Portfolio of Investments (Unaudited)
|
|||||
Nuveen Texas Quality Income Municipal Fund (NTX)
|
|||||
April 30, 2010
|
|||||
Principal
|
Optional Call
|
||||
Amount (000)
|
Description (1)
|
Provisions (2)
|
Ratings (3)
|
Value
|
|
Consumer Staples – 1.6% (1.1% of Total Investments)
|
|||||
$ 2,280
|
Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,
|
5/12 at 100.00
|
BBB
|
$ 2,238,002
|
|
Series 2002, 5.375%, 5/15/33
|
|||||
Education and Civic Organizations – 16.4% (11.2% of Total Investments)
|
|||||
1,000
|
Central Texas Higher Education Authority Inc., Texas, Student Loan Revenue Bonds, Auction
|
7/10 at 100.00
|
A2
|
954,559
|
|
Rate Coupon, 0.805%, 12/01/37 (4)
|
|||||
2,000
|
Laredo Community College District, Wells County, Texas, Combined Fee Revenue Bonds, Series
|
8/20 at 100.00
|
AAA
|
2,044,400
|
|
2010, 5.250%, 8/01/35 (WI/DD, Settling 5/04/10) – AGM Insured
|
|||||
Red River Education Finance Corporation, Texas, Revenue Bonds, Hockaday School, Series 2005:
|
|||||
1,170
|
5.000%, 5/15/27
|
5/15 at 100.00
|
AA
|
1,210,283
|
|
1,230
|
5.000%, 5/15/28
|
5/15 at 100.00
|
AA
|
1,268,634
|
|
1,290
|
5.000%, 5/15/29
|
5/15 at 100.00
|
AA
|
1,325,810
|
|
Texas Public Finance Authority, Revenue Bonds, Texas Southern University Financing System,
|
|||||
Series 2003:
|
|||||
1,710
|
5.000%, 5/01/18 – FGIC Insured
|
5/13 at 100.00
|
Ba1
|
1,596,388
|
|
1,795
|
5.000%, 5/01/19 – FGIC Insured
|
5/13 at 100.00
|
Ba1
|
1,652,746
|
|
1,885
|
5.000%, 5/01/20 – FGIC Insured
|
5/13 at 100.00
|
Ba1
|
1,715,614
|
|
1,665
|
Texas State University System, Financing Revenue Bonds, Series 2004, 5.000%, 3/15/24 –
|
9/14 at 100.00
|
AAA
|
1,750,448
|
|
AGM Insured
|
|||||
2,000
|
Texas State University System, Financing Revenue Refunding Bonds, Series 2002, 5.000%,
|
3/12 at 100.00
|
AAA
|
2,124,380
|
|
3/15/20 – AGM Insured
|
|||||
2,330
|
Universal City Education Facilities Corporation, Texas, Revenue Bonds, Wayland Baptist
|
3/11 at 102.00
|
A–
|
2,362,737
|
|
University Project, Series 2001, 5.625%, 3/01/26
|
|||||
5,000
|
University of North Texas, Financing System Revenue Bonds, Series 2001, 5.000%, 4/15/24 –
|
4/12 at 100.00
|
AAA
|
5,181,000
|
|
AGM Insured
|
|||||
23,075
|
Total Education and Civic Organizations
|
23,186,999
|
|||
Energy – 2.0% (1.3% of Total Investments)
|
|||||
3,000
|
Gulf Coast Waste Disposal Authority, Texas, Waste Disposal Revenue Bonds, Valero Energy
|
10/10 at 100.00
|
BBB
|
2,789,040
|
|
Corporation Project, Series 1998, 5.600%, 4/01/32 (Alternative Minimum Tax)
|
|||||
Health Care – 12.6% (8.6% of Total Investments)
|
|||||
Brazoria County Health Facilities Development Corporation, Texas, Revenue Bonds, Brazosport
|
|||||
Memorial Hospital, Series 2004:
|
|||||
1,745
|
5.250%, 7/01/20 – RAAI Insured
|
7/14 at 100.00
|
BBB–
|
1,646,285
|
|
1,835
|
5.250%, 7/01/21 – RAAI Insured
|
7/14 at 100.00
|
BBB–
|
1,709,835
|
|
2,650
|
Midland County Hospital District, Texas, Hospital Revenue Bonds, Series 1992, 0.000%, 6/01/11
|
No Opt. Call
|
BBB–
|
2,498,659
|
|
2,000
|
North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds, Baylor
|
5/11 at 100.00
|
Aa2
|
2,007,700
|
|
Healthcare System, Series 2001A, 5.125%, 5/15/29
|
|||||
Richardson Hospital Authority, Texas, Revenue Bonds, Richardson Regional Medical Center,
|
|||||
Series 2004:
|
|||||
2,000
|
5.875%, 12/01/24
|
12/13 at 100.00
|
Baa2
|
1,951,160
|
|
1,000
|
6.000%, 12/01/34
|
12/13 at 100.00
|
Baa2
|
954,280
|
|
2,500
|
Tarrant County Cultural & Educational Facilities Financing Corporation, Texas, Revenue Bonds,
|
11/17 at 100.00
|
AA–
|
2,506,175
|
|
Tarrant County Health Resources, Series 2007B, 5.000%, 11/15/42
|
|||||
2,000
|
Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding
|
1/19 at 100.00
|
AAA
|
2,225,160
|
|
Bonds, Christus Health, Series 2008, 6.500%, 7/01/37
|
|||||
700
|
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
|
7/17 at 100.00
|
Baa1
|
598,381
|
|
Hospital Regional Healthcare Center, Series 2007B, 5.000%, 7/01/37
|
|||||
2,000
|
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
|
7/17 at 100.00
|
Baa1
|
1,746,700
|
|
Hospital Regional Healthcare Center, Series 2007, 5.000%, 7/01/33
|
|||||
18,430
|
Total Health Care
|
17,844,335
|
Housing/Multifamily – 1.6% (1.1% of Total Investments)
|
|||||
Bexar County Housing Finance Corporation, Texas, Insured Multifamily Housing Revenue Bonds,
|
|||||
Waters at Northern Hills Apartments Project, Series 2001A:
|
|||||
2,000
|
6.000%, 8/01/31 – NPFG Insured
|
8/11 at 102.00
|
Baa1
|
1,616,620
|
|
750
|
6.050%, 8/01/36 – NPFG Insured
|
8/11 at 102.00
|
Baa1
|
595,853
|
|
2,750
|
Total Housing/Multifamily
|
2,212,473
|
|||
Housing/Single Family – 2.8% (1.9% of Total Investments)
|
|||||
1,461
|
El Paso Housing Finance Corporation, Texas, GNMA Collateralized Single Family Mortgage Revenue
|
4/11 at 106.75
|
AAA
|
1,541,469
|
|
Bonds, Series 2001A-3, 6.180%, 4/01/33
|
|||||
5
|
Galveston Property Finance Authority Inc., Texas, Single Family Mortgage Revenue Bonds, Series
|
9/10 at 100.00
|
Caa1
|
4,924
|
|
1991A, 8.500%, 9/01/11
|
|||||
2,445
|
Texas Department of Housing and Community Affairs, Single Family Mortgage Bonds, Series 2002B,
|
3/12 at 100.00
|
AAA
|
2,465,269
|
|
5.550%, 9/01/33 – NPFG Insured (Alternative Minimum Tax)
|
|||||
3,911
|
Total Housing/Single Family
|
4,011,662
|
|||
Long-Term Care – 0.9% (0.7% of Total Investments)
|
|||||
Bexar County, Texas, Health Facilities Development Corporation Revenue Bonds, Army Retirement
|
|||||
Residence, Series 2007:
|
|||||
1,000
|
5.000%, 7/01/27
|
7/17 at 100.00
|
BBB
|
892,660
|
|
600
|
5.000%, 7/01/37
|
7/17 at 100.00
|
BBB
|
512,898
|
|
1,600
|
Total Long-Term Care
|
1,405,558
|
|||
Materials – 4.3% (2.9% of Total Investments)
|
|||||
3,000
|
Cass County Industrial Development Corporation, Texas, Environmental Improvement Revenue
|
9/10 at 101.00
|
BBB
|
3,031,290
|
|
Bonds, International Paper Company, Series 2000A, 6.600%, 3/15/24 (Alternative Minimum Tax)
|
|||||
3,000
|
Guadalupe-Blanco River Authority, Texas, Sewage and Solid Waste Disposal Facility Bonds, E.I.
|
10/10 at 100.00
|
A
|
3,002,370
|
|
DuPont de Nemours and Company Project, Series 1996, 6.400%, 4/01/26 (Alternative Minimum Tax)
|
|||||
6,000
|
Total Materials
|
6,033,660
|
|||
Tax Obligation/General – 47.1% (32.0% of Total Investments)
|
|||||
1,260
|
Bexar County, Texas, Combined Tax and Revenue Certificates of Obligation, Series 2004,
|
6/14 at 100.00
|
Aaa
|
1,349,611
|
|
5.000%, 6/15/19
|
|||||
2,000
|
Borger Independent School District, Hutchison County, Texas, General Obligation Bonds, Series
|
2/16 at 100.00
|
AAA
|
2,079,820
|
|
2006, 5.000%, 2/15/36
|
|||||
400
|
Calallen Independent School District, Nueces County, Texas, General Obligation Bonds, School
|
2/18 at 100.00
|
AAA
|
417,404
|
|
Building Series 2008, 5.000%, 2/15/38
|
|||||
1,190
|
Canutillo Independent School District, El Paso County, Texas, General Obligation Bonds, Series
|
8/15 at 100.00
|
AAA
|
1,305,240
|
|
2006A, 5.000%, 8/15/22
|
|||||
325
|
Copperas Cove, Texas, Certificates of Obligation, Series 2003, 5.000%, 8/15/23 – NPFG Insured
|
8/12 at 100.00
|
AA–
|
341,660
|
|
2,305
|
Corpus Christi, Texas, Combination Tax and Municipal Hotel Occupancy Tax Revenue Certificates
|
9/12 at 100.00
|
AAA
|
2,474,095
|
|
of Obligation, Series 2002, 5.500%, 9/01/21 – AGM Insured
|
|||||
2,595
|
Denton County, Texas, Permanent Improvement General Obligation Bonds, Series 2005,
|
7/12 at 100.00
|
AAA
|
2,823,983
|
|
5.000%, 7/15/25
|
|||||
1,750
|
El Paso County, Texas, Certificates of Obligation, Series 2001, 5.000%, 2/15/21 – AGM Insured
|
No Opt. Call
|
AAA
|
1,991,920
|
|
Fort Bend County Municipal Utility District 25, Texas, General Obligation Bonds, Series 2005:
|
|||||
1,330
|
5.000%, 10/01/26 – FGIC Insured
|
10/12 at 100.00
|
A
|
1,338,978
|
|
1,320
|
5.000%, 10/01/27 – FGIC Insured
|
10/12 at 100.00
|
A
|
1,326,508
|
|
3,615
|
Frisco, Texas, General Obligation Bonds, Series 2006, 5.000%, 2/15/26 – FGIC Insured
|
2/16 at 100.00
|
Aa1
|
3,817,259
|
|
8,500
|
Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds,
|
8/18 at 22.64
|
AA–
|
1,188,215
|
|
Capital Appreciation Refunding Series 2009, 0.000%, 8/15/39
|
|||||
Houston Community College System, Texas, Limited Tax General Obligation Bonds, Series 2003:
|
|||||
2,500
|
5.000%, 2/15/20 – AMBAC Insured
|
2/13 at 100.00
|
AA+
|
2,709,175
|
|
2,235
|
5.000%, 2/15/21 – AMBAC Insured
|
2/13 at 100.00
|
AA+
|
2,404,681
|
|
5,000
|
Houston, Texas, General Obligation Bonds, Series 2005E, 5.000%, 3/01/23 – AMBAC Insured
|
3/15 at 100.00
|
AA
|
5,322,100
|
|
100
|
Judson Independent School District, Bexar County, Texas, General Obligation Refunding Bonds,
|
2/11 at 100.00
|
Aaa
|
103,006
|
|
Series 2002, 5.250%, 2/01/21
|
|||||
4,900
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/14 at 17.78
|
AAA
|
696,682
|
|
Bonds, Series 2006, 0.000%, 8/15/45
|
|||||
1,000
|
Leander Independent School District, Williamson and Travis Counties, Texas, General Obligation
|
8/17 at 33.01
|
AAA
|
230,910
|
|
Bonds, Series 2008, 0.000%, 8/15/36
|
5,220
|
Leander Independent School District, Williamson and Travis Counties, Texas, Unlimited Tax
|
8/10 at 49.80
|
AAA
|
2,562,863
|
|
School Building and Refunding Bonds, Series 2000, 0.000%, 8/15/21
|
|||||
365
|
Lone Star College System, Harris and Montgomery Counties, Texas, General Obligation Bonds,
|
8/19 at 100.00
|
AAA
|
387,396
|
|
Series 2009, 5.000%, 8/15/34
|
|||||
1,000
|
Mansfield Independent School District, Tarrant County, Texas, General Obligation Bonds, Series
|
2/14 at 100.00
|
AAA
|
1,113,680
|
|
2004, 5.000%, 2/15/20
|
|||||
1,010
|
Mercedes Independent School District, Hidalgo County, Texas, General Obligation Bonds, Series
|
8/15 at 100.00
|
AAA
|
1,088,265
|
|
2005, 5.000%, 8/15/23
|
|||||
5,515
|
Midlothian Independent School District, Ellis County, Texas, General Obligation Bonds, Series
|
2/15 at 100.00
|
Aaa
|
5,712,823
|
|
2005, 5.000%, 2/15/34
|
|||||
1,500
|
Montgomery County, Texas, General Obligation Bonds, Refunding Series 2008B, 5.250%, 3/01/32
|
3/19 at 100.00
|
AA
|
1,601,475
|
|
925
|
Northside Independent School District, Bexar County, Texas, Unlimited Tax School Building and
|
8/10 at 100.00
|
AAA
|
937,793
|
|
Refunding Bonds, Series 2000, 5.875%, 8/15/25
|
|||||
2,000
|
Plano Independent School District, Collin County, Texas, General Obligation Bonds, Series
|
2/18 at 100.00
|
Aaa
|
2,148,500
|
|
2008, 5.250%, 2/15/34
|
|||||
Roma Independent School District, Texas, General Obligation Bonds, Series 2005:
|
|||||
1,110
|
5.000%, 8/15/22
|
8/15 at 100.00
|
AAA
|
1,217,492
|
|
1,165
|
5.000%, 8/15/23 – AGM Insured
|
8/15 at 100.00
|
AAA
|
1,270,840
|
|
1,250
|
Southside Independent School District, Bexar County, Texas, General Obligation Bonds, Series
|
8/14 at 100.00
|
Aaa
|
1,360,538
|
|
2004A, 5.000%, 8/15/22
|
|||||
1,140
|
Sunnyvale School District, Texas, General Obligation Bonds, Series 2004, 5.250%, 2/15/25
|
2/14 at 100.00
|
AAA
|
1,237,960
|
|
5,000
|
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2006-A,
|
4/17 at 100.00
|
Aaa
|
5,270,100
|
|
5.000%, 4/01/33 (UB)
|
|||||
1,000
|
Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Series 2008-A,
|
4/18 at 100.00
|
Aaa
|
1,069,025
|
|
5.000%, 4/01/30 (UB)
|
|||||
1,110
|
Texas State, General Obligation Bonds, Water Utility, Series 2001, 5.250%, 8/01/23
|
8/11 at 100.00
|
Aaa
|
1,159,950
|
|
1,500
|
Texas, General Obligation Refunding Bonds, Public Finance Authority, Series 2002,
|
10/12 at 100.00
|
Aaa
|
1,624,080
|
|
5.000%, 10/01/18
|
|||||
3,025
|
Victoria Independent School District, Victoria County, Texas, General Obligation Bonds, Series
|
2/17 at 100.00
|
AAA
|
3,198,575
|
|
2007, 5.000%, 2/15/32
|
|||||
West Texas Independent School District, McLennan and Hill Counties, General Obligation
|
|||||
Refunding Bonds, Series 1998:
|
|||||
1,000
|
0.000%, 8/15/22
|
8/13 at 61.20
|
AAA
|
537,020
|
|
1,000
|
0.000%, 8/15/24
|
8/13 at 54.88
|
AAA
|
478,210
|
|
White Settlement Independent School District, Tarrant County, Texas, General Obligation Bonds,
|
|||||
Series 2006:
|
|||||
1,500
|
0.000%, 8/15/43
|
8/15 at 23.12
|
AAA
|
263,940
|
|
1,500
|
0.000%, 8/15/44
|
8/15 at 21.88
|
AAA
|
249,555
|
|
425
|
0.000%, 8/15/45
|
8/15 at 20.76
|
AAA
|
67,027
|
|
81,585
|
Total Tax Obligation/General
|
66,478,354
|
|||
Tax Obligation/Limited – 9.3% (6.3% of Total Investments)
|
|||||
7,940
|
Dallas Area Rapid Transit, Texas, Senior Lien Sales Tax Revenue Bonds, Series 2007, 5.000%,
|
12/16 at 100.00
|
AAA
|
8,274,036
|
|
12/01/36 – AMBAC Insured
|
|||||
Harris County-Houston Sports Authority, Texas, Junior Lien Revenue Bonds, Series 2001H:
|
|||||
1,720
|
0.000%, 11/15/34 – NPFG Insured
|
11/31 at 83.17
|
A
|
308,190
|
|
930
|
0.000%, 11/15/36 – NPFG Insured
|
11/31 at 73.51
|
A
|
144,857
|
|
3,265
|
0.000%, 11/15/38 – NPFG Insured
|
11/31 at 64.91
|
A
|
442,048
|
|
Harris County-Houston Sports Authority, Texas, Senior Lien Revenue Bonds, Series 2001G:
|
|||||
2,250
|
5.250%, 11/15/22 – NPFG Insured
|
11/11 at 100.00
|
A
|
2,253,690
|
|
2,475
|
0.000%, 11/15/41 – NPFG Insured
|
11/31 at 53.78
|
A
|
267,473
|
|
1,470
|
Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment
|
No Opt. Call
|
A2
|
382,435
|
|
Project, Series 2001B, 0.000%, 9/01/32 – AMBAC Insured
|
|||||
1,000
|
Uptown Development Authority, Houston, Texas, Tax Increment Revenue Bonds, Infrastructure
|
9/19 at 100.00
|
BBB+
|
1,007,180
|
|
Improvement Facilities, Series 2009, 5.500%, 9/01/29
|
|||||
21,050
|
Total Tax Obligation/Limited
|
13,079,909
|
|||
Transportation – 10.1% (6.9% of Total Investments)
|
|||||
1,000
|
Austin, Texas, Airport System Prior Lien Revenue Bonds, Series 2003, 5.250%, 11/15/16 –
|
11/13 at 100.00
|
A
|
1,096,880
|
|
NPFG Insured
|
Central Texas Regional Mobility Authority, Senior Lien Revenue Bonds, Series 2010:
|
|||||
2,945
|
0.000%, 1/01/36
|
No Opt. Call
|
BBB–
|
450,438
|
|
2,205
|
0.000%, 1/01/37
|
No Opt. Call
|
BBB–
|
312,669
|
|
2,000
|
0.000%, 1/01/38
|
No Opt. Call
|
BBB–
|
262,860
|
|
3,260
|
Central Texas Regional Mobility Authority, Travis and Williamson Counties, Toll Road Revenue
|
1/15 at 100.00
|
A
|
3,251,231
|
|
Bonds, Series 2005, 5.000%, 1/01/22 – FGIC Insured
|
|||||
2,600
|
Dallas-Ft. Worth International Airport Facility Improvement Corporation, Texas, Revenue Bonds,
|
5/10 at 101.00
|
CCC+
|
2,044,380
|
|
American Airlines Inc., Series 1999, 6.375%, 5/01/35 (Alternative Minimum Tax)
|
|||||
2,000
|
Houston, Texas, Subordinate Lien Airport System Revenue Bonds, Series 2000A, 5.625%, 7/01/30 –
|
7/10 at 100.00
|
AAA
|
2,001,000
|
|
AGM Insured (Alternative Minimum Tax)
|
|||||
2,500
|
North Texas Thruway Authority, First Tier System Revenue Refunding Bonds, Capital Appreciation
|
No Opt. Call
|
AAA
|
577,600
|
|
Series 2008, 0.000%, 1/01/36 – AGC Insured
|
|||||
395
|
North Texas Thruway Authority, First Tier System Revenue Refunding Bonds, Series 2008A,
|
1/18 at 100.00
|
A2
|
414,418
|
|
5.750%, 1/01/40
|
|||||
North Texas Thruway Authority, First Tier System Revenue Refunding Bonds, Series 2008B:
|
|||||
325
|
5.750%, 1/01/40
|
1/18 at 100.00
|
A2
|
340,977
|
|
225
|
5.750%, 1/01/40 – NPFG Insured
|
1/18 at 100.00
|
A
|
236,061
|
|
950
|
North Texas Thruway Authority, Second Tier System Revenue Refunding Bonds, Series 2008,
|
1/18 at 100.00
|
A3
|
997,320
|
|
5.750%, 1/01/38
|
|||||
North Texas Tollway Authority, System Revenue Bonds, First Tier Series 2009A:
|
|||||
100
|
6.100%, 1/01/28
|
1/19 at 100.00
|
A2
|
110,017
|
|
2,000
|
6.250%, 1/01/39
|
1/19 at 100.00
|
A2
|
2,215,500
|
|
22,505
|
Total Transportation
|
14,311,351
|
|||
U.S. Guaranteed – 14.3% (9.7% of Total Investments) (5)
|
|||||
295
|
Coppell Independent School District, Dallas County, Texas, Unlimited Tax School Building and
|
No Opt. Call
|
Aa3 (5)
|
271,486
|
|
Refunding Bonds, Series 1992, 0.000%, 8/15/14 – NPFG Insured (ETM)
|
|||||
950
|
Copperas Cove, Texas, Certificates of Obligation, Series 2003, 5.000%, 8/15/23 (Pre-refunded
|
8/12 at 100.00
|
A (5)
|
1,039,300
|
|
8/15/12) – NPFG Insured
|
|||||
Gregg County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Good
|
|||||
Shepherd Medical Center Project, Series 2000:
|
|||||
2,000
|
6.875%, 10/01/20 (Pre-refunded 10/01/10) – RAAI Insured
|
10/10 at 101.00
|
N/R (5)
|
2,071,220
|
|
3,250
|
6.375%, 10/01/25 (Pre-refunded 10/01/10) – RAAI Insured
|
10/10 at 101.00
|
N/R (5)
|
3,359,005
|
|
500
|
Harris County Health Facilities Development Corporation, Texas, Revenue Bonds, St. Luke’s
|
8/11 at 100.00
|
AAA
|
532,215
|
|
Episcopal Hospital, Series 2001A, 5.500%, 2/15/21 (Pre-refunded 8/15/11)
|
|||||
1,000
|
North Central Texas Health Facilities Development Corporation, Hospital Revenue Bonds,
|
No Opt. Call
|
Aaa
|
1,209,160
|
|
Presbyterian Healthcare System, Series 1996B, 5.750%, 6/01/26 – NPFG Insured (ETM)
|
|||||
2,500
|
Retama Development Corporation, Texas, Special Facilities Revenue Bonds, Retama Park
|
12/17 at 100.00
|
AAA
|
3,445,950
|
|
Racetrack, Series 1993, 8.750%, 12/15/18 (Pre-refunded 12/15/17)
|
|||||
1,750
|
San Antonio, Texas, Electric and Gas System Revenue Refunding Bonds, Series 2002, 5.375%,
|
2/12 at 100.00
|
AAA
|
1,890,490
|
|
2/01/20 (Pre-refunded 2/01/12)
|
|||||
1,440
|
South Texas Community College District, General Obligation Bonds, Series 2002, 5.500%, 8/15/17
|
8/12 at 100.00
|
Aa2 (5)
|
1,590,278
|
|
(Pre-refunded 8/15/12) – AMBAC Insured
|
|||||
3,500
|
Tarrant County Health Facilities Development Corporation, Texas, Hospital Revenue Bonds,
|
11/10 at 101.00
|
N/R (5)
|
3,652,390
|
|
Adventist Health System – Sunbelt Obligated Group, Series 2000, 6.625%, 11/15/20
|
|||||
(Pre-refunded 11/15/10)
|
|||||
1,000
|
Tyler Health Facilities Development Corporation, Texas, Hospital Revenue Bonds, Mother Frances
|
7/12 at 100.00
|
Baa1 (5)
|
1,099,400
|
|
Hospital Regional Healthcare Center, Series 2001, 6.000%, 7/01/31 (Pre-refunded 7/01/12)
|
|||||
18,185
|
Total U.S. Guaranteed
|
20,160,894
|
|||
Utilities – 12.3% (8.3% of Total Investments)
|
|||||
2,560
|
Brazos River Authority, Texas, Pollution Control Revenue Refunding Bonds, TXU Electric
|
4/13 at 101.00
|
Caa3
|
1,531,674
|
|
Company, Series 1999C, 7.700%, 3/01/32 (Alternative Minimum Tax)
|
|||||
2,400
|
Brazos River Authority, Texas, Revenue Bonds, Reliant Energy Inc., Series 1999A,
|
10/10 at 100.50
|
BBB–
|
2,402,928
|
|
5.375%, 4/01/19
|
|||||
5,000
|
Brownsville, Texas, Utility System Priority Revenue Bonds, Series 2005A, 5.000%, 9/01/27 –
|
9/15 at 100.00
|
Aa3
|
5,162,600
|
|
AMBAC Insured
|
|||||
2,000
|
Bryan, Brazos County, Texas, Electric System Revenue Bonds, Series 2009, 5.000%, 7/01/34
|
7/17 at 100.00
|
A+
|
2,032,380
|
|
2,000
|
Harris County Health Facilities Development Corporation, Texas, Thermal Utility Revenue Bonds,
|
8/10 at 100.00
|
Aa3
|
2,004,040
|
|
TECO Project, Series 2000, 5.750%, 2/15/15 – AMBAC Insured (Alternative Minimum Tax)
|
|||||
2,000
|
Lower Colorado River Authority, Texas, Revenue Bonds, Series 2008, 5.750%, 5/15/37
|
5/15 at 100.00
|
A1
|
2,099,640
|
1,000
|
Matagorda County Navigation District 1, Texas, Revenue Bonds, Reliant Energy Inc., Series
|
5/10 at 100.50
|
BBB–
|
986,090
|
|
1999B, 5.950%, 5/01/30 (Alternative Minimum Tax)
|
|||||
1,000
|
Matagorda County Navigation District Number One, Texas, Pollution Control Revenue Refunding
|
7/19 at 102.00
|
BBB
|
1,086,920
|
|
Bonds, Central Power and Light Company Project, Series 2009A, 6.300%, 11/01/29
|
|||||
17,960
|
Total Utilities
|
17,306,272
|
|||
Water and Sewer – 11.8% (8.0% of Total Investments)
|
|||||
Coastal Water Authority, Texas, Contract Revenue Bonds, Houston Water Projects, Series 2004:
|
|||||
1,005
|
5.000%, 12/15/20 – FGIC Insured
|
12/14 at 100.00
|
A
|
1,052,275
|
|
1,030
|
5.000%, 12/15/21 – FGIC Insured
|
12/14 at 100.00
|
A
|
1,073,538
|
|
1,000
|
El Paso, Texas, Water and Sewer Revenue Bonds, Refunding Series 2008C, 5.375%, 3/01/29
|
3/18 at 100.00
|
AA
|
1,079,090
|
|
3,000
|
Houston, Texas, First Lien Combined Utility System Revenue Bonds, Series 2004A, 5.250%,
|
5/14 at 100.00
|
AA
|
3,223,620
|
|
5/15/23 – FGIC Insured
|
|||||
3,500
|
Houston, Texas, Junior Lien Water and Sewerage System Revenue Refunding Bonds, Series 2001A,
|
12/11 at 100.00
|
AAA
|
3,739,995
|
|
5.500%, 12/01/17 – AGM Insured
|
|||||
Irving, Texas, Subordinate Lien Waterworks and Sewerage Revenue Bonds, Series 2004:
|
|||||
1,680
|
5.000%, 8/15/22 – AMBAC Insured
|
8/14 at 100.00
|
Aa1
|
1,783,454
|
|
1,760
|
5.000%, 8/15/23 – AMBAC Insured
|
8/14 at 100.00
|
Aa1
|
1,858,366
|
|
1,260
|
Rowlett, Rockwall and Dallas Counties, Texas, Waterworks and Sewerage System Revenue Bonds,
|
3/14 at 100.00
|
AA–
|
1,314,583
|
|
Series 2004A, 5.000%, 3/01/22 – NPFG Insured
|
|||||
1,500
|
Texas Water Development Board, Senior Lien State Revolving Fund Revenue Bonds, Series 1999A,
|
7/10 at 100.00
|
AAA
|
1,506,182
|
|
5.500%, 7/15/21
|
|||||
15,735
|
Total Water and Sewer
|
16,631,103
|
|||
$ 238,066
|
Total Investments (cost $202,619,193) – 147.1%
|
207,689,612
|
|||
Floating Rate Obligations – (2.8)%
|
(3,960,000)
|
||||
Other Assets Less Liabilities – 1.8%
|
2,487,834
|
||||
Preferred Shares, at Liquidation Value – (46.1)% (6)
|
(65,050,000)
|
||||
Net Assets Applicable to Common Shares – 100%
|
$ 141,167,446
|
Level 1
|
Level 2
|
Level 3
|
Total
|
|
Investments:
|
||||
Municipal Bonds
|
$ —
|
$206,735,053
|
$954,559
|
$207,689,612
|
Level 3
|
|
Municipal Bonds
|
|
Balance at the beginning of period
|
$950,615
|
Gains (losses):
|
|
Net realized gains (losses)
|
—
|
Net change in unrealized appreciation (depreciation)
|
3,944
|
Net purchases at cost (sales at proceeds)
|
—
|
Net discounts (premiums)
|
—
|
Net transfers in to (out of) at end of period fair value
|
—
|
Balance at the end of period
|
$954,559
|
Gross unrealized:
|
|
Appreciation
|
$ 9,044,145
|
Depreciation
|
(3,988,860)
|
Net unrealized appreciation (depreciation) of investments
|
$ 5,055,285
|
(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 higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service,
|
|
Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be
|
||
below investment grade.
|
||
(4)
|
Investment valued at fair value using methods determined in good faith by, or at the discretion of, the
|
|
Board of Trustees. For fair value measurement disclosure purposes, investment categorized as Level 3.
|
||
(5)
|
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. Such investments are normally considered to
|
||
be equivalent to AAA rated securities.
|
||
(6)
|
Preferred Shares, at Liquidation Value as a percentage of Total Investments is 31.3%.
|
|
N/R
|
Not rated.
|
|
WI/DD
|
Purchased on a when-issued or delayed delivery basis.
|
|
(ETM)
|
Escrowed to maturity.
|
|
(UB)
|
Underlying bond of an inverse floating rate trust reflected as a financing transaction.
|
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.
|