NOT FDIC INSURED
|
OFFER NO BANK GUARANTEE | MAY LOSE VALUE | ||||
NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
|
NOT A DEPOSIT | |||||
Municipal
Trust |
||||||||||||
Symbol: VKQ | ||||||||||||
Average Annual |
Based on |
Based on |
||||||||||
Total Returns | NAV | Market Price | ||||||||||
Since Inception (9/27/91) | 5.17 | % | 5.21 | % | ||||||||
10-year | 2.66 | 3.06 | ||||||||||
5-year | 0.47 | 2.43 | ||||||||||
1-year | 14.28 | 17.06 | ||||||||||
6-month | 11.17 | 16.92 | ||||||||||
Based on |
Based on |
Barclays
Capital |
|||||||||||||||||
NAV | Market Price | Municipal Bond Index | |||||||||||||||||
11.17 | % | 16.92 | % | 8.20 | % | ||||||||||||||
Ratings Allocation as of 4/30/09 (Unaudited) | ||||
AAA/Aaa
|
26.2 | % | ||
AA/Aa
|
31.6 | |||
A/A
|
13.0 | |||
BBB/Baa
|
13.7 | |||
BB/Ba
|
1.4 | |||
B/B
|
1.2 | |||
Non-Rated
|
12.9 | |||
Top Five Sectors as of 4/30/09 (Unaudited) | ||||
Hospital
|
21.8 | % | ||
General Purpose
|
9.8 | |||
Airports
|
6.6 | |||
Water & Sewer
|
5.8 | |||
Single-Family
|
5.4 | |||
Summary of Investments by State/Country Classification as of 4/30/09 (Unaudited) | ||||
California
|
13.7 | % | ||
Texas
|
11.2 | |||
Illinois
|
9.8 | |||
Florida
|
7.8 | |||
New York
|
7.5 | |||
New Jersey
|
5.6 | |||
Ohio
|
4.8 | |||
Massachusetts
|
2.8 | |||
Alabama
|
2.4 | |||
Arizona
|
2.2 | |||
Nevada
|
2.1 | |||
Missouri
|
2.0 | |||
Wisconsin
|
1.8 | |||
Louisiana
|
1.7 | |||
Colorado
|
1.7 | |||
Michigan
|
1.7 | |||
South Carolina
|
1.6 | |||
Connecticut
|
1.6 | |||
Tennessee
|
1.5 | |||
District of Columbia
|
1.4 | |||
Washington
|
1.4 | |||
Pennsylvania
|
1.4 | |||
North Carolina
|
1.3 | |||
Indiana
|
1.2 | |||
Kentucky
|
1.0 | |||
Georgia
|
0.9 | |||
Minnesota
|
0.9 | |||
Virginia
|
0.8 | |||
Maryland
|
0.8 | |||
New Hampshire
|
0.8 | |||
Kansas
|
0.6 | |||
West Virginia
|
0.6 | |||
Iowa
|
0.5 | |||
Oklahoma
|
0.4 | |||
Alaska
|
0.4 |
Summary of Investments by State/Country Classification as of 4/30/09 (Unaudited) | ||||
(continued from previous page)
|
||||
New Mexico
|
0.4 | % | ||
Guam
|
0.4 | |||
Nebraska
|
0.3 | |||
Idaho
|
0.3 | |||
North Dakota
|
0.3 | |||
Rhode Island
|
0.1 | |||
Wyoming
|
0.1 | |||
Vermont
|
0.1 | |||
Utah
|
0.1 | |||
Puerto Rico
|
0.0 | * | ||
Total Investments
|
100.0 | % |
* | Amount is less than 0.1% |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Municipal Bonds 178.0% Alabama 4.2% |
||||||||||||||
$ | 2,150 | Bessemer, AL Governmental Util Svc Corp Wtr Supply Rev Rfdg, Ser A (AGL Insd) (a) | 5.000 | % | 06/01/39 | $ | 2,113,192 | |||||||
1,000 | Birmingham Baptist Med Ctr AL Baptist Hlth Sys, Ser A | 5.875 | 11/15/24 | 867,140 | ||||||||||
3,695 | Gadsden, AL Wts, Ser B (AMBAC Insd) | 5.250 | 08/01/21 | 3,965,252 | ||||||||||
1,300 | Hlthcare Auth for Baptist Hlth AL, Ser A (b) | 6.125 | 11/15/36 | 1,305,239 | ||||||||||
5,000 | Hlthcare Auth for Baptist Hlth AL ARS, Ser B (AGL Insd) (b) (c) | 4.000 | 11/15/37 | 5,000,000 | ||||||||||
1,725 | Huntsville-Redstone Vlg, AL Spl Care Fac Fin Auth Redstone Vlg Proj | 5.500 | 01/01/43 | 1,014,507 | ||||||||||
4,000 | Jefferson Cnty, AL Swr Rev Cap Impt Wts (FGIC Insd) (Prerefunded @ 8/01/12) | 5.125 | 02/01/42 | 4,334,400 | ||||||||||
18,599,730 | ||||||||||||||
Alaska 0.7% | ||||||||||||||
1,000 | Matanuska-Susitna Boro, AK Ctf Partn Pub Safety Bldg Lease (FSA Insd) | 5.750 | 03/01/16 | 1,032,060 | ||||||||||
3,870 | Northern Tob Sec Corp AK Tob Settlement Rev Asset Bkd, Ser A | 5.000 | 06/01/46 | 2,026,564 | ||||||||||
3,058,624 | ||||||||||||||
Arizona 4.0% | ||||||||||||||
1,425 | Arizona Cap Fac Fin Corp Student Hsg Rev AZ St Univ Proj | 6.250 | 09/01/32 | 1,134,784 | ||||||||||
1,700 | Arizona St Trans Brd Hwy Rev, Ser B | 5.000 | 07/01/25 | 1,825,953 | ||||||||||
2,545 | Arizona St Trans Brd Hwy Rev, Ser B | 5.000 | 07/01/26 | 2,712,436 | ||||||||||
1,650 | Glendale, AZ Indl Dev Auth Rfdg | 5.000 | 12/01/35 | 1,247,747 | ||||||||||
2,000 | Goodyear, AZ McDowell Rd Coml Corridor Impt Dist Impt (AMBAC Insd) | 5.250 | 01/01/32 | 1,779,040 | ||||||||||
2,300 | Pima Cnty, AZ Indl Dev Auth Wtr & Waste Wtr Rev Global Wtr Resh LLC Proj (AMT) | 6.550 | 12/01/37 | 1,601,835 | ||||||||||
2,050 | Salt Riv Proj AZ Agric Impt & Pwr Dist Elec Sys Rev, Ser A | 5.000 | 01/01/28 | 2,142,619 | ||||||||||
6,500 | University of AZ Med Ctr Corp | 5.000 | 07/01/35 | 4,942,730 | ||||||||||
17,387,144 | ||||||||||||||
California 24.4% | ||||||||||||||
4,000 | Anaheim, CA Pub Fin Auth Lease Rev Cap Apprec Sub Pub Impt Proj, Ser C (FSA Insd) | * | 09/01/20 | 2,129,280 | ||||||||||
2,100 | Bay Area Govt Assn CA Rev Tax Alloc CA Redev Pool, Ser A (Syncora Gtd) | 5.250 | 09/01/35 | 1,679,622 | ||||||||||
6,000 | Bay Area Toll Auth CA Toll Brdg Rev San Francisco Bay Area, Ser F1 | 5.000 | 04/01/39 | 5,917,260 | ||||||||||
800 | Beverly Hills, CA Uni Sch Dist Cap Apprec 2008 Election | * | 08/01/28 | 287,328 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
California (Continued) | ||||||||||||||
$ | 1,875 | California Cnty, CA Tob Sec Agy Tob Asset Bkd Merced Cnty Rfdg, Ser A | 5.250 | % | 06/01/45 | $ | 994,050 | |||||||
3,000 | California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a) | 4.950 | 08/01/23 | 2,617,320 | ||||||||||
2,000 | California Hsg Fin Agy Rev Home Mtg, Ser G (AMT) (a) | 5.050 | 02/01/29 | 1,631,840 | ||||||||||
6,000 | California Hsg Fin Agy Rev Home Mtg, Ser I (AMT) (a) | 4.800 | 08/01/36 | 4,554,840 | ||||||||||
3,150 | California Hsg Fin Agy Rev Home Mtg, Ser K (AMT) (a) | 5.300 | 08/01/23 | 2,867,288 | ||||||||||
3,700 | California Hsg Fin Agy Rev Home Mtg, Ser K (AMT) (a) | 5.450 | 08/01/28 | 3,199,094 | ||||||||||
1,000 | California Pollutn Ctl Fin Auth Solid Waste Disp Rev Waste Mgmt Inc Proj, Ser B (AMT) | 5.000 | 07/01/27 | 843,680 | ||||||||||
510 | California St (AMBAC Insd) | 5.125 | 10/01/27 | 510,066 | ||||||||||
775 | California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a) | 5.000 | 12/01/24 | 831,211 | ||||||||||
975 | California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a) | 5.000 | 12/01/25 | 1,037,244 | ||||||||||
975 | California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a) | 5.000 | 12/01/26 | 1,029,610 | ||||||||||
575 | California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a) | 5.000 | 12/01/27 | 602,347 | ||||||||||
975 | California St Dept Wtr Res Wtr Rev Cent Vly Proj, Ser AE (a) | 5.000 | 12/01/28 | 1,014,683 | ||||||||||
1,995 | California St Pub Wks Brd UCLA Replacement Hosp, Ser A (FSA Insd) | 5.375 | 10/01/20 | 2,062,770 | ||||||||||
5,000 | California St Univ Rev Sys Wide, Ser A (AMBAC Insd) | 5.000 | 11/01/23 | 5,098,050 | ||||||||||
1,750 | California St Var Purp | 5.750 | 04/01/31 | 1,785,700 | ||||||||||
7,565 | California St Vet, Ser CD (AMT) (a) | 4.600 | 12/01/32 | 5,923,168 | ||||||||||
2,650 | California Statewide Cmnty Dev Auth Ctf Partn (Prerefunded @ 11/01/09) (Acquired 11/23/99, Cost $2,650,000) (d) | 7.250 | 11/01/29 | 2,716,780 | ||||||||||
1,000 | California Statewide Cmnty Dev Auth Rev Front Porch Cmnty & Svc, Ser A (e) | 5.125 | 04/01/37 | 654,200 | ||||||||||
1,800 | California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A | 5.000 | 03/01/30 | 1,530,414 | ||||||||||
2,500 | California Statewide Cmnty Dev Auth Rev Hlth Fac Adventist Hlth, Ser A | 5.000 | 03/01/35 | 2,046,775 | ||||||||||
3,805 | California Statewide Cmnty Dev Auth Rev Sutter Hlth, Ser A | 5.000 | 11/15/43 | 3,308,866 | ||||||||||
750 | Chawanakee, CA Uni Sch Dist Ctf Partn, Ser A (i) | 6.250/9.000 | 05/01/39 | 749,460 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
California (Continued) | ||||||||||||||
$ | 445 | Daly City, CA Hsg Dev Fin Agy Mobile Home Pk Rev Third Tier Franciscan Rfdg, Ser C | 6.500 | % | 12/15/47 | $ | 317,183 | |||||||
27,810 | Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg | * | 01/15/33 | 2,900,861 | ||||||||||
18,000 | Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Rfdg (NATL Insd) | * | 01/15/25 | 4,274,640 | ||||||||||
225 | Foothill/Eastern Corridor Agy CA Toll Rd Rev Cap Apprec Sr Lien, Ser A (Prerefunded @ 1/01/10) | 7.150 | 01/01/13 | 239,539 | ||||||||||
9,200 | Golden St Tob Sec Corp CA Tob Settlement Rev Asset Bkd Sr, Ser A-1 | 5.750 | 06/01/47 | 5,297,360 | ||||||||||
4,000 | Golden St Tob Sec Corp CA Tob Settlement Rev Enhanced, Ser A | 5.000 | 06/01/45 | 3,141,160 | ||||||||||
5,000 | Golden St Tob Sec Corp CA Tob Settlement Rev Enhanced, Ser A (FGIC Insd) | 5.000 | 06/01/35 | 4,139,350 | ||||||||||
1,000 | Hesperia, CA Pub Fin Auth Rev Redev & Hsg Proj, Ser A (Syncora Gtd) | 5.000 | 09/01/37 | 713,330 | ||||||||||
2,635 | Imperial Irr Dist CA Ctf Partn Elec Sys Proj (FSA Insd) | 5.250 | 11/01/23 | 2,730,492 | ||||||||||
1,200 | Los Angeles, CA Uni Sch Dist, Ser D | 5.000 | 07/01/22 | 1,262,976 | ||||||||||
2,500 | Metropolitan Wtr Dist Southn CA Wtrwks Rev Auth, Ser A | 5.000 | 01/01/34 | 2,553,675 | ||||||||||
375 | Morongo Band of Mission Indians CA Enterprise Rev Indians Enterprise Casino, Ser B (e) | 5.500 | 03/01/18 | 311,869 | ||||||||||
1,000 | Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser B (FSA Insd) (b) (c) | 2.700 | 11/01/36 | 1,000,000 | ||||||||||
1,350 | Palomar Pomerado Hlthcare Dist CA Ctf Partn, Ser C (FSA Insd) (b) (c) | 4.000 | 11/01/36 | 1,350,000 | ||||||||||
2,350 | Quechan Indian Tribe Ft Yuma Indian Reservation CA & Govt Proj | 7.000 | 12/01/27 | 1,633,532 | ||||||||||
1,600 | Rancho Mirage, CA Jt Pwr Fin Auth Rev Eisenhower Med Ctr, Ser A | 5.000 | 07/01/47 | 1,291,952 | ||||||||||
1,375 | San Bernadino, CA Jt Pwr Fin Auth Alloc Rev Cent City Merged Proj Rfdg, Ser A (AMBAC Insd) | 5.750 | 07/01/20 | 1,392,408 | ||||||||||
1,200 | San Francisco, CA City & Cnty Arpt Commn Intl Arpt Rfdg 2nd, Ser A-4 (AMT) (b) | 6.500 | 05/01/19 | 1,245,888 | ||||||||||
1,000 | San Joaquin Hills, CA Trans Corridor Agy Toll Rd Rev Cap Apprec Rfdg, Ser A (NATL Insd) | * | 01/15/27 | 254,460 | ||||||||||
1,000 | San Joaquin Hills, CA Trans Corridor Agy Toll Rd Rev Cap Apprec Rfdg, Ser A (NATL Insd) | * | 01/15/28 | 234,260 | ||||||||||
4,290 | Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd, Ser A-1 | 5.375 | 06/01/38 | 2,590,817 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
California (Continued) | ||||||||||||||
$ | 3,050 | Tobacco Sec Auth Northn CA Tob Settlement Rev Asset Bkd, Ser A-1 | 5.500 | % | 06/01/45 | $ | 1,689,914 | |||||||
3,200 | Tobacco Sec Auth Southn CA Tob Settlement Sr, Ser A-1 | 5.000 | 06/01/37 | 1,823,328 | ||||||||||
8,350 | Tobacco Sec Auth Southn CA Tob Settlement Sr, Ser A-1 | 5.125 | 06/01/46 | 4,316,115 | ||||||||||
3,000 | Vernon, CA Nat Gas Fin Auth Rev Vernon Gas Proj, Ser C (NATL Insd) (b) (c) | 6.750 | 08/01/21 | 3,000,000 | ||||||||||
107,328,055 | ||||||||||||||
Colorado 3.1% | ||||||||||||||
425 | Colorado Hlth Fac Auth Hlth & Residential Care Fac Volunteers of Amer Care, Ser A | 5.300 | 07/01/37 | 239,577 | ||||||||||
4,875 | Colorado Hlth Fac Auth Rev Catholic Hlth, Ser C-5 (FSA Insd) (a) | 5.000 | 09/01/36 | 4,705,789 | ||||||||||
1,000 | Colorado Hlth Fac Auth Rev Evangelical Lutheran, Ser A | 5.250 | 06/01/34 | 778,850 | ||||||||||
3,700 | Colorado Hlth Fac Auth Rev Hlth Fac Evangelical Lutheran | 5.000 | 06/01/35 | 2,747,842 | ||||||||||
1,125 | Colorado Hlth Fac Auth Rev Hosp Portercare Adventist Hlth (Prerefunded @ 11/15/11) | 6.500 | 11/15/31 | 1,274,220 | ||||||||||
1,000 | Colorado Hlth Fac Auth Rev Poudre Vly CO Hlth Fac Auth Hosp, Ser A (FSA Insd) | 5.200 | 03/01/31 | 958,380 | ||||||||||
100 | Jefferson Cnty, CO Residential Mtg Rev (f) | 9.000 | 09/01/12 | 124,109 | ||||||||||
300 | Jefferson Cnty, CO Residential Mtg Rev (f) | 11.500 | 09/01/09 | 310,851 | ||||||||||
340 | Jefferson Cnty, CO Residential Mtg Rev (f) | 11.500 | 09/01/10 | 387,450 | ||||||||||
220 | Jefferson Cnty, CO Residential Mtg Rev (f) | 11.500 | 09/01/11 | 270,827 | ||||||||||
985 | Montezuma Cnty, CO Hosp Dist Hlth Fac Enterprise Hosp Rfdg (g) | 5.900 | 10/01/37 | 642,052 | ||||||||||
1,000 | Platte Riv Pwr Auth CO Pwr Rev, Ser HH | 5.000 | 06/01/26 | 1,054,250 | ||||||||||
13,494,197 | ||||||||||||||
Connecticut 2.9% | ||||||||||||||
4,225 | Connecticut St Hsg Fin Auth Hsg Mtg Fin Pg Sub, Ser B-2 (AMT) | 5.100 | 05/15/38 | 3,872,677 | ||||||||||
2,840 | Connecticut St Spl Oblig Pkg Rev Bradley Intl Arpt, Ser A (ACA Insd) (AMT) | 6.600 | 07/01/24 | 2,169,164 | ||||||||||
600 | Mashantucket Western Pequot Tribe CT 2006 Sub Spl Rev Bd, Ser A (e) | 5.500 | 09/01/36 | 287,496 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Connecticut (Continued) | ||||||||||||||
$ | 6,500 | Mashantucket Western Pequot Tribe CT Spl Rev, Ser B (e) | 5.750 | % | 09/01/18 | $ | 4,328,870 | |||||||
3,500 | Mashantucket Western Pequot Tribe CT Spl Rev, Ser B (e) | 5.750 | 09/01/27 | 1,907,605 | ||||||||||
12,565,812 | ||||||||||||||
District of Columbia 2.6% | ||||||||||||||
775 | District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien Rfdg, Ser A (AGL Insd) (a) | 5.000 | 10/01/29 | 784,850 | ||||||||||
1,575 | District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien Rfdg, Ser A (AGL Insd) (a) | 5.000 | 10/01/34 | 1,579,631 | ||||||||||
4,000 | District Columbia Wtr & Swr Auth Pub Util Rev Sub Lien, Ser A (FSA Insd) | 5.500 | 10/01/41 | 4,135,880 | ||||||||||
5,000 | Metropolitan Washington DC Arpt Auth Sys, Ser A (NATL Insd) (AMT) | 5.125 | 10/01/26 | 4,769,800 | ||||||||||
11,270,161 | ||||||||||||||
Florida 14.0% | ||||||||||||||
1,000 | Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg | 5.250 | 11/15/17 | 829,930 | ||||||||||
1,000 | Alachua Cnty, FL Indl Dev Rev North FL Retirement Vlg | 5.875 | 11/15/36 | 667,460 | ||||||||||
340 | Beacon Lakes, FL Cmnty Dev FL Spl Assmt, Ser A | 6.000 | 05/01/38 | 212,990 | ||||||||||
250 | Beacon Lakes, FL Cmnty Dev FL Spl Assmt Sub, Ser B | 6.200 | 05/01/38 | 153,547 | ||||||||||
2,970 | Brevard Cnty, FL Hlth Fac Auth Hlthcare Fac Rev Hlth First Inc Proj | 5.000 | 04/01/34 | 2,323,342 | ||||||||||
1,335 | Brevard Cnty, FL Hlth Fac Auth Residential Care Fac Rev Buena Vida Estates Inc | 6.750 | 01/01/37 | 957,809 | ||||||||||
3,380 | Brevard Cnty, FL Hlth Fac Hlth First Inc Proj (NATL Insd) | 5.125 | 04/01/31 | 2,746,081 | ||||||||||
400 | Capital Tr Agy FL Rev Ft Lauderdale Proj (AMT) | 5.750 | 01/01/32 | 268,076 | ||||||||||
395 | Escambia Cnty, FL Hlth Fac Auth Rev (AMBAC Insd) | 5.950 | 07/01/20 | 407,190 | ||||||||||
5,000 | Florida St Dept Trans Tpk Rev, Ser A (a) | 5.000 | 07/01/29 | 5,007,550 | ||||||||||
1,895 | Gulf Breeze, FL Rev Loc Govt (FGIC Insd) (b) | 5.625 | 12/01/20 | 1,922,989 | ||||||||||
855 | Highlands, FL Cmnty Dev Dist Spl Assmt | 5.550 | 05/01/36 | 463,427 | ||||||||||
975 | Hillsborough Cnty, FL Aviation Auth Rev, Ser A (AGL Insd) (AMT) (a) | 5.375 | 10/01/33 | 915,174 | ||||||||||
2,175 | Hillsborough Cnty, FL Aviation Auth Rev, Ser A (AGL Insd) (AMT) (a) | 5.500 | 10/01/38 | 2,051,264 | ||||||||||
2,310 | Hillsborough Cnty, FL Indl Dev Auth Indl Dev Rev Hlth Fac Proj Univ Cmnty Hosp, Ser A (Prerefunded @ 8/15/09) | 5.500 | 08/15/14 | 2,366,780 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Florida (Continued) | ||||||||||||||
$ | 800 | Hillsborough Cnty, FL Indl Dev Auth Pollutn Ctl Rev Hillsborough Cnty IDA Rfdg (AMBAC Insd) (b) | 5.000 | % | 12/01/34 | $ | 805,592 | |||||||
800 | Hillsborough Cnty, FL Indl Dev Auth Pollutn Ctl Rev Tampa Elec, Ser B (b) | 5.150 | 09/01/25 | 799,728 | ||||||||||
3,000 | Hillsborough Cnty, FL Solid Waste & Res Recovery Rev, Ser A (BHAC Insd) (AMT) | 4.500 | 09/01/34 | 2,360,970 | ||||||||||
5,000 | Lakeland, FL Hosp Sys Rev Lakeland Regl Hlth Sys Rfdg | 5.000 | 11/15/26 | 4,166,650 | ||||||||||
5,000 | Lakeland, FL Hosp Sys Rev Lakeland Regl Hlth Sys Rfdg | 5.000 | 11/15/26 | 3,911,500 | ||||||||||
665 | Main Str Cmnty Dev Dist FL Cap Impt Rev, Ser A (Acquired 2/19/08, Cost $665,000) (d) | 6.800 | 05/01/38 | 423,046 | ||||||||||
425 | Main Str Cmnty Dev Dist FL Cap Impt Rev, Ser B (Acquired 2/19/08, Cost $425,000) (d) | 6.900 | 05/01/17 | 339,702 | ||||||||||
1,515 | Miami Beach, FL Stormwtr Rev (NATL Insd) | 5.250 | 09/01/25 | 1,525,469 | ||||||||||
2,700 | Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (AGC Insd) (AMT) | 5.375 | 10/01/32 | 2,550,582 | ||||||||||
2,000 | Miami-Dade Cnty, FL Aviation Rev Miami Intl Arpt (NATL Insd) (AMT) | 5.375 | 10/01/25 | 1,914,740 | ||||||||||
5,000 | Miami-Dade Cnty, FL Aviation, Ser A (FSA Insd) (AMT) | 5.125 | 10/01/35 | 4,502,800 | ||||||||||
620 | Midtown Miami, FL Cmnty Dev FL Spl Assmt Rev, Ser A | 6.000 | 05/01/24 | 445,024 | ||||||||||
700 | Orange Cnty, FL Hlth Fac Auth Rev First Mtg Orlando Lutheran Tower | 5.500 | 07/01/32 | 433,433 | ||||||||||
930 | Orange Cnty, FL Hlth Fac Auth Rev Hlthcare Orlando Lutheran Rfdg | 5.375 | 07/01/20 | 696,812 | ||||||||||
570 | Overoaks, FL Cmnty Dev Dist Cap Impt Rev, Ser A | 6.125 | 05/01/35 | 316,909 | ||||||||||
1,100 | Palm Beach Cnty, FL Hlth Fac Auth Rev Wtrford Proj | 5.875 | 11/15/37 | 825,264 | ||||||||||
2,600 | Palm Beach Cnty, FL Solid Waste Auth Rev Impt (BHAC Insd) | 5.500 | 10/01/23 | 2,800,798 | ||||||||||
1,400 | Port Saint Lucie, FL Spl Assmt Rev Southwest Annexation Dist, Ser 1-B (NATL Insd) | 5.000 | 07/01/33 | 1,139,810 | ||||||||||
3,250 | Putnam Cnty, FL Dev Auth Pollutn Ctl Rev Rfdg Seminole Proj, Ser A (AMBAC Insd) (b) | 5.350 | 03/15/42 | 3,287,732 | ||||||||||
590 | Reunion East Cmnty Dev Dist FL Spl Assmt | 5.800 | 05/01/36 | 302,363 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Florida (Continued) | ||||||||||||||
$ | 400 | Seminole Tribe FL Spl Oblig Rev, Ser A (e) | 5.250 | % | 10/01/27 | $ | 277,056 | |||||||
500 | Seminole Tribe FL Spl Oblig Rev, Ser A (e) | 5.750 | 10/01/22 | 401,210 | ||||||||||
920 | Seven Oaks, FL Cmnty Dev Dist II Spl Assmt Rev, Ser A | 5.875 | 05/01/35 | 471,325 | ||||||||||
1,870 | South Vlg Cmnty Dev Dist FL Cap Impt Rev, Ser A | 5.700 | 05/01/35 | 1,076,447 | ||||||||||
800 | Sterling Hill Cmnty Dev Dist FL Cap Impt Rev, Ser A | 6.200 | 05/01/35 | 636,512 | ||||||||||
1,060 | Tallahassee, FL Lease Rev FL St Univ Proj, Ser A (NATL Insd) | 5.500 | 08/01/18 | 1,105,071 | ||||||||||
200 | Tolomato Cmnty, FL Dev Dist Spl Assmt | 6.550 | 05/01/27 | 143,490 | ||||||||||
2,075 | Tolomato Cmnty, FL Dev Dist Spl Assmt | 6.650 | 05/01/40 | 1,405,875 | ||||||||||
1,000 | Volusia Cnty, FL Ed Fac Auth Rev Ed Fac Embry Riddle Aero, Ser A | 5.750 | 10/15/29 | 869,980 | ||||||||||
495 | World Comm Cmnty Dev Dist FL Spl Assmt | 5.500 | 05/01/38 | 196,292 | ||||||||||
61,425,791 | ||||||||||||||
Georgia 1.6% | ||||||||||||||
3,500 | Atlanta, GA Arpt Passenger Fac Charge Rev Gen Sub Lien, Ser C (FSA Insd) (a) | 5.000 | 01/01/33 | 3,483,760 | ||||||||||
1,000 | Augusta, GA Gen Arpt Rev Passenger, Ser B (AMT) | 5.350 | 01/01/28 | 660,290 | ||||||||||
1,500 | Putnam Cnty, GA Dev Auth Pollutn Ctl Rev GA Pwr Co, Ser 1 | 5.100 | 06/01/23 | 1,514,280 | ||||||||||
2,000 | Royston, GA Hosp Auth Hosp Rev Ctf Hlthcare Sys Inc Rfdg | 6.500 | 07/01/27 | 1,519,360 | ||||||||||
7,177,690 | ||||||||||||||
Idaho 0.6% | ||||||||||||||
750 | Idaho Hlth Fac Auth Rev Saint Lukes Hlth Sys Proj, Ser A | 6.500 | 11/01/23 | 804,360 | ||||||||||
1,000 | Idaho Hlth Fac Auth Rev Saint Lukes Hlth Sys Proj, Ser A | 6.750 | 11/01/37 | 1,039,780 | ||||||||||
870 | Idaho Hlth Fac Auth Rev Vly Vista Care Corp Rfdg (g) | 6.125 | 11/15/27 | 615,299 | ||||||||||
2,459,439 | ||||||||||||||
Illinois 17.5% | ||||||||||||||
1,000 | Bartlett, IL Tax Increment Rev Sr Lien Quarry Redev Proj Rfdg | 5.600 | 01/01/23 | 759,720 | ||||||||||
2,000 | Bolingbrook, IL Sales Tax Rev Bolingbrook | 6.250 | 01/01/24 | 1,160,400 | ||||||||||
7,775 | Chicago, IL Brd of Ed Rfdg, Ser C (FSA Insd) (a) | 5.000 | 12/01/27 | 7,893,025 | ||||||||||
745 | Chicago, IL Increment Alloc Rev Diversey Narragansett Proj | 7.460 | 02/15/26 | 607,585 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Illinois (Continued) | ||||||||||||||
$ | 4,000 |
Chicago, IL Neighborhoods Alive 21 Pgm, Ser A (FGIC
Insd) (Prerefunded @ 7/01/10) |
5.750 | % | 01/01/40 | $ | 4,281,120 | |||||||
5,000 | Chicago, IL OHare Intl Arpt Rev Gen Arpt Third Lien Rfdg, Ser A (NATL Insd) (AMT) | 5.375 | 01/01/32 | 4,467,450 | ||||||||||
3,500 | Chicago, IL OHare Intl Arpt Rev Gen Arpt Third Lien, Ser A (AGC Insd) (a) | 5.250 | 01/01/24 | 3,570,735 | ||||||||||
11,500 | Chicago, IL OHare Intl Arpt Rev Gen Arpt Third Lien, Ser A (AGC Insd) (a) | 5.250 | 01/01/25 | 11,693,200 | ||||||||||
4,000 | Chicago, IL OHare Intl Arpt Rev, Ser A (FSA Insd) (a) | 5.000 | 01/01/33 | 3,881,040 | ||||||||||
485 | Chicago, IL Pk Dist, Ser C (NATL Insd) | 5.500 | 01/01/19 | 508,071 | ||||||||||
465 | Chicago, IL Proj Rfdg, Ser C (NATL Insd) | 5.500 | 01/01/40 | 468,171 | ||||||||||
3,100 | Chicago, IL, Ser A (AGL Insd) | 5.250 | 01/01/25 | 3,240,275 | ||||||||||
80 | Cook Cnty, IL Sch Dist No 107 (f) | 7.000 | 12/01/10 | 87,933 | ||||||||||
545 | Cook Cnty, IL Sch Dist No 107 | 7.000 | 12/01/10 | 593,478 | ||||||||||
120 | Cook Cnty, IL Sch Dist No 107 (f) | 7.200 | 12/01/09 | 124,763 | ||||||||||
455 | Cook Cnty, IL Sch Dist No 107 | 7.200 | 12/01/09 | 471,548 | ||||||||||
982 | Cortland, IL Spl Tax Rev Sheaffer Sys Proj (Acquired 5/02/06, Cost $972,180) (d) | 5.500 | 03/01/17 | 599,118 | ||||||||||
1,000 | Deerfield, IL Ed Fac Chicagoland Jewish High Sch Proj (g) | 6.000 | 05/01/41 | 499,980 | ||||||||||
1,000 | Gilberts, IL Spl Svc Area No 19 Spl Tax The Conservancy Proj, Ser 1 (g) | 5.375 | 03/01/16 | 548,960 | ||||||||||
2,725 | Illinois Dev Fin Auth Rev Cmnty Rehab Providers Fac, Ser A | 7.375 | 07/01/25 | 2,813,971 | ||||||||||
1,565 | Illinois Ed Fac Auth Rev DePaul Univ (AMBAC Insd) (Prerefunded @ 10/01/10) | 5.625 | 10/01/15 | 1,685,317 | ||||||||||
1,125 | Illinois Fin Auth Hosp Rev Rfdg Kish Hlth Sys Oblig Group | 5.500 | 10/01/22 | 1,119,667 | ||||||||||
350 | Illinois Fin Auth Rev Christian Homes Inc Rfdg, Ser A | 5.750 | 05/15/31 | 230,734 | ||||||||||
1,000 | Illinois Fin Auth Rev IL Fin Auth Roosevelt Univ | 5.500 | 04/01/37 | 839,400 | ||||||||||
1,500 | Illinois Fin Auth Rev IL Inst of Technology, Ser A | 5.000 | 04/01/31 | 1,142,865 | ||||||||||
2,915 | Illinois Fin Auth Rev Kewanee Hosp Proj | 5.100 | 08/15/31 | 1,704,983 | ||||||||||
1,000 | Illinois Fin Auth Rev Landing at Plymouth Pl Proj, Ser A | 6.000 | 05/15/25 | 743,380 | ||||||||||
1,350 | Illinois Fin Auth Rev Landing at Plymouth Pl Proj, Ser A | 6.000 | 05/15/37 | 864,459 | ||||||||||
2,200 | Illinois Fin Auth Rev Northwestn Mem Hosp, Ser A | 5.375 | 08/15/24 | 2,221,472 | ||||||||||
1,400 | Illinois Fin Auth Rev Northwestn Mem Hosp, Ser A | 5.750 | 08/15/30 | 1,421,602 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Illinois (Continued) | ||||||||||||||
$ | 3,500 | Illinois Fin Auth Rev Osf Hlthcare Sys, Ser A | 5.750 | % | 11/15/37 | $ | 3,020,045 | |||||||
1,905 | Illinois Fin Auth Rev Rush Univ Med Ctr Oblig Group, Ser A | 7.250 | 11/01/38 | 1,992,744 | ||||||||||
3,500 | Illinois Fin Auth Rev Sherman Hlth Sys 2007, Ser A | 5.500 | 08/01/37 | 2,385,880 | ||||||||||
1,055 | Illinois Hlth Fac Auth Rev Evangelical Hosp Rfdg, Ser C (FSA Insd) | 6.750 | 04/15/12 | 1,153,716 | ||||||||||
250 | Lake Cnty, IL Cmnty Unit Sch Dist No 116 Round Lake (Radian Insd) (f) | 7.600 | 02/01/14 | 314,313 | ||||||||||
2,675 | Metropolitan Pier & Expo Auth IL Dedicated St Tax Rev McCormick Pl Expn, Ser A (NATL Insd) | 5.250 | 06/15/42 | 2,684,657 | ||||||||||
157 | Pingree Grove Vlg, IL Spl Svc Area No 1 Spl Tax Cambridge Lakes Proj, Ser 05 | 5.250 | 03/01/15 | 121,476 | ||||||||||
650 | University IL Univ Rev Auxiliary Fac Sys (NATL Insd) | 4.500 | 04/01/36 | 592,241 | ||||||||||
848 | Volo Vlg, IL Spl Svc Area No 3 Spl Tax Symphony Meadows Proj, Ser 1 | 6.000 | 03/01/36 | 495,478 | ||||||||||
675 | Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (FGIC Insd) (f) | * | 01/01/16 | 553,419 | ||||||||||
425 | Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (FGIC Insd) (f) | * | 01/01/19 | 299,566 | ||||||||||
1,335 | Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (NATL Insd) | * | 01/01/16 | 994,108 | ||||||||||
990 | Will Cnty, IL Cmnty Sch Dist No 161 Summit Hill Cap Apprec (NATL Insd) | * | 01/01/19 | 607,197 | ||||||||||
525 | Will-Kankakee Regl Dev Auth IL Multi-Family Hsg Rev Sr Estates Supportive Living (AMT) | 7.000 | 12/01/42 | 391,067 | ||||||||||
991 | Yorkville, IL Utd City Spl Svc Area Spl Tax No 2004-107 Raintree Vlg IL Proj | 6.250 | 03/01/35 | 665,833 | ||||||||||
968 | Yorkville, IL Utd City Spl Svc Area Tax No 2005-108 Autumn Creek IL Proj | 6.000 | 03/01/36 | 565,593 | ||||||||||
77,081,755 | ||||||||||||||
Indiana 2.1% | ||||||||||||||
1,000 | Allen Cnty, IN Juvenile Just Ctr First Mtg (AMBAC Insd) | 5.500 | 01/01/18 | 1,060,660 | ||||||||||
1,440 | Indiana Fin Auth Hosp Rev Deaconess Hosp Oblig, Ser A | 6.750 | 03/01/39 | 1,443,917 | ||||||||||
5,600 | Indiana Hlth & Ed Fac Fin Auth Rev Ascension Hlth Sr Cr B6 (a) | 5.000 | 11/15/36 | 5,319,384 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Indiana (Continued) | ||||||||||||||
$ | 1,500 | Petersburg, IN Pollutn Ctl Rev IN Pwr & Lt (AMT) | 5.950 | % | 12/01/29 | $ | 1,154,190 | |||||||
500 | Vigo Cnty, IN Hosp Auth Rev Un Hosp Inc (e) | 5.750 | 09/01/42 | 326,965 | ||||||||||
9,305,116 | ||||||||||||||
Iowa 0.9% | ||||||||||||||
600 | Jefferson Cnty, IA Hosp Rev Jefferson Cnty Hosp Proj, Ser C | 5.950 | 08/01/37 | 382,518 | ||||||||||
1,300 | Pottawattamie Cnty, IA Rev Christian Homes Inc Rfdg, Ser E | 5.750 | 05/15/26 | 916,396 | ||||||||||
325 | Sibley, IA Hlthcare Fac Rev Osceola Cmnty Hosp Proj | 6.000 | 12/01/37 | 207,655 | ||||||||||
1,375 | Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C | 5.375 | 06/01/38 | 771,389 | ||||||||||
1,500 | Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C | 5.500 | 06/01/42 | 842,055 | ||||||||||
1,850 | Tobacco Settlement Auth IA Tob Settlement Rev Asset Bkd, Ser C | 5.625 | 06/01/46 | 1,044,973 | ||||||||||
4,164,986 | ||||||||||||||
Kansas 1.1% | ||||||||||||||
1,400 | Burlington, KS Environmental Impt Rev KC Rfdg Pwr LT, Ser B (Syncora Gtd) (b) | 5.000 | 12/01/23 | 1,416,926 | ||||||||||
70 | Cowley Cnty, KS Uni Sch Dist No 465 Winfield Impt & Rfdg (NATL Insd) | 5.250 | 10/01/22 | 73,771 | ||||||||||
2,000 | Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser A | 5.000 | 05/15/24 | 1,495,380 | ||||||||||
1,200 | Manhattan, KS Hlthcare Fac Rev Meadowlark Hills Retirement, Ser A | 5.000 | 05/15/36 | 785,424 | ||||||||||
700 | Olathe, KS Sr Living Fac Rev Catholic Care Campus Inc, Ser A | 6.000 | 11/15/38 | 464,296 | ||||||||||
400 | Overland Pk, KS Dev Corp Rev First Tier Overland Pk, Ser A (Prerefunded @ 1/01/11) | 7.375 | 01/01/32 | 444,508 | ||||||||||
4,680,305 | ||||||||||||||
Kentucky 1.8% | ||||||||||||||
1,500 | Kentucky Econ Dev Fin Auth Louisville Arena Proj Rev Louisville Arena Sub, Ser A-1 (AGL Insd) | 5.750 | 12/01/28 | 1,553,565 | ||||||||||
1,610 | Kentucky St Ppty & Bldg Commn Rev Rfdg Proj No 93 (AGL Insd) | 5.250 | 02/01/24 | 1,714,569 | ||||||||||
1,815 | Kentucky St Ppty & Bldg Commn Rev Rfdg Proj No 93 (AGL Insd) | 5.250 | 02/01/25 | 1,918,292 | ||||||||||
3,545 | Louisville & Jefferson Cnty, KY Metro Govt Hlth Sys Rev Norton Hlthcare Inc | 5.250 | 10/01/36 | 2,873,364 | ||||||||||
8,059,790 | ||||||||||||||
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Louisiana 3.1% | ||||||||||||||
$ | 550 | Colonial Pinnacle Cmnty Dev Dist Dev | 6.750 | % | 05/01/23 | $ | 390,263 | |||||||
991 | Lakeshore Vlg Master Cmnty Dev Dist LA Spl Assmt | 5.250 | 07/01/17 | 763,952 | ||||||||||
1,350 | Louisiana Hsg Fin Agy Rev Azalea Estates Rfdg, Ser A (GNMA Collateralized) (AMT) | 5.375 | 10/20/39 | 1,351,336 | ||||||||||
1,675 | Louisiana Loc Govt Environmental Fac Pkg Fac Corp Garage Proj, Ser A (AMBAC Insd) | 5.200 | 10/01/19 | 1,713,827 | ||||||||||
2,000 | Louisiana St Ctzn Ppty Ins Corp Assmt Rev, Ser C-2 (AGL Insd) | 6.750 | 06/01/26 | 2,150,860 | ||||||||||
6,202 | Louisiana St Univ & Agric & Mechanical College Univ Rev Master Agreement (Acquired 11/30/98, Cost $6,202,000) (d) (g) | 5.750 | 10/30/18 | 5,332,042 | ||||||||||
2,000 | Rapides Fin Auth LA Rev Cleco Pwr Proj (AMT) (b) | 5.250 | 11/01/37 | 1,930,560 | ||||||||||
13,632,840 | ||||||||||||||
Maryland 1.4% | ||||||||||||||
750 | Gaithersburg, MD Econ Dev Rev Asbury MD Oblig Group A | 5.125 | 01/01/36 | 516,420 | ||||||||||
1,300 | Maryland St Cmnty Dev Admin Dept Hsg & Cmnty Dev, Ser H (AMT) | 5.100 | 09/01/37 | 1,256,437 | ||||||||||
1,000 | Maryland St Econ Dev Corp Rev Sr Lien Chesapeake Bay Rfdg, Ser A | 5.000 | 12/01/31 | 513,680 | ||||||||||
500 | Maryland St Hlth & Higher Ed Fac Auth Rev King Farm Presbyterian Cmnty, Ser A | 5.250 | 01/01/27 | 298,420 | ||||||||||
2,000 | Maryland St Hlth & Higher Ed Fac Auth Rev Mercy Med Ctr, Ser A | 5.500 | 07/01/42 | 1,627,980 | ||||||||||
1,700 | Maryland St Trans Auth Arpt Baltimore/WA Intl Arpt, Ser B (AMBAC Insd) (AMT) | 5.125 | 03/01/24 | 1,588,327 | ||||||||||
950 | Prince Georges Cnty, MD Spl Oblig Natl Harbor Proj | 5.200 | 07/01/34 | 531,078 | ||||||||||
6,332,342 | ||||||||||||||
Massachusetts 5.0% | ||||||||||||||
2,765 | Massachusetts St Dev Fin Agy Proj, Ser R-2 (NATL Insd) | 5.125 | 02/01/34 | 2,366,260 | ||||||||||
625 | Massachusetts St Dev Fin Agy Rev Boston Architectural Ctr (ACA Insd) | 6.100 | 09/01/18 | 554,431 | ||||||||||
1,000 | Massachusetts St Dev Fin Agy Rev Boston Architectural Ctr (ACA Insd) | 6.250 | 09/01/28 | 764,510 | ||||||||||
500 | Massachusetts St Dev Fin Agy Rev Linden Ponds Inc Fac, Ser A | 5.750 | 11/15/35 | 289,160 | ||||||||||
500 | Massachusetts St Dev Fin Agy Rev Linden Ponds Inc Fac, Ser A | 5.750 | 11/15/42 | 279,855 | ||||||||||
500 | Massachusetts St Hlth & Ed Fac Auth Rev Bal Structured Ylg, Ser G (NATL Insd) | 5.000 | 07/01/13 | 500,885 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Massachusetts (Continued) | ||||||||||||||
$ | 4,500 | Massachusetts St Hlth & Ed Fac Auth Rev Harvard Univ, Ser B (a) | 5.000 | % | 10/01/38 | $ | 4,649,715 | |||||||
35 | Massachusetts St Hlth & Ed Fac Auth Rev Partn Hlthcare Sys, Ser C | 5.750 | 07/01/32 | 35,329 | ||||||||||
465 | Massachusetts St Hlth & Ed Fac Auth Rev Partn Hlthcare Sys, Ser C (Prerefunded @ 7/01/11) | 5.750 | 07/01/32 | 515,708 | ||||||||||
3,350 | Massachusetts St Hlth & Ed Fac Auth Rev Univ MA Mem Issue, Ser D | 5.000 | 07/01/33 | 2,450,793 | ||||||||||
1,000 | Massachusetts St Hsg Fin Agy Hsg, Ser A (AMT) | 5.100 | 12/01/27 | 949,290 | ||||||||||
4,670 | Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev, Ser A (AMBAC Insd) (a) | 4.500 | 08/15/35 | 4,461,718 | ||||||||||
2,650 | Massachusetts St Sch Bldg Auth Dedicated Sales Tax Rev, Ser A (FSA Insd) (a) | 5.000 | 08/15/30 | 2,704,272 | ||||||||||
1,200 | Massachusetts St Wtr Res Auth, Ser B | 5.000 | 08/01/22 | 1,330,416 | ||||||||||
21,852,342 | ||||||||||||||
Michigan 3.0% | ||||||||||||||
3,860 | Detroit, MI, Ser A (Syncora Gtd) | 5.250 | 04/01/21 | 2,927,424 | ||||||||||
1,430 | Detroit, MI Wtr Supply Sys Rfdg Second Lien, Ser C (FSA Insd) | 5.000 | 07/01/26 | 1,340,525 | ||||||||||
950 | Kent Hosp Fin Auth MI Rev Metro Hosp Proj, Ser A | 5.250 | 07/01/30 | 636,947 | ||||||||||
865 | Kent Hosp Fin Auth MI Rev Metro Hosp Proj, Ser A | 6.000 | 07/01/35 | 623,630 | ||||||||||
875 | Kent Hosp Fin Auth MI Rev Spectrum Hlth, Ser A (b) | 5.250 | 01/15/47 | 895,790 | ||||||||||
400 | Kent Hosp Fin Auth MI Rev Spectrum Hlth, Ser A (b) | 5.500 | 01/15/47 | 413,200 | ||||||||||
155 | Michigan St Hsg Dev Rental Hsg Rev, Ser A (NATL Insd) (AMT) | 5.300 | 10/01/37 | 145,695 | ||||||||||
1,500 | Michigan St Strategic Fd Detroit Edison Co Proj Rfdg, Ser C (Syncora Gtd) (AMT) | 5.450 | 12/15/32 | 1,280,580 | ||||||||||
8,230 | Michigan Tob Settlement Fin Auth Tob Settlement Asset Sr, Ser A | 6.000 | 06/01/48 | 4,832,327 | ||||||||||
13,096,118 | ||||||||||||||
Minnesota 1.6% | ||||||||||||||
475 | Chisago, MN Hlthcare Fac Rev CDL Homes LLC Proj | 6.000 | 08/01/42 | 323,095 | ||||||||||
1,260 | Glencoe, MN Hlthcare Fac Rev Glencoe Regl Hlth Svc Proj | 5.000 | 04/01/31 | 934,378 | ||||||||||
1,000 | Inver Grove Heights, MN Presbyterian Homes Care Rfdg | 5.500 | 10/01/41 | 668,780 | ||||||||||
1,850 | Minneapolis, MN Hlthcare Sys Rev Fairview Hlth Svc, Ser A | 6.375 | 11/15/23 | 1,970,287 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Minnesota (Continued) | ||||||||||||||
$ | 1,200 | Minneapolis, MN Hlthcare Sys Rev Fairview Hlth Svc, Ser A | 6.625 | % | 11/15/28 | $ | 1,262,748 | |||||||
200 | North Oaks, MN Sr Hsg Rev Presbyterian Homes North Oaks | 6.000 | 10/01/27 | 160,712 | ||||||||||
500 | North Oaks, MN Sr Hsg Rev Presbyterian Homes North Oaks | 6.000 | 10/01/33 | 387,890 | ||||||||||
1,850 | Saint Paul, MN Hsg & Redev Auth Hlthcare Fac Rev Hlth Partners Oblig Group Proj | 5.250 | 05/15/36 | 1,444,610 | ||||||||||
7,152,500 | ||||||||||||||
Missouri 3.6% | ||||||||||||||
160 | Cape Girardeau Cnty, MO Indl Dev Auth Hlthcare Fac Rev Southeast MO Hosp Assoc | 5.625 | 06/01/27 | 139,989 | ||||||||||
1,000 | Carthage, MO Hosp Rev | 5.875 | 04/01/30 | 667,110 | ||||||||||
2,250 | Carthage, MO Hosp Rev | 6.000 | 04/01/38 | 1,419,795 | ||||||||||
1,300 | Cass Cnty, MO Hosp Rev | 5.625 | 05/01/38 | 965,198 | ||||||||||
1,400 | Ellisville, MO Indl Dev Auth Rev Gambrill Gardens Proj Impt & Rfdg (g) | 6.100 | 06/01/20 | 1,123,024 | ||||||||||
1,000 | Ellisville, MO Indl Dev Auth Rev Gambrill Gardens Proj Impt & Rfdg (g) | 6.200 | 06/01/29 | 718,640 | ||||||||||
385 |
Fenton, MO Tax Increment Rev & Impt Gravois Bluffs
Proj Rfdg (Prerefunded @ 10/01/11) |
7.000 | 10/01/21 | 438,388 | ||||||||||
1,000 | Joplin, MO Indl Dev Auth Indl Rev Christian Homes Inc Rfdg, Ser F | 5.750 | 05/15/31 | 659,240 | ||||||||||
1,000 | Kearney, MO (AMBAC Insd) | 5.500 | 03/01/16 | 1,066,000 | ||||||||||
860 | Maryland Heights, MO Tax Increment Rev South Heights Redev Proj Rfdg, Ser A | 5.500 | 09/01/18 | 734,268 | ||||||||||
1,200 | Missouri St Hlth & Ed Fac Auth Rev Sr Living Fac Lutheran Rfdg, Ser B | 5.125 | 02/01/27 | 894,108 | ||||||||||
1,000 | Saint Charles, MO Ctf Partn, Ser B | 5.500 | 05/01/18 | 1,037,000 | ||||||||||
675 | Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Saint Andrews Res for Srs, Ser A | 6.375 | 12/01/30 | 498,643 | ||||||||||
1,500 | Saint Louis Cnty, MO Indl Dev Auth Sr Living Fac Rev Saint Andrews Res for Srs, Ser A | 6.375 | 12/01/41 | 1,042,980 | ||||||||||
625 | Saint Louis, MO Indl Dev Auth Tax Increment & Cmnty Impt Dist Loughborough Com Redev Rfdg | 5.750 | 11/01/27 | 466,362 | ||||||||||
2,350 | Springfield, MO Pub Bldg Corp Leasehold Rev Springfield Branson Arpt, Ser B (AMBAC Insd) (AMT) | 4.550 | 07/01/29 | 1,955,717 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Missouri (Continued) | ||||||||||||||
$ | 2,625 | Springfield, MO Pub Bldg Corp Leasehold Rev Springfield Branson Arpt, Ser B (AMBAC Insd) (AMT) | 4.600 | % | 07/01/36 | $ | 2,074,590 | |||||||
15,901,052 | ||||||||||||||
Nebraska 0.6% | ||||||||||||||
2,620 | Omaha Pub Pwr Dist NE Elec Rev Sys, Ser A (a) | 5.000 | 02/01/34 | 2,630,794 | ||||||||||
Nevada 3.7% | ||||||||||||||
4,000 | Clark Cnty, NV Indl Dev Rev Southwest Gas Corp Proj, Ser A (AMBAC Insd) (AMT) | 5.250 | 07/01/34 | 2,943,120 | ||||||||||
75 | Clark Cnty, NV Indl Dev Rev Southwest Gas Corp Proj, Ser A (BHAC Insd) (AMT) | 4.750 | 09/01/36 | 59,437 | ||||||||||
25 | Nevada Hsg Div Single Family Mtg Mezz, Ser D2 (AMT) | 6.300 | 04/01/21 | 25,312 | ||||||||||
2,595 | Nevada Hsg Div Single Family Mtg Rev, Ser A (GNMA Collateralized) (AMT) | 5.875 | 04/01/38 | 2,642,592 | ||||||||||
2,860 | Nevada St Cap Impt & Cultural Affairs, Ser C | 5.000 | 06/01/22 | 3,065,863 | ||||||||||
2,220 | Nevada St Cap Impt & Cultural Affairs, Ser C | 5.000 | 06/01/23 | 2,361,214 | ||||||||||
1,570 | Reno, NV Cap Impt Rev (FGIC Insd) (Prerefunded @ 6/01/12) | 5.125 | 06/01/26 | 1,748,792 | ||||||||||
930 | Reno, NV Cap Impt Rev (NATL Insd) | 5.125 | 06/01/26 | 830,918 | ||||||||||
3,100 | Reno, NV Hosp Rev Renown Regl Med Ctr Proj, Ser A | 5.250 | 06/01/37 | 2,433,872 | ||||||||||
16,111,120 | ||||||||||||||
New Hampshire 1.4% | ||||||||||||||
4,800 | New Hampshire Higher Ed & Hlth Fac Auth Rev Daniel Webster College Issue (g) | 6.300 | 07/01/29 | 3,130,032 | ||||||||||
1,525 | New Hampshire Hlth & Ed Fac Auth Rev Derryfield Sch (Prerefunded @ 7/01/10) | 6.750 | 07/01/20 | 1,653,130 | ||||||||||
250 | New Hampshire Hlth & Ed Fac Hlthcare Sys Covenant Hlth | 5.500 | 07/01/34 | 215,618 | ||||||||||
500 | New Hampshire St Business Fin Auth Pollutn Ctl Rev The Utd Illum Co Proj, Ser A (AMT) (b) | 6.875 | 12/01/29 | 527,220 | ||||||||||
700 | New Hampshire St Business Fin Auth Pollutn Ctl Rev Utd Illum Co Proj (AMT) (b) | 7.125 | 07/01/27 | 704,305 | ||||||||||
6,230,305 | ||||||||||||||
New Jersey 9.9% | ||||||||||||||
375 | Burlington Cnty, NJ Brdg Cmnty Econ Dev Rev The Evergreens Proj | 5.625 | 01/01/38 | 226,410 | ||||||||||
1,000 | New Jersey Econ Dev Auth Econ Dev Rev Kapkowski Rd Landfill Proj Rfdg | 5.750 | 04/01/31 | 668,530 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
New Jersey (Continued) | ||||||||||||||
$ | 1,500 | New Jersey Econ Dev Auth Rev Cig Tax | 5.750 | % | 06/15/29 | $ | 1,112,325 | |||||||
1,600 | New Jersey Econ Dev Auth Rev Cig Tax | 5.750 | 06/15/34 | 1,143,568 | ||||||||||
25,000 | New Jersey Econ Dev Auth St Contract Econ Recovery (NATL Insd) (g) | 5.900 | 03/15/21 | 30,048,000 | ||||||||||
2,600 | New Jersey Hlthcare Fac Fin Auth Rev Holy Name Hosp | 5.000 | 07/01/36 | 1,805,076 | ||||||||||
1,450 | New Jersey Hlthcare Fac Fin Auth Rev Saint Peters Univ Hosp Oblig | 5.750 | 07/01/37 | 1,138,656 | ||||||||||
580 | New Jersey St Tpk Auth Tpk Rev, Ser C (FSA Insd) | 6.500 | 01/01/16 | 707,728 | ||||||||||
1,000 | New Jersey St Trans Tr Fd Auth Trans Sys, Ser A | 5.750 | 06/15/18 | 1,133,870 | ||||||||||
10,750 | Tobacco Settlement Fin Corp NJ, Ser 1A | 5.000 | 06/01/41 | 5,691,910 | ||||||||||
43,676,073 | ||||||||||||||
New Mexico 0.7% | ||||||||||||||
1,500 | Jicarilla, NM Apache Nation Rev Adj, Ser A (Acquired 1/23/03, Cost $1,514,910) (d) | 5.000 | 09/01/18 | 1,548,060 | ||||||||||
1,350 | New Mexico St Hosp Equip Ln Council Hosp Rev Presbyterian Hlthcare Svc, Ser A | 6.375 | 08/01/32 | 1,429,609 | ||||||||||
2,977,669 | ||||||||||||||
New York 13.3% | ||||||||||||||
3,000 | Metropolitan Trans Auth NY Rev Rfdg, Ser A (NATL Insd) | 5.250 | 11/15/31 | 3,003,750 | ||||||||||
1,000 | Metropolitan Transn Auth NY Dedicated Tax Fd, Ser B | 5.250 | 11/15/28 | 1,019,450 | ||||||||||
1,500 | Metropolitan Transn Auth NY Dedicated Tax Fd, Ser B | 5.250 | 11/15/30 | 1,518,135 | ||||||||||
1,600 | New York City Hsg Dev Corp Multi-Family Hsg Rev, Ser E1 (AMT) | 5.350 | 11/01/37 | 1,519,392 | ||||||||||
400 | New York City Indl Dev Agy Rev Liberty 7 World Trade Ctr Proj, Ser A | 6.250 | 03/01/15 | 338,492 | ||||||||||
2,165 | New York City Indl Dev Agy Rev Liberty 7 World Trade Ctr Proj, Ser B | 6.750 | 03/01/15 | 1,879,350 | ||||||||||
1,000 | New York City Liberty Dev Corp Rev National Sports Museum Proj, Ser A (Acquired 8/07/06, Cost $1,000,000) (d) (g) (h) | 6.125 | 02/15/19 | 1,000 | ||||||||||
2,500 | New York City Muni Wtr Fin Auth Wtr & Swr Rev, Ser AA | 5.000 | 06/15/22 | 2,655,450 | ||||||||||
8,800 | New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev, Ser D (a) | 5.000 | 06/15/38 | 8,827,104 | ||||||||||
2,500 | New York City Muni Wtr Fin Auth Wtr & Swr Sys Rev, Ser D (a) | 5.000 | 06/15/39 | 2,507,700 | ||||||||||
85 | New York City, Ser A-1 | 5.750 | 08/01/12 | 85,292 | ||||||||||
3,000 | New York City, Ser G | 5.000 | 12/01/27 | 3,010,020 | ||||||||||
4,775 | New York City, Ser I-1 (a) | 5.000 | 02/01/26 | 4,818,453 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
New York (Continued) | ||||||||||||||
$ | 1,900 | New York City Transitional Fin Auth Bldg Aid Rev Fiscal 2009, Ser S-3 | 5.250 | % | 01/15/39 | $ | 1,868,954 | |||||||
6,800 | New York St Dorm Auth Rev City Univ Sys Cons, Ser A | 5.625 | 07/01/16 | 7,475,308 | ||||||||||
350 | New York St Dorm Auth Rev Mt Sinai NYU Hlth | 5.500 | 07/01/26 | 335,713 | ||||||||||
1,000 | New York St Mtg Agy Homeowner Mtg Rev 145 (AMT) | 5.125 | 10/01/37 | 924,780 | ||||||||||
2,409 | Plainedge, NY Uni Free Sch Dist No. 2063 (Acquired 12/01/00, Cost $2,490,000) (d) | 6.000 | 06/01/12 | 2,429,766 | ||||||||||
9,900 | Port Auth NY & NJ Cons 144th (a) | 5.000 | 10/01/35 | 9,960,588 | ||||||||||
600 | Seneca Nation Indians Cap Impt Auth NY Spl Oblig, Ser A (e) | 5.000 | 12/01/23 | 385,710 | ||||||||||
3,000 | Triborough Brdg & Tunl Auth Gen Purp, Ser A | 5.000 | 01/01/27 | 3,025,140 | ||||||||||
1,000 | Westchester Tob Asset Sec Corp NY | 5.000 | 06/01/26 | 715,770 | ||||||||||
58,305,317 | ||||||||||||||
North Carolina 2.2% | ||||||||||||||
1,000 | North Carolina Med Care Commn Retirement Fac Rev First Mtg Southminster Proj, Ser A | 5.750 | 10/01/37 | 740,610 | ||||||||||
8,300 | North Carolina Muni Pwr Agy No 1 Catawba Elec Rev Rfdg (NATL Insd) | 6.000 | 01/01/12 | 9,011,725 | ||||||||||
9,752,335 | ||||||||||||||
North Dakota 0.5% | ||||||||||||||
1,500 | Grand Forks, ND Sr Hsg Rev 4000 Vly Square Proj Rfdg | 5.300 | 12/01/34 | 866,430 | ||||||||||
2,000 | Ward Cnty, ND Hlthcare Fac Rev Trinity Obligated Group Rfdg | 5.125 | 07/01/29 | 1,452,420 | ||||||||||
2,318,850 | ||||||||||||||
Ohio 8.5% | ||||||||||||||
300 | Adams Cnty Hosp Fac Impt Rev Adams Cnty Hosp Proj (g) | 6.250 | 09/01/20 | 222,591 | ||||||||||
4,990 | Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2 | 5.750 | 06/01/34 | 3,159,219 | ||||||||||
1,830 | Buckeye, OH Tob Settlement Fin Auth Asset Bkd Sr Turbo, Ser A-2 | 5.875 | 06/01/30 | 1,241,252 | ||||||||||
1,825 | Cleveland, OH Rfdg (FSA Insd) | 5.500 | 10/01/19 | 2,109,043 | ||||||||||
2,005 | Cleveland-Cuyahoga Cnty, OH Dev Port Auth Rev Cleveland Bond Fd, Ser B | 5.375 | 05/15/18 | 1,758,144 | ||||||||||
400 | Cuyahoga Cnty, OH Hlthcare & Indpt Living Fac Rev Eliza Jennings Sr Care, Ser A | 5.750 | 05/15/27 | 272,708 | ||||||||||
1,000 | Cuyahoga Cnty, OH Hosp Fac Rev Canton Inc Proj | 7.500 | 01/01/30 | 991,560 | ||||||||||
1,000 | Lorain Cnty, OH Hosp Rev Catholic Hlthcare, Ser S | 5.375 | 10/01/30 | 956,470 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Ohio (Continued) | ||||||||||||||
$ | 1,475 | Lorain Cnty, OH Hosp Rev Catholic Rfdg, Ser C-1 (FSA Insd) | 5.000 | % | 04/01/24 | $ | 1,518,144 | |||||||
2,270 | Montgomery Cnty, OH Hosp Rev Kettering Med Ctr Impt & Rfdg (NATL Insd) | 6.250 | 04/01/20 | 2,665,207 | ||||||||||
1,625 | Montgomery Cnty, OH Rev Catholic Hlth, Ser C-1 (FSA Insd) (a) | 5.000 | 10/01/41 | 1,493,505 | ||||||||||
1,550 | Montgomery Cnty, OH Rev Miami Vly Hosp, Ser A | 6.000 | 11/15/28 | 1,575,451 | ||||||||||
1,000 | Montgomery Cnty, OH Rev Miami Vly Hosp, Ser A | 6.250 | 11/15/39 | 1,016,310 | ||||||||||
8,000 | Ohio St Air Quality Dev Auth Rev Dayton Pwr (FGIC Insd) (AMT) (a) | 4.800 | 09/01/36 | 6,996,160 | ||||||||||
1,250 | Ohio St Bldg Auth St Fac Admin Bldg Fd Proj, Ser A (FSA Insd) | 5.000 | 04/01/22 | 1,292,438 | ||||||||||
1,000 | Ohio St Higher Ed Fac Commn Rev Hosp Univ Hosp Hlth Sys Inc, Ser A (BHAC Insd) | 5.250 | 01/15/46 | 1,008,750 | ||||||||||
2,000 | Ohio St Higher Ed Fac Commn Rev Univ Hosp Hlth Sys, Ser 2009A | 6.750 | 01/15/39 | 2,028,020 | ||||||||||
4,590 |
Ohio St Hsg Fin Agy Residential Mtg Rev Mtg Bkd Sec Pgm,
Ser D (GNMA Collateralized) (AMT) (a) |
5.400 | 03/01/33 | 4,475,617 | ||||||||||
2,520 | Ohio St Hsg Fin Agy Residential Mtg Rev Mtg Bkd Sec Pgm, Ser F (GNMA Collateralized) (a) | 5.500 | 09/01/39 | 2,537,338 | ||||||||||
37,317,927 | ||||||||||||||
Oklahoma 0.7% | ||||||||||||||
1,470 | Chickasaw Nation, OK Hlth Sys (e) | 6.250 | 12/01/32 | 1,203,518 | ||||||||||
1,240 | Kay Cnty, OK Home Fin Auth Rev Single Family Mtg Rfdg, Ser A (AMBAC Insd) (f) | 7.000 | 11/01/11 | 1,412,670 | ||||||||||
545 | Oklahoma Hsg Fin Agy Single Family Rev Mtg, Ser B (GNMA Collateralized) (AMT) | 7.997 | 08/01/18 | 590,611 | ||||||||||
3,206,799 | ||||||||||||||
Pennsylvania 2.5% | ||||||||||||||
1,750 | Allegheny Cnty, PA Hosp Dev Auth Rev Hlth Sys West PA, Ser A | 5.000 | 11/15/28 | 963,305 | ||||||||||
385 | Allegheny Cnty, PA San Auth Swr Rev (NATL Insd) | 5.500 | 12/01/30 | 390,598 | ||||||||||
315 | Crawford Cnty, PA Hosp Auth Sr Living Fac Rev Wesbury Utd Methodist Cmnty | 5.875 | 08/15/10 | 310,193 | ||||||||||
320 | Lehigh Cnty, PA Gen Purp Auth Rev First Mtg Bible Fellowship Proj Rfdg, Ser A (g) | 5.300 | 12/15/09 | 318,407 | ||||||||||
240 | Lehigh Cnty, PA Gen Purp Auth Rev First Mtg Bible Fellowship Proj Rfdg, Ser A (g) | 5.400 | 12/15/10 | 232,992 | ||||||||||
400 | Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Continuing Care Proj | 6.125 | 02/01/28 | 264,008 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Pennsylvania (Continued) | ||||||||||||||
$ | 875 | Montgomery Cnty, PA Indl Dev Auth Rev Mtg Whitemarsh Continuing Care Proj | 6.250 | % | 02/01/35 | $ | 539,070 | |||||||
1,000 | Pennsylvania Econ Dev Fin Auth Exempt Fac Rev Reliant Energy, Ser B (AMT) | 6.750 | 12/01/36 | 928,210 | ||||||||||
1,550 | Pennsylvania Hsg Fin Agy, Ser 94-A (AMT) | 5.100 | 10/01/31 | 1,453,528 | ||||||||||
2,000 | Pennsylvania St Tpk Com Tpk Rev Sub, Ser A (AGL Insd) | 5.000 | 06/01/39 | 2,026,800 | ||||||||||
1,000 | Philadelphia, PA Auth Indl Dev PA Arpt Sys Proj, Ser A (NATL Insd) (AMT) | 5.125 | 07/01/19 | 974,800 | ||||||||||
2,675 | Pittsburgh, PA, Ser A (AMBAC Insd) | 5.500 | 09/01/17 | 2,677,755 | ||||||||||
11,079,666 | ||||||||||||||
Rhode Island 0.2% | ||||||||||||||
1,375 | Tobacco Settlement Fin Corp, Ser A | 6.250 | 06/01/42 | 1,015,369 | ||||||||||
South Carolina 2.9% | ||||||||||||||
1,000 | Charleston Ed Excellence Fin Corp SC Rev Charleston Cnty Sch Dist (a) | 5.250 | 12/01/25 | 1,020,700 | ||||||||||
3,000 | Charleston Ed Excellence Fin Corp SC Rev Charleston Cnty Sch Dist (a) | 5.250 | 12/01/26 | 3,046,560 | ||||||||||
475 | Rock Hill, SC Util Sys Rev Comb Rfdg, Ser C (FSA Insd) | 5.125 | 01/01/13 | 490,110 | ||||||||||
1,235 | Rock Hill, SC Util Sys Rev Comb Rfdg, Ser C (FSA Insd) | 5.250 | 01/01/15 | 1,275,483 | ||||||||||
900 | South Carolina Jobs Econ Dev Auth Hlth Fac Rev First Mtg Wesley Commons Rfdg | 5.125 | 10/01/26 | 582,498 | ||||||||||
1,000 | South Carolina Jobs Econ Dev Auth Hlth Fac Rev First Mtg Wesley Commons Rfdg | 5.300 | 10/01/36 | 573,030 | ||||||||||
460 | South Carolina Jobs Econ Dev Auth Hlthcare Fac Rev First Mtg Lutheran Homes Rfdg | 5.500 | 05/01/28 | 305,900 | ||||||||||
400 | South Carolina Jobs Econ Dev Auth Hlthcare Fac Rev First Mtg Lutheran Homes Rfdg | 5.625 | 05/01/42 | 237,580 | ||||||||||
1,960 | South Carolina Jobs Econ Dev Auth Hosp Fac Rev Palmetto Hlth Alliance Rfdg, Ser A | 6.250 | 08/01/31 | 1,725,251 | ||||||||||
2,500 | South Carolina Jobs Econ Dev Auth Indl Rev Elec & Gas Co Proj, Ser A (AMBAC Insd) | 5.200 | 11/01/27 | 2,515,075 | ||||||||||
725 | South Carolina Jobs Econ Dev Auth Rev Woodlands at Furman Proj, Ser A | 6.000 | 11/15/27 | 506,362 | ||||||||||
470 | Tobacco Settlement Rev Mgmt Auth SC Tob Settlement Rev Rfdg | 5.000 | 06/01/18 | 464,778 | ||||||||||
12,743,327 | ||||||||||||||
Tennessee 2.6% | ||||||||||||||
400 | Elizabethton, TN Hlth & Ed Fac Brd Rev Hosp First Mtg Impt & Rfdg, Ser B (Prerefunded @ 7/01/12) | 8.000 | 07/01/33 | 466,088 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Tennessee (Continued) | ||||||||||||||
$ | 4,000 | Johnson City, TN Hlth & Ed Fac Brd Hosp Rev First Mtg Mtn St Hlth Rfdg, Ser A (NATL Insd) (Prerefunded @ 7/01/12) | 7.500 | % | 07/01/25 | $ | 4,555,240 | |||||||
3,000 | Johnson City, TN Hlth & Ed Fac Brd Hosp Rev First Mtg Mtn St Hlth, Ser A | 5.500 | 07/01/36 | 2,353,710 | ||||||||||
2,650 | Shelby Cnty, TN Hlth Ed & Hsg Fac Brd Rev Methodist, Ser B (FSA Insd) (a) | 5.250 | 09/01/27 | 2,672,181 | ||||||||||
1,500 | Shelby Cnty, TN Hlth Ed & Hsg Fac Brd Rev Trezevant Manor Proj, Ser A | 5.625 | 09/01/26 | 1,047,240 | ||||||||||
365 | Tennessee Hsg Dev Agy Home Ownership Pgm 2-A (AMT) | 5.700 | 07/01/31 | 365,252 | ||||||||||
11,459,711 | ||||||||||||||
Texas 19.8% | ||||||||||||||
1,575 | Alliance Arpt Auth Inc TX Spl Fac Rev FedEx Corp Proj Rfdg (AMT) | 4.850 | 04/01/21 | 1,280,443 | ||||||||||
1,250 | Austin, TX Convention Enterprises Inc Convention Ctr Second Tier Rfdg, Ser B (e) | 5.750 | 01/01/24 | 911,562 | ||||||||||
1,000 | Brazos Cnty, TX Hlth Fac Dev Oblig Grp | 5.375 | 01/01/32 | 821,440 | ||||||||||
740 | Dallas Cnty, TX Flood Ctl Dist Rfdg | 6.750 | 04/01/16 | 750,330 | ||||||||||
1,225 | Dallas, TX Civic Ctr Rfdg & Impt (AGL Insd) | 5.000 | 08/15/18 | 1,349,386 | ||||||||||
1,440 | Dallas, TX Civic Ctr Rfdg & Impt (AGL Insd) | 5.000 | 08/15/19 | 1,572,365 | ||||||||||
1,000 | Dallas-Fort Worth, TX Intl Arpt Rev Impt & Rfdg, Ser A (BHAC Insd) (AMT) | 5.500 | 11/01/31 | 943,400 | ||||||||||
700 | Dallas-Fort Worth, TX Intl Arpt Rev Jt, Ser C (NATL Insd) (AMT) | 5.750 | 11/01/18 | 701,757 | ||||||||||
1,325 | Dallas-Fort Worth, TX Intl Arpt Rev Jt, Ser C (NATL Insd) (AMT) | 6.000 | 11/01/23 | 1,327,650 | ||||||||||
5,250 | El Paso Cnty, TX Hosp Dist, Ser A (AGL Insd) (a) | 5.000 | 08/15/37 | 5,140,748 | ||||||||||
730 | Fort Worth, TX Wtr & Swr Rev Impt & Rfdg | 5.750 | 02/15/16 | 768,143 | ||||||||||
770 | Fort Worth, TX Wtr & Swr Rev Impt & Rfdg (Prerefunded @ 8/15/10) | 5.750 | 02/15/16 | 820,843 | ||||||||||
1,000 | Gulf Coast Waste Disp Auth TX Waste Mgmt, Ser D (AMT) | 4.550 | 04/01/12 | 954,380 | ||||||||||
825 | Harris Cnty, TX Hlth Fac Dev Corp Hosp Rev Rfdg Mem Hermann Hlthcare Sys, Ser B | 7.250 | 12/01/35 | 878,254 | ||||||||||
7,000 | Harris Cnty, TX Hlth Fac Dev Corp Rev ARS Christus Hlth, Ser A-3 (FSA Insd) (b) (c) | 2.500 | 07/01/31 | 7,000,000 | ||||||||||
3,450 | Harris Cnty, TX Hlth Fac Dev Corp Rev ARS Christus Hlth, Ser A-4 (FSA Insd) (b) (c) | 2.250 | 07/01/31 | 3,450,000 | ||||||||||
1,000 | Houston, TX Arpt Sys Rev Sub Lien, Ser A (FSA Insd) (AMT) | 5.625 | 07/01/30 | 964,570 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Texas (Continued) | ||||||||||||||
$ | 130 | Houston, TX Pub Impt & Rfdg (FSA Insd) | 5.750 | % | 03/01/15 | $ | 137,249 | |||||||
8,475 | Houston, TX Util Sys Rev Comb First Lien Rfdg, Ser A (FSA Insd) | 5.000 | 11/15/36 | 8,509,917 | ||||||||||
3,320 | Judson, TX Indpt Sch Dist Sch Bldg (AGL Insd) (a) | 5.000 | 02/01/37 | 3,330,358 | ||||||||||
1,100 | Lufkin, TX Hlth Fac Dev Corp Hlth Sys Rev Mem Hlth Sys East TX | 5.500 | 02/15/32 | 767,745 | ||||||||||
1,250 | Lufkin, TX Hlth Fac Dev Corp Hlth Sys Rev Mem Hlth Sys East TX | 5.500 | 02/15/37 | 846,000 | ||||||||||
1,250 | Matagorda Cnty, TX Navig Dist No 1 Rev Coll Centerpoint Energy Proj Rfdg (b) | 5.600 | 03/01/27 | 1,138,863 | ||||||||||
1,200 | MC Lennan Cnty, TX Pub Fac Corp Proj Rev | 6.625 | 06/01/35 | 1,284,240 | ||||||||||
1,000 | Mesquite, TX Hlth Fac Dev Corp Retirement Fac Christian Care Ctr, Ser A (Prerefunded @ 2/15/10) | 7.625 | 02/15/28 | 1,064,300 | ||||||||||
1,800 | Metropolitan Hlth Fac Dev Corp TX Wilson N Jones Mem Hosp Proj | 7.250 | 01/01/31 | 1,425,618 | ||||||||||
1,500 | Mission, TX Econ Dev Corp Solid Waste Disp Rev Waste Mgmt Inc Proj (AMT) (b) | 6.000 | 08/01/20 | 1,468,260 | ||||||||||
1,000 | North Central, TX Hlth Fac Dev Corp Rev Hosp Baylor Hlthcare Sys Proj, Ser A | 5.125 | 05/15/29 | 951,280 | ||||||||||
4,000 | North Central, TX Hlth Fac Dev Hosp Childrens Med Ctr Dallas (AMBAC Insd) | 5.250 | 08/15/32 | 3,749,560 | ||||||||||
1,000 | North TX Twy Auth Rev Rfdg Sys First Tier, Ser B | 5.625 | 01/01/28 | 1,010,500 | ||||||||||
1,000 | North TX Twy Auth Rev Rfdg Sys First Tier, Ser B | 6.000 | 01/01/26 | 1,046,650 | ||||||||||
1,250 | North TX Twy Auth Rev Rfdg Sys First Tier, Ser B | 6.000 | 01/01/27 | 1,302,150 | ||||||||||
1,550 | North TX Twy Auth Rev Rfdg Sys First Tier, Ser L-2 (b) | 6.000 | 01/01/38 | 1,607,552 | ||||||||||
2,850 | North TX Twy Auth Rev Toll Second Tier Rfdg, Ser F | 5.750 | 01/01/33 | 2,722,206 | ||||||||||
3,027 | Region One Ed Svc Ctr Sub Tech Fac Proj (Acquired 12/30/97, Cost $3,157,260) (d) | 6.590 | 12/15/17 | 3,357,914 | ||||||||||
1,000 | Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckingham Sr Living Cmnty Inc | 5.625 | 11/15/27 | 709,970 | ||||||||||
2,700 | Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckingham Sr Living Cmnty Inc | 5.750 | 11/15/37 | 1,777,545 | ||||||||||
5,500 | Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac Buckner Retirement Svc Inc Proj | 5.250 | 11/15/37 | 4,295,445 |
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
Texas (Continued) | ||||||||||||||
$ | 450 | Tarrant Cnty, TX Cultural Ed Fac Fin Corp Retirement Fac CC Young Mem Home Proj | 5.750 | % | 02/15/25 | $ | 319,325 | |||||||
3,300 | Tarrant Cnty, TX Cultural Ed Fac Fin Corp Rev Christus Hlth Rfdg, Ser A (AGL Insd) | 6.250 | 07/01/28 | 3,552,615 | ||||||||||
2,500 | Texas A & M Univ Rev Fin Sys, Ser A | 5.000 | 05/15/27 | 2,637,275 | ||||||||||
80 | Texas Muni Pwr Agy Rev (NATL Insd) (f) | * | 09/01/15 | 67,358 | ||||||||||
165 | Texas St Pub Ppty Fin Corp Rev Mental Hlth & Retardation Rfdg (FSA Insd) | 5.500 | 09/01/13 | 166,521 | ||||||||||
5,750 | Texas St Trans Commn Mobility Fd (a) | 5.000 | 04/01/28 | 5,997,768 | ||||||||||
3,500 | Tyler, TX Hlth Fac Dev Corp Hosp Rev & Impt East TX Med Ctr Rfdg, Ser A | 5.375 | 11/01/37 | 2,427,670 | ||||||||||
87,307,125 | ||||||||||||||
Utah 0.1% | ||||||||||||||
800 | Utah St Charter Sch Fin Auth Charter Sch Rev Summit Academy, Ser A | 5.800 | 06/15/38 | 555,256 | ||||||||||
Vermont 0.1% | ||||||||||||||
1,000 | Vermont Econ Dev Auth Mtg Rev Wake Robin Corp Proj, Ser A | 5.375 | 05/01/36 | 628,850 | ||||||||||
Virginia 1.5% | ||||||||||||||
750 | Peninsula Town Ctr Cmnty Dev Auth VA Spl Oblig | 6.350 | 09/01/28 | 501,525 | ||||||||||
1,340 | Richmond, VA (FSA Insd) | 5.500 | 01/15/10 | 1,388,159 | ||||||||||
2,590 | Tobacco Settlement Fin Corp VA | 5.500 | 06/01/26 | 2,904,504 | ||||||||||
2,000 | White Oak Vlg Shops VA Cmnty Dev Auth Spl Assmt Rev | 5.300 | 03/01/17 | 1,663,660 | ||||||||||
6,457,848 | ||||||||||||||
Washington 2.5% | ||||||||||||||
5,000 | Bellevue, WA Convention Ctr Auth Spl Oblig Rev Rfdg (NATL Insd) | * | 02/01/24 | 2,337,500 | ||||||||||
3,000 | Energy Northwest WA Elec Rev Proj No 3 Rfdg, Ser A (FSA Insd) | 5.500 | 07/01/18 | 3,215,220 | ||||||||||
1,350 | Kalispel Tribe Indians Priority Dist WA Rev | 6.625 | 01/01/28 | 1,004,252 | ||||||||||
2,000 | Port Seattle, WA Rev, Ser B (NATL Insd) (AMT) | 5.625 | 02/01/24 | 2,002,320 | ||||||||||
1,345 | Tacoma, WA Elec Sys Rev Rfdg, Ser A (FSA Insd) | 5.750 | 01/01/15 | 1,441,302 | ||||||||||
1,545 | Washington St Hsg Fin Commn Nonprofit Rev Custodial Rcpt Wesley Homes, Ser 2007A-2027 (Acquired 5/7/08, Cost $1,545,000) (d) (g) | 6.000 | 01/01/27 | 1,167,819 | ||||||||||
11,168,413 | ||||||||||||||
Par |
||||||||||||||
Amount |
||||||||||||||
(000) | Description | Coupon | Maturity | Value | ||||||||||
West Virginia 1.1% | ||||||||||||||
$ | 3,500 | Harrison Cnty, WV Cnty Cmnty Solid Waste Disp Rev Allegheny Energy Rfdg, Ser D (AMT) | 5.500 | % | 10/15/37 | $ | 2,826,635 | |||||||
1,000 | West Virginia St Hosp Fin Auth Hosp Rev Thomas Hlth Sys | 6.000 | 10/01/20 | 883,050 | ||||||||||
1,100 | West Virginia St Hosp Fin Auth Hosp Rev Thomas Hlth Sys | 6.250 | 10/01/23 | 941,545 | ||||||||||
4,651,230 | ||||||||||||||
Wisconsin 3.2% | ||||||||||||||
450 | Superior, WI Collateralized Util Rev Superior Wtr Lt & Pwr Proj Rfdg, Ser A (AMT) | 5.375 | 11/01/21 | 403,565 | ||||||||||
410 | Superior, WI Collateralized Util Rev Superior Wtr Lt & Pwr Proj Rfdg, Ser B (AMT) | 5.750 | 11/01/37 | 343,580 | ||||||||||
2,545 | Wisconsin Hsg & Econ Dev Auth Home Ownership Rev, Ser A (AMT) (a) | 5.300 | 09/01/23 | 2,577,322 | ||||||||||
3,200 | Wisconsin Hsg & Econ Dev Auth Home Ownership Rev, Ser A (AMT) (a) | 5.500 | 09/01/28 | 3,180,928 | ||||||||||
1,010 | Wisconsin St Gen Rev Appropriation Rev, Ser A | 5.375 | 05/01/25 | 1,041,128 | ||||||||||
5,000 | Wisconsin St Hlth & Ed Fac Auth Mercy Hlth Sys Corp (AMBAC Insd) | 5.500 | 08/15/25 | 4,432,650 | ||||||||||
400 | Wisconsin St Hlth & Ed Fac Auth Rev Beaver Dam Cmnty Hosp Inc, Ser A | 6.000 | 08/15/19 | 314,924 | ||||||||||
465 | Wisconsin St Hlth & Ed Fac Auth Rev Ministry Hlth (FSA Insd) | 5.000 | 08/01/34 | 427,488 | ||||||||||
1,305 | Wisconsin St Hlth & Ed Fac Auth Rev Prohealth Care Inc Oblig Group | 6.625 | 02/15/39 | 1,312,765 | ||||||||||
14,034,350 | ||||||||||||||
Wyoming 0.2% | ||||||||||||||
1,000 | Sweetwater Cnty, WY Solid Waste Disp Rev FMC Corp Proj Rfdg (AMT) | 5.600 | 12/01/35 | 746,510 | ||||||||||
Guam 0.6% | ||||||||||||||
3,465 | Guam Pwr Auth Rev, Ser A (AMBAC Insd) | 5.250 | 10/01/34 | 2,739,983 | ||||||||||
Puerto Rico 0.0% | ||||||||||||||
65 | Puerto Rico Pub Bldgs Auth Rev Govt Fac, Ser I (Comwth Gtd) (Prerefunded @ 7/01/14) | 5.250 | 07/01/33 | 73,801 | ||||||||||
Total Investments 178.0%
(Cost $878,987,101) |
783,214,417 |
Description | Value | |||||||||||||
Liability for Floating Rate Note Obligations Related to
Securities Held (21.7%)
(Cost ($95,420,000)) |
||||||||||||||
(95,420 | ) | Notes with interest rates ranging from 0.51% to 1.74% at April 30, 2009 and contractual maturities of collateral ranging from 2023 to 2041 (j) | $ | (95,420,000 | ) | |||||||||
Total Net Investments 156.3%
(Cost $783,567,101) |
687,794,417 | |||||||||||||
Other Assets in Excess of Liabilities 2.8%
|
12,236,604 | |||||||||||||
Preferred Shares (including accrued
distributions) (59.1%)
|
(260,032,521 | ) | ||||||||||||
Net Assets Applicable to Common Shares 100.0%
|
$ | 439,998,500 | ||||||||||||
* | Zero coupon bond | |
(a) | Underlying security related to Inverse Floaters entered into by the Trust. See Note 1. | |
(b) | Variable Rate Coupon | |
(c) | Security includes a feature allowing the Trust an option on any interest rate payment date to offer the security for sale at par. The sale is contingent upon market conditions. | |
(d) | Security is restricted and may be resold only in transactions exempt from registration which are normally those transactions with qualified institutional buyers. Restricted securities comprise 4.1% of net assets applicable to common shares. | |
(e) | 144A-Private Placement security which is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. This security may only be resold in transactions exempt from registration which are normally those transactions with qualified institutional buyers. | |
(f) | Escrowed to Maturity | |
(g) | Security has been deemed illiquid. | |
(h) | Non-income producing security. | |
(i) | Security is a step up bond where the coupon increases or steps up at a predetermined date. | |
(j) | Floating rate notes. The interest rates shown reflect the rate in effect at April 30, 2009. |
Assets:
|
||||||
Total Investments (Cost $878,987,101)
|
$ | 783,214,417 | ||||
Receivables:
|
||||||
Interest
|
13,308,630 | |||||
Investments Sold
|
804,986 | |||||
Other
|
1,655 | |||||
Total Assets
|
797,329,688 | |||||
Liabilities:
|
||||||
Payables:
|
||||||
Floating Rate Note Obligations
|
95,420,000 | |||||
Custodian Bank
|
723,469 | |||||
Investment Advisory Fee
|
279,214 | |||||
Other Affiliates
|
26,691 | |||||
Trustees Deferred Compensation and Retirement Plans
|
580,648 | |||||
Accrued Expenses
|
268,645 | |||||
Total Liabilities
|
97,298,667 | |||||
Preferred Shares (including accrued distributions)
|
260,032,521 | |||||
Net Assets Applicable to Common Shares
|
$ | 439,998,500 | ||||
Net Asset Value Per Common Share ($439,998,500 divided by
38,876,005
shares outstanding) |
$ | 11.32 | ||||
Net Assets Consist of:
|
||||||
Common Shares ($0.01 par value with an unlimited number of
shares authorized, 38,876,005 shares issued
and outstanding)
|
$ | 388,760 | ||||
Paid in Surplus
|
581,613,414 | |||||
Accumulated Undistributed Net Investment Income
|
9,300,893 | |||||
Accumulated Net Realized Loss
|
(55,531,883 | ) | ||||
Net Unrealized Depreciation
|
(95,772,684 | ) | ||||
Net Assets Applicable to Common Shares
|
$ | 439,998,500 | ||||
Preferred Shares ($0.01 par value, authorized
100,000,000 shares, 10,400 issued with liquidation
preference of $25,000 per share)
|
$ | 260,000,000 | ||||
Net Assets Including Preferred Shares
|
$ | 699,998,500 | ||||
Investment Income:
|
||||||
Interest
|
$ | 23,987,324 | ||||
Expenses:
|
||||||
Investment Advisory Fee
|
2,012,905 | |||||
Interest and Residual Trust Expenses
|
765,237 | |||||
Preferred Share Maintenance
|
328,655 | |||||
Professional Fees
|
108,269 | |||||
Accounting and Administrative Expenses
|
90,870 | |||||
Transfer Agent Fees
|
51,104 | |||||
Reports to Shareholders
|
37,393 | |||||
Custody
|
29,761 | |||||
Registration Fees
|
14,480 | |||||
Trustees Fees and Related Expenses
|
9,927 | |||||
Depreciation in Trustees Deferred
Compensation Accounts
|
(135,559 | ) | ||||
Other
|
12,862 | |||||
Total Expenses
|
3,325,904 | |||||
Investment Advisory Fee Reduction
|
365,983 | |||||
Net Expenses
|
2,959,921 | |||||
Net Investment Income
|
$ | 21,027,403 | ||||
Realized and Unrealized Gain/Loss:
|
||||||
Net Realized Loss:
|
$ | (11,671,785 | ) | |||
Unrealized Appreciation/Depreciation:
|
||||||
Beginning of the Period
|
(131,431,647 | ) | ||||
End of the Period
|
(95,772,684 | ) | ||||
Net Unrealized Appreciation During the Period
|
35,658,963 | |||||
Net Realized and Unrealized Gain
|
$ | 23,987,178 | ||||
Distributions to Preferred Shareholders
|
$ | (1,050,773 | ) | |||
Net Increase in Net Assets Applicable to Common Shares
from Operations
|
$ | 43,963,808 | ||||
For The |
For The |
|||||||
Six Months
Ended |
Year Ended |
|||||||
April 30, 2009 | October 31, 2008 | |||||||
From Investment Activities:
|
||||||||
Operations:
|
||||||||
Net Investment Income
|
$ | 21,027,403 | $ | 45,313,019 | ||||
Net Realized Loss
|
(11,671,785 | ) | (34,003,750 | ) | ||||
Net Unrealized Appreciation/Depreciation During the Period
|
35,658,963 | (154,932,547 | ) | |||||
Distributions to Preferred Shareholders:
|
||||||||
Net Investment Income
|
(1,050,773 | ) | (9,628,094 | ) | ||||
Change in Net Assets Applicable to Common Shares
from Operations
|
43,963,808 | (153,251,372 | ) | |||||
Distributions to Common Shareholders:
|
||||||||
Net Investment Income
|
(16,319,534 | ) | (31,701,941 | ) | ||||
Net Change in Net Assets Applicable to Common Shares from
Investment Activities
|
27,644,274 | (184,953,313 | ) | |||||
From Capital Transactions:
|
||||||||
Value of Common Shares Issued Through
Dividend Reinvestment |
313,454 | 1,035,490 | ||||||
Repurchase of Shares
|
(80,721 | ) | (3,679,518 | ) | ||||
Net Change in Net Assets Applicable to Common Shares from
Capital Transactions
|
232,733 | (2,644,028 | ) | |||||
Total Increase in Net Assets Applicable to
Common Shares
|
27,877,007 | (187,597,341 | ) | |||||
Net Assets Applicable to Common Shares:
|
||||||||
Beginning of the Period
|
412,121,493 | 599,718,834 | ||||||
End of the Period (Including accumulated undistributed net
investment income of $9,300,893 and
$5,643,797, respectively) |
$ | 439,998,500 | $ | 412,121,493 | ||||
Change in Net Assets from Operations (including
Preferred Share Distributions)
|
$ | 43,963,808 | ||||
Adjustments to Reconcile the Change in Net Assets from
Operations to Net Cash Provided by Operating Activities:
|
||||||
Purchases of Investments
|
(82,620,111 | ) | ||||
Proceeds from Sales of Investments
|
105,156,185 | |||||
Net Sales of Short-Term Investments
|
2,600,000 | |||||
Amortization of Premium
|
415,854 | |||||
Accretion of Discount
|
(751,925 | ) | ||||
Net Realized Loss on Investments
|
11,671,785 | |||||
Net Change in Unrealized Depreciation on Investments
|
(35,658,963 | ) | ||||
Increase in Interest Receivables
|
(360,117 | ) | ||||
Decrease in Other Assets
|
8,310 | |||||
Decrease in Receivable for Investments Sold
|
52,991 | |||||
Decrease in Investment Advisory Fee Payable
|
(6,762 | ) | ||||
Decrease in Accrued Expenses
|
(67,694 | ) | ||||
Decrease in Other Affiliates Payable
|
(8,987 | ) | ||||
Decrease in Trustees Deferred Compensation and
Retirement Plans
|
(133,249 | ) | ||||
Decrease in Investments Purchased Payable
|
(3,672,387 | ) | ||||
Increase in Custodian Bank Payable
|
723,469 | |||||
Total Adjustments
|
(2,651,601 | ) | ||||
Net Cash Provided by Operating Activities
|
41,312,207 | |||||
Cash Flows From Financing Activities
|
||||||
Repurchased Shares
|
(80,721 | ) | ||||
Dividends Paid (net of reinvested dividends $313,454)
|
(16,197,440 | ) | ||||
Proceeds from and Repayments of Floating Rate
Note Obligations
|
(25,505,000 | ) | ||||
Net Cash Used for Financing Activities
|
(41,783,161 | ) | ||||
Net Decrease in Cash
|
(470,954 | ) | ||||
Cash at the Beginning of the Period
|
470,954 | |||||
Cash at the End of the Period
|
$ | -0- | ||||
Supplemental Disclosures of Cash Flow Information
|
||||||
Cash Paid During the Period for Interest
|
$ | 765,237 | ||||
Six Months |
||||||||||||||||||||||||||
Ended |
||||||||||||||||||||||||||
April 30, |
Year Ended October 31, | |||||||||||||||||||||||||
2009 | 2008 | 2007 | 2006 | 2005 | 2004 | |||||||||||||||||||||
Net Asset Value, Beginning of the Period
|
$ | 10.61 | $ | 15.35 | $ | 16.33 | $ | 16.15 | $ | 16.60 | $ | 16.25 | ||||||||||||||
Net Investment Income
|
0.54 | (a) | 1.17 | (a) | 1.09 | (a) | 1.02 | (a) | 1.02 | 1.03 | ||||||||||||||||
Net Realized and Unrealized Gain/Loss
|
0.62 | (4.84 | ) | (0.97 | ) | 0.48 | (0.41 | ) | 0.37 | |||||||||||||||||
Common Share Equivalent of Distributions Paid to Preferred
Shareholders:
|
||||||||||||||||||||||||||
Net Investment Income
|
(0.03 | ) | (0.25 | ) | (0.31 | ) | (0.24 | ) | (0.18 | ) | (0.09 | ) | ||||||||||||||
Net Realized Gain
|
-0- | -0- | -0- | (0.05 | ) | -0- | -0- | (f) | ||||||||||||||||||
Total from Investment Operations
|
1.13 | (3.92 | ) | (0.19 | ) | 1.21 | 0.43 | 1.31 | ||||||||||||||||||
Distributions Paid to Common Shareholders:
|
||||||||||||||||||||||||||
Net Investment Income
|
(0.42 | ) | (0.82 | ) | (0.79 | ) | (0.79 | ) | (0.88 | ) | (0.94 | ) | ||||||||||||||
Net Realized Gain
|
-0- | -0- | -0- | (0.24 | ) | -0- | (0.02 | ) | ||||||||||||||||||
Net Asset Value, End of the Period
|
$ | 11.32 | $ | 10.61 | $ | 15.35 | $ | 16.33 | $ | 16.15 | $ | 16.60 | ||||||||||||||
Common Share Market Price at End of the Period
|
$ | 11.40 | $ | 10.15 | $ | 13.85 | $ | 14.86 | $ | 14.02 | $ | 14.90 | ||||||||||||||
Total
Return* (b)
|
16.92% | ** | 22.15% | 1.88% | 13.84% | 0.01% | 9.15% | |||||||||||||||||||
Net Assets Applicable to
Common Shares at End of the Period (In millions) |
$ | 440.0 | $ | 412.1 | $ | 599.7 | $ | 643.1 | $ | 635.9 | $ | 603.6 | ||||||||||||||
Ratio of Expenses to Average Net Assets Applicable to Common
Shares* (c)
|
1.45% | 2.05% | 2.14% | 1.23% | 1.06% | 1.19% | ||||||||||||||||||||
Ratio of Net Investment Income to Average Net Assets Applicable
to Common
Shares* (c)
|
10.27% | 8.31% | 6.84% | 6.40% | 6.21% | 6.24% | ||||||||||||||||||||
Portfolio Turnover
|
11% | ** | 67% | 25% | 28% | 33% | 19% | |||||||||||||||||||
* If
certain expenses had not been voluntarily assumed by
Van Kampen, total return would have been lower and the
ratios would have been as follows:
|
||||||||||||||||||||||||||
Ratio of
Expenses to Average Net Assets Applicable to
Common Shares (c)
|
1.62% | 2.21% | 2.28% | N/A | N/A | N/A | ||||||||||||||||||||
Ratio of Net
Investment Income to Average Net Assets Applicable to
Common Shares (c)
|
10.09% | 8.15% | 6.70% | N/A | N/A | N/A | ||||||||||||||||||||
Supplemental Ratios: | ||||||||||||||||||||||||||
Ratio of Expenses (Excluding Interest and Residual
Trust Expenses) to Average Net Assets Applicable to
Common Shares (c)
|
1.07% | 0.96% | 0.95% | 1.11% | 1.06% | 1.19% | ||||||||||||||||||||
Ratio of Expenses (Excluding Interest and Residual
Trust Expense) to Average Net Assets Including
Preferred Shares (c)
|
0.66% | 0.61% | 0.63% | 0.73% | 0.71% | 0.79% | ||||||||||||||||||||
Ratio of Net Investment Income to Average Net Assets Applicable
to Common Shares (d)
|
9.75% | 6.55% | 4.92% | 4.91% | 5.12% | 5.70% | ||||||||||||||||||||
Senior Securities: | ||||||||||||||||||||||||||
Total Preferred Shares Outstanding
|
10,400 | 10,400 | 13,000 | 13,000 | 13,000 | 12,000 | ||||||||||||||||||||
Asset Coverage Per Preferred Share (e)
|
$ | 67,311 | $ | 64,637 | $ | 71,143 | $ | 74,490 | $ | 73,933 | $ | 75,312 | ||||||||||||||
Involuntary Liquidating Preference Per Preferred Share
|
$ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | ||||||||||||||
Average Market Value Per Preferred Share
|
$ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 | $ | 25,000 |
** | Non-Annualized | |
(a) | Based on average shares outstanding. | |
(b) | Total return assumes an investment at the common share market price at the beginning of the period indicated, reinvestment of all distributions for the period in accordance with the Trusts dividend reinvestment plan, and sale of all shares at the closing common share market price at the end of the period indicated. | |
(c) | Ratios do not reflect the effect of dividend payments to preferred shareholders. | |
(d) | Ratios reflect the effect of dividend payments to preferred shareholders. | |
(e) | Calculated by subtracting the Trusts total liabilities (not including the preferred shares) from the Trusts total assets and dividing this by the number of preferred shares outstanding. | |
(f) | Amount is less than $0.01 per share. |
Level 1 | quoted prices in active markets for identical investments |
Level 2 | other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
Level 3 | significant unobservable inputs (including the Trusts own assumptions in determining the fair value of investments) |
Investments in |
||||
Valuation Inputs | Securities | |||
Level 1Quoted Prices
|
$ | -0- | ||
Level 2Other Significant Observable Inputs
|
783,214,417 | |||
Level 3Significant Unobservable Inputs
|
-0- | |||
Total
|
$ | 783,214,417 | ||
Amount | Expiration | |||||||
$ | 468,317 | October 31, 2009 | ||||||
929,222 | October 31, 2010 | |||||||
2,903,782 | October 31, 2012 | |||||||
593,665 | October 31, 2014 | |||||||
6,620,583 | October 31, 2015 | |||||||
33,973,006 | October 31, 2016 |
Cost of investments for tax purposes
|
$ | 770,224,510 | ||
Gross tax unrealized appreciation
|
19,488,468 | |||
Gross tax unrealized depreciation
|
(101,905,923 | ) | ||
Net tax unrealized depreciation on investments
|
$ | (82,417,455 | ) | |
Distributions paid from:
|
||||
Ordinary income
|
$ | 15,123 | ||
Tax exempt income
|
41,341,380 | |||
Long-term capital gain
|
-0- | |||
$ | 41,356,503 | |||
Undistributed ordinary income
|
$ | 53,907 | ||
Undistributed tax-exempt income
|
5,986,777 | |||
Undistributed long-term capital gain
|
-0- |
Six Months
Ended |
Year Ended |
|||||||
April 30, 2009 | October 31, 2008 | |||||||
Beginning Shares
|
38,856,411 | 39,063,367 | ||||||
Shares Issued Through Dividend Reinvestment
|
28,229 | 73,379 | ||||||
Shares Repurchased*
|
(8,635 | ) | (280,335 | ) | ||||
Ending Shares
|
38,876,005 | 38,856,411 | ||||||
* | The Trust has a share repurchase program for purposes of enhancing stockholder value and reducing the discount at which the Trusts shares trade from their net asset value. For the six months ended April 30, 2009 and the year ended October 31, 2008, the Trust repurchased 8,600 and 280,335, respectively of its shares at an average discount of 11.28% and 8.12% respectively from net asset value per share. The Trust expects to continue to repurchase its outstanding shares at such time and in such amounts as it believes such activity will further the accomplishment of the foregoing objectives, subject to review of the Trustees. |
Board
of Trustees David C. Arch Jerry D. Choate Rod Dammeyer Linda Hutton Heagy R. Craig Kennedy Howard J Kerr Jack E. Nelson Hugo F. Sonnenschein Wayne W. Whalen* Chairman Suzanne H. Woolsey Officers Edward C. Wood III President and Principal Executive Officer Kevin Klingert Vice President Stefanie V. Chang Yu Vice President and Secretary John L. Sullivan Chief Compliance Officer Stuart N. Schuldt Chief Financial Officer and Treasurer |
Investment
Adviser Van Kampen Asset Management 522 Fifth Avenue New York, New York 10036 Custodian State Street Bank and Trust Company One Lincoln Street Boston, Massachusetts 02111 Transfer Agent Computershare Trust Company, N.A. c/o Computershare Investor Services P.O. Box 43078 Providence, Rhode Island 02940-3078 Legal Counsel Skadden, Arps, Slate, Meagher & Flom LLP 155 North Wacker Drive Chicago, IL 60606 Independent Registered Public Accounting Firm Deloitte & Touche LLP 111 South Wacker Drive Chicago, Illinois 60606-4301 |
* | Interested persons of the Trust, as defined in the Investment Company Act of 1940, as amended. |
| We collect information such as your name, address, e-mail address, phone number and account title. |
| We may obtain information about account balances, your use of account(s) and the types of products and services you prefer to receive from us through your dealings and transactions with us and other sources. | ||
| We may obtain information about your creditworthiness and credit history from consumer reporting agencies. | ||
| We may collect background information from and through third-party vendors to verify representations you have made and to comply with various regulatory requirements. | ||
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|
Calling us at
(800) 847-2424 Monday-Friday between 8 a.m. and 8 p.m. (ET) |
||
|
Writing to us at the
following address: Van Kampen Privacy Department Harborside Financial Center, Plaza Two, 3rd Floor Jersey City, NJ 07311 |
Van Kampen
Privacy Department Harborside Financial Center, Plaza Two, 3rd Floor Jersey City, NJ 07311 |
Total Number of | ||||||||||||||||
Shares Purchased | Maximum Number | |||||||||||||||
as | of Shares that may | |||||||||||||||
Part of Publicly | yet be Purchased | |||||||||||||||
Total Number of | Average Price | Announced Plans | Under the Plans or | |||||||||||||
Period | Shares Purchased | Paid per Share | or Programs | Programs | ||||||||||||
November |
8,600 | 9.36 | 8,600 | 3,325,528 | ||||||||||||
December |
3,325,528 | |||||||||||||||
January |
3,325,528 | |||||||||||||||
February |
3,325,528 | |||||||||||||||
March |
3,325,528 | |||||||||||||||
April |
3,325,528 |