UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

 

 

 

 

 

 

FORM N-Q

 

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number

811-21148

 

Eaton Vance Insured New York Municipal Bond Fund

(Exact name of registrant as specified in charter)

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

02109

(Address of principal executive offices)

(Zip code)

Alan R. Dynner, Esq.
Eaton Vance Management, 255 State Street, Boston, Massachusetts 02109

(Name and address of agent for service)

 

 

 

Registrant's telephone number, including area code:

(617) 482-8260

 

 

Date of fiscal year end:

September 30

 

 

Date of reporting period:

December 31, 2004

 

 


Item 1. Schedule of Investments

 


 

Insured New York Municipal Bond Fund

as of December 31, 2004

PORTFOLIO OF INVESTMENTS (Unaudited)

 

 

Tax-Exempt Investments — 161.5%

 

Principal
Amount
(000’s omitted)

 

Security

 

Value

 

Electric Utilities — 1.8%

 

 

 

1,950

 

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

 

$

1,996,429

 

1,000

 

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

 

1,042,520

 

1,000

 

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

 

1,048,170

 

 

 

 

 

$

4,087,119

 

 

 

 

 

 

 

General Obligations — 6.9%

 

 

 

2,000

 

New York, 5.00%, 8/1/21

 

2,087,360

 

3,000

 

New York, 5.00%, 12/1/33

 

3,043,230

 

1,500

 

New York, 5.25%, 1/15/28

 

1,565,895

 

3,500

 

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

 

3,704,400

 

3,075

 

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

 

3,210,484

 

2,000

 

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

 

2,080,360

 

 

 

 

 

$

15,691,729

 

 

 

 

 

 

 

Hospital — 6.2%

 

 

 

1,180

 

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

 

1,215,412

 

2,500

 

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

 

2,551,875

 

10,000

 

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

 

10,374,400

 

 

 

 

 

$

14,141,687

 

 

 

 

 

 

 

Insured-Electric Utilities — 5.0%

 

 

 

5,000

 

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

 

2,281,900

 

7,500

 

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

 

7,706,775

 

4,785

 

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

 

1,536,320

 

 

 

 

 

$

11,524,995

 

 

1


 

Insured-Escrowed/Prerefunded — 4.7%

 

 

 

9,500

 

New York Urban Development Corp., (Personal Income Tax), (MBIA), Prerefunded to 3/15/12, 5.125%, 3/15/27

 

$

10,687,595

 

 

 

 

 

$

10,687,595

 

 

 

 

 

 

 

Insured-General Obligations — 3.0%

 

 

 

1,750

 

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

 

1,795,658

 

2,700

 

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

 

2,825,874

 

2,085

 

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

 

2,162,145

 

 

 

 

 

$

6,783,677

 

 

 

 

 

 

 

Insured-Hospital — 24.6%

 

 

 

15,500

 

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

 

16,252,680

 

10,600

 

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

 

10,763,452

 

6,800

 

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

 

7,000,668

 

4,000

 

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

 

1,444,160

 

23,835

 

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

 

7,623,625

 

26,070

 

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

 

7,877,311

 

5,100

 

New York Dormitory Authority, (Montefiore Medical Center), (FGIC), 5.00%, 8/1/33

 

5,235,966

 

 

 

 

 

$

56,197,862

 

 

 

 

 

 

 

Insured-Other Revenue — 3.4%

 

 

 

5,535

 

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

 

5,646,198

 

2,000

 

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

 

2,059,220

 

 

 

 

 

$

7,705,418

 

 

2


 

Insured-Private Education — 29.7%

 

 

 

4,000

 

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

 

$

4,098,800

 

16,500

 

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

 

16,742,220

 

1,750

 

New York Dormitory Authority, (Barnard College), (AMBAC), 4.75%, 7/1/35

 

1,752,660

 

11,500

 

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

 

11,924,925

 

1,300

 

New York Dormitory Authority, (FIT Student Housing Corp.), (FGIC), 5.00%, 7/1/29

 

1,342,185

 

2,225

 

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

 

2,357,143

 

1,000

 

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

 

1,034,590

 

4,250

 

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

 

4,343,373

 

4,500

 

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

 

4,566,060

 

3,000

 

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

 

3,487,740

 

13,585

 

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

 

14,293,729

 

1,820

 

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

 

1,824,368

 

 

 

 

 

$

67,767,793

 

 

 

 

 

 

 

Insured-Public Education — 4.2%

 

 

 

9,500

 

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

 

9,589,300

 

 

 

 

 

$

9,589,300

 

 

 

 

 

 

 

Insured-Solid Waste — 2.1%

 

 

 

1,645

 

Ulster County Resource Recovery Agency, Solid Waste System, (AMBAC), 0.00%, 3/1/20

 

844,477

 

1,790

 

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

 

868,347

 

1,240

 

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

 

569,445

 

1,090

 

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

 

474,150

 

1,490

 

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

 

612,196

 

3,735

 

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

 

1,450,637

 

 

 

 

 

$

4,819,252

 

 

3


 

Insured-Special Tax Revenue — 11.2%

 

 

 

2,000

 

Metropolitan Transportation Authority, Petroleum Tax Fund, (FGIC), 5.00%, 11/15/31

 

$

2,045,980

 

15,560

 

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

 

15,950,867

 

7,250

 

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

 

7,436,108

 

 

 

 

 

$

25,432,955

 

 

 

 

 

 

 

Insured-Transportation — 33.5%

 

 

 

32,500

 

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

 

33,359,625

 

5,775

 

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

 

5,983,940

 

11,500

 

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

 

11,898,360

 

24,600

 

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

 

25,217,952

 

 

 

 

 

$

76,459,877

 

 

 

 

 

 

 

Insured-Water and Sewer — 11.1%

 

 

 

7,000

 

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

 

7,167,090

 

10,000

 

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

 

10,346,500

 

7,500

 

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

 

7,698,525

 

 

 

 

 

$

25,212,115

 

 

 

 

 

 

 

Insured-Water Revenue — 0.8%

 

 

 

1,000

 

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

 

1,034,590

 

900

 

Upper Mohawk Valley Regional Water Finance Authority, (FGIC), 4.75%, 4/1/33

 

905,742

 

 

 

 

 

$

1,940,332

 

 

4


 

Lease Revenue/Certificates of Participation — 1.8%

 

 

 

4,000

 

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

 

$

4,115,320

 

 

 

 

 

$

4,115,320

 

 

 

 

 

 

 

Private Education — 2.1%

 

 

 

1,630

 

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

 

1,664,523

 

3,065

 

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

 

3,158,023

 

 

 

 

 

$

4,822,546

 

 

 

 

 

 

 

Special Tax Revenue — 1.1%

 

 

 

2,500

 

New York City Transitional Finance Authority, (Future Tax), 5.00%, 2/1/33

 

2,554,075

 

 

 

 

 

$

2,554,075

 

 

 

 

 

 

 

Transportation — 8.3%

 

 

 

14,500

 

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

 

14,813,055

 

3,990

 

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

 

4,084,962

 

 

 

 

 

$

18,898,017

 

 

 

 

 

 

 

Total Tax-Exempt Investments — 161.5%

 

 

 

(identified cost $354,530,807)

 

$

368,431,664

 

 

 

 

 

 

 

Other Assets, Less Liabilities — 0.9%

 

$

2,153,702

 

Auction Preferred Shares Plus Cumulative Unpaid Dividends — (62.4)%

 

$

(142,521,165

)

Net Assets Applicable to Common Shares— 100.0%

 

$

228,064,201

 

 

AMBAC

-

 

AMBAC Financial Group, Inc.

FGIC

-

 

Financial Guaranty Insurance Company

FSA

-

 

Financial Security Assurance, Inc.

MBIA

-

 

Municipal Bond Insurance Association

XLCA

-

 

XL Capital Assurance, Inc.

 

The Fund invests primarily in debt securities issued by New York municipalities.  The ability of the issuers of the debt securities to meet their obligations may be affected by economic developments in a specific industry or municipality.  In order to reduce the risk associated with such economic developments, at December 31, 2004, 82.5% of the securities in the portfolio of investments are backed by bond insurance of various financial institutions and financial guaranty assurance

 

5


 

agencies. The aggregate percentage insured by an individual financial institution ranged from 3.5% to 38.5% of total investments.

 

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

 

6


 

A summary of financial instruments at December 31, 2004 is as follows:

 

Futures Contracts

 

Expiration
Date(s)

 

Contracts

 

Position

 

Aggregate
Cost

 

Value

 

Net Unrealized
Depreciation

 

03/05

 

800 U.S. Treasury Bond

 

Short

 

$

(88,171,602

)

$

(90,000,000

)

$

(1,828,398

)

 

At December 31, 2004, the Fund had sufficient cash and/or securities to cover commitments under these contracts.

 

The cost and unrealized appreciation (depreciation) in value of the investments owned at December 31, 2004, as computed on a federal income tax basis, were as follows:

 

Aggregate cost

 

$

354,490,756

 

Gross unrealized appreciation

 

$

13,961,690

 

Gross unrealized depreciation

 

(20,782

)

Net unrealized appreciation

 

$

13,940,908

 

 


Item 2. Controls and Procedures

 

(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.

 

(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.

 


Signatures

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Eaton Vance Insured New York Municipal Bond Fund

 

 

By:

/s/Thomas J. Fetter

 

 

 

 

Thomas J. Fetter

 

President and Principal Executive Officer

 

 

Date:

February 18, 2005

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

By:

/s/Thomas J. Fetter

 

 

 

 

Thomas J. Fetter

 

President and Principal Executive Officer

 

 

Date:

February 18, 2005

 

 

 

 

 

By:

/s/James L. O’Connor

 

 

 

 

James L. O’Connor

 

Treasurer and Principal Financial Officer

 

 

Date:

February 18, 2005