|
|
UNITED STATES |
|
|
|
|
|
|
|
||
|
|
|
|
|
|
FORM N-Q |
|
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
|
Investment Company Act file number |
811-21218 |
|
|||||||
|
Eaton Vance Insured New York Municipal Bond Fund II |
|||||||||
|
(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. |
|||||||||
|
(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 II |
|
as of December 31, 2004 |
|
PORTFOLIO OF INVESTMENTS |
|
|
|
Tax-Exempt Investments — 156.7% |
|
|
|
||||
|
|
|
|
|
|
|
||
|
Principal |
|
|
|
|
|
||
|
Amount |
|
|
|
|
|
||
|
(000’s omitted) |
|
Security |
|
Value |
|
||
|
|
|
|
|
|
|
||
|
General Obligations — 7.2% |
|
|
|
||||
|
$ |
500 |
|
New York, 5.00%, 8/1/21 |
|
$ |
521,840 |
|
|
500 |
|
New York, 5.25%, 8/15/26 |
|
529,200 |
|
||
|
1,650 |
|
New York, NY, 5.25%, 1/15/28 |
|
1,722,484 |
|
||
|
|
|
|
|
$ |
2,773,524 |
|
|
|
|
|
|
|
|
|
||
|
Hospital — 2.0% |
|
|
|
|
|
||
|
750 |
|
Suffolk County Industrial Development Agency, |
|
782,512 |
|
||
|
|
|
|
|
$ |
782,512 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Electric Utilities — 14.0% |
|
|
|
||||
|
6,800 |
|
Long Island Power Authority Electric Systems Revenue, (FSA), 0.00%, 6/1/22 |
|
3,103,384 |
|
||
|
2,250 |
|
Long Island Power Authority, (NY Electric System), (AMBAC), 5.00%, 9/1/34 |
|
2,312,033 |
|
||
|
|
|
|
|
$ |
5,415,417 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Escrowed/Prerefunded — 12.3% |
|
|
|
||||
|
580 |
|
New York City Trust Cultural Resources, (Museum of History), Prerefunded to 7/1/09, (AMBAC), Variable Rate, 12.689%, 7/1/29(1)(2) |
|
723,979 |
|
||
|
3,000 |
|
New York Urban Development Corp., (Personal Income Tax), Prerefunded to 3/15/13, (FGIC), 5.00%, 3/15/33 |
|
3,359,490 |
|
||
|
500 |
|
Puerto Rico, (FGIC), Variable Rate, Prerefunded to 7/1/12, 9.853%, 7/1/32(1)(2) |
|
677,180 |
|
||
|
|
|
|
|
$ |
4,760,649 |
|
|
1
|
Insured-General Obligations — 10.0% |
|
|
|
||||
|
$ |
2,245 |
|
New York Dormitory Authority, (School Districts Financing Program), (MBIA), 5.00%, 10/1/30 |
|
$ |
2,303,572 |
|
|
1,500 |
|
Sachem School District, (MBIA), 5.00%, 6/15/27 |
|
1,565,640 |
|
||
|
|
|
|
|
$ |
3,869,212 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Hospital — 12.1% |
|
|
|
||||
|
1,250 |
|
New York City Health and Hospital Corp., (Health Systems), (AMBAC), 5.00%, 2/15/23 |
|
1,310,700 |
|
||
|
6,125 |
|
New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center), (MBIA), 0.00%, 7/1/26 |
|
2,211,370 |
|
||
|
3,365 |
|
New York Dormitory Authority, (Memorial Sloan-Kettering Cancer Center), (MBIA), 0.00%, 7/1/27 |
|
1,143,494 |
|
||
|
|
|
|
|
$ |
4,665,564 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Lease Revenue / Certificates of Participation — 3.4% |
|
|
|
||||
|
1,000 |
|
Puerto Rico Public Building Authority, (CIFG), |
|
1,292,750 |
|
||
|
|
|
|
|
$ |
1,292,750 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Miscellaneous — 5.4% |
|
|
|
||||
|
2,000 |
|
New York City Cultural Resource Trust, (Museum of Modern Art), (AMBAC), 5.125%, 7/1/31 |
|
2,074,320 |
|
||
|
|
|
|
|
$ |
2,074,320 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Private Education — 26.4% |
|
|
|
||||
|
1,000 |
|
New York City Industrial Development Agency, (New York University), (AMBAC), 5.00%, 7/1/31 |
|
1,021,970 |
|
||
|
2,500 |
|
New York Dormitory Authority, (Brooklyn Law School), (XLCA), 5.125%, 7/1/30 |
|
2,592,375 |
|
||
|
2,265 |
|
New York Dormitory Authority, (FIT Student Housing Corp.), (FGIC), 5.00%, 7/1/29 |
|
2,338,499 |
|
||
|
1,500 |
|
New York Dormitory Authority, (Fordham University), (FGIC), 5.00%, 7/1/32 |
|
1,536,270 |
|
||
|
1,000 |
|
New York Dormitory Authority, (New York University), (AMBAC), 5.00%, 7/1/31 |
|
1,021,970 |
|
||
|
500 |
|
New York Dormitory Authority, (Skidmore College), (FGIC), 5.00%, 7/1/33 |
|
514,670 |
|
||
|
1,125 |
|
New York Dormitory Authority, (University of Rochester), (MBIA), 5.00%, 7/1/27 |
|
1,164,375 |
|
||
|
|
|
|
|
$ |
10,190,129 |
|
|
2
|
Insured-Special Tax Revenue — 14.6% |
|
|
|
||||
|
$ |
1,000 |
|
Metropolitan Transportation Authority, Petroleum Tax Fund, (FGIC), 5.00%, 11/15/31 |
|
$ |
1,022,990 |
|
|
2,000 |
|
Metropolitan Transportation Authority, Petroleum Tax Fund, (FGIC), 5.25%, 11/15/31 |
|
2,122,080 |
|
||
|
2,450 |
|
New York City Transitional Finance Authority, (MBIA), 4.75%, 5/1/23 |
|
2,494,321 |
|
||
|
|
|
|
|
$ |
5,639,391 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Transportation — 16.0% |
|
|
|
||||
|
835 |
|
Port Authority of New York and New Jersey, |
|
936,503 |
|
||
|
1,000 |
|
Puerto Rico Highway and Transportation Authority, (AMBAC), Variable Rate, 9.862%, 7/1/28(1)(2) |
|
1,124,880 |
|
||
|
2,000 |
|
Puerto Rico Highway and Transportation Authority, (MBIA), 5.00%, 7/1/33 |
|
2,069,280 |
|
||
|
2,000 |
|
Triborough Bridge and Tunnel Authority, (MBIA), 5.00%, 11/15/32 |
|
2,050,240 |
|
||
|
|
|
|
|
$ |
6,180,903 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Water and Sewer — 14.3% |
|
|
|
||||
|
3,000 |
|
New York City Municipal Water Finance Authority, (AMBAC), 5.00%, 6/15/38(3) |
|
3,071,610 |
|
||
|
2,400 |
|
Niagara Falls, Public Water Authority and Sewer System, (MBIA), 5.00%, 7/15/34 |
|
2,463,528 |
|
||
|
|
|
|
|
$ |
5,535,138 |
|
|
|
|
|
|
|
|
|
||
|
Insured-Water Revenue — 2.7% |
|
|
|
||||
|
1,000 |
|
Buffalo Municipal Water Finance Authority, (FSA), 5.125%, 7/1/32 |
|
1,034,590 |
|
||
|
|
|
|
|
$ |
1,034,590 |
|
|
|
|
|
|
|
|
|
||
|
Other Revenue — 1.7% |
|
|
|
||||
|
500 |
|
Puerto Rico Infrastructure Financing Authority, |
|
637,310 |
|
||
|
|
|
|
|
$ |
637,310 |
|
|
|
|
|
|
|
|
|
||
|
Private Education — 5.3% |
|
|
|
||||
|
1,000 |
|
Dutchess County, Industrial Development Agency, (Marist College), 5.00%, 7/1/22 |
|
1,034,640 |
|
||
|
1,000 |
|
New York City Industrial Development Agency, (St. Francis College), 5.00%, 10/1/34 |
|
1,012,170 |
|
||
|
|
|
|
|
$ |
2,046,810 |
|
|
3
|
Transportation — 9.3% |
|
|
|
||||
|
$ |
1,000 |
|
Port Authority of New York and New Jersey, 5.00%, 9/1/38 |
|
$ |
1,021,590 |
|
|
2,500 |
|
Triborough Bridge and Tunnel Authority, 5.125%, 1/1/31 |
|
2,577,050 |
|
||
|
|
|
|
|
$ |
3,598,640 |
|
|
|
|
|
|
|
|
|
||
|
Total Tax-Exempt Investments — 156.7% |
|
$ |
60,496,859 |
|
|||
|
|
|
|
|
|
|||
|
Other Assets, Less Liabilities — 1.6% |
|
$ |
627,314 |
|
|||
|
|
|
|
|
|
|||
|
Auction Preferred Shares Plus Cumulative Unpaid Dividends — (58.2)% |
|
$ |
(22,503,468 |
) |
|||
|
|
|
|
|
|
|||
|
Net Assets Applicable to Common Shares— 100.0% |
|
$ |
38,620,705 |
|
|||
|
AMBAC |
- |
AMBAC Financial Group, Inc. |
|
|
|
|
|
CIFG |
- |
CDC IXIS Financial Guaranty North America, 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, 83.7% of the securities in the portfolio of investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 2.1% to 28.9% of total investments. |
||
|
|
||
|
(1) |
|
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At December 31, 2004, the aggregate value of the securities is $5,392,602 or 14.0% of the Fund’s net assets. |
|
|
|
|
|
(2) |
|
Security has been issued as a leveraged inverse floater bond. The stated interest rate represents the rate in effect at December 31, 2004. |
|
|
|
|
|
(3) |
|
Security (or a portion thereof) has been segregated to cover margin requirements on open financial futures contracts. |
4
A summary of financial instruments at December 31, 2004 is as follows:
|
Futures Contracts |
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Expiration |
|
|
|
|
|
Aggregate |
|
|
|
Net |
|
|||
|
Date |
|
Contracts |
|
Position |
|
Cost |
|
Value |
|
Depreciation |
|
|||
|
03/05 |
|
135 U.S. Treasury Bond |
|
Short |
|
$ |
(14,878,957 |
) |
$ |
(15,187,500 |
) |
$ |
(308,543 |
) |
|
|
|
|
|
|
|
|
|
|
|
(308,543 |
) |
|||
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 |
|
$ |
57,552,103 |
|
|
Gross unrealized appreciation |
|
$ |
2,944,756 |
|
|
Gross unrealized depreciation |
|
— |
|
|
|
Net unrealized appreciation |
|
$ |
2,944,756 |
|
5
Item 2. Controls and Procedures
(a) It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant on this Form N-Q has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant on this Form N-Q has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure.
(b) There have been no changes in the registrant’s internal controls over financial reporting during the fiscal quarter for which the report is being filed that have materially affected, or are reasonably likely to materially affect the registrant’s internal control over financial reporting.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
Eaton Vance Insured New York Municipal Bond Fund II |
|
|
||||
|
|
|
|
||||
|
|
|
|
||||
|
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 |
|
|
|
||