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

 

811-21142

Eaton Vance Insured 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, 2005

 

 




Item 1. Schedule of Investments




Eaton Vance Insured Municipal Bond Fund                                                                           as of December 31, 2005

PORTFOLIO OF INVESTMENTS (Unaudited)

Tax-Exempt Investments — 159.1%

Principal
Amount
(000’s omitted)

 

Security

 

Value

 

General Obligations8.5%

 

 

 

$

15,175

 

California, 5.00%, 6/1/34

 

$

15,664,849

 

12,500

 

California, 5.25%, 4/1/30

 

13,295,625

 

3,750

 

California, 5.25%, 4/1/34

 

3,953,737

 

13,250

 

California, 5.50%, 11/1/33

 

14,511,532

 

19,500

 

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

 

20,536,230

 

15,000

 

Puerto Rico Public Buildings Authority, Commonwealth Guaranteed, 5.25%, 7/1/29

 

15,572,850

 

 

 

 

 

$

83,534,823

 

Hospital5.7%

 

 

 

8,000

 

Brevard County, FL, Health Facilities Authority, (Health First, Inc.), 5.00%, 4/1/36

 

8,066,480

 

11,000

 

California Health Facilities Financing Authority, (Cedars-Sinai Medical Center), 5.00%, 11/15/34

 

11,208,120

 

1,225

 

Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/25

 

1,230,721

 

2,900

 

Camden County, NJ, Improvement Authority, (Cooper Health System), 5.00%, 2/15/35

 

2,852,614

 

2,500

 

Camden County, NJ, Improvement Authority, (Cooper Health System), 5.25%, 2/15/27

 

2,551,625

 

6,200

 

Camden County, NJ, Improvement Authority, (Cooper Health System), 5.75%, 2/15/34

 

6,551,044

 

2,600

 

Cuyahoga County, OH, (Cleveland Clinic Health System), 5.50%, 1/1/29

 

2,757,222

 

3,900

 

Hawaii Department of Budget and Finance, (Hawaii Pacific Health), 5.60%, 7/1/33

 

4,069,923

 

5,525

 

Highlands County, FL, Health Facilities Authority, (Adventist Health System), 5.375%, 11/15/35

 

5,727,325

 

8,500

 

Lehigh County, PA, General Purpose Authority, (Lehigh Valley Health Network), 5.25%, 7/1/32

 

8,785,855

 

2,500

 

South Miami, FL, Health Facility Authority, (Baptist Health), 5.25%, 11/15/33

 

2,601,050

 

 

 

 

 

$

56,401,979

 

Industrial Development Revenue 2.0%

 

 

 

16,700

 

Liberty, NY, Development Corp., (Goldman Sachs Group, Inc.), 5.25%, 10/1/35

 

18,875,509

 

 

 

 

 

$

18,875,509

 

1




 

 

 

Insured-Electric Utilities16.4%

 

 

 

$

13,000

 

Burlington, KS, PCR, (Kansas Gas & Electric Co.), (MBIA), 5.30%, 6/1/31

 

$

13,910,650

 

21,355

 

Chelan County, WA, Public Utility District No. 1, (Columbia River), (MBIA), 0.00%, 6/1/27

 

7,508,418

 

9,000

 

Jacksonville Electric Authority, FL, Electric System Revenue, (FSA), 4.75%, 10/1/34

 

9,082,170

 

7,740

 

Maricopa County, AZ, Pollution Control Corp., (El Paso Electric Co.), (FGIC), 4.80%, 8/1/40

 

7,752,539

 

2,625

 

Municipal Energy Agency, NE, (Power Supply System), (FSA), 5.00%, 4/1/36

 

2,723,359

 

18,240

 

Nebraska, NE, Public Power District, (FGIC), 4.75%, 1/1/35

 

18,567,226

 

24,650

 

Omaha Public, NE, Power District, (FGIC), 4.25%, 2/1/35

 

23,405,914

 

10,300

 

Sabine River Authority, TX, (TXU Energy Co. LLC), Variable Rate, 5.20%, 5/1/28

 

10,386,108

 

60,755

 

South Carolina Public Service Authority, (FSA), 5.125%, 1/1/37

 

63,089,207

 

10,650

 

Southern Minnesota Municipal Power Agency, (MBIA), 0.00%, 1/1/22

 

5,232,984

 

 

 

 

 

$

161,658,575

 

Insured-General Obligations23.4%

 

 

 

3,975

 

Alvin, TX, Independent School District, (MBIA), 3.25%, 2/15/27

 

3,247,615

 

60,000

 

California, (XLCA), 5.00%, 10/1/28

 

61,779,000

 

15,530

 

Chicago, IL, Board of Education, (Chicago School Reform), (FGIC), 0.00%, 12/1/30

 

4,739,290

 

41,300

 

Chicago, IL, Board of Education, (Chicago School Reform), (FGIC), 0.00%, 12/1/21

 

19,960,290

 

10,000

 

Chicago, IL, Board of Education, (FGIC), 0.00%, 12/1/31

 

2,895,100

 

10,500

 

Chicago, IL, Board of Education, (FGIC), 0.00%, 12/1/29

 

3,360,630

 

11,790

 

Frisco, TX, Independent School District, (MBIA), 4.00%, 7/15/36

 

10,518,331

 

13,180

 

Georgia, (MBIA), 2.00%, 9/1/24

 

9,120,428

 

20,425

 

Kane, Cook and Du Page Counties, IL, School District No. 46, (AMBAC), 0.00%, 1/1/21

 

10,188,398

 

50,650

 

Kane, Cook and Du Page Counties, IL, School District No. 46, (AMBAC), 0.00%, 1/1/22

 

23,970,619

 

4,580

 

Navasota, TX, Independent School District, (FGIC), 4.50%, 8/15/30

 

4,516,017

 

13,000

 

Philadelphia, PA, School District, (FGIC), 5.25%, 6/1/34

 

13,859,430

 

8,925

 

Phoenix, AZ, (AMBAC), 3.00%, 7/1/28

 

7,016,032

 

2,700

 

Pima County, AZ, (FSA), 3.50%, 7/1/19

 

2,471,391

 

20,750

 

Schaumburg, IL, (FGIC), 5.00%, 12/1/38

 

21,404,455

 

21,300

 

Washington, (Motor Vehicle Fuel), (MBIA), 0.00%, 6/1/25

 

8,495,079

 

21,125

 

Washington, (Motor Vehicle Fuel), (MBIA), 0.00%, 6/1/26

 

7,987,785

 

2




 

 

 

$

21,070

 

Washington, (Motor Vehicle Fuel), (MBIA), 0.00%, 6/1/27

 

$

7,596,367

 

21,510

 

Washington, (Motor Vehicle Fuel), (MBIA), 0.00%, 6/1/28

 

7,378,145

 

 

 

 

 

$

230,504,402

 

Insured-Housing1.5%

 

 

 

14,170

 

Virginia Housing Development Authority, (MBIA), 5.375%, 7/1/36

 

14,615,221

 

 

 

 

 

$

14,615,221

 

Insured-Lease Revenue / Certificates of Participation5.7%

 

 

 

12,010

 

Anaheim, CA, Public Financing Authority Lease Revenue, (FSA), 5.00%, 3/1/37

 

12,223,658

 

42,795

 

San Jose, CA, Financing Authority, (Civic Center), (AMBAC), 5.00%, 6/1/37

 

43,948,753

 

 

 

 

 

$

56,172,411

 

Insured-Other Revenue3.4%

 

 

 

28,675

 

Golden Tobacco Securitization Corp., CA, (AGC), 5.00%, 6/1/45

 

29,421,410

 

4,000

 

Golden Tobacco Securitization Corp., CA, (FGIC), 5.00%, 6/1/38

 

4,147,360

 

 

 

 

 

$

33,568,770

 

Insured-Private Education2.7%

 

 

 

14,000

 

Massachusetts Development Finance Agency, (College of the Holy Cross), (AMBAC), 5.25%, 9/1/32

 

16,109,800

 

10,000

 

Massachusetts Development Finance Agency, (Franklin W. Olin College), (XLCA), 5.25%, 7/1/33

 

10,580,700

 

 

 

 

 

$

26,690,500

 

Insured-Public Education6.0%

 

 

 

14,215

 

California State University, (FGIC), 4.75%, 5/15/37

 

14,394,678

 

9,750

 

New Jersey Educational Facilities Authority, (Kean University), (MBIA), 4.50%, 7/1/37

 

9,657,570

 

8,000

 

University of California, (MBIA), 4.75%, 5/15/37

 

8,101,120

 

12,500

 

University of Massachusetts Building Authority, (AMBAC), 5.25%, 11/1/29

 

13,464,625

 

14,970

 

University of Vermont and State Agricultural College, (MBIA), 4.00%, 10/1/35

 

13,554,886

 

 

 

 

 

$

59,172,879

 

Insured-Sewer Revenue3.9%

 

 

 

13,670

 

Chicago, IL, Wastewater Transmission, (MBIA), 0.00%, 1/1/23

 

6,204,813

 

11,075

 

King County, WA, Sewer Revenue, (FGIC), 4.50%, 1/1/31

 

10,935,787

 

19,000

 

King County, WA, Sewer Revenue, (FGIC), 5.00%, 1/1/31

 

19,550,240

 

2,465

 

Passaic Valley, NJ, Sewer Commissioners, (FGIC), 2.50%, 12/1/32

 

1,710,883

 

 

 

 

 

$

38,401,723

 

3




 

 

 

Insured-Special Tax Revenue6.3%

 

 

 

$

10,000

 

Grand Forks, ND, Sales Tax Revenue, (Alerus Project), (MBIA), 4.50%, 12/15/29

 

$

9,992,500

 

18,980

 

Houston, TX, Hotel Occupancy Tax, (AMBAC), 0.00%, 9/1/24

 

7,955,657

 

10,000

 

Metropolitan Transportation Authority, NY, Dedicated Tax Fund, (MBIA), 5.00%, 11/15/30

 

10,402,700

 

17,200

 

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

 

17,354,456

 

6,050

 

Phoenix, AZ, Civic Improvement Corp., (Civic Plaza Expansion Project), (FGIC), 4.25%, 7/1/30

 

5,770,671

 

10,500

 

Reno, NV, Sales and Room Tax, (AMBAC), 5.125%, 6/1/37

 

10,885,665

 

 

 

 

 

$

62,361,649

 

Insured-Transportation43.7%

 

 

 

15,600

 

California Infrastructure and Economic Development, (Bay Area Toll Bridges), (AMBAC), 5.00%, 7/1/33

 

16,238,196

 

6,000

 

Central, TX, Regional Mobility Authority, (FGIC), 5.00%, 1/1/45

 

6,146,400

 

10,000

 

E-470 Public Highway Authority, CO, (MBIA), 0.00%, 9/1/24

 

4,177,900

 

17,000

 

E-470 Public Highway Authority, CO, (MBIA), 0.00%, 9/1/25

 

6,752,060

 

10,200

 

E-470 Public Highway Authority, CO, (MBIA), 0.00%, 9/1/21

 

4,971,072

 

20,000

 

E-470 Public Highway Authority, CO, (MBIA), 0.00%, 9/1/24

 

8,314,600

 

5,240

 

Florida Department of Transportation, (Turnpike Revenue), (FSA), 4.50%, 7/1/34

 

5,190,115

 

20,450

 

Massachusetts Bay Transportation Authority, Revenue Assessment, (MBIA), 4.00%, 7/1/33

 

18,472,281

 

34,915

 

Massachusetts Turnpike Authority, Metropolitan Highway System, (AMBAC), 5.00%, 1/1/39

 

35,404,857

 

9,985

 

Massachusetts Turnpike Authority, Metropolitan Highway System, (MBIA), 5.125%, 1/1/37

 

10,316,302

 

20,000

 

Nevada Department of Business and Industry, (Las Vegas Monorail -1st Tier), (AMBAC), 5.375%, 1/1/40

 

20,962,600

 

10,070

 

Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 0.00%, 1/1/23

 

4,465,743

 

3,100

 

Nevada Department of Business and Industry, (Las Vegas Monorail), (AMBAC), 0.00%, 1/1/28

 

1,070,337

 

16,500

 

New York Thruway Authority, (FSA), 4.75%, 1/1/30

 

16,873,725

 

13,700

 

Newark, NJ, Housing Authority, (Newark Marine Terminal), (MBIA), 5.00%, 1/1/37

 

14,211,969

 

6,500

 

North Texas Tollway Authority, (FSA), 4.50%, 1/1/38

 

6,322,615

 

24,665

 

Northwest Parkway Public Highway Authority, CO, (FSA), 5.25%, 6/15/41

 

26,133,061

 

3,370

 

Pima County, AZ, (MBIA), 3.50%, 7/1/19

 

3,097,637

 

15,795

 

Puerto Rico Highway and Transportation Authority, (CIFG), 5.25%, 7/1/41

 

17,839,347

 

4




 

 

 

$

75,000

 

San Joaquin Hills, CA, Transportation Corridor Agency, (MBIA), 0.00%, 1/15/31

 

$

22,833,000

 

45,020

 

San Joaquin Hills, CA, Transportation Corridor Agency, (MBIA), 0.00%, 1/15/26

 

17,612,274

 

119,000

 

San Joaquin Hills, CA, Transportation Corridor Agency, (MBIA), 0.00%, 1/15/34

 

30,991,170

 

87,045

 

San Joaquin Hills, CA, Transportation Corridor Agency, (Toll Road Bonds), (MBIA), 0.00%, 1/15/25

 

35,872,115

 

10,695

 

Tampa-Hillsborough County, FL, Expressway Authority, (AMBAC), 4.00%, 7/1/34

 

9,589,244

 

40,165

 

Texas Turnpike Authority, (AMBAC), 0.00%, 8/15/20

 

20,712,287

 

64,900

 

Texas Turnpike Authority, (AMBAC), 5.00%, 8/15/42

 

66,420,607

 

 

 

 

 

$

430,991,514

 

Insured-Utilities8.0%

 

 

 

5,000

 

Illinois Development Finance Authority, (Peoples Gas, Light and Coke), (AMBAC), 5.00%, 2/1/33

 

5,145,450

 

61,585

 

Los Angeles, CA, Department of Water and Power, (FGIC), 5.00%, 7/1/43

 

63,241,637

 

10,000

 

West Palm Beach, FL, Utility System, (FGIC), 5.00%, 10/1/34

 

10,442,400

 

 

 

 

 

$

78,829,487

 

Insured-Water and Sewer7.8%

 

 

 

25,885

 

Atlanta, GA, Water and Wastewater, (MBIA), 5.00%, 11/1/39 (1)

 

26,521,253

 

20,935

 

Birmingham, AL, Waterworks and Sewer Board, (MBIA), 5.00%, 1/1/37

 

21,665,841

 

8,675

 

New York City, NY, Municipal Water Finance Authority, (Water and Sewer System), (AMBAC), 4.50%, 6/15/29

 

8,722,539

 

925

 

New York City, NY, Municipal Water Finance Authority, (Water and Sewer System), (FSA), 4.50%, 6/15/29

 

930,300

 

8,500

 

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

 

8,868,220

 

9,500

 

Palm Coast, FL, Utility System, (MBIA), 5.00%, 10/1/33

 

9,860,905

 

 

 

 

 

$

76,569,058

 

Insured-Water Revenue2.6%

 

 

 

8,930

 

Albany, OR, Water, (FGIC), 5.00%, 8/1/33

 

9,292,558

 

3,250

 

Baltimore, MD, (Water Projects), (FGIC), 5.125%, 7/1/42

 

3,384,778

 

1,000

 

Detroit, MI, Water Supply System, (FGIC), 4.50%, 7/1/31

 

988,780

 

5,000

 

Metropolitan Water District, CA, (FGIC), 5.00%, 10/1/33

 

5,209,950

 

6,000

 

Metropolitan Water District, CA, (FGIC), 5.00%, 10/1/36

 

6,248,700

 

700

 

Metropolitan Water District, CA, (MBIA), 5.00%, 7/1/37

 

714,588

 

 

 

 

 

$

25,839,354

 

Other Revenue5.1%

 

 

 

49,500

 

Golden Tobacco Securitization Corp., CA, 5.00%, 6/1/45

 

49,923,720

 

 

 

 

 

$

49,923,720

 

5




 

 

 

Special Tax Revenue1.5%

 

 

 

$

4,600

 

New Jersey EDA, (Cigarette Tax), 5.50%, 6/15/24

 

$

4,811,968

 

1,750

 

New Jersey EDA, (Cigarette Tax), 5.50%, 6/15/31

 

1,813,980

 

2,405

 

New Jersey EDA, (Cigarette Tax), 5.75%, 6/15/29

 

2,545,957

 

5,110

 

New Jersey EDA, (Cigarette Tax), 5.75%, 6/15/34

 

5,384,203

 

 

 

 

 

$

14,556,108

 

Transportation4.9%

 

 

 

8,000

 

Metropolitan Transportation Authority, NY, 5.00%, 11/15/35

 

8,312,480

 

39,960

 

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

 

40,330,030

 

 

 

 

 

$

48,642,510

 

Total Tax-Exempt Investments159.1%
(identified cost $1,493,336,961)

 

$

1,567,310,192

 

Other Assets, Less Liabilities1.0%

 

$

10,298,799

 

Auction Preferred Shares Plus Cumulative Unpaid Dividends(60.1)%

 

$

(592,566,163

)

Net Assets Applicable to Common Shares100.0%

 

$

985,042,828

 

 

AGC

Assured Guaranty Corp.

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 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, 2005, 82.0% 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 1.1% to 25.4% 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, 2005 is as follows:

Futures Contracts

Expiration
Date

 

Contracts

 

Position

 

Aggregate
Cost

 

Value

 

Net
Unrealized
Depreciation

 

03/06

 

3,870 U.S. Treasury Bond

 

 

Short

 

 

$

(436,159,209

)

$

(441,905,625

)

$

(5,746,416

)

 

6




 

 

At December 31, 2005, 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, 2005, as computed on a federal income tax basis, were as follows:

Aggregate cost

 

$

1,492,360,381

 

Gross unrealized appreciation

 

$

75,622,397

 

Gross unrealized depreciation

 

(672,586

)

Net unrealized appreciation

 

$

74,949,811

 

 

7




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 Municipal Bond Fund

By:

 

/s/ Robert B. MacIntosh

 

 

Robert B. MacIntosh

 

 

President and Principal Executive Officer

Date:

 

February 23, 2006

 

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/ Robert B. MacIntosh

 

 

Robert B. MacIntosh

 

 

President and Principal Executive Officer

Date:

 

February 23, 2006

By:

 

/s/ Barbara E. Campbell

 

 

Barbara E. Campbell

 

 

Treasurer and Principal Financial Officer

Date:

 

February 23, 2006