Edgar Filing: EATON VANCE MASSACHUSETTS MUNICIPAL INCOME TRUST

Eaton Vance Massachusetts 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: 811-09147

Eaton Vance Massachusetts 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, 2015

Date of Reporting Period

Item 1. Reports to Stockholders

LOGO

Eaton Vance

Municipal Income Trusts

Semiannual Report

May 31, 2015

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, 2015

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			65

Board of Trustees’ Contract Approval			66

Officers and Trustees			70

Important Notices			71

Eaton Vance

California Municipal Income Trust

May 31, 2015

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		1.48	%		7.50	%		8.16	%		5.02	%
Fund at Market Price		—		6.44			10.33			7.02			5.16
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–5.61	%


Distributions⁴
Total Distributions per share for the period												$	0.368
Distribution Rate at NAV													5.29	%
Taxable-Equivalent Distribution Rate at NAV													10.78	%
Distribution Rate at Market Price													5.61	%
Taxable-Equivalent Distribution Rate at Market Price													11.43	%


% Total Leverage⁵
Auction Preferred Shares (APS)													30.26	%
Residual Interest Bond (RIB) Financing													8.66

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 includes 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 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, 2015

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		1.52	%		5.55	%		6.87	%		5.28	%
Fund at Market Price		—		4.07			5.12			4.05			3.97
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–9.87	%


Distributions⁴
Total Distributions per share for the period												$	0.343
Distribution Rate at NAV													4.58	%
Taxable-Equivalent Distribution Rate at NAV													8.53	%
Distribution Rate at Market Price													5.08	%
Taxable-Equivalent Distribution Rate at Market Price													9.46	%


% Total Leverage⁵
APS													31.11	%
RIB Financing													5.25

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, 2015

Performance^1,2

Portfolio Manager Thomas M. Metzold, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		2.16	%		7.86	%		7.98	%		5.62	%
Fund at Market Price		—		4.14			6.67			6.47			3.71
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–12.61	%


Distributions⁴
Total Distributions per share for the period												$	0.355
Distribution Rate at NAV													4.87	%
Taxable-Equivalent Distribution Rate at NAV													8.99	%
Distribution Rate at Market Price													5.58	%
Taxable-Equivalent Distribution Rate at Market Price													10.30	%


% Total Leverage⁵
APS													37.16	%

Fund Profile

Credit Quality (% of total investments)⁶

LOGO

See Endnotes and Additional Disclosures in this report.


		4

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2015

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		0.96	%		4.47	%		6.05	%		5.01	%
Fund at Market Price		—		1.77			1.48			2.77			4.08
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–11.82	%


Distributions⁴
Total Distributions per share for the period												$	0.364
Distribution Rate at NAV													5.28	%
Taxable-Equivalent Distribution Rate at NAV													10.25	%
Distribution Rate at Market Price													5.99	%
Taxable-Equivalent Distribution Rate at Market Price													11.63	%


% Total Leverage⁵
APS													33.11	%
RIB Financing													3.45

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, 2015

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		2.03	%		6.84	%		7.88	%		5.28	%
Fund at Market Price		—		1.37			1.37			5.97			4.62
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–6.51	%


Distributions⁴
Total Distributions per share for the period												$	0.410
Distribution Rate at NAV													5.67	%
Taxable-Equivalent Distribution Rate at NAV													10.99	%
Distribution Rate at Market Price													6.07	%
Taxable-Equivalent Distribution Rate at Market Price													11.76	%


% Total Leverage⁵
APS													25.80	%
RIB Financing													13.69

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, 2015

Performance^1,2

Portfolio Manager Thomas M. Metzold, CFA


% Average Annual Total Returns	Inception Date		Six Months			One Year			Five Years			Ten Years
Fund at NAV		01/29/1999		2.00	%		7.18	%		7.85	%		5.61	%
Fund at Market Price		—		1.01			2.04			5.60			4.58
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–10.96	%


Distributions⁴
Total Distributions per share for the period												$	0.366
Distribution Rate at NAV													4.86	%
Taxable-Equivalent Distribution Rate at NAV													9.07	%
Distribution Rate at Market Price													5.46	%
Taxable-Equivalent Distribution Rate at Market Price													10.19	%


% Total Leverage⁵
APS													33.83	%
RIB Financing													2.17

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, 2015

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		2.32	%		6.74	%		6.32	%		5.21	%
Fund at Market Price		—		3.75			1.72			3.85			3.54
Barclays Long (22+) Year Municipal Bond Index		—		1.32	%		5.31	%		6.07	%		4.96	%


% Premium/Discount to NAV³
													–12.16	%


Distributions⁴
Total Distributions per share for the period												$	0.363
Distribution Rate at NAV													5.26	%
Taxable-Equivalent Distribution Rate at NAV													9.59	%
Distribution Rate at Market Price													5.99	%
Taxable-Equivalent Distribution Rate at Market Price													10.92	%


% Total Leverage⁵
APS													36.15	%
RIB Financing													1.28

Fund Profile

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

LOGO

See Endnotes and Additional Disclosures in this report.


		8

Eaton Vance

Municipal Income Trusts

May 31, 2015

Endnotes and Additional Disclosures

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.

²	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.

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. 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.

⁵

Fund employs RIB financing and/or APS leverage. The leverage created by RIB investments and APS 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 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 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. Floating Rate Notes in both calculations reflect the effect of RIBs purchased in secondary market transactions, if applicable.

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.

Important Notice to Shareholders

Effective July 31, 2015, the Michigan Municipal Income Trust and the Ohio Municipal Income Trust are managed by Cynthia J. Clemson.


		9

Eaton Vance

California Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited)


Tax-Exempt Municipal Securities — 156.3%


Security	Principal Amount (000’s omitted)		Value


Education — 15.6%
California Educational Facilities Authority, (Claremont McKenna College), 5.00%, 1/1/39	$	3,135	$	3,451,071
California Educational Facilities Authority, (Harvey Mudd College), 5.25%, 12/1/31		195		221,494
California Educational Facilities Authority, (Harvey Mudd College), 5.25%, 12/1/36		330		371,095
California Educational Facilities Authority, (Loyola Marymount University), 5.00%, 10/1/30		745		836,799
California Educational Facilities Authority, (Santa Clara University), 5.00%, 9/1/23		1,600		1,906,240
California Educational Facilities Authority, (University of San Francisco), 6.125%, 10/1/36		235		286,143
California Educational Facilities Authority, (University of Southern California), 5.25%, 10/1/39		2,490		2,777,620
California Educational Facilities Authority, (University of the Pacific), 5.00%, 11/1/30		630		707,786
California Municipal Finance Authority, (University of San Diego), 5.00%, 10/1/31		415		470,278
California Municipal Finance Authority, (University of San Diego), 5.00%, 10/1/35		285		318,804
California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/26		810		955,533
California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/27		850		996,132
California Municipal Finance Authority, (University of San Diego), 5.25%, 10/1/28		895		1,043,704
University of California, 5.25%, 5/15/39		1,045		1,181,132
University of California, Prerefunded to 5/15/19, 5.25%, 5/15/39		205		237,519

			$	15,761,350


Electric Utilities — 14.3%
Chula Vista, (San Diego Gas and Electric), 5.875%, 2/15/34	$	270	$	315,538
Chula Vista, (San Diego Gas and Electric), (AMT), 5.00%, 12/1/27		2,275		2,373,735
Colton Public Financing Authority, Electric System Revenue, 5.00%, 4/1/27		1,500		1,699,560
Los Angeles Department of Water and Power, Electric System Revenue, 5.25%, 7/1/32		2,170		2,420,657
Northern California Power Agency, 5.25%, 8/1/24		1,500		1,688,355
Sacramento Municipal Utility District, 5.00%, 8/15/27		1,335		1,571,682
Sacramento Municipal Utility District, 5.00%, 8/15/28		1,795		2,113,236
Southern California Public Power Authority, (Tieton Hydropower), 5.00%, 7/1/35		680		771,535
Vernon, Electric System Revenue, 5.125%, 8/1/21		1,300		1,439,087

			$	14,393,385


Security	Principal Amount (000’s omitted)		Value


Escrowed / Prerefunded — 3.5%
California Department of Water Resources, Prerefunded to 6/1/18, 5.00%, 12/1/29	$	715	$	798,376
California Health Facilities Financing Authority, (Catholic Healthcare West), Prerefunded to 7/1/15, 5.625%, 7/1/32		1,000		1,004,720
California Health Facilities Financing Authority, (Providence Health System), Prerefunded to 10/1/18, 6.50%, 10/1/38		1,475		1,739,630

			$	3,542,726


General Obligations — 28.2%
California, 5.00%, 10/1/31	$	1,885	$	2,181,680
California, 5.50%, 11/1/35		1,600		1,909,984
California, 6.00%, 4/1/38		750		881,258
California, (AMT), 5.05%, 12/1/36		140		140,008
Escondido, 5.00%, 9/1/36⁽¹⁾		1,000		1,135,650
Palo Alto, (Election of 2008), 5.00%, 8/1/40		3,655		4,098,096
San Bernardino Community College District, 4.00%, 8/1/30		2,890		3,014,819
San Dieguito Union High School District, (Election of 2012), 4.00%, 8/1/30		1,545		1,634,347
San Jose-Evergreen Community College District, (Election of 2010), 5.00%, 8/1/35		860		977,347
San Mateo Union High School District, (Election of 2006), 5.00%, 9/1/27		1,315		1,558,801
San Mateo Union High School District, (Election of 2006), 5.00%, 9/1/28		2,230		2,634,321
Santa Clara County, (Election of 2008), 5.00%, 8/1/39⁽²⁾⁽³⁾		3,180		3,585,704
Tamalpais Union High School District, 5.00%, 8/1/27		930		1,118,223
Tamalpais Union High School District, 5.00%, 8/1/28		1,000		1,191,550
Torrance Unified School District, (Election of 2008), 5.00%, 8/1/35		2,150		2,436,187

			$	28,497,975


Hospital — 14.3%
California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/27	$	1,000	$	1,122,870
California Health Facilities Financing Authority, (Catholic Healthcare West), 5.25%, 3/1/28		190		211,833
California Health Facilities Financing Authority, (City of Hope), 5.00%, 11/15/32		635		704,761
California Health Facilities Financing Authority, (City of Hope), 5.00%, 11/15/35		910		1,004,913
California Health Facilities Financing Authority, (Memorial Health Services), 5.00%, 10/1/27		2,000		2,274,360
California Health Facilities Financing Authority, (Memorial Health Services), 5.00%, 10/1/33		1,000		1,101,060
California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/33		1,145		1,286,487


		10		See Notes to Financial Statements.

Eaton Vance

California Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
California Health Facilities Financing Authority, (St. Joseph Health System), 5.00%, 7/1/37	$	535	$	595,878
California Statewide Communities Development Authority, (John Muir Health), 5.00%, 8/15/34		600		627,840
Torrance, (Torrance Memorial Medical Center), 5.50%, 6/1/31		1,900		1,905,320
Washington Township Health Care District, 5.00%, 7/1/32		2,780		2,866,903
Washington Township Health Care District, 5.25%, 7/1/29		700		701,855

			$	14,404,080


Industrial Development Revenue — 1.3%
California Pollution Control Financing Authority, (Waste Management, Inc.), (AMT), 5.125%, 11/1/23⁽⁴⁾	$	1,235	$	1,270,976

			$	1,270,976


Insured – Education — 1.5%
California Educational Facilities Authority, (Santa Clara University), (NPFG), 5.00%, 9/1/23	$	1,250	$	1,489,250

			$	1,489,250


Insured – Electric Utilities — 3.0%
Glendale, Electric System Revenue, (AGC), 5.00%, 2/1/31	$	2,790	$	3,033,846

			$	3,033,846


Insured – Escrowed / Prerefunded — 6.0%
East Bay Municipal Utility District, Water System Revenue, (NPFG), Prerefunded to 6/1/17, 5.00%, 6/1/32⁽²⁾	$	2,000	$	2,172,360
Foothill/Eastern Transportation Corridor Agency, (AGC), (AGM), Escrowed to Maturity, 0.00%, 1/1/26		5,130		3,888,078

			$	6,060,438


Insured – General Obligations — 9.5%
Coast Community College District, (Election of 2002), (AGM), 0.00%, 8/1/34	$	6,485	$	2,360,800
Coast Community College District, (Election of 2002), (AGM), 0.00%, 8/1/35		4,825		1,660,041
Riverside Community College District, (Election of 2004), (AGM), (NPFG), 5.00%, 8/1/32		2,005		2,165,159
Sweetwater Union High School District, (Election of 2000), (AGM), 0.00%, 8/1/25		4,720		3,358,894

			$	9,544,894


Insured – Hospital — 8.9%
California Health Facilities Financing Authority, (Kaiser Permanente), (BHAC), 5.00%, 4/1/37	$	2,900	$	2,998,136


Security	Principal Amount (000’s omitted)		Value


Insured – Hospital (continued)
California Statewide Communities Development Authority, (Kaiser Permanente), (BHAC), 5.00%, 3/1/41⁽²⁾	$	750	$	772,643
California Statewide Communities Development Authority, (Sutter Health), (AMBAC), (BHAC), 5.00%, 11/15/38⁽²⁾		5,000		5,265,250

			$	9,036,029


Insured – Lease Revenue / Certificates of Participation — 8.1%
Anaheim Public Financing Authority, (Public Improvements), (AGM), 0.00%, 9/1/17	$	4,410	$	4,304,292
San Diego County Water Authority, Certificates of Participation, (AGM), 5.00%, 5/1/38⁽²⁾		3,500		3,840,165

			$	8,144,457


Insured – Special Tax Revenue — 2.1%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	4,850	$	684,723
Successor Agency to Dinuba Redevelopment Agency, (BAM), 5.00%, 9/1/28		370		422,755
Successor Agency to Dinuba Redevelopment Agency, (BAM), 5.00%, 9/1/33		930		1,039,433

			$	2,146,911


Insured – Transportation — 8.4%
Alameda Corridor Transportation Authority, (AMBAC), 0.00%, 10/1/29	$	5,000	$	2,613,850
Alameda Corridor Transportation Authority, (NPFG), 0.00%, 10/1/31⁽⁵⁾		4,500		2,272,635
Puerto Rico Highway and Transportation Authority, (AGC), (CIFG), 5.25%, 7/1/41		740		750,841
San Jose Airport, (AGM), (AMBAC), (BHAC), (AMT), 5.00%, 3/1/37		1,275		1,351,334
San Jose Airport, (AGM), (AMBAC), (BHAC), (AMT), 6.00%, 3/1/47		1,350		1,457,298

			$	8,445,958


Lease Revenue / Certificates of Participation — 1.0%
California Public Works Board, 5.00%, 11/1/38	$	915	$	1,022,128

			$	1,022,128


Other Revenue — 0.4%
California Infrastructure and Economic Development Bank, (Performing Arts Center of Los Angeles), 5.00%, 12/1/32	$	385	$	413,771

			$	413,771


Senior Living / Life Care — 2.5%
ABAG Finance Authority for Nonprofit Corporations, (Episcopal Senior Communities), 6.00%, 7/1/31	$	290	$	327,149


		11		See Notes to Financial Statements.

Eaton Vance

California Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Senior Living / Life Care (continued)
California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 4.75%, 11/15/26⁽⁴⁾	$	175	$	177,936
California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 4.875%, 11/15/36⁽⁴⁾		700		701,057
California Statewide Communities Development Authority, (Southern California Presbyterian Homes), 7.25%, 11/15/41⁽⁴⁾		600		702,306
California Statewide Communities Development Authority, (The Redwoods, a Community of Seniors), 5.125%, 11/15/35		535		594,460

			$	2,502,908


Special Tax Revenue — 13.1%
Aliso Viejo Community Facilities District No. 2005-01, Special Tax Revenue, (Glenwood at Aliso Viejo), 5.00%, 9/1/30	$	770	$	853,314
Brentwood Infrastructure Financing Authority, 5.00%, 9/2/26		285		293,809
Brentwood Infrastructure Financing Authority, 5.00%, 9/2/34		460		472,770
Fontana Redevelopment Agency, (Jurupa Hills), 5.60%, 10/1/27		1,590		1,605,280
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/22		240		277,999
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/23		480		550,766
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/24		240		272,796
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/25		335		378,376
Los Angeles County Community Facilities District No. 3, (Valencia/Newhall Area), 5.00%, 9/1/26		240		269,167
San Francisco Bay Area Rapid Transit District, Sales Tax Revenue, 5.00%, 7/1/28		2,400		2,759,880
Santaluz Community Facilities District No. 2, 6.10%, 9/1/21		250		253,710
Santaluz Community Facilities District No. 2, 6.20%, 9/1/30		490		497,394
South Orange County Public Financing Authority, Special Tax Revenue, (Ladera Ranch), 5.00%, 8/15/27		485		553,710
South Orange County Public Financing Authority, Special Tax Revenue, (Ladera Ranch), 5.00%, 8/15/28		725		824,289
Successor Agency to La Quinta Redevelopment Agency, 5.00%, 9/1/28		1,600		1,869,072
Tustin Community Facilities District, 6.00%, 9/1/37		500		521,765
Whittier Public Financing Authority, (Greenleaf Avenue Redevelopment), 5.50%, 11/1/23		1,000		1,001,510

			$	13,255,607


Security	Principal Amount (000’s omitted)		Value


Transportation — 12.7%
Bay Area Toll Authority, Toll Bridge Revenue, (San Francisco Bay Area), Prerefunded to 4/1/16, 5.00%, 4/1/31	$	2,000	$	2,077,820
Bay Area Toll Authority, Toll Bridge Revenue, (San Francisco Bay Area), Prerefunded to 4/1/19, 5.25%, 4/1/29		1,000		1,154,750
Los Angeles Department of Airports, (Los Angeles International Airport), 5.00%, 5/15/35⁽²⁾⁽³⁾		2,120		2,405,606
Los Angeles Department of Airports, (Los Angeles International Airport), (AMT), 5.375%, 5/15/30		1,500		1,652,340
San Francisco City and County Airport Commission, (San Francisco International Airport), 5.00%, 5/1/35		2,760		3,019,385
San Joaquin Hills Transportation Corridor Agency, 5.00%, 1/15/34		2,265		2,469,937

			$	12,779,838


Water and Sewer — 1.9%
California Department of Water Resources, 5.00%, 12/1/29	$	25	$	27,944
San Mateo, Sewer Revenue, 5.00%, 8/1/36		1,700		1,886,167

			$	1,914,111


Total Tax-Exempt Municipal Securities — 156.3% (identified cost $145,206,158)			$	157,660,638


Taxable Municipal Securities — 1.9%


Security	Principal Amount (000’s omitted)		Value

Hospital — 1.9%
California Statewide Communities Development Authority, (Loma Linda University Medical Center), 6.00%, 12/1/24	$	1,750	$	1,861,370


Total Taxable Municipal Securities — 1.9% (identified cost $1,750,000)			$	1,861,370


		12		See Notes to Financial Statements.

Eaton Vance

California Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Corporate Bonds & Notes — 0.7%


Security	Principal Amount (000’s omitted)		Value


Hospital — 0.7%
Dignity Health, 3.812%, 11/1/24	$	720	$	750,926


Total Corporate Bonds & Notes — 0.7% (identified cost $720,000)			$	750,926


Total Investments — 158.9% (identified cost $147,676,158)			$	160,272,934


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (49.6)%			$	(49,977,250	)


Other Assets, Less Liabilities — (9.3)%			$	(9,429,917	)


Net Assets Applicable to Common Shares — 100.0%			$	100,865,767

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.
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.
BHAC	–	Berkshire Hathaway Assurance Corp.
CIFG	–	CIFG Assurance North America, Inc.
NPFG	–	National Public Finance Guaranty Corp.

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, 2015, 29.9% 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 0.5% to 15.2% of total investments.

⁽¹⁾	When-issued security.

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

⁽³⁾	Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $2,016,311.

⁽⁴⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to qualified institutional buyers) and remain exempt from registration. At May 31, 2015, the aggregate value of these securities is $2,852,275 or 2.8% of the Trust’s net assets applicable to common shares.

⁽⁵⁾	Security (or a portion thereof) has been segregated to cover payable for when-issued securities.


		13		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited)


Tax-Exempt Investments — 152.4%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 5.9%
Massachusetts Water Pollution Abatement Trust, 5.25%, 8/1/33	$	910	$	1,155,354
Massachusetts Water Pollution Abatement Trust, 5.25%, 8/1/34		990		1,262,616

			$	2,417,970


Education — 23.9%
Massachusetts Development Finance Agency, (Milton Academy), 5.00%, 9/1/35	$	1,080	$	1,225,811
Massachusetts Development Finance Agency, (Northeastern University), 5.00%, 3/1/33		770		865,064
Massachusetts Health and Educational Facilities Authority, (Berklee College of Music), 5.00%, 10/1/32		1,500		1,624,155
Massachusetts Health and Educational Facilities Authority, (Boston College), 5.50%, 6/1/35		1,640		2,111,795
Massachusetts Health and Educational Facilities Authority, (Harvard University), 5.00%, 10/1/38⁽¹⁾		1,500		1,639,800
Massachusetts Health and Educational Facilities Authority, (Northeastern University), 5.00%, 10/1/35		1,350		1,515,861
University of Massachusetts Building Authority, 5.00%, 11/1/39		750		838,020

			$	9,820,506


Escrowed / Prerefunded — 9.5%
Massachusetts Development Finance Agency, (New England Conservatory of Music), Prerefunded to 7/1/18, 5.25%, 7/1/38	$	625	$	702,231
Massachusetts Development Finance Agency, (Partners HealthCare System), Prerefunded to 7/1/17, 5.00%, 7/1/32		1,055		1,148,093
Massachusetts Health and Educational Facilities Authority, (Massachusetts Institute of Technology), Prerefunded to 7/1/17, 5.00%, 7/1/38		415		451,711
Massachusetts Health and Educational Facilities Authority, (Tufts University), Prerefunded to 8/15/18, 5.375%, 8/15/38		1,420		1,610,408

			$	3,912,443


General Obligations — 15.2%
Boston, 4.00%, 4/1/24	$	300	$	331,641
Cambridge, 4.00%, 2/15/21		595		673,683
Danvers, 5.25%, 7/1/36		885		1,028,812
Lexington, 4.00%, 2/1/22		430		490,080
Lexington, 4.00%, 2/1/23		355		407,451
Newton, 5.00%, 4/1/36		750		847,935
Plymouth, 5.00%, 5/1/31		345		391,182
Plymouth, 5.00%, 5/1/32		315		356,057
Wayland, 5.00%, 2/1/33		510		580,319
Wayland, 5.00%, 2/1/36		770		866,804


Security	Principal Amount (000’s omitted)		Value


General Obligations (continued)
Winchester, 5.00%, 4/15/36	$	245	$	276,012

			$	6,249,976


Hospital — 24.5%
Massachusetts Development Finance Agency, (Berkshire Health Systems), 5.00%, 10/1/31	$	1,000	$	1,089,020
Massachusetts Development Finance Agency, (Children’s Hospital), 5.00%, 10/1/31		525		598,925
Massachusetts Development Finance Agency, (Tufts Medical Center), 7.25%, 1/1/32		600		717,162
Massachusetts Development Finance Agency, (UMass Memorial), 5.50%, 7/1/31		555		611,061
Massachusetts Health and Educational Facilities Authority, (Baystate Medical Center, Inc.), 5.75%, 7/1/36		1,210		1,367,953
Massachusetts Health and Educational Facilities Authority, (Children’s Hospital), 5.25%, 12/1/39		500		565,205
Massachusetts Health and Educational Facilities Authority, (Dana-Farber Cancer Institute), 5.00%, 12/1/37		1,135		1,232,054
Massachusetts Health and Educational Facilities Authority, (Jordan Hospital), 6.75%, 10/1/33		755		757,899
Massachusetts Health and Educational Facilities Authority, (Lowell General Hospital), 5.125%, 7/1/35		970		1,036,561
Massachusetts Health and Educational Facilities Authority, (Partners HealthCare System), 5.00%, 7/1/32		945		1,015,601
Massachusetts Health and Educational Facilities Authority, (South Shore Hospital), 5.75%, 7/1/29		675		677,842
Massachusetts Health and Educational Facilities Authority, (Southcoast Health System), 5.00%, 7/1/29		350		380,958

			$	10,050,241


Housing — 5.1%
Massachusetts Housing Finance Agency, (AMT), 4.75%, 12/1/48	$	2,100	$	2,104,389

			$	2,104,389


Industrial Development Revenue — 2.0%
Massachusetts Development Finance Agency, (Covanta Energy), (AMT), 4.875%, 11/1/27⁽²⁾	$	800	$	821,096

			$	821,096


Insured – Education — 7.2%
Massachusetts College Building Authority, (XLCA), 5.50%, 5/1/39	$	1,000	$	1,263,890
Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32⁽¹⁾⁽³⁾		1,365		1,702,715

			$	2,966,605


		14		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Insured – Electric Utilities — 1.3%
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29	$	550	$	546,458

			$	546,458


Insured – General Obligations — 3.1%
Massachusetts, (AMBAC), 5.50%, 8/1/30	$	1,000	$	1,274,690

			$	1,274,690


Insured – Hospital — 0.9%
Massachusetts Health and Educational Facilities Authority, (Cape Cod Healthcare), (AGC), 5.00%, 11/15/25	$	335	$	374,513

			$	374,513


Insured – Other Revenue — 1.8%
Massachusetts Development Finance Agency, (WGBH Educational Foundation), (AMBAC), 5.75%, 1/1/42	$	590	$	728,733

			$	728,733


Insured – Special Tax Revenue — 13.0%
Martha’s Vineyard Land Bank, (BAM), 5.00%, 5/1/25	$	900	$	1,078,929
Martha’s Vineyard Land Bank, (BAM), 5.00%, 5/1/28		1,195		1,382,794
Massachusetts, Dedicated Tax Revenue, (NPFG), 5.50%, 1/1/29		1,000		1,250,560
Massachusetts School Building Authority, Dedicated Sales Tax Revenue, (AMBAC), 5.00%, 8/15/37⁽¹⁾		1,340		1,442,979
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45		1,105		156,004

			$	5,311,266


Insured – Student Loan — 2.4%
Massachusetts Educational Financing Authority, (AGC), (AMT), 6.35%, 1/1/30	$	260	$	274,250
Massachusetts Educational Financing Authority, (AMBAC), (AMT), 4.70%, 1/1/33		690		699,108

			$	973,358


Insured – Transportation — 0.8%
Massachusetts Port Authority, (Bosfuel Project), (NPFG), (AMT), 5.00%, 7/1/32	$	315	$	332,215

			$	332,215


Other Revenue — 2.8%
Massachusetts Health and Educational Facilities Authority, (Isabella Stewart Gardner Museum), 5.00%, 5/1/22	$	500	$	564,645
Massachusetts Health and Educational Facilities Authority, (Isabella Stewart Gardner Museum), 5.00%, 5/1/25		505		568,312

			$	1,132,957


Security	Principal Amount (000’s omitted)		Value

Senior Living / Life Care — 6.1%
Massachusetts Development Finance Agency, (Berkshire Retirement Community, Inc.), 5.15%, 7/1/31	$	250	$	250,595
Massachusetts Development Finance Agency, (Berkshire Retirement Community, Inc.), 5.625%, 7/1/29		1,500		1,504,410
Massachusetts Development Finance Agency, (Carleton-Willard Village), 5.625%, 12/1/30		125		140,356
Massachusetts Development Finance Agency, (VOA Concord Assisted Living, Inc.), 5.125%, 11/1/27⁽²⁾		140		140,753
Massachusetts Development Finance Agency, (VOA Concord Assisted Living, Inc.), 5.20%, 11/1/41⁽²⁾		475		467,073

			$	2,503,187


Special Tax Revenue — 8.6%
Massachusetts Bay Transportation Authority, 5.25%, 7/1/34	$	140	$	156,080
Massachusetts Bay Transportation Authority, Sales Tax Revenue, 0.00%, 7/1/31		1,665		808,274
Massachusetts Bay Transportation Authority, Sales Tax Revenue, 0.00%, 7/1/34		5,195		2,173,017
Virgin Islands Public Finance Authority, 6.75%, 10/1/37		335		380,403

			$	3,517,774


Transportation — 7.3%
Massachusetts Department of Transportation, (Metropolitan Highway System), 5.00%, 1/1/37	$	1,500	$	1,647,990
Massachusetts Port Authority, 5.00%, 7/1/28		500		573,930
Massachusetts Port Authority, 5.00%, 7/1/34		670		757,777

			$	2,979,697


Water and Sewer — 11.0%
Boston Water and Sewer Commission, 5.00%, 11/1/26	$	2,005	$	2,308,457
Boston Water and Sewer Commission, 5.00%, 11/1/29		495		564,443
Boston Water and Sewer Commission, 5.00%, 11/1/31		225		255,742
Massachusetts Water Resources Authority, 5.00%, 8/1/28		1,195		1,372,589

			$	4,501,231


Total Tax-Exempt Investments — 152.4% (identified cost $57,274,980)			$	62,519,305


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (48.9)%			$	(20,050,701	)


Other Assets, Less Liabilities — (3.5)%			$	(1,445,918	)


Net Assets Applicable to Common Shares — 100.0%			$	41,022,686

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


		15		See Notes to Financial Statements.

Eaton Vance

Massachusetts Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


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.

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, 2015, 20.0% 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 1.0% to 9.4% of total investments.

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

⁽²⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to qualified institutional buyers) and remain exempt from registration. At May 31, 2015, the aggregate value of these securities is $1,428,922 or 3.5% of the Trust’s net assets applicable to common shares.

⁽³⁾	Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $792,715.


		16		See Notes to Financial Statements.

Eaton Vance

Michigan Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited)


Tax-Exempt Investments — 156.8%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 2.3%
Michigan Municipal Bond Authority, 5.00%, 10/1/29	$	600	$	677,232

			$	677,232


Education — 7.0%
Michigan State University, 5.00%, 2/15/40	$	1,000	$	1,108,400
Oakland University, 5.00%, 3/1/42		500		543,495
Wayne State University, 5.00%, 11/15/40		370		410,622

			$	2,062,517


Electric Utilities — 9.1%
Holland, Electric Utility System, 5.00%, 7/1/39	$	1,135	$	1,258,374
Lansing Board of Water and Light, 5.50%, 7/1/41		500		583,700
Michigan Public Power Agency, 5.00%, 1/1/43		800		847,808

			$	2,689,882


Escrowed / Prerefunded — 5.8%
Grand Valley State University, Prerefunded to 12/1/16, 5.625%, 12/1/29	$	525	$	565,415
Grand Valley State University, Prerefunded to 12/1/16, 5.75%, 12/1/34		525		566,396
Michigan Hospital Finance Authority, (MidMichigan Obligated Group), Prerefunded to 6/1/19, 6.125%, 6/1/39		500		594,185

			$	1,725,996


General Obligations — 29.4%
Ann Arbor Public Schools, 4.50%, 5/1/24	$	350	$	376,411
Comstock Park Public Schools, 5.125%, 5/1/31		275		304,598
Comstock Park Public Schools, 5.25%, 5/1/33		220		243,151
East Grand Rapids Public Schools, 5.00%, 5/1/39		835		910,860
Jenison Public Schools, 5.00%, 5/1/28		500		553,405
Jenison Public Schools, 5.00%, 5/1/30		500		550,740
Kent County, 5.00%, 1/1/25		1,500		1,676,055
Kent County, (AMT), 5.00%, 1/1/28		1,000		1,136,130
Lansing Community College, 5.00%, 5/1/30		1,005		1,141,469
Michigan, 5.50%, 11/1/25		270		305,329
Walled Lake Consolidated School District, 5.00%, 5/1/34		365		411,724
Watervliet Public Schools, 5.00%, 5/1/38		1,000		1,094,020

			$	8,703,892


Hospital — 28.0%
Grand Traverse County Hospital Finance Authority, (Munson Healthcare), 5.00%, 7/1/47	$	1,000	$	1,068,850


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
Michigan Finance Authority, (McLaren Health Care), 5.00%, 6/1/35	$	250	$	273,120
Michigan Finance Authority, (Oakwood Obligated Group), 5.00%, 11/1/32		500		546,755
Michigan Finance Authority, (Trinity Health Corp.), 5.00%, 12/1/27		1,000		1,133,340
Michigan Hospital Finance Authority, (Henry Ford Health System), 5.00%, 11/15/38		250		260,265
Michigan Hospital Finance Authority, (Henry Ford Health System), 5.25%, 11/15/46		1,000		1,044,130
Michigan Hospital Finance Authority, (McLaren Health Care), 5.00%, 8/1/35		1,080		1,088,716
Monroe County Hospital Finance Authority, (Mercy Memorial Hospital Corp.), 5.375%, 6/1/26		425		434,652
Royal Oak Hospital Finance Authority, (William Beaumont Hospital), 5.00%, 9/1/39		1,250		1,343,887
Saginaw Hospital Finance Authority, (Covenant Medical Center, Inc.), 5.00%, 7/1/30		1,000		1,098,670

			$	8,292,385


Housing — 0.5%
Michigan Housing Development Authority, 4.60%, 12/1/26	$	135	$	140,045

			$	140,045


Industrial Development Revenue — 2.5%
Detroit Local Development Finance Authority, (Chrysler Corp.), 5.375%, 5/1/21	$	750	$	732,713

			$	732,713


Insured – Education — 5.1%
Ferris State University, (AGC), 5.125%, 10/1/33	$	570	$	626,704
Ferris State University, (AGC), 5.25%, 10/1/38		500		551,750
Wayne State University, (AGM), 5.00%, 11/15/35		300		330,123

			$	1,508,577


Insured – Electric Utilities — 3.5%
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29	$	630	$	625,943
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/32		250		247,900
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34		155		153,609

			$	1,027,452


Insured – General Obligations — 26.4%
Battle Creek School District, (AGM), 5.00%, 5/1/37	$	1,105	$	1,174,969
Bay City Brownfield Redevelopment Authority, (BAM), 5.375%, 10/1/38		500		548,870


		17		See Notes to Financial Statements.

Eaton Vance

Michigan Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Insured – General Obligations (continued)
Byron Center Public Schools, (AGM), 3.75%, 5/1/26	$	150	$	155,693
Byron Center Public Schools, (AGM), 4.00%, 5/1/28		240		248,726
Detroit School District, (AGM), 5.25%, 5/1/32		300		344,976
Hartland Consolidated Schools, (AGM), 5.25%, 5/1/29		1,000		1,112,050
Livonia Public Schools, (AGM), 5.00%, 5/1/43		910		1,002,383
South Haven Public Schools, (BAM), 5.00%, 5/1/41		1,200		1,321,428
Van Dyke Public Schools, (AGM), 5.00%, 5/1/38		1,250		1,357,662
Westland Tax Increment Finance Authority, (BAM), 5.25%, 4/1/34		500		540,625

			$	7,807,382


Insured – Lease Revenue / Certificates of Participation — 6.2%
Michigan Building Authority, (AGM), (FGIC), 0.00%, 10/15/29	$	1,000	$	504,870
Michigan Building Authority, (NPFG), 0.00%, 10/15/30		2,800		1,331,176

			$	1,836,046


Insured – Special Tax Revenue — 0.4%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	895	$	126,356

			$	126,356


Insured – Transportation — 3.7%
Wayne County Airport Authority, (AGC), (AMT), 5.375%, 12/1/32	$	1,000	$	1,109,790

			$	1,109,790


Insured – Water and Sewer — 7.3%
Detroit, Sewage Disposal System, (AGC), (FGIC), 5.00%, 7/1/36	$	560	$	572,684
Grand Rapids, Water Supply System, (AGC), 5.10%, 1/1/39		1,000		1,103,530
Puerto Rico Aqueduct and Sewer Authority, (AGC), 5.00%, 7/1/28		475		479,778

			$	2,155,992


Lease Revenue / Certificates of Participation — 3.5%
Michigan Strategic Fund, (Facility for Rare Isotope Beams), 4.00%, 3/1/30	$	1,000	$	1,032,810

			$	1,032,810


Special Tax Revenue — 5.1%
Guam, Limited Obligation Bonds, 5.625%, 12/1/29	$	115	$	127,582
Guam, Limited Obligation Bonds, 5.75%, 12/1/34		125		139,163
Michigan Trunk Line Fund, 5.00%, 11/15/36		1,000		1,115,170
Virgin Islands Public Finance Authority, 6.75%, 10/1/37		110		124,908

			$	1,506,823


Security	Principal Amount (000’s omitted)		Value


Water and Sewer — 11.0%
Detroit, Water Supply System, 5.25%, 7/1/41	$	750	$	794,790
Grand Rapids, Sanitary Sewer System, 5.00%, 1/1/28		735		906,424
Michigan Finance Authority, (Detroit Water and Sewerage Department), (AMT), 5.00%, 7/1/44		1,250		1,284,475
Port Huron, Water Supply System, 5.25%, 10/1/31		250		271,410

			$	3,257,099


Total Tax-Exempt Investments — 156.8% (identified cost $43,479,221)			$	46,392,989


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (59.1)%			$	(17,500,408	)


Other Assets, Less Liabilities — 2.3%			$	703,695


Net Assets Applicable to Common Shares — 100.0%			$	29,596,276

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.
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.
FGIC	–	Financial Guaranty Insurance Company
NPFG	–	National Public Finance Guaranty Corp.

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, 2015, 33.6% 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 2.3% to 13.4% of total investments.


		18		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited)


Tax-Exempt Municipal Securities — 152.8%


Security	Principal Amount (000’s omitted)		Value


Education — 23.9%
Camden County Improvement Authority, (Rowan University School of Osteopathic Medicine), 5.00%, 12/1/32	$	1,270	$	1,412,050
New Jersey Educational Facilities Authority, (Kean University), 5.50%, 9/1/36		1,730		1,962,408
New Jersey Educational Facilities Authority, (Montclair State University), 5.00%, 7/1/33		620		706,347
New Jersey Educational Facilities Authority, (Montclair State University), 5.00%, 7/1/34		380		431,638
New Jersey Educational Facilities Authority, (Ramapo College), 5.00%, 7/1/37		640		692,685
New Jersey Educational Facilities Authority, (Ramapo College), 5.00%, 7/1/40		1,230		1,353,775
New Jersey Educational Facilities Authority, (Stevens Institute of Technology), 5.00%, 7/1/27		1,650		1,745,832
New Jersey Educational Facilities Authority, (University of Medicine and Dentistry), Prerefunded to 6/1/19, 7.50%, 12/1/32		965		1,197,498
New Jersey Institute of Technology, 5.00%, 7/1/42		1,295		1,428,799
Rutgers State University, 5.00%, 5/1/33		1,000		1,132,530
Rutgers State University, 5.00%, 5/1/39		2,900		3,234,341

			$	15,297,903


Escrowed / Prerefunded — 1.7%
New Jersey Health Care Facilities Financing Authority, (Chilton Memorial Hospital), Prerefunded to 7/1/19, 5.75%, 7/1/39	$	915	$	1,074,027

			$	1,074,027


General Obligations — 6.5%
Monmouth County Improvement Authority, 5.00%, 1/15/28	$	1,850	$	2,113,070
Monmouth County Improvement Authority, 5.00%, 1/15/30		1,795		2,036,230

			$	4,149,300


Hospital — 20.4%
Camden County Improvement Authority, (Cooper Health System), 5.75%, 2/15/42	$	650	$	736,548
New Jersey Health Care Facilities Financing Authority, (AHS Hospital Corp.), 5.00%, 7/1/27		2,290		2,489,001
New Jersey Health Care Facilities Financing Authority, (Atlanticare Regional Medical Center), 5.00%, 7/1/37		2,090		2,185,220
New Jersey Health Care Facilities Financing Authority, (Barnabas Health Obligated Group), 4.25%, 7/1/44		750		750,255
New Jersey Health Care Facilities Financing Authority, (Meridian Health System), 5.00%, 7/1/26		620		696,124
New Jersey Health Care Facilities Financing Authority, (Palisades Medical Center), 5.25%, 7/1/31		250		272,578


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
New Jersey Health Care Facilities Financing Authority, (Robert Wood Johnson University Hospital), 5.00%, 7/1/31	$	2,055	$	2,245,601
New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), 5.00%, 7/1/46		2,380		2,435,906
New Jersey Health Care Facilities Financing Authority, (South Jersey Hospital), Prerefunded to 7/1/16, 5.00%, 7/1/46		60		62,703
New Jersey Health Care Facilities Financing Authority, (Virtua Health), 5.75%, 7/1/33		1,075		1,215,782

			$	13,089,718


Housing — 1.5%
New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 4.70%, 10/1/37	$	495	$	500,227
New Jersey Housing and Mortgage Finance Agency, (Single Family Housing), (AMT), 5.00%, 10/1/37		480		486,855

			$	987,082


Industrial Development Revenue — 6.0%
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.125%, 9/15/23	$	50	$	54,828
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.25%, 9/15/29		135		147,303
New Jersey Economic Development Authority, (Continental Airlines), (AMT), 5.50%, 6/1/33		750		831,727
New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 5.10%, 6/1/23		220		244,614
New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.), (AMT), 5.70%, 10/1/39		2,235		2,551,275

			$	3,829,747


Insured – Electric Utilities — 1.9%
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29	$	135	$	134,130
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34		490		485,605
Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/35		595		589,508

			$	1,209,243


Insured – Escrowed / Prerefunded — 4.0%
Lakewood Township, (AGC), Prerefunded to 11/1/18, 5.75%, 11/1/31	$	1,240	$	1,431,815
New Jersey Economic Development Authority, (School Facilities Construction), (AGC), Prerefunded to 12/15/18, 5.50%, 12/15/34		970		1,113,017

			$	2,544,832


		19		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Insured – Gas Utilities — 5.6%
New Jersey Economic Development Authority, (New Jersey Natural Gas Co.), (NPFG), (AMT), 4.90% to 10/1/25 (Put Date), 10/1/40	$	3,540	$	3,594,551

			$	3,594,551


Insured – General Obligations — 4.8%
Hudson County Improvement Authority, (Harrison Parking), (AGC), 5.25%, 1/1/39	$	1,015	$	1,126,071
Irvington Township, (AGM), 5.00%, 7/15/31		1,000		1,128,800
Paterson, (BAM), 5.00%, 1/15/26		750		823,575

			$	3,078,446


Insured – Hospital — 4.4%
New Jersey Economic Development Authority, (Hillcrest Health Service System), (AMBAC), 0.00%, 1/1/20	$	100	$	87,762
New Jersey Economic Development Authority, (Hillcrest Health Service System), (AMBAC), 0.00%, 1/1/21		300		253,518
New Jersey Health Care Facilities Financing Authority, (Meridian Health System), Series II, (AGC), 5.00%, 7/1/38		380		403,868
New Jersey Health Care Facilities Financing Authority, (Meridian Health System), Series V, (AGC), 5.00%, 7/1/38⁽¹⁾		500		531,405
New Jersey Health Care Facilities Financing Authority, (Virtua Health), (AGC), 5.50%, 7/1/38		1,380		1,530,861

			$	2,807,414


Insured – Industrial Development Revenue — 3.3%
New Jersey Economic Development Authority, (United Water New Jersey, Inc.), (AMBAC), (AMT), 4.875%, 11/1/25	$	1,940	$	2,096,170

			$	2,096,170


Insured – Lease Revenue / Certificates of Participation — 3.7%
New Jersey Economic Development Authority, (School Facilities Construction), (AGC), 5.50%, 12/15/34	$	530	$	597,538
New Jersey Economic Development Authority, (School Facilities Construction), (AGM), 5.00%, 6/15/33		640		674,733
New Jersey Economic Development Authority, (School Facilities Construction), (NPFG), 5.50%, 9/1/28		1,000		1,124,880

			$	2,397,151


Insured – Special Tax Revenue — 13.0%
Garden State Preservation Trust, (AGM), 0.00%, 11/1/25	$	5,250	$	3,896,970
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/26		4,300		2,866,767
New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (XLCA), 0.00%, 7/1/27		2,020		1,279,246


Security	Principal Amount (000’s omitted)		Value


Insured – Special Tax Revenue (continued)
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	2,020	$	285,183

			$	8,328,166


Insured – Student Loan — 3.2%
New Jersey Higher Education Student Assistance Authority, (AGC), (AMT), 6.125%, 6/1/30⁽²⁾	$	1,895	$	2,059,998

			$	2,059,998


Insured – Transportation — 4.6%
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.00%, 1/1/31	$	850	$	944,852
New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AGM), (AMT), 5.125%, 1/1/39		1,500		1,638,690
South Jersey Transportation Authority, (AGC), 5.50%, 11/1/33		315		355,471

			$	2,939,013


Lease Revenue / Certificates of Participation — 5.7%
New Jersey Economic Development Authority, (School Facilities Construction), 5.25%, 12/15/33	$	1,500	$	1,535,580
New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), 5.25%, 10/1/38		1,700		1,821,720
New Jersey Health Care Facilities Financing Authority, (Hospital Asset Transformation Program), 5.75%, 10/1/31		250		277,873

			$	3,635,173


Other Revenue — 4.4%
New Jersey Economic Development Authority, (Duke Farms Foundation), 5.00%, 7/1/48	$	2,040	$	2,277,844
New Jersey Economic Development Authority, (The Seeing Eye, Inc.), 5.00%, 6/1/32		500		559,410

			$	2,837,254


Senior Living / Life Care — 4.7%
New Jersey Economic Development Authority, (Cranes Mill, Inc.), 5.875%, 7/1/28	$	465	$	483,363
New Jersey Economic Development Authority, (Cranes Mill, Inc.), 6.00%, 7/1/38		770		798,321
New Jersey Economic Development Authority, (Seabrook Village), 5.25%, 11/15/36		815		829,539
New Jersey Economic Development Authority, (United Methodist Homes of New Jersey), 4.50%, 7/1/38		700		703,038
New Jersey Economic Development Authority, (United Methodist Homes of New Jersey), 5.00%, 7/1/29		215		229,467

			$	3,043,728


		20		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Special Tax Revenue — 2.6%
New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/27	$	100	$	103,178
New Jersey Economic Development Authority, (Newark Downtown District Management Corp.), 5.125%, 6/15/37		175		178,997
Puerto Rico Sales Tax Financing Corp., 5.00%, 8/1/40		750		524,678
Puerto Rico Sales Tax Financing Corp., 5.75%, 8/1/37		500		314,550
Virgin Islands Public Finance Authority, 6.75%, 10/1/37		500		567,765

			$	1,689,168


Student Loan — 4.5%
New Jersey Higher Education Student Assistance Authority, (AMT), 1.212%, 6/1/36^(1)(3)(4)	$	2,125	$	2,111,808
New Jersey Higher Education Student Assistance Authority, (AMT), 4.75%, 12/1/43		740		747,444

			$	2,859,252


Transportation — 20.2%
Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/35	$	1,060	$	1,173,367
Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/40		1,080		1,182,848
New Jersey Transportation Trust Fund Authority, (Transportation System), 0.00%, 12/15/26		2,000		1,149,820
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.50%, 6/15/31		1,850		1,966,013
New Jersey Transportation Trust Fund Authority, (Transportation System), 5.875%, 12/15/38		250		278,088
New Jersey Transportation Trust Fund Authority, (Transportation System), 6.00%, 12/15/38		530		591,777
New Jersey Turnpike Authority, 5.25%, 1/1/40		3,600		3,971,592
Port Authority of New York and New Jersey, (AMT), 5.75%, 3/15/35⁽¹⁾		1,995		2,204,954
South Jersey Transportation Authority, 5.00%, 11/1/39		400		421,176

			$	12,939,635


Water and Sewer — 2.2%
North Hudson Sewerage Authority, 5.00%, 6/1/29	$	1,275	$	1,413,784

			$	1,413,784


Total Tax-Exempt Municipal Securities — 152.8% (identified cost $90,528,355)			$	97,900,755


Taxable Municipal Securities — 1.6%


Security	Principal Amount (000’s omitted)		Value


General Obligations — 1.6%
Atlantic City, 7.50%, 3/1/40⁽⁵⁾	$	1,000	$	1,003,190


Total Taxable Municipal Securities — 1.6% (identified cost $972,470)			$	1,003,190


Corporate Bonds & Notes — 0.8%


Security	Principal Amount (000’s omitted)		Value

Hospital — 0.8%
AHS Hospital Corp., 5.024%, 7/1/45	$	485	$	498,788


Total Corporate Bonds & Notes — 0.8% (identified cost $485,000)			$	498,788


Total Investments — 155.2% (identified cost $91,985,825)			$	99,402,733


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (52.2)%			$	(33,426,505	)


Other Assets, Less Liabilities — (3.0)%			$	(1,930,958	)


Net Assets Applicable to Common Shares — 100.0%			$	64,045,270

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.
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.

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, 2015, 31.2% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution or financial guaranty assurance agency ranged from 0.8% to 9.2% of total investments.


		21		See Notes to Financial Statements.

Eaton Vance

New Jersey Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued

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

⁽²⁾	Security (or a portion thereof) has been segregated to cover payable for when-issued securities.

⁽³⁾	Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $411,808.

⁽⁴⁾	Variable rate security. The stated interest rate represents the rate in effect at May 31, 2015.

⁽⁵⁾	When-issued security.


		22		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited)


Tax-Exempt Investments — 161.3%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 6.0%
New York Environmental Facilities Corp., 5.00%, 10/15/39	$	1,730	$	1,957,582
New York Environmental Facilities Corp., (New York City Municipal Water Finance Authority), 5.00%, 6/15/37⁽¹⁾		2,535		2,800,541

			$	4,758,123


Cogeneration — 1.3%
Suffolk County Industrial Development Agency, (Nissequogue Cogeneration Partners Facility), (AMT), 5.50%, 1/1/23	$	990	$	990,119

			$	990,119


Education — 27.7%
Hempstead Local Development Corp., (Adelphi University), 5.00%, 6/1/31	$	310	$	340,092
New York City Cultural Resources Trust, (The Juilliard School), 5.00%, 1/1/34		1,490		1,648,402
New York City Cultural Resources Trust, (The Juilliard School), 5.00%, 1/1/39		325		359,310
New York Dormitory Authority, (Brooklyn Law School), 5.75%, 7/1/33		510		572,031
New York Dormitory Authority, (Columbia University), 5.00%, 7/1/38		1,000		1,103,500
New York Dormitory Authority, (Columbia University), 5.00%, 10/1/41		725		818,924
New York Dormitory Authority, (Cornell University), 5.00%, 7/1/34		510		578,906
New York Dormitory Authority, (Cornell University), 5.00%, 7/1/39		2,000		2,266,820
New York Dormitory Authority, (Culinary Institute of America), 5.50%, 7/1/33		220		243,566
New York Dormitory Authority, (Fordham University), 5.50%, 7/1/36		1,000		1,175,670
New York Dormitory Authority, (Rochester Institute of Technology), Prerefunded to 7/1/18, 6.00%, 7/1/33		2,250		2,587,230
New York Dormitory Authority, (Rockefeller University), 5.00%, 7/1/40		2,500		2,806,100
New York Dormitory Authority, (Skidmore College), 5.00%, 7/1/27		325		372,505
New York Dormitory Authority, (Skidmore College), 5.25%, 7/1/29		400		466,160
New York Dormitory Authority, (St. Francis College), 5.00%, 10/1/40		1,695		1,834,922
New York Dormitory Authority, (The New School), 5.50%, 7/1/40		2,000		2,273,220
Onondaga Civic Development Corp., (Le Moyne College), 5.20%, 7/1/29		280		297,576


Security	Principal Amount (000’s omitted)		Value


Education (continued)
Onondaga Civic Development Corp., (Le Moyne College), 5.375%, 7/1/40	$	735	$	786,678
Onondaga County Cultural Resources Trust, (Syracuse University), 5.00%, 12/1/38		1,205		1,364,434

			$	21,896,046


Electric Utilities — 6.7%
Long Island Power Authority, Electric System Revenue, 6.00%, 5/1/33	$	1,420	$	1,647,015
Suffolk County Industrial Development Agency, (KeySpan-Port Jefferson Energy Center, LLC), (AMT), 5.25%, 6/1/27		1,645		1,651,991
Utility Debt Securitization Authority, 5.00%, 12/15/33		1,735		2,004,706

			$	5,303,712


Escrowed / Prerefunded — 3.7%
New York City, Prerefunded to 10/15/18, 6.25%, 10/15/28	$	650	$	761,761
New York Dormitory Authority, (NYU Hospitals Center), Prerefunded to 7/1/17, 5.00%, 7/1/36		750		817,327
New York Dormitory Authority, (NYU Hospitals Center), Prerefunded to 7/1/17, 5.625%, 7/1/37		1,250		1,378,400

			$	2,957,488


General Obligations — 6.2%
New York, 5.00%, 2/15/34⁽¹⁾	$	4,000	$	4,516,280
New York Ciy, 6.25%, 10/15/28		350		408,324

			$	4,924,604


Health Care – Miscellaneous — 0.2%
Suffolk County Industrial Development Agency, (Alliance of Long Island Agencies), Series A, Class H, 7.50%, 9/1/15	$	50	$	50,384
Suffolk County Industrial Development Agency, (Alliance of Long Island Agencies), Series A, Class I, 7.50%, 9/1/15		85		85,654

			$	136,038


Hospital — 18.9%
Dutchess County Local Development Corp., (Health Quest Systems, Inc.), 5.75%, 7/1/30	$	130	$	149,465
Dutchess County Local Development Corp., (Health Quest Systems, Inc.), 5.75%, 7/1/40		960		1,086,125
Fulton County Industrial Development Agency, (Nathan Littauer Hospital), 6.00%, 11/1/18		760		761,573
Monroe County Industrial Development Agency, (Highland Hospital), 5.00%, 8/1/25		2,490		2,507,306
Nassau County Local Economic Assistance Corp., (South Nassau Communities Hospital), 5.00%, 7/1/37		1,000		1,069,760


		23		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
New York Dormitory Authority, (Mount Sinai Hospital), 5.00%, 7/1/26	$	1,000	$	1,122,810
New York Dormitory Authority, (North Shore-Long Island Jewish Obligated Group), 5.00%, 5/1/32		1,000		1,093,840
New York Dormitory Authority, (North Shore-Long Island Jewish Obligated Group), 5.00%, 11/1/34		845		884,740
New York Dormitory Authority, (NYU Hospitals Center), 5.00%, 7/1/36		525		580,031
New York Dormitory Authority, (Orange Regional Medical Center), 6.125%, 12/1/29		415		459,085
New York Dormitory Authority, (Orange Regional Medical Center), 6.25%, 12/1/37		835		918,383
Oneida County Industrial Development Agency, (St. Elizabeth Medical Center), 5.75%, 12/1/19		840		842,024
Onondaga Civic Development Corp., (St. Joseph’s Hospital Health Center), 4.50%, 7/1/32		395		396,651
Onondaga Civic Development Corp., (St. Joseph’s Hospital Health Center), 5.00%, 7/1/42		1,000		1,029,410
Saratoga County Industrial Development Agency, (Saratoga Hospital), 5.25%, 12/1/32		650		694,129
Suffolk County Economic Development Corp., (Catholic Health Services of Long Island Obligated Group), 5.00%, 7/1/28		1,250		1,356,975

			$	14,952,307


Housing — 13.5%
New York City Housing Development Corp., MFMR, (AMT), 5.05%, 11/1/39	$	1,500	$	1,505,130
New York City Housing Development Corp., MFMR, (AMT), 5.20%, 11/1/40		2,620		2,666,112
New York Housing Finance Agency, 5.25%, 11/1/41		1,000		1,046,410
New York Housing Finance Agency, (FNMA), (AMT), 5.40%, 11/15/42		2,625		2,698,054
New York Mortgage Agency, (AMT), 4.875%, 10/1/30		1,500		1,546,905
New York Mortgage Agency, (AMT), 4.90%, 10/1/37		1,215		1,250,235

			$	10,712,846


Industrial Development Revenue — 6.1%
Essex County Industrial Development Agency, (International Paper Company), (AMT), 6.625%, 9/1/32	$	1,000	$	1,126,480
New York Environmental Facilities Corp., (Casella Waste Systems, Inc.), (AMT), 3.75% to 12/2/19 (Put Date), 12/1/44⁽²⁾		1,000		999,130
New York Liberty Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35		980		1,156,910
Niagara Area Development Corp., (Covanta Energy), (AMT), 5.25%, 11/1/42⁽²⁾		1,350		1,397,128


Security	Principal Amount (000’s omitted)		Value


Industrial Development Revenue (continued)
Port Authority of New York and New Jersey, (Continental Airlines), (AMT), 9.125%, 12/1/15	$	100	$	101,580

			$	4,781,228


Insured – Education — 7.0%
New York Dormitory Authority, (City University), (AMBAC), 5.50%, 7/1/35	$	1,250	$	1,448,538
New York Dormitory Authority, (State University), (BHAC), 5.00%, 7/1/38⁽¹⁾		1,500		1,644,765
Oneida County Industrial Development Agency, (Hamilton College), (NPFG), 0.00%, 7/1/33		5,365		2,415,859

			$	5,509,162


Insured – Electric Utilities — 2.0%
Long Island Power Authority, Electric System Revenue, (BHAC), 5.75%, 4/1/33	$	1,365	$	1,572,466

			$	1,572,466


Insured – General Obligations — 2.2%
Oyster Bay, (AGM), 4.00%, 8/1/28	$	1,680	$	1,763,362

			$	1,763,362


Insured – Other Revenue — 4.2%
New York City Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/31	$	2,645	$	1,456,019
New York City Industrial Development Agency, (Yankee Stadium), (AGC), 0.00%, 3/1/32		3,625		1,877,605

			$	3,333,624


Insured – Special Tax Revenue — 0.4%
Puerto Rico Sales Tax Financing Corp., (NPFG), 0.00%, 8/1/45	$	2,475	$	349,420

			$	349,420


Insured – Water and Sewer — 1.3%
Nassau County Industrial Development Agency, (New York Water Services Corp.), (AMBAC), (AMT), 5.00%, 12/1/35	$	1,000	$	1,017,970

			$	1,017,970


Other Revenue — 9.2%
Brooklyn Arena Local Development Corp., (Barclays Center), 0.00%, 7/15/31	$	3,120	$	1,520,969
Brooklyn Arena Local Development Corp., (Barclays Center), 6.25%, 7/15/40		380		444,159


		24		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Other Revenue (continued)
New York City Cultural Resources Trust, (Museum of Modern Art), 5.00%, 4/1/31	$	625	$	692,569
New York City Transitional Finance Authority, (Building Aid), 5.50%, 7/15/31		1,000		1,124,690
New York Liberty Development Corp., (3 World Trade Center), 5.00%, 11/15/44⁽²⁾		1,300		1,331,486
New York Liberty Development Corp., (7 World Trade Center), 5.00%, 3/15/44		2,000		2,159,820

			$	7,273,693


Senior Living / Life Care — 6.7%
Mount Vernon Industrial Development Agency, (Wartburg Senior Housing, Inc.), 6.20%, 6/1/29	$	1,450	$	1,451,465
New York Dormitory Authority, (Miriam Osborn Memorial Home Association), 5.00%, 7/1/29		280		296,904
New York Dormitory Authority, (Miriam Osborn Memorial Home Association), 5.00%, 7/1/42		120		125,702
Suffolk County Economic Development Corp., (Peconic Landing at Southold, Inc.), 6.00%, 12/1/40		905		986,884
Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.25%, 7/1/32		230		230,902
Tompkins County Development Corp., (Kendal at Ithaca, Inc.), 4.50%, 7/1/42		230		229,098
Westchester County Local Development Corp., (Kendal on Hudson), 5.00%, 1/1/34		1,830		1,949,316

			$	5,270,271


Special Tax Revenue — 21.0%
Metropolitan Transportation Authority, Dedicated Tax Revenue, 5.00%, 11/15/34	$	1,500	$	1,702,710
New York City Transitional Finance Authority, Future Tax Revenue, 5.50%, 11/1/35⁽¹⁾⁽³⁾		2,100		2,482,935
New York Dormitory Authority, Personal Income Tax Revenue, 5.00%, 3/15/33		1,000		1,134,390
New York Dormitory Authority, Personal Income Tax Revenue, (University & College Improvements), 5.25%, 3/15/38		1,000		1,126,200
New York Dormitory Authority, Sales Tax Revenue, 5.00%, 3/15/34		2,380		2,709,416
New York Thruway Authority, Fuel Tax Revenue, 5.00%, 4/1/30⁽¹⁾		6,000		6,846,240
Virgin Islands Public Finance Authority, 6.75%, 10/1/37		545		618,864

			$	16,620,755


Transportation — 10.8%
Metropolitan Transportation Authority, 5.00%, 11/15/37	$	790	$	850,490
Metropolitan Transportation Authority, 5.00%, 11/15/38		1,500		1,657,335
New York Thruway Authority, 5.00%, 1/1/37		700		780,241


Security	Principal Amount (000’s omitted)		Value


Transportation (continued)
New York Thruway Authority, 5.00%, 1/1/42	$	1,000	$	1,092,170
Port Authority of New York and New Jersey, (AMT), 5.75%, 3/15/35⁽¹⁾		990		1,094,188
Triborough Bridge and Tunnel Authority, 5.25%, 11/15/34⁽¹⁾		2,740		3,084,911

			$	8,559,335


Water and Sewer — 6.2%
Dutchess County Water and Wastewater Authority, 0.00%, 10/1/34	$	585	$	296,221
New York City Municipal Water Finance Authority, (Water and Sewer System), 5.75%, 6/15/40⁽¹⁾⁽³⁾		3,105		3,521,194
Saratoga County Water Authority, 5.00%, 9/1/48		1,000		1,099,490

			$	4,916,905


Total Tax-Exempt Investments — 161.3% (identified cost $115,643,535)			$	127,599,474


Miscellaneous — 0.9%


Security	Units		Value

Real Estate — 0.9%
CMS Liquidating Trust^(2)(4)(5)		257	$	742,730


Total Miscellaneous — 0.9% (identified cost $822,400)			$	742,730


Total Investments — 162.2% (identified cost $116,465,935)			$	128,342,204


Auction Preferred Shares Plus Cumulative Unpaid Dividends — (42.6)%			$	(33,725,543	)


Other Assets, Less Liabilities — (19.6)%			$	(15,513,871	)


Net Assets Applicable to Common Shares — 100.0%			$	79,102,790

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.
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.
FNMA	–	Federal National Mortgage Association
MFMR	–	Multi-Family Mortgage Revenue
NPFG	–	National Public Finance Guaranty Corp.


		25		See Notes to Financial Statements.

Eaton Vance

New York Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued

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, 2015, 10.6% 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 1.4% to 2.6% of total investments.

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

⁽²⁾

Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be sold in certain transactions (normally to qualified institutional buyers) and remain exempt from registration. At May 31, 2015, the aggregate value of these securities is $4,470,474 or 5.7% of the Trust’s net assets applicable to common shares.

⁽³⁾	Security (or a portion thereof) has been pledged as collateral for residual interest bond transactions. The aggregate value of such collateral is $2,359,129.

⁽⁴⁾	Non-income producing.

⁽⁵⁾	For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 8).


		26		See Notes to Financial Statements.

Eaton Vance

Ohio Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited)


Tax-Exempt Investments — 150.2%


Security	Principal Amount (000’s omitted)		Value


Bond Bank — 3.4%
Ohio Water Development Authority, Water Pollution Control Loan Fund, (Water Quality), 5.00%, 12/1/28	$	250	$	287,160
Ohio Water Development Authority, Water Pollution Control Loan Fund, (Water Quality), 5.00%, 6/1/30		210		240,902
Rickenbacker Port Authority, (OASBO Expanded Asset Pooled Financing Program), 5.375%, 1/1/32		900		923,067

			$	1,451,129


Education — 18.3%
Miami University, 4.00%, 9/1/39	$	500	$	516,000
Miami University, 5.00%, 9/1/33		1,000		1,124,300
Ohio Higher Educational Facility Commission, (Kenyon College), 5.00%, 7/1/44		440		474,399
Ohio Higher Educational Facility Commission, (Kenyon College), 5.25%, 7/1/44		1,250		1,404,625
Ohio Higher Educational Facility Commission, (Oberlin College), 5.00%, 10/1/33		500		563,835
Ohio Higher Educational Facility Commission, (University of Dayton), 5.50%, 12/1/36		1,000		1,117,950
Ohio State University, 5.00%, 12/1/28		480		593,443
Ohio State University, 5.00%, 12/1/30		545		676,285
University of Cincinnati, 5.00%, 6/1/34		500		563,100
Wright State University, 5.00%, 5/1/31		750		821,865

			$	7,855,802


Electric Utilities — 2.6%
American Municipal Power, Inc., (AMP Fremont Energy Center), 5.00%, 2/15/32	$	470	$	521,907
Ohio Air Quality Development Authority, (Buckeye Power, Inc.), 6.00%, 12/1/40		500		583,005

			$	1,104,912


Escrowed / Prerefunded — 10.4%
Beavercreek City School District, Prerefunded to 6/1/19, 5.00%, 12/1/30	$	1,750	$	1,997,135
Central Ohio Solid Waste Authority, Prerefunded to 9/1/18, 5.125%, 9/1/27		65		73,390
Franklin County Convention Facilities Authority, Prerefunded to 12/1/17, 5.00%, 12/1/27		445		490,679
Hamilton County, Sewer System, Prerefunded to 12/1/17, 5.00%, 12/1/32		750		827,190
Maple Heights City School District, Prerefunded to 1/15/17, 5.00%, 1/15/37		180		192,616


Security	Principal Amount (000’s omitted)		Value


Escrowed / Prerefunded (continued)
Maple Heights City School District, Prerefunded to 1/15/17, 5.00%, 1/15/37	$	195	$	208,668
Maple Heights City School District, Prerefunded to 1/15/17, 5.00%, 1/15/37		625		669,225
Ohio State University, Escrowed to Maturity, 5.00%, 12/1/28		20		25,354

			$	4,484,257


General Obligations — 14.3%
Apollo Career Center Joint Vocational School District, 5.25%, 12/1/33	$	335	$	378,614
Barberton City School District, 4.50%, 12/1/33		900		940,950
Central Ohio Solid Waste Authority, 5.125%, 9/1/27		1,025		1,134,921
Dayton City School District, 5.00%, 11/1/31		100		120,145
Huber Heights City School District, 4.75%, 12/1/25		595		670,636
Lakewood City School District, 5.00%, 11/1/39		400		446,944
Oregon City School District, 4.00%, 12/1/30		1,250		1,297,638
Symmes Township, Hamilton County, (Parkland Acquisition and Improvement), 5.25%, 12/1/37		1,000		1,164,660

			$	6,154,508


Hospital — 22.2%
Akron, Bath and Copley Joint Township Hospital District, (Children’s Hospital Medical Center of Akron), 5.00%, 11/15/32	$	1,075	$	1,179,759
Akron, Bath and Copley Joint Township Hospital District, (Children’s Hospital Medical Center of Akron), 5.00%, 11/15/38		560		602,000
Butler County, (Kettering Health Network Obligated Group), 5.25%, 4/1/31		500		548,730
Franklin County, (Nationwide Children’s Hospital), 5.00%, 11/1/34		800		884,640
Hamilton County, (Cincinnati Children’s Hospital Medical Center), 5.00%, 5/15/34		250		282,528
Hancock County, (Blanchard Valley Regional Health Center), 6.25%, 12/1/34		750		878,775
Miami County, (Upper Valley Medical Center), 5.25%, 5/15/26		500		516,360
Middleburg Heights, (Southwest General Health Center), 5.25%, 8/1/36		500		533,715
Middleburg Heights, (Southwest General Health Center), 5.25%, 8/1/41		800		853,040
Montgomery County, (Catholic Health Initiatives), 5.50%, 5/1/34		500		565,630
Ohio Higher Educational Facility Commission, (Cleveland Clinic Health System), 5.50%, 1/1/39		1,000		1,117,290
Ohio Higher Educational Facility Commission, (Summa Health System), 5.75%, 11/15/40		555		605,993


		27		See Notes to Financial Statements.

Eaton Vance

Ohio Municipal Income Trust

May 31, 2015

Portfolio of Investments (Unaudited) — continued


Security	Principal Amount (000’s omitted)		Value


Hospital (continued)
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), 5.00%, 1/15/27	$	565	$	636,698
Ohio Higher Educational Facility Commission, (University Hospitals Health System, Inc.), 5.00%, 1/15/29		165		183,714
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.00%, 12/1/43		90		91,018
Southeastern Ohio Port Authority, (Memorial Health System Obligated Group), 5.50%, 12/1/43		80		84,109

			$	9,563,999


Housing — 6.0%
Ohio Housing Finance Agency, (Uptown Community Partners), (AMT), (GNMA), 5.25%, 4/20/48	$	2,500	$	2,569,275

			$	2,569,275


Industrial Development Revenue — 1.3%
Cleveland, (Continental Airlines), (AMT), 5.375%, 9/15/27	$	555	$	557,059

			$	557,059


Insured – Education — 11.7%
Hamilton County, (University Heights Community Urban Development Corp.), (AGM), 5.00%, 6/1/30	$