Portfolio of Investments (Unaudited)
|
|||||
Nuveen Texas Quality Income Municipal Fund (NTX)
|
|||||
November 30, 2013
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
LONG-TERM INVESTMENTS – 146.7% (100% OF TOTAL INVESTMENTS)
|
|||||
MUNICIPAL BONDS – 146.7% (100% OF TOTAL INVESTMENTS)
|
|||||
Consumer Discretionary – 1.7% (1.1% of Total Investments)
|
|||||
Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, First Tier
|
|||||
Series 2006A:
|
|||||
$ 1,450
|
5.250%, 1/01/18 – SYNCORA GTY Insured
|
1/17 at 100.00
|
BB+
|
$ 1,499,561
|
|
1,000
|
5.000%, 1/01/34 – SYNCORA GTY Insured
|
1/17 at 100.00
|
BB+
|
901,370
|
|
2,450
|
Total Consumer Discretionary
|
2,400,931
|
|||
Consumer Staples – 1.2% (0.8% of Total Investments)
|
|||||
1,895
|
Puerto Rico, The Children‘s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
|
2/14 at 100.00
|
BBB+
|
1,767,846
|
|
Series 2002, 5.375%, 5/15/33
|
|||||
Education and Civic Organizations – 13.1% (9.0% of Total Investments)
|
|||||
2,000
|
Board of Regents, University of Texas System, Financing System Revenue Bonds, Refunding Series
|
No Opt. Call
|
AAA
|
2,386,220
|
|
2012B, 5.000%, 8/15/22
|
|||||
Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education
|
|||||
Charter School, Series 2013A:
|
|||||
1,000
|
4.350%, 12/01/42
|
12/22 at 100.00
|
BBB–
|
783,620
|
|
1,000
|
4.400%, 12/01/47
|
12/22 at 100.00
|
BBB–
|
760,880
|
|
1,000
|
Danbury Higher Education Authority, Texas, Charter School Revenue Bonds, John H. Wood Jr.
|
8/23 at 100.00
|
BBB–
|
1,004,270
|
|
Public Charter District, Inspire Academies, Series 2013A, 6.000%, 8/15/28
|
|||||
1,000
|
Hale Center Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist University
|
3/21 at 100.00
|
A–
|
1,004,760
|
|
Project, Improvement and Refunding Series 2010, 5.000%, 3/01/35
|
|||||
1,000
|
Harris County Cultural Education Facilities Finance Corporation, Texas, Medical Facilities Revenue
|
11/22 at 100.00
|
A–
|
1,061,620
|
|
Refunding Bonds, Baylor College of Medicine, Series 2012A, 5.000%, 11/15/26
|
|||||
3,000
|
Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding
|
6/23 at 100.00
|
Baa3
|
2,765,340
|
|
Bonds, Young Men‘s Christian Association of the Greater Houston Area, Series 2013A,
|
|||||
5.000%, 6/01/38
|
|||||
2,000
|
Laredo Community College District, Webb County, Texas, Combined Fee Revenue Bonds, Series
|
8/20 at 100.00
|
AA–
|
2,083,160
|
|
2010, 5.250%, 8/01/35 – AGM Insured
|
|||||
2,000
|
Lone Star College System, Harris, Montgomery and San Jacinto Counties, Texas, Revenue
|
2/21 at 100.00
|
AA
|
2,073,340
|
|
Financing System Bonds, Series 2013, 5.000%, 2/15/36
|
|||||
200
|
Newark Cultural Education Facilities Finance Corporation, Texas, Lease Revenue Bonds, A.W.
|
2/15 at 103.00
|
BBB–
|
192,314
|
|
Brown-Fellowship Leadership Academy, Series 2012A, 6.000%, 8/15/42
|
|||||
Red River Education Finance Corporation, Texas, Revenue Bonds, Hockaday School, Series 2005:
|
|||||
1,170
|
5.000%, 5/15/27
|
5/15 at 100.00
|
AA
|
1,222,322
|
|
1,230
|
5.000%, 5/15/28
|
5/15 at 100.00
|
AA
|
1,283,923
|
|
1,290
|
5.000%, 5/15/29
|
5/15 at 100.00
|
AA
|
1,344,451
|
|
890
|
Texas State University System, Financing Revenue Bonds, Series 2004, 5.000%, 3/15/24 –
|
9/14 at 100.00
|
Aa2
|
922,975
|
|
AGM Insured
|
|||||
18,780
|
Total Education and Civic Organizations
|
18,889,195
|
|||
Health Care – 11.9% (8.1% of Total Investments)
|
|||||
1,000
|
Harris County Cultural Educaion Facilities Finance Corporation, Texas, Hospital Revenue Bonds,
|
12/22 at 100.00
|
A+
|
1,001,070
|
|
Memorial Hermann Healthcare System, Refunding Series 2013A, 5.000%, 12/01/35
|
|||||
1,350
|
Harrison County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good
|
7/20 at 100.00
|
BBB+
|
1,333,017
|
|
Shepherd Health System, Refunding Series 2010, 5.250%, 7/01/28
|
|||||
1,000
|
Lufkin Health Facilities Development Corporation, Texas, Health System Revenue Bonds, Memorial
|
2/17 at 100.00
|
BBB–
|
980,200
|
|
Health System of East Texas, Series 2007, 5.500%, 2/15/32
|
|||||
2,000
|
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds,
|
8/19 at 100.00
|
AA
|
2,117,300
|
|
Children‘s Medical Center Dallas Project, Series 2009, 5.750%, 8/15/39
|
|||||
885
|
North Central Texas Health Facilities Development Corporation, Texas, Revenue Bonds,
|
8/22 at 100.00
|
AA
|
910,992
|
|
Children‘s Medical Center Dallas Project, Series 2012, 5.000%, 8/15/32
|
|||||
515
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
|
9/23 at 100.00
|
A2
|
510,540
|
|
Bonds, Hendrick Medical Center, Series 2013, 5.125%, 9/01/33 (WI/DD, Settling 12/05/13)
|
|||||
1,250
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue
|
8/20 at 100.00
|
AA–
|
1,272,163
|
|
Bonds, Scott & White Healthcare Project, Series 2010, 5.250%, 8/15/40
|
|||||
2,500
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas
|
11/17 at 100.00
|
AA–
|
2,496,150
|
|
Health Resources, Series 2007B, 5.000%, 11/15/42
|
|||||
2,000
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding
|
1/19 at 100.00
|
AA–
|
2,186,200
|
|
Bonds, Christus Health, Series 2008A, 6.500%, 7/01/37 – AGC Insured
|
|||||
1,720
|
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, East Texas
|
11/17 at 100.00
|
Baa2
|
1,603,900
|
|
Medical Center Regional Healthcare System, Series 2007A, 5.375%, 11/01/37
|
|||||
700
|
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
|
7/17 at 100.00
|
Baa1
|
643,202
|
|
Hospital Regional Healthcare Center, Series 2007B, 5.000%, 7/01/37
|
|||||
2,250
|
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
|
7/17 at 100.00
|
Baa1
|
2,127,623
|
|
Hospital Regional Healthcare Center, Series 2007, 5.000%, 7/01/33
|
|||||
17,170
|
Total Health Care
|
17,182,357
|
|||
Industrials – 1.3% (0.9% of Total Investments)
|
|||||
2,000
|
Gulf Coast Industrial Development Authority, Texas, Solid Waste Disposal Revenue Bonds, Citgo
|
10/22 at 100.00
|
BB+
|
1,894,940
|
|
Petroleum Corporation Project, Series 1995, 4.875%, 5/01/25 (Alternative Minimum Tax)
|
|||||
Long-Term Care – 1.1% (0.7% of Total Investments)
|
|||||
Bexar County, Texas, Health Facilities Development Corporation Revenue Bonds, Army Retirement
|
|||||
Residence, Series 2007:
|
|||||
910
|
5.000%, 7/01/27
|
7/17 at 100.00
|
BBB
|
920,829
|
|
600
|
5.000%, 7/01/37
|
7/17 at 100.00
|
BBB
|
584,964
|
|
1,510
|
Total Long-Term Care
|
1,505,793
|
|||
Tax Obligation/General – 25.2% (17.1% of Total Investments)
|
|||||
650
|
Bexar County, Texas, General Obligation Bonds, Series 2004, 5.000%, 6/15/19
|
6/14 at 100.00
|
Aaa
|
666,393
|
|
400
|
Calallen Independent School District, Nueces County, Texas, General Obligation Bonds, School
|
2/18 at 100.00
|
AAA
|
418,272
|
|
Building Series 2008, 5.000%, 2/15/38
|
|||||
1,620
|
Cameron County, Texas, General Obligation Bonds, State Highway 550 Project, Series 2012,
|
2/22 at 100.00
|
AA–
|
1,689,676
|
|
5.000%, 2/15/32 – AGM Insured
|
|||||
1,500
|
College Station, Texas, Certificates of Obligation, Series 2012, 5.000%, 2/15/32
|
2/21 at 100.00
|
AA
|
1,585,365
|
|
1,000
|
El Paso County Hospital District, Texas, General Obligtion Bonds, Refunding Series 2013,
|
8/23 at 100.00
|
AA
|
1,039,720
|
|
5.000%, 8/15/33
|
|||||
1,750
|
El Paso County, Texas, Certificates of Obligation, Series 2001, 5.000%, 2/15/21 – AGM Insured
|
No Opt. Call
|
AA
|
2,048,970
|
|
8,500
|
Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds,
|
8/18 at 22.64
|
AA
|
1,581,765
|
|
Capital Appreciation Refunding Series 2009, 0.000%, 8/15/39
|
|||||
3,255
|
Hutto Independent School District, Williamson County, Texas, General Obligation Bonds,
|
8/21 at 100.00
|
A
|
477,932
|
|
Refunding Series 2012A, 0.000%, 8/01/45
|
|||||
4,900
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/14 at 17.78
|
AAA
|
838,390
|
|
Bonds, Series 2006, 0.000%, 8/15/45
|
|||||
1,000
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/17 at 33.01
|
AAA
|
295,100
|
|
Bonds, Series 2008, 0.000%, 8/15/36
|
|||||
365
|
Lone Star College System, Harris and Montgomery Counties, Texas, General Obligation Bonds,
|
8/19 at 100.00
|
AAA
|
398,631
|
|
Series 2009, 5.000%, 8/15/34
|
|||||
1,750
|
Martin County Hospital District, Texas, Combination Limited Tax and Revenue Bonds, Series
|
4/21 at 100.00
|
BBB
|
1,832,180
|
|
2011A, 7.250%, 4/01/36
|
|||||
McCamey County Hospital District, Texas, General Obligaiton Bonds, Series 2013:
|
|||||
1,000
|
5.750%, 12/01/33 (WI/DD, Settling 12/12/13)
|
12/25 at 100.00
|
Baa2
|
1,003,870
|
|
1,000
|
6.125%, 12/01/38 (WI/DD, Settling 12/12/13)
|
12/25 at 100.00
|
Baa2
|
1,006,750
|
|
1,010
|
Mercedes Independent School District, Hidalgo County, Texas, General Obligation Bonds, Series
|
8/15 at 100.00
|
AAA
|
1,085,568
|
|
2005, 5.000%, 8/15/23
|
|||||
1,935
|
Midlothian Independent School District, Ellis County, Texas, General Obligation Bonds, Series
|
No Opt. Call
|
Aaa
|
2,001,564
|
|
2005, 5.000%, 2/15/34
|
|||||
1,500
|
Montgomery County, Texas, General Obligation Bonds, Refunding Series 2008B, 5.250%, 3/01/32
|
3/19 at 100.00
|
Aa1
|
1,651,545
|
|
2,000
|
Plano Independent School District, Collin County, Texas, General Obligation Bonds, Series
|
2/18 at 100.00
|
Aaa
|
2,182,800
|
|
2008A, 5.250%, 2/15/34
|
|||||
1,425
|
Port of Houston Authority, Harris County, Texas, General Obligation Bonds, Series 2010E,
|
No Opt. Call
|
AAA
|
549,665
|
|
0.000%, 10/01/35
|
|||||
Roma Independent School District, Texas, General Obligation Bonds, Series 2005:
|
|||||
1,110
|
5.000%, 8/15/22
|
8/15 at 100.00
|
AAA
|
1,193,050
|
|
1,165
|
5.000%, 8/15/23 – AGM Insured
|
8/15 at 100.00
|
AAA
|
1,252,165
|
|
1,250
|
Southside Independent School District, Bexar County, Texas, General Obligation Bonds, Series
|
8/14 at 100.00
|
Aaa
|
1,291,113
|
|
2004A, 5.000%, 8/15/22
|
|||||
5,000
|
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2006A,
|
4/17 at 100.00
|
AAA
|
5,345,300
|
|
5.000%, 4/01/33 (UB)
|
|||||
1,000
|
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2008,
|
4/18 at 100.00
|
AAA
|
1,085,330
|
|
5.000%, 4/01/30 (UB)
|
|||||
325
|
Texas State, General Obligation Bonds, Water Utility, Series 2001, 5.250%, 8/01/23
|
2/14 at 100.00
|
AAA
|
326,352
|
|
3,025
|
Victoria Independent School District, Victoria County, Texas, General Obligation Bonds, School
|
2/17 at 100.00
|
AAA
|
3,236,569
|
|
Building Series 2007, 5.000%, 2/15/32
|
|||||
West Texas Independent School District, McLennan and Hill Counties, General Obligation
|
|||||
Refunding Bonds, Series 1998:
|
|||||
45
|
0.000%, 8/15/22
|
8/14 at 64.64
|
AAA
|
28,095
|
|
45
|
0.000%, 8/15/24
|
8/14 at 57.95
|
AAA
|
25,191
|
|
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds,
|
|||||
Series 2006:
|
|||||
240
|
0.000%, 8/15/43
|
8/15 at 23.11
|
AAA
|
42,406
|
|
240
|
0.000%, 8/15/44
|
8/15 at 21.88
|
AAA
|
39,528
|
|
65
|
0.000%, 8/15/45
|
8/15 at 20.76
|
AAA
|
10,095
|
|
50,070
|
Total Tax Obligation/General
|
36,229,350
|
|||
Tax Obligation/Limited – 18.3% (12.5% of Total Investments)
|
|||||
1,000
|
Bexar County, Texas, Venue Project Revenue Bonds, Refunding Series 2010, 5.250%, 8/15/38 –
|
8/19 at 100.00
|
AA–
|
1,030,220
|
|
AGM Insured
|
|||||
7,940
|
Dallas Area Rapid Transit, Texas, Sales Tax Revenue Bonds, Senior Lien Refunding Series 2007,
|
12/16 at 100.00
|
AA+
|
8,222,819
|
|
5.000%, 12/01/36 – AMBAC Insured
|
|||||
1,390
|
Harris County Metropolitan Transit Authority, Texas, Sales and Use Tax Revenue Bonds, Series
|
11/21 at 100.00
|
AA+
|
1,436,774
|
|
2011A, 5.000%, 11/01/41
|
|||||
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Junior Lien Series 2001H:
|
|||||
300
|
0.000%, 11/15/24 – NPFG Insured
|
No Opt. Call
|
A
|
155,928
|
|
210
|
0.000%, 11/15/32 – NPFG Insured
|
11/31 at 94.05
|
A
|
60,081
|
|
260
|
0.000%, 11/15/33
|
11/31 at 88.44
|
A
|
68,965
|
|
2,045
|
0.000%, 11/15/34 – NPFG Insured
|
11/31 at 83.17
|
A
|
497,364
|
|
1,130
|
0.000%, 11/15/36 – NPFG Insured
|
11/31 at 73.51
|
A
|
234,871
|
|
4,270
|
0.000%, 11/15/38 – NPFG Insured
|
11/31 at 64.91
|
A
|
755,577
|
|
2,260
|
0.000%, 11/15/39 – NPFG Insured
|
11/31 at 60.98
|
A
|
368,470
|
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Senior Lien Series 2001G:
|
|||||
2,250
|
5.250%, 11/15/22 – NPFG Insured
|
2/14 at 100.00
|
A
|
2,250,540
|
|
3,440
|
0.000%, 11/15/41 – NPFG Insured
|
11/31 at 53.78
|
A
|
567,428
|
|
1,000
|
Harris County-Houston Sports Authority, Texas, Revenue Bonds, Third Lien Series 2004A-3,
|
11/24 at 59.10
|
A
|
265,250
|
|
0.000%, 11/15/33 – NPFG Insured
|
|||||
1,500
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
No Opt. Call
|
A2
|
1,529,655
|
|
Facilities Department, Refunding Series 2011B, 5.000%, 9/01/30
|
|||||
2,000
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
2/14 at 100.00
|
A2
|
2,000,720
|
|
Project, Refunding Series 2012, 5.000%, 9/01/33
|
|||||
1,470
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
No Opt. Call
|
A2
|
516,044
|
|
Project, Series 2001B, 0.000%, 9/01/32 – AMBAC Insured
|
|||||
3,000
|
North Texas Tollway Authority, Special Projects System Revenue Bonds, Current Interest Series
|
9/21 at 100.00
|
AA+
|
3,192,000
|
|
2011D, 5.000%, 9/01/31
|
|||||
2,000
|
North Texas Tollway Authority, Special Projects System Revenue Bonds, Series 2011A,
|
9/21 at 100.00
|
AA+
|
2,149,900
|
|
5.500%, 9/01/41
|
|||||
1,000
|
Uptown Development Authority, Houston, Texas, Tax Increment Revenue Bonds, Infrastructure
|
9/19 at 100.00
|
BBB
|
1,039,510
|
|
Improvement Facilities, Series 2009, 5.500%, 9/01/29
|
|||||
38,465
|
Total Tax Obligation/Limited
|
26,342,116
|
|||
Transportation – 14.4% (9.8% of Total Investments)
|
|||||
1,000
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010, Reg S,
|
No Opt. Call
|
Baa2
|
192,980
|
|
0.000%, 1/01/40
|
|||||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2010:
|
|||||
2,945
|
0.000%, 1/01/36
|
No Opt. Call
|
Baa2
|
747,147
|
|
2,205
|
0.000%, 1/01/37
|
No Opt. Call
|
Baa2
|
521,042
|
|
2,160
|
0.000%, 1/01/38
|
No Opt. Call
|
Baa2
|
476,172
|
|
665
|
Central Texas Regional Mobility Authority, Revenue Bonds, Subordinate Lien Refunding Series
|
1/23 at 100.00
|
Baa3
|
568,010
|
|
2013, 5.000%, 1/01/42
|
|||||
1,000
|
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2010A,
|
11/20 at 100.00
|
A+
|
1,001,120
|
|
5.000%, 11/01/42
|
|||||
1,165
|
Dallas-Fort Worth International Airport, Texas, Joint Revenue Bonds, Refunding Series 2012B,
|
11/20 at 100.00
|
A+
|
1,181,962
|
|
5.000%, 11/01/35
|
|||||
1,670
|
Grand Parkway Transportation Corporation, Texas, System Toll Revenue Bonds, First Tier Series
|
10/23 at 100.00
|
BBB+
|
1,623,875
|
|
2013A, 5.125%, 10/01/43
|
|||||
1,165
|
Harris County, Texas, Toll Road Senior Lien Revenue Refunding Bonds, Series 2012C,
|
No Opt. Call
|
AA
|
1,244,604
|
|
5.000%, 8/15/31
|
|||||
2,000
|
Houston, Texas, Subordinate Lien Airport System Revenue Refunding Bonds, Series Series 2012A,
|
7/22 at 100.00
|
A+
|
2,015,200
|
|
5.000%, 7/01/31 (Alternative Minimum Tax)
|
|||||
3,000
|
Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds,
|
11/20 at 100.00
|
BBB–
|
2,970,000
|
|
Southwest Airlines Company, Series 2010, 5.250%, 11/01/40
|
|||||
395
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008A,
|
1/18 at 100.00
|
A2
|
418,088
|
|
5.750%, 1/01/40
|
|||||
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008B:
|
|||||
325
|
5.750%, 1/01/40
|
1/18 at 100.00
|
A2
|
343,996
|
|
225
|
5.750%, 1/01/40 – NPFG Insured
|
1/18 at 100.00
|
A
|
238,151
|
|
2,500
|
North Texas Tollway Authority, First Tier System Revenue Refunding Bonds, Series 2008D,
|
No Opt. Call
|
AA–
|
765,575
|
|
0.000%, 1/01/36 – AGC Insured
|
|||||
950
|
North Texas Tollway Authority, Second Tier System Revenue Refunding Bonds, Series 2008F,
|
1/18 at 100.00
|
A3
|
996,389
|
|
5.750%, 1/01/38
|
|||||
North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A:
|
|||||
100
|
6.100%, 1/01/28
|
1/19 at 100.00
|
A2
|
113,115
|
|
2,000
|
6.250%, 1/01/39
|
1/19 at 100.00
|
A2
|
2,209,140
|
|
2,500
|
San Antonio, Texas, Airport System Revenue Bonds, Refunding Series 2012, 5.000%, 7/01/27
|
7/22 at 100.00
|
A+
|
2,619,900
|
|
(Alternative Minimum Tax)
|
|||||
1,250
|
Texas Turnpike Authority, Central Texas Turnpike System Revenue Bonds, First Tier Series
|
8/14 at 40.96
|
A–
|
492,150
|
|
2002A, 0.000%, 8/15/29 – AMBAC Insured
|
|||||
29,220
|
Total Transportation
|
20,738,616
|
|||
U.S. Guaranteed – 27.2% (18.6% of Total Investments) (4)
|
|||||
610
|
Bexar County, Texas, General Obligation Bonds, Series 2004, 5.000%, 6/15/19
|
6/14 at 100.00
|
Aaa
|
626,153
|
|
(Pre-refunded 6/15/14)
|
|||||
2,000
|
Borger Independent School District, Hutchison County, Texas, General Obligation Bonds, Series
|
2/16 at 100.00
|
AAA
|
2,201,160
|
|
2006, 5.000%, 2/15/36 (Pre-refunded 2/15/16)
|
|||||
Brazoria County Health Facilities Development Corporation, Texas, Revenue Bonds, Brazosport
|
|||||
Memorial Hospital, Series 2004:
|
|||||
1,745
|
5.250%, 7/01/20 (Pre-refunded 7/01/14) – RAAI Insured
|
7/14 at 100.00
|
N/R (4)
|
1,797,525
|
|
1,835
|
5.250%, 7/01/21 (Pre-refunded 7/01/14) – RAAI Insured
|
7/14 at 100.00
|
N/R (4)
|
1,890,234
|
|
3,455
|
Brownsville, Texas, Utility System Priority Revenue Bonds, Series 2005A, 5.000%, 9/01/27
|
9/15 at 100.00
|
A2 (4)
|
3,738,345
|
|
(Pre-refunded 9/01/15) – AMBAC Insured
|
|||||
1,190
|
Canutillo Independent School District, El Paso County, Texas, General Obligation Bonds, Series
|
8/15 at 100.00
|
AAA
|
1,285,652
|
|
2006A, 5.000%, 8/15/22 (Pre-refunded 8/15/15)
|
|||||
3,260
|
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2005, 5.000%,
|
1/15 at 100.00
|
A (4)
|
3,427,727
|
|
1/01/22 (Pre-refunded 1/01/15) – FGIC Insured
|
|||||
295
|
Coppell Independent School District, Dallas County, Texas, Unlimited Tax School Building and
|
No Opt. Call
|
A (4)
|
294,555
|
|
Refunding Bonds, Series 1992, 0.000%, 8/15/14 – NPFG Insured (ETM)
|
|||||
3,615
|
Frisco, Texas, General Obligation Bonds, Series 2006, 5.000%, 2/15/26 (Pre-refunded 2/15/16) –
|
2/16 at 100.00
|
Aa1 (4)
|
3,981,126
|
|
FGIC Insured
|
|||||
5,000
|
Houston, Texas, General Obligation Bonds, Series 2005E, 5.000%, 3/01/23 (Pre-refunded 3/01/15) –
|
3/15 at 100.00
|
AA (4)
|
5,298,949
|
|
AMBAC Insured
|
|||||
1,655
|
Irving, Texas, Waterworks and Sewerage Revenue Bonds, Subordinate Lien Series 2004, 5.000%,
|
8/14 at 100.00
|
Aa1 (4)
|
1,712,064
|
|
8/15/23 (Pre-refunded 8/15/14) – AMBAC Insured
|
|||||
Lower Colorado River Authority, Texas, Revenue Bonds, Series 2008:
|
|||||
40
|
5.750%, 5/15/37 (Pre-refunded 5/15/15)
|
5/15 at 100.00
|
A1 (4)
|
43,166
|
|
1,785
|
5.750%, 5/15/37 (Pre-refunded 5/15/15)
|
5/15 at 100.00
|
A1 (4)
|
1,927,907
|
|
3,580
|
Midlothian Independent School District, Ellis County, Texas, General Obligation Bonds, Series
|
2/15 at 100.00
|
N/R (4)
|
3,786,745
|
|
2005, 5.000%, 2/15/34 (Pre-refunded 2/15/15)
|
|||||
1,000
|
North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds,
|
No Opt. Call
|
Aaa
|
1,222,430
|
|
Presbyterian Healthcare System, Series 1996A, 5.750%, 6/01/26 – NPFG Insured (ETM)
|
|||||
2,500
|
Retama Development Corporation, Texas, Special Facilities Revenue Bonds, Retama Park
|
12/17 at 100.00
|
Aaa
|
3,280,500
|
|
Racetrack, Series 1993, 8.750%, 12/15/18 (Pre-refunded 12/15/17)
|
|||||
1,260
|
Rowlett, Rockwall and Dallas Counties, Texas, Waterworks and Sewerage System Revenue Bonds,
|
3/14 at 100.00
|
AA– (4)
|
1,275,700
|
|
Series 2004A, 5.000%, 3/01/22 (Pre-refunded 3/01/14) – NPFG Insured
|
|||||
775
|
Texas State University System, Financing Revenue Bonds, Series 2004, 5.000%, 3/15/24
|
9/14 at 100.00
|
Aa2 (4)
|
804,791
|
|
(Pre-refunded 9/15/14) – AGM Insured
|
|||||
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds,
|
|||||
Series 2006:
|
|||||
1,260
|
0.000%, 8/15/43 (Pre-refunded 8/15/15)
|
8/15 at 23.11
|
N/R (4)
|
289,208
|
|
1,260
|
0.000%, 8/15/44 (Pre-refunded 8/15/15)
|
8/15 at 21.88
|
N/R (4)
|
273,697
|
|
360
|
0.000%, 8/15/45 (Pre-refunded 8/15/15)
|
8/15 at 20.76
|
N/R (4)
|
74,207
|
|
38,480
|
Total U.S. Guaranteed
|
39,231,841
|
|||
Utilities – 15.5% (10.6% of Total Investments)
|
|||||
3,000
|
Austin, Texas, Electric Utility System Revenue Refunding Bonds, Series 2012A, 5.000%, 11/15/40
|
No Opt. Call
|
AA–
|
3,096,150
|
|
2,560
|
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric
|
4/14 at 100.00
|
C
|
76,774
|
|
Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax)
|
|||||
1,545
|
Brownsville, Texas, Utility System Priority Revenue Bonds, Series 2005A, 5.000%, 9/01/27 –
|
9/15 at 100.00
|
A+
|
1,622,281
|
|
AMBAC Insured
|
|||||
2,000
|
Bryan, Brazos County, Texas, Electric System Revenue Bonds, Series 2009, 5.000%, 7/01/34
|
7/17 at 100.00
|
A+
|
2,053,860
|
|
3,000
|
Lower Colorado River Authority, Texas, Refunding Revenue Bonds, Series 2010A, 5.000%, 5/15/40
|
5/20 at 100.00
|
A1
|
2,995,560
|
|
175
|
Lower Colorado River Authority, Texas, Revenue Bonds, Series 2008, 5.750%, 5/15/37
|
No Opt. Call
|
A1
|
183,117
|
|
2,000
|
Lower Colorado River Authority, Texas, Revenue Refunding Bonds, Series 2012B, 5.000%, 5/15/29
|
5/22 at 100.00
|
A1
|
2,094,060
|
|
1,500
|
Matagorda County Navigation District Number One, Texas, Pollution Control Revenue Refunding
|
7/19 at 102.00
|
BBB
|
1,660,935
|
|
Bonds, Central Power and Light Company Project, Series 2009A, 6.300%, 11/01/29
|
|||||
1,000
|
Sam Rayburn Municipal Power Agency, Texas, Power Supply System Revenue Refunding Bonds, Series
|
No Opt. Call
|
BBB+
|
1,135,180
|
|
2012, 5.000%, 10/01/20
|
|||||
Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Senior
|
|||||
Lien Series 2008D:
|
|||||
985
|
5.625%, 12/15/17
|
No Opt. Call
|
A–
|
1,109,484
|
|
3,000
|
6.250%, 12/15/26
|
No Opt. Call
|
A–
|
3,448,260
|
|
1,000
|
Texas Municipal Gas Acquisition and Supply Corporation I, Gas Supply Revenue Bonds, Series
|
No Opt. Call
|
A–
|
1,114,200
|
|
2006A, 5.250%, 12/15/20
|
|||||
Texas Municipal Power Agency, Revenue Bonds, Transmission Refunding Series 2010:
|
|||||
640
|
5.000%, 9/01/34
|
9/20 at 100.00
|
A+
|
661,434
|
|
1,000
|
5.000%, 9/01/40
|
9/20 at 100.00
|
A+
|
1,023,510
|
|
23,405
|
Total Utilities
|
22,274,805
|
|||
Water and Sewer – 15.8% (10.8% of Total Investments)
|
|||||
2,500
|
Bexar Metropolitan Water District, Texas, Waterworks System Revenue Bonds, Refunding Series
|
5/20 at 100.00
|
A1
|
2,649,750
|
|
2010, 5.875%, 5/01/40
|
|||||
2,500
|
Canadian River Municipal Water Authority, Texas, Contract Revenue Bonds, Conjunctive Use
|
2/21 at 100.00
|
AA
|
2,640,675
|
|
Groundwater Supply Project, Subordinate Lien Series 2011, 5.000%, 2/15/31
|
|||||
Coastal Water Authority, Texas, Contract Revenue Bonds, Houston Water Projects, Series 2004:
|
|||||
1,005
|
5.000%, 12/15/20 – FGIC Insured
|
12/14 at 100.00
|
AA
|
1,027,432
|
|
1,030
|
5.000%, 12/15/21 – FGIC Insured
|
12/14 at 100.00
|
AA
|
1,049,776
|
|
1,000
|
El Paso, Texas, Water and Sewer Revenue Bonds, Refunding Series 2008C, 5.375%, 3/01/29
|
3/18 at 100.00
|
AA+
|
1,122,370
|
|
3,000
|
Houston, Texas, First Lien Combined Utility System Revenue Bonds, First Lien Series 2004A,
|
5/14 at 100.00
|
AA
|
3,066,720
|
|
5.250%, 5/15/23 – FGIC Insured
|
|||||
2,000
|
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Refunding Series 2012D,
|
11/22 at 100.00
|
AA
|
2,085,020
|
|
5.000%, 11/15/42
|
|||||
Irving, Texas, Waterworks and Sewerage Revenue Bonds, Subordinate Lien Series 2004:
|
|||||
100
|
5.000%, 8/15/22 – AMBAC Insured
|
8/14 at 100.00
|
Aa1
|
103,289
|
|
105
|
5.000%, 8/15/23 – AMBAC Insured
|
8/14 at 100.00
|
Aa1
|
108,453
|
|
4,000
|
Laredo, Webb County, Texas, Waterworks and Sewer System Revenue Bonds, Series 2010,
|
3/20 at 100.00
|
AA–
|
4,218,119
|
|
5.250%, 3/01/40
|
|||||
710
|
North Fort Bend Water Authority, Texas, Water System Revenue Bonds, Series 2011, 5.000%,
|
12/21 at 100.00
|
AA–
|
722,212
|
|
12/15/36 – AGM Insured
|
|||||
3,860
|
North Harris County Regional Water Authority, Texas, Water Revenue Bonds, Senior Lien
|
12/22 at 100.00
|
A+
|
4,025,323
|
|
Refunding Series 2013, 5.000%, 12/15/33
|
|||||
21,810
|
Total Water and Sewer
|
22,819,139
|
|||
$ 245,255
|
Total Long-Term Investments (cost $207,907,833)
|
211,276,929
|
|||
Floating Rate Obligations – (2.7)%
|
(3,960,000)
|
||||
MuniFund Term Preferred Shares, at Liquidation Value – (49.2)% (5)
|
(70,920,000)
|
||||
Other Assets Less Liabilities – 5.2%
|
7,646,107
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 144,043,036
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Long-Term Investments:
|
||||
Municipal Bonds
|
$ —
|
$211,276,929
|
$ —
|
$211,276,929
|
Gross unrealized:
|
|
Appreciation
|
$ 9,836,143
|
Depreciation
|
(7,255,882)
|
Net unrealized appreciation (depreciation) of investments
|
$ 2,580,261
|
(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)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 33.6%.
|
|
WI/DD
|
Investment, or portion of investment, purchased on a when-issued or delayed delivery basis.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
|
Reg S
|
Regulation S allows U.S. companies to sell securities to persons or entities located outside of the United States
|
|
without registering those securities with the Securities and Exchange Commission. Specifically, Regulation S
|
||
provides a safe harbor from the registration requirements of the Securities Act for the offers and sales of
|
||
securities by both foreign and domestic issuers that are made outside the United States.
|
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.
|