nq2.htm



 
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 811-06385
 
Nuveen Ohio Quality 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:            2/28          
 
Date of reporting period:         5/31/15         
 
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
     
           
   
Nuveen Ohio Quality Income Municipal Fund (NUO)
     
   
   May 31, 2015 (Unaudited)
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 146.0% (100.0% of Total Investments)
     
           
   
MUNICIPAL BONDS – 146.0% (100.0% of Total Investments)
     
           
   
Consumer Staples – 4.5% (3.1% of Total Investments)
     
$       400
 
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
No Opt. Call
Aaa
$         414,496
   
Bonds, Senior Lien, Series 2007A-1, 5.000%, 6/01/16
     
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
     
   
Bonds, Senior Lien, Series 2007A-2:
     
15,035
 
5.125%, 6/01/24
6/17 at 100.00
B–
12,684,278
1,085
 
5.875%, 6/01/47
6/17 at 100.00
B
882,235
16,520
 
Total Consumer Staples
   
13,981,009
   
Education and Civic Organizations – 9.1% (6.3% of Total Investments)
     
4,375
 
Miami University of Ohio, General Receipts Bonds, Refunding Series 2014, 5.000%, 9/01/33
9/24 at 100.00
AA
5,031,600
   
Miami University of Ohio, General Receipts Bonds, Series 2011:
     
130
 
5.000%, 9/01/33
No Opt. Call
AA
146,159
1,960
 
5.000%, 9/01/36
9/21 at 100.00
AA
2,163,742
   
Miami University of Ohio, General Receipts Bonds, Series 2012:
     
480
 
4.000%, 9/01/32
9/22 at 100.00
AA
499,613
1,000
 
4.000%, 9/01/33
9/22 at 100.00
AA
1,038,250
3,150
 
Ohio Higher Education Facilities Commission, General Revenue Bonds, Kenyon College, Series
7/16 at 100.00
A+
3,270,172
   
2006, 5.000%, 7/01/41
     
2,280
 
Ohio Higher Educational Facilities Commission, General Revenue Bonds, University of Dayton,
12/16 at 100.00
A
2,404,306
   
2006 Project, Series 2006, 5.000%, 12/01/30 – AMBAC Insured
     
   
Ohio Higher Educational Facilities Commission, Revenue Bonds, Denison University Project,
     
   
Series 2012:
     
120
 
5.000%, 11/01/27
5/22 at 100.00
AA
138,052
590
 
5.000%, 11/01/32
5/22 at 100.00
AA
664,824
5,000
 
Ohio Higher Educational Facilities Commission, Revenue Bonds, University of Dayton, Series
12/22 at 100.00
A
5,501,700
   
2013, 5.000%, 12/01/43
     
2,500
 
Ohio Higher Educational Facility Commission, Revenue Bonds, Kenyon College, Series 2015,
7/25 at 100.00
A+
2,767,050
   
5.000%, 7/01/41
     
2,250
 
Ohio State Higher Education Facilities, Revenue Bonds, Case Western Reserve University, Series
12/16 at 100.00
AA–
2,372,670
   
2006, 5.000%, 12/01/44 – NPFG Insured
     
950
 
Ohio State, Higher Educational Facility Revenue Bonds, Otterbein College Project, Series
12/18 at 100.00
A3
1,053,512
   
2008A, 5.500%, 12/01/28
     
1,000
 
Ohio University at Athens, General Receipts Bonds, Series 2013, 5.000%, 12/01/39
12/22 at 100.00
Aa3
1,110,100
25,785
 
Total Education and Civic Organizations
   
28,161,750
   
Health Care – 31.6% (21.7% of Total Investments)
     
3,000
 
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds,
5/23 at 100.00
A1
3,225,000
   
Children’s Hospital Medical Center, Improvement Series 2013, 5.000%, 11/15/38
     
1,950
 
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Healthcare Partners, Series
6/20 at 100.00
AA–
2,177,487
   
2010A, 5.250%, 6/01/38
     
3,500
 
Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2010,
11/20 at 100.00
A
3,947,860
   
5.500%, 11/01/40
     
6,575
 
Butler County, Ohio, Hospital Facilities Revenue Bonds, Cincinnati Children’s Medical Center
5/16 at 100.00
A3
6,745,884
   
Project, Series 2006K, 5.000%, 5/15/31 – FGIC Insured
     
2,400
 
Fairfield County, Ohio, Hospital Facilities Revenue Bonds, Fairfield Medical Center Project,
6/23 at 100.00
Baa2
2,530,704
   
Series 2013, 5.000%, 6/15/43
     
   
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project,
     
   
Improvement Series 2009:
     
250
 
5.000%, 11/01/34
11/19 at 100.00
Aa2
276,450
2,615
 
5.250%, 11/01/40
11/19 at 100.00
Aa2
2,916,562
2,470
 
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project, Series
11/18 at 100.00
Aa2
2,663,697
   
2008A, 5.000%, 11/01/40
     
250
 
Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Series 2011A,
11/21 at 100.00
AA+
275,923
   
5.000%, 11/15/41
     
4,480
 
Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Tender Option Bond
11/21 at 100.00
AA+
5,409,062
   
Trust 11-21B, 9.304%, 11/15/41 (IF) (4)
     
3,225
 
Hancock County, Ohio, Hospital Revenue Bonds, Blanchard Valley Regional Health Center, Series
6/21 at 100.00
A2
3,778,732
   
2011A, 6.250%, 12/01/34
     
1,865
 
Lake County, Ohio, Hospital Facilities Revenue Bonds, Lake Hospital System, Inc., Refunding
8/18 at 100.00
A3
2,075,503
   
Series 2008C, 6.000%, 8/15/43
     
   
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series 2008D:
     
90
 
5.000%, 11/15/38
11/18 at 100.00
AA
97,322
40
 
5.125%, 11/15/40
11/18 at 100.00
AA
43,336
3,965
 
Lucas County, Ohio, Hospital Revenue Bonds, ProMedica Healthcare Obligated Group, Series
11/21 at 100.00
AA
4,756,771
   
2011A, 6.000%, 11/15/41
     
1,500
 
Miami County, Ohio, Hospital Facilities Revenue Refunding Bonds, Upper Valley Medical Center
5/16 at 100.00
A
1,556,730
   
Inc., Series 2006, 5.250%, 5/15/21
     
820
 
Middleburg Heights, Ohio, Hospital Facilities Revenue Bonds, Southwest General Health Center
8/21 at 100.00
A2
874,366
   
Project, Refunding Series 2011, 5.250%, 8/01/41
     
   
Montgomery County, Ohio, Revenue Bonds, Catholic Health Initiatives, Series 2004A:
     
3,700
 
5.000%, 5/01/30
8/15 at 100.00
A+
3,710,434
2,500
 
5.000%, 5/01/32
8/15 at 100.00
A+
2,504,500
6,105
 
Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated
2/23 at 100.00
BB+
6,317,698
   
Group Project, Series 2013, 5.000%, 2/15/44
     
95
 
Ohio Higher Educational Facilities Commission, Revenue Bonds, University Hospitals Health
1/17 at 100.00
AA+
100,604
   
System Inc., Series 2007A, 5.250%, 1/15/46 – BHAC Insured
     
   
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic
     
   
Health System Obligated Group, Series 2008A:
     
3,000
 
5.000%, 1/01/25
1/18 at 100.00
Aa2
3,248,070
240
 
5.250%, 1/01/33
1/18 at 100.00
Aa2
259,327
1,100
 
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Cleveland Clinic
1/22 at 100.00
Aa2
1,220,890
   
Health System Obligated Group, Series 2012A, 5.000%, 1/01/38
     
   
Ohio State Higher Educational Facilities Commission, Hospital Revenue Bonds, Summa Health
     
   
System Project, Series 2010:
     
1,500
 
5.750%, 11/15/40 – AGM Insured
5/20 at 100.00
AA
1,701,390
1,520
 
5.250%, 11/15/40 – AGM Insured
5/20 at 100.00
AA
1,679,494
8,050
 
Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic Health System Obligated Group,
1/19 at 100.00
Aa2
8,994,184
   
Refunding Series 2009A, 5.500%, 1/01/39
     
   
Ohio State, Hospital Facility Revenue Refunding Bonds, Cleveland Clinic Health System
     
   
Obligated Group, Tender Option Bond Trust 2015-XF0105:
     
5,350
 
19.888%, 1/01/33 (IF)
1/19 at 100.00
Aa2
7,860,006
875
 
19.888%, 1/01/36 (IF)
1/18 at 100.00
Aa2
1,159,445
   
Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc., Series 2013A:
     
1,000
 
5.000%, 1/15/28
1/23 at 100.00
A
1,116,960
2,000
 
5.000%, 1/15/29
1/23 at 100.00
A
2,226,840
   
Ross County, Ohio, Hospital Revenue Refunding Bonds, Adena Health System Series 2008:
     
1,425
 
5.750%, 12/01/28
12/18 at 100.00
A–
1,603,496
1,385
 
5.750%, 12/01/35
12/18 at 100.00
A–
1,547,530
1,000
 
5.750%, 12/01/35 – AGC Insured
12/18 at 100.00
AA
1,117,350
   
Wood County, Ohio, Hospital Facilities Refunding and Improvement Revenue Bonds, Wood County
     
   
Hospital Project, Series 2012:
     
2,635
 
5.000%, 12/01/37
No Opt. Call
Baa2
2,712,205
4,920
 
5.000%, 12/01/42
No Opt. Call
Baa2
5,048,412
87,395
 
Total Health Care
   
97,480,224
   
Housing/Multifamily – 2.7% (1.8% of Total Investments)
     
1,325
 
Clermont County, Ohio, GNMA Collateralized Mortgage Revenue Bonds, S.E.M. Villa II Project,
8/15 at 100.00
N/R
1,327,398
   
Series 1994A, 5.950%, 2/20/30
     
585
 
Franklin County, Ohio, GNMA Collateralized Multifamily Housing Mortgage Revenue Bonds, Agler
8/15 at 100.00
Aaa
586,164
   
Project, Series 2002A, 5.550%, 5/20/22 (Alternative Minimum Tax)
     
1,600
 
Montgomery County, Ohio, GNMA Guaranteed Multifamily Housing Revenue Bonds, Canterbury Court
10/18 at 101.00
Aa1
1,687,792
   
Project, Series 2007, 5.500%, 10/20/42 (Alternative Minimum Tax)
     
1,175
 
Ohio Housing Finance Agency, FHA-Insured Multifamily Housing Mortgage Revenue Bonds, Madonna
6/16 at 102.00
A1
1,192,566
   
Homes, Series 2006M, 4.900%, 6/20/48 (Alternative Minimum Tax)
     
3,390
 
Summit County Port Authority, Ohio, Multifamily Housing Revenue Bonds, Callis Tower Apartments
9/17 at 102.00
Aa1
3,526,515
   
Project, Series 2007, 5.250%, 9/20/47 (Alternative Minimum Tax)
     
8,075
 
Total Housing/Multifamily
   
8,320,435
   
Industrials – 2.3% (1.6% of Total Investments)
     
2,055
 
Cleveland-Cuyahoga County Port Authority, Ohio, Common Bond Fund Revenue Bonds, Cleveland
11/15 at 100.00
BBB+
2,072,077
   
Christian Home Project, Series 2002C, 5.950%, 5/15/22
     
625
 
Cleveland-Cuyahoga County Port Authority, Ohio, Development Revenue Bonds, Bond Fund Program –
11/15 at 100.00
BBB+
633,412
   
Columbia National Group Project, Series 2005D, 5.000%, 5/15/20 (Alternative Minimum Tax)
     
3,495
 
Toledo-Lucas County Port Authority, Ohio, Revenue Refunding Bonds, CSX Transportation Inc.,
No Opt. Call
Baa1
4,336,491
   
Series 1992, 6.450%, 12/15/21
     
1,600
 
Western Reserve Port Authority, Ohio, Solid Waste Facility Revenue Bonds, Central Waste Inc.,
7/17 at 102.00
N/R
8,656
   
Series 2007A, 6.350%, 7/01/27 (Alternative Minimum Tax) (5)
     
7,775
 
Total Industrials
   
7,050,636
   
Long-Term Care – 1.1% (0.7% of Total Investments)
     
895
 
Franklin County, Ohio, Healthcare Facilities Revenue Bonds, Ohio Presbyterian Retirement
7/21 at 100.00
BBB–
963,897
   
Services, Improvement Series 2010A, 5.625%, 7/01/26
     
2,220
 
Montgomery County, Ohio, Health Care and Multifamily Housing Revenue Bonds, Saint Leonard,
4/20 at 100.00
BBB–
2,416,625
   
Refunding & improvement Series 2010, 6.625%, 4/01/40
     
3,115
 
Total Long-Term Care
   
3,380,522
   
Materials – 0.7% (0.4% of Total Investments)
     
2,000
 
Toledo-Lucas County Port Authority, Ohio, Port Revenue Bonds, Cargill Inc., Series 2004B,
No Opt. Call
A
2,036,160
   
4.500%, 12/01/15
     
   
Tax Obligation/General – 22.5% (15.4% of Total Investments)
     
   
Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements,
     
   
Series 2012:
     
1,140
 
5.000%, 12/01/26
6/22 at 100.00
Aaa
1,320,188
2,545
 
5.000%, 12/01/28
6/22 at 100.00
Aaa
2,910,233
1,605
 
5.000%, 12/01/29
6/22 at 100.00
Aaa
1,829,299
   
Cincinnati, Ohio, General Obligation Bonds, Various Purpose Series 2012A:
     
1,960
 
5.000%, 12/01/31
12/20 at 100.00
Aa2
2,236,536
875
 
5.000%, 12/01/32
12/20 at 100.00
Aa2
998,454
2,000
 
Cleveland, Ohio, General Obligation Bonds, Series 2011, 5.000%, 12/01/29
12/19 at 100.00
AA
2,258,960
1,140
 
Columbia Local School District, Lorain County, Ohio, General Obligation Bonds, School
11/21 at 100.00
A2
1,272,263
   
Facilities Improvement Series 2011, 5.000%, 11/01/39 – AGM Insured
     
   
Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006:
     
4,310
 
0.000%, 12/01/27 – AGM Insured
No Opt. Call
AA+
2,918,603
5,835
 
0.000%, 12/01/28 – AGM Insured
No Opt. Call
AA+
3,802,961
1,730
 
Franklin County, Ohio, General Obligation Bonds, Refunding Series 2014, 5.000%, 6/01/31
12/23 at 100.00
AAA
2,023,425
   
Gallia County Local School District, Gallia and Jackson Counties, Ohio, General Obligation
     
   
Bonds, Refunding School Improvement Series 2014:
     
1,260
 
5.000%, 11/01/30
11/24 at 100.00
Aa2
1,452,062
1,540
 
5.000%, 11/01/31
11/24 at 100.00
Aa2
1,769,321
   
Greenville City School District, Drake County, Ohio, General Obligation Bonds, School
     
   
Improvement Series 2013:
     
555
 
5.250%, 1/01/38
1/22 at 100.00
AA
617,909
1,355
 
5.250%, 1/01/41
1/22 at 100.00
AA
1,504,348
1,355
 
Grove City, Ohio, General Obligation Bonds, Construction & Improvement Series 2009,
12/19 at 100.00
Aa1
1,531,584
   
5.125%, 12/01/36
     
6,580
 
Indian Lake Local School District, Logan and Auglaize Counties, Ohio, School Facilities
6/17 at 100.00
AA–
7,015,793
   
Improvement and Refunding Bonds, Series 2007, 5.000%, 12/01/34 – NPFG Insured
     
2,160
 
Kenston Local School District, Geauga County, Ohio, General Obligation Bonds, Series 2011,
No Opt. Call
Aa1
1,893,413
   
0.000%, 12/01/21
     
2,620
 
Lucas County, Ohio, General Obligation Bonds, Various Purpose Series 2010, 5.000%, 10/01/40
10/18 at 100.00
AA
2,882,603
4,500
 
Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding
No Opt. Call
A2
5,461,965
   
Series 2007, 5.250%, 12/01/31 – AGM Insured
     
1,305
 
Monroe Local School District, Butler County, Ohio, General Obligation Bonds, Series 2006,
No Opt. Call
Baa1
1,558,666
   
5.500%, 12/01/24 – AMBAC Insured
     
725
 
Napoleon City School District, Henry County, Ohio, General Obligation Bonds, Facilities
6/22 at 100.00
Aa3
799,146
   
Construction & Improvement Series 2012, 5.000%, 12/01/36
     
2,500
 
New Albany Plain Local School District, Franklin County, Ohio, General Obligation Bonds,
12/22 at 100.00
AA+
2,522,625
   
Refunding School Improvement Series 2013, 4.000%, 12/01/43
     
985
 
Newark City School District, Licking County, Ohio, General Obligation Bonds, Series 2005,
12/15 at 100.00
AA–
1,007,163
   
5.000%, 12/01/28 – NPFG Insured
     
2,300
 
Northmor Local School District, Morrow County, Ohio, General Obligation School Facilities
11/18 at 100.00
Aa2
2,530,414
   
Construction and Improvement Bonds, Series 2008, 5.000%, 11/01/36
     
500
 
Oak Hills Local School District, Hamilton County, Ohio, General Obligation Bonds, Refunding
12/15 at 100.00
AA
511,650
   
Series 2005, 5.000%, 12/01/24 – AGM Insured
     
1,000
 
Ohio State, General Obligation Bonds, Highway Capital Improvement Series 2012Q, 5.000%, 5/01/28
5/22 at 100.00
AAA
1,155,700
3,000
 
Ohio State, General Obligation Bonds, Highway Capital Improvement, Series 2014R, 5.000%, 5/01/29
5/24 at 100.00
AAA
3,530,790
5,000
 
South Euclid, Ohio, General Obligation Bonds, Real Estate Acquisition and Urban Redevelopment,
6/22 at 100.00
Aa2
5,413,950
   
Series 2012, 5.000%, 6/01/42
     
2,250
 
South-Western City School District, Franklin and Pickaway Counties, Ohio, General Obligation
6/22 at 100.00
AA
2,514,330
   
Bonds, School Facilities Construction & Improvement Series 2012, 5.000%, 12/01/36
     
1,500
 
Springboro Community City School District, Warren County, Ohio, General Obligation Bonds,
No Opt. Call
AA
1,843,650
   
Refunding Series 2007, 5.250%, 12/01/32
     
70
 
Strongsville, Ohio, Limited Tax General Obligation Various Purpose Improvement Bonds, Series
8/15 at 100.00
Aaa
70,335
   
1996, 5.950%, 12/01/21
     
66,200
 
Total Tax Obligation/General
   
69,158,339
   
Tax Obligation/Limited – 30.7% (21.1% of Total Investments)
     
   
Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien
     
   
Series 2013A-2:
     
1,315
 
5.000%, 10/01/27
10/23 at 100.00
AA
1,513,473
1,520
 
5.000%, 10/01/30
10/23 at 100.00
AA
1,723,558
1,600
 
5.000%, 10/01/31
10/23 at 100.00
AA
1,808,016
2,000
 
Cleveland, Ohio, Income Tax Revenue Bonds, Bridges & Roadways Improvements, Subordinate Lien
10/23 at 100.00
AA
2,232,100
   
Series 2015A-2, 5.000%, 10/01/37
     
3,000
 
Cleveland, Ohio, Income Tax Revenue Bonds, Public Facilities Improvements, Series 2014A-1,
11/23 at 100.00
AA
3,371,430
   
5.000%, 11/15/38
     
500
 
Columbus-Franklin County Finance Authority, Ohio, Development Revenue Bonds, Hubbard Avenue
12/19 at 100.00
BBB
504,410
   
Parking Facility Project, Series 2012A, 5.000%, 12/01/36
     
6,750
 
Cuyahoga County, Ohio, Recovery Zone Facility Economic Development Revenue Bonds, Medical
12/20 at 100.00
Aa2
7,681,432
   
Mart- Convention Center Project, Series 2010F, 5.000%, 12/01/27
     
   
Cuyahoga County, Ohio, Sales Tax Revenue Bonds, Various Purpose Series 2014:
     
1,815
 
5.000%, 12/01/32
12/24 at 100.00
AAA
2,111,644
1,415
 
5.000%, 12/01/33
12/24 at 100.00
AAA
1,641,202
1,000
 
5.000%, 12/01/34
12/24 at 100.00
AAA
1,155,390
945
 
5.000%, 12/01/35
12/24 at 100.00
AAA
1,088,489
300
 
Delaware County District Library, Ohio, Library Fund Library Facilities Special Obligation
12/19 at 100.00
Aa2
326,298
   
Notes, Series 2009, 5.000%, 12/01/34
     
5,000
 
Franklin County Convention Facilities Authority, Ohio, Excise Tax and Lease Revenue
12/15 at 100.00
Aaa
5,112,500
   
Anticipation Bonds, Series 2005, 5.000%, 12/01/27 – AMBAC Insured
     
10,350
 
Franklin County Convention Facilities Authority, Ohio, Tax and Lease Revenue Anticipation and
12/24 at 100.00
Aaa
11,667,555
   
Refunding Bonds, Columbus City & Franklin County Lessees, Series 2014, 5.000%, 12/01/35
     
   
Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement
     
   
Bonds, Refunding Series 2012:
     
1,010
 
5.250%, 12/01/27
12/21 at 100.00
AAA
1,194,093
1,090
 
5.250%, 12/01/28
12/21 at 100.00
AAA
1,280,020
760
 
5.250%, 12/01/30
12/21 at 100.00
AAA
887,748
600
 
5.000%, 12/01/31
12/31 at 100.00
AAA
687,606
1,000
 
Greater Cleveland Regional Transit Authority, Ohio, Sales Tax Supported Capital Improvement
12/25 at 100.00
AAA
1,164,380
   
Bonds, Refunding Series 2015, 5.000%, 12/01/34
     
7,250
 
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006A, 5.000%, 12/01/32 –
12/16 at 100.00
A+
7,645,270
   
AMBAC Insured
     
5,565
 
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series 2000B, 0.000%, 12/01/28 –
No Opt. Call
AA
3,430,266
   
AGM Insured
     
5,000
 
Hamilton County, Ohio, Sales Tax Revenue Bonds, Refunding Series 2011A, 5.000%, 12/01/31
12/21 at 100.00
A+
5,537,200
1,750
 
Hudson City School District, Ohio, Certificates of Participation, Series 2012, 4.000%, 6/01/34 –
6/22 at 100.00
Aa3
1,786,698
   
NPFG Insured
     
20,700
 
JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series
1/23 at 100.00
AA
22,898,340
   
2013A, 5.000%, 1/01/38 (Mandatory put 1/01/23)
     
1,000
 
New Albany Community Authority, Ohio, Community Facilities Revenue Refunding Bonds, Series
10/22 at 100.00
A1
1,138,770
   
2012C, 5.000%, 10/01/24
     
   
Riversouth Authority, Ohio, Riversouth Area Redevelopment Bonds, Refunding Series 2012A:
     
1,645
 
5.000%, 12/01/23
12/22 at 100.00
AA+
1,933,138
1,200
 
5.000%, 12/01/24
12/22 at 100.00
AA+
1,402,128
   
Vermilion Local School District, East and Lorain Counties, Ohio, Certificates of
     
   
Participation, Series 2012:
     
765
 
5.000%, 12/01/24
No Opt. Call
Aa3
860,495
805
 
5.000%, 12/01/25
12/20 at 100.00
Aa3
897,784
87,650
 
Total Tax Obligation/Limited
   
94,681,433
   
Transportation – 9.3% (6.3% of Total Investments)
     
   
Cleveland, Ohio, Airport System Revenue Bonds, Series 2012A:
     
2,150
 
5.000%, 1/01/30
1/22 at 100.00
A–
2,347,499
1,500
 
5.000%, 1/01/31 – AGM Insured
1/22 at 100.00
AA
1,652,655
   
Ohio State Treasurer, Tax-Exempt Private Activity Bonds, Portsmouth Gateway Group, LLC –
     
   
Borrower, Portsmouth Bypass Project, Series 2015:
     
2,500
 
5.000%, 12/31/35 – AGM Insured (Alternative Minimum Tax)
6/25 at 100.00
AA
2,738,350
3,000
 
5.000%, 12/31/39 – AGM Insured (Alternative Minimum Tax)
6/25 at 100.00
AA
3,262,470
4,250
 
5.000%, 6/30/53 (Alternative Minimum Tax)
6/25 at 100.00
Baa2
4,476,993
3,550
 
Ohio Turnpike Commission, Revenue Refunding Bonds, Series 1998A, 5.500%, 2/15/18 – FGIC Insured
No Opt. Call
AA
3,975,929
2,050
 
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series
2/23 at 100.00
A+
2,324,577
   
2013A-1, 5.250%, 2/15/39
     
   
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Projects, Junior Lien
     
   
Series 2013A-2:
     
5,000
 
0.000%, 2/15/37
No Opt. Call
A+
1,929,150
11,260
 
0.000%, 2/15/38
No Opt. Call
A+
4,139,514
5,000
 
0.000%, 2/15/40
No Opt. Call
A+
1,642,900
40,260
 
Total Transportation
   
28,490,037
   
U.S. Guaranteed – 17.7% (12.1% of Total Investments) (6)
     
4,705
 
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series
2/18 at 100.00
N/R (6)
5,244,852
   
2008A, 5.250%, 2/15/43 (Pre-refunded 2/15/18)
     
125
 
Barberton City School District, Summit County, Ohio, General Obligation Bonds, School
6/18 at 100.00
AA (6)
140,744
   
Improvement Series 2008, 5.250%, 12/01/31 (Pre-refunded 6/01/18)
     
   
Central Ohio Solid Waste Authority, General Obligation Bonds, Refunding & Improvements,
     
   
Series 2012:
     
110
 
5.000%, 12/01/26 (Pre-refunded 6/01/22)
6/22 at 100.00
N/R (6)
132,838
245
 
5.000%, 12/01/28 (Pre-refunded 6/01/22)
6/22 at 100.00
N/R (6)
295,867
160
 
5.000%, 12/01/29 (Pre-refunded 6/01/22)
6/22 at 100.00
N/R (6)
193,219
   
Cincinnati City School District, Ohio, Certificates of Participation, School Improvement
     
   
Project, Series 2006:
     
95
 
5.000%, 12/15/32 (Pre-refunded 12/15/16) – AGM Insured
12/16 at 100.00
AA (6)
101,553
30
 
5.000%, 12/15/32 (Pre-refunded 12/15/16) – AGM Insured
12/16 at 100.00
AA (6)
32,060
1,165
 
Cleveland-Cuyahoga County Port Authority, Ohio, Student Housing Facility Revenue Bonds, Euclid
8/15 at 100.00
N/R (6)
1,174,343
   
Avenue Housing Corporation – Fenn Tower Project, Series 2005, 5.000%, 8/01/23 (Pre-refunded
     
   
8/01/15) – AMBAC Insured
     
   
Franklin County, Ohio, General Obligation Bonds, Various Purpose Series 2007:
     
3,355
 
5.000%, 12/01/27 (Pre-refunded 12/01/17)
12/17 at 100.00
AAA
3,699,391
1,840
 
5.000%, 12/01/28 (Pre-refunded 12/01/17)
12/17 at 100.00
AAA
2,028,876
2,620
 
Green, Ohio, General Obligation Bonds, Series 2008, 5.500%, 12/01/32 (Pre-refunded 12/01/15)
12/15 at 100.00
AA+ (6)
2,689,116
12,750
 
Hamilton City School District, Ohio, General Obligation Bonds, Series 2007, 5.000%, 12/01/34
6/17 at 100.00
AA (6)
13,838,212
   
(Pre-refunded 6/01/17) – AGM Insured
     
1,850
 
Hilliard City School District, Franklin County, Ohio, General Obligation Bonds, School
12/15 at 100.00
Aa1 (6)
1,894,511
   
Construction, Series 2005, 5.000%, 12/01/26 (Pre-refunded 12/01/15) – NPFG Insured
     
3,000
 
Hilliard City School District, Franklin County, Ohio, General Obligation Bonds, Series 2006A,
12/16 at 100.00
Aa1 (6)
3,202,380
   
5.000%, 12/01/25 (Pre-refunded 12/01/16) – NPFG Insured
     
   
Lakewood City School District, Cuyahoga County, Ohio, General Obligation Bonds, Series 2007:
     
1,010
 
5.000%, 12/01/25 (Pre-refunded 12/01/17) – FGIC Insured
12/17 at 100.00
Aa2 (6)
1,113,676
775
 
5.000%, 12/01/30 (Pre-refunded 12/01/17) – FGIC Insured
12/17 at 100.00
Aa2 (6)
854,554
1,130
 
Marysville Exempted Village School District, Union County, Ohio, General Obligation Bonds,
12/15 at 100.00
AA (6)
1,156,702
   
Series 2006, 5.000%, 12/01/25 (Pre-refunded 12/01/15) – AGM Insured
     
1,195
 
Marysville, Ohio, Wastewater Treatment System Revenue Bonds, Series 2006, 5.250%, 12/01/24
12/16 at 100.00
N/R (6)
1,279,714
   
(Pre-refunded 12/01/16) – SYNCORA GTY Insured
     
1,000
 
Mason City School District, Warren and Butler Counties, Ohio, General Obligation Bonds, Series
6/17 at 100.00
Aa1 (6)
1,085,350
   
2007, 5.000%, 12/01/31 (Pre-refunded 6/01/17)
     
1,500
 
Milford Exempted Village School District, Ohio, General Obligation Bonds, Series 2008, 5.250%,
12/18 at 100.00
Aa3 (6)
1,712,730
   
12/01/36 (Pre-refunded 12/01/18)
     
2,680
 
Newark City School District, Licking County, Ohio, General Obligation Bonds, Series 2005,
12/15 at 100.00
AA– (6)
2,680,724
   
5.000%, 12/01/28 (Pre-refunded 12/01/15) – NPFG Insured
     
140
 
Ohio Higher Educational Facilities Commission, General Revenue Bonds, University of Dayton,
12/16 at 100.00
A2 (6)
149,400
   
2006 Project, Series 2006, 5.000%, 12/01/30 (Pre-refunded 12/01/16) – AMBAC Insured
     
3,000
 
Ohio State Higher Educational Facility Commission, Higher Education Facility Revenue Bonds,
11/18 at 100.00
A– (6)
3,461,490
   
Xavier University 2008C, 5.750%, 5/01/28 (Pre-refunded 11/01/18)
     
1,220
 
Ohio Water Development Authority, Revenue Bonds, Drinking Water Assistance Fund, State Match,
6/18 at 100.00
AAA
1,363,875
   
Series 2008, 5.000%, 6/01/28 (Pre-refunded 6/01/18) – AGM Insured
     
500
 
Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation
6/18 at 100.00
AA+ (6)
557,705
   
Bonds, Series 2008, 5.000%, 12/01/36 (Pre-refunded 6/01/18)
     
2,300
 
Richland County, Ohio, Hospital Revenue Bonds, MidCentral Health System Group, Series 2006,
11/16 at 100.00
N/R (6)
2,457,458
   
5.250%, 11/15/36 (Pre-refunded 11/15/16)
     
700
 
Sylvania City School District, Lucas County, Ohio, General Obligation Bonds, School
6/17 at 100.00
AA (6)
763,224
   
Improvement Series 1995, 5.250%, 12/01/36 (Pre-refunded 6/01/17) – AGC Insured
     
   
Vandalia Butler City School District, Montgomery County, Ohio, General Obligation Bonds,
     
   
School Improvement Series 2009:
     
685
 
5.125%, 12/01/37 (Pre-refunded 6/01/19)
6/19 at 100.00
N/R (6)
788,825
315
 
5.125%, 12/01/37 (Pre-refunded 6/01/19)
6/19 at 100.00
Aa3 (6)
362,745
50,200
 
Total U.S. Guaranteed
   
54,456,134
   
Utilities – 3.9% (2.7% of Total Investments)
     
   
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds,
     
   
Series 2008A:
     
50
 
5.000%, 2/15/38 – AGC Insured
2/18 at 100.00
AA
54,026
295
 
5.250%, 2/15/43
2/18 at 100.00
A1
320,202
1,500
 
American Municipal Power Ohio Inc., Prairie State Energy Campus Project Revenue Bonds, Series
2/24 at 100.00
A1
1,652,220
   
2015A, 5.000%, 2/15/42
     
   
Cleveland, Ohio, Public Power System Revenue Bonds, Series 2008B:
     
2,000
 
0.000%, 11/15/28 – NPFG Insured
No Opt. Call
AA–
1,213,720
6,895
 
0.000%, 11/15/32 – NPFG Insured
No Opt. Call
AA–
3,334,008
2,155
 
0.000%, 11/15/34 – NPFG Insured
No Opt. Call
AA–
951,519
1,500
 
Ohio Air Quality Development Authority, Air Quality Revenue Refunding Bonds, Columbus Southern
12/38 at 100.00
Baa1
1,659,510
   
Power Company Project, Series 2009B, 5.800%, 12/01/38 (Mandatory put 12/01/19)
     
2,025
 
Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Ohio Valley Electric Corporation
No Opt. Call
BBB–
2,262,370
   
Project, Series 2009E, 5.625%, 10/01/19
     
950
 
Ohio Municipal Electric Generation Agency, Beneficial Interest Certificates, Belleville
No Opt. Call
AA–
582,065
   
Hydroelectric Project – Joint Venture 5, Series 2001, 0.000%, 2/15/29 – NPFG Insured
     
17,370
 
Total Utilities
   
12,029,640
   
Water and Sewer – 9.9% (6.8% of Total Investments)
     
8,150
 
Cincinnati, Ohio, Water System Revenue Bonds, Series 2012A, 5.000%, 12/01/37
12/21 at 100.00
AAA
9,193,118
865
 
City of Marysville, Ohio, Water System Mortgage Revenue Bonds, Series 2007, 5.000%, 12/01/32 –
12/17 at 100.00
A1
935,394
   
AMBAC Insured
     
   
Cleveland, Ohio, Water Revenue Bonds, Second Lien Series 2012A:
     
2,500
 
5.000%, 1/01/25
1/22 at 100.00
Aa2
2,935,500
1,975
 
5.000%, 1/01/26
1/22 at 100.00
Aa2
2,301,882
2,035
 
Cleveland, Ohio, Water Revenue Bonds, Senior Lien Series 2012X, 5.000%, 1/01/42
1/22 at 100.00
Aa1
2,248,064
1,015
 
Cleveland, Ohio, Waterworks First Mortgage Revenue Refunding and Improvement Bonds, Series
No Opt. Call
Aa1
1,141,814
   
1993G, 5.500%, 1/01/21 – NPFG Insured
     
1,275
 
Hamilton County, Ohio, Sewer System Revenue Bonds, Metropolitan Sewer District of Greater
12/24 at 100.00
AA+
1,483,386
   
Cincinnati, Refunding Series 2014A, 5.000%, 12/01/31
     
1,220
 
Hamilton, Ohio, Wastewater System Revenue Bonds, Series 2005, 5.250%, 10/01/22 – AGM Insured
10/15 at 100.00
A1
1,240,301
2,025
 
Ironton, Ohio, Sewer System Improvement Revenue Bonds, Series 2011, 5.250%, 12/01/40 –
12/20 at 100.00
A2
2,210,591
   
AGM Insured
     
475
 
Marysville, Ohio, Wastewater Treatment System Revenue Bonds, Series 2006, 5.250%, 12/01/24 –
12/16 at 100.00
A–
507,832
   
SYNCORA GTY Insured
     
225
 
Marysville, Ohio, Wastewater Treatment System Revenue Bonds, Series 2007, 5.000%, 12/01/37 –
12/17 at 100.00
A–
242,964
   
SYNCORA GTY Insured
     
2,000
 
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Series 2013,
5/23 at 100.00
AA+
2,252,720
   
5.000%, 11/15/38
     
   
Toledo, Ohio, Sewerage System Revenue Bonds, Refunding Series 2013:
     
820
 
5.000%, 11/15/25
11/23 at 100.00
Aa3
963,246
605
 
5.000%, 11/15/26
11/23 at 100.00
Aa3
702,738
1,075
 
5.000%, 11/15/27
11/23 at 100.00
Aa3
1,239,593
695
 
5.000%, 11/15/28
11/23 at 100.00
Aa3
796,296
26,955
 
Total Water and Sewer
   
30,395,439
$ 439,300
 
Total Long-Term Investments (cost $420,215,707)
   
449,621,758
   
Variable Rate Demand Preferred Shares, at Liquidation Value – (48.0)% (7)
   
(148,000,000)
   
Other Assets Less Liabilities – 2.0% (8)
   
6,414,371
   
Net Assets Applicable to Common Shares – 100%
   
$   308,036,129
 
 
 
 
 

 

 
 
                 
Investments in Derivatives as of May 31, 2015 
         
Credit Default Swaps outstanding:
             
     
Current
       
Unrealized
   
Buy/Sell
Credit
Notional
Fixed Rate
Termination
 
Appreciation
Counterparty
Reference Entity
Protection (9)
Spread (9)
Amount
(Annualized)
Date
Value
(Depreciation)
Goldman Sachs
Commonwealth of
Puerto Rico
Buy
16.64%
$3,850,000
5.000%
9/20/19
$935,058
$96,767
 
 
Fair Value Measurements
 
Fair value is defined as the price that would be received 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
$ —
$449,621,758
$ —
$449,621,758
Investments in Derivatives
       
Credit Default Swaps*
96,767
96,767
Total
$ —
$449,718,525
$ —
$449,718,525
*Represents net unrealized appreciation (depreciation).
 
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 certain gains and losses on investment transactions. 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 May 31, 2015, the cost of investments (excluding investments in derivatives) was $420,429,442.
 
Gross unrealized appreciation and gross unrealized depreciation of investments (excluding investments in Derivatives) as of May 31, 2015, were as follows:
   
Gross unrealized:
 
   Appreciation
$32,061,086
   Depreciation
(2,868,770)
Net unrealized appreciation (depreciation) of investments
$29,192,316
 
 
     
(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 Investor 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)
 
As of, 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 ceased 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)
 
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments
   
is 32.9%.
(8)
 
Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the counter
   
derivatives as well as the exchange-cleared and exchange-traded derivatives, when applicable.
(9)
 
The Fund entered into the credit default swap to gain investment exposure to the referenced entity. Selling
   
protection has a similar credit risk position to owning that referenced entity. Buying protection has a similar
   
credit risk position to selling the referenced entity short.
(10)
 
The credit spread generally serves as an indication of the current status of the payment/performance risk
   
and therefore the likelihood of default of the credit derivative. The credit spread also reflects the cost of
   
buying/selling protection and may include upfront payments required to be made to enter into a credit
   
default swap contract. Higher credit spreads are indicative of a higher likelihood of performance by the
   
seller of protection.
(IF)
 
Inverse floating rate investment.
 
 
 
 

 
 
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 Ohio Quality Income Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date:         July 30, 2015        
 
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:         July 30, 2015        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date:         July 30, 2015