Portfolio of Investments (Unaudited)
|
|||||
Nuveen California AMT-Free Municipal Income Fund (NKX)
|
|||||
(formerly known as Nuveen Insured California Tax-Free Advantage Municipal Fund)
|
|||||
May 31, 2012
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
Consumer Staples – 4.6% (3.2% of Total Investments)
|
|||||
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
|||||
Bonds, Series 2007A-1:
|
|||||
$ 12,785
|
5.750%, 6/01/47
|
6/17 at 100.00
|
BB–
|
$ 10,251,013
|
|
9,500
|
5.125%, 6/01/47
|
6/17 at 100.00
|
BB–
|
6,872,205
|
|
15,980
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/22 at 100.00
|
BB–
|
11,953,519
|
|
Bonds, Series 2007A-2, 0.000%, 6/01/37
|
|||||
38,265
|
Total Consumer Staples
|
29,076,737
|
|||
Education and Civic Organizations – 2.2% (1.6% of Total Investments)
|
|||||
1,675
|
California Educational Facilities Authority, Revenue Bonds, University of San Diego, Series
|
10/12 at 100.00
|
A2
|
1,685,804
|
|
2002A, 5.250%, 10/01/30
|
|||||
1,600
|
California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento
|
1/22 at 100.00
|
N/R
|
1,626,896
|
|
Valley & Northern Nevada Project, Series 2012A, 6.875%, 1/01/42
|
|||||
3,000
|
California State University, Systemwide Revenue Bonds, Series 2005A, 5.000%, 11/01/25 –
|
5/15 at 100.00
|
Aa2
|
3,298,980
|
|
AMBAC Insured
|
|||||
1,000
|
California State University, Systemwide Revenue Bonds, Series 2005C, 5.000%, 11/01/27 –
|
11/15 at 100.00
|
Aa2
|
1,108,550
|
|
NPFG Insured
|
|||||
6,000
|
University of California, Revenue Bonds, Multi-Purpose Projects, Series 2003A, 5.000%,
|
5/13 at 100.00
|
Aa1
|
6,227,940
|
|
5/15/27 – AMBAC Insured
|
|||||
13,275
|
Total Education and Civic Organizations
|
13,948,170
|
|||
Health Care – 11.3% (7.9% of Total Investments)
|
|||||
5,000
|
ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue
|
10/12 at 100.00
|
A–
|
5,007,150
|
|
Bonds, Sansum-Santa Barbara Medical Foundation Clinic, Series 2002A, 5.600%, 4/01/26
|
|||||
1,630
|
California Health Facilities Financing Authority, Revenue Bonds, Childrens Hospital Los
|
7/20 at 100.00
|
AA–
|
1,721,622
|
|
Angeles, Series 2010A, 5.250%, 7/01/38 – AGC Insured
|
|||||
1,000
|
California Statewide Communities Development Authority, Revenue Bonds, ValleyCare Health
|
7/17 at 100.00
|
N/R
|
1,009,940
|
|
System, Series 2007A, 5.125%, 7/15/31
|
|||||
4,000
|
California Statewide Community Development Authority, Insured Health Facility Revenue Bonds,
|
7/17 at 100.00
|
AA–
|
4,301,000
|
|
Catholic Healthcare West, Series 2008K, 5.500%, 7/01/41 – AGC Insured
|
|||||
3,000
|
California Statewide Community Development Authority, Revenue Bonds, Childrens Hospital of Los
|
8/17 at 100.00
|
BBB+
|
3,020,400
|
|
Angeles, Series 2007, 5.000%, 8/15/47
|
|||||
10,815
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanante System,
|
3/16 at 100.00
|
A+
|
11,250,520
|
|
Series 2006, 5.000%, 3/01/41
|
|||||
5,020
|
California Statewide Community Development Authority, Revenue Bonds, Kaiser Permanente System,
|
3/16 at 100.00
|
AA+
|
5,317,736
|
|
Series 2006, 5.000%, 3/01/41 – BHAC Insured (UB)
|
|||||
4,060
|
California Statewide Community Development Authority, Revenue Bonds, Sherman Oaks Health
|
No Opt. Call
|
A1
|
4,495,638
|
|
System, Series 1998A, 5.000%, 8/01/22 – AMBAC Insured
|
|||||
7,500
|
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health System,
|
7/18 at 100.00
|
AA–
|
8,129,775
|
|
Series 2007A, 5.750%, 7/01/47 – FGIC Insured
|
|||||
4,543
|
California Statewide Community Development Authority, Revenue Bonds, St. Joseph Health
|
7/18 at 100.00
|
AA–
|
6,020,929
|
|
System, Trust 2554, 18.352%, 7/01/47 – AGM Insured (IF)
|
|||||
10,000
|
California Statewide Community Development Authority, Revenue Bonds, Sutter Health, Series
|
8/17 at 100.00
|
AA–
|
10,583,200
|
|
2007C, 5.000%, 8/15/38 – AMBAC Insured
|
|||||
1,145
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2010,
|
11/20 at 100.00
|
Baa3
|
1,206,338
|
|
6.000%, 11/01/41
|
|||||
7,670
|
Santa Clara County Financing Authority, California, Insured Revenue Bonds, El Camino Hospital,
|
8/17 at 100.00
|
A+
|
8,247,858
|
|
Series 2007A, 5.750%, 2/01/41 – AMBAC Insured
|
|||||
650
|
University of California, Hospital Revenue Bonds, UCLA Medical Center, Series 2004A, 5.500%,
|
5/13 at 100.00
|
N/R
|
658,132
|
|
5/15/18 – AMBAC Insured
|
|||||
66,033
|
Total Health Care
|
70,970,238
|
|||
Housing/Multifamily – 0.2% (0.1% of Total Investments)
|
|||||
1,165
|
Poway, California, Housing Revenue Bonds, Revenue Bonds, Poinsettia Mobile Home Park, Series
|
5/13 at 102.00
|
AA–
|
1,203,538
|
|
2003, 5.000%, 5/01/23
|
|||||
Long-Term Care – 2.2% (1.5% of Total Investments)
|
|||||
3,000
|
ABAG Finance Authority for Non-Profit Corporations, California, Cal-Mortgage Insured Revenue
|
5/20 at 100.00
|
A–
|
3,271,590
|
|
Bonds, Channing House, Series 2010, 6.125%, 5/15/40
|
|||||
4,000
|
ABAG Finance Authority for Non-Profit Corporations, California, Insured Senior Living Revenue
|
11/12 at 100.00
|
A–
|
4,030,160
|
|
Bonds, Odd Fellows Home of California, Series 2003A, 5.200%, 11/15/22
|
|||||
2,000
|
California Health Facilities Financing Authority, Cal-Mortgage Insured Revenue Bonds, Northern
|
1/13 at 100.00
|
A–
|
2,021,180
|
|
California Retired Officers Community Corporation – Paradise Valley Estates, Series 2002,
|
|||||
5.250%, 1/01/26
|
|||||
1,575
|
California Health Facilities Financing Authority, Insured Revenue Bonds, California-Nevada
|
7/16 at 100.00
|
A–
|
1,621,478
|
|
Methodist Homes, Series 2006, 5.000%, 7/01/36
|
|||||
2,250
|
California Health Facilities Financing Authority, Insured Revenue Bonds, Community Program for
|
2/21 at 100.00
|
A–
|
2,618,100
|
|
Persons with Developmental Disabilities, Series 2011A, 6.250%, 2/01/26
|
|||||
12,825
|
Total Long-Term Care
|
13,562,508
|
|||
Tax Obligation/General – 28.7% (20.1% of Total Investments)
|
|||||
1,425
|
Bassett Unified School District, Los Angeles County, California, General Obligation Bonds,
|
8/16 at 100.00
|
A–
|
1,519,976
|
|
Series 2006B, 5.250%, 8/01/30 – FGIC Insured
|
|||||
900
|
California State, General Obligation Bonds, Series 2003, 5.000%, 2/01/21
|
8/13 at 100.00
|
A1
|
939,897
|
|
6,000
|
California State, General Obligation Bonds, Various Purpose Series 2010, 6.000%, 3/01/33
|
3/20 at 100.00
|
A1
|
7,238,460
|
|
1,000
|
California State, General Obligation Bonds, Various Purpose Series 2011, 5.250%, 9/01/25
|
9/21 at 100.00
|
A1
|
1,183,630
|
|
8,500
|
California State, Various Purpose General Obligation Refunding Bonds, Series 2012,
|
4/22 at 100.00
|
A1
|
9,159,940
|
|
5.000%, 4/01/42
|
|||||
835
|
California, General Obligation Refunding Bonds, Series 2002, 5.000%, 2/01/22 – NPFG Insured
|
8/12 at 100.00
|
A1
|
837,605
|
|
20,750
|
Coachella Valley Unified School District, Riverside County, California, General Obligation
|
No Opt. Call
|
AA–
|
3,520,030
|
|
Bonds, Capital Appreciation, Election 2005 Series 2010C, 0.000%, 8/01/43 – AGM Insured
|
|||||
7,575
|
Coast Community College District, Orange County, California, General Obligation Bonds, Series
|
8/18 at 100.00
|
Aa1
|
7,350,629
|
|
2006C, 0.000%, 8/01/31 – AGM Insured
|
|||||
2,500
|
Corona-Norco Unified School District, Riverside County, California, General Obligation Bonds,
|
8/18 at 100.00
|
Aa2
|
2,776,150
|
|
Election 2006 Series 2009B, 5.375%, 2/01/34 – AGC Insured
|
|||||
East Side Union High School District, Santa Clara County, California, General Obligation
|
|||||
Bonds, 2008 Election Series 2010B:
|
|||||
3,490
|
5.000%, 8/01/27 – AGC Insured
|
8/19 at 100.00
|
AA–
|
3,878,716
|
|
3,545
|
5.000%, 8/01/28 – AGC Insured
|
8/19 at 100.00
|
AA–
|
3,920,735
|
|
3,110
|
5.000%, 8/01/29 – AGC Insured
|
8/19 at 100.00
|
AA–
|
3,400,194
|
|
10,000
|
East Side Union High School District, Santa Clara County, California, General Obligation
|
8/13 at 47.75
|
A
|
4,282,500
|
|
Bonds, Series 2005E, 0.000%, 8/01/28 – SYNCORA GTY Insured
|
|||||
230
|
El Monte Union High School District, Los Angeles County, California, General Obligation Bonds,
|
6/13 at 100.00
|
AA–
|
237,705
|
|
Series 2003A, 5.000%, 6/01/28 – AGM Insured
|
|||||
El Segundo Unified School District, Los Angeles County, California, General Obligation Bonds,
|
|||||
Series 2004:
|
|||||
2,580
|
5.250%, 9/01/21 – FGIC Insured
|
9/14 at 100.00
|
AA–
|
2,819,992
|
|
1,775
|
5.250%, 9/01/22 – FGIC Insured
|
9/14 at 100.00
|
AA–
|
1,940,111
|
|
7,100
|
Fontana Unified School District, San Bernardino County, California, General Obligation Bonds,
|
No Opt. Call
|
AA–
|
8,881,674
|
|
Trust 2668, 9.475%, 2/01/16 – AGM Insured (IF)
|
|||||
1,225
|
Fresno Unified School District, Fresno County, California, General Obligation Refunding Bonds,
|
2/13 at 103.00
|
Aa3
|
1,304,882
|
|
Series 1998A, 6.550%, 8/01/20 – NPFG Insured
|
|||||
5,000
|
Grossmont Healthcare District, California, General Obligation Bonds, Series 2007A, 5.000%,
|
7/17 at 100.00
|
Aa2
|
5,296,950
|
|
7/15/37 – AMBAC Insured
|
|||||
1,180
|
Jurupa Unified School District, Riverside County, California, General Obligation Bonds, Series
|
8/13 at 100.00
|
AA–
|
1,230,905
|
|
2004, 5.000%, 8/01/21 – FGIC Insured
|
|||||
1,255
|
Los Angeles Community College District, Los Angeles County, California, General Obligation
|
8/15 at 100.00
|
Aa1
|
1,385,194
|
|
Bonds, Series 2005A, 5.000%, 8/01/24 – AGM Insured
|
|||||
1,270
|
Merced City School District, Merced County, California, General Obligation Bonds, Series 2004,
|
8/13 at 100.00
|
AA–
|
1,324,788
|
|
5.000%, 8/01/22 – FGIC Insured
|
|||||
4,500
|
Mount Diablo Unified School District, Contra Costa County, California, General Obligation
|
8/25 at 100.00
|
AA–
|
3,056,715
|
|
Bonds, Series 2010A, 0.000%, 8/01/30 – AGM Insured
|
|||||
1,000
|
Murrieta Valley Unified School District, Riverside County, California, General Obligation
|
9/13 at 100.00
|
A+
|
1,045,520
|
|
Bonds, Series 2003A, 5.000%, 9/01/26 – FGIC Insured
|
|||||
3,000
|
Murrieta Valley Unified School District, Riverside County, California, General Obligation
|
9/17 at 100.00
|
AA–
|
3,208,680
|
|
Bonds, Series 2007, 4.500%, 9/01/30 – AGM Insured
|
|||||
2,500
|
Oakland Unified School District, Alameda County, California, General Obligation Bonds, Series
|
8/12 at 100.00
|
BBB
|
2,514,825
|
|
2002, 5.250%, 8/01/21 – FGIC Insured
|
|||||
16,000
|
Poway Unified School District, San Diego County, California, School Facilities Improvement
|
No Opt. Call
|
Aa2
|
2,741,920
|
|
District 2007-1 General Obligation Bonds, Series 2011B, 0.000%, 8/01/46
|
|||||
980
|
Roseville Joint Union High School District, Placer County, California, General Obligation
|
8/15 at 100.00
|
AA+
|
1,073,384
|
|
Bonds, Series 2006B, 5.000%, 8/01/27 – FGIC Insured
|
|||||
5,500
|
Sacramento City Unified School District, Sacramento County, California, General Obligation
|
7/15 at 100.00
|
AA
|
6,008,200
|
|
Bonds, Series 2005, 5.000%, 7/01/27 – NPFG Insured
|
|||||
1,125
|
San Diego Unified School District, San Diego County, California, General Obligation Bonds,
|
No Opt. Call
|
Aa2
|
825,649
|
|
Election of 1998, Series 1999A, 0.000%, 7/01/21 – FGIC Insured
|
|||||
11,980
|
San Diego Unified School District, San Diego County, California, General Obligation Bonds,
|
No Opt. Call
|
Aa2
|
4,810,449
|
|
Refunding Series 2012 R-1, 0.000%, 7/01/31
|
|||||
2,000
|
San Francisco Community College District, California, General Obligation Bonds, Series 2002A,
|
6/12 at 100.00
|
Aa2
|
2,006,620
|
|
5.000%, 6/15/26 – FGIC Insured
|
|||||
5,000
|
San Jacinto Unified School District, Riverside County, California, General Obligation Bonds,
|
8/17 at 100.00
|
AA–
|
5,445,800
|
|
Series 2007, 5.250%, 8/01/32 – AGM Insured
|
|||||
1,500
|
San Juan Capistano, California, General Obligation Bonds, Open Space Program, Tender Option
|
No Opt. Call
|
AAA
|
2,139,960
|
|
Bond Trust 3646, 17.770%, 8/01/17 (IF)
|
|||||
San Ysidro School District, San Diego County, California, General Obligation Bonds, 1997
|
|||||
Election Series 2011F:
|
|||||
7,230
|
0.000%, 8/01/42 – AGM Insured
|
8/21 at 21.00
|
AA–
|
941,924
|
|
10,450
|
0.000%, 8/01/43 – AGM Insured
|
8/21 at 19.43
|
AA–
|
1,258,912
|
|
21,225
|
0.000%, 8/01/44 – AGM Insured
|
8/21 at 17.98
|
AA–
|
2,364,253
|
|
12,550
|
0.000%, 8/01/45 – AGM Insured
|
8/21 at 16.64
|
AA–
|
1,292,148
|
|
23,425
|
0.000%, 8/01/46 – AGM Insured
|
8/21 at 15.39
|
AA–
|
2,230,997
|
|
14,915
|
Southwestern Community College District, San Diego County, California, General Obligation
|
No Opt. Call
|
Aa2
|
3,305,910
|
|
Bonds, Election of 2008, Series 2011C, 0.000%, 8/01/41
|
|||||
Stockton Unified School District, San Joaquin County, California, General Obligation Bonds,
|
|||||
Election 2008 Series 2011D:
|
|||||
24,280
|
0.000%, 8/01/47 – AGC Insured
|
8/37 at 100.00
|
AA–
|
12,501,044
|
|
38,845
|
0.000%, 8/01/50 – AGM Insured
|
8/37 at 100.00
|
AA–
|
20,044,408
|
|
15,780
|
Sylvan Union School District, Stanislaus County, California, General Obligation Bonds,
|
No Opt. Call
|
AA–
|
5,696,264
|
|
Election of 2006, Series 2010, 0.000%, 8/01/49 – AGM Insured
|
|||||
10,000
|
Vista Unified School District, San Diego County, California, General Obligation Bonds, Series
|
8/12 at 100.00
|
Aa2
|
10,067,700
|
|
2002A, 5.000%, 8/01/23 – AGM Insured
|
|||||
2,445
|
Washington Unified School District, Yolo County, California, General Obligation Bonds, Series
|
8/13 at 100.00
|
AA–
|
2,544,071
|
|
2004A, 5.000%, 8/01/21 – FGIC Insured
|
|||||
3,905
|
West Kern Community College District, California, General Obligation Bonds, Election 2004,
|
11/17 at 100.00
|
A+
|
4,156,912
|
|
Series 2007C, 5.000%, 10/01/32 – SYNCORA GTY Insured
|
|||||
12,520
|
Yosemite Community College District, California, General Obligation Bonds, Capital
|
No Opt. Call
|
Aa2
|
4,989,220
|
|
Appreciation, Election 2004, Series 2010D, 0.000%, 8/01/42
|
|||||
343,900
|
Total Tax Obligation/General
|
180,702,148
|
|||
Tax Obligation/Limited – 51.6% (36.0% of Total Investments)
|
|||||
Anaheim Public Finance Authority, California, Subordinate Lease Revenue Bonds, Public
|
|||||
Improvement Project, Series 1997C:
|
|||||
5,130
|
0.000%, 9/01/18 – AGM Insured
|
No Opt. Call
|
AA–
|
4,191,774
|
|
8,000
|
0.000%, 9/01/21 – AGM Insured
|
No Opt. Call
|
AA–
|
5,555,120
|
|
2,235
|
Antioch Public Financing Authority, California, Lease Revenue Refunding Bonds, Municipal
|
7/12 at 100.00
|
A
|
2,236,855
|
|
Facilities Project, Refunding Series 2002A, 5.500%, 1/01/32 – NPFG Insured
|
|||||
2,000
|
Baldwin Park Public Financing Authority, California, Sales Tax and Tax Allocation Bonds,
|
8/13 at 102.00
|
BBB
|
2,074,260
|
|
Puente Merced Redevelopment Project, Series 2003, 5.250%, 8/01/21
|
|||||
7,895
|
Brea and Olinda Unified School District, Orange County, California, Certificates of
|
8/12 at 100.00
|
AA–
|
7,946,475
|
|
Participation Refunding, Series 2002A, 5.125%, 8/01/26 – AGM Insured
|
|||||
1,165
|
Burbank Public Financing Authority, California, Revenue Refunding Bonds, Golden State
|
12/13 at 100.00
|
A
|
1,187,927
|
|
Redevelopment Project, Series 2003A, 5.250%, 12/01/22 – AMBAC Insured
|
|||||
2,200
|
California Infrastructure and Economic Development Bank, Los Angeles County, Revenue Bonds,
|
9/13 at 101.00
|
A+
|
2,252,646
|
|
Department of Public Social Services, Series 2003, 5.000%, 9/01/28 – AMBAC Insured
|
|||||
California Infrastructure and Economic Development Bank, Revenue Bonds, North County Center
|
|||||
for Self-Sufficiency Corporation, Series 2004:
|
|||||
1,215
|
5.000%, 12/01/19 – AMBAC Insured
|
12/13 at 100.00
|
AA+
|
1,294,182
|
|
1,535
|
5.000%, 12/01/20 – AMBAC Insured
|
12/13 at 100.00
|
AA+
|
1,633,608
|
|
1,615
|
5.000%, 12/01/21 – AMBAC Insured
|
12/13 at 100.00
|
AA+
|
1,718,748
|
|
1,780
|
5.000%, 12/01/23 – AMBAC Insured
|
12/13 at 100.00
|
AA+
|
1,892,692
|
|
3,725
|
California State Public Works Board, Lease Revenue Bonds, Department of Corrections &
|
1/16 at 100.00
|
A2
|
4,131,994
|
|
Rehabilitation, Series 2005J, 5.000%, 1/01/17 – AMBAC Insured
|
|||||
4,000
|
California State Public Works Board, Lease Revenue Bonds, Department of General Services,
|
12/12 at 100.00
|
A2
|
4,088,440
|
|
Capital East End Project, Series 2002A, 5.000%, 12/01/27 – AMBAC Insured
|
|||||
3,100
|
California State Public Works Board, Lease Revenue Bonds, Department of Health Services,
|
11/15 at 100.00
|
A2
|
3,246,909
|
|
Richmond Lab, Series 2005B, 5.000%, 11/01/30 – SYNCORA GTY Insured
|
|||||
4,000
|
California State Public Works Board, Lease Revenue Bonds, Various Capital Projects, Series
|
10/19 at 100.00
|
A2
|
4,598,400
|
|
2009G-1, 5.750%, 10/01/30
|
|||||
1,210
|
Capistrano Unified School District, Orange County, California, Special Tax Bonds, Community
|
9/15 at 100.00
|
BBB
|
1,242,005
|
|
Facilities District, Series 2005, 5.000%, 9/01/24 – FGIC Insured
|
|||||
2,520
|
Chino Redevelopment Agency, California, Merged Chino Redevelopment Project Area Tax Allocation
|
9/16 at 101.00
|
A–
|
2,499,790
|
|
Bonds, Series 2006, 5.000%, 9/01/38 – AMBAC Insured
|
|||||
10,190
|
Chula Vista Public Financing Authority, California, Pooled Community Facility District
|
9/15 at 100.00
|
BBB
|
10,122,644
|
|
Assessment Revenue Bonds, Series 2005A, 4.500%, 9/01/27 – NPFG Insured
|
|||||
1,430
|
Cloverdale Community Development Agency, California, Tax Allocation Bonds, Cloverdale
|
8/16 at 100.00
|
A–
|
1,434,962
|
|
Redevelopment Project, Refunding Series 2006, 5.000%, 8/01/36 – AMBAC Insured
|
|||||
1,900
|
Corona-Norco Unified School District, Riverside County, California, Special Tax Bonds,
|
9/12 at 100.00
|
N/R
|
1,902,451
|
|
Community Facilities District 98-1, Series 2002, 5.100%, 9/01/25 – AMBAC Insured
|
|||||
7,035
|
Corona-Norco Unified School District, Riverside County, California, Special Tax Bonds,
|
9/13 at 100.00
|
BBB
|
7,047,944
|
|
Community Facilities District 98-1, Series 2003, 5.000%, 9/01/28 – NPFG Insured
|
|||||
3,145
|
Culver City Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment
|
11/12 at 100.00
|
BBB
|
3,145,409
|
|
Project, Series 2002A, 5.125%, 11/01/25 – NPFG Insured
|
|||||
1,905
|
Dinuba Redevelopment Agency, California, Tax Allocation Bonds, Merged City of Dinuba
|
9/12 at 101.00
|
A–
|
1,913,668
|
|
Redevelopment Project and Dinuba Redevelopment Project 2, As Amended, Refunding
|
|||||
Series 2001, 5.000%, 9/01/31 – NPFG Insured
|
|||||
El Monte, California, Senior Lien Certificates of Participation, Department of Public Services
|
|||||
Facility Phase II, Series 2001:
|
|||||
11,800
|
5.000%, 1/01/21 – AMBAC Insured
|
7/12 at 100.00
|
A2
|
11,817,580
|
|
5,000
|
5.250%, 1/01/34 – AMBAC Insured
|
7/12 at 100.00
|
A2
|
5,001,950
|
|
5,610
|
Folsom Public Financing Authority, California, Special Tax Revenue Bonds, Series 2004A,
|
9/12 at 102.00
|
N/R
|
5,660,658
|
|
5.000%, 9/01/21 – AMBAC Insured
|
|||||
8,280
|
Fontana Public Financing Authority, California, Tax Allocation Revenue Bonds, North Fontana
|
10/15 at 100.00
|
A
|
8,448,664
|
|
Redevelopment Project, Series 2005A, 5.000%, 10/01/32 – AMBAC Insured
|
|||||
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
|||||
Asset-Backed Revenue Bonds, Series 2005A:
|
|||||
7,250
|
5.000%, 6/01/35 – FGIC Insured
|
6/15 at 100.00
|
AA–
|
7,437,558
|
|
11,065
|
5.000%, 6/01/45 – AMBAC Insured
|
6/15 at 100.00
|
A2
|
11,235,733
|
|
7,500
|
5.000%, 6/01/45 – AGC Insured
|
6/15 at 100.00
|
AA–
|
7,649,475
|
|
20,000
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
6/15 at 100.00
|
AA–
|
20,797,200
|
|
Asset-Backed Revenue Bonds, Tender Option Bonds Trust 4686, 8.867%, 6/01/45 – AGC Insured (IF) (4)
|
|||||
2,000
|
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
|
6/15 at 100.00
|
A2
|
2,092,580
|
|
Revenue Bonds, Tender Option Bonds Trust 2040, 10.295%, 6/01/45 – FGIC Insured (IF)
|
|||||
3,185
|
Hesperia Public Financing Authority, California, Redevelopment and Housing Projects Tax
|
9/17 at 100.00
|
Ba1
|
2,510,194
|
|
Allocation Bonds, Series 2007A, 5.000%, 9/01/37 – SYNCORA GTY Insured
|
|||||
1,700
|
Hesperia Unified School District, San Bernardino County, California, Certificates of
|
2/17 at 100.00
|
A–
|
1,706,477
|
|
Participation, Capital Improvement, Series 2007, 5.000%, 2/01/41 – AMBAC Insured
|
|||||
435
|
Indian Wells Redevelopment Agency, California, Tax Allocation Bonds, Consolidated Whitewater
|
9/13 at 100.00
|
A3
|
441,347
|
|
Project Area, Series 2003A, 5.000%, 9/01/20 – AMBAC Insured
|
|||||
2,115
|
Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment
|
No Opt. Call
|
N/R
|
2,309,728
|
|
Project, Refunding Series 1998A, 5.250%, 5/01/23 – AMBAC Insured
|
|||||
Inglewood Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment
|
|||||
Project, Subordinate Lien Series 2007A-1:
|
|||||
1,665
|
5.000%, 5/01/24 – AMBAC Insured
|
5/17 at 100.00
|
BBB+
|
1,666,365
|
|
710
|
5.000%, 5/01/25 – AMBAC Insured
|
5/17 at 100.00
|
BBB+
|
705,967
|
|
5,125
|
Irvine Public Facilities and Infrastructure Authority, California, Assessment Revenue Bonds,
|
9/13 at 100.00
|
N/R
|
5,194,751
|
|
Series 2003C, 5.000%, 9/02/21 – AMBAC Insured
|
|||||
Jurupa Community Services District, California, Special Tax Bonds, Community Facilities
|
|||||
District 39 Eastvale Area, Series 2012A:
|
|||||
1,000
|
5.000%, 9/01/37
|
9/12 at 103.00
|
N/R
|
1,003,910
|
|
2,000
|
5.125%, 9/01/42
|
9/12 at 103.00
|
N/R
|
2,022,900
|
|
3,500
|
La Quinta Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project
|
9/12 at 101.00
|
A+
|
3,540,075
|
|
Area 1, Series 2001, 5.100%, 9/01/31 – AMBAC Insured
|
|||||
3,400
|
La Quinta Redevelopment Agency, California, Tax Allocation Bonds, Redevelopment Project Area
|
9/12 at 102.00
|
A+
|
3,486,326
|
|
1, Series 2002, 5.000%, 9/01/22 – AMBAC Insured
|
|||||
5,000
|
La Quinta Redevelopment Agency, California, Tax Allocation Refunding Bonds, Redevelopment
|
9/12 at 100.00
|
A+
|
5,015,650
|
|
Project Area 1, Series 1998, 5.200%, 9/01/28 – AMBAC Insured
|
|||||
Lancaster Redevelopment Agency, California, Tax Allocation Bonds, Combined Redevelopment
|
|||||
Project Areas Housing Programs, Subordinate Refunding Series 2003:
|
|||||
2,505
|
4.750%, 8/01/23 – NPFG Insured
|
8/15 at 102.00
|
BBB+
|
2,507,129
|
|
2,425
|
4.750%, 8/01/27 – NPFG Insured
|
8/15 at 102.00
|
BBB+
|
2,388,795
|
|
3,690
|
Los Angeles Community Redevelopment Agency, California, Lease Revenue Bonds, Manchester Social
|
9/15 at 100.00
|
A1
|
3,753,320
|
|
Services Project, Series 2005, 5.000%, 9/01/37 – AMBAC Insured
|
|||||
1,895
|
Los Angeles Community Redevelopment Agency, California, Tax Allocation Bonds, Bunker Hill
|
12/14 at 100.00
|
AA–
|
2,063,011
|
|
Project, Series 2004A, 5.000%, 12/01/20 – AGM Insured
|
|||||
6,000
|
Los Angeles Municipal Improvement Corporation, California, Lease Revenue Bonds, Police
|
1/17 at 100.00
|
A+
|
6,228,540
|
|
Headquarters, Series 2006A, 4.750%, 1/01/31 – FGIC Insured
|
|||||
7,460
|
Los Angeles, California, Certificates of Participation, Municipal Improvement Corporation,
|
6/13 at 100.00
|
A+
|
7,577,495
|
|
Series 2003AW, 5.000%, 6/01/33 – AMBAC Insured
|
|||||
1,500
|
Los Osos, California, Improvement Bonds, Community Services Wastewater Assessment District 1,
|
3/13 at 100.00
|
BBB
|
1,469,115
|
|
Series 2002, 5.000%, 9/02/33 – NPFG Insured
|
|||||
9,270
|
Moreno Valley Community Redevelopment Agency, California, Tax Allocation Bonds, Series 2007A,
|
8/17 at 100.00
|
A–
|
9,279,826
|
|
5.000%, 8/01/38 – AMBAC Insured
|
|||||
800
|
Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds,
|
9/14 at 100.00
|
N/R
|
818,112
|
|
Community Facilities District 2003-1, Series 2004, 5.550%, 9/01/29
|
|||||
2,810
|
Oakland Joint Powers Financing Authority, California, Lease Revenue Bonds, Administration
|
8/18 at 100.00
|
AA–
|
3,112,300
|
|
Building Projects, Series 2008B, 5.000%, 8/01/21 – AGC Insured
|
|||||
3,300
|
Pacifica, California, Certificates of Participation, Series 2008, 5.375%, 1/01/37 –
|
1/16 at 102.00
|
A
|
3,513,510
|
|
AMBAC Insured
|
|||||
5,000
|
Palm Desert Financing Authority, California, Tax Allocation Revenue Refunding Bonds, Project
|
10/12 at 102.00
|
BBB
|
5,020,500
|
|
Area 1, Series 2002, 5.000%, 4/01/25 – NPFG Insured
|
|||||
1,000
|
Palm Springs Financing Authority, California, Lease Revenue Bonds, Convention Center Project,
|
11/14 at 102.00
|
A
|
1,049,640
|
|
Refunding Series 2004A, 5.500%, 11/01/35 – NPFG Insured
|
|||||
4,140
|
Plumas County, California, Certificates of Participation, Capital Improvement Program, Series
|
6/13 at 101.00
|
A
|
4,214,437
|
|
2003A, 5.000%, 6/01/28 – AMBAC Insured
|
|||||
390
|
Poway Redevelopment Agency, California, Tax Allocation Refunding Bonds, Paguay Redevelopment
|
12/12 at 100.00
|
BBB
|
391,782
|
|
Project, Series 2000, 5.750%, 6/15/33 – NPFG Insured
|
|||||
7,000
|
Rancho Cucamonga Redevelopment Agency, California, Housing Set-Aside Tax Allocation Bonds,
|
9/17 at 100.00
|
A+
|
7,041,160
|
|
Series 2007A, 5.000%, 9/01/34 – NPFG Insured
|
|||||
1,045
|
Rialto Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area, Series
|
9/15 at 100.00
|
A–
|
1,048,177
|
|
2005A, 5.000%, 9/01/35 – SYNCORA GTY Insured
|
|||||
3,000
|
Riverside County Public Financing Authority, California, Tax Allocation Bonds, Multiple
|
10/15 at 100.00
|
BBB
|
2,815,170
|
|
Projects, Series 2005A, 5.000%, 10/01/35 – SYNCORA GTY Insured
|
|||||
4,475
|
Riverside County, California, Asset Leasing Corporate Leasehold Revenue Bonds, Riverside
|
6/13 at 100.50
|
A+
|
4,530,132
|
|
County Hospital Project, Series 1997B, 5.000%, 6/01/19 – NPFG Insured
|
|||||
1,000
|
Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community
|
9/13 at 100.00
|
AA–
|
1,008,270
|
|
Facilities District 1, Series 2004, 5.000%, 9/01/25 – NPFG Insured
|
|||||
5,000
|
Roseville Financing Authority, California, Special Tax Revenue Bonds, Series 2007A, 5.000%,
|
9/17 at 100.00
|
N/R
|
4,859,350
|
|
9/01/33 – AMBAC Insured
|
|||||
1,305
|
Roseville, California, Certificates of Participation, Public Facilities, Series 2003A, 5.000%,
|
8/13 at 100.00
|
AA–
|
1,328,568
|
|
8/01/25 – AMBAC Insured
|
|||||
4,295
|
San Bernardino Joint Powers Financing Authority, California, Certificates of Participation
|
9/12 at 100.00
|
BBB
|
4,299,896
|
|
Refunding, Police Station Financing Project, Series 1999, 5.500%, 9/01/20 – NPFG Insured
|
|||||
4,930
|
San Diego Redevelopment Agency, California, Subordinate Lien Tax Increment and Parking Revenue
|
9/12 at 100.00
|
A
|
4,933,599
|
|
Bonds, Centre City Project, Series 2003B, 5.250%, 9/01/26
|
|||||
5,150
|
San Jacinto Unified School District, Riverside County, California, Certificates of
|
9/20 at 100.00
|
AA
|
5,540,010
|
|
Participation, Series 2010, 5.375%, 9/01/40 – AGC Insured
|
|||||
2,770
|
San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Civic Center Project,
|
6/12 at 100.00
|
AA
|
2,778,449
|
|
Series 2002B, 5.000%, 6/01/32 – AMBAC Insured
|
|||||
4,000
|
San Jose Financing Authority, California, Lease Revenue Refunding Bonds, Convention Center
|
9/12 at 100.00
|
AA
|
4,013,800
|
|
Project, Series 2001F, 5.000%, 9/01/19 – NPFG Insured
|
|||||
815
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment
|
8/17 at 100.00
|
BBB
|
830,542
|
|
Project, Series 2006C, 5.000%, 8/01/25 – NPFG Insured
|
|||||
1,000
|
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment
|
8/17 at 100.00
|
BBB
|
873,820
|
|
Project, Series 2007B, 4.250%, 8/01/36 – SYNCORA GTY Insured
|
|||||
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Project Area,
|
|||||
Series 2005A:
|
|||||
3,310
|
5.000%, 8/01/20 – NPFG Insured
|
8/15 at 100.00
|
BBB
|
3,373,784
|
|
5,000
|
5.000%, 8/01/28 – NPFG Insured
|
8/15 at 100.00
|
BBB
|
5,022,900
|
|
3,000
|
Santa Clara Redevelopment Agency, California, Tax Allocation Bonds, Bayshore North Project,
|
6/12 at 100.00
|
A
|
3,064,440
|
|
Series 1999A, 5.500%, 6/01/23 – AMBAC Insured
|
|||||
3,500
|
Stockton Public Financing Authority, California, Lease Revenue Bonds, Series 2004, 5.250%,
|
9/14 at 100.00
|
BBB
|
3,114,720
|
|
9/01/34 – FGIC Insured
|
|||||
Sweetwater Union High School District Public Financing Authority, California, Special Tax
|
|||||
Revenue Bonds, Series 2005A:
|
|||||
3,565
|
5.000%, 9/01/25 – AGM Insured
|
9/15 at 100.00
|
AA–
|
3,738,009
|
|
5,510
|
5.000%, 9/01/28 – AGM Insured
|
9/15 at 100.00
|
AA–
|
5,726,268
|
|
2,160
|
Temecula Redevelopment Agency, California, Tax Allocation Revenue Bonds, Redevelopment
|
8/12 at 100.00
|
A–
|
2,161,188
|
|
Project 1, Series 2002, 5.125%, 8/01/27 – NPFG Insured
|
|||||
Tustin Community Redevelopment Agency, California, Tax Allocation Housing Bonds Series 2010:
|
|||||
1,205
|
5.000%, 9/01/30 – AGM Insured
|
9/20 at 100.00
|
AA–
|
1,313,197
|
|
3,250
|
5.250%, 9/01/39 – AGM Insured
|
9/20 at 100.00
|
AA–
|
3,557,970
|
|
1,020
|
Washington Unified School District, Yolo County, California, Certificates of Participation,
|
8/17 at 100.00
|
A
|
1,067,940
|
|
Series 2007, 5.125%, 8/01/37 – AMBAC Insured
|
|||||
2,670
|
Woodland Finance Authority, California, Lease Revenue Bonds, Series 2002, 5.000%, 3/01/32 –
|
3/13 at 102.00
|
A1
|
2,744,119
|
|
SYNCORA GTY Insured
|
|||||
2,805
|
Yucaipa-Calimesa Joint Unified School District, San Bernardino County, California, General
|
10/12 at 100.00
|
A2
|
2,808,927
|
|
Obligation Refunding Bonds, Series 2001A, 5.000%, 10/01/31 – NPFG Insured
|
|||||
322,235
|
Total Tax Obligation/Limited
|
324,085,908
|
|||
Transportation – 4.2% (2.9% of Total Investments)
|
|||||
5,480
|
Bay Area Governments Association, California, BART SFO Extension, Airport Premium Fare Revenue
|
8/12 at 100.00
|
N/R
|
5,482,028
|
|
Bonds, Series 2002A, 5.000%, 8/01/26 – AMBAC Insured
|
|||||
2,000
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Series
|
7/12 at 100.00
|
BBB–
|
1,907,020
|
|
1995A, 5.000%, 1/01/35
|
|||||
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding
|
|||||
Bonds, Series 1999:
|
|||||
6,500
|
0.000%, 1/15/18 – NPFG Insured
|
7/12 at 73.61
|
BBB
|
4,752,605
|
|
7,500
|
5.875%, 1/15/29
|
1/14 at 101.00
|
BBB–
|
7,649,175
|
|
4,000
|
Orange County Transportation Authority, California, Toll Road Revenue Bonds, 91 Express Lanes
|
8/13 at 100.00
|
A1
|
4,167,280
|
|
Project, Series 2003A, 5.000%, 8/15/18 – AMBAC Insured
|
|||||
2,400
|
San Diego Unified Port District, California, Revenue Bonds, Series 2004B, 5.000%, 9/01/29 –
|
9/14 at 100.00
|
A+
|
2,495,856
|
|
NPFG Insured
|
|||||
27,880
|
Total Transportation
|
26,453,964
|
|||
U.S. Guaranteed – 13.7% (9.6% of Total Investments) (5)
|
|||||
Bonita Unified School District, San Diego County, California, General Obligation Bonds,
|
|||||
Series 2004A:
|
|||||
1,890
|
5.250%, 8/01/23 (Pre-refunded 8/01/14) – NPFG Insured
|
8/14 at 100.00
|
AA (5)
|
2,092,532
|
|
1,250
|
5.250%, 8/01/25 (Pre-refunded 8/01/14) – NPFG Insured
|
8/14 at 100.00
|
AA (5)
|
1,383,950
|
|
2,815
|
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard
|
8/13 at 100.00
|
AA (5)
|
2,974,976
|
|
Children’s Hospital, Series 2003C, 5.000%, 8/15/20 (Pre-refunded 8/15/13) – AMBAC Insured
|
|||||
2,250
|
California Infrastructure and Economic Development Bank, First Lien Revenue Bonds, San
|
1/28 at 100.00
|
Aaa
|
3,050,618
|
|
Francisco Bay Area Toll Bridge, Series 2003A, 5.000%, 7/01/36 (Pre-refunded 1/01/28) –
|
|||||
AMBAC Insured
|
|||||
9,000
|
California State University, Systemwide Revenue Bonds, Series 2002A, 5.125%, 11/01/26
|
11/12 at 100.00
|
Aa2 (5)
|
9,185,940
|
|
(Pre-refunded 11/01/12) – AMBAC Insured
|
|||||
500
|
California State, General Obligation Bonds, Series 2004, 5.250%, 4/01/34 (Pre-refunded 4/01/14)
|
4/14 at 100.00
|
Aaa
|
545,845
|
|
1,495
|
Central Unified School District, Fresno County, California, General Obligation Bonds, Series
|
9/12 at 100.00
|
N/R (5)
|
1,514,854
|
|
1993, 5.625%, 3/01/18 – AMBAC Insured (ETM)
|
|||||
6,125
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/13 at 100.00
|
Aaa
|
6,586,825
|
|
Revenue Bonds, Series 2003A-2, 7.900%, 6/01/42 (Pre-refunded 6/01/13)
|
|||||
2,030
|
Hacienda La Puente Unified School District, Los Angeles County, California, General Obligation
|
8/13 at 100.00
|
AA– (5)
|
2,142,949
|
|
Bonds, Series 2003B, 5.000%, 8/01/27 (Pre-refunded 8/01/13) – AGM Insured
|
|||||
6,000
|
Huntington Park Redevelopment Agency, California, Single Family Residential Mortgage Revenue
|
No Opt. Call
|
Aaa
|
9,007,680
|
|
Refunding Bonds, Series 1986A, 8.000%, 12/01/19 (ETM)
|
|||||
2,000
|
Los Angeles, California, General Obligation Bonds, Series 2002A, 5.000%, 9/01/22 (Pre-refunded
|
9/12 at 100.00
|
AA– (5)
|
2,024,180
|
|
9/01/12) – NPFG Insured
|
|||||
1,770
|
Los Angeles Unified School District, California, Certificates of Participation, Administration
|
3/13 at 100.00
|
Aa3
|
1,834,817
|
|
Building Project II, Series 2002C, 5.000%, 10/01/27 (Pre-refunded 3/11/13) – AMBAC Insured
|
|||||
Los Rios Community College District, Sacramento, El Dorado and Yolo Counties, California,
|
|||||
General Obligation Bonds, Series 2006C:
|
|||||
2,110
|
5.000%, 8/01/21 (Pre-refunded 8/01/14) – AGM Insured (UB)
|
8/14 at 102.00
|
Aa2 (5)
|
2,366,660
|
|
3,250
|
5.000%, 8/01/22 (Pre-refunded 8/01/14) – AGM Insured (UB)
|
8/14 at 102.00
|
Aa2 (5)
|
3,645,330
|
|
3,395
|
5.000%, 8/01/23 (Pre-refunded 8/01/14) – AGM Insured (UB)
|
8/14 at 102.00
|
Aa2 (5)
|
3,807,968
|
|
1,000
|
5.000%, 8/01/25 (Pre-refunded 8/01/14) – AGM Insured (UB)
|
8/14 at 102.00
|
Aa2 (5)
|
1,121,640
|
|
21,185
|
Orange County Sanitation District, California, Certificates of Participation, Series 2003,
|
8/13 at 100.00
|
AAA
|
22,350,811
|
|
5.000%, 2/01/33 (Pre-refunded 8/01/13) – FGIC Insured (UB)
|
|||||
4,640
|
Rancho Mirage Joint Powers Financing Authority, California, Revenue Bonds, Eisenhower Medical
|
7/14 at 100.00
|
Baa2 (5)
|
5,176,291
|
|
Center, Series 2004, 5.875%, 7/01/26 (Pre-refunded 7/01/14)
|
|||||
2,390
|
Solano County, California, Certificates of Participation, Series 2002, 5.250%, 11/01/24
|
11/12 at 100.00
|
AA– (5)
|
2,440,620
|
|
(Pre-refunded 11/01/12) – NPFG Insured
|
|||||
West Basin Municipal Water District, California, Revenue Certificates of Participation,
|
|||||
Series 2003A:
|
|||||
1,345
|
5.000%, 8/01/20 (Pre-refunded 8/01/13) – NPFG Insured
|
8/13 at 100.00
|
Aa2 (5)
|
1,419,015
|
|
1,625
|
5.000%, 8/01/30 (Pre-refunded 8/01/13) – NPFG Insured
|
8/13 at 100.00
|
Aa2 (5)
|
1,714,424
|
|
78,065
|
Total U.S. Guaranteed
|
86,387,925
|
|||
Utilities – 4.6% (3.2% of Total Investments)
|
|||||
9,000
|
Anaheim Public Finance Authority, California, Revenue Bonds, Electric System Distribution
|
10/12 at 100.00
|
AA–
|
9,120,690
|
|
Facilities, Series 2002A, 5.000%, 10/01/27 – AGM Insured
|
|||||
1,000
|
Anaheim Public Finance Authority, California, Second Lien Electric Distribution Revenue Bonds,
|
10/14 at 100.00
|
AA–
|
1,063,040
|
|
Series 2004, 5.250%, 10/01/21 – NPFG Insured
|
|||||
Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds,
|
|||||
Series 2007A:
|
|||||
2,490
|
5.000%, 11/15/35
|
No Opt. Call
|
A
|
2,570,502
|
|
945
|
5.500%, 11/15/37
|
No Opt. Call
|
A
|
1,038,640
|
|
275
|
Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series
|
7/13 at 100.00
|
AA–
|
288,214
|
|
2003A-2, 5.000%, 7/01/21 – NPFG Insured
|
|||||
2,155
|
Merced Irrigation District, California, Electric System Revenue Bonds, Series 2005, 5.125%,
|
9/15 at 100.00
|
N/R
|
2,160,258
|
|
9/01/31 – SYNCORA GTY Insured
|
|||||
100
|
Sacramento City Financing Authority, California, Capital Improvement Revenue Bonds, Solid
|
6/12 at 100.00
|
N/R
|
100,130
|
|
Waste and Redevelopment Projects, Series 1999, 5.800%, 12/01/19 – AMBAC Insured
|
|||||
Santa Clara, California, Subordinate Electric Revenue Bonds, Series 2003A:
|
|||||
2,800
|
5.000%, 7/01/24 – NPFG Insured
|
7/13 at 100.00
|
A+
|
2,924,236
|
|
5,000
|
5.000%, 7/01/28 – NPFG Insured
|
7/13 at 100.00
|
A+
|
5,197,500
|
|
4,000
|
Southern California Public Power Authority, California, Milford Wind Corridor Phase I Revenue
|
1/20 at 100.00
|
AA–
|
4,581,240
|
|
Bonds, Series 2010-1, 5.000%, 7/01/28
|
|||||
27,765
|
Total Utilities
|
29,044,450
|
|||
Water and Sewer – 19.9% (13.9% of Total Investments)
|
|||||
3,300
|
Atwater Public Financing Authority, California, Wastewater Revenue Bonds, Tender Option Bond
|
5/19 at 100.00
|
AA–
|
4,333,824
|
|
Trust 3145, 17.955%, 5/01/40 – AGM Insured (IF)
|
|||||
2,185
|
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
|
12/12 at 100.00
|
AAA
|
2,235,430
|
|
Series 2002X, 5.150%, 12/01/23 – FGIC Insured
|
|||||
1,000
|
Castaic Lake Water Agency, California, Certificates of Participation, Series 2006C, 5.000%,
|
8/16 at 100.00
|
AA–
|
1,040,900
|
|
8/01/36 – NPFG Insured
|
|||||
5,255
|
El Dorado Irrigation District, California, Water and Sewer Certificates of Participation,
|
3/13 at 100.00
|
A1
|
5,386,848
|
|
Series 2003A, 5.000%, 3/01/20 – FGIC Insured
|
|||||
3,230
|
El Dorado Irrigation District, California, Water and Sewer Certificates of Participation,
|
3/14 at 100.00
|
A1
|
3,400,092
|
|
Series 2004A, 5.000%, 3/01/21 – FGIC Insured
|
|||||
2,250
|
Fortuna Public Finance Authority, California, Water Revenue Bonds, Series 2006, 5.000%,
|
10/16 at 100.00
|
AA–
|
2,361,870
|
|
10/01/36 – AGM Insured
|
|||||
1,480
|
Healdsburg Public Financing Authority, California, Wastewater Revenue Bonds, Series 2006,
|
4/16 at 100.00
|
AA–
|
1,545,682
|
|
5.000%, 4/01/36 – NPFG Insured
|
|||||
5,000
|
Indio Water Authority, California, Water Revenue Bonds, Series 2006, 5.000%, 4/01/31 –
|
4/16 at 100.00
|
A+
|
5,249,250
|
|
AMBAC Insured
|
|||||
12,230
|
Los Angeles County Sanitation Districts Financing Authority, California, Capital Projects
|
10/15 at 100.00
|
AA–
|
13,239,953
|
|
Revenue Bonds, District 14, Series 2005, 5.000%, 10/01/34 – FGIC Insured
|
|||||
Los Angeles County Sanitation Districts Financing Authority, California, Senior Revenue Bonds,
|
|||||
Capital Projects, Series 2003A:
|
|||||
2,700
|
5.000%, 10/01/21 – AGM Insured
|
10/13 at 100.00
|
AA+
|
2,854,710
|
|
4,500
|
5.000%, 10/01/23 – AGM Insured
|
10/13 at 100.00
|
AA+
|
4,761,585
|
|
16,000
|
Los Angeles Department of Water and Power, California, Waterworks Revenue Bonds, Series
|
7/22 at 100.00
|
AA
|
17,973,280
|
|
2012A, 5.000%, 7/01/43 (WI/DD, Settling 6/06/12)
|
|||||
2,135
|
Manteca Financing Authority, California, Sewerage Revenue Bonds, Series 2003B, 5.000%,
|
12/13 at 100.00
|
Aa3
|
2,179,301
|
|
12/01/33 – NPFG Insured
|
|||||
1,320
|
Marina Coast Water District, California, Enterprise Certificate of Participation, Series 2006,
|
6/16 at 100.00
|
AA–
|
1,385,010
|
|
5.000%, 6/01/31 – NPFG Insured
|
|||||
1,500
|
Placerville Public Financing Authority, California, Wastewater System Refinancing and
|
9/16 at 100.00
|
N/R
|
1,447,185
|
|
Improvement Project Revenue Bonds, Series 2006, 5.000%, 9/01/34 – SYNCORA GTY Insured
|
|||||
1,520
|
San Buenaventura, California, Water Revenue Certificates of Participation, Series 2004,
|
10/14 at 100.00
|
AA
|
1,584,007
|
|
5.000%, 10/01/25 – AMBAC Insured
|
|||||
9,000
|
San Diego County Water Authority, California, Water Revenue Certificates of Participation,
|
5/18 at 100.00
|
AA+
|
9,773,190
|
|
Series 2008A, 5.000%, 5/01/38 – AGM Insured
|
|||||
3,675
|
San Dieguito Water District, California, Water Revenue Bonds, Refunding Series 2004, 5.000%,
|
10/14 at 100.00
|
AA+
|
3,980,246
|
|
10/01/23 – FGIC Insured
|
|||||
25,000
|
San Francisco City and County Public Utilities Commission, California, Water Revenue Bonds,
|
5/22 at 100.00
|
AA–
|
27,775,250
|
|
Series 2012A, 5.000%, 11/01/43 (WI/DD, Settling 6/07/12)
|
|||||
Santa Clara Valley Water District, California, Certificates of Participation, Series 2004A:
|
|||||
1,400
|
5.000%, 2/01/19 – FGIC Insured
|
2/14 at 100.00
|
AAA
|
1,499,078
|
|
445
|
5.000%, 2/01/20 – FGIC Insured
|
2/14 at 100.00
|
AAA
|
475,647
|
|
465
|
5.000%, 2/01/21 – FGIC Insured
|
2/14 at 100.00
|
AAA
|
497,025
|
|
Semitropic Water Storage District, Kern County, California, Water Banking Revenue Bonds,
|
|||||
Series 2004A:
|
|||||
1,315
|
5.500%, 12/01/20 – SYNCORA GTY Insured
|
12/14 at 100.00
|
AA
|
1,461,083
|
|
1,415
|
5.500%, 12/01/21 – SYNCORA GTY Insured
|
12/14 at 100.00
|
AA
|
1,569,221
|
|
1,180
|
South Feather Water and Power Agency, California, Water Revenue Certificates of Participation,
|
4/13 at 100.00
|
A
|
1,194,066
|
|
Solar Photovoltaic Project, Series 2003, 5.375%, 4/01/24
|
|||||
875
|
West Basin Municipal Water District, California, Revenue Certificates of Participation, Series
|
8/13 at 100.00
|
Aa2
|
906,133
|
|
2003A, 5.000%, 8/01/30 – NPFG Insured
|
|||||
Yorba Linda Water District, California, Certificates of Participation, Highland Reservoir
|
|||||
Renovation, Series 2003:
|
|||||
2,010
|
5.000%, 10/01/28 – FGIC Insured
|
10/13 at 100.00
|
AA+
|
2,108,510
|
|
2,530
|
5.000%, 10/01/33 – FGIC Insured
|
10/13 at 100.00
|
AA+
|
2,653,995
|
|
114,915
|
Total Water and Sewer
|
124,872,371
|
|||
$ 1,046,323
|
Total Investments (cost $839,355,227) – 143.2%
|
900,307,957
|
|||
Floating Rate Obligations – (3.8)%
|
(24,125,000)
|
||||
Variable Rate Demand Preferred Shares, at Liquidation Value – (40.8)% (6)
|
(256,600,000)
|
||||
Other Assets Less Liabilities – 1.4%
|
8,961,283
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 628,544,240
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Long-Term Investments:
|
||||||||||||||||
Municipal Bonds
|
$ | — | $ | 900,307,957 | $ | — | $ | 900,307,957 |
Gross unrealized:
|
||||
Appreciation
|
$ | 66,014,865 | ||
Depreciation
|
(4,625,758 | ) | ||
Net unrealized appreciation (depreciation) of investments
|
$ | 61,389,107 |
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common
|
|
shares unless otherwise noted.
|
||
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
|
|
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
|
||
may be subject to periodic principal paydowns.
|
||
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service,
|
|
Inc. (“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s
|
||
or BBB by Fitch are considered to be below investment grade. Holdings designated N/R are not rated
|
||
by any of these national rating agencies.
|
||
(4)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
|
|
investments in inverse floating rate transactions.
|
||
(5)
|
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.
|
||
(6)
|
Variable Rate Demand Preferred Shares, at Liquidation Value as a percentage of Total Investments
|
|
is 28.5%.
|
||
N/R
|
Not rated.
|
|
WI/DD
|
Purchased on a when-issued or delayed delivery basis.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
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.
|