Portfolio of Investments (Unaudited)
|
|||||
Nuveen Massachusetts Premium Income Municipal Fund (NMT)
|
|||||
February 29, 2012
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
Consumer Discretionary – 1.5% (1.0% of Total Investments)
|
|||||
$ 1,425
|
Boston Industrial Development Financing Authority, Massachusetts, Senior Revenue Bonds,
|
9/12 at 102.00
|
Caa3
|
$ 1,064,076
|
|
Crosstown Center Project, Series 2002, 6.500%, 9/01/35 (Alternative Minimum Tax)
|
|||||
Education and Civic Organizations – 33.9% (22.6% of Total Investments)
|
|||||
1,000
|
Massachusetts Development Finance Agency Revenue Bonds, Lesley University Issue Series B-1 and
|
7/21 at 100.00
|
AA–
|
1,117,630
|
|
B-2, 5.250%, 7/01/33 – AGM Insured
|
|||||
375
|
Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Series 2009V-1,
|
10/19 at 100.00
|
A
|
418,410
|
|
5.000%, 10/01/29
|
|||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, Emerson College, Series 2010A,
|
1/20 at 100.00
|
BBB+
|
1,018,430
|
|
5.000%, 1/01/40
|
|||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, Sterling and Francine Clark Art
|
7/21 at 100.00
|
AA
|
1,101,400
|
|
Institute, Series 2011A, 5.000%, 7/01/41
|
|||||
2,000
|
Massachusetts Development Finance Agency, Revenue Bonds, The Broad Institute, Series 2011A,
|
4/21 at 100.00
|
AA–
|
2,202,480
|
|
5.250%, 4/01/37
|
|||||
1,045
|
Massachusetts Development Finance Agency, Revenue Bonds, Worcester Polytechnic Institute,
|
9/17 at 100.00
|
A+
|
1,102,778
|
|
Series 2007, 5.000%, 9/01/37 – NPFG Insured
|
|||||
705
|
Massachusetts Development Finance Authority, Revenue Bonds, Curry College, Series 2000A,
|
9/12 at 100.00
|
BBB
|
706,544
|
|
6.000%, 3/01/20 – ACA Insured
|
|||||
1,745
|
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy
|
7/15 at 100.00
|
AA–
|
1,855,022
|
|
and Allied Health Sciences, Series 2005D, 5.000%, 7/01/27 – AGC Insured
|
|||||
1,500
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation,
|
No Opt. Call
|
A
|
1,859,190
|
|
Series 2002A, 5.750%, 1/01/42 – AMBAC Insured
|
|||||
4,850
|
Massachusetts Development Finance Authority, Revenue Bonds, WGBH Educational Foundation,
|
1/18 at 100.00
|
AA–
|
5,103,946
|
|
Series 2008A, 5.000%, 1/01/42 – AGC Insured
|
|||||
1,090
|
Massachusetts Development Finance Authority, Revenue Refunding Bonds, Boston University,
|
No Opt. Call
|
A2
|
1,407,637
|
|
Series 1999P, 6.000%, 5/15/29
|
|||||
1,000
|
Massachusetts Educational Financing Authority, Educational Loan Revenue, Serie 2011J, 5.625%,
|
7/21 at 100.00
|
AA
|
1,065,700
|
|
7/01/33 (Alternative Minimum Tax)
|
|||||
2,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Boston College,
|
6/13 at 100.00
|
AA–
|
2,112,800
|
|
Series 2003N, 5.250%, 6/01/18
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Springfield College,
|
10/19 at 100.00
|
Baa1
|
1,040,000
|
|
Series 2010, 5.500%, 10/15/31
|
|||||
250
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Tufts University,
|
8/18 at 100.00
|
Aa2
|
293,498
|
|
Series 2008O, 5.375%, 8/15/38
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Wellesley College,
|
7/13 at 100.00
|
Aaa
|
524,230
|
|
Series 2003H, 5.000%, 7/01/26
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Wheaton College
|
No Opt. Call
|
A2
|
537,340
|
|
Issues, Series 2010F, 5.000%, 1/01/41
|
|||||
555
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Williams College,
|
7/13 at 100.00
|
AAA
|
586,629
|
|
Series 2003H, 5.000%, 7/01/21
|
|||||
500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Worcester State
|
11/12 at 100.00
|
A
|
504,035
|
|
College, Series 2002, 5.000%, 11/01/32 – AMBAC Insured
|
|||||
305
|
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities
|
8/12 at 100.00
|
BBB–
|
305,192
|
|
Financing Authority, Higher Education Revenue Bonds, Ana G. Mendez University System,
|
|||||
Series 1999, 5.375%, 2/01/19
|
|||||
22,920
|
Total Education and Civic Organizations
|
24,862,891
|
|||
Health Care – 25.6% (17.1% of Total Investments)
|
|||||
1,000
|
Massachusetts Development Finance Agency, Revenue Bonds, Partners HealthCare System, Series
|
7/20 at 100.00
|
AA
|
1,101,470
|
|
2011K-6, 5.375%, 7/01/41
|
|||||
1,250
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Berkshire Health
|
10/13 at 100.00
|
BBB+
|
1,263,875
|
|
System, Series 2001E, 6.250%, 10/01/31
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Cape Cod Health Care
|
5/12 at 101.00
|
BBB+
|
1,010,440
|
|
Inc., Series 2001C, 5.250%, 11/15/31 – RAAI Insured
|
|||||
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc.,
|
|||||
Series B1 Capital Asset Program Converted June 13,2008:
|
|||||
2,300
|
5.375%, 2/01/26 – NPFG Insured
|
8/18 at 100.00
|
A–
|
2,600,104
|
|
770
|
5.375%, 2/01/28 – NPFG Insured
|
8/18 at 100.00
|
A–
|
861,060
|
|
1,500
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caregroup Inc.,
|
8/18 at 100.00
|
A–
|
1,686,615
|
|
Series B2, Capital Asset Program, Converted June 9, 2009, 5.375%, 2/01/27 – NPFG Insured
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Children’s Hospital,
|
12/19 at 100.00
|
AA
|
1,107,890
|
|
Series 2009M, 5.500%, 12/01/39
|
|||||
935
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Emerson Hospital,
|
8/15 at 100.00
|
N/R
|
834,244
|
|
Series 2005E, 5.000%, 8/15/35 – RAAI Insured
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Clinic Medical
|
8/15 at 100.00
|
A+
|
1,063,380
|
|
Center, Series 2005C, 5.000%, 8/15/21 – FGIC Insured
|
|||||
2,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Lahey Medical
|
8/17 at 100.00
|
A+
|
2,139,240
|
|
Center, Series 2007D, 5.250%, 8/15/28
|
|||||
585
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milford Regional
|
7/17 at 100.00
|
BBB–
|
572,165
|
|
Medical Center, Series 2007E, 5.000%, 7/15/32
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Milton Hospital
|
7/15 at 100.00
|
BB–
|
944,790
|
|
Project, Series 2005D, 5.250%, 7/01/30
|
|||||
1,445
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, UMass Memorial
|
7/15 at 100.00
|
A–
|
1,460,158
|
|
Health Care, Series 2005D, 5.000%, 7/01/33
|
|||||
2,000
|
Massachusetts State, Health and Educational Facilities Authority, Partners HealthCare System
|
7/17 at 100.00
|
AA
|
2,138,320
|
|
Inc., Series 2007G, 5.000%, 7/01/32
|
|||||
17,785
|
Total Health Care
|
18,783,751
|
|||
Housing/Multifamily – 6.3% (4.2% of Total Investments)
|
|||||
1,300
|
Massachusetts Development Finance Authority, Multifamily Housing Revenue Bonds, Emerson Manor
|
7/17 at 100.00
|
BB
|
1,324,167
|
|
Project, Series 2007, 4.800%, 7/20/48
|
|||||
1,715
|
Massachusetts Development Financing Authority, Assisted Living Revenue Bonds, Prospect House
|
6/12 at 100.00
|
N/R
|
1,653,209
|
|
Apartments, Series 1999, 7.000%, 12/01/31
|
|||||
500
|
Massachusetts Housing Finance Agency, Housing Revenue Bonds, Series 2003S, 5.050%, 12/01/23
|
6/13 at 100.00
|
AA–
|
504,410
|
|
(Alternative Minimum Tax)
|
|||||
95
|
Massachusetts Housing Finance Agency, Rental Housing Mortgage Revenue Bonds, Series 1999D,
|
7/12 at 100.00
|
N/R
|
95,677
|
|
5.500%, 7/01/13 – AMBAC Insured (Alternative Minimum Tax)
|
|||||
1,000
|
Somerville Housing Authority, Massachusetts, GNMA Collateralized Mortgage Revenue Bonds,
|
5/12 at 103.00
|
N/R
|
1,033,810
|
|
Clarendon Hill Towers, Series 2002, 5.200%, 11/20/22
|
|||||
4,610
|
Total Housing/Multifamily
|
4,611,273
|
|||
Housing/Single Family – 3.7% (2.4% of Total Investments)
|
|||||
1,500
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2006-126,
|
6/16 at 100.00
|
AA
|
1,494,045
|
|
4.625%, 6/01/32 (Alternative Minimum Tax)
|
|||||
985
|
Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2008, Trust
|
No Opt. Call
|
AA
|
1,199,977
|
|
3145, 14.354%, 6/01/16 (IF)
|
|||||
2,485
|
Total Housing/Single Family
|
2,694,022
|
|||
Industrials – 0.9% (0.6% of Total Investments)
|
|||||
220
|
Massachusetts Development Finance Agency, Pioneer Valley Resource Recovery Revenue Bonds,
|
No Opt. Call
|
N/R
|
216,014
|
|
Eco/Springfield LLC, Series 2006, 5.875%, 7/01/14 (Alternative Minimum Tax)
|
|||||
400
|
Massachusetts Development Finance Agency, Solid Waste Disposal Revenue Bonds, Waste Management
|
No Opt. Call
|
BBB
|
432,488
|
|
Inc., Series 2003, 5.450%, 6/01/14
|
|||||
620
|
Total Industrials
|
648,502
|
|||
Long-Term Care – 6.8% (4.5% of Total Investments)
|
|||||
1,270
|
Boston, Massachusetts, FHA-Insured Mortgage Revenue Bonds, Deutsches Altenheim Inc., Series
|
4/12 at 102.00
|
AAA
|
1,297,800
|
|
1998A, 6.125%, 10/01/31
|
|||||
185
|
Massachusetts Development Finance Agency, Revenue Bonds, Carleton-Willard Village, Series
|
12/19 at 100.00
|
A–
|
199,931
|
|
2010, 5.625%, 12/01/30
|
|||||
1,685
|
Massachusetts Development Finance Agency, Revenue Bonds, Orchard Cove, Series 2007,
|
10/12 at 102.00
|
N/R
|
1,533,417
|
|
5.250%, 10/01/26
|
|||||
1,500
|
Massachusetts Development Finance Authority, GNMA Collateralized Assisted Living Facility
|
3/12 at 105.00
|
AAA
|
1,586,340
|
|
Revenue Bonds, Arbors at Chicopee, Series 2001A, 6.250%, 9/20/42 (Alternative Minimum Tax)
|
|||||
400
|
Massachusetts Industrial Finance Agency, First Mortgage Revenue Bonds, Berkshire Retirement
|
7/12 at 100.00
|
BBB
|
400,408
|
|
Community, Series 1994B, 4.750%, 7/01/17
|
|||||
5,040
|
Total Long-Term Care
|
5,017,896
|
|||
Tax Obligation/General – 20.1% (13.4% of Total Investments)
|
|||||
500
|
Ashland, Massachusetts, General Obligation Bonds, Series 2004, 5.250%, 5/15/23 – AMBAC Insured
|
5/15 at 100.00
|
Aa2
|
544,140
|
|
300
|
Boston, Massachusetts, General Obligation Bonds, Series 2005A, 5.000%, 1/01/17
|
1/15 at 100.00
|
Aaa
|
337,143
|
|
1,000
|
Fall River, Massachusetts, General Obligation Bonds, Series 2003, 5.000%, 2/01/21 – AGM Insured
|
2/13 at 101.00
|
AA–
|
1,033,700
|
|
1,000
|
Hampden-Wilbraham Regional School District, Hampden County, Massachusetts, General Obligation
|
2/21 at 100.00
|
Aa3
|
1,104,390
|
|
Bonds, Series 2011, 5.000%, 2/15/41
|
|||||
1,250
|
Hudson, Massachusetts, General Obligation Bonds, Municipal Purpose Loan Series 2011,
|
2/20 at 100.00
|
AA
|
1,419,700
|
|
5.000%, 2/15/32
|
|||||
1,205
|
Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds,
|
No Opt. Call
|
AA+
|
1,583,237
|
|
Series 1991A, 7.000%, 3/01/21
|
|||||
1,275
|
Massachusetts, General Obligation Bonds, Consolidated Loan, Series 2001D, 6.000%, 11/01/13 –
|
No Opt. Call
|
AA+
|
1,397,821
|
|
NPFG Insured
|
|||||
980
|
Monson, Massachusetts, General Obligation Bonds, Series 2002, 5.250%, 5/15/22 – AMBAC Insured
|
5/12 at 101.00
|
A1
|
998,091
|
|
1,260
|
Norwell, Massachusetts, General Obligation Bonds, Series 2003, 5.000%, 11/15/20 – FGIC Insured
|
No Opt. Call
|
AAA
|
1,591,002
|
|
1,000
|
Puerto Rico, General Obligation and Public Improvement Bonds, Series 2002A, 5.500%, 7/01/29 –
|
No Opt. Call
|
Baa1
|
1,139,600
|
|
FGIC Insured
|
|||||
2,000
|
Quincy, Massachusetts, General Obligation Bonds, Series 2011, 5.250%, 12/01/38
|
12/20 at 100.00
|
Aa2
|
2,270,760
|
|
1,220
|
Worcester, Massachusetts, General Obligation Bonds, Series 2005A, 5.000%, 7/01/19 –
|
7/15 at 100.00
|
A1
|
1,344,891
|
|
FGIC Insured
|
|||||
12,990
|
Total Tax Obligation/General
|
14,764,475
|
|||
Tax Obligation/Limited – 12.3% (8.2% of Total Investments)
|
|||||
210
|
Martha’s Vineyard Land Bank, Massachusetts, Revenue Bonds, Series 2004, 5.000%, 5/01/26 –
|
5/14 at 100.00
|
A–
|
224,816
|
|
AMBAC Insured
|
|||||
975
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2006C,
|
7/18 at 100.00
|
AAA
|
1,118,267
|
|
5.000%, 7/01/26
|
|||||
385
|
Massachusetts Bay Transportation Authority, Senior Lien Sales Tax Revenue Refunding Bonds,
|
No Opt. Call
|
AAA
|
496,785
|
|
Series 2004C, 5.250%, 7/01/21
|
|||||
1,200
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2008A, 5.000%, 5/01/33 –
|
5/18 at 100.00
|
Aa2
|
1,307,076
|
|
AGC Insured
|
|||||
1,000
|
Massachusetts College Building Authority, Project Revenue Refunding Bonds, Series 2003B,
|
No Opt. Call
|
Aa2
|
1,279,710
|
|
5.375%, 5/01/23 – SYNCORA GTY Insured
|
|||||
570
|
Massachusetts College Building Authority, Revenue Bonds, Refunding Series 2012B, 5.000%,
|
5/22 at 100.00
|
AA
|
644,442
|
|
5/01/37 (WI/DD, Settling 3/01/12)
|
|||||
1,300
|
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2005A,
|
8/15 at 100.00
|
AA+
|
1,483,859
|
|
5.000%, 8/15/20 – AGM Insured (UB)
|
|||||
1,000
|
Massachusetts School Building Authority, Dedicated Sales Tax Revenue Bonds, Series 2011B,
|
10/21 at 100.00
|
AA+
|
1,124,710
|
|
5.000%, 10/15/41
|
|||||
540
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2005, 5.000%,
|
No Opt. Call
|
A1
|
637,438
|
|
1/01/20 – FGIC Insured
|
|||||
240
|
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A,
|
No Opt. Call
|
BBB+
|
32,935
|
|
0.000%, 7/01/43 – AMBAC Insured
|
|||||
1,650
|
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series
|
No Opt. Call
|
A+
|
379,038
|
|
2010C, 0.000%, 8/01/38
|
|||||
235
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
|
No Opt. Call
|
A3
|
270,673
|
|
5.500%, 7/01/19 – NPFG Insured
|
|||||
9,305
|
Total Tax Obligation/Limited
|
8,999,749
|
|||
Transportation – 11.4% (7.6% of Total Investments)
|
|||||
500
|
Massachusetts Port Authority, Airport System Revenue Bonds, Series 2010A, 5.000%, 7/01/30
|
7/20 at 100.00
|
AA–
|
564,030
|
|
2,000
|
Massachusetts Port Authority, Revenue Bonds, Series 2003A, 5.000%, 7/01/33 – NPFG Insured
|
7/13 at 100.00
|
AA–
|
2,088,460
|
|
1,000
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, BOSFUEL Corporation, Series
|
7/17 at 100.00
|
A2
|
1,027,020
|
|
2007, 5.000%, 7/01/32 – FGIC Insured (Alternative Minimum Tax)
|
|||||
225
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, Delta Air Lines Inc., Series
|
7/12 at 100.00
|
N/R
|
185,301
|
|
2001A, 5.000%, 1/01/27 – AMBAC Insured (Alternative Minimum Tax)
|
|||||
4,000
|
Massachusetts Port Authority, Special Facilities Revenue Bonds, US Airways Group Inc., Series
|
9/12 at 100.00
|
BBB
|
3,999,560
|
|
1996A, 5.750%, 9/01/16 – NPFG Insured (Alternative Minimum Tax)
|
|||||
470
|
Metropolitan Boston Transit Parking Corporation, Massachusetts, Systemwide Parking Revenue
|
7/21 at 100.00
|
A+
|
503,840
|
|
Bonds, Senior Lien Series 2011, 5.000%, 7/01/41
|
|||||
8,195
|
Total Transportation
|
8,368,211
|
|||
U.S. Guaranteed – 14.2% (9.5% of Total Investments) (4)
|
|||||
650
|
Boston, Massachusetts, General Obligation Bonds, Series 2005A, 5.000%, 1/01/17
|
1/15 at 100.00
|
N/R (4)
|
735,007
|
|
(Pre-refunded 1/01/15)
|
|||||
1,115
|
Massachusetts Bay Transportation Authority, General Obligation Transportation System Bonds,
|
3/17 at 100.00
|
N/R (4)
|
1,306,669
|
|
Series 1991A, 7.000%, 3/01/21 (Pre-refunded 3/01/17)
|
|||||
25
|
Massachusetts Bay Transportation Authority, Sales Tax Revenue Bonds, Senior Lien Series 2006C,
|
7/18 at 100.00
|
AAA
|
31,205
|
|
5.000%, 7/01/26 (Pre-refunded 7/01/18)
|
|||||
550
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2004A, 5.000%, 5/01/19
|
5/14 at 100.00
|
Aa2 (4)
|
604,940
|
|
(Pre-refunded 5/01/14) – NPFG Insured
|
|||||
325
|
Massachusetts College Building Authority, Project Revenue Bonds, Series 2006A, 5.000%, 5/01/31
|
5/16 at 100.00
|
Aa2 (4)
|
383,715
|
|
(Pre-refunded 5/01/16) – AMBAC Insured
|
|||||
1,000
|
Massachusetts Development Finance Authority, Revenue Bonds, Massachusetts College of Pharmacy
|
7/13 at 101.00
|
A (4)
|
1,082,370
|
|
and Allied Health Sciences, Series 2003C, 5.750%, 7/01/33 (Pre-refunded 7/01/13)
|
|||||
750
|
Massachusetts Development Finance Authority, Revenue Bonds, Milton Academy, Series 2003A,
|
9/13 at 100.00
|
AA– (4)
|
802,380
|
|
5.000%, 9/01/19 (Pre-refunded 9/01/13)
|
|||||
410
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, CareGroup Inc.,
|
7/21 at 100.00
|
BBB (4)
|
501,385
|
|
Series 1998A, 5.000%, 7/01/25 (Pre-refunded 7/01/21) – NPFG Insured
|
|||||
1,000
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, Caritas Christi
|
7/12 at 101.00
|
N/R (4)
|
1,030,110
|
|
Obligated Group, Series 2002B, 6.250%, 7/01/22 (Pre-refunded 7/01/12)
|
|||||
600
|
Massachusetts Health and Educational Facilities Authority, Revenue Bonds, New England Medical
|
5/12 at 100.00
|
N/R (4)
|
606,432
|
|
Center Hospitals, Series 2002H, 5.375%, 5/15/19 (Pre-refunded 5/15/12) – FGIC Insured
|
|||||
295
|
Massachusetts Port Authority, Revenue Bonds, Series 1982, 13.000%, 7/01/13 (ETM)
|
5/12 at 100.00
|
AAA
|
325,028
|
|
1,500
|
Massachusetts State, Special Obligation Dedicated Tax Revenue Bonds, Series 2004, 5.250%,
|
1/14 at 100.00
|
A1 (4)
|
1,635,615
|
|
1/01/25 (Pre-refunded 1/01/14) – FGIC Insured
|
|||||
1,065
|
Puerto Rico, Highway Revenue Bonds, Highway and Transportation Authority, Series 2003AA,
|
No Opt. Call
|
A3 (4)
|
1,372,806
|
|
5.500%, 7/01/19 – NPFG Insured (ETM)
|
|||||
9,285
|
Total U.S. Guaranteed
|
10,417,662
|
|||
Utilities – 2.7% (1.8% of Total Investments)
|
|||||
1,000
|
Massachusetts Development Finance Agency, Resource Recovery Revenue Bonds, SEMass System,
|
1/13 at 100.00
|
BBB
|
1,012,460
|
|
Series 2001A, 5.625%, 1/01/16 – NPFG Insured
|
|||||
1,000
|
Massachusetts Industrial Finance Agency, Resource Recovery Revenue Refunding Bonds, Ogden
|
6/12 at 100.00
|
A–
|
1,003,700
|
|
Haverhill Project, Series 1998A, 5.600%, 12/01/19 (Alternative Minimum Tax)
|
|||||
2,000
|
Total Utilities
|
2,016,160
|
|||
Water and Sewer – 10.8% (7.1% of Total Investments)
|
|||||
500
|
Boston Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Senior Lien
|
11/19 at 100.00
|
AA+
|
580,510
|
|
Refunding Series 2010A, 5.000%, 11/01/30
|
|||||
2,000
|
Boston Water and Sewerage Commission, Massachusetts, General Revenue Bonds, Senior Series
|
11/14 at 100.00
|
AA+
|
2,224,720
|
|
2004A, 5.000%, 11/01/25
|
|||||
60
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2003-9,
|
8/13 at 100.00
|
AAA
|
63,625
|
|
5.000%, 8/01/22
|
|||||
285
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2004-10,
|
8/14 at 100.00
|
AAA
|
311,602
|
|
5.000%, 8/01/26
|
|||||
750
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2005-11,
|
8/15 at 100.00
|
AAA
|
819,128
|
|
4.500%, 8/01/29
|
|||||
1,000
|
Massachusetts Water Pollution Abatement Trust, Pooled Loan Program Bonds, Series 2006-12,
|
8/16 at 100.00
|
AAA
|
1,060,150
|
|
4.375%, 8/01/31 (UB)
|
|||||
500
|
Massachusetts Water Pollution Abatement Trust, Revenue Bonds, MWRA Loan Program, Series 2002A,
|
8/12 at 100.00
|
AAA
|
510,220
|
|
5.250%, 8/01/20
|
|||||
1,500
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2005A, 5.000%, 8/01/28 –
|
8/17 at 100.00
|
AA+
|
1,685,385
|
|
NPFG Insured
|
|||||
625
|
Massachusetts Water Resources Authority, General Revenue Bonds, Series 2006A, 4.000%, 8/01/46
|
8/16 at 100.00
|
AA+
|
622,430
|
|
7,220
|
Total Water and Sewer
|
7,877,770
|
|||
$ 103,880
|
Total Investments (cost $103,853,522) – 150.2%
|
110,126,438
|
|||
Floating Rate Obligations – (2.0)%
|
(1,435,000)
|
||||
MuniFund Term Preferred Shares, at Liquidation Value – (50.0)% (5)
|
(36,645,000)
|
||||
Other Assets Less Liabilities – 1.8%
|
1,269,726
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 73,316,164
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|||||||||||||
Investments:
|
||||||||||||||||
Municipal Bonds
|
$ | — | $ | 110,126,438 | $ | — | $ | 110,126,438 |
Gross unrealized appreciation and gross unrealized depreciation of investments at February 29, 2012,
|
||||
were as follows:
|
||||
Gross unrealized:
|
||||
Appreciation
|
$ | 7,063,035 | ||
Depreciation
|
(745,263 | ) | ||
Net unrealized appreciation (depreciation) of investments
|
$ | 6,317,772 |
(1)
|
All percentages shown in the Portfolio of Investments are based on net assets applicable to Common shares
|
|
unless otherwise noted.
|
||
(2)
|
Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption.
|
|
There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities
|
||
may be subject to periodic principal paydowns.
|
||
(3)
|
Ratings: Using the highest of Standard & Poor’s Group (“Standard & Poor’s”), Moody’s Investors Service, Inc.
|
|
(“Moody’s”) or Fitch, Inc. (“Fitch”) rating. Ratings below BBB by Standard & Poor’s, Baa by Moody’s or BBB
|
||
by Fitch are considered to be below investment grade. Holdings designated N/R are not rated by any of
|
||
these national rating agencies.
|
||
(4)
|
Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities,
|
|
which ensure the timely payment of principal and interest. Certain bonds backed by U.S. Government or
|
||
agency securities are regarded as having an implied rating equal to the rating of such securities.
|
||
(5)
|
MuniFund Term Preferred Shares, at Liquidation Value as a percentage of Total Investments is 33.3%.
|
|
N/R
|
Not rated.
|
|
WI/DD
|
Purchased on a when-issued or delayed delivery basis.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(IF)
|
Inverse floating rate investment.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
a.
|
The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
|
b.
|
There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
|