Unassociated Document



 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY
 
Investment Company Act file number 811-6265
 
Nuveen Pennsylvania Investment Quality Municipal Fund
(Exact name of registrant as specified in charter)
 
Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)
 

Kevin J. McCarthy
Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)
 
Registrant's telephone number, including area code:         312-917-7700        
 
Date of fiscal year end:            4/30          
 
Date of reporting period:         7/31/10         
 
Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.
 
A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
 
 
 
Item 1. Schedule of Investments
 

           
   
Portfolio of Investments (Unaudited)
      
   
   Nuveen Pennsylvania Investment Quality Municipal Fund (NQP)
      
   
   July 31, 2010
      
Principal
    
Optional Call
    
Amount (000)
  
Description (1)
Provisions (2)
Ratings (3)
Value
   
Consumer Staples – 0.4% (0.3% of Total Investments)
      
$      1,000 
  
Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, 
No Opt. Call 
AA– 
$      1,051,780 
   
Procter & Gamble Paper Project, Series 2001, 5.375%, 3/01/31 (Alternative Minimum Tax) 
      
   
Education and Civic Organizations – 28.6% (18.2% of Total Investments)
      
2,000 
  
Allegheny County Higher Education Building Authority, Pennsylvania, College Revenue Bonds, 
9/10 at 100.00 
BBB 
2,002,160 
   
Chatham College, Series 1998A, 5.250%, 9/01/18 
      
200 
  
Allegheny County Higher Education Building Authority, Pennsylvania, College Revenue Refunding 
No Opt. Call 
Baa3 
209,136 
   
Bonds, Robert Morris College, Series 1998A, 6.000%, 5/01/28 
      
3,000 
  
Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Carnegie 
3/12 at 100.00 
AA– 
3,086,550 
   
Mellon University, Series 2002, 5.125%, 3/01/32 
      
1,235 
  
Allegheny County Higher Education Building Authority, Pennsylvania, Revenue Bonds, Robert 
2/16 at 100.00 
Baa3 
1,162,407 
   
Morris University, Series 2006A, 4.750%, 2/15/26 
      
2,000 
  
Chester County Industrial Development Authority, Pennsylvania, Educational Facilities Revenue 
1/12 at 100.00 
A 
2,057,940 
   
Bonds, Westtown School, Series 2002, 5.000%, 1/01/26 – AMBAC Insured 
      
3,000 
  
Delaware County Authority, Pennsylvania, Revenue Bonds, Haverford College, Series 2000, 
11/10 at 101.00 
AA 
3,062,070 
   
5.750%, 11/15/29 
      
   
Delaware County Authority, Pennsylvania, Revenue Bonds, Villanova University, Series 2006: 
      
1,710 
  
5.000%, 8/01/23 – AMBAC Insured 
8/16 at 100.00 
A1 
1,827,067 
840 
  
5.000%, 8/01/24 – AMBAC Insured 
8/16 at 100.00 
A1 
892,492 
   
Erie Higher Education Building Authority, Pennsylvania, College Revenue Bonds, Gannon 
      
   
University, Series 2007-GG3: 
      
790 
  
5.000%, 5/01/32 – RAAI Insured 
5/17 at 100.00 
N/R 
730,750 
250 
  
5.000%, 5/01/35 – RAAI Insured 
5/17 at 100.00 
N/R 
227,530 
   
Indiana County Industrial Development Authority, Pennsylvania, Revenue Bonds, Student 
      
   
Cooperative Association Inc./Indiana University of Pennsylvania – Student Union Project, 
      
   
Series 1999B: 
      
815 
  
0.000%, 11/01/15 – AMBAC Insured 
No Opt. Call 
N/R 
665,888 
815 
  
0.000%, 11/01/16 – AMBAC Insured 
No Opt. Call 
N/R 
627,819 
815 
  
0.000%, 11/01/17 – AMBAC Insured 
No Opt. Call 
N/R 
588,927 
815 
  
0.000%, 11/01/18 – AMBAC Insured 
No Opt. Call 
N/R 
549,669 
815 
  
0.000%, 11/01/19 – AMBAC Insured 
No Opt. Call 
N/R 
514,950 
1,515 
  
Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Arcadia 
4/16 at 100.00 
BBB+ 
1,324,277 
   
University, Series 2006, 4.500%, 4/01/30 – RAAI Insured 
      
900 
  
Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Arcadia 
4/20 at 100.00 
BBB+ 
918,423 
   
University, Series 2010, 5.625%, 4/01/40 
      
355 
  
New Wilmington, Pennsylvania, Revenue, Westminster College, Series 2007G, 5.125%, 5/01/33 – 
5/17 at 100.00 
N/R 
339,582 
   
RAAI Insured 
      
8,000 
  
Pennsylvania Higher Education Assistance Agency, Capital Acquisition Revenue Refunding Bonds, 
11/11 at 100.00 
A 
8,021,520 
   
Series 2001, 5.000%, 12/15/30 – NPFG Insured 
      
5,000 
  
Pennsylvania Higher Educational Facilities Authority, General Revenue Bonds, State System of 
6/12 at 100.00 
Aa2 
5,295,200 
   
Higher Education, Series 2002W, 5.000%, 6/15/19 – AMBAC Insured 
      
4,600 
  
Pennsylvania Higher Educational Facilities Authority, General Revenue Bonds, State System of 
6/18 at 100.00 
Aa2 
4,831,794 
   
Higher Education, Series 2008AH, 5.000%, 6/15/33 
      
1,435 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Allegheny College, Series 
5/16 at 100.00 
A– 
1,406,142 
   
2006, 4.750%, 5/01/31 
      
2,650 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Drexel University, Series 
11/17 at 100.00 
A+ 
2,726,903 
   
2007A, 5.000%, 5/01/37 – NPFG Insured 
      
5,000 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Moravian College, Series 
7/11 at 100.00 
N/R 
4,971,800 
   
2001, 5.375%, 7/01/31 – RAAI Insured 
      
3,870 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Temple University, First 
4/16 at 100.00 
Aa3 
4,187,727 
   
Series of 2006, 5.000%, 4/01/21 – NPFG Insured 
      
320 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson 
1/13 at 100.00 
A1 
332,013 
   
University, Series 2002, 5.000%, 1/01/20 
      
1,000 
  
Pennsylvania HIgher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson 
3/20 at 100.00 
AA– 
1,035,000 
   
University, Series 2010, 5.000%, 3/01/40 
      
2,000 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of 
7/15 at 100.00 
AA+ 
2,065,940 
   
Pennsylvania, Series 2005C, 5.000%, 7/15/38 
      
2,945 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Ursinus College, Series 
7/13 at 100.00 
A– 
3,036,590 
   
2003, 5.375%, 1/01/20 – RAAI Insured 
      
785 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, York College Project, 
11/15 at 100.00 
A 
813,142 
   
Series 2005EE1, 5.250%, 11/01/27 – SYNCORA GTY Insured 
      
6,500 
  
Pennsylvania State University, General Revenue Bonds, Series 2005, 5.000%, 9/01/29 (UB) 
9/15 at 100.00 
Aa1 
6,991,855 
600 
  
Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, MaST Charter 
8/20 at 100.00 
BBB+ 
609,012 
   
School Project, Series 2010, 6.000%, 8/01/35 
      
1,665 
  
Union County, Higher Education Facilities Financing Authority, Pennsylvania, Revenue Bonds, 
4/13 at 100.00 
Aa2 
1,838,127 
   
Bucknell University, Series 2002A, 5.250%, 4/01/18 
      
68,240 
  
Total Education and Civic Organizations 
    
68,950,402 
   
Health Care – 14.4% (9.2% of Total Investments)
      
   
Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Ohio Valley 
      
   
General Hospital, Series 2005A: 
      
1,150 
  
5.000%, 4/01/25 
4/15 at 100.00 
Baa3 
1,047,662 
1,555 
  
5.125%, 4/01/35 
4/15 at 100.00 
Baa3 
1,332,822 
1,300 
  
Erie County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Saint Vincent Health 
7/20 at 100.00 
Baa2 
1,321,983 
   
Center Project, Series 2010A, 7.000%, 7/01/27 
      
1,115 
  
Erie County Hospital Authority, Pennsylvania, Revenue Bonds, Hamot Health Foundation, Series 
11/12 at 100.00 
Baa1 
1,220,568 
   
2002, 5.250%, 11/01/15 – AMBAC Insured 
      
280 
  
Erie County Hospital Authority, Pennsylvania, Revenue Bonds, Hamot Health Foundation, Series 
11/17 at 100.00 
BBB+ 
258,840 
   
2007, 5.000%, 11/01/37 – CIFG Insured 
      
835 
  
Franklin County Industrial Development Authority, Pennsylvania, Revenue Bonds, Chambersburg 
No Opt. Call 
A2 
837,188 
   
Hospital Project, Series 2010, 5.375%, 7/01/42 
      
1,890 
  
Lancaster County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, The Lancaster 
3/17 at 100.00 
AA– 
1,965,468 
   
General Hospital Project, Series 2007A, 5.000%, 3/15/26 
      
   
Lebanon County Health Facilities Authority, Pennsylvania, Revenue Bonds, Good Samaritan 
      
   
Hospital Project, Series 2002: 
      
250 
  
5.800%, 11/15/22 
11/12 at 101.00 
BB+ 
249,540 
2,800 
  
5.900%, 11/15/28 
11/12 at 101.00 
BB+ 
2,661,596 
3,280 
  
Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Lehigh Valley 
7/18 at 100.00 
AAA 
3,326,970 
   
Health Network, Series 2008A, 5.000%, 7/01/33 – AGM Insured 
      
1,250 
  
Lehigh County General Purpose Authority, Pennsylvania, Revenue Bonds, Good Shepherd Group, 
11/14 at 100.00 
A 
1,283,200 
   
Series 2004A, 5.500%, 11/01/24 
      
5,345 
  
Lehigh County General Purpose Authority, Pennsylvania, Revenue Bonds, Good Shepherd Group, 
11/17 at 100.00 
AAA 
5,496,798 
   
Series 2007, 5.000%, 11/01/30 – AGC Insured 
      
   
Lycoming County Athority, Pennsylvania, Health System Revenue Bonds, Susquehanna Health System 
      
   
Project, Series 2009: 
      
3,000 
  
5.500%, 7/01/28 
7/19 at 100.00 
BBB+ 
3,063,450 
1,000 
  
5.750%, 7/01/39 
7/19 at 100.00 
BBB+ 
1,022,340 
710 
  
Monroe County Hospital Authority, Pennsylvania, Hospital Revenue Bonds, Pocono Medical Center, 
1/17 at 100.00 
A– 
701,359 
   
Series 2007, 5.125%, 1/01/37 
      
1,000 
  
Montgomery County Higher Education and Health Authority, Pennsylvania, Hospital Revenue Bonds, 
6/12 at 101.00 
A 
1,018,770 
   
Abington Memorial Hospital, Series 2002A, 5.000%, 6/01/22 
      
215 
  
Montgomery County Industrial Development Authority, Pennsylvania, FHA Insured Mortgage Revenue 
8/20 at 100.00 
AA 
223,000 
   
Bonds, New Regional Medical Center Project, Series 2010, 5.375%, 8/01/38 
      
1,000 
  
Northampton County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Saint 
8/18 at 100.00 
A3 
1,011,630 
   
Lukes Hospital Project, Series 2008A, 5.500%, 8/15/35 
      
335 
  
Pennsylvania Economic Development Financing Authority, Health System Revenue Bonds , Albert 
No Opt. Call 
Baa1 
360,906 
   
Einstein Healthcare, Series 2009A, 6.250%, 10/15/23 
      
1,795 
  
Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Health System 
5/20 at 100.00 
AA 
1,801,767 
   
Revenue Bonds, Jefferson Health System, Series 2010B, 5.000%, 5/15/40 
      
1,060 
  
Sayre Healthcare Facility Authority, Pennsylvania, Revenue Bonds, Guthrie Healthcare System, 
12/17 at 100.00 
A+ 
691,809 
   
Series 2007, 1.191%, 12/01/31 – AMBAC Insured 
      
1,613 
  
South Fork Municipal Authority, Pennsylvania, Hospital Revenue Bonds, Conemaugh Valley 
7/20 at 100.00 
Baa1 
1,596,096 
   
Memorial Hospital,, 5.500%, 7/01/29 
      
   
Southcentral Pennsylvania General Authority, Revenue Bonds, Hanover Hospital Inc., Series 2005: 
      
525 
  
5.000%, 12/01/27 – RAAI Insured 
12/15 at 100.00 
BBB– 
463,176 
370 
  
5.000%, 12/01/29 – RAAI Insured 
12/15 at 100.00 
BBB– 
323,746 
1,500 
  
West Shore Area Hospital Authority, Cumberland County, Pennsylvania, Hospital Revenue Bonds, 
1/12 at 100.00 
BBB 
1,508,370 
   
Holy Spirit Hospital of the Sisters of Christian Charity Project, Series 2001, 6.250%, 1/01/32 
      
35,173 
  
Total Health Care 
    
34,789,054 
   
Housing/Multifamily – 3.5% (2.3% of Total Investments)
      
200 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Edinboro University 
No Opt. Call 
BBB– 
202,824 
   
Foundation Student Housing Project, Series 2010, 6.000%, 7/01/43 
      
5,000 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Slippery Rock University 
7/17 at 100.00 
BBB+ 
4,589,200 
   
Foundation Inc., Series 2007A, 5.000%, 7/01/39 – SYNCORA GTY Insured 
      
3,300 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Slippery Rock University 
7/15 at 100.00 
BBB+ 
3,047,748 
   
Foundation Inc., Student Housing Project, Series 2005A, 5.000%, 7/01/37 – SYNCORA GTY Insured 
      
800 
  
Philadelphia Authority for Industrial Development, Pennsylvania, Multifamily Housing Revenue 
5/15 at 102.00 
Baa3 
687,832 
   
Bonds, Presbyterian Homes Germantown – Morrisville Project, Series 2005A, 5.625%, 7/01/35 
      
9,300 
  
Total Housing/Multifamily 
    
8,527,604 
   
Housing/Single Family – 9.6% (6.1% of Total Investments)
      
2,250 
  
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-93A, 
4/15 at 100.00 
AA+ 
2,266,628 
   
4.950%, 10/01/26 (Alternative Minimum Tax) 
      
   
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-94A: 
      
1,675 
  
5.150%, 10/01/37 (Alternative Minimum Tax) 
10/15 at 100.00 
AA+ 
1,683,928 
1,670 
  
5.150%, 10/01/37 (Alternative Minimum Tax) (UB) 
10/15 at 100.00 
AA+ 
1,678,901 
9,000 
  
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2006-95A, 
10/15 at 100.00 
AA+ 
8,959,230 
   
4.900%, 10/01/37 (Alternative Minimum Tax) 
      
1,355 
  
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2007-97A, 
10/16 at 100.00 
AA+ 
1,349,350 
   
4.600%, 10/01/27 (Alternative Minimum Tax) 
      
2,060 
  
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2007-98A, 
10/16 at 100.00 
AA+ 
2,009,283 
   
4.850%, 10/01/31 (Alternative Minimum Tax) 
      
2,150 
  
Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2008-103-C, 
10/17 at 100.00 
AA+ 
2,256,382 
   
5.450%, 10/01/38 
      
910 
  
Pittsburgh Urban Redevelopment Authority, Pennsylvania, Mortgage Revenue Bonds, Series 1997A, 
10/10 at 100.00 
AAA 
919,118 
   
6.250%, 10/01/28 (Alternative Minimum Tax) 
      
2,125 
  
Pittsburgh Urban Redevelopment Authority, Pennsylvania, Mortgage Revenue Bonds, Series 2001B, 
10/11 at 100.00 
AAA 
2,136,539 
   
5.450%, 10/01/32 (Alternative Minimum Tax) 
      
23,195 
  
Total Housing/Single Family 
    
23,259,359 
   
Industrials – 4.4% (2.8% of Total Investments)
      
5,000 
  
Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, Amtrak 
5/11 at 101.00 
A1 
5,069,950 
   
Project, Series 2001A, 6.375%, 11/01/41 (Alternative Minimum Tax) 
      
5,000 
  
Pennsylvania Industrial Development Authority, Economic Development Revenue Bonds, Series 
No Opt. Call 
A1 
5,448,200 
   
2002, 5.500%, 7/01/12 – AMBAC Insured 
      
10,000 
  
Total Industrials 
    
10,518,150 
   
Long-Term Care – 3.2% (2.0% of Total Investments)
      
1,500 
  
Cumberland County Municipal Authority Revenue Bonds, Pennsylvania, Diakon Lutheran Social 
1/19 at 100.00 
N/R 
1,544,655 
   
Ministries Project, Series 2009, 6.375%, 1/01/39 
      
1,330 
  
Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social 
1/17 at 100.00 
N/R 
1,173,326 
   
Ministries, Series 2007, 5.000%, 1/01/36 
      
1,500 
  
Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Presbyterian Homes Inc., 
12/12 at 100.00 
BBB+ 
1,390,875 
   
Series 2003A, 5.000%, 12/01/26 – RAAI Insured 
      
   
Lancaster County Hospital Authority, Pennsylvania, Health Center Revenue Bonds, Masonic Homes 
      
   
Project, Series 2006: 
      
1,550 
  
5.000%, 11/01/26 
11/16 at 100.00 
A 
1,575,839 
415 
  
5.000%, 11/01/36 
11/16 at 100.00 
A 
416,515 
1,500 
  
Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Philadelphia 
7/11 at 101.00 
Baa1 
1,485,570 
   
Corporation for the Aging Project, Series 2001B, 5.250%, 7/01/26 – AMBAC Insured 
      
7,795 
  
Total Long-Term Care 
    
7,586,780 
   
Materials – 1.2% (0.7% of Total Investments)
      
1,260 
  
Bradford County Industrial Development Authority, Pennsylvania, Solid Waste Disposal Revenue 
12/15 at 100.00 
BBB 
1,275,120 
   
Bonds, International Paper Company, Series 2005B, 5.200%, 12/01/19 (Alternative Minimum Tax) 
      
1,750 
  
Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, 
11/10 at 100.00 
N/R 
1,501,640 
   
National Gypsum Company, Series 1997B, 6.125%, 11/01/27 (Alternative Minimum Tax) 
      
3,010 
  
Total Materials 
    
2,776,760 
   
Tax Obligation/General – 26.8% (17.1% of Total Investments)
      
1,800 
  
Allegheny County, Pennsylvania, General Obligation Bonds, Series 2000C-53, 5.250%, 11/01/20 – 
5/11 at 100.00 
A+ 
1,851,498 
   
FGIC Insured 
      
3,000 
  
Bethel Park School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 
8/19 at 100.00 
Aa2 
3,150,810 
   
2009, 5.000%, 8/01/29 
      
6,000 
  
Delaware Valley Regional Finance Authority, Pennsylvania, Local Government Revenue Bonds, 
No Opt. Call 
AA– 
6,705,840 
   
Series 2002, 5.750%, 7/01/17 (UB) 
      
7,350 
  
Erie City School District, Erie County, Pennsylvania, General Obligation Bonds, Series 2000, 
No Opt. Call 
N/R 
2,704,433 
   
0.000%, 9/01/30 – AMBAC Insured 
      
5,000 
  
Pennsylvania Public School Building Authority, Lease Revenue Bonds, School District of 
12/16 at 100.00 
AAA 
5,052,400 
   
Philadelphia, Series 2006B, 5.000%, 6/01/33 – AGM Insured (UB) 
      
4,830 
  
Pennsylvania State, General Obligation Bonds, Series 2007, Residuals 1986, 
No Opt. Call 
Aa1 
5,698,676 
   
13.198%, 3/01/15 (IF) 
      
1,500 
  
Pennsylvania, General Obligation Bonds, First Series 2006, 5.000%, 10/01/18 
10/16 at 100.00 
Aa1 
1,797,960 
500 
  
Pennsylvania, General Obligation Bonds, Second Series 2005, 5.000%, 1/01/18 
1/16 at 100.00 
Aa1 
592,330 
1,500 
  
Philadelphia School District, Pennsylvania, General Obligation Bonds, Series 2007A, 5.000%, 
No Opt. Call 
Aa3 
1,569,960 
   
6/01/34 – FGIC Insured 
      
4,135 
  
Pine-Richland School District, Pennsylvania, School Improvement General Obligation Bonds, 
7/15 at 100.00 
AAA 
4,240,649 
   
Series 2005, 5.000%, 7/15/35 – AGM Insured 
      
3,000 
  
Pittsburgh School District, Allegheny County, Pennsylvania, General Obligation Refunding 
No Opt. Call 
AAA 
3,560,070 
   
Bonds, Series 2002A, 5.500%, 9/01/15 – AGM Insured 
      
1,070 
  
Schuylkill Valley School District, Berks County, Pennsylvania, General Obligation Bonds, 
4/16 at 100.00 
Aa3 
1,141,915 
   
Series 2006A, 5.000%, 4/01/22 – FGIC Insured 
      
800 
  
Scranton Parking Authority, Pennsylvania, Guaranteed Parking Revenue Bonds, Series 2004, 
9/13 at 100.00 
A 
757,976 
   
5.000%, 9/15/33 – FGIC Insured 
      
21,000 
  
State Public School Building Authority, Pennsylvania, Lease Revenue Bonds, Philadelphia School 
No Opt. Call 
AAA 
23,875,110 
   
District, Series 2003, 5.500%, 6/01/28 – AGM Insured (UB) 
      
445 
  
State Public School Building Authority, Pennsylvania, School Revenue Bonds, Conneaut School 
11/13 at 100.00 
A 
484,044 
   
District, Series 2003, 5.250%, 11/01/21 – FGIC Insured 
      
1,465 
  
Stroudsburg Area School District, Monroe County, Pennsylvania, General Obligation Bonds, 
4/12 at 100.00 
AAA 
1,550,703 
   
Series 2001A, 5.000%, 4/01/18 – AGM Insured 
      
63,395 
  
Total Tax Obligation/General 
    
64,734,374 
   
Tax Obligation/Limited – 6.2% (4.0% of Total Investments)
      
3,500 
  
Allegheny County Port Authority, Pennsylvania, Special Transportation Revenue Bonds, Series 
3/11 at 101.00 
A 
3,537,590 
   
2001, 5.000%, 3/01/29 – FGIC Insured 
      
2,140 
  
Pennsylvania Turnpike Commission, Oil Franchise Tax Senior Lien Revenue Bonds, Series 2003A, 
12/18 at 100.00 
AA 
2,234,738 
   
5.000%, 12/01/32 – NPFG Insured 
      
2,700 
  
Philadelphia Municipal Authority, Pennsylvania, Lease Revenue Bonds, Series 2003B, 5.250%, 
11/13 at 100.00 
AAA 
2,968,866 
   
11/15/17 – AGM Insured 
      
4,000 
  
Pittsburgh and Allegheny Counties Public Auditorium Authority, Pennsylvania, Sales Tax Revenue 
8/10 at 100.00 
N/R 
3,841,360 
   
Bonds, Regional Asset District, Series 1999, 5.000%, 2/01/29 – AMBAC Insured 
      
3,140 
  
Puerto Rico Infrastructure Financing Authority, Special Tax Revenue Bonds, Series 2005A, 
No Opt. Call 
A3 
749,424 
   
0.000%, 7/01/32 – FGIC Insured 
      
1,625 
  
Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, First Subordinate Series 
2/20 at 100.00 
A+ 
1,660,571 
   
2010A, 5.500%, 8/01/42 
      
17,105 
  
Total Tax Obligation/Limited 
    
14,992,549 
   
Transportation – 14.1% (9.0% of Total Investments)
      
630 
  
Delaware River Joint Toll Bridge Commission, New Jersey and Pennsylvania, Revenue Bonds, 
7/13 at 100.00 
A2 
690,593 
   
Series 2003, 5.250%, 7/01/17 
      
400 
  
Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2010E, 
1/20 at 100.00 
A– 
406,748 
   
5.000%, 1/01/40 
      
2,035 
  
Lehigh-Northampton Airport Authority, Pennsylvania, Airport Revenue Bonds, Lehigh Valley 
11/10 at 100.00 
Baa1 
2,035,041 
   
Airport System, Series 2000A, 6.000%, 5/15/30 – NPFG Insured (Alternative Minimum Tax) 
      
5,400 
  
Pennsylvania Economic Development Financing Authority, Revenue Bonds, Amtrak 30th Street 
6/12 at 102.00 
BBB+ 
5,497,794 
   
Station Parking Garage, Series 2002, 5.800%, 6/01/23 – ACA Insured (Alternative Minimum Tax) 
      
6,600 
  
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E, 
12/27 at 100.00 
A– 
4,762,362 
   
0.000%, 12/01/38 
      
2,200 
  
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2001R, 5.000%, 12/01/30 – 
12/11 at 101.00 
Aa3 
2,232,912 
   
AMBAC Insured 
      
   
Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2006A: 
      
3,820 
  
5.000%, 12/01/22 – AMBAC Insured 
6/16 at 100.00 
Aa3 
4,134,195 
2,930 
  
5.000%, 12/01/24 – AMBAC Insured 
6/16 at 100.00 
Aa3 
3,133,694 
5,000 
  
Philadelphia Airport System, Pennsylvania, Revenue Bonds, Series 2001B, 5.250%, 6/15/31 – FGIC 
6/11 at 101.00 
A+ 
5,011,150 
   
Insured (Alternative Minimum Tax) 
      
3,600 
  
Philadelphia Airport System, Pennsylvania, Revenue Bonds, Series 2005A, 4.750%, 6/15/35 – NPFG 
6/15 at 100.00 
A+ 
3,423,348 
   
Insured (Alternative Minimum Tax) 
      
3,000 
  
Susquehanna Area Regional Airport Authority, Pennsylvania, Airport System Revenue Bonds, 
1/13 at 100.00 
Ba1 
2,773,860 
   
Subordinate Lien Series 2003D, 5.375%, 1/01/18 
      
35,615 
  
Total Transportation 
    
34,101,697 
   
U.S. Guaranteed – 30.9% (19.7% of Total Investments) (4)
      
2,000 
  
Allegheny County, Pennsylvania, General Obligation Bonds, Series 2000C-52, 5.250%, 11/01/23 
5/11 at 100.00 
A+ (4) 
2,076,000 
   
(Pre-refunded 5/01/11) – FGIC Insured 
      
1,320 
  
Allegheny County, Pennsylvania, General Obligation Refunding Bonds, Series 2000C-53, 5.250%, 
5/11 at 100.00 
A+ (4) 
1,368,827 
   
11/01/20 (Pre-refunded 5/01/11) – FGIC Insured 
      
3,325 
  
Delaware County Regional Water Quality Control Authority, Pennsylvania, Sewerage Revenue 
11/11 at 100.00 
A1 (4) 
3,526,196 
   
Bonds, Series 2001, 5.100%, 5/01/20 (Pre-refunded 11/01/11) – FGIC Insured 
      
1,400 
  
Delaware County Regional Water Quality Control Authority, Pennsylvania, Sewerage Revenue 
5/14 at 100.00 
A3 (4) 
1,624,098 
   
Bonds, Series 2004, 5.250%, 5/01/20 (Pre-refunded 5/01/14) – NPFG Insured 
      
5,000 
  
Erie, Pennsylvania, Water Authority, Water Revenue Bonds, Series 2001A, 5.200%, 12/01/30 
12/11 at 100.00 
A (4) 
5,317,250 
   
(Pre-refunded 12/01/11) – MBIA Insured 
      
6,275 
  
Hempfield Area School District, Westmoreland County, Pennsylvania, General Obligation Bonds, 
2/12 at 100.00 
A (4) 
6,764,450 
   
Series 2002, 5.375%, 2/15/18 (Pre-refunded 2/15/12) – FGIC Insured 
      
1,125 
  
Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, St. Luke’s 
8/13 at 100.00 
AAA 
1,286,854 
   
Hospital of Bethlehem, Series 2003, 5.375%, 8/15/33 (Pre-refunded 8/15/13) 
      
680 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Thomas Jefferson 
1/13 at 100.00 
A1 (4) 
748,211 
   
University, Series 2002, 5.000%, 1/01/20 (Pre-refunded 1/01/13) 
      
9,000 
  
Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, UPMC Health System, 
1/11 at 101.00 
Aa3 (4) 
9,327,600 
   
Series 2001A, 6.000%, 1/15/31 (Pre-refunded 1/15/11) 
      
10,935 
  
Philadelphia Authority for Industrial Development, Pennsylvania, Lease Revenue Bonds, Series 
10/11 at 101.00 
AAA 
11,674,643 
   
2001B, 5.250%, 10/01/30 (Pre-refunded 10/01/11) – AGM Insured 
      
   
Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Franklin Towne 
      
   
Charter High School, Series 2006A: 
      
510 
  
5.250%, 1/01/27 (Pre-refunded 1/01/17) 
1/17 at 100.00 
N/R (4) 
602,137 
860 
  
5.375%, 1/01/32 (Pre-refunded 1/01/17) 
1/17 at 100.00 
N/R (4) 
1,021,766 
610 
  
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Twelfth Series 1990B, 7.000%, 5/15/20 – 
No Opt. Call 
Aaa 
758,584 
   
MBIA Insured (ETM) 
      
   
Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2001A: 
      
5,525 
  
5.375%, 11/01/20 (Pre-refunded 11/01/12) – FGIC Insured 
11/12 at 100.00 
A1 (4) 
6,134,297 
3,185 
  
5.000%, 11/01/31 (Pre-refunded 11/01/12) – FGIC Insured 
11/12 at 100.00 
A1 (4) 
3,509,520 
6,100 
  
Plum Borough School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 
9/11 at 100.00 
A+ (4) 
6,440,868 
   
2001, 5.250%, 9/15/30 (Pre-refunded 9/15/11) – FGIC Insured 
      
1,615 
  
Sayre Health Care Facility Authority, Pennsylvania, Revenue Bonds, Latrobe Area Hospital, 
7/12 at 100.00 
N/R (4) 
1,759,882 
   
Series 2002A, 5.250%, 7/01/13 (Pre-refunded 7/01/12) – AMBAC Insured 
      
960 
  
St. Mary Hospital Authority, Pennsylvania, Health System Revenue Bonds, Catholic Health East, 
11/14 at 100.00 
A1 (4) 
1,122,979 
   
Series 2004B, 5.375%, 11/15/34 (Pre-refunded 11/15/14) 
      
2,000 
  
Sto Rox School District, Allegheny County, Pennsylvania, General Obligation Bonds, Series 
12/10 at 100.00 
A (4) 
2,041,540 
   
2000, 5.800%, 6/15/30 (Pre-refunded 12/15/10) – MBIA Insured 
      
3,000 
  
Warrington Township Municipal Authority, Bucks County, Pennsylvania, Water and Sewer Revenue 
11/15 at 100.00 
N/R (4) 
3,642,540 
   
Bonds, Series 1991, 7.100%, 12/01/21 (Pre-refunded 11/15/15) – FGIC Insured 
      
3,175 
  
West View Borough Municipal Authority, Allegheny County, Pennsylvania, Special Obligation 
No Opt. Call 
AAA 
3,918,871 
   
Bonds, Series 1985A, 9.500%, 11/15/14 (ETM) 
      
68,600 
  
Total U.S. Guaranteed 
    
74,667,113 
   
Utilities – 6.1% (3.9% of Total Investments)
      
1,250 
  
Allegheny County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
No Opt. Call 
BBB 
1,327,125 
   
Refunding Bonds, Duquesne Light Company, Series 1999A, 4.350%, 12/01/13 – AMBAC Insured 
      
1,430 
  
Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, 
2/15 at 100.00 
A 
1,438,094 
   
Pennsylvania Power and Light Company, Series 2005, 4.750%, 2/15/27 – FGIC Insured 
      
700 
  
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Fifth Series 2004A-1, 
9/14 at 100.00 
AAA 
705,369 
   
5.000%, 9/01/26 – AGM Insured 
      
2,000 
  
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, General Ordinance, Seventeenth Series 
7/13 at 100.00 
AAA 
2,085,080 
   
2003, 5.375%, 7/01/19 – AGM Insured 
      
5,490 
  
Philadelphia Gas Works, Pennsylvania, Revenue Bonds, Seventh Series, 2007, 5.000%, 10/01/37 – 
10/17 at 100.00 
BBB+ 
5,385,635 
   
AMBAC Insured 
      
3,700 
  
York County Industrial Development Authority, Pennsylvania, Pollution Control Revenue 
3/12 at 101.00 
Baa1 
3,786,357 
   
Refunding Bonds, PSEG Power Project, Series 2001A, 5.500%, 9/01/20 
      
14,570 
  
Total Utilities 
    
14,727,660 
   
Water and Sewer – 7.4% (4.7% of Total Investments)
      
2,100 
  
Allegheny County Sanitary Authority, Pennsylvania, Sewerage Revenue Bonds, Series 2005A, 
12/15 at 100.00 
A 
2,195,990 
   
5.000%, 12/01/21 – NPFG Insured 
      
2,205 
  
Bethlehem Authority, Northampton and Lehigh Counties, Pennsylvania, Guaranteed Water Revenue 
11/14 at 100.00 
AAA 
2,357,210 
   
Bonds, Series 2004, 5.000%, 11/15/20 – AGM Insured 
      
5,000 
  
Delaware County Industrial Development Authority, Pennsylvania, Water Facilities Revenue 
10/12 at 100.00 
AA– 
5,057,199 
   
Bonds, Philadelphia Water Company, Series 2001, 5.350%, 10/01/31 – AMBAC Insured 
      
   
(Alternative Minimum Tax) 
      
2,000 
  
Harrisburg Authority, Dauphin County, Pennsylvania, Water Revenue Refunding Bonds, Series 
7/14 at 100.00 
AAA 
2,028,539 
   
2004, 5.000%, 7/15/22 – AGM Insured 
      
1,600 
  
Luzerne County Industrial Development Authority, Pennsylvania, Water Facility Revenue 
12/19 at 100.00 
A 
1,657,167 
   
Refunding Bonds, Pennsylvania-American Water Company, Series 2009, 5.500%, 12/01/39 
      
500 
  
Pennsylvania Economic Development Financing Authority, Sewage Sludge Disposal Revenue Bonds, 
1/20 at 100.00 
Baa3 
529,139 
   
Philadelphia Biosolids Facility Project, Series 2009, 6.250%, 1/01/32 
      
1,815 
  
Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2001A, 5.000%, 
11/12 at 100.00 
A1 
1,832,949 
   
11/01/31 – FGIC Insured 
      
2,150 
  
Philadelphia, Pennsylvania, Water and Wastewater Revenue Bonds, Series 2005A, 5.000%, 
7/15 at 100.00 
AAA 
2,271,130 
   
7/01/23 – AGM Insured 
      
17,370 
  
Total Water and Sewer 
    
17,929,323 
$ 374,368 
  
Total Investments (cost $365,920,198) – 156.8% 
    
378,612,605 
   
Floating Rate Obligations – (11.1)% 
    
(26,805,000) 
   
Other Assets Less Liabilities – 0.6% 
    
1,420,655 
   
Auction Rate Preferred Shares, at Liquidation Value – (46.3)% (5) 
    
(111,750,000)
   
Net Assets Applicable to Common Shares – 100% 
    
$ 241,478,260 

 
 
 
 

 
Fair Value Measurements
 
 
In determining the value of the Fund’s investments, various inputs are used. These inputs are summarized in the three broad levels listed below:
 
 
Level 1 – Quoted prices in active markets for identical securities.
 
 
Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
 
Level 3 – Significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
 
 
The inputs or methodologies used for valuing securities are not an indication of the risk associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of July 31, 2010:
 
         
 
Level 1
Level 2
Level 3
Total
Investments: 
        
Municipal Bonds 
$ — 
$378,612,605 
$ — 
$378,612,605 

 
Income Tax Information
 
 
The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate securities reflected as financing transactions, if any. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts as detailed below. Temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.
 
 
At July 31, 2010, the cost of investments was $339,555,148.
 
 
Gross unrealized appreciation and gross unrealized depreciation of investments at July 31, 2010, were as follows:
 
   
Gross unrealized: 
  
Appreciation 
$16,376,504 
Depreciation 
(4,124,754)
Net unrealized appreciation (depreciation) of investments 
$12,251,750 

   
(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 Investor 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. 
(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. Such investments are normally considered to be 
 
equivalent to AAA rated securities. 
(5) 
Auction Rate Preferred Shares, at Liquidation Value as a percentage of Total Investments is 29.5%. 
N/R 
Not rated. 
(ETM) 
Escrowed to maturity. 
(IF) 
Inverse floating rate investment. 
(UB) 
Underlying bond of an inverse floating rate trust reflected as a financing transaction. 

 

 
 
 
Item 2. Controls and Procedures.

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.
 
Item 3. Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.

 
 
 
 
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
(Registrant)  Nuveen Pennsylvania Investment Quality Municipal Fund 
 
By (Signature and Title)     /s/ Kevin J. McCarthy                    
                                                   Kevin J. McCarthy
                                                   Vice President and Secretary
 
Date         September 29, 2010        
 
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
 
By (Signature and Title)     /s/ Gifford R. Zimmerman                    
                                                    Gifford R. Zimmerman
                                                  Chief Administrative Officer (principal executive officer) 
 
Date         September 29, 2010        
 
By (Signature and Title)     /s/ Stephen D. Foy                              
                                                   Stephen D. Foy
                                                  Vice President and Controller (principal financial officer) 
 
Date         September 29, 2010