UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

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 Services)

Registrant’s Telephone Number, Including Area Code:

 

(617) 482-8260

Date of Fiscal Year End:

 

September 30

Date of Reporting Period:

 

December 31, 2006

 

 



Item 1. Schedule of Investments



Eaton Vance Insured New York Municipal Bond Fund                                                        as of December 31, 2006

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 157.2%

Principal

 

 

 

 

 

Amount

 

 

 

 

 

(000's omitted)

 

Security

 

Value

 

Electric Utilities — 3.2%

 

 

 

$

1,950

 

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

 

$

2,038,120

 

4,260

 

Long Island Power Authority, Electric System Revenue, 5.00%, 12/1/35

 

4,504,098

 

1,000

 

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

 

1,059,340

 

 

 

 

 

$

7,601,558

 

Escrowed / Prerefunded — 0.2%

 

 

 

$

195

 

New York City, Prerefunded to 1/15/13, 5.25%, 1/15/33

 

$

211,947

 

360

 

New York City, Prerefunded to 6/1/12, 5.25%, 6/1/27

 

389,106

 

 

 

 

 

$

601,053

 

General Obligations — 4.2%

 

 

 

$

1,500

 

New York, 5.25%, 1/15/28

 

$

1,590,255

 

3,500

 

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

 

3,755,255

 

2,715

 

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

 

2,864,651

 

1,805

 

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

 

1,912,614

 

 

 

 

 

$

10,122,775

 

Hospital — 1.0%

 

 

 

$

640

 

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

 

$

670,586

 

1,750

 

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

 

1,826,947

 

 

 

 

 

$

2,497,533

 

Industrial Development Revenue — 2.9%

 

 

 

$

6,800

 

New York City Industrial Development Agency, (Liberty-IAC/Interactive Corp.), 5.00%, 9/1/35

 

$

7,066,764

 

 

 

 

 

$

7,066,764

 

Insured-Electric Utilities — 3.8%

 

 

 

$

7,500

 

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

 

$

7,908,750

 

2,785

 

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

 

1,133,634

 

 

 

 

 

$

9,042,384

 

Insured-Escrowed/Prerefunded — 3.1%

 

 

 

$

18,335

 

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

 

$

7,359,486

 

 

 

 

 

$

7,359,486

 

Insured-General Obligations — 4.0%

 

 

 

$

1,310

 

Minisink Valley Central School District, (FSA), 4.375%, 6/1/35

 

$

1,299,009

 

1,365

 

Minisink Valley Central School District, (FSA), 4.375%, 6/1/36

 

1,351,132

 

1,750

 

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

 

1,845,515

 

1



 

 

 

$

2,700

 

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

 

$

2,919,969

 

2,085

 

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

 

2,254,865

 

 

 

 

 

$

9,670,490

 

Insured-Health Care Miscellaneous — 0.3%

 

 

 

$

650

 

New York City Industrial Development Agency, (American National Red Cross), (AMBAC), 4.50%, 2/1/30

 

$

651,176

 

 

 

 

 

$

651,176

 

Insured-Hospital — 14.0%

 

 

 

$

15,500

 

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

 

$

16,317,005

 

10,000

 

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

 

10,184,300

 

6,800

 

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

 

7,184,064

 

 

 

 

 

$

33,685,369

 

Insured-Lease Revenue / Certificates of Participation — 3.3%

 

 

 

$

8,000

 

Hudson Yards Infrastructure Corp., (MBIA), 4.50%, 2/15/47

 

$

7,984,880

 

 

 

 

 

$

7,984,880

 

Insured-Other Revenue — 12.5%

 

 

 

$

5,535

 

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

 

$

5,809,923

 

2,000

 

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

 

2,105,040

 

11,000

 

New York City Industrial Development Agency, (Queens Baseball Stadium), (AMBAC), 4.75%, 1/1/42

 

11,322,300

 

2,500

 

New York City Industrial Development Agency, (Yankee Stadium), (FGIC), 4.50%, 3/1/39

 

2,506,075

 

8,000

 

New York City Industrial Development Agency, (Yankee Stadium), (MBIA), 4.75%, 3/1/46

 

8,222,000

 

 

 

 

 

$

29,965,338

 

Insured-Private Education — 24.7%

 

 

 

$

4,000

 

Madison County Industrial Development Agency, (Colgate University), (MBIA), 5.00%, 7/1/39

 

$

4,212,080

 

16,500

 

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

 

17,026,515

 

11,500

 

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

 

12,156,995

 

2,225

 

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

 

2,379,215

 

4,250

 

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

 

4,403,255

 

2



 

 

 

$

4,500

 

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

 

$

4,643,595

 

13,585

 

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

 

14,465,036

 

 

 

 

 

$

59,286,691

 

Insured-Public Education — 2.9%

 

 

 

$

7,000

 

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

 

$

7,052,080

 

 

 

 

 

$

7,052,080

 

Insured-Solid Waste — 2.0%

 

 

 

$

1,790

 

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

 

$

1,005,658

 

1,240

 

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

 

666,897

 

1,090

 

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

 

560,958

 

1,490

 

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

 

733,482

 

3,735

 

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

 

1,761,165

 

 

 

 

 

$

4,728,160

 

Insured-Special Tax Revenue — 19.1%

 

 

 

$

15,560

 

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

 

$

16,408,798

 

7,250

 

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

 

7,575,815

 

4,000

 

New York Convention Center Development Corp., Hotel Occupancy Tax, (AMBAC), 4.75%, 11/15/45

 

4,100,600

 

4,335

 

New York Convention Center Development Corp., Hotel Occupancy Tax, (AMBAC), 5.00%, 11/15/44

 

4,576,113

 

3,000

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/36

 

810,510

 

4,430

 

Puerto Rico Infrastructure Financing Authority, (AMBAC), 0.00%, 7/1/37

 

1,140,504

 

15,340

 

Puerto Rico Infrastructure Financing Authority, (FGIC), 0.00%, 7/1/30

 

5,519,792

 

18,305

 

Puerto Rico Infrastructure Financing Authority, (FGIC), 0.00%, 7/1/33

 

5,689,011

 

 

 

 

 

$

45,821,143

 

Insured-Transportation — 30.0%

 

 

 

$

32,500

 

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

 

$

34,107,775

 

11,500

 

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

 

12,102,485

 

24,600

 

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

 

25,968,498

 

 

 

 

 

$

72,178,758

 

3



 

 

 

Insured-Water and Sewer — 9.9%

 

 

 

$

7,000

 

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

 

$

7,390,880

 

10,000

 

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

 

10,572,000

 

5,500

 

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

 

5,820,320

 

 

 

 

 

$

23,783,200

 

Lease Revenue/Certificates of Participation — 6.1%

 

 

 

$

4,000

 

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

 

$

4,226,480

 

10,000

 

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

 

10,452,500

 

 

 

 

 

$

14,678,980

 

Private Education — 2.1%

 

 

 

$

150

 

Hempstead Industrial Development Agency, (Adelphi University), 5.00%, 10/1/35

 

$

157,416

 

1,630

 

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

 

1,703,089

 

3,065

 

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

 

3,160,138

 

 

 

 

 

$

5,020,643

 

Transportation — 6.3%

 

 

 

$

14,500

 

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

 

$

15,256,320

 

 

 

 

 

$

15,256,320

 

Water Revenue — 1.6%

 

 

 

$

3,750

 

New York State Environmental Facilities Corp., Clean Water, (Municipal Water Finance), 4.50%, 6/15/36

 

$

3,768,600

 

 

 

 

 

$

3,768,600

 

Total Tax-Exempt Investments — 157.2%
(identified cost $358,102,874)

 

$

377,823,381

 

Other Assets, Less Liabilities — 2.1%

 

$

5,027,739

 

Auction Preferred Shares Plus Cumulative Unpaid Dividends — (59.3)%

 

$

(142,576,529

)

Net Assets Applicable to Common Shares— 100.0%

 

$

240,274,591

 

 

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

4



 

 

December 31, 2006, 82.4% of total investments are backed by bond insurance of various financial institutions and financial guaranty assurance agencies. The aggregate percentage insured by an individual financial institution ranged from 3.2% to 33.6% of total investments.

(1)

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

 

A summary of financial instruments at December 31, 2006 is as follows:

Futures Contracts

Expiration

 

 

 

 

 

Aggregate

 

 

 

Net
Unrealized

 

Date

 

Contracts

 

Position

 

Cost

 

Value

 

Appreciation

 

03/07

 

386 U.S. Treasury Bond

 

 

Short

 

 

$

(44,111,213

)

$

(43,014,875

)

$

1,096,338

 

 

Interest Rate Swaps

At December 31, 2006, the Fund had entered into an interest rate swap agreement with Citigroup whereby the Fund makes bi-annual payments at a fixed rate equal to 3.925% on the notional amount of $9,550,000. In exchange, the Fund receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount. The effective date of the interest rate swap is August 16, 2007. The value of the contract, which terminates August 16, 2027, is recorded as a receivable for open swap contracts of $16,668, on December 31, 2006.

At December 31, 2006, the Fund had entered into an interest rate swap with Merrill Lynch Capital Services, Inc. whereby the Fund makes bi-annual payments at a fixed rate equal to 4.006% on the notional amount of $9,550,000. In exchange, the Fund receives bi-annual payments at a rate equal to the USD-BMA Municipal Swap Index on the same notional amount. The effective date of the interest rate swap is August 7, 2007. The value of the contract, which terminates August 7, 2037, is recorded as a receivable for open swap contracts of $33,883, on December 31, 2006.

At December 31, 2006, 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, 2006, as determined on a federal income tax basis, were as follows:

Aggregate cost

 

$

358,071,472

 

Gross unrealized appreciation

 

$

19,901,730

 

Gross unrealized depreciation

 

(149,821

)

Net unrealized appreciation

 

$

19,751,909

 

 

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

By:

 

/s/Cynthia J. Clemson

 

 

Cynthia J. Clemson

 

 

President and Principal Executive Officer

Date:

 

February 26, 2007

 

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

By:

 

/s/Cynthia J. Clemson

 

 

Cynthia J. Clemson

 

 

President and Principal Executive Officer

Date:

 

February 26, 2007

By:

 

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

 

Treasurer and Principal Financial Officer

Date:

 

February 26, 2007