CEV - Eaton Vance California Municipal Income Trust

What this means for you

Sit Investment has told the regulator it may push for changes at this fund. That usually means asking the fund to buy back shares at close to the full value of its holdings, to change who runs it, or to close down and pay holders out.

Nothing is required of you now. If the fund itself announces a buy-back or a vote, it appears in the box above with the date by which you would need to act.

Large investors can also sell down and walk away. We show every notice they file, the day it is filed.

Email me if this changes

What happened, and when

1. Oct 2, 2025

   Saba sold down below 5% and stopped reporting.

   Original document →

2. Aug 11, 2025

   Saba cut its stake to 5.2% (from 6.6%). It has said it may push for changes.

   Original document →

3. Aug 5, 2025

   Saba cut its stake to 6.6% (from 8%). It has said it may push for changes.

   Original document →

4. June 30, 2025

   Saba cut its stake to 8% (from 9.3%). It has said it may push for changes.

   Original document →

5. Oct 23, 2024

   Saba cut its stake to 9.3% (from 10.4%). It has said it may push for changes.

   Original document →

About this fund

• Run by Eaton Vance Management. Part of the Eaton Vance fund family. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Size: about $78 million of holdings, as of May 31, 2026. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 37% on top of its own money, as of May 31, 2026. Borrowed money makes gains and losses bigger. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.6% a year in management fees; 2.5% a year in total, including interest on borrowed money. Fiscal year ended Nov 30, 2025. As of Nov 30, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Nov 30, 2025) the fund paid $0.60 a share. $0.43 of that was income; $0.17 was your own money back, not income. As of Nov 30, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Nov 30, 2025): $11.21. The shares traded at $10.49, about 6.4% below that. As of Nov 30, 2025, from the fund's yearly report. Original document →
• How the holdings did: down 0.5% over the last three months we have (March-May 2026), before the share price is taken into account. Over the last 12 months: +10.5%. As of May 31, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Nov 30, 2025): the value of the holdings returned +0.8%. How the share price did: the shares returned +4.6% over the same year, counting payouts and the change in the market price. As of Nov 30, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 1998.

What the fund holds

Almost all tax-free municipal bonds (99%). About 100% issued in the U.S.

1. California State University, California St Univ Revenue - 7.6%
2. State of California, California St - 10.4%
3. University of California, Univ of California CA Revenues - 6.8%
4. San Diego Community College District, San Diego CA Cmnty Clg Dist - 6.8%
5. San Francisco City & County Airport Comm-San Francisco International Airport, San Francisco CA City &Cnty Arpts Commn Intl Arpt Rev - 6.7%
6. City of Los Angeles Department of Airports, Los Angeles CA Dept of Arpts Arpt Revenue - 6.6%
7. Alameda Corridor Transportation Authority, Alameda CA Corridor Transprtn Auth Revenue - 8%
8. California Health Facilities Financing Authority, California St Hlth Facs Fing Auth Revenue - 5.5%
9. Lancaster School District/CA, Lancaster CA Sch Dist - 5.5%
10. San Diego Unified School District/CA, San Diego CA Unif Sch Dist - 4.8%

As of May 31, 2026, from the fund's quarterly holdings report. Original document →