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Portfolio of Investments
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Nuveen Select Tax-Free Income Portfolio 2 (NXQ)
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June 30 ,2016 (Unaudited)
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Principal
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Optional Call
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Amount (000)
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Description (1)
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Provisions (2)
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Ratings (3)
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Value
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LONG-TERM INVESTMENTS – 98.7%
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MUNICIPAL BONDS – 98.7%
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Alabama – 1.4%
|
|
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$ 3,750
|
Birmingham, Alabama, General Obligation Bonds, Refunding Series 2006A, 5.000%, 4/01/22
|
10/16 at 100.00
|
AA (4)
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$ 3,793,313
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|
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(Pre-refunded 10/01/16) – NPFG Insured
|
|
|
|
|
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Alaska – 0.4%
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1,000
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
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12/16 at 100.00
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B3
|
989,150
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Series 2006A, 5.000%, 6/01/32
|
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Arizona – 3.1%
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2,500
|
Arizona Health Facilities Authority, Hospital Revenue Bonds, Catholic Healthcare West, Series
|
3/21 at 100.00
|
A
|
2,850,250
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2011B-1&2, 5.250%, 3/01/39
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|
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1,590
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Arizona Water Infrastructure Finance Authority, Water Quality Revenue Bonds, Series 2008A,
|
10/18 at 100.00
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AAA
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1,744,421
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|
5.000%, 10/01/20
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|
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600
|
Pima County Industrial Development Authority, Arizona, Revenue Bonds, Tucson Electric Power
|
10/20 at 100.00
|
A3
|
678,630
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|
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Company, Series 2010A, 5.250%, 10/01/40
|
|
|
|
|
2,250
|
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc.
|
No Opt. Call
|
BBB+
|
2,957,265
|
|
|
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
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|
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|
215
|
Sedona Wastewater Municipal Property Corporation (Arizona), Excise Tax Revenue Bonds, Series
|
No Opt. Call
|
AA–
|
197,753
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|
1998, 0.000%, 7/01/20 – NPFG Insured
|
|
|
|
|
7,155
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Total Arizona
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|
8,428,319
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California – 16.8%
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1,000
|
Alameda Corridor Transportation Authority, California, Revenue Bonds, Refunding Subordinate
|
10/17 at 100.00
|
BBB+ (4)
|
1,061,280
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Lien Series 2004A, 5.450%, 10/01/25 (Pre-refunded 10/01/17) – AMBAC Insured
|
|
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11,000
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Alhambra Unified School District, Los Angeles County, California, General Obligation Bonds,
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No Opt. Call
|
AA
|
4,917,770
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|
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Capital Appreciation Series 2009B, 0.000%, 8/01/41 – AGC Insured
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|
|
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4,000
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Arcadia Unified School District, Los Angeles County, California, General Obligation Bonds,
|
2/17 at 44.77
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Aa1
|
1,772,440
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|
Election 2006 Series 2007A, 0.000%, 8/01/33 – AGM Insured
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|
|
|
|
1,500
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California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los
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12/18 at 100.00
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B3
|
1,526,865
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Angeles County Securitization Corporation, Series 2006A, 5.600%, 6/01/36
|
|
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500
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California State Public Works Board, Lease Revenue Refunding Bonds, Community Colleges
|
No Opt. Call
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A+
|
502,085
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|
Projects, Series 1998A, 5.250%, 12/01/16
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|
|
|
|
60
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California State, General Obligation Bonds, Series 1997, 5.000%, 10/01/18 – AMBAC Insured
|
10/16 at 100.00
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AA–
|
60,242
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|
2,500
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California Statewide Community Development Authority, Health Revenue Bonds, Enloe Medical
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8/18 at 100.00
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AA– (4)
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2,798,775
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Center, Refunding Series 2008A, 6.250%, 8/15/28 (Pre-refunded 8/15/18)
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|
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2,440
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Eureka Unified School District, Humboldt County, California, General Obligation Bonds, Series
|
No Opt. Call
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AA
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1,855,766
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|
|
2002, 0.000%, 8/01/27 – AGM Insured
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|
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|
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3,290
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Folsom Cordova Unified School District, Sacramento County, California, General Obligation
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No Opt. Call
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AA–
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2,695,398
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|
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Bonds, School Facilities Improvement District 4, Series 2007A, 0.000%, 10/01/24 – NPFG Insured
|
|
|
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1,000
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Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
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6/17 at 100.00
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B–
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1,000,950
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Bonds, Series 2007A-1, 5.125%, 6/01/47
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3,030
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Grossmont Union High School District, San Diego County, California, General Obligation Bonds,
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No Opt. Call
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Aa3
|
2,535,656
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Series 2006, 0.000%, 8/01/25 – NPFG Insured
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|
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1,495
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Huntington Beach Union High School District, Orange County, California, General Obligation
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No Opt. Call
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Aa2
|
899,601
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Bonds, Series 2007, 0.000%, 8/01/33 – FGIC Insured
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|
|
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1,160
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Mount San Antonio Community College District, Los Angeles County, California, General
|
8/35 at 100.00
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AA
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1,020,290
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Obligation Bonds, Election of 2008, Series 2013A, 0.000%, 8/01/43 (5)
|
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450
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M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series
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No Opt. Call
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A
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686,925
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2009C, 6.500%, 11/01/39
|
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|
1,195
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Palmdale Elementary School District, Los Angeles County, California, General Obligation Bonds,
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No Opt. Call
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AA
|
880,548
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Series 2003, 0.000%, 8/01/28 – AGM Insured
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|
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590
|
Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2009,
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11/19 at 100.00
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Ba1
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663,007
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6.750%, 11/01/39
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4,620
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Palomar Pomerado Health, California, General Obligation Bonds, Capital Appreciation, Election
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No Opt. Call
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AA–
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3,800,320
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|
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of 2004, Series 2007A, 0.000%, 8/01/24 – NPFG Insured
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|
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4,400
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Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community
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No Opt. Call
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A+
|
3,068,824
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Development Project, Series 1999, 0.000%, 8/01/29 – AMBAC Insured
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|
|
|
|
2,500
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Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of
|
No Opt. Call
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AA– (4)
|
1,740,125
|
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Participation, Series 2006, 0.000%, 10/01/34 – NPFG Insured (ETM)
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|
|
|
|
2,755
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Sacramento City Unified School District, Sacramento County, California, General Obligation
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No Opt. Call
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A1
|
2,316,514
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|
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Bonds, Series 2007, 0.000%, 7/01/25 – AGM Insured
|
|
|
|
|
1,800
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San Diego County Water Authority, California, Water Revenue Certificates of Participation,
|
5/18 at 100.00
|
AAA
|
1,945,728
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|
|
Series 2008A, 5.000%, 5/01/38 (Pre-refunded 5/01/18) (WI/DD, Settling 7/01/16) – AGM Insured
|
|
|
|
|
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San Joaquin Delta Community College District, California, General Obligation Bonds, Election
|
|
|
|
|
|
2004 Series 2008B:
|
|
|
|
|
1,000
|
0.000%, 8/01/30 – AGM Insured
|
8/18 at 50.12
|
AA
|
491,650
|
|
1,890
|
0.000%, 8/01/31 – AGM Insured
|
8/18 at 47.14
|
AA
|
873,917
|
|
6,025
|
Simi Valley Unified School District, Ventura County, California, General Obligation Bonds,
|
No Opt. Call
|
AA
|
4,016,747
|
|
|
Series 2007C, 0.000%, 8/01/30
|
|
|
|
|
2,080
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Tobacco Securitization Authority of Northern California, Tobacco Settlement Asset-Backed
|
12/16 at 100.00
|
B–
|
2,080,146
|
|
|
Bonds, Series 2005A-1, 5.500%, 6/01/45
|
|
|
|
|
62,280
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Total California
|
|
|
45,211,569
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|
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Colorado – 8.4%
|
|
|
|
|
500
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Catholic Health Initiatives,
|
7/19 at 100.00
|
A+
|
562,915
|
|
|
Series 2009A, 5.500%, 7/01/34
|
|
|
|
|
1,975
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Colorado Health Facilities Authority, Colorado, Revenue Bonds, Sisters of Charity of
|
1/20 at 100.00
|
AA–
|
2,212,889
|
|
|
Leavenworth Health Services Corporation, Series 2010A, 5.000%, 1/01/40
|
|
|
|
|
1,000
|
Colorado Health Facilities Authority, Colorado, Revenue Bonds, Valley View Hospital
|
5/17 at 100.00
|
A–
|
1,035,530
|
|
|
Association, Series 2007, 5.250%, 5/15/42
|
|
|
|
|
1,935
|
Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2013B,
|
11/23 at 100.00
|
A
|
2,290,382
|
|
|
5.000%, 11/15/43
|
|
|
|
|
2,230
|
Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel,
|
11/16 at 100.00
|
BBB–
|
2,246,279
|
|
|
Senior Lien Series 2006, 4.750%, 12/01/35 – SYNCORA GTY Insured
|
|
|
|
|
1,600
|
Denver, Colorado, Airport System Revenue Bonds, Refunding Series 2006A, 5.000%, 11/15/16 –
|
No Opt. Call
|
AA–
|
1,626,544
|
|
|
NPFG Insured
|
|
|
|
|
|
E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B:
|
|
|
|
|
5,140
|
0.000%, 9/01/24 – NPFG Insured
|
No Opt. Call
|
AA–
|
4,265,789
|
|
8,100
|
0.000%, 9/01/29 – NPFG Insured
|
No Opt. Call
|
AA–
|
5,686,037
|
|
4,475
|
0.000%, 9/01/33 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,755,168
|
|
26,955
|
Total Colorado
|
|
|
22,681,533
|
|
|
Connecticut – 0.7%
|
|
|
|
|
1,945
|
Connecticut Health and Educational Facilities Authority, Auction Rate Revenue Bonds, Yale
|
7/17 at 100.00
|
AAA
|
2,027,896
|
|
|
University, Series 2007Z-2, 5.050%, 7/01/42
|
|
|
|
|
|
Florida – 2.2%
|
|
|
|
|
1,685
|
Broward County, Florida, Professional Sports Facilities Tax and Revenue Bonds, Broward County
|
No Opt. Call
|
AA
|
1,696,761
|
|
|
Civic Arena Project, Refunding Series 2006A, 5.000%, 9/01/28 – AMBAC Insured
|
|
|
|
|
1,495
|
Duval County School Board, Florida, Certificates of Participation, Master Lease Program,
|
7/17 at 100.00
|
Aa3 (4)
|
1,561,662
|
|
|
Series 2008, 5.000%, 7/01/26 (Pre-refunded 7/01/17) – AGM Insured
|
|
|
|
|
1,000
|
Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Tampa
|
10/16 at 100.00
|
A
|
1,009,770
|
|
|
General Hospital, Series 2006, 5.250%, 10/01/41
|
|
|
|
|
1,500
|
Lakeland, Florida, Hospital System Revenue Bonds, Lakeland Regional Health, Series 2015,
|
11/24 at 100.00
|
A2
|
1,766,235
|
|
|
5.000%, 11/15/45
|
|
|
|
|
5,680
|
Total Florida
|
|
|
6,034,428
|
|
|
Illinois – 12.4%
|
|
|
|
|
1,615
|
Board of Trustees of Southern Illinois University, Housing and Auxiliary Facilities System
|
No Opt. Call
|
AA–
|
1,317,759
|
|
|
Revenue Bonds, Series 1999A, 0.000%, 4/01/23 – NPFG Insured
|
|
|
|
|
735
|
Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series
|
12/21 at 100.00
|
B+
|
654,077
|
|
|
2011A, 5.000%, 12/01/41
|
|
|
|
|
1,000
|
Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2006A, 4.625%,
|
1/17 at 100.00
|
AA
|
1,003,170
|
|
|
1/01/31 – AGM Insured
|
|
|
|
|
1,515
|
Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2007C, 5.000%,
|
No Opt. Call
|
AA–
|
1,581,039
|
|
|
1/01/27 – NPFG Insured
|
|
|
|
|
470
|
Illinois Finance Authority, Revenue Bonds, Palos Community Hospital, Series 2007A, 5.000%,
|
5/17 at 100.00
|
AA– (4)
|
487,921
|
|
|
5/15/32 (Pre-refunded 5/15/17) – NPFG Insured
|
|
|
|
|
1,750
|
Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers,
|
8/18 at 100.00
|
BBB+
|
1,867,880
|
|
|
Refunding Series 2008A, 5.500%, 8/15/30
|
|
|
|
|
1,050
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Tender Option Bond Trust
|
No Opt. Call
|
AA– (4)
|
1,142,789
|
|
|
2015-XF0248, 8.984%, 7/01/46 (Pre-refunded 7/01/17) (IF) (6)
|
|
|
|
|
1,035
|
Illinois Finance Authority, Student Housing Revenue Bonds, Educational Advancement Fund Inc.,
|
11/16 at 100.00
|
BBB+
|
1,044,015
|
|
|
University Center Project, Series 2006B, 5.000%, 5/01/25
|
|
|
|
|
2,190
|
Illinois State, General Obligation Bonds, Refunding Series 2012, 5.000%, 8/01/23
|
No Opt. Call
|
BBB+
|
2,480,131
|
|
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
|
|
|
|
|
|
Project, Series 2002A:
|
|
|
|
|
6,350
|
0.000%, 12/15/31 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,773,678
|
|
1,350
|
0.000%, 6/15/35 – NPFG Insured
|
No Opt. Call
|
AA–
|
683,195
|
|
5,000
|
0.000%, 12/15/36 – NPFG Insured
|
No Opt. Call
|
AA–
|
2,373,600
|
|
9,170
|
0.000%, 6/15/39 – NPFG Insured
|
No Opt. Call
|
AA–
|
3,929,895
|
|
5,045
|
Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,
|
12/16 at 100.00
|
AA
|
5,051,558
|
|
|
Series 2002A, 5.000%, 6/01/22 – RAAI Insured
|
|
|
|
|
|
Sauk Village, Illinois, General Obligation Alternate Revenue Source Bonds, Tax Increment,
|
|
|
|
|
|
Series 2002B:
|
|
|
|
|
1,060
|
0.000%, 12/01/17 – RAAI Insured
|
No Opt. Call
|
AA
|
1,003,703
|
|
1,135
|
0.000%, 12/01/18 – RAAI Insured
|
No Opt. Call
|
AA
|
1,032,430
|
|
2,000
|
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2007, 5.000%, 3/01/22
|
3/17 at 100.00
|
AA– (4)
|
2,058,580
|
|
|
(Pre-refunded 3/01/17) – NPFG Insured
|
|
|
|
|
1,825
|
Springfield, Illinois, Electric Revenue Bonds, Senior Lien Series 2015, 5.000%, 3/01/28
|
3/25 at 100.00
|
A
|
2,250,590
|
|
44,295
|
Total Illinois
|
|
|
33,736,010
|
|
|
Indiana – 4.3%
|
|
|
|
|
1,600
|
Indiana Bond Bank, Special Program Bonds, Carmel Junior Waterworks Project, Series 2008B,
|
No Opt. Call
|
AA
|
1,114,464
|
|
|
0.000%, 6/01/30 – AGM Insured
|
|
|
|
|
2,040
|
Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group,
|
6/25 at 100.00
|
AA
|
2,487,352
|
|
|
Refunding 2015A, 5.000%, 12/01/40
|
|
|
|
|
170
|
Indiana Finance Authority, Tax-Exempt Private Activity Revenue Bonds, I-69 Section 5 Project,
|
9/24 at 100.00
|
BBB–
|
190,458
|
|
|
Series 2014, 5.250%, 9/01/40 (Alternative Minimum Tax)
|
|
|
|
|
1,075
|
Indiana Health and Educational Facilities Financing Authority, Revenue Bonds, Ascension
|
11/16 at 100.00
|
AA+ (4)
|
1,093,039
|
|
|
Health, Series 2006B-5, 5.000%, 11/15/36 (Pre-refunded 11/15/16)
|
|
|
|
|
485
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest
|
3/17 at 100.00
|
A+
|
498,522
|
|
|
Indiana, Series 2007, 5.500%, 3/01/37
|
|
|
|
|
515
|
Indiana Health Facility Financing Authority, Revenue Bonds, Community Foundation of Northwest
|
3/17 at 100.00
|
N/R (4)
|
531,480
|
|
|
Indiana, Series 2007, 5.500%, 3/01/37 (Pre-refunded 3/01/17)
|
|
|
|
|
2,000
|
Indiana Municipal Power Agency, Power Supply Revenue Bonds, Series 2007A, 5.000%, 1/01/42
|
1/17 at 100.00
|
AA– (4)
|
2,044,060
|
|
|
(Pre-refunded 1/01/17) – NPFG Insured
|
|
|
|
|
1,825
|
Indianapolis Local Public Improvement Bond Bank, Indiana, Waterworks Project Series 2009A,
|
1/19 at 100.00
|
AA
|
2,044,858
|
|
|
5.500%, 1/01/38 – AGC Insured
|
|
|
|
|
1,490
|
Whiting Redevelopment District, Indiana, Tax Increment Revenue Bonds, Lakefront Development
|
No Opt. Call
|
N/R
|
1,574,334
|
|
|
Project, Series 2010, 6.000%, 1/15/19
|
|
|
|
|
11,200
|
Total Indiana
|
|
|
11,578,567
|
|
|
Iowa – 1.6%
|
|
|
|
|
1,540
|
Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company
|
No Opt. Call
|
B+
|
1,604,464
|
|
|
Project, Series 2013, 5.000%, 12/01/19
|
|
|
|
|
1,645
|
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C,
|
12/16 at 100.00
|
B+
|
1,645,115
|
|
|
5.375%, 6/01/38
|
|
|
|
|
1,000
|
Iowa Tobacco Settlement Authority, Tobacco Asset-Backed Revenue Bonds, Series 2005B,
|
6/17 at 100.00
|
B+
|
1,004,110
|
|
|
5.600%, 6/01/34
|
|
|
|
|
4,185
|
Total Iowa
|
|
|
4,253,689
|
|
|
Kansas – 0.1%
|
|
|
|
|
305
|
Overland Park Development Corporation, Kansas, Second Tier Revenue Bonds, Overland Park
|
1/17 at 100.00
|
BB+
|
307,123
|
|
|
Convention Center, Series 2007B, 5.125%, 1/01/22 – AMBAC Insured
|
|
|
|
|
|
Kentucky – 1.3%
|
|
|
|
|
2,500
|
Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare
|
8/21 at 100.00
|
A+
|
2,794,875
|
|
|
System Obligated Group, Series 2011, 5.250%, 8/15/46
|
|
|
|
|
805
|
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
|
7/31 at 100.00
|
Baa3
|
698,861
|
|
|
Downtown Crossing Project, Convertible Capital Appreciation Series 2013C, 0.000%, 7/01/43 (5)
|
|
|
|
|
3,305
|
Total Kentucky
|
|
|
3,493,736
|
|
|
Maryland – 0.3%
|
|
|
|
|
|
Baltimore, Maryland, Senior Lien Convention Center Hotel Revenue Bonds, Series 2006A:
|
|
|
|
|
595
|
5.000%, 9/01/32 – SYNCORA GTY Insured
|
9/16 at 100.00
|
Ba1
|
598,600
|
|
100
|
5.250%, 9/01/39 – SYNCORA GTY Insured
|
9/16 at 100.00
|
Ba1
|
100,605
|
|
695
|
Total Maryland
|
|
|
699,205
|
|
|
Massachusetts – 0.2%
|
|
|
|
|
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,
|
7/18 at 100.00
|
A– (4)
|
543,155
|
|
|
Series 2008E-1 &2, 5.000%, 7/01/28 (Pre-refunded 7/01/18)
|
|
|
|
|
|
Michigan – 3.6%
|
|
|
|
|
355
|
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,
|
7/22 at 100.00
|
A–
|
405,066
|
|
|
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
|
|
|
|
|
2,590
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2001E, 5.750%,
|
7/18 at 100.00
|
AA+
|
2,807,974
|
|
|
7/01/31 – BHAC Insured
|
|
|
|
|
2,500
|
Detroit, Michigan, Sewer Disposal System Revenue Bonds, Second Lien, Series 2006B, 5.000%,
|
7/16 at 100.00
|
AA–
|
2,508,675
|
|
|
7/01/33 – FGIC Insured
|
|
|
|
|
2,060
|
Detroit, Michigan, Water Supply System Senior Lien Revenue Bonds, Series 2004A, 4.500%,
|
7/16 at 100.00
|
AA–
|
2,066,242
|
|
|
7/01/25 – NPFG Insured
|
|
|
|
|
385
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I,
|
10/25 at 100.00
|
Aa2
|
470,062
|
|
|
5.000%, 4/15/38
|
|
|
|
|
1,250
|
Portage Public Schools, Kalamazoo County, Michigan, General Obligation Bonds, School Building
|
5/18 at 100.00
|
AA– (4)
|
1,350,550
|
|
|
& Site Series 2008, 5.000%, 5/01/21 (Pre-refunded 5/01/18) – AGM Insured
|
|
|
|
|
250
|
Royal Oak Hospital Finance Authority, Michigan, Hospital Revenue Bonds, William Beaumont
|
9/18 at 100.00
|
Aaa
|
291,068
|
|
|
Hospital, Refunding Series 2009V, 8.250%, 9/01/39 (Pre-refunded 9/01/18)
|
|
|
|
|
9,390
|
Total Michigan
|
|
|
9,899,637
|
|
|
Minnesota – 2.0%
|
|
|
|
|
955
|
Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2007-I, 4.850%,
|
7/16 at 100.00
|
AA+ (4)
|
955,115
|
|
|
7/01/38 (Pre-refunded 7/01/16) (Alternative Minimum Tax)
|
|
|
|
|
4,555
|
Minnesota State, General Obligation Bonds, Various Purpose Series 2013A, 5.000%, 8/01/16
|
No Opt. Call
|
AA+
|
4,573,083
|
|
5,510
|
Total Minnesota
|
|
|
5,528,198
|
|
|
Missouri – 0.1%
|
|
|
|
|
270
|
Bi-State Development Agency of the Missouri-Illinois Metropolitan District, Mass Transit Sales
|
10/18 at 100.00
|
AA+
|
294,565
|
|
|
Tax Appropriation Bonds, Refunding Combined Lien Series 2013A, 5.000%, 10/01/28
|
|
|
|
|
|
Nebraska – 0.2%
|
|
|
|
|
545
|
Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska
|
11/25 at 100.00
|
A–
|
592,502
|
|
|
Methodist Health System, Refunding Series 2015, 4.125%, 11/01/36
|
|
|
|
|
|
Nevada – 4.0%
|
|
|
|
|
1,325
|
Clark County Water Reclamation District, Nevada, General Obligation Water Bonds, Series 2009A,
|
No Opt. Call
|
AAA
|
1,490,347
|
|
|
5.250%, 7/01/38
|
|
|
|
|
1,250
|
Clark County, Nevada, Airport Revenue Bonds, Tender Option Bond Trust Series 2016-XG0028,
|
No Opt. Call
|
A+ (4)
|
2,059,850
|
|
|
Tender Option Bond Trust Series 2016-X60028, 19.046%, 1/01/18 (IF)
|
|
|
|
|
1,000
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran
|
1/20 at 100.00
|
A+
|
1,126,040
|
|
|
International Airport, Series 2010A, 5.250%, 7/01/42
|
|
|
|
|
3,000
|
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Refunding Series 2015,
|
12/24 at 100.00
|
Aa1
|
3,712,500
|
|
|
5.000%, 6/01/34
|
|
|
|
|
2,500
|
North Las Vegas, Nevada, General Obligation Bonds, Series 2006, 5.000%, 5/01/36 – NPFG Insured
|
11/16 at 100.00
|
AA–
|
2,499,900
|
|
9,075
|
Total Nevada
|
|
|
10,888,637
|
|
|
New Jersey – 3.4%
|
|
|
|
|
2,165
|
New Jersey Economic Development Authority, School Facilities Construction Financing Program
|
3/21 at 100.00
|
A–
|
2,381,652
|
|
|
Bonds, Refunding Series 2011GG, 5.000%, 9/01/22
|
|
|
|
|
1,250
|
New Jersey Economic Development Authority, School Facility Construction Bonds, Series 2005K,
|
No Opt. Call
|
A–
|
1,390,063
|
|
|
5.500%, 12/15/19 – AMBAC Insured
|
|
|
|
|
2,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2012A,
|
No Opt. Call
|
A–
|
2,195,000
|
|
|
5.000%, 6/15/42
|
|
|
|
|
2,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA,
|
6/25 at 100.00
|
A–
|
2,298,940
|
|
|
5.250%, 6/15/29
|
|
|
|
|
1,000
|
Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds,
|
6/17 at 100.00
|
B
|
1,009,320
|
|
|
Series 2007-1A, 5.000%, 6/01/29
|
|
|
|
|
8,415
|
Total New Jersey
|
|
|
9,274,975
|
|
|
New Mexico – 0.4%
|
|
|
|
|
1,000
|
New Mexico Mortgage Finance Authority, Multifamily Housing Revenue Bonds, St Anthony, Series
|
9/17 at 100.00
|
N/R
|
1,017,930
|
|
|
2007A, 5.250%, 9/01/42 (Alternative Minimum Tax)
|
|
|
|
|
|
New York – 4.4%
|
|
|
|
|
1,700
|
Dormitory Authority of the State of New York, FHA Insured Mortgage Hospital Revenue Bonds,
|
8/16 at 100.00
|
N/R (4)
|
1,708,891
|
|
|
Kaleida Health, Series 2006, 4.700%, 2/15/35 (Pre-refunded 8/15/16)
|
|
|
|
|
5,000
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds,
|
9/16 at 100.00
|
N/R (4)
|
5,047,749
|
|
|
Education Series 2006D, 5.000%, 3/15/36 (Pre-refunded 9/15/16)
|
|
|
|
|
500
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series
|
2/21 at 100.00
|
A
|
576,785
|
|
|
2011A, 5.250%, 2/15/47
|
|
|
|
|
1,805
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series 2006A, 5.000%,
|
2/17 at 100.00
|
A
|
1,850,865
|
|
|
2/15/47 – FGIC Insured
|
|
|
|
|
1,250
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding
|
11/22 at 100.00
|
AA–
|
1,526,613
|
|
|
Series 2012F, 5.000%, 11/15/26
|
|
|
|
|
1,135
|
Port Authority of New York and New Jersey, Special Project Bonds, JFK International Air
|
12/20 at 100.00
|
Baa1
|
1,342,989
|
|
|
Terminal LLC Project, Eighth Series 2010, 6.000%, 12/01/42
|
|
|
|
|
11,390
|
Total New York
|
|
|
12,053,892
|
|
|
Ohio – 4.3%
|
|
|
|
|
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
|
|
|
|
|
Bonds, Senior Lien, Series 2007A-2:
|
|
|
|
|
2,155
|
5.375%, 6/01/24
|
6/17 at 100.00
|
B–
|
2,134,786
|
|
2,475
|
5.875%, 6/01/30
|
6/17 at 100.00
|
B–
|
2,475,792
|
|
875
|
5.750%, 6/01/34
|
6/17 at 100.00
|
B–
|
863,406
|
|
2,680
|
5.875%, 6/01/47
|
6/17 at 100.00
|
B–
|
2,675,283
|
|
2,275
|
Ohio Higher Educational Facilities Commission, Revenue Bonds, University Hospitals Health
|
1/17 at 100.00
|
A (4)
|
2,333,058
|
|
|
System Inc., Series 2007A, 5.250%, 1/15/46 (Pre-refunded 1/15/17)
|
|
|
|
|
1,105
|
Ohio Turnpike Commission, Turnpike Revenue Bonds, Infrastructure Project, Junior Lien Series
|
2/23 at 100.00
|
A+
|
1,291,215
|
|
|
2013A-1, 5.000%, 2/15/48
|
|
|
|
|
11,565
|
Total Ohio
|
|
|
11,773,540
|
|
|
Oklahoma – 1.5%
|
|
|
|
|
1,000
|
Norman Regional Hospital Authority, Oklahoma, Hospital Revenue Bonds, Series 2005,
|
9/16 at 100.00
|
BBB
|
1,004,940
|
|
|
5.375%, 9/01/36
|
|
|
|
|
2,905
|
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,
|
2/17 at 100.00
|
AA
|
2,980,152
|
|
|
5.000%, 2/15/42
|
|
|
|
|
95
|
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007,
|
2/17 at 100.00
|
N/R (4)
|
97,623
|
|
|
5.000%, 2/15/42 (Pre-refunded 2/15/17)
|
|
|
|
|
4,000
|
Total Oklahoma
|
|
|
4,082,715
|
|
|
Pennsylvania – 0.6%
|
|
|
|
|
1,500
|
Pennsylvania Turnpike Commission, Motor License Fund-Enhanced Subordinate Special Revenue
|
12/20 at 100.00
|
AA–
|
1,703,640
|
|
|
Bonds, Series 2010B, 5.000%, 12/01/30
|
|
|
|
|
|
Puerto Rico – 0.9%
|
|
|
|
|
1,035
|
Puerto Rico Housing Finance Authority, Capital Fund Program Revenue Bonds, Series 2003,
|
12/16 at 100.00
|
AA–
|
1,064,270
|
|
|
5.000%, 12/01/20
|
|
|
|
|
15,000
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Series 2007A, 0.000%,
|
No Opt. Call
|
Caa3
|
1,447,200
|
|
|
8/01/54 – AMBAC Insured
|
|
|
|
|
16,035
|
Total Puerto Rico
|
|
|
2,511,470
|
|
|
South Dakota – 0.3%
|
|
|
|
|
600
|
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health,
|
11/25 at 100.00
|
A+
|
723,360
|
|
|
Series 2015, 5.000%, 11/01/35
|
|
|
|
|
|
Texas – 11.1%
|
|
|
|
|
250
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011,
|
1/21 at 100.00
|
BBB+ (4)
|
305,458
|
|
|
6.000%, 1/01/41 (Pre-refunded 1/01/21)
|
|
|
|
|
240
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A,
|
7/25 at 100.00
|
BBB+
|
290,254
|
|
|
5.000%, 1/01/35
|
|
|
|
|
3,000
|
Fort Worth Independent School District, Tarrant County, Texas, General Obligation Bonds,
|
No Opt. Call
|
AAA
|
3,018,150
|
|
|
Refunding Series 2006, 5.000%, 2/15/18
|
|
|
|
|
5,560
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
|
10/23 at 100.00
|
BBB+
|
6,526,937
|
|
|
2013A, 5.500%, 4/01/53
|
|
|
|
|
1,160
|
Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston
|
6/25 at 100.00
|
AA
|
1,397,754
|
|
|
Methodist Hospital System, Series 2015, 5.000%, 12/01/45
|
|
|
|
|
675
|
Harris County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Texas
|
No Opt. Call
|
AA– (4)
|
683,019
|
|
|
Children’s Hospital, Series 1995, 5.500%, 10/01/16 – NPFG Insured (ETM)
|
|
|
|
|
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
|
|
|
|
|
630
|
0.000%, 11/15/24 – NPFG Insured
|
No Opt. Call
|
AA–
|
486,108
|
|
12,480
|
0.000%, 11/15/41 – NPFG Insured
|
11/31 at 53.78
|
AA–
|
3,779,568
|
|
975
|
Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2007B, 5.000%,
|
7/17 at 100.00
|
AA–
|
1,016,925
|
|
|
7/01/25 – NPFG Insured
|
|
|
|
|
575
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
No Opt. Call
|
A2
|
457,229
|
|
|
Project, Series 2001B, 0.000%, 9/01/24 – AMBAC Insured
|
|
|
|
|
200
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/17 at 24.20
|
AAA
|
47,646
|
|
|
Bonds, Series 2008, 0.000%, 8/15/41
|
|
|
|
|
4,800
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/17 at 24.20
|
N/R (4)
|
1,148,448
|
|
|
Bonds, Series 2008, 0.000%, 8/15/41 (Pre-refunded 8/15/17)
|
|
|
|
|
2,255
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
|
11/20 at 100.00
|
Baa1
|
2,580,802
|
|
|
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
|
|
|
|
|
1,025
|
North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2015B,
|
1/23 at 100.00
|
A1
|
1,214,379
|
|
|
5.000%, 1/01/40
|
|
|
|
|
200
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
|
5/26 at 100.00
|
AA–
|
222,400
|
|
|
Bonds, Scott & White Healthcare Project, Series 2016A, 4.000%, 11/15/42
|
|
|
|
|
5,000
|
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series
|
No Opt. Call
|
A3
|
5,891,249
|
|
|
2012, 5.000%, 12/15/26
|
|
|
|
|
2,000
|
Wylie Independent School District, Collin County, Texas, General Obligation Bonds, School
|
No Opt. Call
|
AAA
|
1,073,980
|
|
|
Building Series 2010, 0.000%, 8/15/31
|
|
|
|
|
41,025
|
Total Texas
|
|
|
30,140,306
|
|
|
Utah – 0.8%
|
|
|
|
|
5,465
|
Utah Transit Authority, Sales Tax Revenue Bonds, Series 2007A, 0.000%, 6/15/36
|
6/17 at 38.77
|
AA–
|
2,100,527
|
|
|
Virginia – 2.2%
|
|
|
|
|
1,500
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Second Senior Lien
|
10/26 at 100.00
|
AA
|
2,051,940
|
|
|
Revenue Bonds, Series 2009C, 0.000%, 10/01/41 – AGC Insured
|
|
|
|
|
|
Virginia Small Business Financing Authority, Senior Lien Revenue Bonds, Elizabeth River
|
|
|
|
|
|
Crossing, Opco LLC Project, Series 2012:
|
|
|
|
|
1,000
|
5.250%, 1/01/32 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB
|
1,154,210
|
|
500
|
6.000%, 1/01/37 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB
|
601,000
|
|
1,010
|
5.500%, 1/01/42 (Alternative Minimum Tax)
|
7/22 at 100.00
|
BBB
|
1,176,084
|
|
1,000
|
Virginia Small Business Financing Authority, Wellmont Health System Project Revenue Bonds,
|
9/17 at 100.00
|
BBB+
|
1,039,660
|
|
|
Series 2007A, 5.250%, 9/01/37
|
|
|
|
|
5,010
|
Total Virginia
|
|
|
6,022,894
|
|
|
Washington – 3.2%
|
|
|
|
|
4,000
|
Washington Health Care Facilities Authority, Revenue Bonds, Catholic Health Initiative, Series
|
1/23 at 100.00
|
A+
|
4,887,200
|
|
|
2013A, 5.750%, 1/01/45
|
|
|
|
|
990
|
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research
|
1/21 at 100.00
|
A
|
1,131,639
|
|
|
Center, Series 2011A, 5.625%, 1/01/35
|
|
|
|
|
2,500
|
Washington State, General Obligation Motor Vehicle Fuel Tax Bonds, Series 2008D, 5.000%,
|
1/18 at 100.00
|
AA+ (4)
|
2,663,725
|
|
|
1/01/33 (Pre-refunded 1/01/18)
|
|
|
|
|
7,490
|
Total Washington
|
|
|
8,682,564
|
|
|
Wisconsin – 2.5%
|
|
|
|
|
2,000
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Gundersen Lutheran,
|
10/21 at 100.00
|
A+
|
2,329,160
|
|
|
Series 2011A, 5.250%, 10/15/39
|
|
|
|
|
1,645
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc.,
|
6/22 at 100.00
|
A3
|
1,874,313
|
|
|
Series 2012, 5.000%, 6/01/39
|
|
|
|
|
1,500
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Wheaton Franciscan
|
8/16 at 100.00
|
N/R (4)
|
1,508,715
|
|
|
Healthcare System, Series 2006A, 5.250%, 8/15/31 (Pre-refunded 8/15/16)
|
|
|
|
|
1,000
|
Wisconsin State, General Fund Annual Appropriation Revenue Bonds, Refunding Series 2009A,
|
5/19 at 100.00
|
AA–
|
1,139,969
|
|
|
6.000%, 5/01/36
|
|
|
|
|
6,145
|
Total Wisconsin
|
|
|
6,852,157
|
|
$ 317,680
|
Total Municipal Bonds (cost $232,247,389)
|
|
|
267,921,202
|
Principal
|
|
|
|
|
|
|
Amount (000)
|
Description (1)
|
Coupon
|
Maturity
|
Ratings (3)
|
Value
|
|
|
CORPORATE BONDS – 0.0%
|
|
|
|
|
|
|
Transportation – 0.0%
|
|
|
|
|
|
$ 328
|
Las Vegas Monorail Company, Senior Interest Bonds (7), (8)
|
5.500%
|
7/15/19
|
N/R
|
$ 9,848
|
|
88
|
Las Vegas Monorail Company, Senior Interest Bonds (7), (8)
|
5.500%
|
7/15/55
|
N/R
|
2,620
|
|
$ 416
|
Total Corporate Bonds (cost $37,260)
|
|
|
|
12,468
|
|
|
Total Long-Term Investments (cost $232,284,649)
|
|
|
|
267,933,670
|
|
|
Other Assets Less Liabilities – 1.3%
|
|
|
|
3,557,533
|
|
|
Net Assets – 100.0%
|
|
|
|
$ 271,491,203
|
|
Level 1
|
Level 2
|
Level 3
|
Total
|
Long-Term Investments:
|
|
|
|
|
Municipal Bonds
|
$ —
|
$267,921,202
|
$ —
|
$267,921,202
|
Corporate Bonds
|
—
|
—
|
12,468
|
12,468
|
Total
|
$ —
|
$267,921,202
|
$12,468
|
$267,933,670
|
Gross unrealized:
|
|
Appreciation
|
$36,992,516
|
Depreciation
|
(176,450)
|
Net unrealized appreciation (depreciation) of investments
|
$36,816,066
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets.
|
|
(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)
|
For financial reporting purposes, the ratings disclosed are 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)
|
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.
|
|
(5)
|
Step-up coupon. The rate shown is the coupon as of the end of the reporting period.
|
|
(6)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
|
|
|
investments in inverse floating rate transactions.
|
|
(7)
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the
|
|
|
Board. For fair value measurement disclosure purposes, investment classified as Level 3.
|
(8)
|
During January 2010, Las Vegas Monorail Company (“Las Vegas Monorail”) filed for federal bankruptcy
|
|
|
protection. During March 2012, Las Vegas Monorail emerged from federal bankruptcy with the acceptance
|
|
|
of a reorganization plan assigned by the Federal Bankruptcy Court. Under the reorganization plan, the
|
|
|
Fund surrendered its Las Vegas Monorail Project Revenue Bonds, First Tier, Series 2000 and in turn
|
|
|
received two senior interest corporate bonds: the first with an annual coupon rate of 5.500% maturing
|
|
|
on July 15, 2019 and the second with an annual coupon rate of 3.000% (5.500% after December 31, 2015)
|
|
|
maturing on July 15, 2055. The Fund is not accruing income for either senior interest corporate bond.
|
|
(WI/DD)
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
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.
|
By (Signature and Title) | /s/ Kevin J. McCarthy |
Kevin J. McCarthy
Vice President and Secretary
|
By (Signature and Title) | /s/ Gifford R. Zimmerman |
Gifford R. Zimmerman
Chief Administrative Officer (principal executive officer)
|
By (Signature and Title) | /s/ Stephen D. Foy |
Stephen D. Foy
Vice President and Controller (principal financial officer)
|