OMB APPROVAL |
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OMB Number: 3235-0578 |
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Expires: April 30, 2013 |
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Estimated average burden hours per response: 5.6 |
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Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Municipal Obligations161.56% |
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New York152.80% |
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Albany (City of) Industrial Development Agency (St. Peters Hospital); Series 2008 D, Civic Facility RB |
5.75 | % | 11/15/27 | $ | 1,000 | $ | 1,022,450 | |||||||||
Albany Capital Resource Corp. (St. Peters Hospital); Series 2011, RB |
6.25 | % | 11/15/38 | 1,860 | 1,926,309 | |||||||||||
Battery Park City Authority; Series 2009 B, Sr. RB |
5.00 | % | 11/01/34 | 3,200 | 3,450,176 | |||||||||||
Brooklyn Arena Local Development Corp. (Barclays Center); |
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Series 2009, CAB RB (a) |
0.00 | % | 07/15/34 | 6,700 | 1,776,170 | |||||||||||
Series 2009, PILOT RB |
6.25 | % | 07/15/40 | 825 | 859,287 | |||||||||||
Series 2009, PILOT RB |
6.38 | % | 07/15/43 | 825 | 856,020 | |||||||||||
Chautauqua (County of) Industrial Development Agency (NRG Dunkirk Power); Series 2009, Exempt Facility RB |
5.88 | % | 04/01/42 | 2,340 | 2,318,519 | |||||||||||
Dutchess (County of) Industrial Development Agency (Elant Fishkill, Inc.); Series 2007 A, Civic Facility RB |
5.25 | % | 01/01/37 | 920 | 687,047 | |||||||||||
East Rochester (City of) Housing Authority (Woodland Village); Series 2006, Ref. Senior Living RB |
5.50 | % | 08/01/33 | 2,400 | 2,012,952 | |||||||||||
Erie (County of) Industrial Development Agency (City of Buffalo School District); |
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Series 2011 A, School Facility RB |
5.25 | % | 05/01/28 | 2,500 | 2,735,975 | |||||||||||
Series 2011 A, School Facility RB |
5.25 | % | 05/01/30 | 2,305 | 2,509,384 | |||||||||||
Essex (County of) Industrial Development Agency (International Paper); Series 2005 A, Ref. Solid Waste Disposal RB
(b) |
5.20 | % | 12/01/23 | 2,150 | 2,154,063 | |||||||||||
Hempstead (Town of) Industrial Development Agency (Adelphi University); Series 2002, Civic Facility RB
(c)(d) |
5.50 | % | 06/01/12 | 2,000 | 2,052,680 | |||||||||||
Hempstead Local Development Corp. (Molloy College); Series 2009, RB |
5.75 | % | 07/01/39 | 2,655 | 2,771,634 | |||||||||||
Hudson Yards Infrastructure Corp.; Series 2011 A, RB |
5.75 | % | 02/15/47 | 1,695 | 1,796,107 | |||||||||||
Long Island (City of) Power Authority; |
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Series 2006 E, Electric System General RB |
5.00 | % | 12/01/17 | 1,975 | 2,258,373 | |||||||||||
Series 2009 A, Electric System General RB |
6.25 | % | 04/01/33 | 1,860 | 2,125,589 | |||||||||||
Madison (County of) Industrial Development
Agency (Morrisville State College Foundation); Series 2005 A, Civic Facility RB (INS-CIFG) (e) |
5.00 | % | 06/01/28 | 1,000 | 958,780 | |||||||||||
Madison (County of) Industrial Development Agency (Oneida Health Systems, Inc.); Series 2007, Civic Facility RB |
5.50 | % | 02/01/32 | 750 | 696,068 | |||||||||||
Metropolitan Transportation Authority; |
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Series 2005 B, RB (INS-BHAC) (e)(f) |
5.00 | % | 11/15/31 | 10,000 | 10,309,000 | |||||||||||
Series 2009 B, Dedicated Tax Fund RB |
5.25 | % | 11/15/27 | 1,535 | 1,689,360 | |||||||||||
Subseries 2011 B-2, Dedicated Tax Fund RB |
5.00 | % | 11/15/32 | 1,000 | 1,068,320 | |||||||||||
Monroe County Industrial Development Corp. (Nazareth College of Rochester); Series 2011, RB |
5.50 | % | 10/01/41 | 700 | 719,488 | |||||||||||
Monroe County Industrial Development Corp.; Series 2011 A, RB |
5.00 | % | 07/01/36 | 1,605 | 1,671,303 | |||||||||||
Nassau (County of) Industrial Development Agency (Amsterdam at Harborside); Series 2007 A, Continuing Care Retirement
Community RB |
6.70 | % | 01/01/43 | 5,000 | 3,869,200 | |||||||||||
New York City Health & Hospital Corp.; Series 2010 A, Health System RB |
5.00 | % | 02/15/30 | 2,230 | 2,336,081 | |||||||||||
New York (City of) Industrial Development Agency (7 World Trade Center, LLC); Series 2005 B, Liberty RB |
6.75 | % | 03/01/15 | 2,000 | 2,004,960 | |||||||||||
New York (City of) Industrial Development Agency (IAC/Interactive Corp.); Series 2005, Liberty RB |
5.00 | % | 09/01/35 | 3,440 | 3,256,786 | |||||||||||
New York (City of) Industrial Development Agency (New York Stock Exchange); Series 2009 A, Ref. Special Facility RB |
5.00 | % | 05/01/21 | 2,445 | 2,784,097 | |||||||||||
New York (City of) Industrial Development Agency (Polytechnic University); Series 2007, Civic Facility RB (INS-ACA)
(e) |
5.25 | % | 11/01/37 | 3,500 | 3,431,820 | |||||||||||
New York (City of) Industrial Development Agency (Queens Baseball Stadium); Series 2006, PILOT RB (INS-AMBAC)
(e) |
5.00 | % | 01/01/36 | 2,000 | 1,727,460 | |||||||||||
New York (City of) Industrial Development Agency (Staten Island University Hospital); Series 2001 B, Civic Facility RB
(c)(d) |
6.38 | % | 07/01/12 | 1,670 | 1,725,778 | |||||||||||
New York (City of) Industrial Development Agency (Terminal One Group Association, L.P.); |
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Series 2005, Special Facility RB (b)(c)(g) |
5.50 | % | 01/01/16 | 3,710 | 3,951,558 | |||||||||||
Series 2005, Special Facility RB (b)(c)(g) |
5.50 | % | 01/01/16 | 3,000 | 3,169,710 |
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
New York(continued) |
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Series 2005, Special Facility RB (b)(c)(g) |
5.50 | % | 01/01/16 | $ | 4,000 | $ | 4,210,880 | |||||||||
New York (City of) Industrial Development Agency (YMCA of Greater New York); Series 1997, Civic Facility RB |
5.80 | % | 08/01/16 | 920 | 922,456 | |||||||||||
New York (City of) Municipal Water Finance Authority; |
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Series 2005 C, Water & Sewer System RB (f) |
5.00 | % | 06/15/31 | 10,000 | 10,546,900 | |||||||||||
Series 2005 D, Water & Sewer System RB (f) |
5.00 | % | 06/15/37 | 12,000 | 12,432,960 | |||||||||||
Series 2009 FF-2, Water & Sewer System RB |
5.50 | % | 06/15/40 | 1,500 | 1,647,765 | |||||||||||
New York (City of) Transitional Finance Authority; |
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Series 2008 S-2, Building Aid RB |
6.00 | % | 07/15/33 | 1,350 | 1,525,392 | |||||||||||
Series 2009 S-1, Building Aid RB |
5.50 | % | 07/15/38 | 2,950 | 3,184,672 | |||||||||||
Series 2009 S-3, Building Aid RB |
5.25 | % | 01/15/27 | 4,500 | 4,975,875 | |||||||||||
Series 2009 S-3, Building Aid RB |
5.25 | % | 01/15/39 | 2,000 | 2,127,420 | |||||||||||
Subseries 2011 E, Sec. Future Tax RB |
5.00 | % | 11/01/24 | 1,135 | 1,312,276 | |||||||||||
Subseries 2011 D-1, Sec. Future Tax RB |
5.00 | % | 11/01/33 | 12,000 | 12,837,240 | |||||||||||
New York (City of) Trust for Cultural Resources (American Museum of Natural History); Series 2004 A, Ref. RB
(INS-NATL) (e)(f) |
5.00 | % | 07/01/44 | 10,890 | 11,067,616 | |||||||||||
New York (City of) Trust for Cultural Resources (Carnegie Hall); Series 2009 A, RB |
5.00 | % | 12/01/39 | 1,500 | 1,537,260 | |||||||||||
New York (City of) Trust for Cultural Resources (Museum of Modern Art); Series 2008 1A, Ref. RB |
5.00 | % | 04/01/31 | 1,550 | 1,653,772 | |||||||||||
New York (City of); |
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Series 2008 F-1, Unlimited Tax GO Bonds |
5.50 | % | 11/15/28 | 3,300 | 3,722,895 | |||||||||||
Subseries 2008 I-1, Unlimited Tax GO Bonds (f) |
5.00 | % | 02/01/26 | 10,000 | 10,914,700 | |||||||||||
Subseries 2008 L-1, Unlimited Tax GO Bonds (f) |
5.00 | % | 04/01/27 | 10,000 | 10,872,000 | |||||||||||
Subseries 2009 I-1, Unlimited Tax GO Bonds |
5.25 | % | 04/01/32 | 4,000 | 4,407,120 | |||||||||||
New York (State of) Dormitory Authority (Brooklyn Law School); Series 2003 B, RB (INS-SGI) (e) |
5.38 | % | 07/01/23 | 2,340 | 2,417,477 | |||||||||||
New York (State of) Dormitory Authority (Catholic Health Services of Long Island Obligated Group St. Francis
Hospital); Series 2004, RB |
5.00 | % | 07/01/27 | 2,200 | 2,214,476 | |||||||||||
New York (State of) Dormitory Authority (City of New York); Series 2005 A, Court Facilities Lease Non State Supported
Debt RB (INS-AMBAC) (e) |
5.50 | % | 05/15/30 | 1,750 | 2,024,172 | |||||||||||
New York (State of) Dormitory Authority (City University System Consolidated); |
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Series 1993 A, Second General RB |
5.75 | % | 07/01/13 | 1,320 | 1,377,446 | |||||||||||
Series 1995 A, RB |
5.63 | % | 07/01/16 | 3,000 | 3,373,290 | |||||||||||
New York (State of) Dormitory Authority (Convent of The Sacred Heart); Series 2011, Non State Supported Debt RB
(INS-AGM) (e) |
5.75 | % | 11/01/40 | 1,255 | 1,381,906 | |||||||||||
New York (State of) Dormitory Authority (Cornell University); Series 2010 A, Non State Supported Debt RB |
5.00 | % | 07/01/40 | 1,000 | 1,068,660 | |||||||||||
New York (State of) Dormitory Authority (Education); Series 2008 B, State Personal Income Tax RB |
5.75 | % | 03/15/36 | 2,150 | 2,422,706 | |||||||||||
New York (State of) Dormitory Authority (FIT Student Housing Corp.); Series 2007, Non State Supported Debt RB
(INS-NATL) (e) |
5.25 | % | 07/01/28 | 1,655 | 1,724,973 | |||||||||||
New York (State of) Dormitory Authority (Fordham University); |
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Series 2008 B, Non State Supported Debt RB (INS-AGC) (e) |
5.00 | % | 07/01/33 | 915 | 953,229 | |||||||||||
Series 2011 A, Non State Supported Debt RB |
5.13 | % | 07/01/29 | 500 | 538,830 | |||||||||||
New York (State of) Dormitory Authority (Maimonides Medical Center); Series 2004, Mortgage Hospital RB (INS-NATL)
(e) |
5.00 | % | 08/01/33 | 1,950 | 1,984,807 | |||||||||||
New York (State of) Dormitory Authority (Manhattan College); Series 2007 A, Non State Supported Debt RB (INS-Radian)
(e) |
5.00 | % | 07/01/41 | 2,315 | 2,118,364 | |||||||||||
New York (State of) Dormitory Authority (Memorial Sloan Kettering Cancer Center); Series 1998 C, RB (INS-NATL)
(e) |
5.50 | % | 07/01/23 | 3,750 | 4,544,925 | |||||||||||
New York (State of) Dormitory Authority (Mental Health Services Facilities Improvement); |
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Series 2007 A, State Supported Debt RB (INS-AGM) (e) |
5.00 | % | 02/15/27 | 2,000 | 2,114,760 | |||||||||||
Series 2008 C, State Supported Debt RB (INS-AGM) (b)(e) |
5.25 | % | 02/15/28 | 2,000 | 2,056,140 | |||||||||||
New York (State of) Dormitory Authority (Mount Sinai Hospital); Series 2011 A, Non State Supported Debt RB |
5.00 | % | 07/01/31 | 1,695 | 1,704,543 | |||||||||||
New York (State of) Dormitory Authority (Mount Sinai School of Medicine); Series 2009, Non State Supported Debt RB |
5.13 | % | 07/01/39 | 1,750 | 1,780,730 | |||||||||||
New York (State of) Dormitory Authority (New York University); |
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Series 2001 1, RB (INS-AMBAC) (e) |
5.50 | % | 07/01/31 | 2,000 | 2,426,100 |
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
New York(continued) |
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Series 2001-1, RB (INS-BHAC) (e) |
5.50 | % | 07/01/31 | $ | 830 | $ | 1,005,811 | |||||||||
New York (State of) Dormitory Authority (North Shore Long Island Jewish Obligated Group); |
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Series 2006 A, Non State Supported Debt RB |
5.00 | % | 11/01/26 | 2,125 | 2,197,399 | |||||||||||
Series 2009 A, Non State Supported Debt RB |
5.50 | % | 05/01/37 | 1,250 | 1,289,463 | |||||||||||
New York (State of) Dormitory Authority (Orange Regional Medical Center); |
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Series 2008, Non State Supported Debt RB |
6.13 | % | 12/01/29 | 1,000 | 1,002,930 | |||||||||||
Series 2008, Non State Supported Debt RB |
6.50 | % | 12/01/21 | 3,000 | 3,168,840 | |||||||||||
New York (State of) Dormitory Authority (Pratt Institution); Series 2009 C, Non State Supported Debt RB (INS-AGC)
(e) |
5.13 | % | 07/01/39 | 600 | 618,600 | |||||||||||
New York (State of) Dormitory Authority (Providence Rest); |
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Series 2005, Non State Supported Debt RB (INS-ACA) (e) |
5.00 | % | 07/01/35 | 2,000 | 1,416,600 | |||||||||||
Series 2005, Non State Supported Debt RB (INS-ACA) (e) |
5.13 | % | 07/01/30 | 2,525 | 1,937,079 | |||||||||||
New York (State of) Dormitory Authority (Rochester Institute of Technology); Series 2010, Non State Supported Debt RB |
5.00 | % | 07/01/40 | 1,350 | 1,402,947 | |||||||||||
New York (State of) Dormitory Authority (Rockefeller University); Series 2010 A, Non State Supported Debt RB |
5.00 | % | 07/01/41 | 1,500 | 1,605,240 | |||||||||||
New York (State of) Dormitory Authority (School District Financing Program); |
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Series 2008 D, Non State Supported Debt RB (INS-AGC) (e) |
5.75 | % | 10/01/24 | 2,000 | 2,282,080 | |||||||||||
Series 2011 A, Non State Supported Debt RB |
5.00 | % | 10/01/25 | 950 | 1,034,237 | |||||||||||
New York (State of) Dormitory Authority (St. Josephs College); Series 2010, Non State Supported Debt RB |
5.25 | % | 07/01/35 | 1,000 | 1,039,520 | |||||||||||
New York (State of) Dormitory Authority (State University Educational Facilities); |
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Series 1993 A, RB (INS-NATL) (e) |
5.25 | % | 05/15/15 | 3,600 | 3,970,116 | |||||||||||
Series 1993 B, RB |
5.25 | % | 05/15/19 | 5,010 | 5,665,659 | |||||||||||
New York (State of) Dormitory Authority (The New School); |
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Series 2010, Non State Supported Debt RB |
5.50 | % | 07/01/40 | 2,200 | 2,322,276 | |||||||||||
Series 2011, Ref. Non State Supported Debt RB |
5.00 | % | 07/01/31 | 1,400 | 1,449,000 | |||||||||||
New York (State of) Dormitory Authority (Vassar College); Series 2007, Non State Supported Debt RB |
5.00 | % | 07/01/46 | 1,670 | 1,724,509 | |||||||||||
New York (State of) Dormitory Authority; Series 2011 A, General Purpose State Personal Income Tax RB |
5.00 | % | 03/15/30 | 2,400 | 2,632,032 | |||||||||||
New York (State of) Mortgage Agency; Series 2007 145, Homeowner Mortgage RB (b) |
5.05 | % | 10/01/29 | 1,555 | 1,562,464 | |||||||||||
New York (State of) Power Authority; Series 2011 A, RB |
5.00 | % | 11/15/38 | 1,415 | 1,517,644 | |||||||||||
New York (State of) Thruway Authority; Series 2008 B, Second General Highway & Bridge Trust Fund RB |
5.00 | % | 04/01/27 | 1,000 | 1,087,910 | |||||||||||
New York State Environmental Facilities Corp. (2010 Master Financing Program); Series 2010 C, RB |
5.00 | % | 10/15/39 | 1,505 | 1,602,870 | |||||||||||
New York State Environmental Facilities Corp. (New York City Municipal Water Finance Authority); |
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Series 1994 A, State Water PCR (d) |
5.75 | % | 06/15/12 | 300 | 308,982 | |||||||||||
Series 1994 A, State Water PCR (d) |
5.75 | % | 06/15/12 | 500 | 514,970 | |||||||||||
Series 1994 A, State Water PCR |
5.75 | % | 06/15/12 | 95 | 97,878 | |||||||||||
New York State Environmental Facilities Corp. (New York City Municipal Water); Series 2011 B, State Clean Water &
Drinking Water Revolving Funds RB |
5.00 | % | 06/15/31 | 1,270 | 1,393,660 | |||||||||||
New York State Urban Development Corp.; Series 1994 A, Ref. Correctional Facilities RB |
5.50 | % | 01/01/14 | 3,315 | 3,450,285 | |||||||||||
New York State Urban Development Corp. (Rensselaer Polytechnic Institute Center for Industrial Innovation); Series
1995, Ref. RB |
5.50 | % | 01/01/13 | 855 | 872,032 | |||||||||||
New York State Urban Development Corp.; Series 2008 B, Ref. Service Contract RB |
5.25 | % | 01/01/25 | 2,000 | 2,193,740 | |||||||||||
New York Liberty Development Corp. (4 World Trade Center); Series 2011, Ref. Liberty RB |
5.00 | % | 11/15/31 | 1,695 | 1,756,189 | |||||||||||
New York Liberty Development Corp. (Bank of America Tower at One Bryant Park); Series 2010, Ref. Second Priority
Liberty RB |
6.38 | % | 07/15/49 | 2,230 | 2,320,739 | |||||||||||
Niagara Frontier Transportation Authority (Buffalo Niagara International Airport); Series 1999 A, Airport RB
(INS-NATL) (b)(e) |
5.63 | % | 04/01/29 | 3,570 | 3,466,648 | |||||||||||
Oneida (County of) Industrial Development Agency (St. Elizabeth Medical Center Facility); Series 1999 B, Civic
Facility IDR |
6.00 | % | 12/01/19 | 1,180 | 1,180,153 | |||||||||||
Onondaga Civic Development Corp. (Le Moyne College); Series 2010, RB |
5.38 | % | 07/01/40 | 1,950 | 1,979,367 | |||||||||||
Port Authority of New York & New Jersey (JFK International Air Terminal, LLC); |
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Series 1997, Special Obligation RB (INS-NATL) (b)(e) |
5.75 | % | 12/01/22 | 2,000 | 1,985,060 |
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
New York(continued) |
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Series 1997, Special Obligation RB (INS-NATL) (b)(e) |
5.75 | % | 12/01/25 | $ | 2,500 | $ | 2,440,200 | |||||||||
Series 2010, Special Obligation RB |
6.00 | % | 12/01/42 | 1,540 | 1,613,920 | |||||||||||
Port Authority of New York & New Jersey; |
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Series 2006 144th, Consolidated RB (f) |
5.00 | % | 10/01/35 | 17,500 | 18,037,250 | |||||||||||
Series 2008 152nd, Consolidated RB (b)(f) |
5.00 | % | 11/01/25 | 10,000 | 10,610,300 | |||||||||||
Rockland (County of) Solid Waste Management Authority; Series 2003 B, RB (INS-AMBAC) (b)(e) |
5.13 | % | 12/15/28 | 1,000 | 1,005,740 | |||||||||||
Saratoga (County of) Industrial Development Agency (Saratoga Hospital); Series 2007 B, Civic Facility RB |
5.13 | % | 12/01/27 | 1,000 | 1,002,560 | |||||||||||
Seneca (County of) Industrial Development Agency (Seneca Meadows, Inc.); Series 2005, Solid Waste Disposal RB
(b)(c)(g)(h) |
6.63 | % | 10/01/13 | 1,500 | 1,506,585 | |||||||||||
Sodus Central School District; Series 2002, Ref. Unlimited Tax GO Bonds (INS-NATL) (e) |
5.13 | % | 06/15/17 | 1,250 | 1,280,038 | |||||||||||
Suffolk County Economic Development Corp. (Peconic Landing at Southold, Inc.); Series 2010, Ref. RB |
6.00 | % | 12/01/40 | 825 | 832,128 | |||||||||||
Suffolk (County of) Industrial Development Agency (Eastern Long Island Hospital Association); Series 2007, Civic
Facility RB (h) |
5.38 | % | 01/01/27 | 1,995 | 1,679,351 | |||||||||||
Tompkins (County of) Industrial Development Agency (Cornell University); Series 2008 A, Civic Facility RB |
5.00 | % | 07/01/37 | 750 | 791,468 | |||||||||||
Triborough Bridge & Tunnel Authority; Series 2001 A, General Purpose RB (c)(d) |
5.00 | % | 01/01/12 | 15 | 15,062 | |||||||||||
Troy Capital Resource Corp. (Rensselaer Polytechnic); Series 2010 A, RB |
5.00 | % | 09/01/30 | 2,000 | 2,050,440 | |||||||||||
TSASC, Inc.; |
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Series 2006 1, Tobacco Settlement RB |
5.00 | % | 06/01/34 | 2,000 | 1,530,600 | |||||||||||
Series 2006 1, Tobacco Settlement RB |
5.13 | % | 06/01/42 | 3,135 | 2,214,783 | |||||||||||
United Nations Development Corp.; Series 2009 A, Ref. RB |
5.00 | % | 07/01/25 | 1,000 | 1,096,010 | |||||||||||
Westchester (County of) Industrial Development Agency (Kendal on Hudson); Series 2003 A, Continuing Care Retirement
Mortgage RB (c)(d) |
6.50 | % | 01/01/13 | 3,000 | 3,201,690 | |||||||||||
Westchester Tobacco Asset Securitization Corp.; Series 2005, RB |
5.13 | % | 06/01/45 | 5,500 | 3,785,320 | |||||||||||
Yonkers Economic Development Corp. (Charter School of Educational Excellence) Series 2010 A, Educational RB |
6.25 | % | 10/15/40 | 1,200 | 1,162,536 | |||||||||||
337,720,147 | ||||||||||||||||
Puerto Rico4.61% |
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Puerto Rico (Commonwealth of) Electric Power Authority; |
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Series 2008 WW, RB |
5.00 | % | 07/01/28 | 1,000 | 1,015,370 | |||||||||||
Series 2008 WW, RB |
5.25 | % | 07/01/33 | 1,500 | 1,513,635 | |||||||||||
Series 2008 WW, RB |
5.50 | % | 07/01/21 | 1,000 | 1,092,110 | |||||||||||
Series 2010 XX, RB |
5.75 | % | 07/01/36 | 600 | 628,728 | |||||||||||
Puerto Rico (Commonwealth of) Infrastructure Financing Authority; Series 2005 C, Ref. Special Tax RB (INS-AMBAC)
(e) |
5.50 | % | 07/01/27 | 1,225 | 1,281,901 | |||||||||||
Puerto Rico (Commonwealth of) Public Buildings Authority; Series 2004 I, Government Facilities RB (c)(d) |
5.25 | % | 07/01/14 | 75 | 83,413 | |||||||||||
Puerto Rico Sales Tax Financing Corp.; |
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First Subseries 2009 A, RB |
6.38 | % | 08/01/39 | 1,500 | 1,663,665 | |||||||||||
First Subseries 2009 A, RB |
5.75 | % | 08/01/37 | 870 | 922,731 | |||||||||||
First Subseries 2010 A, RB |
5.38 | % | 08/01/39 | 945 | 974,531 | |||||||||||
First Subseries 2010 C, RB |
5.25 | % | 08/01/41 | 1,000 | 1,021,220 | |||||||||||
10,197,304 | ||||||||||||||||
Guam2.76% |
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Guam (Territory of) (Section 30); |
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Series 2009 A, Limited Obligation RB |
5.63 | % | 12/01/29 | 750 | 764,017 | |||||||||||
Series 2009 A, Limited Obligation RB |
5.75 | % | 12/01/34 | 500 | 507,840 | |||||||||||
Guam (Territory of) Government Waterworks Authority; Series 2010, Water & Wastewater System RB |
5.63 | % | 07/01/40 | 3,000 | 2,862,660 | |||||||||||
Guam (Territory of) Power Authority; Series 2010 A, RB |
5.50 | % | 10/01/40 | 820 | 797,753 | |||||||||||
Guam (Territory of); Series 2011 A, Business Privilege Tax RB |
5.25 | % | 01/01/36 | 1,125 | 1,169,156 | |||||||||||
6,101,426 | ||||||||||||||||
Principal | ||||||||||||||||
Interest | Maturity | Amount | ||||||||||||||
Rate | Date | (000) | Value | |||||||||||||
Virgin Islands1.39% |
||||||||||||||||
Virgin Islands (Government of) Public Finance Authority (Gross Receipts Taxes Loan Note); Series 1999 A, RB |
6.38 | % | 10/01/19 | $ | 1,370 | $ | 1,372,891 | |||||||||
Virgin Islands (Government of) Public Finance Authority (Matching Fund Loan Note Diago); Series 2009 A, RB |
6.63 | % | 10/01/29 | 1,600 | 1,706,064 | |||||||||||
3,078,955 | ||||||||||||||||
TOTAL INVESTMENTS(i)161.56% (Cost $349,103,375) |
357,097,832 | |||||||||||||||
Floating Rate Note Obligations(24.06)% |
||||||||||||||||
Notes with interest rates ranging from 0.14% to 0.24% at 11/30/11 and contractual maturities of collateral ranging from 11/01/25 to
07/01/44 (See Note 1E)(j) |
(53,175,000 | ) | ||||||||||||||
OTHER ASSETS LESS LIABILITIES1.86% |
4,102,823 | |||||||||||||||
PREFERRED SHARES(39.36)% |
(87,000,000 | ) | ||||||||||||||
NET ASSETS APPLICABLE TO COMMON SHARES100.00% |
$ | 221,025,655 | ||||||||||||||
ACA | ACA Financial Guaranty Corp. | |
AGC | Assured Guaranty Corp. | |
AGM | Assured Guaranty Municipal Corp. | |
AMBAC | American Municipal Bond Assurance Corp. | |
BHAC | Berkshire Hathaway Assurance Corp. | |
CAB | Capital Appreciation Bonds | |
CIFG | CIFG Assurance North America, Inc. | |
GO | General Obligation | |
IDR | Industrial Development Revenue Bonds | |
INS | Insurer | |
NATL | National Public Finance Guarantee Corp. | |
PCR | Pollution Control Revenue Bonds | |
PILOT | Payment-in-Lieu-of-Tax | |
Radian | Radian Asset Assurance, Inc. | |
RB | Revenue Bonds | |
Ref. | Refunding | |
Sec. | Secured | |
SGI | Syncora Guarantee, Inc. | |
Sr. | Senior |
Notes to Schedule of Investments: | ||
(a) | Zero coupon bond issued at a discount. | |
(b) | Security subject to the alternative minimum tax. | |
(c) | Security has an irrevocable call by the issuer or mandatory put by the holder. Maturity date reflects such call or put. | |
(d) | Advance refunded; secured by an escrow fund of U.S. Government obligations or other highly rated collateral. | |
(e) | Principal and/or interest payments are secured by the bond insurance company listed. | |
(f) | Underlying security related to Dealer Trusts entered into by the Trust. See Note 1E. | |
(g) | Interest or dividend rate is redetermined periodically. Rate shown is the rate in effect on November 30, 2011. | |
(h) | Security purchased or received in a transaction exempt from registration under the Securities Act of 1933, as amended. The security may be resold pursuant to an exemption from registration under the 1933 Act, typically to qualified institutional buyers. The aggregate value of these securities at November 30, 2011 was $3,185,936, which represented 1.44% of the Trusts Net Assets. | |
(i) | This table provides a listing of those entities that have either issued, guaranteed, backed or otherwise enhanced the credit quality of more than 5% of the securities held in the portfolio. In instances where the entity has guaranteed, backed or otherwise enhanced the credit quality of a security, it is not primarily responsible for the issuers obligations but may be called upon to satisfy the issuers obligations. |
Entities | Percentage | |||
National Public Finance Guarantee Corp. |
9.1 | % | ||
(j) | Floating rate note obligations related to securities held. The interest rates shown reflect the rates in effect at November 30, 2011. At November 30, 2011, the Trusts investments with a value of $94,790,726 are held by Dealer Trusts and serve as collateral for the $53,175,000 in the floating rate note obligations outstanding at that date. |
A. | Security Valuations Securities, including restricted securities, are valued according to the following policy. |
B. | Securities Transactions and Investment Income Securities transactions are accounted for on a trade date basis. Realized gains or losses on sales are computed on the basis of specific identification of the securities sold. Interest income is recorded on the accrual basis from settlement date. Dividend income (net of withholding tax, if any) is recorded on the ex-dividend date. Bond premiums and discounts are amortized and/or accreted for financial reporting purposes. |
C. | Country Determination For the purposes of making investment selection decisions and presentation in the Schedule of Investments, the investment adviser may determine the country in which an issuer is located and/or credit risk exposure based on various factors. These factors include the laws of the country under which the issuer is organized, where the issuer maintains a principal office, the country in which the issuer derives 50% or more of its total revenues and the country that has the primary market for the issuers securities, as well as other criteria. Among the other criteria that may be evaluated for making this determination are the country in which the issuer maintains 50% or more of its assets, the type of security, financial guarantees and enhancements, the nature of the collateral and the sponsor organization. Country of issuer and/or credit risk exposure has been determined to be the United States of America, unless otherwise noted. |
D. | Securities Purchased on a When-Issued and Delayed Delivery Basis The Trust may purchase and sell interests in portfolio securities on a when-issued and delayed delivery basis, with payment and delivery scheduled for a future date. No income accrues to the Trust on such interests or securities in connection with such transactions prior to the date the Trust actually takes delivery of such interests or securities. These transactions are subject to market fluctuations and are subject to the risk that the value at delivery may be more or less than the trade date purchase price. Although the Trust will generally purchase these securities with the intention of acquiring such securities, they may sell such securities prior to the settlement date. |
E. | Floating Rate Note Obligations The Trust invests in inverse floating rate securities, such as Residual Interest Bonds (RIBs) or Tender Option Bonds (TOBs) for investment purposes and to enhance the yield of the Trust. Inverse floating rate investments tend to underperform the market for fixed rate bonds in a rising interest rate environment, but tend to outperform the market for fixed rate bonds when interest rates decline or remain relatively stable. Such transactions may be purchased in the secondary market without first owning the underlying bond or by the sale of fixed rate bonds by the Trust to special purpose trusts established by a broker dealer (Dealer Trusts) in exchange for cash and residual interests in the Dealer Trusts assets and cash flows, which are in the form of inverse floating rate securities. The Dealer Trusts finance the purchases of the fixed rate bonds by issuing floating rate notes to third parties and allowing the Trust to retain residual interest in the bonds. The floating rate notes issued by the Dealer Trusts have interest rates that reset weekly and the floating rate note holders have the option to tender their notes to the Dealer Trusts for redemption at par at each reset date. The residual interests held by the Trust (inverse floating rate investments) include the right of the Trust (1) to cause the holders of the floating rate notes to tender their notes at par at the next interest rate reset date, and (2) to transfer the municipal bond from the Dealer Trusts to the Trust, thereby collapsing the Dealer Trusts. |
F. | Other Risks The value of, payment of interest on, repayment of principal for and the ability to sell a municipal security may be affected by constitutional amendments, legislative enactments, executive orders, administrative regulations, voter initiatives and the economics of the regions in which the issuers are located. |
Level 1 | Prices are determined using quoted prices in an active market for identical assets. |
Level 2 | Prices are determined using other significant observable inputs. Observable inputs are inputs that other market participants may use in pricing a security. These may include quoted prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, loss severities, default rates, discount rates, volatilities and others. |
Level 3 | Prices are determined using significant unobservable inputs. In situations where quoted prices or observable inputs are unavailable (for example, when there is little or no market activity for an investment at the end of the period), unobservable inputs may be used. Unobservable inputs reflect the Trusts own assumptions about the factors market participants would use in determining fair value of the securities or instruments and would be based on the best available information. |
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Municipal Obligations |
$ | | $ | 357,097,832 | $ | | $ | 357,097,832 | ||||||||
Aggregate unrealized appreciation of investment securities |
$ | 15,255,666 | ||
Aggregate unrealized (depreciation) of investment securities |
(5,664,752 | ) | ||
Net unrealized appreciation of investment securities |
$ | 9,590,914 | ||
Cost of investments for tax purposes is $347,506,918. |
(a) | As of December 15, 2011, an evaluation was performed under the supervision and with the participation of the officers of the Registrant, including the Principal Executive Officer (PEO) and Principal Financial Officer (PFO), to assess the effectiveness of the Registrants disclosure controls and procedures, as that term is defined in Rule 30a-3(c) under the Investment Company Act of 1940 (Act), as amended. Based on that evaluation, the Registrants officers, including the PEO and PFO, concluded that, as of December 15, 2011, the Registrants disclosure controls and procedures were reasonably designed so as to ensure: (1) that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the time periods specified by the rules and forms of the Securities and Exchange Commission; and (2) that material information relating to the Registrant is made known to the PEO and PFO as appropriate to allow timely decisions regarding required disclosure. | ||
(b) | There have been no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrants internal control over financial reporting. |
Certifications of PEO and PFO as required by Rule 30a-2(a) under the Investment Company Act of 1940. |
By:
|
/s/ Colin Meadows
|
|||
Colin Meadows | ||||
Principal Executive Officer | ||||
Date:
|
January 27, 2012 |
By:
|
/s/ Colin Meadows
|
|||
Colin Meadows | ||||
Principal Executive Officer | ||||
Date:
|
January 27, 2012 |
By:
|
/s/ Sheri Morris
|
|||
Sheri Morris | ||||
Principal Financial Officer | ||||
Date:
|
January 27, 2012 |