# EDGAR Filing Document

**Accession Number:** 0000778365
**File Stem:** 0001410368-26-008051
**Filing Date:** 2026-1
**Character Count:** 64628
**Document Hash:** 2adc425e52ad6701b597227baf9dc4a3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-008051.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001410368-26-008051

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260831

**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:** 26569014

**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 Virginia Municipal Income Fund (Series ID: S000004857)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000013157 | Eaton Vance Virginia Municipal Income Fund Class A | ETVAX           |
| C000013159 | Eaton Vance Virginia Municipal Income Fund Class C | ECVAX           |
| C000063953 | Eaton Vance Virginia Municipal Income Fund Class I | EVAIX           |

## Nport-Ex

Eaton Vance<br>

Virginia Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited)

------

Tax-Exempt Municipal Obligations — 96.1%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Bond Bank — 3.1% | Bond Bank — 3.1% | Bond Bank — 3.1% |
| Virginia Resources Authority, (Pooled Financing Program): |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 11/1/41 | $1500 | &nbsp;&nbsp;$1501229 |
| &nbsp;&nbsp;&nbsp;4.125%, 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;&nbsp; 205021 |
| Virginia Resources Authority, (State Revolving Fund), 3.00%, 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 451043 |
|  |  | &nbsp;&nbsp;**$2157293** |
| Education — 5.2% | Education — 5.2% | Education — 5.2% |
| Alexandria Industrial Development Authority, VA, (Episcopal High School), 4.00%, 1/1/36 | $1000 | &nbsp;&nbsp;$1006642 |
| Salem Economic Development Authority, VA, (Roanoke College), 5.50%, 4/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;55 | &nbsp;&nbsp;&nbsp;&nbsp; 56311 |
| Virginia College Building Authority, 3.00%, 9/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;215 | &nbsp;&nbsp;&nbsp;&nbsp; 199648 |
| Virginia College Building Authority, (Regent University), 6.00%, 6/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;370 | &nbsp;&nbsp;&nbsp;&nbsp; 395426 |
| Virginia Public School Authority: |  |  |
| &nbsp;&nbsp;&nbsp;3.25%, 3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp;175 | &nbsp;&nbsp;&nbsp;&nbsp; 175169 |
| &nbsp;&nbsp;&nbsp;5.00%, 8/1/41 | 1640 | &nbsp;&nbsp;&nbsp;&nbsp; 1828820 |
|  |  | &nbsp;&nbsp;**$3662016** |
| Electric Utilities — 1.9% | Electric Utilities — 1.9% | Electric Utilities — 1.9% |
| Richmond, VA, Public Utility Revenue, 4.25%, 1/15/53 | $1345 | &nbsp;&nbsp;$1309183 |
|  |  | &nbsp;&nbsp;**$1309183** |
| Escrowed/Prerefunded — 0.4% | Escrowed/Prerefunded — 0.4% | Escrowed/Prerefunded — 0.4% |
| Virginia Port Authority, (AMT), Prerefunded to 7/1/26, 5.00%, 7/1/45 | $&nbsp;&nbsp;&nbsp;&nbsp;295 | &nbsp;&nbsp;$298226 |
|  |  | &nbsp;&nbsp;**$298226** |
| General Obligations — 14.8% | General Obligations — 14.8% | General Obligations — 14.8% |
| Alexandria, VA, 4.00%, 12/15/44 | $&nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;$197373 |
| Fairfax County, VA: |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, 10/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;115 | &nbsp;&nbsp;&nbsp;&nbsp; 102369 |
| &nbsp;&nbsp;&nbsp;4.00%, 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;885 | &nbsp;&nbsp;&nbsp;&nbsp; 916372 |
| Falls Church, VA, 3.00%, 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;985 | &nbsp;&nbsp;&nbsp;&nbsp; 866796 |
| Herndon, VA, 3.125%, 2/15/36 | &nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;&nbsp;&nbsp; 123676 |
| Loudoun County, VA: |  |  |
| &nbsp;&nbsp;&nbsp;2.00%, 12/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;&nbsp;&nbsp; 527571 |
| &nbsp;&nbsp;&nbsp;4.00%, 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 700276 |
| Lynchburg, VA: |  |  |
| &nbsp;&nbsp;&nbsp;2.375%, 8/1/40 | 1245 | &nbsp;&nbsp;&nbsp;&nbsp; 1002154 |
| &nbsp;&nbsp;&nbsp;4.00%, 6/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;&nbsp; 468092 |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| General Obligations (continued) | General Obligations (continued) | General Obligations (continued) |
| Newport News, VA, 4.00%, 2/1/42 | $1350 | &nbsp;&nbsp;$1372653 |
| Norfolk, VA: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 50975 |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/35 | &nbsp;&nbsp;&nbsp;&nbsp;375 | &nbsp;&nbsp;&nbsp;&nbsp; 439954 |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/36 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1163535 |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;385 | &nbsp;&nbsp;&nbsp;&nbsp; 406401 |
| Puerto Rico: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 540729 |
| &nbsp;&nbsp;&nbsp;5.625%, 7/1/29 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061744 |
| Virginia, 4.00%, 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;405 | &nbsp;&nbsp;&nbsp;&nbsp; 418341 |
|  |  | &nbsp;&nbsp;**$10359011** |
| Hospital — 9.0% | Hospital — 9.0% | Hospital — 9.0% |
| Fairfax County Industrial Development Authority, VA, (Inova Health System), 4.00%, 5/15/48 | $&nbsp;&nbsp;&nbsp;&nbsp;965 | &nbsp;&nbsp;$911327 |
| Henrico County Economic Development Authority, VA, (Bon Secours Mercy Health, Inc.), 5.00%, 11/1/48 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1045430 |
| Norfolk Economic Development Authority, VA, (Sentara Healthcare), 4.00%, 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;&nbsp;&nbsp; 775944 |
| Roanoke Economic Development Authority, VA, (Carilion Clinic Obligated Group), (LOC: TD Bank, N.A.), 2.85%, 7/1/52<sup>(1)</sup> | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
| Virginia Small Business Financing Authority, (Bon Secours Mercy Health, Inc.), 4.00%, 12/1/49 | 2015 | &nbsp;&nbsp;&nbsp;&nbsp; 1809041 |
| Virginia Small Business Financing Authority, VA, (Carilion Clinic Obligated Group), (LOC: Truist Bank), 2.90%, 7/1/42<sup>(1)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 |
|  |  | &nbsp;&nbsp;**$6291742** |
| Housing — 6.9% | Housing — 6.9% | Housing — 6.9% |
| Harrisonburg Redevelopment and Housing Authority, VA, (Wesley Apartments), 4.00% to 12/1/26 (Put Date), 12/1/28 | $1640 | &nbsp;&nbsp;$1656180 |
| Virginia Housing Development Authority: |  |  |
| &nbsp;&nbsp;&nbsp;4.10%, 10/1/27 | 1890 | &nbsp;&nbsp;&nbsp;&nbsp; 1891040 |
| &nbsp;&nbsp;&nbsp;4.10%, 9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp;225 | &nbsp;&nbsp;&nbsp;&nbsp; 227279 |
| &nbsp;&nbsp;&nbsp;4.40%, 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;925 | &nbsp;&nbsp;&nbsp;&nbsp; 926072 |
| &nbsp;&nbsp;&nbsp;4.45%, 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;155 | &nbsp;&nbsp;&nbsp;&nbsp; 155137 |
|  |  | &nbsp;&nbsp;**$4855708** |
| Industrial Development Revenue — 2.6% | Industrial Development Revenue — 2.6% | Industrial Development Revenue — 2.6% |
| Amelia County Industrial Development Authority, VA, (Waste Management, Inc.), (AMT), 1.45%, 4/1/27 | $1050 | &nbsp;&nbsp;$1016208 |
| Virginia Small Business Financing Authority, (Covanta), (AMT), 5.00% to 7/1/38 (Put Date), 1/1/48<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp; 771623 |
|  |  | &nbsp;&nbsp;**$1787831** |

---

------

Eaton Vance<br>

Virginia Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Insured - Education — 2.1% | Insured - Education — 2.1% | Insured - Education — 2.1% |
| Virginia College Building Authority, (Washington and Lee University), (NPFG), 5.25%, 1/1/31 | $1370 | &nbsp;&nbsp;$1484052 |
|  |  | &nbsp;&nbsp;**$1484052** |
| Insured - Electric Utilities — 1.4% | Insured - Electric Utilities — 1.4% | Insured - Electric Utilities — 1.4% |
| Puerto Rico Electric Power Authority, (NPFG), 5.25%, 7/1/29 | $1000 | &nbsp;&nbsp;$1008202 |
|  |  | &nbsp;&nbsp;**$1008202** |
| Insured - Hospital — 2.9% | Insured - Hospital — 2.9% | Insured - Hospital — 2.9% |
| Isle of Wight County Economic Development Authority, VA, (Riverside Health System), (AG), 5.25%, 7/1/43 | $&nbsp;&nbsp;&nbsp;&nbsp;840 | &nbsp;&nbsp;$913976 |
| Virginia Commonwealth University Health System Authority, (BAM), 4.00%, 7/1/54 | 1215 | &nbsp;&nbsp;&nbsp;&nbsp; 1130896 |
|  |  | &nbsp;&nbsp;**$2044872** |
| Lease Revenue/Certificates of Participation — 9.9% | Lease Revenue/Certificates of Participation — 9.9% | Lease Revenue/Certificates of Participation — 9.9% |
| Chesterfield County Economic Development Authority, VA, (County Mobility), 4.00%, 4/1/50 | $1000 | &nbsp;&nbsp;$943384 |
| Henrico County Economic Development Authority, VA, (Henrico County Government), 4.00%, 8/1/44 | 1125 | &nbsp;&nbsp;&nbsp;&nbsp; 1118586 |
| Loudoun County Economic Development Authority, VA, 4.00%, 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;430 | &nbsp;&nbsp;&nbsp;&nbsp; 436258 |
| Prince William County Industrial Development Authority, VA, 5.00%, 10/1/44 | 2200 | &nbsp;&nbsp;&nbsp;&nbsp; 2370914 |
| Virginia Port Authority, 5.25%, 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;810 | &nbsp;&nbsp;&nbsp;&nbsp; 869073 |
| Virginia Public Building Authority: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;325 | &nbsp;&nbsp;&nbsp;&nbsp; 325283 |
| &nbsp;&nbsp;&nbsp;(AMT), 4.00%, 8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;890 | &nbsp;&nbsp;&nbsp;&nbsp; 891251 |
|  |  | &nbsp;&nbsp;**$6954749** |
| Senior Living/Life Care — 8.0% | Senior Living/Life Care — 8.0% | Senior Living/Life Care — 8.0% |
| James City County Economic Development Authority, VA, (WindsorMeade), 4.00%, 6/1/41 | $&nbsp;&nbsp;&nbsp;&nbsp;615 | &nbsp;&nbsp;$541440 |
| Norfolk Redevelopment and Housing Authority, VA, (Fort Norfolk Retirement Community, Inc. - Harbor's Edge), 5.00%, 1/1/34 | 1500 | &nbsp;&nbsp;&nbsp;&nbsp; 1517480 |
| Virginia Beach Development Authority, VA, (Westminster-Canterbury on Chesapeake Bay): |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/34 | 1150 | &nbsp;&nbsp;&nbsp;&nbsp; 1174695 |
| &nbsp;&nbsp;&nbsp;7.00%, 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp; 550343 |
| Virginia Small Business Financing Authority, (Lifespire of Virginia), 5.00%, 12/1/39 | 1750 | &nbsp;&nbsp;&nbsp;&nbsp; 1852475 |
|  |  | &nbsp;&nbsp;**$5636433** |

---

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Special Tax Revenue — 2.0% | Special Tax Revenue — 2.0% | Special Tax Revenue — 2.0% |
| American Samoa Economic Development Authority: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/35<sup>(2)(3)</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;$265429 |
| &nbsp;&nbsp;&nbsp;5.00%, 9/1/38<sup>(2)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 204201 |
| Puerto Rico Sales Tax Financing Corp.: |  |  |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp;12 | &nbsp;&nbsp;&nbsp;&nbsp; 11379 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp;17 | &nbsp;&nbsp;&nbsp;&nbsp; 15068 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;22 | &nbsp;&nbsp;&nbsp;&nbsp; 18058 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp;50 | &nbsp;&nbsp;&nbsp;&nbsp; 37967 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;287 | &nbsp;&nbsp;&nbsp;&nbsp; 97866 |
| &nbsp;&nbsp;&nbsp;0.00%, 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;528 | &nbsp;&nbsp;&nbsp;&nbsp; 131586 |
| &nbsp;&nbsp;&nbsp;4.50%, 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp;110 | &nbsp;&nbsp;&nbsp;&nbsp; 110031 |
| &nbsp;&nbsp;&nbsp;4.536%, 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;&nbsp; 2736 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/1/58 | &nbsp;&nbsp;&nbsp;&nbsp;512 | &nbsp;&nbsp;&nbsp;&nbsp; 499183 |
|  |  | &nbsp;&nbsp;**$1393504** |
| Transportation — 12.7% | Transportation — 12.7% | Transportation — 12.7% |
| Metropolitan Washington Airports Authority, D.C., (AMT), 5.00%, 10/1/44 | $2750 | &nbsp;&nbsp;$2801951 |
| Northern Virginia Transportation Commission, Green Bonds, 5.00%, 6/1/47 | 1620 | &nbsp;&nbsp;&nbsp;&nbsp; 1690979 |
| Virgin Islands Transportation and Infrastructure Corp., 5.00%, 9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;750 | &nbsp;&nbsp;&nbsp;&nbsp; 812136 |
| Virginia Port Authority, 5.00%, 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;835 | &nbsp;&nbsp;&nbsp;&nbsp; 904574 |
| Virginia Small Business Financing Authority, (95 Express Lanes, LLC), (AMT), 5.00%, 7/1/38 | 1640 | &nbsp;&nbsp;&nbsp;&nbsp; 1721007 |
| Virginia Small Business Financing Authority, (Transform 66 P3 Project), (AMT), 5.00%, 12/31/52 | 1000 | &nbsp;&nbsp;&nbsp;&nbsp; 972595 |
|  |  | &nbsp;&nbsp;**$8903242** |
| Water and Sewer — 13.2% | Water and Sewer — 13.2% | Water and Sewer — 13.2% |
| Alexandria Sanitation Authority, VA, Green Bonds, 5.00%, 7/15/40 | $&nbsp;&nbsp;&nbsp;&nbsp;660 | &nbsp;&nbsp;$742480 |
| Fairfax County, VA, Sewer Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;4.00%, 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;275 | &nbsp;&nbsp;&nbsp;&nbsp; 280393 |
| &nbsp;&nbsp;&nbsp;4.00%, 7/15/51 | &nbsp;&nbsp;&nbsp;&nbsp;180 | &nbsp;&nbsp;&nbsp;&nbsp; 170171 |
| Greene County, VA, Water and Sewer System Revenue, 4.125%, 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;650 | &nbsp;&nbsp;&nbsp;&nbsp; 614851 |
| Hampton Roads Sanitation District, VA: |  |  |
| &nbsp;&nbsp;&nbsp;2.85%, 8/1/46<sup>(4)</sup> | 2000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
| &nbsp;&nbsp;&nbsp;4.00%, 10/1/38 | 1690 | &nbsp;&nbsp;&nbsp;&nbsp; 1710219 |
| Loudoun County Sanitation Authority, VA, (SPA: Bank of America, N.A.), 2.74%, 1/1/30<sup>(4)</sup> | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 |
| Prince William County Service Authority, VA, Water and Sewer System Revenue: |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp;250 | &nbsp;&nbsp;&nbsp;&nbsp; 279831 |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;565 | &nbsp;&nbsp;&nbsp;&nbsp; 625263 |

---

------

Eaton Vance<br>

Virginia Municipal Income Fund

November 30, 2025

Portfolio of Investments (Unaudited) — continued

------

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Water and Sewer (continued) | Water and Sewer (continued) | Water and Sewer (continued) |
| Prince William County Service Authority, VA, Water and Sewer System Revenue: (continued) |  |  |
| &nbsp;&nbsp;&nbsp;5.00%, 7/15/43 | $&nbsp;&nbsp;&nbsp;&nbsp;600 | &nbsp;&nbsp;$657323 |
| Stafford County, VA, Water and Wastewater System Revenue, 5.00%, 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp;200 | &nbsp;&nbsp;&nbsp;&nbsp; 218252 |
| Virginia Beach, VA, Storm Water Utility Revenue, 4.00%, 11/15/45 | 1320 | &nbsp;&nbsp;&nbsp;&nbsp; 1299952 |
| Virginia Resources Authority, (State Revolving Fund), 3.00%, 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;435 | &nbsp;&nbsp;&nbsp;&nbsp; 415772 |
|  |  | &nbsp;&nbsp;**$9264507** |
| Total Tax-Exempt Municipal Obligations<br> (identified cost $66,577,081) |  | &nbsp;&nbsp;**$67410571** |

---

Taxable Municipal Obligations — 1.9%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| Bond Bank — 0.6% | Bond Bank — 0.6% | Bond Bank — 0.6% |
| Virginia Resources Authority, (Pooled Financing Program), 1.816%, 11/1/29 | $&nbsp;&nbsp;&nbsp;&nbsp;415 | &nbsp;&nbsp;$386625 |
|  |  | &nbsp;&nbsp;**$386625** |
| General Obligations — 0.2% | General Obligations — 0.2% | General Obligations — 0.2% |
| Portsmouth, VA, 2.20%, 7/15/37 | $&nbsp;&nbsp;&nbsp;&nbsp;165 | &nbsp;&nbsp;$130524 |
|  |  | &nbsp;&nbsp;**$130524** |
| Lease Revenue/Certificates of Participation — 1.1% | Lease Revenue/Certificates of Participation — 1.1% | Lease Revenue/Certificates of Participation — 1.1% |
| Manassas Park Economic Development Authority, VA: |  |  |
| &nbsp;&nbsp;&nbsp;4.85%, 10/15/35 | $&nbsp;&nbsp;&nbsp;&nbsp;125 | &nbsp;&nbsp;$126934 |
| &nbsp;&nbsp;&nbsp;5.22%, 10/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;675 | &nbsp;&nbsp;&nbsp;&nbsp; 678767 |
|  |  | &nbsp;&nbsp;**$805701** |
| Total Taxable Municipal Obligations<br> (identified cost $1,380,000) |  | &nbsp;&nbsp;**$1322850** |

---

Short-Term Investments — 0.7%

U.S. Treasury Obligations — 0.7%

---

| | | |
|:---|:---|:---|
| **<br>Security** | **Principal<br> Amount<br> (000's omitted)** | &nbsp;&nbsp;**Value** |
| U.S. Treasury Bills, 0.00%, 12/2/25 | $&nbsp;&nbsp;&nbsp;&nbsp;500 | &nbsp;&nbsp;$499946 |
| Total U.S. Treasury Obligations<br> (identified cost $499,946) |  | &nbsp;&nbsp;**$499946** |
| Total Short-Term Investments<br> (identified cost $499,946) |  | &nbsp;&nbsp;**$499946** |
| Total Investments — 98.7%<br> (identified cost $68,457,027) |  | &nbsp;&nbsp;**$69233367** |
| Other Assets, Less Liabilities — 1.3% |  | &nbsp;&nbsp;**$889983** |
| Net Assets — 100.0% |  | &nbsp;&nbsp;**$70123350** |

---

---

| | |
|:---|:---|
| 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> | 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 November 30, 2025. |
| <sup>(2)</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 November 30, 2025, the aggregate value of these securities is $1,241,253 or 1.8% of the Fund's net assets. |
| <sup>(3)</sup> | When-issued security. |
| <sup>(4)</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 November 30, 2025. |
| The Fund invests primarily in debt securities issued by Virginia 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 November 30, 2025, 6.6% 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 1.3% to 3.6% of total investments. | The Fund invests primarily in debt securities issued by Virginia 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 November 30, 2025, 6.6% 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 1.3% to 3.6% of total investments. |

---

------

Eaton Vance<br>

Virginia Municipal Income Fund

November 30, 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. |
| LOC | – Letter of Credit |
| NPFG | – National Public Finance Guarantee Corp. |
| SPA | – Standby Bond Purchase Agreement |

---

The Fund did not have any open derivative instruments at November 30, 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 November 30, 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;$67410571 | &nbsp;&nbsp;&nbsp;&nbsp;$— | &nbsp;&nbsp;&nbsp;&nbsp;$67410571 |
| Taxable Municipal Obligations | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1322850 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1322850 |
| Short-Term Investments | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499946 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 499946 |
| **Total Investments** | &nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$69233367** | &nbsp;&nbsp;&nbsp;&nbsp;**$—** | &nbsp;&nbsp;&nbsp;&nbsp;**$69233367** |

---

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 Virginia Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000004857

- **c. LEI of Series:** 549300WUMX0U6I2AXM07

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

- **a. Date of fiscal year-end:** 2026-08-31

- **b. Date as of which information is reported:** 2025-11-30

**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:** $70584207.69

**Total Liabilities:** $560459.17

**Net Assets:** $70023748.52

**Delayed Delivery Securities:** $263701.25

**Cash Not Reported:** $193064.13

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -65.50000000 | **1-Year:** -1862.84000000 | **5-Year:** -7818.90000000 | **10-Year:** -24841.74000000 | **30-Year:** -7198.90000000

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

- **3-Month:** -42.33000000 | **1-Year:** -885.22000000 | **5-Year:** -2035.38000000 | **10-Year:** -2522.84000000 | **30-Year:** -464.65000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000013157 | 2.88%                | 1.53%                | 0.27%                |
| Class ID C000013159 | 2.95%                | 1.34%                | 0.21%                |
| Class ID C000063953 | 3.03%                | 1.41%                | 0.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $80314.32                | $1568631.53                                |
| Month 2  | $75745.47                | $723671.02                                 |
| Month 3  | $119412.79               | $-102608.92                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| City of Alexandria VA                                       | ALEXANDRIA VA                                                | CUSIP: 015303FF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $197372.88    | 0.28%             | 2044-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Alexandria Industrial Development Authority                 | ALEXANDRIA VA INDL DEV AUTH EDUCTNL FACS REVENUE             | CUSIP: 015304FE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006642.30   | 1.44%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Alexandria Sanitation Authority                             | ALEXANDRIA VA SANTN AUTH WSTWTR REVENUE                      | CUSIP: 015343AR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $742479.67    | 1.06%             | 2040-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Amelia County Industrial Development Authority              | AMELIA CNTY VA INDL DEV AUTH SOL WST DISP REVENUE            | CUSIP: 023445AA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1016207.75   | 1.45%             | 2027-04-01      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| 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      | $204200.70    | 0.29%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Samoa Economic Development Authority               | AMERICAN SAMOA AS ECON DEV AUTH GEN REVENUE                  | CUSIP: 02936TAV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $265428.75    | 0.38%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chesterfield County Economic Development Authority          | CHESTERFIELD CNTY VA ECON DEV AUTH REVENUE                   | CUSIP: 16639EBY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $943384.20    | 1.35%             | 2050-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fairfax County Industrial Development Authority             | FAIRFAX CNTY VA INDL DEV AUTH REVENUE                        | CUSIP: 303823MW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $911327.38    | 1.30%             | 2048-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax VA                                        | FAIRFAX CNTY VA                                              | CUSIP: 30382ALB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $102368.94    | 0.15%             | 2033-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax VA                                        | FAIRFAX CNTY VA                                              | CUSIP: 30382ANS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    885000 | PA      | $916371.75    | 1.31%             | 2039-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax VA Sewer Revenue                          | FAIRFAX CNTY VA SWR REVENUE                                  | CUSIP: 303867ME2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $170171.44    | 0.24%             | 2051-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Fairfax VA Sewer Revenue                          | FAIRFAX CNTY VA SWR REVENUE                                  | CUSIP: 303867MJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $280393.08    | 0.40%             | 2040-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Falls Church VA                                     | FALLS CHURCH VA                                              | CUSIP: 306567SU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    985000 | PA      | $866796.26    | 1.24%             | 2041-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Greene VA Water & Sewer System Revenue            | GREENE COUNTY VA WTR & SWR SYS REVENUE                       | CUSIP: 39469YAX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $614850.86    | 0.88%             | 2051-05-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Sanitation District                           | HAMPTON ROADS VA SANTN DIST WSTWTR REVENUE                   | CUSIP: 409327HZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 2.86%             | 2046-08-01      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| Hampton Roads Sanitation District                           | HAMPTON ROADS VA SANTN DIST WSTWTR REVENUE                   | CUSIP: 409327JL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1710219.33   | 2.44%             | 2038-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Harrisonburg Redevelopment & Housing Authority              | HARRISONBURG VA REDEV & HSG AUTH MF HSG REVENUE              | CUSIP: 415690NW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1656179.42   | 2.37%             | 2028-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Henrico County Economic Development Authority               | HENRICO CNTY VA ECON DEV AUTHREVENUE                         | CUSIP: 42605PFY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1118585.81   | 1.60%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Henrico County Economic Development Authority               | HENRICO CNTY VA ECON DEV AUTH HLTH FACS REVENUE              | CUSIP: 42605XAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1045430.00   | 1.49%             | 2048-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Herndon VA                                          | HERNDON VA                                                   | CUSIP: 427704JA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $123676.30    | 0.18%             | 2036-02-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Isle Wight County Industrial Development Authority          | ISLE OF WIGHT CNTY VA ECON DEV AUTH                          | CUSIP: 464637AP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $913976.45    | 1.31%             | 2043-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| James City County Economic Development Authority            | JAMES CITY CNTY VA ECON DEV AUTH RSDL CARE FAC REVENUE       | CUSIP: 47029WDQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    615000 | PA      | $541440.10    | 0.77%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Loudoun VA                                        | LOUDOUN CNTY VA                                              | CUSIP: 54589TJN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $527571.00    | 0.75%             | 2034-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| County of Loudoun VA                                        | LOUDOUN CNTY VA                                              | CUSIP: 54589TMC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $700275.92    | 1.00%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Loudoun County Sanitation Authority                         | LOUDOUN CNTY VA SANTN AUTH WTR & SWR REVENUE                 | CUSIP: 545904GS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250000.00    | 0.36%             | 2030-01-01      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| Loudoun County Economic Development Authority               | LOUDOUN CNTY VA ECONOMIC DEV AUTH PUBLIC FAC REVENUE         | CUSIP: 54602QGA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $436258.01    | 0.62%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Lynchburg VA                                        | LYNCHBURG VA                                                 | CUSIP: 55127LAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1002154.28   | 1.43%             | 2040-08-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| City of Lynchburg VA                                        | LYNCHBURG VA                                                 | CUSIP: 55127LDW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    470000 | PA      | $468092.55    | 0.67%             | 2044-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Manassas Park Economic Development Authority                | MANASSAS PARK VA ECON DEV AUTH REVENUE                       | CUSIP: 56183AAG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $126933.74    | 0.18%             | 2035-10-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Manassas Park Economic Development Authority                | MANASSAS PARK VA ECON DEV AUTH REVENUE                       | CUSIP: 56183AAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $678767.58    | 0.97%             | 2040-10-15      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Metropolitan Washington Airports Authority Aviation Revenue | MET WASHINGTON DC ARPTS AUTH ARPT SYS REVENUE                | CUSIP: 592647GN5<br>LEI: 7HERAVJJLN8J1DZ6AZ19 | Long             | DBT              | MUN               | US        |   2750000 | PA      | $2801950.53   | 4.00%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Newport News VA                                     | NEWPORT NEWS VA                                              | CUSIP: 652233PW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1372652.60   | 1.96%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Norfolk VA                                          | NORFOLK VA                                                   | CUSIP: 655867F46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $50975.07     | 0.07%             | 2039-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Norfolk VA                                          | NORFOLK VA                                                   | CUSIP: 655867T74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $439953.68    | 0.63%             | 2035-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Norfolk VA                                          | NORFOLK VA                                                   | CUSIP: 655867U72<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    385000 | PA      | $406401.03    | 0.58%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Norfolk VA                                          | NORFOLK VA                                                   | CUSIP: 655867U80<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1163534.80   | 1.66%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norfolk Economic Development Authority                      | NORFOLK VA ECON DEV AUTH HOSPFACS REVENUE                    | CUSIP: 65588TAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    840000 | PA      | $775943.87    | 1.11%             | 2048-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Norfolk Redevelopment & Housing Authority                   | NORFOLK VA REDEV & HSG AUTH REVENUE                          | CUSIP: 655909CK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517479.95   | 2.17%             | 2034-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern Virginia Transportation Commission                 | NORTHERN VIRGINA TRANSPRTN COMMN TRANSPRTN DIST SPL OBLIG    | CUSIP: 66604PAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1620000 | PA      | $1690979.49   | 2.41%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Portsmouth VA                                       | PORTSMOUTH VA                                                | CUSIP: 73723RP49<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $130524.34    | 0.19%             | 2037-07-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Prince William County Industrial Development Authority      | PRINCE WILLIAM CNTY VA INDL DEV AUTH CNTY FACS REVENUE       | CUSIP: 741752DM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2370914.48   | 3.39%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Prince William County Service Authority                     | PRINCE WILLIAM CNTY VA SVC AUTH WTR & SWR SYS REVENUE        | CUSIP: 741765HP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $279831.13    | 0.40%             | 2041-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Prince William County Service Authority                     | PRINCE WILLIAM CNTY VA SVC AUTH WTR & SWR SYS REVENUE        | CUSIP: 741765HQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $625263.47    | 0.89%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Prince William County Service Authority                     | PRINCE WILLIAM CNTY VA SVC AUTH WTR & SWR SYS REVENUE        | CUSIP: 741765HR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $657323.16    | 0.94%             | 2043-07-15      | 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      | $1061744.50   | 1.52%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Puerto Rico                                 | PUERTO RICO CMWLTH                                           | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    750000 | PA      | $540728.78    | 0.77%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority                        | PUERTO RICO ELEC PWR AUTH PWRREVENUE                         | CUSIP: 74526Q2M3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008202.00   | 1.44%             | 2029-07-01      | 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: 74529JPU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    110000 | PA      | $110030.83    | 0.16%             | 2034-07-01      | Fixed         | 4.50%                 | 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        |    512000 | PA      | $499182.49    | 0.71%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     12000 | PA      | $11378.54     | 0.02%             | 2027-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     17000 | PA      | $15067.69     | 0.02%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     22000 | PA      | $18058.29     | 0.03%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $37967.07     | 0.05%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    287000 | PA      | $97866.34     | 0.14%             | 2046-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    528000 | PA      | $131586.42    | 0.19%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corp Sales Tax Revenue      | PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      3000 | PA      | $2736.38      | 0.00%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| City of Richmond VA Public Utility Revenue                  | RICHMOND VA PUBLIC UTILITY REVENUE                           | CUSIP: 765433NA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1345000 | PA      | $1309183.32   | 1.87%             | 2053-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Roanoke Economic Development Authority                      | ROANOKE VA ECON DEV AUTH HOSPREVENUE                         | CUSIP: 770082BB0<br>LEI: 549300P5QQORJY0U4T83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 1.43%             | 2052-07-01      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| Salem Economic Development Authority                        | SALEM VA ECON DEV AUTH EDUCTNL FACS REVENUE                  | CUSIP: 794565BJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $56310.85     | 0.08%             | 2045-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| County of Stafford VA Water & Wastewater System Revenue     | STAFFORD CNTY VA WTR & WSTWTR REVENUE                        | CUSIP: 85244AAT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $218251.70    | 0.31%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                      | U.S. Treasury Bills                                          | CUSIP: 912797RR0<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |    500000 | PA      | $499945.54    | 0.71%             | 2025-12-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Transportation & Infrastructure Corp         | VIRGIN ISLANDS TRANSPRTN & INFRASTRUCTURE CORP GRANT ANTIC   | CUSIP: 927686AS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $812136.30    | 1.16%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Virginia Beach VA Storm Water Utility Revenue       | VIRGINIA BEACH VA STORM WTR UTILITY REVENUE                  | CUSIP: 927747GM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1299951.97   | 1.86%             | 2045-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                        | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE             | CUSIP: 92774NAS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1174694.99   | 1.68%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Beach Development Authority                        | VIRGINIA BEACH VA DEV AUTH RSDL CARE FAC REVENUE             | CUSIP: 92774NBB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $550343.15    | 0.79%             | 2053-09-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                         | VIRGINIA ST CLG BLDG AUTH EDUCTNL FACS REVENUE               | CUSIP: 927780SK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1484051.82   | 2.12%             | 2031-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                         | VIRGINIA CLG BLDG AUTH EDUCTNL FACS REVENUE                  | CUSIP: 92778FLY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $395425.59    | 0.56%             | 2050-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Virginia Commonwealth University Health System Authority    | VIRGINIA ST CMWLTH UNIV HLTH SYS AUTH REVENUE                | CUSIP: 92778LDN7<br>LEI: 07ROV40HIZGU2Q6OXJ58 | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1130895.88   | 1.62%             | 2054-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                         | VIRGINIA ST CLG BLDG AUTH EDUCTNL FACS REVENUE PUBLIC HGR ED | CUSIP: 92778WQQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    215000 | PA      | $199648.31    | 0.29%             | 2038-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virginia Port Authority Commonwealth Port Fund              | VIRGINIA ST PORT AUTH CMWLTH PORT FND REVENUE                | CUSIP: 928075KG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $869072.90    | 1.24%             | 2048-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Virginia Port Authority                                     | VIRGINIA ST PORT AUTH PORT FAC REVENUE                       | CUSIP: 928077JN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $298225.91    | 0.43%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Port Authority                                     | VIRGINIA ST PORT AUTH PORT FAC REVENUE                       | CUSIP: 928077KX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $904573.70    | 1.29%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                 | VIRGINIA SMALL BUSINESS FING AUTH PRIV ACTIVITY REVENUE SR   | CUSIP: 928097AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $972595.40    | 1.39%             | 2052-12-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                 | VIRGINIA ST SMALL BUSINESS FING AUTH HOSP REVENUE            | CUSIP: 928101AL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750000.00    | 1.07%             | 2042-07-01      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                 | VIRGINIA ST SMALL BUSINESS FING AUTH RSDL FAC CARE REVENUE   | CUSIP: 928103AW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1852474.93   | 2.65%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                 | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104PP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1721006.49   | 2.46%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                 | VIRGINIA ST SMALL BUSINESS FING AUTH HLTHCARE FACS REVENUE   | CUSIP: 928105BZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2015000 | PA      | $1809040.40   | 2.58%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                 | VIRGINIA ST SMALL BUSINESS FING AUTH SOL WST DISP FAC REVENU | CUSIP: 928106AQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $771623.09    | 1.10%             | 2048-01-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                            | VIRGINIA ST PUBLIC SCH AUTH SPL OBLIG STAFFORD CNTY          | CUSIP: 92810UCJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1828819.60   | 2.61%             | 2041-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commonwealth of Virginia                                    | VIRGINIA ST                                                  | CUSIP: 928110DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $418341.06    | 0.60%             | 2041-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                      | VIRGINIA ST HSG DEV AUTH CMWLTH MTGE                         | CUSIP: 92812U6J2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    925000 | PA      | $926072.17    | 1.32%             | 2044-10-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                      | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WLB8<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1891040.07   | 2.70%             | 2027-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                      | VIRGINIA ST HSG DEV AUTH                                     | CUSIP: 92812WWQ3<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    225000 | PA      | $227279.27    | 0.32%             | 2040-09-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Virginia Housing Development Authority                      | VIRGINIA HSG DEV AUTH                                        | CUSIP: 92812XCD2<br>LEI: 549300LW3QBOVLQBP895 | Long             | DBT              | MUN               | US        |    155000 | PA      | $155136.96    | 0.22%             | 2045-07-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Virginia Public Building Authority                          | VIRGINIA ST PUBLIC BLDG AUTH PUBLIC FACS REVENUE             | CUSIP: 9281724T9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    890000 | PA      | $891250.81    | 1.27%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public Building Authority                          | VIRGINIA ST PUB BLDG AUTH PUBLIC FACS REVENUE                | CUSIP: 928173AU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $325282.91    | 0.46%             | 2041-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority Clean Water Revolving Fund     | VIRGINIA ST RESOURCES AUTH CLEAN WTR REVENUE                 | CUSIP: 92817LSK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    435000 | PA      | $415771.65    | 0.59%             | 2037-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority Clean Water Revolving Fund     | VIRGINIA ST RESOURCES AUTH CLEAN WTR REVENUE                 | CUSIP: 92817LSN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $451042.85    | 0.64%             | 2040-10-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virginia Public School Authority                            | VIRGINIA ST PUBLIC SCH AUTH SPL OBLG PRINCE WM               | CUSIP: 92817THL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    175000 | PA      | $175168.91    | 0.25%             | 2036-03-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                | VIRGINIA ST RESOURCES AUTH INFRASTRUCTURE REVENUE            | CUSIP: 92818L3A8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501229.10   | 2.14%             | 2041-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                | VIRGINIA ST RESOURCES AUTH INFRASTRUCTURE REVENUE            | CUSIP: 92818NJ33<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $386624.96    | 0.55%             | 2029-11-01      | Fixed         | 1.82%                 | No            |                  2 | On Loan: No      |
| Virginia Resources Authority                                | VIRGINIA ST RESOURCES AUTH INFRASTRUCTURE REVENUE            | CUSIP: 92818P4J9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    195000 | PA      | $205021.03    | 0.29%             | 2040-11-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-26

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

**Signature:** James Kirchner

**Name of Signer:** James Kirchner

**Title:** Treasurer