Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
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:         8/31/13         
 
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, 2013
      
 
 
 
 
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Discretionary – 4.4% (2.8% of Total Investments)
      
   
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A:
      
$       540
  
5.000%, 9/01/16 – SYNCORA GTY Insured
No Opt. Call
BB+
$     562,664
400
  
5.250%, 9/01/19 – SYNCORA GTY Insured
9/16 at 100.00
BB+
412,928
185
  
5.250%, 9/01/25 – SYNCORA GTY Insured
9/16 at 100.00
BB+
179,239
350
  
5.250%, 9/01/27 – SYNCORA GTY Insured
9/16 at 100.00
BB+
329,795
250
  
4.600%, 9/01/30 – SYNCORA GTY Insured
9/16 at 100.00
BB+
211,595
100
  
5.000%, 9/01/32 – SYNCORA GTY Insured
9/16 at 100.00
BB+
87,622
12,140
  
5.250%, 9/01/39 – SYNCORA GTY Insured
9/16 at 100.00
BB+
10,575,640
1,000
  
Baltimore, Maryland, Subordinate Lien Convention Center Hotel Revenue Bonds, Series 2006B,
9/16 at 100.00
Ba2
950,880
   
5.875%, 9/01/39
      
2,000
  
Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference
12/16 at 100.00
N/R
1,159,960
   
Center, Series 2006A, 5.000%, 12/01/31
      
16,965
  
Total Consumer Discretionary
    
14,470,323
   
Consumer Staples – 7.1% (4.6% of Total Investments)
      
   
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds,
      
   
Series 2007A:
      
3,055
  
5.250%, 6/01/32
6/17 at 100.00
B
2,557,035
2,665
  
5.625%, 6/01/47
6/17 at 100.00
B
1,987,797
155,700
  
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Bonds, Series 2005A,
5/15 at 11.19
BB–
8,901,369
   
0.000%, 5/15/50
      
   
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
      
   
Series 2002:
      
6,715
  
5.375%, 5/15/33
11/13 at 100.00
BBB+
6,192,237
3,270
  
5.500%, 5/15/39
11/13 at 100.00
BBB
2,885,186
800
  
Tobacco Settlement Financing Corporation, Virgin Islands, Tobacco Settlement Asset-Backed
11/13 at 100.00
A3
727,200
   
Bonds, Series 2001, 5.000%, 5/15/31
      
172,205
  
Total Consumer Staples
    
23,250,824
   
Education and Civic Organizations – 14.8% (9.5% of Total Investments)
      
2,375
  
Frederick County, Maryland, Educational Facilities Revenue Bonds, Mount Saint Mary’s
9/16 at 100.00
BB+
2,090,713
   
University, Series 2006, 5.625%, 9/01/38
      
125
  
Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43 (WI/DD,
10/23 at 100.00
BBB
124,576
   
Settling 9/12/13) (Alternative Minimum Tax)
      
3,020
  
Hartford County, Maryland, Economic Development Revenue Bonds, Battelle Memorial Institute,
4/14 at 100.00
A+
3,050,683
   
Series 2004, 5.250%, 4/01/34
      
1,750
  
Maryland Health and Higher Educational Facilities Authority, Educational Facilities Leasehold
1/14 at 100.00
BB+
1,647,660
   
Mortgage Revenue Bonds, McLean School, Series 2001, 6.000%, 7/01/31
      
700
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College,
7/22 at 100.00
A–
700,448
   
Series 2012A, 5.000%, 7/01/34
      
530
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins
No Opt. Call
AA+
551,693
   
University, Series 2008A, 5.250%, 7/01/38
      
3,335
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins
No Opt. Call
AA+
3,739,669
   
University, Trust 1003, 13.947%, 3/13/14 (IF)
      
3,500
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute
6/16 at 100.00
Baa1
3,418,240
   
College of Art, Series 2006, 5.000%, 6/01/30
      
1,130
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute
6/17 at 100.00
Baa1
1,050,143
   
College of Art, Series 2007, 5.000%, 6/01/36
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute
      
   
College of Art, Series 2012:
      
1,500
  
5.000%, 6/01/34
No Opt. Call
Baa1
1,420,170
3,000
  
5.000%, 6/01/47
6/22 at 100.00
Baa1
2,784,960
745
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park
7/20 at 100.00
BBB–
744,926
   
Public Charter School Issue, Series 2010, 6.000%, 7/01/40
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, The Johns Hopkins
      
   
University, Series 2013B:
      
500
  
5.000%, 7/01/38
7/23 at 100.00
AA+
513,655
4,375
  
4.250%, 7/01/41
7/23 at 100.00
AA+
4,026,225
2,100
  
Maryland Industrial Development Financing Authority, Revenue Bonds, Our Lady of Good Counsel
5/15 at 100.00
N/R
2,158,821
   
High School, Series 2005A, 6.000%, 5/01/35
      
   
Montgomery County Revenue Authority, Maryland, Lease Revenue Bonds, Montgomery College Arts
      
   
Center Project, Series 2005A:
      
1,300
  
5.000%, 5/01/18
5/15 at 100.00
AA
1,383,291
1,365
  
5.000%, 5/01/19
5/15 at 100.00
AA
1,450,353
615
  
5.000%, 5/01/20
5/15 at 100.00
AA
652,718
625
  
Morgan State University, Maryland, Student Tuition and Fee Revenue Bonds, Academic Fees and
7/22 at 100.00
Aa3
648,000
   
Auxiliary Facilities, Series 2012, 5.000%, 7/01/29
      
9,445
  
Morgan State University, Maryland, Student Tuition and Fee Revenue Refunding Bonds, Academic
No Opt. Call
Aa3
11,059,339
   
Fees and Auxiliary Facilities, Series 1993, 6.100%, 7/01/20 – NPFG Insured
      
265
  
University of Puerto Rico, University System Revenue Bonds, Series 2006P, 5.000%, 6/01/23
6/16 at 100.00
BBB–
216,203
1,145
  
University of Puerto Rico, University System Revenue Bonds, Series 2006Q, 5.000%, 6/01/19
6/16 at 100.00
BBB–
1,044,412
   
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006:
      
2,000
  
5.000%, 11/01/31
11/16 at 100.00
BBB+
1,928,140
2,750
  
4.500%, 11/01/36
11/16 at 100.00
BBB+
2,359,858
48,195
  
Total Education and Civic Organizations
    
48,764,896
   
Health Care – 33.6% (21.6% of Total Investments)
      
500
  
Fredericksburg Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds,
No Opt. Call
Baa1
512,325
   
MediCorp Health System, Series 2007, 5.000%, 6/15/14
      
2,445
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds Doctors Community
7/20 at 100.00
Baa3
2,301,845
   
Hospital, Refunding Series 2010, 5.750%, 7/01/38
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist
      
   
Healthcare, Series 2011A:
      
1,350
  
6.250%, 1/01/31
1/22 at 100.00
Baa2
1,440,558
375
  
6.125%, 1/01/36
1/22 at 100.00
Baa2
397,283
1,500
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel
7/19 at 100.00
A–
1,740,210
   
Health System, Series 2009A, 6.750%, 7/01/39
      
2,500
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel
7/19 at 100.00
A–
2,443,825
   
Health System, Series 2010, 5.000%, 7/01/40
      
2,000
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Calvert Health
7/23 at 100.00
A
1,908,240
   
System Issue, Series 2013, 5.000%, 7/01/38
      
2,550
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital
7/16 at 100.00
A3
2,525,648
   
Center, Series 2006, 5.000%, 7/01/40
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital
      
   
Center, Series 2012A:
      
1,000
  
4.000%, 7/01/30
7/22 at 100.00
A3
860,850
1,775
  
5.000%, 7/01/37
7/22 at 100.00
A3
1,688,291
4,050
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Doctors Community
7/17 at 100.00
Baa3
3,810,888
   
Hospital, Series 2007A, 5.000%, 7/01/29
      
4,335
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Frederick Memorial
No Opt. Call
Baa1
3,743,012
   
Hospital Issue, Series 2012A, 4.250%, 7/01/32
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins
      
   
Health System Obligated Group Issue, Series 2011A:
      
500
  
5.000%, 5/15/25
5/21 at 100.00
AA–
535,870
500
  
5.000%, 5/15/26
5/21 at 100.00
AA–
532,265
4,225
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Kaiser Permanente
1/14 at 100.00
A+
4,240,675
   
System, Series 1998A, 5.375%, 7/01/15
      
2,735
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
7/17 at 100.00
AA–
2,753,297
   
System, Series 2008, 5.000%, 7/01/28 – AGC Insured
      
1,000
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
7/21 at 100.00
A
1,062,430
   
System, Series 2011, 6.000%, 7/01/41
      
1,250
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Loyola University
10/22 at 100.00
A
1,239,150
   
Maryland, Series 2012A, 5.000%, 10/01/39
      
4,060
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health,
8/14 at 100.00
A2
4,204,983
   
Series 2004, 5.375%, 8/15/24
      
7,720
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health,
5/16 at 100.00
AA+
7,866,912
   
Series 2007, 5.250%, 5/15/46 – BHAC Insured
      
2,850
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical
7/22 at 100.00
BBB
2,721,864
   
Center, Series 2011, 5.000%, 7/01/31
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical
      
   
Center Project, Series 2007A:
      
2,375
  
5.000%, 7/01/37
7/17 at 100.00
BBB
2,204,760
2,905
  
5.500%, 7/01/42
7/17 at 100.00
BBB
2,905,261
3,950
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional
7/16 at 100.00
A
3,811,592
   
Medical Center, Series 2006, 5.000%, 7/01/36
      
4,450
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, The Johns Hopkins
5/20 at 100.00
AA–
4,372,392
   
Health System Obligated Group Issue, Series 2010, 5.000%, 5/15/40
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Union Hospital of
      
   
Cecil County, Series 2005:
      
1,000
  
5.000%, 7/01/35
7/15 at 100.00
A
962,010
1,500
  
5.000%, 7/01/40
7/15 at 100.00
A
1,432,740
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of
      
   
Maryland Medical System Issue, Series 2013A:
      
11,500
  
5.000%, 7/01/43
7/22 at 100.00
A2
10,700,520
3,750
  
4.000%, 7/01/43
7/22 at 100.00
A2
2,882,325
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of
      
   
Maryland Medical System, Series 2006:
      
700
  
5.000%, 7/01/31
7/16 at 100.00
A2
688,198
1,325
  
5.000%, 7/01/36
7/16 at 100.00
A2
1,275,167
4,155
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of
7/19 at 100.00
A2
4,010,531
   
Maryland Medical System, Series 2010, 5.125%, 7/01/39
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Washington County
      
   
Hospital, Series 2008:
      
135
  
5.750%, 1/01/33
1/18 at 100.00
BBB
136,767
7,075
  
5.750%, 1/01/38
1/18 at 100.00
BBB
7,042,243
1,950
  
6.000%, 1/01/43
1/18 at 100.00
BBB
1,990,385
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Western Maryland
      
   
Health, Series 2006A:
      
2,910
  
4.500%, 1/01/22 – NPFG Insured
7/16 at 100.00
A
3,002,014
2,995
  
5.000%, 7/01/34 – NPFG Insured
7/16 at 100.00
A
2,853,217
8,000
  
Montgomery County, Maryland, Revenue Bonds, Trinity Health Credit Group, Refunding Series
12/21 at 100.00
AA
7,859,120
   
2011MD, 5.000%, 12/01/40
      
   
Prince George’s County, Maryland, Revenue Bonds, Dimensions Health Corporation, Series 1994:
      
1,850
  
5.375%, 7/01/14
1/14 at 100.00
B3
1,840,584
2,595
  
5.300%, 7/01/24
1/14 at 100.00
B3
2,293,487
114,340
  
Total Health Care
    
110,793,734
   
Housing/Multifamily – 5.7% (3.7% of Total Investments)
      
2,045
  
Anne Arundel County, Maryland, FNMA Multifamily Housing Revenue Bonds, Glenview Gardens
1/20 at 102.00
AA+
2,110,992
   
Apartments Project, Series 2009, 5.000%, 1/01/28 (Mandatory put 1/01/27)
      
2,500
  
Maryland Community Development Administration, Housing Revenue Bonds, Series 1999A, 5.350%,
1/14 at 100.00
Aa2
2,499,925
   
7/01/41 (Alternative Minimum Tax)
      
980
  
Maryland Community Development Administration, Housing Revenue Bonds, Series 2002B, 4.950%,
1/14 at 100.00
Aa2
979,980
   
7/01/32 (Alternative Minimum Tax)
      
2,110
  
Maryland Community Development Administration, Multifamily Housing Revenue Bonds, Princess
12/13 at 100.00
Aaa
2,110,591
   
Anne Apartments, Series 2001D, 5.450%, 12/15/33 (Alternative Minimum Tax)
      
   
Maryland Economic Development Corporation, Senior Lien Student Housing Revenue Bonds,
      
   
University of Maryland – Baltimore, Series 2003A:
      
30
  
5.000%, 10/01/15
10/13 at 100.00
B3
29,846
3,460
  
5.625%, 10/01/23
10/13 at 100.00
B3
3,185,449
   
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Salisbury University
      
   
Project, Refunding Series 2013:
      
500
  
5.000%, 6/01/27
6/23 at 100.00
Baa3
489,740
500
  
5.000%, 6/01/34
6/23 at 100.00
Baa3
465,735
1,500
  
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Sheppard Pratt
No Opt. Call
BBB–
1,474,890
   
University Village, Series 2012, 5.000%, 7/01/33
      
5,115
  
Maryland Economic Development Corporation, Student Housing Revenue Refunding Bonds, University
6/16 at 100.00
AA–
5,013,979
   
of Maryland College Park Projects, Series 2006, 5.000%, 6/01/33 – CIFG Insured
      
165
  
Montgomery County Housing Opportunities Commission, Maryland, GNMA/FHA-Insured Multifamily
1/14 at 100.00
Aa2
165,615
   
Housing Revenue Bonds, Series 1995A, 5.900%, 7/01/15
      
405
  
Montgomery County Housing Opportunities Commission, Maryland, Multifamily Housing Development
1/14 at 100.00
Aaa
405,405
   
Bonds, Series 2000B, 6.200%, 7/01/30 (Alternative Minimum Tax)
      
19,310
  
Total Housing/Multifamily
    
18,932,147
   
Housing/Single Family – 9.4% (6.1% of Total Investments)
      
5,425
  
Maryland Community Development Administration, Department of Housing and Community
9/14 at 100.00
Aa2
5,276,625
   
Development, Residential Revenue Bonds, Series 2005E, 4.900%, 9/01/36 (Alternative Minimum
      
   
Tax) (UB) (4)
      
1,800
  
Maryland Community Development Administration, Department of Housing and Community
9/15 at 100.00
Aa2
1,813,608
   
Development, Residential Revenue Bonds, Series 2006B, 4.750%, 9/01/25 (Alternative Minimum
      
   
Tax) (UB) (4)
      
2,345
  
Maryland Community Development Administration, Department of Housing and Community
9/15 at 100.00
Aa2
2,366,272
   
Development, Residential Revenue Bonds, Series 2006F, 4.900%, 9/01/26 (Alternative Minimum
      
   
Tax) (UB) (4)
      
7,500
  
Maryland Community Development Administration, Department of Housing and Community
3/16 at 100.00
Aa2
7,581,750
   
Development, Residential Revenue Bonds, Series 2006I, 4.875%, 9/01/26 (Alternative Minimum
      
   
Tax) (UB) (4)
      
4,075
  
Maryland Community Development Administration, Department of Housing and Community
9/16 at 100.00
Aa2
4,083,270
   
Development, Residential Revenue Bonds, Series 2006L, 4.900%, 9/01/31 (Alternative Minimum
      
   
Tax) (UB) (4)
      
2,820
  
Maryland Community Development Administration, Department of Housing and Community
3/17 at 100.00
Aa2
2,670,766
   
Development, Residential Revenue Bonds, Series 2007D, 4.850%, 9/01/37 (Alternative Minimum
      
   
Tax) (UB) (4)
      
1,500
  
Maryland Community Development Administration, Department of Housing and Community
3/17 at 100.00
Aa2
1,526,494
   
Development, Residential Revenue Bonds, Series 2007H, 5.000%, 9/01/27 (Alternative Minimum
      
   
Tax) (UB) (4)
      
840
  
Maryland Community Development Administration, Department of Housing and Community
9/18 at 100.00
Aa2
853,045
   
Development, Residential Revenue Bonds, Series 2008C, 5.375%, 9/01/39
      
3,000
  
Maryland Community Development Administration, Department of Housing and Community
9/18 at 100.00
Aa2
2,845,560
   
Development, Residential Revenue Bonds, Series 2009B, 4.750%, 9/01/39
      
2,080
  
Maryland Community Development Administration, Department of Housing and Community
3/20 at 100.00
Aa2
2,093,645
   
Development, Residential Revenue Bonds, Series 2010B, 5.250%, 9/01/35
      
31,385
  
Total Housing/Single Family
    
31,111,035
   
Industrials – 2.8% (1.8% of Total Investments)
      
5,895
  
Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation
6/20 at 100.00
Baa3
5,908,441
   
Facilities Project, Series 2010A, 5.750%, 6/01/35
      
3,340
  
Maryland Economic Development Corporation, Solid Waste Disposal Revenue Bonds, Waste
10/13 at 100.00
BBB
3,481,249
   
Management Inc., Series 2002, 4.600%, 4/01/16 (Alternative Minimum Tax)
      
9,235
  
Total Industrials
    
9,389,690
   
Long-Term Care – 5.9% (3.8% of Total Investments)
      
5,215
  
Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2007A, 5.000%, 1/01/37
1/17 at 100.00
A–
5,023,401
2,050
  
Gaithersburg, Maryland, Economic Development Revenue Bonds, Asbury Methodist Homes Inc.,
1/20 at 100.00
BBB
2,176,547
   
Series 2009B, 6.000%, 1/01/23
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Charlestown
      
   
Community Issue, Series 2010:
      
1,685
  
6.125%, 1/01/30
1/21 at 100.00
A
1,754,944
5,000
  
6.250%, 1/01/45
1/21 at 100.00
A
5,182,200
1,000
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Edenwald, Series
7/16 at 100.00
N/R
959,710
   
2006A, 5.400%, 1/01/31
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, King Farm
      
   
Presbyterian Community, Series 2007A:
      
780
  
5.000%, 1/01/17
No Opt. Call
N/R
779,236
1,460
  
5.250%, 1/01/27
1/17 at 100.00
N/R
1,327,841
2,480
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge
7/17 at 100.00
A–
2,295,736
   
Retirement Community, Series 2007, 4.750%, 7/01/34
      
19,670
  
Total Long-Term Care
    
19,499,615
   
Tax Obligation/General – 9.8% (6.3% of Total Investments)
      
1,565
  
Anne Arundel County, Maryland, General Obligation Bonds, Series 2006, 5.000%, 3/01/21
3/16 at 100.00
AAA
1,716,946
685
  
Anne Arundel County, Maryland, Water and Sewer Revenue Bonds, Series 2006, 5.000%, 3/01/17
3/16 at 100.00
AAA
752,541
350
  
Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series
No Opt. Call
AAA
365,551
   
2009, 5.000%, 8/01/14
      
2,020
  
Baltimore County, Maryland, General Obligation Bonds, Metropolitan District 73rd Issue, Series
No Opt. Call
AAA
2,036,604
   
2010, 5.000%, 11/01/13
      
   
Baltimore, Maryland, General Obligation Bonds, Consolidated Public Improvements, Series 2011A:
      
1,000
  
5.000%, 10/15/29
10/21 at 100.00
Aa2
1,059,490
1,200
  
5.000%, 10/15/30
10/21 at 100.00
Aa2
1,262,916
   
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds,
      
   
Series 2006:
      
2,145
  
5.000%, 3/01/14
No Opt. Call
AA+
2,197,424
805
  
5.000%, 3/01/16
No Opt. Call
AA+
892,866
1,500
  
Frederick County, Maryland, General Obligation Public Facilities Bonds, Series 2005,
No Opt. Call
AAA
1,566,360
   
5.000%, 8/01/14
      
1,820
  
Harford County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series
No Opt. Call
Aaa
1,841,694
   
2013A, 3.000%, 2/01/14
      
2,305
  
Maryland National Capital Park Planning Commission, Prince George’s County, General Obligation
1/14 at 100.00
AAA
2,345,153
   
Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17
      
95
  
Maryland, General Obligation Bonds, State and Local Facilities Loan, Second Series 2009B,
No Opt. Call
AAA
99,624
   
5.250%, 8/15/14
      
1,000
  
Maryland, General Obligation Bonds, State and Local Facilities Loan, Second Series 2010B,
No Opt. Call
AAA
1,044,430
   
5.000%, 8/01/14
      
5,850
  
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
No Opt. Call
AAA
6,344,559
   
2005A, 5.000%, 7/01/15
      
2,800
  
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
No Opt. Call
AAA
3,123,932
   
2006A, 5.000%, 5/01/16
      
1,315
  
Prince George’s County, Maryland, General Obligation Consolidated Public Improvement Bonds,
No Opt. Call
AAA
1,393,216
   
Series 2004F, 5.000%, 12/01/15
      
2,270
  
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/20 –
No Opt. Call
A
2,127,035
   
NPFG Insured
      
2,155
  
Puerto Rico, General Obligation Bonds, Public Improvement Refunding Series 2007A, 5.500%,
No Opt. Call
A
2,019,278
   
7/01/20 – NPFG Insured
      
30,880
  
Total Tax Obligation/General
    
32,189,619
   
Tax Obligation/Limited – 26.6% (17.1% of Total Investments)
      
1,200
  
Anne Arundel County, Maryland, Consolidated Special Taxing District Revenue Bonds, Villages of
7/23 at 100.00
A+
1,211,064
   
Dorchester & Farmington Village Projects, Series 2013, 5.000%, 7/01/32
      
865
  
Anne Arundel County, Maryland, Special Obligation Bonds, National Business Park – North
7/18 at 102.00
N/R
882,300
   
Project, Series 2010, 6.100%, 7/01/40
      
385
  
Baltimore County, Maryland, Certificates of Participation, Equipment Acquisition Program,
No Opt. Call
AA+
400,177
   
Series 2012, 4.000%, 10/01/14
      
120
  
Baltimore, Maryland, Revenue Refunding Bonds, Convention Center, Series 1998, 5.000%, 9/01/19 –
3/14 at 100.00
A
120,397
   
NPFG Insured
      
300
  
Baltimore, Maryland, Special Obligation Bonds, North Locust Point Project, Series 2005,
9/15 at 101.00
N/R
283,932
   
5.500%, 9/01/34
      
   
Frederick County, Maryland, Lake Linganore Village Community Development Special Obligation
      
   
Bonds, Series 2001A:
      
110
  
5.600%, 7/01/20 – RAAI Insured
1/14 at 100.00
N/R
110,422
450
  
5.700%, 7/01/29 – RAAI Insured
1/14 at 100.00
N/R
438,296
   
Fredrick County, Maryland, Special Obligation Bonds, Urbana Community Development Authority,
      
   
Series 2010A:
      
5,350
  
5.000%, 7/01/30
7/20 at 100.00
A–
5,417,624
2,355
  
5.000%, 7/01/40
7/20 at 100.00
A–
2,341,058
1,000
  
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.250%, 1/01/36
1/22 at 100.00
A
1,003,270
2,050
  
Hyattsville, Maryland, Special Obligation Bonds, University Town Center Project, Series 2004,
7/14 at 102.00
N/R
1,931,285
   
5.750%, 7/01/34
      
11,750
  
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2002,
No Opt. Call
AAA
13,132,146
   
5.500%, 2/01/16
      
2,380
  
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2004,
No Opt. Call
AAA
2,513,304
   
5.000%, 11/01/14
      
1,000
  
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2006,
No Opt. Call
AAA
1,022,100
   
5.000%, 2/15/14
      
920
  
Maryland Stadium Authority, Lease Revenue Bonds, Montgomery County Conference Center, Series
No Opt. Call
AA+
946,938
   
2012, 4.000%, 6/15/14
      
1,675
  
Montgomery County, Maryland, Special Obligation Bonds, West Germantown Development District,
7/14 at 100.00
A+
1,680,511
   
Senior Series 2002A, 5.500%, 7/01/27 – RAAI Insured
      
3,000
  
Prince George’s County, Maryland, Certificates of Participation, Equipment Acquisition
No Opt. Call
AA+
3,092,640
   
Program, Series 2012, 3.000%, 10/15/14
      
740
  
Prince George’s County, Maryland, Lease Revenue Bonds, Upper Marlboro Justice Center, Series
12/13 at 100.00
AA+
742,901
   
2003A, 5.000%, 6/30/14 – NPFG Insured
      
6,650
  
Prince George’s County, Maryland, Special Obligation Bonds, National Harbor Project, Series
7/15 at 100.00
N/R
6,364,915
   
2005, 5.200%, 7/01/34
      
1,411
  
Prince George’s County, Maryland, Special Tax District Bonds, Victoria Falls Project, Series
1/14 at 100.00
N/R
1,270,337
   
2005, 5.250%, 7/01/35
      
1,000
  
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2005L, 5.250%,
No Opt. Call
A
726,230
   
7/01/35 – NPFG Insured
      
   
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N:
      
1,100
  
5.500%, 7/01/29 – AMBAC Insured
No Opt. Call
Baa3
872,069
7,025
  
5.250%, 7/01/31 – AMBAC Insured
No Opt. Call
BBB
5,237,700
1,535
  
5.250%, 7/01/32 – NPFG Insured
No Opt. Call
A
1,150,529
1,850
  
5.250%, 7/01/33 – NPFG Insured
No Opt. Call
A
1,373,070
1,000
  
Puerto Rico Highway and Transportation Authority, Subordinate Lien Highway Revenue Bonds,
1/14 at 100.00
BBB–
1,000,520
   
Series 2003, 5.250%, 7/01/15 – FGIC Insured
      
   
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A:
      
2,000
  
0.000%, 7/01/33 – FGIC Insured
No Opt. Call
BBB+
397,420
1,530
  
0.000%, 7/01/44 – AMBAC Insured
No Opt. Call
BBB+
118,728
5,605
  
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005C,
No Opt. Call
BBB+
4,547,000
   
5.500%, 7/01/26 – AMBAC Insured
      
2,100
  
Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21 – AGM Insured
2/14 at 100.00
AA–
2,103,003
525
  
Puerto Rico Public Buildings Authority, Guaranteed Government Facilities Revenue Bonds, Series
7/14 at 100.00
BBB–
384,206
   
2004I, 5.250%, 7/01/33
      
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate
      
   
Series 2009A:
      
970
  
0.000%, 8/01/32
8/26 at 100.00
A+
802,956
1,500
  
5.750%, 8/01/37
8/19 at 100.00
A+
1,289,895
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate
      
   
Series 2010A:
      
1,425
  
5.375%, 8/01/39
2/20 at 100.00
A+
1,155,490
200
  
5.500%, 8/01/42
2/20 at 100.00
A+
162,990
4,310
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
8/20 at 100.00
A+
3,398,823
   
2010C, 5.250%, 8/01/41
      
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
      
7,000
  
0.000%, 8/01/40 – NPFG Insured
No Opt. Call
AA–
989,240
8,000
  
0.000%, 8/01/41 – NPFG Insured
No Opt. Call
AA–
1,049,280
210
  
0.000%, 8/01/47 – AMBAC Insured
No Opt. Call
AA–
17,680
12,140
  
0.000%, 8/01/56
No Opt. Call
AA–
533,310
   
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA:
      
520
  
5.500%, 7/01/19 – NPFG Insured
No Opt. Call
A
499,054
2,350
  
5.300%, 7/01/35
7/20 at 100.00
BBB+
1,690,214
820
  
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2005BB,
No Opt. Call
AA–
761,214
   
5.250%, 7/01/22 – AGM Insured
      
   
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2007CC:
      
765
  
5.500%, 7/01/28 – NPFG Insured
No Opt. Call
A
624,018
1,200
  
5.500%, 7/01/30
No Opt. Call
BBB+
934,212
2,300
  
5.500%, 7/01/30 – AGM Insured
No Opt. Call
AA–
1,979,978
2,000
  
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%,
10/14 at 100.00
BBB+
2,019,600
   
10/01/26 – RAAI Insured
      
2,000
  
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2006, 5.000%,
10/16 at 100.00
A
1,981,960
   
10/01/27 – FGIC Insured
      
3,500
  
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien
10/20 at 100.00
BBB
3,383,450
   
Series 2010A, 5.000%, 10/01/29
      
1,645
  
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate
10/20 at 100.00
Baa2
1,636,084
   
Lien Series 2010B, 5.250%, 10/01/29
      
121,836
  
Total Tax Obligation/Limited
    
87,725,540
   
Transportation – 6.3% (4.1% of Total Investments)
      
   
Baltimore, Maryland, Revenue Refunding Bonds, Parking System Facilities, Series 1998A:
      
1,060
  
5.250%, 7/01/17 – FGIC Insured
No Opt. Call
A1
1,154,276
110
  
5.250%, 7/01/21 – FGIC Insured
No Opt. Call
A1
122,117
265
  
Guam International Airport Authority, Revenue Bonds, Series 2003A, 5.250%, 10/01/21 –
10/13 at 100.00
A
265,827
   
NPFG Insured
      
725
  
Guam International Airport Authority, Revenue Bonds, Series 2003B, 5.250%, 10/01/19 –
10/13 at 100.00
A
727,262
   
NPFG Insured
      
   
Maryland Health and Higher Educational Facilities Authority, Parking Facilities Revenue Bonds,
      
   
Johns Hopkins Hospital, Series 2001:
      
1,300
  
5.000%, 7/01/27 – AMBAC Insured
1/14 at 100.00
N/R
1,299,987
1,000
  
5.000%, 7/01/34 – AMBAC Insured
1/14 at 100.00
N/R
927,840
750
  
Maryland Health and Higher Educational Facilities Authority, Parking Facilities Revenue Bonds,
1/15 at 100.00
N/R
786,173
   
Johns Hopkins Medical Institution, Series 2004B, 5.000%, 7/01/15 – AMBAC Insured
      
460
  
Maryland Health and Higher Educational Facilities Authority, Parking Revenue Bonds, Johns Hopkins
1/14 at 100.00
A
460,317
   
Medical Institutions Parking Facilities, Series 1996, 5.500%, 7/01/26 – AMBAC Insured
      
2,000
  
Maryland Transportation Authority, Revenue Bonds, Grant Anticipation Series 2008,
No Opt. Call
AAA
2,227,700
   
5.250%, 3/01/16
      
10,110
  
Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Series
7/17 at 100.00
AA–
10,651,693
   
2007, 5.000%, 7/01/30 – AGM Insured (UB)
      
   
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
      
   
Terminal LLC, Sixth Series 1997:
      
20
  
5.750%, 12/01/22 – NPFG Insured (Alternative Minimum Tax)
12/13 at 100.00
A
20,471
70
  
5.750%, 12/01/25 – NPFG Insured (Alternative Minimum Tax)
12/13 at 100.00
A
71,388
2,075
  
Puerto Rico Ports Authority, Special Facilities Revenue Bonds, American Airlines Inc., Series
12/13 at 100.00
N/R
2,064,625
   
1996A, 6.250%, 6/01/26 (Alternative Minimum Tax) (5)
      
19,945
  
Total Transportation
    
20,779,676
   
U.S. Guaranteed – 22.4% (14.5% of Total Investments) (6)
      
2,030
  
Anne Arundel County, Maryland, General Obligation Bonds, Series 2004, 5.000%, 4/01/16
4/14 at 100.00
AAA
2,087,591
   
(Pre-refunded 4/01/14)
      
500
  
Baltimore County, Maryland, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 5.000%,
9/16 at 100.00
Aa3 (6)
563,475
   
9/01/36 (Pre-refunded 9/01/16)
      
1,540
  
Baltimore, Maryland, General Obligation Consolidated Public Improvement Bonds, Series 2004A,
10/14 at 100.00
Aa2 (6)
1,623,160
   
5.000%, 10/15/22 (Pre-refunded 10/15/14) – AMBAC Insured
      
3,120
  
Baltimore, Maryland, Revenue Refunding Bonds, Water Projects, Series 1998A, 5.000%, 7/01/28 –
No Opt. Call
AA (6)
3,499,548
   
FGIC Insured (ETM)
      
2,000
  
Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%,
No Opt. Call
AA (6)
2,294,800
   
7/01/24 – FGIC Insured (ETM)
      
1,500
  
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31
7/16 at 100.00
AA (6)
1,681,020
   
(Pre-refunded 7/01/16) – AMBAC Insured
      
1,680
  
Carroll County, Maryland, Consolidated Public Improvement Bonds, Series 2005A, 5.000%,
12/15 at 100.00
AAA
1,850,184
   
12/01/16 (Pre-refunded 12/01/15)
      
   
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds,
      
   
Series 2006:
      
40
  
5.000%, 3/01/14 (ETM)
No Opt. Call
Aa1 (6)
40,970
15
  
5.000%, 3/01/16 (ETM)
No Opt. Call
Aa1 (6)
16,623
1,910
  
Frederick, Maryland, General Obligation Bonds, Series 2005, 5.000%, 8/01/16 (Pre-refunded
8/15 at 100.00
AA (6)
2,075,635
   
8/01/15) – NPFG Insured
      
   
Howard County, Maryland, General Obligation Consolidated Public Improvement Bonds,
      
   
Series 2004B:
      
1,000
  
5.000%, 8/15/16 (Pre-refunded 2/15/14)
2/14 at 100.00
AAA
1,022,190
1,625
  
5.000%, 8/15/17 (Pre-refunded 2/15/14)
2/14 at 100.00
AAA
1,661,059
1,180
  
5.000%, 8/15/19 (Pre-refunded 2/15/14)
2/14 at 100.00
AAA
1,206,184
750
  
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2004,
5/14 at 100.00
AAA
774,300
   
5.000%, 5/01/15 (Pre-refunded 5/01/14)
      
3,075
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Calvert Memorial
7/14 at 100.00
A (6)
3,210,146
   
Hospital, Series 2004, 5.500%, 7/01/36 (Pre-refunded 7/01/14)
      
4,865
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Civista Medical
7/14 at 100.00
N/R (6)
5,057,265
   
Center, Series 2005, 5.000%, 7/01/37 (Pre-refunded 7/01/14) – RAAI Insured
      
2,875
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College,
7/14 at 100.00
A– (6)
2,994,341
   
Series 2004, 5.125%, 7/01/34 (Pre-refunded 7/01/14)
      
   
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Helix Health,
      
   
Series 1997:
      
1,265
  
5.000%, 7/01/17 – AMBAC Insured (ETM)
No Opt. Call
N/R (6)
1,378,546
3,240
  
5.000%, 7/01/27 – AMBAC Insured (ETM)
No Opt. Call
N/R (6)
3,726,162
3,125
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Howard County
11/13 at 100.00
N/R (6)
3,152,344
   
General Hospital, Series 1993, 5.500%, 7/01/25 (ETM)
      
3,875
  
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
7/14 at 100.00
N/R (6)
4,032,170
   
System, Series 2004A, 5.125%, 7/01/34 (Pre-refunded 7/01/14)
      
885
  
Maryland National Capital Park Planning Commission, Prince George’s County, General Obligation
1/14 at 100.00
Aaa
900,797
   
Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17 (Pre-refunded 1/15/14)
      
1,200
  
Maryland Transportation Authority, Revenue Refunding Bonds, Transportation Facilities
No Opt. Call
Aaa
1,332,876
   
Projects, First Series 1978, 6.800%, 7/01/16 – AMBAC Insured (ETM)
      
2,350
  
Maryland, General Obligation Bonds, State and Local Facilities Loan, First Series 2004,
8/14 at 100.00
AAA
2,454,011
   
5.000%, 8/01/15 (Pre-refunded 8/01/14)
      
   
Prince George’s County, Maryland, General Obligation Consolidated Public Improvement Bonds,
      
   
Series 2003A:
      
1,500
  
5.000%, 10/01/17 (Pre-refunded 10/01/13)
10/13 at 100.00
AAA
1,506,270
5,770
  
5.000%, 10/01/18 (Pre-refunded 10/01/13)
10/13 at 100.00
AAA
5,794,119
1,315
  
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003,
12/13 at 100.00
Aaa
1,331,122
   
5.000%, 12/01/19 (Pre-refunded 12/01/13)
      
1,100
  
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A,
No Opt. Call
Aaa
1,240,041
   
5.125%, 6/01/24 – AMBAC Insured (ETM)
      
1,000
  
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 1996Y,
7/16 at 100.00
Aaa
1,134,090
   
5.500%, 7/01/36 (Pre-refunded 7/01/16)
      
1,610
  
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
No Opt. Call
Baa1 (6)
1,938,134
   
5.500%, 7/01/19 – NPFG Insured (ETM)
      
3,135
  
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A, 5.000%,
10/16 at 100.00
AA+ (6)
3,533,490
   
10/01/22 (Pre-refunded 10/01/16)
      
   
Washington Suburban Sanitary District, Montgomery and Prince George’s Counties, Maryland,
      
   
Sewerage Disposal Bonds, Series 2005:
      
4,500
  
5.000%, 6/01/16 (Pre-refunded 6/01/15)
6/15 at 100.00
AAA
4,860,630
1,235
  
5.000%, 6/01/23 (Pre-refunded 6/01/15)
6/15 at 100.00
AAA
1,333,973
1,235
  
5.000%, 6/01/24 (Pre-refunded 6/01/15)
6/15 at 100.00
AAA
1,333,973
1,235
  
5.000%, 6/01/25 (Pre-refunded 6/01/15)
6/15 at 100.00
AAA
1,333,973
69,280
  
Total U.S. Guaranteed
    
73,975,212
   
Utilities – 2.3% (1.5% of Total Investments)
      
550
  
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2002LL, 5.500%, 7/01/17 –
No Opt. Call
A
557,838
   
NPFG Insured
      
3,600
  
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2004PP, 5.000%, 7/01/22 –
7/14 at 100.00
A
3,105,432
   
FGIC Insured
      
1,570
  
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2005RR, 5.000%, 7/01/22 –
7/15 at 100.00
A
1,354,313
   
FGIC Insured
      
1,040
  
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010XX, 5.250%, 7/01/40
7/20 at 100.00
BBB
728,530
1,225
  
Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds, Series 2002JJ, 5.250%,
No Opt. Call
A
1,248,973
   
7/01/15 – NPFG Insured
      
730
  
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series
7/17 at 100.00
BB+
712,071
   
2007A, 5.000%, 7/01/24
      
8,715
  
Total Utilities
    
7,707,157
   
Water and Sewer – 4.1% (2.6% of Total Investments)
      
2,690
  
Baltimore, Maryland, Revenue Refunding Bonds, Wastewater Projects, Series 2002A, 5.125%,
1/14 at 100.00
AA
2,697,371
   
7/01/42 – NPFG Insured
      
1,045
  
Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%,
No Opt. Call
AA
1,187,622
   
7/01/24 – FGIC Insured
      
2,570
  
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2006C, 5.000%, 7/01/31 –
7/16 at 100.00
AA
2,645,481
   
AMBAC Insured
      
3,000
  
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2007D, 5.000%, 7/01/32 –
7/17 at 100.00
AA
3,095,760
   
AMBAC Insured
      
2,000
  
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2011A, 5.000%, 7/01/41
7/21 at 100.00
AA
2,012,760
1,645
  
Maryland Water Quality Financing Administration, Revolving Loan Fund Revenue Bonds, Series
No Opt. Call
AAA
1,795,369
   
2005A, 5.000%, 9/01/15
      
12,950
  
Total Water and Sewer
    
13,434,363
$     694,911
  
Total Investments (cost $520,968,261) – 155.2%
    
512,023,831
   
Floating Rate Obligations – (6.7)%
    
(21,995,000)
   
MuniFund Term Preferred Shares, at Liquidation Value – (50.4)% (7)
    
(166,144,000)
   
Other Assets Less Liabilities – 1.9%
    
6,048,680
   
Net Assets Applicable to Common Shares – 100%
    
$   329,933,511
 
 
 
 
 
Fair Value Measurements
 
Fair value is defined as the price that the Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
 
Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
 
Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
 
 
Level 1
    
Level 2
    
Level 3
    
Total
  
Long-Term Investments:
                      
   Municipal Bonds
 $ —     $ 512,023,831     $ —     $ 512,023,831  
 
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 securities reflected as financing transactions, if any. 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.
 
As of August 31, 2013, the cost of investments was $500,390,130.
 
Gross unrealized appreciation and gross unrealized depreciation of investments as of August 31, 2013, were as follows:
     
Gross unrealized:
    
   Appreciation
 $ 17,517,738  
   Depreciation
   (27,879,041 )
Net unrealized appreciation (depreciation) of investments
 $ (10,361,303 )
 
(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 highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of these national rating agencies.
(4)
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse floating rate transactions.
(5)
At or subsequent to the end of the reporting period, this security is non-income producing. Non-income producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has directed the Fund’s custodian to cease accruing additional income on the Fund’s records.
(6)
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. Certain bonds backed by U.S. Government or agency securities are regarded as having an implied rating equal to the rating of such securities.
(7)
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 32.4%. WI/DD Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
WI/DD
Investment, or portion of investment, 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.
 
 
 
 
 
Item 2. Controls and Procedures.

a.  
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
 
b.  
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
 
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.

 
 
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(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, 2013        
 
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, 2013        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         October 30, 2013