Investment Company Act file number 811-7486
Nuveen Maryland Premium Income Municipal Fund
(Exact name of
registrant as specified in charter)
Nuveen
Investments
333 West
Wacker Drive, Chicago, Illinois 60606
(Address of
principal executive offices) (Zip code)
Kevin
J. McCarthy Vice President and
Secretary
333 West Wacker
Drive, Chicago, Illinois 60606
(Name and address of
agent for service)
Registrant's telephone number, including area code: 312-917-7700
Date of fiscal year end: 5/31
Date of reporting period: 8/31/08
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Schedule of Investments
Portfolio of Investments (Unaudited) | ||||||||
Nuveen Maryland Premium Income Municipal Fund (NMY) | ||||||||
August 31, 2008 | ||||||||
Principal | Optional Call | |||||||
Amount (000) | Description (1) | Provisions (2) | Ratings (3) | Value | ||||
| ||||||||
Consumer Discretionary 2.8% (1.8% of Total Investments) | ||||||||
$ 4,825 | Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A, 5.250%, | 9/16 at 100.00 | BBB | $ | 4,144,142 | |||
9/01/39 XLCA Insured | ||||||||
| ||||||||
Consumer Staples 1.8% (1.2% of Total Investments) | ||||||||
2,885 | Puerto Rico, The Childrens Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds, | 5/12 at 100.00 | BBB | 2,683,714 | ||||
Series 2002, 5.375%, 5/15/33 | ||||||||
| ||||||||
Education and Civic Organizations 16.2% (10.6% of Total Investments) | ||||||||
1,250 | Frederick County, Maryland, Educational Facilities Revenue Bonds, Mount Saint Marys College, | 9/16 at 100.00 | BBB | 1,182,638 | ||||
Series 2006, 5.625%, 9/01/38 | ||||||||
1,000 | Hartford County, Maryland, Economic Development Revenue Bonds, Battelle Memorial Institute, | 4/14 at 100.00 | A+ | 1,010,070 | ||||
Series 2004, 5.250%, 4/01/34 | ||||||||
Maryland Economic Development Corporation, Utility Infrastructure Revenue Bonds, University of | ||||||||
Maryland College Park, Series 2001: | ||||||||
980 | 5.375%, 7/01/15 AMBAC Insured | 7/11 at 100.00 | AA | 1,035,586 | ||||
980 | 5.375%, 7/01/16 AMBAC Insured | 7/11 at 100.00 | AA | 1,035,586 | ||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Bullis School, | ||||||||
Series 2000: | ||||||||
750 | 5.250%, 7/01/25 FSA Insured | 1/11 at 101.00 | AAA | 773,370 | ||||
500 | 5.250%, 7/01/30 FSA Insured | 1/11 at 101.00 | AAA | 506,730 | ||||
1,250 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College, | 7/14 at 100.00 | A | 1,234,913 | ||||
Series 2004, 5.125%, 7/01/34 | ||||||||
1,825 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute | 6/16 at 100.00 | Baa1 | 1,662,466 | ||||
College of Art, Series 2006, 5.000%, 6/01/30 | ||||||||
1,365 | Montgomery County Revenue Authority, Maryland, Lease Revenue Bonds, Montgomery College Arts | 5/15 at 100.00 | A1 | 1,434,943 | ||||
Center Project, Series 2005A, 5.000%, 5/01/19 | ||||||||
9,445 | Morgan State University, Maryland, Student Tuition and Fee Revenue Refunding Bonds, Academic | No Opt. Call | AA | 10,828,029 | ||||
Fees and Auxiliary Facilities, Series 1993, 6.100%, 7/01/20 MBIA Insured | ||||||||
1,685 | University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A, | 10/16 at 100.00 | AA+ | 1,782,494 | ||||
5.000%, 10/01/22 | ||||||||
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006: | ||||||||
910 | 5.000%, 11/01/31 | 11/16 at 100.00 | BBB+ | 838,438 | ||||
850 | 4.500%, 11/01/36 | 11/16 at 100.00 | BBB+ | 690,430 | ||||
| ||||||||
22,790 | Total Education and Civic Organizations | 24,015,693 | ||||||
| ||||||||
Health Care 24.0% (15.7% of Total Investments) | ||||||||
1,525 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Calvert Memorial | 7/14 at 100.00 | A2 | 1,532,046 | ||||
Hospital, Series 2004, 5.500%, 7/01/36 | ||||||||
3,250 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll County | 7/12 at 100.00 | Baa1 | 3,258,223 | ||||
General Hospital, Series 2002, 5.800%, 7/01/32 | ||||||||
400 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital | 7/16 at 100.00 | Baa1 | 352,160 | ||||
Center, Series 2006, 5.000%, 7/01/40 | ||||||||
1,665 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Civista Medical | 7/14 at 100.00 | A3 | 1,425,690 | ||||
Center, Series 2005, 5.000%, 7/01/37 RAAI Insured | ||||||||
1,740 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Doctors Community | 7/17 at 100.00 | Baa2 | 1,565,008 | ||||
Hospital, Series 2007A, 5.000%, 7/01/29 | ||||||||
1,400 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial | 7/12 at 100.00 | Baa1 | 1,317,358 | ||||
Hospital, Series 2002, 5.125%, 7/01/35 | ||||||||
1,500 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Greater Baltimore | 7/11 at 100.00 | A+ | 1,408,875 | ||||
Medical Center, Series 2001, 5.000%, 7/01/34 MBIA Insured | ||||||||
1,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins | 1/09 at 101.00 | AA | 1,011,480 | ||||
Hospital, Howard County General Hospital Acquisition, Series 1998, 5.000%, 7/01/19 | ||||||||
MBIA Insured | ||||||||
1,430 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins | 7/14 at 100.00 | AA | 1,475,145 | ||||
Hospital, Series 2004, Inverse 1003, 10.840%, 7/01/33 (IF) | ||||||||
2,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Kaiser Permanente | 6/09 at 101.00 | A+ | 2,036,700 | ||||
System, Series 1998A, 5.375%, 7/01/15 | ||||||||
3,800 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Kennedy Krieger | 7/13 at 100.00 | Baa3 | 3,605,174 | ||||
Institute, Series 2003, 5.500%, 7/01/33 | ||||||||
1,175 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health | 7/17 at 100.00 | AAA | 1,201,038 | ||||
System, Series 2008, 5.000%, 7/01/28 AGC Insured | ||||||||
1,750 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health, | 8/14 at 100.00 | A | 1,760,500 | ||||
Series 2004, 5.375%, 8/15/24 | ||||||||
3,310 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health, | 5/16 at 100.00 | AAA | 3,315,329 | ||||
Series 2007, 5.250%, 5/15/46 BHAC Insured | ||||||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical | ||||||||
Center Project, Series 2007A: | ||||||||
1,010 | 5.000%, 7/01/37 | 7/17 at 100.00 | BBB | 885,922 | ||||
670 | 5.500%, 7/01/42 | 7/17 at 100.00 | BBB | 629,472 | ||||
1,700 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional | 7/16 at 100.00 | A | 1,610,716 | ||||
Medical Center, Series 2006, 5.000%, 7/01/36 | ||||||||
3,250 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Union Hospital of | 7/12 at 100.00 | A3 | 3,265,275 | ||||
Cecil County, Series 2002, 5.625%, 7/01/32 | ||||||||
1,000 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of | 7/13 at 100.00 | AA | 1,005,480 | ||||
Maryland Medical System, Series 2004B, 5.000%, 7/01/24 AMBAC Insured | ||||||||
2,395 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Washington County | 1/18 at 100.00 | BBB | 2,328,682 | ||||
Hospital, Series 2008, 5.750%, 1/01/38 | ||||||||
Prince Georges County, Maryland, Revenue Bonds, Dimensions Health Corporation, Series 1994: | ||||||||
420 | 5.375%, 7/01/14 | 1/09 at 100.00 | B3 | 368,206 | ||||
295 | 5.300%, 7/01/24 | 1/09 at 100.00 | B3 | 226,492 | ||||
| ||||||||
36,685 | Total Health Care | 35,584,971 | ||||||
| ||||||||
Housing/Multifamily 12.1% (7.9% of Total Investments) | ||||||||
1,450 | Maryland Community Development Administration, FNMA Multifamily Development Revenue Bonds, | 2/11 at 101.00 | Aaa | 1,478,174 | ||||
Edgewater Village Apartments, Series 2000B, 5.800%, 8/01/20 (Alternative Minimum Tax) | ||||||||
2,500 | Maryland Community Development Administration, Housing Revenue Bonds, Series 1999A, 5.350%, | 1/09 at 101.00 | Aa2 | 2,267,825 | ||||
7/01/41 (Alternative Minimum Tax) | ||||||||
880 | Maryland Community Development Administration, Housing Revenue Bonds, Series 1999B, 6.250%, | 1/10 at 100.00 | Aa2 | 883,485 | ||||
7/01/32 (Alternative Minimum Tax) | ||||||||
1,000 | Maryland Economic Development Corporation, Senior Lien Student Housing Revenue Bonds, | 10/13 at 100.00 | B2 | 881,970 | ||||
University of Maryland Baltimore, Series 2003A, 5.625%, 10/01/23 | ||||||||
1,000 | Maryland Economic Development Corporation, Student Housing Revenue Bonds, Collegiate Housing | 6/09 at 102.00 | Baa3 | 1,022,780 | ||||
Foundation Salisbury State University, Series 1999A, 6.000%, 6/01/19 | ||||||||
1,145 | Maryland Economic Development Corporation, Student Housing Revenue Refunding Bonds, University | 6/16 at 100.00 | Baa2 | 1,010,291 | ||||
of Maryland College Park Projects, Series 2006, 5.000%, 6/01/33 CIFG Insured | ||||||||
3,830 | Montgomery County Housing Opportunities Commission, Maryland, FNMA/FHA-Insured Multifamily | 1/09 at 101.00 | Aaa | 3,818,816 | ||||
Housing Development Bonds, Series 1998A, 5.200%, 7/01/30 | ||||||||
360 | Montgomery County Housing Opportunities Commission, Maryland, GNMA/FHA-Insured Multifamily | 1/09 at 100.00 | Aa2 | 360,551 | ||||
Housing Revenue Bonds, Series 1995A, 5.900%, 7/01/15 | ||||||||
2,000 | Montgomery County Housing Opportunities Commission, Maryland, Multifamily Housing Development | 7/10 at 100.00 | Aaa | 2,028,640 | ||||
Bonds, Series 2000A, 6.100%, 7/01/30 | ||||||||
540 | Prince Georges County Housing Authority, Maryland, GNMA Collateralized Mortgage Revenue | 9/09 at 102.00 | AAA | 541,312 | ||||
Bonds, University Landing Apartments, Series 1999, 6.100%, 3/20/41 (Alternative Minimum Tax) | ||||||||
Prince Georges County Housing Authority, Maryland, GNMA Collateralized Mortgage Revenue | ||||||||
Refunding Bonds, Overlook Apartments, Series 1995A: | ||||||||
2,000 | 5.700%, 12/20/15 | 12/08 at 100.00 | AAA | 2,002,700 | ||||
1,670 | 5.750%, 12/20/19 | 12/08 at 100.00 | AAA | 1,671,620 | ||||
| ||||||||
18,375 | Total Housing/Multifamily | 17,968,164 | ||||||
| ||||||||
Housing/Single Family 8.9% (5.8% of Total Investments) | ||||||||
650 | Maryland Community Development Administration Department of Housing and Community Development, | 3/17 at 100.00 | Aa2 | 594,783 | ||||
Residential Revenue Bonds, Series 2007H, 5.000%, 9/01/27 (Alternative Minimum Tax) | ||||||||
2,510 | Maryland Community Development Administration Department of Housing and Community Development, | 9/18 at 100.00 | Aa2 | 2,520,592 | ||||
Residential Revenue Bonds, Series 2008C, 5.375%, 9/01/39 (WI/DD, Settling 9/04/08) | ||||||||
1,195 | Maryland Community Development Administration, Department of Housing and Community | 9/15 at 100.00 | Aa2 | 1,088,239 | ||||
Development, Residential Revenue Bonds, Series 2006F, 4.900%, 9/01/26 (Alternative Minimum Tax) | ||||||||
4,100 | Maryland Community Development Administration, Department of Housing and Community | 3/16 at 100.00 | Aa2 | 3,722,267 | ||||
Development, Residential Revenue Bonds, Series 2006I, 4.875%, 9/01/26 (Alternative Minimum Tax) | ||||||||
1,630 | Maryland Community Development Administration, Department of Housing and Community | 9/16 at 100.00 | Aa2 | 1,434,041 | ||||
Development, Residential Revenue Bonds, Series 2006L, 4.900%, 9/01/31 (Alternative Minimum Tax) | ||||||||
1,200 | Maryland Community Development Administration, Department of Housing and Community | 3/17 at 100.00 | Aa2 | 1,024,500 | ||||
Development, Residential Revenue Bonds, Series 2007D, 4.850%, 9/01/37 (Alternative Minimum Tax) | ||||||||
365 | Maryland Community Development Administration, Residential Revenue Bonds, Series 2005E, | 9/14 at 100.00 | Aa2 | 312,174 | ||||
4.900%, 9/01/36 (Alternative Minimum Tax) | ||||||||
600 | Maryland Community Development Administration, Residential Revenue Bonds, Series 2006B, | 9/15 at 100.00 | Aa2 | 541,902 | ||||
4.750%, 9/01/25 (Alternative Minimum Tax) | ||||||||
790 | Montgomery County Housing Opportunities Commission, Maryland, Single Family Mortgage Revenue | 7/15 at 100.00 | Aa2 | 686,534 | ||||
Bonds, Series 2005D, 5.000%, 7/01/36 | ||||||||
1,175 | Montgomery County Housing Opportunities Commission, Maryland, Single Family Mortgage Revenue | 1/16 at 100.00 | Aa2 | 973,570 | ||||
Bonds, Series 2006B, 4.700%, 7/01/37 | ||||||||
5 | Prince Georges County Housing Authority, Maryland, FHLMC/FNMA/GNMA Collateralized Single | 8/10 at 100.00 | AAA | 5,042 | ||||
Family Mortgage Revenue Bonds, Series 2000A, 6.150%, 8/01/19 (Alternative Minimum Tax) | ||||||||
320 | Puerto Rico Housing Finance Authority, Mortgage-Backed Securities Program Home Mortgage | 6/13 at 100.00 | AAA | 276,435 | ||||
Revenue Bonds, Series 2003A, 4.875%, 6/01/34 (Alternative Minimum Tax) | ||||||||
| ||||||||
14,540 | Total Housing/Single Family | 13,180,079 | ||||||
| ||||||||
Industrials 1.3% (0.8% of Total Investments) | ||||||||
2,010 | Maryland Economic Development Corporation, Solid Waste Disposal Revenue Bonds, Waste | 4/12 at 101.00 | BBB | 1,847,853 | ||||
Management Inc., Series 2002, 4.600%, 4/01/16 (Alternative Minimum Tax) | ||||||||
| ||||||||
Long-Term Care 2.8% (1.8% of Total Investments) | ||||||||
2,455 | Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2007A, 5.000%, 1/01/37 | 1/17 at 100.00 | BBB+ | 2,217,822 | ||||
1,000 | Carroll County, Maryland, Revenue Refunding Bonds, EMA Obligated Group, Series 1999A, 5.625%, | 1/09 at 101.00 | BBB+ | 1,004,800 | ||||
1/01/25 RAAI Insured | ||||||||
1,065 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge | 7/17 at 100.00 | BBB+ | 893,652 | ||||
Retirement Community, Series 2007, 4.750%, 7/01/34 | ||||||||
| ||||||||
4,520 | Total Long-Term Care | 4,116,274 | ||||||
| ||||||||
Tax Obligation/General 34.8% (22.7% of Total Investments) | ||||||||
2,030 | Anne Arundel County, Maryland, General Obligation Bonds, Series 2004, 5.000%, 4/01/16 | 4/14 at 100.00 | AAA | 2,208,011 | ||||
Anne Arundel County, Maryland, General Obligation Bonds, Series 2006: | ||||||||
1,310 | 5.000%, 3/01/21 | 3/16 at 100.00 | AAA | 1,392,465 | ||||
1,000 | 5.000%, 3/01/21 | 3/16 at 100.00 | AAA | 1,062,950 | ||||
685 | Anne Arundel County, Maryland, Water and Sewer Revenue Bonds, Series 2006, 5.000%, 3/01/17 | 3/16 at 100.00 | AAA | 754,637 | ||||
Baltimore County, Maryland, Metropolitan District Special Assessment Bonds, 67th Issue: | ||||||||
2,500 | 5.000%, 6/01/25 | 6/11 at 101.00 | AAA | 2,561,775 | ||||
3,500 | 5.000%, 6/01/26 | 6/11 at 101.00 | AAA | 3,570,490 | ||||
1,000 | Baltimore, Maryland, Consolidated General Obligation Public Improvement Bonds, Series 1989B, | No Opt. Call | AA | 1,006,710 | ||||
7.150%, 10/15/08 | ||||||||
1,540 | Baltimore, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2004A, | 10/14 at 100.00 | AA | 1,598,289 | ||||
5.000%, 10/15/22 AMBAC Insured | ||||||||
700 | Carroll County, Maryland, Consolidated Public Improvement Bonds, Series 2005A, 5.000%, 12/01/16 | 12/15 at 100.00 | AA | 776,909 | ||||
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds, | ||||||||
Series 2006: | ||||||||
2,185 | 5.000%, 3/01/14 | No Opt. Call | AA | 2,409,574 | ||||
820 | 5.000%, 3/01/16 | No Opt. Call | AA | 912,004 | ||||
1,500 | Frederick County, Maryland, General Obligation Public Facilities Bonds, Series 2006, | No Opt. Call | AA+ | 1,646,700 | ||||
5.000%, 11/01/20 | ||||||||
Howard County, Maryland, Consolidated Public Improvement Bonds, Series 2004B: | ||||||||
1,625 | 5.000%, 8/15/17 | 2/14 at 100.00 | AAA | 1,763,938 | ||||
1,180 | 5.000%, 8/15/19 | 2/14 at 100.00 | AAA | 1,259,119 | ||||
1,725 | Howard County, Maryland, Metropolitan District Refunding Bonds, Series 2002A, 5.250%, 8/15/18 | 2/12 at 100.00 | AAA | 1,825,740 | ||||
1,190 | Maryland National Capital Park Planning Commission, Prince Georges County, General Obligation | 1/14 at 100.00 | AAA | 1,285,117 | ||||
Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17 | ||||||||
3,000 | Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series | No Opt. Call | AAA | 3,344,820 | ||||
2005A, 5.000%, 7/01/15 | ||||||||
3,520 | Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series | No Opt. Call | AAA | 3,935,182 | ||||
2006, 5.000%, 5/01/16 | ||||||||
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Refunding | ||||||||
Bonds, Series 2001: | ||||||||
1,750 | 5.250%, 10/01/13 | 10/11 at 101.00 | AAA | 1,894,585 | ||||
2,000 | 5.250%, 10/01/18 | 10/11 at 101.00 | AAA | 2,135,620 | ||||
2,000 | Prince Georges County, Maryland, General Obligation Consolidated Public Improvement Bonds, | 9/12 at 101.00 | AAA | 2,027,460 | ||||
Series 2002, 4.100%, 9/15/19 | ||||||||
5,770 | Prince Georges County, Maryland, General Obligation Consolidated Public Improvement Bonds, | 10/13 at 100.00 | AAA | 6,116,198 | ||||
Series 2003A, 5.000%, 10/01/18 | ||||||||
Washington Suburban Sanitary District, Montgomery and Prince Georges Counties, Maryland, | ||||||||
Sewerage Disposal Bonds, Series 2005: | ||||||||
2,000 | 5.000%, 6/01/16 | 6/15 at 100.00 | AAA | 2,210,020 | ||||
1,235 | 5.000%, 6/01/23 | 6/15 at 100.00 | AAA | 1,297,701 | ||||
1,235 | 5.000%, 6/01/24 | 6/15 at 100.00 | AAA | 1,293,996 | ||||
1,235 | 5.000%, 6/01/25 | 6/15 at 100.00 | AAA | 1,290,291 | ||||
| ||||||||
48,235 | Total Tax Obligation/General | 51,580,301 | ||||||
| ||||||||
Tax Obligation/Limited 15.2% (9.9% of Total Investments) | ||||||||
300 | Baltimore, Maryland, Special Obligation Bonds, North Locust Point Project, Series 2005, | 9/15 at 101.00 | N/R | 259,404 | ||||
5.500%, 9/01/34 | ||||||||
340 | Frederick County, Maryland, Lake Linganore Village Community Development Special Obligation | 7/10 at 102.00 | BBB+ | 338,331 | ||||
Bonds, Series 2001A, 5.700%, 7/01/29 RAAI Insured | ||||||||
900 | Hyattsville, Maryland, Special Obligation Bonds, University Town Center Project, Series 2004, | 7/14 at 102.00 | N/R | 806,157 | ||||
5.750%, 7/01/34 | ||||||||
Maryland Department of Transportation, Certificates of Participation, Mass Transit | ||||||||
Administration Project, Series 2000: | ||||||||
875 | 5.500%, 10/15/19 (Alternative Minimum Tax) | 10/10 at 101.00 | AA+ | 898,415 | ||||
925 | 5.500%, 10/15/20 (Alternative Minimum Tax) | 10/10 at 101.00 | AA+ | 935,009 | ||||
4,250 | Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2002, | No Opt. Call | AAA | 4,853,456 | ||||
5.500%, 2/01/16 | ||||||||
1,875 | Maryland Economic Development Corporation, Lease Revenue Bonds, Department of Transportation | 6/12 at 100.50 | AA+ | 2,002,763 | ||||
Headquarters Building, Series 2002, 5.375%, 6/01/19 | ||||||||
1,700 | Maryland Stadium Authority, Lease Revenue Bonds, Montgomery County Conference Center | 6/13 at 100.00 | AA+ | 1,759,517 | ||||
Facilities, Series 2003, 5.000%, 6/15/24 | ||||||||
1,000 | Montgomery County, Maryland, Lease Revenue Bonds, Metrorail Garage, Series 2002, | 6/12 at 100.00 | AA | 1,043,990 | ||||
5.000%, 6/01/21 | ||||||||
675 | Montgomery County, Maryland, Special Obligation Bonds, West Germantown Development District, | 7/12 at 101.00 | A | 657,956 | ||||
Senior Series 2002A, 5.500%, 7/01/27 RAAI Insured | ||||||||
635 | New Baltimore City Board of School Commissioners, Maryland, School System Revenue Bonds, | 11/10 at 100.00 | AA+ | 668,490 | ||||
Series 2000, 5.125%, 11/01/15 | ||||||||
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N: | ||||||||
1,000 | 5.500%, 7/01/29 AMBAC Insured | No Opt. Call | Aaa | 1,033,940 | ||||
2,500 | 5.250%, 7/01/31 AMBAC Insured | No Opt. Call | AA | 2,486,650 | ||||
1,000 | 5.250%, 7/01/33 MBIA Insured | No Opt. Call | AA | 993,060 | ||||
2,100 | Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21 FSA Insured | 8/12 at 100.00 | AAA | 2,150,673 | ||||
1,500 | Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA, | No Opt. Call | AA | 1,563,975 | ||||
5.500%, 7/01/19 MBIA Insured | ||||||||
| ||||||||
21,575 | Total Tax Obligation/Limited | 22,451,786 | ||||||
| ||||||||
Transportation 4.6% (3.0% of Total Investments) | ||||||||
1,060 | Baltimore, Maryland, Revenue Refunding Bonds, Parking System Facilities, Series 1998A, 5.250%, | No Opt. Call | A2 | 1,148,902 | ||||
7/01/17 FGIC Insured | ||||||||
4,335 | Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Series | 7/17 at 100.00 | AAA | 4,462,709 | ||||
2007, 5.000%, 7/01/30 FSA Insured (UB) | ||||||||
2,075 | Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series | 12/08 at 100.00 | CCC+ | 1,166,358 | ||||
1996A, 6.250%, 6/01/26 (Alternative Minimum Tax) | ||||||||
| ||||||||
7,470 | Total Transportation | 6,777,969 | ||||||
| ||||||||
U.S. Guaranteed 21.5% (14.0% of Total Investments) (4) | ||||||||
2,000 | Baltimore, Maryland, Revenue Refunding Bonds, Water Projects, Series 1998A, 5.000%, 7/01/28 | No Opt. Call | AA (4) | 2,112,880 | ||||
FGIC Insured (ETM) | ||||||||
2,000 | Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%, | No Opt. Call | AA (4) | 2,144,020 | ||||
7/01/24 FGIC Insured (ETM) | ||||||||
1,245 | Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31 | 7/16 at 100.00 | AA (4) | 1,385,087 | ||||
(Pre-refunded 7/01/16) AMBAC Insured | ||||||||
Frederick County, Maryland, Educational Facilities Revenue Bonds, Mount St. Marys College, | ||||||||
Series 2001A: | ||||||||
200 | 5.750%, 9/01/25 (Pre-refunded 3/01/10) | 3/10 at 101.00 | BBB (4) | 212,596 | ||||
200 | 5.800%, 9/01/30 (Pre-refunded 3/01/10) | 3/10 at 101.00 | BBB (4) | 212,744 | ||||
3,000 | Frederick County, Maryland, General Obligation Public Facilities Bonds, Series 1999, 5.250%, | 7/09 at 101.00 | AAA | 3,117,960 | ||||
7/01/18 (Pre-refunded 7/01/09) | ||||||||
275 | Frederick County, Maryland, Lake Linganore Village Community Development Special Obligation | 7/10 at 102.00 | BBB+ (4) | 297,919 | ||||
Bonds, Series 2001A, 5.700%, 7/01/29 (Pre-refunded 7/01/10) RAAI Insured | ||||||||
1,860 | Gaithersburg, Maryland, Hospital Facilities Revenue Refunding and Improvement Bonds, Shady | No Opt. Call | AAA | 2,014,436 | ||||
Grove Adventist Hospital, Series 1995, 6.500%, 9/01/12 FSA Insured (ETM) | ||||||||
575 | Howard County, Maryland, Consolidated Public Improvement Refunding Bonds, Series 2002A, | 2/12 at 100.00 | AAA | 626,514 | ||||
5.250%, 8/15/18 (Pre-refunded 2/15/12) | ||||||||
Maryland Economic Development Corporation, Health and Mental Hygiene Providers Revenue Bonds, | ||||||||
Series 1996A: | ||||||||
870 | 7.625%, 4/01/21 (Pre-refunded 4/01/11) | 4/11 at 102.00 | N/R (4) | 987,459 | ||||
660 | 7.625%, 4/01/21 (Pre-refunded 4/01/11) | 4/11 at 102.00 | N/R (4) | 749,107 | ||||
2,250 | Maryland Economic Development Corporation, Student Housing Revenue Bonds, Collegiate Housing | 6/09 at 102.00 | Baa2 (4) | 2,360,520 | ||||
Foundation College Park, Series 1999A, 5.750%, 6/01/24 (Pre-refunded 6/01/09) | ||||||||
3,200 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Helix Health, | No Opt. Call | AA (4) | 3,431,616 | ||||
Series 1997, 5.000%, 7/01/27 AMBAC Insured (ETM) | ||||||||
3,125 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Howard County | 1/08 at 100.00 | Aaa | 3,194,563 | ||||
General Hospital, Series 1993, 5.500%, 7/01/25 (ETM) | ||||||||
2,040 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health | 7/14 at 100.00 | A (4) | 2,240,144 | ||||
System, Series 2004A, 5.125%, 7/01/34 (Pre-refunded 7/01/14) | ||||||||
1,500 | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of | 7/12 at 100.00 | A (4) | 1,670,895 | ||||
Maryland Medical System, Series 2002, 6.000%, 7/01/22 (Pre-refunded 7/01/12) | ||||||||
195 | Maryland Transportation Authority, Revenue Refunding Bonds, Transportation Facilities | No Opt. Call | AAA | 225,046 | ||||
Projects, First Series 1978, 6.800%, 7/01/16 (ETM) | ||||||||
1,000 | Puerto Rico Infrastructure Financing Authority, Special Obligation Bonds, Series 2000A, | 10/10 at 101.00 | AAA | 1,044,470 | ||||
5.500%, 10/01/20 | ||||||||
1,000 | Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 1996Y, | 7/16 at 100.00 | Aaa | 1,154,180 | ||||
5.500%, 7/01/36 (Pre-refunded 7/01/16) | ||||||||
385 | Puerto Rico, The Childrens Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2000, | 7/10 at 100.00 | AAA | 402,922 | ||||
5.750%, 7/01/20 (Pre-refunded 7/01/10) | ||||||||
2,000 | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 1999A, 6.500%, | 10/10 at 101.00 | BBB+ (4) | 2,194,780 | ||||
10/01/24 (Pre-refunded 10/01/10) | ||||||||
| ||||||||
29,580 | Total U.S. Guaranteed | 31,779,858 | ||||||
| ||||||||
Utilities 4.0% (2.6% of Total Investments) | ||||||||
2,500 | Maryland Energy Financing Administration, Revenue Bonds, AES Warrior Run Project, Series 1995, | 9/08 at 100.00 | N/R | 2,436,150 | ||||
7.400%, 9/01/19 (Alternative Minimum Tax) | ||||||||
3,500 | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2004PP, 5.000%, 7/01/22 | 7/14 at 100.00 | A3 | 3,475,605 | ||||
FGIC Insured | ||||||||
| ||||||||
6,000 | Total Utilities | 5,911,755 | ||||||
| ||||||||
Water and Sewer 3.4% (2.2% of Total Investments) | ||||||||
1,045 | Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%, | No Opt. Call | AA | 1,089,193 | ||||
7/01/24 FGIC Insured | ||||||||
1,655 | Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31 | 7/16 at 100.00 | AA | 1,696,954 | ||||
AMBAC Insured | ||||||||
1,260 | Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2007D, 5.000%, 7/01/32 | 7/17 at 100.00 | AA | 1,263,490 | ||||
AMBAC Insured | ||||||||
860 | Maryland Water Quality Financing Administration, Revolving Loan Fund Revenue Bonds, Series | No Opt. Call | AAA | 959,889 | ||||
2005A, 5.000%, 9/01/15 | ||||||||
4,820 | Total Water and Sewer | 5,009,526 | ||||||
| ||||||||
$ 224,310 | Total Investments (cost $227,174,582) 153.4% | 227,052,085 | ||||||
|
| |||||||
Floating Rate Obligations (2.2)% | (3,250,000) | |||||||
| ||||||||
Other Assets Less Liabilities 2.2% | 3,313,998 | |||||||
| ||||||||
Preferred Shares, at Liquidation Value (53.4)% (5) | (79,100,000) | |||||||
| ||||||||
Net Assets Applicable to Common Shares 100% | $ | 148,016,083 | ||||||
|
(1) | All percentages shown in the Portfolio of Investments are based on net assets applicable to Common | |
shares unless otherwise noted. | ||
(2) | Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. | |
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities | ||
may be subject to periodic principal paydowns. | ||
(3) | Ratings: Using the higher of Standard & Poors Group (Standard & Poors) or Moodys Investor Service, | |
Inc. (Moodys) rating. Ratings below BBB by Standard & Poors or Baa by Moodys are considered to be | ||
below investment grade. | ||
The Portfolio of Investments may reflect the ratings on certain bonds insured by ACA, AMBAC, CIFG, FGIC, | ||
MBIA, RAAI and XLCA as of August 31, 2008. Subsequent to August 31, 2008, and during the period this | ||
Portfolio of Investments was prepared, there may have been reductions to the ratings of certain bonds | ||
resulting from changes to the ratings of the underlying insurers both during the period and after period end. | ||
Such reductions would likely reduce the effective rating of many of the bonds insured by that insurer or | ||
insurers presented at period end. | ||
(4) | Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities | |
which ensure the timely payment of principal and interest. Such investments are normally considered to | ||
be equivalent to AAA rated securities. | ||
(5) | Preferred Shares, at Liquidation Value as a percentage of total investments is (34.8)%. | |
N/R | Not rated. | |
WI/DD | Purchased on a when-issued or delayed delivery basis. | |
(ETM) | Escrowed to maturity. | |
(IF) | Inverse floating rate investment. | |
(UB) | Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the | |
provisions of SFAS No. 140. |
Fair Value Measurements
During the current fiscal period, the Fund adopted the provisions of Statement of Financial Accounting Standards No. 157, Fair Value Measurements (SFAS 157). SFAS 157 defines fair value, establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. In determining the value of the Funds investments various inputs are used. These inputs are summarized in the three broad levels listed below:
Level 1 Quoted prices in active markets for identical securities.
Level 2 Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
Level 3 Significant unobservable inputs (including managements assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
The following is a summary of the Funds fair value measurements as of August 31, 2008:
Level 1 | Level 2 | Level 3 | Total | |||||
| ||||||||
Investments | $ | $227,052,085 | $ | $227,052,085 | ||||
|
Income Tax Information
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No.140. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
At August 31, 2008, the cost of investments was $223,987,321.
Gross unrealized appreciation and gross unrealized depreciation of investments at August 31, 2008, were as follows:
| ||
Gross unrealized: | ||
Appreciation | $ 6,467,839 | |
Depreciation | (6,652,949) | |
| ||
Net unrealized appreciation (depreciation) of investments | $ (185,110) | |
|
Item 2. Controls and Procedures.
Item 3. Exhibits.
File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Nuveen Maryland Premium Income Municipal Fund
By (Signature and Title)
/s/ Kevin J.
McCarthy
Kevin
J.
McCarthy
Vice President and Secretary
Date October 30, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)
/s/ Gifford R.
Zimmerman
Gifford R.
Zimmerman
Chief Administrative Officer (principal executive officer)
Date October 30, 2008
By (Signature and Title)
/s/ Stephen D.
Foy
Stephen
D.
Foy
Vice President and Controller (principal financial officer)
Date October 30, 2008