%
Barberton City School District, Prerefunded to 6/1/18, 4.50%, 12/1/33	$	900	$	932,967
Beavercreek City School District, Prerefunded to 6/1/19, 5.00%, 12/1/30		1,750		1,891,172
Central Ohio Solid Waste Authority, Prerefunded to 9/1/18, 5.125%, 9/1/27		1,025		1,079,530


Security	Principal Amount (000’s omitted)		Value


Escrowed / Prerefunded (continued)
Franklin County Convention Facilities Authority, Prerefunded to 12/1/17, 5.00%, 12/1/27	$	445	$	454,367
Guam, Limited Obligation Bonds, Prerefunded to 12/1/19, 5.625%, 12/1/29		155		172,730
Guam, Limited Obligation Bonds, Prerefunded to 12/1/19, 5.75%, 12/1/34		170		189,970
Huber Heights City School District, Prerefunded to 12/1/19, 4.75%, 12/1/25		595		650,234
Montgomery County, (Catholic Health Initiatives), Prerefunded to 5/1/19, 5.50%, 5/1/34		175		190,157
Ohio Higher Educational Facility Commission, (Kenyon College), Prerefunded to 7/1/20, 5.00%, 7/1/44		155		173,426
Ohio Higher Educational Facility Commission, (Kenyon College), Prerefunded to 7/1/20, 5.25%, 7/1/44		850		957,474
Ohio Higher Educational Facility Commission, (Summa Health System), Prerefunded to 5/15/20, 5.75%, 11/15/40		350		397,065
Ohio State University, Escrowed to Maturity, 5.00%, 12/1/28		20		25,934
Ohio Water Development Authority, Water Pollution Control Loan Fund, (Water Quality), Prerefunded to 12/1/19, 5.00%, 12/1/28		250		275,010
Symmes Township, Hamilton County, (Parkland Acquisition and Improvement), Prerefunded to 12/1/20, 5.25%, 12/1/37		1,000		1,145,450

			$	8,535,486


General Obligations — 5.0%
Apollo Career Center Joint Vocational School District, 5.25%, 12/1/33	$	335	$	382,366
Lakewood City School District, 5.00%, 11/1/39		400		459,092
Oregon City School District, 4.00%, 12/1/30		1,250		1,347,850

			$	2,189,308


Hospital — 20.1%
Akron, Bath and Copley Joint Township Hospital District, (Children’s Hospital Medical Center of Akron), 5.00%, 11/15/32	$	1,075	$	1,188,423
Akron, Bath and Copley Joint Township Hospital District, (Children’s Hospital Medical Center of Akron), 5.00%, 11/15/38		560		614,891
Butler County, (Kettering Health Network Obligated Group), 5.25%, 4/1/31		500		548,985
Franklin County, (Nationwide Children’s Hospital), Prerefunded to 11/1/19, 5.00%, 11/1/34		800		876,544
Hamilton County, (Cincinnati Children’s Hospital Medical Center), 5.00%, 5/15/34		250		288,465
Hancock County, (Blanchard Valley Regional Health Center), 6.25%, 12/1/34		750		855,202


		28		See Notes to Financial Statements.

Eaton Vance

Ohio Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
Lucas County, (ProMedica Healthcare Obligated Group), 4.00%, 11/15/45	$	315	$	324,576
Middleburg Heights, (Southwest General Health Center), 5.25%, 8/1/36		500		544,760
Middleburg Heights, (Southwest General Health Center), 5.25%, 8/1/41		800		866,384
Montgomery County, (Catholic Health Initiatives), 5.50%, 5/1/34		325		342,254
Ohio Higher Educational Facility Commission, (Cleveland Clinic Health System), 5.50%, 1/1/39		1,000		1,068,870
Ohio Higher Educational Facility Commission, (Summa Health System), 5.75%, 11/15/40		205		222,038
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), 5.00%, 1/15/27		565		645,868
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), 5.00%, 1/15/29		165		186,574
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.00%, 12/1/43		90		92,435
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.50%, 12/1/43		80		86,686

			$	8,752,955


Housing — 5.8%
Ohio Housing Finance Agency, (Uptown Community Partners), (AMT), (GNMA), 5.25%, 4/20/48	$	2,500	$	2,531,325

			$	2,531,325


Industrial Development Revenue — 1.3%
Cleveland, (Continental Airlines), (AMT), 5.375%, 9/15/27	$	555	$	556,565

			$	556,565


Insured – Education — 4.0%
Hamilton County, (University Heights Community Urban Development Corp.), (AGM), 5.00%, 6/1/30	$	750	$	820,110
Kent State University, (AGC), 5.00%, 5/1/26		85		91,096
Wright State University, (BAM), 5.00%, 5/1/31		750		828,383

			$	1,739,589


Insured – Electric Utilities — 11.9%
Cleveland, Public Power System Revenue, (NPFG), 0.00%, 11/15/27	$	710	$	524,094
Cleveland, Public Power System Revenue, (NPFG), 0.00%, 11/15/38		2,000		855,940
Ohio Municipal Electric Generation Agency, (NPFG), 0.00%, 2/15/25		815		677,510


Security	Principal Amount (000’s omitted)		Value


Insured – Electric Utilities (continued)
Ohio Municipal Electric Generation Agency, (NPFG), 0.00%, 2/15/26	$	3,000	$	2,398,440
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/26		305		330,885
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29		200		218,344
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34		155		168,361

			$	5,173,574


Insured – Escrowed / Prerefunded — 18.9%
American Municipal Power-Ohio, Inc., (Prairie State Energy Campus), (AGC), Prerefunded to 2/15/19, 5.75%, 2/15/39	$	1,000	$	1,082,160
Buckeye Valley Local School District, (AGC), Prerefunded to 12/1/18, 5.00%, 12/1/36		500		530,925
Kent State University, (AGC), Prerefunded to 5/1/19, 5.00%, 5/1/26		915		987,157
Kent State University, (AGC), Prerefunded to 5/1/19, 5.00%, 5/1/29		425		458,516
Miami University, (AMBAC), Prerefunded to 9/1/17, 3.25%, 9/1/26		580		583,445
Milford Exempt Village School District, (AGC), Prerefunded to 12/1/18, 5.25%, 12/1/36		1,750		1,864,467
St. Marys City School District, (AGM), Prerefunded to 6/1/18, 5.00%, 12/1/35		510		531,267
St. Marys City School District, (AGM), Prerefunded to 6/1/18, 5.00%, 12/1/35		150		156,240
University of Akron, Series 2008A, (AGM), Prerefunded to 1/1/18, 5.00%, 1/1/38		1,500		1,536,495
University of Akron, Series 2008B, (AGM), Prerefunded to 1/1/18, 5.00%, 1/1/38		180		184,412
University of Akron, Series 2008B, (AGM), Prerefunded to 1/1/18, 5.00%, 1/1/38		320		327,786

			$	8,242,870


Insured – General Obligations — 8.2%
Brooklyn City School District, (AGM), 5.00%, 12/1/38	$	555	$	612,198
Canal Winchester Local School District, (NPFG), 0.00%, 12/1/30		2,455		1,685,898
Cincinnati School District, (NPFG), 5.25%, 12/1/30		1,000		1,270,180

			$	3,568,276


Insured – Hospital — 4.6%
Lorain County, (Catholic Healthcare Partners), (AGM), 5.00%, 2/1/29⁽¹⁾	$	1,940	$	1,994,883

			$	1,994,883


		29		See Notes to Financial Statements.

Eaton Vance

Ohio Municipal Income Trust

May 31, 2017

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Insured – Special Tax Revenue — 0.2%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	540	$	109,382

			$	109,382


Insured – Transportation — 9.0%
Cleveland, Airport System Revenue, (AGM), 5.00%, 1/1/30	$	600	$	667,866
Ohio, (Portsmouth Gateway Group, LLC), (AGM), (AMT), 5.00%, 12/31/39		140		155,816
Ohio Turnpike Commission, (NPFG), 5.50%, 2/15/24		1,000		1,220,070
Ohio Turnpike Commission, (NPFG), 5.50%, 2/15/26		1,000		1,274,700
Puerto Rico Highway and Transportation Authority, (AMBAC), 5.25%, 7/1/38		590		627,370

			$	3,945,822


Insured – Water and Sewer — 1.5%
Puerto Rico Aqueduct and Sewer Authority, (AGC), 5.00%, 7/1/28	$	665	$	681,352

			$	681,352


Other Revenue — 3.5%
Riversouth Authority, (Lazarus Building Redevelopment), 5.75%, 12/1/27	$	1,000	$	1,014,360
Summit County Port Authority, 5.00%, 12/1/31		445		505,262

			$	1,519,622


Senior Living / Life Care — 3.9%
Franklin County, (Friendship Village of Dublin), 5.00%, 11/15/44	$	650	$	707,258
Hamilton County, (Life Enriching Communities), 5.00%, 1/1/32		375		405,863
Lorain County Port Authority, (Kendal at Oberlin), 5.00%, 11/15/30		230		256,135
Warren County, (Otterbein Homes Obligated Group), 5.75%, 7/1/33		275		318,912

			$	1,688,168


Special Tax Revenue — 7.4%
Cleveland, Income Tax Revenue, (Bridges and Roadways Improvements), 5.00%, 10/1/32	$	250	$	285,578
Cleveland, Income Tax Revenue, (Parks and Recreation Facilities Improvements), 5.00%, 10/1/35		500		571,155


Security	Principal Amount (000’s omitted)		Value


Special Tax Revenue (continued)
Green, Income Tax Revenue, (Community Learning Centers), 5.00%, 12/1/26	$	180	$	214,450
Green, Income Tax Revenue, (Community Learning Centers), 5.00%, 12/1/28		290		345,065
Hamilton County, Sales Tax Revenue, 5.00%, 12/1/29		1,500		1,820,415