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 811-06379
 
Nuveen Municipal Opportunity Fund, Inc.
(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:            10/31          
 
Date of reporting period:         1/31/14         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 

 
 
Item 1. Schedule of Investments
 
 
           
   
Portfolio of Investments (Unaudited)
     
           
   
Nuveen Municipal Opportunity Fund, Inc. (NIO)
     
   
   January 31, 2014
     
 
 
Principal
   
Optional Call
   
Amount (000)
 
Description (1)
Provisions (2)
Ratings (3)
Value
   
LONG-TERM INVESTMENTS – 150.8% (100.0% of Total Investments)
     
   
MUNICIPAL BONDS – 150.8% (100.0% of Total Investments)
     
   
Alabama – 0.5% (0.3% of Total Investments)
     
$ 6,850
 
Birmingham Waterworks and Sewerage Board, Alabama, Water and Sewerage Revenue Bonds,
1/17 at 100.00
AA+
$ 6,858,083
   
Series 2007A, 4.500%, 1/01/43 – BHAC Insured
     
   
Arizona – 3.3% (2.2% of Total Investments)
     
4,230
 
Apache County Industrial Development Authority, Arizona, Pollution Control Revenue Bonds,
3/22 at 100.00
Baa1
4,168,919
   
Tucson Electric Power Company, Series 20102A, 4.500%, 3/01/30
     
4,545
 
Arizona Health Facilities Authority, Hospital Revenue Bonds, Banner Health Systems, Series
1/22 at 100.00
AA–
4,653,716
   
2012A, 5.000%, 1/01/43
     
   
Arizona State University, Certificates of Participation, Resh Infrastructure Projects, Series 2005A:
     
2,000
 
5.000%, 9/01/25 – AMBAC Insured
3/15 at 100.00
AA–
2,086,720
2,000
 
5.000%, 9/01/27 – AMBAC Insured
3/15 at 100.00
AA–
2,077,840
1,000
 
Arizona State University, System Revenue Bonds, Series 2005, 5.000%, 7/01/27 – AMBAC Insured
7/15 at 100.00
Aa3
1,050,540
3,000
 
Arizona State, Certificates of Participation, Department of Administration Series 2010B,
4/20 at 100.00
AA–
3,143,130
   
5.000%, 10/01/29 – AGC Insured
     
1,000
 
Maricopa County Union High School District 210, Phoenix, Arizona, General Obligation Bonds,
7/14 at 100.00
AA (4)
1,020,300
   
Series 2004A, 5.000%, 7/01/22 (Pre-refunded 7/01/14) – AGM Insured
     
5,200
 
Mesa, Arizona, Utility System Revenue Bonds, Tender Option Bond Trust, Series 11032- 11034,
7/17 at 100.00
AA
5,294,640
   
15.419%, 7/01/26 – AGM Insured (IF)
     
1,150
 
Phoenix Civic Improvement Corporation, Arizona, Junior Lien Wastewater System Revenue Bonds,
7/14 at 100.00
AA+
1,169,067
   
Series 2004, 5.000%, 7/01/27 – NPFG Insured
     
13,490
 
Phoenix Civic Improvement Corporation, Arizona, Junior Lien Water System Revenue Bonds, Series
7/15 at 100.00
AAA
14,270,666
   
2005, 4.750%, 7/01/25 – NPFG Insured
     
5,000
 
Phoenix Civic Improvement Corporation, Arizona, Subordinate Excise Tax Revenue Bonds, Civic
7/15 at 100.00
AA+
5,199,900
   
Plaza Expansion Project, Series 2005A, 5.000%, 7/01/41 – FGIC Insured
     
2,000
 
Yavapai County Industrial Development Authority, Arizona, Hospital Revenue Bonds, Yavapai
8/23 at 100.00
Baa1
2,034,420
   
Regional Medical Center, Series 2013A, 5.250%, 8/01/33
     
44,615
 
Total Arizona
   
46,169,858
   
Arkansas – 0.2% (0.1% of Total Investments)
     
2,660
 
Arkansas State University, Student Fee Revenue Bonds, Beebe Campus, Series 2006, 5.000%,
9/15 at 100.00
A1
2,773,449
   
9/01/35 – AMBAC Insured
     
   
California – 19.4% (12.8% of Total Investments)
     
5,600
 
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate
No Opt. Call
BBB+
4,542,216
   
Lien Series 2004A, 0.000%, 10/01/20 – AMBAC Insured
     
   
California Department of Water Resources, Water System Revenue Bonds, Central Valley Project,
     
   
Series 2005AC:
     
30
 
5.000%, 12/01/24 (Pre-refunded 12/01/14) – NPFG Insured
12/14 at 100.00
AAA
31,218
200
 
5.000%, 12/01/24 (Pre-refunded 12/01/14) – NPFG Insured
12/14 at 100.00
Aa1 (4)
208,120
3,470
 
5.000%, 12/01/24 (Pre-refunded 12/01/14) – NPFG Insured
12/14 at 100.00
AAA
3,610,882
25
 
5.000%, 12/01/27 (Pre-refunded 12/01/14) – NPFG Insured
12/14 at 100.00
AAA
26,015
140
 
5.000%, 12/01/27 (Pre-refunded 12/01/14) – NPFG Insured
12/14 at 100.00
Aa1 (4)
145,684
2,655
 
5.000%, 12/01/27 (Pre-refunded 12/01/14) – NPFG Insured
12/14 at 100.00
AAA
2,762,793
3,000
 
California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard
8/22 at 100.00
AA
3,070,050
   
Children’s Hospital, Series 2012A, 5.000%, 8/15/51
     
710
 
California Health Facilities Financing Authority, Revenue Bonds, Saint Joseph Health System,
7/23 at 100.00
AA–
737,811
   
Series 2013A, 5.000%, 7/01/37
     
   
California Health Facilities Financing Authority, Revenue Bonds, Stanford Hospitals and Clinics,
     
   
Tender Option Bond Trust 3294:
     
3,220
 
9.333%, 2/15/20 (IF) (5)
No Opt. Call
AA–
3,347,641
1,275
 
9.333%, 2/15/20 (IF) (5)
No Opt. Call
AA–
1,325,541
1,215
 
9.325%, 2/15/20 (IF) (5)
No Opt. Call
AA–
1,263,114
10,150
 
California State, General Obligation Bonds, Series 2004, 5.000%, 6/01/31 – AMBAC Insured
12/14 at 100.00
A1
10,442,828
3,500
 
Coachella Valley Unified School District, Riverside County, California, General Obligation
8/15 at 100.00
A1 (4)
3,750,950
   
Bonds, Series 2005A, 5.000%, 8/01/26 (Pre-refunded 8/01/15) – FGIC Insured
     
5,750
 
East Bay Municipal Utility District, Alameda and Contra Costa Counties, California, Water
6/15 at 100.00
AAA
6,043,365
   
System Subordinated Revenue Bonds, Series 2005A, 5.000%, 6/01/27 – NPFG Insured
     
   
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Refunding
     
   
Bonds, Series 2013A:
     
2,400
 
5.750%, 1/15/46
1/24 at 100.00
BBB–
2,412,024
5,400
 
6.000%, 1/15/49
1/24 at 100.00
BBB–
5,460,264
10,000
 
Golden State Tobacco Securitization Corporation, California, Enhanced Tobacco Settlement
6/15 at 100.00
A2
10,001,200
   
Asset-Backed Revenue Bonds, Series 2005A, 5.000%, 6/01/38 – FGIC Insured
     
   
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
     
   
Bonds, Series 2007A-1:
     
13,620
 
4.500%, 6/01/27
6/17 at 100.00
B
11,728,318
5,290
 
5.000%, 6/01/33
6/17 at 100.00
B
4,064,360
1,520
 
Hayward Redevelopment Agency, California, Downtown Redevelopment Project Tax Allocation Bonds,
3/16 at 100.00
A–
1,523,055
   
Series 2006, 5.000%, 3/01/36 – SYNCORA GTY Insured
     
5,600
 
Kern Community College District, California, General Obligation Bonds, Series 2006, 0.000%,
No Opt. Call
Aa2
3,691,856
   
11/01/24 – AGM Insured
     
2,740
 
Los Angeles Harbors Department, California, Revenue Bonds, Series 2006A, 5.000%, 8/01/22 –
8/16 at 102.00
AA
3,058,607
   
FGIC Insured (Alternative Minimum Tax)
     
3,000
 
Los Angeles Unified School District, California, General Obligation Bonds, Series 2006F,
7/16 at 100.00
Aa2
3,291,090
   
5.000%, 7/01/24 – FGIC Insured
     
5,720
 
Mount San Antonio Community College District, Los Angeles County, California, General
8/35 at 100.00
AA
2,860,172
   
Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43
     
5,200
 
Palomar Pomerado Health, California, General Obligation Bonds, Series 2009A, 0.000%, 8/01/38 –
8/29 at 100.00
AA–
4,339,608
   
AGC Insured
     
   
Poway Redevelopment Agency, California, Tax Allocation Bonds, Paguay Redevelopment Project,
     
   
Series 2001:
     
15,000
 
5.200%, 6/15/30 – AMBAC Insured
6/14 at 100.00
N/R
15,001,650
6,000
 
5.125%, 6/15/33 – AMBAC Insured
6/14 at 100.00
N/R
5,999,700
2,035
 
Redding, California, Electric System Revenue Certificates of Participation, Series 2005,
6/15 at 100.00
A
2,059,339
   
5.000%, 6/01/30 – FGIC Insured
     
6,000
 
Redlands Unified School District, San Bernardino County, California, General Obligation Bonds,
7/14 at 100.00
AA–
6,019,440
   
Series 2003, 5.000%, 7/01/26 – AGM Insured
     
2,970
 
Riverside Community College District, California, General Obligation Bonds, Series 2005,
8/15 at 100.00
AA
3,169,911
   
5.000%, 8/01/22 – AGM Insured
     
510
 
Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series
6/23 at 100.00
BBB–
523,020
   
2013A, 5.750%, 6/01/48
     
2,500
 
Sacramento County Sanitation District Financing Authority, California, Revenue Bonds, Series
12/15 at 100.00
AA
2,666,825
   
2005B, 4.750%, 12/01/21 – FGIC Insured
     
4,000
 
San Francisco Airports Commission, California, Revenue Bonds, San Francisco International
5/23 at 100.00
A+
4,126,760
   
Airport, Governmental Purpose, Second Series 2013B, 5.000%, 5/01/43
     
66,685
 
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Senior Lien Toll
No Opt. Call
Aaa
57,359,094
   
Road Revenue Bonds, Series 1993, 0.000%, 1/01/21 (ETM)
     
   
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue
     
   
Refunding Bonds, Series 1997A:
     
31,615
 
5.250%, 1/15/30 – NPFG Insured
7/14 at 100.00
A
30,765,189
21,500
 
0.000%, 1/15/32 – NPFG Insured
No Opt. Call
A
7,028,350
21,255
 
San Jose Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment
8/17 at 100.00
A
19,091,028
   
Project, Series 2006C, 4.250%, 8/01/30 – NPFG Insured
     
11,250
 
Santa Ana Financing Authority, California, Lease Revenue Bonds, Police Administration and
No Opt. Call
A
12,530,475
   
Housing Facility, Series 1994A, 6.250%, 7/01/24 – NPFG Insured
     
6,785
 
Santa Clara Valley Water District, California, Water Revenue Bonds, Series 2006A, 3.750%,
6/16 at 100.00
Aa1
6,923,821
   
6/01/25 – AGM Insured
     
5,000
 
Walnut Energy Center Authority, California, Electric Revenue Bonds, Turlock Irrigation
7/14 at 100.00
A+
5,015,750
   
District, Series 2004A, 5.000%, 1/01/34 – AMBAC Insured
     
304,535
 
Total California
   
272,019,134
   
Colorado – 4.9% (3.3% of Total Investments)
     
1,080
 
Arkansas River Power Authority, Colorado, Power Revenue Bonds, Series 2006, 5.250%, 10/01/40 –
10/16 at 100.00
BBB–
1,040,180
   
SYNCORA GTY Insured
     
1,900
 
Aspen, Colorado, Sales Tax Revenue Bonds, Parks and Open Space, Series 2005B, 5.250%, 11/01/24
11/15 at 100.00
Aa2 (4)
2,065,471
   
(Pre-refunded 11/01/15) – AGM Insured
     
1,000
 
Colorado Department of Transportation, Certificates of Participation, Series 2004, 5.000%,
6/14 at 100.00
AA- (4)
1,018,180
   
6/15/25 (Pre-refunded 6/15/14) – NPFG Insured
     
5,000
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,
1/23 at 100.00
A+
5,121,350
   
Series 2013A, 5.250%, 1/01/45
     
550
 
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good
6/23 at 100.00
A–
572,435
   
Samaritan Society Project, Series 2013, 5.625%, 6/01/43
     
7,415
 
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B,
11/23 at 100.00
A
7,666,813
   
5.000%, 11/15/43
     
1,740
 
Douglas County School District RE1, Douglas and Elbert Counties, Colorado, General Obligation
12/14 at 100.00
Aa1 (4)
1,813,480
   
Bonds, Series 2005B, 5.000%, 12/15/28 (Pre-refunded 12/15/14) – AGM Insured
     
35,995
 
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 1997B, 0.000%,
No Opt. Call
A
23,741,222
   
9/01/23 – NPFG Insured
     
10,000
 
E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A, 0.000%, 9/01/27 –
No Opt. Call
A
5,045,600
   
NPFG Insured
     
4,520
 
Jefferson County School District R1, Colorado, General Obligation Bonds, Series 2004, 5.000%,
12/14 at 100.00
Aa2 (4)
4,710,880
   
12/15/24 (Pre-refunded 12/15/14) – AGM Insured
     
4,335
 
Poudre Tech Metro District, Colorado, Unlimited Property Tax Supported Revenue Bonds,
12/20 at 100.00
AA–
4,275,914
   
Refunding & Improvement Series 2010A, 5.000%, 12/01/39 – AGM Insured
     
2,500
 
Summit County School District RE-1, Summit, Colorado, General Obligation Bonds, Series 2004B,
12/14 at 100.00
Aa2 (4)
2,601,300
   
5.000%, 12/01/24 (Pre-refunded 12/01/14) – FGIC Insured
     
8,500
 
University of Colorado Hospital Authority, Colorado, Revenue Bonds, Series 2012A, 5.000%, 11/15/42
11/22 at 100.00
A+
8,595,795
15
 
University of Colorado, Enterprise System Revenue Bonds, Series 2005, 5.000%, 6/01/30 –
6/15 at 100.00
Aa2
15,630
   
FGIC Insured
     
   
University of Colorado, Enterprise System Revenue Bonds, Series 2005:
     
645
 
5.000%, 6/01/30 (Pre-refunded 6/01/15) – FGIC Insured
6/15 at 100.00
Aa2 (4)
685,274
340
 
5.000%, 6/01/30 (Pre-refunded 6/01/15) – FGIC Insured
6/15 at 100.00
Aa2 (4)
361,230
85,535
 
Total Colorado
   
69,330,754
   
Connecticut – 0.2% (0.2% of Total Investments)
     
3,250
 
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Wesleyan University,
7/20 at 100.00
AA
3,446,365
   
Series 2010G, 5.000%, 7/01/39
     
   
District of Columbia – 0.4% (0.3% of Total Investments)
     
2,850
 
District of Columbia Student Dormitory Revenue Bonds, Provident Group – Howard Properties LLC
10/22 at 100.00
BBB–
2,473,059
   
Issue, Series 2013, 5.000%, 10/01/45
     
2,670
 
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds,
10/16 at 100.00
AA+
2,795,250
   
Tender Option Bond Trust 1606, 11.881%, 10/01/30 – AMBAC Insured (IF) (5)
     
5,520
 
Total District of Columbia
   
5,268,309
   
Florida – 17.7% (11.7% of Total Investments)
     
1,250
 
Bay County, Florida, Water System Revenue Bonds, Series 2005, 5.000%, 9/01/24 – AMBAC Insured
9/15 at 100.00
Aa3
1,329,325
1,275
 
Broward County, Florida, Airport System Revenue Bonds, Series 2004L, 5.000%, 10/01/23 –
10/14 at 100.00
A+
1,311,363
   
AMBAC Insured
     
875
 
Broward County, Florida, Airport System Revenue Bonds, Series 2004L, 5.000%, 10/01/23
10/14 at 100.00
A1 (4)
903,026
   
(Pre-refunded 10/01/14) – AMBAC Insured
     
6,000
 
Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2011, 5.000%, 10/01/41 –
10/21 at 100.00
AA–
6,218,940
   
AGM Insured
     
   
Clay County, Florida, Utility System Revenue Bonds, Series 2007:
     
5,110
 
5.000%, 11/01/27 – AGM Insured (UB)
11/17 at 100.00
AA
5,594,428
12,585
 
5.000%, 11/01/32 – AGM Insured (UB)
11/17 at 100.00
AA
13,288,627
1,500
 
Collier County, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.000%, 10/01/23
10/14 at 100.00
AA– (4)
1,546,905
   
(Pre-refunded 10/01/14) – NPFG Insured
     
3,000
 
Collier County, Florida, Gas Tax Revenue Bonds, Series 2005, 5.000%, 6/01/22 – AMBAC Insured
6/15 at 100.00
AA–
3,158,550
   
Dade County Housing Finance Authority, Florida, Multifamily Mortgage Revenue Bonds, Siesta
     
   
Pointe Apartments Project, Series 1997A:
     
1,005
 
5.650%, 9/01/17 – AGM Insured (Alternative Minimum Tax)
3/14 at 100.00
AA+
1,007,754
1,890
 
5.750%, 9/01/29 – AGM Insured (Alternative Minimum Tax)
3/14 at 100.00
AA+
1,891,814
2,500
 
Escambia County School Board, Florida, Certificates of Participation, Series 2004, 5.000%,
2/15 at 100.00
A
2,535,900
   
2/01/22 – NPFG Insured
     
2,500
 
Flagler County School Board, Florida, Certificates of Participation, Master Lease Revenue
8/15 at 100.00
AA–
2,604,875
   
Program, Series 2005A, 5.000%, 8/01/30 – AGM Insured
     
1,200
 
Flagler County, Florida, Capital Improvement Revenue Bonds, Series 2005, 5.000%, 10/01/30 –
10/15 at 100.00
A
1,220,352
   
NPFG Insured
     
90
 
Florida Municipal Loan Council, Revenue Bonds, Series 2001A, 5.250%, 11/01/18
5/14 at 100.00
Baa1
90,252
1,915
 
Halifax Hospital Medical Center, Florida, Revenue Bonds, Series 2006, 5.500%, 6/01/38 –
6/18 at 100.00
AA–
1,981,891
   
AGM Insured
     
2,500
 
Hillsborough County Industrial Development Authority, Florida, Industrial Development Revenue
No Opt. Call
Aaa
2,982,400
   
Bonds, University Community Hospital, Series 1994, 6.500%, 8/15/19 – NPFG Insured (ETM)
     
1,000
 
Hillsborough County School Board, Florida, Certificates of Participation, Master Lease
7/15 at 100.00
Aa2
1,051,550
   
Program, Series 2005A, 5.000%, 7/01/26 – NPFG Insured
     
1,000
 
Hillsborough County, Florida, Revenue Refunding Bonds, Tampa Bay Arena, Series 2005, 5.000%,
10/15 at 100.00
AA+
1,075,240
   
10/01/25 – FGIC Insured
     
2,595
 
Indian River County School Board, Florida, Certificates of Participation, Series 2005, 5.000%,
7/15 at 100.00
A+
2,746,704
   
7/01/22 – NPFG Insured
     
   
Indian Trace Development District, Florida, Water Management Special Benefit Assessment Bonds,
     
   
Series 2005:
     
1,645
 
5.000%, 5/01/25 – NPFG Insured
5/15 at 102.00
Baa1
1,713,070
1,830
 
5.000%, 5/01/27 – NPFG Insured
5/15 at 102.00
Baa1
1,899,430
1,500
 
JEA, Florida, Water and Sewerage System Revenue Bonds, Crossover Refunding Series 2007B,
10/14 at 100.00
AA
1,546,455
   
5.000%, 10/01/24 – NPFG Insured
     
4,665
 
Lee County, Florida, Airport Revenue Refunding Bonds, Series 2011A, 5.375%, 10/01/32 – AGM
8/21 at 100.00
AA–
4,914,298
   
Insured (Alternative Minimum Tax)
     
1,230
 
Lee County, Florida, Local Option Gas Tax Revenue Bonds, Series 2004, 5.000%, 10/01/20 –
10/14 at 100.00
A2
1,248,278
   
FGIC Insured
     
1,505
 
Lee County, Florida, Transportation Facilities Revenue Bonds, Series 2004B, 5.000%, 10/01/21 –
10/14 at 100.00
A–
1,542,204
   
AMBAC Insured
     
1,000
 
Lee Memorial Health System, Florida, Hospital Revenue Bonds, Series 2007A, 5.000%, 4/01/32 –
4/17 at 100.00
A
1,014,540
   
NPFG Insured
     
3,000
 
Leesburg, Florida, Utility Revenue Bonds, Series 2007, 5.000%, 10/01/37 – NPFG Insured
10/17 at 100.00
Aa3
3,116,970
   
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Refunding
     
   
Series 2012A:
     
3,200
 
5.000%, 10/01/30 (Alternative Minimum Tax)
No Opt. Call
A
3,305,472
1,545
 
5.000%, 10/01/31 (Alternative Minimum Tax)
No Opt. Call
A
1,585,881
2,200
 
Miami-Dade County, Florida, Aviation Revenue Bonds, Miami International Airport, Series 2002A,
4/14 at 100.00
AA–
2,200,594
   
5.125%, 10/01/35 – AGM Insured (Alternative Minimum Tax)
     
12,930
 
Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series
12/15 at 100.00
Aa3
13,103,909
   
2005A, 5.000%, 6/01/32 – NPFG Insured
     
5,320
 
Miami-Dade County, Florida, Public Facilities Revenue Bonds, Jackson Health System, Series
6/15 at 100.00
Aa3
5,538,492
   
2005B, 5.000%, 6/01/25 – NPFG Insured
     
3,000
 
Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2008, 5.000%,
7/18 at 100.00
AA
3,144,390
   
7/01/35 – AGM Insured
     
2,000
 
Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Refunding Series 2008B,
No Opt. Call
AA–
2,356,140
   
5.250%, 10/01/22 – AGM Insured
     
6,655
 
Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2013A,
10/22 at 100.00
Aa3
6,855,116
   
5.000%, 10/01/42
     
   
Northern Palm Beach County Improvement District, Florida, Revenue Bonds, Water Control and
     
   
Improvement Development Unit 9B, Series 2005:
     
1,290
 
5.000%, 8/01/23 – NPFG Insured
8/15 at 102.00
A
1,338,001
2,145
 
5.000%, 8/01/29 – NPFG Insured
8/15 at 102.00
A
2,192,962
2,000
 
Okaloosa County, Florida, Water and Sewer Revenue Bonds, Series 2006, 5.000%, 7/01/36 –
7/16 at 100.00
AA–
2,089,380
   
AGM Insured
     
3,500
 
Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Orlando Health, Inc.,
4/22 at 100.00
A
3,360,805
   
Series 2012A, 5.000%, 10/01/42
     
1,000
 
Orange County School Board, Florida, Certificates of Participation, Series 2007A, 5.000%,
8/17 at 100.00
Aa2
1,093,090
   
8/01/27 – FGIC Insured
     
2,500
 
Orange County, Florida, Tourist Development Tax Revenue Bonds, Series 2006, 5.000%, 10/01/31 –
10/16 at 100.00
AA–
2,654,175
   
SYNCORA GTY Insured
     
   
Osceola County, Florida, Transportation Revenue Bonds, Osceola Parkway, Series 2004:
     
2,500
 
5.000%, 4/01/21 – NPFG Insured
4/14 at 100.00
Aa3
2,519,325
7,820
 
5.000%, 4/01/23 – NPFG Insured
4/14 at 100.00
Aa3
7,873,176
1,750
 
Palm Bay, Florida, Utility System Revenue Bonds, Palm Bay Utility Corporation, Series 2003,
4/14 at 100.00
Aa3
1,756,808
   
5.000%, 10/01/20 – NPFG Insured
     
945
 
Palm Beach County Housing Finance Authority, Florida, Multifamily Housing Revenue Bonds, Westlake
7/14 at 100.00
AA–
946,030
   
Apartments Phase II, Series 2002, 5.150%, 7/01/22 – AGM Insured (Alternative Minimum Tax)
     
2,150
 
Palm Beach County School Board, Florida, Certificates of Participation, Series 2004A, 5.000%,
8/14 at 100.00
AA– (4)
2,202,224
   
8/01/24 (Pre-refunded 8/01/14) – FGIC Insured
     
3,000
 
Palm Beach County School Board, Florida, Certificates of Participation, Series 2007E, 5.000%,
8/17 at 100.00
AA–
3,269,760
   
8/01/27 – NPFG Insured
     
8,000
 
Palm Beach County Solid Waste Authority, Florida, Revenue Bonds, Series 2002B, 0.000%,
No Opt. Call
AA+ (4)
7,989,040
   
10/01/14 – AMBAC Insured (ETM)
     
3,000
 
Pasco County, Florida, Water and Sewer Revenue Bonds, Series 2006 Refunding, 5.000%,
4/16 at 100.00
AA
3,174,720
   
10/01/36 – AGM Insured
     
1,170
 
Polk County, Florida, Utility System Revenue Bonds, Series 2004A, 5.000%, 10/01/24
10/14 at 100.00
Aa3 (4)
1,207,838
   
(Pre-refunded 10/01/14) – FGIC Insured
     
1,000
 
Port Saint Lucie. Florida, Special Assessment Revenue Bonds, Southwest Annexation District 1B,
7/17 at 100.00
A
1,020,240
   
Series 2007, 5.000%, 7/01/33 – NPFG Insured
     
   
Port St. Lucie, Florida, Utility System Revenue Bonds, Refunding Series 2009:
     
5,450
 
5.250%, 9/01/35 – AGC Insured
9/18 at 100.00
AA–
5,993,801
8,500
 
5.000%, 9/01/35 – AGC Insured
9/18 at 100.00
AA–
9,043,490
1,000
 
Port St. Lucie, Florida, Utility System Revenue Bonds, Series 2004, 5.000%, 9/01/21
9/14 at 100.00
AA– (4)
1,028,180
   
(Pre-refunded 9/01/14) – NPFG Insured
     
1,895
 
Reedy Creek Improvement District, Orange and Osceola Counties, Florida, General Obligation
6/15 at 100.00
Aa3
1,990,735
   
Bonds, Series 2005B, 5.000%, 6/01/25 – AMBAC Insured
     
4,260
 
Saint Lucie County School Board, Florida, Certificates of Participation, Master Lease Program,
7/14 at 100.00
AA– (4)
4,346,308
   
Series 2004A, 5.000%, 7/01/24 (Pre-refunded 7/01/14) – AGM Insured
     
5,740
 
Seminole County, Florida, Water and Sewer Revenue Bonds, Refunding & Improvement Series 1992,
No Opt. Call
Aa2 (4)
6,755,636
   
6.000%, 10/01/19 – NPFG Insured (ETM)
     
2,185
 
Seminole County, Florida, Water and Sewer Revenue Bonds, Refunding & Improvement Series 1992,
No Opt. Call
Aa2
2,286,887
   
6.000%, 10/01/19 – NPFG Insured
     
   
St. Lucie County, Florida, Utility System Revenue Refunding Bonds, Series 1993:
     
2,635
 
5.500%, 10/01/15 – FGIC Insured (ETM)
No Opt. Call
N/R (4)
2,768,278
1,200
 
5.500%, 10/01/21 – FGIC Insured (ETM)
No Opt. Call
N/R (4)
1,448,544
   
St. Petersburg, Florida, Sales Tax Revenue Bonds, Professional Sports Facility, Series 2003:
     
1,475
 
5.125%, 10/01/20 – AGM Insured
4/14 at 100.00
A1
1,480,856
1,555
 
5.125%, 10/01/21 – AGM Insured
4/14 at 100.00
A1
1,561,096
2,500
 
Tallahassee, Florida, Energy System Revenue Bonds, Series 2005, 5.000%, 10/01/29 – NPFG Insured
10/15 at 100.00
AA
2,642,600
400
 
Tamarac, Florida, Utility System Revenue Bonds, Series 2009, 5.000%, 10/01/39 – AGC Insured
10/19 at 100.00
Aa2
419,976
1,485
 
Tampa, Florida, Healthcare System Revenue Bonds, Allegany Health System – St. Joseph’s
4/14 at 100.00
Aaa
1,502,642
   
Hospital, Series 1993, 5.125%, 12/01/23 – NPFG Insured (ETM)
     
10,335
 
Tampa, Florida, Revenue Bonds, University of Tampa, Series 2006, 5.000%, 4/01/35 – CIFG Insured
4/16 at 100.00
A3
10,383,781
21,095
 
Tampa-Hillsborough County Expressway Authority, Florida, Revenue Bonds, Refunding Series
No Opt. Call
A
21,714,560
   
2012B, 5.000%, 7/01/42
     
4,275
 
Volusia County School Board, Florida, Certificates of Participation, Series 2005B, 5.000%,
8/15 at 100.00
Aa3
4,516,409
   
8/01/24 – AGM Insured
     
2,000
 
Volusia County, Florida, Gas Tax Revenue Bonds, Series 2004, 5.000%, 10/01/21 (Pre-refunded
10/14 at 100.00
AA– (4)
2,064,680
   
10/01/14) – AGM Insured
     
12,000
 
Volusia County, Florida, School Board Certificates of Participation, Master Lease Program
8/17 at 100.00
Aa3
12,272,160
   
Series 2007, 5.000%, 8/01/32 – AGM Insured
     
1,785
 
Volusia County, Florida, Tax Revenue Bonds, Tourist Development, Series 2004, 5.000%,
12/14 at 100.00
A2
1,853,919
   
12/01/24 – AGM Insured
     
238,555
 
Total Florida
   
248,387,247
   
Georgia – 2.3% (1.5% of Total Investments)
     
1,000
 
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2004, 5.000%, 11/01/22
11/14 at 100.00
AA– (4)
1,036,560
   
(Pre-refunded 11/01/14) – AGM Insured
     
10,000
 
Atlanta, Georgia, Water and Wastewater Revenue Bonds, Series 2009B, 5.375%, 11/01/39 –
11/19 at 100.00
AA–
10,502,800
   
AGM Insured
     
1,155
 
Augusta, Georgia, Water and Sewerage Revenue Bonds, Series 2004, 5.250%, 10/01/39 –
10/14 at 100.00
AA–
1,185,631
   
AGM Insured
     
2,825
 
Cherokee County Water and Sewerage Authority, Georgia, Revenue Bonds, Refunding Series 2007,
8/20 at 100.00
AA
2,952,040
   
4.000%, 8/01/26
     
1,520
 
College Park Business and Industrial Development Authority, Georgia, Revenue Bonds, Public
9/14 at 102.00
AA– (4)
1,595,848
   
Safety Project, Series 2004, 5.250%, 9/01/23 (Pre-refunded 9/01/14) – NPFG Insured
     
   
Fulton County Development Authority, Georgia, Revenue Bonds, Georgia Tech Molecular Science
     
   
Building, Series 2004:
     
1,695
 
5.250%, 5/01/19 – NPFG Insured
5/14 at 100.00
Aa3
1,715,713
1,135
 
5.250%, 5/01/20 – NPFG Insured
5/14 at 100.00
Aa3
1,148,722
4,500
 
5.000%, 5/01/36 – NPFG Insured
5/14 at 100.00
Aa3
4,541,670
5,295
 
Greene County Development Authority, Georgia, Health System Revenue Bonds, Catholic Health
No Opt. Call
Aa2
4,793,087
   
East Issue, Series 2012, 4.250%, 11/15/42
     
2,250
 
Gwinnett County Hospital Authority, Georgia, Revenue Anticipation Certificates, Gwinnett
7/19 at 100.00
A+
2,342,745
   
Hospital System Inc. Project, Series 2007C, 5.500%, 7/01/39 – AGM Insured
     
31,375
 
Total Georgia
   
31,814,816
   
Hawaii – 0.0% (0.0% of Total Investments)
     
   
Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific
     
   
University, Series 2013A:
     
250
 
6.625%, 7/01/33
7/23 at 100.00
BB+
253,783
170
 
6.875%, 7/01/43
7/23 at 100.00
BB+
172,365
420
 
Total Hawaii
   
426,148
   
Idaho – 0.8% (0.5% of Total Investments)
     
8,730
 
Idaho Health Facilities Authority, Revenue Bonds, Saint Luke’s Health System Project, Series
3/22 at 100.00
A
8,857,196
   
2012A, 5.000%, 3/01/47 – AGM Insured
     
   
Idaho Housing and Finance Association, Grant and Revenue Anticipation Bonds, Federal Highway
     
   
Trust Funds, Series 2006:
     
1,000
 
5.000%, 7/15/23 – NPFG Insured
7/16 at 100.00
Aa3
1,089,650
1,065
 
5.000%, 7/15/24 – NPFG Insured
7/16 at 100.00
Aa3
1,160,477
10,795
 
Total Idaho
   
11,107,323
   
Illinois – 10.2% (6.8% of Total Investments)
     
1,050
 
Bedford Park, Illinois, General Obligation Bonds, Series 2004A, 5.250%, 12/15/20 – AGM Insured
12/14 at 100.00
AA–
1,091,790
7,700
 
Chicago, Illinois, General Airport Revenue Bonds, O’Hare International Airport, Third Lien
1/20 at 100.00
AA–
7,914,214
   
Refunding Series 2010C, 5.250%, 1/01/35 – AGC Insured
     
7,200
 
Chicago, Illinois, Third Lien General Airport Revenue Bonds, O’Hare International Airport,
1/16 at 100.00
A
7,638,408
   
Series 2005A, 5.250%, 1/01/24 – NPFG Insured
     
10,000
 
Chicago, Illinois, Water Revenue Bonds, Refunding Second Lien Series 2012-2, 5.000%, 11/01/42
11/22 at 100.00
AA
10,073,300
7,095
 
Cook County Community College District 508, Illinois, General Obligation Bonds, Chicago City
12/23 at 100.00
AA
7,339,636
   
Colleges, Series 2013, 5.250%, 12/01/43
     
6,160
 
De Witt, Ford, Livingston, Logan, Mc Lean and Tazewell Community College District 540,
12/17 at 100.00
Aa2
5,479,320
   
Illinois, General Obligation Bonds, Series 2007, 3.000%, 12/01/26 – AGM Insured
     
3,400
 
Illinois Educational Facilities Authority, Revenue Bonds, Field Museum of Natural History,
11/23 at 100.00
A2
3,509,752
   
Series 2002, 5.500%, 11/01/36
     
3,295
 
Illinois Educational Facilities Authority, Revenue Bonds, Robert Morris College, Series 2000,
6/14 at 100.00
Baa1
3,297,537
   
5.800%, 6/01/30 – NPFG Insured
     
5,750
 
Illinois Finance Authority, Revenue Bonds, Centegra Health System, Series 2012, 5.000%, 9/01/38
9/22 at 100.00
A–
5,567,955
2,315
 
Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2012,
No Opt. Call
AA
2,363,083
   
5.000%, 6/01/42
     
1,265
 
Illinois Finance Authority, Revenue Bonds, Rehabilitation Institute of Chicago, Series 2013A,
7/23 at 100.00
A–
1,345,340
   
6.000%, 7/01/43
     
6,720
 
Illinois Finance Authority, Revenue Bonds, The Carle Foundation, Series 2011A, 6.000%,
8/21 at 100.00
AA–
7,317,946
   
8/15/41 – AGM Insured
     
14,965
 
Illinois Finance Authority, Revenue Bonds, The University of Chicago, Series 2012A, 5.000%, 10/01/51
10/21 at 100.00
Aa1
15,271,932
   
Illinois State, General Obligation Bonds, Refunding Series 2012:
     
3,160
 
5.000%, 8/01/21
No Opt. Call
A–
3,574,497
1,225
 
5.000%, 8/01/22
No Opt. Call
A–
1,366,818
2,740
 
5.000%, 8/01/23
No Opt. Call
A–
3,038,002
1,055
 
5.000%, 8/01/24
8/22 at 100.00
A–
1,150,762
270
 
5.000%, 8/01/25
8/22 at 100.00
A–
292,178
1,425
 
Illinois State, General Obligation Bonds, Series 2013, 5.500%, 7/01/38
7/23 at 100.00
A–
1,487,173
5,405
 
Illinois Toll Highway Authority, State Toll Highway Authority Revenue Bonds, Series 2006A-1,
7/16 at 100.00
AA–
5,858,155
   
5.000%, 1/01/24 – AGM Insured
     
1,395
 
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust 4304,
No Opt. Call
AA–
1,566,920
   
18.345%, 1/01/21 (IF) (5)
     
   
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
     
   
Project, Capital Appreciation Refunding Series 2010B-1:
     
20,000
 
0.000%, 6/15/45 – AGM Insured
No Opt. Call
AAA
3,388,200
10,000
 
0.000%, 6/15/46 – AGM Insured
No Opt. Call
AAA
1,566,100
20,045
 
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
No Opt. Call
AAA
6,131,164
   
Project, Series 2002A, 0.000%, 12/15/35 – AGM Insured
     
   
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
     
   
Project, Tender Option Bond Trust 3861:
     
5,000
 
15.339%, 6/15/18 (IF) (5)
No Opt. Call
AAA
5,268,950
5,920
 
13.834%, 6/15/42 (IF) (5)
6/20 at 100.00
AAA
5,641,050
   
Schaumburg, Illinois, General Obligation Bonds, Series 2004B:
     
4,260
 
5.000%, 12/01/22 (Pre-refunded 12/01/14) – FGIC Insured
12/14 at 100.00
AAA
4,431,550
2,365
 
5.000%, 12/01/23 (Pre-refunded 12/01/14) – FGIC Insured
12/14 at 100.00
AAA
2,460,239
5,250
 
Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Memorial Group,
11/23 at 100.00
BB+
5,226,848
   
Inc., Series 2013, 7.625%, 11/01/48
     
4,000
 
Southwestern Illinois Development Authority, School Revenue Bonds, Triad School District 2,
No Opt. Call
A+
2,289,560
   
Madison County, Illinois, Series 2006, 0.000%, 10/01/25 – NPFG Insured
     
   
Williamson & Johnson Counties Community Unit School District 2, Marion, Illinois, General
     
   
Obligation Bonds, Series 2011:
     
930
 
7.000%, 12/01/21 – AGM Insured
12/20 at 100.00
AA–
1,132,703
1,035
 
7.000%, 12/01/22 – AGM Insured
12/20 at 100.00
AA–
1,244,908
1,155
 
7.000%, 12/01/23 – AGM Insured
12/20 at 100.00
AA–
1,378,192
1,065
 
7.000%, 12/01/26 – AGM Insured
12/20 at 100.00
AA–
1,234,346
2,085
 
7.250%, 12/01/29 – AGM Insured
12/20 at 100.00
AA–
2,415,264
2,295
 
7.250%, 12/01/30 – AGM Insured
12/20 at 100.00
AA–
2,644,322
178,995
 
Total Illinois
   
142,998,114
   
Indiana – 6.2% (4.1% of Total Investments)
     
13,115
 
Indiana Finance Authority, Hospital Revenue Bonds, Community Health Network Project, Series
5/23 at 100.00
A
13,035,392
   
2012A, 5.000%, 5/01/42
     
3,450
 
Indiana Finance Authority, Midwestern Disaster Relief Revenue Bonds, Ohio Valley Electric
6/22 at 100.00
BBB–
3,269,565
   
Corporation Project, Series 2012A, 5.000%, 6/01/39 – AGM Insured
     
14,760
 
Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing
7/23 at 100.00
BBB
14,314,838
   
Project, Series 2013A, 5.250%, 1/01/51 (Alternative Minimum Tax)
     
5,000
 
Indiana Finance Authority, Revenue Bonds, Trinity Health Care Group, Refunding Series 2010B.,
12/20 at 100.00
Aa2
5,082,100
   
5.000%, 12/01/37
     
11,200
 
Indiana Health Facility Financing Authority, Revenue Bonds, Community Hospitals of Indiana,
5/15 at 100.00
N/R (4)
11,867,632
   
Series 2005A, 5.000%, 5/01/35 (Pre-refunded 5/01/15) – AMBAC Insured
     
8,500
 
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42 –
1/17 at 100.00
A+
8,712,500
   
NPFG Insured
     
5,000
 
Indianapolis Local Public Improvement Bond Bank Bonds, Indiana, PILOT Infrastructure Project
1/20 at 100.00
Aa2
5,376,800
   
Revenue Bonds, Series 2010F, 5.000%, 1/01/35 – AGM Insured
     
20,000
 
Indianapolis Local Public Improvement Bond Bank, Indiana, Series 1999E, 0.000%, 2/01/28 –
No Opt. Call
AA
11,456,000
   
AMBAC Insured
     
9,615
 
Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A,
1/19 at 100.00
AA–
10,232,764
   
5.500%, 1/01/38 – AGC Insured
     
935
 
Shoals, Indiana, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Series
11/23 at 100.00
N/R
947,884
   
2013, 7.250%, 11/01/43 (Alternative Minimum Tax)
     
2,040
 
Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2013,
1/24 at 100.00
N/R
2,139,389
   
7.000%, 1/01/44 (Alternative Minimum Tax)
     
1,500
 
Vigo County Hospital Authority, Indiana, Revenue Bonds, Union Hospital, Series 2007,
9/17 at 100.00
N/R
1,393,290
   
5.800%,9/01/47
     
95,115
 
Total Indiana
   
87,828,154
   
Iowa – 1.3% (0.8% of Total Investments)
     
10,000
 
Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series
2/23 at 100.00
Aa3
10,419,700
   
2013A, 5.250%, 2/15/44
     
   
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
     
1,910
 
5.375%, 6/01/38
6/15 at 100.00
B+
1,487,852
1,010
 
5.500%, 6/01/42
6/15 at 100.00
B+
782,195
430
 
5.625%, 6/01/46
6/15 at 100.00
B+
334,510
5,600
 
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,
6/17 at 100.00
B+
4,763,920
   
5.600%, 6/01/34
     
18,950
 
Total Iowa
   
17,788,177
   
Kansas – 0.7% (0.4% of Total Investments)
     
2,055
 
Kansas Turnpike Authority, Revenue Bonds, Series 2004A-2, 5.000%, 9/01/23 (Pre-refunded
9/14 at 101.00
AA– (4)
2,133,891
   
9/01/14) – AGM Insured
     
   
Neosho County Unified School District 413, Kansas, General Obligation Bonds, Series 2006:
     
2,145
 
5.000%, 9/01/27 (Pre-refunded 9/01/14) – AGM Insured
9/14 at 100.00
A2 (4)
2,205,918
4,835
 
5.000%, 9/01/29 (Pre-refunded 9/01/14) – AGM Insured
9/14 at 100.00
A2 (4)
4,972,314
9,035
 
Total Kansas
   
9,312,123
   
Kentucky – 2.9% (1.9% of Total Investments)
     
3,870
 
Kenton County School District Finance Corporation, Kentucky, School Building Revenue Bonds,
6/14 at 100.00
Aa3 (4)
3,933,042
   
Series 2004, 5.000%, 6/01/20 (Pre-refunded 6/01/14) – NPFG Insured
     
5,170
 
Kentucky Economic Development Finance Authority, Hospital Facilities Revenue Bonds, Owensboro
6/20 at 100.00
BBB+
5,502,069
   
Medical Health System, Series 2010A, 6.000%, 6/01/30
     
   
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
     
   
Downtown Crossing Project, Convertible Capital Appreciation Series 2013C:
     
3,330
 
0.000%, 7/01/43
7/31 at 100.00
Baa3
1,879,052
5,735
 
0.000%, 7/01/46
7/31 at 100.00
Baa3
3,204,145
   
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
     
   
Downtown Crossing Project, Series 2013A:
     
1,445
 
5.750%, 7/01/49
7/23 at 100.00
Baa3
1,492,107
290
 
6.000%, 7/01/53
7/23 at 100.00
Baa3
302,128
   
Kentucky State Property and Buildings Commission, Revenue Bonds, Project 93, Refunding Series 2009:
     
3,860
 
5.250%, 2/01/20 – AGC Insured
2/19 at 100.00
AA–
4,492,114
10,000
 
5.250%, 2/01/24 – AGC Insured
2/19 at 100.00
AA–
11,362,000
7,500
 
Kentucky Turnpike Authority, Economic Development Road Revenue Bonds, Revitalization Project,
7/16 at 100.00
AA+
8,162,775
   
Series 2006B, 5.000%, 7/01/25 – AMBAC Insured
     
41,200
 
Total Kentucky
   
40,329,432
   
Louisiana – 4.5% (3.0% of Total Investments)
     
3,330
 
Jefferson Parish Hospital District1, Louisiana, Hospital Revenue Bonds, West Jefferson Medical
1/21 at 100.00
AA–
3,574,822
   
Center, Refunding Series 2011A, 6.000%, 1/01/39 – AGM Insured
     
3,025
 
Lafayette City and Parish, Louisiana, Utilities Revenue Bonds, Series 2004, 5.250%, 11/01/22
11/14 at 100.00
A+ (4)
3,141,009
   
(Pre-refunded 11/01/14) – NPFG Insured
     
4,170
 
Louisiana Public Facilities Authority, Revenue Bonds, Baton Rouge General Hospital, Series
7/14 at 100.00
A (4)
4,254,526
   
2004, 5.250%, 7/01/24 (Pre-refunded 7/01/14) – NPFG Insured
     
   
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2005A:
     
2,400
 
5.000%, 5/01/25 (Pre-refunded 5/01/15) – FGIC Insured
5/15 at 100.00
Aa1 (4)
2,544,312
4,415
 
5.000%, 5/01/26 (Pre-refunded 5/01/15) – FGIC Insured
5/15 at 100.00
Aa1 (4)
4,680,474
5,000
 
5.000%, 5/01/27 (Pre-refunded 5/01/15) – FGIC Insured
5/15 at 100.00
Aa1 (4)
5,300,650
   
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006A:
     
3,300
 
4.750%, 5/01/39 – AGM Insured (UB)
5/16 at 100.00
Aa1
3,360,192
35,725
 
4.500%, 5/01/41 – FGIC Insured (UB)
5/16 at 100.00
Aa1
35,756,795
38
 
Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Series 2006, Residuals 660-1, 16.435%,
5/16 at 100.00
Aa1
38,469
   
5/01/34 – NPFG Insured (IF)
     
61,403
 
Total Louisiana
   
62,651,249
   
Maine – 0.1% (0.0% of Total Investments)
     
1,015
 
Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical
7/23 at 100.00
Baa1
981,576
   
Center Obligated Group Issue, Series 2013, 5.000%, 7/01/43
     
   
Maryland – 0.4% (0.2% of Total Investments)
     
5,345
 
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A, 5.250%,
9/16 at 100.00
BB+
5,157,391
   
9/01/28 – SYNCORA GTY Insured
     
   
Massachusetts – 2.5% (1.7% of Total Investments)
     
4,500
 
Massachusetts Department of Transportation, Metropolitan Highway System Revenue Bonds,
1/20 at 100.00
AA+
4,762,800
   
Commonwealth Contract Assistance Secured, Refunding Series 2010B, 5.000%, 1/01/35
     
3,225
 
Massachusetts Development Finance Agency, Resource Recovery Revenue Refunding Bonds,
11/17 at 100.00
BB+
2,858,995
   
Covanta Energy Project, Series 2012B, 4.875%, 11/01/42
     
5,330
 
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Harvard University,
12/19 at 100.00
AAA
6,977,503
   
Tender Option Bond Trust 2010-20W, 13.656%, 12/15/34 (IF) (5)
     
11,000
 
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A,
8/15 at 100.00
AA+ (4)
11,807,840
   
5.000%, 8/15/23 (Pre-refunded 8/15/15) – AGM Insured (UB)
     
7,255
 
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2007A, 4.500%,
2/17 at 100.00
AA+
7,345,325
   
8/01/46 – AGM Insured (UB) (5)
     
1,500
 
University of Massachusetts Building Authority, Senior Lien Project Revenue Bonds, Series
11/14 at 100.00
AA (4)
1,559,055
   
2004-1, 5.375%, 11/01/20 (Pre-refunded 11/01/14) – AMBAC Insured
     
32,810
 
Total Massachusetts
   
35,311,518
   
Michigan – 3.4% (2.3% of Total Investments)
     
5,490
 
Detroit City School District, Wayne County, Michigan, Unlimited Tax School Building and Site
No Opt. Call
AA
5,863,046
   
Improvement Bonds, Series 2001A, 6.000%, 5/01/29 – AGM Insured (UB)
     
1,695
 
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,
7/22 at 100.00
BBB+
1,569,434
   
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
     
6,000
 
Detroit, Michigan, General Obligation Bonds, Series 2001A-1, 5.375%, 4/01/18 – NPFG Insured (6)
4/14 at 100.00
A
5,695,080
2,000
 
Detroit, Michigan, Sewage Disposal System Revenue Bonds, Series 2001D-2, 0.320%, 7/01/32 (7)
7/14 at 100.00
A
1,458,631
3,000
 
Michigan Public Power Agency, AFEC Project Revenue Bonds, Series 2012A, 5.000%, 1/01/43
1/22 at 100.00
A2
3,041,970
8,260
 
Michigan State Building Authority, Revenue Refunding Bonds, Facilities Program, Series
10/21 at 100.00
Aa3
8,850,590
   
2011-II-A, 5.375%, 10/15/41
     
11,000
 
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series
6/22 at 100.00
Aa2
11,175,340
   
2009C, 5.000%, 12/01/48
     
10,000
 
Wayne Charter County, Michigan, Limited Tax General Obligation Airport Hotel Revenue Bonds,
6/14 at 100.00
A
10,000,800
   
Detroit Metropolitan Wayne County Airport, Series 2001A, 5.250%, 12/01/25 – NPFG Insured
     
47,445
 
Total Michigan
   
47,654,891
   
Minnesota – 0.9% (0.6% of Total Investments)
     
5,450
 
Minneapolis, Minnesota, Health Care System Revenue Bonds, Fairview Health Services, Series
11/18 at 100.00
AA–
6,287,175
   
2008B, 6.500%, 11/15/38 – AGC Insured
     
5,020
 
Minnesota State, General Obligation Bonds, Various Purpose, Refunding Series 2010D,
No Opt. Call
AA+
5,904,574
   
5.000%, 8/01/18
     
10,470
 
Total Minnesota
   
12,191,749
   
Missouri – 0.5% (0.3% of Total Investments)
     
2,250
 
Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds,
2/22 at 100.00
A1
2,288,678
   
Heartland Regional Medical Center, Series 2012, 5.000%, 2/15/43
     
305
 
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Friendship Village
9/23 at 100.00
A–
313,644
   
of Sunset Hills, Series 2013A, 5.875%, 9/01/43
     
4,125
 
St. Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Series
No Opt. Call
A
4,611,668
   
2005, 5.500%, 7/01/29 – NPFG Insured
     
6,680
 
Total Missouri
   
7,213,990
   
Montana – 0.2% (0.2% of Total Investments)
     
3,000
 
Montana Facility Finance Authority, Hospital Revenue Bonds, Benefits Health System Obligated
1/21 at 100.00
AA–
3,279,330
   
Group, Series 2011A, 5.750%, 1/01/31 – AGM Insured
     
   
Nebraska – 2.8% (1.8% of Total Investments)
     
4,680
 
Lincoln County Hospital Authority 1, Nebraska, Hospital Revenue and Refunding Bonds, Great
No Opt. Call
A–
4,739,623
   
Plains Regional Medical Center Project, Series 2012, 5.000%, 11/01/42
     
27,125
 
Lincoln, Nebraska, Electric System Revenue Bonds, Series 2007A, 4.500%, 9/01/37 – FGIC
9/17 at 100.00
AA
27,640,918
   
Insured (UB) (5)
     
5,000
 
Municipal Energy Agency of Nebraska, Power Supply System Revenue and Refunding Bonds, Series
4/19 at 100.00
AA+
5,413,550
   
2009A, 5.375%, 4/01/39 – BHAC Insured
     
1,000
 
Nebraska Public Power District, General Revenue Bonds, Series 2005A, 5.000%, 1/01/25
7/15 at 100.00
AA– (4)
1,067,500
   
(Pre-refunded 7/01/15) – AGM Insured
     
37,805
 
Total Nebraska
   
38,861,591
   
Nevada – 3.6% (2.4% of Total Investments)
     
7,000
 
Clark County School District, Nevada, General Obligation Bonds, Refunding Series 2005A,
6/15 at 101.00
AA–
7,465,640
   
5.000%, 6/15/19 – FGIC Insured
     
3,500
 
Clark County School District, Nevada, General Obligation Bonds, Series 2004B, 5.000%,
6/14 at 100.00
AA–
3,561,705
   
6/15/18 – AGM Insured
     
3,000
 
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2009C, 5.000%, 7/01/26 –
7/19 at 100.00
AA–
3,293,580
   
AGM Insured
     
16,840
 
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran
1/20 at 100.00
AA–
17,609,083
   
International Airport, Series 2010A, 5.250%, 7/01/39 – AGM Insured
     
7,370
 
Clark County, Nevada, Subordinate Lien Airport Revenue Bonds, Series 2004A-2, 5.125%,
7/14 at 100.00
A+
7,496,027
   
7/01/25 – FGIC Insured
     
10,285
 
Henderson, Nevada, General Obligation Bonds, Sewer Series 2004, 5.000%, 6/01/34 (Pre-refunded
12/14 at 100.00
AA (4)
10,697,634
   
12/01/14) – FGIC Insured
     
47,995
 
Total Nevada
   
50,123,669
   
New Jersey – 4.3% (2.9% of Total Investments)
     
   
Essex County Improvement Authority, New Jersey, Guaranteed Revenue Bonds, Project
     
   
Consolidation, Series 2004:
     
2,000
 
5.125%, 10/01/21 – NPFG Insured
10/14 at 100.00
Aa2
2,064,140
2,250
 
5.125%, 10/01/22 – NPFG Insured
10/14 at 100.00
Aa2
2,321,843
   
New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Series 2004A:
     
3,850
 
5.000%, 7/01/22 – NPFG Insured
7/14 at 100.00
A
3,918,723
3,850
 
5.000%, 7/01/23 – NPFG Insured
7/14 at 100.00
A
3,915,489
5,900
 
5.000%, 7/01/29 – NPFG Insured
7/14 at 100.00
A
5,986,081
26,000
 
New Jersey Turnpike Authority, Revenue Bonds, Refunding Series 2005D-1, 5.250%, 1/01/26 –
No Opt. Call
AA–
30,360,200
   
AGM Insured
     
3,320
 
New Jersey Turnpike Authority, Revenue Bonds, Series 2005A, 5.000%, 1/01/21 – AGM Insured
1/15 at 100.00
AA–
3,442,574
   
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
     
   
Series 2007-1A:
     
4,750
 
4.500%, 6/01/23
6/17 at 100.00
B1
4,472,743
1,545
 
4.625%, 6/01/26
6/17 at 100.00
B1
1,340,844
1,470
 
4.750%, 6/01/34
6/17 at 100.00
B2
1,086,742
1,330
 
Washington Township Board of Education, Mercer County, New Jersey, General Obligation Bonds,
No Opt. Call
Aa3
1,625,699
   
Series 2005, 5.250%, 1/01/26 – AGM Insured
     
56,265
 
Total New Jersey
   
60,535,078
   
New Mexico – 1.3% (0.9% of Total Investments)
     
3,660
 
San Juan County, New Mexico, Gross Receipts Tax Revenue Bonds, Refunding Subordinate Series
6/15 at 100.00
A+
3,858,775
   
2005, 5.000%, 6/15/25 – NPFG Insured
     
13,600
 
University of New Mexico, System Improvement Subordinated Lien Revenue Bonds, Series 2007A,
6/17 at 100.00
AA
14,286,664
   
5.000%, 6/01/36 – AGM Insured
     
17,260
 
Total New Mexico
   
18,145,439
   
New York – 6.6% (4.4% of Total Investments)
     
1,880
 
Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore
2/15 at 100.00
A
1,949,560
   
Hospital, Series 2004, 5.000%, 8/01/23 – FGIC Insured
     
7,225
 
Dormitory Authority of the State of New York, Revenue Bonds, Non State Supported Debt, Cornell
7/20 at 100.00
Aa1
7,907,112
   
University, Series 2010A, 5.000%, 7/01/35
     
3,335
 
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series
3/15 at 100.00
AAA
3,487,643
   
2005F, 5.000%, 3/15/24 – AMBAC Insured
     
3,720
 
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 4.500%,
2/17 at 100.00
A
3,690,649
   
2/15/47 – NPFG Insured
     
12,500
 
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A,
6/16 at 100.00
A
13,463,500
   
5.000%, 12/01/25 – FGIC Insured
     
2,500
 
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%,
5/21 at 100.00
AA–
2,600,750
   
5/01/36 – AGM Insured
     
3,025
 
Monroe County Industrial Development Corporation, New York, FHA Insured Mortgage Revenue
2/21 at 100.00
Aa2
3,336,031
   
Bonds, Unity Hospital of Rochester Project, Series 2010, 5.500%, 8/15/40
     
2,615
 
New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Project
3/19 at 100.00
AA–
3,028,353
   
PILOT, Series 2009A, 7.000%, 3/01/49 – AGC Insured
     
85
 
New York City, New York, General Obligation Bonds, Fiscal Series 2005F-1, 5.000%, 9/01/21 –
9/15 at 100.00
AA
91,120
   
AMBAC Insured
     
4,915
 
New York City, New York, General Obligation Bonds, Fiscal Series 2005F-1, 5.000%, 9/01/21
9/15 at 100.00
Aa2 (4)
5,284,313
   
(Pre-refunded 9/01/15) – AMBAC Insured
     
10,000
 
New York City, New York, General Obligation Bonds, Fiscal Series 2005M, 5.000%, 4/01/26 –
4/15 at 100.00
AA
10,499,000
   
FGIC Insured
     
5,000
 
New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/26 –
1/15 at 100.00
A
5,184,600
   
AMBAC Insured
     
14,000
 
New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 –
7/15 at 100.00
AA–
14,673,120
   
AGM Insured
     
   
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds,
     
   
Series 2004A-1:
     
1,000
 
5.000%, 3/15/23 (Pre-refunded 3/15/14) – FGIC Insured
3/14 at 100.00
AAA
1,005,990
5,000
 
5.000%, 3/15/25 (Pre-refunded 3/15/14) – FGIC Insured
3/14 at 100.00
AAA
5,029,950
3,650
 
New York State Urban Development Corporation, State Personal Income Tax Revenue Bonds, Series
3/15 at 100.00
AAA
3,848,268
   
2005B, 5.000%, 3/15/25 (Pre-refunded 3/15/15) – AGM Insured
     
4,655
 
Onondaga Civic Development Corporation, New York, Revenue Bonds, St. Joseph’s Hospital Health
7/22 at 100.00
BB
3,912,714
   
Center Project, Series 2012, 5.000%, 7/01/42
     
   
Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Refunding
     
   
Subordinate Lien Series 2013A:
     
2,135
 
5.000%, 11/15/28
No Opt. Call
A+
2,357,574
2,430
 
0.000%, 11/15/31
No Opt. Call
A+
1,079,066
1,460
 
0.000%, 11/15/32
No Opt. Call
A+
609,827
91,130
 
Total New York
   
93,039,140
   
North Carolina – 1.9% (1.3% of Total Investments)
     
750
 
Gaston County Industrial Facilities and Pollution Control Financing Authority, North Carolina, National
8/15 at 100.00
N/R
673,365
   
Gypsum Company Project Exempt Facilities Revenue Bonds, Series 2005, 5.750%, 8/01/35
     
   
(Alternative Minimum Tax)
     
   
Mooresville, North Carolina, Enterprise System Revenue Bonds, Series 2004:
     
2,115
 
5.000%, 5/01/22 (Pre-refunded 5/01/14) – FGIC Insured
5/14 at 100.00
AA– (4)
2,140,782
2,575
 
5.000%, 5/01/26 (Pre-refunded 5/01/14) – FGIC Insured
5/14 at 100.00
AA– (4)
2,606,389
10,000
 
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Duke University
6/22 at 100.00
AA
10,403,600
   
Health System, Series 2012A, 5.000%, 6/01/42
     
4,715
 
North Carolina Medical Care Commission, Health Care Facilities Revenue Bonds, Vidant Health,
6/22 at 100.00
A+
4,827,641
   
Refunding Series 2012A, 5.000%, 6/01/36
     
   
Raleigh Durham Airport Authority, North Carolina, Airport Revenue Bonds, Series 2005A:
     
3,205
 
5.000%, 5/01/23 – AMBAC Insured
5/15 at 100.00
Aa3
3,342,879
3,295
 
5.000%, 5/01/24 – AMBAC Insured
5/15 at 100.00
Aa3
3,436,751
26,655
 
Total North Carolina
   
27,431,407
   
North Dakota – 0.8% (0.5% of Total Investments)
     
2,525
 
Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated
12/21 at 100.00
A–
2,524,823
   
Group, Series 2012, 5.000%, 12/01/35
     
   
Grand Forks, North Dakota, Sales Tax Revenue Bonds, Alerus Project, Series 2005A:
     
2,195
 
5.000%, 12/15/22 – NPFG Insured
12/15 at 100.00
Aa3
2,347,267
1,355
 
5.000%, 12/15/23 – NPFG Insured
12/15 at 100.00
Aa3
1,445,595
3,000
 
5.000%, 12/15/24 – NPFG Insured
12/15 at 100.00
Aa3
3,192,540
1,890
 
Williston, North Dakota, Multifamily Housing Revenue Bonds, Eagle Crest Apartments LLC
9/23 at 100.00
N/R
1,893,591
   
Project, Series 2013, 7.750%, 9/01/38
     
10,965
 
Total North Dakota
   
11,403,816
   
Ohio – 7.5% (5.0% of Total Investments)
     
1,730
 
Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds,
5/22 at 100.00
A1
1,750,950
   
Children’s Hospital Medical Center, Improvement & Refunding Series 2012, 5.000%, 11/15/42
     
   
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and
     
   
Improvement Series 2012A:
     
1,930
 
5.000%, 5/01/33
5/22 at 100.00
AA–
2,023,566
2,755
 
4.000%, 5/01/33
5/22 at 100.00
AA–
2,573,638
2,420
 
5.000%, 5/01/42
5/22 at 100.00
AA–
2,493,205
   
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
     
   
Bonds, Senior Lien, Series 2007A-2:
     
12,565
 
5.125%, 6/01/24
6/17 at 100.00
B–
10,594,934
350
 
5.875%, 6/01/30
6/17 at 100.00
B
282,233
11,575
 
5.750%, 6/01/34
6/17 at 100.00
B
9,013,221
1,860
 
5.875%, 6/01/47
6/17 at 100.00
B
1,485,768
2,650
 
Cleveland State University, Ohio, General Receipts Bonds, Series 2004, 5.250%, 6/01/24
6/14 at 100.00
A+ (4)
2,695,395
   
(Pre-refunded 6/01/14) – FGIC Insured
     
2,000
 
Columbus City School District, Franklin County, Ohio, General Obligation Bonds, Series 2004,
12/14 at 100.00
AA (4)
2,085,380
   
5.250%, 12/01/25 (Pre-refunded 12/01/14) – AGM Insured
     
2,385
 
Columbus, Ohio, Tax Increment Financing Bonds, Easton Project, Series 2004A, 5.000%, 12/01/22
6/14 at 100.00
N/R (4)
2,423,876
   
(Pre-refunded 6/01/14) – AMBAC Insured
     
6,000
 
Franklin County, Ohio, Hospital Revenue Bonds, Nationwide Children’s Hospital Project,
5/22 at 100.00
Aa2
6,160,740
   
Improvement Series 2012A, 5.000%, 11/01/42
     
2,205
 
Hamilton City School District, Ohio, General Obligation Bonds, Series 2005, 5.000%, 12/01/24 –
6/15 at 100.00
Baa1
2,315,801
   
NPFG Insured
     
19,595
 
Hamilton County, Ohio, Sales Tax Bonds, Subordinate Lien, Series 2006A, 4.250%, 12/01/32 –
12/16 at 100.00
A+
19,601,858
   
AMBAC Insured
     
6,425
 
JobsOhio Beverage System, Ohio, Statewide Liquor Profits Revenue Bonds, Senior Lien Series
1/23 at 100.00
AA
6,689,710
   
2013A, 5.000%, 1/01/38 (UB) (5)
     
   
JobsOhio Beverage System, Ohio, Statewide Senior Lien Liquor Profits Revenue Bonds, Tender
     
   
Option Bond Trust 1157:
     
2,000
 
17.677%, 1/01/38 (IF) (5)
1/23 at 100.00
AA
2,329,600
1,725
 
17.677%, 1/01/38 (IF) (5)
1/23 at 100.00
AA
2,009,280
1,250
 
17.677%, 1/01/38 (IF) (5)
1/23 at 100.00
AA
1,456,000
625
 
17.677%, 1/01/38 (IF) (5)
1/23 at 100.00
AA
728,000
1,750
 
17.669%, 1/01/38 (IF) (5)
1/23 at 100.00
AA
2,038,260
390
 
17.609%, 1/01/38 (IF) (5)
1/23 at 100.00
AA
454,015
   
Middletown City School District, Butler County, Ohio, General Obligation Bonds, Refunding
     
   
Series 2007:
     
4,380
 
5.250%, 12/01/27 – AGM Insured
No Opt. Call
A2
5,016,589
6,000
 
5.250%, 12/01/31 – AGM Insured
No Opt. Call
A2
6,854,160
9,235
 
Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated
2/23 at 100.00
BB+
7,185,107
   
Group Project, Series 2013, 5.000%, 2/15/48
     
   
Southeastern Ohio Port Authority, Hospital Facilities Revenue Bonds, Memorial Health System
     
   
Obligated Group Project, Refunding and Improvement Series 2012:
     
2,000
 
5.750%, 12/01/32
12/22 at 100.00
N/R
1,885,800
1,320
 
6.000%, 12/01/42
12/22 at 100.00
N/R
1,239,256
2,000
 
University of Akron, Ohio, General Receipts Bonds, Federally Taxable Build America Bonds,
1/20 at 100.00
AA–
2,126,580
   
Series 2010B, 5.000%, 1/01/29 – AGM Insured
     
109,120
 
Total Ohio
   
105,512,922
   
Oklahoma – 2.8% (1.8% of Total Investments)
     
   
Oklahoma Capitol Improvement Authority, State Facilities Revenue Bonds, Series 2005F:
     
3,500
 
5.000%, 7/01/24 – AMBAC Insured
7/15 at 100.00
AA
3,704,610
7,500
 
5.000%, 7/01/27 – AMBAC Insured
7/15 at 100.00
AA
7,885,575
   
Oklahoma City Water Utilities Trust, Oklahoma, Water and Sewer Revenue Bonds, Series 2010:
     
1,000
 
5.375%, 7/01/40
7/21 at 100.00
AAA
1,110,830
1,500
 
5.000%, 7/01/40
7/21 at 100.00
AAA
1,615,845
180
 
Oklahoma Housing Finance Agency, GNMA Collateralized Single Family Mortgage Revenue Bonds,
No Opt. Call
AA+
183,672
   
Series 1987A, 7.997%, 8/01/18 (Alternative Minimum Tax)
     
19,765
 
Oklahoma Municipal Power Authority, Power Supply System Revenue Bonds, Series 2007, 4.500%,
1/17 at 100.00
A
19,638,306
   
1/01/47 – FGIC Insured
     
4,880
 
University of Oklahoma, Student Housing Revenue Bonds, Series 2004, 5.000%, 7/01/22 –
7/14 at 100.00
Aa3
4,970,134
   
AMBAC Insured
     
38,325
 
Total Oklahoma
   
39,108,972
   
Oregon – 0.5% (0.3% of Total Investments)
     
2,535
 
Oregon Department of Administrative Services, Certificates of Participation, Series 2005A,
5/15 at 100.00
AA (4)
2,686,111
   
5.000%, 5/01/25 (Pre-refunded 5/01/15) – AGM Insured
     
4,000
 
Oregon Department of Administrative Services, State Lottery Revenue Bonds, Series 2011A,
4/21 at 100.00
AAA
4,506,240
   
5.250%, 4/01/31
     
6,535
 
Total Oregon
   
7,192,351
   
Pennsylvania – 5.6% (3.8% of Total Investments)
     
2,165
 
Allegheny County Sanitary Authority, Pennsylvania, Sewer Revenue Bonds, Series 2010, 5.000%,
12/20 at 100.00
AA–
2,213,236
   
6/01/40 – AGM Insured
     
7,925
 
Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Series 2006A,
6/16 at 100.00
AA
8,556,702
   
5.000%, 6/01/26 – AGM Insured (UB)
     
7,630
 
Dauphin County General Authority, Pennsylvania, Health System Revenue Bonds, Pinnacle Health
6/22 at 100.00
A
7,691,574
   
System Project, Series 2012A, 5.000%, 6/01/42
     
5,250
 
Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E,
1/20 at 100.00
AA–
5,455,275
   
5.000%, 1/01/40 – AGM Insured
     
1,565
 
Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue
8/20 at 100.00
AA
1,672,782
   
Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38
     
1,800
 
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Drexel University, Series
5/15 at 100.00
A
1,878,120
   
2005A, 5.000%, 5/01/28 – NPFG Insured
     
11,100
 
Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of
12/16 at 100.00
AA–
11,103,774
   
Philadelphia, Series 2006B, 4.500%, 6/01/32 – AGM Insured
     
2,625
 
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A, 5.000%, 12/01/26 –
6/16 at 100.00
A+
2,822,951
   
AMBAC Insured
     
1,300
 
Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital
7/22 at 100.00
BB+
1,111,760
   
Revenue Bonds, Temple University Health System Obligated Group, Series 2012A, 5.625%, 7/01/42
     
10,000
 
Philadelphia, Pennsylvania, Airport Revenue Bonds, Series 2010A, 5.000%, 6/15/40 – AGM Insured
6/20 at 100.00
AA–
10,232,100
7,055
 
Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Hotel Room
8/20 at 100.00
AA–
7,269,966
   
Excise Tax Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/35 – AGC Insured
     
5,180
 
Pittsburgh and Allegheny County Sports and Exhibition Authority, Pennsylvania, Sales Tax
8/20 at 100.00
AA–
5,475,415
   
Revenue Bonds, Refunding Series 2010, 5.000%, 2/01/31 – AGM Insured
     
6,335
 
Radnor Township School District, Delaware County, Pennsylvania, General Obligation Bonds,
8/15 at 100.00
Aa2
6,629,831
   
Series 2005B, 5.000%, 2/15/30 – AGM Insured
     
   
Reading School District, Berks County, Pennsylvania, General Obligation Bonds, Series 2005:
     
3,285
 
5.000%, 1/15/22 – AGM Insured
1/16 at 100.00
AA–
3,556,144
3,450
 
5.000%, 1/15/23 – AGM Insured
1/16 at 100.00
AA–
3,730,554
76,665
 
Total Pennsylvania
   
79,400,184
   
Puerto Rico – 0.7% (0.4% of Total Investments)
     
2,500
 
Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2005RR, 5.000%, 7/01/30
7/15 at 100.00
AA+ (4)
2,667,275
   
(Pre-refunded 7/01/15) – SYNCORA GTY Insured
     
445
 
Puerto Rico Highway and Transportation Authority, Highway Revenue Bonds, Series 2003G, 5.250%,
7/14 at 100.00
BBB
354,518
   
7/01/19 – FGIC Insured
     
1,550
 
Puerto Rico Municipal Finance Agency, Series 2005C, 5.250%, 8/01/21 – CIFG Insured
No Opt. Call
AA–
1,530,656
   
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A:
     
20,300
 
0.000%, 8/01/41 – NPFG Insured
No Opt. Call
AA–
3,117,877
14,195
 
0.000%, 8/01/45 – NPFG Insured
No Opt. Call
AA–
1,645,059
38,990
 
Total Puerto Rico
   
9,315,385
   
Rhode Island – 1.0% (0.7% of Total Investments)
     
2,195
 
Providence Housing Development Corporation, Rhode Island, FHA-Insured Section 8 Assisted
7/14 at 100.00
A
2,200,246
   
Mortgage Revenue Refunding Bonds, Barbara Jordan Apartments, Series 1994A, 6.750%,
     
   
7/01/25 – NPFG Insured
     
1,405
 
Rhode Island Health & Educational Building Corporation, Higher Education Auxiliary Enterprise
9/14 at 100.00
A1 (4)
1,451,787
   
Revenue Bonds, Series 2004A, 5.500%, 9/15/24 (Pre-refunded 9/15/14) – AMBAC Insured
     
   
Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds,
     
   
Series 2002A:
     
250
 
6.125%, 6/01/32
6/14 at 100.00
BBB+
249,980
10,790
 
6.250%, 6/01/42
6/14 at 100.00
BBB–
10,617,144
14,640
 
Total Rhode Island
   
14,519,157
   
South Carolina – 4.4% (2.9% of Total Investments)
     
14,650
 
Anderson County School District 5, South Carolina, General Obligation Bonds, Series 2008,
No Opt. Call
Aa1
17,256,821
   
Trust 1181, 9.766%, 8/01/15 – AGM Insured (IF)
     
   
Medical University Hospital Authority, South Carolina, FHA-Insured Mortgage Revenue Bonds,
     
   
Series 2004A:
     
2,000
 
5.250%, 8/15/22 (Pre-refunded 8/15/14) – NPFG Insured
8/14 at 100.00
A (4)
2,054,560
2,605
 
5.250%, 8/15/23 (Pre-refunded 8/15/14) – NPFG Insured
8/14 at 100.00
A (4)
2,676,064
2,385
 
5.250%, 8/15/25 (Pre-refunded 8/15/14) – NPFG Insured
8/14 at 100.00
A (4)