Neuberger Berman
Intermediate Municipal
Closed-End Funds
Neuberger Berman California Intermediate
Municipal Fund Inc.
Neuberger Berman Intermediate
Municipal Fund Inc.
Neuberger Berman New York Intermediate
Municipal Fund Inc.
|
Annual Report
October 31, 2015
|
President’s Letter | 1 | |
PORTFOLIO COMMENTARIES | 2 | |
SCHEDULES OF INVESTMENTS | ||
California Intermediate Municipal Fund Inc. | 6 | |
Intermediate Municipal Fund Inc. | 10 | |
New York Intermediate Municipal Fund Inc. | 19 | |
FINANCIAL STATEMENTS | 29 | |
FINANCIAL HIGHLIGHTS/PER SHARE DATA | ||
California Intermediate Municipal Fund Inc. | 39 | |
Intermediate Municipal Fund Inc. | 40 | |
New York Intermediate Municipal Fund Inc. | 41 | |
Report of Independent Registered Public Accounting Firm | 43 | |
Distribution Reinvestment Plan for each Fund | 44 | |
Directory | 47 | |
Directors and Officers | 48 | |
Proxy Voting Policies and Procedures | 57 | |
Quarterly Portfolio Schedule | 57 | |
Notice to Stockholders | 58 | |
Report of Votes of Stockholders | 59 | |
Board Consideration of the Management and | ||
Sub-Advisory Agreements | 60 |
President’s Letter
Dear Stockholder,
I am pleased to present this annual report for the Neuberger Berman Intermediate Municipal Closed-End Funds for the 12 months ended October 31, 2015. 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 maintain a conservative investment philosophy and disciplined investment process in an effort to provide you with superior tax-exempt current income over the long term with less volatility and risk.
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.
Neuberger Berman Intermediate Municipal Closed-End Funds Portfolio Commentaries (Unaudited)
For the 12 months ended October 31, 2015, on a net asset value (NAV) basis, all three of the Neuberger Berman Intermediate Municipal Closed-End Funds posted positive returns and outperformed their benchmark, the Barclays 10-Year Municipal Bond Index. California Intermediate Municipal Fund, Intermediate Municipal Fund and New York Intermediate Municipal Fund posted 4.37%, 4.21% and 3.70% total returns for the period, respectively, whereas the benchmark generated a 3.19% return. (Fund performance on a market basis is provided in the table immediately following this letter.) The use of leverage (typically a performance enhancer in up markets and a detractor during market retreats) contributed to the performance of each Fund given the positive return delivered by the municipal market during the reporting period.
The municipal bond market posted a positive return and outperformed the overall taxable bond market during the reporting period. Fundamentals in the municipal market generally improved along with the U.S. economy. This, coupled with declining long-term interest rates, was supportive for the tax-free market. While new supply was robust during the period, it was generally well absorbed by investor demand.
Given the steepness of the municipal yield curve and our aim to generate incremental income, we maintained a long duration for each of the Funds. This benefited performance as interest rates generally declined during the reporting period. In terms of the Funds’ yield curve positioning, we maintained a barbell approach (investing in shorter and longer maturities). In contrast, the Funds’ benchmark is concentrated in the eight- to 12-year portion of the curve. Yield curve positioning detracted from results as the intermediate portion of the municipal curve outperformed its short- and longer-term counterparts.
The Funds maintained a lower quality relative to that of the benchmark in an attempt to generate additional yield. This was additive for results given the outperformance of lower quality bonds during the reporting period. From a sector perspective, overweights to hospitals and housing benefited results as these higher yielding sectors outperformed the benchmark.
A number of changes were made to the Funds during the reporting period. We allowed the Funds’ long durations to drift a bit shorter with the passage of time, in an effort to reduce interest rate risk. Given our quest to generate additional yield, we increased the Funds’ (with the exception of the California Intermediate Municipal Fund) allocation to securities rated BBB and lower. Finally, we increased the Funds’ allocations to the long end of the municipal yield curve and pared their exposure to the intermediate segment of the curve. This was done given our anticipation of a flattening of the municipal yield curve.
Looking ahead, we have a generally positive outlook for the municipal market. Fundamentally, we believe the U.S. economy will continue to expand with modest inflation. Moving forward, we see two major factors driving market performance. First, we believe the U.S. Federal Reserve is likely to pressure absolute returns as it moves off its zero-rate target. This could have an uneven impact on the yield curve, highlighting the potential benefits of active yield curve management. Second, we think the municipal market should benefit from what we think are still attractive valuations relative to taxable alternatives. This, in turn, could drive overall solid investor demand. At the same time, supply could moderate as municipalities have already aggressively taken advantage of low interest rates to refinance existing debt and lower borrowing costs. Finally, while we see an overall favorable environment for the municipal market, investment sentiment could be challenged at times by headlines surrounding the lingering effects of Puerto Rico’s debt restructuring and other one-off credit events.
Sincerely,
JAMES L. ISELIN AND S. BLAKE MILLER
PORTFOLIO CO-MANAGERS
The portfolio composition, industries and holdings of each Fund are subject to change.
The opinions expressed are those of the Funds’ portfolio managers. The opinions are as of the date of this report and are subject to change without notice.
The value of securities owned by the Funds, as well as the market value of shares of a Fund’s common stock, may decline in response to certain events, including those directly involving the issuers whose securities are owned by the Funds; conditions affecting the general economy; overall market changes; local, regional, national or global political, social or economic instability; regulatory or legislative developments; price and interest rate fluctuations, including those resulting from changes in central bank policies; and changes in investor sentiment.
TICKER SYMBOLS | ||
California Intermediate Municipal Fund Inc. | NBW | |
Intermediate Municipal Fund Inc. | NBH | |
New York Intermediate Municipal Fund Inc. | NBO |
CALIFORNIA INTERMEDIATE MUNICIPAL FUND INC. PORTFOLIO BY STATE AND TERRITORY |
|||
(as a % of Total Investments*) | |||
American Samoa | 0.4 | % | |
California | 83.9 | ||
Florida | 0.4 | ||
Georgia | 0.4 | ||
Guam | 1.6 | ||
Illinois | 1.5 | ||
Louisiana | 0.4 | ||
Nevada | 0.8 | ||
New Jersey | 0.6 | ||
North Carolina | 0.6 | ||
Pennsylvania | 1.6 | ||
Puerto Rico | 6.8 | ||
Tennessee | 0.4 | ||
Virgin Islands | 0.6 | ||
Total | 100.0 | % |
* Derivatives, if any, are excluded from this chart.
NEW YORK INTERMEDIATE MUNICIPAL FUND INC. PORTFOLIO BY STATE AND TERRITORY |
|||
(as a % of Total Investments*) | |||
American Samoa | 0.4 | % | |
California | 3.4 | ||
Georgia | 0.4 | ||
Guam | 2.0 | ||
Illinois | 1.7 | ||
Louisiana | 0.5 | ||
Nevada | 0.9 | ||
New York | 85.1 | ||
Ohio | 0.4 | ||
Pennsylvania | 1.9 | ||
Puerto Rico | 2.6 | ||
Virgin Islands | 0.7 | ||
Total | 100.0 | % |
* Derivatives, if any, are excluded from this chart.
PERFORMANCE HIGHLIGHTS1
Average Annual Total Return | ||||||||||||||
Inception | Ended 10/31/2015 | |||||||||||||
At NAV2 | Date | 1 Year | 5 Years | 10 Years | Life of Fund | |||||||||
California Intermediate Municipal Fund Inc. |
09/24/2002 | 4.37 | % | 5.72 | % | 5.95 | % | 6.03 | % | |||||
Intermediate Municipal Fund Inc. |
09/24/2002 | 4.21 | % | 7.07 | % | 6.46 | % | 6.48 | % | |||||
New York Intermediate Municipal Fund Inc. |
09/24/2002 | 3.70 | % | 4.83 | % | 5.39 | % | 5.53 | % | |||||
At Market Price3 | ||||||||||||||
California Intermediate Municipal Fund Inc. |
09/24/2002 | 4.16 | % | 6.69 | % | 6.64 | % | 5.66 | % | |||||
Intermediate Municipal Fund Inc. |
09/24/2002 | 6.74 | % | 6.86 | % | 7.04 | % | 5.94 | % | |||||
New York Intermediate Municipal Fund Inc. |
09/24/2002 | 2.76 | % | 3.91 | % | 5.69 | % | 4.86 | % | |||||
Index | ||||||||||||||
Barclays 10 Year Municipal Bond Index4 |
3.19 | % | 4.61 | % | 5.24 | % | 4.81 | % |
Closed-end funds, unlike open-end funds, are not continually offered. Generally, there is an initial public offering and, once issued, shares of common stock of closed-end funds are sold in the secondary market on a stock exchange.
The performance data quoted represent past performance and do not indicate future results. Current performance may be lower or higher than the performance data quoted. For more current performance data, please visit www.nb.com/cef-performance.
The results shown in the table reflect the reinvestment of income dividends and other distributions, if any. The results do not reflect the effect of taxes a stockholder would pay on Fund distributions or on the sale of shares of a Fund’s common stock.
The investment return and market price will fluctuate and shares of a Fund’s common stock may trade at prices above or below NAV. Shares of a Fund’s common stock, when sold, may be worth more or less than their original cost.
Returns would have been lower if Neuberger Berman Management LLC (Management) had not waived a portion of its investment management fees during certain of the periods shown. Please see the Notes to Financial Highlights for additional information regarding fee waivers.
INTERMEDIATE MUNICIPAL FUND INC. PORTFOLIO BY STATE AND TERRITORY
(as a % of Total Investments*) | ||||||||
Alabama | 0.4 | % | Nevada | 1.6 | % | |||
American Samoa | 0.4 | New Hampshire | 0.3 | |||||
Arizona | 3.9 | New Jersey | 3.5 | |||||
California | 18.9 | New Mexico | 0.3 | |||||
Colorado | 2.3 | New York | 8.0 | |||||
Connecticut | 0.2 | North Carolina | 2.4 | |||||
District of Columbia | 1.9 | Ohio | 0.9 | |||||
Florida | 3.2 | Oklahoma | 0.2 | |||||
Georgia | 0.2 | Oregon | 0.1 | |||||
Guam | 1.1 | Pennsylvania | 5.6 | |||||
Hawaii | 1.7 | Puerto Rico | 0.4 | |||||
Illinois | 11.2 | Rhode Island | 0.9 | |||||
Indiana | 3.2 | Tennessee | 1.2 | |||||
Iowa | 1.9 | Texas | 4.2 | |||||
Kentucky | 0.0 | Utah | 1.3 | |||||
Louisiana | 0.9 | Vermont | 2.0 | |||||
Maine | 0.5 | Virginia | 0.4 | |||||
Maryland | 0.5 | Washington | 2.4 | |||||
Massachusetts | 4.4 | West Virginia | 0.2 | |||||
Michigan | 1.0 | Wisconsin | 3.2 | |||||
Minnesota | 1.0 | Tax Exempt Preferred | 0.4 | |||||
Mississippi | 0.9 | Total | 100.0 | % | ||||
Missouri | 0.8 |
* Derivatives, if any, are excluded from this chart.
Endnotes
1 | A portion of each Fund’s income may be a tax preference item for purposes of the federal alternative minimum tax for certain stockholders. |
2 | Returns based on the NAV of each Fund. |
3 | Returns based on the market price of shares of each Fund’s common stock on the NYSE MKT. |
4 | Please see “Description of Index” on page 5 for a description of the index. |
For more complete information on any of the Neuberger Berman Intermediate Municipal Closed-End Funds, call Neuberger Berman Management LLC* at (800) 877-9700, or visit our website at www.nb.com.
* | Please note, as explained further in Note E to the Financial Statements, following a consolidation of certain Neuberger Berman entities, including Neuberger Berman Management LLC, that is anticipated to occur on or about January 1, 2016, the name of the investment manager to the Fund will be Neuberger Berman Investment Advisers LLC. |
Description of Index
Barclays 10-Year Municipal Bond Index: |
The index is the 10-year (8-12 years to maturity) component of the Barclays Municipal Bond Index. The Barclays Municipal Bond Index measures the investment grade, U.S. dollar-denominated, long-term, tax-exempt bond market and has four main sectors: state and local general obligation bonds, revenue bonds, insured bonds and prerefunded bonds. |
Please note that the index does not take into account any fees and expenses or any tax consequences of investing in 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 other distributions, if any. The Funds may invest in securities not included in the above described index and generally do not invest in all securities included in the index.
Schedule of Investments California Intermediate Municipal Fund Inc.
10/31/15
PRINCIPAL
AMOUNT
(000’s omitted) |
VALUE† (000’s omitted)Z |
||||||||
Municipal Notes (167.6%) | |||||||||
American Samoa (0.7%) | |||||||||
$600 | American Samoa Econ. Dev. Au. Gen. Rev. Ref., Ser. 2015-A, 6.25%, due 9/1/29 | $601 | |||||||
California (140.6%) | |||||||||
1,000 | Bay Area Toll Au. Toll Bridge Rev., Ser. 2013-S-4, 5.00%, due 4/1/27 | 1,162 | |||||||
1,500 | Bay Area Toll Au. Toll Bridge Rev. (San Francisco Bay Area), Ser. 2012, 5.00%, due 4/1/21 | 1,789 | |||||||
500 | California Ed. Fac. Au. Rev. (Scripps College), Ser. 2007, (National Public Finance Guarantee Corp. | 500 | ß | ||||||
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 | |||||||
1,000 | California HFA Home Mtge. Rev., Ser. 2006-E, (FGIC Insured), 4.95%, due 8/1/26 | 1,008 | |||||||
130 | California HFA Home Mtge. Rev., Ser. 2007-E, 5.00%, due 2/1/42 | 133 | |||||||
1,500 | California Hlth. Facs. Fin. Au. Rev. (Cedars-Sinai Med. Ctr.), Ser. 2005, 5.00%, due 11/15/21 | 1,507 | ß | ||||||
1,000 | California Hlth. Facs. Fin. Au. Rev. (Children’s Hosp. Los Angeles), Ser. 2012-A, 5.00%, due 11/15/26 | 1,111 | ß | ||||||
1,000 | California Infrastructure & Econ. Dev. Bank St. Sch. Fund Lease Rev. (King City Joint Union High Sch. | 1,147 | |||||||
Dist. Fin.), Ser. 2010, 5.13%, due 8/15/24 | |||||||||
1,000 | California Muni. Fin. Au. Charter Sch. Lease Rev. (Sycamore Academy Proj.), Ser. 2014, | 994 | #ß | ||||||
5.63%, due 7/1/44 | |||||||||
500 | California Muni. Fin. Au. Charter Sch. Lease Rev. (Vista Charter Middle Sch. Proj.), Ser. 2014, | 490 | Ñß | ||||||
5.13%, due 7/1/29 | |||||||||
255 | California Muni. Fin. Au. Charter Sch. Rev. (John Adams Academics Proj.), Ser. 2015-A, | 257 | ß | ||||||
4.50%, due 10/1/25 | |||||||||
100 | California Muni. Fin. Au. Ed. Rev. (American Heritage Ed. Foundation Proj.), Ser. 2006-A, | 101 | ß | ||||||
5.00%, due 6/1/16 | |||||||||
500 | California Muni. Fin. Au. Rev. (Baptist Univ.), Ser. 2015-A, 5.00%, due 11/1/30 | 502 | ñß | ||||||
375 | California Muni. Fin. Au. Rev. (Biola Univ.), Ser. 2013, 4.00%, due 10/1/25 | 398 | ß | ||||||
410 | California Muni. Fin. Au. Rev. (Biola Univ.), Ser. 2013, 4.00%, due 10/1/26 | 429 | ß | ||||||
455 | California Muni. Fin. Au. Rev. (Biola Univ.), Ser. 2013, 4.00%, due 10/1/27 | 471 | ß | ||||||
1,040 | California Muni. Fin. Au. Rev. (Loma Linda Univ.), Ser. 2007, 5.00%, due 4/1/21 | 1,101 | ß | ||||||
600 | California Muni. Fin. Au. Rev. (Southwestern Law Sch.), Ser. 2011, 6.00%, due 11/1/26 | 692 | ß | ||||||
605 | California Muni. Fin. Au. Rev. (Touro College & Univ. Sys. Obligated Group), Ser. 2014-A, | 628 | ß | ||||||
4.00%, due 1/1/27 | |||||||||
630 | California Muni. Fin. Au. Rev. (Touro College & Univ. Sys. Obligated Group), Ser. 2014-A, | 651 | ß | ||||||
4.00%, due 1/1/28 | |||||||||
330 | California Muni. Fin. Au. Rev. (Touro College & Univ. Sys. Obligated Group), Ser. 2014-A, | 336 | ß | ||||||
4.00%, due 1/1/29 | |||||||||
100 | California Poll. Ctrl. Fin. Au. Ref. PCR (Pacific Gas & Elec. Co.), Ser. 1996-C, (LOC: JP Morgan Chase), | 100 | µß | ||||||
0.01%, due 11/1/26 | |||||||||
400 | California Sch. Fac. Fin. Au. Rev. (Alliance College - Ready Pub. Sch. Proj.), Ser. 2015-A, | 424 | ñß | ||||||
5.00%, due 7/1/30 | |||||||||
450 | California Sch. Fac. Fin. Au. Rev. (KIPP LA Proj.), Ser. 2014-A, 4.13%, due 7/1/24 | 472 | ß | ||||||
555 | California St. Dept. of Wtr. Res. Ctr. Valley Proj. Rev. (Wtr. Sys.), Ser. 2012-AN, 5.00%, due 12/1/21 | 670 | |||||||
1,240 | California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser. 2010-L, 5.00%, due 5/1/22 | 1,458 | |||||||
Pre-Refunded 5/1/20 | |||||||||
760 | California St. Dept. of Wtr. Res. Pwr. Supply Rev., Ser. 2010-L, 5.00%, due 5/1/22 | 878 | |||||||
20 | California St. G.O., Ser. 2002, 5.00%, due 10/1/17 | 20 | |||||||
1,500 | California St. G.O., Ser. 2012, 5.00%, due 2/1/27 | 1,748 | |||||||
2,000 | California St. Poll. Ctrl. Fin. Au. Wtr. Furnishing Rev., Ser. 2012, 5.00%, due 7/1/27 | 2,204 | ñß | ||||||
1,095 | California St. Pub. Works Board Lease Rev. (California Comm. Colleges), Ser. 2004-B, | 1,099 | |||||||
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, | 1,004 | |||||||
(AMBAC Insured), 5.25%, due 12/1/16 | |||||||||
600 | California St. Sch. Fin. Au. Ed. Facs. Rev. (Partnerships Uplifts Comm. Valley Proj.), Ser. 2014-A, | 667 | ß | ||||||
5.35%, due 8/1/24 | |||||||||
1,000 | California St. Var. Purp. G.O., Ser. 2012, 4.00%, due 9/1/21 | 1,139 | |||||||
120 | California Statewide CDA Cert. of Participation Rev. (The Internext Group), Ser. 1999, | 120 | ß | ||||||
5.38%, due 4/1/17 | |||||||||
870 | California Statewide CDA Rev. (California Baptist Univ.), Ser. 2007-A, 5.30%, due 11/1/18 | 908 | ß |
See Notes to Schedule of Investments
Schedule of Investments California Intermediate Municipal Fund Inc.
(cont’d)
PRINCIPAL AMOUNT (000’s omitted) |
VALUE† (000’s omitted)Z |
||||||||
$720 | California Statewide CDA Rev. (Henry Mayo Newhall Mem. Hosp.), Ser. 2014-A, (AGM Insured), | $834 | ß | ||||||
5.00%, due 10/1/26 | |||||||||
415 | California Statewide CDA Rev. (Lancer Ed. Std. Hsg. Proj.), Ser. 2007, 5.40%, due 6/1/17 | 427 | ß | ||||||
700 | California Statewide CDA Rev. (Redwoods Proj.), Ser. 2013, 5.00%, due 11/15/28 | 813 | ß | ||||||
1,255 | California Statewide CDA Rev. (Sr. Living So. California Presbyterian Homes), Ser. 2009, | 1,357 | ñß | ||||||
6.25%, due 11/15/19 | |||||||||
1,500 | California Statewide CDA Rev. (St. Joseph Hlth. Sys.), Ser. 2000, (National Public Finance Guarantee | 1,662 | ß | ||||||
Corp. Insured), 5.13%, due 7/1/24 | |||||||||
130 | California Statewide CDA Rev. (Valley Care Hlth. Sys.), Ser. 2007-A, 4.80%, due 7/15/17 | 136 | ß | ||||||
1,500 | California Statewide CDA Rev. Ref. (Loma Linda Univ. Med. Ctr.), Ser. 2014-A, 5.25%, due 12/1/29 | 1,630 | ß | ||||||
1,200 | California Statewide CDA Spec. Tax Rev. Ref. (Comm. Facs. Dist. #2007-01 Orinda Wilder Proj.), | 1,264 | |||||||
Ser. 2015, 4.50%, due 9/1/25 | |||||||||
350 | Corona Norco Unified Sch. Dist. Pub. Fin. Au. Sr. Lien Rev., Ser. 2013-A, 5.00%, due 9/1/26 | 392 | |||||||
560 | Corona Norco Unified Sch. Dist. Pub. Fin. Au. Sr. Lien Rev., Ser. 2013-A, 5.00%, due 9/1/27 | 623 | |||||||
1,365 | Daly City Hsg. Dev. Fin. Agcy. Rev. Ref. (Franciscan Mobile Home Park), Ser. 2007-A, | 1,466 | ß | ||||||
5.00%, due 12/15/21 | |||||||||
2,000 | Davis Joint Unified Sch. Dist. Cert. of Participation (Yolo Co.), Ser. 2014, (BAM Insured), | 2,259 | |||||||
4.00%, due 8/1/24 | |||||||||
1,250 | Emeryville Redev. Agcy. Successor Agcy. Tax Allocation Ref. Rev., Ser. 2014-A, (AGM Insured), 5.00%, | 1,504 | |||||||
due 9/1/25 | |||||||||
1,000 | Fresno Unified Sch. Dist. Ref. G.O., Ser. 2002-A, (National Public Finance Guarantee Corp. Insured), | 1,067 | |||||||
6.00%, due 2/1/17 | |||||||||
2,000 | Glendale Redev. Agcy. Tax Allocation Rev. (Central Glendale Redev. Proj.), Ser. 2010, | 2,074 | |||||||
5.50%, due 12/1/24 | |||||||||
1,000 | Imperial Comm. College Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, (AGM Insured), | 1,218 | |||||||
6.75%, due 8/1/40 | |||||||||
1,000 | Inglewood Pub. Fin. Au. Ref. Rev., Ser. 2012, 5.00%, due 8/1/18 | 1,094 | |||||||
1,000 | Inglewood Unified Sch. Dist. Facs. Fin. Au. Rev., Ser. 2007, (AGM Insured), 5.25%, due 10/15/26 | 1,188 | |||||||
150 | Irvine Spec. Tax (Comm. Facs. Dist. Number 2005-2), Ser. 2013, 4.00%, due 9/1/23 | 162 | |||||||
300 | Irvine Spec. Tax (Comm. Facs. Dist. Number 2005-2), Ser. 2013, 4.00%, due 9/1/24 | 321 | |||||||
450 | Irvine Spec. Tax (Comm. Facs. Dist. Number 2005-2), Ser. 2013, 4.00%, due 9/1/25 | 478 | |||||||
645 | Irvine Spec. Tax (Comm. Facs. Dist. Number 2005-2), Ser. 2013, 3.50%, due 9/1/26 | 657 | |||||||
690 | Irvine Spec. Tax (Comm. Facs. Dist. Number 2005-2), Ser. 2013, 3.63%, due 9/1/27 | 703 | |||||||
2,100 | Irvine Unified Sch. Dist. Spec. Tax (Comm. Facs. Dist. Number 9), Ser. 2014-A, (LOC: U.S Bank), | 2,100 | µ | ||||||
0.01%, due 9/1/53 | |||||||||
680 | Jurupa Pub. Fin. Auth. Spec. Tax Rev., Ser. 2014-A, 5.00%, due 9/1/24 | 812 | |||||||
315 | La Verne Cert. of Participation (Brethren Hillcrest Homes), Ser. 2014, 5.00%, due 5/15/26 | 342 | ß | ||||||
500 | La Verne Cert. of Participation (Brethren Hillcrest Homes), Ser. 2014, 5.00%, due 5/15/29 | 534 | ß | ||||||
1,105 | Lodi Pub. Fin. Au. Lease Rev., Ser. 2012, 5.25%, due 10/1/26 | 1,280 | |||||||
495 | Long Beach Fin. Au. Rev., Ser. 1992, (AMBAC Insured), 6.00%, due 11/1/17 | 508 | |||||||
3,900 | Los Angeles Co. Metro. Trans. Au. Sales Tax Prop. A First Tier Sr. Rev., Ser. 2012-A, | 4,673 | |||||||
5.00%, due 7/1/21 | |||||||||
2,000 | Los Angeles Muni. Imp. Corp. Lease Ref. Rev. (Real Property), Ser. 2012-C, 5.00%, due 3/1/27 | 2,277 | |||||||
500 | Los Angeles Reg. Arpt. Imp. Corp. Lease Rev. (Laxfuel Corp.), Ser. 2012, 4.50%, due 1/1/27 | 531 | ß | ||||||
850 | Mill Valley Sch. Dist. G.O. Cap. Appreciation, Ser. 1994-A, 0.00%, due 8/1/19 | 752 | |||||||
1,000 | Mountain House Pub. Fin. Au. Utils. Sys. Rev., Ser. 2007, 5.00%, due 12/1/22 | 1,086 | |||||||
1,385 | Ohlone Comm. College Dist. G.O. (Election 2010), Ser. 2014-B, 0.00%, due 8/1/29 | 783 | |||||||
1,490 | Oxnard Harbor Dist. Rev., Ser. 2011-B, 4.50%, due 8/1/24 | 1,629 | |||||||
1,500 | Pico Rivera Pub. Fin. Au. Lease Rev., Ser. 2009, 4.75%, due 9/1/25 | 1,670 | |||||||
1,000 | Rancho Cucamonga Redev. Agcy. Successor Agcy. Tax Allocation Rev. (Rancho Redev. Proj.), | 1,181 | |||||||
Ser. 2014, (AGM Insured), 5.00%, due 9/1/27 | |||||||||
460 | Riverside Co. Comm. Facs. Dist. Spec. Tax Rev. (Scott Road), Ser. 2013, 4.00%, due 9/1/21 | 457 | |||||||
600 | Riverside Co. Comm. Facs. Dist. Spec. Tax Rev. (Scott Road), Ser. 2013, 5.00%, due 9/1/25 | 632 | |||||||
1,320 | Riverside Co. Trans. Commission Toll Rev. Sr. Lien (Cap. Appreciation), Ser. 2013-B, | 1,029 | |||||||
0.00%, due 6/1/22 | |||||||||
1,500 | Riverside Co. Trans. Commission Toll Rev. Sr. Lien (Cap. Appreciation), Ser. 2013-B, | 1,114 | |||||||
0.00%, due 6/1/23 | |||||||||
360 | Roseville Stone Point Comm. Fac. Dist. Number 1 Special Tax Rev., Ser. 2003, 5.70%, due 9/1/17 | 361 | |||||||
1,000 | Sacramento City Fin. Au. Ref. Rev. (Master Lease Prog. Facs.), Ser. 2006-E, (AMBAC Insured), | 1,237 | |||||||
5.25%, due 12/1/24 |
See Notes to Schedule of Investments
Schedule of Investments California Intermediate Municipal Fund Inc.
(cont’d)
PRINCIPAL AMOUNT (000’s omitted) |
VALUE† (000’s omitted)Z |
||||||||
$400 | Sacramento City Fin. Au. Ref. Rev. (Master Lease Prog. Facs.), Ser. 2006-E, (AMBAC Insured), 5.25%, | $494 | |||||||
due 12/1/26 | |||||||||
2,600 | Sacramento Muni. Utils. Dist. Elec. Rev., Ser. 1997-K, (AMBAC Insured), 5.70%, due 7/1/17 | 2,824 | |||||||
1,350 | San Bernardino Comm. College Dist. G.O. (Election 2002), Ser. 2008-A, 6.25%, due 8/1/24 | 1,552 | |||||||
Pre-Refunded 8/1/18 | |||||||||
400 | San Diego Pub. Facs. Fin. Au. Lease Rev. (Ballpark), Ser. 2007-A, (AMBAC Insured), | 423 | |||||||
5.25%, due 2/15/19 | |||||||||
820 | San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 4.90%, due 9/1/16 | 823 | |||||||
750 | San Francisco City & Co. Arpts. Commission Int’l Ref. Rev., Ser. 2009-D2, 3.00%, due 5/1/21 | 808 | |||||||
1,000 | San Francisco City & Co. Arpts. Commission Int’l Ref. Rev., Ser. 2009-C2, 5.00%, due 5/1/21 | 1,139 | |||||||
2,115 | San Francisco City & Co. Redev. Fin. Au. Tax Allocation (San Francisco Redev. Proj.), Ser. 2003-B, | 2,117 | |||||||
(National Public Finance Guarantee Corp. Insured), 5.25%, due 8/1/18 | |||||||||
2,000 | San Francisco City & Co. Unified Sch. Dist. Ref. Rev., Ser. 2012, 4.00%, due 6/15/25 | 2,187 | |||||||
700 | San Jose Multi-Family Hsg. Rev. (Fallen Leaves Apts. Proj.), Ser. 2002-J1, (AMBAC Insured), | 702 | ß | ||||||
4.95%, due 12/1/22 | |||||||||
1,060 | San Jose Redev. Agcy. Tax Allocation Ref. (Merged Area Redev. Proj.), Ser. 2006-D, (AMBAC Insured), | 1,122 | |||||||
5.00%, due 8/1/21 | |||||||||
1,000 | San Juan Unified Sch. Dist. G.O., Ser. 2012-C, 4.00%, due 8/1/22 | 1,132 | |||||||
1,070 | San Juan Unified Sch. Dist. G.O., Ser. 2012-C, 4.00%, due 8/1/25 | 1,168 | |||||||
1,000 | San Mateo Union High Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, | 692 | |||||||
0.00%, due 9/1/25 | |||||||||
1,000 | San Rafael City High Sch. Dist. G.O. Cap. Appreciation (Election 2002), Ser. 2004-B, (National Public | 971 | |||||||
Finance Guarantee Corp. Insured), 0.00%, due 8/1/18 | |||||||||
1,390 | San Rafael Redev. Agcy. Tax Allocation Ref. (Central San Rafael Redev. Proj.), Ser. 2009, (Assured | 1,605 | |||||||
Guaranty Insured), 5.00%, due 12/1/21 | |||||||||
310 | Santa Maria Bonita Sch. Dist. Cert. of Participation (New Sch. Construction Proj.), Ser. 2013, (BAM | 319 | |||||||
Insured), 3.25%, due 6/1/25 | |||||||||
575 | Santa Maria Bonita Sch. Dist. Cert. of Participation (New Sch. Construction Proj.), Ser. 2013, (BAM | 588 | |||||||
Insured), 3.50%, due 6/1/26 | |||||||||
325 | Santa Maria Bonita Sch. Dist. Cert. of Participation (New Sch. Construction Proj.), Ser. 2013, (BAM | 330 | |||||||
Insured), 3.50%, due 6/1/27 | |||||||||
270 | Santa Maria Bonita Sch. Dist. Cert. of Participation (New Sch. Construction Proj.), Ser. 2013, (BAM | 273 | |||||||
Insured), 3.50%, due 6/1/28 | |||||||||
1,000 | Santa Monica-Malibu Unified Sch. Dist. Ref. G.O., Ser. 2013, 3.00%, due 8/1/27 | 1,002 | |||||||
1,000 | Successor Agcy. to the Monrovia Redev. Agcy. Tax Allocation Rev. (Cent. Redev. Proj.), | 1,077 | |||||||
Ser. 2013, 5.00%, due 8/1/26 | |||||||||
1,500 | Sulphur Springs Union Sch. Dist. Cert. of Participation (Cap. Appreciation), Ser. 2010, (AGM Insured), | 1,813 | c | ||||||
0.00%, due 12/1/37 | |||||||||
2,000 | Sweetwater Union High Sch. Dist. Pub. Fin. Au. Rev., Ser. 2013, (BAM Insured), 5.00%, due 9/1/25 | 2,366 | |||||||
2,000 | Twin Rivers Unified Sch. Dist. Cert. of Participation (Sch. Fac. Bridge Funding Prog.), | 2,004 | µ | ||||||
Ser. 2007, (AGM Insured), 3.20%, due 6/1/27 Putable 6/1/20 | |||||||||
615 | Vernon Elec. Sys. Rev., Ser. 2009-A, 5.13%, due 8/1/21 Pre-Refunded 8/1/19 | 679 | |||||||
1,385 | Vernon Elec. Sys. Rev., Ser. 2009-A, 5.13%, due 8/1/21 | 1,527 | |||||||
3,000 | Victor Valley Comm. College Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2009-C, | 3,220 | i | ||||||
0.00%, due 8/1/37 | |||||||||
1,500 | Vista Unified Sch. Dist. G.O., Ser. 2012, 5.00%, due 8/1/21 | 1,791 | |||||||
3,500 | William S.Hart Union High Sch. Dist. G.O. Cap. Appreciation (Election 2001), Ser. 2005-B, | 2,432 | |||||||
(AGM Insured), 0.00%, due 9/1/26 | |||||||||
2,250 | Wiseburn Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-B, (AGM Insured), | 1,724 | j | ||||||
0.00%, due 8/1/36 | |||||||||
119,552 | |||||||||
Florida (0.7%) | |||||||||
525 | Lakeland Ed. Facs. Rev. (Florida So. College Proj.), Ser. 2012-A, 5.00%, due 9/1/24 | 584 | ß | ||||||
Georgia (0.7%) | |||||||||
600 | Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25 | 601 | #ß |
See Notes to Schedule of Investments
Schedule of Investments California Intermediate Municipal Fund Inc.
(cont’d)
PRINCIPAL |
VALUE† |
||||||||
Guam (2.7%) | |||||||||
$1,110 | Guam Gov’t Hotel Occupancy Tax Rev., Ser. 2011-A, 5.25%, due 11/1/18 | $1,230 | |||||||
1,000 | Guam Gov’t Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25 | 1,103 | |||||||
2,333 | |||||||||
Illinois (2.5%) | |||||||||
315 | Bartlett Sr. Lien Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17 | 319 | |||||||
1,000 | Chicago Ref. G.O., Ser. 2003-B, 5.00%, due 1/1/23 | 1,013 | |||||||
750 | Illinois St. G.O., Ser. 2013, 5.00%, due 7/1/23 | 820 | |||||||
2,152 | |||||||||
Louisiana (0.7%) | |||||||||
500 | Louisiana Pub. Facs. Au. Rev. (Southwest Louisiana Charter Academy Foundation Proj.), Ser. 2013-A, 7.63%, due 12/15/28 |
567 | ß | ||||||
Nevada (1.3%) | |||||||||
1,000 | Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23 | 1,124 | |||||||
New Jersey (1.0%) | |||||||||
750 | New Jersey St. Econ. Dev. Au. Rev. (Continental Airlines, Inc., Proj.), Ser. 1999, 5.13%, due 9/15/23 | 819 | ß | ||||||
North Carolina (0.9%) | |||||||||
750 | North Carolina Med. Care Commission Hlth. Care Fac. First Mtge. Rev. (Lutheran Svcs. for Aging, Inc.), Ser. 2012-A, 4.25%, due 3/1/24 |
777 | ß | ||||||
Pennsylvania (2.6%) | |||||||||
2,000 | Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2, 0.00%, due 12/1/34 |
2,210 | b | ||||||
Puerto Rico (11.5%) | |||||||||
2,000 | Puerto Rico Commonwealth Ref. G.O. (Pub. Imp.), Ser. 2001-A, (National Public Finance Guarantee Corp. Insured), 5.50%, due 7/1/20 |
2,044 | |||||||
3,300 | Puerto Rico Ind., Tourist Ed. Med. & Env. Ctrl. Fac. Rev. (Bristol-Myers Squibb Proj.), Ser. 2000, 0.47%, due 12/1/30 |
3,300 | µß | ||||||
400 | Puerto Rico Ind., Tourist Ed. Med. & Env. Ctrl. Fac. Rev. (Int’l American Univ. Proj.), Ser. 2012, 5.00%, due 10/1/21 |
397 | ß | ||||||
3,000 | Puerto Rico Muni. Fin. Agcy. Rev., Ser. 2002-A, (AGM Insured), 5.25%, due 8/1/17 | 3,005 | |||||||
1,000 | Puerto Rico Muni. Fin. Agcy. Rev., Ser. 2002-A, (AGM Insured), 5.25%, due 8/1/21 | 1,002 | |||||||
9,748 | |||||||||
Tennessee (0.7%) | |||||||||
500 | Tennessee St. Energy Acquisition Corp. Gas Rev. (Goldman Sachs Group, Inc.), Ser. 2006-A, 5.25%, due 9/1/23 |
592 | |||||||
Virgin Islands (1.0%) | |||||||||
250 | Virgin Islands Pub. Fin. Au. Rev., Ser. 2014-A, 5.00%, due 10/1/24 | 276 | |||||||
500 | Virgin Islands Pub. Fin. Au. Rev., Ser. 2014-A, 5.00%, due 10/1/29 | 541 | |||||||
817 | |||||||||
Total Investments (167.6%) (Cost $133,412) | 142,477 | ## | |||||||
Cash, receivables and other assets, less liabilities (1.8%) | 1,523 | ||||||||
Liquidation Value of Variable Rate Municipal Term Preferred Shares [(69.4%)] | (59,000 | ) | |||||||
Total Net Assets Applicable to Common Stockholders (100.0%) | $85,000 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. 10/31/15
PRINCIPAL |
VALUE† |
||||||||
Municipal Notes (157.8%) | |||||||||
Alabama (0.7%) | |||||||||
$1,900 | Selma IDB Rev. (Int’l Paper Co. Proj.), Ser. 2011-A, 5.38%, due 12/1/35 | $2,114 | ß | ||||||
American Samoa (0.6%) | |||||||||
1,700 | American Samoa Econ. Dev. Au. Gen. Rev. Ref., Ser. 2015-A, 6.25%, due 9/1/29 | 1,702 | |||||||
Arizona (6.1%) | |||||||||
5,000 | Arizona Sch. Fac. Board Cert. of Participation, Ser. 2008, (Assured Guaranty Insured), 5.13%, due 9/1/21 Pre-Refunded 9/1/18 |
5,606 | |||||||
5,870 | Mohave Co. Ind. Dev. Au. Correctional Fac. Contract Rev. (Mohave Prison LLC Expansion Proj.), Ser. 2008, 7.50%, due 5/1/19 |
6,214 | ß | ||||||
3,500 | Phoenix Ind. Dev. Au. Ed. Rev. (Great Hearts Academies Proj.), Ser. 2014, 3.75%, due 7/1/24 | 3,487 | ñß | ||||||
1,500 | Phoenix Ind. Dev. Au. Solid Waste Disp. Rev. (Vieste Spec. LLC), Ser. 2013-A, 4.38%, due 4/1/28 | 675 | ß | ||||||
400 | Phoenix-Mesa Gateway Arpt. Au. Spec. Fac. Rev. (Mesa Proj.), Ser. 2012, 5.00%, due 7/1/24 | 457 | ‡ | ||||||
1,745 | Verrado Comm. Fac. Dist. Number 1 G.O., Ser. 2006, 5.05%, due 7/15/18 | 1,776 | |||||||
18,215 | |||||||||
California (29.9%) | |||||||||
190 | California HFA Rev. (Home Mtge.), Ser. 2007-E, 5.00%, due 2/1/42 | 194 | |||||||
1,755 | California HFA Rev. (Home Mtge.), Ser. 2006-E, (FGIC Insured), 4.95%, due 8/1/26 | 1,770 | |||||||
2,250 | California Hlth. Facs. Fin. Au. Rev. (Cedars-Sinai Med. Ctr.), Ser. 2009, 5.00%, due 8/15/39 | 2,492 | ß | ||||||
1,000 | California Hlth. Facs. Fin. Au. Rev. (Children’s Hosp. Los Angeles), Ser. 2012-A, 5.00%, due 11/15/26 | 1,111 | ß | ||||||
1,725 | California Infrastructure & Econ. Dev. Bank St. Sch. Fund Rev. (King City Joint Union High Sch.), Ser. 2010, 5.13%, due 8/15/24 |
1,978 | |||||||
805 | California Muni. Fin. Au. Charter Sch. Lease Rev. (Sycamore Academy Proj.), Ser. 2014, 5.00%, due 7/1/24 |
811 | #ß | ||||||
630 | California Muni. Fin. Au. Charter Sch. Lease Rev. (Sycamore Academy Proj.), Ser. 2014, 5.13%, due 7/1/29 |
632 | #ß | ||||||
1,195 | California Muni. Fin. Au. Charter Sch. Lease Rev. (Vista Charter Middle Sch. Proj.), Ser. 2014, 5.00%, due 7/1/24 |
1,188 | Ñß | ||||||
430 | California Muni. Fin. Au. Charter Sch. Lease Rev. (Vista Charter Middle Sch. Proj.), Ser. 2014, 5.13%, due 7/1/29 |
422 | Ñß | ||||||
570 | California Muni. Fin. Au. Rev. (Baptist Univ.), Ser. 2015-A, 5.00%, due 11/1/30 | 573 | ñß | ||||||
585 | California Muni. Fin. Au. Rev. (Touro College & Univ. Sys. Obligated Group), Ser. 2014-A, 4.00%, due 1/1/26 |
610 | ß | ||||||
1,300 | California Sch. Fac. Fin. Au. Rev. (Alliance College - Ready Pub. Sch. Proj.), Ser. 2015-A, 5.00%, due 7/1/30 |
1,379 | ñß | ||||||
1,685 | California St. G.O., Ser. 2007, (XLCA Insured), 4.50%, due 8/1/27 | 1,761 | |||||||
5,000 | California St. Poll. Ctrl. Fin. Au. Wtr. Furnishing Rev., Ser. 2012, 5.00%, due 7/1/27 | 5,511 | ñß | ||||||
4,000 | California St. Var. Purp. G.O., Ser. 2009, 5.63%, due 4/1/25 | 4,617 | |||||||
735 | California Statewide CDA Rev. (California Baptist Univ. Proj.), Ser. 2007-A, 5.30%, due 11/1/18 | 767 | ß | ||||||
1,000 | California Statewide CDA Spec. Tax Rev. Ref. (Comm. Facs. Dist. Number 2007-01 Orinda Wilder Proj.), Ser. 2015, 4.25%, due 9/1/21 |
1,055 | |||||||
2,000 | Emery Unified Sch. Dist. G.O. (Election 2010), Ser. 2011-A, 6.50%, due 8/1/33 | 2,488 | |||||||
2,000 | Imperial Comm. College Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-A, (AGM Insured), 6.75%, due 8/1/40 |
2,436 | |||||||
1,950 | Inglewood Pub. Fin. Au. Ref. Rev. (Lease), Ser. 2012, 5.00%, due 8/1/17 | 2,075 | |||||||
1,115 | Inglewood Pub. Fin. Au. Ref. Rev. (Lease), Ser. 2012, 5.00%, due 8/1/18 | 1,220 | |||||||
590 | La Verne Cert. of Participation Ref. (Brethren Hillcrest Homes), Ser. 2014, 5.00%, due 5/15/29 | 630 | ß | ||||||
3,620 | Norwalk-La Mirada Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 2005-B, (AGM Insured), 0.00%, due 8/1/24 |
2,795 | |||||||
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 |
5,450 | d | ||||||
5,000 | Redondo Beach Unified Sch. Dist. G.O., Ser. 2009, 0.00%, due 8/1/34 | 5,688 | e |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
$1,645 | Rocklin Unified Sch. Dist. G.O. Cap. Appreciation, Ser. 1994-B, (National Public Finance Guarantee | ||||||||
Corp. Insured), 0.00%, due 8/1/19 | $1,441 | ||||||||
4,000 | Sacramento City Fin. Au. Ref. Rev. (Master Lease Prog. Facs.), Ser. 2006-E, (AMBAC Insured), | ||||||||
5.25%, due 12/1/26 | 4,945 | ||||||||
2,000 | San Bernardino Comm. College Dist. G.O. Cap. Appreciation (Election), Ser. 2009-B, | 1,967 | f | ||||||
0.00%, due 8/1/34 | |||||||||
740 | San Diego Redev. Agcy. Sub. Parking Rev. (Centre City Redev. Proj.), Ser. 2003-B, 5.00%, due 9/1/17 | 742 | |||||||
2,000 | San Francisco City & Co. Arpt. Commission Int’l Arpt. Ref. Rev., Ser. 2009-C2, 5.00%, due 5/1/25 | 2,265 | |||||||
6,000 | San Mateo Foster City Sch. Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2010-A, 0.00%, due 8/1/32 |
5,055 | g | ||||||
1,540 | Successor Agcy. to the Monrovia Redev. Agcy. Tax Allocation Rev. (Cent. Redev. Proj.), | ||||||||
Ser. 2013, 5.00%, due 8/1/26 | 1,658 | ||||||||
2,040 | Sweetwater Union High Sch. Dist. Pub. Fin. Au. Rev., Ser. 2013, (BAM Insured), 5.00%, due 9/1/25 | 2,413 | |||||||
920 | Vernon Elec. Sys. Rev., Ser. 2009-A, 5.13%, due 8/1/21 Pre-Refunded 8/1/19 | 1,016 | |||||||
2,080 | Vernon Elec. Sys. Rev., Ser. 2009-A, 5.13%, due 8/1/21 | 2,294 | |||||||
9,070 | Victor Valley Comm. College Dist. G.O. Cap. Appreciation (Election 2008), Ser. 2009-C, 0.00%, due 8/1/37 |
9,735 | 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 | 3,491 | ||||||||
3,000 | Wiseburn Sch. Dist. G.O. Cap. Appreciation (Election 2010), Ser. 2011-B, (AGM Insured), 0.00%, due 8/1/36 |
2,298 | j | ||||||
88,973 | |||||||||
Colorado (3.7%) | |||||||||
660 | Colorado Ed. & Cultural Facs. Au. Rev. (Charter Sch.- Atlas Preparatory Sch. Proj.), | 643 | ñß | ||||||
Ser. 2015, 4.50%, due 4/1/25 | |||||||||
1,000 | Colorado Ed. & Cultural Facs. Au. Rev. (Charter Sch.- Atlas Preparatory Sch. Proj.), | 957 | ñß | ||||||
Ser. 2015, 5.13%, due 4/1/35 | |||||||||
465 | Colorado Ed. & Cultural Facs. Au. Rev. Ref., Ser. 2014, 4.00%, due 11/1/24 | 461 | Ñß | ||||||
750 | Colorado Ed. & Cultural Facs. Au. Rev. Ref., Ser. 2014, 4.50%, due 11/1/29 | 737 | Ñß | ||||||
5,000 | Denver City & Co. Arpt. Sys. Rev., Ser. 2011-B, 5.00%, due 11/15/24 | 5,681 | |||||||
2,550 | Plaza Metro. Dist. Number 1 Tax Allocation Rev., Ser. 2013, 4.00%, due 12/1/23 | 2,584 | ñ | ||||||
11,063 | |||||||||
Connecticut (0.3%) | |||||||||
750 | Hamden G.O., Ser. 2013, (AGM Insured), 3.13%, due 8/15/25 | 760 | |||||||
District of Columbia (3.0%) | |||||||||
1,615 | Dist. of Columbia HFA Rev. (Capitol Hill Towers Proj.), Ser. 2011, (Fannie Mae Insured), | 1,720 | ß | ||||||
4.10%, due 12/1/26 | |||||||||
750 | Dist. of Columbia Hosp. Rev., Ser. 2010, (Assured Guaranty Insured), 0.21%, due 7/15/17 | 750 | ñµ | ||||||
3,035 | Dist. of Columbia Rev. (Friendship Pub. Charter Sch.), Ser. 2012, 3.55%, due 6/1/22 | 3,103 | ß | ||||||
1,000 | Metro. Washington Dist. of Columbia Arpt. Au. Sys. Rev., Ser. 2008-A, 5.50%, due 10/1/18 | 1,124 | |||||||
2,000 | Metro. Washington Dist. of Columbia Arpt. Au. Sys. Rev., Ser. 2011-C, 5.00%, due 10/1/26 | 2,291 | |||||||
8,988 | |||||||||
Florida (5.1%) | |||||||||
1,000 | Cityplace Comm. Dev. Dist. Spec. Assessment Rev. Ref., Ser. 2012, 5.00%, due 5/1/26 | 1,088 | |||||||
1,000 | Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.), Ser. 2012-A, | 1,057 | ß | ||||||
5.50%, due 6/15/22 | |||||||||
3,120 | Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.), Ser. 2013-A, | 3,338 | ß | ||||||
6.75%, due 12/15/27 | |||||||||
1,750 | Florida Dev. Fin. Corp. Ed. Facs. Rev. (Renaissance Charter Sch., Inc.), Ser. 2014-A, | 1,776 | ß | ||||||
5.75%, due 6/15/29 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
$100 | Greater Orlando Aviation Au. Arpt. Facs. Ref. Rev. (Jetblue Airways Corp. Proj.), Ser. 2013, | $102 | ß | ||||||
5.00%, due 11/15/36 | |||||||||
1,000 | Hillsborough Co. Ind. Dev. Au. IDR (Hlth. Facs.), Ser. 2008-B, 8.00%, due 8/15/32 | 1,263 | ß | ||||||
Pre-Refunded 8/15/19 | |||||||||
1,135 | Lakeland Ed. Facs. Rev. Ref. (Florida So. College Proj.), Ser. 2012-A, 5.00%, due 9/1/27 | 1,243 | ß | ||||||
2,000 | Lee Co. Arpt. Ref. Rev., Ser. 2011-A, 5.63%, due 10/1/25 | 2,359 | |||||||
2,000 | Martin Co. Ind. Dev. Au. Ref. Rev. (Indiantown Cogeneration Proj.), Ser. 2013, 4.20%, due 12/15/25 | 2,027 | ß | ||||||
1,000 | Village Comm. Dev. Dist. Number 11 Spec. Assessment Rev., Ser. 2014, 4.13%, due 5/1/29 | 1,013 | |||||||
15,266 | |||||||||
Georgia (0.4%) | |||||||||
1,100 | Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25 | 1,101 | #ß | ||||||
Guam (1.7%) | |||||||||
1,220 | Guam Gov’t Hotel Occupancy Tax Rev., Ser. 2011-A, 5.75%, due 11/1/20 | 1,422 | |||||||
650 | Guam Gov’t Hotel Occupancy Tax Rev., Ser. 2011-A, 5.75%, due 11/1/21 | 760 | |||||||
2,630 | Guam Gov’t Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25 | 2,901 | |||||||
5,083 | |||||||||
Hawaii (2.7%) | |||||||||
5,200 | Hawaii St. Arpt. Sys. Ref. Rev., Ser. 2011, 4.13%, due 7/1/24 | 5,657 | |||||||
2,000 | Hawaii St. Dept. of Budget & Fin. Spec. Purp. Rev. (Hawaii Elec. Co., Inc. - Subsidiary), | 2,269 | ß | ||||||
Ser. 2009, 6.50%, due 7/1/39 | |||||||||
7,926 | |||||||||
Illinois (17.7%) | |||||||||
1,870 | Bartlett Sr. Lien Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17 | 1,894 | |||||||
5,705 | Berwyn G.O., Ser. 2013-A, 5.00%, due 12/1/27 | 6,396 | |||||||
2,000 | Chicago G.O., Ser. 2002-B, 5.00%, due 1/1/25 | 2,017 | |||||||
1,000 | Chicago Ref. G.O., Ser. 2005-D, 5.50%, due 1/1/40 | 1,018 | |||||||
700 | Chicago Ref. G.O., Ser. 2014-A, 5.00%, due 1/1/27 | 704 | |||||||
1,350 | Cook Co. Sch. Dist. Number 83 G.O. (Mannheim), Ser. 2013-C, 5.45%, due 12/1/30 | 1,455 | |||||||
1,960 | Cook Co. Sch. Dist. Number 83 G.O. (Mannheim), Ser. 2013-C, 5.50%, due 12/1/31 | 2,116 | |||||||
1,970 | Cook Co. Township High Sch. Dist. Number 225 Northfield Township, Ser. 2008, 5.00%, due 12/1/25 | 2,179 | |||||||
1,875 | Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.00%, due 4/1/16 | 1,894 | ß | ||||||
4,000 | Illinois Fin. Au. Ref. Rev. (Roosevelt Univ. Proj.), Ser. 2009, 5.75%, due 4/1/24 | 4,279 | ß | ||||||
5,840 | Illinois Fin. Au. Rev. (Provena Hlth.), Ser. 2010-A, 6.25%, due 5/1/22 | 6,800 | ß | ||||||
1,670 | Illinois Metro. Pier & Exposition Au. Dedicated St. Tax Ref. Rev., Ser. 1998-A, (FGIC Insured), | 1,801 | |||||||
5.50%, due 6/15/17 | |||||||||
1,905 | Illinois Sports Facs. Au. Cap. Appreciation Rev. (St. Tax Supported), Ser. 2001, (AMBAC Insured), | 1,198 | |||||||
0.00%, due 6/15/26 | |||||||||
3,900 | Illinois St. G.O., Ser. 2012, 4.00%, due 8/1/25 | 3,853 | |||||||
1,000 | Illinois St. G.O., Ser. 2013, 5.00%, due 7/1/23 | 1,094 | |||||||
1,830 | Pingree Grove Village Rev. (Cambridge Lakes Learning Ctr. Proj.), Ser. 2011, 8.00%, due 6/1/26 | 2,003 | ß | ||||||
945 | So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.), Ser. 2014-A-1, (BAM Insured), | 1,030 | |||||||
5.00%, due 2/15/27 | |||||||||
1,375 | So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.), Ser. 2014-A-1, (BAM Insured), | 1,487 | |||||||
5.00%, due 2/15/28 | |||||||||
715 | So. Illinois Univ. Cert. of Participation (Cap. Imp. Proj.), Ser. 2014-A-1, (BAM Insured), | 767 | |||||||
5.00%, due 2/15/29 | |||||||||
2,725 | Univ. of Illinois (Hlth. Svc. Facs. Sys.), Ser. 2013, 5.00%, due 10/1/27 | 3,043 | ß | ||||||
2,875 | Univ. of Illinois (Hlth. Svc. Facs. Sys.), Ser. 2013, 5.75%, due 10/1/28 | 3,455 | ß | ||||||
1,850 | Will Co. High Sch. Dist. Number 204 G.O. (Joliet Jr. College), Ser. 2011-A, 6.25%, due 1/1/31 | 2,246 | |||||||
52,729 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
Indiana (5.1%) | |||||||||
$4,000 | Indiana Bond Bank Rev. (Spec. Prog. Clark Mem. Hosp.), Ser. 2009-D, 5.50%, | $4,590 | ß | ||||||
due 8/1/29 Pre-Refunded 2/1/19 | |||||||||
500 | Indiana Fin. Au. Midwestern Disaster Relief Rev. (Ohio Valley Elec. Corp. Proj.), | 527 | ß | ||||||
Ser. 2012-A, 5.00%, due 6/1/32 | |||||||||
500 | Indiana Fin. Au. Rev. (I-69 Dev. Partners LLC), Ser. 2014, 5.25%, due 9/1/25 | 584 | ß | ||||||
500 | Indiana Fin. Au. Rev. (I-69 Dev. Partners LLC), Ser. 2014, 5.25%, due 9/1/26 | 578 | ß | ||||||
4,000 | Indiana Hlth. & Ed. Fac. Fin. Au. Hosp. Ref. Rev. (Clarian Hlth. Oblig. Group), | 4,053 | ß | ||||||
Ser. 2006-B, 5.00%, due 2/15/21 | |||||||||
3,055 | Indiana Trans. Fin. Au. Hwy. Ref. Rev., Ser. 2004-B, (National Public Finance Guarantee Corp. Insured), | 3,772 | |||||||
5.75%, due 12/1/21 | |||||||||
1,000 | Valparaiso Exempt Facs. Rev. (Pratt Paper LLC Proj.), Ser. 2013, 5.88%, due 1/1/24 | 1,154 | ß | ||||||
15,258 | |||||||||
Iowa (3.1%) | |||||||||
5,110 | Iowa Fin. Au. Rev. (St. Revolving Fund Prog.), Ser. 2008, 5.50%, due 8/1/22 Pre-Refunded 8/1/18 | 5,755 | |||||||
2,430 | Iowa Std. Loan Liquidity Corp. Rev., Ser. 2011-A-1, 5.00%, due 12/1/21 | 2,583 | |||||||
700 | Iowa Std. Loan Liquidity Corp. Rev., Ser. 2011-A-1, 5.30%, due 12/1/23 | 740 | |||||||
9,078 | |||||||||
Kentucky (0.0%) | |||||||||
100 | Ohio Co. PCR Ref. (Big Rivers Elec. Corp. Proj.), Ser. 2010-A, 6.00%, due 7/15/31 | 101 | ß | ||||||
Louisiana (1.5%) | |||||||||
1,500 | Louisiana Local Gov’t Env. Fac. & Comm. (Westlake Chemical Corp.), Ser. 2010-A2, | 1,765 | ß | ||||||
6.50%, due 11/1/35 | |||||||||
775 | Louisiana Pub. Facs. Au. Rev. (Southwest Louisiana Charter Academy Foundation Proj.), | 880 | ß | ||||||
Ser. 2013-A, 7.63%, due 12/15/28 | |||||||||
1,655 | St. Charles Parish Gulf Zone Opportunity Rev. (Valero Energy Corp.), Ser. 2010, 4.00%, | 1,762 | µß | ||||||
due 12/1/40 Putable 6/1/22 | |||||||||
4,407 | |||||||||
Maine (0.8%) | |||||||||
2,400 | Maine St. Fin. Au. Solid Waste Disp. Rev. (Casella Waste Sys., Inc.), Ser. 2005, | 2,475 | ñµß | ||||||
6.25%, due 1/1/25 Putable 2/1/17 | |||||||||
Maryland (0.9%) | |||||||||
100 | Howard Co. Retirement Comm. Rev. Ref. (Vantage House Fac.), Ser. 2007-A, 5.25%, due 4/1/33 | 97 | ß | ||||||
2,400 | Prince Georges Co. Hsg. Au. Multi-Family Rev. (Bristol Pines Apts. Proj.), Ser. 2005, | 2,443 | µß | ||||||
(Fannie Mae Insured), 4.85%, due 12/15/38 Putable 12/15/23 | |||||||||
2,540 | |||||||||
Massachusetts (7.0%) | |||||||||
200 | Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/24 | 216 | ß | ||||||
415 | Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/25 | 443 | ß | ||||||
200 | Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/26 | 212 | ß | ||||||
190 | Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/27 | 200 | ß | ||||||
150 | Massachusetts St. Dev. Fin. Agcy. Rev. (Milford Reg. Med. Ctr.), Ser. 2014-F, 5.00%, due 7/15/28 | 156 | ß | ||||||
2,835 | Massachusetts St. Ed. Fin. Au. Rev., Ser. 2011-J, 5.00%, due 7/1/23 | 3,109 | |||||||
3,990 | Massachusetts St. Ed. Fin. Au. Rev., Ser. 2012-J, 4.70%, due 7/1/26 | 4,167 | |||||||
4,500 | Massachusetts St. Ed. Fin. Au. Rev., Ser. 2013-K, 4.50%, due 7/1/24 | 4,761 | |||||||
5,000 | Massachusetts St. HFA Hsg. Rev., Ser. 2010-C, 4.90%, due 12/1/25 | 5,309 | |||||||
2,095 | Massachusetts St. Wtr. Poll. Abatement Trust Rev. (MWRA Prog.), Ser. 2002-A, 5.25%, due 8/1/19 | 2,103 | |||||||
20,676 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
Michigan (1.5%) | |||||||||
$1,000 | Jackson College Dormitories Hsg. Rev., Ser. 2015, 6.50%, due 5/1/35 | $998 | |||||||
500 | Jackson College Dormitories Hsg. Rev., Ser. 2015, 6.75%, due 5/1/46 | 497 | |||||||
2,000 | Summit Academy North Pub. Sch. Academy Ref. Rev., Ser. 2005, 5.25%, due 11/1/20 | 2,004 | |||||||
750 | Summit Academy North Pub. Sch. Academy Ref. Rev., Ser. 2005, 5.50%, due 11/1/35 | 751 | |||||||
100 | Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.38%, due 11/1/35 | 100 | |||||||
150 | Summit Academy Pub. Sch. Academy Ref. Rev., Ser. 2005, 6.00%, due 11/1/15 | 150 | |||||||
4,500 | |||||||||
Minnesota (1.6%) | |||||||||
2,000 | Maple Grove Hlth. Care Sys. Rev. (Maple Grove Hosp. Corp.), Ser. 2007, 5.00%, due 5/1/17 | 2,108 | ß | ||||||
2,250 | Minneapolis & St. Paul Hsg. & Redev. Au. Hlth. Care Sys. (Children’s Hlth. Care Facs.), | 2,495 | ß | ||||||
Ser. 2010-A1, (AGM Insured), 4.50%, due 8/15/24 | |||||||||
4,603 | |||||||||
Mississippi (1.4%) | |||||||||
3,665 | Mississippi Bus. Fin. Corp. Gulf Opportunity Zone Rev., Ser. 2009-A, 4.70%, due 5/1/24 | 4,055 | ß | ||||||
Missouri (1.2%) | |||||||||
685 | Bridgeton Ind. Dev. Au. Ref. Rev. (Hilltop Comm. Imp. Dist. Proj.), Ser. 2015-A, 4.25%, due 5/1/35 | 680 | |||||||
390 | Missouri St. Env. Imp. & Energy Res. Au. Wtr. PCR (Unrefunded Bal. Drinking Wtr.), | 392 | |||||||
Ser. 2002-B, 5.50%, due 7/1/16 | |||||||||
2,275 | Missouri St. Hlth. & Ed. Facs. Au. Rev. (Children’s Mercy Hosp.), Ser. 2009, 5.13%, due 5/15/24 | 2,551 | ß | ||||||
3,623 | |||||||||
Nevada (2.5%) | |||||||||
1,900 | Director of the St. of Nevada Dept. of Bus. & Ind. Rev. (Somerset Academy), | 1,858 | ñß | ||||||
Ser. 2015-A, 4.00%, due 12/15/25 | |||||||||
1,635 | Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 6.50%, due 6/15/17 | 1,728 | |||||||
3,545 | Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23 | 3,986 | |||||||
7,572 | |||||||||
New Hampshire (0.5%) | |||||||||
1,500 | New Hampshire St. Bus. Fin. Au. Solid Waste Disp. Rev. (Casella Waste Sys., Inc.), Ser. 2013, | 1,510 | ñµß | ||||||
4.00%, due 4/1/29 Putable 10/1/19 | |||||||||
New Jersey (5.5%) | |||||||||
2,500 | New Jersey Econ. Dev. Au. Rev. (Continental Airlines, Inc., Proj.), Ser. 1999, 5.13%, due 9/15/23 | 2,729 | ß | ||||||
500 | New Jersey Econ. Dev. Au. Rev. (The Goethals Bridge Replacement Proj.), | 570 | ß | ||||||
Ser. 2013, 5.25%, due 1/1/25 | |||||||||
500 | New Jersey Econ. Dev. Au. Rev. (The Goethals Bridge Replacement Proj.), | 573 | ß | ||||||
Ser. 2013, 5.50%, due 1/1/26 | |||||||||
1,420 | New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), | 1,406 | ß | ||||||
Ser. 2013, 3.50%, due 7/1/24 | |||||||||
1,470 | New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), | 1,451 | ß | ||||||
Ser. 2013, 3.63%, due 7/1/25 | |||||||||
1,520 | New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), | 1,502 | ß | ||||||
Ser. 2013, 3.75%, due 7/1/26 | |||||||||
765 | New Jersey Econ. Dev. Au. Rev. (United Methodist Homes of New Jersey Obligated Group), | 764 | ß | ||||||
Ser. 2013, 4.00%, due 7/1/27 | |||||||||
7,000 | New Jersey Higher Ed. Assist. Au. Rev. (Std. Loan Rev.), Ser. 2012-1A, 4.38%, due 12/1/26 | 7,305 | |||||||
16,300 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
New Mexico (0.5%) | |||||||||
$500 | Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. | $510 | # | ||||||
(Gross Receipts Tax Increment Bond), Ser. 2015, 5.25%, due 5/1/25 | |||||||||
1,000 | Winrock Town Ctr. Tax Increment Dev. Dist. Number 1 Tax Allocation Sr. Lien Rev. | 1,037 | # | ||||||
(Gross Receipts Tax Increment Bond), Ser. 2015, 5.75%, due 5/1/30 | |||||||||
1,547 | |||||||||
New York (12.7%) | |||||||||
625 | Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Orchard Park), Ser. 2015, 5.00%, due 11/15/29 | 665 | ßØØ | ||||||
1,100 | Build NYC Res. Corp. Rev., Ser. 2014, 5.00%, due 11/1/24 | 1,197 | ß | ||||||
835 | Build NYC Res. Corp. Rev., Ser. 2014, 5.25%, due 11/1/29 | 907 | ß | ||||||
1,140 | Build NYC Res. Corp. Rev. (Int’l Leadership Charter Sch. Proj.), Ser. 2013, 5.00%, due 7/1/23 | 1,119 | ß | ||||||
500 | Build NYC Res. Corp. Rev. (South Bronx Charter Sch. for Int’l Cultures and the Arts), | 491 | ß | ||||||
Ser. 2013-A, 3.88%, due 4/15/23 | |||||||||
1,450 | Build NYC Res. Corp. Rev. (South Bronx Charter Sch. for Int’l Cultures and the Arts), | 1,408 | ß | ||||||
Ser. 2013-A, 5.00%, due 4/15/43 | |||||||||
1,000 | Build NYC Res. Corp. Solid Waste Disp. Ref. Rev. (Pratt Paper, Inc. Proj.), | 1,070 | ñß | ||||||
Ser. 2014, 4.50%, due 1/1/25 | |||||||||
700 | Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.), Ser. 2014, 5.00%, due 7/1/23 | 779 | ß | ||||||
735 | Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.), Ser. 2014, 5.00%, due 7/1/24 | 822 | ß | ||||||
1,400 | Jefferson Co. IDA Solid Waste Disp. Rev. (Green Bond), Ser. 2014, 5.25%, due 1/1/24 | 1,345 | ñß | ||||||
1,000 | New York City IDA Civic Fac. Rev. (Vaughn College Aeronautics & Technology), | 1,024 | ß | ||||||
Ser. 2006-A, 5.00%, due 12/1/28 | |||||||||
500 | New York Liberty Dev. Corp. Ref. Rev. (3 World Trade Ctr. Proj.), Ser. 2014-2, 5.38%, due 11/15/40 | 524 | ñß | ||||||
1,100 | New York Liberty Dev. Corp. Rev. (Nat’l Sports Museum Proj.), Ser. 2006-A, 6.13%, due 2/15/19 | 0 | #‡ | ||||||
4,000 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), | 4,595 | ß | ||||||
Ser. 2009, 5.25%, due 7/1/33 Pre-Refunded 7/1/19 | |||||||||
3,200 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Univ. Facs.), Ser. 2013-A, 5.00%, due 7/1/28 | 3,711 | |||||||
2,000 | New York St. HFA Rev. (Affordable Hsg.), Ser. 2009-B, 4.85%, due 11/1/41 | 2,074 | |||||||
2,000 | New York St. Mtge. Agcy. Homeowner Mtge. Ref. Rev., Ser. 2014-189, 3.45%, due 4/1/27 | 2,006 | |||||||
2,000 | New York St. Urban Dev. Corp. Rev., Ser. 2008-D, 5.25%, due 1/1/20 | 2,260 | |||||||
710 | Newburgh G.O., Ser. 2012-A, 5.00%, due 6/15/20 | 782 | |||||||
495 | Newburgh G.O. (Deficit Liquidation), Ser. 2012-B, 5.00%, due 6/15/20 | 545 | |||||||
520 | Newburgh G.O. (Deficit Liquidation), Ser. 2012-B, 5.00%, due 6/15/21 | 575 | |||||||
550 | Newburgh G.O. (Deficit Liquidation), Ser. 2012-B, 5.00%, due 6/15/22 | 608 | |||||||
1,435 | Niagara Area Dev. Corp. Rev. (Niagara Univ. Proj.), Ser. 2012-A, 5.00%, due 5/1/23 | 1,599 | ß | ||||||
1,000 | Niagara Area Dev. Corp. Solid Waste Disp. Fac. Rev. (Covanta Energy Proj.), | 1,007 | ñß | ||||||
Ser. 2012-B, 4.00%, due 11/1/24 | |||||||||
3,000 | Non-Profit Pfd. Fdg. Trust I, Ser. 2006-C, 4.72%, due 9/15/37 | 2,406 | # | ||||||
1,155 | Suffolk Co. Judicial Facs. Agcy. Lease Rev. (H. Lee Dennison Bldg.), Ser. 2013, 4.25%, due 11/1/26 | 1,215 | |||||||
2,000 | Utility Debt Securitization Au. Rev., Ser. 2013-TE, 5.00%, due 12/15/28 | 2,388 | |||||||
600 | Westchester Co. Local Dev. Corp. Rev. Ref. (Wartburg Sr. Hsg. Proj.), Ser. 2015-A, 5.00%, due 6/1/30 | 602 | ñß | ||||||
37,724 | |||||||||
North Carolina (3.7%) | |||||||||
1,835 | North Carolina Med. Care Commission Hlth. Care Facs. Rev. (Lutheran Svc. For Aging, Inc.), | 1,901 | ß | ||||||
Ser. 2012-A, 4.25%, due 3/1/24 | |||||||||
2,000 | North Carolina Med. Care Commission Retirement Facs. Rev., Ser. 2013, 5.13%, due 7/1/23 | 2,162 | ß | ||||||
3,740 | North Carolina Muni. Pwr. Agcy. Number 1 Catawba Elec. Ref. Rev., Ser. 2009-A, 5.00%, | 4,213 | |||||||
due 1/1/26 Pre-Refunded 1/1/19 | |||||||||
1,510 | North Carolina Muni. Pwr. Agcy. Number 1 Catawba Elec. Ref. Rev., Ser. 2009-A, 5.00%, due 1/1/26 | 1,680 | |||||||
1,000 | Oak Island Enterprise Sys. Rev., Ser. 2009, (Assured Guaranty Insured), 5.63%, | 1,163 | |||||||
due 6/1/24 Pre-Refunded 6/1/19 | |||||||||
11,119 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
Ohio (1.5%) | |||||||||
$2,060 | Cleveland Arpt. Sys. Rev. Ref., Ser. 2012-A, 5.00%, due 1/1/27 | $2,279 | |||||||
1,000 | Ohio St. Wtr. Dev. Au. Poll Ctrl. Facs. Rev. Ref. (First Energy Nuclear Generation Proj.), | 1,027 | µß | ||||||
Ser. 2006-B, 4.00%, due 12/1/33 Putable 6/3/19 | |||||||||
1,000 | Ohio St. Wtr. Dev. Au. Poll Ctrl. Facs. Rev. Ref. (First Energy Nuclear Generation Proj.), | 1,033 | µß | ||||||
Ser. 2008-C, 3.95%, due 11/1/32 Putable 5/1/20 | |||||||||
4,339 | |||||||||
Oklahoma (0.2%) | |||||||||
250 | Tulsa Arpt. Imp. Trust Ref. Rev., Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/24 | 285 | |||||||
400 | Tulsa Arpt. Imp. Trust Ref. Rev., Ser. 2015-A, (BAM Insured), 5.00%, due 6/1/25 | 452 | |||||||
737 | |||||||||
Oregon (0.2%) | |||||||||
480 | Oregon St. Hsg. & Comm. Svc. Dept. Multi-Family Rev., Ser. 2012-B, (FHA Insured), | 484 | |||||||
3.50%, due 7/1/27 | |||||||||
Pennsylvania (8.8%) | |||||||||
3,000 | Beaver Co. Ind. Dev. Au. Rev. Ref. (Firstenergy Generation LLC), Ser. 2006-A, 3.50%, | 3,043 | µß | ||||||
due 4/1/41 Putable 6/1/20 | |||||||||
500 | Indiana Co. Ind. Dev. Au. Rev. (Std. Cooperative Assoc., Inc.), Ser. 2012, 3.50%, due 5/1/25 | 503 | ß | ||||||
350 | Indiana Co. Ind. Dev. Au. Rev. (Std. Cooperative Assoc., Inc.), Ser. 2012, 3.60%, due 5/1/26 | 353 | ß | ||||||
2,830 | Lancaster Co. Hosp. Au. Ref. Rev. (Hlth. Centre-Landis Homes Retirement Comm. Proj.), | 2,778 | ß | ||||||
Ser. 2015-A, 4.25%, due 7/1/30 | |||||||||
2,000 | Lancaster Co. Hosp. Au. Rev. (Brethren Village Proj.), Ser. 2008-A, 6.10%, due 7/1/22 | 2,082 | ß | ||||||
1,250 | Lancaster Ind. Dev. Au. Rev. (Garden Spot Village Proj.), Ser. 2013, 5.38%, due 5/1/28 | 1,361 | ß | ||||||
1,105 | Moon Ind. Dev. Au. Rev. Ref. (Baptist Homes Society Obligated Group), Ser. 2015, 5.63%, due 7/1/30 | 1,098 | ß | ||||||
3,430 | Norristown Area Sch. Dist. Cert. of Participation (Installment Purchase), Ser. 2012, 4.50%, due 4/1/27 | 3,561 | |||||||
2,625 | Pennsylvania Econ. Dev. Fin. Au. Exempt Facs. Rev. Ref. (Amtrak Proj.), Ser. 2012-A, | 2,959 | ß | ||||||
5.00%, due 11/1/24 | |||||||||
1,000 | Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2, | 1,105 | b | ||||||
0.00%, due 12/1/34 | |||||||||
895 | Philadelphia Au. For Ind. Dev. Rev. (Discovery Charter Sch. Proj.), Ser. 2012, 5.00%, due 4/1/22 | 859 | ß | ||||||
415 | Philadelphia Au. For Ind. Dev. Rev. (Discovery Charter Sch. Proj.), Ser. 2012, 5.50%, due 4/1/27 | 398 | ß | ||||||
3,785 | Reading G.O., Ser. 2010-C, 5.63%, due 11/15/20 | 3,947 | |||||||
2,000 | Susquehanna Area Reg. Arpt. Au. Sys. Rev., Ser. 2012-A, 5.00%, due 1/1/27 | 2,178 | |||||||
26,225 | |||||||||
Puerto Rico (0.7%) | |||||||||
2,020 | Puerto Rico Commonwealth Ref. G.O. (Pub. Imp.), Ser. 2001-A, (National Public Finance Guarantee | 2,065 | |||||||
Corp. Insured), 5.50%, due 7/1/20 | |||||||||
Rhode Island (1.4%) | |||||||||
1,000 | Rhode Island St. Hlth. & Ed. Bldg. Corp. Rev. (Hosp. Fin. - Care New England Hlth. Sys.), | 1,078 | ß | ||||||
Ser. 2013-A, 5.00%, due 9/1/23 | |||||||||
2,650 | Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.), Ser. 2013-A, 3.75%, due 12/1/26 | 2,592 | |||||||
565 | Rhode Island St. Std. Loan Au. Std. Loan Rev. (Sr. Prog.), Ser. 2013-A, 3.75%, due 12/1/27 | 548 | |||||||
4,218 | |||||||||
Tennessee (1.8%) | |||||||||
2,705 | Memphis-Shelby Co. Arpt. Au. Arpt. Rev., Ser. 2010-B, 5.50%, due 7/1/19 | 3,094 | |||||||
2,000 | Tennessee St. Energy Acquisition Corp. Gas Rev. (Goldman Sachs Group, Inc.), | 2,367 | |||||||
Ser. 2006-A, 5.25%, due 9/1/23 | |||||||||
5,461 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
Texas (6.7%) | |||||||||
$500 | Arlington Higher Ed. Fin. Corp. Rev. (Universal Academy), Ser. 2014-A, 5.88%, due 3/1/24 | $514 | ß | ||||||
1,000 | Arlington Higher Ed. Fin. Corp. Rev. (Universal Academy), Ser. 2014-A, 6.63%, due 3/1/29 | 1,034 | ß | ||||||
1,050 | Clifton Higher Ed. Fin. Corp. Rev. (Uplift Ed.), Ser. 2013-A, 3.10%, due 12/1/22 | 1,027 | ß | ||||||
250 | Dallas Co. Flood Ctrl. Dist. Ref. G.O., Ser. 2015, 5.00%, due 4/1/28 | 254 | ñØ | ||||||
2,000 | Fort Bend Co. Ind. Dev. Corp. Rev. (NRG Energy, Inc.), Ser. 2012-B, 4.75%, due 11/1/42 | 1,976 | ß | ||||||
500 | Gulf Coast Ind. Dev. Au. Rev. (CITGO Petroleum Proj.), Ser. 1995, 4.88%, due 5/1/25 | 520 | ß | ||||||
1,000 | Harris Co. Cultural Ed. Facs. Fin. Corp. Rev. (Brazos Presbyterian Homes, Inc. Proj.), | 1,103 | ß | ||||||
Ser. 2013-B, 5.75%, due 1/1/28 | |||||||||
2,900 | Harris Co. Toll Road Sr. Lien Rev., Ser. 2008-B, 5.00%, due 8/15/33 | 3,185 | |||||||
610 | HFDC Ctr. Texas, Inc. Retirement Fac. Rev., Ser. 2006-A, 5.25%, due 11/1/15 | 610 | ß | ||||||
525 | Houston Higher Ed. Fin. Corp. Rev. (Cosmos Foundation), Ser. 2012-A, 4.00%, due 2/15/22 | 549 | ß | ||||||
1,000 | Houston Higher Ed. Fin. Corp. Rev. (Cosmos Foundation), Ser. 2012-A, 5.00%, due 2/15/32 | 1,084 | ß | ||||||
1,000 | Houston Pub. Imp. Ref. G.O., Ser. 2008-A, 5.00%, due 3/1/20 | 1,097 | |||||||
3,000 | North Texas Tollway Au. Dallas North Tollway Sys. Rev., Ser. 2005-C, 6.00%, due 1/1/23 | 3,424 | |||||||
500 | San Leanna Ed. Fac. Corp. Higher Ed. Ref. Rev. (St. Edwards Univ. Proj.), Ser. 2007, 5.00%, due 6/1/19 | 529 | ß | ||||||
1,500 | Texas Pub. Fin. Au. Rev. (So. Univ. Fin. Sys.), Ser. 2013, (BAM Insured), 5.00%, due 11/1/21 | 1,689 | |||||||
1,175 | West Harris Co. Reg. Wtr. Au. Sys. Wtr. Rev., Ser. 2009, 5.00%, due 12/15/35 | 1,309 | |||||||
19,904 | |||||||||
Utah (2.0%) | |||||||||
3,000 | Salt Lake Co. Hosp. Rev. (IHC Hlth. Svc., Inc.), Ser. 2001, (AMBAC Insured), 5.40%, due 2/15/28 | 3,521 | ß | ||||||
1,200 | Uintah Co. Muni. Bldg. Au. Lease Rev., Ser. 2008, 5.25%, due 6/1/20 | 1,319 | |||||||
500 | Utah Charter Sch. Fin. Au. Rev. (Spectrum Academy Proj.), Ser. 2015, 6.00%, due 4/15/45 | 520 | ñß | ||||||
185 | Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.00%, due 7/1/20 | 188 | |||||||
170 | Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.25%, due 7/1/21 | 173 | |||||||
245 | Utah Hsg. Corp. Single Family Mtge. Rev., Ser. 2011-A2, Class I, 5.45%, due 7/1/22 | 249 | |||||||
5,970 | |||||||||
Vermont (3.2%) | |||||||||
1,600 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2012-A, 5.00%, due 6/15/21 | 1,806 | |||||||
465 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.25%, due 6/15/24 | 492 | |||||||
1,105 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.35%, due 6/15/25 | 1,157 | |||||||
1,640 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.45%, due 6/15/26 | 1,703 | |||||||
535 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2013-A, 4.55%, due 6/15/27 | 554 | |||||||
1,800 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2014-A, 5.00%, due 6/15/24 | 2,060 | |||||||
1,700 | Vermont Std. Assist. Corp. Ed. Loan Rev., Ser. 2015-A, 4.13%, due 6/15/27 | 1,736 | |||||||
9,508 | |||||||||
Virginia (0.7%) | |||||||||
1,000 | Fairfax Co. Econ. Dev. Au. Residential Care Fac. Rev. (Vinson Hall LLC), Ser. 2013-A, | 1,020 | ß | ||||||
4.00%, due 12/1/22 | |||||||||
1,000 | Virginia Beach Dev. Au. Residential Care Fac. Mtge. Ref. Rev. (Westminster-Canterbury of Hampton | 1,000 | ß | ||||||
Roads, Inc.), Ser. 2005, 5.00%, due 11/1/22 | |||||||||
2,020 | |||||||||
Washington (3.8%) | |||||||||
1,600 | Skagit Co. Pub. Hosp. Dist. Number 1 Ref. Rev., Ser. 2007, 5.63%, due 12/1/25 | 1,722 | |||||||
6,700 | Vancouver Downtown Redev. Au. Rev. (Conference Ctr. Proj.), Ser. 2013, 4.00%, due 1/1/28 | 6,932 | |||||||
2,525 | Washington St. Higher Ed. Fac. Au. Ref. Rev. (Whitworth Univ. Proj.), Ser. 2009, 5.38%, due 10/1/29 | 2,756 | ß | ||||||
11,410 | |||||||||
West Virginia (0.4%) | |||||||||
1,000 | West Virginia Sch. Bldg. Au. Excess Lottery Rev., Ser. 2008, 5.00%, due 7/1/19 | 1,104 |
See Notes to Schedule of Investments
Schedule of Investments Intermediate Municipal Fund Inc. (cont’d)
PRINCIPAL |
VALUE† |
||||||||
Wisconsin (5.0%) | |||||||||
$870 | Pub. Fin. Au. Ed. Rev. (Pine Lake Preparatory, Inc.), Ser. 2015, 4.95%, due 3/1/30 | $872 | ñß | ||||||
200 | Pub. Fin. Au. Ed. Rev. (Resh Triangle High Sch. Proj.), Ser. 2015-A, 5.38%, due 7/1/35 | 198 | ñß | ||||||
2,000 | Pub. Fin. Au. Rev. Ref. (Roseman Univ. Hlth. Sciences Proj.), Ser. 2015, 5.00%, due 4/1/25 | 2,074 | ß | ||||||
1,100 | Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College), Ser. 2010-A, 6.13%, due 6/1/35 | 1,224 | ß | ||||||
1,225 | Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Beloit College), Ser. 2010-A, 6.13%, due 6/1/39 | 1,357 | ß | ||||||
1,340 | Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Marquette Univ.), Ser. 2008-B3, 5.00%, due 10/1/30 | 1,552 | ß | ||||||
Pre-Refunded 12/23/19 | |||||||||
3,660 | Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Marquette Univ.), Ser. 2008-B3, 5.00%, due 10/1/30 | 4,117 | ß | ||||||
3,000 | Wisconsin St. Hlth. & Ed. Fac. Au. Rev. (Meriter Hosp., Inc.), Ser. 2009, 5.63%, due 12/1/29 | 3,427 | ß | ||||||
Pre-Refunded 12/1/18 | |||||||||
14,821 | |||||||||
Total Municipal Notes (Cost $430,450) | 469,274 | ||||||||
Tax Exempt Preferred (0.7%) | |||||||||
Real Estate (0.7%) | |||||||||
1,775 | Munimae TE Bond Subsidiary LLC, Unsecured Notes, 5.00%, due 4/30/28 (Cost $1,775) | 1,926 | # | ||||||
Total Investments (158.5%) (Cost $432,225) | 471,200 | ## | |||||||
Cash, receivables and other assets, less liabilities (1.8%) | 5,503 | ||||||||
Liquidation Value of Variable Rate Municipal Term Preferred Shares [(60.3%)] | (179,400 | ) | |||||||
Total Net Assets Applicable to Common Stockholders (100.0%) | $297,303 |
See Notes to Schedule of Investments
Schedule of Investments New York Intermediate Municipal Fund Inc. 10/31/15
PRINCIPAL |
VALUE† |
||||||||
Municipal Notes (162.3%) | |||||||||
American Samoa (0.7%) | |||||||||
$500 | American Samoa Econ. Dev. Au. Gen. Rev. Ref., Ser. 2015-A, 6.25%, due 9/1/29 | $501 | |||||||
California (5.7%) | |||||||||
3,115 | Corona-Norca Unified Sch. Dist. G.O. Cap. Appreciation (Election 2006), Ser. 2009-C, (AGM Insured), | 2,479 | |||||||
0.00%, due 8/1/24 | |||||||||
1,470 | Pico Rivera Pub. Fin. Au. Lease Rev., Ser. 2009, 4.75%, due 9/1/25 | 1,637 | |||||||
4,116 | |||||||||
Georgia (0.7%) | |||||||||
500 | Greene Co. Dev. Au. Swr. Fac. Rev., Ser. 2015, 6.13%, due 1/1/25 | 501 | #ß | ||||||
Guam (3.3%) | |||||||||
1,135 | Guam Gov’t Hotel Occupancy Tax Rev., Ser. 2011-A, 5.50%, due 11/1/19 | 1,292 | |||||||
1,000 | Guam Gov’t Waterworks Au. Wtr. & Wastewater Sys. Rev., Ser. 2010, 5.25%, due 7/1/25 | 1,103 | |||||||
2,395 | |||||||||
Illinois (2.7%) | |||||||||
315 | Bartlett Sr. Lien Tax Increment Ref. Rev. (Quarry Redev. Proj.), Ser. 2007, 5.35%, due 1/1/17 | 319 | |||||||
1,000 | Chicago G.O. Ref., Ser. 2003-B, 5.00%, due 1/1/23 | 1,013 | |||||||
600 | Illinois St. G.O., Ser. 2013, 5.00%, due 7/1/23 | 656 | |||||||
1,988 | |||||||||
Louisiana (0.8%) | |||||||||
500 | Louisiana St. Pub. Facs. Au. Rev. (Southwest Louisiana Charter Academy Foundation Proj.), | 567 | ß | ||||||
Ser. 2013-A, 7.63%, due 12/15/28 | |||||||||
Nevada (1.5%) | |||||||||
1,000 | Las Vegas Redev. Agcy. Tax Increment Rev., Ser. 2009-A, 7.50%, due 6/15/23 | 1,124 | |||||||
New York (137.9%) | |||||||||
380 | Albany Cap. Res. Corp. Ref. Rev. (Albany College of Pharmacy & Hlth. Sciences), | 432 | ß | ||||||
Ser. 2014-A, 5.00%, due 12/1/27 | |||||||||
375 | Albany Cap. Res. Corp. Ref. Rev. (Albany College of Pharmacy & Hlth. Sciences), | 425 | ß | ||||||
Ser. 2014-A, 5.00%, due 12/1/28 | |||||||||
270 | Albany Cap. Res. Corp. Ref. Rev. (Albany College of Pharmacy & Hlth. Sciences), | 304 | ß | ||||||
Ser. 2014-A, 5.00%, due 12/1/29 | |||||||||
500 | Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Orchard Park), Ser. 2015, 5.00%, due 11/15/27 | 540 | ß | ||||||
500 | Buffalo & Erie Co. Ind. Land Dev. Corp. Rev. Ref. (Orchard Park), Ser. 2015, 5.00%, due 11/15/28 | 536 | ß | ||||||
270 | Build NYC Res. Corp. Ref. Rev. (City Univ. - Queens College), Ser. 2014-A, 5.00%, due 6/1/26 | 322 | ß | ||||||
225 | Build NYC Res. Corp. Ref. Rev. (City Univ. - Queens College), Ser. 2014-A, 5.00%, due 6/1/29 | 261 | ß | ||||||
250 | Build NYC Res. Corp. Ref. Rev. (Methodist Hosp. Proj.), Ser. 2014, 5.00%, due 7/1/22 | 285 | ß | ||||||
500 | Build NYC Res. Corp. Ref. Rev. (Methodist Hosp. Proj.), Ser. 2014, 5.00%, due 7/1/29 | 560 | ß | ||||||
155 | Build NYC Res. Corp. Ref. Rev. (Packer Collegiate Institute Proj.), Ser. 2015, 5.00%, due 6/1/26 | 183 | ß | ||||||
125 | Build NYC Res. Corp. Ref. Rev. (Packer Collegiate Institute Proj.), Ser. 2015, 5.00%, due 6/1/27 | 146 | ß | ||||||
195 | Build NYC Res. Corp. Ref. Rev. (Packer Collegiate Institute Proj.), Ser. 2015, 5.00%, due 6/1/28 | 226 | ß | ||||||
220 | Build NYC Res. Corp. Ref. Rev. (Packer Collegiate Institute Proj.), Ser. 2015, 5.00%, due 6/1/29 | 253 | ß | ||||||
325 | Build NYC Res. Corp. Ref. Rev. (Packer Collegiate Institute Proj.), Ser. 2015, 5.00%, due 6/1/30 | 371 | ß | ||||||
565 | Build NYC Res. Corp. Rev., Ser. 2014, 5.00%, due 11/1/24 | 615 | ß | ||||||
515 | Build NYC Res. Corp. Rev. (Int’l Leadership Charter Sch. Proj.), Ser. 2013, 5.00%, due 7/1/23 | 505 | ß | ||||||
500 | Build NYC Res. Corp. Rev. (South Bronx Charter Sch. Int’l Cultures), Ser. 2013-A, 3.88%, due 4/15/23 | 491 | ß | ||||||
225 | Build NYC Res. Corp. Solid Waste Disp. Ref. Rev. (Pratt Paper, Inc. Proj.), Ser. 2014, 3.75%, due 1/1/20 | 233 | ñß | ||||||
200 | Build NYC Res. Corp. Solid Waste Disp. Ref. Rev. (Pratt Paper, Inc. Proj.), Ser. 2014, 4.50%, due 1/1/25 | 214 | ñß | ||||||
500 | Cattaraugus Co. IDA Civic Fac. Rev. (St. Bonaventure Univ. Proj.), Ser. 2006-A, 5.00%, due 5/1/23 | 508 | ß |
See Notes to Schedule of Investments
Schedule of Investments New York Intermediate Municipal Fund Inc.
(cont’d)
PRINCIPAL AMOUNT (000’s omitted) |
VALUE† (000’s omitted)z |
||||||||
$1,000 | Dutchess Co. Local Dev. Corp. Rev. (Marist College Proj.), Ser. 2012-A, 5.00%, due 7/1/21 | $1,176 | ß | ||||||
1,050 | Erie Co. IDA Sch. Fac. Rev. (Buffalo City Sch. Dist.), Ser. 2009-A, 5.25%, due 5/1/25 | 1,201 | |||||||
1,270 | Geneva Dev. Corp. Rev. (Hobart & William Smith College Proj.), Ser. 2012, 5.00%, due 9/1/21 | 1,493 | ß | ||||||
1,500 | Hempstead Town Local Dev. Corp. Rev. (Molloy College Proj.), Ser. 2009, 5.75%, due 7/1/23 | 1,694 | ß | ||||||
580 | Islip, G.O., Ser. 2012, 3.00%, due 8/1/25 | 607 | |||||||
755 | Jefferson Co. IDA Solid Waste Disp. Rev. (Green Bond), Ser. 2014, 4.75%, due 1/1/20 | 745 | ñß | ||||||
1,050 | Long Island Pwr. Au. Elec. Sys. Gen. Rev., Ser. 2006-E, (BHAC Insured), 5.00%, due 12/1/21 | 1,102 | |||||||
300 | Monroe Co. Ind. Dev. Corp. Rev. (Monroe Comm. College), Ser. 2014, (AGM Insured), | 338 | ß | ||||||
5.00%, due 1/15/29 | |||||||||
500 | Monroe Co. Ind. Dev. Corp. Rev. (Nazareth College of Rochester Proj.), Ser. 2013-A, | 554 | ß | ||||||
5.00%, due 10/1/24 | |||||||||
500 | Monroe Co. Ind. Dev. Corp. Rev. (Nazareth College of Rochester Proj.), Ser. 2013-A, | 554 | ß | ||||||
5.00%, due 10/1/25 | |||||||||
250 | Monroe Co. Ind. Dev. Corp. Rev. (Nazareth College of Rochester Proj.), Ser. 2013-A, | 260 | ß | ||||||
4.00%, due 10/1/26 | |||||||||
1,120 | Monroe Co. Ind. Dev. Corp. Rev. (St. John Fisher College), Ser. 2012-A, 5.00%, due 6/1/23 | 1,255 | ß | ||||||
210 | Monroe Co. Ind. Dev. Corp. Rev. (St. John Fisher College), Ser. 2012-A, 5.00%, due 6/1/25 | 233 | ß | ||||||
180 | Monroe Co. Newpower Corp. Pwr. Fac. Rev., Ser. 2003, 5.10%, due 1/1/16 | 180 | |||||||
1,265 | Montgomery Co. Cap. Res. Corp. Lease Ref. Rev. (HFM Boces Proj.), Ser. 2014, (MAC Insured), | 1,493 | |||||||
5.00%, due 9/1/27 | |||||||||
2,000 | Nassau Co. G.O. (Gen. Imp. Bonds), Ser. 2013-B, 5.00%, due 4/1/28 | 2,272 | |||||||
500 | Nassau Co. Local Econ. Assist. Corp. Rev. (Catholic Hlth. Svcs. of Long Island Obligated Group Proj.), | 582 | ß | ||||||
Ser. 2014, 5.00%, due 7/1/23 | |||||||||
1,000 | Nassau Co. Local Econ. Assist. Corp. Rev. (Catholic Hlth. Svcs. of Long Island Obligated Group Proj.), | 1,131 | ß | ||||||
Ser. 2014, 5.00%, due 7/1/27 | |||||||||
950 | New York City G.O., Ser. 2009-B, 5.00%, due 8/1/22 | 1,082 | |||||||
1,000 | New York City G.O., Ser. 2009-E, 5.00%, due 8/1/21 | 1,140 | |||||||
490 | New York City IDA Civic Fac. Rev. (Vaughn College Aeronautics & Technology), Ser. 2006-A, | 502 | ß | ||||||
5.00%, due 12/1/28 | |||||||||
100 | New York City IDA Civic Fac. Rev. (Vaughn College Aeronautics & Technology), Ser. 2006-B, | 102 | ß | ||||||
5.25%, due 12/1/36 | |||||||||
2,000 | New York City IDA Spec. Fac. Rev. (Term. One Group Assoc. Proj.), Ser. 2005, 5.50%, due 1/1/19 | 2,016 | µß | ||||||
155 | New York City Muni. Wtr. Fin. Au. Wtr. & Swr. Sys. Rev. (Second Gen.), Ser. 2010-DD-3B, | 155 | µ | ||||||
0.01%, due 6/15/43 | |||||||||
500 | New York Liberty Dev. Corp. Ref. Rev. (3 World Trade Ctr. Proj.), Ser. 2014, 5.38%, due 11/15/40 | 524 | ñß | ||||||
2,000 | New York Liberty Dev. Corp. Rev. (Goldman Sachs Headquarters), Ser. 2005, 5.25%, due 10/1/35 | 2,362 | ß | ||||||
660 | New York Liberty Dev. Corp. Rev. (Nat’l Sports Museum Proj.), Ser. 2006-A, 6.13%, due 2/15/19 | 0 | #‡ | ||||||
3,000 | New York St. Dorm. Au. Ref. Rev. (North Gen. Hosp. Proj.), Ser. 2003, 5.75%, due 2/15/17 | 3,012 | ß | ||||||
1,815 | New York St. Dorm. Au. Ref. Rev. Non St. Supported Debt (Pratt Institute), Ser. 2015-A, | 1,810 | ß | ||||||
3.00%, due 7/1/27 | |||||||||
250 | New York St. Dorm. Au. Rev. (Brookdale Hosp. Med. Ctr.), Ser. 1998-J, 5.20%, due 2/15/16 | 251 | ß | ||||||
410 | New York St. Dorm. Au. Rev. (City Univ. Sys. Proj.), Ser. 1995-A, 5.63%, due 7/1/16 | 425 | |||||||
780 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Culinary Institute of America), Ser. 2013, | 841 | ß | ||||||
4.63%, due 7/1/25 | |||||||||
500 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Manhattan Marymount College), Ser. 2009, | 550 | ß | ||||||
5.00%, due 7/1/24 | |||||||||
900 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Montefiore Med. Ctr.), Ser. 2008, | 962 | ß | ||||||
(FHA Insured), 5.00%, due 8/1/21 | |||||||||
1,595 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Mount Sinai Sch. of Medicine), Ser. 2009, | 1,832 | ß | ||||||
5.25%, due 7/1/24 Pre-Refunded 7/1/19 | |||||||||
2,000 | New York St. Dorm. Au. Rev. Non St. Supported Debt (North Shore-Long Island Jewish Oblig. Group), | 2,154 | ß | ||||||
Ser. 2011-A, 4.38%, due 5/1/26 | |||||||||
1,000 | New York St. Dorm. Au. Rev. Non St. Supported Debt (NYU Hosp. Ctr.), Ser. 2006-A, | 1,031 | ß | ||||||
5.00%, due 7/1/20 | |||||||||
745 | New York St. Dorm. Au. Rev. Non St. Supported Debt (NYU Hosp. Ctr.), Ser. 2007-B, | 794 | ß | ||||||
5.25%, due 7/1/24 Pre-Refunded 7/1/17 | |||||||||
1,375 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Rochester Institute of Technology), Ser. 2012, | 1,457 | ß | ||||||
4.00%, due 7/1/28 | |||||||||
2,000 | New York St. Dorm. Au. Rev. Non St. Supported Debt (St. John’s Univ.), Ser. 2007-C, | 2,287 | ß | ||||||
(National Public Finance Guarantee Corp. Insured), 5.25%, due 7/1/19 |
See Notes to Schedule of Investments
Schedule of Investments New York Intermediate Municipal Fund Inc.
(cont’d)
PRINCIPAL AMOUNT (000’s omitted) |
VALUE† (000’s omitted)z |
||||||||
$600 | New York St. Dorm. Au. Rev. Non St. Supported Debt (St. Joseph’s College), Ser. 2010, | $619 | ß | ||||||
5.25%, due 7/1/25 | |||||||||
460 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Touro College & Univ. Sys. Obligated Group), | 474 | ß | ||||||
Ser. 2014-A, 4.00%, due 1/1/26 | |||||||||
470 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Touro College & Univ. Sys. Obligated Group), | 481 | ß | ||||||
Ser. 2014-A, 4.00%, due 1/1/27 | |||||||||
200 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Touro College & Univ. Sys. Obligated Group), | 203 | ß | ||||||
Ser. 2014-A, 4.00%, due 1/1/28 | |||||||||
275 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Touro College & Univ. Sys. Obligated Group), | 280 | ß | ||||||
Ser. 2014-A, 4.13%, due 1/1/29 | |||||||||
1,350 | New York St. Dorm. Au. Rev. Non St. Supported Debt (Univ. Facs.), Ser. 2013-A, 5.00%, due 7/1/28 | 1,565 | |||||||
2,000 | New York St. Dorm. Au. Rev. St. Personal Income Tax Rev., Ser. 2012-A, 5.00%, due 12/15/26 | 2,381 | |||||||
1,500 | New York St. Env. Fac. Corp. Solid Waste Disp. Rev. (Waste Management, Inc. Proj.), Ser. 2004-A, | 1,535 | ß | ||||||
2.75%, due 7/1/17 | |||||||||
2,000 | New York St. Env. Facs. Corp. (St. Clean Wtr. & Drinking), Ser. 2012-A, 4.00%, due 6/15/26 | 2,222 | |||||||
1,615 | New York St. HFA Rev. (Affordable Hsg.), Ser. 2009-B, 4.50%, due 11/1/29 | 1,681 | |||||||
960 | New York St. HFA Rev. (Affordable Hsg.), Ser. 2012-F, (SONYMA Insured), 3.05%, due 11/1/27 | 965 | |||||||
500 | New York St. Mtge. Agcy. Homeowner Mtge. Ref. Rev., Ser. 2006-139, 0.02%, due 10/1/37 | 500 | µ | ||||||
1,045 | New York St. Mtge. Agcy. Homeowner Mtge. Ref. Rev., Ser. 2014-189, 3.45%, due 4/1/27 | 1,048 | |||||||
1,230 | New York St. Muni. Bond Bank Agcy., Subser. 2009-B1, 5.00%, due 12/15/23 | 1,423 | |||||||
1,295 | New York St. Muni. Bond Bank Agcy., Subser. 2009-B1, 5.00%, due 12/15/24 | 1,498 | |||||||
1,000 | New York St. Thruway Au. Second Gen. Hwy. & Bridge Trust Fund Bonds, Ser. 2007-B, | 1,082 | |||||||
5.00%, due 4/1/20 | |||||||||
1,090 | New York St. Thruway Au. Second Gen. Hwy. & Bridge Trust Fund Bonds, Ser. 2009-B, | 1,238 | |||||||
5.00%, due 4/1/19 | |||||||||
1,250 | New York St. Urban Dev. Corp. Ref. Rev., Ser. 2008-D, 5.25%, due 1/1/20 | 1,413 | |||||||
965 | New York St. Urban Dev. Corp. Rev. (St. Personal Income Tax), Ser. 2008-A1, 5.00%, due 12/15/23 | 1,051 | |||||||
785 | Newburgh, G.O., Ser. 2012-A, 5.00%, due 6/15/22 | 868 | |||||||
900 | Niagara Area Dev. Corp. Rev. (Covanta Energy Proj.), Ser. 2012, 4.00%, due 11/1/24 | 907 | ñß | ||||||
640 | Niagara Area Dev. Corp. Rev. (Niagara Univ. Proj.), Ser. 2012-A, 5.00%, due 5/1/25 | 710 | ß | ||||||
300 | Niagara Area Dev. Corp. Rev. (Niagara Univ. Proj.), Ser. 2012-A, 5.00%, due 5/1/26 | 331 | ß | ||||||
1,100 | Niagara Falls City Sch. Dist. Ref. Cert. Participation (High Sch. Fac.), Ser. 2015, (AGM Insured), | 1,186 | |||||||
4.00%, due 6/15/26 | |||||||||
1,010 | Onondaga Civic Dev. Corp. Ref. Rev., Ser. 2015, 5.00%, due 10/1/29 | 1,126 | ß | ||||||
500 | Onondaga Civic Dev. Corp. Rev. (St. Josephs Hosp. Hlth. Ctr. Proj.), Ser. 2014-A, 5.00%, due 7/1/25 | 538 | ß | ||||||
1,000 | Onondaga Co. Trust Cultural Res. Rev. (Syracuse Univ. Proj.), Ser. 2010-B, 5.00%, due 12/1/19 | 1,157 | ß | ||||||
1,500 | Oyster Bay, G.O., Ser. 2014, (AGM Insured), 3.25%, due 8/1/21 | 1,605 | |||||||
3,000 | Port Au. New York & New Jersey Cons. Bonds, Ser. 2012-175, 3.00%, due 12/1/27 | 3,050 | |||||||
750 | Rensselaer City Sch. Dist. Cert. Participation, Ser. 2006, (XLCA Insured), 5.00%, due 6/1/26 | 760 | |||||||
1,500 | Rockland Co. G.O. (Pub. Imp.), Ser. 2014-C, (AGM Insured), 4.00%, due 5/1/21 | 1,658 | |||||||
1,000 | Saratoga Co. IDA Civic Fac. Rev. (Saratoga Hosp. Proj.), Ser. 2007-B, 5.00%, due 12/1/22 | 1,083 | ß | ||||||
1,410 | St. Lawrence Co. IDA Civic Dev. Corp. Rev. (St. Lawrence Univ. Proj.), Ser. 2012, 5.00%, due 7/1/28 | 1,600 | ß | ||||||
1,980 | Suffolk Co. Judicial Facs. Agcy. Lease Rev. (H. Lee Dennison Bldg.), Ser. 2013, 5.00%, due 11/1/25 | 2,231 | |||||||
190 | Triborough Bridge & Tunnel Au. Oblig., Ser. 1998-A, (National Public Finance Guarantee Corp. | 199 | |||||||
Insured), 4.75%, due 1/1/24 | |||||||||
1,000 | Triborough Bridge & Tunnel Au. Rev., Subser. 2008-D, 5.00%, due 11/15/23 Pre-Refunded 11/15/18 | 1,124 | |||||||
765 | Triborough Bridge & Tunnel Au. Rev., Subser. 2008-D, 5.00%, due 11/15/23 | 855 | |||||||
305 | Ulster Co. Res. Rec. Agcy., Ser. 2002, (AMBAC Insured), 5.25%, due 3/1/16 | 306 | |||||||
1,405 | United Nations Dev. Corp. Rev., Ser. 2009-A, 5.00%, due 7/1/22 | 1,594 | |||||||
3,000 | Utility Debt Securitization Au. Rev., Ser. 2013-TE, 5.00%, due 12/15/28 | 3,582 | |||||||
1,000 | Westchester Co. Local Dev. Corp. Ref. Rev. (Wartburg Sr. Hsg. Proj.), Ser. 2015-A, 5.00%, due 6/1/30 | 1,004 | ñß | ||||||
1,350 | Westchester Co. Local Dev. Corp. Rev. (Kendal on Hudson Proj.), Ser. 2013, 5.00%, due 1/1/28 | 1,459 | ß | ||||||
100,161 |
See Notes to Schedule of Investments
Schedule of Investments New York Intermediate Municipal Fund Inc.
(cont’d)
PRINCIPAL AMOUNT (000’s omitted) |
VALUE† (000’s omitted)z |
||||||||
Ohio (0.6%) | |||||||||
$500 | Buckeye Tobacco Settlement Fin. Au. Asset-Backed Sr. Rev. (Turbo), Ser. 2007-A-2, 5.88%, due 6/1/47 | $428 | |||||||
Pennsylvania (3.0%) | |||||||||
2,000 | Pennsylvania St. Turnpike Commission Turnpike Rev. (Cap. Appreciation), Subser. 2010-B2, | 2,210 | b | ||||||
0.00%, due 12/1/34 | |||||||||
Puerto Rico (4.3%) | |||||||||
2,000 | Puerto Rico Commonwealth Ref. G.O. (Pub. Imp.), Ser. 2001-A, (National Public Finance Guarantee | 2,044 | |||||||
Corp. Insured), 5.50%, due 7/1/20 | |||||||||
1,060 | Puerto Rico Ind. Tourist Ed. Med. & Env. Ctrl. Fac. Rev. (Polytechnic Univ. of Puerto Rico Proj.), | 1,053 | ß | ||||||
Ser. 2002-A, (ACA Insured), 5.25%, due 8/1/16 | |||||||||
3,097 | |||||||||
Virgin Islands (1.1%) | |||||||||
250 | Virgin Islands Pub. Fin. Au. Rev., Ser. 2014-A, 5.00%, due 10/1/24 | 276 | |||||||
500 | Virgin Islands Pub. Fin. Au. Rev., Ser. 2014-A, 5.00%, due 10/1/29 | 541 | |||||||
817 | |||||||||
Total Municipal Notes (Cost $112,296) | 117,905 | ||||||||
UNITS | |||||||||
Liquidating Trust - Real Estate (2.4%) | |||||||||
600 | CMS Liquidating Trust (Cost $3,105) | 1,731 | #*^^ | ||||||
Total Investments (164.7%) (Cost $115,401) | 119,636 | ## | |||||||
Cash, receivables and other assets, less liabilities (1.8%) | 1,310 | ||||||||
Liquidation Value of Variable Rate Municipal Term Preferred Shares [(66.5%)] | (48,300 | ) | |||||||
Total Net Assets Applicable to Common Stockholders (100.0%) | $72,646 |
See Notes to Schedule of Investments
Notes to Schedule of Investments
† In accordance with Accounting Standards Codification (“ASC”) 820 “Fair Value Measurement” (“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 observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, amortized cost, etc.) |
● |
Level 3 – 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 and 3 inputs used by independent pricing services to value municipal securities and units 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, appraisals, bid offers 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, Management seeks to obtain quotations from brokers or dealers (generally considered Level 2 or Level 3 inputs depending on the number of quotes available). 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 in the good-faith belief that the resulting valuation will reflect the fair value of the security. Numerous factors may be considered when determining the fair value of a security based on Level 2 or Level 3 inputs, including available analyst, media or other reports, trading in futures or American Depositary Receipts (“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
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, 2015:
Asset Valuation Inputs | ||||||||
(000’s omitted) | Level 1 | Level 2 | Level 3§ | Total | ||||
California | ||||||||
Investments: | ||||||||
Municipal Notes^ | $— | $142,477 | $— | $142,477 | ||||
Total Investments | — | 142,477 | — | 142,477 | ||||
Intermediate | ||||||||
Investments: | ||||||||
Municipal Notes^ | — | 469,274 | — | 469,274 | ||||
Tax Exempt Preferred^ | — | 1,926 | — | 1,926 | ||||
Total Investments | — | 471,200 | — | 471,200 | ||||
New York | ||||||||
Investments: | ||||||||
Municipal Notes^ | — | 117,905 | — | 117,905 | ||||
Liquidating Trust—Real Estate | — | 1,731 | 1,731 | |||||
Total Investments | — | 117,905 | 1,731 | 119,636 |
^ The Schedule of Investments provides information on the state categorization for the portfolio.
§ The following is a reconciliation between the beginning and ending balances of investments in which unobservable inputs (Level 3) were used in determining value:
Beginning balance, as of 11/1/14 |
Accrued discounts/ (premiums) |
Realized gain/(loss) |
Change in unrealized appreciation/ (depreciation) |
Purchases | Sales | Transfers in to Level 3 |
Transfers out of Level 3 |
Balance as of 10/31/15 |
Net change in unrealized appreciation/ (depreciation) from investments still held as of 10/31/15 |
|||||||||||
(000’s omitted) Investments in Securities New York |
||||||||||||||||||||
Units | ||||||||||||||||||||
Liquidating | ||||||||||||||||||||
Trust— | ||||||||||||||||||||
Real Estate | $1,830 | $— | $— | $(99) | $— | $— | $— | $— | $1,731 | $(99) | ||||||||||
Total | $1,830 | $— | $— | $(99) | $— | $— | $— | $— | $1,731 | $(99) |
See Notes to Financial Statements
Notes to Schedule of Investments (cont’d)
The following table presents additional information about valuation techniques and inputs used for investments that are measured at fair value and categorized within Level 3 as of October 31, 2015.
Impact to | ||||||||||||||
valuation | ||||||||||||||
Weighted | from | |||||||||||||
Asset | Fair value | Valuation | Unobservable | Range | average | decrease | ||||||||
class | at 10/31/15 | techniques | input | per unit | per unit | in input | ||||||||
New York | Units | $1,731,600 | Income Approach | Appraised value | $2,750 - $3,050 | $2,900 | Decrease |
As of the year ended October 31, 2015, the Funds had no transfers between Levels 1, 2 or 3 based on the beginning of period market values as of October 31, 2014.
## At October 31, 2015, selected fund information on a U.S. federal income tax basis was as follows:
Net | ||||||||
Gross | Gross | Unrealized | ||||||
Unrealized | Unrealized | Appreciation | ||||||
(000’s omitted) | Cost | Appreciation | Depreciation | (Depreciation) | ||||
California | $133,412 | $9,238 | $173 | $9,065 | ||||
Intermediate | 432,247 | 42,310 | 3,357 | 38,953 | ||||
New York | 115,427 | 6,392 | 2,183 | 4,209 |
ß Security is guaranteed by the corporate or non-profit obligor.
ñ Securities were purchased under Rule 144A of the Securities Act of 1933, as amended (the “1933 Act”), or are otherwise restricted and, unless registered under the 1933 Act or exempted from registration, may only be sold to qualified institutional investors. These securities have been deemed by the investment manager to be liquid. At October 31, 2015, these securities amounted to approximately $4,487,000 or 5.3% of net assets applicable to common stockholders for California, approximately $28,119,000 or 9.5% of net assets applicable to common stockholders for Intermediate and approximately $3,627,000 or 5.0% of net assets applicable to common stockholders for New York.
Ø All or a portion of this security was purchased on a when-issued basis. At October 31, 2015, these securities amounted to approximately $254,000 or 0.1% of net assets applicable to common stockholders for Intermediate.
ØØ All or a portion of this security is segregated in connection with obligations for when-issued security purchase commitments.
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, 2015, and at their final maturities.
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.
See Notes to Financial Statements
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.
z A zero balance, if any, may reflect actual amounts rounding to less than $1,000.
* Security did not produce income during the last twelve months.
^^ Value of the security was determined using methods the Board has approved in the good-faith belief that the resulting valuation will reflect the fair value of the security.
‡ Security had an event of default.
Ñ These securities have been deemed by the investment manager to be illiquid. At October 31, 2015, these securities amounted to approximately $490,000 or 0.6% of net assets applicable to common stockholders for California and approximately $2,808,000 or 0.9% of net assets applicable to common stockholders for Intermediate.
# These securities have been deemed by the investment manager to be illiquid, and are restricted securities subject to restrictions on resale. Securities were purchased under Rule 144A of the 1933 Act or are otherwise restricted and, unless registered under the 1933 Act or exempted from registration, may only be sold to qualified institutional investors.
At October 31, 2015, these securities amounted to approximately $1,595,000 or 1.9% of net assets applicable to common stockholders for California, approximately $8,423,000 or 2.8% of net assets applicable to common stockholders for Intermediate and approximately $2,232,000 or 3.1% of net assets applicable to common stockholders for New York.
(000’s omitted) |
Restricted Security |
Acquisition |
Acquisition |
Acquisition |
Value as of |
Fair Value |
||||||
California | California Muni. Fin. Au. | |||||||||||
Charter Sch. Lease Rev. | ||||||||||||
(Sycamore Academy Proj.), | ||||||||||||
Ser. 2014, 5.63%, due | ||||||||||||
7/1/44 | 9/18/2014 | $982 | 1.2% | $994 | 1.2% | |||||||
Greene Co. Dev. Au. | ||||||||||||
Swr. Fac. Rev., Ser. 2015, | ||||||||||||
6.13%, due 1/1/25 | 7/31/2015 | 600 | 0.7% | 601 | 0.7% | |||||||
Intermediate | California Muni. Fin. Au. | |||||||||||
Charter Sch. Lease Rev. | ||||||||||||
(Sycamore Academy Proj.), | ||||||||||||
Ser. 2014, 5.00%, due | ||||||||||||
7/1/24 | 9/18/2014 | 806 | 0.3% | 811 | 0.3% |
See Notes to Financial Statements
Notes to Schedule of Investments (cont’d)
(000’s omitted) |
Restricted Security |
Acquisition |
Acquisition |
Acquisition |
Value as of |
Fair Value |
||||||
California Muni. Fin. Au. | ||||||||||||
Charter Sch. Lease Rev. | ||||||||||||
(Sycamore Academy Proj.), | ||||||||||||
Ser. 2014, 5.13%, due | ||||||||||||
7/1/29 | 9/18/2014 | 623 | 0.2% | 632 | 0.2% | |||||||
Greene Co. Dev. Au. | ||||||||||||
Swr. Fac. Rev., Ser. 2015, | ||||||||||||
6.13%, due 1/1/25 | 7/31/2015 | $1,100 | 0.4% | $1,101 | 0.4% | |||||||
Munimae TE Bond | ||||||||||||
Subsidiary LLC, Unsecured | ||||||||||||
Notes, 5.00%, due | ||||||||||||
4/30/28 | 1/31/2013 | 1,800 | 0.6% | 1,926 | 0.6% | |||||||
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% | 2,406 | 0.8% | |||||||
Winrock Town Ctr. Tax | ||||||||||||
Increment Dev. Dist. | ||||||||||||
Number 1 Tax Allocation | ||||||||||||
Sr. Lien Rev. (Gross | ||||||||||||
Receipts Tax Increment | ||||||||||||
Bond), Ser. 2015, 5.25%, | ||||||||||||
due 5/1/25 | 6/30/2015 | 500 | 0.2% | 510 | 0.2% | |||||||
Winrock Town Ctr. Tax | ||||||||||||
Increment Dev. Dist. | ||||||||||||
Number 1 Tax Allocation | ||||||||||||
Sr. Lien Rev. (Gross | ||||||||||||
Receipts Tax Increment | ||||||||||||
Bond), Ser. 2015, 5.75%, | ||||||||||||
due 5/1/30 | 6/30/2015 | 1,000 | 0.3% | 1,037 | 0.3% |
See Notes to Financial Statements
Notes to Schedule of Investments (cont’d)
(000’s omitted) |
Restricted Security |
Acquisition |
Acquisition |
Acquisition |
Value as of |
Fair Value |
||||||
New York | CMS Liquidating Trust | 11/21/2012 | $3,105 | 4.0% | $1,731 | 2.4% | ||||||
Greene Co. Dev. Au. | ||||||||||||
Swr. Fac. Rev., Ser. 2015, | ||||||||||||
6.13%, due 1/1/25 | 7/31/2015 | 500 | 0.7% | 501 | 0.7% | |||||||
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
Statements of Assets and Liabilities
Neuberger Berman
(000’s omitted except per share amounts)
CALIFORNIA | NEW YORK | ||||||||
INTERMEDIATE | INTERMEDIATE | INTERMEDIATE | |||||||
MUNICIPAL | MUNICIPAL | MUNICIPAL | |||||||
FUND INC. | FUND INC. | FUND INC. | |||||||
October 31, 2015 | October 31, 2015 | October 31, 2015 | |||||||
Assets | |||||||||
Investments in securities, at value* (Note A)— | |||||||||
see Schedule of Investments: | |||||||||
Unaffiliated issuers | $142,477 | $471,200 | $119,636 | ||||||
Cash |