# EDGAR Filing Document

**Accession Number:** 0000778365
**File Stem:** 0001410368-25-043552
**Filing Date:** 2025-12
**Character Count:** 65559
**Document Hash:** 60646382b2476b99bee4544d341a9725
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043552.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043552

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Eaton Vance Municipals Trust
- **CENTRAL INDEX KEY:** 0000778365

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04409
- **FILM NUMBER:** 251607282

**BUSINESS ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 617-482-8260

**MAIL ADDRESS:**
- **STREET 1:** ONE POST OFFICE SQUARE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EATON VANCE HIGH YIELD MUNICIPALS TRUST
- **DATE OF NAME CHANGE:** 19910203

## Series and Classes Contracts Data

### Eaton Vance New Jersey Municipal Income Fund (Series ID: S000004847)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000013127 | Eaton Vance New Jersey Municipal Income Fund Class A | ETNJX           |
| C000013129 | Eaton Vance New Jersey Municipal Income Fund Class C | ECNJX           |
| C000063948 | Eaton Vance New Jersey Municipal Income Fund Class I | EINJX           |

## Nport-Ex

Eaton Vance<br>

New Jersey Municipal Income Fund

October 31, 2025

Portfolio of Investments (Unaudited)

------

Tax-Exempt Municipal Obligations — 96.7%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Education — 7.4% | Education — 7.4% | Education — 7.4% |
| Essex County Improvement Authority, NJ, (North Star Academy Charter School of Newark, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/40<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;$381745 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/54<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 499848 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/64<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;&nbsp; 761726 |
| New Jersey Economic Development Authority, (Central Jersey College Prep Charter School): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 11/1/45<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 675534 |
| &nbsp;&nbsp;&nbsp;5.125%, 11/1/55<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;710 | &nbsp;&nbsp;&nbsp;&nbsp; 695307 |
| New Jersey Educational Facilities Authority, (Institute for Advanced Study), (SPA: TD Bank, N.A.), 3.20%, 7/1/31<sup>(3)</sup> | 2950 | &nbsp;&nbsp;&nbsp;&nbsp; 2950000 |
| New Jersey Educational Facilities Authority, (Princeton University), 2.00%, 3/1/38 | 3565 | &nbsp;&nbsp;&nbsp;&nbsp; 2886590 |
| Passaic County Improvement Authority, NJ, (Paterson Charter School for Science and Technology, Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;&nbsp;&nbsp; 720262 |
| &nbsp;&nbsp;&nbsp;4.50%, 7/1/40 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1006661 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 504946 |
|  |  | &nbsp;&nbsp;**$11082619** |
| General Obligations — 14.5% | General Obligations — 14.5% | General Obligations — 14.5% |
| Cherry Hill Township School District, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 8/1/40 | $1855 | &nbsp;&nbsp;$1878770 |
| &nbsp;&nbsp;&nbsp;4.00%, 8/1/42 | 2760 | &nbsp;&nbsp;&nbsp;&nbsp; 2771625 |
| Elizabeth, NJ, 4.00%, 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;95 | &nbsp;&nbsp;&nbsp;&nbsp; 96986 |
| Freehold Township Board Of Education, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 8/15/42 | 1950 | &nbsp;&nbsp;&nbsp;&nbsp; 1973731 |
| &nbsp;&nbsp;&nbsp;4.25%, 8/15/44 | 2830 | &nbsp;&nbsp;&nbsp;&nbsp; 2868633 |
| Jersey City, NJ, 4.00%, 10/1/32 | 2745 | &nbsp;&nbsp;&nbsp;&nbsp; 2962488 |
| Lawrence Township School District, NJ, 4.25%, 8/1/44 | 2310 | &nbsp;&nbsp;&nbsp;&nbsp; 2330227 |
| Manalapan-Englishtown Regional Board Of Education, NJ, 4.00%, 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp;575 | &nbsp;&nbsp;&nbsp;&nbsp; 577613 |
| North Brunswick Township Board of Education, NJ, 4.00%, 5/15/42 | 3850 | &nbsp;&nbsp;&nbsp;&nbsp; 3921773 |
| Passaic County Improvement Authority, NJ, (Senior Housing), 4.125%, 11/1/56 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 733750 |
| Puerto Rico, 5.625%, 7/1/29 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1068320 |
| Summit, NJ, 3.00%, 7/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 41985 |
| Woolwich Township, NJ, 4.125%, 5/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;&nbsp;&nbsp; 297421 |
|  |  | &nbsp;&nbsp;**$21523322** |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Hospital — 10.6% | Hospital — 10.6% | Hospital — 10.6% |
| New Jersey Health Care Facilities Financing Authority, (AHS Hospital Corp.), 5.00%, 7/1/27 | $&nbsp;&nbsp;&nbsp;&nbsp;65 | &nbsp;&nbsp;$65058 |
| New Jersey Health Care Facilities Financing Authority, (Inspira Health Obligated Group): |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 7/1/54 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2301267 |
| &nbsp;&nbsp;&nbsp;5.25%, 7/1/54 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061229 |
| New Jersey Health Care Facilities Financing Authority, (RWJ Barnabas Health), 4.25%, 7/1/54 | 3400 | &nbsp;&nbsp;&nbsp;&nbsp; 3284105 |
| New Jersey Health Care Facilities Financing Authority, (St. Joseph's Healthcare System Obligated Group): |  |  |
| &nbsp;&nbsp;&nbsp;3.00%, 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp;850 | &nbsp;&nbsp;&nbsp;&nbsp; 794920 |
| &nbsp;&nbsp;&nbsp;3.125%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;825 | &nbsp;&nbsp;&nbsp;&nbsp; 768042 |
| &nbsp;&nbsp;&nbsp;4.00%, 7/1/48 | 2820 | &nbsp;&nbsp;&nbsp;&nbsp; 2456610 |
| New Jersey Health Care Facilities Financing Authority, (Virtua Health): |  |  |
| &nbsp;&nbsp;&nbsp;(LOC: JPMorgan Chase Bank, N.A.), 2.55%, 7/1/43<sup>(4)</sup> | 4715 | &nbsp;&nbsp;&nbsp;&nbsp; 4715000 |
| &nbsp;&nbsp;&nbsp;(LOC: TD Bank, N.A.), 2.72%, 7/1/43<sup>(3)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;400 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 |
|  |  | &nbsp;&nbsp;**$15846231** |
| Housing — 4.9% | Housing — 4.9% | Housing — 4.9% |
| New Jersey Housing and Mortgage Finance Agency: |  |  |
| &nbsp;&nbsp;&nbsp;Social Bonds, 4.75%, 10/1/40 | $2000 | &nbsp;&nbsp;$2081453 |
| &nbsp;&nbsp;&nbsp;Sustainability Bonds, (FHLMC), (FNMA), (GNMA), 4.85%, 11/1/40 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2088029 |
| New Jersey Housing and Mortgage Finance Agency, (Montgomery Gateway Apartments), (FNMA), 4.55%, 5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;995 | &nbsp;&nbsp;&nbsp;&nbsp; 1045923 |
| New Jersey Housing and Mortgage Finance Agency, SFMR, Social Bonds, 4.50%, 10/1/42 | 1975 | &nbsp;&nbsp;&nbsp;&nbsp; 2009518 |
|  |  | &nbsp;&nbsp;**$7224923** |
| Industrial Development Revenue — 5.7% | Industrial Development Revenue — 5.7% | Industrial Development Revenue — 5.7% |
| New Jersey Economic Development Authority, (Middlesex Water Co.), (AMT), 5.00%, 8/1/59 | $3025 | &nbsp;&nbsp;$3079360 |
| New Jersey Economic Development Authority, (New Jersey-American Water Co., Inc.): |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 1.10% to 12/1/27 (Put Date), 11/1/29 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1872360 |
| &nbsp;&nbsp;&nbsp;(AMT), 3.75% to 6/1/28 (Put Date), 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 759453 |
| New Jersey Economic Development Authority, (New Jersey Natural Gas Co.), 3.375%, 4/1/38 | 3000 | &nbsp;&nbsp;&nbsp;&nbsp; 2777679 |
|  |  | &nbsp;&nbsp;**$8488852** |
| Insured - Education — 3.6% | Insured - Education — 3.6% | Insured - Education — 3.6% |
| Gloucester County Improvement Authority, NJ, (Rowan University), (BAM), 5.00%, 7/1/49 | $3000 | &nbsp;&nbsp;$3142378 |

---

------

Eaton Vance<br>

New Jersey Municipal Income Fund

October 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Education (continued) | Insured - Education (continued) | Insured - Education (continued) |
| New Jersey Educational Facilities Authority, (Montclair State University), (AG), 5.00%, 7/1/42 | $1000 | &nbsp;&nbsp;$1088782 |
| New Jersey Institute of Technology, (BAM), 5.00%, 7/1/45 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1082264 |
|  |  | &nbsp;&nbsp;**$5313424** |
| Insured - Electric Utilities — 2.0% | Insured - Electric Utilities — 2.0% | Insured - Electric Utilities — 2.0% |
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/34 | $3020 | &nbsp;&nbsp;$3050960 |
|  |  | &nbsp;&nbsp;**$3050960** |
| Insured - Escrowed/Prerefunded — 0.3% | Insured - Escrowed/Prerefunded — 0.3% | Insured - Escrowed/Prerefunded — 0.3% |
| New Jersey Economic Development Authority, (Motor Vehicle Surcharges), (NPFG), Escrowed to Maturity, 5.25%, 7/1/26 | $&nbsp;&nbsp;&nbsp;&nbsp;380 | &nbsp;&nbsp;$386012 |
|  |  | &nbsp;&nbsp;**$386012** |
| Insured - General Obligations — 3.5% | Insured - General Obligations — 3.5% | Insured - General Obligations — 3.5% |
| Paramus, NJ, (AG), 2.00%, 10/1/36 | $1910 | &nbsp;&nbsp;$1626235 |
| Paterson, NJ, (BAM), 5.00%, 1/15/26 | 1305 | &nbsp;&nbsp;&nbsp;&nbsp; 1306960 |
| Willingboro Township School District, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 4.125%, 8/15/42 | 1250 | &nbsp;&nbsp;&nbsp;&nbsp; 1268068 |
| &nbsp;&nbsp;&nbsp;(AG), 4.25%, 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp;975 | &nbsp;&nbsp;&nbsp;&nbsp; 982473 |
|  |  | &nbsp;&nbsp;**$5183736** |
| Insured - Special Tax Revenue — 9.5% | Insured - Special Tax Revenue — 9.5% | Insured - Special Tax Revenue — 9.5% |
| Casino Reinvestment Development Authority, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 4.00%, 11/1/44 | $1500 | &nbsp;&nbsp;$1426451 |
| &nbsp;&nbsp;&nbsp;(AG), 5.00%, 11/1/42 | 1700 | &nbsp;&nbsp;&nbsp;&nbsp; 1817475 |
| New Jersey Economic Development Authority, (Motor Vehicle Surcharges): |  |  |
| &nbsp;&nbsp;&nbsp;(AG), 0.00%, 7/1/26 | 6500 | &nbsp;&nbsp;&nbsp;&nbsp; 6356248 |
| &nbsp;&nbsp;&nbsp;(AG), 0.00%, 7/1/27 | 1900 | &nbsp;&nbsp;&nbsp;&nbsp; 1798145 |
| &nbsp;&nbsp;&nbsp;(NPFG), 5.25%, 7/1/26 | 1620 | &nbsp;&nbsp;&nbsp;&nbsp; 1640701 |
| Newark, NJ, (Mulberry Pedestrian Bridge Redevelopment), (AG), 5.00%, 11/15/42 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1083678 |
|  |  | &nbsp;&nbsp;**$14122698** |
| Insured - Transportation — 1.4% | Insured - Transportation — 1.4% | Insured - Transportation — 1.4% |
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AG), (AMT), 5.00%, 1/1/31 | $2015 | &nbsp;&nbsp;$2018816 |
|  |  | &nbsp;&nbsp;**$2018816** |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Water and Sewer — 0.2% | Insured - Water and Sewer — 0.2% | Insured - Water and Sewer — 0.2% |
| Passaic Valley Water Commission, NJ, Water Supply System Revenue, (AG), 4.00%, 12/1/53 | $&nbsp;&nbsp;&nbsp;&nbsp;310 | &nbsp;&nbsp;$300194 |
|  |  | &nbsp;&nbsp;**$300194** |
| Lease Revenue/Certificates of Participation — 9.2% | Lease Revenue/Certificates of Participation — 9.2% | Lease Revenue/Certificates of Participation — 9.2% |
| New Jersey Economic Development Authority, (Portal North Bridge), 5.25%, 11/1/47 | $1700 | &nbsp;&nbsp;$1798057 |
| New Jersey Transportation Trust Fund Authority, (Transportation Program): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 6/15/39 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1013034 |
| &nbsp;&nbsp;&nbsp;4.125%, 6/15/50 | 2500 | &nbsp;&nbsp;&nbsp;&nbsp; 2331495 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/41 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1094399 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/42 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1095163 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/46 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1576340 |
| &nbsp;&nbsp;&nbsp;5.00%, 6/15/50 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1567669 |
| &nbsp;&nbsp;&nbsp;5.25%, 6/15/50 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2140155 |
| &nbsp;&nbsp;&nbsp;2023 Series AA, 5.00%, 6/15/38 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1111420 |
|  |  | &nbsp;&nbsp;**$13727732** |
| Other Revenue — 2.7% | Other Revenue — 2.7% | Other Revenue — 2.7% |
| Tobacco Settlement Financing Corp., NJ, 5.25%, 6/1/46 | $3965 | &nbsp;&nbsp;$3976179 |
|  |  | &nbsp;&nbsp;**$3976179** |
| Special Tax Revenue — 1.4% | Special Tax Revenue — 1.4% | Special Tax Revenue — 1.4% |
| American Samoa Economic Development Authority, 5.00%, 9/1/38<sup>(1)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;$203886 |
| Puerto Rico Sales Tax Financing Corp., 5.00%, 7/1/58 | 1995 | &nbsp;&nbsp;&nbsp;&nbsp; 1941207 |
|  |  | &nbsp;&nbsp;**$2145093** |
| Student Loan — 2.6% | Student Loan — 2.6% | Student Loan — 2.6% |
| New Jersey Higher Education Student Assistance Authority: |  |  |
| &nbsp;&nbsp;&nbsp;5.567%, (90-day SOFR Average + 0. 95%), 6/1/36<sup>(5)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;595 | &nbsp;&nbsp;$595997 |
| &nbsp;&nbsp;&nbsp;(AMT), 4.00%, 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;100 | &nbsp;&nbsp;&nbsp;&nbsp; 99976 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 12/1/28 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1049323 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.25%, 12/1/54 | 2080 | &nbsp;&nbsp;&nbsp;&nbsp; 2096975 |
|  |  | &nbsp;&nbsp;**$3842271** |
| Transportation — 16.3% | Transportation — 16.3% | Transportation — 16.3% |
| Delaware River and Bay Authority of Delaware and New Jersey: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 1/1/44 | $1005 | &nbsp;&nbsp;$992200 |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/49 | 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1196600 |
| Delaware River Port Authority of Pennsylvania and New Jersey, 5.00%, 1/1/39 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1133976 |

---

------

Eaton Vance<br>

New Jersey Municipal Income Fund

October 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Transportation (continued) | Transportation (continued) | Transportation (continued) |
| New Jersey Economic Development Authority, (The Goethals Bridge Replacement), (AMT), 5.375%, 1/1/43 | $&nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;$275248 |
| New Jersey Turnpike Authority: |  |  |
| &nbsp;&nbsp;&nbsp;4.125%, 1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;765 | &nbsp;&nbsp;&nbsp;&nbsp; 733166 |
| &nbsp;&nbsp;&nbsp;4.50%, 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;320 | &nbsp;&nbsp;&nbsp;&nbsp; 324503 |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/43 | 1390 | &nbsp;&nbsp;&nbsp;&nbsp; 1499250 |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/44 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1072963 |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/45 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1618236 |
| &nbsp;&nbsp;&nbsp;5.00%, 1/1/45 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1602897 |
| &nbsp;&nbsp;&nbsp;5.25%, 1/1/49 | 1145 | &nbsp;&nbsp;&nbsp;&nbsp; 1228532 |
| Port Authority of New York and New Jersey: |  |  |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 11/15/36 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2024854 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 8/1/37 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1078803 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 7/15/39 | 1375 | &nbsp;&nbsp;&nbsp;&nbsp; 1478846 |
| &nbsp;&nbsp;&nbsp;(AMT), 5.00%, 1/15/47 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1031241 |
| South Jersey Port Corp., NJ, (AMT), 5.00%, 1/1/48 | 3625 | &nbsp;&nbsp;&nbsp;&nbsp; 3635449 |
| South Jersey Transportation Authority, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 11/1/50 | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 1823425 |
| &nbsp;&nbsp;&nbsp;4.625%, 11/1/47 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1520420 |
|  |  | &nbsp;&nbsp;**$24270609** |
| Water and Sewer — 0.9% | Water and Sewer — 0.9% | Water and Sewer — 0.9% |
| New York City Municipal Water Finance Authority, NY, (Water and Sewer System), 4.00%, 6/15/54 | $1460 | &nbsp;&nbsp;$1350225 |
|  |  | &nbsp;&nbsp;**$1350225** |
| Total Tax-Exempt Municipal Obligations<br> (identified cost $141,985,750) |  | &nbsp;&nbsp;**$143853896** |

---

Taxable Municipal Obligations — 1.8%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations — 1.8% | General Obligations — 1.8% | General Obligations — 1.8% |
| Atlantic City, NJ, 7.50%, 3/1/40 | $&nbsp;&nbsp;&nbsp;&nbsp;455 | &nbsp;&nbsp;$523457 |
| Monroe Township Board of Education, NJ: |  |  |
| &nbsp;&nbsp;&nbsp;1.126%, 3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;560 | &nbsp;&nbsp;&nbsp;&nbsp; 554998 |
| &nbsp;&nbsp;&nbsp;1.357%, 3/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 483792 |
| &nbsp;&nbsp;&nbsp;1.547%, 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 474349 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations (continued) | General Obligations (continued) | General Obligations (continued) |
| Monroe Township Board of Education, NJ: (continued) |  |  |
| &nbsp;&nbsp;&nbsp;2.729%, 8/1/33 | $&nbsp;&nbsp;&nbsp;&nbsp;700 | &nbsp;&nbsp;$625325 |
| Total Taxable Municipal Obligations<br> (identified cost $2,764,097) |  | &nbsp;&nbsp;**$2661921** |
| Total Investments — 98.5%<br> (identified cost $144,749,847) |  | &nbsp;&nbsp;**$146515817** |
| Other Assets, Less Liabilities — 1.5% |  | &nbsp;&nbsp;**$2188405** |
| Net Assets — 100.0% |  | &nbsp;&nbsp;**$148704222** |

---

---

| | |
|:---|:---|
| The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | The percentage shown for each investment category in the Portfolio of Investments is based on net assets. |
| <sup>(1)</sup> | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At October 31, 2025, the aggregate value of these securities is $1,847,205 or 1.2% of the Fund's net assets. |
| <sup>(2)</sup> | When-issued security. |
| <sup>(3)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the lesser of 5 business days or 7 calendar days. The stated interest rate, which generally resets weekly, is determined by the remarketing agent and represents the rate in effect at October 31, 2025. |
| <sup>(4)</sup> | Variable rate demand obligation that may be tendered at par on any day for payment the same or next business day. The stated interest rate, which generally resets daily, is determined by the remarketing agent and represents the rate in effect at October 31, 2025. |
| <sup>(5)</sup> | Floating rate security. The stated interest rate represents the rate in effect at October 31, 2025. |
| The Fund 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. At October 31, 2025, 20.7% 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 3.5% to 13.5% of total investments. | The Fund 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. At October 31, 2025, 20.7% 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 3.5% to 13.5% of total investments. |

---

------

Eaton Vance<br>

New Jersey Municipal Income Fund

October 31, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | |
|:---|:---|
| **Abbreviations:** | **Abbreviations:** |
| AG | – Assured Guaranty, 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. |
| FHLMC | – Federal Home Loan Mortgage Corp. |
| FNMA | – Federal National Mortgage Association |
| GNMA | – Government National Mortgage Association |
| LOC | – Letter of Credit |
| NPFG | – National Public Finance Guarantee Corp. |
| SFMR | – Single Family Mortgage Revenue |
| SOFR | – Secured Overnight Financing Rate |
| SPA | – Standby Bond Purchase Agreement |

---

The Fund did not have any open derivative instruments at October 31, 2025.

Fair Value Measurements

Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments)

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At October 31, 2025, the hierarchy of inputs used in valuing the Fund's investments, which are carried at fair value, were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Asset Description** | &nbsp;&nbsp;**Level 1** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 2** | &nbsp;&nbsp;&nbsp;&nbsp;**Level 3** | &nbsp;&nbsp;&nbsp;&nbsp;**Total** |
| Tax-Exempt Municipal Obligations | &nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$143853896 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$143853896 |
| Taxable Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2661921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2661921 |
| **Total Investments** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$146515817** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$146515817** |

---

For information on the Fund's policy regarding the valuation of investments and other significant accounting policies, please refer to the Fund's most recent annual or semi-annual financial statements.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Eaton Vance Municipals Trust

- **b. Investment Company Act file number:** 811-04409

- **c. CIK number of Registrant:** 0000778365

- **d. LEI of Registrant:** 549300URENTSNA53MO13

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** One Post Office Square

  - **City:** BOSTON

  - **State:** MA

  - **Foreign country:** US

  - **Zip / Postal Code:** 02109

  - **Telephone number:** 617-482-8260

**Item A.2. Information about the Series.**

- **a. Name of Series:** Eaton Vance New Jersey Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000004847

- **c. LEI of Series:** 549300WUDO1VOY5YBY29

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $149010561.58

**Total Liabilities:** $596508.88

**Net Assets:** $148414052.70

**Cash Not Reported:** $2039486.18

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -406.66000000 | **1-Year:** -4614.92000000 | **5-Year:** -19637.41000000 | **10-Year:** -57061.26000000 | **30-Year:** -18680.31000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -7.55000000 | **1-Year:** -350.66000000 | **5-Year:** -1241.37000000 | **10-Year:** -2007.57000000 | **30-Year:** -561.18000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013127 | 0.89%                | 3.19%                | 1.44%                |
| Class ID C000013129 | 0.81%                | 3.12%                | 1.44%                |
| Class ID C000063948 | 0.91%                | 3.20%                | 1.46%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-406541.16              | $1307108.75                                |
| Month 2  | $94716.83                | $3969736.51                                |
| Month 3  | $102817.24               | $1589625.85                                |

**Designated Index Information**

- **Index Name:** BB Barclays Municipal Bd

- **Index Identifier:** MBINDEX

### Schedule of Portfolio Investments

| Name                                                     | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| American Samoa Economic Development Authority            | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                | CUSIP: 02936TAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $203885.82    | 0.14%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Atlantic City NJ                                 | ATLANTIC CITY NJ                                           | CUSIP: 048339UH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $523457.39    | 0.35%             | 2040-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Casino Reinvestment Development Authority Inc            | CASINO REINVESTMENT DEV AUTH NJ LUXURY TAX REVENUE         | CUSIP: 14760RBR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1817474.42   | 1.22%             | 2042-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Casino Reinvestment Development Authority Inc            | CASINO REINVESTMENT DEV AUTH NJ LUXURY TAX REVENUE         | CUSIP: 14760RBS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1426450.65   | 0.96%             | 2044-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cherry Hill Township School District                     | CHERRY HILL TWP NJ SCH DIST                                | CUSIP: 164681MG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1855000 | PA      | $1878770.16   | 1.27%             | 2040-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Cherry Hill Township School District                     | CHERRY HILL TWP NJ SCH DIST                                | CUSIP: 164681MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2760000 | PA      | $2771625.12   | 1.87%             | 2042-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Delaware River & Bay Authority                           | DELAWARE RIVER & BAY AUTH DE REVENUE                       | CUSIP: 246317GV7<br>LEI: 549300DIIIT0MBXYHJ34 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $992200.22    | 0.67%             | 2044-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Delaware River & Bay Authority                           | DELAWARE RIVER & BAY AUTH DE REVENUE                       | CUSIP: 246317KC4<br>LEI: 549300DIIIT0MBXYHJ34 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1196599.50   | 0.81%             | 2049-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Delaware River Port Authority                            | DELAWARE RIVER PORT AUTH PA & NJ                           | CUSIP: 246352JJ8<br>LEI: 549300OBM31KJO8JR048 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1133975.80   | 0.76%             | 2039-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Elizabeth NJ                                     | ELIZABETH NJ                                               | CUSIP: 286678HD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $96986.12     | 0.07%             | 2040-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Essex County Improvement Authority                       | ESSEX CNTY NJ IMPT AUTH CHRT SCH REVENUE                   | CUSIP: 29681CBJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $381744.69    | 0.26%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Essex County Improvement Authority                       | ESSEX CNTY NJ IMPT AUTH CHRT SCH REVENUE                   | CUSIP: 29681CBK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $499847.85    | 0.34%             | 2054-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Essex County Improvement Authority                       | ESSEX CNTY NJ IMPT AUTH CHRT SCH REVENUE                   | CUSIP: 29681CBL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $761725.88    | 0.51%             | 2064-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freehold Township Board Of Education                     | FREEHOLD TWP NJ BRD OF EDU                                 | CUSIP: 356514PM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1973731.31   | 1.33%             | 2042-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freehold Township Board Of Education                     | FREEHOLD TWP NJ BRD OF EDU                                 | CUSIP: 356514PP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2830000 | PA      | $2868632.61   | 1.93%             | 2044-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Gloucester County Improvement Authority/The              | GLOUCESTER CNTY NJ IMPT AUTH                               | CUSIP: 37970PLV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3142377.60   | 2.12%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Jersey City NJ                                   | JERSEY CITY NJ                                             | CUSIP: 476576WD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2745000 | PA      | $2962487.72   | 2.00%             | 2032-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lawrence Township School District/Mercer County          | LAWRENCE TWP NJ SCH DIST                                   | CUSIP: 520390MY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2310000 | PA      | $2330226.82   | 1.57%             | 2044-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Manalapan-Englishtown Regional Board Of Education        | MANALAPAN-ENGLISHTOWN NJ REGLBRD OF EDU                    | CUSIP: 561722LM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $577613.20    | 0.39%             | 2043-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Monroe Township Board of Education/Middlesex County      | MONROE TWP NJ BRD OF EDU MIDDLESEX CNTY                    | CUSIP: 611305NA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $625325.33    | 0.42%             | 2033-08-01      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| Monroe Township Board of Education/Gloucester County     | MONROE TWP NJ BRD OF EDU GLOUCESTER CNTY                   | CUSIP: 611322JA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $554997.86    | 0.37%             | 2026-03-01      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| Monroe Township Board of Education/Gloucester County     | MONROE TWP NJ BRD OF EDU GLOUCESTER CNTY                   | CUSIP: 611322JB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483791.65    | 0.33%             | 2027-03-01      | Fixed         | 1.36%                 | No            |                  2 | On Loan: No      |
| Monroe Township Board of Education/Gloucester County     | MONROE TWP NJ BRD OF EDU GLOUCESTER CNTY                   | CUSIP: 611322JC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $474348.70    | 0.32%             | 2028-03-01      | Fixed         | 1.55%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH                                | CUSIP: 645779CC1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2777679.30   | 1.87%             | 2038-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH REVENUE                        | CUSIP: 64577BH98<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    380000 | PA      | $386012.25    | 0.26%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH REVENUE                        | CUSIP: 64577BJ39<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1640701.33   | 1.11%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH REV                            | CUSIP: 64577XED4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1798056.85   | 1.21%             | 2047-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH WTR FACS REVENUE               | CUSIP: 645780FJ1<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   3025000 | PA      | $3079359.86   | 2.07%             | 2059-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH WTR FACS REVENUE               | CUSIP: 645780FR3<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1872359.60   | 1.26%             | 2029-11-01      | Floating      | 1.10%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH WTR FACS REVENUE               | CUSIP: 645780FT9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    750000 | PA      | $759453.00    | 0.51%             | 2034-11-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH MTR VEHCL SURCHARGE REVENUE    | CUSIP: 64578JAR7<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   6500000 | PA      | $6356247.95   | 4.28%             | 2026-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH MTR VEHCL SURCHARGE REVENUE    | CUSIP: 64578JAS5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1798145.18   | 1.21%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790BV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $794920.43    | 0.54%             | 2032-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790BW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $768041.51    | 0.52%             | 2033-07-01      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790CB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2820000 | PA      | $2456609.72   | 1.66%             | 2048-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790ED4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     65000 | PA      | $65058.27     | 0.04%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790TL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3284105.22   | 2.21%             | 2054-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790UQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061229.30   | 0.72%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 645790UR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2301266.75   | 1.55%             | 2054-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 64579FYJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4715000 | PA      | $4715000.00   | 3.18%             | 2043-07-01      | Floating      | 2.55%                 | No            |                  2 | On Loan: No      |
| New Jersey Health Care Facilities Financing Authority    | NEW JERSEY ST HLTH CARE FACS FING AUTH REVENUE             | CUSIP: 64579FYL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400000.00    | 0.27%             | 2043-07-01      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| New Jersey Institute of Technology/NJ                    | NEW JERSEY INSTITUTE OF TECHNOLOGY                         | CUSIP: 64579RED5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1082264.10   | 0.73%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH REVENUE                        | CUSIP: 6459182D4<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    275000 | PA      | $275248.33    | 0.19%             | 2043-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                | NEW JERSEY ST ECON DEV AUTH REVENUE                        | CUSIP: 645918Z97<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2015000 | PA      | $2018816.21   | 1.36%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority              | NEW JERSEY ST EDUCTNL FACS AUTH REVENUE                    | CUSIP: 64605LQ92<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   2950000 | PA      | $2950000.00   | 1.99%             | 2031-07-01      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority              | NEW JERSEY ST EDUCTNL FACS AUTH REVENUE                    | CUSIP: 646067CL0<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   3565000 | PA      | $2886590.48   | 1.94%             | 2038-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Educational Facilities Authority              | NEW JERSEY ST EDUCTNL FACS AUTH REVENUE                    | CUSIP: 646067JL3<br>LEI: 549300UTOO4X537XXG70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1088781.90   | 0.73%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE | CUSIP: 646080LA7<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    595000 | PA      | $595997.40    | 0.40%             | 2036-06-01      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE | CUSIP: 646080TH4<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |    100000 | PA      | $99976.29     | 0.07%             | 2034-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE | CUSIP: 646080YC9<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   2080000 | PA      | $2096974.46   | 1.41%             | 2054-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Higher Education Student Assistance Authority | NEW JERSEY ST HGR EDU ASSISTANCE AUTH STUDENT LOAN REVENUE | CUSIP: 646080ZB0<br>LEI: 5493007OOYUHTF8GSL63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049322.40   | 0.71%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency             | NEW JERSEY ST HSG & MTGE FIN AGY MF REVENUE                | CUSIP: 6461087F1<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2088028.60   | 1.41%             | 2040-11-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency             | NEW JERSEY ST HSG & MTGE FIN AGY MF CONDUIT REVENUE        | CUSIP: 646127FS4<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |    995000 | PA      | $1045923.11   | 0.70%             | 2041-05-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency             | NEW JERSEY ST HSG & MTGE FIN AGY REVENUE                   | CUSIP: 64613AGC0<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   1975000 | PA      | $2009518.26   | 1.35%             | 2042-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Housing & Mortgage Finance Agency             | NEW JERSEY ST HSG & MTGE FIN AGY REVENUE                   | CUSIP: 64613ALQ3<br>LEI: 5493002ONULJL0FIGU24 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2081453.20   | 1.40%             | 2040-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CBH0<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013034.10   | 0.68%             | 2039-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CDM7<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111420.00   | 0.75%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CEG9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1576339.80   | 1.06%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CGC6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094399.00   | 0.74%             | 2041-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CGJ1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2331495.00   | 1.57%             | 2050-06-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CHL5<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095163.30   | 0.74%             | 2042-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CHQ4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1567669.05   | 1.06%             | 2050-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority           | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                    | CUSIP: 64613CHR2<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2140155.00   | 1.44%             | 2050-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140ET6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    320000 | PA      | $324502.72    | 0.22%             | 2048-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140FV0<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1390000 | PA      | $1499250.11   | 1.01%             | 2043-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140FX6<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1228531.76   | 0.83%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140FY4<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |    765000 | PA      | $733166.36    | 0.49%             | 2054-01-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140GC1<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1072962.60   | 0.72%             | 2044-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140GD9<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1602897.30   | 1.08%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                            | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE               | CUSIP: 646140JC8<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1618236.45   | 1.09%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority          | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE   | CUSIP: 64972GK45<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1460000 | PA      | $1350224.94   | 0.91%             | 2054-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Newark NJ Mass Transit Access Tax Revenue        | NEWARK NJ MASS TRANSIT ACCESS TRANSIT TAX REVENUE          | CUSIP: 650360AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083678.40   | 0.73%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Brunswick Township Board of Education              | NORTH BRUNSWICK TWP NJ BRD OFEDU                           | CUSIP: 658034QM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3850000 | PA      | $3921772.86   | 2.64%             | 2042-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Borough of Paramus NJ                                    | PARAMUS NJ                                                 | CUSIP: 699330MQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1626235.50   | 1.10%             | 2036-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                 | PASSAIC CNTY NJ IMPT AUTH CNTY GTD GOVTL LOAN REVENUE      | CUSIP: 70275PBD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $733749.53    | 0.49%             | 2056-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                 | PASSAIC CNTY NJ IMPT AUTH CHRT SCH REVENUE                 | CUSIP: 70275QAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $720262.48    | 0.49%             | 2033-07-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                 | PASSAIC CNTY NJ IMPT AUTH CHRT SCH REVENUE                 | CUSIP: 70275QAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006661.30   | 0.68%             | 2040-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Passaic County Improvement Authority/The                 | PASSAIC CNTY NJ IMPT AUTH CHRT SCH REVENUE                 | CUSIP: 70275QAM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504945.70    | 0.34%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Passaic Valley Water Commission                          | PASSAIC VLY NJ WTR COMMISSION                              | CUSIP: 702845LW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    310000 | PA      | $300193.77    | 0.20%             | 2053-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Paterson NJ                                      | PATERSON NJ                                                | CUSIP: 7031304N1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1305000 | PA      | $1306960.24   | 0.88%             | 2026-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                  | PORT AUTH OF NEW YORK & NEW JERSEY NY                      | CUSIP: 73358WD27<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2024854.40   | 1.36%             | 2036-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                  | PORT AUTH OF NEW YORK & NEW JERSEY NY                      | CUSIP: 73358XFK3<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078802.50   | 0.73%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                  | PORT AUTH OF NEW YORK & NEW JERSEY NY                      | CUSIP: 73358XHE5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031241.00   | 0.69%             | 2047-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                  | PORT AUTH OF NEW YORK & NEW JERSEY NY                      | CUSIP: 73358XHZ8<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1478846.05   | 1.00%             | 2039-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                              | PUERTO RICO CMWLTH                                         | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1068320.30   | 0.72%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                     | PUERTO RICO ELEC PWR AUTH PWRREVENUE                       | CUSIP: 74526Q2V3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   3020000 | PA      | $3050959.53   | 2.06%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue   | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE          | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $1941207.42   | 1.31%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Jersey Port Corp                                   | SOUTH JERSEY NJ PORT CORP                                  | CUSIP: 838530RH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3635448.70   | 2.45%             | 2048-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Jersey Transportation Authority                    | S JERSEY NJ TRANSPRTN AUTH TRANSPRTN SYS REVENUE           | CUSIP: 838536LN8<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1823424.60   | 1.23%             | 2050-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| South Jersey Transportation Authority                    | S JERSEY NJ TRANSPRTN AUTH TRANSPRTN SYS REVENUE           | CUSIP: 838536MP2<br>LEI: 549300W8SZI2CAOKT956 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1520420.25   | 1.02%             | 2047-11-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| City of Summit NJ                                        | SUMMIT NJ                                                  | CUSIP: 866203G48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $41985.42     | 0.03%             | 2045-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Tobacco Settlement Financing Corp                        | TOBACCO SETTLEMENT FING CORP NJ                            | CUSIP: 888808HR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3965000 | PA      | $3976179.32   | 2.68%             | 2046-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Willingboro Township School District                     | WILLINGBORO TWP NJ SCH DIST                                | CUSIP: 970599KG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1268067.88   | 0.85%             | 2042-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Willingboro Township School District                     | WILLINGBORO TWP NJ SCH DIST                                | CUSIP: 970599KJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $982472.69    | 0.66%             | 2044-08-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Township of Woolwich NJ                                  | WOOLWICH TWP NJ                                            | CUSIP: 980862DY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $297420.98    | 0.20%             | 2044-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Eaton Vance Municipals Trust

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer