Portfolio of Investments (Unaudited)
|
|||||
Nuveen Maryland Premium Income Municipal Fund (NMY)
|
|||||
August 31, 2014
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
LONG-TERM INVESTMENTS – 148.7% (100.0% of Total Investments)
|
|||||
MUNICIPAL BONDS – 147.8% (99.4% of Total Investments)
|
|||||
Consumer Discretionary – 4.7% (3.2% 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+
|
$ 575,710
|
|
400
|
5.250%, 9/01/19 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
423,524
|
|
285
|
5.250%, 9/01/25 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
294,382
|
|
350
|
5.250%, 9/01/27 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
359,814
|
|
535
|
4.600%, 9/01/30 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
535,251
|
|
100
|
5.000%, 9/01/32 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
100,547
|
|
12,165
|
5.250%, 9/01/39 – SYNCORA GTY Insured
|
9/16 at 100.00
|
BB+
|
12,301,856
|
|
1,000
|
Baltimore, Maryland, Subordinate Lien Convention Center Hotel Revenue Bonds, Series 2006B,
|
9/16 at 100.00
|
Ba2
|
1,013,550
|
|
5.875%, 9/01/39
|
|||||
2,000
|
Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference
|
12/16 at 100.00
|
N/R
|
936,780
|
|
Center, Series 2006A, 5.000%, 12/01/31 (4)
|
|||||
17,375
|
Total Consumer Discretionary
|
16,541,414
|
|||
Consumer Staples – 2.5% (1.7% of Total Investments)
|
|||||
1,000
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
6/17 at 100.00
|
B–
|
813,880
|
|
Bonds, Senior Lien, Series 2007A-2, 5.875%, 6/01/30
|
|||||
Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds,
|
|||||
Series 2007A:
|
|||||
2,825
|
5.250%, 6/01/32
|
6/17 at 100.00
|
B
|
2,413,482
|
|
2,665
|
5.625%, 6/01/47
|
6/17 at 100.00
|
B
|
2,027,399
|
|
3,270
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
|
11/14 at 100.00
|
BBB
|
2,874,134
|
|
Series 2002, 5.500%, 5/15/39
|
|||||
800
|
Tobacco Settlement Financing Corporation, Virgin Islands, Tobacco Settlement Asset-Backed
|
11/14 at 100.00
|
A3
|
765,424
|
|
Bonds, Series 2001, 5.000%, 5/15/31
|
|||||
10,560
|
Total Consumer Staples
|
8,894,319
|
|||
Education and Civic Organizations – 13.3% (9.0% of Total Investments)
|
|||||
2,375
|
Frederick County, Maryland, Educational Facilities Revenue Bonds, Mount Saint Mary’s
|
9/16 at 100.00
|
BB+
|
2,373,433
|
|
University, Series 2006, 5.625%, 9/01/38
|
|||||
700
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Goucher College,
|
7/22 at 100.00
|
A–
|
771,155
|
|
Series 2012A, 5.000%, 7/01/34
|
|||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Johns Hopkins
|
|||||
University, Series 2008A:
|
|||||
2,000
|
5.000%, 7/01/18
|
No Opt. Call
|
AA+
|
2,322,280
|
|
530
|
5.250%, 7/01/38
|
No Opt. Call
|
AA+
|
593,340
|
|
1,250
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Loyola University
|
10/22 at 100.00
|
A
|
1,368,613
|
|
Maryland, Series 2012A, 5.000%, 10/01/39
|
|||||
3,500
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Maryland Institute
|
6/16 at 100.00
|
Baa1
|
3,580,360
|
|
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
|
1,160,770
|
|
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
|
1,634,040
|
|
3,000
|
5.000%, 6/01/47
|
6/22 at 100.00
|
Baa1
|
3,218,430
|
|
745
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Patterson Park
|
7/20 at 100.00
|
BBB–
|
776,610
|
|
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 2012A:
|
|||||
1,145
|
5.000%, 7/01/30
|
No Opt. Call
|
AA+
|
1,341,803
|
|
1,050
|
5.000%, 7/01/37
|
No Opt. Call
|
AA+
|
1,194,501
|
|
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+
|
570,240
|
|
4,375
|
4.250%, 7/01/41
|
7/23 at 100.00
|
AA+
|
4,672,194
|
|
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
|
1,341,249
|
|
1,365
|
5.000%, 5/01/19
|
5/15 at 100.00
|
AA
|
1,408,189
|
|
615
|
5.000%, 5/01/20
|
5/15 at 100.00
|
AA
|
634,120
|
|
625
|
Morgan State University, Maryland, Student Tuition and Fee Revenue Bonds, Academic Fees and
|
7/22 at 100.00
|
A+
|
706,819
|
|
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
|
AA–
|
10,993,319
|
|
Fees and Auxiliary Facilities, Series 1993, 6.100%, 7/01/20 – NPFG Insured
|
|||||
300
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A,
|
No Opt. Call
|
AA+
|
301,326
|
|
5.000%, 10/01/14
|
|||||
265
|
University of Puerto Rico, University System Revenue Bonds, Series 2006P, 5.000%, 6/01/23
|
6/16 at 100.00
|
BB
|
168,506
|
|
1,145
|
University of Puerto Rico, University System Revenue Bonds, Series 2006Q, 5.000%, 6/01/19
|
6/16 at 100.00
|
BB
|
750,708
|
|
Westminster, Maryland, Educational Facilities Revenue Bonds, McDaniel College, Series 2006:
|
|||||
2,000
|
5.000%, 11/01/31
|
11/16 at 100.00
|
BBB+
|
2,052,640
|
|
2,750
|
4.500%, 11/01/36
|
11/16 at 100.00
|
BBB+
|
2,773,348
|
|
43,610
|
Total Education and Civic Organizations
|
46,707,993
|
|||
Health Care – 33.8% (22.7% of Total Investments)
|
|||||
2,445
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds Doctors Community
|
7/20 at 100.00
|
Baa3
|
2,544,829
|
|
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
|
1,569,402
|
|
375
|
6.125%, 1/01/36
|
1/22 at 100.00
|
Baa2
|
430,361
|
|
1,355
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel
|
No Opt. Call
|
A–
|
1,571,732
|
|
Health System Issue, Series 2012, 5.000%, 7/01/24
|
|||||
1,500
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Anne Arundel
|
7/19 at 100.00
|
A–
|
1,817,385
|
|
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–
|
2,650,625
|
|
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
|
2,200,740
|
|
System Issue, Series 2013, 5.000%, 7/01/38
|
|||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Carroll Hospital
|
|||||
Center, Series 2006:
|
|||||
1,000
|
4.500%, 7/01/26
|
7/16 at 100.00
|
A3
|
1,027,420
|
|
2,550
|
5.000%, 7/01/40
|
7/16 at 100.00
|
A3
|
2,615,153
|
|
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
|
1,031,900
|
|
1,775
|
5.000%, 7/01/37
|
7/22 at 100.00
|
A3
|
1,915,651
|
|
4,050
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Doctors Community
|
7/17 at 100.00
|
Baa3
|
4,102,610
|
|
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
|
4,445,282
|
|
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–
|
574,695
|
|
500
|
5.000%, 5/15/26
|
5/21 at 100.00
|
AA–
|
570,060
|
|
2,735
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
|
7/17 at 100.00
|
AA
|
2,865,186
|
|
System, Series 2008, 5.000%, 7/01/28 – AGC Insured
|
|||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, LifeBridge Health
|
|||||
System, Series 2011:
|
|||||
500
|
5.750%, 7/01/31
|
No Opt. Call
|
A
|
567,870
|
|
1,000
|
6.000%, 7/01/41
|
7/21 at 100.00
|
A
|
1,148,860
|
|
4,060
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health,
|
11/14 at 100.00
|
A2
|
4,077,661
|
|
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+
|
8,181,965
|
|
Series 2007, 5.250%, 5/15/46 – BHAC Insured
|
|||||
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
|
2,447,010
|
|
2,905
|
5.500%, 7/01/42
|
7/17 at 100.00
|
BBB
|
3,059,749
|
|
2,850
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical
|
7/22 at 100.00
|
BBB
|
3,041,976
|
|
Center, Series 2011, 5.000%, 7/01/31
|
|||||
3,950
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Peninsula Regional
|
7/16 at 100.00
|
A
|
4,084,419
|
|
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–
|
4,805,733
|
|
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
|
1,011,090
|
|
6,620
|
5.000%, 7/01/40
|
7/15 at 100.00
|
A
|
6,681,367
|
|
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
|
12,537,300
|
|
3,750
|
4.000%, 7/01/43
|
7/22 at 100.00
|
A2
|
3,823,238
|
|
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
|
719,390
|
|
1,325
|
5.000%, 7/01/36
|
7/16 at 100.00
|
A2
|
1,357,900
|
|
4,155
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of
|
7/19 at 100.00
|
A2
|
4,424,410
|
|
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
|
140,550
|
|
7,075
|
5.750%, 1/01/38
|
1/18 at 100.00
|
BBB
|
7,336,987
|
|
1,950
|
6.000%, 1/01/43
|
1/18 at 100.00
|
BBB
|
2,030,399
|
|
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
|
AA–
|
3,091,962
|
|
3,190
|
5.000%, 7/01/34 – NPFG Insured
|
7/16 at 100.00
|
AA–
|
3,257,213
|
|
8,000
|
Montgomery County, Maryland, Revenue Bonds, Trinity Health Credit Group, Refunding Series
|
12/21 at 100.00
|
Aa2
|
8,792,240
|
|
2011MD, 5.000%, 12/01/40
|
|||||
112,090
|
Total Health Care
|
118,552,320
|
|||
Housing/Multifamily – 7.1% (4.8% of Total Investments)
|
|||||
2,025
|
Anne Arundel County, Maryland, FNMA Multifamily Housing Revenue Bonds, Glenview Gardens
|
1/20 at 102.00
|
AA+
|
2,219,360
|
|
Apartments Project, Series 2009, 5.000%, 1/01/28 (Mandatory put 1/01/27)
|
|||||
Howard County Housing Commission, Maryland, Revenue Bonds, Columbia Commons Apartments,
|
|||||
Series 2014A:
|
|||||
1,500
|
4.000%, 6/01/34
|
6/24 at 100.00
|
A+
|
1,526,040
|
|
1,550
|
5.000%, 6/01/44
|
6/24 at 100.00
|
A+
|
1,665,661
|
|
Howard County Housing Commission, Maryland, Revenue Bonds, The Verona at Oakland Mills
|
|||||
Project, Series 2013:
|
|||||
3,000
|
5.000%, 10/01/28
|
10/23 at 100.00
|
A+
|
3,310,170
|
|
2,000
|
4.625%, 10/01/28
|
10/23 at 100.00
|
A+
|
2,165,320
|
|
2,110
|
Maryland Community Development Administration, Multifamily Housing Revenue Bonds, Princess
|
12/14 at 100.00
|
Aaa
|
2,112,321
|
|
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:
|
|||||
15
|
5.000%, 10/01/15
|
11/14 at 100.00
|
B3
|
14,981
|
|
3,460
|
5.625%, 10/01/23
|
11/14 at 100.00
|
B3
|
3,284,613
|
|
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
|
545,620
|
|
500
|
5.000%, 6/01/34
|
6/23 at 100.00
|
Baa3
|
535,215
|
|
1,500
|
Maryland Economic Development Corporation, Student Housing Revenue Bonds, Sheppard Pratt
|
No Opt. Call
|
BBB–
|
1,593,780
|
|
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
|
5,378,064
|
|
of Maryland College Park Projects, Series 2006, 5.000%, 6/01/33 – CIFG Insured
|
|||||
85
|
Montgomery County Housing Opportunities Commission, Maryland, GNMA/FHA-Insured Multifamily
|
11/14 at 100.00
|
Aa2
|
85,359
|
|
Housing Revenue Bonds, Series 1995A, 5.900%, 7/01/15
|
|||||
405
|
Montgomery County Housing Opportunities Commission, Maryland, Multifamily Housing Development
|
1/15 at 100.00
|
Aaa
|
405,749
|
|
Bonds, Series 2000B, 6.200%, 7/01/30 (Alternative Minimum Tax)
|
|||||
23,765
|
Total Housing/Multifamily
|
24,842,253
|
|||
Housing/Single Family – 8.1% (5.4% of Total Investments)
|
|||||
3,000
|
Maryland Community Development Administration Department of Housing and Community
|
9/18 at 100.00
|
Aa2
|
3,114,570
|
|
Development, Residential Revenue Bonds, Series 2009B, 4.750%, 9/01/39
|
|||||
1,990
|
Maryland Community Development Administration Department of Housing and Community
|
3/20 at 100.00
|
Aa2
|
2,156,284
|
|
Development, Residential Revenue Bonds, Series 2010B, 5.250%, 9/01/35
|
|||||
2,365
|
Maryland Community Development Administration Department of Housing and Community
|
9/23 at 100.00
|
Aa2
|
2,522,296
|
|
Development, Residential Revenue Bonds, Series 2014A, 4.300%, 9/01/32
|
|||||
1,800
|
Maryland Community Development Administration, Department of Housing and Community
|
9/15 at 100.00
|
Aa2
|
1,825,506
|
|
Development, Residential Revenue Bonds, Series 2006B, 4.750%, 9/01/25 (Alternative
|
|||||
Minimum Tax) (UB) (5)
|
|||||
2,345
|
Maryland Community Development Administration, Department of Housing and Community
|
9/15 at 100.00
|
Aa2
|
2,378,440
|
|
Development, Residential Revenue Bonds, Series 2006F, 4.900%, 9/01/26 (Alternative
|
|||||
Minimum Tax) (UB) (5)
|
|||||
7,500
|
Maryland Community Development Administration, Department of Housing and Community
|
3/16 at 100.00
|
Aa2
|
7,656,600
|
|
Development, Residential Revenue Bonds, Series 2006I, 4.875%, 9/01/26 (Alternative
|
|||||
Minimum Tax) (UB) (5)
|
|||||
4,075
|
Maryland Community Development Administration, Department of Housing and Community
|
9/16 at 100.00
|
Aa2
|
4,154,175
|
|
Development, Residential Revenue Bonds, Series 2006L, 4.900%, 9/01/31 (Alternative
|
|||||
Minimum Tax) (UB) (5)
|
|||||
2,820
|
Maryland Community Development Administration, Department of Housing and Community
|
3/17 at 100.00
|
Aa2
|
2,865,176
|
|
Development, Residential Revenue Bonds, Series 2007D, 4.850%, 9/01/37 (Alternative
|
|||||
Minimum Tax) (UB) (5)
|
|||||
1,500
|
Maryland Community Development Administration, Department of Housing and Community
|
3/17 at 100.00
|
Aa2
|
1,561,574
|
|
Development, Residential Revenue Bonds, Series 2007H, 5.000%, 9/01/27 (Alternative
|
|||||
Minimum Tax) (UB) (5)
|
|||||
27,395
|
Total Housing/Single Family
|
28,234,621
|
|||
Industrials – 2.8% (1.9% of Total Investments)
|
|||||
5,895
|
Maryland Economic Development Corporation, Economic Development Revenue Bonds, Transportation
|
6/20 at 100.00
|
Baa3
|
6,334,060
|
|
Facilities Project, Series 2010A, 5.750%, 6/01/35
|
|||||
3,340
|
Maryland Economic Development Corporation, Solid Waste Disposal Revenue Bonds, Waste
|
No Opt. Call
|
A–
|
3,513,546
|
|
Management Inc., Series 2002, 4.600%, 4/01/16 (Alternative Minimum Tax)
|
|||||
9,235
|
Total Industrials
|
9,847,606
|
|||
Long-Term Care – 6.3% (4.2% 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
|
5,344,123
|
|
2,050
|
Gaithersburg, Maryland, Economic Development Revenue Bonds, Asbury Methodist Homes Inc.,
|
1/20 at 100.00
|
BBB
|
2,308,649
|
|
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
|
1,882,634
|
|
5,060
|
6.250%, 1/01/45
|
1/21 at 100.00
|
A
|
5,637,650
|
|
1,000
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Edenwald, Series
|
7/16 at 100.00
|
N/R
|
1,032,240
|
|
2006A, 5.400%, 1/01/31
|
|||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, King Farm
|
|||||
Presbyterian Community, Series 2007A:
|
|||||
600
|
5.000%, 1/01/17
|
No Opt. Call
|
N/R
|
636,240
|
|
1,460
|
5.250%, 1/01/27
|
1/17 at 100.00
|
N/R
|
1,491,434
|
|
1,050
|
5.300%, 1/01/37
|
1/17 at 100.00
|
N/R
|
1,062,065
|
|
2,480
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge
|
7/17 at 100.00
|
A–
|
2,541,380
|
|
Retirement Community, Series 2007, 4.750%, 7/01/34
|
|||||
20,600
|
Total Long-Term Care
|
21,936,415
|
|||
Tax Obligation/General – 18.2% (12.2% 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
|
1,672,656
|
|
685
|
Anne Arundel County, Maryland, Water and Sewer Revenue Bonds, Series 2006, 5.000%, 3/01/17
|
3/16 at 100.00
|
AAA
|
733,676
|
|
Baltimore, Maryland, General Obligation Bonds, Consolidated Public Improvements, Series 2011A:
|
|||||
1,000
|
5.000%, 10/15/29
|
10/21 at 100.00
|
AA
|
1,153,450
|
|
1,200
|
5.000%, 10/15/30
|
10/21 at 100.00
|
AA
|
1,376,568
|
|
805
|
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
863,000
|
|
2006, 5.000%, 3/01/16
|
|||||
1,180
|
Frederick County, Maryland, General Obligation Public Facilities Bonds, Refunding Series 2013,
|
No Opt. Call
|
AAA
|
1,203,222
|
|
3.000%, 5/01/15
|
|||||
2,305
|
Maryland National Capital Park Planning Commission, Prince George’s County, General Obligation
|
1/15 at 100.00
|
AAA
|
2,347,228
|
|
Bonds, Park Acquisition and Development, Series 2004EE-2, 5.000%, 1/15/17
|
|||||
1,000
|
Maryland State, General Obligation Bonds, State & Local Facilities Loan, First Series 2011B,
|
No Opt. Call
|
AAA
|
1,115,540
|
|
5.000%, 3/15/17
|
|||||
1,895
|
Maryland State, General Obligation Bonds, State & Local Facilities Loan, Second Series 2009A,
|
No Opt. Call
|
AAA
|
2,032,937
|
|
3.000%, 8/15/17
|
|||||
Maryland State, General Obligation Bonds, State & Local Facilities Loan, Second Series 2009B:
|
|||||
4,925
|
5.250%, 8/15/16
|
No Opt. Call
|
AAA
|
5,403,168
|
|
3,750
|
5.250%, 8/15/17
|
No Opt. Call
|
AAA
|
4,270,575
|
|
1,000
|
Maryland State, General Obligation Bonds, State & Local Facilities Loan, Second Series 2010A,
|
No Opt. Call
|
AAA
|
1,036,050
|
|
4.000%, 8/01/15
|
|||||
5,705
|
Maryland State, General Obligation Bonds, State and Local Facilities Loan, First Series 2014C,
|
No Opt. Call
|
AAA
|
5,963,265
|
|
5.000%, 8/01/15
|
|||||
3,435
|
Maryland State, General Obligation Bonds, State and Local Facilities Loan, Refunding Second
|
No Opt. Call
|
AAA
|
3,590,502
|
|
Series 2011E, 5.000%, 8/01/15
|
|||||
5,850
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
6,091,547
|
|
2005A, 5.000%, 7/01/15
|
|||||
2,800
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
3,022,208
|
|
2006A, 5.000%, 5/01/16
|
|||||
4,750
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
4,965,033
|
|
2008A, 5.000%, 8/01/15
|
|||||
4,700
|
Montgomery County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
AAA
|
4,913,051
|
|
2013A, 4.000%, 11/01/15
|
|||||
1,315
|
Prince George’s County, Maryland, General Obligation Consolidated Public Improvement Bonds,
|
No Opt. Call
|
AAA
|
1,331,556
|
|
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
|
AA–
|
2,357,168
|
|
NPFG Insured
|
|||||
2,155
|
Puerto Rico, General Obligation Bonds, Public Improvement Refunding Series 2007A, 5.500%,
|
No Opt. Call
|
AA–
|
2,237,752
|
|
7/01/20 – NPFG Insured
|
|||||
1,025
|
Washington Suburban Sanitary District, Montgomery and Prince George’s Counties, Maryland,
|
No Opt. Call
|
AAA
|
1,151,762
|
|
General Obligation Bonds, Consolidated Public Improvement, Refunding Series 2009,
|
|||||
5.000%, 6/01/17
|
|||||
Washington Suburban Sanitary District, Montgomery and Prince George’s Counties, Maryland,
|
|||||
General Obligation Bonds, Consolidated Public Improvement, Refunding Series 2013:
|
|||||
2,000
|
3.000%, 6/01/15
|
No Opt. Call
|
AAA
|
2,044,200
|
|
2,700
|
4.000%, 6/01/17
|
No Opt. Call
|
AAA
|
2,960,091
|
|
60,015
|
Total Tax Obligation/General
|
63,836,205
|
|||
Tax Obligation/Limited – 18.4% (12.4% of Total Investments)
|
|||||
865
|
Anne Arundel County, Maryland, Special Obligation Bonds, National Business Park – North
|
7/18 at 102.00
|
N/R
|
926,329
|
|
Project, Series 2010, 6.100%, 7/01/40
|
|||||
1,200
|
Anne Arundel County, Maryland, Special Tax District Revenue Bonds, Villages of Dorchester &
|
7/23 at 100.00
|
A+
|
1,346,928
|
|
Farmington Village Projects, Series 2013, 5.000%, 7/01/32
|
|||||
385
|
Baltimore County, Maryland, Certificates of Participation, Equipment Acquisition Program,
|
No Opt. Call
|
AA+
|
386,355
|
|
Series 2012, 4.000%, 10/01/14
|
|||||
120
|
Baltimore, Maryland, Revenue Refunding Bonds, Convention Center, Series 1998, 5.000%,
|
9/14 at 100.00
|
AA–
|
120,446
|
|
9/01/19 – NPFG Insured
|
|||||
300
|
Baltimore, Maryland, Special Obligation Bonds, North Locust Point Project, Series 2005,
|
9/15 at 101.00
|
N/R
|
306,726
|
|
5.500%, 9/01/34
|
|||||
Frederick County, Maryland, Lake Linganore Village Community Development Special Obligation
|
|||||
Bonds, Series 2001A:
|
|||||
99
|
5.600%, 7/01/20 – RAAI Insured
|
1/15 at 100.00
|
N/R
|
99,782
|
|
450
|
5.700%, 7/01/29 – RAAI Insured
|
1/15 at 100.00
|
N/R
|
451,607
|
|
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–
|
5,815,878
|
|
2,355
|
5.000%, 7/01/40
|
7/20 at 100.00
|
A–
|
2,507,321
|
|
1,780
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
6/15 at 100.00
|
A1
|
1,814,176
|
|
Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/45
|
|||||
1,000
|
Government of Guam, Business Privilege Tax Bonds, Series 2011A, 5.250%, 1/01/36
|
1/22 at 100.00
|
A
|
1,085,050
|
|
2,050
|
Hyattsville, Maryland, Special Obligation Bonds, University Town Center Project, Series 2004,
|
7/16 at 100.00
|
N/R
|
2,092,825
|
|
5.750%, 7/01/34
|
|||||
11,750
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2002,
|
No Opt. Call
|
AAA
|
12,632,778
|
|
5.500%, 2/01/16
|
|||||
2,380
|
Maryland Department of Transportation, Consolidated Transportation Revenue Bonds, Series 2004,
|
No Opt. Call
|
AAA
|
2,400,373
|
|
5.000%, 11/01/14
|
|||||
3,000
|
Prince George’s County, Maryland, Certificates of Participation, Equipment Acquisition
|
No Opt. Call
|
AA+
|
3,011,340
|
|
Program, Series 2012, 3.000%, 10/15/14
|
|||||
6,650
|
Prince George’s County, Maryland, Special Obligation Bonds, National Harbor Project, Series
|
7/15 at 100.00
|
N/R
|
6,695,752
|
|
2005, 5.200%, 7/01/34
|
|||||
1,406
|
Prince George’s County, Maryland, Special Tax District Bonds, Victoria Falls Project, Series
|
1/15 at 100.00
|
N/R
|
1,410,176
|
|
2005, 5.250%, 7/01/35
|
|||||
1,100
|
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2007N, 5.500%,
|
No Opt. Call
|
Caa1
|
1,019,854
|
|
7/01/29 – AMBAC Insured
|
|||||
1,530
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A,
|
No Opt. Call
|
BB
|
208,631
|
|
0.000%, 7/01/44 – AMBAC Insured
|
|||||
2,100
|
Puerto Rico Municipal Finance Agency, Series 2002A, 5.250%, 8/01/21 – AGM Insured
|
11/14 at 100.00
|
AA
|
2,095,086
|
|
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–
|
1,316,840
|
|
8,000
|
0.000%, 8/01/41 – NPFG Insured
|
No Opt. Call
|
AA–
|
1,410,960
|
|
210
|
0.000%, 8/01/47 – AMBAC Insured
|
No Opt. Call
|
BBB
|
25,160
|
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2007CC:
|
|||||
765
|
5.500%, 7/01/28 – NPFG Insured
|
No Opt. Call
|
AA–
|
764,426
|
|
2,300
|
5.500%, 7/01/30 – AGM Insured
|
No Opt. Call
|
AA
|
2,333,902
|
|
1,750
|
Rhode Island Convention Center Authority, Lease Revenue Bonds, Series 2005A, 5.000%, 5/15/21 –
|
5/15 at 100.00
|
AA
|
1,808,048
|
|
AGM Insured
|
|||||
2,000
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Series 2003, 5.000%,
|
10/14 at 100.00
|
BBB+
|
2,003,320
|
|
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
|
AA–
|
2,113,040
|
|
10/01/27 – FGIC Insured
|
|||||
300
|
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Working Capital
|
10/24 at 100.00
|
BBB+
|
324,048
|
|
Series 2014A, 5.000%, 10/01/34 (WI/DD, Settling 9/05/14)
|
|||||
3,500
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Senior Lien
|
10/20 at 100.00
|
BBB
|
3,832,745
|
|
Series 2010A, 5.000%, 10/01/29
|
|||||
1,825
|
Virgin Islands Public Finance Authority, Matching Fund Loan Notes Revenue Bonds, Subordinate
|
10/20 at 100.00
|
Baa2
|
2,021,388
|
|
Lien Series 2010B, 5.250%, 10/01/29
|
|||||
75,520
|
Total Tax Obligation/Limited
|
64,381,290
|
|||
Transportation – 5.5% (3.7% 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
|
AA–
|
1,133,617
|
|
110
|
5.250%, 7/01/21 – FGIC Insured
|
No Opt. Call
|
AA–
|
124,941
|
|
125
|
Guam International Airport Authority, Revenue Bonds, Series 2013C, 6.375%, 10/01/43
|
10/23 at 100.00
|
BBB
|
140,730
|
|
(Alternative Minimum Tax)
|
|||||
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
|
1/15 at 100.00
|
N/R
|
1,301,976
|
|
1,000
|
5.000%, 7/01/34 – AMBAC Insured
|
1/15 at 100.00
|
N/R
|
1,001,110
|
|
750
|
Maryland Health and Higher Educational Facilities Authority, Parking Facilities Revenue Bonds,
|
1/15 at 100.00
|
N/R
|
760,568
|
|
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
|
11/14 at 100.00
|
A
|
460,814
|
|
Hopkins Medical Institutions Parking Facilities, Series 1996, 5.500%, 7/01/26 – AMBAC Insured
|
|||||
Maryland Transportation Authority, Revenue Bonds, Grant Anticipation Series 2008:
|
|||||
1,000
|
5.250%, 3/01/15
|
No Opt. Call
|
AAA
|
1,025,880
|
|
2,000
|
5.250%, 3/01/16
|
No Opt. Call
|
AAA
|
2,148,660
|
|
10,110
|
Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Series
|
7/17 at 100.00
|
AA
|
11,045,377
|
|
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)
|
12/14 at 100.00
|
AA–
|
20,124
|
|
70
|
5.750%, 12/01/25 – NPFG Insured (Alternative Minimum Tax)
|
12/14 at 100.00
|
AA–
|
70,197
|
|
18,005
|
Total Transportation
|
19,233,994
|
|||
U.S. Guaranteed – 19.1% (12.8% of Total Investments) (6)
|
|||||
500
|
Baltimore County, Maryland, Revenue Bonds, Catholic Health Initiatives, Series 2006A, 5.000%,
|
9/16 at 100.00
|
A+ (6)
|
545,910
|
|
9/01/36 (Pre-refunded 9/01/16)
|
|||||
1,540
|
Baltimore, Maryland, General Obligation Bonds, Consolidated Public Improvements, Series 2004A,
|
10/14 at 100.00
|
AA (6)
|
1,549,671
|
|
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)
|
3,767,182
|
|
FGIC Insured (ETM)
|
|||||
2,000
|
Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%,
|
No Opt. Call
|
AA (6)
|
2,470,040
|
|
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)
|
1,631,655
|
|
(Pre-refunded 7/01/16) – AMBAC Insured
|
|||||
1,680
|
Carroll County, Maryland, General Obligation Consolidated Public Improvement Bonds, Series
|
12/15 at 100.00
|
AAA
|
1,782,446
|
|
2005A, 5.000%, 12/01/16 (Pre-refunded 12/01/15)
|
|||||
15
|
Charles County, Maryland, Consolidated General Obligation Public Improvement Bonds, Series
|
No Opt. Call
|
Aa1 (6)
|
16,082
|
|
2006, 5.000%, 3/01/16 (ETM)
|
|||||
1,910
|
Frederick, Maryland, General Obligation Bonds, Series 2005, 5.000%, 8/01/16 (Pre-refunded
|
8/15 at 100.00
|
AA (6)
|
1,995,816
|
|
8/01/15) – NPFG Insured
|
|||||
5,335
|
Maryland Community Development Administration, Department of Housing and Community
|
10/14 at 100.00
|
Aa2 (6)
|
5,337,989
|
|
Development, Residential Revenue Bonds, Series 2005E, 4.900%, 9/01/36 (Alternative
|
|||||
Minimum Tax) (Pre-refunded 10/27/14) (UB) (5)
|
|||||
1,750
|
Maryland Health and Higher Educational Facilities Authority, Educational Facilities Leasehold
|
10/14 at 100.00
|
BB (6)
|
1,750,368
|
|
Mortgage Revenue Bonds, McLean School, Series 2001, 6.000%, 7/01/31 (Pre-refunded 10/01/14)
|
|||||
510
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, College of Notre
|
No Opt. Call
|
A3 (6)
|
512,040
|
|
Dame of Maryland, Series 1998, 4.600%, 10/01/14 – NPFG Insured (ETM)
|
|||||
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Helix Health,
|
|||||
Series 1997:
|
|||||
970
|
5.000%, 7/01/17 – AMBAC Insured (ETM)
|
No Opt. Call
|
N/R (6)
|
1,047,862
|
|
3,240
|
5.000%, 7/01/27 – AMBAC Insured (ETM)
|
No Opt. Call
|
N/R (6)
|
3,962,585
|
|
3,125
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Howard County
|
1/15 at 100.00
|
N/R (6)
|
3,420,469
|
|
General Hospital, Series 1993, 5.500%, 7/01/25 (ETM)
|
|||||
4,225
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Kaiser Permanente
|
10/14 at 100.00
|
A+ (6)
|
4,244,815
|
|
System, Series 1998A, 5.375%, 7/01/15 (Pre-refunded 10/01/14)
|
|||||
2,100
|
Maryland Industrial Development Financing Authority, Revenue Bonds, Our Lady of Good Counsel
|
5/15 at 100.00
|
N/R (6)
|
2,179,506
|
|
High School, Series 2005A, 6.000%, 5/01/35 (Pre-refunded 5/01/15)
|
|||||
5,000
|
Maryland State, General Obligation Bonds, State & Local Facilities Loan, First Series 2005A,
|
2/15 at 100.00
|
AAA
|
5,113,248
|
|
5.000%, 2/15/16 (Pre-refunded 2/15/15)
|
|||||
2,110
|
Maryland State, General Obligation Bonds, State & Local Facilities Loan, Second Series 2009B,
|
8/19 at 100.00
|
AAA
|
2,513,327
|
|
5.000%, 8/15/21 (Pre-refunded 8/15/19)
|
|||||
1,090
|
Maryland State, General Obligation Bonds, State & Local Facilities Loan, Series 2006A, 5.000%,
|
3/16 at 100.00
|
AAA
|
1,168,589
|
|
3/01/17 (Pre-refunded 3/01/16)
|
|||||
825
|
Maryland Transportation Authority, Revenue Refunding Bonds, Transportation Facilities
|
No Opt. Call
|
Aaa
|
889,730
|
|
Projects, First Series 1978, 6.800%, 7/01/16 – AMBAC Insured (ETM)
|
|||||
4,000
|
Metropolitan Washington D.C. Airports Authority, District of Columbia, Airport System Revenue
|
10/14 at 100.00
|
AA– (6)
|
4,017,279
|
|
Bonds, Series 2004D, 5.000%, 10/01/18 (Pre-refunded 10/01/14) – NPFG Insured (Alternative
|
|||||
Minimum Tax)
|
|||||
1,100
|
Puerto Rico Public Finance Corporation, Commonwealth Appropriation Bonds, Series 1998A,
|
No Opt. Call
|
Aaa
|
1,327,601
|
|
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
|
1,094,600
|
|
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
|
A3 (6)
|
1,934,898
|
|
5.500%, 7/01/19 – NPFG Insured (ETM)
|
|||||
650
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2005A, 5.000%,
|
4/15 at 100.00
|
Aa1 (6)
|
668,571
|
|
4/01/18 (Pre-refunded 4/01/15)
|
|||||
3,135
|
University of Maryland, Auxiliary Facility and Tuition Revenue Bonds, Series 2006A, 5.000%,
|
10/16 at 100.00
|
AA+ (6)
|
3,439,503
|
|
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
|
4,666,993
|
|
1,235
|
5.000%, 6/01/23 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,280,831
|
|
1,235
|
5.000%, 6/01/24 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,280,831
|
|
1,235
|
5.000%, 6/01/25 (Pre-refunded 6/01/15)
|
6/15 at 100.00
|
AAA
|
1,280,831
|
|
62,245
|
Total U.S. Guaranteed
|
66,891,268
|
|||
Utilities – 3.3% (2.2% of Total Investments)
|
|||||
1,250
|
Guam Power Authority, Revenue Bonds, Series 2012A, 5.000%, 10/01/30 – AGM Insured
|
10/22 at 100.00
|
AA
|
1,409,675
|
|
3,600
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2004PP, 5.000%, 7/01/22 –
|
11/14 at 100.00
|
AA–
|
3,600,214
|
|
NPFG Insured
|
|||||
1,570
|
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2005RR, 5.000%, 7/01/22 –
|
7/15 at 100.00
|
AA–
|
1,572,072
|
|
FGIC Insured
|
|||||
1,225
|
Puerto Rico Electric Power Authority, Power Revenue Refunding Bonds, Series 2002JJ, 5.250%,
|
No Opt. Call
|
AA–
|
1,242,714
|
|
7/01/15 – NPFG Insured
|
|||||
730
|
Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series
|
7/17 at 100.00
|
BB+
|
730,905
|
|
2007A, 5.000%, 7/01/24
|
|||||
3,000
|
Wisconsin Public Power Incorporated System, Power Supply System Revenue Bonds, Series 2005A,
|
7/15 at 100.00
|
AA+
|
3,098,550
|
|
5.000%, 7/01/35 – AMBAC Insured
|
|||||
11,375
|
Total Utilities
|
11,654,130
|
|||
Water and Sewer – 4.7% (3.2% of Total Investments)
|
|||||
2,500
|
Baltimore, Maryland, Project and Revenue Refunding Bonds, Water Projects, Series 2013B,
|
1/24 at 100.00
|
AA
|
2,861,775
|
|
5.000%, 7/01/38
|
|||||
1,045
|
Baltimore, Maryland, Revenue Refunding Bonds, Water System Projects, Series 1994A, 5.000%,
|
No Opt. Call
|
AA
|
1,202,555
|
|
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
|
2,730,317
|
|
AMBAC Insured
|
|||||
3,000
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2007D, 5.000%, 7/01/32 –
|
7/17 at 100.00
|
AA
|
3,271,438
|
|
AMBAC Insured
|
|||||
2,000
|
Baltimore, Maryland, Wastewater Project Revenue Bonds, Series 2011A, 5.000%, 7/01/41
|
7/21 at 100.00
|
AA
|
2,218,820
|
|
300
|
Guam Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding
|
7/24 at 100.00
|
A–
|
325,332
|
|
Series 2014A, 5.000%, 7/01/35
|
|||||
2,030
|
Guam Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013,
|
7/23 at 100.00
|
A–
|
2,269,946
|
|
5.500%, 7/01/43
|
|||||
1,645
|
Maryland Water Quality Financing Administration, Revolving Loan Fund Revenue Bonds, Series
|
No Opt. Call
|
AAA
|
1,725,786
|
|
2005A, 5.000%, 9/01/15
|
|||||
15,090
|
Total Water and Sewer
|
16,605,969
|
|||
$ 506,880
|
Total Municipal Bonds (cost $495,596,651)
|
518,159,797
|
|||
Shares
|
Description (1)
|
Value
|
|||
COMMON STOCKS – 0.9% (0.6% of Total Investments)
|
|||||
Airlines – 0.9% (0.6% of Total Investments)
|
|||||
79,607
|
American Airlines Group Inc., (7)
|
$ 3,097,508
|
|||
Total Common Stocks (cost $2,473,540)
|
3,097,508
|
||||
Total Long-Term Investments (cost $498,070,191)
|
521,257,305
|
||||
Floating Rate Obligations – (6.3)%
|
(21,935,000)
|
||||
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (47.6)% (8)
|
(167,000,000)
|
||||
Other Assets Less Liabilities – 5.2%
|
18,127,748
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 350,450,053
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Long-Term Investments:
|
||||
Municipal Bonds
|
$ —
|
$518,159,797
|
$ —
|
$518,159,797
|
Common Stocks
|
3,097,508
|
—
|
—
|
3,097,508
|
Total
|
$3,097,508
|
$518,159,797
|
$ —
|
$521,257,305
|
Gross unrealized appreciation and gross unrealized depreciation of investments as of August 31, 2014, were as follows:
|
|
Gross unrealized:
|
|
Appreciation
|
$27,123,539
|
Depreciation
|
(5,441,156)
|
Net unrealized appreciation (depreciation) of investments
|
$21,682,383
|
(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)
|
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.
|
||
(5)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations
|
|
for investments in inverse floating rate transactions.
|
||
(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)
|
On November 28, 2011, AMR Corp. (“AMR”), the parent company of American Airlines Group, Inc. (“AAL”)
|
|
filed for federal bankruptcy protection. On December 9, 2013, AMR emerged from federal bankruptcy with
|
||
the acceptance of its reorganization plan by the bankruptcy court. Under the settlement agreement
|
||
established to meet AMR’s unsecured bond obligations, the bondholders, including the Fund, received a
|
||
distribution of AAL preferred stock which was converted to AAL common stock over a 120- day period. Every
|
||
30 days, a quarter of the preferred stock was converted to AAL common stock based on the 5-day
|
||
volume-weighted average price and the amount of preferred shares tendered during the optional
|
||
preferred conversion period.
|
||
(8)
|
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total
|
|
Investments is 32.0%.
|
||
WI/DD
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
|
(ETM)
|
Escrowed to maturity.
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
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.
|