Portfolio of Investments
|
|||||
Nuveen Dividend Advantage Municipal Fund 3 (NZF)
|
|||||
January 31, 2016 (Unaudited)
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
LONG-TERM INVESTMENTS – 144.0% (100.0% of Total Investments)
|
|||||
MUNICIPAL BONDS – 143.4% (99.6% of Total Investments)
|
|||||
Alabama – 1.0% (0.7% of Total Investments)
|
|||||
$ 2,365
|
Alabama Private Colleges and University Facilities Authority, Limited Obligation Bonds,
|
9/25 at 100.00
|
N/R
|
$ 2,423,723
|
|
University of Mobile Project, Series 2015A, 6.000%, 9/01/45
|
|||||
3,500
|
Alabama Special Care Facilities Financing Authority, Revenue Bonds, Ascension Health, Series
|
11/16 at 100.00
|
AA+
|
3,619,000
|
|
2006C-2, 5.000%, 11/15/36 (UB)
|
|||||
5,865
|
Total Alabama
|
6,042,723
|
|||
Alaska – 0.2% (0.1% of Total Investments)
|
|||||
1,130
|
Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds,
|
4/16 at 100.00
|
B
|
961,800
|
|
Series 2006A, 5.000%, 6/01/46
|
|||||
Arizona – 1.9% (1.3% of Total Investments)
|
|||||
2,060
|
Arizona Health Facilities Authority, Revenue Bonds, Scottsdale Lincoln Hospitals Project,
|
12/24 at 100.00
|
A2
|
2,335,793
|
|
Series 2014A, 5.000%, 12/01/42
|
|||||
3,390
|
Arizona State Transportation Board, Highway Revenue Bonds, Tender Option Bond Trust 3151,
|
7/18 at 100.00
|
AAA
|
4,409,475
|
|
13.598%, 7/01/16 (IF)
|
|||||
1,510
|
Eastmark Community Facilities District 1, Mesa, Arizona, General Obligation Bonds, Series
|
7/25 at 100.00
|
N/R
|
1,546,753
|
|
2015, 5.000%, 7/15/39
|
|||||
325
|
Pima County Industrial Development Authority, Arizona, Education Revenue Bonds, Paradise
|
6/19 at 100.00
|
BB+
|
337,360
|
|
Education Center Project, Series 2010, 6.100%, 6/01/45
|
|||||
1,880
|
Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc
|
No Opt. Call
|
BBB+
|
2,262,824
|
|
Prepay Contract Obligations, Series 2007, 5.000%, 12/01/37
|
|||||
9,165
|
Total Arizona
|
10,892,205
|
|||
California – 14.2% (9.9% of Total Investments)
|
|||||
950
|
Blythe Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Redevelopment
|
11/25 at 100.00
|
N/R
|
1,027,929
|
|
Project 1, Refunding Series 2015, 5.000%, 5/01/38
|
|||||
10,000
|
California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los
|
12/18 at 100.00
|
B2
|
10,009,500
|
|
Angeles County Securitization Corporation, Series 2006A, 5.650%, 6/01/41
|
|||||
3,400
|
California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services,
|
10/19 at 100.00
|
AA
|
3,888,002
|
|
Series 2009B, 5.500%, 10/01/39
|
|||||
2,900
|
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Series 2007A,
|
11/16 at 100.00
|
AA–
|
2,991,292
|
|
5.000%, 11/15/42 (UB)
|
|||||
5,355
|
California Health Facilities Financing Authority, Revenue Bonds, Sutter Health, Tender Option
|
5/18 at 100.00
|
AA–
|
7,729,032
|
|
Bond Trust 2015-XF0078, 13.657%, 5/15/40 (IF)
|
|||||
415
|
California Municipal Finance Authority, Charter School Lease Revenue Bonds, Santa Rosa Academy
|
7/25 at 100.00
|
BB
|
435,630
|
|
Project, Series 2015, 5.375%, 7/01/45
|
|||||
20
|
California, General Obligation Veterans Welfare Bonds, Series 2001BZ, 5.350%, 12/01/21 – NPFG
|
6/16 at 100.00
|
AA
|
20,064
|
|
Insured (Alternative Minimum Tax)
|
|||||
660
|
Davis, California, Special Tax Bonds, Community Facilities District 2015-1 Series 2015,
|
9/25 at 100.00
|
N/R
|
709,573
|
|
5.000%, 9/01/40
|
|||||
3,725
|
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,
|
No Opt. Call
|
AA
|
1,864,363
|
|
Refunding Senior Lien Series 2015A, 0.000%, 1/15/34 – AGM Insured
|
|||||
Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds,
|
|||||
Refunding Series 2013A:
|
|||||
1,560
|
5.750%, 1/15/46
|
1/24 at 100.00
|
BBB–
|
1,830,426
|
|
1,560
|
6.000%, 1/15/49
|
1/24 at 100.00
|
BBB–
|
1,851,564
|
|
1,250
|
Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed
|
6/17 at 100.00
|
B
|
1,167,638
|
|
Bonds, Series 2007A-1, 5.000%, 6/01/33
|
|||||
7,150
|
Grossmont Healthcare District, California, General Obligation Bonds, Series 2011B, 6.125%,
|
7/21 at 100.00
|
Aaa
|
9,079,857
|
|
7/15/40 (Pre-refunded 7/15/21)
|
|||||
14,000
|
Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed
|
6/17 at 13.65
|
B–
|
1,174,880
|
|
Bonds, Series 2007C-2, 0.000%, 6/01/47
|
|||||
10,600
|
Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed
|
6/17 at 28.99
|
B–
|
2,309,210
|
|
Bonds, Series 2007, 0.000%, 6/01/36
|
|||||
2,750
|
Los Angeles Regional Airports Improvement Corporation, California, Lease Revenue Refunding
|
1/22 at 100.00
|
A
|
3,060,585
|
|
Bonds, LAXFUEL Corporation at Los Angeles International Airport, Series 2012, 4.500%, 1/01/27
|
|||||
(Alternative Minimum Tax)
|
|||||
2,710
|
M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series
|
No Opt. Call
|
A
|
3,913,186
|
|
2009B, 6.500%, 11/01/39
|
|||||
12,210
|
Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital
|
8/30 at 100.00
|
A+
|
12,575,687
|
|
Appreciation, Election 2004 Series 2010A, 0.000%, 8/01/40
|
|||||
3,850
|
Placentia-Yorba Linda Unified School District, Orange County, California, Certificates of
|
10/25 at 100.00
|
AA
|
4,387,691
|
|
Participation, Refunding Series 2011, 0.000%, 10/01/28 – AGM Insured
|
|||||
205
|
Riverside County Transportation Commission, California, Toll Revenue Senior Lien Bonds, Series
|
6/23 at 100.00
|
BBB–
|
237,488
|
|
2013A, 5.750%, 6/01/44
|
|||||
3,550
|
San Buenaventura, California, Revenue Bonds, Community Memorial Health System, Series 2011,
|
12/21 at 100.00
|
BB+
|
4,370,725
|
|
7.500%, 12/01/41
|
|||||
165
|
San Clemente, California, Special Tax Revenue Bonds, Community Facilities District 2006-1
|
9/25 at 100.00
|
N/R
|
186,780
|
|
Marblehead Coastal, Series 2015, 5.000%, 9/01/40
|
|||||
3,000
|
San Diego Community College District, California, General Obligation Bonds, Tender Option Bond
|
8/21 at 100.00
|
AA+
|
4,494,180
|
|
Trust 1005, 13.666%, 8/01/41 (IF) (5)
|
|||||
San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue
|
|||||
Bonds, Refunding Senior Lien Series 2014A:
|
|||||
1,025
|
5.000%, 1/15/44
|
1/25 at 100.00
|
BBB–
|
1,130,760
|
|
3,160
|
5.000%, 1/15/50
|
1/25 at 100.00
|
BBB–
|
3,458,241
|
|
96,170
|
Total California
|
83,904,283
|
|||
Colorado – 4.3% (3.0% of Total Investments)
|
|||||
2,485
|
Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Montessori Peaks
|
5/16 at 102.00
|
N/R
|
2,489,796
|
|
Academy, Series 2006A, 5.400%, 5/01/26
|
|||||
5,000
|
Compark Business Campus Metropolitan District, Colorado, General Obligation Limited Tax Bonds,
|
12/17 at 100.00
|
AA
|
5,125,200
|
|
Series 2007A, 5.600%, 12/01/34 – RAAI Insured
|
|||||
500
|
Copperleaf Metropolitan District 2, Colorado, General Obligation Limited Tax Bonds, Series
|
12/20 at 103.00
|
N/R
|
525,065
|
|
2006, 5.250%, 12/01/30
|
|||||
Denver, Colorado, Airport System Revenue Bonds, Series 2006:
|
|||||
5,365
|
5.000%, 11/15/23 – FGIC Insured
|
11/16 at 100.00
|
AA–
|
5,561,949
|
|
3,300
|
5.000%, 11/15/24 – FGIC Insured
|
11/16 at 100.00
|
AA–
|
3,420,087
|
|
4,335
|
5.000%, 11/15/25 – FGIC Insured
|
11/16 at 100.00
|
AA–
|
4,491,060
|
|
Maher Ranch Metropolitan District 4, Colorado, General Obligation Limited Tax Bonds, Series 2007:
|
|||||
950
|
5.125%, 12/01/27 – RAAI Insured
|
12/17 at 100.00
|
AA
|
976,192
|
|
2,000
|
5.250%, 12/01/36 – RAAI Insured
|
12/17 at 100.00
|
AA
|
2,051,800
|
|
630
|
Regional Transportation District, Colorado, Certificates of Participation, Series 2010A,
|
6/20 at 100.00
|
Aa3
|
724,437
|
|
5.375%, 6/01/31
|
|||||
24,565
|
Total Colorado
|
25,365,586
|
|||
Connecticut – 0.3% (0.2% of Total Investments)
|
|||||
1,500
|
Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare,
|
7/21 at 100.00
|
A
|
1,658,160
|
|
Series 2011A, 5.000%, 7/01/41
|
|||||
District of Columbia – 2.0% (1.4% of Total Investments)
|
|||||
10,000
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds,
|
10/16 at 100.00
|
AA+
|
10,232,100
|
|
Senior Lien Refunding Series 2007A, 4.500%, 10/01/30 – AMBAC Insured
|
|||||
1,335
|
Washington Convention Center Authority, District of Columbia, Dedicated Tax Revenue Bonds,
|
10/16 at 100.00
|
AA+
|
1,427,943
|
|
Tender Option Bond Trust 1606, 11.876%, 10/01/30 – BHAC Insured (IF) (5)
|
|||||
11,335
|
Total District of Columbia
|
11,660,043
|
|||
Florida – 4.8% (3.3% of Total Investments)
|
|||||
1,715
|
Broward County, Florida, Airport Facility Revenue Bonds, Learjet Inc., Series 2000, 7.500%,
|
11/16 at 100.00
|
B2
|
1,727,074
|
|
11/01/20 (Alternative Minimum Tax)
|
|||||
5,005
|
Broward County, Florida, Airport System Revenue Bonds, Refunding Series 2009O, 5.375%, 10/01/29
|
10/19 at 100.00
|
A+
|
5,719,914
|
|
2,065
|
Capital Trust Agency, Florida, Multifamily Housing Revenue Bonds, The Gardens Apartments
|
7/25 at 100.00
|
A
|
2,122,737
|
|
Project, Series 2015A, 5.000%, 7/04/50
|
|||||
Downtown Doral Community Development District, Florida, Special Assessment Bonds, Series 2015:
|
|||||
275
|
5.250%, 5/01/35
|
5/26 at 100.00
|
N/R
|
282,442
|
|
305
|
5.300%, 5/01/36
|
5/26 at 100.00
|
N/R
|
313,479
|
|
480
|
5.500%, 5/01/45
|
5/26 at 100.00
|
N/R
|
493,214
|
|
655
|
5.500%, 5/01/46
|
5/26 at 100.00
|
N/R
|
671,984
|
|
Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance
|
|||||
Charter School Income Projects, Series 2015A:
|
|||||
300
|
6.125%, 6/15/46
|
6/25 at 100.00
|
N/R
|
304,446
|
|
900
|
6.000%, 6/15/35
|
6/25 at 100.00
|
N/R
|
923,274
|
|
4,695
|
Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport,
|
10/24 at 100.00
|
A–
|
5,266,147
|
|
Series 2015A, 5.000%, 10/01/44
|
|||||
2,490
|
Miami-Dade County, Florida, Subordinate Special Obligation Bonds, Refunding Series 2012B,
|
10/22 at 100.00
|
A+
|
2,858,744
|
|
5.000%, 10/01/37
|
|||||
1,020
|
Northern Palm Beach County Improvement District, Florida, Water Control and Improvement Bonds,
|
8/26 at 100.00
|
N/R
|
1,033,913
|
|
Development Unit 53, Series 2015, 5.350%, 8/01/35
|
|||||
85
|
Palm Beach County Health Facilities Authority, Florida, Revenue Bonds, Sinai Residences of
|
6/22 at 102.00
|
N/R
|
102,362
|
|
Boca Raton Project, Series 2014A, 7.250%, 6/01/34
|
|||||
5,455
|
South Miami Health Facilities Authority, Florida, Hospital Revenue, Baptist Health System
|
8/17 at 100.00
|
AA
|
5,686,456
|
|
Obligation Group, Series 2007, 5.000%, 8/15/42 (UB) (5)
|
|||||
70
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible,
|
5/17 at 100.00
|
N/R
|
56,170
|
|
Capital Appreciation, Series 2012A-2, 0.000%, 5/01/39
|
|||||
200
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible,
|
5/19 at 100.00
|
N/R
|
120,034
|
|
Capital Appreciation, Series 2012A-3, 0.000%, 5/01/40
|
|||||
85
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Convertible,
|
5/22 at 100.00
|
N/R
|
37,810
|
|
Capital Appreciation, Series 2012A-4, 0.000%, 5/01/40
|
|||||
110
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Hope Note, Series
|
5/18 at 100.00
|
N/R
|
1
|
|
2007-3, 6.650%, 5/01/40 (6)
|
|||||
10
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Non Performing
|
5/18 at 100.00
|
N/R
|
10,230
|
|
ParcelSeries 2007-1. RMKT, 6.650%, 5/01/40 (6)
|
|||||
200
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series
|
5/17 at 100.00
|
N/R
|
202,722
|
|
2012A-1, 6.650%, 5/01/40
|
|||||
295
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series
|
5/18 at 100.00
|
N/R
|
182,576
|
|
2015-1, 0.000%, 5/01/40 (6)
|
|||||
180
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series
|
5/18 at 100.00
|
N/R
|
94,277
|
|
2015-2, 0.000%, 5/01/40 (6)
|
|||||
195
|
Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series
|
5/18 at 100.00
|
N/R
|
2
|
|
2015-3, 6.610%, 5/01/40 (6)
|
|||||
26,790
|
Total Florida
|
28,210,008
|
|||
Georgia – 4.1% (2.8% of Total Investments)
|
|||||
15,295
|
Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2010C, 5.250%, 1/01/30
|
1/21 at 100.00
|
Aa3
|
17,668,319
|
|
2,000
|
Fulton County Residential Care Facilities Elderly Authority, Georgia, First Mortgage Revenue
|
7/17 at 100.00
|
N/R
|
2,014,700
|
|
Bonds, Lenbrook Project, Series 2006A, 5.125%, 7/01/42
|
|||||
4,010
|
Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4 Project J Bonds, Series 2015A,
|
7/25 at 100.00
|
A+
|
4,449,536
|
|
5.000%, 7/01/60
|
|||||
21,305
|
Total Georgia
|
24,132,555
|
|||
Guam – 0.2% (0.1% of Total Investments)
|
|||||
810
|
Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2013,
|
7/23 at 100.00
|
A–
|
924,153
|
|
5.500%, 7/01/43
|
|||||
Illinois – 14.4% (10.0% of Total Investments)
|
|||||
3,200
|
Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Series 2011,
|
12/21 at 100.00
|
AA
|
3,502,112
|
|
5.250%, 12/01/40
|
|||||
1,195
|
Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, 5.000%, 1/01/38
|
1/26 at 100.00
|
BBB+
|
1,147,296
|
|
1,500
|
Chicago, Illinois, General Obligation Bonds, Series 2015A, 5.500%, 1/01/39
|
1/25 at 100.00
|
BBB+
|
1,515,735
|
|
5,630
|
Chicago, Illinois, Sales Tax Revenue Bonds, Series 2011A, 5.250%, 1/01/38
|
No Opt. Call
|
AA
|
6,037,499
|
|
11,175
|
Cook County, Illinois, General Obligation Bonds, Refunding Series 2010A, 5.250%, 11/15/33
|
11/20 at 100.00
|
AA
|
12,030,670
|
|
Illinois Finance Authority, Charter School Revenue Bonds, Uno Charter School Network,
|
|||||
Refunding and Improvement Series 2011A:
|
|||||
825
|
6.875%, 10/01/31
|
10/21 at 100.00
|
BBB–
|
905,792
|
|
1,050
|
7.125%, 10/01/41
|
10/21 at 100.00
|
BBB–
|
1,158,045
|
|
1,000
|
Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2012,
|
No Opt. Call
|
AA
|
1,112,190
|
|
5.000%, 6/01/42
|
|||||
3,630
|
Illinois Finance Authority, Revenue Bonds, Sherman Health Systems, Series 2007A, 5.500%,
|
8/17 at 100.00
|
N/R (4)
|
3,895,970
|
|
8/01/37 (Pre-refunded 8/01/17)
|
|||||
4,125
|
Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2012A, 5.000%, 10/01/51
|
10/21 at 100.00
|
AA+
|
4,530,735
|
|
Illinois State, General Obligation Bonds, February Series 2014:
|
|||||
1,600
|
5.250%, 2/01/32
|
2/24 at 100.00
|
A–
|
1,747,312
|
|
1,000
|
5.250%, 2/01/33
|
2/24 at 100.00
|
A–
|
1,089,200
|
|
1,130
|
5.250%, 2/01/34
|
2/24 at 100.00
|
A–
|
1,226,751
|
|
1,000
|
5.000%, 2/01/39
|
2/24 at 100.00
|
A–
|
1,053,910
|
|
6,000
|
Illinois State, General Obligation Bonds, Series 2004A, 5.000%, 3/01/28
|
4/16 at 100.00
|
A–
|
6,023,460
|
|
560
|
Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Tender Option Bond Trust
|
No Opt. Call
|
AA–
|
838,292
|
|
2015-XF0051, 17.999%, 1/01/21 (IF)
|
|||||
7,000
|
Lombard Public Facilities Corporation, Illinois, First Tier Conference Center and Hotel
|
4/16 at 100.00
|
N/R
|
3,282,930
|
|
Revenue Bonds, Series 2005A-1, 7.125%, 1/01/36 (7)
|
|||||
2,565
|
Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds,
|
12/25 at 100.00
|
BBB+
|
2,720,721
|
|
Refunding Series 2015B, 5.000%, 6/15/52
|
|||||
585
|
Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds,
|
12/25 at 100.00
|
BBB+
|
620,498
|
|
Series 2015A, 5.000%, 6/15/53
|
|||||
12,000
|
Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project
|
6/20 at 100.00
|
BBB+
|
12,860,037
|
|
Refunding Bonds, Series 2010A, 5.500%, 6/15/50
|
|||||
45,000
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
|
No Opt. Call
|
AA
|
13,042,797
|
|
Project, Capital Appreciation Refunding Series 2010B-1, 0.000%, 6/15/43 – AGM Insured
|
|||||
2,680
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
|
No Opt. Call
|
AA–
|
3,282,705
|
|
Project, Refunding Series 1998A, 5.500%, 6/15/29 – NPFG Insured
|
|||||
145
|
Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion
|
No Opt. Call
|
AA– (4)
|
189,167
|
|
Project, Refunding Series 1998A, 5.500%, 6/15/29 – NPFG Insured (ETM)
|
|||||
1,915
|
Southwestern Illinois Development Authority, Environmental Improvement Revenue Bonds, US Steel
|
8/22 at 100.00
|
B+
|
1,116,158
|
|
Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)
|
|||||
116,510
|
Total Illinois
|
84,929,982
|
|||
Indiana – 9.4% (6.5% of Total Investments)
|
|||||
630
|
Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel
|
No Opt. Call
|
B+
|
367,196
|
|
Corporation Project, Series 2012, 5.750%, 8/01/42 (Alternative Minimum Tax)
|
|||||
9,300
|
Indiana Finance Authority, Hospital Revenue Bonds, Major Hospital Project, Series 2014A,
|
10/23 at 100.00
|
BBB+
|
10,175,409
|
|
5.000%, 10/01/44
|
|||||
5,370
|
Indiana Finance Authority, Private Activity Bonds, Ohio River Bridges East End Crossing
|
7/23 at 100.00
|
BBB+
|
5,872,954
|
|
Project, Series 2013A, 5.250%, 1/01/51 (Alternative Minimum Tax)
|
|||||
Indiana Finance Authority, Tax-Exempt Private Activity Revenue Bonds, I-69 Section 5 Project,
|
|||||
Series 2014:
|
|||||
2,680
|
5.250%, 9/01/40 (Alternative Minimum Tax)
|
9/24 at 100.00
|
BBB
|
2,962,418
|
|
7,000
|
5.000%, 9/01/46 (Alternative Minimum Tax)
|
9/24 at 100.00
|
BBB
|
7,626,500
|
|
6,700
|
Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series
|
10/21 at 100.00
|
AA–
|
7,456,698
|
|
2011B, 5.000%, 10/01/41
|
|||||
13,000
|
Indiana Finance Authority, Water Utility Revenue Bonds, Citizens Energy Group Project, First
|
10/24 at 100.00
|
A+
|
14,685,707
|
|
Lien Series 2014A, 5.000%, 10/01/44
|
|||||
830
|
Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2013,
|
1/24 at 100.00
|
N/R
|
1,026,204
|
|
7.000%, 1/01/44 (Alternative Minimum Tax)
|
|||||
Vigo County Hospital Authority, Indiana, Revenue Bonds, Union Hospital, Series 2007:
|
|||||
2,500
|
5.750%, 9/01/42
|
9/17 at 100.00
|
N/R
|
2,590,425
|
|
2,500
|
5.800%, 9/01/47
|
9/17 at 100.00
|
N/R
|
2,590,375
|
|
50,510
|
Total Indiana
|
55,353,886
|
|||
Iowa – 0.3% (0.2% of Total Investments)
|
|||||
Iowa Tobacco Settlement Authority, Asset Backed Settlement Revenue Bonds, Series 2005C:
|
|||||
525
|
5.500%, 6/01/42
|
4/16 at 100.00
|
B+
|
509,891
|
|
1,000
|
5.625%, 6/01/46
|
4/16 at 100.00
|
B+
|
999,900
|
|
1,525
|
Total Iowa
|
1,509,791
|
|||
Kansas – 0.8% (0.6% of Total Investments)
|
|||||
Manhattan Health Care Facility Revenue Bonds, Kansas, Meadowlarks Hills Retirement,
|
|||||
Series 2007B:
|
|||||
1,000
|
5.125%, 5/15/37
|
5/16 at 101.00
|
N/R
|
1,007,420
|
|
1,000
|
5.125%, 5/15/42
|
5/16 at 101.00
|
N/R
|
1,006,800
|
|
Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds,
|
|||||
Vacation Village Project Area 1 and 2A, Series 2015:
|
|||||
1,840
|
5.750%, 9/01/32
|
9/25 at 100.00
|
N/R
|
1,868,502
|
|
875
|
6.000%, 9/01/35
|
9/25 at 100.00
|
N/R
|
887,311
|
|
4,715
|
Total Kansas
|
4,770,033
|
|||
Kentucky – 3.7% (2.5% of Total Investments)
|
|||||
Kentucky Economic Development Finance Authority, Kentucky, Healthcare Revenue Bonds, Rosedale
|
|||||
Green Project, Refunding Series 2015:
|
|||||
245
|
5.750%, 11/15/45
|
11/25 at 100.00
|
N/R
|
253,034
|
|
1,070
|
5.750%, 11/15/50
|
11/25 at 100.00
|
N/R
|
1,091,978
|
|
1,100
|
Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds,
|
6/18 at 100.00
|
AA
|
1,195,865
|
|
Louisville Arena Authority, Inc., Series 2008-A1, 6.000%, 12/01/42 – AGC Insured
|
|||||
Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky
|
|||||
Information Highway Project, Senior Series 2015A:
|
|||||
2,130
|
5.000%, 7/01/40
|
7/25 at 100.00
|
BBB+
|
2,342,276
|
|
2,940
|
5.000%, 1/01/45
|
7/25 at 100.00
|
BBB+
|
3,230,531
|
|
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
|
|||||
Downtown Crossing Project, Convertible Capital Appreciation Series 2013C:
|
|||||
1,335
|
0.000%, 7/01/43
|
7/31 at 100.00
|
Baa3
|
1,011,690
|
|
2,295
|
0.000%, 7/01/46
|
7/31 at 100.00
|
Baa3
|
1,737,889
|
|
Kentucky Public Transportation Infrastructure Authority, First Tier Toll Revenue Bonds,
|
|||||
Downtown Crossing Project, Series 2013A:
|
|||||
3,080
|
5.750%, 7/01/49
|
7/23 at 100.00
|
Baa3
|
3,512,155
|
|
615
|
6.000%, 7/01/53
|
7/23 at 100.00
|
Baa3
|
712,029
|
|
5,400
|
Lexington-Fayette Urban County Government Public Facilities Corporation, Kentucky State Lease
|
6/21 at 100.00
|
Aa3
|
6,231,060
|
|
Revenue Bonds, Eastern State Hospital Project, Series 2011A, 5.250%, 6/01/29
|
|||||
215
|
Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community
|
10/22 at 100.00
|
A+
|
228,106
|
|
Hospital Corporation, Series 2012A, 4.000%, 10/01/29
|
|||||
20,425
|
Total Kentucky
|
21,546,613
|
|||
Louisiana – 4.4% (3.0% of Total Investments)
|
|||||
2,000
|
Jefferson Parish Hospital Service District 2, Louisiana, Hospital Revenue Bonds, East Jefferson
|
7/21 at 100.00
|
BB
|
2,293,260
|
|
General Hospital, Refunding Series 2011, 6.375%, 7/01/41
|
|||||
3,000
|
Louisiana Local Government Environmental Facilities & Community Development Authority, Revenue
|
11/17 at 100.00
|
BBB+
|
3,246,660
|
|
Bonds, Westlake Chemical Corporation Project, Series 2007, 6.750%, 11/01/32
|
|||||
2,680
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,
|
5/17 at 100.00
|
Baa1
|
2,801,565
|
|
Series 2007A, 5.500%, 5/15/47
|
|||||
1,020
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,
|
5/17 at 100.00
|
N/R (4)
|
1,085,076
|
|
Series 2007A, 5.500%, 5/15/47 (Pre-refunded 5/15/17)
|
|||||
4,425
|
Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project,
|
5/21 at 100.00
|
Baa1
|
5,339,780
|
|
Series 2011, 6.750%, 5/15/41
|
|||||
2,235
|
Louisiana Stadium and Exposition District, Revenue Refunding Bonds, Senior Lien Series 2013A,
|
7/23 at 100.00
|
A
|
2,528,813
|
|
5.000%, 7/01/36
|
|||||
5,100
|
New Orleans Aviation Board, Louisiana, Revenue Bonds, North Terminal Project, Series 2015B,
|
1/25 at 100.00
|
A–
|
5,640,600
|
|
5.000%, 1/01/45 (Alternative Minimum Tax)
|
|||||
2,560
|
New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014, 5.000%, 6/01/44
|
6/24 at 100.00
|
A
|
2,863,002
|
|
23,020
|
Total Louisiana
|
25,798,756
|
|||
Maryland – 0.5% (0.3% of Total Investments)
|
|||||
1,000
|
Howard County, Maryland, Retirement Community Revenue Bonds, Vantage House, Series 2007B,
|
4/17 at 100.00
|
N/R
|
1,008,230
|
|
5.250%, 4/01/37
|
|||||
2,000
|
Maryland Economic Development Corporation, Revenue Bonds, Chesapeake Bay Hyatt Conference
|
12/16 at 100.00
|
N/R
|
1,194,780
|
|
Center, Series 2006A, 5.000%, 12/01/31 (6)
|
|||||
555
|
Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Ridge
|
7/17 at 100.00
|
A–
|
565,961
|
|
Retirement Community, Series 2007, 4.750%, 7/01/34
|
|||||
3,555
|
Total Maryland
|
2,768,971
|
|||
Massachusetts – 3.8% (2.7% of Total Investments)
|
|||||
475
|
Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Green
|
No Opt. Call
|
BBB
|
529,939
|
|
Bonds, Series 2015D, 5.000%, 7/01/44
|
|||||
1,525
|
Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2015,
|
1/25 at 100.00
|
BBB+
|
1,596,858
|
|
4.500%, 1/01/45
|
|||||
1,375
|
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007,
|
4/16 at 101.00
|
N/R
|
1,390,180
|
|
5.250%, 10/01/26
|
|||||
1,600
|
Massachusetts Health and Educational Facilities Authority, Revenue Refunding Bonds, Suffolk
|
7/19 at 100.00
|
BBB
|
1,792,992
|
|
University Issue, Series 2009A, 5.750%, 7/01/39
|
|||||
400
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, ConRac Project, Series 2011A,
|
7/21 at 100.00
|
A
|
442,024
|
|
5.125%, 7/01/41
|
|||||
5,000
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series
|
7/16 at 100.00
|
N/R
|
5,013,150
|
|
2001A, 5.500%, 1/01/18 – AMBAC Insured (Alternative Minimum Tax)
|
|||||
3,465
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2007A, 4.500%,
|
2/17 at 100.00
|
AA+
|
3,520,232
|
|
8/01/46 – AGM Insured (UB) (5)
|
|||||
7,175
|
Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Senior Lien Parking
|
7/21 at 100.00
|
A+
|
8,296,022
|
|
Revenue Bonds, Series 2011, 5.000%, 7/01/41
|
|||||
21,015
|
Total Massachusetts
|
22,581,397
|
|||
Michigan – 6.7% (4.7% of Total Investments)
|
|||||
15,000
|
Detroit City School District, Wayne County, Michigan, General Obligation Bonds, Series 2001A,
|
No Opt. Call
|
Aa1
|
18,960,450
|
|
6.000%, 5/01/29 – AGM Insured (UB)
|
|||||
690
|
Detroit Water and Sewerage Department, Michigan, Sewage Disposal System Revenue Bonds,
|
7/22 at 100.00
|
A–
|
768,122
|
|
Refunding Senior Lien Series 2012A, 5.250%, 7/01/39
|
|||||
2,000
|
Garden City Hospital Finance Authority, Michigan, Revenue Bonds, Garden City Hospital
|
8/17 at 100.00
|
N/R (4)
|
2,136,140
|
|
Obligated Group, Series 2007A, 5.000%, 8/15/38 (Pre-refunded 8/15/17)
|
|||||
2,000
|
Grand Traverse County Hospital Financal Authority, Michigan, Revenue Bonds, Munson Healthcare,
|
No Opt. Call
|
AA–
|
2,215,100
|
|
Series 2014A, 5.000%, 7/01/47
|
|||||
3,580
|
Lansing Board of Water and Light, Michigan, Utility System Revenue Bonds, Series 2011A,
|
7/21 at 100.00
|
AA–
|
4,239,973
|
|
5.500%, 7/01/41
|
|||||
4,980
|
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011,
|
12/21 at 100.00
|
AA–
|
5,597,570
|
|
5.000%, 12/01/39
|
|||||
20
|
Michigan Finance Authority, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2011,
|
12/21 at 100.00
|
N/R (4)
|
24,304
|
|
5.000%, 12/01/39 (Pre-refunded 12/01/21)
|
|||||
2,250
|
Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series
|
10/21 at 100.00
|
Aa2
|
2,620,305
|
|
2011-I-A, 5.375%, 10/15/41
|
|||||
2,865
|
Michigan State Hospital Finance Authority, Revenue Bonds, Trinity Health Care Group, Series
|
12/16 at 100.00
|
AA
|
2,971,034
|
|
2006A, 5.000%, 12/01/31
|
|||||
33,385
|
Total Michigan
|
39,532,998
|
|||
Minnesota – 0.6% (0.4% of Total Investments)
|
|||||
2,040
|
Dakota County Community Development Agency, Minnesota, GNMA Collateralized Multifamily
|
4/16 at 101.00
|
Aa1
|
2,064,684
|
|
Housing Revenue Bonds, Rose Apartments Project, Series 2001, 6.350%, 10/20/37
|
|||||
(Alternative Minimum Tax)
|
|||||
1,375
|
Saint Paul Port Authority, Minnesota, Lease Revenue Bonds, Regions Hospital Parking Ramp
|
8/16 at 100.00
|
N/R
|
1,381,229
|
|
Project, Series 2007-1, 5.000%, 8/01/36
|
|||||
3,415
|
Total Minnesota
|
3,445,913
|
|||
Mississippi – 0.4% (0.2% of Total Investments)
|
|||||
2,020
|
Mississippi Business Finance Corporation, GNMA Collateralized Retirement Facility Mortgage
|
5/16 at 100.00
|
AA+
|
2,029,070
|
|
Revenue Refunding Bonds, Aldersgate Retirement Community Inc. Project, Series 1999A,
|
|||||
5.450%, 5/20/34
|
|||||
Missouri – 1.7% (1.2% of Total Investments)
|
|||||
1,495
|
Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue
|
6/17 at 100.00
|
B
|
1,400,591
|
|
Bonds, Southeast Missouri Hospital Association, Series 2007, 5.000%, 6/01/36
|
|||||
1,000
|
Clinton County Industrial Development Authority, Missouri, Revenue Bonds, Cameron Regional
|
12/17 at 100.00
|
N/R
|
1,012,720
|
|
Medical Center, Series 2007, 5.000%, 12/01/32
|
|||||
Liberty, Missouri, Special Obligation Tax Increment and Special Districts Bonds, Liberty
|
|||||
Commons Project, Series 2015A:
|
|||||
740
|
5.125%, 6/01/25
|
No Opt. Call
|
N/R
|
756,317
|
|
1,810
|
5.750%, 6/01/35
|
6/25 at 100.00
|
N/R
|
1,840,173
|
|
1,750
|
6.000%, 6/01/46
|
6/25 at 100.00
|
N/R
|
1,785,175
|
|
2,500
|
Missouri Health and Educational Facilities Authority, Revenue Bonds, Washington University,
|
11/21 at 100.00
|
AAA
|
2,908,900
|
|
Series 2011B, 5.000%, 11/15/37
|
|||||
St. Louis County Industrial Development Authority, Missouri, Revenue Bonds, Saint Andrew’s
|
|||||
Resources for Seniors, Series 2015A:
|
|||||
450
|
5.000%, 12/01/35
|
12/25 at 100.00
|
N/R
|
465,530
|
|
130
|
5.125%, 12/01/45
|
12/25 at 100.00
|
N/R
|
133,172
|
|
9,875
|
Total Missouri
|
10,302,578
|
|||
Nebraska – 1.0% (0.7% of Total Investments)
|
|||||
1,175
|
Douglas County Hospital Authority 3, Nebraska, Health Facilities Revenue Bonds, Nebraska
|
11/25 at 100.00
|
A–
|
1,323,790
|
|
Methodist Health System, Refunding Series 2015, 5.000%, 11/01/48
|
|||||
2,765
|
Omaha Public Power District, Nebraska, Electric System Revenue Bonds, Refunding Subordinated
|
2/24 at 100.00
|
AA–
|
2,930,153
|
|
Lien Series 2014CC, 4.000%, 2/01/38
|
|||||
1,005
|
Omaha Public Power District, Nebraska, Separate Electric System Revenue Bonds, Nebraska City 2,
|
2/17 at 100.00
|
AA+ (4)
|
1,645,175
|
|
Tender Option Bond Trust 11673, 20.228%, 8/01/40 (Pre-refunded 2/01/17) – BHAC Insured (IF)
|
|||||
4,945
|
Total Nebraska
|
5,899,118
|
|||
Nevada – 5.3% (3.7% of Total Investments)
|
|||||
10,000
|
Clark County, Nevada, Airport Revenue Bonds, Subordinate Lien Series 2010B, 5.750%, 7/01/42
|
1/20 at 100.00
|
A+
|
11,621,100
|
|
6,935
|
Clark County, Nevada, Passenger Facility Charge Revenue Bonds, Las Vegas-McCarran
|
1/20 at 100.00
|
A+
|
7,795,009
|
|
International Airport, Series 2010A, 5.250%, 7/01/42
|
|||||
10,000
|
Las Vegas Valley Water District, Nevada, General Obligation Bonds, Water & Refunding Series
|
6/21 at 100.00
|
AA+
|
11,504,900
|
|
2011C, 5.000%, 6/01/38
|
|||||
26,935
|
Total Nevada
|
30,921,009
|
|||
New Jersey – 3.4% (2.4% of Total Investments)
|
|||||
12,395
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Capital
|
No Opt. Call
|
A–
|
5,266,883
|
|
Appreciation Series 2010A, 0.000%, 12/15/33
|
|||||
20,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series
|
No Opt. Call
|
AA
|
9,372,400
|
|
2006C, 0.000%, 12/15/33 – AGM Insured
|
|||||
5,000
|
New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009C,
|
12/24 at 100.00
|
A–
|
5,529,850
|
|
5.250%, 6/15/32
|
|||||
37,395
|
Total New Jersey
|
20,169,133
|
|||
New York – 9.1% (6.3% of Total Investments)
|
|||||
900
|
Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter
|
4/17 at 100.00
|
B
|
787,284
|
|
Schools, Series 2007A, 5.000%, 4/01/32
|
|||||
Brooklyn Arena Local Development Corporation, New York, Payment in Lieu of Taxes Revenue
|
|||||
Bonds, Barclays Center Project, Series 2009:
|
|||||
1,275
|
6.000%, 7/15/30
|
1/20 at 100.00
|
BBB–
|
1,464,873
|
|
3,400
|
0.000%, 7/15/44
|
No Opt. Call
|
BBB–
|
926,670
|
|
3,170
|
Dormitory Authority of the State of New York, Revenue Bonds, New School University, Series
|
7/25 at 100.00
|
A–
|
3,567,740
|
|
2015A, 5.000%, 7/01/50
|
|||||
4,675
|
Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General
|
3/21 at 100.00
|
AAA
|
5,366,012
|
|
Purpose Series 2011C, 5.000%, 3/15/41
|
|||||
2,100
|
Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Senior Fiscal 2012 Series
|
2/21 at 100.00
|
A
|
2,447,130
|
|
2011A, 5.750%, 2/15/47
|
|||||
3,000
|
Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006C,
|
9/16 at 100.00
|
AA– (4)
|
3,079,980
|
|
5.000%, 9/01/35 (Pre-refunded 9/01/16) – NPFG Insured
|
|||||
1,200
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2011A, 5.000%,
|
5/21 at 100.00
|
AA
|
1,370,988
|
|
5/01/36 – AGM Insured
|
|||||
6,000
|
Long Island Power Authority, New York, Electric System Revenue Bonds, Series 2012A,
|
9/22 at 100.00
|
A–
|
6,633,120
|
|
5.000%, 9/01/42
|
|||||
750
|
Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2011A,
|
11/21 at 100.00
|
AA–
|
868,185
|
|
5.000%, 11/15/41
|
|||||
8,000
|
New York City Industrial Development Agency, New York, American Airlines-JFK International
|
8/16 at 101.00
|
N/R
|
8,343,280
|
|
Airport Special Facility Revenue Bonds, Series 2005, 7.750%, 8/01/31 (Alternative Minimum Tax)
|
|||||
3,125
|
New York City Municipal Water Finance Authority, New York, Water and Sewer System Revenue
|
12/20 at 100.00
|
AA+
|
3,669,406
|
|
Bonds, Second Generation Resolution, Fiscal 2011 Series EE, 5.375%, 6/15/43
|
|||||
10
|
New York City, New York, General Obligation Bonds, Fiscal Series 2002G, 5.625%, 8/01/20 –
|
4/16 at 100.00
|
AA
|
10,047
|
|
NPFG Insured
|
|||||
10,855
|
New York Liberty Development Corporation, New York, Liberty Revenue Bonds, 3 World Trade
|
11/24 at 100.00
|
N/R
|
11,569,585
|
|
Center Project, Class 1 Series 2014, 5.000%, 11/15/44
|
|||||
3,000
|
New York State Power Authority, General Revenue Bonds, Series 2011A, 5.000%, 11/15/38
|
11/21 at 100.00
|
Aa1
|
3,519,600
|
|
51,460
|
Total New York
|
53,623,900
|
|||
North Carolina – 0.5% (0.4% of Total Investments)
|
|||||
1,710
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Carolinas HealthCare System Revenue
|
1/18 at 100.00
|
AA–
|
1,957,044
|
|
Bonds, Series 2008, Trust 1149, 15.387%, 7/15/32 (IF) (5)
|
|||||
1,200
|
Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care System Revenue Bonds,
|
1/17 at 100.00
|
AA–
|
1,243,092
|
|
Carolinas Health Care, Series 2007A, 5.000%, 1/15/31
|
|||||
2,910
|
Total North Carolina
|
3,200,136
|
|||
Ohio – 5.6% (3.9% of Total Investments)
|
|||||
800
|
Allen County, Ohio, Hospital Facilities Revenue Bonds, Catholic Health Partners, Refunding and
|
5/22 at 100.00
|
AA–
|
888,192
|
|
Improvement Series 2012A, 5.000%, 5/01/42
|
|||||
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
|||||
Bonds, Senior Lien, Series 2007A-2:
|
|||||
2,710
|
5.875%, 6/01/30
|
6/17 at 100.00
|
B–
|
2,444,257
|
|
3,705
|
5.750%, 6/01/34
|
6/17 at 100.00
|
B–
|
3,284,075
|
|
495
|
6.000%, 6/01/42
|
6/17 at 100.00
|
B
|
443,941
|
|
11,705
|
6.500%, 6/01/47
|
6/17 at 100.00
|
B
|
11,162,122
|
|
6,610
|
5.875%, 6/01/47
|
6/17 at 100.00
|
B
|
5,855,535
|
|
1,660
|
Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue
|
6/22 at 100.00
|
B–
|
1,544,564
|
|
Bonds, Senior Lien, Series 2007A-3, 6.250%, 6/01/37
|
|||||
5,800
|
Franklin County, Ohio, Hospital Revenue Bonds, OhioHealth Corporation, Series 2011A,
|
11/21 at 100.00
|
AA+
|
6,500,988
|
|
5.000%, 11/15/41
|
|||||
1,165
|
Lorain County Port Authority, Ohio, Recovery Zone Facility Economic Development Revenue Bonds,
|
12/20 at 100.00
|
B+
|
702,041
|
|
United State Steel Corporation Project, Series 2010, 6.750%, 12/01/40
|
|||||
34,650
|
Total Ohio
|
32,825,715
|
|||
Oklahoma – 2.1% (1.5% of Total Investments)
|
|||||
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007:
|
|||||
4,390
|
5.000%, 2/15/37
|
2/17 at 100.00
|
AA
|
4,552,781
|
|
1,110
|
5.000%, 2/15/42
|
2/17 at 100.00
|
AA
|
1,149,749
|
|
Oklahoma Development Finance Authority, Revenue Bonds, Saint John Health System, Series 2007:
|
|||||
150
|
5.000%, 2/15/37 (Pre-refunded 2/15/17)
|
2/17 at 100.00
|
N/R (4)
|
157,052
|
|
35
|
5.000%, 2/15/42 (Pre-refunded 2/15/17)
|
2/17 at 100.00
|
N/R (4)
|
36,645
|
|
6,305
|
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health
|
12/16 at 100.00
|
AA+
|
6,543,518
|
|
System, Series 2006, 5.000%, 12/15/36 (UB)
|
|||||
88
|
Tulsa County Industrial Authority, Oklahoma, Health Care Revenue Bonds, Saint Francis Health
|
12/16 at 100.00
|
AA+
|
94,053
|
|
System, Tender Option Bond Trust 3500, 8.554%, 6/15/30 (IF)
|
|||||
12,078
|
Total Oklahoma
|
12,533,798
|
|||
Pennsylvania – 1.3% (0.9% of Total Investments)
|
|||||
500
|
Bucks County Industrial Development Authority, Pennsylvania, Charter School Revenue Bonds,
|
3/17 at 100.00
|
BBB–
|
503,130
|
|
School Lane Charter School, Series 2007A, 5.000%, 3/15/37
|
|||||
2,710
|
Montgomery County Industrial Development Authority, Pennsylvania, Health System Revenue Bonds,
|
1/25 at 100.00
|
Baa2
|
2,989,808
|
|
Albert Einstein Healthcare Network Issue, Series 2015A, 5.250%, 1/15/45
|
|||||
2,206
|
Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds,
|
4/16 at 100.00
|
N/R
|
1,884,284
|
|
Northampton Generating Project, Senior Lien Series 2013A0 & AE2, 5.000%, 12/01/23
|
|||||
99
|
Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds,
|
4/16 at 100.00
|
N/R
|
84,464
|
|
Northampton Generating Project, Senior Lien Taxable Series 2013B, 5.000%, 12/31/23
|
|||||
2,135
|
Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds,
|
11/24 at 100.00
|
N/R
|
2,235,986
|
|
National Gypsum Company, Refunding Series 2014, 5.500%, 11/01/44 (Alternative Minimum Tax)
|
|||||
7,650
|
Total Pennsylvania
|
7,697,672
|
|||
South Carolina – 2.4% (1.7% of Total Investments)
|
|||||
6,930
|
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series
|
12/24 at 100.00
|
AA–
|
7,809,556
|
|
2014C, 5.000%, 12/01/46
|
|||||
5,700
|
South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Series 2014A,
|
6/24 at 100.00
|
AA–
|
6,571,473
|
|
5.500%, 12/01/54
|
|||||
12,630
|
Total South Carolina
|
14,381,029
|
|||
South Dakota – 0.1% (0.1% of Total Investments)
|
|||||
760
|
South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health,
|
11/24 at 100.00
|
A+
|
859,674
|
|
Series 2014B, 5.000%, 11/01/44
|
|||||
Tennessee – 2.0% (1.4% of Total Investments)
|
|||||
5,065
|
Chattanooga Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds,
|
1/23 at 100.00
|
A+
|
5,706,685
|
|
Catholic Health Initiatives, Series 2013A, 5.250%, 1/01/45
|
|||||
2,395
|
Chattanooga-Hamilton County Hospital Authority, Tennessee, Hospital Revenue Bonds, Erlanger
|
10/24 at 100.00
|
BBB+
|
2,670,138
|
|
Health System, Refunding Series 2014A, 5.000%, 10/01/44
|
|||||
1,595
|
Harpeth Valley Utilities District, Davidson and Williamson Counties, Tennessee, Utilities
|
9/22 at 100.00
|
AA
|
1,690,668
|
|
Revenue Bonds, Series 2012A, 4.000%, 9/01/42
|
|||||
3,680
|
Knox County Health, Educational and Housing Facilities Board, Tennessee, Hospital Revenue
|
1/17 at 30.07
|
A
|
1,060,024
|
|
Refunding Bonds, Covenant Health, Series 2006, 0.000%, 1/01/41
|
|||||
415
|
Sullivan County Health Educational and Housing Facilities Board, Tennessee, Revenue Bonds,
|
9/16 at 100.00
|
BBB+
|
424,022
|
|
Wellmont Health System, Series 2006C, 5.250%, 9/01/36
|
|||||
13,150
|
Total Tennessee
|
11,551,537
|
|||
Texas – 21.9% (15.2% of Total Investments)
|
|||||
975
|
Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public
|
3/23 at 103.00
|
N/R
|
992,999
|
|
Improvement District Phase 1 Project, Series 2015, 7.250%, 9/01/45
|
|||||
870
|
Aubrey, Denton County, Texas, Special Assessment Revenue Bonds, Jackson Ridge Public
|
3/23 at 103.00
|
N/R
|
884,886
|
|
Improvement District Phases 2-3 Major Improvements Project, Series 2015, 8.250%, 9/01/40
|
|||||
5,495
|
Board of Regents, University of Texas System, Financing System Revenue Bonds, Refunding Series
|
2/17 at 100.00
|
AAA
|
5,665,125
|
|
2006F, 4.250%, 8/15/36
|
|||||
440
|
Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District
|
3/23 at 103.00
|
N/R
|
451,022
|
|
Neighborhood Improvement Area 1 Project, Series 2015, 7.250%, 9/01/45
|
|||||
770
|
Celina, Texas, Special Assessment Revenue Bonds, Sutton Fields II Public Improvement District
|
3/23 at 103.00
|
N/R
|
788,411
|
|
Neighborhood Improvement Areas 2-5 Major Improvement Project, Series 2015, 8.250%, 9/01/40
|
|||||
2,700
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2011,
|
1/21 at 100.00
|
BBB+
|
3,130,839
|
|
6.250%, 1/01/46
|
|||||
2,680
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A,
|
7/25 at 100.00
|
BBB+
|
3,027,784
|
|
5.000%, 1/01/45
|
|||||
4,500
|
Colorado River Municipal Water District, Texas, Water System Revenue Bonds, Series 2011,
|
1/21 at 100.00
|
AA–
|
5,129,775
|
|
5.000%, 1/01/36
|
|||||
1,140
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, Tender Option Bond
|
10/23 at 100.00
|
AA+
|
1,661,265
|
|
Trust 2015-XF0228, 18.208%, 4/01/53 (IF)
|
|||||
1,935
|
Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Houston
|
6/25 at 100.00
|
AA
|
2,234,461
|
|
Methodist Hospital System, Series 2015, 5.000%, 12/01/45
|
|||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Capital Appreciation Refunding
|
|||||
Senior Lien Series 2014A:
|
|||||
295
|
0.000%, 11/15/41 – AGM Insured
|
11/31 at 62.66
|
AA
|
96,247
|
|
590
|
0.000%, 11/15/42 – AGM Insured
|
11/31 at 59.73
|
AA
|
182,227
|
|
1,000
|
0.000%, 11/15/43 – AGM Insured
|
11/31 at 56.93
|
AA
|
293,230
|
|
2,000
|
0.000%, 11/15/44 – AGM Insured
|
11/31 at 54.25
|
AA
|
558,320
|
|
2,600
|
0.000%, 11/15/45 – AGM Insured
|
11/31 at 51.48
|
AA
|
689,338
|
|
235
|
Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc.
|
7/24 at 100.00
|
BB–
|
256,573
|
|
Terminal E Project, Refunding Series 2014, 5.000%, 7/01/29
|
|||||
10,000
|
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2011D,
|
11/21 at 100.00
|
AA
|
11,505,900
|
|
5.000%, 11/15/40
|
|||||
705
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
9/16 at 100.00
|
A2
|
722,872
|
|
Facilities Department, Refunding Series 2011B, 5.250%, 9/01/27
|
|||||
4,260
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
9/16 at 100.00
|
N/R (4)
|
4,383,114
|
|
Facilities Department, Refunding Series 2011B, 5.250%, 9/01/27 (Pre-refunded 9/01/16)
|
|||||
6,000
|
Houston, Texas, Water and Sewerage System Revenue Bonds, Refunding Junior Lien Series 2001B,
|
No Opt. Call
|
AA+ (4)
|
8,399,100
|
|
5.500%, 12/01/29 – NPFG Insured (ETM)
|
|||||
14,200
|
Hutto Independent School District, Williamson County, Texas, General Obligation Bonds, Series
|
8/16 at 100.00
|
AAA
|
14,470,368
|
|
2007A, 4.750%, 8/01/43 (UB)
|
|||||
8,000
|
Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission
|
5/20 at 100.00
|
A1
|
8,966,800
|
|
Services Corporation Project, Refunding & Improvement Series 2010, 5.000%, 5/15/40
|
|||||
1,750
|
Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series
|
4/21 at 100.00
|
BBB
|
1,967,578
|
|
2011A, 7.250%, 4/01/36
|
|||||
2,505
|
Matagorda County Navigation District 1, Texas, Collateralized Revenue Refunding Bonds, Houston
|
No Opt. Call
|
A1
|
3,089,592
|
|
Light and Power Company, Series 1997, 5.125%, 11/01/28 – AMBAC Insured (Alternative
|
|||||
Minimum Tax)
|
|||||
7,340
|
Mission Economic Development Corporation, Texas, Water Supply Revenue Bonds, Enviro Water
|
1/26 at 102.00
|
N/R
|
7,424,630
|
|
Minerals Project, Green Bonds, Series 2015, 7.750%, 1/01/45 (Alternative Minimum Tax)
|
|||||
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A:
|
|||||
4,370
|
0.000%, 9/01/43
|
9/31 at 100.00
|
AA+
|
4,192,360
|
|
9,130
|
0.000%, 9/01/45
|
9/31 at 100.00
|
AA+
|
9,610,968
|
|
5,900
|
North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2008F,
|
1/18 at 100.00
|
A2 (4)
|
6,466,046
|
|
5.750%, 1/01/38 (Pre-refunded 1/01/18)
|
|||||
1,000
|
North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier, Series 2015A,
|
1/25 at 100.00
|
A2
|
1,161,470
|
|
5.000%, 1/01/35
|
|||||
3,500
|
Southwest Higher Education Authority Inc, Texas, Revenue Bonds, Southern Methodist University,
|
10/20 at 100.00
|
AA–
|
3,982,370
|
|
Series 2010, 5.000%, 10/01/41
|
|||||
7,700
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas
|
2/17 at 100.00
|
AA
|
7,976,584
|
|
Health Resources, Refunding Series 2007A, 5.000%, 2/15/36 (UB)
|
|||||
435
|
Texas Municipal Gas Acquisition and Supply Corporation III, Gas Supply Revenue Bonds, Series
|
No Opt. Call
|
A3
|
491,285
|
|
2012, 5.000%, 12/15/32
|
|||||
1,665
|
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, First Tier
|
8/22 at 100.00
|
A–
|
1,836,545
|
|
Refunding Series 2012A, 5.000%, 8/15/41
|
|||||
5,925
|
Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Second Tier
|
8/24 at 100.00
|
BBB+
|
6,608,804
|
|
Refunding Series 2015C, 5.000%, 8/15/42
|
|||||
122,610
|
Total Texas
|
129,298,888
|
|||
Utah – 0.9% (0.7% of Total Investments)
|
|||||
4,935
|
Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2012, 5.000%, 6/15/42
|
6/22 at 100.00
|
A+
|
5,491,767
|
|
Virginia – 0.8% (0.5% of Total Investments)
|
|||||
1,000
|
Chesterfield County Health Center Commission, Virginia, Mortgage Revenue Bonds, Lucy Corr
|
4/16 at 100.00
|
N/R
|
927,600
|
|
Village, Series 2005, 5.375%, 12/01/28
|
|||||
3,390
|
Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles
|
4/22 at 100.00
|
BBB+
|
3,673,472
|
|
Metrorail & Capital Improvement Project, Refunding Second Senior Lien Series 2014A,
|
|||||
5.000%, 10/01/53
|
|||||
4,390
|
Total Virginia
|
4,601,072
|
|||
Washington – 5.2% (3.6% of Total Investments)
|
|||||
6,000
|
Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Series
|
7/25 at 100.00
|
Aa1
|
7,102,800
|
|
2015A, 5.000%, 7/01/38 (UB) (5)
|
|||||
2,500
|
King County, Washington, Sewer Revenue Bonds, Series 2009, 5.250%, 1/01/42
|
1/19 at 100.00
|
AA+
|
2,778,425
|
|
10,000
|
Washington Health Care Facilities Authority, Revenue Bonds, Catholic Health, Series 2011A,
|
2/21 at 100.00
|
A+
|
10,915,900
|
|
5.000%, 2/01/41
|
|||||
6,064
|
Washington Health Care Facilities Authority, Revenue Bonds, Central Washington Health Services
|
7/25 at 100.00
|
Baa1
|
6,172,229
|
|
Association, Refunding Series 2015, 4.000%, 7/01/36
|
|||||
3,410
|
Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research
|
1/21 at 100.00
|
A
|
3,840,785
|
|
Center, Series 2011A, 5.625%, 1/01/35
|
|||||
27,974
|
Total Washington
|
30,810,139
|
|||
Wisconsin – 2.1% (1.5% of Total Investments)
|
|||||
235
|
Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum
|
11/24 at 100.00
|
N/R
|
246,132
|
|
Company Project, Refunding Series 2014, 5.250%, 4/01/30 (Alternative Minimum Tax)
|
|||||
1,000
|
Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Franciscan Sisters of
|
9/17 at 100.00
|
BBB+
|
1,034,010
|
|
Christian Charity HealthCare Ministry, Series 2007, 5.000%, 9/01/33
|
|||||
10,000
|
Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, ThedaCare
|
12/24 at 100.00
|
AA–
|
11,237,300
|
|
Inc, Series 2015, 5.000%, 12/15/44
|
|||||
11,235
|
Total Wisconsin
|
12,517,442
|
|||
$ 864,312
|
Total Municipal Bonds (cost $766,058,167)
|
844,703,533
|
Principal
|
||||||
Amount (000)
|
Description (1)
|
Coupon
|
Maturity
|
Ratings (3)
|
Value
|
|
CORPORATE BONDS – 0.0% (0.0% of Total Investments)
|
||||||
Transportation – 0.0% (0.0% of Total Investments)
|
||||||
$ 45
|
Las Vegas Monorail Company, Senior Interest Bonds (8), (9)
|
5.500%
|
7/15/19
|
N/R
|
$ 1,355
|
|
12
|
Las Vegas Monorail Company, Senior Interest Bonds (8), (9)
|
5.500%
|
7/15/55
|
N/R
|
360
|
|
$ 57
|
Total Corporate Bonds ($5,125)
|
1,715
|
||||
Shares
|
Description (1), (10)
|
Value
|
||||
INVESTMENT COMPANIES – 0.6% (0.4% of Total Investments)
|
||||||
6,266
|
BlackRock MuniHoldings Fund Inc.
|
$ 108,026
|
||||
131,278
|
Deutsche Municipal Income Trust
|
1,822,139
|
||||
26,880
|
Dreyfus Strategic Municipal Fund
|
233,050
|
||||
43,020
|
Invesco VK Investment Grade Municipal Trust
|
587,653
|
||||
30,000
|
Invesco VK Municipal Opportunity Trust
|
403,200
|
||||
43,420
|
PIMCO Municipal Income Fund II
|
561,856
|
||||
Total Investment Companies (cost $3,325,133)
|
3,715,924
|
|||||
Total Long-Term Investments (cost $769,388,425)
|
848,421,172
|
|||||
Floating Rate Obligations – (7.0)%
|
(41,452,000)
|
|||||
Institutional MuniFund Term Preferred Shares, at Liquidation Value – (25.5)% (11)
|
(150,000,000)
|
|||||
Variable Rate MuniFund Term Preferred Shares, at Liquidation Value – (13.7)% (11)
|
(81,000,000)
|
|||||
Other Assets Less Liabilities – 2.2%
|
13,244,439
|
|||||
Net Assets Applicable to Common Shares – 100%
|
$ 589,213,611
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Long-Term Investments:
|
||||
Municipal Bonds
|
$ —
|
$844,703,533
|
$ —
|
$844,703,533
|
Corporate Bonds
|
—
|
—
|
1,715
|
1,715
|
Investment Companies
|
3,715,924
|
—
|
—
|
3,715,924
|
Total
|
$3,715,924
|
$844,703,533
|
$1,715
|
$848,421,172
|
Gross unrealized:
|
|
Appreciation
|
$86,505,469
|
Depreciation
|
(6,385,831)
|
Net unrealized appreciation (depreciation) of investments
|
$80,119,638
|
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to common
|
|
shares unless otherwise noted.
|
||
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
|
|
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
|
||
may be subject to periodic principal paydowns.
|
||
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc.
|
|
(“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB
|
||
by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of
|
||
these national rating agencies.
|
||
(4)
|
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)
|
Investment, or portion of investment, has been pledged to collateralize the net payment obligations for
|
|
investments in inverse floating rate transactions.
|
||
(6)
|
As of, or subsequent to, the end of the reporting period this security is non-income producing. Non-income
|
|
producing, in the case of a fixed-income security, generally denotes that the issuer has (1) defaulted on the
|
||
payment of principal or interest, (2) is under the protection of the Federal Bankruptcy Court or (3) the Fund’s
|
||
Adviser has concluded that the issue is not likely to meet its future interest payment obligations and has
|
||
ceased accruing additional income on the Fund’s records.
|
||
(7)
|
On January 7, 2015, the Fund’s Adviser determined it was unlikely that this borrower would fulfill its entire
|
|
obligation on this security, and therefore reduced the security’s interest rate of accrual from 7.125% to
|
||
5.700%. On November 11, 2015, the Fund’s Adviser determined it was unlikely that this borrower would
|
||
fulfill its entire obligation on this security, and therefore reduced the security’s interest rate of accrual
|
||
from 5.700% to 4.275%.
|
||
(8)
|
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.
|
||
(9)
|
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’s custodian is not accruing income on the Fund’s records for either senior
|
||
interest corporate bond.
|
||
(10)
|
A copy of the most recent financial statements for these investment companies can be obtained directly
|
|
from the Securities and Exchange Commission (“SEC”) on its website at http://www.sec.gov.
|
||
(11)
|
Institutional MuniFund Term Preferred Shares and Variable Rate MuniFund Term Preferred Shares, at
|
|
Liquidation Value as a percentage of Total Investments are 17.7% and 9.5%, respectively.
|
||
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
a.
|
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
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)
|