As filed with the Securities and Exchange Commission on January 5, 2012
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-21168
NEUBERGER BERMAN INTERMEDIATE MUNICIPAL FUND INC.
(Exact Name of the Registrant as Specified in Charter)
c/o Neuberger Berman Management LLC
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
(Address of Principal Executive Offices – Zip Code)
Registrant's telephone number, including area code: (212) 476-8800
Robert Conti
Chief Executive Officer and President
Neuberger Berman Intermediate Municipal Fund Inc.
c/o Neuberger Berman Management LLC
605 Third Avenue, 2nd Floor
New York, New York 10158-0180
Arthur C. Delibert, Esq.
K&L Gates LLP
1601 K Street, N.W.
Washington, D.C. 20006-1600
(Names and Addresses of agents for service)
Date of fiscal year end: October 31, 2011
Date of reporting period: October 31, 2011
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
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Neuberger Berman
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Intermediate Municipal
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Closed-End Funds
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Neuberger Berman California Intermediate
Municipal Fund Inc.
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Neuberger Berman Intermediate Municipal
Fund Inc.
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Neuberger Berman New York Intermediate
Municipal Fund Inc.
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Annual Report
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October 31, 2011
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Contents
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PRESIDENT'S LETTER
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1
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PORTFOLIO COMMENTARIES
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California Intermediate Municipal Fund Inc.
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2
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Intermediate Municipal Fund Inc.
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2
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New York Intermediate Municipal Fund Inc.
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2
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SCHEDULES OF INVESTMENTS
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California Intermediate Municipal Fund Inc.
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6
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Intermediate Municipal Fund Inc.
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10
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New York Intermediate Municipal Fund Inc.
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18
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FINANCIAL STATEMENTS
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24
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FINANCIAL HIGHLIGHTS/PER SHARE DATA
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California Intermediate Municipal Fund Inc.
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36
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Intermediate Municipal Fund Inc.
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37
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New York Intermediate Municipal Fund Inc.
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38
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Report of Independent Registered Public Accounting Firm
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40
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Distribution Reinvestment Plan
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41
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Directory
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43
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Directors and Officers
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44
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Proxy Voting Policies and Procedures
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54
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Quarterly Portfolio Schedule
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54
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Notice to Shareholders
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54
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Market Conditions
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54
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Report of Votes of Shareholders
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56
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Board Consideration of the Management and
Sub-Advisory Agreements
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58
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The "Neuberger Berman" name and logo are registered service marks of Neuberger Berman Group LLC. "Neuberger Berman Management LLC" and the individual Fund names in this piece are either service marks or registered service marks of Neuberger Berman Management LLC. ©2011 Neuberger Berman Management LLC. All rights reserved.
President's Letter (Unaudited)
Dear Shareholder,
I am pleased to present this annual report for the Neuberger Berman Intermediate Municipal Closed-End Funds for the 12 months ended October 31, 2011. The report includes portfolio commentaries, listings of the Funds' investments, and their audited financial statements for the reporting period.
Each Fund's investment objective is to provide a high level of current income exempt from regular federal income tax and, for each state-specific Fund, a high level of current income exempt from that state's personal income taxes (and, in the case of the New York Fund, New York City personal income tax).
We generally invest in intermediate-term municipal bonds because our experience and research indicate strongly that this maturity range has historically offered the best risk/reward profile on the yield curve, providing much of the return of longer-term bonds with less volatility and risk. We believe that our conservative investment philosophy and disciplined investment process will benefit you with superior tax-exempt current income over the long term.
In addition, I would like to provide an update on the Funds' tender offer activities. In February 2009, each Fund's Board of Directors authorized a tender offer program consisting of up to four tender offers over a two-year period. Under each program, if a Fund's common shares trade at an average daily discount to net asset value per share ("NAV") of greater than 10% during a 12-week measurement period, the Fund would conduct a tender offer for between 5% and 20% of its outstanding common shares at a price equal to 98% of its NAV determined on the day the tender offer expires. As part of the program, and to offset expenses associated with the tender offers, Neuberger Berman Management LLC agreed to voluntarily extend the management fee waivers then in place for each Fund for one year.
During the reporting period, the Funds conducted their third and fourth 12-week measurement periods. In both cases, each of the Funds traded at an average daily discount to NAV of less than 10% and, accordingly, was not required to conduct tender offers.
Thank you for your confidence in the Funds. We will continue to do our best to earn your trust in the years to come.
Sincerely,
Robert Conti
President and CEO
Neuberger Berman California Intermediate Municipal Fund Inc.
Neuberger Berman Intermediate Municipal Fund Inc.
Neuberger Berman New York Intermediate Municipal Fund Inc.
1
Neuberger Berman Intermediate Municipal Closed-End Funds Portfolio Commentaries (Unaudited)
For the 12 months ended October 31, 2011, on a net asset value ("NAV") basis, all three of the Neuberger Berman Intermediate Municipal Closed-End Funds posted positive returns. Neuberger Berman Intermediate Municipal Fund outperformed the Barclays Capital 10-Year Municipal Bond Index, whereas Neuberger Berman New York Intermediate Municipal Fund and Neuberger Berman California Intermediate Municipal Fund lagged the Barclays Capital 10-Year Municipal Bond Index during the reporting period.
After posting very weak results during the first three months of the Funds' fiscal year, the municipal market then rebounded and generated positive returns during seven of the last nine months of the reporting period. A number of issues initially caused the municipal market to perform poorly. These included rising interest rates given expectations for improving economic growth, a large increase in issuance of Build America Bonds at the end of 2010 and weak demand due to fears of substantially higher municipal defaults. The municipal market then strengthened as an increase in defaults never materialized, tax revenues increased and a number of states took actions to reduce spending and shore up their budgets. In addition, new issuance fell sharply and demand increased as investors were drawn to the relatively attractive yields offered by many municipal securities. The market also was a beneficiary of the flight to quality that occurred toward the end of the period.
The Funds' yield curve positioning detracted from results during the reporting period. Throughout the period, we utilized a barbell approach (investing in shorter and longer maturities). In contrast, the benchmark is concentrated in the eight- to 12-year portion of the curve, which was among the best-performing portions of the municipal yield curve.
The Funds maintained a lower quality than that of the benchmark in an attempt to generate incremental yield. This was not rewarded in the 12- to 14-year portion of the municipal yield curve as higher quality bonds outperformed lower quality securities. This strategy was successful in the two- to three-year portion of the yield curve where lower quality bonds outperformed.
From a sector perspective, the Funds' underweight to tobacco bonds (municipal bonds secured by tobacco settlement payments) contributed positively to relative performance as they lagged the benchmark.
Several minor adjustments were made to portfolio allocation during the reporting period. For example, we added to the Funds' allocation in the airport and education sectors, both of which offered what we believe are attractive yields.
While certain economic and credit challenges remain, overall, we have a positive outlook for the municipal market. The municipal yield curve remains steep from a historical perspective and, in our view, supply should remain fairly muted in 2012. In addition, municipal bonds are attractively valued versus their U.S. Treasury counterparts. While a number of macro uncertainties could negatively impact investor sentiment at times, we expect demand to remain generally solid given what we feel will be a slow growth/low interest rate environment. While we do not anticipate a double-dip scenario, further economic softening or higher-than-expected inflation could impact the municipal market. Should the economy stumble, tax revenues would decline and put additional strains on municipalities that are still repairing their budgets following the lengthy recession. In terms of inflation, we expect it to be relatively benign. That being said, given the Federal Reserve's accommodative policies and the potential for a third round of quantitative easing, higher inflation and, by extension, higher interest rates, cannot be ruled out.
Sincerely,
 |
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James L. Iselin and S. Blake Miller
Portfolio Co-Managers
2
| TICKER SYMBOLS | |
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California Intermediate Municipal Fund
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NBW
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Intermediate Municipal Fund
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NBH
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New York Intermediate Municipal Fund
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NBO
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| PERFORMANCE HIGHLIGHTS1,2 | |||||||
| Inception |
Average Annual Total Return
Ended 10/31/201 |
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NAV3,5
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Date
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1 Year
|
5 Years
|
Life of Fund
|
|||
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California Intermediate
Municipal Fund |
09/24/2002
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4.77
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%
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5.63
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%
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6.07
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%
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Intermediate Municipal Fund
|
09/24/2002
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5.51
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%
|
5.49
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%
|
6.04
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%
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New York Intermediate
Municipal Fund |
09/24/2002
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3.25
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%
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5.18
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%
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5.67
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%
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Market Price4,5
|
|||||||
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California Intermediate
Municipal Fund |
09/24/2002
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6.75
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%
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5.55
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%
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5.22
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%
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Intermediate Municipal Fund
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09/24/2002
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5.71
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%
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6.34
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%
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5.42
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%
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New York Intermediate
Municipal Fund |
09/24/2002
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-2.61
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%
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4.22
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%
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4.54
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%
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Closed-end funds, unlike open-end funds, are not continually offered. There is an initial public offering and, once issued, common shares of closed-end funds are sold in the open market through a stock exchange.
The composition, industries and holdings of the Funds are subject to change. Investment return will fluctuate. Performance data quoted represent past performance and do not indicate future results.
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CALIFORNIA INTERMEDIATE
MUNICIPAL FUND PORTFOLIO |
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(as a % of Total Investments)
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Arizona
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0.5
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%
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California
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83.9
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Guam
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2.1
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Illinois
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0.9
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Massachusetts
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0.7
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Nevada
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0.8
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New York
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1.1
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Pennsylvania
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1.9
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Puerto Rico
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6.8
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Texas
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1.3
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Total
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100.0
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%
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NEW YORK INTERMEDIATE
MUNICIPAL FUND PORTFOLIO
BY STATE AND TERRITORY
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(as a % of Total Investments)
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Arizona
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0.4
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%
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California
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2.6
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Guam
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2.3
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Illinois
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0.7
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Massachusetts
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0.8
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Nevada
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1.0
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New York
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84.8
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|
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Pennsylvania
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1.4
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Puerto Rico
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4.7
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Texas
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1.3
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Total
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100.0
|
%
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INTERMEDIATE MUNICIPAL FUND PORTFOLIO BY STATE
AND TERRITORY
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(as a % of Total Investments)
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Alabama
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1.3
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%
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Arizona
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5.1
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|
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California
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12.4
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Colorado
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3.2
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District of Columbia
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0.7
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Florida
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1.0
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Georgia
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1.7
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Guam
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1.6
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Hawaii
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2.2
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Illinois
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8.9
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Indiana
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5.2
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Iowa
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2.5
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Kentucky
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0.5
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Louisiana
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0.3
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Maryland
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0.2
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Massachusetts
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5.0
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Michigan
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2.2
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|
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Minnesota
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2.1
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|
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Mississippi
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1.0
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|
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Missouri
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3.7
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|
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Nevada
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2.3
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|
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New Hampshire
|
1.8
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|
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New Jersey
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1.7
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|
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New York
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5.1
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|
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North Carolina
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1.5
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|
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North Dakota
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0.9
|
|
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Ohio
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1.5
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Oregon
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0.0
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Other
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0.5
|
|
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Pennsylvania
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2.8
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|
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Puerto Rico
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0.2
|
|
|
South Carolina
|
0.7
|
|
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Tennessee
|
1.4
|
|
|
Texas
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7.3
|
|
|
Utah
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1.4
|
|
|
Virginia
|
0.6
|
|
|
Washington
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4.2
|
|
|
West Virginia
|
0.3
|
|
|
Wisconsin
|
3.9
|
|
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Wyoming
|
1.1
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|
|
Total
|
100.0
|
%
|
3
Endnotes (Unaudited)
|
1
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Neuberger Berman Management LLC ("Management") has contractually agreed to waive a portion of the management fees that it is entitled to receive from each Fund. Each contractual undertaking lasted until October 31, 2011. Management has voluntarily extended these waivers for one year until October 31, 2012. Please see the notes to the financial statements for specific information regarding the rate of the management fees waived by Management. Absent such a waiver, the performance of each Fund would be lower.
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|
2
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Performance data current to the most recent month-end are available at www.nb.com.
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3
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Returns based on the net asset value ("NAV") of each Fund.
|
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4
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Returns based on the market price of Fund shares on the NYSE Amex.
|
|
5
|
A portion of the income from each Fund may be a tax preference item for purposes of the Federal Alternative Minimum Tax for certain investors.
|
4
Glossary of Indices (Unaudited)
|
Barclays Capital 10-Year Municipal
Bond Index: |
An unmanaged index that is the 10-year (8-12) component of the Barclays Capital Municipal Bond Index, which is a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. To be included in the index, bonds must be rated investment-grade, have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and be at least one year from their maturity date. Remarketed issues, taxable municipal bonds, bonds with floating rates, and derivatives, are excluded from the benchmark.
|
Please note that the index does not take into account any fees and expenses or any tax consequences of investing in the individual securities that it tracks and that individuals cannot invest directly in any index. Data about the performance of this index are prepared or obtained by Management and include reinvestment of all income dividends and distributions. The Funds may invest in securities not included in the index.
5
Schedule of Investments California Intermediate Municipal Fund Inc.
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
Arizona (0.9%)
|
|||||
|
$ 750
|
Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2003, 6.15%, due 7/15/17
|
$
|
726
|
||
|
California (139.2%)
|
|||||
|
600
|
Abag Fin. Au. Rev. (San Diego Hosp. Assoc.), Ser. 2003-C, 5.13%, due 3/1/18
|
622
|
ß
|
||
|
1,250
|
Alameda Co. Cert. of Participation Ref. Rev., Ser. 2001-A,
|
1,265
|
|||
|
(National Public Finance Guarantee Corp. Insured), 5.38%, due 12/1/17
|
|||||
|
1,285
|
Bay Area Gov't Assoc. BART SFO Extension Rev. (Arpt. Premium Fare), Ser. 2002-A,
|
1,231
|
|||
|
(AMBAC Insured), 5.00%, due 8/1/21
|
|||||
|
1,750
|
California Ed. Fac. Au. Ref. Rev. (Stanford Univ.), Ser. 2001-R, 5.00%, due 11/1/21
|
1,750
|
ß
|
||
|
500
|
California Ed. Fac. Au. Rev. (Scripps College), Ser. 2007,
|
560
|
ß
|
||
|
(National Public Finance Guarantee Corp. Insured), 5.00%, due 11/1/15
|
|||||
|
2,000
|
California HFA Home Mtge. Rev., Ser. 2006-E, (FGIC Insured), 4.88%, due 2/1/17
|
2,013
|
|||
|
1,185
|
California HFA Home Mtge. Rev., Ser. 2007-E, 5.00%, due 2/1/42
|
1,169
|
|||
|
2,000
|
California Hlth. Fac. Fin. Au. Rev. (Catholic Healthcare West), Ser. 2004-I,
|
2,163
|
µß
|
||
|
4.95%, due 7/1/26 Putable 7/1/14
|
|||||
|
2,000
|
California Hlth. Fac. Fin. Au. Rev. (Catholic Healthcare West), Ser. 2009-C,
|
2,057
|
µß
|
||
|
5.00%, due 7/1/37 Putable 7/2/12
|
|||||
|
2,000
|
California Hlth. Fac. Fin. Au. Rev. (Cedars-Sinai Med. Ctr.), Ser. 2005, 5.00%, due 11/15/21
|
2,091
|
ß
|
||
|
790
|
California Infrastructure & Econ. Dev. Bank Rev. (J. Paul Getty), Ser. 2004-B, 0.10%, due 10/1/23
|
790
|
µß
|
||
|
1,000
|
California Infrastructure & Econ. Dev. Bank Rev. (J. Paul Getty), Ser. 2007-A2, 0.09%, due 10/1/47
|
1,000
|
µß
|
||
|
1,000
|
California Infrastructure & Econ. Dev. Bank St. Sch. Fund Apportionment Lease Revenue Bonds
|
1,002
|
|||
|
(King City Joint Union High Sch. Dist. Fin.), Ser. 2010, 5.13%, due 8/15/24
|
|||||
|
500
|
California Muni. Fin. Au. Ed. Rev. (American Heritage Ed. Foundation Proj.), Ser. 2006-A,
|
514
|
|||
|
5.00%, due 6/1/16
|
|||||
|
1,040
|
California Muni. Fin. Au. Rev. (Loma Linda Univ.), Ser. 2007, 5.00%, due 4/1/21
|
1,104
|
ß
|
||
|
600
|
California Muni. Fin. Au. Rev. (Southwestern Law Sch.), Ser. 2011, 6.00%, due 11/1/26
|
601
|
|||
|
2,500
|
California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser. 2002-A,
|
2,593
|
|||
|
5.75%, due 5/1/17 Pre-Refunded 5/1/12
|
|||||
|
2,250
|
California St. G.O., Ser. 2002, 5.00%, due 10/1/17
|
2,322
|
|||
|
1,095
|
California St. Pub. Works Board Lease Rev. (California Comm. Colleges), Ser. 2004-B,
|
1,151
|
|||
|
5.50%, due 6/1/20
|
|||||
|
1,000
|
California St. Pub. Works Board Lease Rev. (Dept. of Gen. Svc.) (Cap. East End), Ser. 2002-A,
|
1,042
|
|||
|
(AMBAC Insured), 5.25%, due 12/1/16
|
|||||
|
2,000
|
California Statewide CDA Cert. of Participation Rev. (Children's Hosp. Los Angeles), Ser. 1999,
|
2,000
|
ß
|
||
|
5.13%, due 8/15/19
|
|||||
|
1,180
|
California Statewide CDA Cert. of Participation Rev. (The Internext Group), Ser. 1999,
|
1,181
|
ß
|
||
|
5.38%, due 4/1/17
|
|||||
|
1,000
|
California Statewide CDA Hlth. Fac. Rev. (Adventist Hlth.), Ser. 2005-A, 5.00%, due 3/1/20
|
1,036
|
ß
|
||
|
5,000
|
California Statewide CDA Hlth. Fac. Rev. (Mem. Hlth. Svcs.), Ser. 2003-A, 6.00%, due 10/1/16
|
5,303
|
ß
|
||
|
1,325
|
California Statewide CDA Rev. (California Baptist Univ.), Ser. 2007-A, 5.30%, due 11/1/18
|
1,405
|
ß
|
||
|
1,000
|
California Statewide CDA Rev. (Daughters of Charity Hlth.), Ser. 2005-G, 5.00%, due 7/1/22
|
953
|
ß
|
||
|
1,255
|
California Statewide CDA Rev. (Sr. Living So. California Presbyterian Homes), Ser. 2009,
|
1,359
|
ß
|
||
|
6.25%, due 11/15/19
|
|||||
|
1,500
|
California Statewide CDA Rev. (St. Joseph Hlth. Sys.), Ser. 2000,
|
1,581
|
ß
|
||
|
(National Public Finance Guarantee Corp. Insured), 5.13%, due 7/1/24
|
|||||
|
355
|
California Statewide CDA Rev. (Valley Care Hlth. Sys.), Ser. 2007-A, 4.80%, due 7/15/17
|
352
|
ß
|
||
|
1,500
|
Compton Unified Sch. Dist. Ref. G.O. (Election 2002), Ser. 2006-D,
|
1,395
|
|||
|
(AMBAC Insured), 0.00%, due 6/1/14
|
|||||
|
1,365
|
Daly City Hsg. Dev. Fin. Agcy. Rev. Ref. (Franciscan Mobile Home Park), Ser. 2007-A,
|
1,327
|
ß
|
||
|
5.00%, due 12/15/21
|
|||||
|
820
|
Folsom Pub. Fin. Au. Spec. Tax Rev., Ser. 2007-B, 4.40%, due 9/1/12
|
829
|
|||
|
250
|
Folsom Pub. Fin. Au. Spec. Tax Rev., Ser. 2007-B, 4.40%, due 9/1/13
|
255
|
|||
|
2,000
|
Fresno Joint Pwr. Fin. Au. Lease Rev. (Master Lease Proj.), Ser. 2008-A, (Assured Guaranty Insured),
|
2,105
|
|||
|
5.00%, due 4/1/23
|
|||||
|
1,000
|
Fresno Unified Sch. Dist. Ref. G.O., Ser. 2002-A, (National Public Finance Guarantee Corp. Insured),
|
1,147
|
|||
|
6.00%, due 2/1/17
|
|||||
See Notes to Schedule of Investments
6
Schedule of Investments California Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$2,835
|
Glendale Redev. Agcy. Tax Allocation Rev. (Central Glendale Redev. Proj.), Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.00%, due 12/1/16
|
$
|
2,892
|
|
|
2,480
|
Glendale Redev. Agcy. Tax Allocation Rev. (Central Glendale Redev. Proj.), Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 12/1/17
|
2,530
|
||
|
2,000
|
Glendale Redev. Agcy. Tax Allocation Rev. (Central Glendale Redev. Proj.), Ser. 2010,
5.50%, due 12/1/24
|
2,016
|
||
|
1,000
|
Imperial Comm. College Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, (AGM Insured),
0.00%, due 8/1/40
|
901
|
h | |
|
1,500
|
Inglewood Pub. Fin. Au. Ref. Rev., Ser. 1999-A, (AMBAC Insured) 5.63%, due 8/1/15
|
1,505
|
||
|
440
|
Long Beach Fin. Au. Rev., Ser. 1992, (AMBAC Insured), 6.00%, due 11/1/17
|
465
|
||
|
4,000
|
Los Angeles Dept. of Arpts. Rev. (Los Angeles Int'l Arpt.), Ser. 2002-A,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 5/15/18
|
4,072
|
||
|
1,045
|
Marin Co. Muni. Wtr. Dist. Wtr. Ref. Rev., Ser. 2002, (AMBAC Insured), 5.00%, due 7/1/17
|
1,066
|
||
|
2,900
|
Metro. Wtr. Dist. So. California Waterworks Rev., Ser. 2000-B3, (LOC: Wells Fargo Bank NA),
0.10%, due 7/1/35
|
2,900
|
µ | |
|
1,070
|
Mill Valley Sch. Dist. G.O. Cap. Appreciation, Ser. 1994-A, 0.00%, due 8/1/19
|
796
|
||
|
1,000
|
Mountain House Pub. Fin. Au. Utils. Sys. Rev., Ser. 2007, 5.00%, due 12/1/22
|
986
|
||
|
535
|
Nevada & Placer Cos. Irrigation Dist. Cert. of Participation Rev., Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.00%, due 1/1/16
|
548
|
||
|
565
|
Nevada & Placer Cos. Irrigation Dist. Cert. of Participation Rev., Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.00%, due 1/1/17
|
578
|
||
|
500
|
Northstar Comm. Svcs. Dist. Spec. Tax (Comm. Facs. Dist. Number 1), Ser. 2006, 4.70%, due 9/1/18
|
370
|
||
|
500
|
Northstar Comm. Svcs. Dist. Spec. Tax (Comm. Facs. Dist. Number 1), Ser. 2006, 4.75%, due 9/1/19
|
360
|
||
|
1,045
|
Oakland G.O., Ser. 2002-A, (National Public Finance Guarantee Corp. Insured), 5.00%, due 1/15/15
|
1,053
|
||
|
1,210
|
Oakland G.O., Ser. 2002-A, (National Public Finance Guarantee Corp. Insured), 5.00%, due 1/15/18
|
1,217
|
||
|
605
|
Oakland Redev. Agcy. Rev. (Coliseum Area Redev. Proj.), Ser. 2003,
5.00%, due 9/1/16 Pre-Refunded 3/1/13
|
640
|
||
|
635
|
Oakland Redev. Agcy. Rev. (Coliseum Area Redev. Proj.), Ser. 2003,
5.00%, due 9/1/17 Pre-Refunded 3/1/13
|
672
|
||
|
1,290
|
Oakland Redev. Agcy. Sub. Tax Allocation Rev. (Central Dist. Redev. Proj.), Ser. 2003,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 9/1/17
|
1,304
|
||
|
1,445
|
Oceanside Cert. of Participation Ref. Rev., Ser. 2003-A, (AMBAC Insured), 5.25%, due 4/1/14
|
1,515
|
||
|
1,500
|
Pico Rivera Pub. Fin. Au. Lease Rev., Ser. 2009, 4.75%, due 9/1/25
|
1,532
|
||
|
3,890
|
Port of Oakland Ref. Rev., Ser. 2002-N, (National Public Finance Guarantee Corp. Insured),
5.00%, due 11/1/13
|
4,038
|
||
|
440
|
Roseville Stone Point Comm. Fac. Dist. Number 1 Special Tax Rev., Ser. 2003, 5.70%, due 9/1/17
|
441
|
||
|
1,000
|
Sacramento City Fin. Au. Ref. Rev. (Master Lease Prog. Facs.), Ser. 2006-E, (AMBAC Insured),
5.25%, due 12/1/24
|
1,103
|
||
|
2,600
|
Sacramento Muni. Utils. Dist. Elec. Rev., Ser. 1997-K, (AMBAC Insured), 5.70%, due 7/1/17
|
3,046
|
||
|
1,350
|
San Bernardino Comm. College Dist. G.O. (Election 2002), Ser. 2008-A, 6.25%, due 8/1/24
|
1,569
|
||
|
400
|
San Diego Pub. Facs. Fin. Au. Lease Rev. (Ballpark), Ser. 2007-A, (AMBAC Insured), 5.25%, due 2/15/19
|
431
|
||
|
830
|
San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 4.80%, due 9/1/15
|
830
|
||
|
820
|
San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 4.90%, due 9/1/16
|
820
|
||
|
2,000
|
San Diego Unified Sch. Dist. G.O. (Election 1998), Ser. 2002-D, (FGIC Insured), 5.25%, due 7/1/21
|
2,080
|
||
|
1,000
|
San Francisco City & Co. Arpts. Commission Int'l. Ref. Rev., Ser. 2009-C2, 5.00%, due 5/1/21
|
1,109
|
||
|
2,115
|
San Francisco City & Co. Redev. Fin. Au. Tax Allocation (San Francisco Redev. Proj.), Ser. 2003-B,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 8/1/18
|
2,200
|
||
|
1,615
|
San Jose Arpt. Ref. Rev., Ser. 2003-B, (AGM Insured), 5.00%, due 3/1/12
|
1,638
|
||
|
925
|
San Jose Multi-Family Hsg. Rev. (Fallen Leaves Apts. Proj.), Ser. 2002-J1, (AMBAC Insured),
4.95%, due 12/1/22
|
868
|
ß | |
|
1,900
|
San Jose Redev. Agcy. Tax Allocation Ref. (Merged Area Redev. Proj.), Ser. 2006-D, (AMBAC Insured),
5.00%, due 8/1/18
|
1,883
|
||
|
1,060
|
San Jose Redev. Agcy. Tax Allocation Ref. (Merged Area Redev. Proj.), Ser. 2006-D, (AMBAC Insured),
5.00%, due 8/1/21
|
1,026
|
||
|
1,000
|
San Mateo Union High Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A,
0.00%, due 9/1/25
|
456
|
||
|
1,000
|
San Rafael City High Sch. Dist. G.O. Cap. Appreciation (Election 2002), Ser. 2004-B,
(National Public Finance Guarantee Corp. Insured), 0.00%, due 8/1/18
|
780
|
||
|
1,390
|
San Rafael Redev. Agcy. Tax Allocation Ref. (Central San Rafael Redev. Proj.), Ser. 2009,
(Assured Guaranty Insured), 5.00%, due 12/1/21
|
1,534
|
See Notes to Schedule of Investments
7
Schedule of Investments California Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$1,620
|
Santa Clara Co. Fremont Union High Sch. Dist. G.O. (Election 1998), Ser. 2002-C,
(AGM Insured), 5.00%, due 9/1/20 Pre-Refunded 9/1/12
|
$
|
1,683
|
|
|
485
|
Santa Maria Bonita Sch. Dist. Cert. of Participation (Cap. Imp. & Ref. Proj.), Ser. 1998,
(National Public Finance Guarantee Corp. Insured), 5.00%, due 3/1/14
|
487
|
||
|
525
|
Sierra View Local Hlth. Care Dist. Rev., Ser. 2007, 4.40%, due 7/1/13
|
539
|
||
|
505
|
Sierra View Local Hlth. Care Dist. Rev., Ser. 2007, 4.50%, due 7/1/14
|
523
|
||
|
560
|
South Gate Pub. Fin. Au. Tax Allocation Rev. (South Gate Redev. Proj. Number 1), Ser. 2002,
(XLCA Insured), 5.00%, due 9/1/16
|
569
|
||
|
1,500
|
Sulphur Springs Union Sch. Dist. Cert. of Participation (Cap. Appreciation), Ser. 2010,
|
1,306
|
c
|
|
|
1,250
|
Sunnyvale Sch. Dist. G.O. (Election 2004), Ser. 2005-A, (AGM Insured), 5.00%, due 9/1/21
|
1,336
|
||
|
1,300
|
Tulare Local Hlth. Care Dist., Ser. 2007, 5.00%, due 11/1/20
|
1,304
|
||
|
3,000
|
Victor Valley Comm. College Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2009-C,
0.00%, due 8/1/37
|
2,055
|
i
|
|
|
2,250
|
Wiseburn Sch. Dist. G.O. Cap Appreciation (Election 2010), Ser. 2011-B, (AGM Insured),
0.00%, due 8/1/36
|
917
|
j
|
|
|
115,757
|
||||
| Guam (3.5%) | ||||
|
1,110
|
Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.25%, due 11/1/18
|
1,172
|
||
|
700
|
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2005, 5.50%, due 7/1/16
|
731
|
||
|
1,000
|
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25
|
978
|
||
|
2,881
|
||||
| Illinois (1.6%) | ||||
|
815
|
Bartlett Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17
|
794
|
||
|
500
|
Illinois Fin. Au. Rev. (Navistar Int'l Rec. Zone Fac.), Ser. 2010, 6.50%, due 10/15/40
|
515
|
ß
|
|
|
1,309
|
||||
| Massachusetts (1.2%) | ||||
|
1,000
|
Massachusetts St. HFA Rev., Ser. 2010-C, 5.00%, due 12/1/30
|
975
|
||
| Nevada (1.4%) | ||||
|
1,000
|
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23
|
1,129
|
||
| New York (1.8%) | ||||
|
1,000
|
Nassau Co. IDA Continuing Care Retirement (The Amsterdam Harborside), Ser. 2007-A,
5.88%, due 1/1/18
|
1,019
|
ß
|
|
|
500
|
New York City IDA Liberty Rev. (7 World Trade Ctr., LLC Proj.), Ser. 2005-A, 6.25%, due 3/1/15
|
503
|
ß
|
|
|
1,522
|
||||
| Pennsylvania (3.2%) | ||||
|
1,000
|
Cumberland Co. West Shore Area Au. Hosp. Rev. (Holy Spirit Hosp. of the Sisters of
Christian Charity Proj.), Ser. 2001, 6.00%, due 1/1/18 Pre-Refunded 1/1/12
|
1,009
|
ß
|
|
|
2,000
|
Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2,
0.00%, due 12/1/34
|
1,665
|
b
|
|
|
2,674
|
||||
| Puerto Rico (11.2%) | ||||
|
1,500
|
Puerto Rico Elec. Pwr. Au. Ref. Rev., Ser. 2007-VV, 5.50%, due 7/1/20
|
1,662
|
||
|
1,000
|
Puerto Rico Elec. Pwr. Au. Rev., Ser. 2010-XX, 5.25%, due 7/1/35
|
1,006
|
||
|
1,000
|
Puerto Rico Ind., Tourist, Ed., Med. & Env. Ctrl. Fac. Rev. (Polytechnic Univ. of Puerto Rico Proj.),
Ser. 2002-A, (ACA Insured), 5.25%, due 8/1/15
|
1,012
|
ß
|
|
See Notes to Schedule of Investments
8
Schedule of Investments California Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$3,000
|
Puerto Rico Muni. Fin. Agcy. Rev., Ser. 2002-A, (AGM Insured), 5.25%, due 8/1/17
|
$
|
3,061
|
||
|
1,000
|
Puerto Rico Muni. Fin. Agcy. Rev., Ser. 2002-A, (AGM Insured), 5.25%, due 8/1/21
|
1,013
|
|||
|
1,500
|
Puerto Rico Sales Tax Fin. Corp. Rev., Subser. 2009-A, 5.00%, due 8/1/24
|
1,590
|
|||
|
9,344
|
|||||
|
Texas (2.0%)
|
|||||
|
1,750
|
Love Field Arpt. Modernization Corp. Spec. Fac. Rev. (Southwest Airlines Co. Proj.), Ser. 2010,
5.25%, due 11/1/40
|
1,665
|
ß
|
||
|
|
|||||
|
Total Investments (166.0%) (Cost $134,921)
|
137,982
|
##
|
|||
|
Cash, receivables and other assets, less liabilities (5.0%)
|
4,145
|
||||
|
Liquidation Value of Auction Market Preferred Shares [(71.0%)]
|
(59,000
|
)
|
|||
|
Total Net Assets Applicable to Common Shareholders (100.0%)
|
$
|
83,127
|
|||
See Notes to Schedule of Investments
9
Schedule of Investments Intermediate Municipal Fund Inc.
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
Alabama (2.1%)
|
||||
|
$1,500
|
Courtland IDB Solid Waste Disp. Rev. (Champion Int'l Corp. Proj.), Ser. 1999, 6.00%, due 8/1/29
|
$
|
1,500
|
ß
|
|
4,210
|
DCH Hlth. Care Au. Hlth. Care Fac. Rev., Ser. 2002, 5.25%, due 6/1/14
|
4,306
|
||
|
5,806
|
||||
|
Arizona (8.3%)
|
||||
|
1,465
|
Arizona Energy Management Svcs. (Main) LLC Energy Conservation Rev.
(Arizona St. Univ. Proj.-Main Campus), Ser. 2002, (National Public Finance Guarantee Corp. Insured),
5.25%, due 7/1/17
|
1,501
|
ß
|
|
|
5,000
|
Arizona Sch. Fac. Board Cert. of Participation, Ser. 2008, (Assured Guaranty Insured),
5.13%, due 9/1/21
|
5,505
|
||
|
2,265
|
Arizona Wtr. Infrastructure Fin. Au. Rev. (Wtr. Quality), Ser. 2008-A, 5.00%, due 10/1/22
|
2,601
|
||
|
5,870
|
Mohave Co. Ind. Dev. Au. Correctional Fac. Contract Rev. (Mohave Prison LLC Expansion Proj.),
Ser. 2008, 7.50%, due 5/1/19
|
6,538
|
ß
|
|
|
1,840
|
Pinal Co. Cert. of Participation, Ser. 2004, 5.25%, due 12/1/18
|
1,946
|
||
|
1,155
|
Pinal Co. Cert. of Participation, Ser. 2004, 5.25%, due 12/1/22
|
1,195
|
||
|
1,750
|
Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2003, 6.15%, due 7/15/17
|
1,695
|
||
|
2,325
|
Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2006, 5.05%, due 7/15/18
|
2,074
|
||
|
23,055
|
||||
|
California (20.2%)
|
||||
|
1,775
|
California HFA Rev. (Home Mtge.), Ser. 2007-E, 5.00%, due 2/1/42
|
1,750
|
||
|
2,250
|
California Hlth. Fac. Fin. Au. Rev. (Cedars-Sinai Med. Ctr.), Ser. 2009, 5.00%, due 8/15/39
|
2,213
|
ß
|
|
|
1,725
|
California Infrastructure & Econ. Dev. Bank St. Sch. Fund (King City Joint Union High Sch.), Ser. 2010,
5.13%, due 8/15/24
|
1,728
|
||
|
1,955
|
California St. G.O., Ser. 2003, (AMBAC Insured), 5.00%, due 2/1/27
|
2,095
|
||
|
1,685
|
California St. G.O., Ser. 2007, (XLCA Insured), 4.50%, due 8/1/27
|
1,705
|
||
|
1,845
|
California St. G.O., Ser. 2005, 5.00%, due 3/1/19
|
1,983
|
||
|
1,500
|
California St. Pub. Works Board Lease Rev. (Dept. of Gen. Svcs. Cap East End), Ser. 2002-A,
(AMBAC Insured), 5.25%, due 12/1/17
|
1,557
|
||
|
4,000
|
California St. Var. Purp. G.O., Ser. 2009, 5.63%, due 4/1/25
|
4,487
|
||
|
1,240
|
California Statewide CDA Hlth. Fac. Rev. (Mem. Hlth. Svcs.), Ser. 2003-A, 6.00%, due 10/1/16
|
1,315
|
ß
|
|
|
1,125
|
California Statewide CDA Rev. (California Baptist Univ. Proj.), Ser. 2007-A, 5.30%, due 11/1/18
|
1,193
|
ß
|
|
|
2,000
|
Emery Unified Sch. Dist. G.O. (Election 2010), Ser. 2011-A, 6.50%, due 8/1/33
|
2,296
|
||
|
1,880
|
Golden St. Tobacco Securitization Corp. Tobacco Settlement Rev., Ser. 2003-A1, 6.25%, due 6/1/33
|
2,015
|
||
|
2,000
|
Imperial Comm. College Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, (AGM Insured),
0.00%, due 8/1/40
|
1,802
|
h
|
|
|
3,620
|
Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 2005-B, (AGM Insured),
0.00%, due 8/1/24
|
1,749
|
||
|
5,750
|
Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation (Election 2002), Ser. 2009-E,
(Assured Guaranty Insured), 0.00%, due 8/1/29
|
3,267
|
d
|
|
|
2,080
|
Oakland Redev. Agcy. Sub. Tax Allocation Rev. (Central Dist. Redev. Proj.), Ser. 2003,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 9/1/18
|
2,095
|
||
|
5,000
|
Redondo Beach Unified Sch. Dist. G.O., Ser. 2009, 0.00%, due 8/1/34
|
4,188
|
e
|
|
|
2,060
|
Rocklin Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 1994-B,
(National Public Finance Guarantee Corp. Insured), 0.00%, due 8/1/19
|
1,495
|
||
|
2,000
|
San Bernardino Comm. College Dist. G.O. Cap. Appreciation (Election), Ser. 2009-B, 0.00%, due 8/1/34
|
1,309
|
f
|
|
|
740
|
San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 5.00%, due 9/1/17
|
741
|
||
|
2,000
|
San Francisco City & Co. Arpt. Commission Int'l Arpt. Ref. Rev., Ser. 2009-C2, 5.00%, due 5/1/25
|
2,123
|
||
|
6,000
|
San Mateo Foster City Sch. Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2010-A, 0.00%, due 8/1/32
|
3,195
|
g
|
|
|
9,070
|
Victor Valley Comm. College Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2009-C,
0.00%, due 8/1/37
|
6,212
|
i
|
|
|
5,095
|
Victor Valley Joint Union High Sch. Dist. G.O. Cap. Appreciation Bonds, Ser. 2009,
(Assured Guaranty Insured), 0.00%, due 8/1/26
|
2,263
|
||
|
3,000
|
Wiseburn Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-B, (AGM Insured),
0.00%, due 8/1/36
|
1,223
|
j
|
|
|
55,999
|
||||
See Notes to Schedule of Investments
10
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
Colorado (5.2%)
|
||||
|
$4,220
|
Colorado Springs Utils. Sys. Sub. Lien Ref. Rev., Ser. 2002-A, (AMBAC Insured), 5.38%, due 11/15/18
|
$
|
4,400
|
|
|
720
|
Denver City & Co. Arpt. Sys. Ref. Rev., Ser. 1991-D, (XLCA Insured), 7.75%, due 11/15/13
|
768
|
||
|
4,000
|
Denver City & Co. Arpt. Sys. Ref. Rev., Ser. 2002-E,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 11/15/14
|
4,144
|
||
|
5,000
|
Denver City & Co. Arpt. Sys. Rev., Ser. 2011-B, 5.00%, due 11/15/24
|
5,253
|
||
|
14,565
|
||||
|
District of Columbia (1.2%)
|
||||
|
1,000
|
Metro. Washington Dist. of Columbia Arpt. Au. Sys., Ser. 2008-A, 5.50%, due 10/1/18
|
1,151
|
||
|
2,000
|
Metro. Washington Dist. of Columbia Arpt. Au. Sys. Rev., Ser. 2011-C, 5.00%, due 10/1/26
|
2,087
|
||
|
3,238
|
||||
|
Florida (1.6%)
|
||||
|
1,000
|
Hillsborough Co. Ind. Dev. Au. IDR (Hlth. Facs.), Ser. 2008-B, 8.00%, due 8/15/32 Pre-Refunded 8/15/19
|
1,395
|
ß
|
|
|
2,000
|
Lee Co. Arpt. Ref. Rev., Ser. 2011-A, 5.63%, due 10/1/25
|
2,121
|
||
|
1,000
|
Sarasota Co. Util. Sys. Ref. Rev., Ser. 2002-C, (National Public Finance Guarantee Corp. Insured),
5.25%, due 10/1/20
|
1,034
|
||
|
4,550
|
||||
|
Georgia (2.8%)
|
||||
|
4,575
|
Henry Co. Wtr. & Swr. Au. Ref. Rev., Ser. 2002-A, (National Public Finance Guarantee Corp. Insured),
5.13%, due 2/1/17
|
4,854
|
||
|
2,710
|
Newnan Hosp. Au. Rev. Anticipation Cert. (Newnan Hosp., Inc. Proj.), Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 1/1/18 Pre-Refunded 1/1/13
|
2,871
|
ß
|
|
|
7,725
|
||||
|
Guam (2.6%)
|
||||
|
1,220
|
Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.75%, due 11/1/20
|
1,327
|
||
|
650
|
Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.75%, due 11/1/21
|
705
|
||
|
2,550
|
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2005, 6.00%, due 7/1/25
|
2,593
|
||
|
2,630
|
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25
|
2,572
|
||
|
7,197
|
||||
|
Hawaii (3.5%)
|
||||
|
5,200
|
Hawaii St. Arpt. Sys. Ref. Rev., Ser. 2011, 4.13%, due 7/1/24
|
5,052
|
||
|
2,500
|
Hawaii St. Dept. of Budget & Fin. Spec. Purp. Rev. (Hawaii Elec. Co. ,Inc.), Ser. 1999-D,
(AMBAC Insured), 6.15%, due 1/1/20
|
2,526
|
ß
|
|
|
2,000
|
Hawaii St. Dept. of Budget & Fin. Spec. Purp. Rev. (Hawaii Elec. Co., Inc.—Subsidiary), Ser. 2009,
6.50%, due 7/1/39
|
2,134
|
ß
|
|
|
9,712
|
||||
|
Illinois (14.5%)
|
||||
|
4,800
|
Bartlett Sr. Lien Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17
|
4,677
|
||
|
180
|
Chicago G.O. (Unrefunded Bal.), Ser. 2002-A, (AMBAC Insured), 5.38%, due 1/1/17
|
184
|
||
|
1,500
|
||||
|
|
Chicago Metro. Wtr. Reclamation Dist. Cap. Imp. G.O., Ser. 2002-C,
5.38%, due 12/1/16 Pre-Refunded 12/1/12
|
1,582
|
||
|
1,970
|
Cook Co. Township High Sch. Dist. Number 225 Northfield Township, Ser. 2008, 5.00%, due 12/1/25
|
2,164
|
||
|
5,130
|
Illinois Ed. Fac. Au. Rev. (Field Museum of Natural History), Ser. 2002,
4.30%, due 11/1/36 Putable 11/1/13
|
5,306
|
µß
|
|
|
1,875
|
Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.00%, due 4/1/16
|
2,015
|
ß
|
|
|
4,000
|
Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.75%, due 4/1/24
|
4,149
|
ß
|
|
|
3,795
|
Illinois Fin. Au. Rev. (Clare Oaks Proj.), Ser. 2006-A, 5.75%, due 11/15/16
|
2,435
|
ß
|
|
See Notes to Schedule of Investments
11
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$1,960
|
Illinois Fin. Au. Rev. (Navistar Int'l Rec. Zone Fac.), Ser. 2010, 6.50%, due 10/15/40
|
$
|
2,020
|
ß
|
|
5,840
|
Illinois Fin. Au. Rev. (Provena Hlth.), Ser. 2010-A, 6.25%, due 5/1/22
|
6,357
|
ß
|
|
|
3,000
|
Illinois Hlth. Fac. Au. Rev. (Loyola Univ. Hlth. Sys.) (Unrefunded Bal.), Ser. 1997-A,
(National Public Finance Guarantee Corp. Insured), 6.00%, due 7/1/14 |
3,190
|
ß
|
|
|
1,670
|
Illinois Metro. Pier & Exposition Au. Dedicated St. Tax Ref. Rev., Ser. 1998-A, (FGIC Insured),
5.50%, due 6/15/17 Pre-Refunded 6/15/17 |
2,015
|
||
|
2,110
|
Pingree Grove Village Rev. (Cambridge Lakes Learning Ctr. Proj.), Ser. 2011, 8.00%, due 6/1/26
|
2,138
|
ß
|
|
|
1,850
|
Will Co. High Sch. Dist. Number 204 G.O. (Joliet Jr. College), Ser. 2011-A, 6.25%, due 1/1/31
|
2,048
|
||
|
40,280
|
||||
|
Indiana (8.5%)
|
||||
|
4,000
|
Indiana Bond Bank Rev. (Spec. Prog. Clark Mem. Hosp.), Ser. 2009-D, 5.50%, due 8/1/29
|
4,164
|
ß
|
|
|
965
|
Indiana Bond Bank Rev. (Unrefunded Bal. St. Revolving Fund Prog.), Ser. 2001-A, 5.38%, due 2/1/17
|
1,020
|
||
|
320
|
Indiana Bond Bank Rev. (Unrefunded Bal. St. Revolving Fund Prog.), Ser. 2002-B, 5.25%, due 2/1/18
|
335
|
||
|
4,000
|
Indiana Hlth. & Ed. Fac. Fin. Au. Hosp. Ref. Rev. (Clarian Hlth. Oblig. Group), Ser. 2006-B,
5.00%, due 2/15/21 |
4,212
|
ß
|
|
|
2,050
|
Indiana Hlth. Fac. Fin. Au. Rev. (Hlth. Sys. Sisters of St. Francis), Ser. 2001, 5.35%, due 11/1/15
|
2,076
|
ß
|
|
|
1,000
|
Indiana Muni. Pwr. Agcy. Pwr. Supply Sys. Rev., Ser. 2003-B,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 1/1/18 |
1,032
|
||
|
1,065
|
Indiana St. Rec. Dev. Comm. Rev., Ser. 2002, (AMBAC Insured), 5.25%, due 7/1/18
|
1,093
|
||
|
1,125
|
Indiana St. Rec. Dev. Comm. Rev., Ser. 2002, (AMBAC Insured), 5.25%, due 7/1/19
|
1,153
|
||
|
3,055
|
Indiana Trans. Fin. Au. Hwy. Ref. Rev., Ser. 2004-B,
(National Public Finance Guarantee Corp. Insured), 5.75%, due 12/1/21 |
3,814
|
||
|
2,580
|
Indianapolis Local Pub. Imp. Rev. (Indianapolis Arpt. Au. Proj.), Ser. 2003-A, (AGM Insured),
5.63%, due 1/1/17 |
2,663
|
||
|
2,000
|
Jasper Hosp. Au. Hosp. Fac. Ref. Rev. (Mem. Hosp. & Hlth. Care Ctr. Proj.), Ser. 2002, (Radian Insured),
5.50%, due 11/1/17 |
2,058
|
ß
|
|
|
23,620
|
||||
|
Iowa (4.0%)
|
||||
|
1,000
|
Coralville Urban Renewal Rev., Tax Increment, Ser. 2007-C, 5.00%, due 6/1/15
|
1,079
|
||
|
5,110
|
Iowa Fin. Au. Rev. (St. Revolving Fund Prog.), Ser. 2008, 5.50%, due 8/1/22
|
5,959
|
||
|
2,750
|
Iowa Std. Loan Liquidity Corp. Std. Loan Rev., Ser. 2009-3, 5.50%, due 12/1/19
|
2,939
|
||
|
1,005
|
Kirkwood Comm. College Iowa New Jobs Training Cert. G.O. (Merged Area X), Ser. 2007-1B,
5.00%, due 6/1/17 |
1,082
|
||
|
11,059
|
||||
|
Kentucky (0.9%)
|
||||
|
2,470
|
Louisville & Jefferson Co. Reg. Arpt. Au. Spec. Facs. Rev. (AIRIS Louisville LLC Proj.), Ser. 1999-A,
5.50%, due 3/1/19 |
2,461
|
ß
|
|
|
10
|
Shelby Co. Lease Rev., Ser. 2004-A, (LOC: U.S. Bank), 0.14%, due 9/1/34
|
10
|
µ
|
|
|
2,471
|
||||
|
Louisiana (0.6%)
|
||||
|
1,500
|
Louisiana Local Gov't Env. Fac. & Comm. (Westlake Chemical Corp.), Ser. 2010-A2,
6.50%, due 11/1/35 |
1,563
|
ß
|
|
|
Maryland (0.4%)
|
||||
|
1,000
|
Maryland St. Hlth. & Higher Ed. Fac. Au. Rev. (Union Hosp. of Cecil Co.), Ser. 2002,
5.50%, due 7/1/14 |
1,020
|
ß
|
|
|
Massachusetts (8.1%)
|
||||
|
1,850
|
Massachusetts St. G.O., Ser. 2002-E, (National Public Finance Guarantee Corp. Insured),
5.38%, due 1/1/18 Pre-Refunded 1/1/13 |
1,953
|
||
See Notes to Schedule of Investments
12
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$5,000
|
Massachusetts St. HFA Hsg. Rev., Ser. 2010-C, 4.90%, due 12/1/25
|
$
|
5,010
|
|
|
1,375
|
Massachusetts St. HFA Hsg. Rev., Ser. 2010-C, 5.00%, due 12/1/30
|
1,340
|
||
|
1,025
|
Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (Milford-Whitinsville Reg. Hosp.), Ser. 1998-C,
5.75%, due 7/15/13
|
1,026
|
ß
|
|
|
4,935
|
Massachusetts St. Hlth. & Ed. Fac. Au. Rev. (New England Med. Ctr. Hosp.), Ser. 2002-H,
(FGIC Insured), 5.38%, due 5/15/16 Pre-Refunded 5/15/12
|
5,068
|
ß
|
|
|
5,030
|
Massachusetts St. Wtr. Poll. Abatement Trust Rev. (MWRA Prog.), Ser. 2002-A, 5.25%, due 8/1/19
|
5,195
|
||
|
2,775
|
Massachusetts St. Wtr. Poll. Abatement Trust Rev. (Unrefunded Bal. Rev. Pool Prog.), Ser. 2001-7,
5.25%, due 2/1/16
|
2,785
|
||
|
22,377
|
||||
|
Michigan (3.5%)
|
||||
|
1,375
|
Macomb Co. New Haven Comm. Sch. Bldg. & Site G.O., Ser. 2002,
5.25%, due 5/1/17 Pre-Refunded 11/1/12
|
1,441
|
||
|
2,000
|
Oakland Co. Econ. Dev. Corp. Ltd. Oblig. Rev. (Michigan Motion Picture Studios Proj. Rec. Zone),
Ser. 2010-A, 7.00%, due 8/1/40
|
2,003
|
||
|
3,850
|
Royal Oak Hosp. Fin. Au. Hosp. Ref. Rev. (William Beaumont Hosp.), Ser. 1996, 6.25%, due 1/1/12
|
3,879
|
ß
|
|
|
2,000
|
Summit Academy North Pub. Sch. Academy Ref. Rev., Ser. 2005, 5.25%, due 11/1/20
|
1,886
|
||
|
555
|
Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.00%, due 11/1/15
|
553
|
||
|
9,762
|
||||
|
Minnesota (3.3%)
|
||||
|
2,000
|
Freeborn Co. Hsg. & Redev. Au. Lease Rev. (Criminal Justice Ctr. Proj.), Ser. 2002,
5.38%, due 2/1/17 Pre-Refunded 2/1/12
|
2,025
|
||
|
2,000
|
Maple Grove Hlth. Care Sys. Rev. (Maple Grove Hosp. Corp.), Ser. 2007, 5.00%, due 5/1/17
|
2,185
|
ß
|
|
|
2,250
|
Minneapolis & St. Paul Hsg. & Redev. Au. Hlth. Care Sys. (Children's Hlth. Care Facs.), Ser. 2010-A1,
(AGM Insured), 4.50%, due 8/15/24
|
2,412
|
ß
|
|
|
2,540
|
St. Paul Port Au. Lease Rev. (Office Bldg.), Ser. 2002, 5.00%, due 12/1/17
|
2,640
|
||
|
9,262
|
||||
|
Mississippi (1.7%)
|
||||
|
4,000
|
Mississippi Bus. Fin. Corp. Gulf Opportunity Zone Rev., Ser. 2009-A, 4.70%, due 5/1/24
|
4,138
|
ß
|
|
|
500
|
Mississippi Dev. Bank Spec. Oblig. (Wilkinson Co. Correctional), Ser. 2008-D, 5.00%, due 8/1/15
|
574
|
ß
|
|
|
4,712
|
||||
|
Missouri (6.0%)
|
||||
|
3,495
|
Bi State Dev. Agcy. Metro. Dist. Rev. (Metrolink Cross Co. Proj.), Ser. 2002-B, (AGM Insured),
5.25%, due 10/1/16
|
3,764
|
||
|
1,710
|
Boone Co. Hosp. Ref. Rev. (Boone Hosp. Ctr.), Ser. 2002, 5.05%, due 8/1/20
|
1,721
|
ß
|
|
|
2,425
|
Branson Dev. Fin. Board Infrastructure Fac. Board Rev., Ser. 2003-A, 5.00%, due 12/1/17
|
2,547
|
||
|
570
|
Branson Ind. Dev. Au. Tax Increment Rev. (Branson Landing-Retail Proj.), Ser. 2005, 5.25%, due 6/1/21
|
500
|
||
|
1,250
|
Missouri St. Env. Imp. & Energy Res. Au. Wtr. PCR (Drinking Wtr.), Ser. 2002-B,
5.50%, due 7/1/16 Pre-Refunded 1/1/13
|
1,324
|
||
|
750
|
Missouri St. Env. Imp. & Energy Res. Au. Wtr. PCR (Unrefunded Bal. Drinking Wtr.), Ser. 2002-B,
5.50%, due 7/1/16
|
790
|
||
|
2,275
|
Missouri St. Hlth. & Ed. Fac. Au. Rev. (Children's Mercy Hosp.), Ser. 2009, 5.13%, due 5/15/24
|
2,375
|
ß
|
|
|
245
|
Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev., Ser. 2001-II, (FHA Insured), 5.25%, due 12/1/16
|
245
|
k
|
|
|
110
|
Missouri St. Hsg. Dev. Comm. Multi-Family Hsg. Rev., Ser. 2001-III, (FHA Insured), 5.05%, due 12/1/15
|
110
|
||
|
2,965
|
Missouri St. Univ. Auxiliary Enterprise Sys. Rev., Ser. 2007-A, (XLCA Insured), 5.00%, due 4/1/26
|
3,152
|
||
|
16,528
|
||||
|
Nevada (3.7%)
|
||||
|
1,635
|
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 6.50%, due 6/15/17
|
1,798
|
||
|
3,545
|
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23
|
4,002
|
||
See Notes to Schedule of Investments
13
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$4,355
|
Las Vegas Valley Wtr. Dist. Ref. & Wtr. Imp. G.O., Ser. 2003-A,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 6/1/16 Pre-Refunded 12/1/12
|
$
|
4,586
|
|
|
10,386
|
||||
|
New Hampshire (3.0%)
|
||||
|
2,600
|
New Hampshire Hlth. & Ed. Fac. Au. Rev. (Dartmouth-Hitchcock Clinic), Ser. 2009, 5.00%, due 8/1/19
|
2,759
|
ß
|
|
|
2,500
|
Strafford Co. G.O., Ser. 2011, 5.50%, due 2/19/12
|
2,504
|
||
|
3,000
|
Strafford Co. G.O. (TANS), Ser. 2011, 6.50%, due 12/30/11
|
3,005
|
||
|
8,268
|
||||
|
New Jersey (2.7%)
|
||||
|
6,900
|
New Jersey Ed. Fac. Au. Rev. (Stevens Institute of Technology), Ser. 2002-C,
5.25%, due 7/1/17 Pre-Refunded 7/1/13
|
7,441
|
ß
|
|
|
New York (8.2%)
|
||||
|
465
|
Lyons Comm. Hlth. Initiatives Corp. Fac. Rev., Ser. 2004, 5.50%, due 9/1/14
|
495
|
||
|
2,580
|
New York City IDA Civic Fac. Rev. (Lycee Francais de New York Proj.), Ser. 2002-A,
(ACA Insured), 5.50%, due 6/1/14
|
2,670
|
ß
|
|
|
2,750
|
New York City IDA Liberty Rev. (7 World Trade Ctr., LLC Proj.), Ser. 2005-A, 6.25%, due 3/1/15
|
2,764
|
ß
|
|
|
60
|
New York G.O., Ser. 2002-C, 5.50%, due 8/1/15 Pre-Refunded 2/1/13
|
64
|
||
|
3,190
|
New York G.O. (Unrefunded Bal.), Ser. 2002-C, 5.50%, due 8/1/15
|
3,372
|
||
|
1,100
|
New York Liberty Dev. Corp. Rev. (Nat'l Sports Museum Proj.), Ser. 2006-A, 6.13%, due 2/15/19
|
0
|
#‡
|
|
|
1,700
|
New York St. Dorm. Au. Personal Income Tax Rev., Ser. 2003-A,
5.38%, due 3/15/20 Pre-Refunded 3/15/13
|
1,817
|
||
|
4,000
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), Ser. 2009,
5.25%, due 7/1/33
|
4,174
|
ß
|
|
|
2,000
|
New York St. HFA Rev. (Affordable Hsg.), Ser. 2009-B, 4.85%, due 11/1/41
|
2,016
|
||
|
2,000
|
New York St. Urban Dev. Corp. Rev., Ser. 2008-D, 5.25%, due 1/1/20
|
2,307
|
||
|
3,000
|
Tobacco Settlement Fin. Corp., Ser. 2003-B-1C, 5.50%, due 6/1/21
|
3,203
|
||
|
22,882
|
||||
|
North Carolina (2.4%)
|
||||
|
5,250
|
North Carolina Muni. Pwr. Agcy. Number 1 Catawba Elec. Rev., Ser. 2009-A, 5.00%, due 1/1/26
|
5,689
|
||
|
1,000
|
Oak Island Enterprise Sys. Rev., Ser. 2009, (Assured Guaranty Insured), 5.63%, due 6/1/24
|
1,116
|
||
|
6,805
|
||||
|
North Dakota (1.5%)
|
||||
|
4,100
|
Fargo Hlth. Sys. Rev. (Meritcare Obligated Group), Ser. 2002-A, (AMBAC Insured),
5.63%, due 6/1/17 Pre-Refunded 6/1/12
|
4,227
|
ß
|
|
|
Ohio (2.4%)
|
||||
|
2,750
|
New Albany Comm. Facs. Au. Rev., Ser. 2001-B, (AMBAC Insured), 5.13%, due 10/1/21
|
2,761
|
||
|
3,760
|
Ohio St. Air Quality Dev. Au. Env. Imp. Ref. Rev. (USX Corp. Proj.), Ser. 1995,
5.00%, due 11/1/15 Putable 11/1/11
|
3,816
|
µß
|
|
|
6,577
|
||||
|
Oregon (0.1%)
|
||||
|
195
|
Medford Hosp. Facs. Au. Rev. (Rogue Valley Manor Proj.), Ser. 2007, (LOC: Bank of America),
0.18%, due 8/15/37
|
195
|
µß
|
|
See Notes to Schedule of Investments
14
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
Pennsylvania (4.6%)
|
||||
|
$1,765
|
Cumberland Co. West Shore Area Au. Hosp. Rev. (Holy Spirit Hosp. of the Sisters of
Christian Charity Proj.), Ser. 2001, 6.05%, due 1/1/19 Pre-Refunded 1/1/12
|
$
|
1,782
|
ß
|
|
565
|
Delaware River Joint Toll Bridge Comm. Sys. Rev., Ser. 2003, 5.25%, due 7/1/18 Pre-Refunded 7/1/13
|
610
|
||
|
435
|
Delaware River Joint Toll Bridge Comm. Sys. Rev. (Unrefunded Bal.), Ser. 2003, 5.25%, due 7/1/18
|
453
|
||
|
2,000
|
Lancaster Co. Hosp. Au. Rev. (Brethren Village Proj.), Ser. 2008-A, 6.10%, due 7/1/22
|
2,036
|
ß
|
|
|
5,000
|
Montgomery Co. Higher Ed. & Hlth. Au. Hosp. Rev. (Abington Mem. Hosp. Proj.), Ser. 2002-A,
5.00%, due 6/1/19
|
5,080
|
ß
|
|
|
1,000
|
Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2,
0.00%, due 12/1/34
|
832
|
b
|
|
|
1,480
|
Sayre Hlth. Care Fac. Au. Rev., (Guthrie Hlth. Proj.), Ser. 2002-A,
5.75%, due 12/1/21 Pre-Refunded 12/1/11
|
1,501
|
ß
|
|
|
520
|
Sayre Hlth. Care Fac. Au. Rev. (Unrefunded Bal.), (Guthrie Hlth. Proj.), Ser. 2002-A,
5.75%, due 12/1/21 Pre-Refunded 12/1/11
|
528
|
ß
|
|
|
12,822
|
||||
|
Puerto Rico (0.3%)
|
||||
|
750
|
Puerto Rico Elec. Pwr. Au. Pwr. Rev., Ser. 2010-XX, 5.25%, due 7/1/35
|
754
|
||
|
South Carolina (1.2%)
|
||||
|
1,100
|
Charleston Co. Sch. Dist. G.O., Ser. 2001, (AGM Insured), 5.00%, due 2/1/18 Pre-Refunded 2/1/12
|
1,113
|
||
|
2,140
|
Mt. Pleasant Town Waterworks & Swr. Sys. Ref. & Imp. Rev., Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 12/1/17
|
2,234
|
||
|
3,347
|
||||
|
Tennessee (2.2%)
|
||||
|
1,655
|
Knox Co. Hlth. Ed. & Hsg. Fac. Board Hosp. Fac. Rev., Ser. 2002-A, (AGM Insured),
5.50%, due 1/1/18 Pre-Refunded 1/1/13
|
1,752
|
||
|
1,360
|
Knox Co. Hlth. Ed. & Hsg. Fac. Board Hosp. Fac. Rev. (Unrefunded Bal.), Ser. 2002-A, (AGM Insured),
5.50%, due 1/1/18
|
1,391
|
||
|
2,705
|
Memphis-Shelby Co. Arpt. Au. Arpt. Rev., Ser. 2010-B, 5.50%, due 7/1/19
|
3,000
|
||
|
6,143
|
||||
|
Texas (11.9%)
|
||||
|
4,145
|
Anson Ed. Fac. Corp. Std. Hsg. Rev. (Univ. of Texas at Dallas-Waterview Park Proj.),
Ser. 2002, (ACA Insured), 5.00%, due 1/1/23
|
3,603
|
ß
|
|
|
3,600
|
Corpus Christi Tax & Muni. Hotel Occupancy Tax G.O., Ser. 2002, (AGM Insured), 5.50%, due 9/1/17
|
3,716
|
||
|
1,935
|
Dallas-Fort Worth Int'l Arpt. Imp. Rev., Ser. 2004-B, (AGM Insured), 5.50%, due 11/1/18
|
2,061
|
||
|
2,300
|
Harris Co. Perm. Imp. Ref. G.O., Ser. 2008-B, 5.00%, due 10/1/19 Pre-Refunded 10/1/18
|
2,786
|
||
|
2,900
|
Harris Co. Toll Road Sr. Lien Rev., Ser. 2008-B, 5.00%, due 8/15/33
|
3,015
|
||
|
2,210
|
Harris Co. Toll Road Sr. Lien Rev., (Unrefunded Bal.), Ser. 2002, (AGM Insured),
5.38%, due 8/15/16 Pre-Refunded 8/15/12
|
2,298
|
||
|
610
|
HFDC Ctr. Texas, Inc. Retirement Fac. Rev., Ser. 2006-A, 5.25%, due 11/1/15
|
589
|
ß
|
|
|
3,235
|
Houston Arpt. Sys. Sub. Lien. Ref. Rev., Ser. 2001-A,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 7/1/16
|
3,254
|
||
|
1,000
|
Houston Pub. Imp. Ref. G.O., Ser. 2008-A, 5.00%, due 3/1/20
|
1,147
|
||
|
3,000
|
North Texas Tollway Au. Dallas North Tollway Sys. Rev., Ser. 2005-C, 6.00%, due 1/1/23
|
3,422
|
||
|
950
|
Northwest Texas Independent Sch. Dist. Sch. Bldg., Ser. 2002, (PSF Insured),
5.50%, due 8/15/17 Pre-Refunded 2/15/13
|
1,012
|
||
|
50
|
Northwest Texas Independent Sch. Dist. Sch. Bldg. (Unrefunded Bal.), Ser. 2002, (PSF Insured),
5.50%, due 8/15/17
|
53
|
||
|
20
|
San Antonio Cert. of Oblig. G.O., Ser. 2002, 5.00%, due 2/1/14 Pre-Refunded 2/1/12
|
20
|
||
|
500
|
San Leanna Ed. Fac. Corp. Higher Ed. Ref. Rev., (St. Edwards Univ. Proj.), Ser. 2007, 5.00%, due 6/1/19
|
529
|
ß
|
|
|
910
|
Southmost Reg. Wtr. Au. Wtr. Supply Contract Rev., Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 9/1/19 Pre-Refunded 9/1/12
|
949
|
||
See Notes to Schedule of Investments
15
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$1,000
|
Southmost Reg. Wtr. Au. Wtr. Supply Contract Rev. (Unrefunded Bal.), Ser. 2002,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 9/1/19
|
$
|
1,019
|
|
|
85
|
Texas Std. Hsg. Corp. Std. Hsg. Rev. (Midwestern St. Univ. Proj.), Ser. 2002, 5.50%, due 9/1/12
|
88
|
||
|
1,000
|
Trinity River Au. Imp. & Ref. Rev. (Tarrant Co. Wtr. Proj.), Ser. 2003,
(National Public Finance Guarantee Corp. Insured), 5.50%, due 2/1/16 Pre-Refunded 2/1/13
|
1,063
|
||
|
1,085
|
Tyler Hlth. Fac. Dev. Corp. Hosp. Rev. (Mother Frances Hosp. Reg. Hlth. Care Ctr. Proj.),
Ser. 2003, 5.25%, due 7/1/13
|
1,126
|
ß
|
|
|
1,175
|
West Harris Co. Reg. Wtr. Au. Sys. Wtr. Rev., Ser. 2009, 5.00%, due 12/15/35
|
1,237
|
||
|
32,987
|
||||
|
Utah (2.3%)
|
||||
|
3,000
|
Salt Lake Co. Hosp. Rev. (IHC Hlth. Svc., Inc.), Ser. 2001, (AMBAC Insured), 5.40%, due 2/15/28
|
3,414
|
ß
|
|
|
1,200
|
Uintah Co. Muni. Bldg. Au. Lease Rev., Ser. 2008, 5.25%, due 6/1/20
|
1,322
|
||
|
500
|
Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.00%, due 7/1/20
|
514
|
||
|
450
|
Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.25%, due 7/1/21
|
466
|
||
|
650
|
Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.45%, due 7/1/22
|
673
|
||
|
6,389
|
||||
|
Virginia (1.0%)
|
||||
|
2,620
|
Peninsula Ports Au. Res. Care Fac. Ref. Rev. (VA Baptist Homes), Ser. 2006-C, 5.25%, due 12/1/21
|
1,821
|
ß
|
|
|
1,000
|
Virginia Beach Dev. Au. Residential Care Fac. Mtge. Ref. Rev.
(Westminster-Canterbury of Hampton Roads, Inc.), Ser. 2005, 5.00%, due 11/1/22
|
994
|
ß
|
|
|
2,815
|
||||
|
Washington (6.6%)
|
||||
|
6,250
|
Port of Seattle Sub. Lien Rev., Ser. 2002-B, (National Public Finance Guarantee Corp. Insured),
5.50%, due 9/1/16
|
6,385
|
||
|
1,000
|
Skagit Co. Pub. Hosp. Dist. Number 1 Ref. Rev., Ser. 2007, 5.63%, due 12/1/25
|
1,024
|
||
|
1,000
|
Skagit Co. Pub. Hosp. Dist. Ref. Rev., Ser. 2003, 6.00%, due 12/1/23
|
1,022
|
||
|
1,625
|
Skagit Co. Pub. Hosp. Dist. Ref. Rev., Ser. 2003, 6.00%, due 12/1/18
|
1,696
|
||
|
2,500
|
Tacoma Wtr. Sys. Rev., Ser. 2001, (National Public Finance Guarantee Corp. Insured),
5.13%, due 12/1/19 Pre-Refunded 12/1/11
|
2,510
|
||
|
2,525
|
Washington St. Higher Ed. Fac. Au. Ref. Rev. (Whitworth Univ. Proj.), Ser. 2009, 5.38%, due 10/1/29
|
2,512
|
ß
|
|
|
3,125
|
Washington St. Hlth. Care Fac. Au. Rev. (Yakima Valley Mem. Hosp. Assoc.), Ser. 2002, (ACA Insured),
5.00%, due 12/1/17
|
3,142
|
ß
|
|
|
18,291
|
||||
|
West Virginia (0.4%)
|
||||
|
1,000
|
West Virginia Sch. Bldg. Au. Excess Lottery Rev., Ser. 2008, 5.00%, due 7/1/19
|
1,147
|
||
|
Wisconsin (6.1%)
|
||||
|
595
|
Badger Tobacco Asset Securitization Corp. Tobacco Settlement Asset-Backed Rev., Ser. 2002,
6.13%, due 6/1/27 Pre-Refunded 6/1/12
|
615
|
||
|
1,900
|
Univ. of Wisconsin Hosp. & Clinics Au. Hosp. Rev., Ser. 2002-B, 5.50%, due 4/1/12
|
1,924
|
||
|
1,100
|
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College), Ser. 2010-A, 6.13%, due 6/1/35
|
1,106
|
ß
|
|
|
1,225
|
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College), Ser. 2010-A, 6.13%, due 6/1/39
|
1,227
|
ß
|
|
|
1,000
|
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Franciscan Sisters Hlth. Care), Ser. 2007, 5.00%, due 9/1/14
|
1,037
|
ß
|
|
|
2,780
|
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Kenosha Hosp. & Med. Ctr., Inc. Proj.), Ser. 1999,
5.50%, due 5/15/15
|
2,785
|
ß
|
|
|
5,000
|
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Marquette Univ.), Ser. 2008-B3, 5.00%, due 10/1/30
|
5,238
|
ß
|
|
|
3,000
|
Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Meriter Hosp., Inc.), Ser. 2009, 5.63%, due 12/1/29
|
3,096
|
ß
|
|
|
17,028
|
||||
See Notes to Schedule of Investments
16
Schedule of Investments Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
Wyoming (1.8%)
|
|||||
|
$4,895
|
Wyoming Comm. Dev. Au. Hsg. Rev., Ser. 2006-6, 5.00%, due 12/1/21
|
$
|
4,933
|
||
|
Other (0.8%)
|
|||||
|
3,000
|
Non-Profit Pfd. Fdg. Trust I, Ser. 2006-C, 4.72%, due 9/15/37
|
2,319
|
#
|
||
|
Total Investments (162.2%) (Cost $436,865)
|
450,257
|
##
|
|||
|
Cash, receivables and other assets, less liabilities (2.4%)
|
6,659
|
||||
|
Liquidation Value of Auction Market Preferred Shares [(64.6%)]
|
(179,400
|
)
|
|||
|
Total Net Assets Applicable to Common Shareholders (100.0%)
|
$
|
277,516
|
|||
See Notes to Schedule of Investments
17
Schedule of Investments New York Intermediate Municipal Fund Inc.
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
Arizona (0.7%)
|
||||
|
$500
|
Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2003, 6.15%, due 7/15/17
|
$
|
484
|
|
|
California (4.3%)
|
||||
|
3,115
|
Corona-Norca Unified Sch. Dist. G.O. Cap. Appreciation (Election 2006), Ser. 2009-C, (AGM Insured),
0.00%, due 8/1/24
|
1,611
|
||
|
1,470
|
Pico Rivera Pub. Fin. Au. Lease Rev., Ser. 2009, 4.75%, due 9/1/25
|
1,502
|
||
|
3,113
|
||||
|
Guam (3.7%)
|
||||
|
500
|
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2005, 5.50%, due 7/1/16
|
522
|
||
|
1,000
|
Guam Gov't Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25
|
978
|
||
|
1,135
|
Guam Gov't Hotel Occupancy Tax Rev., Ser. 2011-A, 5.50%, due 11/1/19
|
1,216
|
||
|
2,716
|
||||
|
Illinois (1.1%)
|
||||
|
815
|
Bartlett Sr. Lien Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17
|
794
|
||
|
Massachusetts (1.3%)
|
||||
|
1,000
|
Massachusetts St. HFA Hsg. Rev., Ser. 2010-C, 5.00%, due 12/1/30
|
975
|
||
|
Nevada (1.5%)
|
||||
|
1,000
|
Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23
|
1,129
|
||
|
New York (138.2%)
|
||||
|
3,000
|
Albany IDA Civic Fac. Rev. (Charitable Leadership Foundation Ctr. for Med. Science Proj.), Ser. 2002-A,
6.00%, due 7/1/19
|
1,709
|
ß
|
|
|
500
|
Cattaraugus Co. IDA Civic Fac. Rev. (St. Bonaventure Univ. Proj.), Ser. 2006-A, 5.00%, due 5/1/23
|
503
|
ß
|
|
|
1,000
|
Dutchess Co. IDA Civic Fac. Ref. Rev. (Marist College Proj.), Ser. 2003-A, 5.15%, due 7/1/17
|
1,029
|
ß
|
|
|
1,000
|
Erie Co. IDA Sch. Fac. Rev. (Buffalo City Sch. Dist.), Ser. 2009-A, 5.25%, due 5/1/25
|
1,108
|
||
|
1,500
|
Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.), Ser. 2009, 5.75%, due 7/1/23
|
1,643
|
ß
|
|
|
1,050
|
Long Island Pwr. Au. Elec. Sys. Gen. Rev., Ser. 2006-E, (BHAC Insured), 5.00%, due 12/1/21
|
1,166
|
||
|
535
|
Lyons Comm. Hlth. Initiatives Corp. Fac. Rev., Ser. 2004, 5.50%, due 9/1/14
|
569
|
||
|
1,000
|
Monroe Co. IDA Civic Fac. Rev. (Highland Hosp. of Rochester), Ser. 2005, 5.00%, due 8/1/15
|
1,072
|
ß
|
|
|
980
|
Monroe Co. IDA Std. Hsg. Rev. (Collegiate Hsg. Foundation—Rochester Institute of Technology Proj.),
Ser. 1999-A, 5.25%, due 4/1/19
|
944
|
ß
|
|
|
1,000
|
Monroe Co. Newpower Corp. Pwr. Fac. Rev., Ser. 2003, 5.10%, due 1/1/16
|
1,021
|
||
|
1,000
|
Monroe Co. Pub. Imp. Ref. G.O., Ser. 1996, 6.00%, due 3/1/13
|
1,065
|
||
|
700
|
Nassau Co. IDA Civic Fac. Rev. (Cold Spring Harbor Laboratory), Ser. 1999, (LOC: TD Bank N.A.),
0.12%, due 1/1/34
|
700
|
µß
|
|
|
1,000
|
Nassau Co. IDA Civic Fac. Rev. (Cold Spring Harbor Laboratory), Ser. 2008, (LOC: JP Morgan Chase),
0.12%, due 1/1/42
|
1,000
|
µß
|
|
|
1,125
|
Nassau Co. IDA Continuing Care Retirement (The Amsterdam Harborside), Ser. 2007-A,
5.88%, due 1/1/18
|
1,147
|
ß
|
|
|
30
|
New York City G.O., Ser. 2002-A, 5.75%, due 8/1/16 Pre-Refunded 8/1/12
|
31
|
||
|
970
|
New York City G.O., Ser. 2002-A, 5.75%, due 8/1/16
|
1,005
|
||
|
100
|
New York City G.O., Ser. 2006-I3, (LOC: Bank of America), 0.20%, due 4/1/36
|
100
|
µ
|
|
|
950
|
New York City G.O., Ser. 2009-B, 5.00%, due 8/1/22
|
1,085
|
||
|
1,000
|
New York City G.O., Ser. 2009-E, 5.00%, due 8/1/21
|
1,152
|
||
|
1,410
|
New York City Hlth. & Hosp. Corp. Rev., Ser. 2002-A, (AGM Insured),
5.50%, due 2/15/13 Pre-Refunded 2/15/12
|
1,431
|
||
|
4,000
|
New York City Hsg. Dev. Corp. Multi-Family Hsg. Rev., Ser. 2002-E2, 5.05%, due 11/1/23
|
4,011
|
||
|
1,000
|
New York City IDA Civic Fac. Rev. (Lycee Francais de New York Proj.), Ser. 2002-A, (ACA Insured),
5.50%, due 6/1/15
|
1,033
|
ß
|
|
See Notes to Schedule of Investments
18
Schedule of Investments New York Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$1,030
|
New York City IDA Civic Fac. Rev. (Lycee Francais de New York Proj.), Ser. 2002-A, (ACA Insured),
5.50%, due 6/1/17
|
$
|
1,060
|
ß
|
|
2,920
|
New York City IDA Civic Fac. Rev. (Packer Collegiate Institute Proj.), Ser. 2002, (AMBAC Insured),
5.00%, due 6/1/22
|
2,957
|
ß
|
|
|
750
|
New York City IDA Liberty Rev. (7 World Trade Ctr., LLC Proj.), Ser. 2005-A, 6.25%, due 3/1/15
|
754
|
ß
|
|
|
2,000
|
New York City IDA Spec. Fac. Rev. (Term. One Group Assoc. Proj.), Ser. 2005,
5.50%, due 1/1/19 Putable 1/1/16
|
2,129
|
µß
|
|
|
960
|
New York City Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev., Ser. 1992-A, (AMBAC Insured),
5.88%, due 6/15/13
|
1,045
|
||
|
2,000
|
New York City Transitional Fin. Au. (Future Tax Secured), Subser. 2002-C2,
(LOC: Landesbank Hessen-Thueringen Girozentrale), 0.20%, due 8/1/31
|
2,000
|
µ
|
|
|
2,025
|
New York City Transitional Fin. Au. Rev. (Future Tax Secured), Ser. 2002-C, (AMBAC Insured),
5.25%, due 8/1/17 Pre-Refunded 8/1/12
|
2,100
|
||
|
840
|
New York City Transitional Fin. Au. Rev. (NYC Rec.), Ser 2002-1D,
(LOC: Landesbank Hessen-Thueringen Girozentrale), 0.20%, due 11/1/22
|
840
|
µ
|
|
|
1,660
|
New York City Transitional Fin. Au. Rev. (NYC Rec.), Ser 2002-3B,
(LOC: Wells Fargo Bank N.A.), 0.09%, due 11/1/22
|
1,660
|
µ
|
|
|
660
|
New York Liberty Dev. Corp. Rev. (Nat'l Sports Museum Proj.), Ser. 2006-A, 6.13%, due 2/15/19
|
0
|
#‡
|
|
|
2,000
|
New York St. Dorm. Au. Court Fac. Lease Rev. (New York City Issue), Ser. 2003-A,
5.50%, due 5/15/17 Pre-Refunded 5/15/13
|
2,158
|
||
|
1,675
|
New York St. Dorm. Au. Insured Rev. (Long Island Univ.), Ser. 2003-A, (Radian Insured),
5.25%, due 9/1/15
|
1,701
|
ß
|
|
|
1,600
|
New York St. Dorm. Au. Insured Rev. (The Culinary Institute of America), Ser. 1999,
(National Public Finance Guarantee Corp. Insured), 5.38%, due 7/1/15
|
1,606
|
ß
|
|
|
3,000
|
New York St. Dorm. Au. Ref. Rev. (North Gen. Hosp. Proj.), Ser. 2003, 5.75%, due 2/15/17
|
3,097
|
ß
|
|
|
250
|
New York St. Dorm. Au. Rev. (Brookdale Hosp. Med. Ctr.), Ser. 1998-J, 5.20%, due 2/15/16
|
251
|
ß
|
|
|
1,125
|
New York St. Dorm. Au. Rev. (City Univ. Sys. Proj.), Ser. 1995-A, 5.63%, due 7/1/16
|
1,268
|
||
|
1,980
|
New York St. Dorm. Au. Rev. (New York Med. College Proj.), Ser. 1998,
(National Public Finance Guarantee Corp. Insured), 5.00%, due 7/1/21
|
1,981
|
ß
|
|
|
500
|
New York St. Dorm. Au. Rev. (North Shore-Long Island Jewish Oblig. Group), Ser. 2003,
5.00%, due 5/1/18
|
515
|
ß
|
|
|
2,000
|
New York St. Dorm. Au. Rev. (North Shore-Long Island Jewish Oblig. Group), Ser. 2011-A,
4.38%, due 5/1/26
|
2,013
|
ß
|
|
|
2,855
|
New York St. Dorm. Au. Rev. (Rivington House Hlth. Care Fac.), Ser. 2002, (SONYMA Insured),
5.25%, due 11/1/15
|
3,056
|
ß
|
|
|
2,410
|
New York St. Dorm. Au. Rev. (Rochester Institute of Technology Proj.), Ser. 2002-A, (AMBAC Insured),
5.25%, due 7/1/19 Pre-Refunded 7/1/12
|
2,489
|
ß
|
|
|
1,000
|
New York St. Dorm. Au. Rev. (Sch. Dist. Financing Proj.), Ser. 2002-A,
(National Public Finance Guarantee Corp. Insured), 5.75%, due 10/1/17
|
1,039
|
||
|
2,445
|
New York St. Dorm. Au. Rev. (SS Joachim & Anne Residence Proj.), Ser. 2002, (LOC: Allied Irish Bank),
4.60%, due 7/1/16
|
2,445
|
ß
|
|
|
500
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (Manhattan Marymount College), Ser. 2009,
5.00%, due 7/1/24
|
515
|
ß
|
|
|
900
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (Montefiore Med. Ctr.), Ser. 2008, (FHA Insured),
5.00%, due 8/1/21
|
977
|
ß
|
|
|
1,595
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), Ser. 2009,
5.25%, due 7/1/24
|
1,740
|
ß
|
|
|
1,000
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (NYU Hosp. Ctr.), Ser. 2006-A,
5.00%, due 7/1/20
|
1,053
|
ß
|
|
|
975
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (NYU Hosp. Ctr.), Ser. 2007-B,
5.25%, due 7/1/24
|
1,014
|
ß
|
|
|
2,000
|
New York St. Dorm. Au. Rev. Non St. Supported Debt (St. John's Univ.), Ser. 2007-C,
(National Public Finance Guarantee Corp. Insured), 5.25%, due 7/1/19
|
2,310
|
ß
|
|
|
2,600
|
New York St. Dorm. Au. Rev. St. Personal Income Tax Rev., Ser. 2003-A,
5.38%, due 3/15/17 Pre-Refunded 3/15/13
|
2,779
|
||
|
1,615
|
New York St. HFA Rev. (Affordable Hsg.), Ser. 2009-B, 4.50%, due 11/1/29
|
1,593
|
||
|
1,230
|
New York St. Muni. Bond Bank Agcy., Subser. 2009-B1, 5.00%, due 12/15/23
|
1,352
|
||
|
1,295
|
New York St. Muni. Bond Bank Agcy., Subser. 2009-B1, 5.00%, due 12/15/24
|
1,424
|
||
|
1,475
|
New York St. Thruway Au. Second Gen. Hwy. & Bridge Trust Fund Bonds, Ser. 2007-B,
5.00%, due 4/1/20
|
1,676
|
See Notes to Schedule of Investments
19
Schedule of Investments New York Intermediate Municipal Fund Inc. (cont'd)
|
PRINCIPAL AMOUNT
|
SECURITY
|
VALUE†
|
|||
|
(000's omitted)
|
(000's omitted)z
|
||||
|
$1,090
|
New York St. Thruway Au. Second Gen. Hwy. & Bridge Trust Fund Bonds, Ser. 2009-B,
5.00%, due 4/1/19
|
$
|
1,272
|
||
|
1,250
|
New York St. Urban Dev. Corp. Ref. Rev., Ser. 2008-D, 5.25%, due 1/1/20
|
1,442
|
|||
|
965
|
New York St. Urban Dev. Corp. Rev. (St. Personal Income Tax), Ser. 2008-A1, 5.00%, due 12/15/23
|
1,075
|
|||
|
1,375
|
New York Tobacco Settlement Fin. Corp., Ser. 2003-B1C, 5.50%, due 6/1/22
|
1,465
|
|||
|
1,715
|
Niagara Co. IDA Civic Fac. Rev. (Niagara Univ. Proj.), Ser. 2001-A, (Radian Insured), 5.50%, due 11/1/16
|
1,736
|
ß
|
||
|
1,000
|
Onondaga Co. Trust Cultural Res. Rev. (Syracuse Univ. Proj.), Ser. 2010-B, 5.00%, due 12/1/19
|
1,160
|
ß
|
||
|
3,000
|
Port Au. of NY & NJ Rev. Consolidated Bonds, Ser. 2002, (AMBAC Insured), 5.50%, due 12/15/12
|
3,122
|
|||
|
1,000
|
Saratoga Co. IDA Civic Fac. Rev. (Saratoga Hosp. Proj.), Ser. 2007-B, 5.00%, due 12/1/22
|
1,048
|
ß
|
||
|
1,675
|
Syracuse IDA Rev. (Syracuse Univ. Proj.), Ser. 2008-A2, (LOC: JP Morgan Chase), 0.12%, due 12/1/37
|
1,675
|
µß
|
||
|
1,570
|
Triborough Bridge & Tunnel Au. Oblig., Ser. 1998-A, (National Public Finance Guarantee Corp. Insured),
4.75%, due 1/1/24
|
1,574
|
|||
|
2,000
|
Triborough Bridge & Tunnel Au. Rev., Subser. 2008-D, 5.00%, due 11/15/23
|
2,228
|
|||
|
1,535
|
Ulster Co. Res. Rec. Agcy. Solid Waste Sys. Ref. Rev., Ser. 2002, (AMBAC Insured), 5.25%, due 3/1/16
|
1,597
|
|||
|
1,405
|
United Nations Dev. Corp. Rev., Ser. 2009-A, 5.00%, due 7/1/22
|
1,570
|
|||
|
1,000
|
Westchester Co. IDA Continuing Care Retirement Comm. Rev. (Kendal on Hudson Proj.), Ser. 2003-B,
6.50%, due 1/1/34 Putable 1/1/13
|
1,004
|
µß
|
||
|
101,089
|
|||||
|
Pennsylvania (2.3%)
|
|||||
|
2,000
|
Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2,
0.00%, due 12/1/34
|
1,665
|
b
|
||
|
Puerto Rico (7.6%)
|
|||||
|
1,500
|
Puerto Rico Commonwealth Gov't Dev. Bank, Ser. 1985,
(National Public Finance Guarantee Corp. Insured), 4.75%, due 12/1/15
|
1,554
|
|||
|
1,050
|
Puerto Rico Commonwealth Ref. G.O. (Pub. Imp.), Ser. 2001-A, (XLCA Insured), 5.50%, due 7/1/17
|
1,152
|
|||
|
750
|
Puerto Rico Elec. Pwr. Au. Pwr. Rev., Ser. 2010-XX, 5.25%, due 7/1/35
|
754
|
|||
|
1,060
|
Puerto Rico Ind. Tourist Ed. Med. & Env. Ctrl. Fac. Rev. (Polytechnic Univ. of Puerto Rico Proj.),
Ser. 2002-A, (ACA Insured), 5.25%, due 8/1/16
|
1,070
|
ß
|
||
|
1,000
|
Puerto Rico Sales Tax Fin. Corp. Sales Tax Rev., Subser. 2009-A, 5.00%, due 8/1/24
|
1,060
|
|||
|
5,590
|
|||||
|
Texas (2.3%)
|
|||||
|
1,750
|
Love Field Arpt. Modernization Corp. Spec. Fac. Rev. (Southwest Airlines Co. Proj.), Ser. 2010,
5.25%, due 11/1/40
|
1,665
|
ß
|
||
|
Total Investments (163.0%) (Cost $117,954)
|
119,220
|
##
|
|||
|
Cash, receivables and other assets, less liabilities (3.0%)
|
2,161
|
||||
|
Liquidation Value of Auction Market Preferred Shares [(66.0%)]
|
(48,250
|
)
|
|||
|
Total Net Assets Applicable to Common Shareholders (100.0%)
|
$
|
73,131
|
|||
See Notes to Schedule of Investments
20
Notes to Schedule of Investments
|
†
|
In accordance with Accounting Standards Codification ("ASC") 820 "Fair Value Measurements and Disclosures" ("ASC 820"), all investments held by each of Neuberger Berman California Intermediate Municipal Fund Inc. ("California"), Neuberger Berman Intermediate Municipal Fund Inc. ("Intermediate"), and Neuberger Berman New York Intermediate Municipal Fund Inc. ("New York") (each individually a "Fund" and collectively, the "Funds") are carried at the value that Neuberger Berman Management LLC ("Management") believes a fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment under current market conditions. Various inputs, including the volume and level of activity for the asset or liability in the market, are considered in valuing the Funds' investments, some of which are discussed below. Significant management judgment may be necessary to value investments in accordance with ASC 820.
|
ASC 820 established a three-tier hierarchy of inputs to create a classification of value measurements for disclosure purposes. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.
|
●
|
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, amortized cost, etc.)
|
|
|
●
|
Level 3 – significant unobservable inputs (including a Fund's own assumptions in determining the fair value of investments)
|
The inputs or methodology used for valuing an investment are not necessarily an indication of the risk associated with investing in those securities.
The value of the Funds' investments in municipal securities is determined by Management primarily by obtaining valuations from independent pricing services based on readily available bid quotations, or if quotations are not available, by methods which include various considerations such as yields or prices of securities of comparable quality, coupon, maturity and type; indications as to values from dealers; and general market conditions (generally Level 2 inputs). Other Level 2 inputs used by an independent pricing service to value municipal securities include current trades, bid-wanted lists (which informs the market that a holder is interested in selling a position and that offers will be considered), offerings, general information on market movement, direction, trends, and specific data on specialty issues.
Management has developed a process to periodically review information provided by independent pricing services for all types of securities.
If a valuation is not available from an independent pricing service, or if Management has reason to believe that the valuation received does not represent the amount a Fund might reasonably expect to receive on a current sale in an orderly transaction, the applicable Fund seeks to obtain quotations from principal market makers (generally considered Level 3 inputs). If such quotations are not readily available, the security is valued using methods the Fund's Board of Directors (each Fund's Board of Directors, a "Board") has approved on the belief that they reflect fair value. Numerous factors may be considered when determining the fair value of a security based on Level 2 or 3 inputs, including available analyst, media or other reports, trading in futures or ADRs and whether the issuer of the security being fair valued has other securities outstanding.
Fair value prices are necessarily estimates, and there is no assurance that such a price will be at or close to the price at which the security is next quoted or next trades.
See Notes to Financial Statements
21
Notes to Schedule of Investments (cont'd)
The following is a summary, categorized by Level, of inputs used to value the Funds' investments as of October 31, 2011:
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||||
|
Asset Valuation Inputs
(000's omitted)
|
|||||||||||||||||
|
California
|
|||||||||||||||||
|
Investments:
|
|||||||||||||||||
|
Municipal Notes^
|
$
|
—
|
$
|
137,982
|
$
|
—
|
$
|
137,982
|
|||||||||
|
Total Investments
|
—
|
137,982
|
—
|
137,982
|
|||||||||||||
|
Intermediate
|
|||||||||||||||||
|
Investments:
|
|||||||||||||||||
|
Municipal Notes^
|
—
|
450,257
|
—
|
450,257
|
|||||||||||||
|
Total Investments
|
—
|
450,257
|
—
|
450,257
|
|||||||||||||
|
New York
|
|||||||||||||||||
|
Investments:
|
|||||||||||||||||
|
Municipal Notes^
|
—
|
119,220
|
—
|
119,220
|
|||||||||||||
|
Total Investments
|
—
|
119,220
|
—
|
119,220
|
|||||||||||||
|
^
|
The Schedule of Investments provides information on the state categorization for the portfolio.
|
|
The Funds had no significant transfers between Levels 1 and 2 during the year ended October 31, 2011.
|
|
|
##
|
At October 31, 2011, selected fund information on a U.S. federal income tax basis was as follows:
|
|
(000's omitted)
|
Cost
|
Gross
Unrealized
Appreciation
|
Gross
Unrealized
Depreciation
|
Net
Unrealized
Appreciation
(Depreciation)
|
||||||||||||||||
|
California
|
$
|
134,921
|
$
|
4,119
|
$
|
1,058
|
$
|
3,061
|
||||||||||||
|
Intermediate
|
436,871
|
18,845
|
5,459
|
13,386
|
||||||||||||||||
|
New York
|
117,958
|
3,578
|
2,316
|
1,262
|
||||||||||||||||
|
ß
|
Security is guaranteed by the corporate or non-profit obligor.
|
|
µ
|
Floating rate securities are securities whose yields vary with a designated market index or market rate. These securities are shown at their current rates as of October 31, 2011 and at their final maturity dates.
|
|
b
|
Currently a zero coupon security; will convert to 6.00% on December 1, 2015.
|
|
c
|
Currently a zero coupon security; will convert to 6.50% on December 1, 2015.
|
|
d
|
Currently a zero coupon security; will convert to 5.50% on August 1, 2021.
|
|
e
|
Currently a zero coupon security; will convert to 6.38% on August 1, 2016.
|
|
f
|
Currently a zero coupon security; will convert to 6.38% on August 1, 2019.
|
|
g
|
Currently a zero coupon security; will convert to 6.13% on August 1, 2023.
|
|
h
|
Currently a zero coupon security; will convert to 6.75% on August 1, 2015.
|
See Notes to Financial Statements
22
Notes to Schedule of Investments (cont'd)
|
i
|
Currently a zero coupon security; will convert to 6.88% on August 1, 2019.
|
|
j
|
Currently a zero coupon security; will convert to 7.30% on August 1, 2026.
|
|
k
|
Security is subject to a guarantee provided by Bayerische Landesbank, backing 100% of the total principal.
|
|
z
|
A zero balance may reflect actual amounts rounding to less than $1,000.
|
|
‡
|
Security had an event of default.
|
|
#
|
Restricted security subject to restrictions on resale under federal securities laws. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers under Rule 144A under the Securities Act of 1933, as amended, and have been deemed by the investment manager to be illiquid. At October 31, 2011, these securities amounted to approximately $2,319,000 or 0.8% of net assets applicable to common shareholders for Intermediate and approximately $0 or 0.0% of net assets applicable to common shareholders for New York.
|
|
(000's omitted)
|
Restricted Security
|
Acquisition
Date
|
Acquisition
Cost
|
Acquisition
Cost
Percentage
of Net Assets
Applicable
to Common
Shareholders
as of
Acquisition
Date
|
Value as of
October 31, 2011
|
Fair Value
Percentage
of Net Assets
Applicable
to Common
Shareholders
as of
October 31, 2011
|
||||||||||
|
Intermediate
|
New York Liberty
Dev. Corp. Rev.
(Nat'l Sports
Museum Proj.),
Ser. 2006-A, 6.13%,
due 2/15/19
|
8/4/2006 | $ 1,100 | 0.4% | $ 0 | 0.0% | ||||||||||
|
Non-Profit Pfd.
Fdg. Trust I,
Ser. 2006-C, 4.72%,
due 9/15/37
|
10/2/2006
|
3,000
|
1.0
|
2,319
|
0.8
|
|||||||||||
|
New York
|
New York Liberty
Dev. Corp. Rev.
(Nat'l Sports
Museum Proj.),
Ser. 2006-A, 6.13%,
due 2/15/19
|
8/4/2006
|
660
|
0.9
|
0
|
0.0
|
||||||||||
See Notes to Financial Statements
23
Statements of Assets and Liabilities
Neuberger Berman
(000's omitted except per share amounts)
|
CALIFORNIA
INTERMEDIATE
MUNICIPAL FUND
|
INTERMEDIATE
MUNICIPAL FUND
|
NEW YORK
INTERMEDIATE
MUNICIPAL FUND
|
||||||||
|
October 31,
|
October 31,
|
October 31,
|
||||||||
|
2011
|
2011
|
2011
|
||||||||
|
Assets
|
||||||||||
|
Investments in securities, at value* (Note A)—
see Schedule of Investments:
|
||||||||||
|
Unaffiliated issuers
|
$
|
137,982
|
$
|
450,257
|
$
|
119,220
|
||||
|
Cash
|
2,594
|
207
|
466
|
|||||||
|
Interest receivable
|
1,917
|
7,124
|
1,826
|