Portfolio of Investments (Unaudited)
|
|||||
Nuveen Build America Bond Opportunity Fund (NBD)
|
|||||
June 30, 2011
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
California – 13.6% (12.9% of Total Investments)
|
|||||
$ 1,030
|
Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge,
|
No Opt. Call
|
A+
|
$ 1,130,693
|
|
Subordinate Lien, Build America Federally Taxable Bond Series 2010S-1, 7.043%, 4/01/50
|
|||||
1,500
|
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Build
|
No Opt. Call
|
A2
|
1,613,415
|
|
America Taxable Bond Series 2009G-2, 8.361%, 10/01/34
|
|||||
2,000
|
Hayward Unified School District, Alameda County, California, General Obligation Bonds, Build
|
8/20 at 100.00
|
AA+
|
2,082,280
|
|
America Taxable Bonds, Series 2010B, 7.350%, 8/01/43 – AGM Insured
|
|||||
2,000
|
Los Angeles Community College District, Los Angeles County, California, General Obligation
|
No Opt. Call
|
AA
|
3,596,800
|
|
Bonds, Tender Option Bond Trust TN027, 30.566%, 8/01/49 (IF), (4)
|
|||||
1,000
|
Los Angeles County Public Works Financing Authority, California, Lease Revenue Bonds, Mulitple
|
No Opt. Call
|
A+
|
1,086,830
|
|
Capital Projects I, Build America Taxable Bond Series 2010B, 7.618%, 8/01/40
|
|||||
2,000
|
Los Angeles Department of Water and Power, California, Water System Revenue Bonds, Tender
|
No Opt. Call
|
AA+
|
2,777,000
|
|
Option Bond Trust T0003, 30.235%, 7/01/42 (IF), (4)
|
|||||
1,000
|
Oakland Redevelopment Agency, California, Subordinated Housing Set Aside Revenue Bonds,
|
No Opt. Call
|
A
|
1,045,730
|
|
Federally Taxable Series 2011A-T, 7.500%, 9/01/19
|
|||||
1,500
|
San Diego County Regional Transportation Commission, California, Sales Tax Revenue Bonds,
|
No Opt. Call
|
AAA
|
1,562,115
|
|
Build America Taxable Bonds Series 2010A, 5.911%, 4/01/48
|
|||||
2,000
|
San Francisco City and County, California, Certificates of Participation, 525 Golden Gate
|
No Opt. Call
|
AA–
|
1,562,100
|
|
Avenue, San Francisco Public Utilities Commission Office Project, Tender Option Bond Trust
|
|||||
B001, 29.317%, 11/01/41 (IF)
|
|||||
315
|
Stanton Redevelopment Agency, California, Consolidated Project Tax Allocation Bonds, Series
|
No Opt. Call
|
A–
|
314,087
|
|
2011A, 7.000%, 12/01/19
|
|||||
3,000
|
The Regents of the University of California, Medical Center Pooled Revenue Bonds, Build
|
No Opt. Call
|
Aa2
|
3,067,020
|
|
America Taxable Bonds, Series 2010H, 6.548%, 5/15/48
|
|||||
17,345
|
Total California
|
19,838,070
|
|||
Colorado – 4.4% (4.2% of Total Investments)
|
|||||
4,000
|
Colorado State Bridge Enterprise Revenue Bonds, Federally Taxable Build America Series 2010A,
|
No Opt. Call
|
AA
|
4,334,960
|
|
6.078%, 12/01/40
|
|||||
2,000
|
Regional Transportation District, Colorado, Sales Tax Revenue Bonds, FasTracks Project, Build
|
No Opt. Call
|
AA+
|
2,133,780
|
|
America Series 2010B, 5.844%, 11/01/50
|
|||||
6,000
|
Total Colorado
|
6,468,740
|
|||
Connecticut – 1.1% (1.1% of Total Investments)
|
|||||
1,500
|
Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue
|
4/20 at 100.00
|
N/R
|
1,621,170
|
|
Bonds, Harbor Point Project, Federally Taxable – Issuer Subsidy – Recovery Zone Economic
|
|||||
Development Bond Series 2010B, 12.500%, 4/01/39
|
|||||
District of Columbia – 2.8% (2.6% of Total Investments)
|
|||||
800
|
District of Columbia, Income Tax Secured Revenue Bonds, Build America Taxable Bonds, Series
|
No Opt. Call
|
AAA
|
837,592
|
|
2009E, 5.591%, 12/01/34
|
|||||
3,000
|
District of Columbia, Income Tax Secured Revenue Bonds, Build America Taxable Bonds, Series
|
No Opt. Call
|
AAA
|
3,183,120
|
|
2010F, 5.582%, 12/01/35, (4)
|
|||||
3,800
|
Total District of Columbia
|
4,020,712
|
|||
Georgia – 3.3% (3.1% of Total Investments)
|
|||||
2,000
|
Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Taxable Build
|
No Opt. Call
|
A+
|
1,968,120
|
|
America Bonds Series 2010A, 6.637%, 4/01/57
|
|||||
3,000
|
Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project P Bonds, Refunding
|
No Opt. Call
|
A–
|
2,851,980
|
|
Taxable Build America Bonds Series 2010A, 7.055%, 4/01/57
|
|||||
5,000
|
Total Georgia
|
4,820,100
|
|||
Illinois – 14.2% (13.5% of Total Investments)
|
|||||
3,375
|
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Federally Taxable Build
|
No Opt. Call
|
AA
|
3,409,560
|
|
America Bonds, Series 2010B, 6.200%, 12/01/40
|
|||||
5,050
|
Chicago, Illinois, Wastewater Transmission Revenue Bonds, Build America Taxable Bond Series
|
No Opt. Call
|
Aa3
|
5,541,769
|
|
2010B, 6.900%, 1/01/40
|
|||||
500
|
Cook County, Illinois, General Obligation Bonds, Build America Taxable Bonds, Series 2010D,
|
No Opt. Call
|
AA
|
518,090
|
|
6.229%, 11/15/34
|
|||||
500
|
Illinois Finance Authority, Revenue Bonds, Illinois Institute of Technology, Refunding Series
|
4/15 at 100.00
|
Baa3
|
454,735
|
|
2006A, 6.100%, 4/01/15
|
|||||
2,000
|
Illinois State, General Obligation Bonds, Build America Taxable Bonds, Series 2010-5,
|
No Opt. Call
|
A+
|
2,146,620
|
|
7.350%, 7/01/35
|
|||||
3,500
|
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Build America Taxable Bonds,
|
No Opt. Call
|
AA–
|
3,640,770
|
|
Senior Lien Series 2009A, 6.184%, 1/01/34
|
|||||
2,500
|
Northern Illinois Municipal Power Agency, Power Project Revenue Bonds, Prairie State Project,
|
No Opt. Call
|
A2
|
2,824,075
|
|
Build America Taxable Bond Series 2010A, 7.820%, 1/01/40
|
|||||
2,000
|
The Board of Trustee of Northern Illinois University, Auxiliary Facilities System Revenue
|
4/20 at 100.00
|
Aa3
|
2,243,640
|
|
BondsFederally Taxable Build America Series 2010, 7.947%, 4/01/35 – AGM Insured
|
|||||
19,425
|
Total Illinois
|
20,779,259
|
|||
Indiana – 1.8% (1.7% of Total Investments)
|
|||||
2,500
|
Indianapolis Local Public Improvement Bond Bank, Indiana, Build America Taxable Bonds, Series
|
No Opt. Call
|
AA+
|
2,671,475
|
|
2010B-2, 6.116%, 1/15/40
|
|||||
Kentucky – 2.2% (2.1% of Total Investments)
|
|||||
3,000
|
Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage
|
No Opt. Call
|
AA–
|
3,145,380
|
|
System Revenue Bonds, Build America Taxable Bonds Series 2010A, 6.250%, 5/15/43
|
|||||
Massachusetts – 1.9% (1.8% of Total Investments)
|
|||||
2,000
|
Massachusetts, Transporation Fund Revenue Bonds, Accelerated Bridge Program, Tender Option
|
No Opt. Call
|
AA+
|
2,789,300
|
|
Bond Trust T0004, 25.530%, 6/01/40 (IF), (4)
|
|||||
Michigan – 5.2% (4.9% of Total Investments)
|
|||||
3,000
|
Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Build America
|
5/20 at 100.00
|
Aa2
|
2,917,020
|
|
Taxable Bond Series 2010B, 6.845%, 5/01/40
|
|||||
1,000
|
Grand Rapids, Michigan, Sanitary Sewer System Revenue Bonds, Build America Taxable Bond Series
|
No Opt. Call
|
AA+
|
1,042,200
|
|
2010A, 6.720%, 1/01/41
|
|||||
1,970
|
Michigan Tobacco Settlement Finance Authority, Tobacco Settlement Asset-Backed Revenue Bonds,
|
6/22 at 100.00
|
Baa3
|
1,464,419
|
|
Taxable Turbo Series 2006A, 7.309%, 6/01/34
|
|||||
2,000
|
Wayne County Building Authority, Michigan, General Obligation Bonds, Jail Facilities,
|
12/20 at 100.00
|
A3
|
2,152,580
|
|
Federally Taxable Recovery Zone Economic Development Series 2010, 10.000%, 12/01/40
|
|||||
7,970
|
Total Michigan
|
7,576,219
|
|||
Minnesota – 1.8% (1.7% of Total Investments)
|
|||||
2,500
|
Western Minnesota Municipal Power Agency, Power Supply Revenue Bonds, Build America Taxable
|
No Opt. Call
|
A1
|
2,654,275
|
|
Bond Series 2010C, 6.770%, 1/01/46
|
|||||
Mississippi – 1.7% (1.6% of Total Investments)
|
|||||
2,500
|
Mississippi State, General Obligation Bonds, Build America Taxable Bond Series 2010F,
|
No Opt. Call
|
AA
|
2,514,925
|
|
5.245%, 11/01/34
|
|||||
Missouri – 2.8% (2.7% of Total Investments)
|
|||||
1,150
|
Curators of the University of Missouri, System Facilities Revenue Bonds, Build America Taxable
|
No Opt. Call
|
AA+
|
1,256,973
|
|
Bonds, Series 2010, 5.792%, 11/01/41
|
|||||
2,500
|
Missouri Joint Municipal Electric Utility Commission, Prairie State Power Project Revenue
|
No Opt. Call
|
A3
|
2,845,500
|
|
Bond, Federally Taxable Build America Bonds – Direct Pay, Series 2010A, 7.897%, 1/01/42
|
|||||
3,650
|
Total Missouri
|
4,102,473
|
|||
Nevada – 2.6% (2.5% of Total Investments)
|
|||||
1,950
|
Clark County, Nevada, Airport Revenue Bonds, Senior Lien Series 2009B, 6.881%, 7/01/42
|
7/19 at 100.00
|
Aa2
|
2,005,575
|
|
500
|
Clark County, Nevada, Airport System Revenue, Taxable Direct Payment Build America Bonds,
|
No Opt. Call
|
Aa2
|
550,595
|
|
Senior Series 2010C, 6.820%, 7/01/45
|
|||||
1,000
|
Washoe County, Nevada, Highway Revenue, Motor Vehicle Fuel Tax Bonds, Federally Taxable Direct
|
No Opt. Call
|
A+
|
1,223,250
|
|
Pay Build America Bonds, Series 2010E, 7.969%, 2/01/40
|
|||||
3,450
|
Total Nevada
|
3,779,420
|
|||
New Jersey – 5.5% (5.3% of Total Investments)
|
|||||
3,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Build America
|
No Opt. Call
|
A+
|
3,027,600
|
|
Bonds Issuer Subsidy Program, Series 2010C, 5.754%, 12/15/28
|
|||||
2,500
|
New Jersey Turnpike Authority, Revenue Bonds, Build America Taxable Bonds, Series 2010A,
|
No Opt. Call
|
A+
|
2,929,500
|
|
7.102%, 1/01/41
|
|||||
2,050
|
Rutgers State University, New Jersey, Revenue Bonds, Build America Taxable Bond Series 2010H,
|
No Opt. Call
|
AA
|
2,153,525
|
|
5.665%, 5/01/40
|
|||||
7,550
|
Total New Jersey
|
8,110,625
|
|||
New York – 11.1% (10.5% of Total Investments)
|
|||||
2,000
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Tender
|
No Opt. Call
|
AAA
|
2,318,900
|
|
Option Bond Trust B004, 24.763%, 3/15/40 (IF)
|
|||||
2,000
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Federally
|
No Opt. Call
|
A
|
2,175,100
|
|
Taxable Issuer Subsidy Build America Bonds, Series 2010A, 6.668%, 11/15/39
|
|||||
3,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
|
No Opt. Call
|
AA+
|
3,004,440
|
|
Bonds, Second Generation Resolution, Build America Taxable Bonds, Fiscal 2011 Series 2010AA,
|
|||||
5.440%, 6/15/43
|
|||||
2,000
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
|
No Opt. Call
|
AA+
|
2,770,600
|
|
Bonds, Second Generation Resolution, Taxable Tender Option Bonds Trust T30001-2,
|
|||||
26.448%, 6/15/44 (IF)
|
|||||
2,955
|
New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Build
|
No Opt. Call
|
AA–
|
3,236,080
|
|
America Taxable Bond Fiscal 2011 Series 2010S-1B, 6.828%, 7/15/40
|
|||||
2,500
|
New York City, New York, General Obligation Bonds, Federally Taxable Build America Bonds,
|
12/20 at 100.00
|
AA
|
2,704,475
|
|
Series 2010-F1, 6.646%, 12/01/31
|
|||||
14,455
|
Total New York
|
16,209,595
|
|||
North Carolina – 1.0% (1.0% of Total Investments)
|
|||||
1,400
|
North Carolina Turnpike Authority, Triangle Expressway System State Annual Appropriation
|
1/19 at 100.00
|
AA
|
1,465,380
|
|
Revenue Bonds, Federally Taxable Issuer Subsidy Build America Bonds, Series 2009B,
|
|||||
6.700%, 1/01/39
|
|||||
Ohio – 4.0% (3.8% of Total Investments)
|
|||||
2,500
|
American Municipal Power Inc., Ohio, Meldahl Hydroelectric Projects Revenue Bonds, Federally
|
No Opt. Call
|
A
|
2,835,400
|
|
Taxable Build America Bonds, Series 2010B, 7.499%, 2/15/50
|
|||||
3,000
|
Northeast Ohio Regional Sewer District, Wastewater Improvement Revenue Bonds, Build America
|
11/20 at 100.00
|
AA+
|
3,009,960
|
|
Taxable Bonds, Series 2010, 6.038%, 11/15/40
|
|||||
5,500
|
Total Ohio
|
5,845,360
|
|||
Pennsylvania – 4.1% (3.9% of Total Investments)
|
|||||
1,000
|
Kiski Area School District, Westmoreland County, Pennsylvania, General Obligation Bonds, Build
|
9/20 at 100.00
|
Aa3
|
1,039,980
|
|
America Taxable Bond Series 2010, 6.626%, 9/01/35 – AGM Insured
|
|||||
2,500
|
Pennsylvania State, General Obligation Bonds, Build America Taxable Bonds, Third Series 2010B,
|
7/20 at 100.00
|
Aa1
|
2,556,425
|
|
5.850%, 7/15/30
|
|||||
2,500
|
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Build America Taxable Bonds, Series
|
No Opt. Call
|
Aa3
|
2,403,500
|
|
2010B, 5.511%, 12/01/45
|
|||||
6,000
|
Total Pennsylvania
|
5,999,905
|
|||
South Carolina – 7.0% (6.7% of Total Investments)
|
|||||
205
|
South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper,
|
No Opt. Call
|
Aa2
|
312,912
|
|
Federally Taxable Build America Bond Trust T30002, 29.630%, 1/01/50 (IF)
|
|||||
8,985
|
South Carolina Public Service Authority, Electric System Revenue Bonds, Santee Cooper,
|
No Opt. Call
|
AA–
|
9,930,941
|
|
Series 2010A, 6.454%, 1/01/50 (UB)
|
|||||
9,190
|
Total South Carolina
|
10,243,853
|
|||
Tennessee – 2.1% (2.0% of Total Investments)
|
|||||
3,000
|
Metropolitan Government Nashville & Davidson County Convention Center Authority, Tennesse,
|
No Opt. Call
|
Aa2
|
3,138,270
|
|
Tourism Tax Revenue Bonds, Build America Taxable Bonds, Subordinate Lien Series 2010B,
|
|||||
6.731%, 7/01/43
|
|||||
Texas – 7.8% (7.4% of Total Investments)
|
|||||
1,810
|
Board of Regents, University of Texas System, Financing System Revenue Bonds, Build America
|
8/19 at 100.00
|
AAA
|
1,914,256
|
|
Taxable Bonds, Series 2009B, 6.276%, 8/15/41
|
|||||
2,705
|
Dallas Area Rapid Transit, Texas, Senior Lien Sales Tax Revenue Bonds, Build America Taxable
|
No Opt. Call
|
AA+
|
2,985,833
|
|
Bonds, Series 2009B, 5.999%, 12/01/44
|
|||||
2,000
|
Dallas Convention Center Hotel Development Corporation, Texas, Hotel Revenue Bonds, Build
|
No Opt. Call
|
A+
|
2,090,120
|
|
America Taxable Bonds, Series 09B, 7.088%, 1/01/42
|
|||||
2,500
|
Dallas Independent School District, Dallas County, Texas, General Obligation Bonds, School
|
2/21 at 100.00
|
AAA
|
2,734,100
|
|
Building, Build America Taxable Bond Series 2010C, 6.450%, 2/15/35, (4)
|
|||||
1,500
|
North Texas Tollway Authority, System Revenue Bonds, Subordinate Lien Taxable Revenue Bonds,
|
2/20 at 100.00
|
Baa3
|
1,622,100
|
|
Federally Taxable Build America Bonds, Series 2010-B2, 8.910%, 2/01/30
|
|||||
10,515
|
Total Texas
|
11,346,409
|
|||
Virginia – 1.4% (1.3% of Total Investments)
|
|||||
3,000
|
Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds,
|
6/12 at 100.00
|
Baa3
|
2,017,829
|
|
Refunding Senior Lien Series 2007A1, 6.706%, 6/01/46
|
|||||
Washington – 1.7% (1.7% of Total Investments)
|
|||||
1,000
|
Washington State Convention Center Public Facilities District, Lodging Tax Revenue Bonds,
|
No Opt. Call
|
Aa3
|
1,056,610
|
|
Build America Taxable Bond Series 2010B, 6.790%, 7/01/40
|
|||||
1,500
|
Washington State Economic Development Finance Authority, Biomedical Research Properties Lease
|
No Opt. Call
|
AA+
|
1,490,310
|
|
Revenue Bonds, BuilAmerica Series 2010, 6.516%, 7/01/42
|
|||||
2,500
|
Total Washington
|
2,546,920
|
|||
$ 143,750
|
Total Investments (cost $142,100,308) – 105.1%
|
153,705,664
|
|||
Floating Rate Obligations – (4.9)%
|
(7,190,000)
|
||||
Other Assets Less Liabilities – (0.2)% (5)
|
(322,518)
|
||||
Net Assets – 100%
|
$ 146,193,146
|
Investments in Derivatives
|
||||||||
Forward Swaps outstanding at June 30, 2011:
|
||||||||
Fund
|
Fixed Rate
|
Unrealized
|
||||||
Notional
|
Pay/Receive
|
Floating Rate
|
Fixed Rate
|
Payment
|
Effective
|
Termination
|
Appreciation
|
|
Counterparty
|
Amount
|
Floating Rate
|
Index
|
(Annualized)
|
Frequency
|
Date (6)
|
Date
|
(Depreciation)
|
Barclays Bank PLC
|
$11,200,000
|
Receive
|
1-Month USD-LIBOR
|
2.240%
|
Monthly
|
12/17/10
|
12/17/15
|
$ (246,590)
|
Morgan Stanley
|
11,200,000
|
Receive
|
1-Month USD-LIBOR
|
0.496
|
Monthly
|
12/17/10
|
12/17/11
|
(12,665)
|
Morgan Stanley
|
11,200,000
|
Receive
|
1-Month USD-LIBOR
|
1.295
|
Monthly
|
12/17/10
|
12/17/13
|
(130,544)
|
Morgan Stanley
|
20,000,000
|
Receive
|
3-Month USD-LIBOR
|
4.334
|
Semi-Annually
|
1/12/12
|
1/12/40
|
(532,851)
|
Morgan Stanley
|
12,000,000
|
Receive
|
3-Month USD-LIBOR
|
4.435
|
Semi-Annually
|
2/24/12
|
2/24/40
|
(466,584)
|
Morgan Stanley
|
17,000,000
|
Receive
|
3-Month USD-LIBOR
|
4.600
|
Semi-Annually
|
1/27/12
|
1/27/40
|
(1,186,236)
|
$(2,575,470)
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Investments:
|
|||||||||||||||
Municipal Bonds
|
$ | — | $ | 153,705,664 | $ | — | $ | 153,705,664 | |||||||
Derivatives:
|
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Forward Swaps*
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— | (2,575,470 | ) | — | (2,575,470 | ) | |||||||||
Total
|
$ | — | $ | 151,130,194 | $ | — | $ | 151,130,194 |
Location on the Statements of Assets Liabilities
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Underlying
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Derivative
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Asset Derivatives
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Liability Derivatives
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Risk Exposure
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Instrument
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Location
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Value
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Location
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Value
|
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Interest Rate
|
Swaps
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Unrealized appreciation
|
Unrealized depreciation
|
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on swaps*
|
$ | — |
on swaps*
|
$ | 2,575,470 |
Gross unrealized:
|
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Appreciation
|
$ | 11,978,116 | |
Depreciation
|
(380,250 | ) | |
Net unrealized appreciation (depreciation) of investments
|
$ | 11,597,866 |
(1)
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All percentages shown in the Portfolio of Investments are based on net assets unless otherwise noted.
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(2)
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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.
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(3)
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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.
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(4)
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Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives and/or inverse floating rate transactions.
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(5) | Other Assets Less Liabilities includes Value and/or Net Unrealized Appreciation (Depreciation) of derivative instruments as listed within investments in Derivatives. |
(6)
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Effective date represents the date on which both the Fund and Counterparty commence interest payment accruals on each forward swap contract.
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N/R |
Not rated.
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(IF) |
Inverse floating rate investment.
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(UB) |
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
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USD-LIBOR | United States Dollar-London Inter-Bank Offered Rate. |
a.
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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)).
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b.
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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.
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